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2021-03-31-accounts

Annual Report

Autumnal Leaves at the Gardens

1 April 2020 to 31 March 2021

Reference and administrative details:

The Sir Harold Hillier Gardens and Arboretum, Jermyns Lane, Ampfield, Romsey, Hampshire. SO51 0QA

Tel: 01794 368787 Fax: 01794 368027

www.hilliergardens.org.uk

Legal and administrative information:

The Sir Harold Hillier Gardens and Arboretum is a Registered Charity (Reg. No 274737)

Sole trustee: Solicitor: Hampshire County Council Hampshire Legal Services, Hampshire County Council, Registered Address: The Castle, Director of Culture, Communities and Winchester, Business Services, Hampshire. SO23 8UB

Director of Culture, Communities and Winchester, Business Services, Hampshire. SO23 8UB Hampshire County Council, Three Minsters House, Banker: 76 High Street, National Westminster Bank Winchester, 105 High Street Hampshire. SO23 8UL Winchester Hampshire

Auditor:

Fiander Tovell Limited, For externally raised development Stag Gates House, funds: 63/64 The Avenue, CAF Bank Ltd, Southampton, 25 Kings Hill Ave, SO17 1XS Kings Hill, West Malling, Kent. ME19 4JQ

Day-to-day responsibility for the Gardens is delegated by the sole trustee to the Director of Culture, Communities and Business Services and the Director of the Sir Harold Hillier Gardens.

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Report of the trustees for the year ending 31 March 2021

The trustees present their annual report and financial statements of the charity for the year ending 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Objectives and public benefit

The object of the charity is to provide for the public benefit an Arboretum and Botanic Garden known as the ‘Sir Harold Hillier Gardens’ as a public facility to be enjoyed by people of all ages and, in particular but not exclusively, as a means to promote:

1. the conservation, protection and improvement of the collection of plant species and cultivars of the temperate world for the public benefit by the cultivation and maintenance of such plants;

2. the education of the public about the cultivation, preservation, propagation and conservation of such plants and their impact upon biodiversity and the conservation of the physical and natural environment.

When reviewing the objectives and planning the activities and future development of the Sir Harold Hillier Gardens (SHHG), the trustees have had due regard to the Charity Commission’s guidance on public benefit.

SHHG levies an entry charge, which, together with commercial activities (income from shop, concessions, catering and the hire of meeting rooms), donations and the support of the sole trustee allows the charity to carry out its charitable aims. Day entry prices are discounted for senior citizens, job seekers, service men and women, full time students and disabled visitors. The Gardens has recently started to charge for children, although entry is free for children attending with an adult member. A carer accompanying a disabled visitor is admitted without charge. The SHHG’s Education Programme caters for over 15,000 annual users, most of these are primary and secondary school groups, visiting for a full educational day guided by the Gardens’ education staff and volunteers. A nominal charge is applied for this programme.

Educating all our visitors and users, especially the young, about the value of the plant collection and biodiversity is one of the most important aspects of our charitable work. SHHG contributes to the training of the next generation of professional horticulturists by offering work placements, allowing the student to put the college acquired knowledge into practice and learn many of the practical skills required to look after such an outstanding plant collection.

The SHHG continues to conserve and educate by growing over 12,500 different types of plants, including over 250 rare taxa, over 611 champion trees (the largest number recorded in a single garden in the British Isles) and maintains 14 National Collections of plants, the largest number of any single UK plant collection. The Gardens also distribute plant material to other botanic gardens and plant collections and facilitates the use of its plant collection for scientific study in the UK and abroad.

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The Gardens maintain a herbarium collection, which is almost exclusively maintained by volunteers. This represents a permanent record of the plant collection. A database of both the living and herbarium collection is available to the public and any interested party via the Gardens’ website.

Achievements and performance 2020/21

The benefits of the Trust’s work are the conservation of the Gardens’ existing collection whilst continuing to develop the site to include new taxa and make the collection more accessible to visitors, making the collection accessible to researchers around the world through collaborations on site or online through digital cataloguing, increasing awareness of the natural world by attracting and engaging with greater numbers of visitors alongside running more formal educational programmes suitable for all age groups. The trustees are pleased that the achievements and performance of the Trust, as set out below, demonstrate great progress in pursuing its charitable objectives.

Horticultural and facility developments

The year 2020/21 has been exceptional due to the global pandemic. The Gardens closed on March 23[rd] 2020 and reopened on the 8[th] June 2020. However, despite the challenges the Gardens were still able to undertake new developmental projects, largely due to the grant from the Cultural Recovery Fund, together with individual giving.

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The plant collection

Despite the pandemic, the many volunteers have been very active and have now measured well over 8,000 trees and shrubs in the Gardens. The Tree Register now lists over 611 of the Gardens’ trees as UK Champions, more than any other collection in the country.

The herbarium volunteers have added specimens to the collection, with the total being around 8,500. All specimens have been photographed, allowing us to make the images easily available to any researcher worldwide. There are over 17,000 images in our database, most of them taken by volunteers. The importance and relevance of the collection cannot be underestimated, especially in relation to climate change.

The verification of the collection continues to increase the total number now being over 3,000.

Collaboration and support of external science and research projects

Besides continuing to grow and conserve one of the most diverse collection of plants, the Gardens continues to support other projects and institutions with its plant collection, such as Ghent Botanic Gardens and University in Belgium, the Royal Botanic Gardens, Kew, Royal Horticultural Society, Wisley, BGCI and Butterfly Conservation, Hampshire and Isle of Wight Branch.

Education

The SHHG aims to share knowledge and promote a greater awareness of the fundamental importance of the natural world to all its visitors. An active and tailor-made education programme engages with visitors to the SHHG, whatever their age and level of knowledge, providing lively interpretation of the Collection through teaching programmes, tours and hands-on workshops. The diverse collection of plants provides the Education Service with a unique and inspirational outdoor classroom space reinforced by the purpose-built educational facilities in the Visitor Centre and the Children Education Garden. This garden continues to evolve with the help of the educational team and volunteers.

Usually, the Education Service welcomes around 15,000 users for formal education activities in the SHHG from the Foundation Stage, Primary, Secondary and Tertiary years to some adult classes.

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The informal learning activities and family events are very popular with young children who particularly enjoy the seasonal craft workshops and the family trails. However, during 2020/21 the Education Department was acutely affected by the pandemic which witnessed a severe restriction on visits and activities. During this period there were only 7 school visits with a total of 913 pupils, signifying just 6% of the annual expected visitor numbers. During this period, many of the Educational Staff were furloughed due to lack of customer demand. Yet, the Educational Department explored new ways of working through greater use of technology and created a questionnaire that was sent to all schools on the department’s database regarding future participation.

Visitor numbers
2016/17 2017/18 2018/19 2019/20 2020/21*
Day Entry 55,357 48,752 62,761 61,847 19,257
Groups 4,259 3,776 3,059 2,283 35
Children 40,518 39,643 53,117 52,699 7,958
Members 82,666 87,897 101,622 91,803 141,785
Education 15,019 15,465 15,565 14,005 913
Events 3,418 7,406 13,643 21,565 29
Total 201,237 202,939 249,767 244,202 169,977

*Please note that due to challenges recording different types of visitors during the pandemic reopening in 2020/21 the split by types of visitors is not completely accurate in the above table.

This year has seen a significant decrease in visitor numbers, largely due to the pandemic. Yet, the statistics also reveal the importance that the Gardens have played in the physical and mental well-being of visitors who have greatly benefitted from the Gardens remaining open. The Gardens remained closed during April and May of 2020, months that would usually witness the highest footfall of the year due to good weather and planned events and activities. On a positive note, Membership has steadily grown across the year.

Private and corporate functions held at the Gardens

Regrettably, due to the pandemic, all conferences and functions were cancelled during 2020/21 which has also had a major impact on income and visitor numbers.

Volunteers

The volunteer and student programme continues to function well, growing to over 200 volunteers. The primary volunteer activities are:

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Student Programme

During 2020/21, 8 local students attended the Student Programme. The programme affords a solid grounding in horticulture and is often the catalyst for successful careers for participants both in the UK and around the world. Regrettably, due to the pandemic no overseas students were able to participate in the programme.

Donations and bursaries

The Gardens rely upon an increasing range of organisations and individuals in order to carry out its programmes and developments. The development of the Gardens in the past decade would not have been possible without the generosity of the following:

The Geoff and Fiona Squire Foundation Mr Hady Wakefield
The Veolia Environmental Foundation The Linbury Trust
The Equitable Charitable Trust The Hillier Family
The Henry Smith Charity The Monument Trust
Sir Jeremiah Coleman Trust Mrs Jenny Grundy
Mr Christopher Palmer-Tomkinson Taylors Bulbs
The G M Morrison Charitable Trust Help the Aged
The Ernest Cook Trust The HDH Wills 1965 Charitable Trust
Aiming High for Disabled Children Veolia Pro Grow
Romsey Arts Festival Hillier Nursery Ltd.
Hampshire County Council Landscape
Team		 Hampshire County Council Ecology
Team
RHS Suzan Pearson Bursary Historic and Botanic Garden Bursary
Scheme
Graham High Group Dulverton Trust
Elevetham Trust Hampshire Gardens Trust
Rupert Nabarro Elizabeth Creak Charitable Trust
The Finnis Scott Trust
The Stanley Smith (UK) Horticultural
Trust		 Test Valley Borough Council
Mr Giles Coode-Adams
Mr Victor Bryant
Mr Andrew Spokes

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Key outcomes for the year 2020/21

Outcome 2018/19 2019/20 2020/21
Income from admissions and
secondary income1		 £1,635,177
(+15.6%)		 £1,660,861
(+1.6%)		 £2,323,758
(+39.9%)
Operating costs2 £1,439,023
(-0.1%)		 £1,495,059
(+3.9%)		 £1,684,558
(+12.7%)
Total annual visitor numbers 249,767 visits
(+23.1%)		 244,202 visits
(-2.2%)		 169,977 visits
(-30.4%)
Membership numbers Est. 22,863
(+8.9%)		 Est. 23,872
(+4.4%)		 Est. 24,861
(+4.1%)
Retail income £118,633
(-2.9%)		 £121,608
(+2.5%)		 £113,225
(-6.9%)
Catering income £85,973
(-2.4%)		 £87,011
(+1.2%)		 £0
(-100%)
Corporate & private hire
income		 £23,652
(-10.6%)		 £10,083
(-57.4%)		 £0
(-100%)
Events and exhibition income £114,067
(+26.5%)		 £95,440
(-16.3%)		 £0
(-100%)
Education, schools & events £125,344
(+38.5%)		 £121,282
(-3.2%)		 £21,440
(-82.3%)

Note:

1. secondary income refers to all other unrestricted income received during the year, excluding the budgeted contribution received from Hampshire County Council and any gains resulting from the sale of fixed assets. For 2020/21 this includes the £925,000 Culture Recovery Fund Grant received.

2. excludes capital charges such as depreciation and impairments and Local Authority managed repair & maintenance and governance.

Plans for the future

The Capital Development Project to expand visitor facilities at Jermyn’s House was delayed due to the pandemic, and is due to open in the summer of 2021.

The Gardens will also commence fundraising for a new feature garden, the Feature Garden, that is also aimed at growing visitor numbers as well as exploring the impact of climate change on plant-life.

Structure, governance and management

Sir Harold Hillier Gardens and Arboretum (SHHG) were left by Sir Harold under the sole trusteeship of Hampshire County Council during 1977 and were registered as a charity on

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12 January 1978 (number 274737). The County Council’s Leader and Executive Member for Policy and Resources, Councillor Keith Mans is responsible for approving the strategic decision-making for the Trust. The Leader delegates day-to-day responsibility for the Gardens to the Director of Culture, Communities and Business Services, Felicity Roe and the Director of the SHHG, Clare Goddard.

The Trust is governed by the Arboretum Trust Board (acting as the Executive) which comprises the Leader, the Chairman of the Advisory Committee and the Director of Culture, Communities and Business Services. The Trust Board and the SHHG are supported by an eminent group of advisers mostly with interest and expertise in the field of horticulture, gardens, plant collections and the charitable sector. All support the SHHG with their time and expertise, providing valuable guidance and advice.

Membership of the Advisory Committee as in March 2021:

The Advisory Committee is supported by a specialist Gardens Panel, comprising:

President

Her Royal Highness, The Duchess of Cornwall GCVO

Patrons

Lord Sainsbury of Preston Candover KG

Roy Lancaster VMH, CBE

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The sole trustee, Hampshire County Council, has provided a significant level of financial support to the SHHG since 1977. This enabled the size of the Garden to increase to 180 acres and included the completion of a range of capital projects. This has also enabled the potential of the collection to be maximised for education, recreation and conservation purposes. What started as a private plant collection with a few hundred visitors has been made accessible to a wide range of visitors from all over the world.

Today it provides an excellent facility which normally attracts around 240,000 annual visitors, usually including over 15,000 formal education visits. The SHHG and plant collection has also grown, now boasting some 42,000 plants of over 12,500 taxa and 14 national plant collections set in a complementary mixture of formal and informal landscapes and feature gardens such as one of Europe’s largest winter gardens. The significance of the collection is recognised by a Grade II listing in English Heritage’s Register of Parks and Gardens of Special Historic Interest.

Related parties and co-operation with other organisations

The County Council, as sole trustee, is a key related party to SHHG and is responsible for the control, administration and financial management of the SHHG. As a Local Authority, the County Council has in place control frameworks for risk management, internal control and governance, the adequacy and effectiveness of which are subject to annual evaluation by both external and internal audit. As the sole trustee, the County Council allows SHHG to benefit from the use of these control frameworks, including the use of support services including internal audit, banking, financial reporting, and employment practice advice, for which an annual charge is made, details of which can be found in note 7.

Through the Gardens’ pursuit of achieving its charitable objective of “ the conservation, protection and improvement of the collection of plant species and cultivars of the temperate world for the public benefit by the cultivation and maintenance of such plants” , SHHG supports other projects and institutions with access to its plant collection and knowledge.

Pay policy for senior staff

All staff are employed by Hampshire County Council on behalf of the Trust and therefore they follow all terms and conditions and policies as set by Hampshire County Council.

As employees of Hampshire County Council, staff salary levels are set in accordance with the Employment in Hampshire County Council (EHCC) 2007 Agreement. There are 11 pay grades within the EHCC pay framework, with roles matched to the appropriate grade following an evaluation using the Hay methodology.

The Trust considers the key management personnel to be the trustees and the Director of the Gardens and details of the employment benefits and expenses paid are disclosed in note 5 to the accounts.

Risk management

SHHG understands risk management as an essential part of the business, in its delivery of a unique botanical plant collection, outstanding gardens and arboretum with core

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educational and conservation activities as well as its supporting function to include conference and wedding facilities.

An established risk management policy is in place, in support of which:

The SHHG Internal Management Team, chaired by the Director:

Treasury management

SHHG operates under the Treasury Management Policy approved by its sole trustee, Hampshire County Council. That policy adheres to the principles of best practice including the adoption of the Treasury Management in the Public Services: Code of Practice produced by the Chartered Institute of Public Finance and Accountancy (CIPFA).

In accordance with Section 5 of the Code, SHHG maintains, as the cornerstones for effective treasury management:

The Trust defines its treasury management activities as:

“The management of the organisation’s investments, cash flows and banking; the effective control of the risks associated with those activities; and the pursuit of optimum performance consistent with those risks.”

Whilst the Trust Board assumes full responsibility for the implementation and monitoring of its treasury management policies and practices, it delegates the execution and administration of treasury management decisions to the Director of Corporate Operations of Hampshire County Council, who will act in accordance with the organisation’s policy statement, CIPFA’s Standard of Professional Practice on Treasury Management and maintain TMPs covering the activities carried out for SHHG.

Reserves

The SHHG’s reserves policy indicates the level of reserves the SHHG needs to operate effectively in accordance with its aims, needs and objectives taking into account potential

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risks and contingencies that may arise from time to time, and in the context of a separate risk management policy. To establish an appropriate level of reserves the SHHG has reviewed the following factors:

Following the review of these factors, the Trust Board has established a designated reserve fund of £100,000, to provide contingency funding in the event of a significant loss of income, for example if an outbreak of foot and mouth or something similar caused the gardens to close to visitors. This level of the designated reserve fund is subject to an annual review to ensure it remains an appropriate level.

Details of the balances and purposes of the other reserves held by SHHG are included within the Finances section that follows.

Fundraising Statement

Sir Harold Hillier Gardens adheres to a Fundraising Strategy that is reviewed by the Arboretum Trust Board. We work with external organisations to develop fundraising strategies and to identify, analyse and advise on fundraising opportunities.

Our fundraising complies with the Fundraising Regulators Code of Fundraising Practice and the Trustees have regard to national guidance in overseeing the fundraising activities of the Charity.

During 2020/21 no complaints were received in relation to SHHG fundraising activity.

We make every effort to ensure that our fundraising activity never feels unreasonably intrusive, persistent or pressurised. This applies to our written communications and any fundraising activity at the gardens.

We respect the wishes of supporters who do not wish to receive fundraising communications and try to limit the number of communications a supporter might receive.

Finances

The statement of financial activities (SOFA) reports a net surplus for the year ended 31 March 2021 of £597,489. This is affected by the inclusion of grant funding of £925,000 received in 2020/21 from the Covid Recovery Fund.

The net surplus has increased by £501,491 on the surplus of £95,998 achieved during 2019/20. This is the result of several factors affecting both income and expenditure as set out below.

Income

Excluding the Covid Recovery Fund grant income, overall income has reduced by £55,390 compared with the previous year. This is primarily due to the following:

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Expenditure

Overall expenditure has increased by £274,667, primarily due to the following:

Gains/losses on investments

The £56,834 gain on investment assets in 2020/21 is higher than the gain of £30,080 in 2019/20. This is based on annual valuations of the investment property and therefore the value can fluctuate depending on the assessment of market conditions at the time of the valuation.

Unrestricted funds

Unrestricted funds are split between the development fund and the designated reserve fund. At 31 March 2021 the total balance of unrestricted funds was £1,142,231.

The SOFA for the financial year ended 31 March 2021 reflects an overall decrease in unrestricted funds of £378,555. This is primarily due to depreciation and the capital expenditure in year on the Jermyn’s House Café Extension (represented by the transfer to the applied contributions of £914,788). This is partially offset by the increased grant income from the Covid Recovery Fund.

The development fund accounts for £1,042,231 of the total unrestricted funds and can be used at the trustees’ discretion to further the charitable objectives of the Gardens. As explained above, this balance has reduced by £378,555 from the previous year.

The remaining balance of unrestricted funds of £100,000 comprises the Trust’s designated reserve fund, held in line with the reverses policy detailed in the Reserves section above. There has been no movement on this fund during 2020/21.

Restricted funds

Four restricted funds were held as at 31 March 2021, totalling £300,560. These funds can only be applied to specific purposes, as follows:

The Hillier's expedition fund is used to fund botanical and horticultural expeditions and plant collection work.

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The 50 year development fund (previously identified as the Charities Aid Foundation fund) is to be used in line with the 50 year plan to fund major projects that continue to develop and enhance the Gardens.

The staff bursary fund is intended to fund training and development of permanent staff at the gardens that cannot be funded by the employer from core funds. The long-term intention for the fund is to accumulate sufficient capital that the interest earned can be used to fund such training. However, the achievement of the longterm aim of the fund is not intended to prevent current permanent staff benefiting and it can be accessed in the meantime to fund appropriate training and development opportunities.

This fund represents grants received from the Elizabeth Creak Charitable Trust. These grants are retained in a restricted reserve and used to fund the training of students as these costs are incurred. Note 14b presents the grant income received in year and the expenditure incurred in year.

Balance sheet

The balance sheet shows the total funds of the charity at about £13.35 million. Of this total, just over £11.9 million represents the value of fixed assets owned by the charity, with the remainder the useable funds detailed above (£1.14m unrestricted funds plus £0.3m restricted funds).

Going concern consideration

During 2020/21 visitor numbers and associated income were reduced due to closures at the Gardens and changes to admissions due to the Government guidelines in response to the Covid-19 pandemic. The loss of income was, however, largely mitigated by grant funding of £925,000 received from the Covid Recovery Fund.

Since re-opening to visitors on 8 June 2020 the Gardens have sustained footfall and received donations from the public, Trusts and Foundations. Consequently, it is anticipated the Gardens will achieve a balanced position for the 2021/22 financial year.

With on-going fundraising and anticipated continued support from Hampshire County Council as sole trustee, together with an enhanced visitor offer with the completion of the Jermyn’s House extended catering facilities and other planned developments in the Gardens, the Trustees remain assured that the Gardens will continue as a going concern.

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Trustees’ responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Approved by the trustee and signed on their behalf by:

Councillor K Mans

Chairman of the Arboretum Trust Board

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Independent Auditor’s Report to the trustee of Sir Harold Hillier Gardens

Opinion

We have audited the financial statements of Sir Harold Hillier Gardens and Arboretum (the ‘charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cashflows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the

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other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 14, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from

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fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Meacher FCA (Senior Statutory Auditor) Fiander Tovell Limited

Chartered Accountants and Registered Auditors Stag Gates House 63/64 The Avenue Southampton SO17 1XS

Date:

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Sir Harold Hiller Gardens and Arboretum

Statement of Financial Activities for the year ending 31 March 2021

Note
Income and endowments from
Donations
Grant Income
Charitable activities:
Use of Gardens and Facilities
Education
Investments:
Rents
Other:
Local Authority contribution
Gains on disposal of fixed assets
Total income and endowments
Expenditure
Charitable activities:
Management of Gardens and
facilities
Education
Total expenditure
4
Net gains/(losses) on investments
Net income/(expenditure)
Transfer between funds
Gains/(losses) on the revaluation
of fixed assets
Net movement in funds
Reconciliation of funds
Balances brought forward at 1
April
14-
17
Funds balances carried forward
at 31 March		 2020/21
2020/21
2020/21
2020/21
2019/20
Unrestricted
funds
Restricted
funds
Endowment /
Applied
Contributions
Total funds
Prior period
Total funds
£
£
£
£
£
206,690
50,000
-
256,690
100,869
925,000
-
-
925,000
-
1,057,370
-
-
1,057,370
1,370,852
21,440
-
-
21,440
121,282
113,258
-
-
113,258
118,858
353,034
-
-
353,034
145,321
-
-
-
-
-
2,676,792
50,000
-
2,726,792
1,857,182
2,053,261
-
-
2,053,261
1,647,850
87,298
45,578
-
132,876
143,414
2,140,559
45,578
-
2,186,137
1,791,264
-
-
56,834
56,834
30,080
536,233
4,422
56,834
597,489
95,998
(914,788)
-
914,788
-
-
-
-
2,480,039
2,480,039
-
(378,555)
4,422
3,451,661
3,077,528
95,998
1,520,786
296,138
8,455,330
10,272,254
10,176,256
1,142,231
300,560
11,906,991
13,349,782
10,272,254

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Sir Harold Hiller Gardens and Arboretum

Balance Sheet as at 31 March 2021

Note
Fixed assets
Tangible fixed assets
10
Heritage assets
11
Current assets
Debtors
12
Cash at bank and held by Hampshire County Council
17
Liabilities
Creditors: Amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Net assets
Funds
Unrestricted
14a
Restricted
14b
Applied contributions
14c
Endowment
14c
Revaluation reserve
14c
Total
2020/21
2019/20
£
£
11,705,459
8,253,798
201,532
201,532
11,906,991
8,455,330
144,275
22,500
1,394,021
1,813,382
1,538,296
1,835,882
(95,505)
(18,958)
1,442,791
1,816,924
13,349,782
10,272,254
13,349,782
10,272,254
1,142,231
1,520,786
300,560
296,138
4,496,488
3,581,700
826,602
826,602
6,583,901
4,047,028
13,349,782
10,272,254

The notes at pages 22 to 34 form part of these accounts.

Approved by the sole trustee and signed on their behalf by:

Councillor K Mans,

Chairman of the Arboretum Trust Board

R Carr,

Director of Corporate Operations, Hampshire County Council

20

Sir Harold Hiller Gardens and Arboretum

Statement of Cash Flows for the year ending 31 March 2021

Note
Net cash provided by (used in) operating activities
16
Cash flows from investing activities:
Interest and rents from investments
Proceeds from the sale of fixed asset
Purchase of property, plant and equipment
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2020/21
2019/20
£
£
530,715
73,014
113,258
118,858
-
-
(1,063,334)
(392,163)
(950,076)
(273,305)
(419,361)
(200,291)
1,813,382
2,013,673
1,394,021
1,813,382

21

Sir Harold Hiller Gardens and Arboretum

Notes to the accounts for the year ending 31 March 2021

Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102) and the Charities Act 2011.

The Sir Harold Hillier Gardens and Arboretum (SHHG) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The address of the registered office and registered charity number are included in the legal and administrative information provided on page 1 of the annual report.

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Accounting policies

a. Income recognition & donations

Income is credited to the Statement of Financial Activities in the year to which it relates. Income is deferred only when conditions have to be fulfilled before becoming entitled to it or where the donor has specified that income is to be expended in the future period.

In accordance with the Charities SORP (FRS 102), no amount is recorded in the financial statements for volunteer time. Details of the activities undertaken by volunteers can be found in the trustees’ annual report.

Donated professional services and / or facilities are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. On receipt, donated professional services and facilities are recognised based on the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. No donated professional services or facilities were received during 2020/21 (2019/20 nil).

Membership income is included in the year of receipt as this generally equates to a full year of income in each year over time.

Rental income is credited to the Statement of Financial Activities in the year to which it relates.

22

b. Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of obligation can be measured reliably. Expenditure is classified under the following activity headings:

c. Basis of allocation of charitable expenditure

Charitable expenditure includes direct and indirect costs that are allocated in relation to underlying activity levels established by the use of a number of indicators, for example accommodation costs by floor space occupied and human resources costs by average staff numbers throughout the financial year. The Charity does not receive any services for which it is not charged, and all costs are included in the Statement of Financial Activity.

d. Pensions

Pension contributions are paid to a multi-employer, local government defined benefit pension scheme in accordance with the recommendations of the actuary. Full details of the Hampshire Pension Fund are available in the County Council's Statement of Accounts. The contribution rate is determined by the Pension Fund's actuary (Aon Hewitt), set in relation to the current service period only. Therefore, in accordance with recommended practice for charities, pension costs are accounted for in line with defined contribution schemes. In 2020/21 the current service contribution rate was 18.4% of pensionable pay (16.1% in 2019/20) and will be 18.4% in 2021/22. The current service contribution for pensions included in the Statement of Financial Activity is £147,414 (£122,878 in 2019/20). SHHG is under no obligation to make any extra payments, irrespective of how the pension fund performs.

e. Tangible fixed assets

Fixed Assets are valued and held in the accounts on the basis described in the Accounting and Reporting by Charities Statement of Recommended Practice (SORP) 2015.

Expenditure on the acquisition, creation or enhancement of assets is capitalised on an accrual basis, provided that it benefits the Gardens and the services it provides are for more than one financial year.

Fixed Assets are categorised as follows:

Freehold interest in land and buildings

Assets in this category are revalued on a rolling programme and at least every five years. Asset revaluations are carried out by RICS qualified valuers from Hampshire County Council's Property Services. Assets are valued in the accounts on either a depreciated replacement cost basis or an existing use basis dependant on if comparable evidence exists in the market. Deprecation is charged on all fixed assets excluding land in accordance with Financial Reporting Standard (FRS) 102. Depreciation is charged on a

23

straight-line basis, over the estimated remaining useful life. At the last valuation these were assessed as follows:

One piece of land previously donated to the Gardens is classified as investment property as this land is leased out to Hillier Nurseries to generate income. This asset will be revalued on an annual basis and is shown in the accounts at market value.

Depreciation is not charged on investment properties. Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in “net gains / (losses) on investments” in the Statement of Financial Activity.

Furniture and equipment (including garden infrastructure)

Furniture and equipment, including garden infrastructure, are valued at depreciated historic cost. They are depreciated over the expected useful life of the asset, as follows:

Plants and trees at the Gardens and Arboretum are regarded as inalienable and historic and they are therefore not included as an asset in the Balance Sheet. Details of the collection are available at the Centre and a summary is provided in the Annual Report.

Assets under construction

Assets under construction are valued at cost. They are not depreciated until brought into use.

Research and development

Research and development costs are written off as incurred.

f. Heritage Assets

Heritage assets are held in pursuit of preservation and/or conservation objectives. The heritage assets include the land on which the arboretum sits as well as the separately acquired Ampfield Woods, an additional strip of land and the Centenary Border. This land is used for the conservation, cultivation, protection and improvement of a collection of plant species and cultivars of the temperate world for the public benefit and educational purposes.

A register of the heritage assets held by the charity is available and they are accessible to the public as visitors to SHHG since they represent the land on which the Gardens and Arboretum collection sits.

24

Heritage assets are capitalised at cost and shown at depreciated historic cost.

Depreciation is charged on heritage assets excluding land, over the asset’s useful life.

g. Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

h. Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably established.

i. Funds accounting

Funds held by the charity are:

Other charitable funds

These are unrestricted general funds that can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds

These are funds set aside by the trustees out of other charitable funds for specific future purposes or projects.

Restricted funds

These are funds that can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the relevant note to the accounts.

Endowment funds

These are funds that represent those assets that must be held permanently by the charity, principally the land on which the gardens and arboretum sit. Income arising on the endowment funds can be used in accordance with the objectives of the charity and is included as unrestricted income.

j. Critical judgements in applying accounting policies

In applying the accounting policies set out in note 2, the trustees have made the following critical judgement:

k. Post balance sheet events

As at 26 January 2022 when the accounts were signed by the Trust Board, there were no post balance sheet events requiring disclosure.

25

Comparative year information for figures reported in Statement of Financial Activities

Note
Income and endowments from
Donations
Charitable activities:
Use of Gardens and Facilities
Education
Investments:
Rents
Other:
Local Authority budgeted
contribution
Gains on disposal of fixed assets
Total income and endowments
Expenditure
Charitable activities:
Management of Gardens and
facilities
Education
Total expenditure
4
Net gains/(losses) on investments
Net income/(expenditure)
Transfer between funds
Gains/(losses) on the revaluation
of fixed assets
Net movement in funds
Reconciliation of funds
Balances brought forward at 1
April
14-
17
Funds balances carried forward
at 31 March		 2019/20
2019/20
2019/20
2019/20
2018/19
Unrestricted
funds
Restricted
funds
Endowment /
Applied
Contributions
Total funds
Prior period
Total funds
£
£
£
£
£
49,869
51,000
-
100,869
112,633
1,370,852
-
-
1,370,852
1,395,214
121,282
-
-
121,282
125,344
118,858
-
-
118,858
116,636
145,321
-
-
145,321
284,005
-
-
-
-
-
1,806,182
51,000
-
1,857,182
2,033,832
1,647,100
750
-
1,647,850
1,729,353
102,335
41,079
-
143,414
117,132
1,749,435
41,829
-
1,791,264
1,846,485
-
-
30,080
30,080
51,860
56,747
9,171
30,080
95,998
239,207
(241,563)
-
241,563
-
-
-
-
-
-
(57,500)
(184,816)
9,171
271,643
95,998
181,707
1,705,602
286,967
8,183,687
10,176,256
9,994,549
1,520,786
296,138
8,455,330
10,272,254
10,176,256

26

Expenditure

a. Analysis of total expenditure

2020/21 2020/21 2020/21
2020/21		 2019/20
Support and
governance Other direct
Staff costs
costs		 costs
Total funds		 Total funds
£ £ £ £ £
Unrestricted funds
Charitable activities
Management of Gardens and facilities 810,047 349,385 893,829
2,053,261		 1,647,100
Education 85,973 - 1,325
87,298		 102,335
Total unrestricted expenditure 896,020 349,385 895,154
2,140,559		 1,749,435
Restricted funds
Charitable expenditure
Management of Gardens and facilities - - -
-		 750
Education 45,578 - -
45,578		 41,079
Total restricted expenditure 45,578 - -
45,578		 41,829
Total expenditure 941,598 349,385 895,154
2,186,137		 1,791,264
Total expenditure 2019/20 855,570 321,963 613,731
1,791,264
b. Analysis of support and governance costs
2020/21 2019/20
Management of Management of
Gardens and Gardens and
facilities facilities
£ £
Employees 108,770 102,971
Communications and IT 66,810 66,456
Postages 13,765 13,620
Finance costs 712 3,847
Governance costs 88,466 70,708
Other 14,415 7,133
Depreciation 56,447 57,228
Total costs 349,385 321,963

27

c. Analysis of governance costs

of governance costs
Local Authority support functions
Audit Fee		 2020/21
2019/20
£
£
82,466
64,708
6,000
6,000
88,466
70,708

Governance costs are made up of the support functions provided by the Local Authority including internal audit, banking, financial reporting, employment practice advice and other strategic support, together with the cost of the external audit.

Analysis of staff costs, trustee remuneration and expenses, and key management personnel

a. Employee information

e information
Salaries
Social security
Pension
Training
Other		 2020/21
2019/20
£
£
838,685
775,311
58,024
55,736
147,414
122,878
3,057
140
3,190
3,442
1,050,370
957,507

No remuneration was paid to trustees in 2020/21, nor were any benefits provided by the charity in return for their role (2019/20: nil). No expenses were paid to the trustees during 2020/21 (2019/20: nil).

The Trust considers the key management personnel to be the trustees and the Director of the Gardens. For 2020/21, total employment benefits including employer pension contributions for key management personnel were £64,756 (2019/20 £60,057).

b. Employee numbers

The average number of employees during the year was:

2020/21 2019/20
Headcount 48 47
Full time equivalent 34.6 33.2

Auditors remuneration

The fee charged by the auditors, Fiander Tovell Limited, for the audit of the 2020/21 annual accounts is accrued at £6,000. For 2019/20, the auditors were Fiander Tovell Limited and the fee was £6,000.

28

Government grants received

overnment grants received
Culture Recovery Fund
Coronavirus Job Retention Scheme (furlough)		 2020/21
2019/20
£
£
925,000
0
24,656
0
949,656
0

Related party transactions

Hampshire County Council is a related party of the charitable trust as sole trustee. The Council provided a contribution of £353,034 in the year 2020/21 (2019/20 £145,321).

Hampshire County Council charges SHHG annually for the provision of support functions including internal audit, banking, financial reporting, employment practice advice and other strategic support. The charge for 2020/21 is £82,466 (2019/20 £70,708).

As a result of the shared banking facilities provided by the County Council, as at 31 March 2021 the cash held by Hampshire County Council on behalf of SHHG was £1,081,059 (31 March 2020 £1,500,673).

There were no related-party transactions involving members or Chief Officers of the County Council responsible for the affairs of the trust.

Gift aid

The total value of Gift Aid included within the Statement of Financial Activity for 2020/21 is £139,456. For 2019/20 the figure was £138,913.

Leasing costs

No costs relating to non-cancellable lease arrangements were incurred in either 2020/21 or 2019/20.

29

Tangible fixed assets

Freehold land
& buildings
£
Investment
assets

£
Furniture &
equipment
(inc garden
infrastructure)

£
Assets under
construction

£		 Total
£
Asset cost, valuation or
revalued amount
Balance brought forward 1
April 2020
Additions
Disposals
Revaluation (to Revaluation
Reserve)
Transfers		 6,769,947
-
-
1,861,591
-		 876,940
-
-
56,834
-		 816,818

19,359

-
-
-		 473,102
1,043,975

-

-
-		 8,936,807
1,063,334
-
1,918,425
-
Balance carried forward 31
March 2021		 8,631,538 933,774 836,177 1,517,077 11,918,566
Accumulated depreciation &
impairment provisions
Balance brought forward 1
April 2020
Disposals
Charges for the year
Revaluation (to Revaluation
Reserve)
Impairment charges
Transfers		 (498,242)
-
(120,206)
618,448
-
-		 -
-
-
-
-
-
(184,767)

-

(28,340)

-

-
-		 -

-
-

-

-
-		 (683,009)
-
(148,546)
618,448
-
-
Balance carried forward 31
March 2021		 - -
(213,107)		 - (213,107)
Net Book Value
Brought forward 1 April 2020		 6,271,705 876,940 632,051 473,102 8,253,798
Carried forward 31 March
2021		 8,631,538 933,774 623,070 1,517,077 11,705,459

a. Tangible fixed assets held at valuation

The historic cost equivalent of land and buildings included at valuation are as follows:

Cost
Accumulated depreciation
Net book value		 2020/21
2019/20
Freehold land
& buildings
Investment
assets
Freehold land
& buildings
Investment
assets
£
£
£
£
3,059,762
329,000
3,059,762
329,000
(1,101,774)
-
(1,042,535)
-
1,957,988
329,000
2,017,227
329,000

30

Freehold land and buildings and investment assets were subject to an independent, professional valuation at 31 March 2021, in line with the Trust’s revaluation accounting policy. Asset revaluations are carried out by RICS qualified valuers from Hampshire County Council's Property Services. For freehold land and buildings the valuation is on either a depreciated replacement cost (DRC) basis or an existing use valuation (EUV) basis; investments assets are valued on a market value basis.

The DRC valuations of freehold land and buildings are subject to the prospect and viability of the continued occupation and use and cannot be relied upon as an indication of the amount that could be recovered if the service was discontinued and the asset retired. Properties valued using the DRC basis are of a specialised nature and the value derived is not based upon evidence of sales of similar assets in the market.

The market value of the investment assets is determined by the RICS qualified valuers based upon the annual rental income they generate.

Heritage assets

a. Analysis of movements in heritage assets during the year

There has been no movement in the overall value of heritage assets during 2020/21. The balance carried forward at 31 March 2021 therefore remains at £201,532.

b. Analysis of heritage assets transactions over the last 3 years

2020/21 2019/20 2018/19
£ £ £
Additions - - 57,500
Revaluation - - (57,500)
2020/21 2019/20
£ £
Other debtors 144,275 22,500

Debtors

Of the other debtors, £17,984 relates to Gift Aid yet to be received for 2020/21 (2019/20 £13,916).

Liabilities: Amounts falling due within one year

Trade creditors 2020/21
2019/20
£
£
(95,505)
(18,958)
(95,505)
(18,958)

Of the trade creditors, £6,000 relates to an accrual for Fiander Tovell Limited’s external audit fee for 2020/21.

31

Analysis of charitable funds

a. Analysis of movements in unrestricted funds

Hillier's development fund
Reserves fund		 Balance at
31 March
2020
Movement in resources
Balance at
31 March
2021
Incoming
Outgoing
Transfers
£
£
£
£
£
1,420,786
2,676,792
(2,140,559)
(914,788)
1,042,231
100,000
-
-
-
100,000
1,520,786
2,676,792
(2,140,559)
(914,788)
1,142,231

The Hillier’s development fund represents the free reserves of the Trust, which may be applied at the discretion of the trustees to further any of the Trust’s charitable objectives.

At 31 March 2021 total contractual capital commitments of £65,000 exist for the ongoing extension of Jermyn’s House. These are due to be spent in line with the completion of the overall project in 2021/22. The value of contractual capital commitments at 31 March 2020 was £1.126m.

Since 2003/4 the Trustee has set aside funds to a designated fund which may be used for the general future development of the gardens.

In accordance with the legal requirement of the Charity Commission and the Sir Harold Hillier Garden and Arboretum's reserves policy, a Reserve Fund was established during 2007/08. The value of the Reserve Fund is reviewed annually by the Trust Board, taking into account the potential risks that SHHG may face.

32

b. Analysis of movements in restricted funds

Hillier’s Expedition fund
50 year development fund
Hillier’s Bursary fund
Elizabeth Creak Trust
Training Fund		 Balance at
31 March
2020
Movement in resources
Balance at
31 March
2021
Incoming
Outgoing
Transfers
£
£
£
£
£
8,945
-
-
-
8,945
186,432
-
-
-
186,432
41,840
-
-
-
41,840
58,921
50,000
(45,578)
-
63,343
296,138
50,000
(45,578)
-
300,560

The Hillier's expedition fund is used to fund botanical and horticultural expeditions and plant collection work.

The 50 year development fund is used to fund projects in line with the Gardens’ 50 year plan. The 50 year plan is currently being updated so whilst there are no immediate plans to utilise the funds, they are being retained for this specific purpose.

Hillier's bursary fund is used to fund training and development activities for permanent members of the Garden's staff.

The Elizabeth Creak Trust Training Fund is used to fund the training of students. This is a restricted grant.

c. Analysis of movement in the endowment funds

Endowment fund
Applied contributions
Revaluation reserve		 Balance
at 31
March
2020
Movement in resources
Balance at
31 March
2021
Incoming Outgoing
Gains/(losses)
on revaluation of
investment
assets
Transfers
£
£
£
£
£
£
826,602
-
-
-
-
826,602
3,581,700
-
-
-
914,788
4,496,488
4,047,028
-
-
2,536,873
-
6,583,901
8,455,330
-
-
2,536,873
914,788
**11,906,991 **

The Endowment fund was established in 1977 to provide an Arboretum and Botanic Garden for the use and benefit of the public.

The applied contributions account shows how much of the contributions have been spent on improvements to buildings and the gardens.

The transfer of £914,788 is the sum of capital expenditure in year of £1,063,334 less depreciation charges for the year of £148,546.

33

Analysis of net assets between funds

Note
Restricted Funds:
Hillier's expedition
14b
50 year development fund
14b
Hillier's bursary fund
14b
Elizabeth Creak Trust
Training Fund
14b
Restricted funds subtotal
Unrestricted funds
14a
Applied contributions
14c
Endowment fund
14c
Revaluation reserve
14c		 Tangible
fixed assets
Investments
Net current
assets
Total
£
£
£
£
-
-
8,945
8,945
-
-
186,432
186,432
-
-
41,840
41,840
-
-
63,343
63,343
-
-
300,560
300,560
-
-
1,142,231
1,142,231
4,496,488
-
-
4,496,488
826,602
-
-
826,602
6,583,901
-
-
6,583,901
11,906,991
-
1,442,791
13,349,782
Reconciliation of net movement in funds to net cash flow from operating Reconciliation of net movement in funds to net cash flow from operating activities
2020/21 2019/20
£ £
Net movement in funds 3,077,528 95,998
Adjustments for:
Depreciation charges 148,546 150,600
(Gains) / losses on investments (56,834) (30,080)
Dividends, interest and rents from investments (113,258) (118,858)
(Profit) / loss on the sale of fixed assets - -
(Gains) / losses on revaluation of fixed assets (2,480,039) -
(Increase) / decrease in debtors (121,775) 1,588
Increase / (decrease) in creditors 76,547 (26,234)
Net cash provided by (used in) operating activities 530,715 73,014
Cash and cash equivalents
2020/21 2019/20
£ £
Cash held on behalf of SHHG by Hampshire County Council 1,081,059 1,500,673
Cash at bank 312,962 312,709
Cash and cash equivalents as at 31 March 1,394,021 1,813,382

34