OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REGISTERED COMPANY NUMBER: 01415700 (England and Wales) REGISTERED CHARITY NUMBER: 277570

Report of the Trustees and Financial Statements for the Year Ended 31 March 2023 for The Society for Horticultural Therapy

Sumer Audit Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA

The Society for Horticultural Therapy Contents of the Financial Statements for the Year Ended 31 March 2023

Contents

LETTER FROM THE CHAIR................................................................................................................................... 3 REPORT OF THE TRUSTEES ............................................................................................................................... 4 ABOUT THRIVE .................................................................................................................................................. 4 STRATEGIC REPORT ........................................................................................................................................ 7 Review of 2022/23 (achievement and performance) ........................................................................................ 7 Priorities for 2023/24 ...................................................................................................................................... 12 STRUCTURE, GOVERNANCE AND MANAGEMENT ...................................................................................... 13 Governing document ...................................................................................................................................... 13 Charity Code of Governance.......................................................................................................................... 13 Recruitment, appointment, induction and training of new trustees ................................................................. 13 Organisational structure and decision making ............................................................................................... 14 Remuneration statement ................................................................................................................................ 14 Fundraising Standards Compliance ............................................................................................................... 15 GOING CONCERN ........................................................................................................................................... 15 EVENTS SINCE THE END OF THE YEAR ....................................................................................................... 16 REFERENCE AND ADMINISTRATIVE DETAILS ............................................................................................. 16 STATEMENT OF TRUSTEES’ RESPONSIBILITIES ........................................................................................ 18 REPORT OF THE INDEPENDENT AUDITORS ................................................................................................... 19 STATEMENT OF FINANCIAL ACTIVITIES .......................................................................................................... 22 BALANCE SHEET ................................................................................................................................................ 23 CASH FLOW STATEMENT .................................................................................................................................. 24 NOTES TO THE FINANCIAL STATEMENTS ....................................................................................................... 25

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

LETTER FROM THE CHAIR

Dear Supporter,

The world has continued to be a challenging place over the last year as we experience the impact of the Ukraine War, fuel price rises, climate change concerns and the cost of living crisis. These affect us all as individuals, families and communities.

In this uncertain world, there continues to be a demand for our social and therapeutic horticulture services as we seek to improve our client’s health outcomes. We have regular programmes and short courses running at each of our three centres in Birmingham, London and Berkshire.

As a charity we are striving to bring more awareness of the benefits of therapeutic horticulture to a wider audience. Our advocacy efforts have seen Thrive be invited to give audience to the House of Lords Horticulture Committee, a new BBC lifelines appeal fronted by our ambassador Mark Lane and a new partnership between Thrive and Trellis to increase professionalism in and create a governing body for the sector.

We were delighted to be the recipients of a National Lottery Heritage Grant to support our work and increase our outreach in Birmingham where we are based in King’s Heath Park in the old Gardener’s World garden. This grant covers multiple financial years and is an exciting opportunity to celebrate our work to date and more importantly increase awareness and engagement with therapeutic horticulture in the Birmingham area.

Nonetheless, the cost of living crisis has made fund raising ever more challenging. The level of personal giving has struggled to return to the levels it was pre-covid and the current environment only adds more caution to the mix. The Board and the SMT took the decision to sell a cottage in Berkshire that the charity still owned from the original legacy by our founder Dr Geoffrey Udall. Disposing of assets is never an easy decision but the funds raised will support our ongoing work and our current strategy of investing in additional advocacy work and expanding our training and education offering.

As always, I am proud of how hard the senior management team and Thrive staff have worked this year. Their commitment to the purpose of the charity is highly commendable and I am lucky to work with such dedicated and passionate people. This praise and thanks is also extended to our volunteers who continue to support the delivery of client services and the running of the gardens; their involvement is vital to our work.

As ever I would like to thank all our donors, funders and supporters, individuals, companies, organisations, trusts, grant-makers and in-memoriam givers. Every single donation has helped us to continue to deliver our services for the people who need us; your support has never been so important.

Yours sincerely

Faith Ramsay Chair of the Board of Trustees

Page 3 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

REPORT OF THE TRUSTEES

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).

ABOUT THRIVE

What we do

Thrive leads the therapeutic use of gardening and horticulture in the UK. We are the specialists in social and therapeutic horticulture (STH), which is the process of working with plants to improve physical and psychological health and communication and thinking skills.

STH practitioners use the garden as a safe and secure environment in which to develop an individual's ability to socialise, make friends and gain practical skills that make them more independent and self-reliant. They use gardening tasks and the garden environment itself to build a set of activities for each client aimed at improving their health and wellbeing and achieving particular goals identified by the individual themselves or by their family, support workers or carers.

Gardens offer outdoor spaces with the peace and tranquillity needed for rehabilitation and recovery, and the opportunity to develop an interest in gardening will give benefits that can last a lifetime.

The benefits of a sustained and active interest in gardening are:

Whilst improving health and wellbeing are at the core of therapeutic horticulture, there are other benefits for people who take up gardening: developing new skills, learning about food growing and what is good to eat, boosting confidence with new-found knowledge and potentially using this knowledge to gain a qualification in horticulture and thereby gain employment.

How we do it

Our work is done in a variety of ways:

Page 4 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Why we do it

In the UK, c18.9 million people live with a long-term health condition (ONS Mar 20) and 8.4 million people of working age live with a disability (ONS Feb 21). 70% of health and social care spending and 50% of all GP consultations in England are linked to long-term conditions.

Our recent research has shown the following facts about specific forms of ill health and disability, all of which can be helped by structured Social & Therapeutic Horticulture programmes and active engagement with nature:

We have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. We believe that a significant proportion of the UK population will benefit from Thrive's services and we therefore consider that we continue to act in the public benefit .

Page 5 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

OBJECTIVES AND GOALS

As a result of our strategic review, we have refreshed our Strategy which is summarised below.

Our Purpose

To bring health and horticulture closer together so that many more people achieve positive outcomes through Social & Therapeutic Horticulture

Our Vision

Gardening is actively encouraged as part of personal health and wellbeing management and Social & Therapeutic Horticulture (STH) services are available wherever you live

Our Impact

We improve health and wellbeing, reduce isolation and loneliness, increase a sense of occupation and enjoyment, making people's lives more satisfying; in doing so we contribute positively to health and social care services.

The priority outcomes for the next 5 years are:

STH sector is recognised as part of the health & social care landscape STH provides genuine positive impact Thrive has a sustainable operating model

The priority activities to achieve those outcomes are:

Grow our Sector

Lead and shape the debate Evidence through research Promote good practice Professionalise the Sector

Grow our Impact Grow our Organisation Sustainability Delivery of STH People Strategy Information Service Infrastructure Development Services for Professionals Income Generation Partnered services

These activities are interlinked: to grow our impact (and the number of people we reach through our services), we need to grow our sector and the sustainability of our organisation.

Page 6 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

STRATEGIC REPORT

Review of 2022/23 (achievement and performance)

This year saw the start of our work under the new Strategy as well as the continuation of existing delivery and projects. Our 5-year strategic plan sets out our vision and goals under 3 broad outcomes; priority activities have been aligned with each.

Grow our Sector

Vision: STH sector is recognised as part of the health & social care landscape.
Working collaboratively at the local, regional and national levels, the
STH/Green Care sector plays a clear role in connecting communities to their
local green spaces, improving health outcomes and reducing health
inequalities, and in delivering measurable savings for the NHS and social care
sectors.
Goals and •
To lead and shape the debate about how a larger and more
Objectives: professional STH sector can support the care systems and provide
improved outcomes for people with a defined health, social care or
education need
•
To build a movement towards professionalising the sector, engaging
providers/STH Practitioners and commissioners to actively progress
an agenda for professionalisation
Achievements A Therapeutic Horticulture Stakeholder Group (THSG) was established by
& performance: Natural England in March 22 to give focus to scaling up STH; membership
includes policy officers, academics, health care professionals and STH provider
organisations. Thrive took on the role of chair and convenor in September 22
and has led work to create a framework to support the alignment of STH
interventions to different levels of mental health need and supported Essex
University’s research into barriers to commissioning STH – both pieces of work
will be published in 2023/24. The Group also provides a platform for sharing
policy developments related to STH and fostered relationships with the national
Green Social Prescribing projects and provided comments on the draft Toolkit.
We have continued to engage with and build closer connections with both
local/regional and national networks who share our passion for STH/nature-
based interventions and to engage with the new Integrated Care Systems and
associated structures.
Thrive has partnered with Trellis in Scotland to establish a new Association for
STH. We are exploring the requirements of accreditation through the
Professional Standards Authority to create a register of accredited STH
Practitioners. Our joint consultative forum, set up to guide this work, has over
200 members.
Aligned with raising awareness of the professional role of STH Practitioners,
Thrive and Trellis played a key role in the launch of the Inaugural World STH
Day on 18 May 23; this had great engagement with activities linked via many
practitioners and over 12 national associations worldwide.

Grow our Impact

Vision: STH is recognised as providing genuine positive impact.
Thrive is able to make a national-scale impact on health and wellbeing through
delivery of STH programmes and a digital information service, and using our
knowledge and expertise to enable others to deliver STH.
Goals and •
To use our delivery of STH to achieve improved outcomes for people
Objectives: with a defined health, social care or educational need.

Page 7 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Achievements & performance

We continue to deliver STH services at and from our gardens in Reading, London and Birmingham although it has taken longer than planned to bring our client numbers back to pre-Covid levels. This was due to a combination of our staffing changes, changing community connections for referrals and funding constraints. During 2022/23, we worked with 325 client gardeners across our 3 centres, delivering a total of 9,205 therapeutic gardening sessions. Our impact survey of our client gardeners, and also their carers, showed some fantastic result:

March 2023 Client
Engagement
/ Impact		 Carer
Satisfaction
/ Impact
Spent more timegardeningor outside 98% 89%
Socialised more with others 96% 89%
Increased or restored their confidence 100% 96%
Been happier or improved their mental well-being 97% 100%
Improved theirphysical health 98% 96%
Learnt new skills 99% -
Improved behaviour - 88%
Became more active - 93%
Satisfied with Thrive 99% 100%

Our work with our client gardeners was recognised when Thrive was shortlisted for The Sun Who Cares Wins Awards which honours those across the health and social care sector who go above and beyond for their patients and causes. Although we didn’t walk away with the top prize, we made it onto the shortlist of three charities, triumphing over a hundred applications, so were rightly very proud of being recognised for our work.

Our new therapeutic horticulture programme to help deafblind people and others with complex disabilities is flourishing in Birmingham with more clients than ever able to access the service. The site at Sense’s TouchBase Pears is a multi-purpose site that operates as a social enterprise and was praised by HRH Princess Anne when she visited the site.

TV, radio presenter and keen gardener, Zoe Ball visited our centre in Battersea Park and engaged with client gardeners planting out seeds. Zoe was keen to learn how we use STH to bring about positive changes to the lives of so many and described how she finds solace in her garden. We hope to welcome her back for another visit soon.

Page 8 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Made possible with a grant from the Peter Sowerby Foundation, our new gardening for health digital service, Get Gardening, launched in June 22. Since then, almost 105,000 people have accessed Get Gardening, with more than 330,000 articles read. More than 200 guides are now available, covering topics from seasonal gardening activities to inspiring stories and ways to make gardening accessible and enjoyable for all. We have collaborated with partner organisations when creating these to ensure the advice is sound, conduct extra research if necessary and co-promote the articles. Partners include:

There has been hugely encouraging feedback from Get Gardening users. We have a rolling survey in place, with the following results:

Our Gardening Club, launched during the 2020 lockdowns continues to have a strong following with sign-ups reaching 4,238 in March 23.

The Diploma in STH continues to prove very popular with a 2[nd] full cohort starting in September 22; the original intake is now nearing the end of their 2-year course. However, the accredited Award in STH has been less popular and we have been looking into the reasons for that.

Over the year we reintroduced some face-to-face training alongside the blended courses in the National Short Course Programme. Some 1,009 people accessed our free online training modules and 670 attended our paid-for short courses. 97% of attendees reported that they had broadened their skills in STH by attending the course and 96% said that course had positively impacted their practice.

We are very pleased to have been approached by the MHA to work with them on the implementation of their Green Care Strategy, which they launched in May 23, across their older people’s care home network; we look forward to developing this work area.

Grow our Organisational Sustainability

Vision: Thrive has a sustainable operating model.

Achieved through an engaged and effective workforce, effective use of our assets (land & investments) and infrastructure (including facilities, data and digital tools), maximising revenue from our assets and ensuring that our spending is aligned with income.

Achievements We have worked hard on developing our People Strategy which will support & performance delivery of the strategic plan. We have:

Page 9 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

This is a large and ongoing body of work which we will continue to develop and iterate over the coming years.

We repeated our staff engagement survey in September 2022. Our headline results were lower than the previous year’s exceptional results and we are addressing key areas through the development of our People Strategy. Overall I am happy working at Thrive 73% I know what is expected of me at work 76% I feel that my work is recognised & appreciated 65% I can access the right L&D opportunities when needed 57% I have the tools to do my job effectively 65% We have started work on a land/asset management plan and successfully bid for an Enterprise Development Grant to support exploration of options for the use of land at Trunkwell.

We have concluded our data project and implemented the new CRM system. Our fundraising data has been cleaned and is being migrated to the new system which should improve the team’s ability to focus and evaluate their campaigns. New forms have been designed to support an improved Client Services onboarding process.

Although our financial results for the year were disappointing, we were able to make a number of changes to how we are using resources to manage costs effectively and to our pricing for services. The impact of turn-over within the fundraising team in late 21/22 was acutely felt in this year and the planned step change increase in supporter and donor numbers was not achieved. However, good work was done on the Big Give initiative (Nov/Dec 22) and we are grateful to the Leisure and Outdoor Furniture Association (LOFA) and the Reed Foundation who supported this initiative and provided the match funding pot. We also extend our heartful thanks to all of our donors (individuals, groups, corporates, trusts and foundations) who generously support our work this year.

Our Staff & Volunteers

We would like to thank Thrive's staff and volunteers for their continued commitment and professionalism throughout this period. Many of them go well beyond what is expected of them and always doing all they can to support people living with ill-health, disability, loneliness or disadvantage.

Our volunteers have played a vital role in enabling the delivery of all our services and we are extremely grateful to the 221 people who have volunteered with us across the year, most turning out week after week to work with the client gardeners, others providing invaluable support in our offices. Together they gave some 19,881 hours of their time to Thrive. In addition, we hosted 54 corporate days across the 3 centres, a significant increase on last year, providing a further 2,711 hrs of additional work in the gardens.

Page 10 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Financial review

Our financial results for the year to end March 2023 were disappointing and do not reflect the hard work and good progress made on the activities within the Strategic Plan.

Total income for the year was £1,330,009, a decrease of 7% (£97,869) compared to the previous year (£1,427,878) which had been boosted by the £100k grant from the Peter Sowerby Foundation for our new Information Service.

Income for delivery of client services increased by 8% as we moved towards pre-Covid activity levels. However, this was offset by a drop in income from our training courses (down 13%) and a smaller drop in fundraised income (2% decrease), the latter was considered a positive result given the turnover in the fundraising team over the last 18 months.

The overall balance of our income was as follows

Income source Amount (% of total income) Amount (% of total income)
2022/23 2021/22
Charitable Activities £786,552 (59%) £845,868 (59%)
Donations & legacies £410,111 (31%) £418,457 (29%)
Investments £86,330 (6%) £98,922 (7%)
Trading activities £47,015 (3%) £46,262 (3%)
Coronavirus Job Retention Scheme £-(-%) £18,369 (1%)

Expenditure for the year was £1,787,434, an increase of £129,943 (8%) compared to the previous year (£1,657,490).

The cost of delivering our charitable services increased by £120,435 (15%), with much of the increase related to inflation. There was similar increase in support costs which increased by £104,685 (16%). Again, inflation had a negative affect and we also invested in buildings and grounds maintenance. The increase in costs was partly offset by a reduction in spend on the Information Services following the significant development investment in the prior year. We invested £12,500 in the first phase of the development of a new database which will improve the quality and use of data, as well as delivering operational efficiencies across Thrive.

Staffing remains our largest cost at £1,280,792, an increase of £118,447 (9%). These costs included salary increases of between 1% and 3%.

We disposed of £250,000 of our listed investments, and these had a total value of £11,252 at 31 March 2023. Our investment properties increased in value by £135,000. The residential property has been reclassified on the balance sheet pending sale.

Overall, we recorded a significant deficit of £301,885 (2022: £211,260). The cash balances and short-term deposits decreased during the year by £113,154 to £41,020. The pressure on cashflow was anticipated and, as reported last year, we reviewed our asset base and disposed of listed investments (as above).

Reserves and investment policies

Thrive holds long-term investment assets to generate a return, protecting the charity's capital base and supporting future delivery of charitable activities and aims. Shorter term assets are held to provide revenue to support the operational requirements of the charity. We review the level of reserves annually in line with the budget and business plan to ensure that sufficient and appropriate resources are available to deliver charitable aims, support the charity’s strategy and to meet contingencies.

Page 11 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Free reserves (excluding fixed assets and designated funds) total £1,699,838. Included in this total are investments (listed and unlisted) which we use to generate essential income to support ongoing operations. We therefore do not consider those investments themselves to be part of our available reserves in the short to medium term. Our reserves are calculated as total reserves less income-generation investments giving a figure of £859,446 which we refer to as ‘free reserves’. Our Reserves Policy, which is reviewed annually by Trustees, is to hold the equivalent of 6 months of expenditure so that we can continue to meet commitments to deliver services in the event of a funding shortfall, or where critical services are only partially funded. For 2023/24 this is budgeted at £845,000.

Total reserves at 31 March 2023 were £3,159,004 (2022 - £3,444,028). This includes fixed assets totalling £1,271,614 which can only be realised upon disposal of those assets. Our reserves also include amounts designated for specific, strategic projects to enhance our charitable activities and improve long-term financial sustainability. These will be undertaken over the next 2 years and include investments to maintain the value of our physical assets, supporting our strategy, developing our ICT systems including implementation of a new CRM, and investment in research. The original amount set aside was £475,000 and the fund balance at 31 March 2023 is £187,553 and the allocation for each activity can be found at Note 26 in the accounts. The level of designated funds is reviewed regularly in light of strategic and financial priorities.

Priorities for 2023/24

Grow our Sector

Grow our Impact

Grow our Organisation Sustainability

Page 12 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Risk management

As Trustees, we are responsible for overseeing the charity's risk-management activities. The Board manages Thrive's risks through a Strategic Risk Register, which is incorporated in the Annual Business Plan and is monitored by the Finance and Risk Committee.

Strategic risks are the high-level risks that could prevent Thrive from meeting its objectives and they are identified following the annual Board workshop to review forward objectives and external influences. We describe each risk, giving the scenario under which it may occur; we then assess each risk in terms of the impact it would have on the organisation and the likelihood of it occurring, given the current controls and mitigation plans in place. We have identified actions required to mitigate the risk further; with all risks and actions assigned to a named individual. Risks with an impact-likelihood score above our threshold are prioritised for immediate action and close monitoring. Risks with an impact-likelihood score below the threshold are of lower priority but must still be monitored and assessed throughout the year.

For 2023/24, the following are identified as the significant risks aligned to the Strategic Plan:

Operational risks are kept under regular review by the management team and a ‘Protecting People Risk Register’ has been produced in accordance with Charity Commission guidance.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thrive was established under the terms of its governing Memorandum and Articles of Association in 1978, which were updated in 2009 and 2015, and is constituted as a company limited by guarantee.

Charity Code of Governance

During 2022 we undertook a detailed review of our governance, with the aid of an independent assessment. This looked at both our governance practices in terms of the Charity Code of Governance (hard drivers) and our behaviours, culture, values etc. (soft drivers) to identify databased priorities and to plan and implement improvements.

These results indicate that there are no major issues around the governance of Thrive, but that most areas could be further improved. The three areas highlighted for focus were Risk & Control, Income Generation and Committees. Actions agreed included: a review of how the Committees focus their efforts and enhance their reporting to the full Board; ensuring that the risk register is considered at each Board meeting; and maintaining the focus in the current strategic plan on income generation activities.

Recruitment, appointment, induction and training of new trustees

The Board currently comprises 13 Trustees who delegate the running of the charity to the CEO and the Chief Finance & Operating Officer.

Page 13 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Trustees are recruited to the Board in response to the need for a recognised skill or capacity. Recruitment is done via open advertising, with a description of the key skills, knowledge or experience being sought and an overview of the role and responsibilities of a Trustee. Thrive's own networks and communication channels are used along with recognised recruitment websites. Selection is through a two-stage interview process with the Chair, CEO and other Trustees as considered necessary.

Trustees may serve on the Board for up to nine years. One third of Trustees are required to stand down each year and may be re-appointed. The Chair and Vice Chair(s) are elected annually from amongst the Trustees; there are no restrictions on re-appointment.

All new Trustees undertake an induction process, which includes a full briefing on the business strategy, organisational structures, financial and risk matters, hands-on experience of working with our clients and volunteers, and attendance on a governance-training course. Further training is made available based on individual needs.

Recent Trustee recruitment and the adoption of video conferencing for Committee and some Board meetings has helped to widen the diversity of the Board in terms of experience, age and geography.

Organisational structure and decision making

Last year we met as a Board four times for formal business meetings and held a further strategy planning workshop.

At our formal meetings, we considered long-term strategy, risk, current direction and finance. The senior management team monitors the budget each month and provided updates at each Board meeting.

The Chair and the CEO have regular meetings for the purpose of keeping up to date with developments and providing support to the CEO.

We have three sub-committees, which each meet 4 times a year and report to the main Board.

Remuneration statement

Thrive relies heavily on donated funds and the ongoing support of its volunteers and funders. It is important to us that these resources are used to maximum effect so that we can continue to deliver quality services to some of the most vulnerable people in our communities. Thrive employs 48 staff, more than half of whom work on a part-time basis (total 38 full time equivalents, FTEs), and a further 19 sessional workers, who provide essential cover as needed.

Staff costs (salaries and pension contributions) make up a large proportion of the annual cost of running Thrive. Managing staff costs whilst ensuring that the charity has the appropriate mix of skills and expertise to achieve its objectives is an important part of ensuring the ongoing success and viability of Thrive. The total staff cost for Thrive in 2022/23 was £1,280,792. The median salary point (FTE) for the organisation was £25,908.

Page 14 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

The total staff costs (salary, employer's national insurance and employers pension contributions) for the Senior Management Team (listed on page 17) were £217,408. The CEO, Kathryn Rossiter, is the highest-paid member of staff. Her remuneration package consists of an annual salary plus a 5% pension contribution. The CEO’s FTE salary in 2022/23 was £67,218 pa; this sits well within sector benchmarks being less than three times the median salary and 4 times the lowest. She reduced her working hours in April 2022 from 35 to 21 hours per week following a restructure in the Senior Management Team.

For 2023/24, the CEO received a cost of living salary uplift of 3% in common with all other staff.

Fundraising Standards Compliance

We continue to adhere to the Code of Fundraising Practice and maintain our compliance with the Fundraising Standards set by the Fundraising Regulator to whom we pay an annual levy.

We received no complaints in relation to our fundraising activities. Our website clearly sets out our Fundraising Promise, outlines our complaints policy for the public and sets out the systems, recording and reporting we have in place.

We do not use third-party or professional fundraisers, although several companies have signed commercial participation agreements with us and made donations in 2022/23 from the sale of specified products via their normal sales channels. We are satisfied, through our relations with the companies, that the sales processes used were compliant with fundraising regulations.

We adhere to the Charities (Protection and Social Investment) Act 2016, and regularly check the guidance, making sure that we protect those who may have a vulnerable status. If we believe that an individual (or group of individuals) is unable to make a certain decision or does not have the mental capacity to do so, we will not accept the donation from that person. If the donation has already been made, and at the time of donating the individual lacked capacity (and Thrive receives evidence of this) we will return the donation.

GOING CONCERN

It is the view of the Trustees that Thrive remains a going concern.

We are making progress against our Strategic Plan, a key part of which is to ensure long term financial sustainability.

Despite a difficult year financially, we have continued to effectively manage our cash requirements and are making strategic use of our reserves. We have invested in our Governance with an independent review, in our staff with the development of our People Strategy, and in our infrastructure with the implementation of a new CRM system and data management processes. We have built a stronger fundraising team and invested in our external-facing activities with the aim of raising awareness of our work and understanding of our sector’s potential. We will continue to build on these foundations to grow the reach and impact of our services and move towards a more financially sustainable position.

As Trustees we have reviewed the Strategic Plan in the light of our financial results and recognise that, whilst further challenges await us, the direction of travel is positive. We have made changes to our monitoring arrangements to ensure we remain sighted on progress and are able to take early action if drift is detected.

Our future plans are ambitious. Our ambition needs to be underpinned by a sustainable and confident organisation and we are confident that we are well placed to achieve our strategic goals.

Page 15 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered company number

01415700 (England and Wales)

Registered charity number

277570

Registered office

The Geoffrey Udall Centre Beech Hill Reading RG7 2AT

Our Royal Patron

HRH Princess Alexandra

Trustees

The Trustees are also the directors of the company. At the time of writing, the following Trustees are in post or were in post during part of the year:

Mr Shanewaz Akhtar (joined 15 November 2018) Prof. Sam Brockington (joined 29 March 2021) Mr David Dyer (joined 13 June 2019) Ms Shelley Frost (joined 15 November 2018; resigned 12 September 22) Ms Victoria Hemmingway (joined 9 September 2021) Dr John James (joined 29 March 2021) Ms Debbie Jarrett (joined 15 November 2018) Ms Bene Kariger (joined 13 June 2019) Ms Sophy Kershaw (joined 15 November 2018) Mr Ian Miller (joined 9 September 2021) Mr Neil Leadbitter (joined 9 September 2021) Ms Alina Lourie – Vice Chair (joined 18 February 2015) Mrs Faith Ramsay – Chair (joined 12 Nov 2014) Dr Madeleine Smith (joined 29 March 2021)

Senior management team

Mrs Kathryn Rossiter – Chief Executive Officer Mr Andrew Storm – Head of Finance and Resources Mr Ben Thomas - Head of Operations Mrs Sally Wright – Head of Innovation and Marketing

Independent auditors

Solicitors

Sumer Audit Field Seymour Parkes Hermes House The Old Coroner's Court Fire Fly Avenue 1 London Street Swindon PO Box 174 Wiltshire Reading SN2 2GA RG1 4QW

Page 16 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

Bankers

National Westminster Bank 5 High Street Bracknell Berkshire RG12 1DH

Page 17 of 37

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also the directors of The Society for Horticultural Therapy for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Auditors

In accordance with good practice, Trustees will review audit requirements and tender for audit services for 2023-24.

Report of the Trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 4[th] September 2023 and signed on the Board's behalf by:

Faith Ramsay - Chair of Board of Trustees

Page 18 of 37

Report of the Independent Auditors to the Members of The Society for Horticultural Therapy

REPORT OF THE INDEPENDENT AUDITORS

Opinion

We have audited the financial statements of The Society for Horticultural Therapy (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Page 19 of 37

Report of the Independent Auditors to the Members of The Society for Horticultural Therapy

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, employment law, Companies Act 2006 and Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements of the charity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Statement of Recommended Practice and Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to revenue recognition, management override, and management bias in accounting estimates

Page 20 of 37

Report of the Independent Auditors to the Members of The Society for Horticultural Therapy

and judgemental areas of the financial statements such as the depreciation policy, valuation of debtors and valuation of fixed asset investments. Audit procedures performed by the audit engagement team included:

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and the transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Gare (Senior Statutory Auditor) for and on behalf of Sumer Audit Statutory Auditors Hermes House, Fire Fly Avenue Swindon Wiltshire SN2 2GA

Date: ............................................. 20 September 2023

Page 21 of 37

The Society for Horticultural Therapy Statement of Financial Activities for the Year Ended 31 March 2023

STATEMENT OF FINANCIAL ACTIVITIES

Notes
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
410,111
Charitable activities
6
Training and Education
165,528
Client services
583,884
Information Service
-
Investment income
5
86,330
Other trading activities
4
47,015
Total
1,292,868
EXPENDITURE ON
Raising funds
7
364,222
Charitable activities
8
Training and Education
328,722
Client services
1,023,346
Information Service
19,003
Total
1,735,293
Net gains/(losses) on investments
157,401
NET INCOME/(EXPENDITURE)
(285,024)
RECONCILIATION OF FUNDS
Total funds brought forward
3,444,028
TOTAL FUNDS CARRIED FORWARD
3,159,004		 Restricted
funds
£
-
-
37,141
-
-
-
37,141
-
-
37,141
15,000
52,141
-
(15,000)
15,000
-		 2023
Total
funds
£
410,111
165,528
621,025
-
86,330
47,015
1,330,009
364,222
328,722
1,060,487
34,003
1,787,434
157,401
(300,024)
3,459,028
3,159,004		 2022
Total
funds
£
418,457
189,036
572,390
100,000
98,921
49,074
1,427,878
303,717
314,684
954,089
85,000
1,657,490
18,352
(211,260)
3,670,288
3,459,028

The notes form part of these financial statements

Page 22 of 37

The Society for Horticultural Therapy Balance Sheet 31 March 2023

BALANCE SHEET

Notes
2023
£
FIXED ASSETS
Intangible assets
15
2,253
Tangible assets
16
1,269,361
Investments
Investments
17
840,392
Investment property
18
675,000
2,787,006
CURRENT ASSETS
Debtors
19
110,205
Investment Property
20
370,000
Cash at bank
41,020
521,225
CREDITORS
Amounts falling due within one year
21
(127,540)
NET CURRENT ASSETS
393,685
TOTAL ASSETS LESS CURRENT LIABILITIES
3,180,691
CREDITORS
Amounts falling due after more than one year 22
(21,687)
NET ASSETS
3,159,004
FUNDS
26
Unrestricted funds:
General fund
2,296,451
Investment Property
675,000
Designated Funds
Property and Estate
100,000
Strategic Development
42,893
Research and communication
44,660
3,159,004
Restricted funds
-
TOTAL FUNDS
3,159,004		 2022
£
14,292
1,334,702
1,067,991
910,000
3,326,985
128,261
154,174
282,435
(119,914)
162,521
3,489,506
(30,478)
3,459.028
2,284,552
910,000
172,000
32,816
44,660
3,444,028
15,000
3,459,028

The financial statements were approved by the Board of Trustees and authorised for issue on 4[th] September 2023 and were signed on its behalf by:

F Ramsay – Trustee

The notes form part of these financial statements

Page 23 of 37

The Society for Horticultural Therapy Cash Flow Statement For the Year Ended 31 March 2023

CASH FLOW STATEMENT

Notes
Cash flows from operating activities
Cash generated from operations
28
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of investments asset
Dividends and rents from investments
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash (used in) / provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
(435,733)
(435,733)
(4.960)
250,000
86,258
72
331,370
(8,791
(8,791)
(113,154)
154,174
41,020		 2022
£
(252,839)
(252,839)
(9,389)
-
160
89,532
(8,874)
(8,874)
(172,181)
326,355
154,174

The notes form part of these financial statements

Page 24 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

NOTES TO THE FINANCIAL STATEMENTS

1. STATUTORY INFORMATION

The Society for Horticultural Therapy is a company limited by guarantee, without share capital, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity's registration number and registered office address can be found in the trustees' report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which meets the definition of a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are prepared on a going concern basis.

The accounts are presented in Sterling, which is the functional currency of the Charity, and rounded to the nearest pound.

Going concern

A loss of some £457,000 was made for the year ended 31 March 2023 before investment gains. Free reserves (excluding fixed assets and designated funds) at 31 March 2023 were £1,699,838, of which £829,140 are held in unlisted investments. The majority of the listed investments were sold during the year, and the cottage was sold post year end.

As detailed in the trustees report the charity has made strategic use of its reserves and has invested in building a stronger fundraising team and infrastructure with the implementation of a new CRM system and data management processes. The charity will continue to build on these foundations to grow the reach and impact of the services and move towards a more financially sustainable position. Therefore the trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

Valuation of Investment property; In ascertaining the market value of investment land and property - the Charity has relied on the professional judgement of surveyors. The valuation is based on their best professional judgement but does not necessarily reflect the final value the property would attract on the open market.

Valuation of non-listed shares: In ascertaining the market value of non-listed share prices, the charity has estimated the value based on a multiplication of the return obtained from the investment. This does not necessarily reflect the final value of the shares should they aim to sell them.

These estimates and assumptions have the most significant effect on recognition and measurement of assets. Actual results may be substantially different.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Interest

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Grants

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. When entitlement occurs before income is received, the income is accrued.

The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet.

Page 25 of 37

The Society for Horticultural Therapy Notes to the Financial Statements

for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued Income Continued

Donations

Donations are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured.

Training income

Income from training courses is recognised in line with performance.

Legacies

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Costs are apportioned by the basis of actual costs where possible. Where costs cannot be attributed directly to particular headings they have been allocated on a basis consistent with the use of head count.

Redundancy/ termination payments

Termination benefits are measured at the best estimate of the expenditure required to settle the obligation at the reporting date. If the expected settlement date of the termination payments is 12 months or more after making the provision and the effect would be material, the present value of the obligation is calculated using an appropriate discount rate.

Computer software

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses. Computer software is being amortised evenly over the estimated useful life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on straight line basis
Long leasehold - 4% on a straight line basis
Improvements to property - 20% on straight line basis
Motor vehicles - 25% on straight line basis
Computer equipment - 10%-25% on straight line basis

All assets costing more than £750 are capitalised.

Investment property

Investment properties are included in the accounts at open market value. All movements arising from revaluation are shown in the Statement of Financial Activities. Realised gains and losses on investment properties are calculated as the difference between the disposal proceeds and the market value at the beginning of the year or cost of purchases during the year. Unrealised gains and losses are derived from the movement in the market values during the year.

Other investments

Investments are stated at market value at the balance sheet date. The Statement of Financial Activities (SOFA) includes the net gains and losses arising on revaluations and disposals throughout the year.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 26 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects 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 notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. DONATIONS AND LEGACIES

Donations
Legacies
4.
OTHER TRADING ACTIVITIES
Grants - CJRS
Rental income
Other income
5.
INVESTMENT INCOME
Rents received
Investment income
Deposit account interest		 2023
2022
£
£
400,090
394,4575
10,021
24,000
410,111
418,457
2023
2022
£
£
-
2,812
6,600
6,600
40,415
39,662
47,015
49,074
2023
2022
£
£
15,702
13,368
70,556
85,393
73
160
86,330
98,921		 2023
2022
£
£
400,090
394,4575
10,021
24,000
410,111
418,457
2023
2022
£
£
-
2,812
6,600
6,600
40,415
39,662
47,015
49,074
2023
2022
£
£
15,702
13,368
70,556
85,393
73
160
86,330
98,921
98,921

Page 27 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

6. INCOME FROM CHARITABLE ACTIVITIES

Training and Education
Grants
Training
Client services
Grants
Horticultural Therapy
Other income
Information Service
Grants received, included in the above, are as follows:
Coronavirus Job Retention Scheme
Client Services - Battersea
Client Services - Birmingham
Various
Information Service
7.
COST OF RAISING FUNDS & BUSINESS DEVELOPMENT

Costs include partnership and business development activities
Staff costs
Sundries
Support costs		 2023
£
-
165,528
37,141
524,322
59,562
.-
786,533
2023
£
-
23,200
3,333
10,608
-
37,141
2023
£
176,136
20,772
167,314
364,222		 2022
£
2,460
186,576
74,351
451,197
46,842
100,000
861,426
2022
£
15,557
41,299
19,955
-
100,000
176,811
2022
£
168,308
21,572
113,837
303,717

8. CHARITABLE ACTIVITIES COSTS

Training and Education
Client services
Information Service		 Direct
costs
£
Support costs
(see note 9)
£
178,055
150,667
623,351
437,136
16,586
17,417
817,992
605,220		 Totals
£
328,723
1,060,487
34,003
1,423,212		 Totals
£
328,723
1,060,487
34,003

9. SUPPORT COSTS

Raising donations and legacies
Training and Education
Client services
Information Services		 Management
£
Communication
and
Development
£
101,257
47,755
91,183
43,003
263,428
124,237
10,541
4,971
466,409
219,966		 Governance
costs
£
18,302
16,481
49,471
1,905
86,159		 Totals
£
167,314
150,667
437,135
17,471
772,534

Support costs have been allocated on the basis of head count.

Page 28 of 37

The Society for Horticultural Therapy Notes to the Financial Statements

for the Year Ended 31 March 2023

10 NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration
Depreciation - owned assets
Computer software amortisation
Operating leases - other		 2023
£
10,062
70,301
12,039
651		 2022
£
9,656
77,223
12,039
3,496

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

No Trustees (2022 - 1) received reimbursement of travel expenses (2022 - £134).

12. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Raising donations and legacies
Governance
Charitable activities-Training/Education
Charitable activities-Client services
Support and Communication		 2023
£
1,137,222
98,905
44,665
1,280,792
2023
7
1
6
21
13
48		 2022
£
1,074,043
91,096
42,226
1,207,365
2022
6
1
6
23
12
48
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:
2023
£60,001 - £70,000
-		 2022
1

The Key Management Personnel of the charity consists of the Senior Management Team as listed on page 21. The total amount of employee benefits (salary, employer's national insurance and employers pension contributions) paid to key management personnel in the year was £217,408 (2022: £233,056).

The average number of full-time equivalents during the year was 38 (2022 - 37).

Page 29 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Training and Education
Client services
Information Service
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Training and Education
Client services
Information Service
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
14.
GOVERNMENT GRANT INCOME
Coronavirus Job Retention scheme		 Unrestricted
funds
£
418,457
189,036
510,029
-
49,074
98,921
1,265,517
303,717
314,684
850,232
-
1,468,633
18,352
(184,764)
3,628,792
3,444,028		 Restricted
Funds
£
-
-
62,361
100,000
-
-
162,361
-
-
103,857
85,000
188,857
-
(26,496)
41,496
15,000
2023
£
-		 Total
Funds
£
418,457
189,036
572,390
100,000
49,074
98,921
1,427,878
303,717
314,984
954,089
85,000
1,657,490
18,352
(211,260)
3,670,288
3,459,028
2022
£
18,369

There were no unfulfilled conditions or other contingencies attached to these grants. The charity received a government backed coronavirus Bounce Back Loan – see note 22. The charity has not directly benefited from any other forms of government assistance.

Page 30 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

15. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Computer
Software
£
COST
At 1 April 2022 and 31 March 2023 48,155
AMORTISATION
At 1 April 2022 33,863
Charge for year 12,039
At 31 March 2023 45,902
NET BOOK VALUE
At 31 March 2023 2,253
At 31 March 2022 14,292

16. TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Freehold
Property
£
1,215,166
-
1,215,166
307,255
22,609
329,864
885,302
907,911
Motor
Vehicles
£
49,708
-
49,708
46,741
2,967
49,708
-
2,967		 Long
Leasehold
£
Improvements
to property
£
599,704
272,427
4,960
-
604,664
272,427
213,298
260,769
28,928
4,4286
242,226
265,155
362,438
7,272
386,406
11,658
Computer
Equipment
£
Totals
£
178,072
2,315,077
-
4,960
178,072
2,320,037
152,312
980,375
11,411
70,301
163,723
1,050,676
14,349
1,269,361
25,760
1,334,702

Page 31 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

17. FIXED ASSET INVESTMENTS

Listed
Investments
£
Unlisted
Investments
£
MARKET VALUE
At 1 April 2022
270,185
797,806
Disposal
(250,000)
-
Revaluations
(8,933)
31,334
At 31 March 2023
11,252
829,140
NET BOOK VALUE
At 31 March 2023
11,252
829,140
At 31 March 2022
270,185
797,806		 Totals
£
1,067,991
(250,000)
22,401
840,392
840,392
1,067,991

There were no investment assets outside the UK.

The listed securities comprise of units in the charity common investment fund, Charifund, managed by M&G investments.

The unlisted securities comprise of shares in Estate Incomes Limited. The charity owns 12.92% of the total number of shares in that company, all shares being ordinary shares.

Unlisted investments are valued on the basis of a multiplication of the return obtained from the investment.

18. INVESTMENT PROPERTY

FAIR VALUE
At 31 March 2022
Revaluations
Reclassification
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 £
910,000
135,000
(370,000)		 £
910,000
135,000
(370,000)
675,000
675,000
910,000

Properties gifted to the charity comprise land surrounding the charity's premises at Beech Hill and a cottage in Beech Hill village.

The cottage was valued in June 2023, by Reliable Property Group, and the land was valued in June 2023 by BCM, in accordance with the appropriate sections of the current RICS Professional Standards and RICS Valuation Practice Statements contained in the RICS Valuation - Professional Standards 2014 incorporating the IVSC Valuation Standards (the 'Red Book'). The cottage has been reclassified as asset held for sale.

19. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Assets held for sale
Prepayments and accrued income		 2023
£
76,006
370,000
34,199
480,205		 2022
£
99,251
-
29,010
128,261

Page 32 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

20. CURRENT ASSET INVESTMENTS

Investment property held for sale 2023
£
370,000		 2022
£
-

At the time of preparing these financial statements the Charity was in advanced negotiation to sell its investment property in Beech Hill village. The asset has been moved to current assets as it is expected to complete the transaction within the next financial period.

21. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2023
£
10,648
43,582
21,171
10,243
41,896
127,540		 2022
£
10,648
20,554
23,012
1,000
64,700
119,914

Deferred income of £8,272 (2022: £7,137) relates to fee income received for the provision of post year end services

22. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

23.

Bank loans (see note 23)
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due between one and two years:
Bank loans – 1-2 years
Amounts falling due between two and five years:
Bank loans – 2-5 years		 2023
£
21,687
2023
£
10,648
10,648
11,039		 2022
£
30,478
2022
£
10,648
10,648
19,830

The loan is supported by the Bounce Back Loan Scheme (BBLS). The Bank have received a guarantee from the UK Government under BBLS. The charity is responsible for the repayment of the loan. The interest rate is 2.5% per year.

24. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2023
£
254
-
254		 2022
£
651
254
905

Page 33 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

Page 34 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

25. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Funds
£
Restricted
Funds
£
Fixed assets
1,271,614
-
Investments
1,515,392
-
Current assets
521,225
-
Current liabilities
(127,540)
-
Long term liabilities
(21,687)
-
3,159,004
-
26.
MOVEMENT IN FUNDS
At 1.4.22
£
Net
movement
in funds
£
Unrestricted funds
General fund
2,284,552
(420,024)
Investment Property
910,000
135,000
Designated - Property and Estate
172,000
-
Designated -Strategic Development
32,816
-
Designated - Research and communication
44,660
-
3,444,028
(285,024)
Restricted funds
Information Service
15,000
15,000
15,000
(15,000)
TOTAL FUNDS
3,459,028
(300,024)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Resources
expended
£
Unrestricted funds
General fund
1,292,868
(1,735,293)
Restricted funds
Grow & Learn (Birmingham)
3,333
(3,333)
Sow & Grow (Birmingham)
9,608
(9,608)
Population Health Management
1,000
(1,000)
Gardening for Good Health (Battersea)
13,200
(13,200)
Information Service ‘Gardening for Health’
-
(15,000)
Pots & Petals (Reading)
10,000
(10,000)
37,141
(52,141)
TOTAL FUNDS
1,330,009
(1,787,434)		 2023
Total
Funds
£
2022
Total
Funds
£
1,271,614
1,348,994
1,515,392
1,977,991
521,225
282,435
(127,540)
(119,914)
(21,687)
(30,478)
3,159,004
3,459,028
Transfer
between
funds
£
At 31.3.23
£
431,923
2,296,451
(370,000)
675,000
(72,000)
100,000
10,077
42,893
-
44,660
-
3,159,004
-
-
-
-
-
3,159,004
Gains and
losses
£
Movement In
Funds
£
157,401
(285,024)
-
-
-
-
-
-
-
-
-
(15,000)
-
-
-
(15,000)
157,401
(300,024)		 2022
Total
Funds
£
1,348,994
1,977,991
282,435
(119,914)
(30,478)
3,459,028
(15,000)
(300,024)

Designated Funds

Property & Estate: Funds for the maintenance, upgrade and development of buildings and surroundings Thrive. Investment Property: Investment property fund - for longer term security of the charity. Strategic Development: Funds for the development of Thrive’s strategic aims.

Research and communication: Funds for the development, commissioning and dissemination of research related to STH/Green Care

Page 35 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

26. MOVEMENT IN FUNDS - Continued

Restricted funds

Grow & Learn (Birmingham): The aim of this project is to enable 14 - 19 year olds with special educational needs to learn new skills, gain vocational qualifications and build self-confidence through a supported horticultural training programme.

Population Health Management (Birmingham): Is an initiative under the Integrated Care System to bring together local NHS services, local councils, and voluntary organisations to meet the health and care needs of their communities.

Sow & Grow (Birmingham): This programme is for small groups of socially isolated older people. Sessions will support individuals with:

• form friendships and gain confidence to help them build local support networks, and

• re-engage with their local community, motivating them to become more active citizens

Gardening for Good Health (Battersea): A social and therapeutic horticulture programme for adults living in London with mental ill-health

Information Service: This is a comprehensive on-line service aimed at individuals and their specific circumstances. The service includes an intuitive self-service and personalised information search, evidence-based information. Pots & Petals (Trunkwell): The project provides a weekly 2-hour interactive programme for young people with profound and multiple learning difficulties.

Comparatives for movement in funds

Unrestricted funds
General fund
Property and Estate
Investment Property
Strategic Development
Research and communication
ICT and Digital Strategy
Restricted funds
Grow & Learn (Birmingham)
Pots & Petals (Trunkwell)
Information Service ‘Gardening for Health’
TOTAL FUNDS		 At 1.4.21
£
Net
movement
in funds
£
Transfer
between
funds
£
At 31.3.22
£
2,372,277
(184,764)
97,039
2,284,552
172,000
-
-
172,000
910,000
-
-
910,000
117,816
-
(85,000)
32,816
44,660
-
-
44,660
12,039
-
(12,039)
-
3,628,792
(184,764)
-
3,444,028
24,703
(24,703)
-
-
16,793
(16,793)
-
-
-
15,000
-
15,000
41,496
(26,496)
-
15,000
3,670,288
(211,260)
-
3,459,028

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Sow & Grow – Reaching Communities
Grow & Learn (Birmingham)
Pots & Petals (Trunkwell)
Gardening for Good Health
Security (Birmingham)
Life Changers (Battersea)
Growing Out (Battersea)
Information Service ‘Gardening for Health’
TOTAL FUNDS		 Incoming
resources
£
Resources
expended
£
Gains and
losses
£
Movement In
Funds
£
1,265,517
(1,468,633)
18,352
(184,764)
9,924
(9,924)
-
-
10,031
(34,734)
-
(24,703)
-
(16,793)
-
(16,793)
11,869
(11,869)
-
-
1,107
(1,107)
-
-
15,000
(15,000)
-
-
14,430
(14,430)
-
-
100,000
(85,000)
-
15,000
162,361
(188,857)
-
(26,496)
1,427,878
(1,657,490)
18,352
(211,260)

Page 36 of 37

The Society for Horticultural Therapy Notes to the Financial Statements for the Year Ended 31 March 2023

27. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme. The cost for the period was £44,665 (2022: £42,226). Contributions amounting to £6,000 were payable to the scheme at 31 March 2023 (2022: £6,263) and are included within other creditors.

28. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

29. POST BALANCE SHEET EVENTS

On 1 August 2023, the property, held at the balance sheet date as an investment property held for sale, was sold for £370,00 less selling costs.

30. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.

Net expenditure for the reporting period
(as per the Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gains)/Losses on investments
Interest received
Dividends and rents from investments
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash used in operations
ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Liquid Resources
Deposits included in cash
Current asset investment
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1.4.22
£
154,174
154,174
-
-
-
(10,648)
(30,478)
(41,126)
113,048		 2023
£
(300,024)
82,340
(157,401)
(72)
(86,258)
18,056
7,626
(435,733)
Cash flow
£
(113,154)
(113,154)
-
370,000
370,000
-
8,791
8,791
265,637		 2022
£
(211,260)
89,262
(18,352)
(160)
(98,761)
(19,397)
5,829
(252,839)
At 31.3.23
£
41,020
41,020
-
370,000
370,000
(10,648)
(21,687)
(32,335)
378,685		 2022
£
(211,260)
89,262
(18,352)
(160)
(98,761)
(19,397)
5,829
(252,839)
At 31.3.23
£
41,020
41,020
-
370,000
370,000
(10,648)
(21,687)
(32,335)
378,685
(32,335)
378,685

Page 37 of 37