OpenCharities

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

2024-03-31-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 2024 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 2024

Contents

Contents
LETTER FROM THE CHAIR…………………………………………………………… 3
REPORT OF THE TRUSTEES………………………………………………………… 4
ABOUT THRIVE………………………………………………………………………….. 4-6
STRATEGIC REPORT………………………………………………………………….. 7
Review of 2023/24 (achievement and performance)……………………………… 7-11
Priorities for 2024/25………………………………………………………………….. 11-12
STRUCTURE, GOVERNANCE AND MANAGEMENT ……………………………… 12
Governing document…………………………………………………………………. 12
Recruitment, appointment, induction and training of new trustees……………… 12
Organisational structure and decision making…………………………………….. 12-13
Remuneration statement…………………………………………………………….. 13
Fundraising Standards Compliance………………………………………………… 13-14
GOING CONCERN………………………………………………………………………. 14
EVENTS SINCE THE END OF THE YEAR…………………………………………… 14
REFERENCE AND ADMINISTRATIVE DETAILS……………………………………. 15
STATEMENT OF TRUSTEES’ RESPONSIBILITIES ……………………………….. 16
REPORT OF THE INDEPENDENT AUDITORS……………………………………... 17-19
STATEMENT OF FINANCIAL ACTIVITIES…………………………………………… 20
BALANCE SHEET……………………………………………………………………….. 21
CASH FLOW STATEMENT ……………………………………………………………. 22
NOTES TO THE FINANCIAL STATEMENTS………………………………………… 23-39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

LETTER FROM THE CHAIR

Dear Supporter,

Over the last year we have continued to see the Health and Social Care sectors stretched with growing demand, highly limited resources and lengthening waiting lists. The ongoing mismatch between our nation’s capacity to deliver health and social care services and the current and growing demand is unsustainable. This is adding significant pressure on individuals, health professionals and charities. In this context, the demand for our social and therapeutic horticulture services continues to grow and our advocacy work is critical to building the case for greater access to social and therapeutic horticulture programmes. The demonstrable impact that plants and gardening have on the health and well-being of individuals will be given further profile through the 16th International People and Plant Symposium, that Thrive is co-convening in the Summer of 2024.

During the last year, we have continued to run our regular programmes and short courses at each of our three centres in Birmingham, London and Reading. I’m delighted to report that in the coming months we will be launching new targeted programmes at all three centres, enabling even more people to benefit from our services. Additionally, thanks to generous funding from the Peter Sowerby Foundation, we are pleased to be launching Cultivating Wellbeing, a new digital application, which will support people to improve their health through gardening on an ongoing basis.

Having led Thrive for eleven years Kathryn Rossiter decided to retire in 2023. The Board and I are hugely grateful to Kathryn for her outstanding contribution and dedication over her time as CEO. Kathryn’s commitment to Thrive and the STH sector over that time have had a profound impact, enabling Thrive to grow and support more people and increase the visibility and recognition of the sector. Following a rigorous recruitment process conducted by myself and some fellow Trustees, we were pleased to promote Ben Thomas, Thrive’s current Head of Operations to Chief Executive Officer. We are confident that Ben is the right person to lead the charity to face the current challenges and take advantage of the undoubted opportunities.

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 are also extended to our volunteers who continue to support the delivery of our services; their involvement is vital to our work.

As ever I would like to extend my thanks to all our donors, funders and supporters, individuals, companies, organisations, trusts, grant-makers and in-memoriam givers. Every 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 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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 2024. 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, as well as 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. STH Practitioners 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.

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 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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 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 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

OBJECTIVES AND GOALS

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

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

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.

Our current priority outcomes are:

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

The priority activities to achieve those outcomes are:

Grow our Sector

Grow our Impact

Grow our Organisation Sustainability

Lead and shape the debate Delivery of STH People Strategy Evidence through research Information Service Infrastructure Development Promote good practice Services for Professionals Income Generation Professionalise the Sector 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 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

STRATEGIC REPORT

Review of 2023/24 (achievement and performance)

This year saw the continuation of our work under our 5-year 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 of them.

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 Our CEO has chaired both the Green Care Coalition and the Therapeutic
& performance: Horticulture Stakeholder Group (THSG). Bringing together key sector leaders to
enhance the sector’s voice and build its ability to engage policy makers.
Our commitment to work with Trellis (Scottish Therapeutic Gardening Network)
to establish an independent Association for STH has been widely welcomed and
supported by a new consultative forum for STH Practitioners. The association is
being developed in line with requirements for registration with the Professional
Standards Authority. The new body will provide a route towards STH practitioner
recognition and ensure public benefit through a code of ethics and practice
standards.
Essex University’s research, which was supported by Thrive, into barriers to
commissioning STH has now been published.This paper shows the key barriers
to commissioning STH services and laid the foundation for identifying the next
steps needed to scale up the use of STH within the UK. An in-person meeting of
the Therapeutic Horticulture Stakeholder Group convened by Thrive in March
identified a number of key workstreams.
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.

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.

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.

Page 7 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

Achievements We continue to deliver STH services at, and from, our gardens in Reading, & performance London and Birmingham. During 2023/24, we worked with 414 client gardeners across our centres, delivering a total of 13,227 therapeutic gardening sessions. Our impact survey of our client gardeners, showed some fantastic results:

Our two new therapeutic horticulture programmes in Birmingham, one supporting people with mental ill health and the other for carers are flourishing. The new programmes have helped Thrive to enable more people to gain the health benefits of gardening. On 13[th] October we held the official launch of the National Lottery Heritage Fund in Birmingham. We were very pleased to host the Deputy Lieutenant, the Lord Mayor and David Domoney provided a speech in his Ambassador role for Thrive. During the event, visitors were treated to a tour of the garden. Despite a torrential downpour, the launch was well attended, with many people coming to the gardens for the first time as a result of seeing the posters, banners and social media posts.

Our digital Get Gardening guidance and advice was accessed by 181,403 people, an increase of 95% on the same period last year. With a larger sample size, we are now getting more reliable data on the impact of the service; 94% of survey respondents indicated they had a better understanding of how gardening can improve their health. We also saw strong growth in our Gardening Club e- newsletter, with 28% more people benefiting from the service.

In October 2023 we supported menopause awareness month and World Menopause Day. Our website article, Written in collaboration with Newson Health, on gardening and menopause was viewed 1,046 times during the month. In December 2023, we launched a new winter wellbeing calendar. Providing four-weeks of ideas and gardening activities that supported users to improve their health and wellbeing during winter. The Diploma in STH continues to prove very popular, in the Autumn we held our first graduation. With a 3[rd] full cohort starting in September 23. We saw more positive take up of the Level 5 Award in STH with 18 students registering. Some 1,818 people accessed our training and 91% of attendees reported that they had broadened their skills in STH by attending the course and 86% said that the course had positively impacted their practice. We are very pleased to have started work with the Methodist Housing Association on a vanguard project at 5 of their residential care sites, enabling

Page 8 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

their residents to benefit from gardening activities and time in nature.

Grow our Organisational Sustainability

Thrive has a sustainable operating model.

Achievements In 2022/23 we developed a People Strategy to support the delivery of the & performance strategic plan. In 2023/24 we have been implementing the changes; building progression routes for STH practitioners, re-structuring our Communications and Marketing team and implementing a new management framework. The People Strategy is an ongoing piece of work which we will continue to develop and iterate over the coming years, as we seek to ensure that we have the right skills and capacity to deliver strategic aims.

We repeated our staff engagement survey in January 2024. We were pleased to see improvements in several areas. The survey highlighted the need for more work to ensure all team members have the tools to fulfil their roles effectively and access to learning and development opportunities. We have continued work on our land/asset management project, as we seek to make better use of these assets. An Enterprise Development grant enabled us to redevelop an underutilised building to create a new plant shop in Reading, which has the dual benefit of providing fresh activities for the clients and income to support our organisational sustainability.

Although the financial outlook remains challenging, we are pleased with the positive progress we have made against the prior year, this has largely been driven by improvements in earned and fundraised income and some careful resources management. Our fundraised income in 2023/24 exceeded our target by 20%. Our donor retention remains strong and our BBC Lifeline appeal, promoted by client gardeners, Evan, Randall, and Rebecca showed viewers how STH makes a difference in their lives. Our Thrive Ambassador, garden designer and TV presenter Mark Lane, headed the appeal. Together we successfully raised over £10,700 to further our work. The Big Give appeal generated a further £22,335, a positive improvement of £8,032 against the prior 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 are always doing all they can to support people living with ill-health, disability, loneliness or disadvantage.

Our volunteers have also played a vital role in enabling the delivery of all our services and we are extremely grateful to the 217 people who have volunteered with us across the year, most turning out

Page 9 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

week after week to work with the client gardeners, others providing invaluable support in our offices. Together they gave some 25,509 hours of their time to Thrive. In addition, we hosted 56 corporate days across the 3 centres, providing a further 3,847 hrs of additional work in the gardens.

Financial review

While we recorded a deficit, our financial results for the year to end March 2024 were a marked improvement on the previous year and reflected the hard work and good progress made on the activities within the Strategic Plan.

Total income for the year was £1,628,426, a significant increase of 22% (£298,417) compared to the previous year (£1,330,009). This growth was driven by income for client service delivery, which grew by 20% to £745,091 and, importantly, by revenue generated from fundraising activities. This included increases in major donations and corporate support. Fundraised income totalled £572,097, an increase of 39% (£161,985) compared to 2022/23. We were also pleased to receive further funding for the Information Service.

The overall balance of our income was as follows

Income source Amount (% of total income) Amount (% of total income)
2023/24 2022/23
Charitable Activities £929,993 (57%) £786,552 (59%)
Donations & legacies £572,097 (35%) £410,111 (31%)
Investments £70,249 (4%) £86,330 (6%)
Trading activities £56,087 (3%) £47,015 (3%)

Expenditure for the year was £1,874,179, an increase of £86,745 (5%) compared to the previous year (£1,787,434). The cost of delivering our charitable services increased by £79,961 (6%), primarily due to increased activity. Support costs fell by £29,512 (4%) as we continued to make operational efficiencies. Staff costs were £1,305,562, including a 3% award to all permanent staff in April 2023.

As reported last year, we proceeded with sale of the residential property, and this was completed in August 2023. We continue to review our assets and have engaged external expertise to help us consider options that will increase charitable income.

Overall, we recorded a deficit of £176,585 (2023: £300,024). Cash increased by £121,353 during the year, with a balance at the end of the year of £162,373.

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.

Free reserves (excluding fixed assets and designated funds) total £1,588,924. Included in this total are investments (listed and unlisted) which we use to generate 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 incomegeneration investments giving a figure of £679,364 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,

Page 10 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

or where critical services are only partially funded. Our ‘free reserves’ represent 90% of our target.

Total reserves at 31 March 2024 were £2,982,419 (2023- £3,159,004). This includes fixed assets totalling £1,226,834 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 one to two years and include investments to ensure a better long-term return on our land and property assets, upgrading our IT and telecoms provision and supporting our strategic objectives. The original amount set aside was £475,000 and we have invested £354,164, leaving a fund balance of £120.836 at 31 March 2024. The remaining allocation for each activity can be found at Note 25 in the accounts. The level of designated funds is reviewed regularly in light of strategic and financial priorities.

Priorities for 2024/25

Grow our Sector

Grow our Impact

Grow our Organisation Sustainability

Risk management

As Trustees, we are responsible for overseeing the charity's risk-management activities. The Board

Page 11 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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 are still monitored and assessed throughout the year.

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.

Recruitment, appointment, induction and training of new trustees

The Board currently comprises 11 Trustees who delegate the running of the charity to the CEO and the Chief Finance & Operating Officer.

Trustees are recruited to the Board in response to the need for a recognised skill or capacity. Recruitment is conducted via open advertising, with a description of the key skills, knowledge or experience required 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 five times for formal business meetings, including the AGM, and held a further strategy review workshop. Trustees also met to discuss and agree the recruitment process

Page 12 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

for the post of Chief Executive Officer, following Kathryn Rossiter’s retirement. A selection panel was established, comprising four Trustees, to review applications and design the process for interviews, which were held face to face. A recommendation on the preferred candidate was then made to the wider Board.

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.

We reviewed the work and terms of reference of these Committees, as well as our overall Scheme of Delegation. In 2024/25 we will implement the outcomes of this review to ensure that the Committees continue to focus on our key strategic and operational objectives, including delivery of our charitable services.

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 49 staff, more than half of whom work on a part-time basis (total 39 full time equivalents, FTEs). We also use experienced casual workers to provide essential cover as needed.

Staff costs (salaries, National Insurance and pension contributions) make up a large proportion of the annual cost of running Thrive. Managing staff costs and 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 2023/24 was £1,305,562. The median salary point (FTE) for the organisation was £27,829.

The total staff costs (including National Insurance and employers pension contributions) for the Senior Management Team (listed on page 15) were £226,746. The salaries for senior staff are set using market sector benchmarking and taking into consideration other employee benefits offered by Thrive. The CEO was the highest-paid member of staff. Their remuneration package consisted of an annual salary plus a 5% pension contribution. The CEO’s FTE salary in 2023/24 was £69,236 pa; this sits well within sector benchmarks; it is less than three times the median salary and less than four times the lowest salary. 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

Page 13 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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 2023/24 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.

While we recorded a deficit in financial year 2023/24, the result was a significant improvement on the previous year. Income increased by 23% and expenditure was lower than anticipated. We had some significant successes with fundraising bids and these will provide a good level of secured income for the forthcoming year.

We are aware of the financial challenges facing all charities and those that affect Thrive specifically. The economic pressures on Local Authorities, and Adult Social Care in particular. We are investing in Business Development capacity with a new role, at a senior level, to identify and secure new sources of income.

We are reviewing our assets with the aim of significantly increasing financial returns, and we have a number of options that we will investigate further during 2024/25. There is also the potential to dispose of non-strategic assets in order to provide investment capital for long-term, revenue generating projects.

Page 14 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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 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, resigned 13 November 2023) Mrs Faith Ramsay – Chair (joined 12 Nov 2014) Dr Madeleine Smith (joined 29 March 2021, resigned 4 September 2023)

Senior management team

Mr Ben Thomas – Chief Executive Officer (appointed 1 April 2024) Mrs Kathryn Rossiter – Chief Executive Officer (retired 31 March 2024) Mr Andrew Storm – Chief Finance and Operating Officer 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 SN2 2GA Reading RG1 4QW

Bankers

National Westminster Bank 5 High Street Bracknell Berkshire RG12 1DH

Page 15 of 39

The Society for Horticultural Therapy REPORT OF THE TRUSTEES for the Year Ended 31 March 2024

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:

Report of the Trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30[th] September 2024 and signed on the Board's behalf by:

Faith Ramsay - Chair of Board of Trustees

Page 16 of 39

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

Opinion

We have audited the financial statements of The Society for Horticultural Therapy (the 'charitable company') for the year ended 31 March 2024 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).

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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Page 17 of 39

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

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of noncompliance with laws and regulations related to health and safety, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. 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 posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

Page 18 of 39

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

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and 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 Auditors.

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 Auditco Limited Statutory Auditor Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA

Date: 01/10/2024

Page 19 of 39

The Society for Horticultural Therapy

Statement of Financial Activities for the Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Training and Education
Client services
Information Service
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Training and Education
Client services
Information Service
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
572,097
157,402
640,405
-
56,087
70,249
1,496,240
353,787
318,534
1,052,172
29,130
1,753,623
69,168
(188,215)
3,159,004
2,970,789		 Restricted
funds
£
-
-
104,686
27,500
-
-
132,186
-
-
98,464
22,092
120,556
-
11,630
-
11,630		 2024
Total
funds
£
572,097
157,402
745,091
27,500
56,087
70,249
1,628,426
353,787
318,534
1,150,636
51,222
1,874,179
69,168
(176,585)
3,159,004
2,982,419		 2023
Total
funds
£
410,111
165,528
621,025
-
47,015
86,330
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

The notes form part of these financial statements

Page 20 of 39

The Society for Horticultural Therapy REGISTERED COMPANY NUMBER: 01415700 (England and Wales) Balance Sheet At 31 March 2024

Notes
FIXED ASSETS
Intangible assets
14
Tangible assets
15
Investments
Investments
16
Investment property
17
CURRENT ASSETS
Debtors
18
Investment property
19
Cash at bank
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year 21
NET ASSETS
FUNDS
25
Unrestricted funds:
General fund
Designated - Property and Estate
Investment Property
Designated - Strategic Development
Designated - Research and communication
Restricted funds
TOTAL FUNDS		 2024
£
-
1,226,834
909,560
675,000
2,811,394
170,071
-
162,373
332,444
(150,576)
181,868
2,993,262
(10,843)
2,982,419
2,174,953
87,110
675,000
23,261
10,465
2,970,789
11,630
2,982,419		 2023
£
2,253
1,269,361
840,392
675,000
2,787,006
110,205
370,000
41,020
521,225
(127,540)
393,685
3,180,691
(21,687)
3,159,004
2,296,451
100,000
675,000
42,893
44,660
3,159,004
-
3,159,004

The financial statements were approved by the Board of Trustees and authorised for issue on 30[th] September 2024 and were signed on its behalf by:

F Ramsay - Trustee

The notes form part of these financial statements

Page 21 of 39

The Society for Horticultural Therapy

Cashflow Statement

for the Year Ended 31 March 2024

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 fixed asset investments
Sale of current asset investment
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 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		 2024
2023
£
£
285,028)
(435,733)
285,028)
(435,733)
(23,219)
(4,960)
-
250,000
370,000
-
70,248
86,258
1
72
417,030
331,370
(10,649)
(8,791)
(10,649)
(8,791)
121,353
(113,154)
41,020
154,174
162,373
41,020

The notes form part of these financial statements

Page 22 of 39

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

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 is 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 have been prepared under the historical cost convention modified to include certain items at fair value. The financial statements are prepared on a going concern basis

The Society for Horticultural Therapy meets the definition of a public benefit entity under FRS 102.

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 £246,000 was made for the year ended 31 March 2024 before investment gains. Free reserves (excluding fixed assets and designated funds) at 31 March 2024 were £1,589,130, of which £898,514 are held in unlisted investments.

As detailed in the trustees report the charity has made strategic use of its reserves with some significant successes with fundraising bids and these will provide a good level of secured income for the forthcoming year. The charity will invest in Business Development capacity with a new role, at a senior level, to identify and secure new sources of income. The charity will review their assets with the aim of significantly increasing financial returns, and have a number of options that will be investigated further during 2024/25. There is also the potential to dispose of non-strategic assets in order to provide investment capital for long-term, revenue generating projects.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 23 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty

Valuation of Investment property

In ascertaining the market value of investment land - 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 land would attract on the open market.

Valuation of non-listed shares

In ascertaining the market value of non-listed share prices - the charity has decided to adopt a policy of valuing the assets at the most recent identifiable share price, adjusted for movements on distributable profit, using a 3-year average profit to account for natural annual fluctuations (such as a temporary void property). 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.

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.

Page 24 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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. In ascertaining the market value of non-listed share prices - the charity has decided to adopt a policy of valuing the assets at the most recent identifiable share price, adjusted for movements on distributable profit, using a 3-year average profit to account for natural annual fluctuations (such as a temporary void property).

The Statement of Financial Activities (SOFA) includes the net gains and losses arising on revaluations and disposals throughout the year.

Page 25 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation

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

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		 2024
£
566,096
6,001
572,097		 2023
£
400,090
10,021
410,111

Page 26 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

4.
OTHER TRADING ACTIVITIES
Rental income
Other income
5.
INVESTMENT INCOME
Rents received
Investment income
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Training for professionals
Training and Education
Grants
Client services
Income for rehabilitation
and training in horticultural
skills
Client services
Other income
Client services
Grants
Information Service
Grants received, included in the above, are as follows:
Grow & Learn - Various
Other grant funders
Battersea
Peter Sowerby Foundation
Calleva Foundation
Forward Carers
National Lottery Heritage Fund
7.
RAISING FUNDS
Raising donations and legacies
Staff costs
Sundries
Support costs		 2024
£
6,900
49,187
56,087
2024
£
4,909
65,339
1
70,249
2024
£
157,402
104,686
620,405
20,000
27,500
929,993
2024
£
9,045
44,922
-
27,500
-
12,445
38,274
132,186
2024
£
185,092
27,595
141,100
353,787		 2023
£
6,600
40,415
47,015
2023
£
15,702
70,556
72
86,330
2023
£
165,528
37,141
524,322
59,562
-
786,553
2023
£
3,333
10,608
13,200
-
10,000
-
-
37,141
2023
£
176,136
20,772
167,314
364,222

Page 27 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

8. CHARITABLE ACTIVITIES COSTS

Training and Education
Client services
Information Service		 Direct
Costs
£
187,911
695,610
34,949
918,470		 Support
costs (see
note 9)
£
130,623
455,026
16,273
601,922		 Totals
£
318,534
1,150,636
51,222
1,520,392

9. SUPPORT COSTS

Communication
and
Governance
Management
Development
Totals
£
£
£
Raising donations and legacies
89,288
37,629
14,183
Training and Education
82,658
34,835
13,130
Client services
287,940
121,349
45,737
Information Service
10,297
4,340
1,636
470,183
198,153
74,686		 costs
£
141,100
130,623
455,026
16,273
743,022

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

10. NET INCOME/(EXPENDITURE)

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

Auditors' remuneration
Depreciation - owned assets
Computer software amortisation
Operating leases - other		 2024
£
15,493
65,746
2,253
2,022		 2023
£
10,062
70,301
12,039
651

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

1 (2023 - 0) trustee received reimbursement of travel expenses amounting to £180 (2023-Nil).

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
1,161,649
97,051
46,862
1,305,562		 2023
£
1,137,222
98,905
44,665
1,280,792

Page 28 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

12. STAFF COSTS - continued

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		 2024
7
1
6
21
14
49		 2023
7
1
6
21
13
48

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 £226,746 (2023: £217,408).

The average number of full-time equivalents during the year was 39 (2023 - 38).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Training and Education
Client services
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Training and Education
Client services
Information Service
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
410,111
165,528
583,884
47,015
86,330
1,292,868
364,222
328,722
1,023,346
19,003
1,735,293
157,401
(285,024)
3,444,028
3,159,004		 Restricted
funds
£
-
-
37,141
-
-
37,141
-
-
37,141
15,000
52,141
-
(15,000)
15,000
-		 Total
funds
£
410,111
165,528
621,025
47,015
86,330
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

Page 29 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

14. INTANGIBLE FIXED ASSETS

COST
At 1 April 2023 and 31 March 2024
AMORTISATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Freehold
property
£
1,215,166
-
-
1,215,166
329,864
22,609
-
352,473
862,693
885,302		 Long
leasehold
£
604,664
-
-
604,664
242,226
27,460
-
269,686
334,978
362,438		 Computer
software
£
48,155
45,902
2,253
48,155
-
2,253
Improvement
to
property
£
272,427
18,852
-
291,279
265,155
5,533
-
270,688
20,591
7,272

15. TANGIBLE FIXED ASSETS

Page 30 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

15. TANGIBLE FIXED ASSETS - continued

COST
At 1 April 2023
Additions
Disposals
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Motor
vehicles
£
49,708
-
(25,594)
24,114
49,708
-
(25,594)
24,114
-
-		 Computer
equipment
£
178,072
4,367
-
182,439
163,723
10,144
-
173,867
8,572
14,349		 Totals
£
2,320,037
23,219
(25,594)
2,317,662
1,050,676
65,746
(25,594)
1,090,828
1,226,834
1,269,361

Page 31 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. FIXED ASSET INVESTMENTS

Listed
Unlisted
investments
investments
£
£
MARKET VALUE
At 1 April 2023
11,252
829,140
Revaluations
(206)
69,374
At 31 March 2024
11,046
898,514
NET BOOK VALUE
At 31 March 2024
11,046
898,514
At 31 March 2023
11,252
829,140		 Totals
£
840,392
69,168
909,560
909,560
840,392

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 the most recent identifiable share price, adjusted for movements on distributable profit, using a 3-year average profit to account for natural annual fluctuations (such as a temporary void property).

17. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2023
and 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 £
675,000
675,000
675,000

Properties gifted to the charity comprise land surrounding the charity's premises at Beech Hill.

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 valuation has been assessed by management and trustees and deemed as fair value.

18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income		 2024
£
94,080
75,991
170,071		 2023
£
76,006
34,199
110,205

Page 32 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

19.
CURRENT ASSET INVESTMENTS
Investment property held for sale
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 22)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2024
£
-
2024
£
10,843
29,440
21,209
6,265
82,819
150,576		 2023
£
370,000
2023
£
10,648
43,582
21,171
10,243
41,896
127,540
Deferred income of £32,592 (2023: £8,272) relates to fee income received for the provision of post year the provision of post year
end courses.
21. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans (see note 22) 10,843 21,687
22. LOANS
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year on demand:
Bank loans 10,843 10,648
Amounts falling between one and two years:
Bank loans - 1-2 years 10,843 10,648
Amounts falling due between two and five years:
Bank loans - 2-5 years - 11,039

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.

23. LEASING AGREEMENTS

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

2024 2023
£ £
Within one year 2,276 254
Between one and five years 6,490 -
8,766 254

Page 33 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

24. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
25.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated - Property and Estate
Investment Property
Designated - Strategic Development
Designated - Research and communication
Restricted funds
Information Service 'Gardening for Health'
Forward Carers
TOTAL FUNDS		 Unrestricted
funds
£
1,226,834
1,584,560
320,814
(150,576)
(10,843)
2,970,789
 Restricted
funds
£
-
-
11,630
-
-
11,630
At 1.4.23
£
2,296,451
100,000
675,000
42,893
44,660
3,159,004
-
-
-
3,159,004		 2024
Total
funds
£
1,226,834
1,584,560
332,444
(150,576)
(10,843)
2,982,419
Net
movement
in funds
£
(121,498)
(12,890)
-
(19,632)
(34,195)
(188,215)
5,408
6,222
11,630
(176,585)		 2023
Total
funds
£
1,271,614
1,515,392
521,225
(127,540)
(21,687)
3,159,004
At
31.3.24
£
2,174,953
87,110
675,000
23,261
10,465
2,970,789
5,408
6,222
11,630
2,982,419

Page 34 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

25. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated - Property and Estate
Designated - Strategic Development
Designated - Research and
communication
Restricted funds
Sow & Grow - Reaching Communities
Grow & Learn (Birmingham)
Gardening for Good Health
Information Service 'Gardening for
Health'
Forward Carers
Enterprise Development Programme
National Lottery Heritage Fund
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
1,496,240
(1,686,906)
-
(12,890)
-
(19,632)
-
(34,195)
1,496,240
(1,753,623)
10,422
(10,422)
9,045
(9,045)
14,500
(14,500)
27,500
(22,092)
12,445
(6,223)
20,000
(20,000)
38,274
(38,274)
132,186
(120,556)
1,628,426
(1,874,179)		 Gains and
losses
£
69,168
-
-
-
69,168
-
-
-
-
-
-
-
-
69,168		 Movement
in funds
£
(121,498)
(12,890)
(19,632)
(34,195)
(188,215)
-
-
-
5,408
6,222
-
-
11,630
(176,585)

Page 35 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

25. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
Transfers
movement
between
At 1.4.22
in funds
funds
£
£
£
Unrestricted funds
General fund
2,284,552
(420,024)
431,923
Designated - Property and Estate
172,000
-
(72,000)
Investment Property
910,000
135,000
(370,000)
Designated - Strategic Development
32,816
-
10,077
Designated - Research and
communication
44,660
-
-
3,444,028
(285,024)
-
Restricted funds
Information Service 'Gardening for
Health'
15,000
(15,000)
-
TOTAL FUNDS
3,459,028
(300,024)
-
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
Unrestricted funds
General fund
1,292,868
(1,735,293)
22,401
Investment Property
-
-
135,000
1,292,868
(1,735,293)
157,401
Restricted funds
Sow & Grow - Reaching Communities
9,608
(9,608)
-
Grow & Learn (Birmingham)
3,333
(3,333)
-
Pots & Petals (Trunkwell)
10,000
(10,000)
-
Gardening for Good Health
13,200
(13,200)
-
Information Service 'Gardening for
Health'
-
(15,000)
-
Population Health Management
1,000
(1,000)
-
37,141
(52,141)
-
TOTAL FUNDS
1,330,009
(1,787,434)
157,401		 At
31.3.23
£
2,296,451
100,000
675,000
42,893
44,660
3,159,004
-
3,159,004
Movement
in funds
£
(420,024)
135,000
(285,024)
-
-
-
-
(15,000)
-
(15,000)
(300,024)

Page 36 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

25. MOVEMENT IN FUNDS - continued

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

ICT and Digital Strategy: Funds to develop our Information and Communications capabilities

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

Pots & Petals (Trunkwell): The project provides a 2-hour interactive programme for young people with Profound and multiple learning difficulties, on a weekly basis throughout the year. The programme runs at the Trunkwell Garden Project, where the young people use the Just for Fun garden, which has been specifically designed for them.

Growing Out/ Gardening for Good Health (Battersea): A social and therapeutic horticulture programme

for adults living in London with mental ill-health

Security (Birmingham) - This was a specific initiative to raise funds to purchase security equipment at our Birmingham site which had suffered numerous break-ins and vandalism

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

Page 37 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

25. MOVEMENT IN FUNDS - continued

Life Changers (Battersea) - for those living with life-changing health conditions

Information Service - This is funding for the development of a new, comprehensive on-line service aimed at individuals and their specific circumstances. The service will include an intuitive self-service and personalised information search, evidence-based information, Gardening Tips using new formats and videos, a Cultivating Wellbeing Plan, searchable map of community projects. Launch is expected in 2022/23.

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.

26. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme. The cost for the period was £46,862 (2023: £44,665). Contributions amounting to £6,944 were payable to the scheme at 31 March 2024 (2023: £6,000) and are included within other creditors.

27. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

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

OPERATING ACTIVITIES
2024 2023
£ £
Net expenditure for the reporting period (as per the Statement
of Financial Activities) (176,585) (300,024)
Adjustments for:
Depreciation charges 67,999 82,340
Gain on investments (69,168) (157,401)
Interest received (1) (72)
Dividends and rents from investments (70,248) (86,258)
(Increase)/decrease in debtors (59,866) 18,056
Increase in creditors 22,841 7,626
Net cash used in operations (285,028) (435,733)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 41,020 121,353 162,373
41,020 121,353 162,373

29. ANALYSIS OF CHANGES IN NET FUNDS

Page 38 of 39

continued...

The Society for Horticultural Therapy

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

29. ANALYSIS OF CHANGES IN NET FUNDS - continued

Liquid resources
Deposits included in cash
Current asset investments
Debt
Debts falling due within 1 year
Debts falling due after 1 year
Total		 -
370,000
(
370,000
(
(10,648)
(21,687)
(32,335)
378,685
(		 -
370,000)
370,000)
(195)
10,844
10,649
237,998)		 -
-
-
(10,843)
(10,843)
(21,686)
140,687

Page 39 of 39