Company no. 04965522 Charity no. 293190 # **Friends of Westonbirt Arboretum Report and Audited Financial Statements 31 December 2023** ## **Friends of Westonbirt Arboretum** ## **Reference and administrative details** **For the year ended 31 December 2023** |**Company number**|04965522||| |---|---|---|---| |**Charity number**|293190||| |**Registered office and**|The Great Oak Hall||| |**operational address**|Westonbirt, The National Arboretum||| ||Tetbury||| ||Gloucestershire||| ||GL8 8QS||| |**Trustees**|Trustees, who are also directors under company law, who served during||| ||the year and up to the date of this report, and the subcommittees on which||| ||they served, were as follows:||| ||E Bottrill|(resigned 4 May 2023)|1| ||O Forster||2| ||N Frost|(appointed 13 July 2023)|3| ||L Grant|(retired 13 July 2023)|1| ||M Green|(resigned 28 November 2023)|1| ||P Isherwood||1| ||M Mintram|(retired 12 October 2023)|| ||N Sachdev|(appointed 13 July 2023)|1,2,3| ||M Smith||2,3| ||S Troupe||2| ||C Walker|(appointed 13 July 2023)|1| ||R Walker||4| ||A Woods|(resigned 23 February 2024)|1| ||Committees to the board|Chairperson|| ||1. Joint working panel|M Green (Disbanded on 15 December|2023)| ||2. Finance and risk panel|M Smith|| ||3. Enterprise board|M Smith (Nigel Frost from 15 December|| |||2023)|| ||4. Human resources|R Walker|| ||The Chair of Trustees has|an ex-officio appointment on all committees|| |**Senior leadership team**|The management of FoWA is overseen by a senior leadership team||| ||employed by the Trust during the year. This comprised as follows:||| ||E Griffiths|Chief Executive|| ||H Turner|Finance Director|| |**Bankers**|Lloyds Bank PLC||| ||14 Castle Street||| ||Cirencester||| ||Gloucestershire||| ||GL7 1QJ||| 1 ## **Friends of Westonbirt Arboretum** ## **Reference and administrative details** ## **For the year ended 31 December 2023** ## **Auditors** CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD 2 Friends of Westonbirt Arboretum Financial statements For the ear ended 31 December 2023 2023 highlights thii Goodwill Partnership Secured £180.000 In fundralsirva Free Wllkwrttl partnership Ralsed ovff £1.650 from contactless donatton boxes sI￿t *lemb*51 Volunteers sF3ned up695 mqmbws IrKreased annual mgmbershlp ratgs Enhanced user navlgatlon on charlty wqbsite ••• Intwwetstion Instsll•d to lebrate c￿r hlstory Seconded numer￿$ fvnded roles to FE Workngwlth ACCRSS to Nature to adthess barrl•rs ## **Friends of Westonbirt Arboretum** ## **Chair's statement** ## **For the year ended 31 December 2023** In 2023, our dedicated and long-standing outgoing Chair, Mike Mintram, concluded his 3 term, 9 year tenure with us. On behalf of our entire community, we extend heartfelt gratitude for his unwavering stewardship and inspirational leadership throughout his tenure. Trustee, Gavin Grant, also retired from his position after 9 years of diligent service to the Charity and we also received resignations from Martin Green and Beth Bottrill during the year and extend our thanks to them for their invaluable contributions during their respective tenures. As we bid farewell, we warmly welcomed new additions to our Board of Trustees, including myself as Chair, alongside Christian Walker and Nigel Frost, who bring invaluable expertise and energy to our cause. We can record with pride that during 2023, FoWA agreed to new grant commitments of £226,118 in support of Arboretum projects. It is good to see many projects completed, or near completion, including the Green Woodworking Shelter which complements the Community Shelter very well and is getting good use from Community Groups. We have had a successful fundraising year and secured £156,637 for the Silk Wood Regeneration Community Planting Project. The site is now cleared, and community groups are engaged in planting. It is really exciting to see this space come back to life, and we continue to fundraise over the coming year for this project. This and other projects are discussed in greater detail within this report. During the year we paid out at total of £297,650 against previously committed grants to Forestry England projects and other third parties whose work will enhance and develop the site. These include; ongoing funding of a PhD student to carry out research in partnership with the University of the West of England (UWE), the ongoing Coppice Apprenticeship and from our Community Grant Giving we supported children and families to access the Forestry England Wild Wonder Childrens Literature Festival. In addition to supporting Forestry England through the provision of grants, we also provided £20,124 in Shop rental and £718,718 Arboretum Access Rights payments (AARP). The AARP that we make to Forestry England allows our members free access to the site during usual opening hours. This income goes directly to the running of the site, contributing a sizeable proportion of the site’s overall income. Through our trading subsidiary, the Shop, we ensure a vibrant retail experience that enhances visitor enjoyment while generating essential revenue for site maintenance and development. We recruited a new Buying & Retail Manager in 2023, and he has quickly got to work with securing new product lines that further compliment the site and are locally sourced, where possible. FOWA staff continue to build strong collaborative relationships with Forestry England staff, both on site and at a national level. We are continuing to work collaboratively, developing plans for the site and in particular joint fundraising activity to make these plans become a reality. In 2024, we are looking forward to supporting the emerging Masterplan and proposed works to continue to achieve the Ten-year vision for the site: ‘To be a world leader in trees, inspiring people through education, participation and conservation’. As we embark on this journey, we extend heartfelt thanks to our Members and Supporters for their continued commitment to the site. **Neil Sachdev - Chair of the Board of Trustees** 4 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** Reference and administrative information set out on pages 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019). ## **About the charity** Westonbirt, The National Arboretum (the Arboretum) is the location for a historic, Victorian picturesque landscape and internationally important tree and shrub collection that is managed by Forestry England with the support of the FoWA. The nearly 15,000 labelled specimens come from Britain, China, North America, Japan, Chile and other temperate climates. The Arboretum covers 600 acres and consists of three main areas: the Old Arboretum is a carefully designed landscape dating from the 1850s offering beautiful vistas, stately avenues and trees from around the world; Silk Wood is an ancient, semi-natural woodland which has exotic planting throughout its landscape; and the Downs is Grade 1 registered and hosts species-rich grassland. FoWA is a local Charity with over 36,000 members. Its mission is to further the public enjoyment and knowledge of Westonbirt Arboretum and to secure its sustainable future. The Charity was established in 1985 by a small group of enthusiasts who were committed to the preservation and development of this unique landscape. The Charity works closely with Forestry England to support their aspirations for the long-term development of the Arboretum. The Charity has a dual legal status as a registered company regulated under company law, and as a registered Charity regulated under Charity law. It is governed for public benefit by the Trustee Board according to the Charity’s Articles. The strategic direction and development of the Charity is managed by the Trustee Board, alongside an established Finance and Risk Committee providing additional financial control. The day-to-day operation of the Charity is delegated to the Chief Executive and staff team. The Charity is committed to good governance and good practice in fundraising, having voluntarily chosen to follow the Code of Fundraising Practice (as overseen by the Fundraising Regulator) and the Charity Governance Code (as endorsed by the Charity Commission). ## **Structure, governance and management** Governing document The governing document is the Memorandum and Articles of Association incorporated on 17 November 2003, as amended by special resolutions in 2008, 2011, 2012, 2014 and 2018. FoWA is a membership and fundraising organisation for Westonbirt, The National Arboretum and as of 31 December 2023 we had 36,418 Members. The Board is accountable to the Charity Commission as a registered Charity. 5 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** ## Recruitment and appointment of Trustees There are currently eight Trustees on the Board. Trustees are recruited following a skills audit of Board members to ensure that the Board has the right mix of skills and experience. The services of a recruitment consultant may be used to recruit new Trustees. Trustees are required to retire from office following the completion of their term of office, serving a maximum of three terms of office. There is an induction process to support new Trustees, set out in the Trustee policy, including meetings with key staff and stakeholders and offers training and development opportunities. The Board meets at least five times during the year. There are also three subcommittees: a Joint Working Panel (disbanded in December 2023), an Enterprise Board and a Finance and Risk Panel, which meet four to five times per year. Additionally, there is a Human Resources Panel which is convened when needed. Membership of committees is set out on page 1. The Trustees have continued to keep FoWA’s governance needs and the diversity of the Board under review. The Trustees are responsible for staff pay, benefits and terms and conditions. Detailed oversight of finance is delegated specifically to the elected Treasurer who works closely with the Finance Director and keeps the Board informed. ## Risk management Risk is managed through a risk management register and detailed policy; this is reviewed by the CEO alongside a Trustee with specialist expertise in risk management who reports to the full Board. Major risks are reviewed annually by the full Board and are kept under review on a quarterly basis by the Finance and Risk Panel. The Board monitors impact, probability, mitigations taken and identifies any additional action required. Key potential risks facing FoWA that require careful monitoring include the impact of any major changes in membership recruitment and retention which is often influenced by the current economic climate. Other risks are cyber security and data protection, staff turnover and the relationship with Forestry England who run the site. ## Organisational structure Day-to-day responsibility for operations of FoWA is delegated to the full-time employed Chief Executive Officer (CEO) and, through them, to the staff team. FoWA is committed to good governance: during 2020 a governance review was performed to ensure maintenance of good standards of practice and further reviews will be held periodically going forwards. FoWA is also a fully paid member of the Fundraising Regulator and are committed to good practice in fundraising. The Board works closely with the CEO to set the strategic direction of FoWA, as well as working with key stakeholders such as Forestry England. This has been demonstrated through the Joint Working Panel and, going forward, the Joint Steering Board attended by senior FoWA staff and senior Forestry England staff. The Director of the Arboretum (employed by Forestry England) attends the Board meetings as a guest to report on performance and developments of the Arboretum on a quarterly basis. 6 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** ## Related parties Forestry England is the site manager of the Arboretum and the major beneficiary of our grant giving. To this end, FoWA has in place a partnership agreement that is signed off by the Board of Trustees and FE senior management. We have a grant policy in place with a transparent process for application and awarding of grants against our charitable objectives and criteria set in the policy. In awarding grants, the recipient (including Forestry England) are bound by the terms of those grants to provide impact reporting and we monitor the completion of projects against these terms. ## Pay policy for key management staff The Trustees consider that the Board of Trustees, the Chief Executive Officer and the Senior Management comprise the Key Management personnel of the Charity in charge of directing and controlling, running and operating on a day-to-day basis. All Trustees give their time freely and no Trustee received remuneration or other benefit from their work in the year. Details of Trustees’ expenses are disclosed in note 11 to the accounts. The pay for the Chief Executive Officer and all staff is reviewed by the Board of Trustees annually. The pay review includes a third party benchmarking against both the voluntary sector and visitor attractions. Consideration is also given to staff performance during the pay review and adjusted as appropriate. ## **Aims, objectives and activities** ## Objectives The Friends of Westonbirt Arboretum aims to further public enjoyment and knowledge of the Arboretum’s world-renowned tree collection and to secure its sustainable future. It does this by engaging, informing and increasing its membership and also by giving financial and practical support to the management and development of Westonbirt, The National Arboretum and, in particular, by: - providing support to the National Arboretum at Westonbirt in promoting public understanding of the critical role of trees to the environment and society; - providing support for the Arboretum’s research and education in all fields relating to trees; - providing support for the conservation, maintenance and development of the unique tree collection and historic landscape for future generations; - providing funds to enhance the public’s experience at the Arboretum; - acting as an advocate for the Arboretum, promoting its values and the need for continuing funding; - providing support to the Arboretum by cultivating the Charity’s relationship with its members so as to encourage long-term relationships and fundraising opportunities; - promoting opportunities for access and participation to a diverse range of public individuals and groups; and - providing funds for such other charitable purposes as will further the work of the Arboretum. ## Strategies In December 2019, a new vision for the Arboretum as a whole was launched by Forestry England entitled ‘Our Place in a Changing World’, which focusses on responding to the environmental and human challenges we face over the next 10 years as the climate and society changes. The vision is for the Arboretum to be _**A world leader in trees, inspiring people through conservation, education and participation.**_ 7 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** 2020 saw FoWA begin delivery of its 3-year strategy, focusing on the following priorities with the overall aim of supporting the Arboretum and this shared Ten-Year Vision, as detailed below: - contributing to the Arboretum Development Masterplan; - helping to deliver Arboretum Development projects; - improving the supporter journey; and - increasing stakeholder engagement. Progress against this strategy has been positive for FoWA, despite it running through the time period and upheaval of Covid Pandemic, staff changes, in both FoWA and Forestry England, and an economic and fuel crisis in the UK. Forestry England’s Masterplan of developments for the site continues to evolve and emerge and during 2023 we have funded some exciting projects and developments relating to this plan and further details of this funding are provided in subsequent sections of this report. With the establishment of FoWA’s new Chair and Board members, the CEO, Finance Director, and the staff team resource and time has been focussed on reviewing our operations to ensure we are efficient and effective in all areas of the charity - which is particularly pertinent during the economic crisis our country is currently facing. The Board and staff have spent time revisiting the Charity purpose and reviewing the effectiveness and impact achieved to date. This work has been carried out in consultation with the Board of Trustees, all staff at FoWA and through stakeholder engagement, including our partners at Forestry England and Members via a members’ survey. FoWA enhanced its fundraising capability during 2023 to enable on-site developments to come to fruition, alongside Forestry England's own investment in the site, as key development projects have taken shape. The latter part of 2023 enabled us opportunity to reflect on this progress and as the newly appointed Board and staff establish themselves, fresh ideas and approaches will inform the development of FoWA’s strategy for 2024 and beyond. ## Public benefit The Charity provides several public benefits, primarily focused on supporting the Arboretum itself. This is made possible through fundraising and generating income through membership, with this income we support, enable and facilitate the following, primarily through our strong partnership and collaboration with Forestry England who manage the site. Conservation and Preservation: The Charity contributes to the conservation and preservation efforts of Westonbirt Arboretum, ensuring that the diverse collection of trees and plants are maintained for future generations to enjoy. Education and Outreach: The Charity payment to Forestry England for Members to access the site contributes to the running cost of the educational programs, workshops, and guided tours to schools and the public, promoting environmental awareness and appreciation for nature. Access and Enjoyment: The Charity works to improve access to the Arboretum, making it more enjoyable and accessible for visitors of all ages and abilities. Research and Development: Funding from the Charity supports research initiatives aimed at better understanding tree species, ecosystems, and environmental sustainability, seed collection and conservation efforts. 8 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** Community Engagement: The Charity supports through grants the facilitation of community events, volunteer opportunities, and membership engagement, fostering a sense of belonging and stewardship among supporters of both the Charity itself and Forestry England, Westonbirt. Overall, the Charity plays a crucial role in enhancing the Arboretum's value as a public resource, both ecologically and recreationally. ## **Achievements and performance** During the year, FoWA’s main activities fell into the following areas: 1. Membership 2. Arboretum Access Rights Payment (AARP) 3. Fundraising 4. Grant giving 5. Retail ## Membership As a membership organisation, FoWA relies on the lifeblood of our membership income, enabling us to raise charitable funds to meet our charitable objectives in support of Westonbirt Arboretum. Increase in membership numbers directly impacts the level of Arboretum Access Rights Payments FoWA makes to the Arboretum: greater membership numbers result in a greater level of financial support for the Arboretum through further grant giving. The Supporter Engagement and Servicing Team have focussed on improving Westonbirt’s supporter journey by encouraging regular visits to the site through marketing initiatives, tactics, and incentives. Members receive comprehensive membership benefits whilst sitting inside the permissible Gift Aid threshold, such as shopping discounts with partner organisations and entry to partner gardens, newsletters and ‘behind the scenes’ updates. Members have played a vital role in FoWA since it was established in 1985 and continue to be pivotal in enabling the Charity to support the Arboretum and secure its sustainable future for generations to come. We are truly grateful for their ongoing loyalty and support, which not only allows us to support the maintenance of the Arboretum on a regular basis, but also to provide support for an ambitious vision which will secure the future sustainability of the Arboretum. By the end of 2023, we had 36,418 members, and 73% of those memberships were eligible for Gift Aid. This resulted in membership income of £1,436,608 (including Gift Aid). ## Member feedback: _“I’ve been a member of Westonbirt for many years now. I think originally because I enjoyed the calm and peace I felt whilst there. In the last few years, I’ve grown fascinated by the life of trees. How they communicate, how they provide a home to so many species even after they die. And of course, how much we as humans depend on them to survive. They are doing vital work and need our support to continue doing it.”_ _“My personal journey with Westonbirt is woven with memories of exploration, learning, and finding peace in nature's embrace. It's a place that has shaped my love for the environment and the importance of preserving these precious natural spaces.”_ 9 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** _I'm passionate about securing donations to support Westonbirt because I believe in its transformative power.”_ _“Westonbirt holds many special memories for me and as a result of the excellent customer service I purchased a Christmas Gifted membership for my family member today – thank you”._ ## Arboretum Access Rights Payment (the AARP) The AARP is the payment FoWA makes to Forestry England, the site managers, to secure access for Members. This money is then incorporated into the site’s income and goes towards Forestry England’s operational management of the site. This includes: - conservation and tree management work including collection and landscape management, propagation activity, dendrology, survey and inventory work, and volunteer, student and work experience; - education, learning and interpretation, including enabling schools to use the Arboretum to support the learning of their pupils and supporting visitors’ understanding of the importance of trees in general, and Westonbirt in particular, as well as widening access from underrepresented audiences; - volunteer participation support; and - improving accessibility to the Arboretum, including the funding and maintenance of mobility scooters. The 2023 AARP was £718,718. ## Fundraising Fundraising in 2023 has comprised a mixed income portfolio of individual donations and grants from trusts and foundations. During the year we received £175k of income from external trust and grant foundations and £56k from individuals through various forms of donations. ## Silk Wood Community Planting Project The Silk Wood Community Planting Project has been a major fundraising focus of our joint activities. During the year we raised **£156,637** through trust and grant fundraising. This was further supplemented by Forestry England’s own fundraising efforts. ## Acknowledgement of support We, and the Westonbirt FE team, are extremely grateful to the following funders for their support via grants in 2023: - John Horseman Trust - Swire Charitable Trust - Garfield Weston Foundation - MillerKnoll Foundation - D’Oyly Carte Charitable Trust - ▪ Gloucestershire Funders – Silk Wood Community Planting Project Forestry England statement _“This project is an ambitious three-year endeavour to not just restore the woodland, but to transform it into a vibrant "Community Woodland" – a living testament to collaboration and environmental stewardship._ 10 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** _Hundreds of passionate individuals are joining forces with the dedicated team at Westonbirt. Together, they'll embark on a journey of shared purpose: designing the future of the forest, clearing the ground, and meticulously planting 9,000 carefully chosen saplings._ _Over 20 resilient tree species will be woven into the landscape, creating a tapestry of biodiversity and strength. This includes a mixed of our well-known native tree species but also some non-natives chosen for their resilience to harsher extremes in weather, temperature changes or anticipated pest and disease threats._ _This isn't just about planting trees; it's about building a legacy. A legacy of community, of environmental responsibility, and of hope for a greener future."_ ## Grants awarded and paid During 2023, we received impact reports for grants that had been awarded in previous years and projects that came to an end during the year. A number of these projects had experienced some delays due to Covid and resourcing, however, progress has been made toward completion and the majority are now finalised or close to completion. More details of these projects can be found on our website: https://www.fowa.org.uk/our-cause/what-we-do/projects/ During 2023 FoWA paid out a total of **£254,753** in relation to **previously awarded grants.** **Oct 2018 Community Shelter and Green Wood Working Shelter (sum awarded - £58,845)** the Community Shelter was an exciting programme that built, in partnership with the community groups who now use it, a beautifully designed timber framed structure using timber from the arboretum in Silk Wood. FoWA had previously agreed to provide a grant of £59k. The aim of the Community Shelter is to host a bespoke programme of events and activities to give disadvantaged and excluded individuals the opportunity to participate in coppicing, green woodworking, bush crafts, arts and crafts and learning to use the cob oven. https://www.fowa.org.uk/our-cause/what-we-do/projects/communityshelter-project During 2023, the Green Wood Working Shelter element of this grant was completed: https://www.fowa.org.uk/our-cause/what-we-do/projects/green-woodworking-shelter/ **Oct 2018 Coppice Shelter and Composting Toilet (sum awarded £49,000)** The budget for the Coppice Shelter was developed in 2018 but completion was delayed by COVID and staff shortages. Significant construction progress was made in 2022 with the work being completed in January 2023. https://www.fowa.org.uk/our-cause/what-we-do/projects/coppice-shelter-project **Jan 2021 Quarantine House (sum awarded £62,000)** The Quarantine House was completed in early 2023 with the first plant material going into quarantine in spring of that year. https://www.fowa.org.uk/our-cause/what-we-do/projects/quarantine-house-project **Jan 2019 Arboretum Access Improvements (sum awarded £305,489)** FoWA had previously confirmed its funding support for this ambitious project that consisted of three main elements: signage, car park landscaping and footpath improvements. Some of this work was delayed due to Covid and the final part of the project concluded in 2023 which was car park landscaping and heritage fencing installation. 11 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** **July 2022 Silk Wood Project Manager (sum awarded - £82,500)** FoWA awarded salary costs for 1 year 11 months, including employers costs for pension, NI and other salary levies for the employment of a Project Manager to plan and initiate the Community replanting programme, (https://www.fowa.org.uk/our-cause/what-we-do/our-work/silk-wood-community-planting/) in addition a portion of this grant was used to contract a freelance bid writer to support trust and grant fundraising for this project. The project manager was appointed in January 2023. https://www.fowa.org.uk/blog/new-silk-wood-project-manager **Dec 2022 Westonbirt Community Coordinator (sum awarded £73,000)** This grant was awarded to fund the appointment of a Forestry England employed Community Co-ordinator over 2 years to March 2025. The post holder will co-curate/develop activities in response to the specific needs of the individuals and community groups they work with. This will ensure the best outcomes for the participants, many of whom have complex needs. The Community Shelter providing a great space for engagement and a hub for activity in the woodland. _“The Community Coordinator in January 2023. With a team of 22 dedicated volunteers, the programme continues to work with a diverse range of groups to support participants’ positive mental health and wellbeing, enabling them to connect with nature and enjoy the fantastic, therapeutic benefits that Westonbirt has to offer._ _In 2023 just under 800 people visited as part of the ‘led programme’ and a further 1,527 people came on group self-led visits through the Community Access Scheme. (The Community Access Scheme allows visitors who would otherwise face barriers to visiting the arboretum independently, to enjoy all the wellbeing and mental health benefits at a reduced rate.)_ _The Community Shelter, and new Green Woodworking Shelter, are the setting for most of the Community Programme activities, including our Wild Westonbirt youth group. Through activities such as practical conservation tasks, woodland crafts, wildlife watching and campfire cook-ups, 14 – 18year-olds gain confidence and make friends, whilst boosting their mental health and wellbeing”._ Feedback from Forestry England. _“ It was an amazing experience and I learnt so many new skills. I enjoyed the meals we had, being there to see the new growth in the coppice area and seeing how we have made a difference to the community shelter was really great. Also thank you so much for being my DofE [Duke of Edinburgh] assessor and helping me complete my volunteering section of the award”._ Wild Westonbirt participant. **Dec 2022 Westonbirt Interpretation Projects (sum awarded £10,000)** A grant was awarded to Forestry England to update on site interpretation to support the vision in strengthening the connection between visitors and trees. The funding has been used to design and purchase tree plinths to highlight 40 key specimens. The grant will be complete in April 2024. **Dec 2022 Westonbirt Tree Conservation Manager (sum awarded £180,000)** FoWA have funded the 3-year appointment of a Forestry England employed Tree Conservation Officer, whose appointment started in April 2023, and to contribute to the cost of associated tree research trips and seed collections. 12 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** _“As highlighted in the State of the World’s Trees, published by Botanic Gardens Conservation International (BGCI) in September 2021, 30% of the world’s tree species are threatened with extinction in the wild. To scale-up tree conservation, in partnership with Forestry England and multiple other institutions, BGCI is establishing a suite of Global Conservation Consortia (GCC), to address the conservation needs of highly threatened tree groups. Consortia established so far include groups of great significance to Forestry England tree collections: maples, oaks, magnolias and rhododendrons. Additionally, the GCC work closely with the International Conifer Conservation Programme (ICCP), led by the Royal Botanic Garden Edinburgh (RBGE), and Bedgebury National Pinetum is a very significant contributor. Through these partnership projects, the Westonbirt Tree Conservation Manager will be establishing and developing international contacts with institutions and people contributing to the project, strengthening Westonbirt’s role as a National Arboretum collaborating on a global platform_ . _In addition to this global work, the Tree Conservation Manager will also establish and develop a Sorbus conservation consortia led by Westonbirt in partnership with National Botanic Gardens Wales. Propagation of endangered trees at the Arboretum (some for sharing with other institutions) and the planting of new specimens of endangered species in the Arboretum”._ Mark Ballard FE Arboretum Curato https://www.fowa.org.uk/blog/expanding-westonbirts-role-in-global-tree-conservation **July 2022 Trainee-Student Arborist 2023-2025 (sum awarded £65,000)** FoWA have again funded a 3-year programme offering a trainee student arborist a Forestry England fixed term contract (51 weeks), to work with the Westonbirt Arboretum Tree Team. The grant allows for funding of 2 further placements in Year 2: 2024-25 and Year 3: 2025-26. The Trainee/Student Arborist placement is an opportunity for young people studying arboriculture, forestry, horticulture or a related subject to gain practical industry experience within a world-class tree collection. This initiative has been praised by several educational institutions as being a key factor in student personal development and ultimate success. The Trainee/Student Arborist not only assists the Forestry England, Westonbirt Tree Team each year with the essential conservation, maintenance and development of the living tree collection and historic landscape, but it enables new entrants into the field of arboriculture to learn key skills and adopt the highest industry standards, at a time when trees and woodlands have never been more important. FoWA is proud to be supporting the development of the workforce trained in the specialist skills required for looking after the nationally important tree collection, here at Westonbirt. **Nov 2022 Coppice Apprentice (sum awarded £5,292)** FoWA agreed to help meet some of the costs of a Coppice Apprentice in 2022, over a 2-year period. This grant is to provide tools and training costs/top-up to the salary of a Coppice Apprentice, over a two-year period, who has been recruited through the Small Woodlands Association Apprentice Scheme. From January 2023, she has worked on the Westonbirt Coppice Restoration Project. The Coppice Restoration Program is virtually unique in the UK and provides an important opportunity to educate the public on the benefits of woodland management. The coppice workers frequently interact informally with members of the public and more formally with visiting Groups. 13 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** _“ The funding that FOWA have provided to me to support my coppicing apprenticeship with Brian Williamson, as part of Westonbirt’s 45 Acres of hazel coppice restoration project, has been invaluable to my progress as an apprentice. The tools and education courses I have been able to purchase have been critical in both progressing learning in woodland management to continue restoring the hazel coppice, alongside creating an economically viable livelihood creating marketable coppice products. A lengthy tuition, and practice in these skills, as an apprentice, is critical to gain the knowledge and efficiency in working, that will make continuing to be a member of the team delivering Westonbirt’s coppice restoration project viable into the future.”_ Naomia Cantor Apprentice. **June 2022 University of the West of England PhD Student (sum awarded £25,000)** FoWA awarded a grant of up to £25,000 across four years to part-fund a PhD research project. This is a collaboration with the University of West England (UWE) with 25% funding from FoWA, the residual 75% funded by UWE. The research builds on work carried out at the arboretum in 2020-21 by a UWE MSc student and will provide an in-depth survey of the current and potential future threats to _Tilia_ in the UK. The research aims to improve our understanding of the health of an important parkland tree species, and the partnership strengthens the link between academic institutions and Westonbirt, the National Arboretum. The grant is ongoing up to 4 years. https://www.fowa.org.uk/blog/protecting-tilia-trees-how-members-are-helping-to-research-treediseases **Nov 2022 Mobility Scooters (sum awarded £6,200) and Off-Road Mobility Scooter (sum awarded £4,995)** The Charity is keen to ensure that the site is accessible to as many people as possible. A fleet of 10 mobility scooters are available for Arboretum visitors to hire free of charge, but many of them were more than 10 years old and were becoming increasingly unreliable and maintenance costs untenable. FoWA has, therefore, supported the replacement of the two scooters, and funded the purchase of an off-road mobility scooter for use by Forestry England’s volunteers and community groups to enable better access to all areas of the arboretum beyond the capability of the visitor fleet of mobility scooters. The grant was complete in Jan 2023. ## New grants awarded in 2023 In 2023, FoWA paid out a total of £226,118 in relation to new grants awarded in the year. The details relating to these grants are provided below: **Jan 2023 Westonbirt Play Project (sum awarded £187,500)** FoWA awarded a multi-year grant to fund the development of the provision of Play at Westonbirt Arboretum. Including a small contribution toward trust and grant fundraiser time to secure further funding for the project. During 2023, we have paid out £9,600 of this grant which financed towards consultancy costs. We continue to fundraise externally towards this longer-term project to develop play at Westonbirt Arboretum. **Jan 2023 Visitor Shuttle Bus Over (sum awarded £26,000)** FoWA awarded a grant to enable Forestry England to purchase a new visitor shuttle bus - enabling a more reliable service, taking visitors deeper into the arboretum and to be weather proofed. The shuttle bus is designed not only for use by those with access needs but has space for groups to travel together, it is safer to drive so enabling more volunteers to provide a reliable bus service on site. This bus was due to be purchased and in place by Autumn 2023, subject to procurement, unfortunately there have been delays so it is now expected to be in place by Easter 2024. 14 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** **June 2023 Pricing Strategy (£6,250)** FoWA funded an external consultancy to provide industry analysis and benchmarking to inform a Forestry England pricing strategy, to cover membership and day admission to help inform FoWA and Forestry England management decisions. The consultancy advice has helped underpin both FoWA’s and Forestry England’s commercial strategy and aid our partnership by achieving a clearer understanding of how admission and membership prices should relate to each other, what we can do to optimise income, number of entries, supporter journey and engagement with onsite case for support, and Forestry England’s other objectives such as reducing arrivals by car. **Oct 2023 Roadside and What’s On today Signage (£6,730)** FoWA awarded this grant to Forestry England to provide an externally facing roadside sign-frame to promote arboretum activities and membership to passers-by on A433, replacing a sign that was removed approx. 3 years ago due to structural decay. In addition to this, a ‘What’s on Today’ ladder board to be placed outside the Welcome Building and visible to visitors immediately on entering the Arboretum. This facility has not been provided before and there is significant demand for it as identified through the Access Audit completed on site by Inclusion Gloucestershire, aiming to make the site more accessible and user friendly especially to those with access needs. **Oct 2023 Scooter & Wheelchair (£5,230)** FoWA awarded this grant to Forestry England to replenish the Mobility Scooter and Wheelchairs for hire at the Welcome Building to improve access, as the arboretum becomes more well known for its accessible paths, demand for these resources is often outstripping supply so we aim to continue to fundraise further to meet this need. **Oct 2023 Welcome Building Member Card Scanning App (£5,450)** FoWA awarded this grant to Forestry England to improve member data collection through scanning of membership cards at entry and providing the data for analysis by our membership team. **FoWA Community Grant Giving Fund (£25,000)** The FoWA Community Grant Giving Fund is designed to enable individuals, and particularly those who would otherwise struggle to access the site, to be able to afford the costs of entry, travel and refreshments, as well as engagement in Forestry England activities. **Aug 2023 Wild Wonder Access tickets £380** FoWA awarded this grant to community groups and organisations free entry tickets, transport costs and a book voucher providing a free book for each child attending the children’s literature festival. https://www.fowa.org.uk/blog/wild-wonder-atwestonbirt-a-book-festival-for-all ## Retail We appointed a new Buying and Retail Manager in October who has continued to develop the variety of products available, purchasing from artisan makers and, where possible, from local suppliers as well as increasing the amount of Westonbirt-own produce and merchandise. Overall, FoWA has sought to follow an ethical approach in its buying strategy, sourcing British produce and merchandise locally whenever possible. 15 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** The previous year was a challenging time for retail however, during 2023 a range of actions were implemented to address improvement of the shop turnover, development of products available and marketing. We also had significant support from Forestry England who in 2023 temporarily reduced the rent charge while we addressed improvements. As a result of this combination of efforts we have seen an improvement in shop performance in late 2023 and we are positive that with the improved systems and more favourable lease terms, we will see a further improvement in performance in 2024. With FoWA running the retail, we are able to provide Forestry England with an onsite shop that reflects the Arboretum well and provides the Charity with profits to then award as grants to Forestry England and others in support of the Arboretum. ## Priorities for 2024 - looking ahead During 2024, we plan to continue to focus on building our partnership and collaboration with Forestry England staff to deliver the best possible outcomes for the Arboretum. In addition to this we will continue to ensure we are operating as efficiently and effectively as we can as a charity. Joint planning for the future enables FoWA to target its activities on having the best possible outcomes for the site through our grant making activity and efforts through fundraising. We will also continue to focus on providing a positive visitor experience through the development of the retail offer which will not only enables us to redirect profits from retail toward the site’s development but also provides an opportunity to promote the Charity and its impact and engage with Members or encourage new membership sign up. The Board have experienced a period of refresh as three long-standing Trustees retired or stepped down during the year. The focus going forwards into 2024 will be a review of governance policy and procedures and development of the 3-year strategy that will see us into 2025 and beyond. During 2024, we intend to refocus our attention on the key charitable objective of fundraising and membership growth and retention so as to achieve our primary objectives: preserve, develop and provide access to the Arboretum. We will do this by developing a marketing strategy that will include new initiatives to retain Members’ engagement and also to acquire new Members as well as concentrate efforts on providing a high-quality membership service that is supported by efficient IT systems. We will also continue to develop our fundraising efforts and, in turn, undertake grant giving (to the community and Forestry England). Supporting the exciting development projects being delivered by Forestry England, presents an opportunity to grow our profile and fundraising capability, ensuring we can maximise our impact as a Charity on the sustainability and development of the beautiful site that is Westonbirt Arboretum and its globally important tree collection. We are grateful to all those individuals and organisations that have supported our work through financial and in-kind support. These include individual donors, charitable trusts and grant-making organisations and others who offer support through their expertise or services. Westonbirt Forestry England Volunteers supporting The Friends of Westonbirt Arboretum (FoWA) The volunteers at Westonbirt are managed by Forestry England and they have a team of over 280 dedicated volunteers who provide essential contributions to the site. FoWA are extremely grateful to be able to work with Forestry England and their volunteers to promote the Charity, membership and fundraising on site. FoWA works in close partnership with the Welcome Building volunteers and Tree Guides in particular, who support the Charity by promoting membership and further giving opportunities to day visitors and Members alike and provide sign-up support for those taking up membership. 16 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** The FoWA Membership Team continue to work closely with Forestry England’s Visitor Services team to keep the volunteers up to date by providing regular training and eNews. This ensures they have the information needed to support FoWA’s work. The Charity is grateful for everything volunteers do in support of FoWA’s activities and membership sales, and for the exceptional management and training provided to volunteers by the onsite Forestry England team. ## Our Patron and Ambassador The Friends of Westonbirt Arboretum are privileged to continue to enjoy the support of our Royal Patron HM The Queen and our Ambassador the Honourable Beth Rothschild. We are most grateful for your ongoing commitment. ## **Prior year adjustment** It was necessary to process prior year adjustments in respect of two different matters arising from the treatment of agreed grant commitments and from the calculation of VAT on membership income. **Grant commitments:** previously expenditure relating to agreed grants was ring-fenced through the use of designated funds and grant expenditure was only recognised as a cost at the point that the grant was paid out. Following a change of auditor, the Charity has been advised that in compliance with approved accounting standards, grants should be recognised as a cost at the time of commitment, rather than at the time of payment. As such the classification of grant commitments has altered from forming part of the designated funds, appearing below the line, to creditors, forming part of the Charity’s liabilities above the line. Further details relating to the prior year adjustments resulting from this change in the treatment of grant commitments can be found in note 2 of these accounts. **VAT on membership income:** membership income is a mixed supply for the purposes of value added tax. As such, the VAT rate applied to membership income is a calculated rate, not a standard rate. Following advice from HMRC, it was necessary for the Charity to amend the basis on which it calculated the VAT rate to be applied to membership income. It was necessary to apply this adjustment to a retrospective period going back to the start of 2020, therefore, this adjustment has an impact on previous years and has been processed through these accounts as a prior year adjustment. At the time of completing these accounts, a submission has been made to HMRC in relation to the additional VAT due but no response has yet been received from HMRC so potential interest and penalty charges have been included as estimated figures. Further details relating to the prior year adjustments resulting from this adjustment can be found in note 2 of these accounts. ## **Investments** ## Investment policy The Charity’s investment policy is reviewed from time to time and amended when necessary. The investment policy in place during 2022 was conservative, limiting investments to deposits with high quality counterparties and investments in CCLA’s money market fund. The Trustees reviewed the policy during the year and, in light of the current economic ad political climate, have considered that continuing to adopt this investment policy remains appropriate. 17 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** ## **Financial review** ## Going concern After making appropriate enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and do not anticipate that there are any circumstances that are likely to arise leading to a significant reduction in the Charity’s ongoing income streams or ability to continue to operate. The Charity is in a strong financial position with healthy reserves. The Trustees have approved the 2024 budget and the performance of the Charity, to date, which is in line with the financial plan. ## Results After accounting for grant expenditure totalling £226,118 (2022: £498,612), the Charity made a consolidated unrestricted loss of £67,818 (2022: loss of £409,580). This loss was deducted from the brought forward reserves of £698,003 (2022: £1,107,583) to give carried forward unrestricted funds of £630,185 (2022: 698,003) at the year end. After accounting for grant expenditure totalling £10,000 (2022: 18,985), the Charity made a consolidated restricted fund surplus of £146,637 (2022: loss of £1,785). This movement in funds was added to the brought forward reserves of £10,000 (2022: £11,785) to give carried forward restricted funds of £156,637 (2022: £10,000) at the year end. Across all funds the Charity made a consolidated surplus of £78,819 (2022: loss of £411,365) which was added to the brought forward reserves of £708,003 (2022: 1,119,368) to give carry forward reserves of £786,822 (2022: £708,003). ## Reserves policy The Charity held reserves of £786,822 (2022: £708,003) at the year end. Of these funds, £234,592 (2022: £326,352) were designated funds, £156,637 (2022: £10,000) were restricted and £395,593 (2022: £371,651) were held as general reserves. The Charity’s reserves policy is that the general reserves held by the Charity should be a minimum of 3 months running costs, including salary costs. After stripping out exceptional costs, grant expenditure, depreciation, donated facility costs and costs of goods sold relating to the Shop, the Charity’s annual expenditure was £1.5m equates to £375k. As such, the Trustees feel that the funds held as general reserves are at the correct level. Free reserves of the funds that are not otherwise restricted or designated and which are not invested in tangible fixed assets, as such, the Charity’s free reserves equate to the balance of the general funds less fixed assets so at the year end, the Charity held free reserves of £341,582 (2022: £313,509). The Trustees have review the funds held by the Charity at the year end and are content that the Charity is holding an appropriate level of reserves, in accordance with the reserves policy. ## **Statement of responsibilities of the trustees** The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 18 ## **Friends of Westonbirt Arboretum** ## **Report of the trustees** ## **For the year ended 31 December 2023** The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the group and the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Auditors** Godfrey Wilson Limited were appointed as auditors to the group and parent charity during the year and have expressed their willingness to continue in that capacity. Approved by the trustees on 1 May 2024 and signed on their behalf by Neil Sachdev - Chair of Trustees 19 ## **Independent auditors' report** ## **To the members of** ## **Friends of Westonbirt Arboretum** ## **Opinion** We have audited the financial statements of Friends of Westonbirt Arboretum (the 'parent charity') and its subsidiary (the 'group') for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, consolidated and parent charity balance sheets, consolidated statement of cash flows and the related 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and the Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). ## In our opinion, the financial statements: - give a true and fair view of the state of the group and parent charity's affairs as at 31 December 2023 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** 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 charity'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 group and parent charity financial statements and our auditor’s report thereon. Our opinion on the group and parent charity 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. 20 ## **Independent auditors' report** ## **To the members of** ## **Friends of Westonbirt Arboretum** In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinion on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the group and the parent charity and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us; - the parent charity financial statements are not in agreement with the accounting records and returns; - certain disclosures of trustees’ remuneration specified by law are not made; - we have not obtained all the information and explanations necessary for the purposes of our audit; or - ▪the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report. ## **Responsibilities of the trustees** As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 21 ## **Independent auditors' report** ## **To the members of** ## **Friends of Westonbirt Arboretum** ## **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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from 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 procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below: (1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance. (2) We reviewed the charity’s policies and procedures in relation to: - identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance; - detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and - designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud. (3) We inspected the minutes of trustee meetings. (4) We enquired about any non-routine communication with regulators and reviewed any reports made to them. (5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations. (6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error. (7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included: - ▪testing the appropriateness of journal entries; - ▪assessing judgements and accounting estimates for potential bias; - ▪reviewing related party transactions; and ▪testing transactions that are unusual or outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 22 ## **Independent auditors' report** ## **To the members of** ## **Friends of Westonbirt Arboretum** A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charityʼs 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 charityʼs members those matters we are required to state to them in an auditorʼs 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 charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed. Date: 1 May 2024 ## **Rob Wilson FCA (Senior Statutory Auditor)** For and on behalf of: ## **GODFREY WILSON LIMITED** Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD 23 ## **Friends of Westonbirt Arboretum** **Consolidated statement of financial activities** _(incorporating an income and expenditure account)_ ## **For the year ended 31 December 2023** |Restricted Unrestricted
Note
£
£
**Income from:**
Donations and legacies
4
156,637
85,876
Charitable activities
5
-
1,436,608
Other trading activities
6
-
491,399
Investments
-
34,195
Other
-
181
**Total income**
156,637
2,048,259
**Expenditure on:**
Raising funds
-
552,261
Charitable activities
10,000
1,563,816
**Total expenditure**
8
10,000
2,116,077
**Net income / (expenditure)**
146,637
(67,818)
Transfers between funds
-
-
**Net movement in funds**
11
146,637
(67,818)
**Reconciliation of funds:**
Total funds brought forward
10,000
698,003
**Total funds carried forward**
156,637
630,185|**2023**
**Total**
**£**
**242,513**
**1,436,608**
**491,399**
**34,195**
**181**
**2,204,896**
**552,261**
**1,573,816**
**2,126,077**
**78,819**
**-**
**78,819**
**708,003**
**786,822**|Restated
2022
Total
£
66,864
1,423,746
448,137
5,595
39,102| |---|---|---| |||1,983,444| |||558,983
1,835,826| |||2,394,809| |||(411,365)
-| |||(411,365)
1,119,368| |||708,003| All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 24 to the accounts. The 2022 comparatives have been restated for changes in accounting policies and other prior period adjustments, as set out in note 2 to the accounts. 24 ## **Friends of Westonbirt Arboretum** ## **Consolidated balance sheets** ## **As at 31 December 2023** |**As at 31 December 2023**||||| |---|---|---|---|---| |Note
**Fixed assets**
Intangible assets
14
Tangible assets
15
Investments
**Current assets**
Stocks
18
Debtors
19
Cash at bank and in hand
**Liabilities**
20
**Net current assets**
**Total assets less current liabilities**
21
**Net assets**
23
**Funds**
24
Restricted funds
Unrestricted funds
Designated funds
General funds
**Total charity funds**
Creditors: amounts falling due within 1
year
Creditors: amounts falling due after more
than 1 year|**The group**
**2023**
**£**
**6,258**
**47,753**
**-**|Restated
The group
2022
£
9,979
48,163
-|**The charity**
**2023**
**£**
**4,185**
**35,374**
**1,000**|Restated
The charity
2022
£
5,993
32,947
1,000| ||**54,011**|58,142|**40,559**|39,940| ||**54,828**
**108,047**
**1,930,524**|55,800
119,480
1,857,932|**8,820**
**270,771**
**1,780,753**|-
282,655
1,762,381| ||**2,093,399**
**(1,199,117)**|2,033,212
(1,089,249)|**2,060,344**
**(1,148,203)**|2,045,036
(1,054,522)| ||**894,282**|943,963|**912,141**|990,514| ||**948,293**
**(161,471)**|1,002,105
(294,102)|**952,700**
**(161,471)**|1,030,454
(294,102)| ||**786,822**|708,003|**791,229**|736,352| ||**156,637**
**234,592**
**395,593**|10,000
326,352
371,651|**156,637**
**234,592**
**400,000**|10,000
326,352
400,000| ||**786,822**|708,003|**791,229**|736,352| These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. Approved by the trustees on 1 May 2024 and signed on their behalf by Neil Sachdev - Chair of Trustees 25 ## **Friends of Westonbirt Arboretum** ## **Consolidated statement of cash flows** ## **For the year ended 31 December 2023** |**Cash supplied by (used in) operating activities:**
Net movement in funds
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interest and rents from investments
Loss on the sale of fixed assets
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Cash flows from investing activities:**
Dividends, interest and rents from investments
Purchase of tangible fixed assets
**Net cash provided by / (used in) investing activities**
**Increase / (decrease) in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2023**
**£**
**78,819**
**18,632**
**3,721**
**(34,195)**
**-**
**972**
**11,433**
**(22,763)**
**56,619**
**34,195**
**(18,222)**
**15,973**
**72,592**
**1,857,932**
**1,930,524**|Restated
2022
£
(411,365)
24,775
3,722
(5,595)
62
(4,197)
(20,336)
392,659| |---|---|---| |||(20,275)| |||5,595
(27,050)| |||(21,455)| |||(41,730)
1,899,662| |||1,857,932| The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements. 26 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** **1. Accounting policies** ## **a) Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Friends of Westonbirt Arboretum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. ## **b) Group accounts** These financial statements consolidate the results of the charitable company and its whollyowned (controlled) subsidiary on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. ## **c) Going concern basis of accounting** The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern. ## **d) Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 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 been met, then the legacy is treated as a contingent asset and disclosed if material. Income received in advance of provision of membership subscriptions is deferred until criteria for income recognition are met. 27 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** **1. Accounting policies (continued)** ## **e) Interest receivable** - 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. ## **f) Funds accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particularly areas of the charity's work or for specific projects being undertaken by the charity. ## **g) Expenditure and irrecoverable VAT** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **h) Allocation of support costs** Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the number of people employed within fundraising as follows: |||Restated| |---|---|---| ||**2023**|2022| |Raising funds|**4.3%**|4.0%| |Charitable activities|**95.7%**|96.0%| ## **i) Grants payable** Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate). ## **j) Tangible fixed assets** Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: |Leasehold improvements|5% straight line| |---|---| |Fixtures and fittings|20% straight line| |IT assets|10% - 33% straight line| Items of equipment are capitalised where the purchase price exceeds £500. 28 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **1. Accounting policies (continued)** ## **k) Intangible fixed assets** Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an assets may not be fully recoverable. Amortisation is provided at the following rates: Computer software Goodwill 20% straight line 20% straight line ## **l) Investment in subsidiaries** The charitable company has one wholly owned subsidiary, Friends of Westonbirt Arboretum Enterprises Limited, (registered company number 12410907). The subsidiary is used for nonprimary purpose trading activities. The subsidiary undertaking is valued at cost less any cumulative impairment losses in the charitable company's accounts. ## **m) Stock** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **n) 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. ## **o) 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. ## **p) Creditors** Creditors and provisions are recognised where there is 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. ## **q) Financial instruments** The charitable company 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 with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method. ## **r) Pension costs** The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA. 29 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **1. Accounting policies (continued)** ## **s) Accounting estimates and key judgements** - In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. ## **s) Accounting estimates and key judgements (continued)** The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note [j] above and amortisation as described in note [k] above. ## **2. Prior period restatement** _Grant commitments_ Prior period expenditure, creditors and funds have been restated to recognise grant commitments in full when they are communicated to grantees. Previously, grant commitments were ringfenced as designated funds when committed, and expenses recognised in the SoFA on a claims basis against the designated fund. ## _VAT_ Prior period expenditure, creditors and funds have been restated to include a VAT underpayment, which is shown as an exceptional item in expenditure note 7. ## **Funds brought forward** This has affected funds brought forward, as follows: |Funds as originally stated at 1 January 2022
Adjustment to grants payable
Adjustment to VAT payable
Adjustment to general reserves top up
Funds as restated at 1 January 2022|£
11,785
-
-
-
11,785
Restricted
funds|£
945,013
(159,209)
-
(78,221)
707,583
Designated
funds|£
365,000
-
(43,221)
78,221
400,000
General
funds|£
1,321,798
(159,209)
(43,221)
-
Total
funds| |---|---|---|---|---| |||||1,119,368| 30 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** |**2.**
**Prior period restatement (continued)**
£
10,000
Adjustment to grants payable
-
Adjustment to VAT payable
-
Adjustment to general reserves top up
-
Funds as restated at 31 December 2022
10,000
**Creditors: amounts due within 1 year**
Creditor balances have been affected as follows:
£
41,533
Adjustment for grants payable
-
Adjustment for VAT liability
73,624
Reclassification of grants payable
-
Balances restated at 31 December 2022
115,157
Restricted
funds
Funds as originally stated at 31
December 2022
Creditor balances as originally stated at
31 December 2022
Other taxation
and social
security|£
921,901
(521,925)
-
(73,624)
326,352
£
-
230,461
-
48,536
278,997
Designated
funds
Grants
payable|£
371,651
-
(73,624)
73,624
371,651
£
676,599
-
-
(20,730)
655,869
General
funds
Accruals
and
deferred
income|£
1,303,552
(521,925)
(73,624)
-
Total
funds| |---|---|---|---| ||||708,003| ||||£
65,862
-
-
(27,806)
Trade
creditors| ||||38,056| ## **Creditors : amounts due after more than 1 year** Long term creditor balances have been affected as follows: |**Creditors : amounts due after more than 1 year**
Long term creditor balances have been affected as follows:|| |---|---| |Grants payable after 1 year as originally stated at 31 December 2022
Adjustment for grants payable
Grants payable after 1 year as restated at 31 December 2022|£
-
291,464
Grants
payable| ||291,464| 31 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **2. Prior period restatement (continued) Expenditure** Expenditure balances shown in the SoFA been affected as follows: |Expenditure as originally stated at 31 December 2022
Adjustment for grants payable charged to SoFA in year
Adjustment for VAT charged to SoFA in year
Reanalysis for costs of raising funds
Expenditure as restated at 31 December 2022|£
539,432
-
-
19,551
558,983
Raising
funds|£
£
1,462,258
2,001,690
362,716
362,716
30,403
30,403
(19,551)
-
1,835,826
2,394,809
Total
expenditure
Charitable
activities|£
£
1,462,258
2,001,690
362,716
362,716
30,403
30,403
(19,551)
-
1,835,826
2,394,809
Total
expenditure
Charitable
activities| |---|---|---|---| ||||2,394,809| ## **3. Prior period comparatives: statement of financial activities (restated)** |**Income from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net expenditure and net movement in funds**|Restricted
£
£
17,200
49,664
-
1,423,746
-
448,137
-
5,595
-
39,102
17,200
1,966,244
-
558,983
18,985
1,816,841
18,985
2,375,824
(1,785)
(409,580)
Unrestricted|2022
Total
£
66,864
1,423,746
448,137
5,595
39,102| |---|---|---| |||1,983,444| |||558,983
1,835,826| |||2,394,809| |||(411,365)| 32 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **4. Income from donations and legacies** |Grants:
The John Horseman Trust
Garfield Weston
The Swire Charitable Trust
Barnwood Trust
Herman Miller
The D'Oyly Carte Charitable Trust
Donations
Legacies
Donated facilities
**Total income from donations and legacies**
**Prior period comparative:**
Grants:
The Julia and Hans Rausing Trust
Cotswold National Landscape
Donations
Legacies
Donated facilities
**Total income from donations and legacies**
**5.**
**Income from charitable activities**
Membership subscriptions|Restricted
£
£
60,000
-
50,000
-
30,000
-
-
18,179
13,637
-
3,000
-
-
37,407
-
19,040
-
11,250
156,637
85,876
Restricted
£
£
10,000
-
7,200
-
-
19,414
-
19,000
-
11,250
17,200
49,664
**2023**
**£**
**1,436,608**
Unrestricted
Unrestricted|**2023**
**Total**
**£**
**60,000**
**50,000**
**30,000**
**18,179**
**13,637**
**3,000**
**37,407**
**19,040**
**11,250**| |---|---|---| |||**242,513**| |||2022
Total
£
10,000
7,200
19,414
19,000
11,250| |||66,864| |||2022
£
1,423,746| All income from charitable activities in the current and prior year was unrestricted. 33 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **6. Income from other trading activities** |**Income from other trading activities**||| |---|---|---| |Friends of Westonbirt Arboretum Enterprises
Letting fees and commission relating to the Great Oak Hall
**Total income from other trading activities**|**2023**
**£**
**484,223**
**7,176**
**491,399**|2022
£
440,461
7,676| |||448,137| All income from other trading activities in the current and prior year was unrestricted. ## **7. Government grants** The charitable company receives government grants, defined as funding from Cotswold County Council, to fund charitable activities. The total value of such grants in the year ending 31 December 2023 was £nil (2023: £4,000). There are no unfulfilled conditions or contingencies attaching to this grant. 34 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **8. Total expenditure** |**Total expenditure**||||| |---|---|---|---|---| |Staff costs (note 12)
Staff recruitment and development
Other staff expenditure
Purchases for events
The Great Oak Hall expenses
Donated facilities - office space
Arboretum access rights
Grant expenditure (note 9)
Membership activities
Westonbirt magazine costs
Depreciation and amortisation
Governance
Telephone
Rates
Utilities
Insurance
Printing, postage and stationery
General maintenance
Information technology
Miscellaneous expenses
Bank charges
Professional and accounting services
Exceptional item
**Sub-total**
Allocation of support and governance costs
**Total expenditure**
FoWAE trading costs, excluding wages and
depreciation/amortisation|Raising funds
£
194,374
-
-
315,842
15,390
70
5,625
-
-
-
-
6,413
-
-
-
-
-
-
-
-
-
-
-
-
537,714
14,547
**552,261**|Charitable
activities
£
176,805
-
-
-
-
-
5,625
718,718
226,118
58,490
65,603
-
-
-
-
-
-
-
-
-
-
-
-
-
1,251,359
322,457
**1,573,816**|Support and
governance
costs
£
125,117
4,480
4,698
-
-
-
-
-
-
-
-
15,940
29,335
2,395
1,085
7,000
9,742
1,184
2,727
72,266
2,281
3,229
10,380
45,145
337,004
(337,004)
**-**|**2023 Total**
**£**
**496,296**
**4,480**
**4,698**
**315,842**
**15,390**
**70**
**11,250**
**718,718**
**226,118**
**58,490**
**65,603**
**22,353**
**29,335**
**2,395**
**1,085**
**7,000**
**9,742**
**1,184**
**2,727**
**72,266**
**2,281**
**3,229**
**10,380**
**45,145**| |||||**2,126,077**
-| |||||**2,126,077**| 35 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **8. Total expenditure Prior period comparative (restated)** |Staff costs (note 12)
Staff recruitment and development
Other staff expenditure
Purchases for events
The Great Oak Hall expenses
Donated facilities - office space
Arboretum access rights
Grant expenditure
Membership activities
Westonbirt magazine costs
Depreciation and amortisation
Governance
Telephone
Rates
Utilities
Insurance
Printing, postage and stationery
General maintenance
Information technology
Marketing
Miscellaneous expenses
Bank charges
Professional and accounting services
Exceptional item
(Profit) / loss on disposal of fixed assets
**Sub-total**
Allocation of support and governance costs
**Total expenditure**
FoWAE trading costs, excluding wages and
depreciation/amortisation|Raising funds
£
182,882
-
-
334,581
10,071
669
5,625
-
-
-
-
5,604
-
-
-
-
-
-
-
-
-
-
-
-
-
-
539,432
19,551
558,983|Charitable
activities
£
20,878
-
-
-
-
-
5,625
728,439
498,612
66,238
46,817
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,366,609
469,217
1,835,826|Support and
governance
costs
£
307,745
21,122
3,341
-
-
-
-
-
-
-
-
22,893
10,775
689
941
5,918
9,641
1,140
2,091
58,714
859
3,344
1,359
7,855
30,403
(62)
488,768
(488,768)
**-**|2022 Total
£
511,505
21,122
3,341
334,581
10,071
669
11,250
728,439
498,612
66,238
46,817
28,497
10,775
689
941
5,918
9,641
1,140
2,091
58,714
859
3,344
1,359
7,855
30,403
(62)| |---|---|---|---|---| |||||2,394,809
-| |||||2,394,809| 36 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **9. Grants payable** During the year, 7 (2022: 11) new grants were awarded to Forestry England to further the development of the Arboretum. Total grants committed to during the year were as follows: |Grants payable to Forestry England were for the following projects:
Play Project
Replacement Shuttle Bus
Interpretation Project
Westonbirt Community Co-ordinator
Westonbirt Tree Conservation Management
Trainee (Student) Arborist Placement
PhD Student UWE
Silk Wood Regeneration Project Manager and Bid Work
Other projects < £10,000
Total grants payable to Forestry England|**2023**
2022
**£**
£
**187,500**
-
**26,000**
-
**-**
10,000
**-**
73,000
**-**
180,000
**-**
65,000
**-**
25,000
**-**
82,500
**12,618**
63,112
**226,118**
498,612
**The group**|**2023**
2022
**£**
£
**187,500**
-
**26,000**
-
**-**
10,000
**-**
73,000
**-**
180,000
**-**
65,000
**-**
25,000
**-**
82,500
**12,618**
63,112
**226,118**
498,612
**The group**| |---|---|---| |||498,612| ## **10. Grants commitments** |Grant commitments brought forward
Grants committed during the period
Grants paid during the period
Grant commitments carried forward|**2023**
2022
**£**
£
**570,461**
211,887
**226,118**
498,612
**(297,650)**
(140,038)
**498,929**
570,461
**The group**|**2023**
2022
**£**
£
**570,461**
211,887
**226,118**
498,612
**(297,650)**
(140,038)
**498,929**
570,461
**The group**| |---|---|---| |||570,461| ## **11. Net movement in funds** |**Net movement in funds**||| |---|---|---| |This is stated after charging:|**The group**|| ||**2023**|2022| ||**£**|£| |Depreciation and amortisation|**22,353**|28,497| |Trustees' remuneration|**Nil**|Nil| |Trustees' reimbursed expenses|**252**|128| |Auditors' remuneration (excluding VAT):||| |Statutory audit|**8,900**|10,667| |Other services|**350**|500| Two trustees were reimbursed £252 for travel and subsistence relating to attending board meetings (2022: one trustee was reimbursed £128 for travel). 37 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **12. Staff costs and numbers** Staff costs were as follows: |Salaries and wages
Social security costs
Pension costs|**2023**
2022
**£**
£
**429,411**
443,664
**25,436**
28,802
**41,449**
39,039
**496,296**
511,505
**The group**|**2023**
2022
**£**
£
**334,822**
348,832
**21,216**
23,877
**34,788**
31,109
**390,826**
403,818
**The charity**| |---|---|---| No employee earned more than £60,000 during the current or prior year. The key management personnel of the charitable company comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £71,116 (2022: £55,471). |Average number of employees|**2023**
2022
**#**
#
**23**
25
**The group**|**2023**
2022
**#**
#
**14**
14
**The charity**| |---|---|---| ## **13. Taxation** The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The subsidiary company distributes any profits to the charity and therefore no corporation tax is payable. 38 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **14. Intangible fixed assets Group** |**Intangible fixed assets**
**Group**|||| |---|---|---|---| |**Cost**
At 1 January 2023 and 31 December 2023
**Amortisation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
**At 31 December 2023**
At 31 December 2022
**Charity**
**Cost**
At 1 January 2023 and 31 December 2023
**Amortisation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
**At 31 December 2023**
At 31 December 2022|£
9,042
3,049
1,808
4,857
**4,185**
5,993
Computer
software|£
9,567
5,581
1,913
7,494
**2,073**
3,986
Goodwill|**Total**
**£**
**18,609**| ||||**8,630**
**3,721**| ||||**12,351**| ||||**6,258**| ||||9,979| ||||**£**
**9,042**
**Computer**
**software**| ||||**3,049**
**1,808**| ||||**4,857**| ||||**4,185**| ||||5,993| 39 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **15. Tangible fixed assets Group** |**Tangible fixed assets**
**Group**|||| |---|---|---|---| |£
**Cost**
At 1 January 2023
33,518
Additions in year
-
At 31 December 2023
33,518
**Depreciation**
At 1 January 2023
23,231
Charge for the year
1,676
At 31 December 2023
24,907
**Net book value**
**At 31 December 2023**
**8,611**
At 31 December 2022
10,287
**Charity**
£
**Cost**
At 1 January 2023
33,518
Additions in year
-
At 31 December 2023
33,518
**Depreciation**
At 1 January 2023
23,231
Charge for the year
1,676
At 31 December 2023
24,907
**Net book value**
**At 31 December 2023**
**8,611**
At 31 December 2022
10,287
Leasehold
improvements
Leasehold
improvements|£
46,673
10,762
57,435
33,011
6,366
39,377
**18,058**
13,662
£
10,598
9,961
20,559
10,462
2,903
13,365
**7,194**
136
Fixtures
and fittings
Fixtures
and fittings|£
87,802
7,460
95,262
63,588
10,590
74,178
**21,084**
24,214
£
84,162
6,598
90,760
61,638
9,553
71,191
**19,569**
22,524
Computer
equipment
Computer
equipment|**Total**
**£**
**167,993**
**18,222**| ||||**186,215**| ||||**119,830**
**18,632**| ||||**138,462**| ||||**47,753**| ||||48,163| ||||**Total**
**£**
**128,278**
**16,559**| ||||**144,837**| ||||**95,331**
**14,132**| ||||**109,463**| ||||**35,374**| ||||32,947| 40 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **16. Subsidiary undertakings** _Friends of Westonbirt Arboretum Enterprises Limited_ The purpose of the wholly owned subsidiary (Company No. 12410907) is to manage the shop at Westonbirt Arboretum. |**2023**
**£**
Turnover
**484,222**
Cost of sales
**(267,308)**
Gross profit
**216,914**
Other operating income
**-**
Administrative expenses
**(182,736)**
Operating profit
**34,178**
Interest payable
**(10,236)**
Profit on ordinary activities
**23,942**
Corporation tax
**-**
Gift aid to parent undertaking
**-**
Profit for financial year
**23,942**
The aggregate of the assets, liabilities and funds was:
**2023**
**£**
Assets
**216,912**
Liabilities
**(220,319)**
Funds
**(3,407)**
**Parent charity**
The parent charity's gross income and the results for the year are disclosed as follows:
**2023**
**£**
Gross income
**1,753,229**
Results for the year
**(5,204)**|2022
£
440,461
(250,234)| |---|---| ||190,227
4,000
(218,890)| ||(24,663)
(3,686)| ||(28,349)
-
-| ||(28,349)| ||2022
£
175,292
(202,641)| ||(27,349)| ||2022
£
1,563,921
(241,015)| ## **17. Parent charity** 41 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** |**18.**
**Stock**
**2023**
2022
**£**
£
Finished goods and goods for resale
**54,828**
55,800
**19.**
**Debtors**
**2023**
2022
**£**
£
Trade debtors
**5,863**
5,260
Prepayments
**39,327**
40,520
Accrued income
**62,857**
73,700
Amounts owed by group undertakings
**-**
-
**108,047**
119,480
**20.**
**Creditors : amounts due within 1 year**
Restated
**2023**
2022
**£**
£
Trade creditors
**17,020**
38,056
Grants payable (note 9)
**337,458**
278,997
Accruals
**37,437**
33,081
Other taxation and social security
**174,742**
115,157
Deferred income (note 22)
**631,985**
622,788
Other creditors
**475**
1,170
**1,199,117**
1,089,249
**21.**
**Creditors : amounts due in more than 1 year**
Restated
**2023**
2022
**£**
£
Grants payable (note 9)
**161,471**
291,464
Deferred income (note 22)
-
2,638
**161,471**
294,102
**The group**
**The group**
**The group**
**The group**|**2023**
2022
**£**
£
**8,820**
-
**2023**
2022
**£**
£
**5,863**
5,260
**37,261**
38,213
**58,243**
71,268
**169,404**
167,914
**270,771**
282,655
Restated
**2023**
2022
**£**
£
**3,503**
26,327
**337,458**
278,997
**26,030**
23,150
**149,227**
103,260
**631,985**
622,788
**-**
-
**1,148,203**
1,054,522
Restated
**2023**
2022
**£**
£
**161,471**
291,464
-
2,638
**161,471**
294,102
**The charity**
**The charity**
**The charity**
**The charity**|**2023**
2022
**£**
£
**8,820**
-
**2023**
2022
**£**
£
**5,863**
5,260
**37,261**
38,213
**58,243**
71,268
**169,404**
167,914
**270,771**
282,655
Restated
**2023**
2022
**£**
£
**3,503**
26,327
**337,458**
278,997
**26,030**
23,150
**149,227**
103,260
**631,985**
622,788
**-**
-
**1,148,203**
1,054,522
Restated
**2023**
2022
**£**
£
**161,471**
291,464
-
2,638
**161,471**
294,102
**The charity**
**The charity**
**The charity**
**The charity**| |---|---|---| |||294,102| 42 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **22. Deferred income** |At 1 January 2023
Deferred during the year
Released during the year
At 31 December 2023|**2023**
2022
**£**
£
**622,788**
642,901
**631,985**
622,788
**(622,788)**
(642,901)
**631,985**
622,788
**The group**|**2023**
2022
**£**
£
**622,788**
642,901
**631,985**
622,788
**(622,788)**
(642,901)
**631,985**
622,788
**The charity**|**2023**
2022
**£**
£
**622,788**
642,901
**631,985**
622,788
**(622,788)**
(642,901)
**631,985**
622,788
**The charity**| |---|---|---|---| ||||622,788| Deferred income relates to membership subscriptions which were purchased during 2023 but for which the membership period ends in the following financial year. **23. Analysis of net assets between funds** |**Analysis of net assets between funds**||||| |---|---|---|---|---| |Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non-current liabilities
**Net assets at 31 December 2023**
**Prior year comparative (restated)**
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non-current liabilities
**Net assets at 31 December 2022**|£
-
-
206,637
(50,000)
-
**156,637**
£
-
-
10,000
-
-
10,000
Restricted
funds
Restricted
funds|£
-
-
240,842
(6,250)
-
**234,592**
£
-
-
332,552
(6,200)
-
326,352
Designated
funds
Designated
funds|£
47,753
6,258
1,645,920
(1,142,867)
(161,471)
**395,593**
£
48,163
9,979
1,690,660
(1,083,049)
(294,102)
371,651
General
funds
General
funds|**Total**
**Funds**
**£**
**47,753**
**6,258**
**2,093,399**
**(1,199,117)**
**(161,471)**| |||||**786,822**| |||||Total
Funds
£
48,163
9,979
2,033,212
(1,089,249)
(294,102)| |||||708,003| 43 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **24. Movements in funds** |At 1
January
2023
£
**Restricted funds**
Core Costs
10,000
-
**Total restricted funds**
10,000
_Designated funds:_
Arboretum Development Fund
271,352
Small Grants Fund
30,000
Community Grant Giving Fund
25,000
_Total designated funds_
326,352
General funds
400,000
FOWA Enterprises
(28,349)
_Total general funds_
371,651
**Total unrestricted funds**
698,003
**Total funds**
708,003
Silk Wood Community
Woodland Project
**Unrestricted funds**|Income
£
-
156,637
156,637
-
-
-
-
1,564,036
484,223
2,048,259
2,048,259
2,204,896|£
(10,000)
-
(10,000)
-
(12,618)
-
(12,618)
(1,643,178)
(460,281)
(2,103,459)
(2,116,077)
(2,126,077)
Expenditure|£
-
-
-
(91,760)
12,618
-
(79,142)
79,142
-
79,142
-
-
Transfers
between
funds|**£**
**-**
**156,637**
**At 31**
**December**
**2023**| |---|---|---|---|---| |||||**156,637**| |||||**179,592**
**30,000**
**25,000**| |||||**234,592**| |||||**400,000**
**(4,407)**| |||||**395,593**| |||||**630,185**| |||||**786,822**| ## **Purposes of restricted funds** Core Costs Funding from Julia and Hans Rausing Trust to mark the accession of Her Majesty the Queen (formerly HRH The Duchess of Cornwall), towards FoWA's core costs. Silk Wood Community Woodland Project Funding for this project will bring together community groups to replant Silk Wood, and will provide an accessible space for people to enjoy the wellbeing benefits of nature for generations to come. The funders are: Herman Miller Garfield Weston The D'Oyly Carte Charitable Trust The John Horseman Trust The Swire Charitable Trust 44 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **24. Movements in funds (continued) Purpose of designated funds** Arboretum Development Fund This fund seeks to raise funds for operational and revenue needs to promote the sustainability and development of the arboretum. Small Grants Fund This is a discretionary grant fund for applications valued at less than £10,000, awarded by the CEO in conjunction with approval of at least one Trustee. Community Grant Giving Fund This fund has been created to enable grants to be awarded, at the discretion of the CEO, to support accessibility to the Arboretum for community groups that would otherwise struggle to gain access to site, afford entry costs, travel, refreshment and engagement in Forestry England activities. ## **Transfers** A transfer has been made from the Arboretum Development Fund to general funds, to bring the balance up to £400,000. 45 ## **Friends of Westonbirt Arboretum** ## **Notes to the financial statements** ## **For the year ended 31 December 2023** ## **24. Movements in funds (continued) Prior year comparative (restated)** |At 1
January
2022
£
**Restricted funds**
Community Shelter
-
Quarantine House
10,677
Coppice Shelter
1,108
Core Costs
-
**Total restricted funds**
11,785
_Designated funds:_
Arboretum Development Fund
707,583
Small Grants Fund
-
Community Grant Giving Fund
-
_Total designated funds_
707,583
General funds
400,000
FOWA Enterprises
-
_Total general funds_
400,000
**Total unrestricted funds**
1,107,583
**Total funds**
1,119,368
**Unrestricted funds**|Income
£
7,200
-
-
10,000
17,200
-
-
-
-
1,521,783
444,461
1,966,244
1,966,244
1,983,444|£
(7,200)
(10,677)
(1,108)
-
(18,985)
-
(28,877)
-
(28,877)
(1,874,137)
(472,810)
(2,346,947)
(2,375,824)
(2,394,809)
Expenditure|£
-
-
-
-
-
(436,231)
58,877
25,000
(352,354)
Transfers
between
funds|£
-
-
-
10,000
At 31
December
2022| |---|---|---|---|---| |||||10,000| |||||271,352
30,000
25,000| |||||326,352| ||||352,354
-
352,354
-
-|400,000
(28,349)| |||||371,651| |||||698,003| |||||708,003| ## **25. Related party transactions** The group has a close relationship with Forestry England. The Arboretum is managed by Forestry England. Membership of the Friends of Westonbirt Arboretum follows payment of a prescribed fee. Members are entitled to visit the Arboretum during the opening hours without having to pay an entrance fee to Forestry England. Friends of Westonbirt Arboretum purchase access rights for its members from Forestry England. The cost for the current year was £718,718 (2022: £728,439). Friends of Westonbirt Arboretum is the parent charity of Friends of Westonbirt Arboretum Enterprises Limited (company registration no. 12410907). Three of the trustees of the charity serve on the board of the trading company. The charity operates payroll and manages transactions on behalf of the company. During the year, the charity charged £22,320 for management fees (2022: £21,252) and £10,236 for interest on the intercompany loan (2022: £3,686). At year end, £169,404 was owed to the charity (2022: £167,914), which includes a loan of £155,000 (2022: £155,000). 46