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2025-12-31-accounts

Company no. 04965522 Charity no. 293190

Friends of Westonbirt Arboretum Report and Audited Financial Statements 31 December 2025

Friends of Westonbirt Arboretum

Reference and administrative details

For theyear ended 31 December 2025
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:
S Addadahine (resigned 29 January 2026)
M Allman (appointed 14 May 2025) 2
M Ballard (appointed 5 February 2025,
resigned 29 January 2026)
S Bryars, Joint Vice Chair 1
O Forster 1
N Frost (resigned 14 May 2025) 2
K Hare (appointed 14 May 2025)
P Isherwood, Joint Vice Chair 2
E Skuse, Treasurer (appointed 14 May 2025) 1
M Smith, Chair 1,2,3
S Troupe 1
C Walker (resigned 5 February 2025) 1,2,3
R Walker 3
Committees to the board Chairperson
1. Finance and risk panel M Smith (until 19 November 2025)
E Skuse (from 19 November 2025)
2. Enterprise board P Isherwood
3. 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 F Phelps Head of Income Generation & Engagement

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Friends of Westonbirt Arboretum

Reference and administrative details

For the year ended 31 December 2025

Bankers Lloyds Bank PLC CAF Bank Ltd 14 Castle Street 25 Kings Hill Avenue Cirencester West Malling Gloucestershire Kent GL7 1QJ ME19 4JQ CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ Auditors Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Friends of Westonbirt Arboretum

Chair's statement

For the year ended 31 December 2025

In times like these, places like Westonbirt Arboretum matter more than ever. Arboreta are not only places of beauty and reflection, but living collections that support scientific research, safeguard threatened tree species and provide opportunities to build the skills and knowledge needed for a greener future. They also offer something equally important to everyone who visits - access to nature which provides a space for wellbeing and opportunities for people of all ages to engage with and learn from the natural world.

Against this backdrop, 2025 marked a year of renewed momentum and quiet strength for the Friends of Westonbirt Arboretum, as we prepared to enter our 40th anniversary year. With over 39,000 members, our community of supporters continues to be the bedrock of everything we achieve together. Their commitment enables our work, strengthens our voice, and ensures the Arboretum can continue to thrive for generations to come.

This year we continued to invest in projects that build the Arboretum’s future. We were proud to support the development of the Youth Forum, empowering young people to help shape Westonbirt’s long ‑ term vision, and to continue funding key roles and programmes that deepen learning, conservation, and community engagement. During the year, the Charity awarded the Arboretum £545.5k in grants and paid £818.6k for Arboretum Access Rights. This combined funding of £1.4m directly supports the site and enriches the experience of visitors.

Our trading subsidiary delivered a strong performance. The Westonbirt Shop exceeded its annual profit target, returning £44.7k to the Charity and offering a retail experience that reflects the character and quality of the Arboretum. Alongside this, gifts in Wills continue to play a particularly special role, enabling us to support projects and initiatives that might not otherwise be possible. This generosity sits alongside the valued support we receive through grants from trusts and foundations, memberships and donations. Together, these contributions strengthen our ability to support Westonbirt.

The Board of Trustees has continued to guide the Charity with diligence. This year we welcomed four new Trustees who bring fresh expertise and perspectives, while expressing our sincere thanks to the four Trustees who stepped down for their dedicated service. I have also been fortunate to be ‑ supported by Paul Isherwood and Sarah Bryars as joint Vice Chairs throughout the year.

As we look ahead and beyond our 40th year, our focus is firmly on the future—on strengthening our partnership with Forestry England, deepening our connection with members, and investing in the work that will safeguard the Arboretum for the next generation. The loyalty, generosity, and belief of our supporters remain our greatest strength, and we enter this milestone year with gratitude and a clear sense of purpose.

Martyn Smith - Chair of the Board of Trustees

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

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 support from us, the on-site Charity. 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.

The Friends of Westonbirt Arboretum is a Charity with over 39,000 members. Our 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.

Through the generosity of our members and supporters, the Friends are able to enhance and extend what is possible on site. Our funding and support enable additional projects, experiences and opportunities that sit beyond core public funding, helping Westonbirt Arboretum to realise its potential as a world leader in trees.

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 Officer 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.

The Charity is a membership and fundraising organisation for Westonbirt, The National Arboretum and as of 31 December 2025 we had over 39,000 members. The Board is accountable to the Charity Commission as a registered Charity.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

Recruitment and appointment of Trustees

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 at 3 years, serving a maximum of three terms of office (9 years in total). 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: 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.

The Trustees have continued to keep the Charity’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 the Charity 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 monitored 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 the Charity is delegated to the full-time employed Chief Executive Officer (CEO) and, through them, to the staff team. The Charity 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 the Charity, as well as working with key stakeholders such as Forestry England. This has been demonstrated through the Forestry England Director being invited to report to the Board as a guest at Board meetings on performance and developments of the Arboretum on a quarterly basis.

Related parties

Forestry England is the site manager of the Arboretum and the major beneficiary of our grant giving. To this end, the Charity 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 recipients (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.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

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 10 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 3rd-party benchmarking against both the voluntary sector and visitor attractions.

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:

Strategies

Our strategy supports the long-term vision for the Arboretum, developed in partnership with Forestry England, Our Place in a Changing World. This shared vision responds to the environmental and societal challenges arising from a changing climate and evolving communities. It positions the Arboretum as a world leader in trees, inspiring people through conservation, education and participation.

To support this vision, the Charity has adopted a five-year strategic framework structured around three core pillars: generating income, advocacy and charitable activities and impact. Together these pillars strengthen the organisation’s financial sustainability while ensuring the Arboretum continues to deliver meaningful public benefit.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

Generating income

Sustainable income generation remains essential to supporting the work and future resilience of the Arboretum. Activity within this pillar focuses on membership, fundraising and enterprise.

Advocacy

Advocacy activity focuses on engaging and inspiring a wider range of communities. Through partnerships and collaborations, the Charity seeks to promote inclusion, participation and greater connection with trees and nature, supporting the wider relevance and impact of the Arboretum.

Charitable activities and impact

The Charity works closely with Forestry England to support priority areas of activity across the Arboretum. Through the application of charitable income and partnerships, the organisation enables programmes that advance conservation, education and participation. This ensures that the funds raised are translated into tangible outcomes for the landscape, for learning, and for the communities who engage with the Arboretum.

Public benefit

The Friends of Westonbirt Arboretum provides several public benefits, primarily focused on supporting the Arboretum itself. This is made possible through fundraising and generating income through membership and retail. With this income we support, enable and facilitate the following, primarily through our strong partnership and collaboration with Forestry England who manage the site.

Strategic report

Achievements and performance

During the year, the Friend’s main operations fell into the following areas:

  1. Membership;

  2. Retail;

  3. Fundraising; and

  4. Charitable Activities and Impact.

Membership

As a membership organisation, the Charity 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 the Charity makes to the Arboretum: greater membership numbers result in a greater level of financial support for the Arboretum through further grant giving. This has been a strong year for membership growth as a result of our pivot in marketing activity, testing incentives and improving or increasing our communication to members. We ended the year with 39,488 members; an increase of 4.2% year-on-year. This resulted in membership income of £1,713k (including Gift Aid).

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

Member feedback:

I have thoroughly enjoyed over the last 5 years having access to the wonderful grounds and facilities that the Arboretum has and fully appreciate the kindness and helpfulness that is always shown to visitors.

We have really enjoyed visiting Westonbirt over many years and very much admire all that you do.

Westonbirt remains a very special place for my wife and I and we continue to support the arboretum through sponsorship and a bench and ongoing membership.

Member communications and engagement

Our member magazine continues to play an essential role in telling the story of the Arboretum - sharing the work we undertake, celebrating the impact of our projects, and deepening members’ connection to Westonbirt. It remains one of our most valued communication channels, helping bring our conservation, education, and participation activities to life and inspiring members to engage even more closely with the site.

Membership continues to offer excellent value while remaining comfortably within the Gift Aid rules. Benefits include discounts with partner organisations, free entry to partner gardens, free parking at Arboretum events, regular newsletters, and exclusive behind ‑ the ‑ scenes updates.

Since the Charity’s founding in 1985, our members have been central to the Arboretum’s success. Their loyalty, enthusiasm, and belief in our mission continue to underpin everything we achieve. We remain deeply grateful for their steadfast support, which plays a vital role in securing Westonbirt’s sustainable future for generations to come.

Arboretum Access Rights Payment (the AARP)

The AARP payment is the payment the Charity makes to Forestry England to secure access for its members. This money contributes to the operational management of the site. This includes:

The 2025 AARP payment was £818.6k.

Retail

Our retail operation has delivered an exceptional performance in 2025, providing both a high ‑ quality visitor experience and a significant financial contribution to the Charity. Turnover reached £625.5k, finishing the year 20% above budget (£520k) and reflecting an impressive 21% year ‑ on ‑ year growth. This achievement is particularly notable given the national economic backdrop, with UK GDP growth at only 1.4% in 2025.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

The shop generated a profit of £44.7k, ahead of the budgeted £34.3k, delivering a favourable variance of £10.4k for the year. Gross margin remained strong at 45%, in line with our targets, even after accounting for the member discount structure. Throughout the year we continued to enhance and diversify our product range - expanding Westonbirt ‑ own merchandise, increasing our use of local and artisan suppliers, and ensuring that the offer reflects the character and quality of the Arboretum.

Through the Charity's Enterprise subsidiary operating the retail function, we can provide Forestry England with a well ‑ run, mission ‑ aligned, onsite shop while also generating a meaningful surplus. This surplus is returned to the Charity and awarded as grants to Forestry England and other partners, directly supporting conservation, learning and participation across the Arboretum. Our retail performance in 2025 demonstrates both commercial resilience and alignment with our charitable purpose - providing a strong platform for further growth and continued impact in 2026.

Fundraising

Fundraising in 2025 comprised a blend of individual giving, legacies, and grants from trusts and foundations. Total fundraising income for the year, including donated facilities, amounted to £550.2k (see note 3 of the accounts).

This funding supported priority areas such as:

Legacies continued to represent an important and valued source of income during the year, sitting alongside individual giving and grants from trusts and foundations.

We remain grateful to all trust and foundation partners who awarded grants during the year (see note 3 and note 23 of the accounts).

Grants awarded

The Charity awarded new grants totalling £545.5k during 2025 and adjustments were made during the year amounting to £99.9k in relation to underspent and early ended prior year projects, meaning the net new grant commitment recognised in the year was £445.5k. A total of £455.3k was paid out in the year against prior and current year grants awarded (see notes 8 & 9 of the accounts). These figures demonstrate a significant and sustained contribution to the Arboretum’s conservation, learning, participation, access and site development priorities.

Charitable activity and impact

The numbers alone cannot tell the full story of what our supporters made possible in 2025. Each grant awarded, each membership renewed, and each purchase in the shop translated directly into work on the ground that strengthened Westonbirt’s collection, broadened access, and enriched public understanding.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

1. Conservation impact

Funding for the Tree Conservation Manager, Student Arborist, and seed ‑ collecting programmes enabled Forestry England to advance critical conservation work - supporting the care, documentation, propagation, and global scientific exchange needed to protect a world ‑ class tree collection. These grants safeguard the Arboretum’s living landscape for current visitors and future generations.

2. Education & learning impact

Support for the Outdoor Learning Officer and the establishment of the Youth Forum broadened educational impact beyond schools, embedding young people in decision ‑ making and deepening learning opportunities for diverse audiences. These programmes strengthen the Arboretum’s role as a centre for environmental education and inspiration.

3. Participation & inclusion impact

Funding for community engagement continued to break down barriers to access. Grants enabled community groups, young people, individuals with complex needs, and those facing social or financial challenges to experience Westonbirt - often for the first time. The Community Grant Giving Fund and the Forestry England Community Coordinator role ensured that engagement was meaningful, ‑ supported and life enhancing.

4. Access & experience impact

Grants supporting accessibility, such as mobility scooters, wheelchair provision, and replacement accessible picnic benches; ensured that everyone can experience the Arboretum with dignity and comfort. The continued investment in play infrastructure supported families, encouraged outdoor learning, and enhanced the visitor experience.

5. Strengthened site operations via AARP

The £818.6k AARP payment contributed to essential day ‑ to ‑ day operations including:

This mechanism ensures that membership income delivers tangible public benefit every single day.

The Friends 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. We continue to fundraise towards the Community Grant Giving Fund to enable us to support further community organisations and individuals. During 2025 we supported The Churn Project, Imayla CIC and Bristol Carers to access the site through funded transport and catering.

Priorities for 2026 - Looking ahead

As we look ahead to 2026, we do so from a position of real strength. This past year has been exceptionally positive for the Charity, with robust performance across all income streams and a clear demonstration of the passion and commitment of our supporter community. Achieving such results in a challenging economic environment is no small accomplishment. While many organisations continue to face financial headwinds, we have remained resilient and, in many cases, exceeded sector trends.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

Our financial model for 2026 has therefore been shaped with both ambition and prudence. It reflects the strong foundation built in 2025. It avoids assuming further growth in membership numbers but remains a stretch target - one that recognises the uncertainties of the current economic and global landscape, while ensuring we remain focused, motivated, and forward ‑ thinking, rather than complacent.

This approach positions us well to continue investing in what matters: strengthening our supporter base, sustaining reliable unrestricted income, working ever more closely with Forestry England, and ensuring that the Arboretum thrives through ongoing conservation, education, and participation initiatives.

Together, we are creating the conditions for continued success and ensuring Westonbirt is future ‑ ready, resilient, and capable of delivering even greater impact in the years ahead.

Westonbirt Forestry England Volunteers supporting The Friends of Westonbirt Arboretum

As ever, the contributions of the volunteers remains vital to the Arboretum. Forestry England leads and supports a remarkable community of more than 300 volunteers, whose commitment and enthusiasm shape the visitor experience every day. We are deeply appreciative of the opportunity to collaborate so closely with both Forestry England and their volunteer teams, whose work enables us to champion the Charity, grow membership, and engage visitors in our fundraising efforts.

Our partnership with the Welcome Building volunteers and the Tree Guides continues to be especially valuable. Their conversations with visitors help introduce the Friends, highlight opportunities for deeper involvement, and guide new supporters through the membership process. Their advocacy and warm welcome make an enormous difference to the Charity’s visibility and impact on site.

The Friends’ Membership Team has also maintained a strong working relationship with Forestry England’s Visitor Services team. Together, we ensure volunteers are kept well ‑ informed through regular briefings, training sessions, and eNews updates. This shared approach ensures that volunteers have the confidence and knowledge they need to represent and support the Charity’s work.

We remain profoundly grateful for everything volunteers contribute to Westonbirt and for the outstanding leadership and support provided by the Forestry England team who train and manage them. Their collective efforts continue to strengthen our activities, our membership, and our community.

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 their ongoing commitment.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

Investments

Investment policy

The Charity’s investment policy is reviewed from time to time and amended when necessary. The investment policy in place during 2025 was conservative, limiting investments to deposits with high quality counterparts and investments in CCLA’s money market fund. The Trustees reviewed the policy during the year and, in light of the current economic and political climate, have considered that continuing to adopt this investment policy remains appropriate.

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 2026 budget and the performance of the Charity, to date, is in line with the financial plan.

Results

After accounting for net grant expenditure totalling £185,660 (2024: £28,595), the Charity made a consolidated unrestricted surplus of £307,899 (2024: surplus of £176,030). This surplus was added to the brought forward reserves of £806,215 (2024: £630,185) to give caried forward unrestricted funds of £1,114,114 (2024: £806,215) at the year end.

After accounting for grant expenditure totalling £259,873 (2024: £228,160), the Charity made a consolidated restricted fund surplus of £2,309 (2024: loss of £22,164). This surplus was added to the brought forward reserves of £134,473 (2024: £156,637) to give carried forward restricted funds of £136,782 (2024: £134,473) at the year end.

Across all funds the Charity made a consolidated surplus of £310,208 (2024: £153,866) which was added to the brought forward reserves of £940,688 (2024: £786,822) to give carried forward reserves of £1,250,896 (2024: £940,688).

Reserves policy

The Charity held reserves of £1,250,896 (2024: £940,688) at the year end. Of these funds, £664,114 (2024: £406,215) were designated funds, £136,782 (2024: £134,473) were restricted and £450,000 (2024: £400,000) 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 the costs of goods sold relating to the Shop, the Charity’s annual expenditure was £1.8m, so 3 months expenditure equates to £450,000. As such, the Trustees feel that the funds held as general reserves are at the correct level at the year end.

Free reserves are 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. At the year end, the Charity held free reserves of £430,957 (2024: £359,415). The Trustees have reviewed 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.

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Friends of Westonbirt Arboretum

Report of the Trustees

For the year ended 31 December 2025

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).

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:

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:

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 re-appointed as auditors to the Group and the Charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 20 May 2026 and signed on their behalf by

Martyn Smith

Martyn Smith - Chair of Trustees

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Independent auditors' report

To the members of

Friends of Westonbirt Arboretum

Opinion

We have audited the financial statements of Friends of Westonbirt Arboretum (the 'Charity') and its subsidiary (the 'Group') for the year ended 31 December 2025 which comprise the consolidated statement of financial activities, consolidated and 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:

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 the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 10 to the financial statements, 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 the Charity financial statements and our auditor’s report thereon. Our opinion on the Group and the 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.

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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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the 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:

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.

15

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:

(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.

▪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.

16

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: 20 May 2026

Robert 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

17

Friends of Westonbirt Arboretum

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2025

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
278,475
271,739
Charitable activities
4
-
1,713,021
Other trading activities
5
-
637,644
Investments
-
53,093
Other
-
51
Total income
278,475
2,675,548
Expenditure on:
Raising funds
-
712,531
Charitable activities
259,873
1,671,411
Total expenditure
7
259,873
2,383,942
Net income
18,602
291,606
Transfers between funds
(16,293)
16,293
Net movement in funds
10
2,309
307,899
Reconciliation of funds:
Total funds brought forward
134,473
806,215
Total funds carried forward
136,782
1,114,114		 2025
Total
£
550,214
1,713,021
637,644
53,093
51
2,954,023
712,531
1,931,284
2,643,815
310,208
-
310,208
940,688
1,250,896		 2024
Total
£
291,739
1,528,011
526,707
55,779
198
2,402,434
602,704
1,645,864
2,248,568
153,866
-
153,866
786,822
940,688

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 23 to the accounts.

18

Friends of Westonbirt Arboretum

Consolidated balance sheets

As at 31 December 2025

----- Start of picture text -----
The Group The Group The Charity The Charity
2025 2024 2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 13 445 2,535 445 2,377
Tangible assets 14 18,598 38,050 11,539 25,771
Investments - - 1,000 1,000
19,043 40,585 12,984 29,148
Current assets
Stocks 17 52,777 49,884 - -
Debtors 18 345,985 122,611 536,994 282,991
Cash at bank and in hand 2,275,954 2,060,581 2,097,081 1,896,771
2,674,716 2,233,076 2,634,075 2,179,762
Liabilities
Creditors: amounts falling due within 1
year 19 (1,337,837) (1,224,499) (1,291,137) (1,159,748)
Net current assets 1,336,879 1,008,577 1,342,938 1,020,014
Total assets less current liabilities 1,355,922 1,049,162 1,355,922 1,049,162
Creditors: amounts falling due after
more than 1 year 20 (105,026) (108,474) (105,026) (108,474)
Net assets 22 1,250,896 940,688 1,250,896 940,688
Funds 23
Restricted funds 136,782 134,473 136,782 134,473
Unrestricted funds
Designated funds 664,114 406,215 664,114 406,215
General funds 450,000 400,000 450,000 400,000
Total charity funds 1,250,896 940,688 1,250,896 940,688
----- End of picture text -----

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 20 May 2026 and signed on their behalf by

Martyn Smith

Martyn Smith - Chair of Trustees

19

Friends of Westonbirt Arboretum

Consolidated statement of cash flows

For the year ended 31 December 2025

Cash 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
(Increase) / decrease in stock
(Increase) in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Net cash provided by investing activities
Increase 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		 2025
£
310,208
22,865
2,090
(53,093)
2,517
(2,893)
(223,374)
109,890
168,210
53,093
(5,930)
47,163
215,373
2,060,581
2,275,954		 2024
£
153,866
19,361
3,723
(55,779)
-
4,944
(14,564)
(27,615)
83,936
55,779
(9,658)
46,121
130,057
1,930,524
2,060,581

The Charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

20

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

1. Accounting policies

a) Basis of preparation

Friends of Westonbirt Arboretum is a charitable company limited by guarantee registered in England and Wales. The registered office address is The Great Oak Hall, Westonbirt, The National Arboretum, Tetbury, Gloucestershire, GL8 8QS.

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 Charity and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the Charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the Charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the Charity itself is not presented because the Charity 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.

21

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

1. Accounting policies (continued)

d) Income (continued)

Income received in advance of provision of membership subscriptions is deferred until criteria for income recognition are met.

e) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) 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.

g) 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.

h) 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.

22

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

1. Accounting policies (continued)

i) 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:

2025 2024
Raising funds 5.7% 4.1%
Charitable activities 94.3% 95.9%

j) 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).

k) 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.

l) 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 20% straight line Goodwill 20% straight line

m) Investment in subsidiaries

The Charity has one wholly owned subsidiary, Friends of Westonbirt Arboretum Enterprises Limited, (registered company number 12410907). The subsidiary is used for non-primary purpose trading activities. The subsidiary undertaking is valued at cost less any cumulative impairment losses in the Charity's accounts.

n) 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.

23

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

1. Accounting policies (continued)

o) 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.

p) 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.

q) 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.

r) Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

s) Pension costs

The Charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

t) 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.

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 k above and amortisation as described in note l above.

24

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds		 Restricted
£
£
265,606
26,133
-
1,528,011
-
526,707
-
55,779
-
198
265,606
2,136,828
-
602,704
228,160
1,417,704
228,160
2,020,408
37,446
116,420
(59,610)
59,610
(22,164)
176,030
Unrestricted		 2024
Total
£
291,739
1,528,011
526,707
55,779
198
2,402,434
602,704
1,645,864
2,248,568
153,866
-
153,866

25

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

3. Income from donations and legacies

Grants:
Groundwork UK Tesco Stronger Starts
The HDH Wills 1965 Charitable Trust
The Boshier-Hinton Foundation
Ernest Cook Charitable Trust
The Rowlands Trust
Bruce Wake Charitable Trust
The Ammco Trust
Barnwood Trust
The Michael Marks Charitable Trust
The Medlock Charitable Trust
The Finnis Scott Foundation
The Notgrove Trust
Julia Rausing Trust
Cotswolds National Landscape
The John Horseman Trust
Individual donations
Donated facilities
Legacies
Total income from donations and legacies
Prior period comparative
Grants:
The Summerfield Charitable Trust
The Ernest Kleinwort Charitable Trust
Samuel William Farmer Trust
Julia Rausing Trust
The Swire Charitable Trust
J and M Britton Charitable Trust
The John Horseman Trust
The Ammco Trust
Miller Knoll
The Edward Cadbury Charitable Trust
Bruce Wake Charitable Trust
Douglas Arter Foundation
Cotswolds National Landscape
Individual donations
Donated facilities
Total income from donations and legacies		 Restricted
£
£
500
-
37,000
-
2,000
-
20,500
-
3,100
-
5,000
-
500
-
33,000
-
5,000
-
10,000
-
5,000
-
10,000
-
57,000
-
24,945
-
60,000
-
4,930
24,696
-
11,250
-
235,793
278,475
271,739
Restricted
£
£
10,000
-
5,000
-
5,000
-
133,000
-
30,000
-
5,000
-
60,000
-
500
-
8,138
-
3,000
-
5,000
-
500
-
468
-
-
14,883
-
11,250
265,606
26,133
Unrestricted
Unrestricted		 2025
Total
£
500
37,000
2,000
20,500
3,100
5,000
500
33,000
5,000
10,000
5,000
10,000
57,000
24,945
60,000
29,626
11,250
235,793
550,214
2024
Total
£
10,000
5,000
5,000
133,000
30,000
5,000
60,000
500
8,138
3,000
5,000
500
468
14,883
11,250
291,739

26

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

4. Income from charitable activities

Membership subscriptions 2025
£
1,713,021		 2024
£
1,528,011

All income from charitable activities in the current and prior year was unrestricted.

5.
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		 2025
£
625,547
12,097
637,644		 2024
£
517,157
9,550
526,707

All income from other trading activities in the current and prior year was unrestricted.

6. Government grants

The Charity does not receive government grants.

27

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

7. Total expenditure

Arboretum access rights
Grant expenditure (note 8)
Staff costs (note 11)
Staff recruitment and development
Other staff expenditure
Fundraising costs
Donated facilities - office space
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
Loss on disposal of fixed assets
Sub-total
Total expenditure
FoWAE trading costs, excluding
wages and depreciation/amortisation
Allocation of support and
governance costs		 Raising
funds
£
-
-
282,194
-
-
393,384
7,979
5,625
-
-
5,380
-
-
-
-
-
-
-
-
-
-
-
-
694,562
17,969
712,531		 Charitable
activities
£
818,592
445,533
178,082
-
-
-
-
5,625
117,474
71,259
-
-
-
-
-
-
-
-
-
-
-
-
-
1,636,565
294,719
1,931,284		 Support and
governance
costs
£
-
-
157,131
3,634
7,054
-
-
-
-
-
19,575
14,360
4,051
1,377
6,637
10,956
1,439
4,784
71,155
728
112
7,178
2,517
312,688
(312,688)
-		 2025 Total
£
818,592
445,533
617,407
3,634
7,054
393,384
7,979
11,250
117,474
71,259
24,955
14,360
4,051
1,377
6,637
10,956
1,439
4,784
71,155
728
112
7,178
2,517
2,643,815
-
2,643,815

Total governance costs in 2025 were £18,010 (2024: £17,857).

28

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

7. Total expenditure (continued) Prior period comparative

Arboretum access rights
Grant expenditure (note 8)
Staff costs (note 11)
Staff recruitment and development
Other staff expenditure
Fundraising costs
Donated facilities - office space
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
Write back of over-provision
Corporation tax
Sub-total
Total expenditure
FoWAE trading costs, excluding
wages and depreciation/amortisation
Allocation of support and
governance costs		 Raising
funds
£
-
-
238,739
-
-
325,131
14,501
5,625
-
-
6,844
-
-
-
-
-
-
-
-
-
-
-
-
-
-
590,840
11,864
602,704		 Charitable
activities
£
762,342
256,755
178,260
-
-
-
-
5,625
96,590
70,462
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,370,034
275,830
1,645,864		 Support and
governance
costs
£
-
-
144,548
4,009
4,080
-
-
-
-
-
16,238
15,147
3,660
1,283
3,279
10,858
2,275
2,083
75,961
57
2,686
3,207
13,121
(15,915)
1,117
287,694
(287,694)
-		 2024 Total
£
762,342
256,755
561,547
4,009
4,080
325,131
14,501
11,250
96,590
70,462
23,082
15,147
3,660
1,283
3,279
10,858
2,275
2,083
75,961
57
2,686
3,207
13,121
(15,915)
1,117
2,248,568
-
2,248,568

29

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

8. Grants payable During the year, 9 (2024: 7) 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
Youth Forum
Student Arborist Placement
Community Coordinator
Community Engagement
Tree Conservation Management
Outdoor Learning Officer
Silk Wood Community Planting Project Manager
Silk Wood Community Planting Project
Other projects < £10,000
Grants payable to Forestry England
Community grants payable
Total grants payable
Underspends from commitments made in prior years:
Play Project
Student Arborist Placement
Westonbirt Tree Conservation Management
Community Shelter
Other projects < £10,000
Total grants payable after amendments
9.
Grants commitments
Grant commitments brought forward
Grants committed during the period
Grants written back during the period
Grants paid during the period
Grant commitments carried forward		 2025
2024
£
£
7,000
103,140
57,400
-
29,000
-
90,000
-
9,074
-
180,000
-
20,000
-
-
67,250
110,632
147,760
39,981
51,149
543,087
369,299
2,388
2,356
545,475
371,655
(80,000)
-
(15,609)
-
-
(85,000)
-
(11,448)
(4,333)
(18,452)
445,533
256,755
2025
2024
£
£
420,518
498,929
545,475
371,655
(99,942)
(114,900)
(455,297)
(335,166)
410,754
420,518
The Group
The Group

30

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

10. Net movement in funds This is stated after charging:

Net movement in funds
This is stated after charging: The Group
2025 2024
£ £
Depreciation and amortisation 24,955 23,082
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses 146 Nil
Auditors' remuneration (excluding VAT):
Statutory audit 11,400 10,800
Other services 700 700

In 2025, 1 Trustee was reimbursed £146 for travel expenses (2024: £Nil).

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.

11. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2025
2024
£
£
538,909
495,662
38,684
28,400
39,814
37,485
617,407
561,547
The Group		 2025
2024
£
£
407,373
388,673
27,743
22,524
32,776
31,986
467,892
443,183
The Charity

There were no amounts received by employees for redundancy payments during the year (2024: £4,564 was paid to five employees). No amounts were outstanding at year end.

Included in salaries and wages are termination costs totalling £10,486 (2024: £Nil), comprising statutory compensation payments of £9,270 and ex-gratia payments of £1,216. Termination costs have been funded from unrestricted general funds (note 23).

Employees earning more than £60,000 during the year:
Between £60,000 and £70,000		 2025
No.
1		 2024
No.
-

The key management personnel of the Charity comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £80,770 (2024: £75,132).

31

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

11. Staff costs and numbers (continued)

Average number of employees 2025
2024
#
#
30
24
The Group		 2025
2024
#
#
13
12
The Charity

12. 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 available profits to the Charity. The corporation tax charge arising from non-distributable reserves was £Nil in 2025 (2024: £1,117).

13. Intangible fixed assets Group

Cost
At 1 January 2025 and 31 December 2025
Amortisation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
Charity
Cost
At 1 January 2025 and 31 December 2025
Amortisation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 £
9,042
6,666
1,931
8,597
445
2,376
Computer
software		 £
9,567
9,408
159
9,567
-
159
Goodwill		 Total
£
18,609
16,074
2,090
18,164
445
2,535
£
9,042
6,665
1,932
8,597
445
2,377
Computer
software

32

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

14. Tangible fixed assets Group

£
Cost
At 1 January 2025
33,518
Additions in year
-
Disposals
(33,518)
At 31 December 2025
-
Depreciation
At 1 January 2025
26,583
Charge for the year
4,418
Disposals
(31,001)
At 31 December 2025
-
Net book value
At 31 December 2025
-
At 31 December 2024
6,935
Charity
£
Cost
At 1 January 2025
33,518
Additions in year
-
Disposals
(33,518)
At 31 December 2025
-
Depreciation
At 1 January 2025
26,583
Charge for the year
4,418
Disposals
(31,001)
At 31 December 2025
-
Net book value
At 31 December 2025
-
At 31 December 2024
6,935
Leasehold
improvements
Leasehold
improvements		 £
62,267
-
(10,598)
51,669
46,607
7,017
(10,598)
43,026
8,643
15,660
£
20,559
-
(10,598)
9,961
16,685
2,291
(10,598)
8,378
1,583
3,874
Fixtures
and fittings
Fixtures
and fittings		 £
100,088
5,930
(83,301)
22,717
84,633
11,430
(83,301)
12,762
9,955
15,455
£
95,586
5,930
(83,301)
18,215
80,624
10,936
(83,301)
8,259
9,956
14,962
Computer
equipment
Computer
equipment		 Total
£
195,873
5,930
(127,417)
74,386
157,823
22,865
(124,900)
55,788
18,598
38,050
Total
£
149,663
5,930
(127,417)
28,176
123,892
17,645
(124,900)
16,637
11,539
25,771

33

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

15. 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.

Turnover
Cost of sales
Gross profit
Other operating income
Administrative expenses
Operating profit
Interest payable
Profit on ordinary activities
Corporation tax
Gift aid to parent undertaking
Profit for financial year
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities
Funds
Parent Charity
The Charity's gross income and the results for the year are disclosed
Gross income
Results for the year		 2025
£
625,545
(345,956)
279,589
1
(227,522)
52,068
(7,413)
44,655
-
(44,655)
-
2025
£
246,706
(245,706)
1,000
as follows:
2025
£
2,405,744
310,208		 2024
£
517,063
(289,300)
227,763
93
(184,821)
43,035
(9,602)
33,433
(1,117)
(27,909)
4,407
2024
£
232,060
(231,060)
1,000
2024
£
1,946,572
149,459

16. Parent Charity

34

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

17. Stock

2025
2024
£
£
Finished goods and goods for resale
52,777
49,884
18.
Debtors
2025
2024
£
£
Trade debtors
9,030
2,938
Prepayments
52,610
43,921
Accrued income
284,345
75,752
Amounts owed by Group undertakings
-
-
345,985
122,611
19.
Creditors : amounts due within 1 year
2025
2024
£
£
Trade creditors
76,087
57,894
Grants payable (note 9)
305,728
312,044
Accruals
36,369
49,633
Corporation tax
-
1,117
Other taxation and social security
95,903
68,287
Deferred income (note 21)
801,408
734,573
Other creditors
22,342
951
1,337,837
1,224,499
20.
Creditors : amounts due in more than 1 year
2025
2024
£
£
Grants payable (note 9)
105,026
108,474
The Group
The Group
The Group
The Group		 2025
2024
£
£
-
-
2025
2024
£
£
9,030
2,938
49,634
41,508
279,324
72,262
199,006
166,283
536,994
282,991
2025
2024
£
£
51,693
30,926
305,728
312,044
22,666
41,772
-
-
95,903
40,433
801,408
734,573
13,739
-
1,291,137
1,159,748
2025
2024
£
£
105,026
108,474
The Charity
The Charity
The Charity
The Charity

35

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

21. Deferred income

At 1 January 2025
Deferred during the year
Released during the year
At 31 December 2025		 2025
2024
£
£
734,573
631,985
801,408
734,573
(734,573)
(631,985)
801,408
734,573
The Group		 2025
2024
£
£
734,573
631,985
801,408
734,573
(734,573)
(631,985)
801,408
734,573
The Charity

Deferred income relates to membership subscriptions which were purchased during 2025 but for which the membership period ends in the following financial year.

22. Analysis of net assets between funds

Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non-current liabilities
Net assets at 31 December 2025
Prior year comparative
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non-current liabilities
Net assets at 31 December 2024		 £
-
-
161,007
(24,225)
-
136,782
£
-
-
277,897
(143,424)
-
134,473
Restricted
funds
Restricted
funds		 £
-
-
969,842
(305,728)
-
664,114
£
-
-
718,259
(312,044)
-
406,215
Designated
funds
Designated
funds		 £
18,598
445
1,543,867
(1,007,884)
(105,026)
450,000
£
38,050
2,535
1,236,920
(769,031)
(108,474)
400,000
General
funds
General
funds		 Total
Funds
£
18,598
445
2,674,716
(1,337,837)
(105,026)
1,250,896
Total
Funds
£
38,050
2,535
2,233,076
(1,224,499)
(108,474)
940,688

36

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

23. Movements in funds
Restricted funds
Access
Play Phases 2 & 3
Community Engagement
Outdoor Learning Officer
Student Arborist
Total restricted funds
Unrestricted funds
Designated funds:
Small Grants Fund
Grant for site rates
Digital Transformation
Total designated funds
General funds
FOWA Enterprises
Total general funds
Total unrestricted funds
Total funds
Silk Wood Community
Planting Project
Tree Conservation
Manager
Arboretum
Development Fund
Community Grant
Giving Fund		 At 1
January
2025
£
134,473
-
-
-
-
-
-
134,473
347,215
30,000
5,000
24,000
-
406,215
400,000
-
400,000
806,215
940,688		 Income
£
121,984
35,545
42,000
10,446
43,000
20,500
5,000
278,475
-
-
-
-
-
-
2,050,501
625,547
2,676,048
2,676,048
2,954,523		 £
(110,632)
(34,795)
(41,500)
(9,446)
(39,000)
(20,000)
(4,500)
(259,873)
-
(15,981)
(2,388)
(24,000)
-
(42,369)
(1,760,181)
(580,892)
(2,341,073)
(2,383,442)
(2,643,315)
Expenditure		 £
(9,043)
(750)
(500)
(1,000)
(4,000)
(500)
(500)
(16,293)
237,399
15,981
2,888
24,000
20,000
300,268
(284,975)
-
(284,975)
15,293
(1,000)
Transfers
between
funds		 £
136,782
-
-
-
-
-
-
136,782
584,614
30,000
5,500
24,000
20,000
664,114
405,345
44,655
450,000
1,114,114
1,250,896
At 31
December
2025

37

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

23. Movements in funds (continued) Purposes of restricted funds

Silk Wood Community Funding for this project will bring together community groups to Planting Project 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: The D'Oyly Carte Charitable Trust The John Horseman Trust The Swire Charitable Trust Garfield Weston Julia Rausing Trust Miller Knoll The Summerfield Charitable Trust

Access Funding for mobility scooters, wheelchairs and picnic benches. The funders are: The Ammco Trust Bruce Wake Charitable Trust The Boshier-Hinton Foundation Cotswolds National Landscape The Rowlands Trust Tree Conservation Funding for a new tree conservation manager role. The funders are: Manager The HDH Wills 1965 Charitable Trust The Michael Marks Charitable Trust Play Phases 2 & 3 Funding from The Medlock Charitable Trust towards the development of a new play area. Community Engagement Funding towards community engagement role delivering FE community projects. The funders are: Barnwood Trust The Notgrove Trust Groundwork UK Tesco Stronger Starts Outdoor Learning Officer Funding from Ernest Cook Charitable Trust for a new outdoor learning officer role. Student Arborist Funding from The Finnis Scott Foundation for a student arborist.

38

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

23. Movements in funds (continued) Purpose of designated funds

Arboretum This fund seeks to raise funds for operational and revenue needs to Development Fund 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 This fund has been created to enable grants to be awarded, at the Giving Fund 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.

Grant for site rates This fund has been created for next year's contribution to FE for site rates.

Digital Transformation Provision for the investment in the review and development of the IT infrastructure and digital use within the Charity to ensure safe and efficient practices.

Transfers

A transfer has been made from the Arboretum Development Fund to general funds, to bring the balance up to £450,000.

39

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

23. Movements in funds (continued)

Prior year comparative

Restricted funds
Access
Tree Conservation
Play Phase 1
Neurodivergence
Community Engagement
Total restricted funds
Unrestricted funds
Designated funds:
Small Grants Fund
Grant for site rates
Total designated funds
General funds
FOWA Enterprises
Total general funds
Total unrestricted funds
Total funds
Arboretum
Development Fund
Community Grant
Giving Fund
Silk Wood Community
Planting Project		 At 1
January
2024
£
156,637
-
-
-
-
-
156,637
179,592
30,000
25,000
-
234,592
400,000
(4,407)
395,593
630,185
786,822		 Income
£
241,138
9,000
5,000
5,000
468
5,000
265,606
-
-
-
-
-
1,619,671
517,157
2,136,828
2,136,828
2,402,434		 £
(228,160)
-
-
-
-
-
(228,160)
(12,240)
(27,149)
(2,356)
-
(41,745)
(1,620,146)
(358,517)
(1,978,663)
(2,020,408)
(2,248,568)
Expenditure		 £
(35,142)
(9,000)
(5,000)
(5,000)
(468)
(5,000)
(59,610)
179,863
27,149
(17,644)
24,000
213,368
475
(154,233)
(153,758)
59,610
-
Transfers
between
funds		 £
134,473
-
-
-
-
-
134,473
347,215
30,000
5,000
24,000
406,215
400,000
-
400,000
806,215
940,688
At 31
December
2024

40

Friends of Westonbirt Arboretum

Notes to the financial statements

For the year ended 31 December 2025

24. 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 £818,592 (2024: £762,342).

During the current year, the Group also awarded Forestry England with grants of £543,087 (2024: £369,299) and received donated facilities from Forestry England at a value of £11,250 (2024: £11,250) for office space.

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 £25,200 for management fees (2024: £23,784) and £7,412 for interest on the intercompany loan (2024: £9,602). At year end, £199,006 was owed to the Charity (2024: £166,283), which includes a loan of £100,000 (2024: £125,000) and interest of £1,085 (2024: £2,143).

A close family member of the Charity's CEO holds a senior position with the company SumUp. During the year, SumUp gave Friends of Westonbirt Arboretum a 95% discount on Self Service kiosks which the Charity purchased. The cost for the current year were £505 (2024: £Nil). At the year end, no monies were owed by the Charity.

41