2020-12-31-accounts - The Henry Doubleday Research Association

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ENTS
		Pages
Board ofTrustees' Annual Report
Objectives	and Activities
Achievements and Performance
Plans for Future Periods		10
Financial Review
Structure,	Governance and Management	13
Reference	and Administrative Details	17
Independent	Auditor's Report tothe Trustees and Members	18
Consolidated	Statement ofFinancial Activities	21
Consolidated	and Charity Balance Sheets	22
Consolidated	Cash Flow Statement	23
Notes tothe	Financial Statements	24

			Notes	Unrestricted	Restricted	Total Funds	Tota I Funds
				Funds	Funds
				2020	2020	2020	2019
income from
Donations, membership	and	legacies		11237/ 228		11237/ 228	1/ 217/463
Charitable activities				162/079	196,871	358,95o	590,285
Other trading activities				97/005		97/005	161,543
Investments				8,653		8,653	1/137
Other income				36,663		36,663	35/102
Total				1,541,628	196/871	1,738,499	2/005/530
Expenditure
Raising funds				6s4,4ss		6s4,4ss	645,711
Charitable activities				996,001	175/749	1/171/750	1,408,124
Total				1650 456	175/749	1,826,2os	2,o53,835
Net Income/(Expenditure)				(1o8,828)	21/122	(87,7o6)	(48,3o5)
Transfers between funds				28 041	(28,o41)
Net movement in funds				(So,787)	(6,g1g)	(87,7o6)	(48,3o5)
Net gains on investments			12	79/573		79/573
				(1,214)	(6,g1g)	(8,133)	(48,3o5)
Actuarial gains/(losses)	on	defined
benefit pension schemes			17	(S47,46S)		(S47,46S)	(17o,244)
				(S48,679)	(6,g1g)	(555,598)	(218,54g)
Reconciliation offunds
Total funds brought forward				37,75o	118,959	156,709	375,258
Total funds carried forward			18	(510929)	112040	(398,88g)	156709


AS AT 3 I DECE	MBE	R 2020				Company	Number 02I88402
				Group		Charity
				2020	201.9	2020	2019
			Notes		f
Fixed assets
Tangible fixed assets				119/574	2/001	»9/574	2/001
Investments			12	1,375,280		1,375,289
				1,494,854	2/001	1/494/863	2/010
Current assets
Debtors			13	131/547	129/144	156,576	134,960
Cash at bank and	in hand			509/319	2,355,283	482,959	2,346,051
				64o,866		639,535	2,481,011
Creditors: Amounts		falling
due within one year			14	(398,442)	(395/345)	(397/120)	(391,938)
Net current assets				242,424	2,o8g,o82	242/415	2,089,073
Tota Iassets less	current
liabilities				1,737,278	2,091,083	1,737,278	2/091/083
Creditors: Amounts		falling
due after more than one year			16	(38,881)	(41,893)	(38,881)	(41,893)
Provisions for liabilities
			17	(2,097,286)	(1,892,481)	(2,097,286)	(1,892,481)
Net assets				(3g8,88g)	156/709	(398/88g)	156709
Reserves			18
Restricted funds				112/040	118,959	112/040	118959
Unrestricted funds:
-designated fund					120/000		120,000
-other charitable	funds			(510/929)	(82,25o)	(510/929)	(82,25o)
				(3g8,88g)	156,709	(398,889)	156709

				2020	2019
			Notes
Cash flows from operating activities
Net cash provided by operating activities			19	(426,o51)	(116,g88)
Cash flows from investing	activities
Interest income				8,653	1i137
Proceeds ofassets held for sale					2,362,500
Purchase oftangible fixed	assets			(132,859)
Proceeds from sale ofinvestments				894,611
Purchase ofinvestments				(2,1go,318)
				(1i419'913)	2,363,637
Cash flows from financing	activities:
Repayments ofborrowing					(358,o74)
					(358,o74)
Change in cash and cash equivalents		in the year		(3.,845,964)	1,888,575
Cash and cash equivalents	atthe beginning ofyear			2,355,283	466,7o8
Cash and cash equivalents	atthe end ofthe year			509'319	2,355,283
Analysis ofcash and cash equivalents				31 December	31 December
				2020	2019
Cash and cash equivalents	atthe end	ofthe year		509'319	2,355,283
The notes on pages 24to 3g form part ofthese financial			statements.

annually. They are amended	annually. They are amended	when	when	when		necessary	necessary	to reflect current	to reflect current	estimates,	on technological
advancement, future investments,				economic utilisation					and the physical condition ofthe assets. See note
11for the carrying amount ofthe			fixed			assets, and note			1(g)forthe	useful economic lives for each class of
assets.
Net income/(expenditure)		for		the		year:					2020	2019
This isstated after charging:
Depreciation on owned tangible fixed							assets				15,286	13,616
Operating lease rentals —Plant				and		machinery					4,116	Si410
Interest payable on bank	loans			and		overdrafts						8,g67
Auditors' remuneration			-	audit		services		(Charity: z8,293)			8,2g3	8,855
Income from Donations,	Membership						and Legacies
											Total	Total
								Unrestricted		Restricted	Funds	Funds
									Funds	Funds	2020	2019
Donations and gifts									202,690		202,6go	139,844
Legacies									296,245		296,245	395i140
Membership									588,521		588,521	567,798
Gift aid recovery									149i772		149i772	114,681
									1,237,228		1,237,228	1217,463
Income from Charitable	Activities
											Total	Total
								Unrestricted		Restricted	Funds	Funds
									Funds	Funds	2020	2019
Fees for gardening projects									69,514		69,514	186,411
Government and public	authority				payments				92,565	6o,ooo	152,565	233,627
Charitable grants										136I871	1361871	168,344
Admissions												1igo3
									162,079	196871	358,95o	590,285

	Income from Other	Income from Other	Trading Activities	Trading Activities
							Total	Total
					Unrestricted	Restricted	Funds	Funds
					Funds	Funds	2020	2019
	Income from trading		activities		89,7SS		89,7SS	62,288
	Rental income							99/255
	Sponsorship				7/25o		7/250
					97/005		97(«5	I543
6.	Expenditure	on Raising Funds
					Activities	Support	Total	Total
					undertaken	COStS	Funds	Funds
					directly	(Note 8)	2020	2019
					f	E		f
	- Membership				262,234	150,78g	413/o23	388,974
	—Fundraising	and publicity			94,366	90/757	185/123	219/123
	-Other trading activities				32/470	23,839	56,309	37,614
					389/070	265 385	6s4,4ss	645/711
	Expenditure	on Charitable		Activities
					Activities	Support	Total Funds	Total Funds
					undertaken	costs	2020	2019
					directly	(Note 8)
					f	E
	- Education	and training			451,969	10g,758	561,727	839,641
	- Heritage Seed Library				285,262	56 154	341/416	244/»7
	- Research				74,116	8,602	82,718	61,590
	-Ryton Gardens				155,718	30/171	185/889	262,766
					967,06S	204/685	1/171/750	1I408I124

Analysis of	Support	Support	Costs
				Governance	IT&	Premises	Total	Total
				&Finance	Human		Support	Support
					Resources		costs	costs
							2020	201.9
- Membership				125/111	16,g48	8,73o	15o,78g	14o,836
- Fundraising	and publicity			82,155	4/237	4,365	90/757	132/112
-Other trading		activities		15(237	4/237	4,365	23,839	19,484
- Education	and	training		28,74o	63,558	17,460	109758	185,58g
—Heritage Seed		Library		4/413	21,186	30(555	56 154	67,038
- Research					4/237	4,365	8,6o2	14(377
- Ryton Gardens					12/711	17,460	30/171	36,796
				255,656	127/114	87/300	470/070	596/232
Basis ofApportionment			ofSupport Costs

Analysis ofTrustee and	Staff Remune	ration
				2020	2019
The aggregate payroll	costs were:
Wages and salaries				885,g8o	971(132
Social security costs				67,o47	73,63o
Employer's contribution	to defined contribution		pension scheme	531001	61,653
Operating costs ofdefined benefit pension scheme				75,699	70,146
				1081727	1176561
The average number of	staff employed	by the	group during the financial year amounted to:
				No.	No.
Total number ofstaff:
Raising Funds				3
Charitable Activities				27	27
Support Staff				14	18
				44	46

				Notes	Unrestricted	Restricted Funds	Total Funds
					Funds
					2019	201.9	2019
					f	f
Income from
Donations, membership			and		1/217/402	61	1,217463
legacies
Charitable Activities					382,967	207/318	590,»5
Other trading	activities				161,543		163.,543
Investments					1/137		1/137
Other income					35/102		35/102
Total					1/798/ 151	207/379	2/005/530
Expenditure
Raising funds					645,711		645,711
Charitable activities					1,193,783	214/341	1,408,124
Total					1.,839,494	214/341	2,o53,835
Net Income/(Expenditure)					(41/343)	(6,962)	(48,3o5)
Transfers between		funds			55/075	(55,o75)
Net movement	in funds				13/732	(62,o37)	(48,3o5)
Actuarial gains/(losses)			on defined
benefit pension	schemes			17	(170,244)		(17o,244)
					(156,512)	(621037)	(218549)
Reconciliation	offunds
Total funds brought		forward			194/262	180,996	375,258
Total funds carried		forward		18	37/750	118/959	156709

Tangible Fixed Assets	Tangible Fixed Assets
				Fixtures & Fittings
				Ik
				Total
Group and Charity
Cost orValuation
At 1January 2o2o				100(517
Additions				132,859
Disposals
At 31December 2020				233,376
Depreciation
At 1January 2o2o				(g8,516)
Depreciation charge				(15,286)
Disposals
At 31December 2o2o				(113,8o2)
Net BookValue
31 December 2o2o				»9I574
31December 2019				21001
Investments
				2020	2019
Investments managed		by Investment	Manager		f
Market Value
At 1January 2o2o
Additions				2I190I318
Disposals at opening	market value			(894,611)
				1I295I707
Realised and unrealised		profit on investments		79I573
At 31December 2020				1375 28o

Fixed asset investment	Fixed asset investment	split
Equities			638,692
Fixed Interest —UK			1521812
Property			33I751
Alternatives			105r907
Sterling Liquidity	Funds		4»1773
			1i352i935
Cash held by Investment		Manager	22I345
			1,375,280

							Market	Value		%of	Portfolio
ASI Ethical Corp BD				UK Corporate		Bonds	82,632				6 11%
ASI Standard	Liquidity	Sterling	Fund	Liquidity	Fund		424773				31.17%
Investments	in Group Undertakings
								Group		Charity
							2020		2019	2020	2019
							f
Shares in group undertakings

The results for	this subsidiary were as follows:
		2020	2019
Profit and Loss account
Turnover		20,444	7I059
Cost ofsales		(2,o52)	(3I327)
Gross profit/(loss)		18I392	3I732
Other income		5o,82o	155I135
Administrative	and other expenses	(25I730)	(116,928)
Net profit prior	to gift aid tothe Charity	43,482	41I939

Investments in group undertakings	comprise:
Organic Enterprises Limited
Garden Organic Limited

Debtors
	Group		Charity
	2020	201.9	2020	2019
Trade debtors	79,6o3	68,717	64,312	51I740
Amount owed from group undertakings			4OI320	22I793
Otherdebtors	39I324	31,o82	39I324	31,082
Prepayments	121620	29I345	12,62o	29I345
	131I547	1291144	156576	134960

Creditor	s: amounts falling due within one ye	ar
		Group		Charity
		2020	2019	2020	2019
Trade creditors		6o,682	82,863	59,758	82,839
Amount	owed to group undertakings
Other taxation and social security		29/603	32/526	29/603	30/341
Other creditors		17,782	17/933	17,782	17/933
Accruals	and deFerred income (note 15)	290/375	262,o23	289,975	260/823
		39 /44	395/345	397/»0	391,938
Deferred	income
Deferred	income at 1January 2020	274,596
Released	during year	(498,753)
Deferred	in 2o2o	499/432

				Group		Charity
				2020	2019	2020	2019
							f
	Deferred income due		within one year	236,394	232/7o3	236,394	232/703
	Deferred income due		after more than one year	38,881	41,893	38/881	41,893
				275/275	274,596	275/275	274,596
16.	Creditors: amounts	falling due after more than one year
				Group		Charity
				2020	2019	2020	2019
	Accruals and deferred		income (note 15)	38,881	41,893	38,881	41,893
				38,881	41893	38,881	42 893

The total cost recognised in	the period was as follows:
		2020	2019
Contributions paid		116,361	1o1I557
Net interest		(4o,662)	(31,411)
Recognised in net income/expenditure		75,699	7o,146
Orphan settlement payment	on segregation	302,000
Pension shortfall		245,465	17oi244
Recognised in other gains/losses		547,465	170I244
Total cost recognised		623,164	240'390
Amounts recognised in the	balance sheet are as follows:
		2020	201.9
Market value ofassets held	at 1September	1,905,000
Liabilities to members at 1September		(4,o4o,ooo)
Contributions paid		37I714
Net present value offuture	contributions		(1,892,481)
Deficit		(2,og7,286)	(1,892I481)

The principal actuarial a	ssumptions used were as follows:
		2020
Discount rate		o.690pa
RPI inflation		3.3%pa
CPI inflation		2.59'0 pa
Revaluation ofdeferred	pensions	2.5%pa
Pension increases —post	1g88 GMP	2.2%pa
Pension increases —1997-2005pension		2.5%pa
Pension increases-post	2oos	2.o%pa

Reserves
				Designated	Other		Restricted	Total
				Fund	charitable		Funds	Funds
					funds		(note 21)
Fund balances at31December			2019	120,000	(82/250)		118959	156,709
Surplus/(deficit) for	year				(S48,679)		(6,g1g)	(sss,s98)
Transfer to/(from) designated		fund		(120,000)	120IOOO
Fund balances at31December			2o2o		(510i929)		112I040	(398'889)
Reconciliation ofnet income/expenditure				to net cash flow from operating			activities
							2020	2019
								f
Net income for reporting period			(as per the	statement offinancial activities)			(8,133)	(48,305)
Adjustments for:
Depreciation							15 286	13 616
Profit on sale oftangible fixed		assets						(13,726)
Gains on investments							(79'573)
Interest received							(8,653)	(1137)
Decrease/(increase)	in stock							1I934
Decrease/(increase)	in debtors						(2,4o3)	86,33o
Increase/(decrease)	in creditors						85	(124,290)
Increase/(decrease)	in defined	benefit pension scheme liability
(excluding actuarial	gains/losses)						(342,66o)	(31,411)
Net cash provided by operating			activities				(426,o51)	(116,g88)
Restricted funds —current year				Balance at	Movement	in Resources		Balance at

			1January	1January	&			31 December	31 December
			2020		Transfers			2020
Projects:
Social Therapeutic Horticulture			12,767				(2,878)	g,88g
Children in Need			12/092		16,136		(7,536)	20,692
Online Training National	Pilot		39/900				(34,871)	5/029
Cumbria Master Composter			13/594		36,000		(27,715)	21,879
Cambridge Home Composting				125			(125)
Growing Communities			40,481		120/735		(114,176)	47/040
Edible Gardens					24/000		(16,48g)	7/511
Total restricted funds			118959		196871		(203/790)	112I040
Restricted funds —prior	year		Balance at		Movement	in	Resources	Balance at
			1January			&		31December
			201.9		Transfers			201.9
Projects:
Growing for Health							(4,778)
Move More, Eat Well				10,849	19,598		(30/447)
Growing Enterprise				4,817	(4,817)
Food Growing in Schools	—London			6,305	10		(6,315)
Project Learning Garden				6,215	(soo)		(s,71s)
Social Therapeutic Horticulture					15464		(2,697)	12/767
Tackling Re-offending				15/011			(15,011)
Children in Need				5,831	16,016		(9,7ss)	12,092
Towards Nature	with	Mutual
Understanding				52	1,706		(1,758)
Ryton Gardens Improvements				5,962	(s,g62)
Thyme ToBe				1,16o	(1,16o)
Online Training National	Pilot			S4,8So			(w,gso)	39/900
Southwark Master Gardener				27,769			(27,769)
Cumbria Master Composter				9/935	36,000		(32/341)	13/594
Cambridge Home Composting				2,436			(2,311)		125
Growing Communities				25,026	131/024		(115,569)	4o,481
Total restricted funds			f180/996		&207/379		(f269,416)	F118,959

Southwark Master Gardener	—A Master Gardener/Food Buddy programme	—A Master Gardener/Food Buddy programme	—A Master Gardener/Food Buddy programme	engages with residents ofthe	engages with residents ofthe
London borough ofSouthwark to support food at home or in community			gardens.	Target beneficiaries	are those
on low incomes/at risk offood poverty or who have been food bank users.
Analysis ofnet assets between funds
	Unrestricted	Restricted		Total	Total
	Funds	Funds		Funds	Funds
				2020	2019
Fund balances at 31December 2o2o
are represented by:
Tangible fixed assets	119/574			»9/574	2,001
Investments	1/375/280			1,375,280
Current assets	528,826	1121040		64o,866	2,484,427
Current liabilities	(398,442)			(398,442)	(395/345)
Creditors amount falling due	after
more than one year	(38,881)			(38/881)	(41,893)
Provisions for liabilities	(2,og7,286)			(2,og7,286)	(1,892,481)
Total net assets	(510/929)	112/040		(3g8,88g)	156709

At 31December 2o2o the total f leases are as follows:	uture minimum lease payments for the Gr	oup under non-cancella	ble operating
		2020	2019
Expiry:
Within one year		4,»6	4/»6
Between one and five years		2/734	6,861
		6,85o	10/977
Capital commitments
There were capital commitments	ofanil (2o1g:anil) atthe year end.