2021-12-31-accounts - The Henry Doubleday Research Association

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	Pages
Board of Trustees' Annual Report
Objectives and Activities	2
Achievements and Performance	4
Plans for Future Periods	9
Financial Review	3.0
Structure, Governance and Management	12
Reference and Administrative Details	16
Independent Auditor's Report to the Trustees and Members	17
Consolidated Statement of Financial Activities	20
Consolidated and Charity Balance Sheets	21
Consolidated Cash Flow Statement	22
Notes to the Financial Statements	23

Patron:	Registration Numbers
H.R.H. The Princeof Wales, KG, KT, GCB	Charity Commission in England & Wales 298104
	Office of the Scottish Charity Regulator SC046767
President:	Companies House 02188402
Professor Tim Lang, PhD, FFPH
	Registered office:
Vice−presidents:	Ryton Organic Gardens
Raymond Blanc	Ryton on Dunsmore
Susan Hampshire	Coventry
Thelma Barlow	CV8 3LG
Ambassadors:	Charity Advisors:
Prof. Chris Baines
Rosie Boycott	Auditors:
Bob Flowerdew	Azets Audit Services Ltd
Alys Fowler	Chartered Accountants
Caroline Holmes	ed Floor, Regis House
Alan Romans	45 King William Street
Bob Sherman	London
James Wong	EC4R 9AN
The Board of Trustees:	Solicitors:
Margaret Eyre (Chair)	Ladders Solicitors LLP
Dr Andrew Collins (Vice−Chair)	Number_Ten_
Keith Arrowsmith (Treasurer)	Elm Court
Steve Howell	Stratford upon Avon
Adam Alexander	Warwickshire
Marjan Bartlett−Freriks	CV37 6PA
Liam Gaffney
David Robinson	Bankers:
Amanda Sandford	Lloyds TSB
Dr Emma Sayer	Southpoint House
	Harcourt Way
	Meridian Business Park
Chief Executive:	Leicester
Fiona Taylor	LE29 2WF

AS A T 31 DECEMBER 2021	AS A T 31 DECEMBER 2021					Company Number	02188402
			Notes	Unrestricted	Restricted	Total Funds	Total Funds
				Funds	Funds
				2021	2021	2021	2020
							Restated
Income from
Donations, membership and legacies			3	1/395,873	20,000	1,415,873	1,237,228
Charitable activities			4	175,587	34,346	209,933	358,950
Other trading activities			5	72,507		72,507	97,005
Investments				22,120		22,120	8,653
Other income				3,304		3,304	36,663
Total				1,669,391	54,346	1,723,737	1,738,499
Expenditure
Raising funds			6	737,650		737,650	722,471
Charitable activities			7	957,790	3.02,530	1,060,320	1,180,394
Total				1,695,440	102,530	1,797,970	1,892,865
Net Income/(Expenditure)				(26,049)	(48,184)	(74,233)	(154,366)
Transfers between funds				34,936	(34,936)
Net movement in funds				8,887	(83,120)	(74,233)	(154,366)
Net gains on investments			12	184,346		164,346	79,573
				173,233	(83,120)	90,113	(74,793)
Actuarial gains/(losses)	on	defined
benefit pension schemes				324,000		324,000	(446,000)
				497,233	(83,120)	414,113	(520,793)
Reconciliation of funds
Total funds brought forward				342,357	3.3.2,04.0	454,397	975,190
Total funds carried forward			2.8	839,590	28,920	868,510	454,397

CONSOLIDATED A N	CONSOLIDATED A N	D CHARITY	BALAN	CE SHEETS	CE SHEETS
AS A T 31 DECEMBER 2021				Company Number 02188402
		Group		Charity
		2021	2020	2021	2020
			Restated		Restated
	Notes
Fixed assets
Tangible fixed assets	11	109,505	119,574	109,505	119,574
Investments	12	1,529,894	1,375,280	1,529,703	1,375,289
		1,639,199	1,494,854	1,639,208	1,494,863
Current assets
Debtors	13	162,527	131,547	184,039	156,576
Cash at bank and in hand		355,007	509,319	332,738	482,959
		517,534	640,866	516,777	639,535
Creditors: Amountsfalling
due within one year	14	(387,677)	(398,442)	(386,929)	(397,120)
Net current assets		129,857	242,424	129,848	242,415
Total assets less current
liabilities		1,769,056	1,737,278	1,769,056	1,737,278
Creditors: Amounts falling
due after more than one	3.6	(38,546)	(38,881)	(38,548)	(38,881)
year
Provisions for liabilities	17	(862,000)	(1,244,000)	(862,000)	(1,244,000)
Net assets		868,53.0	454,397	868,510	454,397
Reserves	18
Restricted funds		28,920	112,040	28,920	112,040
Unrestricted funds:
−other charitable funds		839,590	342,357	839,590	342,357
		868,510	454,397	868,53.o	454,397

		2021	2020
			Restated
	Notes	z
Cash flows from operating activities
Net cash provided by operating activities	19	(168,416)	(426,051)
Cash flows from investing activities
Interest income		22,120	8,853
Purchase of tangible fixed assets		(17,948)	(132,859)
Proceeds from sale of investments		947,123	894,611
Purchase o f investments		(937,191)	(2,190,318)
		14,104	(1,419,913)
Change in cash and cash equivalents in the year		(154,312)	(1,845,964)
Cash and cash equivalents at the beginning of year		509,319	2,355,283
Cash and cash equivalents at the end of the year		355,007	509,319
Analysis of cash and cash equivalents		31 December	31 December
		2021	2020
Cash and cash equivalents at the end of the year		355,007	509,319

Net income/(expenditure) for the year:	2021	2020
This is stated after charging:
Depreciation on owned tangible fixed assets	28,107	15,286
Operating lease rentals−Plant and machinery	4,116	4,116
Auditors' remuneration −audit services (Charity: £9,110)	10,300	8,293

Incomefrom Donations, Membership and L	egacies
			Total	Total
	Unrestricted	Restricted	Funds	Funds
	Funds	Funds	2021	2020
	f	f	I	f
Donations and gifts	154/237	20,000	174,237	202,690
Legacies	511,764		511,764	296,245
Membership	585,822		585,822	588,522
Gift aid recovery	144,050		144,050	149,772
	1,395,873	20,000	1,415,873	1,237,228
Income from Charitable Activities
			Total '	Total
	Unrestricted	Restricted	Funds	Funds
	Funds	Funds	2021	2020
	£	£	£	£
Fees for gardening projects	52,889	−	52,889	69,514
Government and public authority payments	122,698	18,978	142,676	152,565
Charitable grants	−	15,368	15,368	2.36,871
	175,587	34,346	209,933	356,950
Income from Other Trading Activities
			Total	Total
	Unrestricted	Restricted	Funds	Funds
	Funds	Funds	2021	2020
	£	f	£	£
Income from trading activities	71,107		71,107	89,755
Sponsorship	1,400		1,400	7,250
	72,507		72,507	97,005

Expenditure on Raising Fun	ds
		Activities	Support	Total	Total
		undertaken	costs	Funds	Funds
		directly	(Note 8)	2 0 2 1	2020
					Restated
		f	E	f	f
−Membership		256,476	155,034	411,510	445,645
−Fundraising and publicity		146,466	133,082	279,548	•206,544
−Other trading activities		26,156	20,436	46,592	60,282
		429,098	308,552	737,650	722,471
Expenditure on Charitable	Activities
		Activities	Support	Total Funds	Total Funds
		undertaken	costs	2 0 2 1	2020
		directly	(Note 8)		Restated
		1	E	f	i
−Education and training		409,965	63,618	473,583	569,222
−Heritage Seed Library		296,328	47,122	343,450	342,566
−Research		78,4.21	6,984	85,405	82,718
−Ryton Gardens		133,190	24,692	157,882	185,889
		917,904	142,416	1,060,320	2,180,394
Analysis of Support Costs
	Governance	IT & Human	Premises	Total	Total
	& Finance	Resources		Support	Support
				COStS 2021	Costs 2020
					Restated
	1		1
−Membership	137,822	9,731	7,481	155,034	283,422
−Fundraising and publicity	122,854	6,488	3,740	133,082	112,178
−Other trading activities	13,452	3,244	3,740	20,496	60,282
−Education and training		48,657	14,961	63,618	117,252
−Heritage Seed Library	4,720	16,220	26,282	47,122	57,305
−Research		3,244	3,740	6,984	8,602
−Ryton Gardens		9,731	14,962	24,692	30,171
	278,848	97,315	74,805	450,968	569,201

Analysis of Trustee and Staff Remuneration
		2021	2020
			Restated
The aggregate payroll costswere:
Wages and salaries		888,360	885,980
Social security costs		72,607	67,047
Employer's contribution to defined contribution pension scheme		56,024	53,001
Operating costs of defined benefit pension scheme		58,000	(26,000)
		1,073,991	980,028
The average number of staff employed by the group during	the financial year amounted to:
		No.	No.
Total number of staff:
Raising Funds		2	3
Charitable Activities		29	27
Support Staff		14	14
		45	44

1 0 . Comparative for the Statement of Financial Activities (Restated)	1 0 . Comparative for the Statement of Financial Activities (Restated)	1 0 . Comparative for the Statement of Financial Activities (Restated)	1 0 . Comparative for the Statement of Financial Activities (Restated)	1 0 . Comparative for the Statement of Financial Activities (Restated)
			Notes	Unrestricted	Restricted Funds	Total Funds
				Funds
				2020	2020	2020
					z
Income from
Donations, membership and legacies			3	1,237,228		1,237,228,
Charitable activities			4	262,075	296,872	358,950
Other trading activities			5	97,005		57,005
Investments				8,653		8,653
Other income				36,663		36,663
Total				1,541,628	196,871	1,738,499
Expenditure
Raising funds			6	712,471		712,471
Charitable activities			7	1,004,645	275,749	1,180,394
Total				1,717,116	175,749	1,892,865
Net Income/(Expenditure)				(175,488)	21,122	(154,386)
Transfers between funds				28,041	(28,041)
Net movement in funds				(147,447)	(6,919)	(154,366)
Net gains on investments			12	79,573		79,573
				(67,874)	(6,919)	(74,793)
Actuarial gainsi(losses)	on	defined	benefit
pension schemes			17	(446,000)		(446,000)
				(513,874)	(6,919)	(520,793)
Reconciliation of funds
Total funds brought forward				856,231	218,959	975,190
Total funds carried forward			18	342,357	112,040	454,397

			Tangible Fixed Assets
				Fixtures & Fittings
				Total
			Group and Charity
			Cost or Valuation
			At 1 January2021	233,376
			Additions	17,948
			Disposals
			At 31 December 2021	251,324
			Depreciation
			At 1 January2021	(113,802)
			Depreciation charge	(28,017)
			Disposals
			At 31 December 2 0 2 1	(141,819)
			Net Book Value
			31 December2021	109,505
			31 December 2 0 2 0	119/574
1	2	.	Investments
				2 0 2 1	2020
			Investments managed by Investment Manager
			Market Value
			At i January 2021	1,375,280
			Additions	937,191	2,190,318
			Disposals at opening market value	(947,123)	(894,611)
				1,365,348	1,295,707
			Realised and unrealised profit on investments	184,348	79,573
			At 31 December 2021	1,529,694	1,375,280

	2 0 2 1	2020
Fixed asset investment split
Equities	989,387	638,692
Fixed Interest—UK	157,290	252,822
Property	55,745	33,751
Alternatives	186,285	105,907
Sterling Liquidity Funds	ioo,000	421,773
	1,488,707	1,352,935
Cash held by Investment Manager	40,987	22,345
	1 , 5 2 9 , 6 9 4	1,375,280

	Market	% of	Market	% of
	Value	Portfolio	Value	Portfolio
ASI Ethical Corp BD	123,665	8.31%	82,632
(UK Corporate Bonds)
ASI Standard Liquidity Sterling Fund	too,000	6.72%	421,773	31.17%
(Liquidity Fund)

							Charity	Charity
				2	0 2 1	2 0 2 0	2 0 2 1	2020
					£	f	f	f
Shares	in	group	undertakings					9	9

The results for this subsidiary were as follows:
	2021		2020
	f		f
Profit and Loss account
Turnover			20,444
Cost of sales			(2,052)
Gross profit/(loss)		−	18,392
Other income	56,387		50,820
Administrative and other expenses	(20,328)		(25,730)
Net profit prior to gift aid to the Charity	36,059		43,482
Net assets at 31 December 2021.		7	7

Organic	Enterprises Limited	7	7
Garden	Organic Limited	2	2
		9	9

	Group		Charity
	2 0 2 1	2 0 2 0	2 0 2 1	2020
	f	f	f	f
Trade debtors	54,165	79,6423	47,244	64,312
Amount owedfromgroup undertakings			37,212	40,320
Other debtors	87,784	39,324	79,005	39,324
Prepayments	20,578	12,620	20,578	12,620
	1 6 2 , 5 2 7	131,547	184,039	156,576

14.	Creditors: amounts falling due within one year
		Group			Charity
		2021	2020		2021	2020
	Trade creditors	77,817	60,682		77,817	59,758
	Amount owed to group undertakings			.	2	2
	Other taxation and social security	15,136	29,603		15,136	29,603
	Other creditors	18,572	27,782		28,572	17,782
	Accruals and deferred income (note 15)	276,152	290,375		275,402	289,975
		387,677	398,442		386,929	397,120
15.	Deferred income
	Deferred income at i January 2 0 2 1	275,275
	Released during year	(469,322)
	Deferred in 2 0 2 1	446,076
	Deferred income at 32 December 2021	252,039
		Group			Charity
		2021	2020		2021.	2020
	Deferred income due within one year	213,493	236,394		213,493	236,394
	Deferred income due after more than one year	38,546	38,881		38,546	38,882
		252,039	275,275		252,039	275,275
16.	Creditors: amounts falling due after more than one year
		Group			Charity
		2 0 2 1	2 0 2 0		2 0 2 1	2020
		1
	Accruals and deferred income (note 15)	38,546	38,881		38,546	38,881
		38/456	38,881		38,456	38,881

The total cost recognised in the year was as follows:
	2021	2020
		Restated
Contributions paid	123,000	118,000
Administrative expenses	(51,000)	(62,000)
Settlements in respect of orphan debt		(62,000)
Net interest	(14,000)	(20,000)
Recognised in net income/expenditure	58,000	(26,000)

Pension revaluation	(324,000)	(446,000)
Recognised in other gains/losses	324,000	(472,000)
Total cost recognised	(.382,000)	(472,000)
Orphan settlement payment on segregation		302,000
Change in liability	( 3 8 2 , 0 0 0 )	(170,000)
Amounts recognised in the balance sheet are asfollows:
	2021	2020
	z	Restated
Market value of assets held at 31 December	2 , 1 9 7 , 0 0 0	1,993,000
Liabilities to members	( 3 , 0 5 9 , 0 0 0 )	(3,237,000)
Deficit	(862,000)	(1,244,000)
The principal actuarial assumptions used were as follows:
	2021	2020
		Restated
Discount rate	1.80% pa	1.20% pa
RPI inflation	3.45% Pa	2.95% pa
CPI inflation	2.95% pa	2.45% pa
Mortality	2.25% pa, (yob)	1.25% pa, (yob)
Revaluation of deferred pensions	2.95% pa	2.45% pa
Pensions Increases
—pre 1988 GMP	Nil	Nil
—post 1988 GMP	2.45% pa	2.15% pa
—pre 1997_excess_	Nil	Nil
—1997−2005 pension	2.90% pa	2.45% pa
—post 2005	2.20% pa	2.95% pa
Life Expectancy (in years)	Males Females	Males Females
For an individual aged 65 in 2021	21.9 24.3	21.9 24.3
At age 65 foran individual aged 45 in 2021	23.2 24.7	23.3 25.7

	Unrestricted	Restricted	Total
	funds	Funds	Funds
		(note 2.2.)
Fund previously reported at 1 January 2020	37,750	118,959	156,709
Restatement in respect ofpension scheme liability	818,482		818,481
New balance as at 1 January2020	858,231	118,959	975,190
Restated deficit in 2020	(513,874)	(6,929)	(520,793)
Fund balances at 31 December2020	342,357	112,040	454,397
Surplus/(deficit) foryear	497,233	(83,120)	414,113
Fund balances at 31 December 2021	839,590	28,920	868,510

Reconciliation of net income/expenditure to net cash flow from operating ac	tivities
	2021	2020
		Restated
Net income for reporting period (as per the statementof financial activities)	90,113	(74,793)
Adjustments for:
Depreciation	28,017	15,286
Profit on sale of tangible fixed assets
Gains on investments	(164,346)	(79,573)
Interest received	(22,120)	(8,653)
Decrease/(increase) in debtors	(30,980)	(2,403)
Increase/(decrease) in creditors	(11,1o°)	85
Increase/(decrease) in defined benefit pension scheme liability
(excluding actuarial gains/losses)	(58,000)	(276,000)
Net cash provided by operating activities	(168,416)	(428,051)

Restricted funds −current year	Balance at	Movement in Resources	Movement in Resources	Movement in Resources	Movement in Resources	Balance at
	1January			&		31 December
	2 0 2 1			T r a n s f e r s		2021
	£	E			f	f
Projects:
Social Therapeutic Horticulture	9,889				(6,617)	3,272
Children in Need	20,692				(5,720)	14,972
Online Training National Pilot	5,029				(5,029)
Cumbria Master Composter	21,879				(21,879)
Growing Communities	47,040				(47,040)
Edible Gardens	7,511	15,368			(22,580)	299
For Peat's Sake		2 0 , 0	0	0	( 1 5 , 1 9 5 )	4,805
Tyfi Dyfi Project		18,978			(13,406)	5,572
Total restricted funds	112,040	54,346			437,460	28,920
Restricted funds −prior year	Balance at	Movement in Resources				Balance at
	1January			&		31 December
	2 0 2 0		T	r a n s f e r s		2020
	f	E			f	f
Projects:
Social Therapeutic Horticulture	22,767				(2,878)	9,889
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			(16,489)	7,511
Total restricted funds	118,959	196,871			( 2 0 3 , 7 9 0 )	112,040

	Unrestricted	Restricted	Total	Total
	Funds	Funds	Funds	Funds
			2021	2020
				Restated
Fund balances at 31 December 2021
are represented by:
Tangible fixed assets	109,505		109,505	129,574
Investments	1,529,694		1,529,694	1,375,280
Current assets	488,624	28,920	517,534	640,866
Current liabilities	(387,677)		(387,677)	(398,442)
Creditors amount falling due after
more than one year	(38,546)		(38,546)	(38,881)
Provisions for liabilities	(862,000)		(862,000)	(1,244,000)
Total net assets	839,590	28,920	868,510	454,397