**.** .. ## **Willoughbridge Garden Trust** (Registered charity number 522695) ## **Trustee’s Report and Financial Statements** ## **for the year ended 31 December 2020** |**Page**|**Contents**| |---|---| |2|Charity Reference and Administrative Information| |3-4|Curator’s Report| |5-7|Trustee’s Annual Report| |8|Independent Examiner’s Report| |9|Statement of Financial Activities| |10|Balance Sheet| |11|Statement of Cash Flows| |12-24|Notes to the Accounts| ## **Willoughbridge Garden Trust Charity Reference and Administrative Information for the year ended 31 December 2020** The Trust presents its’ report together with the statement of accounts for the year to 31 December 2020. **Full name** Willoughbridge Garden Trust **Registered charity number** 522695 ## **Trustee** Willoughbridge Garden Trust Ltd is the sole corporate trustee. The directors/trustees of Willoughbridge Garden Trust Ltd during the year were: Sir B E F Fender Chairman Mrs A E Fisher Mrs A Cornes Mrs J A Arkle Mr J R Ravenscroft Mr N Bragg resigned 3 June 2020 Mr A Dean appointed 10 July 2020 Mr K Atkey Mr C I Barcroft Mr T Edwards Mr D J Morton resigned 7 December 2020 Mrs J Hughes Mr T Kyriacou ## **Garden Curator** Ms K Robey ## **Principal address** The Dorothy Clive Garden Willoughbridge Market Drayton Shropshire TF9 4EU ## **Independent Examiner** Daryl Denson ACMA VAST The Dudson Centre Hope Street Stoke-on-Trent ST1 5DD ## **Bankers** Santander Bridle Road Bootle Merseyside L30 4GB ## **Investment Advisors** Castlefield Investment Partners LLP 1 Portland Street Manchester M1 3BE 2 ## **Willoughbridge Garden Trust Curator’s report For the year ended 31 December 2020** With the benefit of hindsight, and all things considered, 2020 has been another successful year at the Dorothy Clive Garden. We have enjoyed tremendous support from Trustees, funders, Friends of the Garden, volunteers and staff and have hopefully been able to give support during a very difficult year. The Garden itself was only closed during April and May and was able to reopen without the Tearoom on June 1[st. ] _The Old Drive 2020_ Improvements and developments within the garden have continued and due to tremendous commitment from staff and volunteers are on target for the year. The Old Drive project was completed in the spring with the planting of the second hedge and planned herbaceous borders. The area matured and bloomed in the early spring and was very well received when we reopened in June. _The Wedding border April 2020 showing some of the new signage granted by the Heritage Lottery Fund_ The major project for the winter of 2020-2021 is to improve and renovate the area around the pool. This was started over the autumn of 2020 and is expected to continue throughout much of 2021. This is again thanks to the contributions made by the Patrons scheme throughout the year – many thanks. Other smaller projects being undertaken in the garden include work in the edible woodland, Magnolia Walk and The Quarry area. Much of this work is only achievable because of the input from our volunteers. The hours donated in 2020 actually showed an increase on 2019 despite the garden having been closed for 2 months. January 2020 saw the official opening of the newly decorated Tearooms with Mrs. Dorothy Webb cutting the ribbon. Mrs. Webb was celebrating her 100[th] birthday and has been a regular visitor to the Tearooms for very many years. Unfortunately the garden and events were then curtailed due to Covid 19. We did manage to hold several weddings and pop up events in line with government directives with workshops and lectures moving on line. We are very grateful to the William Dean Foundation who recently funded a Laptop, a head camera and 12 months Zoom licence to enable more workshops and lectures. Thereby helping to meet our educational objectives. 3 Curntorfs rnport (conlinu•d) For th• y•ar •nd•d 31 D•¢•mkn 2020 The Plant Hunters Fair in August fell fortuitousty br us ￿d wa5 abse to go ahe*J on both as CIKI the Halhxteen event. P￿nIng is well under way lor a full progranme ol events in 2021. t￿rIng 2020 we tr￿￿ to make the garden as xcessible as possible to as mary wple 35 Fossible. This has Included opening during ts.mes we would ncvmalty be closed to enable a s* walk to Th8 Cknrothy CINe G*den ccrfrtinues to receNe furh*ng from m￿Y drfferent sourc wh￿h we we extremdy watoful. we likdy lo be thing dtsrnptu+ until * least Easter but wth ¢we￿ ¥KI mcAlem technology we look to a mlth more Fostr¥e kn)sptwe kn all fft 2021. loTkf K Rob•y Curator ## **Willoughbridge Garden Trust Trustee’s Annual Report for the year ended 31 December 2020** The Trustee presents their annual report and financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with Charities Statement of Recommended Practice (SORP): Accounting and Reporting by Charities (2019) applicable to charities preparing their accounts in accordance with FRS 102 effective from 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and they also comply with the Charities Act 2011. ## **Objects and aims** The principal object of Willoughbridge Garden Trust as set out with the Charity Commission are to provide - A memorial garden for the rest and recreation of the public and - The promotion of horticultural education for the benefit of students and the general public. The charity’s aims continue to be to maintain and enhance a garden inspired by the memory of the late Dorothy Clive to be used for the enjoyment and benefit of the public and to promote and support horticultural education for the continuing benefit of both students and the general public. The Dorothy Clive Garden covers approximately 12 acres. The principal strategies used by the charity to achieve its objectives are revised annually and set out in a formal five year plan. ## **Public benefit** The Trustee confirms that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Achievements and performance** The charity’s achievements for the year are set out in the Curator’s Report. ## **Management of the charity** This is vested in the Directors/Trustees of Willoughbridge Garden Trust Ltd who hold regular quarterly meetings and are involved in all major decisions regarding both the strategy and management of the garden. ## **Volunteers** The charity is indebted to the ‘Friends of the Garden’ and volunteers both for their regular financial support and in assisting with the maintenance and running of the Dorothy Clive Garden. We estimate that the value of volunteers’ time amounted to in excess of £ 57,750(2019 - £68,000). ## **Financial review** The Statement of Financial Activities is set out on page 9. Overall the charity made a net loss of £27,556 (before investment gains and losses) for the year ended 31 December 2020 (2019: £21,942 loss). Incoming resources totalled £296,232 (2019: £407 376). Investment income was £6,921(2019: £12,252). Investment losses amounted to £11,180 in the year (2019: £52,101 gain). Our investment portfolio was rebalanced by our advisor at the end of 2012 and our investments are now primarily invested for total gain rather than to maximise dividend income. We estimate that our result for the year has been adversely affected by around £5,000 as a result of this but are matched by a better overall performance of our investment portfolio. The number of visitors, including re-visits and children, was 17,963 (2019:28,082) which was approximately 37 % lower than in 2019. Resources expended totalled £323,788 a decrease of £105,530 on 2019. In accordance with Charities SORP (FRS 102) - Second edition October 2019, these have been split across our three principal activities. 5 ## **Willoughbridge Garden Trust Trustee’s Annual Report (continued) for the year ended 31 December 2020** Expenditure on charitable activities totalled £ 180,722 compared to £237,025 in 2019 and is detailed in note 7. Governance costs are no longer shown as a separate line on the Statement of Financial Activities in accordance with Charities SORP (FRS 102) - Second edition October 2019. The costs are allocated between expenditure on raising funds and charitable activities. The Trustee monitors the level of these costs on a regular basis. Support costs have been allocated across the charity’s principal activities in line with Charities SORP (FRS 102) - Second edition October 2019. Investment gains/losses in the year are split between realised and unrealised reserves relating to the extent of the monies withdrawn from the portfolio in the period. ## **Policy on reserves** The Trustee’s policy is to maintain free reserves sufficient to cover anticipated capital expenditure requirements and improvements to the collection of plants, shrubs and trees, to provide sufficient working capital to finance the charity’s operations during the winter months when the garden is closed on weekdays and to generate investment income and gains to help improve the sustainability of the garden. Free reserves amounted to approximately £483,000 on 31 December 2020 (2019: approximately £509,000). These are held as an income generation fund with the objective of realising a sufficient return of capital and income to enable the Trust to operate at an approximate break-even position. This policy over the last ten year period broadly achieved this objective. The level of admission fees is restricted by competition from other attractions and they are kept at a modest level in line with other gardens of a similar size and quality. Income from this source is insufficient to cover the cost of maintaining the garden to a high standard and the income from the charity’s investments is wholly used to cover the shortfall. ## **Investment policy** The charity’s investment policy has been formulated after taking full account of Part II of the Trustee Act 2000 and the advice of their investment managers. The policy seeks to achieve the efficient and prudent management of the charity’s investments with the aim of maximising the return on them. ## **Governing document** The Willoughbridge Garden Trust is an unincorporated body constituted by a conveyance and deed dated 12 April 1958, a supplemental deed dated 11 November 1958 as modified by a Scheme of the Secretary of State for Education and Science dated 8 June 1965 and by Schemes of the Charity Commissioners dated 11 August 1993 and 17 March 1998. The trustees of Willoughbridge Garden Trust Ltd are involved in all aspects of these procedures. ## **Governance** Procedures are in place to ensure that income, expenditure and performance are monitored, and that appropriate management information is prepared and reviewed regularly. The systems of internal controls are designed to provide reasonable assurances against material misstatement or loss. They include: - A strategic five year plan - An annual budget - Regular consideration of financial results - • Delegation of day to day management authority - Identification and management of risks. 6 Noughbrldge Garden Tntst TnMte•'$ Annual Report (continu•dl for the year ended 31 00￿mber 2020 AnNu•l wdlt Under dause 9 01 the conveya)ce ITrust C)eedl dated 12 April 1958 the Trustee resolved to dY3pense wrth the annu4 audit requirement and to ¢c¥ry>ty wth the Cha*y ConNntsgoner's rKffmal rules which require an Indewdent Examination for a eh*ty of our size. Trustees of the Wlloughbr* Garden Tntst Ltd we wwitsd fTOffl IM￿ to tsme to Televant eyrience and teehnul SUFWt to managernent team and to ass￿ wth the govemance of the charrty. All F(rtentsl 4yJntees *e eons*Jered by tre Board to fomally being appointed. The nsks to the charty ts exp￿Sed are rev￿Wed regularty. The major risks H)clude advetse Wealt￿ conditicffts whth have a detrimertal imp¥t on the nurtw of vtsitors to the gard￿ and volatilty in mvestrnert markets. Systems have been eslablBtred to mitig* It￿Se and all ottrer nsks The trustees ackTh>￿ge Ihat the UnWeCed￿ uncertanty caused by COVID-19 and rapidty thanging Circumstances mean that iud9emwts and esThes required by Mana9e1T￿rf we m￿e ch￿lenging than under r#xmal ClT¢umstan¢es. The trustees have gwen due regar¢J to the increased pressure m ff*come streams tswht ab￿ by Ihe pand￿nIC. The cash and Investment$ availabk at 31 December 2020 coupled wrth the exP￿￿nCe gained frcrfn q)wabng tt)e Garden In 2020 mean thattr￿ GKAng concwn remains aFVCVBte for the weparakn of these financ41 xcounts. For and on behaK of the Trustee Swjned G(J) Crf)Is￿ 2021. Slr 8 E F F¢nd•r, Clk*lnwan Ind•p•ndenl Examin•rfs R•port to the Tru•toe of IlwghbrKly Garden Trust I report to the charkty trustees on my ex￿inal￿)n (rf the olthe ctk7ity for the YÈ* en¢Jed 31 Decernber 2020, which are set out on pw 910 24. As the chanty's trustees olWlh￿hbr￿sje G¥den Trust you are responsible for the prep￿￿￿ of the counts in ¥ctytsn¢e wrth tt* requinnats of cfwitw Act 2011 I'the Acri l Tewt n respect ol my examin*x)n of the Wlknughbrty Gari*n Trust xcounts out undw se¢tson 145 of the 2011 Act in C￿j1￿ Crtrt my ex￿in￿1.0n I have lollowed all the ap￿￿b Dlrectp)ns gven ty lh8 CPwity Commiss¥Jn Sect*￿ 14515Mb) olthe Act &n¢e Vlllwhbrty G•den Tnjsfs gross iTK(Th exceeded £250.0￿ your examiner must be a member ol a bc#Jy listed n seckn 145 of Ihe 2011 Art I confimi that I ￿ qu*thed to undertake the ol the listed bodw. I have completed my exwnination. I confirm that rKJ c¢Th b) my conr￿1 wrth the exwnination gpiing me cwse to belwe.. 1. ￿¢unty'ng rec￿15 were fK>t kept in respect Trust as r&wired by ￿tK)n 130 01 the Act.. or 3. ihe ￿OUnts do not compty with the xcounting requirements concerning the fDmi w*d content of counts set out in the Charities IN£counts and Reports) ReguLgfKJllS 2008 othef th￿ any requirement that the ￿nts gi￿ a arxl ¥￿. wh￿h is a maler Con￿de￿I as p¥t of ￿ indepensjenl examina￿. I have ¢orKems come &ross no other rnatters in connecti)n with the examinabon to wh￿h attentK*n tsh￿1d be dravn in thts repyt to enable a proper undefSt*Mling of the ounts to t¢ rexhed S￿ned D￿[ Den%>n AC VAST The Dudson Centre Stoke ¢)n Trent ST15DD ## **Willoughbridge Garden Trust Statement of Financial Activities for the year ended 31 December 2020** |**2020**
**Unrestricted**
**Funds**
**Note**
**£**
**Income from:**
Donations and legacies
2
73,481
Charitable activities
3
72,345
Other trading activities
4
106,608
Investments
5
6,921
Other
1,827
**Total income**
261,182
**Expenditure on:**
Charitable activities
7
131,341
Raising Funds
8
141,956
**Total expenditure**
273,297
**Net income/(expenditure) before**
(12,115)
**gains and losses on investments**
Net gains/(losses) on investments
(11,180)
**Net income/(expenditure)**
(23,295)
**Transfers between funds**
(100)
**Net movement in funds**
(23,395)
**Reconciliation of funds:**
Total funds brought forward
669,125
Total funds carried forward
15
645,730|**2020**
**Unrestricted**
**Funds**
**Note**
**£**
**Income from:**
Donations and legacies
2
73,481
Charitable activities
3
72,345
Other trading activities
4
106,608
Investments
5
6,921
Other
1,827
**Total income**
261,182
**Expenditure on:**
Charitable activities
7
131,341
Raising Funds
8
141,956
**Total expenditure**
273,297
**Net income/(expenditure) before**
(12,115)
**gains and losses on investments**
Net gains/(losses) on investments
(11,180)
**Net income/(expenditure)**
(23,295)
**Transfers between funds**
(100)
**Net movement in funds**
(23,395)
**Reconciliation of funds:**
Total funds brought forward
669,125
Total funds carried forward
15
645,730|**2020**
**Restricted**
**Funds**
**£**
35,050
-
-
-
-
35,050
49,381
1,110
50,491
(15,441)
-
(15,441)
100|**2020**
2019
2019
**Total**
Unrestricted
Restricted
**Funds**
Funds
Funds
**£**
£
£
108,531
10,991
26,746
72,345
133,993
-
106,608
221,859
-
6,921
12,252
-
1,827
1,535
-
296,232
380,630
26,746
180,722
183,245
53,780
143,066
192,293
-
323,788
375,538
53,780
(27,556)
5,092
(27,034)
(11,180)
52,101
-
(38,736)
57,193
(27,034)
-
-
-
(38,736)
57,193
(27,034)
809,273
611,932
167,182
770,537
669,125
140,148|2019
Total
Funds
£
37,737
133,993
221,859
12,252
1,535| |---|---|---|---|---| |||||407,376
237,025
192,293| |||||429,318
(21,942)| |||||52,101| |||||30,159
-| ||(23,395)
669,125|(15,341)
140,148||30,159
779,114| ||645,730|124,807||809,273| All income and expenditure derive from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 12 to 24 form part of these financial statements 9 Illoughbridge Garden Trt￿t Balance Sheet for the year ended 31 D•c•mber 2020 2020 2019 Flxed assets Tangible assets Investments 287,418 494.464 781.882 300,570 500.504 801.074 10 Curvent •S3ots SlcKk Debtors Cash at bank and in hand 11 12 12,3CKI 6,033 74.202 92,535 14.OCK) 8.164 14.871 37.035 Credftor4 amounts falling due within one year Net current assets Credltorn :amounts falling due after one y￿r Net assets 13 48.663 43.872 55.217 770.537 28.836 8.199 14 809.273 Th• funds of thé charity unrestr￿tal ￿￿Orne furmts Restricted futhts Total funds 845,730 124.807 770.537 669,125 140.148 809,273 15 The financial sL*ements were approved and authorised for issue by the Trustee on March 2021. S￿ned on behalf of the Trusiees S￿ned i( rj J L_JJ irr Slr B E F Fond•r. Chalrnian Th• n¢)t•s on pag•s 12 to 24 forni yrt of th•8• financial statements 10 ## **Willoughbridge Garden Trust Statement of Cash Flows For the year ended 31 December 2020** |**Note**
**Cash flows from operating activities:**
**Net cash flow from operating activities**
17
**Cash flows from investing activities:**
Proceeds from sale of equipment
Purchase of property plant and equipment
**Net cash flow from investing activities**
Loan Received
Loan Payments
**Net movement in cash and cash equivalents**
**Cash and cash equivalents at 1 January 2020**
**Cash and cash equivalents at 31 December 2020**|**2020**
**£**
**9,943**
**-**
**(18,329)**
**(18,329)**
**75,000**
**(7,283)**
**59,331**
**14,871**
**74,202**|2019
£
(1,068)| |---|---|---| |||350
(18,046)| |||(17,696)| |||-
-| |||(18,764)| |||33,635| |||14,871| The notes on pages 12 to 24 form part of these financial statements 11 ## **Willoughbridge Garden Trust Notes to the Accounts for the year ended 31 December 2020** ## **1. Accounting policies** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** The financial statements have been prepared in accordance with Charities Statement of Recommended Practice (SORP): Accounting and Reporting by Charities (2019) applicable to charities preparing their accounts in accordance with FRS 102 effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. ## **Basis of preparation** Willoughbridge Garden Trust meets the definition of a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the accounting policy notes. ## **Going concern** The trustees acknowledge that the unprecedented level of uncertainty caused by COVID-19 and rapidly changing circumstances mean that judgements and estimates required by management are more challenging than under normal circumstances. As set out in the Trustees Report regard has been given to the increased pressure in income streams brought about by the pandemic. The investments (see note 10) are available to be drawn down over the next twelve months if required and the charity has also received a six year bank loan of £75,000 repayable by monthly instalments of £1041.67. As such with the ongoing benefit of furlough and council support grants the Trustees have concluded that the going concern basis remains appropriate for the preparation of these financial statements. ## **Incoming resources** The value of all resources accruing to the Charity are recorded in the Statement of Financial Activities as soon as it is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable the income will be received. Annual membership subscriptions are taken to revenue over the relevant subscription period. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustee’s Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and it is disclosed if material. ## **Resources expended** All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs relating to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: _Costs of raising funds_ includes costs of generating voluntary income, fund-raising, trading and investment fees, plus a share of support costs. _Expenditure on charitable activities_ includes details of all costs associated with the maintenance and development of the garden directly Support costs are those costs incurred in the support of the fund raising, governance and charitable activities which cannot be directly attributed. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include 12 ## **Willoughbridge Garden Trust Notes to the Accounts(continued) for the year ended 31 December 2020** cost related to independent examination fees. Support costs are incurred directly in support of expenditure on the objects of the charity and are apportioned between the categories noted above either directly or on a basis consistent with the use of resources. In the main these apportionments have been made in relation to income received. The analysis of these costs is included in note 6. ## **Government grants** Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. ## **Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on a straight line basis calculated to write off the cost of tangible assets, less estimated residual value, over their expected useful lives as follows:- |Freehold land|:|Nil| |---|---|---| |Freehold buildings|:|4% - 20% pa| |Plant and machinery|:|10% - 50% pa| Deprecation rates are variable to reflect the economic life of the asset. ## **Fixed assets investments and related income** Investments are included in the balance sheet at market value. Gains and Losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and opening market values (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at year end and the opening market value (or purchase date if later). We only show realised gains or losses separately in the Statement of Financial Activities that relate to amounts that are utilised to directly benefit cash flow. ## **Stock** Stock is valued at the lower of cost and net realisable value. ## **Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the Trustee to spend on activities that further any of the purposes of the charity and which have not been designated for any other purposes. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. The aim and use of any designated funds is set out in the notes to the financial statements. Restricted funds are funds which the donor has specified are to be solely used for particular areas of the Trust’s work or for specific projects being undertaken by the charity. 13 ## **Willoughbridge Garden Trust Notes to the Accounts(continued) for the year ended 31 December 2020** ## **1. Accounting policies (continued)** ## **Employee benefits** The charity operates a defined contribution plan through NEST for the benefit of some of its employees. Contributions are expensed as they become payable. Other employees, where eligible, are autoenrolled into a NEST pension scheme. ## **2. Donations and legacies** |Donations and gifts|**Unrestricted**
**funds**
**2020**
**£**
**73,481**
**73,481**|**Restricted**
**funds**
**2020**
**£**
**35,050**
**35,050**|**Total**
**funds**
**2020**
**£**
**108,531**
**108,531**|Unrestricted
funds
2019
£
10,991
10,991|Restricted
Total
funds
funds
2019
2019
£
£
26,746
37,737
26,746
37,737| |---|---|---|---|---|---| Included within donations and gifts in unrestricted funds in 2020 are amounts received in respect of furlough £45,652 and local authority COVID grants £12,688. Restricted funds include £32,500 of emergency funding from the Heritage Lottery Fund. There were no such receipts in 2019. ## **3. Charitable activities** |Gate receipts and membership|**Unrestricted**
**funds**
**2020**
**£**
**72,345**
**72,345**|**Restricted**
**funds**
**2020**
**£**
**-**
**-**|**Total**
**funds**
**2020**
**£**
**72,345**
**72,345**|Unrestricted
funds
2019
£
133,993
133,993|Restricted
Total
funds
funds
2019
2019
£
£
-
133,993
-
133,993| |---|---|---|---|---|---| ## **4. Other trading activities:** |Catering income
Gift shop income
Other trading income|**Unrestricted**
**funds**
**2020**
**£**
**77,412**
**12,962**
**16,234**
**106,608**|**Restricted**
**funds**
**2020**
**£**
-
-
-
**-**|**Total**
**funds**
**2020**
**£**
**77,412**
**12,962**
**16,234**
**106,608**|Unrestricted
funds
2019
£
148,982
30,112
42,765
221,859|Restricted
Total
funds
funds
2019
2019
£
£
-
148,982
-
30,112
-
42,765
-
221,859| |---|---|---|---|---|---| ## **5. Investments:** |Income from listed investments
Bank interest|**Unrestricted**
**Restricted**
**Total**
Unrestricted
Restricted
Total
**funds**
**funds**
**funds**
funds
funds
funds
**2020**
**2020**
**2020**
2019
2019
2019
**£**
**£**
**£**
£
£
£
**6,848**
**-**
**6,848**
11,885
-
11,885
**73**
**-**
**73**
367
-
367
**6,921**
**-**
**6,921**
12,252
-
12,252| |---|---| 14 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **6. Total expenditure:** |**a) Summary**
Charitable activities
Raising funds|**Direct**
**Costs **
**2020**
**£**
**159,014**
**116,533**|**Support &**
**governance**
**costs**
**2020**
**£**
**21,708**
**26,533**|**Total**
**Costs**
**2020**
**£**
**180,722**
**143,066**|Direct
Costs
2019
£
210,680
160,093
370,773|Support &
governance
costs
2019
£
26,345
32,200|Total
Costs
2019
£
237,025
192,293| |---|---|---|---|---|---|---| ||**275,547**|**48,241**|**323,788**||58,545|429,318| Direct costs included in the cost of generating funds include depreciation on restricted funds of £ . |**Charitable**
**Raising**
**Total**
**Activities**
**Funds**
**costs**
**Allocation**
**2020**
**2020**
**2020**
**b) of support costs**
**£**
**£**
**£**
Office salaries
**4,866**
**5,948**
**10,814**
Other office running costs
**10,709**
**13,089**
**23,798**
**c) of governance costs**
**-**
Professional fees
**429**
**524**
**953**
Insurances
**2,955**
**3,612**
**6,567**
Office salaries
**859**
**1,050**
**1,909**
Other office running costs
**1,890**
**2,310**
**4,200**
**21,708**
**26,533**
**48,241**|**Charitable**
**Raising**
**Total**
**Activities**
**Funds**
**costs**
**Allocation**
**2020**
**2020**
**2020**
**b) of support costs**
**£**
**£**
**£**
Office salaries
**4,866**
**5,948**
**10,814**
Other office running costs
**10,709**
**13,089**
**23,798**
**c) of governance costs**
**-**
Professional fees
**429**
**524**
**953**
Insurances
**2,955**
**3,612**
**6,567**
Office salaries
**859**
**1,050**
**1,909**
Other office running costs
**1,890**
**2,310**
**4,200**
**21,708**
**26,533**
**48,241**|**Charitable**
**activities**
2019
**£**
6,625
13,128
338
2,769
1,169
2,316
26,345|**Raising**
**Funds**
2019
**£**
8,097
16,045
413
3,385
1,429
2,831|**Total**
**costs**
2019
**£**
14,722
29,173
751
6,154
2,598
5,147| |---|---|---|---|---| ||**21,708**
**26,533**
**48,241**||32,200|58,545| ## **d) Staff costs, trustee remuneration and expenses** The average number of persons directly employed during the year and their salary and wage costs are set out below. There were no employees with emoluments in excess of £60,000 (2019: nil). Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds. |**Staff costs:**
Wages and salaries
Social security costs
Defined contribution pension costs|**2020**
2019
**£**
£
**223,539**
201,553
**6,344**
7,603
**9,813**
8,565
**239,696**
217,721| |---|---| ## **Staff numbers:** The monthly average number of persons (including senior management team) employed by the charity was 12 (2019:21). The total employee benefits of the key management personnel of the Charity were £48,585 (2019: £46,787). No remuneration, directly or indirectly out of the funds of the charity, was paid or payable for the year to any Trustee of Willoughbridge Garden Trust Ltd or to any person or persons known to be connected with any of them other than expenses of £ 1,430 (2019: £1,862) were reimbursed to one trustee during the year in his role as a volunteer of the Willoughbridge Garden Trust and £1,047 was paid to another trustee of Willoughbridge Garden Trust Ltd for their work organising and booking various weddings (2019: £4,303). 15 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **7.Charitable Activities** |Gardeners' wage costs
Gate wage costs
Direct garden expenditure
Direct educational costs
Depreciation
Support & governance costs allocated|**2020**
2019
**£**
£
**107,598**
99,484
**7,747**
11,673
**19,065**
73,655
**4,303**
3,361
**20,301**
22,507
**21,708**
26,345
**180,722**
237,025| |---|---| ## **8.Raising Funds** |Tea room purchases and wage costs
Gift room purchases and wage costs
Plants for resale
Depreciation
Support & governance costs allocated|**2020**
2019
**£**
£
**87,006**
121,186
**16,933**

25,841
**1,414**
5,145
**11,180**
7,921
**26,533**
32,200
**143,066**
192,293| |---|---| 16 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **9.Tangible fixed assets** |**9.Tangible fixed assets**||| |---|---|---| |**Freehold interest in**
**land and buildings**
**£**
**Costs**
At 31 December 2019
529,735
Additions
9,841
Disposals
-
**At 31 December 2020**
**539,576**
**Depreciation**
At 31 December 2019
257,132
Charge for year
21,002
On disposals
-
**At 31 December 2020**
**278,134**
**Net book value:**
**At 31 December 2020**
**261,442**
At 31 December 2019
272,603|**Plant and**
**machinery**
**£**
109,686
8,488
(4,562)
**113,612**
81,719
10,479
(4,562)
**87,636**
**25,976**
27,967|**Total**
**£**
639,421
18,329
(4,562)| |||**653,188**| |||338,851
31,481
(4,562)| |||**365,770**| |||**287,418**| |||300,570| All tangible fixed assets are held by the charity for its own use on activities and furtherance of its’ objectives. The Trustee does not consider it practicable to quantify any difference between the net book value of its land and buildings and the market value. 17 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **10. Investments and cash** |**10. Investments and cash**||||| |---|---|---|---|---| ||**2020**||2019|| ||**£**|**£**|£|£| |Market value at 31 December 2019||**490,824**||428,939| |Additions at cost||**98,851**||46,345| |Disposals at carrying value||**(99,674)**||(36,561)| |Gains/(losses):||||| |Realised||**19,317**||9,142| |Unrealised||**(30,497)**||42,959| |Market value at 31 December 2020||**478,821**||490,824| |Cash||**15,643**||9,680| |Total||**494,464**||500,504| |Represented by:||||| |Fixed interest and government stock|**52,387**||53,170|| |UK & global equities|**426,434**||437,654|| |Cash|**15,643**||9,680|| |||**494,464**||500,504| |**Historical cost at 31 December 2020**||**384,735**||366,210| |**Unrealised investment gains at**||**94,086**||124,614| |**31 December 2020**||||| |**Material investments, representing in**||||| |**excess of 5% of the portfolio value are:**||**£**||| |First Sentier Worldwide Sustainable||28,524||| |Conbrio Castlefield Real Return||39,063||| |Conbrio Castlefield Best Sustainable UK Opps||247,221||| |**11. Stock**
Tea room stock
Gift room stock
Plants
**12. Debtors**
Prepayments
Other debtors|**£**
£
**2,300**
2,000
**9,500**
11,500
**500**
500
**12,300**
14,000
**£**
£
**3,760**
5,254
**2,273**
2,910
**6,033**
8,164| |---|---| 18 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **13. Creditors - amounts falling due within one year** |Trade Creditors
Taxation and social security
Accruals
Deferred Income
Bank loan (see note 14)
Deferred Income at 1 January 2020
Resources deferred in period
Amounts released from previous period
Deferred Income at 31 December 2020|**2020**
2019
**£**
£
**2,468**
5,400
**2,111**
-
**3,470**
5,075
**28,114**
18,361
**12,500**
-
**48,663**
28,836
**18,361**
**22,334**
**(12,581)**
**28,114**| |---|---| Deferred income for the period includes membership subscriptions paid for the following calendar year, deposits for wedding bookings and advance ticket sales for various events. ## **14. Creditors - amounts falling due after one year** |Bank loan (see below)|**£**
£
**55,217**
-
**55,217**
-| |---|---| The Coronavirus Business Interruption Loan advanced in May 2020 is a six year loan repayable in monthly instalments of £1,041.67 that commenced in June 2020. The loan is interest free for twelve months and then charged at 3.8% over Bank of England Base Rate. At 31 December 2020 the loan can be split into: |Due within one year|£12,500| |---|---| |Due in more than one year|£55,217| 19 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **15. Movement in funds** |**Unrestricted funds**
Dorothy Clive Garden
**Designated funds**
Maintenance Fund
**Total unrestricted funds**
**Restricted funds**
Tractor shed-Garfield Weston
Glasshouse - Royal Botanical
Pavilion Toilet Block
Pavilion Kitchen Upgrade
Bottom Toilet Block
Motorised Wheelchair
Defibrilator
Heritage Awareness Project
Audio Induction Loop
VOIP/IT System
Pavilon seating
Yew hedge
Zoom Training Project
HLF Emergency Funding
**Total restricted funds**
**Total funds**|**Balance at**
**Incoming**
**Resources**
**Gains/**
**Transfers**
**Balance at**
**1 January**
**resources**
**expended**
**(losses) on**
**31 December**
**2020**
**investments**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
619,125
261,182
(273,297)
(11,180)
(100)
595,730
50,000
-
-
-
-
50,000
**669,125**
**261,182**
**(273,297)**
**(11,180)**
**(100)**
**645,730**
19,745
-
(1,234)
-
-
18,511
85,835
-
(5,370)
-
-
80,465
3,750
-
(1,750)
-
-
2,000
4,372
-
(928)
-
-
3,444
4,168
-
(1,400)
-
-
2,768
6,782
-
(1,368)
-
-
5,414
430
-
(216)
-
-
214
6,469
-
(6,593)
-
124
0
1,650
-
(554)
-
-
1,096
3,739
-
(1,030)
-
-
2,709
1,600
-
(400)
-
-
1,200
1,608
1,525
(1,708)
-
(24)
1,401
-
1,025
-
-
-
1,025
-
32,500
(27,940)
-
-
4,560
**140,148**
**35,050**
**(50,491)**
**-**
**100**
**124,807**
**809,273**
**296,232**
**(323,788)**
**(11,180)**
**-**
**770,537**| |---|---| 20 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** |**Unrestricted funds**
Dorothy Clive Garden
**Designated funds**
Maintenance Fund
**Total unrestricted funds**
**Restricted funds**
Tractor shed-Garfield Weston
Glasshouse - Royal Botanical
Pavilion Toilet Block
Pavilion Kitchen Upgrade
Bottom Toilet Block
Edible Woodland
Education
Motorised Wheelchair
Defibrilator
Heritage Awareness Project
Audio Induction Loop
VOIP/IT System
Pavilon seating
Yew hedge
**Total restricted funds**
**Total funds**|**Balance at**
**1 January**
**2019**
**£**
581,932
30,000
**611,932**
20,979

91,455
5,500
5,300
5,568
1,360
940
8,150
646
24,900
2,384
-
-
-
**167,182**
**779,114**
|**Incoming**
**resources**
**£**
380,630
-
**380,630**
-
-
-
-
-
-
-
-
-
19,920
(180)
4,750
2,008
248
**26,746**
**407,376**|**Resources**
**expended**
**£**
(375,538)
-
**(375,538)**
(1,234)
(5,620)
(1,750)
(928)
(1,400)
-
(940)
(1,368)
(216)
(38,351)
(554)
(1,011)
(408)
-
**(53,780)**
**(429,318)**|**Gains/**
**Transfers**
**Balance at**
**(losses) on**
**31 December**
**investments**
**2019**
**£**
**£**
**£**
52,101
(20,000)
619,125
-
20,000
50,000
**52,101**
**-**

**669,125**
-

-
19,745
-
-
85,835
-
-
3,750
-
-
4,372
-
-
4,168
-
(1,360)
-
-
-
-
-
-
6,782
-
-
430
-
-
6,469
-
-
1,650
-
-
3,739
-
-
1,600
-
1,360
1,608
**-**

**-**
**140,148**
**52,101**

**-**
**809,273**| |---|---|---|---|---| ## **Fund Descriptions** ## **Unrestricted Funds** ## **General Funds** Free reserves amounted to £483,119 on 31 December 2020. These are held principally as an income generation fund with the objective of realising a sufficient return of capital and income to enable the Trust to operate at an approximate break even position. This policy over the last ten year period achieved this objective. ## **Designated Funds** ## **Maintenance Fund** To cover the costs of major repairs and renovations to buildings and equipment. ## **Purposes of Significant Restricted Funds** ## **Tractor Shed** Funded by the Garfield Weston Trust (£25,000) This enabled the construction of a purpose-built facility for machinery and tools and the demolition and redevelopment of the garden on the old site. 21 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **Glasshouse** The glasshouse construction was mainly funded by Royal Botanical and Horticultural Society of Manchester and the Northern Counties £100,000, the friends of the Dorothy Clive Garden and the William Dean Environment Trust. ## **Pavilion Toilet Block and Kitchen Upgrade – funded by private donations** To provide toilet, storage and upgrade kitchen facilities for the Bryan Mayer Pavilion. ## **Bottom Toilet Block – funded by Staffordshire Environmental Fund and Garfield Weston Foundation** To upgrade and enhance the toilet block for use as public toilets and rest facilities for staff and volunteers. ## **Motorised Wheelchair** Funded by the Big Lottery to provide an electric wheelchair. ## **Defibrillator** The defibrillator was funded by the Friends of Dorothy Clive Garden. ## **Heritage Awareness Project** Funded by Heritage Lottery Fund £44,820 . The completed project improved the heritage awareness and inclusivity of the garden and provided better information and interpretation. ## **Audio Induction Loop** Funded by Staffordshire County Council this has enabled the purchase of an audio induction loop to assist people with harder hearing. ## **VOIP/IT System** Funded by The National Lottery Community Fund to replace and upgrade the telephone and IT systems. ## **Pavilion Seating** Funded by the Friends of the Willoughbridge Garden Trust to replace the Pavilion seating. ## **Yew Hedge** Funded by donations to complete the Old Drive project. **Zoom Training Project** William Dean Environment Trust To enable the purchases of equipment and ancillaries to upgrade the delivery of zoom courses during the pandemic. ## **Emergency Funding –HLF** This grant of £32,500 principally covered employment costs and PPE to enable maintenance of the garden and to facilitate better service to visitors. A small amount was to finance capital items aimed at offering visitors a safer environment. 22 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **16. Analysis of net assets by fund** |Fixed assets
Current assets
Current liabilities
Liabilities due in more than one year
Fixed assets
Current assets
Current liabilities|**2020**
**2020**
**2020**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
659,502
122,380
**781,882**
90,108
2,427
**92,535**
(48,663)
-
**(48,663)**
(55,217)
-
**(55,217)**
**645,730**
**124,807**
**770,537**
**2019**
**2019**
**2019**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
669,461
131,613
801,074
28,500
8,535
37,035
(28,836)
-
(28,836)
669,125
140,148
809,273| |---|---| ## **17. Reconciliation of net income/ (expenditure) to net cash inflow from operating activities** |**Net income/(expenditure) for the reporting period**
**(as per the statement of financial activities)**
**Adjustments for:**
Depreciation charges
Profit on sale of assets
Dividends, interest and rents from investments
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by operating activities**
**Analysis of cash and cash equivalents**
Cash in hand|**2020**
2019
**£**
£
**(27,556)**
(21,942)
**31,481**
30,715

**-**
(287)
**(5,140)**
(8,899)
**1,700**
(900)
**2,131**
(1,792)
**7,327**
2,037
**9,943**
(1,068)
**2020**
2019
**£**
£
**74,202**
14,871
| |---|---| 23 ## **Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2020** ## **18. Independent Examiner’s remuneration** The independent examiner’s fee is £700 (2019: £700). ## **19. Related Party Transactions** Mr T Edwards is a director of Boningale Ltd and a trustee of Willoughbridge Garden Trust Ltd, the sole corporate trustee of Willoughbridge Garden Trust. The garden purchased plants for resale from Boningale Ltd with a value of £ 778 (2019: £4,479) at arm’s length prices. No amounts were due to Boningale Ltd at 31 December 2020 (2019: £nil). The total amount of donations received from trustees of Willoughbridge Garden Trust Limited or other related parties for the period was £1,645 (2019: £650). ## **20. Government Grants** Heritage Lottery Fund The purpose of this funding is set out in note 15. The amount of grant recognised in the financial statements was £32,500 (2019: £19,920). There were no unfulfilled conditions at the year end. The National Lottery Community Fund The purpose of this funding is set out in note 15. The amount of grant recognised in the financial statements was £nil (2019: £4,750). There were no unfulfilled conditions at the year end. ## **21. Financial Commitments** The charity had committed purchases at 31 December 2020 of £4,000 (2019: £nil). ## **22. Legal Status of the Charity** The Willoughbridge Garden Trust is an unincorporated charity, registered with the Charity Commission for England and Wales and constituted by a conveyance and deed dated 12 April 1958, a supplemental deed dated 11 November 1958 as modified by a Scheme of the Secretary of State for Education and Science dated 8 June 1965 and by Schemes of the Charity Commissioners dated 11 August 1993 and 17 March 1998. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are described in the trustee’s report on pages 5-7 of these financial statements and in the curator’s report on pages 3-4. 24