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2023-12-31-accounts

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, Willoughbridge Garden Trust (Registered charity number 522695) :

a Trustee’s Report ' and Financial Statements

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for the year ended 31 December 2023

Page Contents 2 Charity Reference and Admintstrative Information 3-4 Curators 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 ,

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Willoughbridge Garden Trust Charity Reference and Administrative Information for the year ended 31 December 2023

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The Trust presents Its’ report together with the statement of accounts for the year to 31 December 2023.

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‘Fullname Willoughbridge Garden Trust

Registered charity number 522695

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Trustee oo

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 K Atkey . AE Fisher ; . C1 Barcroft J A Arkle J Hughes T Kyriacou ‘ R Underwood P M Dobson A Lakin (appointed 6 April 2023)

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Garden Curator ) K Robey: Princlpal address The Dorothy Clive Garden Willoughbridge . Market Drayton . Shropshire TF9 4EU Independent Examiner 7 Daryl Denson ACMA VAST ; The Dudson Centre Hope Street ; Stoke-on-Trent ST1 5DD

Bankers - Santander Bridle Road , Bootle Merseyside L304GB_ a —

Investment Advisors _ Castlefield Investment Partners LLP 1 Portland Street : Manchester ; M13BE

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Willoughbridge Garden Trust Curator’s report , For the year ended 31 December 2023 ;

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° 2023 has again been a record year at the garden in terms of visitor numbers. We actually welcomed just over 35,000 visitors over the year. Memberships have also continued to grow to over 2,500.

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Visitor numbers were boosted at the start of the season by the garden appearing on BBC
ee gy Gardeners World. Rachel de Thame was .
. ee. | cme =oxtremely complimentary about the garden
. SieAaRE Ae ace . — i]R{ resultingUnfortunately,in an increasethe very wet in day summer tickets and and autumn in coach
. ee pet cn Beiey which followed moderated the numbers. .
peerco jae: Veal. 2023 has been a year of consolidation with many
caeee ee ger projects undertaken over the past few years
es Cee wees coming to fruition. Online reviews of the garden
. ie Be Ae cee have been consistently outstanding with the
ci) p ages standard of planting and maintenance being an .
posarBg ae, a ON outstanding feature. Thisis in no small part due to
7 ae ; ee the increase in volunteer hours given by our very
Peeae Jie geePi i
The Glasshouse is no longer heated as ag |ae ae 4 aot os
part of our ongoing environmental policy. oneae a ft Te,Care Bh
The planting now reflects this but has not “0, BERS Pcl ea ven BR
_ lost any of its interest. : eaTMM OO ae Ba
This is now just an extension of our ‘Right * fhe, poo “che aati | ORR OT
plant in the right place’ ethos. OUegies
The Wildlife Hubb which was which was was generously Leh pS Ae ee Ae ee ee
funded by the Olwen McPherson the Olwen McPherson Olwen McPherson Trust has has eae ie - - .
enabled us to to expand our education area. . 27s ne an : .
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The Wildlife Hubb which was which was was generously Leh pS Ae ee Ae ee ee funded by the Olwen McPherson the Olwen McPherson Olwen McPherson Trust has has eae ie - - enabled us to to expand our education area. . 27s ne an During 2023 we welcomed school groups, cubs, scouts and adult education groups. We felt that we were in a position to create a post of education officer which was filled in September offering.by Hannah° Turner who will work for one day per week. expanding . and improving our _ MothersEvents continuedDay afternoonat theteagardenin Aprilduringthrough2023toanda Halloweenwere all welleveningattended.and aTheseChristmasrangedCarolfrom Concert. We have another full programme for 2024 averaging one large event per month. The Craft Fair of 2023 will be expanded to run over 2 days.

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Willoughbridge Garden Trust Curator’s report For the year ended31 December 2023

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ae ee eee Daffodil Walk has now become more
a fh<a) Of a year round’ area with the addition
=. _ aout 2& pote an fe mee =top to bottom. The grasses have been
slung Ce if fe | weakened to enable the wildflowers to
‘ Be es a eg ae cce., $year with Snowdrops and Primulas —
gg . 5,Sg COB gay gs pce giving way to Jack Snipe Daffodils
ff Le tree Gee Paha followed by Bluebells and then from
RON CR ae i Sete tq July to October.a series of naturalistic
| Pe:sep ee ne EeKetel wild flowers. Autumn colour from
" an eh * Rae % Litas n oe a \weees,' Various trees and shrubs then brings
i.- a/ _ ee TheUs fullautumncircle tomonths the Snowdrops.have seen some
of the essential building maintenance carried out. The Brian Mayer has been decorated
' inside and will be painted outside as soon as the weather allows. The Tearoom has a had a
_ facelifthave allandbeenupgradedecorated.in the customer; area and the lower car park toilets and. gardeners mess,
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purchase 31 fruit trees for the new Potager which which will be used as an educational educational and Oo recreational area. | would like to thank, on behalf of all visitors and staff of Dorothy Clive, all the funders and | supporters of the garden. Your help does enable us to undertake projects that would not otherwise be possible.

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K Robey Curator

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. Willoughbridge Garden Trust Trustee’s Annual Report for the year ended 31 December 2023

The Trustees presents thelr annual report and financlal statements of the charity for the year ended 31 December 2023.

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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 Charitles Act 2011.

Objects and aims mo The principal object of Willoughbridge Garden Trust as set out with the Charity Commission are to — provide . - Amemorial garden for the rest and recreation of the public and oo - The promotion of horticultural education for the benefit of students and the general, public.

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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 Charitles Act 2011 to have due regard to the public benefit guidance. published by the Charity Commission for. England and Wales.

Achlevements and performance oe

The charity's achievements for the year are set out in the Curator’s Report.

Management of the charlty — : , This.is vested In the Directors/Trustees of Willoughbridge Willoughbridge Garden Trust Ltd who who hold regular quarterly meetings and are involved In all major decisions decisions regarding both the strategy and management of the the garden. Volunteers —_

This.is vested In the Directors/Trustees of Willoughbridge Willoughbridge Garden Trust Ltd who who hold regular quarterly meetings and are involved In all major decisions decisions regarding both the strategy and management of the the garden.

The charlty 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 volunteers’ time amounted to approximately 5,000 hours.

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Financial review ; —_ The. Statement of Financial Activities Is set out on page 9. Overall the charity made a net loss of £2,510 (before investment gains and losses) for the year ended 31 December 2023 (2022: £20,761 loss). Incoming resources totalled £498,268 (2022: £442,495). Investment income was £12,496 (2022: £9,181). Investment gains amounted to £11,155 in the year (2022: £87,505 loss).

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The current year has seen record visitor numbers but the impact of cost pressure particularly on wage and food prices has impacted our result. Investment in education and garden staff has also increased our cost base.

The number of visitors, including re-visits and. children, was 35,800 (2022: 32,026)

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‘Resources expended totalled £500,778 an increase of 8% on 2022. In accordance with Charities SORP (FRS 102) - Second edition October 2019, these have been split across our three principal activities.

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Willoughbridge Garden Trust Trustee’s Annual Report (continued) for the year ended 31 December 2023

Expenditure on charitable activities totalled £237,548 compared to £221,150 in 2022 and is detailed in note 7. co,

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.

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Support costs have been allocated across the charity's principal activities in line with Charities SORP _ {FRS 102)- Second edition October 2019. ;

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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 galns to help Improve the sustainability of the garden. Free reserves amounted to approximately £428,000 on 31 December 2023 (2022: approximately £396,000). 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. ‘

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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. oo

Investment pollcy

, The charity's Investment policy has been formulated after taking full account of Part Il 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.

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Governing document

to, 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 modifled by a Schemeofthe Secretary of State for Education and Sclence dated 8 June 1965 and by Schemes of the Charity Commissioners dated 11 August 1993 and 17 March 1998. .

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The trustees of Willoughbridge Garden Trust Ltd are invalved 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 materia! misstatement or loss. They include: a Astrategic five-year plan five-year plan plan a ,

e Astrategic five-year plan five-year plan plan

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Willoughbridge Garden Trust Trustee’s Annual Report (continued) for the year ended 31 December 2023

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‘Annual audit

' Under clause 9 of the conveyance (Trust Deed) dated 12 April 1958 the Trustee resolved to dispense ~ with the annual audit requirement and to comply with the Charity Commissioner’s normal rules which require an Independent Examination for a charity of our size..

Appointment of trustees

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Trustees of the Willoughbridge Garden Trust Ltd are appointed from time to time to provide relevant . experlence and technica! support to the management team and to assist with the governance of the - charity. All potential appointees are considered by the Board prior to formally. being appointed. Appropriate induction and tralning Is provided if considered necessary.

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Risk management

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The risks to which the charity is exposed are reviewed regularly. The major risks include adverse weather conditions which have a detrimental impact on the number of visitors to the garden and volatility in investment markets. Systems have been established to mitigate these and all other risks to the extent that this is posslble.

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Going concern

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There are no risks Identified with the going concern status of the trust.

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For.and on behalf of the Trustee

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Signed . en ~ on + March 2024
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Sir B E F Fender, Charman

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Independent Examiner’s Report to the Trustee of Willoughbridge Garden Trust for the year ended 31 December 2023

| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023, which are set out on pages 9 to 24.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Willoughbridge Garden Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the Willoughbridge Garden Trust accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Willoughbridge Garden Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of Chartered Institute of Management Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Willoughbridge Garden Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed f y ZA \ Daryl Denson-A A VAST The Dudson Centre Stoke on Trent ST1 5DD

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Willoughbridge|Garden|Trust|:|.| |Statement|of|Financia!|Activities| |for the|year ended|31|December|2023|.| |||2023|2023|2023|«=|-2022|2022|«=|2022| |;|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|.| |.|Funds|.|Funds|Funds|Funds|Funds|.|Funds| |Note|£|£|£|£|£|£| |Income|from:|.| |Donations and legacies|2|17,848|oa|17,848|6,154|8,781|14,935| |Charltable|actlvities|3|200,673|-|200,673|160,066|-|160,066| |Other|trading|activities|.|4|265,415|-|265,415|257,044|-|257,044| ||Investments|5|12,496|-|12,496|9,181|-.|9,181||| |Other|;|1,836|-|1,836|1,269|=|1,269| |Total|Income|.|498,268|—|-|498,268|=|433,714|«8,|7811|442,495| |Expenditure|on:|.||| |Charitable|activities|7.|224,759|12,789|237,548|196,596|25,554|222,150| |Raising|Funds|8|263,230|~|263,230|241,106|-|241,106| |Total|expenditure|487,989|=|12,789|500,778|437,702|25,554|463,256|°| |Net|incomel(expenditure)|before|10,279|(12,789)|(2,510)|~|(3,988)|(16,773)|(20,761)| |gains|and|losseson|Investments|:| |Net gains/(losses) on investments||14,555|“|14,555|(87,505)|-|(87,505)| |‘Net|Income/{expenditure)}|21,834|(12,789)|9,045|(91,493)|(16,773)|(108,266)| |Transfers|between|funds|-|oe|-|1,372|(1,372)|-||| |Net|movement|In funds|21,834|(12,789)|9,045|-|(90,121)|(18,145)|(108,266)| |Reconclllation|of funds:| |Total funds|brought forward|763,843|116,291|880,134|853,964|134,436|=|988,400| |Total|funds|carried forward|44|785,677|103,502|889,179|763,843|116,291|880,134|

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All income and expenditure derive from continuing activities. The Statement of Financial Financial Activities includes all gains and losses losses recognised in the year. year.

of Financial Financial Activities includes all gains and losses losses recognised in the year. year. . The notes ‘on pages 12 to 24 form part of these financial statements a

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Willoughbridge Garden Trust | Balance Sheet for the year ended 31 December 2023

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |.|2023|202202| |.|Note|.|£|£| |Fixed|assets| ||Tangible assets|9|312,290|335,596| |Investments|10|513,227|497,339| |Current|assets||a| |Stock|‘11|16,750|14,650| |-Debtors|~|:|12|8,928|8,182| |_|Cash|at|bank|and|in|hand|87,328|85,179| |:| |,|113,006|108,011|.| |Creditors|amounts falling due within one year|13|(49,344)|(60,812)| |:|Net|current|assets|63,662|47,199|;|,| |Creditors|:amounts|falllng|due|after|one|year|13|-|-| |Net|assets|889,179|880,134| |The funds|of the|charity|oe,| |Unrestricted|income|funds|'|.|785,677|763,843| |Restricted|income|funds|,|103,502|116,291| |Total funds|14|889,179|880,134|

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The financial statements were approvean d authorised for issue by the Trustee on 4th March 2024.
Signed on behalf of the Trustees )
Signed | ee. “ on aMea dort
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Signed | Sir B E F Fender, Chalrman

The notes on pages 12 to 24 form part of these financial statements

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" Willoughbridge Garden Trust StatementofCash Flows For the year ended 31 December 2023

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: . Note =—-2028 2022
£ £
Cash flows from operating activities:
Netcash flowfromoperating activitles 7 16 14,054 * 24,153
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Cash flowsfrom investing activitles: oo
. Purchase of property plantand equipment (11,905) (73,396)
Netcash flowfrom investing activities (11,905) (73,396) .
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Net movement in cash and cash equivalents - 2,149 - (49,243)
Cashandcashequivalentsat 1 January2023 85,179 43442200
Cashandcashequivalentsat31December2023 87,328 ~85,179

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The notes on pages 12 to 24 form part of these financial statements

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. ~ Willoughbrldge Garden Trust Notes to the Accounts for the year ended 31 December 2023

1. Accounting policles

Summary of signiflceant accounting pollcles and key accounting estimates The princlpal accounting policies applied in the preparation of these financlal statements are set out below. These policies have been consistently appiled to ail the years presented, unless otherwise stated.

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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

: of a a public benefit entity as entity as as or transaction transaction value .

Willoughbridge Garden Trust meets the definition of a a public benefit entity as entity as as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction transaction value unless otherwise stated in the accounting policy notes.

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Going concern

The trustees consider that there are no material uncertainties about the charity’s abllity to continue as a going concer nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. .

Incoming resources

The value of all resources accruing to the Charity are recorded in the Statement of Financial Activities as soon as itis 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 Trustes’s Annual Report.

For Jegacies, 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.

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Resources expended

All expenditure is accounted for on an accruals basis and has been classifled 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, itis 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 fess, plus a share of support costs. :

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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 activitles 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

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. Willoughbridge Garden Trust oe Notes to the Accounts (continued) - for the year ended 31 December 2023 | to independent examination fees. Support costs are incurred on the the objects of the the charity and and are apportioned between the categories apportioned between the categories between the categories the categories or on a on a a basis consistent with the use the use use of resources. resources. In the main these relation to income received. The analysis of these these costs is included in .

cost related to independent examination fees. Support costs are incurred directly in support of expenditure on the the objects of the the charity and and are apportioned between the categories apportioned between the categories between the categories the categories noted above either directly or on a on a a basis consistent with the use the use use of resources. resources. In the main these apportionments have been made in relation to income received. The analysis of these these costs is included in note 6.

Government grants

“ Government grants are recognised based on the accrual model and are measured at the falr value of the asset received or receivable. Grants are classified as relating either to to revenue orto assets. Grants relating to revenue are recognised in income over the over the the period in which which the related costs are recognised. Grants relating to assets are recognised recognised over the the expected useful life of the the asset. Where part of a a grant relating to an asset is deferred, it is recognised as deferred income. : . , Tangible flxed assets and and depreciation ~— Tangible fixed assets are stated fixed assets are stated assets are stated are stated stated at cost less accumulated cost less accumulated less accumulated accumulated depreciation. . Depreciation is provided ona 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 NI. | Freehold buildings : 4%-20% pa . Plant and machinery’ : 10% - 50% pa Deprecation rates are variable to reflect the economic life of the asset. - Flxed assets Investments and related Income , Oo . Investments are Included in the balance sheet at market value. Galns and Losses are taken to the Statement of Financial Activitles as they arlse. Realised galns 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 Finaricial Activities that relate to amounts that are utilised to directly benefit cash flow. - StockStock is valued at the lower of cost and net realisable value. , . , Debtors and creditors recelvable / 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. |

Government grants are recognised based on the accrual model and are measured at the falr value of the asset received or receivable. Grants are classified as relating either to to revenue orto assets. Grants - relating to revenue are recognised in income over the over the the period in which which the related costs are recognised. Grants relating to assets are recognised recognised over the the expected useful life of the the asset. Where part of a a grant relating to an asset is deferred, it is recognised as deferred income.

Tangible flxed assets and and depreciation ~—

Tangible fixed assets are stated fixed assets are stated assets are stated are stated stated at cost less accumulated cost less accumulated less accumulated accumulated depreciation.

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 forany 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 spectfic 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.

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

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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.

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2. Donatlons and legacles Donatlons and legacles Donatlons and legacles
Unrestricted
funds		 Restricted
funds		 Total.
funds		 Unrestricted
funds		 —_Restricted Restricted
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funds		 Total
funds
, an 2023 2023 2023 2022 2022 . 2022
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Donations and gifts ; #£
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17,848
17,848		 £
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-		 £
17,848
17,848		 £
6,154
6,154		 £-
8,781
8,781		 £
14,935
14,935
3. Charltable activities
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Unrestricted Restricted Total Unrestricted Restricted Total
funds funds . funds funds funds funds
, - 2023 2023 2023 2022 2022 2022
; £ £ £ £ £ £
Gate receipts and membershlip 200,673 - 200,673 160,066 - 160,066
200,673 - 200,673 160,066 - - "160,066
4. Othertrading activities oe 7
_ Unrestricted
funds		 Restricted
funds		 Total
funds		 Unrestricted
funds		 —Restricted Restricted
funds		 - Total
funds...
; 2023 2023 2023 2022 2022 (2022
£ £ &£ £ £ £
Catering income
Giftshopincome		 191,128
39,729		 . -
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39,729		 © 175,651
35,971		 -
-		 175,651
35,971
Other trading Income 34,558 - 34,558 45,422 - 45,422
. , 265,415 ” 265,415 257,044 : 257,044
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5. Investments
' Unrestricted Restricted Total © Unrestricted Restricted — Total
funds funds . funds funds funds funds
2023 2023 2023 2022 2022 2022
an , £ £ £ £ £ £
'- Income fram listed investments 6,977 " 6,977 7,743 - 7,743
Bank interest 5,519 * 5,519 1,438 - 1438
, 12,496 - 12,496 9,181 ~ 9,181

Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

6. Total expenditure:

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Direct Support & Total Direct Support & Total
Costs governance Costs Costs governance Costs
costs costs
2023 2023 2023 2022 2022 2022
a) Summary £ £ £ £ £ £
Charitable activities 200,009 37,539 237,548 195,438 26,712 222,150
Ralsing funds 217,349 45,881 263,230 208,680 32,426 241,106
417,358 83,420 500,778 404,118 59,138 463,256
Depreciation of £12,789 is included In the restricted costs of charitable activities.
Charitable Ralsing Total Charitable Ralsing Tota!
Allocation Activities2023 Funds2023 costs2023 actlvitles2022 Funds2022 costs2022
b) of support costs £ £ £ £ £ £
Office salaries 12,850 15,705 28,555 5,747 7,023 12,770
Other office running costs 15,543 18,997 34,540 14,149 17,071 31,220
c) of governance costs
Professional fees 427 523 950 334 409 743
Insurances 3,708 4,532 8,240 3,148 3,848 6,996
Office salaries 2,268 2,772 5,040 1,014 1,239 2,253
Other offlce running costs 2,743 3,352 6,095 2,320 2,836 5,156
37,539 45,881 83,420 26,712 32,426 59,138
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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 (2022: £nil). Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds.

Staff costs: 2023 2022
£ £
Wages and salaries 272,938 240,882
Social securitycosts 11,933 8,157
Defined contribution pension costs 11,517
296,388		 10,529
259,568

Staff numbers:

The monthly average number of persons (including senior management team) employed by the charity was 17 (2022:15).

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The total employee benefits of the key management personnel of the Charity were £51,429 (2022: £53,583).

Trustee Remuneration

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 £2,079 (2022: £2,177) were reimbursed to one trustee during the year in his role as a volunteer of the Willoughbridge Garden Trust.

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

7.Charltable Activities

2023 2022
£ £
Gardeners’ wage costs 136,792 120,520
Gatewage costs 14,381 12,601
Directgarden expenditure 24,468 32,507
Directeducational costs 1,489 349
Depreciation
Support&governance costs allocated		 22,879
37,539		 29,461
26,712
237,548 222,150

8.Ralsing Funds

8.Ralsing Funds
2023 2022
£ g
Tea room purchases andwagecosts _ 161,760 158,327
Gift room purchases andwage costs 36,588 30,118
Plants for resale 6,669 8,530
Depreciation 12,332 11,705
Support&governance costs allocated 45,881 32,426
263,230 241,106

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Willoughbridge Garden Trust Notes to the Accounts (continued) . for the year ended 31 December 2023

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9.Tanglble fixed assets

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: , . Freehold Interestin = Plant and
landand buildings machInery Total
£ .
o£		 £
Costs -
At31December2022 621,959 114,906 736,865
' — Additions 223 11,682 . 11,905
Disposals
At31 December2023		 ; -
622,182		 (5,763)
120,825		 (5,763)
743,007
)
Depreciation )
At31December2022 328,027 73,242 401,269.
Charge foryear , 21,093 14,118 35,211
On disposals
At31 Dacember2023.		 a -
349,120		 (5,763)
81,597		 ___(5,763)
430,717
_ Netbookvalue: mS
At31 December2023 ' 273,062 39,228 312,290
_At31December2022 293,932 41,664 335,596

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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.

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Wllloughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

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10. Investments and cash cash cash
; 2023 . "2022
£ .
€		 £ £
Marketvalue at31 December2022 488,091 571,881
Additions at cost
Disposals atcarrying		 value 1,748
-		 148,453
(144,738)
Gains/{losses): -
Reallsed . . 21,004
Unrealised 11,555 (108,509)
Marketvalue at31 December 2023 501,394 488,091
Cash 11,833 9,248
Total : _513,227 497,339 -
Represented by:
Fixed interest and. gavemmentstock 20,594 22,681
UK&global equities ~ 480,800 465,410
Cash 11,833 9,248
_ 513,227 497,339
Historical costat31 December2023 ‘ 433,837 420,506
Unrealised investment galns at 79,390 67,525
31 December 2023
Material Investments, representing In
excess of5% ofthe the portfoliovalue are: £ .
First SentierWorldwide Sustainable 48,047 ms
Conbrio Castlefield Bast Sustainable UKOpps 139,190
Conbrio Castlefield BastSustainable UK Small Co's 45,078 :
. Conbrio Castlefield BestSustainable Europe » . 50,160
FPWHEB asset management fund 26,327
LionTrust 30,231
11. Stock
' 2023 2022
£ £
Tearoomstock 3,500 2,400
Gift room:stock 12,950 * 42,250
Plants , ~ 300 ; -
. — 16,750 14,650
12. Debtors
. . 2023 2022
£ £
Prepayments
Other debtors		 : __ 5,568:
3,360		 4,955
3,227
8,928 8,182

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

13. Creditors

2023 2022
£ £
Trade Creditors 6,749 23,357
Taxation and social security 6,576 2,342
Accruals 4,900 6,322
Deferred Income 31,119 28,791
49,344 60,812
Deferred Income at 1 January 2023 28,791 33,156
Resources deferred in period 27,227 24,549
Amounts released from previous period
DeferredIncomeat31December2023		 (24,899)
31,119		 (28,914)
28,791

Deferred income for the perlod includes membership subscriptions paid for the following calendar year, deposits for wedding bookings and advance ticket sales for various events.

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Wllloughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

14. Movement In funds

Balance at Incoming Resources Galns/ Transfers Balance at
41 January resources expended on 31 December
2023 Investments 2023
£ £ £ £ £ £
Unrestricted funds
Dorothy Clive Garden 615,479 498,268 (487,989) 11,555 (12,000) 625,313
Designated funds
Malntenance Fund 50,000 - - - ~ 50,000
Strategic Developmnent Fund 98,364 - - - - 98,364
Education Development Fund - - - - 12,000 12,000
Total unrestricted funds 763,843 498,268 (487,989) 11,555 - 785,677
Restricted funds
Tractor shed-Garfield Weston 16,043 - (1,234) - - 14,809
Glasshouse ~- Royal Botanical 59,805 - (4,615) - - 55,190
Pavillon Kitchen Upgrade 1,967 - (673) - ~ 1,294
VOIPAT System 1,012 - (280) - ~ 732
Pavilon seating 400 - (400) “ - 0
HLF Emergency Funding 2,546 - (1,007) ~ - 1,539
Olwen Mcpherson Trust 28,768 - (4,280) - - 24,488
Upgrade Drive 5,750 - 300 : - 5,450
Total restricted funds 116,291 - (12,789) - - 103,502
Totalfunds 880,134 498,268 (500,778) 11,555 " 889,179

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Willoughbridge Garden Trust — Notes to the Accounts (continued) for the year ended 31 December 2023

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Balance|at|Incoming.|Resources|Galns/|Transfers|Balance|at| |1|January|resources|expended|(losses)|on|31|December| |2022|investments|—|2022.| |£|E|—£|Ok|£|£| |Unrestricted funds| |Dorothy|Clive|Garden|703,964|.|433,714|(436,066)|(87,505)|1,372|615,479| |Designated|funds|.| |Maintenance|Fund|50,000|-|-|mn|.|-|50,000| |Strategic|Development|Fund|400,000|-|-~|1,636|-.|-|98,364| |Total|unrestricted funds|853,964|433,714|(437,702)|(87,505)|1,372|763,843| |TractorRestrictedshed-Garfleldfunds|Weston|17,277|,|-|oo|(1,234)|-|;|~|16,043| |Glasshouse|-|Royal|Botanical|75,095|-|(15,290)|-|-|59,805| |Pavilion|Toilet|Block|250|-|(250)|_|-|-| |Pavilion|Kitchen|Upgrade|2,895|||=|(928)|-|-|1,967| |Motorised|Wheelchair|.|+|41,396|-|(1,396)|;|-|-|-| |Audio|Induction|Loop|542.|_o|(542)|-|-|-| |VOIP/IT System|2,043|-|(1,030)|-|(1)|~|1,012| |Pavilon|seating|800|-|(400)|-|-|400| |Yew|hedge|851|-|-|-|(851).|-| |Zoom|Tralning|Project|.|508|-|os|-|(508)|-| |HLF|Emergency|Funding|°|3,553|1,372|(1,007)|-|(1,372)|2,546| |Olwen|Mcpherson|Trust|29,226|-|(1,380)|-|922|28,768| |HollyUpgradeHedgeDrive—|--|5,7501,659|-|(2,097)-|-|-|438-|5,750-| |Total|restricted funds|134,436|8,781|(25,554)|.|(1,372)|116,291| |Total funds|988,400|442,495|(463,256)|(87,505)|-|880,134|

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Fund Descriptions

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Unrestricted Funds

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Genera! Funds

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Free reserves amounted to approximately £428,000.on 31 December 2023. 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. . :

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DesIgnated Funds

Malntenance Fund

To cover the costs of major repairs and renovations to buildings and equipment.

Strategic Development Fund This has been set up to earmark funds for the ongoing development and improvement of the garden.

Educational Development Fund To. enable the further development and extension of the education programme and to cover the associated costs incurred.

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

Purposes of Significant Restricted Funds

Tractor Shed

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Funded by the Garfield Weston Trust (£25,000) This enabled the construction of a purpose-bullt facllity for machinery and tools and the demolition and redevelopment of the garden on the ald site.

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Glasshouse

‘The glasshouse construction was malnly funded by Royal Botanlcal and Horticultural Society of Manchester and the Northem Counties £100,000, the friends of the Dorothy Clive Garden and the Wililam Dean Environment Trust. ;

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Pavillon Toilet Block and Kitchen Upgrade — funded by private donations

To provide tollet, storage and upgrade kitchen facilities for the Bryan Mayer Pavilion.

VOIPAT System

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Funded by The National Lottery Community Fund to replace and upgrade the telephone and IT systems.

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Pavillon Seating

Funded by the Friends of the Willoughbridge Garden Trust to replace the Pavilion seating.

_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 capltal items almed at offering visitors a safer environment.

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Olwen McPherson Trust

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This grant is to fund the construction of a wooden building for the exhibition of bees and related educational activities.

Upgrade Drive Project

Upgrade Drive Project ; Part funded by The Friends of the Dorothy Clive Garden. ee

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

15. Analysis of net assets by fund

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2023 2023 2023
- Unrestricted Restricted Total
i funds funds funds
Fixed assets 208,788 . 103,502 312,290
Investments
Current assets		 Ds ; 513,227
113,006		 -
_		 513,227
413,006
Current liabilities (49,344)
785,877		 — :
103,502		 _ (49,344)
889,179
a ° 2022
Unrestricted		 2022
Restricted		 © 2022
Total
funds funds funds
Fixed assets 219,305 116,291 335,596
Investments 497,339 - 497,339
. Current assets
.		 108,011 - 108,011
Current liabilities a (60,812) : (60,812)
763,843 116,291 "880,134
16. Reconclliation of net expenditure to netcash inflowfrom operating activitles:
2023 2022
Netincome/(expenditure) forthe reporting period (2,510) (20,761) .
(as perthe statementoffinancial activities) '
Adjustments for: .
Depreciation charges 35,211 41,166
Dividends, interestand rents from investments (4,333) (5,140)
(Increase)/decrease in stocks (2,100) (2,750) ,
(Increase)/decrease in debtors (746) (2,532)
Increase/(decrease) in creditors (11,468) .
14,170
Netcash provided byoperating activities 14,054 24,153
Analysis ofcash and cash equivalents .
2023 2022 .
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Cash in hand 87,328 85,179
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87,328		 85,179

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Willoughbridge Garden Trust Notes to the Accounts (continued) for the year ended 31 December 2023

17. Independent Examiner’s remuneration

The independent examiner's fee is £800 (2022: £750).

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18. Related Party Transactlons

There were no related parties’ payments In the year.

The total amount of donations received from trustees of Willoughbridge Garden Trust Limited or other related partles for the period was £360 (2022: £500).

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19. Financlal Commitments

The charity had committed purchases at 31 December 2023 of £ nil (2022: E£nil).

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20. Legal Status of the Charity

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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 _ of4958,Statea supplementalfor EducationdeedanddatedSclence11 Novemberdated 8 1958Juneas1965modifiedand byby a SchemeSchemesofof thetheSecretaryCharity Commissioners dated 11 August.1993 and 17 March 1998.

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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. ,

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