Charity registratlon number 900325 Company roglstration number 2449757 (England and Wales) PLANTS AND MINDS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2024
PLANTSAND MINDS LEGAL AND ADMINISTRATIVE INFORMATION Trustees James Robinson (Chair) Vic Williams Keilah Towers ffreasurer) Deborah Jamiey Caroline Darby Jenkins (Appolnted 1 February 2023} (Appointed 1 February 2023) Senlor Management Team Sandi Marshall - Project Manager Chery Tree Nursery Andrew Verr6ck- Project Manager Chestnut Nursery Patrons Bill Bailey Mrs A Pitt-Rivers Katie Cox Norman Aish Registered numbers Charity number Company number 900325 2449757 Principal address Cherry Tree Nursery Off New Road Roundabout Northboume Bournemouth Dorset BH10 7DA Registered office Cherry Tree Nursery Off New Road Roundabout Northboume Boumemouth Dorset BH10 7DA Independent Examiners Wamer Wilde Limited 4 Marigold Drive Bisley Surrey United Kingdom GU24 9SF Bankers CAF Bank Limited. West Malling, Kent Barclays Bank Plc, Casttepoinl, Boumemouth Lloyds Bank PIG, Poole Cambridge and Counties Bank Redwood Bank Monmouthshire Building Society United Trust Bank
PLANTS AND MINDS CONTENTS Page Trustees, report Independenl examinevs report Statement of financial activities Balance sheet Notes to the financial statements 10-23
PLANTS AND MINDS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY 2024 The trustees present their annual report and financial statements for the year ended 31 January 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial ststemenls and comply wilh the charitable company's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). {effective 1 January 2019). Objectlves and activities The objectives of the charity are: to offer a sheltered Workpla relating to horticulture and use of the land to those suffering mental illness. providing a place for relief and rehabilitation. education and devélopmenL The charity's Wision. Mission and Values are set out below. VEslon A community where mental health does not define us. Mission We promote therapeutic horticulture as a basis to provide realistic work experience in a non-pressured environment, allowing those struggling with their mental health the opportunity to flourish. Value5 Welcoming - our community is always pleased to see its members Listening we make time to listen to each other's problems. stories and successes,. peer support is invaluable and is encouraged and facilitated Compasslonate and non-judgemental - we respecl everyone and see the person behind the diagnosis Practical - we provide and share skills and advice that can be used in everyday lrfe Diversity and inclus5vity - everyone is treated equally and fairly. irrespective of their age, disability. ethnicity, religion, gender and sexual orientation Empowerment- all are encouraged and supported to fvlfil their potential Activities The main areas of charitable activity are the provision of Iwo sheltered workplaces, Cherry Tree Nursery and Chestnut Nursery. as well as support, training and guidance for the Volunteers who attend. The nurseries propagate and grow, as well as buying in plants for direct sale to the public and other horticulturalists and the Volunteers are involved in all aspects of this. Th8 Volunteers, who are the primary beneficiaries of the charity. are people wilh mental health illness who are referred to the projocts by various sources including Dorset Healthcare University Foundation Trust. GP'S. other agencies and self-referral. Ail services are provided fre8 of charge to the Volunteers. The charity has developed and is implementing a three year Strategic Plan to enhance tts operations. Public Beneflt The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefil when reviewing the charity's aims and objectives and in planning its future activities. There is increasing extemal evidenc8 of the benefils of horticulture therapy on wellbeing especially in the treatment of menlal health. Fri8nds of the charity The charity is most grateful to all the people, known as 'Friends' of the charity who give their time on a voluntsry basis to help with the activities of and fundraising for the Charity. 88 Friends contributed in this way during the year and the charity could not so successfully provide all the services it does without them.
PLANTSAND MINDS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 Achievements and perft>rmance During the course of the year, 118 Volunteers with mentsl health problems have attended and been supported by Cherry Tree Nursery and 50 have attended and been supported by Chestnut Nursery. Our Volunteers are abl6 to attend the nurseries for up to full days each week. As predicted, the demand for our services has increased partly due to the Covid-19 pandemic but also due to the increased demand for NHS mental health serViS and the associated delays in accessing said treatments and serviS. We have always been aware Ihat we plug a gap in NHS setvices and we are often the only option for those who are not in NHS treatments. As a result, we are seeing new applicants who are very unwell, not as far into their recovery joumey as we would have seen before and. as a result, need a huge amount of support, compassion and undèrstsnding from us all. In order to widen our accessibility to Volunteers before they have been able to access NHS specialist seNices. with the benefit of a Dorset NHS Trust grant administered by Dorset Community Foundation, in 2024 we have started to form a neOrk with other support organi5ations in the area so that they are able to recommend our services to appropriate adults who are accessing their seNIs. After many years with us, our manager at Chery Tree Nursery retired and we are very fortunate to have appointed a new manager who brings a wealth of experience and enthusiasm to the role. Wo are extremely grateful to both of our nursery managers and all our members of staff who have again risen to the challenges thrown at them this year and demonstrated their commitment to our Volunteers and our charity. Our Volunteers generally gain substantially in skills and confidence while they are with us. Regular reviews of the Volunteers al 6 or 12 monthly intervals show improvements in motivation, confidence, self-esteem, sense of belonging to a communFty, and gaining new skills. wilh a decrease in feelin9s of loneliness, isolation and admission to psychiatric hospitals. Treatment of mental health conditions such as anxiety and depression are becoming more peer-led in Ihe community mental health teams in an effort to offer support and understsnding to those in mental distress and we welcome this realisation of the value of peer support which is an importanl part of our ethos. We hold many classes. events, trips and workshops throughout the year to broaden the life experiences offered to our Volunteers including peer-led cookery and crafting sessions, days out to Kew Gardens and Boumemoulh Beach Hut and. with the support of The Landmark Trust, a small group of our Volunteers were able to have a few days. holiday in a historic building. The RHS Level One course in Practical Horticulture which we have been delivering to some Volunteers on a rolling programme. as a satellite of Kingston Maumard College in Dorchester. was completed during the year with all students successfully completing their courses. This initiative allows volunteers the opportunity to obtain this presligious qualification in situ at Chery Tree Nursery. We anticipate that these qualifications will lead to improved work prospects in the open job market or fiJrther study. Either way, the successful students have gained an accredited qualification that is widely respected throughout the horticullural industry and will have greatly increased their own self confidence and self-esteem. This is eVIdend by a group of our Volunteers who, after completing their Level 1 Course with us, chose independently to enrol at Kingston Maumard to continue their studies and undertake the RHS Level 2 course. SWOP actively seeks to break down the slareotypical ideas and stigma associated with a mental health diagnosi5 by engaging with the local community and we are pleased to welcome school, industry and local interost groups back to visit. Our Community Liaison Officer has continugd her outreach aGtivities in the year which raises our profile in the local community. As part of this programme, we have changed the name of Ihe charity in 2024 from °Sheltered Work Opportunities Projecr to °Plants and Minds" a name which we feel more ¢le8rly reflects our activities and ethos to our many st8keholders. The pandemic increased the public's awareness of the solace of nature and the joy of gardening and we are always plaas8d to welcome back old and new customers. Our beautiful tailor-rnade shop al Chestnut Nursery has bean a great success as an inspiring place to work and to shop in and we have welcomed many new customers for the high quality plants nurtured by our Volunteers. The predominanuy outdoor experience of shopping at Cherry Tree Nursery suils many. but expansion and development ol the retail area Ihere is a project on which we have made a stsrt in earfy 2024 by doubling the size of our retsil polytunn81, allowing us to display many more of our plants in an environment protected from the weather.
PLANTSAND MINDS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 Financlal review The policy of the charity's Trustees is to maintsin reserves at a leval which provides a cushion against any downtum in funding in order to provide security for the charity's beneficiaries. The promotion of plant sales in recent years has allowed the charity to become more self sufficient and less dependent on grant and donation funding for its regular activities but this, in tum. means that sustainability is more affected by fiuctuations in demand in the horticultural retail sector. Free reserves stood a little under £350,000 at the balance sheet date which represent a little over 4 monlhs. total running costs for the charity and the Trustees consider this position to be satisfactory. Princlpal Funding Sources Funding for the charity is provided by plant sales from the two nurseries, servica lèvel agreemants with the local authority. fvndraising activities and legacies, grants and donations from individuals and organisations. Fundraising activities have included events such as Great Garden Parties at both nurseries, the Great Duck Race in Bournemouth Gardens, a Charity Golf Day hosted by Gordon Barker Sales and Lettings. Easter Bingo as well as a Quiz Night. Cream Tea, Antiques Valuation Day and a Coffee Moming at Rick Stein. We also hosted bucket collections, plant sales and presentations and we were chosen as charity of the year by the Femdown Business NebNork, Leading Edge NeIOrkIng. Boumemouth and District Law Society and Christchurch Golf Club. The Trustees are grateful to all the individuals and organisations who have fijndraised and donated to the charity and would especially like to thank: Nomian and Jean Aish, Stephen Bailey. Aaron Barker, The Atice Ellen Cooper-Dean Charitable Foundation, Blue Pebble Monday. Bournemouth AFC, Bournemoulh Free Church, Bournemouth North Rotary, Christchurch Golf Club, Mlke and Tina Clifford. Eastcliff Rotsry, Femdown Business Network, Femdown & Parfey Rotary, The Holdenhurst Chariiy. Arthur and Doreen King, The Leading Edge Business Nelwork. Moose Intemational. JP Morgan. Luke Piper, Poulner Players. Barclays Tony Raybould. Stanbridge Mill, Peter Stockwell-Jones. Stefan Tariska. Investment Policy The charity aims to maintain a prudent amount of free reserves each year and sufficient working capital to support a seasonal trade. Having considered the long-temi investments options available. the Board of Trustees has opted for a low-risk investment policy and decided to maintain investrnents in a variety of deposit accounts with UK banks and building societies which are each covered by FSCS guaraniees. Investment policies are reviewed on an ongoing basis. Risk management The Board of Trustees has conducted a review of the major risks to which the charity is exposed. A Risk Register has been established and is updated at least annually. Where approprtate. systems and procedures have been established and are updated at least annually to mitigate the risks the charity faces.
PLANTS AND MINDS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 Structure, governance and management The organisation is a charitable company limited by guarantee, incorporated on 6 December 1989 and registered as a charity on 12 February 1990. The company was established under a Memorandum of Association which established the objectives and powers of the charitable company and is govemed under its Articles of Association. The charitable company changed its name on l May 2024 from Sheltered Wort( Opportunities Project to Plants and Minds. In the event of tha company being wound up. members arè required to contribute an amount not exceeding £1.00. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: James Robinson (Chair) June Perryman Vic Williams Catherine Hosier Keilah Towers (Treasurer) Deborah Jarmey Caroline Darby Jenkins (Resigned 6 July 2023) (Resigned 2 April 20241 (Appointed 1 Febmary 2023) (Appointed 1 February 2023) The directors of the company are also the Charity Trustees for the purposes of charity law and under the companls Articles are known as members of the Board of Trustees. Trustee Selection Methods A range of business and mental health skills are well represented on the Board of Trustees. In an effort to maintain this broad skill mix, members are requested to provide a list of their skills and update it each year. In the event of partiGular skills being lost due to retirement, individuals are approached to offer themselves for election onlo the Board of Trustees. Under the requirements of the Memorandum and Articles of Association. the members of the Board of Trustees are elected to serve for a period of a year after which they must be reelected at Ihe next Annual General Meeting. Organisational Structure The Board of Truslees nomially meet quartedy with a pre-planned agenda and receives management accounts, a written and verbal report from both nursery managers and a financial risk and funding overview, to enable it to make decisions. Plants and Minds, two nursery managers report to the Board of Trustees. The power to make day-to-day decisions is vested in th8 two managers and they hold meeting with Volunteers at least monthly to ensure Volunteers are involved in appropriate decision making Trustee Induction and Training Most Trustees are already familiar with the practical work of the charity, having been encouraged to follow closely the actimties of the project. New Trustees are encouraged to attend the projects to observe the dey-to-day operation lo familiarise themselves wilh th8 charity and the context in which it operates. These visits are led by the Chairman of the Trustees and facilitated by the project managers. Infomiation provided to new Trustees includes.. The obligations of Ihe Board of Trustees The main documents setting out our operational framework including the Memorandum and Articles of Association. Our Mission and Vision Resourcing and the current financial position as set out in the latest published accounts. Our Strategic Objectives. The Charity Commission's guide °The Essential Tnjstee.
PLANTS AND MINDS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 Related and affiliated organisations Plants and Minds is not connected with any other charity or company but does work closely with a number of different organisations. The trustees, report was approved by the Board of Trustees. ames Roblnson (Chair) Trustee Dated: ..l.O 1:1120&*
PLANTS AND MINDS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PLANTS AND MINDS I report to the trustees on my examination of the financial statements of Plants and Minds (the charitable company) for the year ended 31 January 2024. Responsibilities and basis of report As the trustees of the charitable company (and also its directors for the PLtrposes of company law) you are responsible for the preparation of the financial statements in accordan with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examSner's statement Since the charitable companWs gross income exeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinalion because l am a member of the Association of Chartered Certtfied Accountants, which is one of Ihe listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any matertal respect.. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act" or the financial statements do not accord with those records. or the financial ststemenls do not comply wilh the accounting requirements of section 396 of Ihe 2006 Act other than any requirement Ihat the accounts give a true and fair view which is not a matter considered as part of an independent examination" or the financial statements have not been prepared in accordance with the melhods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no conc8ms and have com8 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 financial statements to be reached. FJ Wilde FCCA DChA Warner Wilde Limited 4 Marigold Drive Bisley Surrey GU24 9SF United Kingdom IL JJ IoL+
PLANTS AND MINDS STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUAR Y 2024 Current financial year Unr8strlcted Unrèstrieted funds funds general designated 2024 2024 Restricted fvnds Total Total 2024 2024 2023 Notes Income from: Donations and legacies Charitable Activities 44,634 795,663 16,541 5,158 61,175 800,821 65,907 686,075 Investments 7,359 7.359 3,002 Total Income 847.656 21,699 869.355 754,984 Expenditure on: Raising funds Charitable Activities 2,413 871.974 2,413 984.108 1.911 829,714 9.427 102,707 Net expenditure (26,731) 19.427) {81.008) (117,166) (76,641) Transfers between funds (11.506) 11,506 Net movement in funds (38,237) 2.079 (81,008) (117.166) (76.6411 Reconciliation of funds: Fund balanS at 1 February 2023 385,350 198,134 817,465 1,400,949 1.477.590 Fund balances at 31 January 2024 347.113 200,213 736.457 1,283,783 1.400,949 The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure derive from wntinuing activities.
PLANTS AND MINDS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY2024 Prior financial year Unrestricted Unrestricted funds funds general designated 2023 2023 Restrlcted funds Total 2023 2023 Notes Income fmm: Donations and legacies Charitable activities Charitable Activities Investments 44,518 21,389 65,907 686,075 3.002 686,075 3,002 Total income 733.595 21,389 754,984 Expenditure on: Raising funds Charitable Activities 1.911 729,213 1,911 829,714 9,493 91,008 Net incomel(expenditure} and movement in funds 2,471 (9,493) (69.619) (76,641) Reconciliation of funds: Fund balances at 1 February 2022 382,879 207,627 887,084 1.477.590 Fund balances at 31 January 2023 385,350 198.134 817,465 1,400.949
PLANTS AND MINDS BALANCE SHEET AS AT31 JANUARY2024 2024 2023 Notes Fixed assets Tangible assets 12 908.866 974,602 Current assets Stocks Debtors Cash at bank and in hand 13 14 129,787 28.705 309,650 138,015 27.637 314.956 468,142 480,608 Creditors: amounts falling due within one year 15 93,225 54,261 Net current assets 374.917 426.347 Total assots less current liabilities 1.283,783 1,400,949 The funds of the charitable company Restricted income funds Unrestricted funds - general Unrestricted funds - designated 19 736.457 347,113 200,213 817,465 385,350 198,134 18 1,283,783 1,400,949 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 January 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476. These financial statements have been prepared in accordano with the provisions applicable to companiès subject to the small companies regime. The financial statemonts were approved by the trustees on .. es Robinson (Chair) Trustse Company registration number 2449757 (England and Wales)
PLANTS AND MINDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2024 Accounllng pollcies Charity inforniatlon Plants and Minds is a private company limited by guaranl6e incorporated in England and Wales. The registered office is Cherry Tree Nursery, Off New Road Roundabout, Northboume, Boumemouth, Dorset, BH10 7DA. 1.1 Accounting convention The financial statements have b8en prepared in aGcordance with the charitable companWs goveming document, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" (°FRS 102.) and the Charities SORP 'Accounting and Reporting by Charities= Ststement of ReGommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019). The charitable company is a Public Benefit Enlity as defined by FRS 102. The financial ststements are prepared in sterling. which is the functional currency of the charitable Gompany. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going Conrn basis of accounting in preparing the financial statetnents. 1.3 Charitable funds Unrestricted funds ara available for uso at the discretion of the trustees in furtherance of their charitable objectives. Designated funds compiise tunds which havo been set aside at the discretion of the trustees for specific purposes. Th8 purposes and uses of the designated funds are set out in the notes to the financial statements. Resthcted ftjnds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the rastricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capFtal must b6 maintained by thè charitable company. 1.4 Income Income is recogniséd when the charitable company is legally entitlèd to it after any perfomance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. L8gacias are re¢ognised on receipt or otherwise rf the charitable company has been notified of an impending distribution. the amount is known, and reIpt is expected. If the amount is not known, the legacy is treated as a contingent asset 10-
PLANTS AND MINDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Accounting policies (Continued) Gifts in kind donated to the charity for Its own use are included in the Statement of Financial Activities at their fair value at the point of donations. Donated services and facililies are only included rf the charity would otherwise have had to purchase them and the benefit can be measured reliably. The value is the estimated value to the ch8rtty of the seNice or facility received. 1.5 Expenditure Expenditure is recognised once there is a legal or constnjctive obligation to make a payment to a third paty, tt is probably that settlement will be required and the amount of the obligation can be measured reliably. Support costs are those functions that assist the work of the charity but do not directty undertake charitable activities. Support costs include ofTice costs and govemance costs. Support cosls are allocated between the charitsble activities on an actual basis where that can be detemiined. othernise split proportionately behveen the two nurseries. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Land and buildings Office equipment and tumiture Motor vehicles 10 years straight line or lease tem rf longer 3 to 10 years straight line. 3 years straight line. The gain or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carrying value of the asset, and is recognised in the ststemenl of financial activities. 1.7 Impalmient of fixed assets At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whelher there is any indication thal those assets have suffered an impairment loss. If any such indication exists. the reGoverable amount of the asset is estimated in order to determine the extent of the impairment loss (rf any). 1.8 stocks Stocks are stsled at the lower of cost and estimated selling pri less costs to compl8te and sell. Cost comprises direct materials and, where applicab18. direct labour costs and those overheads that have been incurred in bringing the stocks to their presenl location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cosL Net realisable value is the estimated selling pri less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank ovardrafts are shown within borrowings in current liabilities. 11
PLANTS AND MINDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policles (Continued) 1.10 Financlal instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable Company's balance sheet when the chaiitable company becornes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settte on a net basis or to realise the asset and setue the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are SLSbsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fulure receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Guent liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade credilors are recognised inwtially at transaction price and subsequently measured at amorlised cost using the effective interest method. Derecognition of flnancial liabilities Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entsuement is recognised in the period in which the employee's services are reived. Termination beneffts are recognised immediately as an expense when the charitable company is demonstrably committed to temiinate the employment of an employee or to provide temiination benefits. 1.12 Retirement benefits Payments to defined contribution retirem8nt benefil schemes are charged as an expense as they fall due. 12-
PLANTSAND MINDS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUAR Y 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml{absorbed by) operations 23 4,539 {45.779) Investing actlvities Purchase of tangibla fixed assets Investment income received (17,201) 7.357 (15,670) 3,002 Net cash used in investing activities {9,844) (12,668} Net cash used in financing activities Net decrease in cash and cash equivalents (5,305) (58,447) Cash and cash equivalents at beginning of year 314.956 373.403 Cash and cash equivalents al end of year 309,650 314,956 13-
PLANTSAND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Critical accounting estlmates and Judgements In the application of the charitable company's accounting policies. the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the estimate is revised where the revision affeGt5 only Ihat period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements Stock Stocks are valued at the lower of cost and net realisable value. Net realisable value includes. where necessary, provisions for Ihe condition of plants. Calculation of these provisions requires judgements to be made which includes estimating the future quality of the plants Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants receivable Donated goods 8nd serVIS 44,634 16,291 250 60.925 250 43,827 8,404 12.985 52,231 12,985 691 691 44,634 16,541 61.175 44.518 21,389 65,907 Donations and glfts Cooper Dean Charitable Foundaton Broadstone Golf Club Mr and Mrs M Clifford Boumemouth Free Church The Holdenhurst Charity Barclays Match Scheme Smaller Donations including Gift Ard 10.000 10.000 2,772 2,TT2 2.100 2.000 2,000 2.100 4,000 1.500 2,441 4.000 1,500 2,441 4.000 1.500 4,000 1.500 36,693 4,291 40,984 36.227 5,632 41,859 44.634 16.291 60,925 43,827 8,404 52,231 14-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Income from donations and legacies (Continued) Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Grants receivable for core activities ESFA Community Training Grant Olher 11,885 1.100 11,885 1.100 250 250 250 250 12,985 12,985 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Charitable Actlvlties Sale of goods SeNices provided under contract Fundraising Other income 739,338 739,338 643.466 643.466 18,085 37,373 867 18,085 37,373 6.025 18,085 24.524 18.085 24.524 5,158 795,663 5,158 800.821 686.075 686.075 Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Interest receivable 7.359 3,002 15-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publicity Seeking donations, grants and legacies 2.413 1,911 Expenditure on charitable activities Charitable Activities 2024 Charitable Activities 2023 Direct costs staff cosls Depreciation and impairment Nursery cost of sales Promotional expenses Open day expenses Nursery maintenance Protective dothing Other Staff costs Rent Water rates Volunteerfs welfare Volunteerfs advi Outings and social events Travel and subsistence Volunteer training 384,318 82,939 317,137 3.472 152 61.035 142 8.734 1,883 8,775 4,842 10,079 2,061 5,452 547 373,880 82,231 259,699 3,746 18 16,190 283 2,101 11,217 4,512 10,034 2.547 4,937 9,865 891,568 781,260 Sharn of support and governance costs {see note 8) Support Govemance 90,175 2,365 46.403 2.050 984,108 829.713 Analysis by fund Unrestricted fiJnds- general Unrestricted funds - designated Restricted funds 871,974 9.427 102,707 729,213 9.493 91.007 984,108 829.713 16-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Support costs allocated to activities 2024 2023 Staff costs Accountancy fees Light, heal and cleaning Motor expenses Equipment hire and rental Printing. postsge and stationery Telephone Bank charges Insurance Sundry Intsmet Independent Examination fees 20,844 2,213 13.175 7,094 2,357 5,729 3.267 1,172 9,200 3,896 2,323 5,119 2,680 7,874 12,429 1,458 251 2.050 13,448 12.560 2,365 92.540 48.452 Analysed between: Charitable Activities 92,540 48.453 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitsble company during the year. 17-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 10 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number Total number of posts 18 18 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 372,035 24,136 8,991 342,666 23,042 8,172 405.162 373.880 Remuneration of Key Management Personnel, including employerfs National Insurance and employerfs pension contributions. totslled £72.647 (2023- £71.716). There were no employees whose annual remuneration was £60,000 or more. 11 Taxation The charity is exempt from taxation on its activities because all tts income is applied for charitable putposes. 12 Tangible fixed assets Land and Office bulldingsequipmont and fumlture Motor vehicles Total Cost At 1 February 2023 Additions 1,631.217 11.506 112,098 5,695 21,174 1,764,489 17.201 At 31 Jar¢uary 2024 1,642,723 117,793 21.174 1.781.690 Depreciation and impainnent At 1 February 2023 Depreciation charged in the year 693.342 69,094 75,370 13.844 21.174 789,886 82,938 At 31 January 2024 762,436 89.214 21,174 872.824 Carrying amount At 31 January 2024 880.287 28,579 908,866 At 31 January 2023 937,875 36,727 974,602 18-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 12 Tanglble fixed assets (Continued) 13 Stocks 2024 2023 Finished goods and goods for resale 129,787 138,015 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepaymenls and accrued income 8.578 8,564 11,563 16.064 11,573 28,705 27,637 15 Creditors: amounts falling due within one year 2024 2023 Notes Other tsxation and social security Deferred income Trade creditors Other creditors Accruals 7,282 9,515 58,417 50 17,961 5.915 9.229 27,923 16 11,194 93,225 54.261 16 D8ferred incomo 2024 2023 Other deferred income 9,515 9.229 Deferred income is included in the financial statements as follows: 2024 2023 Deferred income is induded within: Current liabilities 9.515 9.229 Movements in the year. 19-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 16 Deferred inGome (Continued) Deferred income at 1 February 2023 Released from previous periods Resources deferred in the year 9,229 {9,229) 9.515 9,439 (5,343) 5,133 Defeed income at 31 January 2024 9,515 9.229 17 Retirement benefit schemes Defined contributlon schemes The charitable company operates a defined contribution pension sGheme for all qualtfying employees. The assets of the scheme are held separately from those of the charitable cx)mpany in an independently administered fund. The charity has established a Workpla pension scheme with NEST. Employeas are invited to join and ntributions are paid in accordance with rules goveming workplace pensions schemes. 18 Unrestricted funds - designated These are unrestricted funds which are material to the charitable company's activilies. These include designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes. At 1 February 2023 Resources expended Transfers At 31 January 2024 Chery Tree Nuf5ery: Capital Chestnut Nursery: Capital 2,230 195,904 (120) (9.307) 11.506 13.616 186.597 198,134 (9.427) 11.506 200.213 Previous year". At 1 February 2022 Resources expended Transfers At 31 January 2023 Ch8rry Tre& Nursery: Capitsl Chestnut Nursèry: Capital 2.302 205,325 (72) (9,421) 2,230 195,904 207,627 (9.493) 198.134 -20-
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 19 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 February 2023 Incoming resources Resources expended Transfers At 31 January 2024 Cherry Tree Nursery: Capital Fund Buildings and equipment funds Nursery activities Volunteer actwities CAB Advisor Chestnut Nursery= Capital Fund Buildings and equipment funds Nursery Maintenance 362,978 28,708 (17) 8,366 (45,589) (6.381) 17 (10.507) (250) 127.923) {12,024) {50) 1,136 (1,136) 318,525 23,543 2,352 5,447 250 3,306 414.180 3,250 4.550 (4.550) 390,807 276 13.600 50 817,465 21.699 (102,707) 736.457 Previous year: At 1 February 2022 Incoming resources Resources expended Transfers At 31 January 2023 Chery Tree Nursery: Capital Fund Buildings and equipment funds Nursery activities Volunteer activities CAB Advisor Chestnut Nursery: Capital Fund Buildings and equipment funds Volunteer.activtlies 395.761 31.176 (17) 14.813 (44.972) (2.449) 12,189 {4,012) 362,978 28,708 {17) 8,366 3,993 15,874 1.100 (14.144) (1.100) (27.763) {247) (333) (8,177) 438,463 6,767 121 3,480 (3.480) 414,180 3,250 210 212 887,084 21.389 (91,008} 817.465 Capital funds represents the Net Book ValLte of fixed assets already purchased from restricted grants and donations and does not reflect unspent funding. 21
PLANTS AND MINDS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 20 Analysis of net assets between funds Unrestricted Unrestricted funds funds general Designated 2024 2024 Restricted funds Total 2024 2024 Fund balances at 31 January 2024 are represented by.. Tangible assets Current assetsl(liabilities) 200,213 708,653 27.804 908,866 374,917 347,113 347.113 200,213 736,457 1,283,783 Unrestricted Unrestricted funds funds geneTal Designated 2023 2023 Restricted funds Total 2023 2023 Fund balances at 31 January 2023 are represented by: Tangible assets Cutrent assetsllliabilities) 198,134 776.468 40.997 974,602 426,347 385.350 385,350 198,134 817.465 1.400.949 21 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balanS of donations and grants which are nol subject to specific conditions by donors and grantors as to how they may be used. At 1 February 2023 Incoming resources Resources expended Transfers At 31 January 2024 General funds 385,350 847,656 {874.387) (11,506) 347.113 Previous year: At 1 February 2022 Incoming resources Resources exponded Transfers At 31 January 2023 General funds 382,879 733,595 {731.124) 385,350 22 Related party transactions There were no disclosable related party transactions during the year (2023 - non8). -22-