Annual Accounts 2011-2012 (pdf - 973 kB) - Royal Botanic Garden ...

The Royal Botanic Garden Edinburgh 

ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 

for the year ended 31 March 2012 

CONTENTS Page 

Report of the Board of Trustees incorporating Foreword 3 

Remuneration Report 16 

Statement of Board’s And Regius Keeper’s Responsibilities 19 

Governance Statement 20 

Independent Auditor’s Report 24 

Consolidated Income and Expenditure Account for the year ended 

31 March 2012 

Consolidated Statement of Financial Activities for the year ended 31 

March 2012 

Balance Sheet as at 31 March 2012 28 

Statement of Recognised Gains and Losses 


Consolidated Cash Flow Statement for the year ended 31 March 

2012 

Notes to the Accounts for the year ended 31 March 2012 30 

Accounts Direction 47 

26 

27 

29 

29


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The Royal Botanic Garden Edinburgh - Annual Report and Accounts for the year to 31 March 2012 

Report of the Board of Trustees incorporating Foreword 

The Royal Botanic Garden Edinburgh (RBGE), founded in 1670, is a renowned centre of 

excellence, recognised by its peers as one of the world’s four most important research botanic 

gardens. Working through active partnerships in over forty countries it is focused on 

researching and protecting the plant diversity that sustains all life on our planet. It has been at 

the forefront of international initiatives to conserve plants under the UN Convention on 

Biological Diversity (the CBD). RBGE recognises that it has a unique opportunity in Scotland, 

as a research institute that also provides four leading visitor attractions, to engage with the 

public and enlist their support in tackling global environmental change. It delivers an extensive 

programme of formal and informal educational activities in response to this opportunity. The 

RBGE continues to maximise value for money through prudent expenditure decisions; strong 

investment from the Scottish Government and the success of our strategies has enabled the 

RBGE to make a strong contribution to National Outcomes. It continues to make strenuous 

efforts to increase delivery by building upon the Grant-in-Aid it receives through strategies for 

increasing self-generated income. This has been particularly important in the current climate of 

restricted public funding. Sustained investment in our infrastructure and people will allow us to 

build on this success. 

The RBGE is a Scottish charity under the provisions of the Charities and Trustee Investment 

(Scotland) Act 2005 and is registered as Scottish Charity number SC007983. RBGE has two 

wholly owned subsidiaries: the Botanics Trading Company Ltd (BTC) which carries out retail 

and catering activities across the four gardens; and the Centre for Middle Eastern Plants Ltd 

(CMEP) which was set up to exploit commercial opportunities employing our scientific, 

horticultural, and educational skills in that region, where there is a clear demand. During the 

year it became apparent that CMEP’s continuing losses were becoming unsustainable and it 

was decided to put the company into a dormant phase with the accumulated losses being met 

from a grant from RBGE. With effect from 1 January 2012 responsibility for delivering CMEP 

projects was moved within RBGE. BTC donates its taxable annual profits to RBGE in 

accordance with the Government’s Gift Aid legislation and both companies’ financial results are 

consolidated into the annual accounts. 

The remit of RBGE is set out in the National Heritage (Scotland) Act 1985, which empowers the 

Board of Trustees, who are appointed by Scottish Ministers: 

a) To carry out investigation and research into the science of plants and related subjects and to 

disseminate the results of the investigation and research. 

b) To maintain and develop collections of living plants and preserved plant material, books, 

archives and other related objects. 

c) To keep the collections as national reference collections and make them available for the 

purposes of study. 

d)To provide advice, information and education in relation to any aspect of the science of plants 

or of any related subject. 

e)To provide other services (including quarantine) in relation to plants. 

f)To allow members of the public to enter the gardens for the purpose of gaining knowledge and 

enjoyment from the collections. 

From the 1985 Act the Royal Botanic Garden Edinburgh derives its mission: exploring and 

explaining the world of plants for a better future. 

Strategy and Planning 

The Corporate Plan developed during Financial Year 11/12 continued with the successful format 

employed during the previous financial year in that it aligned our strategic objectives with those 

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of the Scottish Government. The Board of Trustees and Senior Management feel that this was a 

very valuable exercise both in demonstrating what the RBGE has to offer and in documenting 

the diversity of the Garden’s contribution to society. Building on the success of this format of 

plan a revised and slightly simplified version was developed for the forthcoming year, FY 

2012/13, (http://www.rbge.org.uk/assets/files/about_us/Corporate%20Plan.pdf). 

The RBGE employs our adapted version of the Balanced Scorecard (a strategy formulation and 

performance management framework in common use across the globe) which is organised into 

five perspectives (Scottish Government National Outcomes, Impacts, Activities, Resources and 

Governance) and translates our mission and strategy into achievable objectives and measures. 

It is a framework for communicating the mission and strategy internally and externally, and uses 

measurements to drive RBGE’s current and future success. The perspectives of the Scorecard 

allow a balance between both short and long term objectives, and between the ultimate impacts 

we desire and the contributing activities and inputs. In the RBGE’s Strategy Map our objectives 

from the Balanced Scorecard are linked to show the cause and effect relationships between 

RBGE’s Impacts, Activities, Resources and Governance. These are shown to be aligned 

upward to contribute to the eleven Scottish Government’s National Outcomes in order to help 

make Scotland a better place to live and a more prosperous and successful country. 

Additionally, the strategic objective costing model makes it possible to report to the Board and 

Scottish Government where our organisational efforts were being directed and the impact those 

efforts make on the Strategic Objectives by matching up the input and output costs of the 

objectives and their associated KPIs. 

To track progress against these objectives performance measures were identified by RBGE to 

provide evidence of achievement; these are reproduced in the table below. What can be seen is 

a successful year for the RBGE. Visit numbers were above both target and last year’s 

achievements. We retain serious concerns about our carbon footprint which is caused by our 

aging and inefficient glasshouse structures. Although feasibility studies have been carried out to 

support an application for a major capital grant, of around £40m, from Scottish Government for 

our Masterplan project, capital funds are in short supply and although Scottish Government 

have been unable to fund this work for the time being, £1.5m was released in FY 12/13 to fund 

planning and early enabling works. We wish to carry out this project to comply with Scottish 

Government’s “Green Agenda”, to meet CO 2 emission targets, and to reduce running costs at 

the RBGE. As with the £15.7m Gateway building, investment will lead to enhanced income 

generation. 

Our strategy during the last year has been to continue prioritising income generation over 

traditional botanic garden activities to meet the reduction in public funding of £500K in FY12/13 

and potential further reductions. This has been highly successful with very significant income 

streams arising from these activities. A Voluntary Exit Scheme was approved and funded by 

Scottish Government during the year to permit a limited number of staff to leave early thereby 

generating cash savings during the next financial year. Twenty seven members of staff applied 

for the scheme and twenty accepted the offers. 

Performance Management 

Directly linked to the Corporate Plan, RBGE employs a performance management system, the 

Executive Strategy Manager, which has been in use since FY10/11 and is primarily to assist 

the Senior Management Group with its decision making. Information is put into the on-line 

system by appropriate managers and staff across the organisation and reviewed on a monthly 

basis by Divisional Directors and then by the Senior Management Team. A reporting format 

has been developed and used to generate reports to the Board of Trustees bringing together 

current risk assessment, performance measures and the identification of strategic issues that 

require a response. 

The staff performance management process ensures that the RBGE’s goals are reflected in 

individual staff members’ forward job descriptions, annual objectives and career development 

requirements. Midyear and end of year meetings with Reporting Officers ensure that objectives 

remain on course for completion. Staff record the time they have spent on different activities in 

an on-line system integrated with the Executive Strategy Manager so that RBGE can now 

report on the costs of meeting its specific objectives. 

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The Royal Botanic Garden Edinburgh Report on KPIs 

National Outcome 

Business 

Employment 

Opportunities 

Research and 

Innovation 

Young People 

Children 

Healthier 

Performance 

Indicator 

Value added to the 

Scottish economy 

based on formula 

provided by DTZ 

Number of employees 

(FTE) 

Achievement 

2010/11 

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Plan 

2011/12 

Achievement 


Plan 


£25.15 £29.00 £25.90 £21.02 

million million million million 

242 236 245 245 

Number of volunteers 222 220 251 250 

Total number 

of publications 

Number of pupils on 

school visits 

Number of 

visits to the 

four gardens 

by children under 16 

Lives four gardens 

Minimum 

performance 

Sustainable Places 

certificate standard of 

all RBGE buildings 

Environment 

National Identity 

Environmental 

Impact 

Public Service 

219 192 223 192 

9,140 9,000 12,387 10,000 

35,081 38,925 44,462 47,500 

Numbers of visits to 

the 820,526 802,000 889,257 950,000 

Percentage of staff 

and public using 

sustainable transport 

Number of 

Accessions in the 

Living Collection 

Cumulative number 

of Specimens images 

digitised and put online 

Tonnes of CO2e 

produced 

Cash releasing 

Efficiencies 

Highlights from our Key Activities 

Biodiversity Research 

G G G C+ 

Public: 63% 

Public: 

64% 

Public: 64% Public: 64% 

Staff: 52% Staff: 54% Staff: 54% Staff: 54% 

34,805 34,100 34,507 34,100 

92,778 134,000 157,814 194,000 

3,541 3,921 3,153 3,877 

£706,139 £857,616 £548,045 £519,000 

RBGE has an international programme of scientific and horticultural research delivering 

biodiversity science to underpin conservation and making a major contribution to practical plant 

conservation, both within Scotland and overseas. This is embraced within RBGE’s ‘Biodiversity 

Strategy 2010 – 2015’. Our fundamental research - “Understanding our planet” –is contributing 

to the complete inventory of plant species on earth and to an understanding of their evolution. 

This research is enabling RBGE to meet four significant global environmental challenges: 

1. biodiversity loss - dealing with habitat loss and fragmentation in the quest to halt 

species extinction, 

2. climate change - minimising plant biodiversity loss in the face of climate change and 

global warming,


3. sustainable use - wise exploitation of plants so they are still available for future 

generations, and 

4. ecosystem services - preserving the function of Earth’s biosphere and ecosystems. 

RBGE’s international programme of research attracts scientists and horticulturists from many 

countries to work on collaborative projects and contribute to the knowledge associated with the 

rich living and preserved collections at RBGE. With the support of external funding we have 

been able to digitise and database herbarium specimens from priority geographical and 

taxonomical areas. Over 28,000 herbarium specimens were digitised during the reporting 

period, mostly funded by external grants, we now have over 158,000 specimens imaged and 

available at our website. In addition the new technology of high resolution digital imaging has 

been incorporated into existing work flows. One example of this has been the reduction in the 

number of specimens sent out on loan from 4,276 for the year 2010/11 to 1,777 for 2011/12 

which has provided significant savings in our postage bill. Our collection backlog of unmounted 

incoming material has continued to rise due to large gifts from other international herbaria in 

addition to the continuing steady flow of incoming specimens from staff and colleagues. 

RBGE’s key role in plant identification is being revolutionised through the application of DNA 

barcoding tools, particularly for small, less charismatic organisms like lichens and bryophytes. 

The RBGE has a global role in this emerging and fast moving field. At the same time we 

continue to make progress on unravelling the histories of plant diversity in the tropics, in Latin 

America, Asia and Africa and producing fundamental taxonomic outputs in the forms of floras 

and monographs. The resulting total of 223 publications reflects a wide range of peer reviewed 

scientific papers, popular articles, book chapters and books. One of the several books published 

in this reporting year by RBGE was the first volume of the Flora of Nepal which reflects a 

considerable increase in the information now available for the plants of Nepal. 

Grant income of £928,851 was received for the past year compared to £1.01m in FY 10/11. 

Most of this grant income was for biodiversity research. 

At the end of the year the Living Collection comprised 347 plant families, 2699 genera, 13,302 

species and 17,257 taxa, from 152 countries. New material was obtained from 67 countries and 

especially from Chile, south west USA and eastern USA. A large stocktaking exercise was 

undertaken during the year in readiness for production of the Catalogue of Plants 2012, due to 

be published later in the year. This exercise provides reassurance that those plants cited as 

alive in the plant records database really are alive and growing in a particular garden area. The 

Living Collection has been used for a wide range of biodiversity research, particularly species of 

Begonia, Zingiberaceae, Gesneriaceae and conifers. During the year the target to ‘data capture’ 

at least 1,000 accessions was reached. Although the work is detailed and time consuming, the 

process of preserving a leaf sample for future DNA analysis, taking photographs of key 

characteristics and making an herbarium specimen is considered a vital part of maximising the 

research potential of the Living Collection. As part of our environmental work surveys of birds, 

bees, moths, butterflies and hoverflies were undertaken in the garden during the last year (full 

listings are being published and will be available from Mill, R. (2012). Biodiversity recording at 

the Royal Botanic Garden Edinburgh, Sibbaldia, 10, due to be published in October 2012). 

Conservation 

RBGE contributes to the objectives of the Convention on Biological Diversity (CBD) at the 

ecosystem, species and genetic levels through research and by developing policies and 

practices for protecting biodiversity and halting its loss. As a consequence of our expertise we 

are able to inform both public and professional audiences about the importance of plant 

conservation and the ways in which they themselves can contribute; the RBGE has developed 

models with protocols for plant conservation and sustainable use. We have produced 

conservation reports for government agencies and helped develop habitat protection strategies, 

including conservation initiatives at local level. We work with conservation agencies at all stages 

of their projects. We build capacity in Scotland and abroad for the conservation of plant 

biodiversity; this responds directly to the needs of users who wish to access our expertise. 

Much of RBGE’s conservation work directly supports the 16 targets of the Global Strategy for 

Plant Conservation (GSPC). In particular, over the last reporting year, RBGE has taken a lead 

with 3 other international institutions on target 1, which is to produce an online Flora of all 

known plants. Target 2, an assessment of the conservation status of all know plant species, has 

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already become part of almost all taxonomic accounts being published by RBGE staff and 

students. 

Over the past year we have continued to engage in a wide range of Knowledge Exchange 

activities raising awareness of the importance of biodiversity in conservation, especially, but not 

exclusively in the John Hope Gateway. Highlights of the reporting year included Scotland’s first 

festival of science and food called “Science on a Plate” and the annual Edinburgh International 

Science Festival. Partners from other institutes in biodiversity and conservation in Scotland 

joined NGOs and universities in events and activities across all four gardens. 

Learning 

‘Explaining the world of plants’ remains at the core of RBGE’s mission statement and our formal 

education programmes cover a full spectrum of learners, from pre-school to post-graduate 

study. Through our programmes, we are producing horticulturists, botanical illustrators, 

botanists and taxonomists with the skills that can address the environmental challenges of the 

21st century. As our students graduate and move out into the international workplace, this in turn 

maximizes the economic potential of our employees and students and boosts the reputation of 

RBGE and Scotland abroad. We remain the only botanic garden in the world offering an entire 

BSc (Hons) in Horticulture course and we currently have 58 students across the four year 

programme. Within our postgraduate programmes, we currently have 15 students on our 

University of Edinburgh MSc and another 15 PhD students registered at several universities. 

Our extensive range of continuing education courses enhance the lives and provide lifelong 

learning to more than 1,000 adult learners, predominantly in Scotland, on subjects ranging from 

practical horticulture and field botany to botanical illustration and garden history. Over the last 

five years we have developed a series of our own RBGE Certificate and Diploma courses, 

which are proving to be highly successful both in the UK and abroad. 

Our schools programmes support plant science and ecology topics to over 12,000 children 

annually across the National Curricula. This figure is increasing year on year as we develop 

more programmes within all our four gardens. We also provide in-service training for teachers 

who would not otherwise be able to access plant-science teaching skills. Our expanding 

Schools Gardening Programme brings children into the Botanics to learn about plants through 

the growing of vegetables. We have now started a programme of significant expansion in this 

area, with the establishment of partner schools bringing children each week to garden at RBGE. 

Our international work continues to integrate our horticultural and scientific expertise, teaches 

and advises countries how to develop and manage their own botanical gardens, herbaria, 

conservation projects and biodiversity research. There are some significant development 

projects taking place at the moment within Education: the Demonstration Garden is currently 

being re-invented, with master planning taking place now for how it will develop. This links to the 

rebuilding of the Botanics Cottage, which will form the hub for the new space. The vision is the 

“creation of a designed space within RBGE where visitors and learners of all ages can interact 

and engage with living plants in a variety of ways”. We are also finalising RBGE’s new on-line 

virtual learning environment (VLE), ‘PropaGate’ that will go live in September 2012. This links 

extremely well to our ever expanding use of social media to get our educational messages 

across. In February 2012 formal Education, merged with Events, Exhibitions and Interpretation 

into a new Learning Sub-Division within Horticulture. This is an exciting move that will allow us 

to coordinate all our learning activities into one offer promoting the importance of awareness 

about the natural world, climate change, biodiversity loss and how to contribute to conservation 

and sustainability. 

National Heritage 

The living, herbarium and archive / library collections cared for by RBGE represent a unique 

component of Scotland’s national heritage; RBGE is designated a National Collection by statue. 

The herbarium and archive / library collections comprise preserved plants, botanical books, art, 

correspondence and photographs (a significant proportion of which are of exceptional rarity). 

This year, research on the archive of John Hope (1725-1786), one of the RBGE’s most 

outstanding Regius Keepers resulted in a book being published and also an exhibition. In 

addition, RBGE holds in trust for the Nation several important listed buildings set in beautiful 

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landscapes which we aim to maintain to the highest standards. All four gardens are listed as 

‘Outstanding’ works of art and for horticultural interest in the Inventory of Gardens and Designed 

landscapes in Scotland, published by the Countryside Commission for Scotland and the Historic 

Buildings and Monuments Directorate, Scottish Development Department. The Botanic Cottage 

(the Head Gardener’s cottage at the former Leith Walk garden), the Golden Gates at Benmore 

and the Tropical Palmhouse are all on our list of buildings requiring restoration in the coming 

years. From a living collections perspective, these four outstandingly curated gardens also 

provide a safe haven for many species of plants, birds, and animals which constitute our 

biodiversity and these are now monitored on a regular basis as part of our Environmental 

Management System. The herbarium and library / archive contain collections are a unique 

source in Scottish terms and rank amongst the top ten international collections of their type. 

Due to their worldwide range, national and international research scientists come to study the 

material in the collections. 

Our excellent estate complements our international reputation for our research activities. There 

are two KPIs. The first related to the number of accessions in the Living Collection and the 

percentage on-line. The target was 34,100 accessions with 100% on-line. The achievement 

was 34,507 with all 100% being available on-line. Over the past 10 years RBGE has been 

making available the collection data relating to herbarium specimens and now approximately 

20% of the estimated 3 million specimens are represented by some data online. A major 

digitisation programme at RBGE, with investment from external funds and the Scottish 

Government, has now resulted in making images of 157,814 of these specimens available 

online, up from 92,778 last year. These images are taken at very high resolution, enabling 

scientists around the world to examine the specimens in remarkable detail. 

Of the Garden’s many historic buildings and heritage collections it is worth noting that the two 

listed Palm Houses and the 1967, and now listed, ‘Front Range’ display glasshouses escaped 

serious damage in the 3 January gales which did so much damage to our research 

glasshouses. The Golden Gates at Benmore have been the subject of much planning and 

fundraising and it is pleasing to report that they will be fully restored, and the surrounding 

landscape improved, during next year. It is worth noting that the entire cost of gilding was raised 

from external, not public, funds. John Hope’s Botanic Cottage has continued to be the subject of 

much planning and discussion and opportunity of rebuilding it now rests on the success of a 

recently submitted Heritage Lottery Fund application. 

Improving Quality of Life 

RBGE with its four well maintained gardens makes a major contribution to the quality of life for 

both citizens in, and visitors to, Scotland. Our public offer provides people with the opportunity 

to enjoy plants, green spaces, art, exhibitions and beauty. Our gardens provide the opportunity 

to enjoy fresh air and nature and to escape from the pressures of modern life which is 

conducive to improved health and therefore a sustainable lifestyle. Relaxation and stress 

reduction are known be one of the benefits of visiting gardens while it also represents a good 

source of physical activity helping to combat obesity which is a serious threat to the nation’s 

health. Garden visiting means added activity for young children who often lack physical 

exertion, adults who need more of it and seniors who are looking for ways to increase daily 

movement. Our gardens are of special interest to gardeners seeking horticultural ideas and 

information and home gardening also helps relaxation, stress reduction, weight loss and general 

fitness. We offer volunteer programmes in many areas of the Garden such as in the Herbarium 

and Library as well as in the garden itself. A modern apprenticeship scheme is providing 

valuable opportunities for young people. We help our staff live healthier lives through active 

management of our Healthy Working Lives programmes. To further enhance quality of life 

issues a decision was made during the previous year to transform our Demonstration Garden 

(which displayed plants exhibiting particular botanical features) into a more interactive Teaching 

Garden. Plans are now developing and the area already includes themed plots such as 

student’s vegetable plots, a fruit garden for demonstration and practical classes and a Postcode 

Lottery funded Plot to Plate patch which is being used for teaching on fruit and vegetable 

cultivation, workshops, demonstrations and classes run in conjunction with exhibitions and 

workshops in the John Hope Gateway (for instance during the Science Festival this year). The 

KPI for this impact is the number of visits to the four gardens and the target for the year was 

802,000 and the figure achieved was 889,257, an increase of 8% over the previous year, 

showing that we achieved the target. 

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Visitor Attraction 

Our four gardens are recognised as leading Scottish visitor attractions and RBGE is committed 

to enhancing its public offer and improving its status as a “must see” destination for tourists from 

home and abroad. Already the Gardens attract nearly 900,000 visits annually, attracting a mix of 

local residents, national and international visitors. The quality of visit for all ages is 

communicated through marketing initiatives ranging from press advertising to leaflets at key 

tourist outlets, hotel packs, regular e-newsletters and a user-friendly website. This marketing is 

backed-up with ongoing press coverage. 

Revenues derived from retail and catering spend at each of our sites forms the core of our 

Enterprise strategy. Total income from admissions showed only modest growth this year, with 

mixed results from our four locations. Regional sites returned decreases in visits and 

admissions income, while Edinburgh received an increase of 13% in visits and an increase in 

Glasshouse income of 17%. The increase in visitation also helped the Botanics Trading 

Company return an increase in trading profit of 12%, compared to last year. 

Sustainable Places 

The Garden continues to prepare for accreditation under ISO14001. In the meantime specific 

projects or initiatives continue to improve our sustainability. Dawyck was awarded Silver in the 

Green Tourism Award scheme in the previous financial year and this year has been making 

preparations to increase this to Gold, while also helping Logan toward a Silver award which we 

hope to achieve next year. Final plans were also developed to install a wind turbine in Logan 

during the year and this will happen next financial year. At Dawyck final surveying and planning 

were undertaken with a view to installing a hydro electric scheme in the financial years 2013/14 

and 2014/15. The poor quality of our research glasshouses at Edinburgh meant that our 

buildings are still listed with a performance certificate of ‘G’, the worst possible score. As noted 

in the Biodiversity research report above, a number of wildlife surveys have been undertaken at 

Edinburgh with a view to recording those species that inhabit the Garden in addition to the 

plants. The results show that the Garden is a very important piece of urban greenspace for a 

number of species. Waste and recycling continue to be an important focus both within the 

offices and in the public areas of the Garden and systems have been streamlined during the 

year. Following production of a Carbon Management Plan in the previous year the Carbon 

Management Team has met on a regular basis to review performance and help drive down use. 

Much has been achieved during the year but much also remains to be done. 

Future Developments 

The RBGE has reflected in its Corporate Plan a number of future developments some of which 

will require funding before they are taken forward. Earlier capital investments show how 

investment will enhance RBGE’s long term viability. Future initaitves include the Masterplan - a 

programme of works which will significantly improve our ability to carry out research, reduce 

utility costs and our carbon footprint. This includes a nationally important educational 

initiative,the Scottish School of Botany and Horticulture. We also have ambitious plans for 

developing state-of-the-art Visitor Centres at both Logan and Benmore Botanic Gardens 

bringing in a much needed boost to tourism in these areas and the associated employment 

opportunities. At our Edinburgh Gardens we have a historic Lecture Theatre which needs to be 

restored to its former glory and modernised to meet client needs in what is a highly competitive 

market and at the same time will assist with income generation goals. During the course of this 

year a new Alpine House will be erected to offer a much improved display to our many visitors. 

Very recently, we have prioritised a Head of Marketing and Communications post and we 

expect to see a marketing strategy fully developed by the end of this calendar year. 

Financial Results and Appropriations 

The accounts have been prepared in a form directed by Scottish Ministers under paragraph 

20(3) of Schedule 1 to the National Heritage (Scotland) Act 1985 and on the basis of the 

accounting policies set out in note 1 to the accounts. 

During the year the Garden received grant in aid of £9.8m and capital grant of £1.3m. Other 

grants, gifts and donations of £1.4m were received; £1.3m was generated from admissions to 

the Regional Gardens, education courses, rents, concessions, membership income and other 

activities; trading and commercial activity contributed £0.9m. Staff costs amounted to £8.9m and 

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£4.6m was spent on other operating costs excluding depreciation. Capital expenditure of £1.3m 

was incurred. 

The consolidated accounts for the year show a deficit of £9.8m. This is because grant in aid for 

revenue purposes is credited directly to the General Fund rather than being shown as income 

on the face of the Income and Expenditure Account. Once this is allowed for, there is a surplus 

on the Income and Expenditure Account of £52k. 

The Botanics Trading Company made a profit of £381k (£340k in 2010-11) of which £380k was 

Gift Aided to RBGE. This represents an increase of 12% compared to the prior year and an 

increase on budget of 10%. The majority of the increase is attributed to strong growth within the 

private and corporate events sector and to recent capital investment in enhancing facilities 

including the Caledonian Hall, John Hope Gateway, Dawyck Visitor Centre and Benmore 

Fernery. 

The year to 31 March 2012 was the second year of trading for the Centre for Middle Eastern 

Plants. The aim of the company was to raise revenue through botanical consultancy. The 

intention was that this would be gift aided back to the Garden. During the year it became 

apparent that the continuing losses were becoming unsustainable and it was decided to put the 

company into a dormant phase with the accumulated losses being met from a grant within 

RBGE. With effect from 1 January 2012 responsibility for delivering the existing CMEP projects 

was moved back within RBGE. 

No important events have occurred since 1 April 2012 that will have an impact on these 

accounts. 

Fundraising Activities within Enterprise 

Fundamental to the success of the achievement of RBGE’s strategies is the need to generate 

income from a variety of sources. In addition to Grant-In-Aid, grants from research councils and 

commercial activities, the Enterprise Division aims to raise funds from membership and 

development activity. 

The financial year ending 31 March saw the first full year of operation for the Enterprise 

Division, having been established in autumn 2010. Membership subscription income for the 

year fell very slightly by 1.6%, despite an increase in overall membership numbers. Value for 

money was a key driver, with many members choosing family and concession subscription 

rates. 

A new Development Officer was recruited in April 2011, with experience in securing funds from 

Trusts and Foundations. Targeted applications to external funders helped to generate almost 

£280k towards RBGE capital projects, such as the new Alpine House and Rare Books Room in 

Edinburgh and the Logan conservatory project. A further £30k was secured from donations to 

our Commemorative programme. The role of Development Manager continued to be gapped for 

a second year, although a strategic decision was recently taken to recruit for this role with 

immediate effect, in support of expanding our fundraising capabilities. 

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Land and Buildings 

Land and Buildings are owned by Scottish Ministers. The land and buildings occupied by the 

Garden are leased to the Board with such conditions as permit adequate operational freedom 

for their needs. Information on land and buildings can be seen in Note 11. 

Estates Management Strategy 

The RBGE Estates Management Strategy sets out a plan that is affordable and sustainable 

using guaranteed funding. It has two elements, revenue and capital spend. Revenue elements, 

which include maintenance and utility costs, are managed by analysing monthly financial 

reports and adjusting commitments accordingly. It incorporates a ten year plan for capital works 

in support of the Garden’s Corporate Plan and documents the existing wide variety of built 

assets providing valuable data on these that allows maintenance planning and costing to be 

undertaken. This ten year plan is reviewed periodically when funding projections are made 

known to the Garden from Scottish Government. 

Other Fixed Assets 

Significant changes in other fixed assets are shown in Notes 11 and 12. 

Volunteers 

Volunteers continue to contribute greatly to the work of RBGE by providing additional support in 

education, horticulture and science development. There are currently 251 volunteers (up from 

222 in 2010-11). Within Horticulture there are a number of regular volunteers working 

throughout the Garden and glasshouses, helping to maintain plant specimens and contributing 

to the overall appearance of the Garden. Included within the Horticulture volunteer group is the 

continued expertise and assistance of the Garden Guides. In addition, in Education, Events and 

Science Communication there is a growing number of volunteers, who continue to lead and 

assist with a variety of events, including interactive demonstrations and educational mini tours 

of the Garden. RBGE continues to be greatly indebted to its volunteers for their commitment 

and hard work. 

Sustainability Report 

The Climate Change (Scotland) Act 2009 

In 2009 the Scottish Government set what remains, one of the most ambitious pieces of climate 

change legislation anywhere in the world, namely: 

The Climate Change (Scotland) Act 2009 commits Scotland to reduce its emissions by 

at least 80% from 1990 levels by 2050; with an interim emissions reduction target of at 

least 34% by 2020, increasing to 42% if the EU increases its 2020 target to 30% in the 

event of a global deal on climate change. 

Section 44 of Act places duties on Scottish public bodies in relation to climate change. 

From 1 January 2011 any public body, has, in exercising its functions, to act: 

�in the way best calculated to contribute to the delivery of the Act’s emission 

reduction targets; 

�in the way best calculated to help deliver any statutory programme for adapting to 

the impacts of climate change; and 

�in a way that it considers most sustainable. 

By way of meeting these duties RBGE shall include a report on sustainability within its Annual 

Report and Accounts. 

Page 11 of 47


Carbon Emissions 2011/12 

Buildings – Gas, Electricity, Oil etc 

Transport 

Further 

Sources 

Transport 

6% 

Further Sources 

6% 

Waste Minimisation and Management 

Buildings 

88% 

Expenditure 

CO2 (tonnes) % £ 

Page 12 of 47 

2,787 88% 511,554.65 

187 6% 237,893.17 

Waste 

Water 

39 

140 

6% 

15,347.05 

59,907.21 

3,153 100% 

Four waste audits were carried out in 2010/11. These led to expansion of recycling facilities for 

staff and public. Corporate and meeting rooms now have additional recycling bins. All staff are 

now able to recycle tea bags and coffee grounds in local kitchen areas. Education of staff and 

other users about recycling has also increased. Public recycling facilities have also increased to 

include a new facility in the John Hope Gateway foyer and in the main building in areas used by 

external groups for conferences and meetings. These facilities were funded by WRAP and Zero 

Waste Scotland as part of the Scottish Government Zero Waste Policy and were linked to a 

project which involved the audit of RBGE public recycling bins. 

Note the comparative figures below for kilogrammes of the listed materials uplifted for recycling. 

In all cases, with the exception of batteries there has been a reduction in the amount uplifted. 

2010/11 Recycled materials (kg): Cans: 360 Plastic bottles: 759 Paper: 11,190 Cardboard: 

11,552 Batteries: 2 x 5kg box. 

2011/12 Recycled materials (kg): Cans: 100 Plastic bottles: 672 Paper: 10,910 Cardboard: 

13,264 Batteries: 4 x 5kg box.


RBGE is increasing the levels of monitoring and recording each year. While individual elements 

such as glass and paper have been recorded for some time, the total amount of recycled 

material and the total amount going to landfill were only recoded from 2011/12 for the first time. 

A total of 25 tonnes of waste were recycled and total waste to landfill was 87.07 tonnes. As data 

for more years is recorded trends will become more apparent. 

The Procurement and Waste Environmental Management Groups (EMG) are working to reduce 

paper use with the aid of printer monitoring software purchased in 2010 which enables analysis 

of use with a view to reduction and staff awareness notices. 

The Procurement EMG has also ensured the procurement of clothing for horticulture staff, 

students and volunteers working in horticulture which is made from organically grown cotton 

and dyes and has fair trade accreditation. Environmental consideration is also sought in 

requests for funding for capital projects. 

Use of Finite Resources 

The carbon footprint for 2011/12 is 3,153 tonnes CO2 emitted, this is 89% of our emissions last 

year – which were 3,541 tonnes of CO2 emitted (any change from the figures given in reports 

last year is due to the change in conversion factors from resources used to carbon emitted). 

This is a significant reduction and we are delighted to see a reduction in the first full year of the 

implementation of our Carbon Management Plan. The reduction can be attributed to 

improvements in the heating system in House 20 and the relatively warm winter experienced in 

Edinburgh. 

RBGE has an advance payment contract arrangement with Business Stream water supplier. 

Water use across the four Gardens was 346,769 m 3 and the advance payment contract is 

£59,907. 

RBGE wrote a Carbon Management Plan in 2010. There are a number of projects underway as 

part of this which will reduce gas and electricity use once completed. An energy survey carried 

out in October 2011 has provided recommendations of how existing systems can be adapted to 

reduce energy use. Feasibility studies into biomass boilers at the Regional Gardens have also 

been completed and these projects will be implemented when resources allow. 

The Biodiversity Environmental Management Group has, in addition to the above surveys 

communicated with the Horticulture Department in order to consider local wildlife in accordance 

with the Biodiversity Duty in the maintenance of garden areas. This has included work on pond 

areas for dragonflies and damselflies and reducing horticultural intervention in areas where 

Badgers are active. 

Legal and Administrative Details 

PRINCIPAL OFFICE 


20A Inverleith Row 

Edinburgh, EH3 5LR 

BANKERS 

The Royal Bank of Scotland 

Goldenacre Branch 

2 South Trinity Road 

Edinburgh, EH5 3NR 

SOLICITORS 

Shepherd & Wedderburn W.S. 

Saltire Court 

20 Castle Terrace 

Edinburgh, EH1 2EG 

Page 13 of 47


Brodies LLP Solicitors 

15 Atholl Crescent 

Edinburgh, EH3 8HA 

AUDITORS 

Audit Scotland 

18 George Street 

Edinburgh EH2 2QU 

INVESTMENT ADVISERS 

Adam and Company Investment Management Ltd. 

22 Charlotte Square 

Edinburgh EH2 4DF 

Appointment of Auditors 

In terms of Schedule 1 to the National Heritage (Scotland) Act 1985, an auditor appointed by 

the Auditor General for Scotland audits the statement of accounts prepared by the Board of 

Trustees in respect of each financial year. Scottish Ministers lay copies of it and the auditor’s 

report before the Scottish Parliament. 

Payment Policy 

It is the Garden’s policy to settle all debts with its creditors within 30 days but wherever possible 

to comply with the Scottish Government requirement to pay within 10 days. During the year to 

31 March 2012 RBGE settled its debts on average 18 days. 

Investment Policy and Performance 

It is the policy of the Royal Botanic Garden Edinburgh to keep capital balances intact, and use 

only the income generated for expenditure related to the charity. The portfolio is managed by 

Investment Managers using a Total Return approach. During the year dividend income of £24k 

was received; the investments increased in value by 6%. 

Reserves Policy 

The Reserves of the organisation are explained in Note 1 of the accounts. The Trustees view is 

that a target level of £500k of unrestricted reserves is desirable to give the organisation 

flexibility to cope with funding fluctuations. This target has now been achieved; the unrestricted 

funds as at 31 March 2012 were £807k made up of £113k on the General Fund and £694k on 

the Board Reserve. 

Equal Opportunities Policy 

RBGE has always been committed to ensuring that all staff, volunteers, students and customers 

are treated equally irrespective of their sex, marital status, age, race, ethnic origin, sexual 

orientation, disability, religion or social background. In addition, and in fully complying with the 

Equalities Act 2010 and the public sector equality duty which came into effect from April 2011, 

RBGE also now includes the three new protected characteristics under our equalities banner – 

pregnancy and maternity, gender reassignment, and marriage and civil partnership. 

Although not covered by the specific duty of the Equalities Act, RBGE is committed to the 

general duty. To this end we endeavour to ensure the organisation has due regard for the need 

to eliminate unlawful discrimination, continue to advance equality of opportunity, and continue to 

foster good relations between people regardless of their background. 

Employee Consultation 

The management of RBGE consults collectively with the representatives of our two recognised 

trades unions, Prospect and Unite. Although the formal Whitley Committee mechanisms are still 

Page 14 of 47


in place, in reality discussions take place on both a more regular basis and in a more informal 

manner. Both sides find this far more effective as a means of operation. 

In terms of communication to staff generally, quarterly open staff meetings continue to be held 

to discuss major items of general importance to RBGE. Information is also distributed by way of 

notices and circulars in both written and electronic format. 

Personal Data Related Incidents 

There were no personal data related incidents during the year. 

Sickness Absence Data 

During 2011/12 the average number of day’s absence per employee was 5.5 (5.7 for 2010/11). 

Disclosure of Relevant Audit Information 

All reasonable steps have been taken to ensure that all relevant audit information has been 

disclosed to the auditors and to the best of our knowledge there is no relevant audit information 

of which the auditors are unaware. 

___________________________ ____________________________ 

Sir Muir Russell Professor Stephen Blackmore 

Chair of the Board of Trustees Regius Keeper and Accountable Office 

4 th October 2012 4 th October 2012 

Page 15 of 47


Remuneration Report 

Remuneration Policy 

The remuneration of the Regius Keeper is set by the Board of Trustees but requires the 

agreement of the Scottish Government. This remuneration is reviewed annually by the 

Remuneration Committee. The following were members of the Remuneration Committee during 

the period covered by the Accounts: 

Sir George Mathewson CBE LLD FRSE (retired 25 November 2011) 

Sir Muir Russell KCB FRSE (appointed 17 December 2011) 

Katrina Morrison MA MBA 

Dr Ian Sword CBE FRSE 

The Regius Keeper and Director of Corporate Services attend meetings of the Committee as 

required to provide advice/information when requested. They are not present for the decision 

making process. The remuneration of the senior management is reviewed annually. The 

Garden operates delegated pay and grading arrangements and is responsible for negotiating 

pay settlements within a pay remit agreed with the Scottish Government. A formal annual 

review process is in place for all staff, including senior management. 

As part of its advisory and review role, the Remuneration Committee considers the following: 

� The need to recruit, retain and motivate suitably able and qualified people; 

� Regional variations in labour markets and their effects on the recruitment and retention of 

staff; 

� Government policies for improving public services; 

� The affordability of recommendations for salary review. 

Service Contracts 

Although senior management are not civil servants, RBGE follows the principles of the Civil 

Service Commissioners’ Recruitment Code, which requires appointment to be made on merit on 

the basis of fair and open competition. 

The employees covered by this report hold indefinite appointments. Early termination, other 

than for misconduct, may result in the individual receiving compensation as set out in the Civil 

Service Compensation Scheme. Salaries in the following table are the amount earned in the 

financial year and include performance bonuses. 

Benefits in kind 

No benefits in kind were received by senior management during the year. 

Pension 

Pension benefits are provided to senior management on the same basis as all other staff in the 

Principal Civil Service Pension Scheme which is described in Note 8(f) in the accounts. 

Cash Equivalent Transfer Values 

A Cash Equivalent Transfer Value (CETV) is the actuarially assessed capitalised value of the 

pension scheme benefits accrued by a member at a particular point in time. The benefits 

valued are the member’s accrued benefits and any contingent spouse’s pension payable from 

the scheme. A CETV is a payment made by a pension scheme or arrangement to secure 

pension benefits in another pension scheme or arrangement when the member leaves a 

scheme and chooses to transfer the benefits accrued in their former scheme. The pension 

figures shown relate to the benefits that the individual has accrued as a consequence of their 

total membership of the pension scheme, not just their service in a senior capacity to which 

disclosure applies. 

The figures include the value of any pension benefit in another scheme or arrangement which 

the member has transferred to the Civil Service pension arrangements. They also include any 

Page 16 of 47


additional pension benefit accrued to the member as a result of their buying additional pension 

benefits at their own cost. CETVs are worked out in accordance with The Occupational Pension 

Schemes (Transfer Values) (Amendment) Regulations 2008 and do not take account of any 

actual or potential reduction to benefits resulting from Lifetime Allowance Tax which may be due 

when pension benefits are taken. 

Real Increase in CETV 

This reflects the increase in CETV that is funded by the employer. It does not include the 

increase in accrued pension due to inflation, contributions paid by the employee (including the 

value of any benefits transferred from another pension scheme or arrangement) and uses 

common market valuation factors for the start and end of the period. 

Name/Title/Age Salary 11-12 

(inc. 

performance 

pay) 

S Blackmore, 

Regius Keeper 

59 

A Macnab, 

Director of 

Corporate 

Services 

57 

D Rae, 

Director of 

Horticulture 

57 

M Gibby 

Director of 

Science 

63 

Retired 31 

March 2012 

H Jackson 

Director of 

Enterprise 

51 

Salary 10-11 

(inc. 

performance 

pay) 

Real 

increase 

in 

pension 

and 

related 

lump 

sum at 

pension 

age 

Page 17 of 47 

Accrued 

pension 

at 

pension 

age as 

at 

31/3/12 

and 

related 

lump 

sum 

£95-£100k £100-105k 0 £35- 

£40k 

plus 

£115- 

£120k 

lump 

£70-£75k £70-£75k £0-£2.5k 

plus 

£0-£2.5k 

sum 

£10- 

£15k 

plus 

£30- 

£35k 

lump 

sum 

£70-£75k £70-£75k 0 £25- 

£30k 

plus 

£85-90k 

lump 

sum 

£70-£75k £70-£75k 0 £30- 

£35k 

plus 

£95- 

£100k 

lump 

£65-£70k £50-£54k 

(Full year 

equivalent 

=£60-£65k) 

£0-2.5k 

pension 

sum 

£0-£5k 

pension 

CETV at 

31/3/11 

(footnote 

1) 

£’000 

CETV at 

31/3/12 

(footnote 

2) 

£’000 

Real 

increase 

in CETV 

£’000 

817 873 0 

201 230 11 

579 627 0 

691 711 0 

21 34 9 

1. The actuarial factors used to calculate CETVs were changed on 20/11/12. The CETVs at 

31/3/11 and 31/3/12 have both been calculated using the new factors for consistency. 

The CETV at 31/3/11 therefore differs from the corresponding figure in last year’s report 

which was calculated using the previous factors. 

2. Taking account of inflation, the CETV funded by the employer has decreased in real 

terms.


Remuneration Comparison 

The banded remuneration of the highest paid ‘director’ at RBGE in the financial year 2011-12 

was £95-100k (2010-11 £100-105k). The median of this range was 4.5 times (2010-11 4.6 

times) the median remuneration of the workforce, which was £21,805 (2010-11 £22,453). 

In 2011-12, 0 employees received remuneration in excess of the highest paid director, the same 

figure as for 2010-11. Remuneration ranged from £14,091 to £95-100k, also the same figures 

as for 2010-11. 

Total remuneration includes salary, non-consolidated performance-related pay, and benefits in 

kind, as well as severance payments. It does not include employer pension contributions and 

the cash equivalent transfer value of pensions. 

No performance-related payments were made in 2011-12 in accordance with Scottish 

Government pay policy. 

___________________________ 

Professor Stephen Blackmore 

Regius Keeper and Accountable Officer 

4 th October 2012 

Page 18 of 47


Statement of Board’s And Regius Keeper’s Responsibilities 

Under section 20 of schedule 2 of the National Heritage (Scotland) Act 1985, the Board of the 

Royal Botanic Garden Edinburgh is required to prepare, in accordance with best commercial 

practice, a consolidated statement of accounts dealing with the RBGE and its subsidiary 

companies (together referred to as the “group”) for each financial year in the form and on the 

basis determined by Scottish Ministers. The accounts are prepared on an accruals basis and 

give a true and fair view of the group’s state of affairs at the year-end and of its income and 

expenditure and cash flows for the financial year. 

In preparing the accounts the Board is required to: 

� Observe the accounts direction issued by Scottish Ministers, including the relevant 

accounting and disclosure requirements, and apply suitable accounting policies on a 

consistent basis; 

� Make judgements and estimates on a reasonable basis; 

� State whether applicable accounting standards have been followed, and disclose and 

explain material departures in the financial statements; 

� Prepare the financial statements on the going concern basis, unless it is inappropriate to 

presume that the Group will continue in operation. 

The Accountable Officer for the Scottish Government Rural and Environment, Science and 

Analytical Services Division (RESAS) has designated the Regius Keeper as the Accountable 

Officer for the Royal Botanic Garden Edinburgh. His relevant responsibilities as Accountable 

Officer, including his responsibility for the propriety and regularity of the public finances and for 

the keeping of proper records, are set out in the Financial Memorandum of the Royal Botanic 

Garden Edinburgh issued by Scottish Ministers. 

Page 19 of 47


Governance Statement 

STRUCTURE, GOVERNANCE AND MANAGEMENT 

Board of Trustees 

Scottish Ministers appoint the Trustees of the Royal Botanic Garden Edinburgh. The following 

were members of the Board during the period covered by the Accounts: 

Chairman 

Sir Muir Russell KCB FRSE (appointed 17 December 2011) 

Sir George Mathewson, CBE LLD FRSE (retired 25 November 2011) 

Trustees 

Dennis Dick FRSA 

Patricia Henton BSc FRSE 

Frank Kirwan 

Angela McNaught BSc FCCA 

Katrina Morrison MA MBA 

Tim Rollinson 

Professor Janet Sprent OBE FRSE 

Dr Ian Sword CBE FRSE 

The Board of Trustees is responsible for developing and approving policy and strategy for 

RBGE. In practice, both are developed jointly by Trustees and management, and adopted 

formally by the Board. Management has a responsibility for ensuring effective processes and 

deployment of resources for optimum performance. Implementation and operation are solely the 

responsibility of the Regius Keeper and Senior Management Team. The Corporate Plan is 

updated annually and following approval by the Board is submitted to our sponsor department in 

the Scottish Government: Rural and Environment, Science and Analytical Services Division 

(RESAS). None of the Board members have any financial interests in the Royal Botanic Garden 

Edinburgh. Details of relationships between RBGE and related parties are provided in Note 24 

to the accounts. 

On appointment Trustees sign a code of conduct and complete a Register of Interests. The 

latter is renewed annually. They are given a Trustee Handbook that includes the National 

Heritage (Scotland) Act 1985 that sets out the remit of RBGE, Scottish Government On Board 

Guidance, the Management Statement and Financial Memorandum, Risk Register, Staff 

Handbook, Statement of Roles and Responsibilities of RBGE Trustees and the latest Corporate 

Plan. New Trustees meet with the Regius Keeper and Board Secretary and are invited to an 

induction tour of the Garden. According to their skills and aptitude they take responsibility for 

activity areas by appointment to a committee. Training needs are assessed and met and 

Trustees participate in an annual strategy day where major risks are reviewed. 

The Board met five times during the period covered by the accounts. 

The Regius Keeper and Accountable Officer 

The Regius Keeper and Accountable Officer is Professor Stephen Blackmore CBE FRSE. 

Audit Committee 

The following were members of the Audit Committee during the period covered by the accounts: 

Angela McNaught BSc FCCA (Chairman) 

Professor Janet Sprent OBE FRSE 

Dennis Dick FRSA 

Frank Kirwan 

The Committee met four times during the period covered by the accounts. 

Page 20 of 47


Investment Committee 

The following were members of the Investment Committee during the period covered by the 

accounts: 

Dennis Dick FRSA (Chairman) 

Frank Kirwan 

The Committee met twice during the period covered by the accounts. 

Scope of Responsibility 

The Regius Keeper, as Accountable Officer, and the Board of Trustees, have joint 

responsibility for maintaining a sound system of internal control that supports the achievement 

of the organisation’s policies, aims and objectives, set by Scottish Ministers, whilst 

safeguarding the public funds and assets for which the Regius Keeper is responsible in 

accordance with the responsibilities assigned to him in the Scottish Public Finance Manual 

(SPFM). 

The SPFM is issued by the Scottish Ministers to provide guidance to the Scottish Government 

and other public bodies on the proper handling of public funds. It is mainly designed to ensure 

compliance with statutory and parliamentary requirements, promote value for money and high 

standards of propriety, and secure effective accountability and good systems of internal 

control. 

In addition, the Regius Keeper is accountable to the principal Accountable Officer of the 

Scottish Government’s Directorate General for Enterprise and Environment to enable him to 

discharge his overall responsibility for ensuring that RBGE, as a Scottish Government Non- 

Departmental Public Body, has adequate financial systems and procedures in place. 

Purpose of the System of Internal Control 

The system of internal control is designed to manage rather than eliminate the risk of failure to 

achieve the organisation’s policies, aims and objectives; it can therefore only provide 

reasonable and not absolute assurance of effectiveness. 

The system of internal control is based on an ongoing process designed to identify the principal 

risks to the achievement of the organisation’s policies, aims and objectives, to evaluate the 

nature and extent of those risks and to manage them efficiently, effectively and economically. 

The process within the organisation accords with the SPFM and has been in place for the year 

ended 31 March 2012 and up to the date of approval of the annual report and accounts and 

accords with guidance from the Scottish Ministers. 

Organisational Risk Management 

Risk Strategy and Risk Management 

With the wide range of activities at RBGE and the diverse groups of stakeholders it serves it is 

essential that RBGE’s approach to, and appetite for, risk is carefully assessed. The objectives 

set out in RBGE’s Corporate Plan are directly aligned with 11 of the National Outcomes 

determined by Scottish Ministers. 

Strategic leadership on risk management comes from the Senior Management Team with 

oversight by the Board of Trustees. The Strategic Risk Register is updated by the Senior 

Management Team on a quarterly basis and presented for endorsement by the Board of 

Trustees on the recommendation of the Audit Committee. Annually the Board of Trustees 

complete a review of the Key Strategic Risks, this review coincides with the Trustees annual 

strategic review. 

Page 21 of 47


At the detailed level, Divisional Risk Registers are maintained, with responsibility for each risk 

allocated to the appropriate manager. Individual Directors are responsible for the 

implementation of risk management within their Division and the Senior Management Team 

monitors the progress of action taken to manage these risks and for the emergence of new 

risks. The current major risks are reported below. 

Comprehensive Guidance has been produced and widely disseminated, including via the 

Intranet, on risk awareness and risk management, and a robust risk assessment methodology 

has been implemented. The Senior Management Team and managers are responsible for 

assessing risk appetite, using a framework of key documents including the Corporate Plan, 

Financial Regulations, Collections Management Policies, Procurement Manual, Staff Handbook 

and the Health and Safety Policies. 

Major Risks to RBGE Strategy 

The risks faced by the Royal Botanic Garden were reviewed by the directors on a quarterly 

basis and their findings reported to the Board of Trustees. The Board carries out their own 

independent assessment once per year and the most serious risks that face the RBGE have 

been determined by the Board as: 

Risk Identifier Strategic Risk Net Score 

R2A Land and Buildings- General 16 

R2B Land and Buildings - Masterplan 12 

R2A 

The Capital Plan is incorporated in the Corporate Plan approved by the Board and Scottish 

Government. Significant storms in early December and January caused extensive damage to 

our Glasshouses. Our Masterplan acknowledges the need to ensure the security of our national 

collections. Until the planning is complete and works implemented, the risk will remain 

extremely high. 

R2B 

The Masterplan in its entirety cannot be met by Government funding during the current 

spending review. However as a consequence of the recent storms, a revision to the priorities 

will need to be carried out to carry out works to safeguard our research collections. Our sponsor 

department in the Scottish Government: Rural and Environment, Science and Analytical 

Services Division (RESAS) have agreed to enter into discussions with us on that matter. 

Financial Management and Control 

RBGE maintains systems of internal financial control which are managed by the Finance 

Department. Guidance on all financial systems is available to staff on the Intranet. Financial 

management is supported through monthly management accounts, monthly reporting to the 

Senior Management Team, with copies to the Board of Trustees, and quarterly reporting to the 

Board of Trustees. Financial information is frequently reviewed during weekly meetings of the 

Senior Management Team and is available to all budget holders so that they can monitor their 

performance against budgets at any time. 

Fraud Risk Management 

RBGE’s policies relating to fraud are set out in the Staff Handbook and available on the intranet. 

These detail the steps taken to manage the risk of fraud and how to respond to fraudulent 

activity if it is suspected or discovered. 

There is also a Whistleblowers Procedure set out in the Staff Handbook and a member of the 

Board of Trustees is appointed so as to be directly available to whistleblowers. 

Project Management 

For major capital projects a Project Board involving representatives of RESAS is established 

and a separate risk register is maintained for each such project. Smaller projects are managed 

directly by RBGE Directors and the Estates Management Department. Non-capital projects, 

Page 22 of 47


including externally funded research projects and consultancy work are managed through line 

managers within the Divisions and progress is entered into the Executive Strategy Manager 

system and significant financial variances are reported within the monthly management 

accounts. Major capital projects have post project appraisals carried out. 

Best Value 

In accordance with the principles of Best Value, the RBGE aims to foster a culture of 

continuous improvement. As part of this regime, Directors and managers are encouraged to 

review, identify and improve the efficient and effective use of resources. Arrangements have 

been made to secure Best Value, as set out in the Scottish Public Finance Manual. Nine out of 

nine areas have been assessed as “well developed”. Previous independent assessments by 

KPMG LLP have informed this assessment in addition to our own self-assessment processes. 

Information Management 

As one of Scotland’s National Collections, RBGE holds unique information resources relating to 

its living and preserved collections of plants, its library and archives. Increasingly these 

information resources are being captured in digital form, which provides for the wider 

dissemination of information via the internet and also for digital archives to be securely backed 

up and managed within a Business Continuity Plan. 

In addition RBGE undertakes to ensure correct management of any personal data and is not 

aware of any sensitive personal data related incidents during the year 2011/12. 

Review of Effectiveness 

The Regius Keeper (as Accountable Officer) and the Board of Trustees have responsibility for 

reviewing the effectiveness of the system of internal control. RBGE’s review of the effectiveness 

of the system of internal control is informed by the work of the Senior Management Team, 

supported by the findings of the programme of internal audit and comments made by the 

external auditors in their management letter and other reports. 

At each quarterly Board of Trustees meeting, the Trustees receive an update on key operational 

matters from the Regius Keeper. They also receive a copy of the Strategic Risk Register which 

is prepared by the Senior Management Team quarterly. 

The Internal Auditors reviewed three areas during the year and there were follow ups to 

previous recommendations): 

� Performance Management and Monitoring and Budgetary Control 

� Income Generation: Centre for Middle Eastern Plants (CMEP) 

� Income Generation: Other 

The Internal Auditor’s Reports did not identify any weaknesses in internal control on 

Performance Management and Budgetary Control but their report on CMEP made comment on 

weaknesses in and made recommendations on business planning; project management; and 

financial reporting. In all cases responses to the Auditors recommendations have been agreed 

and are being progressed as appropriate. 

Assessment of Corporate Governance 

The RBGE’s arrangements for corporate governance comply with generally accepted best 

practice principles and relevant guidance as set out in the Scottish Public Finance Manual and 

therefore meet the governance requirements of the Board of Trustees and Scottish 

Government. 

___________________________ ____________________________ 


Chair of the Board of Trustees Regius Keeper and Accountable Officer 


Page 23 of 47


Independent auditor’s report to the members of the Board of Trustees of the Royal 

Botanic Garden Edinburgh, the Auditor General for Scotland and the Scottish Parliament 

I have audited the financial statements of Royal Botanic Garden Edinburgh for the year ended 

31 March 2012 under the National Heritage (Scotland) Act 1985 and section 44(1)(c) of the 

Charities and Trustee Investment (Scotland) Act 2005. The financial statements comprise the 

Consolidated Income and Expenditure Account, the Consolidated Statement of Financial 

Activities, the Balance Sheet, Statement of Recognised Gains and Losses, the Consolidated 

Cash Flow Statement and the related notes. The financial reporting framework that has been 

applied in their preparation is applicable law and United Kingdom Accounting Standards (United 

Kingdom Generally Accepted Accounting Practice). 

This report is made solely to the parties to whom it is addressed in accordance with the Public 

Finance and Accountability (Scotland) Act 2000 and for no other purpose. In accordance with 

paragraph 125 of the Code of Audit Practice approved by the Auditor General for Scotland, I do 

not undertake to have responsibilities to members or officers, in their individual capacities, or to 

third parties. 

Respective responsibilities of the Board, Regius Keeper and auditor 

As explained more fully in the Statement of the Board and Regius Keeper's Responsibilities, the 

Board and Regius Keeper are responsible for the preparation of the financial statements and for 

being satisfied that they give a true and fair view, and the Regius Keeper is also responsible for 

ensuring the regularity of expenditure and income. My responsibility is to audit and express an 

opinion on the financial statements in accordance with applicable law and International 

Standards on Auditing (UK and Ireland) as required by the Code of Audit Practice approved by 

the Auditor General for Scotland. Those standards require me to comply with the Auditing 

Practices Board’s Ethical Standards for Auditors. I am also responsible for giving an opinion on 

the regularity of expenditure and income. 

Scope of the audit of the financial statements 

An audit involves obtaining evidence about the amounts, disclosures, and regularity of 

expenditure and income in the financial statements sufficient to give reasonable assurance that 

the financial statements are free from material misstatement, whether caused by fraud or error. 

This includes an assessment of: whether the accounting policies are appropriate to the body’s 

circumstances and have been consistently applied and adequately disclosed; the 

reasonableness of significant accounting estimates made by the Board and Regius Keeper; and 

the overall presentation of the financial statements. In addition, I read all the financial and nonfinancial 

information in the Annual Report and Consolidated Accounts to identify material 

inconsistencies with the audited financial statements. If I become aware of any apparent 

material misstatements or inconsistencies I consider the implications for my report. 

Opinion on financial statements 

In my opinion the financial statements: 

� give a true and fair view of the state of the body’s affairs as at 31 March 2012 and of its 

incoming resources and application of resources, including its income and expenditure, for 

the year then ended; 

� have been properly prepared in accordance with United Kingdom Generally Accepted 

Accounting Practice; and 

� have been prepared in accordance with the requirements of the National Heritage 

(Scotland) Act 1985 and directions made thereunder by the Scottish Ministers, the Charities 

and Trustee Investment (Scotland) Act 2005 and regulation 8 of The Charities Accounts 

(Scotland) Regulations 2006. 

Opinion on regularity 

In my opinion in all material respects the expenditure and income in the financial statements 

were incurred or applied in accordance with any applicable enactments and guidance issued by 

the Scottish Ministers. 

Page 24 of 47


Opinion on other prescribed matters 

In my opinion: 

� the part of the Remuneration Report to be audited has been properly prepared in 

accordance with the National Heritage (Scotland) Act 1985 and directions made 

thereunder by the Scottish Ministers; and 

� the information given in the Report of the Board of Trustees for the financial year for 

which the financial statements are prepared is consistent with the financial 

statements. 

Matters on which I am required to report by exception 

I am required to report to you if, in my opinion: 

� adequate accounting records have not been kept; or 

� the financial statements and the part of the Remuneration Report to be audited are 

not in agreement with the accounting records; or 

� I have not received all the information and explanations I require for my audit; or 

� the Governance Statement does not comply with guidance from the Scottish 

Ministers. 

I have nothing to report in respect of these matters. 

Ruth Brown CPFA 

Senior Audit Manager 

Audit Scotland 

18 George St 

Edinburgh 

EH2 2QU 

October 2012 

Page 25 of 47


Consolidated Income and Expenditure Account 


Page 26 of 47 

Notes 


£000 

2010/11 

£000 

Income 

Voluntary Income 3 1,430 1,658 

Gain on sale of investments 6 8 

Incoming resources from charitable activities 4 1,272 1,342 

Income from activities for generating funds 5 938 825 

3,646 3,833 

Expenditure 

Staff costs 

8 8,908 7,913 

Depreciation 11,12 1,730 1,689 

Less release of deferred grant 20 (1,543) (1,562) 

Other operating costs 9 4,617 4,028 

13,712 12,068 

Operating Deficit 

(10,066) 

(8,235) 

Dividends and interest receivable 

Excess of depreciation based on revalued amounts 

6 26 26 

over equivalent amortisation of deferred grant 

187 127 

Adjustment for Movement on Project Funds 10 93 (278) 

Deficit for the financial year (9,760) (8,360) 

Transferred to: 

General Fund 

(9,810) (8,557) 

Board Reserve Funds 25 174 

Endowment Funds 25 23 

(9,760) (8,360) 

The notes on pages 30 to 47 form part of these accounts.


Consolidated Statement of Financial Activities 


Page 27 of 47 


2010/11 

Note Unrestricted Restricted 

Funds Funds 

Endowment 

Funds 

Total 

Funds 

Total 

Funds 

£000 £000 £000 £000 £000 

Incoming Resources 

Voluntary income 765 1,173 0 1,938 1,912 

Investment income 1 1 35 37 29 

Incoming resources from charitable activities 1,191 81 0 1,272 1,342 

Activities for generating funds 938 0 0 938 826 

Total incoming resources 2,895 1,255 35 4,185 4,109 

Resources Expended 

Charitable activities 

Collections 5,234 764 0 5,998 5,241 

Visitor Offer 2,210 290 0 2,500 2,362 

Education 879 89 7 975 821 

Scientific Research 3,212 1,353 0 4,565 3,969 

Governance costs 111 6 0 117 99 

Costs of generating voluntary income 246 42 0 288 321 

Fundraising trading: cost of goods sold 

and other costs 

812 0 0 812 831 

Total Resources Expended 7 12,704 2,544 7 15,255 13,644 

Net outgoing resources (9,809) (1,289) 28 (11,070) (9,535) 

Realised gains on Investment Assets 0 0 (5) (5) 6 

Transfers between Funds 0 0 0 0 0 

Net expenditure for the year (9,809) (1,289) 23 (11,075) (9,529) 

Funding from Scottish Government 2 9,812 1,325 0 11,137 9,704 

Unrealised gain/(loss) on Fixed Assets 0 1,415 20 1,435 1,215 

Impairment of Investments 0 0 0 0 13 

Excess of depreciation based on revalued 

amounts over equivalent amortisation of 

deferred grant 

187 (187) 0 0 0 

Net movement in funds 190 1,264 43 1,497 1,403 

RESERVES AS AT 1 APRIL 2011 617 40,664 934 42,215 40,812 

RESERVES AS AT 31 MARCH 2012 807 41,928 977 43,712 42,215 

All activities arise from continuing operations 

The notes on pages 30 to 47 form part of these accounts.


Balance Sheet as at 31 March 2012 

Page 28 of 47 

Notes 2012 

£000 

RBGE Consolidated 


£000 


£000 


£000 

Fixed Assets 

Other tangible assets 11 40,991 40,343 40,991 40,344 

Intangible assets 12 136 24 136 24 

Investments 13a 875 954 794 749 

42,002 41,321 41,921 41,117 

Current Assets 

Stock 14 140 126 315 305 

Debtors 15 872 913 528 600 

Current asset investments 13b 1,090 1,079 1,090 1,079 

Cash at bank and in hand 23 2,193 941 2,462 1,214 

Current Liabilities 

4,295 3,059 4,395 3,198 

Creditors: Amounts falling due within one year 

16 (2,467) (1,977) (2,501) (2,032) 

Net Current Assets 1,828 1,082 1,894 1,166 

Total Assets less Current Liabilities 43,830 42,403 43,815 42,283 

Creditors: Amounts falling due after more than one 

year 

Provisions for Liabilities and Charges 

16 (95) (68) (95) (68) 

Total Assets less Liabilities 43,727 42,335 43,712 42,215 

CAPITAL AND RESERVES 

General Funds 

Accumulated Deficit on the General Fund 18 113 112 113 112 

Board Reserve Fund: Trustee Funds 18 709 625 694 505 

Total Unrestricted funds 822 737 807 617 

Restricted Funds 

Capital Revaluation Reserve 18 12,457 11,228 12,457 11,228 

Deferred Capital Grants 18 28,896 28,768 28,896 28,768 

Project deferred income 18 635 691 635 691 

Project deferred expenditure 18 (60) (23) (60) (23) 

Total Restricted Funds 41,928 40,664 41,928 40,664 

Endowment Funds 

Ferguson Bequest 18 738 716 738 716 

Education Endowment 18 33 32 33 32 

QMMG Endowment 18 23 23 23 23 

Investments Revaluation Reserve 18 183 163 183 163 

977 934 977 934 

17 

(8) 

0 

(8) 

43,727 42,335 43,712 42,215 

The Accountable Officer authorised these statements for issue on ___________________ 2012 

___________________________ ____________________________ 


Chair of the Board of Trustees Regius Keeper and Accountable Officer 


The notes on pages 30 to 47 form part of these accounts. 

0


Statement of Recognised Gains and Losses 


Page 29 of 47 


2010/11 

£000 £000 

Unrealised gain on revaluation of investments 20 39 

Unrealised gain on revaluation of fixed assets 1,229 1,049 

Total recognised gains and losses related to the financial year 1,249 1,088 

Consolidated Cash Flow Statement 


Net cash outflow from operating activities 


2010/11 

Notes £000 £000 

23 

(9,332) 

(8,505) 

Return on investments and servicing of finance 

Interest received 

6 

2 

8 

Dividends received 6 24 18 

Net cash inflow from returns on investments and servicing of 

finance 

Capital expenditure and financial investment 

Payments to acquire tangible fixed assets 

(1,032) (1,139) 

Payments to acquire intangible fixed assets 0 (17) 

Payments to acquire investments 13a (17) (88) 

Receipts from sale of tangible fixed assets 5 13 

Receipts from sale of investments 31 103 

Decrease/ (increase) in current asset investments 

Net cash outflow from capital expenditure and financial 

(11) 105 

investment 

(1,024) (1,023) 

Net cash outflow before financing 

Financing 

Funding from Scottish Government 

Other capital grants 

Liquidated damages received 

Increase/(Decrease) in cash 

The notes on pages 30 to 47 form part of these accounts. 

6 

2 

26 

(10,330) 

11,137 

345 

96 

1,248 

26 

(9,502) 

9,704 

254 

13 

469


Notes to the Accounts for the year ended 31 March 2012 

1. ACCOUNTING POLICIES 

a) Basis of accounting 

The accounts have been prepared under the historical cost convention modified by the 

revaluation of tangible fixed assets and investments at their market value. The accounts have 

been prepared in in accordance with an Accounts Direction given by Scottish Ministers in 

accordance with paragraph 20(3) of Schedule One of the National Heritage (Scotland) Act 

1985. The Accounts Direction can be found at the end of these accounts. 

The Accounts Direction requires RBGE to prepare the accounts in compliance with the 

accounting principles and disclosure requirements of the edition of the Government Financial 

Reporting Manual (FReM) which is in force for the year for which the statement of accounts are 

prepared. As a non-departmental public body which is also a registered charity, the FReM 

requires that the accounts comply with the Statement of Recommended Practice Accounting 

and Reporting by Charities (revised 2005) ("the SORP") and provide any additional disclosures 

as required by the Manual. In addition to the requirements of the SORP, our sponsoring 

department has also directed us to prepare an Income and Expenditure Account in addition to 

the Statement of Financial Activities. 

b) Basis of consolidation 

The consolidated accounts, ("the Group") include the accounts of the Royal Botanic Garden 

Edinburgh (“RBGE”) and its subsidiary companies, The Botanics Trading Company Limited 

(“BTC”) and The Centre for Middle Eastern Plants Limited (“CMEP”), for the year ended 31 

March 2012. The accounts were consolidated on a line by line basis for assets and liabilities. 

CMEP was put into dormancy from 1 January 2012. 

c) Asset Policy 

i) The title to the land and buildings administered by the Board is held in the name of the 

Scottish Ministers. The Board holds a 99 year lease covering the use of these assets. 

Nevertheless, on the direction of the Scottish Ministers, these fixed assets have been 

valued and are included in the Balance Sheet. The method of valuation for specialised 

properties, that is land and buildings for which there is effectively no market, is depreciated 

replacement cost. Other properties are valued at open market value for existing use. 

ii) All items of capital expenditure greater than £5,000 are treated as additions to tangible 

fixed assets and land and buildings are subject to annual revaluation. Depreciation is 

charged on the basis of the revalued amounts for land and buildings and on historic cost 

for other tangible fixed assets. Historic costs are not disclosed as required by the SORP 

as, in accordance with the Government Financial Reporting Manual, this adds no 

information of value to the accounts. 

iii) Land is not depreciated. Depreciation is provided on all other fixed assets at rates 

calculated to write off their valuation, less estimated residual value, evenly over the 

remainder of their expected lives. The principal rates used are based on estimated lives as 

follows: 

Buildings 10 – 50 years 

Garden machinery 5 – 10 years 

Scientific Equipment 4 – 5 years 

Office Equipment 3 – 5 years 

Motor Vehicles 4 years 

Intangible Assets 3 – 5 years 

d) Heritage Assets 

A heritage asset is defined as a tangible asset with historical, artistic, scientific, technological, 

geophysical or environmental qualities that is held and maintained principally for its contribution 

to knowledge and culture. 

Page 30 of 47


The collections of specimens, reference books and other material related to work at the Royal 

Botanic Garden Edinburgh as at 31 March 2001 have not been capitalised in these accounts in 

line with HM Treasury Guidance for non-operational heritage assets. Individual items acquired 

after 1 April 2001 with a value at the date of acquisition in excess of £5,000 are capitalised. 

Under HM Treasury guidance, capitalised collection items are not depreciated or revalued. 

The collections are truly “priceless” in that they cannot be valued meaningfully due to the 

number of items, lack of comparative market values and the diverse nature of the collections. It 

is not possible to obtain reliable cost or valuation information. 

e) Incoming Resources Policy 

Revenue Grant is credited to the General Fund on a cash basis. Grant for the purchase of 

capital items is transferred to a capital grants reserve from which it is released as the assets are 

depreciated. Income from activities is accounted for on a receivable basis, net of VAT, with the 

exception of income from the Membership Scheme that is accounted for on a cash basis net of 

VAT. Gifts in Kind and Donated Services and Facilities have been included in the SOFA when 

they can be quantified with reasonable certainty. 

f) Resources Expended Policy 

Within the Statement of Financial Activities the costs of the development and membership 

departments are shown as the costs of generating voluntary income. Staff and operating costs 

incurred in relation to governance are shown separately. These include internal and external 

audit, Trustees expenses and meeting costs. The other categories of expenditure are deemed 

to be activities in furtherance of the RBGE’s objectives. Indirect costs have been allocated on 

the basis of headcount. 

Liabilities and provisions are recognised as resources expended as soon as there is a legal or 

constructive obligation committing RBGE to the expenditure. 

g) Reserves 

Reserves are analysed under the headings Restricted, Unrestricted and Endowment Funds. 

Restricted funds are those given to RBGE for specific purposes. Unrestricted funds are divided 

into the Board Reserve Fund and the General Fund. Each fund is described below. 

i) Board Reserve Fund 

The Board of Trustees, with the approval of Scottish Ministers, may undertake certain 

activities the profits from which, together with donations and funds from other sources, including 

the results of the Botanics Trading Company and the Centre for Middle Eastern Plants are 

taken to the Board Reserve. These funds may be used at the Board’s discretion under the 

terms of the National Heritage (Scotland) Act 1985. 

ii) General Fund 

The General Fund represents the surplus or deficit on the Income and Expenditure Account 

after taking into account the Revenue Grant in Aid and movement on all other specific funds 

(including the Board Reserve). 

iii) Endowment Fund 

These are donations to RBGE that have been made by way of endowment. The Trustees either 

have no power to convert the capital to income (permanent endowment funds) or they do have 

the power to convert into expendable income (expendable endowments). All of the RBGE 

endowment funds are expendable. 

h) Stocks 

Stocks are stated at the lower of cost or net realisable value or, if this is different by a material 

amount, their value to the business by reference to current costs. 

Page 31 of 47


i) Investments 

Investments are carried in the balance sheet at market value in accordance with the SORP. 

The unrealised surplus/ deficit relative to cost is dealt with in the revaluation reserve. Investment 

in subsidiary companies represents share capital and long term loans. 

j) Taxation 

RBGE is a charity within the meaning of the Charities and Trustee Investment (Scotland) Act 

2005 and as such is a charity within the meaning of Para 1 of Schedule 6 to the Finance Act 

2010 and is recorded on the index of charities maintained by the Office of the Scottish Charity 

Regulator (Charity Number SC007983). Accordingly, RBGE is potentially exempt from taxation 

in respect of income or capital gains received within categories covered by sections 478-488 of 

the Corporation Tax Act 2010 (CTA 2010) (formerly enacted in Section 505 of the Income and 

Corporation Taxes Act 1988 (ICTA)) or Section 256 of the Taxation of Chargeable Gains Act 

1992 to the extent that such income or gains are applied to exclusively charitable purposes. 

RBGE is registered, as a group, for Value Added Tax and claims partial recovery of input VAT. 

k) Pensions 

RBGE participates in the Principal Civil Service Pension Scheme (PCSPS). This scheme is an 

unfunded multi-employer defined benefit scheme and participating organisations are unable to 

identify their share of the underlying assets and liabilities on a consistent and reliable basis. 

Accordingly, RBGE has utilised the provisions of FRS 17 whereby the contributions to each 

scheme are recognised as if it were a defined contribution scheme. The cost recognised within 

the Statement of Financial Activities will be equal to the contribution payable to the schemes for 

the year. 

In the past RBGE has also provided enhanced pensions to former employees who accepted 

early retirement and provision is made on an actuarial basis for the liability to those former 

employees at the time of their retirement. 

l) Financial Instruments 

Financial assets (represented by lending and receivables) are carried in the balance sheet at 

amortised cost. Their fair value can be assessed by calculating the present value of the cash 

flows that will take place over the remaining period of the instrument, using the following 

assumptions: 

� No early repayment or impairment is recognised 

� Where an instrument will mature in the next 12 months, the carrying amount is 

assumed to approximate to fair value. 

� The fair value of trade and other receivables is taken to be the invoiced or billed 

amount. 

m) Foreign Currency Policy 

Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at 

the date of the transactions. 

n) Intra Group Transactions 

Gains or losses on any intra-group transactions are eliminated in full. Amounts in relation to 

debts and claims between undertakings included in the consolidation are also eliminated. 

2. GRANT-IN-AID 

Page 32 of 47


Page 33 of 47 


£000 


£000 

Revenue Grant in Aid 9,812 8,984 

Capital Grant 1,325 720 

Total Grant from RESAS 11,137 9,704 

RBGE received additional grant in aid of £714k to fund severance payments for 20 staff leaving 

under a Voluntary Exit Scheme in June 2012. 

3. VOLUNTARY INCOME 


£000 


£000 

Income from Botanics Foundation 8 109 

Gift Aid from BTC 380 339 

Grants from UK government entities 480 437 

Grants from EU 2 66 

Other grants 452 632 

Donations 108 75 

1,430 1,658 

4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES 


£000 


£000 

Admissions 334 331 

Education charges 564 629 

Rents receivable 26 26 

Membership income 155 145 

Other income from third parties 193 211 

1,272 1,342 

5. ACTIVITIES FOR GENERATING FUNDS 


£000 


£000 

Trading Company Income 792 691 

Consultancy Company Income 52 41 

Commercial Development 64 67 

Commemorative Programme 30 26 

938 825 

Commercial development consists of theatrical events, venue hire, licensing and commercial 

publishing. 

6. INVESTMENT INCOME 


£000 


£000 

Dividends 24 18 

Interest receivable 2 8 

26 26 

7. RESOURCES EXPENDED


Staff 

costs 

£000 

Depreciation 

£000 

Page 34 of 47 

Other Direct 

Costs 

£000 

Allocated 

Costs 

£000 


Total 

£000 

2010/11 

Total 

£000 

Charitable activities 

Collections 2,758 520 2,720 5,998 5,241 

Visitor Offer 1,028 429 1,043 2,500 2,362 

Education 380 267 328 975 821 

Scientific Research 2,507 884 1,174 4,565 3,969 

Support Costs 1,781 1,730 1,940 (5,451) 0 0 

Governance costs 30 54 33 117 99 

Costs of generating 

321 

voluntary income 

94 

41 153 288 

Fundraising/consultancy 

trading costs 

330 

482 0 812 831 

Total 8,908 1,730 4,617 0 15,255 13,644 

The cost of charitable activities includes the cost of support services (facilities management, 

finance, human resources, ICT, corporate services management, press and marketing) of 

£5,265k (2010/11 £2,673k). 

8. TRUSTEES REMUNERATION AND STAFF COSTS 

a) Trustees’ remuneration 

Trustees do not receive any remuneration for their services. Travelling and subsistence 

expenses of £133 (2010/11 £1,261) in relation to nine trustees have been charged as part of 

other direct costs – Note 9. 

b) Regius Keeper’s remuneration 


£000 

2010/11 

£000 

Remuneration excluding pension contributions 98 101 

Pension contributions 24 24 

122 125 

c) Employees with earnings above £50,000 

Numbers of employees at 2011/12 2010/11 

£50,000 - £59,999 10 10 

£60,000 - £69,999 2 2 

£70,000 - £79,999 3 3 

£80,000 - £89,999 0 0 

£90,000 - £99,999 1 0 

£100,000-£109,999 0 1 

All of the above are members of the Principal Civil Service Pension Scheme. 

d) Staff salaries and social security 


£000 

2010/11 

£000 

Salaries 6,644 6,408 

Social security costs 445 414 

Staff pensions 1,105 1,091 

Compensation payments 714 0 

8,908 7,913


e) The average number of full-time equivalent employees during the year analysed 

by function 

2011/12 2010/11 

Horticulture 87.75 84.25 

Science 57.75 56.75 

Corporate Services 27.50 27.75 

Botanics Trading Company Ltd. 14.50 14.00 

Externally funded 21.50 23.25 

Directorate 3.00 3.00 

Enterprise 33.00 32.75 

245.00 241.75 

f) Pensions 

Pension benefits are provided through the Civil Service pension arrangements. From 30 July 

2007, civil servants may be in one of four defined benefit schemes; either a final salary scheme 

(classic, premium or classic plus); or a whole career scheme (nuvos). These statutory 

arrangements are unfunded with the cost of benefits met by monies voted by Parliament each 

year. Pensions payable under classic, premium, classic plus and nuvos are increased 

annually in line with Pensions Increase legislation. Members joining from October 2002 may 

opt for either the appropriate defined benefit arrangement or a ‘money purchase’ stakeholder 

pension with an employer contribution (partnership pension account). 

Employee contributions are set at the rate of 1.5% of pensionable earnings for classic and 

3.5% for premium, classic plus and nuvos. Increases to employee contributions will apply 

from 1 April 2012.Benefits in classic accrue at the rate of 1/80th of final pensionable earnings 

for each year of service. In addition, a lump sum equivalent to three years initial pension is 

payable on retirement. For premium, benefits accrue at the rate of 1/60th of final pensionable 

earnings for each year of service. Unlike classic, there is no automatic lump sum. Classic 

plus is essentially a hybrid with benefits for service before 1 October 2002 calculated broadly 

as per classic and benefits for service from October 2002 worked out as in premium. In 

nuvos a member builds up a pension based on his pensionable earnings during their period of 

scheme membership. At the end of the scheme year (31 March) the member’s earned pension 

account is credited with 2.3% of their pensionable earnings in that scheme year and the 

accrued pension is uprated in line with Pensions Increase legislation. In all cases members 

may opt to give up (commute) pension for a lump sum up to the limits set by the Finance Act 

2004. 

The partnership pension account is a stakeholder pension arrangement. The employer makes 

a basic contribution of between 3% and 12.5% (depending on the age of the member) into a 

stakeholder pension product chosen by the employee from a panel of three providers. The 

employee does not have to contribute, but where they do make contributions, the employer will 

match these up to a limit of 3% of pensionable salary (in addition to the employer’s basic 

contribution). Employers also contribute a further 0.8% of pensionable salary to cover the cost 

of centrally-provided risk benefit cover (death in service and ill health retirement). 

The accrued pension quoted is the pension the member is entitled to receive when they reach 

pension age, or immediately on ceasing to be an active member of the scheme if they are 

already at or over pension age. Pension age is 60 for members of classic, premium and 

classic plus and 65 for members of nuvos. 

Further details about the Civil Service pension arrangements can be found at the website 

http://www.civilservice.gov.uk/my-civil-service/pensions/index.aspx 

The Principal Civil Service Pension Scheme (PCSPS) is an unfunded multi-employer defined 

benefit scheme but The Royal Botanic Garden Edinburgh is unable to identify its share of the 

underlying assets and liabilities. The Scheme Actuary valued the scheme as at 31 March 2007. 

You can find details in the resource accounts of the Cabinet Office: Civil Superannuation 

(www.civilservice.gov.uk/my-civil-service/pensions). 

Page 35 of 47


For 2011-12, employers’ contributions of £1,098,448.01 were payable to the PCSPS (2010-11 

£1,076,826.55) at one of four rates in the range 16.7% to 24.3% of pensionable pay, based on 

salary bands. The Scheme Actuary reviews employer contributions usually every four years 

following a full scheme valuation. The contribution rates are set to meet the cost of the benefits 

accruing during 2011-12 to be paid when the member retires, and not the benefits paid during 

this period to existing pensioners. 

Employees can opt to open a partnership pension account, a stakeholder pension with an 

employer contribution. Employers’ contributions of £14,382.76 were paid to one or more of the 

panel of three appointed stakeholder pension providers. Employer contributions are age-related 

and range from 3% to 12.5% of pensionable pay. Employers also match employee contributions 

up to 3% of pensionable pay. In addition, employer contributions of £1,363.62, 0.8 per cent of 

pensionable pay, were payable to the PCSPS to cover the cost of the future provision of lump 

sum benefits on death in service or ill health retirement of these employees. 

Contributions due to the partnership pension providers at the balance sheet date were £0. 

Contributions prepaid at that date were £0. 

g) Compensation for loss of office 

A voluntary exit scheme funded by the Scottish Government was open for all staff during 

February 2012 and a total of 20 exits subsequently agreed. Funding for this of £714,122 was 

received from the Scottish Government in March 2012. The compensation payments have been 

accrued and will be paid out in April and July 2012 as staff leave on agreed departure dates. 

The following table shows the two departures that took place within the financial year. 

Reporting of Civil Service and other compensation schemes – exit packages 

1 Exit 

package 

cost band 

Number of 

compulsory 

redundancies 

Number of other 

departures agreed 

2


9. OTHER OPERATING COSTS 

Page 37 of 47 


£000 

2010/11 

£000 

Botanics Trading Company 530 539 

Centre for Middle Eastern Plants 45 53 

Materials 721 654 

Direct Project Costs 517 413 

Repairs and Maintenance 556 492 

Rates and Utilities 762 645 

Trustees travel and subsistence 0 1 

Staff travel and subsistence 276 243 

General services 774 654 

Audit fees 23 26 

Legal, consultancy and other professional fees 413 307 

4,617 4,027 

10. ADJUSTMENT FOR MOVEMENT ON PROJECT FUNDS 

Projects are where the Royal Botanic Garden Edinburgh receives money from third parties to 

fund various activities such as specific areas of research, developments in the Garden etc. The 

balance on the projects fund is the net effect of project deferred income that represents funding 

in advance and project deferred expenditure where expenditure has been incurred in advance 

of the receipt of grant funding. Movement through the projects fund does not represent a 

surplus or deficit for the year but the difference between grant income received and expenditure 

incurred that will be recovered (or expensed) by the Garden at a future date. An adjustment is 

therefore made to the Income and Expenditure Account to allow for this movement. Provision is 

made for foreseeable losses on all projects as soon as any such losses are identified.


11. TANGIBLE FIXED ASSETS 

Land & 

Buildings 

Garden 

Machinery 

Scientific 

Equipment 

Office 

Equipment 

£000 £000 £000 £000 £000 £000 £000 

Cost or Valuation 

At 1 April 2011 41,412 1,146 1,169 1,852 130 50 45,759 

Additions 757 72 4 148 27 0 1,008 

Disposals 0 (95) (127) (271) (17) 0 (510) 

Revaluation 1,521 0 0 0 0 0 1,521 

Transfers 0 0 (75) 0 0 0 (75) 

At 31 March 2012 43,690 1,123 971 1,729 140 50 47,703 

Land and buildings were revalued on 31 March 2008 by Ryden International Property Consultants on the basis of open market value for existing 

use, except for those properties and land which have such specialised use that they have no market value. Such properties and land are valued 

at depreciated replacement cost representing their value in use to the Group. Replacement costs were derived by the valuers on the basis of land 

values and estimated current construction costs, including professional fees and finance costs, for each individual property. The amount by which 

replacement cost for each property was discounted to arrive at depreciated replacement cost was assessed by the valuers on the basis of the 

current condition and state of repair of the property concerned (rather than by time apportioning over the total estimated life of the property). 

Other tangible fixed assets were valued by the Trustees at 31 March 2012 at depreciated historic cost. Depreciation on other tangible assets has 

been calculated on the historic cost amount at 31 March 2012. 

Costs of £74,736 (2011: nil) relating to the digitisation of the Herbarium Collection have been transferred from Scientific Equipment to Intangible 

Assets. 

Page 38 of 47 

Motor 

Vehicles 

Depreciation 

At 1 April 2011 2,890 870 789 720 97 49 5,415 

Charge for the period 1,252 104 103 213 23 1 1,696 

Disposals 0 (90) (127) (271) (17) 0 (505) 

Backlog Depreciation 106 0 0 0 0 0 106 

Impairments 0 0 0 0 0 0 0 

Transfers 0 0 0 0 0 0 0 

At 31 March 2012 4,248 884 765 662 103 50 6,712 

Net book value 

At 31 March 2012 39,442 239 206 1,067 37 0 40,991 

At 31 March 2011 38,522 276 380 1,132 33 1 40,344 

BTC 

Total


12. INTANGIBLE ASSETS 

2011/12 2010/11 

£000 £000 

At 1 April 2011 (2010) 129 112 

Software acquired during the year 72 17 

Disposals (89) 0 

Transfers 75 0 

As at 31 March 2012 (2011) 187 129 

Amortisation: 

As at 1 April 2011 (2010) 105 86 

Charge for the year 35 19 

Disposals (89) 0 

Transfers 0 0 

Impairments 0 0 


Net Book Value 

As at 31 March 2011 (2010) 24 26 


13. INVESTMENTS 

a) Fixed asset investments 

Page 39 of 47 

Group 

Total 

£000 

Listed 

£000 

Subsidiary 

Undertakings 

£000 

RBGE 

Total 

Investments at cost as at 1 April 2011 586 586 205 791 

Revaluation reserve as at 1 April 2011 163 163 0 163 

Investments at valuation as at 1 April 2011 749 749 205 954 

Add: Additions at cost 17 17 0 17 

Less: Repayment of loan/conversion to grant 0 0 (124) (124) 

Less: Disposals (25) (25) 0 (25) 

Unrealised gain on revaluation at 31 March 2012 20 20 0 20 

Add Cash Movement 33 33 0 33 

Investments at valuation as at 31 March 2012 794 794 81 875 

Cost as at 31 March 2011 611 611 205 816 

Less: Repayment of loan/conversion to grant 0 0 (124) (124) 

Revaluation reserve as at 31 March 2012 183 183 0 183 

Investments at valuation as 31 March 2012 794 794 81 875 

Subsidiary companies 

The investment in the Botanics Trading Company Ltd represents a long term loan of £80,000 and 

£1,000 of share capital of the Botanics Trading Company Ltd which is a wholly owned subsidiary 

of the Trustees of the Royal Botanic Garden Edinburgh. The loan to the Botanics Trading 

Company Ltd is being repaid over twenty five years. It is secured by a floating charge over the 

assets of the company. Interest was applied at 3.5%. 

£000


The investment in the Centre for Middle Eastern Plants Ltd. represented a loan of £120,000. 

Funding to cover this and the accumulated losses was allocated as a grant from the Board 

Reserve when the company was put into a dormant phase from 1 January 2012. 

Listed investments 

Listed company investments form part of the Ferguson Bequest and the Education Endowment. 

The investment portfolio is invested in a range of securities. As at 31 March 2012 the portfolio 

was made up of 14% fixed interest, 5% index linked, 73% equities, 2% alternative and 6% cash. 

The corresponding figures for 2010/11 were 14% fixed interest securities, 5% index linked, 76% 

equities, 2% alternative and 3% cash. 

The only Investment Holdings which are over 5% of the Portfolio Value are Treasury Stock (5.09%). 

b) Current asset investments 

As at 31 March 2012 £1,090,000 of cash was held in term deposit accounts (2011 £1,079,000). 

RBGE Group 

2011/12 2010/11 2011/12 2010/11 

£000 £000 £000 £000 

Term deposits 1,090 1,079 1,090 1,079 

Current asset investments represent term deposits held with commercial banks in line with the 

credit risk policy. The deposits relate to deferred VAT on the John Hope Gateway retained under 

the Lennartz Mechanism and Board Reserve funds. 

c) Financial instruments disclosures 

i) Credit risk 

Credit risk arises from the short-term lending of surplus funds to banks, building societies and other 

third parties as well as credit exposures to RBGE’s customers. RBGE restricts deposits to the 

following banks (HSBC, Royal Bank of Scotland, Barclays, Lloyds TSB, Bank of Scotland, Co- 

Operative and Clydesdale) to a maximum counterparty limit of £300k. The treasury management 

policy is reviewed annually. 

RBGE reviews the credit risk associated with financial institutions on a monthly basis and more 

regularly if market conditions are volatile or other information is made available on the financial 

security of UK banks and building societies. 

ii) Liquidity Risk 

RBGE does not have any external borrowings. 

iii) Market risk 

Changes in market interest rates influence the interest payable on borrowings and on interest 

receivable on surplus funds invested. RBGE is not considered dependent on interest receivable. 

Page 40 of 47


14. STOCKS 

RBGE Group 


£000 £000 £000 £000 

Heating Oil 45 54 45 54 

RBG Shops (retail goods for resale) 0 0 175 179 

Publications 95 72 95 72 

140 126 315 305 

The current cost value of stocks is not materially different from historic cost and accordingly no 

adjustment has been made to reflect current costs. 

The stock of heating oil is held for precautionary purposes to ensure the protection of the living 

collections in the event of power loss, gas supply interruption, national emergency etc. 

15. DEBTORS 

RBGE Group 


£000 £000 £000 £000 

Prepaid expenditure 318 286 331 292 

Sundry Debtors 125 220 197 308 

Due by other group entities 429 407 0 0 

872 913 528 600 

RBGE Group 


£000 £000 £000 £000 

Balances with central government 9 72 9 51 

Balances with local authorities 0 0 0 0 

Sub total of intra government balances 9 72 9 51 

Balances with bodies external to 

government 

863 841 519 549 

872 913 528 600 

Page 41 of 47


16. CREDITORS 

RBGE Group 

Amounts falling due within one year 2011/12 2010/11 2011/12 2010/11 

£000 £000 £000 £000 

Accrued charges 857 153 858 153 

Creditors – Social Security 157 145 157 145 

Creditors - Other 964 1,305 1,006 1,378 

Creditors - VAT 37 30 37 30 

Trade Creditors – Revenue 305 243 305 243 

Trade Creditors - Capital 111 71 111 71 

Botanics Foundation 5 1 5 1 

Deferred severance costs 22 11 22 11 

Due to other group entities 9 18 0 0 

2,467 1,977 2,501 2,032 

RBGE 

Group 

Amounts falling due within one year 2011/12 2010/11 2011/12 2010/11 

£000 £000 £000 £000 

Balances with central government 38 54 38 36 

Balances with local authorities 0 4 0 4 

Balances with public corporations 0 0 0 0 

Sub total of intra government balances 38 58 38 40 


government 

2,429 1,919 2,463 1,992 

2,467 1,977 2,501 2,032 

RBGE Group 

Amounts falling due after more than one 2011/12 2010/11 2011/12 2010/11 

year 

£000 £000 £000 £000 

Deferred Severance 95 68 95 68 

95 68 95 68 

Amounts falling due after more than one 

year 


government 

17. PROVISIONS FOR LIABILITIES AND CHARGES 

RBGE 

Group 


£000 £000 £000 £000 

95 68 95 68 

Page 42 of 47 

95 68 95 68 

RBGE Group 


£000 £000 £000 £000 

As At 1 April 0 0 0 0 

Charged in The Year 8 0 8 0 

As At 31 March 8 0 8 0 

A provision has been made in respect of professional fees relating to the Gateway project (2011: 

£nil).


18. STATEMENT OF RESERVES 

Group Group 

As at 31 Grant in Income Expenditure Revaluation As at 31 

March Aid 

March 



£000 £000 £000 £000 £000 £000 

Unrestricted 

General Fund 112 9,812 1,564 (11,562) 187 113 

Board Reserve 505 0 422 (233) 0 694 

Total unrestricted 617 9,812 1,986 (11,795) 187 807 

Restricted 

Capital Revaluation Reserve 11,228 0 0 0 1,229 12,457 

Capital Grants 28,768 0 1,672 (1,544) 0 28,896 

Projects 668 0 909 (1,002) 0 575 

Total restricted 40,664 0 2,581 (2,546) 1,229 41,928 

Endowments 

Ferguson Bequest 716 0 29 (7) 0 738 

Education Endowment 32 0 1 0 0 33 

QMMG Endowment 23 0 0 0 0 23 

Investments Revaluation 163 0 0 0 20 183 

Total Endowments 934 0 30 (7) 20 977 

Total 42,215 9,812 4,597 (14,348) 1,436 43,712 

The Reserves of the organisation are explained in Note 1 of the accounts. The Board Reserve is 

credited with income that is not related to grant-aided activities; expenditure is at the discretion of 

the Trustees. The Capital Grants fund represents monies given by third parties for specific projects 

that are used to purchase capital equipment. It is released as the assets are depreciated or 

disposed of. Projects are where the Royal Botanic Garden Edinburgh receives money from third 

parties to fund various activities such as specific areas of research and developments in the 

Garden. There were 60 such projects this year. The Ferguson Bequest is an endowment fund for 

botanical projects. The Education Endowment was established to support the educational activities 

of the RBGE. The QMMG Endowment is the Queen Mothers Memorial Garden endowment and 

was established to support the maintenance of the Queen Mothers Memorial Garden. 

19. REVALUATION RESERVE 

Tangible 

Fixed 

Assets 

Investments Total Total 

2011/12 2011/12 2011/12 2010/11 

£000 

£000 £000 £000 

At 1 April 2011 11,228 163 11,391 10,302 

Surplus/(deficit) arising on revaluation in 

year 

1,416 20 1,436 1,216 

Excess of depreciation charge over 

equivalent historic cost depreciation 

(187) 0 (187) (127) 

At 31 March 2012 12,457 183 12,640 11,391 

The revaluation reserve relating to investments is attributable to the Ferguson Bequest and the 

Education Endowment. 

Page 43 of 47


20. DEFERRED GRANTS 

RBGE Group 

2011/12 2010/11 2011/12 

£000 £000 £000 £000 

At 1 April 2011 28,769 29,355 28,769 29,356 

RERAD Capital Grant 1,325 720 1,325 720 

Other Gateway Grant 345 14 345 14 

Other Capital Grants 0 241 0 241 

Less amortisation of capital grant (1,543) (1,561) (1,543) (1,562) 

At 31 March 2012 28,896 28,769 28,896 28,769 

Page 44 of 47 

2010/11 

Capital Grant 12,856 12,650 12,856 12,650 

Gateway 15,449 15,475 15,449 15,474 

Other 591 644 591 645 

28,896 28,769 28,896 28,769 

21. TRADING SUBSIDIARY 

A summary of the results of the wholly owned subsidiary the Botanics Trading Company Ltd. is 

shown below. All values are historic costs. 

Profit and Loss 

Account 


£000 

2010/11 

£000 

Balance Sheet 2011/12 

£000 

2010/11 

£000 

Turnover 1,172 1,118 Fixed assets 0 1 

Cost of Sales (401) (411) 

Current assets 527 499 

Gross Profit 771 707 

Current liabilities (461) (430) 

Other expenses (387) (364) 

Interest receivable 0 0 Loan from RBGE (80) (84) 

Interest payable (3) (3) 

Deferred capital 

grants 

0 (1) 

Net (Loss)/Profit 381 340 

(14) (15) 

Gift Aid to RBGE (380) (339) 

Share capital 1 1 

Retained 

1 1 Accumulated 

(15) (16) 

(Loss)/Profit for the 

year 

profit 

(14) (15) 

The company donates its net taxable profits to RBGE under the gift aid scheme on an annual basis.


22. CONSULTANCY SUBSIDIARY 

A summary of the results of the wholly owned subsidiary the Centre for Middle Eastern Plants Ltd. 

is shown below. All values are historic costs. 

Profit and Loss Account 2011/12 

£000 

2010/11 

£000 

Page 45 of 47 

Balance Sheet 2011/12 

£000 

2010/11 

£000 

Turnover 216 48 Fixed assets 0 0 

Cost of Sales 0 0 

Current assets 1 49 

Gross Profit 216 48 

Current liabilities (1) (32) 

Other expenses (113) (151) 

Interest receivable 0 0 Loan from RBGE 0 (120) 

Interest payable 0 0 

Net (Loss)/Profit 103 (103) 

Retained (Loss)/Profit for 

the year 

Deferred capital 

grants 

0 0 

0 (103) 

Share capital 0 0 

103 (103) Accumulated profit 0 (103) 

0 (103) 

Funding to cover the loan and accumulated losses was allocated as a grant from the Board 

Reserve when the company was put into a dormant phase from 1 January 2012. 

23. CASH FLOW STATEMENT 

Reconciliation of operating deficit to net cash outflow from operating activities 


2010/11 

£000 

£000 

Operating deficit (10,066) (8,235) 

Depreciation charge 1,730 1,689 

Amortisation of deferred grants (1,543) (1,562) 

Gain on sale of fixed assets (5) (15) 

Movement on Impairment 0 (13) 

(Gain)/Loss on sale of investments (6) (8) 

Decrease in stocks (11) (23) 

Decrease/(Increase) in debtors 72 (216) 

Increase/(Decrease) in other creditors 407 (188) 

Increase/(Decrease) in revenue creditors 63 78 

Increase/(Decrease) in long term creditors 27 (12) 

Net cash outflow from operating activities 

(9,332) 

(8,505)


Analysis of changes in net funds in the year 

The group has no borrowings or finance lease obligations. Accordingly the group’s net funds (as 

defined in revised Financial Reporting Standard 1) are equal to its cash balances. The movement 

in cash balances in the year is as follows: 

Page 46 of 47 


£000 

2010/11 

£000 

Opening cash balance 

1,214 

745 

Change in year 1,248 469 

Closing cash balance 2,462 1,214 

24. RELATED PARTY TRANSACTIONS 

The Royal Botanic Garden Edinburgh is a non departmental public body of the Scottish 

Government Rural and Environment Science and Analytical Services Division (RESAS) which is 

regarded as a related party. During the year, RBGE has had a number of material transactions with 

RESAS. 

The Regius Keeper is, ex officio, a Trustee of the Sibbald Trust and the Botanics Foundation and a 

Director of the Botanics Trading Company Ltd (BTC) and the Centre for Middle Eastern Plants 

Limited (CMEP). The Director of Corporate Services is a Director of BTC. Floristics Scientist Tony 

Miller is a Director of CMEP. During the year, none of the Trustees, members of key management 

staff or other related parties has undertaken any material transactions with RBGE. 

25. CAPITAL COMMITMENTS 

As at 31 March 2012 there were capital commitments contracted for but not provided for in the 

accounts of £230k (2011: £48k).


Accounts Direction 

ROYAL BOTANIC GARDEN, EDINBURGH 

DIRECTION BY THE SCOTTISH MINISTERS 

The Scottish Ministers, in pursuance of paragraph 20(3) of Schedule 1 of the 

National Heritage (Scotland) Act 1985, hereby give the following direction. 

The statement of accounts for the financial year ended 31 March 2006, and 

subsequent years, shall comply with the accounting principles and 

disclosure requirements of the edition of the Government Financial 

Reporting Manual (FReM) which is in force for the year for which the 

statement of accounts are prepared. 

The accounts shall be prepared so as to give a true and fair view of the 

income and expenditure and cash flows for the financial year, and of the 

state of affairs as at the end of the financial year. 

This direction shall be reproduced as an appendix to the statement of 

accounts. The direction given on 17 October 2002 is hereby revoked. 

Signed by the authority of the Scottish Ministers 

Dated9 December 2005 

Page 47 of 47

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