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

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