## 



## 

## 

||Page|
|---|---|
|Reference and administrative details of the charity, its Trustees and advisers|1|
|Trustees' report|2 - 7|
|Independent auditors' report on the financial statements|8 - 11|
|Statement of financial activities|12|
|Balance sheet|13- 14|
|Statement of cash flows|15|
|Notes to the financial statements|16 - 37|





|Trustees|Mr P. R. Fitzgerald|
|---|---|
||Mr C. M. P. Granger|
||Mr P. E. M. Cowdy (resigned 4 December 2023)|
||Ms A Marley (appointed 4 December 2023)|
|Charity registered||
|number|1011180|
|Principal office|Regent House|
||13 - 15 Albert Street|
||Harrogate|
||HG1 1JX|
|Independent auditors|WR Partners|
||Chartered Accountants|
||Belmont House|
||Shrewsbury Business Park|
||Shrewsbury|
||Shropshire|
||SY2 6LG|
|Agent|Carter Jonas LLP|
||13-15 Albert Street|
||Harrogate|
||North Yorkshire|
||HG1 1JX|





## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

## 



## 

## 

|||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2023|2023|2023|2022|
||Note|£|£|£|£|
|Income and endowments from:||||||
|Donations and legacies|3|50,000||50,000|-|
|Charitable activities|4|1,073,927||1,073,927|1,085,856|
|Investments|5|22,843||22,843|82,511|
|Other income|6|3,489||3,489|1,986|
|Total income and endowments||1,150,259||1,150,259|1,170,353|
|Expenditure on:||||||
|Investment management|||779|779|7,417|
|Charitable activities|8|7,286,890||7,286,890|7,545,643|
|Total expenditure||7,286,890|779|7,287,669|7,553,060|
|Net expenditure before net losses on||||||
|investments||(6,136,631)|(779)|(6,137,410)|(6,382,707)|
|Net losses on investments|||(953)|(953)|(60,951)|
|Net expenditure||(6,136,631)|(1,732)|(6,138,363)|(6,443,658)|
|Transfers between funds|21|7,392,170|(7,392,170)||-|
|Net movement in funds before other||||||
|recognised gains/(losses)||1,255,539|(7,393,902)|(6,138,363)|(6,443,658)|
|Other recognised gains/(losses):||||||
|Gains/(Losses) on revaluation of assets|||(2,963,733)|(2,963,733)|5,863,733|
|Net movement in funds||1,255,539|(10,357,635)|(9,102,096)|(579,925)|
|Reconciliation of funds:||||||
|Total funds brought forward||(1,769,733)|62,242,881|60,473,148|61,053,073|
|Net movement in funds||1,255,539|(10,357,635)|(9,102,096)|(579,925)|
|Total funds carried forward||(514,194)|51,885,246|51,371,052|60,473,148|





## 

## 

||||2023||2022|
|---|---|---|---|---|---|
||Note||£||£|
|Fixed assets||||||
|Intangible assets|13||28,870||28,870|
|Tangible assets|14||12,755||16,347|
|Heritage assets|16||57,284,888||61,450,039|
|Investments|17||-||645,194|
|Investment property|15||960,000||960,000|
||||58,286,513||63,100,450|
|Current assets||||||
|Debtors|18|489,586||474,096||
|Cash at bank and in hand|25|176,336||1,497,513||
|||665,922||1,971,609||
|Creditors: amounts falling due within one||||||
|year|19|(709,028)||(738,911)||
|Net current liabilities / assets|||(43,106)||1,232,698|
|Total assets less current liabilities|||58,243,407||64,333,148|
|Creditors: amounts falling due after more||||||
|than one year|20||(6,872,355)||(3,860,000)|
|Net assets|||51,371,052||60,473,148|
|Total net assets|||51,371,052||60,473,148|





||THE WHELER FOUNDATION|THE WHELER FOUNDATION|||
|---|---|---|---|---|
||||^||
||BALANCE SHEET (CONTINUED)||||
||AS AT 5 APRIL 2023||||
||Note|2023<br>£||2022 r|
|Charity funds|||||
|Endowment funds|21|51,885,246||62,242,881|
|Unrestricted funds|21|(514,194)||(1,769,733)|
|Total funds||51,371,052||60,473,148|





## 

## 

||2023|2022|
|---|---|---|
|Cash flows from operating activities|||
|Net cash used in operating activities|(6,310,230)|(6,578,880)|
|Cash flows from investing activities|||
|Dividends, interests and rents from investments||82,511|
|Purchase of heritage assets|(23,264)|(34,404)|
|Purchase of tangible fixed assets|(663)|(8,992)|
|Proceeds from sale of investments|644,241|2,002,596|
|Proceeds from sale of heritage assets|1,224,682|215,622|
|Loss on disposal of investment|953|56,472|
|Revaluation loss on investment||4,479|
|Net cash provided by investing activities|1,845,949|2,318,284|
|Cash flows from financing activities|||
|Cash inflows from new borrowing|3,143,104|3,000,000|
|Net cash provided by financing activities|3,143,104|3,000,000|
|Change in cash and cash equivalents in the year|(1,321,177)|(1,260,596)|
|Cash and cash equivalents at the beginning of the year|1,497,513|2,758,109|
|Cash and cash equivalents at the end of the year|176,336|1,497,513|
|The notes on pages 16 to 37 form part of these financial statements|||





## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2022|
||£|£|£|
|Grants|50,000|50,000||



## 

||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2022|
||£|£|£|
|Rental Income|1,072,677|1,072,677|1,046,189|
|Timber Sales|1,250|1,250|38,431|
|Environmental Stewardship Scheme|||1,236|
|Total 2023|1,073,927|1,073,927|1,085,856|
|Total 2022|1,085,856|1,085,856||





## 

## 

## 

||Unrestricted|Endowment Total Total|
|---|---|---|
||funds|funds funds funds|
||2023|2023 2023 2022|
||£|£ £ £|
|Investment income - properties|22,843|- 22,843 21,251|
|Investment income - local cash||_ 61,260|
|Total 2023|22,843|22,843 82,511|
|Total 2022|21,436|61,075 82,511|



## 

|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
|||£|£|r|
|Other|interest|3,389|3,389|1,986|
|Other|income|100|100|-|
|Total|2023|3,489|3,489|1,986|
|Total|2022|1,986|1,986||



## 



## 

## 

## 

## 

||2023|2022|
|---|---|---|
||£|£|
|Name of institution|||
|Stalisfield with Otterden PCC|4,000|4,000|
|Stalisfield Village Hall|750|750|
|Bunce Ecclesiastical Charity|2,000|2,000|
|Countryside Learning|15,000|15,000|
|The Country Trust||3,000|
|Yorkshire Agricultural Society||3,000|
|Kent Agricultural Society|-|2,500|
|Eastling Village Hall|1,000|-|
|Otterden Church Fund Agent fee 2021-22|180||
|St Lawrence Chapel Insurance|2,476|2,069|
|St Lawrence Chapel Repairs|250|7,418|
|St Lawrence Chapel pick open safety deposit box||54|
|Countryside Learning -Christmas classroom days sponsorship||1,000|
|St Lawrence Chapel storm damage insurance claim|(2,214)||
|St Lawrence Chapel organ tuning|234||
||23,676|40,791|
||23,676|40,791|





## 

## 

## 

||Unrestricted|Endowment|||
|---|---|---|---|---|
||funds|funds|Total|Total|
||2023|2023|2023|2022|
||£|£|£|£|
|Estate management costs|1,531,613||1,531,613|1,134,025|
|Grants paid (note 6)|23,676||23,676|40,791|
|Surplus on disposal of land|-|||(71,096)|
|Ledston Hall Project|5,731,601||5,731,601|6,441,923|
|Total 2023|7,286,890||7,286,890|7,545,643|
|Total 2022|7,616,739|(71,096)|7,545,643||



## 

||Activities|Grant|||
|---|---|---|---|---|
||undertaken|funding of|Total|Total|
||directly|activities|funds|funds|
||2023|2023|2023|2022|
||£|£|£|£|
|Estate management costs|1,531,613||1,531,613|1,134,025|
|Grants paid (note 6)|-|23,676|23,676|40,791|
|Surplus on disposal of land||||(71,096)|
|Ledston Hall Project|5,731,601||5,731,601|6,441,923|
|Total 2023|7,263,214|23,676|7,286,890|7,545,643|
|Total 2022|7,504,852|40,791|7,545,643||





## 

## 

## 

## 

|||Total|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2022|
|||£|£|
||Staff costs|50,642|45,550|
||Repairs|5,649,347|6,171,386|
||Insurance|233,740|186,718|
||Agent management fees|223,109|255,102|
||Legal and professional fees|430,030|523,361|
||Loan interest|169,574|97,773|
||Bank charges|85,700|534|
||Water, rates and energy|110,948|39,018|
||Motor and machinery expenses|9,987|16,998|
||Website costs|99|100|
||Irrecoverable VAT|151,658|149,396|
||Sundry expenses|26,701|10,334|
||Bad debts|(1,104)|(15,514)|
||Running costs of Education Centre||3,977|
||Depreciation|4,255|5,371|
||Chattels storage costs|-|9,698|
||Governance costs|118,528|76,146|
||Surplus on sale of land|-|(71,096)|
||Total 2023|7,263,214|7,504,852|
|10.|Auditors' remuneration|||
|||2023|2022|
|||£|£|
||Fees payable to the Foundation's auditor for the audit ofthe charity's annual|||
||accounts|10,670|9,280|





## 

## 

## 

||2023|2022|
|---|---|---|
||£|£|
|Wages and salaries|46,100|44,264|
|Social security costs|4,039|807|
|Contribution to defined contribution pension schemes|503|479|
||50,642|45,550|



|2023|2022|
|---|---|
|No.|No.|
|2|2|



## 



## 

## 

## 

|Intangible assets||
|---|---|
||Intangibles|
|Cost||
|At 6 April 2022|28,870|
|At 5 April 2023|28,870|
|Net book value||
|At 5 April 2023|28,870|
|At 5April 2022|28,870|





## 

## 

## 

||Plant and|Motor||
|---|---|---|---|
||machinery|vehicles|Total|
||£|£|£|
|Cost or valuation||||
|At 6 April 2022|41,619|19,095|60,714|
|Additions|663||663|
|At 5 April 2023|42,282|19,095|61,377|
|Depreciation||||
|At 6 April 2022|29,910|14,457|44,367|
|Charge for the year|3,095|1,160|4,255|
|At 5 April 2023|33,005|15,617|48,622|
|Net book value||||
|At 5 April 2023|9,277|3,478|12,755|
|At 5 April 2022|11,709|4,638|16,347|



## 

||Freehold|
|---|---|
||investment|
||property|
||£|
|Valuation||
|At 6 April 2022|960,000|
|At 5 April 2023|960,000|





## 

## 

## 

||Land and|||
|---|---|---|---|
||buildings|Chattels|Total|
||2023|2023|2023|
||£|£|£|
|Carrying value at 6 April 2022|60,637,687|812,352|61,450,039|
|Additions|23,264|-|23,264|
|Disposals|(1,121,161)|(103,521)|(1,224,682)|
|Revaluations|(2,963,733)|-|(2,963,733)|
||56,576,057|708,831|57,284,888|



## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

||2023|2022|
|---|---|---|
||£|£|
|Bank loans|130,749||
|Trade creditors|157,664|29,016|
|Other taxation and social security|(75,391)|(90,551)|
|Other creditors||90,550|
|Accruals and deferred income|496,006|709,896|
||709,028|738,911|



## 

||2023|2022|
|---|---|---|
||£|£|
|Bank loans|6,872,355|3,860,000|



## 



## 

## 

## 

|Statement of funds|Statement of funds||||||
|---|---|---|---|---|---|---|
|Statement of funds - current year|||||||
||Balance at 6|||Transfers|Gains/|Balance at 5|
||April 2022|Income|Expenditure|in/out|(Losses)|April 2023|
||£|£|E|£|£|E|
|Unrestricted|||||||
|funds|||||||
|General Funds -|||||||
|all funds|(1,769,733)|1,150,259|(7,286,890)|7,392,170||(514,194)|
|Endowment|||||||
|funds|||||||
|Estate Property|||||||
|Fund|61,597,687|||(7,392,170)|(2,963,733)|51,241,784|
|Estate|||||||
|Investment Fund|645,194||(779)||(953)|643,462|
||62,242,881||(779)|(7,392,170)|(2,964,686)|51,885,246|
|Total offunds|60,473,148|1,150,259|(7,287,669)||(2,964,686)|51,371,052|





## 

## 

## 

||Balance at|||Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|
||6 April 2021|Income|Expenditure|in/out|(Losses)|5 April 2022|
||£|£|£|£|£|£|
|Unrestricted|||||||
|funds|||||||
|General Funds -|||||||
|all funds|2,644,782|1,109,278|(7,616,739)|2,092,946||(1,769,733)|
|Endowment|||||||
|funds|||||||
|Estate Property|||||||
|Fund|55,699,550|-|71,096|(36,693)|5,863,734|61,597,687|
|Estate|||||||
|Investment Fund|2,708,741|61,075|(7,417)|(2,056,253)|(60,952)|645,194|
||58,408,291|61,075|63,679|(2,092,946)|5,802782|62,242,881|
|Total of funds|61,053,073|1,170,353|(7,553,060)||5,802,782|60,473,148|





## 

## 

## 

||Balance at 6|||Transfers|Gains/|Balance at 5|
|---|---|---|---|---|---|---|
||April 2022|Income|Expenditure|in/out|(Losses)|April 2023|
||£|£|£|£|£|£|
|General funds|(1,769,733)|1,150,259|(7,286,890)|7,392,170||(514,194)|
|Endowment|||||||
|funds|62,242,881||(779)|(7,392,170)|(2,964,686)|51,885,246|
||60,473,148|1,150,259|(7,287,669)||(2,964,686)|51,371,052|
|Summary of funds - prior year|||||||
||Balance at|||Transfers|Gains/|Balance at|
||6 April 2021|Income|Expenditure|in/out|(Losses)|5April 2022|
||£|£|£|£|£|£|
|General funds|2,644,782|1,109,278|(7,616,739)|2,092,946|-|(1,769, 733)|
|Endowment|||||||
|funds|58,408,291|61,075|63,679|(2,092,946)|5,802,782|62,242,881|
||61,053,073|1,170,353|(7,553,060)|-|5,802,782|60,473,148|



## 

## 



## 

## 

## 

||Unrestricted|Endowment|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2023|
||£|£|£|
|Tangible fixed assets|12,755|-|12,755|
|Intangible fixed assets|28,870||28,870|
|Investment property|-|960,000|960,000|
|Heritage assets||57,284,888|57,284,888|
|Current assets|22,460|643,462|665,922|
|Creditors due within one year|(578,279)|(130,749)|(709,028)|
|Creditors due in more than one year|-|(6,872,355)|(6,872,355)|
|Total|(514,194)|51,885,246|51,371,052|



||Unrestricted|Endowment|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2022|
||£|£|£|
|Tangible fixed assets|16,347||16,347|
|Intangible fixed assets|28,870||28,870|
|Fixed asset investments||645,194|645,194|
|Investment property||960,000|960,000|
|Heritage assets|812,352|60,637,687|61,450,039|
|Current assets|1,971,609|-|1,971,609|
|Creditors due within one year|(738,911)|-|(738,911)|
|Creditors due in more than one year|(3,860,000)||(3,860,000)|
|Ttl|(1,769,733)|62,242,881|60,473,148|



## 



## 

## 

||2023|2022|
|---|---|---|
||£|£|
|Net expenditure for the year (as per Statement of Financial Activities)|(6,138,363)|(6,443,658)|
|Adjustments for:|||
|Depreciation charges|4,255|5,454|
|Dividends, interests and rents from investments||(82,511)|
|Increase in debtors|(15,490)|(10,626)|
|Decrease in creditors|(160,632)|(47,539)|
|Net cash used in operating activities|(6,310,230)|(6,578,880)|



## 

||2023|2022|
|---|---|---|
||£|£|
|Cash in hand|176,336|1,497,513|
|Total cash and cash equivalents|176,336|1,497,513|



## 

||At 6 April||At 5 April|
|---|---|---|---|
||2022|Cash flows|2023|
||£|£|£|
|Cash at bank and in hand|1,497,513|(1,321,177)|176,336|
|Debt due within 1 year||(130,749)|(130,749)|
|Debt due after 1 year|(3,860,000)|(3,012,355)|(6,872,355)|
||(2,362,487)|(4,464,281)|(6,826,768)|





## 

##