2021-12-31-accounts

COMPTON VERNEY HOUSE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS 31 December 2021 Charity Regi%tration Number 1032478

Contents REPORTS Reference and administrative information Chair's introduction CEO-Director'5 overview Governors. report Independent audttorfs report on the rinancial statements 29 FINANCIAL STATEMENTS Consolidated statement of financial activities 33 Balance sheets Consolidated stslement of cash flows 35 Principal accounting policies 36 Notes lo the accovnls 40 Compton Verney House Trust

Reference and admini$tratiVg information GOVERNORS Penny Egan, CBE {Chairl Janel 8ell Smith Irelired 15 February 2022) Philip Bunt Sarah Carthew Iretired 15 February 20221 Oliver Cox Julie Finch Samantha Henney Helen Rose Jon Sheaff Ross Sleight Paul Smith Lydia Thoma5 Peter Wllson CHIEF EXECUTIVE Julie Fin¢h, CEO-Dire¢tor EXECUTIVE TEAM Sarah Bunney {Finan¢e & Assets Director) Bernadette O Sullivan {Commercial Director) Thomas Wlliams (Head of Fundraising) Abigail Viner (Head of Exhibitions, Creative Programme and Audiencel REGISTERED ADDRESS Compton Verney Warwick CV35 9HZ CHARITY REGISTRATION NUMBER 1032478 AUDITOR Buzzacott LLP 130 Wocé Street London EC2V 6DL BANKERS Barclays Bank plc 48B & 50 Lord Street Liverpool L2 1TD SOLICITORS Bales Wells & Braithwaile Scandinavian House 2-6 Cannon Street London EC4M 6YH Compton Verney House Trltst 1

Chalr's Introduction Year to 31 December 2021 CHAIR'S WELCOME l am delighted lo welcome you to our 2021 Annual Report. 2021 has been an important year for Compton Verney. ile ensu¥ing that we reduced the impact of Covid-19 on our charity, we have focussed on the longer term developing our mission to connect people, art. nature and creativity. Despite the house and galleries being closed until mid-may, we have welcomed our highest V1511or numbers to dale.. over 127,000 peop5e came to Compton Veiney in 2021. For the first time, the grounds were open all year round, encouraging visitors to enjoy the natural landscape and ecology, as well as the many interventions and events programmed across the grounds. We were also delighted to partner with the Grinling Gibbons Society to celebrate the tercentenary of Grinling Gibbons, showcasing his extraordinary work and that of contemporary emerging catvers inspired by his legacy. We have demonstrated our ability to introduce a mnge of new events in the grounds and work in partnership with a variety of organisations including Coventry City of cultu￿ and the National Po￿aIt Gallery. To strengthen our charity. we have worked towards incorporation and updated our three-year strategy to ensure that inclusivity, environmental sustainability and digital infrastructure all play an important role in our development. We completed an Access Review which will help steer our organisalion toward a more inclusive luture. We have raised our profile through national media and been featured in BBC1 Countryfile, the Guardian, BBC Radio 4 Front Row and the Times. The support of Arts Council England, both through our continued NPO relationship and through the Cultural Recovery Fund. enabled us lo continue lo build our infrastructure and modernise the charity, introducing a new website and Customer Relationship Management System, and extending our digital programme. We are grateful to Arts Council England and the Department for Digital Culture Media and Sport for this vital funding. We have worked hard to increase the secondary spend on sile, procuring new caterers, introducing café pods in the ground5 and revilalising the merchandise in our shops. We also continue to develop relationships with fvnders and donors, and have secured crucial funding for the development of our Naples galleries in 2023 and other projects in future years. Our visitors have experienced a range of exciting activities, events and exhibib'ons throughout the year. From May. we were thrilled to be able to invite schools and groups back to our site, and in the final seven months of the year we welcomed over 1400 schoolchildren to the galleries. As well as continuing to run our ever-popular Forest S¢hool. we Irialled a number of new initiatives to engage local families and young people with art and nature. In December, we opened our first ever show curated by our Youth Pane5. We've continued to invest in the management and accessibility of our collections, re-hanging our Bfit15h Portraits, hosting Inclusive Histories fellowships, and inviting interventions from community partners. l am enormously proud of the inspiration and dedication of our talented team, volunteers and Board members as we continue lo work towards the One Compton Verney vision and visitor experience, whether online or in person. Penny Egan CBE Chair Compton Verney House Trust 2

CEO-Dlrector's Overview Year to 31 December 2021 CEO-DIRECTOR OVERVIEW 2021 Compton Verney is an extraordinary place connecting people, art, nature and creativity. During 2021, we have rther built on the foundations laid by our founder, Sir Peter Moore$, with a clear focus on er¢suring that this cultural venue is genuinely a place fr)r everyone. Building on our new approach to develop our One Compton Vemey proposition for our audiences, we continued with our organisational Cultural change lo become an Ou￿ard facing organisation placing audiences al the centre of planning. design and developments. Our attention is focused on 'Levelling Up,. securing great art for the next generation, fostering inclusivity rurally and across urban areas. promoting health and wellbeing. proactively addressing digilisalion and cultural democracy and integraling art and creativity within the living environment. Once more Covid-19 failed lo dash the excitement and commitment of our board. team and volunteers, despite the galleries being Closed until 181h May. 2021, the grounds were open all year round for the first time. We focused on hyper local and regional audiences a¢¢essing as much of the site as possible during 2021, planning for the future, including our celebrations in 2024 which mark 20 years of Compton Verney and strNing to meet our strategic objectives. Our aGtivities included: For the first lime, successfully opening up the grounds all year round. The strategy to open the ground5 ft)r 12 months of the year has paid dividend with the highest visitor numbers ever experienced at Compton Vemey, 127,000 during 2021. Visitors not only enjoyed the grounds, they were able to experience a vivid array of Cultural events, wellbeing opportunities. exhibitions, ciealive activities and learning experiences. For the first time since charging. children 18 and under enter for free. Finalisation of the Strategic Plan 2021-2024 (March 20211 setting out our vision, mission. value5, culture code and behaviours and our nine strategic aims. Our detailed plans were based on audience research undertaken by Morris Hargreaves Mclntyre reaching out to 20,000 people. to inform the connection be￿een audiences through a Culture segments model. focused markeb'ng and the quality of the visitor proposition. Completion of the Impairment Review which catalogues the necessary capital inveslmenl required to maintain the quality of the visitor experience and up keep of the heritage asset, this report identified the need for investmenl of £8m over 20 years. Commencing our incorporation project, reframing and modernising our charity. updating our charitable objects and developing a legacy archwe of critical information. the prolect was completed in March 2022. Completing the first stage of the Compton Vemey, Equalities Diversity and Inclusion Listening Project. working with Nyasha Pitt. This project was invaluable in enabling the board and senior team to fully engage with clarity the strategic development process. lo place all audiences at the centre of our planning. Thi5 project has initially led to an inclusive round of ￿¢rUitment at board level, volunteer and stsff training and an action plan. Building our reputation through high profile media presence, with a dedicated programme on BBC Counlryfile about the Grinling Gibbons exhibition and our outstanding landscape and natural environment. developed a new partnership with Sky Arts through hosting Landscape Artist of the Year, filmed during the year and being released in spring 2022. During 2021, the Antiques Road Show (filmed 20191 programmes were repeated several times throughout the year. There has also been national media coverage through publications including The Times, Sunday Times. BBC Radio 4- Front Row. Country Life, The Guardian and Art Newspaper. Compton Verney House Trust 3

CEO-Dlrectorfs Overvlew Year lo 31 December 2021 Successfully applying for Arts Council England funding to further support Compton Verney (Department for Digital Culture Media and Sport Culture Recovery Funds 2) with a sum of £460,000 during 2021 and for the extension year of National Portfolio Funding to 2023. Supporting communities through the distribution of 500 Covid Community Engagement Art Packs to the most deprived rural areas in the hyper local area and providing free annual passes to families whose children receive subsidised School rneals, working across a wide range of new community partners. Gaining an improved score for the quality of the visitor experience which was rated at 92)k during 2021140 uplift on 20191. as part of the Visit England Visitor Attraction Quality Scheme. Our front line staff and volunteers continue to uphokl the excellent standard of visitor experience. Secunng strategic partnerships,. in particular. we welcomed Caelum el Teramo (Coventry UK City of Culture partnership) event. as well as Movies by Moonlight, Pottest, Museum of the Moon, Winter Festival, Print and Textile Fairs and a range of other smaller events. At the same time. we launched our new partnership with Fosters catering reopening the restaurant, terrace and outdoor coffee Pods. Demonstrating commercial recovery following closure through launching our collections-linked merchandise. with retail performing well throughout the year. Welcoming over 100.000 visitors to our new café, restaurant and terrace offer and successfully delivering 34 weddings. Diversifying our cultural and creative programme, providing an expansive range of aetivty. engaging with audiences through a range of exhibitions which included Rebecca Louise Law Seasons. M8ry Newcomb.. Nature's Canvas, Grinling Gibbons.. Centuries in the Making, and John Nash.. The Landscape of Love an(5 Solace during a 7-month period of gallery opening. ExploTrng inclusivity and equity in collections development as a central theme. we Completed an Inclusive Histories project drawing on research by fellows Martha Clewlow, Jenni Hunt, Babar Suleman, exploring perspectives of disability, cultural diversity and LGBTQ. Exploring the story of Sir Peter Moores. focusing on the history of Compton Verney, and the origins of the venue and the Collections, the Inclusive Histories project in¢luded working with Narrative Threads. a specialist museum interpretation company. This research will form the basi5 for an interprelalion plan for the site and collections and a film. Partnering with young people through the work of Compton Verney's first Youth Panel culminating in an inslallalion, Digital Biosphere, the group briefed and selected a digital arb'st and worked with the arbsts on the end to end process for the install. Introducing creative play across our grounds and gallery spaces which have been reviewed to assess the ture of erealive play across the whole sile. We worked with Studio Hardie and Muf Architecture to develop the basis of the Play Strategy which will be in¢luded in the Master Plan for the whole site. Refreshing our wolld class collections which have been a focal point for a Portraiture rehang, including community interpretation undertaken by Maokwo and Warwickshire Girl Guides. This project links to our new strategic partnership with the National Portrait Gallery. Diversifying OUT cultural offer in the grounds, we have hosted projects from internationally renowned artists Guerrilla Girls, dance performances by 2Faced Dance Company. and established a strong making, Compton Vemey House Trust 4

CEO-Dlrector's Overvlew Year lo 31 December 2021 environmental and scien¢e-Ihemed series of famity activities. tours and adult courses such as Wild Wednesdays and Woodland Tribe. Enhancing volunteering opportunities through diversification of roles and areas of activity which ￿Su)Ied in over 140 active volunteers providing 12.000 volunteering hours to ensure that our visitor experience and operations We￿ of the highest quality- Completing our Acces5 Audit to ensure that physical. online and intellectual access are Considered in fvjture plans to provide a clear road map lo ensure that Compton Verney becomes a more welcoming experience for everyone. Strengthening OLir digital infrastructure through the introduction of a new website and CRM system. Eneouraging environmental 5UStainability, embracing the 'no mow May, initiative.. leaving selected areas to ffower and sel seed adds lo the habitat enrichment, and lends weight to a nationwide idea growing in popularity. The ethos tied in with Mary Newcomb and Rebecca Louise Law exhibitions, and the Grounds team and volunteers felt a strong connection to both exhibitions having contributed lo both. Welcoming wildlife with earty bird counts and butterfly sutveys recording strong results. The swan pair nested and raised 4 cygnets, a first on the lake for 7 years. The Grebes raised one chick, Red Kites are now a common sight over the meadows and 25 species of butterfly were recorded on sile. including the rare dark green fritillary. The bat survey ¢onfirmed that the Barbastelle bat was present, for the second time in 8 yeais. In addition. we provided a home to 4 orphaned badger cubs. We are extremely grateful for the commitment of our Board and sub-committees. We are enormousty grateful lo our staff {permanent and casuall, volunteers, freelancers, contractors and artists who have all contributed lo ensuring that the audience experience is of the highest quality, is innovative and connects people to art, nature and creativity, despite the impact of Covid-19 in 2021, Their endurance lo uphold the unique magic of this venue. has been of huge benefit to all of our visitors coming out of the most difficult pandemi¢ period ever experienced. We are also grateful to our Benefactors, Patrons and Supporters., their contsnued support for Compton Verney has been generous. Through our Patrons, we Secured funding for our Demenlia-friendly café for the next three years. We have also secured funds for our exhibitions and collections,. The Henry Moore Foundation and Art Fund's Weston Loan Programme both supported our exhibition Grinling Gibbons.. Centuries in the Making. and investment of £39,000 from the Wolfson Foundation to support the future redisplay of our Naples collections. We were successful in securing an extension of our NPO fvnding from Arts Council England lo 2023, and supported artist Luke Jerram's successful ACE bid for £30.000 towards 2022's 'Crossings' project here al Compton Verney. J_.c •J Julie Finch CE04)iroctor Compton Vemey House Trust 5

Governors, Report Yearto 31 December 2021 The Board of Govemors (the board} is pleased to present the annual report of Compton Verney House Trust together with the consolidated financial statements including the subsidiary company Compton Verney Publications Limited. The financial statements have been prepared in accordance with accounting policies to the financial statements and comply with the charity's trust deed, applicable law and the requirements of the Statement of Recommended Practice Accounting and Reporting by Charitie5.' ISORPI applicable lo charities preparing their accounts in accordance with FRS 102. The organisation is an unincorporated charity, conslituled under a Irusl deed dated 27 August 1993 and registered as a charity on 1 February 1994. OUR MISSION AND OBJECTIVES Our Mission To care for, interpret and animate Compton Vemey's site and culture, engaging audiences with art. heritage and the environmenL providing outstanding visitor experiences, and securing a sustainable and a¢¢e55ible future. Our Values Inspired by our founder, Sir Peter Moores. we believe that great art is for everyone, and that culture should have no boundaries. Al Compton Verney, all are welcome and there is spa¢e for everyone. HOW WE ACHIEVE OUR 08JECTIVES Compton Verney, having been restored by the Peter Moores Foundation, opened in 2004 with the intention of attracting visitors who would not normally visit galleries or museums. We actively welcome the broadest audiences. The Grade l-listed house and 120 acres of Grade Il'_listed landscape includes the park commissioned from Lancelot 'Capability' Brown in 1768. restored in 2018 as a result of a successful bid to National Lollery Heritage Fund. The Assets are open to the public either through lickel purchase. subsidised or free Ichiklren and project participants) entry to enable the development of audien¢es who have not visited before. We present world-class art providing access to six permanent collections of national and internation81 Standards supporting the Government's 'Levelling Up, agenda, providing access to outstanding art in the regions, and global reach through digital content. In addition. we ensure interventions and engagement across the whole site drawing together art. nature and crealivily. We ensure our creative programme engages with new and existing audiences. Our annual exhibition programme is diverse and dynamic, drawing on loans from acros5 the UK and abroad. Having secured Arts Council England IACEI National Portfolio Funding INPOI of £152.760 per annum lo 2023, we experiment in creating connection5 between the landscape, art. collections and the exhibition programme to engage the most diverse audiences in pursuing CVHT'S own strategy and that of ACE. the Let's Create Strategy. Compton Verney House Trust 6

Govemors. Report Year to 31 December 2021 HOW WE ACHIEVE OUR OBJECTives Icontinuedl We commission. loan and originate art, working with artists across all art forms, including digital and performance artists. We maintain and develop our natural environment in a sustainable way through planting new species. undertaking careful land management and recording ecological developments. We are seeking proaclivety to ensure the whole of the estate becomes activated socially. environmentally and creatively. underpinned by an Environmental and Ecological Grounds Master Plan. The Board membeTS confirm they have cornplied with their duty to have due regard to the Charity Commission's guidance concerning public benefit. The Board considers all these initiatives as important means to delivering public benefit. In order to finance these activtties, CVHT and CVPL are engaged in generating income through a wide Tange of commercial activities, including membership, ticket sales, hires, weddings, events, publications. retail and sales of food and beverage. We also fundraise for activities and projects, and undertake both of these income generation functions in order to financially support our charitable objectives and meet our responsibilities as a chaTIty. OUR ACHIEVEMENTS AND PERFORMANCE Strateglc During 2021 the 2021-2024 Strategy was agreed by the board, this focused on Covtd recovery and an operating breakeven position by the December 2023. The strategy sets out 9 strategic aims aligned to our new brand. The strategy is a living document. our performance against the strategy is monitored by the board and funders such as ACE. We have in place dats collection systems, perfomance indicator model and an evaluation strategy. The Lived Brand Aim l.. To strengthen govemance and st￿tegiC leadership During 2021, Compton Verney established a governance project to incorporate. Compton Verney House TNst ICVHTI was established under a deed of trust. After taking professional advice the govemors decided that il be in the best interests of the Gharity to incorporate. After re*iving the consent of the Charity Commission, a new company limited by guarantee was formed and on 31 March 2022 the assets, liabilities, undertaking and staff were transferred to that new ¢ompany. Compton Verney House Charity ICVHCI. At the same time CVHC was apF)ointed as the sole corporate trustee of CVHT and the govemors all retired and were appointed as truslees of CVHC. Health and Safety has been an extremety high priority throughout 2021. with stgnificant expenditure on Covid safe measures to reassure visitors, staff and volunteers that Compton Verney has a safe environment. In terms of the assets. as Compton Vemey approaches ils tsventielh anniversary, the governors noted that much of the refurbishment and instsllation of mechanical and electrical systems took place at similar limes. They therefore commissioned a property review to establish the condition of the house and these systems so that a plan could be developed to refresh and replace these where necessary. The recommendations in the report have been prioritised and necessary work will lake place over several years when ￿sOurceS pemiit. Compton Verney House Trust 7

Governors, Report Year to 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE (continued) The Llved Brand (continued) Aim l." To strengthen governance and strategic leadership (continued) The Sile Master Plan project progressed with due diligen￿ and recording all the work to dale, including suNeys. land ownerships, matters associated with the lake and boundaries. This project will be a significant development from 2022 onwards incorporating our commitment to environmental sustainability as a key featUTe. The Compton Verney sile is under pressure due lo the success of the audience engagement strategy and development of the visitor proposition. Aim 2.. To establish 8 Positive 8nd putposeful organisational cuttu A5 part of developing the strategy, the Cutture Code set out the expected behaviours aligned to our vision, mission, strategy and ways of working. Staff are supported through Personal Development Reviews, an Employee Assistance provider,. coaching, mentoring and training. there are also newly intrOdU￿d staff welfare support mechanisms. During 2021, the￿ We￿ 66 employed at Compton Verney wlh new executive team members joining during the year. Some roles were part furloughed for the first five months during lockdowns and partial site ¢losure, staff have been well supported throughout the Covid period by CVHT. Aim 3.- To fulfil ourstewardship of the Compton Vgrney estate and assets In terms of environmental sustainability, Compton Verney has successfully replaced all petrol tools with battery powered tools during 2021. During the year, Compton Verney staff have developed their knowledge through attending Coventy UK City of Culture, Arts Council England and CW10 (Coventry and Warwickshire visitor attractions group) events and webinars. drawing on ideas for greener retail, hospitality and business planning inlervenlions that will reduce our carbon footprint. In addition, we commissioned a Natural Capital Account Report, the natural capital balance sheet shows a total of £23,351. The report recognises the work undertaken over the last 20 years to create a habitat rich environment and also highlights possible improvements. The Experienced Brand Aim 4.. fo invest in the management and accessibility of our collect￿nS We were delighted lo receive a bequest from Lady Grantchester, whose collection of 80 portrait miniatures primarily from 171h & 18th Century has now been accessioned and conserved. Significant loans continued despite Covid. for example, our Canaletto's were loaned lo Tale Britain. forthe Hogarth exhibition INovember2021-March 20221. As part of our programme for 2021 we welcomed new voices and critical engagementwith our sile and collections., this will be a continuous theme as Compton Verney engages further with audiences. In 2021, we hosted three early career Research Fellows, Muhammed Suleman, Martha Clewtow and Jenni Hunt. Their research projeGts engaged in new ways with hidden histories at Compton Verney within collections and the landscape, exploring stories of disability and voicing queer and non-western perspectives. In the second-floor galleries. Jenni Hunt has explored the history of disabled lives through a display of objects from the Folk-Art collection. In 2022, Gallery A will show a film by artist and filmmaker Muhammed Suleman, created in resp)nse to his first vlsit to Compton Verney. Martha Clewlow's research focused on both the Marx-Lambert collection and on qlteer narratives throughout the collections. available as a digltal tour. We commissioned a research project exploring the founding of Compton Verney and the role of Sir Peter Moores working with interpretation specialists Narrative Threads and Foxtrot Films. The outcomes of this Tesearch and interpretation will be installed on site in 2022. Cornplon Verney House Trust

Govgmorn, Report Year to 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE {¢ontinuedl The Experlenced Brand (continued) Aim 4.. To invest in the manag8mgnt and acceswbility of our Collect￿nS (continued) Compton Vemey successfulty bid to become a partner in the National Skills Sharing Partnership with the National Portrait Gallery, as a precursor lo a rehang of the British Portraits collections, enabling more accessible and audience-friendly interpretation. Our approach lo working with audiences and collects'ons development, is to enable co-production of interpretative messages and new narratives. For example, there was an inslallalion of 2Faced Dance film in the Coxon Reading Room, inviting in 'We are Maokwo. exploring female narratives in art and developing relationships with WanNi¢kshire Girl Guides and Make Space for Girts who explored other new perspectives related to the collections. Im8g&.' 2Fa¢ed Dance Perfom>an¢e Looking foThvard, Compton Verney has been awarded £39,000 funding from the Wolfson Foundation for the redisplay of our Naples collections in 2023. In addition, we have developed a research partnership with Centre for the Art and Architectural History of Port Cities I Centro per la Sloria dell'Arte e dell'Archilettura delle Citt Portuali, a partnership be￿een the Edith O'Donnell Inslrtule of Art History at the Universty of Texas at Dallas and the Museo e Real Bosco di Capodimonte as part of this project. In the future, planning collections interventions, assessing interpretative methodologies and ￿ntractIng with national institutions to loan works of art to juxtapose collections drawing out new narratives will be constant themes. Compton Verney House Trust

Governors, Report Year lo 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Icontinuedl The Expwlen¢od Brand (continued) Aim 5.. To develop an interdisciplinary approach delivering immersive experiences Creative play and exploration has been a central theme. Studio Hardie undertook consultation and engagement activity associated with the development of a play slrategy for the site which will be incorporated into the Site Master Plan 2022-2026. In addition, Muf (Art and Archilecturel explored a creative plan within the gallery and house spaces, the Woodland Tribe construction day camp was hugely $uecessfvJl and will be repealed in 2022. Image.. Woodland fiibe Our exhibition programme was launched in May 2021 highlighting the importance of nature, when the house re- opened lo the public. Mary Newcomb.. Nature's Canvas was extremely well received, a natural scientist. farmer and artist, with a life rooted in art and nature, this exhibition was the most extensive survey of Mary's work to dale. At the same lime, Rebecca Louise Law.. Seasons, captured the differing chara¢leristscs of the seasons, in an immersive and visually stunning Installation of 250.000 preserved flowers. During the Summer, our partnership with Art Night-lsabel Lewis. introduced a new project to the Women's library exploring Lichen and connections to nature. Compton Verney House Trust 10

Governors, Report Year to 31 December 2021 Images." Left. Mary Newcombe Exhibition. Right.. Rebecca Louise Law During the autumn, Grinling Gibbons.. Centurles in the Making was launched, a partnership with Grinling Gibbons Society, exploring how his bold new direction changed the landscape of British Carving. sculpture and interiors. and how his extraordinary talent inspired historic and contemporary artists. John Nash.. The Landscape of Love and Solace in partnership with Eastbourne's Towner Gallery saw Compton Verney hosting the most comprehensive exhibition of John Nash's work over the past 50 years. Image.. Grinling Gibbons Exhibition Compton Verney House Trust 11

Governors, Report Year to 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Icontinuedl The Experfen¢ed Brand (conlinued) Aim 5.. To develop an interdisciplinary approach deliv8ring imme￿1Ve exp8ri8nces (conlinuedj Our digital reach increased as we progressed development of digital content. In January we launched the 'Love Compton Verney, films, enabling audiences to re-engage with the venue in new ways, other content in¢luded- Rebecca Louise Law and Mary Newcombe online films, 'We are Maokwo. Instagram project and online wellbeing resources. Strategically, we undertook a review of our digital content potential, 2 report sets out the actions we need lo take to progress our digital presence. Digital content was accessed from 187 different countries across the world. Aim 6.- To significantly increase access and community engagement During 2021 we have focused an Equalities, Diversity and Inclusion listening project. this enabled Ilebate, learning and understanding at board level, in the executive team and in developing staff and volunteers. This project continues to inform how Compton Verney is shaped inclusively alongside the Goss Access Audit which was undertaken at the same ty'me. Both actions plans are imtx)rtant documents a5 we embark on the Site Master Plan briefing phase, and more imrnediale actions, for example, we have lowered the height of the Portrait collection in line with accessibility best practice. We also focused on site-wide creative learning. play and engagement, introducing a new core programme of public-facing workshops, courses and events established. This activity is aligned lo strategic plan and manrfeslo. and at the same time responding lo audience needs and relevance and included holiday clubs. adult skills w0￿$hOpS, and school holidays activities14.000 participants). Volunteering pra¢li¢e has deepened through our work with the National Council for Volunteers with over 140 Volunteers providing 12,000 hours of support. The profile of our extraordinary volunteering group has diversified, and their range of skills contribute to the development of Compton Vemey across marsy functions. Image." SummerArt Club Compton Verney House Trust 12

Governors, Report Year lo 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Icontinuedl Tho Experleneed Brand (continued) Aim 6.. To $1gnrf￿antIY increase 8cc8ss and con7munity engagement (continued) During the Covid closure period, the grounds welcomed many people who look part in activities such as the Spring Wellie Walk. An aspect of the development of the Mary Newcombe exhibition, Artist Rachel Masseys designed a 'Walk towards, trail encouraging wellbeing and mindfulness. Image., West Lèwn AS part of the focus on environmental responsibility. the Rotary Club Young Environmentalist of Ihe year competition was held through online blog posts. We also engaged with the Banbury Futures institute. Vwkham Park School students and Star Fish Collabootive in the offsite creation of Nature Diaries project forming part of the Rebecca Louise Law exhibitions. Woodland Tribe held construction workshops for children which resulted in a new temporary 'fort' structure in the 9rounds. The Big Butterfy Count project added important data to the Butterfy Conservation App. As we reopened for the first exhibition in 2021, {Rebecca Louise Lawl, we were able to welcome back Welcombe Hills SEN Students and Staff. who not only were the first school back lo Complon Verney butwere also embarking on their first visit from school since Covid-19 outbreak. Compton Verney also participated in 'Art in the Park. at Learnington Spa and held workshops With Keiran Stiles (Landscape painting}, Kate Green (photography landscape). lan Jelly from the Wildlife Trust led a talk on Living Landscapes and Kinelon RAF returned with their STEM Ambassador programme and WQfked closely with Think Forward. Our new holiday clubs were fa¢ilitated by artists and educators, this was a new model which was tested lo devise the offer for 2022, introducing Warts and All Theatre as a partner in this project. Working with a new Youth Advisory Panel was an important project for Compton Verney, collectively, young people curated and commissioned an artist, whose work culminated in a digital inslallalion and visitor experience. the Digital Biosphere. Compton Verney House Trust 13

Governors, Report Year to 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Iconlinued) The Experlenced Brand (continued) Aim 6.. To s￿nIfiCant1Y inctE8se acc8ss and community engagement (continued) A new range of partnerships were established with the Men's Sheds and Foundation House, Warwickshire Moth Group, WaNickshire Natural History Society. Rugby Arch8eologi¢al Society and D3 who run wild swimming in the lake. The Communicated Brand Aim 7.- To 8Stablish Compton V8m8y as a singular destinat￿n During 2021, Compton Vefney received a significant amount of press coverage from across the UK and beyond. The largest arsd most wide-reaching piece of coverage was the appearance on BBC1 Countyfile in November. Not only was this broadcast in all the BBC regions, bul the show was strongly promoted in the fnedia, with highlight listings in the D8ily Mail and R8dio Times. Compton Verney also received daily press coverage throughout September in both national and regional press for the popular Grinling Gibbons exhibition. It featured as one of the top shows lo see in the D8ily Telegraph. The Times, Th8 Sunday Times. Daily Mail. The Gu8rdi8n. Prospect. and Tom Sulcliffe visited for BBC Radio 4 Front Row, doing a 10-minute feature on the exhibition. There were 967 articles posted1779 digital and 188 tradilionall, with the Advertising Value Equivalent al £5.46m and a potential reach of 446 million. Compton Verney increased Instagram followers by 33Uh in a year and Facebook followers by 15°/0. Compton Vemey have worked with Fish in a Bottle to produce a new website which went live in November, this is being integrated with Spektllx ICRM Sysleml. our new CRM system. In addition, the digital signage strategy project was completed, with new di9ilal signage integrated as part of the visitor journey. The Engaged Brand Aim 8.. To build a Compton Vemey community The new CRM syslem, facilitates better stewarding of relationships with Members. Benefactors, Patrons, and Supporters, capturing data that enables Compton Vemey lo identify which particular activities we need lo profile for certain audiences to build better relaliorsships. The move to 12 month opening has paid dividend, adding value to the membership offer and new pricing strategy. with greater secondary spend on site and bookings for commerGial events. Our partnerships in 2021 were extensive, not only in delivering the programme. but also working across Warwickshire with unitary authorities, borough councils, with funders and cultural organisations.. schools and voluntary organisations to promote and present our One Compton Vemey approach. Compton Verney has also further established a higher profile with national inslilulions including, the British Library. National Gallery, National Portrait Gallery and British Museum. We have worked focally to ensure that our neighbours are well informed, and where. p05s1ble forge partnerships lo underpin joint activity, e.g Coventry. UK City of Culture. Compton Verney House Trust 14

Governors, Report Year to 31 De¢ember 2021 OUR ACHIEVEMENTS AND PERFORMANCE {conlinued) The Engaged Brand (continued) Aim 9.. To achieve financial sustainabil We have built resilience in our governing documents, reviewing poli¢ies (Fraud, Cyber Security) and updating our financial regulations. we have improved budget management and accounlability. We have further strengthened our financial reporting and dosed out the historic VAT matter. Commercial development has enabled Compton Verney to trial new ways of engaging aUdIen￿S ulili5ing the whole site. Events such as Movies by Moonlight, Textile Fair and Print Fairs were well received. Im8ge.' f$xtile Fair We produced ourfirsl December family showcase, enlitled'wnter Festival,. A range ofevents were offered across the sile including.. a visit lo Father Christmas in the magical woodland grotto; Festive Afternoon Teas in the spectacular Adam Hall.. late-night music.. an outdoor Christmas market., evening gallery openings and musical concerts in the Chapel. Over 3.000 visitors enjoyed the activities. Imgge." Winter Festival Compton Verney House Trust 15

Governors, Report Year to 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Icontinuedl The Engaged Brand (continued) Aim 9.. To achieve financial sustainabilify 'Caelum el Teramo,, a high-wire event in partnership with Coventry UK City of Culture. created a 5pects¢ular performance within our outdoor space Old Town Meadow and across the lake. We welcomed over 3.000 people lo enjoy the tslented aerial arts"sls' display. Over 60% of visitors were new to Compton Verney and travelled from Coventry to expefience the show. which received national press coverage. Image.. Caelum el Teramo Potfest by the Lake was a three4ay selling fair showcasing ceramic artists from around the UK. Over 2,500 people enjoyed the mix of artists in marquees on the lawns in front of the house. This event brought many first- tlme visilors to Compton Verney. Image.. Polfest by the Lak8 Compton Vemey House Trust 16

Governors, Report Year lo 31 December 2021 OUR ACHIEVEMENTS AND PERFORMANCE Icontinuedl The Engaged Brand (continued) Aim 9.. To achi8ve financial sustainability Following a competitive tender process, Fosters Catering were appointed as the preferred supplier of food and beverage. The café, terrace and outside offer through the provision of Pods and stretch tents has much enhanced our food offer. Other activities included 32 weddings over 7 months of full site opening, with new booking5 largely as a result of virtual tours and others carried fofward from 2020. We are also grateful to our Benefactors, Patrons and Supporter5', their continued support for Compton Vemey has been generous, ¢ontribuling £35,000 in 2021 through their membership. Through our Patrons, we also secured £7,500 funding for our Dementia-friendly café over the next three years and an unrestricted £18.750 donation to support Compton Verney. We have also secured funds for our exhibitions and collections,. The Henry Moore Foundation, £10,600 8nd Art Fund's Weston Loan Programme, £22,500 both supported our exhibition Gnnling Gibbons.. Centuries the Making. and investment of £39,000 from the Wolfson Foundation lo support the future redisplay of our Naples collections. We were successfijl in securing an extension of our National Portfolio Organisation funding from Arts Coun¢il England to 2023. essential funding lo support the development of the cultural programme. Artist Luke Jerram's successful ACE bid for £30,000 towards 2022's 'Crossings' project here at Compton Verney was also Suc￿sSfUl. As an affirmation of the value of all the hard work through the year. the Visit England Visbtor Attraction Quality Scheme awarded an overall mark of 92U/o overall with an attraction score of 98¥0 {up from 880kn in 20191. their report staled.. This perfom?ance, 8chieved against the backdrop of the global Covid-10 pandemic, Trflects an excellent ￿sponSe lo the Seve￿ challenges of 2020r21. 8s well as impressiv8 resilience and creativity. The attraCt￿n score of98% again demonstrates that Compton Verney offers an excepfionallyhigh qualityproducl and the over811 experience is mgmor8bl8 8nd educational as well as uplifting. Future plans Our future plans are based on 'One Compton Verney,, a Manifesto for an extraordinary place. This new manifesto has been approved by the Board of Governors and forms the basis of our Ihree•year strategy 2021-2024. Our strategy is to further focus on the visitor proposition to ensure that we are more inclusive, and recognised by a wider range of people, to grow revenues and surpluses and improve the overall financial position of the charity as we focus on major developments. The basis ofthe strategy is rooted in the new Manifesto. brand development. organisational change and a view to the next 20 years. ONE COMPTON VERNEY- A MANIFESTO FOR AN EXTRAORDINARY PLACE An extraordlnaryplace We are One Compton Verney.. more than an art gallery. a house and a park. Ralher than separate elements, our exhibits, interpretstion, education, activities, experiences. events. facilities, services and digital presence are deeply integrated. We deliberately blur the perceived boundaries be￿een visual and performing arts, indoor and outdoor, architecture and landscape. science and nature. CTealivity and learning, digital and analogue, and visiting and participating. Compton Vemey House Trust 17

Govemorn, Report Year to 31 De￿mber 2021 ONE COMPTON VERNEY- A MANIFESTO FOR AN ExfRAORDINARY PLACE Icontinuedl We connect everyone to art, nature and creatlvity Our galleries, spaces and grounds are places for contemplation, conversation. musl¢, performance, storytelling. learning. making, gardening. play and creative response. This fascinating and ever-changing cultural kaleidoscope is magical, it envelops you and invites your engagement. This engagement promotes visitors. wellbeing, physical and mental health. We are a catalyst for Ideas We a￿ a platform for dialogue, debate and interaction with society,. a generator of new ideas and a facililalor of how lo action them. To do this, we convene artists, creatives, writers, dancers, musicians, scienlisls. academics and specialists with our audiences. Together, through discussion, debate, research, experiment. ¢O-crealion, dynamic encounters and unique experiences, we explore contemporary ideas, innovative solutions to pressing problems. new interpretations. multiple perspectives and ehallenge traditional narratives. We Invlte you to spend deep. meanlnglul tlmo A visit to Compton Verney is an extraordinarily immersive experience with a profound sense of place. We want you to relax and spend deep, meaningful time in our landscape. and with our art. But we can also animate and provoke. slimulale and heighten all of OUT senses. We invite you to roam. explore and discover, lo be yourself, lose yourself and find yourself, feel free, and maybe try Something you have never done. For you and those yo love, we want your visit lo be joyful. playful. surprising and delighting. Your search for truth and beauty will bring food for thought and a feast for the soul. A visit to Compton Verney is a lonic,- it energlses, nourishes, rejuvenates and uplifts. We experlment, Influence, Ignlte and Insplre Everything we do is done with careful reflection, great commitment and attention to detail. Our knowledge base, expertise, reach and international standing give us the authority to innovate. We are agile and proactive, inventive and entrepreneurial and have the courage to lake and manage risks. learning from every experiment. We influence arts praGlilioners, environmentalists and scientists, igniting and inspiring the next generation. We think globally arjd act locally We take a stand and contribute to a better, kinder world. Specfficalty. we champion environmental sustainability, build audience diversity and equity. deliver transformative learning outcomes and commit to social responsibility in everything we do. We are for everyone We leach out to engage the widest possible audience. We welcome you and your family to ours and invite you lo join us. We support our visitors to feel safe, al ease and al home. We count on your support to sustain Compton Verney for the fvture. We want one visit to mean Ihat you will carry a piece of us with you until you return. Compton Verney House Trust 18

Governors, Report Year to 31 December 2021 ONE COMPTON VERNEY- A MANIFESTO FOR AN ExfRAORDINARY PLACE (continued} Our key areas of focus will be-. The Llved Brand Completion of our incorporation project, working wtth the Board and sel up of CVHC (March 20221 retaining a comprehensive archive. To develop and support staff in order to deliver the strategy and ensure Compton Vem8y is a responsible and positive employer, through staff development, PDRS and opportunities to shape the organisation. To draw out the priority asset development areas and successfully deliver the propety review and maintenance p18ns, integrating the EDI Listening Project, Access Review and Creative Play Strategy and Master Plan 2022-2026. Complete the systems review project. website development and implementation of 5yStem5 across the sile at all levels to improve efficiency and effectiveness. Ensure a fit for purpose organisation, artistically, inclusively. accessibly, digitally, sustainably. physically and economically. in order to meet the mission, vision, values and charitable objects through strategic plannin9, bench rnarking, conlextualisation and appropriate development. The Experlenced Brand Further develop collections through restating the agreement behveen Compton Verney Collections Settlement ICVCSI and CVHC to ensure that the strategy can be delivered, provide greater access and engagement and achieve Arts Coun¢il England Accreditation. Develop a lasting. vivid and memorable offer for visitors to experience in our celebration year. 20 years of CVHC in 2024. Plan thoughtfully, the programme to 2026 in order to maximise quality, audience development and footfall opportunities. providing depth and breadth of opportunity and ability to meet the objectives of the Slratsgy and audience needs. Deepen and broaden aC￿sS lo Compton Verney through a successfijl application to Arts Council England. National Portfolio Organisalion investment and other funding sources. The Communicatgd Brand Fully roll out the new brand. and deliver against a hero Ma￿etIng campaign to in¢￿aSe awareness and economic sustainability. Cascade fully the Culture Segments model, use of the audience development proforma and delivery of the evaluation and data capture model lo reflect on learning to inform growth and improvement. Maximise digital channels to sustain foo￿all, build awareness, capilalise on up-selling and meet audience expectations of the visitor experience in person. Compton Verney House Trust 19

Governors, Report Year to 31 December 2021 ONE COMPTON VERNEY- A MANIFESTO FOR AN E￿rRAoRDINARy PLACE Icontinuedl The Engaged Brand Relaunch and grow the Benefactors, Scheme, to add value to the charity's work and audience impact. Clarify strategic partnership framework as aligned to the ambitions of Compton Verney to 2026. Develop and deliver the fundraising strategy in-year. and plan for future years to deliver the ambitron, quality and reath of activity, working up the Site Master Plan 2022-2026 funding model. Deepen effective delivery of commercial activrty to realise the surplus and trading margins required to support the business model and build a sustainable future for Compton Verney. Ensure that financial management is simple and efficient, in order to maximise servicing the functions and enable key accountabilities. performance dats used to inform developments and business development. OUR GOVERNANCE AND ADMINISTRATION rhe Charity Structure CVHT was established by the Peter Moores Foundation under the leadership of Sir Peter Moores and the venue opened In 2004, under the original Articles. Compton Verney House Trust is currently in the process of incorporating and is updating ils governing document lo reflect this and Current best practice. A Board of Govemors is responsible for govemance and overall control of the charty and meets up to five times a year. The staff of the Charity, under the dire¢tion of the CEO-Direclor. is responsible for the day-to-day delivery of the charity's objectives and the policy decisions, as agreed by the Board. Directors and Governors The following Governors were in office during the year and since the year*nd'. - Penny Egan CBE- Chair Janet Bell Smith Iretired 15 February 20221 Philip Bunt Sarah Carthew Irelired 15 February 2022} Oliver Cox Julie Finch - Ex-officio {Staff appointed rolel Samantha Henney Helen Rose Jon Sheaff Ross Sleight Paul Smith Lyéia Thomas Peter Wilson Compton Verney House Trust 20

Govemors, Report Year to 31 December 2021 OUR GOVERNANCE AND ADMINISTRATION Iconbnuedl Dlrectors and Governors (continued) All members of the Board ¢onstitule as Governors of the charity for the puipose of charity law. The Board comprises a maximum of 13 elected Governors, each of whom is recruited through an open call, and appointments are finalised through the Nominations Committee and one appointed Ex-officio Govemor. The Governors are recruited for their expertise in diverse areas, including governance, finance and risk management. HR, marketing, commercial skills. culture and heritage. environmental sustainability and natural environment. digital development and major projects. On appointment to the Board, Governors are sent comprehensive pack of relevant documents lo enable them lo understand their legal responsibilities to fulfil their roles as Governors. Governors are generally appointed for a tem) of up to four years, which is sel to conclude at the end of the (calendar) financial year. At the end of their term of office, Governors either retire or may be asked by the Chair to offer themselves for one four-year term of ￿-appOIntment All members of the Board receive regular information from the CEO-Director, ExeculNes and Corporate Manager on mallers related lo CVHT. Governors give their time voluntarily and receive no benefits from the charity, but their expenses are covered to ensure that an individual's abilty lo participate is not dependent upon their financial means. The CEO-Direclor is remunerated for her executive capacity and not for her role as a Governor. Executive Team Julie Finch CEO-Director Sarah Bunney Finan￿ and Assets Director Bernadette O Sullivan Commercial Director Thomas Wlliams Head of Fundraising Head of Exhibitions, Creative Programme, and Audience Abigail Viner Organisation The Governors consider that they, together with the executive team, comprise the key management personnel of the charity, in charge of directing and controlling, running and operating the charity on a day-t94Jay basis. The CEO-Direclor is responsible for the day-to-day management of the charity and for implementing all policy decisions as determined by the Board. While still retaining final responsibility, the Board delegates oversight of certain important areas of governance to vo committee5, each of which reF)Orts to and is accountable to the Board. These committees are the Finance and Audit Committee and the Nominations Committee. During the Covid-19 period a Covid-19 GoveTnofS Committee has operated. wh￿h came to an end in August 2021. Remuneration ofthe Executive Team is overseen by the Nominations Committee, with reference to sector benchmarks. Compton Verney House Trust Is an equal opportunities employer. recruitment criteria and procedures ensure that individuals are selected. promoted and Irealed on the basis of their relevant merits and abilities. Vwherever possible. employees are provided with further specialist training to enable thern to broaden their knowledge and ski115 and to advance Iheir careers in the charity and arts sector. Compton Verney House Trust 21

Governors. Report Year to 31 December 2021 OUR GOVERNANCE AND ADMINISTRATION Icontinuedl Oryanisation (Gontinued) The Charity has welcomed interns and those seeking work experience during the year, the interns receiving a Short ¢ontract. We have also employed consultants and specialists abk to support certain areas of change in relation to audience and business development. finan￿ and VAT. governance and marketing and Public Relations. Our charitable work is ￿lIant on the Commitment of our loyal supporters. In particular, lo the teams of volunteers who share a range of diverse skills, we are grateful for all of this support. In addition, our rnembers, Benefactors, Patrons and Supporters have remained loyal throughout the pandemic period, we are also very grateful for their support. Trading activities are mainly undertaken through Complon Verney Publications Limited, a trading company registered with Companies House {registered number 31013271- Fundraising Compton Verney House TTUSI 15 registered with the Fundraising Regulator, and has been compliant with regulations throughout the year. The Charity is reliant on its own team for all fundraising activities and for attracting donations lo the charity. Any funded project is carefvlly managed lo ensure that outcomes are mel. The Governors receive regular reports of Complian￿ as part of their meetings. No complaints relating lo fundraising have bee received during the year. Ourpollcles The charity has policies and guidelines in place to cover wide ranging areas of our business encompassing financial management, asset management, HR, operational management including Health, Child Protectson and Safeguarding Vulnerable Adult Policy. Equal Opportunities Policy. All staff are required to understand and comply with these policies, which we review biannually to ensure that they are suitable for the organisation's structure and objectives. We strive to update our policies through on-going consultations with Governors, staff, volunteers and the public. The Flnance and Audlt Cornmlttee Chaired by Philip Bunt. the Finance and Audit Committee reports to the CVHT Board of Governors. The CVHT Finance and Assets Director submits five-yearly accounts and strategic financial reports to each sub-committee meeting.. the meeting minutes are then circulated lo the CVHT Governors, who are ultimately responsible for reviewing financial perfomiance. The Chair and CEO-Director of CVHT also attend on a regular boSI$. The Finance and Audit Committee provide5 high-level oversight of the accounting systems, prO￿dureS and policies and financial reporting, including budgets and medium-term plans, and makes recommendations lo the CVHT Board on any changes that are required. Nomlnatlons Commlttee The Nominations Committee, chaired by Janel Smith. is responsible for recruiting new Govemois within a defined process, considering Staff remunerations and staff reorganisalions. Lydia Thomas took over as Chair of the Committee in January 2022. Compton Verney House Trust 22

Governors, Report Year to 31 December 2021 OUR GOVERNANCE AND ADMINISTRATION lcontsnuedl Related partles Compton Verney House Trust ICVHTI co-operates with kn related chaTtlies and one related company in order to achieve èts objectives. The charities are the Compton Verney Collections Settlement ICVCS) and the Compton Vemey Fund ICVFI, both founded by Sir Peter Moores. Compton Vwnoy Colloction Sottlemènt (CVCSJ CVCS is a charitable trust Inumber 10858101, set up at the same time as CVHT in 1993. CVCS is chaired by 8rian Allen. The trustees of CVCS oversee the pemianenl collection at Compton Verney, and a loan deed outlines the temis upon which the collection is displayed at CVHT. New CVCS trustees are appointed on either the recommendation of Ihe executive or of existing Iruslees on the basis of their ￿levant expertise. They tend to be museum professionals, able to advise on collection-related issues. The CVHT CEO-Director and other staff attend every board meeting,. other senior CVHT staff attend meetings as appropriate. The Compton Verney Fund (CVF) CVF (number 1134907) was established by trust deed in March 2010 to hold an endowment of £25 million on Compton Verney's behalf. CVF is a separate trust, with a separate Board from CVHT. and stands independently lo ensure its assets cannot be compromised by any potential difficulty encountered by CVHT. During the year Philip Bunt was appointed as a CVF trustee. Compton Verney Publications Llmlted (CVPL) Cttaired by Helen Rose, Compton Verney Publications Limited is wholly owned by CVHT, and undertakes the educational, hire, catering and retsil activity al Compton Verney. The Chair of CVHfs Board of Governors, Penny Egan and Julie Finch CEO-Director. were unpaid directors of CVPL during 2021. Management of rlsk The execukn've and the Board have a strategy for the management of risks faced by the charity. Risk Pro￿sseS are kept under constant review and comprise the following key controls.. Weekly execub've meetings wrth an aim of identifying potents.al risks at any early stage and escalating them when appropriate A formal quarterfy assessment of all the r19ks by the Finance and Audit Commfftee, in conjunction with Ihe senior charity staff. which leads lo the upjaling, monitoring and circulation of a Risk Register to mitigate these risks throughout the year A formal annual review of the charity's risk management process by the Finance and Audit Committee A review of the charity's Risk Register is carried oul at each meeting of the Board Through the implementation ofthese risk management ¢ontrols. the Board has evaluated the main financial and non-finan¢ial risks to the organisation and is satisfied that the risks identified are adequately monitored and managed The key risks for the charity, as identified by the Governors are described below. together with the principal ways in whi¢h they are miligaled.. Compton Verney House Trust 23

Governors, Report Year to 31 December 2021 OUR GOVERNANCE AND ADMINISTRATION Icontinuedl Management of rlsk Iconlinued) If CVHT lacks strategic direction. the future of the Trust could be at risk from deterioration of assets, lack of refreshment of assets and lack of investment in the future. CVHT'S three-year strategy has been further reviewed as a living document {November 2021, April 2022} and will conb'nued to be ￿vieWed and contextualised alongside changes in the extemal environment. If CVHT fails to identfy capital and revenue growth opportunities, increased income will not be achieved and the future sustainability of CVHC will be threatened. This is being addressed through shorter term capital projects to raise commercial income including the temporary car park, catering ouuel in the grounds and Garden House upgrade, longer term the Site Master Plan addresses our growth strategy. If CVHT introduces unplanned additional work, or 15 not realistic about the opacty of the team this can affect morale and delivery. This is addressed through the Strategic Plan, clear person objectives, regular monitoring, board and stsff meetings, data collection and evaluation. If CVHT fails lo comply with leg81 requirements (Charity, Equ81ilies. Dal8 Protection. Employment, tax, Health and Safety, National Government legi$lalion related to Covid-19 reslrictionsl there could be an impact on reputation. Updates from the Charity Commission are acted upon. Cyber Security policy in place as a living document, all policies under review on an annual basis. updated Disaster Plan and Health and Safety plans in place. Statgmgnt of responsibiltties of the governors Law applicable to charities in England and Wales requires the Governors to prepare financial statements for each financial year which give a true and fairview of the charity'5 financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Governor$ should folSow best practice and.. Select suitable accounting policies and then apply them consistently., ObseNe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Pra¢lice applicable to charities preparing their accounting in accordance with the Financial ReF￿rtIng Standard applicable in the United Kingdom and Republic of Ireland.. Make judgements and estimates that ale reasonable and prudent., State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the fi'nan¢ial statements", and Prepare the financial statements on the going concem basis unless il is inappropriate lo presume that the charity will continue in operalion. The Governors are responsible for keeping proper accounting records that disclose w￿th reasonable accLsracy at any time the financial po51tion of the charity and enable them lo ensure that the financial statements comply with the charib.es Act 2011. They are also responsible for safeguarding the assets of the charity and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Compton Verney House Trust 24

Goveinors, Report Year to 31 December 2021 OUR GOVERNANCE AND ADMINISTRATION Icontinuedl Staternent of re$ponsibilitles of the govemoTS {continuedl The Governors are responsible ft)r the maintenance and integrity of the corporate and financial informatio included on the charity's website. Legislation in the Unlted Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. FINANCIAL REVIEW OveThlew Group funds reduced by £227,93112020 increase £903,981). Group income of £3.619,600 and costs of£3,836,743 in 2021 resulted in a deficit before net losses on investments of £217,143. This was above our internal plan. Group income of £3,619.000 fell by £253,657 in the year from £3.872,657 in 2020. Group investments fell by £10,788 in 2021, compared to a loss of £58,811 in 2020. Totsl income Group income came from three main income sour￿$.. 85% from donations and grants1£2,334,7931, 200A Irom charitable activilies1£720,9571 and 16°/o from trading income (£563.616). Donatlons and grants Income from donations and grants of £2,334.793, an annual reduction of 28% from £3.244,71712020)- Our largest donor was the Compton Verney Fund. which donated £1,400,000 in both years. In 2021 Compton Verney received £568,458 of donations and grants linked to the pandemic. Thi5 comprised £460,000 from ACE Culture Recovery Fund 2, £46,708 from Coronavirus Job Retention Scheme, £36.750 from L￿al Re¢overy Grants and £25.000 from the Arts Council Kick Stsrt GranL In 2020 Compton Verney received £1,507,625 of donations and grants linked to the pandemic. This comprised £980,000 from ACE Culture Recovery Fund, £223,500 from National Lottery Heritage Fund, £228,018 from Coronavirus Job Retention Scheme, £70.000 from Compton Verney Collection Settlement. and £6.107 from local recovery grants. The organisation received £152,760 of income from ACE as part of the band 1 NPO inveslment12020.' £152,760) and £90,333 from ACE 8s part of the Small Capital Grant Scheme. The Grinling Gibbons Exhibition received £86,721 of fvndlng from three major donors, The Grinling Gibbons Society £53.621, Art Fund Weston Loan Programme £22.500 and the Henry Moore Foundation £10.600. der work was supported by other trusts and foundalions as set out in note 1b to the financial statements. Compton Verney House Trust 25

Governors, Report Year to 31 December 2021 FINANCIAL REVIEW Icontinuedl Charitable actlvitles The relaxation of restrictions due to the Pandemic saw admissions income rise in the year. Income from charitable activities Imainly admissions income) amounted to £720.95712020'. £465.0001. a 55% increase. Sales of day tickets increased by 152% as the House and Exhibrtions were reopened from May 21. Day ticket sales tolalled £301,69812020'. £199.588). Our Members. who supported throughout 2020, continued to support us in 2021. Membership sales lotalled £301,698 {2020.' £260.4431, an increase of 160A. Income from informal learning, digital and events was £63,05212020'. £67,911), a decrease of 70A. Other charitable income lotalled £38,161 12020.. £17,059}, an increase of 1130k. Income fmm other trading activities and investments Income from other trading aclivitses amounted lo £563,616 12020.. £158.523}, an increase of 255•A as trading activities were able lo restart from May 2021. Income in the ret2il shop £201,824 {2020'. £70,729), an 1850/0 increase. Hire income was £204,589 12020.. £37,590). a 444Qkn increase. Income from our in-house catering commission was £52,446 {2020.' £13.118}, a 300Yo increase. We launched our new Commercial Evenls In 2021 with income of £87.64312020 £01. Events included a Wnter Festival, Movies by Moonlight. Poffest. and Print and Textile Fairs. The Pandemic continued lo impact on educational income, which tolalled £8,22612020'. £8.2021, the same level as 2020- a good achievement as other venues were unable lo welcome schools. Touring of our exhibitions was delayed by a year from 2021 to 2022. resulting in £0 incorne12020 £8,048). OPERATIONAL REVIEW R9view for the year Compton Verney House Trust delivered an operating deficit of £217.143 {2020.' surplus £962,792). The 2021 deficit excluded £470,031 of grant income recognised in 2020 for 2021 activity. Adjusting for this. the Group generated an underlying operating surplus of £252.888 {2020'. £492,761)- Garden Houso The Garden House was let al the end of July 2021, with Rentsl Income received of £10,80012020'. £01. Expendlture The Group. In line with reopening and adopting a grovth strategy saw the expenditu￿ grow by 32%. Staffing costs represent our largest area of expenditure but our people are also the charity's most valued asset. Costs of £1.326.420 were 35% (2020.. 44¥0} of expenditure, as staffing costs increased by £37,540. We invested in additional posts lo grow the Commercial Event Income. The direct costs of public display of the permanent collections fell by 4010 to £983.524 (2020.. £1,025.2321. The direct costs of special exhibitions and projects rose by 152¢kn10 £981.841 (2020.. £389,366). These changes reflect the mix of fixed and variable ¢osts of Group activities. Compton Verney House Trust 26

Governors, Report Year lo 31 December 2021 OPERATIONAL REVIEW Icontinuedl Expenditure Iconlinuedl The direct costs of raising funds rose 87% to £705,339 {2020.' £376,612) reflecting the increase of activity, with increased expenditure on staffing hitting £452.80412020.' £278,164) and cost of sales and exhibitions £251,474 12020.. 68.8751 Support and Governance costs rose by 40A to £1,166,040 {2020 £1,118.6551. Professtonal fees on legal and laxalion reduced by 20% to £78,67712020 £98.024) as work progressed on governance for incorporation but redU￿d on VAT. Strategic projects in 2021 included work with MHM (£35,010) and Boyd Thorpe Catering (£34,427). Prlcing poll¢y Accessibility is a key element of our public benefit offering. We are committed lo enabling as many people as possible to view art and enjoy the grounds regardless of their income and ability to pay. During Covid l¢xkdowns we offered a £5 grounds-only pass (from January to June 20211. There was no price increase in memberships from 2020 10 2021. Investmentpolicy CVHT commissioned a property review in 2020 which has informed the amount of funds required to mainlaln and develop the assets. This will inform the Investment Policy which is currenlty being ¢onsidered in the post Covid- 19 era. Reseryos poII¢y The Group balan￿ sheet shows total Teserves of £28,302,819 comprisin9 restricted funds of £9,954. designated funds of £27,246,866 and general funds of £1.1)45,999. Restrlcted funds The level of Reslricled funds has ￿duced significantly in the year to £9,954 {2020.' £350.1191 as the unspent balance on the ACE Culture Recovery Fund of £339,921 was spent in the year. Deslgnated funds Designated funds are ring-fen￿d by the Governofs for special purposes and the largest is the Building and Gallery Fund of £23,791,367. This represents the investment in the development of the gallery, grounds and other fixed assets. The value of the fvnd fell by £48,765 in 2021- being the excess of annual depreciabon of £249.538 over capital investments of £200.775. Wth the exception of the Garden House investment of £900,000 which could be sold if needed, most of this fund represents assets which are intrinsi¢ to the operation of the charity and therefore cannot be realised as ieserves. The second largest fund is the Building and Gallery Sustainability Fund which is valued at£3,360,635- no Change in the year. The purpose of this fund is to support ongoing development, conservation and maintenance of the estate as well as to provide funding for strategic, artistic and commercial aclivilies. The Arts Council NPO fund represents the expenditure on projects which have been delayed due lo the Pandemic. The end balance of £94,864 comprises of £14,006 for the deinstallation of the grounds art installation, £13,730 for activities originally planned for 2020 but delayed to 2021 and £67,129 for the Morag Myerscough installation in the grounds planned for 2022. Compton Verney House Trust 27

Gov¢rnors' Report Year to 310e¢ember 2021 OPERATIONAL REVIEW Iconb'nued) Unre$trlcted funds The Governors have set a level of reserves consistent with our ability to protect fvture activities prior to the pandemic. nominally unexpected financial risk as be￿een three and six months of expenditure would have been sufficient, however, this is currently under review. The balance at the end of 2021 was £1,045,999. an increase from 2020 of£836,623. This increase is in line with our plan lo increase the value of the general fund. It ￿preSentS 3.2 months of running cosls12020'. 3.5}. The Charity's Assets Acquisitions and disposals of fixed assets during the period are recorded in the notes lo the financial statements. Incorporation Under the Inco￿or8t1On process, the aocountsng policies state that because of the transfer of the undgrtaking it was appropriate to p￿pare the financial st81ements on 8 basis other than a going GOn￿r￿, although this did not result in any changes to the amounts al wh￿h the assets and liabilitAes were recognised in th8 balan￿ sheet as at 31 D8￿mber 2021. Details of the amounts transferr8d are set out in note 22- post balance sheet event. The governo￿ note the emphasis of matter required in these cirCumstan￿S in the report of the 8uditor, but the undertaking is continuing lo operate within the new corporate structure. The fi￿1 financial statements of CVHC will be prepared from incorpor8tion to 31 Ma￿h 2023 and the a¢counb"ng reference date of CVHT ￿11 be ch8nged to ensure consistency. While CVHT has become dormant since the end of the financialyear it will be retained for the foreseeable future to ensure that no chantable incom8 cannot be collected. Approved by the Trustees on 18 101 111 and signed on their behaw by.. Penny Egan CBE Chalr Compton Verney House Trust 28

Independent auditovs report on the financial statements 31 December 2021 INDEPENDENT AUDITOR'S REPORT TO THETRUSTEESOF COMPTON VERNEY HOUSE TRUST Opinion We have audited the accounts of Compton Verney House Trust Ithe'parent charity'l and its subsidiary (the group) for the year ended 31 December 2021 which comprise the consolidated ststement of financial activities, the balance sheets, the consolidated statement of cash lows, the principal accounting policies and the notes lo the accounts. The financial reporting framework that has been applied in their PTeparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally AC￿pted Accounting Practice). In our opinion, the accounts.. give a true and fair view ofthe slate of the group's and of the parent charity's affairs as at 3lDe￿Mber 2021 and of 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 ol the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlemabonal Standards on Auditing IUKI IISAS IUKI} and applicable law. Our re5ponsibilitie5 under th05e standards are further described in the auditorfs responsibilities for the audit of the accounts section ofour report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK. including the FRC'S Elhic81 Standard, and we have fulfilled our other ethical responsibilities In accordance with these. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emphasls of matter- accounts prepared on a bas1$ other than golng concern We draw attentson to the statement regarding going concern in the principal accounting policies. which indicates that the trustees have prepared the accounts on a basis other than a going concern basi5. This is due to the actsvities. assets and liabilities of the charity being transferred to Compton Verney House Charity on 31 March 2022. Our opinion is not modified in respect of this matter. Other infomiation The trustees are responsible for the other information. The other information comprises the information included in the annual report and accounts. other than the accounts and our 8uditorfs report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion Ihereon. In connection with our audit of the accounts, our responsibility is to read the other information and. in doing so, ¢onsider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalement5, we are required to detemine whether there is a material misstatement in the a¢¢ounls or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo reF)Ort that fact. We have nothing to reF)Ort in this regard. Compton Verney House Trust 29

Independent auditorfs report on the Ilnanclal ststements 31 December 2021 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMPTON VERNEY HOUSE TRUST Icontinuedl Matters on which we are required to report by exceptlon We have nothing lo report in respect of the following matters in ￿latIon to which the Charities Act 2011 requires us to report to you if. in our opinion.. the information given in the trustees, annual ￿pOrt is inconsistent in any material respect with the accounts,. or sufficient accounting records have not been kept by the parent charity,. or the parent charity accounts are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control a$ the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement. whether due lo fraud or error. In prepartng the accounts, the trustees are responsible for assessing the group's and the parent charity's ability lo eontinue as a going concern, disclosing, as applicable, matters Telaled to going Concern and using the going concem basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but lo do so. Audltor's responsibilities for the audit of the accounts Our objectives are lo obtain reasonable assuran￿ about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audtt conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstalemenls can arise from fraud or error and are conSide￿d material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prO￿dureS in line with our responsibilities, outlined above, to delecl material misslalements in respect of irregularitie5, including fraud. The extent to which our procedures are Capable of detecting irregLslarities. including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non•compliance with laws and regulations, was as follows-. the engagement partner ensured that the engagement team colleclNely had the appropriate competence. capabilities and skills to idenb'fy or recognise non-cornplianee with applicable laws and regulations,. and Compton Verney House Trust 30

Independent auditor's report on the financlal statements 31 December 2021 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMPTON VERNEY HOUSE TRUST Icontinuedl Audltor's responsibilities for the audil of the accounts (continued) we obtained an understanding of the legal and regulatory frameworks that are applicable lo the group and detemiined that the most significant frameworks which are directty relevant to specific asserbons in the accounts a￿ those that relate to the reporting framework Istalemenl of Recommended Practice.. Accounting and Reporting by Charities prepaiing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland {FRS 1021 and the Charities Act 20111 and those that relate to data protection (General Data Protection Regulation). Vve assessed the susceptibility of the group's accounts lo material misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to their knowledge of actual, suspected and alleged fraud- and considering the internal ¢onlrols in place lo mitigate risks of fraud and non-complianee with laws and regulations. To address the risk of fraud through management bias and override of contro15. we.. performed analytical procedures to identify any unusual or unexpected relationships.. tested journal entries to identify unusual transactions.. and assessed whether judgements and assumptions made in detemining the accounting estimates for the calcuSation of the annual depreciation charge- the allocation of support costs behveen charitable expenditure categories-, and the estimation of future income and expendilure flows for the purpose of assessing going concern were indicative of potents.al bias. In response to the risk of irre9ularilies and non-compliance with laws and Tegulations, we designed prcKedures wh￿h included, but were not limited to.. reading the minutes of meetings of Ihose charged with governance-, and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non4ompliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, If any. Material misstalernents that arise due lo fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further de5¢ription of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at Mvw.frc.org.uklauditorsresponsibilities. This description forms part of our auditols repoit Compton Vemey House Trust 31

Independent auditor's report on the financlal statements 31 December 2021 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMPTON VERNEY HOUSE TRUST Icontinuedl Use of our report This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might slate to the charity's Iruslees those matters we are required to slate to them in an auditor's report and for no olher PLbfF)ose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have fomed. Bl￿ZaCOtt LLP Statutory Auditor 130 Wood Street London EC2V 6DL Date.. 6 Ottober 2022 Buzzacott LLP is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006 Compton Verney House TNst 32

Consolldated statement of flnanclal actlvltles Year to 31 December 2021 Unrestrlcted Restrlcted fund6 funds 2021 Unrestricted Reslrtcted Total funds rund$ 2020 Total Note5 Income from.. Donations and legac￿8 Charitable adivrf(ie$'. Publicdisplays of art colle¢Uon$ 1,906,597 426.196 2,334,793 2.538.950 705,767 3.244,717 720,957 563.616 233 3,191.404 720,957 563.616 233 428,196 3.619.600 465.0 158,523 4.417 3,166,890 465,oao 158.523 4,417 705,767 3.872,657 Investments Total Income Expendlture on: Raising funds. Fundrai51ng c0515 Trading activ5tles ChaFilable 3Glivitie5'. Pubiic displays of pemanent collection8 . Srrial exhibrtionlproject cos15 Total expendlture 266,349 742.160 266.349 742,160 140,338 527.124 140.338 527.124 1,671,487 5Q1.060 3,181.056 1,671,487 1.$85.239 655.687 1.156.747 266,308 655.687 3,836,743 2.819,009 1.685,239 290,856 557.164 290.856 2.￿9,86$ Net Income lexpenditurel before net lo$se$ on Investm¢nts 10.348 1227A911 1217,1431 547,881 414.911 982,792 Net losses on invesknenls 110,7881 110.788 158.8111 158.8111 Nel lexpendlturel Inrome 14401 1227.4911 1227.9311 489,070 414,911 903,981 Transfers be￿￿en funds 19 112.674 1112.6741 32,761 (32,7611 Net movernerrt In funds 112,234 1340,1651 1227.9311 521,831 382,150 903,981 Reconcllla¢lon of funds Total funds brought fowr Total funds carrl8d forward 28,180,631 28,292,865 350,119 28,530,750 27,658.800 9,954 28.302.819 28.180,631 132.0311 27.626,769 350.119 28.53D,750 19 On 31 March 2022 the assets. liabilities and activities of Cornpton Verney House Trust were transferred to Compton Verney House Charity (see note 221. There were no other recognised gains or losses other than those stated above. Movements in fvnds are disclosed in note 19 to the financial statements. Compton Veiney House Trust 33

Balance sheets 31 December 2021 Group 2021 Charity 2021 2020 2020 Notes Flx•d assets Tangible assets Investments 9 23,791,369 23,840.133 23,791.369 23.840,133 10 2,118.173 2.128,961 2,118,173 2,128,961 ..25.909,S42 25.969,094 25,909.542 25.969,094 Curr•nt assets Stock Debtors Cash at bank and in hand 13 14 34,515 621,905 2,395,648 3.052.068 27,723 785,818 2.122,177 2.935,718 575,833 2,371,119 2,946,952 778,912 2.112,007 2.890.919 Liabilities Creditors." amounts falling due within on? ye8r 15 1658,7911 {374,CE21 {553,6n} 1329,2851 Net current assets 2,393.277 2.561,656 2,393,275 2,561,654 Totsl net assets 28.302,819 28,530.7SO 28.302.817 28,530,748 Funds Restricted incorne funds 19 9,954 350.119 9.954 350,119 Unreslrtcted income fvnds Designated funds . General funds Totsl unrestricted funds 27,246,866 27,344,009 27.246.864 27,344.007 1,045.999 836,622 1.045,999 836.822 28,292,86S 28,180,631 28.292.863 28,180.629 Total ros•rv•s 18 28,302,819 28,530,750 28.302,817 28,530.748 Approved by the Board of Trustees on lJ10 I IJDI L and signed on their behalf by= Penny Egan CBE Chalr Compton Vemey House Trust 34

Consolldated Ststement of cash flov￿ 31 December 2021 2021 2020 Note5 Cash flows from 0￿ratIng actlvltles Net cash provided by operating activitie 474013 44,898 Ca$h flowg from Inv8Stlng activitles Dividends, interest and rents from investments Purchasa of frK8d assets Purchase of COIF deposit Sales of COIF investment for cash 233 4,417 1200,7751 {162,2841 12,128,961) {2.218,1891 2.128,961 2,218,189 Net cash used In Inve$ting actlvltlès 1200,5421 1157,8671 Change in cash and ￿sh equivalgnts In th• year Cash and cash equivalents at the beginning of the year Cash and cash equlvalents at the end of the y•ar 273,471 2,122,177 B 2,395,64B 1112,9691 2,235.146 2,122.177 Notes to the statement of cash flows for the ygar to 31 December 2021 A Reconclllatlon of net Income to net cash flow from operatlng actlvltles 2021 2020 Net lexpendlturel Income for the year las per thè stat•m•nt of fjnanelal activities) Adjustments for.. DepreciatHJn charges Ltssses on investments Dividends, interest and rent from investments {In￿ease) decrease in stocks Decrease lincre8so) In debtors Increase Idecreasel in creditors Net cash provided by operatlng actlvitigs 1227,9311 903,981 249.538 10,788 12331 16,7921 163,913 284,729 474.013 249,647 58,811 14.4171 3,653 1489,6461 1677,1311 44,898 B Analy$l8 of cash and cash equlvalents At1 January 2021 Cash llows At31 D•cember 202q Cash at bank and in hand Total cash and cash equivalènts 2,122,177 2,122,177 273.471 273.471 2,395,648 2,395,648 No separate reconciliation of net debt has been prepared as there is no difference be￿een the net cash {debt} of the charity and the above cash and cash equivalents. Compton Vemey House Trust 35

Principal accounting policies 310ecember 2021 Statutory informatlon Compton Verney House Trust is a charitable trust. The registered office address and principal place of business 15 Compton Verney, Warwickshire, CV35 9HZ. Basis of preparntion The accounts Ifinancial statements) have been prepared in accordance with the Slatement of Recommended Practice.. Accounts'ng and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP FRS 1021 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevanl accounting policy or note. These financial statements consolidate the results of the charity and ils wholly-owned subsidiary Compton Vemey Publications Limited on a line by line basis. Transactions and balances be￿een the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances betsveen the companies are disclosed in the notes of the charity's balance sheet. A separate statement of financial aclNilies. or income and expendrture account, for the charity itself is not presented as the summary of the ￿SuIt for the year is disclosed in the notes to the accounts. Publlc benofit entity The Charity meets the definition of a publi¢ benefit entity under FRS 102. Crltl¢al accountlng estlmates and areas of Judgement Preparation of the accounts requires the Govemors and management to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include.. • the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge-, • the allocation of support cost5 betsveen charitable expenditure ¢ategories', • the estimation of future income and expenditure flows ft>r the purpose of assessing going concern (see below). Golng concem The Governors have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Govemors have made th￿S assessment in respect to a period of one year from the date of approval of these financial slalements. As described in the Governors, ￿pOrt, the Charity's assets, liabilities and activities were transferred lo Compton Verney House Charity on 31 March 2022. The GovernoTS have prepared the financial statements on a basis other than a going concern basis. Compton Vemey House Trust 36

Principal accounting poli¢ie$ 31 De¢ember 2021 The Governors acknowledge and recognise the ongoing potential impact of Covid-19 on the future operations of the charity, ils beneficiaries, partners and stakeholders and on wider society. As well as the personal risk to health of ils staff, the charity may lose planned income as the result of the cancellation of events andlor the absence of key personnel, although there may also be some compensating expenditure savings. The reduced opportunities for scheduled face to fa￿ interaction may well impact on the ability lo plan effectively for the medium term but. al the current lime, it is not anlicipaled that the financial solvency of the charity is materially threatened. As detailed in the Governors, report we continue to lake account of the challenges and opportunities that the pandemic poses. This will help ensu￿ Compton Vemey remains relevant and can meet its charitable objects. The Governors do not consider that there are any sources of estimation uncertainty at the reporting date that have significant risk of causing material adjustment to the carryin9 amounts of assels and liabilities within the next reporting period. Incorng Income is recognised when the charity has entitlement to the fvnds. any performance eondFtions attached to the income have been met. it is probable that the income wll be received and that the amount can be measured reliably. Income from govemment and other grants, whether'capTtal' grants or'revenue, grants. is recognised when the charity has entitlement to the funds, any performance condrtions attached lo the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of the provision of a SFecified service is deferred until the criteria for income and recognition are met. Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the ballk. Fund accounting Restricted funds are lo be used for specific purposes as laid down by the donor. Expenditu￿ which meets these criteria is Gharged to the fund. Unrestricted funds are donats'ons and other income received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the Govemors for particular purposes. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or conslruclive obligation to make a payment to a third party. It is probably that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Cost of raising funds relate tr) the costs incurred by the chafity in inducing third parties to make voluntary contributions to it. as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of exhibitions undertaken lo further the purposes of the charity and their associated support and governance. Compton Vemey House Trust 37

Principal accounting policies 31 December 2021 Otherexpenditure represents those items not falling into any other heading. Allo¢allon of Support and governance ¢osts Resources expended are allocated to the particular activity where the cost relates directly lo that activity. However, the cost of overall direction and adminislr8tr.on of each activity. comprising the salary and overhead Costs of the central function. is apportioned on the following basis which are an estimate. based on staff time. of the amount attributable to each activity. Cost of raising fvnds 26% Public display of permanent collections 590 SFecial exhibitionslprojects 15% Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with conslitulional and slatulory requirements and include any costs associated with the Strategic management of the charity's acts'vilies. Operating leases Rental charges are charged on a slraight-line basis over the term of the lease. Tangible fixed assets Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated lo activities on the basis of the use of the related assets in those aclivilies. Assets a￿ reviewed for impairment if circumstances indicate their carying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over ils expected useful life. The depreciation rale5 in use are as follows". Freehold pioperty see below Plant and machinery 4 years Fixtures and fittings Motor vehicles 4 years 5 years The Governors consider the residual value of the freehold property to be at least equal lo ils cost, and therefore there is no depreciation charge on the ptoperty. The Governors carry out a review of the propety at least annually tg ensure there is no indication of an impairment to the propety- The balance sheet includes £21,324,213 for the value of the House and Garden House. However. the cost of the freehold propety includes fit out costs such as gallery lighting. In 2016 new buildings were constructed on the estate and in 2017 an additional propety. Garden House. was purchased by the estate. The Car Park is treated as fil out cost. The assets will be written down to estimated residual value over their expected useful life and depreciated as follows.. New buildings 25 years Fit out costs 10 years Garden House no impairment Compton Vemey House Trust 38

Prfn¢lpal ac¢ountlng pollcles 31 December 2021 Investments Inve51menls are a fom of basi¢ financial instrument and are initially recognised al their transa¢lion value and subsequently measured at their fair value as al the balance sheet date using the closing quoted market price. Any ehange in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading"Nel gains Ilossesl on investments. in the statement of financial activities. The charity does not acquire put options. derivatives or other complex financial instruments. Investment In subsldlarles Investments in subsidiaries are at cost. Stocks stocks are staled al the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stock5 can be sold in the normal course of business after allowing for the costs of realisalion. Provision is made where necessary for obsolete. slow moving and defective stocks. Debtors Trade and other debtors are recognised al the settlement amount due after any trade discount offere(l. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short temi highty liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated ieliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Pen$lons Compton Verney operates a defined contribution pension scheme. The assets of the scheme are held separately from Compton Vemey in an independently administered fund. The pension cost charge represents contributions payable under the scheme by Compton Verney to the fund. Compton Verney has no liability under the scheme other than for the payment of those contributions. Since the onset of auto enrolment in April 2015, the charity has been required lo enrol staff who meet sel crtteria based on earnings and age. If new staff meet the criteria they are typically enrolled into the scheme after a 3 months postponement period. Staff who do not meet the criteria a￿ given the option of joining the scheme on a vo5untary basis if they wish. Contributions are in line with the statutory minimums set out under the auto enrolment legislation although there is an option for staff to have their contributions matched at a higher level. Compton Verney House Twst 39

Notes to the accounts Year to 31 December 2021 1 Income from donatlons and legacles 2021 Totsl Unrestricted Reslrlcied Donations {see note 1a) Grants (see note 1 b} 1.434,320 472,277 1,906,597 2,142 426,054 428,196 1,436,462 898.331 2,334,793 2020 Total Unrestiicted Restricted Donations (see note 18) Grants (see note tbj 1,476,077 1,062,873 2,538,950 2,500 1,478,577 703,267 1,766, 140 705, 767 3,244, 717 la Donatlons 2021 Total Unrastricted Restricted Compton Vemey Fund- Endowmenl ftjnding Other donations 1,400,000 34,320 1,434.320 1,400,000 36,462 1,436,462 2.142 2.142 Other donations include unrestricted gift in kind donations 01 £12.280. valued in accordance with tha Charities SORP. 2020 Total Unresbicted Restricted Compton Vemey Fund- Endowment fvrldting Other donab.ons 1.400,000 76,077 1.476,077 1.400,000 2,500 78,577 2,500 1.478,577 1b Grants recelved 2021 Total un￿striCted Restn'cted Arts Council England- Cultural Recovery Fund Arts Counci5 England- National Porttolio Arts Council England- Small Capital Grant Grinling Gibbons Society Coronavirus Job Retention Scheme Lo¢81 Recovery Grant Arts Council England- Kick Stsrt Grant Art Fund We$lon Loan Programme Henry Moore Foundation Other grants (under £1,5CNJI 236,000 152.760 224,(MJO 460,000 152,760 90,333 53,621 46,708 36,750 2S.000 22.500 10.600 59 898,331 90,333 53,621 46,708 36,750 25.000 22.500 io.eoo 59 472,277 426,054 Compton Verney House Trust 40

Notes to the accounts Year to 31 December 2021 1b Grants recelved Icontinuedl 2020 Total UnTr$trirt8d Rèstricted Arts Council England- Cultutsl Rewvery Fund Coronaviws Job Retention Scheme Nat￿nal Lottery Heritage Fund- Culturnl R9¢0￿ry Arts Gouncil Eng18nd- N8tional Portrolio National Lottery Hentage Fund Gomplon Vemey ColleGlion Settlement Local Recovery Grant Rural Payments Agency Univetsity ofwamck Othergrdnts (under£1.500J 600,000 228,018 380,000 980,CQO 228,018 223.500 223,500 152, 760 96, 767 70,OOQ 6, 107 5.988 2,000 I,ooo 1.Y66, 140 152,760 96,767 70,000 6. 107 5,988 2,000 1,062,873 703,267 2 Income from Charitsble activities 2021 Totsl Unrestricted Restricted M•mborshlp Admissions Informal Learning. Digital & Events Benefactors. Patrons, Supporters & Corporates Garden House ￿￿181 Sundry income Total 317.597 301,698 63,502 18,998 10,8(XJ 6.363 720.957 317.597 301,698 63,502 18,998 10,800 8,363 720,957 2020 Total Unr&slricl&d Restricted AdmiSS￿nS meMbe￿￿[p Infom7al Leaming, Digrfal & Events Benefactorn, P8tmns, Supporters & Coo)ornt6s Sundryincome Total 119,588 260,443 67,911 9,919 7,140 465,000 119,588 260,443 67,911 9,919 7, 140 465,OQO 3 Income from other trading activities 2021 Total Unrestricted Restricted Retail Hire Commercial Events In House Catering Commission Hire Catering EdUcat￿nal activÉb8s 201,824 204.489 87,643 S2.446 8.987 7,140 563,616 201,824 204.489 87,643 52,448 8,987 7,140 563.616 Compton Vemey House Trust 41

Notes to the accounts Year to 31 December 2021 3 Income from other trading activities (continued) 2020 Total Unmslricted Restiicled Retail HN HI￿ Catering In Horjse Catering Commission Educational activities Totjring incom& Sundry income 70,729 37,590 20,295 13,118 8.202 8,048 542 158,523 70,729 37,590 20,295 13,118 8,202 8,048 542 158,523 4 Analysis of expenditure PUty￿ Cost of display of Speaal raising pemanent 6xhibilionsi Goveman funds colkctlens projects costs Support ¢osts 2021 Total staff cost$ Consultancy- tempor8ry $taff cover Cost of sa￿$ and exhibrtions Art5 Council Engl8nd- Cuthral Recovery Fund 1 Art5 Council England-culural Recovery Fund 2 Funded pr(ieds Utilit￿5 Depreuation Offr¢e ¢osts and otherpeople Costs Maintenance strategy prdeth6 Marketin9 & PR Governance Includlng taxation, legal and audit fees SeGurity Insurance Cleaning. rate5. St¢r#ge Information technology Cost of 5ak5 Gatering Capital Goods Scherne VAT iebate 428.716 335.458 77.523 123,183 254,885 1,219,76S 24,088 251.474 1.210 12.141 12.519 68,838 106.655 660,976 417,361 310.746 310,746 176,211 486,9$7 176.211 486,9S7 249,989 249.538 149,948 118,778 114,602 102,075 249,989 249.538 99,303 7,871 42.774 118,778 23,992 90,610 102,075 101.524 101,524 9S,936 83,325 55,287 49.274 2,988 130,8751 926.326 3,836,743 95.936 80.839 46.400 2,486 8,887 49,274 2,915 73 130,8751 705,339 983.525 981.841 Z39,712 Support cos15 Governance costs Total expandlture 2021 240,845 $46.532 62,325 141,430 1.008,509 1.671.487 138,949 35,957 1,156,747 1926,3261 (239,7121 3.836.743 Compton Verney House Trust 42

Not¢$ to the accounts Year lo 31 December 2021 4 Analys1$ of expendlture Icontinuedl Public Costol thsp16yoI SpeGial sffig permanent exhibitionW Govemanee Supwt 2020 lunds collections ie¢ts Costs G05t5 Tot81 siaff c05t$ Consult8n¢y- temporary staff cover 278,164 471.844 78.802 131,893 277,409 1.238,If2 20,790 29,978 249.647 50.768 249,647 206.329 205,805 157,995 156,278 116.047 Depreoaiion Ulillbes Fundedproiecls Cosl of sales èndexhibiÈions Marketing andPR SecLirity otfice cos15 end olherpeople G05t5 Gov8m8nce includir)p tray81￿, leg818ndauditfeeÉ Mainlenance 206,329 205.805 89, 120 68,875 151278 116,047 8.678 43,484 74640 46,774 114,516 114,511 114.511 117,713 74.672 58,726 44.365 42,091 32.100 109.917 TO,400 50.231 1,796 1,339 8.495 44.3fj5 21, 137 32, 100 2,933 Cleaning. rates andslorage Infom781ion lechfr701ogy Costof s&les ofcaterirNJ Str81e9yproi8cIs Inwveoble VA Ton oharltab 20,954 163,810) 1,025,232 163,810) 869,378 2,909,865 376,611 389,367 249,337 SupportG05ts Gov8manc8 costs Totalexpenthture 2020 226.023 512.898 64,828 147, 709 667,462 1.685.239 13Q,39T 37,400 P49.33TJ 557. t64 (869,318) 2,909,865 S Net (expenditure) incom8 for the year This is staled after char9ing'. 2021 Total 2020 Total Depreciabon Trustees, indetnnity Snsurance Trustees. reimbursed expense8 Operating leasè rentsls: Other Auditorfs remuneration (excluding VATI Auditorfs related company18xalion services . Other services 249.538 2.486 973 249.647 2,933 737 1,S79 19,949 9,358 1,925 1,579 14.600 32.444 1.150 Compton Verney House Trust 43

Notgs to the accounts Year to 31 December 2021 6 Analysls of staff costs Staff costs were as follows.. 2021 Total 2020 Total Salaries and wages Social security costs Employeff s contribution lo dèfined contribution pension schemes 1,106,188 91,085 3S.248 1,232,521 1,113,272 82,776 38.244 1,234,294 Consullancy- tèmporary staff cover 106,855 1,339,176 50.768 1,285,062 The following number of employees received employee benefits (excluding employer pension and employerfs national insurance coslsl during the year beNveen'. 2021 No. 2020 No. £80.000- £89,999 The total employee benefits including employer's pension conlribution and employer's national insurance of the key management personnel were £319.61012020'. £236,632). The Board of Governors did not receNe any other benefits from employment with the charty in the year12020.' £nill. Board of Governors. expenses represents the payment or reimbursement of travel and subsistence costs lotalling £97312020.. £7371 incurred by 312020-. 2} members relating to attendance at meelings of the trustees. One Governor has been paid remuneration for employment within the charity, in accordance with the Compton VeTney House Trust Deed variation 10th February 2020. which appointed the role of CEO to the Governors. In her role as CEO. Julie Finch received gross pay of £88,434 (2020.. £86,700) and employer pension contributions of £5,306 {2020: £5,202). There were no olher benefits within the remuneration. Staff numbers The average number of employees (head count based on number of staff employed} during the year was as ft)Ilows'. 2021 No. 2020 No. Raising (unds Public di3play of collectlons Support Govemance 34 25 47 23 66 78 Compton Verney House Trust 44

Notes to the accounts Year lo 31 December 2021 Anatysls of staff costs {continued) Total staff costs of £1,339,17612020'. £1.285.062) roso by 4.2% - wrth employee costs of £1,232,521 {2020.' £1.234.294} falling by 0.2% and consultancy (temporary staff cover) £106,65512020.' £50.7681 rising by 110%. The aveiage number of employees for the year of 86 (2020.. 781 consists of 46 Pem￿nent staff12020'. 341 and 20 seasonal stsff12020'. 441. The reorganisation of staff at the end of 2020 with the appointment of more permanent positions atong with all year-round opening has resuited in the average cost of staff increasing by 18% £18,67512020'. £15,829}. 7 Related party transactlons Compton Verney House Trust receives endowment income annually from the Compton Verney Fund. In 2021 Compton Vemey received £1.4 million {2020.' £1.4 million). Philip Bunt is tW5tee of both Compton Verney Fund and Compton Vemey House Trust. A numbeT of Governors have voluntarily contr¢buted lo the Benefactor xheme, total value £1,650 {2020- £2,800} and qualify for the same benefits as all Benefactors. FLtrther details of the related party organisation are included in the Governors, report. Detsils of the related party transactions with Compton Vemey Publications Limited are in note 11. 8 Taxatlon As an unincorporated trust the Charity is exempt from corporation and income tax. The charity's trading subsidiary Compton Verney Publications Limited donates available profits to the parent charity under gift aid. No ¢orporation tax was liable for Compton Verney Publications Limited in 2021 and 2020. 9 Tangible r￿ed as$ots Main Compton New VeTney land buildin9s & & estat& frt OLrt Costs Fixlures. fiwngs & motor vehides Plant and mathinery Totsl Group and Charity Co$t At the start ofthe year Addib'ons At th8 end ofthe ￿ar 9,227.297 16,205,958 119.187 9,227,297 16,325.145 605,754 34,097 639,851 467,833 26,506,842 47,491 200,775 515,324 26.707,617 Depwlgtlon At the start of the yeaf Charge for the year At tha ènd of the year 1,762,354 157,584 1.919,938 486.849 59.419 546,269 417,5C6 32,535 450.041 1666,709 249,638 2.916,248 Net book value At thts end of the year At the stsrt of the year 9,227.297 14.405,207 9,227.297 14,443,604 93.582 118,905 65.283 23.791,369 50,327 23.840,133 All of the above assets are used for charitable purposes. Compton Verney House Trust 45

Notes to the accounts Year to 31 December 2021 10 Investments Th8 Charity held ￿ types of investment during 2021. At the start of the year, it held £2,128,961 in a COIF charty deposit fund. On 23 December 2021 the COIF charity deposit funds were used to purchase 102,991.04 units of the COIF Charity Investment Fund at £2,067.36 per unit. At year end the units had a mid-market valuation of £2,056,64 At the start of 2020 the Charty held 11.651.84 units ofthe COIF Charity Investrment Fund. In May 2020 these units were sold at a price of18,264 83 per unit and the proceeds of£2.128.189 were placed in the COIF Charity Deposit Account. Group 2021 Charity 2021 2020 2020 COIF Investment Fund Fair value al the stsrt of tho year Disposal proceeds Purch8se value Net loss on change in fair value Fair value al the end of the year 2.187,775 P.218,1891 2.187,775 12,218,189) 2,129,214 111,0411 2.118.173 2,129.214 111,0411 2,118.173 {59,5861 159,5861 Historical cost at the end of the year 2,129,214 2,129.214 Group 2021 Charity 2021 2020 2020 COIF Dèposit Account Fair Val￿ at the start of the year Disposal pro¢8eds Purchase value Net gain on change fair valu8 FaIrVal￿ at thè end of the year 2,128,961 {2,129,2141 2,128.961 {2,129.2141 2.218,189 772 2.218.961 2.218.189 772 2.218,961 253 253 HislThi¢81 cost at the end of the year 2,218,961 2.218.961 11 Subsidiary undertaking The charity owns the whole of the issued ordinary share capital of Compton Verney Publications Limited, company incorporated in the United Kingdom and ￿lStered in England arsd Wales l¢ompony number 031013271. The subsidiary is used for non-primary purwse trading activities. All activrties have been consolidated on a line by line basis in the statement of financial activities. On 1*1 January 2021 Mark Adams and Helen Rose were appointed directors of the 5ubsidlary. From January 2021 the board of the subsidiary is.. Helen Rose (chair of subsidiary), Mark Adams (independent Non-Exe¢ulive Director), Julie Finch ICEOI and Penny Egan (Chair of Charity). Three directors, Helen Rose. Julie Finch and Penny Egan are Trustees of the Charity. Two shares are held by individuals in trust for Ihe Charity. Available profits are gift aided to the parent charity under a deed of covenant. A summary of the results of the $ubsJ'diary is shown below.. Compton Vemey House Trust 46

Notes to the accounts Year to 31 De¢ember 2021 11 Subsldiary undertaking (continued} 2021 Total 2020 Total Tumover Co8t of sales Gro$$ profit S63.616 1245,9851 317,632 158,523 169,295) 89.228 Administrative expen8ÈS Management charge from parent undertaking Profil on ordinary activsbes Total eompreh•nsi¥• incom• for the financial year {10,638) 1173,1551 133,839 133.839 {28,718) (59,7341 776 776 Changes in equity Total equity brought forward Total comprehensive in¢x)me for the ygar Gfft aid distribution to parent charity Total oqulty carrled foThvard 159.808 133.839 776 1133,8291 1180,5821 The aggr•gat• ot the assets. liabilities and fund¥ was: Assets Liabilities Funds 123.794 111.246 1123,7921 1111,2441 Amounts owed from the parent to undertaking were £12,324 (2020: £66,140} are shown in note 15. 12 Parent charity The parenl charity's gross income and the results for the year are disclosed as follows". 2021 2020 Gross income Result for the year 3,362,978 1350.9821 3,799,643 962,017 13 Stock Group 2021 Charty 2021 2020 2020 Finished goods 34.515 27.723 14 Debtors Group 2021 Charlty 2021 2020 2020 Trade debtors Other debtors VAT Accrued grant inc¢m& Prepayments and acuued income 56,569 S7,364 82,588 267,721 IS7.663 621,905 9.116 11,290 83.376 533,607 148,429 785,818 8,039 55.107 88.942 267.721 156,024 575,833 4,556 9,880 83,412 533.607 147.457 778,912 Compton Verney House Trust 47

Notes to th• a¢¢ounts Year to 31 December 2021 15 Credltors: amounts falling due within ong year Group 2021 Charity 2021 2020 2020 Trade creditors Taxation and swal s8CUtity Amount due lo group undert?￿n9 Accruals and deferred income 374.213 31.839 167,956 23.735 314,563 31,839 12,324 194,951 553,677 160,122 23,735 66,410 78,998 329,265 252.739 658,791 182,371 374,(￿2 16 D￿¢rred income Defe￿ed income comprises unexpended grants received and deposits for private hires. GTOUP 2021 Charity 2021 2020 2020 Balance at the beginning of the year Amount released lo in¢ome in the year Amount deferred in the year Balance atthe end of the year 96,471 185,854) 66,150 76,769 77,467 {59.29)1 78,294 96,471 15,340 18,9811 20.685 27,044 4.160 {910) 12,090 15,340 17 Pension scheme As at 31 December 2021, contributions amounting to £6,37512020'. £5,416) were outstanding or owed to the defined contribution pension schemes. At the year end the Aegon administered pension schemes had a total of 3S active members12020.' 36 active members). 18 Analy$ls of group net a88ets between funds General unrestn.cted De$ign8led ftjnds funds Restrteted fvnds Total funds Tangible fixed assets Inv8Stm8nts Net current assets Net assets at 31 D•¢•mber 2021 23,791.369 2.118,173 1,045.999 1.337.324 1,045,999 27,246.866 23.791.369 2.118.173 9,954 2.393.277 9.954 28,302.819 Gener81 unrestricted Designated Restricted fvnds thnds fvnds Tot81 fund9 Tangible 17xed awts Investsnenls Nèl oun¥nl assets Nel assets at 31 DeGember2020 23.840. 133 2,128.961 836,622 1.374,915 836.622 27,434,OQ9 23.840. 133 2. 128,961 350, 119 2.561,656 350,119 28,530,750 Compton Vemey House Trust 48

Notes to the accounts Year to 31 December 2021 19 Movement In funds At1 January 2021 At31 Dec8mber 2021 Income Expenditure Gains Trnnsfers R95tr1ct8d funds Arts Goundl Eng￿nd- Guttural Recovery Fund 1 Arts Counal ErrfJLqnd- Recovery Fund 2 Arts Council England- Small Capttal Grant Arts Council England- Kid( Start Grant Natbnal Lottery Heiiteue Fund- Parf RestOrat￿n Exhibition funding EXh1btt￿n lundlng., Gthllng Glbbon$ Society. Weston and Henry Moore Foundation Oernentia Café creative and engagernent Endowrr*nl Totsl restricted fundg 339,921 (340.2701 349 224.000 1224,2101 210 90.333 25.000 (90.3331 125,0001 6,098 2,100 12441 12.1001 6.864 86,721 300 1,842 186,7211 13Th)1 11,8421 2,1eO 2,1 2,000 350.119 428,196 1655,6871 1112.8741 9,964 Unrestricted ffijnds Designated funds.. Buildlng and gallery lund Arts Gouncil NPO Bulldlng and gallery 5U$tainabilty fuThJ Total deslgnatsd fund$ Art5 Counul EThJ&nd- Cuttural Recovery Fund 2 Coronavlrus Job Retenuon S¢hon General funds Total unrnstrf¢ted lund$ 23,840,132 143,242 152,7&J 3.360.635 27.344,009 148,7651 23,791,367 94,864 3,360,635 148.7651 27,246,866 1201,1381 52,760 1201,13BI 236,0 1236.OODI 46,70 146,7081 836,622 2,755.936 p.697.2101 (10.7881 28,1eo.631 3,191,404 13,181,056) 110.7881 161.438 1,045,999 112.674 28.282,866 Total funds at 31 December2021 28.530.750 3,615,600 13,836,743) 110.7881 28.302,819 Compton Vemey House Trust 49

Notes to the accounts Year to 31 December 2021 19 Movement In funds Icontinuedl Ati J8nU8ry 2020 At31 DecemO8r 2020 Inex%ne Expenthiure GaTns Trnnsfws Rest￿ed￿ndS Arts COunc￿Er￿al8n￿- Cutturel Recov8ry Fund N8tion81 Lottery HeFi18ue Fund- Cultural ReGoveryFund Nelion81 Loltery H81i18sv Fund- Pa Restor8t Exhibitson funthNJ Endowmenf 0tsldoor8clfvllles GaM8ry Tot81 wtrithdluftd8 380.13 (4Q,079) 339,921 (224.719) 1,219 136.880) f.oc 2.oc 96,707 2,qC f19,809) (1,000) (33.980) 2, 100 9(Xl 2.500 705,767 (900) (4,349) (290.856) 1.849 132,031) (32,761) 350, 119 Unreststhdfunds 08Wet8d fund&. Building 8nd o811eryfund Arts Coun￿mpO 8uJlthng and ￿lery$￿st￿8￿llityff￿nd Tot81designat&d lunds Arts Court¢MExJgloncl- ¢ullw81 RecoveryFund CoronawrusJob Retention Schsm8 Gengral funds Total unrestrfcledfunds 23.927,496 23.330 2,871,351 26,822,177 (87,364) 23,840,132 143.242 489,284 3,360,635 401,920 27,344.069 152,760 f32,848J 152,760 (32.848) 600,000 (600,OOOJ 228.018 (228.018) 836.623 2, 186, 112 (7,758, 143) (58,811J 1369.159) 836.622 2T.658,800 3,166,890 (2,619,009J {58,811J 32,761 28,780,631 Tot8lfund$ 8t31 DKem)er2020 2T,626,f69 3,872,657 R9G9.865J {58.811J 28,530,7 Purposes of restricted funds Arts Councll England - Cultural Recovery Fund awarded £380,000 of restricted funds for the period from O¢tober 2020 to March 2021 to assist the cultural recovery of the Charity from the impact of the pandemic. In 2020 £40,079 helped finance the Wnter Creative programme. At the start of January 2021 £339,921 of restricted funds remained unspent. The remaining funding was used towards £90,000 for staffing of the gallery and house to meet new sccial distsncing requirements, interpretslion of the collections and culture, a young persons. project and a research project intr) the decentralisalion of collections narratives. £50,000 was used towards digital signage to build younger audiences. a campaign to reach a broad range of audience and social distancing cleaning costs and measures. We worked wrth consultants in the creative industry, spending £85,000 on a new learning model. market testing for non-visiting focus groups, a redesign of the grounds play area with an artist intervention, and a redesign of our indoor family area. We spent £40,000 to purchase equipment for our young people's project and for catering equipment to build resilience in an area fraught with commercial issues. Funding of £35.000 was used lo improve acces5 for a broad range of visitors. Total spend in 2021 was £340,270 with the overspend of £349 transferred from Charity Funds. 1 £600,000 of the unrestricted funds were spent in 2020. Compton Vemey House Trust SO

Notes to tho accounts Year to 31 December 2021 19 Movement In funds {¢onlinuedl Pury>oses of re$trl¢ted funds (continued) Arts Councll England Recovery Fund 2 awarded £224,000 of restricted funds and £236,000 of unrestricted funds to be spent be￿een April 2021 and December 2021 (originally June 2021). To facilitate re-opening of galleries and provision of content for cancelled Exhibitions. £35.600 was spent on interprelalion - relaunching the reopening of collections in Q2 with digital and in￿allery interp￿tatIon providing safe and inclusive novel approaches, and £15,000 was spend on an online. digital interpretation of On Colouf {cancelled in person due to Covid). Funding was used towards £48,000 for staffing of gallery and house to meet scKial distancing needs. £21,000 on cleaning to provide a safer environment, £2,620 on PPE and £24,000 on security to ensure visitor ¢onfidenGe in Teturning to sile under different rier options. Our volunteers afe key lo our offer. and £14,869 was invested in their reintroduction, including training to meet the needs of the 'post Covid. world. Further funding was used to invest in training, systems and purchasing expertise to meet future commercial targets. £31,188 was invested in a new CRM system to grow the commercial side of the business, with a further £21.845 on staff training on new systems and £10,000 on purchasing expertise. There was an overspend of £210 which was funded by Charity General Funds. The £236,000 of unrestricted monies were spent in 2021. The Arts Council Small Capital Grant was awarded in 2018 at a total value of £120.000 to fvnd £145,000 of expenditure on investment in additional lighting. power and Wi-Fi within the grounds to facilitate more ambitious programming in the grounds, especialty at night. £29.667 of the Grant was drawn down and spent in previous years. A final drawdown of £90,333 was received in 2021. In 2021 the Arts Council awarded a Kick Start Grant of £25.000 to fund the balance which was lo have been paid from Charity Reserves. This money wa5 all spent in 2021. A total value of £115,333 of Assets were capitalised in the year. Exhlbilion Fundlng awarded in the year of £86.721 was used to fvnd the Grinling Gibbons exhibition. Prior year funding of £2.100 was used for work on Colour and Mary Newcombe. Restricted donations of£2,142 were used for work in the Dementia café (£300) and on Creative & Engagement proje¢ts1£1,8421. The Park Restoration project - ftsnded by the National Lottery Heritage Fund, concluded in 2020. The fund started the year at £6.098 for futu￿ d￿0mMiSSIon1ng ¢osts. £244 of this fund was used in 2021. Compton Verney House Trust $1

Notes to the accounts Year to 310ecember 2021 19 Movgment in funds {¢ontinuedl PuTroses of designated funds Designated funds represent funds ring-fenced by the GovemoTS for SFecial purposes. The largest fund is the Building and Gallery fvnd £23,791,3671£23,840,132- 20201 and it shows the value of monies already invested in the development of the gallery, grounds and olheT fixed assets. The value of the fvnd decreased in the year by £48,765- being the drfference be￿een capital investments of £200,775 and annual depre¢iab'on £249,538. The second largest fund is the BuiSding & Sustainability fijnd which has been built up over the past few years with the help of the Matched Funding from CVF. The purpose of this fvnd is to support ongoing development, conservation and maintenance of the estate as well as provide funding for strategic artislie and commercial initsatives. There were no major initiatives in 2021 (due to the pandemi¢). The balance on this fvnd is £3,360,635. The dewgnated Arts Coun¢il NPO fvnding was used to fund a number of artistic interventions in the park. The fund started 2021 at £143.242, which was for the delayed Rebecca Louise Law 2021 exhibition £119.912 and Ihe deinstallalion of the Ariel Schlesinger sculpture irt the same year. The fund er¢ded 2021 at £94,864, the majority of which was used for Morag Myerscough installation in the grounds in Q12022. Unrestricted funds The Govemors retain unrestricted reserves to provide for fubjre expenditure, whether of a capital or revenue nature. which cannot be covered by incoming re50ur¢es. The Governors review the Sevel of unrestricted reserves carried forward annually to ensure they provide a sound underpinning, in temis of cash flow. strategic planning and risk management for ongoing investments in the ¢apital infrastructure of the estsle. The Govemors believe that unrestricted general funds should be held to cover between three and six months. running and reorganisation costs, in order lo finance operations should extraordinary events beyond the Trusl's control affect tts revenue stwm$ or operating costs. The intention is to grow the level of this General Fund to match increased running costs. At the year end, current general reserves stood at £1,045,999 an increase of £209,377 in the year. arsd was in line with the policy. The net transfer on the fund was an increase of £161,438. 20 Operallng lease commltments The group's total fvture minimum lease payments under non-can¢ellable operating leases are as follow5 for each of the following periods- 2021 2020 Less than 1 year 1-5years 1,579 2.210 3.789 1.326 2,210 21 Capllal commftments At the balance sheet date, the group had no commitments in ￿spect of capital projects 12020.. £nil). Compton Verney House Trust 52

Notes to the accounts Year to 31 December 2021 22 Post balance sheet event new charity, Compton Verney House Charity ICVHC). company registration number 13754286. was incorporated on 19 November 2021. The assets, liabilities and activities of Compton Verney House Trust were transferred to CVHC on 31 March 2022. The assets and liabilities were represented by the following funds.. 31 March 2022 Tangible fixed assets Cost Depreciation 26.715,991 12,958.5331 23,757,458 Investments Deblors Cash at bank and in hand Creditors.. amounts falling due within onè y8ar 2.005,652 411.26S 1.950,614 193.996) 28,030,993 31 March 2022 Restricted fvnds Geneial funds De$ign8ted funds 15,240 1,100,713 26,915,040 28.030,993 Compton VeTnoy House Trust 53