Compton Verney House
Trust
Annual Report and Financial
Statements
15 months ended 31 March 2023
Charity Registration Number
1032478

Contents
Reports
Reference and adminislratNe information
Chair's introduction
Governor's report
Independent audilorfs report on the
financial statements
15
Financial ststements
statement of financial
activities
19
Balance sheets
20
statement of cash flows
21
Principal accounting policies
22
Notes to the accounts
27
r.nmntnn Vp.mp.v Hni i*•. Tn i*t

Reference and administrative information
Govemor8
Penny Egan, CBE (Chairl (resigned 29 March 20221
Janet Bell Smith (retired 15 February 20221
Philip Bunt Iresigned 29 March 20221
Sarah Carthew Irelired 15 February 20221
Oliver Cox (resigned 29 March 20221
Julie Finch (resigned 29 March 2022)
Samantha Henney (resigned 29 March 2D221
Helen Rose {resigned 29 March 20221
Jon Sheaff (resigned 29 March 2022}
Ross Sleight (resigned 29 March 20221
Paul Smith (resigned 29 March 20221
Lydia Thomas (resigned 29 March 20221
Peter Wilson (resigned 29 March 20221
Compton Verney House Charity lappoinled 29 March
20221
Chief Executive
Julie Finch (resigned 31 October 20221
Geraldine Collinge lappoinled 31 October 20221
Registered address
Compton Verney
Warwick
CV35 9HZ
Charity registration numbgr
1032478
Audttor
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers
Barclays Bank plc
48B & 50 Lord Street
Liverpool
L2 1TD
Sollcltors
Bates Wells & Brailhwaite
Scandinavian House
2-6 Cannon Street
London
EC4M 6YH
Pnmntnn Ilprnpv Hni i*p Triist 1

Chalr's Introducllon
15 months endod 31 March 2023
Chal￿8 Welcomè
Th18 Annud Report and Account¥ is unusual as it only ￿presents 3 months ol a¢Wvity by the
chartty.
Compton Vemey Housg Trust ICVHTI has been ¥lwciufed as an unlncorporaled ¢harftable
trust 55nce its in¢8ptlcr¢.
After a revlèw of the gov8manc8 arrdngemenls ot CVHT, the Board of Govemor resolvgd to
change the structure of the TnJs110 8 charllable company limited by guarantee, which is
rnore appropriale lagal stnjclure for an oper8tlonal charity.
On 31 Mar(* 2022, the buslness, Slaff gnd assets ol CVHT were transfeTred to th8 now
incorpDf3tèd charity.
Th8 ongoing buslness and tharitable acknvlti&s of CVHT thèrefore ￿Inl]nUeS in the new legal
entlty Cornpton Vern?y House Chority Limited ICVHC) ICh8rfty Regl$lratlon Number
1196705. Company Registratlon Number 13754286) from 1*1 April 2022.
The accoun￿n9 rgfgrance date was also changed to 31 M¥rch to align wfth CVHC.
Charfties frequ8ntty incvrporate in thls ¥vay and so thls procedure Is not unvsu8J, and WIU TrJt
a￿et our activib*s.
The main revlew of Iha activilw of the charity and Ille ongolng succ8s$ of Cornpton Vgmey
is now included in the annual Teport and accountsforcornpton VeTney House Charity Llrnfted.
Compton Vemèy House Ch8TSty is now tha sole Gov8mor ofCVHT
CVHT rem8lns as a ch8rlty In Ils own rfghl registered with the Charity Commlsslon. As of 1*1
April 2022, the charlty no longer has arTry aotlvsties.
However. there artr a numb8r of contracts Ihal have not been nov8led to CVHC and VAII be
serviced wlhin CVHT unlll they expirÈ. At thal poinL CVHT will bgcome doTm8nl. During this
P91ir)d all IncoTh and costs wli I be passed onto CVHC 8nd will be re￿gnised in thg accounts
of that èntity.
Ponny Egan
Ch?Ir & r•pr8s•nttha ofthe ￿10 Governor CVHC
Compton Vemey HOu￿Trust 2

Governor's report
15 months ended 31 March 2023
The Governor is pleased to present the annual report of Compton Verney House Trusl
together with the financial statements
The report besow covers the operational period from 1 January 2022 to 31 March 2022 when
the business, staff and assets were transferred to Compton Verney House Charity.
The financial slalemen15 have been prepared in accordance with accounting policies lo 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
Charities.. ISORPI applicable to charities preparing their accounts in accordan￿ with FRS
102. The organisation is an unincorporated charity, conslituled under a trust deed dated 27
August 1993 and registered as a charity on 1 February 1994.
Our Mlssion and Objectlves
Our Mission
To care for, interpret and animate Compton Vemey's site and culture, engaging
audiences with 8rt, heritage and the environment. providing outstanding visitor
experiences. and securing a sustainable and accessible 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. At Compton Verney, all are welcome and
there is space for everyone.
How we achieved our objectives
Compton Verney. having been restored by the Peter Moores Foundation, opened in 2004
with the intention of attracting visitors who would not nom)ally visit galleries or museums.
We actively welcomed 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 Lottery
Heritage Fund. The Assets are open to the public either through ticket purchase,
subsidised or free Ichildren and project parti¢ipantsl entry lo enable the development of
audiences who have not visited before. This work continues in CVHC.
We presented world-class art providing access to six permanent collections of national
and international 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 enSU￿d interventions and engagement across the whole site
drawing together art, nature and creativity. This work continues in CVHC.
P.nmnlnn VPrn￿v HnI1￿ Tri Iqt .7

GovemoT'S report
15 months ended 31 March 2023
How we achievgd our objectives {continued)
We ensured our creative programme engaged with new and existing audiences. Our
annual exhibition programme was dlverse and dynamic, drawing on loans from across
the UK and abroad. CVHT secured Arts Council England {ACEI National Portfolio
Funding INPOI of £152,760 per annum to 2023, we experimented in creating
connections between the landscape, art, collections and the exhibrtion programme to
engage the most diverse aUdIen￿S in pursuing CVHT'S own strategy and that of ACE,
the Lel's Create Strategy. This work continues in CVHC.
We commissioned, loaned and originated art, working with artists across all art fomis.
including digital and performance artists. Th￿S work continues in CVHC.
We maintained and developed our natural environment in a sustainable way through
planting new species, undertaking carefvl land management and recording ecological
developments. We sought proactively to ensure the whole of the estate become activated
socially, environmentally and creatively, underpinned by an Environmental and
Ecological Grounds Master Plan. This work continues in CVHC.
The Board member confirms they have complied with their duty lo 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 actsvities, CVHT and CVPL engaged in generallng income through
a wide range of commercial activities, induding membership. ticket sales, hires, weddings.
events, publulions, retai5 and sales of food and beverage. We also fundraised for activities
and projects, and undertook both of these income generation functions in order to financially
support our charitable objectives and meet our responsibilities as a charity. This work
continues in CVHC.
Our achleverngnts and performance
Strateg1¢
The strategic planning and forward d)allenges have been taken up by the Board of Trustees
and management team of CVHC and are reported in the Annual report and financial
statements of that entity.
Only activity that occurred during January2022- March 2022 is referred to in this report.
Exhibitions
The 2022 exhibition programme18unched with Through the Lens of M8Steryi and Portrait
Artist of the Year." The Exhibition. The former was part of the Coventry City of Culture
programme and brought both regional profile and audiences to Compton Verney. Portrait
Artist of the Year.. The Exhibition achieved some of the highest ever visitor numbers of
around 25,000 with the d￿l¢ated Sky Arts TV show dnving a lot of new visitor5.
n.nmn*nn Ilprnpv HniiAp Tri i<t d

Governor's report
15 months ended 31 March 2023
In spring we installed an intervention on the pillars at the front of the house and The Village
in Old Town Meadow which responded lo the architecture of the lost village of Compton
Murdak by the distinctive and acclaimed artist Morag Myerscough.
Compton Verney's first collections focused Artist in Residence, Gayle Chong Kw8n, h8S
been working with Compton Verney since early 2022 researching and developing new work
in response lo the Chinese and Miniatures cOl￿tiOns. Her residency is part of the 20120
programme launched in November 2021 by University of the Arts London's Decolonising
Arts Institute, working with 8 network of 20 UK public collections, museum and gallery
partners, and with funding from Freelands Foundation. Arts Council England's National
Lottery Project Grants Programme and UAL. The residency supports ethnica51y dwerse
artists to create new work that is then acquired by the host UK organisalionlcolleclion
Public engagement & Learnlng programmes
Schools
We developed models for an ambitious pilot project with a longitudinal multi-year offsite
schools programme working with a secondary school, its feeder primary schools and 61h
form college tracking the impact of access to art, artists, making and creativity activity lo
pupil allainment and its impact on wider school community.
Family activty
Vve worked successfvlly with Woodland Tribe who engaged children and families to build
extraordinary play-grounds onsite.
Go paint, the new colour focused family app, offered a new way for families and schools to
engage with Compton VeTney onsite and oftsite.
We reimagined our Forest School activity by combining the imagination and creativty of the
Art ga15ery and the wildness of the woodland to create Get Mucky, Gel Making sessions.
Every Tuesday we offered Tiny Tuesdays for early years young people. An offer that proved
incredibly popular and filled the galleries with young voices every week.
Adult programme
We ran an expanded programme of courses and workshops for adu￿$ including cyanolype
photography, beginners carving course, pottery classes and object handling, talks and tours
which have successfully engaged adult5.
Publlc programme
Meet the Makers event on 22 and 23 January 2022 was highly successful with over 400
people attending across both days. There were perfomiances from Warwickshire Baroque
in the chapel. behind the scenes tours, live carving demonstrations and lino cutting
workshops.
The Women's Library hosted a guest curation project led by partner organisations such as
Make Space for Girls, Human Library and the Youth Panel. to select books. write texts and
provide audio recordings related to our programme and their wo¥k.
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Governor's report
15 months ended 31 March 2023
Future plans
The strategic planning and future risks and challenges now sil with the Trustees and
management team of CVHC.
Our govemance and admlnlstratlon
Thè Charlty 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.
The Board of Governors was responsible for governance and overall control of the charity
and mel five Iirnes a year. The staff of the Charity, under the direction of the CEO-Direclor.
were responsible for the day-to-day delivery of the charity's objectives and the policy
decisions, as agreed by the Board.
After a review of the governance arrangement5 of CVHT, the Governors decided to change
the structure of the Trust to a charitable company limited by guarantee. which is a more
appropriate legal structure for an operational charity and Teflects best practi￿.
On 31 March 2022. the business, staff and assets of CVHT were transferred lo the new
incorporated charity.
Directors and Govemors
The following Governors were in office during the year and sin¢e the period-end..
Penny Egan, CBE (Chairl (resigned 29 March 20221
Janet Bell Smith (retired 15 February 20221
Philip Bunt Iresigned 29 March 20221
Sarah Carthew (retired 15 February 20221
Oliver Cox {resigned 29 March 20221
Julie Finch (resigned 29 March 20221
Samantha Henney (resigned 29 March 20221
Helen Rose (resigned 29 March 20221
Jon Sheaff Iresigned 29 March 20221
Ross Sleight I￿signed 29 March 20221
Paul Smith Iresigned 29 March 20221
Lydia Thomas (resigned 29 March 20221
Peter Wilson (resigned 29 March 20221
Compton Verney House Charity lappointed 29 March 20221
Compton Verney House Charity is now the sole Governor of the charity and oversight and
direction of the ongoing CVHT charity is exercised through its representative Penny Egan
(Chair of Trustees) and Gerakline Collinge ICEOI.
In the three months of this reporting perlod in which CVHT was operational, the govemance
arrangements were as follows..
.hmntnn IIFthrnpv Hniiqp Triiq* R

Governor's report
15 months ended 31 March 2023
All members of the Board constitute as Governors of the charity fr)r the purpose of charity law.
The Board comprised a maximum of 13 elected GovemoTS, each of whorn was recruited
through an open call, and appointments are finalised through the Nominations Committee and
one appointed Ex-officio Governor.
The Governors were recruited for their expertise in diverse areas, including g0veman￿,
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 were sent a comprehensive pack of relevant
documents to enable them lo understand their legal responsibilities to fulfil their roles as
Governors. Govemors were generally appointed for a term of up to four years, which was sel
lo conclude al the end of the Icalendarl financial year. At the end of their term of office.
Governors either retired or may have been asked by the Nominations Committee to offer
themselves for one four-year term of re-8ppoinlment.
All members ofthe Board received regular information from the CEO-Dire¢tor, Executives and
Corporate Manager on matters related to CVHT. Governor$ gave their lime voluntarily and
receive no benefrts from the charity, but their expenses were covered to ensure that an
individual's ability lo participate is not dependent upon their financial means. The CEO-
Director was remunerated for hef executive capacity and not for her role as a Governor.
From 1 April 2022, there is one Governor in place, Compton Verney HoL¢se Charity.
Executive Team (January- March 2022J
Julie Finch
CEO-Director
Sarah Bunney
Finance and Assets Director
Bernadette O Sullivan
Commercial Director
Thomas Williams
Head of Fundraising
Head of Exhibitions, Creative Programme. and Audien
Abigail Viner
Organisation
The Govemor considered that they, together wlh the executive team, comprised the key
management personnel of the charity, in charge of directing and controlling, running and
operating the charity on a day-lo-day basis. The CEO-Direclor was 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 delegated oversight of certain important
afeas of governance to committees. each of which reports to and is accountable to the
Board. These committees were the Finance arsd Audit Committee and the NominalKins
Committee. Remuneration of the Executive Team was overseen by the Nominations
Committee, with reference to sector benchmarks.
e.nmntnn Vornpv Hni Iqp Tri IRtr 7

Governor's report
15 months ended 31 March 2023
Our governance and administration Icontinuedl
OrganiTsation (Gontinued)
Compton Verney House Trust was an equal opportunities employer, recruitrnent criteria and
proceduffts ensured that individuals were selected, promoted and treated on the basis oftheir
relevant merits and abilities. Wherever possible. employees were provided with further
speciali51 Irainlng to enable them to broaden their knowledge and skills and lo advance their
careers in the charity and arts sector.
We also employed consullanls and specialists able to support certain areas of change ir¢
relation lo audience and business development, finance and VAT. governance and marketing
and Public Relations.
Our charitsble work was reliant on the commitment of our loyal supporters. In particular, to
the teams of volunteers who share a range of diverse skills, we are grateful for all of this
support. In addition, we are very grateful forthe support of our members, Benefactors, Patrons
2nd Supporters.
From 1 January 2022 10 31 March 2022. trading activities were mainly undertaken through
Compton Verney Publications Limited, a trading company registered with Cornpanies House
Iregislered number 31013271. Ownership of CVP was transferred to CVHC from 1 April 2022.
Fundraising
Compton Verney House Trust is registered with the Fundraising Regulator, and has been
compliant with regulations throughout the period. The Charity was reliant on its own team for
all fundraising a¢livib'es and for attracting donations to the charity. Any funded project was
carefully managed to ensure that outcomes are met. The Governor received regular reports
of compliance as part of their meetings. No complaints relating to fundraising have been
re￿Ned during the period. Going fOn￿ard, no further fundraising is anticipated within this
charty.
Ourpolicies
The charity had policies and guidelines in place to cover wide ranging areas of our business
encompassing financial management, asset management, HR, operational management
including Health. Child Protection and Safeguarding Vulnerable Adult Policy, Equal
Opportunities Policy.
All staff were required to understsnd and comply with these policies. which were reviewed
biannually to ensure that they are suitable for the organisation's structure and objecb'ves. We
strive to update our policies through on-going consultations with Governor. staff, volunteers
and the public.
r.ftmnlnn Vprnpv Hni Trii¢t

Govgmor's report
15 months ended 31 March 2023
Our governancg and admlnistration Icontinuedl
The Finance and Audit CommiTttee
Chaired by Philip Bunt, the Finance and Audit Committee reported lo the CVHT Board of
Governor. The CVHT Finance and Assets Director submitted quarterly accounts and strategic
financial reports to each sub-committee meeting,. the meeting minutes were then Circulated to
the CVHT Governor. who were ultlmalely responsible for reviewing financial perforrnan￿.
The Chair and CEO-Direclor of CVHT also attended on a regular basis.
The Finance and Audit Committee provided high-level oversight of the accounting systems,
procedures and policies and financial reporting, including budgets and medium-term plans,
and made recommendations to the CVHT Board on any changes that were required.
Nominations Committee
The Nominations Committee, chaired by Lydia Thomas, was responsible for recruiting new
Govemor within a defined process, ¢onsidering staff remuneration and staff reorganisations.
Related partles
Compton Verney House Trust {CVHTI co-operated with related chaTlties and one related
company in order to achieve its objectives. The charities were the Compton Verney
Collections Setllemenl ICVCSI and the Compton Verney Fund ICVFI. both founded by Sir
Peter Moores.
Compton Vgrney Collection Settlement (CVCS)
CVCS is a charitable trust Inumber 10858101, set up al the same time as CVHT in 1993.
CVCS is chaired by Brian Allen. The trustee5 of CVCS oversee the permanent collection at
Compton Verney, and a loan deed, now with CVHC, outlines the terms UF)on which the
collection is displayed_
New CVCS trustees are appointed on either the recommendation of the executive or of
existing trustees on the basis of their relevant expertise. They tend lo be museum
professionals, able lo advise on colleclion-related issues. The CVHT Chair and CEO-Direclor
plus other senior CVHT staff attend meetings as appropriate.
The Compton Vemgy 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 to ensure its assets cannot be compromised by any
potential difficulty encountered by CVHT. During the year Philip Bunt was a CVF trustee.
f.nmntnn v￿M9v Hniigg Tri IEt Q

Governor's report
15 months ended 31 March 2023
Our governance and administration Icontinuedl
Compton Verney Publications Limited (CVPL)
Chaired by Helen Rose, Compton Verney Publications Limited was wholly owned by CVHT
until 31 March 2022 prior to its ownership transfer lo CVHC, and undertakes the educational,
hire. catering and retail ackn'vity at Compton Vemey. The Chair of CVHT'S Board of Governor
Penny Egan. Helen Rose and Julie Finch CEO-Director. were unpaid directors of CVPL during
2022.
Manag•ment ofrisk
The executive and the Board had a strategy for the management of risks faced by the charity.
Risk processes were kept under constant review and comprise the following key controls..
Weekly exe¢utive meetings with an aim of identifying potential risks at any earfy stage
and escalating them when appropriate
A formal quarterly assessment of all the risks by the Finance and Audit Committee, in
conjunctron with the senior charity staff, which led to the updating. monitoring and
circulation of a Risk Register to MIt￿ate these risks throughout the period
A fomial 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 out at each meetin9 of the Board
Through the implementation of these risk management controls, the Board evaluated the
main financial and non-financial risks to the organisation and is satisfied that the risks
identified are adequately monitored and managed
The key risks for the charity when it was operational, as identified by the Governoi, are
described below, together with the principal ways in which they were miligaled..
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. CVHTS
Ihree-year strategy had been further reviewed as a INing document was reviewed and
conlexlualised alongside changes in the extemal environment.
If CVHT fails to identify capital and revenue growth opportunities. increased income will
not be achieved and the future sustainability of CVHT will be threatened. This w8S
addressed through shorter term capital projects to raise commercial income including the
temporary car park, catering outlet in the grounds and Garden House upgrade, longer
term the Site Master Plan addresses our growth strategy.
If CVHT introduces unplanned additional worl or is not ￿aliStIC about the capacity of
the team this can affect morale and delivery. This was addressed through the Strategic
Plan, clear person objectives. regular monitoring. board and staff meetsngs, data
collection and evaluation.
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Govemor's report
15 months ended 31 March 2023
Management of risk fconlinued)
If CVHT failts to comply with legal requirements (Charrty. Equalities, Data Protection.
Employment. tax, Health and Safety, National Government legisI8tion related to Covid-
19 restrictiorssl there Could be an impact on reputation. Updates from the Charity
Commission were acted upon, Cyber Security policy in place as a living document, all
pollcies under review on an annual basis. updated Disaster Plan and Health and Safety
plans in place.
Statement of responslbllities of the Governor
Law applicable to charities in England and Wales requires the Governor to prepare fi'nancial
statements for each financial year which give a true and fair view of the charity's 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 follow best practice and."
Select suitable accounting policies and then apply them consistently.,
Observe the methods and principles in Accounting and Reporling by Charitie$.'
Statement of Recommended Practice applicable to ¢harilies preparing their accounting
in accordance with the Financial Reporting Standard applicable in the United Kingdom
and Republic of I￿land.,
Make judgements and estimates th* are reasonable and prudent",
State whether applicable UK Ac¢ounling Standards and statements of recommended
practi￿ have been followed, subject to any material departures disclosed and explained
in the financial slalements,. and
Prepare the finan￿81 statements on the going con￿rn basis unless it is inappropriate to
presume that the charity will continue in operation.
The Govemor is responsible for keeping proper accounting records that disclose with
reasonable accuracy at any lime the financial position of the charity and enable them lo
ensure that the financial statements comply with the Charities Act 2011. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
The Governor is respon$ible for the maintenance and integrity of the corporate and financial
information included on the charity's website. Legislation in the United lfjngdom governing the
preparation and dissemination of financial statements may differ from legislation in other
jurisdictions.
Thank you
Our charitable work is reliant on the commitment of our loyal 5UPPOrters. 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 members, Benefactors, Patrons and Supporters have remained
loyal and we are also very grateful for their support, with special acknowledgement and
thanks to Janet Smith for her work as Chair of Benefactors at Compton Vemey.
f.nmntnn Vprnpv Hni Tritot

Governor's report
15 months ended 31 March 2023
Flnan¢ial review
Overview
The resutts reported in these financial statements refer to the activity undertaken during the
3 months January- March 2022.
From 1 April 2022, the trade and activity of CVHT is condueted by Compton Verney House
Charity and the results can be seen in the financial statements of that company.
Charity funds reduced by £28.302,819 to £nil as all reserves accumulated within CVHT as at
31 March 2022 were transferred to CVHC12021 decrease £227,931).
Charty income of £741.622 and costs of £953,841 generated in the trading period resulted in
a deficit before nel losses on investments of £212.219.
Charity investments fell by £112,521 in the period to 31 March 2022. compared to a loss of
£10.788 in 2021.
Total income
Income Came from three main income sources.. 52010 from rjonations and grants1£382.067},
30¥0 from charitable activities1£224,1571 and 16¥0 from trading income1£121,3761.
Donations and grants
Income from donations and grants of £382.067, an annual reduction of 840A from the fully
year 20211£2,334.7931.
Our largest donor was the Compton Verney Fund, which donated £350,000 12021..
£1,400,000).
The income from ACE as part of the band 1 NPO investment was £nil, the payment being
made lo CVHC following the transfer12021.. £152,760).
The Grinling Gibbons Exhibition received £7.286 of funding from The Grinling Gibbons
Society12021.. £53,621}.
Widerwork was SUpp￿ed by olhertrusls and foundats'ons as set out in note 1 b lo the financial
statements.
P.nmntnn V*mpv Hni i*p Tni*t 1?

Governor's report
15 months ended 31 March 2023
Flnanclal review Icontinuedl
Charitable actlvltles
Income from Charitable activities (mainly admissions & membership income) amounted to
£224,15712021". £720,9571. The sucTrss ofthis quarter's income was due lo the Portr8lt Artist
of the Year exhibition whiGh saw a record number of visitors for a Q1 exhibition.
Income from other trading activlties and investments
Income from other trading activities amounted to £121,376 12021.. £583,61618s sel out in
note 3 of the financial statements.
Retail and Catering income benefitted from the successful exhibition programme and larger
audiences.
Our commercial events programme delivered £39,468 in the period to 31 March 2022. AII
activity delivered post April 2022 is recorded in the accounts of CVHC12021: £87,643).
Operational review
Revlew for the period
Compton Verney House Trust delivered an operating deficit of £212,219 prior lo the transfer
to Compton Vemey House Charity12021. deficit £217,143).
Expenditure
The Charity saw the expenditure grow in line with budget.
Staffing costs represented our largest area of expenditure bul our people were also the
charity's most valued asset. Costs of £341,375 were 360/0 {2021.. 35¥0} of expenditure.
The direct costs of public display of the permanent collections were £305,430 {2021."
£983,524) and the direct costs of special exhibitions and projects were £170,097 12021..
£981,841). These changes reflect the mix of fixed and variable costs of activities and the
different length of trading periods.
The dlrect costs of raising fvnds were £ 231,265 (2021". £705,339) Trflecting the increase of
activity, with increased expenditure on staffing £132,579 {2021". £452,804) and cost of sales
and exhibitions £80.41612021: £251,474).
Support and Govemance costs were £247,048 {2021". £1.166.0401. Professional fees on legal
and laxalion in relation to the incorporation of the charity were bome by CVHC.
r.nmnfrsn vp.rnpv HnI1￿ TriiRt 4.2

Go¥grnoPs report
15 rnonths ended 31 March 2￿23
Opgratlorrdl fgvlow {¢wtlnuedl
Prfclng polky
Accessibilty was 8 kèy element ofourpublic ben8fitoff8rir@. We were committad to 8nabllt)g
as many p8ople as possible to vlew8rt and enjoy Ihe grounds reg8rdl8ss ol Ih8lr income and
ablllty to pay. No chan9es were rnade in th8 poriod to April 2022
Inv8s(mentpolky
CVHT Lt)mmlssioned a proparty in 2020 which has Infomied the amr)unt of funds
requlred to main(aln and develop the assgts. Al thè BalancB Sheel datè. rèquirèment to
follow up on this actNIty has translerred lo CVHC.
ReseThespolky
The Balan￿ shèet shows total reserves of £NII Ternainlng at 31 March 2023.
The level of Restricted fijnds and Deslgnated fund8 is £NII followlng the transf8T (rfthe assets
lo CVHC12021-. £9,954 and £27,246.864). Unrestricted general résèrves at the end of March
2023 ware £NII12021= £1.045.999}
The Chwtys Assèts
ulsltlons and di5pDsals of fixed assets during thè Pe￿0d are 8hown in note 9 to the
accounts.
IncoTporatkn
Under the Incorporatlon prcKAss. the aCcoU￿ng policies 8tats Ihat because ofthe transfvrof
thg undgrtaklng ti was appropriate lo prepare thè financlal statements oft 8 b8Sts olher tha
a golng concem, atthough this did not result in any changes to the amounts at which the
assats and liabllltles were reLxJgnlsed In Ihe balance 5hÈ8t 81 the date of tr8nsf8T. Details of
the amounts tranSfe￿¢d Ère set out in note 22. The Govemor notss thè emphasi5 of matter
requlred In these circurllstan￿s in the report ol the auditor, butthe undartBklng is conunuing
t) QP8fd18 Withln the new corporats strudure.
The firstfinanclal ststaments of CVHC be prepared from incorporatlon to 31 March 2023
Ènd the 8ccountng reference date of CVHT has beèn ehanged to ensurg CDn51Stency.
Whlle CVHT no longer oper8téd after 1 April 2022, 8 number of supplier contracts wdl be
sew1￿ wlthln CVHT untll they expire. At Ih81 polnt, CVHT will becomè dormant. During this
Feriod all income and cogls ￿1} be pa88ed onlo CVHC and wlll be Tecognisgd In Ihèaccounts
of that entity.
enny Egan
Chalr & T•prns•ntatlve ofth8 solè Govornor CVHC
Compton Vemey House Trust 14

Independent auditor's report on the financial statements
15 months ended 31 March 2023
Independent audltor's report to the Governor of Compton Vemgy House Trust
Oplnion
We have audited the accounts of Compton Verney House Trust (the 'charily'l for the period
ended 31 March 2023 which comprise the statement of financial activities, the balance sheet,
the ststemenl of cash flows principal accounting policies and the notes lo the accounts. The
financial reporting framework that has been applied in their preparation 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, Iuniled Kingdom
Generally Accepted Accounting Practice).
In our opinion. the accounts:
give a true and fair view of the slate of the charity's affairs as at 31 March 2023 and of its
income and expenditure for Ihe period then ended..
have been properfy piepared in accordance with United Kingdom Generally Accepted
Accounting Practice.. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
Vve conducted our audit in accordance with International Standards on Auditing (UK) IISAS
IUKII and applicabSe law. Our responsibilities under those standards are furthei described in
the auditor's responsibilities for the audit of the accounts section of our report. We are
independent of the charity in accordance with the ethical requirements that are relevant lo our
audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordan￿ with these requirements. We believe that the
audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Emphasis of matter- accounts prepared on a basis other Ihan golng concern
We draw attention to the statement regarding going concern in the princlpal accounting
policies, which indicates that the Governor has prepared the accounts on a basis other than
a going concern basis. This is due to the activities, assets and liabilities of the charity being
transferred to Compton Verney House Charity on 31 March 2022 and plan5 to wind down the
charity in due course. Our opinion 15 not modified in respect of this matter.
Other information
The Governor is responsible for the other information. The other infomation comprises the
information included in the annual report and accounts, other than the accounts and our
audilorfs report thereon. Our opinion on the accounts does not cover the other information
and we do not express any form of assurance conclusion thereon.
r.nmntnn Vg.mg.v Hniiqp. Tn i_*t 14

Independent auditorf$ report on the flnancial statements
15 months ended 31 March 2023
In connection with our audit of the accounts, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the
accounts or our knowledge obtained in the audit OT Otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements,
we are required lo determine whether there is a material misstatement in the accounts or a
material misstatement of the other information. If, based on the work we have performed, we
onclude that there is a material misstatement of this other infomiation, we are required to
report that fact.
We have nothing lo report in this regard.
Matters on which wg arg rgquired to report by exception
We have nothing lo report in respect of the following matters in relation to which the Charities
Act 2011 requires u5 to report to you if, in our opinion..
the 1nfomiation given in the Governor's annual report is inconsislenl in any material
respect with the accounts", or
sufficient accounting records have not been kept., or
the accoun15 are not in agreement with the accounting records and returns.. or
we have not re￿iVed all the information and explanations we require for our audit.
Re$pon$ibilities of the Governor
A$ explained more fully in the Govemorfs responsibilities ststement. the Govemor is
responsible for the preparation of the accounts and for being satisfied that they give a true
and fair view, and for such intemal control as the Governor determines is necessary lo enable
the preparation of accounts that are free from material misstatement, whether due to fraud or
error.
In preparing the accounts, the Governor is responsible for asse55ing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related lo going concern and
using the going concern basis of accounting unless the Governor either intends to liquidate
the charity or to cease operations, or have no realistic alternative but lo do so.
Auditor's rgsponsibilltles for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whose
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, bul is not
a guatantee that an audit conducted in accordancewith ISAS IUKI will always detecta material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonabty be expected to influence
the economic decisions of users taken on the basis of these accounts.
e.nmntnn Vg.rnp.v Hni Iq@ Trii8t I

Independent auditor's report on the financial Statements
15 months ended 31 March 2023
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above. lo delect material
misstatements in respect of irregularities. including fraud. The extent lo which our procedures
are capable of detecting irregularities, including fraud is delailed below..
Our approach to identifying and assessing the risks of rrtaterial mksslatemenl in respect of
irregularities. including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the
appropriate competence. capabilities and skills lo idents'fy or recognise non-compliance
with applicable laws and regulations.. and
we obtained an understanding of the legal and regulatory frameworks that are applicable
to the charity and determined that the most significant frameworks which are directly
relevant lo specific assertions in the accounts are those that relate to the reporting
framework Islatemenl of Recommended Practice.. Accountin9 and Reporting by
Charities preparing their accounts in accordance with the Financia1 Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 102) and the Charities
Act 20111 and those that relate to data protection (General Data Protection Regulalionl.
We assessed the susceptibility of the charity's accounts to material misslalemenl, 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 inlemal controls in place to miligale risks of fraud and non-compliance
with laws and regulab'ons.
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relab'onships.,
tested journal entries to identify unusual transactions.. and
assessed whether judgements and assumptions made in detemiining the accounb'n9
estimates were indicative of potential bias.
In response to the risk of irregularrties and non<ompliance with laws and regulab"ons, we
designed procedures which included, but were not limited to..
reading the minutes of meetings of those 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 il is that we would
become aware of non-¢ompliance. Auditing standards also limitthe audit prO￿dureS required
.nmntnn Vp_rnp.v HniJxF* TTI IRt 17

Independent audltor's report on the finan¢ial ststements
15 months ended 31 March 2023
to identify non-compliance with laws an(S regulations to enquiry of the trustees and other
management and the inspection of regLJlatory and legal correspondence, if any.
Material misslatemenls that arise due lo fraud can be harder to detect than those Ih8t arise
from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the accounts ￿S located on the
Financial Reporting Council's website at www.fr¢.org.ukJaudilorsresponsibilities. This
description forms part of our auditoff s report.
Use of our report
This report is made solely to the charity's Governor, in accordance with section 144 of the
Charities Ael 2011 and with regulations made under section 154 of that Act. Our audit work
has been undertaken so that we might stale to the charity's Governor those matter5 we are
required to stale to them in an auditorfs report and for no other purpose. To the fullest exlenl
permitted bylaw, we do not accept or assume responsibility to anyone other than the charity
and the charity's Governor, for our audit work, for this report, or for the opinions we have
formed.
Buzzacott LLP
Statutory Auditor
130 Wood Street
London
EC2V 6DL
Date.. 15 August 2023
Buzzacott LLP Is eligible to act a$ an auditor in terms of section 1212 of the
Companies Act 2006
.nmntnn Vp.rng.v Hnii%p. Tri 1st IR

statement of financial activitigs
15 months ended 31 March 2023
Perlod end
31 March
2023 Unrestricted Restricted
Total
fvnds
funds
Unr•stricted Restricted
nds
funds
2021
Total
Notss
In¢¢me from:
Donations and legac￿8
Charitab18 activitb?5'.
Public di5pLgys of art ¢olle¢tk)ns
Other trading actwilie5
Investments
Total incom•
374,781
7.286
382,067
1.￿6,$?7
428,196 2,334.793
224,157
121,376
14,022
734,336
224,157
121,376
14.022
741.622
720,957
3.616
234
3,191,404
720.957
563.616
234
7,286
428.196 3.819.600
ExpendItU￿ on..
Raislng funds..
Fundraising costs
Trading activities
Charitable ad1vit￿$..
Publi¢ displays of pemanent cellections
. Spedal exhibitionlproject costs
76,830
218.688
76.B30
218.668
266.349
742,160
286,349
742,160
451,189
205,154
9S1,841
461,189
207.154
953.841
1.671.487
501.060
3.181.056
1.671.487
655.687 1.156.747
655.687 3.836.743
2.000
2.000
Tran5ferto compton Verney House
Charity (Company Registratbjn Number
137542861
22
27.962.837
1&240 27.978.077
Total expendlture
28.914,678
17,240 28.931.918
3,181,088
655.687 3,836,743
Net lexpenditurel in¢om* l>pfore net
losses on investments
128,180,342)
19.9S41 128,190,296)
10.348 1227,4911 1217.1431
Net ksses on investments
1112.5211
1112.5211
110,7881
110,7881
Net18xpenditurel in¢ome
S 128,2918631
19,9641 128,302.8171
14401 1227,4911 1227,9311
Translers btheen fu￿5
19
112,674 1112.6741
Net movement in lunds
128.292,8631
19,9541 128,302.817
112,234 1340,1651 1227,9311
ReconGiliatiort tyf funds
Total funds broughl fonNard
Total fund5 carried forward
28.292.863
9,954 28.302.817 28,180.629
28.292.863
350,11g 28,530,748
9,954 28,302,817
19
On 31 March 2022 the assets. liabilities and activities of Compton 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 funds are disclosed in note 19 to the financial ststements.
.nmntnn IIMmpii Hniiqp Tri i<t 1A

Balancg Sheets
As at 31 Morch 2023
Charmy
31
08cemt
2021
31
2023
DecBmbar
2021
Flxed a55¢ts
Tangib￿ a858ts
Inv8Stmersts
4791.369
2,118,179
?5,9￿,542
23.791,3Q9
2.118.173
25.909.542
10
Stock
Debtors
8*] at bank 8rd In hand
13
14
34,515
621,9
2.395.64
3.052,066
s75.￿?
2.37t,119
2,946,952
1,Q06.$59
I.Q06.561
Lkbllltl88
Credltor5.' 8m(¥JTts laTrlng due
wthln orts year
15
11.1I18,5611
I￿,67￿
1658.791
Il•t cuvr8ntQsaots
2.393275
2,393,277
rotainet a880ts
28.302.B17
28,302,819
Fund5
19
9,gS4
Un￿$￿eterS IrLom8 fiJn¢Js
Oeslonated fvnd5
G8nÈral fiJnd5
Total unrèstrlct&l lund$
18
18
18
27246,864
1.045.995
1,045,999
28.291865
rotsl r•sen
18
28.202.817
28202,819
/7125
Approved by the Board on 2 7
and sTrJned on th9Sr behalf by..
ny Egan
Chalr & r8pr•sèntatlve otthe sole GovgTnor CVHC
Conwn Vemey House 20

Statement of cash flows
15 months ended 31 March 2023
2023
2021
Notes
Cash fiows from op&rating activitles
Nel cash provided by operating activities
572,545
474,013
Cash flows from investing activiti•s
Dividends. interest and rents from investments
Purchase of fixed assets
Purchase of COIF deposit
Sales of COIF inve51merit fr)r ¢a$h
Net eash used in Investing activities
14,022
233
125,0421 1200,7751
12.128.961)
2.128,981
1200.5421
111,0201
Changè in eash and eash Èqulvalents in the period
Cash transferred to Compton Vemey House Charity
Cash and cash equivalents at the beginning of the perii)d
Cash and eash equivalents at the end ofthe pèriod
561,525
11,950,614)
2,395,648
B 1,006,559
273,471
2.122,177
2,395.648
Notes to the statement of cash flows for the perlod
A Reconciliation of net incomg to net cash flow from operating activitles
2023
2021
Net lexpenditurel income for tht perlod las per the ststem¢nt of
rinan¢ial activities)
Adjustments for:
Transfer to Compton Verney House Charty
Depreciation charged
Losses on investments
Dividends, interest and rent from investments
Decrease lincreasel in stocks
Decrease in debtors
Increase in creditors
Net cash provided by op8rating aetivlties
128,302,817} (227,9311
27,978,077
SB,952
112,521
114,0221
34,515
263,552
441,767
572,545
248,538
10,788
1233}
16.792}
163.913
284,729
474.013
B Analysis ofeash and cash equivalents
A11
January
At31
2022 Cash flows Mar¢h 2023
Cash 81 bank and In hand
Totsl cash and cash equivalents
2,395.648 11.389,0891
2,395,848 11.389.089)
1,006,559
1,006.559
No separate reconciliation of net debt has been prepared as there is no drffe￿n¢e be￿een
the nel cash Idebtl of the charity and the above cash and cash equivalents.
r.nmntnn Vprnp.v Hnijqp. Txi 18t 21

PTincipal accounting policies
15 months ended 31 March 2023
Statutory inforrnalion
Compton Verney House Trust is a charitable trust. The registered office address and
principal plaoe of business is Compton Verney, Watwickshire. CV35 9HZ.
Basls of preparation
The a￿oUnt$ (financial stalemenlsl have been prepared in accordan￿ with the Statement
of Recommended Practice.. AG¢ounling and Reporting by Charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021- (Charibes SORP FRS 1021 and the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act
2011.
A$sels and liabilities were initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy or nole.
These financial statements consolidated the results of the charity and its wholly-owned
subsidiary Compton Verney Publications Limited on a line-by-line basis for the year ended
31 December 2021. Transactions and balances between the charity and its subsidiary have
been eliminated from the consolidated financial statements. Balances between the two
companies were disclosed in the notes of the charity's balance sheet. A separate statement
of financial activities, or income and expenditure account. for the charity itself is not
presented as the summary of the result for the period is disclosed in the notes to the
accounts. For the period ended 31 March 2023. consolidaled financial statements were not
prepared, as the charity did not have a subsidiary at 31 March 2023.
Public benefrt entlty
The charity meets the definition of a public benefit entity under FRS 102.
Criti¢al accounting estlmates and areas of judgement
Preparation of the accounts requires the Governor and management to make signifKant
judgements and estimates.
The items in the accounts where these judgements and estimates have been made include..
the usefvl econom￿ lives attributed to tsngible fixed assets used lo determine the
annual depreciation charge.,
• the allocatr'on of support costs between charitable expenditu￿ categories.,
Going con¢em
The Governor has assessed whether the use of the going concem assumption is
appropriate in preparing these financial statements. The Governor has made thls
assessment in respect to a period of one year from the date of approval of these financial
statements
.nmntnn IIArnAv Hniiqp. Tri i¢* 22

Principal accounting policies
15 months ended 31 March 2023
Going concern Iconlinuedl
As described in the Governorfs report, the charity's assets. liabilities and activities were
transferred to Compton Verney House Charity on 31 March 2022. The Governor has
prepared the financial statements on a basis other than a going concern basis.
The Governor does not consider that there are any sources of estimation uncertainty at the
reporting date that have significant risk of causing material adjustment lo the carrying
amounts of assets and liabilities within the next reporting period.
Income
Income is reco9nised when the charity has entitlement to the fvnds, any performance
conditions attached to the income have been mel, it is probable that the income will be
received and that the amount Can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is
recognised when the charity has enlillemenl to the funds. any performance conditions
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 defeffed.
Income re￿iVed in advance of the provision of a specified service is deferred until the
criteria for income and recognition were met.
Interest receivable
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 bank.
Fund accountlng
Restricted funds were to be used for specific purposes as laid down by the donor.
Expenditure which meets these criteria is charged lo the fund.
Unreslricled funds were donations and other income received or generated forthe charitable
purposes.
Designated funds were unrestricted funds earmarked by the Governor ft)r parhcular
purposes.
Expenditure and irrecoverable VAT
Expenditure is reeognised once there is a legal or constructive obligation to make a payment
lo a third party, il is probably that settlement will be required and the amount of the obligation
can be measured reliably. Expenditure is dassified under the following aclivty headings..
Cost of raising funds relate to the costs incurred by the charity in inducing third parties
to make voluntary contributions to it, as well as the cost of any activities with 8
fundraising purpose.
f.nmntnn Vg.rnp.v Hniiqp. TriJ8t 23

Principal accounting policiès
15 months ended 31 March 2023
Expendrture on ¢h8rit8ble actiVit￿S includes the cosls of exhib¢tions undertaken to
further the purposes of the charity and their associated support and governance.
other expenditure represents those items not falling into any other heading.
Allocatlon of support and governan¢e costs
Resources expended were allocated to the particular activity where the cost relates directly
lo that activity. However. the cost of overall direction and administration of each activity.
comprising the salary and overhead costs of the central function, is apportioned on the
following basis which were an estimate, based on staff time, of the amount attributable lo
each activity.
Cost of raising funds
260
Public display of permanent collections
59¥0
Special exhibilionslprojects
15¥0
Governance costs were the costs associated with the govemance arrangements of the
charity. These costs were associated with constitutional and statutory requirements and
include any costs associated with the strategic management of the charity's acti'vities.
Operating leases
Rental charges were charged on a straighl-line basis over the term of the lease.
Tangible fixed assets
Items of equipment were capitalised where the purchase pri￿ exceeds £500. Depreciation
costs were allocated to activities on the basis of the use ol the related assets in those
activities. Assets were reviewed for impairment if circumstances indicate their carrying 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 lo its
eslimaled residual value over its expected useful life. The depreciation rates in use were a$
follows..
Freehold property
see below
Plant and machinery
4 years
Fixtures and fittings
4 years
Motor vehicles
5 years
P.nmhtnn Vp.rn•i Hniiqp. Tri IRI 24

Principal accounting policies
15 months ended 31 March 2023
Tangible fixed assets (Continued)
The Governor considers the residual value of the freehold propety to be at least equal lo
its cost, and therefore there is no depreciation charge on the propety. The Govemor carries
out a review of the propety at least annually to ensure there is no indication ofan impairment
to the propety. The balance sheet included £21.324,213 for the value of the House and
Garden House which was transferred lo CVHC on 31 March 2022.
However, the cost of the freehold property included fit out costs such as gallery lighting. In
2016 new buildings weff constructed on the estate and in 2017 an additional property.
Garden House, was purchased by the estate. The Car Park was treated as frt out cost. The
assets were written down to eslimaled residual value over their expected useful life and
depreciated as follows..
New buildings
25 years
Fit out costs
10 years
Garden House
no impairment
Investments
Investments were a fomi of basic financial instrument and were initially recognised at their
tfftnsaclion value and subsequently measured at their fair value as al the balance sheet
date using the ¢losing quoted market price. Any change in fair value will be recognised in
the statement of financial activities and any excess of fair value over the histori¢ cost of the
investments will be shown as a fair value reserve in the balance sheet.
Investment gains and k)sses, whether realised or unrealised, were combined and shown in
the heading 'Net gains Ilossesl on investrnenls" in the statement of financia1 ackn'vilies. The
charity does not acquire put options, derivatives or other complex financial instruments.
Inv95tment in subsidiaries
Investments in subsidiaries were at cost.
stocks
Stocks were stated at the lower of cost and nel realisable value. In general, cost is
determined on a first in first out basis and includes transport and handling co$ls. Net
realisable value is the price at which stocks can be sold in the normal course of business
after allowing for the costs of Ealisation. Provision is made where necessary for obsolete,
slow moving and defective stocks.
f.nmntnn Vp.mp.v Hni I￿. Trii%t 24

Prlnclpal accounting policies
15 months ended 31 March 2023
Debtors
Trade and other debtors were recognised at the settlement amount due after any trade
discount offered. p￿paYments were valued at the amount prepaid net of any trade discounts
due.
Cash at bank and in hand
Cash al bank and cash in hand includes cash and short lerm highly liquid investments with
a short maturity of three months or less from the dale of acquisition or opening of the deposit
or similar account.
Creditors and provisions
Creditors and provisions were recognised where the charity has a present obligation
resulting from a pa51 event that will probably result in the transfer of funds to a third party
and the amount due to setue the obligation can be measured or estimated reliably. Creditors
and provisions were normally recognised at their settlement amount after allowing for any
trade discounts due.
Penslons
Compton Verney operates a defined contribution pension scheme. The assets of the
scheme were held separately from Compton Verney in an independently administered fund.
The pension cost charge represents contributions payable under the scheme by Compton
Vemey lo 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 to enrol staff
who meet sel criteria based on earnings and age. If new staff meet the criteria, they were
typically enrolled into the scheme after a 3 months postponement period. Staff who do not
meet the criteria were given the option of joining the scheme on a voluntary basis if they
wish. Conlribulions were in line with the statutory minimums set out under the auto
enrolment legislation although the￿ is an option for staff to have their contributions matched
at a higher level.
On 31 March 2022. the Aegon administered pension schemes was transferred lo Compton
Vemey House Charity.
.nmntnn Vp.rnp.v Hnijqp. Triiqt 2fi

Notes to the accounts
15 months ended 31 March 2023
Income from donations and lega¢ieg
Period
ended
31 March
2023
Total
Unrestricted
Restricted
Donations l$ee note 1a}
Grants Isee note 1 bl
361,495
13,286
374.781
7,286
368,781
13,286
382,067
7,286
Yearended
31
December
2021
Total
UnrestlFCted Restricted
Donalions (see note 18?
Grants (se& note 1b)
1,434,320
472,277
1,906,59T
2, 742
426,054
428, 196
1,436,462
898.331
2,334, 793
la Donations
Period
Ènded
31 March
2023
Totsl
Unreslri¢ted
Restricted
Compton Vemey Fund- Endowment fjjnding
Other donations
350,000
11,495
361.495
350,000
18,781
368,781
7.286
7,288
Other donations indude unrestricted wft In kind donations of £Nil 12021..£12.2801, valued in
accordance with the Challlies SORP.
Yearended
31
December
2021
Total
UnrestiiGted Restricted
Compton Vemey Fund- Endowment funding
other donations
1,400,000
34.320
1,434,S20
1,400,000
36,462
1.436,462
2, 142
2,142
.rtmntnn Vp.TnAv Hnijqp. Tn i¢t 27

Note8 to the accounts
15 Months ended 31 March 2023
1 b Grants recelved
Period
ended
31 March
2023
Total
Unrestricted
Restricted
Grinling Gibbons Society
Local Authority Grant
Other Grants (under £1,5tK)I
7,286
6.000
7,286
6.000
13.286
13,286
Yearended
31
DecemlRr
2021
Total
Unrestricted
Restiicted
Arts Council England- CulluTrl ReGovery Fund
Arts Council England- National Portfolio
Arts Council England- Small Captèl Grant
Grinling Gibbons Society
Coronakynis Job Retention Scheme
Local Recovery Grant
Arts Councffl England- Kick Start Gtsnt
Art Fund Weston Loan PrOg￿rnme
Henry Moore Foundation
Othergrants (under£l,500)
236.000
152.760
224.OOQ
460,000
152, 760
90,333
53,621
46. 708
36.750
25.000
22,500
10.600
59
898,331
90,333
53,621
46. 708
36,750
25,OQO
22,5QO
10,6QO
59
472,277
426,054
2 Income from charitablg activities
Period
ended
31 Pltarch
2023
Total
Unreslricled
Restricted
Membership
Admissions
Informal Learning, Digital & Evenl$
Benefactors. Patrons, Supporters & Corpor8tes
Garden House rental
Sundry income
Total
76,164
116,408
8,058
16,462
1,065
6,000
224,157
76,164
116,408
8,058
18,998
1,065
6,000
224,157
.nmn*r)n Vp.rnp.v Hnrisp. TriJ*f ?A

Notes to the a¢counts
15 months ended 31 March 2023
2 In¢ome from ¢harltable a¢tlvities Iconlinued)
Yearended
31
December
2021
Tot81
Unrestricled
Reslrioted
MembeFship
Admissions
Infofflial Leaming, Digital & Events
Benefacto￿. Patmns, supporte￿ & Coniorntes
Ganlen Hotrse ￿ntaI
Sundry Income
rotèl
317,597
301,698
63,5Q2
18,998
10,800
8,362
720.957
377,597
301.698
63,502
18,998
10,800
8,362
720,957
3 Income frorn other tradlng actlvltles
Period
ended
31 March
2023
Totsl
Unrestricted
Restricted
Retail
Hire
Commercial Events
In house Catering commlsslon
Hire Catering
Educational activities
Sundry income
Total
fj3,488
13501
39,468
3.446
3,718
63.488
13501
39.468
3,446
3,718
11,6C
121,376
11,6
121.378
Year ended
31
December
2021
Total
Unrosbicted Restricted
Retail
Hire
Commer¢i81 Events
In House Catering Commission
Hire Catering
Educational acttvities
Sundry income
201,824
204,489
87.S43
52,446
8,987
8,227
201.824
204,489
87,643
52.446
8,987
8.227
563,616
563,616
f.nmntnn Vftrnp.v Hnijqp. TM 1st 29

Notes to the accounts
15 months ended 31 March 2023
4 Analysls of expendlture
Perlod
ended
31 March
2023
Total
Public
Cost of drsplay of
Special
raisin9 permanent 8xhibilionsi Governance
funds Colkcl￿nS
projects
osts
Support
costs
Staff costs
Consullancy-tsniDorary staff
COV8r
Co$¢ of sales and exhibitlons
Arts Council England Cuttufal
Recovery Fund 1
Arts Council England_ Cuttural
Rewvery Fund 2
Fun(Jed projocts
132,579
97,363
16,230
32,901
62.302
341,375
80.416
12,483
153,867
246,766
76,301
2,843
58,952
747
79.144
58,962
4.779
Depreaalion
Office Costs and other Feop
costs
Maint&nan¢e
Strategy prqects
Marteting & PR
Governance incluthng tax8tbJn.
leg81 and audit fees
Security
Insurance
Cleaning, fates, $t¢rage
InfotrDation techn￿OgY
Cost of sales of c2tering
Capital Goods Scheme VAT
rebate
4,032
43,198
43,198
49,913
16.978
23,987
18,270
15.550
16.093
16.978
23.987
28.937
13.829
29,287
28,937
13,829
29,287
16.696
16.696
231,265
305.430
170.097
72,438
174,611
953,841
Support ¢osts
Governance costs
Totsl expenditur8 2023
45,399
18.834
295,498
103.020
42.739
451.189
26.192
10,865
207,154
r12,4381
953,841
e.nmntnn IIF*rnp.v Hnijqp. Trii¢t in

Notes to the accounts
15 months ended 31 March 2023
4 Analysis of expenditure (continued)
Y88r
gndsd 31
December
2027
Total
Public
Cosl of di5p18yor
Speciel
r8ising penFJ8n8nt exhibifvonsj GovemaF
funds collecfvons
project5
¢osts
Support
costs
StaVc0515
Consult8ncy- temmr8rystsff
cover
428,716
335,458
77,523
123,183 254.885 1.219,765
24,088
251,474
1,210
12, 141
12,519
68,838
106,655
680,976
Cost off sales and eXhibit￿S
Arts CounulEftwl8nd- CulÈupxl
Recovery Fund I
Arts coUn￿lEngI8nd- Cultur81
Re¢overyFund 2
Ulilitias
Depr8usl￿n
¢osl$ olherpeople
477,361
310,746
310,746
IT6,211
176,211
249.989
249,538
249,989
249,538
costs
Maintenanc&
Str8tegypiDiects
Martrefvng & PR
Govem8nce indudingtsKetion.
legal 8nd 8udiÈ fees
Se¢urily
Insurance
Cleaning, r81es, stor898
Infonnation t8chnology
Cost of sales GateiFng
Cawtal Goods Sch8m8 VAT
rebate
7,871
42,774
118,778
99,303
149.948
118,778
114,602
102.075
23,992
90,610
102,075
101,524
101,524
95.936
83,325
55.287
49,274
2,988
95,936
80,839
46,400
2,486
8.887
49,274
2,915
73
130,875)
705.339
130,8751
239. 712 926.326 3.836.743
983,525
981,841
Supportcosts
Gov8mance ¢i)sts
Total expendilure 2021
240,845
546,532
138,949
62,325
141,430
35,957
1,006.509 1,671,48T 1,756,747
26.326)
(239,7721
3,836,743
5 Net {expenditurel income for the period
This is slated after charging..
Period Year ended
ended
31
31 March De￿mber
2023
2021
Total
Total
Depreciation
Govemorf indemnity insurance
Govemorf reimbursed expenses
Operating lease ientsls..
Other
Auditorfs remuneration (excluding VATI
Auditorfs related company laxalion servlces
Other services
58,952
249,538
2.486
973
550
395
7,006
1.579
19,949
9,358
1.925
.nmnlnn Ilp.rnAV HniJ%p. TTI l%t Iq

Notes to the accounts
15 months ended 31 March 2023
6 Analysis of staff costs
Staff costs were as follows..
Period Year ended
endad
31
31 March December
2023
2021
Total
Total
Salaiies and wages
Social security costs
Employerfs contribution lo defined ¢onlribution pension schemes
299,414 1,106,188
26,337
91,085
15,624
35.248
341.375 1,232,521
Consuttancy- temporary stsff cover
49,913
106.655
391,288 1,339,176
The following number of employees received employee benefits (excluding employer
pension and employer's national insurance coslsl during the year be￿een..
Period Yèar ended
endèd
31
31 Mareh De￿mber
2023
2021
Totsl
Total
No.
£80,000- £89,999
The total employee benefits including employer's pension contribution and employerfs
national Insuran￿ of the key management personnel were £77,44812021.' £319,610).
The Board of Governors of the charity did not receive any income or other benefits in their
individual ¢apa¢ity as Governors of the charity in the period12021.. £nil).
Board of Govemors, expenses represents the payment or reimbursement of travel and
subsistence costs tolalling £55012021.. £9731 incurred by 312021.. 3) members relating to
attendance al meetings of the Governors.
One Governor has been paid remuneration for employment within the charity. in accordance
with the Compton Verney House Trust Deed variation 10 February 2020, which appointed
the role of CEO to the Govemor. In her role as CEO, Julie Finch received gross pay of
£22.993 12021.. £88.434} and employer pension contributions of £1.380 12021.. £5,306)-
There were no other benefits within the remuneration.
.nmnlnn Vp.rng.v HniJRg_ TniRt 22

Notes to the accounts
15 months ended 31 March 2023
6 Analysis of staff costs {conlinued}
Staff numbers
The average number of employees (head count based on number of staff employed) during
the period was as follows..
Year ended
Period
31
ended December
31 March
2021
2023
Total
No.
No.
Raising funds
Public display of collections
Support
Governance
33
21
34
25
62
The aveoge number of employees for the 3 months of activity of 6212021. 661 consists of
40 permanent staff12021'. 461 and 22 seasonal staff12021.. 201.
7 Related party transactions
Compton Verney House Trust received endowment income annually from the Compton
Vemey Fund. From April 2022, this income is received by Compton Verney House Charity.
In 2023 Compton Verney House Trust received £350,00012021.' £1.4 million).
Philip Bunt is trustee of Cornplon Vemey Fund.
On resignation as Govemor of Compton Verney House Trust, the followng were
appointed as trustees of Compton Verney House Charity.. Penny Egan. Philip Bunt, Oliver
Cox, Julie Finch, Samantha Henney, Helen Rose, Jon Sheaff, Ross Sleight, Paul Smith,
Lydia Thomas and Peter Vvilson.
A number of Governor had voluntsrily contributed to the Benefactor scheme. total value
£777 {2021.. £1,650) and qualify for the same benefits as all Benefactors.
Further details of the related paty organisation were included in the Govemols report.
Details of the related party transactions with Compton Vemey Publications Limited are in
note 11.
8 Taxation
As an unincorporated Irusl the Charity is exempt from corporation and income lax.
The charity's former trading subsidiary Compton Verney Publications Limited donated
available profits to the parent charity under gift aid. No corporation tax was liable for
Compton Verney Publications Limited in 2023 and 2021.
.nmntnn Vp.rnp.v Hniiqp. Tri1￿ 11

Notes to the accounts
15 months ended 31 March 2023
9 Tangiblè fixed assets
Main
Cornpton
Verney land New buildings
& estate & frt out costs
Fixtures,
fittings &
motor
vehicles
Plant and
machin8ry
Total
Group and charity
Cost
At the stsrt of the period
Additions
DIsPOS815
Transfer to Compton Vemey
House Charity
At the end of the perh)d
9.227,297
2,850
16,325,145
14.799
639,851
1,342
118,6671
515,324 26,707,617
6.050
25,041
116,6671
19,230.1471 116,339,9441
1624,5261
1521.3741 126.715.9911
DeprecSatlon
At the start olthe ￿ll0d
Charge for the period
Disposa
Tran5ferto Compton Verney
House Charrty
At the end ol Ihe period
1,919,938
39,076
$46,269
11.474
116,6671
1541,0761
450.041
8,402
2.916,248
58,952
116,6671
1458,4431 12,958.5331
11,959,014)
Net book value
At the end olthe period
At the start of th8 P8riod
All of the above assets were used for charitable purposes.
9,227.297
14.405.207
93.582
65,283 23,791,369
10 Investments
At the start of the period. the charity held 102.991.04 units of the COIF Charity Investment
Fund at a mid-markel valuab'on of £2,056,64
On transfer of these investments to CVHC on 31 March 2022 the 102,991.04 units of the
COIF Charity Investment Fund were held at a mid-market valuation of £1,947.35
Charity
Perlod ended
Year ended
31 March 31 De￿rnber
2023
2021
Total
Total
Group
Year ended
31 December
2021
Total
COIF Investment Fund
Fair valua al the start of the period
Disp0581 proceeds
PiJr¢h8se value
Net loss on change in fair value
Fair value
Transfer to Compton Vemey House Charity
2.118,173
2.129,214
111,0411
2,118,173
2,129.214
111,0411
2,118,173
1112,S211
2,005,652
12,005,652)
Fair value at end of the ￿rIOd
Historical wst at the end of the period
2,118,173
2,129,214
2.118,173
2.129,214
.nmntnn Vg.rnp.v HniJqp_ Trti*t Id

Notes lo the accounts
15 months ended 31 March 2023
10 Investments {continued)
Charity
Period ended
Year ended
31 March 31 December
2023
2021
Total
Tol81
Group
Year ended
31 December
2021
Total
COIF Deposit Awounl
Fair value al the start of the period
Disposal pr￿eedS
Purchase value
Net gain on change in fair value
Fair valuè
Transfer lo Compton Vemey House Charity
2.128,￿1
12,129,214)
2,128,961
12.129,2141
(2531
12531
Fair value at ernl of the period
Historical cost al the end of the per￿d
11 Subsidiary undertaking
The charity owned the whole of the issued ordinary share capital of Compton Verney
Publications Limited, a company incorporated in the United Kingdom and registered in
England and Wales {company number 031013271. The subsidiary is used for non-primary
purpose trading 8CtNiities. All activities have been consolidated on a lin&by-line basis until
31 December 2021 in the statement of financial activities. From January 2022 until the
transfer of shares to Compton Verney House Charity, the board of the subsidiary was-. Helen
Rose Ichairl, Mark Adams (independent Non-Executive Director). Julie Finch ICEOI and
Penny Egan (Chair of CVHTI. Three directors. Helen Rose, Julie Fin¢h and Penny Egan
were Governor of the Charity. Two shares were held by individuals in trust for the Charity.
Available profits were gift aided to the parent charity under a deed of covenant. A summary
of the results of the subsidiary is shown below..
Year ended 31
December
2021
Total
Tumover
Cost of sales
Gross profit
Administrative expenses
Management tharge from parenl undertaking
Profil on ordinary activities
Total comprehensive income for the finaneial pèriod
Changes In èquity
Total equity brought forward
Total comprehensive income forthe period
Gift aid distribution lo parent charity
Totsl equity carried fon¥ard
5S3,616
1245,9851
317,631
{10,6381
1173.1551
133,838
133,838
133.838
1133.828)
The aggregate of the assets, Ilabllttles and fund$ was:
Assels
123,794
{123,7921
Funds
f.nmntnn vp.rngv Hniiqp. Tri 1st 14

Notes to the accounts
15 months ended 31 March 2023
11 Subsldlary undertaking Icontinuedl
Amounts owed from the parent to undertaking were £Nil12021' £12,324} are shown in note
15.
12 Parent charity
The parent charity's gross income and the results for the year are disclosed as follows..
Period Year endèd
ended
31
31 March
Decembar
2023
2021
Total
To181
Gross income
Result for the period
712,338
1276,7051
3,362,978
{350,9821
13 Stock
Charity
Asat
Asat
31 March 31 December
2023
2021
Total
Total
Group
Asat
31 D0￿mber
2021
Total
Finished goods
34,515
14 Debtors
Chari
Group
Asat
Asal
As8t
31 March 31 December 31 December
2023
2021
2021
Total
Total
Total
Trade debtors
Other debtors
VAT
Accrued grant income
Prepayments and accrued inc<xne
8,039
55,107
88,942
267,721
156.U24
575.833
56,589
57,364
82,588
267,721
157,663
621,905
P.nmntnn v￿.rrt￿ Hniiqp. Triist 1

Notes to the accounts
15 months ended 31 March 2023
15 Creditors: amounts falling due within one year
Charity
Period ended
Year ended
31 Mareh 31 December
2023
2021
Totsl
Total
Group
Year ended
310ecember
2021
Total
Trade creditors
Other Creditois
Taxation and social security
Amount due lo group undertaking
Accruals and deferred income
20,386
982.675
314.563
374.213
31.839
12,324
194,951
553.677
31.839
3.500
1,006.561
252,739
658,791
16 Deferred Income
Deferred income comprises unexpended grants received and deposits for private hires.
Charity
Period ended
Year ended
31 March
31 December
2023
2021
Total
Total
Group
Year ended
31 December
2021
Total
Balance al Ihe beginning of the ￿rIOd
Amount released to income in the period
76.769
151,5611
15.340
18,9811
96.471
185,8541
Amourrt deferred in the period
20.685
27.044
66,150
76.767
2S,198
125,1981
Transfer to Compton Verney House Charity
Balanc& atthe end of the
riod
27.044
7e.767
17 Penslon $¢heme
As al 31 March 2023, contributions amounting to £Nil {2021.. £6,375} were outstanding or
owed lo the defined contribution pension schemes.
On 31 March 2022, the Aegon administered pension schemes was transferred to Compton
Verney House Charity.
Al the Balan￿ Sheet date, there a total of Nil active members12021.' 35 active members)
in Compton Verney House Trust.
P.nmntnn Vp.rng.v Hni Isg. Triigt 17

Notes to the accounts
15 months ended 31 March 2023
18 Analysis of net assets between funds
General
Unr￿tricted
funds
Oe5ignated
fund5
Restricted
funds
Total funds
Tangble fixed assets
Investments
Nel current a5yets
Net 8$sets at 3t March 2023
G8ner81
un￿Stricted
funds
Des￿nel￿d
fUr￿S
Restrici8d
funds
Tolal ful￿5
Tan￿b￿ ￿￿ed8SSe￿S
lff>vesbnent5
Npl currenl ass8ts
Netassets et 31 D8cember2021
23.791.369
2,118,175
1.337.324
27.246.866
23,791,369
2. 118. 173
2.393,277
28.302,819
1.045.999
1.045.999
9.954
9.954
19 Movement in funds
Tiansfer to
Compton
Verney
House
Charity
Asat1
January
2022
Asat31
Mar¢h
2023
Income Expenditu
Gains Transfers
Restricted lunds
Park restoration rmjecl INLHF funded)
EKhibition funding
Dementia café
Creatlve & Eroagen*nt
Endowment
Totsl restri¢ted funds
5.854
(S,￿4)
17,2861
(2,1001
7.286
2,100
2.000
9.954
12,WOI
12.CQOI
7.286
115,2401
Unrestricted funds
De8ignat8d funds".
Building and gallery fund
Arts Council NPO
Building and gallery sustainabilty fund
Total designated funds
23.791.367
94,864
3,360.635
27,246.866
1331,8231 123,459.5441
194,8641
13.360.635)
1331.8231 128.915.0431
GeneNI lunds
1.045,999 734,338
1951.8411 1112.5211
331.823 11.047.797)
Total unrostdcted lund$
28,282,865 734,336
1951,8411 1112.5211
127,962,837)
Total funds at 31 March 2023
28.302.819 741.622
1953.8411 1112.5211
127.978,0771
.nmntnn VArng.v HniJ%p. Tn IRt IA

Notes to the accounts
15 months ended 31 March 2023
19 Movement in funds Icontinuedl
Ati
January
2027
At31
D&c8mber
2021
Income Expendilur8
Gains
Tr8nsfers
Restricted funds
Arts Counci7 Engl&nd- Cullur81
ReCo￿ry FLind I
Arts Council England- Culltsol
RÈcov&ry 2
Arts Council Eng18nG4- Sm811
Capit81 Gr8nt
Arts Counci7 Enoland- lti¢k Start
Gr8nÈ
National LotteryH8fit8ge Fund-
Park Restoration
Exhibition lunding
E¥hibition lunding.. Grirrting
Gibbons So￿￿ty, Weston and
Henry MO0￿ Found8fron
Demenfvs C8fé
GTrats"ve and enoagemont
EffTdowmenl
TOtal￿$t￿¢$e￿fUTr￿s
339,921
1340.270)
349
224,000
(224,210)
210
90,333
(90.333)
25,OOQ
(25,000)
6.098
2, 100
(244)
12, lOQJ
5,854
86.721
300
1.842
186.721)
1300)
(1.842)
2,100
2,lOQ
350. 119 428. 196
(65&687)
(112.674)
9.954
Unrestncfedlund8
D8slgna¢edfynds.'
Buildjng and galleryfvn
Arts COun￿l￿p0
Building and galIerysusta￿abJlitY
23,840. 132
143,242 152,760
{48.765J 23. 791.367
94,864
(201,138)
3,360.635
27.344.009
3,360,635
(48.T651 27,246,866
Tot81des￿￿atedfun￿s
Arts CounolEngland- Cultural
RecoveryFund 2
Coron8virus Job RebnJon
Schem@
GeF>wylfunds
To181 unr8sfpYeledlurtd$
52, 760
(201.1381
236.000
1236.000)
46,708
{4S,708)
836.622 2.755.936 (2.697,2101 (10.788)
28. 180.631 3. 191.404 (3.181,0561 110,788)
161.438 1.045.999
112,674 28,282,865
Tot81 fufr7d$ 8t31 De¢ember2021 28.530.750 3.6t9.600 (3.836.743J (10.788)
28.302,819
f.nmntnn vp.rngv HniiRp. TriJ%t 1

Notes to the accounts
15 months ended 31 March 2023
19 Movement In funds Icontirtuedl
Purposes of rgstricted funds
The Park Restoration project- funded by the National Lottery Herrtage Fund, concluded
in 2020. The balance has been transferred to CVHC to fund future works.
Purposes of designated funds
Designated funds represent funds ring-fenced by the Govemor for special purposes. The
largest fund was the Building and Gallery fund £nil12021.. £23,791,367) and il shows the
value of monies already invested in the development of the gallery, grounds and other fixed
assets. The balance has been transferred to CVHC.
The second largest fund, the Building & Sustainability fund is £nil {2021.' £3,360,635). This
has been built up over the past few years with the help of the Matched Funding from CVF.
The purpose of this fund is lo support ongoing development, conservation and maintenance
of the estate as well as provide funding for strategic artistic and commercial initiatives. The
balance has been transferred to CVHC
Unrestrieted funds
The Governor retains unrestricted reserves to provide for future expenditure, whether of
capital or revenue nature, which cannot be covered by incoming resources. The Governor
reviews the l@vel of unrestricted reserves carried forward annually to ensure they provide a
sound underpinning, in terms of Cash flow, strategic planning and risk management for
ongoing investments in the capital infiastruclure of the estate.
The Governor believes that unrestricted general funds should be held lo cover between
three and six months. running and reorganisation costs, in order to finance operations
should events beyond the Trust's control affect ils revenue streams or operating costs. The
intention is lo grow the level of this General Fund to match increased running costs. Al the
period end, the balance on the reserves was £nil following the transfer to CVHC
20 Operatlng lease cornmitments
The charity's operating lease commitments were transferred to CVHC at 31 March 2022.
Period Year ended
ended
31
31 March December
2023
2021
Total
Total
Less than 1 year
1-5years
884
1,326
2,210
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Notes to the accounts
15 months ended 31 March 2023
21 Capital commitments
Al the balance sheet date, the charity had no commitments in respect of capital projects
12021.. £nill.
22 Transfer to Compton Verney House Charity
A new charity, Compton Verney House Charity {CVHCI. company registration number
13754286, was incorporated on 19 November 2021. The assets, liabilities and activities of
Compton Verney House Trust were transferred lo CVHC on 31 March 2022.
The assets and liabil¢ties were represented by the following funds..
31 March
2022
Tangible fixed assets
Cost
Depreciation
26,715,991
12,958,533)
23.757.458
Investments
Debtors
Cash at bank and in hand
Crèditors.. amounts falliro due within one year
2,005.652
358,349
1,950,614
193,9961
27,978,077
31 March
2022
Restricted funds
General funds
Designated funds
1 5,240
1,047,797
26,915,040
27,97B.077
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