2020-11-30-accounts - Stoneleigh Abbey Limited

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The trustees serving	The trustees serving	The trustees serving	during the	during the	during the	year and since the	year end were as follows:
Mr A P M Bird,	OBE						Chairman
Mrs D Ingle
Mr R J 8 Pringle,		DUniv,			DL, FRSA
Mr M Binney, CBE
Key Personnel	Management
Mr D Eaves —General				Manager
Registered office		and		principal		office
Estate Office
Stoneleigh Abbey
Kenilworth
Warwickshire
CV8 2LF
Accountants
Haines Watts Bristol			Limited
Chartered Accountants
6-8 Bath House
Bath Street
Bristol
BS16HL
Auditors
Moffat Gilbert
Chartered Accountants
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 SQL
Bankers
Barclays Bank pic
150Parade
Leamington Spa
Warwickshire
CV32 4AZ
Investment advisers
Harris Allday
Church Mews
Ombersley
Worcestershire
WR9 OEW

						Unrestricted	Restricted	Endowment	Total funds	Unrestricted	Restricted	Endawment	Total funds
					Notes	funds 2020	funds 2020	funds 2020	2020	funds 2019	funds 2019	funds 2019	2019
						f	f	f	f				f
Income and endowments	from:
Donations and legacies:
Donations
Grants receivable						85,625			85,625	32,527			32,527
Other trading activities:
Events including associated room hire						4,267			4,267	166,916			166,916
Service charges						46,631	1,639		48,270	42,607	1,639		44,246
Sundry income						118,025			118,025	8,200			8,200
Investments:
Rents receivable						123,352	6,540		129,892	106,982	7,201		114,183
Dividends and interest						27,305	8,145		35,450	13,711	22,575		36,286
Charitohle activities:
Visitors tothe Abbey						49,273			49,273	99,895			99,895
Totalincome						454478	16324		470,802	470,838	31,415		502,253
Expenditure on:
Raising funds
Costs ofobtaining grants						3,842			3,842	2,204			2,204
Events						21,014			21,014	32,067			32,067
Service casts						27,327			27327	28,453			28,453
Publicity						9,718			9,718	6,855			6,855
Taxatlon
Let property costs						45,672			45,672	50,552			50,552
Other investment management			casts			4,825			4,825	4,710			4,710
Charitable activities
Visitors to the Abbey						175,285			175,285	200,649			200,649
Maintenance gr upkeep		ofthe Abbey, grounds		&contents		285,987	162	64	286,213	227,784	219	86	228,089
Total resources expended						573,670	162	64	573,896	553,274	219	86	553,579
Net incoming resources before transfers						(119,192)	16,162	(64)	(103,094)	(82,436)	31,196	(86)	(51,326)
Transfers between funds
Net incoming / (autgaing) resources before other recognised gains and losses						(119,192)	16,162	(64)	(103,094)	(82,436)	31,196	(86)	(51,326)
Gains (lasses) an investment		assets				33,072	756	67,105	100,933	12,879	6,290	86,080	105,249
Net income/(expenditure)	for the year					(86,120)	16,918	67,041	(2,161)	(69,557)	37,486	85,994	53,923
Net movements in funds						(86,120)	16,918	67,041	(2,161)	(69,557)	37,486	85,994	53,923
Total funds at 1December	2019-2018					1,270,474	2,613,782	16,279,571	20,163,827	1,340,031	2,576,296	16,193,577	20,109,904
Total funds at 30November		2020-2019				1,184,354	2,630,700	16,346,612	20,161,666	1,270,474	2,613,782	16,279,571	20,163,827

				2020	2019
				E	E
Incoming	resources
Donations	and legacies			85,625	32,527
Other trading activities				170,562	219,362
Investment	income			165,342	150,469
Incoming	resources from charitable		activities	49,273	99,895
				470,802	502,253
Resources	expended
Raising funds				112,398	124,841
Charitable	expenditure			461,498	428,738
				573,896	553,579
Operating	surplus for the year			(103,094)	(51,326)
Realised gain on sale of investments				100,933	105,249
Surplus for the year before taxation				(2,161)	53,923
Taxation
(Deficit)/Surplus for the year				(2,161)	53,923
All activities relate to continuing		operations

STONELEIGH ABBEYLIMITED	STONELEIGH ABBEYLIMITED
CONSOLIDATED AND CHARITY BALANCE SHEETS
30 NOVEMBER 2020				Company	registration number: 03249545
			Group	Group	Charity	Charity
		Notes	2020	2019	2020	2019
			E		f	f
Fixed assets
Tangible assets		17	36,868	16,795	33,038	11,745
Heritage assets		18	13,871,985	13,871,985	13,871,985	13,871,985
Investments		19	6,426,750	6,315,330	6,427,750	6,316,330
			20,335,603	20,204,110	20,332,773	20,200,060
Current assets
Debtors		20	161,302	133,134	158,709	258,042
Short term deposits			12,791	12,778	12,791	12,778
Cash at bank 8 in hand			3,690	13,874	2,349	1,345
			177,783	159,786	173,849	272,165
Liabilities: amounts	falling due within one year	21	(340,752)	(200,069)	(348,726)	(329,406)
Net current liabilities			(162,969)	(40,283)	(174,877)	(57,241)
Liabilities: amounts	falling due after one year	22	(10,968)		(10,968)
Provisions for Liabilities
Net assets			20,161,666	20,163,827	20,146,928	20,142,819
Capital funds
Endowments			16,346,612	16,279,571	16,346,612	16,279,571
Income funds
Unrestricted			1,184,354	1,270,474	1,169,616	1,249,466
Restricted			2,630,700	2,613,782	2,630,700	2,613,782
			20,161,666	20,163,827	20,146,928	20,142,819

CONSOLIDATED CASH FL	OW STATEME	NT
30 NOVEMBER 2020							Company	registration number:	03249545
								Group	Group
						Notes		2020	2019
								f
Cash flow from operating	activities							(172,246)	(114,707)
Interest paid								(6,782)	(3,369)
Net cash flow from operating activities								(179,028)	(118,076)
Cash flow from investing	activities
Payments to acquire tangible fixed assets								(1,593)
Hire purchase payments								(3,884)
Interest received								150	47
Rents received from investment properties								129,892	114,183
Net cash flow from investing activities								124,565	114,230
Net increase / (decrease)	in cash and cash equivalents							(54,463)	(3,846)
Cash and cash equivalents	at beginning	of reporting			period			(2,954)	892
Cash and cash equivalents	at end date	ofreporting			period			57,417	2,954
Cash and cash equivalents	consists of:
Cash at bank and in hand								3,690	13,874
Short term deposits								12,791	12,778
Overdraft ba lances								(73,898)	(29,606)
Cash and cash equivalents	at end of reporting		period					57,417	2,954
								Group	Group
								2020	2019
1 Reconciliation ofthe net income/(expenditure)					to the net cash flow from operating	activities		E	E
Net income/(expenditure) for the reporting				period				(2,161)	53,923
Depreciation charges for charity								9,000	3,918
Depreciation charges for trading		subsidiary						1,216	1,617
(Gain)/losses on investments								{100,933)	(105,249)
Interest paid								6,782	3,369
Dividends and interest received								(35,450)	{36,288)
Rents received from	investment	properties						(129,892)	(114,183)
Decrease/(increase)	in debtors for charity							99,333	(36,335)
Decrease/(increase)	in debtors for trading		subsidiary					135,911	(101,702)
(Decrease)/increase	in creditors for charity							(14,004)	118,340
(Decrease)/increase	in creditors for trading subsidiary							(142,048)	97,883
								172,246	114707

A summary	ofthe financial	activ	ities undertaken by the charity alone is set out below:
				2020	2019
				f	f
Gross incoming resources				466,535	482,043
Total expenditure on charitable			activities	(461,496)	(428,738)
Fundraising	costs ofgrants, events, service charges and publicity			(51,366)	(47,752)
Investment	management	costs		(50,497)	(55,262)
Investment	gains			100,933	105,249
Net incoming resources				4,109	55,540
Prior year adjustment
Total funds	brought forward			20,142,819	20,087,279
Total funds	carried forward			20,146,928	20,142,819
Represented	by:
Restricted income funds				2,630,700	2,613,782
Unrestricted	income funds			1,169,616	1,249,466
Endowment	funds			16,346,612	16,279,571
				20,146,928	20,142,819

Grants receivable
	2020	2019
		f
Capita I grants
Revenue grants	85,625	32,527
	85,625	32,527

grounds of Sto below.	neleigh A	bbey. Th	e ch	arity o	wns the entire share cap	ital of1,000 o	rdinary shares off L each. A	summary ofthe trading re	sults is shown
								2020	2019
								E	E
Turnover								4,267	166,916
Cost ofsales								(633)	(10,921)
Gross profit								3,634	155,995
Administrative	expenses							(9,902)	(157,612)
Taxation
Net profit/(loss)								(6,268)	(1,617)
The aggregate	ofthe assets, liabilities			and funds was:
Assets								95,527	243,843
Liabilities								(79,790)	(221,838)
Net assets								15,737	22,005
1000Ordinary	shares of	E1						1,000	1,000
Profit 5 loss account								14,737	21,005
								15,737	22,005
Administrative	expenses	includes	a donation		ofENIL (2019:f146,706)to Stoneleigh		Abbey Ltd.
Stoneleigh Abbey Events		Limited	receives free access to the grounds			and buildings	for events held.
Investment income
								2020	2019
								f	E
Rents receivable								129,892	114,183
Dividends receivable								21,978	26,375
Interest receivable								13,472	9,911
								165,342	150,469

					Allocated	to
				Charitable		Governance	Total
Support cost				activities f	Raising funds f	costs	2020
General office				7,053	3,396		10,449
Insurance				43,376			43,376
Finance costs				6,104	678		6,782
Accountancy	professional	services		34,358	12,072		46,430
External audit						7,250	7,250
Legal and other professional			services	36,171	18,393		54,564
Support staff	costs			44,847	44,847		89,695
Governance	costs reanalysed			7,250		(7,250)
				179,159	79,386		258,546

			Maintenance &upkeep ofAbbey, Grounds and Contents	Visitors tothe Abbey	Total 2020
			f		E
Direct staff costs			18,411	112,717	131,128
Property maintenance			101,987		101,987
Parkland and	landscape	gardens	9,556		9,556
Equipment repairs			1,607		1,607
Depreciation			9,000		9,000
Teashop and guidebooks				17,286	17,286
Light and heat to State rooms				11,775	11,775
Support costs			145,652	33,507	179,159
			286,213	175,285	461,498
Staff costs
				2020	2019
				E	f
Wages &salaries				196,058	218,034
Social security	costs			10,558	12,681
Other pension	costs			5,769	5,597
				212,385	236,312

				2020	2019
				No	No
Average	total number ofstaff in	year		12	13
Average	full time equivalents			9	8
The charity has a high proportion		ofpart-time	staff owing to its seasonal operations.

Moveme	nt in total funds f	or the year
			2020	2019
			E	f
This is stated after charging		/ (crediting):
Auditors'	remuneration:
Audit	fee		7,750	8,500
Depreciation			10,220	5,535

		Abbey furniture	Plant Ik
Group		&fittings	equipment	Total
		E	E	E
Cost
30November	2019	55,433	112,196	167,629
Additions			30,293	30,293
Disposals
30November	2020	55,433	142,489	197,922
Depreciation
30November	2019	48,415	102,419	150,834
Charge		1,755	8,465	10,220
Disposals
30November	2020	50,170	110,884	161,054
Net BookValue
30November	2020	5,263	31,605	36,868
30November	2019	7,018	9,777	16,795

		Abbey furniture	Plant &
Charity		&fittings	equipment	Total
		f	E	f
Cost
30November	2019	55,433	80,776	136,209
Additions			30,293	30,293
Disposals
30November	2020	55,433	111,069	166,502
Depreciation
30November	2019	48,415	76,049	124,464
Charge		1,755	7,245	9,000
Disposals
30November	2020	50,170	83,294	133,464
Net BookValue
30November	2020	5,263	27,775	33,038
30November	2019	7,018	4,727	11,745
Heritage assets
Group and Charity		Land 8 buildings	Chattels	Total
		E	E
Cost
30November	2019	12,936,727	935,258	13,871,985
Additions
Disposals
30November	2020	12,936,727	935,258	13,871,985

All investments are held primarily	All investments are held primarily	to provide
			Group	Group	Charity	Charity
Movement in fixed asset investments			2020	2019	2020	2019
Market value brought forward			6,315,330	6,173,840	6,316,330	6,174,840
Add: additions to investments	at	cost
Disposals at carrying value
Add net gain (loss) on revaluation			111,420	141,490	111,420	141,490
Market value as at 30November		2020	6,426,750	6,315,330	6,427,750	6,316,330
Investments at market value comprise:
Investment in subsidiary					1,000	1,000
Investment properties			5,060,853	5,060,853	5,060,853	5,060,853
UK fixed interest bonds			275,954	260,844	275,954	260,844
UK securities			1,030,357	857,577	1,030,357	857,577
Cash deposits			59,586	136,056	59,586	136,056
			6,426,750	6,315,330	6,427,750	6,316,330

Debtors
	Group	Group	Charity	Charity
	2020	2019	2020	2019
	E	E	f	E
Rents receivable	10,254	26,492	10,254	5,142
Amounts owed by group undertakings
Other debtors	6,523	606	5,653	606
P repayments	144,525	106,036	142,802	252,294
	161,302	133,134	158,709	258,042

OTE EAR	S TO THE FINANCIAL STATEMENTS ENDED 30 NOVEMBER 2020	S TO THE FINANCIAL STATEMENTS ENDED 30 NOVEMBER 2020	S TO THE FINANCIAL STATEMENTS ENDED 30 NOVEMBER 2020
21	Creditors: amounts falling due within			one year			Group	Group	Charity	Charity
							2020	2019	2020	2019
							E	E	E	E
	Bank overdraft		(secured)				73,898	29,606	73,898	29,606
	Trade creditors						74,145	43,264	74,145	42,685
	Amounts owed		to group undertakings	and undertakings	in which the company	has			87,763	204,469
	a participating	interest
	Corporation tax
	Other taxes and		social security				9,157	10,621	9,157	4,950
	Other creditors		and accruals				42,228	38,759	42,228	38,259
	Deferred income						136,823	77,819	57,034	9,437
	Hire purchase	contracts					4,501		4,501
							340,752	200,069	348,726	329,406

22	Creditors:am	ounts	fallinduewithinoneear
			g y	Group	Group	Charity	Charity
				2020	2019	2020	2019
					f	E	E
	Hire purchase	contracts		10968		10968
				10,968		10,968
23	Deferred income

Deferred	income	comprises	r	ent and service charges invoiced in a	dvance under the terms ofthe leases an	d service charge	agreements.
					Group	Group	Charity	Charity
					2020	2019	2020	2019
					E	E	f	f
Balance	as at 01	December	2019		77,819	47,330	9,437	7,463
Amount	released	to incoming		resources	(77,819)	(47,330)	(9,437)	(7,463)
Amount	deferred	in year			136,823	77,819	57,034	9,437
Balance	as at 30	November	2020		136,823	77,819	57,034	9,437

Analysis ofchari	table fu	nds
												Gains/ (losses)
									At 1December	incoming	Outgoing	&prior year	At 30November
									2019	resources	resources	adjustments	2020
Group									f	E	E	E
General fund									1,270,474	454,478	(573,670)	33,072	1,184,354
Total unrestricted funds									1,270,474	454,478	(573,670)	33,072	1,184,354
Restricted funds
Heritage Lottery	Fund endowment				income				568,645	16,324	(162)	756	585,563
Mary Lodge fund									75,000				75,000
Warwick District	Council	grant fund							808				808
Country Houses	Foundation			Cast Iron Bridge					50,000				50,000
Natural England	Repton	Landscape			&River		Structures		1,919,329				1,919,329
Total restricted funds									2,613,782	16,324	(162)	756	2,630,700
Endowment funds
Heritage Lottery	Fund endowment				fund				2,028,036			67,337	2,095,373
Land and chattels fund									6,067,433				6,067,433
Fees and contingencies fund									66,373			(232)	66,141
Heritage Lottery fund	Fund	restoration			and	public		access	3,506,398		(64)		3,506,334
European Regional Development fund					Fund		restoration		1,246,023				1,246,023
English Heritage	necessary		repairs fund						1,351,696				1,351,696
The proceeds of	Cunnery	&		Kennels	fund				2,013,612				2,013,612
Total endowment funds									16,279,571		(64)	67,105	16,346,612
Total funds									20,163,827	470,802	(573,896)	100,933	20,161,666
									At 1December	Incoming	Outgoing	Gains/(losses)	At 30November
									2018	resources	resources	&transfers	2019
Group									E		E	E	f
General fund									1,340,031	470,838	(553,274)	12,879	1,270,474
Total unrestricted funds									1,340,031	470,838	(553,274)	12,879	1,270,474
Restricted funds
Heritage Lottery	Fund endowment				income				531,159	31,415	(219)	6,290	568,645
Mary Lodge fund									75,000				75,000
Warwick District	Council	grant fund							808				808
Country Houses	Foundation			Cast Iron Bridge					50,000				50,000
Natural England	Repton	Landscape			&River		Structures		1,919,329				1,919,329
Total restricted	funds								2,576,296	31,415	(219)	6,290	2,613,782
Endowment funds
Heritage Lottery	Fund endowment				fund				1,941,956			86,080	2,028,036
Land and chattels fund									6,067,433				6,067,433
Fees and contingencies fund									66,373				66,373
Heritage Lottery fund	Fund	restoration			and	public		access	3,506,484		(86)		3,5Q6,398
European Regional Development					Fund		restoration		1,246,023				1,246,023
fund
English Heritage	necessary		repairs fund						1,351,696				1,351,696
The proceeds of	Cunnery	&		Kennels	fund				2,013,612				2,013,612
Total endowment funds									16,193,577		(86)	86,080	16,279,571
Total funds									20,1Q9,904	502,253	(553,579)	105,249	20,163,827

Analysis ofchari		table funds	table funds	table funds	(Continued)	(Continued)
													Gains/ (losses)
										At 1December	Incoming	Outgoing	&prior year	At 30 November
										2019	resources	resources	adjustments	2020
Charity										f		E	E	f
General fund										1,249,466	450,211	(563,133)	33,072	1,169,616
Total unrestricted		funds								1,249,466	450,211	(563,133)	33,072	1,169,616
Restricted funds
Heritage Lottery		Fund endowment				income				568,645	16,324	(162}	756	585,563
Mary Lodge fund										75,000				75,000
Warwick District		Council	grant fund							808				808
Country Houses	Foundation				Cast Iron Bridge					50,000				50,000
Natural England		Repton	Landscape			&River		Structures		1,919,329				1,919,329
Total restricted	funds									2,613,782	16,324	(162)	756	2,630,700
Endowment funds
Heritage Lottery		Fund endowment				fund				2,028,036			67,337	2,095,373
Land and chattels		fund								6,067,433				6,067,433
Fees and contingencies fund										66,373			(232)	66,141
Heritage Lottery fund		Fund	restoration			and	public		access	3,506,398		(64)		3,506,334
European Regional Development fund						Fund		restoration		1,246,023				1,246,023
English Heritage		necessary		repairs fund						1,351,696				1,351,696
The proceeds of	Cunnery		&		Kennels	fund				2,013,612				2,013,612
Total endowment		funds								16,279,571		(64)	67,105	16,346,612
Total funds										20,142,819	466,535	(563,359)	100,933	20,146,928
										At 1December	Incoming	Outgoing	Gains/ (losses)	At 30November
										2018	resources	resources	&transfers	2019
Charity										E	f	E	E	f
General fund										1,317,406	450,628	(531,447)	12,879	1,249,466
Total unrestricted		funds								1,317,406	450,628	(531,447)	12,879	1,249,466
Restricted funds
Heritage Lottery		Fund endowment				income				531,159	31,415	(219)	6,290	568,645
Mary Lodge fund										75,000				75,000
Warwick District		Council	grant fund							808				808
Country Houses	Foundation				Cast iron Bridge					50,000				50,000
Natural England	Repton		Landscape			& River		Structures		1,919,329				1,919,329
Total restricted funds										2,576,296	31,415	(219}	6,290	2,613,782
Endowment funds
Heritage Lottery	Fund endowment					fund				1,941,956			86,080	2,028,036
Land and chattels		fund								6,067,433				6,067,433
Fees and contingencies fund										66,373				66,373
Heritage Lottery fund		Fund	restoration			and	public		access	3,506,484		(86)		3,506,398
European Regional Development fund						Fund		restoration		1,246,023				1,246,023
English Heritage	necessary			repairs fund						1,351,696				1,351,696
The proceeds of	Cunnery		&	Kennels		fund				2,013,612				2,013,612
Total endowment		funds								16,193,577		(86)	86,080	16,279,571
Total funds										20,087,279	482,043	(531,752)	105,249	20,142,819

Analysis ofnet assets b	etw	een funds
					Endowment
			General funds	Restricted funds	funds	Total funds
Group			E	E		E
Tangible fixed assets			36,194	485	193	36,872
Inalienable and historic	fixed assets		952,873	2,505,634	10,413,478	13,871,985
Investments			368,814	99,940	5,957,996	6,426,750
Current assets			103,616	25,321	22,000	150,937
Current liabilities			(266,175)	(680)	(47,055)	(313,910)
Non current liabilities			(10,968)			(10,968)
Provisions for liabilities	and	charges
Net assets at 30 November		2020	1,184,354	2,630,700	16,346,612	20,161,666
Company
Tangible fixed assets			32,360	485	193	33,038
Inalienable and historic	fixed assets		952,873	2,505,634	10,413,478	13,871,985
Investments			369,814	99,940	5,957,996	6,427,750
Current assets			99,685	25,321	22,000	147,006
Current liabilities			(274,148)	(680)	(47,055)	(321,883)
Non current liabilities			(10,968)			(10,968)
Net assets at 30 November		2020	1,169,616	2,630,700	16,346,612	20,146,928
					Endowment
			General funds	Restricted funds	funds	Total funds
Group			E	E	E	f
Tangible fixed assets			15,894	644	257	16,795
Inalienable and historic	fixed assets		952,873	2,505,634	10,413,478	13,871,985
Investments			333,400	138,094	5,843,836	6,315,330
Current assets			138,098	(29918)	22,000	130,180
Current liabilities			(169,790)	(673)		(170,463)
Provisions for liabilities	and	charges
Net assets at 30November		2019	1,270,475	2,613,781	16,279,571	20,163,827
Company
Tangible fixed assets			10,844	644	257	11,745
Inalienable and historic	fixed assets		952,873	2,505,634	10,413,478	13,871,985
Investments			334,400	138,094	5,843,836	6,316,330
Current assets			250,476	(29,918)	22,000	242,558
Current liabilities			(299,127)	(673)		(299,800)
Net assets at 30November		2019	1,249,466	2,613,781	16,279,571	20,142,818