Berkeley Castle Charitable Trust Trustees, report and financlal statements For the year ended 31 March 2025
Berkeley Casde Charitable Trust Contents Page Legal and administrative information Report of the trustees Independent examlner's report Statement of flnancial aciivitles Balance sheet Statement of cashflows Notes to the flnanclal statements 9-19
Berkeley Castle Charltable Trust Legal and administrative inforniation Charltyname: Berkeley Castle Charitable Trust Trustees: Charles Wyld Henry Berkeley Reglnald Heyworth Patrick Downes Castle director: Michelle Boliver Independent examlner: Davld Sedgewlck c/0 Saffery LLP St Catherlne's Court Berkeley Place Clifton Bristhl BSB IBQ Bankers: National Westminster Bank PO Box 1369 16 The Plain Thornbury Bristol BS35 2BF Sollcltors: Burges Salmon One Gla55 Wharf Br15tol B52 OZX Investment managers: Trinity Brldge Asset Management Wlgmore Yard 42 Wlgmore Street London WIU2RY Reglstratlon no: 1061062 Prlnclpal offl¢e.' The Berkeley Castle Estste Office Berkeley Castle Berkeley Gloucestershire GL13 9BQ
Berkeley Castle Charitable Trust Report ofthe trustees Forthe year ended 31 March 2025 The Trustees present their report along with the consolidated financial ststements of the charity and its subsidiary for the year ended 31 March 2025. The Financial statements comply with the charitys trust deed, the Charities Act 2011 and the Ststement of Recommended Practice.. Accounting and Reportingby Charities 2019 IFRS 102). History and constitution The Berkeley Castle Charitable Trust was formally established by a deed dated 26 February 1997. On 25 MaTch 1997 Mr Berkeley and his Co-TrllStee of the Berkeley Will Trust [the owners of the fabric of the castte) granted a ninety-nine year lease to the Trustees of the Berkeley Castle Charitable TrusL On the same date, a giftwas made to the Trustees of the business of admitting members of the general public to the castle. Following the estsblishment of the Berkeley Chattels Settlement on 13]uly 1998, certaln further chatte15 were the sublert of a supplemental licence enabling the trustees of the Berkeley Castle Charitable Trust to use them. Structurei governance and management Governing document The charlty Is governed by a trust deed and is an unincorporated association. Appointment of trustees The trust deed states that the nuniber of Trustees shall be no less rhan three and no more than five. If the number of Trustees should fall below three, the remaining Trustees may exercise their power to appoint a new Trustee. The Trustees must alway5 include at least one male descendant OF Captain Robert George Wilmot Berkeley. Any new Trustee is offered appropriate Induction and training. Organisation Under the ternis of the trust deed the Trustees have wide discretionary powcr5 relating to the investment and use of the trust fund, dealing with property, employment of staff and all other acts of management in relation to Berkeley Castle. The director of the castle, appointed by the Trustees, has responsibility for the running ofthe businesses of the trust and its subsidiary companyi which 15 fully owned by the Trustees. Rlsk management A formal risk 3s.%essment in line with SORP FRS102 recommendations has been produced. It was adopted at 3 meetlllg of the Trustees on 11 March 2004 and is to be kept on the agenda at tUre meetings on an annual basis to ensure that the matter is kept under review and procedures established to manage those risks. The major ri5k5 revolve around unforeseen prablems occurring during the repair work5 on the castle and the surrounding areas. This risk is mitigated by taking high quality professional advice concerning the restoratiDn work at all stages before and durlng the works, liaising with the staff onsite and regular trustee meetings to Follow up on any issues. A second set of risks involve natural disasters causlng damage to the castle and the grounds. These rlsks are mitigated by ensurlng adequate insurance protection is available and through adequate and timely malntenance of the buildings and their immediate surroundings. Statement of tru5teeg responsibilitles The Trustees are responsible for preparlng the Trustees, report and the financial 5t3tements in accordance with applicable law and United Kingdom Accounting Standard5 [United Kingdom Accepted Accounting Practicej. The law applicable to charities in England and Wales Tequires the Trustees to prepare financial ststements for each financial year which give a true and fair view of the stste of affairs of the charity and the group and ofthe incoming resources and application of resources of the charity and the group for that period. In preparing these financial statements, the Tru5tee5 are required to.. select suitable accounting policies and then apply them consistendy., observe the Tnethods and principles in the Charities SORP [FRS102),' make judgements and estimates that are reasonable and prudent,. state whether applicable accounting stsndard5 have been followed. subject to any material departure5 disc105ed and explained in the financial statement5; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Berkeley Castle Charftable Trust Report of the trustees For the year ended 31 March 2025 The Trustees are responsible for keeping proper accounting records that disclose wth reasonable accuracy at any time the financial position ofthe charity and enable them to ensure that the financial statements comply with the Charities Art 2011, applicable accounting regulations and the prowsions of the trust deed. They are also responsible for safeguarding the assets ofthe charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Objectives and activities Oblectlves The Trustees stand possessed of the trust fund and related income and can apply such funds in the furtherance of the trust.. they also have the power to accumulate (as permitted by law) the income of the trust fund. Subleetto these powers, the Thistees shall apply the annual income of the trust fund for the following objects: a) The maintenance, repair and preservation for the beneflt of the publlc of those parts of Berkeley Castle, Berkeleyj Gloucestershire, which are open to the publlc. b) The beneflt of such charlty or ch3ritles or for such other charitable purpose or charltable purposes as the Trustees shall from time to time in their absolute dlscretlon think flt. To meet the objectives of the trust, new income raising activities are sought, particularly through Its subsidiary trading company, which can offer the cast]e as a location for filming and other events. The castle invests in attrdcting visltors and work5 Wlth a number of other attractions and local agencie5 to promote the castle. The castle also provldes employment within the area by creating work for local people with knowledge of the castle and its history. Future plans The aim is to continue to make the castle available to the public in an efficient manner and to raise further fund5 for its upkeep and repair. It 15 hoped to add to the visitor experience and, with the help of the Friends of Berkeley Castle, to continue with a programme of repair and restoration of furniturc, pictures and other contents. Public benefit The Charities Act requires that there is an identifiable benefit or benefits arising from the work of all charities, and such benefSt must be to the public or a section of the public. The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the trvst's aims and objectives and in planning future activities. In pur5UIt of Its charitable objert the trust invests in the repair and upkeep to malntaln and Improve the environment for the contents of the castle and improve the experience for v5sltors. No section of the publlc Is excluded from those parts ofthe castle that are open to the publlc: dSsabled access is available where practtcal. Those working for the trust are remunerated, but there are otherwlse no private benefits. It can therefore be seen from this, and from other Informatton In this report, that the work of the trust beneflts the public. Achlevements and performance Number of visitor5 in YE25 increased by 15% to 40,05112024.. 34,741) and admission income Increased by 22% to £357,126 (£291,196]. The increase in admissions income to due to the increase in numbers as well as an increase in the admission price. An increase in visitor taking advantage of the one-year pass has resulted in an increase of gift ald recelved. Increase admission5 was also helped by a successfiJl-Strict]y Event and Exhibition" The Thstees would again like to record their appreciation of all the support the castle receive5 on a voluntsry basis- from the Friends of Berkeley Castle and rnany other individuals and organisations. Financial review There is a Group deficit for theyear of £195,387 [2024 surplus.. £633,816), which, deducted from the surplu5 brought forward gives total Group funds of £1,380,873 [2024- £1,576,260] caTried forward. The Group donation5 and legaaes incoTne has decreased to £109,66612024- £611,322).
Berkeley Castle Charltable Trust Report ofthe trustees For the year ended 31 March 202S The Group charitable activities income intreased to £404,994 (2024.. £338.973). The Group charStable activittes expendire reflects an increase in costs to £1.145,66312024.. £940,434) compared to13Styear mainly due to increased repairs costs, which saw renovation to the event toilets and works on the pathways throughoutthe castle grounds. wage5 saw an annual pay rise. events expenses due to the "Strirt]y Event and Exhibition- and a large increase in depreciation as the walled garden has beeTJ finished and is now In use. Results ofsubsidiary The subsidiary trading company, Berkeley Cast]e Enterprises Limited, made a loss of £10,070 (2024.. £5,322) after deductlng a donation to Berkeley Castle Charitable Trust of £95,651 [2024.. £251,765). Investtnent policy and rerS There are no restrictions on the charity's power to invest and the Trustees have power to delegate discretionary powers of investment to an investment manager. The charity has adopted a total return policy for its inveslJnent income, and a strategy and risk profile is agreed annually with the investment manager. The investment performance is reviewed wa the manager's quarterly reports and the Trustees, or their representstive, meet with the manager annually to discus5 this performance. The Trustees intend that the real value of their assets be malntained and enhanced over the long term by investment In a portfollo comprised of equitie5, fixed income stocks and cash. The Investment managers have been instructed to manage a diversified portfolio of suitable investments on a discretionary basis. Reserves pollcy At the year end the Group held unrestricted fvnds of £1,356,974 (2024,. £1,542,291) and £23,899 (2024: £33,969] In unrestricted funds from non-charitable trading. The Trustees have reviewed the reserves of the charlty and consider that a target level of unrestricted fund5 of £250,000 to £300,000 is suitable to enable the Trustees to continue to fitnd management, administration and support costs and cover any unplanned repairs. Of the total unrestricted funds held of £1,380,973, £433,183 are considered to be realisable and the balance of £875,790, which relate5 to fixed assets, are considered unrealisable at the balance sheet date. Approved by the Trustees and $5gned on thelr behalf by: Charles Wyld 9 October 2025
Berkeley Casde Charitable Trust Independent oyamlner's report to the trustees For the year ended 31 March 2025 I reportto the tharity trustees on my examination of the consolidated accounts of the Group comprising the Berkeley Castle Charitable Trust ('the Trust,) alld its subsidiary underraking for theyear ended 31 March 2025. Respective re5pon51bllltlES oftrustee5 and examlner As the trustees of the Trust YOU are responsible for the preparation olthe consolidated accounts of the Group in accordance with the requirements of the Charities Act 20111'the Act,) and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both the Trust and the Group are not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect oFmy examination of the consolidated accounts. I have carried out my examination under section 145 of the 2011 ACL In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)[b) ofthe 2011 ACL Basis of independent examlner's report My examination was carried out in accordance w5th the general Dlrections given by the Charity Commlsslon. An examination includes a revlew of the accounting records kept by the charity and a cotnparison of the accounts presented those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustecs concerning any such matters. The procedure5 undertaken do not provide all the evidence thatwould be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report Is IlmSted to those matters set out in the statement below. Independent examlner's ststement Since the Trusys gross incnme exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member ofAssociation of ChaTtered Certified Accountants, which is one uf the listed bodies. I have completed my examination. I confirm that no matters have come to my attentlDn in cOnneC0n wlth the examlnatton gSving me cause to believe.. accounting records with respect to thc Trust were not kept as required by section 130 ofthe 2011 Act and with respect to its subsidiaries were not kept as required by section 386 of the Companies Act 2006,. or the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports] Regulations 2008 other than ally requirement that the accounts give a'true and fair view, which is not a matter considered as part ofan independent examination., or the accounts have not been prepared in accordance with the methods and princlples of the Statement of Recommended Practice for accounting and reportlng by char5ties applicable to charities preparlng their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland QFRS 1021. I confirm that there are no other matters to which your attention should be dramm to enable a proper understsnd5ng of the accounts to be reached. David Sedgwick rcc Saffery LLP St Catherine's Court Berkeley Place Clifton Bristol Date.. o%.10.toi< BS8 IBQ
Berkeley Casde Charitable Trust Statement of flnancial activltles For the year ended 31 March 2025 Notes Group 202S Group 2024 Charlty 202S Charlty 2024 Income from Donatlons and legacies Charitable artivities Other trading actlvities Investments 109,666 404,994 435,692 18.919 611,322 338,973 583,743 16.712 205,317 439,913 863,087 383,164 15,098 13,087 Total 969.271 1,550,750 660,328 1,259.338 Expendlture on Ralsing funds Charltable activltles 2,311 1,145.663 2,110 940.434 2,311 826.650 2,110 643,700 Totsl 1,147.974 942,544 828,961 645,810 Net Incomlng resources for the year before Balns / {losses) on Investments (178.703) 608,206 {168.633) 613.528 Galns on investtnent assets (16,684 25,610 (16.684 25.610 Net movement In fvnds (195,387) 633,816 (185,317) 639,138 Fund balances brought forward 1,576,260 942.444 1,542,291 903,153 Fund balances carrled forward Is 1,380,873 1.576,260 1.356,974 1,542,291 All funds were unrestrlcted In the current and prloryear.
Berkeley Castle Charitable Trust Balance sheet For the year ended 31 March 202S Notes Group 2025 Group 2024 Charity 2025 Charity 2024 Flxed assets Tangible asset5 Equlty Investments in group undertakings Investments at market value io li li 885,431 1,002,580 831.183 20,051 357.126 937,705 20,051 375.625 357,126 375,625 1,242.557 1,378.205 1.208,360 1.333,381 Current assets Stock Debtors Cash at bank and In hand 28,180 84,332 491,471 37,400 104.872 554,594 10.131 178,045 302,440 14,419 353.533 210.341 12 Credltors: amounts falling due within one year 13 [439,776 (476,813] (342,OQ2 (369,383) Net current assets 164,207 220,OS3 148,614 208,910 Totsl assets less current Ilabllltles 1,406,764 1,598,258 1,356,974 1,542,291 Creditors: amount5 falllng due after more than one year Provision5 for Ilabllltles 14 (16,250) 9,641) (11,250) (10.748 Net assets 15 1,380,873 1,576.260 1,356,974 1,542.291 Funds ofthe charlty Unrestricted fund5. Charlty general Unrestricted funds- non-charltable tradlng funds 1,356,974 23,899 1,542,291 33,969 1,356,974 1,542,291 Total funds Is 1,380,873 1,576.260 1,356,974 1.542,291 The Trustees have prepared group flnancial statements In accordance wlth section 138 ofthe CharftSes Act 2011. Approved by the board of Trustees and slgned on thelr behalfon 9 October 2025. Charles Wyld
Berkeley Castle Charitable Trust Group sratement of cash flows For the year ended 31 March 2025 202S 2024 Cash generated/(absorbedJ from opera¢ln8 actlvitles Net cash {used in)/provlded by operating actlvltles (35,360) 828,749 Net cash absorbed by operatlngactivltles after taxatlon (35.360) 828,749 Cashflows from Investlngactlvltle5 Dlvidends, interest and rents from Investments Purchase of property, plant and equipment Proceeds from the sale of property, plant and equipment Proceeds from the sale of investments Purchase of investments Net rash used In Investlng actlvltle5 18.919 (48.596} loo 32,728 16,423 [13,272) 16,712 (904,350) 4,545 23,587 24,011 (883,517) Change In cash and cash equlvalents In the reportlng perlod {48,632 54,768 Cash and cash equivalents at the beglnning of the reporting perlod 557,424 612,192 Cash and cash equlvalents at the end of the reportingperlod 08,792 557,424 Reconclllatlon of net Income/(expendlture) to net Cash flow from operatlng actlvltles 2025 2024 Net (expendlture) I Income for the reportin8 period (as per the statement of flnanclal actlvltles) (195,367} 633,816 Adjustments for: Current tax charge Depreciation charges Unreallsed gains on Investments Loss/(proflt) on dlsposal of fixed assets Divldends. Interest and rents from investments Decreasel(In¢rease) in stock Decrease/{Increase) In debtors (De¢rease)/lncrease In creditors Net cash (used In)/ operatlng activltles (1,107) 159,932 16,684 S,717 (18,919) 9,220 20.540 32,040 35,360 (912} 23,806 (25,610) (4,250) (16,712) [17.506) [21,428) 257,545 828,749 Analysts of net debt At l April Z024 At 31 March 2025 Cashflows Cash at bank and Sn hand Cash held as part of Investments Total 554.594 2.830 557,424 C63,123} 14,491 48.632 491,471 17,321 508,792
Berkeley Castle Charltable Trust Notes to the consolidated financial statements For theyearended 31 March 2025 Accounting policles (a) Accountlng conventlon and basis of preparatlon The flnancial 5tatetnents have been prepared In accordance with the Statement of Recommended Practice.. Accounting and Reportlng by Charities preparing thelr accounts In accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland [FRS 102) effective I january 2019 and the Financial Reporting Standard appllcable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practlce as it applies from I January 2022. The Charity constitutes a public beneflt entity as defined by FRS 102. The flnanclal ststements are prepared in sterlin& whSch 55 the functional currency ofthe Charlty. Monetary amounts in these flnanclal statements are rounded to the nearest £1. The flnanclal statements have been prepared under the hlstorlcal cost Conventio with the exceptlon of the investments whl¢h are held at market value. (b) Basls of Consolldatlon The group flnanclal statements consolldate the financial statements ofthe charlty and Charity's wholly owned subsidiary, Berkeley Castle Enterpr5ses Llmlted, for the year ended 31 March 2025. The statement of flnanclal actlvltles (SOFA) and the balance sheet consolidate the Financial statements on a Ilne by line bas15 where approprlate. Details concernlng the subsldlary company, along with its results and financlal posltlon are Set out In note 2. (c) Goln8 concern At the time uf approvlng the fln3ncSal statements the Trustees have a reasonable expectation that the charlty has adequate resources to continue In operational existence for the foreseeable future. Thus the Trustees contlnue to adopt the golng concern basis of accounting in preparing the financlal statements. (d) Income InvestmerLt income and gift aid dorbations are Included In the ftnanclal statements on an accruals basis and include any tax recoverable. Other income 15 recugnised when the group Is entltled to IC Sncludlng any tax recoverable. (e) Resources expended Expenditure15 recorded on the accruals basS5, The cost of Irrecoverable value added tax 15 Included wlth the expense Item to which It relates. Fund ralslng costs compr15e those costs dlrectly attrlbutable to managlng the investment portfollo and ralslng Investment Income. Support costs represent expendlture In the general running of the charlty,. these costs are fully attrlbutablc to charitable activities. Governance costs are dlrectly attrlbutable to the management of the charlty's assets, organisatlonal admlni5tration and compliance with constltutlonal requirements. (fj Llsted Investments Llsted investments are included in the accounts at a value based on their mid-market prlce at the balance Sheet date. Realised gains or105ses are recognised in the perlod by reference to the dlflerence between thelr balance Sheet value and net proceeds from di5P05al In accordance with accountiT]g standards. (g) Unlisted investment5 Unlisted investments are stated at cost less provision for diminution in value.
Berkeley Casde CharAtable Trust Notes to the consolidated flnancial Statements For theyearended31 March 2025 Accountlngpolicles (continued) (hj Depreciatlon Tangible fixed assets are stated at Cost less depreclatlon. Depreciatlon is provided at rates calculated to wrfite off the cost less estimated res5dual value of each asset over its expectsd useful Ilfe, as follow5.. Castle chatte15 and land no depreciatlon Castle contents, flxtures and improvements 2%, 15 % and 25% stralght Ilne basls Garden equlpment 15% stralght line basis Office equipment 15% straight line basts (l) Stocks Stock5 are stated at the lower of cost and net reallsable value. O) Flnanclal Instruments The Charlry ha5 elected to apply the provisions of Sectlon 11 'Baslc Flnanclal Instruments, and Sectlon 12'0ther Flnaneial Instruments Issues, of FRS 102 to all of its flnanclal instruments. Other than where specifically stated all of the charity's flnanclal Instruments are classed as baslc flnanclal Instruments. Flnaneial assets are recognlsed In the Charity's statement of financlal posldon when the Charitybecomes party to the contrartual prov15ions of the Instrument, Flnanclal assets are clas51fied Into 5peclfled categories. The classlflcation depends on the nature and purpose of the financlal assets and15 determlned at the time of recognitlon. BasicJ7nanclal a55ets Basic financial assets, which Include trade and other debtors and cash and bank balances, are inltlally measured at transaction price Including transactlon costs and are subsequently carried at amortlsed cost Using the effective lTrterest Method, unless the arrangement constitutes a flnanclng transaction, where the transactlon 15 measured at the present value of the future receipts discounted at a market rate of Interest. Other financial assets classiFied as 'falr value through the statement of financlal actlvlties, are measured a¢ fair value. Baslcjlnanclal Ilablllties Basic flnanclal liabllSties are initlally recognised at transactjon prlce, unless the arrangement constitutes a flnanclng transactlon, where the debt instrument Is measured at the present value of the future recelpts dlscounted at a market rate of Interest. Other financlal Ilablllties classlfled as 'falr value through the statement of flnancial activitles, are measured at falr value. (k) Pen51on costs Penslon costs for Indlvidual deFined contribution schemes are charged to the statement of flnancial activity Sn the year In whlch they are payable. O) Employee benefits The costs of short-term employee benefits are recognlsed as a liablllty and an expense. The cost of any unused hollday entlt]emEnt is recognlsed in the period in which the employee's servlces are recelved. Termlnatlon benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits, io
Berkeley Castle Charltable Trust Notes to the consolidated financial statement5 For the year ended 31 March 2025 Accountlng pollcfies (contlnued) (m) Funds structure The charity holds unrestricted funds only, which the Trustees are Free to use for any purpose in the fijrtherance of the charltable objects. Unrestrirted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose. Incomlng resources Irom subsldlary The charity has a wholly owned trading subsidiary, Berkeley Castle Enterprises Limited (company number 03306174) which is incorporated in the UK. The prln¢lpal actlvltles are the runnlng of a cafe and souvenffirshop, whlch are open to the public and the hiring out of prernlses for prlvate and commer¢lal functions. A summary oFits tradlng results Is shown below. The relevant pages have been filed with the Reglstrar of Companles. Proflt and loss account 2025 2024 Turnover Cost of Sales and admlnlstratlve expenses Interest recelvable Net profit Amount glft alded to charity Taxation Retalned In subsldlary 435,692 {355.039) 3,821 84,474 [95,651) 1.107 10,070 583,743 [341,837) 3,625 245,531 (251,765) 912 S,322 Fixed assets Current assets Current liabllltles Non current liabilities Netassets 54.248 219,457 {203,862) 25,891 43.952 64,875 379,042 (367,897) 21,998 54,022 li
Berkeley Castle Charltable Trust Notes to the consolidated flnancial statements For theyear ended 31 March 2025 3 Donations and legacles Group 2025 Group 2024 Charity 2025 Charity 2024 Tax reclaim on glft aid donatlon Donations 66,677 42,989 109.666 48,092 563,230 611,322 66.677 138.640 205,317 48.092 814,995 863,087 4 Income from rharltable actlvStles Group 202S Group 2024 Charlty 2025 Charfty 2024 Admisslon5 Gulde book5 Gulded tours Rental Income Fees for use of castle Commissions and other income 357.126 8,671 3,755 27,275 291,196 7,898 6,530 26,244 357,126 8,671 3,755 32,855 29,339 El,167 439.913 291,196 7,898 6,530 31.824 38,611 7.los 383.164 8,167 404.994 7.105 338,973 5 Investment Income Group 2025 Group 2024 Charlty 2025 Charlty 2024 Incorne from quoted serurlt(es Bank interest 10,276 8,643 J8.919 9,783 6,929 16,712 10,276 4,822 15,098 9,783 3,304 13.087 6 Expenditure on raislng funds Group 2025 Group 2024 Charlty 2025 Charlty Z024 Investment managers, fee 2,311 2,311 2.110 2.110 2,311 2,311 2,110 2,110 12
Berkeley Castle Charltable Trust Notes to the consolidated financlal statements Fortheyearended 31 March Z02S Expendlture on charitable actlvltles Group 2025 Group 2024 Charlty 2025 Charlty 2024 Castle shop Tea room Gardens Wedding accommodation Heating and lighting Wages and penslons Repairs and malntenance Bar costs Rent and rates Equipment hlre Marketlng costs (Incl. webslte) Events expenses Guide books Office costs Professl(&nal fees Insurance Bank charges and Interest Sundry Entertaining Corporatiun tax Loss/(profit) on disposal of assets Depreciatlon charge Governance costs [Note 8} 26,739 235 21.984 79,365 56,980 354,711 119.715 13,844 6,760 li 66,407 73,550 4.288 20.691 2,219 93,550 15,996 9,206 1,990 {1,107) 5,717 159,932 12,880 1,145,663 8.718 70 19,555 84,709 59,806 349,455 96,705 13,467 5.56S 44 64,726 55,249 3,056 23,056 3.120 96,806 13,522 6,149 4,007 [912] {4,250) 23,806 14,005 940,434 21.984 19,555 44,195 252,307 114,000 58,328 240,526 93,833 6,760 5.565 41,763 58,308 4.288 11,8S8 2,219 90,718 15.760 8,200 1,467 36,211 37,131 3,056 13,526 3,120 93,980 13,359 5,705 2.685 984 145,639 6.200 826,650 61 9,759 7.300 643,700 Governance costs Group 202S Group 2024 Charlty 2025 Charfty 2024 Independent examlners fees Audit fee5 Other professlonal fees 2,950 2,950 6,000 8,005 14.005 6,000 1,3nn 7,300 9,930 12,880 3,250 6,200 13
Berkeley Castle Charitable Trust Notes to the consolldated financial statements For the year ended 31 March 2025 Expenditure Expenditure for the year Is stated after charglng the following amounts: Employment costs: 2025 2024 Wages and salarles Social security costs Pension 324,549 21,768 8,394 354,711 320,059 20,712 8,684 349,455 Analysis of wages and salarles: Managementand offlce salarles Caretaking I security Guldes Gardeners Cleaners and maintenance Castle shop Weddlng5 busine55 96,312 67,IS9 24.325 34,749 29,762 32.993 69,411 354,711 91,198 63,101 27,893 29,360 28.975 29,155 79,773 349,455 The average monthly headcount wa5 45 staff (2024: 49 staffj. No employees recelved emoluments above £60,000 durlng the current or prlor year. The Trustees receive no remuneratlon for thelr work and do not claim any expenses. The key management personnel recelved no remuneration durlng the year. 14
Berkeley Castle Charltable Trust Notes to the consolidated fjnancial statements Fortheyearended 31 March 2025 10 Fixed assets- group Castle chattels and land Castle contents fixtures and Improvements Garden equlpment Office equflpment Totsl Cost At l Aprll 2024 Additions Disposals At 31 March 2025 10,263 1,259,108 42,070 17,480 1.283,698 48,772 1,098 390 49,480 15,341 5,428 1,098 19,671 1,333,484 48,596 18,968 1,363,112 10,263 Depreclatlon At l Aprll 2024 Provlslon for the perlod Disposals At 31 March 2025 290.906 152,525 11,939 431,492 30.S39 S,096 390 35.245 9,459 2,309 824 330.904 159.930 13,153 477,681 10,944 Net book value At 31 March 2025 10,263 852,206 14,235 8.727 885,431 At 31 March 2024 10,263 968,202 18,233 5,882 1,002.580 Flxed assets - charity Castle chattels and land Castle Garden equlpment Office equipment Total contents xtures and Improvements Cost At l April 2024 Additions Dl8posals At 31 March 2025 10,263 1,088,093 33,572 2,495 1,119,170 48,772 1,098 390 49.480 13,027 5,428 1,098 17,357 1,160,155 40,098 3,983 1,196,270 10,263 Depreclatlon At l Aprll 2024 Provislon for the perlod Dlsposals At 31 March 2025 184,766 138,232 1,786 321,212 30,539 5,096 390 7,145 2,30g 824 222,450 145,637 3,000 365,087 35,245 8,630 Net book value At 31 March 2025 10,263 797,958 14,235 8,727 831,183 At 31 March 2024 10,263 903,327 18,233 5,882 937,705 15
Berkeley Castle Charitdble Trust Notes to the consolldated fmancial statements For the year ended 31 March 2025 IQ Fixed assets (continued) The net book value at 31 March 2025 represents fixed assets used for:. Direct char5table purpose5: 2025 2024 Castle chattels Garden machlnes and equipment Equlpmentand Improvements 10,263 14.235 852,2a6 876,704 8,727 885,431 10,263 18,233 968,202 996,698 5,882 1,002,580 Management and adminlstratlon of the charSty 11 Flxed asset Investments UK and overseas equitles.. 2025 2024 Market value at l April 2024 Acqulsltions at cost Dlsposals at opening book value or c05t for new purchases dSsposed of in the year Unrealised gains on revaluation Market value al 31 March 2025 Cash balance (held by brokers) Investment under management 372,795 16,423 346,761 24,011 [24,143) 25,270 339.805 17,321 357,126 (23,587) 25,610 372,795 2,830 375,625 Hlstorical cost as at 31 March 2025 Securlties Cash 275,615 17,321 Z92,936 283,540 2,830 286.370 The amount ofE339,805 above represents Investments quoted on a recognised securlties exchange. UK equltles, commodlties and Axed Interest securltSes Overseas equltles 92.956 246,849 339,805 92,956 279,839 372,795 Equlty Investment In group undertaklngs 20ZS 2024 Investment in Berkeley Castle Enterprlses LimSted 20,05 1 20,051 16
Berkeley Castle Charitable Trust Notes to the consolldated flnancial statements Fortheyear ended 31 March 2025 12 Debtors Group 2025 Group 2024 Charlty zozs Charity 2024 Trade debtors Berkeley Castle Enterprises Limited RIG Berkeley Wlll Trust Berkeley will Trust VAT Other debt(Trrs 18,618 24,862 8,867 106,D90 4,4BI 30.437 5,415 22,755 178,045 18,349 260.469 36.435 5,555 17.257 15,468 353,533 4,481 30,437 5,41S 25,381 84,332 36,435 5,555 17,257 20,763 104,872 13 Credltors: amounts falllng due wlthln one year Group 202S GrDIIP 2024 Charlty 2025 Charlty 2024 Trade credltors Berkeley Settlement Corporatlon tax PAYE/National Insurance VAT Deferred Income Penslon Accrual. Deposits Berkeley 2002 Settlement loan 10,065 22,701 27,800 37.485 4,813 13,768 22.208 21,356 5,9S6 9,955 4,795 6,145 4,909 4,606 1,558 88,012 1,529 300,000 439,776 1,334 97,725 1,529 300,000 476,813 1,257 15,726 1,529 300,000 342,002 1,187 18,497 1,529 300,000 369,383 I'he loan from the Berkeley 2002 Settlement is repayable on demand but Is expected to be repald over 10 yearg from 2026. No 5nterest Is charged by the Berkeley Settlement on thls loan. 14 Credltors.. amounts falling due after one year Group 202S Group 2024 Charlty 2025 Charlty 2024 Deferred Income 16,250 16,250 11,250 11,250 17
Berkeley Castle Charitable Trust Notes to the consolldated financlal statements Forthe yearended 31 March 202S 15 Analysis of unrestrlcted funds Analys15 of charitable funds General Total 2025 Total 2024 Balance as at l Aprll 2024 Incomlng resources Resources expended Gains and losses Transfer between funds Balance at 31 March 2025 1,542,291 660,328 (828,961] (16,684) 1,542,291 660,328 [828,961) (16,684) 903,153 1,259,338 [645,810) 25,610 1,356,974 1,356,974 I,S42,291 Analysls of tradlng funds General Total 2025 Total 2024 Balance as at l April 2024 IncomSng resources Resources expended Balance at 31 March 2025 33,969 308,943 319,013 23,899 33,969 308,943 3 19,013 23,899 39,291 291,412 296,734 33,969 Total unrestricted funds General Total 2025 Total 2024 Balance at 31 March 2025 1,380,873 1,380,873 1,576,260 16 Related partytransactlons Gr(Jup and Charlty During the year the net effert of Sncome and expendlture transartlons with Berkeley Settlementwas that the Group was charged £23,717 {2024: £228,627). Berkeley Settlement is a related party by vlrtue of a common Trustee between the Berkeley Settlement and the group. At theyear end the group owed Berkeley Settlement £13,768 (2024: £37,485). Durlng the year the net effect of In¢ome and expendlture transartlons with the Berkeley Wlll Trust wa5 that the group pald expenses of £1,074 (2024.. recelved income of £5,113). The Berkeley Will Trust is a related party by vlrtue of a common Trustee between the Berkeley Wlll Trust and the group. At the year-end the group was owed £4,481 (2024.. £5,555} from the Berkeley Will Trust. Durlng the year the net effect of income and expenditure transartions with the RIG Berkeley Wlll Trust was that the group paid expenses of £5,998 [2024.. received income of E45,691). The RIG Berkeley Will Trust, 15 a related party by virtue of a common Trustee between the RIG Berkeley Will Trust and the group. At the year-end the group was owed £30,437 {2024: £36,435) from the RJG Berkeley Wlll Trust. During the year Spetchley Developments Limited donated Enil (2024.. £500,000) as a gift to the Group. Spetchley Developments Limited is a related party by virtue of a common Trustee between Spetchley Developments Limited and the Group. 18
Berkeley Castle Charltable Trust Notes to the consolidated fInanclal statements For the year ended 31 March Z02S 16 Related party transactlons Group and Charlty During the year the Berkeley 2002 Settlement loaned Enll (2024.. £300,000) to the Group. Berkeley 2002 Settlement Is a related party by virtue of a director in the Group belng the beneficiary of the Trust. At the year end the Group owed £300,000 (2024.. £300.000) to the Berkeley 2002 Settlement, Durlng the year Berkeley Castle Enterprlses Limlted donated £95,651 (2024., £251,765) as a gSft and was charged £29,339 (2024.. £38.611) for use of the cast]e by the charlty. Berkeley Castle Enterprises Llmited 15 a fully owned 5ubsidlary of the charlty. At the year-end Berkeley Castle Enterprises Limited owed £106.090 to the charity [2024.. £260,469). Durlng the year a close family member of one ofthe trustees donated £40,000 (2024.. £40,000) to the Group. Another close famlly member purchased £nil ofgoods from the Group (2024.. £104). No amounts were due to or receivable from these persons atyear-end12024.. £nll). There were no donations recelved from trustees durlng the year. 19