Spetchley Gardens Charltable Trust
Trustees, report and financial statements
For the year ended 31 March 2025

Spetchley Garden5 Charitable Trust
Contents
Page
Legal and adminlstrative informatlon
Reportofthe trustees
Independentexaminer's report
Ststsment of flnanclal acdvlties - group
Statement offinanclal activities - charity
Balance sheet
ststement ofcashflows
Notss to the financial statements
10-21

Spetchley Gardens Charitable Trust
Legal and administrative Informatlon
Charlty name:
Spetchley Garden5 Charitsble Trust
Trnstees:
Charles Wyld
Charles Berkeley
Reglnald Heyworth
Patrick Downes
Independent examlner..
David Sedgewlck c/0 Saffery LLP
St Catherine's Court
Berkeley Place
Clifton
Brlstol
BS8 IBQ
Bankers:
National Westmlnster Bank
PO Box 1369
16 The Plaln
Thornbury
Brlstol
BS35 2BF
Solicitors:
Burges Salmon
One Gla55 Wharf
Brlstol
BS2 OZX
Investment manager5:
Trlnlty Brldge Asset Mana¥ement
Wigmore Yard
42 Wigmore Street
London
WIU2RY
Re8lstratlon no,.
1061063
Prlnclpal office:
The Berkeley Castle Estate Office
Berkeley Castle
Berkeley
Gloucegtershlre
GL13 9BQ

Spetchley Gardens Charitable Trust
Report of the trustees
For the year ended 31 March 2025
The Trustees present their report along with the consolidated financial statements of the charity and its subsidiary ftsr the year
ended 31 March 2025. The financial stateEnents complywith the charity's trust deed, the Charities Act 2011 and the Statement of
RecomTnended Practice.. Accountlng and Reporting by Charities 2019 IFRS 102).
Hlstory and con5titutlon
The Spetchley Gardens Charitable Trust was established in 1997 by Mr R l G Berkeley, following his decision that a charitable trust
was the most appropriate vehicle for ensur?ng that Spetchley Gardens are preserved and maintained for posterity and for the
benefit of the public.
The trust was formally established by a deed dated 26 February 1997.
Structure* governance and management
Governing document
The charity is governed by a trust deed and is an unincorporated association.
Appolntment of trustees
The trust deed states that the number of Trustee5 shall be no less than three and no more than five, Ifthe number of Trustees
should fall below three, the remalning Trustees may exercise their power to appoint a new Trustee. The Trustees must always
include at least one male descendant of Captaln Robert George Wllmot Berkeley. Any new Trustee is offered approprSate indurtion
and training,
Under the terms of the trust deed the Trustees have wide discretionary powers relating to the investment and use of the trust
fund, dealing Wlth property, employtnent of staff and all other acts of management in relatt'on to Spetchley Gardens.
Organisation
The Itead gardener is respon5Ible for the day-to-day management of the gardens. Administration, promotion, marketing and
development of the business is managed from the Spetchley Estate Office of the Berkeley and Spetchley Estates.
Rlsk mana8ement
A formal risk 3ssessment in line wlth SORP FRS102 recommendations has been produced. It was adopted at a meeting of the
Trustees on 11 March 2004 and is to be kept on the agenda at fijture meetings on an annual basis to ensure that the matter 15 kept
under revlew and procedures established to manage those rlsks.
The major risks revolve around unforeseen problems occurr5ng durin8 the maSntenance and preservatlon ofthe properties and
gardens. Thls risk is mitigated by taklng high quallty professional adwce concerning the restoratlon work at all stages before and
during the works, Ilaising with the staff on51te and regular trustee meetings to follow up on any issues. A second set of risks
involve nattjral di5a5ters causing damage to the properties and the grounds. These risks are mitigated by ensuring adequate
insurance protection is available and through adequate and timely Tnaintenance of the buildings and their immediate
surroundings.
Statement of trustees, responsibilities
The Trustee5 are respDnsible for preparing the Trustees, report and the financial ststements in accordance with applicable law
and United Kingdom Accounting Stsndards (United Kingdom Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financtal year
which give 3 true and fair view of the state 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 Trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the Tnethods and principles Tn the Charities SORP {FRS102)',
tnake judgements and estimate5 that are rea50tLable and prudent-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements.,
prepare the financial statements on the Eoing cOn￿rn basis unless it is inappropriate to presume that the charity will
continue in business.

Spetchley Gardens Charitable Trnst
Report of the trustees
For the year ended 31 March 2025
The Trustees are responsible for keeping proper accounting records that disclose with reasonable aCCUTacy at any time the
financial position of the charity and enable them to ensure thatthe financial statements comply with the Charities Act 2011,
applicable accounting regulations and the provisions of the trust deed. They are also responsible for safeguarding the a55ets of the
charity and the group and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularitie5.
Oblectlves and activ(tle5
Objectives
The Trustee5 Stand possessed of the trust fund and related income and can apply such funds in the furtherance of the trustr, they
also have the power to accumulate (as permitted by law) the income of the trust fun(L
Subject to these powers, the Trustees shall apply the annual income of the trust fund for the following objects..
a) The promotion of horticulttLre and in particular without prejudice to the generality oFthe foregoinE to maintain and
preserve for the benefit ofthe public those parts of Spetchley Park Gardens, Spetchley, Worce5ter5hire, as are open to the
public.
b) The beneflt of such charlty or charities or for such other charitable purpose or charitable purposes as the Trustees shall
from time to time in their absolute discretion think fit.
Future plans
'rhe alm Is to contlnue to make the garden5 avaSlable to the public in an efficient manner and to ralse funds to embark upon a
repair programme of the bulld structures within the gardens.
Public benefit
Following the passlng olthe Charities Act 2006, subsequently replaced by the Charities Act 2011, there must be an identifiable
beneFIt or benefits arising from the work of all charities, and svch benefits must be to the public or a Section of the public. The
Trustees confirm that they have referred to thc Charity Commission's guidance on public benefit when reviewing the trust's aims
and objectives and in planning future activities.
No public were excluded from those parts af the gardens that are open and dlsabled acce55 15 available where pract5cable. Those
working for the trust are rernunerated, but there are otheThryse no private benefits.
It can therefore be seen from this, and from other informadon Sn thls repo¢ that the work of the trust beneflts the public.
Achlevements and performance
Number of visitors in YE25 Increased by 7% to 22,050 {2024.. 20,561) whlch Is largely responsible For the Increase in admission
Incotnc of 90/0 to £133,797 IE122,843). The events income has reduced slightly due to Dnly having Dn Easter in the year compared
to the prior year which saw tWD Easter events. A new agreement was taken out with a new catering cornpany on a profit sharing
basis, which resulted in now profit being made and as such as new caterer has started,
Financial review
There is a deficit for the year of£46,OB412024'. surplus £166,075) which, added to the funds brought forward, give5 total funds of
£2,032,306 [2024.. £2,078,390) carried Forward.
The deficit of £46,084 compared to a surplus of £166,075 in the prior year has been driven a reduction in major donations
received frotn Spetchley Developments Limited, a large increase in repairs as this year has seen the renovation of Hol]ybush
Cottage and repairs for Gardeners Cottage and 2 Swinesherd Cottages. Wages has seen an increase with the agreed Estate
percentage increase and national rniniTnum wage Increases. Works are also continuing on garden projerts which this year has seen
major wall repairs, tree surgery and works on the new garden, Miss jullet
Investment policy and return5
There are no restrictions on the charity'5 power to invest and the Trustees have puwer to delegate discretionary powers of
investment to an investment manager. The charity has adopted a balanced total return policy for its investment income, and a
strategy and risk profile is agreed annually with the investtnent tnanager. The investment performance is reviewed via the
manager's quarterly report5 and the Trustee5. or their representatives, meet with the manager annually to discuss this
performance.

Spetchley Gardens Charitable Trust
Report of the trustees
For the year ended 31 March 2025
The Trustees intend that the real value of their assets be maintained and enhanced over the long term by investment in a portfolio
comprtsed of equities, fixed income stocks and cash. TFte investment managers have been instrurted to manage a diversified
portfolio of suitable investments on a discretionary basis.
As at 31 March 2025, the investment Ioss for the year was £10,253 (2024: gain £19,695).
ReSe￿S policy
At the year end the group held unrestricted funds of £1,483,141 (2024.. £1,515,473) and £549,165 (2024- £562,917) in restricted
funds.
The Trustees have reviewed the funds of the charlty and consider that free reserves of between £200,000 and £300,000 is a
suitsble level to enable the Trustees to tontinue to fund management, administration and support costs and cover any unplanned
emergency repairs. Of the total unrestricted funds held of £1,483.141. £765,053 are considered to be realisable and the balance of
£718.088. which relatss to fixed assets, are consSdered unrealSsable at the balance sheet date. Full details are shown Sn note 15 of
the accounts.
RernUne￿ts0n of key tnanagement personnel
The key management personnel are not paid by the charlty butare remunerated through related entlljes.
Approved by the Trustees and slgned on their behalf by.,
Charles Wyld
9 October 2025

Spetchley Gardens Charitable Trust
Independent exarniner's report to the trustees
For theyear ended 31 March 2025
I report to the charitytrustee5 on my examination of the consolidated accounts of the Group comprising the Spetchley Gardens
Charitable Trust ['the Trust,) and its subsidiary undertaking for the year ended 31 March 2025.
Respectlve respon5Tbilities of trustees and exarnlner
As the trustees of the Trust you are responsible for the preparation of the con501idatsd accounts of the Group in accordance wth
the requirements of the Charities Act 2011 ['the ACV) 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 of my 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)[bJ
ofthe 2011 ACL
Basts of Independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination
includes a review of the accounting records kept by the charity and 3 comparison of the accounts presented with those records. It
also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees
oncerning any such matters. The procedures undertaken do not provide all the evidence that would 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 limited to those
matters set out In the statement below.
Independent examiner's staternent
Slnce the Trust's gross IncDme exceeded £250,000 your examiner must be a member of a body listed in sectiun 145 of the 2011
Act. I confirm that l am qualified to undertake the exarnination because l am a member of Association OF Chartered Certified
Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention In connection ￿th the examSnation giving
e cause to believe..
accounting records with respect to the Trust were not kept as required by section 130 ofthe 2011 Act and with respect
to its subsidlaries 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 concernlng the form and content of accounts set out in the
Charities (Accounts and Reports] Regulations 2008 other than any requirement that the accounts give a'true and fair
view, which 15 not a matter consldered as part of an Independent examination,, or
the accounts have not been prepared in accordance with the methods and prlnclples of the Statement of Recommended
Practice for accounting and reporting by charities applicable to charitie5 preparing thelr accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic ol Ireland QFRS 102).
I confirm that there are no other matters to which your attentior) should be drawn to enable a proper understanding of the
accounts to be reached.
David Sedgwick
Saffery LLP
St Catherine's Court
Berkeley Place
Clifton
Bristol
BS8 IBQ
Date:

Spetchley Gardens Charitable Trust
Consolidated statement of financial activities
Fortheyear ended 31 March 2025
Notes
2025
Total
nds
2024
Total
funds
Unrestricted
nds
Restrlcted
funds
Income from
Donations and legacies
Charitsble activlties
Investments
2S5.730
165,894
51.226
255.730
165,894
51.226
355,745
153.287
61,382
Total
472,850
472.850
570,414
Expendlture on
Ralslng funds
Charitable activities
1,566
493,363
1,566
507,115
1.421
422,613
13,752
Total
494,929
13,752
508,681
424,034
Net incomlng resources for the year before galns / Oosses)
on Investments
(22,079)
(13,752)
135,831)
146,380
Gains on Investment a55ets
(10,253)
(10,253)
19,695
Net movement in funds
(32,332)
(13.752)
(46,084)
166,075
Fund balances brought Forward
1,515,473
562,917
2,078,390
1,912,315
Fund balances carrled forward
Is
1.483,141
549.165
Z,032,306
2,078,390
All funds were unrestricted In the current and prlor year.

Spetchley Gardens Charitable Trust
Charity statement of financlal activltles
Fortheyear ended 31 March 2025
Notes
202S
Total
funds
2024
Total
funds
Unrestricted
funds
Restrlcted
funds
Income from
Donatfions and legacies
Charltable actlvldes
Investments
255,730
165,894
51,226
255,730
165.894
51,226
355,745
153,287
61.382
Total
472,850
472.850
570,414
Expendlture on
Ra15ing funds
Charltable actlvltles
1,566
492,745
1,566
506,497
1,421
422,399
13,752
Total
494,311
13,752
508,063
423,820
Net Incomlng resources for the year before galn5 1 (105ses)
on Investments
(21,461)
(13,752)
(35.213)
146,594
Gains on investment a55ets
(10,253)
(10,253)
19,695
Net movement In fvnds
(31.714)
(13,752)
(45.466)
166.289
Fund balances brought forward
1,517,537
562,917
2,080,454
1,914,165
Fund balances carrled forward
14
1,485,823
549,165
2,034,988
2,080,454
All funds were unrestricted in the current and prlor year.

Spetchley Gardens Charitable Trust
Balance sheet
For the year ended 31 March 2025
Notes
Group
2025
Group
20Z4
Charity
2025
Charity
Z024
Flxed assets
Tanglble assets
Equity Investments in group undertakings
Investments at market value
io
li
li
1,267,253
1,287,483
1,267,254
1,287,483
244,080
1,511,333
255,431
1,542,914
244.OBO
1,5 11,335
255,431
1,542,915
Currentassets
Stock
Debtors
Cash at bank and In hand
1,268
23,826
606,954
1,126
13,052
582,498
1,268
26,507
606,954
1,126
15,115
582.498
12
Credltors., amounts falllng due within one year
13
111,075)
61.200)
[111.07S
61.200)
Net current assets
520,973
535,476
523,654
537,539
Total assets less current liabilltles
2,032,306
2,078,390
2,034,989
2,080,454
Funds ofthe charlty
Unrestricted funds . general
Unrestricted funds designated
Restrlcted funds
882,302
600,839
549,165
1,215.473
300.000
562.917
884,984
600,839
549,165
1,217,537
300,000
562,917
Total fvnds
14
2,032.306
2,078,390
2,034,988
2,080.454
The Trustees have prepared group ftnanclal statements in accordance with sectlon 138 of the Charlties Act 2011,
Approved by the board ofTrustees and slgned on thelr behalf on 9 October 2025,
Charles Wyld

Spetchley Gardens Charitable Trust
Group statement ofcash flows
For the year ended 31 March 2025
2025
2024
Cash generated/(absorbed) from operatlng actlvltles
Net cash (used in)/provlded by operatlng actlvltles
{19,841)
114,201
Net cash absorbed by operatlngactivlties after taxatlon
{19.841)
114,201
Cashflows from Investing activities
Dlvsdends, Interest and rents from investments
Purchase of property, plant and equipment
Proceeds from the sale of properry, plant and equlpment
Proceeds from the sale of investments
Purchase of investwnents
Net cash used in investlng actlvltles
51,226
(8,029)
61,382
[975)
6.333
17,718
17,790
66,668
13,592
7,987
48,802
Change In cash and cash equlvalents in the reportlng perlod
28,961
180,869
Cash and cash equivalents at the beglnnlng of the reportlng perlod
584,381
403.512
Cash and cash equlvalents at the end ofthe reportlng perlod
613,342
584.381
Reconclllatlon of net Income/(expendlture) to net cash flow from operating actlvltles
2025
Z024
Net (expendlture) / Inrome for the reportlng perlod (as per the Statement of financial
actlvltles)
(46,084}
166,075
Adjustments for:
Depreclation charges
Unreallsed gains on investments
Loss/{profit) on dlsposal of flxed assets
Dlvldends, Interest and rents from Investments
(Increase)/decrease in stock
Decrease/{Increase) In debtors
Increase/[decrease) in credltors
Net cash (used In)/ operatAng actlvltles
26,897
10,253
1,362
[51,226)
{142)
(10,774)
49,873
19.841
27,517
[19,965)
{6,104)
(61,382)
325
14,403
6,668
114,201
Analysls of net debt
At l Aprll
2024
At31 March
Z025
Cashflows
Cash at bank and In hand
Cash held as part of investments
Total
582,498
1,883
S84,381
24,456
4,507
28,963
606,954
6.390
613,344

Spetchley Gardens Charitable Trust
Notes to the financlal ststements
Fortheyearended 31 March 2025
Accountlng policies
{aJ Accountlng convention and basls of preparatlon
The financial statement5 have been prepared in accordance with the Statement of Recommended Prartlce.. Accounting and
Reporting by Charlties preparing their accounts in accordance with the FlnaThcial Reporting Standard applicable In the UK
and Republic of Ireland (FRS 102) effectlve l January 2019 and the Financial Reporting Standard applicable in the United
Kingdom and Republlc of Ireland (FRS IQ2) and the Charit5es Art 2011 and UK GenerallyAccepted Practlce as It applie5
from I lanuary 2022.
The Charlty constltutes a publlc benefit entlty as defined by FRS 102.
The financial statement5 are prepared in sterlin& whlch Ss the functlonal currency of the Charlty. Monetary amounts In
these financlal ststements are rounded to the nearest £1.
The financial statements have been prepared under the hlstor5cal cost convention. wlth the excepdon of the Investments
which are held at market value.
{b) Basls of Consolldatlon
The group flnanclal statements consolldate the flnanclal statements of the charlty and charlry's wholly owned subsldSaryi
Berkeley Castle Enterpr15es Limlted, for the year ended 31 March 2025. The statement of ilnanclal activltles (SOFA) and
the balance sheet consolldate the financSal statements on a Ilne by line basis where appropriate, Deralls concerning the
subsldlary companyi along wlth Its results and flnanclal posl¢lon are set out in note 2.
(c) Golng eoncern
At the tlme ofapproving the financlal statements the Trustees have a reasonable expectation that the charlty has adequate
resource5 to contlnue in operational exlstence for the Foreseeable future. Thus the Trustees contlnue to adopt the golng
concern basi5 0Faccounting in preparfing the Financlal statements.
(d) Income
Investment Income and gift ald donatSons are included In the flnanclal statements on an accruals basis and Include any tax
recoverable. Other Income is recognised when the group is entitled to IL including any tax recoverable.
(e) Resources expended
Expenditure Is recorded on the accruals basls. The cost of Irrecoverable value added rax Is Included with the expense Stem
to whlch It relates.
Fund ralslng costs cornprise those costs dlrectly attributable to managlng the Investment portfolio and ralslng Investment
Income.
Support costs represent expenditure In the general runnlng of the charlty,. these costs are fully attributable to charitable
artivities.
Governance costs are direct]y attrlbutable to the management of the charity's assets. organi5ational admlnlstratlon and
¢ompllance wlth constitutional requirements.
Grants payable are payments made to thlrd parties in the ￿rt￿erance of the charttable objectives of the trusL The
payments are recognlsed when there Is a constructive obligatlon resulting In payment being unavoldable.
(fj Llsted Investment5
Listed Investments are included In the accounts at a value based on their mid-market prlce at the balance sheet date.
Reallsed galn5 or losses are recogni5ed in the perlod by reference to the difference between their balance sheet value and
net proceeds from disposal In accordance with accnunting standards.
(g) Unllsted investments
Unllsted investments arp stated at cost less prov151on ft>r diminution in value.
io

Spetthley Gardens Charitable Trust
Notes to the financlal statements
Forthe year ended 31 March 2025
Accounting policies [contlnued)
(h) Depreciation
It Is the charlty's pollcy not to provide depreciadon on freehold properties. The bulldfings are maintained to a high
5tsndard and therefore the Trustees consider that the Ilves ofthe buildings are so long and residual value so greatthat
depreciation is immaterial on an annual and cumulative basis.
Depreciation is calculated to write off the cost of fixed assets over their expectsd useful life. It has been provided on a
straight-line basis at the following rates..
Leasehold land
Car park. welcome centre, cartshed and lake
Plant and maehlnery
the length of the lease
the length of the lease
A ￿1] year's depreclatlon is charged In rhe year of acqulsltton and none In the year ofdlsposal.
(l) Flxed assets
Fixed assets are Included in the accounts at rhefir net book value. There Is no 'de-mlnlmls' limit for tapltalislng Items.
The charlty has been granted a 99-year lease of Spetchley Gardens. This lease wlll explre In 2096 and the rent is nomlnal.
The Trustees have considered whether this lea.se ha5 any value. In view of the fact that the charity Is responsible for the
maintenance ofthe gardens, the garden5 are the object ofthe charity and these obligations are onerous, the Tru5tee5 do
not consider that the lease has a value. No profe5s5onal valuation has been Sought because the conventSonal valuation
approaLhes are notappropriate and costs of obtalnlng a valuation would be onervus compared with the beneflt.
Ul Stocks
Stock5 are stated at the lower of cost and net realisable value.
(k) Flnanclal Instruments
The Charlty has elected to apply the provisions of Sectlon 11 'BasSc Financial Instrumcnts, and Secdon 12'0ther Flnancial
Instruments Issues, of FRS 102 to all of its financi31 instruments. Other than where 5peclfically stated all of the charl￿S
flnancial instruments are classed as basic financial Instruments.
Flnanclal assets are recognlsed in the Charlty's statement of financial position when the Charlty become5 party to the
contractual pro￿$10￿$ of the InstrumenL
Flnanclal assets are classlfled Into speclfled categories. The classlflcatlon depends on the nature and purpose of the
ftnanclal assets and is detemlned at the tlme of recognition.
Baslcflnancitil tissets
Baslc financial asset.s, whl¢h Include trade and other debtors and cash and bank balances, are Inltlally measured at
transaction price including transaction costs and are subsequently carried at amort15ed cost using the effective Interest
method, unles5 the arrangement constitutes a financlng transact10￿ where the transaction 15 tneasured at the present
value of the future receipts dlscounted at a market rate of interest. Other financlal assets classified as 'falr value through
the statement of financial actlvltles, are measured at fair value.
Baslcfinanclal Ilobllltles
Basic financial liabilities are Inltially recognised at transaction prlce, unless the arrangement constltutes a financing
transactiorn where the debt instrument is measured at the present value ofthe future receipts dlscounted at a market rate
of interest. Other flnaThcial liabilities classified as 'fair value through the statement of flnancial activities. are measured at
fair value.
li

Spetchley Gardens Charltable Trust
Notes to the financlal statements
For the year ended 31 March 202S
Accountlng policies (contlnued)
01 Pension costs
Pension costs for individual defined contributlon schemes are charged to the statement of financlal attivity ITr the year in
whlch theyare payable.
(m) Employee beneflts
The costs of short-term employee benefi'ts are recogntsed as a liability and an expense.
The cost of any unused hollday entitlement is recogn5sed In the perlod In whlch the employee's servlces are receSved.
Termlnatlon beneflts are recogn15ed Immediately as an expense when the company Is demonstrably commltted to
termlnate the employment of an employee or to provlde termlnation beneflts.
(n) Funds structure
Unrestricted fund5 are available for use at the dlscretion of the Trustees in furtherance of the general oblectlves of the
charity.
Restrlcted funds are subjected to restrictlons on thelr expendlture imposed by the donor.
Incomlng resources from subsidlary
The charlty has a wholly owned tradlng subsldlary. Spetchley Gardens Enterpr15es Limited (company number 09216384)
which is Incorporated In the UK. The company15 riot currently tradlng.
A summary of Its trading results 15 shown below. The relevant pages have been filed with the Reglstrar of Companies.
Proflt and loss account
2025
Z024
Turnover
Cost of sales and administratlve expenses
Taxatlon
Net loss
(618}
(214)
618
214
Flxed assets
Current assets
Current Ilabllltles
Netassets
2.682
2,682
2,064
12

Spetchley Gardens Charltable Trust
Notes to the financial statements
For the year ended 31 March 2025
12

Spetchley Gardens Charltable Tn￿t
Notes to the flnancial statements
Fortheyearended 31 March 2025
3 Donations and legacles
Group
2025
Group
Z024
Charity
2025
Charlty
2024
Donations
Gift aid
240.051
15,679
255,730
340,316
15.429
355.745
240,051
15.679
255.730
340,316
15.429
355,745
4 Income from charltable actlvltles
Group
2025
Group
2024
Charlty
2025
Charlty
2024
Enrrance fees
Sale ofgarden produce and plants
Fees for hlre
M15cellaneous Income
Scooter hlre
133,797
15,926
10.738
4,204
1,229
165.894
122,843
19,404
6,086
3,781
1.173
153,287
133,797
15,926
10,738
4,204
1,229
165,894
122,843
19,404
6,086
3,781
1,173
153,287
5 Investment Income
Group
2025
Group
2024
Charity
2025
Charlty
2024
Rental income
Income from quoted securlties
Bank Interest
36.953
6,493
7,780
Sl,226
5Q,017
6,515
4,850
61,382
36,953
6,493
7,780
51,226
50.017
6,515
4,850
61,382
6 Expendlthre on ralslng funds
Group
2025
Group
2024
Charlty
2025
Charity
Z024
Investment managers, fee
1,566
1,566
1,421
1.421
1.566
1.566
1,421
1,421
13

Spetchley Gardens Charitable Trust
Notes to the flnanclal statements
Fortheyearended 31 March 2025
Expendlture on charitable activities
Group
2025
Group
2024
Charity
2025
Charity
2024
Repairs to bulldings and grounds
Repalrs and runnin¥ cost of equipment
Hire of equipment
Plants and seeds
Rent and rates
Heat and light
Constjmable garden supplies
Wages and salaries
Depreciation
Loss/[proflt} on dlsposal of ftxed assets
Telephone
Professlonal fee5
PR and marketing
Insurance
Bank charges
stsff tralnlng and welfare
Sundry
Taxatlon
Governance costs [Note 8)
180,145
4,691
834
3,077
3,678
20,451
8,538
202,868
26,897
1,362
2,362
799
8,828
4,470
305
6,217
24,718
24
6,851
507,115
119,129
5,074
779
3,619
2,024
21,943
11.185
184,024
27,517
[6,104]
2,506
2,875
11.604
3,634
301
3,704
21,126
180,145
4.691
834
3,077
3.678
20.451
8,538
202.868
26.897
1,362
2,362
799
8,828
4,470
305
6,217
24,718
24
6,233
506,497
119,129
5,074
779
3,619
2,024
21,943
11,185
184,024
27,517
(6.104)
2.506
2,87S
11,604
3.634
301
3.704
21.126
7,673
422.613
7,459
422,399
Governance costs
Group
20ZS
Group
2024
Charlty
2025
Charfjty
2024
Office expenses
Independent examination
Professional fees
948
2,685
3,218
948
2,685
2,600
6.233
2,500
5.173
7,673
2,5QO
4,959
7,459
Analysls of staff costs
Group
2025
Group
Z024
Charlty
2025
Charlty
2024
Wages and salarles
Penslon
Other costs
198,434
2,141
2.293
202.868
179,590
2,141
2,293
184,024
198,434
2,141
2,293
202.868
179,590
2.141
2,293
184,024
The average monthly head count was 12 staff [2024., 9 staffj.
The Truscees re¢elve no remuneration for their work and do not ¢lalm any expenses.
There were no employees durlng the current or prior year who received employee beneflts [excluding employer
pension costs) Dfmore than £60.000.
The key management personnel received no remuneratlon during the year.
14

ryJ e

Spetchley Gardens Charitable Trust
Notes to the flnancial statements
Forthe yearended 31 March 2025
11 Fixed asset investments
2025
2024
Unlisted investments
Investment in Spetchley Garden5 Charltable Trust
Llsted investments
UK and overseas equities.,
Market value at l April 2024
Acquisitions at cost
Dlsposals at openSng book value or cost for new Purchases
disposed of in the year
Unrealised galns on revaluation
Market value at 31 March 2025
Cash balance [held by brokers)
Investment under management
253,548
7,987
233,511
17,790
[12.006)
11.839
237,690
6,390
244,080
[17,718)
19,965
253,548
1,883
255,431
Hlstorlcal cost as at 31 March 202S
Securltles
Cash
159,782
6,390
166,172
163,818
1,883
165,701
The amount of £237,690 above represents Investment5 qunted on a recogn15ed 5ecurltles exchange.
UK equities, commodlties and fixed Interest 5ecurltles
Overseas equltles
88,578
149,112
237,690
94,326
159,222
253,S48
Not one Investment Is worth more than IO% of the total portfollo value.
17

Spetchley Gardens Charitable Trust
Notes to the tinanclal statements
Fortheyearended 31 March 202S
12 Debtors
Group
2025
Group
2024
Charlty
2025
Charity
2024
Trade debtors
Spetchley Garden Enterprises Llmitsd
Berkeley Farms Limited
VAT
Prepayments and accrued income
1,124
3,275
1,123
2,682
3,274
2,064
3,011
3,761
3,005
15,115
3,011
3,761
3,005
13,052
16,361
6,341
23,826
16,361
6.341
26,507
13 Credltors: amounts falllng due wlthln one year
Group
2025
Group
2024
Charlty
20Z5
Charlty
2024
Trade credltors
Berkeley Settlement
Berkeley Will Trust
Berkeley Castle Enterprlses Limited
Accruals and deferred Income
Other credltors
77,498
12,533
299
19,102
14.684
77,498
12,533
299
42
13,024
7,679
111,075
19,102
14,684
42
13,024
7,679
111,075
20.035
7.379
61,200
20,035
7,379
61.200
14 Analysis of charltable funds
Unrestrlcted
funds
Restrlcted
funds
Total
funds
2025
Total
funds
2024
Fund5 at l April 2024
Incomlng resources
Resources expended
Galns and losses
Funds at 31 March 2025
1,517,537
472,850
(494,311}
10,253
1,485,823
562,917
2,080,454
472,850
[508,063)
10,253
2,034,988
1,914,165
570,414
[423,820)
19,695
2,080,454
(13,752)
549,165
Restricted Funds are recelved In respect of Spetchley Revlval belng funds to bring the gardens back to their former
presentation.
Unrestrlcted funds Include a deslgnated ￿nd of £600,839 for planned garden projects whlch are ¢ondnuSng In 2026.
15 Analysls ofgroup net assets between funds
Unrestrltted
fuDds
Restrlcted
funds
Total
funds
2025
Total
fuDds
Z024
Tangible fixed assets
Investments
Net current assets
Funds at 31 March 2025
718,088
244,08Q
520.973
1.483,141
549,165
1,267,253
244,080
520,973
2,032.306
1,287.483
255,431
535.476
2,078,390
549,165
The tangible a55ets wlthin restrlcted funds are being depreciated over the remainder of the lease.
IB

Spetchiey Gardens Charltable Trusl.
Notes to the financial statements
Fortheyearended 31 March 2025
16 Related party transartlons
Group and Charlty
During the year the net effert ofincome and expend5ture transactions with Berkeley Settlement was that the group and
charity had expenditure of£86.973 (2024.. £7S,062}. Berkeley Settlement is a related party by virtue of a common Trustee
between the Berkeley Settlement and the group. At the year end the group and charity owed the Berkeley Settlement
£12,S33 (2024.. £14,684].
Durlng the year the net effect of the Income and expendlture transactions wlth Berkeley Will Trust was that the group
received income of£159 [2024.. incurred expendlture of £134)- At the year end the group owed the Berkeley Will TrusL a
related party by virtue of a common trustee of the sroupi £299 (2024.. £140).
Durlng the year Spetchley Developments Llmited donated £200.000 [2024.. £300,000) as a gift to the Group. Spetchley
Developments Limlted is a related party by virtue of a common Trustee bettveen Spetchley Developments L5mlted and rhe
Group,
Spetchley Gardens Enterprlses Limited Is a wholly 0￿ed subsldiary of the charlty. At the year end Spetchley Gardens
Enterprises Limlted owed £2,682 [2024.. £2,064).
At the year end the group owed Berkeley Castle Enterprlses Llmlted, a related party by vlrtue ofa common trustee of the
group, £42 (2024.. £nll).
19

Spetchley Gardens Charitable Trust
Notes to the financial statements
Fortheyearended 31 March 2025
18 Comparatlve con5011datEd statement of financial actlvldes
2024
Total
nds
Unrestricted
fund5
Restrlcted
funds
Notes
Income from:
Donations and lega¢les
Charltable artlvltles
Other trading activltles
Investment Income
335.745
153,287
335.74S
153,287
61,382
61,382
Total
550,414
550,414
ExpendltUTe on..
Ralslng funds
Charltable actfivltles
1,421
404,716
1,421
422,613
17,897
Total
406,137
17,897
424,034
Net expendlture before105ses on Investments
144,277
(17,897)
126,380
Galns on Investment asset5
19,695
19,695
Net movement In tunds
163,972
{17,897)
146,075
Total funds brought forward
1,331,501
580.814
1,912,315
Total funds carrled forward
1,515,473
562,917
2,058,390
20

Spetchley Gardens Charltable Trust
Notes to the flnancial statements
For the year ended 31 March 2025
19 Comparative charity statement of financlal actlvitles
2024
Total
funds
Unrestrlcted
fijnds
Restricted
fund5
Notes
Income from:
Donations and legacies
Charitable activities
Investment Income
355.745
153,287
61.382
355,745
153,287
61,382
Total
570,414
570,414
ExpeDdlture on:
Ralslng funds
Charitable actlvltles
1.421
404.502
1,421
422,399
17,897
Total
405,923
17,897
423.820
Net Income/{expendlture) before losses on Investments
164,491
[17,897}
146,594
Galns on Investment assets
19,695
19,695
Net movement In funds
184,186
(17,897)
166,289
Total funds brought forward
1,333,351
580,814
1,914,165
Total fvnds carrled forward
14
1.517,537
562,9 17
2.080,454
21