|||||THE STOWE|HOUSE PRESERVATION TRUST|HOUSE PRESERVATION TRUST|HOUSE PRESERVATION TRUST|
|---|---|---|---|---|---|---|---|
|||||tA Company
Limited
by Guarantee}||||
|||||ADMINISTRATIVE
DETAILS||||
|Com|an
Number:||||incorporated
in England||8 Wales on 30June 1997|
||||||Company
number
3394958|||
|Re istered||Charit|Number:||1066272|||
|Board ofTrustees|||||Andrew W M Fane (Chairman)|||
||||||John R C Arkwright"|||
||||||Richard
Broyd *|||
||||||*|||
||||||Jeffrey P Haworth|||
||||||Mark A Jackson-Stops|||
||||||Robert C Morley|||
||||||Annabel
Westman
Simon Creedy Smith
**|**"||
||||||Julie Brunskill|||
||||||David Adshead
(Resigned
Elizabeth de Burgh Sidley||14September 2022)
**|
||||||Mark Herrod|||
|Secretarer:|||||Mark A Jackson-Stops|||
|Re istered||Office and Princi||al Office:|Stowe House|||
||||||Stowe|||
||||||Buckingham|||
||||||MK18 5EH|||
|Inde|endent|Auditor:|||Saffery Champness|LLP||
||||||71 Queen Victoria Street|||
||||||London EC4V4BE|||
|Bankers:|||||Barclays Commercial|Bank||
||||||Oxford Team|||
||||||PO Box858, Wytham|Court||
||||||11West Way|||
||||||Oxford OX2 OXP|||
|Chief|Executive Officer:||||SWales|||
|Finance Officer:|||||M Greaves|||
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|Report ofthe Trustees|Report ofthe Trustees||
|---|---|---|
|Independent|Auditor's
report||
|Consolidated|Statement|of Financiai Activities|
|Consolidated|and Charity|Balance Sheet|
|Consolidated|Statement|ofCash Flow|
|Notes to the|Consolidated|Accounts|
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|Project||||Cost|
|---|---|---|---|---|
|Phase
1|||||
|North
Front Colonnades||||E6,238,663|
|Phase 2|||||
|Central
Pavilion||||F6,444,297|
|Marble Saloon||||8705,463|
|Phase 3|||||
|Library,
Ante-Library|and Pilot Study|||E1,049,460|
|East Pavilion
Exterior||||E3,425,783|
|West Pavilion
Exterior||||E2,464,178|
|Interiors|||||
|Music Room||||2759,556|
|Blue Room, East Corridor||including|Fame and Victory|F761,020|
|Visitor Centre||||E1,360,850|
|North
Hall including|statury|||2767,604|
|Misc||||897,014|
|External|||||
|including
balustrade|and statuary|||f.762,147|
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|lncorAB BAd expenditure|accoUfl't||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|31-Mar|31-Mar|
||||Funds|Funds|2022|2021|
|||||E|||
|Incoming resources|||||||
|Incoming resources
from|generated|funds|||||
|Donations
Bndlegacies|||18,168|142,826|160,994|725,480|
|income from Charitable|activites||||||
|Grants for restoration||||171,472|171,472|125,000|
|Other trading activities|||||||
|Income oftrading
subsidiary|||168,038||168,038|11,491|
|Rent receivable|||155,162||155,162|155,162|
|Furlough
and CRF Income||||19,432|19,432|123,260|
|Misc Income|||700||700|5,103|
|Income from Investments|-interest|receivable|125||125|160|
|Total income and endowments|||342,193|333,730|675,923|1,145,656|
|RBSOUrces expended|||||||
|Expenditure
on raising funds|||||||
|Cost oftrading
subsidiary|||97,656|5,398|103,054|104,196|
|FundraIslng||||||7,020|
|||||5,398|103,054|111,216|
|Expenditure
on Charitable|activities||193,787|351,812|545,599|529,782|
|Other expenditure
-taxation||||||(2,332)|
|Total resoUrces expended|||29'I,443|357,210|648,653|638,666|
|Net income/ (expenditure)|||50,f50|(23,480)|27,270|506,990|
|Net movement
in funds|||50,750|(23,480)|27,270|506,990|
|Reconciliation
offunds|||||||
|Total funds brought forward|||2,232,198|20,040,929|22,273,127|21,766,137|
|Total funds carried forward|||2,282,948|20,017,449|22,300,397|22,273,127|
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||||||2021|
|---|---|---|---|---|---|
|Cash flows from operating|activities:|||||
|Net cash provided
for operating
activities||||||
|Cash flows from investing|activities:|||||
|Deposit interest received||||125|160|
|Payments
to restore heritage|assets|||(222,482)|(1,171,326)|
|Net cash provided
used in|investing|activities|||(1,171,166)|
|Change
ln cash and cash equivalents||ln the||||
|the reporting
period||||(26,550)|(125,250}|
|Cash and cash equivalents|at the beginning||of|||
|the reporting
period||||87?,886|1,003,136|
|Cash and cash equivalents|at the end of the|||||
|reporting
period|||||877,886|
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||||NOTES TO THE CONSOLlDATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2022|||
|---|---|---|---|---|---|
|Summarlsed|Statement||ofFinancial Posltton ofSHEL at 31 March 2022|2022|2021|
|Current assets||||152,786|121,648|
|Creditors: Amounts||falling|due within one year|||
|Net assets|||||59,105|
|Share capital|||||2|
|Reserves|||||59,103|
||||||59,105|
|Staffcosts||||||
|No employees|were|paid|in excess of260,000per annum.|||
|Total Staff Costs were:||||2022|2021|
||||||F|
|Salanes||||133,410|143,613|
|Social security|costs|||10,874|11,672|
|Pension costs||||9,729|10416|
||||||165,701|
||||||2022|2021|
|---|---|---|---|---|---|---|
||Charitable
expenditure||comprises:||F|F|
||Depreciation
ofcompleted|||phases ofthe restoration|359,090|366,767|
||Support costs||||174,421|152,815|
||Governance costs||||12,088|10,200|
||Support costs includes:||||||
||Salaries - permanent|staff|||90,199|109,210|
||Other project costs||||3,480|4,049|
||Maintenance
costs||||69,988|26,734|
||Administration
costs||||10,754|12,822|
||||||174,421|152,815|
|6)|Net incomel(Expenditure)|||for the year is stated after charging:|||
||||||2022|2021|
||||||F|E|
||Depreciation||||359,090|366,767|
||Auditor Remuneration|-|all|audit services|12,688|10,200|
|7)|Heritage assets|Heritage assets||||
|---|---|---|---|---|---|
||||Completed|Current||
||||Restoration|Restoration|Total|
||Cost||E||F|
||As at 1 April|2021|24,836,035|1,434,396|26,270,431|
||Restoration|work done in the year||222,482|222,482|
||Disposai|||||
||As at 31 March 2022||24,836,035|1,656,878|26,492,913|
||Depreciation|||||
||As at 1 April|2021|4,625,327||4,625,327|
||Charge for the year||344,004||359,090|
||Disposal|||||
||||4,969,331|15,086|4,984,417|
||||19,866,704|1,641,792|21,508,496|
||||20,210,708|1,434,396|21,645,104|
|Year|to|31|March|2018|108,196|
|---|---|---|---|---|---|
|Year|to|31|March|2019|514,050|
|Year|to|31|March|2020|332,433|
|Year|to|31|March|2021|1,171,326|
|Year|to|31|March|2022|222,482|
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|2022|2021|
|---|---|
|Unlisted|Unlisted|
|As at the bal|ance s|heet date the Co|mpany
held the f|ollowing
investm|ents
in subsidiary|undertakings:||
|---|---|---|---|---|---|---|---|
||||||Nature of|Country of||
|SUbsldlIIU|||~Holdin||business|~inoor
ration||
|Stowe House|Enterprises
Ltd||"l00%ordinary|E1shares|Fund raising|England
8 Wales||
||||||for Stowe House|||
|||||2022||2021||
|||||Group|Charity|Group|Charity|
||||||||E|
|Due from Group company|||||7,595||6,036|
|Trade debtors||||1,879|1,000|1,037|1,000|
|Prepayments|and Accrued Income|||13,488|13,144|10,226|17,107|
|VAT recoverable||||119,860|119,860|||
|Taxation recoverable||||244||2,332||
|||||||13,595|24,143|
|Creditors: Amounts||falling due within one year||||||
|||||2022||2021||
|||||Group|Chadty|Group|Charity|
|||||E|E|E|F|
|Accrued expenditure||||13,975|10,230|33,635|9,219|
|Deferred income||||38,791|38,791|38,791|38,791|
|Other creditors||||104,854|97,247|183,774|162,749|
|Corporation
Tax and||VAT payable||||6,852|9,077|
|Building work|retention|||39,914|39,914|||
|Provision for unpaid||holiday pay||5,562|647|9,243||
|||||203,096|'186,821!|272,295|225,896|
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|||THE STGWE HGUSE PRESERVATIGN TRUST
(A Company
Limited ByGuarantee)|THE STGWE HGUSE PRESERVATIGN TRUST
(A Company
Limited ByGuarantee)|THE STGWE HGUSE PRESERVATIGN TRUST
(A Company
Limited ByGuarantee)|||
|---|---|---|---|---|---|---|
|||NQTES TG THE CGNSQLIDATED ACCOUNTS|||||
|||FQR THE YEAR ENDED|31 MARCH 2022||||
|11) Total funds||~Dssl aatad||General|Restricted||
|||Unrestricted||Unrestricted|||
|||Fund||Fund|||
||||F|F||F|
|As at 1 April 2021||1,?06,029||526,169|20,040,929|22,273,127|
|Incoming rasaurces
Resources expended|and|taxation||342,193
(291,443)|333,730
{357,210)|675,923
(648,653}|
|Transfers||||113,125|||
|||'I,592,904||690,044|20,017,449|22,300,397|
|As at 1 April 2020||1,533,956||682,501|19,549,680|21,766,137|
|Incoming resources||||174,343|971,313|1,145,656|
|Resources expended|and|taxation||(158,602)|(480,064)|(638,666)|
|Transfers||172,0?3||(172,073)|||
|||1,?06,029||526,169|20,040,929|22,273,127|
|Represented
by:||||Unrestricted|||
||||||Funds||
|Tangtble fixed assets
Current assets||||1,592,904
756,029|19,915,592
238,968|21,508,496
994,997|
|Current
liabilities||||(65,985}|(137,111)|(203,096)|
|Total net assets - 2022||||2,282,948|20,017,449|22,300,397|
|Tangible fixed assets
Current assets||||1,706,029
627,410|19,939,075
272,908|21,645,104
900,318|
|Current
liabilities||||(101,241)|(171,054)|{272,295)|
|Total net assets - 2021||||2,232,198|20,040,929|22,273, 'l27|
##
||Western
Suite phas
payable as foiiows:-|es
of the restoration
programme
and|the Marine
V|enus
statue.
Commi|tments
are|
|---|---|---|---|---|---|
|||||2022|2021|
||In iess than one year|||547,296|401,925|
||In one to two years|||33,158|36,964|
||Capital commitments|at 31 March 2021||438,889||
||Commitments
fulfilled|in year||(65„949)||
||New commitments|||207,514||
||Capital commitments|at 31 March 2022||||
|"l3)|Operating
Leases|||||
||Commitmenta
relating to operating leases: Equipment|||2022||
||Less than
1 year|||403||
||Between 2 and 5years|||||
||Greater than 5 years|||||
|||||403||
||During the year F2,132(2021:K2,079) was spent on operating||leases.|||
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|20) Consolidated
State|ment ofFi|nancial Activities
includin|g
income and expenditure
|account - pri|or year|
|---|---|---|---|---|---|
||||Unrestricted|Restricted|31-liar|
||||Fund|Funds|2021|
||||f.|Z||
|Incoming resources||||||
|Incoming resources
from|generated|funds||||
|Donations and legacies|||2,427|723,053|725,480|
|income fram Charitable|activites|||||
|Grants for restoration||||125,000|125,000|
|Other trading activities||||||
|Income oftrading
subsidiary|||11,491||11,491|
|Rent receivable|||155,162||155,162|
|Furlough
and CRF Income||||123,260|123,260|
|Misc Income|||5,103||5,103|
|income from lnvestrnents|-interest|receivable|160||160|
||||174,343|971,313|1,'i 45,656|
|Expenditure||||||
|Expenditure
on raising funds||||||
|Cost of trading subsidiary|||22,095|82,101|104,196|
|Fundraising||||7,020|7,020|
||||22,095|89,121|111,216|
|Expenditure
on Charitable|activities||138,839|390,943|529,782|
|Other Expenditure
—taxation|||||(2,332)|
|Total Expenditure|||158,602|480,064|638,666|
|Net, incomel(expenditure)|||15,741|491,249|506,990|
|Net movement
ln funds|||15,741|491,249|506,990|