Charity registration number 1084969
WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tru$tet$
P Rigg
Mrs A ChrFstie
S F Knight DL
N Hart {Chairm￿)
M Lews
P J Jenkins
J C F Harvey
Mr N Suthertand
Chorlty number
1084%9
Prln¢lpal addr•*s
Singletr
West Suwx
Chichester
P018 OEU
Ind•p•nd•nt •xarnln•r
Dawd Knlght FCA CTA
Carpenler Box
Plp8r House 4 Dukes CcffjJrt
8ognor Road
Chlch8sler
Wast Sussex
P019 8FX
Bank•rn
8ardays Bank F4c
74n5 East Street
Chichester
West Sussex
P019 1HT
Sollcltors
Ir¥Mn Mrtthel
Irwn Mrtchdl Soliatcws
Thomas Eggar House
Frlary Lane
Chichestef
West Sussax
P019 IUF
Investm•nt •dvl•orn
LGT Wealih Management
14 Comhill
London
EC3V 3NR
Sarasin & Partnern LLP
Juxon House
100 Sl Paufs Churchyard
London
EC4M 88U

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
CONTENTS
Pag•
Trustees, report
Indtspendent examln*s rewrt
Statement of ffin8n0￿ acts.vits
Balance sheet
Stotement of cash
Notes lo the flnanual ststem•nts
7-15

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The twslees present their annual reFth and financial ststements for the year ended 31 December 2025.
The finandal statements have been prepared in acc(Ydance 4wlh the accounting pc4icies set out in note 1 to the
firiancial statements and compty the thArtys goveming document. the Charities Act 2011 8nd 'Accounting
and Reports'ng by Charib'es". Siatemenl ol RecoMrner￿ed Practice applicable to charities preparing their accounts
In aGcord4nce wlth the Flnancial Reporting Standard apF4icable in the UK and Republic of Ir8Land {FRS 1 D21
leff8ctive 1 January 20191..
Obj•ctlv•s and actlvltl•s
The Trust's objects are to supF*Nt and aid the Weald & Downland Museum Limited (Registered Charity
No. 3063381 in pursuafKe of it¥ tharilable objecAives.
The trustees confimi thal they have referrefl lo the guidance conlained in lh8 Charty CLYnmission's general
guidance on public benenl when re￿ewIng the TNsfs aims and obJ"ecb'ves and In ￿8finIng future 8cllvilies and
setling the grant rnaking policy for ihe Trust.
Investment
At tho year end, the Trusi's Snveslmenls wer8 hdd in LGfs Volare Funds and Ihe SaT8sln & Partners
Endowment Fund and related Liquidity Funds. Th8 inv8slm6nls relating lo the Heritage Lottery Fund Heritage
Endowments Fund are maintsined in separate su￿a¢cOUnts. Cash lo moet immediale requiremenis is held with
Bardays, with addition81 funds in the CCLAJCOIF Charities Del￿ Fund.
Inv•slmenl p0￿cY
The policy of the Iruslees is that the fiJnd5 bè inve818d in 8 balanced prfolio of Se￿IntIeS investrng in the UK
and overseas ¢quilies, fixed interest securities and c(4lectlves as Ihe Investrnent Managers may so 8dvise. Th8
trustees accept a medium degree ol risk.
Investment objgGtives
The prtrnary invesimenl oblèthe 1$ to produce a b8lance of Income an¢J c4prtal grovrth over the me¢Jium temi.
Achl¢v•m•nts and p•rfornianc•
Equity and bond markets throughout th8 world showed 30me gains in 2025. The increase in Va￿atiOn during the
year, reflected in the change In net assets, was £137.91312024'. £166,355). Since the year end, valuats'ons have
mained broad￿ positive. Sinc* the Trust holds inveslments for the me(lium to temi, and maintain$
8ppropriaie levels of liquidity changes #i asset valuau.ons do not h8ve any ￿gnIfiCan1 effect on tha Trust's
8¢tivilies or objectiv&$.
At the year end, the value of invèstmenls held in unreslrithd funds was £1.708.682.' those hekl in the Heritage
Lottery Fund Heritage Endowwnen15 Fund ¥alued at £1.284.056, gimng total investments of £2.992,738
12024. £2.800,6751.
Due lo the conllnulng volalllty In markets In the earty of the year, the Trust conlsnued to malntsin liquidlty In
bank deposits and in the Inveslmenl Managers, liquidity lunds. Al the year end. cash al bank was £157,793 with
a further £329,960 in liquidity fiJnds and cash he￿ as part of the inveslment portfclio.
Subsequent to the year end, in January 2026 Ihe Trust paid 8 grant of £220.000 lo the Museum to support its
aciivili9s. This grant was agreed be1C￿e Ihe year end so has been accrued in Ihe5e accounts.
The combined value of assets held al the year end was £2,928.97212024. £2.954,7621.

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Financial T•Vi•W
The intention ol the trustees is lo bulhj up the ￿ENtal and reseryos of the Twsl to meel the staled invesiment and
grant giving objectrves. To this end the perfcmiance of Ihe Tntsi's inveslmenis are regulaty reviewed. The
trustees consider the perfomiance ol the Trusf5 investments In 2025 to be broa(lly in line with globel markets.
The reseNes hold al the year end are £2.928.97212024 - £2.954.7621. of £1.712.22012024 - £1,806,138)
8r8 unreslrtcted and £1.216.75212024 - £1,148.6241 arn hdd in the Harilage Lottery Furbd Herftage End0v￿entS
Fund.
The major risks lo whlth the Gharity is eX￿}sed, as idenlffjied by the Tw8lees. have been rewewed and systems
or procedures have been 8slabFish8d lo mon8gè thos8 risks.
The prim8ry risk is lo the value of the fvnds in the Trust and to minlmise this, the Trustees meet IM¢e a year lo
review performance and maintain regular contsGI wth the Inveslmenl Manag•rs in bolween these meetings. The
Trustee5 will continue to rn0nilc￿ these Va￿*$ d081ey. The knger t•mi cffitinu•8 to bo the support of Ihe
Museum.
Slructur•, gov•manc• and manaqemenl
The Weald and Downland Open Air Museum Endovmient Tntst (the TN#tl 16 8 fegi8t8red charity, number
1084969, established by 4 tharitat4e trust deed on 23 Octobw 20￿.
The Injsleès who 8er48d during Ihe year wer8:
Pwgg
Mrs Achnsts'e
S F Knlght DL
N Hart ICh8imianl
M Le￿5
P J J¢nkin8
J C F Harvey
Mr N Sutherland
Thr9¢ of th• trustees may be 8pw'nl•d from th• oxisting truBtees of Iho W•8ld & Oovmland Op•n ￿'T Museum.
Additional trustees are sought from individuals with ￿MmercIal or investment management experience vtho can
help further the object5 01 the Trust. New truslees are provided ￿th a package ol inf0mia￿On about the trust and
the Museurn together with the reswn5ibiht4es of a charity trustee.
The Trust 1$ administered and managed by the trustees.
Asset eover for lund
Nole 18 sgts out an anaysis ol lh8 assets attril)ulatle to Ihe variou¥ fvnds and a dgscription of the Irusts. Thg8e
8SS8ts are SLrficA8nl lo me&t Ihe charity's ot4ig8tions on a fund by fvnd bBws.
On behall
the board of truste8s
N Hart IChaim)an)
Tru51ee
Dated..
30 ft*2 1& 10

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT
TRUST
I report to the trustees on my examinatson of the finano31 ststements of We81d and Dovmland Open Air Museum
Endowm8nt Trust Ith& tharity) for the yew 31 December 2025.
Responilbllitl•s and basls of r•port
As Ihe trustees of the charity you are responslbk the Weparati￿ of Ihe flnandal statsments In accordance ¥￿th
the requlremenls ol the Charities Act 2011 (the 2011 Adl.
I report in respect of my examinalion of the chari￿5 financial st3temthts carried cwt under séctron 145 of the 2011
Act. In Cal￿ng out my examinatson I have folkN4ed all the applicab￿ tirectsons given by ihe Charfly Cornmlssion
under Sect1¢￿ 145I5llbl of the 2011 Acl.
Ind•p•nd•nt •xamln•rfs stat•m•nt
Your attentron 1$ drawn lo the fact that the tharity hos prepared fin8ncial statements in OCCOrdan￿ wrth Acwunting
Ind Reporbng by Chanties prepanng their accounis In accordance wlh the Fin8noal Reportsng S(and8rd applicBbbe
in the UK and Republic of Ireland IFRS 1021 in preferenc8 lo the Accounting and RgpNling by Chari(ig$'. Statement
ol Recommondod Practica issued on 1 Apn'l 2[￿15 ¥thich is ref8rrnd to in tha axtant WLblatsons but hAS now ba8n
withdrawn.
l understand that Ihls has been done In order f(x finanryel slatements to pmlde a true an(i fair vSew In accordance
wllh GenerallyAccepled AcccMJnllng Practlce effedlv8 for repottyng pètlods bèginnlng (*) or after l January 2015.
I have compleled my examination. I confirrn Ihal no matters have come to my attention in connection wlh the
examination glving ma cause to beli8ve that in any matarial r8sp8ct.'
accounting rewds were nol kept in reswct of Ihe charily as roquired by secticm 130 of the 2011 Act.. or
the financial staiements do not accord wilh those records., ¢
the fin8ntial 8ts18menls do rhot cornp￿ the applicab￿ requirements conceming the fomi and content of
acGounls sel OLrt In the Charlts'es IAc£(KJllts and Reports) Regulations 2008 other than any reqvir#m*nt th81 th•
accounts give a true and lair view which Is not a matter conSK1e￿I as part of an independenl examinab"on.
I have no ccmcems and have come a¢yoss no olher mallers wTr connection *ryth Ihe examinati￿ to which attention
should be dravm in this report In order to enabl8 a proper understanding of the finanaal slatements to bo reached.
D•vld Knlght FCA CTA
Carwnter Box
Piper House 4 Dukes Court
Bognor Road
Chichester
Wesl Sussex
P019 8FX
Dated..
. loiL

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
STATEMENT OF FINANCIAL ACTivrriES
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestrlcted Endowment
lunds
fvnd•
2025
2025
Total Unrestrlcted Endowrnent
funds
funds
2024
2024
Total
2025
2024
Not•s
IncDm• from:
Donalions and I￿at$
Inveslments
1,440
34.221
1,440
49,032
1.310
35,273
65,509
14.172
86,819
49,445
14,811
Totol Income and
•ndowment*
35.661
14.811
50.472
36.583
79.681
116,264
Exp•ndltur• on:
Raising funds
5.652
4.405
10.057
3,692
2,982
6.674
vi
Grants lo Weald and
Downl8nd Open Air
Museum including
govemance costs
221,S60
221.580
161,516
161,516
Total ¢h•rlt¥bl•
•xpendltui•
221,560
221.560
161.516
161,516
To(81 expendrtur•
227.212
4,405
231,617
165,208
2.982
168,190
Nel gains on
investrnents
82,822
72,533
1SS.355
84.327
82.028
166.355
P4et Incom•ll•xp•nditur•)
1108.729)
82.939
{25.7901
144.298)
1 S8.727
114.429
Transfers between
funds
12
14,811
(14.8111
14,172
114,1721
N•t mov•m•nt In
lunds
193.9181
68.128
25.7901
130.126)
144,555
114,429
Reconclll•tlon of lund8.'
Fund b81ances al 1 January
2025
1,806.138 1,148.624 2.954.762
1.836.264 1.¢XA,069 2,840.333
Fund balances at 31
Dteember 2025
1,712.220 1,216,752 2.928.972
1.8￿.138 1.148.624 2,954,762
The slalement of finanu81 actiwties indude5 al gains and k*8es re¢￿j￿I$ed in the year. All in¢(The and expenditure
derive Irom Gonlinulng aCti￿ties.

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Note•
Fix•d as8•t8
Inveslrnents
2.912.738
2.800.675
Current as8et*
Investments
Cash at bank and in hand
14
157.793
155,526
237.793
155.526
Credltor5.' •mounts lalllng du• ¥Athln
one year
15
221.559
1,439
N8t curr8nl a88818
16.234
154.087
Total a•*•ts curr•nt Ilabllltl••
2,928.972
2.954.762
The fund• of th• charlty
Endowm&nl funds
Unrestricted lunds
1.216.752
1,712.220
1.148.624
1.806,138
2,928,972
2.954.762
Its hPl1￿ zu
The flnancbal statements wore approved by the trustees on .........................
M Lewis
Tru•t••

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Notes
Cash flows from op•ratlng acllvbtl•s
Cash absorbed by oper8t￿n$
110.057
190.8281
Inv••tlng aCtlYltle•
Purchase ol investments
Proceeds from disposal of invesbrnnts tess
movemenl in cash
Investment Incorne recdvod
11.373.742)
{388.313)
1.337.034
49.032
49,445
N•1 ¢••h generat•d fromlluud In)
Inyestlng ¥dlvltle•
12.324
1338.8681
Not cash In fbn•nclng a¢tfvltl
N•t Incr•as•lld•cr•a••) In c••h and c••h
•qulvalents
2,267
(429,6961
Cash and cash equivalwts at beginning of year
155.526
585.222
Ca•h and c•*h •qulv*l•nt• at •nd ol y•ar
157,793
1 S5,S26

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accoun￿￿9 pollch•
Charlty Informatlon
Weald and Downland Open Air Museum En￿O￿r￿1 Tnjsl is an uninwr￿Ieil charity domiciled and
iegislere(i in Erbgland and Ihlales. The wncipal address is Slnglelon. Chichester, West Sussex, P018 OEU.
1.1 AccoUn￿n9 conventlon
The financial slaternents have been p￿Pared in accordance with the charitys goveming do￿ffient, the
Chartties Act 2011 and 'Accounting and Reporb"rvJ by Chantles.. Statement of Recommended Practice
applicable to ch8nts"e5 prepanng their accounts in accordance with thts Financial Repcrfiing Standard
applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019).. The ¢harily is a Public
Benefll Enllly as defined by FRS 102.
The finanu81 statements have departed from the Chariti'es IAc£ounts and RerKffts) ReguFations 2008 only lo
the extent requirod to prowde a tnFe and lair view. This departure has involved folb)wing the Siatement of
Recomm8nded Practice for chariti'es 8pplwng FRS 102 rather Ihan the v8rsK>n ol the Statement of
Recommended Practice which is refer￿d to in the Regulatlons bul which has been withdrawn.
The financial slalomenls are prgpared in sterling. vthith is the funclional euffancy of the chadty. Monetary
amounts in these financA81 stalements are rounded to the nearest £.
The accounts have been prepared under the hi51ori¢al ¢¢￿t convention. modified lo incknle certain financial
instrumenls at fair value. The principal accounting polioes adopled are set out bekny.
1.2 Golng conc•in
Al the time ol aptKo¥ing the financial statements. the Irustee8 have a reasonabk expectstknn that the cttanty
has adequate resources to continue in operational existence for the loreseeable fuluffj. Thus the trvstees
continije lo adopt Iha going conGom bags of ACC￿1n￿n9 in weparing th8 finanrAal statements.
1.3 Ch•rftsbl• funds
Unrestricted funds arè available lor usè al Ihe disCr￿￿on ol the trustees in furtherance ol th8ir charilablo
objectives.
The Endowment fijnds represent the M￿leS Ir8nsferred from the Weald & DownL4nd Open Air Museum
Limlled lo the Trust that are invested in the Herrtage Lottery Fund Heritsge Endowments Fund.
The Endowrnenl funds comprise amcAJnts raised by Ihe Museum whith have been malchgd by grants from
the Heritage Lollery Fund. The oity'ed of Ihe fund is to support the long temi objectives of the Museum by
providing grants SOUTced from Income and caytal 98￿5, over and above Ihw negdgd to weserve the capital
of the lund in real tems.
1.4 Ineom•
Income is recounlsed when the charfty Is ￿allY entitled to tt after 8ny perfomion(*J cnndilions have been rnel,
the amounts be measureo ￿th.abty, and il is Ihat in￿rne wil be received.
Cash (Jonth"ons are rocognisetl ￿ r￿1p1. Othw d(￿atIonS ar8 r8ccgnis8d once the charity has been nobfl8d
of the donation, unless perfcrfmanee condilK)ns require deferral of (he amount. Income tax recoverable in
relation to donations received under Gift or deeds of cover¢anl is recognised at Ihe b'me of the donation.
Legacies are recognised on receipt or otherw¢se if the tharity has been notified of an imponding dislribution.
the amounl is known, and receipt is expected. W the amount is nol known, the legary is treated as
conts"ngenl asset.
1.5 Expondlturo

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting pollci•s
IContinu•d)
Resources expended are aecounled for on an basis. Expendilure has been identified between
raising funds antl charrtabbe activities. Grants paid are included in charitsble activities and aGGounlancy fees
and bank charges ar8 Induded in wvemance (xjsts *ithift tharilable actiwties.
1.8 Flx•d •s¥•t Inv•skn•nts
Fixed a86et investments are stated at market value.
Unreallsed and reallsed 98in and losses ore r8(x)Jnl8ed in the Ststemenl Of Fin8naalAcliMti8S.
1.7 C••h •nd ¢a¥h •qulval•nts
Cash and cash equivalents include cash in hand. deposits hekl al ram vAth banks. other short-16m liquid
investments with original maturities of three rTKffiths or l&ss, and bank overdrafts. 8ank overdrafts are sh¢)wn
within borrowngs in CUTrenl118bililies.
1.8 Flnincl*l In•trum•Trt•
The charity has elected lo the FYovis1￿￿ d sec11￿ 11 '88*'c Flnanu81 kn5trumonts' and Section 12
'Olher FinanciAI Instruments Issues, of FRS 102 to all 01 rt8 finanrAAI instruments.
Financial InstnJm8nts are recognised in the chanty's balance sh•et Wh￿ th• c*barity bets)mvs party to the
contractual prwsions ol the instrument.
Flnancial assels and Ilabllilles are offset. ￿th the nel amounts presented in ihe fin8nclal stslemenls. vthen
the￿ is a legalty enforceable nghl lo stl off the recc*3nr&ed amwnts and therè is an inlènb'on to Settle on a nel
basis or to realise the asset and settle the liability simuttoneousty.
8*#k Ilnancl41 •ss•ts
Basic financial a55e15. which include debtcn and cash and bank balanc85, are inTrtially moasured al
transartion t￿ce Induding transactbon costs and 8re sub58quèntty carried at amortlsed cost uslng th8 èffèctiv•
interest method vnless the arrangement ¢￿$trtY1eS a finanang transaction, ¥th¢re the transaction 18
measured al the present value ol the lutuie receipts discwnled at a market rate of interest. Financ4al assets
assified as receivable within one year ar¢ nol arn￿11$0d.
Oth•r fln•n¢l•l 4$sets
Other financial assets, indudlng Investments In equty instruments %thlch are not subsldiarfes. associate$ or
joint ventures. are iniljalty meaSU￿d at fail value. which is normally Ihe tr8nsactson pri￿. Such assets aro
subsequentty ￿Me0 al fair value and the changes in fair vaKJe are reccrfjnised in net incomellexpendilurel.
except thal investmenls In equrty instruments thal Are not publicty traded and whose lair valves Cannot bo
measured reliabty are measured at cost les5 impaimienl.
Impalmient ol ffn•ncl•l •ssets
Financial assèts, other than Ihose held 81 fair value Ihrough income and •xp#ndrtiJre, ats 88sessed for
indicators of impaimienl at each reporting date. Financial assets are impaired where there is objective
evidence that, as a resutt of one OT more events th8t 0¢￿tred after the Initial recognitron of the financial a5seL
the estsmated fvture cath tlows have been affe(Aed.
If an asset is impaired, th8 impaiment 15 the drfferenc8 b8fv488n the caryng amount and th8 pr8sènt
value of the eslimaled cash flows discounted ai the asset's onginal effective interest rate. The impaimient1088
is recogni5ed in net incomellexpendrturel for the year.
If there is a decrease in the impairment loss afising from an event 0￿rring after the impaimient was
recognised. the impaimient is reversed. The ￿versal is such that the current Carr￿n9 amount does not
exceed what the carrying amwni would have been, had the impaiffnenl not Previousty been reccNJnised. The
irnpairment reversal is recognised in nel incomellexpendilurel for the year.

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Aceounting poli¢1•8
IContsnu•d}
Dere¢ognttlon of fln¥ncl•l •s$ets
FinanGial assets are Llerecognised vknen the contractual rlghts to the cash frc¥n the asset explre or
are settled, or vthen the charity transfers Ihe finana81 Bssel and substantially all the risks and rewards of
ownership lo another entity. or rf some significant risks and rewards ol ownership are retained but control of
tho assot has Iransferred to anothor party that IS to so11 Ihe asset in its enbrety lo an unrelatod Ihlrd paty.
B•sk flnanclal Il•bllllle$
Basic finanual 1¢a￿.11t1e$, induding fnditors and bank bans are inrtialty recogntsed at transacti(m prlce unless
the arrangement conststutes a financing transacbon, vthere the debt instrument is measured at the present
value of thg luturo payments discounted at a mark¢t rat& of interest. Finan¢¢al liabilitsos classified as payablo
wlthin on• year Bre not amortis•d.
Debt inslrurnents ar8 subsequentty carrled al aM￿lI*j cost, using the eff8thie Interest rale method.
Trade crèdil¢Jts are obligation$ to pay for gcths c* 8WViC88 that have been ac4uired in the ￿d1ft8ry ctyJr8e of
operab.ons from suppliers. Amounts payatle are d8ssffied as Current liabilitsos rf pgymont is due vAthin one
year or less. H not. they are presented as ncrfKurrenl h8kn'1iti'es. Trade Credrtors are reu)gnised inits'ally al
transaction price and subsequenlty rneaSU￿d at amortised cost ujing the effectrve interest method.
other Ilnlnchl Il•bllhles
Deriv81ives. Including Inleresl rate swaps and lov￿ryI fcyeign exchange contr8cts, are not bgsic finBnci81
instNments. Derivats"ve8 ère Inrtialty recognised al fwr va￿8 on the date a dgrivativo ￿ntra￿ 1$ enlered into
and are subsequendy Trmeasured at their fair value. Changes in the fair valu8 of derivatsv8s are re￿gnised
in or in finance costs or finance income as appropriato. un1ts58 hedgt aceounlino Is app¥ed and the hedge is
cash flow hedge.
D•r•¢ognltlon al Ilnanclal Il•bllltl•s
Financial liab'lity"es are derecwnised 4thgn the tharity'¥ rthtrathal c*4igation8 expire crf are discharged or
cancelled.
Income from doTratlons and legacles
Unrestrlcted Endowment
lunds
funds
2025
2025
Total Unr•strlcted Endowment
funds
funds
2024
2024
Totsl
2025
2024
Don8tions and gifts
1.440
1.440
1.310
65,509
66.819
Included in the above arnount in 2025 are lunds of £1,440 {2024 - £1.3101 received frcrfn the Museum. In
addition. restricted funds of £0 12024 - £65.509) We￿ received from the Museum in rew of the final
instalment ofthe Heritsge Lottery Fufid Herrtage Endowments Fund.

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Incom• from Invesbn•nts
Unrnstrlctod Endowmenl
funds
fund•
2025
2025
Totsl Unrestrlctsd Endowment
fund*
funds
2024
2024
Total
2025
2024
Income fr(#m unlisled
inv8stm8nts
Interest receivablg
25,866
8,355
14.449
362
40.315
,717
26.459
8,814
13,896
276
40.355
9.090
34.221
14,811
49.032
35,273
14.172
49,445
Ral•lng funds
UTrr•¥tri¢t•d Endowmenl
fund•
fund•
gen•r•l
202$
Totsl Unrestricttsd ETthwTnent
lunds
funds
general
2024
Tol81
2025
2025
2024
2024
Invèslmenl management
fees
5.652
4.405
10.057
3,692
2.982
6,674
5,652
4.405
10.057
3,692
2.982
6.674
Exp•ndltur• on ch¥rlt•bl• •dl¥lil•i
Gr•nt• to
Grnnts to
We•ld and Weald and
Downl•nd
Downland
Op•n Alr
Open Alr
Mu••um
Musèum
Includlng
Includlng
gOV•man￿ governance
costs
costs
2025
2024
Dlrect costs
Grant funding of actiwtses (see note 61
220,000
160.000
Share of support and gov•rnane• costs {¥e• note n
Govemance
1,560
1,516
221.560
161.516
Analysis by fund
Untsstrfcled lunds
221,560
161.576
10-

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Grnnts payable
Gr•nts to
Grnnts to
Weald and
Weald and
Downland
Downland
Open Alr
Open Alr
Museum
Museum
Includlng
Includlng
gov•rnanc• governanc•
costs
costs
2025
2025
Grants lo Snstltutions..
Wedd and Oownland Open Air Museuffl
220.000
160.000
Support costs
Supwt Go¥•m•n¢•
cost•
costs
2025
Support Gov•rn*n¢•
co•ts
2024
Accouni8ncy
Independent Examinats'on
fees
Bank tharge8
1.560
1,440
76
1.440
76
1.560
1.516
1.516
Analysed bèlween
Charitable activittes
1,560
1,S16
1,516
Galn• and los••s on Inv•stm•n
Unv•$tri¢t•d Endowm•nt
fund$
funds
2025
2025
Totsl Unr••trlct•d Endowm•nt
fuo)ds
lund#
2024
2024
Total
2025
2024
Gainsllbssesl arising on..
Revalualion of
investments
Sale of investments
72.848
9,974
85,065
7.468
137.913
17.442
84.327
82.028
166.355
82,822
72,533
155,35S
84.327
82,028
166,355
Tru$t••s
None of the Iruslee5 lor any persons ca)nn6cted them) recetved any remuneration or reimbursement of
expense5 during the year.
11

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
IQ Employm•
The 8ver8ge monlNy number of employees durir4J the yeor was..
2025
Numb•r
2024
Number
Total
There were no emF4oyees whose ￿nUal remuneratson wa5 than £60,IYJO.
R•mun•ratlon of k•y man*g•m•nt personn•l
There is no rernuneralion of key management peTwnno1.
11 T•x¥tlon
The Is exempl from tsxauon on As actiwties because al Ils Inrnme Is applied ft* cha￿table purposes.
12 Tran•f•r•
Thè transfer bètween fund¥ is made up ol the 10kn￿n9:"
£14,811 12024.. £14.1721 transferred Irorn endowment to ￿n￿stricted funds which 1$ dividend and inteTe81
income arislng on the endo¥mient fvnd that can in acc(¥d8nce vith the objects of the charity.
13 Flx•d ••vt Inv••lm•nts
UnH•t•dLlquldlty Ftsnd
Inveltments
C••h In
portlollo
Total
Cost or v•lu•don
At 1 January 2025
Additions
Valuation changes
Transfers l Movements in cash
Transfer to Current Asset Investments
Dlsposals
2,516,799
1.225.41XI
137.913
131.5Th))
263,457
148.341
20,419
2.800,675
1,373,741
137,913
3,647
180,0001
11,323.2381
31.500
180.¢JOOI
1137,4041
3,647
11.185.834>
Al 31 December 2025
2.662,778
225.894
24,066
2.912,738
Carrylng amount
At 31 December 2025
2.662.778
225.894
24.066
2.912.738
Al 31 December 2024
2.516.799
263.457
20.419
2,800.675
Flxed a$8et Inve•tment• revalued
The historical cost of the investments Iwhlth Ir￿ude5 the Currenl asset investments) held at 31 December
2025 Is £2.914,459 (2024 - £2.589.405).
12-

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14 Curr•nt a8••t Inw$tmonts
2025
2024
Llquidity Fund
80,000
15 Cr•dllors: •mounts f•lllng du• T*lthln on• y••r
202S
2024
Other creditors
AccnJats and deferreil inc(Nn8
220,0(M)
1.559
1,439
221,559
1,439
16 Endowm•rrt fund8
Endowment lunds represenl assets hehj in the Heritage Lottery Fund Hèritage Endowments Fund. The capttsl
is maintsined permanentty by the charrty. Income ariskng the lunds can be used in acrThdance wrth Ihg
objects ol the charity.
At 1 J•Du•ry
2025
Incomlng
r•Jourui
Resourc
gxp•nd•d
Tr•n•f•r•
Galn• and
lo••••
At31
D•c•mb•r
2025
P•rnian•nt •ndowm•nts
Heriiage Lottery
Fund Heritage
End0v￿ents
Fund
1.148.624
14.811
14.4051
(14,811)
72.533
1,216,7S2
Pr•vlous y•ar: At 1 January
2024
Incornlng
r••our¢•8
R•sourc•s
•xp•nd•il
Transf•rs
Galns and
1088•8
At31
D•c•mber
2024
Pomanent endo¥mi•nts
Heniago Lottèry
Fund Heritage
Enflowments
Fund
Heritage
Endowrnenls
Fund donatsons
not yel rnalch
funded
969,5T8
79,681
12.9821
20,319
82,028
1.148,624
34.491
134,4911
1.1)04.069
79.681
12.9821
114,1721
82.028
1.148.624
13-

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17 Unr•strict•d funds
The unrestricted funds of tre charity comprise the unexpended b818nces of donations and grants thich are
nol subject lo sperAfic conditsons by donors Bnd gr8nt(KS 8$ lo how they may be used. These Indude
designated lunds v*hich have been set aside out of unrestricted fijnds by the Iruslees for speufic purposes.
At 1 January
2025
kncrynlng R•sourc•s
r•sourc•*
•xp•nded
Trnnsfern
Galns and
At31
loH•* December
2025
General funds
1,806,138
35.661
Ir27.2121
14,811
82,822
1,712,220
Pr•vlous year: At 1 January
2024
kncomlng R•wur¢•
r••OUr￿l
•xpend•d
Trnnsl•r•
Galns and
lo*s••
At31
D•umb*r
2024
Gener81 fijnds
1,836.264
36.583
1165.2081
14,172
84,327
1,806,138
18 Analy81• of n•1 J•¥•ts b•twwn funds
UnrMtri¢tsd endowment
fundg
fund•
2025
2025
ToL•l
2025
Fund bal•nce• •t 31 D•cemb•r 2025 •r• r•pr•Mntsd by..
Investments
CuThent assel investm8nl8
Other Current 8ssetsllliobilitses)
1,628,682
80,000
3.538
1,284,056
2,912,738
80,000
163.7661
(67,3041
1.712.220
1,216,752
2,928.972
Unrestrlcted EndowiTr•nt
funds
fund8
2024
2024
Total
2024
Fund bathnce• •t 31 Oecember 2024 0rn r•pr•••nted by:
Inveslmenls
Cuffenl assetsl1l1a￿'liIieSI
1,599,557
206.581
1.201,118
52,4941
2.800.67S
154,087
1.806.138
1.148,624
2,954,762
19 Ev•nts after the reporting
The value of Ihe investrwits heki rernains broadty in I'ne wilh the year end ¥a￿ationS. In January 2026 a
grant of £220,000 was paid to the Museum to supp(wt its 8¢tivilJes. As Ihis grant was agrèèd before the
Balance sheet date it has been accrued in these accounts.
14-

WEALD AND DOWNLAND OPEN AIR MUSEUM ENDOWMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20 C¥sh gon•rnt•d from operations
2025
2024
{DeficrtYsu￿uS for the year
125,7901
114.429
A(Jjuslmen15 for.
Investment In￿Me recoynl8ed profll ￿ bj
Gain ￿ disposal of investments
Fair value gains and losses on investments
{49.0321
117,4421
(137.9131
149,44SI
1166.3541
Movements in working capitsl,.
Ilncreaselldecrease in debt(Ys
Increase in creditors
10,413
129
220.120
C*•h •b•orfo•d by op•v•tlon•
{10,0571
190,8281
21 Analy8ls of chang•s In n•t lundi
The charlty had no material debt during the year.
22 R•lat•d party transactlons
During the year £1,440 12024 £66.8191 donations V•YTe receivable from Weakj & DON￿18nd Open Alr
Museum Lirnited and £220,000 12024 £160,0￿) in grnnts were committed or paid lo Weald & D¢)wnland
Open Air Mu$8um Limrted. In¢bded in Creditorn is £220.00012024 - £01 owed to Weakl & Downland Open Air
Mus8um Limlted.
15-