RCIGISTF.IIEI D CHARITY NUMBER.. 1085810 REPORT OF THE TIIUSTEI EIS AND AUDITE4D FINANCIAL STATEMEIYTS FOR THE YEAR CI NDED 31 MARCH 2024 FOR COMPTON VERNEY COLLECTION SETTLEMENT Wallwork Nelson & John%on Statutoi'y Aiiditor Cliaiidlcr House 7 Feri'y Road ()fficc PaTk Rivei'5way Pi'estoi) Lancasliii PR2 2YH COMP'I'ON VE4 IINEIY COLLEICTION SCITTLEIMEbNT CONTLI NTS OF THE FIINANCIAL STATEMENTS FOR THE YEAR ENJ)ED 31 MAIiCH 2024 Page R¢porl of the Trustees I to 4 Report ofthe Indepeiideijt Auditors Stateinenl of Finaneixl Activities Balaiice Slieel Note5 to the Finaneial Statemeijts 9 to 15 COMPTON VERf4EY cOLL￿CTION SETTLEMENT BEPORT OF THE TRUSTEES FOR TUE YEAR ENDED 31 MARCH 2024 The trllslees present Ibeir report wiiFL Ib¢ fllwiciBI slRt¢ments tsf the tharily £or th¢ Y¢￿ ¢lld¢d 31 2024. The truslc¢3 have adopted the ptovisions of Accounting and R¢porting by Chsritics.. Stalemertt of Recomm¢nd¢d Pra¢tio¢ applicable ro cbarit1¢5 pr¢paring their oc¢ounis in occordance wAih the Financral RcportUJ8 Stand&td applicable in the UK pnd R¢public of Ircland IFRS 1021 Icffc¢liv¢ l January20191 OB￿CTIVEs AND ACTIVITIES ObJectlY¢5 and alm5 lor the publlc beneflt Clause l of theTn￿tDe¢d itat¢s'. The eharAtable objects ("th¢ obj¢¢ts'} of the Settlemejjt shall be to promote, ellCQW4EQ, tnsittt&in, itllprove alld 8dvance educatiotL of the public in r¢lalion to P8ULlingJ sculptllre and the applied and other visual arts aftd in r¢l4tion to the fthe arts gcn¢rally in paThculJr by maklljg the Collection las defined in cl&vBC 2la) b¢low) dvailabl¢ to the publi¢ by all appropriatc means iticluding display? re5&qr¢h* publication and other eduealional activity at Compton Vemey Houso {whÉ¢h is It￿88ed by Cojwiton VeEw Hou8¢ Cknity ICVHCII atmvor its wch other places 88 th¢ CVCS TnLSte¢8 shall detennille froln tim¢ t(k ¢iry¢. The TN$le￿ main p0￿r8 ll$8t4kd ittelause 2 of the TtU8t Decd arc.. (4) to acquire itcttLS of any nattlre whatso¢vGr {in¢ludiDg but not litnited tts mattuscripts. printed mgtt¢r, pldures, eEwavings. prints, musical instrume￿ts, b￿lIs￿l￿g$, memorabili4 book8, documents and records) (thc ilwns in the &ttlctnent's tolle¢lion from timc to limc boing the"Collection"I by PUT¢hi$e. 108tt. 8ift. bequ¢8L ¢xchange, or (without limilationl any oth¢r lawfiLI meatss itl ac¢ord8ttce with a docum¢nt appro￿d aud p¢tiodieally reviewcd by th¢ CVCS Trnstces as atticnded from tim¢ to tim¢ CVCS T[Usfr￿ may cotssider lleceSs￿ with r¢gpe¢¢ io the mallagemellt of the Collection (iticlttditig the a¢quLSLlion, ￿fety. pr¢5¢rvalioJJ, traJisport4lion, display at Compton V¢rn¢y House or such other pl8¢c or pl￿5 ￿ th¢ CVCS Trustees may from time lo time del¢￿1￿¢, ￿e, i]JSUTattce, loan and disposal or tbe CollECtiott) {the"Colk¢tion MaD3g¢DWt Policy'y. (b) to CODserve. restor¢, rcpBir, tec1K￿1n￿t alld preserve axy item or ilems in th¢ Colkction ttt ￿cOrdance with the Collcction Management Polioyi (c) to lend, hir< sgll or oth¢rwig¢ dispose of any It￿ or iteLKS ifL the Colle¢150n kn aceordattce with the Collectton Malla8ement Policy. The Collection MattagementPoli¢y isJn4d¢up of 3 i]￿iVIdual policAes'. a) Collcetion Dcvclopmcnt Paliey,. b) Coli¢¢ti0Tr5 Cpr¢ ￿dcOU&r[w8tioll Policy. c) CollwtioJ)5 Do¢umentatiottPolicy. The trutstees thatthey have ref¢tr¢d to th¢ guidaDcewtrt¥illed iti the Charity Coromissivu'y B¢nernl guid￿rnI pubii¢benefLtwh¢n Tevlewkng tbe Trnst¥ aims and obje¢livc5 and inpJaDning fvtUTC activities. Slgn511¢aut w¢tlTAtIÈs CVCS Ècquires works of artprinGipal]y in th¢ fol1oivtt￿ arts6: o. NeapolitsTr WOTk5 of Brt qnd Sculpture from the pwiod 1600- 1800,. b. North Europeall wwks of art from th¢ p￿10d 1450- 1650.. ¢. BritistrL works of 8rt fyoJD the period 1500- J900. d. Chillese at¢hai¢ broDZ¢S and pottcryi e. British Follt Art, f. Th¢ MgJx-L8mb¢rt Coll¢¢tionof EtttdMatxdesigDS folk art. The Tn￿S of CVCS do not rewd this as precluding th¢ acquisition of wotks of art wFLich fall outsid¢ th¥5 e8tegories where they deem it ￿ bo in th¢ ijjterest of the tollection generally of thr display policies of CVHC. It ts thc policy of CVCS thnl it only own works of art that aT¢ inl¢nd¢d to bcon displayto the public or art to b¢u8cd for e4hJcational PU￿08t& Pag¢ I COMPTON VERE4EY COLLECTIOTr4 SETfLEMENT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 NL4RCH 2024 Volunteers The Settletn¢ryt does notmik¢ use of volunte¢r8. ACHtEVEMKNT AND PEMFOIiMANCE Dllrhjg the yeor the Settioment a¢quiTed works of art ot a v4lu¢ of £436,474 (2023.. £2.8291. Most of the Settlemtnfs woikB of artate eith¢ron display at CVHC or on I FINANCIAI, REIryEW Prlnelpal sources Inveskn¢nt iThcome of £127.92812023.. £125,631) was received ID the year. Dwitig th¢ yw48ranl wa5 I￿¢1Ved of£50,000 froffj theViclNia and AlbertMus¢um. Colts itt¢UTred in Kspectof support aDd govemattt¢ G05ts amountEd to £65,42912023.. £59.550). Re¥trves poltey Revettue is allocated lo ÈepllTRt¢lyde8L8ll#ted fwjds for income knd capital. The aeneral Fund T￿O1¥e$ incothe from roysltie$ itLve8tsnent from the Bndowment Flllld •ud mccl$ the anj)￿1 Èdminislraliveand supportcosts of the charkty aDd reveDu¢ costs rela*d to the Collection. TheArtA¢quisltion Fund repr¢s¢llts tbevalue of th¢woiks of arth¢ld within Ihe Collection. The PurcFtase Fund i5 h¢ld topay forDCW purdusts tts Art Colleclitinllnd their ittitial ¢tsns¢rvatioJJ attd dlsp14y. The Pr¢5¢rvation of the S¢ttl¢mcJJt's coll￿tiOn of mitsiatures is a scparale fund for ￿ll$t￿tion work and other co8ts in r￿pect of the mtijiatures received frojn the Eslate of tAdy (3ralltchest¢r. The EttdovrnicntFund repre￿nts the investtncllt value of the Bndowment. The iucomc from thi¥ fiwl now Bpplied to the Gen¢ral Futtd. STRUCTUR4 GOVERNANCE AFID MMACEMENr Goverlllng d•tNfftent The ¢h4rity 14 controlled by its govemioE do¢tullenL A deed of trust dated 14th (￿to￿t 1999 alld ¢onstitu*s 8rL incotporated Ch￿lty. Recrultw¢n¢and appoltttweDt of new trustées Thc Supplemclltbry D¢ed dated 2 De¢¢mber 2010, ¢lau5¢ 11.4.2 giv¢5 Kirsten Suenson-Taylor the sole power to appoint uew tNslees. New appointmcjhts ale rnadc after advertising in the and chaTiry Ée¢tor pre88 attd otknr ed￿ alld followillg an >ryl¢Thiew with th¢ Compton Verney CBO. the Chasrof Cv￿, ttDd oth¢r5elected Org#hi59tlonal strutlure Ail 8dmiJJistrAtiv¢ dcrisions are mad# joitltly by the Tru8lees. Followillg the death of tb$ Bettlor, de¢isiou¥ rogardill 4cquisition of works of rtrt 4T¢ thken by the trust¢C5, the CEO of Compton Vern¢y House Cb8rity, and th¢ setlletlleDI'5 professional 8rt adv150t8. Indueltoii and trakntht of tru8te• Th¢ tnducftoll proc¢$5 for ttewly appoiDlcd Tftuslees comprises * corDpreh¢nsive ￿]¢￿￿¢ pack of infotm4lion o Compton V¢mey Colle¢tioJk Settlement and ils related orgallisations, Copi￿ of accoullts and ffjiout¢s of ftu$t¢¢s tJJ¢¢tingJ and att ]￿lUCIl0￿ me¢tity8 with the tNSte¢s of Ihesettlement. Relattd pArtles Compton Vemey Collection Settlement (CVCS) h88 co-opcr8t¢d with Jnother charity in order to m¢¢t its objectives. this being Compton Venw House Chari¢y {CVHQ. Both CILariiie5 were founded by Sir PelerMoor¢y Idcceased) CBE DL. CVHC staff co-opeiate with CVCS to en$ll￿ the safe handjingj ¢Jocumentation and insuyanct of Works of Art, And Ille CEO otCVHC ¢o-opwates in dEGISiOllS r¢Jating lo Art llfqUi5itioL Pag¢ 2 COMPTON VEIITrIEY COLLECTllof4 sETTLETh￿N￿ REPORT OF TllE TRuKfEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE At+lD ADMJNISTRATniE DETAILS Riglrtored CtrLgrlty number 1085810 Prirtclp#l wddr¢5S o WallworkNeison& Johrwtl ch￿IdlerKoUse 7 Feny Road Offic¢ Park, Ri￿r$waY Presto PR2 2YH Tru5teei Appoin*duntLI K Glenneysler (Chgir) Dr A Bostrom J SbJbb$ MBE, MOM K Suen80n-Taylor CJ Baktr R M Jon¢s Dr C Campbcll M Zuifjq DrQCao K s fwley 30 S¢pl¢mbBr2026 30 Seplember2025 30 S¢pleDib¢r2024 30 September 2026 YO SepiernbEr2025 I S¢pt¢mb¢r2025 30 September 2025 015¢ptcmber2027 30 Sept¢mber2026 30 S¢pt¢mber2026 Au