2022-12-31-accounts - Stansted Park Foundation

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Trustees			The Earl of Bessborough
			Mr R M Davies
			Viscount Duncannon
			Mr C D Nickolds
			Mr YPetsopoulos
			Mrs C F Villiers
			Mr RJAWates
			Miss C Webster	(Appointed	7June 2022)
			MrAM D Lanza	(Appointed	7 June 2022)
Charity	number		1101251
Company		number	4907189
Principal	address		Stansted Park
			Rowlands Castle
			Hampshire
			PO9 6DX
Registered		office	Stansted Park
			Rowlands Castle
			Hampshire
			PO9 6DX
Auditors			Jones Avens Limited
			Piper House
			4 Dukes Court
			Bognor Road
			Chichester
			West Sussex
			PO19 8FX
Bankers			Barclays Bank pic
			81A London Road
			Waterlooville
			Hampshire
			PO7 7ER
Solicitors			George Ide LLP
			52 North Street
			Chichester
			West Sussex
			PO19 1NQ
Investment		managers	Cazenove Capital Management
			Schroder 8 Co Limited
			12 Moorgate
			London
			EC2R 6DA

				Page
Trustees'	report			1-4
Statement	ofTrustees'	responsibilities
Independent auditor's		report		6-9
Statement	offinancial	activities		10-12
Summary	income and	expenditure	account	13
Balance sheet				14 - 15
Statement	ofcash flows			16
Notes to the financial statements				17-39

Current financial year	Current financial year
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds
				2022	2022	2022	2022	2021
			Notes
Income and endowments		from:
Donations and legacies				19,668	11,841		31,509	27,568
Charitable activities				321,019	16,254		337,273	297,911
Other trading activities				131,962			131,962	92,640
Investments				1,179,770		15,936	1,195,706	1,085,777
Other income				18,132			18,132	14,893
Total income and	endowments			1,670,551	28,095	15,936	1,714,582	1,518,789
~Raisin funds
Investment property	costs			402,121			402,121	418,900
Events expenditure				77,885			77,885	48,532
Investment management						3,894	3,894	6,296
				480,006		3,894	483,900	473,728
Charitable activities
House and gardens				829,393			829,393	706,522
Forestry				190,070	26,895		216,965	173,667
Wood fuel production				15,798			15,798	20,761
Total charitable expenditure				1,035,261	26,895		1,062,156	900,950
Total resources expended				1,515,267	26,895	3,894	1,546,056	1,374,678
Net gains/(losses)	on investments		13			11,478,922	11,478,922	366,643
Net incoming resources		before
transfers				155,284	1,200	11,490,964	11,647,448	510,754

Net incoming transfers	resources before		155,284	1,200	11,490,964	11,647,448	510,754
Gross transfers	between funds	15	1,200	(1,200)
Net incoming	resources		156,484		11,490,964	11,647,448	510,754
Other recognised gains and losses Revaluation oftangible fixed assets					(2,373,786)	(2,373,786)
Net movement	in funds		156,484		9,117,178	9,273,662	510,754
Fund balances	at 1 January 2022		503,982		39,488,678	39,992,660	39,481,906
Fund balances at 31 December 2022			660,466		48,605,856	49,266,322	39,992,660

Prior financial year
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds
			2021	2021	2021	2021
		Notes			E
Income and endowments	from:
Donations and legacies Charitable activities Other trading activities Investments Other income			24,513 297,911 92,640 1,073,429 14,893	3,055	12,348	27,568 297,911 92,640 1,085,777 14,893
Total income and endowments			1,503,386	3,055	12,348	1,518,789
R~sisin funds
Investment property costs			418,900			418,900
Events expenditure Investment management			48,532		6,296	48,532 6,296
			467,432		6,296	473,728
Charitable activities
House and gardens			706,522			706,522
Forestry			162,347	11,320		173,667
Wood fuel production			20,761			20,761
Total charitable expenditure			889,630	11,320		900,950
Total resources expended			1,357,062	11,320	6,296	1,374,678
Net gains/(losses) on investments					366,643	366,643
Net incoming resources			146,324	(8,265)	372,695	510,754
Other recognised gains and losses
Net movement in funds			146,324	(8,265)	372,695	510,754
Fund balances at 1 January	2021		357,658	8,265	39,115,983	39,481,906
Fund balances at 31 December 2021			503,982		39,488,678	39,992,660

		All income funds
		2022	2021
Gross income		1,698,646	1,506,441
Total expenditure	from income funds	1,542,162	1,368,382
Net income for	the year	156,484	138,059

						2022	2021
					Notes		f
Fixed assets
Tangible assets					16	9,040,800	11,380,967
Heritage assets					17	9,235,591	9,235,591
Investment	properties				18	29,036,000	17,069,093
Investments					19	2 601 266	2,793,547
						49,913,657	40,479,198
Current assets
Stocks					21	3,310	3,327
Debtors					22	121,304	153,310
Cash at bank and		in	hand			1,062,176	740,954
						1,186,790	897,591
Creditors:	amounts		falling due within		23
one year						(336,593)	(324,816)
Net current	assets					850,197	572,775
Total assets less		current liabilities				50,763,854	41,051,973
Creditors:	amounts		falling due after		24
more than	one year					(1,497,532)	(1,059,313)
Net assets						49,266,322	39,992,660
Capital funds
Endowment	funds	-	eneral
General endowment			funds			16,291,848	16,274,254
Revaluation	reserve					32,314,008	23,214,424
						48,605,856	39,488,678
Expendable	endowment					48,605,856	39,488,678
					28	48,605,856	39,488,678
Income funds
Unrestricted	funds
General unrestricted			funds			652,948	497,572
Funds retained within			non-charitable	subsidiaries		7,518	6,410
						660,466	503,982
						49,266,322	39,992,660

						2022	2021
					Notes		F
Cash flows from operating			activities
Cash absorbed by operations					35	(1,001,330)		(906,402)
Investing		activities
Purchase Proceeds		oftangible fixed assets on disposal oftangible		fixed		(75,300)	(104,084)
assets						7,150	2,000
Purchase		of investment property				(325,662)	(227,658)
Proceeds		on disposal of investment
property							448,385
Purchase Proceeds		ofother investments on disposal ofother	investments			(26,870) 56,828	(1,063,981) 1,099,930
Investment		income received				1,195,706	1,085,777
Net cash		generated from investing
activities						831,852		1,240,369
Financing		activities
Repayment		of borrowings				(11,375)	(15,000)
Proceeds		of new bank loans				500,000
Repayment		of bank loans				(25,159)
Payment	of obligations under		finance leases			27,234
Net cash	generated from/(used			in)
financing		activities				490,700		(15,000)
Net increase in cash and cash				equivalents		321,222		318,967
Cash and		cash equivalents at	beginning		ofyear	740,954		421,987
Cash and		cash equivalents	at end of		year	1,062,176		740,954
Relating to:
Bank balances and short term			deposits			1,062,176		740,954

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2022f	2022	2022	2021	2021 F	2021
Donations	and gifts			12,548	10,641	23,189	17,765	3,055	20,820
Grants receivable		for
core activities					1,200	1,200
Friends of	Stansted		Park
subscriptions				7,120		7,120	6,748		6,748
				19,668	11,841	31,509	24,513	3,055	27,568

			House and	House and	Forestry	Game income	Wood fuel	Total	Total
			garden				production	2022	2021
			opening
				2022	2022	2022	2022
Sales within		charitable
activities			55,966		173,161	1,500	11,366	241,993	210,695
Performance		related
grants					75,391		19,889	95,280	87,216
			55,966		248,552	1,500	31,255	337,273	297,911
Analysis by	fund
Unrestricted		funds	55,966		232,298	1,500	31,255	321,019	297,911
Restricted funds					16,254			16,254
			55,966		248,552	1,500	31,255	337,273	297,911
Performance		related	grants
Country and		parkland
restoration					75,391			75,391	61,889
Renewable	Heat Incentive						19,889	19,889	25,327
					75,391		19,889	95,280	87,216
For the year ended 31 December				2021
					House and	Forestry	Game income	Wood fuel	Total
					garden			production	2021
					opening
Sales within		charitable	activities		30,472	162,449	1,521	16,253	210,695
Performance		related grants				61,889		25,327	87,216
					30,472	224,338	1,521	41,580	297,911
Analysis by	fund
Unrestricted		funds			30,472	224,338	1,521	41,580	297,911

Charitable activities				(Continued)
Performance related grants Country and parkland restoration Renewable Heat Incentive		61,889	25,327	61,889 25,327
		61,889	25,327	87,216

Unrestricted	Unrestricted
funds	funds
2022	2021
131,962	92,640

Investments
	Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
	funds	funds		funds	funds
		general			general
		2022	2022		2021	2021
					F
Rental income	991,743		991,743	905,407		905,407
Income from listed
investments		15,936	15,936		12,348	12,348
Service charge income	181,291		181,291	161,916		161,916
Water income	4,109		4,109	5,866		5,866
Interest receivable	2,627		2,627	240		240
	1,179,770	15,936	1,195,706	1,073,429	12,348	1,085,777

		Unrestricted	Unrestricted
		funds	funds
		2022	2021
			F
Net gain on disposal oftangible fixed assets		5,762	1,241
Other income		12,370	10,430
Other Coronavirus	grants		3,222
		18,132	14,893

				Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
				funds	funds		funds	funds
					general			general
				2022	2022	2022	2021	2021	2021
		"'h
costs
Repairs and		maintenance		112,189		112,189	152,911		152,911
Premises	costs			120,002		120,002	96,052		96,052
Other costs				20,245		20,245	18,881		18,881
Staff costs				148,497		148,497	150,792		150,792
Depreciation		and
impairment				1,188		1,188	264
Investment	property
costs				402,121		402,121	418,900		418,900
Events ex	enditure
Operating	trading
company	undertaking
non-charitable		trading
activity				61,675		61,675	37,172		37,172
Other costs				1,026		1,026
Staff costs				15,184		15,184	11,360		11,360
Events expenditure				77,885		77,885	48,532		48,532
Investment	mana		ement		3,894	3,894		6,296	6,296
				480,006	3,894	483,900	467,432	6,296	473,728

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Supportcosts
	Support	Governance		Support	Governance
	costs	costs		costs	costs
				E
Staff costs	208,502		208,502	195,827		195,827
Depreciation	8,720		8,720	2,764		2,764
Repairs and
maintenance	3,012		3,012	2,928		2,928
Premises costs	82,008		82,008	65,908		65,908
Other costs	137,558		137,558	133,526		133,526
Audit fees		4,600	4,600		4,400	4,400
Accountancy		5,735	5,735		5,550	5,550
	439,800	10,335	450,135	400,953	9,950	410,903
Analysed between
Charitable activities	439,800	10,335	450,135	400,953	9,950	410,903

				2022	2021
				Number	Number
Management
Administration
Other - full time
Other - part time
				14	16
Employment	costs			2022	2021
					E
Wages and salaries				430,881	424,251
Social security	costs			43,082	36,984
Other pension	costs			13,731	12,468
Housing costs	and expenses for the Director ofthe Foundation			47,414	46,230
Stewards', volunteers'		and staff expenses	and training	27,070	9,455
				562,178	529,388

were:
			2022	2021
			Number	Number
2110,000	-	2120,000		1
5120,000	-	6130,000

Revaluation	of	investments
Gain/(loss)	on	sale of investments
Revaluation	of	investment	properties
Gain/(loss)	on	disposal of	investment	properties

Endowment	Endowment
funds	funds
general	general
2022	2021
	F
(160,732)	247,923
(1,591)	2,643
11,641,245
	116,077
11,478,922	366,643

Tangible fixed assets
		Freehold	Land	Plant and	Fixtures, Motor vehicles		Total
		and buildings		machinery	fittings &
					equipment
						E
Cost or valuation
At 1 January 2022		11,203,994		602,430	180,610	92,807	12,079,841
Additions			2,792	30,498	16,685	25,325	75,300
Disposals				(900)		(16,677)	(17,577)
Revaluation		(2,373,786)					(2,373,786)
At 31 December 2022		8,833,000		632,028	197,295	101,455	9,763,778
Depreciation and impairment
At 1 January 2022				494,965	117,380	86,529	698,874
Depreciation charged	in the year			20,618	11,989	7,686	40,293
Eliminated in respect ofdisposals				(372)	-	(15,817)	(16,189)
At 31 December 2022				515,211	129,369	78,398	722,978
Carrying amount
At 31 December 2022		8,833,000		116,817	67,926	23,057	9,040,800
At 31 December 2021		11,203,994		107,465	63,230	6,278	11,380,967

leases (2021	or hire purchase contracts. The depreciation - rr=) for the year.	charge in respect of such assets amounted	to F7,870
		2022	2021
		E
Plant	and machinery	20,230
Motor	vehicles	12,900
		33,130

				2022
Fair value
At 1 January 2022				17,069,093
Additions	through	external	acquisition	325,662
Net gains	or losses through		fair value adjustments	11,641,245
At 31 December 2022				29,036,000

			2022	2021
Cost			7,203,106	6,877,444
Accumulated		depreciation
Carrying	amount		7,203,106	6,877,444

		Listed	Cash in	Other	Total
		investments	portfolio	investments
Cost or valuation
At 1 January 2022		2,767,309	26,236		2,793,547
Additions		22,088	4,782		26,870
Valuation changes		(160,732)			(160,732)
Disposals		(43,478)	(14,941)		(58,419)
At 31 December 2022		2,585,187	16,077	2	2,601,266
Carrying amount
At 31 December 2022		2,585,187	16,077	2	2,601,266
At 31 December 2021		2,767,309	26,236	2	2,793,547
				2022	2021
Other investments	comprise:		Notes
Investments in subsidiaries			34


Financial		instruments			2022f	2021
Carrying	amount of		financial assets
Instruments		measured	at fair value through	profit or loss	2,585,187	2,767,309

21	Stocks				2022	2021
					f	f
	Stock of guide	books			3,310	3,327
22	Debtors
					2022	2021
	Amounts falling due		within one year:
	Trade debtors				89,034	124,688
	Other debtors				3,487	3,389
	Prepayments	and accrued income			28,783	25,233
					121,304	153,310
23	Creditors: amounts		falling due within one year
					2022	2021
				Notes
	Bank loans			25	48,768	10,000
	Obligations under finance leases			26	10,667
	Other borrowings				10,000	10,000
	Other taxation	and social security			26,925	37,550
	Trade creditors				112,082	105,622
	Other creditors				45,985	57,267
	Accruals and	deferred	income		82,166	104,377
					336,593	324,816
24	Creditors: amounts		falling due after more than one year
					2022	2021
				Notes
	Bank loans			25	1,477,445	1,039,313
	Obligations under finance leases			26	16,567
	Other borrowings				3,520	20,000
					1,497,532	1,059,313

			2022	2021
				f.
Bank loans			1,526,213	1,049,313
Directors'	loans		13,520	30,000
			1,539,733	1,079,313
Payable	within one year		58,768	20,000
Payable	after one year		1,480,965	1,059,313
Amounts	included	above which fall due after five years:
Payable	by instalments		176,900
Payable	other than	by instalments	1,005,438	1,004,313
			1,182,338	1,004,313

					2022
Within	one	year			10,667
Within	two	and	five	years	16,567
					27,234

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Name of	undertaking	undertaking	country of	Nature ofbusiness		Class of	% Held
incorporation		or residency				shareholding	Direct Indirect
Stansted	Park	Events	England	Functions at Stansted	Park	Ordinary
Limited -	Company no.
03435921							100.00
Stansted Company	Park no.	Limited- 2017292	England	Dormant		Ordinary	100.00

Name of	undertaking	Profit/(Loss)	Capital and
			Reserves
		F
Stansted	Park Events
Limited -	Company no.
03435921		30,699	7,520
Stansted	Park Limited-
Company	no. 2017292		(64,592)

	and has funds ofE7,520.The company's is F30,699.	tu	rnover is F1	31,962, expenditur	e is 6101,265 and profit	for the year
35	Cash generated from operations				2022 E	2021 f
	Surplus for the year				11,647,448	510,754
	Adjustments for:
	Investment income recognised in statement		offinancial	activities	(1,195,706)	(1,085,777)
	Gain on disposal oftangible fixed assets				(5,762)	(1,241)
	Gain on disposal of investment property					(116,077)
	Loss/(gain) on disposal ofinvestments				1,591	(2,643)
	Fair value gains and losses on investment		properties		(11,641,245)
	Fair value gains and losses on investments				160,732	(247,923)
	Depreciation and impairment oftangible	fixed assets			40,293	28,023
	Movements in working capital:
	Decrease in stocks				17	8
	Decrease/(increase) in debtors				32,006	(42,699)
	(Decrease)fincrease in creditors				(37,162)	50,048
	(increase)/decrease in loan set up fee prepaid				(3,542)	1,125
	Cash absorbed by operations				(1,001,330)	(906,402)

Analysis ofchanges in net (debt)/funds	Analysis ofchanges in net (debt)/funds
		At 1 January	Cash Rows	At 31 December
		2022		2022
		E	f	F
Cash at bank and	in hand	740,954	321,222	1,062,176
Loans falling due	within one year	(20,000)	(38,768)	(58,768)
Loans falling due	after more than one year	(1,059,313)	(421,652)	(1,480,965)
Obligations under	finance leases		(27,234)	(27,234)
		(338,359)	(166,432)	(504,791)