|TRUSTEES' REPORT||||
|---|---|---|---|
|LEGAL AND ADMINISTRATIVE||INFORMATION||
|STRUCTURE, GOVERNANCE|AND MANAGEMENT||10|
|FINANCIAL<br>RESULTS|||12|
|STATEMENT OF TRUSTEES'|RESPONSIBILITIES||14|
|INDEPENDENT AUDITOR'S|REPORT||15|
|ANNUAL ACCOUNTS 2020||||
|CONSOLIDATED<br>STATEMENT||OF FINANCIAL ACTIVITIES|19|
|CONSOLIDATED AND CHARITY BALANCE SHEETS|||20|
|CONSOLIDATED<br>STATEMENT||OF CASHFLOVVS|21|
|NOTES TO THE ACCOUNTS|||22 - 36|





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|OR THE YEAR ENDE|D 31|DECEM|BER 2020 (Inc|orporating<br>In|come and Ex|penditure<br>A|ccount)|
|---|---|---|---|---|---|---|---|
|||||2020|||2019|
||||Unrestricmd<br>A Designated<br>Funds|Restricted<br>Funds|Endowment<br>Funds|Total<br>Funds|Total<br>Funds|
|||N||||||
|INCOME AND ENDOWMENTS||FROM:||||||
|Donations<br>and legacies|||364,981|109,500||474,481|355,588|
|Charitable<br>acthdtles||||||||
|Public open days and learning|||87,720|||87,720|510,166|
|House conservation|||8,470|||8,470||
|Festival|||14,180|||14,180|282,610|
|Grants<br>and donations|||739,095|430,583||1,169,678|46,405|
||||849,465|430,583||1,280,048|839,181|
|Other trading activities||||||||
|Friends snd Patrons|||60,709|||60,709|56,204|
|Shop snd cafe|||198,647|||198,647|672,430|
|Other acdvidas for ganaradng<br>funds|||64,119|||64,119|27,042|
||||323,475|||323,475|755,676|
|Interest receivable|||174|||174|455|
|TOTAL INCOME AND<br>ENDOWMENTS|||1,530,095|540,083||2,078,178|1,950,900|
|EXPENDITURE ON:||||||||
|Raising Funds||||||||
|Fundraising|||116,331|21,853||138,184|82,135|
|Friends snd patrons|||34,775|6,533||41,308|44,426|
|Shop and cafe|||338,142|63,520||401,662|744,418|
|Other costs ofgenerating|funds||25,967|4,878||30,845|14,433|
||||515,215|96,784||611,999|885,412|
|Charitable<br>activities||||||||
|Public open days and learning|||283,278|70,753||354,031|640,107|
|House conservation|||68,516|62,127||130,643|136,721|
|Festival|||167,398|31,446||198,844|392,793|
||||519,192|164,326||683,518|1,169,621|
|TOTAL EXPENDITURE||s|I 03<br>407|2II I 110||I 295517|2,055 033|
|NET INCOME l(EXPENDITURE)<br>FOR THE YEAR|||503,688|278,973||782,661|(104,133)|
|TRANSFERS BETWEEN FUNDS|||(5,824)|5,824||||
|NET MOVEMENT IN FUNDS|||497,864|284,797||782,661|(104,133)|
|TOTAL FUNDS BROUGHT FORWARD|||7,095,143|1922157|208,177|7,496,177|7,600,310|
|TOTAL FUNDS CARRIED||||||||
|FORWARD|||7,593,007|477,654|208,177|8,278,838|7,496,177|





## 

||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
|||||E|||
|||Notes|||||
|Fixed Assets|||||||
|Tangible Assets||IO|6,332,4 I7|6,518,098|6,316,434|6,496,143|
|Heritage<br>Assets||II|1,001,941|962,691|1,001,941|962,691|
|Investment<br>in Subsidiary||I2|||2||
|Company|||||||
||||7,334,358|7,480,789|7,318,377|7,458,836|
|Current Assets|||||||
|Stock|||72,218|128,703|||
|Debtors|||240,467|69,908|480,729|66,946|
|Cash at Bank and in|Hand||971,962|288,853|705,987|226,667|
||||1,284,647|487,464|1,186,716|293,613|
|Liabilities|||||||
|Creditors: amounts<br>within one year|falling due|I5|(220,167)|(405,076)|(175,385)|(377,233)|
|Net Current<br>Assetsl(Liabilities)|||1,064,480|82,388|1,011,331|(83,620)|
|Total Assets less current<br>liabilities|||8,398,838|7,563,177|8,329,708|7,375,216|
|Creditors: amounts<br>after one year|falling due|I6|(120,000)|(67,000)|(120,000)|(67,000)|
|Total Net Assets|||8,278,838|7,496,177|8,207,708|7,308,216|
|Funds ofthe charity|||||||
|Endowment<br>Funds|||208,177|208,177|208,177|208,177|
|Restricted<br>Income Funds|||477,654|192,857|477,654|192,857|
|Unrestt icted and Designated|||7,593,007|7,095,143|7,523,877|6,907,182|
|Funds|||||||
|Total Funds||l7|8,278,838|7,496 177|8,209,708|7308216|





## 

## 

|||||||2020|2019|
|---|---|---|---|---|---|---|---|
||||||||6|
|Cashflows from operating<br>activities||||||||
|Net cash provided<br>by or (used in) operating||activities||||702,465|(729,502)|
|Cashflows from investing<br>activities||||||||
|Dividends<br>and interest<br>received||||||174|455|
|Purchase offixed assets||||||19,530|21,130|
|Net cash (used in)l provided|by investing||activities|||(19,356)|(20,675)|
|Cashiiows from financing<br>activities||||||||
|Cash inflows from new borrowing|||||||120,000|
|Change<br>in cash and cash equivalents||||||683,109|(630,177)|
|Cash and cash equivalents<br>atthe beginning||ofthe period||||288,853|919,030|
|Cash and cash equivalents<br>at the end||ofthe||period||971,962|288,853|
|RECONCILIATION<br>OF NET INCOME(EXPENDITURE)|||||TO NET|||
|CASHFLOW FROM OPERATING ACTIVITIES||||||||
|||||||2020|2019|
||||||||E|
|Net income (expenditure)<br>for the reporting||pei|iud|||782,661|(104,133)|
|Adjustments<br>for:||||||||
|Depreciation<br>charges||||||187,211|186,878|
|Dividends,<br>interest<br>and rents||||||(174)|(455)|
|Donation of Heritage Assets||||||(21,250)|(215,000)|
|Decrease (Increase)<br>in stock||||||56,485|(38,070)|
|(Increase) Decrease<br>in debtors||||||(366,914)|358,572|
|Increase (Decrease)<br>in creditors||||||64,446|(917,294)|
|Net cash provided<br>by l(used in)|operating||activities|||702,465|729,502|
|ANALYSIS OF CHANGES<br>IN|NET DEBT|||||||
|||I)anuary 2020||||Cashflows|31 December 2020|
||||||E|6|6|
|Cash and Cash Equivalents||||288,853||683,109|971,962|
|Loans: amounts<br>falling due within<br>one year|||(53,000)|||53,000||
|Loans: amounts<br>falling due after<br>more than one year|||(67,000)|||(53,000)|(120,000)|
|Total||||168853||683,109|851 962|





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## 

|||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|
|||2020|2020|2020|2019|
||||6|||
|Donations|and grants|||||
|ofa general|nature|344,981|109,500|454,481|344,588|
|Legacies||20,000||20,000|11,000|
|||364,981|109,500|474,481|355,588|



## 

||Public Open||Emergency||||
|---|---|---|---|---|---|---|
||Days and|House|and Reopen||||
||Learning|Conservation|Charleston|Acquisitions|Total|Total|
||2020|2020|2020|2020|2020|2019|
||6|||6||6|
|Government|||||||
|Funding|||||||
|National<br>Heritage|||||||
|Lottery Fund|||234,100||234,100||
|Arts Council<br>England|||224,995||224,995||
|Coronavirus<br>job|||||||
|Retention<br>Scheme|||204,878||204,878||
|Lewes District Council|||||||
|Retail Leisure &|||||||
|Hospitality<br>grant|||25,000||25,000||
|Historic<br>England|||33,333||33.333||
|Trusts and|||||||
|Foundations|||||||
|Wolfson Foundadon|||145,000||145.000||
|Art Fund|||94,464|6,000|100,464|5,625|
|Bloomberg|||||||
|Philanthropies|50,000||10,000||60,000||
|Sigrid Reusing<br>Foundadon||12,500|30,000||42,500||
|Chalk Cliff Trust|||30,000||30,000||
|Rothschild<br>Foundadon|25,000||||25,000||
|Paul Mellon<br>Fund|10,000||||10,000||
|Rockefeller Foundation||||||19,611|
|||||||25|





## 

|Artisa Foundation||||||||9,000||
|---|---|---|---|---|---|---|---|---|---|
|Henry Moore Fund|||||||9,000|9,000||
|Royal Oak Foundadon||||6,068||||6,068||
|Victoria and Albert<br>Museum|||||||||6,000|
|Other grants|||||9465||875|10340|IS 169|
|||85,000|27,568||I 041 235||15,875|I 169678|46405|
|4. INVESTMENT INCOME||||||||||
|||||||2020|||2019|
|Interest receivable||||||174|||455|
|5.TOTAL EXPENDITURE||||||||||
|||Direct staff<br>COStS||Direct costs||Support<br>Costs||Total|Total|
||||2020||2020|2020||2020|2019|
|||||||E||E|E|
|Raising funds||||||||||
|Fundraising|||80,620||9,008|48,557||138,185|82,136|
|Friends & Patrons|||22,569||4,223|14,515||41,307|44,427|
|Shop &cafe|||198,170||62,350|141,141||401,661|744,418|
|Other costs ofgenerating|funds||19,893||114|10,839||30,846|14,431|
|Charitable<br>activities||||||||||
|Public open days & learning|||182,683||46,944|124,403||354,030|640,107|
|The Charleston<br>Festival|||104,034||24,938|69,872||198,844|392,792|
|House conservation|||65,477||19,260|45,907||130,644|136,722|
|Total expenditure|||673,446||166,837|455,234|1.295,517||2,055,033|



|costs ofE89|,840 within<br>'S|upport c|osts' set out in n|ote 6.|||
|---|---|---|---|---|---|---|
||||Direct staff<br>costs|Direct costs|Support<br>costs|Toial|
||||2019|2019|2019|2019|
|||||E|f.|E|
|Raising funds|||||||
|Fundraising|||48,136|12,220|21,779|82,135|
|Friends & Patrons|||24,890|7,756|11,781|44,427|
|Shop &cafe|||211,790|335,234|197,394|744,418|
|Other costs|ofgenerating|funds|9,756|849|3,826|14,431|
|Charitable|activities||||||
|Public open|days & learning||298,801|171,729|169,577|640,107|
|House conservation|||79,465|21,003|36,254|136,722|
|The Charleston<br>Festival|||112,210|176,427|104,155|392,792|





|Total expenditure|785,048|725,218|544,766|2,055,032||
|---|---|---|---|---|---|
|6.ANALYSIS OF SUPPORT COSTS||||||
|||||2020|2019|
|||||E||
|Staff costs||||89,840|127,158|
|Other costs||||365,394|417,608|
|||||455,234|544,766|



## 

|Net income/(expendi|ture)|for the|year is stated after charging:|||
|---|---|---|---|---|---|
|||||2020|2019|
|Auditors'<br>remuneration:||||||
|Audit ofthe Charity|(current|||||
|year)||||11,650|11,100|
|Audit ofthe Charity|(re|previous|year)|1,552||
|'Audit ofsubsidiary|(current|||||
|year)||||2,750|2,750|
|Non-audit<br>fees (current||year)||5,996|3,685|
|Non-audit<br>fees re previous year||||116|1,940|
|Depreciation<br>offixed assets||||187,211|186,878|
|Operating<br>lease rentals||in respect|ofequipment|4,106|4,106|
|8.STAFF COSTS||||||
|||||2020|2019|
||||||E|
|Salaries and wages||||626,101|845,758|
|Social security costs||||47,714|50,120|
|Pension costs||||14,615|16,328|
|Redundancy<br>costs||||16,645||
|||||705,075|912,206|






## 

## 

## 

||Freehold|||||
|---|---|---|---|---|---|
||land and|Leasehold<br>land|Portable|Fixtures, fittings||
||Buildings|and Buildings|office cabins|and equipment|Total|
|Cost or Valuation||||||
|I January 2020|225,000|6,478,748|10,888|227,390|6,942,026|
|Additions||||1,530|1,530|
|31 December 2020|225,000|6,478,748|10,888|228,920|6,943,556|
|Depreciation||||||
|I January 2020||300,790|10,888|112,250|423,928|
|Charge for the year||150,395||36,816|187,211|
|31 December 2020||451,185|10,888|149,066|611,139|
|Net BookValue||||||
|31 December 2020|225,000|6,027,563||79,854|6,332,417|
|31 December 2019|225,000|6,177,958||115,140|6,518,098|
||||||28|





## 

||Freehold|||||
|---|---|---|---|---|---|
||Land and|Leasehold<br>Land|Portable|Fixtures, gttings||
||Buildings|and Buildings|office cabins|and equipment|Total|
|Cost or Valuation||||||
|Ijanuary 2020|225,000|6,478,748|10,888|190,991|6,905,627|
|Additions||||1,530|1,530|
|31 December 2020|225,000|6,478,748|10,888|192,521|6,907,157|
|Depreciation||||||
|l)anuary 2020||300,790|10,888|97,806|409,484|
|Charge for the year||150,395||30,844|181,239|
|31 December 2020||451,185|10,888|128,650|590,723|
|Net Book Value||||||
|31 December 2020|225,000|6,027,563||63,871|6,316,434|
|31 December 2019|225,000|6,177,958||93,185|6,496,143|



## 

||Group and|Group and|Group and|Group and|Group and|
|---|---|---|---|---|---|
||charity|charity|charity|charity|charity|
||2020|2019|2018|2017|2016|
|||f||||
|Cost or valuation||||||
|Brought forward|962,691|735,411|138,365|138,365|5,365|
|Additions|21,250|227,280|||89,000|
|donated||||||
|Additions|18,000||597,046||44,000|
|purchased||||||
|Carried forward|1,001,941|962,691|735,411|138,365|138,365|





## 

## 

|||2020|2019|
|---|---|---|---|
|Sales||200,800|687,374|
|Cost ofsales||(108,959)|(290,450)|
|Gross Profit||91,841|396,924|
|Administrative<br>expenses||(48,951)|(240,807)|
|Net profit for the year before donation||42,890|156,117|
|Gift Aid donadon to the|Charity|(161,722)|(84,298)|
|Profit (loss) on ordinary<br>after taxation|activities before and|(118,832)|71,819|



|||2020|2019|
|---|---|---|---|
||||f|
|Tangible<br>Fixed Assets||15,983|21,955|
|Current Assets||347,651|247,214|
|Creditors: amounts<br>falling due within one<br>year||(294,503)|(81,207)|
|Total assets less current|liabilities|69,131|187,962|
|Represented<br>by||||
|Share capital and reserves||69,131|187,962|





## 

## 

|13.STOCK||||||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Charity|Charity|
|||||2020|2019|2020|2019|
|Goods for resale||||72,218|128,704|||
|14.DEBTORS||||||||
||||Group||Group|Charity|Charity|
||||2020||2019|2020|2019|
|Trade debtors|||9,728||1,668|780|274|
|Amounts<br>due from<br>subsidiary<br>company||||||249,720||
|Other debtors|||23,418||10,203|23,418|8,635|
|Taxation and|social security||35,318||10,759|35,319|10,759|
|Prepayments<br>income|and accrued||172,003||47,278|171,492|47,278|
||||240,467||69,908|480,729|66,946|
|15.CREDITORS: AMOUNTS|||FALLING DUE|WITHIN|ONE YEAR|||
||||Group||Group|Charity|Charity|
||||2020||2019|2020|2019|
||||E||E|||
|Trade creditors|||93,397||147,487|85,372|100,429|
|Amounts<br>due <br>companies|to subsidiary||||||53,364|
|Taxation<br>and <br>secudty|social||31,699||31,325|15,174|14,710|
|Other creditors|||33,913||9,761|24,827|7,270|
|Loans repayments||due|||53,000||53,000|
|Accruals and|deferred|||||||
|income|||61,158||163,503|50,011|148,460|
||||220,167||405,076|175,384|377,233|



|he movem<br>elow|ent<br>on deferred<br>income included<br>with|in creditors amounts<br>falling due wit|hin one year is analysed|
|---|---|---|---|
|||Group and Charity|Group and Charity|
|||2020|2019|
|||E||
|Deferred|income:|||
|Balance at|I January 2020|19,292|7,717|
|Amounts|released from previous years|(I9,292)|(7,717)|
|Incoming resources deferred||26,190|19,292|
|Balance at|31 December 2020|26,190|19,292|





## 

## 

||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
||||||f||
|Loan <br>within|repayments<br>due<br> one to two years||20,000|36,000|20,000|36,000|
|Loan <br>within|repayments<br>due<br> three to five years||100,000|31,000|100,000|31,000|
||||120,000|67,000|120,000|67,000|



## 

|||||I January<br>2020|Income|Expenditure|Transfers|31 December<br>2020|
|---|---|---|---|---|---|---|---|---|
||||||6|6|||
|Unrestricted<br>Funds|||||||||
|General||||7,095,143|1,508,095|(1,034,407)|(5,824)|7,563,007|
|||||7,095,143|1,508,095|(1,034,407)|(5,824)|7,563,007|
|Designated||Funds|||||||
|Chalk Cliff|||||30,000|||30,000|
||||||30,000|||30,000|
|Restricted||Funds|||||||
|House Conservation||||1,594||(594)||1,000|
|Acquisition|Fund|||13,163|15,875|(2,454)|(18,000)|8,584|
|Coronavirus||Job Retention|Fund||204,878|(204,878)|||
|Reopen Charleston|||||203,964|||203,964|
|Charleston|Festival||||||||
|Asham<br>Literary<br>Fund||||135,828||||135,828|
|Other restricted<br>funds||||42,272|115,366|(53,184)|23,824|128,278|
|||||192,857|540,083|(261,110)|5,824|477,654|
|Endowment||Funds|||||||
|Permanent||||133,000||||133,000|
|Expendable||||75,177||||75,177|
|||||208,177||||208,177|
|Total Funds||||7,496,177|2,078,178|(1,295,517)||8,278,838|





## 

|||||Ijanuary<br>2019|Income|Expenditure|Transfers|31 December<br>2019|
|---|---|---|---|---|---|---|---|---|
|Unrestricted|||Funds||||||
|General||||7,162,542|1,862,237|(1,945,651)|16,015|7,095,143|
|||||7,162,542|1,862,237|(1,945,651)|16,015|7,095,143|
|Restricted||Funds|||||||
|House Conservation||||1,309|7,846|(21,844)|14,283|1,594|
|Acquisition|Fund|||6,678|23,500||(17,015)|13,163|
|Education||||30,719|1,010|(31,729)|||
|Charleston|Festival||||15,758|(45,758)|30,000||
|Asham<br>Literary|||Fund|165,828|||(30,000)|135,828|
|Other restricted|||funds|25,057|40,549|(10,051)|(13,283)|42,272|
|||||229,591|88,663|(109,382)|(16,015)|192,857|
|Endowment||Funds|||||||
|Permanent||||133,000||||133,000|
|Expendable||||75,177||||75,177|
|||||208,177||||208,177|
|Total Funds||||7,600,310|1,950,900|(2,055,033)||7,496,177|





## 

## 

||||Liabilities||||Liabilities||
|---|---|---|---|---|---|---|---|---|
||||falling||||falling||
||Tangible<br>Fixed|Net<br>Current|due in<br>more|Total|Tangible<br>Fixed|Net<br>Current|due in<br>more|Total|
||Assets|Assets|than one||Assets|Assets|than one||
||||year||||year||
||2020|2020|2020|2020|2019|2019|2019|2019|
||E|E||E|||||
|Unrestricted|||||||||
|Funds|||||||||
|General|7,126,181|556,826|(120,000)|7,563,007|7,272,611|(110,468)|(67,000)|7,095,143|
|Designated||30,000|-|30,000|||||
||7,126,181|586,826|(120,000)|7,593,007|7,272,611|(110,468)|(67,000)|7,095,143|
|Restricted<br>Funds||477,654||477,654||192,857||192,857|
|Endowment<br>Funds|208,177|||208,177|208,177|||208,177|
|Total Funds|7,334,358|1,064,480|(120,000)|8,278,838|7,480,788|82,388|(67,000)|7,496,177|





## 

## 

|19.LEASE COMMITMENTS|19.LEASE COMMITMENTS|19.LEASE COMMITMENTS|||||
|---|---|---|---|---|---|---|
|At 31 December 2020the Charity|||had the following commitments|payable reladng to non-cancellable||leases:|
|||||2020||2019|
|Operating|leases in|respect of|||||
|equipment|||||||
|Payable<br>in|one year|||4,106||4,106|
|Payable<br>in|the second to fifth year|||4,106||8,213|
|Rent payable under||long lease of land|||||
|and buildings|||||||
|Payable<br>in|one year|||330||330|
|Payable<br>in|the second to fifth year|||1,320||1,320|
|Payable after gve years||||28,380|28,710||
|||||38,242|42,679||



## 

## 



## 

## 

|||||||2019|||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted<br>Funds|Restricted Funds|Endowment<br>Funds|TMN Funds|
||||||6||6|6|
|INCOME AND ENDOWMENTS||||FROM:|||||
|Donations<br>and legacies|||||329,000|26,500||355,588|
|Charitable<br>activities|||||||||
|Public open days and learning|||||510,166|26,059||536,225|
|House conservation||||||7,846||7,846|
|Small Wonder|||||||||
|Charleston<br>Centenary|Project||||||||
|Acquisitions||||||12,500||12,500|
||||||510,166|46,405||556,571|
|Other trading activities|||||||||
|Friends and Patrons|||||5&,204|||56,204|
|Festival|||||266,852|15,758||282,610|
|Shop and cafe|||||672,430|||672,430|
|Other activities for generating|||funds||27,042|||27,042|
||||||1,022,528|15,758||1,038,286|
|Investments|||||455|||455|
|TOTAL INCOME AND<br>ENDOWMENTS|||||1,862,237|88,663||1,950,900|
|EXPENDITURE ON:|||||||||
|Raising Funds|||||||||
|Fundraising|||||82,135|||82,135|
|Friends and patrons|||||44,426|||44,426|
|Festival|||||347,035|45,758||392,793|
|Shop and cafe|||||744,418|||744,418|
|Other costs ofgenerating||funds|||14,433|||14,433|
||||||1,232,447|45,758||1378,205|
|Charitable<br>actnrities|||||||||
|Public open days and learning|||||597,733|41,780||639,513|
|House mnservation|||||114,877|21,044||136,721|
|Small Wonder|||||594|||594|
|Charleston<br>Centenary|Project||||||||
||||||713,21H|63,624||776,828|
|TOTAL EXPENDITURE|||||I 945 651|109382||2 055 033|
|NET (EXPENDITURE)/INCOME<br>YEAR||FOR||THE|(83,414)|(20,719)||(104,133)|
|TRANSFERS BETWEEN FUNDS|||||16,015|(16,015)|||
|NET MOVEMENT IN FUNDS|||||(67,399)|(36,734)||(104,133)|
||||||7,162,542|229,591|208, 177|7,600,310|
|TOTAL FUNDS CARRIED|||||||||
|FORWARD|||||7,095,143|192,857|208,177|7,496,177|