REGISTERED COMPANY NUMBER.. 05321203 (England and Wales}
REGISTERED CHARITY NUMBER: 1107844
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
PAINSWICK ROCOCO GARDEN TRUST
(Pain￿'ek
ococo
Qardelf
BK Plus Limited
6 Manor Park Business Centre
Mackerizie Way
Chellenham
Gloucestershire
CL51 9TX

PAINSWICK ROCOCO GARDEN TRUST
CONTENTS OFTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Paye
Relerence and Adminislratlve Details
Chairman's Reporl
Report of the Trustees
IndependÈnt Examiner's Reporl
10
Slalemenl of Financial Activllies
Statement of Financial Position
12 to 13
Slatemenl of Cash Flows
14
Noles tp the Slalèment of Cash Flows
15
Noles lo the Financial Statements
16 10 26

PAINSWICK ROCOCO GARDEN TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THEYEAR ENDED 31 L)ECEMBER 2023
TRUSTEES
Mr M J Carlwrighl Iresigned 27.3.241
Mr D A W Hardie
Dr M Doble
Ms F L Grislock
Ms V Aspinall
MsMTMako
Ms C R Sinclalr (resigned 16.2.241
Ms G Stolen
Mr C Scoll
Mr R Balkwill (appointed 27.3.24>
Mrs K A Macdull (appointed 27.3.2AJ
COMPANY SECREfARY
Mr D P HamillDn
REGISTERED OFFICE
Painswick Rococo Garden Trusl
Gloucester Road
Painswick
Gloucestershire
GL6 6TH
REGISTERED COMPANY NUMBER 05321203 IEng12nd and Wales)
REGISTERED CHARITY NUMBER 1107844
INDEPENDENT EXAMINER
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Chellenham
Gloucestershire
GL519TX
Page I

PAINSWICK ROCOCO GARDEN TRUST
CHAIRMAN'S REPORT
FOR THEYEAR ENDED 31 DECEMBER 2023
In many ways 2023 was one ol the Trust's most succèsslul yèars with a record number ol visitors. Just over
63,000 in lolal which is a delighllul aflirmalion ol the Garden's continuing appeal. We also sellled into our
new temporary visitor facilities which are serving us and our visitors very well. We have tailored our
operating mDdel to accommodate thèse changes which, again, is proving very successful.
Aller three years of significant change il is particularly pleasing lo be entering a period Df relalive stability
and Calm. This provides thp perfect platform for developing and implementing our lulure plans. We Clearly
have furthèr work to do bul l am confident that in 2D23 we have further strengthened our charity's
loundalions.
Delighllully we have introduced a number of new inilialives including our very Successful winlpr opening.
'The Enchanted Garden by Night This olferecl a very slylish display ol wintÈr lights ik) the Garden during
December and January. In addition a number of new event5 were added lo the summer programme. These
included an opera night, a wine lasting, and an evening ol improvised Ihealre. All of thèsè Èvents have
broadened our appeal whi151 aflording vi5ilors a different appreciation of the Garden.
We conllnued lo Invest in the general maintenance ol the Garden. Specifically we have recruited an
additional parl-lime seasonal gardener, hosted a record number of corporate volunteering groups. and
eonlinued the locus by our èxpèrt team of gardeners on delivering our Conservation Management Plan.
Dur trading arm had a successful year with both our Café and aur Shop adapting very well lo their new
temporary setup. Our partnership with Exedra Nursery also continues to go from slrenglh lo strength
providing a valuable addition lo the onsite retail ollering as well as popular horlicullural events.
l anlicipale 2024 being a year ol consolidation and conlinualion ol slrenglhenlng our foundations as we plan
lor the ¢h3rily's long-lerm lultjre.
I continuÈ lo be grateful to our devoted staff, our volunteers and my fellow Trustees.
l am particularly grateful to our Garden Dlreclor and Head Gardener whose hard work, wisdom and calming
approach have seen the Trust and the Garder¢ Ihrouyh yel another successful year.
Finally, I musl thank Ihase whose CDnlinued financial support allows us lo preserve this horticultural gem,
Painswick Rococo Garden, for Ihe present and fulure enjoyment of the general public.
David Hardle
Page 2

PAINSWICK ROCOCO GARDEN TRUST
REPORT OFTHETRUSTEES
FOR THEYEAR ENDED 31 DECEMBER 2023
The Trustees (who are also directors ol the charity lor the purpose5 01 the Companies Acll preserbt their
annual report together with the financial slalemenls ol Painswick Rococo Garden Trust Ilhe Company) lor
the period l January 2023 Ip 31 December 2023. The Trustees, Report salisfies the requirement for a
Director's Report under company law.
Background
Painswick Rococo Garden is a wonderful example of English 18th century bravado by the upper middle
cla55 of the day. Designed and laid out in the 1740s, the Garden is the Country's sole surviving ¢omplelè
rococo gardèn. 11 was the creation ol the Hyell family and designed as a fashlon slalemenl amongst the
well-lo-do and embodied the design style of the day. Dotted with follies of different archileclural slyles, il is
Grade Il" listed, containing nine Grade Il. listed buildings.
Sadly, the rococo fashion was short Ilved, and Ihe garden entered a period of negletl until in 1984, when ihe
then owners Lord and Lady Dickinson embarked on a wholesale resloralion. The Garden was first opened
ID the public in 1988 and was eventually gilled lo Painswick Rococo Garden Trust by thè latè Lord and Lady
Dickinson for its legacy lo continue in perpeluily. Today, it is a key visSlor allraclion in Glou¢eslershir& and
is owned and managed by a tharilable Irtsst.
The Company is Ihe sole shareholder of Painswick Garden Eslale Limited IPGELI which operales as the
trading arm ol the Company, PGEL operates the commercial activities al the Garden including the calé,
shDP, weddings and events. All profil made by Painswick Garden Eslale Limited is donated as gill aid to
support the charitable aim5 Of Painswick Rococo Garden Trust.
In 2022. the long-lerm lease on the Coach House, where the Garden's shop, cafe and offices had been
housed lor 34 years, wa5 lerminaled al short nolice. The Trust moved lo land owned by the charity adjacent
ID the historic Garden and témporary facililies lor visitors and slafl were quickly organised in order to
ensure Ihal the Garden could remain open lo the public. A relrospeclive planning application was submilled
in late 2022. Planning approval was received on 17 July 2024.
Page 3

PAINSWICK ROCOCO GARDEN TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Objeclive5 a#d aims
Public Benefit
The Trusleeg confirm that they have complied with Ihe requirements of section 4 01 the Charities Act 2011 19
have due regard Ip the public benefit guiLlance publishéd by Ihe Charity Commission lor England and Wales.
Following the lilting of COVID reslriclions Ihe Trust has been gradually 3blÉ ID rèinstate pre-COVID
activities and organise new events, lo ensure the ongoing lullilmenl of ils charitable objects.
b. PoliciÉs and Objectivès
The Trust's principal objectives remain to promote for the benefit ol the publi£ the preservation,
maintenance and improvemenl ol the P8inswick Rococo Garden and any structurès or buildings contained
therein as a place ol historic and ecological interest and beauty, and lo advance the education ol the public
into the history of the Painswick Rococo Garden and natural history and into horticulture and other related
fields.
Shorl-lerm, the Trust's slated aim5 arp Ihreefold..
To preserve the heritage ol the Garden.,
To protect our natural habilals, wildlife and planl5',
To provlde a place lo escape, explore and connect with nature.
To deliver these, the Trust's objeclives over the Coming years are..
To develop a rèsilient business model, posl-pandemic.,
To plan and deliver lulure conservation projeclg and charitable aclivilies..
To continue lo develDP replacement visilor facilities following the 2022 move from our previous base.
To further develop our volunteers and their volunteering Èxperience.,
To further develop the visitor experience.
To increase tsulreach activity in the community.
c. Activities for Achieving Objectiv85
To achipve the gbjoclives of the Charity the Garden is open lo the public thrDughoul the year, with opening
hours varying in line with Seasonal demand.
The Trustees have referred lo the guidance Contained in the Charity Commission's general guidancp ON
public benelil when reviewing their aims and objectives and In planning aclivilies.
Page 4

PAINSWICK ROCOCO GARDEN TRUST
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Charitable aclivilies
2023 looked likely lo be a difficult year as the Charity continued lo adapl lo the changes wrought by COVID
and lo get back on its feel, both operationally and financially, following the move lo new lacililie5 in
September 2022.
However. the dedication and hard work of our dedicatèd team of 51all and vclunleers paid oll. with the ye3r
bringing record visitor numbers and a number of positive developments including eveniny openillg al
Christmas lime. This was alongside significant revenue and capilal cost ol completing and operating the
new temporary welcome facilities which has been challenging and has clearly had a slgnilicanl impact on
the organisalion's financial performancp.
Visitors and Numbers
Despite thè operational challenges Df the year, visitor numbers were strong. The year finished with 63,914
visitors. selling a new record lor att8ndance. The Trustees remain positive about the future popularity and
financial slrènglh of the Garden.
b. Voluntèers and Staff
2023 was another demanding year lor the team. managing high visitor demand whilst operating in a
sometimes difficult working environment. We were pleased la wÈlcome new volunteers lo the Welcome
Dgsk team and in the Garden and more group5 of volunteers from local companies lo help deliver specific
projp¢ls in the Garden. Enormous thanks are due lo the Iriendly and commilled team of staff and
volunteers who contribute so much lo the mainlenafice and development ol the Garden.
Activities
The Garden opened seven days per week at peak limes and live day5 per week during the core visiting
season. Off-peak open days varied depending on demand. December 2023 saw the launch of new. extended
Dpening hoLtrs aller dark as parl of our very successful, 'Enchanled Gardèn by Might, Christmas trail,
bringing in extra visitors and contributing lo our record-breaking visitor numbers.
d. Painswick Garden Eslale Limited IPGELI
The Cale and Shop ¢onlinued lo provide a new streamlined ollering in the new temporary vlsltor facilities.
The Shop team has continued lo develop our range ol Rococo Garden branded products, with those using
Kilthen Garden produce proving a big hil with visitors and locals. Bpih operations have proved highly
ver5alile and have adapted well lo their surroundings. We were also able lo host Ihree weddings, a GgldÈn
Wedding and a wake as well as a wedding photoshool for a weddings magazine.
The Exedra NLFrsery Limited IENL) ¢onlinued lo operate their very successful new plant nursery adjacent lo
the Garden in 2D23 which has proved io be a very valuable and popular addition lo the allraclions on sile.
PGEL's dividend payment lo the Trust at the end of 2023 was £41,50012022 £40,964).
È. Fundraising
Aller 2022's crowdfltnding success, a considerable amounl ol preparatory work w8s undertaken to identify
and respond to the need5 01 the local communily. A public consullalion was launched in 2023 and pllol
outreach projects weré delivered with Slroud Dislricl Council, and Gloutestèr City Council lor their HAF
(Holiday Activities and Food) programme. other ctsmmunily Dulreach engagement aclivilie5 were deliveréd
with local schools and charities,
number of donations were received for tree plantinu and enquiries from Individual donors were
respondèd to. E22.830 wa5 rai5ecS in 2023. with £60,000 from the Crowd Funding appeal lor Ihe new visitor
centre being brought into accounl whèn the facilities became operational in February 23, making total 2023
fundraising £82,830.
f. Appointments, Reslghallons and Departures
There were no changes lo ihe membership ol the Board ol Trustees in 2023.
Page 5

PAINSWICK ROCOCO GARDEN TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITABLE ACTIVITIES - ¢onlinL¢ed
ACHIEVEMENT AND PERFORMANCE- conlinupd
g. Landscape and Restoration
The Garden tèam continuèd to maintain thè Garden lo a high standard whi151 providing a con5idprable
mount of practical antl logi51iral support lor the move ol premises. Head Gardener Roger Slandley
continued lo provide invaluablè support lo the ongoing development of our new sile. A new 5ea50nal
gardener was recruited lo provide additional support lor the team.
A further l&,000 dallodil bulbs and 3,000 alliums were planted around the Swan Pond lo further enhancp
tho spring display. New saplings were planted in the Red House Shrubbery as parl ol the continued Garden
rÈsloralion.
Further tree works look place during the year due to ash die-back, followed by replanting with dillerenl
species which will be more resislanl lo the lulure impact Df climate Change.
The Eayle House and Exedra underwent major renovalion as part ol Ihe ongoing maintenance ol the
historic, listed Garden building5.
h. Events and Filming
Outdoor events remained popular with three dillerenl productions being hosted in the Coach Field and one
on the bowling Green over the summer.
Our programme ol lainily trails continued wilh a return ol ihe summer Enchanted Garden willow sculpture
trail, a new scarecrow trail for Halloween wèèk lealuring scarecrows mado and donated by local
businesses and the very POPLtlar Enchanted Garden by Might in December.
Our arlisl-in-residence, Natasha Houseago, who sculpled a number ol beautiful items using limber felled
due lo being allecled by èsh dieback, conlinued to work on 511e and there were several open-air, craft
evènts during thg year. In September, we hosted a successful wine lasting event in partnership with a
local wine merchant. Ai the end ol the year, the Rococo Garden Carol Concert in Sl Mary's Church was
again well-altended by the local community.
FINANCIAL REVIEW
Financial position
Income from Unreslricled Funds amounted to £578,269 (£480,516 in 2022) whilst expenditure was £556,79D
(£424,916 in 20221. Income from Reslricled Fund donations amounted to £60,000 and this was pul towards
the cost of the new visitor centre within Freehold Propèrly, This led lo nel income of £81,479 (£55,600 in
2U221.
The Truslees remain grateful as ever lo the many organisaliDns and individuals who have generously
supported us this year.
Inveslmenl policy and objective5
The Trustees have the power lo..
dèposit or invèst funds;
employ a professional fund manager.,
arrange for the investments or other properly ol the charity lo be held in the name ol a nominee- in the
same manner and subject to the same conditions as the trustees of a trust permitted io do by the Trustee
Act 2000.
Page 6

PAINSWICK ROCOCO GARDEN TRUST
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Reserves policy
All surplus income of the Trust lènd ils subsidiary Painswick Garden Eslale Ltd - PGELI should ultimalely
be invested in furthering the TrLJsI's charitable obje¢lives. However, the Trust endeavours to
retain
sulflcienl reserves of cash lo ensure that il minimizes the risk ol insolvency as a result ol significant
one-off commitment5. bad weather, or prolonyed closure ol thè Garden because of events Dulsido the
CDnlrol of the Trust.
Specifically. the cash balances ol the Trust should al all limes b& sufficient lo fund a minimum 013 months
and ideally 6 months ol normal operations wilhoul income. In this context 'normal Dperalions. means paying
for any costs that might reasonably be expetled to arise during a period ol prDlonged closure. including
permanent slaft and sèrvicing loans but not casual labour Dr significant inveslmenls.
In the lonuer term il is the Trust's policy lo gradually accumulate a cash reserve of £500,000 which will bE
sel aside in a non-operalional bank account. It is intènded that money should be allo¢aled out of reported
surpluses on a quarterly bas15 lo build this reserve al the rale of £50.000 or more pèr year.
This reserve will be held lo provide lor significant foreseeable financial commilmenls. such as the
requirement lo Fund a major capital project. It is anlicipaled that the Charity will build a new permanent
visitor and education lacillly in Ihe longer tèrm. A Secure reserve balancE will assist the Trust when
applying lor grant and/or match lunding lor capital projecls.
Reslri¢lpd Funds should be excluded from these sums and may be retained untll a suitable opporlunily
arises la lullil the specific purpose lor which they have been dDnated.
Going concern
The Trustees are fully aware ol thèir duty lo assess the charity's going ¢oncern slalus and have attended lo
this with particular care in consideration ol the current economic Dullook and of the ROCDCQ Garden's
particular circumstances.
The Trustee5 have prepared and regularly review the tharily's forecasts and projections and have taken
into account possible changes in Dperating performance by considering all reasonable scenarios and the
current funding pos11ion. The relocation of the charilws opèrations from the Coach House lo the Welcome
Village has now beÈn completed. Ongoing improvements are taking place as funding allows, which will
Involve capital exp&ndilure. The Trustees have takèn these changes and associated costs into account
when preparing and reviewing the lorecasls.
The Trustees have concluded Ihal the charity has adéqual8 resaurces lo meet ils liabilities and the 1Snancial
51alemenls have been preparod accordingly on a going concern basis.
FUTURE PLANS
The Garden continues to be an important assèt lo the local communily. Visitor numbers during the year
again exceeded our expeclalions and budget and our financial position reflects this. A5 we sellle into our
nèw temporary premises, we continue lu review our buslness plans, financial and operational slralegiès
with a focus on increasing our resilience, meeting our commitment lo grow oui- financial reserves and
reslrucluring the oryanisalion's governance. As parl Of this we are revisiting our fundraising strategy,
identifying how the charity should adapt lo changing donor priorities whilst continuing lo efleclively deliver
its objects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity conslllulion
The company is règistered as a charilable CDmpany limited by guarantee and is governed by its
Memorandum and Arlicles ol Association dated 12 Decgmber 20D4. Ils registered charity number is 1107844.
Page 7

PAINSWICK ROCOCO GARDEN TRUST
REPORTOFTHETRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND mANAGEmE￿r
Rècruitment and appointment ol new trustees
The Charity may by Drdinary resolution appoint a person who is willing to act lo as a TrLtslÈe- and determine
the rotation in which any additional Trustees are lo retire.
No person other than a Trustee retiring by rolzlion may bÈ appointed 3 Trustee al any uenèral meeting
unless..
l. he or she Is recommended lor re-election by the Trustees- or
not less than lourleen nor more than thirly-five clear days before the date of the meetlng. the Charlly is
given a nolice Ihal..
is signed by a member Enlilled to VDle al the meeting;
stales the member's intention lo propose the appointment ol a person as a Trustee.
contain5 the delai15 that, il the P&f SDll WEre Ip be appointed, the Charity would have lo file al Companies
House,. and
is signed by Ihe person who is lo be proposed to show his or her willingness lo be appointed.
All members who are enlilled ID receive notice ol a general meeting musl be given nDI less than seven ntsr
mDre than Iwenly-eighl days, notice DI any resolulion lo be pul lo the meeling-lo appoint a Trustee othèr
than a Trustèe who is to rÈtire by rolalion.
Thg Truste8s may appoint a person who Is willing lo act ID be a Trustee. A Trustee appointed by a resolution
ol the Trustees must retire al the next annual general meeling and musl not be taken inlo account in
delermining the Trustees who are to rellre by rDlaliDn.
The appointment of a Trustee., whether by the Charity in general meeting or by the other Trustèes, musl not
cause the number of Trustees lo exceed any number fixpd as the maximum number of Trustees.
Al each annual general meeting one-third of the Trustees or, il their number is not three or a multiple ol
three. the number nearest lo one third musl rètire from office. If ihere is only one Trustee. he or she musl
retire.
The Trustees lo retire by rolalion shall be those who have been longe51 in office since their last
appoinlmenl. If any Trustee5 became or were appoinlecl Trustees on the same day those lo retire shall
(unless they otherwise agree among themselves) be determined by lol.
Organlsational structure and decision makiny
ThÈ Board DI Trustees meèts monthly lo administer the charity. The day-lo-day manayemenl of the Garden
is the responsibility ol the Garden Dirèctor who is employed by the Trust lo oversee the runhing of bDlh the
charity and ils trading company. Certain aspects of the managemenl of the charity are scrulin15ed by
sub-committees which mel rEgularly, work lo agreed terms of reference and report lo the BDard.
Remuneration of key management personnel
The pay and remuneralion of the charity'5 key management personnel are overseen by the Human
Resources Subcommillee which benchmarks salaries with comparable organisalions and works alongside
the Finance Subcommillee lo implement ils rècommendations.
Page 8

PAINSWICK ROCOCO GARDEN TRUST
REPORT OFTHETRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Trust maintains a risk register which is reviewed regularly. The principal concerns in 2023 were the
inevitable risks 3sso¢ialed with the move ol visitor facilities, such as liming, cost and impact on visllor
numbers and delay in gelling planning approvals. Howèver, the Trusi has invested considerable time and
eflorl into forward planning lo miligalÈ thè risks and minimise the financial impact.
The Trust has a narrow income stream derived from visits to the Garden. Since the coronaviru5 pandemic,
the Trust has been exploring how lo make ils business model and operation more resilient and is planning
lo lurlher develop this work in 2D24.
An outdoor visitor allraclion such 85 the Garden is particularly susceptible lo environmental ¢hanges.
Climate change is having a noticeable impact on the Garden, with warmer, weller winter5 irnpacling
snowdrop Season and Extreme weather lin particular strong winds and heavy rainl becoming moré
commonplacè. The lelling ol ash trees due lo chalara dieback has alse had a significant physical and visual
impact on cerlain areas ¢1 the Garden.
Policy Réviews
The BDard r&vi?wed and renewed ils key policies and protocols in 2023. New rècruits to the Board receiv
an induction and a further training programme is planned for 2024.
STATEMENT OFTRUSTEES. RESPONSIBILMES
The IrLEStees (who are also the directors ol Painswick Rococo Garden Trust for the purposes of company
lawl are responsible lor preparing Ihe Annual Rèport and the financial slalemenls in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice) including Financial Reporling Standard 102 Thè Financi31 Reporting Standard applicable in the UK
and Republic of Ireland"
Company law requires the Iruslees lu prepare financial slalemenls lor each financial year which give a
true and lair view of the stale ol affairs of the charitable company and ol the incoming resources and
pplic3liDn of resources, including thè income and expenditure, ol the charitable company for that period. I
preparing those financial slalemenls, the trustees are required lo
select suitable accounting policies and then apply them consislenlly.,
observè the methods and principles in the Charity SORP.,
make judgements and eslimales that are reasonable and prudent..
prepare the financial slalemenls on the going concern basis unles5 11 is inappropriate lo presume Ihal
Ihe charilable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any lime the financial position ol the Charitable Company and lo enable them to ènsure that the
financial slalernen15 comply with the Companies Act 2006. They are also responsiblè lor safeguarding the
assets ol the charitable company and hencè for taking reasonable sleps lor the prevention and detection ol
fraud and other irregularilles.
Thi5 report has been prepared in accordance with the special provisions ol Parl 15 of the Companies Acl
2006 relating lo small companies.
Approved by order of the board of Iruslees on 4 September 2024 and signed Dn ils bèhalf by..
Mr D A W Hardie - Trustee
Page 9

INDEPENDENT EXAMINER'S REPORTTO THETRUSTEES OF
PAINSWICK ROCOCO GARDEN TRUST
Indèpendent examinerfs report lo Ihè trustees of Painswick Rococo Garden Tru511'lhe Company
I rpporl lo the charity Iruslees on my examinalion ol the accounts of the Company for the year ended
31 Decèmber 2023.
Responsibililies and basis ol report
As the charity's Iruslees of the Company land also ils direclDrs for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
20061'lhe 2006 Acl'l.
Having Satisfied myself that Ihe accounts ol the Company are not required lo be audited under Parl 16 01 Ihe
2006 Act and are eligible IDr independent examination, I report in respect Df my examination ol ypur
charSly's accounts as carried out under Section 145 of the Charities Act 20111'lhe 2011 Act,). In ¢arryir)g out
my examination I have followed the Directions given by the Charity CDmmi5s10n under Section 145151 Ibl of
the 2011 Act.
Independent examinels statement
Since your charity's gr05s income exceeded £250,UOD your examiner musl be a member ol a lislÈd body. I
can confirm that l am qualified to undertake the examination because l am a mEmb&r ol the Inslilule of
Chartered Accounlanls in England and Wales, which is one ol the listed bodiès.
I have CDmpleled my examin31ion. I confirm that no mallers have come lo my attention in connection with
the examination giving me cause lo believe..
accounting records were not kept in respect ol the Company as rÈqLtir2d by Section 386 01 the 2006
Act., or
the accounts do not accord with those records.. or
the accounts do not comply with the accounting requirements of Section 396 01 the 2006 Act other
than any requirement thal the accounts give a true and lJir view which is not a maller considered as
parl ol an independent examination., or
the accounts have not been prepared in ac¢prdance with the methods and principle5 01 the
Slalemenl ol Recommended Practice for accounting and reporting by charities (applicable lo
charllles preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic ol Ireland IFRS 10211.
I have no concerns and have come acrDSS no other matters in connection with the examination lo which
allenlion should be drawn in this rpport in order lo enable a proper understandin9 01 the a¢¢Dunls lo be
reached.
Roger Downes FCA
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Chellenham
Glouce51ershire
GL519rx
4 September 2024
Page 10

PAINSWICK ROCOCO GARDEN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 31 DECEMBER 2023
31.12.23
Total
fund5
31.12.22
Total
Funds
Unreslriclgd Reslricled
fund
fund
Notes
IhlCQME AND ENDOWMENTS FROM
DDnalions and legacies
112,104
60,000
172.104
117.594
Charilable activities
Operation ol garden
Friends
420.448
27.790
420,448
27,790
331,411
29,509
Investment income
Other income
2,595
15.332
2,595
15,332
I,D02
1,000
Total
578,269
60,000
638,269
480,51
EXPENDITURE ON
Raising funds
232
232
1,844
Charitable aclivilie5
Operation ol garden
Friend5
556,558
556,558
421.770
1,302
Tolal
556,790
556,790
424,916
NET INCOME
21,479
60,000
81,479
55,600
RECONCILIATION OF FUNDS
Total funds brought fDrward
398.078
398,078
342,478
TOTAL FUNDS CARRIED FORWARD
419,557
60,000
479,557
398,078
The notes form parl ol these financial slalemenls
Page 11

PAINSWICK ROCOCO GARDEN TRUST (REGISTERED NUMBER.. 053212031
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
31.12.23
Tolal
lunds
31.12.22
Total
funds
Unreslricled Reslricled
fund
fund
Notes
FIXED ASSErs
Tangible assets
Inveslmenls
16
17
321,693
30,000
60,000
381,693
30,000
104.390
30,000
351,693
60.000
411,693
134,390
CURRENT ASSErs
A5sols under con51ruclion
Deblors
Cash al bank and In hand
18
19
183.534
95,511
147,580
91,937
113.561
91,937
113,561
205.498
205,498
426,625
CREI)ITORS
AmDunls falling due within one year
20
1105,9671
IID5.9671
1111,2701
NET CURRENT ASSErs
99,531
99,531
315,355
TOTAL ASS￿5 LESS CURRE￿ LIABILITIES
451,224
60,000
511,224
449,745
CREDITORS
AmDunls falling due aller more than one
year
21
131,6671
131,667)
151,6671
NET ASs￿s
419,557
60,000
479,557
398,078
FUNDS
Unre51ricled funds
Reslricled funds
23
419,557
60,000
398,078
TOTAL FUNDS
479.557
398,078
The tharilable company is enlilled lo exemption from audit under Section 177 of the Companie5 Act 2006
lor the year ended 31 December 2023.
The members have not reqL¢lred the company lo oblain an audit ol ils financial slalemenls lor the year
ended 31 Dècember 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their re5PDnsibililie5 for
lal
ensurlng that the charilèble company keeps accounting records that camply with Sections 386 and
387 01 Ihe CDmpanies Act 2006 and
preparing financial slalemenls which give a true and lair view ol Ihe slate ol affairs of the eharilable
company as al the end Df ea£h financial year and of ils surplus or delicil lor each financial year in
accDrdance with the rèquiremenls of Sections 394 and 395 and which otherwise comply with the
reqltiremenls ol the Companies Act 2006 relating lo financial statemen15, $0 lar as applicable lo the
charitable cgmpany.
Ibi
The notes form parl ol these linènci31 slalements
Page 12
conlinued..,

PAINSWICK ROCOCO GARDEN TRUST IREGISTERED NUMBER.. 053212031
STATEMENT OF FINANCIAL POSITION - ¢onilnuèd
31 OECEMBER 2023
These financial statements have been prepared in atcordance with the provision5 applicable lo charitable
companies subject lo the small companies r&gime.
The financial slalemenls were approved by the Board of Trustees and aulhDrised lor issue on
September 2024 and were signed on ils behalf by..
Mr D A W Hardie - Trustee
The notes form parl ol thesè financial statements
Page 13

PAINSWICK ROCOCQ GARDEN TRUST
STATEMENT OF CASH FLOWS
FOR THEYEAR ENDED 31 DECEMBER 2023
31.12.23
31.12.22
Notes
Cash flows fre>m operaling activltie$
Cash generated from Jjperalions
Interest paid
291,432
14,4681
133,2801
13,1281
Nel cash provided by/(used in) operating activities
286.964
(36,4081
Cash flows Irom Investing activities
Purchase of tangible fixed assets
Interest received
1303,5781
2,595
19441
1,002
Nel cash (used in)/provided by Investing activities
1300.9831
58
Cash Ilows Irom financiny acllvltles
Loan repayments in year
120,OQOI
120.0001
Not cash used in financing activities
120,0001
120.0001
Chanue in cash and cash equivalents in
the reporting perlod
Cash and cash equivalents at the
beginnlng Df the reporting period
134,0191
156,3501
147,580
203,930
Cash and ¢ash equivalents at the end of
the reporting period
113.561
147,580
The noles lorm parl ol these financial slalements
Page 14

PAINSWICK ROCOCO GARDEN TRUST
NOTESTO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
RECONCILIATIOM OF NEf INCOMETO CASH FLOW FROM OPERATING ACTIVITIES
31.12.23
31.12.22
Mel income for the reporting period las per the Statèmenl ol
Financial Acliviliesl
Adjuslmenls for.
Depreciation charges
Loss on disposal of fixed assets
Intere51 recelved
Inlere51 paid
Decreasellincreasel in assets under construction
Decrease in deblDrs
IDecrease}Iincrease in creditors
81,479
55,600
26,196
79
12,5951
4,468
183,534
3.574
15,3031
6,906
11,0021
3,128
1183.5341
11,858
73,764
Net cash provided by/lused In) operatiOh5
291,132
133.2801
ANALYSIS OF CHANGES IN NET FUNDS
Al 1.1.23
Cash flow
Al 31.12.23
Net cash
Cash at bank and in hand
147.580
134.0191
113,561
147.580
134.0191
113,561
Debt
Debts falling due within 1 year
Debts falling due after l year
120,000)
151,667)
120,0001
131,6671
20,000
171,667)
20,OOD
151.667)
Tolal
75,913
114.0191
61,894
The notes form parl of these financial slalemenls
Page 15

PAINSWICK ROCOCO GARDEN TRUST
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEtI 31 DECEMBER 2023
CHARITY INFORMATION
Thè Charity is a company limited by guarantee (company number.. 5321203 England & Wales} and a
charity registered with the Charity Commission in England and Wale5 (charity number.. 11078441. The
règisterèd ollice is Painswirk RococD Garden Trust, Gloucester Road, Painswick, Glouceslershire,
GL6 6TH.
ACCOUNTING POLICIES
Basis ol prepariny the flnanclal statements
The financial slalemenls of thè charitable company. which is a public benefit enlily under FRS 102,
have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by
Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard appli¢abl& in the UK and Republic of Ireland IFRS
1021 lelfeclive l January 20191,, Financial Reporting Standard 102 Th¢ Financial Reporting Slandard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slatemenls
have been prepared under ihe historlcal cost convention, with the exception of inveslmenls which
are includèd at r113rkel value.
Going concern
Aller reviewing the Charity's forecasts and projecliDns, the Trustees have a reasonable expe¢lalion
that the Charity has adequate resources to continue in operational existence for thè foreseeable
luluré. The Charity Iherelcre conlinltes lo adopt the going concern basis in preparing ils financial
51alemenls.
Preparation ot ¢onsolidaled tinancial stalemÈnls
Thè financial slalemenls conlain information about Painswick Rococo GardÈn Trust as an individual
company and do not contain consolidated financial informalion as the parent pl a group. The charity
is exempl under Section 39912AI ol Ihe Companies Act 2006 from the requirements lo prepare
consolidated financial slalemenls.
Income
All income is recognised in thè SlatÈmènl ol Financial Activities once the charily has enlillemenl I
the funds, It is probable that the income will be received and thè amount £an be measured reliably.
Donallon5 ahd legacles
Doi)aliDns are recognised when the Charity has been nolilied in wrilins ol both the amount and the
selllemènt dat8. In the event Ihal a donation is subject to conditions that require a lev&1 of
performance by the Charity before the Charity Is ehtitlèd to the funds, the income is deferred and nol
recogiiised tjntil either these conditions are fully mel, or the lullilmenl Df those conditions is wholly
within the control of th& Charity and il is probable thal these conditions will be fulfilled in the
reporting pèriod.
IncDme Irom legacies Is recogn15ed where evidence of enlillemenl exists, thè value is rneasurable
with sufficient reliability, and on the earlier ol the date ol recelpl ol linalised eslale accounts or the
dale uf payment.
Grants
Grants including government grants are recognised when Ihe Charity is entitled tD receipt. Whpre
enlillemenl occurs beforè the income 15 received, the income is accrued.
Page 16
Conlinuèd...

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES - conlinued
Expenditure
Liabilities are recognised as expenditure as 500n as there is a legal or conslruclive Dbligalion
commilling the charity ID that expenditure. Il is probèblÈ that a transfer ol economic benefits will be
required in selllemenl and the amount of the obligation can be measured reliably. ExpÈndilure is
accounted for on an accruals basis and ha5 been classified under heading5 that aggregate all tosl
related lo the category. Where cosls cannot be directly allribuled lo particular headings Ihey have
been allocated to èclivilies on 3 basis consislenl with the use of resources, wilh central stall costs
allocated Dn the basis ol time Spent, and depreciation charges allocated on the portion of the asset's
use.
Costs of raising funds arè those incurred in allracling voluntary income and those incurred in
trading aclivilie5 that raise lunds.
Charitable expenditure camprises those costs incurred by the Charity in Ihe delivery Df its aclivilie5
and services for its beneficSaries, 11 includes both costs that can be allocated directly and Ih05e costs
ol an indirect nature necessary lo support them.
Govèrnènce costs include the costs allribulable lo the Charity'5 compliancè with conslilutional and
slalulory requirements. This includes Indepèndent Examination, strategic managpmenl and Trustees,
meetings and relmbursed expenses.
Tangible lixed assets
Individual fixed asse15 costing É500 or more are Initially recorded at cost. Depreciation is provided
on tangible fixed assets so as to write off the cost less any e51imaled residual value over their
expected useful economic lives as follows..
8uildlnys
Visitor centre - groundworkslservicesldevelopment
Visitor centre tèmpDrary slruclure5
Furniture and equipment
Computer equipment
4 years slraighl line
40 years slraighl line-
5 years slraighl line
4 years or10 year5 Straight line
3 years slraighl Ilne
Taxalion
The Charity is considered lo pass the lesls sèt out in Paragraph I Schedule 6 01 the Finance Act 2010
and therefore il meets the definition ol a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from laxalion In respect of income or capital gains
received wiihin categories covered by Chaptèr 3 Parl 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied
exclu5iv&ly lo charitable purposes.
Fund accounliny
Unreslricled funds can be used in accordance with the charitable objectives al the discretion Df the
Iruslees.
Re51ricled fund5 can only be used lor parlitular reslrictèd purposes within the objects of the charity.
Reslriclions arisÈ when specified by the donor gr when funds are raised for particular reslricled
purp05e5.
Further explanation of the nature and purpose of each fund 15 Included in the notes lo the financial
slalemenls.
Pension costs and other pusl-rotiremenl benelits
The charitable compally operates a delined conlribulion pension scheme. Contribution5 payable lo
the charitable company's pension scheme are charged lo the Slalemenl of Financial Activities in the
period lo which they relate.
Page17
continued,..

PAINSWICK ROCOCO GARDEN TRUST
NOTES TOTHE FINANCIAL STATEMENTS- conllnued
FOR THE YEAR ENDED 31 DECEM8ER 2023
ACCOUNTING POLICIES - conlinued
Herilage assets
The Charitable Trust w3s crèated in 2DO4 by the donation ol the historic listed garden and li51ed
buildings by their then owners, Lord and Lady Dickinson, These gardens have been improved and
maintained since then for Ihe benÈfit of our visitors. A maintenance programme for the building5 IS
regularly reviewed by the gardpn's management team lo ensure that the buildings are maintainèd lo
a high standard within the financial constrain15 01 the charity.
The value of the garden and ils herllage bulldings have not been capilalised in Ihe financial
5talementS DI the charity. The original doiialion included a pre-emption clause whlch speclli&d that
if the charity were lo Ceas? operations, the Garden musl be Dllgred to the late Lord Richard
Dickinson or his successors lo buy far £1. His sons have since agr&ed that in this evenl. the garden
may first be offered lo another charity which is prepared lo take over the Trust and operation ol the
garden, Givèn this agreement, the Tru51ees have taken the view that the garden and ils heritagè
buildings should not be capilalised as il may not have any resale value lo the Charity. No valuation ol
the garden and the buildings was made when the Trust was sel up, nor since.
Deblors
Trade and other debtors are recogni5ed al the seiilemenl amount. Prepayments arè valued at the
amounl prepaid.
Cash at bank and in hand
Cash al bank and in hand includes cash and highly liquid investments with a shDrt maturity ol three
months or less from the dale ol acquisition or opening ol ihe deposit or similar account.
Liabilities are recognised when there is an obligation al the Balance sheet dale as a result ol a past
event, il is probable that a Iransler ol economic benefit will bè required in 5elllemenl, and the
amount of the selllemenl can be e51imaled reliably, Liabilities are recognised al the amounl that the
Ch3rily anticipates it will pay lo sellle the debt.
Flnancial instruments
The Charity only has financial assets and liabilities of a kind that qualify as basic financial
instrumènts. Basic financial instruments are initially recognised al Iransaclion valLEe
and
suljsequenlly measured al their selllemenl value.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Charily's accuunling policies the Trustees are required lo make judgements.
estimates and assumplioiis 3boul thè carrying amounts ol assets and liabilities that are not readily
apparent from other sources. The eslimales and associated assumptions are based on historical
experience and other la¢lors which are considgred lo be relevant,
Depreciation of tangible fixed assets Is based on the Charity's judgement ol their useful lives and
residual values.
The depréciation rates used are discIDsed in the tangible fixed assel policy above and the carrying
value of the assels are disclosed in note 16.
Page 18
conlinued.,-

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS - ¢onlinued
FOR THE YEAR ENDED 31 DECEMBER 2023
DONATIONS AND LEGACIES
31.12.23
31.12.22
Donations
Dividend from Iradlng subsidiary
Grants
130,604
41.500
74,852
40,964
1,778
172,104
117,59
Grants received. included in the above, are as lollow5'.
31.12,23
31.12.22
Slroud DC Covid Grants
1,778
INVESTMENT INCOME
31.12.23
31.12.22
DÈposil ac£ount interest
2,595
1.002
INCOME FROM CHARITABLE ACTIVITIES
31.12.23
31.12.22
Activity
Operation ol garden
Operation ol garden
Admissians
Events
Gardener's Talks and
Trails
Admissions
408,285
10,194
314,920
4.723
Operation ol garden
Friends
1,969
27,790
11,768
29,509
448,238
360,920
OTHER INCOME
31.12.23
31.12.22
Rental income
15,332
1,000
Page 19
continued.

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMEMTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2023
RAISING FUNDS
Raising donations and leyacies
31.12.23
31.12.22
Fundraising cost5
232
1.844
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 101
Support
costs (see
note 111
Totals
Operation of g3rden
319,182
237.376
556,558
10.
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.12.23
31.12.22
Staff c0515
Othér dirèct costs
Other slalf costs
133,943
176,149
9,090
112,099
125,292
3,423
319,182
240,814
SUPPORT COSTS
Governance
costs
Other 2
Totals
Operation ol garden
221,259
16,117
237,376
Support c051s, includèd in thè above, are as follows..
31.12.23
OperaliDn
ol gardèn
31,12.22
Total
ctivitigs
Wagès
Other support costs
Dèprèciation ol tangible fixed assets
L055 on sale ol tangible fixed assets
Interest payable and similar charges
Accountancy and legal fees
154.094
36,422
26,196
79
4,468
16,117
143,315
16,775
6,9ri5
3,128
12,135
237,376
182,258
Page 20
continued...

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS - conllnued
FOR THEYEAR ENDED 31 DECEMBÉR 2023
12.
NET INCOMEIIEXPENDITUREI
Nel Income/lexpendilurel is staled aller charging/lcredilingl=
31.12.23
31.12.22
Depreciation ownèd assèts
Delicil on di5PDsal Df fixed assets
Independent Examiner's fees.. Independent Examination
Independent Examiner's fees.. Preparation ol Financial Slalemenls
IndependÈnl Examiner's fees.. General advlce
Loan interest
26.196
79
1,000
280
375
4,461
6,90&
1,075
325
3,118
13.
TrUSTEES' REMUNERATION AND BENEFITS
There wer& no Iruslees, remuneration or Dlher benelils for the year ended 31 December 2023 nor lor
the year ended 31 December 2022.
Trusl¥es' èxpenses
There were no Iruslees, expenses paid for the year ended 31 December 2023 nor lor the year ended
310ecember 2022,
During the year one Iruslee was paid lor consultancy advice on an arms length basis lo Ihe valuè DI
£12,17512022.. £7,900).
STAFF COSTS
31.12.23
31.12.22
Wages and salaries
Social security cosls
other pension c051s
257,534
13,807
16,696
227,442
12,404
15,568
288,037
255,414
The average monthly number of employees during the year was as follows..
31.12.23
17
31.12.22
16
Headcounl
No employees received emoluments in excess of £60.000.
The key management personnel of the Charlly Is considered lo be the Garden Director only. The
total èmployee benefits of the key management personnel ol the Charity werp £63,381 12022..
É66,6071.
Page 21
continued.,.

PAINSWICK ROCOCO GARDEN TRUST
hlOTES TO THE FINANCIAL STATEMENTS- eonllhued
FOR THE YEAR ENDED 31 DECEMBER 2023
15.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
All Iran5acllons were unreslricled in the prior year.
16.
TANGIBLE FIXED ASSErs
Furniture
and
Equipment
Freehold
properly
Computer
equipmenl
Totals
COST
Al l January 2023
Addilions
Di5P05als
80,750
297,871
70,672
3.962
119,432}
6,917
1,745
(3,5701
158,339
303.578
123,D021
Al 31 December 2023
378.621
55,202
5,092
38,915
DEPRECIATION
Ai l January 2023
Charge for year
Eliminat&d on disposal
3,630
17,710
44,359
7,027
119,4321
5,960
1,459
{3,491}
53.949
26.196
122,9231
Al 31 December 2023
21,340
31,954
3,928
57,222
NEf BOOK VALUE
Al 31 December 2023
357,281
23,21J8
1,164
381,693
Al 31 December 2022
77,120
26.313
957
104,390
17.
FIXED Ass￿ INVESTMENTS
Shares in
group
undertakings
MARK￿vALuE
Al l January 2023 and
31 December 2023
30,000
NET BOOK VALUE
Ai 31 December 2023
30,000
Al 31 December 2022
3Q,000
There were no investment a8sels outside the UK.
The company's investments at the balance sheet dale in the share capital of companies include the
following-.
Page 22
conllnued...

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS - conlinued
FOR THEYEAR ENDED 31 DECEMBER 2023
17.
FIXED ASSET INVESTMEMTS - continued
Painswick Garden Estate Llmlled
Registered tsflice.. Painswick RDCDCO Garden. Gloucester Road. Painswick, Stroud, Gloucesler5hir¢,
GL6 6TH.
Nature ol business.. Operation of cale and wedding venue.
Cla55 of share..
Ordlnary
holding
100
31.12.23
31.12.22
Aggregate capital and resérvès
Profiilllossl lor the year
14,934
1.174
13,760
1581
18.
ASSETS UNDER CONSTRUCTION
31.12.23
31.12.22
Visitor Centre
183,534
In the prior year the Charity was Ill the course ol conslrucling a new Visitor Cenlre. This was
completed in the current year,The c0519 ol buildiny thè Cenlre, including all altendanl fees, have now
been capilalised on completion of the building programme.
The charity raised £60,000 of donalions towards the costs of this building programme in the prior
year, which have now been released fram deferred income a5 shown in note 20 below.
19.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade debtors
Amounts owed by group undertakings
VAT
Prèpaymenls and accrued income
684
21,332
620
6,586
13,016
75,289
69,941
91,937
95.511
Page 23
continued.

PAINSWICK ROCOCO GARDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS- conlinued
FOR THEYEAR ENDED 31 DECEMBER 2023
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Bank loans and overdrafts (see note 221
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
20,000
19,118
8,229
11,103
8,56&
38,953
20,000
22.103
6,542
1,400
61,225
105,967
111,270
Deferred Income
31.12.23
31.12.22
alance blf al l January 2023
Amounts deferred in Ihe year
Amoun15 relèased in the year
60,000
7,984
160,ODOI
60,000
Balance c/f at 31 December 2023
7,984
60.000
Dèfèrred income al 31 December 2023 relates lo entrance fees paid in advance and al 31 December
2022 to reslricled donations relating to the building Df the new visitor cenlre.
21.
CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
31.12.23
31.12.22
Bank loan5 (see note 221
31,667
51,667
22.
LOANS
An analysis of the malurily of loans is given belDW'.
31.12.23
31.12.22
Amounts falling dLFe within one year on demand..
Bank loans
20.000
20,000
Amounts falling between Dnè and two years..
Bank loans
20,000
20,000
Amounts falling due betweèn two and five years..
Bank loan5
11,667
31,667
The loan is a Coronavlrus Business Interruption Loan with Lloyds Bank. 11 has a capital rppaymenl
holiday ol 12 months and the first 12 months interest and lees were paid by the UK Government. The
loan has an inleresl rale of 2.55 /D and the loan repayments slarlèd in August 2021 with the loan due
lo end in July 2026.
Page 24
continued...

PAINSWICK ROCOCO GARDEN TRUST
NOTESTO THE FINANCIAL STATEMENTS - continued
FOR THEYEAR ENDED 31 DECEMBER 2023
23.
MOVEMENT IN FUNDS
NÈI
movemer)I
in funds
At
31.12.23
Al 1.1.23
Unrestricted funds
General fund
398,078
21,479
419,557
Reslrlcled funds
Crowdfunder towards visitor cenlre
60.DOO
60,000
TOTAL FUNDS
398,078
81.479
479,557
Nel movement in funds, included in the above are as fttlltsws..
Incoming
resources
Resources
expended
Movement
in funds
Unreslricled fLtnds
General fund
578,269
1556,7901
21,479
Reslricled lunds
Crowdlunder lowarfls visilor centr
60,000
60,000
TOTAL FUNDS
638,269
1556,7901
81,479
Comparallves for movement in funds
Nel
movement
in lund5
Al
31.12.22
Al 1.1.22
Unrestricted funds
General fund
342,478
55.600
398,D78
TOTAL FUNDS
342,478
55,600
398,D78
Comparative nel movement in fund5. included in the above are as lollow5-
Incoming
resources
ResoLtrces
expended
Movement
in funds
Unr?slricted funds
General fund
480,516
1424,9161
55,600
TOTAL FUNDS
480,516
1424,916)
55,600
Page 25
continued...

PAINSWICK ROCOCO GARDEN TRUST
NIOTES TO THE FINANCIAL STATEMENTS - tonlinued
FOR THE YEAR ENDED 31 DECEMBER 2023
23.
MOVEMENT IN FUNDS- continued
D&Liil&otR0stricte￿ELthds
Crowdfunder appeal via donations towards the Cost of the new visitor cenlrè that opened in February
2023.
24. EMPLOYEE BENEFIT OBLIGATIONS
The Charity operates a dÈfined contribution schème IDr ils employees. The assets are held
separately from those Df the Charity in ind&pendenlly administered funds. The amount charged lo the
SOFA was £16.69A 12022.. £15,568). An amounl ol É1,864 12022.. E8,2571 was oulslanding al the year
end and is included IT) creditors.
25.
RELATED PARTY DISCLOSURES
The charitable company has taken advantage ol exemption, under the terms ol Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland,, not lu
disclose rèl3ted party transaction5 with wholly owned subsidiaries within the group.
During the year, Ms C R Sinc13ir. a Iruslee. provlded con5ultaney advice lo the value el £12,175 12022..
£7,900) on an arm's length basis. Al the year end £nil12022-. £90DI was owed lo M5 Sinclair.
There were no other related party Iransaclion5 lor the year ended 31 December 202312022.. none).
Page 26