Company number: 05171882 Charity Number: 1109239
The Chiswick House and Gardens Trust
Report and financial statements For the year ended 31 March 2021
The Chiswick House and Gardens Trust
Contents
For the year ended 31 March 2021
Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ....................................................................................................... 14 Statement of financial activities (incorporating an income and expenditure account) ................... 19 Balance sheets .............................................................................................................................. 20 Statement of cashflows ................................................................................................................ 21 Notes to the financial statements ................................................................................................. 22
The Chiswick House and Gardens Trust
Reference and administrative information
For the year ended 31 March 2021
Company number 05171882 Charity number 1109239 Registered office The Estate Office and operational Chiswick House address London W4 2QN Country of England & Wales registration and incorporation Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Sir Derek Myers (CHTC) Chair Charles d’Arcy-Irvine (FAR) (appointed 23 April 2021) Sebastian Edwards (HAP) (appointed 23 April 2021) Paula Ghosh (appointed 23 April 2021) Lynne Guyton Jane Kennedy (resigned 23 April 2021) Seema Kotecha Terence Kyle (resigned 23 April 2021) Cllr Tony Louki (LBH) Ian Peacock (FAR), (CHTC) (resigned 23 April 2021) Tracey Reed (DEVC) Mark Stuart-Smith (FAR), (EHT) Vicky Taylor (DEVC) Cllr John Todd (FAR), (CHTC), (LBH) Juliet West (resigned 23 April 2021) Nominated by: The London Borough of Hounslow (‘LBH’) The English Heritage Trust (‘EHT’)
Members of sub-committees: Finance, Audit and Risk (‘FAR’) Heritage Advisory Panel (‘HAP’) Development Committee (‘DEVC’)
Trading subsidiary:
Chiswick House Trading Company (‘CHTC’)
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The Chiswick House and Gardens Trust
Reference and administrative information
For the year ended 31 March 2021
Key management Xanthe Arvanitakis Director personnel Geraldine King Estate Garden Manager Nicki Thomas Head of Commercial Dan Feeney Head of Visitor Experience (appointed 25 January 2021) Bankers HSBC Bank plc 21 Kings Mall London W6 0QF Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House, 108-114 Golden Lane London EC1Y 0TL
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
The trustees present their report and the audited financial statements for the year ended 31 March 2021.
Reference and administrative information set out on pages 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Purposes and aims
The objectives of the Chiswick House and Gardens Trust (‘CHGT’) are to advance education by the preservation, restoration, maintenance, repair and enhancement of the House and Gardens and their contents, for the benefit of the public, the historical and architectural heritage of England and for such purposes as are exclusively charitable according to the laws of England and Wales.
The aims of the charity are to:
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Respond primarily to the needs of the site, and its stakeholders and visitors
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Provide a higher standard of care, where the Grounds are gardened rather than merely maintained
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Promote the relevance of the House and Gardens to the broadest possible audience and offer increased opportunities for enjoyment, learning, volunteering, and training
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Offer a site focused and operationally and financially leaner management approach than that provided prior to the establishment of CHGT, when the House and Gardens were managed separately
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Undertake concentrated fundraising for the site and generate additional income from the site which is re-invested in the House and Gardens
Charity Commission’s general guidance on public benefit has been reviewed when considering aims and objectives and in planning future activities, and access to the grounds, except for the Kitchen Garden, is free. During the year CHGT has continued to maintain the estate to a high standard while also managing the operations of Chiswick House.
In October 2020 CHGT published an updated Draft 10-year strategy reflecting on the impact of Covid-19 but also setting out some long-term objectives. CHGT has refreshed its mission and vision to set out a clear way forward.
Our vision is: To be a special place to delight, educate and be inspired by our 300 years of stories of influence, design, and environment. For everyone every day.
Our mission is: To conserve our historic, horticultural, and natural heritage for our visitors, sustain and improve our biodiversity and support our local community’s health and wellbeing.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Achievements and performance 2020 - 2021
The beginning of the financial year was marked by the coronavirus pandemic in the UK. This had an immediate impact on CHGT.
CHGT lost 65% of its income from trading activities and received no income from admissions as the House remained closed. This put CHGT, like many other organisations across the country, into crisis.
The Director with the management team took the decision to keep the Gardens open for the local community, having first assessed the ability to ensure the safety of staff, volunteers, and visitors, and despite many local to Chiswick closing, and took immediate action to pivot the business model by:
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1 Reducing operating costs
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2 Generating more fundraised income
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3 Reviewing and adapting the existing events business to reduce the cost of operating
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4 Identifying new short and medium-term income streams
To reduce operating costs and in keeping with the Government Covid-19 guidelines, Chiswick House was closed to visitors; staff were furloughed, the team was restructured, and some redundancies were made; and spend was reduced to essential items only, amounting to a reduction of 26% of our cost base.
The majority of staff time and resources were diverted to fundraising both locally via donations and grants. CHGT launched the #WeLoveChiswickHouse campaign. We focused on targeting our daily visitors and Covid-19 emergency funds to support the essential running costs. This resulted in 2,000 new donors to the CHGT and raising £120,000 from June until end of March 2021.
The events business was adapted by outsourcing venue hire, sales, and marketing; identifying new external event partners to run smaller scale, regular outdoor events; and increasing our hire fees and growing income from Covid-secure filming.
CHGT had far fewer events due to the pandemic – with only Luna Cinema, Chiswick Festival, and an annual Camellia Celebration online, all held so as to comply with Government guidance on social distancing. This achieved good online engagement; roughly 200 people voted in our photography competition and our ‘behind the scenes’ videos with the gardening team had on average 600 views. Weddings and private events were cancelled. Combined attendance for Luna and Chiswick Festival was over 3,000.
Despite the challenging environment posed by the pandemic, CHGT was successful in receiving a grant totalling £308,000 from the Department for Digital, Culture, Media, and Sport’s Culture Recovery Fund in October 2021. This enabled the CHGT to prepare for the safe reopening of Chiswick House to the public in Spring 2021. Funds also enabled the learning and community
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
outreach programme to restart; open with a brand-new exhibition ‘Bring into Being’ with three site specific commissions by Mark Wallinger, Peter Adjaye and Jaimini Patel; refresh retail, website, branding, interpretation, and signage; and recruit and train the visitor experience and volunteer team ready for a Covid-19-safe reopening.
CHGT also launched a new lower-level membership offer to encourage all the locals who had extensively used the grounds during the lockdowns to engage and support long term.
In January 2021, CHGT initiated the first stage of our Placemaking Plan, with the aim of unlocking potential from under-utilised outdoor spaces and buildings on the estate to generate income. Support came from the Architectural Heritage Fund’s Culture Recovery Grant to appoint Counterculture and We Made That to carry out the options appraisal.
In March 2021, with contributions from Chiswick House Friends, which is an independent charitable organisation established in 1984 to support the operation, development and protection of Chiswick House and Gardens, as well several generous donations from individuals, essential repair work was carried out in the Under 7s playground and a new sandpit and swing were installed. A new campaign for ‘Kids Outdoor Play’ was launched to raise funds for new equipment and an outdoor learning programme in 2022.
The House was closed to the public for the entirety of 2020, meaning CHGT welcomed no visitors to the House but an unprecedented number of visitors to the gardens. The average 1m visits per year increased by 80% based on the increased waste removal. CHGT’s partners, English Heritage Trust, and the London Borough of Hounslow, continued to be extremely supportive both in terms of time of expert staff as well as financially.
Once again, despite the pandemic, CHGT’s Grade 1 listed gardens, Kitchen Garden and volunteers were recognised by London in Bloom and were awarded a Green Flag. The gardens remain a huge source of pride for both CHGT and the local community.
It was an incredibly challenging year for the CHGT but, with the support of the Culture Recovery Fund, a redundancy plan, and significant cost reductions, we were able to reposition the organisation to survive the immediate crisis and, continue to provide a valuable service to our local residents and re-start our community activity with residents from across the Borough.
Service beneficiaries
The beneficiaries of the work undertaken by CHGT are typically visitors to the estate who range from local Hounslow residents including daily dog walkers, young families, children from local schools in Hounslow, nature-lovers, tourists, joggers, and picnickers, to attendees at high profile events and professional tours from UK and international groups and those who engage in the CHGT’s community programme. However, during the lockdown period, CHGT’s main beneficiary was overwhelmingly residents. Having the grounds available for daily exercise encouraged local support, and we saw a huge increase in positive feedback from the public through; either in
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
writing to us or through our social media channels, praising the open green spaces and the fact that the gardens remained open while many other comparable properties did not.
During the lockdown we also donated all our produce from the Kitchen Garden to the Hounslow Food Bank providing fresh produce to families and adults from across the Borough.
Pilot activities with local community groups were scheduled for March 2021, but the third lockdown from January through March 2021 prevented these from going ahead until the following financial year. In the planning of these activities, interest from community groups included families with young children and recent migrant families; young people, including schoolchildren and at-risk youth (ages 8–25); adults including those with physical and/or learning disabilities; older people; and cultural, inter-cultural, diaspora and intergenerational groups.
Volunteers
CHGT normally benefits from a team of volunteers who provide invaluable assistance across all the activities: gardening in the kitchen garden and on the estate, support to the team of rangers, in the archive, and by providing tours to the public in both the House and the Gardens.
During the pandemic, the decision was made to stand down our volunteer teams temporarily, for the safety of all involved. Volunteering resumed for a brief time in the autumn when some volunteers were allowed to return under strict social distancing guidelines. Over the year we had 1,695 hours volunteering which is about 20% of the hours contributed in 2019/20.
Financial review
The principal funding source for the maintenance of the Gardens is the London Borough of Hounslow and for the maintenance of the House is The English Heritage Trust (English Heritage). Other income is generated from fundraising, including donations from Chiswick House Friends, and from the trading subsidiary, ‘Chiswick House Trading Company Ltd’ which manages venue hire for weddings and other events and includes the café franchise.
Income for the year was £1,331,865 (2020 - £1,371,497) (see notes 2-3), a decrease of £39,632 (3%). There was a notable change in the source of income in the year as income from trading activities fell by £466,689 (65%) with the cancellation if weddings and events, whilst income from donations and grants increased from by £399,898 (185%). The main reason for the increase in Other Income is the inclusion of £33,490 from the Government’s Job Retention Scheme.
Total expenditure was £1,364,108 (2020 - £1,209,785) (See notes 5a-5b), an increase of £154,323.
Staff costs decreased by £89,734, in the year due to the redundancies made at the start of the year and no seasonal staff being employed due to the closure of the House.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Operational and maintenance expenditure and the cost of raising funds increased from the previous year due in part to the contracting of a part-time fundraising consultant and investment in marketing. Event costs showed a significant reduction due to very few and only small-scale events being held as permitted. Garden management costs were in line with previous years.
House management costs increased to £398,090 from £260,232, in part due to the cost of operating the House being taken over by CHGT as part of the Local Management Agreement for the House with English Heritage. This included repairs and maintenance, security, and insurance. In addition, part of the Cultural Recovery Fund grant was used to enhance the visitor offering for the 2021-22 season. Support costs increased due to an increase in IT (includes ticketing), with the move to work from home requiring investment, a full year of the Director’s cost (the position was vacant for part of last year), and financial consultancy.
The net result was a deficit of £32,243 (2020 a surplus of £161,712).
At the year end, net assets representing funds held were £361,236, a decrease of £37,138 (9%) from the position as of 31 March 2020.
Reserves
Total reserves as of 31 March 2021 were £617,760 (2020 - £650,003) and are analysed between restricted and unrestricted funds in note 17a to the accounts. Within total reserves, restricted funds showed a small increase to £199,611 (2019: £198,658) due to grants and donations relating to the playground and assets purchase with the Cultural Recovery Grant. During the year we received £430,522 in restricted grants and donations and the majority of this had to be spent in the year. Unrestricted funds decreased to £418,150 (2020: £451,345) because of the deficit in the year. Within these funds is a designated funds for fixed assets of £80,851 (2020: £96,523). In addition, a designated fund for projects of £40,000 was established at the year-end, primarily in order to allocate funds for repairs of the Rotunda of the conservatory in April/May 2021. The general fund, which is free reserves, decreased by 19% to £297,298 (2020 - £354,822).
The trustees have reviewed the reserves policy to ensure it remains realistic and appropriate. The policy is intended to help safeguard the continuity of the Charity’s operations in the event of a significant unexpected disaster, but are intended to not be too restrictive, in order that trustees continue to maximise the resources available to invest in CHGT’s charitable activities.
In the current economic uncertainty, the policy is to retain a level of free reserves equivalent to at least three months of annual revenue expenditure, excluding the expenditure funded by grant income from the principal funders, notably the London Borough of Hounslow and English Heritage, which is considered to have minimal risk. Three months’ expenditure is sufficient time to stabilise the business in the event of such an adverse event, as was shown by the quick response of management at the start of the Covid pandemic in early 2020. This calculation requires CHGT to
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
hold free reserves of £204,000 and, at 31 March 2021, free reserves were £297,298, so, at the year end, CHGT complied with this reserves policy. The reserves policy is reviewed annually.
Principal risks and uncertainties
The trustees have a duty to identify and review the risks to which CHGT is exposed and to ensure appropriate controls are in place to mitigate them. The risk register is reviewed and updated each month by the Senior Management Team (SMT) and submitted to the Finance, Audit, and Risk Committee and to Trustees at each Board meeting.
The principal risk currently faced, is the loss of income and steps taken to mitigate it, is as follows:
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The Government’s response to the Covid-19 pandemic has affected CHGT significantly. In 2020/21 and CHGT experienced a fall in earned income from catering, partner events and weddings and it will take several years for these income streams to recover. The income from these areas subsidise the other operations of CHGT which consist, primarily of care and maintenance of the House and Gardens, opening them to the general public. While the Trust has reserves, these are limited and will need to be deployed carefully. Other sources of income are being actively followed – this includes individual and grant fundraising. We reduced staff costs in Summer 2020. In October 2020 and January 2021, we were successful in obtaining a grant of £308,000 from the Government’s Cultural Recovery Fund to be spent by 31 March 2021 on designated projects.
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Our projections are based on assumptions that we currently consider reasonable, but we are living through an unprecedented economic crisis and our forecasting is not as reliable as we would wish given the uncertainty. If our income does not start to return in 2021/22 to prepandemic levels, then CHGT would need to look at further efficiency savings. To mitigate this possibility, we are diversifying our commercial events introducing a broader range of more regular income generating activities, investing in retail, identifying additional pop-up catering options, outsourcing our venue hire business to free up CHGT team to deliver the above. We are also investing in our individual giving and corporate fundraising schemes. We are confident that the financial support from the London Borough of Hounslow and English Heritage Trust is not at risk through to March 2023, and this provides a secure source of funds for essential maintenance to the House and Gardens.
Other principal risks currently faced, and steps taken to mitigate them, are as follows:
- CHGT is in receipt of funding from its two partners, London Borough of Hounslow, and English Heritage. Were that funding to be reduced for any reason, the CHGT would be at risk financially. CHGT works with the partners to ensure that, if any changes to funding structures were necessary, these would be discussed in advance in order that changes to spending could be made, should these be required. The Local Management Agreement (LMA) with English Heritage, under which responsibility for care and operation of the House is transferred to CHGT is due for renewal in March 2022.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
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The estate houses thousands of trees, at least 2,400 of these have a girth of 75cm or more, which puts them at a higher risk for damage from the elements. The gardening team carry out an annual tree survey to mitigate danger and maintain the trees to a safe condition. In addition to this, the site utilises a wind monitor – if the wind speed exceeds 40mph then the Gardens are closed to the public to ensure that they are protected from any damaged trees or falling limbs.
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The estate also contains two lake areas; while one is enclosed the other is partially accessible to the public on the Western Lawn. This is a popular area with visitors, including dog walkers and those with children, although the depth of the water is limited. To mitigate any risk of injury in these areas CHGT works with industry professionals from other locations to ensure that we are following best practice safety regulations.
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Overstretched resources could adversely impact both the visitor experience and the wellbeing of our employees and volunteers. We recognise the additional challenge of continuing to deliver ambitious financial targets against the background of significant economic uncertainty. We focus on ensuring that we have the right combination and number of roles to support delivery of the business plan, and projects are carefully prioritised to support our strategic priorities.
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CHGT takes its duty of care to the public and to its staff and volunteers extremely seriously and we have an excellent track record in preventing harm. Disaster recovery plans and health and safety policies are regularly reviewed. We are developing more robust safeguarding policies. With regard to Covid-19, we have carried out detailed health and safety assessments throughout the pandemic to ensure that we can safely welcome back visitors and staff and we have invested in appropriate safety measures and training.
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While CHGT does not own the House and other buildings on the estate, if there were a deterioration to these, it could cause a loss of income from visitors and commercial events as well as damage the reputation of the CHGT. It has a management and maintenance plan in place to ensure that the gardens and buildings in their care are well maintained. The Conservatory is one of the structures on the estate which requires significant maintenance and deterioration of the Conservatory could have a detrimental effect on our wedding business as well as make it more challenging to care for our historic camellias. During winter 2019 the CHGT worked with professional experts to carry out some essential repair and maintenance works to the Conservatory structure and identify options for the care of the Conservatory into the future. These are being considered by London Borough of Hounslow who own the Conservatory.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Structure, governance, and management
The Chiswick House and Gardens Trust is a Charitable Company Limited by Guarantee, incorporated on 6 July 2004 and registered as a charity with the Charity Commission on 27 April 2005. The Company was established under a memorandum and articles of association which sets out the objects and powers of the Company and its governance. In the event of the Company being wound up Trustee are required to contribute an amount not exceeding £10.
All trustees give their time voluntarily and receive no benefits from the charity. Expenses reclaimed are disclosed in note 7 to the accounts.
The trustees of the Charity are also directors of the Company for the purposes of charity law.
Appointment of trustees
In accordance with the articles of association and the recommendations of the independent review of the CHGT’s governance approved by the board on 28 February 2019, the chair of the board is appointed by EHT and LBH jointly. They may each appoint a further two trustees. The Board may appoint additional trustees in accordance with the articles. The total number of trustees, including the Chair, shall not exceed eleven. All appointments of trustees, including the Chair, shall be for a term of four years which may be renewed for a further four years.
Organisational structure
The Board of Trustees administers the Charity and is responsible for its strategic direction and policy. The Board meets quarterly and comprises the members listed on page 1 of this report.
The principal sub-committee is the Finance, Audit and Risk Committee which is made up of a minimum of three trustees with specialist expertise and the Director. The Finance, Audit and Risk Committee meets in advance of a Board Meeting and at other times as and when required. There is also a Heritage and Gardens Advisory Panel and a Trading company board. All these have trustee representation.
The Board delegates day to day management to Xanthe Arvanitakis, Director, and the other senior staff listed on page 1.
Trustee induction and training
New trustees meet the Chair and the Chair of the Finance, Audit and Risk Committee as well as the Director and senior staff before their first meeting. In addition, they are given a welcome pack of information about the organisation and a copy of the Charity Commissions guidance to becoming a new trustee (Charity Commission document ref:CC3).
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Related parties and relationships with other organisations
English Heritage and the London Borough of Hounslow are both related parties. In addition to their role in appointing trustees, see above, Chiswick House was managed by English Heritage on behalf of the Department for Digital, Culture, Media & Sport, and the Gardens of Chiswick House are owned by the London Borough of Hounslow.
In April 2010, the Charity assumed the management of the Gardens on behalf of the London Borough of Hounslow pending a 99-year lease, which was signed in May 2013. The Charity also assumed limited operational functions within Chiswick House including education, volunteering, and hospitality. Both events followed a major restoration of the historic landscape and improvement to visitor facilities (by the CHGT and the related parties) made possible by a substantial grant from the Heritage Lottery Fund and other fundraised donations.
Then, on 6 April 2017, Chiswick House and Gardens Trust took over the operational management of Chiswick House from English Heritage.
Remuneration policy for key management personnel
CHGT’s approach for remuneration is to base salaries on those paid for comparable jobs in the sector and to review the size and scale of the role in conjunction with the organisation. Annual increments are paid related to the going rate in the charity sector and the economy as a whole. A non-pensionable bonus may be paid for exceptional performance in the year.
Policy for employment of disabled persons
CHGT advertises all job vacancies and there are no restrictions for the applicants. CHGT will not discriminate because of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race (which included colour, nationality and ethnic or national origins), religion or belief, sex, or sexual orientation. It will not discriminate because of any other factor and will build a culture that values meritocracy, openness, fairness, and transparency. The Estate Yard, garden buildings, gardens and offices are fully accessible. In the Kitchen Garden raised beds have been introduced to ensure that all volunteers and staff are able to garden. Should a member of staff become disabled, all consideration will be made to enable them to work.
Fundraising
CHGT uses its own staff to provide fundraising activities with individual donors as well as Trusts and Foundations. CHGT has complied with all fundraising regulations during the financial year and has received no complaints regarding its fundraising activities. CHGT will only approach individuals who have expressed an interest in becoming a donor through one of its initiatives such as the membership and Patrons scheme or memorial benches.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Statement of responsibilities of the trustees
The trustees (who are also directors of Chiswick House and Gardens Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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There is no relevant audit information of which the charitable company’s auditor is unaware
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● The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees on 31 March 2020 was 11 (2018: 16). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
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The Chiswick House and Gardens Trust
Trustees’ annual report
For the year ended 31 March 2021
Auditor
Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.
The trustees’ annual report has been approved by the trustees on 17 September 2021 and signed on their behalf by
Sir Derek Myers Chair
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Independent auditor’s report
To the members of
The Chiswick House and Gardens Trust
Opinion
We have audited the financial statements of The Chiswick House and Gardens Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2021 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2021 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
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Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Chiswick House and Gardens Trust's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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Independent auditor’s report
To the members of
The Chiswick House and Gardens Trust
Other Information
The other information comprises the information included in the trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information, and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements
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The trustees’ annual report, including the strategic report has been prepared in accordance with applicable legal requirements
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:
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Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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The parent charitable company financial statements are not in agreement with the accounting records and returns; or
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Certain disclosures of trustees’ remuneration specified by law are not made; or
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We have not received all the information and explanations we require for our audit; or
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The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.
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Independent auditor’s report
To the members of
The Chiswick House and Gardens Trust
Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
-
We enquired of management and the Finance Committee, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:
-
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
-
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
16
Independent auditor’s report
To the members of
The Chiswick House and Gardens Trust
-
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
-
We inspected the minutes of meetings of those charged with governance.
-
We obtained an understanding of the legal and regulatory framework that the charity/ group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity/group from our professional and sector experience.
-
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
-
We reviewed any reports made to regulators.
-
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
-
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
-
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose.
17
Independent auditor’s report
To the members of
The Chiswick House and Gardens Trust
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Jonathan Orchard (Senior statutory auditor)
29 September 2021
for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL
Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006
18
The Chiswick House and Gardens Trust
Consolidated statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2021
| Note Income from: 2 3 4 5 5 5 6 Reconciliation of funds: Investments Other Total income Expenditure on: Donations, grants and legacies Charitable activities Other trading activities Estate Management Property rents Raising funds Net income for the year Total expenditure Charitable activities Gardens management House management Total funds brought forward Total funds carried forward Transfers between funds Net movement in funds |
Unrestricted £ 186,782 358,205 246,962 420 39,411 69,563 |
Restricted £ 430,522 - - - - - |
2021 Total £ 617,304 358,205 246,962 420 39,411 69,563 1,331,865 428,038 537,980 398,090 1,364,108 (32,243) - (32,243) 650,003 617,760 |
Unrestricted £ 20,363 348,472 713,651 1,200 38,861 51,907 |
2020 Restricted Total £ £ 197,043 217,406 - 348,472 - 713,651 - 1,200 - 38,861 - 51,907 197,043 1,371,497 - 466,308 84,782 483,245 - 260,232 84,782 1,209,785 112,261 161,712 - - 112,261 161,712 86,397 488,291 198,658 650,003 |
|---|---|---|---|---|---|
| 901,343 | 430,522 | 1,174,454 | |||
| 342,996 404,800 186,743 |
85,042 133,180 211,347 |
466,308 398,463 260,232 |
|||
| 934,539 | 429,569 | 1,125,003 | |||
| (33,195) - |
952 - |
49,451 - |
|||
| (33,195) 451,345 |
952 198,658 |
49,451 401,894 |
|||
| 418,150 | 199,610 | 451,345 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18 to the financial statements.
19
The Chiswick House and Gardens Trust
Company no. 05171882
Balance sheets
As at 31 March 2021
| Note Fixed assets: 11 12 Current assets: 14 Liabilities: 15 17 18 Total unrestricted funds Total funds Cash at bank and in hand Tangible assets Investments Unrestricted income funds: Designated funds fixed assets General funds Creditors: amounts falling due within one year Net current assets Total net assets Designated funds projects Stock Debtors Funds: Restricted income funds |
2021 2020 £ £ 256,524 251,629 - - 256,524 251,629 11,555 2,712 170,092 189,641 451,373 498,094 633,020 690,447 (271,784) (292,072) 361,236 398,374 617,760 650,004 199,611 198,658 80,851 96,523 40,000 - 297,298 354,822 418,150 451,345 617,760 650,003 The group |
2021 2020 £ £ 256,524 251,629 - - 256,524 251,629 11,555 2,712 170,092 189,641 451,373 498,094 633,020 690,447 (271,784) (292,072) 361,236 398,374 617,760 650,004 199,611 198,658 80,851 96,523 40,000 - 297,298 354,822 418,150 451,345 617,760 650,003 The group |
2021 2020 £ £ 256,524 251,629 1,000 1,000 257,524 252,629 - - 70,300 131,193 405,414 487,514 475,714 618,707 (194,449) (506,229) 281,265 112,478 538,789 365,107 199,611 198,658 80,851 96,523 40,000 - 218,327 69,926 339,178 166,449 538,789 365,107 The charity |
2021 2020 £ £ 256,524 251,629 1,000 1,000 257,524 252,629 - - 70,300 131,193 405,414 487,514 475,714 618,707 (194,449) (506,229) 281,265 112,478 538,789 365,107 199,611 198,658 80,851 96,523 40,000 - 218,327 69,926 339,178 166,449 538,789 365,107 The charity |
|---|---|---|---|---|
| 256,524 11,555 170,092 451,373 |
251,629 2,712 189,641 498,094 |
257,524 - 70,300 405,414 |
252,629 - 131,193 487,514 |
|
| 633,020 (271,784) |
690,447 (292,072) |
475,714 (194,449) |
618,707 (506,229) |
|
| 361,236 | 398,374 | 281,265 | 112,478 | |
| 617,760 | 650,004 | 538,789 | 365,107 | |
| 199,611 80,851 40,000 297,298 |
198,658 96,523 - 354,822 |
199,611 80,851 40,000 218,327 |
198,658 96,523 - 69,926 |
|
| 418,150 | 451,345 | 339,178 | 166,449 | |
| 617,760 | 650,003 | 538,789 | 365,107 |
Approved by the trustees on 17 September 2021 and signed on their behalf by
Sir Derek Myers Chair
20
The Chiswick House and Gardens Trust
Consolidated statement of cash flows
For the year ended 31 March 2021
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Cash flows from operating activities | |||||
| Net income for the reporting period | (32,243) | 161,713 | |||
| (as per the statement of financial activities) | |||||
| Depreciation charges | 65,011 | 54,202 | |||
| Interest receivable | (420) | (1,200) | |||
| (Increase)/ Decrease in stocks | (8,843) | 2,187 | |||
| Decrease / (Increase) in debtors | 19,549 | (109,534) | |||
| (Decrease) in creditors | (20,288) | (4,338) | |||
| Net cash provided by operating activities | 22,765 | 103,030 | |||
| Cash flows from investing activities: | |||||
| Interest receivable | 420 | 1,200 | |||
| Purchase of fixed assets | (69,906) | (89,731) | |||
| Net cash (used in) investing activities | (69,486) | (88,531) | |||
| Change in cash and cash equivalents in the year | (46,721) | 14,499 | |||
| Cash and cash equivalents at the beginning of the | |||||
| year | 498,094 | 483,595 | |||
| Cash and cash equivalents at the end of the year | 451,373 | 498,094 |
21
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
- 1 Accounting policies
a) Statutory information
The Chiswick House and Gardens Trust (CHGT) is a charitable company limited by guarantee and is incorporated in England.
The registered office address is The Chiswick House and Gardens Trust, The Estate Office, Chiswick House, LONDON, W4 2QN.
b) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
These financial statements consolidate the results of the charitable company and its wholly-owned subsidiary Chiswick House Trading Company Ltd on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
d) Going concern
The Chiswick House and Gardens Trust is currently trading viably but the uncertain environment continues. Our projections are based on assumptions that we consider reasonable but there continues to be uncertainty. Government restrictions that limited social gatherings delayed the opening of the House to the end of May 2021 and has impacted wedding and events income. However, we are mitigating our risk by continuing to control costs, working to diversify our income into more stable long-term income such as increased rentals and retail opportunities. In addition, CHGT has applied for and continues to apply for a series of grants to improve our financial position. Subsequent to the year end we have been successful in obtaining grants from the Government's Cultural Recovery Fund Two, the Foyle Foundation and the Linbury Trust. We continue to receive sufficient financial help from EHT and LBH to complete maintenance to the House and the Gardens.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
22
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
-
1 Accounting policies (continued)
-
f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
-
g) Interest receivable
-
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
h) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
-
i) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
-
Expenditure on charitable activities includes the costs of running the house, gardens and ancillary buildings and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
k) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
-
Estate management 41%
-
House management 32% Raising funds for charitable activities and trading 26% Governance costs 1%
Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
Governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity
-
Estate management 42%
-
House management 32% Raising funds for charitable activities and trading 26%
23
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
1 Accounting policies (continued)
Allocation of support costs (continued)
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
l) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
m) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £750. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
-
Building improvements
-
IT and equipment
10 years 3-5 years
Investments in subsidiaries
Investment in Chiswick House Trading Company Ltd, a wholly owned subsidiary of Chiswick House and Gardens Trust, is at cost.
o) Stocks
Stock relates to items held in the shop at the year end and are recorded at cost price or net realisable value if lower.
p) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
s) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
t) Financial instruments
- The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
u) Pensions
The Trust makes payments to defined contribution pension schemes on behalf of employees. The assets of the schemes are held separately from those of the Trust in independently administered funds. The pension cost charge represents contributions payable to the funds during the year. The Trust has no liability under the schemes other than the payment of those contributions.
24
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
- 2 Income from donations, grants and legacies
| Trusts, grants and foundations Commemorative benches Chiswick House Friends Other individual donations Income from charitable activities Total income from charitable activities Estate management (House and Gardens) London Borough of Hounslow English Heritage Trust House admissions |
Unrestricted £ 5,000 - 40,000 141,782 |
£ 373,388 12,000 30,000 15,134 Restricted |
2021 Total £ 378,388 12,000 70,000 156,916 |
Unrestricted £ - - 5,982 14,381 |
£ 173,978 12,000 6,862 4,203 Restricted |
2020 Total £ 173,978 12,000 12,844 18,584 |
|---|---|---|---|---|---|---|
| 186,782 | 430,522 | 617,304 | 20,363 | 197,043 | 217,406 | |
| Unrestricted £ 308,839 50,000 (633) |
£ - - - Restricted |
2021 Total £ 308,839 50,000 (633) |
Unrestricted £ 294,368 24,000 30,104 |
£ - - - Restricted |
2020 Total £ 294,368 24,000 30,104 |
|
| 358,205 | - | 358,205 | 348,472 | - | 348,472 |
3 Income from charitable activities
4 Income from other trading activities
| Filming & photography Other Weddings Commercial and community Catering commissions Car park Retail sales |
Unrestricted £ 25,608 66,183 95,790 26,572 28,433 4,376 - |
£ - - - - - - - Restricted |
2021 Total £ 25,608 66,183 95,790 26,572 28,433 4,376 - |
Unrestricted £ 162,699 328,297 156,690 32,525 18,427 14,913 100 |
2020 Total £ £ - 162,699 - 328,297 - 156,690 - 32,525 - 18,427 - 14,913 - 100 - 713,651 Restricted |
|---|---|---|---|---|---|
| 246,962 | - | 246,962 | 713,651 |
25
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
5a Analysis of expenditure (current year)
| Staff costs Other staff costs Projects and maintenance Events and security Depreciation Office Bank charges Audit and professional fees Other Support costs Governance costs Total expenditure 2021 Total expenditure 2020 |
Trading & cost of raising funds £ 110,019 - 113,794 73,671 376 34,763 2,207 - 3,395 338,225 83,889 5,924 428,038 466,308 |
Charitable activities | Charitable activities | Governance costs £ - - - - - - - 19,276 - 19,276 3,448 (22,723) - - |
Support costs £ 139,436 7,429 - - 20,489 116,432 1,926 - 39,503 325,215 (325,215) - - - |
2021 Total 2020 Total £ £ 436,956 526,690 45,264 5,120 525,129 261,952 73,671 230,928 65,011 54,202 151,770 89,795 4,133 3,064 19,276 8,313 42,898 29,721 1,364,108 1,209,785 - - - - 1,364,108 - 1,209,785 |
|---|---|---|---|---|---|---|
| Gardens Management £ 132,775 - 248,246 - 12,395 - - - - 393,416 135,028 9,536 537,979 483,245 |
House Management £ 54,726 37,835 163,089 - 31,751 575 - - - 287,976 102,851 7,263 398,090 260,232 |
26
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
5b Analysis of expenditure (prior year)
| Staff costs (Note 7) Other staff costs Projects and maintenance Events and security Depreciation Office Bank charges Audit and professional fees Other Support costs Governance costs Total expenditure 2020 |
Trading & cost of raising funds £ 143,620 - 12,135 227,316 14,396 - - - 7,688 405,155 59,020 2,133 466,308 |
Charitable activities | Charitable activities | Governance costs £ - - - - - - - 8,313 - 8,313 1,180 (9,493) - |
Support costs 2020 Total £ £ 117,937 526,690 5,120 5,120 - 261,952 3,612 230,928 23,888 54,202 88,164 89,795 3,064 3,064 - 8,313 22,033 29,721 263,818 1,209,785 (263,818) - - - - 1,209,785 |
|---|---|---|---|---|---|
| Gardens Management £ 169,013 - 232,873 - 14,090 - - - - 415,976 64,922 2,347 483,245 |
House Management £ 96,120 - 16,944 - 1,828 1,631 - - - 116,523 138,696 5,013 260,232 |
27
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
- 6 Net income for the year
This is stated after charging:
| This is stated after charging: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation | 65,011 | 54,202 |
| Operating lease rentals: | ||
| Other | 304 | 304 |
| Auditor's remuneration (excluding VAT): | ||
| Audit | 7,900 | 7,900 |
| Other services | 6,350 | 750 |
7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Staff costs were as follows:
| Social security costs Employer’s contribution to defined contribution pension schemes Salaries and wages |
2021 2020 £ £ 389,627 465,246 32,538 37,866 52,626 23,578 474,791 526,690 |
|---|---|
One employee received employee benefits (excluding employer pension costs and employer's national insurance) over £60,000 (2020: none).
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £186,284 (2020: £171,529).
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
Trustee expenses were £Nil (2020: £Nil)
8 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
| Trading and raising funds House operations Support Garden management |
2021 2020 No. No. 2.43 5.00 4.42 5.50 2.98 11.75 3.17 4.00 13.00 26.25 |
|---|---|
28
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
9 Related party transactions
Unrestricted donations of £2,594 were received from related parties (2020: £1,500) and restricted donations of £750 (2020:£0)
During the year the charity received donations of £70,000 (2020: £12,844) from Chiswick House Friends, a registered charity, of which £30,000 was restricted income. Chiswick House Friends is registered charity, and a separate entity to Chiswick House and Gardens Trust. One trustee of Chiswick House and Gardens Trust during the year is also a trustee of Chiswick House Friends.
A management charge of £44,918 (2020: £74,603) was charged by the charity to the trading subsidiary, Chiswick House Trading Company Ltd to cover a proportion of central and operational costs of the Group.
10 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary Chiswick House Trading Company Limited distributes under Gift Aid available profits to the parent charity.
11 Tangible fixed assets
| The group and charity Cost Depreciation At the start of the year Additions in year Disposals in the year At the end of the year At the end of the year At the start of the year Charge for the year Net book value At the end of the year At the start of the year Depreciation on disposals |
Buildings improvements £ 249,878 - - |
IT and equipment £ 277,352 69,906 (28,800) |
Total £ 527,230 69,906 (28,800) |
|---|---|---|---|
| 249,878 | 318,458 | 568,336 | |
| 102,008 26,267 - |
173,593 38,744 (28,800) |
275,601 65,011 (28,800) |
|
| 128,275 | 183,537 | 311,812 | |
| 121,603 | 134,921 | 256,524 | |
| 147,870 | 103,759 | 251,629 |
All of the above assets are used for charitable purposes.
29
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
12 Subsidiary undertaking
The charity owns the whole of the issued ordinary share capital of Chiswick House Trading Company Ltd, a company registered in England. The company number is 07152064. The registered office address is The Estate Yard, Chiswick House, London W4 2QN.
The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the parent charity.
A summary of the results of the subsidiary is shown below:
| A summary of the results of the subsidiary is shown below: | ||
|---|---|---|
| Management charge payable to parent undertaking Profit on ordinary activities before interest and taxation Interest receivable and similar income Gross profit Administrative expenses Profit for the financial year The aggregate of the assets, liabilities and reserves was: Taxation on profit on ordinary activities Retained earnings Total retained earnings brought forward Profit on ordinary activities before taxation Profit for the financial year Distribution under Gift Aid to parent charity Total retained earnings carried forward Assets Liabilities Reserves Turnover Cost of sales |
2021 £ 256,427 (127,456) |
2020 £ 713,651 (349,382) |
| 128,971 (5,234) (44,918) |
364,269 (4,865) (74,603) |
|
| 78,819 134 |
284,801 79 |
|
| 78,953 - |
284,880 - |
|
| 78,953 | 284,880 | |
| 284,898 78,953 (284,880) |
332,111 284,880 (332,093) |
|
| 78,971 | 284,898 | |
| 262,685 (183,714) |
499,910 (214,012) |
|
| 78,971 | 285,898 |
Amounts owed to/from the parent undertaking are shown in note 15.
13 Parent charity
The parent charity's gross income and the results for the year are disclosed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Gross income | 1,405,105 | 1,064,542 |
| Result for the year | 173,684 | 208,925 |
30
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
14 Debtors
| Trade debtors Taxation and social security Other debtors Prepayments Accrued income |
2021 2020 £ £ 87,159 46,204 1,800 1,800 7,351 10,805 - 356 73,782 130,476 170,092 189,641 The group |
2021 2020 £ £ 87,159 46,204 1,800 1,800 7,351 10,805 - 356 73,782 130,476 170,092 189,641 The group |
2021 2020 £ £ 19,478 2,096 1,800 1,800 4,616 3,550 - 7,247 44,406 116,500 70,300 131,193 The charity |
|---|---|---|---|
| 170,092 | 189,641 |
15 Creditors: amounts falling due within one year
| Balance at the beginning of the year Amount released to income in the year Amount refunded in the year Amount deferred in the year Balance at the end of the year Comprising: Weddings Other events and projects Other creditors Accruals Deferred income (note 16) Amounts due to group undertakings Taxation and social security Deferred income Trade creditors |
2021 2020 £ £ 57,901 92,998 20,751 11,276 4,330 9,208 - - 34,658 17,824 154,144 160,767 271,784 292,072 2021 2020 £ £ 160,767 165,855 (60,358) (165,855) (45,292) - 99,027 160,767 154,144 160,767 41,409 73,790 112,736 86,977 154,144 160,767 The group The group |
2021 2020 £ £ 57,901 92,998 20,751 11,276 4,330 9,208 - - 34,658 17,824 154,144 160,767 271,784 292,072 2021 2020 £ £ 160,767 165,855 (60,358) (165,855) (45,292) - 99,027 160,767 154,144 160,767 41,409 73,790 112,736 86,977 154,144 160,767 The group The group |
2021 2020 £ £ 45,931 54,707 (3,124) - 1,800 1,876 105,379 421,279 28,993 16,252 15,470 12,115 194,449 506,229 2021 2020 £ £ 12,115 13,353 - (13,353) (3,645) - 7,000 12,115 15,470 12,115 - - 15,470 12,115 15,470 12,115 The charity The charity |
2021 2020 £ £ 45,931 54,707 (3,124) - 1,800 1,876 105,379 421,279 28,993 16,252 15,470 12,115 194,449 506,229 2021 2020 £ £ 12,115 13,353 - (13,353) (3,645) - 7,000 12,115 15,470 12,115 - - 15,470 12,115 15,470 12,115 The charity The charity |
|---|---|---|---|---|
| 154,144 | 160,767 | 15,470 | 12,115 | |
| 41,409 112,736 |
73,790 86,977 |
- 15,470 |
- 12,115 |
|
| 154,144 | 160,767 | 15,470 | 12,115 |
16 Deferred income
17a Analysis of group net assets between funds (current year)
| Net current assets Net assets at 31 March 2020 Tangible fixed assets |
General unrestricted £ - 297,298 |
Designated funds £ 80,851 40,000 |
Restricted funds Total funds £ £ 175,673 256,524 23,938 361,236 199,611 617,760 |
|---|---|---|---|
| 297,298 | 120,851 |
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The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
- 17b Analysis of group net assets between funds (prior year)
| 18a Total restricted funds Total designated funds General funds Projects Melon House Stables Net assets at 31 March 2019 Movements in funds (current year) Security Cameras Total funds Exhibition Events Work from Home Support Unrestricted funds: Fixed assets Marion Scrine Garden Donations Cultural Recovery Fund Grant Restricted funds: Emergency Grant Playground Resilient Funds Placemaking Plan Playground - Individual Donations Opening Exhibition Playground Grant The Lohr Family Fund Designated funds: Chiswick House Friends: Memorial Benches Net current assets Tangible fixed assets Total unrestricted funds |
At 1 April 2020 £ 35,375 30,000 - - 12,580 - - - - - - - - 116,500 - 4,203 |
General unrestricted £ - 354,822 |
Designated funds £ 96,523 - |
Restricted funds £ 155,106 43,552 |
Total funds £ 251,629 398,374 |
|---|---|---|---|---|---|
| 354,822 | 96,523 | 198,658 | 650,003 | ||
| Income & gains £ - - 10,000 20,000 - 12,000 7,481 32,800 15,633 6,154 287,495 3,720 18,740 - 15,000 1,499 |
Expenditure & losses £ (4,200) (7,500) (4,249) (13,370) (12,580) (12,000) - (30,867) (14,212) - (253,516) (3,720) (18,740) (51,419) (1,105) (2,091) |
Transfers £ - - - - - - - - - - - - - - - - |
At 31 March 2021 £ 31,175 22,500 5,751 6,630 - - 7,481 1,933 1,421 6,154 33,979 - - 65,081 13,895 3,611 |
||
| 198,658 | 430,522 | (429,569) | - | 199,611 | |
| 96,523 - |
- - |
- - |
(15,672) 40,000 |
80,851 40,000 |
|
| 96,523 | - | - | 24,328 | 120,851 | |
| 354,822 | 901,343 | (934,539) | (24,328) | 297,298 | |
| 451,345 | 901,343 | (934,539) | - | 418,149 | |
| 650,003 | 1,331,865 | (1,364,108) | - | 617,760 |
The narrative to explain the purpose of each fund is given at the foot of the note below.
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The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
18b Movements in funds (prior year)
| Total restricted funds Total designated funds General funds Unrestricted funds: Designated funds: Fixed assets Total unrestricted funds Total funds Restricted funds: Garden tools Conservatory repairs Security Cameras Chiswick House Friends: Melon House Summer Party Cascade repair Resilient funds Knot garden Playground - Individual Donations Memorial benches Educator/kitchen garden Kitchen garden salary Stables |
At 1 April 2019 £ 40,333 37,500 - - 4,990 - 2,274 1,300 - - - - - |
Income & gains £ - - 1,000 5,862 34,000 12,000 964 - 3,000 5,000 14,514 116,500 4,203 |
Expenditure & losses £ (4,958) (7,500) (1,000) (5,862) (26,410) (12,000) (3,238) (1,300) (3,000) (5,000) (14,514) - - |
Transfers At 31 March 2020 £ £ - 35,375 - 30,000 - - - - - 12,580 - - - - - - - - - - - - - 116,500 - 4,203 - 198,658 (41,744) 96,523 (41,744) 96,523 41,744 354,822 - 451,345 - 650,003 |
|---|---|---|---|---|
| 86,397 | 197,043 | (84,782) | ||
| 138,267 | - | - | ||
| 138,267 | - | - | ||
| 263,627 | 1,174,454 | (1,125,003) | ||
| 401,894 | 1,174,454 | (1,125,003) | ||
| 488,291 | 1,371,497 | (1,209,785) |
Purposes of restricted funds
Stables
A grant was received from Suez for the purpose of refurbishing the Stable block used for learning sessions and by volunteers. This is shown as a fixed asset within restricted funds.
Chiswick House Friends:
- Melon House
Funds raised by Chiswick House Friends for the purpose of restoring the Melon House which was opened in May 2015. This is shown as a fixed asset within restricted funds.
- Work from Home Support
Emergency funds to IT equipment and set up systems to enable staff to work from home and flexibly during the pandemic.
- Playground
Funds towards equipment for the playground and to provide support in the playground fundraising appeal.
- Summer party
Funds raised by Chiswick House Friends towards the cost of a staff summer party in 2019.
▪ Cascade repair
Funds raised by Chiswick House Friends towards the cost of repairing the cascade in early 2020.
33
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
18 Movement in funds (continued)
Purposes of restricted funds
Resilient funds
A grant was received from the National Lottery Heritage fund towards the costs of a governance review, access audit, visitor engagement research and to fundraising support costs.
Memorial benches
Procurement or refurbishment of commemorative garden benches including 10 year bench maintenance programme and general garden upkeep.
Opening Exhibition Events
Fundraised towards 2021 season of public programme events with the House re-opening and new exhibition.
Emergency Grant
A grant was received from the Cultural Recovery Fund towards the costs the summer of 2020 to provide emergency financial support to specific core costs.
Placemaking Plan
A grant from the Architectural Heritage Fund to develop a placemaking plan to identify how to optimise the buildings and outdoor spaces to develop the resilience of the Trust. The report is due in the summer 2021.
Marion Scrine Garden Donations
Donations received for specified garden projects.
Cultural Recovery Fund Grant
Cultural Recovery Fund Grant towards the specific costs to incurred during the Pandemic to support the Trust.
The Lohr Family Fund
Donation towards staff salaries to further the charitable purposes of the organisation.
Opening Exhibition
S106 from the London Borough of Hounslow towards Opening Exhibition in 2021.
Security Cameras
S106 from London Borough of Hounslow for new security surveillance system for the House.
Playground Grant
S106 from London Borough of Hounslow towards refurbishing the playground.
Playground - Individual Donations
Funds raised for refurbishing the playground.
Knot Garden
Tesco Bags For Help donated funds to pay for the construction of a knot garden in the walled Kitchen Garden.
Garden Tools
The Finnis Scott Foundation gave a grant to pay for new equipment to be used by the volunteers.
Educator/kitchen Garden
Kew Horticultural Society donation to pay towards these expenses.
Kitchen Garden salary
Funds from Nineveh Charitable Trust to fund the kitchen gardener position.
Conservatory repairs
Funds from Viridor for the repairs to the conservatory.
34
The Chiswick House and Gardens Trust
Notes to the financial statements
For the year ended 31 March 2021
- 18 Movements in funds (continued)
Purposes of designated funds:
Fixed assets
Fixed assets held by the Trust are not readily realisable and those held within unrestricted funds have been transferred to a separate designated fund. The transfer reflects additions and depreciation during the year.
Projects
Funds allocated towards specific projects including emergency repairs required to the rotunda of the Conservatory in April and May 2021.
- 19 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
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