2025-03-31-accounts - Chiswick House And Gardens Trust

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CHISWICK HOUSE Company number: 05171882 & GARDENS TRUST

Charity Number: 1109239 Company number: 05171882

The Chiswick House and Gardens Trust

Report and financial statements for the year ended 31 March 2025

& Contents GARDENS TRUST

Reference and administrative information	1
Trustees’ annual report	3
Independent auditor’s report 21	21
Statement of financial activities (incorporating an income and expenditure account) 25	25
Balance sheets	26
Statement of cashflows	27
Notes to the financial statements	28

& GARDENS TRUST

Reference and administrative information for the year ended 31 March 2025

Company number 05171882

Charity number 1109239 Registered office The Estate Office and operational Chiswick House address London W4 2QN Country of England & Wales registration

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:

Sian Alexander	(I) Chair (resigned 14 March 2025)
Jeremy Ashbee	(EHT) (appointed 13 December 2024)
Heather Clark Charrington	(I) (Development Committee) (Remuneration Committee) (appointed 20
	September 2024)
Cllr Amy Croft	(LBH)
Sebastian Edwards	(I) (Chair of Heritage Advisory Panel)
Kauser Fadal	(I) (Nominations Committee) (appointed 20 September 2024)
Kathryn Foster	(I) (Finance, Audit & Risk Committee) (resigned 20 December 2024)
Paula Ghosh	(I) (resigned 14 March 2025)
Clare Hebbes	(I) (Chair of Capital Project Board) (appointed 20 September 2024)
Nazir Hussein	(I) (Finance, Audit & Risk Committee) (Capital Project Board) (appointed
	20 September 2024)
Lycia Lobo	(EHT until 7 February 2025) (I) (Chair of Finance, Audit & Risk Committee
	from 21 September 2024)
Elizabeth Smith	(I co-opted) (Capital Project Board)
Mark Stuart Smith	(EHT until 24 June 2024) (Chair of Finance, Audit & Risk Committee)
	(resigned 20 September 2024)
Vicky Taylor	(I) Acting Chair (Development Committee)
Cllr John Todd	(LBH) (Finance, Audit & Risk Committee)
Simon Toomer	(I co-opted) (appointed 13 December 2024)
Taz Virdee	(I) (Development Committee) (appointed 20 September 2024)
Jimmy Weir	(I co-opted) (Chair of Development Committee) (Capital Project Board)

Company Secretary

Xanthe Arvanitakis

Nominated by

The London Borough of Hounslow (‘LBH’)

The English Heritage Trust (‘EHT’) Independent (‘I’)

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& GARDENS TRUST

Reference and administrative information for the year ended 31 March 2025

Key management personnel

Xanthe Arvanitakis Director Laura Arthurton Head of Finance (resigned 30 June 2024) Ekaete Onipinla Head of Finance (appointed 15 April 2024) Rosie Fyles Head of Gardens Nicki Thomas Head of Commercial Sue Sandle Head of Development Bankers HSBC Bank plc 593-599 Fulham Road London SW6 5UA Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane London EC1Y 0TG

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& GARDENS TRUST

Trustees’ annual report for the year ended 31 March 2025

Trustees present their report and the audited financial statements for the year ended 31 March 2025.

Reference and administrative information set out on pages 1 and 2 form 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.

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Trustees’ annual report for the year ended 31 March 2025

Summary

Throughout 2024-25 we have successfully experimented and expanded as we strengthened our environmental, charitable and social impact.

We rounded off the year with the successful completion of the first phase of the Community & Creative Campus, the opening of 19 studios for artists in the refurbished, 19th century sheds to the rear of the Conservatory and adjacent to the Kitchen Garden. This first phase of our major capital development project was delivered on time and budget, putting us in a strong position to raise the remaining funds needed to deliver the next phase; new Learning Hub and volunteer facilities to enable the expansion of our schools, community and volunteer programme.

We are committed to providing high standards of environmental care and conservation for the Grade 1 gardens keeping climate change at the forefront of our plan. We planted over 230 trees, installed wildlife habitats in the wilderness areas and continued to use our Kitchen Garden as a showcase for ‘no-dig’ gardening along organic principles. Over 22,000 people visited the Kitchen Garden to see our work in action. Letting the Light In our woodland diversity project, thanks to funding by Mayor of London Rewilding Fund, has brought together our entire community – volunteers, schools, community groups and corporate partners. We will continue this work as we plant more than 350 trees and shrubs in 2025.

Liaising with, London Borough of Hounslow, the owners of the conservatory, and working with conservation architects, regular inspections and maintenance were carried out throughout the year. The camellias – in the conservatory and around the shrubbery in the gardens - continue to thrive, on the back of the introduction of a more sustainable horticultural care plan in 2023.

Our 2024 Creative Programme, ‘What is food?’, supported by Arts Council England, explored this question with our community partners, school groups and visitors through workshops with artists Ayesha Weeks and Jaixia Blue, gardening projects and a Kitchen Garden trail for families. A key focus of the project was the creation of the ‘Long Table’, a 6m table made from the by-products of sustainable tree management in the gardens and now permanently sited in the Kitchen Garden. ‘What is Food?’ culminated in a celebration event, centred around the Long Table welcoming 445 visitors and community partners.

Our Schools Programme continues to go from strength to strength and following the success of the pilot workshops in 2023 we expanded in 2024 working with over 775 children from local schools. We successfully delivered Year 3 of our Black Chiswick through History youth project which continues to engage young people between the ages of 11 and 18.

We set out a clear audience development plan to; attract visitors from beyond the immediate W4 area and better reflect the diversity of Hounslow borough and engage our families with our social and charitable impact. We have seen an 8% increase in global majority audiences and a slight increase in family visits (from 27% in 2023 to 29% in 2024) with a much stronger engagement by families in joining events like garden volunteering and our Community Celebration in the kitchen garden. We recognise that there is much more work to do and will continue to focus in this area in 2025.

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Trustees’ annual report for the year ended 31 March 2025

Maintaining focus on our long-term financial security remains critical. Our commercial income remained on target for the year in spite of continuing challenges in the events and film sectors. We are very grateful to the many trusts and foundations that support our day-to-day work, and for the key grants that have

underpinned the development of the Community & Creative Campus. In 2024/25 we secured £2.1 million in capital grants, taking the total raised to £4.5 million, against the target of £6.4 million for the whole project. We continue to encourage our daily visitors to become engaged supporters and individual giving increased by nearly 60% over the course of the year.

We are very proud of what we have achieved, given the challenging times we are working in, we are wholly focused on continuing to centre our communities' needs in everything we do. To ensure we are for everyone, every day.

Highlights of the year

We provided free access to the gardens 365 days each year from 7am until dusk and we welcomed between 825,000 to 1 million visits, mainly from the local area

~~2.~~ We continue to garden for wildlife and all our gardening decisions are informed by biodiversity value and climate predictions. In 2024 we surpassed our tree planting target, planting 230 trees, creating new groves in our wilderness areas, as part of the Letting the Light in project, to support biodiversity. Our Gardening Together volunteer events and WildWatch all-access online surveying, engaged people with the wildlife we are supporting.

We donated half of the produce grown in our Kitchen Garden, working through Hounslow Food network and 5 donation partners, we donated 1,275 Kg of produce, equivalent to over 3,000 meals
After a tender process, in March we appointed Groundwork London as our commercial/charity partner to deliver our onsite gardens contract. Partnering with a charity committed to increasing green skills (rather than the previous commercial contractors in role), enables us to have at least two trainees on site annually, welcome work placements throughout the year and contribute to Groundwork’s programme of preparing adults and your people for work across London.
We engaged over 4,000 participants in our community programme from over 100 underrepresented and underserved community groups and local schools; delivered ‘facilitated’ workshops for 148 primary school children and ‘self-led’ visits for over 631 primary school children in the Kitchen Garden
We commissioned local artists Ayesha Weekes and Jaixia Blue to explore our creative theme, "What is food?". One of the outputs was a magnificent 6-metre communal table and benches, sustainably made with yew, holly and sycamore logs from the gardens as well as an engaging Kitchen Garden trail for families and children. On a bright and sunny 1st September, we hosted a successful celebration event, welcoming 445 visitors to enjoy workshops and other activities in the garden
We worked with more than 150 active volunteers who contributed 11,309 hours, and 5 corporate partners who booked 7 volunteering sessions.
We hosted 4 festivals, a range of smaller family events including children’s theatre, 31 weddings, 4 corporate events and 4 private events with over 30,000 combined guests.
Our café served 318,968 people.

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Trustees’ annual report for the year ended 31 March 2025

22,465 visitors came to the Kitchen Garden, 300% more than 2023-24.
Support from regular visitors, increasing by nearly 60%, on the back of increasing numbers of Members and Patrons and fundraising campaigns for the playground and the Tree Fund.
We secured £2.1 million of the £6.4m target for the Community & Creative Campus, taking the total raised to £4.5 million.
Work began on Phase 1, the refurbishment of the Victorian sheds to the rear of the conservatory and the adjacent to the Kitchen Garden to create 19 artists’ studios, opened with a fanfare on 22 May. This is the first stage in our work to secure the conservatory’s long-term future and sustainability.

1. Our mission and vision

Chiswick House & Gardens Trust cares for a thriving 350-year-old haven in West London, open for everyone every day. Teeming with nature, stories, and activities, these spectacular Grade I listed gardens are completely free to roam, thanks to our generous community of supporters.

As a charity we are 75 per cent visitor and supporter funded, so we wouldn’t exist without the people that love us. We aim to keep Chiswick House & Gardens flourishing today and for the next 350 years, so that everyone and their dog can stroll, play, learn, relax, and meet here.

Internationally recognised and locally loved, the gardens are home to lots of wildlife and over 1,600 trees that clean and cool the air. At the centre of the 65-acre grounds we run an open, working Kitchen Garden where everyone is invited to wander, taste what’s growing, and enjoy activities run with and for the local community.

As the first ever English landscape garden, nurtured alongside the 18th century Palladian villa, Chiswick House & Gardens has a special place in garden design and architectural history. Memories have been made here since the mid-1700s, rooted deeply amongst the trees, architecture, lake, and historic walls. We believe that heritage sites have more than one role to play and that offering a historic experience is only part of our purpose and have recognised the enormous potential of the house, gardens, and kitchen garden to respond to some of the challenges faced by our local community. Hounslow residents continue to experience isolation, unemployment, poverty, disconnection from nature, and inadequate community resources:

Over 50% live in the bottom three centiles of ‘Living Environment’[1] ;
14.4% of children live in Absolute Low-Income households and 16.8% of children live in Relative Low-Income households[2] ;
56% of adults are physically active (lower than the national average of 67%) with obesity levels rising[3] ;
There is 4% unemployment;[4] and

1 All statistics from the Hounslow Data Hub at https://stats.hounslow.gov.uk

2 Ibid

3 Ibid

4 Ibid

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Trustees’ annual report for the year ended 31 March 2025

18% of Hounslow residents use outdoor space for exercise/health reasons[5]

In 2023, in response to this evidence and need, we set out our refreshed mission:

to conserve our historic, built, horticultural and natural heritage for visitors;
to sustain and improve biodiversity; and
to support our local community’s health and well-being.

We also refreshed our vision: to be for everyone, every day. And we continue to embed this at the heart of our strategy.

1.1 Objectives and performance 2024-25

We continue to refine our plans and broaden our audience in the context of significant pressures. Our focus is both operational and strategic, maximising our performance for the financial year whilst genuinely seeking to change, grow and move forward to secure our future sustainability. In view of the significant challenges we faced in managing work on the capital development project whilst also maintaining business as usual, with a small team of staff, we set four strategic objectives for 2024-25:

Expand our charitable and social impact
Continue our capital development programme
Continue managing costs
Secure 2024 income

We report on these below.

1.2 Expanding our charitable and social impact

We care for 65 acres of formal and informal gardens and woodland as well as our intensely productive 2- acre Kitchen Garden. The gardens provide a vital and valued resource to the local community. The gardens have iconic, historic status among a small audience with undoubted influence and knowledge. We aim to use this to showcase our efforts to mitigate and adapt to climate change and our commitment to enhancing biodiversity, with transparent pragmatism about the hard choices we must make with limited funding. We can only do this with the commitment and support of 23 FTE staff, a seasonal team of 9 Visitor Experience Assistants and around 150 volunteers. In the past year we:

Donated 50% of the produce grown in our Kitchen Garden to local food banks and charities – 1,275 Kg which is equivalent to over 3,000 meals;
Engaged 523 volunteers (including school and family groups) through Letting the Light in, a project funded by the Mayor of London’s Rewild London Fund, that is restoring the biodiversity of our historic woodlands;
Continued to expand our range of volunteering opportunities to embrace evenings, weekends, and all age groups;

5 Ibid

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Trustees’ annual report for the year ended 31 March 2025

Continue to garden for nature through adopting sustainable and environmental practices e.g. no dig gardening;
Planted over 230 trees.

Our ‘Growing Together at Chiswick House’ community and learning programme has continued to flourish. Thanks to renewed funding from The Linbury Trust covering the period 2024-2027, we were able to maintain and expand our Community, Learning and Volunteering Programme, currently reaching over 4,000 participants each year.

In 2024/25 we exceeded our targets for engaging schools and community groups and despite the closure of our Learning Centre for three months from January to March due to capital project. We have been particularly proud of the rapid growth in our schools' programme, supported by the National Lottery Heritage Fund, which has progressed from pilot projects to programme of self-led visits for 631 children and facilitated workshops for 148 children in 2024. We continue to expand this work in 2025, reaching more local schools and we have recruited a team of freelance expert facilitators to deliver tailored content in our Kitchen Garden.

We delivered a third year of our Black Chiswick through History youth project that has continued to engage those who are underrepresented and face barriers to engagement with the House, our history and collections. We highlighted stories celebrating the lives of three men of African heritage who lived at Chiswick House and contributed to its history. The programme culminated with a celebration event on 1 September involving both Chiswick House and the Kitchen Garden and attracting a diverse audience of 450 people, including community groups and families.

Prior to our visit, our members thought that Chiswick House had no bearing on their lives and it was for other people. Black Chiswick through History has totally changed that view. For us, it was even more meaningful as Joseph Casar, James Cumberlidge and Jean Baptiste Gilbert were originally from the Guinea Coast which is present day West Africa where West London Ghanaian Association members are from. That has fostered strong feelings of kinship and pride. Pride that, despite obstacles, they were accomplished and able to rise to prominence and it has formed an incredible link with the local area, because now we know that we truly have connections and roots in this society.

Group Lead, The West London Ghanaian Association

1.3 Continuing our Capital Development Programme

Our planning application was approved in June 2024, enabling us to commence RIBA 4 and to tender for the project team for the whole development which now includes Bristows as Project Manager and Cost Consultants, Matthew Lloyd Architects, Ritchie + Daffin environmental and building services engineers and Momentum Structural Engineers.

In January 2025, Waiz Building Services commenced construction of the new artists’ studios, completing the work on time and budget, enabling us to launch them on 22 May 2025 with Justine Simons, Deputy Mayor of

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Trustees’ annual report for the year ended 31 March 2025

London cutting the ribbon. We are working with The Artists Studio Company, also a charity, who will operate the artist studios. The artists will be moving in from Summer 2025.

Later in 2025, we will begin the next phase of the project to develop the new Learning Hub and Kitchen Garden Hub to provide the facilities to enable the expansion of our community, learning and volunteer programme.

1.4 Managing cost

Our staff team has increased by 14% to 25 FTE equivalent and our cohort of seasonal staff remains at 9. We transferred gas and electricity charges for Chiswick House to English Heritage and switched other estates utilities to tariffs procured by the London Borough of Hounslow in order to benefit from their economies of scale.

1.5 Securing income

Commercial income was bolstered by 4 large partner events: Giffords Circus, Pub in the Park, Happy Place and Ben & Jerrys Sundae’s in the Park. We also experimented with a range of smaller events and expanded our family offer including: Café Lates in July & August partnering with Artelium English Wines; National Prosecco Weekend; three outdoor family theatre productions; and a Halloween Spooktacular Family Rave. All events were very successful, welcoming over 30,000 visitors in total. We worked hard with all partners to reduce their impact on the gardens and on the environment, to avoid single-use plastics, recycle as standard and use on-site power and water as far as possible.

House visitor numbers remained steady throughout the season. In contrast our new route and free entry to the Kitchen Garden, opening on Easter weekend, proved to be an overwhelming success and by the year’s end we had welcomed over 22,000 people to the Kitchen Garden, an increase of almost 300% on the previous year. Increased retail sales covered the loss of ticket income, with Kitchen Garden produce exceeding its income target, as well as meeting our commitment to donating to local food community kitchens. This was also thanks to greater distribution and use of Kitchen Garden flowers to local businesses and use by our wedding couples.

Filming income remained steady and though the actors' strikes had an impact on large scale shoots, we saw an increased number of mid-sized shoots.

The Café recorded almost 133,000 transactions, a 10% increase on the previous year (119,676) and experienced a higher number of family visitors, following improvement of the kids’ café offer, refurbishment of our playground and our new dog playground which opened in April 2024.

Fundraising efforts continued and Killik & Co became our first corporate sponsor in April 2024, followed by Dogtown and Colicci in May, supporting our new dog playground We also received a donation of almost £72k from The Chiswick House Friends who wound up their operations and transferred the Chiswick House Dog Show to run under CHGT’s charitable umbrella.

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Trustees’ annual report for the year ended 31 March 2025

We continue to focus on encouraging our regular local visitors to become engaged supporters and by the end of the financial year we were close to achieving the 2024/25 target of 800 Members and 40 patrons. We also took part in the Big Give Christmas Challenge for the first time and ran a campaign for the refurbishment of the playground earlier in the year. As a result, our support from regular visitors for our core activities by nearly 60% compared to 2023/24.

1.6 Conclusion

As we move into 2025 and the Community and Creative Campus takes shape we remain more confident than ever that our focus on these four strategic objectives remains true. Our experience in 2024/25 reinforced our belief that it is our charitable, environmental and social impact that differentiates us and offers our visitors something truly unique. Together with a rigorous focus on restraining cost and seeking sustainable income, we intend to continue delivering to our visitors the wellbeing, sense of community and support for everyone, every day. None of this would be possible without all the support of our funders, partners, sponsors and volunteers.

First of all I would like to congratulate you and your team at Chiswick House and Gardens Trust for the delivery of a fantastic programme of events and projects in 2024….Chiswick House and Gardens Trust have become a lifeline for many - especially people from disadvantaged backgrounds. Trinjan most certainly benefited hugely by participating in projects offered to us - and for that, we'd like to extend a big thank you.

Trinjan Community Group

1.7 With thanks to

Our thanks go to our core supporters London Borough of Hounslow, who provide an annual grant of £383,837 plus inflationary uplift, alongside significant contributions to our capital campaign, and to English Heritage, whose annual grant remains steady at £65,000. These two grants cover just 23% of our total operating costs and we are enormously grateful to the wide range of supporters whose contributions throughout the year make our work possible. In 2024-25:

We received grants towards our core We received key grants & pledges work from: towards the Community & Creative The Linbury Trust Campus from:- National Lottery Heritage Fund London Borough of Hounslow Wates Foundation National Lottery Heritage Fund Mayor of London Garfield Weston Foundation Arts Council England Kusuma Trust English Heritage Wolfson Foundation Lennox Hannay Charitable Trust Foyle Foundation Heathrow Community Trust Clore Duffield Foundation Finnis Scott Foundation Mayor of London Wilf Slack Trust Swire Charitable Trust Big Give Bernard Sunley Foundation Chapman Charitable Trust Sandra Charitable Trust David Cock Foundation

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Trustees’ annual report for the year ended 31 March 2025

We are very grateful to the following organisations for their generous support this year:-

Butternut Box John D Wood Chiswick Book Festival Killik & Co Chiswick House Friends Goldman Sachs Gives Colicci Sam's Restaurants Dogtown Sanderson Design Group Elderpress Café Wolfe Vets Goldman Sachs Gives

And to the numerous individuals who made donations throughout the year and who gave so generously to our two fundraising campaigns for the Playground and the Tree Fund. We are particularly grateful for the generosity of all our Members, whose ongoing support is key to our work, and to our Patrons:-

Stephen Allcock Gavin & Biddy Graham Jo Pisani & John Brownridge Nick Bampton Lynne Guyton Kay Porter Stephen Bradley Will Hobhouse Mark & Sarah Radcliffe Anthony & Consuelo Brooke Terence & Di Kyle Richard & Jacky Sales Iraina Cadbury Stuart McCracken Jan Shawe & Allan Cheesman Stephanie & Phillipe Camu Alexis Meissner Herbert & Patricia Short Heather Clark Charrington Faye Melly John & Jane Theakston Claudia Coulson Richard Millar Marek Wakar Peter Elizabeth Crawshaw James & Lauren Montupet Dick & Sophie Warner Roger & Jenny de Montfort Tim Munden John Watton Louise Falshaw George & Jane Nissen Jimmy Weir Andrew Fane Michael Oppenheimer Peter & Joanna Wolton Anthony Fuller Ian & Aly Peacock

We were delighted to have the support of the following companies through our corporate volunteering programme in 2024/25:

AM Docs Google UK Ltd QVC Sanderson Design Group Story Events

And huge thanks to our hardworking, dedicated and committed team of staff and volunteers.

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Trustees’ annual report for the year ended 31 March 2025

2. Financial review

2.1 Summary of performance

Income for the year was £3,197,802 (2024 - £1,960,816), an increase of £1,236,986 (63%) driven primarily by restricted funds for the capital project. Total expenditure was £2,076,651 (2024 - £1,952,406), an increase of 6%. The result for the year was a surplus for the year of £1,121,151 compared to 2024 surplus of £8,410. This significant surplus is primarily through the positive contribution from our capital fundraising campaign. A transfer of £803,235 from Restricted funds being items related to fixed assets, was transferred to the designated fixed asset reserve.

In the year, grants were received from multiple charitable foundations to support our community outreach and learning programmes, creative programme and garden staff. With thanks to all our funders who are listed in section 1.7.

Staff costs increased by 13% to £969,312 from the previous year. The main changes were:

A full year in increased headcount in the Garden and Administrative departments to manage the increased activities at the Trust and to support the capital project.
Full time equivalent staff increased from 22 to 25.
Annual pay rises impacted by inflationary pressures.

At the year-end, net assets representing funds held were £783,447 (2024 - £462,991), an increase of £320,456 (69%) from the position as of 31 March 2024. This is due to the cash at bank increase by £440,042 holding capital project funds (2024: £586,648).

In our third year of the Community and Creative Campus capital project, £778,038 of design development and planning costs were capitalised as assets under construction adding to the sum capitalised last year to total £991,406.

Income is generated in the trading subsidiary, Chiswick House Trading Company Limited, which includes private venue hire, partner events in the gardens, filming, retail, and the café franchise.

2.2 Reserves

Policy and Going Concern

Total consolidated reserves as of 31 March 2025 were £1,873,154 (31 March 2024 - £752,003) and are split between restricted, designated and unrestricted funds in note 17a to the accounts.

The General Reserves, which are free reserves, decreased by £1,746 to £207,850.

To improve the presentation and understanding of our financial position, the items in the restricted funds that relate to fixed assets have been transferred to the unrestricted designated fund for fixed assets. This means that funds taken forward are only those allocated to restricted project expenditure.

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Trustees’ annual report for the year ended 31 March 2025

Unrestricted funds increased to £1,487,557 (31 March 2024 - £688,608). Within these funds are designated funds for fixed assets representing reserves that are not available for operational expenditure £1,089,707 (31 March 2024 - £289,012), the main reason for the increase is £778,038 of costs capitalised relating to the Community & Creative Campus capital project. In addition, there are designated funds for the Trust to invest in the Community & Creative Campus capital project of £190,000 (31 March 2024 - £190,000).

The Trustees review our reserves policy annually to ensure it is realistic and appropriate. The purpose of the general funds in reserves is to enable the Trust to address any major risks attached to future income and expenditure, as well as the need to hold funds for strategic and liquidity purposes. In the current year, the minimum level is estimated to be £109,931 (31 March 2024 - £144,671). As at the 31 March, the General Reserve was £207,850.

The reserves policy is to retain at least three months of expenditure based on the forecast of three months of essential expenditure. Income, which Trustees consider to be secure from principal funders (including London Borough of Hounslow and English Heritage Trust) as well as commercial income from the café, rental properties and secured bookings is discounted.

The reserves policy is reviewed annually.

As a result of the above, the Trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, we continue to adopt the going concern basis in preparing the financial statements.

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Trustees’ annual report for the year ended 31 March 2025

3. Principal risks and uncertainties

The Trustees have a duty to identify and review CHGT’s risks and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The risk register is reviewed regularly by the Senior Management Team (SMT) and submitted to the Finance, Audit and Risk Committee quarterly and Trustees annually.

The principal risks remain the same as 2024/5 currently faced are; the ongoing impact of cost-of-living and global events such as climate change on operational costs, commercial income and consumer confidence, ongoing management of the large-scale Community & Creative Campus capital project, maintenance responsibilities and our people. We have also seen an increase risk from the threat of cyber fraud and is area we have focused on addressing in 2025/6.

3.1 Cost of living, global events & Climate Change

There continues to be significant economic uncertainty due to macro factors which have a direct impact on costs and consumer demand.

To address this, we monitor our projections based on assumptions that we currently consider reasonable, but we are living through volatile times so our forecasting may not be as reliable as we would wish. We have regular meetings with our key contract holders, sector colleagues and experts and actively monitor any adverse impacts of the economic situation and impact from climate change (see 3.3 Maintenance) and act if required.

We are confident that the financial support from the London Borough of Hounslow and English Heritage is not at risk in 2025/26, and this provides a secure source which covers 23% of our operating costs.

3.2 Community & Creative Campus Capital Project

The capital project is significant for CHGT. We are managing by ensuring we have the right experts working on the project, clear milestones, tight budget, and risk management in place, and that we have invested in fundraising to ensure we are successful.

Bristows was successful in winning the tender to provide project management and cost control services for the project and our own Project Accountant and Head of Finance remain in close contact with them to ensure that costs are strictly controlled and value engineering opportunities are maximised. Our trustee-led Capital Project Board oversees the project in collaboration with our Finance, Audit and Risk Committee.

We have successfully completed the first phase of the capital project with the refurbishment of the grade 1 listed historic gardeners buildings into artist studios. This phase of the project was completed on time and on budge.

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Trustees’ annual report for the year ended 31 March 2025

Our next priority is to secure the funding so that we can initiate the next phase in Autumn 2025 for the Learning Hub and Kitchen Garden Hub which will enable us to meet the demand for our expanding schools, community and volunteer programme.

3.3 Maintenance

The increasing frequency of severe weather events and shifting weather patterns have negatively affected both the short-term maintenance and long-term care of our trees, gardens, and historic buildings. In response, we have developed a 3-year Climate Action Plan and Policy, drawing from our experiences, ongoing tree and building condition surveys, and expert advice provided by funders of our Community & Creative Campus capital project. This plan will outline the steps needed to fulfill our commitment to achieving net carbon zero emissions by 2030 of our Scope 1&2 emissions, as well as our duties as managers of a Site of Importance for Nature Conservation (SINC) and our role in promoting environmental and biodiversity stewardship.

Our tree collection is made up of over 1600 mature, recorded trees of habitat and carbon capture value that offer immense pleasure to visitors but that increasingly – with climate and disease threat – represent a risk management challenge. We have responded to this complex situation by continuing to invest in annual, comprehensive tree surveying undertaken by The Environment Partnership: our tree maintenance programme guided by these surveys requires increased budget and resources. This year we have had to expand the tree protection areas particularly for our most historic trees. We are confident our prioritisation of the care of our tree collection is the right action to take given its immense value from a habitat, carbon capture, urban cooling, and pollution prevention perspective, while acknowledging our trees remain a unique historic and aesthetic asset.

The Conservatory was closed in 2024 due to the health and safety risk from the deterioration of the fabric of the buildings. In recognition of its importance, conservation of the Conservatory will be the second phase in the Trust’s multi-phase 10-year vision. We are therefore working in partnership with the London Borough of Hounslow, who own the Conservatory, to progress planning for its future, with a view to securing this iconic building.

We work with our key stakeholders London Borough of Hounslow and English Heritage to ensure we have a clear view on the medium to long term maintenance responsibilities on our built assets. Regular meetings are in place, informed by the recent condition surveys, to prioritise works against funds available.

3.4 People

CHGT manages a busy programme of community and school groups activities as well as engaging with a large team of volunteers and thus an increased focus on safeguarding is required. To manage risk in this area CHGT have implemented a revised safeguarding policy and appointed a Trustee - Kauser Fadal, with specific safeguarding expertise and responsibility. Staff training has been undertaken. [NB: if we want to follow Lycia’s comment of linking to our policy, we’ll have to put it on the website]

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Trustees’ annual report for the year ended 31 March 2025

4 Staff and volunteers

4.1 Human Resources policies

We are committed to following good employer practice in relation to our staff. Our employment policies and practices are developed to enable us to deliver against our objectives and comply with relevant employment legislation and public sector standards, as well as valuing and recognising the needs and contributions made by our employees.

We give immense importance to supporting our staff, both to help them develop and to achieve improvement in their performance. We aim to treat all our employees in a fair and consistent manner, promoting good working relationships and encouraging high standards of conduct and work performance. We aim to provide a healthy workplace where risks are effectively managed, together with fair rewards and conditions of employment. The average number of days of sickness absence per employee during the year was 2 days. This compares favourably with 4.4 days nationally in 2024.

4.2 Volunteering, work experience and apprenticeships

Our volunteers continue to provide an invaluable contribution to our operations – overall, 150 active volunteers supported our activities during the financial year 2024-25, donating 11,309 hours. We continue to broaden and diversify the range of volunteering opportunities we offer and have also created specialist volunteer roles from beekeepers to archivists. Our corporate and family volunteering opportunities continue to grow in popularity.

4.3 Whistleblowing policy

We are committed to conducting our business in a responsible way and to ensuring that the public interest is safeguarded. Arrangements for whistleblowing are set out in the staff handbook, which is available to all staff. We encourage our employees to raise legitimate concerns in a responsible way where they believe that there has been some form of malpractice, and we recognise that employees are protected by law from detrimental treatment arising from their making such a disclosure. Concerns should normally be raised in the first instance with line management but if not appropriate or satisfactorily dealt with may be made to the Director, the Chair of the Finance, Audit and Risk Committee or to the Chair of the Board of Trustees. No such disclosures were made during the year.

4.5 Remuneration policy for key management personnel

Our approach to 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 and subject to affordability. We meet London Living Wage for our direct staff costs. A non-pensionable bonus may be paid for exceptional performance in the year. The Remuneration Committee meets annually to review and agree pay proposal recommendations to the Board.

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& GARDENS TRUST

Trustees’ annual report for the year ended 31 March 2025

4.6 Equity, Diversity, Inclusion and Belonging

Our vision is to nurture and develop Chiswick House & Gardens as a beacon of inclusivity and a vital community asset, where diverse histories, cultures, and identities are celebrated. We believe that heritage sites offer more than a historic experience; they can respond to societal challenges such as isolation, loneliness, unemployment, poverty, and a disconnect from nature.

Our aim is for everyone, regardless of background, to feel a sense of belonging and engagement. Chiswick House and Gardens, being a valuable community asset, offer an oasis of green space and opportunities for communities to access quiet spaces for volunteering, learning, cookery, wellness, artistic, and creative activities. We envision a place for everyone every day, where our diverse community members can find solace, connection, and enrichment.

We have established an Equity, Diversity, Inclusion and Belonging plan for 2024-27 and staff have undertaken training to understand both the legal requirements in this area as well as to understand the personal impact they can each have in making this place more welcoming to everyone.

The diversity of our workforce and volunteer cohort is central to our values and the delivery of our EDIB objectives. We believe that maintaining a diverse staff and volunteer force plays an important part in ensuring the diversity of our audiences and we aim to ensure that the diversity of our workforce reflects that of our local Borough (Hounslow). In 2024, we increased the representation of global majority ethnicities amongst our staff to 21%, up from 11% in 2023 and amongst our Trustees to 44% from 25%.

4.7 Fundraising regulation

We use our own staff to provide fundraising activities with individual donors as well as Trusts and Foundations. We have complied with all fundraising regulations and have signed up to the Fundraisers Regulation Code. During the financial year and have received no complaints regarding our fundraising activities.

5.0 Structure, governance, and management

5.1 Governing document

The Trust was formed following a major restoration of the historic gardens and improvement to visitor facilities made possible by a substantial grant from the National Lottery Heritage Fund and other fundraised donations.

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, members are required to contribute an amount not exceeding £10.

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& GARDENS TRUST

Trustees’ annual report for the year ended 31 March 2025

All trustees give their time voluntarily and receive no benefits from the charity. Expenses reclaimed are disclosed in note 9 to the accounts. Trustees of the Charity are also directors of the Company for the purposes of charity law.

Chiswick House Trading Company Ltd was incorporated on 9 February 2010. Under a Deed of Covenant, executed between the trading company and Chiswick House and Gardens Trust, the company retains sufficient working capital to transact its business, with any distributable profits paid by Gift Aid to the Trust.

Appointment of trustees

In accordance with the articles of association the Chair of the board is appointed by English Heritage and London Borough of Hounslow jointly. They may each appoint a further two trustees. The Board may appoint additional independent trustees in accordance with the articles. The total number of trustees, including the Chair, shall not exceed fourteen. All appointments of trustees, including the Chair, shall be for a term of four years which may be renewed for a further four years.

In addition, three Co-opted Board Members are serving four-year terms: Elizabeth Smith; Jimmy Weir (also Chair of the Development Committee); and Simon Toomer.

5.2 Corporate governance

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 (FAR) 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. A Remuneration Committee meets annually as part of the budget setting process. The Development Committee meets twice a year and the newly reconstituted Capital Project Board (CPB) meets quarterly and at other times as required. The Nominations Committee is formed when there is a requirement for Trustee of Director recruitment. All committees have trustee representation.

The Board has delegated day-to-day management to Xanthe Arvanitakis, Director, and the other key management personnel listed on page 2.

5.3 Trustee induction and training

New trustees meet the Chair, Vice Chair and Director before their first board meeting. In addition, they are given a welcome pack of information about the organisation, a copy of the Charity Commissions' guidance for becoming a new trustee (Charity Commission document ref: CC3) and meet with the Senior Management Team and the Chair of the Finance, Audit and Risk Committee.

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& GARDENS TRUST

Trustees’ annual report for the year ended 31 March 2025

5.4 Related parties and relationships with other organisations

English Heritage Trust and the London Borough of Hounslow are both related parties. In addition to their role in appointing trustees, see above, Chiswick House was previously operated by English Heritage Trust, and the Gardens 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, in 2010. On 6 April 2017, Chiswick House and Gardens Trust took over the operational management of Chiswick House from English Heritage under a Local Management Agreement which was renewed for 10 years in June 2022.

5.5 Statement of responsibilities of Trustees

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 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, Trustees are required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
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
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

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.

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& GARDENS TRUST

Trustees’ annual report for the year ended 31 March 2025

As far as Trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware
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

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. Trustees are members of the charity, but this entitles them only to voting rights. Trustees have no beneficial interest in the charity.

5.6 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.

Trustees’ annual report has been approved by Trustees on 19 September 2025 and signed on their behalf by

Lycia Lobo Chair

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& GARDENS TRUST

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 2025 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:

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 2025 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
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.

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

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& GARDENS TRUST

Independent auditor’s report

To the members of The Chiswick House and Gardens Trust

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:

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
The trustees’ annual 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:

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
The parent charitable company financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
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.

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

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& GARDENS TRUST

Independent auditor’s report

To the members of The Chiswick House and Gardens Trust

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, the Finance & Audit Committee and the Board of Trustees, 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;
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 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 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.

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Independent auditor’s report

To the members of The Chiswick House and Gardens Trust

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. 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)

Date 09 October 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 200

Page | 24

The Chiswick House and Gardens Trust

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Unrestricted Note £ Income from: 2 110,942 3 561,717 4 820,386 23,481 61,787 63,850 1,642,163 5 730,606 5 604,466 5 227,511 5 83,866 1,646,449 6 (4,286) 803,234 798,949 Reconciliation of funds: 688,608 1,487,557 Total funds brought forward Total funds carried forward Transfers between funds Net movement in funds Raising funds Net (expenditure)/ income for the year Total expenditure Charitable activities Estate management House management Community programme and Cedar Yards Investments Other Total income Expenditure on: Donations, grants and legacies Charitable activities: Other trading activities Property rents Estate Management	Restricted £ 1,555,639 - - - - -	2025 Total £ 1,666,581 561,717 820,386 23,481 61,787 63,850	Unrestricted £ 75,255 540,585 892,042 12,260 60,125 21,817	Restricted £ 321,077 37,655 - - - -	2024 Total £ 396,332 578,240 892,042 12,260 60,125 21,817
1,642,163	1,555,639	3,197,802	1,602,084	358,732	1,960,816
730,606 604,466 227,511 83,866	63,088 166,839 - 200,275	793,694 771,305 227,511 284,141	705,220 582,560 280,943 102,435	3,543 48,282 - 229,423	708,763 630,842 280,943 331,858
1,646,449	430,202	2,076,651	1,671,158	281,248	1,952,406
(4,286) 803,234	1,125,437 (803,234)	1,121,151 -	(69,074) 134,291	77,484 (134,291) \|8,410 -
798,949 688,608	322,202 63,395	1,121,151 752,003	65,217 623,391	(56,807) 120,202	8,410 743,593
1,487,557	385,597	1,873,154	688,608	63,395	752,003

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.

The Chiswick House and Gardens Trust

Company no. 05171882

Balance sheets

As at 31 March 2025

2025 2024 £ £ 1,089,707 289,012 - - The group	2025 2024 £ £ 1,089,707 289,012 - - The group	2025 2024 £ £ 1,089,707 289,012 1,000 1,000 The charity	2025 2024 £ £ 1,089,707 289,012 1,000 1,000 The charity
1,089,707 17,277 365,730 1,026,690	289,012 18,585 359,880 586,648	1,090,707 - 242,791 947,254	290,012 - 109,114 543,396
1,409,697 (626,250)	965,113 (502,122)	1,190,045 (728,412)	652,510 (581,298)
783,447	462,991	461,633	71,212
1,873,154	752,003	1,552,340	361,224
385,597 1,089,707 190,000 207,850	63,395 289,012 190,000 209,596	385,597 1,089,707 190,000 (112,964)	63,394 289,012 190,000 (181,182)
1,487,557	688,608	1,166,743	297,830
1,873,154	752,003	1,552,340	361,224

Approved by the trustees on 19 September and signed on their behalf by

Lycia Lobo Acting Chair

The Chiswick House and Gardens Trust

Consolidated statement of cash flows

For the year ended 31 March 2025

Note £ £ Net income/expenditure for the reporting period 1,121,151 (as per the statement of financial activities) Depreciation charges 30,982 Interest receivable (23,481) (Increase) / decrease in stocks 1,307 (Decrease)/ Increase in debtors (5,850) Increase in creditors 124,128 Net cash (used in)/ provided by operating activities 1,248,237 23,481 2,374 (834,050) (808,195) 440,042 586,648 1,026,690 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year 2025 Cash flows from operating activities Net cash (used in)/ provided by investing activities Cash flows from investing activities: Interest receivable Purchase of fixed assets Loss on disposal of fixed assets	Note £ £ Net income/expenditure for the reporting period 1,121,151 (as per the statement of financial activities) Depreciation charges 30,982 Interest receivable (23,481) (Increase) / decrease in stocks 1,307 (Decrease)/ Increase in debtors (5,850) Increase in creditors 124,128 Net cash (used in)/ provided by operating activities 1,248,237 23,481 2,374 (834,050) (808,195) 440,042 586,648 1,026,690 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year 2025 Cash flows from operating activities Net cash (used in)/ provided by investing activities Cash flows from investing activities: Interest receivable Purchase of fixed assets Loss on disposal of fixed assets	£ £ 8,410 41,307 (12,260) (2,151) (170,960) 122,849 (12,805) 12,260 - (158,982) (146,722) (159,527) 746,176 586,648 2024	£ £ 8,410 41,307 (12,260) (2,151) (170,960) 122,849 (12,805) 12,260 - (158,982) (146,722) (159,527) 746,176 586,648 2024
23,481 2,374 (834,050)		12,260 - (158,982)

	440,042 586,648		(159,527) 746,176
	1,026,690		586,648

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

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. We regularly update and review our forecasts and monitor reserves in line with our reserves policy. We are mitigating our risk by continuing to control costs, working to diversify and increase our income into more stable long-term income. In addition, CHGT has applied for and continues to apply for a series of grants to improve our financial position including funds from the Arts Council and the LBH. We continue to receive sufficient financial help from EHT and LBH to complete the maintenance to the House and the Gardens.

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.

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.

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)
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.

j) 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.

		2025	2024
	Estate management	41%	36%
	House management	18%	24%
	Community Programme and Cedar Yards	12%	10%
	Raising funds for charitable activities and trading	28%	29%
	Governance costs	1%	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	41%	36%
	House management	18%	24%
	Community Programme and Cedar Yards	12%	10%
	Raising funds for charitable activities and trading	29%	30%

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.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. 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:

Assets under construction
Building improvements
IT and equipment

Depreciation to start when completed 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.

m) 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.

n) 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.

o) 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.

p) 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.

q) 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.

2 Income from donations, grants and legacies

Trusts, grants and foundations Community programme trust and grants Commemorative benches Garden grant Chiswick House Friends Other individual donations	Unrestricted £ - - - - 71,991 38,951	£ 789,787 541,820 20,550 66,920 - 136,562 Restricted	2025 Total £ 789,787 541,820 20,550 66,920 71,991 175,513	Unrestricted £ - - - - 34,190 41,065	£ 197,172 67,000 10,765 - - 46,140 Restricted	2024 Total £ 197,172 67,000 10,765 - 34,190 87,205
	110,942	1,555,639	1,666,581	75,255	321,077	396,332

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

3 Income from charitable activities

Other House admissions and memberships Total income from charitable activities Estate management (House and Gardens) London Borough of Hounslow English Heritage Trust Volunteering income	Unrestricted £ 398,000 65,000 72,622 6,270 19,825	£ - - - - - Restricted	2025 Total £ 398,000 65,000 72,622 6,270 19,825	Unrestricted £ 383,837 65,000 83,105 6,050 2,593	£ 33,624 1,500 - - 2,531 Restricted	2024 Total £ 417,461 66,500 83,105 6,050 5,124
	561,717	-	561,717	540,585	37,655	578,240

4 Income from other trading activities

Weddings, private and corporate events Filming & photography Car park Retail sales Commercial and community events Catering commissions	Unrestricted £ 256,780 282,401 153,130 39,991 26,992 61,092	£ - - - - - - Restricted	2025 Total £ 256,780 282,401 153,130 39,991 26,992 61,092	Unrestricted £ 255,405 235,768 144,270 169,957 25,626 61,016	£ - - - - - - Restricted	2024 Total £ 255,405 235,768 144,270 169,957 25,626 61,016
	820,386	-	820,386	892,042	-	892,042

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

5a Analysis of expenditure (current year)

Charitable activities

Trading & cost of raising funds £ 240,790 1,099 44,670 253,295 320 64,294 - - -	Estate Management £ 230,840 3,200 242,574 - 13,131 7,592 - - -	Community Programme and Capital Project £ 77,412 565 18,313 36,918 - 68,817 - - 3,839	Governance costs £ - - - - - 344 - 12,000 -	2025 Total £ 969,312 24,446 315,161 320,297 30,982 352,892 2,144 12,000 49,417	2024 Total £ 861,457 38,854 296,410 319,189 41,307 356,986 2,971 10,000 25,232
604,468 183,694 5,532	497,337 266,223 7,745	205,864 76,064 2,213	12,344 6,465 (18,809)	2,076,651 - -	1,952,406 - -
793,694	771,305	284,141	-	2,076,651	- 1,952,405
708,763	630,842	331,858	-

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

5b Analysis of expenditure (prior year)

Charitable activities

Staff costs Other staff costs Projects and maintenance Events, retail and security Depreciation Office Bank charges Audit and professional fees Other Support costs Governance costs Total expenditure 2024	Trading & cost of raising funds £ 241,094 8,250 34,765 215,175 673 44,012 - - - 543,969 157,507 7,287 708,763	Estate Management £ 193,683 2,654 217,311 - 14,963 - - - - 428,611 193,303 8,928 630,842	House Management £ 81,617 4,328 31,829 11,251 877 16,788 2,481 - - 149,171 125,926 5,846 280,943	Community Programme and Cedar Yards £ 90,776 3,349 8,200 76,216 - 96,650 - - 3,841 279,032 54,187 2,480 335,699	Governance costs £ - - - - - 5,178 - 10,000 4,000 19,178 5,363 (24,541) -	Support costs 2024 Total £ £ 254,287 861,457 20,273 38,854 4,305 296,410 16,547 319,189 24,794 41,307 194,358 356,986 490 2,971 - 10,000 21,232 29,073 536,286 1,956,247 (536,286) - - - 1,956,247

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

6 Net income for the year

This is stated after charging:

This is stated after charging:
	2025	2024
	£	£
Depreciation	30,980	41,307
Auditor's remuneration (excluding VAT):
Audit	12,000	10,000
Other services	1,130	1,075

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes	2025 £ 871,580 68,419 29,313	2024 £ 769,429 65,444 26,584
	969,312	861,457

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

£70,000 - £79, 999

2025	2024
No.	No.
1	1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £353,033 (2024: £329,059).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Trustee expenses were £310 (2024: £Nil).

8 Staff numbers

Trading and raising funds Estate management House operations Community Support	2025 2024 2025 2024 No. No. No. No. 10 6 5 5 7 6 7 6 11 14 3 4 4 2 2 2 7 6 8 5 Full Time Equivalent Average Staff Employed	2025 2024 2025 2024 No. No. No. No. 10 6 5 5 7 6 7 6 11 14 3 4 4 2 2 2 7 6 8 5 Full Time Equivalent Average Staff Employed	2025 2024 2025 2024 No. No. No. No. 10 6 5 5 7 6 7 6 11 14 3 4 4 2 2 2 7 6 8 5 Full Time Equivalent Average Staff Employed
	39	34 25	22

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

9 Related party transactions

Unrestricted donations of £500 were received from related parties (2024: £500) and restricted donations of £2,677 (2024: £nil).

During the year the charity received donations of £71,991 (2024: £34,190) from Chiswick House Friends, a registered charity. Chiswick House Friends is registered charity, and a separate entity to Chiswick House and Gardens Trust.

A management charge of £98,073 (2024: £101,994) 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

The group and charity
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 end of the year At the start of the year Depreciation on disposals At the start of the year Charge for the year Cost Depreciation Net book value	Assets under construction £ 213,368 778,038 -	Buildings improvements £ 249,878 - -	IT and equipment £ 264,843 56,012 (27,571)	Total £ 728,089 834,050 (27,571)
	991,406	249,878	293,284	1,534,568
	- - -	196,571 14,168 -	242,507 16,813 (25,198)	439,078 30,981 (25,198)
	-	210,739	234,122	444,861
	991,406	39,139	59,162	1,089,707
	213,368	53,307	22,336	289,011

All of the above assets are used for charitable purposes.

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

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 Office, 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 Reserves Profit for the financial year Distribution under Gift Aid to parent charity Total retained earnings carried forward Assets Taxation on profit on ordinary activities Liabilities Gross profit Administrative expenses Turnover Cost of sales Retained earnings Total retained earnings brought forward Profit on ordinary activities before taxation Profit on ordinary activities before interest and taxation Interest receivable and similar income The aggregate of the assets, liabilities and reserves was: Profit for the financial year Amounts owed to the parent undertaking are shown in note 15.	2025 £ 820,386 (176,638)	2024 £ 891,462 (391,566)
	643,748 (226,921) (98,073)	499,896 (10,926) (101,994)
	318,754 1,759	386,976 3,551
	320,513 -	390,527 -
	320,513	390,527
	390,776 320,513 (390,474)	384,776 390,527 (384,527)
	320,815	390,776
	526,525 (204,710)	676,117 (284,341)
	321,815	391,776

13 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

	2025	2024
	£	£
Gross income	2,864,204	1,543,615
Result for the year	1,191,112	32,409

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

14 Debtors

Trade debtors Other debtors Prepayments Accrued income	2025 £ 289,138 1,553 41,865 33,174 The	2024 £ 226,486 2,122 47,827 83,445 group	2025 2024 £ £ 198,321 11,239 1,479 748 9,817 13,682 33,174 83,445 The charity	2025 2024 £ £ 198,321 11,239 1,479 748 9,817 13,682 33,174 83,445 The charity
	365,730	359,880	242,791	109,114

15 Creditors: amounts falling due within one year

2025 £ 403,398 (63,107) 4,164 - 97,873 183,922 The	2024 £ 88,682 73,504 5,142 - 78,338 256,456 group	2025 2024 £ £ 399,265 68,041 (72,185) 67,408 - - 306,872 363,517 86,422 73,099 8,038 9,233 The charity	2025 2024 £ £ 399,265 68,041 (72,185) 67,408 - - 306,872 363,517 86,422 73,099 8,038 9,233 The charity
626,250	502,122	728,412	581,298
2025 £ 256,456 (380,520) 307,986 The	2024 £ 220,035 (212,410) 248,831 group	2025 2024 £ £ 9,233 37,695 (39,508) (37,695) 38,313 9,233 The charity
183,922	256,456	8,038	9,233
118,159 65,763	114,823 141,633	- 8,038	- 9,233
183,922	256,456	8,038	9,233
	Designated funds £ 1,089,707 190,000	Restricted funds £ - 385,597	Total funds £ 1,089,707 783,447
207,850	1,279,707	385,597	1,873,154
			37

16 Deferred income

17a Analysis of group net assets between funds (current year)

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

17b Analysis of group net assets between funds (prior year)

At 1 April 2024 £ - 7,250 21,114 1,954 12,250 2,562 - 12,122 6,143 - - -	General unrestricted £ - 209,596	Designated funds £ 289,012 190,000	Restricted funds £ - 63,395	Total funds £ 289,012 462,991
	209,596	479,012	63,395	752,003
	Income & gains £ 1,291,142 113,662 - 75,000 - 17,000 4,000 6,250 5,715 21,820 20,550 500	Expenditure & losses £ (230,347) (73,421) (1,963) (65,964) (3,500) (12,294) - (18,372) (235) (3,557) (20,550) -	Transfers £ (772,848) - - - - - - - (11,623) (18,263) - (500)	At 31 March 2025 £ 287,947 47,491 19,151 10,990 8,750 7,268 4,000 - - - - -
63,395	1,555,639	(430,203)	(803,234)	385,597
289,012 190,000	- -	(33,355) -	834,050 -	1,089,707 190,000
479,012	-	(33,355)	834,050	1,279,707
209,596	1,642,163	(1,613,093)	(30,816)	207,850
688,608	1,642,163	(1,646,449)	803,234	1,487,557
752,003	3,197,802	(2,076,651)	-	1,873,154

The narrative to explain the purpose of each fund is given at the foot of the note below.

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

18b Movements in funds (prior year)

At 1 April 2023 £ - 92,929 - - 3,500 607 11,249 6,143 2,886 - 2,888	Income & gains £ 10,765 164,492 8,125 23,750 15,750 60,000 1,500 - - 40,726 33,624	Expenditure & losses £ (10,765) (123,129) (875) (11,629) (7,000) (58,653) (10,187) - (2,886) (40,726) (15,398)	Transfers £ - (134,291) - - - - - - - - -	At 31 March 2024 £ - 1 7,250 12,121 12,250 1,954 2,562 6,143 - - 21,114
120,202	358,732	(281,248)	(134,291)	63,395
171,337 15000	- 15,000	(41,307) (15,000)	158,982 175,000	289,012 190,000
186,337	15,000	(56,307)	333,982	479,012
437,054	1,587,084	(1,614,851)	(199,691)	209,596
623,391	1,602,084	(1,671,158)	134,291	688,608
743,593	1,960,816	(1,952,405)	-	752,003

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

18b Movements in funds (prior year continued)

Purposes of restricted funds

The Restricted fund at the end of the year represents restricted funds received less expenditure. Restricted funds which relate to Fixed Assets have been transferred to the unrestricted designated fixed asset fund.

Creative and Community Campus Fund (previously Cedar Yards )

Grants from London Borough of Hounslow, National Heritage Lottery Fund, Trusts, Foundations and private donations to optimise the buildings and outdoor spaces to develop the resilience of the Trust. During the year the work started on Creative Campus and enabling works for the spaces.

Garden Projects Fund

Donations received for specified garden projects.

Conservatory Fund

Grants from the London Borough of Hounslow towards funding investigation works in realtion to the Conservatory.

Community Projects

Grant received from the Linbury Trust towards developing community gardens projects.

Kitchen Garden Staff Fund

Grants received to help fund kitchen garden staff position.

Chiswick Black History Project

Funds received from English Heritage Trust towards funding further projects relating to Black history at Chiswick House.

Cricket Fund

Funds raised for improvements to the Cricket Field.

Garden Staff fund

Donations received to fund garden staff positions.

Playground - individual donations

Funds raised from individual donations for the refurbishing of the playgrounds.

Community Arts Programme

Funds received from the Arts Council and individual donations to develop community arts events.

Memorial benches

Procurement or refurbishment of commemorative garden benches including 10 year bench maintenance programme and general garden upkeep.

IT Donation

Funds raised from individual donations for IT equipment.

Public programme

Funds received from the Arts Council and individual donations to develop and fund public events.

Purposes of designated funds:

Fixed assets

Fixed assets held by the Trust are not readily realisable and those held have been transferred to a separate designated fund. The transfer in this year represents fixed assets previously included in restricted funds, the funds having been applied for the purposes that they were first given.

Projects

Funds allocated towards the Community and Campus development by the Trust.

The Chiswick House and Gardens Trust

Notes to the financial statements

For the year ended 31 March 2025

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.