TURNER'S HOUSE TRUST a ¢ompany limlted by guarantee Report and Financial Ststements Year ended 31 December 2022 Registered Charity number: 1111653 Company number: 05420913 (England and Wale5} •ACIIKMfY* 0810412023 COMPNIEs HOUSE 7urnerfs House Trust Report and Financial Statements 2022
TURNER'S HOUSE TRUST REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2022 CONTENT5 Page Company information Report of the Director5 Introduction Legal and administrative information Charitable Objectives and principal artivities Financial review ReseNes policy Plans and objectives for the future Structure, governance and management Risk management Trustees. responsibilities statement Statement as to disclosure to Independent Examiners io io li 13 14 15 16 Independent Examinerfs report to the Trustees of Turner's House Trust 17 Statement of financial activities (including . .} Income and expenditure account Balance sheet Statement of cash flows Notes to the financial statements 18 19 20 21-27 Turne¢5 House Trust Report and Financial Statement5 2022
TURNER'S HOUSE TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022 Dirertors John Michael Deriaz IDeputy Chairl Julia Louise Holland Bailey Giles Clifford Dixon Matthew MorEan {appointed l January 20221 Frances Eli2abeth Harrison Moyle Rosemary Carol Murray Frances Clare Pardy Rosie Raizall (retired 18 July 20221 Dr Jacqueline Riding Fiona Stewart (appointed 17 January 2022) Guy Kenneth Peppiatt was appointed l March 2023 Secretary Rosemary Carol Murrav Honorary Treasurer Julia Louise Holland Bailey Registered Office Sandycombe Lodge, 40 Sandycoombe Road. Twickenham, TWI 2LR Registered Number 05420913 (England and Wales) Charity Registered Number 1111653 Independent Examiner Haines Watts, Aissela. 46 High Street. Esher. Surrey 10 9QY Bankers CAF 8ank Limited, Kings Hill. West Mallin& Kent ME19 4JQ Turner's House Trust Report and Fin3nci31 Statements 2022
TURNER'S Hou TRUST REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 DECEMBER 2022 The Directors, who also act as Trustees for the charitable activities of the company, present their report with the financial ststements of the company for the year ended 31 December 2022. Introdurtion Turnerf.s House benefited from the introduction of a new management structure in 2022 and this has enhanced our operations and our offering to the public. Visitor numbers have recovered to roughly pre pandemic levels and the landscaping of the new entrance onto St Margaret's Road has enhanced the visitor experience. We are grateful to our many supporters and donors in the local ommunity and beyond who have helped to make Turnerfs House a continuing success. Le8al and admlnistrative information The governing document IS the Memorandum and Articles of Association. and the company is constituted as a Company Limited by Guarantee. New Articles were approved by the Charity Commission and adopted on 13 March 2023. Trustees/Directors A list of the Director5 is given above on page 3. Charltable Objeclives and principal acli¥ilies At 31 December 2022. the charitable objective of the Company was: to odvonce educotion in the ort5for the benefit of the public by the preservation and conservation oASondycombe Lodge, 40 Sondycoombe Rt*7d. Twickenhom. Middle5ex TWI 2LR 05 0 monument to the ortistJo5eph Mollord Williom furner. Effective 13 March 2023 the charitable objective has been amended to: to ¢7dvonce educotion in the ortsfor the benefit of the public by the preservorion ond conservation of S(Jndycombe Lodge. 40 Sondycoombe Rood, Twickenham. Middlesex TWI 2LR us o monument to the artlStJoseph Mallord William Tumer ond by owning ond manoging a collection ond operating a museum b05ed on works of ond reloted to Joseph Mollord William Turner. The aim ol Turnerfs House Trust is to conserve and present J.M.W. Turnerfs architectural vision and original design for a small country retreat to be used by himself and his father. Turner designed the House and occupied it from 1813 for some thirteen years. entertaining many of his friends there. Turner's House Trust Report and FinClaI Statements 2022
The Trust fulfils its objective through maintaining the restored House and opening it to the public as museum and visitor attraction. By doing so Turnerf5 House Trust Seeks to celebrate J.M.W. Turner's artistic achievement through encouraging visitors to discover the house he designed and built, and the Thames landscape which inspired him. Through conserving and interpreting Turner's House. the Trust aims to build a deeper engagement with Turner a5 an artist. Public benetit: The Trustees confirm that they have had due regard to the Charity Commission's guidance on public benefit. The Trustees are committed to making Sandycombe Lodge and the services that we offer accessible to all, and to delivering a range of education and outreach activities. A sustainable operation will ensure that the benefits will continue in future. Achievements and Activities Turnerfs House opened to the public in July 2017 after a conservation programme which restored the House and garden to a state as close as possible to how it was in Turnerfs time. This was funded by a grant from the National Lottery Heritage Fund and by other generous donors. A further grant from the National Lottery Heritage Fund. awarded in 2019 under the Resilient Heritage programrne, aimed to help Turner's House develop its business plan and build a "Pothway to Sustoinobility- Working with specialist consultancies in planning a sustainable future for the House, a business plan was approved in earty 2020. This inclutled a fundraising strategy, options for utilising the grounds of the House and ways to enhance and increase volunteer involvement. We began 2022 by implementing a new House management structure. Dr Matthew Morgan was appointed as Museum Director. working two days a week. and Laurie Dupont joined as Operations Manager. Both Matthew and Laurie are experienced professionals having worked for many years in the heritage sector. Together with our Learning and Volunteers Officer, Rita Piglionica, they are creating an outstanding experience for all our visitors and strengthening our outreach into the local community. A highlight of the year was the exhibition -8etween the Sheets.. Turnerfs Nudes- which was a critical and commercial success. We also benefited from an enhanced range of merthandi5e on sale in our shop, whith proved attraclive to Visitors. We celebrated five year5 of operating as a public rnu5eurn by hosting è garden parry tor the comrnunity and being able to enjoy our newly enhanced garden. 2022 Exhibition: This year our exhibition was entitled "Between the Sheets.. Turnerfs Nude5" It tomprised rarely seen watercolours by Turner on intimate subjects, including paEes from Turner's sketchbooks. The exhibition was curated by two of our Trustees.. Dr Jacqueline Riding who is a noted art historian, and Franny Moyle who is well known as Turnerfs biographer. We 8re very Brateful to Jacqueline and Franny for taking on the work of curation, and to Tate Britain for lending the works. We are also most grateful to Michael Frayn and Claire Tomalin who ably performed the opening ceremony on 8 July. The exhibition received excellent reviews in national and local media Turnerfs House Trust Report and Finahoal 51atements 2022
and was very popular with the public."bringing more than 21XNJ visitors to the House over the summer. 2022 Events Programme.. We were delighted to offer è full programme of.in per50n" event5 Ot the House. plus several online or hybrid event5. A Zoom talk by Honorary Patron Catherine Parry- Wingfield attracted an audience of over 4(. and a series of talks by Turner expert, Franny Moyle was also extremely popular. Wine and gin tasting5 held at the House and presented by St Margaret's Wines were well attended. We held several private views and special events in connection with our Exhibition. including talks on Turner given by our Museum Director Matthew Morgan. In addition, we offered our specialist "House Connoisseur Tours" to private groups. A breakfast for local business leaders. combined with a private view of the Exhibition, helped to grow relationships with the business community. Artist in Residen. Henry Coleman was selected as our Artist in Residence. Henry is the latest in a line of Eraduates of the Royal Academy School to take up this role and produce work for us inspired by Turnerfs House. Henry was fascinated by Turnerfs role as architect of the House and by Turnerfs friendship with Sir John 5oane. His own work is often concerned with the.ways in which architecture determine5 our experience of the world, and as Artist in Residence he is creating a series of artworks inspired by JMW Turnerfs lessons on perspective, colour, and reflections. These artworks will be shown in the House from the end of March 2023. Henry ha5 alreacty run a workshop for a local primary school as part of our Learning Programme and will do more of these, and other interactive events. in 2023. Patrons: We were saddened to learn of the death of Professor Ken Howard RA, a Patron of Turnerfs House. Ken, a very distinguished artist, was a loyal 5UPPOrter of Turner's House over many vears. We are grateful to him and his family and extend to them every sympathy. We are also grateful to our other Patrons. Lord Egremont and Rebetca Salter PRA. and to our honorary patron Catherine Parry-wingfield for their continued support. We were delighted to welcome Lord and Lady Egremont to the House in August and show them what had been achieved since their previous visit. learning Programme- During the year. Turnerfs House delivered its well-established Key Stage 2 urner in Twickenhom- exhibition programme to 11 classes of Year 5 and 6 students in five prirnary schoo15 based in two local boroughs IRichmond and Hounslowl. This programme ha5 been running for four years and it is pleasing to see schools returning year after year and making this part of iheir student5, K52 journey. The totsl number of students reached was 335, an increase of 30% on the previous year. Eath student benefitted from 3 sessions as part of the programme- one session at Turnerf5 House itself and two at their school. Feedback continues to be very positive, and teachers are always very enthusiastic about the activities and outcomes. Turnerfs House also worked with seven other schools in providing a week's individual work experience for four students plu5 Specifically tailored workshops for three schools. Turne¢s House Trust Report and Financial Statements 2022
Turnerfs House h05ted a garden landscape design project for students from Kew Garden's School of Horticulture and we continued the well-established programme with students from Richmond upon Thames College in which the Friend5 of Turnerfs House provide prizes for artistic work on the theme Yurner in Twickenham". We extended our work with universities and colleges by offering an Msc Student placement to a student from University College London. Her work focused on reshaping the visitors. exit surveys to better understand our audience and its intere5t5. and she worked closely with the Learning and Volunteer Officer in the planning of two learning projects including drafting a funding application for one of these projects. Cornmunity and OutreaGh programme: We continued our work with Richmond MIND and AGE UK delivering 36 art and gardening workshops for adults with mental health issues and for older people in our community. The 3im was to alleviate loneliness. improve wellbeing, encourage new skills. develop creativity, ond enable participants to engage with local heritage in a safe and supportive environment. This work included two programmes focused on art, and a programme focused on gardening. We a150 SUPPOrted 10 elderly clients of AGE UK with a Your Turn with Turne programme of eight sessions. During 2022, our Learning, Community and Outreach Programmes reached 2,91 people of all ages and backgrounds through 130 events- an achievement of which we are all proud. Volunteers: Turnerfs House relie5 on a dedicated team of volunteers who play a vital role in all aspects of our operations. They welcome visitors. give guided tours. maintain the garden and House, and help with marketing and administration. We have around 50 active volunteers who between them provided more than 2,ciKJ hours of volunteer time in 2022. We are seeking to increase the number of volunteers in 2023 and hope to bring in new volunteers from across the local community. Our thanks to all our volunteers- the House could not operate without thern. Friend5 of Turnerfs House: The Friends of Turnerfs House continue to be an important part of Turner's House Trust. Friends, membership renewals are CurntlY taking place and they hope to rnaintain a membership of around 200 people. In 2022 they held two lettures- one via Zoom and one in person. Other activities included a walk along the Grand Union Canal to mark Turner's birthday: the AGM via Zoom- a summer party- a private visit to the Courtauld Gallery to see a selection of watercolours by Turner- and a Christmas coffee and cake morning. They once again organised their 7urner in Twickenham Prize. for art and design students ot Richmond upon Thames College. A book of antique Turner prints was donated to the Friends and a number of these were mounted for sale in the shop. Turne¢s House Trust Report and Financtal Statements 2022
Fundraising and Support.. In addition to the Friends of Turnerfs House, we have three tiers of membership for our supporters- the Pairons, Circle. the Sandycombe Circle and the Supporters Circle, each with distinctive benefits and opportunities for their members. Circle members enjoyed a range of special events and talks during the year and had exclusive "private view" attess to the Exhibition. We were pleased to welcome new Circle members during the year. We thank all our supporters whose contribution and encouragement has been so important: Trust, Foundations and Grants Arts Society. Richmond Astor Foundation Charlotte Bonham-carter Charitable Trust London Borough of Richmond Upon Thames Council's Civic Pride Fund and Retail, Hospltality & Leisure Business Grants ICovid- 191 Paul Mellon Centre lJ.M.W. Turner Symposium) The Circles of Art The D'oyly Carte Charitable Trust The Golsoncott Foundation The Julia and Hans RausinR Trust Worshipful Company of Grocers We are very grateful to all our supporters for helping us to continue the work of Turnerfs House. Our volunteers provide invaluable support to the Trust through all their activities and by sharin their diverse expertise and skills. We thank the Friends of Turnerfs House who presente(i donations of £5,SLKJ to the Trust. We are verygrateful for the work of the Friends Committee who manage the events and their membership. We also thank all those who contributed to our Big Give Christmas Challenge 2022 that helps to fund our 2023 Wellbeing programme. We raised over 20% more than in 2021 despite the challenging environment. In addition, Turnerfs House is very grateful for the invaluable pro-bono advice and support received from many people who contributed their expertise and / or artistic skills. Special thènks go to Joy Cuff who designed this yearfs Christmas card. those who provided their design skills for our marketinE. and those who provided landscape admice. Turnerfs House Trust Report and Financial Statements 2022
Sandycombe Lodge- Preser¥in& Conser¥in& Interpreting: The 2020 °Pothwoy to Sustoinobili plan included an architect-led review that helped us to determine how best to release the potential of a piece of neglected land that we own immediately adjacent to our main garden. We succeeded in obtaining planning permission approval for a supplementary pedestrian entrance from St Margaret's Road. The landscaping for. and construction of. the new entrance took plate in Spring 2022. The area now features a board walk leading towards the House from the St Margaret'5 Road, surrounded by natural style planting. This gives visitors a more welcoming and authentic approach to 53ndycombe Lodge with a view looking up to the house through the gorden. A small booth is used to welcome visitors and issue tickets. This is an important step fOard in a long-term plan to present the House as if Tumer had just left it. and to orientste the visitor experience around Turner the man. Concluslon: Turnerfs House is now established as one of the leading small museums of South-west London. As Covid-19 recedes, we are keen to increase our profile further and to reach even more visitors. Our professional team, as5i5ted by volunteers. SUPPQrter5 and donors. plan to make the House even more attractive and accessible in the year to come. Turnerfs House Trust RekK)rt and FIClaI Statements 2022
Financial review As Covid-19 recedes. the Trust plans to regain the momentum and to move towards operational and financial sustainability- At 3151 December 2022, the financial summary is: Unrestricted reserves - £246,754- after a defictt of £52.673. Restricted re5erve5- £19,872 - to be fully drawn down in 2023124 Net current assets- £140.952- and remain within our Unrestricted Reserves Policy Cash in Bank £137,499- a relatively good cash position for a 5rnall mLt5eum. The deficit is distorted by the 3 Year Adjacent Land Project as constnjction and planting took place in 2022 incurring costs of £44.795 whilst most income raised to fund the projett was recogni5ed in prior years. The Trustees are disappointed to report a larger than budgeted deficit and are addressing areas that fell short in 2022. Focus is on raising income to fund operational costs Imany fixed in the short/medium term). We are: Targetingfunders. including corporate sponsors who ore willing tofundcore operating costs os well os choritoble octivities ond projects. Attrorting more visitors to the House with improved morketing with on ottrortive schedule of exhibitions, 17Ctivitie5 ond commercial event5. A55es5ing our option5for medium- ond long-term portnership(5J. The Trustees, whilst continuing to assess the impact of "post pandemic / cost of living crisis" on this small museum. have approved a small deficit in 2023. Reserves policv The Trustees have decision-making authority on how they manage Reserves and Investments - taking account of the scale. complexity, and risk profile of the Trust together with it5 income and funding base. The Trustees balance the capital vested in Sandycombe Lodge and the needs of current and future beneficiaries. On an on-going basis, they plan to generate sufficient income and fundraising such that they can fund artivities for current beneficiaries. The Trusvs UNestrlcted Reserves are considered as short Icashl to medium / long lassetsl term reserves able to meet cash flow needs. Sandycombe Lodge is not regarded by the Trustees as able to be disposed of by the charity in the circumstances that are currently anticipated. Unrestricted reserves are expected to reduce in 2023 due to the planned deficit but will be retained at a level that the Trustees consider prudent and able to.. carry free reserve5 of 6- 9 months budgeted operating expenditure that can deal with short-term fluctuations in income and provide adequate working capital maintsin the Sinking fund at £50.( for the preservation and conservation of Sandycombe Lodge: short term projects Isuch as "match funding" in carnpaign5): and any operational "restarf in the event of any sustained period of closure. Turnerfs Hoe Trust Report and Financial Staiements 2022 io
Plans and objectives for the ITe Turner's House Trust aims to celebrate J.M.W. Turner's artistic achievement through encouraging visitors to discover the house he designed and built. and the Thames landscape which inspiied him. Through owning and managing a collettion and operating a museum based on works of and related to Joseph Mallord William Turner the Trust aims to build a deeper engagement with Turner as an artist. Key to being able to achieve the Trusvs aims is the need to become financially sustainable. The Trust continues to Use the "Pathway to sustoin0bili plan, which was supporte(I by the National Lottery Heritage Fund Resilient Heritage programme in 2019. as the foundation for our strategic plan. In a post-covid environment we are adapting the recommendations in the report and discovering the optimal ways to adopt its proposals. We will continue to host successful events. such as the very popular wine tastings, painting and drawing courses, and well-attended zoom lecture5. Our approach to future events is to build on these successes and explore further events that will attrart increasing numbers of people and meet our financial targets. Optimal marketing and the corrett price points remain vitally important. Our Private Hire offering is being launched in 2023 and, although we expect a gradual start, this should provide a further income stream. Our Strategy Meeting at the end of 2022 was a success and the Trustees are agreed that we will pivot to an interpretation strategy that emphasizes Turner the man and uses the advantages of the House to tell the stories that cannot be told only through encountering Turnerfs works in art galleries. It was agreed that the current management structure would enable the House to athieve its strategic and financial goals. The Strategy Meeting also focused on future partnerships. We will continue to work with local and community organisations such as Richmond Council, the Kew Horticultural School, Visit Richmond, local heritage sites, and local charities. We currently have a good working relationship with local businesses such as St Margaretrs Wines and will seek to broaden and deepen our links to businesses with focus on. for example, hospitality related businesses such as hotels and restaurants, as well as property related businesses such as property developers and local agents. These links aim to support us in the sponsorship for our exhibition and other activities. In 2023 we will embark on the process of becoming a fulfy accredited museum. The Trust will continue to hold an annual exhibition to enable visitors to experience and learn about J.M.W. Turner and his extraordinary art in the intimate setting of the house he designed. Our forthcoming exhibition is the first at the House curated by a freelance curator kindly funded by the Paul Melk)n Centre who are providing funding for two further years. Our exhibition remain5 the focal point of our activities. attracting visitors, and gaining p5$ coverage and critical attention. Turne<s House frust Report and Financial Statements 2022 li
The Trust's successful Learning and Participation Programme will continue to be centred around the themesof.. Social Impact "Join in at Turnerfs House": Working through partnerships such as local schools, MINO and AGE UK with audiences who can really benefit from coming together, learning and creating including to promote a sense of well-being. Artist and Curator Developments -Get into Turnerfs House" For young or emerging artists to inspire and support their development and to increase diversity in the sector. What'5 On and Events"Come enjoy Turnerfs House" Working to engage families and the community around Turnerfs House. Volunteers "Get involved at Turnerfs House" Creating events, meetings and training to engage, support and recruit volunteers. The Trustees remain committed to strengthening the operational ènd financial 5UStainability of the house so that the Trust can provide a fulfilling and enjoyable experience for all those that visit. We are committed to celebratin8 the life and work of J.M.W. Turner and the house he created. Turfierfs HouseTnJst Report and Financial Statements 2022 12
Structure, 8overnance and fflanagement The Board of Trustees are responsible for the overall dirertion and leadership of the charity. The Board may consist of up to fifteen directors. who are it5 Trustees for the purposes of charity law. At 31 Decembef 2021 there were ten Trustees. Following one retirement in July 2022 there were nine Trustees at 31 December 2022 and after an appointment on l March 2023 there ore ten trustees. The Trust is very appreciative of the expertise and support given by its retiring Trustee. One third of the Trustees retire by Totation each year with those longest in office retiring first. Retiring Trustees are eligible for re-election. The Trust continue5 to provide all newly appointed Trustees with an induction which includes relevant information such as the Trust'5 constitution and its policie5, guidance on the role and responsibility of a trustee as well a5 Strategic, f inantial. and historical I contextual information about the Trust. The recruitment of a new Chair is ongoing. In the meantime. the role of the Chair continues to be managed by the Vice-chair with support from fellow Trustees. In 2022, the Tru5tee5 met formally seven times including for a strategy workshop in November a5 well as attending ad hot meetings as needed. During 2022 the House was managed by the Museum Dirertor who was responsible for the operational management of the Trust and who is also a trustee. There were three 5ub-cornmittees of Trustees.. the House Management Committee covering property and operational matters. Collection5 ond Nominations Comrnittee5. After reviewing the management of the House, the trustees of Turnerfs House agreed a revised staffing strurture for 2022 with the aim of improving Ihe sustainability of the house including the visitor experience. Thi5 included three rnernbers of staff on fixed-term contracts namely the Museum Director. the Learning and Volunteer5 Officer and the Operations Manager. All staff work on a part-time basis. Additionally, at the end of 2022, the Finance Manager moved from a self-employed to an employed Contract also continuing on a part- time basis. rurnerfs House Trust Report and Financial Statements 2022 13
Risk managernent The Trustees remain committed to maintaining a strong risk management framework to ensure that the charity manages risk appropriately. This includes: the regular review ol the risks associated with the main undertakings of Turnerfs House Trust. Risks are organised under headings: operational, financial. governance. compliance and environmental policies, systems, procedures and additional actions to mitigate the risks identified The. principal risks that have been identifi'ed are: Financial sustainability Visitor numbers, visitor spend and attendance at events not meeting expectations The appetite and opportunity for continued fundraising The retention, engagement and recruitment of volunteers To address and mitigate these, the Trustees seek"to.' Maintain careful budgetary monitoring and financial control Increase visitor numbers through increased promotion. use of collections and loan exhibitions, active partnerships with similar heritsge houses to cross-promote, develop new audiences, and encourage repeat visits Continue to strengthen fundraising efforts Provide active support and enjoyable condition5 for volunteers Turnerf5 HouseTru5t Report and Financial Ststements 2022 14
Trustees. responsibilities Statement The Trustees (who are also Directors of Tumerfs House Trust for the purposes of company lawl 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 of the incoming resources and application of resources. including the income and expenditure of the tharitable company for that period. In preparing these financial statement5, the Trustees are required to.. select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP 2019 IFRS 1021 make judgements and estimates that are reasonable ond prudent stale whether applicable UK Accounting Standards 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 charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuraty at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charitable company ènd hence for taking reasonable Steps for the prevention and detection of fraud and other irregularitie5. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable compan(s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Turner's House Tnjst Report and Financial Ststements 2022 15
Statement as to disclosure to Independent Examlners In so far as the Trustees are aware: there is no relevant audit information of which the tharitable companws Independent Examiner is unaware.. and the Trustees have taken all steps that they ou8ht to have taken to Fnake themselves aware of any relevant audit information and to establish that the Independent Examiner is aware of that information. This report was approved by order of the Board on 13 March 2023 and signed on its behalf bv: John Michael Deriaz Dirertor and Trustee Turnerf5 HouseTiust Reprjrt and Finan(ial stsiements 2022 16
Independent Examinerfs report to the Twstees of Turnerfs House Tntst I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 18 to 27. Responsibilitie5 arKI basis of report As the charity trustees of the company land also its directors for the purpose5 of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2(M)6 Art'l. Having satisfied myself that the account5 of the tompany are not required to be audited under Part 16 of the 2CK16 Act and are eligible for independent examination. I report in respect of my exainination of your company's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charitv Commission under section 145151{bl of the 2011 Act. Independent examiner's ststement I have completed my exarnination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material resped.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act.. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give o 'true and fair Vie which is not a matter considered as part of an independent examination.. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Haines Watts Aissela 46 High Street Esher Surrey KTIO 9QY Turnerfs House Trust Report and Financial Statements 2022 17
TURNERSHOUSE TrUST srATrMENfoF FINANCIAL AcnvrriFS (IN(XUDING INCOMEAND £XPENDtTURE AccouKr) FOR THEYEAR ENDED 31 DECEMBER 2022 .R•$trkled.. &rflowm•rt Ytarto Yèar to 2022 2021 In¢orne and endowments frorn: . Donation$ 8nd legacies Chantable Othertradlng acOMties.' Bank Intefesi 20.479, 31.983: 52.462. 82,143 42.177, 38.8491 7.7841 246. 44.349,. 7.7B4,, 246 5.698. 57 Totsl income 37,483, 1 104.841 130.075 Exp•ndhur• IM.. R8isin9 funds ¢harible a¢ts"4Des Oknettr#din9 a¢tsNib"es 12.434 166.375 3,898, 8,S41 122.550 3.628 103.699-, 3.898" Total e4)enditure 120.031.. 62.676 182,707. 134.819 Net mo%ernent in fvnds 152.67311 125.1931. 177,8661. 14.7441 R•c<>nc4iatlon of fvnds.. Totsl fvnds bugh11ard. 299.427-. 45,065 3.419,681 i 3,764.173.. . 3.768,917 Total fund5 carrd fonvard 246.7541 3.419.681, 1 3,686.307 3.764.173 I the fesuksderib fr#m cartulnI actiyit The Statementol FinarKwl AttiMtie5indvde54llyinsan(I l¢r5es reCognd in the yew. The ne$0 page Zl to 27 fomi partof t1Than[la15tatrrt5. Turnerfs House Trust Repcrt and Financi315tatements 2022 18
TURNER'S HOiISETRusr BAIANCE 5MEET ASAT 31 DEMBER 2022 Rxed assets: Tangle assets Heritsge assets 125.0001 3.420,355,. 3,545.355.. 125.000 3,420,355 3,545,355 12 Curr¢ntas$¢ts: Stocks 7204 4.126. 137.499 148.829" 6.618.. 1,339 220,706 22863. D8btor5 13 Cash at bank and in hand ounts falling Llue wthin one >ear 14 (7.8771.. 19NSI: .Net cwrent assets 140.9521 218,818,. Tolal assets less currvntliabilities 3.764,173 t assets 18 3.686.307, 3.764.173 Funds Unrestricted fvnds 15 246.754, 19.872,. 3.419.681, 299.427 45,065 3.419,681 Reslricled fiJnd$ Endowmenl funds 16 17 Total IrtS carri•d forward 3.686.307.. 3.764.173 Yru5teestatewts rewlred bythe&imwiesAtl ZO In approth8these finatKial Statemer, the trsleEWIare d5fOr wryof(0mpéry1av1. hereb¥cwfirm'. ihot fN the year stated atth the w45 tIlled to ihe exeffloi cty7feed by 5errts 477 of ihe CompansAci 2CbJ6". that no notice ha5 beEn deposited •1 the re8i5rered offKe ol the cTrwany wrsvant to Secti£ 476 of ihe CompaniesAct 2006 rp9uesUn8th41 an audrt becondutted for the ¥ar endeL¢ 31 tcembw 2022., that the company as a charity issubj•xr toaudil undertheCharitsesAci 2011." • that we acknowledge our responbIlitIeS f#r tornp8 wth the reqwrements of the Corrwinies Act 2(4XS %%ith re5pert toattoJnting records Ihe preratiOn of accoun ThefinaJKial statements hove been prepared in acCordanWith the Part IS of iheCompaniesAtt 2LxJGret1n1to sm•llcomwnie5. Thefina statement5 were awred by ihe board on L3 March 2023 aThJ s¥ned its hèNb¥". Jtshn Michael Oeiiz Diiertarand Truste Turnerfs HouseTru5t Report and Financial Staiements 2022 19
ruRNERSHOUSETRU
STATEMENTOF CASH FLOWS FOR THEYEAR ENDED 31 DECEMBER 2022
Year to
Year lo
2021
Net cash used In operatlThJ actr¥lb"es
20
183,4531.
13681
Cash Ilws frtyn In%$bnnt a¢tV•Trtse$:
Interest income
Purchase of tangible fi
TLIRNER'S HOUSETRU NOTESTO THE FINANCIALsfATEMENTSFOR ThE YEAR ENDED 31 DECEMBER 2022 A¢¢oWti polks priPaI{COUtry pohoes ¥eI out bEknw.Thexcountry boenadopteOcc¥lSiltnttythT0who thètrtir •a51SolpreI1nithefft4t statomrts These fina11 ststRrnents hèvè prtwed in actotd•Kt Fr)ll Stthd 102-The FirAn¢KIl lIertI stsnda ppIKable in ihe UK Rry1 of In0' IF IOZI. Tho Sterneni ol PocomrneTrrfed Prartu awrable to chadlitt preparinl th?Ir att(t$ in xcoitt3rKe with FinaN41 Reportry St•r¥latd ap¢3b1 the UK •id Repvbk ind IFRS 1021 leftert I lanuJry 20191 Ithi YJRPI ardtn with1¢TWleSt 2[. IroAbwhKhtltewefer#l MatsrdepwtUre$. Thef4naath4sutemÈnis havÈ bÈEn preyitd L4ldpi thE hWh31 tw[¢eIand on al10YerTh ba51 Trl'S Trust meetsthe dkrihrth of a ent4ty WrFR$ JO2. Golnitont Iheflnand 5tatenlthnts bet• on a on[n ba%. paV rEler to to thsclosLYE ID lodependert Exarniny. The tW51ees h•we rdered the level ol fvnds ihe eed leel of irlrne eXpeIe lor 11 mwih5 from auihoiiSifv8 IhE5e fiTrincthi 51atementk ThÈ buduwed Inc¢Jme Ind eXpendrfu are suffKieni wrth the knlof rE5ervE5 forthe tt0 be abk to tttnlinue 45 J iowerrL All inctyThni ¢e$oUe5 14e ifKILded in thr vf FSn•Kial thE i5entitW ivthe Incorre ind ihe amDWIt c•n Donotitins anble9ttC5r¢r¢Ned tywavof dtrtS arÈ full inthÈ strtEriientof fin¥ndalattMts reteNab. by theFriÈfvJS pf TLYnrfs Trsouselthp on bEaOf thEthar+ty. ÉXpÈndttu Ibn w acuv4 ba515a5 a lb•ty iBwwrel. The foknw¥5pecW poknos wappfied to portthtsr(aresryles of expÉnditure'. Ependit4KE COStS¥XWred in irthiN(OStsinCLmd bvthè'FrfvdS. as part thewlurKliaiSir èrtMli5. fxptftdrtLWton Chor&oblpoctitti IS Costs in(utfQd by tho Trusi fvLrfS¢•f mÈètity its chJ¢itatye èlm5 and Includes costs Éxptftdittrfean trorfWryt1VrtKry1scQSts incL¥red intrJfryartr•ltS ufvJertakeThtO rni%elundSfortharitab puw5e5. FixEd asse15 cofflwtsetlntib I0 iThJ he¢ita8ea%sèts. T•niiblefixe4 J55e15•re stJied•tU6t lessxcwwfaied depttoaiw. DepreoatWJn ts fvKO¥wJed ai ¢atoscaknAJted towriteom cwt 55 ie¥dualvaluÈ of èath Ifs expected uXÈlNle. as lcd1". FvAturpsaffld Fitl- 25%str¥¥&ne efitale a5set5 purchased are $14ted at and those thai ¥e donated are rtCOBntsed at fair ¥abJe. Fwr valve 4 dererrnd by professional third.party ¥alatan or apprai511 of rnarkei-bwd th Trtee5 at trtlr di5cretiw. HeritJi assets * Go¥emmentiwaTrts G¢ant inCOth¢ reCOlserhea(rn1mC0jelO{ Fw4nCdftePNbn8St lot Grant Inrorneisrecointseth ifbits irforne elptndrturearrthlL1YStrnat0aStsLwIthÈ PE[ lowh tcOmpl[recO1nIS therpAatEd costs forwhiththe8rant is inttrnledtocomp¥tst. sio¢ Stated èt tht loeroc&4 and e5twMated nÈi rtlliwV3(5eryWire ta }. C4)St s detÈFrnMd UTrI the lilst.in ltrst-wrlFIFOlmethod. Fwd51nlCturn Thp flfftds theT¥ttolse'. Vnrtstrxt¢d 4enerolfvnd5- Iwe¢' by iFe io be ITr •ro)TrJJe thE tibittcts ¥ t discieiknn olthe TILStees. Restrted1m&J- Iynds to be usedoth ltsr reSlXKted PL¥WS the objects the tharity. RestrictJns when 5peofl¢d b¥doforsafvJ8ranl mabwb0dOrwhEThlds?re¥rya forwtuL¥ PLYW5es. £#dowfflfntluff6s- ILYMts ¢x ra¢ed IC be hEld ty lfve tharity fDr rhe methurn and term to O55&1 thE (h¥lty In rneeiinE tts aims.IThcDrne unre5tr¢td in rIule. Turner'5 HoLe Trust Report and Financkil 5t3tements 2022 21
TiIRNER'S HOUSETRUST NOTFSTOTHE FINANCIAL STATEMEKfs FOR THEYEAR EIIDED 31 DECEIIBER20Z2 Ktyfsiimatts and Altnts The prepa¢ahon of hnanDal st1ternerrt5knc1QrrnitYhfeSremrtOlrl¢ljrrnneI w¥tieEr¢iyrts m8tntto rnake ostimaies artd jL1ttat èfFert reported arnountsda$5ets Jno Iwbd¢5a5 wel 1st15(11[rltiVN3Sstts and ¥ab11t5 at the baLincesheeidaie thereF¢fftd•mwntyolre¥errt and Exp¢n5e5 duiirrfthe¥ewrtiD¢pEriOd. There Is fts%tes1lMatl?0urKe1ThCakv1nl4epreCIn.Afv1l knèhllreiwoffixtd maernent. wh11steryatrÈmpt is mèdÈ to emutethat the dewec4tion p0k¥i5cur0te5 kW51b there rema• rhatth¢ ptslicy does not match the$elU fife ol assetSaDd th e5timesfor reydwliffiwnts ret(wTab ftd1fttr.ThEreW nD rfÈpre¢sitrl in theyear ended 31 Decernber 2012. ThefE 15 5tt0eSMatyQn rtaIn5YthpfJwYaIolthe hritay property n¢holThKial stafrrynts. An irryirrrenf re¥y4 15 carried out 1nterffdwtytoeTr5u ttivIjOOfthasSe[ ts ftyJtLwtstated leyl lI¥sOft2 (frarfty The £harityiS a CL¥rtpany Iimii•d has K+thare caprtaL idrtyof exh mErntser 1h¢ trehttyf windini.up is Ilmlted ¢0 a rnaAimL¥b£l Y•A•ti The charfty 15 exeryi Fwffl tax on irKorne yins fallirrf witlrin 505 of the TaKes 198ft or secthin 256 of the TuJiioTr of ch¥&eab GamsAtt 1992 10 ihaittrseareapplW io ttsrhar4bleobJ"eos. 12n• 25ri7 2T.990 .LBRVT¢Prf?FvTh 25>3 a4791 3lStrJ 524 $2.143 2D21 27.. 14A54 6.49 10MU 44D49.. Turnerfs House Trust Repcrt and Financial Ststements 2022 22
TiIRNEA'S HOUSETRusr NOTESTO THE FWCIAL sTATEmEPSF0R THEYEAR ENDED 31 DECEMBER 2022 2IZI 121D 12.434. Y•wi 52hSf 2.911 15 45B'. 4JJ39 pJ4s 73 l.i ID12¢DbtrqtE733) 41.755. 16eJ754 111th5V Turnerfs House Trust Report and Financial Statements 2022 23
RNER'S HOUSETRusr NOTESTO THE FINANCIAL sfATEIIEprfs FOR THE YEAR ENDED 31 DECEMBER20Z2 Y•w 1021 20 2021 54.F10 5g.710. Y•¥r 32J921 A%Jthwy2022 125MJ 91.717 l JwlQ2Z AIJ4DLw2022 125.rts] A21 Der4mbo1202Z 12SWJ 125.1 Turnerf5 HouseTrust Report and Finala Statements 2022 24
TURJIERS HOUSEIRusr NOTESTOTHE FINANCIALSTATEIIEprrs FOR THEYEAR ENDED 31 DECEMBER Z022 ReslDiafonilra51 154¢.91S'. Th4rnE# Vttrtè 2• 1.339, Ywt YMrt• fraoe¢¢EIS eos.. J1111llOIi XA. {Igv>3iy 24Q7y •141Q•21 31rt211021 .?71 29*4? Tume¢s House Trust Report and Finarfial Ststements 2022 25
TURNER'S HOUSETRUST NOTESTO ThE FINANCIALsfATEMENTSFOR ThEYEAR ENDED 31 DECEMBER 2022 Jln2ft021 yi72' 17IJ JlJllm21 SI3 .nJ 43285 5.Tl)I 45M6S 17. 3.419MtsI 3419NI 3.41WI Y14r¢r*)IOewtht2Yt 125X• 3.419.Ml 347g,JSS 19m 1gM2 3.419MOI- 3.U6.SOT Ye¥r•ndn431 TL 12$0NJ JA20.$55 124663 451 674 l•J j191 3.761.17J Tumerfs House Trust Rep¢yt and Financial Statemtnts 2022 26
TURNERS HOUSEll¢iisr NOTFSTO THE FINANCtALSTATEMEPITS FOR THEYEIR ENDED 31 DECEhfB£R2022 1•. 10. Ye4rt• zi 14.744Tr. R4$1, 1571, 1•34531. Cash 18529711 230.7W j lJ7.499 Turnerf5 HouseTrust Report and Financial Statements 2022 27