SIR EDWA EPORT AND FINAN TATEMENTS Registered Charity No.. 1112773 NTENTS statutory Information Fieport of the Trustees 10. Audit Report ii. Statement of Financial Activities 12, alance Sheet 13. 19. Notes forming part of the financial statements cc NT
TRU TEE 'REP T AND YEAR ENDED 31 DECEMBER 2 Trustees: Mr Llncoln Sellgman Mr James Elder Colonel Gordon MacDougall Mr Edward Blckham Mr Peter Batey CMG OBE IChalrm3nl Mr Anthony Teasdale Mr Michael Mcmanus Mr Leo Austln Mr Neil Carmichael Slr Sherard Cowper-coles KCMG LVO (appolnted 27101120241 Offleers Manager Mr Ivan Smlth MRICS Addrass: Arundells 59 The Close Sallsbury SPI 2EN Advlsers Auditors: Fletcher & Partnern, Crown Chambers, Brldqe Street, Sallsbury SPI 2LZ Bankers.. Natwest. 48 Blue Boar Row. Sallsbury, SPI IDF Sollcltors: Wllsons Sollcitors LLP, Alexandra House, St John5 Street, Salisbury, SPI 25B R@glstered Number Charity No., 1112773 Page 1
UNDATIO FOR THE YEAR ENDED 31 DECEMBER 2 STRUCTURE, GOVERNANCE AND MANAGEMENT Introductlon by Peter Batey CMG OBE, Chalrman 2024 wa5 a further year of steady progress. fncome streams fmm the Sale of admlsslon tlckets, the net proceeds or Foundation events and revenue from third parties, hire of Arunde115 and its beautiful gardens for thelr own events contlnued to grow. We are proud of our varied event5 programme at Arundells and other venues in Salisburyr which Includes, theatre, opera, music, talks and semlna rs. It has become a valued additlon to life in Sallsbury and Is well supported by the local community. A clear hlghllght was the Foundatlon's annual Edward Heath lecture, held In Sallsbury Cathedral, whlch was a trlbute to Her Late Majesty Queen Ellxabeth, led by our Honorary Chalrman, Gyles Brandfftth, wlth contributlons from the broadcaster Angela Fiippon, Ailsa Anderson, a former royal press secretaryi Wugo Vickers and Robert Hardman. We look forward to next year's 2025 Annual Edward Heath lecture whlch will be given by the Rt Hon Sir John fwlajor, KG, CH, our Honorary President, in Salisbury Cathedral, a decade after he gave the inaugural lecture in 2Ql5. Outslde Sallsbury, we continued to develop our Edward Heath Unlverslty Lecture serles and launched the Edward Heath Academic Forum. Preparations have been made for the inauguration In 2025 of an Edward Heath Westminster Lectures serles, In collaboration with Europe House at 32 Smlth Square. At Broadstalrs, we contlnued to develop our annual 'Tedfest' In the town where he was born and grew up, At Arundells, work continued on the conservation and cataloguing of Sir Edward Heath's remarkable callection af palntings and other work5 of art at Arundells, wlth the hope of achlevlng museum aecredltatlon from the Arts Councll in 2025. The Foundatlon places growlng emphasls on engagement wlth the local communlty in Sa115bury and Wlltshire, especlally from le55 prlvileged areas. This include5 worklng with local schoo15, olfering piano lessons on Sir Edward's steinway grand piano in the Drawing Room at Arundells to gifted children from less affluent b8ckgrounds. We 8lso worked wlth Age Wlltshlre to support thelr work wlth the elderly. The Arundells Cotnmunlty Garden, created wlth the help of the Natlonal Lottery Herftage Fund, support that we gratefully acknowledge, goes from strength to strength and supports, and relles on the work of, vulnemble mllltary veterans. In the cornlng year we plan to add a small garden to grow herbs Ind plants tradltlonally used for cullnary and medlclnal purposes. We contlnue to face the future wlth optlmlsm and look forward to revlewlng our strategy next year In pursult Df our goal of securlng the future of the Sir Edward kleath Charitable Foundatlon for the long temi. My fellow trustees and I gratefully acknowledge that our progress has only been achleved wlth the hard work and support of our wonderful land still gmwlng) team of volunteers and our excellent staff. They are Indispensable and we are proud of them: thelr contrlbution 15 a 50urce of joy and satlsfaction, Governlng Document The Foundatlon was estsbllshed under the wlll of the Right HonDvrable 51r Edward Heath KG MBE proved In the Hlgh Court of Justlce on 18th January 2006, as amended by a Deed of Amendment dated 1st February 2007. Appointment, Training and Induction of Trustees The Trustees have the power to appolnt new Trustees and when maklng any appolntments the Trustees have regard to the requirement for special skllls and the needs of the foundatlon. New Trustees are made aware of their legal obllgatlons under charlty law and the alms and objectlves of the charlty. Page 2
OUNDATIO FOR THE YEAR ENDED 31 DECEMBER 2 Organisation The Trustees admlnlster the charlty and have regular meetings, whlch cover matters relatlng to the admlnlstrntlon and managlng of the trust. Rlsk Management The charity has appralsed its rlsks. The key headlngs under whlch r15ks fall have been Identlfled, and work contlnues to be done to ensure that adequate controls exlst to mitlgat'e the effect of those identlfled risks. Objects and activitie5 of the Charity The prlnclpal actlvlties of the Charlty are.. The preservatlon for the publlc benefit of Arundells and Its assoclated amenltles as a bulldlng of both speclal archltectural and historlcal Interest belng the home of Slr Edward Heath, The preservatlon of the furnlturet pictures, and rnemorabllia ordinarily kept at Arundells and the administratlon, maintenance and preservatlon of his papers relating to hls Ilfe and career. The advancement of educatlon through aCsS to Arundells and study and research of hls papers. The advancement of educatlon to the publlc In the arti5tlc appreclatlon of rnus5c. Such other purp05e5 whlch are exclusively charitable according to the law of England and Wales, In setting our objectives and planning our actlvities the Trustees have glven careful conslderatlon to the Charlty Commission's general guidan on public beneFIt. Revlew of actlvltles In 2024 A most encouraglng and very posltlve year for both Arundells and the wlder actlvlties undertaken by the Sir Edward Heath Charitable Foundation. Visltors Vlsltor numbers have shown a pleaslng and healthy Increase on 2023, wlth free entry contlnulng to be provlded for members of Hlstorlc Houses, and wlth dlscounts for Arts Fund 'Arts Pass, holder5, English Heritage members, Blue Llght and Defence Scheme card holders, those taklng part In the popular Gardeners World Magazine 2 for l offer, end vlsltors travelllng to Sallsbury by South Western Rallway. The promotional platforms provlded by these initiatives should not be underestimated, wlth all playing a significant part in not only boosting vlsitor numbers but also in prDmotlng Arundells to a wlder geographlcal audIen. Arundells was again selected as a 'Travellers Choice, award winner by TrlpAdvisor and ranked by that organisation as being numb8r 5 out of 73 thlngs to do in Salisbury. A magnlficent achievernent, arlslng from by a very hlgh number of 'excellent' visltor revlews. Events - Arundells The Arundells events programme contlnued to go from strength to strength In 2024, with a wide variety of talks, lecture5, seminars, theatrical productions and musical events available for local residents and visltor5 to 5a51sbury to enjoy throughout much of the calendar year, In addition to the beautiful garden at Arundells, and the collaborative use of a number of dlfferent venues withln Sallsbury, the onsite 'Studlo' exhlbltion room (the former stable block) has demonstrated what a very versatlle and popular Space It Is; well used for a wlde varlety of dlfferent attlvitles throughout both the open season and during the winter perlod. Easlly adaptable, and with a kitchen area and fully accessible toilet for le55 moblle vlsltors, Studlo based events have Included illustrated talks, classlcal and folk muslc COnrtS, craft workshops, meetlngs, semlnars, and range of temporary exhlbltlons. Page 3
ED CHARITABLE FOUNDATI FOR THE YEAR ENDED 31 DE EMBE Review of activitles in 2024 Cont. The 2024 programme of events has encompassed: The contlnuatlon of a serle5 of intimate Drawing Room Concerts played upon Slr Edward Heath's Steinway plano. Always well recelved, and wlth a popular followlng, these have Included concerts by Tessa Uys and Ben Schoeman, an evenlng of Jazz plano muslc wlth Phlllp Clout5, and i concert by the celebrated vSrtuoso plani5t Clara Rodriguez, The garden provlded a magnlficent settlng for summer evenlng jazz concerts by 'The FB Pocket Orchestra, and 'The Schmoozenbergs, along wlth excellent theatrical productlon5 of Persuaslon, Sherlock & Watson, Peter Pan, and A Mldsummer Nlght's Dream, 'Opera Anywhere, returned with a most enjoyable production of HMS Plnafore and, for the first time, Arunde115 hosted a summer evenlng Ceilidh. Thi5 wa5 extremely well supported, and it was partlcularly nlce to see so many younger people actlvely embracing thls new event,, all enjoylng the muslc and danclng wlth great enthuslasm. It was a prlvilege to be able to host the recordlng of one of Gyle5 Brandreth's Rosebud Podcasts. Held at the Godolphin School, the audlence were captlvated by Gyles in conversatlon wlth the well-known gardenlng expert and TV personallty Alan Tltchmarsh, An enllghtenlng and extremely enjoyable evenlng. 2024 saw a screenlng of the classlc silent film The General, starrlng Buster Keaton and widely recognlsed a belng one of the greatest cif all sllent fllms. Thls new event again proved very popular, belng shown at the Medleval Hall on a rather chllly Sunday afternoon In February. With Ilve piano accompaniment, it was hugely enjoyable. nckets sold Incredlbly qulckly to 'An audlence wlth Theresa May, Held at the Gulldhall, It was a great pleasure to welcoTne the former Prime Minister back to Salisbury and to listen to her ref lections on a varlety of topics. These included the Novichok poisonings that had such a distressing and profound effect Upon Sallsbury In 2018. Kate Adle, the well-known and gmund breaklng former BBC correspondent , gave a fascinating talk tltled 'Llfe on the Front Llne,, and It was a pleasure to host an evening featuring the former ITN newscaster end lournallst Alastalr stewart in conversatlon wlth Mlchael Mcmanus. Baroness Valerle AMDS enthralled her audlence wlth her excellent talk 'A Llfe of Flrsts,, James Holland, historian and writer, provided an Illustrated talk abDUt the Battle of Monte Caslno on the day that his new book Casslno'44 was publlshed. Slr Robln Nlblett, Fellow and former DIttOr of Chatham Housei gave a thought provoking talk titled The New Cold War - How the contest between the US and China will shape our Century and P8uI John50n, Director of The Institute fDr Fiscal Studles, a talk titled What Is wrong wlth the Brltlsh Economy. 2024 saw a variety of Studlo based speclal interest events highlighting Slr Edward's magnlficent collection of fine art, ceramlcs, and memorabilla. These included a talk about Japanese woodblock prints by Monlk8 H Inkel. Leon Mccarron, explorer and expedltlon planner, wlth an Illustrated talk tltled Travels: People and Places,. and Kate Walter speaklng about the artlst John Slnger Sargent In her talk The Maglc of Slnger Sargent. The Mornlng Cloud Salllng Talks provlde an Important Ilnk to the legacy of Slr Edward's hlghly accompllshed salllng career and, In partlcular, hls captalncy. of the Brltlsh Admlrals Cup team. We welcomed two speakers this year.. Yachtsman Tlmothy Long, who became the youngest person to sail singlehandedly around the coastllne Df Britaln at Just 15 years of age, and Peter Forbes, who talked about hls experlences of 5alllng through the canals of Europe and around the world on hls ketch Amel. The Annual Edward Heath Lecture The Foundation's flagshlp event was held on the 30th Mayi wlth Sallsbury Cathedral as the magnlflcent venue. Proceedings were expertly compered by the wrSter and broadcaster Gyles Brandreth; welcomlng a wonderful panel of speakers who - wlth an Intrlgulng blend of experlence and personal knowledge - dlscu55ed the Ilfe, legacy and outstandlng Servi of Her late Majesty Queen Ellzabeth II, The panel comprlsed Angela Rlppon, bmadcaster and commentator,, Allsa Anderson, a former press secretary to HM the Queen. Hugo Vlckers, author and royal commentator,. and Robert Hardrnan, writer and royal blographer. The afternoon provlded a warm trlbute to the Ilfe and dedlcatlon of Queen Ellzabeth, wlth many of those attending enjoying afternoon tea in the garden at Arundells followlng the lecture. Page 4
ED HEATH C ARIT BLE FOUNDATION FO THE YE R ENDED IDE Revlew of actlvlll8$ In 2024 - Cont. Events Further Afleld Slr Edward Heath was born In the peaceful seaslde town of Broadstalrs, In Kent, In 1916. To bulld upon thls Ilnk and the success of the Inltlal 2023 event held In Broadstalrs to celebrate how Important Slr Edward's early and formatlve years were In shaplng the course of hls Ilfe the Foundation agaln collaborated wlth the Sarah Thorne Theatre to stage a series of events over the weekend or the 13th and 14th July, These Included: A performance of Mlchael Mcmanus's Play Maggie and Ted, a Gyles Brandreth Rosebud Podcast Interview wlth Baroness Jacqul Smlth, former Home Secretaryi and Gyles performlng hls popular one man show whlch focussed up hrs new book Breaklng the Code, The weekend was a great success, wlth a simllar and enhanced 'Ted Festival, planned for 2025. Con$ervatlon Tourg . A look behlnd the scenes Kète Walter, the Curator of the Arundells collectlon, led a number of fasclnatlng and very popular 'behlnd the scenes, tours of the house over the wlnter months howlng small groups those parts of Arundells not normally open to visitors and focusing on the different work undertaken to conserve and care for the varied items within the collection. Exhlbltlons Kate Walter curated an excellent exhlbltlon titled Travels . People and Places that focussed upon Slr Edward's many journeys to far f lung parts cif the world. from hls formatlve years through to hls tlme as an Internatlonal stateman and Prime Minister, and Insplred by Sir Edward's book'Travels.' People and Places in my Life, In addltlon to Informatlve IIIu5trated pane15 wlthin the Studlo and the house Itself, the exhlbition featured many Items from the collection that are not normally on display. These included the camera that Heath purchased in Germany in 1937 when invited (as a student) to attend one on the Nazi Party rallies at Nurembergi a Perslan wedding manu5crlpt, lacqusrware from Japan and Chlna, the personaSlsed 'Camp David, Presldentlal retreat Jacket presented to him by US President Richard Nixon, a range of black and whlte and colour prlnt photographs, and other memorabllia. The exhibition was enjoyed and appreclated by Visito throughout the open season and thanks are due to Kate for the time, thought and hard work that she put into maklng it possible. Community Activitie5 We were agaln very pleased to fund a serles of seasonal, Indlvldual plano lessons for glfted puplls from schools located In less prlvlleged areas of Sallsbury. It was wonderful to See the experlence and enjoyment these young people galned from playing Sir Edward's Steinway plano in the Drawing Room at Arundells. In June, the garden played host to Age Wlltshlre, wlth some 140 Senior Cltlzens enjoylng an afternoon of nostalglc musical entertqinment followed by afternoon tea. Later In the summer, a group of hlghly talented puplls from South Wllts Grammar School performed a plano concert for thelr pa nts and relative5 in the Drawlng loom. The Arundells Communlty Garden The communlty garden was created as a core element of our 'Arundells Fit ror the Future, project, This commenced In 2022 and was klndly supported by the Natlonal Lottery Herltage Fund. Enthuslastlc and hard worklng groups of volunteers from the local communlty (Inltially supported by the Wiltshire & Swlndon Sports Partnershlp) and the Alabare led 'Boots on the Ground, project for vulnerable rnilitary veterans have led the use of thls new communlty faclllty located wlthln the derellct former potting and propagation area of the hlstorlc walled kltchen garden. Tliis fabulous resource continued to go from strength to strength in 2024, wlth volunteers actlvely engaged In tendlng the communlty garden on two days per week and growlng plants and vegetables from seed. Page 5
BLE FOUNDATJ NT 2024 OR THE YEAR ENDED 31 DE Review of activities in 2024 - Cont. Many surplus plants are now offered for sale to vlsltors to Arundells, wlth the proceeds belng put towards new equipment, 5eed5 and plant5. The garden provides a peaceful and therapeutlc retreet for all Involved. New frlendshlps have been formed, and the value In terms of soclal engagement and understandlng for those wlth mllltary backgrounds who may have experienced simllar trauma or distress cannot be overemphasised. The Foundatlon Is proud to be Involved wlth thls project and 2025 wlll see plans to create a small garden shovvcasing herbs and plants tradltlonally used for culinary and medlcinal purposes from medieval tlmes. The Edward Heath Academlc Forum Created to focus upon and promote the political legacy of Sir Edward Heath, and to brlng together academlcs and archive materlal to explore, study, and recognlse the key aspects of the Heath Government. The Foundation's University Lecture Programme now falls under the auspices of the Academlc Forum, thls provldlng addltlonal dlversity 8nd structure. Strong Ilnks have naw been forged wlth the unlversltles of Belfast, Edlnburgh, Newcastle, Nottingham, Klngs College and Queen Mary's, and the lecture programme wlll - on a collaborative basi5 go from strength to strength. Key actlvltles durlng the year have included a very Suc55ful event held at the Mlle End Institute In February, to both launch the Academic Forum and to di5CUSS the 1974 General Election. Lord (lobln) Butler, Lord McNally and Robert Saunders led the discussion. In August, an event held at Belfast University in conjunction with the John Hume Foundation focu55ed upon the 50th annlversary of the Sunningdale Agreement and Its relevance today. Proposa15 to host an ongoing and regular Series of We5tmlnster based lectures and talks are also belng formulated, Muséum Accredltatlon In line with the pararneters and guidance given by the Art5 Council England, Arundells has been worklng towards achievlng Accredlted Museum Status, 2024 saw the completlon of B new Forward Plan, the adoptlon of new policles and procedure5 relatlng to the care and preservatlon of the collectlon, security, acces5 and educational objectives, and the commencement of work to create the framework of a singular corporate trustee. In 2025, thls new Ilmlted company, operatlng through Its Artlcles of Assoclatlon, a committed board of director5, and a proactlve range of sub-committees, will lead the administration and management of the Charitable Foundation golng forward. The achlevement of Accredlted status Is a clear recognitlon that the hlghest standards in terms of the care and preservation of items Wlth a museum CDllection are being met, and that access for all, Interpretatlon, educatlon, and Inclusivlty are clear and recognisable objectlves. The application to the Arts Council for Arundells to be awarded Accredited M useum status was submltted In July and a declslon wlll be recelved In 2Q25. P8ge 6
IRED DHE FOUNDATION OR THE YEAR ENDED 31 DECEMBE Revlew of actlvltles In 2024 - Cont. Thank you Sincere thanks are due to all those who have willingly given 50 much Of their time to support Arundells and the Foundation by dellverlng such a wonderful selectlon of lectures and talks on a whole range of dlfferent toplcs,, whether In Sallsbury, at Broad5tairs, or at other locations throughout the UK. Their talks have provided '50methlng for everyone, and have been greatly enjoyed and appreciated. The trustees of the Foundatlon hugely appreciate the ongolng support and help glven by the staff and the many volunteers who make It posslble to not only open Arunde115 to V151tors, but to stdge a full and varled events programme and to achleve numerous collection care and associated conservatlon tasks throughout the year. Thelr enthuslasm15 tlreless. P8rticular thanks to the small nucleus of volunteers who help wlthln the garden at Arundells on a regular weekly basi5. They have grown In number over the last few years and provlde Invèluable asslstance wlth a wlde range of tasks, Plans for 2025 The Foundation will contlnue to promote Arundells as one of the foremost and most @njoyable vlsltor attractlons wlthln the Clty of Sallsbury and to bulld vlsitors numbers. Interestlng, ea511y accesslble, and wlth somethlng of interest for everyone. We wlll contlnue to hold a wlde selectlon and series of talks, lectures, muslcal and theatrlcal productlons, .work5hops and seminars and to encourage local businesses to SUPPOrt many of these events flnanciallyf glven the wlde beryefil that thls diverse programme brings to Sallsbury. A.runde115 provide5 a unique venue for both corporate and private event5 from birthday dinners in the dining room and drinks reptionS in a marquee withln the garden, to product launches and more formal meetings. 2024 was a very successful year and we hope to bulld upon and develop Dpportunltles In 2025. The annual Edward Heath Lecture will again be a highlight of the year, and we are hoping Lhat our Honorary Presldent, The Rt klon Slr lohn Major KG Ckt, wlll be the keynote speaker. The trustee5 will build upon the work of the Edward Heath Academic Forum, thi5 encompassing and broadening the Unlvers5ty Lecture programme and the development of the new Westmlnster serles Df lectures, talks and semlnars. The collectlon at Arundells is ntral to the vlsltor experlence and In promotlng the varled Interests and achievernents of Sir Edward Heath, not only as an International statesman and former Prlme Mlnlster, but as an art collector, yachtsman and musiclan. We hope that Accredlted Museum status will be conflrmed and that thls wlll pave the way to allowing the submission of additional collections related grant funding appllcations in support of vitsl conservation work. 2025 wlll see the creation of the corporate trustee and the clear framework that thls new limlted company will brlng to governance and the administratlon of the Charlty. The trustees and staff look forward to 2025 with both excltement and optimism, Page 7
TRUSTEES. REPORT AND A CEMBER 202 Flnanclal Revlew Vlsltor income increased to a total of £71,905 (2023,, É64,785). The charlty receSved donatlons of £122,437 (2023: £170,593), none of whlch were for restrlcted purposes (2023: £51,491). The charity also generated income of £93,334 (2023: £67,665) from runnlng other events, Expendlture decreased to £315,355, of whlch none related to funded project Costs, Totsl expendlture In 2023 was E344,424, of which £52,227 relates to funded project costs, Overall there was a net10s5 In funds of £7,683 compared wlth a loss of £23,780 In 2023. The charlty had no restricted funds at the year end. Unrestritted funds decreased to £4,104,377, Tre flxed asset5 total £4,153,068 of whlch the vast majority amounting to £4,136,662 conslst of Arundells and Its contents. Thi5 therefore leaves £24,215 of unrestricted funds for the charity's activities, includirTg the malntenance of Arundells. Investment Powers and Pollcy The charlty has the power to invest In any way the Trustees see rit. The charlty's Investments are, however, minimal. Reserves Policy The Trustees, pollcy Is that the charity's free reserves (that Is, excludlng Amndells and Its contents) should not be allowed to fall to a level whlch would imperll on orderly c105ure of the charlty's operatlons. TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The law appllcable to charltles requlres the Trustees to prepare financlal Statements for each financial year whlch give a true and fair vlew of the charlty's financial actlvlties during the year and af its financlal position at the end of the ye8r. In preparlng the flnanclal statements glvlng a true and falr vlew, the Trustees should follow best practlce and: Select sultable accountlng pollcles and then apply them conslstently, Make judgement5 and estimates that are reasonable and prudent, state whether applicable accounting standards and statements of recommended practlce have been followed, subject to any departures dlsclosed and explalned in the flnanclal statements.. and Prepare the flnanclal statements on the golng concern basis unless It Is Inappropriate to presume that the charlty wlll contlnue In operatlon. The Trusteeg are regponsible for keeplng accounting records whlch dlsclDse wlth reasonable accuracy the flnanclal po55tlon of the charity and which enable them to ascertain the financial posltlon of the charity and whlch will enable them to ensure that the financial statements comply with the Charltles Act 20 11, the Charlty (Accounts and Report) Regulatlons and the provlsions of the trust deed. The Trustees are responslble for safeguardlng the assets of the charlty and hence for taklng reasonable Steps for the preventlon and detection of fraud and other Irregularities. Approved by the Trustees and signed on their behalf Peter Batey CMG OBE- Chairman Date: Page 8
DITOR ' REPORT TO Qplnlon We have audlted the f Inanclal statement5 of The Slr Edward Heath Charltable Foundatlon for the year ended 3 1 December 2024, which comprise of the Statement of Financlal Actlvltles, the Balance Sheet and the related notes. The financlal reportlng framework that has been applled In their preparation Is appllcable law and Unlted Klngdom Accountlng Standards, Includlng Flnanclal Reportlng Stsndard 102.. The Flnancial Reporting Standard applicable Sn the UK and Republlc of Ireland (Unlted Klngdom Generally Accepted Accounting Practice), In our opinion the financlal ststements: give a true and fa Ir vlew of the state of the charlty's affairs as at 3 1 December 2024, and of the Incomlng sources and application of resources for the year then ended, have been properly prepared In accordance wlth United Klngdom Generally Accepted Accounting Practice; have been properly prepared In accordance w5th the Charltles Act 2011. Basis for opinion We conducted our audlt in accordance wlth Internatlonal Standards on Audltlng(UKI {ISAs(UK)) and appllcable law, Our responslbllltles under those standards are further descrlbed In the Audltors responsibilitles for the audit of the fina'nclal statements section of our report. We are Independent of the charlty in accordance with the ethical requlrements that are relevant to Dur audlt of the flnanclal statements In the UK, Includlng the FRCS Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth these requlrements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu$lon$ relating to going concorn In audltlng the flnancial statements, we have concluded that the dlrectDrs' use of the golng conrn basis of accounting In the preparatlon of the financlal statements Is approprlate. Based on the work we have performed, we have not identifled any materlal uncertainties relatlng to events or condltlons that, indlvidually or collectlvelyi may cast 51gnlflcant doubt on the Charlty'5 abillty to continue as a going concern for a period of at least twelve month5 from when the financlal statements are authorised for issue. Our responsibllitles and the respon5ibllltles of the trustees wlth respect to going concem are described in the relevant seciion5 of this report. Other informatlon The trustees are responsible for the other informatlon. The other infomiation comprises information included in the annual report, other than the flnanclal statements and our audltor's report thereon. Our opinlon on the f inanclal statements does not cover the other Informatlon and, except to the extent otherwise expllcitly stated in our report, we do not express any form of assurance concluslon thereon, In connection with our audit Df the financial statements, our re5ponsibllity is to read the ather information and, In dolng so, consider whether the other Informatlon Is materlally inconslstent wlth the flnanclal statements or our knowledge obtalned in the audlt or otherwlse appears to be materlally misstated. If we identify such materlal inconsistencie5 or apparent material mi55tatements, we are required to determine whether there is a material mlsstatement In the flnancial statements or a material mlsstatement of the other information. If, based on the vvork we have performed, we conclude that there is a materlal mi5Statement5 of thls other Informatlon, we are requlred to report that fact, We have nothing to report in thi5 regard. Page 9
EPORT TO HET EE ED Matters on which we are required to report by exception In the Ilght of the knowledge and understanding of the charity and its environment obtalned In the course of the audlt, we have not Identlfled materlal mlsstatements In the trustees annual report. We have nothlng to report In respect of the followlng matters In relatlon to whlch the Charltles Art 2011 requlres us to report to you If, In our opinlon: sufflclent accounting fftcords have not been kept, the flnanclal statements are not In agreement wlth the accountlng record5 and returns,. Dr we have not obtained all the Information and explanatlons necessary for the purpose5 of our audit. Responslbllltles of Trustees As explalned more fully In the Trustees, Respon51billty Statement, the trustees are responslble for the preparation of the flnanclal st8tements and for being satisfied that they give a true and falr vlew, and for such Internal controls as the trustees determlne Is necessary to enable the preparation of the financial statements that are fr.ee from mat'erlal mlsstatement, whether due to fraud or error. In preparing the financial statements, the trustee5 aff responsible for assessing the charity's ablllty to contlnue as a golng concern, disclosing, as applicable, matters related to going concern and using the going concern ba515 of accountlng unless the trustees either intend to liquidate the charity or to cease operatlons, or have no reallstlc alternatlve but to do so, Auditors re5ponslbilitie5 for the audit of the financial statements Our objectlves are to obtaln reasonable assurance about whether the flnanclal ststements as a whole are free from materlal mlsstatement, whether due to fraud or error, and to Issue and audltor's report that In¢lude5 our opinion. .Reasonable assurance Is a hlgh level of assurance, but is not a guarantee that an audit conducted in accorctance wlth ISAS (UK} wlll always detect a mat@rlal mlsstatement when It exlsts. Mlsstatements can arlse from fraud or error and are consldered materlal If, Indlvldually or In aggregate, they could reasonably be expected to Influence the economic decisions of user5 taken on the basis of these financial statements, We exerc15e professlonal ludqement and malntain professlonal sceptlclsm throuqhout the audit. Irregularltles, Includlng fraud, are InStanS of non-compllance wlth laws and regulatlons. We design procedures in Ilne with our re5ponsibllltles, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to whlch our prDcedures are capable of detectlng Irregularltles, Includlng fraud Is detalled below: We ensured the engagement team collectlvely had èpproprlate competence and capabllltles to recognlse non- complIan wlth appllcable laws and regulatlons. we Identlfled the key laws appllcable to the charity as those established in the Charity's constitution and wider Charity law, employment law and Health and Safety regulations. We assessed the susceptibillty of the charity's accounts to material mis-statement by making enqulrles of manaqement and revlewino Intern41 controls. A further description of our responslbllltles for the audlt of the f Inanclal statement5 is located on the FFiC webslte I www.frc,org, uk/auditorsrespDnsibilities) This descrlption forms part of our auditors report. Thls report Is made solely to the charlty's trustees, as a bodyi In accordance wlth sectlon 144 of the Charltles Act 2011 and regulatlons made under sectlon 154 of that Act. Our audlt work has been undertaken so that we might st3te to the charity's trustees those matters we are required to state to them In an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslblllty to anyone other than the charlty and the charlty's trustees as a body, for our audit vJork, for thls report, or for the oplnlons we have formed, Fletcher & Partners Chartered Accountants and Statutory Audltors. Crown Chambers, Bridge Street, Salisbury, SPI 2LZ Fletcher & Partners 15 eligible to act a5 an auditor In term5 of sectlon 1212 of the Companies Act 2006. Page 10
SIR EDWARD HE TIVITIES OR THE YEAR ENDED Unrestrlcted Fund5 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2U2. Note INCOME FROM: Donations Natlonal Lottery Herltage Fund Grdnt other Donatlon5 49,951 120,097 122,437 122,437 Investments 83 83 80 Charltable actlvltles Visitor Incorne Vlsltor rnerchandlse Income Events Sundry Income 71,905 5,367 93,334 141 71,905 5,367 93,334 141 64,785 8,003 67,655 1,056 Other tradlng actlvltles Prlvate lettings 14,192 14,192 8,897 TOTAL INCOME 307,459 £ 307,459 320,524 EXPENDrruRE ON: Charitable activitie$ 315,355 315,355 344,424 TQTAL EXPENDITURE 315,355 £ 315,355 325,770 Net galn / (losses) Dn Investments 213 213 120 Net incorne/(expendlture) Transfers between funds (7,683) (7,683) (23,780) NET MOVEMENT IN FUNDS (7,683) {7,683) (23,780) Total funds brought forward £ 4,112,060 £ 4,112,060 £ 4,135,840 Total funds carrled forward £ 4,104,377 £ £ 4,104,377 £ 4,112,060 The note5 on pages 11 to 17 form part of these accounts Page11
LAN ND E SHEE ECEMBER 202 Note 2024 FfXED ASSETS: Tangible Assets Herltage Assets Investments 14,908 4,136,662 1,498 4,153,068 19,334 4,145,494 1,286 4,166,114 CURRENT ASSETS: Stock Debtors Cash at bank and in hand io li 5,346 24,518 9,940 5,889 25,781 7,109 39,804 38,779 CREDITORS: Amount$ falllng due wlthin one year 12 15,589 19,927 NET CURRENT ASSETS 24,215 18,852 TOTAL ASSETS LESS CURRENT LIABILXTIES 4,177,283 4,184,966 CREDITORS: Amounts falling due fter tsne year 13 72,906 72,906 TOTAL NET ASSETS £4,104,377 £4,112,060 THE FUNDS OF THE CHARJTY: Unrestrlcted funds - General Fund Restricted funds 4,104,377 4,112,060 TOTAL CHARITY FUNDS £4,104,377 £4,112,060 51gned on behalf of the Board of Trustees Peter Batey CMG OBE- Chalrman Approved by the Tru5tee5'. Zl:>¢. lui The notes on pages l I to 17 form part of these accounts Page 12
FOR ING PART OF THE FINANCIAL STATEMENT I. PRXNCIPAL ACCOUNTING POLICIE5 a. Basls of Accountlng The flnanclal statements of the Charlty are prepared in accordance with the Accounting and Reporting by Charltles.. Statement of Recommended Practice appllcable to charitles preparing thelr accounts In accordance wlth the Flnanclal Reportlng Stendard appllcable In the UK and Republlc of Ireland (FRS 1021 published on 16 July 2014, the Financial Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102) and the Charities Act 2011. No adjustments were required as a result of the transltlon to these standards, The flnanclal statements have been prepared under the hlstorlcal cost conventlon wlth Items recognlsed at cost or transactlon value unless Otherwlse stated In the relevant notes to these accounts, The charitv CDnstltutes a Dublic benefit entllN as defined bv FRS 102. There are no materlal uncertalntles about the charitv's abllltv to contlnue as a qolnq concern. see note 15 for further Information. b. Fund Structure Unrestrlcted fund5 comprise those funds whlch the trustees are free to use In accordance wlth the charltable obiects. Restricted funds a re funds whlch can only be used for partlcular purposes wlthln the objects Of the Trust. Restrlctlons arlse elther when they are specifled by the donor or when funds are raised for a speciflc purpose. c. Income Voluntary Income Includlng donatlons, glfts and legacles and grants that provide core funding or on general nature are recognlsed where there 15 entitlement, certainty of receipt and the amount can be measured wlth sufflclent rellèbllltv. Visitor income Is recognised at the date the vlsit takes place. Deposlts recelved In advance are treated as deferred Income In the accounts. Investment Income is recoqni5ed on a recelvable basi5, d. Expenditure Expendlture Is accounted for on an 8ccru81s basls. Charitable activlties Include all expenditure associated with the maintenance of Arundells, and includes governance costs. Governance CDsts comprlse the costs of audlt, legal adv1 and compllance wlth constitutlonal and statutory requlrements. e. Tangible Fixed Assets Flxed a55ets are stated at cost less accumulated depreciatlon. Indlvldual assets costing £500 or more are capitalised and depreciatlon is calculated to write off the costs over their expected useful economic lives as follows., Fixtures and Fittlngs DepreGiable Malntenance f. Herltage Assets No depreciatlon is prDvlded an the assets acquired through the Drlglnal glft from the Estate of Slr Edward Heath, It Is the pollcy of the Foundatlon to carry out annually a full repalr and malntenance programme such that the residual values of these assets, based on prices prevalllng at the date of acqulsitlon or the 2005 probate value, as appllcable, are at least equal to thelr carrylng value, Signiflcant repalrs that wlll reoccur on a cycllcal basls wlll be capltallsed and depreclated over thelr expected Ilfetime, Carrylng values are revlewed annually and provlslon made, If necessaryi for any Impairment In value. The Trustees have no intentlon to acquire or dispose of any heritage assets In the near f uture. Assets held in the collectlon are maintalned In accordance wlth M useum Accredltation Standards. 10 year5 Straight line basls 15 vears straioht Ilne basi5 g. Investments Flxed asset investments are held to generate Income. Investments are stated at rnarket value (mld market prlce) as at the balance sheet date. The Statement of Flnancial Actlvlties Includes the net gains and1055e5 arising on revaluation and disposals throughout the year, Other recognised gains and losses All galns and losses are taken to the Statement of Flnanclal Actlvltles as they arise. Realised galns and losses an Investments are calculated as the dlfference between the sale proceeds and opening market value (or purchase date If later), Unrealised gains and losses 8re calculated as the dlfference between the market value at the year end and openlng ma rket value (or purchase date If later), Page 13
OTES TO THE ACCO I. PRINCYPAL ACCOUNTING POLICIES (CONTINUED) h. Stock stock consists of guidebook5 held ft)r sale or other use as required. Thes8 are stated at the lower Df c05t and net mallsable value. Debtors Debtors are measured at the amounts the charlty antlclpates It wlll receive from a debt or the amount it has pald In advance for goods or service5, j. Cash at bank and in hand Cash at bank and In hand Includes cash and cash on dep051t. k. Liabllitles Llabilitles are measured at the amounts the charity anticlpatas it wlll pay to settle a debt or the amount It has received as an advance payment for goods or servlces It must provide. l. Flnancial Instruments Thé charlty only ha5 flnanclal assets and Ilabllltle5 of a klnd that quallfy as basic flnanclal instruments. They are Inltlally recog nlsed at transactlon value and subsequently rlleasured at their Settlement value. o. Penslon Costs The charity operate5 a defined contribution scheme for its employees. Contrlbutlons are charged In the accounts as incurred. 2. INCOME FROM DONATIONS Unrestricted 2024 Restricted 2024 Total 2024 Total 2023 Income from general donatlons Income from sponsorshlp Natlonal Lottery Herltage Fund Grant Income from other grants 118,837 3,600 118,837 3,600 92,059 10,000 49,951 18,038 £ 170,048 122,437 £ £ 122,437 2023 202 202 2022 Income from general donations Incom@ from sponsohlp Natlonal Lottery Herltage Fund Grant Income from other grants 92,059 10,000 92,059 10,00 49,951 18,038 54,167 4,775 49,951 6,700 49,951 14,54CP 3,498 105,557 £ 64,491 £ 170,048 £ 115,593 3. INCOME FROM INVESTMENTS Unrestrlcted Restrlcted 2024 Total 2024 Totsl 2023 2024 Income from list8d Investments 83 83 80 83 £ 83 80 All investment income is unrestrlcted. Page 14
NDATIO OR THE YEAR ENDED 31 DECEMBER EXPENDITURE ON CHARITABLE ACTXVXTXES Unrestricted 024 Restrlcted 2024 Total Total Malntenance and runnlng of Arundells Event costs Exhlbltlon Costs Governance costs (Note 5) Expendlture relating to the openlng of Arundells to the publlc 149,707 62,204 920 18,207 149,707 62,204 920 18,207 146,781 48,090 59 66,381 84,317 315,355 £ 84,317 315,355 83,023 344,334 2023 2023 2023 2022 Malntenance and runnlng of Arundells Event costs Exhibitlon Costs Governance costs Expenditure relatlng to the opening of Arundells to the publlc 144,095 48,090 59 16,430 2,776 146,781 48,090 59 66,381 133,678 56,945 10,544 59,814 49,951 83,023 291,697 £ 83,023 64,789 52,727 £ 344,334 325,770 GOVERNANCE COSTS Unrestrlcted 2024 Restrlcted 2024 Total 2024 Total 2023 Audltors, rernuneratlon audlt for other services 2,300 2,414 12,561 932 2,3JO 2,414 12,561 932 2,400 2,857 5,020 842 55,262 Legal fees Trustee5' expenses 'Flt for Future, Project 18,207 E 18,2D7 66,381 Trustees recelved no remunerBtlon or beneflts (2023.. £NII). No trustees (2023,. NII) were relmbursed any {2023'. £NlI) travelllng expenses or any other expenses Incurred on the charlty'5 behalf. Trustee indemnity insurance of E 1,093 (2023,, £932) was paid durlng the year. common wlth many other buslnesses of our size and nature we use our audltors to asslst wlth the preparatlon of the financial statement5 and some tax compllance. The 'FIt for Future, project lated to consultancy expenditure funded by the Stage l of the National Lottery Heritaoe Fundinq arant. STAFF COSTS Salarfes and wages Social securlty C05t5 Penslon costs 130,450 4,494 4,135 122,029 4,107 3,942 £139,079 £130,078 The staff cost5 are wholly chargeable to charltable expenditure. No employee had emoluments (not Includlng employer's National Insurance Contrlbutlons or employer's penslon contrlbutlons} In excess of £60,000 (2023 The total remuneratlon pald to key management personnel (Including employer's Natlonal Insurance Contrlbutions and employer's penslon contributions) In the year was £41,808 12023., £41,808), The average headcount of employees, including part Ilme , analysed by function, were: Administration, curating and maintenance Guldes and receptlon staff io 14 Page15
WARD HEATH CHARITABL FOUNDATION FOR THE YEAR ENDED 31 DECEMB TANGIBLE FIXED ASSETS Flxture5 & Fittin Total COST At l January 2024 Addltions Di5P05als Transfer 47,632 375 47,632 375 At 31 December 2024 48,007 £ 48,007 DEPRECIATION At l January 2024 Charge for the year Dlsposals At 31 December 2024 28,298 4,801 28,298 4,801 33,099 £ 33,099 BOOK VALUE At 31 December 2024 14,906 £ 14,908 At 31 December 2023 19,334 £ 19,334 HEIUTAGE ASSETS Freehold House House Contents Depreclable Malntenance Total COST At l January 2024 Additions Dlspgsals TraNsfer 3,054,252 983,490 132,481 4,170,223 At 31 December 2024 £ 3,054,252 £ 983,490 E 132,481 £ 4,170,223 DEPRECIATION At l January 2024 Charge for the year Dlsposals At 31 December 2024 24,729 8,832 24,729 8,832 33,561 33,561 NET BOOK VALUE At 31 December 2024 £ 3,054,252 £ 983,490 É 98,920 £ 4,136,66 At 31 December 2023 £ 3,054,252 £ 983,490 £ 107,752 £ 4,145,494 No capital expenditure has been contracted for at 3 1 December 2024. These assets ccimprise Arunde115 and it5 content5 which the trustees Consider constitute herliage asset5 wlthln the definition of FRS 102 sectlon 34. Arundells, whlch Is located In Sallsbury Cathedral Close, was acquired by and Ilved In by Slr Edward Heath durlng the latter part of his life. and the content5 con51St of the furniture, works of art and other articles acqulred by Sir Edward over h15 lifetime. The collection of assets held is malntained In accordance to Museum Accredltatlon Standards. FIXED ASSET INVESTMENTS Llsted Investments Market value at l JanLJary 2024 Net gain on revaluation Market value at 31 December 2024 1,286 212 £1,498 Page 16
RD HEATH CHARITABLE F FOR THE CEMBER 2024 io. stocks 2024 2023 Finished goods and goods for resale 5,346 5,889 11. DEBTORS Other debtors Prepayments and accrued Income 11,508 13,OlQ 6,766 19,015 £24,518 £25,781 12. CREDITORS. Amounts falllng dué wlthln one year 2024 2023 Accrua15 Other credltors 13,347 2,242 17,032 2,895 £15,589 £19,927 13. CREDITORS: Amounts falling due after one year Loans 72,906 £72,906 72,906 72,906 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted Fund Restricted Fund Total Funds Fixed assets Cash at bank and In hand other current asset5 Creditors amount5 falling due withln one year Creditors amounts falling due after one year 4,153,068 9,940 29,864 (15,589) (72,906) 4,153,068 9,940 29,864 (15,589) (72,9061 £4,104,377 £4,104,377 23 Flxed assets Cash at bank and In hand other current assets Credltors amoLJnts falllng due wlthln one year Credltors amounts falllng due after one year 4,166,114 7,109 51,670 (19,g27) (72,906) 4,166,114 7,109 31,670 (19,927) (72,906) £4,112,060 £4,112,060 Page 17
SIRE WA cc YEAR ENDED 31 DE CONnN R TH 15. RELATED PARTY TRANsAloNs Donatlons lexcludlng g Ift ald) or £81, 138 (2023., £52,8601 are owed to the genemslty of the trustees. at 31 December 2024 the charlty owed P, Batey £72,906 (2023., E72,9061, belng a loan suppli8d to fund rgqulred repalrs and redecoratlons to the exterlor of Arundells. 16. Restrlcted Funds l January 2024 31 DecembÈr 2024 2024 Incoming Outgolng Transfer5 Totsl l January 2023 31 December 2023 2023 Incomlng Outgoing Transfers Natlonal Lottery Herltage Fund 49,951 (49,951) Ming Bowl 736 1,540 (2,276) Wllt5hlra Communlty Fund 12,500 (12,5001 Wilt5hir8 And Swindon Sport 500 (500) Total £736 £64,491 {£52,7271 1£12,5001 Natlonal Lottery Herltage Fund Ing provlded è grant to fund the 'Arundells - Flt for Future, project. Ihe Mlng Bowl fundirbg relates to a grant provided by the Associatlon of Independent Museums to fund the repair of a darnaged item in the museum's collection. The Wlltshlre Communlty Fund pmvlded a grant to fund the repalrs of walls and other structures In Arundells garden, Wiltshire And Swindon Sport provlded a grant to support the Arundells Q)mmu nily Garden Project, Page 18
TATEMENT FFI IAL MBER 2D 17. PRIOR YEAR STATEMENT OF FINANCIAL ACTXVITIES Unrestrlcted Funds 2023 Restrlcted Funds rotE71 Funds rotal Funds Jvote ZIICOME PROM.. Donatlons National Lottery Herltège Fund Grant Other Donatlons 49,951 14,540 49,951 120,097 49,951 65,642 105,557 Investments 80 80 80 Charltable actlvlties Visltor Income Visltor merchandlse Income Events Sundry income 64, 785 8,003 67,655 1,056 64,785 8,003 67,655 2,056 57,522 3,163 63,272 2,928 Other trading artivities Prlvate lettlngs 8,897 8,897 0,726 other Income Government grants Insurance claim5 TOTAL INCOME 3,167 256,033 64,491 320,524 277,326 EXPENDITURE ON.. Charltable actMtI8s 291,697 52,727 344,424 325,770 rorAL EXPENDITURE 291,697 £ 52,727 É 344,424 325,770 Net galn / (losses) on Investnlents 120 120 (598) Net income/(expenditure) Transfer5 between funds (35,544) 12,500 Jl,764 (J2,500) (23,780) (49,042) NET MOVEMENT IN FUNDS (23,044) (736) (23,780) (49,042) Total funds brought forward £ 4,135,104 £ 736 £ 4,135,840 £ 4,184,882 Total funds carrled forward £ 4,112,060 £ £ 4,212,060 £ 4,135,840 Page19