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2023-08-31-accounts

The Holfords of Westonbirt Trust

Charity No. 1124066

Company No. 06035589

Company Limited by Guarantee

Trustees’ Report and Unaudited Accounts

31 August 2023

The Holfords of Westonbirt Trust REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

Contents

Page
Charity Informa�on 2
Trustees’ Annual Report 2
Independent Examiner’s Report 7
Statement of Financial Ac�vi�es 9
Summary Income and Expenditure Account 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Accounts 13

1

The Holfords of Westonbirt Trust TRUSTEES’ ANNUAL REPORT

The trustees are pleased to present their report together with the financial statements of the charity for the year ending 31 August 2023.

Reference and Administra�ve Details

Charity Number: 1124066 Company Number: 06035589 Registered Office: The Holfords of Westonbirt Trust, Westonbirt House. Tetbury, Gloucestershire, GL8 8QG Accountants: Grosvenor House, Building 2a - D Site, Kemble Airfield, Kemble, Cirencester, GL7 6BA Bankers: Barclays Bank, 28 Market Place, Cirencester, GL7 2NP

Directors and Trustees

The Directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collec�vely referred to as the Trustees.

The trustees serving during the year 2022-23 were as follows:

Mr Richard Boggis Rolfe OBE Chairman Mrs Annabella Sco� OBE Vice Chair Mrs Natasha Dangerfield Headmistress and CEO

Mr Marcus Galea

Mr Simon Tomlinson

Mr Charles Ralph Mrs Angela Po�er

The Hon Lady Scruton

Mr Ross Sharpe

2

The Holfords of Westonbirt Trust TRUSTEES’ ANNUAL REPORT

Structure, Governance and Management

Governing Document

The Holfords of Westonbirt Trust is a charitable company limited by guarantee, government by its Memorandum and Ar�cles of Associa�on dated 21 December 2006 and registered with the Charity Commission. (Charity Registered Number 1124066)

Appointment of Trustees

The Ar�cles of Associa�on state that the maximum and minimum number of Trustees may be amended by the Charity at an Annual General Mee�ng but unless amended the minimum shall be three and the maximum 16. It is further stated that the number of Trustees connected with Wishford Schools shall not exceed 40% of the total number. Of the nine Trustees only one, Mrs Dangerfield as Headmistress, was connected with Wishford Schools. One third of the Trustees re�res by rota�on each year but may be re-elected Trustees.

Trustee Induc�on and Training

Any new Trustee is given all relevant documents (including the Memorandum and Ar�cles of Associa�on and the most recent Annual Report and Accounts). Trustees are referred to Charity Commission and other relevant guidance about the responsibili�es under charity and company law.

Organisa�on

The Board of Trustees administers the charity. The Board holds plenary mee�ngs three �mes a year. Commi�ees are formed to deal with par�cular events or needs as required. Currently these are:

The day-today ac�vi�es of the Trust at Westonbirt are managed by the Heritage Officer, whose role is to implement and co-ordinate the development ac�vi�es of the Holfords of Westonbirt Trust, with oversight from the Headmistress. Ac�vity and decisions required are reported with regularity to the Execu�ve Commi�ee.

Related Par�es

The Charity has a close rela�onship with Westonbirt School and has held a lease on the gardens from the School since the Trust’s incep�on. The School was sold to Wishford Schools Ltd in June 2018 and the leases on the garden remain with HoWT, with a reversion to Wishford Schools.

Risk Management

The Trustees manage risks to the Charity by reviewing annually the risks the Charity may face, and by establishing procedures to lessen the iden�fied risks so as to minimise the impact on the Charity if they should materialise. A key risk for the Charity is the Safeguarding of students in the premises during periods when the House of Gardens are open for visitors. The Charity works closely with the School and their Designated Safeguarding Leads to ensure this risk is minimised at all �mes.

3

The Holfords of Westonbirt Trust TRUSTEES’ ANNUAL REPORT

Objec�ves and Ac�vi�es

The objec�ves of the Charity are:

4

The Holfords of Westonbirt Trust TRUSTEES’ ANNUAL REPORT

The 12 months between September 2022 and August 2023 have seen a new programme of conserva�on works carried out to the gardens as well as our undertaking a range ac�vi�es to extend our visitor offer.

Conserva�on Works

The bulk of the conserva�on works undertaken by the Trust this year have been funded by the anonymous gi� of £250,000 made in January 2022.

The works have included the restora�on and refurbishment of four sets historic gates around the gardens, repairing the chapel roof and Sir George Holford’s stone memorial in the lower churchyard, rebuilding the Middle Terrace retaining wall and recarving the missing parts of a decora�ve strapwork roundel in the Italian Garden.

The repair and restora�on works to the gardens con�nue to be overseen by the Trust’s Project Manager, Chris Rice. The main contractor for the stonework and gate repairs was Cro� Building and Conserva�on Ltd, whilst the Italian Garden roundel recarving was done by Adam Daybell.

Looking forward to 2023/4 we hope to work with the school to implement elements of the landscape masterplan including reopening key historic designed views and plan�ng new trees to replace the ones that have been lost over the last 100 years.

Visitor Marke�ng and Promo�on

The new website con�nues to work well both as a means of promo�ng the site and for booking �ckets (via Eventbrite) for our open Sundays and garden tours.

A House and Gardens promo�onal leaflet was also produced for 2023/4 as our one (absolutely essen�al) piece of marke�ng print. 20,000 copies of the leaflet were printed and distributed to tourist informa�on centres and other public venues across the region. In addi�on to the website and the leaflet the Heritage Officer and the Project Manager also post regularly on Facebook. This not only enables us to reach a wider audience when promo�ng our public events but also allows us to highlight the history of the site and the conserva�on works that we do.

In April 2023 in conjunc�on with the school we hosted a very successful event for the parents of current pupils to highlight the work of the Trust and encourage wider par�cipa�on. We hope to repeat this in 2024.

5

The Holfords of Westonbirt Trust TRUSTEES’ ANNUAL REPORT

House and Garden Open Days

In 2022-23 we held five open house and garden days and delivered numerous guided tours of the gardens. Sadly the September 2022 open house and garden (which incorporated the inaugural Westonbirt flower show) had to be postponed due to the death of HM Queen Elizabeth. However, the flower show was rescheduled and took place in November 2022. As with last year we now offer monthly public guided tours during the summer months, including one free event as part of the na�onal Heritage Open Days in September. We also con�nue to welcome private group tours by appointment.

Staff and Volunteers

Once again we are indebted to Jo Baker for overseeing the smooth running of the Trust and the efficient administra�on of all of our tours and open days. Alongside Jo our head gardener Alix Chalk con�nues to perform miracles in the gardens which seem to look even be�er every year.

Jo and Alix are supported by two sets of brilliant volunteers. Alix’s garden volunteers undertake a wide range of invaluable work in the gardens, whilst Jo’s guides deliver all of the tours of the house on our popular summer open Sundays and also for groups who visit at other �mes during the year.

Accountants

Grosvenor House Chartered Accountants of Kemble, Gloucestershire con�nue to be the accountants to the Charity for the following year.

By order of the Trustees

The Hon Lady Scruton Chairman

23 November 2023

6

The Holfords of Westonbirt Trust

Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 August 2023

I report to the Trustees on my examina�on of the financial statements of the charitable company on pages 9 to 21 for the year ended 31 August 2023 which have been prepared in accordance with the Chari�es Act 2011 (the Act) and with the Financial Repor�ng Standard 102, (effec�ve 1[ st ] January 2016) as modified by FRS 102 SORP (Statement of Recommended Prac�ce for Accoun�ng and Repor�ng by Chari�es) 2015, (as amended by the Bulle�n issued in February 2016), (The SORP), published by the Charity Commission in England and Wales (CCEW), and under the historical cost conven�on and the accoun�ng policies set out on pages 13 to 16.

Respec�ve responsibili�es of the Trustees and the Independent Examiner and the basis of the report

As described on pages 3-6, you, the charitable company’s Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the prepara�on of the financial statements in accordance with the Companies Act 2006, the Chari�es Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accoun�ng Prac�ce, applicable to smaller en��es, and for being sa�sfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Sec�on 144(1) of the Chari�es Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and ar�cles of the charity for the conduc�ng of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Sec�on 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examina�on.

Having sa�sfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examina�on, it is my responsibility to:

Basis of Independent Examiner’s Statement and scope of work undertaken

I report in respect of my examina�on of the charity’s financial statements carried out under s145 of the Act. In carrying out my examina�on, I have followed all the applicable Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the Act se�ng out the du�es of an independent examiner in rela�on to the conduc�ng of an independent examina�on. An independent examina�on includes a review of the accoun�ng records kept by the charitable company and of the accoun�ng systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes the considera�on of any unusual items or disclosures in the financial statements, and seeking explana�ons from you, as Trustees, concerning such ma�ers. The purpose of the examina�on is to establish as far as possible that there have been no breaches of charity legisla�on and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and informa�on supplied by the Trustees in the course of the examina�on is not subjected to audit tests or enquiries and does not cover all the ma�ers that an auditor would consider arriving at an opinion.

7

The Holfords of Westonbirt Trust

The planning and conduct of an audit goes beyond the limited assurance that an independent examina�on can provide.

Consequently, I do not express an audit opinion on the view given by the financial statements, and in par�cular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the ma�ers set out in the statement below.

I planned and performed my examina�on so as to sa�sfy myself that the objec�ves of the independent examina�on are achieved and before finalising the report, I obtained wri�en assurances from the Trustees of all material ma�ers.

Independent Examiner’s Statement, Report and Opinion

Subject to the limita�ons upon the scope of my work as detailed above, I have completed my examina�on and can confirm that:

I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Signed:

Timothy William Brown FCCA – Independent Examiner Chartered Cer�fied Accountant

Grosvenor House Avening, Priory Park Tetbury Gloucestershire GL8 8HZ

This report was signed on 23 November 2023

8

The Holfords of Westonbirt Trust STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 August 2023

Notes
Income and endowments
from:
Dona�ons and legacies
4
Other trading ac�vi�es
5
Investments
6
Total Income
Expenditure on:
Raising funds
7
Charitable ac�vi�es
8
Other
9
Total Expenditure
Net gains on investments
Net income/(expenditure)
10
Transfers between funds
16
Net income/(expenditure)
before other gains/(losses)
Other gains and losses:
Net income/(expenditure)
a�er other gains/(losses)
Reconcilia�on of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Current year
Unrestricted
funds
2023
Current year
Restricted
funds
2023
Current year
Total funds
2023
Prior Year
Total funds
2022
£
£
£
£
16,288
-
16,288
273,436
16,288
-
16,288
16,788
957
-
957
20
33,533
-
33,533
290,244
-
-
-
(6,250)
(92,596)
-
(92,596)
(62,806)
(674)
-
(674)
(490)
(93,270)
-
(93,270)
(69,546)
-
-
-
-
59,737
-
59,737
220,698
-
-
-
-
59,737
-
59,737
220,698
-
-
-
-
59,737
-
59,737
220,698
225,965
88,912
314,877
94,179
(59,737)
-
(59,737)
220,698
166,228
88,912
255,140
314,877

9

The Holfords of Westonbirt Trust SUMMARY INCOME AND EXPENDITURE ACCOUNT

For the year ended 31 August 2023

Income
Interest and investment income
Gross income for the year
Expenditure
Interest Payable
Deprecia�on and charges for
Impairment of fxed assets
Total expenditure for the year
Net income/(expenditure) before tax
For the year
Net income/(expenditure) for the year		 2023
£
32,576
957
33,533
(93,115)
-
(155)
(93,270)
(59,737)
(59,737)		 2022
£
290,225
20
290,245
(69,392)
-
(154)
(69,546)
220,699
220,699

10

The Holfords of Westonbirt Trust BALANCE SHEET

at 31 August 2023

Company No. 06035589
Notes
Fixed Assets
Tangible assets
12
Current Assets
Debtors
13
Cash at bank and in hand
Creditors:Amount falling due within one year
14
Net current assets
Total assets less current liabili�es
Creditors:Amounts falling due a�er more than one year
15
The total net assets of the charity
The total net assets of the charity are funded by the funds of
the charity, as follows:
Restricted funds
Restricted Revenue funds
16
Unrestricted funds
Unrestricted Revenue funds (general funds)
16
Reserves (Designated funds)
16
Total charity funds		 2023
£
417
18,452
245,262
263,714
(8,991)
255,140
255,140
-
255,140
88,912
88,912
166,228
166,228
-
255,140		 2022
£
572
10,953
313,471
324,996
(10,119)
314,877
314,877
-
314,877
88,912
88,912
225,965
225,965
-
314,877

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 rela�ng to small companies.

For the year ended 31 August 2023 the company was en�tled to exemp�on under sec�on 477 of the Companies Act 2006 rela�ng to small companies.

The members have not required the company to obtain an audit in accordance with sec�on 476 of the Companies Act 2006.

The directors acknowledge their responsibili�es for complying with the requirements of the Companies Act 2006 with respect to accoun�ng records and the prepara�on of accounts.

Approved by the board on 23 November 2023

And signed on its behalf by:

The Hon Lady Scruton

Chairman

11

The Holfords of Westonbirt Trust STATEMENT OF CASH FLOWS

For the year ended 31 August 2023

Cash fows from opera�ng ac�vi�es
Net income/(expenditure) per Statement of Financial Ac�vi�es
Adjustments for:
Dividends, interest and rents from investments
Deprecia�on of property, plant and equipment
Decrease/(increase) in trade and other receivables
Increase/(decrease) in trade and other payables
Net cash provided by/(used in) opera�ng ac�vi�es
Cash fows from inves�ng ac�vi�es
Dividends, interest and rents from investments
Purchases of property, plant and equipment
Net cash from inves�ng ac�vi�es
Net cash from fnancing ac�vi�es
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2023
£
(59,737)
(957)
154
(7,499)
(1,127)
(69,166)
957
-
957
-
(68,209)
313,471
245,262
245,262
245,262		 2022
£
220,699
(20)
154
8,364
(45,176)
184,021
20
-
20
-
184,041
129,430
313,471
313,471
313,471

12

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

For the year ended 31 August 2023

1. Accoun�ng policies

Basis of prepara�on

The financial statements have been prepared in accordance with Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2015) - (Chari�es SORP (FRS 102)), the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accoun�ng or to previous accounts

There has been no change to the accoun�ng policies (valua�on rules and method of accoun�ng) since last year and no changes have been made to accounts for previous years.

Fund accoun�ng

Fund accoun�ng
Unrestricted funds These are available for use at the discre�on of the trustees
in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for
par�cular purposes.
Revalua�on funds These are unrestricted funds which include a revalua�on
reserve represen�ng the restatement of investment assets
at their market values.
Restricted funds These are available for use subject to restric�ons imposed
by the donor or through terms of an appeal.
Income
Recogni�on of income Income is included in the Statement of Financial Ac�vi�es
(SoFA) when the charity becomes en�tled to, and virtually
certain to receive, the income and the amount of the
income can be measured with sufcient reliability.
Income with related expenditure Where income has related expenditure the income and
related expenditure is reported gross in the SoFA.
Dona�ons and legacies Voluntary income received by way of grants, dona�ons and
gi�s is included in the SoFA when receivable and only when
the Charity has uncondi�onal en�tlement to the income.
Tax reclaims on dona�ons and gi�s Income from tax reclaims is included in the SoFA at the same
�me as the gi�/dona�on to which it relates.
Donated services and facili�es These are only included in income (with an equivalent
amount in expenditure) where the beneft to the Charity is
reasonably quan�fable, measurable and material.
Volunteer help The value of any volunteer help received is not included in
the accounts.
Investment income This is included in the accounts when receivable.
Gains/(losses) on revalua�on of This includes any gain or loss resul�ng from revaluing
fxed assets investments to market value at the end of the year.
Gains/(losses) on investment This includes any gain or loss on the sale of investments.
assets

13

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

Expenditure

Expenditure
Recogni�on of expenditure Expenditure is recognised on an accruals basis. Expenditure
includes any VAT which cannot be fully recovered and is
reported as part of the expenditure to which it relates.
Expenditure on raising funds These comprise the costs associated with a�rac�ng
voluntary income, fundraising trading costs and investment
management costs.
Expenditure on charitable These comprise the costs incurred by the Charity in
ac�vi�es the delivery of its ac�vi�es and services in the furtherance
of its objects, including the making of grants and governance
costs.
Grants payable All grant expenditure is accounted for on an actual paid basis
plus an accrual for grants that have been approved by the
trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with mee�ng the
cons�tu�onal and statutory requirements of the Charity,
including any audit/independent examina�on fees, costs
linked to the strategic management of the Charity, together
with a share of other administra�on costs.
Other expenditure These are support costs not allocated to a par�cular ac�vity.

Taxa�on

The charity is exempt from corpora�on tax on its charitable ac�vi�es.

Freehold investment property

Investment proper�es are revalued annually and any surplus or deficit is dealt with through the Statement of Financial Ac�vi�es. No deprecia�on is provided in respect of investment proper�es. This treatment conflicts with the requirements of the Companies Act 2006 that all proper�es should be depreciated. The directors consider that, because these proper�es are not held for consump�on, but for their investment poten�al it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view.

Intangible fixed assets and amor�sa�on

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amor�sa�on and impairment losses.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the se�lement amount due a�er any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

14

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturi�es of three months or less and bank overdra�s. In the statement of financial posi�on, bank overdra�s are shown within borrowings or current liabili�es. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdra�s that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transac�on price. Other creditors and provisions are recognised where the charity has a present obliga�on resul�ng from a past event that will probably result in the transfer of funds to a third party and the amount due to se�le the obliga�on can be measured or es�mated reliably. Creditors and provisions are normally recognised at their se�lement amount a�er allowing for any trade discounts due.

Research and development

Expenditure on research and development is wri�en off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabili�es denominated in currencies other than the func�onal currency of the charity are translated at the rates of exchange prevailing at the end of the repor�ng period. Transac�ons in currencies other than the func�onal currency of the charity are recorded at the rate of exchange on the date that the transac�on occurred.

All exchange differences are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substan�ally all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substan�ally all the risks and rewards of ownership to charity are classified as opera�ng leases.

Assets held under finance leases are ini�ally recognised as assets of the charity at their fair value at the incep�on of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obliga�on.

Lease payments are appor�oned between finance expenses and reduc�on of the lease obliga�on so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly a�ributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Opera�ng lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incen�ves are received to enter into opera�ng leases, such incen�ves are recognised as a liability. The aggregate benefit of incen�ves is recognised as a reduc�on of rental expense on a straight-line basis.

15

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

Pension costs

The charity operates a defined contribu�on plan for its employees. A defined contribu�on plan is a pension plan under which the company pays fixed contribu�ons into a separate en�ty. Once the contribu�ons have been paid the company has no further payments obliga�ons. The

contribu�ons are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.

The assets of the plan are held separately from the company in independently administered funds.

2. Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3. Statement of Financial Ac�vi�es – prior year

Income and endowments from:
Dona�ons and Legacies
Other trading ac�vi�es
Investments
Total Income
Expenditure on:
Raising funds
Charitable ac�vi�es
Other
Total expenditure
Net income/(expenditure) for the year
Transfer between funds
Net income/(expenditure) before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconcilia�on of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total funds
funds
funds
2022
2022
2022
£
£
£
273,436
-
273,439
16,789
-
16,789
20
-
20
290,245
-
290,248
6,250
-
6,250
62,807
-
62,807
490
-
490
69,547
-
69,547
220,698
-
-
-
220,698
220,698
-
220,698
-
-
220,698
-
220,698
94,179
-
94,179
314,877
-
314,877

16

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

4. Income from dona�ons and legacies

Dona�ons
Total Dona�ons and Legacies
5. Income from other trading ac�vi�es
Visits to the house and gardens
Hire of gardens
Total
6. Income from investments
Bank interest receivable
Total
7. Expenditure on raising funds
Costs of genera�ng voluntary income
Dona�ons
Total		 Unrestricted
funds
2023
£
16,288		 Restricted
funds
Total funds
Total funds
2023
2023
2022
£
£
£
-
16,288
273,436
16,288 -
16,288
273,436
Unrestricted
funds
Total funds
Total funds
2023
2023
2022
£
£
£
6,288
6,288
6,789
10,000
10,000
10,000
16,288
16,288
16,789
Unrestricted
funds
Total funds
Total funds
2023
2023
2022
£
£
£
957
957
20
957
957
20
Unrestricted
funds
Restricted
funds
Total funds
Total funds
2023
2023
2023
2022
£
£
£
£
-
-
-
6,250		 Unrestricted
funds
Total funds
Total funds
2023
2023
2022
£
£
£
6,288
6,288
6,789
10,000
10,000
10,000
16,288
16,288
16,789
Unrestricted
funds
Total funds
Total funds
2023
2023
2022
£
£
£
957
957
20
957
957
20
-
-
-
6,250

17

The Holfords of Westonbirt Trust

NOTES TO THE ACCOUNTS

8. Expenditure on charitable ac�vi�es

Unrestricted Restricted Total Total
funds funds funds funds
2023 2023 2023 2022
£ £ £ £
Expenditure on charitable ac�vi�es
Conserva�on, educa�on and research 69,565 - 69,565 47,472
Support costs – landscaping and plan�ng 14,310 - 14,310 9,439
Support costs – administra�ve overheads 4,862 - 4,862 2,115
Governance costs
Audit and accountancy fees 3,859 - 3,859 3,780
Total 92,596 - 92,596 62,806
9. Other expenditure
Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Amor�sa�on, deprecia�on, impairment, proft/loss
on disposal of fxed assets 155 155 154
General administra�ve costs 519 519 336
Total 674 674 490
10. Net income/(expenditure) before transfers
2023 2022
£ £
This is stated a�er charging:
Deprecia�on of owned fxed assets (59,737) 220,698

11. Staff Costs

No employee received emoluments in excess of £60,000.

18

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

12. Tangible fixed assets

Cost or revalua�on
At 1 September 2022
At 31 August 2023
Deprecia�on and impairment
At 1 September 2022
At 31 August 2023
Net book values
At 31 August 2023
At 31 August 2022
13. Debtors
Trade debtors
VAT recoverable
Prepayments and accrued income
14. Creditors
Amounts falling due within one year
Trade creditors
VAT
Other creditors
Accruals and deferred income
15. Creditors
Amounts falling due a�er more than one year
Other creditors		 Heritage
assets
Fixtures,
f�ngs and
equipment
Total
£
£
£
6,797
48,990
55,787		 Heritage
assets
Fixtures,
f�ngs and
equipment
Total
£
£
£
6,797
48,990
55,787
6,797
48,990
55,787
6,797
48,418
55,215
6,797
48,573
55,370
-
417
417
-
572
572
2023
2022
£
£
-
638
8,137
-
10,315
10,315
18,452
10.953
2023
2022
£
£
3,359
-
2,636
282
2,876
2,876
2,756
4,325
8,991
10,119
2023
2022
£
£
-
-
-
-

19

The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS

16. Movement in funds

Restricted funds:
Restricted income funds:
Other
Wishford Schools
Lake
Heritage Lo�ery Fund
Pilgrim Trust
PF Charitable Trust
Historic House Founda�on
Honourable Company of
Gloucestershire Charitable
Trust
Stanley Smith (UK)
Hor�cultural Trust
Total
Unrestricted funds:
General funds
Revalua�on Reserves:
Total funds		 Incoming
resources
At 1
September
2022
(including
other
gains/losses)
Resources
expended
Transfers
At 31
August
2023
£
£
£
£
£
-
-
86,912
-
86,912
-
-
-
2,000
-
2,000
-
-
-
-
-
-
-
-
-
-
88,912
-
-
-
88,912
225,965
33,533
(93,270)
-
166,228
-
-
-
-
314,877
33,533
(93,270)
-
255,140

Purposes and restric�ons in rela�on to the funds: Restricted funds

Wishford Schools

Dona�on given for either the delivery of the HLF funded project, or if the bid is not successful for purposes in furtherance of the charitable objec�ves.

Heritage Lo�ery Fund

Heritage Lo�ery Fund represents dona�ons given solely for work towards a three-year development project to transform access and restore the built features of Westonbirt Gardens.

20

17. Analysis of net assets between funds

Net current assets Unrestricted
Funds
Restricted
Funds
Total
£
£
£
166,228
88,912
225,140
166,228
88,912
225,140

18. Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital, so no single party controls the company.

21