The Holfords of Westonbirt Trust Charity No. 1124066 Company No. 06035589 Company Limited by Guarantee Trustees, Report and Unaudited Accounts 31 August 2024
The Holfords of Westonblrt Trust REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Contents Page Charity Information Trustees, Annual Report Independent Examiner's Report ststement of Financial Activities Summary Income and Expenditure Account io Balance Sheet 11 ststement of Cash Flows 12 Notes to the Accounts 13
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 2024. Reference and Admbnlstrative Detalls Charity Number: Company Number: Registered Office: 1124066 06035589 The Holfords of Westonbirt Trust, Westonbirt House. Tetbury, GSoucestershire, GL8 8QG Grosvenor House, Building 23 - D Site, Kemble Airfield, Kemble, Cirencester, GL7 6BA Barclays Bank, 28 Market Place, Cirencester, GL7 2NP Accountants: Bankers: 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 collectively referred to as the Trustees. The trustees serving during the year 2023-24 were as follows: Mrs Sophie Scruton Chairman Mrs Annabella Scott OBE Vice Chair Mrs Natasha Dangerfield Headmistress and CEO Mr Marcus Galea Mr Simon Tomlinson Mr Charles Ralph Mrs Angela Potter Mr Richard Boggis Rolfe OBE Resigned 13 September 2023 Mr Ross Sharpe Mrs Belinda Bradley Appointed 23 November 2023
The Holfords of Westonbirt Trust TRUSTEES, ANNUAL REPORT Structure, Governance and Management vernin Doc ment The Holfords of Westonbirt Trust is a charitable company limited by guarantee, government by its Memorandum and Articles of Association dated 21 December 2006 and registered with the Charity Commission. (Charity Registered Number 11240661 ointment of Trustees The Articles of Association stste that the maximum and minimum number of Trustees may be amended by the Charity at an Annual General Meeting 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 retires by rotation each year but may be re-elected Trustees. Any new Trustee is given all relevant documents (including the Memorandum and Articles of Association and the most recent Annual Report and Accounts). Trustees are referred to Charity Commission and other relevant guidance about the responsibilities under charity and company law. Or anisation The Board of Trustees administers the charity. The Board holds plenary meetings three times a year. Committees are formed to deal with particular events or needs as required. Currently these are: The Executive Committee The Garden Committee Fundraising The day-today activities of the Trust at Westonbirt are managed by the Heritage Officer, whose role is to implement and co-ordinate the development activities of the Holfords of Westonbirt Trust, with oversight from the Headmistress. Activity and decisions required are reported with regularity to the Executive Committee. Related Parties The Charity has a close relationship with Westonbirt School and has held a lease on the gardens from the School since the Trust's inception. The School was sold to Wishford Schools Ltd in June 2018 and the leases on the garden remain with HO, with a reversion to Wishford Schools. The Trustees manage risks to the Charity by reviewing annually the risks the Charity may face, and by esLiblishing procedures to lessen the identified 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 times.
The Holfords of Westonbirt Trust TRUSTEES, ANNUAL REPORT ectives an ivitie The objectives of the Charity are: To protert and preserye for the benefit of the public and the nation, Westonbirt House and Gardens and the Eststes previously in the ownership of the Holford family in the County of Gloucestershire and the Holford Heritsge associated therewith. The Trust continues to work within its guiding principles which are: The Trust will work to ensure that the various, separate aspects of Westonbirt today- the house, the gardens, the estates and the Arboretum- are considered as a whole, the owners working in partnership whenever possible to respect the Holfords, wider vision. Westonbirt's Sustainability will depend on an ability to accommodate the changing values of the 21 century without compromising its value for future generations. The conservation, and where necessary restoration, of Westonbirt should preserve and evoke Robert Stayner Holford's original ambition to represent the most impressive skills of his dav. Westonbirt should be treated as a place of valuable cultural and educational resource- including archaeological, scientific and historical material - worthy of preservation and interpretation to the fullest Possible degree. Westonbirt should make its resources available to as wide a public as possible and the Trust will work to ensure that his is achieved through a variety of media and an increased number of open days. Conservation Works and Historic Research Building conservation works over the last 12 months have included the completion of the repairs to the chapel porch, miscellaneous stone repairs in the gardens and the reinstatement of several of the missing stone louvres in the chapel bell chamber. The latter work included the installation of new anti-pigeon mesh to prevent birds nesting in the tower. The other main capital work undertaken thi5 year was phase l of the Westonbirt Centenary Tree project. This comprised the planting of 25 native trees in Senior Meadow to replace those lost over the last 100 years or so. The project also included the provision of metal tree guards and a one year maintenance regime and guarantee. The tree planting (funded by Ho) was carried out by Deeper Green Tree Services in conjunction with the school's Estates Officer, Barry Mitford. The repair and restoration works to the chapel and gardens were overseen by the Trust's Project Manager, Chris Rice. The contractor for the chapel bell chamber and other miscellaneous garden stone repairs was Adam Daybell.
The main gardens continue to mature and are nurtured by the volunteers who all seem to be wonderfully invested in maintaining the borders. We have been able to get the gardens 'wedding-ready' and 'Netflix-ready' with greater ease than in previous years thanks to this. The Coronation Rose beds, an area of the garden which we renovated during the winter of 2022, began to take shape with structure, scent and a long flowering period thanks to the addition of herbaceous plants and bulbs during 2023. We now have a border which flowers almost continuously from March to December where before there were just some straggly roses. The aquatic planting in the lake has matured and we now have many flowering waterlilies, irises and kingcups which add summer interest for visitors, and landing platforms for dragonflies and other insects. The plants in the camellia house continue to recover and thrive in the light created by the removal of the old gym building. It is quite incredible to see, year on year, how much better the Shrubs bloom there. Visitor Marketin and Promotion As always a House and Gardens promotional leaflet was produced for 2024 as our primary means of marketing. 20,000 copies of the leaflet were printed and distributed to tourist information centres and other public venues across the region. The website also continues to work well both as a means of promoting the site and for booking tickets (via Eventbritel for our open Sundays and garden tours. In addition to the website and the promotional leaflet the Heritage Officer and the Project Manager also post regularly on Facebook. This not only enables us to reach a wider audience when promoting our public events but also allows us to highlight the history of the site and the conservation works that we do. Popular posts included date stones, the chapel bell tower and the origin of the Tetbury Stepsl In April 2024 in conjunction with the school we hosted 3 very successful lecture entitled 'Beauty will save the world, by Justine Kolata along with an evening garden tour. In 2024 we held five open house and garden days and delivered numerous guided tours of the gardens. Sadly the July 2024 open house and garden had to be cancelled due to Netflix filming on the school site. As with last year we now offer monthly public guided tours during the summer months, including one free event as part of the national Heritage Open Days in September. We also continue 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 administration of all of our tours and open days. Alongside Jo our head gardener Alix Chalk continues to perform miracles in the gardens which seem to look even better every year and we also are deeply indebted to Chris Rice our project manager who guides much of the restoration work the Trust supports. This team is supported by two sets of brilliant volunteer5. 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 times during the year.
The Hollords of Westonbirt Trust ThusrEES' ANNUAL REPORT By order of the Trustee5 Mrs Sophle Scruton Chairman 20 Marth 2025
The Holfords of Westonbirt Trust Report of the Independent Examiner to the Trustee5 of the charitable company on the accounts for the year ended 31 August 2024 I report to the Trustees on my examination of the financial statements of the charitable company on pages 9 to 21 for the year ended 31 August 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective I. January 2016} as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, las amended by the Bulletin issued in February 20161, (The SORPI, published by the Charity Commission in England and Wales ICCEWI, and under the historical cost convention and the accounting policies set out on pages 13 to 16. Respective responsibilities 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 preparation of the financial statements in accordance with the Companies Art 2(NJ6, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice. applicable to smaller entities. and for being satisfied that the financial statements give a true and fair view. The Trustees consider that the audit requirement of Section 14411) of the Charitie5 Act 2011 {the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting 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 Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination. it is my responsibility to: examine the financial ststements of the charity under Section 145 of the Art; follow the applicable procedures in the Dirertions given by the Charity Commission under section 14515}Ibl of the Act. Basis of Independent Examiner's Statement and scope of work undertaken I report in respect of my examination of the charity's financial ststements carried out under 5145 of the Act. In carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145151{bl of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes the consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation 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 information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider arriving at an opinion.
The Holfords of Westonbirt Trust The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, l 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 matters set out in the statement below. I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report, l obtained written assurances from the Trustees of all material matters. Independent Examiner's Statement, Report and Opinion Subject to the limitations upon the scope of my work as detailed above, I have completed my examination and can confirm that.. The accounts of the charitable company are not required to be audited under Part 16 of the Companies Act 2006: This is a report in respect of an examination carried out under 145 of the Act and in accordance with the Directions given by the Charity Commission under section 145{5llbl of the Act which may be applicable; And that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011: the financial records do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than the requirement that the accounts give a 'true and fair, view, which is not a matter considered as part of an independent examination: have not been prepared in accordance with the methods and principles set out in the FRS 102 50RP1Statement of Recommended Prartice for Accounting and Reporting by Charities) 2015, las amended by the Bulletin issued in February 20161. (The SORPI. 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 financial statements to be reached. Signed: Timothy William Brown FCCA- Independent Examiner Chartered Certified Accountant Grosvenor House Practice Ltd Building 2A- D Site Kemble Airfield Kemble GL7 6BA This report was signed on 20 March 2025
The Holfords of Westonbirt Trust STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 August 2024 Notes Current year Current year Unrestricted Restrirted fvnds funds 2024 2024 Current year Prior Year Total funds Totsl funds 2024 2023 Income and endowments from: Donations and legacies 11,040 11,040 16,288 Other trading activities 17,322 17,322 16,288 Investments 2.992 2,992 957 Total Income 31,354 31,354 33,533 Expenditure on: Raising funds Charitable activities (85.3501 (85,3501 (92,5961 Other 16131 (6131 (6741 Total Expenditure Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) (85.9631 185,9631 (93,2701 io 16 154,609) 154,609) (59,737) 154,609) 154,609) 159,737) Other gains and losses: Net income/{expenditure) after other gains/(losses) {54,609) {54,609} 159,737) Reconciliation of funds: Total funds brought forward 166,228 88,912 255,140 314,877 Net movement in funds 34,303 188,912) (54,609) (59,7371 Total funds carried forward 2tM),531 200,531 255,140
The Holfords of Westonbirt Trust SUMMARY INCOME AND EXPENDITURE ACCOUNT For the year ended 31 August 2024 2024 2023 Income 28,362 32,576 Interest and investment income 2,992 957 Gross income for the year 31,354 33,533 Expenditure (85,808) (93,1151 Interest Payable Depreciation and charges for Impairment of fixed assets (155) {1551 Total expenditure for the year 185,963) 193,270} Net incomellexpenditurel before tax For the year (54,609) (59,737) Net income/(expenditure) for the year 54,609 59,737 io
The Holfords of Westr•nblrt Trust BALANCE SHEEr at 31 Auzust 2024 Comparry P40. 116035589 2024 2023 Flxed Assets Tangible assets Current Assets Debtors Cash at bank and In hand 12 262 417 13 20,315 181.585 201,900 {1,631) 2LX).269 200.531 18,452 245.262 263,714 18,9911 254,723 255,140 Creditors: Amount falling dve wlthln one year Net current assets 14 Total assets less current Ilablltles Credltor5: Amounts falling due after more than ¢e year The totsl net assets of the ¢harfty 200.531 255.140 The total net assets of the charlty are funded bythe funds of the th*lty, as follow Restrlrted funds Restricted Rnue funds 16 88,912 88,912 Unrestrlcted funds Unrestrirted Revenue funds {general fun(ts} 16 2IXJ,531 200,531 166,228 166.228 Reserves IDesl8nated fund5) 16 Totsl tharlty fund5 200,531 255.140 These accounts have been prepared in accordance with the speaal prowsions of Part 15 of the Companies Act 26 relating to srnall companies. For the year ended 31 August 2024 the company was entided to exemption under section 477 of the Companie5 Art 2006 latingtO small wmpanies. The members have not required the company to obtaln an audit in accordance with section 476 of the Companles Art 2006. The directors acknowledge their responsibiltties for complying wlth the requirements of the Companies Act 2006 with respect to accounting records and the prepardtion of accounts. Approved by the board on 20 March 2025 And signed on its behalf by.. Mrs Sophie Scruton Chairman li
The Holfords of Westonblrt Trust STATEMENT OF CASH FLOWS For the year ended 31 August 2024 2024 2023 Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities (54,609} 159,737) Adjustments for: Dividends, interest and rents from investments Depreciation of property, plant and equipment Decrease/{increase) in trade and other receivables Increase/ldecreasel in trade and other payables (2,992) 155 1957) 154 17,499) 11,1271 {1,594) {7,629) Net cash provided by/{used in) operating artivities 166,6691 {69,1661 Cash flows from investing activities Dividends, interest and rent5 from investments Purchases of property, plant and equipment 2,992 957 Net cash from investing activities 2,992 957 Net cash from financing activities Net increase/ldecrease) in cash and cash equivalents 163,6771 168,2091 Cash and cash equivalents at the beginning of the year 245,262 313,471 Cash and cash equivalents at the end of the year 181,585 245,262 Components of cash and cash equivalents Cash and bank balances 181,585 245,262 181,585 245,262 12
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS For the year ended 31 August 2024 l. Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financia l Reporting Standard applicable in the UK and Republic of I reland IFRS 102) (effective l January 20151- (Charities SORP {FRS 102}}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market val ues. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restritted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Where income has related expenditure the income and related expenditure is reported gross in the SOFA. Voluntary income received by way of grants, donations and gifts is included in the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on donations and gifts Income from tax reclaims is included in the SOFA at the same time as the gift/donation to which it relates. These are only included in income Iwith an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. The value of any volunteer help received is not included in the accounts. This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the end of the year. This includes any gain or loss on the sale of investments. Income with related expenditure Donations and legacies Donated services and facilities Volunteer help Investment income Gains/llosses} on revaluation of fixed assets G3ins/llosses) on investment assets 13
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS Expenditure Recognition 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. These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs. 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. These include those costs assOC13ted with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic rnanagement of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Expenditure on raising funds Expenditure on charitable activities Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Freehold investment property Investment properties are revalued annually and any surplus or deficit is dealt with through the Statement of Financial Activities. No depreciation is provided in respect of investment properties. This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view. Intangible fixed assets and amortisation Intangible fixed assets {including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation 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 settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 14
The Holfords of Westonbirt Trust NOTE5 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 maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts 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 transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction 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 substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception 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 obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation 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 attributable 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. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction 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 contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions 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 Activities- prior year Unrestricted funds Restricted funds 2023 Total funds 2023 2023 Income and endowments from: Donations and Legacies Other trading activities Investments 16,288 16,288 16,288 957 16,288 957 Total Income 33,533 33,533 Expenditure on: Raising f unds Charitable activities Other Total expenditure 92,596 674 92,596 674 93,270 93,270 Net income/(expenditure) for the year Transfer between funds Net incomel{expenditure) before other gainslllosses) (59,7371 159,7371 (59,737) 159,737) Other gains and losses: Net movement in funds (59,7371 159,737} Reconciliation of fund5 Total funds brought forward Total funds carried forward 225,965 166,228 88,912 88,912 314,877 255,140 16
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS 4. Income from donations and legacies Unrestricted funds 2024 Restricted funds Total funds Total funds 2024 2024 2023 Donations Totsl Donations and Legacies 11,040 11,040 11,040 11,040 16,288 16,288 S. Income from other trading activities Unrestricted Total funds funds 2024 Total funds 2024 2023 Visits to the house and gardens Hire of gardens 7,322 10,000 7,322 10,000 6,288 10,000 Total 17,322 17,322 16,288 6. Income from investments Unrestricted Totsl funds funds 2024 Totsl funds 2024 2023 Bank interest receivable 2,992 2,992 957 Total 2,992 2,992 957 7. Expenditure on raising funds UnstriCted funds 2024 Restricted funds 2024 Total funds Total funds 2024 2023 Costs of generating voluntary income Donations Total 17
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS 8. Expenditure on charitable artivities Unrestricted Restricted funds 2024 Total funds Total funds funds 2024 2024 2023 Expenditure on charitable activities Conservation, education and research Support costs- landscaping and planting Support costs- administrative overheads Governance costs Audit and accountancy fees 13,979 63,450 3,801 13,979 63,450 3,801 69,565 14,310 4,862 4,120 4,120 3,859 Total 85,350 85,350 92,596 9. Other expenditure Unrestricted funds 2024 Total funds Totsl funds 2024 2024 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative cost5 155 155 458 155 519 458 Total 613 613 674 10. Net income/(expenditure) before transfers 2024 2023 This is stated after charging: Depreciation of owned fixed assets 154,609} (59,7371 11. Staff Costs No employee received emoluments in exce55 of £60,000. 18
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS 12. Tangible fixed assets Heritage assets Fixtures, fittings and equipment Total Cost or revaluation At I September 2023 At 31 August 2024 Depreciation and impairment At I September 2023 At 31 August 2024 6,797 6,797 48,990 48,990 55,787 55,787 6,797 6,797 48,573 48,728 55,370 55,525 Net book values At 31 August 2024 At 31 August 2023 262 262 417 417 13. Debtors 2024 2023 Trade debtors VAT recoverable Prepayments and accrued income 8,137 10,315 18,452 20,315 14. Creditors Amounts falling due within one year 2024 2023 Trade creditors VAT Other creditors Accruals and deferred income 1,362 269 3,359 2,876 2,756 8,991 1,631 15. Creditors Amounts falling due after more than one year 2024 2023 Other creditors 19
The Holfords of Westonbirt Trust NOTES TO THE ACCOUNTS 16. Movement in funds Incoming resources Atl (including other gains/losses) Resources Transfers At31 September 2023 expended August 2024 Restricted funds: Restricted income funds: Other Wishford Schools Lake 86,912 186.912) Heritage Lottery Fund 2,OtK) (2,000) Total 88,912 188,9121 Unrestricted funds: General funds Revaluation Reserves: 166,228 31.354 {85,963) 88,912 200,531 Total funds 255,140 31,354 (85,963} 88,912 200,531 Purposes and restrictions in relation to the funds: Restricted funds: As the Heritage Lottery Fund application has lapsed, the restricted funds have been released into the pool of unrestricted funds. 17. Analysis of net assets between funds Unrestrirted Funds Restrirted Funds Totsl Net current assets 200,531 200,531 200,531 200,531 18. Related party disclosures Controlling party The company is limited by guarantee and has no share capital, so no single party controls the companv. 20