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2023-03-31-accounts

Trustees'
annual
report		 (including strategic report)
Officers and professional
advisers
Review ofachievements
and plans		 for the future
Financial
review
Structure,
governance		 and management
Financial statements 13
Independent
auditor's		 report 14
Consolidated
statement		 offinancial activities 18
Balance sheets 19
Consolidated
cashflow		 statement 20
Notes to the financial statements 21

Total funds Total funds
yearended 15months
Notes Unrestricted Restricted 31 March to 31 March
funds funds 2023 2022
E 6 E 8
INCOME FROM:
Donations 3 1,420,976 150,000 1,570,976 14,009,094
Charitable
activities		 4 1,074,227 1,074,227 1,121,063
Investments
-bank interest		 8,025 1,652 9,677 2,642
Trading activities 5 1,306,285 1,306,285 105,185
TOTAL INCOME 2,735,286 1,225,879 3,961,165 15,237,984
EXPENDITURE ON:
Raising funds 6 (2,193) (2,193) (16,754)
Charitable
activities		 7 (1,703,354) (1,546,328) (3,249,682) (2,422,723)
TOTAL EXPENDITURE (1,705,547) (1,546,328) (3,251,875) (2,439,477)
NET INCOME FOR THE
YEAR/PERIOD
BEING NET		 9 1,029,739 (320,449) 709,290 12,798,507
MOVEMENT
IN FUNDS
Total funds brought forward 267,574,814 493,681 268,068,495 255,269,988
Total funds carried forward 22/23 268,604,553 173,232 268,777,785 268,068,495

At 31 Marc h 2023
2023 2022
Notes Group Charity Group Charity
f f
Fixed assets
Tangible assets 12 916,861 917,295 956,495 956,929
Investments
—social		 investments 13 271,306,246 279,000,421 271,256,246 278,950,421
Investments —investment
property		 14 1,130,000 1,130,000 1,130,000 1,130,000
Investments —subsidiary
undertakings		 15 120,000 120,000
273,353,107 281,167,716 273,342,741 281,157,350
Current assets
Debtors: amounts
within one year		 falling due 16 276,719 45,604 2,520,641 2,476,830
Cash at bank and in hand 17 8,095,898 8,044,624 6,473,925 6,394,718
8,372,617 8,090,228 8,994,566 8,871,548
Creditors: amounts
within one year		 falling due 18 (2,041,917) (1,876,841) (1,484,273) (1,481,254)
NET CURRENT ASSETS 6,330,700 6,213,387 7,510,293 7,390,294
Creditors: amounts
after one year		 falling due 19 (10,906,022) (10,906,022) (12,784,539) (12,784,539)
NET ASSETS 268,777,785 276,475,081 268,068,495 275,763,105
FUNDS
Unrestricted
funds
General funds 2,251,446 2,134,133 4,244,932 4,124,933
Designated
funds		 266,353,107 274,167,716 263,329,882 271,144,491
Total unrestricted funds 22 268,604,553 276,301,849 267,574,814 275,269,424
Restricted funds 23 173,232 173,232 493,681 493,681
TOTAL FUNDS 268,777,785 276,475,081 268,068,495 275,763,105

Total funds
Notes Unrestricted Restricted year ended Total funds
31 March
funds funds 2023 15months to
31 March 2022
E E
Net cash
operating		 flow from
activities		 21 4,974,736 (307,590) 4,667,146 10,411,845
Cash flows from investing
activities
Interest received 9,677 9,677 2,642
Purchase ofvehicles,
plant
&equipment		 (4,850) (4,850)
Purchase
investment		 of social
related
property		 (50,000) (50,000) (281,237)
Net cash
activities		 used in investing (45,173) (45,173) (278,595)
Cash flows from financing
activities
Cash oufflows from loans
repaid		 (3,000,000) (3,000,000) (13,000,000)
Net cash used in financing (3,000,000) (3,000,000) (13,000,000)
activities
Net increase/(decrease)
in
cash and cash equivalents		 1,929,563 (307,590) 1,621,973 (2,866,750)
Cash and cash equivalents
at beginning
ofyear		 5,993,103 480,822 6,473,925 9,340,675
Cash and
at end of		 cash equivalents
year		 173,232 8,095,898 6,473,925

Ye ar ended 31 March 2023
3. ANALYSIS OF INCOME FROM DONATIONS
Year ended 31 March 2023 Unrestricted
funds		 Restncted
funds		 Total funds
E 8 8
Donations 1,117,379 150,000 1,267,379
Donated services 303,597 303,597
1,420,976 150,000 1,570,976
15months to 31 March Unrestricted Restricted
2022 funds funds Totalfunds
K
Donations 13,499,555 150,000 13,649,555
Donated services 359,539 359,539
13,859,094 150,000 14,009,094
ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES
Year ended 31 March 2023 Unrestricted
funds		 Restricted
funds		 Total funds
8 8 8
Life Cycle Charge 657,469 657,469
Estate Service Charge 416,758 416,758
1,074,227 1,074,227
15months to 31 March Unrestricted Restricted
2022 funds funds Total funds
8
Life Cycle Charge 635,083 635,083
Estate Service Charge 485,980 485,980
1,121,063 1,121,063

ANALYSIS OF INCOME FROM TRADIN ANALYSIS OF INCOME FROM TRADIN G ACTIVITIES
Year ended 31 March 2023 Unrestricted
fundsf		 Restricted
fundsf		 Total funds
Turnover 1,250,702 1,250,702
Rental 8 parkland income 55,583 55,583
1,306,285 1,306,285
15months to 31 March Unrestricted Restricted
2022 funds funds Total funds
8 L 8
Turnover 31,524 31,524
Rental & parkland income 73,661 73,661
105,185 105,185

the Defen ce E stablishment .
Yearended 15months to
31 March 31 March
2023 2022
Z 8
Advertising and awareness raising costs 165
Support costs (see note 8) 22 7,660
Other fundraising costs 2,171 8,929
2,193 16,754

Year ended 15months to
31 March 31 March
2023 2022
6
Direct charitable costs 3,154,972 2,144,960
Support costs (see note 8) 94,710 277,763
3,249,682 2,422,723

ANALYSIS OF SUPPORT CO ANALYSIS OF SUPPORT CO STS
Year ended 31 March 2023 Raising
funds		 Direct
charitable		 Total Basis ofallocation
s s
Governance 22 15,280 15,302 In line with activity
Finance 41,305 41,305 Allocated on time
Office, secretarial and HR 38,125 38,125 Allocated
on time
22 94,710 94,732
15months to 31
2022		 March Raising
funds		 Direct
charitable		 Total Basis ofallocation
f:
Governance 563 65,042 65,605 In line with activity
Finance 2,497 123,412 125,909 Allocated on time
Office, secretarial and HR 4,600 89,309 93,909 Allocated on time
7,660 277,763 285,423

Net inc ome is state d a fter ch arging:
Year 15months
ended 31 to 31
March March
2023 2022
E E
Depreciation
oftangible		 fixed assets —owned 76,592
Auditor's remuneration:
Fees payable to the
financial
statements		 Charity's auditor for the audit ofthe Charity's annual 11,940 12,600
Fees payable to the
audit ofthe Charity's		 Charity's
subsidiary		 auditor for other services to the Group: the 2,850 3,000
The averag e
monthly
number		 ofemployees
was:
Group and Charity Yearended
31 March
2023		 15months
to 31
March
2022
No. No.
Charitable activities 2
Support
Their aggregate
remuneration		 comprised:
Year 15months
Group and Charity ended 31
March		 to 31
March
2023 2022
E 5
Wages and salaries 92,183 440,616
Social security costs 6,807 42,073
98,990 482,689


contributions
and employers'
Nl, were in excess o		 f660,000was:
Year 15months
ended 31 to 31
March March
2023 2022
No. No.
860,000 - 670,000 2
680,000 - 690,000
6160,000 - 6170,000

TAX ON (LOSS ) / PRO FIT OF TRADIN G SUBSIDIARY
Year
ended 31 15months
March to 31 March
2023 2022
6
UK corporation tax at 19'%%d (15months ended 31 March 2022:
19'%%d) based on (loss) / profit for the year / period

tax of19%(15months
end		 ed 31 March 2022 :19%).The differences are explained
below:
Year
ended 15
31 months to
March 31 March
2023f 2021
E
(Loss) / profit before tax (2,688) 5,441
Current tax charge for the year / period:
(Loss) / profit at standard rate of corporation tax of19%(15months
ended 31 March 2022: 19%) (511) 1,034
Unprovided
deferred tax		 511
Tax relief for gift aid donation (1,034)

TANGIBLE FIXEDASSETS
Vehicles I
Group Freehold
land		 Plant and
and buildings Equipment Total
E E E
Cost
At 1 April 2022 1,034,532 203,822 1,238,354
Additions 4,850 4,850
At 31 March 2023 1,034,532 208,672 1,243,204
Depreciation
At 1 April 2022 99,845 182,014 281,859
Charge for year 23,493 20,991 44,484
At 31 March 2023 123,338 203,005 326,343
Net book value
At 31 March 2023 911,194 5,667 916,861
At 31 March 2022 934,687 21,808 956,495
Charity Freehold
land
snd buildings		 Vehicles I
Plant and
Equipment		 Total
Cost E E
At 1 April 2022 1,034,966 148,311 1,183,277
Additions 4,850 4,850
At 31 March 2023 1,034,966 153,161 1,188,127
Depreciation
At 1 April 2022 99,845 126,503 226,348
Charge for year 23,493 20,991 44,484
At 31 March 2023 123,338 147,494 270,832
Net book value
31 March 2023 911,628 5,667 917,295
31 March 2022 935,121 21,808 956,929

Stanford
Hall
Group Defence Rehabilitation
Establishment Estate Total
E E E
Cost
At 1 April 2022 266,935,076 4,321,170 271,256,246
Additions 50,000 50,000
At 31 March 2023 266,935,076 4,371,170 271,306,246
Depreciation
At 1 April 2022 and at
31 March 2023
Net book value
31 March 2023 266,935,076 4,371,170 271,306,246
31 March 2022 266,935,076 4,321,170 271,256,246
Stanford
Hall
Charity Defence
Establishment		 Rehabilitation
Estate		 Total
Cost E E E
At 1 April 2022 274,601,489 4,348,932 278,950,421
Additions 50,000 50,000
At 31 March 2023 274,601,489 4,398,932 279,000,421
Depreciation
At 1 April 2022 and at
31 March 2023
Net book value
31 March 2023 274,601,489 4,398,932 279,000,421
31 March 2022 274,601,489 4,348,932 278,950,421

Strutt &Parker. Trustees deem that investment
property
March 2023 and the properties
therefore
continue to be		 Strutt &Parker. Trustees deem that investment
property
March 2023 and the properties
therefore
continue to be		 values
will not have changed
materi
carried at the valuation
amounts.		 ally
by 31
SUBSIDIARY UNDERTAKING
2023 2022
Charity E E
Subsidiary undertaking 120,000 120,000
ended 3 1 March 2023 are shown
below.
Year 15months
ended 31 to
March 31 March
Profit and loss account 2023 2022
E E
Turnover 1,254,317 321,198
Cost ofsales (1,254,212) (312,761)
Gross profit 105 8,437
Administrative
expenses		 (2,856) (3,000)
Operating (loss) / profit (2,751) 5,437
Net interest receivable 63 4
Amounts donated
to the Charity		 (5,441)
Retained (loss) / profit (2,688)
Balance brought forward
Balance carried forward (2,688)

Balance sheet as at 31 March 2023:
2023 2022
E
Current assets 287,721 169,464
Creditors: Amounts falling due within one year (170,409) (49,464)
Net assets 117,312 120,000
Share Capital 120,000 120,000
Profit and loss account (2,688)
Shareholder's funds 117,312 120,000

2023 2023 2022
Group Charity Group Charity
5 E E
Prepayments
and accrued		 income 268,960 33,683 2,517,124 2,427,541
Taxation and social security 7,759 11,921 3,517 2,843
Amount
owed		 by subsidiary undertaking 46,446
276,719 45,604 2,520,641 2,476,830
Amount
owed		 by subsidiary undertaking is repayable on demand
with no interest being		 charged on the
balance.
RESTRICTIONS ON CASH AND CASH EQUIVALENTS
Total cash and cash equivalents included cash amounting to65.7m (31 March 2022:f4.2m) which was
held
in restricted
accounts		 under the lease with the MOD to be spent on maintenance ofthe Defence
facility and the Stanford
Hall Rehabilitation
Estate.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
Group Charity Group Charity
E E E E
Trade creditors 176,906 14,820 7,461 7,443
Accruals and deferred
income		 645,865 641,704 405,238 402,237
Life Cycle Charge creditor 1,215,870 1,215,870 1,071,574 1,071,574
Taxation and social security 3,276 3,276
Amount
owed
undertaking		 to subsidiary 1,171
2,041,917 1,876,841 1,484,273 1,481,254

CREDITORS: AMOUNTS
FA		 LLING DUE AFTER MORE THAN ONE Y MORE THAN ONE Y EAR
2023 2022
Group Charity Group Charity
E F. E
Other loans: repayable
between
one and five years		 7,000,000 7,000,000 10,000,000 10,000,000
Life Cycle Charge creditor 3,906,022 3,906,022 2,784,539 2,784,539
10,906,022 10,906,022 12,784,539 12,784,539
Creditors
falling due after more than one year includes		 one loan (2022:one loan), which
is unsecured
(2022:unsecured).
This loan		 is interest free, non-recourse
and for a period to 6July 2027.
The Life Cycle Charge
creditor represents		 restricted funds
held
by the		 Charity to be applied against
uture expenditure,
estimated		 to be falling due after more than one year, in relation to the Defence facility
as required
under the lease with the MOD.
COMPARATIVE
CONSOLIDATED		 STATEMENT OF FINANCIAL ACTIVITIES
Note Unrestricted
funds		 Restricted
funds		 Total funds 15
months ended
31 March 2022
INCOME FROM:
Donations 13,859,094 150,000 14,009,094
Charitable
activities		 1,121,063 1,121,063
Investment
income - bank interest		 2,597 45 2,642
Other trading
activities		 105,185 105,185
TOTAL INCOME 13,966,876 1,271,108 15,237,984
EXPENDITURE ON:
Raising funds (16,754) (16,754)
Charitable
activities		 (1,005,820) (1,416,903) (2,422,723)
TOTAL EXPENDITURE (1,022,574) (1,416,903) (2,439,477)
Net income for the period 12,944,302 (145,795) 12,798,507
Transfer between
funds
NET MOVEIIIIENT
IN FUNDS		 12,944,302 (145,795) 12,798,507
Total funds
brought forward		 254,630,512 639,476 255,269,988
TOTAL FUNDS CARRIED FORWARD 267,574,814 493,681 268,068,495

Reconciliation
of		 ne t i ncome t o cas h generate d
by operations		 :
Year ended 31
March 2023		 15months
ended 31
March 2022
8
Net income for the year / period 709,290 12,798,507
Adjustments
for:
Interest receivable (9,677) (2,642)
Depreciation 44,484 76,592
Operating
cashflow before movement		 in working capital 744,097 12,872,457
Decrease
/ (increase)		 in debtors 2,235,597 (2,147,414)
Increase
/ (decrease)		 in creditors 1,687,452 (313,198)
Cash generated by operating activities 4,667,146 10,411,845
Restricted funds (307,590) (124,364)
Unrestricted
funds		 4,974,736 10,536,209
Cash generated by operating activities 4,667,146 10,411,845

2023
At At
Group 1 April 31 March
2022 Income Expenditure Transfers 2023
f E E
General reserves 4,244,932 2,735,286 (1,673,922) (3,054,850) 2,251,446
Designated
Fixed assets		 fund: 263,329,882 (31,625) 3,054,850 266,353,107
Total unrestricted funds 267,574,814 2,735,286 (1,705,547) 268,604,553
At At
Charity 1 April 31 March
2022
E		 Income
E		 Expendituref Transfers
f.		 2023
E
General reserves 4,124,933 1,484,521 (420,471) (3,054,850) 2,134,133
Designated
Fixed assets		 funds: 271,144,491 (31,625) 3,054,850 274,167,716
Total unrestricted funds 275,269,424 1,484,521 (452,096) 276,301,849
Analysis oftransfers:
Group Charity
f E
Transfer to designated fund (3,054,850) (3,054,850)
(3,054,850) (3,054,850)

2022
At 1 At
Group January 31 March
2021 fncome Expenditure Transfers 2022
E E F
General reserves 4,526,706 13,966,876 (967,413) (13,281,237) 4,244,932
Designated
Fixed assets		 fund: 250,103,806 (55,161) 13,281,237 263,329,882
Total unrestricted funds 254,630,512 13,966,876 (1,022,574) 267,574,814
At 1 At
Charity January 31 March
2021
E		 Income
E		 Expenditure Transfers
E		 2022f
General reserves 4,406,707 13,940,790 (932,890) (13,289,674) 4,124,933
Designated
Fixed assets		 funds: 257,909,978 (55,161) 13,289,674 271,144,491
Total unrestricted funds 262,316,685 13,940,790 (988,051) 275,269,424
Analysis oftransfers:
Group Charity
6 6
Transfer to designated fund (13,281,237) (13,289,674)
(13,281,237) (13,289,674)

2023
At 31
Group and Charity At 1 April March
2022 Income Expenditure 2023
E F E
DNRC Programme 480,822 150,000 (457,590) 173,232
Donated fixed asset 12,859 (12,859)
Life Cycle Charge 657,469 (657,469)
Estate Service Charge 418,410 (418,410)
Total restricted funds 493,681 1,225,879 (1,546,328) 173,232
2022
At 1 At 31
Group and Charity January March
2021f Income
E		 Expenditure
8		 2022
8
DNRC Programme 600,000 150,000 (269,178) 480,822
Golf clubhouse 5,186 (5,186)
Donated fixed asset 34,290 (21,431) 12,859
Life Cycle Charge 635,083 (635,083)
Estate Service Charge 486,025 (486,025)
Total restricted funds 639,476 1,271,108 (1,416,903) 493,681

Unrestricted funds
Restricted
General Designated funds Total
Group 6 F E
Fixed assets 273,353,107 273,353,107
Current assets 2,457,886 5,914,731 8,372,617
Creditors: amounts due & 1 year (206,440) (1,835,477) (2,041,917)
Creditors: amounts due & 1 year (7,000,000) (3,906,022) (10,906,022)
At 31 March 2023 2,251,446 266,353,107 173,232 268,777,785
Unrestricted funds
Restricted
Charity General
6		 Designatedf funds
E		 Total
F
Fixed assets 281,167,716 281,167,716
Current assets 2,175,497 5,914,731 8,090,228
Creditors: amounts due & 1 year (41,364) (1,835,477) (1,876,841)
Creditors: amounts due & 1 year (7,000,000) (3,906,022) (10,906,022)
At 31 March 2023 2,134,133 274,167,716 173,232 276,475,081

Unrestricted funds
Restricted
General Designated funds Total
Group 6 E E
Fixed assets 273,329,882 12,859 273,342,741
Current assets 4,337,241 4,657,325 8,994,566
Creditors: amounts due & 1 year (92,309) (1,391,964) (1,484,273)
Creditors: amounts due & 1 year (10,000,000) (2,784,539) (12,784,539)
At 31 March 2022 4,244,932 263,329,882 493,681 268,068,495
Unrestricted
funds
Restricted
Charity General
E		 Designated
E		 fundsf Total
Fixed assets 281,144,491 12,859 281,157,350
Current assets 4,214,223 4,657,325 8,871,548
Creditors: amounts due & 1 year (89,290) (1,391,964) (1,481,254)
Creditors: amounts due & 1 year (10,000,000) (2,784,539) (12,784,539)
At 31 March 2022 4,124,933 271,144,491 493,681 275,763,105
FINANCIAL COMMITMENTS
Capital commitments are as follows:
Group 2023 2022
f
Contracted
for but not provided		 for 23,180