PITZHANGER MANOR & GALLERY TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS 1 April 2024 to 31 March 2025 Charity Registration Number: 1152434. Company Reglstration Number: 08278049
Trnst••s' Report and Consolidated Financial Statem•nts Contents Page Report ofthe Trustees 1-18 Reference and Administrative Details 19-20 Statement of Trustees Responsibilities 21-22 Independent Auditorfs Reportto thg Members of Pitzhanger Manor & Gallery Trust Consolidated Statement of Financial Activities 23-26 27 Group and Charity Balance Sheets 28 Consolidated Statement of Cash Flows 29 Notes to the Financial Statements 30-40
Pitzhanger Manor & Gallery Trust Report of the Trustees for the year ending 31 March 2025 The Trustees are pleased to present their annual report together with the financial statements of the charityforthe yearending 31 March 2025. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles ofAssociation, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. Introduction: About Pitzhanger Manor & Gallery Trust Pitzhanger Manor was designed and built in 1800 by Sir John Soane, one of Britain's leading architects (whose other buildings include the Bank of England and Dulwich Picture Gallery), as his personal country retreat in the then rural village of Ealing. Pitzhanger is vitally important in the Soane story as a rare example of a building Soane designed, built and lived in himself. Soane used itas a laboratory for his architectural ideas, including his trademark use of canopy domed ceilings, the application of idiosyncratic classica I detai Is and his in novative use of light as an architectu ral tool. The Grade I listed house represents an extraordinary architectural statement bursting with his influence, ideas and flourishes: it is an artistic tour de force. Pitzhanger Manor & GaSlery Trust was established in 2012 to work with Ealing Council, the owners of Pitzhanger Manor, to conserve, repair and enhance Pitzhanger Manor & Gallery as a major cultural landmark for West London and beyond: a destination for art, education, and architecture. The project's aim was to restorethe Manor to Soane's original design and upgrade the Gallery and the surrounding gardens to enable the hosting of a world-class exhibitions programme, and to offer learning and enjoyment for all with an extensive outreach programme. On completion of the three-year capital project in 2018, the Trust took over the running of the site under a long-term lease and a management agreement. The Trust's executive team are overseen by an experienced Board of Trustees. Objectives and Activities Vision We believe culture matters for all people. Pitzhanger will initiate exceptional creative encounters for everyone, empowering expression, inspiring discovery and enriching ourcommunity. Mission Building on the dual foundation of Soane's 1800s Manor and parkland and of the contemporary Gallery, Pitzhanger will unite the past and the present and inspire the future. Our mission is: To conserve and revitalise SirJohn Soane's Pitzhanger Manor in his original parkland,. To celebrate Sir John Soane's genius as a designer: to nurture understanding ofthe relevance of Soane's work today, and to carry forward his passion to inspire future generations in art, architecture, and design;
Pitzhanger Manor & Gallery Trust To offer a programme of compelling, ambitious, and stimulating exhibitions that provoke and inspire; Through an imaginative and wide-ranging programme of participation and events, to enable broad and diverse audiences in Ealing, West London and beyond to ignite their creative potential; To offer a stimulating place for creative reflection and debate that will encourage fresh ideas and new connections that enrich our lives; and To develop a sustainable business that enables Pitzhanger to deliver its aspirations in the long term, seeking to diversify and grow income stream5 from a wide range of fundraising and commercial activity. Strategic Goats Reach more people Positively impact our community in Ealing Fi nancial sustainability Care forour people and buildings Quantifiable measures and targets are set out in the Group's business plan. Values Collaborative: inclusive and supportive teamwork with everyone we work with, developing dynamic and productive partnerships beyond the organisation Excellence: striving for excellence in everything we do and everything we create. reflecting Soané's exceptional design legacy Trust & Responsibility- valuing and respecting all the people we work with, encouraging and respecting expression and debate Bold and Creative: adv?nturing and innovative spirit to embrace challenge, experiment with new opportunities and learn from failures Sustainability: embracing sustainable practices, committing to reduce our environmental impact and considering ecological, social and economic factors in everything we do Delivering Public Benefit The Trustees confirm that they have fulfilled the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission general guidance on public benefit. The Trust delivers value to its community through delivering its vision and mission as outlined above.
Pitzhanger Manor & Gallery Trust Achievements and Perfornianc• SUMMARY otal visitors in person . 68,563 otal digital visitors . 538,000 Diversity of audiences . 25% of our visitors are young people (aged 25 and under) ,. 18% from the global majority otal Education and Outreach Engagements: 19,883 (ranging from school visits to orkshopsl 7010164 out of 91 l of the Borough of Ealing's state schools have been engaged, of which 37Vo are pupils at schools in Southall & Greenford, and 25% are children in receipt of Pupil Premium Exhibitions Main Gallery: 5 exhibition5: Alice Irwin: Chinwag: Gray50n Perry: The Vanity of Small Diffei'ences,. For Arts Sake x Pitzhanger: Oi"iginal Works on Paper,. Matt Small: Pi"ide of rriglriricl,. Alison Watt.. Froin Light. Soane Gallery: 5 exhibition5: Tim Brel-Day: Echoes and Idioins,. From Waste to Wonder: The rt of Sustainable Ti-ansformation., Southall Resists,. Katherine Gill: Language of the Physical,. Nicole Farhi.. Jaccu5e..., Manor Displays: 4 exhibitions". 50ft Colours: A DN5playof Student Artwoi"k; Sinta Tantra: The ic Jl?trliJb of Batavia., A Fine Li ne.. Modern Makers at Pitzharjger; Antoni Malinowski and Helene Binet. Pigments and Photons In 2024-25 Pitzhanger engaged more people from diverse communities through ourvaried pro9ramme of exhibitions, outreach and events, celebrating art, architecture and design. In a tough yearwhen museums and galleries across the UK have struggled with visitor numbers, Pitzhanger attracted record visitors of over 68,000, exceeding even its opening year. The diverse exhibitions and programme of events secured high profile pres5 coverage in national titles and broadcasts, including BBC1 Antiques Roadshow. Pitzhanger was built by the 50n of a bricklayerwho, thanks to a scholarship and mentoring, was able to realise his creative potential and riseto the top of his profession. At Pitzhangertoday we uphold this legacy and strive to give inspiration and practical career supportto young people and those who teach young people. Through its learning and outreach programme Pitzhanger works to encourage and enable young minds from all background5 to aim high, imagine new hori70ns and to build personal confi'dence. Pitzhanger also aims to be a community hub where communities can come togetherto celebrate art and creativity: over the year we developed existing partnerships and built new collaborations with local groupsthat use Pitzhanger as a meeting place and a venue for debate, inspiration and celebration. Our Gallery Café, Bella Puglia ha5 become a destination, drawing in regular loca15 to meet and relax at Pitzhanger and enjoy its beautiful gardens. In 2024-25 we presented an extraordinary array of exhibitions across the gallery and historic house. In addition to household name, Grayson Perry, our exhibition programme saw a wide range of different
Pitzhanger Manor & Gallery Trust voices, styles and lived-experiences, from UK-Balinese Sinta Tantra and queer Polish artist Antoni Malinowski, to Matt Small's powerful Pride of England exhibition, inspired by the diversity of the England football team, showcasing work co-created by Matt with school children from across Ealing in workshops at Pitzhanger. In October 2024 Pitzhanger was delighted to be invited to partner with Bloomberg Connects to create new, easily accessible audio and online information about Pitzhanger, its history and current displays for visitors. Featuring interviews with our artists, volunteers and staff, they help bring the house and gallery to life ar)d broaden accessi bi lity for all sorts of visitors, including those with visual impai rment. Alongside our regular programming we had a number of special firsts and celebratory moments in the yearthat included: RIBA London Award for the Pitzhanger Community Hub for contemporary architecture within Grade 1 historic setti ng Julian Opie's Curly Hail- sculpture acquired on a permanent basis for the people of Ealing BBC Antiques Roadshow from Pitzhanger brought 3,500 participants in May, with three episodes broadcast on BBC1 across the autumn, each episode attracting c. 5 million viewers Inaugural Ealing Book Festival: Pitzhan9er hosted the first Ealing Book Festival attracting over 1,300 participants Bengal Durga Puja - Our first partnership with the Bengal Heritage Foundation bringing Bengali communities from across the South of England to celebrate at Pit2hanger. Visitors attend the celebration of the acquisition of Julian Opie's Curly Hair LED sculpture May 2024 Delivering Pitzhangerfs public programme and conservation projects was challenging in a year of difficu It external economic factors which resulted i n i nflation across all operating costs. Additionally, we were required to absorb a once-off unplanned reduction to our annual Management Fee in response to Ealing Council's financial pressures. The team worked hard to rearrange our programme, reducin9 costs wherever possible and generating new sources of income, with the aim of still achieving real impact in our community and meeting all our en9agement targets, and undertaking the essential preventative tnaintenance. We were fortunate to receive two substantial multi-year grants to support our work, from Garfield Weston in supportof our programme and Fidelity Foundation to enable us to grow our commercial income streams, this latterto take effect from 2025-26. More details of our activities are given below.
Pitzhanger Manor & Gallery Trust LEARNING AND OUTREACH This yearwe have grown our learning & outreach programme to engage 19,883 participants. This is achieved through our programmes for Schools, Families &Young Adults, Community Partnerships. Our volunteering scheme (with over 100 active volunteers) has generated 4,695 hours. Pupils from Edward Betham Prim4ry School (Bukayo Saka'$ school) p05ing In front ol portrait5 01 Esling-r8ised Eng18nd playsts, Chloe Kelly and Bukayo Saka with artist Mett Small in the G3118ry 8t Pitzhanger. Schools In 2024-25 we welcomed 4,185 school children to Pitzhanger. It is Pitzhangerfs objective to engage every school in the Borough of Ealing in a meaningful way. To date we have engaged over two thirds of these schools1641911, reaching 23 new schools in the borough this year, and we are working hard to make sure we continue to reach the remaining schools. Our schools programmes are designed to encourage creativity, build self-confidence and positively impact the mental health of young people. Our core offer involves both guided visits around the historic manor and contemporary art exhibitions combined with hands-on activities, as well as visits to the schools. Visits introduce children of diverse backgrounds to museums, m<]king them feel welcome and their inputvalued, while building a sense of connection with this iconic part of Ealing's heritage. Through engaging schools we a150 hope to engage parents and encourage families to visit who might not otherwise have known about Pitzhanger. We are committed to drawing on Soane's legacy to break down barriers for people who might not otherwise thinkthat museums are forthem. Highlightsthis year include- 25% of the school children we worked with were in receipt of pupil premium; a particular focus of our schools programme is to develop relations with schools in Southall and Greenford: 37Yo of pupils we worked with came from Schools in these wards; we have grown the percentage of our visitors identifying as being from global majority and mixed race ancestry to 18%.
Pitzhanger Manor & Gallery Trust we are delighted to have secured ACE funding to support various special projects targeted at our South Asian communities, to help in our long-term goal to better represent the diversity of the Borough of Ealing. Archit8Ctur8 after school club with Dairy Meadow$ School, Southall Pupils from Edward B?tham Primary School in the Upp?r Drawing Room We encourage schools to experience the manor first and foremost, but where schools cannot visit us to see Soane's architecture and the art for themselves, we run outreach programmes to take creative inspiration and careers advice to them. In addition to visits, we also run the Archltecture After-school Club in primary and secondary schools, supported by The Alan Baxter Foundation. This is a rare opportunity for students to consider careers in the creative sectors and learn more about the built environment and its impact on society. A core part of our work with schools is to inspire, upskill and encourage teachers in teaching creative subjects: we do this through four Teacher CPD sessions per year, which have been popular and well received. Families & young adults Engaging Ealing's youth is a key priority for Pitzhanger. Ealing is a Borough with a high proportion of young people: ouraim forthis year was that 25% of our visitors would be aged 25 or under, a targetwe have achieved. In addition to our exhibitions and displays, we run a range of programming designed specifically to engage families and young people. Families Pitzhanger offers a wide range of activities for families, from structured workshops and school-holiday clubs to i nformal fami ly-led trails and drop-in creative activities on site at Pitrhanger: Mini-makers programme is an important offer for children aged 0-5, developing motor skills, and collaborative creativity,. The recent WeAR the City art project, funded by Ealing Council High Street fund, encouraged creative problem solving while celebrating the young people's local neighbourhood. This project culminated in a high street procession of wearable architecture they had made,.
Pitzhanger Manor & Gallery Trust Holiday Clubs: with the support ofthe John Lyon's Charity's School Holiday Activity Fund (SHAF}, we were again able to host our Creative summer programme. Artist Sol Goldgn S8to lead$ a We AR the City'wearable Architecture, Parade with familie4 In October 2024- an event made possible through funding from Ealing Council High Street fund Loeally-ba5ed art15ts, Matt Small. leads a holiday club workshop a5 part of his Prjde olEngland exhibition at Piizhangfrr In Ffrbruary 2025 Our partnership with Bloomberg gave us access to a translation service that has enabled us to translate adverts to some ofour activities such as Mini Makers into both Hindi and Punjabi to communicate better with ourcommunities across the borough forwhom English is not a first language. i)I'ri.11.INI' I;. 11 MINI MAKERS MINI MAKERS U MINI MAKER5 Posters created In Hindi. Punjabi and English lor Mini Makers Young adults Young adults are a key audience for Pitzhanger. We introduced our New Creatives scheme for 16-25 year-olds last year. A focus going forward, building on a successful pilot Pitzhanger Youth Forum, is to develop more programming to connect with young people across the Borough. We are delighted to have secured funding from ACE to help us roll outa new Youth Forum, and to be working with NewGen Festival, Young Ealing Foundation and other partners on new collaborations and fun events.
Pitzhanger Manor & Gallery Trust Young adults collaborattr on the Pitzhanger Youth Forum. Adults: woA(shops. talks & events Our Adult Programme seeks to provide meaningful moments where people frotn all communities and different interests can learn, be inspired, get involved and, in doing so, build wellbeing and lifelong learning. In 2024-25, we engaged 6,853 adults in the public programme across the year (talks, lecture5, workshops, debates etcl. Thursday Lates Our monthly Thursday Lates (late opening the first Thursday of every monthl were a key moment where people experienced Pitzhanger after hours. These special events are designed to be accessible to local audiences who have faced barriers to engaging with arts and culture, and operate on a 'Pay What You Can, model. Each Late seeks to offer people a range of different styles of events to suit differenttastes and interest areas. Over the past year these have included: Music performances from local groups lincl. Songbyrds, Ealing Music Service children's groups,. Hanwell Ukulele) Staged performances lincl. Questors, the Ballet School,. PlayGC Theatre); Drawing & art woi-kshops lincl. life drawing with Brentford Nudes; Slow Looking); Craft & making woi"kshops lincl. Ealing Repair Cafe; Make your own Match Attacks; Badge Making,. Artist-led print-making workshops),. Talks and Debates.. Panel Discussions lincl. The Future for West London Urban Planning; Sustainability in Architecture,. Motivating People through Sport & Art; Heritage Houses in West London,. multiple Artist talks}. Slow looking workshop as part ol Alison Watl'9 exhibition programme Po8try workshop at Pitzhanger with NaNir Singh
Pitzhanger Manor & Gallery Trust Community partn•rships Pitzhanger worked with a wide variety of community groups across the Borough to increase engagement and impact. These ranged from Znaniye Foundation, Southall Community Alliance, Ealing Music SeNice, Ealing Film Festival, Young Ealing Foundation to Ealing Repaircafe, and many more. We successfully secured funding from Arts Council England to build further on these partnerships in 2025. In 2025-26 we are planning a series of initiatives to engage more of the communities in Southall and Greenford to coincide with our summer season of exhibitions with Permindar Kaur and Southall- born artist Prem Sahib . We ran an initial community consultation session in March 2025, working with representatives from Southall Community Alliance, Bhangra Dance London, Young Ealing Foundation and Southall Pop-up Museum. A cornmunity group from the Znaniy8 Foundation during a workshop at Pitzhan9Brlor Black History Month In September 2024 we also partnered with the Bengal Heritage Foundation to host their annual Durga Pula festival, held in our green space outside the manor in Walpole Park. The four-day event engaged around 15,000 visitors, many of whom also engaged with the manor, gallery and exhibitions. Volunteering Itwould not be possible to run Pitrhanger and open to the public withoutthe support of ourteam of over 100 active volunteers who have clocked up some 4,695 hour5. They provide crucial support in: welcoming visitors, providing tours, supporting conservation and invigilation of the historic spaces, helping out at family workshops, making Pitrhanger honey; and maintaining the beautiful gardens around the Manor. In return, volunteers gain significant work experience and the camaraderie of working in a team, plus the opportunity to build their expertise and knowledge. M05t volunteers are locally-based and we have been experimenting across the year with engaging more young volunteers, especially students from local colleges.
Pitshanger Manor & Gallery Trust "Volunteering here connects me to histoiy, art, and people. Every visit feels like shai.ing a hidden gem with the woi"Id." Diane Emery EXHIBITIONS In 2024-25 we put on a record 15 exhibitions and displays. We try to balance our exhibition programme to provide something for everyone, addressing a range of issues and showcasing works in very different media (including sculpture, ceramics and glass, tapestry, painting and prints). We worked with internationally famous artists such as Grayson Perry alongside earlier career artists such as Alice Iwin. By way of illustrating the diversity of this year's programme we worked with 11 female artists as well as 5 art15ts of global majority ancestry and 3 who identify as LGBTQ+. Main Gallery Alice Irvvin,. Chinwag124 Jan - 30 Jun 2024). This exhibition showcased Pitzhangerfs commitment to exhibiting the work of early career artists. The first museum solo exhibition for the artist, the exhibition brought colourful sculptures, prints and drawings celebrating playfulness, experimentation and the act of coming together. Alice uses her own experience of dyslexia to create a visual language. Grayson Perry.. The Vanity of Sinall Differences 110 Jul - 8 Dec 2024): For the first time, this exhibition brought the Tu rner-Prize-wi nni ng a rtist's six large-scale tapestries to the bui Idi ng for which William Hogarth's A Rake's Progress, the inspiration behind Perry's tspestries, were purchased. The set of monumental tapestries offered a contemporary re-reading of the series of eight satirical paintings. Taking Hogarth's famed series as a starting point, Perry's tapestries depict a corresponding fable of class, taste and social mobility. ForAits Sake x Pitzhangei": Oi"iginal Works on Paper{14 Dec 2024- 12 Jan 20251 Dedicated entirely to original works on paper, For Arts Sake x Pitzhanger showcased over 150 pieces in Pitthanger Gallery, by both established and emerging artists. Matt Small.. Pride of England (22 Jan - 23 Feb 20251 Following a successful crowdfunding campaign, we were delighted to put on Pride of England, a community-focused exhibition celebrating the diversity, unity, and community legacy of the England football teams. Central to the exhibition were England's Three Lions- sculptures c.o-created by artist Matt Small with young people in Ealing, which then accompanied the England Men's Football Team to Germany for EURO 2024. Alison Watt.. From Light {5 Mar- 15 Jun 20251 We hosted a major new exhibition by painter Alison Watt, marking her first major public gallery exhibition in London since 2008. From Light included 18 new paintings created specifically for Pitzhanger. The title reflected the centrality of light in both Watt's work and that of Sir John Soane, in harnessing light to shape space and create atmosphere. For Watt, light is the'very substance of painting,, while for Soane, it defined the architecture of Pitzhanger. 10
Pitzhanger Manor & Gallery Trust Grayson Perry.. The Vanityof 5m&ll DiffErEnGe5 In the gallery Alison Watt.. From Ljght In the gallery S¢>ane Gallery Tim Bret-Day.' Echoes and Idioms111 Nov- 19 May 2024). Building on the success of the Magnum display in 2023 we followed thi5 With a popular exhibition of a local Acton-based photographer, Tim Bret-Day. Fi"om Waste to Wonder.. The Ait of Sustainable Transformation 125 May - 15 Sep 2024) saw creative practitioners based in the nearby thriving Park Royal Design District display artworks and objects focusing on re-cycling 5outhall Re51Sts (21 Sep - 3 Nov 2024) displayed the work of Southall schoolchildren and their responses to the racism and community response in the 1970s and 1980s. Kathei-lne Gili.. Language of the Physical18 Nov 2024 - 9 Mar 20251 brought together a range of sculptures, spanning four decades from 1980 to 2022. Gill's practice is rooted in a deeply physical engagement with materials-particularly steel, heavy-duty paper, and paper clay-and her work has steadi ly gained recognition in recent yèars. This exhibition highlighted Gill's exploration of the expressive potential of materials through the physical act of making. Nicole Farhi.. J'accuse.. l (19 Mar- 15 Jun 20251 We presented a new exhibition of sculpture by artist and designer Nicole Farhi. Farhi displayed 25 cast ciment fondu busts, each hand painted with acrylic pai nt and depicti ng victi ms of miscarriages of j ustice across multi ple countries a round the world over the past 125 years. The exhibition portrayed victims whose wrongful convictions have shaped legal history. Southall Resists Nicole F8rhi.' Jaccuse... FrDm Waste to Wonder.. TheArt of Sustainable Transformation
Pitzhanger Manor & Gallery Trust Manor Displays Artist5 at Home.. Sinta Tantra.. The Lightclub of Batavia {24 Jan- 4 Aug 2024): Her works, described as 'painting on an architectural scale,, consist of gold-leaf coloured paintings displayed across the manor creating a dialogue with Soane's historic interiors. Tantra is UK-Balinese and the exhibition explored themes of light, wealth, beauty and the legacy of colonialism. Soft Colours: A display of artwork created by Year 5&6 students at Tudor Primary School in Southall and Christ the Saviour Primary School in Ealing Broadway. These students worked collaboratively within their classes with two of Pitzhanger's artist practitioners to create some original sculptures, and produced a film celebrating their work. A Fine Line.. Modern Makers at Pitzhanger- an exhibition of modern ceramics and glass, curated by Joanna Bird. The exhibition broughttogether works of eleven makers and set their work againstthe historic interiors of the manor, designed by renowned architect Sir John Soane. Soft Colours in tha manor Anttsni Malinkowski and Helèna Binet.. Pigmonts &nd Photons in the manor Antoni Malinowski and Helene Binet.. Pigments and Photons17 Aug 2024- 25 Feb 2025) this exhibition marked the firstjoint exhibition of Antoni Malinowski and Hélène Binet in a public gallery, celebrating theirdeep sensitivity and understanding of lightand architectural space and form. The works were displayed throughout the manor house, conversing with the historic spaces designed by Sir John Soane. CONSERVATION AND MAINTENANCE Pitzhanger's third strategic goal is to care for its (people and) buildings. Key to this is conserving and mai ntaini ng this uniq ue heritage asset i n the centre of Ea li ng. Over the last year we have continued to follow our Conservation strategy as set out in our CMP (Conservation Management Plan) with a focus on preventative conservation along with essential fixes in the historic manor. Examples of projects undertaken include: restoration of historic shutters and faulty doors; complete clean of historic fireplaces,. regular repair and touching up of the specialist paint work & decoration; 12
Pitzhanger Manor & Gallery Trust investigation and repair of damp in the Manor; pest control (including moths and ladybirds a perennial for historic homes). Given the current economic circumstances we have had to reduce activities to the essential conservation and maintenance required to protect this special historic site. However there is considerably more work we would like to conduct as soon as we can secure the necessary funding. LOOKING AHEAD We hope 2025-26 will be another majoryearfor Pitzhanger, building on our success and deepening our impactwith and across our community in Ealing. Highlights include: a South Asian celebration sea50n, bringing together contemporary art, music and food working with community partners across Ealing, supported by an ACE grant,. we will be hosting exhibitions bythe artists Prem Sahib and Permindar Kaur; new families and young people's programming informed by feedback, learnings and community consultations in 2024-25,. our largest ever exhibition, looking atthe work of British art icon Howard Hodgkin; and the appointment of new Director, Rebecca Lyons, taking over from Clare Gough after eight years, leading Pitzhanger. Fundraising Fundraising is undertaken by a small in-house developmentteam, with the input of the Development Committee la sub-committee of the Board). The Trust is registered with the Fundraisi ng Regulator whose Code of Fundraising Practice and Fundraising Promise set a standard for fundraising activity in the UK. Fundraising strategy focuses on securing support via statutory funders, charitable trusts and foundations, corporates and individuals, selecting the most appropriate source of funding for each project for which support is being sought. In the year to 31 March 2025 the main fundraising focu5 was securing support for our exhibitions and education programme. Pitzhanger takes a considered approach to fundraising ensuring that we comply with regulations and guidance related to data protection and the protection of vulnerable people, that communications are not excessive or intrusive and that the individuals we contact do not feel under any undue pressure to donate. When fundraising is carried out on behalf of Pitzhanger it is with a small group of trusted supporters who promote Pitzhanger through their personal and professional connections. Pitzhanger works closely with these partners to ensure their approach consistently meets the high standards of the museum's own fundraising. The Trust has received no complaints about its fundraising activities12024'. nil) 13
Pitzhanger Manor & Gallery Trust Financial Review In the yearto 31 March 2025, the Trust generated a surplus of £12,48312024: deficit of £279,662). This relates to a deficit on unrestricted activities of £71,528 and a surplus on restricted activities of £84.011 . The movement from the comparative year reflects increased admissions and commercial income, increased income from Trusts and Foundations in support of our programme and stringent cost-cutting across all a reas. Main Funding Sources The Trust's operating activities have been supported by a management fee from Ealing Council £357,25012024- £427,000), commercial income from visitor admissions £190,17412024- £75,562), other trading income £422,59312024: £266,517) and unrestricted donation.s from Trusts and Foundations and individuals £40,06712024- £12,892). The Trust also receivod restricted donations of £195,84412024: £99,033) from a range of Trijsts and Foundations and individuals mainly in respect of the learning programme, exhibitions (programme and equipment) and furtherdonations forthe acquisition ofJulian Opie's Curly Hair. At the end of the year, the Group held reseNes of £974,88612023: £962,403), of which £500,85512024: £416,844) were restricted, £226,531 were unrestricted12024: £298,059) and £247,500 (2024: £247,500) were unrestricted but designated. The restricted reserves largely relate to the Community Hub capital works and remedial works outstanding from the renovation project. Unrestricted but designated reserves relate to a sinking fund for future maintenance costs, development ofthe public programme and general operational support whilst commercial income streams develop. Investment Policy As most of the charity's funds are to be spent in the short term, there are no funds for long-term investment. Our funds are therefore held in a current, deposit and short term money market accounts. Reserves Policy The Trust's policy is to hold three months, core operating costs in reserve, approximately £250,000. At the end of the year, free reserves are £226,531 which the Trustees acknowledge falls slightly short of the target set, but are satiqfied that the position is manageable. Going Concern The Charitable Group and Trust's working capital is provided by a combination of its charitable, fundraising and trading activities. The outbreak of Covid -19 caused significant disruption to the Charitable Group and Trust's activities, resulting in a significant loss of commercial income, and the Trust is still working to increase both commercial and fundraising income in a challenging economic climate. The Board has assessed the prospects of the Charitable Group and Trust over the 12 months from the date of approval of the Annual Report and Financial Statements taking into account its expectations for future operati ng activities, fundraising a nd the risks that the Trust faces. I n addition, the Trust has 14
Pitzhanger Manor & Gallery Trust performed a sensitivity analysis on its forecasts to evaluate a severe but plausible downside scenario on the business of various operati ng risks. Having completed these assessments, the Board has a reasonable expectation that the Charitable Group and Trust has adequate resources to continue in operational existence for the foreseeable future, being a minimum of 12 months from the date of approval of the financial statements, and thus continues to adopt the going concern basis of accounting in preparing the fi'nancial statements. The Trustees note that continued 501vent operation beyond the twelve month period will require an increase in commercial revenues and fundraising sUPPOrt.
Pitthanger Manor & Gallery Trust Structure. Governance and Management Trustee Roles The Trustees provide wide ranging specialist support in respect of the operational activities of the Manor & Gallery, as well as well as helping with fundraising. The Trustees are responsible for the overall management and control of the Trust including the implementation of policies and meeting their legal, fi'nancial and fiduciary duties under charity law. Governing Document The organisation is a charitsble company limited by guarantee, incorporated on 1 November 2012, and registered as a charity on 14 June 2013. The company was established under a Memorandum of Association that established the objects and power5 of the charitable company and is governed under its Articles of Association. In the event of the company being wound LJP members, who are the Trustees, are required to contribute an amount not exceeding £1. Recruitment and Appointment of the Trustees The directors of the company are also charity Trustees for the purposes of charity law and under the company's articles are known as the Trustees. Underthe requirements of the Memorandum and Articles of Association, the Trustees are elected to serve for a period of three years after which they must be re- elected at the next Annual General Meeting. All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in Note 9 to the financial statements. Details of the Trustees who served at any time since the start of the financial year under report and to the date of approval of this report are provided at page 19. When Trustees are recruited, the Board identify the key skills that are required following which the Trust advertises publicly for new Trustees. The process for appointment is that applications are reviewed by the Nominations Committee before inviting the potential candidates for interview. The selected candidates are then put forward to the Board for approval. In addition, up to three additional individuals may be co-opted by the Board Trustee Induction and Training New Trustees receive an information pack that includes the vision, mission and values of the organisation, the current business plan, tninutes of recent Trustee Board meetings and details of organisational structure. In addition, new Trustees undertake an induction programme comprising an introduction to the operations of the Trust presented by the Senior Management Team Organisational Structure The charity has a Trustee body that meets regularly throughout the year and is responsible for the strategic direction and policy of the charity and overseeing governance. The Trust Board met regularly during this period, with occasional ad hoc meetings as and when required. Sub-committee members comprise a mixture of Trustees, members of the Executive and industry professionals who bring valued specialist advice.
Pitzhanger Manor & Gallery Trust In addition there are 8 Sub-committees of the Board that met regularly across the year. These are: Building and Conservation Communications Development Exhibitions and Interpretation Finance Fundraisi ng Learning and Outreach Nominations and Remuneration Committee (which meets on an ad hoc basis as required.) Key Management Personnel The Trustees delegated day-to-day management of the charity to its executive Director, Clare Gough, supported by the Senior Management Team which comprlses: Head of Commercial and Operations Head of Development Head of Finance Head of Public Programmes The above group together with the Trustees are considered to be the key management personnel of the cha rity. Remuneration Policy Pay and remuneration of the charities, employees is bench-marked against industry norms and approved by the Nominations and Remuneration Committee. Volunteers In addition to the volunteerTrustees, the Trust makes extensive use of volunteers as expert advisors on its sub-committees listed above and in its operational activities such as invigilating and guiding in the manor and gallery, assisting in educational activities, gardening, beekeeping and honey production and grounds maintenance. Trading Subsldiary PitzhangerTrading Limited, a wholly owned subsidiary of PMGT, was set up in November 2018 as a vehicle for the various planned commercial activities such as venue hire and catering which forms a cruci al part of the venture's fi nancia I sustai nability. Prlncipal Risks and Uncertavnties The principal risks specific to Pitzhanger Manor& Gallery and its subsidiary are: Financial sustainability, following the Covid pandemic and external factors such as the cost of livi ng crisis, increasi ng operating costs in a period of high i nflation ShortFall on visitortargets
Pitzhanger Manor & Gallery Trust Failure to engage with the public regarding the exhibition, public and outreach programme Damage to the site; unscheduled maintenance or failure to meet planned maintenance targets Insufficient staff resource The Trustees, led by the Chair, examine the major strategic, business, and operational risks that the Trust faces, and the Trustees ensure that appropriate systems are in place orare planned to mitigate these risks. Specifica Ily.. The on-going cost of living crisis remain a concern whilst revenues stream are being rebuilt. The Trustees and executive are keeping a close eye on finances with prudent financial management and long-term cashflow planning. The Trust acknowledges that visitor numbers are likely to fluctuate for both internal factors (the exhibition cycle) and external factors (seasonal factors, weather conditions etc) and also the on- going impact of the costs of living crisis on visitor numbers across venues nationally. The Senior Management Team monitor visitor performance against annual targets on a weekly basis and these are reported at Board meetings. Adjustments are made to marketing initiatives as appropriate throughout the year. The exhibitions, public and outreach programmes are carefully developed and reviewed to ensure they are sufficiently varied and appealing and have potential to attract new audiences. The Trust follows a planned maintenance plan that is reviewed on a quarterly basis by the Building and ConseNation Committee. It has an emergency recovery plan. Approved by the Trustees on and signed on their behalf by.. Ittno,C/L4JAA44gA I b 1112 g Howell James CBE Chair
Pitzhanger Manor & Gallery Trust Reference and Administrative Details Charity Name Pitzhanger Manor & Gallery Trust Charity Registration Number 1152434 Company Registration Number 08278049 Registered office and operational address Pitzhanger Manor & Gallery Trust Mattock Lane London W5 SEQ Auditor Buzzacott Audit LLP 130 Wood Street London EC2V 6DL Bankers HSBC 46 The Broadway London W5 5JR Legal advisors Trowers and Hamlins 3 Bunhill Row London EC1Y 8YZ Trustees during the year and up to the date of signature of the financial statements Howell James Somil Goyal Jon Ball Jane Cooper M ichael Fisher Jennifer Gubbin5 Kate Rolfe {appointed Dec 20241 Gareth Shaw Caroline Worthington Chair Deputy Chair Trust Supporters The Trustees would like to thank the following supporter5 for their 9ener051ty to Pitzhanger Manor & Gallery Trust in 2024-25 Alan Baxter Foundation Arts Council England Bloomberg Philanthropies Garfield Weston Foundation Hamptons Johri Lyon's Charity Lévy Gorvy Dayan London Borough of Ealing Mishcon de Reya 19
Pitzhanger Manor & Gallery Trust Monikar Foundation Paint and Paper Library Pines and Needles Rick Mather David Scrase Foundation The Uncommon And those who wish to remain anonymous. The Trust also received individual gifts from Patrons, Pitzhanger Partners, Members and other generous supporters. The Trust is most grateful to them for their invaluable 5UPPOrt. 20
Pitzhanger Manor & GalleryTrust Statement of Trustees, Responsibilities for the year ended 31 March 2025 The Trustees, who are also the directors of Pitzhanger Manor & Gallery Trust forthe purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin9 Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fairview ofthe state ofaffairs ofthe charity and the group and ofthe income and expenditure of the charitable group for that year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then applythem consistently., observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabletothe United Kingdom and Republic oflreland (FRS 102); make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, Subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will conti nue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy atanytime the financial position ofthe charity and the group and enable them to ensurethat the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of tho charity and the group and hence for taking reasonable steps for the prevention and dotoction of fraud and other irregula rities. Each Trustee confirms that.. so far a5 Trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware,. and each Trustee has taken all the steps thatthey ought to have taken in order to make themselves aware of any relevant audit informatior) and to ostablish thatthe charitable company'5 auditor is aware of that information. This confirmation 15 given and should be interpreted in accordance with the provisions of 5418 of the Cornpanies Act 2006. 21
Pitzhanger Manor & Gallery Trust The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation an dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees on and signed on their behalf by 16.? L< Howell James CBE Chair 22
Pitzhanger Manor & Gallery Trust Independent Audrtor's Report to the Members of Pitzhanger Manor & Gallery Trust Opinion We have audited the financial statements of Pitzhanger Manor & Gallery Trust (the 'charitable parent company,) and its subsidiaries (collectively the 'group'l for the year ended 31 March 2025 which the comprise the group statement of financial activities, the group and charitable parent company balance sheets and statement of cash flows and the notes to the financial statements including the principal accounting polices. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting PractlLe). In ouropinion, the financial statements: give a true and fair view of the state of the group's and parent charity's affairs as at 31 March 2025 and of the group'5 income and expenditure forthe yearthen ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevantto our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these roqui rements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the fi'nancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation ofthe financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events 01 conditions that, Individually or collectively, may cast significant doubt on the graup and charitable parent company's ability to continue as a going concern for a period of at least twelve months from when the fi na ncia15tatements a re authori5ed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in tlie annual report and financial statements, other than the financial statements and our auditor's report thereon, Our opinion on the financial statements does not cover the other information 23
Pitzhanger Manor & Gallery Trust and, exceptto the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our l<nowledge obtsined in the audit or otherwise appears to be Inaterially IT)iSStated. If we identify such material inconsistencies or apparent material misstatpments, we are required to determine whetherthere is a material misstatement in the financial statemer)ts ora material misstatement ofthe other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this rogard. Opinions on other matters prescribed by the Companies Act 2006 In ouropinion, based Dn the work undertaken in the course of our audit.. the information given in the Trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Trustees, report, which is also the Directors, report for the purposes of company law has been prepared in accordance with applicable legal requirements. Mattèrs on which we are required to report by exception In the light of the knowledge and understanding of the group and parent charity and their environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us,- or the parent charity's fi'nancial statements aré not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trnstees As explained more fully in the statement of trustees, responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparatioii of financial statements that are free from material misstatement, whether due to fraud or error. 24
Pitzhanger Manor & Gallery Trust In preparing the financial statements, the trustees are responsible for assessing the group's and the charitable parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group orthe charitable parent company orto cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurdrice is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISA5 {UKI will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilitie5, Outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting i rregularities, i ncludi ng fraud, is detai led below. A5 part of our planning process,. We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are most susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The charity did not inform us of any known, suspected or alleged fraud. We obtained an understanding of the legal and regulatory frameworks applicable to the charity. We determined that the following were most relevant: Charity SORP, FRS 102, The Charities Act 2011 and The Companies Act2006. We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment ¢iccordi ngly. Using our knowledge of the charity, together with the discussions held with the charity at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. Enquiring of management as to actual or potential litigations and claims. The key procedures we undertook to detect irregularities including fraud during the course of the audit included: Performing analytical procedures to identify any unusual or unexpected relationships. Reviewing journal entrie5 and the overall accounting records, in particular those that were significant and unusual. Reviewing the financial Statement disclosures and determining whether accounting policies have been appropriately applied. Assessing the extent of compliance, or lack of, with the relevant law5 and regulations. 25
Pitzhanger Manor & Gallery Trust Assessing the validity of the classification of income, expenditure, assets and liabilities between unrestricted, and restricted funds. Reviewing all significant related party balances and transactions. Reviewing documentation, such as the charity board minutes, for discussions of irregularities including fraud There are inherent liinitations iii our audit procedures described above. The Inore removed that laws and regulations are froin financial transactions, the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and rogulatioris to enquiry of the trustees ai)d other management and tkie inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial stateinents is located on the Financial Reporting Council's website at This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, forthis report, or forthe opinions we have formed. Gumayel Miah (Senior Statutory Auditor) for and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL Date: 30 September 2025 26
Pitzhanger Manor & Gallery Trust Consolidated Statement of Financial Activities (including income and expenditure account) foy year ended 31 March 2025 Unrestrici&d Fund5 Restricted Total Fund8 Funds Unrestricted Funds Re5trict8d Funds Total Funds Notes 2025 2024 Income.. Donations and grants Charitable activities Other trad ing activities Other income - MGETR relief Investments 40,067 584,286 195,844 235,911 584,280 12,892 516,410 99,033 111,925 516,410 442,593 442,593 266,517 266,517 41,529 16,479 41,529 16,479 89,260 13,557 89,260 13,557 Totsl income 1,124,954 195,844 1,320,798 898,636 99.033 997,669 Expenditure.. Raising funds Charitable 3ctivities 294,399 902,083 9,902 101,931 304,301 1,004,014 221,216 969,180 4,000 82,935 225,216 1,052,115 Totsl expendlture 1.196.482 111,833 1.308,315 1,190,396 86,935 1,277,331 Net (expenditure) / income 171,5281 84,011 12,483 1291,7601 12,098 (279,662) Reconciliation of funds Balances brought forward as at 1 April 2024 545,559 416,844 962,403 837,319 404,746 1,242,065 Balances carried forward at 31 March 2025 20 474,031 500,855 974,886 545,559 416,844 962,403 All income and expend iture relate to continuing activities. All recognised gain5 and losse5 a re included i n the above statement of financial activities. The statement of financial activities also complies with the reguirements for an income and expenditure account underthe Companies Act 2006. 27
Pitzhanger Manor & Gallery Trust Group and Charity Balance Sh••ts as at 31 March 2025 Company Registration Number: 08278049 Group Charity 2025 2024 2025 2024 Note5 Fixed assets Tangible fixed assets Investments 234,032 252,015 234,032 252,015 234.032 252015 234,033 252,016 Current assets Stocks 19,717 446,233 400,000 389,380 1,255 330 19,026 622,422 Debtors Cash held on short term deposit Cash at bank 14 599,774 150,000 232,789 982,563 720,140 796,911 542,566 1,262,706 1,438,359 Creditors.- amounts fal ling due within one year {514.476) 1727,9711 (372.333) 1637,5461 Net current assets 740,854 710,388 610,230 625,160 Net assets 974,886 962,403 844,263 877,176 Funds Unrestricted fu nds -unrestricted 226,531 247,500 500,855 298,059 247,500 416,844 95.908 247,500 500,855 212,832 247,500 416,844 -designated Restricted funds Totsl funds 974,886 962,403 844,263 877,176 Approved by the Trustees on and signed on their behalf by Howell James CBE, Chair 1o(q Is 28
Pitzhanger Manor & Gallery Trust Consolidated statement of Cash Flows for the year ended 31 March 2025 Group 2025 Group 2024 Notes Cash used in operating activities (24,010) 1324,8851 Cash flows from Investlng actlvltles Cash invested into sho rt term deposits Interest received Purchase of fixed assets 1400,000) 16,479 13,556 148,3431 Cash used in investing aclivities (383,521) 134,7871 Decrease in cash and cash equlvalents In year 1407,531) 1359,6721 Cash and cash equiva lents at beginnin9 of year 796,911 1,156,583 Totsl cash and cash equivalents at end of year 389,380 796,911 29
Pitzhanger Manor & Gallery Trust Notes to the Financial Ststements for the year ended 31 March 2025 Accounting Policies The main accounting policies are summarised below. The accounting policies have been applied consistently throughout the period. {al Company information Pitshanger Manor & Gallery Trust is a charitable com pany limited by guarantee incorporated in England and Walès. The registered office is Mattock Lane, Ealing, London W5 SEQ. Ibl Accounting convention The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act2011 and Accounting and Reporting by Charities.. Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repu blic of Ireland IFRS 102}'. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these finencial statements are rou nded to the near85t £. The group financial statements reflect the resu Its and combined Pinancial position of Pitzhanger Manor & Gallery Trust and Pitzhanger Trading Limited. As permitted by 5408 of the Companies Act 2006, the parent charita ble company has not presented its own income and expenditure account and related notes. (cl Going Concem As set out in the Financial Review, the Board has assessed the prospects of the Charitable Group and Trust over the 12 months from the date of approval of the Annual Report and Financial Statements taking into account its expectations for future operating activities, fu ndraising and the risks that the Trust faces. Having com pleted these assessments, the Board has not identified any material uncertainties which may cast doubt over the charity's ability to continue as a going concern and has a reasonable expectation that the Charitable Group and Trust has adequate resources to continue in operational existence for the foreseeable future, being a minimum of 12 months from the date of approval of the Financial Statements. Therefore the Boa rd continues to adopt the going concern basis of accounting in preparing the financial statements. Idl Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. The Trustees may designate all or part of the unrestricted reserves for specific purposes. Restricted funds are su bjected to restrictions on their expenditure i mposed by the donor or throug h the terms ofan appeal. le) Income All i ncome is recognised once the charity has entitlement to the income, it is probable that the income will be received, a nd the amount of income can be measured reliably. 30
Pitzhanger Manor & Gallery Trust Income from grants and donations is recognised when there is evidence of entitlement, receipt is probable, and the amount can be measu red reliably. Contractual and trading income is recog nised as income to the extent that the associated goods or Services have been provided. Where income is received in advance and the charity does not have entitlement to these resources until the goods or Services have been provided, the income is deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. This is normally upon notification of the interest paid or payable by the bank. If) Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expend iture to which it relates. Raising funds comprise costs of market research, communication and raising funds. Charitable expenditu re comprises the direct costs incurred by the charity in the delivery of its activities such as outreach, along with support and governance costs. Governance costs include those costs associated with meeting the constttutional and statutory requirements of the charity and include the costs of the independent auditor and costs Sinked to the management of the charity. Igl Debtors and prepayment5 Trade and other debtors are recognised at the settlement amount due. net of any provision for non- recoverability. Provisions are reco9nised when there is objective evidence that the charity may be unabletocollect all of the amounts due in Full. (h) Donations of volunteertime In accordance with the Charities SORP volunteer ti me is not recognised. Donations of goods for resale The Trust is occasionally in receipt of donations of small item5 for resale in the retai I shop. In accordance with the Charities SORP these are recognised as income when sold. The proceeds of sale are categorised as Retail Sales in Income from other trading activities. TangTble fixed assets and depreciation Tangible fixed assets costing more than £500 are capitalised and depreciated over their estimated useful lives. Depreciation is provided at rates calculated to wrrte down the cost of each assetto its estimated residual value over its expected usefu I life. The depreciation rates in use are.. Fixtures, fittings and equipment 3-10year5 By exception, the Opie art work is depreciated over 20 years. 31
Pitzhanger Manor & Gallery Trust Ik) Leasehold improvements and amortisation Leasehold Improvements costing more than £500 are capitalised and amortised over their estimated useful l ife. Amortisation com mences from the date the Leasehold Im provements are brought into use to the end ofthe lease on 15 March 2044. Financial Instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instrumènts Issues, of FRS 102 to all of its financial instruments. The Charity only has financial assets and Pinancial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Im) Cash at bank and in hand Cash at bank and cash i n hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisltion or opening of the deposit or similar accou nt. (nl Short-Term Deposits 5hort-term deposits represent funds placed with financial i nstitutions for periods between three and thelve months, repayable on maturity. lo) Creditors Cred itors are recognised when there is an obligation at the balance sheet date as a resu It of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be measured or estimated rel iably. Creditors are recognised at the amount the charity anticipates it will pay to settle the debt. (pl Taxation As a charity, Pitzha nger Manor & Gallery Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S.256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Iql Investments in Subsidiaries Investment in Pitzhanger Trading Limited, a wholly owned trad ing subsid iary of Pitzhanger Manor & Gallery Trust, is at cost. (r) Stocks Stock relates to items held in the shop at year end and are recorded at the lower of cost and net realisable value. (s) Critical accounting estimates and judgements The Trustees are satisfied that there a re no significant estimates orjudgements included in the financial statements. 32
Pitzhanger Manor & Gallery Trust Income from donations and grants 2025 Totsl 2024 T¢)tal Unrestricted Restricted Restricted Trusts and foundations Individual and corporate donations 171,081 171,081 93,715 93,715 40,067 24,763 40,067 195,844 64,830 235,911 12,892 12,892 5,318 99,033 18210 111,925 3 Income from charitable activities 2025 Total 2024 Totsl Unrestricted Restrided Unrestricted Restricted London Borough of Ealing tnanagement fee Visltor admis510ns Other 357,250 190,174 36,862 584,286 357,250 190,174 36,862 584.286 427,000 75,562 13,848 516,410 427,000 75,562 13,848 516,410 4 Othertrading activities 2025 Totsl 2024 Totsl Unrestricted Restricted Unrestricted Restricted Catering commissions Retail sales Venue hire Other 66,767 92,565 275,722 7,539 442,593 66,767 92,565 275,722 7,539 442,593 70,017 9,415 187,085 70,017 9,415 187,085 266,517 266,517 5 Raising funds 2025 Total 2024 Total Unrestricte Restricted Unresiricted Restricted Staff costs Development and fundraising Marketing Tradin9 expend iture 92,574 4,544 97,118 85,246 85,246 5,605 62,077 134,143 294,399 1,731 3,627 7,336 65,704 134,143 304,301 2,964 76,920 56,086 221,216 2,964 80,920 56,086 225,216 4,000 9,902 4,000 33
Pitzhanger Manor & Gallery Trust 6 Charitable activities 2025 Total 2024 Totsl Unrestrictecj Restricted u11stricted Restricted Estate management Exhibftions and curatorial costs Education Support costs Governance 180,134 184 180,318 188,098 5,494 193,592 85,047 60,377 557,522 19,003 902,083 15,453 68,817 17,477 100,500 129.194 574.999 19,003 1,004,014 109,858 111,517 529,203 30,504 969,180 9,500 55,798 12,143 119,358 167.315 541.346 30,504 82,935 1.052,115 101,931 The Trust has only one charita ble artivrty.. the Operation of Pitzhanger Manor House and Gallery. Support costs 2025 Total 2024 Total Unrestricted Restricted Ui)rèstricted Restricted Staff costs Office costs 438,704 118,818 557,522 438,704 136,295 574,999 445,733 83,470 529,203 445,733 95,613 541,346 17,477 17,477 12,143 12,143 Governance costs 2025 Total 2024 Total UnrL'Stricled Restricted Unrestricicd Restricted Audit and tax advice Insurance, legal and professional fees 14,835 14.835 21,535 21,535 4,168 4,168 8,969 8,969 19,003 19,003 30,504 30,504 Net expend itu re is stated after charging statutory aud it fee £14,83512024.' £13,500) and taxation services £1,335 12024.. £8,0351 and £17,98312024'. £17,787) depreciation. 34
Pitzhanger Manor & Gallery Trust 9 Trustee Remuneration and Related PartyTransactions No Trustee lor any person connected with theml received any remuneration during the year. Reimbursed Trustee expenses totalled £nil12024.. £nil1. £70012024: £7361 was expended in respect of professional indeinnity insurance for the Trustees. The Trustees land people connected with them) contri buted £2,353 12024.. £2001 during the yea r by way of individual and corporate donations. Other than the aforementioned ther@ were no other related paty transactions during the year ended 31 March 202512024.. no other) 10 Staff costs and remuneration of key management personnel The average headcount of employees (many of whom were part-timel during the year was 2212024 - 211 with all employees contributing to the governance of the charity or working towards achievement of charitable activities or othertrad ing activities. The Trustees delegate key management responsibilities to the Executive Director supported by the Senior Management Team. The total employee benefits, including employer pension contributions, ofthe Executive Director and the Senior Management Team was £276,998 12024. £237,2461 Employment costs 2025 2024 Wages and salaries Social security costs Pension costs 582.833 557,941 48,085 45,881 28,495 26,899 659,413 630,721 Most emp1oyrnent costs are allocated to unrestricted funds, though some costs were funded from restricted funds. These include a proportion of the costs of the public programrne funded by various Trusts and Foundations (see note 171 The number of employees whose annual remuneration wa5 £60,000 or more was.. 2025 2024 £70,000 - £79,999 Pension contribution5 in respect of higher paid employees were £3,72012024'. £3,586} 35
Pitzhanger Manor & Gallery Trust 11 Tangible Fixed Assets Group and Charity Leasehold Improvements Fixtures, Fitting5 and Equipment Totsl Cost As at 1 April 2024 Add itions As at31 March 2025 230,734 55,972 286,706 230,734 55,972 286,706 Depreciation As at 1 April 2024 Charge forthe year As at31 March 2025 21,184 11.029 32,213 13,507 6,954 20,461 34,691 17,983 52,674 Net bookvalue As at 31 March 2025 198.521 209,550 234.032 252.015 As at 1 April 2024 42,465 12 Flxed asset investménts Group Charty 2025 2025 2024 2024 Investments in subsidiaries Details of the charity's subsidiary at 31 March 2024 are as follows,. Name of undertsklng and country of Incorporation Qr r¢sidenc Nature of 8uslness Cla55 of Shareholdlng %Held dlrèct Pttzhanger Trad ing Limited, England and Wales (Company no:116997291 Registered office.. Walpole Park, Mattock Lane, London WS SEO Catering, retail, and venue hire Ordinary 100% All profits of the trad ing company are gift-aided to the parent charity. The net assets of Pitzhanger Trading Company IPTLI atthe end ofthis period are £130,62512024: £85,228}. In the year to 31 March 2025 PTL had income of £442,59312024 £268,658}, expend iture £ 319,51912024- £183,431) and net profit of £130,624 12024. £85,227). 13 Stocks Group Charity 2025 2024 2025 2024 Goods for resale 19,717 19,026 36
Pitzhanger Manor & Gallery Trust 14 Debtors Group Charlty 2025 2024 2025 2024 Amountsfalling due within one year. Trade debtors Amount due from group undertaking Other debtors Prepayments and accrued income 241,588 17,775 222,240 148,095 64,916 131,351 566,602 83 90,362 492,048 104,475 686,968 65,116 139,529 446,233 492,520 112,127 622,422 Amounts falling due after one year: Loan to group undertaking 33,172 33,172 Total Debtors 446,233 622,422 599,774 720,140 The loan has a 25 year term and is repayable in full on or before 1 Ma rch 2044. Interest is payable at the LI BOR rate appropriate to the period. 15 Creditors: amounts falllng due within one year Group Charlty 2025 2024 2025 2024 Trade cred itors Other creditors Accruals and deferred income 77,897 53,602 382,977 514,476 19,787 566,932 141,252 727,971 71,994 31,469 268,870 372,333 16,594 566,932 54,020 637,546 16 Deferred income Group Charity 2025 2024 2025 2024 Balance at the beg inning of the year Amount released to income in the year Amount deferred in the yea r Balance at the end of the year 75,273 {67,786) 307,724 315,211 79,520 179,5201 75,273 75,273 6,623 16,6231 210,112 210,112 4,320 14,3201 6,623 6,623 Deferred income represents income relating to the 2025-26 Local Authority management fee, advance membership sales and private hire events that will take place in future financial years. 17 Designated Funds At 1 April 2024 New designatlon5 Utilised I released At 31 March 2025 Designated funds 247,500 247,500 37
Pitzhanger Manor & Gallery Trust Designated funds relate to a long-term sinking fund for future maintenance costs, development of the public programme and general operational support whilst commercial income streams develop. We envisage designated funds will be largely expended over 3- 5 years. 18 Restricted Income Funds At 1 April 2024 At 31 March 2025 Income Expenditur8 Restricted funds The Restoration project Lodge renovation project Walpole Friends Alan Baxter Foundation Wayfinding projects Collection management John Lyon's Charity John Lyon's Charity SHAF Art Acquisition fijnd 74,923 246,646 19,262 10,726 25,000 14,161 14,583 74,923 233,716 19,262 15,877 25.000 13,074 14.583 112,9301 17,000 111,8491 11,0871 135,0001 14,8001 11,1001 35,000 4,800 13.029 11.543 23,472 Garfield Weston Foundation Ealing High Streets Exhibition support.. -Arts Council England -Levy Gorvy Dayan -moniker Art Foundation -Rick Mather David Scra5e Foundation Chapman Charitable Trust Total restricted funds 50,000 5,000 120,8331 15,0001 29,167 20,752 24,478 2,785 20,000 3,000 195,844 17301 112,7191 12,7851 20,022 11,759 20,000 13,0001 1111,8331 416,844 500,855 The Restoration Project relates to funds raised in respect of the restoration and redevelopment of Pitzhanger Manor and Gallery. The Lodge Renovation fund relates to a discrete capital project to construct a new Volunteer and Community Space next to the Trust's office i n the Lodge bu ild i ng. Walpole Friends relates to funds for conservation. The Alan Baxter Foundation supports our Architecture in Schools programme. Collection management relates to the reframing and hanging of the Villa Negroni prints and creation of suitable environmental conditions John Lyon's Charity funded element5 ofthe Schools progr8mme Fu nds for wayfind ing projects are for future enhancement of street signage and d irection to the manor The Art Acquisition fund relates to the purchase of Julian Opie's.. Curly Hair. This artwork has been pu rchased and expend iture reflects the annual depreciation charge. The Garfield Weston foundation 5UPPOrts our public programme. The Chapman Charitable Trust provided support for our education programme. 38
Pitzhanger Manor & Gallery Trust Restricted Funds (comparative year) At 1 Aprll 2023 At 31 March 2024 Income Expenditure Restricted funds The Restoration project Lodge renovation project Walpole Friends Alan Baxter Fund Education fund The Wild Escape Wayfinding projects Collection management John Lyon's Charity John Lyon's Charity SHAF Exhibition programme Art Acqu isrtion fund Garden fund Total restricted funds 79,423 258.454 19,262 7.550 500 2.057 25,000 12.500 14,500} 111,808) 74,923 246,646 19,262 10,726 Is,000 3,000 1,500 111,8241 13,5001 13,5571 25,000 14.161 14,583 2,500 35,000 4,000 26,000 11,818 215 18391 120,4171 14,0001 126,0001 12751 12151 186,9351 11,543 404,746 99,033 416,844 19 Reconciliation of net incomelexpenditure to net cash flow Irom operating activities Group 2025 Group 2024 Net incoine / expend iture Add.. Depreciation Deduct.. interest income shown in investing activities Ilncreasel / decrease in Stock Decrease / lincreasel in debto rs (Decrease) / i ncrease in cred itors Net cash used in operating activitie5 12.483 17,983 (16,479) 1691) 176,189 (213,495) (24,010) 1279,6621 17,787 13,5571 9,871 175,8951 16,571 1324,8851 20 Analysis of net assets between funds 2025 Totsl 2024 Totsl U nrestricted Restricted Unrestricted Restricted Fund balances at 31 March 2025 are represented by.. Fixed assets Net current assets 13,853 460,178 474,031 220.179 280,676 500,855 234,032 740.854 974,886 18,948 526,611 545.559 233,067 183,777 416,844 252,015 710,388 962,403 39
Pitthanger Manor & Gallery Trust 21 Analysis of changes in net funds l (debt) The group had no debt in the year. 22 Operating Lease The Trust operates Pitzhanger Manor House and Gallery under a 25 year lease expiring on 25 March 2044. Lease payments due underthe lease are a peppercorn. 23 Ultimate Controlling Party The charity is the ultimate controlling party of its wholly-owned trading subsidiary, Pitzhanger Trading Limited (see note 121. Control is exercised through ownership of100% of the issued share capital and the ability to govern the financial and operating policies of the subsidiary. There is no higher parent entity or individual that exercises control over the charity. Accordingly the charity is the ultimate controlling party.