DoGUSign Envelope ID." 8A71 B933ACDB.8057.81FD.EOEOF7DSFAAC Registered Charity Number: 1155844 Stewart's Burnby Hall Gardens and Museum Trust CIO Trustees. Annual Report and Financial Statements for the year ended 31 December 2025
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Contents
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|Charity information ................................................................................................................ 1|
|Trustees|report ..................................................................................................................... 2|
|Independent Examiner|s report ................................................................................................ 6|
|Statement of financial activities ............................................................................................... 7|
|Balance sheet ........................................................................................................................ 8|
|Statement of cash flows.......................................................................................................... 9|
|Notes to the financial statements ............................................................................................. 10|
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CIO
(Reg. no. 1155844)
Charity information
Trustees
Mr C W Clubley Chair Mr R E Haynes Mrs N Jennings Mr G Scaife Mrs F M Snelson Mr P Williams Mr D C Lockwood Mr S McCann Ms S Clarke Ms S E Carden
Secretary
Mr R Wood
Charity number 1155844
Address for general enquiries/principal office 27 Mile End Park Pocklington York YO42 2TH
Independent Examiner
Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LS1 2HL
Bankers
Barclays Bank plc Parliament Street York YO1 1XD
Solicitors
Harrowells Market Place Pocklington York YO42 2AQ
Investment Advisors
Brewin Dolphin Apollo House Eboracum Way York YO31 7RE
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Trustees report for year ended 31 December 2025
Introduction
The Trustees are pleased to present their annual report together with the financial statements for the year ended 31 December 2025, which comply with the Charities Act 2011, the Articles of Association, 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
Constitution
now a linked charity.
The Trustees have taken advantage of the Charity Commission concession to link charities which have a common Trustee board allowing preparation of one set of financial statements for both charities.
Reference and Administrative Information
The Charity Information on page 1 forms part of this report.
Charitable Objectives
The object of the Trust is the provision and maintenance of Burnby Hall Gardens and Museum as a public park, ornamental gardens and museum for the benefit of the inhabitants of Pocklington and the neighbourhood for the purpose of improving the conditions of life for the said inhabitants.
The Trustees consider that these objectives and the activities explained below, provide benefit both to those planning our activities for the year we kept our T
Trustees
The following Trustees have held office since 1 January 2024:
Mr C W Clubley Chair Mr R E Haynes Mrs N Jennings Mr G Scaife Mrs F M Snelson Mr P Williams Mr D C Lockwood Mr S McCann Ms S Clarke Ms S E Carden
Governance
The Trust is administered by ten trustees, with two being co-opted by Pocklington Town Council. Co-opted members are appointed by resolution of the Trustees.
Between Trust meetings, day-to-day decisions are made by a Management Committee consisting of the Chair, Vice-Chair and one other Trustee, who meet with the Estate Manager, Assistant Estate Manager and Accountant. Decisions of the Management Committee, which meets quarterly, are endorsed at full meetings of the Trust.
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Trustees report for year ended 31 December 2025
Review of Activities
Owing to good weather at the beginning of 2025, the season started well. Prices were increased by an average of 10%. Visitor numbers have decreased from 2024, however the increase in admission charges helped to combat this decrease in visitors.
Redevelopment work continued around the Garden, with the restoration of the Lower Lake completed. 2025 also saw the re-soiling of the beds in the Upper Lake, with cobble stones placed upon them to prevent interference by the fish stock.
A full events and bands programme was planned and delivered. This comprised twelve Sunday concerts, Gift Aid takings, realised through Pass Holders and Day Ticket Sales were £24,845. This was a further improvement on the 2024 figure of £21k.
The Gift Shop and plant sales continued to perform well, with sales up by around 10%. The policy of streamlining stock to focus upon best-selling items continued help facilitate this.
We continue to work closely with Pocklington Town Council following their lease of Burnby Hall from the East Riding of Yorkshire Council. Regular liaison with the hall team ensure that our operational integrity is maintained. Work on the hall covenants continues to ensure that these are protected and we look forward to working closely with the hall team.
High visitor numbers, good weather at the beginning of the year, and continuous work on maintaining and enhancing our high horticultural stands have all contributed to a successful year. In addition, the award of a Yorkshire in Bloom Gold Award (best in category) further emphasised the hard work of the Gardens Team and Volunteers throughout the year. The increase in prices led to increased income which was very helpful in reducing pressure on the necessary wage increases for our staff.
Financial Review
Cash flows generated from operating activities amounted to £64,178 (2024 85,742). The net income before other gains and losses shown in the Statement of Financial Activities amounted to £63,384 (2024 net expenditure of £46,324).
The cash position at 31 December 2025 increased from £308,191 in 2024 to £330,297 in 2025. The £70,000 borrowed from the Permanent Endowment in 2020 is being repaid from general reserves over a 10-year period in equal interest free instalments.
The Trustees are satisfied that tight controls are being kept on costs in general.
Reserves Policy
The nature of the Trust's activities is such that there are large seasonal fluctuations in income. The low point of its cash reserves usually occurs at the end of March, prior to the summer season. The reserves policy of the Trustees is to aim to achieve a position where cash reserves amounting to six months estimated total expenditure are held at the end of March each year. Free reserves on 31 December 2025 were £305,160 (2024 - £285,879).
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Trustees report for year ended 31 December 2025
Fundraising
Section 162A of the Charities Act 2011 requires charities to make a statement regarding fundraising -performance grants and legacies.
In relation to the above, we confirm that all solicitations are managed internally, without the involvement of commercial participators, professional fundraisers or third parties. The day to day management of all income generated is delegated to the executive staff team who act under authority delegated by the Trustees.
We received no complaints in relation to our fundraising activity for the year under review.
Remuneration Policy
Our approach to remuneration is designed to ensure we can attract and retain talented and motivated people to run our operations efficiently and deliver our strategic goals. We aim to treat staff fairly and consistently across the organisation. Salaries are competitive and benchmarked with both the private and not for profit sectors. We oversee salaries to ensure we are competitive and in line with current employment practices. There is a system of staff appraisals to monitor performance.
Investments
The governing document provides for the trustees to invest monies held as part of the Permanent Endowment fund together with any monies not immediately required for use by the Trust. Investments are managed by the Trustees based on the recommendations of Brewin Dolphin, Investment Advisors.
Major Risks
There are two Risk Assessment registers in use by the Trust. The first one is mainly concerned with dayto-day operational activities whilst the second register covers the main strategic areas of:
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Governance and Management
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Finance
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Operational Risks
Each strategic area is broken down into specific risks and measured on a matrix covering:
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Likelihood
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Impact
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Total Risk
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Action to Reduce Risk Residual Risk
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Comment
We believe that by regularly reviewing the above at both management meetings and full Trust meetings we more than meet our risk assessment responsibilities.
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Trustees report for year ended 31 December 2025
accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the trustees and signed on its behalf by:
C W Clubley Chair of Trustees
Date
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Gardens and Museum Trust CIO
Trust CIO for the year ended 31 December 2025
This report is made solely to the Charity's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance Ac in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
n
section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jessica Lawrence FCA CTA
Azets Audit Services Limited
Chartered Accountants
12 King Street Leeds LS1 2HL
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Statement of Financial Activities for the year ended 31 December 2025
| Unrestricted | Restricted | Permanent | Total | Total | ||
|---|---|---|---|---|---|---|
| Notes | funds | funds | endowment | 2025 | 2024 | |
| £ | £ | **£ ** | £ | £ | ||
| Income from: | ||||||
| Grants and donations | ||||||
| Donations | 29,650 | - | - | 29,650 | 27,320 | |
| East Riding of Yorkshire Council | ||||||
| Grant | 1,373 | - | - | 1,373 | 5,000 | |
| Charitable activities | ||||||
| Operation of Garden and Museum | 491,836 | - | - | 491,836 | 510,008 | |
| Other trading activities | ||||||
| Other income | 4 |
156,775 | - | - | 156,775 | 142,030 |
| Investments | ||||||
| Investment income and interest | 4 | 32,709 | - | - | 32,709 | 37,359 |
| Total income | 712,343 | - | - | 712,343 | 721,717 | |
| Expenditure on: | ||||||
| Raising funds | 5 | 44,163 | - | 6,618 | 50,781 | 46,589 |
| Charitable activities | 5 | 571,531 | 26,647 | - | 598,178 | 628,804 |
| Total expenditure | 5 | 615,694 | 26,647 | 6,618 | 648,959 | 675,393 |
| Net income/(expenditure) before | ||||||
| other recognised gains and losses | 96,649 | (26,647) | (6,618) | 63,384 | 46,324 | |
| Realised and unrealised (losses)/gains on investments |
10 | - | - | 11,448 | 11,448 | 23,676 |
| Net income/(expenditure) | 96,649 | (26,647) | 4,830 | 74,832 | 70,000 | |
| Transfers between funds | (11,000) | - | 11,000 | - | - | |
| Net movement in funds | 85,649 | (26,647) | 15,830 | 74,832 | 70,000 | |
| Funds brought forward | 844,488 | 460,296 | 982,142 | 2,286,926 | 2,216,926 | |
| Funds carried forward | 16 | 930,137 | 433,649 | 997,972 | 2,361,758 | 2,286,926 |
All income and expenditure is derived from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 23 form part of these financial statements.
There were no recognised gains and losses for 2025 and 2024 other than those included in the Statement of Financial Activities
A fully detailed Statement of Financial Activities for the year ended 31 December 2024 is shown at note 19.
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Balance sheet as at 31 December 2025
| 2025 | 2024 | 2024 | |||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 8 | 938,500 | 969,064 | ||
| Investment property | 9 | 200,000 | 200,000 | ||
| Other investments | 10 | 878,604 | 822,816 | ||
| 2,017,104 | 1,991,880 | ||||
| Current assets | |||||
| Debtors | 11 | 21,301 | 14,107 | ||
| Stock goods for resale |
17,045 | 19,850 | |||
| Cash at bank and in hand | 330,297 | 308,191 | |||
| 368,643 | 342,148 | ||||
| Creditors: Amounts falling due | |||||
| within one year | 12 | (23,989) | (47,102) | ||
| Net current assets | 344,654 | 295,046 | |||
| Total assets less current liabilities | 2,361,758 | 2,286,926 | |||
| Funds of the Charity: | |||||
| Unrestricted | 13 | 930,137 | 844,488 | ||
| Restricted | 14 | 433,649 | 460,296 | ||
| Permanent endowment | 15 | 997,972 | 982,142 | ||
| Total funds | 16 | 2,361,758 | 2,286,926 |
The financial statements were approved by the trustees and were signed on its behalf by:
The notes on pages 10 to 23 form part of these financial statements.
C W Clubley Chair of Trustees
Date:
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Statement of cash flows for the year ended 31 December 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities: | ||
| Net cash generated by operating activities (see below) | 64,178 | 85,742 |
| Cash flows from investing activities: | ||
| Interest received | 12,199 | 8,658 |
| Dividends received | 13,070 | 21,261 |
| Investment property rental | 7,440 | 7,440 |
| Purchase of investments | (322,086) | (333,041) |
| Proceeds from sale of investments | 284,853 | 329,877 |
| Accrued income from Gilts | (7,107) | (5,479) |
| Disposal of subsidiary | - | 15,000 |
| Purchase of tangible fixed assets | (30,441) | (8,607) |
| Net cash used in investing activities | (42,072) | 35,109 |
| Change in cash and cash equivalents in the year | 22,106 | 120,851 |
| Cash and cash equivalents at the beginningof theyear | 308,191 | 187,340 |
| Cash and cash equivalents at the end of the year | 330,297 | 308,191 |
Reconciliation of net income to net cash flow from operating activities
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Net income / (expenditure) for the year | 74,832 | 70,000 |
| Depreciation charge | 60,221 | 61,175 |
| Dividends received | (13,070) | (21,261) |
| Interest received | (12,199) | (8,658) |
| Investment property rental | (7,440) | (7,440) |
| (Increase) in stock | 2,805 | (4,472) |
| Loss on disposal of fixed assets | 784 | - |
| (Gains) / losses on investments | (11,448) | (23,676) |
| (Increase) / Decrease in debtors | (7,194) | 1,336 |
| (Decrease) / increase in creditors | (23,113) | 18,738 |
| Net cash flow from operating activities | 64,178 | 85,742 |
The trust had no net debt in either the current or preceeding year.
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Notes to the Financial Statements for the year ended 31 December 2025
1. Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Company information
The address for general
enquiries is 27 Mile End Park, Pocklington, York, YO42 2TH.
Accounting convention
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
FRS 102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the investment portfolio and investment property at fair value. The principal accounting policies adopted are set out below.
Going concern
The trustees have prepared budgets and cash flows having regard to experience to date, cash and investment balances held and ongoing expenditure commitments and, as a consequence, at the time of approving the financial statements, the trustees are confident that the charity has adequate resources to continue in operational existence for the foreseeable future and not less than one year from the date of approval of these accounts.
Income
Income is the amount derived from ordinary activities, and stated after trade discounts and net of VAT. Income from all sources is recognised in full in the Statement of Financial Activities in the year in which it is receivable.
Income from government and other grants is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Income from the operation of the garden and museum includes season ticket sales, entrance fees, the sale of fish food and wedding income and is included in the period in which the charity supplies the goods or services.
Other income includes retail income, rent receivable for the café and other small sundry receipts and is recognised at point of sale or provision of service.
Expenditure
on investments. Expenditure is basis inclusive of any VAT that cannot be recovered and has been classified under headings that aggregate all costs related to the category.
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Notes to the Financial Statements for the year ended 31 December 2025
1. Accounting Policies (continued)
All direct costs have been allocated across the functional categories of resources expended in the SoFA. Where costs cannot be directly attributed to particular headings they have been apportioned on a basis consistent with the use of the resources.
Charitable activities include expenditure associated with the museum and gardens upkeep.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Fund accounting
Funds held by the Trust are either:
Unrestricted general funds these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Restricted funds these are funds that can only be used for particular restricted purposes within the objects of the Trust. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.
Permanent endowment funds represents those assets which must be held permanently by the Trust. Income arising on the endowment fund can be used in accordance with the objects of the Trust and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the endowment fund. Investment management charges and legal advice relating to the fund are charged against the fund. Charity Commission approval must be sought for transfers from the permanent endowment fund.
Pensions
The charity operates a defined contribution scheme for employees. Contributions are charged as an expense to the SoFA in the period in which they fall due.
Staff costs
The costs of short term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period.
received.
Investments
The investment portfolio is held to generate returns and gains for the charity and accordingly is designated Under this designation the portfolio is revalued at each period end to its fair value, as determined by reference to quoted market prices and values determined by independent fund managers, with any gains or losses going through the SoFA.
Investments in subsidiaries are stated at cost and the Trustees review the carrying value annually for indications of impairment.
Investment property
Investment properties which are properties held to earn rentals and/or for capital appreciation, are measured using the fair value model and are stated at their fair value at the reporting date. The surplus or deficit on revaluation is recognised in the SoFA.
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Notes to the Financial Statements for the year ended 31 December 2025
1. Accounting Policies (continued)
Fixed assets and depreciation
Tangible fixed assets, costing more than £500, are initially recognised at cost and are subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:
Buildings 4% Straight line Equipment 15% and 25% Straight line Assets under construction Not depreciated
No depreciation is provided on freehold land.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value and is recognised in the SoFA.
Financial instruments
The charity
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity held for working capital.
Stock
Stock represents bought in goods held for resale and is stated at the lower of purchase cost and net realisable value.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the SoFA. Reversals of impairment losses are also recognised in the SoFA.
Debtors
Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the SoFA.
Creditors, loans and provisions
Creditors, loans and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Notes to the Financial Statements for the year ended 31 December 2025
2. Critical accounting estimates and judgements
In the application of the charity trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The estimates and judgements which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.
Depreciation of tangible assets
Depreciation policies have been set according to management's experience of the useful lives of the assets in each category, something which is reviewed annually.
Valuation of investment properties
Investment properties are periodically revalued on an open market value basis. Management takes into account advice from third parties, including valuations performed externally for insurance purposes and by using all knowledge and information available. Any gains or losses arising on re-valuation are recognised through the statement of financial activities.
3. Taxation
a registered charity and as such is within the
meaning of Schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.
4. Analysis of investment and other income
| Other income | 2025 £ |
2024 £ |
|---|---|---|
| Retail sales and commissions | 111,459 | 99,769 |
| Café rent | 32,034 | 26,291 |
| Café utilities | 13,282 | 13,877 |
| Car park rent | - | 1,350 |
| Other income | - |
743 |
| 156,775 | 142,030 | |
| Investment income and interest | 2025 £ |
2024 £ |
| UK listed securities | 13,070 | 21,261 |
| UK cash deposits | 12,199 | 8,658 |
| Investment property rental | 7,440 | 7,440 |
| 32,709 | 37,359 |
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Notes to the Financial Statements for the year ended 31 December 2025
| 5. | Analysis of total expenditure | ||||
|---|---|---|---|---|---|
| Permanent | Total | ||||
| Year ended 31 Dcember 2025 | Unrestricted | Restricted | endowment | 2025 | |
| £ | £ | £ | £ | ||
| Investment management costs: | |||||
| Investment management fees | - | - | 6,618 | 6,618 | |
| - | - | 6,618 | 6,618 | ||
| Fundraising costs: | |||||
| Shop purchases | 44,163 | - | - | 44,163 | |
| 44,163 | - | - | 44,163 | ||
| Charitable activities (including museum | and gardens): | ||||
| Staff costs | 341,279 | - | - | 341,279 | |
| Other staff expenses | 6,117 | - | - | 6,117 | |
| Rates | 5,217 | - | - | 5,217 | |
| Insurance | 18,065 | - | - | 18,065 | |
| Fuel and light | 25,752 | - | - | 25,752 | |
| Cleaning | 9,717 | - | - | 9,717 | |
| Repairs and renewals | 10,221 | - | - | 10,221 | |
| Events expenses | 21,018 | - | - | 21,018 | |
| Printing, stationery, postage and advertising |
14,705 | - | - | 14,705 | |
| Telephone | 3,807 | - | - | 3,807 | |
| Computer costs | 7,343 | - | - | 7,343 | |
| Motor expenses | 1,834 | - | - | 1,834 | |
| Accountancy | 14,125 | - | - | 14,125 | |
| Legal and professional fees | 8,148 | - | - | 8,148 | |
| Bank and credit card charges | 17,200 | - | - | 17,200 | |
| Subscriptions | 2,094 | - | - | 2,094 | |
| Depreciation | 33,574 | 26,647 | - | 60,221 | |
| Garden and museum upkeep | 31,315 | - | - | 31,315 | |
| 571,531 | 26,647 | - | 598,178 | ||
| Total expenditure | 615,694 | 26,647 | 6,618 | 648,959 |
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Notes to the Financial Statements for the year ended 31 December 2025
| 5. | Analysis of total expenditure | ||||
|---|---|---|---|---|---|
| Permanent | Total | ||||
| Year ended 31 December 2024 | Unrestricted | Restricted | endowment | 2024 | |
| £ | £ | £ | £ | ||
| Investment management costs: | |||||
| Investment management fees | - | - | 6,895 | 6,895 | |
| - | - | 6,895 | 6,895 | ||
| Fundraising costs: | |||||
| Shop purchases | 39,694 | - | - | 39,694 | |
| 39,694 | - | - | 39,694 | ||
| Charitable activities (including museum | and gardens): | ||||
| Staff costs | 313,324 | - | - | 313,324 | |
| Other staff expenses | 6,702 | - | - | 6,702 | |
| Rates | 4,874 | - | - | 4,874 | |
| Insurance | 18,048 | - | - | 18,048 | |
| Fuel and light | 26,400 | - | - | 26,400 | |
| Cleaning | 9,255 | - | - | 9,255 | |
| Repairs and renewals | 12,333 | - | - | 12,333 | |
| Events expenses | 71,493 | - | - | 71,493 | |
| Printing, stationery, postage and advertising |
15,845 | - | - | 15,845 | |
| Telephone | 3,112 | - | - | 3,112 | |
| Computer costs | 8,547 | - | - | 8,547 | |
| Motor expenses | 1,731 | - | - | 1,731 | |
| Independent examination | - | - | |||
| Accountancy | 12,798 | - | - |
12,798 | |
| Legal and professional fees | 6,038 | - | - | 6,038 | |
| Bank and credit card charges | 16,639 | - | - | 16,639 | |
| Subscriptions | 3,907 | - | - | 3,907 | |
| Depreciation | 36,320 | 24,855 | - | 61,175 | |
| Garden and museum upkeep | 36,583 | - | - | 36,583 | |
| 603,949 | 24,855 | - | 628,804 | ||
| Total expenditure | 643,643 | 24,855 | 6,895 | 675,393 |
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Notes to the Financial Statements for the year ended 31 December 2025
6. Employment costs
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Staff costs comprise: | ||
| Wages and salaries | 304,540 |
286,144 |
| Social security costs | 27,179 | 15,664 |
| Pension costs | 12,560 | 11,516 |
| 341,279 | 313,324 |
Average number of employees: 15 (2024: 13).
No employee (2024: no employee) received remuneration amounting to more than £60,000.
The trustees received no remuneration, benefits or out of pocket expenses (2024: £nil).
The key management personnel of the Trust comprise the Estate Manager, the Assistant Estate Manager, and the Shop Manager. The total employee benefits of the key management personnel of the Trust were £79,498 (2024: £94,760).
7. Net movements in funds
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Is stated after charging: | ||||||
| 2,300 | 2,175 | |||||
| 3,500 | 3,300 |
16
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
8. Tangible fixed assets
| Land and | |||
|---|---|---|---|
| buildings | Equipment | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 January 2025 | 1,592,863 | 210,556 | 1,803,419 |
| Additions | 5,230 | 25,211 | 30,441 |
| Disposals | - | (8,258) | (8,258) |
| At 31 December 2025 | 1,598,093 | 227,509 | 1,825,602 |
| Depreciation | |||
| At 1 January 2025 | 642,269 | 192,086 | 834,355 |
| Charge for the year | 50,233 | 9,988 | 60,221 |
| On disposal | - | (7,474) | (7,474) |
| At 31 December 2025 | 692,502 | 194,600 | 887,102 |
| Net book values | |||
| At 31 December 2025 | 905,591 | 32,909 | 938,500 |
| At 31 December 2024 | 950,594 | 18,470 | 969,064 |
Included within land and buildings are gardens, which form part of the permanent endowment, with a cost of £166,239 (2024: £166,239) which have not been depreciated, in accordance with the accounting policy. Also included within land and buildings is work in progress of £5,230 (2024: £nil) relating to a pavilion which has not been depreciated, in accordance with the accounting policy.
9. Investment property
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Investment property (permanent endowment) | ||
| Market value at 1 January and 31 December 2025 | 200,000 | 200,000 |
| Historic cost of investment property | 42,353 | 42,353 |
Having taken professional advice from suitably a qualified independent valuer not connected to the charity, the investment property was revalued as at 31 December 2021 on an open market basis. The trustees believe there has been no material change in the value of the investment property in the year.
17
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
10. Other investments
| 0. Other investments |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Listed investments (permanent endowment): | ||
| Market value of listed investments at 1 January 2025 | 612,127 | 585,287 |
| Additions | 322,086 | 333,041 |
| Disposals | (284,853) | (329,877) |
| 649,360 | 588,451 | |
| Realised and unrealised (losses)/gains on investments | 11,448 | 23,676 |
| 660,808 | 612,127 | |
| Listed investments (general funds): | ||
| Fixed rate Gilts | 217,796 | 210,689 |
| Total investments | 878,604 | 822,816 |
| Historic cost of listed investments | 774,126 | 739,219 |
The charity had a wholly-owned subsidiary, , which was incorporated on 11 May 2017 and registered in England & Wales (company number 10766538) and undertook certain retail operations at the gardens. This company has now been dissolved.
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CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
| 11. Debtors |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Trade debtors | 4,967 | 6,250 |
| Prepayments and accrued income | 16,334 | 7,857 |
| 21,301 | 14,107 | |
| 12. Creditors: amounts falling due within one year |
||
| 2025 | 2024 | |
| £ | £ | |
| Trade creditors | 14,477 | 30,777 |
| Accruals | 8,646 | 8,321 |
| Other creditors | 866 | 8,004 |
| 23,989 | 47,102 | |
| 13. Unrestricted funds |
||
| 2025 | 2024 | |
| £ | £ | |
| Balance at 1 January 2025 | 805,488 | 777,414 |
| Net income for the year | 96,649 | 28,074 |
| Balance at 31 December 2025 | 902,137 | 805,488 |
| Loans from permanent endowment fund | ||
| Balance at 1 January 2025 | 39,000 | 50,000 |
| Transfer to permanent endowment fund | (11,000) | (11,000) |
| Balance at 31 December 2025 | 28,000 | 39,000 |
| Total unrestricted funds at 31 December 2025 | 930,137 | 844,488 |
19
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
14. Restricted funds
Movement in Funds
| As at 31 December 2025 | Balance | ||||
|---|---|---|---|---|---|
| Balance at | at 31 | ||||
| 1 January | December | ||||
| 2025 | Income | Expenditure | Transfers | 2025 | |
| £ | £ | £ | £ | £ | |
| Stewart Museum | 166,315 | - | (13,834) | - | 152,481 |
| Visitor Centre | 88,192 | - | (4,558) | - | 83,634 |
| National Lottery Heritage Fund - Restoration and Golden Jubilee Project |
204,933 | - | (8,255) | - | 196,678 |
| Other | 856 | - | - | - | 856 |
| 460,296 | - | (26,647) | - | 433,649 | |
| Movement in Funds | |||||
| As at 31 December 2024 | Balance | ||||
| Balance at | at 31 | ||||
| 1 January | December | ||||
| 2024 | Income | Expenditure | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| Stewart Museum | 180,149 | - | (13,834) | - | 166,315 |
| Visitor Centre | 90,957 | - | (2,765) | - | 88,192 |
| National Lottery Heritage Fund - Restoration and Golden Jubilee Project |
213,189 | - | (8,256) | - | 204,933 |
| Other | 856 | - | - | - | 856 |
| 485,151 | - | (24,855) | - | 460,296 |
Stewart Museum and Visitor Centre restricted funds relate to capital grants which were restricted in application to the building of the museum and visitor centre. The annual expenditure against these funds represents the depreciation charged against the grant funded elements of these capital projects.
The National Lottery Heritage Fund Restoration and Golden Jubilee Project relates to funding awarded to repair the lining of the lakes, replant the National Collection of Hardy Water Lillies, refurbishment of the rockery, an important original feature of the gardens, restoration of the Edwardian potting sheds and improvements to meeting room facilities.
20
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
| 15. Permanent endowment |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Balance at 1 January 2025 | 1,021,142 | 1,004,361 |
| Expenditure for the year | (6,618) | (6,895) |
| Realised and unrealised (losses)/gains on investments | 11,448 | 23,676 |
| Balance at 31 December 2025 | 1,025,972 | 1,021,142 |
| Loan to unrestricted funds | ||
| Balance at 1 January 2025 | (39,000) | (50,000) |
| Repaid from unrestricted funds | 11,000 | 11,000 |
| Balance at 31 December 2025 | (28,000) | (39,000) |
| Total permanent endowment fund | 997,972 | 982,142 |
| Gains/(losses) on permanent endowment investments | ||
| Balance at 1 January 2025 | 432,063 | 408,387 |
| (Losses)/gains on revaluations | 11,448 | 23,676 |
| Balance at 31 December 2025 | 443,511 | 432,063 |
Loans to unrestricted funds
During 2005 the Charity Commission gave permission for the Trust to transfer £80,000 from the permanent endowment fund to unrestricted funds for the purpose of improving its premises. To replace this loan the Trust is to set aside each year, until 2025, £4,000 of its income which must be reinvested as permanent endowment.
In 2019, the Charity Commission approved a transfer of £70,000 from the permanent endowment fund to unrestricted funds for the purpose of a café extension. This is repayable over a 10 year period.
21
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
16. Analysis of net assets between funds
| Permanent | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | endowment | Total | |
| £ | £ | £ | £ | |
| Fund balances at 31 December 2025: | ||||
| Tangible fixed assets | 379,181 | 393,080 | 166,239 | 938,500 |
| Investments | 217,796 | 860,808 | 1,078,604 | |
| Current assets | 329,149 | 40,569 | (1,075) | 368,643 |
| Current liabilities | (23,989) | (23,989) | ||
| Loan between funds | 28,000 | (28,000) | - | |
| Total net assets | 930,137 | 433,649 | 997,972 | 2,361,758 |
| Permanent | ||||
| Unrestricted | Restricted | endowment | Total | |
| £ | £ | £ | £ | |
| Fund balances at 31 December 2024: | ||||
| Tangible fixed assets | 308,920 | 460,296 | 199,848 | 969,064 |
| Investments | 210,689 | - | 812,127 | 1,022,816 |
| Current assets | 332,981 | - | 9,167 | 342,148 |
| Current liabilities | (47,102) | - | - | (47,102) |
| Loan between funds | 39,000 | - | (39,000) | - |
| Total net assets | 844,488 | 460,296 | 982,142 | 2,286,926 |
17. Related party transactions
Following the liquidation of the subsidiary during the prior year, a balance of £15,000 owed to the subsidiary and the corresponding £15,000 investment in the subsidiary were written off.
There have been no other related party transactions during the year (2024: £nil).
18. Pension fund
The charity operates a defined contribution pension scheme for employees. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
The pension cost represents contributions payable by the charity and amounted to £12,560 (2024: £11,516). There were no contributions outstanding at the year end (2024: £nil).
22
CIO
(Reg. no. 1155844)
Notes to the Financial Statements for the year ended 31 December 2025
19. Comparative Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted | Restricted | Permanent | Total | |
|---|---|---|---|---|
| funds | funds | endowment | 2024 | |
| £ | £ | **£ ** | £ | |
| Income from: | ||||
| Grants and donations | ||||
| Donations | 27,320 | - | - | 27,320 |
| East Riding of Yorkshire Council Grant | 5,000 | - | - | 5,000 |
| Charitable activities | ||||
| Operation of Garden and Museum | 510,008 | - | - | 510,008 |
| Other trading activities | ||||
| Other income | 142,030 | - | - | 142,030 |
| Investments | ||||
| Investment income and interest | 37,359 | - | - | 37,359 |
| Total income | 721,717 | - | 721,717 | |
| Expenditure on: | ||||
| Raising funds | 39,694 | - | 6,895 | 46,589 |
| Charitable activities | 603,949 | 24,855 | - | 628,804 |
| Total expenditure | 643,643 | 24,855 | 6,895 | 675,393 |
| Net income/(expenditure) before other | ||||
| recognised gains and losses | 78,074 | (24,855) | (6,895) | 46,324 |
| Realised and unrealised (losses)/gains | ||||
| on investments | - | - | 23,676 | 23,676 |
| Net income/(expenditure) | 78,074 | (24,855) | 16,781 | 70,000 |
| Transfers between funds | (11,000) | - | 11,000 | - |
| Net movement in funds | 67,074 | (24,855) | 27,781 | 70,000 |
| Funds brought forward | 777,414 | 485,151 | 954,361 | 2,216,926 |
| Funds carried forward | 844,488 | 460,296 | 982,142 | 2,286,926 |
23