Registered number: 10874451
Charity number: 1178403
THE RAMSBURY MANOR FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
CONTENTS
Page
Reference and admlnlstratlve detalls of the Company, Its Trustees and advlsers
Trustees. report
Independent auditors. report on the flnanclal statements
ststement of financial activitlOS
6-10
Balance sheet
12
ststement of cash flows
Notes to the financial statements
14-26

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED S APRIL 2025
Trustees
Lord Kakkar
Philip Perry
Diana Rawstron
Richard C18rk
Company registered
number
10874451
Charity registered
number
1178403
Registered office
Ramsbury Manor
Ramsbury
Marlborough
Wiltshire
SN8 2RG
Company secretary
Diana Rawstron
Independent auditors
Sumer Audilco Limited
14th Floor
33 Cavendish Square
London
W1GOPW
Page 1

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED S APRIL 2025
The Trustees present their annual report together with the audited financial statements of the Company for the 6
April 2024 to 5 April 2025. The Annual report serves the purposes of both a Trustees, report and a Directors,
report under company law. The Trustees confirm that the Annual report and financial statements of the
charitsble company comply with the current statutory requirements, the requirements of the charitable company's
governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021 leffeclive 1 January 20191.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Ramsbury Manor Estate was formerly In the ownership of the late Mr Harry Hyams. He died on 19
December 2015 and left the residue of his Estsle to The Capricorn Foundation, an unincorporated charitable
Irusl. 11 was Mr Hyams, wish that the Ramsbury Manor Estste and his collections of art, ceramics, furniture,
silver, clocks and other objets d'art housed there should be conserved and made available for public enjoyment
and education. As an unincorporated charity is not a suitable vehicle for running an operational heritage charity
with public access, The Capricom Foundation Trustees set up The Ramsbury Manor Foundation, a charitable
company limited by guarantee, for this purpose.
The objects of The Ramsbury Manor Foundation are..
lo preserve and conserve for the public benefit Ramsbury Manor, its archileclural heritage, gardens,
surrounding grounds and park land and contents being of artistic, historical, architectural, or
constructional merit,. and
lo advance the arts or education in particular by preserving and making available Ramsbury Manor and
Ils contents to the public for their academic study, educational purposes and appreciation.
The Ramsbury Manor estate was transferred to the Foundation on 13 November 2018 and arrangements were
made to enter into contracts of employment with estate workers formerfy in the employ of the late Mr Hyams with
effect from April 2019.
Page 2

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2025
Achievements and performance
a. Review of activities
Having been occupied as a private residence, there are no facilities for public access and conservation work was
needed on the Manor House and estate.
Work has continued on the internal refurbishment of the Manor House with the completion of the decant of the
contents to secure storage and an application for listed building consent for the opening up works to determine
what has to be done.
The second phase of the restoration of the walled garden was completed and a visit arranged for the Ramsbury
Horticultural Society to view the progress lo date. Produce from the garden is given lo a local charity for the
homeless. Work also started on the banks and revelments of the lake.
A review was made lo assess the energy requirements of the estate over the next 40 years including increased
power requirements and additional cabling for the Manor House and garden lo awommodate this. Technical
design work on the New Estate Yard was started.
The much-appreciated education programme for local primary schools was repeated. All the schools involved in
the 202312024 education days were invited back in National Tree Week in November to participate in planting a
new woodland area to be know as The King's Wood.
As access to the House is not possible al the moment the Trustees have agreed various loans from their
collection for exhibition. A Salvalor Rosa Self Portrait as Pas¢ariello and the William Holman Hunt painting of
Rienzi vowing lo obtain Justice for the Death of his Brother were on loan lo the National Gallery. A Girf Making
Nose Gays by Tomas Hiepes was on loan lo the Auckland Project.
The Trustees have had regard to the guidan￿ issued by the Charity Commission on public benefit and are
satisfied they have complied with the duty in Charities Act 2011 section 17151.
Financial review
. Going concem
After making appropriate enquirie5, the Trustee5 have a reasonable expectslion that the Company has adequate
resources to continue In operational existence for the foreseeable future. For this reason, they continue lo adopt
the going COn￿M basis in preparing the financial slatemenls. There are no material uncertainties regarding
going concern.
b. Reserves policy
The Trustees, policy is to hold sufficient undesignated reserves, primarily In the fomi of cash at bank, lo meet
day lo day expenditure requirements, topped up periodically by donations from The Capricom Foundation.
c. Principal risks and uncertainties
The principal risks and uncertainties for the charity are those of fire, flooding and theft. To help miligale against
these risks there is 24-hour security on the Estste, the Foundation owns a fire engine and specialist fire training
has been given lo security officers.
Page 3

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2025
d. Principal funding
The Ramsbury Manor Foundation is wholly funded by The Capricom Foundation Trustees who r￿ard this
project as their priority. An agreement is in place for The Capricom Foundation lo fund the agreed running Costs
of the estate and also agreed capital projects.
e. Financial review
The funds received from The Capricorn Foundation are designated for the agreed recurrent and capital
expenditure of The Ramsbury Manor Estate.
The totsl unrestricted funds al 5 April 2025 were £223,208k12024.. £222,244kl comprising designated funds of
£219,665k12024 £219,448kl and general funds of £3,543k12024.. £2,796kl.
Structure, governance and management
a. Constitution
The Ramsbury Manor Foundation is established as a company limited by Guarantee, registration number
10874451, and Is registered as a charity with the Charity Commission in England and Wales. The affairs of the
company are governed by ils Memorandum and Articles of Association of 19 July 2017 and its registered charity
number is 1178403.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
c. Related party relationships
The Trustees are also Trustees of The Capricorn Foundation.
d. Financial risk management
The Trustees have assessed the major risks lo which the Company is exposed, in particular those related lo the
operations and finan￿$ of the Company, and are satisfied that systems and procedures are in pla￿ to mitigate
exposure to the major risks.
e. Trustees. meetings
The Trustees meet monthly, both alone and with their senior estate staff and professional advisers.
Members. liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the
Company in the event of winding up.
Page 4

THE RAMSBURY MANOR FOUNDATION
IA company IlThlted by uuaranteg)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5APRIL 2025
statement Of Tru¥tog$' responslbllltles
The TTUSteB8 (who 8re also Ihe directors of the Company for the purposes of company18w) are ￿sponSible for
pTepa￿ng the Trustees. report and the financial 51alemenls In accordance wSlh applicable law and United
Kingdotn Accounling Slandards (United Kingdorn Generally Aceepted Account5ng Praclicel.
Company law requires the Trustees Io Prepare financial slalernenls foT each financial . Under cornpany law. the
Trustees must not approve the financial slalem8nl8 unless th8y a18 satisfied that they give a true and lair WIEW of
the slate ol affaiTS of the Cornpany and of its incoming resources and application of re5Durces. including its
income and expendlture. for that period. In preparing these financial staternents, the Trustees are ￿qUired to..
select Sul￿ble accounting policies and then apply them conslstenlly.,
observg. Ihp. mglhndx xnd prlnr.iplps tif thA P.hariliEs SORP IFRS 1021..
make judgments and a￿ountIng estlmates Ihal are reasonable and prudent.,
stale whether 8pplicable UK Accounting Standards IFRS 1021 have been followed, subject to any rnaterial
epartures disclosed and explained in the financial slalements;
prepare the finanual slalemenls on the going eoncem b3515 unless It is inappropriate lo presume thal the
Companywill conllnue in buslness.
The Trustees are responsible for keeping adequate aGcDuntlnu re¢ords that are suffici8nt to show and explaln
the Companws tian52ctlons and dis¢lose with reasonable accuracy at any tlme the financi81 position of the
Company and enable them lo ensuie that the financial statements comply wllh the Companle5 Acl 2006. They
are a150 re8pon¥ible for Safeguarding the assets of the Comp8ny and hence for taking Teasonable 8lep8 for the
pievenlion and detection of fraud and other Irregularltle5.
Di$¢108ure of Informatlon to audltors
Each ol Ihe persor$8 who are Truslee5 al the lime when this Trustees, rEPOrt Is approved has confirmed Ihal..
50 far as that Trustee Is aware, th8re is no relevant audit information of whlch the charilws auditors are
unawar8, and
that Trustee has taken all the steps that ought to have been 18ken 88 8 Trustee in order to be aware of
any relevant audit information and to e5tabllsh thal the charills auditors are aware of that infomiation.
Audltors
The auditors, Surner Auditco Limlled, have inisicated thelr wllllnoness to continue in offlc8. The deslgnated
Trustees wlll propose a motion reappolnting the èudltors at a meeting of the Tru51ees.
Approved by order of tho mtt1nber3 of the board of Truateea and signcd on thclr bchalf by:
Lord Kakkar
Trustee
Date..
.2olS.
Page 5

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RAMSBURY MANOR FOUNDATION
Oplnlon
We have audited the financial statements of The Ramsbury Manor Foundation Ithe 'charitable company'l for the
year ended 5 April 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of
cash flows and the related notes, including a summary of significant accounting policies. 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 Stsndard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi￿1.
In our opinion the financial statements..
give a true and fair view of the slate of the charitable company's affairs as at 5 April 2025 and of ils
incoming resources and application of resources, including its income and expenditure for the year then
ended.,
have been properfy 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 accordan￿ with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability lo
continue as a going concern for a period of al least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going con￿rn are described in the
relevant sections of this report.
Page 6

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RAMSBURY MANOR FOUNDATION
ICONTINUED}
Other Informatlon
The other infomialion comprises the information included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contsined within the
Annual report. Our opinion on the financial statements does not cover the other information and, except lo the
extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is lo read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misststemenl in the financial
statements themselves. 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 regard.
Oplnlon on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, report for the financial year for which the financial statements are
prepared is consistent with the financial ststements.
the Trustees, report has been prepared in accordan￿ with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its environment obtsined in the
course of the audit, we have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion".
8dequ8te accounting records have not been kept, or retums adequate for our audit have not been
ceived from branches not visited by us", or
the financial statements are 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 lo 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.
Page 7

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RAMSBURY MANOR FOUNDATION
ICONTINUED}
Responslbllltles of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the
charitable company for the purposes of company lawl 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 ne￿SSary lo enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial ststemenls, the Trustees are responsible for assessing the charitable company's ability
lo 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 charitable company or to cease
operations, or have no realistic alternative but lo do so.
Audltors. responslbllltles for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial ststemenls as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misststemenl when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial ststemenls.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, oudined above, lo delect material misstalemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below..
In order to identify and assess the risks of material misslatemenls, including fraud and non-complian￿ with laws
and regulations that could be expected lo have a material impact on the financial statements, we have
considered..
the results of our enquiries of management and those charged with governan￿ of their assessment of the
risks of fraud and Irregularities.,
the nature of the company. including its management structure and control systems (including the
opportunity for management lo ovetride such conlrolsl",
management's incentives and opportunities for fraudulent manipulation of the financial stalemenls," and
the environment in which il operates.
We 81so considered UK tax and pension legislation and laws and regulations relating to employment and the
preparation and present8tion of the financial statements such as the Companies Act 2006 and the Charities Act
2011.
Based on this understanding we identified the following matters as being of significance to the entity".
laws and regulations considered to have a direct effect on the financial statements including UK financial
reporting standards, Company Law, and Charity Law.,
management bias in selecting accounting policies and determining estimates.,
the liming of the recognition of income.,
the split of income and expenditure between funds,. and
the valuation of heritage and tangible fixed assets.
Page 8

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE RAMSBURY MANOR FOUNDATION
ICONTINUED}
We communicated the outcomes of these discussions and enquiries, as well as consideration as to where and
how fraud may occur in the entity, to all engagement team members.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and
non-compliance with laws and regulations) comprised..
enquiries of management and those charged with governance as lo whether the entity complies with such
laws and regulations, and discussion with the same regarding any known or suspected inStsn￿$ of non-
compliance.,
enquiries with the same concerning any actual or potenti81 litigation or claims",
inspection of ￿levant legal correspondence",
assessment of matters reported to management and the result of the subsequent investigation,.
obtaining an understanding of the relevant controls.,
obtaining an understanding of the policies over the recognition of income and testing their implementation
during the year.,
reviewing lemis of grants received in the year.,
review of donations made for compliance with the trust deed.,
review of bank statements and funds movement lo ensure income and expenditure is being allocated
correctly",
challenging assumptions made by management in their specific accounting policies and estimates, in
particular in relation lo the impairment of heritage assets and tangible fixed assets,.
reviewing the financial slalemenls for Complian￿ with the relevant disclosure requirements,.
performing analytical procedures to identify any unusual or unexpected relationships or unexpected
movements In account balances which may be indicative of fraud.,
reviewing the minutes of trustees meetings,. and
identifying and testing joutnal entries, in particular, any journ81 entries posted with unusual account
combinations or crediting revenue or cash.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities,
including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entills
onlrols, and the nature, timing and exlenl of the audit procedures performed. Irregularities that result from fraud
might be inherently more difficult to delect than irregularities that result from error. As explained above, there is
an unavoidable risk that material misstatements may not be detected, even though the audit has been planned
and performed in accordan￿ with ISAS IUKI.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 9

THE RAMSBURY MANOR FOUNDATION
IA Company Ilrnited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE RAM5BURY MANOR FOUNDATION
ICONTINUEDI
U5* of our report
This report is made solely to the charitable cornpany's members, as a btsdy, In accordance with Chapter 3 of Part
16 of the Cornpanles Act 2006. Our audll work has been undertaken 50 thBt we might $18te to the charitable
cornpanls members those mallers we are required to state to thern In an Auditors. report and tor no other
purpose. To the fullest exient peTmitled by law, we do not 8ccepl Dr assume responsibility 10 anyone other than
the charitable co
pany and ils members. as a body, for our audlt Wofk, lor thls wport, or for the opinions wp
have lomied.
Davld Purnfrey
for and on behal
SumEr Audltco Llmited
Statutory Auditors
14th Floor
33 Cavendish Squ3r8
London
W1G OPW
2¥ . 0[4/¢y￿kAr l(Jl-I
A Isenlor statutory audl
Date..
Page 10

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED S APRIL 2025
Unrestricted
funds
2025
£000
Total
funds
2025
£000
Total
funds
2024
£000
Note
Income from:
Donations and legacies
Investments
Other income
5,196
129
30
5,196
129
30
4,686
114
24
Total income
5,355
5,355
4,824
Expenditure on:
Charitsble activities
4,391
4,391
3,845
Total expenditure
4,391
4,391
3,845
Net movement In funds
964
964
979
Reconclllatlon of funds:
Tot81 funds brought forward
Nel movement in funds
222,244
964
222,244
964
221,265
979
Total funds carrled forward
223,208
223,208
222,244
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 26 form part of these financial statements.
Page11

THE RAMSBURY MANOR FOUNDATION
IA company Ilmlted by guarantee)
REGISTERED NUMBER- IOB74451
BALANCE SHEET
ASATS APRIL 2025
2025
£ODO
2024
£000
Nots
Fixed assèts
Tangible fixed gsset5
Herltage a5S81
10
2,733
216.838
217,076
219,759
219.571
Current assets
Debtor3
Cash at bank ond In hand
12
100
2,999
3,716
3,716
3,16S
Current liabilities
Creditors.. Bmounts falllng due within one
year
13
{2671
14921
Net cuvr8nt assets
3,449
2,673
Total nèt assets
223,208
222,244
Charity funds
Unrestricted funds
15
223.208
222,244
Total fund
223,208
222,244
The TruateE¥ a¢knowlcdgc their respongibilQies for eomplying with thè reqiiirp.mAnts nf the Act wllh rèspect lo
accounting records and preparailon of finan(ial slatemenl5.
The financial stalernents have been wepared In accordance wlth the provtslons applicab￿ to enltles sytyect to
Ihe small companies regime.
The flnancial slalements were approved and aulhorised lor issue by the Trustees and sigllBd on thelr behalf by..
Lord Kakkar
Trustee
Datè..
.x',. tsts.
Th8 notes on pago5 14 to 26 form part of these financial statements.
Page 12

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED S APRIL 2025
2025
£000
2024
£000
Note
Cash flows from operating activities
Nel cash received in operating activities
17
826
1,149
Cash flovts from investing activities
Investment income
Capital refurbishment of heritage assets
129
12381
114
11,6231
Net cash used in investing activities
11091
11,5091
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
717
13601
3,359
2,999
Cash and cash equivalents at the end of the year
18
3,716
2,999
The notes on pages 14 to 26 form part of these financial statements
Page 13

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Accountlng pollcles
1.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Ramsbury Manor Foundation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are Initially recognised al historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Company has enlillemenl lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Where the donated good is a fixed asset, il is measured al fair value, unless il is impractical lo
measure this reliably, in which case the cost of the item to the donor should be used. The gain is
recognised as income from donations and a corresponding amount is included in the appropriate
fixed asset class and depreciated over the useful economic life in accordance with the Company's
accounting policies.
Income lax recoverable in relation to donations re￿iVed under Gift Aid or deeds of covenant is
recognised at the lime of the donation.
Other income is recognised in the period in which il is receivable and to the extent the goods have
been provided or on completion of the servi￿.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in selllemenl and
the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs
of each activity are made up of the total of direct costs and shared costs, Including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned bel￿een those activities on a basis consislenl with
the use of reSoUr￿s. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on direcdy undertaking the activities which further the
Companls objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Company,. this is nomially upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
Page 14

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Accountlng pollcles Icontlnuedl
1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £10,000 or more are capilalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred lo bring a tsngible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following bases..
Freehold propety
No depreciation is charged for the year ended
5 April 2025 onwards
Renovations to freehold propety- 20 years straight line
Motor vehicles
250/0 written down value
Fixtures and fillings
100/0 straight line
Computer equipment
4 years straight line
Freehold properties are no longer depreciated, as the residual value is not expected lo fall below the
original cosudonated value. However, renovation costs capilalised within freehold property are
depreciated on a straight-line basis over 20 years.
For further detsils on the change in depreciation policy during the year, refer to Note 2 - Change in
Accounting Eslimale.
1.6 Herltage assets
The heritage assets were acquired by way of donation and the initial valuation, as prepared by
appropriate professionals has been treated as deemed cost.
Al each reporting date the Company assesses whether there is any indication of impairment. If such
indication exists, the recoverable amount of the asset is determined lo be the higher of its fair value
less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount
eX￿edS the recoverable amount.
The heritsge assets are lo be presetved and managed by staff al The Ramsbury Manor, overseen by
the Trustees. The charitable company has a list of assets forming the estate and the Trustees are
working lo make access available lo special interest groups and the public.
1.7 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
Page 15

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Accountlng pollcles Icontlnuedl
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
1.9 Llabllltles and provlslons
Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates il will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
1.10 Flnanclal Instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.11 Fund accountlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes lo the financial
ststemenls.
Investment income, gains and losses are allocated to the appropriate fund.
Change In Accountlng Estlmate- Depreclatlon of Freehold Property
During the year, the charity reviewed its depreciation policy for freehold properties. Previously, freehold
properties were depreciated on a straight-line basis over 50 years. Following this review, the charity
determined that the buildings themselves are no longer subject to depreciation as the residual value is not
expected to fall below the original cosvdonated value. Instead, only the renovation costs associated with
the properties will be depreciated over a period of 20 years on a straight-line basis.
This change in estimate has been applied prospectively in accordance with applicable accounting
standards. The impact of this change on the current yearfs financial statements is a reduction in
depreciation expense compared lo the previous policy.
Page 16

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Income from donatlons and legacles
Unrestricted
funds
2025
£000
Total
funds
2025
£000
Total
funds
2024
£000
Donations
5,196
5,196
4,686
Investment income
Unrestricted
funds
2025
£000
Total
funds
2025
£000
Total
funds
2024
£000
Bank interest
129
129
114
Analysis of expenditure on charitsble activities
Summary by fund type
Unrestricted
funds
2025
£000
Total
2025
£000
Total
2024
£000
Estate expenses
4,391
4,391
3,845
Anatysis of expenditure by activities
Activities
undertaken
directly
2025
£000
Support
costs
2025
£000
Total
funds
2025
£000
Total
funds
2024
£000
Estate expenses
4,141
250
4,391
3,845
Page 17

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Analysls of expendlture by actlvltles Icontlnuedl
Analysls of dlrect costs
Total
funds
2025
£000
Total
funds
2024
£000
Actlvities
2025
£000
Costs incurred in running the Ramsbury Manor Estate
Wages and salaries
3,716
425
3,716
425
3,225
377
4,141
4,141
3,602
Anatysis of support costs
Total
funds
2025
£000
Total
funds
2024
£000
Activities
2025
£000
Depreciation
Governance costs
50
50
93
200
200
150
250
250
243
Auditors. remuneration
2025
£000
2024
£000
Fees payable lo the Company's auditor for the audit of the Company's
annual accounts including irrecoverable VAT
36
33
Page 18

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Staff costs
2025
£000
2024
£000
Gross wages and salaries
Employer Nl contributions
Pension costs- defined contribution schemes
387
31
346
25
425
377
The average number of employees during the year was 1412024.. 141.
No employees received total employee benefits of more than £60,000 in the current year or the prior year.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefils12024 - £NILI.
During the year ended 5 April 2025, expenses tolalling £1,300 were reimbursed to 1 Trustee12024 £
2,099 10 3 Trustees).
Page 19

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
10. Tanglble flxed assets
Freehold
property
£000
Motor Fixtures and
vehicles
fittings
£000
£000
Computer
equipment
£000
Total
£000
Cost or valuation
At 6 April 2024
2,955
165
96
30
3,246
At 5 April 2025
2,955
165
96
30
3,246
Depreciation
At 6 April 2024
Charge for the year
345
21
115
12
30
10
23
513
so
At 5 April 2025
366
127
40
30
563
Net book value
At 5 April 2025
2,589
38
56
2,883
At 5 April 2024
2,610
50
66
2,733
Page 20

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
11. Herltage assets
Assets recognlsed at cost
Manor
furniture,
contents,
garden
statuary &
bronzes
2025
£000
Ramsbury
Manor
Estate
2025
£000
Heritage
cars and
boats Works of art
2025
2025
£000
£000
Total
2025
£000
Carrying value at 6 April 2024
Additions
36,610
238
37,832
6,882
135,514
216,838
238
36,848
37,832
6,882
135,514
217,076
The heritage assets were acquired by way of donation and the initial valLJalion was treated as deemed
osl, as permitted by section 18.18 of the Charities SORP IFRS 1021.
The Ramsbury Manor was last valued by an external valuer, Savills, on December 2015 and their
valuation was based on inspection and reference lo market data. The other heritage assets were all
valued by qualified external valuers in 2015 or 2016, with the ex￿ptIon of the heritage cars and boats
which were valued inlemally in 2016 with referen￿ to market data.
A review of these assets has been undertaken to ensure that they maintain their value. 11 is the opinion of
the Trustees that there have been no significant impairments lo the value of these assets during the year.
Anatysis of heritage asset transactions
2025
£000
2024
£000
2023
£000
2022
£000
2021
£000
Purchases
Ramsbury Manor Estate
Donatlons
238
1,623
359
60
2,730
Ramsbury Manor Estate
195
Totsl addltlons
238
1,623
359
255
2,730
Page 21

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
12. Debtors
2025
£000
2024
£000
Due within one year
Other debtors
166
166
13. Creditors: Amounts falling due within one year
2025
£000
2024
£000
Trade creditors
Other laxalion and social security
other creditors
197
161
Accruals and deferred income
57
321
267
492
14.
Financial instruments
2025
£000
2024
£000
Financial assets
Financial assets measured at fair value through Income and expenditure
3,716
2,999
2025
£000
2024
£000
Flnanclal Ilabllltles
Financial liabilities measured at amortised cost
12671
14921
Financial assets measured at fair value through income and expenditure comprises of cash al bank and in
hand.
Financial liabilities measured al amortised cost comprises of trade and other creditors.
Page 22

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
15. Statement of funds
Statement of funds - current year
Balance at 6
April 2024
£000
Transfers Balance at S
inlout
April 2025
£000
£000
Income Expenditure
£000
£000
Deslgnated funds
Ramsbury Manor Estate
219,448
1211
238
219,665
General funds
General funds
2,796
5,355
14,3701
12381
3,543
Total funds
222,244
5,355
14,3911
223,208
Statement of funds - prior year
Balance at
1 April 2023
£000
Transfers
Balance at
inlout 5 April 2024
£000
£000
Income Expenditure
£000
£000
Designated funds
Ramsbury Manor Estate
217,884
1591
1,623
219,448
General funds
General funds
3,381
4,824
13,7861
11,6231
2,796
Totsl funds
221,265
4,824
13,8451
222,244
Page 23

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
15. Statement of funds (contlnuedl
All funds are unrestricted.
Deslgnated Funds
The Ramsbury Manor Estste
this fund represents the Ramsbury Manor, ils contents and the
surrounding gardens and cottages which makes up the total Ramsbury Manor Estate, which is
designated to be maintained and preserved for public appreciation.
General Funds
The general funds are used to meet both the direct and support costs of maintaining, developing and
preserving The Ramsbury Manor Estate for public enjoyment.
16.
Analysis of net assets between funds
Unrestricted Unrestricted
designated
general
funds
funds
2025
2025
£000
£000
Total
funds
2025
£000
Total
funds
2024
£000
Tangible fixed assets
Heritage assets
Current assets
2,589
217,076
2,683
217,076
3,716
12671
2,733
216,838
3,165
14921
3,716
12671
Creditors due within one year
219,665
3,543
223,208
222,244
Page 24

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
17. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2025
£000
2024
£000
Nel income for the year las per Stslemenl of Financial Acliviliesl
979
Adjustments for:
Depreciation charges
Investment income
Decreaselllncreasel in debtors
IDecreaselllncrease in creditors
50
93
11291
166
12251
11141
11001
291
Net cash provided by operating activities
826
1,149
18. Analysis of cash and cash equivalents
2025
£000
1,016
2,700
2024
£000
299
2,700
Cash in bank
Notice deFX)Sits
Total cash and cash equivalents
3,716
2,999
19. Analysls of changes In net debt
At 6 April
2024 Cash flows
£000
At 5 April
2025
£000
£000
2,999
Cash al bank and in hand
717
3,716
2,999
717
3,716
Page 25

THE RAMSBURY MANOR FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
20. Related party transactlons
During the year, cash donations of £5,196,000 12024.. £4,686,000) were re￿iVed from The Capricorn
Foundation.
During the year, fees of £19,11412024.' £26,174) were payable lo a firm of solicitors for professional and
administration services, a fimi for which a Trustee acts as a consultsnt.
Page 26