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2024-12-31-accounts

The Attingham Trust for the Study of Country Houses and Collections in Britain

Annual report and accounts

31 December 2024

Charity Registration Number 262819

Contents

Reports

Reports
Reference and administrative details of
the charity, its patrons, trustees
and advisers 1
Report of the trustees 4
Independent auditor’s report 11
Accounts
Statement of financial activities 16
Comparative statement of financial
activities 17
Balance sheet 18
Statement of cash flows 19
Principal accounting policies 20
Notes to the accounts 24

The Attingham Trust for the Study of Country Houses and Collections in Britain

Reference and administrative details of the charity, its patrons, trustees, and advisers

Patrons H M Ambassador to Washington
The Duke of Buccleuch & Queensberry KT, KBE,
CVO, DL, FSA, FRSE, FRSGS
Dr Thomas P Campbell
Professor Sir David Cannadine FBA, FRSL, FSA
Sir Timothy Clifford
The Lord Crathorne KCVO, KSTJ, FRSA, FSA
The Marquess of Cholmondeley KCVO, DL
The Duke of Devonshire KCVO, CBE, DL
Judith Goodison FSA
The Marquis of Lansdowne LVO, DL
Rosemary Lomax-Simpson
Sir Jonathan Marsden KCVO, FSA
Sir Hugh Roberts GCVO, FSA
The Rt. Hon. the Lord Swire KCMG, PC
Honorary President Sir John Lewis OBE
Trustees Timothy Cooke OBE
Diana Berry
Wolf Burchard (appointed 24 April 2024)
Sir Robert Hildyard
Sarah Medlam (resigned 24 April 2024)
Dounia Nadar (appointed 13 November 2024)
Adrian Sassoon
Dame Rosalind Savill DBE, FSA, FBA (resigned
13 November 2024)
Council Members Dr Adriano Aymonino (elected 24 April 2024)
Beth Carver Wees
Errol Clark (resigned 13 November 2024)
Dr Ben Cowell FSA
Helen Dorey MBE, FSA
Dr Jane Eade FSA
Tim Knox FSA
Rebecca Lyons FSA
James Rothwell FSA
Annabel Westman FSA (appointed 13 November
2024)
Dr Rubert Goulding (appointed 24 April 2024)
Sarah Medlam (appointed 24 April 2024)
Executive Director Dr Helen Jacobsen FSA
Treasurer Ewa Manias FCCA

The Attingham Trust for the Study of Country Houses and Collections in Britain 1

Reference and administrative details of the charity, its patrons, trustees, and advisers

Course Directors and Coordinators

The Attingham Summer School David Adshead FSA (Co-director)
Tessa Wild FSA (Co-director)
Lorna Gartside / Sabrina Silva (Co-ordinator)
Royal Collection Studies Dr Helen Jacobsen FSA (Director)
Sara Heaton / Beatrice Goddard (Co-ordinator)
The Attingham Study Programme – Tessa Wild FSA (Director)
Arts and Crafts Lorna Gartside (Co-ordinator)
Short Course Paris – Court, Culture Elizabeth Jamieson (Director)
and the Horse Rita Grudzień (Co-ordinator)
Postal address 70 Cowcross Street
London
EC1M 6EJ
Charity registration number 262819
Auditor Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL
Bankers HSBC Bank plc
76-78 King’s Road
London
SW3 4TZ

The Attingham Trust for the Study of Country Houses and Collections in Britain 2

Reference and administrative details of the charity, its patrons, trustees, and advisers

Investment managers BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue London EC2V 2DL M & G Securities Limited M & G House Victoria Road Chelmsford CM1 1FB Rathbones Group plc 8 Finsbury Circus London EC2M 7AZ Solicitors Eversheds LLP Senator House 85 Queen Victoria Street London EC4V 4JL

The Attingham Trust for the Study of Country Houses and Collections in Britain 3

Report of the trustees Year to 31 December 2024

The trustees present their report together with the accounts of The Attingham Trust for the Study of Country Houses and Collections in Britain (known as “The Attingham Trust” (the Trust)) for the year to 31 December 2024.

The accounts have been prepared in accordance with the accounting policies set out on pages 20 to 23 of the attached accounts and comply with the Trust’s governing document, applicable laws 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 United Kingdom and Republic of Ireland (FRS 102).

The year ended 31 December 2024 is the final reporting period of the charitable trust, as with effect from midnight on 1 January 2025, the activities, assets and liabilities of the charity were transferred as a going concern to The Attingham Trust for the Study of Historic Houses and Collections in Britain (Registered Charity Number: 1210957) (the CIO).

Introduction

The charitable objectives of the Trust are as follows:

Activities, specific objectives, and relevant policies

The charity runs a programme of intensive residential and non-residential study courses which provides those who work in the heritage sector the ability to engage with houses, palaces, gardens and collections through focused, on-site study.

Applications for the courses are competitive. Participants include museum curators, architectural historians, conservators, historic house professionals and owners, art market professionals and academics from around the world. The Attingham scholarship programme continues as an integral element of the courses offered by the charity.

In setting the charity’s objectives and planning its activities, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.

The Attingham Trust for the Study of Country Houses and Collections in Britain 4

Report of the trustees Year to 31 December 2024

Activities, specific objectives, and relevant policies (continued)

The Trust’s investment policy is to provide a sufficient total return, in a relatively predictable manner, in order to fund the approximate level of expenditure envisaged by the trustees in accordance with the objectives laid out in the Rules.

A regular review of the investments takes place to ensure that the portfolio provides a spread of risk and balance between equity and fixed interest investments. The various types of investment in the portfolio are compared to benchmarks as agreed between the trustees and their advisers.

The charity’s investments experienced net gains during the year to 31 December 2024 of £141,497 (2023: net gains of £178,672). The trustees are satisfied that their investment policy remains appropriate for the long term, but they will continue to monitor the investments on an ongoing basis during 2025 due to the continuing impact of economic and political uncertainties on investment markets.

Achievements and performance

In 2024, the Trust ran four courses for a total of 112 heritage professionals. Participants came from around the world: Sweden, Australia, UK, USA, India, the Czech Republic, Germany, Denmark, Italy, the Netherlands, Portugal, Belgium, Ireland, Austria, France, Oman, Japan, Poland, Canada and Singapore. Many of the participants attended on scholarship funding provided by generous individuals, trusts and foundations and the trustees continue to be grateful to all those who contribute to the on-going funding of the Trust and its courses.

The 71st Attingham Summer School took place in June and July and was based in Sussex, the Midlands and Wiltshire, allowing for exploration of neighbouring counties. It visited 27 houses and gardens over 16 days and benefited from the input of more than 80 lecturers, tutors and property staff. The course was attended by 40 participants. This year’s Royal Collection Studies, based at Cumberland Lodge in Windsor Great Park, attracted 30 heritage professionals from four continents and visited both inhabited and uninhabited royal palaces to study the architecture and collections therein. Run in conjunction with The Royal Collection Trust, the course benefitted from unparalleled access to the artworks that form the Royal Collection. The Attingham Study Programme was themed around the Arts and Crafts movement in England, visiting houses and gardens in Sussex, Surrey, Gloucestershire, Worcestershire and London and attracting 20 international Arts and Crafts specialists. The final course was based in Paris and was a shorter, five-day programme themed around European courtly culture and the influence of the horse.

Continuing the work Attingham has done with the National Trust, two more short courses were run for participants from its curatorial team. In May a two-day programme centred on Burton Constable in Yorkshire and in November two days were spent studying the architecture and collections at Ham House. The differing ownership of the three houses that have been the focus of these National Trust courses over the two years added another layer of discussion.

The Attingham Trust for the Study of Country Houses and Collections in Britain 5

Report of the trustees Year to 31 December 2024

Achievements and performance (continued)

In May, Sarah Medlam stepped down after ten years as a trustee and was replaced by Dr Wolf Burchard, also a museum professional. In November, Dame Rosalind Savill resigned her position as trustee due to ill health and the trustees were saddened to hear of her subsequent death at the end of the year. She had been connected to Attingham for fifty years, first as a participant on the Summer School and then as a lecturer, advisory council member and trustee. The trustees would like to acknowledge formally her commitment to Attingham and their gratitude for all that she did for the trust. In November, Dounia Nadar was confirmed as a new trustee. Sarah Medlam, Dr Rubert Goulding and Annabel Westman were elected to the advisory council. Errol Clarke resigned from the advisory council and was replaced by Dr Adriano Aymonino.

The trustees are grateful to all those who volunteer their time and advice to support the Trust’s activities.

Financial review

Results for the period

A summary of the results for the year is given on page 16 of the attached accounts.

Total income for the year amounted to £638,396 (2023: £687,944). Expenditure during the year totalled £562,860 (2023: £554,690). Net income before investment gains, therefore, was £75,536 (2023: £133,254). The net income and net increase in funds, after accounting for net investment gains of £141,491 was £217,027 (2023: net income and net increase in funds, after accounting for net investment gains of £178,672 was £311,926).

Reserves policy and financial position

Reserves policy

Within unrestricted reserves the Trust holds designated funds for the specific purpose of generating income towards annual scholarships. The total of these designated funds amounts to £2,497,470 (£2,385,712:2023). Trustees consider that the General Fund of £250,000 as sufficient free reserves which exceed a minimum of three to six months of unrestricted charitable expenditure. Trustees continue to keep the Trust’s reserves policy under review and to seek income generating opportunities as they arise. Within unrestricted reserves the Trust holds designated funds for the specific purpose of generating income towards annual scholarships. The total of these designated funds amounts to £2,497,470 (£2,385,712:2023). Trustees consider that the General Fund of £250,000 as sufficient free reserves which exceed a minimum of three to six months of unrestricted charitable expenditure. Trustees continue to keep the Trust’s reserves policy under review and to seek income generating opportunities as they arise.

Financial position

The balance sheet at 31 December 2024 shows total funds of £3,769,436 (2023: £3,552,409) representing investments of £3,536,314 (2023: £3,195,179) and net current assets of £232,670 (2023: £356,627).

The Attingham Trust for the Study of Country Houses and Collections in Britain 6

Report of the trustees Year to 31 December 2024

Financial review (continued)

Reserves policy and financial position (continued)

Financial position (continued)

Total funds include permanently endowed funds of £185,009 (2023: £185,285) being monies received from The Monument Trust to fund a Summer School scholarship in memory of Simon Sainsbury and monies received for the Sansovino Fund to fund scholarships in the future. The purpose of the funds and an analysis of their movements are set out in note 14 to the accounts.

Funds totalling £836,505 (2023: £730,869) are restricted. These comprise the John Cornforth Memorial Fund, the Peter and Wilhelmina Minet Scholarship Fund, The Monument Trust Fund, the J. Paul Getty Junior Charitable Trust Fund, the Simon Sainsbury Fund, the Sir Geoffrey de Bellaigue Scholar Fund, the Basil Samuel Charitable Trust Fund, the Caroline Rimell Fund, the Giles Waterfield Memorial Fund, the Leche Trust Scholarship Fund, the 70th Anniversary Scholarship Fund, the Attingham Scholarship Fund, the Oliver Ford Foundation Scholarship Fund, the Radcliffe Trust Scholarship Fund, the Albert Dawes Educational Fund, the Drue Heinz Charitable Trust fund and other funds. The purpose of the funds and an analysis of their movements are set out in note 15 to the accounts.

Also included in total funds is an amount of £2,497,470 (2023: £2,386,652) which has been designated, or set aside, by the trustees for specific purposes as described in note 16 to the accounts.

General funds of the charity at 31 December 2024 total £250,000 (2023: £250,000). The trustees consider this level of general funds is adequate.

Future plans

With effect from midnight on 1 January 2025, the activities, assets and liabilities of the charity were transferred as a going concern to The Attingham Trust for The Study of Historic Houses and Collections in Britain, a newly incorporated CIO (Charity Registration Number 1210957) (the CIO).

Following the transfer, the Charitable Trust no longer carries out any activities and will remain dormant for the foreseeable future. It is the intention of the trustees to make an application to the Charity Commission to remove the Charitable Trust from the Central Register of Charities in the future but as yet, no decision has been made.

The CIO shall continue the work of the Charitable Trust, with its mission being to advance the education of the community at large in public and domestic architecture, paintings, sculpture and the decorative arts in the United Kingdom. Its international study courses will continue to provide those who work in the heritage sector the ability to engage with historic houses, palaces, gardens and collections through focused, on-site study.

The Attingham Trust for the Study of Country Houses and Collections in Britain 7

Report of the trustees Year to 31 December 2024

Future plans (continued)

Attingham’s courses also provide unparalleled opportunities to develop professional relationships around the world and this aspect will continue to be strengthened through alumni events and facilitating networks. Attingham promotes an equal, inclusive, open and intellectually stimulating environment in which everyone can benefit from shared experiences and enjoy common interests. A major benefit of the courses is the ability to learn and debate with colleagues from diverse and varied backgrounds and thus build understanding of other cultures and approaches.

Governance, structure, and management

Governance

The Attingham Trust is governed by Rules adopted on 13 December 1982, as subsequently amended, and is registered under the Charities Act 2011 - Charity Registration No. 262819.

Trustees

Trustees are appointed in accordance with the Rules and in accordance with agreed policy guidelines.

The trustees who served during the year were as follows:

Name Timothy Cooke OBE (Chairman) Diana Berry Dr Wolf Burchard Appointed 24 April 2024 Sir Robert Hildyard Sarah Medlam Resigned 24 April 2024 Dounia Nadar Appointed 13 November 2024 Adrian Sassoon Dame Rosalind Savill DBE, FSA, FBA Resigned 13 November 2024

Trustees’ responsibilities

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial period which give a true and fair view of the state of affairs of the charity and of its income and expenditure for that period. In preparing these accounts, the trustees are required to:

The Attingham Trust for the Study of Country Houses and Collections in Britain 8

Report of the trustees Year to 31 December 2024

Governance, structure, and management (continued)

Trustees’ responsibilities (continued)

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 accounts comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the Rules. 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 financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

Key management personnel

The day-to-day management of the charity is handled by the Executive Director, the Treasurer and the Executive Assistant. The Executive Director and Treasurer report directly to the Chairman on a regular basis and they comprise the key management of the charity in charge of directing and controlling, running, and operating the charity.

The trustees receive no remuneration for their work as trustees. The Executive Director, the Treasurer and the Executive Assistant are employed by the charity.

The course directors, course coordinators and visiting lecturers are remunerated for services provided under a contract for services. The fees paid to them are based on normal commercial terms.

Risk management

The trustees have assessed the major risks to which the charity is exposed and those relating to the specific operational areas of the charity, its investments and its finances. The trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

The charity’s principal asset comprises listed investments, the value of which is dependent on movements in UK and world stock markets and the related volatility caused by worldwide events. The investments are managed by reputable investment managers who adhere to a policy agreed by the trustees. The trustees review the investment managers’ performance on a regular basis.

The Attingham Trust for the Study of Country Houses and Collections in Britain 9

Report of the trustees Year to 31 December 2024

Governance, structure, and management (continued)

Raising funds

The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. It takes care with both the tone of its communication and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of professional fundraisers. The charity undertakes to react and to investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year, the charity received no complaints about its fundraising activities.

Approved by the trustees and signed on their behalf by:

Timothy Cooke OBE Trustee

Date of approval: 29/05/2025

The Attingham Trust for the Study of Country Houses and Collections in Britain 10

Independent auditor’s report 31 December 2024

Independent auditor’s report to the trustees of The Attingham Trust for the Study of Country Houses and Collections in Britain

Opinion

We have audited the accounts of The Attingham Trust for the Study of Country Houses and Collections in Britain (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies, and the notes to the accounts. 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’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’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 to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

The Attingham Trust for the Study of Country Houses and Collections in Britain 11

Independent auditor’s report 31 December 2024

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 misstatement in the accounts 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained 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 the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 8 and page 9 the trustees are responsible for the preparation of the accounts 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 preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the charity’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 charity or to cease operations, or have no realistic alternative but to do so.

The Attingham Trust for the Study of Country Houses and Collections in Britain 12

Independent auditor’s report 31 December 2024

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts 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 assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:

The Attingham Trust for the Study of Country Houses and Collections in Britain 13

Independent auditor’s report 31 December 2024

Auditor’s responsibilities for the audit of the accounts (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from 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 regulations to enquiry of the trustees and other management and the 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 accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

The Attingham Trust for the Study of Country Houses and Collections in Britain 14

Independent auditor’s report 31 December 2024

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL

5 June 2025

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

The Attingham Trust for the Study of Country Houses and Collections in Britain 15

Statement of financial activities Year to 31 December 2024

Notes Un-
restricted
funds
£		 Restricted
funds
£		 Endowment
funds
£		 2024
Total
£		 2023
Total
£
Income from:
Donations
1
Investments and interest receivable
2
Charitable activities
. Course fees
3
. Short course fees
Other miscellaneous sources
Total income
Expenditure on:
Raising funds
. Investment manager fees
Charitable activities
. Courses to study selected historic
houses and collections
4
. Short course expenditure
. Attingham Society
Total expenditure
Net income (expenditure) for the year
before net investment gains (losses)
Net investment gains (losses)
11
Net income (expenditure)
7
Transfer between funds
Net movement in funds
7
Reconciliation of funds:
Fund balances brought forward at
1 January 2024
Fund balances carried forward at
31 December 2024		 5,640
40,050
397,742
8,658
1,470		 164,245
20,591
—
—
—		 —
—
—
—
—		 169,885
60,641
397,742
8,658
1,470		 200,846
54,920
423,736
4,319
4,123
453,560 184,836 — 638,396 687,944
356
556,053
4,308
2,143		 —
—
—
—		 —
—
—
—		 356
556,053
4,308
2,143		 335
549,585
1,924
2,846
562,860 — — 562,860 554,690
(109,300)
141,767		 184,836
—		 —
(276)		 75,536
141,491		 133,254
178,672
32,467
79,200		 184,836
(79,200)		 (276)
—		 217,027
—		 311,926
—
111,667
2,636,255		 105,636
730,869		 (276)
185,285		 217,027
3,552,409		 311,926
3,240,483
2,747,922 836,505 185,009 3,769,436 3,552,409

With effect from midnight on 1 January 2025, the activities, assets and liabilities of the charity were transferred as a going concern to The Attingham Trust for The Study of Historic Houses and Collections in Britain (Charity Registration Number 1210957) (the CIO). It is anticipated that the charity shall be dormant after the date of the transfer.

All recognised gains and losses are included in the statement of financial activities above.

Comparative information split by fund for the year to 31 December 2024 is provided on the next page.

The Attingham Trust for the Study of Country Houses and Collections in Britain 16

Comparative statement of financial activities Year to 31 December 2023

Notes Un-
restricted
funds
£		 Restricted
funds
£		 Endowment
funds
£
2023
Total
£
Income from:
Donations
1
Investments and interest receivable
2
Charitable activities
. Course fees
3
. Short course fees
Other miscellaneous sources
Total income
Expenditure on:
Raising funds
. Investment manager fees
Charitable activities
. Courses to study selected historic
houses and collections
4
. Short course expenditure
. Attingham Society
Total expenditure
Net income for the year before net investment gains
(losses)
Net investment gains (losses)
11
Net income (expenditure)
7
Transfer between funds
Net movement in funds
7
Reconciliation of funds:
Fund balances brought forward at 1 January 2023
Fund balances carried forward at 31 December 2023		 136,038
33,796
423,736
4,319
4,123		 64,808
21,124
—
—
—		 —
—
—
—
—		 200,846
54,920
423,736
4,319
4,123
602,012 85,932 — 687,944
335
549,585
1,924
2,846		 —
—
—
—		 —
—
—
—		 335
549,585
1,924
2,846
554,690 — — 554,690
47,322
180,204		 85,932
—		 —
(1,532)		 133,254
178,672
227,526
83,890		 85,932
(83,890)		 (1,532)
—		 311,926
—
311,416
2,324,839		 2,042
728,827		 (1,532)
186,817		 311,926
3,240,483
2,636,255 730,869 185,285 3,552,409

The Attingham Trust for the Study of Country Houses and Collections in Britain 17

Balance sheet 31 December 2024

Notes 2024
£		 2024
£		 2023
£		 2023
£
Fixed assets
Investments
11
Tangible fixed assets
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due
within one year
13
Net current assets
Total net assets
The funds of the charity:
Funds and reserves
Capital funds
Permanent endowment funds
14
Income funds
Restricted funds
15
Unrestricted funds:
. Designated funds
16
. Tangible fixed asset fund
. General fund		 47,957
240,085		 3,536,314
452		 95,548
300,133		 3,195,179
603
3,536,766
232,670		 3,195,782
356,627
288,042
(55,372)		 395,681
(39,054)
3,769,436 3,552,409
185,009
836,505
2,497,470
452
250,000		 185,285
730,809
2,385,712
603
250,000
3,769,436 3,552,409

Approved by the trustees and signed on their behalf by:

Timothy Cooke OBE Trustee

Date of approval: 29/05/2025

The Attingham Trust for the Study of Country Houses and Collections in Britain 18

Statement of cash flows Year to 31 December 2024

Notes
2024
Total
£		 2023
Total
£
Cash flows from operating activities:
Net cash provided by operating activities
A
Cash flows from investing activities:
Investment income and interest received
Purchase of tangible fixed assets
Purchase of Investments
Proceeds from sale of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January 2024
Cash and cash equivalents at 31 December 2024
B

78,955		 19,253


60,641
—
(199,786)
439		 54,920
(804)

—
336
**(138,706) ** 54,452

(59,751)

300,135
 73,705
226,430

240,384		 300,135

Notes to the statement of cash flows for the year to 31 December 2024

A. Reconciliation of net movement in funds to net cash provided by (used in) operating activities

2024
Total
£		 2023
Total
£
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation
Gains on investments
Investment income and interest receivable
Decrease (increase) in debtors
Increase in creditors
Net cashprovided by operating activities		 217,027
151
(141,491)
(60,641)
47,591
16,318		 311,926
201
(178,672)
(54,920)
(63,114)
3,832
78,955 19,253

B. Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
2024
£		 2023
£
Cash at bank and in hand
Cash held by investment managers
Total cash and cash equivalents		 240,085
299		 300,133
2
240,384 300,135

No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net cash (debt).

The Attingham Trust for the Study of Country Houses and Collections in Britain 19

Principal accounting policies Year to 31 December 2024

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 31 December 2024 with comparative information provided in respect to the year ended 31 December 2023.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees and management to make significant judgements and estimates.

The key areas in the accounts where such judgements and estimates have been made is in respect to the apportionment of support costs between charitable activities.

Assessment of going concern

With effect from midnight on 1 January 2025, the activities, assets and liabilities of the charity were transferred as a going concern to The Attingham Trust for The Study of Historic Houses and Collections in Britain (Charity Registration Number 1210957), a newly registered CIO.

Following the transfer, the Charitable Trust no longer carries out any activities and will remain dormant for the foreseeable future. Whilst it is possible that the trustees shall make an application to the Charity Commission to remove the Charitable Trust from the Central Register of Charities in the future, as yet, no decision has been made in this regard.

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts. On the basis that the activities of the charity will continue with the successor charity, and that the assets and liabilities were transferred on a going concern basis, the trustees of the charity have concluded that it is appropriate for the accounts to be prepared on a going concern basis. The trustees are of the opinion that the charity and its successor charity will have sufficient resources to meet their liabilities as they fall due.

The Attingham Trust for the Study of Country Houses and Collections in Britain 20

Principal accounting policies Year to 31 December 2024

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the provider of the income has specified that the income is to be expended in a future accounting year.

Income comprises donations, investment income, interest receivable, course fees and related income, and miscellaneous income.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Investment income is recognised once the dividend or equivalent has been declared and notification has been received of the amount due.

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.

Fee income is recognised when the charity is entitled to receipt – usually at the date on which the relevant course commences. Course fees and related income includes fees payable by those attending courses together with scholarships received in respect to specific courses. Fees and related income include contributions received from restricted funds for scholarships, which are awarded at the discretion of the Trust.

Other miscellaneous income is measured at fair value and accounted for on an accruals basis.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

The Attingham Trust for the Study of Country Houses and Collections in Britain 21

Principal accounting policies Year to 31 December 2024

Expenditure recognition (continued)

All expenditure is stated inclusive of irrecoverable VAT.

Support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures, provision of office services and equipment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

All expenditure on support and governance is attributed directly to the charitable activities of running the courses to study selected historic houses and collections and the Attingham Society. Any apportionment of such costs to the provision of donations is considered negligible.

Tangible fixed assets

All assets costing more than £500 and with an expected useful life exceeding one year are capitalised.

Depreciation is provided on a straight-line basis on assets held at the end of the year at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment 25%

All tangible fixed assets relate to computer equipment.

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives, or other complex financial instruments.

As noted above, the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

The Attingham Trust for the Study of Country Houses and Collections in Britain 22

Principal accounting policies Year to 31 December 2024

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result 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 estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund structure

The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the trustees. The designated funds are monies set aside and designated for specific purposes by the trustees.

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions.

The permanent endowment funds are monies which must be held indefinitely. The income generated from the funds may be applied towards specific or general purposes as appropriate.

Foreign currencies

Assets and liabilities are translated at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

Pensions

The charity offers its employees membership of a defined contribution pension scheme administered by the National Employment Savings Trust (NEST). Contributions to the scheme are debited to the statement of financial activities in the year in which they are payable to the scheme. The assets of the scheme are held by an independent corporate trustee, whose activities are governed by the National Employment Savings Trust Order 2010, made by the Secretary of State in exercise of powers confirmed under the Pensions Act 2008.

The Attingham Trust for the Study of Country Houses and Collections in Britain 23

Notes to the accounts Year to 31 December 2024

1 Income from: Donations

2
 Donations Donations Unrestricted
funds
£


Restricted
funds
£		 Endowment
funds
£		 2024
Total
£
5,640
164,245		 — 169,885
5,640
164,245		 — 169,885
Donations Unrestricted
funds
£


Restricted
funds
£		 Endowment
funds
£		 2023
Total
£
136,038
64,808		 — 200,846
136,038
64,808		 — 200,846
Income from: Investments and interest receivable
Unrestricted
funds
£
Restricted
funds
£
Income from listed investments
32,890
20,591
Bank interest
7,160
—
40,050
20,591
Endowment
funds
£
2024
Total
£
53,481
7,160
60,641
Income from listed investments
Bank interest		 —
—
—
Unrestricted
funds
£
30,933
2,863
33,796		 Restricted
funds
£
21,124
—
21,124
Endowment
funds
£
2023
Total
£

52,057

2,863

54,920
Income from listed investments
Bank interest		 —
—
—

3 Income from: Course fees

Income from: Course fees
2024
£
209,528
64,435
138,060
—
64,919
476,942
(79,200)
397,742		 2023
£
Summer School
Study Programme
Royal Collection Studies
London House Programme
Short Course
Scholarships awarded (note 15)
Total funds		 199,671
142,063
128,959
36,933
—
507,626
(83,890)
423,736

The Attingham Trust for the Study of Country Houses and Collections in Britain 24

Notes to the accounts Year to 31 December 2024

4 Expenditure on: Courses to study selected historic houses and collections

Unrestricted funds Unrestricted funds
2024
Total
£		 2023
Total
£
11,691
116,275
197,826
25,837
43,334
7,609
27,137
429,709
119,876
549,585
Direct Costs
Lecturers’ fees and expenses
Officers’ fees and expenses
Accommodation and meals
Transport
Entrance charges
Marketing, printing, postage, telephone and stationery
Miscellaneous expenses
Support costs (note 5)		 9,425
102,261
228,706
29,736
22,377
6,322
21,269
420,096
135,957
556,053

The direct costs relating to each of the courses were as follows:

Summer
School
£
Study
Programme
£
Royal
Collection
Studies
£
5,899
1,784
1,162
42,902
20,442
21,583
99,382
22,877
77,243
12,585
6,155
7,731
14,446
4,831
2,512
2,936
1,031
1,545
4,667
1,530
12,486
182,817
58,65
124,262


Short
Course
£
Short
Course
£		 Total
2024
£
Lecturers’ fees and expenses
Officers’ fees and expenses
Accommodation and meals
Transport
Entrance charges
Marketing, printing, postage,
telephone and stationery
Miscellaneous expenses
580
580

17,334
17,334

29,204
29,204

3,265
3,265

588
588

810
810

2,586
2,586
9,425

102,261

228,706

29,736

22,377
6,322

21,269

54,367
54,367
420,096
Summer
School
£


Study
Programme
£		 Royal
Collection
Studies
£



London
House
Programme
£



Total
2023
£
Lecturers’ fees and expenses
Officers’ fees and expenses
Accommodation and meals
Transport
Entrance charges
Marketing, printing, postage, telephone and
stationery
Miscellaneous expenses		 6,363
41,117
77,518
10,865
20,331
2,868
4,440
1,463

44,168

42,363

6,412

14,122

1,919

4,263		 1,604
18,404
74,832
6,812
1,605
2,427
17,699
2,261

12,586

3,113

1,748

7,276

395

735
11,691

116,275

197,826

25,837

43,334

7,609

27,137
163,502
114,710		 123,383
28,114
429,709

The Attingham Trust for the Study of Country Houses and Collections in Britain 25

Notes to the accounts Year to 31 December 2024

5 Support costs

The support costs and the basis of their allocation were as follows:

Course
expenditure
**£ **
Attingham
Society
£
Total
2024
£		 Basis of
apportionment
Publicity, publications, website
development and maintenance
Printing, postage, books,
stationery, and office supplies
Fees (including staff costs)
Depreciation
Bank charges
Other support costs
Governance costs (note 6)		 5,100
871
88,074
150
782
19,115
**21,865 **
20

3

339

1

3

74

84
5,120

874

88,413

151

785

19,189

21,949		 Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
**135,957 **
524
136,481
Course
expenditure
_£ _
Attingham
Society
£
Total
2023
£		 Basis of
apportionment
Publicity, publications, website
development and maintenance
Printing, postage, books,
stationery, and office supplies
Fees (including staff costs)
Depreciation
Bank charges
Other support costs
Governance costs (note 6)		 6,358
1,288
86,806
200
741
14,535
_9,948 _
33

7

449

1

4

75

52
6,391

1,295

87,255

201

745

14,610

10,000		 Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
Pro rata expenditure
_119,876 _
621
120,497

6 Governance costs

Governance costs
2024
£		 2023
£
Professional fees
Annual report and meeting expenses
Total funds		 20,652
1,297		 8,520
1,480
21,949 10,000

7 Net income (expenditure) and net movement in funds

This is stated after charging (crediting):

2024
Total
£
76,490
151
9,400
(1,108)		 2023
Total
£
Staff costs (note 8)
Depreciation
Auditor’s remuneration (including VAT)
. Statutory audit fees
.. Current period
.. Previousperiod		 59,058
201
10,000
(1,020)

The Attingham Trust for the Study of Country Houses and Collections in Britain 26

Notes to the accounts Year to 31 December 2024

8 Staff costs and key management personnel

Staff costs and key management personnel
2024
Total
£		 2023
Total
£
Wages and salaries
National insurance
Pension contribution		 73,718
1,690
1,082		 58,094
319
645
76,490 59,058

The charity employed 4 members of part-time staff during the year (2023: four member of part time staff).

No employees earned £60,000 or more during the year (2023: none).

The day-to-day management of the charity is handled by the Executive Director, the Treasurer and the Executive Assistant. The Executive Director and Treasurer report directly to the Chairman on a regular basis and they comprise the key management of the charity in charge of directing and controlling, running, and operating the charity. The total amount of employee benefits (including taxable benefits and employer’s pension contributions and national insurance contributions) received by key management personnel for their services to the charity was £65,787 (2023: £45,955).

9 Trustees and related party transactions

No trustees received any remuneration for their services as trustees during the period (2023: none). £743 total expenses were reimbursed to one trustee during the year to 31 December 2024 (2023: £1,406 to three trustees).

Donations totalling £9,605 were received from four trustees (2023: £6,610 from four trustees).

£1,035 (2023: £898) was paid to Flintham Hall as part of the Summer School course of which one trustee is a member of the board.

Additionally, during the year to 31 December 2024, £100,000 (2023: £nil) was received from the Drue Heinz Charitable Trust towards scholarships for 10 years from 2025 onwards. Sir Robert Hildyard's wife is a trustee of Drue Heinz Charitable Trust.

There were no other related party transactions during the year to 31 December 2024 (2023: none).

10 Taxation

The Trust is a registered charity and, therefore, is not liable to income tax or capital gains tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

The Attingham Trust for the Study of Country Houses and Collections in Britain 27

Notes to the accounts Year to 31 December 2024

11 Investments

Investments
2024
£		 2023
£
Listed investments
Fair (market) value at 1 January 2024
Additions
Disposals (see below)
Unrealised gains (losses) on revaluation
Fair (market) value at 31 December 2024
Cash held by investment managers
Cost of listed investments at 31 December 2024
3,195,177
199,786
(445)
141,497		 3,016,841

—

(334)
178,670
3,536,015
299
3,195,177

2
3,536,314
3,195,179
1,664,326 1,464,986

Disposals at book value included above are made up of the following:

2024
£		 2023
£
Proceeds
(Gains) losses
Disposals at book value		 439
6		 336
(2)
445 334

Listed investments held at 31 December 2024 comprised:

Market
value
£		 Percentage
of
portfolio
%
9%
64%
16%
11%
UK common investment funds
. Charities UK Bond Fund A, Income Units
. Charities UK Equity Fund A, Accumulation Units
. M & G Charifund, Equities Investment Fund for Charities, Income Units
. Rathbones Unit Trust Management		 329,019
2,270,279
558,008
378,710

12 Debtors

Debtors
2024
£		 2023
£
Prepayments for courses
Other prepayments
Accrued income
Other debtors		 43,901
4,036
—
20		 57,153
4,329
30,088
3,978
47,957 95,548

The Attingham Trust for the Study of Country Houses and Collections in Britain 28

Notes to the accounts Year to 31 December 2024

13 Creditors: amounts falling due within one period

Creditors: amounts falling due within one period
2024
£		 2023
£
Accruals and deferred income
Expense and sundry creditors
Deferred income at 1 January 2024
Released during the year
Resources deferred in the year
Deferred Income at 31 December 2024		 49,993
5,379		 34,439
4,615
55,372 39,054
—
—
11,198		 86
(86)
—
11,198 —

14 Permanent endowment funds

Permanent endowment funds
At 1
January
2024
£		 Income
£		 Investment
losses
£		 At 31
December
2024
£
The Simon Sainsbury Endowment Fund
The Sansovino Fund		 155,628
29,657		 —
—		 (113)
(163)		 (155,515)
(29,494)
185,285 — (276) (185,009)
At 1
January
2023
£		 Income
£		 Investment
losses
£		 At 31
December
2023
£
The Simon Sainsbury Endowment Fund
The Sansovino Fund		 156,983
29,834		 —
—		 (1,355)
(177)		 155,628
29,657
186,817 — (1,532) 185,285

The Simon Sainsbury Endowment Fund comprises monies donated by The Monument Trust to be held in order to generate income to fund a scholarship for the Summer School in memory of Simon Sainsbury.

The Sansovino Fund comprises monies to be held in order to generate income to fund scholarships for those attending courses organised by the charity.

The Attingham Trust for the Study of Country Houses and Collections in Britain 29

Notes to the accounts Year to 31 December 2024

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and legacies held on trust to be applied for specific purposes:

purposes:
At 1
January
2024
£



Income
£

Transfers
£		 At 31
December
2024
£
John Cornforth Memorial Fund
Peter and Wilhelmina Minet Scholarship Fund
The Monument Trust Fund
J Paul Getty Junior Charitable Trust Fund
Simon Sainsbury Fund
The Sir Geoffrey de Bellaigue Scholar Fund
The Basil Samuel Charitable Trust Fund
The Caroline Rimell Fund
The Giles Waterfield Memorial Fund
The Leche Trust
The 70thAnniversary Scholarship Fund
Attingham Scholarship Fund
Oliver Ford Foundation
Radcliffe Trust
Albert Dawson Education Trust
Drue Heinz Charitable Trust
Other funds		 97,009
88,345
274,399
19,727
82,968
10,826
63
2,671
80,771
5,037
2,983
14,596
—
13,000
—
—
38,474
1,405

1,280

3,975

286

11,207

157

1

39

1,170

73

43

6,657

4,600

188

9,600

100,000

44,155
(500)

—

(3,000)

(1,500)

(4,300)

(2,600)

—

—

(1,500)

(4,000)

—

(3,900)

(4,600)

(3,500)

(9,600)

—

(40,200)		 97,914
89,625
275,374
18,513
89,875
8,383
64
2,710
80,441
1,110
3,026
17,353
—
9,688
—
100,000
42,429
730,869
184,836
(79,200)		 836,505
At 1
January
2023
£



Income
£

Transfers
£		 At 31
December
2023
£
John Cornforth Memorial Fund
Peter and Wilhelmina Minet Scholarship Fund
The Monument Trust Fund
J Paul Getty Junior Charitable Trust Fund
Simon Sainsbury Fund
The Sir Geoffrey de Bellaigue Scholar Fund
The Basil Samuel Charitable Trust Fund
The Caroline Rimell Fund
The Giles Waterfield Memorial Fund
The Leche Trust
The 70th Anniversary Scholarship Fund
Attingham Scholarship Fund
Oliver Ford Foundation
Radcliffe Trust
Other funds		 96,982
86,976
285,377
19,421
76,119
12,775
948
4,771
79,519
12,781
11,738
8,103
—
—
33,317
1,527

1,369

4,492

306

10,849

201

15

75

1,252

5,201

185

6,493

4,300

13,000

36,667
(1,500)

—

(15,470)

—

(4,000)

(2,150)

(900)

(2,175)

—

(12,945)

(8,940)

—

(4,300)

—

(31,510)		 97,009
88,345
274,399
19,727
82,968
10,826
63
2,671
80,771
5,037
2,983
14,596
—
13,000
38,474
728,827
85,932
(83,890)		 730,869

Transfers between funds are largely represented by scholarships awarded (note 3). Details in relation to each fund are shown below.

The Attingham Trust for the Study of Country Houses and Collections in Britain 30

Notes to the accounts Year to 31 December 2024

15 Restricted funds (continued)

The fund includes monies received to be used to provide scholarships for those attending courses organised by the charity, in particular the Summer School and Study Programme. £nil in scholarships were paid during the year (2023: £nil).

♦ The Monument Trust Fund This fund comprises the final donation from the Monument Trust received in 2016, to be used over a period of at least ten years. It is to be used to provide scholarships for those attending courses organised by the charity. £3,000 in scholarships was paid during the year (2023: £15,470).

The Attingham Trust for the Study of Country Houses and Collections in Britain 31

Notes to the accounts Year to 31 December 2024

15 Restricted funds (continued)

In the year to 31 December 2021, the charity received a donation towards the costs of a 70[th] Anniversary party in March 2022. The surplus from this event and specific donations in 2022 will provide 70[th] Anniversary Scholarships for courses in 2023. Any remaining funds will be used to increase scholarship funds in future years. £nil in scholarships were paid during the year (2023: £8,940).

♦ Albert Dawson Educational Trust This fund comprises monies to be used to provide scholarships for those attending the arts and crafts study programme organised by the charity. £9,600 scholarships were paid during the year (2023: nil).

These funds include monies received to be used to provide scholarships for those attending courses organised by the charity and for meeting specific expenses. £40,200 in scholarships was paid during the year (2023: £31,510).

The Attingham Trust for the Study of Country Houses and Collections in Britain 32

Notes to the accounts Year to 31 December 2024

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
January
2024
£
 New
designations
£


Utilised or
released
£		 At 31
December
2024
£
28,738
2,378,060
13,292
77,380
2,497,470
At 31
December
2023
£
24,330
2,270,650
13,292
77,380
2,385,652
Attingham Society Fund
General reserve
Director training
The Giles Waterfield Memorial Fund		 24,330
2,270,650
13,292
77,380		 6,549
447,011
—
—		 (2,141)
(339,601)
—
—
2,385,652 453,560 (341,742)
At 1
January
2023
£		 New
designations
£		 Utilised or
released
£
Attingham Society Fund
General reserve
Director training
The Giles Waterfield Memorial Fund		 19,156
1,965,011
13,292
77,380		 8,020
593,992
—
—		 (2,846)
(288,353)
—
—
2,074,839 602,012 (291,199)

The Attingham Society Fund represents monies generated by the Society in support of the activities of the charity. £2,141 was used in relation to delegate fees this year (2023: £2,846).

♦ General reserve

♦ Director training

The director training fund represents money donated by The Swire Trust and has been designated for training purposes. £nil amounts have been utilised in the year for the cost of training directors (2023: nil).

♦ The Giles Waterfield Memorial Fund. This fund comprises funds set aside by the trustees in memory of Giles Waterfield and it to be used to finance scholarships in future years.

The Attingham Trust for the Study of Country Houses and Collections in Britain 33

Notes to the accounts Year to 31 December 2024

17 Analysis of net assets between funds

General
fund
£


Designated
funds
£		 Tangible
fixed asset
fund
£		 Restricted
funds
£		 Restricted
funds
£		 Endowment
fund
£		 Endowment
fund
£


Total funds
31
December
2024
£

3,536,314
452
232,670

3,769,436



Total funds
31 December
2023
£

3,195,179

603

356,627

3,552,409
2023
£
1,730,191
1,551,506
15
178,670
1,730,191
Investments
Tangible fixed assets
Net current assets		 66,296
—
183,704
2,448,504
—

48,966		 —
452
—		 836,505
—
—		 185,009
—
—
250,000
2,497,470		 452 836,505 185,009
General
fund
£


Designated
funds
£		 Tangible
fixed asset
fund
£		 Restricted
funds
£		 Endowment
fund
£
Investments
Tangible fixed assets
Net current assets		 66,296
—
183,704
2,212,729

—

172,923		 —
603
—		 730,869
—
—		 185,285
—
—
250,000
2,385,652		 603 730,869 185,285
2024
£
1,871,689
1,730,191
1
141,497
1,871,689

18 Post balance sheet event

With effect from midnight on 1 January 2025, the activities, assets and liabilities of the charity were transferred to The Attingham Trust for The Study of Historic Houses and Collections in Britain CIO (Charity Registration Number 1210957) in accordance with a legal transfer of undertaking deed.

The net assets at that date comprised:

2024
£
Tangible fixed assets
Investments (including cash held within investments of £299) (note 11)
Debtors (note 12)
Cash at bank and in hand
Creditors: amounts falling due within one year (note 13)		 452
3,536,314
47,957
240,085
(55,372)
3,769,436

The Attingham Trust for the Study of Country Houses and Collections in Britain 34