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|CONTENTS|CONTENTS|Page|
|---|---|---|
|Trustees'<br>annual report|||
|Independent|auditors'<br>report|14|
|Consolidated|statement offinancial activities|18|
|Consolidated|balance sheet|19|
|Foundation|balance sheet|20|
|Consolidated|cash flow statement|21|
|Notes to the|financial<br>statements|22|





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## 

|Trustees||Mr Niall FRDickson CBE(Chairman)|Mr Niall FRDickson CBE(Chairman)|Mr Niall FRDickson CBE(Chairman)|
|---|---|---|---|---|
|||Mrs Helen Deeble CBE|||
|||Mrs Anna Eavis|||
|||Ms Ros Kerslake|CBE(Appointed|September 2022)|
|||Mr Richard GLaing|||
|||Mr Jonathan BNeame, DL|||
|||Mrs Laura CA Nesfield|||
|||Mr Andrew Ross|(Resigned December 2021)||
|||Mr Julian Smith|||
|||Mr Adrian JTinniswood OBE|||
|||Mr Thomas C Wright, CBE|||
|Company|Secretary|Mr RRicbman|||
|Charity Number||268354|||
|Company|number|1172263|||
|Registered|Office|Leeds Castle|||
|||Broomfield|||
|||Nr. Maidstone|||
|||Kent|||
|||ME17 1PL|||
|Statutory|Auditors|Crowe U.K.LLP|||
|||Riverside House|||
|||40-46 High Street|||
|||Maidstone|||
|||Kent|||
|||ME14 1JH|||
|Bankers||Royal Bank ofScotland|||
|||London Corporate|Banking Centre||
|||PO Box39952|||
|||21/2 Devonshire|Square||
|||London|||
|||EC2M 4XJ|||
|Investment|managers|Ruffer LLP|||
|||80Victoria Street|||
|||London|||
|||SW1E5JL|||
|||Sarasin &Partners|||
|||100St Paul's Churchyard|||
|||London|||
|||EC4M SBU|||





## 

|Sub-committee|Sub-committee|membership|membership|||
|---|---|---|---|---|---|
|Finance, Audit and||||Mr Richard GLaing|Chairman|
|Risk Committee||||Mr Julian Smith||
|||||Mr Thomas CWright, CBE||
|Investment|Committee|||Mr Andrew Ross|Chairman|
|||||Mr Richard GLaing||
|||||Mrs Laura CA Nesfield||
|Nominations||Committee||Mr Niall FRDickson, CBE|Chairman|
|||||Mr Julian Smith||
|||||Mr Richard GLaing||
|Directors, Leeds Castle||||Mr Thomas CWright, CBE|Chairman|
|Enterprises|Ltd|||Mr Niall FRDickson, CBE||
|||||Mr David Bridgford||
|||||Mrs Helen Bonser-Wilton|Chief Executive|
|||||Mr Robin Richman|Finance Director and Secretary|
|Senior Management|||Team|Mrs H Bonser-Wilton|Chief Executive|
|ofthe Foundation||||Mr RRichman|Finance Director|
|||||Mrs DMatthews|Head ofSales tk Marketing|
|||||MrJJordan|Head ofEstate Services|
|||||Mrs SPrichard|Head Curator|





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|||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2022|2021|
||||Notes|0'000|8'000|8'000|E'000|
|Income and endowments|from|||||||
|Donations<br>and legacies||||15|640|655|6|
|Other trading activities||||4,597||4,597|1,207|
|Investments||||111||111|92|
|Charitable<br>activities||||4,248||4,248|2,460|
|Total income and endowments||||8,971|640|9,611|3,765|
|Expenditure<br>on||||||||
|Raising funds|||7|(4,328)||(4,328)|(2,010)|
|Charitable<br>activities|||9|(5,061)|(629)|(5,690)|(4,865)|
|Total expenditure||||(9,389)|(629)|(10,018)|(6,875)|
|Net (losses)/gains<br>on investments|||22|489||489|1,527|
|Net income/(expenditure)||||71||82|(1,583)|
|Exceptional<br>items|||10|202||202|1,208|
|Other recognised<br>gains/(losses)||||||||
|Gains/(losses)<br>on revaluation||of||||||
|Fixed assets and investment||properties|21|940||940|199|
|Actuarial<br>gains/(losses)|on defined benefit|||||||
|pension scheme (net of|deferred tax)||30|431||431|(130)|
|Net movement<br>in funds||||1,644|11|1,655|(306)|
|Reconciliation offunds||||||||
|Total funds brought<br>forward||||20,601||20,601|20,907|
|Total funds carried forward|||29|22,245|11|22,256|20,601|





## 

|||||2022||2021||
|---|---|---|---|---|---|---|---|
||||Notes|X'000|K'OOO|OOOO|O'000|
|Fixed assets||||||||
|Tangible assets|||18||3,945||4,536|
|Heritage assets|||19|||||
||||||3,945||4,536|
|Investments:||||||||
|Properties|||21|8,917||7,352||
|Listed investments|||22|8,280||7,852||
|Cash held as an investment|||22|389||382||
||||||17,586||15,586|
||||||21,531||20,122|
|Current<br>assets||||||||
|Stocks|||23|146||254||
|Debtors|||24|972||870||
|Cash at bank and in|hand||25|2,310||1,417||
|||||3,428||2,541||
|Creditorsi<br>amounts|falling due|||||||
|within one year|||26|(2,702)||(1,675)||
|Net current assets|||||726||866|
|Creditors: amounts|falling due|||||||
|within more than one year|||27||||(387)|
|Total assets less current liabilities|||||22,256||20,60 II|
|Funds||||||||
|Expendable<br>endowment||fund|29||2,740||2,729|
|Restricted income fund|||29||78||78|
|Total restricted<br>funds|||||2,818||2,807|
|Unrestricted<br>general|fund||29||15,288||13,739|
|Unrestricted<br>designated||fund|29||4,150||4,055|
|Unrestricted<br>pension|reserve||29&30|||||
|Total charity funds|||||22,256||20,601|





## 

## 

||||||||2022|||2021||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|K'OOO|f.'OOO|K'OOO||OOOO|
|Fixed assets||||||||||||
|Tangible assets||||||18||3,930|||4,515|
|Heritage assets||||||19||||||
|||||||||3,930|||4,515|
|Investments:||||||||||||
|Subsidiary<br>company||||||20|866||866|||
|Properties||||||21|8,917||7,352|||
|Listed investments||||||22|8,280||7,852|||
|Cash held as|an investment|||||22|389||382|||
|||||||||18,452|||16,452|
|||||||||22,382|||20,967|
|Current<br>assets||||||||||||
|Stocks||||||23||||||
|Debtors||||||24|273||143|||
|Cash at bank|and|in|hand|||25|1,592||951|||
||||||||1,865||1,094|||
|Creditors: amounts|||falling due|||||||||
|within one year||||||26|(3,269)||(1,456)|||
|Net current|assets|||||||(1,404)|||(362)|
|Total assets|less|current|||liabilities|||20,978|||20,605|
|Funds||||||||||||
|Expendable|endowment||||fund|29||2,740|||2,729|
|Restricted income fund||||||29||78|||78|
|Total restricted||funds||||||2,818|||2,807|
|Unrestricted|general||fund|||29||14,010|||13,743|
|Unrestricted|designated|||fund||29||4,150|||4,055|
|Total charity funds||||||||20,978|||20,605|





## 

|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
||||||||Note|g'000|0'000|
|Cash flows from operating|activities:|||||||||
|Net cash provided<br>by/(used|in) operating||activities||||31|1,376|(576)|
|Cash flows from investing|activities:|||||||||
|Dividends,<br>interest and rents|from investments|||||||111|92|
|Purchase offixed assets||||||||(23)|(24)|
|Purchase ofinvestment<br>property||||||||(625)||
|Proceeds from sale ofinvestments||||||||2,846|7,119|
|Purchase ofinvestments||||||||(2,785)|(7,102)|
|Net cash provided<br>by/(used|in) investing||activities|||||(476)|85|
|Change in cash and cash equivalents||in|the|reporting|period|||900|(491)|
|Cash and cash equivalents|at the beginning|||ofthe reporting||period||1,799|2,290|
|Cash and cash equivalents|at the end|ofthe||reporting|period|||2,699|1,799|
|Reconciliation ofcash and|cash equivalents|||||||2022|2021|
||||||||Note|g'000|8'000|
|Cash in hand|||||||25|2,310|1,417|
|Cash held as an investment|||||||22|389|382|
|Total cash and cash equivalents||||||||2,699|1,799|
|Analysis ofchanges in net|debt|||||||||
||At 1April|2021|||Cash flow|||At 31March 2022||
||F000|||||g'000||R'000||
|Cash at bank||1,417||||893||2,310||





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|for the parent charity (see note|1.1).A s|umm|ary ofthe company's<br>trading|results is shown b|elow:|
|---|---|---|---|---|---|
|||||2022|2021|
|||||g'000|t'000|
|Turnover||||4,550|1,182|
|Costs oftrading activities and|administrative||expenses|(3,921)|(1,683)|
|Operafing<br>profit||||629|(501)|
|Interest receivable||||203|152|
|Interest payable to Leeds Castle Foundation|||on long term loan|||
|Other finance income/(costs)||||145|455|
|Profit/(loss)<br>before donation|and taxation|||977|106|
|Taxation||||108|(22)|
|Retained profit for the period||||1,085|84|
|Actuarial<br>gain/(loss)<br>related to|pension|scheme, net ofdeferred tax||323|(105)|
|Total recognised losses for the period||||1,408|(21)|
|Distribution<br>—gift aid||||(124)|(1,108)|
|Retained profit brought<br>forward||||1,284|1,129|
|Profit retained<br>in subsidiary||||1,284||



## 

## 

||||||Unrestricted|Restricted|Total|Funds|Total|Funds|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds||2022||2021|
||||||g'000|g'000||k'000||g'000|
|Grants|||||10|640||650|||
|Other|donations|and|voluntary|income|5|||5||6|
||||||15|640||655||6|





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## 

|Other trading||activities|||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total Funds|Total Funds|
||||||Funds|Funds|2022|2021|
||||||g'000|g'000|g'000|g'000|
|Income|||||||||
|Concerts and|other special|||events|389||389|10|
|Functions|||||1,871||1,871|228|
|Shops|||||588||588|143|
|Golf|||||299||299|205|
|Holiday lettings|||||1,155||1,155|500|
|Ancillary<br>services|||||199||199|38|
|Other sundry|income||||96||96|83|
||||||4,597||4,597|1,207|
|Expenditure|on raising||funds||||||
|Cost ofsales|||||1,455||1,455|241|
|Staffcosts (see||note 14)|||1,755||1,755|943|
|Property and equipment|||costs||345||345|296|
|Administration||costs|||161||21|10|
|Marketing<br>and||fundraising||costs|61||61|30|
|Finance costs|||||289||289|163|
|Investment<br>management|||costs||51||51|76|
|Proportion of|support costs||||||||
|(see note 11)|||||211||211|251|
||||||4,328||4,328|2,010|
|Net income from activities||||for|||||
|generating<br>funds|||||269||269|(803)|





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## 

|||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2022|2021|
|||||g'000|K'000|K'000|K'000|
|Income from investment||properties||54||54|53|
|Income from listed investments||||57||57|38|
|Bank interest receivable|||||||1|
|Net return on pension|scheme assets|||||||
||||||||92|
|Charitable<br>activities||||||||
|||||Unrestricted|Restricted|Total Funds|Total Funds|
|||||Funds|Funds|2022|2021|
|||||K'000|K'000|g'000|K'000|
|Income from Charitable|||activities|||||
|Day visitor admissions||||4,238||4,238|2,451|
|Other sundry income||||10||10|9|
|||||4,248||4,248|2,460|
|Expenditure<br>on Charitable<br>activities||||||||
|Cost ofsales||||283||283|155|
|Staffcosts: visitor team,||estate and||||||
|Castle maintenance|(see||note 14)|1,302||1,302|1,879|
|Estate and equipment|costs|||1,960||1,960|1,198|
|Marketing<br>costs||||278||278|205|
|Finance costs||||88||88|47|
|Preservation<br>and security||ofheritage||||||
|assets||||60|629|689|83|
|Proportion ofsupport|costs|||||||
|(see note 11)||||1,090||1,090|1,298|
|||||5,061|629|5,690|4,865|
|Net resources expended||||||||
|from charitable<br>activities||||(813)|(629)|(1,442)|(2,405)|





## 

## 

|10|Governmen|t<br>grants|||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total Funds|Total Funds|
||||||Funds|Funds|2022|2021|
||||||k'000|K'000|0'000|K'000|
||Hospitality|k Leisure grant|||100||100||
||Coronavirus|Job Retention scheme income|||102||102|1,208|
||Government|grants|||202||202|1,208|
|11|Support costs||||||||
||||||Unrestricted|Restricted|Total Funds|Total Funds|
||||||Funds|Funds|2022|2021|
||||||g'000|K'000|g'000|g'000|
||Staffcosts||||1,010||1,010|858|
||Administration<br>costs||||679||679|647|
||Corporation|tax charge|||||||
||Deferred tax charge (see note|||15)|||||
||Governance|costs (Auditors'||remuneration)|43||43|44|
||Legal and professional||costs||||||
||||||1,732||1,732|1,549|
||Allocated as follows:||||||||
||Activities for generating||funds||1,642||1,642|251|
||Charitable|activifies|||1,090||1,090|1,298|
||||||1,732||1,732|1,549|





## 

|Governan|ce<br>costs|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Funds|Total|Funds|
|||||Funds|Funds||2022||2021|
|||||N'000|K'000||K'000||K'000|
|Auditor's|remuneration|(see|below)|43|||43||44|



|not ofthe group as a whole. <br>associated pension schemes,|The total amount<br>payable to the ch<br> is as follows:|arity's<br>audit|ors<br>by the grou|p,<br>including|
|---|---|---|---|---|
||||2022|2021|
||||K'000|K'000|
|Fees payable to the charity's|auditor for the audit ofthe charity's|annual|||
|Accounts||||29|
|Fees payable to the charity's|auditor for other services:||||
|-The audit ofthe charity's|subsidiary||||
|-Tax services|||||
|-All other services|||||
|Fees in respect ofthe group|pension scheme:||||
|-Audit|||||
|-TBxservices|||||





## 

|assets which have been expensed<br>in the la|st five years a|re summarised|below:|||
|---|---|---|---|---|---|
||2022|2021|2020|2019|2018|
||g'000|I'000|g'000|K'000|K'000|
|Renovation ofCastle Library|||11|||
|Renovation ofYellow Drawing Room||12|25|||
|Renovation ofLady Baillie Suite|54|31|41|||
|Renovation oftapestries|5||12|||
|Renovation ofCastle Bedrooms|18|7|29|||
|Castle interior||21|16|56|22|
|Maidens Tower renovation|||||39|
|Stonework repairs|629||18|327|13|
|Castle representation|||58|30|154|



## 

|Staff costs||||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|Total Funds|
|||Funds|Funds|2022|2021|
|||g'000|g'000|K'000|g'000|
|Staffcosts during the|year were:|||||
|Wages and salaries||2,841||2,841|2,817|
|Social security costs||204||204|188|
|Other pension costs||125||125|220|
|Redundancy||43||43|324|
|Training, recruitment|and welfare|136||136|121|
|||3,349||3,349|3,670|



|The|average weekly number ofempl|oyees,<br>including<br>directors,|during the|year was as follows|:|
|---|---|---|---|---|---|
|||Group||Foundation||
|||2022|2021|2022|2021|
|||No|No|No|No|
|Full|time|56|51|32|28|
|Part|time|140|113|79|68|
|||196|164|111|96|
|This|equates to a|||||
|full|time equivalent of|98|89|||





|||2022||2021||
|---|---|---|---|---|---|
|||Full|Part|Full|Part|
|||Time|Time|Time|Time|
|Admin/Support|Staff|12|5|9|7|
|DV Ops||9|72|9|62|
|Golf||2|0|2|1|
|Retail||3|23|4|21|
|Hospitality||10|35|7|18|
|Maintenance/Security||17|4|18|3|
|Grounds/Gardens||3|1|2|1|
|Totals|||140|51|113|
||||196||164|



||Group||Foundation||
|---|---|---|---|---|
||2022|2021|2022|2021|
||No|No|No|No|
|f60,000to f70,000||3||3|
|670,000to f,80,000|||||
|680,000tof90,000|||||
|690,000to 6100,000|||||
|6110,000to 6120,000|||||
|f130,000to f140,000|||||
|f,160,000to 6170,000|||||
||4|4|4|4|





## 

## 

|Deferred tax||||||
|---|---|---|---|---|---|
|||Group||Foundation||
|||2022|2021|2022|2021|
|||F000|k'000|g'000|K'000|
|At 31March 2021||11|8|||
|Movement<br>for the period|||3|||
|Deferred tax asset/(IiabiTity)||||||
|at31March 2022||||||
|The deferred tax asset/(liability)|is made up|||||
|ofthe following:||||||
|Other timing differences||||||
|||11|ll|||



## 

## 

|Net outgoing|resources|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|Total Funds|
|||Funds|Funds|2022|2021|
|||f,'000|F000|K'000|k'000|
|Net outgoing|resources are stated|||||
|after (crediting)/charging:||||||
|Depreciation:|owned assets|597||597|651|
|Operating<br>lease rentals:||||||
|Hire ofplant|and equipment|||||





|Consolidated<br>statement o|ffin|ancial activities|for the period ended 31|March 2021||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||g'000|g'000|g'000|
|Income and endowments|from|||||
|Donations<br>and legacies|||6||6|
|Other trading activities|||1,207||1,207|
|Investments|||92||92|
|Charitable<br>activities|||2,460||2,460|
|Total income and endowments|||3,765||3,765|
|Expenditure<br>on||||||
|Raising funds|||(2,010)||(2,010)|
|Charitable<br>activities|||(4,865)||(4,865)|
|Total expenditure|||(6,875)||(6,875)|
|Net gains/(losses)<br>on investments|||1,527||1,527|
|Net income/(expenditure)|||(1,583)||(1,583)|
|Exceptional items|||1,208||1,208|
|Other recognised<br>gains/(losses)||||||
|Gains/(losses)<br>on revaluation||of||||
|Fixed assets and investment|properties||199||199|
|Actuarial<br>losses on defined|benefit|||||
|pension scheme (net ofdeferred tax)|||(130)||(130)|
|Net movement<br>in funds|||(306)||(306)|
|Reconciliation offunds||||||
|Total funds brought<br>forward|||20,907||20,907|
|Total funds carried forward|||20,601||20,601|





## 

|a)<br>Group||||
|---|---|---|---|
||Freehold Land|Plant and||
||and buildings|equipment|Total|
||K'000|N'000|g'000|
|Cost||||
|At 31March 2021|7,559|2,801|10,360|
|Additions||23|23|
|Dispossls|(272)|(273)|(545)|
|At31March 2022|7,287|2,551|9,838|
|Depreciation||||
|At 31March 2021|3,551|2,273|5,824|
|Charge for the period|468|129|597|
|Disposals|(255)|(273)|(528)|
|At31March 2022|3,764|2,129|5,893|
|Net book value||||
|At31March 2022|3,523|422|3,945|
|At 31March 2021|4,008|528|4,536|
|b)<br>Foundation||||
||Freehold Land|Plant and||
||and buildings|equipment|Total|
||g'000|g'000|g'000|
|Cost||||
|At 31March 2021|7,559|1,878|9,437|
|Additions||23|23|
|Dispossls|(272)|(188)|(460)|
|At 31March 2022|7,287|1,713|9,000|
|Depreciation||||
|At 31March 2021|3,551|1,371|4,922|
|Charge for the period|468|123|591|
|Disposals|(255)|(188)|(443)|
|At 31March 2022|3,764|1,306|5,070|
|Net book value||||
|At 31March 2022|3,523|407|3,930|
|At 31March 2021|4,008|507|4,515|





## 

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## 

|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||||O'000|g'000|
|100|Ordinary|shares|off|1|each|at|cost|866|866|
|||||||||866|866|



## 

|||2022|2021|
|---|---|---|---|
|||g'000|g'000|
|Market value ofproperties|at 31March 2021|7,352|7,153|
|Purchase||625||
|Revaluation||940|199|
|Market value ofproperties|at 31March 2022|8,917|7,352|
|Historical cost value ofassets||2073|I 448|





## 

||Group||Foundation||
|---|---|---|---|---|
||2022|2021|2022|2021|
||g'000|g'000|g'000|g'000|
|Rent received:|||||
|Within one year|41|41|41|41|
|Between two and five years|64|104|64|104|
|Between six and ten years||1||1|
||105|146|105|146|



## 

## 

|These comprise listed investments,|Certificates ofDeposit and oth|er cash holdings.||
|---|---|---|---|
|||2022|2021|
|||g'000|g'000|
|Market value oflisted investment|at 31March 2021|7,852|6,342|
|Acquisitions<br>at cost||2,785|7,102|
|Disposal proceeds||(2,846)|(7,119)|
|(Losses)/gains<br>for the year||489|1,527|
|Market value at 31March 2022||8,280|7,852|
|Cash holdings<br>at 31March 2022|||382|
|Total value offixed asset investments||8,669|8434|
|Historical cost value ofassets||7,465|7,192|



||2022|2021|
|---|---|---|
||g'000|g'000|
|UK investments|2,607|1,918|
|Overseas investments|6,062|6,316|
||8,669|8,234|





||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
||||||K'000|0/|g'000||
||Sarasin Climate Active Endowments|||Fund|3,726|45.0|3,546|45.2|
||UK 0.125%Treasury Stock 2068||||264|3.2|155|2.0|
||Ruffer Hliquid|Multi Strategies Fund|||417|5.0|555|7.0|
||Ruffer SICAV Fixed Income ZGBP|||Cap|727|8.8|874|11.1|
||Ruffer Protection||Strategies||274|3.3|222|2.8|
||Ruffer SICAV UK Mid &Smaller Cos||||233|2.8|235|3.0|
||||||5,641|68.1|6,040|76.9|
||Other investments||(all less than 3%)||2,639|31.9|1,812|23.1|
||||||8,280|100.0|7,852|100.0|
|23|Stocks||||||||
||||||Group||Foundation||
||||||2022|2021|2022|2021|
||||||K'000|0'000|g'000|g'000|
||Goods for resale||||146|254|||
|24|Debtors||||||||
||||||Group||Foundation||
||||||2022|2021|2022|2021|
||||||K'000|g'000|K'000|g'000|
||Amounts<br>falling||due after more||||||
||than one year:||||||||
||Trade debtors|||||139|||
||Amounts<br>falling||due within||||||
||one year:||||||||
||Trade debtors||||471||47||
||Amount<br>owed by||group undertakings||||||
||in respect of|gift aid|||||||
||Other debtors||||126|107|4|30|
||Prepayments|and|accrued incmne||364|159|222|110|
||Deferred tax|asset (see note 15)|||ll|11|||
||||||972|870|273|143|





## 

## 

## 

||||||Group||Foundation||
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||f'000|f'000|f'000|f'000|
|Cash|in|hand|||24|24|||
|Cash|at|bank|—Current|accounts|805|688|619|429|
|Cash|at|bank|—Deposit|accounts|1481|705|973|522|
||||||2,310|1,417|1,592|951|



|Creditor|s: Amounts|falling due within one yea|r||||
|---|---|---|---|---|---|---|
||||Group||Foundation||
||||2022|2021|2022|2021|
||||f'000|f,'000|f'000|f'000|
|Trade creditors|||503|300|332|191|
|Corporation<br>tax|||||||
|Other taxation and social security|||||||
|Payable|||89|50|13||
|Other creditors|||43|45|1||
|Amounts|owed to group undertakings||||2,366|1,114|
|Accraals|||586|74|493|54|
|Deferred|tax liability|(see note 15)|||||
|Deposits|in advance||1,481|1,206|64|97|
||||2,702|1,675|3,269|1,456|
|Creditors: Amounts||falling due after one year|||||
||||Group||Foundation||
||||2022|2021|2022|2021|
||||f'000|f'000|f'000|f'000|
|Deposits|in advance||1|387|||





## 

## 

|||Group||Foundation||
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||6'000|R'000|g'000|g'000|
|Payments|made:|||||
|Within one year||26|34|12|20|
|Between|two and five years||26||12|
|||26|60|12|32|





## 

## 

## 

|||Restricted|Funds|Unrestricted|Funds||
|---|---|---|---|---|---|---|
|||HdrD|Chattels|M&D|General|Total|
|||Fund|Fund|Fund|Fund|Funds|
|||k'000|g'000|k'000|K'000|g'000|
|Fund balances at|||||||
|31March 2022 are|||||||
|represented|by||||||
|Tangible assets||2,504|||1,441|3,945|
|Investments||225||3,693|13,668|17,586|
|Current assets||11|78|457|2,882|3,428|
|Liabilities|||||(2,703)|(2,703)|
|At 31March|2022|2,740|78|4,150|15,288|22,256|
|Movement offunds|||||||
|during the year||As at31||||As at 31|
|||March|||Gains/|March|
|||2021|Income|Expenditure|Losses|2022|
|||(g)|(g)|(g)|(g)|(g)|
|Restricted Funds|||||||
|Heritage<br>and|Development||||||
|Fund||2,729|640|(629)||2,740|
|Chattels Fund||78||||78|
|||2,807|640|(629)||2,818|
|Unrestricted|Funds||||||
|Maintenance|and||||||
|Development|Fund|4,055|||95|4,150|
|General Fund||13,739|9,173|(9,389)|1,765|15,288|
|||17,794|9,173|(10,018)|1,860|19,438|
|Total Funds||20,601|9,813|(10,018)|1,860|22,256|





## 

## 

|Group Funds||(continued)||||||
|---|---|---|---|---|---|---|---|
||||Restricted Funds|||||
||||Restated||Unrestricted|Funds||
||||HdrD|Chattels|M&D|General|Total|
||||Fund|Fund|Fund|Fund|Funds|
||||g'000|N'000|K'000|g'000|g'000|
|Fund balances||at||||||
|31March 2021 are||||||||
|represented<br>by||||||||
|Tangible assets|||2,504|||2,032|4,536|
|Investments|||225||3,693|11,668|15,586|
|Current assets||||78|362|2,101|2,451|
|Liabilities||||||(2,062)|(2,062)|
|At 31March|2021||2,729|78|4,055|13,739|20,601|
|Movement of||funds||||||
|during the year||||||||
||||As at31||||As at 31|
||||March|||Gains/|March|
||||2020|Income|Expenditure|losses|2021|
||||(g)||('~)|(g)|(g)|
|Restricted funds||||||||
|Heritage and|Development|||||||
|Fund|||2,729||||2,729|
|Chattels Fund|||78||||78|
||||2,807||||2,807|
|Unrestricted|funds|||||||
|Maintenance|and|||||||
|Development||Fund|3,060|1,000|(5)||4,055|
|General Fund|||15,040|3,973|(6,870)|1,596|13,739|
||||18,100|4,973|(6,875)|1,596|17,794|
|Total funds|||20,907|4,973|(6,875)|1,596|20,601|





## 

## 

## 

|Previous v|aluation<br>was performed as|at 1 April 20|16.||
|---|---|---|---|---|
|Valuation|date 1 April||2019|2016|
|The value|ofthe technical provisions|was:|6,260,000|5,468,000|
|The value|ofthe assets at that date was:||4,911,000|4,406,000|



## 

||2022|2021|
|---|---|---|
||K'000|K'000|
|Defined benefit obligation|(4,912)|(5,296)|
|Fair value ofplan assets|6,043|5,889|
|Restriction on recognition ofasset|(1,131)|(593)|
|Net defined benefit (liability)/asset|||





## 

|the year are included<br>in profit or loss. <br>in other comprehensive<br>income.|Re-me|asurements|ofthe net defin|ed benefit liabilit|y<br>are included|
|---|---|---|---|---|---|
|||||Period|Period|
|||||ended|ended|
|||||31/03/2022|31/03/2021|
|||||g'000|g'000|
|Service cost:||||||
|Current service cost (net ofemployee|contributions)|||||
|Administration<br>expenses||||46||
|Restriction ofrecognition ofasset deemed irrecoverable|||||140|
|Net interest expense/(credit)||||(13)|(14)|
|Charge/(credit)<br>recognised in profit or|loss|||33|126|
|Re-measurements<br>ofthe net liability:||||||
|Return on scheme assets (excluding<br>expense)|amount|included|in net interest|(134)|(544)|
|Actuarial<br>(gains)/losses||||(297)|674|
|Charge/(credit)<br>recorded in other recognised||gains or losses||(431)|130|
|Total defined benefit cost/(credit)||||i398i|116|





## 

|Pension scheme (continued)||||||||
|---|---|---|---|---|---|---|---|
|The principal<br>actuarial<br>assumptions|||used were:|||||
|||||||31/03/2022|31/03/2021|
|Liability discount rate||||||2 75o/|2.00'/o|
|Inflation assumption<br>-RPI||||||3.80o/|3.30'/o|
|Inflation assumption<br>-CPI||||||3.25o/|2 70o/|
|Rate ofincrease in salaries||||||n/a|n/a|
|Revaluation ofdeferred pensions:||||||||
|all benefits accrued||||||3.25'/o|2.7P/o|
|Increases for pensions in payment:||||||||
|benefits accrued prior to 6April 1997||||||0.00'/o|0.00'/o|
|benefits accrued after 5 April|1997|||||3.15'/o|2.65o/|
|Proportion ofemployees<br>opting for early retirement||||||0.00'/o|0.00'/o|
|Proportion ofemployees<br>commuting<br>pension||||for cash||50.00'/o|5p pp'/0|
|Expected age at death ofcurrent pensioner<br>at||||age 65:||||
|Male aged 65 at year end:||||||86.9|86.9|
|Female aged 65 at year end:||||||89.3|89.2|
|Expected age at death offuture pensioner at age 65:||||||||
|Male aged 45 at year end:||||||87.9|87.9|
|Female aged 45 at year end:||||||90.4|90.4|
|Reconciliation ofscheme assets||and|liabilities|||||
||||||Assets|Liabilities|Total|
||||||g'000|g'000|O'000|
|At start ofperiod|||||5,889|(5,296)|593|
|Benefits paid|||||(191)|191||
|Administration<br>expenses|||||(46)||(46)|
|Contributions<br>from the employer|||||140||140|
|Interest income / (expense)|||||117|(104)|13|
|Return on assets (excluding|amount included|||in net interest|134||134|
|expense)||||||||
|Actuarial<br>gains/(losses)||||||297|297|
|Gain/(loss)<br>on plan introductions||and|changes|||||
|At end ofperiod|||||6,043|(4,912)|1,131|





## 

||||31/03/2022|31/03/2021|
|---|---|---|---|---|
||||f,'000|g'000|
|Interest income|||117|120|
|Return on scheme assets (excluding|amount included|in net interest|||
|expense)|||134|544|
|Total return on scheme assets|||264|664|



|||31/03/2022|31/03/2021|
|---|---|---|---|
|||f.'000|2000|
|UK Equities||626|705|
|Overseas Equities||775|803|
|Gilts||910|665|
|Index Linked||2,344|2,518|
|Alternative|Assets|924|893|
|Cash||454|305|
|Total market value ofassets||6,043|5,889|





## 

## 

|Reconciliation<br>ofcash flows from op|erating<br>activities|||
|---|---|---|---|
|||2022|2021|
|||K'000|g'000|
|Net income/(expenditure)<br>Net (gains)/losses<br>on investments<br>Depreciafion<br>charges on fixed assets<br>Write offof fixed asset||715<br>(489)<br>597<br>16|(375)<br>(1,527)<br>651<br>80|
|Tax charge<br>Dividends,<br>interest and rents &om investments|||(92)|
|Movements<br>on defined benefit pension|scheme||(130)|
|Movement<br>in components ofworhng|capital:|||
|Decrease/(increase)<br>in stocks<br>(increase)/decrease<br>in debtors<br>(Decrease)/increase<br>in creditors||108<br>(102)<br>642|5<br>671<br>141|
|Net cash inflow/(outflow)<br>from operating<br>activities||1,376|i576i|



## 

## 

## 

## 

## 

## 

##