## 



## 

|`CONTENTS`|`Page`|
|---|---|
|`Trustees’annualreport`||
|`Independentauditors’report`||
|`Consolidatedstatementoffinancialactivities`||
|`Consolidatedbalancesheet`||
|`Foundationbalancesheet`||
|`Consolidatedcashflowstatement`||
|`Notestothefinancialstatements`||





|`Trustees`|`MsRos Kerslake,CBE(Chair)`|
|---|---|
||`MsJudithArmitt`|
||`MsHelenDeeble,CBE`|
||`MsAnnaEavis`|
||`MsRuthKnight`|
||`MsSarahMasotti`|
||`MsSarahRoots`|
||`MrJulianSmith,CVO`|
||`MrAdrianJ Tinniswood,OBE`|
||`MrThomasC Wright,CBE`|
|`CompanySecretary`|`MrR Richman`|
|`CharityNumber`|`268354`|
|`Companynumber`|`1172263`|
|`RegisteredOffice`|`LeedsCastle`|
||`Broomfield`|
||`Nr.Maidstone`|
||`Kent`|
||`ME17IPL`|
|`StatutoryAuditors`|`CroweU.K.LLP`|
||`MedwayBridgeHouse`|
||`1-8Fairmeadow`|
||`Maidstone`|
||`Kent`|
||`ME141JP`|
|`Bankers`|`RoyalBankofScotland`|
||`38MarketPlace`|
||`Wigan`|
||`WIIPJ`|
|`Investmentmanagers`|`RufferLLP`|
||`80VictoriaStreet`|
||`London`|
||`SWIE5JL`|
||`Sarasin& Partners`|
||`100StPaul’sChurchyard`|
||`London`|
||`EC4M8BU`|





## 

## 

|`Finance,Auditand`|||
|---|---|---|
|`RiskCommittee`|`MsJ Armitt`|`Chair`|
||`MrJ Smith,CVO`||
||`MrTCWright,CBE`||
|`InvestmentCommittee`|`MsH Deeble,CBE`|`Chair`|
||`MsJ Armitt`||
||`MsR Kerslake,CBE`||
|`NominationsCommittee`|`MsR `<br>`Kerslake,CBE`|`Chair`|
||`MrJ SmithCVO`||
||`MsA Eavis`||
|`Directors,LeedsCastle`|`MrTCWright,CBE`|`Chair`|
|`EnterprisesLtd`|`MsR Kerslake,CBE`||
||`MrD Bridgford`||
||`MsS Roots`||
||`MsH Bonser-Wilton`|`ChiefExecutive`|
||`MrR Richman`|`FinanceDirectorandSecretary`|
|`EstatesCommittee`|`MsL Nesfield`|`Chair`|
||`MsR Knight`||
||`MsS Roots`||
|`CuratorialCommittee`|`MrA Tinniswood,OBE`||
||`MsA Eavis`||
|`SeniorLeadershipTeam`|`MsH Bonser-Wilton`|`ChiefExecutive`|
|`oftheFoundation`|`MrR Richman`|`FinanceDirector`|
||`MrsD Matthews(to31StMarch25)`|`HeadofAudience`|
|||`Development& Fundraising`|
||`MsS Prichard(to318March25)`|`HeadCurator`|
||`MsL Hutchings`|`CommercialOperations`|
|||`Director`|
||`DrD Bouchard(from3"March25)`|`Heritage& Engagement`|
|||`Director`|
||`MrD Hedges(from15“September25)`|`EstatesDirector`|
||`MrM Delin`|`MarketingDirectorOBE`|





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## 

|`LiquidFreeReserves`|`2025`|`2024`|
|---|---|---|
||`£000’s`|`£000’s`|
|`Totalfunds`|`22,089`|`22,179`|
|`Less:`|||
|`Designatedfunds`|`(3,053)`|`(3,750)`|
|`Endowmentfunds`|`(2,740)`|`(2,740)`|
|`Restrictedfunds`|`2`|`(44)`|
|`Freereserves`|`16,298`|`15,645`|
|`Lessilliquidreserves/assets`|||
|`InvestmentProperties`|`(9,144)`|`(9,060)`|
|`Tangibleassetsnotalreadyincludedinabovefunds`|`(2,045)`|`(1,791)`|
|`LiquidFreeReserves`|`5,109`|`4,794`|



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# 18 December 2025 



## 

## 

|||`Unrestricted`|`Restricted`|`TotalFunds`|`TotalFunds`|
|---|---|---|---|---|---|
|||`Funds`|`Funds`|`2025`|`2024`|
||`Notes`|<br>`£7000`|`£7000`|`£7000`|`£7000`|
|`Incomeandendowmentsfrom`||||||
|`donationsandlegacies`|`6`|`24`|`167`|`19]`|`21`|
|`Othertradingactivities`|`7`|`5,795`|`-`|`5,795`|`5,760`|
|`Investments`|`8`|`285`|`-`|`285`|`117`|
|`Charitableactivities`|`9`|`6,422`|`-`|`6,422`|`6,012`|
|`Totalincomeandendowments`||`12,526`|`167`|`12,693`|`11,910`|
|`Expenditureon`||||||
|`Raisingfunds`|`7`|`(5,349)`|`-`|`(5,349)`|`(5,353)`|
|`Charitableactivities`|`9`|`(7,304)`|`(213)`|`(7,517)`|`(6,568)`|
|`Totalexpenditure`||`(12,653)`|`(213)`|`(12,866)`|`(11,921)`|
|`Net(losses)/gainsoninvestments`|`21`|`105`|`-`|`105`|`150`|
|`Netincome/(expenditure)`||`(22)`|`(46)`|`(68)`|`139`|
|`Otherrecognisedgains/(losses)`||||||
|`Gains/(losses)onrevaluationof`||||||
|`Fixedassetsandinvestmentproperties`|`20`|`84`|`-`|`84`|`(537)`|
|`Actuarialgains/(losses)ondefinedbenefit`||||||
|`pensionscheme(net ofdeferredtax)`|`29`|`(106)`|`-`|`(106)`|`(167)`|
|`Netmovementinfunds`||`(44)`|`(46)`|`(90)`|`(565)`|
|`Reconciliationoffunds`||||||
|`Totalfundsbroughtforward`||`22,202`|`(23)`|`22,179`|`22,744`|
|`Totalfundscarriedforward`|`28`|`22,158`|`(69)`|`22,089`|`22,179`|





## 

||||`2025`|||`2024`||
|---|---|---|---|---|---|---|---|
||`Notes`|`£000`||`£000`|`£7000`||`£7000`|
|`Fixedassets`<br>`Tangibleassets`|`17`|||`4,549`|||`4,295`|
|`Heritageassets`|`18`|||||||
|||||`4,549`|||`4,295`|
|`Investments:`<br>`Properties`<br>`Listedinvestments`|`20`<br>`21`|`9,144`<br>`8,202`|<br>||`9,060`<br>`8,366`|<br>||
|`Cashheldasaninvestment`|`21`|`2`|||`2`|||
|||||`17,348`|||`17,573`|
|||||`21,897`|||`21,868`|
|`Currentassets`||||||||
|`Stocks`<br>`Debtors`<br>`Cashatbankandinhand`|`22`<br>`23`<br>`24`|`279`<br>`1,689`<br>`680`|<br> <br>||`245`<br>`1,216`<br>`914`|<br> <br>||
|||`2,648`|||`2,375`|||
|`Creditors:amountsfallingdue`<br>`withinoneyear`|`25`|`(2,219)`|||`(1,958)`|||
|`Netcurrentassets`||||`429`|||`417`|
|`Creditors:amountsfallingdue`<br>`withinmorethanoneyear`|`26`|||`(237)`|||`(106)`|
|`Totalassetslesscurrentliabilities`||||`22,089`|||`22,179`|
|`Funds`<br>`Expendableendowmentfund`|`28`|||`2,740`|||`2,740`|
|`Restrictedincomefund`<br>`Totalrestrictedfunds`|`28`|||`(2)`<br>`2,738`|||`44`<br>`2,784`|
|`Unrestrictedgeneralfund`<br>`Unrestricteddesignatedfund`|`28`<br>`28`|||`16,298`<br>`3,053`|||`15,645`<br>`3,750`|
|`Unrestrictedpensionreserve`|`28&29`|||||||
|`Totalcharityfunds`||||`22,089`|||`22,179`|






## 

||||`2025`|||`2024`||
|---|---|---|---|---|---|---|---|
||`Notes`|`£°000`||`£°000`|`£7000`||`£7000`|
|`Fixedassets`||||||||
|`Tangibleassets`|`17`|||`4,549`|||`4,295`|
|`Investments:`||||||||
|`Subsidiarycompany`|`19`|`866`|||`866`|||
|`Properties`|`20`|`9,144`|||`9,060`|||
|`Listedinvestments`|`21`|`8,202`|||`8,366`|||
|`Cashheldasaninvestment`|`21`|`2`|||`147`|||
|||||`18,214`|||`18,439`|
|||||`22,763`|||`22,734`|
|`Currentassets`||||||||
|`Debtors`|`23`|`381`|||`366`|||
|`Cashatbankandinhand`|`24`|`396`|||`467`|||
|||`777`|||`833`|||
|`Creditors:amountsfallingdue`||||||||
|`withinoneyear`|`25`|`(2,249)`|||`(2,201)`|||
|`Netcurrentassets`||||`(1,472)`|||`(1,368)`|
|`Totalassetslesscurrentliabilities`||||`21,291`|||`21,366`|
|`Funds`||||||||
|`Expendableendowmentfund`|`28`|||`2,740`|||`2,740`|
|`Restrictedincomefund`|`28`|||`(2)`|||`44`|
|`Totalrestrictedfunds`||||`2,738`|||`2,784`|
|`Unrestrictedgeneralfund`|`28`|||`15,500`|||`14,832`|
|`Unrestricteddesignatedfund`|`28`|||`3,053`|||`3,750`|
|`Totalcharityfunds`||||`21,291`|||`21,366`|





## 

## 

|||`2025`|`2024`|
|---|---|---|---|
||`Note`|`£7000`|`£7000`|
|`Cashflowsfromoperatingactivities:`<br>`Netcashprovidedby/(usedin)operatingactivities`|`30`|`(139)`|`(185)`|
|`Cashflowsfrominvestingactivities:`<br>`Dividends,interestandrentsfrominvestments`<br>`Purchaseoffixedassets`|`8`|`285`<br>`(794)`|`117`<br>`(1,196)`|
|`Purchaseofinvestmentproperty`<br>`Proceedsfromsaleofinvestments`<br>`Purchaseofinvestments`<br>`Netcash(usedin)/providedbyinvestingactivities`||`2,413`<br>`(2,144)`<br>`(240)`|`3,762`<br>`(3,599)`<br>`(916)`|
|`Changeincashandcashequivalentsinthereportingperiod`<br>`Cashandcashequivalentsatthebeginningofthereportingperiod`||`(379)`<br>`1,061`|`(1,101)`<br>`2,162`|
|`Cashandcashequivalentsattheendofthereportingperiod`||`682`|`1,061`|
|`Reconciliationofcashandcashequivalents`|`Note`|`2025`<br>`£7000`|`2024`<br>`£7000`|
|`Cashinhand`<br>`Cashheldasaninvestment`|`24`<br>`21`|`680`<br>`2`|`914`<br>`147`|
|`Totalcashandcashequivalents`||`682`|`1,061`|



|||`At`|`29`|`March2024`|`Cashflow`||`At`|`31March2025`|
|---|---|---|---|---|---|---|---|---|
|||||`£7000`||`£°000`||`£7000`|
|`Cashat`|`bank`|||`914`||`(234)`||`680`|





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## 

## 

|`2.8`|`Resourcesexpended`|
|---|---|
||`Allexpenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate`|
||`allcostsrelatedtoeachoftheCharity’sactivities.Supportcostswhichcannotbedirectlyattributedtoa `|
||`specificactivityhavebeenallocatedtoactivitiesona basisconsistentwiththeiruseoftheresources.`|
||`Governancecostsareincludedwithinsupportcosts.`|





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|||`2025`||`2024`||
|---|---|---|---|---|---|
|||`£7000`||`£000`||
|`Turnover`||`5,752`||`5,721`||
|`Costsoftradingactivitiesandadministrativeexpenses`||`(4,817)`||`(4,714)`||
|`Operatingprofit`||`935`||`1,007`||
|`Interestreceivable`||`115`||`109`||
|`InterestpayabletoLeedsCastle`|`Foundationonlongtermloan`||`-`||`-`|
|`Otherfinanceincome/(costs)`|||`-`||`-`|
|`Profit/(loss)beforedonationandtaxation`||`1,050`||`1,116`||
|`Taxation`|||`-`||`-`|
|`Retainedprofitfortheperiod`||`1,050`||`1,116`||
|`Actuarialgain/(loss)relatedtopensionscheme,netofdeferredtax`||`(114)`||`(176)`||
|`Totalrecognisedlossesforthe`|`period`|`936`||`940`||
|`Distribution— giftaid`||`(951)`||`(1,063)`||
|`Retainedprofitbrought forward`||`812`||`935`||
|`Profitretainedinsubsidiary`||`797`||`812`||



|||`Unrestricted`||`Restricted`||`Total`|`Funds`||`TotalFunds`||
|---|---|---|---|---|---|---|---|---|---|---|
|||`Funds`||`Funds`|||`2025`||`2024`||
|||`£7000`||`£7000`|||`£000`||`£7000`||
|`Grants`|||`-`|`167`||||`-`||`-`|
|`Other`|`donationsandvoluntaryincome`|`24`|||`-`||`19]`||`21`||
|||`24`||`167`|||`19]`||`21`||





## 

|`7`|`Othertradingactivities`||||||
|---|---|---|---|---|---|---|
|||`Unrestricted`|`Restricted`||`TotalFunds`|`TotalFunds`|
|||`Funds`|`Funds`||`2025`|`2024`|
|||`£000`|`£000`||`£000`|`£000`|
||`Income`||||||
||`Concertsandotherspecialevents`|`690`||`-`|`690`|`664`|
||`Functions`|`1,766`||`-`|`1,766`|`1,964`|
||`Shops`|`932`||`-`|`932`|`873`|
||`Golf`|`373`||`-`|`373`|`349`|
||`Holidaylettings`|`1,483`||`-`|`1,483`|`1,353`|
||`Ancillaryservices`|`259`||`-`|`259`|`257`|
||`Othersundryincome`|`292`||`-`|`292`|`300`|
|||`3,195`||`-`|`5,795`|`5,760`|
||`Expenditureonraisingfunds`||||||
||`Costofsales`|`1,979`||`-`|`1,979`|`2,028`|
||`Staffcosts(seenote13)`|`1,972`||`-`|`1,972`|`1,800`|
||`Propertyandequipmentcosts`|`427`||`-`|`427`|`562`|
||`Administrationcosts`|`105`||`-`|`105`|`169`|
||`Marketingandfundraisingcosts`|`324`||`-`|`324`|`147`|
||`Financecosts`|`261`||`-`|`261`|`335`|
||`Investmentmanagementcosts`|`13`||`-`|`13`|`52`|
||`Proportionofsupportcosts`||||||
||`(seenote10)`|`268`||`-`|`268`|`260`|
|||`5,349`||`-`|`5,349`|`5,353`|
||`Netincomefromactivitiesfor`||||||
||`generatingfunds`|`446`||`-`|`446`|`407`|





## 

## 

|`8`|`Incomefrominvestments`|||||
|---|---|---|---|---|---|
|||`Unrestricted`|`Restricted`|`TotalFunds`|`TotalFunds`|
|||`Funds`|`Funds`|`2025`|`2024`|
|||`£000`|`£000`|`£000`|`£°000`|
||`Incomefrominvestmentproperties`|`64`|`-`|`64`|`53`|
||`Incomefromlistedinvestments`|`221`|`-`|`221`|`64`|
|||`285`|`-`|`285`|`117`|
|`9`|`Charitableactivities`|||||
|||`Unrestricted`|`Restricted`|`TotalFunds`|`TotalFunds`|
|||`Funds`|`Funds`|`2025`|`2024`|
|||`£7000`|`£7000`|`£7000`|`£7000`|
||`IncomefromCharitableactivities`|||||
||`Dayvisitoradmissions`|`6,400`|`-`|`6,400`|`5,999`|
||`Othersundryincome`|`22`|`-`|`22`|`13`|
|||`6,422`|`-`|`6,422`|`6,012`|
||`ExpenditureonCharitableactivities`|||||
||`Costofsales`|`724`|`-`|`724`|`575`|
||`Staffcosts:visitorteam,estateand`|||||
||`Castlemaintenance(seenote13)`|`2,014`|`-`|`2,014`|`1,655`|
||`Estateandequipmentcosts`|`2,297`|`163`|`2,460`|`2,328`|
||`Marketingcosts`|`661`|`-`|`661`|`489`|
||`Financecosts`|`102`|`-`|`102`|`102`|
||`Preservationandsecurityofheritage`|||||
||`assets`|`120`|`50`|`170`|`122`|
||`Proportionofsupportcosts`|||||
||`(seenote10)`|`1,386`|`-`|`1,386`|`1,297`|
|||`7,304`|`213`|`7,517`|`6,568`|
||`Netresourcesexpended`|||||
||`fromcharitableactivities`|`(882)`|`(213)`|`(1,095)`|`(556)`|





## 

||`Unrestricted`|`Restricted`||`TotalFunds`|`TotalFunds`|
|---|---|---|---|---|---|
||`Funds`|`Funds`||`2025`|`2024`|
||`£7000`|`£7000`||`£7000`|`£7000`|
|`Staffcosts`|`765`||`-`|`765`|`785`|
|`Administrationcosts`|`820`||`-`|`820`|`714`|
|`Corporationtaxcharge`|`-`||`-`|`-`||
|`Deferredtaxcharge(seenote14)`|`8`||`-`|`8`|`9`|
|`Governancecosts(Auditors’remuneration)`|<br>`61`||`-`|`61`|`49`|
||`1,654`||`-`|`1,654`|`1,557`|
|`Allocatedasfollows:`||||||
|`Activitiesforgeneratingfunds`|`268`||`-`|`268`|`260`|
|`Charitableactivities`|`1,386`||`-`|`1,386`|`1,297`|
||`1,654`||`-`|`1,654`|`1,557`|



## 

||`Unrestricted`|`Restricted`||`TotalFunds`|`TotalFunds`|
|---|---|---|---|---|---|
||`Funds`|`Funds`||`2025`|`2024`|
||`£000`|`£°000`||`£°000`|`£°000`|
|`Auditor’sremuneration(seebelow)`|`35`||`-`|`35`|`49`|



||`2025`|`2024`|
|---|---|---|
||`£000`|`£000`|
|`Feespayabletothecharity’sauditorfortheauditofthecharity’sannual`|||
|`Accounts`|`35`|`26`|
|`Feespayabletothecharity’sauditorforotherservices:`|||
|`-Theauditofthecharity’ssubsidiary`|`12`|`9`|
|`-Taxservices`|`5`|`6`|
|`Feesinrespectofthegroup pensionscheme`|||
|`-audit`|`9`|`8`|





## 

## 

||`2025`|`2024`|`2023`|`2022`|`2021`|
|---|---|---|---|---|---|
||`£000`|`£7000`|`£000`|`£7000`|`£000`|
|`CastleFireStrategy`|`16`|`-`|`-`|`-`|`-`|
|`RenovationofYellowDrawingRoom`|`-`|`-`|`-`|`-`|`12`|
|`RenovationofLadyBaillieSuite`|`-`|`-`|`-`|`54`|`31`|
|`Renovationoftapestries`|`-`|`-`|`-`|`5`|`-`|
|`RenovationofCastleBedrooms`|`44`|`16`|`15`|`18`|`7`|
|`Castleinterior`|`-`|`-`|`-`|`-`|`21`|
|`Stoneworkrepairs`|`94`|`36`|`190`|`629`|`1]`|
|`Castlerepresentation`|`-`|`-`|`-`|`-`|`1`|
|`CastleRoof`|`-`|`-`|`12`|`-`|`-`|
|`MoatBridgerepairs`|`16`|`71`|`-`|`-`|`-`|
|`PurchaseofSecretaire`|`65`|`-`|`-`|`-`|`-`|



||`Unrestricted`|`Restricted`||`TotalFunds`|`TotalFunds`|
|---|---|---|---|---|---|
||`Funds`|`Funds`||`2025`|`2024`|
||`£000`|`£000`||`£000`|`£000`|
|`Staffcostsduringtheyearwere:`||||||
|`Wagesandsalaries`|`4,130`|`72`||`4,202`|`3,747`|
|`Socialsecuritycosts`|`33]`||`-`|`331`|`291`|
|`Otherpensioncosts`|`193`||`-`|`193`|`153`|
|`Redundancy`|`35`||`-`|`35`|`101`|
|`Training,recruitmentandwelfare`|`226`||`-`|`226`|`184`|
||`4,915`|`72`||`4,987`|`4,476`|



|||`Group`||`Foundation`||
|---|---|---|---|---|---|
|||`2025`|`2024`|`2025`|`2024`|
|||`No`|`No`|`No`|`No`|
|`Full`|`time`|`77`|`71`|`51`|`45`|
|`Part`|`time`|`130`|`130`|`77`|`75`|
|||`207`|`201`|`128`|`120`|
|`This`|`equatestoa `|||||
|`full`|`timeequivalentof`|`119`|`110`|||





## 

## 

||`2025`||`2024`||
|---|---|---|---|---|
||`Full`|`Part`|`Full`|`Part`|
||`Time`|`Time`|`Time`|`Time`|
|`Admin/SupportStaff`|`15`|`5`|`15`|`7`|
|`DVOps`|`16`|`68`|`12`|`66`|
|`Golf`|`3`|`-`|`3`|`-`|
|`Retail`|`6`|`23`|`5`|`21`|
|`Hospitality`|`19`|`32`|`16`|`34`|
|`Maintenance/Security`|`18`|`1`|`17`|`1`|
|`Grounds/Gardens`|`3`|`1`|`3`|`1`|
|`Totals`|`77`|`130`|`71`|`130`|
|||`207`||`201`|



||||`Group`||`Foundation`||
|---|---|---|---|---|---|---|
||||`2025`|`2024`|`2025`|`2024`|
||||`No`|`No`|`No`|`No`|
|`£60,000`|`to`|`£70,000`|`1`|`-`|`1`|`-`|
|`£70,000`|`to`|`£80,000`|`1`|`1`|`]`|`1`|
|`£80,000`|`to`|`£90,000`|`1`|`1`|`1`|`1`|
|`£90,000`|`to`|`£100,000`|`1`|`1`|`1`|`1`|
|`£100,000`|`to`|`£110,000`|`-`|`1`|`-`|`1`|
|`£110,000`|`to`|`£120,000`|`1`|`1`|`1`|`1`|
|`£120,000`|`to`|`£130,000`|`1`|`1`|`]`|`1`|
|`£180,000`|`to`|`£190,000`|`1`|`]`|`1`|`|`|
||||`7`|`7`|`7`|`7`|





## 

||`Group`||`Foundation`||||
|---|---|---|---|---|---|---|
||`2025`|`2024`|`2025`||`2024`||
||`£7000`|`£000`|`£7000`||`£7000`||
|`At28March2024`|`9`|`9`||`-`||`-`|
|`Movementfortheperiod`|`-`|`-`||`-`||`-`|
|`Deferredtaxasset/(liability)`|||||||
|`at31March2025`|`9`|`9`||`-`||`-`|
|`Thedeferredtaxasset/(liability)ismadeup`|||||||
|`ofthefollowing:`|||||||
|`Othertimingdifferences`|`9`|`9`||`-`||`-`|
||`9`|`9`||`-`||`-`|



||`Unrestricted`|`Restricted`||`TotalFunds`|`TotalFunds`|
|---|---|---|---|---|---|
||`Funds`|`Funds`||`2025`|`2024`|
||`£000`|`£°000`||`£°000`|`£°000`|
|`Netoutgoingresourcesarestated`||||||
|`after(crediting)/charging:`||||||
|`Depreciation:ownedassets`|`540`||`-`|`540`|`458`|
|`Operatingleaserentals:`||||||
|`Hireofplantandequipment`|`38`||`-`|`38`|`38`|





||`Unrestricted`|`Restricted`|`TotalFunds`||
|---|---|---|---|---|
||`Funds`|`Funds`|`2023`||
||`£7000`|`£7000`|`£7000`||
|`Incomeandendowmentsfrom`|||||
|`Donationsand legacies`|`17`|`4`|`21`||
|`Othertradingactivities`|`5,760`|`-`|`5,760`||
|`Investments`|`117`|`-`|`117`||
|`Charitableactivities`|`6,012`|`-`|`6,012`||
|`Totalincomeandendowments`|`11,906`|`4`|`11,910`||
|`Expenditureon`|||||
|`Raisingfunds`|`(5,353)`|`-`|`(5,353)`||
|`Charitableactivities`|`(6,530)`|`(38)`|`(6,568)`||
|`Totalexpenditure`|`(11,883)`|`(38)`|`(11,921)`||
|`Netgains/(losses)oninvestments`|`150`|`-`|`150`||
|`Netincome/(expenditure)`|`173`|`(34)`|`139`||
|`Exceptionalitems`|`-`|`-`||`-`|
|`Otherrecognisedgains/(losses)`|||||
|`Gains/(losses)onrevaluationof`|||||
|`Fixedassetsandinvestmentproperties`|`(537)`|`-`|`(537)`||
|`Actuariallossesondefinedbenefit`|||||
|`pensionscheme(netofdeferredtax)`|`(167)`|`-`|`(167)`||
|`Netmovementinfunds`|`(531)`|`(34)`|`(565)`||
|`Reconciliationoffunds`|||||
|`Totalfundsbroughtforward`|`22,733`|`1]`|`22,744`||
|`Totalfundscarriedforward`|`22,202`|`(23)`|`22,179`||





## 

## 

|`a)`<br>`Group`||||
|---|---|---|---|
||`FreeholdLand`|`Plantand`||
||`andbuildings`|`equipment`|`Total`|
||`£7000`|`£7000`|`£7000`|
|`Cost`||||
|`At28March2024`|`8,136`|`2,880`|`11,016`|
|`Additions`|`713`|`81`|`794`|
|`Disposals`|`(173)`|`(32)`|`(205)`|
|`At31March2025`|`8,676`|`2,929`|`11,605`|
|`Depreciation`||||
|`At28March2024`|`4,421`|`2,300`|`6,721`|
|`Chargefortheperiod`|`375`|`165`|`540`|
|`Disposals`|`(173)`|`(32)`|`(205)`|
|`At31March2025`|`4,623`|`2,433`|`7,056`|
|`Netbookvalue`||||
|`At31March2025`|`4,053`|`496`|`4,549`|
|`At28March2024`|`3,715`|`580`|`4,295`|
|`b)`<br>`Foundation`||||
||`FreeholdLand`|`Plantand`||
||`andbuildings`|`equipment`|`Total`|
||`£°000`|`£7000`|`£7000`|
|`Cost`||||
|`At28March2024`|`8,136`|`2,042`|`10,178`|
|`Additions`|`713`|`81`|`794`|
|`Disposals`|`(173)`|`(32)`|`(205)`|
|`At31March2025`|`8,676`|`2,091`|`10,767`|
|`Depreciation`||||
|`At28March2024`|`4,42]`|`1,462`|`5,883`|
|`Chargefortheperiod`|`375`|`165`|`540`|
|`Disposals`|`(173)`|`(32)`|`(205)`|
|`At31March2025`|`4,623`|`1,595`|`6,218`|
|`Netbookvalue`||||
|`At31March2025`|`4,053`|`496`|`4,549`|
|`At28March2024`|`3,715`|`580`|`4,295`|





|||||`2025`|`2024`|
|---|---|---|---|---|---|
|||||`£°000`|`£000`|
|`100`|`Ordinarysharesof`<br>`£1`|`eachat`|`cost`|`866`|`866`|
|||||`866`|`866`|



## 

||`2025`|`2024`|
|---|---|---|
||`£7000`|`£7000`|
|`Marketvalueofpropertiesat28March2024`|`9,060`|`9,597`|
|`Revaluation`|`84`|`(537)`|
|`Marketvalueofpropertiesat`<br>`31March2025`|`9,144`|`9,060`|
|`Historicalcostvalueofassets`|`2,073`|`2,073`|





## 

||`Group`||`Foundation`||
|---|---|---|---|---|
||`2025`|`2024`|`2025`|`2024`|
||`£000`|`£000`|`£000`|`£000`|
|`Rentreceived:`|||||
|`Withinoneyear`|`49`|`21`|`49`|`21`|
|`Betweentwoandfiveyears`|`73`|`2`|`73`|`2`|
||`122`|`23`|`122`|`23`|



||`2025`|`2024`|
|---|---|---|
||`£7000`|`£7000`|
|`Marketvalueoflistedinvestmentat28March2024`|`8,366`|`8,379`|
|`Acquisitionsatcost`|`2,144`|`3,599`|
|`Disposalproceeds`|`(2,413)`|`(3,762)`|
|`(Losses)/gainsfortheyear`|`105`|`150`|
|`Marketvalueat31March2025`|`8,202`|`8,366`|
|`Cashholdingsat31March2025`|`2`|`147`|
|`Totalvalueoffixedassetinvestments`|`8,204`|`8,513`|
|`Historicalcostvalueofassets`|`7,989`|`8,270`|



||`2025`||`2024`|
|---|---|---|---|
||`£7000`||`£7000`|
|`UKinvestments`|`8,204`||`2,869`|
|`Overseasinvestments`||`-`|`5,644`|
||`8,204`||`8,513`|





## 

|||`2025`||`2024`|||
|---|---|---|---|---|---|---|
|||`£7000`|`%`|`£000`|`%`||
||`SarasinClimateActiveEndowmentsFund`|`3,614`|`44.1]`|`3,972`|`47.5`||
||`CharityAssetsTrust`|`4,588`|`55.9`|`-`||`-`|
||`USAFRN31/10/2025`|`-`|`-`|`336`|`4.0`||
||`RufferIliquidMultiStrategiesFund`|`-`|`-`|`296`|`3.5`||
||`RufferSICAVFixedIncomeZ GBPCap`|`-`|`-`|`1,334`|`15.9`||
||`RufferProtectionStrategies`|`-`|`-`|`296`|`3.5`||
||`WisdomTreeBrent`|`-`|`-`|`72`|`0.9`||
|||`8,202`|`100.0`|`6,306`|`1a`||
||`Otherinvestments(alllessthan3%)`|`-`|`-`|`2,060`|`24.7`||
|||`8,202`|`100.0`|`8,366`|`100.0`||
|`22`|`Stocks`||||||
|||`Group`||`Foundation`|||
|||`2025`|`2024`|`2025`|`2024`||
|||`£°000`|`£000`|`£000`|`£000`||
||`Goodsforresale`|`279`|`245`|`-`||`-`|
|`23`|`Debtors`||||||
|||`Group`||`Foundation`|||
|||`2025`|`2024`|`2025`|`2024`||
|||`£7000`|`£000`|`£000`|`£000`||
||`Amountsfallingdueaftermore`||||||
||`thanoneyear:`||||||
||`Tradedebtors`|`121`|`48`|`-`||`-`|
||`Amountsfallingduewithin`||||||
||`oneyear:`||||||
||`Tradedebtors`|`95]`|`760`|`34`|`74`||
||`Otherdebtors`|`167`|`55`|`4`|`22`||
||`Prepaymentsandaccruedincome`|`44]`|`344`|`343`|`270`||
||`Deferredtaxasset(seenote14)`|`9`|`9`|`-`||`-`|
|||`1,689`|`1,216`|`381`|`366`||





## 

||`Group`||`Foundation`||
|---|---|---|---|---|
||`2025`|`2024`|`2025`|`2024`|
||`£000`|`£7000`|`£000`|`£7000`|
|`Cashinhand`|`9`|`9`|`-`|`-`|
|`Cashatbank— Currentaccounts`|`535`|`390`|`292`|`251`|
|`Cashatbank— Depositaccounts`|`136`|`515`|`104`|`216`|
||`680`|`914`|`396`|`467`|
|`Inadditiontothecashatbankandinhandanddepositsabove,`||`included`|`withintheinvestment`|`portfoli`|
|`werecashholdingsof£1,989(2024£146,651)(seenote21).`|||||
|`Creditors:Amountsfallingduewithinoneyear`|||||
||`Group`||`Foundation`||
||`2025`|`2024`|`2025`|`2024`|
||`£000`|`£°000`|`£000`|`£7000`|
|`Tradecreditors`|`770`|`520`|`650`|`435`|
|`Othertaxationandsocialsecurity`|||||
|`Payable`|`148`|`105`|`64`|`3]`|
|`Othercreditors`|`70`|`42`|`13`|`4`|
|`Amountsowedtogroupundertakings`|`-`|`-`|`1,381`|`1,486`|
|`Accruals`|`137`|`217`|`78`|`146`|
|`Depositsinadvance`|`1,094`|`1,074`|`63`|`99`|
||`2,219`|`1,958`|`2,249`|`2,201`|
|`Creditors:Amountsfallingdueafteroneyear`|||||
||`Group`||`Foundation`||
||`2025`|`2024`|`2025`|`2024`|
||`£000`|`£7000`|`£000`|`£000`|
|`Depositsinadvance`|`237`|`106`|`-`|`-`|





## 

||`Group`||`Foundation`||||
|---|---|---|---|---|---|---|
||`2025`|`2024`|`2025`||`2024`||
||`£°000`|`£000`|`£7000`||`£°000`||
|`Paymentsmade:`|||||||
|`Withinoneyear`|`38`|`38`||`-`||`-`|
|`Betweentwoandfiveyears`|`73`|`110`||`-`||`-`|
||`111`|`148`||`-`||`-`|





## 

## 

## 

||`RestrictedFunds`|`RestrictedFunds`|`Unrestricted`|`Unrestricted`|`Funds`|`Funds`||
|---|---|---|---|---|---|---|---|
||`H&D`<br>`Fund`<br>`£°000`|`Chattels`<br>`Fund`<br>`£7000`|`Misc`<br>`Grant`|`M&D`<br>`Fund`<br>`£7000`|`General`<br>`Fund`<br>`£7000`||`Total`<br>`Funds`<br>`£°000`|
|`Fundbalancesat`||||||||
|`31March2025are`||||||||
|`representedby`||||||||
|`Tangibleassets`|`2,504`|`-`|`-`|`-`||`2,045`|`4,549`|
|`Investments`|`225`|`-`|`-`|`3,053`||`14,070`|`17,348`|
|`Currentassets`<br>`Liabilities`|`11`<br>`-`|`78`<br>`-`|`-`<br>`(80)`|`-`<br>`-`||`2,559`<br>`(2,376)`|`2,648`<br>`(2,456)`|
|`At31March2025`|`2,740`|`78`|`(80)`|`3,053`||`16,298`|`22,089`|
|`Movementoffunds`||||||||
|`duringtheyear`|`Asat28`<br>`March`<br>`2024`|`Income`|`Expenditure`|`Gains/`<br> <br>`Losses`|<br>|`Asat31`<br>`March`<br>`2025`||
||`(£)`|`(£)`|`(£)`|`(£)`||`(£)`||
|`RestrictedFunds`||||||||
|`HeritageandDevelopment`<br>`Fund`<br>`Chattels`<br>`Fund`|`2,740`<br>`78`|`-`<br>`-`|`-`<br>`-`||`-`<br>`-`|`2,740`<br>`78`||
|`NLHFGrant`|`(34)`|`115`|`(163)`||`-`|`(82)`||
|`NLSectretaireGrant`|`-`|`50`|`(50)`||`-`|`-`||
|`StanleySmith`<br>`HorticulturalTrustGrant`|`-`|`2`|`-`||`-`|`2`||
||`2,784`|`167`|`(213)`||`-`|`2,738`||
|`UnrestrictedFunds`||||||||
|`Maintenanceand`<br>`DevelopmentFund`|`3,750`|`-`|`(697)`||`-`|`3,053`||
|`GeneralFund`|`15,645`|`12,526`|`(12,062)`|`189`||`16,298`||
||`19,395`|`12,526`|`(12,759)`|`189`||`19,351`||
|`TotalFunds`|`22,179`|`12,693`|`(12,972)`|`189`||`22,089`||





## 

|`28`|<br>`GroupFunds(continued)`|||||||
|---|---|---|---|---|---|---|---|
|||`RestrictedFunds`||`Unrestricted`||`Funds`||
|||`H&D`|`Chattels`|`Misc`|`M&D`|`General`|`Total`|
|||`Fund`|`Fund`|`Grant`|`Fund`|`Fund`|`Funds`|
|||`£7000`|`£7000`||`£’000`|`£7000`|`£°000`|
||`Fundbalancesat`|||||||
||`28March2024are`|||||||
||`representedby`|||||||
||`Tangibleassets`|`2,504`|`-`|`-`|`-`|`1,791`|`4,295`|
||`Investments`|`225`|`-`|`-`|`3,750`|`13,598`|`17,573`|
||`Currentassets`|`11`|`78`|`-`|`-`|`2,286`|`2,375`|
||`Liabilities`|`-`|`-`|`(34)`|`-`|`(2,030)`|`(2,064)`|
||`At28March2024`|`2,740`|`78`|`(34)`|`3,750`|`15,645`|`22,179`|
||`Movementoffunds`|||||||
||`duringtheyear`|`Asat31`||||`Asat28`||
|||`March`|||`Gains/`|<br>`March`||
|||`2023`|`Income`|`Expenditure`|<br>`Losses`|<br>`2024`||
|||`(£)`|`(£)`|`(£)`|`(£)`|<br>`(£)`||
||`RestrictedFunds`|||||||
||`HeritageandDevelopment`|||||||
||`Fund`|`2,740`|`4`|`(4)`|`-`|<br>`2,740`||
||`ChattelsFund`|`78`|`-`|`-`|`-`|<br>`78`||
||`NLHFGrant`|`-`|`-`|`(34)`|`-`|<br>`(34)`||
|||`2,818`|`4`|`(38)`|`-`|<br>`2,784`||
||`UnrestrictedFunds`|||||||
||`Maintenanceand`|||||||
||`DevelopmentFund`|`5,748`|`-`|`-`|`(1,998)`|<br>`3,750`||
||`GeneralFund`|`14,178`|`11,906`|`(12,050)`|`1611`|`15,645`||
|||`19,926`|`11,906`|`(12,050)`|`(387)`|<br>`19,395`||
||`TotalFunds`|`22,744`|`11,910`|`(12,088)`|`(387)`|<br>`22,179`||





## 

## 

|`Aformalactuarialvaluationwascarriedoutasat`<br>`1April2022.Theresultsofthatvaluationhavebeen`<br>`projectedto31March2023withallowanceforpayrollandbenefitinformationandusingtheassumptions`<br>`setoutbelow.ThefiguresinthefollowingdisclosureweremeasuredusingtheProjectedUnitMethod.`|
|---|
|`Valuationdate`<br>`1April`<br>`2022`<br>`2019`|
|`Thevalueofthetechnicalprovisionswas:`<br>`7,245,000`<br>`6,260,000`|
|`Thevalueoftheassetsatthatdatewas:`<br>`5,927,000`<br>`4,911,000`|



||`2025`||`2024`||
|---|---|---|---|---|
||`£000`||`£7000`||
|`Definedbenefitobligation`<br>`Fairvalueofplanassets`|`(3,345)`<br>`3,970`|<br>|`(3,736)`<br>`4,355`|<br>|
|`Restrictiononrecognitionofasset`|`(625)`||`(619)`||
|`Netdefinedbenefit(liability)/asset`||`-`||`-`|





## 

## 

||`Period`||`Period`||
|---|---|---|---|---|
||`ended`||`ended`||
||`31/03/2025`||`28/03/2024`||
||`£7000`||`£7000`||
|`Servicecost:`|||||
|`Currentservicecost(netofemployeecontributions)`||`-`||`-`|
|`Administrationexpenses`||`-`||`-`|
|`Restrictionofrecognitionofassetdeemedirrecoverable`||`-`||`-`|
|`Netinterestexpense/(credit)`|`(32)`||`(36)`||
|`Charge/(credit)recognisedinprofitorloss`|`(32)`||`(36)`||
|`Re-measurementsofthenetliability:`|||||
|`Returnonschemeassets(excludingamountincludedinnetinterest`<br>`expense)`|`460`||`367`||
|`Actuarial(gains)/losses`|`(352)`||`(131)`||
|`Charge/(credit)recordedinotherrecognisedgainsorlosses`|`108`||`236`||
|`Totaldefinedbenefitcost/(credit)`|`76`||`200`||





## 

|`29`|`Pensionscheme(continued)`|||||||
|---|---|---|---|---|---|---|---|
||`Theprincipalactuarialassumptionsusedwere:`|||||||
|||||`31/03/2025`||`28/03/2024`||
||`Liabilitydiscountrate`|||`5.75%`||`4.85%`||
||`Inflationassumption- RPI`|||`3.10%`||`3.25%`||
||`Inflationassumption- CPI`|||`2.65%`||`2.75%`||
||`Rateofincreaseinsalaries`|||`n/a`||`n/a`||
||`Revaluationofdeferredpensions:`|||||||
||`allbenefitsaccrued`|||`2.65%`||`2.75%`||
||`Increasesforpensionsinpayment:`|||||||
||`benefitsaccruedpriorto6 April1997`|||`0.00%`||`0.00%`||
||`benefitsaccruedafter5 April1997`|||`2.65%`||`2.70%`||
||`Proportionofemployeesoptingforearlyretirement`|||`0.00%`||`0.00%`||
||`Proportionofemployeescommutingpensionforcash`|||`50.00%`||`50.00%`||
||`Expectedageatdeathofcurrentpensioneratage65:`|||||||
||`Maleaged65atyearend:`|||`86.4`||`86.4`||
||`Femaleaged65atyearend:`|||`88.7`||`88.7`||
||`Expectedageatdeathoffuturepensioneratage65:`|||||||
||`Maleaged45atyearend:`|||`87.4`||`87.4`||
||`Femaleaged45atyearend:`|||`89.8`||`89.8`||
||`Reconciliationofschemeassetsandliabilities`|||||||
|||`Assets`||`Liabilities`||`Total`||
|||`£°000`||`£7000`||`£°000`||
||`Atstartofperiod`|`4,355`||`(3,736)`||`619`||
||`Benefitspaid`|`(215)`||`215`|||`-`|
||`Administrationexpenses`|||||||
||`Contributionsfromtheemployer`|`82`|||`-`|`82`||
||`Interestincome/ (expense)`|`208`||`(176)`||`32`||
||`Returnonassets(excludingamountincludedinnetinterest`<br>`expense)`|`(460)`|||`-`|`(460)`||
||`Actuarialgains/(losses)`||`-`|`352`||`352`||
||`Gain/(loss)onplanintroductionsandchanges`|||||||
||`Atendofperiod`|`3,970`||`(3,345)`||`625`||





## 

## 

||`31/03/2025`|`28/03/2024`|
|---|---|---|
||`£7000`|`£7000`|
|`Interestincome`|`208`|`217`|
|`Returnonschemeassets(excludingamountincludedinnetinterest`<br>`expense)`<br>`Totalreturnonschemeassets`|`(460)`<br>`(252)`|`(367)`<br>`(150)`|
|`Themajorcategoriesofschemeassetsareasfollows:`|||
||`31/03/2025`|`28/03/2024`|
||`£7000`|`£7000`|
|`UKEquities`|||
|`OverseasEquities`<br>`Gilts`<br>`IndexLinked`|`1,325`<br>`2.798`|`1,342`<br>`3,119`|
|`AlternativeAssets`<br>`Cash`|`(83)`|`2B`|
|`Totalmarketvalueofassets`|`3,970`|`4,534`|





## 

||`2025`||`2024`||
|---|---|---|---|---|
||`£000`||`£000`||
|`Netincome/(expenditure)`|`(174)`||`(28)`||
|`Net(gains)/lossesoninvestments`|`(105)`||`(150)`||
|`Depreciationchargesonfixedassets`|`540`||`457`||
|`(Gain)/Writeoffoffixedasset`||`-`||`-`|
|`Taxcharge`||`-`||`-`|
|`Dividends,interestandrentsfrominvestments`|`(285)`||`(117)`||
|`Movementsondefinedbenefitpensionscheme`||`-`||`-`|
|`Movementincomponentsofworkingcapital:`|||||
|`Decrease/(increase)instocks`|`(34)`||`(75)`||
|`(Increase)/decreaseindebtors`|`(473)`||`72`||
|`(Decrease)/increaseincreditors`|`392`||`(344)`||
|`Netcashinflow/(outflow)fromoperatingactivities`|`(139)`||`(185)`||