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2025-04-05-accounts

Registered charity no. 271185

THE STANLEY PICKER TRUST

STATEMENT OF ACCOUNTS

5 APRIL 2025

CONTENTS

Page

  1. Legal and Administrative Details

      1. Trustees' Report
      1. Auditors' Report 10. Statement of Financial Activities 11. Balance Sheet
      1. Notes to the Accounts

FLETCHER & PARTNERS

CHARTERED ACCOUNTANTS

SALISBURY

Page 1

THE STANLEY PICKER TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 5 APRIL 2025

Trustees and Officers

Trustees: Rhoderick Peter Grosvenor Voremberg Alan Picker Safir Joan Arden Safir Stephen Pelton Address 1 Warren Park, Kingston upon Thames, KT2 7HX Registered number 271185

Professional Advisers

Bankers: Metro Bank, One Southampton Row, London WC1B 5HA Solicitors: Farrer & Co, 66 Lincoln's Inn Fields, London WC2A 3LH Accountants: Fletcher & Partners, Chartered Accountants, Crown Chambers, Bridge Street, Salisbury SP1 2LZ

Page 2

THE STANLEY PICKER TRUST TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report and the audited accounts of The Stanley Picker Trust for the year ended 5 April 2025. These have been prepared to comply with the Charities Act 2011, the charity's trust deed and the Statement of Recommended Practice "Accounting and Reporting by Charities (FRS102)".

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Stanley Picker Trust ("the charity") was established by the late Mr Stanley Picker under a Trust Deed dated 8 March 1976. The charity is unincorporated and all of the Trustees are individuals. The Trustees have the statutory power (under the Trustee Act 1925) to appoint new trustees and they have formulated a policy to ensure that any new Trustee is fully aware of the charity's aims and objectives. New Trustees are appointed by deed and existing Trustees are retired by deed.

The charity has a Grants Committee which reviews new applications received and the charity's ongoing programme of educational grants in the context of funds available for grant giving. The annual Grants Committee meeting is typically held in April and during that meeting grants are awarded for the forthcoming academic year with payment usually, but not always, commencing in September of the year in which the grant was awarded.

The charity is not part of a wider network of charitable organisations and there are no subsidiaries nor any other charities and organisations with which it co-operates in the pursuit of its charitable objectives.

Risk Management

The Trustees have considered the major risks to which the charity is exposed, and have formulated policies to mitigate those risks. They are perceived to be:

Fire - The alarm system at 1 Warren Park is regularly inspected and upgraded as necessary, and the buildings and collection are comprehensively insured against all risks.

Theft - The alarm and CCTV systems at 1 Warren Park have again been upgraded and the Trustees insure the collection at market value (as advised by Christie's) against theft and other risks.

Public Liability - The Trustees' insurance policy covers them for public liability.

Record Keeping - The Trust's records are kept at Warren Park and Farrer & Co. Most are kept in paper copy and many are duplicated electronically.

OBJECTIVES AND ACTIVITIES

The charity exists for the purpose of advancing public education generally and including the following at the discretion of the Trustees:

(a) the provision of an annual award or prize to a post-graduate student to pursue his or her studies in any branch of the fine arts at Kingston University or other college in Surrey;

(b) the provision of other prizes and awards for the study of painting and sculpture (and in particular for travel in the pursuit of such studies);

(c) the acquisition of works of art which the Trustees consider to be worthy of exhibition or study;

(d) permitting students to view, examine and study the works of art;

(e) the acquisition of land and buildings of any tenure for the purposes of providing one or more places of exhibition for the works of art;

(f) the improvement, equipment repair and reconstruction or adaptation as a place of exhibition of works of art of

Page 3

any land or buildings acquired and the maintenance and repair thereof;

Mr Picker died in May 1982 and bequeathed to the Trust his art collection and freehold property 1 Warren Park, Kingston Hill in which the works of art are generally kept. The Trustees maintain the property and the collection as a museum and provide guided tours of both by appointment.

1 Warren Park, where the house and gallery are situated may be visited by members of the public on approximately 30 open days, between April and October. The guided tours, which must be booked with the Curator in advance, last for approximately two hours and begin with a short history about Stanley Picker and the charity. Trained guides tour parties of up to 15 people at a time around the house and gallery. There is an entrance fee to defray the cost of providing guides. The Charity has also published ( in conjunction with Kingston University) a fully illustrated book about the house and collection which is available for purchase.

The house and collection are now widely acknowledged as an important and rare complete example of late 1960s modernist home specifically designed to accommodate the owner's collection of modern and contemporary painting and sculpture.

ACHIEVEMENTS AND PERFORMANCE

The charity was able to award grants totalling £130,749 compared with £139,003 the previous year. The Trustees' objectives in relation to its use of resources and grant-making activity for the year were:-

(a) to maintain and conserve to a high standard the house, garden and art collection at 1 Warren Park, to continue providing a programme of pre-booked guided tours for members of the public and to find further ways of enabling them to be available as a resource for learning and scholarly research without subjecting the property to damaging levels of wear and tear.

(b) to continue to support and enhance the facilities and activities of the Stanley Picker Gallery at Kingston University, which was originally built with funds provided by the Trust and has achieved the accolade of being an Arts Council England National Portfolio member.

(c) to continue to support the annual Stanley Picker Fellowships at Kingston University in Fine Art and Design which have now achieved international recognition and renown and attract a high standard of applicant.

(d) to make the house and art collection available for pre-arranged tours of undergraduate and postgraduate students at Kingston University, free of charge.

(e) to continue to provide other grants and bursaries for the purposes of education in Fine and Performing Arts, accepting that this element of the charity's work may have to be reduced when substantial expenditure is required in connection with (a) above.

The trustees feel that they achieved these objectives.

Realised gains on the charity's investments were £29,956 and unrealised losses totalled £1,863 whilst income received on listed investments totalled £152,817. The total return of £180,910 represents a increase of 2.4% of the value of the portfolio at the start of the year.

The charity undertook a full programme of public opening of the Picker House in 2024/25 as well as providing access for students from Kingston University. The cost of maintaining the house and art collection and of providing public tours and access for students is far from fully covered by admission charges, but the Trustees consider that the public opening is an important part of the charity's work because of the unique resource provided by the house, garden and art collection as a largely unaltered and complete example of a 1960's modernist home designed to accommodate the owners collection of paintings and sculpture as well as lifestyle.

The Trustees' first priority for educational grants is to continue its support of the Stanley Picker Gallery, which is

Page 4

recognised as a successful model of organisational collaboration between Higher Education (Kingston University), Public Sector (Arts Council England) and private philanthropy. Part of this collaboration is continuing to foster and support the renown Stanley Picker Fellowships at Kingston School of Art. In addition, the charity is intending to support a Stanley Picker Fellowship Research Project to examine the impact of the Fellowship on individual recipients and on the wider cultural sector since its inception in 1977.

The Trustees' policy in relation to educational grants and scholarships is to support and encourage students in performing arts as well as fine art. In most cases the trustees select the institutions to which such grants are to be made and those institutions award scholarships and bursaries to individual students according to need and merit. The Trustees have also set aside up to £100,000 to invest in "Instrument Trusts" which enable young virtuoso players of stringed instruments to obtain a top quality instrument to play and, all being well, to purchase over a period of up to 20 years, and the charity to participate in the potential increase in value of such instruments. The investments made by the charity so far have proved successful on both counts.

The charity does not engage in fundraising. The major factor outside of the Trustees' control that has an impact on the charity's objectives is the performance of the investments.

The charity has its own website which provides information about the Picker House and collection, the founder, how to book a tour and how to apply for grants and scholarships.

FUTURE PLANS

The Trustees' plans for the future include continuing development of projects with the Stanley Picker Gallery, Kingston University and developing digital means of public access to the house, garden and art collection at Warren Park.

PUBLIC BENEFIT

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission.

FINANCIAL REVIEW

For the purposes of comparison with previous and future years and in order to provide a true picture of the financial position of the charity at the accounting date, charitable grants due to be paid out after the year end for the 2024/2025 academic year have been included in the statements for this period.

When considering the level of grants to be awarded for 2024/2025, the Trustees took into account the realised gains and income received in previous accounting periods. During the year, the Trustees made charitable grants totalling £130,749 and spent a further £178,548 on the maintenance, conservation and public opening of the charity's property at Kingston in Surrey.

The Trustees are confident that the charity will be able to continue with its programme of making grants and looking after this property whilst ensuring that its investments are providing sufficient total return in order to meet the charity's objectives. The Trustees will continue to closely monitor the investment portfolio performance to ensure that the level of capital withdrawal from the Trusts investment portfolio is sustainable.

Review of financial position

After adjusting for the realised and unrealised gains on the charity's investments, the net assets at the end of the year were £12,435,092 (2024: £12,653,652).

The property at 1 Warren Park, Kingston is used for the Trust's charitable purposes. The land and buildings were revalued at market value in September 2021 at £5,000,000.

Investment Policy

The Trustees have delegated their investment management function over most of their investments to their investment advisors - JP Morgan Private Bank. The investment managers have a remit to invest for total return.

Page 5

During the period, the Trustees agreed to benchmark the performance of their investment managers against a composite benchmark comprising 70% MSCI World in local, 16% HFRI FoF Diversified hdg GBP, 10% Barclays Global Aggregate hdg GBP and 4% D J USB commodity TR, which will enable them in future to assess performance and identify issues that may require further attention.

The investment managers also hold approximately 17.5% of the Trust's investment funds on a non-discretionary account. These funds are invested in a portfolio of managed funds selected by the Trustees to complement the discretionary portfolio by providing non-correlated performance.

The Trustees were satisfied with the performance of the investment portfolios during the year.

The Trustees do not impose any ethical, social or environmental constraints upon the investment advisers. The charity's investment powers were modified by the Trustee Act 2000. As a consequence, the Trustees may invest the charity's assets as if they were absolutely entitled to them.

Reserves Policy

The Trustees have reviewed their reserves policy and consider that the present level of liquidity, with £12.4m of net assets, is satisfactory and prudent. In arriving at this decision, the Trustees allowed for likely charitable expenditure for the coming year together with anticipated incoming resources and proceeds from the realisation of investment assets. As a result the Trustees believe there are no material uncertainties about the Trust as a going concern.

The Trustees decide upon the total amount that may be distributed in a given year, taking into account the average of realised gains and incoming resources over a five year period. The Trustees have commissioned a Condition Report on the Picker House at 1 Warren Park from Loader Monteith in order to plan a long term programme of maintenance and conservation. The Trustees feel that they can budget for expenditure on the Warren Park property with a reasonable degree of accuracy.

Principal Source of Funding

The trust has a portfolio of investments which generate the income from which the costs of maintenance of the property and grants to students are met. The investments are managed by JP Morgan Private Bank. The Trustees also have a credit facility with J P Morgan Private Bank which enables them to draw funds to meet the Trust’s expenses at times when selling investments is considered disadvantageous. This has proved particularly beneficial when investment markets have been volatile.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Accounting and Reporting Responsibilities

The Trustees are responsible for preparing the Annual Report and the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law requires the Trustees to prepare financial statements, for each financial year, in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP) which give a true and fair view of the financial activities of the charity during the year and of its financial position at the end of the year. In preparing those statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any

Page 6

time the financial position of the charity and which enable them to ensure that the financial statements comply with the provisions of the Charities Act 2011. 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.

Rhoderick Peter Grosvenor Voremberg

Trustee

Date: 2 February 2026

Page 7

THE STANLEY PICKER TRUST REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 5 APRIL 2025

Opinion

We have audited the financial statements of The Stanley Picker Trust for the year ended 5 April 2025 which comprise the Statement of Financial Activities, Balance Sheet, and the notes to the financial statements, including a summary of the significant accounting policies, set out on pages 12 to 18. 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 financial statements:

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 financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs 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 financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charities' 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.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees' Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Page 8

THE STANLEY PICKER TRUST REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 5 APRIL 2025

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 where Charities Act 2011 requires us to report to you, if in our opinion:

Responsibilities of the Trustees

As explained more fully in the Trustees' Responsibilities Statement, set out on page 4, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, 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.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 financial statements.

We exercise professional judgement and maintain professional scepticism throughout the audit.

Our audit procedures were designed to provide reasonable assurance that they would detect irregularities, including non-compliance with relevant laws and regulations, and fraud. They included:

Page 9

THE STANLEY PICKER TRUST REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 5 APRIL 2025

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. 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’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Fletcher & Partners Chartered Accountants and Statutory Auditors Crown Chambers Bridge Street Salisbury, SP1 2LZ

3 February 2026

Fletcher & Partners are eligible to act as auditor in terms of section 1212 of the Companies Act 2006

Page 10

THE STANLEY PICKER TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2025

Note
INCOME FROM:
Investments
Dividends and interest on listed investments
Interest on cash deposits
Charitable activities
Visitor income
Visitor merchandise income
Other income
Sundry
Total income
EXPENDITURE ON:
Raising funds
Investment management fees
Charitable activities
Advancement of public education
2
Total expenditure
Realised gain/(losses) on investments and currency movements
Unrealised gains/(losses) on revaluation of investments
Net income/(expenditure)
Net movement in funds
13
TOTAL FUNDS AT 6 APRIL 2024
13
TOTAL FUNDS AT 5 APRIL 2025
13		 Total
Total
2025
2024
152,817
134,822
1,365
-
6,241
3,598
1,415
500
65
130
161,903
139,050
65,529
60,533
343,027
341,407
408,556
401,940
29,956
67,212
(1,863)
538,708
(218,560)
343,030
(218,560)
343,030
12,653,652
12,310,622
£12,435,092
£12,653,652
Unrestricted Funds

Page 11

THE STANLEY PICKER TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

Note
2025
FIXED ASSETS
Heritage Assets
5
4,979,206
Fixed Assets
6
1,833
Other investments
7
7,237,201
12,218,240
CURRENT ASSETS
Stock
9
5,540
Debtors
10
3,250
Cash at bank and in hand
239,449
Investments
8
46,065
294,304
Creditors falling due within one
year
11
77,452
77,452
NET CURRENT ASSETS
216,852
TOTAL ASSETS LESS CURRENT LIABILITIES
12,435,092
CREDITORS: Amounts falling due
after one year
12
-
TOTAL NET ASSETS
13
£12,435,092
TOTAL CHARITY FUNDS
13
£12,435,092
Signed on behalf of the Trustees:
Rhoderick Peter Grosvenor Voremberg
Trustee
Approved by the Trustees on
2 February 2026		 7,760
-
104,315
46,065		 2024
5,029,206
3,665
7,588,501
12,621,372
32,280
12,653,652
-
£12,653,652
£12,653,652		 2024
5,029,206
3,665
7,588,501
12,621,372
32,280
12,653,652
-
£12,653,652
£12,653,652
12,621,372
32,280
158,140
125,860
125,860
12,653,652
-
£12,653,652
£12,653,652

Page 12

THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2025

1. ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments and certain other assets to market value, and in accordance with the second edition of the Charities Statement of Recommended Practice (FRS102) issued in October 2019 and the Charities Act 2011. The Charity Constitutes a Public Benefit Entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charities ability to continue as a going concern. The area of judgement and key assumptions that have the most significant effect on the accounts are in relation to the value of heritage assets and investments.

The accounts are presented in Sterling.

Fund Structure

The Trusts funds are unrestricted and are available to be spent for any of the purposes of the Trust.

Heritage Assets

a. Property used for charitable purposes

This is considered to be a heritage assets partly because it was built by the settlor to hold the art collection and partly because it is an exceptional example of the architecture of its period. It is included in the Balance Sheet at a valuation. Depreciation is charged at 2% on buildings. A nil rate is used for freehold land because in the opinion of the Trustees, its life is considered to be indefinite.

b. Works of art These assets are included at cost. No depreciation is charged because, in the opinion of the Trustees, their life is considered to be indefinite.

Other fixed assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life.

Office equipment 20%

Investments

Investments are included at market value as at the balance sheet date, with any surplus or deficit on revaluation being dealt with through the Statement of Financial Activities.

Stock

This consists of books for resale, and is stated at the lower of cost and net realisable value.

Charitable activities - constructive obligations

Where specific commitments have been made prior to the period end for the charitable expenditure, any amounts which remain unpaid are included in the Statement of Financial Activities for the period.

Income

Voluntary income, donations and investment income are accounted for an a receivable basis by the Trust. Deposits for visitor income received in advance are treated as deferred income in the accounts.

Expenditure

Expenditure is accounted for on an accruals basis. The trust is not registered for VAT and all costs include input VAT where this has been charged.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the trust. The grants area accounted for where either the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the trust.

Support costs are all attributable to the one charitable activity, which is the advancement of public education.

Governance costs are the costs of managing the trust that do not relate to the provision of charitable activities.

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling at the date of the transaction. Exchange gains and losses are recognised through the Statement of financial activities.

Debtors

Debtors are measured at the amounts the charity anticipates it will receive from a debt or the amount it has paid in advance for goods or services.

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THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1. ACCOUNTING POLICIES continued

Cash at bank and in hand

Cash at bank and in hand includes cash and cash on deposit.

Current asset Investments

Current asset investments consist of investment trusts that are considered to be programme related investments and are measured at cost less any impairments and repayments.

Pension costs

Contributions in respect of the charity's defined contributions scheme are charged as expenditure in the period to which they relate.

Liabilities

Liabilities are measured at the amounts the charity anticipates it will pay to settle a debt or the amount it has received as an advance payment for goods or services it must provide.

2. CHARITABLE ACTIVITIES: ADVANCEMENT OF PUBLIC EDUCATION

Educational Grants
Bursaries
Royal Academy of Dramatic Art
Royal Northern College of Music
Royal Academy of Arts
London Academy of Music & Dramatic Art
Royal Academy of Music
Royal College of Music
Royal Conservatoire of Scotland
ArtsEd
City & Guilds London Art
English National Ballet
Northern Ballet
Queen Elizabeth Scholarship Trust
The Young Classical Artist Trust
Welsh National Opera
Special Awards
Friends of Israel Museum
TATE Britain
Whitechapel Art Gallery
Matt's Gallery
Queen Elizabeth Scholarship Trust
Kingston University
Stanley Picker Fellowships and Gallery
Fine Art School		 -
5,000
-
-
-
5,000
5,000
-
5,000
5,000
5,000
5,000
5,000
5,000
5,909
-
5,000
9,840
-
43,000
22,000		 2025
45,000
20,749
65,000

130,749		 5,000
5,000
5,000
4,000
5,000
-
5,000
5,000
5,000
-
5,000
-
-
5,000
5,973
5,000
5,000
9,030
-
43,000
22,000		 2024
49,000
25,003
65,000

139,003

All grants have been awarded on an annual basis and charged to the SOFA accordingly. All grants have been made to institutions.

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THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

2. CHARITABLE ACTIVITIES: ADVANCEMENT OF PUBLIC EDUCATION

Art Gallery and Museum - Warren Park
Art restoration
8,516
Council tax and business rates
3,258
Staff wages and housekeeping
41,219
Light and heating
9,266
Repairs, servicing and maintenance
1,663
Water rates
1,786
Insurance
17,290
Fire and security
9,324
Telephones
3,777
IT, postage and stationery
2,337
Guides' fees
2,040
Garden expenses
14,941
Cleaning
3,411
Books and publications
2,220
Bank charges and sundries
5,578
Depreciation
51,832
Support costs (Note 4 )
Governance Costs (Note 4)
3. STAFF COSTS
Warren Park - staffing costs
Pension costs
Average number of employees during the year
Administration and household		 2025
178,458
£15,648
18,172
£343,027
2025
40,200
1,019
£41,219
1		 -
3,143
39,635
6,746
2,301
2,567
16,566
10,611
2,633
3,728
600
31,826
884
500
5,771
51,832		 2024
179,343
-
23,061		 2024
£341,407
2024
38,025
1,610		 2024
£39,635
1

During the year there were no employees (2024: 0) that received benefits of more than £60,000.

4.a1 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS - 2025

Basis of
Apportionment
Legal fees
Invoiced
Condition Surveys
Invoiced
Painting Surveys
Invoiced
Reimbursement of Trustees' expenses
Governance
Auditors fees - audit services
Governance
Auditors fees - other services
Governance		 General
support
2025
-
7,200
8,448
-
-
£15,648		 Governance
2025
1,248
-
-
3,506
12,165
1,253
£18,172		 Total
2025
1,248
7,200
8,448
3,506
12,165
1,253
£33,820

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THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

4.a2 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS - 2024

Basis of
Apportionment
Legal fees - Farrer
Invoiced
Reimbursement of Trustees' travel
Governance
expenses
Auditors fees - audit services
Governance
Auditors fees - other services
Governance
4.b
GOVERNANCE COSTS
Legal fees
Reimbursement of Trustees' travel expenses
Auditors fees - audit services
Auditors fees - other services
5.a
HERITAGE ASSETS
Cost/Valuation
As at 5 April 2024
Revaluation
As at 5 April 2025
Depreciation
As at 5 April 2024
Revaluation
Charge for year
As at 5 April 2025
Net Book Value
As at 5 April 2025
As at 5 April 2024

The heritage assets, consisting of the property and works of art, were bequeathed to the Trust in May 1982. The Trustees' current policy is not to make further acquisition of heritage assets or dispose of any of the existing assets. The policy is therefore centred on the preservation of the existing assets. Two members of staff are employed at Warren Park. The trustees' have appointed an architect to ensure that the property is regularly reviewed and maintained. The works of art are also subject to regular reviews and the Trustees have engaged the services of a professional conservator who has reported on the condition of all the paintings in the collection and will be undertaking a prioritized programme of conservation.

The Freehold property was formally valued in September 2021 by Robert Holmes & Company Limited, Chartered Surveyors on an open market valuation basis.

Page 16

THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

5.b SUMMARY ANALYSIS OF HERITAGE ASSET TRANSACTIONS

Freehold land & buildings
Cost/Valuation
Revaluation
Total cost
Charge for depreciation		 2025
5,000,000
-
£5,000,000
£50,000		 2024
5,000,000
-
£5,000,000
£50,000		 2023
5,000,000
-
£5,000,000
£50,000		 2022
5,000,000
-
£5,000,000
£50,000		 2021
4,000,000
1,000,000		 2021
£5,000,000
£-

Works of Art

There have been no additions, disposals or impairments to the Works of Art in the last five years. The assets are fully catalogued and insured based on Christies' valuations.

6. FIXED ASSETS

Cost
As at 6 April 2024
Additions
As at 5 April 2025
Depreciation
As at 6 April 2024
Charge for the year
As at 5 April 2025
Net Book Value
As at 5 April 2025
As at 5 April 2024
7.
FIXED ASSET INVESTMENTS
Market value as at 5 April 2024
Additions at cost
Disposals at opening market value
Unrealised gains / (losses) on revaluation
Increase / (decrease) in investment cash
Market value as at 5 April 2025
Represented by
Cash Deposits
Investments held in the UK
Investments held outside the UK
Historical cost as at 5 April 2025		 2025
Investment		 2025
Investment		 2025 & Office Equipment Office Equipment Office Equipment Office Equipment Office Equipment

Fixture & Fittings

21,072
-
21,072
17,407
1,832
19,239
£1,833
£3,665
2024
Investment		 2024
Portfolio Portfolio
7,395,557
2,595,560
(2,838,304)
538,708
(103,020)		 Portfolio
£7,588,501
£55,832
£3,615,952
£3,916,717
£7,588,501
£6,140,116

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THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

8. CURRENT ASSET INVESTMENTS

CURRENT ASSET INVESTMENTS
The Julia Loucks Violin Trust
The Jamie Walton Cello Trust
The Alicja Smietana Violin Trust
The Emily Smith Cello Trust
The Sophie Rosa Violin Trust		 2025
9,069
10,000
10,000
10,000
6,996
£46,065		 2024
9,069
10,000
10,000
10,000
6,996		 2024
£46,065

The Trustees consider that the investments in the instrument trusts are programme related investments. They represent contributions via a trust to purchase an instrument for the exclusive use of a young player.

There have been no additions, disposals, impairments, or repayments of the investments during the period.

9. STOCK

Books for resale
10.
DEBTORS
Prepayments and accrued income		 2025
5,540
£5,540
2025
3,250
£3,250		 2024
7,760		 2024
£7,760
2024
-
£ -

11. CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year
Bank loans and overdrafts
Accruals and deferred income
Other creditors		 2025
46,969
12,160
18,323
£77,452		 2024
96,768
12,897
16,195		 2024
£125,860

Deferred income relates to income received for guided tours in the following year. None was brought forward or carried forward at the year end.

12 CREDITORS: Amounts falling due after one year

CREDITORS: Amounts falling due after one year
Grants payable 2025
-
£ -		 2024
-
£ -

Page 18

THE STANLEY PICKER TRUST

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

13.1 FUND MOVEMENTS - 2025

Balance at Gains and Balance at
06/04/2024 Income Expenditure Losses 05/04/2025
Unrestricted Fund 12,653,652 161,903 (408,556) 28,093 12,435,092
FUND MOVEMENTS - 2024
Balance at Gains and Balance at
06/04/2023 Income Expenditure Losses 05/04/2024
Unrestricted Fund 12,310,622 139,050 (401,940) 605,920 12,653,652

13.2 FUND MOVEMENTS - 2024

14. TRANSACTIONS WITH TRUSTEES

Expenses totalling £3,329 (2024: £9,134) were reimbursed to 2 trustees (2024: 3) for travel expenses, printing and stationery, telephone and entertaining and subsistence during the year.

15. LEGAL FORM

The Stanley Picker Trust is a charity first registered in England and Wales in 1976 based within the Royal Borough of Kingston-upon-Thames. Its registered office is 1 Warren Park, Kingston upon Thames, KT2 7HX