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|||||Page|
|---|---|---|---|---|
|Reference and administrative|||details ofthe Charity, its Trustees and advisers|1-2|
|Trustees' report||||3-9|
|Independent|auditor's|report|on the financial statements|10-13|
|Consolidated|statement|offinancial activities||14|
|Consolidated|balance sheet|||15|
|Charity balance sheet||||16|
|Consolidated|statement|ofcash flows|||
|Notes to the|financial statements|||18-40|





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|||FOR THE|YEAR ENDED 31DE|CEMBER 2022|||
|---|---|---|---|---|---|---|
||||Unrestricted|Endowment|Total|Total|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
||||6|E|E|5|
|Income and endowments||from:|||||
|Charitable<br>activities|||3,442,517||3,442,517|2,606,803|
|Other trading<br>activities|||1,149,051||1,149,051|877,476|
|Investments|||104,063|56,034|160,097|213,779|
|Other incoming<br>resources||||||61,781|
|Total income and endowments|||4,695,631|56,034|4,751,665|3,759,839|
|Expenditure<br>on:|||||||
|Raising funds:|||||||
|Fundraising<br>trading|||990,794||990,794|637,490|
|Investment<br>management||and bank|||||
|charges|||76,626|27,375|104,001|101,988|
|Charitable<br>activities:|||||||
|Upkeep ofthe castle|||2,176,033||2,176,033|1,587,698|
|Costs ofadmissions|and|castle|||||
|opening|||875,336||875,336|651,253|
|Governance<br>costs|||61,192||61,192|46,318|
|Total expenditure|||4,179,981|27,375|4,207,356|3,024,747|
|Net income before net (losses)/gains|||||||
|on investments|||515,650|28,659|544,309|735,092|
|Net (losses)/gains<br>on investments|||(535,647)|(386,791)|(922,438)|520,549|
|Net movement<br>in funds|||(19,997)|(358,132)|(378,129)|1,355,741|
|Reconciliation<br>offunds:|||||||
|Total funds brought<br>forward|||10,658,142|3,986,781|14,644,923|13,289,182|
|Net movement<br>in funds|||(19,997)|(358,132)|(378,129)|1,355,741|
|Total funds carried forward|||10,638,145|3,628,649|14,266,794|14,644,923|





## 




## 

## 

|||CHARITY|CHARITY|BALANCE SHEET|||
|---|---|---|---|---|---|---|
|||AS AT|31|DECEMBER 2022|||
|||Note||2022f||2021f|
|Fixed assets|||||||
|Tangible assets|||13|827,255||655,768|
|Heritage assets|||15|475,683||475,683|
|Investments|||16|10,826,491||10,363,580|
|||||12,129,429||11,495,031|
|Current assets|||||||
|Debtors|||18|1,314,795|1,267,056||
|Cash at bank and in hand||||757,235|1,899,755||
|||||2,072,030|3,166,811||
|Creditors: amounts|falling due within one||||||
|year|||19|(155,847)|(116,084)||
|Net current assets||||1,916,183||3,050,727|
|Total assets less current liabilities||||14,045,612||14,545,758|
|Total net assets||||14,045,612||14,545,758|
|Charity funds|||||||
|Endowment<br>funds||20||3,628,649||3,986,781|
|Unrestricted<br>funds||20||10,416,963||10,558,977|
|Total funds||||14,045,612||14,545,758|





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## 

|||FOR T|HE|YEAR ENDED 31 DECEM|BER 20|22|||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||Note||5|E|
|Cash flows from operating||activities|||||||
|Net cash|used<br>in operating|activities||||23|696,459|194,146|
|Cash flows from investing||activities|||||||
|Bank interest|||||||1,353|230|
|Proceeds|from the sale oftangible<br>fixed||assets||||3,750||
|Purchase|oftangible<br>fixed assets||||||(256,768)|(16,397)|
|Purchase|of investments||||||(1,300,000)||
|Net cash|used in investing|activities|||||(1,551,665)|(16,167)|
|Change|in cash and cash|equivalents|in|the year|||(855,206)|177,979|
|Cash and|cash equivalents|at the beginning||ofthe year|||2,415,578|2,237,599|
|Cash and cash equivalents||at the end of||the year||24|1,560,372|2,415,578|
|The notes on pages 18to40 form part ofthese financial statements|||||||||





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|Freehold property,|Freehold property,|Freehold property,|10 - 20'/o straight|10 - 20'/o straight|line|line|
|---|---|---|---|---|---|---|
|improvements|&gardens||||||
|Motor vehicles||&groundsmens'-|25'k straight|line|||
|equipment|||||||
|Restaurant<br>&|gift shop fixtures &-||10/o - 33/o|straight||line|
|fittings|||||||
|Castle fixtures||&fittings<br>&|10/o - 33/o|straight||line|
|groundsmens'||equipment|||||
|Fixtures, fittings||&computer|254/o - 33/o|straight||line|
|equipment|||||||



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|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2022|2022|2021|
|6|K|F|
|3,442,517|3,442,517|2,606,803|



## 

## 

|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||6|6|6|
|Subsidiary|income|796,522|796,522|590,080|
|Rental/car|park income|312,529|312,529|287,396|
|Facility hire||40,000|40,000||
|Total 2022||1,149,051|1,149,051|877,476|



## 

|||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2021|
|||6|6|6|6|
|Investment|income|102,710|56,034|158,744|213,549|
|Bank interest||1,353||1,353|230|
|Total 2022||104,063|56,034|160,097|213,779|



## 



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## 

||||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|funds|
||||||||2022|2022|2021|
||||||||6|6|6|
||Government||grants||||||17,403|
||Insurance|income|||||||44,378|
||Total 2022||||||||61,781|
|8,|Finance costs|||||||||
|||||||Unrestricted|Endowment|Total|Total|
|||||||funds|funds|funds|funds|
|||||||2022|2022|2022|2021|
|||||||6|6|6|6|
||Investment||management||fees and bank|||||
||charges|||||76,626|27,375|104,001|101,988|
|9.|Analysis|ofexpenditure|||on charitable|activities||||
||Summary||by fund|type||||||
||||||||Unrestricted|||
||||||||funds|Total|Total|
||||||||2022|2022|2021|
||||||||6|||
||Upkeep ofthe Castle||||||2,176,033|2,176,033|1,587,698|
||Cost ofadmissions|||and|Castle opening||875,336|875,336|651,253|
||Governance||costs||||61,192|61,192|46,318|
||Total 2022||||||3,112,561|3,112,561|2,285,269|





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## 

|||Staff costs|Staff costs|Depreciation|Depreciation|Other costs|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||2022||2022|2022|2022|2021|
||||5||5|8|6|F|
|Upkeep ofthe Castle|||841,132||64,511|1,270,390|2,176,033|1,587,698|
|Cost ofadmissions<br>and|Castle||||||||
|opening|||423,664|||451,672|875,336|651,253|
|Governance<br>costs|||7,741|||53,451|61,192|46,318|
|Total 2022|||1,272,537||64,511|1,775,513|3,112,561|2,285,269|
|Net income/(expenditure)|||||||||
|This is stated after charging:|||||||||
||||||||2022|2021|
||||||||E|5|
|Depreciation<br>oftangible|fixed|assets|||||93,491|93,442|
|Fees payable to the Charity's||auditor|in respect|of:|||||
|- Accountancy<br>and audit|||||||16,000|15,750|
|Operating<br>lease rentals|||||||31,241|18,337|
|During the year, no Trustees||received any benefits|||in kind (2021:EN8).||||
|During the year, 1 Trustee received|||reimbursement||ofexpenses|of5185(2021:|EN8).||



## 

||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||5|8|6|5|
|Wages and|salaries||1,384,025|1,081,503|1,211,226|973,339|
|Social security costs|||75,286|63,826|68,234|60,178|
|Contribution|to defined contribution|pension|||||
|schemes|||51,644|52,722|49,244|52,509|
||||1,510,955|1,198,051|1,328,704|1,086,026|





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## 

|||||Group|Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
|||||2022|2021||2022|2021|
|||||No.|No.||No.|No.|
|Restaurant|and|shop staff||5||5|||
|Administration||||4||4|3|3|
|Castle opening||staff (temporary)||76||56|70|63|
|||||85||65|73|66|
|The number|of|employees|whose employee|benefits (excluding|employer|pension costs) exceeded|||
|660,000was:|||||||||
||||||||Group|Group|
||||||||2022|2021|
||||||||No.|No.|



## 



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## 

||Freehold|Coffee|Motor vehicles|Restaurant|Fixtures,||
|---|---|---|---|---|---|---|
||property,|shop|&|&gift shop|fittings &||
||improvements|fixtures<br>&|groundsmens'|fixtures &|computer||
||&gardens|fittings|equipment|fittings|equipment|Total|
||E|6|6|E|6|5|
|Cost or valuation|||||||
|At 1 January 2022|2,545,857|63,508|161,722|182,063|434,736|3,387,886|
|Additions||5,388|29,500|13,780|208,100|256,768|
|Disposals||(611)|(13,755)|(2,746)|(29,969)|(47,081)|
|At 31 December 2022|2,545,857|68,285|177,467|193,097|612,867|3,597,573|
|Depreciation|||||||
|At 1 January 2022|2,023,902|49,469|138,503|120,677|324,142|2,656,693|
|Charge for the year|41,272|4,374|10,225|24,606|13,014|93,491|
|On disposals||(611)|(12,153)|(2,746)|(29,969)|(45,479)|
|At 31 December 2022|2,065,174|53,232|136,575|142,537|307,187|2,704,705|
|Net book value|||||||
|At 31 December 2022|480,683|15,053|40,892|50,560|305,680|892,868|
|At 31 December 2021|521,955|14,039|23,219|61,386|110,594|731,193|





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## 

||Freehold|Motor|Fixtures &||
|---|---|---|---|---|
||property<br>5|vehicles<br>5|fittings<br>8|Total<br>6|
|Cost or valuation|||||
|At 1 January 2022|2,545,857|161,722|434,736|3,142,315|
|Additions||29,500|208,100|237,600|
|Disposals||(13,755)|(29,969)|(43,724)|
|At 31 December 2022|2,545,857|177,467|612,867|3,336,191|
|Depreciation|||||
|At 1 January 2022|2,023,902|138,503|324,142|2,486,547|
|Charge for the year|41,272|10,225|13,014|64,511|
|On disposals||(12,153)|(29,969)|(42,122)|
|At 31 December 2022|2,065,174|136,575|307,187|2,508,936|
|Net book value|||||
|At 31 December 2022|480,683|40,892|305,680|827,255|
|At 31 December 2021|521,955|23,219|110,594|655,768|





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|||Endowment|East Wing|General fund||
|---|---|---|---|---|---|
|||fund|sinking<br>fund|investments|Total|
|Group||6|6||6|
|Cost or valuation||||||
|At 1 January 2022||3,986,781|42,381|6,334,318|10,363,480|
|Investment<br>income||56,034|1,859|100,851|158,744|
|Management<br>fees||(27,375)|(305)|(45,715)|(73,395)|
|Realised and unrealised|gains/(losses)|(386,791)|(3,875)|(531,772)|(922,438)|
|Additions||||1,300,000|1,300,000|
|At 31 December 2022||3,628,649|40,060|7,157,682|10,826,391|
|Net book value||||||
|At 31 December 2022||3,628,649|40,060|7,157,682|10,826,391|
|At 31 December 2021||3,986,781|42,381|6,334,318|10,363,480|





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## 

||Shares|in|Endowment|East Wing|General fund||
|---|---|---|---|---|---|---|
||subsidiary||fund|sinking<br>fund|investments|Total|
|Charity|6||E|6|6|6|
|Cost or valuation|||||||
|At 1 January 2022||100|3,986,781|42,381|6,334,318|10,363,580|
|Investment<br>income|||56,034|1,859|100,851|158,744|
|Management<br>fees|||(27,375)|(305)|(45,715)|(73,395)|
|Realised and unrealised|||||||
|gains/(losses)|||(386,791)|(3,875)|(531,772)|(922,438)|
|Additions|||||1,300,000|1,300,000|
|At 31 December 2022||100|3,628,649|40,060|7,157,682|10,826,491|
|Net book value|||||||
|At 31 December 2022||100|3,628,649|40,060|7,157,682|10,826,491|
|At 31 December 2021||100|3,986,781|42,381|6,334,318|10,363.580|



## 

|Name|||||Company||Class of|Holding|
|---|---|---|---|---|---|---|---|---|
||||||number||shares||
|Arundel|Castle Enterprises||Limited||01521264||Ordinary|1PP'/o|
|The financial||results ofthe|subsidiary|for the year were;|||||
|Name||||Income|Expenditure|Profit/(Loss)||Net assets|
|||||6|6|for|the year|6|
||||||||6||
|Arundel|Castle Enterprises||Limited|797,160|(639,271)||157,889|221,282|





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## 

|Duke of N|orfolk. The fund is represent|ed<br>by:||||
|---|---|---|---|---|---|
|||Market|Cost|Market Value|Cost|
|||Value 2022|2022|2021|2021|
|||6|6|F|E|
|UK listed investments||200,037|198,844|288,117|237,099|
|Overseas|listed investments|1,845,660|1,340,278|2,204,466|1,399,105|
|Other unlisted<br>securities<br>Bonds and fixed interest||873,291<br>~47<br>41|950,368<br>474 591|752,784<br>640700|775,961<br>~93 2|
|Sub total||3,410,329|2,964,081|3,886,147|3,005,694|
|Investment|deposit account|~277<br>59|~2776 9|100634|~tiUlu|
|Total||3627900|3 101740|3906701|~31<br>328|



## 

|This repres<br>by:|ent|s<br>funds<br>invested<br>in 19|93for future<br>restoration|of the East|Wing. The fund|is represented|
|---|---|---|---|---|---|---|
||||Market|Cost|Market Value|Cost|
||||Value 2022|2022|2021|2021|
|Other unlisted||investments|6<br>~3tl<br>94|6<br> ~34 1|6<br>34768|5<br> ~47 4|
|Sub total<br>Investment<br>Total|deposit account||30,894<br>~97 7<br>~4061|34,134<br>9167<br> ~307|34,768<br>7613<br> ~42<br>1|34,134<br>7613<br>41 747|





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## 

|The fund|is re|present|ed<br>by:||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Market|||Cost|Market Value|Cost|
||||||Value 2022|||2022|2021|2021|
|||||||6||6|F|5|
|UK listed investments||||||315,669||340,594|412,203|367,593|
|Overseas|listed investments||||2,526,926|||2,300,232|2,656,958|2,144,458|
|Other unlisted||securities|||1,439,077|||1,601,348|1,359,818|1,351,954|
|Bonds and fixed interest|||||~442||720|~1tm~22|~14 2 90|~14<br>144|
|Sub total|||||5,711,397|||5,742,496|5,911,969|5,297,149|
|Investment|deposit account||||1|440|013|1 440 013|~422<br>49|~422|
|Total|||||7156||410|7107509|6334310|5719490|
|The Trustees||consider the following||investment|to|be|material|(over 5% of total investment||fund) to th|
|market value||ofthe porffolio at 31 December 2022:|||||||||
|Schroder Diversified|||Alternative - 5.8%||||||||
|Stocks|||||||||||
||||||||||Group|Group|
||||||||||2022|2021|
||||||||||E|6|
|Gift shop goods for resale|||||||||87,541|81,382|
|Restaurant|stock||||||||2117|2,291|
||||||||||89,658|83,673|




## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||6|6|6|F|
|Due within one year||||||
|Trade debtors||120,021|35,743|116,737|29,857|
|Amounts<br>owed by group undertakings||||733,283|575,896|
|Other debtors||68,149|320,646|68,149|320,646|
|Prepayments|and accrued income|396,626|340,659|396,626|340,657|
|||584,796|697,048|1,314,795|1,267,056|





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## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||6|E|E|E|
|Trade creditors||55,436|8,237|54,985|8,013|
|Other taxation and social security||1,526|22,898||22,144|
|Other creditors||600|250|600|250|
|Accruals and deferred|income|105,412|90,347|100,262|85,677|
|||162,974|121,732|155,847|116,084|





## 

## 

## 

## 

|Statement offunds|- curren|t year|||||
|---|---|---|---|---|---|---|
|||||||Balance at 31|
|||Balance at 1|||Gains/|December|
|||January 2022|Income|Expenditure|(Losses)|2022|
|||5|6|E||6|
|Unrestricted<br>funds|||||||
|Designated<br>funds|||||||
|East Wing Sinking Fund||42,381|1,859|(305)|(3,874)|40,061|
|General funds|||||||
|General funds||10,615,761|4,693,772|(4,179,676)|(531,773)|10,598,084|
|Total Unrestricted|funds|10,658,142|4,695,631|(4,179,981)|(535,647)|10,638,145|
|Endowment<br>funds|||||||
|Endowment<br>funds||3,986,781|56,034|(27,375)|(386,791)|3,628,649|
|Total offunds||14,644,923|4,751,665|(4,207,356)|(922,438)|14,266,794|





## 

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## 

## 

|Statement|offunds|- prior y|ear|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at||||31|
||||1 January|||Gains/|December|
||||2021|Income|Expenditure|(Losses)|2021|
||||5||5|5|5|
|Unrestricted|funds|||||||
|Designated|funds|||||||
|East Wing Sinking Fund|||42,825|1,290|(306)|(1,428)|42,381|
|General funds||||||||
|General funds|||9,556,167|3,627,914|(2,997,442)|429,122|10,615,761|
|Total Unrestricted||funds|9,598,992|3,629,204|(2,997.748)|427,694|10,658,142|
|Endowment|funds|||||||
|Endowment|funds||3,690,190|130,635|(26,999)|192,955|3,986,781|
|Total offunds|||13,289,182|3,759,839|(3,024,747)|620,649|14,644,923|





## 

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## 

## 

## 

|Summary|offunds - current ye|ar|||||
|---|---|---|---|---|---|---|
|||||||Balance at 31|
|||Balance at 1|||Gains/|December|
|||January 2022|Income|Expenditure|(Losses)|2022|
|||E|6|6|6||
|Designated|funds|42,381|1,859|(305)|(3,874)|40,061|
|General funds||10,615,761|4,693,772|(4,179,676)|(531,773)|10,598,084|
|Endowment|funds|3,986,781|56,034|(27,375)|(386,791)|3,628,649|
|||14,644,923|4,751,665|(4,207,356)|(922,438)|14,266,794|
|Summary|offunds - prior year||||||
|||||||Balance at|
|||Balance at||||31|
|||1 January|||Gains/|December|
|||2021|Income|Expenditure|(Losses)|2021|
||||F|6|E|6|
|Designated|funds|42,825|1,290|(306)|(1,428)|42,381|
|General funds||9,556,167|3,627,914|(2,997,442)|429,122|10,615,761|
|Endowment|funds|3,690,190|130,635|(26,999)|192,955|3,986,781|
|||13,289,182|3,759,839|(3,024,747)|620,649|14,644,923|



## 

|Analysis<br>of net assets between funds - cur|rent year|||
|---|---|---|---|
||Unrestricted|Endowment|Total|
||funds|funds|funds|
||2022|2022|2022|
||6|6|6|
|Tangible fixed assets|892,868||892,868|
|Fixed asset investments|7,197,742|3,628.649|10,826,391|
|Heritage assets|475,683||475,683|
|Current assets|2,234,826||2,234,826|
|Creditors due within one year|(162,974)||(162,974)|
|Total|10,638,145|3,628,649|14,266,794|





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|22.|Analysis ofnet assets between|Analysis ofnet assets between|Analysis ofnet assets between|Analysis ofnet assets between|funds (continued)||||
|---|---|---|---|---|---|---|---|---|
||Analysis ofnet assets between||||funds - prior year||||
|||||||Unrestricted|Endowment|Total|
|||||||funds|funds|funds|
|||||||2021|2021|2021|
|||||||6|6|6|
||Tangible<br>fixed assets|||||731,193||731,193|
||Fixed asset investments|||||6,376,699|3,986,781|10,363,480|
||Heritage assets|||||475,683||475,683|
||Current assets|||||3,196,299||3,196,299|
||Creditors due within||one year|||(121,732)||(121,732)|
||Total|||||10,658,142|3,986,781|14,644,923|
|23.|Reconciliation<br>of|net movement|||in funds to net cash flow from operating||activities||
||||||||Group|Group|
||||||||2022|2021|
|||||||||6|
||Net income/expenditure|||for the year (as per Statement||of Financial|||
||Activities)||||||(378,129)|1,355,741|
||Adjustments<br>for:||||||||
||Depreciation<br>charges||||||93,491|93,442|
||(Gains)/losses<br>on investments||||||922,438|(620,649)|
||Investment<br>income||||||(160,097)|(213,779)|
||Loss/(profit)<br>on the|sale offixed assets|||||(2,148)|3,706|
||Decrease/(increase)||in|stocks|||(5,985)|29,782|
||Decrease/(increase)||in|debtors|||112,252|(415,319)|
||Increase/(decrease)||in creditors||||41,242|(111,135)|
||Investment<br>management|||fees paid|by fund||73,395|72,357|
||Net cash provided|by||operating|activities||696,459|194,146|





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## 

|||Group|Group|
|---|---|---|---|
|||2022|2021|
|||5|5|
|Cash|in hand|1,560,372|2,415,578|
|Total|cash and cash equivalents|1,560,372|2,415,578|



## 

||||||||||At 31|
|---|---|---|---|---|---|---|---|---|---|
|||||||At|1 January||December|
||||||||2022|Cash flows|2022|
||||||||5|E|5|
|Cash|at|bank|and|in|hand||2,415,578|(855,206)|1,560,372|
||||||||2,415,578|(855,206)|1,560,372|



## 

|payments<br>und|er non-cancegable<br>operating<br>leas|es as follows:||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2022|2021|2022|2021|
|||6|E|6|5|
|Not later than|1 year|35,190|11,491|35,190|11,491|
|Later than 1 year and not later than 5years||122,313|48,850|122313|48,850|
|Later than 5years||27,650||27,650||
|||185,153|50,341|185,153|80,341|





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