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2022-04-05-accounts

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED (a company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2022

(Company registration number 1293608)

(Charity number 272796)

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

Page
Report of the Governing Body 1 – 6
Independent auditor’s report 7 – 10
Consolidated Statement of Financial Activities 11
Consolidated and Charity Balance Sheet 12
Consolidated and Charity Statement of Cash Flows 13
Notes to the financial statements 14 – 30

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

The chairman has pleasure in presenting the thirty seventh annual report with the audited financial statements for the year ended 5 April 2022.

REFERENCE AND ADMINISTRATIVE INFORMATION Members of the Governing Body

The members of the Governing Body (who are also Trustees of the Charitable Company) who served during the year were:

The Hon Mrs E S Cunliffe-Lister V Arroyo (Retired 26 November 2021) S C Cunliffe-Lister Sir N Brooksbank Councillor C J Matthews O Cunliffe-Lister J Willoughby Georgie Pridden Oliver Hallam Tristan Haddow (Appointed 26 November 2021)

Secretary

S C Cunliffe-Lister

Registered office The Estate Office Burton Agnes Hall Driffield Y025 4NB Company number 1293608 Charity registered number 272796 Auditors TC Group 6 Queen Street Leeds LS1 2TW

Bankers

Solicitors

Investment Managers

Barclays Bank plc PO Box 206 Barclays House 10 Market Place Hull HU12 ORB Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG Ruffer LLP 80 Victoria Street London SW1E 5JL

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal and administrative details

Burton Agnes Hall Preservation Trust is a company limited by guarantee and is a registered charity. There are currently nine members of the Trust who guarantee £1 each. The Articles of Association contain no provision for retirement by rotation and all members of the Governing Body therefore continue in office. A full list of directors who have served during the year, all of whom are members of the Trust, can be found on page 1.

The Charity’s objectives

The general objective of the Trust is the advancement of historic and aesthetic education.

For the purpose of carrying out that general objective, the primary objectives of the Trust are in particular:

The Charity’s strategy to achieve the objectives

The strategies employed to achieve the Charity’s objectives are to promote and encourage access to and the study and appreciation of Burton Agnes Hall, its contents and surroundings by the general public, by looking for creative ways of attracting visitors to the Hall and gardens and ensuring that more children and young people are encouraged to visit through school visits and other targeted activities.

The main activities undertaken to achieve the objectives

The Trust’s main activities undertaken to achieve its objectives are:

Achievements in relation to objectives set

Visitor numbers

Regulations relating to the Covid-19 coronavirus restricted the visitor opening of Burton Agnes Hall and Gardens in 2022.

In the twelve months to 5th April 2022, the inside of the Hall remained closed to visitors until Monday 17[th] May 2021. There was no Car Rally. The Gardeners Fair on 19[th] and 20[th] June 2021, and the Jazz & Blues Festival on 9[th] , 10[th] and 11[th] July 2021 took place under the UK covid restrictions in place at the time. There was an Autumn Festival on 9[th] and 10[th] October 2021 and an Orchid Festival on 5[th] and 6[th] March 2022.

The gardens and grounds were open to visitors daily from Saturday 27[th] March until Sunday 31[st] October 2021. From Monday 17[th] May 2021 onwards the Hall was also open. These dates include an Easter themed opening from Saturday 27[th] March until Sunday 11[th] April 2021, and a Halloween opening from Saturday 23[rd] October until Sunday 31[st] October 2021.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

The Hall, gardens and grounds were open daily for a Christmas Opening from 14[th] November until 23[rd] December 2021.

The gardens and grounds were open daily for a Snowdrop Opening from Saturday 5[th] February until Sunday 6[th] March 2022. The Hall was open for the last two days (Saturday 5[th] and Sunday 6[th] March 2022) for the Orchid Festival.

Table 1: Visitor numbers

----- Start of picture text -----
1 [st] April Change Change 1 [st] April Average
2021 to from from 2020 to from
31 [st] March previous average 31 [st] March previous
2022 12 of 2021 5 years
months previous
(%) 5 years
(%)
Normal opening days April to October 44,991 108 16 21,670 24,439
Educational group visits n/a 1,089
Group visitors 919 n/a -4 956
Visitors on special event days 15,652 75 8,964
Christmas opening 6,366 21 7 5,251 5,927
Snowdrop opening 5,171 14 -7 4,540 5,549
Total 56,528 80 20 31,461 46,925
----- End of picture text -----*

*There were no special event days from 1[st] April 2020 to 31[st] March 2021, due to Covid-19 restrictions.

Concessions

The Trust granted concessionary access to the Hall in the following ways:

Maintenance, restoration and conservation work

Works of note

Painting & redecoration, and wood conservation and repairs £41,698
Building works done on Ha Ha Wall £ 9,529
Electrical work at gatehouse and potting shed £ 5,343
Total £56,570

How this relates to the accounts

Total incoming resources for 2021/22 have been £783,815 (2020/21: £612,344).

Income from charitable activities incorporating the Hall opening and associated retail, events and trading activities has risen to £649,928 (2020/21: £290,290), reflecting the impact of reopening after closures caused by the Covid-19 pandemic.

There was no income from the Jazz Festival in 2020/21 due to cancellation of the summer 2020 event. Jazz Festival ticket income in 2021/2022 totalled £52,933 of which expenditure incurred totalled £42,389, leaving a profit of £10,544.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

Income from donations, legacies and grants reduced from £195,979 to £40,231, the main reason being the cessation of the state support in the form of Coronavirus Job retention grants and other local support grants in the early stages of the 21/22 year. Government grants received in 2021/22 totalled £6,829 (2020/21 - £106,056) by the charity and £261 (2020/21 - £69,240) by the subsidiary.

Investment income remained relatively stable at £93,656 (2020/21: £91,075). The main source of income is rents from farmland and cottages of £84,112 (2020/21: £83,544) and income from investments in the form of dividends and treasury interest of £9,544 (2020/21: £7,531).

The net result of the year was enhanced by good results from the Charity’s investment portfolio and investment property land. Total income from gains and losses on investments was £54,759 (2020/21 - £364,201) of which £62,865 was from realised gains on the investment portfolio and forward contracts (2020/21 - £25,891, along with £161,229 from the sale of investment property land) there was however a small unrealised loss on the investment portfolio of £8,106 (2020/21 - £177,081 unrealised gain).

Costs of raising funds and opening and preserving the Hall and grounds have increased to £731,481 (2020/21: £547,613). Significant areas of cost are:

Recruitment and appointment of Trustees

The Trustees have professional and/or commercial backgrounds with a range of complementary skills that are appropriate for the activities of the Trust. In the event of a particular skill being lost due to retirement, individuals are approached to offer themselves for appointment as Trustees.

Trustee induction and training

Most Trustees are familiar with the practical work of the Trust prior to appointment. Additionally, new Trustees are invited and encouraged to meet with the senior management team and fellow Trustees to familiarise themselves with the work and structure of the Charity and obligations of the Trustees. New Trustees are provided with a copy of the memorandum and articles of association of the Charity, the Charity’s conflicts of interest policy, the Charity Commission’s guidance on becoming a Charity Trustee (CC3a – The Essential Trustee: An introduction) and the Charity Commission’s guidance “Charities and Public Benefit: Summary Guidance for Charity Trustees”.

Details of organisational structure and how decisions are made

Strategic decisions are taken by the Governing Body, advised by management, which meets formally at least twice a year. In the intervening period, individually or collectively, the Trustees will be involved in decision making and/or advising management as necessary.

Public Benefit

We confirm that we have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and planning future activities.

Risk management and investment policy

The Trustees have examined the major strategic, business and operational risks, which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks.

There are no restrictions on the Charity’s power to invest.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

Reserves policy

The Charity’s reserves policy is to ensure that sufficient unrestricted reserves are maintained to enable the Charity to continue in the event that there is an unpredicted and / or significant drop in income levels. The Trustees consider that the current level of general reserves meets the requirements of this policy. As at 5 April 2022, consolidated free reserves amounted to £560,777 (2021 - £392,971) after excluding amounts invested in fixed assets and the charity’s investment portfolio, as detailed in note 19. The investment portfolio is held to generate funds to support the charitable activities of the organisation.

Statement of Trustees’ Responsibilities

The Trustees (who form the Governing Body of Burton Agnes Hall Preservation Trust Limited and are also directors of the Charitable Company for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED REPORT OF THE GOVERNING BODY FOR THE YEAR ENDED 5 APRIL 2022

Auditors

TC Group has indicated its willingness to continue in office.

This report has been prepared in accordance with the provisions applicable to charitable companies entitled to the small companies exemption and the exemption from preparing a strategic report.

By order of the Board on the 24 November 2022

……………………………….

S C Cunliffe-Lister

Member of Governing Body

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF BURTON AGNES HALL PRESERVATION TRUST LIMITED FOR THE YEAR ENDED 5 APRIL 2022

Opinion

We have audited the financial statements of Burton Agnes Hall Preservation Trust (the ‘Parent Charitable Company’) and its subsidiaries (the ‘Group’) for the year ended 5 April 2022 which comprise the Consolidated Statement of Financial Activities (Including Income and Expenditure Account), the Consolidated and Charity Balance Sheets, the Consolidated and Charity Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. 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 group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the 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 group and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF BURTON AGNES HALL PRESERVATION TRUST LIMITED FOR THE YEAR ENDED 5 APRIL 2022

themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on Page 5, the Trustees (who are also the directors of the Charitable Company for the purposes of company law) 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 the trustees 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 Group’s and Parent Charitable Company’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 group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF BURTON AGNES HALL PRESERVATION TRUST LIMITED FOR THE YEAR ENDED 5 APRIL 2022

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.

Extent to which the audit was capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We designed and executed procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements. There are inherent limitations in the audit procedures performed not least due to the following:

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF BURTON AGNES HALL PRESERVATION TRUST LIMITED FOR THE YEAR ENDED 5 APRIL 2022

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its 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 charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

………………………………..

Steven Williams FCA (Senior Statutory Auditor) For and on behalf of TC Group, Statutory Auditor

6 Queen Street Leeds LS1 2TW

Date: 20/12/2022

10

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2022

Total
Unrestricted
Restricted

Note
£
£
Income and endowments from:
Donations and legacies
2
40,231
-
Charitable activities:
Educational
3
339,442
-
Other trading activities:
Income from retail, events and
catering
4
310,486
-
Investments
6
9,544
84,112
Total income and endowments
699,703
84,112
Expenditure on:
Raising funds
8
298,049
-
Charitable activities
Educational
8
320,611
-
Maintenance of Burton Agnes Hall
and surroundings
8
-
147,821


Total expenditure
618,660
147,821
Net income/(expenditure)
before movement on investments
81,043
(63,709)
Gains/(losses) on investments
54,759
-
Net income/(expenditure)
135,802
(63,709)
Net movement in funds
135,802
(63,709)
Reconciliation of funds:
Total funds brought forward
1,619,075
6,137,640
Total funds carried forward
1,754,877
6,073,931

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 14 to 30 form part of these financial statements

11

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED (Registered number: 1293608) CONSOLIDATED AND CHARITY BALANCE SHEET AS AT 5 APRIL 2022


Note
Fixed assets
Tangible assets
12
Investment properties
12
Investments
14

Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Net assets
Funds
Restricted funds
19
Unrestricted funds
Revaluation fund
19
General fund
19
Total funds


Group
2022
2021
£
£
914,559
935,429
5,515,900
5,515,900
995,667
1,006,801
7,426,126
7,458,130
40,742
51,639
81,970
107,787
441,455
288,855

564,167
448,281
(161,485)
(149,696)
402,682
298,585
7,828,808
7,756,715
7,828,808
7,756,715
6,073,931
6,137,640
178,513
186,619
1,576,364
1,432,456
7,828,808
7,756,715		 Charity
2022
2021
£
£
910,708
930,294
5,515,9005,515,900
1,005,6681,016,802
7,432,2777,462,996
20,933
21,988
110,515
132,670
394,062
288,855
525,511
443,513
(56,556)(53,329)
468,955
390,184
7,901,2317,853,180
7,901,2317,853,180
6,073,9316,137,640
178,513
186,619
1,648,7871,528,921
7,901,2317,853,180

The financial statements were approved and authorised for issue by the Board on 24 November 2022.

S C Cunliffe-Lister

……………………….

Oliver L H Hallam

……………………….

The notes on pages 14 to 30 form part of these financial statements

12

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

CONSOLIDATED AND CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2022


Note
Cash provided by operating activities
23
Cash flows from investing activities
Purchase of tangible fixed assets

Purchase of investments

Disposal of fixed assets (Proceeds)
Disposal of investments (Cost)
Cash used in investing activities

Increase/(decrease) in cash
and cash equivalents in the year
Cash and cash equivalents at the
beginning of the year
Total cash and cash equivalents
at the end of the year
 Group
2022
2021
£
£
149,971
62,311
-(579)
(306,249)(207,989)
-
195,329
308,878
191,917
2,629
178,678
152,601
240,992

288,855
47,863
441,454
288,855
 Charity
2022
2021
£
£
102,581
61,731
- -
(306,249)(207,989)
-
195,329
308,878
191,917
2,629179,257
105,210
240,992
288,855
47,863
394,065
288,855

The notes on pages 14 to 30 form part of these financial statements

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

1. Accounting policies

1.1 General information and basis of preparation

Burton Agnes Hall Preservation Trust Limited is a company limited by guarantee registered in the United Kingdom.

The nature of the Group’s and Charity’s operations and principal activities are set out in the Report of the Governing Body.

(a) Basis of preparation

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Charities SORP (FRS 102): the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.

The financial statements are prepared on the going concern basis under the historical cost convention, as modified by the inclusion of fixed asset investments at market value. The financial statements are prepared in sterling, which is the functional currency of the Charity, and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Group financial statements

These financial statements consolidate the results of the Charitable Company and its wholly – owned subsidiary, Burton Agnes Hall Trading Limited.

Under section 408 of the Companies Act 2006 the Charitable Company is exempt from the requirement to present its own income and expenditure account or statement of financial activities. The results of the Charitable Company’s subsidiary undertaking are summarised in note 4 to the financial statements.

1.3 Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Group is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Incoming resources represents income receivable in the period, comprising admissions, donations, retail sales and catering income along with other income arising from the charity’s principal activities. Income from commercial activities is recognised as it is earned.

Investment income and income tax recovered on gift aid donations is recognised on a receivable basis.

Donations and legacy income is recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

Income from the provision of charitable services and government and other grants is recognised at fair value when the Group has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

1.4 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

1.5 Support cost allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, insurance, light and heat and advertising, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 8.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Central heating equipment 10% per annum on cost Fixtures, fittings and café equipment 25% per annum reducing balance Motor vehicles 25% per annum on cost Car park 2% per annum on cost Playground Equipment 5% per annum on cost

Depreciation has not been charged on chattels, sculptures and paintings (except as above) as in the opinion of the Governing Body these assets are maintained in such a way that no diminution in value is expected to occur and any depreciation arising would be immaterial to the accounts. The car park is categorised within Freehold Property and Endowment Land.

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DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1.7 Investment Properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

1.8 Heritage assets

Heritage assets are defined as tangible property with historical, artistic, scientific, technological, geophysical or environmental qualities that is held and maintained principally for their contribution to knowledge and culture. The Trustees consider that the Burton Agnes Hall and certain other chattels, sculptures and paintings held for preservation to fall within this definition.

Heritage assets are recognised at cost or, where donated, at the estimated prevailing current market value at the time of donation. As permitted by SORP (FRS 102) the charity has chosen to subsequently account for heritage assets at historic cost subject to depreciation and impairment. The assets are depreciated to their estimated residual value over their estimated useful economic lives. Where the asset is deemed to have an indefinite economic life, the asset is not depreciated but is reviewed for impairment annually.

Certain heritage assets, including the hall itself and other chattels, artwork and sculptures that were donated to the charity several years ago, do not have a carrying value in the financial statements. The trustees consider that the cost of obtaining a valuation of these donated assets at the time of donation is not justified by the limited benefit arising.

Depreciation rates are given in note 1.6 above.

Expenditure that, in the Charity’s view, is required to preserve or prevent further deterioration of the asset is recognised in the Statement of Financial Activities as it is incurred.

1.9 Investments

Fixed asset investments are shown in the balance sheet at market value. Realised profit or losses on sales of investments and the difference between cost and market value of investments are shown on the statement of financial activities for the year.

1.10 Stocks

Stocks are valued at the lower of cost or net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

16

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1.13 Creditors and provisions

Creditors and provisions are recognised when the Group has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.14 Financial Instruments

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

1.15 Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to Statement of Financial Activities.

1.16 Restricted funds

The funds which the Board consider to be restricted are not governed by separate Trust deeds or agreements. The uses to which the funds are put, however, conform to the spirit of the definition of a restricted fund.

1.17 Endowment Property Fund

Any endowment property accepted by the Trust and exempted from Capital Transfer Tax shall be applied solely to the upkeep of Burton Agnes Hall, the land used as the grounds of Burton Agnes Hall and any object ordinarily kept in Burton Agnes Hall.

1.18 Going Concern

The Trustees have considered the going concern basis of preparation of the financial statements.

Details on the results for 2021/22 are given in the Report of the Governing Body. Visitor numbers, related admissions income and sales have continued to be strong since the year end.

The organisation benefits from the existence of reserves invested for the long term to provide financial security and sustainability. The Trustees have authorised use of a proportion of these reserves to support the charity’s finances, if required.

Having considered current activity levels and long term reserves, the Trustees have concluded that no material uncertainty in relation to going concern exists and have prepared the financial statements on a going concern basis.

17

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

1.19 Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets (excluding investment properties) is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.

They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The carrying value of tangible fixed assets is £914,559 (2021: £935,429) and the useful economic life of each category of fixed asset is set out in the accounting policies under section 1.6 above.

Investment properties

The carrying value of investment properties, which are required to be held at market value, are subject to significant estimation uncertainty since they are based on an assessment of current agricultural and property values. Note 12 sets out the assumptions used in valuing investment properties, and the year-end carrying value.

2. Donations and legacies

Gifts and donations receivable
Grants (HMRC & Local Council)		 2022
£
33,141
7,090
40,231		 2021
£
20,684
175,295
195,979

All income from donations and gifts in both reporting periods was attributable to unrestricted reserves.

18

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

3. Income from charitable activities

Educational:
Hall admissions
Guide book sales		 2022
£
337,697
1,745
339,442		 2021
£
157,987
133
158,120

All income from charitable activities in both reporting periods was attributable to unrestricted reserves.

4. Results from retail, events and catering

The income generated by Burton Agnes Hall Trading Limited from retail activities, staging events and catering is shown below, along with the relevant costs and the associated profit for the year. It is the intention of the Directors that any profits realised by the Company will be paid to the Charitable Company by way of Gift Aid.

Shop, garden and café sales
Jazz and blues festival income
Income
Management charge received
Less: purchases, wages and festival costs
Gross profit/(loss)
Other operating income (Incl grants)
Administrative expenses
Operating profit
Interest payable and similar charges
Profit for the year in Burton Agnes Hall Trading Limited
Assets and liabilities:
Fixed assets
Current assets
Current liabilities
Shareholders’ funds (deficit)
(62,424

19

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

5. Results of the Parent Charitable Company

Burton Agnes Hall Preservation Trust Limited made a net loss for the year of £6,706 (2021: Profit of £23,121) before gain/loss on investments.

6. Investment income

Restricted funds:
Rent receivable
Unrestricted funds:
Dividends received
Treasury interest received
Bank deposit interest

7.
Costs of retail, events and catering
Total expenses incurred as per note 4
Less: Eliminated on consolidation
Total costs for purchases, wages, festival costs and overheads		 2022
£
84,112
8,688
856
-
9,544
93,656
2022
£
321,707
(68,803)
252,904
 2021
£
83,544
6,350
1,181
-
7,531
91,075
2021
£
229,800
(59,075)
170,725

20

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

8. Analysis of expenditure

Raising funds:

Raising funds:
Costs of trading
Fund manager charges		 Staff
costs
£
Other
costs
£
Total
2022
£
Total
2021
£
126,775
161,129
287,904
170,725
-
10,145
10,145
8,352
126,775
171,274
298,049
179,077

All expenditure on raising funds in both reporting periods was attributable to unrestricted reserves.

Charitable activities:

Educational
Maintenance of Burton Agnes
Hall and surroundings		 Direct costs
Staff
costs
£
Other
costs
£
Support
costs
£
Total
2022
£
Total
2021
£
157,158
40,463
122,991
320,612
263,183
-
111,373
36,447
147,820
105,353
157,158
151,836
159,438
468,432
368,536

Expenditure on charitable activities was £468,432 (2021: £368,536) of which £147,820 (2021: £105,353) was attributable to restricted funds and £320,612 (2021: £263,183) was attributed to unrestricted funds.

Support costs allocated to charitable activities

Insurance
Light and heat
Advertising
Governance costs
Rates
Motor expenses
Depreciation
Telephone and postage
Bank charges and interest
Cleaning costs
Waste removal
Subscriptions
Other indirect costs
Total support costs		 Staff
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Other
costs
£
36,447
33,914
9,445
23,349
8,148
25
19,585
750
11,337
3,034
7,693
2,940
2,771
159,438		 Total
2022
£
36,447
33,914
9,445
23,349
8,148
25
19,585
750
11,337
3,034
7,693
2,940
2,771
159,438		 Total
2021
£
36,220
21,419
10,376
19,458
7,425
-
20,712
657
5,860
2,156
4,618
2,523
1,026
132,450

21

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

9. Net income/(expenditure) for the year

This is stated after charging:

Auditors’ remuneration:
Audit Fee
Accountancy, taxation and other services
Depreciation		 2022
2021
£
£
6,075
5,875
6,075
5,875
20,869
22,423

10. Trustees’ and key management personnel remuneration and expenses

The Trustees neither received nor waived any remuneration during the year (2021: £Nil). The total amount of employee benefits received by Key Management Personnel is £Nil (2021: £Nil). The Trustees did not have any expenses reimbursed during the year (2021: £Nil)

11. Staff costs

Wages and salaries
Pension costs
Social security costs		 2022
£
268,524
3,651
11,758

283,933		 2021
£
285,421
3,220
10,404
299,045

No employee received remuneration of more than more than £60,000 (2021: Nil).

The average monthly number of employees during the year was as follows:

2022 2021
Number Number
Burton Agnes Hall opening and retail shops 24 27
Gardens and maintenance 3
27		 4
31

22

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

12.
Tangible fixed assets and investment properties
Group
Freehold
Heritage
Plant,
Property
assets
Equipment
and
& fixtures
Endowment
Land
£
£
£
Cost or valuation
At 6 April 2021
423,254
408,364
258,375
Additions
-
-
-
Disposals
-
-
-
At 5 April 2022
423,254
408,364
258,375
Depreciation
At 6 April 2021
41,330
2,184
249,620
Charge for the year
8,266
-
4,905
Eliminated on
disposal
-
-
-
At 5 April 2022
49,596
2,184
254,524
Net book value
At 5 April 2022
373,658
406,180
3,851
At 5 April 2021
381,924
406,180
8,756
Charity
Freehold
Heritage
Plant,
Property
assets
Equipment
and
& fixtures
Endowment
Land
£
£
£
Cost or valuation
At 6 April 2021
423,254
408,364
186,753
Additions
-
-
-
Disposals
-
-
-
At 5 April 2022
423,254
408,364
186,753
Depreciation
At 6 April 2021
41,330
2,184
183,132
Charge for the year
8,266
-
3,621
Eliminated on
disposal
-
-
-
At 5 April 2022
49,596
2,184
186,753
Net book value
At 5 April 2022
373,658
406,180
(0)
At 5 April 2021
381,924
406,180
3,621		 Playground
Equipment
£
153,965
-
-
153,965
15,396
7,698
-
23,094
130,871
138,569
Playground
Equipment
£
153,965
-
-
153,965
15,396
7,698
-
23,094
130,871
138,569		 Total
£
1,243,958
-
-
1,243,958
308,530
20,869
-
329,398
914,559
935,429
Total
£
1,172,335
-
-
1,172,335
242,042
19,585
-
261,627
910,708
930,294

23

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

12. Tangible fixed assets (continued)

Investment properties

Revaluation as at 6[th] April 2021 5,515,900 Movement - Revaluation as at 5[th] April 2022 5,515,900

Investment properties principally comprise tenanted farmland from which the charity earns rental income, as well as a small number of residential properties.

The Directors’ estimate of the fair value of the investment properties is £5,515,900 (2021: £5,515,900). Tenanted farmland has been valued using estimates of current values per acre. Residential properties have been valued using an estimate of the resale value of similar local properties, where available. Factors impacting the estimate of fair value include macro-economic factors relating to farming, local and regional variances and changes in residential house prices.

In the opinion of the Directors, the estimate of fair value is reasonable, and no professional valuation has been commissioned.

The investment properties are categorised as endowed restricted funds, forming part of the original estate lands that were donated to the charity.

13. Heritage Assets

Heritage assets presented in note 12 comprise:

The Burton Agnes Hall (‘’the Hall’’): The Hall has no carrying value in the financial statements reflecting the estimated nil value of the properties donated to the charity at the date of donation. The Hall and certain other associated buildings within the grounds of the Hall, some of which are categorised within fixed assets as freehold properties, have a current combined insured replacement cost value of approximately £35m.

Various chattels, sculptures and paintings owned by the Charity and displayed within the Hall: These assets have been acquired by the Charity over a period of almost 30 years and have a current carrying value in the financial statements of £406,180. These assets were originally recognised in the Charity’s financial statements at cost or, where donated, at estimated market value at the date of donation. Subsequently the assets have been accounted for using a historic cost method subject to depreciation and impairment. In the view of the Trustees all chattels, sculptures and paintings are carefully maintained and have an indefinite useful economic life and accordingly no depreciation has been applied in the current year. This basis is reviewed annually by the Trustees as part of an annual impairment review.

Further details regarding the accounting treatment of heritage assets are provided in the accounting policies.

Five year summary

There have been no material movements recorded in heritage asset categories within the past five years.

24

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

14. Fixed asset investments

Group
Listed investments at market value
At 6 April 2021
Additions
Disposals
Revaluation
Balance at 5 April 2022
Historical cost at 5 April 2022		 Managed
Equities
Funds
£
£
359,592
561,012
119,058
56,194
(182,074)
(85,476)
(2,936)
5,373
293,640
537,103
227,421
439,695		 Gilts
£
86,197
130,997
(41,328)
(10,941)
164,924
153,762		 2022
2021
£
£
1,006,801
813,648
306,249
207,989
(308,878)(191,917)

(8,504)177,081
995,6671,006,801
820,878823,507

All investments are held for charitable purposes. At 5 April 2022 cash deposits held by the investment manager totalled £64,208 (2021: £9,016) and are included within cash held on deposit in the balance sheet.

Included in the above portfolio the following investments comprise 5% or more of the portfolio’s market value at 5 April 2022.

Ruffer Iiquid Multi Strategies Fund 2015 Limited
Ruffer SICAV Fixed Income Z GBP Distribution
LF Ruffer Gold C Acc
1.25% Treasury Index-Linked 2068
Charity
Listed investments at market value
Investment in subsidiary company at cost

The company owns 100% of the shares in Burton Agnes Hall Trading Limited (company number: 6633139), a company incorporated in the United Kingdom.

The principal activity of this entity is the retail sale of gifts, plants and farm produce, the operation of a café and the staging of a jazz and blues festival. The results are summarised in note 4 to the financial statements.

25

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

15. Stocks

Guide books
Goods for resale		 Group
2022
2021
£
£
11,933
12,988
28,80938,651
40,742
51,639		 Charity
2022
2021
£
£
11,933
12,988
9,000
9,000
20,933
21,988

The amount of stock recognised as an expense in the period is £91,979 (2021: £58,870).

16. Debtors

Trade debtors
Amount owed by subsidiary company
Prepayments and accrued income
Other debtors

 Group
2022
2021
£
£
47,045
67,481
-
-
34,097
36,923
8283,383

81,970107,787		 Charity
2022
2021
£
£
47,045
67,481
29,443
33,052
33,199
28,922
8283,215
110,515
132,670

The charity charges interest on loans to the subsidiary company.

17. Creditors: amounts falling due within one year

Bank loans and overdrafts
Trade creditors
Taxation and social security
Amounts owed to related undertakings (note 22)
Accruals and deferred income		 Group
2022
2021
£
£
-
227
21,374
21,895
113
(304)
75,000
75,000
64,998
52,878

161,485149,696		 Charity
2022
2021
£
£
-
-
17,002
19,192
-
(317)
-
-
39,554
34,454
56,556
53,329

26

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

18. Deferred income

Deferred income within the Charity comprises of annual Hall and Gardens membership, which is received up front. Within the trading company the deferred income relates to grant and ticket income received in advance.

Balance as at 6 April 2021
Amount released to other trading activities
Amount released to charitable activities
Amount deferred in the year
Balance as at 5 April 2022		 Group
£
25,172
(15,172)
(10,000)
39,789
39,789		 Charity
£
10,000
-
(10,000)
18,519
18,519

Balance as at 5 April 2022

19. Statement of Group Funds

At Net At
6 April (loss) gain 5 April
2021 Income Expenditure on Investments
2022
£ £ £ £ £
General reserve 1,432,456 664,703 (583,660) 62,865 1,576,364
Revaluation fund 186,619 - - (8,106) 178,513
Total unrestricted funds 1,619,075 664,703 (583,660) 54,759 1,754,877
Restricted fund 6,137,640 84,112 (147,821) -
 6,073,931
Total funds 7,756,715 748,815 (731,481) 54,759 7,828,808
Analysis of group net assets between funds
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fund balances at 5 April 2022 are represented by:
Tangible fixed assets and investment properties 498,433 5,932,026 6,430,459
Investments 695,667 300,000 995,667
Net current assets 560,777 (158,095) 402,682
Total net assets 1,754,877 6,073,931 7,828,808

27

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

19 . Statement of Group Funds (Continued)

Statement of Charity Funds

At Net At
6 April (loss) gain 5 April
2021 Income Expenditure on Investments
2022
£ £ £ £ £
General reserve 1,528,921 506,870 (449,869) 62,865 1,648,787
Revaluation fund 186,619 - - (8,106) 178,513
Total unrestricted funds 1,715,540 506,870 (449,869) 54,759 1,827,300
Restricted fund 6,137,640 84,112 (147,821) -
 6,073,931
Total funds 7,853,180 590,982 (597,690) 54,759 7,901,231
Analysis of Charity net assets between funds
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fund balances at 5 April 2022 are represented by:
Tangible fixed assets and investment properties 494,582 5,932,026 6,426,608
Investments 705,668 300,000 1,005,668
Net current assets 627,050 (158,095) 468,955
Total net assets 1,827,300 6,073,931 7,901,231

Purpose of restricted funds

The fund represents endowed trust property and the balance of unexpended income generated by that property.

Revaluation fund

The revaluation fund is required by the Companies Act 2006 and SORP FRS 102 and represents the amount by which investments exceed their historic cost.

20. Members guarantee

The company is limited by a guarantee not exceeding £1 per member. The number of members as at 5 April 2022 was 9 and the total of such guarantees amounted to £9.

21. Taxation

The company is a registered charity and is not liable to United Kingdom income tax or corporation tax on charitable activities.

28

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

22. Transactions with Trustees and connected persons

Mr S C Cunliffe-Lister and Mrs O C Cunliffe-Lister are directors of The Burton Agnes Stud Company Limited. Included in creditors falling due within one year (Note 17) is £75,000 (2021: £75,000) owed to the Stud Company. These amounts were all recorded at cost, and a debtor for £75,000 are recorded in the financial statements of the Stud Company.

During the year the charity received rental income from The Burton Agnes Stud Company Limited of £10,824 (2021: £10,824).

23. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation charge
Less Profit on disposal
Decrease/(Increase) in stock
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Unrealised loss/(gain) on forward contracts
Unrealised loss/(gain) on investments
Net cash provided by operating activities
 Group
2022
2021
£
£
72,093393,934
20,869
22,423
- (161,229)
10,897
11,281
25,817
(27,619)
11,789
602
399
-
8,106(177,081)
149,97062,311		 Charity
2022
2021
£
£
48,053
387,322
19,585
20,712
-(161,229)
1,055
546
22,155
(15,914)
3,227
7,375
399-
8,106(177,081)
102,58061,731

29

DocuSign Envelope ID: 54CED85D-0962-4418-B4CD-495327D57C00

BURTON AGNES HALL PRESERVATION TRUST LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

24. Financial Instruments

Group Charity 2022 2021 2022 2021 £ £ £ £

Financial Assets

Measured at fair value through net income/(expenditure):

Investments (note 14) 995,667 1,006,801 1,006,801 1,006,801 995,667 1,006,801 1,006,801 1,006,801

Items of income, expense, gains and losses

Group

The total income from investments held at fair value amounted to £9,544 (2021: £7,531). In addition there was a net gain of £54,759 (2021: £364,201) recognised in other gains and losses in respect of the investments held at fair value.

Charity

The total interest income for debt instruments not measured at fair value through net income/(expenditure) is £1,540 (2021: £1,540). The total income from investments held at fair value amounted to £79,544 (2021: £7,531). In addition there was a net gain of £54,759 (2021: £364,201) recognised in other gains and losses in respect of the investments held at fair value.

30