REGISTERED cOmPAV NUMBER- 01392448 IEnEl4nd Wale5) REGISTERED CHARITY NUMBBR: 276673 REPORT OFTHE DIRECfOR AN ATEMENT YE FnK Martin und Compgny Audit Limited Chartered Ac¢ourttants and Statutory Auditors 25 St Thomas street Win¢h¢ster Hampshire S023 911J
P4 E FINAN IAL ME Ps£e Report of the DirectorB Report of the Iiidependeni Auditor¥ StAternent of FinAneiAI A¢tivitl¢9 10 B414nte Sheet C.'ash Flow Stitement 12 Notes to tht Cash Flow St4t¢mElIt 13 Notes tD ¢hc FinanciAI Statetn£nts 14 to 21
AMP ED RE VOR T OFTHE DIR y& D 31 DECEMBER2023 The Directors who are also Iruslev5 ofihe Charity lor the purposes of Ihe Charitie5 Act 2011. present their rtport with th fsnancial stgtemenis of the Lharity for thc year endcd 31 De¢emb¢r ?.n23. The Directors have adopted th¢ provisions of Accounlinb and Riporting by Charities.. Stol¢JtL¢nt of Rccommended Practice appliGabl¢ lo ¢haritles prcparing their accounis in a¢cordance witli The financial Keportingp Standard applicab12 in the UK and Republic uf Ireland IFRS 102} (eff¢cliv¢ l January 20L9}. KEFERENCV, ANDADMI INISTIL4TIVE DETAILS RtlLStered C(pJnp4ny nuniber n1392448 {F.nglaiid and W&lesl Registered ChArltv number 276673 Registered Olet Tlie Estaie affict Pfjrhllm PNrk Pulbnrough West Susscx RH2Q 4HS Trustees Lady E L Barnwd Writer C J SchDoling Surveyor R T Long5taffe-Gowan Gard¢ns Adviscr T AJKn(Ix MusoDm DireLILir Mr%AbMBe5t HR Consultant Mrs N T Eagle Retired Trust Accouniant J E"r c.UOPEr Chart¥r¢d Surv¢yor J E T Cooper was appDinted as a direcror on 5rk Iune 2023. Cofflp*ny Secretary Currcy & Co LLP 33 Queen A]ine SITeet London WIG 911Y Auditors Martill artd Company Audit l.imited C:han¢red A¢counianis and Statutory Auditors 25 St Thorna% Street Winchester Hampshire S023 9HJ Bankers Natwest Bank pl 'orthing, South %tre¢t {BI Branch 27, Soulh Slr¢¢t Wo>rthing Wesi Sussex BNII 3AR Page I
THE DIREcr THE YEAR ENDED "I"RUCTURE. G()VERYANC.L AP4D .MA)AGE.MLNT Governin% ducument Tlie Chariry i¥a.4 iiicorpordted on 4 OLlob¢r 197S and was regisiered with th¢ Charity Commissioners undcr Charity Numbcr 276671. It 15 roiiimlled by 115 Mcmorandum aiid Article.4 Trf Associaiion 74liich constiluies it ds d liiiiiled company. limited b}. guaraiitee. a8 dlfined by Coinpanies Act 2006. The man2gemEnt of thc Charjty 18 ve81cd in thc Directors, of which There arc Lurrcntly s¢ven. Reeruitmcnt and appointnient lif DireLlur$ The Directors l)ave found Ir bencfiLial for futUTC plannii)g Ilihcy Ttview their plan4 geo¢rally when ihey rcach the a¥L Df 70 year5 ai)d aiilonialirally retire at the age uf 75 years, unl¢ss specifically requested io continue. New directors can be appoiiited, hy the Majority vote of tht txi.%ting Dirc¢tors. Indt]tti*n trsining of new Dir¢¢tors The poli¢y of rhe Directors 15 IL> cnsure thai directors with spcciali5t knowlcdge arc available to cav¢r all arcas of the The Directors have hiih¢rtv been fortunate io hae been abl¢ lo appoint dircctors with extensive exi51ing expciience who liawe not required aiiy addiliundl tTainiii¥. Ml¢re tliey lo appoinl a direLlor who Ihey ronsid¢red wDuld benefit from Iraiiiing in a particular are arTangeni¢nts ivould bc made fi)r such training In be provided. Ilisiorically, dirccivr5 have been faniiliar wilh the aciivi¢i¢s of Ihe Charitj befvr¢ appointment, but in Ihe eveni Ihat there cxisted aspects willi wliich they les.E tarniliar. lh¢ Q"hairmaii and any other relevant Direblors would discu55 these detail with th¢m in order 10 bring thein up 10 8 ptoper understanding of Ihc natUTC aiid ()rking5 01 rhe Charity. OrEani5ational structure I'he FJirecli)rs aim to liavc amongst thcir nuinber individuals with a divcrsiiy of skills and profe551nnalism that etiabl¢s Iheni io fulfil thELr obliktatiojjs lo tliE Chariiy and add value by assuming responsibilities commensurate witl) their ¢xpcrtis¢. RtlRted p#rtie The fr¢chvld property of Parham Pdrk belongs to the Parhdm Park Tru51 {19841, a Lharitabi¢ %ertlemL'nl Ihvreinafier call¢d 'pp'r ) and is l¢A%ed to the Charity, piirsuani lo a 99 ycar Ic35¢ which was rx¢but¢d on 1611) July 2013 The Charity is financially d¢pcndeni on r¢ceii'in¥ gjrants frotn PPT which was sel up lo provide adequat¢ 35Sl5taDc¢ to th¢ Cliarit). lo vndble it tL) 17)4iiaBe its a¢iiwilie& in accordance wirli it5 Stal¢d vbje¢tiv¢s rcgi5rered wirh tlje Charity C.uTrimi$8ian. l)uring 2023 such grant.s r¢c¢ived t<)tallcd £550,00012022.. £450.0001. Risk mAnA¥em¢nt .1 lie Directors havc Intibduced a formal risk managcTn¢nl process to aS5¢ss major risks and iinplenient ri4k managem¢ni slraiL¥ies. This Invol¢S identify.ing the t))ajor types ot. risks the Lharity faces, priorilising them in ierixs of pol¢ntial impact #nd likelihood of O¢CLirrenG¢, and idcntifying means of rnitigatijig the risks. K¢y MinAgemtnt Reinuner9tion Polity The salarics uf the Scnior Mana¥L'mEiil l earn are set by ilie dir¢ctors based on bLn¥hinarking against similar roles in esiales of a siniilar nature dnd sizc, some of which are a150 cliaritle5. Pagt 2
PARHAM P K LIMITE REPORT OFTHE DIRECTORS NDED EM ER 21123 OBJFC:TIVES AND ACTivrriF.S ObjectiYe$ and #ims The priiicipal obJectiv¢s af Ihe Charity are lo ni?cn Parliam lo Ilie public and to ijiaiiilaii) Ihe hislvriL Elilabethan house, irs cuiiltiiit5 and ils surrounijiiig pai'kland. woodlands aiid fannland amnunt1ng lo approxiinately l)Qll a¢res. Allcillary lo the niain aciivilics of the r.liarity. other Brtivilie5 are ulldertaken. l.ight IiinLh¥s dttd 1¢85 are Served froim th¢ MowLr Shcd and, fnr larg¢ ¥TnUPS, frtsm the Big Kitchen in thtt House 'l'herc Js a Hoiist Shop and a Gardcn Shop Eient5 and eduLalii)n21 courses arc organised, apprnpriaic for this environmeiit. .411 of lh¢ afureni¢ntioncd cxist 10 5UPPQrt thc Inain aLlilty uf Ihe Cliarity and fur no other purpose. The Charity dims 10 mcet the runiiing c05t of these nbjectiveb (rutn operating revenue, grants and Lovcnanled inc()me. T1iere arc curreiiily qcvcn Dir¢Ltors wkn In¢ei twice a year in Jun¥ and Deeembtr (and additionall> as appropriatel in ord¢r lo rcvicw the s'.rateg>' and perfomi8ncc r)I"Ilic Charity and ils Dperations and to stt opvrdlinb plgns and budgets. Thc Charity's operaljons are reAtricied lo the furtherance of its charltable objectives, and govemed by its Meinorandum and Articles of Association. 'T-he Dir¢ctor5 may borrow moiiej fur the charilable obj¢ctive5 of the Chai'ity. It can purchase, lea.ie, exchange c>r oiher¥vi5e acquire aii>' real or pcrs()nal property. It cali cnnslnici, crccl, niaiiitaiji and fur1115h aiiy I(1 or biii1diiix& vr oili¢i' ereciittns nec¢5sar)' or Lunveni¢nl for th¢ Lharilable work of Ilie Charity. It may a150 .4ell, cxchAnge Dr let laiid and buildings hclonbring lo the Charity. [lublic beneflt The Directnrs contirm iliat they have paid du¢ regard lu Setlian 4 ofthc Chdrilie¥ Act 2011 and the Charity Coinmi$si()n' guidaiice Dii public beiiefii in decidiiig what actiN'ilies tlic C'.hBrity shuuld undertake. I'he following summary deinJnstrates the bencfii lo the wider public froin Ilie Charjty's activitie5. Parliani Park aiid il4 ¥rounds are vpcii to thc &Teneral public by IhE C.Iiari¢w from Easter lo October LaLh yL'ar. Tlie iJi%ianding }'- IiT.ab¢thaii Iluiise11.islcd Grad¥ l) dates from 1577 and in¥ludes d InagniticLni Grvat Hall aiid spe¢la¢ular Long Gall¢ry. Thc houbc has beLn Dpcn to vi.%itors sinL¢ 1943. Thv conten1.£ include mdny portraits. Ircms of furniiurL' and a needlewurk ct>lleclion of national importanc¢. There ai¢ I l acres of IVall¢d GardLn and Pled5ure (irounds. 11 Is clcarly lor the ben¢fJl vi Ilie w'id¢r public Iv prc5erve Iliis historic property and ils 5urroiinding landscape, and to cncoura8¢ puhli¢ admission io Il for th¥ purposes •t' appreciation and rducalioii. In his accldinied b(H)k 'EJiglaiid's ThUand Bcsi House5 Simon JLnkin.E. fornier Q hairTnan of Ilie National Tru51, gavL Parljam a"5 5tat' ratingand Lonsidered it to be oIie of Ilie top twenty liouscs in th¢ rvuiitry. Hc wroie 'NoihiiiB at Pdrlidm is 8uperfluous, rnthing unlov¢d. It is • housc of magiL. ACHIEVkMENT AND PERFORMANC.Tr, Charit8bl¢ activitle Tlii5 ycar. Parhdni was open to tiic public for & total of I ny days inLludin¥ exclusive day between the mortihs of April and Oiiober. 'I'his ci)mpdf¢5 with 103 days in 2022. Parham rLccived a total of 21,654 visitors Lompaied willi 18,4AO iii 2022 which r¢prescJit% an increase Ot. 17P/o. Pag¢ 3
ARK LIMITE REPORTOFTHE DIRECTORS FOR THL YLAR FNDLD 31 DECE BER202J In addition lo thu norinal open dAys (Wcdii¢sday5, Thur5Jays, Friddys, Sundayb and Bank Holidays), Parham organised 5¢v¢ral sp¢cial ev£nls 2nd &ctivitl¢5'.- Thcsc in¢luded.. Horsliani School of Boranical Art P.xhihirion A Iliyec wo¢k cxliibilioti t¢aturinx wi)rk5 by niemhers nf tlie Hcirsham Scliool of BoialliLdl Art froni Suiiday 71h M&}, to SuTiday 2141 May. Butaiiical Art Workshop- A one da>, worksliop l¢d by botanical a1115t Leigh Ann CT&le oli Wednesda} 24, May. Jeiiny Adiii Lhristic Nlcedlewuik CDurs¢ A one week ¢ovrs¢ l¢d by RSN, tutor Jenny Adin Christie from Wednesday 7., Junc to Sunday I I, Junc. Sussex Day Fair- A .gniall crafl fair licld oil tlie county day and celebraling Ilie produLe, art, aiid ttrt151ry of Sussex- based desigiiers and n)ak¢rs on Frida), 161IL June Gardvii .Museurn Lilerary Fesiival - Pr¢51igious bieiinial celebrulion of gardeiis and gardening organi5ed hy the Gardcii Mu4eurn Df Li)ndon atsd hosied ol) ihi5 OCCdSlUll at Parhani House on the 23, and 241h Jun¢. %tudeiils un thL Attingham Trust Sunim¢r SLliool for th¢ study of historic houscs ynd yardcns and their ¢glle¢t10115 I'isiicd 011 Sunday 2" Jiily. Sussex Steain Rally Two day Iradiiinnal stcam.ghnw organiscd by Siisscx Steatn Sliows Ltd and licld oil Ihr East Plain ai Parham un Saturday 8, èlid Suiida). 9th July. Jaguar r.iithusiasts c.lub Rally-'I'he inlttr-TeLiional m¢¢ling of tlie JaguarEnrhu&id%ls Club f¢aturiiig over 300 classi¢ and cnnleiiiporary Jaguar8 artayeil in fr()nt DfI'arliaill House oti Siinday 6, Au¥u51. Assuciation of Sus5cx Ariisis Exhibitioji A twu week exliibition fuaiuriii¥ work5 by m¥tnheis of tlie As50cialion c)fs1155ex Arti&ls froin Mlednesday 13'h.%eptemh¢r to Sunday 24, .%cpieniher. Autumn I,-lowers al Parhxm Additional elahorate fre%li and dricd flower aYrJngernenls on shDw within Ilit Hnu5C all 11sing flowers diid grassus Lul fram th¢ Gardegis ai Parham #nd arraii&cd by Purhdm'5 On Flower T¢am fmm Wrdnc5da}' 27, SEPtcinher 10 SuiTrday 8 Ocii)b¢i'. .XLIu5ii'e Visit froikn NeedlEwork Tuurs A visit from l QO plus dLILgJtes 311¢ndiii& IliL Tiileriiaiioiidl l%eedlei¥ork C.r>iivuiiiioii in Londoii alicl visiling lo sec thc tine needlework aiid embroidLry for whiGlI Parhain House is fdlllOUS 011 Monday 9, 0¢ber. The Charity is grateful luy the unslinling effort5 of all its slaft, both perinanent and seasonal, and volunteers who are involvcd in the op¢r#ling activities. I'lie following arc just sonie n( tlic many comments of appreciation made by visilvrs during 21): 'Wé lovv ihi.F .speLiacular h0115¢. 11'e are mL'mher.s noiv amd li is uiir Jljvnrlle i)114ce lo ¥0. 7lie 11e i.F ,yo honielJJ uiidfvll f hisrory Only op¥7 Ijn Wcdne.Fd¢JJ,. fiiiirsUuy.F, d5.ndj biit well worth a ViSTt 'Jliinning dcep'pai'k loLrJlifJn ufty imi)re.%&ivg 450 7iiUr)r huuJL' wilh ttTL7My iP71er&&litTg arie[ac'ls ijnd pliinlinxs. Jlieye helpful knoH.ledgvuble Yn¢3PJi giiid¢.¥ Ilij-ijuxhoiil the hnt4.¥e A very ('ivjlj.%edplace ¢0 .vpend after400. .S'ince Ihe fluTI.I'l' i.F opeK nF71yfo a fem, hDiir.i oA.fuzir L?(lernnnMs u week ih¢y ¢¢7n allow naliii.tsl light iPlÉn (he Yfjrtms wilhij{ fcar of dafftaging ihc pllr4riMx.s froin Cjvgr gxp(Jsiire. 71ie i'8.5uII i.s li ffluLh less Klui)rpJy iha nL'ighbnL4rlX Pelworih Parham ul.%a a Ir)1 less cluifervd. morepei'.FOrtnl IVe,%penl three IToiir.I IherE couldhovL .F£t long¥r. evL'n thn811 IliL' IIIiu.se isn'l ull Ihul Idr¥e (.,,). Do go IheRe. Tliis iva[ a lovc'lyp1¢7ce 10.Ip¥d clfem, hoiirs vi.¥ilip7g The llre E.YÉenJiv6' Miih UAlI.*uuI Jnaze Id briL'UJione biiili Ivgiidy Ihar we could Jt431fil ii1.Fide llie lurgg walled h(u sume hEoilIfvl Jlijwej'y (...} Th¥ hnu.re riKie.ned ut 2p1# we .Fnenl ah enjoyublL' or two ihLPie leai"lliPTg oh0141 ils kisiory d how li w(7.$ re.FioYed {...} Ili¥ church i.v ul,%r) wurih LT Vi.Tll," il i& a wolkfrom Ihe ht>¥. Page 4
PAR REPORT O R TH IIF, DIREcro EA b'INANC.'IAI, Rb.VlTr:W FiNsnciAI &ttSvitiu results Opeialiiig inconie op¢iiin¥ Parham Park 10 the public and related activities tolalled £547,581 12022.. £320,694) shown in notc 4 of these account5. Lxpcnditiire r¢lalin¥ lu the op¢Jii118 and the InaintenanLe of the property lotalled £971,003 (2022.. £780.8911 as shown in not¢ 6 of Ihesc accouiiis. Support cosrs of the Charity lotallcd £290,735 12022.. £2X9,9XI} as shown in note 7 of Iliese accounts. There was IhercforB op¢rating dcficit on opening and maintaining the property of £714,15712022.. £750,178). NDtI-OPLfdtin¥ incom¢ iiicluding doIidliuns. rentrdl inLom¢, bank inlcrLsi and a grant from PPT tt)tsllf d £903.163 for the yettr, of which £564,258 vnluntary income 12022.. £793,63¥ of which £4fF9.709 was volujiiary income). Invesltment manag¢rneni ¢ests fvr tli¢ y¢ar totalled £86,010 {2022.. £72,D9111. The surplus for the year was £102,51612022.. d¢fiGit of 129,230} on urtrc5trict¢d gcner41 fuiid5. Reservr¥ policy As ilie costs of mainlaiiiing, iJnprovinE and opening Parliam to Iht public each year exceed5 the incoine r¢source5 of Ihc Charity. an granr 15 sou¥hi froni PPT. The Ch8rily's reserves al the end <>f the year ainounled iu £1,643,816 {2rJ22.. £1,541.3001. FUTURE DEVELOPMENTS I'he Charity's obj¢LIIv< 15 to preserve Pdrhatn House. Its gardL'ns, porkland, collections and its ethos 10 the highest slandards praclicablc, and to ensurc that Pdrhatn cth conlinlle to b¢ npen to wssi(ors aiid ¢njoycd by future generaliuns. li is Lnvi5dged that opcrdliii¥ deli¢its will continu¢ to b¢ cov¢rtd by grants. EVEYTS SINI CE YEAR END Inforrnation relating tci ¢vents since the end ofthe year is giv¢ft iti tb¢ notes to the fLnancidl ststEmEllt5. Pag¢ 5
OR roR TIIL Y REcro 31 DKCEMBE 20 STAI'EMEYI T 0 DJRECI'ORS, RI,:.%PONSIBILITICS Th¢ direcloTS (who Hre B150 the Iruslees of Parhxni Park l.imited for the purposcs of choriry lawl &re responsible for preparing Ihc Report of ilie Dirt¢iTrtS Bnd the tinancial.%lalemenis 111 iircordance with applicable l&w Unilcd Kingdujn AILounling Slalldards {Uiiiied KirLgdom Gen¢r411y A¢cepl¢d Accuuniing Pr8¢iicel. Compariy law reqiiii'es thL' (IIT¥Gtors lo pr¢pg1'9 financial siaiements fer eiicb finoncilll yERr which givt u Iiue dnd fair view incomt And txpenditur¢, of th¢ chorilable compllny for Ihoi p¢riod. Iii pr¢paring th05¢ fin#ncinl #E&i¢mBn15, lh¢ direEtor5 are required lo ob5¢rve Ihe meiliods 41nd prin¢iple5 111 Ilie C.hariry SORP, makc judgem¢nis Rnd cslimat¢s rhBI are re8soiiablc wi(1 priL(lenl'. pr£par¢ Ihe financial 51ulem¢nls on th¢ going concern ho%is unl¢55 Il is inappropriate to Plfsumc that the chariioble bc dircLlors Jrc Ittsi70113ible for keeping prvper MC£Diin1111¥ TEcDrds hiC17 disE195c wilh reasonNble ac¢ura¢y al ny lime the C.'ompAiiieq ALI 200fi. Micy are als1? re4poii%ible fi)r safegu2rdi1i8 Ilir a%selg ol Ihe cliarilable coiiipany and heDce for iakinb7 reA5nable steps foi. Ilie prcvcntion And deiecliun of frAud ttnd other irrtEulAfiiies. AVDITORS The oiidilor5, lartin hiid Company Aiidit Liniiled Iihcii ¢iillcd and Conipany). wert appointed by a resollilioii of re5pttcc ol'subsequeiil accoiirnling p¢riL)d5 11) accurdJii¢e ¥vith sectivn 487 C.vinpanie& Ail 2000. Appl¥¢1 by order ofthr bourd of diiyciors 011 ?Y l.ady Dmri
REPORT RH FTHE INDEPEN RK LIMITLD DITORS TO THE EMBKRS OF Opinion We have audited thc tinan¢ral 51aterncnts of Parham Park Ltmit¢d Ithc 'charitable conipan> I for the ycar cndcd .31 l)ec¢inbL'r 2023 w'hich coiiiprise tliL Stalein¢nl ul Filiancial A¢lii'ili¢s, the Balaiice Shcet, ilic Cash Flow Statctn¢iil Kingdoni li¢ncTally Acccptcd Accouiiiing Practice). givL a trllc and fair vicw ol thu Statc nf ihe charitablc compan) s affairs as at 31 D¢cLmber 2023 and of it$ incomin¥ re¥ources aiid application of rL'59uf¢E5, including its in¢oniB aiid ¢xp¢nditurc, for tlie yexr thcn cnded., have b¢¢ii prLTrpLrly pr¢parLd iii dllurddnce with UiiitLd KinbJutn G¢n¢rally Acccpttd Accounting PraLtice,' and have hEeii prcpared iii accordance wilh the r¢quiremeiJts ot. Ilie Compai?ies .4LI 2006. B51$ for OPiDlon We conducted our audit in accordancc with Inleriialinnal Standards otj Auditlli¥ IIJKI IISAS [[1) dnJ appliiabl¢ law. Oiir rrsponsibilities un(ler those Sland&rds arc further de.scrihed in thc Auditors. TLspthnsibililie4 fnr the audii 1)f the financial sraiciiienrs seciiun of our rcport. Wv arc independent ofthe chariiibl¢ company in accordajice with the ethic31 r¢4uirtmenis Ihat are relcvani 10 our audit ()f th¢ financial tateMentS in the IIK, the FRC's Eiliical %tandard, We bclievc Tliat the audit evidciicc wc have obiaincd is.sufficiciit and appTDpriat¢ to prvvid¥ a basi5 for uur vpiiiioii. C'ontlusion.I relating to Ruing cnllier lil auditing tlic financial siaterntnls, we hav¢ Goijcludcd tliat the direclnr5' Use uftlic going LonLeTn bdsis of accoiiiiling iii Ihe preparalioii of the financial stalements is appropriaic. B&%cd on the M'ork wc havc p¢rforiiiEd. wc have noi ideniificd any material iincertainlies relalinbT to events or condiijons tliai, Individually or colleLtively, may casi significant doubt on thc charit&blc coinpaii}I's abiliti, rv cotitinue is d goin¥ coiicern fnr a pcriLTrd ul'at Icast tw¢lk¥ Jnoiiihs froiTi wli¢n Ihi. fiTrdnLiul slaleffjen15 ar¢ authorised for issuE. Our iesponsibililie5 dnd the r¢spoiisibililies ofihe dirtotors with rcspcci tu going cnnccrn arc dLsLribLd in thc rclcvant s¢ciions of this report. Other informatio The dirLCtni.s are r¢sponsiblL for th¢ oth¢r infonllation. Th¢ oth¢r illformalion cofflpriscs Ihc information irtcliid¢d in the Aiinual Rcport, oiher than thc finanLidl slatimenis and uur Report of the Iiidependciil Audilorg th¢r¢oii. Our opinion on rhL fin&ncial slaleinents dp¢s not cover IhL other inforniatiun and. excepl to the ext¢nl oilicrwi5¢ explieitly siaied In uur r¢port, we do nor expr¢55 any form of assurBnce conclu510n th¢r¢on, In connection wilh our audit of the finonri31 staremeiits, our rt$ponsibility is to read Ilie uiher information and, in doing so, consider wheihcr the otlier information is materially incon5iStent wilh the finanrial 5taremenis or Dur knowledge btained in thr uudit or otherw15e appe#r5 to b¢ rnalerially missldled. If we ideniify such m¢iteri&l inconsi5tenLiL'5 or apparcnt material rnis5tatcmcnts. we re Tcqijircd 10 determine wh¢iher this gives ris¢ lo a Inat¢ri81 Tnisslalcmenl in the rtnancial siai¢nients thcm&Èlve4. Ir, based on Ihc work we have pcrforiiicd, we conclude that there 15 d mat¢rial tnisstatemcnt of'ihis othcr inforinalioii, we are requirrd lu rL'PQrt Iliai fdcl. We have noihiiigw lo rcport ill ihis regard. ()piNioiis ori other mil¢r5 prescribed hy the Cornpnie8 Act 2000 Iii our opinion. bascd oli ihL M'ork undrrtaken in ilie course ol-the audit.. tlie inforniatioii given in the REPOIt of tlic Dircctors for Ili¢ financial ycar for whicli tlic finaiicial 5tal¢in¥nis are prèpared is cong&gl¢ni 1th th¢ finan¥Jal sIAtcmcnls' and the Report of ili¢ l)ireciur5 b¢Ln prepared in accordance with applicable legal reqiiirtnicnts, Page 7
TOFTHE INDEP PARHA K LIMIT BE Matttrs On whith we Ar¢ rwulred t• r•ptyrt by exoeptlon In th¢ light ofthe knowledge attd und¢rstanding of the ¢horilable company and its ¥nvironment obtsined in the cours¢ af the audiL we hav¢ not identifjed M¢rIal misst&tem¢rbis in the Report of thc Directors. We hav¢ iioihing io report in rcspeci ofihc followirt8 matters where thc Compani¢4 Act 2006 Tequires u5 lo report (o you if, ID our opinion.- adequate accountin¥ re¢ord% liave not bEen kept orrLlums adequate lorour audit have nol been received frorn branchES not visited by us., or the financial Slalemcnls are noi irt agr¢cmcnr with th¢ accounting T¢Gords and returns., or certain disLIosuT¢5 L)f direLlurs' remuncratloll 5pe¢ified by law are Dot Inade: or we liave ii()t re¢¢ivcd xll thc intvrination and explanation5 w¢ require fur our audit: or Ihe directorb r¢ not cniitled lu take advanta8e of th¢ small companies Exemption frum the requirement 10 prep3re a Strategic Report or in preparijig lh¢ Repurt of the Directors. Rcsponsibllities of directors As explainLd more fully in the Stat¢mLnr of Dir¥rtor5' Rcsponsibilitl¢s, the diTeclors (who Are also the Irust¢es of the charithble MpanY ftirthe purpuses of charity 18w) Ire rE5ponsibl¢ for the Preparation of th¢ firtanei21 ststem¢nts and fc)r being satisfied that Ihey give a iruc and fair view. and for such internal control as the directors d¢t¢rmin¢ is necessary lo enable th¢ preparation of IinanLial sraiements that are frcL' from maicrial misslatemeiit, whLthcr due to fraud or Ltror. Iii preparing thc financial staienienls. the diTeclors are re5pon5ible for assessing the chariiable c()mpaiiy's abililj I continu¢ as a going conceTll, disclostng, lls applicablc, matter5 rclatLd lo going Ci)rcern and sing the gi)i#&k concern bL514 of accnuniing unlL'SS the dircctors eiih¢i' iiilend tu liquidate the charilable company or to c¢a5e opcrations, or liave no r¥ali51ic altern3tiv¢ but 10 do so. Pa¥E 8
REPORT OF TIIF. INDEPENDENT AUDITOR 8KR OF Our resyonsibilitie.g for th iudit of the financiAI statetpellts OuL- Dbjt¢iives ali lo obtain r¢a%onable assurance about whcilicr tlie tinancial 5talements a5 a whole are fiev frurn inal¢Tial mis51ar¢mcnl, whetlier due lo Iraud ui error. aiid lo issu¥ 3 R¢porl of Ilie Indcpendenl Audiithf4 IhRI includes our opinioti. R¢a501iablc assurance iq a liigh Icvcl of a55uraiice. hul 1.4 iioi a gudranlEe Ihal dn audit conducted iji accoTdan¢e with ISA5 IUKI will always detect a ijiatcrial niis.%latem¢nt wlien 11 txisiq. Misstalemcijts can arisc froni fraud or error and are coiisidercd InareT121 if, Individudlly or in Ili¥ aggre¥ale, tli¢y Lould reasonably b¢ ¢xpe¥l¢d lo influcnce Ihe eLonoinic I'he extent to which OUT pfoiedures are capabl¢ vf d¢ttctitJg irrEgulari¢i¢5, including fraud 18 d¥ldil¢J b¢luw'. Because of IhE Lnlierent limilaliun5 of an audit, Iher¢ is a risk that wc will nat detect ttll irregularities. Including those leading to a material migsiat¢meiit in the fiiiancial sta¢cin¢n15 or nots-LDtnpliance M'ith regulalioii. Slateillenls. as we will b¥ less likely iu bevome awarc of in51aii¢cs of nort-cutnplianc¢. The risk is also Ereaier rtgarding irregularities occurrinb due 10 fraud railier Ilian crror, as fraud invnlves iiil¢ntioiial cuiicealnienl, for¥¢ry ¥oIIu5ion, Liillis5Lon or misiepr¢5enidliun, W¢ obiain¢d undcrsiaiiding of the Icgal and regulatory frainework applicable t() ihe c(?mpaiiJ via discussiuns with Ihe director5 and uui previiiu5 knowl¢dgv vf lh¢ iuiiipany. This Identified tlial thL rnosl signifiLttllt laws 2nd r¢gula110115 rLlaiL 10 Ilit farm and COlilc11t of the linaii¢ial Sla eTnenls suoli a5 the UK Compani¢s Act 2006. ChaTlliL& ALI ?0 I l aDd thc C.liarilies SORP {FR.8 1021 as wcll ts Heblih & Satetj and Eniploynicnl laws. The LLTrnipaiiy coillpli¢> i¥iili Ihgs¥ laws aiid r¢giildlivn5 hy usiiib appTopfidt¢ly qualificd prole.%£iona15 to Preparc Ihc firjartcial stal¢rncnt& aiid to providc advic¢ As part of our planning prucess we assessed sugL'¥plibility of the compuny'& financiol 5talotncnts to niaterial tll15&1alLlnL'nls, iIicludirig how fraud mighi oLbiir b}, rnakiJig7 an a55Lssm¥nl of the k¢y risks. ThL kej risk identifi¢d in respect nf I'arh4m Park Liinilcd 15 tnanaEemeiit (Trvcrridc. The dircctor3 contiimed n() aLtUdl, suspected or alleged cascs ol-fraud. Ela%ed on ihis asses.sment we desi&Tii¢d our audit procgdurcs to address thc5¢ key risk aTC with an Cnipliasis tcstiiig Ihc ¢ontrD15 iii plaLL' irt Ihose ar¢a5 suscLplible to managcmenl overrid¢ including Icsting mdnudl journa15 ajid makin&. ¢Jiquirics of m2naKcinent. Wc alsu r¢view¢d corrc5poiidence, including niiiiLIILs of the direclurs, )nceiin&ps atsd leb41 and proftssiondl f¢e5 10 idenlify any nuii.complianc¥ wilh r¢icvanl laws and regulation5. A turther desLI iplion of our resp()nsibilities for thc audil of the financial slalcm¥nts is locat oli lh¢ Financidl Repc)rling Cthun¢il's web51te at www.frL.ur¥.ukiaudiiorsrespvn5ibilities. This dEsLription funn5 partofour Repi)rtof the Independeni Auditor5. lJS¢ of Dur report '1'lii5 report Is madc solely 10 the chariiablc compdiiy's nienib¢rs, as a bvdy> in accordanc¢ wiih Cliapier 3 ofpart 16 of the Compdnies Aci 2006. Ouraudit work ha5 bccn undcrtakcn.En thatwc might slaie lo thc charilahlc company's mctnher. Ih05e mdlleI5 w¢ ar¢ I'equired lo stat¢ io Ihcjn ill an audiivTS' report and fDrno oihcrpurposc. Tu Ihc fulleEt cxtcntperniiiied by law. we do not acceiit oi. asullIL. TesprJn5ibilily Iv anyonc other than the charitiiblL compdn} and the ch81itable coInpany's meml)Lrs as a body. for our audir WOTk. for this repurt, or tor the npinions we hAvc formed. I larribl Sergeant fCA (Seiiior Staiutory Audiiorl for and thrt hehall of Martin ond Lompany Audit Liiniled Chartered Acctsuntanis and Siatulvry Audiiors 25 St Thomas Street Wiiiche5t¢r Hanip5hire Sn23 9HJ Dare.. Pag¥ 9
PARHAM PARK ITED rAT ENT OF FINANCIAL ACrI,]TIs 'IN I IN(.'OME AND KXPENDI'fuRE BER2 31.12.23 Lrtr¢s¢ricted funds 1.12.22 Total funds NotES INCOME AND EI%DOWMENTS FROM Donations and leg&¢ic5 564,258 469.709 Chgritb1e aciivities House Gardens c.atering room Shop Estalc aiid woodlands Hl.S Erani 106.491 ID6,874 16,A03 32,864 175.711 108.1638 88,065 90,873 14,54Q 27,90S 99.308 Invesiinent income 338 905 323 930 1450 744 1 114 333 EXPENDITURE ON Invesim¢nt management Costs 86,Ulll 72,098 Chsrlt*ble ictivltle8 14ollse Gardens Cat¢ring room 249,037 288,75 16,44Q 22,922 144,691 268.431 12,683 158,784 254,164 288,844 11.979 11.006 142,385 264,562 90,932 Eslatc and woodlands Administratioii Major propcrty repairs HLS grant Oth¢r 480 593 Tot5bl 28 1143 563 ET INCOMK/IEXPENDITLRE} 102.516 129,230} RECONCILJATIOY OF FUIYDS Total funds brought rurward I,S41,300 1.570,530 TOTAL FUryDS C,%RRJED FORWARD 643 816 541700 CONTINIIING" OPERATIONS All incoming rcsourves and re50urc¢s expend¢d arise frvrn continuing activitics. The notes form part of these finaneial sratem¢nts Page 10
Jl.12.2J 31.12.22 Tol&l funds Unrutrltted rund¥ Notes FIXF.D ASSETS TSible asscts 1.292,616 1.247.654 CURRENT ASSEIS Stocks Debtors CRsh at bank and in hand 12 23.928 291.929 147 922 28.070 280,464 159 805 463,779 468,339 CREDITORS Amounts falling du¢ within on¢ year 14 (112,S79) 1174,693) ET CURRENT ASSETS 351200 293 646 TOTAI, ASSETS LESS CURREIYT UABILITIES ,643,816 1.541,300 DIET AETs 1 5413IK) FUNDS Uni¢siriFt¢d funds 15 I S4131JO TOTAL bUNDS Th¢s¢ fth4nci818t4iEm¢Thts have bcen prepated in ErdnCe wilh IhE pIDvisions applicable to charirable companies subject ¢he small cotnpxniets r¢8ime. The finAncialstAtem¢ms wore &pprovcd by Ih¢Boatd of DIOrS and auihorised for issue on and w¢r¢ SiBned on its b¢haifby'. Lady Emma BarnArd- f)ir¢¢ior The notes form pttrt Trf these fin8ncial ylatements P#ge 11
PARHAM PA IMrrKD CASH FLOW STATEMEN FOR TH AR FNDED 31 DE BER2 31.12.23 31.12.22 Notc5 Cgsh flows frvfft opergting 4¢tivities Cash generated from opcralrons Finance cosis 120,092 9,587 121.923 8.714 Net cash provided by op¢rating activities 110505 113 209 CAsh flows from inve9ting &r¢ivities Purchase of laiisTribl¥ fixed &&sels Int¢rc5t received 1123,510) 1,122 186,408) Net cssh used in investing &ctiviri¢s Ch4nge in tssh 2nd ea5h equivalents i the reporling period C'iqh and cash equlvalerLt% at the beginning of the reporting period (11,883) 26,801 159 805 C.A8h E&sh rquivalents At the end of the reporring perhod 147 922 151) %a5 The notes form part df th¢se financial statement5 l)age 12
PARHA RK LIMITED I'HE CASH F F.AR LNDED ow TAI'EM I)ECEMI BF.R 2 RF,CONCILIATION OF NET INCOMEIIEXPENDITLRE) TO NLT CA.$11 FLOW FROM OPERATING ACTIVITIES 31.12.2J 31.12.22 Net IttL(b]n¢/{expcnditurel for the repovtlThg ptriod148 Per the .8t8tÈment uf Fin¥n¢ig1 Activities) Adjustmcnts for.. D¥pre¢iiilion ¢harges Interest rcceived Finance ¢O$lf Derr¢ase in 8tocks Increase in dLbivr5 (Dccrc?s¢}liiicrcase In creditor5 102,516 129.230) 78,S48 11,1221 9,587 4.142 (11,4651 72,680 8.714 4.976 127,2231 et e4$h provlded by tsperqtlons 120 092 121 Y2_ ATrIALYSIS OTr C.IIANGES IN IYET FUNDS At 1.1.23 f.ash flow At 31, 12.23 Net cAyh Cash at bunk and in hand 159805 147922 The noi¢s form pon of Ih¢s¢ financi318t#tements PRgc 13
PARHA ITE STO THE FINANC AL STATEMENTS ACCC)IJN'TINC POI.IC-.IES Bgsis of pi'ei)4ring the fiii4ncial 51ytenients Thc fiiianci£l stttieincnts of thc chariiablc tOlTIP311y, which is a publiL benctjt cntity under Tr'RS 102, have been prepar¢(l in aGcordaiice with Ihe Charili¢5 SORP IFRS 1021 '.Atcounling and Reporting by Charities.. Siaremeni of RecoiiiiiJeiid¥(I Praclice 2pplicable 10 Ghari11¢5 p¥eprIn their dccounls in d¢¢urdan¢e with th¢ Financial R¢pnrting Standard applicable in the UK and Rei7ublic of Ircltsnd Iri<s 1021 Itffective l Januar). 20191,, Financial R¢porting Siandard 102'The Fiiiancial Reportirtbtr Standard applicable in tlie UK and Rcpublic of Ir¢l#nd' #nd Ihc Companies Act 2U06. The fitiaiicial ylaternenls hav¢ beeii PlLpared undri lh¢ hi51uriLal 1051 coiiveniioii, as mvdified by Ihc revaluaiic?n Df certain a55el5. )e fiiiaiici81 staieinei115 are pres¢nted in sicrling which is th¢ fuiicrional curr¢iiLy of Ilie cha*ity and rouiid¢d to Ilie nearest £. Income All in¢ome is f¢LugTrnis¥d in lh¢ SialtmEr)t of Fiiiancial Activities unce the chariiy has entiilemenl 10 the fund5, It Is probablr Ihxt Ihc income will be r¢beived and the amount can be ni¢asured reliably. Il Rei'etiue repTeSeii15 the nel amuunt ch)rg¢¢J iv visitors Icss anv Park discouiits, excluding value addcd tax. ii) Granis rec¢iv<J ¢ovenanlcd income Tepre$ents die amounts rccejvahle during the period, together willi aiiy taxation r¢cov¢rablc tlici'con. iiil Investment income is earned thr(Trugh holding as.sct% for Invc5tmeni purpoqes such a5 propeity. It includc5 int¢rost and rent. RLnt21 iiicoiii¢ is recognised a5 ihe eharily's riglit to r¢c¢ive paym¢nt ss establish¢d. ExpeThditurv Liabilities are rL'cugi)ised as ¢xpenditurc a5 $0011 Iherc is a Icgal or cunslructive ohligation commiiiiiig the cllarily 10 Ih21 expcndilure. il is probable tliat a transter of L'LuiioniiG ben¢f5t5 will be requireJ iii settlemeiil and th¢ ainoiiiit ()f tlie oblig1]Ull cali be measurcd rclitsbly. Exp¢iiditur¢ is accountcd for i)n accru31s basi4 and Ila b¢¢n cldssifiLd und¢r h¢Ading% ihAI dggTcgai¢ all c<)%t rLlal¢d to the calegDr)'. rherC Losis cannot be diTecIIy attribuied to particular headings they havc bLL'n allocal¢d to activities on a basis con$ist¢nt with Ihc use of resourLLS. Governan¢¢ 105t5 Cunipri.4e5 th¢ costs uf Buvernaiice aTfdngemenis. which relate to thc gLncral running of thc Charity. Allotgriort And ipportionment of cost WhLI-E caniiol be directly dtlributod ro p2ni¢u12r he#din¥5 they have bcLn allocatcd to activities on a basis nnsisrcnt willi thc iise of I'¢sources Txngible fixed Assets D¢prcciariun 15 provided al the following an(iual rates iti ordLr lu writt off cach assei over 11$ ¢stim4ted uscful lif¢. Improvemenrs tu property Carering. xardcn, park ¢1¢ Fixluie% and fjltings Motor vehicles Officc equiprnent 2-9Q/o on cosr 20% LTrn cvst I 0/0 011 C05t 250/0 on rtducin¥ bblancc 330/ll on cost Tangible fJxLd ass¢l.% arc sratcd dt Lost (or dcemÈd costl or valuation 1¢&4 accijniulaicd deprBGiaf40n and aCCUtnulated impairmciit lo55cs. Cost iiiclud¢.£ c0515 direLily Rttribulable to makin¥ ¢h¢ a5Stt capablc ufoper&tin8 Page 14 conlinued.,,
PA CJ EN MBER2 ACCOUNTIIYG POLICIF.S- eonlinued TArtgible fixed a%se15 Fixed asscts are capitalised ivh¢r¢ ihe initlal cosl exceeds £500. Sto£lL Stocks ar¢ siat¢d Ai the lowerof cosLand eslimaitd selling price less costs lo cumplele and 5¢11. Cost includes all ¢OSl& vl purcha5¢. Costs uf LunvL'rsiun and oih¢r costs incurred in bringing slo¢k lo 115 presenl 5ucaiioti and cDndition. Co&1 15 cal¢ulaled using the first-in. first•OUt fomiula. Provision is mad¥ for datnaged, obwl¢tc and slow-nioving stock wherc appropriat¢. Thx%liu -j.he charity i5 excmpt from LOTPOTalion tax OD ils charitabl¢ a¢tivities. Accounting Unrestrict¢d fund3 can be ustd in a¢cordaiice with the ¢haritabl¢ objectives at the discretion of the truste¢b. Hire purchase And leaslnR comjnltments Rentals paid under gperaiing leases are char¥cd to th¢ Staiement of Financial Acliviiie5 on a straight line ba515 over ihe period of the Icasc. Pttjsion cost5 other p05t-retirement b¢llefJts Thc rh8ritllhl¢ company opcralc% a defined coJJlribulion pension Scheme. C'.ontribution5 payable to the charilabl¢ ojllpany's pension s¢hein¢ ar¢ charged to the Siat¢mtnt of financial Activliies in the period lo which they rclate. IrrecoverAblc vat Irrecoverable VAT is writt¢n off to the samc cxpeh8¢ rolcgory in which the acthal exp¢nditure was iiirurr¢d. Finxneial IiistrumtTrts Th¢ rharity only has fittBncial asscis and liabilities of a kind thai qualify as basic financial instruments. Basic fJnan¥Jal instrutn6nls art inilidlly reLo8nis¢d at transaciion vali1¥ and siibsequejiily inlasured at their $¥tilement value. DONA'fioNs AND LEGACIES 31.12.23 31.12.22 Donations Gifl aid Granrs 6.435 7,823 550 000 7,590 450 000 564 469 709 Page 15 conlinu¢d.,.
RFI ED YOTF.S I'O Tllb. P'I.YAI%(.'IAL STATBMENTS- continued JYVESTMENT INCOME 31.12.23 31.12.22 Rents recciv¢d Deposit account inr¢resi 3J7.783 1,122 323,910 323 930 INCOME FROM CHARITABLE ACTIVITIES 31.12,23 31.12.22 Adrnission ¢haTge5 aiid salcs Huuye Other operating incom¢ Housc Admission chllyges and %al¢s Gardens Gard¢n plants sold Gardens Retail sale5 Gardens Retail sales Catcriiig room Shop Esiate and wuudlall(15 Lstate aiid woodlands 87,816 18,675 68.098 26,3B 12.396 16.8OJ 32,1164 82 111,963 72,(J92 15.073 61,082 12,920 14,540 27,YO 82 26.016 I'imbcr 5alcs Erivironmenial stewardship ijJ¥om Sponing Itisurc incom¢ Park even15 inioffl¥ Venisoji sales Basic Paymeiit Schcme Woodland granis IILS grant rcccivcd Esidl¢ and woodlands Lslalc and wDodlaiid5 Esiaie and woodlands .51ale and woodl4nds E,siale 2nd woodl3nds Estate and woodlands HT.S grartt 16.710 8,879 9,561 6.678 31.382 9,354 Y,61.5 4J89 24,430 320 694 RAISING b'lJNI)S Inwe%lrnenl mngenIent tos¢$ 3A,12,23 31.12.22 nsurdnce 2,774 11,224 36,715 2,440 gS6 2,3 85 5,662 28,33) 2,942 1,025 Protessional cts%t5 Property rtpairs Maintenance charges Security system Property depreciation Page 16 ¢on¢inucd...
M PARK LIMITED NOTES THEF AN IAL OR THL YkAR ENDED 31 DECEMIIER 2023 CHARITABLE ACIIVII"IES COSTS Support cosis Is¢¢ note 71 Direct C0515 Totals Hous¢ Gardens Cakring r(>om Shop Estate and woodland5 Admint5rraliort Nlojor property repairs HLS graiil 234,007 281,476 16,4411 22,922 144,691 15,030 7,274 249.037 288,750 16,440 22,921 144,691 268,431 112,683 268,431 I 12,683 971003 290 73% ll,'VPORT cos'rs Goverll8nce costs MattBgern¢nt ToiAIs House Gardens AdministratLO 15,03 7,274 222 000 15,030 7,274 268 431 244 298 73$ Support CQ5ts. included in the above. arc as follows.. Gnvernnce costs 31.12.23 31.L2.22 Total Adminisiraliun AuditDrs' rLmuneration Audilor5' reinuiieratioii for tion audit work Legal fe¢s Management expen.ses 7,100 3,590 7,741 6.450 3,300 4,463 Page 17 coniinued...
PARHAMPA MITED TE FOR HE FINAIY ED L STATEMENT DECEMBLR - continued YE I. INC.O.MF,II&,XPF.NDITIIRF.) et inLuinel{exp¢ndiiur¢l is slated after charginbTrllcrediliThg)', 31.12.23 31.l2,22 Auditors, remunerl¢ tion Other non.audit servic¢s Dcprcciarioii uwned assets Hirc of plant and machinery 7.100 3,590 78,548 6,450 3..300 72,680 DIRECTORS, RE.MUNERATION AND BENE.]Ts Thcre werv no dircctors. remuneration other benefit4 for the year ended 31 Deceinber 2023 nor for lh¢ y¢ar ended .3 l Decetnber 2022. DirtttOT$' expeiJse8 31.12.23 31.12.22 Directors, exp¢n5¢5 480 593 DLiring the year Ilie dir¢c(or5 were reinibur5¢d travel expenses of £48012022.. £59_3). io. STAFF COSTS 31.12.23 31.12.22 Wagyes and %alaries SociBI %ecurJty costs Oihcr pttn&ioii costs 440,761 Z8.537 441,740 2X,496 479 731 480 539 The avcrage rnonthly number of ¢mployces during the year was as follows.. 31.12.23 31.12.22 Administration House GaTd¢ns Lstate 2nd wood5 seoi1a1 Staff 20 20 39 41 No tmployecs rec¢iv¢d emoluments rn exccss uf £6Q).000. Key manaEem¢nt personnel remuneration was £142,52112022., £126,275). Other pension costs relate lo the pension contributions thai the c.harity makes ftsr thc benclit of senior eiiiplL)yees and a5 Ir&ally required for all oth¢r ¢mployce5. Th¢ assers of the scheme arc administercd in a fund indep¢ndeiJt from those of the Ch2rity. Page 18 continued.
PARK LIMI ESTOTHE FI IALST TEMENr E YEAII ENDLD 31 DECE nTr;R 202 OR TAISC.IBLF. TrIXF.D ASSE'rs ImproveineDIS Catering. garden, park et Fixtures ai)d property COST Ai l January 2023 Additions 1,541,554 Z19,295 19,320 At 3 1 Decembtr 2023 1637 901b 233 698 DEPRECIATION At l Janusry 2023 Charge for year 348,841 53.404 174,Q49 22,537 10,770 2,3Jl Al 3 1 De¥¢nib¢r 2023 402 19 45 586 NET IIOOK VALIIE A¢ 31 Dcccmber 20?3 1235 655 AT 3 1 DeG¢inb¢r 2022 1192713 Motor vehicles Office L'quipment Tota15 COST At l January 2023 Additions 19,845 39,531 1,839,545 123 $10 At 31 Decemb¢r 2023 39.531 1963 0$5 DEPRECIATIO At l Janiiary 2023 Charge for year 19,318 133 38,913 143 591,891 Ai 31 Decemb¢r 2023 39.056 670 439 b;T BOOK VALIIF, Ai 31 Decenibcr 2023 394 Ar 3 1 December 2022 527 618 1247 634 The leAsehold improvements are cttpitallsed At cost and provlslon mad¢ by way of 8 depreciation ¢harg¢ to reflect Ihat costover the period duri*g whtch the ¢haTiti' will derrve economic benefji from those improv¢m¢nts. No comp¥ns&iion is due in respcc¢ of these improvements under the lemis of the letse atkd as such ih¢s¢ sfflprovemenls 3r¢ not realisabl¢ ass¢ts. If at ftny time a prop¢Ety on which ihe ¢harity has incurrcd imprth.cMcnt expendtture becomc.E r¢dundanl vi is withdrawn from th¢ loase any r¢mRinin8 iinexpended wji Trvjll br written off as an expell$¢ at Ihai time. continLied..
HAM PAR LIMITED NOTESTO THE FINAN IAL sfATEM FOR TIIK YF.AR E DED JI DECEMB R 2023 12. STOCKS 31.12.23 31.12.22 StQGks 13. DEBTORS: AMOUN'I'.S Tr"AI.I,lC DLE WITHIN OliK YEAR Jl.12.23 3L.12.22 Tr8d¢ debtors VAT 17,204 3.S,337 239 13,999 16,528 249 937 Prcpayments and accrued incom 291929 280 464 CREDI'I'OKS.. AMOLNTS FALLING DUE WITHIY OYE YF.AR JJ.12.23 31.12.22 Trade creditor5 Accru#l$ 40d dcfcrr¢d incDme 47,013 91,266 174693 MOVEMLIYT I.Y FL'NDS LTnr¢stTlCtcd funds 'lThc uijr¢51riLted fund5 repr¢s¢nt8 ihe free futtds of the Chariry and includes amounts which the Tnjsiees have designated for particiilar purposes. 16. RFLATED PARTY DISCLOSURES During 1996 the fr¢chold ownership nf Patliarn, SUTrounding park land and other PTaperty was acquiTed by PPT. Subsequ#nt 10 Ili15. tlje leasehold intcrest of th¢ (:harity was extendcd to cover all th¢ property owned by PPT. A ncw 99 year leasc wa5 a&¥reed on 16th July 2013 which is in accordance with the prDvi5ioiis In Ihe Charily's McmoTandum. Th¢ Charity is fin#Trcially d¢p¢ndanton re¢¢ivinggrnnts from PPTwhich was s¢t up to prOVideadeq&le assi$lan¥e lo tlie Charity to en&bl¢ it to Lnanage ils properties irt a¢cordan¢¢ with the slated obj¢¢tives re8lSt¢red with the Chjrity co1115510ne8. During 2023 such grants iotalled £550,000 (2022: £450,OQO). During theyeir PPI" leased an li1vestmlt i<$id¢ntial propety to th¢ Charkty for a pOppeOrn rent Df£ io. Prior to this PPT donated thc rental incomc re¢¢iv¢d for thi5 propeity io the charity. This amounted to £5,475 in the year (2022.. £11.629). Pa8e 2(k contLniied...
PARHA PARK OTES T THE FINAIY IA ATKMENTS- FOR TIIE YEAR ENDED3I DECEMBE 17. SIIARE CAPITAL The Charity 15 a coinpany limited by guarantec and does not li&vc sliare capital. 1The aGGounts do iiot therefore itjclude reconciliatioii of movements in shartl)older funds. 18. LIABILITY OF TIIE IMEMBERS Every m¢tnb¢T of the cotnpsny undcrtak¢s tts ¢nntribiite 10 thc it %%et% af the Charity Such may be required, iiot cxceediiig £1, in the eveiit of the Charity beingr wound up whilc ihcy llre Incrnber5 or within orte ye&r of their ceasing to be mernbers. 'I'his will bc lor the paynient of the d¢bis and liabilities of th¢ Cliariry contr8cled before they ocase lo br members and of Ihc Costs, char8e5 and ¢xp¢ns¢5 of wiiidiiig up for tli¢ adjuslnivt]t of Ilie light5 of the eoniribuiions, 'I'he iiumb¢r of nieinber$ ai I l Decembcr 2023 was thrcc, J9. 'I'RANSACTIONS WITH DIRECI'ORS During the year, in th¢ ordinsry cour5¢ of busincss, th¢ Charity incuired ¢o$¢s with the following.. Dr'f Long51affe-CJowAn was Paid £012022. £8331 for professional gardeii advisory setvic¢s provided. Mr C Sclioolinur rcceived £3.810 (2022.. £6,913) in respect of professional.seTViC¢5 provided during the year. Thc Charity al%0 rcc¢ivcd an apeii TMBrk¢l rcni frotn Lady Emma B2rnard for the private re5id¢nc¢ in the main housr. The rent pay8bl¢ s5 indcpendenily as5e5sed by a qualified si)rvLyor in compliance i¥iih the provisions of Charities ALI 2011 Sectiuns 117-1?l. This Iviall¢d £30.000 12022, £30,01101. Expenses of £43,633 12022.. £40,242} relBtin8 to thc per.$onal riinning COS15 of the private residenre in the nJ#in houge w¢r¢ recharsed. Of Iliis £33,23512022.. £30,209) wos Teimbursed leoving a balance due from Lady Emma Barnard of £10,398 at the y¢ar ¢nd12022.. £LO,0331. Pa¥e21