## |Report ofthe|Trustees|| |---|---|---| |Report ofthe|Independent|Auditors| |Consolidated|Statement of Financial Activities|| |Balance Sheets||| |Consolidated|Statement ofCash Flows|| |Notes to the|Consolidated|Accounts| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year ended 31 De|cember 2020||||||| |---|---|---|---|---|---|---|---| |||||||2020|2019| |||||Unrestricted|Restricted|Total|Total| ||||Note|E'000|f.'000|f'000|f'000| |Income from:|||||||| |Donations
and legacies||||103|312|415|112| |Charitable
activities|||||||| |Admission
and
Education|membership|||906
36||906
36|487
87| |Events||||55||56|64| |Other trading
activities||||646||646|701| |Investments||||2||2|2| |Other income||||128||128|| |Total income||||1 877|312|2189|1453| |Expenditure
on:|||||||| |Raising funds||||150|39|189|92| |Charitable
activities|||||||| |Landscape
Visitor management||||286
467|79
183|366
650|369
531| |Education||||64|24|88|142| |Other trading
activities||||354||354|490| |Total expenditure||||1 321|326|1647|1 624| |Net expenditure
and net movement||in funds before gains||556|(14)|542|(171)| |Transfers between|funds|||(13)|13|(0)|| |Gain on revaluation|of investments|||20||20|33| |Net movement
in|funds|||563|(1)|562|(139)| |Reconciliation
of|funds||||||| |Total funds brought|forward|||420|58|478|617| |Total funds carried forward|||12|983|57|1 040|478| |As at 31 Decembe|r 2020|||||| |---|---|---|---|---|---|---| ||||Group||Charity|| |||Note|2020|2019|2020|2019| ||||f.'000|f.'000|K'000|E'000| |Fixed assets||||||| |Tangible assets|||236|262|236|262| |Current assets||||||| |Stock|||30|51||| |Debtors|||105|115|276|119| |Cash at bank and|in hand||1,024|316|875|300| ||||1 159|482|1 151|419| |Liabilities||||||| |Creditors: amounts|falling due within one year|10|(305)|(202)|(29/)|(139)| |Net current assets|||854|280|854|280| |Total assets less|current liabilities||1,090|542|1,090|542| |Creditors: amounts|falling due after more than one year|10|(50)|(64)|(50)|(64)| |Total net assets|||1 040|478|040|478| |Funds||||||| |Restricted
funds|||57|58|57|58| |Unrestricted
funds:||||||| |Designated
funds|||571|85|571|85| |General funds|||412|335|412|335| |Total unrestricted|funds||983|420|983|420| |Total charity funds||12|1 040|478|1040|478| |Year ended 31|December 2|020||||| |---|---|---|---|---|---|---| ||||||2020|2019| ||||||F000|f'000| |Net cash used|in operating|activities|||706|27| |Cash flows from investing||activities||||| |Interest and dividends|||||2|1| |Purchase|ofequipment|||||(168)| |Net cash provided
by investing
activities|||||2|167| |Change
in cash|and cash equivalents||in the year||708|(194)| |Cash and cash|equivalents
brought||forward||316|510| |Cash and cash|equivalents|at the|end ofthe year||1 024|316| ||||||2020|2019| |Reconciliation|of net income to net cash flow from operating|||activities|R'000|f.'000| |Net movement
in funds|||||562|(139)| |Depreciation|||||26|18| |Interest|||||(2)|(2)| |(Increase)/decrease
in||debtors|||10|40| |Increase/(decrease)
in||creditors|||89|86| |Decrease|/(increase)
in stock||||21|(30)| |Net cash used|in operating|activities|||706|27| ||||||2020|2019| ||||||6'000|f'000| |Cash atbank|||||1 024|316| ## ## ## ## ## |h)|Allocation ofsupport costs|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Support costs have been allocated between
governance|||costs|and other||support costs.||Governance|||||activities||||| ||comprise organisational
administration
and compliance|||with constitutional|||and statutory||requirements.|||||||||| ||Governance
and support costs|have been apportioned||between||all activities based on staff|||||head count.|||||||| |i)|Fund accounting|||||||||||||||||| ||Restricted funds (note 11)are to be used for specific purposes|||||as laid down by the donor.|||||Expenditure||||which|||| ||meets these criteria is charged|to the fund.||||||||||||||||| ||Unrestricted
funds are donations
and other incoming
resources|||||received|or generated|for||its||general||purposes.||||| ||They include funds designated|by the trustees
for|particular
purposes
where their use remains at the|||||||||||discretion||||of| ||trustees.|||||||||||||||||| |J)|Tangible fixed assets|||||||||||||||||| ||Fixed assets are stated at cost|less accumulated|depreciation||and impairment
losses. Assets|||||||costing||more than||||| ||E2,000are capitalised.
Depreciation
is calculated||to write off the costs of||||the fixed asset||by||equal instalments|||||||as| ||follows,
all straight line.|||||||||||||||||| ||Depreciation
is calculated
on a|straight
line basis|to allocate the charge to their residual||||||values over|||||the||||| ||estimated
useful lives as follows:|||||||||||||||||| ||Motor vehicles|10years||||||||||||||||| ||Landscape
equipment|5 years||||||||||||||||| ||Tea room equipment|5 years||||||||||||||||| ||Fixtures and fittings|3years||||||||||||||||| ||Computer
equipment|3years||||||||||||||||| ||Trustees have considered
the value ofthe works||ofart|held by||the Trust and accordingly||||estimated|||the||value of|||| ||these works and related pieces.|||||||||||||||||| |k)|Stocks|||||||||||||||||| ||Stocks are valued at the lower|ofcost and net realisable||value.||||||||||||||| |I)|VAT|||||||||||||||||| ||The group is partially exempt for VAT and irrecoverable|||VAT is||included|in expenditure.||The|||charity's||subsidiary,||||| ||Painshill
Enterprises
Limited
is|registered
within the same VAT||||group.||||||||||||| |m)|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.||||||||||||||||| |n)|Cash at hand and in bank|||||||||||||||||| ||Cash at bank and cash in hand|includes cash and short term highly
liquid|||||investments|with|||a|short|maturity||||of|| ||three months
or less from the date ofacquisition||or opening of|||the deposit or similar account.||||||||||||| |o)|Creditors
and provisions|||||||||||||||||| ||Creditors
and provisions
are recognised
where the charity has|||||a present|obligation
resulting|||||from a past event||||||| ||that will probably
result
in the transfer offunds 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.||||||||||||||||| |p)|Financial
instruments|||||||||||||||||| ||The charity only has financial assets 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.|||||||||||||||||| |q)|Pension scheme|||||||||||||||||| ||Painshill
Park Trust contributes|to a group personal
perision scheme, the assets ofwhich||||||||are administered|||||||by|| ||Nest. It is a defined
contribution|scheme. All contributed||costs||are accounted
for on the|||basis of charging||||||||the|cost| ||of providing
pensions
over the|period when the charity||benefits||from the|employees'|services. The|||||charity||||has no|| ||further
liability under the scheme.|||||||||||||||||| |Painshill
Park Trust Limited|Painshill
Park Trust Limited||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes to the consolidated|accounts (continued)||||||||| |Year ended 31 December|2020||||||||| |2 Analysis ofgroup income|||||||||| |||||||Note 11|||| ||||||Unrestricted|Restricted|Total 2020||Total 2019| ||||||E'000|F'000|6'000||6'000| |Donations,
legacies|and|grants|||||||| |National
Lottery Heritage|||Fund|||26||26|26| |National
Lottery Heritage|||Fund|||250||250|| |Garfield Weston Foundation|||||50|||50|| |The John Coates Charitable||||Trust||10||10|| |National
Lottery Community||||Fund||10||10|| |Lady Alexander of Weedon|||||||||20| |Richard Reay-Smith|||||5|||5|| |Kilroot Foundation|||||10|||10|| |Anonymous|||||||||14| |Sir Hugh and Lady|Stevenson||||||||10| |Cargill PLC||||||||9|5| |Cargill Inc.||||||||5|5| |Community
Foundation||for||Surrey||||5|5| |Other donations
including|||Gift Aid||28|||35|27| |Charitable
activities|||||||||| |Admission|||||614|||614|383| |Membership|||||292|||292|104| |Education|||||36|||36|87| |Events|||||45|||45|48| |Other park income|||||11|||11|16| |Other trading
activities|||||||||| |Tearoom|||||365|||365|322| |Retail|||||130|||130|86| |Commercial
events|and|filming|||93|||93|137| |Venue hire|||||58|||58|156| |Investment
income|||||||||| |Bank interest|||||||||| |Other Income|||||||||| |Job Retention
Scheme|||||84|||84|| |Insurance
claims|||||43|||43|| |Other income|||||1|||1|| |Total Income|||||18|3 2|2|89|1453| |3|Analysis
of|expenditure|expenditure|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||Charitable|activities|||||| ||||||||Vrsitor|||Governance||| |||||Raising funds
E'000|Landscape
E'000
management
E'000|||Education
E'000|Support costs
E'000|costs
E'000|Total 2020
E'000|Total 2019
E'000| ||Staff costs|||38|164||282|55|196||736|789| ||Restoration||||5||||||6|30| ||Gardening||||52||||||62|56| ||Maintenance||||34||15||||49|66| ||Occupancy||||4||160||||164|171| ||Commercial|operations|||||185||||185|200| ||Events|||125|||15||||140|125| ||Marketing
and adverusing
Legal and professional
fees
IT|||6|12||63||91
17|16|69
119
17|40
58
17| ||Depredation
Other costs||||13||11
68||2
18|0|26
86|8
64| |||||169|||799|55|324|16|1,647|1,624| ||Support and|governance|costs|20|82||205|33|(324)|(16)||| ||Total||||366|||||||1 624| ## ## |Staff costs||||||| |---|---|---|---|---|---|---| ||||||2020|2019| ||||||6'000|E'000| |Salaries and wages|||||627|600| |Casual staff|salary costs||||51|106| |Social security costs|||||44|51| |Employer's|contribution|to defined|contribution|pension scheme|13|12| ||||||735|769| |2020|2019| |---|---| |No.|No.| |1|1| ## |remuneration
and ben
(2019:6)|remuneration
and ben
(2019:6)|efits for the k|ey management
personnel
isf|307,852(2019:f2|42,587). 20|20 included 9pe|rsonnel| |---|---|---|---|---|---|---|---| |The average number||of employees|(head count based on number|of staff employed)|was;|2020|2019| |||||||No.|No.| |Raising funds||||||1|1| |Landscape
Visitor management
Education||||||5
13
2|4
12
4| |Support||||||5|3| |Governance||||||1|1| |Total||||||27|25| |Net expenditure|for|the year|||||| |||||||2020|2019| |This is stated after charging:||||||K'000|f."000| |Auditor's
remuneration||||||5|5| |Operating
lease
Depreciation|payments|||||17
26|9
18| ## ## |||||||||||Motor|Landscape|Landscape|Landscape|Office|Tea room||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||vehicles
E'000||equipment
f'000|||equipment
F'000|equipment
f'000|Works ofArt
E'000|Total
f'000| ||Cost||||||||||||||||| ||At the start of|the|year|||||||80|||29|33|120|60|322| ||Additions||||||||||||||||| ||Disposals||||||||||||||||| ||At the end of|the year||||||||80|||29|33|120|60|322| ||Accumulated|depreciation|||||||||||||||| ||At the start of|the|year|||||||18||||31|6||60| ||Charge for year|||||||||8||||2|11||26| ||Depreciation
on disposals||||||||||||||||| ||At the end of|the year||||||||26|||10|33|17||86| ||Net book value||||||||||||||||| ||At the end of|the year||||||||54|||19||103|60|236| ||At the start of|the|year|||||||62|||24||114|60|262| |8|Investments|in trading||||subsidiaries||||||||Group||Charity|| ||Name ofsubsidiary|||||||||Holding||||Proportion|ofvoting|Registered|Investment| ||Painshill
Enterprises|||Limited|||||Ordinary||Shares|||100%||England|1| ||Income from the trading|||||subsidiary||is received||by way of Gift|||Aid. Please refer to||note 13for further details.||| |9|Debtors due|within||one year||||||||||Group||Charity|| |||||||||||||||2020|2019|2020|2019| |||||||||||||||6'000|E'000|K'000|f'000| ||Trade debtors|||||||||||||2|48|1|15| ||Prepayments|and accrued income||||||||||||98|62|98|62| ||Current accounts||with||trading||subsidiaries|||||||||172|37| ||Other debtors|||||||||||||||5|5| |||||||||||||||105|115|276|119| |10|Creditors
falling||due|||within|one|year||||||Group||Charity|| |||||||||||||||2020|2019|2020|2019| |||||||||||||||f'000|F'000|f.'000|'Z'000| ||Trade creditors|||||||||||||114|102|106|46| ||VAT|||||||||||||8|15|10|17| ||Other taxes &social|||security||||||||||17|18|17|18| ||Accruals and|deferred||||income||||||||116|45|114|36| ||Bank Loan|||||||||||||50||50|| ||Other creditors||||||||||||||22||22| |||||||||||||||305|202|297|139| ||Creditors: amounts||||falling due|||in more|than one year||||||||| ||Finance lease|||||||||||||48|61|48|61| ||Hire purchase|||||||||||||2|3|2|3| |||||||||||||||355|266|347|203| ## ## ## ||||E'000|F'000|E'000| |---|---|---|---|---|---| |Fund balances at 31 December 2020 are represented||by:|||| |Tangible
Current|fixed assets
assets||236
1,102|57|236
1,159| |Current|liabilities||(305)||(305)| ||||1,034|57|1,090| |Creditors|due after one year||(50)||(50)| |Total net|assets||984|57|1 040| ## |||2020|2019| |---|---|---|---| |||F'000|f'000| |Turnover||672|716| |Operating
costs||354
318|490
226| |Paid to charity under deed of covenant||318|226| |The assets and liabilities ofthe subsidiary|were:|2020
E'000|2019
f'000| |Current assets||326|289| |Current
liabilities||326|289| |Share capital|||| ## ## ## |s is|| |---|---| |2020|2019| |E'000|F'000| ||12| ## ## |Movement
in funds|(prior year)|||||| |---|---|---|---|---|---|---| |||At 1Jan|Income|Expenditure|Revaluation|At 31Dec| |||2019||||2019| |||L'000|L'000|L"000|L"000|E'000| |Restricted funds||||||| |Resilient Heritage|||26|(29)||| |Temple ofBacchus||23|37|(23)||37| |Car Park|||14|(16)||(2)| |Landscape
equipment|and vehicles|10|10|(3)||17| |Volunteering
Programme|||5|(2)||3| |Other landscape
donations|||4|2||3| |Charity restricted funds||34|96|(75)|3|58| |Unrestricted
funds||||||| |Designated - Painshill|Developments|150||(90)||60| |Designated - Temple|ofBacchus|25||||25| |General funds||408|1357|1459|29|335| |Unrestricted
funds||583|1,357|(1,549)|29|420| |Group total funds||617|1453|1624|33|478|