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2021-12-31-accounts

Report ofthe Trustees
Report of the Independent Auditors
Consolidated Statement of Financial Activities
Balance Sheets
Consolidated Statement ofCash Flows
Notes to the Consolidated Accounts

Year ended 31 De cember 2021
2021 2020
Unrestricted Restricted Total Total
Note E'000 F'000 f.'000 f'000
Income from:
Donations
and legacies		 77 415
Charitable
activities
Admission
and		 membership 1,190 1,190 906
Education 74 74 36
Events 177 177 56
Other trading
activities		 783 783 646
Investments 1 1 2
Other income 10 10 128
Total income 2,269 77 2,345 2,189
Expenditure
on:
Raising funds 131 131 189
Charitable
activities
Landscape 571 31 602 366
Visitor management 954 5 959 650
Education 80 15 95 88
Other trading
activities		 514 514 354
Total expenditure 2,251 51 2,301 1,647
Net expenditure
and net movement		 in funds before gains 5 18 26 44 542
Transfers
between		 funds (4)
Gain on revaluation of investments 47 47 20
Net movement
in		 funds 69 22 91 562
Reconciliation
of		 funds
Total funds brought forward 983 57 1,040 478
Total funds carried forward 12 1 052 79 1 131 1 040

Painshill
Park Trust Limited		 Company
number:		 01587910
Balance sheets
As at 31 December 2021
Group Charity
Note 2021 2020 2021 2020
F'000 6'000 f'000 6'000
Fixed assets
Tangible assets 237 236 237 236
Current assets
Stock 27 30
Debtors 115 105 518 276
Cash at bank and in hand 1,104 1,024 714 875
1,246 1,159 1,232 1,151
Liabilities
Creditors: amounts falling due within one year 10 (320) (305) (306) (297)
Net current assets 926 854 926 854
Total assets less current liabilities 1,163 1,090 1,163 1,090
Creditors: amounts falling due after more than one year 10 (32) (50) (32) (50)
Total net assets 1 131 1 040 1 131 1 040
Funds
Restricted
funds		 79 57 79 57
Unrestricted
funds:
Designated
funds		 567 571 567 571
General
contingency		 funds 485 412 485 412
Total unrestricted funds 1 052 983 1 052 983
Total charity funds 12 1 131 1 040 1 131 1 040

2021 2020
F'000 E'000
Net cash used in operating activities 108 706
Cash flows from investing activities
Interest and dividends 1
Purchase of equipment (29)
Net cash provided
by investing
activities		 28
Change
in cash		 and cash equivalents in the year 80 708
Cash and cash equivalents
brought		 forward 1,024 316
Cash and cash equivalents at the end ofthe year 1 104 1 024
2021 2020
Reconciliation of net income to net cash flow from operating activities f'000 f'000
Net movement
in funds		 91 562
Depreciation 28 26
Interest (1) (2)
(Increase)/decrease
in		 debtors (10) 10
(Decrease)/increase
in		 creditors (3) 89
Decrease /(increase)
in stock		 3 21
Net cash used in operating activities 108 706
2021 2020
F'000 6'000
Cash at bank 1,104 1,024

ear ended 31 December 2021
1 Accounting
policies
a) Statutory
information
Painshill
Park Trust Limited
is a charitable
company
limited		 by guarantee
registered
at Painshill		 Park, Portsmouth Rd,
Cobham,
Surrey, KT11 1JE.
b) Basis of preparation
The financial statements
have been prepared
in accordance
with Accounting
and Reporting
by		 Charities: Statement
of Recommended
Practice applicable
to charities
preparing		 their accounts
in accordance
with		 the Financia) Reporting
Standard
applicable
in the UK and Republic of Ireland (FRS 102)(effective
1 January 2019) —(Charities		 SORP FRS
102), and the Companies
Act 2006.
Assets and liabilities are initially recognised
at historical cost or transaction
value unless
otherwise
stated		 in the
relevant
accounting
policy note(s).
Group financial
statements
have been prepared
in respect		 of Painshill
Park Trust Limited
and		 its wholly owned trading
subsidiary,
Painshill
Enterprises
Limited.
c) Public benefit entity
Painshill
Park Trust meets the definition
of a public benefit		 entity under FRS 102.
d) Going concern and key judgements
The Trustees
consider there are no material
uncertainties		 about the Charity's
ability to continue		 as a going concern.
There are no significant
areas ofjudgement
that affect the		 charity's
accounts.
In the view of the trustees,
no assumptions
concerning
the		 future or estimation
uncertainty
affecting assets or
liabilities as the balance sheet date are likely to result
in a		 material
adjustment
to their carrying		 amounts in the next
financial year.
e) Income
Income is recognised
once the charity has entitlement
to the funds,
it is probable
that income		 will be received and the
amount
can be measured
reliably.
The impact of the Covid-19 pandemic
on the activities of the Charity and its financial
position		 have been detailed in
the Report of the Trustees that form part ofthese financial statements,
Due to the actions taken		 by the Trustees
during
the course ofthe financial
year the impact on the financial
position
and the ability of the		 Charity to continue to
operate for at least twelve
months
following
the date of approval
ofthese financial
statements		 has been mitigated and
minimised.
Income from other trading
activities
is recognised
as the related goods are provided.
Investment
income
is recognised
when receivable
and the		 amounts
can be measured
reliably.
f) Expenditure
Expenditure
is recognised
once there
is a legal or constructive
obligation
to make a payment		 to a third
party,		 it is
probable
that settlement
will be required
and the amount
of the obligation
can be measured
reliably.
Expenditure		 is
classified
under the following
activity headings:
Raising
funds includes
direct marketing
costs and their		 associated
support costs.
Charitable
activities comprise
direct costs of maintaining		 and restoring
the landscape,
visitor		 services and
education
activities
undertaken
to further
the purposes		 of the charity and their associated
support costs.
Expenditure
is recoqnised
on an accruals basis as a liability
is incurred,
inclusive of VAT that		 cannot be recovered.
g) Redundancy
and termination
payments
Redundancy
and termination
payments
are accounted
for		 when
the termination
has been communicated		 to the
employee.
The total amount
for the reporting
period and the nature
of the payment
are disclosed
in the		 staff costs
note.

r ended 31 December 2021 ended 31 December 2021
2 Analysis
ofgroup income
Note 11
Unrestricted Restricted Total 2021 Total 2020
E'000 E'000 E'000 E'000
Donations,
legacies and		 grants
National
Lottery Heritage		 Fund 26
National
Lottery Heritage		 Fund 250
National
Lottery Community		 Fund 10
Alan Richard
Dewberry		 8 8
Aslackby Trust
Cargill Inc.
Cargill PLC		 10
7
4		 10
7
4		 9
5
Community
Foundation		 for Surrey 10 10 5
Garfield Weston
Foundation		 50
His Honour Christopher Critchlow DL
John Dean
Kilroot Foundation 10
Lady Alexander
ofWeedon		 17 17
Richard
Reay-Smith
Stanley Smith (UK) Horticultural
Trust
The John Coates Charitable
Trust		 10
Other donations
including		 Gift Aid 17 23 40 35
Charitable
activities
Admission 816 816 614
Membership 374 374 292
Education 74 74 36
Events 145 145 45
Other park income 32 32 11
Other trading
activities
Tearoom 525 525 365
Retail 163 163 130
Commercial
events and		 filming 55 55 93
Wedding
Venue
hire		 24
16		 24
16		 58
Investment
income
Bank interest
Other income
Job Retention
Scheme		 10 84
Insurance
claims		 43
Other income 1
Total income 2 269 77 2 345 2 189

Staff costs
2021 2020
K'000 E'000
Salaries and wages
Casual staff salary costs		 737
69		 627
51
Social security costs 61 44
Employer's contribution to defined contribution pension scheme 15 13
882 735
2021 2020
No. No,
2021 2020
No. No.
Raising funds 1 1
Landscape
Visitor management		 6
12		 5
13
Education 2 2
Support 5 5
Governance 1 1
Total 27 27
Net expenditure for the year
2021 2020
This is stated after charging: F'000 E'000
Auditor's
remuneration		 6 5
Operating
lease
Depreciation		 payments 17
28		 17
26

Motor Landscape Office Tea room Tea room Works of
vehicles equipment equipment equipment Art Total
F'000 F.'000 F'000 F'000 E'000 F'000
Cost
At the start of the year 80 29 33 120 60 322
Additions 21 8 29
Disposals 10 3 13
At the end of the year 91 34 33 60 338
Accumulated depreciation
At the start of the year 26 10 33 17 86
Charge for year 7 9 12 28
Depreciation
on disposals		 ~10 3 13
At the end of the year 23 16 33 29 101
Net book value
At the end of the year 68 18 91 60 237
At the start of the year 54 19 103 60 236
8 Investments
in trading		 subsidiaries Group Charity
Name of subsidiary 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 13 for further details.
9 Debtors due within one year Group Charity
2021 2020 2021 2020
6'000 E'000 F'000 F'000
Trade debtors 13 2 13 1
Prepayments and accrued income 97 98 97 98
Current accounts
with		 trading subsidiaries 403 172
Other debtors 5 5
115 105 518 276
10 Creditors
falling due		 within one year Group Charity
2021 2020 2021 2020
F'000 F'000 F'000 F'000
Trade creditors 96 114 87 106
VAT 33 8 33 10
Other taxes 8 social security 20 17 20 17
Accruals
and		 deferred income 125 116 119 114
Bank Loan 45 50 45 50
Hire purchase 1 2 1 2
Other creditors
321 307 306 299
Creditors: amounts falling due in more than one year
Finance lease 32 48 32 48
353 355 338 347

Analysis of group net assets between
funds
Unrestricted Restricted Total
funds funds funds
F.'000 F'000 F'000
Fund balances at 31 December 2021 are represented by:
Tangible fixed assets 237 237
Current assets 1,167 79 1,246
Current liabilities (320) (320)
1,084 79 1,163
Creditors due after one year (32) (32)
Total net assets 1 052 79 1 131

2021 2020
F'000 F'000
Turnover 793 672
Operating costs 514 354
279 318
Paid to charity under deed of covenant 279 318
The assets and liabilities of the subsidiary were: 2021 2020
F'000 F'000
Current assets 294 326
Current liabilities 294 326
Share capital

Movement
in funds		 (p ri or year)
At 1Jan Income Expenditure Revaluation At 31Dec
2020 2020
L"000 E'000 E'000 E'000 8'000
Restricted funds
Resilient Heritage
Fund		 26 (39) 13
Temple ofBacchus 37 (1) 36
Car Park (2) (1)
Landscape
equipment		 4 vehicles 17 (5) 12
Cargill PLC 4
Volunteering
Programme		 (3)
National
Lottery Heritage		 Fund 250 (250)
National
Lottery Community		 Fund 10 (10)
Community
Foundation		 for Surrey 5 (5)
Landscape
development		 10 (10)
Other landscape
donations		 6 (3)
Charity restricted
funds		 58 312 (326) 13 57
Unrestricted
funds
Designated
—Painshill		 Developments 60 (14) 500 546
Designated
—Temple ofBacchus		 25 25
General funds 335 1,877 (1,307) (493) 412
Unrestricted
funds		 420 1,877 (1,32 1) 983
Group total funds 478 2,189 1,647 20 1,040