WILTON HOUSE TIIUST (Registered Charity Number 287144) ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31%1 DECEMBER 2021 www.wiltonhouse.com ## |~|Who we are and what we do|5| |---|---|---| |e|Chairman's
Statement|8| |~|Our Achievements
in 2021|11| |Visitors to Wilton House:||12| |~|Membership|16| |~|Schools Educational
Programme|18| |~|Student Group Visits|19| |~|Research Enquiries|20| |e|Hospitality|21| |The Preservation
ofthe Fabric ofWilton House:||22| |The Care ofthe Contents ofWilton House:||| |o|Painting
Restoration|23| |e|The Sculpture
Collection|25| |Wilton|Park|28| |Improving
Amenities for the Public||29| |The Objectives ofWilton House Trust||30| |Auditors'|Report|| |---|---|---| |Consolidated
Accounts||| |Legal and|Administrative|Information| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||NOTES|31.12.21|31.12.21|31.12.21|31.12.20| |---|---|---|---|---|---|---|---| |||||||Total|| |||||General|Designated|Unrestricted|| |Income from:||||Fund|Fund|Funds|| |Charitable
activities:|||||||| |Wilton House admissions
Estate numagement||||127,042
1,378,508||127,042
1,378,508|11
1,201,757| |Other trading activities||||21,862||21,862|43,620| |Investments||||136,410||136,410|129,159| |Other Income||||7,073||7,073|61,354| |Total||||1,670,895||1,670,895|1,435,901| |Expenditure
on:|||||||| |Raising funds|||||||| |Investment
managetnent
Trading
expenditure|fees|||80,004
23,897||80,004
23,897|76,795
25,807| |Charitable Activities|||5|1,543,154||1,543,154|1,270,885| |Total||||1,647,055||1,647,055|1,373,487| |Net income before investment||gains||23,840||23,840|62,414| |Net (losses)/gains
on investments||||1,584,860||1,584,860|537,179| |Net income/ (expenditure)||||1,608,700||1,608,700|599,593| |Net movement
in funds||||1,608,700||1,608,700|599,593| |Reconciliation offunds:|||||||| |Total funds brought
forward||||14,959,190|65,180|15,024,370|14,424,777| |Total funds carried forward||||f.16,567,890|f65,180|616,633,070|615,024,370| |||NOTES|31,12.21|31,12.21|31.12.20|31.12.20| |---|---|---|---|---|---|---| |FIXEDASSETS|||~Grou|Charltht|~Grou|tharftht| |Intangible
assets||8||||| |Tangible assets
Heritage assets
Investments||9
9
10|43,276
2,815,284
10,906,938|43,276
2,815,284
11,069,938|53,691
2,810,324
8,803,158|53,691
2,810,324
8,966,158| ||||13,765,498|13,928,498|11,667,173|11,830,173| |CURRENT ASSETS||||||| |Stock
Debtors
Cash at bank and in hand|||23,241
1,060,067
2,040,284|1,061,867
1,994,565|36,623
2,033,783
1,584,427|2,051,828
1,524,801| ||||3,123,592|3,056,432|3,654,833|3,576,629| |LIABILITIES||||||| |Creditors: Amounts
falling||||||| |due within one year||12|173,008|271,511|193,860|283,354| |NET CURRENT ASSETS|||2,950,584|2,784,921|3,460,973|3,293,275| |TOTAL ASSETSLESS||||||| |CURRENT LIABILITIES|||16,716,082|16,713,419|15,128,146|15,123,448| |CREDITORS: AMOUNTS FALLING||||||| |DUEAFTER MORE THAN|ONE YEAR|13|83,012|83,012|103,776|103,776| |TOTAL NET ASSETS|||f16,633,070|816,630,407|f.15,024,370|$15,019,672| |THE FUNDS OFTHE CHARITY||||||| |General Fund
Designated
Fund
Non-charitable
trading fund|||16,403,227
65,180
164,663|16,565,227
65,180|14,792,492
65,180
166,698|14,954,492
65,180| ||||616,633,070|816,630,407|$15,024,370|f15,019,672| |Approved
by the Trustees on|15'|||||| |||||2021||2020| |---|---|---|---|---|---|---| ||CASH FLOWS FROM OPERATING ACTIVITIES|||||| ||Net cash provided
by (used in)|||||| ||operating
activities|||1,624,$59||358,744| |CASH FLOWS FROM INVESTING ACTIVITIES||||||| ||Dividends
and interest fiom investments
Proceeds fiom the saicofproperty,|||136,410|129,159|| ||plant and equipment|||||| ||Proceeds from the disposal ofinvestments
Purchase ofinvestments
Purchase ofproperty,
plant and equipment|||1,327,551
(1,703,267)
(786,492)|2,345,724
(2,732,451)
(489,046)|| ||Net cash provided
by (used in)|||||| ||investing
activities|||(1,025,798)||(746,614)| |CHANGE IN CASH AND CASH EQUIVALENTS||||||| ||IN THE REPORTING PERIOD|||6599,061||(6387,870)| |Cash and cash equivalents
at the beginning||||||| ||ofthe reporting
period|||2,215,576||2,603,446| |Cash and cash equivalents
at the end||||||| ||ofthe reporting period|||2,814637||2,215,576| |NOTES TO THE CASH FLOW STATEMENT||||||| |a.|Reconciliation ofnet income/(expenditure)|||||| ||with net cash flow from operating||activities|2021||2020| ||Net income/(expenditure)
forthe reporting period|||||| ||(asper the statement offinancial
activities)
Adjustments
for:|||1,60$,700||599,593| ||Depreciation
and impairment
charges
(Gains)/losses
on investments
Dividends
and interest from investments
Interest paid|||791,947
(1,584,860)
(136,410)||500,621
(537,179)
(129,159)| ||(Profit)/loss
on disposal offixed assets|||||| ||(Increase)/decrease
in stock
(Increase)/decrease
in debtors
Increase/(decrease)
in creditors|||13,382
973,716
(41,616)||(20,318)
24,699
(79,513)| ||Net cash flow provided
by (used in) operating|activities||K1,624,859||6358,744| |The notes on pages 40to 50form part ofthese accounts.||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |funds are unrestricted
funds which|have been set asid|e by the trustees for pa|rticular
purposes.| |---|---|---|---| |INVESTMENT INCOME|||| |||2021|2020| |Investment
assets within the United Kingdom|||| |Quoted securities
Cash held as part ofthe investment|portfolio|134,309|123,384| |Bank interest||2,101|5,775| |Total investment
income||8136,410|8129,159| ## |||2021|2020| |---|---|---|---| |CJRSGrants
Other Government
Other|COVID Grant|7,000
73|36,354
25,000
0| |||7,073|61,354| |4. NET INCOME|FROM TRADING SUBSIDIARY||| |A summary ofthe company's|results is as follows:|results is as follows:|results is as follows:||| |---|---|---|---|---|---| |TURNOVER
Cost ofSales||||31.12.21
21,862
(17,029)|31.12.20
43,620
(1,466)| |Gross pmfit
Other operating
expenses||||4,833
(6,868)|42,154
(24,341)| |OPERATING PROFIT
Interest receivable and||||(2,035)|17,813| |similar income|||||| |PROFIT ON ORDINARY|||||| |ACTIVITIES BEFORE TAXATION
Tax on (loss)/profit
on ordinary
activities||||(2,035)|17,813| |PROFIT ON ORDINARY|||||| |ACTIVITIES AFTER TAXATION||||(2,035)|17,813| |Gift aid donation|||||(18,545)| |RETAINED (LOSS)/PROFIT||FOR|||| |FINANCIAL YEAR||||(2,035)|(732)| |Retained profit at la January 2021||||166,698|167,430| |RETAINED PROFIT AT31||DECEMBER2021||6164,663|6166,698| |The assets and liabilities ofthe||subsidiary|were as follows:-||| |||||31.12,21|31.12.20| |Fixed assets|||||| |Net current assets||||164,663|167,698| |Total net assets||||6164,663|6167,698| |Shareholders
funds||||f.166,643|6167,698| ## |CURRENT YEAR||||||| |---|---|---|---|---|---|---| ||Staff|1)utlreciation|Direct|~&u
ort|Total|Total| ||Costs||~Cos|Costs|2021|2020| |Raising funds||||||| |hlvestulent||||||| |Management
fees
Trading expeaditure|||80,004
23,897||80,004
23,897|76,795
25,807| ||||103,901||103,901|102,602| |Charitable
activities||||||| |Estate management
Wilton house|91,388|602,403|184,017|142,420|1,020,228|784,115| |admissions
Governance
costs|182,776|189,544|79,996
8,884|61,726|514,042
8,884|482,268
4,502| ||274,164|791,947|272,897|204,146|1,543,154|1,270,&85| ||f274,164|f791,947|f376,798|f204,146|11,647,055|f1,373,487| |PRIOR YEAR||||||| |Raising funds||||||| |Investment||||||| |Managemeat
fees
Trading expendinuu|3,305||76,795
22,502||76,795
25,807|| ||3,305||99,297||102,602|| |Charitable
activities||||||| |Estate management
Wilton house|95,105|383,698|181,226|124,086|7&4,115|| |admissions
Governance
costs|226,565|133,418|70,365
4,502|51,920|482,268
4,502|| ||321,670|517,116|256,093|176,006|1,270,885|| ||f324,975|f517,116|f355,390|f176,006|f1,373,487|| |Wages and salaries are analysed|as follows:-|||2021|2020|| |Gross wages and salaries
National insmauce costs
Pension contributions||||244,643
13,431
15,600|254,928
14,809
19,573|| |||||f273,674|f289,310|| ## ## ||||2021|2020| |---|---|---|---|---| |Management|fees||82,250|86,734| |Insurance
and
Other repairs|professional
costs
and maintenance||66,592
20,160|32,017
20,116| |Irrecoverable|VAT||16,175|16,893| |Woodland
expenses|||19,509|20,123| |Sundry expenses|||(540)|123| ||||$204,146|8176,006| |GOVERNANCE COSTS||||| ||||2021|2020| |Audit fees
Bank charges|||3,800
709|3,800
619| |Currency exchange|||4,375|83| ||||88,884|4,502| ## ||Goodwill| |---|---| |COST|| |At 1stJanuary 2021|149,005| |Additions|| |At 31stDecember 2021|149,005| |AMORTISATION|| |At 1stJanuary 2021|149,005| |Charge forthe year|| |At 31stDecember 2021|149,005| |NET BOOKVALUE|| |At 31stDecember 2021|60| |At 31a December 2020|$0| ## ||Total|Leasehold|Freehold| |---|---|---|---| |COST||Property|Property| |At 1st January 2021
Additions|11,762,135
786,492|6,002,259
558,216|5,759,876
228,276| |Disposals|||| |At 31stDecember 2021|12,548,627|6,560,475|5,988,152| |DEPRECIATION|||| |At 1stJanuary 2021
Charge for the year
Disposals|8,951,811
781,532|6,002,258
558,216|2,949,553
223,316| |At 31stDecember 2021|9,733,343|6,560,474|3,172,869| |Net book value|||| |At 31 December 2021|82,815,284||K2,815,283| |At 31"December 2020|$2,810,324||82,810,323| |OTHER TANGIBLE ASSETS|||| ||Plant tk|Equipment|| ||~Grou|Ch~rith|| |COST|||| |At 1st January 2021|403,984|402,061|| |Additions|||| |Disposals|||| |At 31stDecember 2020|403,984|402,061|| |DEPRECIATION|||| |At 1st January 2021|350,293|348,370|| |Charge for the year|10,415|10,415|| |Dispcsals|||| |At 31stDecember 2021|360,708|358,785|| |Net book value|||| |At 31stDecember 2021|fA3,276|643,276|| |At 31' December 2020|653,691|853,691|| ## ||Leasehold|Freehold|| |---|---|---|---| ||Property|Property|Total| |2017|||| |2018|||| |2019|||| |2020|||| |10.|FIXEDASSETINVESTMENTS|FIXEDASSETINVESTMENTS|FIXEDASSETINVESTMENTS||2021|||2020| |---|---|---|---|---|---|---|---|---| ||Invesnnents|comprise|||~Gran|Charih|~Grou|Charity| ||United Kingdom
Overseas
Cash held as part ofinvestment
Investmeot
in subsidiary|||portfolio|6,516,106
3,616,481
774,351|6,516,106
3,616,481
774,351
163,000|5,332,046
2,839,963
631,149|5,332,046
2,839,963
631,149
163,000| ||||||f10,906,938|f11,069,938|f8,803,158|f8,966,158| ||||||||Other quoted securities|| ||Market value|||||Total|UK|Overseas| ||At I January 2021
Additions
Unrealised
gain/(deficit)
Disposals||on revaluation|||f8,172,009
f1,703,267
f1,616,390
(1,359,079)|5,332,046
975,599
917,870
(709,409)|2,839,963
727,668
698,520
(649,670)| ||Market value|||||||| ||At31 December2021|||||f10,132,587|f6,516,106|f3,616,481| ||Historical eeet|||||||| ||At 31December|2021||||f6,531,830|f4,110,168|f2,421,662| ||Market value|||||||| ||At 31December|2020||||f8,172,009|f5,332,046|f2,839,963| ||Historica cost|||||||| ||At 31December|2020||||I6,157,903|f3.696,241|f2,461,662| |11.|DEBTORS||||2020||2020|| ||||||~Grou|Chahri|~u|Charitl| ||Due within one|year:||||||| ||Trade debtors
Other debtors
Accrued income and defened expenditure
Amounts
due from group undertakings||||983,470
73,781|985,270
73,781|35,328
1,935,809
57,173|35,328
1,953,854
57,173| ||Other tax and social security||||2,816|2,816|5,473|5,473| ||||||f1,060,067|f1,061,867|f2,033,783|f2,051,828| ## |CREDITORS: AMOUNTS FALLING
WITHIN ONE YEAR|DUE||||| |---|---|---|---|---|---| |||2021||2020|| |||~Gran|Charih|~Grou|Charitg| |Trade creditors
Amounts
owed to group undertakings
Accruals
and deferred income
Other creditors||22,851
99,182
132|22,851
100,000
97,817|34,254
96,124
133|34,254
100,000
85,751| |Other tax and social security
Rent received in advance||30,079
20,764|30,079
20,764|42,585
20,764|42,585
20,764| |||6173,008|8271,511|8193,860|f283,354| |The loans are interest-fee
and repayable|on demand.||||| |CREDITORS: AMOUNTS FALLING|DUE||||| |AFTER MORE THAN ONE YEAR|||||| |||2021||2020|| |||~Gran|~Chartt|G~rou|~Chari| |Rents received in advance||83,012|83,012|103,776|103,776| |||683,012|f83,012|f103,776|f103,776| |These amounts
fall due as noted below:-|||||| |Between one and two years
Between two and five years
More than five years||20,764
62,248|20,764
62,248|20,764
83,012|20,764
83,012| |||883,012|f83,012|f103,776|f103,776| ## ## |FUND MOVEMENTS
|||||| |---|---|---|---|---|---| |CURRENT YEAR|At|||Gains and|At| |UNRESTRICTED FUNDS|01-Jan-21|Income|Expenditure|Losses|31-Dec-21| |General Fund
Designated
Fund - property
repair fund|14,792,492
65,180|1,649,033|(1,623,158)|1,584,860|16,403,227
65,180| |Non charitable
Trading Fund|166,698|21,862|(23,443)||165,117| |Total Unrestricted
Funds|615,024,370|61,670,895|(1,646,601)|1,584,860|616,633,524| ## ||||||| |---|---|---|---|---|---| |PRIOR YEAR|At|||Gains and|At| |UNRESTRICTED FUNDS|01-Jan-20|Income|Expenditure|Losses|31-Dec-20| |General Fund
Designated
Fund - properly
repair fund|14,192,167
65,180|1,392,281|(1,329,135)|537,179|14,792,492
65,180| |Non charitable
Trading Fund|167,430|43,620|(44,352)||166,698| |Total Unrestricted
Funds|$14,424,777|SL435,901|(1,373,487)|537,179|$15,024,370| ## ## ||||NOTES|31.12.20|31.1220|31.12.20| |---|---|---|---|---|---|---| |||||||Total| |||||General|Designated|Unrestricted| |Income from:||||Fund|Fund|Funds| |Charitable
activities:||||||| |Wilton House admissions
Estate management||||11
1,201,757||II
1,201,757| |Other trading
activities||||43,620||43,620| |Investments||||129,159||129,159| |Other income||||61,354||61,354| |Total||||1,435,901||1,435,901| |Expenditure
on:||||||| |Raising
funds||||||| |Investment
management
Trading
expenditure|fees|||76,795
25,807||76,795
25,807| |Charitable
Acdvities|||4|1470,885||1,270,885| |Total||||1,373,487||1,373,487| |Net income before investment||gains||62,414||62,414| |Net (losses)/gains
on investments||||537,179||537,179| |Net income/ (expeaditure)||||599,593||599,593| |Net movement
in funds||||599,593||599,593| |RecoaciTiation offunds:||||||| |Total funds brought forward||||14,359,597|65,180|14,424,777| |Total funds carried forward||||814,959,190|665,180|815,024,370| ## ## ## ## ## ## ## ##