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2022-12-31-accounts

WILTON HOUSE TFIUST (Registered Charity Number 287144) ANNUAL REPOKT AND ACCOUNTS YEAtL INDED 31SI DICEMBER 2022 www.wiltonhouse.com-;

~
Who we are and what we do		 ~
Who we are and what we do		 6
~
Chairman's
Statement		 8
~
Our Achievements		 in 2022 10
Visitors to Wilton House: 11
~
Membership		 15
~ Student Visits &Research Enquiries 17
~
Hospitality		 18
The Preservation
ofthe Fabric of Wilton House:		 20
The Care ofthe Contents ofWilton House: 23
~
Painting
Restoration		 24
~ The Sculpture
Collection		 25
~
Wilton Books		 26
Wilton Park 27
Improving
Amenities
for		 the Public 29
The Objectives ofWilton House Trust 30
Auditors'
Report		 34
Consolidated
Accounts		 37
Legal and Administrative Information 51

NOTES 31.12.22 31.12.22 31.12.22 31.12.22 31.12.21
Total
General Designated Unrestricted
Fund Fund Funds
Income from:
Charitable
activities:
Wilton House admissions 275,252 275,252 127,042
Estate management 1,992,022 1,992,022 1,378,508
Other trading activities 58,133 58,133 21,862
Investments 156,019 156,019 136,410
Other Income 7,073
Total 2,481,426 2,481,426 1,670,895
Expenditure
on:
Raising funds
Investment
management		 fees 90,791 90,791 80,004
Trading expenditure 38,430 38,430 23,897
Charitable Activities 1,360,414 1,360,414 1,543,154
Total 1,489,635 I 489635 1647 055
Net income before investment gains 991,791 991,791 23,840
Net (losses)/gains on inveslments (1,120,030) (1,120,030) 1,584,860
Net income/ (expenditure) (128,239) (128,239) 1,608,700
Net movement
in		 funds (128,239) (128239) I 608700
Reconciliation of funds:
Total funds brought
forward		 16,567,890 65,180 16,633,070 15,024,370
Total funds carried forward f16,439,651 f65,180 816,504,831 616,633,070
16,504,831
There have been no acquisitions or discontinued operations during the current orpreceding year.

NOTES 31.12.22 31.12.22 31.12,21 31.12,21
~Grou tharitg ~Grou ~tharit
FIXEDASSETS
Intangible
assets		 8
Tangible assets 9 35,159 35,159 43,276 43,276
Heritage assets 9 3,520,443 3,520,443 2,815,284 2,815,284
Investments 10 9,011,036 9,174,036 10,906,938 11,069,938
12,566,638 12,729,638 13,765,498 13,928,498
CURRENT ASSETS
Stock 19,792 23,241
Debtors 112,925 132,992 1,060,067 1,061,867
Cash at bank and in hand 4,183,946 4,117,676 2,040,284 1,994,565
4,316,663 4,250,668 3,123,592 3,056,432
LIABILITIES
Creditors: Amounts
falling
due within one year 12 316,222 415,243 173,008 271,511
NET CURRENT ASSETS 4,000,441 3,835,425 2,950,584 2,784,921
TOTAL ASSETSLESS
CURRENT LIABILITIES 16,567,079 16,565,063 16,716,082 16,713,419
CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR 13 62,248 62,248 83,012 83,012
TOTAL NET ASSETS f,l6,504,831 616,502,815 816,633,070 %16,630,407
THE FUNDS OFTHE CHARITY
General Fund 16,275,635 16,437,635 16,403,227 16,565,227
Designated
Fund		 65,180 65,180 65,180 65,180
Non-charitable
trading		 fund 164,016 164,663
%16,504,831 816,502,815 816,633,070 EI6,630,407
Appmved
by the Trustees		 on
and signed on their behalf by:

2022 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided
by (used in)
operating
activities		 1,962,607 1,624,859
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends
and interest from investments		 156,019 136,410
Proceeds fiom the sale ofproperty,
plant and equipment
Proceeds &om the disposal ofinvestments 4,884,725 1,327,551
Purchase ofinvestments (3,758,658) (1,703,267)
Purchase ofproperty,
plant and equipment		 (1,239,269) (786,492)
Net cash provided
by (used in)
investing
activities		 42,817 (1,025,798)
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD K2,005,424 f599,061
Cash and cash equivalents
at the beginning
ofthe reporting
period		 2,814,637 2,215,576
Cash and cash equivalents
atthe end
ofthe reporting
period		 4,820 061 2,814,637
NOTES TO THE CASH FLOW STATEMENT
a. Reconciliation ofnet income/(expenditure)
with net cash flow from operating activities 2022 2021
Net income/(expenditure)
for the reporting		 period
(as per the statement offinancial activities) (128,239) 1,608,700
Adjustments
for:
Depreciation
and impairtnent
charges		 542,227 791,947
(Gains)/tosses
on investments		 631,599 (1,584,860)
Dividends
and interest fiom investments		 (156,019) (136,410)
(Increase)/decrease
in stock		 3,449 13,382
(increase)/decrease
in debtors		 947,142 973,716
Increase/(decrease)
in creditors		 122,448 (41,616)
Net cash flow provided
by (used in) operating		 activities 61,962,607 f,1,624,859

2022 2021
Investment assets within the United Kingdom
Quoted securities 143,234 134,309
Cash held as part ofthe investment portfolio
Bank interest 12,785 2,101
Total investment income 6156,019 6136,410

A summary ofthe company's results is as results is as follows:
31.12.22 31.12.21
TURNOVER 58,133 21,862
Cost ofSales (22,979) (17,029)
Gross profit 35,154 4,833
Other operating
expenses		 (15,451) (6,868)
OPERATING PROFIT 19,703 (2,035)
Interest receivable and
similar income
PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION 19,703 (2,035)
Tax on (loss)/profit
on ordinary		 activities
PROFIT ON ORDINARY
ACTIVITIES AFTER TAXATION 19,703 (2,035)
Gift aid donation (20,350)
RETAIN)ED (LOSS)/PROFIT FOR
FINANCIAL YEAR (647) (2,035)
Retained profit at 1
January		 2022 164,663 166,698
RETAINED PROFIT AT 31 DECEMBER2022 f,164,016 6164,663
The assets and liabilities ofthe subsidiary were as follows:-
31.12.22 31.12.21
Fixed assets
Net current assets 165,016 165,663
Total net assets 8165,016 $165,663
Shareholders
funds		 8165,016 0165,663
5. ANALYSIS OP RESOURCES EXPENDED OP RESOURCES EXPENDED OP RESOURCES EXPENDED OP RESOURCES EXPENDED
CURRENT YEAR
Staff D~eeciation Direct ~Su
ort		 Total Total
Costs Costs Costs 2021 2021
Raising funds
Inveslment
Management fees 90,791 90,791 80,004
Trading expenditure 38,430 38,430 23,897
129,221 129,221 103,901
Charitable
activities
Estate management 100,260 405,500 187,607 152,503 845,870 1,020228
Wilton house
admissions 200,521 135,978 74,430 66,202 477,131 514,042
Governance costs 37,413 37,413 8,884
300,781 541,478 299,450 218,705 1,360,414 1,543,154
f300,781 f541,478 8428,671 f218,705 f1,489,635 f1,647,055
PRIOR YEAR
Raising funds
Investment
Management fees 80,004 80,004
Trading
expenditure		 23,897 23,897
103,901 103,901
Charitable
activities
Estate management 91,388 602,403 184,017 142,420 1,020,228
Wilton house
admissions 182,776 189,544 79,996 61,726 514,042
Governance costs 8,S84 8,884
274,164 791,947 272,897 204,146 1,543,154
f274,164 f791,947 f376,798 f204,146 f1,647,055
Wages aud salaries sre analysed as follows:- 2022 2021
Gross wages snd salaries 268,752 244,643
Natioasl insurance costs 15,586 13,431
Pension oontribuuons 16,443 15,600
f300,781 f273,674

2022 2021
Management fees 82,604 82,250
Insurance
and		 professional costs 88,952 66,592
Other repairs and maintenance 20,603 20,160
Irrecoverable VAT 6,447 16,175
Woodland
expenses		 25,013 19,509
Sundry expenses (4,914) (540)
6218,705 6204,146
GOVERNANCE COSTS
2022 2021
Audit fees 4,000 3,800
Bank charges 1,005 709
Legal tk Professional fees 2,000
Currency exchange 30,408 4,375
637,413 6 8,884

Goodwill
COST
At 1stJanuary 2022 149,005
Additions
At 31stDecember 2022 149,005
AMORTISATION
At 1stJanuary 2022 149,005
Charge for the year
At 31stDecember 2022 149,005
NET BOOKVALUE
At 31stDecember 2022 60
At 31 December2021 60

Total Leasehold Freehold
Property Property
COST
At 1stJanuary 2022 12,548,627 6,560,475 5,988,152
Additions 1,239,269 400,567 838,702
Dispcsals
At 31stDecember 2022 13,787,896 6,961,042 6,826,854
DEPRECIATION
At 1stJanuary 2022 9,733,343 6,560,474 3,172,869
Charge for the year 534,110 400,567 133,543
Disposals
At 31st December 2022 10,267,453 6,961,041 3,306,412
Net book value
At 31 December 2022 63,520,443 63,520,442
At 31stDecember 2021 82,815,284 K2,815,283

Plant gr Equipment
~Gran Charity
COST
At 1stJanuary 2022 403,984 402,061
Additions
Dispcsals
At 31stDecember 2022 403,984 402,061
DEPRECIATION
At 1stJanuary 2022 360,708 358,785
Charge forthe year 8,117 8,117
Disposals
At 31stDecember 2022 368,825 366,902
Net book value
At 31stDecember 2022 f35,159 f35,159
At 31' December 2021 f43,276 843,276

Leasehold Freehold
Property Property Total
2018 426,607 131,340 557,947
2019 349,696 124,836 474,532
2020 370,636 116,861 487,497
2021 558,216 223,316 781,532
2022 400,567 133,543 534,110
Leasehold Freehold
Property Property Total
2018
2019
2020
10. FIXEDASSETINVESTMENTS 2022 2021
~Grou Charith ~Grou ~Charit
Investments
comprise
United Kingdom 5,122,809 5,122,809 6,516,106 6,516,106
Overseas 3,252,112 3,252,112 3,616,481 3,616,481
Cash held as part ofinvestment portfolio 636,115 636,115 774,351 774,351
Investment
in subsidiary		 163,000 163,000
f9,011,036 f9,174,036 f10,906,938 f11,069,938
Other quoted securities
Total UK Overseas
Market value
At 1Jauuary 2022 f10,132,587 6,516,106 3,616,481
Additions f3,758,658 3,069,910 688,748
Unreal ised gain/ (deficit) on revaluation (631,599) (646,536) 14,937
Disposals (4,884,725) (3,816,671) (1,068,054)
Market value
At 31December 2022 f8,374,921 f5,122,809 f3,252,112
Historical cost
At 31December 2022 f6,855,795 f4,300,679 f2,555,116
Market value
At 31December 2021 f10,132,587 f6,516,106 f3,616,481
Historical cost
At 31December 2021 f6,531,830 f4,110,168 f2,421,662
11. DEBTORS 2022 2021
~Grou Cbaritg ~Grou Charity
Due within one year:
Trade debtors
Other debtors 56,164 57,349 983,470 985,270
Accrued income and deferred expenditure 53,965 72,847 73,781 73,781
Amounts
due I'rom group undertakings
Other tax and social security 2,796 2,796 2,816 2,816
f112,925 f132,992 f1,060,067 f.1,061,867

CREDITORS: AMOUNT
WITHIN ONE YEAR		 S FALLING DUE
2022 2021
~Grou Charity ~Grou C~ritZ
Trade creditors 24,692 24,692 22,851 22,851
Amounts
owed to group		 undertakings 100,000 100,000
Accrcals and deferred income 199,367 198,534 99,182 97,817
Other creditors 146 132
Other tax and social security 71,253 71,253 30,079 30,079
Rent received in advance 20,764 20,764 20,764 20,764
6316,222 f415,243 6173,008 6271,511
The loans are interest-tree and repayable on demand.
CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
2022 2021
~Gros Charity ~Grou ~Charit
Rents received in advance 62,248 62,248 83,012 83,012
%62,248 f62,248 f83,012 f83,012
These amounts
fall due		 as noted below:-
Between one and two years 20,764 20,764 20,764 20,764
Between two and five years 41,484 41,484 62,248 62,248
More than five years
f62,248 662,248 f83,012 683,012

14. FUND MOVEMENTS FUND MOVEMENTS
CURRENT YEAR At Gains and At
01-Jan-22 Income Expenditure Losses 31-Dec-22
UNRESTRICTED FUNDS
General Fund 16,403,227 2,423,293 (1,430,855) (1,120,030) 16,275,635
Designated
Fund - property		 65,180 65,180
repair fund
Non charitable
Trading Fund		 164,663 58,133 (58,780) 164,016
Total Unrestricted Funds f16,633,070 82,481,426 (1,489,635) (1,120,030) f16,504,831
PRIOR YEAR At Gains and At
01-Jan-21 Income Expenditure Losses 31-Dec-21
UNRESTRICTED FUNDS
General Fund 14,792,492 1,649,033 (1,623,158) 1,584,860 16,403,227
Designated
Fund -		 property 65,180 65,180
repair fund
Non charitable
Trading Fund		 166,698 21,862 (23,897) 164,663
Total Unrestricted Funds 615,024,370 81,670,895 (1,647,055) 1,584,860 816,633,070

NOTES 31.12.21 31.12.21 31.12.21
Total
General Designated Unrestricted
Fund Fund Funds
Income from:
Charitable
activities:
Wilton House admissions 127,042 127,042
Estate management 1,378,508 1,378,508
Other trading activities 21,862 21,862
Investments 136,410 136,410
Other income 7,073 7,073
Total 1,670,895 1,670,895
Expenditure
on:
Raising funds
Investment
management		 fees 80,004 80,004
Trading expenditure 23,897 23,897
Charitable Activities 4 1,543,154 1,543,154
Total 1,647,055 1,647,055
Net income before investment gains 23,840 23,840
Net (losses)/gains on investments 1,584,860 1,584,860
Net income/ (expenditure) 1,608,700 1,608,700
Net movement
in		 funds 1,608,700 1,608,700
Reconciliation of funds:
Total funds brought
forward		 14,959,190 65,180 15,024,370
Total funds carried forward f16,567,890 f65,1SO KI6,633,070