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2023-12-31-accounts

WILTON HOUSE 4r,. TRUST (Registered Charity Number 287144) l&, ANNUAL IIEPOKT AND ACCOUNTS YEAR ENDED 31 ' DECEMBIR 2023 www.wiltonhouse.com

~ Who we are and what we do Who we are and what we do
~ Chairman's
Statement
~ Our Achievements in 2023
Visitors to Wilton House: 10
~ Membership 12
~ Student Visits & Research Enquiries 14
~ Hospitality 16
The Repair and Preservation
of Buildings		 within Wilton Park: 18
The Care ofthe Contents ofWilton House:
~ Stained Glass 22
~ Painting
Restoration		 23
~ 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 31.12.23 31.12.23 31.12.23 31.12.22
Total
General Designated Unrestricted
Fund Fund Funds
Income from:
Charitable
activities:
Wilton House admissions 265,319 265,319 275,252
Estate management 1,465,602 1,465,602 1,992,022
Other trading activities 44,850 44,850 58,133
Investments 256,404 256,404 156,019
Other Income 624 624
Total 2,032,799 2,032,799 2,481,426
Expenditure
on:
Raising funds
Investment
management		 fees 100,398 100,398 90,791
Trading
expenditure		 43,387 43,387 38,430
Charitable
Activities		 1,675,738 1,675,738 1,360,414
Total 1,819,523 1,819,523 1,489,635
Net income before investtnent gains 213,276 213,276 991,791
Net (losses)/gains on investments 454,547 454,547 (1,120,030)
Net income/ (expenditure) 667,823 667,823 (128,239)
Net movement
in		 funds 667,823 667,823 (128,239)
Reenact)tattoo
of		 funds:
Total funds brought
forward		 16,439,651 65,180 16,504,831 16,633,070
Total funds carried forward f17,107,474 f65,180 f17,172,654 f16,504,831

NOTES 31.12.23 31.12.23 31.12.22 31.12.22
0~ron ~Charit ~6rnu ~Charit
FIXEDASSETS
Intangible
assets		 8
Tangible assets 9 28,805 28,805 35,159 35,159
Heritage assets 9 3,857,108 3,857,109 3,520,443 3,520,443
Investments 10 12,239,283 12,402,283 9,011,036 9,174,036
16,125,196 16,288,197 12,566,638 12,729,638
CURRENT ASSETS
Stock 15,328 19,792
Debtors 108,744 110,953 112,925 132,992
Cash at bank and in hand 1,202,956 1,150,434 4,183,946 4,117,676
1,327,028 1,261,387 4,316,663 4,250,668
LIABILITIES
Creditors: Amounts
falling
due within one year 12 238,086 336,198 316,222 415,243
NET CURRENT ASSETS 1,088,942 925,189 4,000,441 3,835,425
TOTAL ASSETSLESS
CURRENT LIABILITIES 17,214,138 17,213,386 16,567,079 16,565,063
CREDITORS: AMOUNTS FALLING
DUK AFTER MORE THAN ONE YEAR 13 41,484 41,484 62,248 62448
TOTAL NET ASSETS f17,172,654 617,17L902 f16,504,831 516,502,815
THE FUNDS OF THK CHARITY
General Fund 16,944,721 17,106,722 16,275,635 16,437,635
Designated
Fund		 65,180 65,180 65,180 65,180
Non-charitable
trading fund		 162,753 164,016
f17,172,654 817,17L902 616,504,831 f16,502,815
Approved by the Trustees on
and signed on their behalf by:
I.Vcr)~

2023 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided
by (used in)
operating
activities		 492,102 1,962,607
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends
and interest trom investments		 256,404 156,019
Proceeds from the sale ofproperty,
plant and equipment
Proceeds from the disposal ofinvestments 1,817,680 4,884,725
Purchase ofinvesunents (2,979,463) (3,758,658)
Purchase ofproperty,
plant and equipment		 (1,134,702) (1,239,269)
Net cash provided by (used in)
investing
acbvities		 (2,040,081) 42,817
CHANGE IN CASH AND CASH EQUIVALENTS
IN THK REPORTING PERIOD (61,547,979) 82,005,424
Cash and cash equivalents
at the beginning
ofthe repordng
period		 4,820,061 2,814,637
Cash and cash equivalents
at the end
ofthe reporting
period		 3272 082 I,II20 061
NOTES TO THE CASH FLOW STATEMENT
a. Reconciliation
ofnet income/(expenditure)
with net cash flow from operating activities 2023 2022
Net income/(expenditure)
for the reporting		 period
(asper the statement offinancial activities) 667,823 (128,239)
Adjustments
for:
Depreciation
snd impairment
charges		 804,391 542,227
(Gains)/losses
on investments		 (633,453) 631,599
Dividends
and interest from investments		 (256,404) (156,019)
(increase)/decrease
in stack		 4,464 3,449
(Increase)/decrease
in debtors		 4,181 947,142
Increase/(decrease)
in creditors		 (98,900) 122,448
Net cash flow provided by (used in) operating activities f492,102 61,962,607
The notes on pages 40to 50 form part ofthese accounts.

2023 2022
Investment assets within the United Kingdom
Quoted securines 199,186 143,234
Cash held as part ofthe investment portfolio
Bank interest 57,218 12,785
Total investment income f256,404 6156,019

A summary ofthe company's
re		 sults is as follows;
31.12.23 31.12.22
TURNOVER 44,850 58,133
Cost ofSales (25,698) (22,979)
Gross profit 19,152 35,154
Other operating
expenses		 (17,689) (15,451)
OPERATING PROFIT 1,463 19,703
Interest receivable
and
similar income
PROFIT ON ORDINARY
ACTIVITIES BEFORETAXATION 1,463 19,703
Tax on (loss)/profit
on ordinary		 activities
PROFIT ON ORDINARY
ACTIVITIES AFTER TAXATION 1,463 19,703
Gifi aid donation (2,726) (20,350)
RETAINED (LOSS)/PROFIT FOR
FINANCIAL YEAR (1,263) (647)
Retained profit at 1"January 2023 164,016 164,663
RETAINED PROFIT AT 31 DECEMBER 2023 5162,753 6164,016
The assets and liabilities ofthe subsidiary were as follows:
31.12.23 31.12.22
Fixed assets
Net current assets 163,753 165,016
Total net assets 6163,753 6165,016
Shareholders
funds		 6163,753 8165,016

CURRENT YEA R
Staff D~erectation Direct ~Su
ort		 Total Total
Costs Costs Costs 2023 2022
Raising funds
Investment
Management fees 100,398 100,398 90,791
Trading
expenditure		 43,387 43,387 38,430
143,785 143,785 129,221
Charitable
activities
Estate management 110,220 525,343 216,039 177,403 1,029,005 845,870
Wilton house
admissions 220,439 279,048 78,576 54,417 632,480 477,131
Governance costs 14,253 14,253 37,413
330,659 804,391 308,868 231,820 1,675,738 1,360,414
f330,659 f804,391 f452,653 f231,820 f1,819,523 f1,489,635
PRIOR YEAR
Raising funds
Investmeut
Management fees 90,791 90,791
Trading expenditure 38,430 38,430
129,221 129,221
Charitable
activities
Estate management 100,260 405,500 187,607 182,911 876,278
Wdton house
admissions 200,521 135,978 74,430 66,202 477,131
Governance costs 7,005 7,005
300,781 541,478 269,042 249,113 1,360,414
f300,781 f541,478 f398,263 f249,113 f1,4S9,635
Wages aud salaries are analysed as follows: 2023 2022
Gross wages and salaries 297,277 268,752
National
insurance		 costs 15,998 15,586
Peoston contributions 17,384 16,443
f330,659 f300,781

2023 2022
Management fees 78,245 82,604
Insurance
and		 professional costs 55,200 88,952
Other repairs and maintenance 20,649 20,603
Irrecoverable VAT 9,156 6,447
Woodland
expenses		 11,266 25,013
Sundry expenses (4,914)
Currency exchange 57,304 30,408
f231,820 f249, 113
7. GOVERNANCE
COSTS
2023 2022
Audit fees 4,500 4,000
Bank oharges 873 1,005
Legal k Professional fees 8,880 2,000
614,253 I7,005

Goodwill
COST
At 1stJanuary 2023 149,005
Additions
At 31stDecember 2023 149,005
AMORTISATION
At 1stJanuary 2023 149,005
Charge for the year
At 31stDecember 2023 149,005
NET BOOKVALUE
At 31stDecember 2023 60
At 31' December 2022 80

HERITAGE ASSETS
Leasehold Leasehold Freehold
Total Property Property Property
Improvements Additions
COST
At 1stJaouary 2023 13,787,896 6,961,042 705,159 6,121,695
Additions 1,134,702 490,863 357,309 286,530
Disposals
At 31stDecember 2023 14,922,598 7,451,905 1,062,468 6,408,225
DEPRECIATION
At 1stJanuary 2023 10,267,453 6,961,041 3,306,412
Charge for the year 798,037 490,863 20,644 286,530
Disposals
At 31stDecember 2023 11,065,490 7,451,904 20,644 3,592,942
Net book value
At 31stDtx:ember 2023 f3,857,108 I1,041,824 62,815483
At 31stDecember 2022 I3,520,443 I705,159 62,815,283

Plant dt Equtpmeut
~Gran Charith
COST
At 1st January 2023 403,984 402,061
Addknons
Dtsposals
At 31stDecember 2023 403,984 402,061
DEPRECIATION
At 1stJanuary 2023 368,825 366,902
Charge for the year 6,354 6,354
Disposals
At 31stDecember 2023 375,179 373,256
Net book value
At 31stDecember 2023 f28,805 f28,805
At 31o December 2022 635,159 f35,159

The net book value at 31a December 2023 represents tangible fixed assets used for:-
Total
Leasehold		 Leasehold Iireehold Plant dr
Property Property Property Equipment
Improvements Additions
Tourism 736,371 707,565 28,805
Estate 3,149,543 1,041,825 2,107,718
f3,885,914 f.1,041,825 f2,815,283 628,805
Leasehold Freehold
Property Property Total
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
2023 490,863 286,530 777,393
10. FIXEDASSETINVESTMENTS FIXEDASSETINVESTMENTS 2023 2022
~Grou Chadth'. ~Gran Charith
Investments comprise
United Kingdom 5,046,715 5,046,715 5,122,809 5,122,809
Overseas 5,123,442 5,123,442 3,252,112 3,252,112
Cash held as part ofinvestment portfolio 2,069,126 2,069,126 636,115 636,115
Investment
m subsidiary		 163,000 163,000
612,239,283 612,402,283 f9,011,036 69,174,036
Other quoted securities
Total UK Overseas
Market value
At 1 January 2023 f8,374,921 5,122,809 3,252,112
Additions f2,979,463 673,584 2,305,879
Unrealised
gain/		 (deficit) on revaluation 637,153 241,527 395,626
Disposals (1,817,680) (987,505) (830,175)
Market value
At 31December 2023 610,173,857 65,050,415 65,123,442
Historical cost
At 31December 2023 56,855,795 f3,879,235 55,034,428
Market value
At 31December 2022 I8,374,921 65,122,809 53,252,112
Historical cost
At 31December 2022 f6,855,795 84,300,679 62,555,116
11. DEBTORS 2023 2022
~Grou Charitl GrotIGI Charity
Due within
one		 year:
Trade debtors
Other debtors 36,481 38,690 56,164 57,349
Accrued income and deferred expenditure 58,350 58,350 53,965 72,847
Amounts
due from group undertakings
Other tax and social secunty 13,913 13,913 2,796 2,796
f.108,744 6110,953 f112,925 f132,992

WITHIN ONE YEAR
2023 2022
G«rou Charitl «Grou Charity
Trade creditors 7,010 6,440 24,692 24,692
Amounts owed to group undertakings 100,000 100,000
Accruals and deferred income 210,164 208,994 199,367 198,534
Other creditors 148 146
Other tax and social security 71,253 71,253
Rent received in advance 20,764 20,764 20,764 20,764
f238,086 5336,198 5316,222 f415,243

EDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
2023 2022
«Grou Ch~dtg «Grou Charity
Rents received in advance 41,484 41,484 62,248 62,248
f41,484 f41,484 I62,248 f62,248
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 20,720 20,720 41,484 41,484
More than five years
64L484 64L484 f62,248 f62,248
14. FUND MOVEMENTS FUND MOVEMENTS
CURRENT YEAR At Gains and At
01-Jan-23 Income Expenditure Lasses 31-Dec-23
UNRESTRICTED FUNDS
General Fund 16,275,635 1,987,949 (1,773,411) 454,548 16,944,721
Designated Fund - property 65,180 65,180
repair fund
Non charitable
Trading Fund		 164,016 44,850 (46,113) 162,753
Total Unrestricted Funds f16,504,831 82,032,799 (1,819,524) 454,548 f17,172,654
PRIOR 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 oharitable
Trading Fund		 164,663 58,133 (58,780) 164,016
Total Unrestricted Funds 616,633,070 K2,48L426 (1,489,635) (1,120,030) f16,504,831

NOTES 31.12.22 31.12.22 31.12.22
Total
General Designated Unrestricted
Fund Fund Funds
Income from:
Charitable
acnvittes:
Wilton House admissions 275,252 275,252
Estate management 1,992,022 1,992,022
Other trading activities 58,133 58,133
Investments 156,019 156,019
Other income
Total 2,481,426 2,481,426
Expenditure
on:
Raising funds
Investment
management		 fees 90,791 90,791
Trading expenditure 38,430 38,430
Charitable
Activities		 4 1,360,414 1,360,414
Total 1,489,635 1,489,635
Net income before investment gains 991,791 991,791
Net (losses)/gains on investments (1,120,030) (1,120,030)
Net income/ (expenditure) (128,239) (128,239)
Net movement
in		 funds (128,239) (128,239)
Reconciliation
of		 funds:
Total funds brought
forward		 16,567,890 65,180 16,633,070
Total funds carried forward f16,439,651 f65,180 f16,504,831