WILTON HOUSE TRUST (Registered Charity Number 287144) ANNUAL REPORT AND ACCOUNTS YEAFI ENDED 31 DECEMBER 2024 www.wiltonhouse.com WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pa8c I INDEX A brief History of Wilton House Who We Are and What We Do Chairman's Statement 10 Our Achievements in 2024 12 Visitors to Wilton House 13 The Hunting Room 14 Hospitality & Charity Events 15 The Repair and Preservation of Buildings within Wilton Park 18 Conservation Work to the Contents of Wilton House Stained Glass Painting Restoration Wilton Books 24 25 27 29 The Objectives of Wilton House Trust 30 Auditors, Report Consolidated Accounts Legal and Administrative Information 34 37 51 WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pase 2 Ji r•. A Brief History of Wilton House Wilton House has been the seat of the Herbert family, Earls of Pembroke, for over four and a half centuries. It stands pre-eminent in the art history of England for its tradition of continuous artistic patronage, and for its unique architecture and collections of Old Master paintings and Classical sculpture. The quadrangular plan reflects the cloistral layout of the Benedictine nunnery established on the site in the th 8 century, when Wilton was the capital of Wessex. Rebuilt after the Norman Conquest, some of the monastic fabric is still incorporated in the present walls. Old stonework can be seen in the east and north elevations. One side is built on the foundations of the Abbey church and the others replaced the dormitory and refectory. The base of a Norman column revealed during underpinning work in 1990- is visible through a glass panel under the Gothic Stairs. th Only two intact mediaeval structures survive. the 14 century barn at Washern Grange in the Park, and the Almonry, north-west of the house. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pag¢ 3 th Washern Grange 14 century Tithe Barn - this is on impressive survivor of the medievol abbey and is situated in the pork across the River Nadder, where there was once an independent homlet WILTON HOUSE TRUST REPORT OF THE TRUSTEES Page 4 v¢ The Almonry Originally twice its present length, the Almonry is the principal surviving medieval building on the site and retains several late Gothic windows. The name is a st corruption of armoury, to which use it was converted by the l Earl. Its original function is not known. The Almonry is shorter today, having been damaged by the fire in the 17th century and truncated. The bell cote on the south gable of the Almonry (in attached photo) was added by James Wyatt. The Tudor doorway is surmounted by a shield of medieval arms. The arms are made up of fragments. The rampant (standing) panther and lion are the supporters of the Pembroke arms. The shield, with a lily symbolising virginity, is that of the abbey, dedicated to St. Edith, a Saxon princess. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Page 5 South gable of the Almonry with bell cote and shield of arms WILTON HOUSE TRUST REPORTOF THETRUSTEES Page 6 Half suit of damGscened steel parade armour by Pompeo della Ceso of Milan, a survivor of the once larger collection of 10 century ormour made in Greenwich st and Milan, whichfurnished the l Earl's armoury at Wilton (now called the Almonry,). WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pa8e 7 The original convent was in decline before the Dissolution of the Monasteries in the th 16 century, and the remaining nuns and last abbess, Cecilia Bodenham, were pensioned off. The buildings, together with large estates, were granted in 1544 by Henry Vlll to Sir William Herbert, one of the most powerful men of the day. soon to be created I" Earl of Pembroke. William Herbert, 1st Earl of PembrDke, c. 1560 WILTON HOUSE TRUST REPORT OF THETRUSTEES PA8¢ 8 The l Earl reconstructed the monastic buildings to form a quadrangular mansion with a Great Hall in the north wing and an entrance gatehouse in the centre of the east, a Long Gallery in the west and apartments in the south. Though subsequently st remodelled, the l Earl's building still dictates the form of the present house, with four ranges enclosing a central courtyard and four corner towers giving architectural emphasis. The I. Earl used as his mason architect John Chapman who also worked at Longleat and Lacock. He was almost certainly responsible for the Holbein Porch, shown in the accompanying photograph. .rJ -{ Holbein Porch was thefeature of the l Earl's house most admired by subsequent generations. It datesfrom the 15505. The Holbein Porch was conceived as the main entrance into the Great Hall from the courtyard. Removed by Wyatt and reconstructed in the west garden in 1826, it was the work of the mason-architect, John Chapman, inspired by Sebastiano Serlio. VIILTON HOUSE TRUST REPORT OF THE TRUSTEES Pwgr 9 Who we are and what we do Built on the site of the original abbey, Wilton House is still lived in lin part) bywilliam th Herbert, 18 Earl of Pembroke, his wife and four children, and thus remains a family home. th Wilton House Trust was formed in 1983 by Henry Herbert, 17 Earl of Pembroke. The objectives of the Trust are fully set out in the Memorandum and Articles. However, the key focus is best summarised as the advancement of historic and aesthetic education and the preservation of buildings of National Importance and, in particular, the preservation and showing of Wilton House. As well as giving the public the opportunity to visit and learn about this great and historic house, the formation of the Trust ensures Wilton will be preserved and conserved for the nation. The charity raises income from charging an admission fee to visitors to the house and grounds and from running events and other commercial activities in the grounds and parkland. In addition. the charity owns a significant agricultural and investment property portfolio based around Wilton. Wherever possible, the commercial surplus is used to repair, restore and conserve the fabric and details of the buildings at Wilton House and the important collections of art, sculpture and furniture that they contain. The Trustees also carry out their activities with a view to conserdingthe environment of the land and buildings owned by the Trust. WILTON HOUSE TRUST REPORTOF THETRUSTEES Pag¢ 10 Chairman's Statement year ending 31 December 2024 2024 has been the year that l assumed the position of Chairman and I have endeavoured to continue with the charity objectives to preserve and protect Wilton House and its chattels for future generations to enjoy. Sadly, we have had a reduced income from filming, in comparison to previous years, as long-running series such as The Crown have reached their natural conclusion. Restoration projects such as external painting and stonework repairs are continuing and in 2024, we have begun on the restoration of The Daye House, situated within the Parl which is undergoing refurbishment and modernisation to bring it up to standard, with residential occupation planned on completion of the works in 2025. The cataloguing of the books in the Library has now been completed by Dr Anne Dutton who has produced a new elettronic catalogue of the library of the Earl of Pembroke. Dr Dutton left us at the end of December 2024 to continue her focus on the book collection at Salisbury Cathedral. As in previous years, we continue in our support of local charities by providing the venue for'walk for Wards" and "Wilton Wake Ups" with funds raised going to Salisbury District Hospital's "Stars Appeal" charity. We have also supported Julia's House in aid of Wiltshire and Dorset Children's Hospices, the Salisbury Summer Fair that raises funds for the local hospice and the Wilton Rotsry Club's car boot sale that enables them to support various local charities. WILTON HOUSE TRUST REPORTOF THE TRUSTEES Pagell Throughout the year, we have had various schools and universities who have visited Wilton House with their students in order to learn more about its ar¢ sculpture and history. We continue to work with our farming tenants to explore ways for them to diversify and utilise estate assets in the process. Wilton Estate is following environmental advice on its agricultural policies in terms of conservation, soil health, arboreal and wildlife care whilst maintaining its policy for high quality food production. As part of our environmentsl schemes, whilst the Park will remain much as it was designed and kept over numerous centuries, there will be more areas allowed for fallen timber and wilder grass leys. As ever, we thank the stsff at Wilton House and the wider environmental team for their unwavering loyalty and dedication to the preservation of the House and its environs. We also thank the visiting public and the membership for their continuing support. William Verdon-smith October 2025 WILTON HOUSE TRUST REPORT OF THE TRUSTEES Po8e 12 OUR ACHIEVEMENTS IN 2024.._ Over 30,000 visitors came to Wilton House and its grounds in 2024: Various groups of academics and research students visited Wilton House during the year; and Over £1.3m of improvements, repairs and restoration were completed during 2024 to the House, structures and buildings of the Trust's estate. uu Inner Clolsters WILTON HOUSE TRUST REPORTOF THE TRUSTEES Page 13 VISITORS TO WILTON HOUSE, STUDENTS & RESEARCH ENQUIRIES The Trustees are passionate in their objective both to presenie the House and its contents and to facilitate public access for the study and appreciation of Wilton. The presentation of the House to the visiting public has been greatly improved over recent years. This includes ensuring a wide range of information is available in varying formats, whether through the website, the guide book (written by John Martin Robinson, Trustee), guided tours or free flow days. Wilton House can also be found on social media via Facebook and Instagram. The website is constantly updated with current visitor information, and events. The trilogy of books about Wilton and its collections, has been well received: Wilton House.. The Art, Architecture and Interiors by Dr John Martin Robinson A Catalogue of the Pictures and Drowings at Wilton House by Francis Russell A Catologue of the Sculpture Collection at Wilton House by Professor Peter Stewart These can be purchased in the Gift Shop here at Wilton, or via online selling sites. Additional leaflets on the heraldry and sculpture collections are available for visitors to peruse and to download from the website. There are QR codes available to facilitate this. A recent addition in 2024 has been the updating of the foreign translation leaflets to enable our European visitors to learn about the House and its history. These are now available in Dutch, French German, Italian and Spanish. The leaflet on Lord Pembroke's car collection has been updated and is available to download from the website. There is well-received children's quiz which has been updated in 2024 and which is very popular with our younger visitors. Visitors continue to include schools, university students, historical societies, fine arts societies, Wl groups, gardening clubs, overseas students and groups from the USA, Belgium, France, ltsly and Germany. WILTON HOUSE TRUST BEPORT OF THETRUSTEES Pa8e 14 THE HUNTING ROOM This room is so-called after the paintings by Edward Pierce framed in the white and gold panelling of the walls, representing eighteen scenes of hunting based on engravings by the Florentine Antonio Tempesta. This room was originally intended as the means of access from the State Rooms to the garden for the King. As part of the Wyatt alterations it was enlarged by taking in the site of a former Staircase on the north side. The work was done sensitively and the original white and gold panelled wall treatment, with its carved cartouches and brackets by John Webb and Inigo Jones, was 'stretched' to fill the larger space. Rectangular grisaille panels of musical instruments were inserted between the Pierce hunting panels. These were probably the work of Thomas Ward, the fashionable Regency decorator who was responsible for the trompe I'oeil ceilings in here and in Wya￿5 Great Ante Room in 1816. Catherine Woronzow converted the room into the Billiard Room, a use which has been revived by the present Lord Pembroke. r¥ WILTON HOUSE TRUST REPORT OF THE TRUSTEES Page 15 HOSPITALITY AND CHARITY EVENTS Wilton House has a long history of hosting a wide variety of events within the Grounds. We are thus able to offer charities and other organisations the opportunity to use this unique venue. The Trustees encourage use of outside areas, such as the East Lawns and the Palladian Bridge Field in the Park, for charitsble events. Income from other publicly organised events helps preserve the House and its irreplaceable contents. In 2024, we had a number of charitable events that took place, the Julia'5 House Easter Egg Trail starting off the events calendar. Julia's House is a children's hospice charity that provides support to families of children with life-limiting or life- threatening conditions in Dorset and Wiltshire. They offer prattical and emotional support, both in the family home and at their hospices, and also provide bereavement support. Julia's House aims to help families cope with the challenges of caring for a seriously ill child and to create positive memories and experiences. Julias House ASTEII UNNY & THF LOST LGGgThAIL •.i•i*•iw• . WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pag¢ 16 Lord Pembroke is President of the Stars Appeal Charity for Salisbury District Hospital and making the grounds of Wilton House available for the Walk for Wards annual event in aid of hundreds of patients and supporting the NHS staff who care forthem. The event in 2024 had over 2,000 people walking the route around the Park. ¥) 4, ft %Valk tor th The Salisbury Hospice Charity celebrated the 10 anniversary of its flagship family event, the Salisbury Summer Fair, which proved hugely successful. It was held inside the Park in the Palladian field. Lady Pembroke is a patron of the charity. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pag¢17 In addition, the local charity, the Rotary Club of Wilton, held their annual car boot sale, all monies raised being donated to local charities. The other charity fundraising events that were held at Wilton House included the Wilton Wake Ups, which took place once a month from April to September. The Wilton Wake Up is in aid of Stars Appeal Charity and the Rotary Club of Wilton. Wake Ups give car enthusiasts the opportunity to display their own wheels, look at other cars and talk to fellow enthusiasts. It is a hugely popular event in the events calendar, with people coming from near and afar to display their performance or classic car. WILTON HOUSETRUST REPORT OF THETRUSTEES Pag¢18 THE REPAIR AND PRESERVATION OF BUILDINGS WITHIN WILTON PARK The programme of work is planned in conjunction with various specialist reports and updates by the Estate staff with further reports commissioned from structural engineers, consepdators etc as required. "MINIIIIIHIIHI IIIIIIINnllli lll RllRKllIllRUI 11 The Netherhampton Gate is situated on the south-eastern corner of the Wilton House Park boundary. It provides a secondary access to Wilton House and the estate and has historically been a subsidiary drive, offering a scenic approach to Wilton House through its landscape setting. In more recent times, it has been used as a visitor entrance for public charitable events in the park. Work was completed in 2024. Retractable bollards have been installed on the roadside of the gates to protect the gates and associated piers from vehicle impact damage. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Page 19 lill￿11111.￿ L'*l•• 4•1•ty Stonework and brickwork to the piers and walls WILTON HOUSE TrUST REPORT OF THE TRUSTEES Pagt 20 Repainting of the east and north elevations of Wilton House together with any necessary stonework repairs has been undertaken. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pag¢21 T IIHIIII ' Dry, rr-. vi-; Stonework repairs to the ballustrades WILTON HOUSE TRUST REPORTOF THE TRUSTEES Pase 22 Refurbishment works to The Old Laundry, situated within the boundary of Wilton Park, have now been completed and it is now in residential occupation. WILTON HOUSE TRUST REPORT OFTHE TRUSTEES Pa8¢ 23 The Daye House is another property situated within the park which is being refurbished/modernised. It was made famous by the novelist Edith Olivier who lived at the property until her death in May 1948. It was immortalised by her friend, Rex Whistler, the British artist124 June 1905- 18 July 1944) in his painting below. WILTON HOUSE TRUST REPORTOF THE TRUSTEES Page 24 CONSERVATION WORKS TO THE CONTENTS OF WILTON HOUSE: The online inventory system continues to be updated with focus on documenting conditions of items online and conservation works undertaken. The 2024 winter clean was completed with success and lists have been made for future conservation. During the restoration week, several items of state room furniture were conserved by a specialist. DOUBLE CUBE Specialist conservation reports to fabrics in the Double Cube have been created with consideiation for a future project. Furthermore, the painted plaster had detached from the Double Cube ceilingalcove. Scaffolding was erected in the Double Cube during our closed season for restoration work. A specialist conservator consolidated the crack and applied a sensitive facing for protection for a few months. When removed, the crack was blended and successfully secured. r4 WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pagc 25 STAINED GLASS: A set of rare stained-glass window5 have been conserved by specialists and is now on display. Locatfion: Lower East Cloister- opposite other stained glass 3 Stained Glass panels attributed to William Priee, the younger. Thought to have been commissioned for a closet at Wilton House someivhen between 1722 1735. (cont'd over) William Price. the younger (d. 17651, glass-painter. son of Joshua Price, also 8ttaln&l some celebrity as a glass-painter. Al New College, Oxft)rd, he filled the windows with several pieces of stained glass, painted by artists of the Rubens school in Flanders, and acquired by Price there. These he repaired and supplemented to a large exlenl wf(h glass of his own painting. In 1722 and 1735 PriGe was employed to fill sorne of the windows of Westminster Abbey al the national expense. He painted 'The Genealogy of Christ, for the chapel at Winchester College, 'The Herbert Family. for a closel al Wilton House. 'The Resurrection, for the bishop's palace al Glouce51er, and executed several works in mosaic for Horace Walwle at Slrawbery Hill. Price died a bachelor. in Kirby Street, Hatton Garden, London, on 16 July 1765. The works of the Price family are of cOns￿erable interest with regard lo the history of glass-painting in England. IVILTON HOUSE TRUST REPORT OF THE TRUSTEES P28e 26 •+ Another of the stained-glass panels attributed to William Price, the younger. WILTON HOUSE TRUST REPORT OF THE TRUSTEES Pase 27 PAINTING RESTORATION Running through the priority listforthe preservation and restoration of the artworks at Wilton House, Simon Folkes. a picture restorer based near Salisbury, continues with the annual programme of work on the paintings, usually over the winter months. .K.i. John Wootton-A Spaniel in a Landscape (Before cleaning and restoration) After restoration WILTON HOUSE TRUST REPORT OF THE TRUSIEES Pase 28 G Heckel- Peasants in a Farmhouse {Before cleaning and restoration} li After restoration WILTON HOUSE TRUST REPORT OF THE TRUSTEES Page 29 WILTON BOOKS Between 2019 and 2025 a new electronic catalogue was compiled for the library of the Earl of Pembroke. The previous catalogue was compiled in the late eighteenth century, and the library collection has undergone many changes since then. The cataloguing was done by Dr Anne Dutton (pictured), a librarian and Specialist in early printed books. The books range in date from the sixteenth to the twentieth centuries, and cover a wide range of subjects, including art, architecture, history, travel, science, and literature. All books printed before 1830 are now shelved in the Library, and the later books are shelved in the Large Smoking Room. We thank Anne for all her hard work on this project and wish her the very best as she moves to focus on the extensive book collection at Salisbury Cathedral. WILTON HOUSETRUST KEPORT OF THETRUSTEES Pa8e 30 THE OBJEcfivES OF WILTON HOUSE TRUST These are specified in the Trust Deed: {aJ To preservefor the public benefit the whole or such part or ports of the buildings and their grounds known as Wilton House in the County of Wiltshire and such other land or buildings os shall or may hereafter be vested in the Trust or in respect of which the Trust shall have any interest therein,. (b) To protect and improve the amenities of Wiltonfor the public benefit," (CJ To preserve for the public benefit as an adjunrt to Wilton fvrniture pictures and other chottels ordinorily kept thereot or which may be given orloGned to the Trust and which the Trust shall consider to be oppropriate to be kept at Wilton," (d) To facilitate and encourage access to and study ond appreciation of Wilton and such furniture pictures and chattels as aforesaid by the general public,. {eJ Tofacilitate ond encourage the use and occupation of the whole orpart of Wilton and the use of such chattels as aforesaidfvr charitt7ble purposes," (f) Such other charitable purposes a5 the Trustees shall decide. (Photography Q Simon Upton, Wiu Pryce, Paul Barker, MarkAsher, BrLKe Whlte. Nl8el Balley.Mm Goodman, sallsbury H05plce. ROMÈ. The StrrsAppeal, at)d Wiltoh Hou5eTrustl WILTOFI HOI,'sE'fRIIST REPORT OTr THE TRIISTEFS P•ge 31 8nDual report and Bccountsrelatr lo Wilion TTUStIR¢wsttr¢dCharirynumber 287144)llDd itssubsidigry Pallath*n Produas Limit￿. {C4)JnpaDy ]Ju￿bE[ J727742lie8istertdill Bllglattd and Walcs forth¢ y¢3r ended 31sl DecernF*r 2024. These have prtpsstdto Compl￿ with th¢ pnivisiojjsoftbe ChAntiesAct 2011: theTn￿'S gov¢rning d¢¢d and A¢¢0￿1￿$1￿￿d Reporttng by Cb8rilies' SlaleTnentof Reconjmenthd ￿aCtic¢(FILS 1021 i8su¢don 16th July 2014. SepatEtc a¢coutttshav¢b¢ettprtpar¢d forPallaiknanProdu¢tsLimited aDd Wilton House Trust and aTC available from th¢ Tnui's h¢ad offi¢¢ loGat¢dat TbeEstateOffic¢. Wilw Salisbwy, Wiltsbire SP2 OBJ. TKRMS OFTRUST The WiltOL Howe Ttwwas ¢staJiisbedby a deed dated I Ithmoy 1983. ThE tettos of the bwsi r¢quiT¢ inc1Th￿ to be a￿lI¢d for ¢haritable pu￿08e5 only. but pe¥mitits 8¢¢wllulation until 14th JuD¢2003. alth¢ InL5t¢es' thBcretioll. Capital mgy be tcl•iDedby thc Trusth¢s OT, at theirdL%¢r¢Tl￿. b¢ wlied&% illcorne. The Trn5tetg illvestMentFrt)wtrS￿t U￿1Ml￿d. OPEK4TIONAL LIND Wilton House aDd iE8PaTklattdtogtth¢rwithth¢Pall*digD Bridg¢:_ gj ye4T le45eBtanied on 23TdMay 1983 Freehold IEDd. buLldiD8s, ho￿$t$, Mttag¢s¢ktCfLdingtosom¢ 1.750 kctBres are llthaged Itsatt(￿￿¢ with Ihtprin¢ipks of 8oodFithte ManagemenL BeDeratill8a ￿￿tal incfjtne ftrrtht benefjt of th¢Tn TRUSTEES, RESPONSIBIIlflES The TTUStccs aTe respDllsibieforprqwll)g th¢ Trustr¢s' Report 8ndthefjn4D¢ialstatements ill B¢o)rthce wthappli¢8bie atul United Kttigdom Generally AcLYPtedAcLx>untin8 PrartLtt. Th¢ Cb8Titie$ AdtequiTrs tb¢trLLsie¢s ￿prepar¢aCcounts for ¢a¢b fWn¢￿1y￿ryr 14thich give a true ODd fair vitwof the thffthirsof th¢ ¢harity andof tbe net roovements th bjndsofthe ¢knity forth￿pe￿od. In pr¢paTin8tbo8¢ ac£(Kmts. the Injstees aTe ieqllired to.. select suitable a¢￿￿1t￿1rm)lICi¢S and th¢n applyth¢m ¢onsi$teDtIy.' • obs¢rv¢ the njethods and pr￿cIpleS in the applicablc ch*ritie8 SORP: • ￿ake jud8tm¢Dts and ¢Slimai¢$ that are reasLYLableaThd wdenl, • complywtb gpplicgbleacc4>untillg S￿￿dard&S￿bJt￿to any Ma￿*1 dep*rtvr¢s di%lose4laDdexplained inthe a¢¢othts', • PT¢Patttht 8¢¢outtts OJJ the 8oJng b&8isunless il LS JnBppropri&te loptesume tbattb¢ charity will ¢ominu¢iD erational ¢xisleJK¢. Trnstees&rt respo]Jsible formaltttainingw0p¢r￿o￿1Tin&rccQTthW￿JCh ￿￿¢[(v￿e withr¢asoTJable 8ttUta¢yatany lim¢ th¢ fitwi¢id position of the charity Bndto enablcthcm to eAsure that th¢ a¢¢ounts ¢omplywithTh£ Chsrities A¢t2011, the spplicJble ¢h*ilie$ IA¢¢ouniJD8alld R¢w)rtinglRegula¢ions. andthe pnTrvisioDsof the Tnk5ttkcd. They ar¢ also T¢sw>nsibleforsaf¢gu3Tdingth¢ a8setsof tht charity attd b¢llc¢ for tskiTh8re8sonable SE£PS for the PTcvelltiOll3JLd de￿1]0￿ of fraud attd othtrttr¢gulariti¢s. TRusTE￿s J M RobinwD Esq W G V#doL-SmithEsq H JN Fitzal&n Howard 154 H Esq WILTON HOUSE TRUST REPORT OF THE TRUSTEES {¢ontinued) PAge 32 RECRUITMENT AND TRAINING OF TRusfEES The Foullder, who died on 7 October 21)03, had the power during bis life to appoint n¢w Tnthes up to & totsl of eight. Otherwise the power of appointment rests with the existing TnL%tees. New trustees are recruited by existing trustees kne it ts felt that the individual has some expertise off experience which will benefit Wilton House Thj￿. New tr￿Sle¢S undergo a period of orientstion and traioing during which time they are briefril on their legal obligations under charity law, the eontent of the 1rn%t de¢d, the Structu￿ and remit of the Executive Committee, the dccision making proces4 the busin¢ss plan and tecent financial perfornian¢e. During this time the new tntstees will meel other existing lrnst¢e5 and key memE¢rs of slaff. ORGANISATIONAL STRUCTURE The Trust is managed on 4 day to day basis by the Executive Committee, who meet on a monthly basis. The Tt7JStees meet twi¢e 4 year and At other times matters are referred to them as appropriate by the Wilton Estate Office that proYid¢s pern￿Trellt and temporary staff and support Se￿Ic￿ to meet the requirernents of the TnJsL RISK MANAGEMEKr The Thstees have examined the majoT stralegio business and operational risks which the charity faces and confimi that systems are establish¢d to enable regular reports to b¢ produced so that the necessary 51ep5 ￿ be taken to lessen these risks. They consider the largest risk is the possible need to mak¢ unfore%en repairs to Wilton Hous¢, which is mÉtigated by a eombination of insurance and the reserves policy. 0￿ECTIVEs AND ACTIVITIES There has been no clthng¢ the management policies of the tN$t since the last report. The ¢hority has ¢¢)mplied the duty to have due regard to public benefit guidanee published by the Charities Commission in accordance with 5¢¢tion 17{5) of the Charities A¢t 2011. ACHIEVEMENfs AND PERFORMANCE Considerable renovations have been undertaken during the year with a continuing programm¢ ofpreservation of stonewoLk attd r¢storation of the paintings. sculptures and furniture. The Children's Adventwe Playground and th¢ Surrounding gardens Continuing to be well used by Visitors. The Estate once again hosted the Antiques Fair among other events, all of wl)ich were w¢ll attended. FINANCIAL REVIEW AND INVESTMENT POLICY The deficit for the year on the general reserve fuThd amounted to £239,352 compared with a sutylu5 of £213,276 in 2023. In addition, expenditure atnounting to £Nil (2023-£Nil) was incurred in r¢latiim to the desi￿trd Tepair fund. There are no restrictions on the charity's power to invest. The investment strat¢gy is s¢t by the Tntstees to take account of the income requirements, risk profile and the investment Mal￿g¢r,$ View of the market prospects in the medium terni. Thi$ strategy is set within an overall poltcy which states that the fiu)d is to be invested in low and medium risk inv¢skn¢nt5 with a view to ensuring that ¢apita] growoh and income ¥r¢ 5ufficieJ)t for the requirements of the charity. This strategy is reviewed on a regular basis with the investr(hent maT￿e¥s. WILTON HOUSE TRUST REPORT OF THE TRUSTEES (¢DDtiDued) Pwge 33 RESERVES POLICY The Trustees. policy is that the charity'5 re$erves should be maintained at a level which is appropriate to the charity's objective of preserving Wilton House and its estxte for the public benefit. This objective entails at lea81 three main types of property expenditure: aTh ongoing maintenan¢¢ programme to the House. a plan for improvements to the p¥rk 8nd grounds. and occasional rnajor works which are not always predictsble but which the tees reco￿)iSe are inevitsble with a building of tbis age and scale. There are also expenses associated with opening the House and gr0￿dS to the publi¢ The policy is to Cover the n)aintenance programme atml the annual fourism expenses out of the charity's income over the medium temi, and to build up the reserves so as to fund the plamied improvements while * the same time ensuring that the charity's fimds are suffi¢i¢nt to cover any unpredictable expens¢s. In addition the trustees reco￿lse the need to hold reserves against a possible downturn itt the eh8rity'S income. in particular from tOUTlSm, sin¢¢ th¢ a550ciated expeATrses Cannot necessarily be quickly. The trllste¢s tonsider that reserves of between three and nine month5, ¢xpendinre or between £400,000 and £1.200,000 should be held to fimd the working capital requirements of the maint¢nanc¢ programme and to provide a cushion against a drop in income. The trustees consider that the charity'$ reserves consist of the unexpended income which has a¢¢rued $in¢e the end of the accumulation period. At 31 tk¢¢mber 2024 this amounted to £2,107.711. The unrestricted fi]nds also include lh¢ fixed a&%ets held for the Ch￿1￿ s use (£3,951,189); and those InvestmeJ￿ and current assels which are deriv¢d from the original capital of the trust (£12.112,458). The tnLqtees consider thaL wthile th¢se inveslm¢nts eould be used for suitable improvements to th¢ clwity's property or (in the absence of other fimding) for emergency repaÈr$ to the House, they should not be included as the Charity's reserves #s they are not derived from income. They a150 r￿QgnISe that the effect of any such expenditure on the chariry's fijture income would need to be fjjlly ￿e&sed since the maintenance requir¢]n¢Tht is unlikely to These requirements are reassessed by the Irustees T¢gularly in the context of the charity's budget and ils ¢apitsl ¢xp¢ndi¢ur¢ progranlllle. The trustees confjrn) that th¢ l¢v¢l of reserves at 31 December 2024 accorded with their policy. and that their ¢urF¢nt int¢ntion is to increase the reserve5 so as to pr(>vid¢ fvnding for their planned Amproyements to the park Pailadian Produ¢ts Limited is a trading company approved by the Charity Conllnission to operate the commercial activities within Wilton HO￿ and its environs. Under a license agreement a p¢r¢entage of the net profit is paid to the TNst. During the year to 31 December 2024 Palladian PrOd￿ts Limited made a n¢t Ioss of £1.475 (2023.. £1.463) 2nd held net assets of £161,278 (2023- £162,753). Approyed by the tnL8teeg on 23rd October 2025 and si8ned on their behalf by WILTON HOUSE TRUST Pa8t 34 Ihl)EPENJ)EhT AiiDITORS' REPORT TO TIIE I'RUSTEES OF THE WILTOli HOUSE TRUST W¢ have audi*d the financial stat¢m¢nts of The Wilton House Tru%1 (th¢ 'fbarity) for the y¢ar ellded 315t Dec¢mb¢r 2024 cornprist thc ConfotRd8ted Ststem¢nt of Financial Adiviti¢s, Cthuolidaied BaJ3nct SheeL Consolidate8ibl¢ for thc prepat*tion of lh¢ stai¢DKn¢s and being 5&usfi¢d that they give a ITue Bnd fait view. a]Ld for such intsrnal colltrol as thvy detetrnine i5 necessary lo ¢nabl¢ th¢ P[￿￿[1110￿ of fitwb¢ia] 518iements that are free from matervd misstal¢n￿nL whether dlle to fraud￿ ernSF In prewill8 the statements. the trvslees t&SPQll3ibl¢ for a$5f$5ing the Charity'$ abilsty 10 ¢ULlitiU¢ as a gotijg >ll¢£rn Ilis¢108u)g. gs 4￿lle#bI¢. m4ll¢r5 Telated to CQDC¢rn U5iDg th¢ gOiDg b&sis of &¢¢ouniitig UDiess the trustees eithw ititettd to liquidatr th¢ Charrty or w ¢¢ase op¢rali4)D& or bave norealistsc a]lernatsve but to do 50. Our respo￿&bIlItIeS for tbt iudlt of tb¢ lIn*n¢l￿ st•tem¢Dts Wthave beett appoijjtrd as audii(ff undu %aion 151 of th¢ ChaTIt￿$ Ad20II attdTeport th g¢coTdallte With the A¢1 r¢l¢valll re8ulatioDs ]llade 01 ho￿1￿￿ ¢lTt¢tibtrw]ttd¢r. (knob)'¢¢tiv¢$ w¢ toobtain T¢05ThJ&bk ¥ssur8llcr xbout wlxctlw the fin8tt¢iaJ stsieJt*nts a8 8 fre¢ from mawial wlether du¢ 10 fraud or ¢nor, 8nd to issue alldilor's report that illdude5 uur Opillioll. R&75onablc 8ssibfaiJLY is a high Icvcl of as5UTaDC4 ￿1 1$ tsot * gu￿￿1¢¢ thM an avthi ¢wduel¢d in aw)rfjanee ISAS (iiKI will alw•y8 d¢i¢¢t misstgtsment il exists. MIsstale]llents ¢aD ari5¢ fraud or uror aDd ar¢ ¢onsithr¢d m8knial ic lodividu￿]y or in the aw¢841¢. th¢y ¢￿]d reasonably be £Ypecled IQ iDrtue]Ke thr econo]nic thcisio￿ of users taken on the basi5 of Fhesc finaDcial stat¢m¢nt$. Jneguiarities, irt¢ludin& frauiL 8r¢ UIStsn￿ of rL(KL￿P1i3ll￿ w2tb Illws aDd rcgulation5. We desigjh proc¢durts in liDe with our iesponsibdili¢4 ouiliDcd abDv¢, to drf¢cl rtsateriAI nJisstoteD)eDls m resrrtt of irregUl￿]t1¢S. tndudtng fraud. Thc cxknt io which our procedllr￿ are capAbl¢ of dEte¢tins trrtgularities, itt¢ludttig fraud, is de¢ail¢d below.. We ¢t￿￿edthat the t￿￿￿e￿¢￿t ie4m eollt¢iiv¢ly bad the opp￿la* ¢omwll¢¢ *ndwabLliti¢$ior¢cogDise conJpliaD¢¢ Mryth applicrknle laws alld regulatsons, We idBntificd thc law5 uppli¢abi¢ to the Chsjity throu8h dis¢us8ions wryth dir¢¥lors èndm8ThogemcrLi alld our knowl¢dge and experience of the Charity alldthe gtttor, alld We ¢nsur¢d th#1 the laws andr¢gulati(ms which i(kntifiedwer¢ communicated to the ¢ngagemttti teath that Ihey r¢m4]￿d th to i]LStall¢es ofthott. ￿mpli#ll¢e thTouthwtth¢ audii. W¢ 4s8ess¢d th¢ suscqJtthLlity of the Ch8Titys fiJwi¢id Stsiefftellts to mat•iAI mis-statemen¢ illcluding (*stsiDingaD JthiandiD8 ofh(tw fraud ￿18h1 sal of invemments Pur¢h#s¢ of ityvesiments Purchase of propety, plant4nd quipm¢nt 273.498 256,404 5.983.222 16.382,735) 11,320.368} 1,817.680 {1979.463) {1,134,702) N¢t cash provided by (used in} investing activities (1.446.383) (2.040.081) CHANGE IN CASH AND CASH EQUIVALENTS ¥ THE REPORTING PERIOD {£538.017} 1£1,547,9791 Cash aDd cash cquivalenL8 at the beginniThg of the reporting period 3,272,082 4,820,061 Cash a[￿ cash equival¢nt5 #t th¢ end of the Tewrting p¢riod 2,734.065 3.272,082 NOTES TO THE CASH FIA)W STATEMENT *. RtcontiliAtion of Det IDcomel(expenditsr¢) wlth net tash flow from operating actiyities 2024 2023 Net incomel{expenditur¢) for the reportinB P¢Tiod las per the slat¢m¢nt of finan¢iil a¢tiviiiesl Adjustments for: D¢pr¢¢iation aThd inpairment charges IGains}Aos5es OD iDve5tments (Gains)A055¢s on fixed a55¢t diSpos￿S Dividends inieres¢ from investments {Jtt¢reaseydecre8sc in SLIKk ncregseydecrease in dcbtors Increas¢l(dccr¢ase} in ¢reditors 998,704 667.823 1215,190 {998,812) 40,484 1273,498) 1,223 (34,289) 140,635) 804,391 (633.453) (256,404) 4.464 4.181 198,900) Net cash flow provided by {u5ed ill> operaiing activiiies £908,366 £492,102 Thtnoies on Page 40 to Page SO forn of these accounts. WILTON HOUSE TRUST NOTES TO THE CONSOLIDATED ACCOUNTS for tbt ytar ¢knd¢d 31st Dettmber 2024 PAge 40 I. ACCOIJNTING POLIC Basil ofpreparAtion •nd 4sstumtnt of goittg concern The fmancial stat¢meDts hav¢ b¢¢n prepared und¢t the histori¢al ¢o$t convention with itctns r¢cognised * ¢05t or traThsaction valu¢ unless otherwis¢ stated. Thc financial statements have b¢¢n Prepared in ac£ordance with th¢ 2Dd cdition of Charities Statement of Rtrommended Pra¢tice {October 2019), thc Financial Rcporting Stsndord applicabl¢ in the UK and the Republic of Ir¢land IFRS 1021 the Chariiies Aet 201 I. The Charity coJ]stithtcs a public benefit entity. The Tr￿SIteS c0115id¢rthere are no material uncenatnli¢s aboutthe Charitys ability to coniinu¢ as a going tonr¢rn. Con8olld#tion Th¢se accounts are the con501idated xtounts of the Wilthn House Trust and its subsidiary company Palladian Produtis Limited. The combination of thcse two ¢ntitj¢5 has be¢# a￿Oun(¢d for using awuisiiion actounting. Good￿￿ Pwchased goodwill 1$ capitalised and amortised over its estimated usefijl life. Non-PUTch*sed goodwill is not capit41ised. The amorti$aiion ratr is IO¥4. Stoek Siock Is valued ai th¢ lower of cost ond n¢t r¢ali5able value. C05t is (kfjncd pWc1￿ price or the sellin8 pri¢¢ less the appropriate nlark up. Invutment in¢ome IDV¢Stmeni tn¢om¢ represents ws5 dividends and intertst received from invc5tD￿ts. Rent rtteiv*blt R¢nt r¢c¢iTrabl¢ rcpresenis amounts due forthc year. exclusive ofValu¢ Added Ta Admissions #nd memb¢r5hip In¢otne from admissiTrn5 is recogllised on the datr of the vi$it. Annual membcrship 15 deferred and re¢og]]is¢d in 12 equal monthlyamounts. Grant income Income from rev¢nu¢ granis is r¢¢ogllistd on all a¢¢Th￿S basis. Revenue grants are retogni5¢d as intome in th¢ same period ￿ the r¢Jated expeLditur¢. lorome from filmi]Jg Income from filming is recogni5¢d on an accruals basi5 the period in which the filming OCCU￿S. Dlroct th*ritable expendlture Dtrect charitable ¢X￿ndItllre ¢ompris¢s diKct ¢xpcndityr¢ on the charitable objtctivcs of the trusL Governance and $typport costs l1Je govcrnance and support ¢OSts romprise the costs of ?dministerinB the let properties and general administralion costs of the trust. These expeJJses ar¢ delailed innoies 5 and 6 to the ae¢outLts. Heritage ijstts Th¢ In]s¢ccs consider tbai the tharit￿S leasebold interest in Wilton House and its frechold interest iti th¢ Wilton Est&tt constitute heritsge &8sets. Th¢ Twste¢s consid¢r th¢ level of annual expcnditure requir¢d to maintain the fr¢¢hold land attd buildings to th¢ high Standard requAred io m¢¢t the objeciives of the ctlarity i8 Ir¢at¢d as thc dtprcciation charge foT the year and is deductcd frum the carrying ¢ost of the assei. Acwal expenditur¢ is capitalised, as part of the costs of the assel, incu￿ed. Definable nMjor ass¢ts or componet￿ th¢r¢of arc treated separately and deprcciated over their useful econojnic liv¢s. The directors Consider thai ihis treaim¢Dt is rcquit¢d to give a true and fair vi¢w of the value of heritage assets WILTON HOUSE TRUST TrIOTES TO THE CONSOLIDATED ACCOUNTS f•r tht year tnded 31st Dtcembtr 2024 P*gt 41 I. ACCOUNTING POLICIES Depr¢ri*tlo]h As stated above the d¢pr¢ciaiion charge for freehold land and buildinyJ for the year rq)Te5ents th¢ l¢v¢l of annual eATrenditUT¢ requ￿ta ￿ maintain th¢ fr¢¢hold land and buildings. The r¢quired Itvel of annual expenditur¢ is ¢alculaied from atl assei management plan and in¢orporated into the detailed budgctary proccss for th¢ charity, as with all such plan5 minor Yari)n¢e$ oe¢ur as to timing5 gnd amounts to be ¢xp¢n(kd. The Trustees are therefore of ih¢ opinion th&t the acbjal exp¢nditur¢ incurred r¢pr¢5¢nls a fairer rcfleclion of the "annual ¢xpenditurc" unless a material advanccment/d¢lay in h mainlenance projed Ilas occurred in tht period undcr T¢Yi¢W. Depreciation for additions to l¢as¢hold building5 are dttided oth a ¢4se by use basis. The rates in usc arc follows'.- Wilwn Housc Café Roof 30 year SL Wilton Garden C¢Dtre Resiwrant 35 year SL Nctherhamptott G8te 5-1￿7 y¢OT SL Provision for d¢pre¢i1ti0n of other langible fixed asstts is made on the rcduGing balancc basis calculakd at annual rates estittiated ts) wrile off each assel over the t•m of its useful life. The rates in use are as follows'.- Plant and equipm¢nt Fixtures and fittings 25% Io*A Debtors Drbt(pfs 8T¢ me&fjured at th¢ amounts the charity anticipates It will rec£iv¢ from a debt or the aTfLoulli ji has paid in advance for goods or services. Cr¢dltors CrediloTS measured at th¢ amounts the rharity atsticipalcs it will pay to 5cttl¢ a d¢￿ or the amount it ha5 r¢¢eived as an adva1￿ payrlleni for goods or 5erYices it provid¢. Flnfilleitil instrumeDts Th¢ charity only has fmallcial assets and liobiliiies of akind that qualify ts basic fjjwicial instrutneDts. Th¢y are initially Te¢ogrtised ai transaction value and $ubsequeDtly measured at their s¢ttlement value. Iw¢stmtnts Invcslmcnt assets are valued on thc following b#5iS'. Quolcd sc¢uritj¢5 - Ai mark¢i va]ue Reilised ind unreallstd gains and 1055es R¢#listd gains and losse5 are T¢¢Dgnised disposal of investments. Unrealised gains and loss¢$ are recogDised oll th¢ D)wk￿ value of quoted investments ￿ th¢ ba]4n¢e sheet date. ststus of fund 'rh¢ fund tleld is unrestricted. The tru5t¢¢5 hav¢ ¢omplete discretion for th¢ us¢ olfunds iD pursuance of th¢ twust's Lksignated futsds are unTeslrict¢d funds whi¢h havt bttn set aside bythe tntst¢¢$ fot particular PUTpose5. INVESTMENT INCOME 2024 21123 Inv¢$tmellt xssets within th¢ United Klngdom Quotrd securiti¢s Casb held as Part ofthe invesimcnt portfolio Bank inl¢]est 178.183 199,186 95,315 57.218 To¢#1 Ihvestment ineome £273,498 £256,404 WILTON HOLISL TRUST NOTES TO THE cO￿'soLIDATED ACCOUlWts for the ye*r tndcd 31st Dteethbtr2024 Pw42 3. OThER INCOM 2024 2023 651 624 651 624 4. Tr4EfINCOME FROM TRADING SUB51DIARY Wiliort H￿se Trusi has a wbolly own¢d subsidiary. Pallaib￿ Pr(hJucl8 Limited which is incorpwdkd in ih¢ Uniltd Kingdom. Palladian Prixkncts LimTid opE￿Ie5 the gift shop and atTallges fiLDdioJ]s held El Wilton Hous¢. Tbc CoMp￿Y'S *xablt profts we paid io Wilton Ho￿¢ Tr￿￿ under Aid 'fh¢ wdittd a¢￿￿ts of Pall*J4¥JJ Pr￿juL*S Limi¢¢d ￿¢ fjkd rthth¢ R¢gistrarof Comwjics. A ofthe compwry's results is &$ follows.. 3X.A124 42.749 124.3331 31.1223 44.850 125,698) TLWIOWI Cc6tof SSJL Gross profil Othu optratingownses 18,416 120,5421 19,152 117.6891 OPERATING {LO￿lIPROFIT 12,126} 1,463 Jntsyestre¢eLvHbie $iMilar 651 ILOSSyPROFn' ON ORDINARY ACTMTtES BEFORE TAXATION Tary Ilossyprofiton ordthary activitics 11,4751 1.463 LO￿}￿RoFIT ON ORDINARY ACTivfnFs AFTER TAXATIOP4 Giftajrt doMio {1.4751 1,463 12.7261 RETAf4ED (ioss)IPROFtr FOR FLYANCL4L YUR R¢tsllwd profit at IsiJ3nu2ry2024 11,4751 162.753 112631 164.016 RETAtNED PROFIT AT31ST DECEMBER 2024 £161278 £162,753 T1￿ assets snd lthbilitie5 of th¢ subsidi￿Wcre5S foll¢)uB'.- 31.1224 31.1223 Fixed ￿ets £urTent *%eis 162278 163,753 To$￿ tset 8ss¢ts £162,278 £163,753 Shareholdtr5 knds £162.278 £163,753 WILTON IIOIISE IRIIST NOTESTOTHE CONSOLIDATED ACCOLNTS lor theyt#r tllded31stDecernber 2024 PAge 43 S. AFIALYSIS OF RESOL'RCES EXPEM)ED CbRRF.NT YEAR R#l$lDg funds Invesbnent M8llfjganeDt fer5 120.617 44224 120.617 44,224 100.398 43.387 164,841 104.841 143.785 Cbarltablt itdvldes r.staie DWl&8uKnl 122.775 Wijtou House adm￿jon$ 245,549 893.850 321,339 287.282 76,351 6,731 126.744 64.074 .430,651 707.314 6,731 1,029.005 632,480 14253 368,324 1,2J5,19Q 370,364 190.818 2.144.696 1.675,738 £368.324 £1,215.190 £535205 £190,818 £2,309,536 £1.819,523 PRIOR YBAR RiiyinE lullds luvestsllemi 100,398 43 J87 100.398 43J87 Txaditigwettdillwe 143.785 143.785 Cbgritsble *cdvlthes E*ai¢matsÉg￿nt￿t Wiholl Hous¢ ¥thission$ 110220 220.439 525,343 279,048 216.039 78,576 14,253 177.4Q3 54.417 1.029.005 632.480 14253 330,659 804,391 308,868 231,820 1.675.738 £330,659 £804 J91 £452,653 £231,820 £I.819.523 Wa8e5 aDd ￿alyStd &% hUows."- 21J24 2023 333,909 15.998 1&417 297277 15.998 17J84 Natxjnal th$Ur￿¢¢ Costs £368J24 £330,659 11¢ av¢r4¢ Dumber of wloyees wa5 2412023 . 2714lld they were tsu ewloyed witbitt the dirttf ththriixbie aclt4'ili£s. No crnployee e4JtDcdJllote than £60.000 pu anDu￿ duTuwthE ycar. Tr togtshave Wtiolltd to th¢athiviii¢s ID a wav a¢ll￿] ¢ongmiNioN the pwp)s¢ of th¢ UD&rlJillB a55Ct or th¢ type of PTOltttii)N pw¢has¢d * appropriak. Support costg iocjude expujdiwre as sknw) In tsote 6 ¥￿erallY all(*at¢dknK¢n Wilion Houyc A(bniMons and Est8t¢ M8na8ernent ID A I.2 T8ti0. DurNigth¢yeaTno trustecs %vu¢rcllllbu￿e￿l f¢rtraYd expen5&%.12023". £341 WILTON HOUSE TRUST NOTES TO THE CONSOLJDATED ACCOUNrs for the year ended 31$t December 21124 P4ge 44 SUPPORT COSTS Supporr ¢osts ¢on51itute central management and administrative costs whi¢h are nece5sartly in¢wr¢d to enable the charity to carry out its activitics. They ar¢ made up as follows: 2024 2023 Management f¢es Insuran¢¢ and professional Costs Other repairs and maintenan¢¢ Irrecoverable VAT Woodland expense5 CuTrehcy exchange 77,600 62.048 41,448 11.125 28,105 (29,508) 78,245 55,200 20,649 9,156 11,266 57,304 £190.818 £231,820 GOVERNA]¥CE COSIS 2024 2023 Audit fees Bank charges LegHI & Professional ftts 4,900 1.000 831 4.500 873 8.880 £6,731 £14,253 INTANGIBLE FIXED ASSETS G4Jodwill COST At I st January 2024 Additions 149.005 At 31st De¢ember 2024 149,005 AMORTISATION At 1st January 2024 Charge for the year 149.(K15 At 31st December 2024 149,005 NET BOOK VALUE At 31 st December 2024 £0 At 31st Dec¢mber 2023 £0 WILTON HOUSE TRusr IYOTES TO THE CONSOLIDATED ACCOUNTS for the year ended 3151 Deeernber 2024 Page 45 9. HERITAGE ASSETS L¢gsehold Property Improvements t*asehold Property Additions Freehold Property Tot*1 At 1st January 2024 Additions Disposals 14,922,598 ,320,308 (763.026) 7,451,905 1.026,902 1.062,468 81,136 6,405.225 212,330 (763.026) At 315t D¢c¢mbeT 2024 15,479,940 8.478.807 1.143.604 5.857.529 DEPRECIATION At 1st January 2024 Charge for the year Disposals 11,065,490 1.210,123 (722.542) 7,451,904 961,214 20,644 36,578 3,592.942 212J30 (722.542) At 315t Decernber 2024 11,553.071 8.413.118 57,222 3.082.730 Ntt book vglu¢ At 31st D¢¢ember 2024 £3,926,870 £65,689 £1,086,382 £2,774.799 At 31st December 2023 £3,857,108 £1 £I,IMI,824 £2,815,283 OTHER TANGIBLE ASSETS Pl*Dt & Equipmejht COST At 1st January 2024 Addition$ Disposa]s 403,984 581 402,061 581 At 31st December 2024 404.565 402.642 DEPRECIATION At 1st January 2024 Charge forthe y¢8r Disposa]s 375.179 5,067 373,256 5,067 At 31st December 2024 380.246 378,323 Net booll vxlut At 31st December 2024 £24,319 £24,319 At 31st De¢¢mb¢r 2023 £28,805 £28,805 WILTON HOUSE TRUST P40TLS TO IHE CONSOLIDATED ACCOUIYTS for the year tnded 31st Detembtr 2024 Pwge 46 9. OTHER TANGIBLE A&SETS (¢oDtinuedl Th¢ net book value at 315t DeGcmber 2024 repr¢￿[￿ tangibk fjxed wts u%d for.'- Total Leasehold Leasehold Freehold Property Proptrty Prop*rty Improvtmtnls Addilions Plant & EquipmÈnt Tourism Eslate 197.573 3,153,616 65,689 707,565 1067.234 24,319 1.086.382 £3.951.189 £65.689 £1,086,382 774,799 £24.319 Ai 31st Dtccmber 2024 ¢apital expendilutt Coullnilmenls coDtra¢i¢d but nol provid¢d for in Ibe aCCo￿ts amowjted to £Nil12023- £Nil) Th¢ l¢as¢hold projkny co]nprises the cbtirity5 l¢a5ehold interest in Wilt(>n Fiouse tsnd Wiltotl Park which i5 held on a 99 y¢ar lease which ¢on]tllenced in 1983. Th¢ freehold property rijmprises th¢ ¢harity5 freehold int¢r¢srs in the Wilton Estalc w]Ji£h li holds in a￿or￿ance with its charitabl¢ objects io manag¢ and pr¢5erve the s¢tt￿E of Wilton House. The Ch￿Ity'S inter¢sts in th¢s¢ were not va]ue41 when thcy were ttansf¢rred 10 the chaTity il its inceplion and no valu￿10￿ has b¢¢n obtsined bccause ith th¢ truslce viewthc ¢osi of obtaining a valuatithj would outweigh the b¢n¢fits to users of th¢ a¢Gounts. I'hc ¢hariW5 ￿11¢Y is to preserv¢, maintain and et)han¢¢ Wilion House and the Park and the buildings th¢rein to &8 high a standard &5 ptrs&ible within Ihe resour¢¢s av8ilable to it. and to matlage the r¢mainirLg 18nd ({￿l￿g part of Ihc Wilton Estate in &cordanc¢ with the piincipl¢s of goLN] esthte management. Thi$ polic}, encompasses ￿e&S1o￿al sales of b.stste laLd th¢ acquisition of addilional land where the5¢ are consithrtd to be for the b¢ner￿ of the ch•ity. Ex￿NditUre on I￿a]nt¢￿ance of heritage ass¢ts iD the past five accounting period4 wthich b¢¢u capitalised and depr¢ci8kd as ¢xplained in Note I, wa5 as follows: IA%ehold Pro￿rtY Fre¢hold Propety 2020 2021 2022 2023 2024 370,636 55&216 400,567 49).863 958.951 116,861 223.316 133,543 286.530 212,330 487,497 781.532 534.110 777.393 .171281 No berirage ass¢ts were acquired by don￿10￿. The following procceds W¢T¢ rrt¢ivcd from the Sak of heritage assets wthich W¢Te held at the ¢arrying aD)ount of £Nil- Exasehold Prop¢rty Freehold Pr(bp¢rty Total 2020 2021 2022 2023 2024 WILTON HOUSE TRusr NOTES TO THE AccouTrrTs for the year ended 31st De¢eJDb¢T 2024 Page 47 111. FIXED A&SET INVESTMENTS 2024 2023 Grou ari Gro hari Inve5¢ments comprise United Kingdom Oversets Cash held as part of investment portft>lio Inveslmenl in subsidiary 5,197,367 6,370.531 2,297,004 5.197,367 6,370,S31 2,297,(X)4 163.1)00 5,046,715 5,123,442 2.069.126 5,046,715 5.123,442 2,069,126 163.000 £13,864,903 £14.027.903 £12239,283 £12,402,283 Other quoted $e¢uriti¢s UK Ov¢rs¢4 Total Mark¢1 value At l January 2024 Additions UnTeaii5¢d gainl (defieit) on revaluation Dtsposals £10,170,157 £6,382,735 £998.812 (5,983,805) 5.046.715 4.023,446 (67,613) (4,182,506) 5,123,442 2,359.289 1,066,425 (1.801,299) Market valvt At 31 December 2024 £11,567,899 £4,820,042 £6,747,857 Historieal eost At 31 D￿eMber 2024 £9,520.983 £4,462,021 £5.058.962 Market value At 31 Dec¢mb¢r 2023 £10,173.857 £S.050,415 £5.123,442 Htstorle#l cost At 31 Decemb¢r 2023 £8,913.663 £3,879,235 £5,034,428 11. DEBTORS 2024 2023 GTOU Grou Clhari Due within One year.. Trade debtors Other debtors Accwed in¢om¢ and deferred expenditure Amounts due from group undertakings Other tax and social S¢￿Tity 36,126 102237 2.756 1.915 34,085 102237 11,833 1,915 36,481 58J50 38.690 58,350 13,913 13,913 £143.033 £150,070 £108,744 £110.953 WILTON HOUSE TRUST OTES TO THE ACCOUNTS for the year eDded 31st December 2024 Page 48 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Gro h#r Cha Tr*Je cr¢ditors AmouThts owed to group undertakings Accrua15 and deferred income Oth¢r creditors Other t&x and S￿1&1 security Rent rec¢ived in advance 13.867 13.867 100,000 163,458 860 16,538 20.764 7,010 6,440 IIK).000 208,994 166.133 913 16,538 20,764 210,164 148 20.764 20.764 £218.215 £315,487 £238,086 £336,198 Th¢ loans are inter¢sl-fre¢ and repayable on demand. 13. CREDrroRS: Amouiyfs FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Gro Chari Grou Charl Rents r¢ceived in advance 20.720 20,720 41,484 41,484 £20.720 £20.720 £41,484 £41,484 These atnounts fall due as noted below.'- Between one and two years Bettveen two and fiv¢ years More than five years 20.720 20,720 20,764 20,720 20.764 20.720 £20,720 £20,720 £41.484 £41,484 wtLTON HOUSE TRUST NOTES TO THE ACCOtJNTS for tbe year ended 31st Deeember 2024 P¥ge 49 14. FUND MOVEIWENTS CURRENT YEAR At 01.01.24 Gains and Losses At 31.12a4 Incorn¢ Expenditure UNRESTRJcfED FUNDS General Fund Deslgllated Fund- property pair fund Non charitsble Trading Fund 16,944,721 2,027.435 (2265,312) 1238,056 17.944,900 65,180 65,180 162,753 42.749 (44,224) 161.278 Total Ubr¢$trleted Funds £17,172,654 £2,070,184 (£2,309,536) 1,238,056 £18,171,358 A propety repair fund was established in 2015 by a transfer of £350,000 from the general fund. This consists of fund5 which have been earnwked by the tru$t¢¢s for the purpose of propety repairs whieh have not yet been caTried out. PIUOR YEAR At 01.01.23 G*lns and At 31.1223 In¢om¢ E￿endI1llrt $5es UIYRESTRICTED FUNDS GeTherai Fund Designaknl Fwid- PTopety repair fund Non charitable Trading Fund 16,275,635 1.987,949 (1,773,411) 65,180 454.548 16,944,721 65,180 164,016 44,850 (46,113) 162.753 Totsl Unrestrlcted Funds £16,504.831 £2,032,799 (£1.819.524) £454,548 £17.l72,654 15. RELATED PARTY TRANSACTIONS In the year, no trustees received any r¢mun¢ration or any other benefit from Wilion Hous¢ Charitable Trust (2023.. £34) In¢lud¢d within management and administration expenses is an amount of £170,600 (2023 - £171,968) Telating to management expenses paid to The Barford Settled Eslate a trust in which the Earl of Pembroke h&5 a life interest. Th¢ Tnjst was owed £181 (2023 - £Nil) by Barford Settled Eslate, £16 (2023 - £Nil) by The Earl of Pembroke, and £68 (2023- £ Nil) by North Hill FaJms Limitrd al 3 1st December 2024. Rent receivable includes £67,050 (2023 - £67,050) in Tespeet of le&8es to North Hill Farn]5 LimiteiL a ¢ompany owned by the Earl of Pembroke and Barford Settled Eslate. Rent receivable iti¢ludes £20,764 (2023 £20,764) in r¢spect of a le&se of premises to the Earl of Pembroke. WILTON HOUSE TRUST COMPARATIVE CONSOIIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st D¢fember 2024 PAge So NOTES 31.1223 31.1223 31.IL23 Totsl Unre5tiicled Fund5 Genet¥l Fund Desiyw*d Fund Intome frorn: Charttabl¢ activilies.. Wilton Ilouse thi￿lOnS Estate man*getJKnt 265,319 I.465,￿2 265.319 1.465.602 Othertrading activities 44,850 44,850 InVeStn￿ts 256.404 256.404 Other income 624 624 TotAI 2.032.799 2,031799 Expenditure on= Rok%uLg funds Inv¢sthieni man2g¢m¢ni f¢¢s Trading¢xpe[￿lt￿ 100.398 43.387 100.398 43.387 Charitabl¢ A¢tivities .675,738 1,675,738 Totsl 1.819.523 1.819,523 N¢4 Incon￿ before inv¢slJnent gains 213276 213.276 Net Ilowsygains on invtsttnttj 454.547 454,547 iD¢omel (expenditur¢) 667,823 667.823 Net movement in fuDds 667,823 667.823 R¢tonriliatton tsf Tots] fijnds brought forward £16.439,651 £65.180 £16.504,831 Total ¢arri¢d forward £17,107,474 £63,180 £17,172,654 Th¢Te have be¢n no acquisitions ordis¢ontinu¢d operations during the ¢UTrent or prec¢ding ￿ar. WILTON HOUSE TRUST LEGAL AND ADMINISTRATIVE INFORMATION As at 31st Decem￿r 2024 eSI TRUSTEES John Martin Robinson William George Verdon-srnith Henry Julian Nichol￿ Fit2a]an Howard H¢T￿ William Lowson SETfLOR The Hon. David Alexat)d¢r R¢8ina]d Herbert FOUNDER Henry Gcot¥e Charles Al&Ydttd¢T 17 Farl o(Pembroke PRINCIPAL JIDDRESS The Fstate Office Wilton Salisbury Wiltshire SP2 OBJ PRIIYCIPAL EMPLOYEE Christvpher William Rolfe Esq FRICS Resident AgenL Wilton Estste ACCOUNTANTS AND AUDITORS Fldcher & PArth¢rs ChambLYS Bridg¢ Street Sa]i5bury Wilishire SPI 2LZ BANKERS Lloyd$ TSB Bank Pl¢ 19 High Sireet Southampton Hampshire S014 2SE INVESTMENT MANAGERS Stonhopc Capitsl LLP 35 Pi)rtman Square London WIH 6LR Sardsin & Partners LLP Juxon House 100 St Paujs, Churchyard London EC4M 8BU Hamlin Capital Management LLC 040 Fifth Avenue. I lth Floor NewYorlNY 10019 Cathjove Capital Monagcmcnt Ltndon EC2Y SAU SOLICJTORS Ashfords Ashford House Grthadicr Road Exeler EXI 3LH REGISTERED CHARITY NUMBER 287144