PARHAM PARK TRUST (1984) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 PARHAM PARK TRUST (1984) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 P& T[￿te¢5'All￿u￿ Rwrt InderaurtAudifof3 Ryrt ststetll¢nl of F]nonciglActivities io Sthrdule of Inveslments and tno)m¢ Notes trj the Financial Statcmcnts 12-17 PARHAM PARK TRUST (1984) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 The TrLSttts are pleased io pr¢5¢llt their report together wtth finenci￿ 5taternents of the charity for the year ended 5 April 2025. The financi￿ statements have been prepared in ac¢ordanc¢ with the accounting policies out in the wtes to the finJmci81 statement8 comply with the charity's 8ovemirtg do¢umenL the Chariti&8 Act 2011 and Accounting *]d Rwrting by Clwiiies.. Statefflent of R¢wmrnended pra￿l¢e oppli¢abl¢ to Ch￿itieS preparing th¢￿ in a¢¢ord8nc¢ with the FinanGi Reporting Standard applicable in the UK èffid Rcpublic of Ireland published ith October 2019. Objettives And xctivitie5 The Trustees may pay orapply the uThrestrict¢d wiita] and incon)e of the Charity to or for sllch charl￿1¢ tnstitutions or pu￿￿$¢$ as the Trustees in their ab501ute discretiotj think fit. The main (pbje¢tive of the trLL8t is to provid¢ sufficient funding on a sustAinable basis to ¢nable ￿haM Park Limited {a re￿stered ¢lJaTityI to achieve its objectives of prc5crving, maintatning and improving th¢ Trustee5' propety ai Parham Park (whi¢h ornprises en Elizabeth8n mwion with a garden, outI￿lIdIng$ and aTnenity land which arc opcned to manbers of the publicl. The trust also owJ]s the Nortllwick Business Centre at Northwirl Blockley. Olou¢est¢rshir¢ whi¢h provides Iow-¢OS¢ industrial units. Thc Ch&Tity aims to meet the runniTtg costs of thes¢ obje¢tives from the investment ]￿e ond r¢nts r￿¢1Ved the Northwick BUsu￿S Centre. The Trustees carry out th¢sc objective5 by regularly considering appeals 4)th¢r Ghariti¢5 and making policy and fimding decisions whilsi meeting eJ￿U8]lY to review 8vategy and petfomiance Of the Charity. Public Benefjt The TnJ81ees cottfjrm they have complied with the duty in Section 17 of the Chartties Act 201 l and hav¢ referred to the guidance conthined in the ch￿lty Commissiort's genern] guidance on public b¢nefi¢ when reviewing the Ch&Tity's aim5 and tsbjective5 and in plvJhniThg fiLture adivities and setting the th)naLions p)liry for the y￿. The FKnefJt th&t arises is the provision of fwiding to organisdtions that d¢mothstrate charitable purpose. Th¢ provision of fvndin8 to Parhllm Park Limited for the pr¢seTvation ond maintetjance of the historic ¢stat¢ provides a b¢n¢fit to the public in furthering the Education and apprtttation of our national hcrita8e. The estate is open to the general public from Easter to October each year. It includes a grad¢ I listed Elizabethan man5i0ll which houses numerous rare portraits. iiems of fvmiture and needlework colle¢tions of nlltional importance. Thr grounds omd surrounding laThdscape are also reco8nis¢d to b¢ of Si￿]rIcant heritag¢ imp)rtone¢. A¢hlevements and performane¢ During the ye4r the Trnstees madc grants totalling £543,767 [2024.. £626.587] in fiJrth¢ran¢¢ of their obje¢tiv¢s and continue to Make grdnts to ch8ritsble orgarusations both on a one-off and rccuttin8 b&%is. Th¢ lar8¢r grants awarded during the year are Stated iti the notes to the fi[w￿la] stat¢m¢nts. Th¢ Trustee8 are pleas¢d with th¢ progrcss made it) the financial year ended 5 April 2025 and look fonwd to expanding their work with many other d]ariti¢5 in the years io come. Fin*Jbei￿ review The TTUSlees received £982.846 in iiivesttnent income in the current year12024.. £883237] and the Trustees h&vt achievcd thcir int¢ntion of Bpendin8 the in¢om¢ on charithble aaivities. The Investment Propertie5 Bre shown in the Financiol SiateTnents at thcir fair valucs plus any e&pital incurred since their revaluation at 5 April 2024. UDles$ the tru$tee5 dcem there has been a matria] ¢hang¢ in market value. the policy of revalU￿10n ts based on a five year period. The ncxt revaluation of the Invcstrllent Properties is expected ￿ be on 5 April 2029. Net outgoing Te50urces for the year were £67.27612024'. outgoing £178,240]. ITh addition th¢ TrLJSt polis¢d a gain on investm¢nts of£141,86412024.' gain £343.3251 and made an unrealised 1055 of £683.77812024.' gain £657,734]. The n¢t outgoiDg JnoY¢tnent on fiu¥J5 was £609.19012024: incoming £822.8191. PARHAM PARK TRUST (1984) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 IDvestme*t polity The Tn]$￿$ have irt5tructed the Investment Managw that the rM)rtfolio is to Ix invested to producc a 5ULtablc mixture of income in ord¢r that the level of grants may be maintsined and capitsi growth to swJr¢ the future of the Charity over the coming years. The Trustee5 are confident that the firture income 8iream is secu￿, The investment p)licy is mortttoroj by r¢gu12r invesknent report5 and meetings with the Inve5th1ent Manager. A bre4kthwD of th¢ iov¢slln¢nts held during the fwan¢ial yekr ended S April 2025 can be $¢¢n ort page I l. RbkM#llAgèm¢nt The majorrisks to whid) the Charity 18 ex￿￿3ed have b¢¢n identified and Steps taken to miti8ak those risk8. The main risk to the Cknity corKems th¢ investments held. The TJwte¢s hav¢ Mitigat￿ this riskby ¢ngaging Cazenove Capitat to ]nRnag¢ the investmujts 8nd monitor the portfolio and financial risks to the Charity. The Tru5tC¢5 regularly review the va]uation of invesrments and th¢ incom¢ Stre￿ g¢n¢rat¢d. The Tru5t¢¢s have satisfied themselves that the tr￿t is & going wn¢ern PJLd has adequate resources to continlle in opeydtiona] exL5tencc for the foreseeable futwe. The charitabl¢ aaiviti¢$ are funded by the investment rx)nfolio and although Covid-19 did have a negative impad on this, thc portfolio h&8 recovered with 5uificient value to sUp￿rt contithu¢d makin Reservu policy It is ihe intemion of the Tr￿sIteS to sustain the unr&8tricied funds at a level which will provide sufflcjent funds for the level of paid and to cover ihe Charity's MaT￿ement and admini5tratioTh costs. Atthe Balance Sket date th¢ ￿t￿¢striCted resetves amowited 10 £35.892.138. Future Plalls Thc Charity's objectiv¢ is to ensure filnds ar¢ avoilabl¢ for grant8 to be m&1¢ io P8yham P8d( Lirnit¢d to ensur¢ that the Estste is adequately preserv¢d and maintauL¢d. It is envisaged that fijnding r¢quir¢ment5 will remain the same. The T￿Stee$ do ￿t envi￿g£ any rnateri￿ chÈnge to the orKration of the Charity in the long-temi 8nd the investments will continue to be managed on a similar basis as they now. NoMith$ianding thi5, th¢ Trustees reman flexible in ternis of the type of organisatiott$ they supp) Strudure* 8overnADce gDd rr•in*gemeDt Th¢ TTUSt hos ¢hsritable stattL8 Ènd was set ￿ by VeronicaTritton by Deed dated 16 Felw 1984. The management of the Ch￿Lty is vested in the Truste¢s and they aaiwely review the perceived rnajtr risks which the Charity races and the Trusiees are satisfled that thc system5 arc in plac£ to mitigate those risks. The Trustees hawe ier&ived aFvroprith briefjng on their re5trf)n8ibilities under the law relating io ¢haTiti&8 and their duty to sure that their Ch￿L1&ble wtivities ￿¢ for thc public bentfit. The appointrrlent of new trustees 18 V¢Sted in the Tru5¢ees cting &t the time of any suGh appointment. The selediort of future trustees will have regard io the skills, knowledge and exp¢ri¢nc£ needed for the effe£Éive administration of the ch￿lty. Jnduction aDd training for In￿le¢S is provided where relevant. PARHAM PARK TRUST {1984) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2025 Referente and #dmiffti$trative illfomgtlon A re8iStered charlty, registered with the Charity Commissioners for England and Wales ￿ number288828. Princip￿ Office: 4th Floor. 7 Swallow Street Lonth)n WIB4DE Th¢ TNste¢s 92? Dicking)n Trust Limited and J&m¢s Barn￿￿ The Directors of Dickinson Twst Limited are: The Hon H M T Gibson Ichairnian) The Viscount CowdTay (Resi￿ed 12 Mar¢h 2025) Th¢ Hon C A Pearson The Hon PN Gib50n Th¢ Hon B C Gurdon MrJRESmith Mr R C P TtYJugl)ton (Re5Lgned 13 June 20241 Ms S J ButTell Mr S JAtkin30n Mr$ FA Rice Mr M P H8rris Mr K Wright Mrs CA Bullough (Apptsintcd 30Au8USt 2024) Thc Hon P J D PeaTSOTh {Appointed 14 May 2025) Soliciknts: Currey & Co Ltp 33 QueenAnne StreeL London WIG9HY Auditors: Shaw Gibb$ (Audit) Limtt¢d 25 St Thom&% Strttt Winchester Hampshire S023 9HJ BBJk¢r.' Royal BaDk of Scotland 119- 121 Vi¢toria Strcct SWIE6RA Banker: Schrod¢r & Co I LAmd(pn W811 Place tx>nthn EC2Y SAU Investment Mww. Cazcnove Capital I tknniknn Wail Place London EC2Y SAU PARHAM PARK TRUST (1984) TRUSTEES, ANNUAL REPORT FOR THE YEAR EIYDED 5 APRIL 2025 stst¢th¢nt of Ih5teos' RuponsibilitlE$ The Tn]stees are responsible for prewing th¢ Trustce5' Report and the fin8ncia] 5tat¢tn¢nts in ￿)rd￿J￿¢ with applicable law and te8ulaiions. The law 8ppli¢able to Gharitie5 in Eng12nd and Wa]e5 rquires the trusteu to prep￿¢ fin8J)rial statemcnts for each financial year in aco)rdgnc¢ with United Kingdotn Generally Ac¢ept¢d Acwunting Practice (Untted Kingdom Attountittg StartdgAs at applicable regulations). UndeT that law the tr￿$tee5 tnust not approve the financia] $tst¢m¢nts unless they oje satisfied that they giv¢ A Irue and fair view of the stsi¢ of atTairs of the charity and of the incoining re50urcu and application of resources of the charity for that perio In prep¥ing these f]]wncial stat¢ments the trusttts are required to: - sele¢t sultable accounting ￿li¢jeS OJLd then apply them cotL5i5tently - ob￿¢ the methods at￿ principles in the Chariti¢s SORP (FRS 102). - make judgements and aGcountllJ8 estimates that ar¢ reasonable and p￿denT. - stat¢ wh¢th¢r llpplicable accounting standards have been followed, $ubje¢t to any material departures di5closcd and explatned ith th¢ fJnall]cial statements. and - prep￿e the finan¢iai statements on the going conrrm basis unless tt is inappropriare ￿ presum¢ the charity will continue in business. The Trustees are responsible for kecping adequ*c accowiting recor(L8 which are suffi¢i¢ni io sksw PJLd explain the chariws transa￿10￿$ and dis¢los¢ with reasonable accuracy at any time the financi￿ FX)sition of the chaJity and enable them to cnsurc that the fjnancial statements comply with the Charities Act 2011, th¢ Ch￿ill¢S {Accounts and Reponsl Regulations 2008 and the p￿￿]$]0￿$ of the Trust Deed. They are also re5p)nsible for safegu4rdin8 the assets of the charity and hence for tAking rea50tLible S*P5 for the prevtniion and d¢t¢¢tion of fraud and other irregularities. Approved by the Trustee8 on 3010112026 )d signed on their bEhaifby-. DickiM50n Trust IAmited J*me5 Barnard Dlrector PARHAM PARK TRUST (1984) INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 5 APRIL 202S W¢ have audited the financi￿ 8ta*m¢ots of Parham Park T￿s1 {1984) {the 'rharity) for the ye8J end￿ 5 April 2025 whi¢h comprt$¢ the StatemeDt of Fina¢)¢ial Adivities, the Balance SheeL the Ca3h Flow Statement and notes to the fJn8n¢ial $tatcm¢nts. including slgn1fiu￿t accounting pDli¢ies. The financial reponing fram¢work that has b¢en applioj in their preparation is applicable law and United Kingdom AGcounting Standards, includiDg FinanGial R¢sx)rting Standard 102 Th¢ Finan¢ial Reptsrting Stsndard gpplicable in the UK and Republi¢ of Ireland (United Kingdom G&)ually Attepted A¢countill8 Practice). In our opinion the financial statemcnts: 8ive a tnle and fair view of the state of rh¢ ¢hèrity's affair5 at 5 April 2025. 8nd of its incoming resourc￿ and application of rewuTtt5, Lncluding its in¢om¢ a￿d expenditure, for theyear then ended,. have bE¢n pmperly pr¢w¢d in accordance with United KinBdom Generally AccewedAccoulltin8 Pr¥ti¢¢; and have bccn prcparcd in accordance with the requirements of the Charitie5Act 201E. BASIS for oplolo W¢ tonducted OUT audit in accordanff with International Siandatds on Auditing (UK) (ISAS (l￿)) and applic&bl¢ law. Ow SWt]5ibilities under those stthdaTds are further described in the auditor Tesw>nsibilities for the audit of the fuL￿tial $tsterrhents section of our r¢p)rt. We ￿e independent of the charity ITL accordance with the ethi¢a] r¢quirem¢nts that are rclevant to our audit of the fJnart¢i81 Statements in the UK, inc]uding the FRC'S Ethitat md we have fulfilled iyjr other ¢thi¢a] resJx)nsibiliti¢$ in accordance with thes¢ requirements. We believe that th¢ audit cvidence we hav¢ obtained is sutTLcient and appropriate to provide a b&sis forour opinion. CoD¢Iusions rnl*ting to going coTrcern In auditing the financial staterncnts, we have conclud¢d the tN5ttts' use of the going ￿n¢¢rn basis of ￿￿nI]ng in the preparation of the finoncial 5tatemettts is wropriate. Based on th¢ WOTk we have perfomhe¢ w¢ have not identifjed any M￿¢￿81 uncertainties relating to ￿ents or conditions tha¢ individually OT collectively, may ¢au signiflcant doubt on th¢ ¢haTiW5 ability to continue a ￿Ing ¢on¢¢rn for a period of at leasttwelve months frotn when the fJnanci81 statetncnt5 are authorised for issue. Our r¢sp)llSLbilities and th¢ responsibilities of the trus￿9 oJe with respect to 80in8 concern ar¢ d¢scrib¢d in the relevant sections of this retKTrrt. Other Intorn￿*10th The othcr informatiojj cortlprises the inforniation included in the tru3ie¢s' 8nnud reForL other than the financial statements gnd our auditor's re￿rt thereon. The trustee5 are responsible for the other inforniation. Our opinion on th¢ firtanci￿ statements does not covtt the other iofom]aiion and w¢ do not express Ally forn of assurance conclusion thereon. Our responsibility is to read the other inforniaiion thd, in thiing 80. consid¢r wh¢th¢r the other information is materialty inconsistent with the financial statements or our knowledge obtwned in thE Course of the audit or otheJi¥ise appeprs to b¢ mowially ]ni55tate& If w¢ id¢ntify Such m￿trial incon$i$ten¢ies or app￿ent material misstat¢ment$, w¢ ar¢ Tequircd to determine whether this gives rise to a material misstotetn¢nt in the financial staiem¢nts th¢ms¢lv¢s. If, bas¢d on the work we have rKrformed we conclude thatthere is a maieria] mi5s¢atement of this other infomjation, we w¢ rcquircd to report that fact. We have tK)thitLg to rerx>rt in this r¢w MAttern whlch wt #re nquired t• report by exceptio We hav¢ nothing to rqK>rt in r¢$p¢c¢ of the following matters in r¢lation where the Charitiu {Accounts and Re￿rts) Regulations 2008 require us to rcpTrrt ￿ you if, in our opinion.. the inforn￿l10n given in the tru$t¢¢s' rep)rt is incon5iSteni in gny mat¢riaJ re8pe¢twith the finanaaj statements. or PARHAM PARK TRUST (1984) INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 matte￿ on whick we wuired to report by exteptk+n (Cotstillued) suifjcient accouniing r¢o)rds have not be¢n keptr. or the finallcial 8tat¢m¢nts ￿ not irt agreement with the ac£oLllthng records" or we have not rcceived all the infonnation and cxplanations we require for our audiL R¢spon$ibil1t￿ of trnjtses A5 cxpINined more fully iti the trustee5' resrM)nsibilities stot¢tn¢n1 5¢t out on page 3. the tru8t¢es are responsible for the preparation of the financial statements and for being satlsficd that they give a true and fair view, and for su¢h int¢mal ¢ontrol as the trustees d¢iem)in¢ 1$ nece85ary to en8ble the pre￿￿tion of financial statements thftt are free from m￿trial misstatement. whether due to fraud or error. In preparing the financial 5ratem¢nts. the trustees are responsible for assessing the charity's ability to eontinuc &8 a going ¢ODt£m, disc105ing, ￿ applicabl4 nwtter5 related to going con¢¢tn 8J)d using the going concern b￿lS of aceouniing ￿)lesS the In￿te¢S either intend to liquid￿¢ the charity orto cea8t operation5, or have tK> realistic alternative but to do so. AuditOT Te5ponsibitities for the ludit of the fiDAntial sthteme#ts We have Ftti aP￿inted as auditor und¢r se¢tion 144 of the Charities Act 2011 and report accordance with the Act and relevant re8ulaiion$ Jnadc or having effect theTewider. obj¢ctives are to obtain rwonable assurance about whether the fin8n¢ial statements a5 a wknle are free from mot¢rig] misstateinent, whether due to fraud or error, and to issue an wditor's reN)rt that includes our opinion. Re8sonabl¢ assurance 15 a high level of assuran¢¢. but 18 not a 8U8rantee that 8n audit conducted in accordan¢¢ with ISAS (UK) will aJway5 detect a material misstatement when it exists. Mi85tatements c8n oyise from fraud or error and are eorjsidered material if, individually OT in the they could rwonably bc ¢%￿1¢￿ to Tnfluence the economic decisions of us¢Ys taken on the basis of these rinancial statements. IrregularitL¢S. includin8 are instances of not)-compliance with laws and regul8tiorts. We design proccdwes in line with our re5pon5ibiliiies. outlined alxTrv¢, to detect material mi5Statanents in respect of irre8ularitie¥ in¢luding fraud.15 The extent 10 which 0￿procedureS arc cF4>able of detectin8 irregularitic4 including is detailed below.. Bttause of th¢ iDhcrcnt limitations of 8n audit, there is arisk ihol we will not d¢t¢ct a]1 irregularitie8. includin8thos¢ l¢ading w a mÈteriai misstatement in the finan¢ial statements or n0nrytompllF￿¢¢ With regulation. Tbis risk itlCT¢ases the mor¢ that compliance with & l*w or regulatton is removed fi￿M th¢ events and transactions refl¢¢ted in the fLnanci&l 5tat¢ments. as wc will bc Icss likely to l*come aware of itistanccs of not￿COmplianc¢. The risk is a]so greater regarding i￿¢gUlaritIeS 0￿￿TrIng due io frwd rather than ¢m)r. &8 fraud involves intcntionai &)tJcealrn¢nt. forgery. collusion. omission OT I[ii5r¢p￿¢nIat1on. We obtwned an unthrstanding of the legal and regulatory frartlework appli¢abl¢ to th¢ Charity vi& di￿IOnS with the knstees and our previous knowledge of the charity. This id¢lltified that the most signifirant law5 and regulations relate to the fomi and content of th¢ fJnonGiaJ statements su¢h as the Chariites Act 2011, the Ch￿ltieS SORP (FRS 102) and Financiol Rewrting Standard 102. The Ch￿lty complies with these laws and re8uiation$ by using appropriately qualifi¢d profes$iona]s to pr¢pore th¢ financiat $Wme]￿. As part of our planning proc¢55 we asjessed susrtptibility of the charity's fuw)¢ial statements to material Misstat¢m￿l including how fraud ]night occur by m8king &8e55ment of the key risks. The key risks identificd in resptct of Parha]n Park Tnjst {1984) pr¢ rev￿Ue recognition p￿d eligibility of ¢haritabl¢ ￿ving. The tru￿¢¢5 wnfirnled no actual. suspected or alleged ¢gses of frAud. B￿c￿ on this ass&%sment we drs1￿￿ our audit W0¢¢d￿ to athlRs5 th¢s¢ k¢y risk 8reos with 8n empl￿]5 on testing the income gains on the investtnents. the income ort inve5fment propetty attd the charitsblc donatiOTJS mad& A fi]rther description of our resp)rL8ibiltties is avllilable on the FRC'S w¢bsite at.. https.'l/www.fr¢.or8.ukAibrarylstandgTd5-¢odes- rolicylaudit-WUTgJ]wnd-ethIc￿. This des¢ription fornis part of our auditor's rerx)rt. PARIIAM PARK TRUST (1984) INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 5 APRIL 2(125 U$e of owr report This re[￿ is made solely to the ¢￿ty.$ t￿￿tteS,. as a body, in accordance with Part 4 of the Charities (Aceounts and R¢ports) Re8ulation$ 2(K)8. Our audit work has be•) undert8ken so that w¢ might state ￿ the ch8riry'8 trustees, those matters we are requircd to stst to them in an auditor's report 4T￿ for no other PUTrM)se. To the fiJll¢sL ¢xi¢nt p¢nnitted by law, w¢ do not accept or 8ssum¢ rwsibility to anyone Oth￿ th8n the ¢harity and the charity's trwst¢¢g w a body, for our audi¢ WOTL for thi5 Tep)¢ or for thc opinions we have form¢d. 676aJ 14-J ShY4W Gibbs (Audit) Limitrd Chartercd CertifiedAwuntsnts Sthtutory Auditor 25 St Thom&8 Street Winch&*r Hwnpshire S023 9HJ Shaw Gibbs (Audit) Limited is eli8ibl¢ for app)intment ￿ auditor of the charity by Virtue of its cligibility for aprM>infment &8 abditOT of a wMpa￿Y UDder section 1212 of th¢ CompaniesA¢i 2006. Dat¢.. PARJIAM PARK TRUST (1984) STATEMEiYf OF FINANCIALACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 2025 Unrestricled 21)25 2024 Note Prioryear iolal funds fuod$ Illeome frnm: Jnvestrnents 982.846 982,846 883,237 Th¢al 981846 982,846 883.237 Exp¢nditsLrt on: Ratsing funds Charit8bl¢ a¢tivities 453.448 596,674 453.448 596,674 381,775 679,702 Total 1,050,122 1.050,122 1.061.477 In￿me1{¢￿ptTrd1Iu￿} (67.276) (67276) (178,240) Other n¢o8nig¢d iiillsl(1O55￿). Gainsl{Iosses) OD r¢valu8tion of fixed &*8ets 106,888 Gal[L￿/(lOsSC&) on investtnent a55ets io 1541.914) {541,9141 1,001.059 Nel movement in funds {609,190) (609.]￿)) 929,707 R•¢on¢lll*tx)M of fundB: Totsi fijnds broutht forward 17 36,501,328 36,501,328 35.571,621 Total fuDds carried forv¥rd 35,892.138 35,892,138 36.501 J28 PARHAM PARK TRUST (1*84) BALANCE SHEET AS AT 5 APRIL 2025 Not• 2025 To¢*l fvDds 2024 Priorymr fuDd$ Flxed A$8etv. li 12 17,363,040 6,893.827 11.292.074 17,348,254 6.575,(KlO 12,075,297 Invcslmcnt property Investments T•t*l Flxe41 Assets 35.548,941 35.998.551 Curr¢AtA55ets: Debtors 13 14 132J18 595,999 122.368 1,090,873 Tot*1 CwmlltAssets 728.317 .213,241 Creditor8'. Arnounts falling due within ou¢ y 15 (385,1201 {710,464) N¢t CumntAs8tts or Liabilities 343.197 502,777 Tot*l NetAssets or Ii*bilities 35,892,138 36.501,328 The Futtds of the Ch*rfty: 17 35,891138 36,501,328 Totxl Chlrity FDDds 35,892,138 36,501 J28 Approved by the Trt￿te¢s on 3010112026 and si￿￿ on theiT behalf by.. Dl¢klvox Trust Limited J*me5 Barn#rd Dire¢tor PARHAM PARK TRUST (1984) CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2025 Nots 2025 Totsj ds 2024 Prioryear nds Cash geDer< from oper¥ting *¢tivitieJ: Net Gash provided by {LL8ed in) op¢rating tt¢tiviti¢s 16 (1.385,416) {941,300) Cash from other solitres: Dividend4 irti¢rtsi 8md rents from investh¢nts Proceeds from s8]e of invc¥ttnent 982,846 241 J09 $83,237 917,037 1224.155 1.81JO,274 Application of thqh: Purch8se of property* plant and equipm¢nt Purchaseof invesiments {333,6131 (26,677) 1300,050) (333.613) (326.727) N*t l*¢r¢asel{decr**se) in cAsh (494,874) 532,247 C&sh at bank OJLd in hand1¢55 overdrafts at the kgir]ning of thcye4r I,OW,873 558,626 Cmh *¢ ADd h￿d le￿ ov¢rdrnfts 4¢ ye4r end 17 595,999 1,090,873 10- PARHAM PARK TRUST (1984) NOTES TO THE FllYANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ststutory Jnformatio Parhojh Trust (1984) is & registered charity. The registcred nwnber and prin¢ipa] offi¢¢ Address ¢on be found in the Reron of Ih¢Trustees'. AccoDDtiDg Policks Basis of fill•DtlAI st*tsM¢Ats Pre￿ration The finan¢ial sto1￿¢Ats of the charity. which is &publi¢ benefit entity, have bcen prepared in accordance with the Choriti¢s SORP (FRS 102) 'Acwunting and ReJx)rting by Charities.. Siat¢TtL¢nt of Recommended Pracuce applicable io choriti¢s preparing ih¢ir attounts in accordan¢¢ with the Financial Reporting Standard applicable in the UK Republic of Irelp￿d (FRS 102) (effective l January 20191,, the Financial Reporting Standard applicable in the United Kingth>tn 8md Republic of Ireland (FRS 102} and th¢ Ch￿ilLeS Act 2011. The fIn￿claI s¢at¢ments hav¢ be¢n prep8roJ undet the hi5torieal wst nvention. Thc fInattcial stste]nctJts havc been prepar&1 to give a Irue ond fail vtew and have departed from the Ch8rities (Ac¢ouT and R¢tknrts) Regulations 2008 only to the extent required to pn)vide a ttue and view. This dq)uture ha5 involved following Accounting at￿ Rep)rting by Charities preparing their acLtsW)ts ir) a¢¢ordance with the Finoncial Reponin8 Stsndard applicable its the UK and Republic of Ireland IFRS 102) issued in October 2019 rather thgn the Aecouniing and Rey>rtinK by Cho]i¢ies'. Stwement of Recommended Prn¢tiec ¢ffectivc from l April 2005 which h&$ since bcen rcmovtst The Tnjstees CO¢h$idcr that there arc no material uncertainties about the Trusvs ability to continue as a goin8 concerJL b) Nat￿￿¢ of funds All fimds held are UDrestri¢ted and the Tru8tees are free to usethem in ￿OrdanCe with the Charitable objects. FIX￿ investments Investments att stat¢d at market value at th¢ Ba]an¢e Sh¢et date. Overseas inveS￿enl8 are tr8nsi*d into st¢rling at the rates njling at the yettT end. The Statement of FinaJ)Giai Activities (SOFA) includes the net gains and losses on revaluation and dispo$a]$ thwughout the year. d) Income In¢ome 15 recogniscd it) the SOFA once the ch￿lty has ¢tttiU¢m¢nt to the fvnds. it is prnbable that the ineome will b¢ received and th¢ amount C8A be measured reliably. Expenditure Li8bilities recognised &s ewndi￿rC soon there is a le8￿ or CONtructive obligation committing the charity to tha¢ exFxrtditur4 it is probable that a transfer of ea)nomic benefiis will be r¢quired in s¢ttl¢ment and the amount of th¢ obligation can be me&8ured reli&bly. Expendtture is acu)urtted for on an aecruals basi5 ond ha5 bren cl&8sified under headings that aggr¢gate a]1 costs related to that category. Where costs cannot be directly attributoj to particular headings, they have been alloc2ted to activities on a basis ton5iStcnt with the use of r¢sourc¢s. Chlritsbie grants Grants payable art reix)gnised in th¢ SOFA whEn thcy are approved by the Tnthes and the r¢¢ipient h¥s been inforni¢d of the amount w b¢ paid. 12_ PARHAM PARK TRUST (1984) NOTES TO THE FINANCLIL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 (Continued) gl FO￿1¥￿ curr￿¢￿8 Trn)sa¢tions det￿Minated in a foreign currency 8tY tr￿￿l￿ted into sterling at th¢ r8t¢ of extlknge ruling at the date of the tranwtion. Al the Ba]ST￿e Shcet date monet8ry 855ets liabilities d¢nominated irt a fo￿1g￿ currency are trans￿ at the ratc ruling at thèt dat& All exchange differtnGc5 arc deali with in the SOFA. Herit4g¢A$5ets Propty known 8$ P￿baM Park, Pu]borouth West Sussex is subject to tt 99 year lease to Parham Park Limit£d which commenctsj on 16 July 2013. It 15 carried at cost l¢ss atry pmvision for diminution of value. No dwreciation is charged. It is consider&1 by the Trustees that 8ny depreciation chat8ed would r￿t be material in the context of these flnancial statem￿1$. The chatte1$ in¢luded in the balance shed are shown at the fair value appli¢able at the date of dorAtion. with adju5tm¢nts for subsequent addition5 and distKTrs81s made. In addition the Ex¢cutors of the Estate of Mrs V M Tritton by Deed of Appoinmient dated 6 July 1995 ap￿Inted various chattels to the charity. These have been incIuded at nil va]ue because they wer¢ exempted from IHT on the death of Mrs Tritton. Va]ues will ￿ obtained on ot)y sa]e of thes¢ ¢hhttel5. lfrw¢stmeNI property Investsn¢rtt propulics for which fair value can be me&sured Teliably without undue cost or ¢rfort 8Je m¢a5ured at fatr vatu¢ at each reporting dat¢ with changes in fair value recwised in'nct 8atn81(losses) on inv¢5tsn¢Dts' in the SOFA. i) Irrwernble VAT Irrecoverabl¢ VAT is written off to th¢ 5pme exp¢ns¢ ¢a¢¢gory in which the acttjal expendittwe was in¢u￿¢d. RemwDerntioD of Tru$tee4 In the financial yelr to 5 April 2025 the Trustees did not receive any rcmurleration or have tbeir eve are as follows.. Gaifjs athd Movement In funds Outgoings Uttrestricted Funds 981.995 11.IM9,?711 {541,914) (609.190) 17 ReeonciliAtiDD of n¢t ID¢oMel(e￿tDdI￿rn) to Tret cAsh Ilow from Op¢rntingAclivitK5 2023 2024 Nd incrfmi&{exp¢nditurc) {as per the Stst¢ll)ent ofFinancialActiviti¢$} Adjustments for.. Dividends. interesi and rent from inveS￿entS (Jrt¢reas¢lldecrease iu de￿orS Incre8s¢l(d¢cre&8e) in ctEditors (67276) (178,240) {982.846) (883.237) (9,950) 121.632) (325344) 141,809 Net cssh provided byllused inl Operatin8Activitie5 (1.365,798) {941,3001 18 Reconelll*tioi of nd intomO(*Kpenditure) to nett￿b flow from OpergtingA¢tivhi¢s 2025 21124 Cash at bank and In hand Overdrafts irt¢luded in bank loans and overdrafts due within on¢ year 395,999 1,090,873 595,999 1,090,873 19 Related Party Tr#*g#etioD Don*ion$ tothlling £525.(K)O were committ¢d io b¢ Tnadc to Parham Park Lijnitrd (Rw5tered Charity NLunber 2766761, charity fjtwicially depKndent on the ChaJity. A totsl of £290.000 ￿M￿lnS outstanding at 5th April 2025. During the year Millbank FingJJ¢iai Serviccs Limited CMFS) chty fees of £6,101 12024.. £5.8721 tsr their Portfolio Stewardship service and Dickin50n Tnjst Limited ch￿ged administraiion expense5 of £46,80112024.. £44,102]. The Hon H M T Gibson. The Hort CAPe4rson and Mr M P Harris IDiTectors of Dickn1￿)ft Trust Limited) ot¢ Directors of MFS. It should be noted that a sibling of Hon H M T Giljson aT¥J Hon P N Gibwn, th¢ fath¢r of Mrs C A Bultr)ugh. the son of Mr J R E Smith 8nd the moth¢r of Mr R C P Troughton (Directors of Dickinson Trust Lirnited) are Directo￿ of MFS, namely Hon W K Gibson. Hort CA P¢arson, Mr O G E Smith ?￿d Mrs S H Tr(pughton resp￿tIVelY. Mr R C PTroughton resI￿¢d &8 Direoor of Dickin%>n Tnjst Limit¢d on 13 June 2024. Mrs S H Troughtoll Tt5i8)ed 8$ Director of MFS th) 17 S•ber 2025. 17-