Charity regi¥tration number 289822
STRATFIELD SAYE PRESERVATION TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

STRATFIELD SAYE PRESERVATION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustee¥
The Duchess ol Wellinglon
Baron Piers von Westenholz
The Hon. Edwaid Clive
Lady Rachel Billington
The Earl olAnlrim
Charity number
289822
Auditor
Alliotts LLP
Friary Court
13-21 High Street
Guildford
Suriey
GU13DL
Solicitors
Blandy & Blandy Solicilors
One Friar Street
Reading
Berkshire
RG1 1DA
Invèstment advisor5
Rothschild & Co.
New Court
St Swilhen's Lane
London
EC4N 8AL

STRATFIELD SAYE PRESERVATION TRUST
CONTENTS
Page
TTUStees' report
Staternenl of IIU5tees' responsibilities
Independent auditorfs report
Statement of finanaal a¢tivities
Balance sheet
Notes lo the financial stslemen15
9-18

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial slalements for the year ended 31 December 2021.
The finanoal statements have been preparèd in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the trust's governing docLJmenl, the Charities Act 2011 and "A¢￿untIng and
Reporting by Charities.. Slalement ol Recommended Practice appli¢able to charities preparing their a(£ounl$ in
accordance with the Finanaal Reporting Standard applicable in the UK and Republic ol Ireland IFRS
1021" leffea￿e 1 January 20191.
Objectives and activities
The Slraffield Saye Preservation Trust is constituted under a trust deed dated 26 June 1984 and is a registered
charity Inumbei 2898221.
Thè main objectwes of the chaiity are maintaining and restoring stra￿le1d Saye House and chattels and archives
laling to the First Duke of Wellin9ton and opening the house lo the public.
The trustees who have served during the year and since the year-end are set out on Legal and Admini51ralive
Infomialion p39•. The minimum numbgr of tnistees iq thrpp. 2nd Arlrlitinn￿I triJgtpp8 MAY be appointed al any
time. The trustees meet once a year where decisions are di5Gussed and taken with any minor decisions being
taken by the INstees' agent following consuttalion with a minimum ol Irusletrs.
Relationship bel￿een eharity and related parties
A fflajority of the trustees are independent ol the Wellesley family. All transactions with Straffield Saye Eststè arè
carried out on an am's length basis.
Investment Performaneo
The trustee5' investment portfolio is held and rnanaged by a leading investment bank Rothschild & C4) and the
portfolio is regularfy reviewed.
The total value ol investments increased in 2021 from £5,557,168 to £5,625.926. During the year £272.500 was
drawn down and there were reali5ed and unrealised investment gains of £798,099. Income continues lo be
generated by let pioperty, admissions and donation5.
Revtew of the year
The charrty earried out normal repairs to the fabric of Straffield S8ye House and work5 of art.
Straffield Saye House was able to operate a reduced opening to the public during the Summer of 2021 after not
being able to open al all during 2020 due lo the COVID-19 pandemi¢. An additional 10A was drawn down from
the investment fund lo cover lost incorne frorn the House opening.
SlraKield Saye House and Ils grounds are maintained by the trustees in a good slate of repair wilhoul recourse lo
any grants. The house is open lo the public and the level of visitor $3115faclion is high. The InJslees confirm they
have paid due regard to guidance issued by the Charity Cornrnission in deciding what activities the trust should
undertake.
Achièvements and perfomiance
Fundraising actlvitiès
The charity's main fLJnd raising activities are from donations and from investment income. No professional fund
raisers are used by the charity.

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Financial review
Reserves Policy
11 is the policy of thè trust to maintain a fund sufficient to produce an income to maintsin the fabri¢ and grounds of
Slraffield Saye House. The trustees hold an investment portfolio and drawdown 4¢h of thi5 each year for the
annual expenditure of the trust, although 5°/0 was drawn durin9 2020 and 2021. The income for the year was
£471.821. Totsl expendilure for the year was £598,940. The investment gain of £798.099 resulted in a net
surplus for the year 01 £670.980. At Ihe year end free reserves including investments of £5.625.926 and a loan of
£700.000 lotal £5,848.950.
The trust holds a ftjnd Sufficient enough lo cover half of the annual expendiluie ol the Irusl. 11 is the rne<liutn term
aim lo leach enough lo cover all costs of approximately £400.000.
The trust CUTrenlly holds fixed assèts of £6.5m including inve51rnen15. 11 is the intention of the trustees to try and
add to this figure so as to provide for the lull running costs of the charity, bth in the medium term will need lo
continue to rely on donations.
Rlsk ass•8smtnt
The house has a modern fire and burglar alarm systern. An annual health and safely inspection is carried out
logether with a risk assessrnent. An e5ectrical installation inspection is carried out 5 yeajly, with portablè
applianee testing being carried out annually. All staff receive appropriate training.
Plans for the future
The Iruslees will continue to maintain Straffield Saye House and the collection of works of art in the Wellington
Collection and to open the hoijse lo the public.
Structurè. govèmancè ar7d mana9ernent
The Iru8lees who served during thÈ ypar 2nd up lo thÈ dAlp of xionxtijrp nf th* finxnrixl.*tatpmpnts wpr@'.
The Duchess of Wellinglon
Baron Piers von Westenholz
The Hon. Edward Clive
Lady Rachel Billington
The Ead of Antrim
Trustees are appointed by the Duke, a5 per the Trust Deed. A skills audit is carried out annually to identify gaps
in the skills sets of existing trustees.
None of the trustee5 ha5 any beneficial interest in the charity. All of the trustees are members of the charity.
The trustees. report w35 appro
y the Board of Trustees.
Trustee Baron Von Westenholz
Dated.. i?Jioi.2022

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The ttustees a￿ responsible lor preparing the Tru5tees' Report and the financial statements in accordance wtth
applicable law and United Kingdom Accounting Slandar(Js iunite(J Kingoorn Generally Aceepteo Accounting
Practicel-
The law applicable Its ¢h3rrties in England and Wales requires the Iruslees lo p￿pare financial statements for each
financial year which give a true and lair view ol the 5ts1e of affairs ol the trust and of the incoming resources 8nd
application of resources of the truat for that year.
In preparing these financial stalemenls. the trustees are required lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and prinaples in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accotjnling standards have been followed, subject lo any material departure5 disdosed
and explained in the financial statements.. and
prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the tharity
will continue in operalion.
The trustee3 are responsible for kccping ￿U￿1¢1cnt o¢counting records that diÈcloso with raason3bl4Tr *ecuracy at any
time the financial position ol the trust and enable them lo ensure that the financial 51alemenls comply with the
Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the trust deed. They
are also responsible for Safeguarding the assets of the trust and hence lor taking ￿asOnable steps for the
prevention and detection ol fraud and other irregularities.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Opinion
We have audited the financial stalemenls ol Siralfield Saye Preservation Trust Ithe 'trust'l for the year ended 31
December 2021 which comprise the slalement of financial activities. the balan￿ sheet and the notes to the financial
statements. inclLJding a summary ol significant accoLJnting policies. The financial reporting frarnewotl( that has been
applied in their preparation is applicable law and United Kingdom Accounting Slandards, induding Financial
Reporting Standard 102 The Financial Reporting Standatd applicable in the UK and Republic ol Irgland (United
Kingdom Generally Ac¢epted Accounting Practscel.
In our opinion. the financial stalemenls..
give a true and fair view of the state ol the ¢harity'5 affairs as at 31 December 2021 and of its incoming
resoLirces and application ol rèsource5. for the year then ended..
have been properfy prepared in aGGordanGe with United Kingdotn Generally AGGepted Awountin9 PraG11￿,
and
have been prepared in accordan¢e with the requirements of the Charities Act 2011.
Basis for opinion
We conducted OLJr audit in accordance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilitie5 under those standards are further described In the Audilorfs Trsponsibililies for the audit ol
the financial stèt8menls section ol our report. We are Independent of the trust in accordance wrth the ethical
requirements that ale relevant to our audit ol the financial stalernenls in the UK. including the FRC'S Ethical
Standard. and we have fulfilled our other ethical responsibilitie5 In accordance with these requirements. We believe
that the avdil evidence wc have obtaincd ITh¥ ￿UfficiCnt and 8ppropriete to provide 8 bea1¥ for our opinion.
Concluslon$ ￿lating to going concern
In auditing the finan¢ial staternents, we have concluded that the Iruslees, use of the going concen basis ol
accounting in the Preparation of the finanoal slalements 15 appropriate.
Based on the work we have perfomied. we have not identthed any rnalerial uncertsinties relating lo events or
conditions that. individually 01 collectively. may cast significant doubt on the Iru51's ability to continue as a going
concern for a peiiod of al least ￿e1ve months from when the financial slalements are authorised lor issue.
Our responsibilities and the responsibilitiès of thè trustees with respect lo going concem are dèscribed in thè
relevant sections of this report.
Other information
The other information Comprises the information included in the annual report other than the fina￿la1 statements
and our 3uditDrfs réport thereon. The trustees are r•sponsiblg for tho Other infom)31ion containèd within thè annual
report. Our opinion on the financlal statements does not ¢oveT the other information and we do not express any form
of assurance conclusion thereon. Our responsibility 15 to read the other information and. in doing so. ¢onsideT
whether the other information is rnaterially inconsistent with the financial stalernents or our knowledge obtained in
the course of the audit. or otherwise appears lo be materially mis51ated. If we identify such material inconsistencies
or apparent matÈf131 mi5slalements, we are required to determine whether this gives rise to a material misslalèrnenl
in the financial statements Ihernselves. If, based on the work we have performed, we conclude that there is a
material misstatement ol this other information, wè 3rè required to report that fact.
We have nothing lo report in this regard.
Matters on which we are Tequired to report by exception
We have nothing to report in respect of the following matters in relation to whith the Ch8rilies (Accounts and
Reports) Regulali0n5 2008 require us to report lo you if, in our opinioll.
the inforrnation given in the financial statements is inconsistent in any material respect wrth the Iruslees,
report., or
sufficient accounting records have not been kept." oi
the financial statements are not in agreement with the accounting records". or
we have not received all the information and explanations we require for our audit.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Responsibilities of trustees
As explained more lully In ine siaiemeni of irusiees. responsibiliiie5, Ihe rrustees are responsiDie for ine preparaiion
of the financi31 statements and for being satisfied that they give a true and fair view, and for such intemal control as
the trustees deterrnine Is necessary to enable the preparation of financial slalements that are free from material
misstatement, whether due lo fraud or error. In preparing the financial statemen15, the trustees are responsible for
assèssing the trust's ability to continue as a going concern. disdosing, as applicable. rnattefS related to going
concern and using the going concern basis of accounting unless the trustees either intend to cease opèrations. or
have no realistic altemalive bul lo do so.
Auditorfs responslbllities for the audit of the financlal ststements
We have been appointed as auditor under section 144 of the Charitiès Act 2011 and report in accordance with the
Act and rclcvant regulations made or having effgct theraundèr.
Our objectives are to obtain reasonable assurance about whether the financial slalemen15 as a whole are frèe from
material misslalemenl. whelher due lo fraud or error, and lo issue an auditor's report that includes our opinion.
Reasonable assurance is 3 high level of assurance but is not a gu3ranlee that an audit conducted in accordance
with ISAts IUKI will always dgt8Ct g m3t•rial misstatement when il exists. Misstslem&nts Can arisè from fraud or
error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence
the economic deasions of users taken on the basis of these financial statement5.
IrTegulaiilies. including tra¢Jd. are instances of non-compliance with laws and regulation5. We design procedures in
line with our responsibilities. outlined above. to dÈtÈet material misstatements in respect of irregularities. including
fravd. The extent to which our procedure5 are eapable of detecting irregularities, including traud. Is detailed below.
Extent to which the audit was Considered eapablè of detecting irregularities, including frdud
Our approach to identifying and a55essing thè risks ol material misslalement in Tesped of Irregularbties, induding
fraiid 2nd nrJn-p.nmpliAncè with laws and regulatlOll5. was as follows.
the engagement partner ensured that thè engagement team collectively had the appropriate competen￿,
capabilities and skills to identify or reco9ni5e non-eompliance with applicable laws and regulations".
we identified thè laws and regulations applicable lo the company through discussions with Trustees and
other management. and from our knowledge and experience ol the sector,.
we focused on specific laws and regulations which we con51dered may have a direct rnaterial effect on the
financial 518tements or tne operaiions of Ihe charirable cornpany, inciucjing ine Companles Aci 2006. Ihe
Charities Act 2011. the Charities SORP, taxation legislation. data protection. ant￿bribery, employment,
environmental and heatth and safety legislation.,
we assessed the extent ol cornpliance wrth the laws and regulation5 identified 8bove through making
enquiries of management and inspecting legal ¢orrÈspondence". and
identified law5 and regulations were communicated within tho audit team Tegularly and the team remained
alert lo instances ol non-compliance throughout the audit.
We assessed the susceptibility ol the charitable company's financAal statements lo material misstatement, including
obtaining an understanding of ttow fraud might tsceur. by..
makin9 ènqvirios of m2na9•rngnt as to where they considered there wa$ susceptibility to frgud. their
knowledge of actual, suspected and alleged fraud,. and
considenng the internal controls in place lo mitigate risks of fraud and non-compliance with laws and
regulations.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Audit r•spons• to risks identified
To addrc-- Ihc riok of freud through management bia¥ and overrid¢ of Gontrolj. we..
performed analytical procedures to identify any unusual or unexpected relationships..
reviewed all transactions listed.,
assessed whether judgements and assurnplions made in determining the accounting estimates were
indicative of potential bias.. and
investiqaled the rationale behind significant or unusual transactions.
In response to the risk of Irregularities and non-compliance with laws and regulations. we designed proeedure5
which included, bul were not limited to..
agreeing financial statement disclosures lo underlying supporting documenlalion". and
enquiring of management as to actual and potential lrtigalion and claims.
There are inherent limitations in our audrt procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become awaie ol noTroompliance.
Auditing Standards also limit the audit procedures required to identify non-compliance with laws and regulations to
enquiry of the Trustees and other management and the Inspection of regulatory and legal correspondence. if any.
Malenal mi55tatements that arise due to fraud can be hardèr lo detect than those that arise from error as they may
Involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Finanijal Reporting Council's website al.. https.'Il
www.frc.org.uklauditOTsresponsibilities. This description foms part of our audilorfs report.
Use of Ouf rèport
This report is made solely lo the charity's trustees. as a body. in accordanoe with part 4 of the Gharilies IAccounts
and Reports) Regulations 2008. Our audit work has been undertaken so th31 we might state to the charity's Iruslees
those matters we are required to stale lo Ihein ii) ai) <iudituT's Ivyuil tiiid lui liv vlli¥i puiptiiv. Tv Iliv full¥bt vxleiil
permitted by law. we do not accept or assume responsibility lo anyone other than the charity and the charity's
Iruslee5 as a body, lor our audit work. for this report. or for the opinions we have formed.
Christophèr Cairn¥ BS¢ FCA (Senior Statutory Audltorl
for and on bohalf ofAlliotts LLP
2511012022
Chartèred A¢¢ountsnts
ststutory Auditor
Friary Court
13-21 High Street
Guildford
Surrey
GU13DL
Alliotts LLP is eligible for appointment as auditor of the trust by virtue of its eligibility lor appointment as audit()i of a
company under section 1212 of the Companies Act 2006.

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
unmtrietèd Unresiriaeo
funds
funds
2021
2020
Notss
Donations and legacies
Charitable actiwlies
Investments
Other income
331,233
1,789
77,711
61,088
181,406
11101
76.432
30,414
Total ineom•
471,821
288.142
Investment managernenl fees
22,108
21.￿4
Charitable 8Ctivi(ies
576,832
545.416
Total resour¢¢$ expended
598,940
566.480
Net gainslllosse51 on investments
11
798,099
217,793
Nèt movement in funds
670,980
160,5451
Fund balances al 1 January 2021
5.177.970
5,238,515
pund balances at 31 Dècember 2021
5,177,970
The stalemenl ol financial activities includes all gain5 and losses recognised in thè year.
All income and expenditure derive fitsm continuing activities.

STRATFIELD SAYE PRESERVATION TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Note3
Fixed assets
Tangible asse15
Investments
12
13
874.853
5.625.926
319.139
5,557.168
6,500,779
5,876.307
Currnnt as$ets
Stocks
Debtors
Cash al bank and in hand
15
16
4,472
29,599
45,002
4.557
32.306
47.320
79,073
84.183
Creditors: amounts falling due within
one year
18
1730.9021
1782,5201
Net current liabilities
1651,8291
1698.3371
Totsl assets less current liabilities
5,848.950
5,177,970
Incom• funds
Unrestricted funds
5.846.950
5,177,970
5,848,950
5.177.970
The financial slalemenls were approved by the Trustees on 1711012022
Trustoo Baron Von Westenholz

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting pollcles
Charity information
Stratfield Saye Preservation Trust is a chaiilable trust established on 26 June 1984 and is a registered charity
Ino. 2898221.
1.1 Accounting convention
The finanaal slalements have been prepared in accordance with the Iru51'5 Igoveming documentl, the
Charitie5 Act 2011, FRS 102 "The Financial Reporting Standard applicable In the UK and Republic ol
Ireland" I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Chanlies.. Statement ol
Recommended Pf8Ctiee applicable to charities preparing their accoun15 In accordance with the Financial
Reporting standard appiic2bie In the UK Republlc of Ireland IFRS 1021" (effective l January 20191. Tli
IrLssI is a Public Benefit Entity as defined by FRS 102.
The trusl has taken advantage of the provision5 in the SORP for charitie5 not to prepare a Statement of C8sh
Flows.
The financial statements are prepared in slerfing. which is the functional currency of the trust. Monetary
amounts in these financial 51alements are rounded lo the nearest £.
The financial 51alements have been prepared under the historical cost ¢onvenlion. modthed lo indudo the
revaluation of inv¥btiiiviil& di)d certain finanGi81 instruments at fair value. The principal accounting polirie¥
adopted are set out below.
1.2 Going concern
Al the time of approving the financial statements, the trustees have considered the irrpact of Cowd 19 and
nave a reaso￿able expeGliltivii tlidl Iliv Iiubl l)as ade9Uate resourGes to continue in operational existence for
the foreseeable future. Thus the Iruslees continue to adopt the going concem basis ol accounting in preparing
the financial statements.
1.3 Charitable funds
Uniestricied funds are avaiiaDle for use ai rhe discretion of Ihe Iiuslevb iii fuilliviaiice of their tharit6ble
objeclives.
Restricted funds are subject to specifie condrtions by donors as to how they rnay be used. Thè purposes and
uses ol Ihe resln¢ted funds are sel out in the notes to the fin8ncial slalemenls.
Endowment funds are subject10 5pecifi¢ conditions by donors th81 the capital musl be maintained by the trusl.
1.4 Income
Income is re¢ognised when the Irvsl is leoally entitled lo il after any performance conditions have been met,
the arnoun15 ran be measured reliably. and it is probable that income will be received.
Cash donation5 are recognised on receipt. Other donations are recognised once the trust has been notified of
the donation, unlèss perforrnan￿ conditions require deferral ol the amount. Income tax recoverable in relation
to donations received under GiftAid or deeds of covènant is recognised at the timè ol the donation.
Legacies are recognised on re￿Ipt or otherwise if the trust has been notified of an Impending distribution, the
amount is known, and receipt is èxpected. If the amount is not known, the legacy Is treated as a conlingenl
asset.

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies
Icontinuèdl
Income from goveinrnenl grants is recognised al the fair value of the asset received or receivable when there
is reasonable assurance that the grant conditions will be mèt and the gran15 will be received. A grant that
specifies performance conditions is recognised in income when the performance conditions are met. ￿￿ere a
grant does not speoify performance conditions il is recognised in income when the proceeds are recewed or
receivablè. A grant received before the recognition critaria are satisfied is recognis8d as a liability.
1.5 Expenditure
Incorne and expenses are included in the financial staternents as they become receivable or due.
Expenses exclude VAT where thi5 is recoverable by the charity.
Resources expended are included in the Statement of Financial Activities on an acLruals basis and are
allocated to a specific activity where costs rèlaté directly to that activity.
Ctssts of generating funds are the costs diractly attributable to raising funds.
Charitable expenditure includes all costs directly relating to the objectives of the charity and the costs involved
supporting that work.
Support costs include those costs connected with the manaqernenl of the charity's assets, organisat'onal
management and administration and cornpliance with constitutional and statutory requirements. Expenditure
on support costs of the charity includes all expenditure not diredly related to the charitable activity or
fundraising ventures. These are apportioned to the other activitiès b3sed on tirne spent performing the
actiwties.
1.6 Tangible fixed assèts
Tangible fixed a55els are initially measured at cost and 5vb5equenlly measured al cost or valuation. net of
depreciation and any irrpaimienl losses.
Depre¢ialion 15 recognised so as lo wrrte off the ¢osl or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildin9$
Fixture5. fittings and equipment
Heritage assets
5 /0 straight line
Heritage assets are not depreciated as they are considered lo have an indefinite useful lrfe.
The 9ain or loss arising on the disposal of an asset 15 determined as the difference betwèen the sale proceeds
and the carrying value of the asset, and 15 recogni5ed in net incomellexpenditurel for the year.
1.7 Flx•d asset investments
Fixed asset investments are initially measLJred al transaction price excluding transaction costs, and are
subsequently measured al lair value al each reporting date. Changes in fair value are recogn￿Sed in net
incomollexpènditurÈl for the ycar. Transaction costs arc cxpenved 93 incurred.
A subsidiary is an entity controlled by the trust. Control is the power lo govern the financial and operating
poli¢ies of the entity so as to obtain benefrts from rts activities.
1.8 Impaimient of fixed assets
At eaeh reporting end date. the trust reviews the carrying 3moLJnts of its tangible assets to determine whether
there is any indication that those assets have suffered an impairment loss. If any such indication exists, the
recoverable amount ol the asset 1$ estimated in order to determine the extent of the impairment10s5 lif anyl.
10-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting poli¢i•s
(Continued)
1.9 Stocks
Stocks are slated at the lower of cost and estimatèd selling price less costs to complete and sell. Cost
comprises direct materials and, where applicable. direct labour wsls and those overheads that have been
incurred in bringing the stocks lo their present location and condition. Itern5 held for distribution al no or
ominal con5ideraliuii dfe IFl¥dbuittd Ili¥ Ivwei of ieplaGenieiit GOSt and Gost.
Nel realisable value is the estirllaled Selling price less all estimated costs of completion and costs to be
incurred in marketing. selling and distribution.
1.10 Cash and cash eqyivalènts
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-temi liquid
inve5ttnents with original malurilies ol three months or less, and bank overdrafts. Bank overdrafls are shown
within borrowings in current liabilitie5.
1.11 Financial instrumènts
The trust has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 '0ther
Financial In51rurnents Issues, ol FRS 102 to all of its financial instruments.
Financial instruments are recognised in the twst's balan￿ sheet when the trust becomes paty lo the
contractual piovisions ol the instrument.
Financial assets and liabilities are offset. wrth the nel amounts presented in the financial slalemenls. when
there is a legally enforceable right to set off the recognised arnounls and there is an intention to settle on a nel
basis or to realise the 855el and settle the liability simultaneously.
Basi¢ financlal assets
Basic financial assets. which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at arnortised cost usin9 the effective
intere51 mèthod unless the arrangement constitutes a financing Iransaclion, where the Iransaction 15
me8¥ured Elt thc prcvcnt value of the futurè racoipts discounlod at a mark4tl rate of interest. F*nancial asset$
classified as ieceivable within one year are not amortised.
Basic financial Ilabilities
Basic financial liabilities, including creditors and bank loans are initl8lly reeognised at transaction pri￿ unless
the arrangement conslitutcs a financing tran￿￿¢t10Th. wherc the debt instrument IÈ mèasurod at th8 prosenl
value of the future payments discounted al a market rate of interest. Financial liabililies classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at arnort15ed cost. using thè effective interest rale method.
Tiadè creditors are obligation5 to pay for goods or services that have been a¢quired in the Ordin￿ course ol
operations from supplier5. Amoun15 payable are classified as current liabilitie5 il payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al amortised cost using the effective interest method.
Dere¢ognftion of financial liabilitiès
Financial liabilrties are derecogni5ed when the Irusl's contractual obligations expire or are discharged or
cancelled.

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Ae¢ounting policies
(Continued)
1.12 Employee benefits
The cost of any unused holiday entitlernent is recognised In the period in which the employee's seNices are
received.
Termination benefi15 are re¢ognised immediately as an expense when the trust is demonstrably commimed to
temiinate the employment of an ernployee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined contribution retirement benèfrt schemes are charged as an expensè as they fall due.
Critical accounting estimates and judgements
In the application of the trust's accounting policies, the trustees are required lo make judgements. eslirnales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The eslirnales and associated assumpiions are based on historical experience and other factors that
re considered lo be relevant. Actual ie5ults may differ from theso es1imale5.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates ale recognised in the period in which the estimate is revised where the ievision affects cfily that
pèriod, or in thg poriod of Ihè rèvi$itsn and future pcrIod￿ whcrc thc rC￿￿10n Bffcd3 both ¢vrrent end future
periods.
A key eslirnation in the accounts is that the heriiage assets have an indefinite useful life, giviry rise lo no
depreciation in the year.
Donations and lègacie¥
Unrestricted Unrestricted
funds
funds
2021
2020
Donations and gifts
Government grant income
329.000
2,233
140,000
41,406
331.233
181,406
Govèmmenl grant income relates to the job retention scheme and rates grants received in the yearto support
the charity through the coronavirus pandemic.
12

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2021
Choritable activitles
2021
2020
Admissions
Shtsp
1,621
168
11251
1,789
Investm•nts
Unrestricted Unrestricted
fund$
funds
2021
2020
Rental income
Income frorn Iisled investmenls
Interest receivable
46.800
30,909
40.138
36.294
77,711
76,432
Oth•r Income
Unrestricted Unrestricted
funds
funds
2021
2020
Other income
61,088
30.414
13-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Charitsble activitie¥
Admissions Admissions
2021
2020
Repair5 and maintenance
Premises in5urarice
199,053
53,440
157.661
45.758
252,493
203.419
Share of support costs Isee note 81
Share of governance costs Isee note 81
318,609
5,730
336,157
5.840
576.032
545.416
Support¢osts
Support Governance
co$Ts
2021 Support cos15 Governance
05TS
2020
Staff costs
Depreciation
Rent, rates and utilities
Other staff costs
offi￿ costs
Motor runnin9 expenses
Travel and sub$i$lence
Insurance
Bank charges
Sundry expenditure
Garden costs
Legal ano professional
fees
190.014
64.388
39.306
616
15,125
708
190.014
64.388
39.306
616
15.125
708
206
7,341
792
239.730
29.347
43.571
1.843
14.724
122
545
3,285
680
35
1,947
239,730
29.347
43,571
1,843
14,724
122
545
3,285
680
35
1,947
7.341
792
13
13
328
328
Audit fees
5,730
5,730
5,840
5,840
318,609
5.730
324,339
336.157
5.840
341.997
Analysed between
Charitable a¢livilies
318.609
5,730
324,339
336,157
5,840
341.997
Governance costs includes payments to Ihe auditors of £5.73012020- £5,840) lor audit fees.
Some ol the TIu5tS 5UPPOrt function are provided without charge by Straffield Saye Estate. This support
includes the finance function. house opening and property matters amongst others. Due lo Ihe nature and
variability of thi5 SUPPOrt the Truslees do not consider thal it is possible to quantify or measure the value of the
support and so no amounts have been included In donations nor corresponding costs lo reflect this.
14-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Trustees
None of the trustee5 {or any persons connected with them) received any remLJneration or benefits from the
trust during the year12020". none were reimbursedl.
10 Employ*e$
The average rllonthly number of employees during the year was".
2021
Numbèr
2020
Number
Full litne staff
Part time statt
Stewards
Total
10
13
Employment costs
2021
2020
Wage5 and salaries
Soeial security costs
Other pension costs
170.035
13,916
6.063
215,849
16,260
7,621
190,014
239,730
The employee number for Guides above is the average over the year. Guides. however, are only used
during the months of May and September, where 16 and 14 people were employed, respeetively. During the
year thèse guides remained in employment by the trust. however were furloughed due to lockdowns. As a
result. they are still induded in the average employees calculation.
There were no employees whose annual remuneration was £60,000 or more.
11 Net gainslllo$$e$l on Investments
Unrestriet•d Un￿strICted
lunds
funds
2021
2020
Revaluation ol investments
Gainlllossl on sale of investments
776,600
21.499
224,927
17,1341
798.099
217.793
15-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
12 Tangible fix•d assets
FrgBhoio land
and bulldings
Flxtures.
rittlngs and
equlpment
Merttage
assets
Total
Cost
At 1 January 2021
Additions
26,600
360,852
919
150,844
619.183
555,106
620,102
At 31 December 2021
25,500
370,771
779,027
1,175,298
Depreciation and impairment
Al 1 January 2021
Depreciation charged in the year
236,057
64.388
236,057
64,388
At 31 December 2021
300.445
300.445
Carrying amoLtnt
Al 31 December 2021
25,500
70.326
779.027
874.853
At 31 Dcccrnbcr 2020
25,500
133,795
159.844
319.139
Heritage assets brought forward are held at Christie's 2008 valuation figure. Their historical cost was
£189,844.
13 Fixed asset investmènts
Listed
investments
Cash in
Othèr
portfolio invèstments
Total
Cost or valuation
Al 1 January 2021
Additions
Valuation changes
Disposa15
4,730.847
222,573
819.613
1649.9581
826.320
5.557.168
222.573
496,143
1649,9581
1323,470)
Al 310ecember 2021
5,123.075
502,850
5.625,926
Carrying omDunt
Al 31 December 2021
5,123,075
502.850
5,625,926
Al 31 December 2020
4,730.847
826.320
5.557.168
2021
2020
Other investments compn5e'.
Nots¥
Invèstmènts In subsidiaries
20
16-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
14 Financial instruments
2021
2020
Carrying amount of financial assets
Instruments measured at fair valLJe through profit or k)ss
5.123,075
4.730.847
15 Stocks
2021
2020
Finished goods and goods for resale
4.472
4,557
16 Debtors
2021
2020
Amounts falllng due within one year:
Trade debtors
Other debtors
Prepayments and accrued incorne
1.836
6.638
21,125
3.249
7.657
21.400
29,599
32,306
17 Loan$ and ovèrdrafts
2021
2020
Other loans
Note 18
700.000
700.000
Payable within one y&ar
700,000
700.000
The loan is interest-free, unsecured and repayable on demand.
18 Creditors= amounts falling due within one year
2021
2020
Borrowings
Other laxalion and so¢ial security
Tiade Crèditors
Other creditors
Accruals and deferied incorne
Not• 17
700.000
2,951
6,461
724
20,766
700,000
3,679
14.242
550
64.049
730.902
782.520
17-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
19 R•latèd party transactions
The eharity has a £700.000 loan from a family charitable trust which has been in place for over 15 years but is
Tepayable on dtrrnand.
There were also some transactions with other entities of which one of the trustees is a Iru51ee or a director,
surnmarised below..
Net recharges (for costs and wagesl made from the Wellington Estate lo the trusl lolalled £77,060 12020..
£75.0821. At the year end a net £1.47312020.. £7,702) was owed by the trust.
Net recharges of £41.993 12020". £25,444 credit) were made from the Irust to Ihe Straffield Saye Fam). Al the
year end a net £1,60012020'. £nill was owed by the trust.
Nel ieGharge5 01 £1.98012020.' £1,556 credit) were made from Wellinglon Country Park Lirnited lo the trust
and the year end balance was £18812020.. £1291 owed by the trust.
£37,200 12020.. £37,200) was charged by the trust to Wellington Estates Education Limitèd for rent. £Nil
12020.. £nill was owed to the trust at the year end.
20 Subsidiaries
These financial statements a￿ separate trust financial 5ts1ements for Stralfield Saye Preservation Trust.
Details of the trusl's subsidiaries at 31 Decernber 2021 are as follows..
vf uiid¥rL&kiii¥
R¢yi¥tered
offieè
NatYl¢ gf bu>ines5
Class of
•har•s hèld
Direct Indirect
Slratfield Saye Preservation The Eslale
Limited
Office, Slraffield
Saye,
Hampshire, RG7
2BT
Trading subsidiary
Ordinary
100.00
18-