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2022-12-31-accounts

Trustees		The Duchess ofWellington	The Duchess ofWellington	The Duchess ofWellington
		Baron Piers	von Westenholz
		The Hon. Edward		Olive
		Lady Rachel	Billington
		The Earl ofAntrim
Charity number		239822
Auditor		Alhotts LLP
		Friary Court
		13-21 High Street
		Guildford
		Surrey
		GLt1 3DL
Solicitors		Blandy SBlandy Solicitors
		One Friar Street
		Reading
		Berkshire
		RG1 1DA
Investment	advisors	Rothschild	&Co.
		New Court
		St Swithen's	Lane
		London
		EC4N BAL

		Page
Trustees' report
Statement oftrustees'	responsibilities
Independent auditor's	report	4-6
Statement offinancial	activities
Balance sheet
Notes to the financial	statements	9-16

					Unrestricted Unrestricted	Unrestricted Unrestricted
					funds	funds
					2022	2021
				Notes	8
income and endowments			from:
Donations and	legacies			3	247,044	331,233
Charitable actiVities				4	25,312	1,789
Investments				5	71,516	77,711
Other income				6	28,501	61,088
Total income					372,373	471,821
E~dlt
Investment management			fees		21,086	22,108
Charitable activities				7	513,677	576,832
Total expenditure					534,763	598,940
Net gains/(losses)		on investments		11	(421,793)	798,099
Net movement	in	funds			(584,183)	670,980
Fund balances	at 1 January 2022				5,848,950	5,177,970
Fund balances	at	31 December 2022			5,264,767	5,848,950

			2022		2021
		Notes	6	6	6
Fixed assets
Tangible assets		13		846,641		874,853
investments		14		5,094,814		5,625,926
				5,941,455		6,500,779
Current assets
Stocks		15	3,658		4,472
Debtors		16	36,872		29,599
Cash at bank and in	hand		27,441		45,002
			67,971		79,073
Crediiors: amounts	falling due within
one year		18	(744,659)		(730,902)
Net current liabilities				(676,688)		(651,829)
Total assets less current liabilities				5,264,767		5,848,950
income funds
Unrestricted funds				5,264,767		5,848,950
				6,264,767		5,848,950

Freehold	land and buildings	NII
Fixtures,	fittings and equipment	5k straight	line
Hsriitage	assets	Nil
I-leritags	assets are not depreciated as they are considered		to have an indefmits	useful life.

4	Chadtable	activities
			2022	2021
			6	6
	Admissions		20,591	1,621
	Shop		4,721	168
			25,312	1,789
5	Investments

		Unrestricted	Unrestricted
		funds	funds
		2022f	2021 6
Rentai	income	37,200	46,800
Income	from listed investments	34,267	30,909
Interest	receivable	49	2
		71,516	77,711

Other	income
		Unrestricted	Unrestricted
		funds	funds
		2022	2021
			6
Other	income	28,501	61,088

7	Charitable activities
							Admissions	Admissions
							2022	2021
							f	E
	Repairs snd maintenance						108,168	199,053
	Premises insurance						56,242	53,440
							164,410	252,493
	Share ofsupport costs (ses		note 8)				340,517	318,609
	Share ofgovernance	costs	(sse note 8)				8,750	5,730
							513,677	576,832
8	Support costs
			Support	Governance	2022	Support	Governance	2021
			costs	costs		costs	costs
			E	E			E
	Staff costs		227,643		227,643	190,014		190,014
	Depreciation		23,612		23,612	64,388		64,388
	Rent, rates and utilities		54,821		54,821	39,306		39,306
	Other staff costs		633		633	616		616
	Ofgce costs		20,121		20,121	15,125		15,125
	Motor running expenses		3,477		3,477	708		708
	Travel and subsistence		906		906	306		306
	Insurance		7,996		7,996	7,341		7,341
	Bank charges		655		655	792		792
	Legal and professional
	fees		653		653	13		13
	Audit fees			8,750	8,750		5,730	5,730
			340,517	8,750	349,267	318,609	5,730	324,339
	Analysed between
	Charitable activities		340,517	8,750	349,267	318,609	5,730	324,339

		2022	2021
		Number	Number
Full time staff
Part time staff
Stewards
Total		10	10
Employment	costs	2022 6	2021 6
Wages and salaries Social security costs		210,173 12,107	170,035 13,916
Other pension	costs	5,363	6,063
		227 643	190014

Net gainsi(	loss	es) on investments
			Unrestricted Unrestricted
			funds	funds
			2022	2021
			F	6
Revaluation	of	investments	(421,793)	776,600
Gain/(loss)	on	sale of investments		21,499
			(421,793)	798,099

Tangible fixed assets	Tangible fixed assets
			Freehold	land	Fixtures,	Heritage	Total
			and buildings		fittings and	assets
					equlprnent
					E
Cost
At 1 January	2022		25,500		370,771	779,027	1,175,298
Disposals					(13,500)		(13,500)
At 31 December 2022			25,500		357,271	779,027	1,161,798
Depreciation	and impairment
At 1 January	2022				300,445		300,445
Depreciation	charged	in the year			28,212		28,2'l2
Eliminated in	respect ofdisposala				(13,500)		(13,500)
At 31 December 2022					315,157		315,157
Carrying amount
At 31 December 2022			25,500		42,114	77S,027	846,641
At31December 2021			25.500		70,326	779,027	874,853

		Listed	Cash In	Other	Total
		investments	portfolio	investments
		E
Cost or valuation
At 1 January 2022		5,123,075	502,850		5,625,926
Additions		198			198
Valuation changes		(421,870)	(109,440)		(531,310)
At31December 2022		4,701,403	393,410		5,094,814
Carrying amount
At 31 December 2022		4,701,403	393,410		5,094,814
At 31 December 2021		5,123,075	502,850	1	5,625,926
				2022	2021
Other investments	comprise:		Notes	E	E
Investments In subsidiaries			20

15	Stocks
							2022f	2021f
	Finished goods and goods for resale						3,658	4,472
18	Debtors
	Amounts falling due	within	one year:				2022f	2021f
	Trade debtors						27	1,836
	Amounts owed by subsidiary		undertakings
	Amounts owed by fellow group undertakings Other debtors						643 5,272	6,638
	Prepayments and accrued income						30,886	21,125
							36,872	29,599
17	Loans and overdrafts
							2022	2021f
	Otherloans					Note 18	700,000	700,000
	Payable within one year						700,000	700,000
	The loan is interest-free, unsecured			and repayable	on demand.
18	Creditors: amounts	falling	due within one year
							2022f	2021f
	Borrowings Other taxation and social security					Note 17	700,000 3,485	700,000 2,951
	Trade creditors						21,427	6,461
	Other creditors						740	724
	Accruals and deferred	income					19,007	20,766
							744,659	730,902