## ## |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| ## ## ## ##