## **Stratfield Saye Preservation Trust Annual Report 2023** 

The Trust has continued to keep the House and the main outbuildings in a good state of repair.  Each year a freelance painter is employed for around 4 weeks to do the external painting. This year painting to the windows and front door elevation were undertaken, along with some limewashing. 

Works have restarted on the attics and continue. 

The Coach House at the Western end of the North Stables was leaking rather seriously. All objects stored in the Coach House were being damaged by water ingress. The whole of the Western end is now being reroofed. The cost will be shared between the Landlord and the Preservation Trust. 

In February it was decided to put the 1st Duke’s Coach used at Coronations on public display for the season. It was restored by Fairbourne Carriages, based in Kent, at considerable expense. When returned, it was put on display in a tent near the Visitor’s Centre. 

During this Coronation year, the 1st Duke’s Coronation robes and those of his two sons were lent to English Heritage for display at Apsley House. Some minor repairs were undertaken by Alex Seth-Smith at The Textile Conservancy. The loan of the robes to English Heritage will continue to March 2024. 

The House Manager has not been replaced as yet. A part-time Housekeeper was employed in April 2023. The new Head Gardener who started in April 2023 has not worked out and recruitment for a replacement is underway. 

In anticipation of potential increased public access, the extension of the gardens and pleasure grounds are being explored. 

The investment portfolio had a value of £5.2 million at the time of writing. 

Usual Easter and Summer opening of the House took place. 

DBS checks continue to be carried out on all staff across the Estate to further improve safeguarding. 

Helen Williams Managing Director September 2023 



Charlty voglstratlon n￿lbor 289822
STRATFIELD SAYE PRESERVATION TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

STRATFIELD SAYE PRESERVATION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tntst•es
The Du¢he$s Of￿111n91on
The Hon. Edward Cliva
Lady Rachel Billington
The Earf ofAntrim
Charity number
289822
Aud6tor
Alliotts LLP
3 London Square
Cross Lanès
Guildford
GU1 1UJ
Solicito
Blandy & Blandy Soli(itors
One FrSar Street
Reading
Berkshire
RG1 1DA
Inv•skn•nt advijors
Rothschild & Co.
New Court
St S￿hen,$ Lane
London
EC4N 8AL

STRATFIELD SAYE PRESERVATION TRUST
CONTENTS
Page
Trusteey. report
ststemenl of Iru8teè8' respon$bi iliti"e$
Independent audhofs ￿port
Statement of finanrAal aclivities
Balanca sh881
Notes lo thè fin8nci813talements
9-19

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The tru8leè8 present their annual rgport and finaneial statements for the year 9ndgd 310￿mber 2023.
The financrdl slatsm&nls have been PTepaTed in accordance wlh the accountwig ￿l¢AeS set out in note 1 to the
financAal statements and compty wlh the twsfs goveming document, the CharitiesAct 2011 and"Ac4x*LFnling and
Roporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accoTdance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021" (èffective 1 January 2019).
Oblectlv•s and acdvldel
The Straffield Sayè Pies8N81ion TIu3t is conslituled under a trust deed dated 26 June 1984 and is a registered
harity (number 2898221.
The main objective3 of the charity are maintaining and restorin9 Stratfield Saye House and rf$ grounds and il¥
¢h8tte15 and archives relating to Ihg First Duke of Welllngton and openlng the house lo th8 publi¢.
The Iruslees who have served during the year and Sin￿ the year-end are 8el out ori Legal and Administrative
Irrformation page. The minimum nurnber of Iruslees is three, and add￿"Onal Iwslees may be appointed at any
time. The trustees rneel once a year where decisions are discussed aThJ taken wth any minor dec4sions being
lakgn by the trustees. agent following ￿ns￿lIatiOn with o minimum of two Iruslees.
Relatlonshlp between eharlty and rolated Par￿68
A majority of the INstees are independent of the Vvellesley family. All trans￿10￿5 With straff￿ld Saye Estate we
carried out on an am).8 length basis.
InvÈ•tm¢nt Perfomianc•
The trustees, investment portr0￿0 is held and managed ty 8 leading investment ba￿ Rolhschikl & ￿ and the
portfolio is regularfy reviw•d.
The totsl value of investments increased in 2023 from £5,094,814 to £5,300,089. During the year £200.000 was
drawn down and there were realised and unr•alised investment gains of £388.858. Income continues lo b8
gener8led by let property. admissions and donations.
Rwiiew of tho y•ar
The charity carried oul nomal repairs lo the fabric of Straffield Saye House and wo￿6 ofat
Slraffield Saye Housè was open to the pubfie during the Easter and Summer of 2023.
Straffi91d Saye House and its grounds ar8 maintained by the trustoes in a good state of repaw without recourse to
any grants. The hous8 is op8n to the public and the level of visitor satisfaction is high. The trustees confimi they
have paid due regard lo guidance i$$ued by the Charity Ctsmmi$$ion in deoding what aclivilies the trust should
undertake.
AchS•v•nRnts and perlomwnce
Fundralslng •¢tlvlt40
The d)aiitys rnain fund raising aciNiti&s are from dOn￿l0￿S and from investrnent income. No prolessional fund
raisèrs are usèd by the charity.

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financlal rovlow
Reserv￿ Policy
11 is the policy of the trust to maintain a fund suffic4ent to produce an incLJme lo maintain the fa￿[C and grounds of
Straffield Saye House. The trustees hokl an invesiment portfolio and drawdown 4% 01 this each year t)r the
8nnual expenditure of Ihe trust. The income for the year was £424.806. Totsl expenditure for tho year was
£662,431. The in￿$￿ent gain of £388.856 resulttrd in ¥ ntrt surplus for the year of £151,231. Al the year end
free reserve$ Including investrnenls of £5.300.089 and a loan of É700.000 lotslled £5.415,998.
Thè trust holds a fund suffiuènt enough to cover half of the annual expenditur& of the trust It is the medium tann
aim lo reach enough to cover all costs of approxim8lely £550.000.
The trust Currently holds fixed a53ets of £6.1m i￿l￿dIng inv8Strnenls. It is the intention of the trustees to try and
add lo Ihis figure so as to provide for thg full Tunning costs of the charity, bul in the medium term will need to
¢onts"nue lo r•ly on donatw)n$.
Rlsk a$$•8¥ment
Th& house has a Modem fre and burglar alarni system. An annual heamh and safety in$pectKJn is carried out
109glher with a risk assessment. An 8l&ctrical installation inspection is carried out 5 yaarty, wrfh poriable
appliance testing bein9 carri￿ out annualty. Atl staff receive appropriat• training.
Plan$ for tho futur•
The trustees will continue lo M￿ntaIn Straffi¥ld Say8 Hous8 and tho colledion of w0￿S ofart in the WelliTh3lon
Collection and lo op&n the house to the puL4ic.
Structure, governance and management
The trustees who served during the year and up lo the dale of signature of the finanrAal statements were..
The Duchess of Wtrllington
Baron Piers von W&stgnholz
Thg Hon. Edward Clive
Lady Rachel Billinglon
The Earf ofAntrim
(Resigned 26 Juty 20241
Trustees are appointèd by the Duk&, as per the Twst Deed. A $kill$ audr( 1$ ¢3rried out annually lo id¥ntify gaps
in the sknlls sets of gxisling trustees.
None of the trustees has 8ny benefiti81 interes* in the charity. All of Ihe trustees are members of the charity.
The trustees, report was approvad by the Board of Trustees.
Thè Earl o
Trusleo
ntrim
Oatèd.. aili.....l*x*

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are responsible for preparing the Trustèes, Rèport and thè finaneial statements in accordartt wlh
appllcablè law and United lfjngdom Actounting Standards (United Kingdom Generalty Ac(*pted Accounting
PractiC81.
The law appllcable to charits'e$ in England and Wales requires the Iruslees to prepare finantial slalements for oach
finanekql year which give a true and fair view of tho state of affairs of th8 trust and of the incomiThJ resources and
gpplication of resources of the trust for that year.
In Preparin9 these finanaal ststgm¢nl$, the Iruslo0$ a￿ wuired to..
- se18Ct suitable accounting policie5 and then apply them cY*nsistenlty'.
- observe the methods and principles in the Charities SORP-
- make judgen*nls and 8s¢imate$ tho1 arg reasonable and prudent,.
- state whether appli¢atAo a¢¢ounting standards have been followed, subject lo any material departures disdosed
and explalned in the ffinancial statements.. and
prep*e the firkancAal statements on the goin9 concern basis unles$ il 1$ inappropriate to presurre that the charity
will continue in operatKJn.
The trustees are responsible for keeping 5uffii¥ent accounting records that di8doBe with rea8onable acrJJracy al any
tima thg financial posrtTon of the tru51 and enable them lo ensure that the financial statements comply wlh the
Charities Ad 2011, the Charity (Acxounts and Reports) Regulations 2008 and Ihe provisions of th8 trust d8ad. Thèy
a￿ also responsible for safeguardin9 the assets of tha trust and hancè for t8king reasonable steps for Ihg
Prevent￿ and detection ol fraud and ot￿r irregul*iti"e&

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Oplnlon
We have audited thè financial statements of Straffield Saye PreseNation TTVSt {the Irust'l for lh• year 8nded 31
Dacèrnber 2023 which comprise the statement of financial actwities, the balanee sheet and the notes to the financial
slatements, induding a summary ol $ignifi¢anl a¢¢ounling poli(a&s. Thg finanoal rewjrting framework that h8s boon
applied in their preparation is applicablè law and Unrted Kingdtsm A¢¢ounling Slandxrds, induding Finan¢ial
Reporfing Stsndard 102 The Financial Rel￿rting Stsndanl applicable in the UK and RgpublK of lrnland {Unit8d
Kingdom Generdlly Accepted Accounting Practice}.
In our opin￿n, the financial statsments..
give a true and fair vi8w of the state of the tharity's 8ffairs es al 31 December 2023 and of its incoming
resources and 8ppli¢ation of r¢$ources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Ganerally A¢¢gpted A¢counling practi￿.,
and
have been prepared in accordancg wrfh th* requirem•nl$ of th• Charrfies A¢i 2011.
Basis for oplnl¢n
We o)nducted our audlt In 8¢cordance wlth IntemaJonal Stsndards on Audrtlng {UK) IISAS (UK)) and appllcable
law. Our rgspon$ibililie$ under those standard5 are fijrther described in the Auditorfs responsibilities ft>r the audit ol
the finan￿&1 statefflents section of our report. We are independent of the trust in acLordance wlh the ethical
requirements that are relevant to our audit of tho financial statements In the UK. Induding the FRC'S Ethi¢al
Standard, and we have fulfilled our other èlhieal rèsponsibilitiès in accordane¢ wlh the￿ requiréments. bèk'eve
that the audit gvidencg w& have obtsin8d is sufficient and appropriate lo provide a basis for our opinion.
Con¢lu¥ions relating to going concern
In auditing the financial statements, we have concluded that the trustees. use of the going ojncem basis of
o¢counling in the preparation of the financial statements is appropriate.
Based on the work we have perfomed. we have not Id8nlrfl&d any materbal un¢ertai)lies relating to events or
conditions Ihat. sndiwdual￿ Of colle¢livety, may cast significant doubt on the Iwsfs ability lo continue as a going
concèm for a period of al least twelve months from vthen the financAal statements are authorised for issue.
Our responsibililies and the responsibl￿tIeS of the Iruslees with re$pe¢t to going ct)n¢em arg describgd in thg
relevant sections of this raport.
Other inforniation
The olh¢r infomalion compwises the information induded in the annual report other Ihan Ihe fInar￿la1 Statements
and our audth¢s reporl thereon. The trustees are responsible for the other infomiation contained within Ihe annual
raport. Our opinion on the financial statements does not cover the other infomialion and we do not express any form
of assurance conclusion thor8on. Our r&$pon$iblity 1$ lo read the olher infomiatwn and. in doing so, considfjT
whether the other information is materially ineA)nsistenl wth the finan￿81 stalemènls or our knowledge obtained in
the cL*urse of the aydil, or otherwise #ppears lo be materially misstated. If we identify such material inconsistencie8
or Apparent material mi55talernenls. we are required lo determine whelher this gives Tise to a materBI misstatement
in the financk21 statements themselves. If. based on the work we have perfomied, we Gondude that there is a
material misstatement of this other informat￿. we are required lo report that fa¢L
We have nothing lo report in this regard.
Mattern on which we are requirèd to r•port by èxe•ptlon
We have nothing lo report in respect of the following matters in relation lo which the Charib•s (Accounts and
Reports) Regulations 2￿8 require us to report to you if, in our opinion."
the information given in the financial stslemenl$ 1$ inconsistent in any material resF¢¢t the trustees.
report., or
sufficient accounting records have nol b99n kept.. or
the financial slalements are not in agreement with the accounting records,. or
we have not received all the irrformalion and explanations we require for our audit.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Rgspon$lbiliti￿ of trustees
As explained more fvlly in the ststement of truslee8' responsibilities. the trustees a￿ responsible for the preparation
of the finan¢ial slat&menls and for being satisfied that they give a true and fair view, and for such intemal ￿ntrol as
the trustees dètemiine is necessary lo enabl8 the preparation of finanaal stat8m&nts Ihat are fre8 from material
misstatement, whether due to fraud or error, In preparing the financial $talemenl$, the trustee$ are ￿ $ponslble lor
assessing the trust's ability to continue as a going ¢on¢em, dis¢losing, as appli￿l￿e, matters related to going
¢oncem and using Ihe going concern basis of acco￿b.￿9 unless the truste88 either Intend to ¢ea8e cgerathjns, or
have no realisti¢ aliemolive l)ut lo do $0.
Audltorfs r09po￿￿b1IIties forthe audlt of the flnanclal statements
We have been appointed as auditor under section 144 of the Chariti8s Act 2011 and report in accordanco wth th
Act and cel¥v¥nt regulations rnade or having effect thereunder.
Our objectives are to obtain rèason8ble assurance about whether thè finanryal statements as a whok are free frorn
malerial misstatfjm¥nl. whether due lo fraud or e￿or. and lo issue an audilorfs report that indudes our opinion.
Reasonable assurance Is a high level of assurance bul is not a guarantee that an audit conducted in accordance
wrth ISAS IUKI will a￿ayS detect a material misstatemant when it exists. Misstatemants can arise from fiaud or
error and are consideied material if. individualty or in thè aggr8gale, th&y could reasonabty b• exp•¢t•d lo influence
the ecommic dec4sions of users taken on the basi8 of these finanrAal slatemenls.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedurès
li￿ our responsibilit￿s, outlined above, to dg19d material mi$sl¥lemenls in ￿Sp￿¢t of irregularities, W)￿ding
fraud. The extent to which our procedures are Capable of dÈts¢ling irregularitie$, induding fraud, is detailed below.
Extont to twhl¢h the aud11￿5 ¢onsld•r•d capable of dets¢ttng Irr•gularftl8s. Includlng fraud
Our approath lo identifying and assessing the risks of material misstatement in respect of irregularilies, induding
fraud and non-compliance with laws and regulalions, wo9 as follows..
the engagem¢nt parlngr ¥n$ured that the engayemenl team colthtively had the appropriate competen￿,
capabilities and skills lo identify or Tecognise nonvcthnpliance with applicable laws and Tegulalions,.
we identified the laws and regulations appl¢cable to the company through discussions with Trustees and
other m8n&3emenl, and from our knowledg8 and experiènce of Ihg sgctor,
we focused on specific laws and wulatiijns which we eonsidered may have a direct material effect on the
financial statements or the opgralions of the charitable company, including the Cofflpanies Act 200S. the
Charities Act 2011, the ch8rits.ès SORP, tsx8b.on legislatson, data prole¢tion, ant￿brIbery. employment.
environmen181 and health and safety legislation.
we assessed the extent of compliance wrth the laws and regulations identifi8d abo￿ throu9h m*ing
enquiries ol rnanagement and inspecting legal wrrespondence", and
idents.fied law5 and regulations were ¢ommuni¢atsd wrfhln Ihg audit team re9(￿31￿ and th& tsam remained
alert lo instances of n0￿CoMplI0n￿ throughout the audrt.
We assessed thè sus¢eptfoilily of the chaiitable company's financial slat8ments lo material misstat8m8nl. induding
obtsining an understanding of how fraud might occur. by:
making enrwiries of managemenl as lo where they conslaered there was suscepllbllty lo fra￿￿, thelr
knowledge of aclual. suspeclèd and allegod fraud., and
• considering Ihg intern81 controls in place lo mitigate risks of fraud and non-compliance laws and
ragulations.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Audlt re8pon$e to risks Id•ntlfi•d
To address Ihe risk of fraud through management bias and override of ￿jntrds, we..
perfomi8d analytical procedures to idenlfy any unusual or unexpected Telationships,.
• revieweil all transactions listed..
assessed whether judgements and a$sLwnption$ mado In dgtgrmlning Ihg a￿0￿￿ting gs1imate$ were
indicative of potential tias,. and
investigated thg rati(￿ale behind 81gnifi￿nI ur unu8ual tranBaclion8.
In response lo Ihe dsk of irregulariknes non-compliance with laws and regulations, we designed procedure
which induded, but were not Iwrited to..
ag￿el￿g financial statamant disdosures to underfying supporting documèntation; and
enquiring of management as lo a¢tual and potential li1198ti¢n and daims.
There are inherent Ilmltatbons In our audf( procedures describèd above. The more removed that laws and
Tegulalions are frorn financial transactions, the less likety fl is that we would become aware of nOr￿COmplianCe.
AudiÉing standards also limit the audit prwdwes requir¢d lo Klgntfy n9￿complIance wrfh laws and regulatr'ons to
enquiry of the Trustees and other management and the inspection of regulatory and leg81 ¢crfresponden¢e, rf any.
Material misstatements that arfse due to frèud can be harder to delect than thosè that arise from e￿01 ès they may
involve deliberatè con¢èalment or collusion.
A further descriplion of our responsibilllieg Ss available on the Flnanual Reporting Counal's websote at.. https'./l
www.frc.org.uklau¢Jilorsie5ponsi)ilith?s. This description forms part of our auditorfs report,
Uso of our Y•port
This report 1$ made solely lo the charity's trustee5. as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we m*Jht state to the ch&ritls trustees
Ihosè matters we are requirgd to state lo them in an auditofs report and for no ot￿r PLwpose. To thè lulesl axtent
pemttted by law. we do not 3￿pt or aSSLme re8pon8ibility to anyone other than the ¢harily and the ¢harity'$
trustees as a body, for our audit work, for this report. or for the opinions we have fO￿￿ed.
Alllotts LLP
Chart•Y•d A¢¢ountsnts
statutory Audltor
3 London Squar8
Cross Lanes
Guildford
GU1 1UJ
Allititts LLP is eligible for appointment as auditor of the trust by virtue of its elgibility for appointment a5 auditor of a
ompany under secllon 1212 of the Companiès A￿ 2006.

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unr¢strl¢tod Unmtri¢ted
funds
funds
2023
2022
Notes
Incom• and •ndowm•nts Irom:
Donations and legaci8s
Chatitsble activities
Investments
Other Income
284,105
31.168
75.354
34,179
247.044
25.312
71,516
28.501
T¢)lal Incom•
424,806
372.373
Exp•nditure on:
Investment management fees
Charitablè actiwtse$
20.723
641,708
21,086
S13,677
Total •xp•ndltyr•
662.431
S34,763
Nel gainsluossos) on inve$tmonts
12
388,856
{421,7931
Nèt in¢ome1(expgndl￿1oI and moverngnt In funds
151,231
(584.1831
RKoThclllatlon of fund$:
Fund bal￿¢9$ al 1 January 2023
5,264.767
5,848,950
Fund balances at 310•¢omb•r 2023
5,415,998
5.284.767
The statement of finanual activities includes 811 gains and losses recognised in the year. All income and expen(kni
d•ri¥g from continuing aCtiV￿8s.

STRATFIELD SAYE PRESERVATION TRUST
BALANCE SHEET
ASAT31 DECEMBER 2023
2023
2022
Notes
Fixed ass•ts
Tangible assets
Investments
14
16
838,801
5.300.089
846,641
5.094,814
6,138,890
S,941,455
Currentass•ts
16
17
3,058
46.249
1.737
3.658
36.872
27.441
D•btors
Cash at bank and in hand
51.014
67.971
CreditOfB: amoubrt* falllng duo wlthln
on• y•ar
19
IT73.936)
(744.659)
Not ¢unYnt liabllltks
<722.8Y21
676,6881
Total as5•ts l•ss curr•nl Il•bilitio$
S.415.998
5,264,767
The lunds of th• trust
Unre¥tricted fijnds
21
5,415.998
5.264,767
5.415.998
5.264.707
The financial $tatements were approved by the Iruslees on.a.i.l.i.c)laJ2*
TheE
l of Anlrim

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounllng poll¢1
Charlty Information
Straifield Saye Prtrservation Trust is a charitable trusl established on 26 June 1984 and 15 a registered charily
(no. 289622}.
1.1 Accounting conventlon
The financial statements ha￿ been propared in acGordan¢o wlh the trusfs govaming d￿u￿￿nI, the
Charitres Act 2011, FRS 102 'The Financial Reportin9 Standard applicable in the UK and Republic of
Ireland. fFRS 102.1 and the Chaiitses SORP 'A¢￿Unting and Reportiftg by Ch8rilies.' Statemonl of
Recommanded Pra¢ti¢e appli¢able to Charities preparing their a¢¢ounts in 3￿rdanCe wlh the Finan¢r81
Reporting Standard applicabbe in the UK and Republic of Ireland IFRS 1021. leffectNe 1 January 20191. The
trust is a Public Benerrt Entity as d8fmed by FRS 102.
The trust has taken advantage of th? pmmsions in thg SORP for charrbes not to prepare a St818mgnt of Cash
Flows.
Tho finanual statemen15 are prepared in sterling, which 15 the functional cuThenLy of the trust. Monetary
amounts in Ihese finanaal statements ar8 round8d to lh• nearest £.
The finand81 statements havo been piepared under the historical ¢osl convention. modified lo include the
revalualion of investments and certain finan￿11 inytrumenl$ at fair value. The prinapal acts)unting policies
adopted are sel out below.
1.2 Golng conc•m
At the lime of approV￿g th8 finanual statements, the Irust8•s hav8 a r8asonable expedal￿n thal th& trust
has &Jequale ￿sourCeS to continue in opetalional existence for the foreseeable future. Thu8 the twsl88S
continue ¢0 adopt the going cxjncern basis of arcounling in preparing the finana81 $latsments.
1.3 Charitable ￿nd•
Lknrestllded fund$ are availablfr for use at the dlscrellon of the Iwstees In furfheran¢e of thelr tharhable
objecth'ves.
Restricted fvnds are subjoct to specfft condtbons by donors of grantors as to how they may be used. The
purposes and usos of the ￿$trI￿d funds $¢1 out in tho notes to tho financ4•1 $tst¢ments.
Endowment funds are sublect lo spedfi¢ ¢ondrtOons by donorn thal1he capital must be malntabnefl by Ihe Irusl.
1A Incom•
Income is recognised when the trust is le9alty entitled lo rt after any perfomian¢e conditions have beon met.
the amounts can be m¢a$ufed teliabty, and il is probable that income will be re¢eived.
Cash donations ar& recognised on rtteipl. Olhar donations 8ie recognised once the trust has boen Mlffied of
the donalion, unloss performance conditions require defertal of the amount. Income tax reCovera￿e in TelalK)n
to donatlons re¢eived under GiftAid or deeds of covenant is rècognised al thé timè of the donation.
Legacles are re¢ogni8ed on receipt or otherwse rfthe trust has been notif￿d of an impending distributhjn. Ihe
anK)unl Is known. and receipt is expected. If the amount is not known, the legacy is trealed as a contingent
asset.
Income from govemment grant$ is recognised * the fair valuè of assot roceiv8d or r8c8iv¥bl& when there
is reas￿able assurane8 that thè grant conditions will be mét and the grants will be received. A grant that
specffies perfoman¢e condthons is recognised in income when tho perfoTman¢e Condilions are mel. W)tre a
grant does not spe￿fy perf0rnan￿ conditions Il is recognised in income when the Proceeds a￿ receNed or
receivabltr. A grant rècewed before the recognilion criteria are satisfied is recognised as a liab￿lty.

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED)
FOR THE YEAR ENDED 31 DECEAIBER 2023
Accounting polici•s
Icontlnuedl
1.6 Expèndltur•
Income and expenses ar• Ind￿j•d in the finan¢i•l slalemonts as th•y b•¢ome re¢eN•t40 or du•.
Expanses exdudo VATwhere Ihi8 is r¢coverabl8 by the tharrty.
Re￿u￿$ expended are induded in the Slaternenl of Financial Actwitres on an accruals basis and we
allocated 10 4 $pecffic activity where costs rglate diredly to that activity.
Costs of generating funds are th? costs directly attributsblfj to raising funds.
Charitable expenditure indudes ￿ costs directty re￿lIng to the oblethves of the charlty and the ¢0818 Invc4vod
supporbng that work.
Support Costs include those costs connected with Ihe management of the thaws assets. organisational
management and admini$lralion and compllance with conslitutional and slaluiory rgquiremgnts. Expendilure
on support C￿StS of the eh8rity includes all ¢xp&ndilurs not dirèclly r8l*ed lo thè charrtable aetmty or
fundraising ￿ntUreS. These are apportioned lo the other activities based on time spent performing the
activities.
1.0 Tangible fixed assets
Tangible fixed assets are inits'alty measured at cost and subsequenuy measured at r￿st or valua1ion. net of
depreciation and any impairmgnt losses.
Depreciation is recognised so as to write off the ¢ost or v8luation of as￿t8 less their iesithl values over their
uselul lives on the following bases-
Freehold land and buildin9S
Fixlvres, fftting5 and equipment
Heritage assets
5°A straight line
Hgrftage assets are not depreciated as they are fyjnsidered lo have an indefinite useftl lile.
The gain or loss arising Dn the (fisposal of an asset is detemiined as the t1rf1eren¢8 betr￿ the sale procee(ts
and th8 carrying value of the asset, and is recognised in net incomellexpendilurel for the yeai.
1.7 Fixed asset In¥•slm•nts
Fixed asset inv8stmenls are inili81ty measureil 81 Irans8dion pricè exduding transathon ¢o$ls, and are
5ubsequentty measured at fair value al each reporting dale. Change8 in fair value are recogni8ed in net
incomellexpenditurel for the year. Transact￿n costs afe expensed as incurred.
A subsidiary 18 an enlty Control￿ by the tNst. Control is the power to govem the finanrAal and cyerating
poliaes of the entty 50 as lo obtain benefits from its activities.
1.8 Imp41rn)•nt offlxed assets
Al each reporting en(1 dalo. the trust rewews the carrying arnoun18 of its tangible assets lo detemmne whether
thor¢ 1$ any indicatiork that those assets have suffered an impairrnent loss. If any such indication exists, the
recovèrable amount of the asset is è$limalad in ord&r lo dètemiine Ihe ext&nt of Ihe impaimienl loss lrfanyl.
10-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounting polci
(Continued)
1.9 Skn¢k¥
Stocks a￿ stated al the lowar of cost and estimated sellng price less ￿$tS to compbete and sell. Cost
ctsmprises dired maleria15 and. wh8ra applicable, direct labour costs and thosé ov8rheads Ihat ha￿ b8en
incurred in brirbging the stocks to their present location 8nd cwdition. Items held for distribution 8t no or
nominal considaralion aro moasured the lower of Teplacefflent Gosl and cost.
Net realISab￿ value is the estimated selling prlce less all esthmated Costs of o)mplellon and costs lo
incurred Mi mat*elin9. $$lling and distribubon.
1.10 C•¥h and cash equlvalents
Cash and ¢ash èquivalents include cash in hand. deposits he￿ * call %%4lh banks, Olher 5hort-tenn liquid
investsllen15 wlh original malurilies of three month$ or le$s. and bank overdrafts. Bank overdrafts are shown
within borrowings in ryjrrent IHbiliti8s.
1.11 Flnanclal Instrunwnts
The trust has elected to apply thg pwslons ol Sectlon 11 'Basic Flnanoal Inslrumonts. and Section 12 '0ther
Financial Instrumènts Issues. of FRS 102 10 all of ils ffinanrial inslrumenls.
Financial instwments are recognised in the trusfs balan￿ sheet when the tnjsl becomes party lo the
contractual provi8itsn¥ of the instrument.
Financial assets and liabiliti$s are offset, with the net amounts wesented in the financial 51alemenls, when
there is a legalty enfor¢eable rigm to set off the re¢ogni3ed arr￿Unts and thère is an intention lo settle on a nel
basi$ or to realise the asset and s8tt19 the liability simullaneousty.
8aJlc financialassots
Basic finantsal assets, which indude debtors and 4Jsh and bank balances. are initialty measured at
transaction price including transaction eosts and are subsequenlly Carried at amortised cost using the effeciNe
interest method unless the arrang¢mgnt constitutes a finani>ng Iran$a¢tion. Whe￿ the transaction 1$
measured al thè presént value of the fuiure re¢eipls di$￿Unted at a m8rkel r81e of intsrost. Financial assets
classified as r￿1Vabl& within one year are not amortised.
8a$lt Ilnanclalllabilitios
Basic finanual liabilities, including creditors and bank klans are initsally recogrised at tran$aGtion pri¢x unless
Ihtr arrangement consltutes a financing transaction. where the debt instrument is measured at the present
value of the fubjre payments discountèd at 4 market ral• of intswsl. Financial liabilitiès da8srf*d 88 payable
within one yfiar are not amortised.
Debt instruments are subsequenlty carried al amortised C•JsI. usihg thè effectNe Interest rate method.
Trade cre¢&tors are obligalions to pay for goods or Se￿iceS that have be&n acqured in the ordinary course of
operations fiom suppliers, Amounts payable are dassffitrd as current liabiltties rf payment is due wilhin one
year or less. If not. they 3r& presented 8$ no￿t￿ttent liabilities. Trado credrtors aro rèLxignised inilialty al
transaction pri¢e and $ubsequenUy me88ured al amorti3ed cost using the effec*ve interest method.
0•￿c09n1tlo￿ of financial liabllhl•s
Finan¢ial liabilrties are derewgni$ed when the Iru$l'$ Gontraclual oNigotions expirg or arg dI￿harged or
cancelled.
11

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
{Continuedl
1.12 Employ•• bengfits
The cost of any unused holiday •ntrtl&menl is rec¢gnisod in the period in vA)ic41 the employ¢e's servi¢es are
reGeiv8d.
Tominalion beneffts are recognised immediatety as an expense when the tru51 is demonstrabty committed to
tomiinale the employment of an employe¢ or lo providg 16miination benofits.
1.13 Rotlw•m•nt b•n•fits
Paymgnts to define(l ¢onlribuiion retirement benefft 8chome8 are tharged as an expen8e a8 they fall due.
Crfllcal accountlng estlmatss and Judg•m•nts
In th8 8ppli¢alion of the Irusl's accounting policie5. the trustees are Tequired lo make judgements, eslimales
and assumptions about the carying amount of assets and liabilities that are not readily apparent from other
source5. The estimates and associated assumptions are basad on historical exp8ri8nc8 and other factors that
are considered to be relevant. Actual results may differ from these esllmates.
The èstimates and undertying assumptions are Teviewed on an ongjing ba8is. Revisions to 8ctounb.ng
estimates are recognised in the period in which the estimate is revised where the rewsion affects cnly that
pèriod, or in the period of th8 r8wsion and fvlure period$ wherg the rovision aff8c*s b¢)th ¢urrw)t and future
periods.
A key estlmalon In the 8ecounls is that the heiitage assets have an indefinite useful lrfe. giviro rise to no
dep￿allOn in the year.
Incom• from donadons and legacleg
Unrnstrlctsd UnreStri￿d
funds
funds
2023
2022
Donations anij gffts
284,105
247,¢)44
Incomg from ¢hirftsbl• a¢tivilie8
Unrestricted
funds
2023
Unrestricted
fund*
2022
Charhabl• activili
A(Imissions
Shop
18.062
13.106
20.591
4,ni
31.168
25,312
12-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
kncomè from Inv•stm•nts
unr•Stsict￿ Unr•striGt•d
funds
funds
2023
2022
Rental inco
Income from listed nvestments
Interest receivatle
37,944
37.143
267
37.200
34,267
49
75,354
71,516
Oth•r IncoThe
unrestrict￿ Unrestrl¢ted
fund•
lunds
2023
2022
Other income
34,179
28,501
Exp¢ndlture ¢n ¢harItsb￿ aGlivities
Ch•ritsbl¢
activitie•
2023
Charttsbl•
•¢tlvltl•8
2022
Dlrè¢t costs
Repairs and maintenance
Premises insurance
223,017
62,045
108,188
56,242
285,(￿2
164,410
Share of 8UPPOrt and govem•n¢e G￿ts (see nots 81
Support
Goveman
349,979
6,687
340.517
8.750
641,708
513.677
Anatysi5 by fund
Unrestricted funds
641.708
513,677
13-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support ¢o¥ts allocated to actlvltleJ
2023
2022
Staff costs
Depreaalion
Rent. rale8, Utilities
Othar slaff costs
Office costs
Motor running exp&n$e$
Travel and subsistence
Insurance
Bank charges
Legal and professional
Governance eosts
228.291
7,839
74.743
1.525
20,364
4,618
1,636
6,467
808
1,080
9,275
227.843
23,812
54.821
633
20.121
3,477
906
7,996
655
653
8,750
356,648
349.287
Analys•d between:
Charitable adivities
356.646
349.267
Govem8n¢e ¢xJsts indudes paym8nts to th8 auditors of £9.27512022- £8.7501 for audrt f88S.
Some of the Trusts support fun￿On are piwdgd wthout charge by Straffield Saye Estste. Thi$ support
includes the financ8 lunction, house opening and propety matters amongst others. Due lo the natu￿ and
variabilty of this support the Trustee5 do not considerthal il is possible lo quanltfy or measure the value of the
support and $0 no amounts have be8n induded in donations nor corresponi*ng costs to r8flocl this.
Net movem•nt In fund8
2023
2022
The nel movement in funds is stated after ¢hargingl(creditingl'.
Fees payablè for thé aLJdrt of the ¢harWs finonual statements
Depreaalion of owned tsngible fred asse15
Lossllprofftl on disposal of tangible fixed a$$&ts
12,022
7,639
8,750
28,212
14,8001
10 TrnJtee5
None of Ihe trustees {or any persons conneded with them) re￿IVed any remuneration or bénerrts from the
trust during the year {2022." none were reimbursed}.
14-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11 Employges
The avorage monthty number of employees during the yearwas..
2023
Number
2022
Numbèr
Full time staff
Guides
Steward
Tol
11
10
Employment costs
2023
2022
Wages and salari8$
So¢ial security costs
Other pension costs
208,280
15,859
4,152
210.173
12.107
5,363
228,291
227,643
The employ¥9 twmber ft)r 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 employ8d. r8$pactN•ty. AS a r￿ul1, thèy
are still induded in the average employees calculation.
There werg no empbyèes whose 8nnual remunera1￿ was more than £60.OCKI.
R•muneTrtion of koy managern•nl p•vsonno1
Key management pe150nnel received remuneration of £nil12022.. £nil).
12 Galns and10ss•s on investments
Unrnstrict•d Unr•strict•d
funds
funds
2023
2022
Galnsl{lossesl ari$irwJ on..
Revaluation of investments
368.856
{421,7931
13 T•xatlon
The tharty is exemptfrom taxation on ils aC1'v￿.￿S because 811 its income 18 applied for Charitable purp0888.
15-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 T•ngiblg fixed a¥*•ts
Freohold Iwnd
Flxturns,
and bul1dlfft￿ Ilttlngs and
equlpmwt
HerMag•
Co$t
At 1 January 2023
25,5
3S7,272
779,026 1.161,798
At 31 De¢ernber 2023
25.500
357,272
779,IY26 1.161,798
Depre¢iation and IMpalm￿nt
At 1 January 2023
Depreciation thargeL1 in tho y￿r
315,158
7.839
315,158
7.839
Al 31 December 2023
322.997
322.997
Carylng amount
At 31 December 2023
25,500
34,275
779,026
838,801
Al 31 December 2022
25,500
42,114
779,027
846,641
Hentsgè assets brought 8re held al Christie's 2008 valuation figure. Their histo11¢4 c08t was
£189.844.
15 Fixed asset Investments
Llst
Invè8tm•nts
Ca•h In
Other
portfollo Inv•6tmeni#
Totsl
Co8t orvaluallon
Al 1 January 2023
V8lualion changes
4,701,403
389,885
393.410
1184.6101
5.094,814
205,275
At 31 Dècember 2023
5,091,288
208.800
5.3CKI,089
Carylng amount
Al 31 December 2023
5,091,288
208,800
5.3fJ),089
Al 31 December 2022
4,701,403
393,410
5.094.814
2023
2022
Other investmants comprise..
Investments in subsidiarie8
23
16-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16 Stocks
2023
2022
Finisheil gts)ds and goods for resale
3,058
3,658
17 Debtorn
2023
2022
Amounts falling du9 Within on• year.
Trade debiors
Amounts owed by subsidiary undertakings
Amounts owed by fellow gTOUP undertaking8
Olher ¢Jèblors
Prepaymgnls and a¢¢fuèd incoffle
27
16,727
29,522
5,272
30,886
46249
36,872
18 Loam and overdr•fts
2023
2022
Other loans
700.0
700.000
Payable wilhin y*ar
700,000
700.000
The Other loan is interesl-fr88, uThSe￿red and repayable on demand.
19 Cr•dltor¥: amounts f*lling due wlthln one year
2023
2022
BowTowings
Other laKalion and soaal sec#Jrity
Trade creditors
Other creditors
A¢¢ruals and deferreil income
18
700,000
6,808
39,433
3,349
24,348
7CK).000
3.485
21.427
740
19,￿7
773,936
744,659
20 R•llrement benefit sch•m•8
2023
2022
D•ffin•d ￿ntrIbutiOn schem•s
Charge lo profil or lJ$s in Te$p8¢t of deffined contribUt￿n schemes
4,152
5,363
17-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR ThIE YEAR ENDED 31 DECEMBER 2023
20 thr•m•nl bon￿ $¢h¢m•¥
IConllnu•dl
The trust operates a deffined c(sntribulion pensron scheme for all qUalI￿n9 employees. The assets of the
scheme are held separately from th08e of ￿ trust In an independendy ￿lMInIStered fvnd.
21 Unre8trl¢tsd lund•
The unreslrict8d funds of th8 charity ¢omprise the unèxpanded balanees of donalons and 9rants whith are
rv)I subject to specific ¢onditions by donors and grantors as to how Ihty may be used. These indude
designated fvnds whKh have been sel aside out of unrestricled funds by the trustees for 5pectfic purposes.
At 1 January
2023
In¢omlng
rp50urc•
Resources
ewnded
Galns and
los$
At31
DK¢mbeT
20Z3
General funds
5,264.767
424,806
1662.431)
388,856
5.415.998
Provlou8 year.
At1 January
2022
Incomlng
•our¢
Resources
gxpend•d
Gains and
10$$0s
At31
0g¢•mb•r
2022
General funds
5.848,950
372,373
1534.763)
1421.7931
5,264.767
18-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Related party trangacllon¥
Thè charity has a £700,rJJo loan trom a famty charitable trust which has been in place for ovor 20 yaars is
repayable on dèmand.
There were also some trans¥Aions whh olher enloties of whlch one of the Iruslees is a Injstee or a director,
summarised below..
t r8ethargès (for costs and wages} made from the Straffield Saye Estate lo the trust totaled £164.262
P022.. £58,570). Al the year end £1,99912022'. £643) was owed by the trust.
Nel rtttharges of £nil {2022.' £10,957) were made from the trust to the Stralfield Saye Fèm. Al the year end a
net of È22212022.' NI) wa$ ow•d to the trust.
Net recharges of £4,870 {2022'. £3,ODn were made from Wellinglon County Park Limited to tho Irusl. At the
y¢ai end a net of £1,442 {2022.- £796) was owed by the trust.
Nel tharge5 of £37.94412022= £37,071} We￿ charged by the trnst to Weifinglon Eslales Educalion ￿Mile￿ for
net of costs and wages. Al the year end a nel of£744 {2022= nil) wa8 owed to the Irvst.
Net recharyes of £61 12022.. £niil weTe made from Wellinglon Riding to the trust Ai th8 year and a n8t of £nil
12022". nil) wa5 owed lo the trust.
23 Sub*ldlarl•s
Thes• finanaal statements are separate trust finanual statements for Slraffield Saye Preservation TrusL
Detals of the t￿8rS subsidiaries al 31 De¢gmber 2023 are a$ follw$:
Mame of und•rt•klng
Regi#tered
Natur• of busin￿9
Class of
% Hold
sh8rts ￿ld Direct IndiYe¢t
Straffield Saye PreSerVatic￿ The Estate
Limited
Offico, Stratfield
Saya,
Hampshire. RG7
2BT
Trading $ub$idiary
Ordlnary
100.00
19-

Charlty voglstratlon n￿lbor 289822
STRATFIELD SAYE PRESERVATION TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

STRATFIELD SAYE PRESERVATION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tntst•es
The Du¢he$s Of￿111n91on
The Hon. Edward Cliva
Lady Rachel Billington
The Earf ofAntrim
Charity number
289822
Aud6tor
Alliotts LLP
3 London Square
Cross Lanès
Guildford
GU1 1UJ
Solicito
Blandy & Blandy Soli(itors
One FrSar Street
Reading
Berkshire
RG1 1DA
Inv•skn•nt advijors
Rothschild & Co.
New Court
St S￿hen,$ Lane
London
EC4N 8AL

STRATFIELD SAYE PRESERVATION TRUST
CONTENTS
Page
Trusteey. report
ststemenl of Iru8teè8' respon$bi iliti"e$
Independent audhofs ￿port
Statement of finanrAal aclivities
Balanca sh881
Notes lo thè fin8nci813talements
9-19

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The tru8leè8 present their annual rgport and finaneial statements for the year 9ndgd 310￿mber 2023.
The financrdl slatsm&nls have been PTepaTed in accordance wlh the accountwig ￿l¢AeS set out in note 1 to the
financAal statements and compty wlh the twsfs goveming document, the CharitiesAct 2011 and"Ac4x*LFnling and
Roporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accoTdance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021" (èffective 1 January 2019).
Oblectlv•s and acdvldel
The Straffield Sayè Pies8N81ion TIu3t is conslituled under a trust deed dated 26 June 1984 and is a registered
harity (number 2898221.
The main objective3 of the charity are maintaining and restorin9 Stratfield Saye House and rf$ grounds and il¥
¢h8tte15 and archives relating to Ihg First Duke of Welllngton and openlng the house lo th8 publi¢.
The Iruslees who have served during the year and Sin￿ the year-end are 8el out ori Legal and Administrative
Irrformation page. The minimum nurnber of Iruslees is three, and add￿"Onal Iwslees may be appointed at any
time. The trustees rneel once a year where decisions are discussed aThJ taken wth any minor dec4sions being
lakgn by the trustees. agent following ￿ns￿lIatiOn with o minimum of two Iruslees.
Relatlonshlp between eharlty and rolated Par￿68
A majority of the INstees are independent of the Vvellesley family. All trans￿10￿5 With straff￿ld Saye Estate we
carried out on an am).8 length basis.
InvÈ•tm¢nt Perfomianc•
The trustees, investment portr0￿0 is held and managed ty 8 leading investment ba￿ Rolhschikl & ￿ and the
portfolio is regularfy reviw•d.
The totsl value of investments increased in 2023 from £5,094,814 to £5,300,089. During the year £200.000 was
drawn down and there were realised and unr•alised investment gains of £388.858. Income continues lo b8
gener8led by let property. admissions and donations.
Rwiiew of tho y•ar
The charity carried oul nomal repairs lo the fabric of Straffield Saye House and wo￿6 ofat
Slraffield Saye Housè was open to the pubfie during the Easter and Summer of 2023.
Straffi91d Saye House and its grounds ar8 maintained by the trustoes in a good state of repaw without recourse to
any grants. The hous8 is op8n to the public and the level of visitor satisfaction is high. The trustees confimi they
have paid due regard lo guidance i$$ued by the Charity Ctsmmi$$ion in deoding what aclivilies the trust should
undertake.
AchS•v•nRnts and perlomwnce
Fundralslng •¢tlvlt40
The d)aiitys rnain fund raising aciNiti&s are from dOn￿l0￿S and from investrnent income. No prolessional fund
raisèrs are usèd by the charity.

STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financlal rovlow
Reserv￿ Policy
11 is the policy of the trust to maintain a fund suffic4ent to produce an incLJme lo maintain the fa￿[C and grounds of
Straffield Saye House. The trustees hokl an invesiment portfolio and drawdown 4% 01 this each year t)r the
8nnual expenditure of Ihe trust. The income for the year was £424.806. Totsl expenditure for tho year was
£662,431. The in￿$￿ent gain of £388.856 resulttrd in ¥ ntrt surplus for the year of £151,231. Al the year end
free reserve$ Including investrnenls of £5.300.089 and a loan of É700.000 lotslled £5.415,998.
Thè trust holds a fund suffiuènt enough to cover half of the annual expenditur& of the trust It is the medium tann
aim lo reach enough to cover all costs of approxim8lely £550.000.
The trust Currently holds fixed a53ets of £6.1m i￿l￿dIng inv8Strnenls. It is the intention of the trustees to try and
add lo Ihis figure so as to provide for thg full Tunning costs of the charity, bul in the medium term will need to
¢onts"nue lo r•ly on donatw)n$.
Rlsk a$$•8¥ment
Th& house has a Modem fre and burglar alarni system. An annual heamh and safety in$pectKJn is carried out
109glher with a risk assessment. An 8l&ctrical installation inspection is carried out 5 yaarty, wrfh poriable
appliance testing bein9 carri￿ out annualty. Atl staff receive appropriat• training.
Plan$ for tho futur•
The trustees will continue lo M￿ntaIn Straffi¥ld Say8 Hous8 and tho colledion of w0￿S ofart in the WelliTh3lon
Collection and lo op&n the house to the puL4ic.
Structure, governance and management
The trustees who served during the year and up lo the dale of signature of the finanrAal statements were..
The Duchess of Wtrllington
Baron Piers von W&stgnholz
Thg Hon. Edward Clive
Lady Rachel Billinglon
The Earf ofAntrim
(Resigned 26 Juty 20241
Trustees are appointèd by the Duk&, as per the Twst Deed. A $kill$ audr( 1$ ¢3rried out annually lo id¥ntify gaps
in the sknlls sets of gxisling trustees.
None of the trustees has 8ny benefiti81 interes* in the charity. All of Ihe trustees are members of the charity.
The trustees, report was approvad by the Board of Trustees.
Thè Earl o
Trusleo
ntrim
Oatèd.. aili.....l*x*

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are responsible for preparing the Trustèes, Rèport and thè finaneial statements in accordartt wlh
appllcablè law and United lfjngdom Actounting Standards (United Kingdom Generalty Ac(*pted Accounting
PractiC81.
The law appllcable to charits'e$ in England and Wales requires the Iruslees to prepare finantial slalements for oach
finanekql year which give a true and fair view of tho state of affairs of th8 trust and of the incomiThJ resources and
gpplication of resources of the trust for that year.
In Preparin9 these finanaal ststgm¢nl$, the Iruslo0$ a￿ wuired to..
- se18Ct suitable accounting policie5 and then apply them cY*nsistenlty'.
- observe the methods and principles in the Charities SORP-
- make judgen*nls and 8s¢imate$ tho1 arg reasonable and prudent,.
- state whether appli¢atAo a¢¢ounting standards have been followed, subject lo any material departures disdosed
and explalned in the ffinancial statements.. and
prep*e the firkancAal statements on the goin9 concern basis unles$ il 1$ inappropriate to presurre that the charity
will continue in operatKJn.
The trustees are responsible for keeping 5uffii¥ent accounting records that di8doBe with rea8onable acrJJracy al any
tima thg financial posrtTon of the tru51 and enable them lo ensure that the financial statements comply wlh the
Charities Ad 2011, the Charity (Acxounts and Reports) Regulations 2008 and Ihe provisions of th8 trust d8ad. Thèy
a￿ also responsible for safeguardin9 the assets of tha trust and hancè for t8king reasonable steps for Ihg
Prevent￿ and detection ol fraud and ot￿r irregul*iti"e&

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Oplnlon
We have audited thè financial statements of Straffield Saye PreseNation TTVSt {the Irust'l for lh• year 8nded 31
Dacèrnber 2023 which comprise the statement of financial actwities, the balanee sheet and the notes to the financial
slatements, induding a summary ol $ignifi¢anl a¢¢ounling poli(a&s. Thg finanoal rewjrting framework that h8s boon
applied in their preparation is applicablè law and Unrted Kingdtsm A¢¢ounling Slandxrds, induding Finan¢ial
Reporfing Stsndard 102 The Financial Rel￿rting Stsndanl applicable in the UK and RgpublK of lrnland {Unit8d
Kingdom Generdlly Accepted Accounting Practice}.
In our opin￿n, the financial statsments..
give a true and fair vi8w of the state of the tharity's 8ffairs es al 31 December 2023 and of its incoming
resources and 8ppli¢ation of r¢$ources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Ganerally A¢¢gpted A¢counling practi￿.,
and
have been prepared in accordancg wrfh th* requirem•nl$ of th• Charrfies A¢i 2011.
Basis for oplnl¢n
We o)nducted our audlt In 8¢cordance wlth IntemaJonal Stsndards on Audrtlng {UK) IISAS (UK)) and appllcable
law. Our rgspon$ibililie$ under those standard5 are fijrther described in the Auditorfs responsibilities ft>r the audit ol
the finan￿&1 statefflents section of our report. We are independent of the trust in acLordance wlh the ethical
requirements that are relevant to our audit of tho financial statements In the UK. Induding the FRC'S Ethi¢al
Standard, and we have fulfilled our other èlhieal rèsponsibilitiès in accordane¢ wlh the￿ requiréments. bèk'eve
that the audit gvidencg w& have obtsin8d is sufficient and appropriate lo provide a basis for our opinion.
Con¢lu¥ions relating to going concern
In auditing the financial statements, we have concluded that the trustees. use of the going ojncem basis of
o¢counling in the preparation of the financial statements is appropriate.
Based on the work we have perfomed. we have not Id8nlrfl&d any materbal un¢ertai)lies relating to events or
conditions Ihat. sndiwdual￿ Of colle¢livety, may cast significant doubt on the Iwsfs ability lo continue as a going
concèm for a period of al least twelve months from vthen the financAal statements are authorised for issue.
Our responsibililies and the responsibl￿tIeS of the Iruslees with re$pe¢t to going ct)n¢em arg describgd in thg
relevant sections of this raport.
Other inforniation
The olh¢r infomalion compwises the information induded in the annual report other Ihan Ihe fInar￿la1 Statements
and our audth¢s reporl thereon. The trustees are responsible for the other infomiation contained within Ihe annual
raport. Our opinion on the financial statements does not cover the other infomialion and we do not express any form
of assurance conclusion thor8on. Our r&$pon$iblity 1$ lo read the olher infomiatwn and. in doing so, considfjT
whether the other information is materially ineA)nsistenl wth the finan￿81 stalemènls or our knowledge obtained in
the cL*urse of the aydil, or otherwise #ppears lo be materially misstated. If we identify such material inconsistencie8
or Apparent material mi55talernenls. we are required lo determine whelher this gives Tise to a materBI misstatement
in the financk21 statements themselves. If. based on the work we have perfomied, we Gondude that there is a
material misstatement of this other informat￿. we are required lo report that fa¢L
We have nothing lo report in this regard.
Mattern on which we are requirèd to r•port by èxe•ptlon
We have nothing lo report in respect of the following matters in relation lo which the Charib•s (Accounts and
Reports) Regulations 2￿8 require us to report to you if, in our opinion."
the information given in the financial stslemenl$ 1$ inconsistent in any material resF¢¢t the trustees.
report., or
sufficient accounting records have nol b99n kept.. or
the financial slalements are not in agreement with the accounting records,. or
we have not received all the irrformalion and explanations we require for our audit.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Rgspon$lbiliti￿ of trustees
As explained more fvlly in the ststement of truslee8' responsibilities. the trustees a￿ responsible for the preparation
of the finan¢ial slat&menls and for being satisfied that they give a true and fair view, and for such intemal ￿ntrol as
the trustees dètemiine is necessary lo enabl8 the preparation of finanaal stat8m&nts Ihat are fre8 from material
misstatement, whether due to fraud or error, In preparing the financial $talemenl$, the trustee$ are ￿ $ponslble lor
assessing the trust's ability to continue as a going ¢on¢em, dis¢losing, as appli￿l￿e, matters related to going
¢oncem and using Ihe going concern basis of acco￿b.￿9 unless the truste88 either Intend to ¢ea8e cgerathjns, or
have no realisti¢ aliemolive l)ut lo do $0.
Audltorfs r09po￿￿b1IIties forthe audlt of the flnanclal statements
We have been appointed as auditor under section 144 of the Chariti8s Act 2011 and report in accordanco wth th
Act and cel¥v¥nt regulations rnade or having effect thereunder.
Our objectives are to obtain rèason8ble assurance about whether thè finanryal statements as a whok are free frorn
malerial misstatfjm¥nl. whether due lo fraud or e￿or. and lo issue an audilorfs report that indudes our opinion.
Reasonable assurance Is a high level of assurance bul is not a guarantee that an audit conducted in accordance
wrth ISAS IUKI will a￿ayS detect a material misstatemant when it exists. Misstatemants can arise from fiaud or
error and are consideied material if. individualty or in thè aggr8gale, th&y could reasonabty b• exp•¢t•d lo influence
the ecommic dec4sions of users taken on the basi8 of these finanrAal slatemenls.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedurès
li￿ our responsibilit￿s, outlined above, to dg19d material mi$sl¥lemenls in ￿Sp￿¢t of irregularities, W)￿ding
fraud. The extent to which our procedures are Capable of dÈts¢ling irregularitie$, induding fraud, is detailed below.
Extont to twhl¢h the aud11￿5 ¢onsld•r•d capable of dets¢ttng Irr•gularftl8s. Includlng fraud
Our approath lo identifying and assessing the risks of material misstatement in respect of irregularilies, induding
fraud and non-compliance with laws and regulalions, wo9 as follows..
the engagem¢nt parlngr ¥n$ured that the engayemenl team colthtively had the appropriate competen￿,
capabilities and skills lo identify or Tecognise nonvcthnpliance with applicable laws and Tegulalions,.
we identified the laws and regulations appl¢cable to the company through discussions with Trustees and
other m8n&3emenl, and from our knowledg8 and experiènce of Ihg sgctor,
we focused on specific laws and wulatiijns which we eonsidered may have a direct material effect on the
financial statements or the opgralions of the charitable company, including the Cofflpanies Act 200S. the
Charities Act 2011, the ch8rits.ès SORP, tsx8b.on legislatson, data prole¢tion, ant￿brIbery. employment.
environmen181 and health and safety legislation.
we assessed the extent of compliance wrth the laws and regulations identifi8d abo￿ throu9h m*ing
enquiries ol rnanagement and inspecting legal wrrespondence", and
idents.fied law5 and regulations were ¢ommuni¢atsd wrfhln Ihg audit team re9(￿31￿ and th& tsam remained
alert lo instances of n0￿CoMplI0n￿ throughout the audrt.
We assessed thè sus¢eptfoilily of the chaiitable company's financial slat8ments lo material misstat8m8nl. induding
obtsining an understanding of how fraud might occur. by:
making enrwiries of managemenl as lo where they conslaered there was suscepllbllty lo fra￿￿, thelr
knowledge of aclual. suspeclèd and allegod fraud., and
• considering Ihg intern81 controls in place lo mitigate risks of fraud and non-compliance laws and
ragulations.

STRATFIELD SAYE PRESERVATION TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
Audlt re8pon$e to risks Id•ntlfi•d
To address Ihe risk of fraud through management bias and override of ￿jntrds, we..
perfomi8d analytical procedures to idenlfy any unusual or unexpected Telationships,.
• revieweil all transactions listed..
assessed whether judgements and a$sLwnption$ mado In dgtgrmlning Ihg a￿0￿￿ting gs1imate$ were
indicative of potential tias,. and
investigated thg rati(￿ale behind 81gnifi￿nI ur unu8ual tranBaclion8.
In response lo Ihe dsk of irregulariknes non-compliance with laws and regulations, we designed procedure
which induded, but were not Iwrited to..
ag￿el￿g financial statamant disdosures to underfying supporting documèntation; and
enquiring of management as lo a¢tual and potential li1198ti¢n and daims.
There are inherent Ilmltatbons In our audf( procedures describèd above. The more removed that laws and
Tegulalions are frorn financial transactions, the less likety fl is that we would become aware of nOr￿COmplianCe.
AudiÉing standards also limit the audit prwdwes requir¢d lo Klgntfy n9￿complIance wrfh laws and regulatr'ons to
enquiry of the Trustees and other management and the inspection of regulatory and leg81 ¢crfresponden¢e, rf any.
Material misstatements that arfse due to frèud can be harder to delect than thosè that arise from e￿01 ès they may
involve deliberatè con¢èalment or collusion.
A further descriplion of our responsibilllieg Ss available on the Flnanual Reporting Counal's websote at.. https'./l
www.frc.org.uklau¢Jilorsie5ponsi)ilith?s. This description forms part of our auditorfs report,
Uso of our Y•port
This report 1$ made solely lo the charity's trustee5. as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we m*Jht state to the ch&ritls trustees
Ihosè matters we are requirgd to state lo them in an auditofs report and for no ot￿r PLwpose. To thè lulesl axtent
pemttted by law. we do not 3￿pt or aSSLme re8pon8ibility to anyone other than the ¢harily and the ¢harity'$
trustees as a body, for our audit work, for this report. or for the opinions we have fO￿￿ed.
Alllotts LLP
Chart•Y•d A¢¢ountsnts
statutory Audltor
3 London Squar8
Cross Lanes
Guildford
GU1 1UJ
Allititts LLP is eligible for appointment as auditor of the trust by virtue of its elgibility for appointment a5 auditor of a
ompany under secllon 1212 of the Companiès A￿ 2006.

STRATFIELD SAYE PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unr¢strl¢tod Unmtri¢ted
funds
funds
2023
2022
Notes
Incom• and •ndowm•nts Irom:
Donations and legaci8s
Chatitsble activities
Investments
Other Income
284,105
31.168
75.354
34,179
247.044
25.312
71,516
28.501
T¢)lal Incom•
424,806
372.373
Exp•nditure on:
Investment management fees
Charitablè actiwtse$
20.723
641,708
21,086
S13,677
Total •xp•ndltyr•
662.431
S34,763
Nel gainsluossos) on inve$tmonts
12
388,856
{421,7931
Nèt in¢ome1(expgndl￿1oI and moverngnt In funds
151,231
(584.1831
RKoThclllatlon of fund$:
Fund bal￿¢9$ al 1 January 2023
5,264.767
5,848,950
Fund balances at 310•¢omb•r 2023
5,415,998
5.284.767
The statement of finanual activities includes 811 gains and losses recognised in the year. All income and expen(kni
d•ri¥g from continuing aCtiV￿8s.

STRATFIELD SAYE PRESERVATION TRUST
BALANCE SHEET
ASAT31 DECEMBER 2023
2023
2022
Notes
Fixed ass•ts
Tangible assets
Investments
14
16
838,801
5.300.089
846,641
5.094,814
6,138,890
S,941,455
Currentass•ts
16
17
3,058
46.249
1.737
3.658
36.872
27.441
D•btors
Cash at bank and in hand
51.014
67.971
CreditOfB: amoubrt* falllng duo wlthln
on• y•ar
19
IT73.936)
(744.659)
Not ¢unYnt liabllltks
<722.8Y21
676,6881
Total as5•ts l•ss curr•nl Il•bilitio$
S.415.998
5,264,767
The lunds of th• trust
Unre¥tricted fijnds
21
5,415.998
5.264,767
5.415.998
5.264.707
The financial $tatements were approved by the Iruslees on.a.i.l.i.c)laJ2*
TheE
l of Anlrim

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounllng poll¢1
Charlty Information
Straifield Saye Prtrservation Trust is a charitable trusl established on 26 June 1984 and 15 a registered charily
(no. 289622}.
1.1 Accounting conventlon
The financial statements ha￿ been propared in acGordan¢o wlh the trusfs govaming d￿u￿￿nI, the
Charitres Act 2011, FRS 102 'The Financial Reportin9 Standard applicable in the UK and Republic of
Ireland. fFRS 102.1 and the Chaiitses SORP 'A¢￿Unting and Reportiftg by Ch8rilies.' Statemonl of
Recommanded Pra¢ti¢e appli¢able to Charities preparing their a¢¢ounts in 3￿rdanCe wlh the Finan¢r81
Reporting Standard applicabbe in the UK and Republic of Ireland IFRS 1021. leffectNe 1 January 20191. The
trust is a Public Benerrt Entity as d8fmed by FRS 102.
The trust has taken advantage of th? pmmsions in thg SORP for charrbes not to prepare a St818mgnt of Cash
Flows.
Tho finanual statemen15 are prepared in sterling, which 15 the functional cuThenLy of the trust. Monetary
amounts in Ihese finanaal statements ar8 round8d to lh• nearest £.
The finand81 statements havo been piepared under the historical ¢osl convention. modified lo include the
revalualion of investments and certain finan￿11 inytrumenl$ at fair value. The prinapal acts)unting policies
adopted are sel out below.
1.2 Golng conc•m
At the lime of approV￿g th8 finanual statements, the Irust8•s hav8 a r8asonable expedal￿n thal th& trust
has &Jequale ￿sourCeS to continue in opetalional existence for the foreseeable future. Thu8 the twsl88S
continue ¢0 adopt the going cxjncern basis of arcounling in preparing the finana81 $latsments.
1.3 Charitable ￿nd•
Lknrestllded fund$ are availablfr for use at the dlscrellon of the Iwstees In furfheran¢e of thelr tharhable
objecth'ves.
Restricted fvnds are subjoct to specfft condtbons by donors of grantors as to how they may be used. The
purposes and usos of the ￿$trI￿d funds $¢1 out in tho notes to tho financ4•1 $tst¢ments.
Endowment funds are sublect lo spedfi¢ ¢ondrtOons by donorn thal1he capital must be malntabnefl by Ihe Irusl.
1A Incom•
Income is recognised when the trust is le9alty entitled lo rt after any perfomian¢e conditions have beon met.
the amounts can be m¢a$ufed teliabty, and il is probable that income will be re¢eived.
Cash donations ar& recognised on rtteipl. Olhar donations 8ie recognised once the trust has boen Mlffied of
the donalion, unloss performance conditions require defertal of the amount. Income tax reCovera￿e in TelalK)n
to donatlons re¢eived under GiftAid or deeds of covenant is rècognised al thé timè of the donation.
Legacles are re¢ogni8ed on receipt or otherwse rfthe trust has been notif￿d of an impending distributhjn. Ihe
anK)unl Is known. and receipt is expected. If the amount is not known, the legacy is trealed as a contingent
asset.
Income from govemment grant$ is recognised * the fair valuè of assot roceiv8d or r8c8iv¥bl& when there
is reas￿able assurane8 that thè grant conditions will be mét and the grants will be received. A grant that
specffies perfoman¢e condthons is recognised in income when tho perfoTman¢e Condilions are mel. W)tre a
grant does not spe￿fy perf0rnan￿ conditions Il is recognised in income when the Proceeds a￿ receNed or
receivabltr. A grant rècewed before the recognilion criteria are satisfied is recognised as a liab￿lty.

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED)
FOR THE YEAR ENDED 31 DECEAIBER 2023
Accounting polici•s
Icontlnuedl
1.6 Expèndltur•
Income and expenses ar• Ind￿j•d in the finan¢i•l slalemonts as th•y b•¢ome re¢eN•t40 or du•.
Expanses exdudo VATwhere Ihi8 is r¢coverabl8 by the tharrty.
Re￿u￿$ expended are induded in the Slaternenl of Financial Actwitres on an accruals basis and we
allocated 10 4 $pecffic activity where costs rglate diredly to that activity.
Costs of generating funds are th? costs directly attributsblfj to raising funds.
Charitable expenditure indudes ￿ costs directty re￿lIng to the oblethves of the charlty and the ¢0818 Invc4vod
supporbng that work.
Support Costs include those costs connected with Ihe management of the thaws assets. organisational
management and admini$lralion and compllance with conslitutional and slaluiory rgquiremgnts. Expendilure
on support C￿StS of the eh8rity includes all ¢xp&ndilurs not dirèclly r8l*ed lo thè charrtable aetmty or
fundraising ￿ntUreS. These are apportioned lo the other activities based on time spent performing the
activities.
1.0 Tangible fixed assets
Tangible fixed assets are inits'alty measured at cost and subsequenuy measured at r￿st or valua1ion. net of
depreciation and any impairmgnt losses.
Depreciation is recognised so as to write off the ¢ost or v8luation of as￿t8 less their iesithl values over their
uselul lives on the following bases-
Freehold land and buildin9S
Fixlvres, fftting5 and equipment
Heritage assets
5°A straight line
Hgrftage assets are not depreciated as they are fyjnsidered lo have an indefinite useftl lile.
The gain or loss arising Dn the (fisposal of an asset is detemiined as the t1rf1eren¢8 betr￿ the sale procee(ts
and th8 carrying value of the asset, and is recognised in net incomellexpendilurel for the yeai.
1.7 Fixed asset In¥•slm•nts
Fixed asset inv8stmenls are inili81ty measureil 81 Irans8dion pricè exduding transathon ¢o$ls, and are
5ubsequentty measured at fair value al each reporting dale. Change8 in fair value are recogni8ed in net
incomellexpenditurel for the year. Transact￿n costs afe expensed as incurred.
A subsidiary 18 an enlty Control￿ by the tNst. Control is the power to govem the finanrAal and cyerating
poliaes of the entty 50 as lo obtain benefits from its activities.
1.8 Imp41rn)•nt offlxed assets
Al each reporting en(1 dalo. the trust rewews the carrying arnoun18 of its tangible assets lo detemmne whether
thor¢ 1$ any indicatiork that those assets have suffered an impairrnent loss. If any such indication exists, the
recovèrable amount of the asset is è$limalad in ord&r lo dètemiine Ihe ext&nt of Ihe impaimienl loss lrfanyl.
10-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounting polci
(Continued)
1.9 Skn¢k¥
Stocks a￿ stated al the lowar of cost and estimated sellng price less ￿$tS to compbete and sell. Cost
ctsmprises dired maleria15 and. wh8ra applicable, direct labour costs and thosé ov8rheads Ihat ha￿ b8en
incurred in brirbging the stocks to their present location 8nd cwdition. Items held for distribution 8t no or
nominal considaralion aro moasured the lower of Teplacefflent Gosl and cost.
Net realISab￿ value is the estimated selling prlce less all esthmated Costs of o)mplellon and costs lo
incurred Mi mat*elin9. $$lling and distribubon.
1.10 C•¥h and cash equlvalents
Cash and ¢ash èquivalents include cash in hand. deposits he￿ * call %%4lh banks, Olher 5hort-tenn liquid
investsllen15 wlh original malurilies of three month$ or le$s. and bank overdrafts. Bank overdrafts are shown
within borrowings in ryjrrent IHbiliti8s.
1.11 Flnanclal Instrunwnts
The trust has elected to apply thg pwslons ol Sectlon 11 'Basic Flnanoal Inslrumonts. and Section 12 '0ther
Financial Instrumènts Issues. of FRS 102 10 all of ils ffinanrial inslrumenls.
Financial instwments are recognised in the trusfs balan￿ sheet when the tnjsl becomes party lo the
contractual provi8itsn¥ of the instrument.
Financial assets and liabiliti$s are offset, with the net amounts wesented in the financial 51alemenls, when
there is a legalty enfor¢eable rigm to set off the re¢ogni3ed arr￿Unts and thère is an intention lo settle on a nel
basi$ or to realise the asset and s8tt19 the liability simullaneousty.
8aJlc financialassots
Basic finantsal assets, which indude debtors and 4Jsh and bank balances. are initialty measured at
transaction price including transaction eosts and are subsequenlly Carried at amortised cost using the effeciNe
interest method unless the arrang¢mgnt constitutes a finani>ng Iran$a¢tion. Whe￿ the transaction 1$
measured al thè presént value of the fuiure re¢eipls di$￿Unted at a m8rkel r81e of intsrost. Financial assets
classified as r￿1Vabl& within one year are not amortised.
8a$lt Ilnanclalllabilitios
Basic finanual liabilities, including creditors and bank klans are initsally recogrised at tran$aGtion pri¢x unless
Ihtr arrangement consltutes a financing transaction. where the debt instrument is measured at the present
value of the fubjre payments discountèd at 4 market ral• of intswsl. Financial liabilitiès da8srf*d 88 payable
within one yfiar are not amortised.
Debt instruments are subsequenlty carried al amortised C•JsI. usihg thè effectNe Interest rate method.
Trade cre¢&tors are obligalions to pay for goods or Se￿iceS that have be&n acqured in the ordinary course of
operations fiom suppliers, Amounts payable are dassffitrd as current liabiltties rf payment is due wilhin one
year or less. If not. they 3r& presented 8$ no￿t￿ttent liabilities. Trado credrtors aro rèLxignised inilialty al
transaction pri¢e and $ubsequenUy me88ured al amorti3ed cost using the effec*ve interest method.
0•￿c09n1tlo￿ of financial liabllhl•s
Finan¢ial liabilrties are derewgni$ed when the Iru$l'$ Gontraclual oNigotions expirg or arg dI￿harged or
cancelled.
11

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
{Continuedl
1.12 Employ•• bengfits
The cost of any unused holiday •ntrtl&menl is rec¢gnisod in the period in vA)ic41 the employ¢e's servi¢es are
reGeiv8d.
Tominalion beneffts are recognised immediatety as an expense when the tru51 is demonstrabty committed to
tomiinale the employment of an employe¢ or lo providg 16miination benofits.
1.13 Rotlw•m•nt b•n•fits
Paymgnts to define(l ¢onlribuiion retirement benefft 8chome8 are tharged as an expen8e a8 they fall due.
Crfllcal accountlng estlmatss and Judg•m•nts
In th8 8ppli¢alion of the Irusl's accounting policie5. the trustees are Tequired lo make judgements, eslimales
and assumptions about the carying amount of assets and liabilities that are not readily apparent from other
source5. The estimates and associated assumptions are basad on historical exp8ri8nc8 and other factors that
are considered to be relevant. Actual results may differ from these esllmates.
The èstimates and undertying assumptions are Teviewed on an ongjing ba8is. Revisions to 8ctounb.ng
estimates are recognised in the period in which the estimate is revised where the rewsion affects cnly that
pèriod, or in the period of th8 r8wsion and fvlure period$ wherg the rovision aff8c*s b¢)th ¢urrw)t and future
periods.
A key estlmalon In the 8ecounls is that the heiitage assets have an indefinite useful lrfe. giviro rise to no
dep￿allOn in the year.
Incom• from donadons and legacleg
Unrnstrlctsd UnreStri￿d
funds
funds
2023
2022
Donations anij gffts
284,105
247,¢)44
Incomg from ¢hirftsbl• a¢tivilie8
Unrestricted
funds
2023
Unrestricted
fund*
2022
Charhabl• activili
A(Imissions
Shop
18.062
13.106
20.591
4,ni
31.168
25,312
12-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
kncomè from Inv•stm•nts
unr•Stsict￿ Unr•striGt•d
funds
funds
2023
2022
Rental inco
Income from listed nvestments
Interest receivatle
37,944
37.143
267
37.200
34,267
49
75,354
71,516
Oth•r IncoThe
unrestrict￿ Unrestrl¢ted
fund•
lunds
2023
2022
Other income
34,179
28,501
Exp¢ndlture ¢n ¢harItsb￿ aGlivities
Ch•ritsbl¢
activitie•
2023
Charttsbl•
•¢tlvltl•8
2022
Dlrè¢t costs
Repairs and maintenance
Premises insurance
223,017
62,045
108,188
56,242
285,(￿2
164,410
Share of 8UPPOrt and govem•n¢e G￿ts (see nots 81
Support
Goveman
349,979
6,687
340.517
8.750
641,708
513.677
Anatysi5 by fund
Unrestricted funds
641.708
513,677
13-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support ¢o¥ts allocated to actlvltleJ
2023
2022
Staff costs
Depreaalion
Rent. rale8, Utilities
Othar slaff costs
Office costs
Motor running exp&n$e$
Travel and subsistence
Insurance
Bank charges
Legal and professional
Governance eosts
228.291
7,839
74.743
1.525
20,364
4,618
1,636
6,467
808
1,080
9,275
227.843
23,812
54.821
633
20.121
3,477
906
7,996
655
653
8,750
356,648
349.287
Analys•d between:
Charitable adivities
356.646
349.267
Govem8n¢e ¢xJsts indudes paym8nts to th8 auditors of £9.27512022- £8.7501 for audrt f88S.
Some of the Trusts support fun￿On are piwdgd wthout charge by Straffield Saye Estste. Thi$ support
includes the financ8 lunction, house opening and propety matters amongst others. Due lo the natu￿ and
variabilty of this support the Trustee5 do not considerthal il is possible lo quanltfy or measure the value of the
support and $0 no amounts have be8n induded in donations nor corresponi*ng costs to r8flocl this.
Net movem•nt In fund8
2023
2022
The nel movement in funds is stated after ¢hargingl(creditingl'.
Fees payablè for thé aLJdrt of the ¢harWs finonual statements
Depreaalion of owned tsngible fred asse15
Lossllprofftl on disposal of tangible fixed a$$&ts
12,022
7,639
8,750
28,212
14,8001
10 TrnJtee5
None of Ihe trustees {or any persons conneded with them) re￿IVed any remuneration or bénerrts from the
trust during the year {2022." none were reimbursed}.
14-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11 Employges
The avorage monthty number of employees during the yearwas..
2023
Number
2022
Numbèr
Full time staff
Guides
Steward
Tol
11
10
Employment costs
2023
2022
Wages and salari8$
So¢ial security costs
Other pension costs
208,280
15,859
4,152
210.173
12.107
5,363
228,291
227,643
The employ¥9 twmber ft)r 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 employ8d. r8$pactN•ty. AS a r￿ul1, thèy
are still induded in the average employees calculation.
There werg no empbyèes whose 8nnual remunera1￿ was more than £60.OCKI.
R•muneTrtion of koy managern•nl p•vsonno1
Key management pe150nnel received remuneration of £nil12022.. £nil).
12 Galns and10ss•s on investments
Unrnstrict•d Unr•strict•d
funds
funds
2023
2022
Galnsl{lossesl ari$irwJ on..
Revaluation of investments
368.856
{421,7931
13 T•xatlon
The tharty is exemptfrom taxation on ils aC1'v￿.￿S because 811 its income 18 applied for Charitable purp0888.
15-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 T•ngiblg fixed a¥*•ts
Freohold Iwnd
Flxturns,
and bul1dlfft￿ Ilttlngs and
equlpmwt
HerMag•
Co$t
At 1 January 2023
25,5
3S7,272
779,026 1.161,798
At 31 De¢ernber 2023
25.500
357,272
779,IY26 1.161,798
Depre¢iation and IMpalm￿nt
At 1 January 2023
Depreciation thargeL1 in tho y￿r
315,158
7.839
315,158
7.839
Al 31 December 2023
322.997
322.997
Carylng amount
At 31 December 2023
25,500
34,275
779,026
838,801
Al 31 December 2022
25,500
42,114
779,027
846,641
Hentsgè assets brought 8re held al Christie's 2008 valuation figure. Their histo11¢4 c08t was
£189.844.
15 Fixed asset Investments
Llst
Invè8tm•nts
Ca•h In
Other
portfollo Inv•6tmeni#
Totsl
Co8t orvaluallon
Al 1 January 2023
V8lualion changes
4,701,403
389,885
393.410
1184.6101
5.094,814
205,275
At 31 Dècember 2023
5,091,288
208.800
5.3CKI,089
Carylng amount
Al 31 December 2023
5,091,288
208,800
5.3fJ),089
Al 31 December 2022
4,701,403
393,410
5.094.814
2023
2022
Other investmants comprise..
Investments in subsidiarie8
23
16-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16 Stocks
2023
2022
Finisheil gts)ds and goods for resale
3,058
3,658
17 Debtorn
2023
2022
Amounts falling du9 Within on• year.
Trade debiors
Amounts owed by subsidiary undertakings
Amounts owed by fellow gTOUP undertaking8
Olher ¢Jèblors
Prepaymgnls and a¢¢fuèd incoffle
27
16,727
29,522
5,272
30,886
46249
36,872
18 Loam and overdr•fts
2023
2022
Other loans
700.0
700.000
Payable wilhin y*ar
700,000
700.000
The Other loan is interesl-fr88, uThSe￿red and repayable on demand.
19 Cr•dltor¥: amounts f*lling due wlthln one year
2023
2022
BowTowings
Other laKalion and soaal sec#Jrity
Trade creditors
Other creditors
A¢¢ruals and deferreil income
18
700,000
6,808
39,433
3,349
24,348
7CK).000
3.485
21.427
740
19,￿7
773,936
744,659
20 R•llrement benefit sch•m•8
2023
2022
D•ffin•d ￿ntrIbutiOn schem•s
Charge lo profil or lJ$s in Te$p8¢t of deffined contribUt￿n schemes
4,152
5,363
17-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR ThIE YEAR ENDED 31 DECEMBER 2023
20 thr•m•nl bon￿ $¢h¢m•¥
IConllnu•dl
The trust operates a deffined c(sntribulion pensron scheme for all qUalI￿n9 employees. The assets of the
scheme are held separately from th08e of ￿ trust In an independendy ￿lMInIStered fvnd.
21 Unre8trl¢tsd lund•
The unreslrict8d funds of th8 charity ¢omprise the unèxpanded balanees of donalons and 9rants whith are
rv)I subject to specific ¢onditions by donors and grantors as to how Ihty may be used. These indude
designated fvnds whKh have been sel aside out of unrestricled funds by the trustees for 5pectfic purposes.
At 1 January
2023
In¢omlng
rp50urc•
Resources
ewnded
Galns and
los$
At31
DK¢mbeT
20Z3
General funds
5,264.767
424,806
1662.431)
388,856
5.415.998
Provlou8 year.
At1 January
2022
Incomlng
•our¢
Resources
gxpend•d
Gains and
10$$0s
At31
0g¢•mb•r
2022
General funds
5.848,950
372,373
1534.763)
1421.7931
5,264.767
18-

STRATFIELD SAYE PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Related party trangacllon¥
Thè charity has a £700,rJJo loan trom a famty charitable trust which has been in place for ovor 20 yaars is
repayable on dèmand.
There were also some trans¥Aions whh olher enloties of whlch one of the Iruslees is a Injstee or a director,
summarised below..
t r8ethargès (for costs and wages} made from the Straffield Saye Estate lo the trust totaled £164.262
P022.. £58,570). Al the year end £1,99912022'. £643) was owed by the trust.
Nel rtttharges of £nil {2022.' £10,957) were made from the trust to the Stralfield Saye Fèm. Al the year end a
net of È22212022.' NI) wa$ ow•d to the trust.
Net recharges of £4,870 {2022'. £3,ODn were made from Wellinglon County Park Limited to tho Irusl. At the
y¢ai end a net of £1,442 {2022.- £796) was owed by the trust.
Nel tharge5 of £37.94412022= £37,071} We￿ charged by the trnst to Weifinglon Eslales Educalion ￿Mile￿ for
net of costs and wages. Al the year end a nel of£744 {2022= nil) wa8 owed to the Irvst.
Net recharyes of £61 12022.. £niil weTe made from Wellinglon Riding to the trust Ai th8 year and a n8t of £nil
12022". nil) wa5 owed lo the trust.
23 Sub*ldlarl•s
Thes• finanaal statements are separate trust finanual statements for Slraffield Saye Preservation TrusL
Detals of the t￿8rS subsidiaries al 31 De¢gmber 2023 are a$ follw$:
Mame of und•rt•klng
Regi#tered
Natur• of busin￿9
Class of
% Hold
sh8rts ￿ld Direct IndiYe¢t
Straffield Saye PreSerVatic￿ The Estate
Limited
Offico, Stratfield
Saya,
Hampshire. RG7
2BT
Trading $ub$idiary
Ordlnary
100.00
19-