STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The Stratfield Saye Preservation Trust is constituted under a trust deed dated 26 June 1984 and is a registered charity (number 289822).
The main objectives of the charity are maintaining and restoring Stratfield Saye House and chattels and archives relating to the First Duke of Wellington and opening the house to the public.
The trustees who have served during the year and since the year-end are set out on page 2. The minimum number of trustees is three, and additional trustees may be appointed at any time. The trustees meet once a year where decisions are discussed and taken with any minor decisions being taken by the trustees' agent following consultation with a minimum of two trustees.
Relationship between charity and related parties
A majority of the trustees are independent of the Wellesley family. All transactions with Stratfield Saye Estate are carried out on an arm's length basis.
Investment Performance
The trustees' investment portfolio is held and managed by a leading investment bank Rothschild & Co and the portfolio is regularly reviewed.
The total value of investments increased in 2024 from £5,300,089 to £5,741,163. During the year £280,000 was drawn down and there were unrealised investment gains of £706,275. Income continues to be generated by let property, admissions and donations.
Review of the year
The charity carried out normal repairs to the fabric of Stratfield Saye House and works of art.
Stratfield Saye House was open to the public during the Easter and Summer of 2024. It also accepted a limited amount of tours for local art and historic groups.
Stratfield Saye House and its grounds are maintained by the trustees in a good state of repair without recourse to any grants. The house is open to the public and the level of visitor satisfaction is high. The trustees confirm they have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
Achievements and performance
Fundraising activities
The charity's main fund raising activities are from donations and from investment income. No professional fund raisers are used by the charity.
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STRATFIELD SAYE PRESERVATION TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Financial review
Reserves Policy
It is the policy of the trust to maintain a fund sufficient to produce an income to maintain the fabric and grounds of Stratfield Saye House. The trustees hold an investment portfolio and drawdown 4% of this each year for the annual expenditure of the trust. The income for the year was £424,289. Total expenditure for the year was £648,682. The investment gain of £706,275 resulted in a net gain for the year of £481,882. At the year end free reserves including investments of £5,741,163 and a loan of £700,000 totalled £5,897,880.
The trust holds a fund sufficient enough to cover half of the annual expenditure of the trust. It is the medium term aim to reach enough to cover all costs of approximately £550,000.
The trust currently holds fixed assets of £6.6m including investments. It is the intention of the trustees to try and add to this figure so as to provide for the full running costs of the charity, but in the medium term will need to rely on donations.
Risk assessment
The house has a modern fire and burglar alarm system. An annual health and safety inspection is carried out together with a risk assessment. An electrical installation inspection is carried out 5 yearly, with portable appliance testing being carried out annually. All staff receive appropriate training.
Plans for the future
The trustees will continue to maintain Stratfield Saye House and the collection of works of art in the Wellington Collection and to open the house to the public.
Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were: The Duchess of Wellington Baron Piers von Westenholz The Hon. Edward Clive Lady Rachel Billington Earl of Antrim
Trustees are appointed by the Duke, as per the Trust Deed. A skills audit is carried out annually to identify gaps in the skills sets of existing trustees.
None of the trustees has any beneficial interest in the charity. All of the trustees are members of the charity.
The trustees' report was approved by the Board of Trustees.
.............................. Trustee
Dated: .........................
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Ch•rfty r•lll8tr8llon numb•r209822 STRATFIELD SAYE PRESERVATION TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER2024
STRATFIELD SAYE PRESERVATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION ofweil Th• Hcm. Ethward Cfve L R¥hd Blmrwn Tho Earf ofAJ l•rtty nwnb•r Audltor Az•t6Aud Sw GAtth¥ay Hou Chandlors Ford S053 3TG Bl•ndy & Blondy 1 Frfar Stroet RlThj BthBhbp Untted lQwkyn RG1 1DA ROth8ch1 & Co. Ngw Court St Swlth&n'# Lan• EC4N 8
STRATFIELD SAYE PRESERVATION TRUST CONTENTS 8tsm8nl cArmrlI1 9-18
STRATFIELD SAYE PRESERVATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Thtr trwtees pr¢gtt arml It8n forlhe y•ar •nd•d 31 O•r•Tr&>or 2tr24. The fftr•l 8talThnts ha¥• bwn FT•POrod In •etoYthn¢• th tho accrlI¥j lot eArt h not• I b) th fffjand&l •tatomgnts and trusts govemknu docurnoni Chart8 Act 2011 AThJ by Statgmont of R4ttffirMnd•d PAce• ithl• to chariuu prepar¥ IhBtr accty¢knnr• tr Financbl Raporung Sdrd •pplW• In the UK and Rvpth1 ol IrthE IFRS 1V2)' loffoth• 1 2019). Tho Stratfièk1 PT05ervatiLm TnJ6t l• Coti•d undw • trust deed dated 26 kn• 1984 • rrylater•d dwiity {nunthr289822). Th# rroln 4Jecllves of th• ch8rty ¥6 makntthkng fjnd Stroffield S•yo Hcxme and wK1 arthl r•latkng to thg Fr•1 ofwdllnobjn openkng the h80 wblk. Th• vhb) hav• sthv•d durfng thè yegr And the yoar-•nd are 88tout ¢m P•9e l Thè mlntrrmn numbw ol tNstaè818 thrno. and addmLmwI trust•o8 may be •ppotrrted at any twm. trust mwt (mc• a year d•chkn8 are dla(ths•d and taken wlth d•cknkTh kn9 tak8n by tr•8&. fr)IWr onsdtallon ¥A1h a mknlmum truJtèo8. R•lattonthlp b•twwn ¢hwXy and Y•lat•d rIl•S A malcty of the 1vJJtg85 aro 5ndyndont of th• f4M1 Al tromaourm 7hllh Stratridd Sffj• carTW (Art an am's b1 The tr1•, knv•6tsn p¢thlo kn hokl and managed by o h)N••I t•nk Roth8(4kJ & Co the Tho vAlu• rf Inve8tslI knuoo8od kn 2024 from £SAQO.089 to £5.741.163. Duthq fv par É280.000 was drawn do and there wYr• UnTlLd IThvthnt gdn8 of r106,275. IncLWrn tcdthuos to b• 9t•d by lot Fryiwty. Ind +SJnobDn R•vlN trf th• y•v Th• Charitycwriod (Art trtrthefabrfo ofstrafflold Sa>Tr Hou89 wjd ofarL Str¥lfi¥ld Hougo open kn the publlc durkng tho Ear 2024. tt 0150 a lIthd Jni of lours fty loca artand hl$twK Fun¢al$lng •thlU•s Thg Thln fur r•lthg ethAtlg9 •• from dDnth from inYaBlm•Ybl 5np)m•. No Jnd r¥L¥•rn r• US by th• clwlty.
STRATFIELD SAYE PRESERVATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 R•tyoFvrD Pollry tt 1$ the pollcy of the tr1 ti> mllnlakn # lund SLtfflclent ID wodLU lo malrrtaln tho fabit ttnd ftd of SIMtN•id S8y• Hal•. The tNstoe6 hdd an in¥•sbYont pDrtrc40 and dravth4bf 4% of thb oech ybw for Ihe anNal &xrrdt of IMSL Thè Incom• for Iho yew was 24.269. T(thl for the yw £048.682. The Invèstment gakn Of£7.275 rwJlt¢d in o Mt gdn )rtt yew of£481,882. A ** fm raw¥gB in01t Imants cA£S,741,163 a lo rJ£700,000 tcldl•d £S.897.880. Th• truBt holdB a ¥ufvonl enough trj cav•r hair of the annu81 of ts trust It18 th& ts to r•9¢ to cwall Lxts olappToxknr• £5fyJ,000. Thg IW5trrenty Iwlds fthod aM•ts ofÈ8.6m Ing knw8ln. tt l& th• InttIon In•kn•J lo ty nd add lo thL8 Iu so ts to provlde tr the fvll runnkng o)sts ul thg iwt rnodlum temi need to rnjy on The Ise has • modern fflre and Miknr 8lm vi81gnL An •Mual hoth and tsthty IB tX•d t Joothor wlth o Tl¥k assml. kn 4•¢knlcal In$t•7C Is cafflod out 5 yty. TAth aF91ete819 bekng Lxrt 8nnudty.N staff pproFrfltraknkN. The trustees knyl nnU8 mokkn Straffidd th8 eolecth)n of Wa of art In th• IV•yi Th8 In1•?8 %%tK 8•rwd tty•ar ond io th• dot• of•kdn•knr• ofthefmndal stst•mts Tlw of W•llliigkni Bar Pi¥rs V1•8twthL Th• Hon. Edwwd a Laty Rach81 Blllng Th• Eart thknlrin (rn81gn•d 26 iIy24) Thst•es are appc4ntgJ by tho Duk•. as w th• Thwt Doed. A 8klkN autht18 cthed out Thjoly lo kjrfy 9• In thg dlls of•xWr¥J trpxtees. Nong ofth trustwg hA8 w bwfKlal Int•r•st kn th0 thorIty. ofthe truthw we rfthè tharty.
STRATFIELD SAYE PRESERVATION TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The tnMte08 are 1wp1bre >r prBp¥rkYJ fv Tntg•5' Rwt and the flnaMJal statThts in acclde lth apF4lcablJ Iw and Unw Klngdom Stsdavth Iunlted KSwd(¥n knptsd 4xXYtI1v4 Prnchco). Thv law to dwrlU•• kn Enrnl arnl Wakn tequ•$ th• tru8to88 to PT¥PW• fmndal ¥tot•m•nts for eaL fin•rthl ye•1 whk ge tt In •nd f•tr ot tho 8lat• of of tho Iru•l and rl thè Imimkng reB¢Krn p11% of f•WJL¥C• of# tnjst for that yoor. In tY•p¥lng thow fmnclal tner. tho arn r•quked i . 5ol•d wlt•bl• pollctel and then App them CLThIsty. - obEor¥• rrnttKKl# aThJ prfrKye8 in lh• ChfjrSU96 SORP.. •nd ewldne(I In th fflmndwl stat•m., and . pare th• 8tmonts on tho Onll Mncem b$ urlou IB knapprofv > that fv chn 11 cy•rallon. Th• tr(ts•& arn wewffjiblè for kwlng sufflc4ont acwJntirvJ r•tyyts that dsdo8e wjth rwonttblo at any lino tho fina pNIIkn ol the Inwt •nabbg I•M to en64w• tsl th• statomonts cL¥nrAy the Charftkn Act 2011. th? Chwlty (ACttnts and Rem) Regulatth& 2(th arAI tho provl8kvw clth• tnmt •d. They arè r•spL$ll3kn for suardkng the ass•ts of ts tru•t •rnl h¢4 for laklno rn08on8bl8 stw w•On and d•t•clon of fr81 and oth•r IrrngWArlll• Dat•.. a41.das...................
STRATFIELD SAYE PRESERVATION TrUST
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSTEES OF STRATFIELD SAYE PRESERVATION TRUST
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STRATFIELD SAYE PRESERVATION TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STrATFIELD SAYE PRESERVATION TRUST RMpon#lblltl•• of In•t A• èxplalned In thè 8latement oftruu' 461b1111[K tntstees afB lor thi w•par8t of the financ slatsThThts and fly b¢lrvJ salsffi•d thBt thèy glv8 a tru• BrKI f4kYlvK oThl for #Lth htemal con14 as th• Irustee8 detemlne Is to thè prepgrBkn d fmandel Bt8temgnts that we 1rn8 from maloml rn156tsknTWrt vthoth•r Ij to lrnud { error. In Frfgxrfng th• noI stthrnents. th• hwstèos arg for ¥8B31ng thB Inmt's &llty a6 Q go d15rj0nll. gs re18ted Io 901 con(m u5kn9 ths golThJ ba811 of Kc¢¥JntivvJ thfr t¥t IntarKI to c•as• ¢pWatkl, or h•vg no rpallBlk aKemal¥e Ixrt to do so. W• have b$8n apFolnt•d aB audknr undgr 50don 144 01 th• ChortU80 412D11 ond rBF)rt h) xaxthnL¥ Tth th• Our Ot1#¢¥v Ar• to obt•ln Mason• tht wholh•r Ihe sletements a• a frryn miB8trrl th8ther du• to fraud ¢¥ and to 188uo an that IrKlthJes our ¢Jplnlon. R••sonable a8guron¢• 1$ a hh3h leb aBsurBnc• but l• not J bw•r•ntee th•t an •Jdh Ju8d kn 8fyxrd•nco th ISAB (UKI wlll d•ts¢i • makn'al mbstat•mert lthen tt othts. PA0$tai•ry from frnud or 4yror •nd $rn ¢toI8d rf. indNldualty or In thg ggr•g•te. Ihey Ubutd roawnabtybe e¥po¢t•d to Infiuw¢• thw 41ecWoM ofuo8rn t&knn on tho 0fthOIandIl slatrnt& A fittthor d•xrlplon of I¢8ponbllrtl9B LB av•lWA on Ih• Fkn¢ RfjFtyNdng C(wndf• ¥L. hlty6Jl ww.fr&Orgk/aUdl1ryWpmlb1. thscriFltJn f¢fft$ wt of our 0J1101% r•port Extont to whl¢h th• ¢ortr•d Pabl• ol delDGtho Irrnqulwlllo4 Inthdkng hud IUdIng f1, ar8 Instsn$ of non-L¥ynpllanc• w5th laws and r•gukntknn5. do8Tr proc•thJm In lino with our rowi¥biltw, abtsv8 on the FIn0nal CouA¢M$ ybIle, d•t•ra rrAt• In resF•¢t of IN•9aT11. Ir¥ylng fraud. Wo obtath updat• our of th• •th, Itk ilts (ortrd •nvknmgnt. w#J Ilkely I1¢ dMlopm•nts, iAdwling to the legal ono rogry frAff£work applkAblg wd howthfr wtity l• Ih¥t fr8mwork Bas•d on thIB UndStandby. IdtIfy and the rtsks gl fflatsNg1 of ftr$arK 8tptern•nts, whethw du& to cr dtr8bJn and Trn proc•dw•s r•Ton91hYi to ¢bIn •udit 8vld•ne ihat 1$ •ufficiont and aPPTopri¥lo to wovlde our 4>In1. ThL6 COMl•kn ofth• tskofaetl by th• onytythetwgro contraryto la •ThJ Includln9 froud. ]n respon to the rtsk ol kT•gurllleg •nd Mnwrnplarte Iwln Jrwj regulikn$. freud, wa d•s&nod . Enwwy of rnnagement t10 tharg¢d wlth ar¢urrtl •Gknal potsrthl and rJen8 08 Twqll ag grknl, alknwj frwd" . A06$g tho •xt•rt of ccmplL4rKo with thè Ibws orKI reqall0n• raSkId I) hwo a dlTrL mbtwl elknl on the froKlal statOnWrt8 ry tho operath)n ofth? enlltythr¢ugh erWIryd in¥•th; . ffind stoterr•nl dlsdosures and 1gBllng ¢0 supporonp dowm•ntakn to 0686 Lwlanc• th •Icab la •nd rOg8OnI. . Pirfomihw autht over the rtsk of mngu•rr•nt bB 8fKI ovwrfdB (Kf rmI6. 111 l•¥Ory of erth¥ ond adJu$tsMnts for apprOpriatsrS8, •vaKwtin9 lh• tAMheB8 of ofthtr Im1•OJ ol an audlt, thorn i• a rhk that w• tht•ct dl IrWU11e 1x4lIng tho In fmnc4al 8tatsmenty 88 ¥ 11 bo less Ilkety t(> ol knstsnces of nThFimpILance. Th? rf¥k ol not d•t•thr¥ • rT¥tsri41 rttht•tenw fr frJLtd li hlgher them tr Lv r88ultkng from •rKY, as fra1 MAY
STRATFIELD SAYE PRESERVATION TRUST INDEPENDENT AUDrroR'8 REPORT (CONTINUED) TO THE TRUSTEES OF STrATFIELD SAYE PRESERVATION TRUST UB•of our r•pwt TN6 rep)rt1s made K41fy kn th• tnMtO•8. av a l))dy, in •to)r pert 4 of th• Charftl88 {Att4xmts and R8p¢¥tsl Regthtkm 2008. Our audSt been rtak so that w nJlt tho thaws tru&t•gs th058 mattorF aT• r•qulrad to stste to Ihwn in gn auditoe Iwrt and ft>r no (ther PWPOBO. To the leSt extent law. wè do Mt a(wl or r99tTh$lbllty lo an>vne otlw than ¢twlty •ThJ trut a¥ a b(. for our wdft wcffjK the rUffd. A,1 /LU I e/viLu for and on boh10¢ Az•l• Audlt 8•rvk Thtrd Fknr. Gateway HCAM Toloate Chandl£rn Ford Unft•d lthrydom knts ALXIII Sms Is dlgble Jr appoknbn•nt •s aAllOr of the tswt ty vitiJe rf Its •iknlbllty ftw 4ppokn audttor ola under 8•cOon 1212 th0 corn Act20(fi.
STRATFIELD SAYE PRESERVATION TRUST STATEMENT OF FINANCIAL ACTNMES INCLUDING INCOME AND EXPENDMJRE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2Q24 fund fu Donouons and kn90A 272.500 29.047 284.1 31.168 75,354 34,179 Invwknonts othor Incom 42.D18 Tot•1 Inc4* R•lglng fuThls 20.723 Charllobkn 28.220 641.708 Totsl •xp•ndttw• 648,M2 061431 Nei galrAllbyg08) on InbwbThints 13 7(ffj275 388,856 N•t mgv•m•rt lfi 481082 151.231 FUMI bolarrth At 1 Janwy 2024 5A15.998 s,767 Fund balafte•• al 31 D•c•rnb•r2024 5,497.880 5.415,998 Thè statenl c1lln0nc aotfvth6 IrK4udo5 all gal •nd kw•8 fWAyJnkwd In Ihe yw. JI InNn• ar •xpendltur• dwlvo frnm Jxn¥nulw lMt.
STRATFIELD SAYE PRESERVATION TRUST BALANCE 8HEEr AS AT 31 DECEAIBER 2024 TaTrJlbl8 Bss•ts 6,741.183 5.3W,089 6m,122 6.138.890 17 3.058 48249 1.737 Cash al bk •YJ kn t4nd 51.044 Gr•dltorn: •mourA•hlllng du• wllhln on•y4•T (ll9,54T) ff73,Ya6} N•t ¢wnw11obHths 1674242) c892> T1 •b••ts 1••8 ourr•nt Ilablllu S.7. 415.898 Inoam fvnd• Unr•Str fundi 5,897.880 5.41&998 5.897,880 4415.998 knfindel oiatomWorV tyth•Th*tws On8..101aS
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR TNE YEAR ENDED 31 DECEMBER 2024 AcEounllno pDllcl•• 8traffield S8yo Pr•8•r4alk>n Tru IB a tharknblo trwl gstablhhed on 2fj 1984 dIe a r•ul8tor¥d thry {nty 2898221. 1.1 Accountlng ¢onv•ntkn Yhe finan41 ¥tat•mont• havo bwn prepgrnd kn A(rdEn wlth the trusvs govkng documenl, the Chorfdes Act 2011. FRS 102 7ho Fingnwl Ropkvtsrvj Sl#rHl8rd amjlcablè In Ihe UK and Repu{C of Irdw(r rFRS 10r) •nd th• Charlb•s SORP 'Acawnlng and RsrtO by Chartsg5." Statemwl ol RecMded Prnclltè ar•18 kn tharilio¥ 0¢nts kn Aethyd8nL% vjllh tho Fkn8ndd Rop Stsndard a8t8 In Ilw UK and Rep)1 of It•land (FRS 1D2r (•ffocU¥v 1 Jwuwy 20191. Th• InMt IB a P1) Be Entty as by FRS 101 Th• tru•t hal 1ok•n ooWag• oflha provlTh kn tm 50RP th•08 not to a St&am of C•sh •moLhits kn thaaè tht•m rnded to th• nwr•¥l£. r•vAatn offr8ohtJld prop•ts• to Wide Invthnt arKI c•rtih fili1•1 Instruments at Tr Tho txlnc4pal amnonq pc4k498 0(Wvd ¥•t (rtrt b8kn Al th• tlmg of typroty th• fknancknl tho InHt•Bs h¥¥ • r•a8on•bts that the tru81 ¢(fflIIrfy kn >Jr•tth• Ong conlxn b86L8 of kn pr•p•rlNJ fv frkn1 Itatrnits. l.¥ Ch•rkth fvnd• Unrè#M¢4¢d fvndB 4rp for UB• at th• ¥knllDn of t INgi•e# l) furthgranc• of thlr th•rl•bl• R8strid•d )Imds arn $•Cl tr) wNlc e4JThllUo ty a6 to th•y may t• uxad. Th• 1P0s08 0Th1 ot lh¥ TrslKi•d 8ètiWt in the notss Lh• Inerwl r¥tatsThi nt& Endolwnontfwth m subi•ct to C1kM by dorm thotthp iapltal bè byts 1.4 kn¢om• Incomo is r•(xwlMd thg trwt l&1•oaHy •nUU•d to It ts any p•rf0m1 con(¥r been m•1 th• arr4yJnts m••aw•d Telabty. and li IB th IrKom• TAryI bo rn[¥8d. C•sh doon$ aw• r•[¥1 Crfb r•L w• recogni? the tru•t been no•d of th• r[Omrth ndulDn rnqulr• deforr8101th• •rn(wJnL Ine(th• rocovgth in IalOn roCoIvod d•r or daods ofeovgn•nt l• atthg lkne rfth de110n. Leg•c¥ arg rwintspfftj on r•clpl or otharts• tru•l has b•8n IK of•n IM¥ dbullL. th 469•t. InfW trcm gtymnmni w•rrt# b r•L>3gnW ot the falr valuo of f•c•lvtd or r•cthImt vA*n 1$ reosonoblo aBBurnnc• that the w¥nt condltknns wlll b• •nd ts grAnt8 wll be rorfjpml. A gront Ihot grant does t)Jt 8podfy pwknnwKfj IndlIkTh R Is r•rxsnlsed In Incm th• J¥d8 we rncdvabL•. Agrnnt reuived bofuY• the rocognlllun dtsrla v•s•llbW l• r•ccgrfBod ag 011gbllty.
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMB&P 2024 (Conlknu•d) ExpdIbr0 k TroJgn180d On 1$ a al or cenBlnKtlv• obllgthri to Irarth 01xnni b8n•fft to lh1 porty. It kn probable that a transforrf 9¢0Mle berfits b• rnqulrnd kn 8old8m•nt. •r•J tho Amtxmt ol lh• obll9akn m•A8w•d r•llatty. rknlfod ty athty. The coslB Of •xlt athlty arn mAd• of Ih 1DtsI of dlrncl qJsl¥ and $hBred Cts, Indudlng wpp¢yl ¢••ts Inv¢lvod In ortalI¥j •cJvlty. Dk•ct ¢c&ts 8ttdImrtr• vrty aro 8fkKotsd dirrt to that actIty. Shw•d costs ch sxnlrfbute to than on• and wpport c<6ts not to a n9 astivKy •r• apFortsoMd b•lwn th08• on 8 bad8 oNl8t•nt with thè us• cf ra$Dur. Central Jtaff costs am x41¢d on th• 1¥ of tlme swrt And d8wocFatk>n •lcrt•tsd tsn tha ol thé au•t'• u. IA Tw4¥bl• Ilx•d u••l• Tangbl• tIMI o1¥01$ •• IrldÈlty m•agur•d 01 WKI rywur•J at CO tRJa, not of d•pmciallon and any ¥M•tIO08• Dop1 Lq r•ttrfJnL8ed so as off th• C¢At ofaBsoth l•w thelr r••ldual over Ihlr u80fiI lè on folDwkw bas•s: Fr•tlth knd ond buldkng5 FLxtLtM. ffltlkng8 And Hgrll•Je 88$8ts 20% str•loht11 Nl HgTttog• nDtdeprwlatod as Ih•y •T• cx>ndd•rnd ) knd•lnlt• ulul Ih. Th• 94ln or loss wl8lThJ on the th6FQBal cl an aSB•t IJ dvi•rmkned a6 the dknco bn th• ycu8dB and th• c•rylng value oftho aJ8eL and18 In statThntolflnAndd atthtlkn8. 1.7 Flx•d •M•t Inv•strnenl& FW a888t llwe81 aro kn5Ially m•uur•d •t trw••cllon pr[(¥ exctudlry trqnBxlon a ubB¢quenty measured at falr value at o• rnp>rting dAt•. Ch•ng#¥ kn f•lr Y•1 Arn r•r4nll in Mt IrOrne1{0ypwdHurèl for tr¢ yèar. c08t8 •r• 8xpÈn&ad as knrrOd. A S)91dlery h On ontty control8d by thB tNsL Cbr Is th? pcwor ty s¥)wm Iho flnarKa•14nd owixyng oftho enlty Bo a8 to obtsii b•nolN¥ from rtsadlvldes. 1.8 1Mlrnnt Offmd ••••ts At ea¢h rnpc¥thw wd dat•. the the Cllv4 •rMinkn d Its l•wl>le a8Jets b d•tsmilne Th•th•r r• IB ary Indk4llcm that trth)$0 asB•ts hw• 8ull•rnd on ImlmnI ¥uth IrKII(th &xlBts, tt re(¥)wrablo arwjnt of Ihg •88•t18 osUm•tod In ¢yd•rto d•t•rmlne the exientofthe knpoirn•rt Itlany). 8tod(8 we st•tsd al ts kfivor crf 4X8t end Mllmat•d 1kno ¢& 1088 ciwl¥ to And 8011. Cc4t +xAnprtS•B mator41$ Y4hBrè •pplc•blo, diroct Lgbwr cos18 and thoso overtld8 that hav• b•eTr Incurr•l In bdnglng the stock6 to tslr prtsènt hxYon condttlon. IbmB hold tr dhtrlbjtbn at no or nonknl mkknlk)n •M mMsur•d tr* hxerof r•plx•ngrt &rysL N•t r•81[89L ¥atuo 18 th• •8drnat•d s19 pru al 8sttmaknd ol eompletion and costs to be yjrnd kn markthg. 8ellkng and dl•trtlyJlkm. 10-
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ourtlng pollcl• {cOknU•d) 1.1• C8h and u•h •qulval•nts Cash aTbJ cash eqthi•lents Indudg ea8h In hd, deposh h•ld •t call Wrfth bonkn. 8horktsm Iltwld Ihin borrOn98 In CAwront IlablMg& 1.11 FInlI1 In•lrwn•nts Thg trust hos electsd to y Iho of S•dlon 11 'Boslc Fhw¥Jql lrntrurn•rts' •nd SKtk)n 12 FhÈrthl IrAtnvnI9s OIFRS 102 offts ffflard41 InstrLtrryl Fiwnd•l kn81nwn•nts •r• r•Gognl¥•d kn It tho trus1 wty ID th• cvntrn¢tvd ofth& ls1ment thgro Onfoabl ht to Sot dlth? rgeognJd t4nounts th•rn1g • wt basiB or to th• assèt and 80th• tho Il•b41ty 8bThrtknouity. Bath rOI 888&ts. whh Inthd• tJebtor8 g1KI c48h 8n+J bank bdc••. ar• m•asurnd al wk• Iransxlcffi cts •r¥J 8r• yjbwuenty caffjed at Brr oogt U51ng the off•th• trrteresl urAeJs the aThan9¥n CL3119 & fnanckng trwnwlkjn, transacknn i m•a6ured •t the Prort volue ofthe firture YeIpts drIod at a m•tsl rnt• of Intwe¥L Fk•rKA•l os$0ts das6hlod roravablo arp not •no¥•d. BaBk flnwdal1Iltt1O, Indu¢JNJ 6Y•dltOf6 wvj Trlatod party loan• •r• f•crynid at pr• urd•s8 tho •lrnr0•Nbt cimstitulès a lIne9 whor6 the dabt k£tnThinL IB m•alw 8t th• present volug ol the futtTr paYnI at a m•rtst of Interesl. knndal IlabllMo8 (knffjgd pw•bl• wthln one arn Tr)t on11Y. D•bt arn camgd al th• offBLth• hrwt r•t• mDthod. Trts ¢xodltorn are obltgallonF to pay kn gocd% or that hav• bw acqulrod In th cKdlnary com of )p•r4tlon5 trom 8upplkn¥. PAyth tn da111•d curnnt 11oblllU88 Sf pwyfjwnt Is du8 wlthln o yw or I. K noL Ihoy 4rn w8oritsd as non-QUfTont 11obllttl•s. Trade uedltis are reooonlsad Inaty at 1•bIl¥S deT•trJgnkned Iho tru8ts eorthchRI oblWkn$ •xph (r or cancold. 1.12 b•n•lll• Thg cost of ¥ry hollthy •ntidwrnt kn t•ewwd In whkth h •rnth••'6 $gnlc 1orNdnai• th• •1)Ym•nI of•n ernployo0 or to twrfthAtk)n bo1 1.13 R•drnrn•nl b•n•fft• Paw8nlB to dned C¢ntrknon ¥rn dwrgwj aB •xyn8• as Ih•ylal du•. 11
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTrIUED) FOR 711E YEAR EMDED 31 DECEAIBER 2024 crtlc•l aeeounthw •stlm•t•• andJudq•m•rt• In th& alICall of th• trusfl accountkng th& truts•¥ 8rn mqulrnd to mak• hidg8mrt 9sUmat•8 8swmp¢knM Ab1 lh• canykng amount ol a8s•ts arnl IlalA¥ts8 ttHt are not app8r•nt Ircfft otrr aré c4ThhJored to be Televent. Aal rowAs maydMlèrfrDm th0 9sUm8t•$. A koy •thntitth h) thè th•t th• •sJets hth8 an IrKIrNI0 us•fi If•. li tr> nD Don•fl•n• •nd •¢1gs fund• 272S00 2B4.1( Ch•r1tdt •dl¥ilieB UAv••trlthdUnr•tFletthY lund• fvnds 2•24 2023 Adm1$¢# Pth(¥> 17A25 11A2 18,082 13.1 29.047 31.1fj8 knv•#tmnts fvnd* 43.23S 37,281 37.944 37,143 287 from llstod In4wbme .724 75.354 12-
STRATFIELD SAYE PRESERVATION TRUST NOTES TO ThE FINANCIAL STATEMENTS (CONTINUED) FQR THE YEAR ENDED 31 DECEAIBER 2024 Olh•r IncMI• lund• fvndo athor InL¥ 42.018 a4,179 RthIDg fundè UNwtrlGt•d UN••trlct•d fund• fvnd 462 Charltablo actlvld•s Unmtrf¢t•dUrn••trktsd lund• 20ZJ 2024 Dlr•¢t co•1• 143,329 96A49 223.017 62.045 299.778 285.iF2 8harn of supp and 9mn¢• ¢••ts (s•• nol• •) S(ypr*t 376.692 9.750 347.371 9,276 826.220 641,70B 13-
STrATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support£¢ support Gw•m•rw 21123 229,46& 229A68 228291 7.839 74.743 228291 Depredatknn R( Tatej, 1 86.161 351 20.378 5,821 88.161 351 1,378 5,821 1,858 74.743 20,384 4.618 4,818 1,636 6A67 InwrAnc Bank charg Log and wofeBdonAI 9,750 9.750 9,275 9,275 376,892 9,750 347.371 927 351648 Charftablo a¢trAb 3Th 9. 388.442 347.371 9275 356.046 GwrMnr Fwntstrl ts •IllI5 of £9.750(20 £9,275) fc w¢Jif••s. 10 N•t mov•m•Trt In fund• N•t fvnd8 h st4l•d •ftwdwgkngl{u•dhlrg) Doproclallon ol Mi•d t•n9lbl•ftt•d 8s*•ts 7m9 thg (2023.. n(8 werg relmbw50rfJ. 12 Empl•y• Th avernge m(thly number Of•ThW dudbvj th• >wr w Numb•r NINnb•r Full staff 13 11 14-
STRATFIELD SAYE PRESERVATION TRUST NOTE8 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECWA8ER 2024 12 Empl•y• IConllny•d) 24 7,944 17.049 4A75 208280 15,859 4,152 Soc4al ¥4rtty costs 0thWpord L¥>sts 229.468 228.291 The •ThWoyeo nyth8r for Guld•s •bove IB ts 8v¢rage ovwthé yoar. Guldx Iwfft•r. onty used OJrfrvJ month8 olrI and Septsmbw, th 18 22 8rrWoyed, re8peGtWI.A8 A ro( th•y •r• #tll Induded In th• aver¥e 10y•8 cAtcul8lw)n. R•mun•rAdon ol k•y m•n•gfflMnt )n•1 l¢by mlnagwnwrt prxmn•l recalv 1pmw ofÈnH (2023: £nll 13 14rt galn•lllo•M•) OA Inv••l Unr••trlctqd ihw••trlcl•d 2024 7C.275 388,856 14 TaYAtlon Th• thorfty Is 811tIrn tax In¢>ynè and gahB fqling 1n 8Ktknn 505 of Taxe8d or sect 252 ofthg Taxalon ol ¢haru•¥blB Gains*A 1992 to the extentllwt th•50 are appllod to118 (hrftable vbJ•Gts. 15-
STRATFIELD SAYE PRESERVATION TRUST NOTE8 TO THE FINANCIAL STATEMEKfs ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 TgIbl• rd I•15 Fr••old H•rfbq• At1 JaN•ry2Q4 26A(X) 357272 779.026 1.161.798 At 31 DeL¥rTl>or2024 245CKI 357272 rn1, 1.161.798 D•pr•d•tlon •nd knpth•nt At f January 2024 cJwg•d kn th• 322,997 322.997 At 31 D1Tr2 330,839 330.839 CiThylng amown¢ 25,500 26h33 779.tr28 830,969 At 31 DgcwTw 2023 25.51x1 34,275 779.026 838O01 £189.844. 11 FS*id M#•t In¥•thnts Ca•h In lThv••tm•nl• pjrtlollo Colt arv1¥ At 1 Jww8ry 2024 A¢klltlonsl(D16pJ8wIB) 091288 20&,8txJ (274.993) 274,993 705,804 671 37261 A621 1280.OCO) s[).080 7.275 37281 122.462) I280.0> Dthdgnd inc¥y Pkn8g•m8ntfoè At31 D•C¥)Ir2tt4 4521,899 219263 5.741.163 At 31 DerbeT24)24 5.521.899 219,283 6.741.163 At 31 DK•mbw2Wa3 5.(91288 208AOO SXI.¢)89 Nolol Inv8thients In 16.
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMEKfs ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Sknck* 2024 2•23 Fknlth•d gocqlo 8nd resd• 11 D•btorn Ampurts f•Hlry du• y•w. 14.124 3.023 40.682 18,727 57. 48249 19 L••n• and 2024 700,C ao Cr•dhm: •mwnl• IIng kn vthhln on• y•v 700.000 Othw tsxatlon •oclol 4•oJlty Trade mdlior8 39,433 699 18113 TJ9,547 773,936 17-
STRATFIELD SAYE PRESERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 R•l•t•d p•ty •y4nH#d•n Th• has a £700.QIY) loan a fwrlty fntstvthkh hao be foro4v20 yaws rnp•yablo on Th•r• alw me tranaackn oth•r thIeF a171th1th thg InwieB9 la a tru•t•o ry 8 dtrect¢r. N•t (fty ¢•sts and wa9•sI m•de from tha Straif Saye Eslat• to the trust totamed £90,17212023: £164,282). Al the >parend £3,88412023: £1.9991 by th• tru8t of£20,740 (2023.. En w8r• madè fr(m ts tru# Ip Str#ffl•ld Fm At the yew •ThJ netof£916I2. £2221 wa8 tho tru81. Nat af £4.180 P023: £4,870) w•ro mad• from Wolllrtth County pa Lnd > th• u8t At th•
wr•rKI 4 n•tofqT20120ZJ: £1.4421 was ¢Awd bytho trurt Not thaYg68 Of£3O,e8 23. £37.944) woro charged by Iho trust to Wton EBtatss EducattoTr UmFt•d notof ciffjts wagg$. Al ts yw 8rwJ a n•t of£1,089 {2tr23: £744) rhv•d loth• INst N•1 rgchorgeB of £1.198 {aYZJ: £81) rnado fr(Yn th8 trust l) w11 Rldkng. At Ihe yaar end • not of 112023: £nlll T$ th• bit Net recharyeB of £l,IXIS 12trfJ: £nlll were made frthn the trwt kn Tho on •. At the erkl o net ol £1.OOS {2023.' £nlD ¥A6 0d to lh• IML Not rodwg08 of£2.311 (2023.. £nll) w•r• mla fr(n Wolknokn F•m Shop tnLAt tho year a rnt of£B89 {2W23: £nll was bythe InL Not retharw crf £6,663 {2023.. £nll) ww• mad• from Dwro k11 $otdgrrt to tho At th• yw •rKI i Yt of £nll (2023: £nll) I¥llB md by lh• Nel of £200 (2m: £nll tm m•d• Irtmn Th• Dukes Settkd Estate to tr trugL At tl yewr •rnl a net of £nll12023.. £nlll W&B by Ngt rothaTgos of U.600 (2023: £nll) m•d• trwt lo H Th• Oukg ol At th• yèw •nd 8 not of£nl12023'. £nlll w•8 ow•d lo trb• trujl. 22 8ub•ldl•rf Tho8• flngnd•l 8t•tsm•nl•w• trubt tru flnAndg1 Btat•m•nl¥ for Slrtffl•ld Prw¢pAllon TN ofthe truNttNsf$ sdrfOfy 4131 DK6ner 2W •r• 91 fola. N•DW ¢1 yrthrt•k R•glthr•d N•kn• ol
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Stralll8lJ Say• Pr•8•Nalon The Esiale Umrtad Tradww Ordin•ry 100. Hampthkn, RG7 -18-