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← The Fitzwilliam Wentworth Amenity Trust

2025-03-31-accounts

THE FITZWILLIAM WENTWORTH AMENITY TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Charity number 508777

THE FITZWILLIAM WENTWORTH AMENITY TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

The Fitzwilliam Wentworth Amenity Trust is a registered charity under the Charities Act 2011.

The Trustees present their annual report and financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, 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 published in October 2019.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity number: 508777

Principal office Estate Office 27 Clayfields Lane Wentworth Rotherham S62 7TD

Trustees

The Trustees serving throughout the year and since the year end were as follows: -

Sir Philip Naylor-Leyland Bt. Lady Isabella Naylor-Leyland Mr Jeremy Archdale Richard Lumley, Earl of Scarbrough. The Honourable Ralph Foljambe

Management Committee

Sir Philip Naylor-Leyland Bt. Mr Alexander Davies-Terry (Steward) Mr James Behrens (Chief Executive to the Fitzwilliam Estates)

Auditors Armstrong Watson Audit Limited One Strawberry Lane Newcastle NEI 4BX Principal Bankers Barclays Bank ple 2 St James Court Whitefriars Norwich NR3 1RJ

Investment Managers Stanhope Capital LLP 35 Portman Square London W1H 6LR

Solicitors Currey & Co. 33 Queen Anne Street London W1G 9HY

Wrigleys Solicitors 3" Floor 3 Wellington Place Leeds LS1 4AP

1

THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable trust was established by a Declaration of Trust made by the tenth Earl Fitzwilliam dated 18 May 1979. By a deed of gift dated 23 May 1979 he granted to the Fitzwilliam Wentworth Amenity Trust certain land together with buildings erected thereon situated in the townships ofWentworth, Brampton Bierlow, Greasbrough, Hoyland Nether and Kimberworth, all in the County of South Yorkshire and more particularly delineated in plans attached to the aforesaid deed of gift.

Nature of constitution

The trust operates as an unincorporated charitable organisation.

Recruitment and Appointment of Trustees

The number of Trustees shall not normally be less than three nor more than seven. One of the Trustees must be someone other than a member of the settlor’s family. One Trustee should be resident in or within ten miles of the parish.

In appointing the Trustees, consideration is given to the desirability and possibility of drawing one or more of the Trustees from the professions of agriculturalist, archaeologist, land agent, surveyor, architect, solicitor, or accountant.

Induction and training of Trustees

Before appointment, Trustees are provided with a comprehensive introduction to the charity’s assets, its governance and management. They are also provided with a copy of the Charity Commission guidance note CC3 — ‘The Essential Trustee, what you need to know’ and CC3a — Charity Trustee, what’s involved. The Trustees are kept informed of key changes in charity law by the Steward and professional advisers.

Organisational structure

In accordance with the Governing Deed, the Trustees have formed a Management Committee (detailed on page 1) to administer the charity. Minutes of Management Committee meetings are circulated to all Trustees and the committee reports formally to the Trustees at an annual meeting.

The routine or daily administration of the charity is carried out by the Steward based at the Estate Office, Wentworth, Rotherham, where the bookkeeping is also undertaken.

Financial investments are managed by professional investment advisors, Stanhope Capital who report quarterly to the Steward.

The Trustees consider that they are the only key management personnel of the charity. The Trustees give of their time freely and no remuneration or expenses were paid during the year.

Related parties

The charity is a member of the Fitzwilliam (Wentworth) Estates Syndicate which shares the cost of management of the adjoining Wentworth Estates in South Yorkshire on an equitable basis between its four members.

The other property owners participating in the syndicate are:

Milton (Peterborough) Estates Company Sir Philip Naylor-Leyland Bt. Olive, Countess Fitzwilliam’s Will Trust

The total estate management costs borne by the Syndicate (net of a deduction relating to property sales, calculated at 0.75% of gross sale values) are apportioned in the ratio of gross income receivable by the respective owners.

The same Trustees also administer the Wentworth Barrow Almshouses, a separate charity owning eight units providing residential accommodation specifically for the elderly.

Sir Philip and Lady Isabella Naylor-Leyland are Trustees of the Earl Fitzwilliam Charitable Trust. Fitzwilliam Wentworth Amenity Trust pays a rent to Earl Fitzwilliam Charitable Trust.

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

$$ : R$

Principal Risks and Uncertainties

The Trustees have considered the principal risks and uncertainties which the charity faces and are satisfied that systems are established to address those risks. The funding of the charity is stable and gradually improving. The main source of income is from the letting of residential property. Trustees maintain dwellings to a high standard, protecting heritage value whilst ensuring they remain attractive to a buoyant rental market. Some diversity of income is achieved with the letting of agricultural and commercial property. Continual investment in the maintenance of heritage and landscape protects the reputation and popularity of the charity’s assets. The outgoings of the charity are managed to protect its financial integrity and levels of expenditure can be adjusted and reserves (investments) can be called upon if circumstances require it. Insurance cover is carefully considered and placed to ensure the charity is not at undue risk in the event of unforeseen circumstances arising.

Financial investment values increased over the year under report and post year-end there have been substantial fluctuations. These fluctuations seem unlikely to impair the ability of the charity to continue its primary role of making grants for charitable purposes, principally to other charitable entities.

The Trustees do not consider there to be any significant impact on the going concern of the Charity as a result of the current macro-economic conditions.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

Objects of the charity

The charity was established with the express intention of promoting the permanent conservation of lands and buildings of beauty or historic interest, particularly buildings of architectural or other importance, and to improve the rural and visual character and the amenities of the Parish of Wentworth near Rotherham, South Yorkshire and areas adjacent thereto.

The Trustees may apply the income of the charity for a broad range of charitable purposes including but not restricted to:-

The Trustees have a desire to do the best for their beneficiaries.

The charity’s Trustee

s have considered the guidance on public benefit published by the Charity Commission and are of the view that their policies and activities are consistent with the requirements of section 17 of the Charities Act 2011.

Aims of the charity

The charity aims to:

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

a

The charities objects and aims are for the benefit of the public generally and more specifically the inhabitants of the Parish of Wentworth and the areas adjacent thereto.

Accordingly, the trust’s activities include the following recognised public benefits:

a) providing public access to historic buildings b) providing housing c) providing facilities for sport and recreation d) providing support for education e) conserving the environment f) preserving historic buildings and landscapes

The Trustees believe that their objects and these activities satisfy the public benefit requirement arising from the Charities Act 2011.

Strategies for achieving objectives

The charity’s strategies for achieving these aims include:

In view of the long-term nature of the trust assets and its charitable objects the Trustees apply these principal strategies on a continuing basis.

Significant activities

Heritage Property The letting, repair and improvement of the charity’s residential, commercial, agricultural and other property assets centred on Wentworth Village. Wentworth Fishery The operation of Greasbrough Dams (ornamental lakes) as a coarse fishery made available to the public via season ticket sales. The Monuments The seasonal opening of the Rockingham Monument and Hoober Stand to the public and The maintenance of these and other monuments including The Needle’s Eye and Doric Temple. Deer Park The maintenance of Wentworth Park including its resident herd of red deer. Grant making policy

Trustees shall as and when they think fit pay or apply income of the charity for charitable purposes for the benefit of the public generally and especially the inhabitants of the Parish of Wentworth and areas adjacent thereto.

Provision of grant will be conditional upon the funds being used for the stated purpose and within reasonable time limits (usually within six months of award).

Grants in response to specific written applications tend to be in the range of £100 to £5,000 towards charitable projects, which are in accordance with the objects of the charity, either in the village of Wentworth or its surrounding locality or which benefit those communities.

Charity related investment policy

The Trustees expect to retain ownership of the heritage assets in the long term and consider acquisition of additional heritage assets in the vicinity ofWentworth Village as and when properties are offered for sale. It is also seen as important to have a continual program of improving properties, generally between tenancies, to maintain a lettable stock of property in the long term and to achieve the charitable object of long-term conservation of the village for the benefit of inhabitants and visitors alike.

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities undertaken

The continuing maintenance of the village, its constituent properties and its landscape comprises the principal activity of the Trust. The letting of heritage property provides the principal source of income, and the Trustees are mindful of their general duty to secure levels of return consistent with the open market. As a result, rental income is maintained at levels adequate to cover the costs of normal running and maintenance as well as the improvement of various properties between tenancies. Careful selection and use of materials ensures that all works continue to preserve and enhance the visual quality and historical authenticity of heritage assets.

Charitable donations have been made towards a broad range of external projects as detailed in note 9.

Investment performance

A total return of -0.34% (2024: 16.21% increase) with regards the financial and property investments based on the asset value at the start of the year to £3.1m (2024: £3.6m). There was a negative change in the value of investment property.

The Trustees consider the investment performance was satisfactory in the current circumstances.

FINANCIAL REVIEW

Results

The results for the year are set out in the attached financial statements. The net movement in funds after accounting for both realised and unrealised gains on investments amounted to £24,162 (2024: £2,550,535). The retained funds at 31 March 2025 amount to £49,765,189 (2024: £49,741,028).

Reserves policy

The charity’s total reserves of £49,765,188 at year end included £46,047,536 in a Heritage Asset Fund, £3,585,269 in an Investment Fund and £132,384 in a General Fund. £39,538 of the General Fund represented the net book value of tangible fixed assets, leaving adverse free reserves.

In view of the nature of the charity’s assets, arising from the original endowment, the Trustees consider it prudent to retain a reserve in the unrestricted general fund of up to twice total annual expenditure to meet fluctuating liabilities. It is noted that the general fund reserves are presently below this level.

Please see accounting policy (ii) for further details of reserves.

Review of activities

Expenditure has exceeded Income resulting in a deficit of £187,322 (2024: £116,610 surplus). During the year the main source of income remained rent receivable which for 2025 was £1,969,231 (2024: £1,835,427).

There have been further marginal improvements in residential and commercial rental income.

Income from investments of quoted UK and Overseas Securities and cash deposit balances, for 2025 was £9,445 (2024: £9,578).

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

Expenditure on the repair and improvement of hetitage property increased to £1,815,494 (2024: £1,427,872),

Heritage Property - The Charity has continued with its program of property repairs and improvements. Works are carried out to high standards in accordance with the principles of conserving historic buildings. The Charity continues to manage let properties on normal commercial terms. Wentworth Fishery - Operation of the coarse fishery and maintenance of the associated dams continued with season ticket sales comparable to the previous season. The Monuments - Owing to Covid restrictions, Rockingham Mausoleum and Hoober Stand were not opened to the public. The Deer Park continues to be appreciated by members of the public who make extensive use of the public rights of way network. Woodland - The Charity continues to maintain areas of woodland and open spaces to a high standard. New woodland planting is underway at Shire Oaks. Destination Management - Visitor traffic to Wentworth Village and Wentworth Deer Park continues to grow. Following preparation of a joint Access & Parking Strategy with the Wentworth Woodhouse Preservation Trust, work is now underway on a joint Masterplan as a precursor to future planning applications for improved parking and visitor provisions at Town End and Granny Clarks. Donations - The Charity considered applications for grants and made a number of specific donations to a broad range of local projects as recorded in note 9 to the accounts.

FINANCIAL REVIEW

Investment policy

Investment policy is directed towards achieving the maximum overall return on the charity’s investment assets commensurate with an appropriate level of risk for a charitable trust investor. No special social or ethical constraints are placed on the investment manager’s choice of investments.

PLANS FOR FUTURE PERIODS

The Trustees propose to continue their efforts to conserve the land and buildings of the trust and the amenities of the locality for the benefit of inhabitants and the general public and to make further grants which are consistent with the charity’s stated objects. Costs of repair and improvement of heritage property is expected to remain the most significant financial commitment. Trustees will continue to support the aims and objectives of the Wentworth Woodhouse Preservation Trust and will work with key local stakeholders to manage the evolution of the Wentworth & Elsecar locality as a destination location. Alongside visitor centre facilities (parking and café etc) at Town End, Greasbrough, delivery of large-scale car parking will be taken through the design and planning process at Granny Clarks, Wentworth. Secondary draw-down facilities are being considered for Dog Kennel Pond.

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 MARCH 2025

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which givea true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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BY ORDER OF THE TRUSTEES
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Dated: 2-Tkkh Tanviory, 2026
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE FITZWILLIAM WENTWORTH AMENITY TRUST

YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Fitzwilliam Wentworth Amenity Trust for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

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~~qh O at~~ . Simon Turner (Jan 28, 2026 10:37:15 GMT) 28/01/2026

THE FITZWILLIAM WENTWORTH AMENITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2025

Unrestricted Funds Unrestricted Funds
Endowment Funds
Note General Heritage
Fund Assets
Investments		 TotalFunds Total
Funds
2025 2024
Income from: £ £ £ £ £
Investment income 2 22,918 - - 22,918 21,578
Charitable activities 3 - 2,074,972 - 2,074,972 1,971,988
Total income 22,918 2,074,972 - 2,097,890 1,993,566
Expenditure:
Costs ofraising funds: 4 - - 3,871 3,871 10,326
Charitable activities 5 13,947 2,256,846 - 2,270,792 1,854,630
Governance Costs: 6 10,550 10,550 12,000
Total expenditure: 24,497 2,256,846 3,871 2,285,213 1,876,956
NET (EXPENDITURE)/INCOMEAND
NETMOVEMENT
IN FUNDS
BEFORE GAINS AND LOSSES ON
INVESTMENTS (1,578) (181,874) (3,871) (187,322) 116,610
Transfersbetween funds 1,578 123,409 (124,987) - -
Net gain/(loss) onheritage assets 10 - 159,000 - 159,000 1,947,112
Realised gain/(loss) on investments 12 - - 4,693 4,693 (6,151)
Unrealised gain/(loss) on investments 12 - 47,791 47,791 506,414
NETMOVEMENT INFUNDS - 100,536 (76,374) 24,162 2,563,985
RECONCILIATION OF FUNDS 16
Total funds brought forward 132,383 45,947,001 3,661,643 49,741,027 47,190,492
Prior year adjustments - - - - -
Totalfundscarriedforward 132,383 46,047,537 3,585,269 49,765,189 49,741,027

All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities. The notes on pages 13 to 21 form part of these accounts See note 19 for prior year figures by fund.

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

BALANCE SHEET

AT 31 MARCH 2025

2025 2024
Note £ £ £ £
FIXED ASSETS
Heritage assets 10 46,205,000 46,046,000
Tangible fixed assets 11 39,538 52,289
Investments 12 3,585,269 3,597,415
49,829,807 49,695,704
CURRENT ASSETS
Debtors - due after one year 13 - -
- due within oneyear 13 224,680 130,485
Cash atbank and inhand 320,184 217,291
544,864 347,776
CURRENT LIABILITIES
Creditors - due within oneyear 14 (609,482) (302,453)
NETCURRENT (LIABILITIES)/ (64,618) 45,323
ASSETS
NETASSETS 49,765,189 49,741,027
UNRESTRICTED FUNDS
General Fund 16 132,383 132,383
Heritage AssetFund 16 46,047,537 45,947,001
InvestmentFund 16 3,585,269 3,661,643
TOTALFUNDS 49,765,189 49,741,027

The notes on pages 13 to 21 form part of these accounts,

Approved by the Trustees on:

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THE FITZWILLIAM WENTWORTH AMENITY TRUST

CASH FLOW

AT 31 MARCH 2025

RECONCILIATION OF NETMOVEMENTS INFUNDS 2025 2024
TONETCASHFLOWUSED IN OPERATINGACTIVITIES £ £
Netmovement in funds 24,162 2,563,985
Add depreciation 13,100 15,131
Deduct loss on disposal offixed assets - 6,151
Deduct dividends, interest andrents from investments (9,445) (9,578)
Deductgainonheritage assets (159,000) (1,947,112)
Deduct gains on investments (47,791) (506,414)
(Increase)/decrease in debtors (94,195) 48,499
Increase/(decrease) in creditors 307,029 (46,615)
Deduct prioryear adjustment - (13,450)
Net cash (used in)/generated from operating activities 33,861 110,597
Cashflowsfrom investing activities:
Purchase offixed assets (350) (17,039)
Sale offixed assets . -
Dividends, interest andrent from investments 9,445 9,578
Purchase ofinvestments - (59,937)
Proceeds from sale ofinvestments 59,937 58,472
Net cash provided by investing activities 69,032 (8,926)
Change in cash and cash equivalents in theyear 102,893 101,671
Cashand cash equivalents brought forward 217,291 115,620
Cash and cash equivalents carriedforward 320,184 217,291
Cash atbank 247,920 209,699
Cash heldby investment managers 72,264 7,592
Cashandcashequivalents 320,184 217,291

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  1. ACCOUNTING POLICIES

(i)

Basis of preparation and assessment of going concern

The financial statements have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Second Edition issued October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Trust constitutes a public benefit entity as defined by FRS 102.

Going concern

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant area of uncertainty that affects the carrying value of assets held by the Trust is the market value of the heritage assets and the level of rental income generated by them.

The financial position of the charity is affected by movements in asset values. Financial investment values increased over the year under report and post year-end there have been substantial fluctuations. These fluctuations seem unlikely to impair the ability of the charity to continue its primary role of making grants for charitable purposes, principally to other charitable entities.

This charity’s income is principally derived from letting a mixed property portfolio. As a result of the current macro-economic environment the charity is faced with some challenges to collecting all the rents which fall due to it. There is no indication, however, that the levels of default and rent rebates being offered, to enable local businesses to continue providing local amenities, will jeopardise the financial viability of the charity.

(ii) Fund accounting

All funds are available for use, at the discretion of the Trustees, in furtherance of the Trust’s charitable objectives.

The Trustees established an expendable endowment fund which initially consisted of the net assets of the Trust as at 23 May 2000, being the end of the 21-year accumulation period allowed by trust law from the date of creation of the trust. This endowment fund comprised a mix of financial investments and heritage property assets, the latter being at the heart of the objects of the charity. It was considered appropriate to further divide the endowment fund into two sub-funds with effect from 1 April 2005.

The funds are summarised below:

ENDOWMENT FUNDS

All endowment funds are expendable.

Heritage Property Fund

Comprises the value of the investment in heritage assets which are the focal point of the charity.

Investments Fund

Comprises the value of the financial investments being endowment capital and income accumulated prior to 23 May 2000. Gains and losses on investment assets are attributable to this fund.

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GENERAL FUNDS

Income derived from charitable activities together with the associated expenditure is allocated to the General Fund.

An inter-fund loan account is maintained to avoid the complexity of operating separate bank accounts for the separate funds. The Trustees keep under review the need to move assets between funds to settle this balance.

Expenditure on improvements to Trust property, being consistent with the charity’s specific objectives, is deducted from the general fund and added to the heritage property fund.

(iii) Income Income represents the total income receivable during the year comprising rents receivable together with income from Wentworth Fishery, the Deer Park, woodland, investment income and sundry other income.

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from investments is all derived from invested funds and represent the total income receivable from financial and property investments.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Rental income is recognised on an accruals basis in accordance with the terms of the lease.

(iv) Expenditure Expenditure is split between the three funds and then categorised as relating to the cost of raising funds, and charitable activities. Almost all expenditure is considered to be directly related to charitable activities.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and the remaining unfulfilled condition attaching to the grant is outside the control of the Trust.

(v) Governance costs Governance costs comprise all costs involving public accountability of the Trust and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

(vi) Debtors

Short term debtors are measured at transaction price, less any impairment.

(vii) Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

(viii)

Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

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(ix) Creditors

Short term creditors are measured at the transaction price.

(x) Investments and heritage assets

Investments are a form of basic financial instrument and are initially at their transaction value and subsequently measured at fair value as at the balance sheet date using the closing quoted market price. Investment properties and heritage assets have been valued by the Trustees at market value. Realised and unrealised gains and losses on investments are included in the Statement of Financial Activities.

(xi) Heritage assets Heritage assets represent land and buildings held in line with the objects of the Trust, predominantly agricultural, commercial and residential property within the geography of Wentworth. They are measured on a fair value basis in line with requirements of the SORP. The Trust incurs expenses ensuring their maintenance and upkeep annually. This cost is expensed in the SOFA.

(xii) Depreciation Fixed assets are stated at cost. Depreciation is calculated using the reducing balance method: Machinery and equipment 20%-33% per annum Motor vehicles 25% per annum Office Equipment 25% per annum

(xii) Significant judgments and estimates

The Charity prepares an annual valuation of its heritage assets and investment property by the Trustees. Movements in the valuation of the heritage assets and investment property are accounted for in the Statement of Financial Activities. There is significant judgement as to the indications of the valuation of the heritage assets and investment property.

The key judgement and estimate in these financial statements is determining the fair value of heritage assets (£44.1m, see note 10). This judgement and estimate is managed by the appointment of an expert in the business who has determined a fair value based on RICS principles. Different valuers may have made different judgements with key assumptions such as rental yields and rates per acre of agricultural land being indicators of where this could arise. However, management’s assessment has been based on supportable information driven by benchmarking against national land agents.

2. FINANCIAL INVESTMENT
INCOME Endowment Funds
General Heritage Investment Total
Fund Assets Fund 2025 2024
£ £ £ £ £
Interest receivable 6,618 - - 6,264 6,264
Dividends 2,827 - - 3,315 3,315
Rents receivable 13,473 - - 13,473 12,000
22,918 . . 22,918 21,578
3. INCOME FROMCHARITABLE EndowmentFunds Funds
ACTIVITIES General Heritage Investment Total
Fund Assets Fund 2025 2024
£ £ £ £ £
Rents receivable - 1,969,231 - 1,969,231 1,835,427
Fishing . 72,649 - 72,649 121,126
WentworthPark - 6,337 - 6,337 5,411
Woods andplantations - 15,000 - 15,000 2,160
Other income w 11,755 - 11,755 7,865
- 2,074,972 - 2,074,972 1,971,988

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |4.|COSTS|OF|RAISING|FUNDS| |Investment Management|Fee|-|-|2,786|2,786|2,173| |Property|repairs|-|-|1,084|1,084|8,153| |-|-|3,871|3,871|10,326| |5.|CHARITABLE|ACTIVITIES| |2025| |Estate|costs|-|1,907,069|-|1,907,069| |Fishing|-|202,938|-|202,938| |Wentworth|Park|.|78,295|:|78,295| |Woods|and plantations|-|68,543|.|68,543| |Grants|(note|9)|13,947|.|-|13,947| |Governance|10,550|-|.|10,550| |24,497|2,256,846|-|2,281,342| |2024| |Estate|costs|-|1,522,970|-|1,522,970| |Fishing|-|160,920|-|160,920| |Wentworth|Park|-|82,727|-|82,727| |Woods|and plantations|-|66,030|-|66,030| |Grants|(note|9)|21,983|-|-|21,983| |Governance|12,000|.|-|12,000| |33,983|1,832,647|-|1,866,630| |6.|GOVERNANCE|COSTS| |2025|2024| |£|£| |Auditors’|remuneration| |-|Audit|10,550|12,000| |-|Tax|-|-| |10,550|12,000| |7.|EMPLOYEES|AND| |REMUNERATION| |Salaries|and wages|80,305|75,527| |Social|security|7,421|6,631| |Pension|6,053|5,554| |93,779|87,712| |No|employee|was|paid more|than|£60,000.| |Number|Number| |Number of employees|5|5| |The|Trust|considers|its|Trustees|to|be|key|management|personnel.|The|Trustees|were|not|paid|or| |reimbursed|any|expenses|during|the|year|(2024:|£Nil).| |8.|NET|MOVEMENT|IN|FUNDS|2025|2024| |£|£| |Net movement|in|funds|is|stated|after|charging:| |13,100|15,131| |Auditors’|remuneration —|audit|fees|10,550|12,000| |— non|audit|fees|-|-|

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16

9. GRANTS

The Trust made 7 (2024: 9) grants totalling £13,947 (2024: £21,983) in the year. The grants made in the year are listed below:

listed below:
£
Christmas Trees 790
Countryside Learning 684
St James’ House 1,938
Wentworth Parish Council 3,695
Wentworth Woodhouse Preservation Trust 1,600
Wentworth Woodhouse Trading 2,500
Wentworth Residents Association 2,740
13,947
10. HERITAGEASSETS Property
£
At 1 April 2024 46,046,000
Additions -
Proceeds on disposals -
Net gains in the year 159,000
At31March2025 46,205,000

Heritage assets were valued at £46,205,000 on an open market basis as at 3] March 2025. This valuation was performed

by Alexander Davies-Terry, on behalf of the trustees.

Some heritage assets, such as monuments and bridges in leisure space on the estate have not been valued or held on the balance sheet. This is due to there being no clear market values or an ability to obtain this information without incurring an inefficient or disproportionate cost to the charity.

In the prior year, the Trustees acquired (£Nil) of Heritage Property and disposed of (£Nil) Heritage Property. There

have been no other acquisitions, receipts by donation, disposals, or impairments of heritage property since 2022.

11. TANGIBLE FIXED ASSETS Machinery Motor Office Total
and vehicles Equipment
equipment
£ £ £ £
COST
At 1 April 2024 171,203 100,583 500 272,286
Additions - - 350 350
Disposals (3,250) - - (3,250)
At 31 March 2025 167,953 100,583 850 269,386
DEPRECIATION
At 1 April2024 145,093 74,701 203 219,997
Charge for the year 6,497 6,471 133 13,100
Eliminated on disposal (3,250) (3,250)
At 31 March 2025 148,340 81,172 336 229,848
NET BOOKVALUE
At 31 March 2025 19,613 19,411 514 39,538
At31March2024 26,110 25,882 297 52,289

All assets are used for the charitable purposes of the Trust.

17

Property Property Quoted Total
12. INVESTMENTS £ £ £
At 1 April 2024 570,000 3,027,415 3,597,415
Additions - : .
Unrealised profit / (loss) in the year (45,000) 92,791 47,791
Proceeds ofdisposal - (64,630) (64,630)
Realised gain / (loss) in the year - 4,693 4,693
At 31 March 2025 525,000 3,060,269 3,585,269
Historic cost ofinvestments:
UK quoted £1,414,648
Investment Propertywas valued at£525,000 on anopenmarketbasis as at31 March 2025. This valuation
wasperformedbyMrAlexanderDavies-Terry, onbehalfofthe Trustees.
Quoted investments aremanagedbyan independent investment manager, Stanhope Capital. Over99% 99% of
quoted investments are invested in one equity fund. This is the only material investment.
13. DEBTORS 2025 2024
£ £
Due within one year:
Trade debtors 15,151 61,441
Other Debtors 145,490 64,444
Prepayments and accrued income 64,039 4,600
224,680 130,485
14. CREDITORS: AMOUNTS DUE WITHIN ONEYEAR
Trade creditors 222,333 156,424
Other creditors 6,666 6,666
Other tax and social security costs * €
Accruals and deferred income 138,457 59,987
Amounts due to relatedundertaking 242,026 79,376
609,482 302,453
15. DEFERREDINCOME

Deferred income comprises amounts received in advance for rent and fishing permits

£
At Ist April 2024 46,537
Amount released to income earned from charitable activities (46,537)
Amount deferred in year 50,946
At31stMarch2025 50,946

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|||||||||| |---|---|---|---|---|---|---|---|---| |16.|RECONCILIATION|OF|UNRESTRICTED|FUNDS|Unrestricted|Funds| |Endowment|Funds| |(see|note|1(ii)|for|explanation|of funds)|General|Heritage|Investment| |Fund|Assets|Fund| |£|£|£| |At|Ist|April|2024|132,383|45,947,001|3,661,643| |(Deficit)/surplus|for|the|year|(1,578)|(181,874)|(3,871)| |Realised|(loss)/gain|-|-|4,693| |Net Gain|on|Investment Funds|-|-|92,791| |Unrealised|(loss)/gain|-|159,000|(45,000)| |Transfers between|funds|1,578|123,409|(124,987)| |At|31st|March|2025|132,383|46,047,537|3,585,269| |RECONCILIATION|OF|UNRESTRICTED|FUNDS|Unrestricted|Funds| |Endowment|Funds| |(see|note|1(ii)|for|explanation|of funds)|General|Heritage|Investment| |Fund|Assets|Fund| |£|£|£| |At|Ist|April|2023|29,223|43,999,889|3,161,380| |Prior year adjustments|(13,450)| |(Deficit)/surplus|for|the|year|(33,983)|139,341|11,252| |Realised|(loss)/gain|-|-|(6,151)| |Net|Gain|on|Investment|Funds|-|-|496,414| |Unrealised|(loss)/gain|-|1,947,112|10,000| |Transfers between|funds|150,593|(139,341)|(11,252)| |At|31st March 2024|132,383|45,947,001|3,661,643| |17.|ANALYSIS|OF NET|ASSETS|Endowment|Funds| |BETWEEN FUNDS|General|Heritage|Investment| |Fund|Asset|Fund|Total| |£|£|£|£| |Heritage|assets|-|46,205,000|-|46,205,000| |Tangible|fixed|assets|39,538|.|-|39,538| |Investments|-|-|3,585,269|3,585,269| |Current|assets|544,864|-|-|544,864| |Current|liabilities|(609,482)|-|-|(609,482)| |Inter-fund|loan|157,463|(157,463)|-|-| |At|31st|March|2025|132,383|46,047,537|3,585,269|49,765,189| |ANALYSIS|OF|NET|ASSETS|Endowment|Funds| |BETWEEN FUNDS|General|Heritage|Investment| |Fund|Asset|Fund|Total| |£|£|£|£| |Heritage|assets|-|46,046,000|-|46,046,000| |Tangible|fixed|assets|52,289|-|-|52,289| |Investments|-|-|3,597,415|3,597,415| |Current|assets|347,776|.|-|347,776| |Current|liabilities|(302,453)|-|-|(302,453)| |Inter-fund|loan|34,771|(98,999)|64,228|.| |At|31st March|2024|132,383|45,947,001|3,661,643|49,741,027|

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19

  1. RELATED PARTY TRANSACTIONS

The Charity continued to hold the lease of land and buildings at Wentworth whereby the charity pays £230,000 (2024: £230,000) per annum rent to the Earl Fitzwilliam Charitable Trust. Sir Philip Naylor-Leyland Bt. and Lady Isabella Naylor-Leyland are Trustees of both the Earl Fitzwilliam Charitable Trust and the Fitzwilliam Wentworth Amenity Trust. At the year-end £57,500 (2024: £Nil) was owed to Earl Fitzwilliam Charitable Trust.

Sir Philip Naylor-Leyland is a founding Trustee. With the express approval of the Charity Commission the constitution of the Wentworth Woodhouse Preservation Trust includes a provision for the Trustees of the Fitzwilliam Wentworth Amenity Trust to nominate a Trustee of the Preservation Trust. The Trustees of this charity subsequently nominated Sir Philp Naylor-Leyland to fulfil this role. Expenditure in this charity on matters relating to the Wentworth Woodhouse Preservation Trust amounted to £Nil (2024: £Nil). At the year-end amounts due to Wentworth Woodhouse Preservation Trust amounted to £Nil (2024: £Nil).

The Wentworth Joint Estate is a partnership between Sir Philip Naylor-Leyland and Thomas Naylor-Leyland, £1,096 was overpaid to the joint estate and is owed by the Joint Estate at year end.

The Wentworth Charity, for which Sir Philip Naylor-Leyland is a Trustee, was overpaid £408 and is owed by The Wentworth Charity at year end.

Sir Philip Naylor-Leyland has invoiced expenses paid on behalf of his estate of £2786, The Charity has invoiced Sir Philip Naylor-Leyland’s estate £253. £2,533 is owed to Sir Philip Naylor-Leyland’s estate at year end.

Fitzwilliam Trust Corporation Ltd is a company representing other Fitzwilliam family members interests. The company was invoiced expenses of £2,206, the company invoiced expenses to the charity of £259. £636 is owed by Fitzwilliam Trust Corporation Ltd at year end.

20

  1. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES -

2024

Unrestricted Endowment Funds Endowment Funds
Funds
General Fund Heritage Assets Investments Total Funds
Note 2024
Income from: £ £ £ £
Investments 2 - . 21,578 21,578
Charitable activities 3 - 1,971,988 - 1,971,988
Total income - 1,971,988 21,578 1,993,566
Expenditure:
Costs ofraising funds: 4 - - 10,326 10,326
Charitable activities 5 21,983 1,832,647 - 1,854,630
Governance costs 6 12,000 . - 12,000
Total expenditure: 33,983 1,832,648 10,326 1,876,956
NET (EXPENDITURE)/INCOMEAND
NETMOVEMENT IN FUNDS
BEFORE GAINS AND LOSSES ON
INVESTMENTS (33,983) 139,341 11,252 116,610
Transfersbetween funds 150,593 (139,341) (11,252) -
Net gain/(loss) onheritage assets 10 - 1,947,112 - 1,947,112
Realisedgain oninvestments 12 - - (6,151) (6,151)
Unrealised (loss)/gain on investments 12 : 506,414 506,414
NETMOVEMENT INFUNDS 116,610 1,947,112 500,263 2,563,985
RECONCILIATION OF FUNDS 16
Total funds brought forward 15,773 42,254,771 3,255,896 47,177,042
Totalfundscarriedforward 132,383 45,947,001 3,661,643 49,741,027

21

FWAT signed accounts

Final Audit Report

2026-01-28

Created: 2026-01-27 By: Joshua Shevas (Joshua.Shevas@armstrongwatson.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAOw3BBuXWideiB_4vwW8WR07dUtz7PB0P

"FWAT signed accounts" History

2026-01-27 - 17:00:23 GMT- IP address: 85.118.19.249

Document emailed to Simon Turner (simon.turner@armstrongwatson.co.uk) for signature 2026-01-27 - 17:01:05 GMT

Agreement completed.

2026-01-28 - 10:37:15 GMT