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2020-12-31-accounts

Page
Reference and administrative details ofthe foundation, its trustees and advisers 1-2
Chairman's statement 3-7
Trustees'
report		 8-15
Independent auditors'
report		 on the financial statements 16-19
Consolidated statement
offinancial activities		 20
Consolidated balance sheet 21-22
Foundation balance sheet 23-24
Consolidated statement
ofcash flows
Notes to the financial statements 26- 52

M G0 Bridgeman* M G0 Bridgeman*
Trustees N D TCrawley (appointed 16June 2020)
SL Graham
AW0 Kenyon'
C W Moyle
C Kenyon-Slaney, Chair of Trustees
*Member of the Audit Committee
Company registered
number 02076097
Charity registered
number 518325
Registered office Weston Park
Weston-under-Lizard
Shifnal
Shropshire
TF118LE
Company secretary J RGregory
Chief Executive Officer C P Sweeney
Key Senior Positions C P Sweeney, Chief Executive Officer
G Williams,
Curator
T O' Hara, Finance Officer
Independent auditors WR Partners
Chartered
Accountants
Belmont House
Shrewsbury
Business Park
Shrewsbury
Shropshire
SY26LG

REFERENCE AND REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,		 ITSTRUSTEES AND ADVISERS
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Bankers Handelsbanken
Shrewsbury
Business Park
Anchorage
Avenue
Shrewsbury
SY26FG
Solicitors Farrer3 Co
66 Lincoln's
Inn Field
London
WC2A 3LH
Investment Advisors Ruffer LLP
80Victoria Street
London
SW1E5JL
CCIA
Senator House
85Queen Victoria Street
London
EC4V4ET
Land Agents Balfours LLP
Chartered
Surveyors
New Windsor House
Oxon Business Park
Bicton Heath
Shrewsbury
SY35HJ

Endowment Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
Note 6 6 6 5
Income and endowments from:
Charitable
activities		 4 514,859 514,859 266,289
Other trading
activities		 5 625,274 625,274 1,013,470
Investments 6 177961 222,557 400,518 380,402
Otherincome 8 320,272 320,272 5,709
Total income and endowments 177,961 1,682,962 1,860,923 1,665,870
Expenditure
on:
Raising funds 9,10 971,242 971,242 874,580
Charitable
activities		 1,055,557 1,055,557 1,206,559
Total expenditure 2,026,799 2,026,799 2,081,339
Net gains on investments 507,473 40,678 548,151 621,831
Net incomel(expenditure) 685,434 (303,159) 382,275 405,362
Transfers
between funds		 22 (676,567) 676,567
Net movement
in funds		 8,867 373,408 382,275 406,352
Reconciliation
offunds:
Total funds brought
forward		 22 16,557,900 758,066 17,315,966 15,909,604
Net movement
in funds		 8,867 373,408 382,275 405,362
Total funds carried forward 16,566,767 1,131,474 17,698,241 17,315,955

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2020
2020 2019
Note 6 6
Fixed assets
Tangible assets 15 237,429 201,644
Heritage assets 16 8,377,942 6,377,942
Investments 17 8,696,954 8,574,596
17,312,325 17,254,184
Current assets
Stocks 18 24,026 17,711
Debtors 19 148,219 291,903
Cash at bank and in hand 874,817 426,072
1,047,061 735,686
Creditors: amounts falling due within one
year 20 (641,984) (636,226)
Net current assets 405,077 97,460
Total assets less current liabilities 17,717,402 17,351,644
Creditors: amounts falling due after more
than one year 21 t19,161) (35,678)
Net assets 17,698,241 17,315,966
Total net assets 17,698,241 17,315,966

2020 2019
Note 6
Fixed assets
Tangible assets 15 69,247 84,115
Heritage assets 16 8,377,942 8,377,942
Investments 17 8,776,954 8,754,598
17,224,143 17,218,855
Current assets
Stocks 18 3,493 3,284
Debtors 19 37,900 107,859
Cash at bank and in hand 723,137 23,380
764,530 134,303
Creditors: amounts falling due within one
year 20 (402,296) (387,382)
Net current assets Iliabilities 362,234 (233,079)
Total assets less current liabilities 17,586,377 fS,983,57S
Creditors: amounts falling due after more
than one year 21 (19,161) (35,S78)
Net assets 17,567,216 fS,947,898
Total net assets 17,567,216 f6,947,898

2020 2019
Note E 9
Charity funds
Endowment funds 22 16,566,767 16,557,900
Restricted funds 22
Unrestricted funds 22 1,000,449 eegywe
Total funds 17,567,216 16,947,898

2020 2019
8 6
Cash flows from operating activities
Net cash used
in operating		 activities 580,485 556,099
Cash flows from investing activities
Proceeds from the sale oftangible fixed assets 1,500
Purchase oftangible
fixed assets		 (109,384) (98,935)
Movement
on fixed asset investments		 (22,356) (692,975)
Net cash used in investing activities (131,740) (790,410)
Change
in cash and cash		 equivalents
in		 the year 448,745 (234,311)
Cash and cash equivalents at the beginning ofthe year 426,072 660,363
Cash and cash equivalents at the end of the year 874,817 426,072
The notes on pages 26to 52 form part ofthese financial statements

Unrestricted Total Total
funds funds funds
2020
6		 2020
6		 2019f
Education
and		 Public 147,167 147,167 194,326
Grant income 352,006 352,006 46,031
Livestock &produce 3,275 3,275 4,741
Timber sales 7,194
Commissions receivable 12,357 12,357 13,943
Curatorial
income		 54 54 54
Total 2020 514,859 514,859 266,289
Total 2019 266,289 266,289

Unrestricted Total Total
funds funds funds
2020f 2020
6		 2019f
Trading income 625,274 625,274 1,013,470
Total 2020 625,274 625,274 1,013,470
Total 2019 1,013,470 1,013,470

Endowment Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
6 6 6
Rents receivable 210,737 210,737 189,771
Income from listed fixed asset investments 177,961 11,576 189,539 189,959
Bank interest receivable 242 242 872
Tots I2020 177,961 222,557 400,518 380,402
Total 2019 178,928 201,474 380,402

Trust for Unapplied Total Total
Investment Total Return funds funds
2019
Gift component ofthe permanent endowment 2,250,000 2,250,000 2250,000
Unapplied total return 3,894,555 3,894,555 3,426,996
Investment return: dividends and interest 131,564 131,564 133,535
Investment return: realised and unrealised
gains 395,904 395,904 561,102
Investment management costs (49,228)
Unapplied total return allocated to income in
the reporting period (517,047) (517,047) (177,849)
Total 2,250,000 3,904,976 6,154,976 6,144,556

Unrestricted Total Total
funds funds funds
2020
6		 2020
6		 2019f
Covid-1 9income 311,637 311,637
Other income 8,635 8,635 5,709
Total 2020 320,272 320,272 5,709
Total 2019 5,709 5,709

Unrestricted Total Total
funds funds funds
2020 2020 2019
8
Trading expenses 279,406 278,406 367,565
Wages and salaries 550,908 550,908 332,655
National insurance costs 46,237 46,237 28,990
Pension costs 37,130 37,130 18,777
Depreciation 57,561 57,561 57,892
Total2020 971,242 971,242 805,879
Total 2019 805,879 805,879

Endowment Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
5 5 E 6
Investment management fees 68,801
Total 2020 68,801
Total 2019 64,974 3,827 68,801

Activities
undertaken Total Total
directly funds funds
2020
5		 2020
E		 2019f
Preservation ofProperty 1,055,557 1,055,557 1,206,659
Total 2020 1,055,557 1,055,557 1,206,659
Total2019 1,206,659 1,206,659

Total Total
Unrestricted funds funds
2020f 2020
E		 2019
Staff costs 370,869 370,869 425,082
Depreciation 14,869 14,869 13,198
Purchases
&		 Consumables 39,188 39,188 82,096
Insurance 90,544 90,544 87,050
Repairs
& Maintenance		 183,864 183,864 251,078
Printing,
postage &stationery		 3,326 3,326 238
Motor Costs 229 229 1,042
Professional Fees 59,360 59,360 72,762
Sundry Expenses 106,991 106,991 91,814
Property Costs 119,790 119,790 35,562
Bank charges 5,408 6,408 5,542
Land agent fees 35,519 35,519 105,782
Other accounting services 11,502 11,502 14,000
Governance costs 13,098 13,098 21,403
Total 2020 1,055,557 1,055,557 1,206,659
Total 2019 1,206,659 1,206,659
12. Auditors'
remuneration
2020 2019
6 L'
Fees payable to the Group's auditor forthe audit ofthe Group's annual
accounts 14,305 15,305
Fees payable to the Group's auditor in respect of:
All non-audit services not included above 2,095 1,095

Staff co sta
Group Group Foundation Foundation
2020 2019 2020 2019
5 5 5 5
Wages and salaries 883,960 720,717 357,772 388,052
Social security costs 70,260 54,839 24,023 25,849
Contribution to defined contribution pension
schemes 50,824 29,948 25,991 11,171
1,005,144 805,504 407,786 425,082
The average number of persons employed by the Foundation during the year was as follows:
Group Group
2020 2019
No. No.
Charity 7 13
Trading subsidiary 41 25
48 38
Group Group
2020 2019
No. No.

Plant and Motor Fixtures and Office
machineryf vehicles
f		 fittings equipment
5		 Total
f.
Cost orvaluation
At 1 January 2020 1,208,446 42,100 207,549 137,240 1,595,335
Additions 109,384 109,384
Disposals (4,078) (4,078)
At 31 December 2020 1,313,752 42,100 207,549 137,240 1,700,641
Depreciation
At 1 January 2020 1,032,429 28,800 195,122 137,240 1,393,691
Charge for the year 57,923 6,589 7,907 72429
On disposals (2,908) (2,908)
At 31 December 2020 1,087,444 35,499 203,029 137,240 1,463,212
Net book value
At 31 December 2020 228,308 6,601 4,520 237,429
At31December 2019 17S,017 f3,200 12,427 201,544

Plant and Office
machinery equipment Total
F 5 5
Cost or valuation
At 1 January 2020 465,571 137,240 602,811
At 31 December 2020 465,571 137,240 602,811
Depreciation
At 1 January 2020 381,456 137,240 518,686
Charge for the year 14,868 14,868
At 31 December 2020 386,324 137,240 533,564
Net book value
At 31 December 2020 68,247 69,247
At 31December 2019 84,115 84,115

Listed Cashheldin
securities investments Total
Group 6 6 6
Cost or valuation
At 1 January 2020 8,613,389 61,209 8,674,598
Additions 291,477 291,477
Disposals (840,105) (61,209) (901,314)
Revaluations 555,237 555,237
Transfers
in		 2,988,192 2,988,182
Transfers
out		 (2,911,236) (2,911,236)
At 31 December 2020 8,696,954 8,696,954
Net book value
At 31 December 2020 8,896,954 8,696,954
At 31December 2019 8,613,389 61,209 8,674,598

Investments
in
subsidiary Listed Cash held in
Foundation companies 6 securities
6		 Investments Total
6
Cost or valuation
At 1 January 2020 80,000 8,613,389 61,208 8,754,598
Additions 291,477 291,477
Disposals (840,105) (61,208) (901,314)
Revaluations 555,237 555,237
Transfers
in		 2,988,192 2,988,192
Transfer out (2,911,236) (2,911,236)
At 31 December 2020 80,000 8,696,954 8,776,954
Net book value
At 31 December 2020 80,000 8,686,854 8,776,854
At 31December 2019 80,000 8,613,389 61,209 8,754,598

The following were subsidiary
under		 taki ngs ofthe Foundati on :
Names Company Holding Included in
number consolidation
Weston Park Enterprises 01970692 100% Yes
The financial results ofthe subsidiaries for the year were:
Names Income Expenditure Profit/(Loss) Net assets
6 1Surplus/ 6
(Deficit) for
the year
6
Weston Park Enterprises 876,153 932,103 (55,950) 211,025
The balance off80,000 investment in subsidiary companies represents the 100%holding in Weston Park
Enterprises Limited.

Group Group Foundation Foundation
2020
6		 2019
f		 2020 2019
6
Raw materials 24,025 17,711 3,493 3,264

Group Group Foundation Foundation
2020
E		 2019
E		 2020
E		 2019f
Due within one year
Trade debtors 22,864 244,146 4,914 68,795
Amounts
owed		 by group undertakings 3,413
Other debtors 45,332 36,017 20,945 35,451
Prepayments
and accrued income		 80,023 11,740 12,041
148,219 291,903 37,900 107,659
Creditors: Amounts falling due within one year
Group Group Foundation Foundation
2020 2019 2020 2019
E E F E
Payments
received on account		 229,475 120,872
Trade creditors 196,787 172,258 63,824 95,935
Amounts
owed		 to group undertakings 170,263 85,524
Other taxation and social security 17,382 45,980
Obligations
under finance lease and hire
purchase
contracts		 17,153 16,198 17,153 16,198
Other creditors 1,095 25,919
Accruals and deferred income 180,092 255,999 151,056 169,725
641,984 638,226 402,296 367,382
Creditors: Amounts falling due after more than one year
Group Gmup Foundation Foundation
2020 2019 2020 2019
E E
Net obligations under finance lease and hire
purchase contracts 18,161 35,678 19,161 35,678

Statement o ffun ds - current yea r
Balance at
Balance at 1 31
January Transfers Gains/ December
2020 Income Expenditure in/out (Losses) 2020
5 E 6 E 6 5
Designated
funds
Lady Anne Fund
-Ongoing
maintenance of
Memorial
Gardens 9,325 (9,325)
Lady Anne Fund
- Ongoing
maintenance of
Memorial
Gardens 144,072 (7,284) 136,788
Arts Council 225,000 (68,355) 126,645
153,397 225,000 (114,964) 263,433
General funds
General Funds-
a8funds 110,028 1,446,627 (1,911,835) 715,333 360,154
Fund B-
unrestricted 494,640 11,335 (38,766) 40,678 507,887
604,669 1,457,962 (1,811,835) 676,567 40,678 868,041
Total
Unrestricted
funds 758,066 1,682,962 (2,026,799) 676,567 40,678 1,131,474

22. Statement offunds (continued)
Statement offunds - prior year
Balance at
Balance at 31
1January Transfers Gainer December
2019 Income Expenditure inrout (Losses) 2019
8 Z
Designated
funds
Designated
funds
Lady Anne Fund
- Creation and
restoration of
Memorial
Gardens 19,946 (10,621) 9,325
Lady Anne Fund
-Ongoing
maintenance of
Memorial
Gardens 150,060 (5,988) 144,072
170,006 (16,609) 153,397
General funds
General Funds-
all funds 380,033 1,475,911 (1,995,929) 250,014 110,029
Fund B-
unrestricted 450,567 11,031 (3,827) (14,108) 50,977 494,S40
830,600 1,486,942 (1,999,756) 235,906 50,977 604,689
Total
Unrestricted
funds 1,000,606 1,486,942 (2,016,365) 235,906 50,977 758,066

Statement offun ds - prior year (continued)
Balance at
Balance at 31
1January Transfers Gains' December
2019 Income Expenditure in/outf (Losses) 2019
Endowment
funds
Endowment
Fund A 3,394,706 80,054 (29,549) (106,255) 315,303 3,654,259
Endowment
Fund C 2282,291 53,481 (19,679) (71,594) 245,TQT 2,490,296
Endowment
Fund B 1,854,059 45,393 (15,746) (58,057) 209,754 2,035,403
Heritage Assets 8,377,942 8,377,942
15,908,998 178,928 (64,974) (235,906) T70,854 16,557,900
Total offunds 16,909,604 1,665,870 (2,081,339) 821,831 17,315,966
Analysis of net assets between funds - current period
Endowment Unrestricted Total
funds funds funds
2020
E		 2020
E		 2020f
Tangible fixed assets 237,429 237,429
Fixed asset investments 8,188,825 508,129 8,696,964
Heritage assets 8,377,942 8,377,942
Current assets 1,047,061 1,047,061
Creditors due within one year (641,964) (641,984)
Creditors due in more than one year (19,161) (19,161)
Total 16,566,767 1,131,474 17,698,241

Analysis of net asse ts between funds - prior period
Endowment Unrestricted Total
funds funds funds
2019 2019 2019
5 5
Tangible fixed assets 201,644 201,644
Fixed asset investments 8,179,958 494,640 8,674,598
Heritage assets 8,377,942 8,377,942
Current assets 735,686 735,686
Creditors due within one year (638,226) (538,225)
Creditors due in more than one year (35,678) (35,678)
Total 16,557,900 758,066 17,315,966
24. Reconciliation
ofnet movement		 in funds to net cash flow from operating activities
Group Group
2020 2019
5 5
Net income for the period (as per Statement ofFinancial Activities) 382,275 406,362
Adjustments
for:
Depreciation
charges		 72,428 75,799
Loss/(profit)
on the sale offixed assets		 1,170 (1,500)
Decrease/(increase) in stocks (6,314) 2,850
Decrease
in debtors		 150,160 14,743
Increase/(decrease) in creditors (19,235) 56,845
Net cash provided by operating activities 580,485 555,099