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|CONTENTS|||Page|
|---|---|---|---|
|Comment<br>from the Chair||and Chief Executive|1-4|
|Report ofthe|Board ofTrustees||5-15|
|Report ofthe|Auditors||16-18|
|Consolidated|Statement|of Financial Activities|19|
|Consolidated|and Charity|Balance Sheets|20|
|Consolidated|Cash Flow|Statement|21-22|
|Notes to the|Accounts||23-41|
|Acknowledgements|||42|
|Corporate<br>Information|||43-44|





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|CONS<br>As at|OLIDATED<br>AND <br> 31January<br>2022|CHAR|ITY BALA|NCE SHE|ETS||||
|---|---|---|---|---|---|---|---|---|
|||||||2022||2021|
|Note|||||Group|Charity|Group|Charity|
||||||E'000|F'000|F'000|E'000|
||FIXEDASSETS||||||||
|7|Tangible assets||||6,345|6,065|6,086|5,726|
|8|Heritage assets||||3,448||3,448||
|9|Investments||||35,089|21,902|32,150|19,823|
||||||44,882|27,967|41,684|25,549|
||CURRENT ASSETS||||||||
|10|Stocks||||59|38|46|20|
|11a|Debtors falling due|after|more than|one year||94|||
|11b|Debtors falling due|within one year|||421|475|323|695|
|12|Cash at bank and|in hand|||1,555|1,163|2,067|2,038|
||||||2,035|1,770|2,436|2,753|
|13|CREDITORS: Amounts||falling due||||||
||within||one year||(543)|(414)|(371)|(360)|
||NET CURRENT ASSETS||||1,492|1,356|2,065|2,393|
||TOTAL ASSETS LESSCURRENT LIABILITIES||||46,374|29,323|43,749|27,942|
|14|CREDITORS: Amounts||falling due||||||
||after more than one|||year|(885)|(862)|(903)|(868)|
||NET ASSETS||||45,489|28,461|42,846|27„074|
|15|FUNDS||||||||
||Nene Park Trust||||||||
||Restricted<br>Funds||||3,957|509|3,994|546|
||Unrestricted<br>Funds||||||||
||General Funds||||2,315|1,994|1,538|1,603|
||Designated<br>Funds||||25,958|25,958|24,925|24,925|
||Endowment<br>Held|in Connection||with Nene|Park||||
||Permanent<br>Endowment||||13,259||12,389||
||||||45,489|28,461|42,846|27,074|





## 

## 

||||||Note|2022|2021|
|---|---|---|---|---|---|---|---|
|||||||Group|Group|
|||||||6000|E'000|
|Cash invested I(used) in|operating||activities||19|(1,045)|(1,301)|
|Cash flows from investing||activities||||||
|Investment<br>income||||||1,251|984|
|Purchase<br>of investments||||||(4,888)|(6,851)|
|Sale of investments||||||4,716|6,778|
|Purchase oftangible<br>fixed assets||||||(817)|(335)|
|Sale oftangible<br>fixed assets|||||||4|
|Cash provided<br>by investing||activities||||262|580|
|Cash flows from financing||activities||||||
|Loans|||||||20|
|Repayment<br>ofloans<br>Payment offinance lease|obligations|||||(1)<br>(5)|(352)<br>(1)|
|Cash provided<br>by financing||activities||||(6)|(333)|
|(Decrease) Iincrease<br>in cash and cash||||||(789)|(1,054)|
|equivalents<br>in the year||||||||
|Cash and cash equivalents|at the beginning|||ofthe||2,531|3,585|
|year||||||||
|TOTAL CASH AND CASH|EQUIVALENTS <br>'|||AT|A|1,742|2,531|
|THE END OF THE YEAR||||||||
|NOTE A: Analysis ofcash||||||2022|2021|
|||||||Group|Group|
|||||||E'000|f.'000|
|Cash at bank at 31 January||||||1,555|2,067|
|Cash at investment<br>managers||at 31 January||||187|464|
|||||||1,742|2,531|





## 

|Movements<br>in ca|sh and cash equivalents||||
|---|---|---|---|---|
||||2022||
|||At 1 Feb|Gashflow|At 31 Jan|
|||F'000|F'000|F'000|
|Cash at bank and|in hand|2,067|(512)|1,555|
|Cash at investment|managers|464|(277)|187|
|Net cash and cash|equivalents|2,531|(789)|1,742|



|Movements in cash and cash eguivalents||||
|---|---|---|---|
|Comparative<br>information:|At1Feb|2021<br>Cashflow|At 31Jan|
||8'000|E'000|E'000|
|Cash at bank and in hand|2,926|(859)|2,067|
|Cash atinvestment<br>managers|659|('/95)|464|
|Net cash and cash equivalents|3,585|(1,054)|2,531|





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|NALYSIS|OF GROUP EXP|ENDITURE|||||
|---|---|---|---|---|---|---|
|2022||Direct|Other|Depreciation|Supportand|Total|
|||costs—|direct||governance|2022|
|||Staff|costs||costs||
|||F.'000|F'000|F'000|E'000|E'000|
|Costs of raising funds|||||||
|Costs ofsales||57|147|||204|
|Investment|management||93|||93|
|costs|||||||
|Fundraising|costs|97|10||18|130|
|Charitable|||||||
|expenditure|||||||
|Park management||1,436|'1,234|538|825|4,033|
|||1,590|1,484|543|843|4,460|
|2021||Direct|Other|Depreciation|Support and|Total|
|||costs-|direct||governance|2021|
|||Stat'f|cos'ts||costs||
|||E'000|E'000|E'000|E'000|E'000|
|Costs ofraising funds|||||||
|Costs ofsales||23|52|||75|
|Investment|management||90|||90|
|costs|||||||
|Fundraising|costs|95|11||16|127|
|Charitable|||||||
|expenditure|||||||
|Park management||1,126|885|369|648|3,028|
|||1,244|1,038|374|664|3,320|



## 

|ANALYSIS OF|SUP|PORT AND GOVE|RNANCE COS|TS|||
|---|---|---|---|---|---|---|
|2022|||Sclaff|Other|Depreciation|Total|
||||costs|costs||2022|
||||. F'000|F'000|F'000|F'000|
|Support costs|||||||
|Office and administration|||59|28||102|
|Chief Executive|and|team|226|7||233|
|Business Services|||248|82||330|
|Other organisational||costs|5|135||140|
|Total support|costs||538|252|15|805|
|Governance costs||||25||38|
|Total support|&governance costs||551|277|15|843|





|2021||Staff|Other|Depreciation|Total|
|---|---|---|---|---|---|
|||costs|costs||2021|
|||8'000|8'000|E'000|8'000|
|Supportcosts||||||
|Office and administration||59|30|13|102|
|Chief Executive and|team|149|1||150|
|Business Services||213|48||261|
|Other organisational|costs|16|105||121|
|Total support costs||437|184|13|634|
|Governance costs||10|20||30|
|Total support 8 governance costs||447|204|13|664|



|||||2022|2021|
|---|---|---|---|---|---|
|||||No.|No.|
|Operations|team|||45|35|
|Development||team||11|11|
|Support services and fundraising|||team|14|15|
|||||70|61|
|The aggregate||payroll costs were|as follows:|||
|||||2022|2021|
|||||E'000|F'000|
|Wages and|salaries|||1,816|1,431|
|Social Security costs||||160|128|
|Pension costs||||165|132|
|||||2,141|1,691|
|Other staff|costs|||24|25|
|||||2,165|1,716|





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|and enjoyment<br>of|the publ|i|c<br>in ar|t by p|lacing,|maintain|ing<br>and pro|moting<br>the co|llection<br>in publ|ic places.|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||2022||2021||
||||||||Group<br>E'000|Charity<br>f'000|Group<br>f'000|Charity<br>6'000|
|INVESTMENTS|||||||||||
|Listed investments|||||||||||
|Market value at 1|February||||||32,150|19,758|33,047|20,512|
|Additions|||||||4,888|2,884|6,851|2,204|
|Disposals|||||||(4,716)|(2,778)|(6,778)|(2,295)|
|Net unrealised<br>investment|||gains|/ (losses)|||3,237|2,218|(628)|(597)|
|Net realised<br>investment<br>losses|||||||(193)|(90)|(147)|(101)|
|Movements<br>in cash held by investment|||||manager||(277)|(155)|(195)|35|
|Market value at 31 January|||||||35,089|21,837|32,150|19,758|
|Unlisted investments:|||||||||||
|65,000F1 shares|in trading||subsidiary||at cost|||65||65|
|Investments<br>at 31|January||||||35,089|21,902|32,150|19,823|
|Historical cost as|at 31 January||||||27,473|15,486|26,384|14,635|
|Analysis of listed|securities at|||31January||2022:|||||
||||||||Group||||
||||||||f.'000||||
|Fixed Interest securities|||||||2,413||||
|UK Equities|||||||17,540||||
|Global securities|||||||7,154||||
|Multi asset funds|||||||2,396||||
|Property|||||||1,629||||
|Other assets|||||||3,770||||
|Cash held by investment||manager|||||187||||
||||||||35,089||||





## 

## 

||||2022||2021|
|---|---|---|---|---|---|
|||Group|Charity|Group|Charity|
|||F'000|E'000|F'000|6'000|
|STOCKS||||||
|Goods for resale||21||26||
|Livestock||38|38|20|20|
|||59|38|46|20|
|DEBTORS||||||
|a)<br>Debtors falling due after more than one year||||||
|Owed by trading|subsidiary||56|||
||||56|||



## 

||b)<br>Debtors falling d|ue|within one year|||||
|---|---|---|---|---|---|---|---|
||Trade debtors|||217|217|97|97|
||Other debtors|||57|43|181|175|
||P repayments|||147|146|45|33|
||Owed by Endowment|Held in Connection||||||
||with Nene Park||||||3|
||Owed by PCLT<br>Owed by trading<br>subsidiary||||69||380<br>7|
|||||421|475|323|695|
|12|CASH AT BANK AND||IN HAND|||||
||Cash and short-term|deposits||1,555|1,163|2,067|2,038|
|13|CREDITORS: Amounts||falling due within one year|||||
||Hire purchase<br>creditor|||2||||
||Other creditors|||244|131|216|211|
||Other taxation and Social Security|||43|43|33|33|
||Accruals|||141|97|34|27|
||Deferred income|||109|109|88|88|
||Owed to trading<br>subsidiary||||34||6|
||Bounce back loan|||||||
|||||543|414|371|360|





## 


## 

|||||Balance at||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|---|
||a)<br>Movement<br>in Funds|||1 February|||Investment|||31January|
|||||2021|Income|Expenditure|Gains|I|Transfers|2022|
||||||||(Losses)||||
|||||R'000|R'000|R'000|R'000||R'000|K'000|
||Unincorporated<br>Charity||||||||||
||Permanent<br>Endowment|||12,389||(46)||916||13,259|
||PCLT Restricted Funds|||3,448||||||3,448|
||Charity||||||||||
||Restricted Revenue<br>Funds|||244|773|(718)|||(68)|231|
||Restricted<br>Capital Fund|||302|||||(24)|278|
||Total Restricted<br>Funds|||3,994|773|(718)|||(92)|3,957|
||Unrestricted<br>Funds||||||||||
||Designated<br>Funds||||||||||
||Tangible<br>Fixed Assets Fund||(iv)|5,831|||||277|6,108|
||Investment<br>Fund||(v)|17,180|||||(1,266)|15,914|
||Woodlands<br>Maintenance|Fund|(vi)|325||||||325|
||Park Works Fund||(vii)|1,514|||||2,017|3,531|
||Trust Infrastructure<br>Fund||(viii)|75|||||5|80|
||Total Designated<br>Funds|||24,925|||||1,033|25,958|
||General Funds||||||||||
|,|Nene Park Services Ltd<br>PCLT|||(41)<br>(24)|147<br>791|(204)<br>(348)||||(98)<br>419|
||General Funds|||1,603|2,948|(3,744)|2,|128|(941)|1,994|
||Total General<br>Funds|||1,538|3,886|(4,296)|2,|128|(941)|2,315|
||Total Funds|||42,846|4,659|(5,060)|3,044|||45,489|





## 

## 



## 

|2021|||Balance|at||||||Balance at||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Movement in Funds|||1February|||||Investment||31January||
||||2020||Income|Expenditure||Gains|Transfers|2021||
||||E'000||E'000|E'000||E'000|8'000|8'000||
|Unincorporated<br>Charity||||||||||||
|Permanent<br>Endowment|||12,515|||(49)||(77)||12,389||
|PCLTRestricted Funds|||||3,448|||||3,448||
|Charity||||||||||||
|Restricted Revenue Funds||||271|527|(428)|||(126)|244||
|Restricted Caoital Fund||||234|||||68|302||
|Total Restricted Funds||||505|3,975|(428)|.|(77)|(58)|3,994||
|Unrestricted<br>Funds||||||||||||
|Designated<br>Funds||||||||||||
|Tangible Fixed Assets Fund||(iv)|5,550||||||281|5,831||
|Investment<br>Fund||(v)|18,276||||||(1,096)|17,180||
|Woodlands<br>Maintenance|Fund|(vi)||325||||||325||
|Park Works Fund||(vii)|1,347||||||167|1,514|'|
|Trust Infrastructure<br>Fund||(viii)||55|||||20|75||
|Total Designated<br>Funds|||25,|553|||||(628)|24,925||
|General Funds||||||||||||
|Nene Park Services Ltd|||(22)||56|(75)||||(41)||
|PCLT|||||11|(35)||||(24)||
|General Funds|||2,|103|2,245|(2,733)||(698)|686|1,603||
|Total General Funds|||2,|081|2,312|(2,843)||(698)|686|1,538||
|Total Funds|||40,|654|6,287|(3,320)||(775)||42,846||





## 

## 

|Analysis ofass|ets|betw|een<br>Funds:||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Net||||||
||||Tangible||current||After more|Intra fund|||
|2022|||Fixed|investments|Assets||Than 1 year|balances||Total|
||||Assets||||||||
||||f.'000|E'000|R'000||E'000|R'000||f."000|
|Permanent<br>Endowment||||13,252|||||7|13,259|
|Charity|||||||||||
|Restricted<br>Funds|||||280||||(9)|509|
|Unrestricted<br>Funds|||5,827|21,837|947||(862)|137||27,886|
|PCLT Restricted<br>Funds|||3,448|||||||3,448|
|PCLT Unrestricted|Funds||280||170||(8)|(23)||419|
|Nene Park Services||||||95|(15)|(112)||(32)|
|Total Funds|||' 9,793|35,089|1,492||(885)|||45,489|
||||||Net||Creditors||||
||||Tangible||current||after more|Intra fund|||
|2021|||Fixed|Investments|Assets||Than 1year|Balances||Total|
||||Assets|E'000|F'000||8'000|8'000||E'000|
||||E'000||||||||
|Permanent<br>Endowment||||12,392|||||(3)|12,389|
|Charity|||||||||||
|Restricted Funds|||255|||346|||(55)|546|
|Unrestricted<br>Funds|||5,472|19,758|1,656||(868)|.|445|26,463|
|PCLTRestricted|Funds||3,448|||||||3,448|
|PCLT Unrestricted||Funds|359|||13|(15)|(38'I)||(24)|
|Nene Park Services||||||50|(20)||(6) .|24|
|Total Funds|||9,534|32,'I50|2,065||(903)|||42,846|



## 

## 

## 

## 



## 

## 

## 

|ransactions<br>between<br>t|he charity and members<br>ofthe group are as follow|s||
|---|---|---|---|
|||2022|2021|
|||f'000|f.'000|
|Salaries recharged<br>by|Nene Park Trust to Nene Park Services Ltd|57|23|
|Admin costs recharged<br>Job Retention Scheme|by Nene Park Trust to Nene Park Services<br> grant received<br>by Nene Park Trust foi PCLT|52<br>'/<br>/1 'Tx|25|
|Salaries recharged<br>by|Nene Park Trust to PCLT|108|14|
|Admin costs recharged|by Nene Park Trust to PCLT|92|7|
|Job Retention Scheme|grant received<br>by Nene Park Trust for PCLT|(94)|(12)|
|||198|57|



## 

||||||2022|2021|
|---|---|---|---|---|---|---|
||||||Group|Group|
||||||E'000|f.'000|
|Net movement<br>in funds|||||2,643|(1,256)|
|Add back depreciation|charge||||558|387|
|Deduct investment<br>income shown|||in investing|activities|(1,251)|(984)|
|(Deduct)<br>/ add (gains)|/ losses|on|investments||(3,044)|775|
|Loss on disposal oftangible fixed <br>increase<br>in debtors|||assets||(98)|9<br>I8WAX<br>t<br>I f8/|
|Increase<br>/ (decrease)|in creditors||||160|(34)|
|Increase<br>in stock|||||(13)|(25)|
|Net cash used<br>in operating||activities|||(1,045)|(1,301)|





## 

## 

## 

|9746744). The summary<br>results for the y|9746744). The summary<br>results for the y|ear are as follows:||
|---|---|---|---|
|Profit and loss account||||
|||2022|2021|
|||f'000|f'000|
|Shop sales||130|51|
|Less: Cost ofsales||(97)|(26)|
|||33|25|
|Other expenses||(109)|(48)|
|Other operating||17|7|
|income||||
|Loss for the year||(59)|(16)|
|Balance Sheet||||
|||. 2022|2021|
|||F'000|F'000|
|Current assets||108|58|
|Current<br>liabilities||(69)|(13)|
|Net current assets||39|45|
|Creditors<br>falling|due|(72)|(19)|
|after more than|1 year|||
|Net (liabilities) I|assets|(33)|26|
|Capital and reserves:||||
|Profit and loss account||(98)|(39)|
|Share Capital||65|65|
|||(33)||





## 

## 

## 

## 

||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||2 months|
||||||f.'000|K'000|
||Income||||||
||Grants received||||147|11|
||Operating<br>income||||44||
||Expenditure|on charitable||activities|(348)|(35)|
||Nei income/|(expenditure)||||(24)|
||Exceptional|item|||600||
||Impact of parent||loan writeback||||
||Net incomel|(expenditure)||||(24)|
|Balance|Sheet||||||
||Heritage Assets (Note 8)||||3,448|3,448|
||Fixed Assets||||280|359|
||Current Assets||||335|19|
||Current<br>liabilities||||(189)|(387)|
||Net Current|Liabilities|||(146)|(368)|
||Non-current|liabilities|||(7)|(15)|
||Net Assets,||||3,867|3,424|
||Funds||||||
||Restricted|Funds|||3,448|3,448|
||General<br>Fund||||419|(24)|
||||||3,867|3,424|





## 

## 

||||Unrestricted|Unrestricted|Restricted|Permanent|Group|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Endowment|2021|
||||Note|F'000|F'000|f'000|E'000|
|Income||||||||
|investment<br>income||||984|||984|
|Grants and donations||||210|510||720|
|Acquisition<br>of sculpture|collection||||3,448||3,448|
|Charitable<br>activities||||||||
|Income from tenants||||530|15||545|
|Operating<br>income||||537|2||539|
|Trading<br>income||||51|||51|
|Total Income||||2,312|3,975||6,287|
|Expenditure||||||||
|Costs ofraising funds||||||||
|Trading cost ofsales||||75|||75|
|Investment<br>management||costs||41||49|90|
|Fundraising<br>costs||||65|62||127|
|Expenditure<br>on charitable activities||||||||
|Park management||||2,662|366||3,028|
|Total expenditure||||2,843|428|49|3,320|
|Net income i (expenditure)||||||||
|before in'vestment<br>losses Igains||||(531)|3,547|(49)|2,967|
|Net investment<br>(losses)|i gains|||(698)||(77)|(775)|
|Net income i (expenditure)||||(1,229)|3,547|(126)|2,192|
|Transfers||||58|(58)|||
|Net movement<br>in funds||||(1„171)|3,489|(126)|2,192|
|Funds brought<br>forward|1|February 2020||27,634|505|12,515|40,654|
|Funds carried forward 31 January 2021||||26,463|3,994|12,389|42,846|





## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

|CHIEF EXECUTIVE:|Mr M Bradbury|Mr M Bradbury|Mr M Bradbury||
|---|---|---|---|---|
|COMPANY SECRETARY:|Mr P H Rolfe (to 24 April 2021)||||
||Mr M Bradbury<br>(from 24 April 2021 to 22 Feb 2022)||||
||Ms SWilson (from||23Feb 2022)||
|PRINCIPAL AND REGISTERED OFFICE".|Nene Park Trust||||
||Ham Farm House||||
||Harri Lane||||
||Peterborough||||
||PE2 5UU||||
|BANKERS:|Lloyds Bank pic||||
||65 High Street||||
||Stamford||||
||PE9 2AT||||
|AUDITORS:|Saffery Champness||||
||Peterborough<br>Business Park,||||
||Westpoint,<br>Lynch|Wood,|||
||Peterborough||||
||PE2 6FZ||||
|INVESTMENT MANAGERS".|Charles Stanley|&|Co Limited||
||25 Luke Street||||
||London||||
||EC2A 4AR||||
||CCLA Investment||Management|Limited|
||Senator House||||
||85 Queen Victoria||Street||
||London||||
||EC4V4ET||||
||Rathbones<br>Brothers PLC||||
||8 Finsbury<br>Circus||||
||London||||
||EC2M 7AZ||||
|SOLICITORS:|Greenwoods<br>Solicitors LLP||||
||Monkstone<br>House||||
||City Road||||
||Peterborough||||
||PE1 1JE||||
|COMMERCIAL AGENTS:|Savills||||
||Stuart House||||
||City Road||||
||Peterborough||||
||PE1 1QF||||