Company no. 02454467 Charity no. 900315
# **Woodchester Mansion Trust Limited Report and Unaudited Financial Statements**
**31 December 2021**
## **Woodchester Mansion Trust Limited**
## **Reference and administrative details**
|**For theyear ended 31**|**December 2021**|
|---|---|
|**Company number**|02454467|
|**Charity number**|900315|
|**Registered office and**|Woodchester Mansion|
|**operational address**|Woodchester Park|
||Nympsfield|
||Stonehouse|
||Gloucestershire|
||United Kingdom|
||GL10 3TS|
|**Trustees**|Trustees, who are also directors under company law, who served during|
||the year and up to the date of this report were as follows:|
||David Butcher|
||Paddy Conaghan|
||Dr Liz Davenport|
||John Goom|
||David Granger|
||Rod Marlow|
||Roger Townsend|
||Rhiannon Wigzell|
|**Company secretary**|Rod Marlow|
|**Bankers**|Lloyds Bank Plc|
||PO box 1000|
||Bristol|
||BX1 1LT|
|**Independent**|Godfrey Wilson Limited|
|**examiners**|Chartered accountants and statutory auditors|
||5th Floor Mariner House|
||62 Prince Street|
||Bristol|
||BS1 4QD|
1
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
## **Structure, governance and management**
## _**Governing document**_
The company is controlled by its governing document, its Memorandum and Articles of Association dated 20 December 1989 (as subsequently amended), and is a company limited by guarantee, as defined by the Companies Act 2006. It is also registered with the Charity Commission as a charity.
## _**Purpose and aims**_
The aims as set out in the objects contained in the company’s Memorandum of Association are:
“To preserve for the benefit of the people of Gloucestershire and for the nation at large Woodchester Park Mansion and also whatever of the English historical architectural and constitutional heritage may exist in the County of Gloucestershire in the form of buildings (including any building as defined in section 290(1) of the Town and Country Planning Act 1971) of particular beauty or historical architectural or constitutional interest;
To promote and encourage the education and training of stonemasons, architects, and others concerned with building, in the use of Cotswold stone and other traditional building skills and to use and permit the Woodchester Park Mansion to be used and enjoyed as a centre for such purposes;
To preserve and conserve the natural environment in and around Woodchester Park Mansion by preserving and conserving the bat colonies which inhabit Woodchester Park Mansion and the area surrounding Woodchester Park Mansion for which the Trust is responsible (which forms part of a Site of Special Scientific Interest under site reference 15 WYD) for the benefit of the said bat colonies; and
To promote the understanding of the bats (including of their relationships, lifestyle and vulnerability to the environment) by encouraging the continued study of, and research into the said bat colonies for the benefit of the academic community (including universities, schools and colleges), and the public generally.”
The aims were amended during the year to include those relating to bats, following consultation, the approval of the Charity Commission and the members’ approval at the AGM.
Woodchester Mansion (“the Mansion”) is owned by Stroud District Council and leased to the company for ninety-nine years, terminating in June 2089, at a nominal rent of one pound sterling per annum. The Mansion is managed by the charity.
## _**Statement of public benefit**_
The trustees are aware of the public benefit provisions of the Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied that the objects and activities of the charity are within the definitions of charitable purposes as set down in the Act. The trustees are not aware of any public detriment caused by the charity’s objects or activities, or of anyone receiving any private benefit from the charity’s activities.
2
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
## **Management**
The trustees met at least monthly, varying between virtually on _Microsoft Teams_ , and in person at the Mansion. The Fabric, Finance, and Health and Safety Committees also met regularly, and reported to board meetings. The Education and Community Outreach Committee did not meet, although much of its remit was met in other ways, such as the new catering partnership with the Nelson Trust, and some of the events. Similarly, the Public Relations and Marketing Committee was in abeyance because much of its role was carried out by paying someone for a few hours a week, during the open season, to enhance our social media profile. The Covid related uncertainty, making it difficult to plan ahead, also contributed to these committees not being able to work effectively during the year.
The Operations Manager, the part time Administrator, and the freelance accountant all worked as normal.
## **Summary of 2021**
This was the second year in succession affected by the impact of Covid. Despite the consequent difficulties and restrictions, it was in many ways a successful year for the Mansion.
_The new green slate roof on the N range, with restored chimney stacks, and to the right, the new Cotswold slate roof on the ironing room_
A large area of roof was repaired, chimney stacks rebuilt and some associated work on windows, none of which would have been possible without the support of the Historic Houses Foundation and Historic England. We were also delighted to receive further grant aid for more roof replacement courtesy of the same funders (see further under Conservation). Some of the trustees participated in a scaffold tour which gave us close up views of the roofscape, a mixed experience because we could see what remains to be done, as well as how much has been made secure from the elements.
3
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
_Some of the trustees up on the scaffolding_
We made progress with our outreach and community involvement aims, not least by engaging another local charity, the Nelson Trust, to run the Mansion café. The Nelson Trust is well respected, and offers residential care and treatment to people with addiction and trauma related issues. William Leigh, who built the Mansion, had two grandsons who sadly suffered similarly, so the partnership has a historic link. Working in the café enables Nelson Trust clients to gain useful work experience towards future employment. As an example other ways of working together, clients of the Nelson Trust participated in circus workshops at the Mansion.
We continued to have quarterly meetings with the National Trust which owns all the land around the Mansion, and we are looking for opportunities to work together where possible. A small but significant example is that there is now a signpost to the Mansion at the bottom of the steps from the National Trust car park.
The Mansion is owned by Stroud District Council (SDC), and in 2021 both parties have worked on understanding each other’s organisations, with a view to developing a closer working relationship. There were meetings between Mansion trustees and senior officers, and it is intended that such get togethers will continue at six monthly intervals. SDC also appointed a Councillor as its official representative to WMT, who has been actively supportive and interested to attend trust meetings. This fosters another useful link between the organisations. The trust has been a grateful recipient of the critical annual grants from SDC throughout its existence.
Part of the Covid Recovery Round 1 grant was given for business advice. We commissioned a consultant from Iridescence Limited, whom we asked to take an objective look at current and potential income streams. The report was delivered in March. It contained a wealth of suggestions requiring time scales from quick wins, such as suggestions for increasing visitor spend by £1 per head, to ideas for maximising income from the newly reroofed areas, which will take longer to implement as the areas require further conservation to make them useable. Everything suggested was backed up by comparable data. It provided a useful table of costs with the expected gains, ranging from less than £500 to over £10k expenditure and from £1k to £20k in potential income enhancement. The basis for all the figures was indicated, and it included recommendations of experts in various areas, suggesting that spending on professional advice can save years of trial and error.
4
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
Following the advice from Iridescence, we approached Retail Thinking about the Mansion’s shop. We received and implemented recommendations about re-fitting the shop, stock, sourcing, pricing, display and much more. The associated costs were partly covered by the generosity of two trustees. In a difficult year, the shop sales were considerably improved and are promising for the future. We also contacted a fundraiser, who gave us some helpful pro bono advice during the year.
## **Recruitment and appointment of new trustees**
No new trustees were appointed during the year, so the number remains at eight, all of whom deploy their various and complementary skills, working consistently for the benefit of the Trust.
The Fabric Committee welcomed a new member who has had a long association with the Mansion, and relevant skills, who may become a trustee in due course. There are now two members of the Fabric Committee whom it is hoped will eventually become trustees, although at present their full time work commitments preclude further involvement. Involving younger people in the committees is part of our succession planning strategy. It enables involvement and an opportunity to gain knowledge of the organisation, but with a less onerous time commitment.
We are committed to strengthening and diversifying the board, and to that end welcome expressions of interest from potential candidates.
## **Volunteers**
We thank all the regular volunteers who run open days, help with events, assist in the office, do much of the social media, and keep up with the general maintenance. It was good that a client of our partners the Nelson Trust decided to join the Monday Volunteers, another way of the two Trusts working together to everyone’s benefit. Indeed, it was a pleasure to welcome several new volunteers during the year. We acknowledge the years and years of service to the Mansion contributed by those who retired.
## **Royal patronage**
We were delighted that His Royal Highness The Prince of Wales extended his patronage of the Woodchester Mansion Trust for a further year.
## _**Achievements and Performance**_
## **Interpretation and education**
The Mansion perforce opened late, missing the usually lucrative Easter weekend, and then was constrained by the Covid rules in place. It was not allowed to open at all until 21 May, followed by 9 weekends with Covid restrictions, and so was not fully open until the 23 July. Though disappointing, not least because we could have started restricted openings in April if permitted, at least this was better than 2020.
5
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
_Two scenes from the Notre Dame de Paris Circus_
The season then got off to a great start with two circuses, the School of Larks and Notre Dame de Paris, working all over the Mansion, running circus skills workshops, and rehearsing, culminating in three magnificent performances of the Hunchback of Notre Dame on the 31st July. The Mansion absorbs apparatus such as trapeze towers, has good acoustics and many performance spaces. Nothing detracts from its stunning architecture. As it is also isolated and, on non open days, peaceful, it offers a safe space for traumatised individuals. This was a big outreach project involving the NDP circus, the Arts Council, the Nelson Trust, Cheltenham Welcomes Refugees, the School of Larks, and Woodchester Mansion Trust.
_Henry V – the Festival Players_
On August 26th the Festival Players returned after an enforced hiatus of two years, performing _Henry V_ , as usual outside, with the Mansion as the backdrop and the valley resounding to the ringing speeches, with added atmosphere from the Park wildlife.
6
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
_Some works in the stonemasonry trainees' exhibition_
An exhibition of stonemasonry by the resident Guild of St Stephen & St George took place over the August Bank Holiday weekend. It was interesting for the visitors, giving them a chance to find out more about an ancient craft, and see the high level of skill attained. The Guild‘s trainees enjoyed showcasing their work and answering questions from the public, a first time for some of them.
_Jo Nathan’s collage of William Leigh for the Open Studios exhibition_
_One of Paul Grellier’s tool sculptures_
In September and October, two artists displayed their art at the Mansion as part of Stroud Open Studios. We hosted painter Jo Nathan and sculptor Paul Grellier. Highlights of the exhibition were Jo’s magnificent collage portrait of Mansion founder William Leigh, made from pages from the bible, and Paul’s sculptures based on old tools. We also participated in the Heritage Open Day on the 10 September, waiving the usual admission charge.
7
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
The last performance of the season was the Downpour Theatre’s _Dracula_ on the 21st and 22nd October, a sell out on both nights.
_Left – the swamp in the Spooky Halloween Cellars, and right, some happy visitors_
The grand finale for 2021 was the half term Halloween _Spooky Cellars_ when the Mansion’s extensive cellars are dressed to thrill. It is ostensibly for children, but was also enjoyed by teenagers and adults. One of the Mansion’s bats obligingly made several unscripted appearances to add to the atmosphere.
## **Publicity and press coverage**
The Mansion featured on the cover of the October issue of _Cotswold Life_ and in an article entitled _The Cotswolds’ Creepiest._
There were three editions of the _Mansion Journal_ which are distributed to supporters, mainly by email.
Liz Davenport gave 12 talks about the Mansion during the year at the request of various local groups. Some were in person and others on _Zoom_ .
The website was updated regularly, especially with photographs showing the progress of the renovations, and a social media presence maintained.
## **Conserving the Mansion**
_The new N range and ironing room roofs from the east_
8
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
The conservation of the Mansion was significantly advanced, thanks to the Government’s Heritage Stimulus Fund, the Historic Houses Foundation (HHF), and Historic England (HE). Several years ago, the Ironing Room roof was leaking so badly that some of the Cotswold stone slates were removed and replaced with corrugated iron sheets which were effective but visually intrusive. In February 2020 Historic England gave us a grant towards preparing the specifications for repairing that roof and some adjacent areas. We therefore had a ready-to-go project when HHF gave us the opportunity to apply to the government’s Heritage Stimulus Fund later that year. In the event we successfully put forward the Ironing Room roof and much of the north range roof, including replacing chimney stacks, a £500k project. We had match funding of £100k available (as explained in the 2020 Annual Report) and the project was carried out within the set time limit. The first and second floor stained glass windows at the east end of the south range corridors were also included. Subsequently, Historic England also helped fund £76k for Chimney 6, which could not be done until after the deadline. We can only express our gratitude on behalf of the Mansion to the Historic Houses Foundation, Historic England and the government for this exceptional opportunity.
_Restored stained glass in window at E end of first floor corridor_
Later in the year we were again invited to apply for another Heritage Stimulus Fund grant by the HHF. We proposed the north side of the south range roof which is another area prone to leaking, and which often needs patching repairs. The grant is for £173,810 with match funding of £43,453. This has used up nearly all our remaining funds which were designated for conservation. The trustees unanimously agreed that it is so difficult to find funding for mending roofs, we should not miss this chance. Roof repairs may not be particularly glamorous, but they are essential to preserve the Mansion. Because of these grants the building will soon be over 60% watertight for the next 100 years, or longer, so it can be used and enjoyed instead of sinking into ruin.
The trustees are following up ideas for replenishing the coffers for match funding, which as described above, has been used for the 2021 and current roof works. The only outstanding grant application was made towards the end of the year for the cheese room arch and vault repairs, which are on the critical path to eventually turning some of the rooms in the north range into lettable studios, a strong recommendation from the business consultant.
9
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
The visitor toilets were replaced in time for the 2021 open season by a readymade unit, substantially paid for thanks to the Enovert Trust and awarded under the terms of the Landfill Communities Fund. Enovert funded £14.5k for the unit in early 2021. In addition, the Culture Recovery grant awarded in 2020 included £2,400 towards landscaping which was carried out by our monday volunteers, and which had to be spent by the end of March 2021. Thank you to both organisations and the volunteers.
_The new landscaped toilet block_
We were awarded a grant of £1,000 from Ecclesiastical Insurance’s Movement for Good, which has been designated for improving the floor at the main entrance. This will benefit all visitors, especially those who find the rough, uneven stones difficult.
## **Training**
The Mansion is ideal for training in heritage crafts and the conservation of historic buildings. In the course of the year we welcomed students from Bath University, and Birmingham City University, although the former had a virtual tour this year. The students are on courses such as Conservation of Historic Buildings, Conservation of the Environment, and Architecture. The stonemasonry students from Bath College also came for practical experience, but not for as long as usual, due to Covid related interruptions. The resident Guild of stonemasons ran stone days at which members of the public tried their hands at carving plaques.
_Birmingham City University MSc students experiencing stone carving_
10
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
## **Environment and bats**
The year 2021 was a difficult one for the bats because of the very cold spring weather, compounded by wind and rain later in the summer, all conditions which prevent the bats from foraging. Births of Greater Horseshoe bats started later than usual in mid July, and ended in early August. There were 69 live births, whereas the average over seven years is 89, ranging from 84 to 95. There was therefore a sharp population decline this year.
## **Risk management**
The varied risks which may threaten the charity are kept under review, and action taken as and when necessary.
## _**Financial review, fund raising and going concern**_
We were relieved and thankful to receive a re-start grant of £8k in May to help with essential expenditure before we opened for the season, and an Additional Restrictions Grant of £2k in September. These were government grants administered by SDC. We also thank SDC for the £11k _Community Resilience and Wellbeing_ grant received in April. Our share of the sales of Lucky Severn Lottery tickets from supporters who nominated the Mansion was £945. All these amounts helped enormously to bridge the inevitable shortfall in income from a second successive Covid affected year. To date we have not received notification of a grant from SDC for 2022.
In addition, we benefitted from Covid Recovery money, awarded in 2020, but to be spent up to the end of March 2021. As well as the Business Consultant (see above), we were able to extend the Mansion’s hitherto very limited wi-fi around most of the building, which opens up many possibilities, not least for more modern forms of interpretation. The money also helped with Covid secure opening, publicity, signage, and the new toilet block (see under Conservation).
The Conservation related fund raising has been described above, in the relevant section. We differentiate between the trading aspects of the business, to which the following paragraph about ”going concern” relates, and the several million pounds still needed to fully conserve the Mansion and safeguard it for the future. The combination of inflation, and shortages of materials, has already meant that we are not able to do as much in terms of roof works in 2022 as we did in 2021.
## **Going concern**
We were apprehensive at the end of October when the Mansion closed for the winter because for two successive years the open seasons, when we would expect to make 90% of our normal running costs, were seriously affected by the force majeure of Covid. We expected to have to deplete the designated reserve of six months’ running costs which the Charity Commission recommends charities to keep. We accordingly applied for Covid Recovery Round 3, but were not considered to be at sufficient risk of going out of business. In a way that was encouraging, but did not stop us being worried about our financial position. As we had only been able to be fully open for 20% of 2020 and 2021, it was not surprising to be anticipating a shortfall. We would have been in a much worse position without the various grants we have had, but were still carrying a deficit. We were also worried that once used, however legitimately, we would not be able to replenish the reserve without an unpredictable windfall such as filming. The business can generate enough over the summer to cover the winter expenses, but with no surplus.
As it happens and with considerable relief, we have survived the five months of closed season with an unexpected small surplus. We had a bit more income over the winter than usual, mainly from paranormal events. The six months of running expenses reserve therefore remains intact.
11
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
2021 was the second year running of Covid related uncertainty, making it difficult to plan ahead, and risky to commit funds to events that might ultimately have had to be cancelled. Despite everything, we were relieved to return to in month profitability in August, September and October, and were encouraged by that evidence to believe that when fully open the business continues to be viable. We are also still to see the benefit of much of the advice from the business consultant, which we are continuing to implement.
We were selected for the Steps to Sustainability programme during 2021 and in February 2022 were awarded the first tranche of a potential £10k grant for a business generating idea. We put forward a project to upgrade the Bat Observatory, with a view to making Bat Experiences an additional income stream. Up to now there have only been occasional bat evenings. We already had significant infrastructure such as CCTV cameras monitoring the bat roosts, but the room and the displays need refreshing and modernising. As part of the support we can also access some business advice/mentoring, and we have proposed marketing as a focus for those sessions. The enhanced income stream from the bats should start in 2022, and continue in the future. At the time of writing we have 15 bookings for bat experiences.
For all these reasons, combined with the recent ending of Covid restrictions, we consider ourselves a going concern and are looking forward to an unrestricted and profitable open season for 2022, starting on the 1st April.
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with 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).
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the group and the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
12
## **Woodchester Mansion Trust Limited**
## **Report of the trustees**
## **For the year ended 31 December 2021**
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
## **Independent examiners**
Godfrey Wilson Limited were re-appointed as independent examiners to the group and parent charity during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 19 May 2022 and signed on their behalf by
## Rhiannon Wigzell
Rhiannon Wigzell Chair
13
## **Independent examiner's report**
## **To the trustees of**
## **Woodchester Mansion Trust Limited**
I report to the charity trustees on my examination of the consolidated accounts of the group comprising Woodchester Mansion Trust Limited ('the charity') and its subsidiary undertaking for the year ended 31 December 2021, which are set out on pages 16 to 35.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the consolidated accounts of the group in accordance with the requirements of the Charities Act 2011 ('the Act') and you have chosen to prepare consolidated accounts for the group. You are satisfied that the accounts of both the charity and the group are not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the consolidated accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
## **Independent examiner’s statement**
Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
Godfrey Wilson Limited also provides payroll services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- (1) accounting records were not kept in respect of the charity and the group as required by section 130 of the 2011 Act and, with respect to the subsidiary, as required by section 386 of the Companies Act 2006; or
- (2) the accounts do not accord with those records; or
- (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
- (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
14
## **Independent examiner's report**
## **To the trustees of**
## **Woodchester Mansion Trust Limited**
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Alison Godfrey
Date: 23 May 2022 **Alison Godfrey FCA (Member of the ICAEW)** For and on behalf of:
**Godfrey Wilson Limited** Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
15
## **Woodchester Mansion Trust Limited**
**Consolidated statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 December 2021**
|Note
**Income from:**
Donations and legacies
Charitable activities
3
Other trading activities
4
Investment income
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
6
**Net movements in funds**
7
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**Net income / (expenditure)**
Transfers between funds|Restricted Unrestricted
£
£
-
10,852
361,696
44,071
-
51,368
-
393
-
-
361,696
106,684
-
22,077
418,401
116,982
418,401
139,059
(56,705)
(32,375)
(20,113)
20,113
(76,818)
(12,262)
211,161
195,308
134,343
183,046|**2021**
**Total**
**£**
**10,852**
**405,767**
**51,368**
**393**
**-**
**468,380**
**22,077**
**535,383**
**557,460**
**(89,080)**
-
**(89,080)**
**406,469**
**317,389**|2020
Total
£
5,511
402,711
18,568
1,590
1,479|
|---|---|---|---|
||||429,859|
||||8,737
259,167|
||||267,904|
||||161,955
-|
||||161,955
244,514|
||||406,469|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 20 to the accounts.
16
## **Woodchester Mansion Trust Limited**
## **Consolidated balance sheets**
## **As at 31 December 2021**
|Note
**Fixed assets**
Tangible assets
10
Heritage assets
11
Investments
12
**Current assets**
Stock
15
Debtors
16
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
17
**Net current assets**
**Net assets**
19
**Funds**
20
Restricted funds
Unrestricted funds:
Designated funds
General funds
**Total charity funds**|**The group**
**2021**
**£**
**40,684**
**-**
**-**
**40,684**
**2,497**
**9,116**
**285,329**
**296,942**
**20,237**
**276,705**
**317,389**
**134,343**
**56,306**
**126,740**
**317,389**|The group **The charity**
2020
**2021**
£
**£**
35,164
**39,278**
-
**-**
-
**1**
35,164
**39,279**
-
**2,497**
45,606
**19,601**
442,468
**264,531**
488,074
**286,629**
116,769
**9,925**
371,305
**276,704**
406,469
**315,983**
211,161
**134,343**
110,663
**56,306**
84,645
**125,334**
406,469
**315,983**|The charity
2020
£
32,519
-
1|
|---|---|---|---|
||||32,520|
||||-
39,377
439,824|
||||479,201
105,261|
||||373,940|
||||406,460|
||||211,161
110,663
84,636|
||||406,460|
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
- (i) ensuring that the Company keeps proper accounting records which comply with section 386 of the Act; and
- (ii) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
17
## **Woodchester Mansion Trust Limited**
## **Consolidated balance sheets**
## **As at 31 December 2021**
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on 19 May 2022 and signed on their behalf by
## Rhiannon Wigzell
Rhiannon Wigzell - Chair
18
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **1. Accounting policies**
- **a) Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Woodchester Mansion Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **b) Group accounts**
These financial statements consolidate the results of the charitable company and its whollyowned (controlled) subsidiary on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.
## **c) Going concern basis of accounting**
The accounts have been prepared on the assumption that the charity and the group is able to continue as a going concern. The trustees have considered the impact of the COVID-19 pandemic on the group's financial position due to the closure of the Mansion, and therefore all income-generating activities, for the duration of the current restrictions (as described more fully in the trustees' annual report). The trustees consider that the charity has sufficient reserves to meet both the anticipated loss of income and projected expenditure for a period of at least 12 months from the date on which these financial statements are approved.
## **d) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income from the other trading activities is recognised when the goods or services are delivered.
Income received in advance of provision of services is deferred until criteria for income recognition are met.
19
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **1. Accounting policies (continued)**
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
## **f) Funds accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## **g) Expenditure and irrecoverable VAT**
- Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support and governance costs**
- Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. Staff costs are allocated based on time spent and depreciation charges based on asset usage.
## **i) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
New building Straight line over 3 years / 10 years Property improvements 10% straight line Plant and machinery 25% reducing balance Motor vehicles 25% straight line
Items of equipment are capitalised where the purchase price exceeds £500.
20
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
**1. Accounting policies (continued)**
## **j) Heritage assets**
Mansion refurbishment is classified as a heritage asset (note 11). Heritage assets are valued at historic cost, or valuation if donated. Depreciation is charged on heritage assets at 4% on cost. They are periodically reviewed for impairment, with any necessary impairment losses being taken to the statement of financial activities.
For heritage assets that have been donated and a reliable estimate of the asset's fair value cannot be made, the asset is not recorded in the accounts.
## **k) Investments**
Investments in subsidiaries are valued at cost less provision for impairment.
## **l) Stock**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **m) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **n) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **o) Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **p) Financial instruments**
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
## **q) Pension costs**
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
21
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
**1. Accounting policies (continued)**
## **r) Leasing and hire purchase**
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
## **s) Operating leases**
Rental payments under operating leases are charged to the statement of financial activities on a straight line basis over the term of the relevant lease.
## **t) Accounting estimates and key judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation and impairment as described in notes 1 (i) and (j) above.
22
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **2. Prior period comparatives**
|**2.**
**Prior period comparatives**|||
|---|---|---|
|**Income from:**
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income / (expenditure)**
Transfers between funds
**Net movement in funds**
**3.**
**Income from charitable activities**
Grants
Ticket sales and educational activities
**Total income from charitable activities**
**Prior period comparative**
Grants
Ticket sales and educational activities
Memberships
**Total income from charitable activities**|Restricted
£
£
-
5,511
332,276
70,435
-
18,568
-
1,590
-
1,479
332,276
97,583
-
8,737
155,076
104,091
155,076
112,828
177,200
(15,245)
(6,074)
6,074
171,126
(9,171)
£
£
361,696
25,414
-
18,657
361,696
44,071
£
£
332,276
59,225
-
11,110
-
100
332,276
70,435
Unrestricted
Restricted Unrestricted
Restricted Unrestricted|**2020**
**Total**
**£**
**5,511**
**402,711**
**18,568**
**1,590**
**1,479**|
|||**429,859**|
|||**8,737**
**259,167**|
|||**267,904**|
|||**161,955**
-|
|||**161,955**|
|||**2021**
**Total**
**£**
**387,110**
**18,657**|
|||**405,767**|
|||2020
Total
£
391,501
11,110
100|
|||402,711|
23
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **4. Income from other trading activities**
|**Income from other trading activities**||||
|---|---|---|---|
|Tea room income
Shop sales
Photoshoots and filming
Paranormal events
Other events
Rental income
**Total income from other trading activities**|Restricted
£
£
-
4,456
-
8,438
-
3,478
-
22,594
-
6,702
-
5,700
-
51,368
Unrestricted|**2021**
**Total**
**£**
**4,456**
**8,438**
**3,478**
**22,594**
**6,702**
**5,700**
**51,368**|2020
Total
£
5,733
1,019
4,386
630
1,100
5,700|
||||18,568|
All income from other trading activities in 2020 was unrestricted.
## **5. Government grants**
The charitable company receives government grants, defined as funding from Stroud District Council and Arts Council England to fund charitable activities. The total value of such grants in the period ending 31 December 2021 was £31,364 (2020: £31,525 from Stroud District Council and the furlough grant under the Coronavirus Job Retention Scheme). There are no unfulfilled conditions or contingencies attaching to these grants in 2021.
24
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **6. Total expenditure**
|Café, events and fundraising
Project costs
Conservation costs
_Support and governance costs:_
Insurance
Mansion running and maintenance costs
Office costs
Professional fees
Vehicle costs
Staff costs (note 8)
Bank charges
Depreciation and loss on disposal
Bad debt provision
**Total expenditure**
**Prior year comparative**
Café, events and fundraising
Project costs
Conservation costs
_Support and governance costs:_
Insurance
Mansion running and maintenance costs
Office costs
Professional fees
Vehicle costs
Staff costs (note 8)
Bank charges
Depreciation and loss on disposal
Irrecoverable VAT
Bad debt provision
Total expenditure|Raising funds
£
16,342
-
-
109
790
479
2,019
-
987
115
1,236
-
**22,077**
Raising funds
£
4,419
-
-
-
-
72
2,969
-
-
41
1,236
-
-
8,737|Charitable
activities
£
-
15,145
428,424
2,076
15,705
4,813
14,858
4,852
39,329
785
9,135
261
**535,383**
Charitable
activities
£
-
26,125
138,616
2,388
16,844
4,755
11,408
1,903
36,218
1,407
11,485
7,645
373
259,167|**2021 Total**
**£**
**16,342**
**15,145**
**428,424**
**2,185**
**16,495**
**5,292**
**16,877**
**4,852**
**40,316**
**900**
**10,371**
**261**|
|---|---|---|---|
||||**557,460**|
||||2020 Total
£
4,419
26,125
138,616
2,388
16,844
4,827
14,377
1,903
36,218
1,448
12,721
7,645
373|
||||267,904|
Total governance costs were £3,095 (2020: £4,338) for accountancy fees.
25
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
**7. Net movement in funds**
This is stated after charging:
|Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration:
Independent examination (excluding VAT)
Other services (excluding VAT)|**2021**
**£**
**10,371**
**Nil**
**Nil**
**1,850**
**1,245**|2020
£
6,007
Nil
Nil
2,400
1,658|
|---|---|---|
**8. Staff costs and numbers**
Staff costs were as follows:
|Salaries and wages
Pension costs|**2021**
**£**
**39,937**
**379**
**40,316**|2020
£
35,820
398|
|---|---|---|
|||36,218|
No employee earned more than £60,000 during the year.
The key management personnel of the charitable company are the trustees. The total employee benefits of the key management personnel were £nil (2020: £nil).
|Average number of employees (head count)|**2021**
**No.**
**2**|2020
No.
2|
|---|---|---|
## **9. Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's subsidiary, Woodchester Mansion Trading Limited, gift aids its available trading profits to the charity. There was no taxable profit retained by Woodchester Mansion Trading Limited that was chargeable to corporation tax in the current or prior year.
26
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **10. Tangible fixed assets**
|**Group**
**Cost**
At 1 January 2021
Additions in year
**Depreciation**
At 1 January 2021
Charge for the year
**Net book value**
**Charity**
**Cost**
At 1 January 2021
Additions in year
**Depreciation**
At 1 January 2021
Charge for the year
**Net book value**
At 31 December 2021
At 31 December 2021
**At 31 December 2021**
At 31 December 2020
At 31 December 2021
At 31 December 2021
At 31 December 2020
**At 31 December 2021**|**£**
**£**
32,726
8,426
9,070
-
41,796
8,426
13,542
7,270
4,556
580
18,098
7,850
**23,698**
**576**
19,184
1,156
**£**
**£**
32,726
8,426
9,070
-
41,796
8,426
13,542
7,270
4,555
580
18,097
7,850
**23,699**
**576**
19,184
1,156
**New**
**building**
**Property**
**improvement**
**New**
**building**
**Property**
**improvement**|**£**
116,672
6,821
123,493
107,470
3,219
110,689
**12,804**
9,202
**£**
114,731
6,821
121,552
106,300
2,729
109,029
**12,523**
8,431
**Plant and**
**machinery**
**Plant and**
**machinery**|**£**
8,095
-
8,095
2,473
2,016
4,489
**3,606**
5,622
**£**
5,097
-
5,097
1,349
1,268
2,617
**2,480**
3,748
**Motor**
**vehicles**
**Motor**
**vehicles**|**Total**
**£**
**165,919**
**15,891**|
|---|---|---|---|---|
|||||**181,810**|
|||||**130,755**
**10,371**|
|||||**141,126**|
|||||**40,684**|
|||||35,164|
|||||**Total**
**£**
**160,980**
**15,891**|
|||||**176,871**|
|||||**128,461**
**9,132**|
|||||**137,593**|
|||||**39,278**|
|||||32,519|
27
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **11. Heritage assets**
Mansion refurbishment is classified as a "heritage asset" in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2019). In 2015 the trustees considered the net book value of these assets, given the significance of future maintenance requirements, and concluded it was appropriate to impair them to nil value. This asset is kept within the charity.
|**Cost**
At 1 January 2021 and 31 December 2021
**Depreciation and impairment**
At 1 January 2021 and 31 December 2021
**Net book value**
**At 31 December 2021**
At 31 December 2020|**£**
**1,179,163**
**Mansion**|
|---|---|
||**1,179,163**|
||**-**|
||**-**|
## **Summary analysis of heritage asset transactions in the past 5 years**
There have been no additions (purchased or donated), depreciation charges, impairment or other charges made to heritage assets in the last 5 years.
## **12. Investments**
|Investment in subsidiary company|**2021**
2020
**£**
£
**-**
**-**
**The group**|**2021**
2020
**£**
£
**1**
1
**The charity**|
|---|---|---|
The investment represents 100% of the ordinary share capital of Woodchester Mansion Trading Limited, whose principal activity is to carry out trading activities in support of the charity. A summary of the financial results and position of Woodchester Mansion Trading Limited is given below (see note 13).
28
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **13. Subsidiary undertakings**
_Woodchester Mansion Trading Limited_
Woodchester Mansion Trading Limited is the trading arm of the charity, of which Woodchester Mansion Trust Limited is the sole shareholder.
|Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable
Profit on ordinary activities before taxation
Tax on profit on ordinary activities
**Profit for the financial year after taxation**
Total retained earnings brought forward
Total comprehensive income for the year
Gift aid distribution to parent charity
**Total retained earnings carried forward**
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities
Funds|**2021**
**£**
**32,372**
**(5,041)**
**27,331**
**(6,043)**
**21,288**
**-**
**21,288**
**-**
**21,288**
**2021**
**£**
**9**
**21,288**
**(19,891)**
**1,406**
**2021**
**£**
**27,146**
**(25,739)**
**1,407**|2020
£
6,116
(1,069)|
|---|---|---|
|||5,047
(4,801)|
|||246
(41)|
|||205
-|
|||205|
|||2020
£
(196)
205
-|
|||9|
|||2020
£
13,783
(13,773)|
|||10|
29
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **14. Parent charity**
The parent charity's gross income and the results for the year are disclosed as follows:
|Gross income
Results for the year|**2021**
**£**
**455,899**
**(90,476)**|2020
£
423,742
275,249|
|---|---|---|
## **15. Stock**
|Finished goods
**Debtors**
Trade debtors
Amounts owed by group undertakings
Prepayments
Other debtors
VAT receivable
**Creditors : amounts due within 1 year**
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Accruals
Deferred income (see note 18)
Other creditors|**2021**
2020
**£**
£
**2,497**
-
**2021**
2020
**£**
£
**4,650**
6,266
**-**
-
**2,816**
3,297
**1,233**
19,073
**417**
16,970
**9,116**
45,606
**2021**
2020
**£**
£
**3,229**
87,513
-
-
**459**
684
**7,002**
11,028
**9,272**
16,822
**275**
722
**20,237**
116,769
**The group**
**The group**
**The group**|**2021**
2020
**£**
£
**2,497**
-
**2021**
2020
**£**
£
**-**
280
**15,427**
-
**2,524**
3,054
**1,233**
19,073
**417**
16,970
**19,601**
39,377
**2021**
2020
**£**
£
**2,979**
87,483
**-**
2,265
**459**
684
**5,562**
9,579
**925**
5,250
**-**
-
**9,925**
105,261
**The charity**
**The charity**
**The charity**|**2021**
2020
**£**
£
**2,497**
-
**2021**
2020
**£**
£
**-**
280
**15,427**
-
**2,524**
3,054
**1,233**
19,073
**417**
16,970
**19,601**
39,377
**2021**
2020
**£**
£
**2,979**
87,483
**-**
2,265
**459**
684
**5,562**
9,579
**925**
5,250
**-**
-
**9,925**
105,261
**The charity**
**The charity**
**The charity**|
|---|---|---|---|
||||105,261|
## **16. Debtors**
## **17. Creditors : amounts due within 1 year**
30
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **18. Deferred income**
|At 1 January 2021
Deferred during the year
Released during the year
At 31 December 2021|**2021**
2020
**£**
£
**16,822**
8,070
**5,702**
16,822
**(13,252)**
(8,070)
**9,272**
16,822
**The group**|**2021**
2020
**£**
£
**5,250**
7,470
**925**
5,250
**(5,250)**
(7,470)
**925**
5,250
**The charity**|**2021**
2020
**£**
£
**5,250**
7,470
**925**
5,250
**(5,250)**
(7,470)
**925**
5,250
**The charity**|
|---|---|---|---|
||||5,250|
Deferred income relates to rent for January 2022 received before year end and income received in advance of delivery of services.
## **19. Analysis of group net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 December 2021**
**Prior year comparative**
Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 December 2020**|£
-
134,343
-
**134,343**
£
-
293,162
(82,001)
211,161
Restricted
funds
Restricted
funds|£
-
56,306
-
**56,306**
£
-
110,663
-
110,663
Designated
funds
Designated
funds|General
funds
£
40,684
106,293
(20,237)
**126,740**
General
funds
£
35,164
84,249
(34,768)
84,645|**Total**
**funds**
**£**
**40,684**
**296,942**
**(20,237)**|
|---|---|---|---|---|
|||||**317,389**|
|||||Total funds
£
35,164
488,074
(116,769)|
|||||406,469|
31
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **20. Movements in funds**
|**Movements in funds**||||||
|---|---|---|---|---|---|
|**Restricted funds**
North Range Roof
Natural England fund
Ironing Room Roof fund
Historic Houses Foundation
Historic Houses Foundation
South Range Roof
Enovert - Toilet Block
**Total restricted funds**
_Designated funds:_
Mansion conservation fund
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**
Cultural Recovery -
Essential
Cultural Recovery -
Action Plan|At 1
January
2021
£
12,697
-
13,977
19,305
19,215
145,967
-
-
211,161
110,663
110,663
84,645
195,308
406,469|Income
£
-
2,656
-
-
5,739
199,708
139,048
14,545
361,696
-
-
106,684
106,684
468,380|£
(12,697)
(2,656)
(13,977)
(19,305)
(19,386)
(333,753)
(16,627)
-
(418,401)
(54,357)
(54,357)
(84,702)
(139,059)
(557,460)
Expenditure|Transfers
between
funds
£
-
-
-
-
(5,568)
-
-
(14,545)
(20,113)
-
-
20,113
20,113
-|**£**
**-**
**-**
**-**
**-**
**-**
**11,922**
**122,421**
**-**
**At 31**
**December**
**2021**|
||||||**134,343**|
||||||**56,306**|
||||||**56,306**|
||||||**126,740**|
||||||**183,046**|
||||||**317,389**|
32
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **20. Movements in funds (continued) Purposes of restricted funds** North Range Roof This
This relates to grants received for repairs to the roof of the North range.
Natural England fund
The Natural England fund (Conservation Enhancement Scheme) is to help fund the grazing of the Trust's land under the Environmental Stewardship Scheme, and also to support bat activities.
Ironing Room Roof fund Cultural Recovery - Essential
This relates to donations received for repairs to the roof of the Ironing Room.
This relates to assistance towards support and governance costs from November 2020 to March 2021.
Cultural Recovery - Action Plan
Funding to implement an action plan to stabilise the business postCovid. This fund has been fully spent on capital costs.
Historic Houses Foundation
This relates to funds received for conservation repairs to the north east roofs, two chimneys, and south corridor's east windows.
Historic Houses Foundation - South Range Roof
This relates to funds received for conservation repairs to part of the south range roof and a window.
Enovert - Toilet Block
This relates to funds received towards the replacement of the toilet block and store. This fund has been fully spent on capital costs.
## **Purpose of designated funds**
Mansion conservation fund
The purpose of the designated reserve is to identify essential expenditure anticipated over the next two to three years, for which the trustees have made provision. This reflects the imperative of conserving the Mansion in the short term, albeit as part of the long term conservation plan, and without which the Mansion would deteriorate to the detriment of its ultimate conservation.
33
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **20. Movements in funds (continued)**
## **Transfer between funds**
Transfers out of restricted funds represent capital additions made in previous years whereby the restrictions on the original donations have been satisfied by purchasing the asset.
|**Prior year comparative**
**Restricted funds**
Bat fund
Rebuilding Masons'
Lodge
North Range Roof
Natural England fund
Living Classroom fund
Ironing Room Roof
fund
The Chapel
Historic England -
Laundry
Historic England -
CMP
Historic Houses
Foundation
**Total restricted funds**
_Designated funds:_
Heritage Lottery Fund bids
Mansion conservation fund
_Total designated funds_
General funds
**Total unrestricted funds**
**Total funds**
**Unrestricted funds**
Cultural Recovery -
Action Plan
Cultural Recovery -
Essential
Historic England -
Brewery Wall|At 1
January
2020
£
678
4,664
12,697
914
6,712
13,977
393
-
-
-
-
-
-
40,035
9,985
133,340
143,325
61,154
204,479
244,514|Income
£
-
-
-
2,000
-
-
-
32,175
20,565
20,345
10,683
20,448
226,060
332,276
-
-
-
97,583
97,583
429,859|£
(170)
(485)
-
(2,227)
(6,712)
-
(98)
(12,870)
-
(21,290)
(10,683)
(20,448)
(80,093)
(155,076)
-
(31,717)
(31,717)
(81,111)
(112,828)
(267,904)
Expenditure|Transfers
between
funds
£
(508)
(4,179)
-
(687)
-
-
(295)
-
(1,350)
945
-
-
-
(6,074)
(9,985)
9,040
(945)
7,019
6,074
-|**£**
**-**
**-**
**12,697**
**-**
**-**
**13,977**
**-**
**19,305**
**19,215**
**-**
**-**
**-**
**145,967**
**At 31**
**December**
**2020**|
|---|---|---|---|---|---|
||||||**211,161**|
||||||**-**
**110,663**|
||||||**110,663**|
||||||**84,645**|
||||||**195,308**|
||||||**406,469**|
34
## **Woodchester Mansion Trust Limited**
## **Notes to the financial statements**
## **For the year ended 31 December 2021**
## **21. Related party transactions**
Woodchester Mansion Trust Limited has a wholly owned subsidiary, Woodchester Mansion Trading Limited, a company limited by shares (company no. 10335636). At 31 December 2021, Woodchester Mansion Trust Limited is owed £15,427 from Woodchester Mansion Trading Limited (2020: £2,265 was owed to Woodchester Mansion Trading Limited).
35