DocUsEnVel0p?1D'. 91168401-7C684895-A2F&25191941E102 Company registration number: 02454467 Charity registration number: 900315 Woodchester Mansion Trust Limited (A company limited by guarantee) Annu21 Report and Consolidated Unaudited Financial Statements For the Year ended 31 Deeember 2023 VJWIWllllN 'AD7DYZXK• 1510712024 COMPANIES HOUSE AS
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Docuslan Enbh)p10.. 911684D1-7C68489M2F&25191941E102 Woodchester Mansion Trnst Limited For the year ended 31 December 2023 CoDtents Administrative Infomatitin Trustees, Report 2-10 Statement ofTru$ttt$' Responsibilities Independent Exgminer'5 Report 12 Sts¢emeDt of Fln4Dcial Aelivities 13 Balance Sbeet 14 Notes to th¢ Finantil Statements 15-26
Clocusign Envelope 10: 911684D1.7C68489&A2F&2S191941 E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 ADMINISTRATIVE INFORMATION Charity Number 9003 15 Company Registration Numb 02454467 Registered & Administrative Office Woodchestr Mansion Woodchester Park Nympsfield Gloucestershire GLIO 3TS Company Secretary R(NJ Marlow Trustees David Butcher (retired 29 January 2024) Paddy Conaghan Dr Liz Davenport John CrtK)m David Granger Rod Marlow Councillor St¢ve Robinson (apEK)inied 30 April 2023) Ro8¢r Townsend Rhiannon Wigzell Sndependent examiners Hazlewoods LLP Sthverton Court Stsverton Cheltenham GL51 OUX Bankers Lloyds Bank PIC Business Banking POBoxlOC BXI ILT The Charity is incorpordted in England and Walc5.
OocuS6Jn Erwelope10'. 91168401-7C684895-A2F&25191941E102 Woodchester Mansion Trnst Limited For the year ended 3l December 2023 TRUSTEES. REPORT Strueture, Governanee and Man74gement Governing dotument The company is controlled by its goveming documenL its Memordndum and Articles of Association dated 2Q December 1989 (as subsequently amended}. and is a company limited by guarantee, as defined by the Companies Act 21M)6. It is also registered with the Charity Commission as a tharity. Purpo$e and Aim$ The aims as 5th out in the obiffts ntaInl in the a)mpany's M¢mor4ndum of Asy)¢iation arc 'Yo pserve for the benefit of the peopl¢ of GlOutesrshlre and for the naiion at large Woodchester Park Mansion and also whateverof the English hi5torieal arehitecturnl and constitutional heritage may exist in the County of Glou¢estershire in the forni of buildin85 (including any building &% defined in section 290(1) of the Town and Country Planning Act 1971) of particular beauty or historical architectural or constitutional intsresl; 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 pennit the Woodchester Park Mansion to be used and enjoyed as a centre for suth purposes; To prcscrve and conserve the natural cnvironmeot in and around Woodthester Park Mansion by preserving and conserving the bat colonies which inhabit Woodchester Park Mansiort and the area surrounding Woodchester Park Mansion forwhich theTrust is reswnsible (which fornis part of a Site of Spla] Scientifi In*rest under slte reference 15 WYD) for the benefit of the said bat coloni. and To promote the understanding of ihe bats {IlUding of their relationships. lifestyle and vulnerdbility to the environment) by encouraging the continued study of, and research into the said bat colonies for ihe benefil of the academic community (induding universities, schools and colleges). and the publi¢ generally." Woodchester Mansion {'Xhe Mansion-) is owned by Stroud District Council (SDC) and leased to the company for ninety-nine years. terminalin8 in June 2089, * a norninal rent of one pound sterling per annum. The Mansion is managed by the charity. Statement ofpublit Benefit The trustees are aware of the public benefit provision5 of the Charittes Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied ihat the objects and aclivities of the charity are within the definitions of Charitsble PUTFK)S¢S as set down in the Aet. The trusiees are not aware of any public detriment caused by the eharity's objects or activities. or of anyone receiving any private benefit from the charity's activities. Management The Mansion has one full time employee. the Operations Manager, who lives on site, a part ttme Administrator, a freelance ix)okkeeper, and a freelancer paid to do social media advertising a few hours per wcek. The body of trustees number&1 nine for most of 2023, Councillor Steve Robinson having been ¢OvOPted in April (and subsequently ratified at the AGM). David Butcher decided to retire at the end of the year after t¢n years of exernplary service. many as chairof the Fabric Committe4 on which he will slay, so the Mansion will relain access to his knowledge. expertise. and wisdom. The Irustee body therefore reverts to eight. The remaining eight work collaboratively alongside robust discussion and independent viewtN)ints. All the trustees a involved to varying extents in the muliiple aspects of strategy. fundraisin& and running the Mansion.
Docusign Envelope ID.. 911684D1-7C88489&A2F&25191941 E102 Woodchester Mansion Trust Limited For the yegr ended 31 December 2023 TRUSTEES. REPORT (eOntlDed) During the year we approached and were approached by prospcctive trustees. without SU¢$$. It seems people are chary of accepiing the workload and level ol responsibility when they realise what is involved. We are pleased that the Fabric Committee was joined during the year by David Hardwick - somo)ne who has been bringing university students on educational visits to the Mansion for over thirty years. There are now thr¢¢ potential future trustees on the Fabric Committee who will one day have more time to give the Mansion. The open days. private tours. sorne events, and the routine maintenance are all possible due to the dedicaied b)dy of volunteers. Thank you to everyone who served the Mansion during the year. This year eleven new volunteers joined and worked for the season. Half-day volunteering was introduced ai the request of the volunteers. so those with conflicting ¢ommitments can still help out. Summary of 2023 We started the open season with a replacemenl minibus and a new guidebook. The visitor numbers were similarto 2022 which was a satisfactory outcome given the national OnoMiC outl(w)k forcing many people to watch their ¢xp¢nditure. In gen¢Tal InMe was fairly similar to the previous year. so ¢nou8h to finance the winter closed seasork comfortably including set up costs for 2024. Non¢ of this changes the fact that the Mansion need5 £5+ million for ¢he remaining conservation work, and its eA)ndilion is such that much of il is time limited. The annual grdnt of £12,000 from SDC also contributes significantly to the running costs. Wood¢hes%o . iozt . TH IDEBOO. The year was dominated by the feasibility study of the north range. finan¢¢d by SDC, lo use some of the currently unused areas &$ Icttable offices to genernte incom¢ that Could be put towards match funding. The r¢port took longer than expected. and was not ComplelY finished by the end of the year. Complexity w&$ added by necessary reports from heritage architec a quantity surveyor. an M&E consultant and a surveyor familiar with the requirements of the local rentsl market. Ultimately the outcome was disapFK)inting inasmuch as it W&8 Clear that the Cost to retum ratio was uneconomi¢ at this juncture. The wsts w¢re hi8her than expe¢t¢d because more fitting out and additional facilities were needed than anti¢ipated at concept stage. all compounded by unpredicted levels of construction intlation. Ironically, because this seemed the likeliest vulnerability to the plan. the Mansion's total reliance on an electricity supply which was already at maximum capacity. proved surmouniable by usin8 LPG for heating, * less than half the price of an enhanced electricity cabl¢- albeit only marginally less eostly to run. Wovd¢bèsttr. M*75kn Trwt..
Docusign Envelope ID.. 911684D1-7C68489M2F&25191941 E102 Woodcbester Mansion Trust Limited For the year ended 31 December 2023 TRUSTEES. REPORT (eootimued) IVJllUIV The Norih Range, with new roofand chimneys.. L4fi- Across ik co¥rtyard Righi- From I1 easi There is. however, much in the rep)rt that will be useful in the future. When the Mansion was built the north range was intended to be servants. quarters. li is not of the same level of architectural value as the rest of the Mansion, and also difficult to include in the main lour. It has. however. a souftd roof. and both an internal and a separdte extemal entrance, so we will be able to explore option5 for using the available rooms in the futu. The projected income from the north rnnge was always intcnd¢d to go towards providing matclr funds for conservation. not towards the Mansion's running costs. We will now have lo rely for the time bein8 on windfall sums to replenish the match funds, and work on membership and increasing visitor numbers to try to accumulat¢ more than we need for the annual running costs. To that end four trustees took &Jvantage of two bespoke sessions on rnarketing and membership offered by Sieps lo S¥slainability (a programrne run by the Social Entcrpri5e Academy and funded by the Loiiery) in OCber and November. We thank the Charles Skey Charitsble TTUSt for a generous grant of £22,500 which is being spent on improving the experience of our visitors so they will benefii from a level and smooth a¢55. A new ramp to the main door, combined with a completely level floor will help disabled visitors in particular and all visitors in general. There will be a new dr, and beske shop fittings such as free-standing display units fit the alcoves. The shop wares will in future be displayeAI properly> there will be more room for merehandise, and space to move around. Nothing original will be affected. These improvements are underway and should be finished in time for the 2024 opening day. The Nelson Trust ran the cafe for the third year. They decided to relinquish il at the end of th'e open season, alongside most of their catering, having h*1 the sort of problems, such as stsff recruitment, that beset the ¢aterin8 industry. We were s(Kry baUse the two charities were a 8IK>d fit with each other. We hope to find other areas where we can work together.
Docusign En¥elop10.. 911684D1-7C684895-A2F&25191941e102 Woodchester Mansion Trnst Limited For the year ended 31 December 2023 TRUSTEES. REPORT (eontitt¥ed) (I ,IPli_: Iyork in progress on levelling ihefloor in ihe entrance hall. D¢¢ember 2023 t)uring the year we commissioned a joini catrring report. It contained various recommendations, for example to allow dogs into the cafe, which we will action with our new cateTers. After several months of inrviewing prospective alternative providers a new caterer has been chosen. Royal P2troDllg¢ We continued to await the outcome of the review of His Majesty the King's patronages. Atbitvements and Perforrnnces We were able to fitnd a new 8uidetN)ok ai the end of the winter closed srason. The previous edition dating from 2011 was Out of date. Much ha5 b¢¢n dis¢overed about th¢ Mansion since then. so the updated one is more accurate and has many new pictures. We also Ught a replacement minibus in time for the new season, so now hav¢ two reliable vehi¢lcs. There was a long open se&son from the 3151 March to the P November. with th¢ Mansion open for 105 days. There was also a New Year's Day opening to start off 2023. The main season started the week before a clement Easter weekend. It was followed during the early May Bank Holiday weekend by an event kindly arranged by the SieompunLf olGloucesiershire a5 a fundraiser for the Mansion. Thc Mansion accommodaied stalls selling wares such as jewellerytr Costumes, books and crdfts, in addition cheese rolling, tea duellin8 and tea pot racing events. Outside there w&8 a programme including mayryjle dancin& Morris dancing. Mummers. hobby horse dressa8< Stone Carving, a steam en8ine. circus skills with the sch)1 of Larks and lots more. The two-day ev1 proved so p)pular that car parking, cafe and lavatories were all under pressure. Even so, the attendees. many of them first time visitors, were good humoured and wntributed to th¢ collective enjoyment. We are especially 8ratefiil to the Sieampynks and Mccall foT so much help with the organisation bxause one of our limiling factors is thai there are never enough of us to pui on as many events as we would like to hold. We are looking forward io the &eampunkn' May 2024 extrnvaganza.
Do¢uSign Erwelope ID.. 911684D1-7C684895-A2F&25191941E102 Woodchester Mansion Trnst Limited For the year ended 31 December 2023 TRUSTEES. REPORT (eontii4¢d) Mayday 2023.. Leli - Tradifional Morris DapKer Righi- Sieampunks in ¢OSthme Other events included two drama productions: in June Divorce4 Beheaded, Died a one man production by John White aut Henry Vlll" in August Twelfth Night an open air Shakespeare production by the Festival Playus. In S¢pt¢rnber we supported the Heritage Open Day. In October the Brewery open Weekd gave the public a chance to e an area of the Mansion not usually accessible because of the risk of disturbing the bats during their breeding season. This eveni aitracted double ihe numbers who came last year. As a grand finale the Halloween Spooky Cellars andGolden Pumpkin Trail ran for rt consecutive days to accommodate the split half terni we¢k5 in different areas. Our voluntea5, and our Operations Manager PrJu¢¢d a tour de force. especially at the end of an already long season. A good way to sce the Mansion is on a private ur durin8 a non-open day when the building is quiet. This option is popular wilh local organisaiions. Often groups such as the U3A or local history societies ask for a talk and are enthused to follow up with a private tour. There were several such visiis frorn Gloucester based holiday company English Holiday Crnises. Sometimes individuals also tKK)k a private tour for friends and family. The Stonem&sons' Guild ran stone carving days all year TDund' attendees were coached to ¢arve stone plaques. There were also paranornial event4 bat experientts, and photo sh)ts, bu¢ no filming during this The AGM was held at the end of June, and combined with a chance to See the ¢ompleted Roger Ransome Bai Obsen7aioryand parts of ihc north range. nol usually acct8sible for members or visitors. Soon afterwards we circulated a members. questionnaire lo find out what our members most value inforni our intended membership drive. In January the Niortal Trusi 8enerously included the Mansion in an accessibility audii that they had commissioned for Woodchester Park. Unfortunately. it happened in winier when the Mansion is closed, cold, and inhospitable which distorted the findings. We noted. and have stsrted implementin8, some of the Commendations. for example with the new access and entrance hall. Th¢ Fabri¢ Committee will use the audit for future planning. We had preliminary conversations with GL I I, the Community Hub for Dursley and Cam, to scc if we an work gether in the inrests of the local community. this is a work in pro8res5. We hosted a successful visit from a school in Stroud for youngsters who have been excluded from mainstream educalion.
t)ocuS•3n Envelope ID.. 911684D1-7C68489&A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 TRUSTEES, REPORT (eontiAued) During the year the National Trus4 who own all the land surrounding the Mansion, acquired an aa now known as Tinkley Gate. It is a new access to the Park and the Mansion. For the first time Ihere is a place lor information. inter alia lo explain that the Mansion is not a National Trust property. and about the Mansion's opening hours. Cafe, and events. Thank you to the National Tnlst for much cooperaiion and help this year. Publicity and Press Cover•ge The Mansion news and events featured regularly on social mcdia. There were the usual three high quality editions of the Mansion Journal whieh is distributed supporters. Liz Davenrt gave 15 tslks to local organisations. In the autumn work stard on updating the website. Conservation The North East section of the South Range roof was repaired in 2022, so it rwhed the end of its defects, liability period this year. The new work is all in good condition buL soon after. some of the old slating immediately adjacent came loose. The c05t of a¢¢essin8 these dilTicult areas (near the main ridge above the spiral staircase) is high in relation to the cost of the repairs themselves but we have been looking at ways of reducing these costs. We are at#)ut acquire tower scaffolding whsth will fa¢ilitate aecess for these repairs and make significant savings on the cost of annual gutter cleaTanc¢ and future roof repairs. The improvements to the main entrance mentioned aiM)ve are partly Ly)nseryation, as well as health and safery and general maintenance. Training Trdining take5 several different foms ai the Mansion to meet our charitable aim 'to promote and encourage the training of stonemasons. architeeL8. and others concerned with building. in the use of Cotswold stone and other traditional building skills. The Stonemasons. Guild have used the Mansion as a base for five years now, making full use of th¢ Masons. Lodge. and using the Mansion as-a living teXt0k.. The m350ns use the traditional mallet and chisel tls, and bring to life the ancient CTaft which range5 from constructing buildings. such as the Mansion and cathedrals, to delicate sculpture. The appreniiceships last seven years. The m&sons facilitate regular Stone Days where altendee5 l¢am how ts) carve a plaque, and give demonstrations on some of the open days. Examples of iheir mastery of their crnft are on display thmughout the year, and commissions are taken. One of the apprentices has recenily embarked on a two year "journey" to visit stonemasons around ihe world. to learn and to hone his skills. As another approach, Bath College students, who are enrolled on u)urses io achieve their City and Guilds level 2 or 3 diplom4 spend ten days each year at the Mansion using it literalty as"8 living classroom", where they can put College-bd learning into prnctice. For example, they have just cornpled repairing an archway which has provided a project for severnl years. In additiOD three trninees from Bath College on a programme which aims to get students with special needs into trainin8 and employment made several visits to work with our Operations Manager. During 2023 students from the Royal Agriculturnl University came for tours and to try out stone carving. We hosted Bimiingham City University on a postgraduate Conservaiion of ihe Hisroric Environmeni course and Bath University on a ConserV10n ofHisioric Buildings MSC course. We also had an annual visit from Rics for continuing professional development.
Do¢uSn Envelope ID.. 911684D1-7C684895-A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 TRUSTEES, REPORT (continued) The volunteer guides point out rnany aspe¢ts of traditional heritage skills during their tours. Members of the public involved in the building trad¢ often say how fascinating they find the Mansion. The stonemasons also gave demonstrations of the m&wnry crafL Some happy stsdenls show off Iheir work after a sione carving d¢ry Bats The new bat inlerprelation panels. funded by the Sieps lo slainability programme were installed in May. completing thai stsge of the refurbishmeni of the Roger Ransome Bat Observatory. We also ordered more comfortable chairs for 2024. A final lrnnche of &epping On money funded two new bot deleclor4 so bai evenings can in futur¢ hav¢ slightly larg¢r group5. Nathral Habilats. a knur company specialising in nature experience3. booked several visits again, although do not plan to return in 2024. prefe18 early s¢art5 for the dawn chorus io late nights waiting for dusk when the batsgo foragin8. Our public bat eXrienceS usually sell out quickly, and we are developing them for 2024. We have intmduccd a regular "Bat Cornerf, to our Joumal. We thank Natural England for their £3.332 grani annually for five y&qrs which will enable us to continue heating the maternity roosts and hibernaculum, vital for the bats. welfare. and pay a bat expert to monitor the bats. welfare and advise on such things as varying requirements for the bats. nourishment during the year. The National Trust have had a licence to graze their Belted Galloway cattle on the Mansion fields as well &$ the rest of the park. The intention is to convat the licence to a tenan once some f¢n¢e lines have been altered. New inlerprelaiion panels in ihe observalory.
Oocusign Envelope 10.. 911684D1-7C68489&A2F&25191941E102 Woodchester Mansion Trnst Limited For the year ended 31 Decejnber 2023 TRUSTEES, REPORT {¢ontinyed) Risk Management The Operations Manager irtsptsthe condition of the building every month against a checklist and circulates it to several trusiees. Any areas of wncem such &8 visible deterioration or a new le8k 3r¢ assessed by members of the Fabric Commitlee and actioned as appropriate. The fabric relaled risks increase with time as the building ages. Some of the'Xemp)rary" expedients. such as the protective roof over the chapel are now of an age where there is a risk of them failing. The krK)ck-on effect would be expensive. and would delay the rA)nservation. It therefoff becom&8 ever more urgent to find funding before it is too late. The recommendations of a Fire Safety Audit were implemented, for example installing a smoke detector in the cellars, and updating the kitchen. Financial Financial risks are Considered * Finance Committee meetings and tNstec mertings. The principal risk to the Mansion remains that the Capital funding of ovtt £5 million ne¢e5SW to complete the conservalion work. and therefore secure the Mansion's long-terni fUre. will not be fortheoming wiihin the tirneframe. With this in Min we made an approach to the National Lottery Heritage Fund which resulted in the receipl of some valuable fecdba¢k aut the need for preparnry work given Ihe ¢omplexity of ihe project and related marters. As well as the fact that criti1 part5 of the Mansion. and the Chapel roof in particular, Continue to deteriorate and Main at risk. the Trust's ability to raise maLh funding to replace the £ 144.000 spent in the recent past (see lasi year's Accounts}, and to support a major cons¢rvation 8fdnt is constrained by Ihe need ¢0 fund day to d3y maintcnanc¢ and it5 rnore 8enerdl operations. In this context, Ihe grant from SDC of £12,000 remains vitsl to the Mansion's annual income. It was awarded for three years of which 2024 ts the third. A new Counctl will be elected in May 2024, so there is a possibility of a different view being taken aul our grdnL whith. if redueed, would put the Mansion at risk. More generally. trustees mOnir the Trust's financial prfOlance by a running monthly cash projection backed up by six monthly management aUnts in June and December. It is considered that quarterly accounts are unnecessary bccause of the big difference financially between the open sea50n and the closed season. Financial Review, Fundraising *nd Reserves Polity The fund raising summarised here has been desuibed trtviously: SDC:s annual grdnt, and extra grant in 2022 to fund the north ran8¢ feasibility Study" the Charles Skey Charitable Trust for the £22.500 grant towards the new entrance and shop fittings; Ecclesiastical Insuranee (now known as the Benefact Group) for £ 1.000 which we earmarked for part of the entrance. Naturnl England for the grant for the bats. Steps to Susthinability for membership enhancement and £1.196 for extra bat ddeetors. We thank all these organisations for supporting the Mansion. A5 can be seen from these accounts, the Trusi is financially sound. Income was similar to 2022. although the truste¢s are always seeking new OPrtunitieS to increase il. We decided several y¢ars ago to keep a reserve of six months, annual expenditure, £65k being the equivalent level of rcsmies at ihat time. This amount is still held. even though six months, expenditure ha5 now incre&sed to amund £75k. The arxounts show a somewhat rosier picture than the reality because. as ofthe 3 1st December 2023 there were slill several months of the closed season, when in¢J)me is low. to come. We also need to have the Start-up costs for the coming open Season. and enough to o)ver the first few weeks before the income streams begin to flow again. A further factor is that after a grant is awarded there is often expenditure incurred before the money a1Ve$, so we need to keep enough to cover that contingency.
DocuSvJn Envelope D." 9116B4D1-7C68489M2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 TRUSTEES. REPORT (eon¢iTrutd) FiD*ncial Review. FundrAlsing and Rtstrves Polity (coulinued) Our Business Plan, which we update regularly, sets out the principles we follow when deciding how best to deploy our resources. We were surprised io hear that our Independeni Examiner. Godfrey Wi150n. was giving up its smaller clients such as the WMT to concentraie on audits because of a shortage of staff. It would have been gix)d practice to look around soon anyway after several years with Godfrey Wilson. We had discussions with three other firms, and apw)inted Hatlewoods. We would like to thank Godfrey Wilson for their five-ycar tenure &$ our indcpcndeni examiners. Independent Examlners Hazlewoods LLP were apryiinted &5 independent examiners to the gftp and parent charity for the year ended 31 De¢crnber 2023. Small Company Exemptions This report has been prepared in accordance with the special PTovisions for small companies under Part 15 of the Companies Act 2¢J)6. CUy)dL 8/7/2024 Rhiannon Wigzell Chair Date 10
DOsIgn Envelope ID.. 911684D1.7C684895-A2F&25191941 E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 STATEMENT OF TRusfEES' RESPONSIBILITIES The Trnstees (who are aly) directors of the djarity for the purFK)ses of company law) are resp)nsible for preparing a Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. including Financial Rertiftg Standard 102: The Financtal Rewrting SLdard applicable in th¢ UK and Republi¢ of Ireland (United Kingdom G¢nerally Accepted Accounting Practice). The Trustees to prepare financTal ststements for each financial year, which give a true and fair view of the slate of affairs of the Charity and the gftp, and the incDming resources and application of re50ur¢es. including th¢ net income or expenditure.ofthecharity and thegroup for the year. In preparing those financial statements the trustees are required to: Select suitable accounling Folicies and then apply them consist¢nily' Observe methods and principles in the Charities SOIiP (Accounting and RerK)rting by Charities- Statemeni of Recommended Practice)" Make judgements and estimates that are reasonable and prudenL State whether applicabl¢ accounting standards and statements of recommertd¢d practice have been followed. subject to any malerial departures disclosed and explained in the financial statements: Prepare the financial staternenL8 on the going concern basis, unless it is inappropriate io presume that the Charity will continue in operation. The Trustees have overnll responsibility for ensuring that the o)mpany has an appmpriate system of L¥)ntrols. financial and otherwise. They are also reswnsible for ke¢pin8 proper accounting rewrd5. whi¢h disclose wilh re¥onable accuracy at any time ihe financial )sItIon of the company and enable them lo ensure that the financial slalements comply with the Cornpanies Act 2006. They are also resFK)nsible for safeguarding the assets of the company and hence for the tsking reasonable steps for the prevention and detection of fraud and other irregularities.
Docusign Envelope ID.. 911684D1-7C684895-A2F>25191941E102 Woodchester Mansion Trnst Limited For the year ended 31 December 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOODCHESTER MANSION TRUST LIMITED I report on the consolidaied financial statements of Woodchestef Mansion Tnjst Limited for Ihe year ended 31 December 2023. which comprise ihe statcm¢nt of financial aclivities, the balance sheet and related notes. These financial statements have been prepared under the historical cost convention and the accountin8 )licies set out therein. R¢spectiv¢ responsibilities of Trustees and Examiner As the Charity's Trustees of the Company (who are also the Directors of the company for the purposes of ¢ompany law). you are reswnsible for the preparation of the financial statements in accordance with the requirements ol the Companies Act 2006 ('thc 2006 Act") and the Charities Act 2011 ("the 2011 Act"). Having satisfied myself that the financial ststements of the Company are noi required to be audiled for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respe¢t of my examination of your Charity's financial statements as carried out under section 145 of ihe 201 l Act. In Carrying out my examinaiion, I have followed the Directionsgiven by the Charity Commission (under section 145{5Xb) of the 2011 Act). Independent Ex#miDer'$ Statement I have completed my examination. I confirni that no material matters have com¢ to my attention in connection with the examination which gives rne cause to believe that, in any material respect.. The accounling records were not kept in accordance with section 386 of the Companies Act the financial statements do not acwrd with 5u¢h records" or th¢ financial staternents do noi comply wilh relevant accounting requirements under scction 396 of the Companies Act 2006 other than any requirement tha¢ th¢ finan¢ial siatunents give a 'true and fair, view which is not a Matter Considered as part of an independent examination. or the financial statements have noi ken prepared in accordance with the methods and principles of the Charities SOIiP (FRS102). I have considered the disclosures madc in Noie 2 the finan¢ial Sta*Men with regards to the Charity's ability to continue as a 8oing concern. 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 understsndin8 of ihe financial statements to be reached. 0910712024 Scott Lawreace FCA. DChA Date For and on beh4lf of H¥zlwwoods LLP 12
Docuslgn Erbvelope 10.. 911684D1-7C88489&A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 CONSOLIDATED STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 DECEMBER 2023 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND sfATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unrestrie¢ed Funds Res¢ricted Funds Totsl 2023 Not¢ Income and Endowments from: Donations and legacies Charitable activities Other trading aclivi¢ies Interest receivable Total Income 12.170 47,430 90.252 12,170 78.910 90,252 2.447 183 779 31,480 152299 Expenditure on: Raising Funds Charitable activities 29.589 113971 29,S89 146081 Total Expenditure 143 60 176,470 Net movement in funds 20 09 Total funds brought fornard 20 149452 204J74 Total funds Carried forward 20 158 191 Unrestri¢ted Fvnds Restricted Fvnds Total 2022 Nole Income and EodowmeDts from.. Donations and legacies Charitable activities Other fddin8 activities Interest receivable Total Income 12.905 48,520 95.727 65 157217 12905 134,735 95,727 65 32 86,215 243 Expenditure on: Raising Funds Charitable activities 37.063 153 748 37,063 319J84 165 636 Total Eipendlture 165 636 356,447 Net movcmeni in funds 20 113 15 Total funds brought fonv*rd 20 134 343 317J89 Total funds farried fonvard 20 149.452 54,922 204J74 All of the Charity's aciivities derive from eoniinuing operntions during the above two periods. 13
Docusign Envelope ID.. 91168401-7C684895-A2F&25191941E102 Woodehester Mansion Trust Limited For the year ended 31 December 2023 BALANCE SHEET AS AT 31 DECEMBER 2023 Th¢ Group 2023 The Group 2022 The Charity 2023 The Charity 2022 Note5 Flxed assets Tangible assets Heritage assets Investments 20.881 23,273 20,881 22,896 12 13 20.881 23.273 20,882 22,897 Current assets Stocks Debtors Cash at bank and in hand 1.726 10,698 190.256 202,680 2,119 8,640 186.659 197,418 ,726 27.911 168,646 198,283 2.119 16.330 174.141 192.5 16 Liobilities Creditors.. amounts falling due within one year 17 11,878 16.317 7,482 11.490 N¢t ¢urrent *55ets Net 4ssets 204 374 211683 Funds of the Charity Restricted Funds Unrestricted funds: Designated funds General funds 20 53.492 54,922 53,492 54,922 20 20 8,500 149691 8,500 140 952 8.500 8.500 140 575 Tolal cbarity funds 211.683 204.374 211683 203 997 The charitable company is exempt from audit under the Companies Aci 2(K)6. s. 477 (small wmpanies): The members have not required the charitable company to obtain an audit of its financial 51atements for the year in question in accordance with the Companic5 Aet 2¢. S 476. and The directors acknowledge their resp)nsibilities for complying with the requirements of Companies Act 2006 with r¢spe¢t to acwuntin8 reLx)rds and the pteparntion of financial statements. The financial ststemcnts on pages 13 to 26 were approvoj by the Trustees, and authorised for issue on 8/7/2024 . and signed on their tthalf by: Rhiannon Wi8ztll Chair of Trust¢¢s 14
Clocustgn Envelope ID.. 91168401-7C684895-h2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Company limited by guarnnttt WIM)dchester Mansion TTUSt Limited is a company limited by guardnlee and accordingly thKs not have a share capital. Every mernber of the company undertakes to contribute such amount as may be required not exceeding £1 to the asseLS of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or the ceases to be a member. Accounting polieies Summory of 51zDifKant ac¢oun¢ing politles and key •¢tountine esilmgtes The principal accounting policies applied in the preparation of these financial statemenls are set out below. These policies have been consistently applied to all the y&ors presenied. unless otherwise stated. Stat¢m¢nt of tompli•n¢¢ The financial stalements have been prepared in accordance with Acwunting and Reportin8 by chariti¢5.' Ststement of Recommended Practice applicable to chariiies preparing their financial statements in accordance with the Financial Reporting Standard appli¢abl¢ in the UK and Republic of Ireland (FRS 102) (effective l January 2019) (Charities SORP (FRS 102)). the Financial R¢w)rting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Compani¢5 Aa 2(M)6. Basis of preparation Wood¢hester Mansion Trust Limited meets the definition of a publi¢ benefit entity under FRS 102. Assets and liabilities are initially recognised at hISrI1 $t or transaction value unltss othenvise stated in the relevant accounting policy no*s. Basis of consolidation These financial stsiements consolidate the results of the charitable company and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the charitable company and ils subsidiary have been ¢limin8ted from the consolidated financial slatements. Balan5 between the two companies are disc105ed in the notes of ihe djaritable cornpany'5 balance sheet. A separate statement of financial activitie5. or income and expenditure accounL for ihe ¢haritable company itself is not present because the charitable eompany has taken advantage of the exemptions affordd by section 408 of the Companies Act 2006. Going concern The financial ststem¢nts have been prepared on ihe assumption ihat the charity is able to continue as a going concern, which the trustees consider appropriatc having regard to the current level of unrestricted reserves. There are no material un¢ertainties alxjut the charity's abiliry to continue as a going concern. albeit recogni5ing the Mansion's viability in the long terni can only be assured by the supwrt of major grant giving organisations and )nations. Exemp¢ioD from preparing a ¢•sh flow $¢•lemeDt The Charity h&8 laken advantage of the exemption in section 398 of the Companies Act 2006 from the requirema)t to prepare consolidated financial ststements. on the grounds that it is a small sized group. Incom¢ Income is recognised when the eharity h&% entitlement to the funds, any perfomance conditions attached to the item(s) of income have been me¢ it is probable that the income will be received and the amount can be measured reliably and is not deferred. Jn¢ome from other trading activit1 Is recognis¢d when the 8¢$ or Servi are delivered. Income in advanc¢ of provision of scrvices is deferred until ¢riteria for income recogniiion are met. 15
Docuslgn Envelo ID.. 91166401-7C68489&A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlture and irrecoverable VAT Expenditure is recognised once there 15 a1¢8al or constructive obligation to rnake a payment to a third party, it is probable ihat settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost againsi the &tivity for which the expenditure was incurred. Fund Accounting Unrestricted fund5 arc available to spend on aclivitics Ihat furth¢r any of the purwses of the charity. Desi8natcd funds are unrestricted funds of the charity which the trustees have decided ai their discretion to set &side to use for a specific purpose. Restricted funds are donations which the donor specified are to be solely used for particular ar of the charity's work or for specific projects being undertaken by the clwity. CovernAnce costs These include the costs attributable to the Chariry's complianL% wilh Consiitutional and statUry requirements, including audiL thtegic management and trustres. meetings and reimbursed expenses. Taxation The Charity is ¢onsidered to p&$$ the tests set oul in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK COTra110n tax pUryse$. Accordingly, the Charity is Fx)tentially exempt from taxation in resp¢¢t of income or capital gains received within categories covered by Chapter 3 Part I l of the CorFKJfdtion Tax Aa 2010 or Section 256 of the T&xation of Chargeable Gains Act 1992, lo the extent that suth income or 83ins are applied ex¢lu5iv¢ly to charitable purwses. Tangible fixed assets Individual fixed assets c05ting £1.500 or more are initially recorded at cosL less any subsequent accumulated depreciation and subsequent accumulated impainnent losses. Depreclatlon and mortlsa¢ioD Deprecialion is provided on langible fixed assets so as to wri off the cost or valuation, less any estimated residual value, over their expected usefijl economic life as follows: Asse¢ class New building Plant and maehinay Motor vehicles Depreciation method and rate Strdighi line over 3-10 years 250/0 reducing balance 25% straighi line Heritagt as$tts Mansion refurbishment is classified as a heritage asset (notr 12). Heritage &ssets are valued ai historic cost, or valuation if donaied. Depreciation is charged on heritsge assets at 4•/0 on cost. They are periodically reviewed for impaiment. with any necessary impaim)ent losses being taken to the statement of financial a¢tivities. For heritsge 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. Investments Current asset investments are included ai ¢h¢ low¢r of c05t and n¢t Tealisabl¢ valuelmarket value. Stotk Stock is included at the lower of cost or net realisable value. DOnad items of stock are recognised at fair value which is the amount ihe Charity would have been willing to pay for the ilems on the open market. 16
l)ocuSign Envelopg 10.. 911684DI-7C68489&A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Debtors Trade and other debtors are recognised at the 5ettl¢rnent amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts duc. Ca$h At bank and In hand C&sh at bank and cash in hand includes cash and sIrt lemi highly liquid investhients with a short ma¢urity of three months or less from the date of a¢quisition or opening of the deposit or similar ac¢ount. Creditors Creditors and provisions are recognis¢d where the charity has a present obli8ation resulting from a past event that will probably result in the iransfer of funds to a third party and the amount due to settle the obliglon can be measured or estimated reliably. Creditors and provisions are nornially recognised at their settlement amount after allowing for any trade discounts due. Financial instrnments Classification Financial assets and financial liabilities are recognised when the Charity becomes a party to the eontraciual provisions of the instrumenl. Financi liabilities and equity tnsiruments are classified according to the substance of the contractual arrangements entered into. An equity instrnment is any contract ihat evidences a residual interest in the ats of the Charity after deducting all of its liabilities. RetognitlOD and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs). except for those financial a55cts classified as at fair value through profit or los4 which are initially measured at fair value (which is nornially the transaction price excludin8 transaclion c05ts). unless the arrangement constilules a financing transaction. If an arrangement conslitutes a financing trnnsaction. the financial &8set or financial liability is measured at the present value of the future payments discoun*d at a market rnte of interest for a similar debt instrumenL Financial assets and liabilities are only offset in the balance sheet when. and only when there exists a legally enforceable right lo sel off the recognised amounts and the Charity intends either to settle on a nei basis, or to realise the &8set and settle the liability simultaneously. Financial as5¢¢5 are dereco8nised when and only when a) the contractual rights to the cash flows from the financial assd expire or ar¢ settled. b) the Charity trJnsf¢r5 to another party substsntially all of the risks and rewards of ownership of the financial asseL or c) the Charity, despile having retained some, but not all. 5ignifi¢ant risks and rewards of ownership, has transferred control of the asset to anoth¢r party. Financial liabilities ar¢ dereco8nised only when the obligation specified in the contrnct is discharged, cancelled or expires. 17
Docusun ElOpe ID.. 911684D1_7C6B4B95-A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 3. Ineome from donations aDd legacies Unrestricted Funds Re51ricted Funds Total 2023 Total 2022 Donations Gift aid 11,054 11,054 1.274 12.905 All income frorn donations and legacies in 2022 was unrestricted. 4. Income from Charitable activities Unr¢stricttd Funds Restritted Funds Total 2023 Total 2022 Grants Tickets and educational activities 12,000 31.480 43,480 103,763 134.735 Of the income received in 2022, £48,520 was unrestTiCted funds and £86.215 was rcstricied funds. S. Government grants The charitable company receive5 govemrncnt grants. defincd as funding from Siroud District Council to fund charitable activilies. The tal value of such grants in the period ending 31 Dcccmbcr 2023 was £12.000 (2022: £62.0) from Stroud District Council. Thue are no unfulfilled Conditions or contingencies atraching to these grants in 2023. 6. Income from other trading activltles Unre5tri¢ted R¢stritted 2023 Totsl 2022 Total Tea room income Shop sales Photoshoots and filming Paranomial events Oiher events Rental income Totsl 8.067 17,333 6.641 28,055 25.056 8,067 17.333 6.641 28,055 25.056 7,025 17.700 16.685 30.793 18.424 5.100 95.727 90.252 90.252 All income from other tradin8 activities in 2022 was unrestricted 18
Docusign Envelope 10.. 911684D1-7C684895A2F5-25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Total expenditure Raising funds ChArlt2blt attivities 2023 Tolal 2022 Total Café, events and fundrnising Proj¢¢t costs Conservation costs 27.061 27.061 10,240 30.822 30,315 7.140 213,565 10,240 30,822 Supporl and80vernae costs.. Insurance Mansion running and maintenance Costs oirice COSLS Professional f¢¢s Vehicle costs Staff costs (Note 9) Bank charges Depreciation and loss on disFK)sal Irrecoverable VAT Bad debi provision Total 2.319 22,585 8.926 10.928 2,957 45.054 234 12.816 2,319 22.585 9,315 12,573 2,957 45,054 350 13,194 1.880 18,781 6.028 15,685 4.004 40.079 360 17,802 ,069 261 356 447 389 1,645 116 378 176470 Of the expendire in 2023, £143,560 wds unrestricted funds and £32910 was re5tricta funds. Of the expendibjre in 2022, £190,811 was unstrIcted fun and £165,636 was restricted funds. N¢t ineoming resources Net in¢oming resources for ihe year is stated after charging: 2023 2022 Dep¢latIon of fixed assets Independent Examiner's ftt 13,194 17.802 Staff costs The ag8ftgate payroll Costs were &$ follows: 2023 2022 Salaries and wages Pension costs 43,467 39,407 672 40.079 19
CK+cuSlgn Envelope ID.. 91168401-7C68489&A2F>25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 I¥OTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Staff costs (¢ontinu¢d) No employees received emoluments of more than £60,000 (2022.. none) during the year. The average number of employffs in the year. calculated on the basis of full-time equivalents, was as follow5.. The aggregate payroll costs wcre as follows: 2023 2022 Salaries and wages Pension costs 43,467 1.587 45.054 39.407 672 No employees received emoluments of MO than £60,000 (2022: none) during the year. The average numlxrof employees in the year, calculated on the basisof full-time equivalents. was &s follows: 2023 Number 2022 Number Average number of employees (head count) During the year, no Ttvstees (2022". none) received reimbursed expenses from the charity. No Trustee5 have receivd any other remuneration or benefits from the Charity during the year (2022: none). 10. Taxation The Charity is exempt from o)rporation tax as all its income is charitable and is applied for charitable purposes. The charity's subsidiary, Woodchestw Mansion Trading Limited. gifi aids its available trading profils to the charity. There was no profil retained by Woodches*r Mansion Tradin8 Limited that was chargeable to cony)rntion tax in the current or prior year. 20
Do¢uS4n Envelope 10." 911684D1-7C68489&A2F&25191941 E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 I l. Tangible fixed assets Plant and machiDery Motor vehldes Group New building Total Cost: At l January 2023 Additions Disposals At 31 December 2023 29.907 28,721 807 6,595 9,995 65,223 10,802 29.907 16.590 Depreciation: Al l January 2023 Charge for year On disposals At 31 December 2023 14,736 8.526 21.453 1.958 5,761 2,710 41.950 13,194 23262 8.471 Net Book Value= At 31 December 2023 6,645 8,119 At 31 December 2022 15.171 7268 834 23,273 Charity Planl and machinery Motor vehieles New buildithg Total Cost: At l January 2023 Additions DistM)sals At 31 December 2023 29,907 27.036 807 3.597 9,995 60.540 10,802 29.907 13.592 Depreciation.. At l January 2023 Charge for year On disposals At 31 December 2023 14.735 8.527 19,768 1958 3,141 2,332 37,644 12,817 Net Book Value= At 31 Dec£mber 2023 6.645 At 31 December 2022 15,172 7268 456 22,896 21
Docu*n Envelope ID.. 911684D1-7C884895-A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Heritage assets M#n$ion Cos¢ At l January 2023 and 31 December 2023 1 179 163 Depretlatlon and Impalrment At l January 2023 and 31 December 2023 179 163 Net book value At 31 December 2023 At 31 December 2022 13. Investments The group The tharlty 2023 2022 2023 2022 Investment in subsidiary company 14. Subsidiary undertakings Woodchester Mansion Trading Limiled is the trading aTm ofthecharity, of which Woodchester Mansion Trust Limiicd is the sol¢ shareholder. 2023 2022 Turnover Cost of sales Gross profit Administration expthses Operating profit Other interest receivable and similar income Profit on ordinary activities before taxation Profit for the financial year after tuation 59,402 14.010 45.392 2.527 42.865 519 65.502 54.755 48,121 48.121 2023 2022 Totsl retained earnings brought forward Totsl wmprehensivc in¢ome for the year Gift aid distribution to parent charity To¢al retained earDings carried forward 377 43,384 1,406 48.121 377 22
DovJSt9n Envelope 10.. 91168401-7C6&4895-A2F&25191941 E102 Woodchester M2n$ion Trust Limited For the year ended 31 Deeember 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Subsidiary undertakings (Continued) 2023 2022 The aggregate of the assets, liabilities and funds w&s: Assets Liabilities Funds 21.610 12,894 378 IS. Stock 2023 2022 2023 2022 Finished goods 726 16. Debtors The troup 2023 The charity 2023 2022 2022 Trade debwrs Amounts owed by group undertakings Prepaymen Other debtors VAT receivable 4,626 4,626 17.213 2.81x1 2.470 802 27.911 7,690 2.763 4.736 2,800 2.470 802 10,698 2.763 4.736 16,330 17. Creditors The group 2023 The th#rity 2023 2022 2022 Trade creditors Other taxation and social security Accruals Deferred income VAT payable Other crediiors 2.528 730 5,806 2,745 4243 474 6,110 4,900 558 32 2,528 730 4224 4243 474 4,610 1,605 558 69 23
Docuslgn Envelope ID.. 911684D1_7C68489&A2F&25191941 E102 Woodchester Mansion Trust Limited For the year ended 31 December 21123 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Deferred income The group 2023 The Charity 2023 2022 2022 At l January 2023 Deferred during th¢ ycar Relwed during the year At 31 December 2023 4.900 2.745 9272 1.605 925 1,605 925 ,605 72 .605 2,745 Deferred income in 2023 relates io income received in advance of dclivcry of Services. Deferred incorne in 2022 also includes rent for January 2023 ffceived before ye2r-end. 19. Analysis of group nel assets between fund5 Restricted funds Deslgnted Funds General Funds Total funds Tangible fixed assets Current assets Current liabilities Net wets at 31 December 2023 20,881 140.688 20,881 202,680 53,492 8,500 53,492 8,500 149691 211683 Prior year comparntive Restrieted funds Designted Funds General Funds Total fund$ Tangible fixed assets Current assets Current liabilities Net assets at 31 December 2022 23,273 133.996 16.317 140.952 23.273 197.418 54,922 8500 204,374 24
Docusign Envelope ID.. 911684D1-7C68489&A2F&25191941E102 Woodchester Mansion Trust Limited For the year ended 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 20. Movements in funds A131 D¢¢ember 2023 At l January 2023 Exptndlture Restrieted funds HHF - South Range Roof Stroud District Council Charles Skey Naturdl England Sustainability Grant Totsl restrltted funds 4,922 50.000 (4,922) (24,000) (1.708) (2280) 26,0(X) 20.792 1.052 22.5(K) 3,332 Unrestritted funds Designated ndS.. Mansion conservation fund Totsl designated fun(ts General funds Total unrestrieted fund$ 8.500 140 952 149 452 8,500 149 691 158 191 143 60 143 560 Total funds 183 779 176470 211683 Purposes of reslric¢ed funds Historic Hoyse5 Foundation (HHF) - Sfyuth Range Roof: This relates to funds recetved for conservation repairs to part of the south range roof and a window. Stroud District Couneil: This relates to funds received towards a feasibility Study and initial works on conversion of parts of the North Ran8¢. Charles Skey.. Funds were advanced for cnhancemen¢S io the front door, entrance hall and the retail shop fittings. Natyral Engl4nd: An annual grant for 5 years as a eontribution to the heating costs of the bat roosts and for supervision by a bat specialist. Sustainability Grant: Funds for bat monitors and enhancing membership promotion. P¥rpow of d¢signgted funds Mgnsion Conservitioll Fund: The purpose of the designated reserve is to identify essential expenditure anticipated over the nexi two io three years, for which the trustee5 have made provision. This refle¢ts the imperative of conserving the Mansion in the short terni, albeit as part of thc lon8-trnn conservalion plan, and without which the Mansion would deteriorate to the detriment of its ultirna cA)nser4ation. 25
Docuslgn EnNtlope ID.. 911684D1-7C684895-A2F&25191941 E102 Woodchester Mansion Trust Limited For the year eDded 31 December 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 20. Movements im funds {continued) Prior year eompantives At31 Dttember 2022 At I JAttuary 2022 Income Expenditu R¢s¢rlcted funds HHF - North Range Roof HHF - South Range Roof Stroud District Council Total restricted funds 11.922 122,421 (11,922) (153,714) 36215 4,922 134 343 15 165636 Unrestricted funds Designated funds: Mansion conservation fund Total designated funds General funds Total unrestritted fwnds 126.740 157,217 157.217 {143.005) 190 811 140.952 149 452 Total funds 317 389 243 432 356 447 204 374 2]. Related Party Transaetions Wiy)dchest¢r Mansion Trust Limited has a wholly owned subsidiary, Woodchester Mansion Trdding Limi¢¢d. a ¢ompany limiied by shares (company no. 10335636). At 31 December 2023, Wo)dchcster Mansion Trus¢ LiMid OV4es £nil (2023: £nil) from Woodchester Mansion Trading Limil¢d. As * 31 December 2023, Woodchester Mansion Trust Limited is owed £17213 (2022. £7.690) from Woodehester Mansion Trading Limited. 26