REGISTERED COMPANY NUMBER: 03914029 (England and Wales)

REGISTERED CHARITY NUMBER: 1079947

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE POLTIMORE HOUSE TRUST

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

14

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Purpose of the charity

The formal Object of the Poltimore House Trust is "To preserve for the benefit of the people of Devon and

the nation at large the building of special architectural and historic interest known as Poltimore House, and

its grounds and adjoining land forming part of the estate."

One of the great historic estates of Devon, Poltimore is listed by Historic England as Grade 2* and included

in the Buildings at Risk register. After the end of its use for various health-related purposes around 1980, the

House fell into disrepair and was subject to vandalism. It was saved from further decay by the formation of

the Poltimore House Trust.

Following the BBC Restoration programme in 2003, it attracted a large following of loyal Friends who formed

a separate charity (The Friends of Poltimore House) to support the work of the Trust. The ‘Friends’

undertook much to help the Trust in raising the profile of Poltimore House, bringing visitors to the House and

Grounds, and raising funds. To ensure a more strategic and integrated approach to achieving key objectives,

these activities have now been incorporated within the Trust, and the Friends of Poltimore House will shortly

be wound up as a separate charity. The Board of Poltimore House Trust expresses its deep gratitude to the

Friends, and will ensure that its legacy and work continue.

Poltimore House has always attracted significant numbers of visitors including under the National Heritage

Open Days banner, and a diverse range of other arts and community events. The creation of Branches Café,

now operated as a separate company (Poltimore House Branches Café Limited), has significantly increased

visitor numbers as well as providing a sustainable source of income for the Trust.

For several years the Grounds hosted projects to help disadvantaged people rebuild their lives, including

major Public Heath funded projects. There is scope for further expansion of such community and therapeutic

uses in the House and Grounds.

Public benefit

The Trustees believe that through work such as that outlined above, they carry out the Objects of the charity for the public benefit. In making decisions they have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

ACHIEVEMENT AND PERFORMANCE

Summary of the achievements

Poltimore House and Grounds are situated on the North side of Exeter, approximately 4 miles from the city

centre and within the Clyst Valley Regional Park. Poltimore House is included in the Buildings at Risk

Register.

During the financial year 01/04/2024 to 31/03/2025 Poltimore House Trust continued to expand opportunities

for public access through an increasingly successful events programme and the growing popularity of

Branches Café This has led to a steady growth both in visitor numbers and in income growth. The site is also

being actively marketed as a venue for private events as part of the Trust’s business plan. In their verdant

setting, the House and Grounds have become a cultural, recreational and wellbeing hub for local

communities, especially the rapidly growing residential developments in Westclyst, Pinhoe and Cranbrook.

A serious arson attack in April 2024 caused major damage to the structure of the House. Fortunately much

of architectural and historic importance remains, and the Trust is working to protect the remaining structure

and to develop a roadmap for its future as a focal point for communities, education, wellbeing, creative

businesses and the arts. This will be linked to a business plan to ensure financial sustainability, and provides

a focus for continuing dialogue with funding bodies and other stakeholders including East Devon District

Council and Historic England.

Strategic objectives for the Grounds include enhanced biodiversity and visitor experience as well as the

restoration of key historic features. A strong maintenance programme has been continued, and the volunteer

team continues to grow with new members being recruited with a variety of relevant skills.

FINANCIAL REVIEW

Finance and governance

Trustees have overall responsibility for the financial management of the organisation. The Trust itself continues to strengthen its skills base and has made several new appointments under the continued leadership of its Chair (Dr Peter Totterdill).

The Finance and General Purposes Committee has continued to operate, providing Trustees with effective governance and assurance of financial probity.

The Trust benefited from private donations and legacies during the year, as well as enhanced visitor revenue from the Café and events. It is also supported by additional funds raised by The Friends of Poltimore House.

Expenditure is constantly under review to ensure sufficient funds are available to deliver regular maintenance and targeted improvements, as well as discharging the Trust's other responsibilities. Having considered the financial situation, the Trustees have reasonable grounds to expect that the charity will continue operating as normal for the foreseeable future and be able to meet its obligations as they fall due.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Poltimore House Trust is controlled by its Memorandum and Articles of Association, and constitutes a Company Limited by Guarantee as defined by the Companies Act 2006.

The Trustees, who are also directors of the Charity for the purpose of the Companies Act 2006, present their report and financial statement for the year ended 31st March 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice as applied to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) applicable in the UK and Republic of Ireland (effective 1January 2015).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03914029 (England and Wales)

Registered Charity number

1079947

Registered office

Poltimore House

Poltimore

Exeter

Devon

EX4 0AU

Trustees

Professor P J Totterdill Director

Ms R J Exton

Mrs A V Brett-Schneider Communications / P R Professional (resigned 9/2/2025)

N Bishop Heritage Director (resigned 19/5/2025)

D J Snell Company Director

R A Barton Project Manager (resigned 17/11/2024)

A F Alder-Westlake Director (resigned 26/2/2025)

M R Neville-Smith Certified Accountant (appointed 17/11/2024)

Mrs V E R A Hale Lecturer In Design (appointed 16/12/2024) (resigned 15/9/2025)

Independent Examiner

Withers Steele Chartered Accountants

6 Oaklands Court

TIVERTON

Devon

EX16 6TG

Approved by order of the board of trustees on 17 November 2025 and signed on its behalf by:

Professor P J Totterdill - Trustee

Independent examiner's report to the trustees of The Poltimore House Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's 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.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; 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)).

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.

William Withers & Co. Ltd

Withers Steele Chartered Accountants

6 Oaklands Court

TIVERTON

Devon

EX16 6TG

8 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

IRF Fund

funds

funds

Notes

£

£

£

£

£

INCOME AND

ENDOWMENTS FROM

Donations and legacies

118,188

-

-

118,188

28,398

Other trading activities

2

(1

)

-

-

(1

)

21,291

Investment income

3

53

-

-

53

-

Total

118,240

-

-

118,240

49,689

EXPENDITURE ON

Raising funds

4

88,314

954

2,221

91,489

43,798

Charitable activities

Charitable Activities

-

-

-

-

32,982

Other

-

-

-

-

3,416

Total

88,314

954

2,221

91,489

80,196

NET INCOME/(EXPENDITURE)

29,926

(954

)

(2,221

)

26,751

(30,507

)

Other recognised

gains/(losses)

Gains/(losses) on revaluation of fixed assets

(37

)

(4,735

)

-

(4,772

)

-

Net movement in funds

29,889

(5,689

)

(2,221

)

21,979

(30,507

)

RECONCILIATION OF

FUNDS

Total funds brought forward

68,334

73,984

14,807

157,125

187,632

TOTAL FUNDS CARRIED FORWARD

98,223

68,295

12,586

179,104

157,125

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

IRF Fund

funds

funds

Notes

£

£

£

£

£

FIXED ASSETS

Tangible assets

9

87,859

49,417

12,586

149,862

155,305

CURRENT ASSETS

Debtors

10

32,309

-

-

32,309

806

Cash at bank

23,987

18,878

-

42,865

42,564

56,296

18,878

-

75,174

43,370

CREDITORS

Amounts falling due within one year

11

(18,412

)

-

-

(18,412

)

(11,736

)

NET CURRENT ASSETS

37,884

18,878

-

56,762

31,634

TOTAL ASSETS LESS CURRENT LIABILITIES

125,743

68,295

12,586

206,624

186,939

CREDITORS

Amounts falling due after more than one year

12

(27,520

)

-

-

(27,520

)

(29,814

)

NET ASSETS

98,223

68,295

12,586

179,104

157,125

FUNDS

14

Unrestricted funds

98,223

68,334

Restricted funds

80,881

88,791

TOTAL FUNDS

179,104

157,125

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 November 2025 and were signed on its behalf by:

P J Totterdill - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2.	OTHER TRADING ACTIVITIES

31.3.25

31.3.24

£

£

Fundraising events

(1

)

21,291

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

53

-

4.	RAISING FUNDS

Raising donations and legacies

31.3.25

31.3.24

£

£

Support costs

46,110

-

Investment management costs

31.3.25

31.3.24

£

£

Property maintenance

45,379

43,798

Aggregate amounts

91,489

43,798

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Depreciation - owned assets

7,426

5,427

Minibus charges

2,258

3,492

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

7.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

10,582

-

10,582

-

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Part time staff

1

-

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

IRF Fund

funds

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

28,398

-

-

28,398

Other trading activities

21,291

-

-

21,291

Total

49,689

-

-

49,689

EXPENDITURE ON

Raising funds

38,977

-

4,821

43,798

Charitable activities

Charitable Activities

29,210

1,123

2,649

32,982

Other

3,416

-

-

3,416

Total

71,603

1,123

7,470

80,196

NET INCOME/(EXPENDITURE)

(21,914

)

(1,123

)

(7,470

)

(30,507

)

Transfers between funds

15,232

(9,280

)

(5,952

)

-

Net movement in funds

(6,682

)

(10,403

)

(13,422

)

(30,507

)

RECONCILIATION OF FUNDS

Total funds brought forward

75,016

84,386

28,230

187,632

TOTAL FUNDS CARRIED FORWARD

68,334

73,983

14,808

157,125

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2024

125,636

54,146

240,001

Additions

-

6,755

-

Revaluations

(4,772

)

-

-

At 31 March 2025

120,864

60,901

240,001

DEPRECIATION

At 1 April 2024

-

25,675

240,001

Charge for year

-

7,127

-

At 31 March 2025

-

32,802

240,001

NET BOOK VALUE

At 31 March 2025

120,864

28,099

-

At 31 March 2024

125,636

28,471

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

21,263

577

441,623

Additions

-

-

6,755

Revaluations

-

-

(4,772

)

At 31 March 2025

21,263

577

443,606

DEPRECIATION

At 1 April 2024

20,065

577

286,318

Charge for year

299

-

7,426

At 31 March 2025

20,364

577

293,744

NET BOOK VALUE

At 31 March 2025

899

-

149,862

At 31 March 2024

1,198

-

155,305

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2025

120,864

60,901

240,001

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2025

21,263

577

443,606

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

24,590

-

VAT

3,181

-

Prepayments

4,538

806

32,309

806

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 13)

2,293

2,293

Other loans (see note 13)

-

5,937

Trade creditors

11,939

1

Social security and other taxes

2,780

575

VAT

-

1,652

Accrued expenses

1,400

1,278

18,412

11,736

12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 13)

27,520

29,814

13.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year on demand:

EDDC Mortgage

2,293

2,293

AHF Loan

-

5,937

2,293

8,230

Amounts falling between one and two years:

EDDC Mortgage - 1-2 years

2,293

2,293

Amounts falling due between two and five years:

EDDC Mortgage - 2-5 years

6,880

6,880

Amounts falling due in more than five years:

Repayable by instalments:

EDDC Mortgage - 5 years plus

18,347

20,641

14.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

68,334

29,926

98,260

Revaluation reserve for Unrestricted Fund assets

-

(37

)

(37

)

68,334

29,889

98,223

Restricted funds

Saloon Fund

18,878

-

18,878

Hub Training fund

1,289

(193

)

1,096

PHE Grant

53,817

(761

)

53,056

IRF Fund

14,807

(2,221

)

12,586

Revaluation reserve for Restricted Fund assets

-

(4,735

)

(4,735

)

88,791

(7,910

)

80,881

TOTAL FUNDS

157,125

21,979

179,104

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

118,240

(88,314

)

-

29,926

Revaluation reserve for Unrestricted Fund assets

-

-

(37

)

(37

)

118,240

(88,314

)

(37

)

29,889

Restricted funds

Hub Training fund

-

(193

)

-

(193

)

PHE Grant

-

(761

)

-

(761

)

IRF Fund

-

(2,221

)

-

(2,221

)

Revaluation reserve for Restricted Fund assets

-

-

(4,735

)

(4,735

)

-

(3,175

)

(4,735

)

(7,910

)

TOTAL FUNDS

118,240

(91,489

)

(4,772

)

21,979