I was honoured to join the Garden as its Chair in early 2025. It is a privilege to join this talented leadership team and ambitious, committed board of Trustees.
I should also like to thank Chris Scott who stepped up to chair the Board for much of 2024 to 2025 and who now supports us as Vice Chair and Chair of the Executive Board.
Painswick Rococo Garden Trust, a registered charity, seeks to maintain existing levels of visitors to ensure a sustainable future. Work continues on the Garden’s restoration as we seek to broaden and diversify our visitor experience and memberships. The award in 2024 of the National Lottery Heritage Fund, a valuable investment in the future of the Garden now in year two, has enabled the further development of the community outreach programme and a comprehensive training programme to include staff and volunteers.
Events throughout the year have continued to prove well subscribed and successful. The first sign of spring began with the snowdrop spectacle. Visitor numbers were on target for this year - an improvement on the reduced visitor numbers due to the exceptionally wet spring of 2024. Three performances of “Much Ado about Nothing” by the Handlebards, “A Beautiful Thread: Thomas Hardy in Words” narrated by Anton Lesser with music by the Orchestra of the Swan plus an opera night were all well attended. The “Enchanted Garden by Night” received numerous congratulatory messages from visitors and was voted the best year to date.
Our trading arm continues to go from strength to strength showing increased profit. The café now offers a range of dishes using fruit and vegetables from the garden and the shop has extended its range of both Rococo and local retailer products. We continue to champion our partnership with Exedra Nursery, our on-site plant nursery, whose range of plants, Christmas trees and horticultural events continue to flourish.
During 2025 our Garden Director, Dominic Hamilton, moved on to pastures new as Chief Executive of Sudeley Castle. The trustees, staff and volunteers are indebted to Dominic who worked tirelessly through the not insignificant challenges of the relocation of the Garden facilities closely followed by the impact of COVID. In September 2025 we welcomed Amy Taylor, Garden Director, and look forward to supporting her work on the planned future developments of the Painswick Rococo Garden, ensuring greater access to, and the enjoyment of this unique garden.
Finally I should like express my sincere thanks to our staff, volunteers and fellow trustees for their unwavering dedication and hard work with each and everyone contributing to the success of the Painswick Rococo Garden.
The Trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Background
Painswick Rococo garden is a wonderful example of English 18th century bravado by the upper middle class of the day. Designed and laid out in the 1740's the Garden is the country's sole surviving complete rococo garden. It was the creation of the Hyett family and designed as a fashion statement amongst the well-to-do and embodied the design style of the day. Dotted with follies of different architectural styles, it is Grade II listed, containing nine Grade II listed buildings.
Sadly, the rococo fashion was short lived, and the garden entered a period of neglect until 1984 when the then owners, Lord and Lady Dickinson, embarked on a wholesale restoration. The Garden was first opened to the public in 1988 and was eventually gifted to Painswick Rococo Garden Trust by the late Lord and Lady Dickinson for its legacy to continue in perpetuity. Today, it is a key visitor attraction in Gloucestershire and is owned and managed by the Rococo Garden Trust. A glimpse into a brief but significant moment in garden history, the Garden was captured in a painting, lost, recreated and is now a quirky, fun and magical visitor experience today.
The Company is the sole shareholder of Painswick Garden Estate Limited (PGEL) which operates as the trading arm of the Company. PGEL operates the commercial activities at the Garden including the café, shop, weddings and events. All profit made by PGEL is paid up by way of dividend to support the charitable aims of Painswick Rococo Garden Trust.
The Trust's principal objectives remain to promote for the benefit of the public the preservation, maintenance and improvement of the Painswick Rococo Garden and any structures or buildings contained therein as a place of historic and ecological interest and beauty, and to advance the education of the public into the history of the Painswick Rococo Garden and natural history and into horticulture and other related fields.
Short-term, the Trust's stated aims are threefold:
- To preserve the heritage of the Garden;
- To protect our natural habitats, wildlife and plants;
- To provide a place to escape, explore and connect with nature.
To deliver these, the Trust's objectives over the coming years are:
- To further develop a resilient business model;
- To plan and deliver future conservation projects and charitable activities;
- To continue to develop long-term visitor facilities;
- To further develop our volunteers and their volunteering experience;
- To further develop the visitor experience;
- To increase outreach activity in the community;
- To develop strategic plans for the charity for the next ten years.
To achieve the objectives of the Charity the Garden is open to the public throughout the year, with opening hours varying in line with seasonal demand.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning activities.
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Following the lifting of COVID restrictions the Trust has been gradually able to reinstate pre-COVID activities and organise new events to ensure the ongoing fulfilment of its charitable objects.
a. Visitors and Numbers
Visitor numbers were above budget, finishing with 58,942 visitors having been welcomed. This was 4,342 more than the previous year and an increase of nearly 8%. March and April were record months for visitor numbers.
b. Volunteers and Staff
Enormous thanks are due to the friendly and committed team of staff and volunteers who contribute so much to the maintenance and development of the Garden. 2025 was a more settled year for the team, getting into a better rhythm in our temporary facilities.
c. Activities
The Garden generally opened seven days per week at peak times, all of the school holidays and five days per week during the core visiting season. Off-peak open days varied depending on demand. December 2025 saw, for the third year, a repeat of extended opening hours after dark as part of our very successful, ‘Enchanted Garden by Night’ Christmas trail.
d. Painswick Garden Estate Limited (PGEL)
The Café and Shop continued to provide profitable operation in the on-site visitor facilities. The shop partnered with the Exedra Nursery team and ‘Made in Painswick’ to sell Exedra Nursery’s plants and our range of Rococo Garden-branded products. The Kitchen Garden produce continued to prove a big hit with visitors and locals.
Exedra Nursery Limited continued to operate their very successful new plant nursery adjacent to the Garden in 2025 which has proved to be a very valuable and popular addition to the attractions on site.
PGEL's donation payment to the Trust at the end of 2025 was £71,397 (2024 £44,131), an increase of 62% from 2024.
Fundraising/Legacy
After undertaking several pilot community projects and following wider consultation with local stakeholders, we successfully applied for a National Lottery Heritage Fund grant to bring neurodiverse young people into the Garden to learn green skills. The £128,965 grant is also funding a project to develop the Garden’s long-term resilience. Thanks to this grant we were able to implement our community outreach initiative ‘A Chance to Grow’, which we launched during the year. The programme works with groups throughout Gloucestershire who are from one of the following groups, young with learning disabilities or neurodivergence, families who are home-educating, families in receipt of free school meals and carers and young carers. The ‘Chance to Grow’ programme is built on three strands of activity: wellbeing visits, practical green skills sessions and heritage learning days. As a result of this project in 2025 we welcomed over 1,000 people to the garden.
Following the death of Tim Toghill a former Trustee in March 2025 the Garden received a legacy of £171,305 from Tim’s estate. Tim became a volunteer at the Garden in 2014 and later joined the Board of Trustees in 2016, until his move to Devon in December 2022. Tim offered his skills as a strategist, planner, writer and speaker on the Board and behind the scenes. His strong belief was that the garden “was meant as a playful, beguiling and engaging place of enjoyment and our ethos should ensure we keep true to the ideas of its original creators”. The Board of Trustees are extremely grateful for this generous legacy.
e. Appointments, Resignations and Departures
Two members of the Board of Trustees Kate MacDuff and Margie Doble resigned during the year. The Trust appointed Debbie Grey, a long-standing friend of the Garden, to take up the role of Chair of Trustees and Jason Pearce was also appointed as a Trustee.
After 10 hugely successful years as Garden Director Dominic Hamilton stepped down. During his time as Garden Director he built a strong team of staff and volunteers. In June the Board appointed Amy Taylor as the new Garden Director of Painswick Rococo Garden.
f. Landscape and Restoration
The Garden team continued to maintain the Garden to a high standard whilst continuing to provide a considerable amount of practical and logistical support developing the Welcome Village.
One of the larger projects, the yew hedge cut back which started back in 2022 was completed by the garden team. The yew hedges are now in line with their image in the Thomas Robins painting of 1748. Planted at the beginning of the restoration of the Garden by Lady Dickinson, the yew hedges frame the vista from the Red House to the Pond and are a visually important part of the garden. Our Head Gardner created an incredible replica of the Auricular Theatre also shown in the Thomas Robins 1748 painting. Auricular theatres were a prominent part of 18th century gardens and were created to showcase the vibrant colours and patterns of Primula auricular. It is now placed outside the Bothy as a welcome sight as visitors first enter the garden. In other projects the kitchen garden pond was re-lined, the kitchen gravel path was reinstated, and the garden team started the replanting of the Exedra garden to become more resilient to climate change.
g. Events
The 2025 snowdrop season was one of the best in recent years, with lovely cold weather keeping the blooms looking stunning for an unusually long time. Our programme of events saw a return of the Plein Air Art Competition, with 56 artists taking part. The summer saw the return of Anton Lesser and the Orchestra of the Swan, and the Handlebards and proved ever popular with audiences. The summer trail, “The Disgusting Sandwich’ was a great success. Working alongside a local artist we created a more interactive event which was well received by family visitors. August bank holiday theatre’s production of Cinderella was again hugely popular. The Enchanted Garden by Night was a highlight of the year. The garden looked beautiful, illuminated and created special Christmas memories for visitors.
Income from unrestricted funds amounted to £909,561 (£589,280 in 2024) whilst unrestricted expenditure was £624,573 (£588,488 in 2024). Following a transfer between funds of £700, this led to an unrestricted net income of £284,288 (net loss of £5,908 in 2024).
The Trustees remain grateful as ever to the many organisations and individuals who have generously supported us this year.
The Trustees are fully aware of their duty to assess the charity's going concern status and have attended to this with particular care in consideration of the current economic outlook and of the Rococo Garden's particular circumstances.
The Trustees have prepared and regularly review the charity's forecasts and projections and have taken into account possible changes in operating performance by considering all reasonable scenarios and the current funding position. The relocation of the charity's operations from the Coach House to the Welcome Village has now been completed. Ongoing improvements continue as funding allows, which will involve capital expenditure. The Trustees have taken these changes and associated costs into account when preparing and reviewing the forecasts.
The Trustees have concluded that the charity has adequate resources to meet its liabilities and the financial statements have been prepared accordingly on a going concern basis.
All surplus income of the Trust (and its subsidiary Painswick Garden Estate Ltd - PGEL) should ultimately be invested in furthering the Trust's charitable objectives. However, the Trust endeavours to retain sufficient reserves of cash to ensure that it minimizes the risk of insolvency as a result of significant one-off commitments, bad weather, or prolonged closure of the Garden because of events outside the control of the Trust.
Specifically, the cash balances of the Trust should at all times be sufficient to fund a minimum of 3 months and ideally 6 months of normal operations without income. In this context 'normal operations' means paying for any costs that might reasonably be expected to arise during a period of prolonged closure, including permanent staff and servicing loans but not casual labour or significant investments.
In the longer term it is the Trust's policy to gradually accumulate a cash reserve of £500,000 which will be set aside in a non-operational bank account. It is intended that money should be allocated out of reported surpluses on a quarterly basis to build this reserve at the rate of £50,000 or more per year.
This reserve will be held to provide for significant foreseeable financial commitments, such as the requirement to fund a major capital project. It is anticipated that the Charity will build a new permanent visitor and education facility in the longer term. A secure reserve balance will assist the Trust when applying for grant and/or match funding for capital projects.
Restricted Funds should be excluded from these sums and may be retained until a suitable opportunity arises to fulfil the specific purpose for which they have been donated.
The Trustees have the power to:
- deposit or invest funds;
- employ a professional fund manager;
- arrange for the investments or other property of the charity to be held in the name of a nominee; in the same manner and subject to the same conditions as the trustees of a trust permitted to do by the Trustee Act 2000.
The Garden continues to be an important asset to the local community. We continue to review our business plans, financial and operational strategies with a focus on increasing our resilience to enable the Garden to flourish. We are developing a comprehensive business strategy for the next ten years and beyond, including identifying ways to grow the business and our financial reserves, map our future infrastructure requirements and restructure the organisation's governance. As part of this we continue review our fundraising strategy, identifying how the charity should adapt to changing donor priorities whilst continuing to effectively deliver its objects.
The company is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association dated 12 December 2004. Its registered charity number is 1107844.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The Charity may by ordinary resolution appoint a person who is willing to act to as a Trustee; and determine the rotation in which any additional Trustees are to retire.
No person other than a Trustee retiring by rotation may be appointed a Trustee at any general meeting unless:
1. he or she is recommended for re-election by the Trustees; or
2. not less than fourteen nor more than thirty-five clear days before the date of the meeting, the Charity is
given a notice that:
- is signed by a member entitled to vote at the meeting;
- states the member's intention to propose the appointment of a person as a Trustee.
- contains the details that, if the person were to be appointed, the Charity would have to file at Companies House; and
- is signed by the person who is to be proposed to show his or her willingness to be appointed.
All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight days' notice of any resolution to be put to the meeting-to appoint a Trustee other than a Trustee who is to retire by rotation.
The Trustees may appoint a person who is willing to act to be a Trustee. A Trustee appointed by a resolution of the Trustees must retire at the next annual general meeting and must not be taken into account in determining the Trustees who are to retire by rotation.
The appointment of a Trustee; whether by the Charity in general meeting or by the other Trustees, must not cause the number of Trustees to exceed any number fixed as the maximum number of Trustees.
At each annual general meeting one-third of the Trustees or, if their number is not three or a multiple of three, the number nearest to one third must retire from office. If there is only one Trustee, he or she must retire.
The Trustees to retire by rotation shall be those who have been longest in office since their last appointment. If any Trustees became or were appointed Trustees on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot.
The Board of Trustees generally meets monthly to administer the charity. The day-to-day management of the Garden is the responsibility of the Garden Director who is employed by the Trust to oversee the running of both the charity and its trading company.
Remuneration of key management personnel
The pay and remuneration of the charity's key management personnel are overseen by the Human Resources Subcommittee which benchmarks salaries with comparable organisations and works alongside the Finance Subcommittee to implement its recommendations.
Risk management
The Trustees regularly review risk. The principal concerns in 2024 were the continued risks associated with the move of visitor facilities, including the delay in securing planning approval, cost of infrastructure and impact on visitor numbers. However, the Trust has invested considerable time and effort into forward planning to mitigate the risks and minimise the financial impact.
An outdoor visitor attraction such as the Garden is particularly susceptible to environmental changes. Climate change is having a noticeable impact on the Garden, with warmer, wetter winters impacting snowdrop season and extreme weather (in particular strong winds and heavy rain) becoming more commonplace. The Trust has been exploring how to make its business model and operation more resilient, adapting to the impact of climate change and having adequate infrastructure for present and future needs, to enable the Garden to thrive. This forms part of the ongoing business plan development.
The felling of ash trees due to chalara dieback has also had a significant physical and visual impact on certain areas of the Garden though we have undertaken extensive re-planting in affected areas.
Policy Reviews
The Board reviewed and renewed its key policies and protocols in 2024.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The Trustees, who are also the directors of Painswick Rococo Garden Trust for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these 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 estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards 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 Company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Painswick Rococo Garden Trust (the Company) for the year ended 31 December 2025.
Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the Company’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 that in any material respect:
accounting records were not kept in respect of the Company as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The notes on pages 12 to 24 form part of these financial statements.
The notes on pages 12 to 24 form part of these financial statements.
The notes on pages 12 to 24 form part of these financial statements.
Painswick Rococo Garden Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Painswick Rococo Garden Trust, Gloucester Road, Painswick, Gloucestershire, GL6 6TH, England.
The financial statements have been prepared in accordance with the Company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The principal accounting policies adopted are set out below.
Preparation of consolidated financial statements
The financial statements contain information about Painswick Rococo Garden Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Donations are recognised when the Charity has been notified in writing of both the amount and the settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either these conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.
Income from legacies is recognised where evidence of entitlement exits, the value is measurable with sufficient reliability, and on the earlier of the date of receipt of finalised estate accounts or the date of payment.
Grants including government grants are recognised when the Charity is entitled to receipt. Where entitlement occurs before the income is received, the income is accrued.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 costs related to that 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, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Costs of raising funds are those incurred in attracting voluntary income and those incurred in trading activities that raise funds.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly and those costs of an indirect nature necessary to support them.
Governance costs include the costs attributable to the Charity's compliance with constitutional and statutory requirements. This includes Independent Examination, strategic management and Trustees' meetings and reimbursed expenses.
Tangible fixed assets costing £500 or more are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
The Charitable Trust was created in 2004 by the donation of the historic listed garden and listed buildings by their then owners, Lord and Lady Dickinson. These gardens have been improved and maintained since then for the benefit of our visitors. A maintenance programme for the buildings is regularly reviewed by the garden's management team to ensure that the buildings are maintained to a high standard within the financial constraints of the charity.
The value of the garden and its heritage buildings have not been capitalised in the financial statements of the charity. The original donation included a pre-emption clause which specified that if the charity were to cease operations, the garden must be offered to the late Lord Richard Dickinson or his successors to buy for £1. His sons have since agreed that in this event, the garden may first be offered to another charity which is prepared to take over the Trust and operation of the garden. Given this agreement, the Trustees have taken the view that the garden and its heritage buildings should not be capitalised as it may not have any resale value to the Charity. No valuation of the garden and the buildings was made when the Trust was set up, nor since.
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.
In the application of the Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Depreciation of tangible fixed assets is based on the Charity's judgement of their useful lives and residual values. The depreciation rates used are disclosed in the accounting policy on tangible fixed assets and the carrying value of the assets are disclosed in note 13.
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Company during the year.
There were no Trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
During the year one trustee was paid for consultancy advice on an arm's length basis to the value of £240 (2024: £1,500).
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The key management personnel of the charity is considered to be the Garden Director only.
Details of the Company's subsidiaries at 31 December 2025 are as follows:
The loan is a Coronavirus Business Interruption Loan with Lloyds Bank. It had a capital repayment holiday of 12 months and the first 12 months interest and fees were paid by the UK Government. The loan has an interest rate of 2.55% and the loan repayments started in August 2021 with the loan due to end in July 2026.
Interest rates are fixed at the contract date of the finance lease agreement and all leases are on a fixed repayment basis.
Deferred income is included in the financial statements as follows:
Deferred income at 31 December 2024 relates to entrance fees paid in advance.
The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The amount charged to the SOFA was £23,886 (2024: £22,085). An amount of £2,382 (2024: £2,392) was outstanding at the year end and is included in creditors.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Details of Restricted Funds
Crowdfunder
This was an appeal via donations towards the cost of the new visitor centre that opened in February 2023. Depreciation is being charged against the balance annually.
Heritage Lottery Fund
The NHLF grant will enable Painswick Rococo Garden to be more resilient, have suitable visitor facilities,engage with a wide range of people from our local community and have a more skilled volunteer team. It will enable the employment of new specialist staff and consult professionals with specific expertise to support a two-year project that will secure the Garden's future through professionally planned visitor facilities and business support. This will allow us to develop an engaging outreach programme which is free for participants, welcoming local community groups, including neurodivergent young people. The project will increase participants' understanding of and connection to nature through a series of wellbeing visits, practical green skills sessions and heritage learning days.
The legacy of our project will be the improved resilience of the Trust, increased wellbeing of our outreach participants, increased skills of staff and volunteers and greater awareness of the Garden's unique heritage landscape, habitats and organic horticulture.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
During the year, Ms C R Sinclair, trustee, provided consultancy advice to the value of £240 (2024: £1,500) on an arm's length basis. At the year end £nil (2024: £nil) was owed to Ms Sinclair.
There were no other related party transactions for the year ended 31 December 2025 (2024: none).