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 Charity's Articles of Association, the Companies Act 2006 and "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).
The Charity was set up in 1983 by the 10th Earl of Bessborough to preserve Stansted Park in perpetuity for the benefit of the public. The Objects of the Charity are :
The preservation and conservation for the public benefit of the buildings and their grounds and surrounding parkland, farmland and forest known as Stansted Park in the County of Sussex (hereinafter called “Stansted Park”).
The preservation for the public benefit of furniture and pictures and chattels of any description connected with Stansted Park, the Ponsonby Family or otherwise appropriate to be kept at Stansted Park.
The provision at Stansted Park or such part of it as shall be appropriate in the interests of social welfare and for the purpose of improving the conditions of life for the persons for whom the same are intended of facilities for physical recreation which will be available to members of the public at large.
The facilitation and encouragement of the use and occupation of the whole or part of Stansted Park and the use of such chattels as aforesaid for charitable educational purposes or for such other charitable purposes as the Trustees may determine.
The furtherance for the public benefit of such other purposes which are charitable under the laws of England and Wales as the Trustees think fit from time to time.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Previous years have seen significant capital expenditure directed at revenue generating and key infrastructure projects. In the short term there will be a more limited operating surplus available with which to undertake future projects.
The Charity is now in a period of financial consolidation with emphasis on rigorous control over expenditure and management of overheads.
Projects completed in 2025 included repairs to the Mansion and works to the drainage system at Middle Lodge; the installation of a Biomass Boiler and the purchases of a Tractor and Truck for the Woods & Parkland Department.
The Annual Work Programme was approved by Trustees in the budget at the beginning of the Financial Year. Management Accounts were produced by the Accounts Department through the year to enable close monitoring of income against expenditure to ensure that the Charity operated within both the approved budget and its financial resources.
The Charity continued to enjoy wide support at a local and regional level. The Friends of Stansted Park maintained their membership at around 500 members through the year and there is a strong level of volunteer support, with a regular team of 12 volunteers in the Grounds and a further 50 stewards who enable the Mansion to open through the summer months.
The Charity delivers public benefit in the following ways:-
The Mansion opens to the public at a charge through the summer months
Educational tours of the mansion and grounds
The grounds and Arboretum open to the public at no charge through the summer months
Friends of Stansted Park – as stated, an association with around 500 paid up members who enjoy organised walks, talks and outings, using the Mansion extensively
The Mansion is periodically used as a venue for local fund raising lunches and other events
The Charity supports a range of local community events
There is extensive public access to footpaths and bridleways across the estate.
It is the policy of the Charity that unrestricted funds, which have not been designated for a specific use, should be set aside to maintain the fabric of the buildings. It is also a policy of the Trustees that the minimum unrestricted reserves held (excluding fixed assets and investments) is at least £300,000.
The Charity’s policy in recent years has been to ensure that revenue is generated from a diverse range of income sources across the Estate. The Charity undertakes a range of operational activities, including forest and parkland management, and maintaining, managing and letting buildings of all types for residential and commercial use. Although much of the estate is open for the public to enjoy at no charge, visitor income is further sourced from admissions, donations, grants, and also fundraising by the Friends of Stansted Park. Through Stansted Park Events Limited, the Charity raises revenue from events and functions, weddings and corporate days, the net proceeds of which are donated by Gift Aid to the Charity.
The Trustees consider that the financial position of the Charity remains manageable.
Reserves held at the balance sheet date are £101,685,398 (2024 - £49,652,402). £1,072,520 (2024 - £684,312) held in unrestricted funds, £6,336 (2024 - £0) held in restricted funds and £100,606,542 (2024 - £48,968,090) held in endowment funds.
In the year to 31 December 2025 the Charity continued its programme of long term repair and maintenance, and improvements to the facilities for visitors.
Through the year principal sources of revenue came from rents in the Estate's residential and commercial portfolios. These are regularly reviewed.
Investments consist of managed investment portfolios (note 19) and the investment property (note 18). Income generated from listed investments increased to £42,248 (2024 - £41,028) and the overall return including revaluation gains was 8.66%. Income generated by investment properties increased by 7.6% to £1,227,407 (2024 - £1,140,592).
The Trustees receive regular reports on finance and liquidity from the Director, which are reviewed at the quarterly meetings.
The main risks to the Foundation are reviewed annually or more frequently as matters dictate. A risk register is maintained. We have exposure to a number of external factors that impact on the running of the Foundation.
The Trustees ensure that they are well briefed on such factors and generally adopt a cautious approach. Sound financial planning particularly around the maintenance of our property portfolio on the Estate and the potential for reputational risks are regularly reviewed.
Almost all businesses will continue to be affected by the rising cost of living and the Charity is no exception. The situation, particularly in regard to costs of maintenance & repairs as well as visitor numbers, remains uncertain; the Foundation remains cautious.
The situation regarding the occupation of commercial offices by small businesses remains fragile given that companies are labouring under the burden of Business Rates, increased NIERs and employment costs leading some to vacate their offices and others to wish to downsize. In order to retain full occupancy, the Foundation continues to implement a programme of office re-configuration in order to make a series of smaller commercial units which allow for reduced overheads and which fall beneath the threshold for the levying of Business Rates. The Foundation is also pursuing schemes for Biodiversity Net Gain which reduce the amount of land available for agricultural production on the Estate but which will be suitable for planting of trees and the creation of meadows which will convert into Biodiversity Units for sale to developers. The Foundation is also seeking to increase its income generation activity through a full programme of events and corporate activities using the House and Grounds to optimum effect.
Ash die back disease continues to be a concern of the Trustees, affecting our forestry operations.
The Charity is a company limited by guarantee. The governing document is the Articles of Association dated 15 May 2017. The Charity's objects are set out above.
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:
None of the Trustees has any beneficial interest in the Charity. All of the Trustees are members of Stansted Park Foundation and guarantee to contribute £1 in the event of its winding up.
When a vacancy on the Board arises a number of methods can be identified to recruit replacements both from within the family, albeit within the laid down restriction on numbers, as well as the wider community. Any such post can be advertised in order to attract suitable candidates for interview who can then be appointed on the basis of their qualifications, skills, attributes and knowledge and particular expertise required by the Board. The competencies range from charity involvement, heritage and architecture, visitor attractions, legal background, project management, financial and investment experience, governance, business and commerce including retail, rural estates, event management, land and property management and business in general.
The Trustees approved and adopted a Governance Code at the Board Meeting on 17th July 2020. This code sets out the Trustees’ acceptance of their responsibility to maintain high standards of governance, leadership, integrity, decision-making and compliance in order to achieve the Foundation’s Charitable Objects.
The Trustees together provide a combination of experience and skills appropriate for the operations of the Charity.
The Charity is administered by the Trustees who meet at least 4 times a year, but delegate their day to day management responsibilities, including the management of the assets and the general administration, to Mr D M Bennett, the Director of the Charity. The Finance Committee has been superseded by a Financial Briefing to the Chairman and select Trustees prior to each Board Meeting. This Briefing examines the Budget and the overall financial situation prior to presentation to the Board.
The remuneration for senior staff is set by reference to remuneration for comparable jobs in similar organisations. Staff are normally awarded an inflationary increase. Remuneration above that is assessed on merit following a rigorous process of staff appraisal.
Under the Articles of Association the Charity has the power to make investments to achieve the Charity's objectives in such a manner as the Trustees may decide and at the Trustees' absolute discretion.
The Charity owns two subsidiary companies: Stansted Park Events Limited is a trading company and Stansted Park Limited is dormant.
Note 29 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the Charity's obligations on a fund by fund basis.
In accordance with the requirements of the Charities SORP (FRS 102), it is considered that the carrying value of all investment and freehold property does not differ materially from their fair value at 31 December 2025.
In accordance with the company's articles, a resolution proposing that Sumer Audit be reappointed as auditor of the company will be put at a General Meeting.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of Stansted Park Foundation 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 Charity 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of Stansted Park Foundation (the ‘Charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report.
Identification and assessment of irregularities including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
· Obtaining an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations;
· Obtaining an understanding of the charity's policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud;
· Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector-specific experience.
As a result of these procedures, we considered the opportunities and incentives that may exist within the association for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: health & safety and employment law, as well as compliance with the UK Companies and Charities Acts.
In addition to the above, our procedures to respond to risks identified included the following:
· Making enquiries of management about any known or suspected instances of non-compliance with laws and regulations and fraud;
· Reviewing minutes of meetings of the board and senior management.
· Reading correspondence with regulators
· Challenging assumptions and judgements made by management in their significant accounting estimates; and
· Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.
Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Investments
Raising funds
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Investments
Raising funds
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Stansted Park Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Stansted Park, Hampshire, Rowlands Castle, PO9 6DX.
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and "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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity 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.
The trustees have the power to convert the capital endowment into expendable income. The capital is therefore an unrestricted expendable endowment rather than a permanent endowment. The proceeds of any sale, again at the discretion of the trustees, may be applied either as capital endowment, to produce an income for the purposes of the charity, or as an income applied to one or more of the charitable objects.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants receivable are credited to the Statement Of Financial Activities when the Charity is legally entitled to them after any performance conditions have been met. Grants relating to the development of investment property are posted to grants receivable for core activities (part of voluntary income). Grants relating to country and parkland restoration and Forestry Commission grants are included in forestry charitable activity. Grants relating to Renewable Heat Incentive are included in wood fuel production charitable activity.
Service charge income is shown net of recharges expenditure. This expenditure is recharged in full to the tenants and is only incurred on behalf of the tenants and is therefore not expenditure relating to the Foundation.
Income, which excludes VAT, comprises sales to third parties, rents receivable, investment income and income derived from house opening.
Liabilities are recognised when the activity giving rise to the liability has been incurred.
Expenditure is included net of VAT where applicable. Expenditure is allocated between costs of raising funds and charitable expenditure which also includes support and governance costs. Included in costs of raising funds are investment property costs, events expenditure and investment management costs. Included in charitable expenditure undertaken directly are costs relating to house and garden opening which also includes grounds and mansion expenditure, forestry and wood fuel production. Support costs re charitable activities for house and garden opening include Estate management costs. Governance costs consist of audit and accountancy fees.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Intangible assets comprise the RHI Accreditation for the Biomass Heating System. Such assets are defined as having finite useful lives and the costs are amortised on a straight line basis over their useful life of 7 years.
Intangible assets are stated at cost less amortisation and are reviewed for impairment whenever there is an indication that the carrying value may be impaired.
Tangible fixed assets 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:
No depreciation is provided on freehold buildings and heritage assets as the estimated useful life and residual values of the properties and heritage assets would render a depreciation charge immaterial.
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 net income/(expenditure) for the year.
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation and realised gains or losses on property sold are recognised in net income/(expenditure) for the year.
Heritage assets are capitalised in the year of acquisition. The measurement basis adopted for their inclusion in the accounts is the value for insurance purposes.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Investments in subsidiaries are all held at cost.
A subsidiary is an entity controlled by the Charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 balance sheet 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.
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
Rentals receivable under operating leases, including any lease incentives given, are recognised as income on a straight line basis over the term of the relevant lease.
In the application of the Charity’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.
Investment properties, Freehold properties and Heritage assets are included at fair value by reference to their market value. Professional valuations are obtained periodically. Given the nature of fair values however, there is a risk that the actual market value may differ from the estimated market value included in the financial statements.
Friends of Stansted Park subscriptions
Sales within charitable activities
Sales within charitable activities
Events licence fee
Investments
Raising funds
Other costs
Included in Investment property other costs is bank loan interest payable of £19,450 (2024 - £26,041).
Repairs and maintenance
Premises costs
Other costs
Write off of Visitor Centre Project expenses
Included in Support other costs is bank loan interest payable of £41,666 (2024 - £41,666).
None of the Trustees (or any persons connected with them) received any remuneration or expenses during the year.
During the year, the Foundation charged Aleramo Lanza, a trustee, rent of £25,998 (2024 - £16,598), electric recharges of £2,163 (2024 - £1,672) and service recharges of £1,101 (2024 - £684). Included in Trade debtors is £0 (2024 - £897) owed by A Lanza.
During the year, the Foundation charged Mrs Caroline Daniel, a trustee, rent of £23,310 (2024 - £22,940), service recharges of £170 (2024 - £155) and water recharges of £160 (2024 - £160).
During the year, the Foundation made timber sales of £166 (2024 - £0) to Mr Yanni Petsopoulos, a trustee. Included in Trade debtors is £199 (2024 - £0) owed by Y Petsopoulos..
The average monthly number of employees during the year was:
Contributions totalling £7,271 (2024: £3,382) were made to defined contribution pension schemes, healthcare and life insurance on behalf of employees whose emoluments exceed £60,000.
Stansted Park Foundation is a registered charity (number 1101251).
As a result of its charitable status no liability to taxation arises on the Foundation's investment income.
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £0 (2024 - £4,998) for the year.
We have used the Sedgwick valuation report to revalue the freehold property elements that include buildings. This valuation uses the reinstatement cost of the buildings as at August 2024. Given the unique nature of the property, being that of a stately home and its estate of listed buildings, achieving a meaningful market valuation of the property is considered to be difficult, hence the adoption of the reinstatement cost method of valuation. Freehold property also includes a number of tranches of woods and parks, being land only property and it is considered appropriate to adopt market valuations for this land. The historical cost of these assets is £4,500,262 (2024: £4,500,262).
In common with many historic houses, the Heritage assets consist of furniture and furnishings, carpets and rugs, tapestries, collectors items, clocks, silver and plated wares, objects of vertu, European and Oriental ceramics, works of art, garden statuary, pictures and books.
The Trustees maintain the collection relevant to the history of the house and to the Ponsonby family. From time to time there are acquisitions and disposals of the collection. The collection is catalogued and valued by a major valuation Auction House. Visitors to the house have access to the public rooms. Other areas can be visited by prior arrangement.
During the past five years there have been additions of heritage assets of £733 (none in 2021, 2022, 2023 and 2024 and £733 in 2025). No heritage assets have been sold during the past five years.
The Heritage assets were valued at 31 December 2024 by specialist valuers Sothebys, Quastel Associates and Spink & Son for insurance purposes at £9,021,250.
The historical cost of these assets is £3,339,919.
The trustees have valued investment property on a consistent basis with previous years. RM Davies has provided updated valuations as at 31 December 2025 and we have considered his expertise and experience as appropriate to provide these valuations. Based on his market assessment the carrying values as at the last valuation (30 September 2022) have been uplifted by 5%, adjusting for any property additions since the last valuation.
Liquidity Fund
The listed investments are valued at their market value at 31 December 2025 of £2,559,627 (2024: £2,584,389). The historical cost of the listed investments is £1,856,921 (2024: £2,035,606).
The Liquidity Fund, cash in the portfolio and the shares held in subsidiaries are stated at cost.
The long-term bank loans are secured by fixed charges over certain Freehold investment property of the company which have a total value in the accounts of £5,321,288.
The company has two fixed rate, interest only, long term bank loans of equal amounts. The first loan has a fixed rate of interest of 3.86% per annum, with the one off capital repayment being in February 2028 and the second loan has a fixed rate of interest of 4.35% per annum, with the one off capital repayment being in February 2038.
The company also took out two new long term bank loans in 2022. The first loan has a fixed rate of interest of 4.38% per annum, with capital and interest repayments being made monthly, with the final instalment being paid in February 2031. The second loan has a variable rate of interest of 2.5% above the Bank of England base rate, with capital and interest repayments being made monthly, with the final instalment being paid in June 2031.
The hire purchase obligations on a motor vehicle and an item of plant and machinery have now ended. During the year there have been finance charges incurred of £729 (2024 - £1,038).
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £15,697 (2024 - £16,585).
The capital funds of the charity include unrestricted expendable endowment funds comprising the following:
The income funds of the charity include restricted funds comprising the following balances of donations and grants held on trust for specific purposes:
At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £9,735 (2024 - £12,331).
The total expenditure in the year relating to operating leases is £2,646 (2024 - £1,427).
The leases consist of residential assured tenancies and commercial leases.
At the reporting end date the Charity had contracted with tenants for the following minimum lease payments:
Amounts contracted for but not provided in the financial statements:
During the year the Charity entered into the following transactions with related parties:
Included in Other trading activities incoming resources is a licence fee receivable from Stansted Park Events Limited, a 100% trading subsidiary of Stansted Park Foundation, of £79,625 (2024 - £74,426). Included in Investment income is gift aid receivable from Stansted Park Events Limited of £46,416 (2024 - £45,051). Included in Debtors is £46,416 (2024 - £45,051) owed by Stansted Park Events Limited and included in Creditors is £38,490 (2024 - £36,659) owed to Stansted Park Events Limited. The principal activity of Stansted Park Events Limited is providing services and facilities for functions at Stansted Park. Its turnover for the year is £265,415 (2024 - £248,088).
The Earl and Countess of Bessborough are directors of Broadreed Limited. During the year the Foundation charged rent to Broadreed Limited of £6,710 (2024 - £6,710) and the Foundation purchased building materials from them of £1,217 (2024 - £0). Included in Trade debtors is £0 (2024 - £283) owed by Broadreed Limited.
The Earl of Bessborough's son, Viscount Duncannon, who is also a trustee, is a shareholder in Sam and Fred's Fine Food Company Ltd. During the year there was rent receivable from Sam and Fred's Fine Food Company Ltd of £34,818 (2024 - £32,500), electric recharged to them of £17,591 (2024 - £17,831), water charged of £100 (2024 - £100), services recharged of £1,306 (2024 - £276), insurance recharged of £1,003 (2024 - £0) and heating recharged of £0 (2024 - £396). Included in Trade debtors is £5,600 (2024 - £6,814) owed by Sam and Fred's Fine Food Company Ltd. There was also sundry expenditure incurred of £0 (2024 - £168) from Sam and Fred's Fine Food Company Ltd and included in Trade creditors is £0 (2024 - £202) owed to them.
During the year there were unconditional donations received from trustees and their connected parties of £61,625 and restricted donations received of £3,700.
These financial statements are separate Charity financial statements for Stansted Park Foundation.
Separate company financial statements are required to be prepared by law. Consolidated financial statements for the Stansted Park Foundation Group are prepared and publicly available.
Details of the Charity's subsidiaries at 31 December 2025 are as follows:
The investments in subsidiaries are all stated at cost.
Stansted Park Events Limited is included in the Consolidated accounts of Stansted Park Foundation, however, Stansted Park Limited is not included in the Consolidated accounts as the company ceased trading in July 1992 and the results are not considered material for the purpose of giving a true and fair view.