HISTORIC ROYAL PALACES
a)to manage, conserve, renovate and repair the Palaces (Hampton Court, Tower of London, Kensington Palace, Kew Palace, Banqueting House, Hillsborough Castle) to a high standard consistent with their status; b)to help everyone to learn about the Palaces, the skills required for their conservation and the wider story of how monarchs and people together have shaped society, by all appropriate means
Financial health, per its FY2025 accounts
The accounts state that the charity achieved a record operating surplus of £45.3m and increased its free reserves to £20.0m, meeting its stated policy target. The trustees confirm the organization is well-placed to continue as a going concern, with forecasts indicating it will remain cash positive throughout the next financial year despite global economic uncertainties.
What the accounts disclose
“Excluding the Chief Executive, there were 91 staff during the year earning in excess of £60,000” — page 63
“The free reserves target in 2024/25 was £20m, which we have achieved.” — page 15
“Historic Royal Palaces Enterprises Limited is a company wholly owned by Historic Royal Palaces. It forms the charity’s general trading arm” — page 7
Year-over-year changes
- Employees paid over £60,000: 62 (FY2024) → 91 (FY2025).
- Reserves position vs the charity's own policy moved from "above" (FY2024) to "within" (FY2025).
UK research funding (UKRI Gateway to Research)
- Staging the Henrician Court
- Portable Palaces: Royal Tents and Timber Lodgings 1509-1603
- Portable remote hyperspectral imaging for in situ examination of wall paintings
- An investigation of 3D technologies applied to historic textiles for improved understanding, conservation and engagement
- Extending active life for older people with cognitive impairment through innovation in the visitor economy of the natural environment (ENLIVEN)
- The Human Remains: A Digital Library of British Mortuary Science and Investigation
- Transatlantic Perspectives on the Use of Data Science in Museums and Heritage
- Heritage Science Data Service (HSDS)
- Unlocking markets for content delivery
- WRITING A NEW HISTORY OF TREASON
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Sir Nicholas Coleridgechair
- Camilla Finlay
- Caroline Hope
- Dame Caroline Michel
- Dan Jones
- General Sir Gordon Messenger
- James Chalmers
- John Mothersole
- Jonathan Bewes
- Lisa Jane Burger
- TIMOTHY AIDAN JOHN KNOX
- Tom Harris
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £138.6m | £108.4m |
| 31/03/2024 | £134.4m | £90.9m |
| 31/03/2023 | £102.5m | £82.1m |
| 31/03/2022 | £54.4m | £61.3m |
| 31/03/2021 | £32.7m | £53.9m |
Common questions
Is HISTORIC ROYAL PALACES financially healthy?
Per its FY2025 accounts: The accounts state that the charity achieved a record operating surplus of £45.3m and increased its free reserves to £20.0m, meeting its stated policy target. The trustees confirm the organization is well-placed to continue as a going concern, with forecasts indicating it will remain cash positive throughout the next financial year despite global economic uncertainties. Its FY2025 accounts were audited by The Comptroller and Auditor General, National Audit Office.
Who funds HISTORIC ROYAL PALACES?
Funders whose own accounts filings name HISTORIC ROYAL PALACES as a grant recipient include THE JULIA RAUSING TRUST, THE FOYLE FOUNDATION, JOHN LYON'S CHARITY, THE ARDEOLA CHARITABLE TRUST, THE ANTHONY AND ELIZABETH MELLOWS CHARITABLE SETTLEMENT.
Known funders
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 03/12/2024 | £5.0m | "Transforming the Tower of London Schools and Community Programme" |
| UK government | 23/05/2024 | £134k | HRP REsearch Vault for HEritAge Science CoLlections (REVEAL) |
| UK government | 31/03/2023 | £201k | Re-opening of the Wolsey Rooms and re-interpretation of an iconic Tudor Art collection |
| UK government | 18/10/2022 | £271k | Henry VIII on Tour: Landscape, Communities and Performance |
| UK government | 18/10/2022 | £268k | Henry VIII on Tour: Landscape, Communities and Performance |
| UK government | 01/04/2022 | £117k | Henry VIII on Tour: Landscape, Communities and Performance |
| UK government | 01/04/2021 | £3.2m | Historic Royal Palaces Maintenance Award |
| UK government | 01/04/2021 | £2.9m | Historic Royal Palaces Portfolio of Grants for Programmes of Major Works |
| UK government | 05/01/2021 | £7k | Hampton Court Palace, London |
| UK government | 05/01/2021 | £4k | Kensington Palace, London |
| UK government | 18/12/2020 | £2k | Banqueting House, London |
| UK government | 18/12/2020 | £7k | The Queen's Cottage, Kew Gardens |
| The National Lottery Heritage Fund | 06/07/2020 | £220k | "COVID19: Historic Royal Palaces" |
| The National Lottery Heritage Fund | 19/01/2016 | £5.0m | "Hillsborough Castle: opening doors, exploring stories, inspiring the future - for everyone" |
| The National Lottery Heritage Fund | 05/03/2009 | £999k | "'Welcome to Kensington - a palace for everyone'" |
| The National Lottery Heritage Fund | 06/06/2003 | £1.6m | "Kew Palace in Kew Gardens - a Royal Domestic Retreat" |
| The National Lottery Heritage Fund | 26/07/2000 | £5.8m | "Tower Environs Scheme - Understanding the Tower" |
| The National Lottery Heritage Fund | 25/07/1995 | £500k | "Tower of London and its Environs, Tower Hamlets, London" |
| UK government | — | £82k | Portable Palaces: Royal Tents and Timber Lodgings 1509-1603 |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| H M SASSOON CHARITABLE TRUST | 2 | £180k |
| THE MICHAEL BISHOP FOUNDATION | 1 | £400k |
| KUSUMA TRUST UK | 1 | £370k |
| THE THOMPSON FAMILY CHARITABLE TRUST | 1 | £358k |
| THE MOHN WESTLAKE FOUNDATION | 1 | £200k |
| THE DAVID BROWNLOW CHARITABLE FOUNDATION | 1 | £200k |
| THE LONDON MARATHON CHARITABLE TRUST LIMITED | 1 | £128k |
| ROYAL COMMISSION FOR THE EXHIBITION OF 1851 | 1 | £50k |
Charities like this
- THE HM TOWER OF LONDON CHAPELS ROYAL FOUNDATION
- THE CHORAL FOUNDATION, THE CHAPEL ROYAL, HAMPTON COURT PALACE
- THE ROYAL COLLECTION TRUST
- THE ROYAL PARKS [LIMITED]
- THE PALACE TRUST
- BLENHEIM PALACE HERITAGE FOUNDATION
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| HISTORIC ROYAL PALACES | £138.6m | — | 91 | within | — | no doubt |
| THE HM TOWER OF LONDON CHAPELS ROYAL FOUNDATION | £297k | — | — | unclear | — | no doubt |
| THE CHORAL FOUNDATION, THE CHAPEL ROYAL, HAMPTON COURT PALACE | £319k | — | 0 | unclear | — | no doubt |
| THE ROYAL COLLECTION TRUST | £85.3m | — | — | unclear | — | no doubt |
| THE ROYAL PARKS [LIMITED] | £109.9m | £180,001 - £190,000 | — | within | — | no doubt |
| THE PALACE TRUST | £2.2m | — | — | above | — | no doubt |