THE PALACE TRUST
Registered charity 1160830 · accounts filings on the Charity Commission register
The Palace Trust aims to preserve and make accessible The Bishop's Palace and its fourteen acres of gardens to the public, as a place of historic, architectural and landscape interest.
Causes: Education/training · Religious Activities · Arts/culture/heritage/science · Environment/conservation/heritage · website · Get email alerts
Financial health, per its FY2025 accounts
The accounts state that the charity returned a surplus of £73,534 for the year ended 31 December 2025, marking the second successive year of surplus. Per the trustees' report, unrestricted net assets stood at £1,276,805, with free reserves of £461,887 held against a policy target of three months' forecast expenditure (£450,000). The auditors confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.
Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.
What the accounts disclose
Reserves policy: three months of forecast expenditure (held: £462k)
“The policy is to have a Trust Reserve for unrestricted funds at the year-end of sufficient size to cover the period from January to March when The Palace Trust runs at a deficit. The Trust Reserve therefore equates to 3 months of forecast expenditure. As at 31st December 2025 this was £450,000.” — page 18
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: The chief executive, M Kidd, was charged £5,500 in rent for the use of The Gardeners Flat during 2024 and did not occupy the premises in during 2025. The rent was collected and, in turn, paid onto the Church Commissioners. A balance of £nil (2024: £nil) was outstanding to The Palace Trust at the year end. This is considered to be a market rent.
“The chief executive, M Kidd, was charged £5,500 in rent for the use of The Gardeners Flat during 2024 and did not occupy the premises in during 2025. The rent was collected and, in turn, paid onto the Church Commissioners. A balance of £nil (2024: £nil) was outstanding to The Palace Trust at the year end. This is considered to be a market rent.” — page 49
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: Palace Enterprises (Wells) Limited
“Palace Enterprises (Wells) Limited (company no 03013064) was incorporated 23 January 1995 and is a wholly owned trading subsidiary of The Palace Trust.” — page 41
Per its FY2025 accounts as filed with the Charity Commission.
Accounts audited by Albert Goodman LLP. Discloses 4 of 6 completeness components.
Corporate structure
PALACE ENTERPRISES (WELLS) LIMITED — per its own Companies House accounts
Funders the charity credits
Named as funders/supporters on the charity’s own website (the charity’s claim, distinct from accounts-verified grants).
- national lottery — “The Palace Trust gets no statutory funding and is supported entirely by grants from organisations like the national lottery and charitable t…” (source page)
- charitable trusts — “The Palace Trust gets no statutory funding and is supported entirely by grants from organisations like the national lottery and charitable t…” (source page)
Company officers (Companies House)
Current officers of the charity’s own company per the Companies House register, cross-checked against the Charity Commission trustee list by name. A director not on the trustee list is usually a timing or naming difference between the two registers — check both records before drawing conclusions.
- STRACHEY, Sally Anne — director, appointed 20/11/2025on trustee list
- HOPKINS, Natasha Elena — director, appointed 01/09/2024on trustee list
- BRAWLEY, Caroline — director, appointed 01/09/2024on trustee list
- BEEDLE, Gregory Merrick — director, appointed 01/06/2024on trustee list
- MACDONALD, Katharine Isolde Elisabeth — director, appointed 02/05/2023on trustee list
- BEASLEY, Noel Michael Roy, Bishop — director, appointed 15/09/2022on trustee list
- HAWES, Roger — director, appointed 01/12/2021on trustee list
- DICKINSON, Paul Richard — director, appointed 01/10/2021on trustee list
- WILLMOTT, Trevor, Rt Revd — director, appointed 01/09/2021on trustee list
- MINTA, Michael Timothy — director, appointed 18/02/2021on trustee list
- KIDD, Merryn — secretary, appointed 16/07/2025
Official officers record.
Property (HM Land Registry)
1 registered title in England and Wales held by the charity’s company or corporate body (0 freehold). All charity-held property. Contains HM Land Registry data © Crown copyright, OGL v3.0.
Public profiles (found on the charity’s own website): facebook · instagram
Structured financials (annual return, FY ending 31/12/2025)
Cost of raising funds
£975k
Reported reserves equal ~2.6 months of spending — below the median for charities its size (median 4.8 months; benchmarks).
Per its annual return, largest income source: Other trading activities (55% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.
Per its annual return, cost of raising funds: 44.9% of total income — above the 90th percentile for charities its size (median 5.2%) (benchmarks).
Register events
- Received assets from another charity (22/07/2022) — per the register’s event history; asset transfers typically record mergers or reorganisations.
Trustee list from the Charity Commission register (current, not historical).
Operates in: Somerset
Income and spending
Common questions
Is THE PALACE TRUST financially healthy?
Per its FY2025 accounts: The accounts state that the charity returned a surplus of £73,534 for the year ended 31 December 2025, marking the second successive year of surplus. Per the trustees' report, unrestricted net assets stood at £1,276,805, with free reserves of £461,887 held against a policy target of three months' forecast expenditure (£450,000). The auditors confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified. Its FY2025 accounts were audited by Albert Goodman LLP.
Who funds THE PALACE TRUST?
Funders whose own accounts filings name THE PALACE TRUST as a grant recipient include CLARK FOUNDATION, THE MEDLOCK CHARITABLE TRUST.
Known funders
Grants to this charity found in funders’ own accounts filings.
Government & lottery funding
Grants to this charity published as open data by government and lottery funders (360Giving).
Funders of similar charities
Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.
Charities like this
Semantically similar by activities and financial character, from our analysed corpus. Compare with ALEXANDRA PARK AND PALACE.
Side by side with its peers
Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.