The film opens by cutting back and forth between scenes of a naval ship carrying Admiral Croft (John Woodvine), and a Horse and buggy carrying Mr. Shepherd (David Collings) and his daughter Mrs. Clay (Felicity Dean) to Kellynch Hall. Shepherd and Clay are accosted by creditors due to the debts owed by the residence's owner, Sir Walter Elliot (Corin Redgrave), while Croft discusses the end of the Napoleonic Wars with fellow men of the navy. Sir Walter, a vain foppish baronet, is faced with financial ruin unless he Retrenchment. Though Sir Walter initially opposes the idea, he eventually agrees to temporarily move to Bath, Somerset while the hall is Renting; the idea came from Shepherd, family friend Lady Russell (Susan Fleetwood), and Sir Walter's second eldest daughter, the intelligent Anne Elliot (Amanda Root).