Charity registration number 1010323 YORKSHIRE WOLDS HERITAGE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
YORKSHIRE WOLDS HERITAGE TRUST LEGALAND ADMINISTRATIVE INFORMATION Tru$lee3 MrRAMill Mr A Frankland-Barber MrSJKing Mr J C Heavisides Mrs M Cowell Mrs G SAinsworth Mr R Kilburn Charity number 1010323 Principal address The Gables Town stet Shiptonlhorpe Y043 3PE Independent examiner Fawley Judge & Easton Chartered Certified A¢¢ountants 1 Parliament Stree* Hull Easl Yorkshire HU12AS
YORKSHIRE WOLDS HERITAGE TRUST CONTENTS Page Trustees, report Independenl examinetts report ststement of financial 8Ctivities Balan sheet Notes to the financial statements 6-10
YORKSHIRE WOLDS HERITAGE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The trustees present their annual report and financial statements for the year ended 31 January 2024. The financial statements have been prepared in accordance wf(h the accounting policies set OLrt in note 1 to the financial statements and comply with the trust's constitution, the Charities Act 2011 and "Accounb'ng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. Objectives and activities The Trust is established for Ihe public benefit for the following purposes in the area of the Yort(shire Wolds, which area shall hereinafter be referred to as the area of benefit". {11 To secure the preservation, protection, development and improvement of landscape and features of archaeological. historical. ecological. geological, geographical and archileclural interest in the area of benefit, (21 To educate the public in the archaeology, history, ecology. geology, geography and ar¢hite¢ture of the area of benefit Nothing in this constitution shall aulhorlse an application of the property of the CS0 for the purposes which are not ¢harrtable. The trustees have paid due regard to guidan issued by the Charity Commissiors in deciding what activities the trust should undertake. A¢hievomonl$ and pèrfornian¢e Financial review The financial statements are set out elsewhere in this report. During the year under review the Company has a surplus of income over expenditure of £71,749 leaving the company with net surplus of£609,078. 11 is the policy of the trust that unreslricled funds which have not been designated for a specific use should be maintsined al a level equivalent to beleen three and six month's expenditure. The trustees consider that reserves at this Sevel will ensure that, in Ihe event of a significant drop in funding, they will be able to continue the Irust's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintsined throughout the year. Structure, governance and management The trust is a registered charity. The trustees who served during the year and up to the date of signature of the financial statements were." MrRAMill Mr A Frankland-Barber MrSJKing Mr J C Heavisides Mrs M Cowell Mrs G S Ainsworth Mr R Kilburn
YORKSHIRE WOLDS HERITAGE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Appointment of charity trusteos {1 } At the first annu35 general meeting of the members of the CIO all the charity trustees shall relire from offi¢e', {21 At every Isubsequentl annual general meeting of the members of the CIO. one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one- third shall retire from offi, but if there is only one charity trustee. he or she shall retire.. (31 The charity trustees to retire by rotation shall be those who have been longest In Offi Sin their last appointment or reappointment. If any Iruslees were last appointed or reappointed on the same day those to retire shall (unless they olhenNise agree among themselves) be detemiined by lot.. {4) The vacancies so arising may be filled by th8 d8cision of the members at the annual general meeting., any vacancies not filled at the annual general meeting may be filled as provided in sub-clause151 of this clause., 151 The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordan with clause 15 (Retirement and removal of charity truslees}, or as an additional tharity trustee, provided that the limit specified in clause 12131 on the number of charity trustees would not as a result be eXded., {61 A person so appointed by the members of the CIO shall relire in accordan with the provisions of sub-clauses 12} and 131 of this clause. A person so appointed by the charity trustees shall 11 at the conclusion of the next annual general meeting after the dale of his or her appointment, and shall not be counted for the purpose of detemiining which of the charity trustees is to retire by rotation at that meeting. None of the trustees has any benefi¢ial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees, report was approved by the Board of Trustses. rankland-Barber 26 November 2024
YORKSHIRE WOLDS HERITAGE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORKSHIRE WOLDS HERITAGE TRUST I report lo the trustees on my examination of the financial statements of Yorkshire Wolds Heritage Trust (the trust) for the year ended 31 January 2024. Responsibilities and basis of report As the trustees of the trust you are responsible for the preparation of the financial statements in accordan with the requirements of the Charities Act 2011 (the 2011 A¢l}- I report in respect of my examination of the trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directsons given by the Charity Commission under section 145(51{bl of the 2011 A¢t. Independent examinerfs slatement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in Ihe extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any malerial respect.. accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act., or the financial stal8ments do not accord with those records,. or the financial statements do not comply with the applicable requirements Conrning the fonn and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not 8 matter considered as part of an independent examination. I have no co should rns and have come across no other matters in connection with the examination to which attention re ort in order to enable a proper understanding of the financial statemènts to be reached. than Leathley wley Judge & Easton Chartered Certified Accountants 1 Parliament Street Hull East Yorkshire HU12AS Dated.. 26 November 2024
YORKSHIRE WOLDS HERITAGE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2024 Unrostrictsd funds 2024 Unrestricted funds 2023 Notss Income from.. Oonations 2nd legacies Charitable actsvilies Investments 80,422 3,262 9,049 228,178 1.879 15.748 Total Income 92,733 245.805 Expenditure on: ChaTitsbl6 activities 5,394 3,728 Total expenditure 5.394 3.728 Net gainslllosses} on investments 10 115,5901 59,683 Net income and movement in funds 71,749 301,760 Reconciliation of funds: Fund balances at 1 February 2023 537,329 235,569 Fund balances at 31 January 2024 609.078 537,329 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
YORKSHIRE WOLDS HERITAGE TRUST BALANCE SHEET ASAT31 JANUARY2024 2024 2023 Note8 Fixed assets Investments 12 352.458 368,048 Current assets Cash al bank and in hand 256,620 169,281 Net current assets 256,620 169.281 Total assets less current Ilabilltles 609,078 537,329 Net assets excluding pension liability 609,078 537,329 Th¢ funds of Ihè trust Unrestricted funds 609.078 537,329 609,078 537,329 The financial statements were approved by the trustees on 26 November 2024 -i s) ankland-Barber Trustse
YORKSHIRE WOLDS HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accountlng policies Charity infomiation Yofkshire Wolds Heritage Trust is a charity- 1.1 Accounting convention The financial statemenls have been prepared in a¢¢ordan¢e with the trusvs Igoveming documentl, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. {°FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of Ihe provisions in the SORP for charilies not to prepa a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following Ihe Slatemenl of Recommended Practice for charib'es applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulalions but which has since been withdrawn. The financial statements are prepared in sterling, which is trse fijnctional currency of the trusL Monetary amounts in these financial statements are rounded to the néarest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectstion that the trust has adequate reSoUrS 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. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of théir charilable objective5. 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. Endowment funds are Subject to specific conditions by donors thal the caprtal must be maintained by the trust. 1A Income Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be reIVed. Cash donations are recognised on receipt. Other donations are recognised On the trust has been notified of the donation, unless performan ¢ondition5 require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donab'on. Legacies are recognised on receipt or othetwise if the trust has been nolified of an impending distribution. the amounl is known. and receipt is expected. If the amount is ElQt known, the legacy is treated as a contingent asset.
YORKSHIRE WOLDS HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policigs (Contlnued} 1.5 Expenditure Expenditure is recognised On there is a legal or construclive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefils will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activty are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocate¢J on the portion of Ihe asset's use. 1.6 Fixed asset Investments Fixed asset investments are inib'ally measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each repoth'ng date. Changes in fair value are recognised in net incorne](expenditurel for the ye8r. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balan$, are initially measured at transaction price including transaction costs and are subsequently carried at amorbsed cost using the effecbve interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the fijture receipts discounted at a market rate of interest. Financial assets classifièd as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilibes, including creditors and bank loans are initially recognised at transaction price unless Ihe arrangement constitutes a financing Irans3Ction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabiltlies classified as payable within one year are not amorb"sed. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been aquired in the ordinary course of operations from suppliers. Amounts payable are classified 8$ current liabilities if payment is due within one year or le55. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabllitles Financial liabililies are derecognised when the trust's contractual obligations expire or are discharged or carn11ed. 1.8 Employe¢ benefits The cost of any unused holiday entitlement is recognised in the pertod in which the employee s SetvIS are received. Temiination benefits are recognised immediately as an expense when the trust is demonstrably ¢ommrtted to temiinate the employment of an employee or to provide termination benefits.
YORKSHIRE WOLDS HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Criti¢al ac¢ountlng estimates and judgements In the application of the trust's accounting policie5, the trustee5 are required lo make judgements, 8Stimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated a55umptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying 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 penods where the revision affects both current and future period5. Income from donallons and legacies Unrestrlcted funds 2024 Unrestrlcted funds 2023 Legacies receivable 80,422 228,178 Income from ¢harltable a¢tlvltles Unrestricted funds 2024 Unrestrl¢ted funds 2023 Heading #ac989 Sale of goods 3,262 1,879 Income from investmonls Unrestricted Unrestricted funds funds 2024 2023 Income from listed investments Interest receivable 8,381 668 15.734 14 9,049 15,748
YORKSHIRE WOLDS HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Expenditure on charitable activitiOS Heading
a¢982
2024 Heading
a¢982
2023 Dlrect costs Insurance Admin - Postage and Website Sewerby Hall - Vislt & EGM General Expenses Visits and lectures AGM costs Charitable expenditure heading 7 622 88 1.455 287 682 1,602 1,157 2.362 100 767 5,394 3.728 Analysis by fund Unrestricted funds 5,394 3,728 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl{creditingl'. Trustees None of the trust6es {or any persons connected with them) recEived any remuneration or benefits from the trust during the year. Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key managomgnt personnel The remuneration of key management personnel was as follows:
YORKSHIRE WOLDS HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 10 Gains and losses on invostmgnts Unrestricted Unrestricted funds funds 2024 2023 Gainslllosses) arising on". Revaluation of investments 115,5901 59.683 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Fixed a8set investments Ll$ted investments Cost or valuation At 1 February 2023 & 31 January 2024 368,048 Carrying amount At 31 January 2024 368,048 At 31 January 2023 368,048 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and 9rantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 February 2023 In¢oming resources Resources expended Gains and Al 31 January losses 2024 General funds 537,329 92,733 15,3941 115,5901 609.078 Previous year: At 1 February 2022 Incoming resources Re$ources expended Gains and At 31 January losses 2023 General funds 235.569 245.805 13,7281 59,683 537.329 14 Rèlatsd party transactions There were no disclosable related paty transactions during the year {2023- none). 10