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2022-03-31-accounts

Page
Legal and administrative information
Trustees' report 2-10
Independent
examiner's		 report
Statement offinancial activities 12- 13
Balance sheet 14
Notes to the financial statements 15-29

Board OfTrustees Board OfTrustees Board OfTrustees Mrs Lesley Saunders - Acting Mrs Lesley Saunders - Acting Mrs Lesley Saunders - Acting Chair Chair
Mrs Denise Amos - Chair (Resigned 15February 2022)
Mrs Sheila Wearmouth (Resigned 25February 2022)
Mrs Ckaire Rose (Resigned 13September 2021)
Mr Gulshan Mangat (Resigned 13 September 2021)
Ms Lucy Unger
Mr Samuel Forsyth
Mr James Burgess
Mr Richard Atterton
Ms Claire Woodforde
Patrons Lady Caroline Bowes-Lyon
The Rt Hon The Lord Cormack DLFSA
The RtHon the Lord Lilley
Mr Andrew Dimsey
Mrs Dot Dimsey
Ricardo Lopez-Portill y Lancaster Jones
DonArmando
Lopez-Portillo		 y Garcia-Rajas
Rodrigo-Alonso
Lopez-Portillo		 y Lancaster-Jones
Francesco-Xavier
Lopez-Portillo		 y Lancaster-Jones
President Vacant
VicePresidents Miss EHunter
Mrs CIley
Charity aumber 1010345
Company number 02576495
Registered office 41/42 Queen Street
Hitchin
Hertfordshire
SG4 9TS
Independent examiner Mark Hjertzen BAFCA
HW Associates Limited
Portmill House, Portmill Lane
Hitchin
Hertfordshire
SGS 1DJ
Bankers CAF Bank Limited
PO Box289
West Mailing
Kent
ME194TA

Tete Visitor Numbers
insncial blic shool dults wit roup eats oom Hire utreach tal
ar ening hildren, hools Isltol's
016/17 978 329 82 380 13 1399 11069
017/18 663 845 66 481 81 1616 12320
018/19 948 359 26 389 949 1963 14434
019/20 1831 113 47 20 33 28 1551 11123
020/21 1684 104 951
021/22 451 1419 166 1457 165 25 113

Plans forfuture periods Plans forfuture periods
Looking for new revenue streams
Fund raising opportunities
Explore new ways to use the Collections and Buildings
Finance
~Maintain
scrutiny on financial operations
~Gain financial
sustainability
by levelling		 running costs and guaranteed income.
~ Look at new ventures to enhance the earned income of the museum.
People
Prioritise volunteer
recruitment
for event organising,		 social media, collections snd volunteer management
Buildings
Draw up annual
maintenance
plans
Lookfor funding to maintain
the fabric		 ofthe buildings
Obtain a full site condition
survey
to enable		 oversight ofremedial works.
Digital
Invest in digital innovation
with new in&astructure		 and capability
Increase social media channels
and profile
Review online booking
Commercial
Trading
Re-imagine
the tea-room and museum		 shop
Review the museum
brand
Create an annual event plan for weekends and holidays, developing signature events

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Charity information
Hitchin
British
Schools Trust
is a private
company
limited
by guarantee
incorporated
in England
and Wales. The
registered ofiice is 4I/42 Queen Street, Hitchin, Hertfordshire,
SG49TS.
1.1 Accounting
convention
The accounts have been prepared
in accordance
with the Trust's
governing
document,
the Companies
Act		 2006 and
"Accounting
and Reporting
by Charities:
Statement of Recommended
Practioe applicable
to charities
preparing
their
accounts in accordance
with the Financial Reporting
Standard
applicable
in the UK and Republic ofIreland (FRS 102)"
(as amended
for accounting
periods
commencing
&om 1 January 2016).The Trust is a Public Benefit Entity as defined
by FRS 102.
The Trust has taken advantage ofthe provisions
in the SORP for charities
applying
FRS 102 Update Bulletin		 1 not to
prepare a Statement ofCash Flows.
The financial
statements
are prepared
in sterling,
which
is the functional
currency of the Trust. Monetary
amounts		 in
these financial
statements
are rounded
to the nearest E
The financial
statements
have
been prepared
under
the historical
cost convention.
The principal
accounting		 policies
adopted are set out below.
12 Going concern
At the time ofapproving
the financial
statements,
the Board ofTrustees have areasonable
expectation that the		 Trust has
adequate
resources to continue
in operational
existence for the foreseeable future. Thus the Board ofTrustees continue		 to
adopt the going concern basis ofaccounting
in preparing
the financial
statements.
1.3 Charitable
funds
Unrestricted
funds
are available
for use at the discretion of the Board of Trustees
in furtherance
of their		 charitable
objectives.
Restricted funds are subject to specific conditions
by donors
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 that the capital must be maintained
by the Trust.
1.4 Income
Income is recognised when the Trust is legally entitled
to it afier any performance
conditions
have been met, the amounts
can bemeasured
reliably,
and it is probable that income will be received.
Cash
donations
are recognised
on receipt.
Other
donations
are recognised
once the Trust
hss been notified of		 the
donation,
unless performance
conditions
require
deferral ofthe amount. Income tax recoverable
in relation to		 donations
received under Gift Aid or deeds ofcovenant isrecognised at the time ofthe donation.
Legacies are recognised
on receipt or otherwise ifthe Trust has been notified ofan impending
distribution,
the
known,
and receipt is expected. Ifthe amount is not known, the legacy is treated as a contingent
asset.		 amount is

Unrestricted Unrestricted Restricted Total Total
funds funds funds 2022 2021
general designatedf
Donations and gills 21,945 21,945 50,410
Grants receivable for core activities 57,429 10,000 67,429 155,951
79,374 10,000 89,374 206,361
For the year ceded 31March 2021 204,271 2,090 206,361

3 Charitable activities activities
Museum and Museum and educational
educational programmes
programmes
2022f 2021
Sales within charitable
activities		 27.732 11,190
Performance related grants 13,007
40,739 11,190
Analysis
by		 fund
Unrestricted funds - general 27,732 11,190
Restricted funds 13,007
40,739 11,190
For the year ended 31March 2021
Unrestricted funds - general 11,190
Performance related grants
13,007
4 Other trading activities
Unrestricted Unrestricted
funds funds
general general
2022 2021
f f
Fuudraisiug events and room hire 13,975 8,978
Cafe and shop income 4,813 681
Other trading activities 18,788 9,659

5 Bank interest receivable receivable
Unrestricted Unrestricted
funds funds
general general
2022f 2021
Interest receivable 13 45
6 Fundraising activities
Unrestricted Unrestricted
funds funds
general general
2022 2021
f
Costs offundraising events and room hire
Catering and other costs 3,508 6,553
Cafe and shop expenditure
Purchases for cafe and shop 1,714 56
5,222 6,609

Charitable activities
Museum
and		 Preservation Maintenance Total Total
educational alltl ofhistoric 2022 2021
programmes exhibition
of		 buildings
collections
2022 2022 2022
f,
Staffcosts 36,835 10,593 47,428 41,656
Depreciation and impairment 15,523 15,523 15,746
Exhibition
and conservation		 costs 68 635 703 901
Schools programme costs 5,046 5,046 1,552
Repairs and maintenance 6,056 7,705 13,761 653
Staff and volunteer training and welfare 604 604 5,990
Other costs 791 791 1,589
64,923 11,228 7,705 83,856 68,087
Share ofsupport casts (see note 8) 22,337 6,793 29,130 23,525
Share ofgovernance costs (see note 8) 7,744 2,355 10,099 22,560
95,004 20,376 7,705 123,085 114,172
Analysis
by		 fund
Unrestricted funds - general 70,447 20,376 6,505 97,328 104,449
Unrestricted funds - designated 6,056 6,056
Restricted funds 18,501 1,200 19,701 9,723
95,004 20,376 7,705 123,085 114,172
For the year ended 31March 2021
Unrestricted funds - general 72,058 28,330 4,061 104,449
Restricted funds 9,189 534 9,723
81,247 28,330 4,595 114,172

S Support costs
Support costs Governance 2022 Support costs Governance 2021
costs casts
8
Staffcosts 7,699 7,699 20,560 20,560
Premises running costs 18,583 18,583 15,819 15,819
Communications and
advertising 5,162 5,162 4,113 4,113
Book-keeping services by
Independent
Examiner		 2,117 2,117 1,697 1,697
Other finance, legal and
professional 1,658 1,658 1,633 1,633
Office and general 1,610 1,610 263 263
Independent
examiner's
remuneration 2,400 2,400 2,000 2,000
29,130 10,099 39,229 23,525 22,560 46,085
Analysed
between
Charitable activities 29,130 10,099 39,229 23,525 22,560 46,085

The averag e m onthly
number ofemployees
during the yea		 r was:
2022 2021
Number Number
Charitable activities
Employment costs 2022 2021
8
Wages and salaries 54,142 61,405
Other pension costs 985 811
55,127 62,216

Net gains/(losses) Net gains/(losses) on investments
Unrestricted Total
funds
general
2022 2021
8
Gain/(loss) on sale ofinvestments (2)

Tangible fixed assets Tangible fixed assets
Land and Building Fixtures, Total
bugdinga renovation g fittings 8
restoration estulprnent
f
Cost
At I April 2021 180,000 127,896 165,485 473,381
Additions 1,100 1,100
At 31March 2022 180,000 127,896 166,585 474,481
Depreciation and impairment
At 1April 2021 31,200 44,729 107,063 182,992
Depreciation charged in the year 1,200 2,558 11,765 15,523
At 31 March 2022 32,400 47,287 118,828 198,515
Carrying
amount
At 31March 2022 147,600 80,609 47,757 275,966
At 31March 2021 148,800 83,167 58,423 290,390
Cost orvaluation
At 1April 2021 k, 31March 2022
Carrying
amount
At 31March 2022
At 31March 2021

14 Fixed asset investments (Continued)
Other investments
comprise:		 Notes 2022f 2021
Investments
in subsidiaries		 24
15 Stocks
2022 2021
g
Finished goods and goods for resale 4,689 4,703
16 Debtors
Amounts
falling due within		 one year: 2022f 2021
K
Trade debtors 4,145 310
Other debtors 246 7,399
Prepayments
and accrued income		 9,277
13,668 7,709
17 Creditors: amounts
falling due within oae year
2022 2021
f
Other taxation and social security 750 706
Trade creditors 3,292 217
Accruals and defened income 4,200 3,800
8,242 4,723

19 Restricted funds funds (Continued)
Balance at Incoming Resources Transfem Balance at
1April 2021 resources expended 31 March 2022
8 f 6
Collections 3,221 3,221
Internship 100 100
Compass grant 1,000 (1,000)
Computer
dt telephone		 2,487 (577) 1,910
Fixed asset rederv e 71,099 (11,517) 59,582
lntership 1,671 (1,671)
Computers and telephone 1,697 (1,697)
Small items 4,860 (4,860)
Hertfordshire literacy 551 (55I)
Other costs 1,190 (1,190)
Keeping Your Trustees on Track 900 900
Playground 385 (385)
Apprentice salary - Kickstart 5,021 (5,021)
Tearoom relaunch 4,500 4,500
Museum
lightning		 1,200 (1,200)
86,876 13,006 (19,700) (9,969) 70,213

19 Restricted
funds		 (Continued) (Continued)
Collections Fund
This fund represents
various
donations
which
have enabled		 the purchase of conservation materials and cataloguing
facilities forthe collections.
Computer
rtr Telephone
Fund
This fund
represents
donations
and
grants
to enable		 the Trust to upgrade its computers and telephone systems.
Permission was obtained to de-restrict and release to general fund.
Arts Council England Culture Recovery Funding
This fund represents
grants to fund an intern
to assist		 the Curator with the collection. Permission was obtained to de-
restrict and release to general fund.
Small items
This fund represents
anumber ofsmall grants and donations		 for a variety ofpurposes.
Association ofIndependent
IVIuseums
This fund represents
grants I'rom the Association ofIndependent		 Musenins BiffaHistory Makers scheme.
Fixed asset reserve
This fund holds the net book value ofassets purchased using restricted capital funds.
Keeping Your Trustees On Track
This fund represents
grants to support the trustee board		 development and transition work.
Heritage
Compass
This fund represents
grant to fund the development		 of essential skills in business planning, audience development,
leadership
and
change
management,
with
the aim of creating		 a better connected, informed and resilient heritage
landscape
across England.
Bringing Laughter BacktoPlayground
This fund represents
a grant
to increase
the interpretation		 ofthe playground to include introducing a new schools'
session where they leam about and play traditional
games.
Kickstart Scheme
This fund from DWP represents
grants
help to provide		 six months ofpaid employment for young people including
employability
support to develop their work skills and to help them		 find future employment.
STOS
This fund represents
funding
for social enterprise.
SHARE-TowardNet
Zero Carbon- (Lighting)
This fund represents
grant for lighting.
Het tfordshire Literacy
This fund represents
agrant to cover core costs over the Covid		 19 lockdown.
Other items
This fund represents
small grants for variety ofpurposes

2022f 2021
f
Within one year 1,325 1,325
Between two and Ave years 994 2,320
2,319 3,645
23 Related party transactions
Remuneration ofkey management personnel
The remuneration ofkey management personnel is as follows.
2022 2021
f I
Aggregate
compensation		 17,386 10,739