Cbarity registration lluknber 1010345
Company registration number 02576495 {England and Wales)
HITCHIN BRITISH SCHOOLS TRLST
BRtTtSH SCHOOIS MUSEUM
ANNUAL REPOKt AIW UYAUDITED FINANCIAL STATEME￿5
FOR THE YEAR ENDED 31 MARCH 2024

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
CONTENTS
Page
Legal and administrative inforniation
Trustees, report
Independent examineT'S report
io
Statement of financial activities
11- 12
Balance sheet
13
Notes to the fu)ancial statements
14-27

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
LEGAL AND ADMINISTRATIVE INFORMATION
Boird Of Trustees
Mrs Lesley Saunders- Chair
Ms Lucy Unger
Mr Douglas Black
Mr FrarF¢i5 Hon
Mrs Emine Dogan
Mr Richard Atterton
Ms Claire Woodforde
Dr Zibiah tA)akthar
Mrs Wendy Watson
Mrs Abigail Kikuchi
Ms Esther Green
Appointed l November 2023
Appointed l November 2023
AptKJinted l November 2023
Resigned 24 May 2023
Patrons
Lady Carolin¢ Bowcs-Lyon
Mr Andrew Dimsey
Ricardo Lopez-Portill y Lancasier Jones
Rodrigo- AlorLW Lopez-Portillo y Lancaster- Jones
Francisco-xavier IK>pez-Portillo y Lan&qster- Jones
President
Mrs Ynonne Limbrick
Vice Presidettts
Miss E Hunter
Mts C Iley
Charity llumber
1010345
Company number
02576495
Registered office
41142 Queen Street
Hitchin
Hertfordshirt
SG4 9TS
Independent examiner
Mark Hjertzen BA FCA
HW Associates Limited
Portmill House. Portmill Lane
Hitchin
Hertford5hire
SG5 IDJ
Bankers
CAF Bank Limited
PO Box 289
West Malling
Kent
ME194TA

HITCHtN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEL'M
TRUSTEES, REPORT ONCLUDING DIRECTORS, REPORT)
FOR THE YE4R EJVDED 31 MARCH2024
The Board of Trustees present their report and accounts for the year ended 31 March 2022.
The accounts have been prepared in accordance with ihe accounting policies set out in note I to the accounts and Ix)mply with
the Trust's Memornndum and Articles of Association. the Companies Act 2006 and "Accounting and Reporting by Charities:
Staternent of Recornmended 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 l January 2015)"
The Legal and Administrative infomation set out on page I fornis an Inte￿al part of this Report.
Chairs Report The year 2023 been a remarkable period for the Hitchin British SchooL marked by significant achievements
and community engagement. Our museum. housed in the historic Grade 11 and Grade Il* listed buildings, continues to be a beacon
of educational heritage. This year. we successfully hosted numerous events. which attracted a diverse group of visitors eager lo
learn about the ¢ducational pr4cti¢¢5 of the pasL providing a fim and educational experience for families. These events not only
enhanced our visibility, but also strengthened our tie5 with the local community.
En addition to our public events, we have made strides in preserving and show￿1ng our unique collection. The rnuseum's
Victorian Gallery cl&ssroom and the last surviving Monitorial Schoolroom in the world remain central attractions, drawing hidory
enthusiasts and educational groups alike. Our efforts to offer immersive experien￿5. such as the 1880 Gallery Lesson. have been
well-re¢eived. providing visitor5 with a vivid glimpse into the edu(*ionai methods of the 19th century.
Furthermore, the introduction of our Play Cafe has been a resounding success winning a Heritage Association of Museums award
for innovation. This space, with its ind(K)r and outdoor plaj" are&s, h&s become a favourite among our youngest visitors and their
families, offering a welcoming environment where they can enjoy refreshments while the children play. A5 we look forward to
the ¢oming year. we remain committed to our mission of preserving this invaluable piece of educational history and continuing
to offer enriching experiences to all our visitors.
A hathfelt appreciation goes out lo our resilient staff. whose optimism and patience have been unwavering. We are immensely
grateful to our dedicated volunteers. sponsors. donors: grant givers, and Friends. whose support and hospitality, including
countless eups of te4 have been invaluable throughout the year.
Looking ahead to 2024125. the Hitchin British Schools Museum is continuing to actively pursue grants lo further enhance the
buildings infrastructure and elevate the museum to a preferred destination for all. We are excited about the future and remain
committed to preserving our cultural heritage while adapting to the evolving need8 of our community.
Lesley Saunders
Acting Chair HBST
Date: 25 Nov 2024

HITCHIN BIUTISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
TRUSTEES, REPORT {INCLUDINC DIRECTORS, REPORT)
FOR THE YE4R ENDED 31 MARCH 2Q24
The financial ststements have been prepared in accordatice with the ac¢owitingpolicies set out in note I to the financial statements
and comply with the Trust's tgoveming documentJ. the Comparties Act 2006 and "Accounting 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 (FRS 102)" (effective l January 20 19).
Objectives and •cliviti¢$
The charitys objects ('Objects') are spe¢ifically restricted to the following:
l. to preserve and use a historically important group of buildings in Hitthin. Hertford5hire knolvn as British Schools.
2. to advance education of the public in the hlstory of schooling by:
A. preserving and enhancing the collections of artefacts relating to the hislory of elemenw education and social history
of children.
B. presenting these buildings and collections &s a Mu￿uM of elementsry education and childhood:
C. delivering a livin8 experience of historical schooldays to all.
The Trust continues to uphold the following Vision and Mission Statements: _
Our Vision TS for the British Schools Museum: To be the best at (x)nnecting our heritage and our communities.
Our Mission is to: Preserve our unique buildings and collections for future generations so that our communities continue to
discover and enjoy the history of learning.

HITCHIIY BRITISH SCHOOLS TRUST
BRJTISH SCHOOLS MUSEUM
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (coKfiNUED)
FOR THE YE4R ENDED 31,WARCH 2024
Aetivltles to delfiver the strategy
The Board met monthly to review our priorities and Created a short-temi plan to fvrther reduce our expenditure and generate
income through safe ￿ndraising and events.
To ensure the maintenaoc4 repair, eonservalioll and restoration oTthe hLstorle buildings
Thi5 has been achieved by:
G¢n¢ral maintenance perfonned throughout the year
Up￿dirtg the Team Room.
Clearing non-visitOT areas of un-used items and ilems in p￿T repair to gain better access for site condition assessment.
Preserving and developing our Collections as an *uthenlfie resouree for the history of leArning:
This has been achieved by..
Identifying ways to publicise the collections and make them accessible
Publicising the collections to relevant audiences
Creating a schedule for digitisation of texts and artefacts
Assessing the condition of the collections
Developing new exhibitions for the public
Undertaking a public survey to see what the lo¢al community knew about the museum and to understand what they
liked / disliked abo￿ their experience.
Developing our digital profile:
This has been achieved by:
Regular posting on Facebook and Inslagram
Increasing OUT Facebook followers
The play cafe has a regular group of followers

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
TRUSTEES, REPORT (INCLUDING DIRE￿oRs. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2024
Aebievements 4nd perforniance
Total Visitor Numbers
The museums, total audience duTiMg ihe financiaI ye2r was 9.698 (2022f23 6.566).
IliAliCIA .YUBLIC
S("HOOkn . ADULTS
YEAR
, ￿PENING .1 QIILDRE. IVITH
Al's
HOO
CROIIP I, EVENTS
VISITORS
ROOhf
OUTREACH TQT AL
3.948
4.359
626
389
2949
200
1963
14,434
1,813
3,113
547
320
2.833
1.551
11,123
1,684
104
21
52
2,951
2.451
1,419
30
1.457
165
6.113
022123
2,196
2,968
352
141
367
542
6.566
023n4
1.042
3,975
225
IJ30
9.698
Tbe trend indicates that school visits are incrwing. The rewvery is clearly a reflection of the work done by our team. The above figures d(
not include the visitors coming to the Tea Room only. In addition to the above we had ￿ le&st 9,950 adults and children in the café. Giving
a lotal audience to the museum of18.187.
Dollatlons, Grnntsy gifts and legacies
We acknowledge and give thanks to our generous donors and corporate sponsors.
The Restricted Grants obtained in 2023t24:
AIM
Collections Audit
1.320
St
s to Sustainabili
British and Foreign School Society
Tola
Tea Room
Educational use
500
3.320
Unrestricted Grdnts
Fri¢nds of The Hitchin School
Insurance
ceTa
Hertfordshire County Council- locality grant
Total
rint of Book
christr￿ Tree
150
11.753

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
TRUSTEES, REPORT UNCLUDING DIRE￿oRs, REPORT) (CONTINUED)
FOR THE YE4R ENDED 3J MARCH 2024
Donations
We have been extremely lucky this year to receive a large (k)n￿l0￿ without any resirictions to enable us to help match fund for grants to
improve and maintain the fabric of the building. For this we cannot express our gratitude enough.
Friends of the British Schools Museum
10.063
General Donations- with ift aid
90.990
7.857
Donations
Totsl
£109.960
This year we rtt¢ived £4,158 of gift aid. The large donation aiso attracted sift aid but we did not receive this income until April
2024.The FrTends of the British Schools Museum deserve & special menlion for their continuing support moral support through out th¢
year. we thank yOLt.
Learnfing Prngnnjtne
Our learning progrnmme allows children to bring the past to life through role-play, historic lessons, workshops handling
genuine historic artefacts and rnore.
The opportunity to explore and dTscover what life and education would have been like in Georgian. N'ictorian and WWII era
schools. bringing the past io life is now stretching beyond our immediate local area and we are slaning to attract Schools from
farther afield. This is enabling to rdise our edLLcational profile and ensuring we are a go to place for this part of the
curriculum.
General Events
4,992
Fundraising
1.951
Paranorm
7.514
Room Hire
997
Total
£15.454
Events income included a serie5 of talks, a crdft fair, Hallowttn. ghost waIks, recorder c(Jncert. Christmas wreath making and
Santa's grotto, ¢hildrw's iK)ok festival and finally a book launch for William Wilshere's Hitchin FarJn.
Volunteers ILave played a cw¢ial role in facilitating the successful execution of our renowned ParanomMI Events. A grand total
of 338 participants have engaged in vigi15 ￿rO$S various locations. including the Monitorial Schoolroom. Gallery Classroom,
Headmastevs House, and Girls School Corridor. The presence of dedicated volunteers has tnEly elevated this encoL(nter into an
unforgettable and extraordinary experience and we can't thank them enough. This event is increasing year on year.
A whole site event for Halloween w&s the laTgest visitor attstion that ran in 2023. With 204 adults. 286 children over 5 years
old and 35 children under 5 years oll plus Halloween after dark 27 adults, 27 children and l under 5 (Total 580)
We extend our thanks to volunteers who slepped up and encouraged oth¢r5 and provided inspiration and drive to keep the
momentum going throughout the year.

HITCHIN BRITISH SCHOOLS TRUS[
BRITISH SCHOOLS ML.SEUM
TRUSTEES, REPORT ONCLUDING DIREcfoRS' REPORT) (CONTINUED)
FOR THE YE4R ENDED 31 h£4RCH2024
Tradillg
Shop and Tea Room
Income
2D21122
Income
202212J
Income
2022123
Shop in¢ome
Tea Room income
£2,680.24
£2.104.23
£2.315.00
£29 448.11
£68.405.0
The continual development of the Tea Room h&8 brought essential revenue and footfall to the Museum. The Café is accessible
to all. irresp¢ctiv¢ of their museum visiL and ￿l￿)Mpanying the café is a play zone. free with a rnuseum ticket or attracts a
small char8e if only visiting the play zone.
Publlc Benefit
We have referred to the Charity Commission's general guidance of public benefit when reviewing our aims and objectives and in
planning our future objectives. In particutar, we have considered how planned activities will contribute to the aim5 and objectives
we have set. The Trustees are satisfied that the Trnst meels the Charity Commission's guidelines wilh regard to delivering public
benefit.
The Trust's policy is to consult and discuss with employees through team and volunieer meetings. management meetings and
conf¢￿T[ce8 any matteTS likely to affect employees. interests.
Inforn]ation ffgarding matters of concem to employ￿5 and volunteers is given through newsletters, inforniation bulletins and
reports which seek to achieve a common awareness on the part of all employee5 and volunteers of the financial and economic
factors affecting the Trust's performance.
Applications for employment from all sectors of the community are always fully considered.
Volunteers
Volunteer contribution remains essenlial for the museum's acwmplishments. The estimated volunteer houT5 for this year stsnd
at 8,000, although this is likely a conservative figure. Numerous Voluntee￿ invest sigmificant time both off-site and behind the
scenes. providing essentia] support and enhan¢ing the museum's visibility. Additionally. the museum's committed small team of
staff a]so dedicates extra hour5 through volunteering efforts.
The museum acknowledges that volunteering dynamics are ￿01vIng in response to economt¢ conditions. We enthusiastically
embrace young¢r volunteers. however. their en3ag¢ment tends to be of shorter duration with a higher turnover rate. We are
actively exploring strategies to enhance the experience for ouryounger volunl¢ers and enhance their involvement.
We wish to express our grntitude to a]1 the volunteers who have contributed Ix>th on-site and from home. Their dedication and
hard work ar¢ immensely valued, and we extend our heartfelt thatths for th¢ir invaluable supp)rt.
Reserves policy
It is the policy of the Trusi that unrestricted funds which have not been desigtLated for a specific use should be maintained at a
level equivalent to between three and six months. expenditure. The Board of TTUStees considers that ￿serVeS at this level will
ensure thaL in the event of a significant drop in funding. they will be abLe to continue the Trust'5 Cu￿ent activities whilst
eonsideration is given to ways in which additional funds may be raised.
The reserves ￿ of 31 March 2024, totailing £478,132 are."
Restricted funds: £65.758
Designated funds £239.900
General unrestricted funds £172.474

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOK THE YE4R EJVDED 31 K4RCH 2024
Rlsk tnan*gemeDt
The Board has in pl￿¢ an overaIl risk management document identifying wjtential problems of continuing viability. SWOT
analysi5, as well as health and safety matters, which is under constant r￿l¢w. In addition, the Board has approved policy
guidance on the production of safety risk assessments. govemance and management.
The Trust is a company limited by guarantee. having no share capital, and is a registered cEwity. Tbe TNst was incijrporated on
24th January 1991 and is governed by it5 Memorandum and Articles of AssociatiOQ 2s amended on 14th November 2015.
Membership is, at present, limited to 200 and ihe liability of the membeTS in the event of the Trust being wound up is limited to
a sum not exceeding £10 each.
The Board of Trustees, who are also the directors for th¢ putpose of company law. and who served during the year are set out in
the Legal and Administrative Information on pag¢ l.
The Board of Trustees are elected by the members. One third of the Board members are required to Tetire at each AnT)ual
General Meeting (AGM), but each per50n is eligible for T¢-ele￿lon at that time. The Board must comprise at least 4 members
and not more than 12 and it has the power to fill casual vacancies. A Trustee appointed to fill a ￿Ual va¢an¢y must retire at the
next AGM and may be proposed for re-election by the members.
Mr R Atterton
r5 L Saunders
Ms L LTnger
Dr Z Loakthar
Mrs W Watson
ITS A Kikuchi
Ms E Green
Mr D Black
MrFHon
Mrs E Dogan
ehalf of the Board of Trustees
Mrs Lesley Saunders- Chair Trusl¢e
Dated: 25 Nov¢mb¢r 2024

HJTCHIN BRITISH SCHOOLS TRUST
BIUTISH SCHOOLS MUSEUM
TRUSTEES, REPORT (INCLUDING DIRE￿oRs, REPORT) (CONTINUED)
FOR THE YE4R ENDED 31 Tr£4RCH 21124
Plalls for futhre periods
oking for new revenue streams
Fund raising opportunilies
Explore new ways to use the Collections
Explore ways to use the Buildings. as an achieve research centre
Obtain grants to ensure the buildings remain in good repair.
Finance
Train all staff in use of financial systems and pro¢¢sses
Maintain scrutiny on financial operations
Gain financial sustsinability by levelling running costs and guarantred income.
People
Prioritise volunteer recruitment for event organisin& social collections and volunteer management
Ensure that there is appropriate Cover available to oper*e the play cafe to its full potential.
Bulldlngs
Obtain quotes for building repairs
Upgrade the heating system
Up￿dIng the cloakroom toilets water supply
Digitxl
Increase social media channels and profile
Review online booking
Look at cloUd-b￿d se￿¢r$
Collection management system lo b¢ reviewed
Commerci41 TradiDg
Re-imagine the museum shop
Review the museum brn7d
Develop the Play Cafe experience
Learning & educatlon
Increase the number of schools visiting and teacher engagement
Investigate viability of infornial leaming through ¢hildren's parties and day-time activities
Further develop the site as a communtty asset with free enty events and supw)rting local businesses and charities.

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
INDEPENDENT EXAMINER'S REPORT
TO THE BOARD OFTRUSTEES OF HITCHIN BRtrisH SCHOOLSTRUST
I report to the Board of Trustees on my examination of the financial statements of Hitchin British Schools Trust (the Trust)
for the year ended 31 March 2024. which a￿ set out on pages 11 to 27.
This report is made solely to the charitsble ¢ompany'5 trustees, as a body, in a¢¢oTdance with Chapter 3 of Part 16 of the
Companie5 Act 2006 and the charitable company's trustees as a body in accordance with section 154 of the Charities Act
2011. My independent examinerfs work has been undeTtak¢n so that I might slate to the charitable company's trustees those
matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extenf
penJ]itted by law, I do not accept or assume resp)nsibility to anyone other than the clwitable company. the charitable
company's members as a body and the ¢haritabl¢ companys trustees as a body. for my independent examinevs worl foT
this repor¢ or for the opinions I hav¢ formed.
Responsfibllitl￿ and basts of report
As the Board of Trustees of the Trust (and also its directors for the purposes of company lawl you are responsible frir the
preparation of the fmancial statements in a￿rdance with the requirements of the Companies Act 2006 {the 2006 Act).
Having satisfied myself that the financial ststements of the Trust are not Yequired io be audited under Part 16 of the 2006
A¢t and are eligible for independent examination. I report in respect of my examination of the Trust's financial statements
carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all
the applicable Dir¢¢tions given by the Charity Commi55iou under section 145(5)(b) of the 2011 Act.
lftdependellt Cxamiller's 5tstemen¢
Since the Trust's gross in¢oFne exceeded £250,000 your examiner musi be a member of a body listed in section 145 of the
201 l Act. I confirni that l am qualified to undertake the examination because I am a member of Institute of Chartered
Accountants in England and Wa1¢5, which is one of the listed bodie
I have completed my examination. I confirni that no matters have come to my attention in connection with the ¢xamiDation
giving me cause to believe that in any material respect:
accounting records were not kept in respecl of the Trl￿ as required by sertion 386 of the 2006 Act" or
the financial slatements do not ¥wrd with those records. or
the financiaI statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an independent
examination; or
the financial st*ments have not been prepared in accordanee with the methods and prin¢ipl¢s of the Stalement of
Recommended Practice for accoun¢ing and reporting by charities applicable to charities preparing their accounts '
accordance with the FinaJ)cial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
I have no concems and have come acriJs5 no other matters in connection with the examination to which attention should be
drawn in this report in order to enable a proper understanding of the financiaI staiements to be reached.
KK_Qty•
Mark Hjert2en B
CA
H W Associates Limited
Dated: ...
10-

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HITCHIN BIUTISH SCHOOLS TRUST
BRtTISH SCHOOLS MUSEUM
BALANCE SHEET
ASAT31 AURCH2024
2024
2023
Notes
Ffixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand
12
248.647
265,322
13
14
1.489
7.110
230214
2.535
12,749
153J33
238.813
168,617
Crtditors". amounts fydlling due within one
year
15
(9.328)
(10,9201
Net Current assets
229,485
157,697
Total a$8¢ts less current liabilities
478.132
423,019
Income funds
Restrithd funds
Unrestricted funds
18
65,758
411374
75,992
347.027
478,132
423,019
The Company is entitled to the exemption from the audit requirement eontained in section 477 of the Companies Act 2006. for
the year ended 31 March 2024.
The direcwrs acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to
accounting records and the preparation of fmanciaI sL*ments.
The memb¢r5 have not required the rornpany to obtain an audit of its financial statements for the year in question in accordance
with section 476.
These financial ststements have been prepared in accordance with the provisions applicable to companies subject to the small
companies regime.
The financial ststements were approved by the Board Of T￿￿e¢S on 25 November.
rs L Saunders
Trustee
Compally Reglstration No. 02576495
13

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS IVIUSEUM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YE4R ENDED 31 JK4RCH 2024
AetountjDg polAeies
Charity inforni*tion
Hitchin British Schools Trust is a private company limited by guarantee incorporated in England 2nd Wales. The registered
office is 41142 (￿¢¢n StreeL Hitchin. Hertfordshire, SG4 9TS.
1.1 Accounting couvenlioD
The accounts have been prepared in accordance with the Trust's g0￿MIng docurnenL the Companies Act 2006 and
"Accounting and Reporting by Charities: Statement of Recommended Practice 4)plicable to ¢harities preparing their
ac¢ounts in accordance with the Financial R¢porting Standard applicable in Ihe UK and Republic of Ireland {FRS 102)-
las amended for accounting periods commencing from l January 2016). The Trust is a Public Benefii Entity as defined by
FRS 102.
The Ttust has taken advantsge of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to
prepar¢ a Statement of Cash 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 th¢ nearest £.
The financial ststements have been prepared underthe historical cost Conventio￿ The principal accounting policies adopted
are set out below.
1.2 Going collccrn
At the time of approving th¢ financial Statements, the Board of Tn￿eeS have a reasonable expectalion that the Trust h
adequatr resources to continue tn operaiional e.Yistence for the foreseeable future. Thus the Board of Trustees continue lo
adopt th¢ going concern basis of accounting in preparing the financial stalements.
IJ Charitable funds
UnresÉri¢ted funds aTe available for Use at the discretion of the Board of Trustees in furtherance of theiT charitsble
objectives.
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 fun& are subject to specific conditions by donors that the capital must be rnaintsined by th¢ Trust.
1.4 Income
Income is recognised when the TrLLSt is legally entitled to it after any perforniance conditions have been meL the amounts
can be measured reliably, and it is probable that income will be received.
Cash donations are rewgnised on receipt. Other donations are recognised once the Tn]st has been notified of th¢ donation,
unless perfomiance Conditions require deferral of the amount. Income tax recoverable in relation to donations received
under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Trust has been llotified of an impending distribution, Ihe amount is
knowrL 2nd Teceipt is expected. If the amount is wt known. the legacy is ttealed as a contingent &sset.
14-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMEiYfs (COP4TINUED)
FOR THE YE4R ENDED 31 MARCH2024
Aecouoting policies
(Continued)
1.5 Expenditure
Expenditur¢ is F￿0g1]iSed once th¢Te is a legal or conslructive obligation to transfer economic benefit to a third paty, it is
probable that a transfer of economic benefits will be wuired in settlemenL 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 cost5,
including support Wsls involved in l￿dertakIng each activity. Direct costs attributable to a single activty are allocated
directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable
to a single activity are apportioned betw¢en those activilies on a basis consistent with the use of resour¢es. Central staty
o)sts are allocated on the basis of time spenL and depreciation charges are ￿loCated on the portion of the a5set'5 use.
Expenditure is recognised on an d￿nIa15 basis when a liability is incurred, as soon as there is a legal or constructive
obligation committing the charitable company to the ¢xpenditure. Expendithre includes any VAT which cannot be
recovered, and is reported &s part of the expenditure to which it relate
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for
fwjdraising PUTposes including ihe cafe and the shop.
Charitable expenditure comprises those costs incurred by the charitsble company on the delivery of its acttvities and
services. It includes both costs that can be allocated directly to su¢h activities and those costs of an indirect natUTe necessary
to support them.
Governance costs include those costs primarily with mttting the Consti￿li0na] and statutory requirements of
the ¢haritable company and in¢lude the T¢￿rtIng accountants and legal fee5 and costs linked to the charitable company's
compliance with regulation and good practic¢.
AII Costs are allocated betwttn the expendithre categories of the Statement of Financiat Activities on a basis designed to
reflert the use of th¢ r¢source. Costs relating to a particular activity allocated direcily: others are apportioned on the
basis of ¢stimat¢s of the proportion of time spent by staff on those activities.
1.6 Tangible r￿ed assets
Tangible fixed assets are inilially measured at cost and subsequently measured at cost or valuation, net of depreciation and
any impaiTrneni105S¢S.
Tangible fixed assets are st*ed at cost less depreciation.
The school land, together with the original school buildings, was purchased by the Trust in 1994. The Trust is resw)nsible
for keeping the original buildings in fit and useful condition, and these costs are written off as incurred.
Conservation, renovation and restoration of the buildings. constituting improvements subsequent to the original purchase.
costing more tEwL £5,000 are capitatised and carried in the ba]ance sheet at historical WSL Land is not depreciated.
Heritage &ssets have not been capitalised or deprffiated as no reliable value can be attributed.
Depreciation is provided at rates calculated to writr off the cost less estimated residual value of each asset over ils expected
useful life, as follows:
Land and buildings
Building renovation & restoration
Fixtures, fittings & equipment
2Yo
Variable yo
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is d￿erMined as the difference between the sale proceeds and the
carrying value of the asset, and is recognised in the 51atem¢nt of financial xtivities.
15-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL sTATEmE￿s (CONTINUED)
FOR THE YEAR ENDED 31 A£4RCH 2024
Accounting polieies
(Continued)
1.7 Impalrment of fixed 88s¢ts
At each reporting end date, the TTU5t reviews the carying amounts of its langible assets to deterrnine whether theTe is any
indication that those ￿ets have suffered an impaiment loss. If any such indication exists, the recoverable amount of the
asset is estimated in order to deterniine th¢ extenl of the impai￿entIo55 (if any).
1.8 Stoeks
Stocks are stated at the lower of cost and estimatrd selling price less costs to complete and sell. Cost comprises direct
materials and. wher¢ appIl￿ble. direct labour wsts and those overheads that have been inrurred in bringing the stocks lo
their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of
replacement cost and cosL
Net realisable value is the estimated selling priee less all estimated costs of completion and costs to be incurred in
marketing, selling and distri1￿tIOn.
1.9 Cash and csish equivalents
Cash and cash equival¢nts include cash in han(L deposits held at call with banks. other short-terni liquid investments with
origina] matUTities of three months or 1¢5s, and bank overdrafts. Bank overdrafts are shown within borrowings in current
liabilities.
1.10 Fin#nclal Instrnlnellts
The Trust has elected to apply the provisiotL8 of Section I I "Basic Financial Inslruments. and Section 12 '0ther Financtal
Instnllnents Issues. of FRS 102 to all of its fJnan¢ial instrurnents.
Financial instruments are reco8nised in the TTUSt'5 balance sheet when theTrust becomes party to the conlrnctual provisions
of the instrument.
Financial 8sgets and liabilities are offset. with the net amounts presented in the fmancial statements. when there is a legally
enfor￿ab]e right to set off the re¢ogni5ed arnounts and there is an intention to settle on a net basis or to realise the asset
and settle the liability simulianeously.
Basicfinanci4vI a55ets
Basic financial assets, which include debtors and and bank balances, a￿ initially measured at transaction price
including transaction costs and are 5ubs4u¢ntly carried at amortised cost using the effeclive interest method unless the
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts
discounted at a market rate of interest. Financial assets classified &s receivable within one year are not amortised.
Boficfinancial liabilities
Basic f￿ancial liabilitie5. including creditors and bank loans are initially recogni5ed a¢ tran5adion price unless the
arrangement constitutes a financing trartsaction. where the debt instrument is measured at the present value of the firture
payments discounted at a market r&e of interest. Financial liabililies classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised wst. using the effective interest rale method.
Trade creditors a￿ obligations to pay for goods or seTvices that have been acquired in the ordinary course of operations
from suppliers. Amounts payable are cl&ssified &$ current liabilities if payment is due within one year or less. If no( they
are presented as non-current liabilities. TTade creditors are recognised initially at transa¢tion price and subsequently
measured at amortised Cosi using the effective interest method.
Derecognikion offinancialliabililies
Financial liabilities are d¢re￿gniSed when the Trust's contractual obli8atiQll5 expire or are di￿harged or cancelled.
16-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YE4R ENI)ED 31 K4RCH2024
Aeeounting polieies
(Continued)
1.11 Employee belleflts
The cost of any unused holiday entitleTneDt is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the Trust 15 deMO￿trablY committed to tem)inate the
employment of an employee or to provide tennination Ixnefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes aff chwEed as an expense as they fall due.
Donatio08. grants* gifts and legacies
URrestri¢ted Unrestrl¢ted
funds
futtd$
general
Tolal
2024
Total
2023
Donations and gifts
Grants receivable for core activities
109.960
15.073
109.960
15,073
17,225
52.793
125.033
125.033
70,018
For theyear ended 31 March 2023
43.208
26,810
70.018
Donated goods and serviees
The Trust benefits greatly from the unpaid support of it5 volunteer5. In accordance with FRSI 02 and the Charities SORP
(FRS102) the economic contribLttion of general volunteers is not recogni5ed in the accounts.
17-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOtS MUSEUM
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED31 MARCH2024
Charitable 4etivities
Museurn and Museum and educational
educational
proErammes
programmes
2024
2023
Sale of goods
Perfom12nce related grants
36.490
33,466
9.350
36.490
42,816
Analysis by filnd
Unreslrided funds- g¢neral
Restricted funds
36,490
33.466
9,350
For the year ended 31 Mareh 2023
Unrestricted funds- general
Restricted funds
33.466
9,350
42,816
Performance related grants
9,350
Income from other trading a¢livities
Unrestricted Unregtrieted
funfts
fund5
2024
2023
Fundraising events
Shop income
15.454
71,195
12.512
31.763
Other trading activities
86.649
44.275
18-

HITCHIN BRITISH SCHOOLS TRUST
BIUTISH SCHOOLS MLSEUM
NOTES TO THE FINANCIAL STATEMEIYTS (CONTINUED)
FOR THE YE4R ENDED31 MARCH2024
Income from investments
Unrestrlcted Unrestricted
fund5
funds
2024
2023
Interest receivable
3,015
730
Expelldi￿re on rafising funds
Unrestricted Unrestrlcted
funds
funds
2024
2023
Costs of fundraising evellts and room hire
Sta8ing fundraising events
3.007
1,037
Cafe and shop expettdiknre
Other tyading activities
13,518
6,759
Total costs
16,525
7.796
19-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EJVDED 31 MARCH 2024
Charitable activities
Museum and Preservatlon Malntenanee
educational
nd
of historic
prngrnmmes exhibition of
buildings
collections
Totsl
2024
Totxl
2023
2024
2024
2024
Staff costs
Depreciation and impairnient
Exhibition and conservation costs
Schools progrdmme costs
Repairs and maintenance
Staff and volunteer training and welfare
Other costs
98.587
16.674
652
4,575
98,587
16.674
756
4,575
11.304
45,508
16,645
3,968
1,356
23.973
2.154
900
104
11.304
147
147
120,635
104
11,304
132,043
94.504
Share of 5UPPOrt ¢05t5 (see note 8)
Share of governance costs (5tt note 8)
21,456
8.733
12,757
4,560
34,213
13,293
41.587
10.001
150.824
17,421
11,304
179,549
146.092
Allalysis by fund
Unrestricted funds- g¢neral
Unrestricted funds -
Restricted funds
137.908
17.421
11,304
166,633
110.571
19.063
16.458
12.916
12,9l6
I50￿24
17.421
11.304
179.549
146.092
For the year ended 31 M#reh 2023
Unrestricted fvnds - genernl
Unrestricted funds -
Restricted funds
84.519
19.063
16.458
21,142
4.910
110,571
19.063
16.458
120,040
21,142
4,910
146,092
-20-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YE4R ENDED 31 MARCH2024
Support tosts Allo¢2ted to adivities
2024
2023
Support costs
Support costs
Support costs
Support costs
Support cos
Governance costs
19.115
3,980
5,122
4,857
2.935
11,497
19.587
4,883
3,235
11.520
2,362
io,ooi
47,506
51,588
Allaty5ed between:
Support costs
Governance costs
36,009
11,497
41.278
10,310
47,506
51,588
Net Movement in funds
2024
2023
The net movement in funds is ststed after chargingl(crediting):
Depr¢¢iation of owned tangible fixed assets
16,674
16.645
io
Board ofTrnstee$
None of the Board of Trustees (or any persons wnnected with them) received any remuneration during the year.
None of the Board of Trustees had out of tKpcket expenses. no reimbursement was required (2023: £nil reimbursement).
The aggregate amount of donations received from Trustees during the year was NIU2023." £nil).
Tax*tioB
The Trust is a regiSte￿d charity and therefore is not liable to income tax or corporation tax on income or gains derived
from its charitable actLVlties, as they fall wtthin th¢ various exemptlOll5 available to r¢gistered ¢haritie5.
-21

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MLSEUM
NOTES TO THE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YE4R ENDED 31 A£4RCH 2024
12 Tangible r￿ed Assets
Land arKI
8uil(fing
Fixtures,
buildings rnnovation &
fittings &
restoration equipment
Total
Cost
At l April 2023
180,000
127,896
172.585
480,481
At 31 Ma￿h 2024
180.000
127.896
172.585
480,481
Depreciation and impairnient
At l April 2023
Depreciation charged in the year
33.600
1200
49,846
2.558
lil.714
12,916
215.160
16,674
At 31 March 2024
34.800
52.404
144.630
231.834
Carrying amoullt
At 3 l March 2024
145200
75,492
27,955
248,647
At 31 March 2023
146,400
78,051
40,871
265,322
13 S¢ock8
2024
2023
Finished goods and g(M)ds for resale
1,489
2,535
J4
Debtors
2024
2013
Amounts f4lllng du¢ withlm oll¢ y¢ar:
Trade debtors
Other debtQTS
Prepayments and ￿¢ru¢d inrome
6,864
246
4,228
246
8,275
7.110
12.749
IS Creditors: amounts f&llillg due witbkn ODe ye2r
2024
2023
Other t￿atIon and Social Security
Trad¢ creditors
Other creditors
Accruals and deferred income
382
5.607
936
2,403
696
5.438
386
4,400
9.328
10,920
-22-

HITCHIN BR￿ ISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 AURCH2024
16 Retirement benefit schemes
2024
21123
Defilled contribution schemes
Charge to profit or loss in respect of defined contribution schemes
1.397
1,202
The Try￿1 operdtes a defined Contribution pension scheme for all qualifying employees. The &ssets of the scheme are held
separately from those of the Trust in an independently administered fimd.
17 Unrestricted funds -
These are unrestricted fund5 which are material to the TnJsV5 activities.
At l Aprll 2023
In¢oming
resources
Resourees
expended
At 31 March
2024
239.900
239,900
Previous yeydr:
At l April 2022
Incoming
resources
Resovr¢e5
expended
At 31 March
2023
26,810
(19.0631
239,901
-23-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FlNANCIALSTATEME￿s (CONTINUED)
FOR THE YE4R ENDED 31 MARCH 2024
18 Restricted funds
The restricted fvnds of the charity comprise the unexpended balances of donations and grants held on trI￿t subject to
5p¢cifi¢ conditions by donors as lo how they may be used.
Movement in
fullds
Incomlng
Balance at
Yesources 31 March 2024
65,758
-24-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MUSEUM
NOTES TO THE FIf4ANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2024
18 Restritted fund5
(Continued)
Colleclions Fund
This fund represents various donations which have enabled the purchase of conservation materials and cataioguing
facilities for the Collections.
Comptlter & Telephone Fund
This fund represent5 donation5 and grants to cnable the Trust to upgrade its computers and telephone systems. Pern)ission
was obtained to de-restrict and release to genern] fim4t
Arts Cowicil Englond Cglthre Recovery Funding
This fund repr¢5ents grants to fund an intern to assist the Curator with the collection. Perniission was obtained to de-
restrict and release to genernl fimd.
Small ilemx
This fijnd represents a number of small grdnts and donations for a variety of PUTPK)ses.
Associalion oflndependeni Museums
This fund represents grants from the Association of Independent Museums Biffa History Makers scheme.
Fixed assel ￿SerVe
This fijnd hold5 the net Ix)ok value of assets purchased using restricted capital funds.
Keeping Your Truslees On Track
Thls fund repre5¢nts grants to 5UPPOrt the trustee ly)ard development and transition worlL
Ileritage Compass
This thnd represents grant ￿ fund the development of essential skills in business planning. audience development,
leadership and change management. with the aim of creatingabetter connected, infonned and r¢silient heritsse landscape
across England.
Bringing Laughter Back io Pl¢Jyground
This fund repre￿nts a grant to increase the interpretation of the playground to include introducing a new schools, session
where they learn about and play traditional games.
Kickstart Scheme
This fund from DWP represents grants help to provide six months of paid employment for young people including
employability support to develop their work skills and to help them find future employmenL
STOS
This fund represents funding for social entery)rise.
SIL4RE-Toward,N'ei Zero Carbon - {Lighiirtg)
This ftmd represents grant for lighiing.
Herifordshire Literacy
This fund represents a grdnt to cover core costs over the Covld 19 lockdown.
her items
This filnd represents smalJ granls for variety of purpose5
-25-

HITCHIN BRITISH SCHOOLS TRUST
BIUTISH SCHOOLS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YE4R ENDED 31 AURCH 2024
19 Lnrestricted fund5
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to
specific conditions by donors grantors as to how they rnay be used. Th¢5e include designated funds which have been
set aside out of unrestricted fwids by the trustees for specific purposes.
At l April 2023
Incoming
resourees
Resources
expended
Trallsfers At 31 March
21124
General funds
107.127
251.187
(183.158)
(2.682)
172,474
Prevlous year:
At l Aprfil 2022
Incoming
resources
Resources
¢xpeoded
Transfers
At 31 March
2023
General funds
145.485
121.679
(118.367)
(41.671)
107.126
School Buildings Designated Fund
The Board of Trustees has taken the prudent decision to d¢signat¢ this fund at the carrying value of th¢ freehold land and
buildings and associated Tenovalion and restoration Costs because the school buildings are intrinsic to the charitable
activities of the Trust and do not represent free rese￿.
Computer Fund
The Board of Tn]stees ha5 tsk¢n the decision ts) desi8n* ihis fund to replace obsolete infonnation technology within the
museum that se￿e the charitsble activities.
20
Analysts ofDet gsg¢ts between fDnds
Unrestricted
runds
De5igtbated
funds
Restricted
funds
Total
2024
2024
2024
2024
At31 March 2024:
Tangible assets
Current assetsl{liabililies)
8.747
l63.727
239,900
248,647
229,485
65,758
172.474
239.900
65,758
478,132
-26-

HITCHIN BRITISH SCHOOLS TRUST
BRITISH SCHOOLS MtiSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 WCH 2024
20
An21ysis of net assets between funds
(Continued)
Unrestritted
funds
Deslgtt2ted
funds
Restrlcted
fuuds
Total
2023
2023
2023
2023
At 31 March 2023:
Tangible assets
Current Lgset&l{liabilities)
25.421
81.705
239.901
265.322
157,697
75.992
107.126
239.901
75.992
423.019
21 Operating lease comrntlments
Lessee
At the reporting end datetheTtust had outstanding commitment5 for future minimum lease Paytn¢nt5 under non-¢an￿lIable
operating leases, which fall due as follows:
2024
2023
Within one year
994
22 Related party traosactlODS
Transactions with related partles
During the year the Trust entered into the following transactions with relatrd partics".
The T￿￿t 15 SUPPOrted by the Friends of the Hitchin British SCI￿OIs Museum ('the Friends"). an independent charity
(registered number 1016659) which make5 donations to the TrusL
-27-