The Dacorum Heritage Trust Ltd
Trustees, Annual Report and Financial Ststements
Year Ended 31 March 2021
Charity registration number.- 1026161
Company registration number: 2851313

The Dacorum Heritage Trust Ltd
Financial Statements
Year Ended 31 March 2021
Contents
Page
Charity Reference and Admintstrative DetaiLs
TfUStees' Annual Re
IrKlet*ndenl Examinerfs Rep)rt
Slatemenl of Ffflancial Ad￿ryt￿S
10
Balanc￿ Sheet
11-12
Notes lo the Financial Statements
13-22

The Dacorum Heritage Trust Ltd
Charity Reference and Administrative t)otails
Year Ended 31 March 2021
Charity regislrntion number
1026161
Company regtstfation number
2851313
Accredited Museum Number
1594
Trustees
A Andetson
A A B8rt1am (Apwirrted December 2020)
S W GIN (Resigned September 2020 and Re
appointed May 2021)
S H Gregory (Appointed NO￿rnt￿r 2020 aThJ
WEsuned May 2021)
L C McAwa(d-IPthile (AFy)Ènted Octobpr 21)20}
FJPage
Dr S L Ralph (Apm)inteO PAarch 2021)
J M Sparks
C V T Walsh IRes•Jned October 2021)
N J IMMVO￿j (Appointed May 2020 and
res*Jned October 2021)
Registered Office
The Museum Store
Cla￿nce Roaj
Berkharn￿ed
Hertlorttshire
HP4 3Yi
Solicitor
Macthins Soliclto￿ LLP
295.299 HKJh Street
Berkham5ted
HP4 1AJ
Bankers
CAF Bank Ltd
25 KirKJs Hill Avenue
ngs Hill
West MalhwJ
Ke
ME19 4JQ

Tlk Dacorum Heritage Trust Ltd
Trustees, Annual Report
Year Ended 31 March 2021
The Tnjstees F*esenl their annual report the indepern1ently examined accounts of the charity for the
year ended 31 ma￿1] 2021.The Trustees have ad0￿ed the promsions of the Slatement of Recommended
Practi(* (SORP) "Ac£ounting and Reporting by Charittes" (FRS 102) in p￿paring the annual ￿P)rt and
financial stalements ofthe chaw.
The financial statements have been P￿arEd in accordan￿ with the arxx)Unt￿7ry p)licies set out in notes to
the accounts and compty wilh the c*atTiy'5 goNEming document. the CharTknes A(# 2011 and Acujunling and
Reporting by Chaiittes.. Statement of RecommerKJed pra￿￿ applicable to chaiities preparing their accounts
In accor(lance with the Financial Reportiro StaTKlard applicatsle In the UK and Republic of I￿land (FRS 102)
{effectNe 1 January 2019>.
Trustees of the charity
The ditEctots of the charitable company are rts Truslee5 for the purposes of charity I￿. The Trustees who
have serMEd during the year and since the year end were as follows.
A Anderson
A A Barham (AppjWrt￿J Dec￿er 2020)
S W Gill (ResvJned SeptemL*r 2020 arbj Rep
appointed May 2021)
S H Gregory (Apwinted No￿rnber 21)20 and
S￿￿e(l May 20X)
L C McAward-lélJhite (Appoinied Ctlober 2020)
FJPage
Dr S L Ralph (AppoinipA Marth 2021)
J M Sparks
C V T WaLsh (R&wned Octoter 2021)
N J V4lnwood {Apwinted May 2020 and resbned
O(lober 2021)
Objectives and activitles
The mk%sion ofthe Tft￿l is connecaing aThJ inswing (￿MMUnitieS through k1￿ heritage.
The Trusl's otiedives as set out in Ihe Articles of hssocr*ion arp the adwancement of education in the
Borough of Dacornrn by
aL4uiring, housing. exhtthg, cxJnserviThJ restoriThJ aThJ ￿lring objeds and cximections of an
hi%toric81 and or educat￿nal nature
e￿ablishing. a￿UinrKJ, managing. and maintaining TrAJseurr6. galknies, Thbrnries, and olher places
where those actNities are athieN*d
research arttl eroury and the exchange aThJ dissemtnation of Vie￿ and inf0M￿tiOn rnay occur.
The Trustees havE pa¥J due regatil to gui1ance on pUb￿C benefft issu&J by the Charity Commission in
dechjing what artivths the Tnjst shoukj undertake.
The Trust w0￿S wrth ￿TrThUnty partners and other voluntary oroantsaiions to deliver an engaging
prryJramme of events for a local audience thTDugh a variety of media. We also engage audiences through
Social media posts, via our websile and our neNsletter. maintain hKJh slandar(Is of collections care and
conservation preserving the heri1*3e of Dao)rum for the benefft of OUT CL)mTnunit￿s and fijkure generations.

The Dacorum Heritsge Trust Ltd
Trustees. Annual Report
Year Ended 31 March 2021
The Trustees wnise that there is 8 sKJntfurrt input to the Trust's achievements from the contribution by
the many volunteers. To quantfy thk8. the Trustees have Us￿, as a basis for its c8lculatM)n of Ihe a(Lepted
valuation of personal commitment of their labour contrkntion, the fomiulas adopted ty the He]i18ge Lottery
Fund. Based on these formulas a minimum ￿dIUation for the year woukl be more than £37,000. This is
s•Jnfficantty less than prior year5 due to the impart of Cov¥J on the operatton of the Museum StotE.
FurthemKsre, these accounts do not re(thJnise the vahje of expenses not Claim￿ by Trustees and
vdunteets, nor of honoraria waived.
Achievern￿ and perfonnan¢e
Throughout the pertod urKler review The D8corum Herrtage Tntst ha5 tttn impacted by the CO￿ -19
pandemio We had to quickty adao to 8 way of working and adjust our aUd￿nCe engagement plans to
reflect 8 world in lockdown. We conlinue(r to work in partnetsh]"p with Dacorum Borough Council (DBCI and
numerous local organi5ations to supw)rt acc￿5 to herrtage acruss the tM)rough and fo¢u5ed our
engagemerrt on those ¢ommunhies' facing iSola￿n because of the pandemic. We used £4,916 grarrt
funding obt81n&J fium DBC Corrynunty Grant FuThJ, Te￿ GrourKlwoths a￿1 HAM to support heritage
proje(As thffjughout the year.
Our usual main exhibttion was cancelled due lo Covid-19 arn1 we repurposed fvnds for this to produce 2
remlniscence films for caTr home and eiderly resKlents in the ￿rOugh. We engaged g young people in the
making of these films who leamed about Ihey local heritage in a unKiue way as well as gaining film making
experience. The fitms have Sin￿ been shared wilh care home and two memory groups in the tK)rough
and will conlinue to form part of our re￿￿nISC￿n¢e offer. Extracts have aLso teen Mewed thou58nds of times
on soctal media, tecomff￿ our wjwlar Social media w5ts over the year. We have also used funds to
purchase handling materia15 Ihat support the themes of the which will add a new element to sparkino
memory now that handlirrfJ sessions arE [￿l￿￿e again.
At the bEry Start of the parKJemic. we qUK*ly adaprted to the of our community and taunched
'stockpiling Stories., an inter-generational projert whK* saw young tEOF4e askn.ng eklerfy resKtenls of the
borough about their chiklhood experien(￿ in the a￿a. This gave socialty isoiated adulls the opwortunity lo
contribute their 5torie5, help young people leam a￿ut their herltage arKA add to our collection whilst young
people, leaming al home r&her than School were atAe to develop their skjlts of hrstorical enquiry whilsl
learning aboul local history. This was a very Su(J￿5[u1 projeci for the 11 chik1￿n 8 adutis involved an(J
was shot￿lsted fvr a nalional K•Js in Museums award for Going the Extra the Mile.
We 8&0 created Sha￿ fve 4&Min￿e on&ne presertst￿$ on WdfK)us bxal history themes th8t to date
have collertNety been viewed 166 times. We also cteated a short film to celebrate VE day in Ileu of the
cancelled in-person actiwties and thi5 has Leen viewed 158 times. We aL80 cortinued to ertgage with an
online audience vla social ffiedia with 1093 Fa￿l￿)0k followe￿ and 565 Inslagram folowet5 at the etKJ of
the perioxj. as well as 19,599 you tute views. This is a growing audtence ihat we ha￿ (tyntinued to develop
further.
Throughout the period under review, we were unable to make school visrts and for much of the year we were
also unable offer a k)alls tox servtce due lo WO￿ from home guKlance and school closures. However, foi the
halftenn where this wa5 ￿SSIble. we eThJaged 166 wpils with 3 loan ix)xes.
The Twst has maintaine(J ts status as an a(X¥Bdft&J nTr￿m in Dacoium with the renevrdl now due in 2022
due to CovKI-19. Throughout the ￿[1(￿￿ under reviv•4. we conlinued to cate for the collections through
effecttve collections management org8ntsational slr8tvJy. We secured a Coltections Care Audtt Grant
that has Since been caffied out and Ihe recommendAtions from this ha￿ been incorw)rated into our
Coltedion Care pLgn arKJ will infot7n our luture a(knns. We continu81ty wotk towards Improwng our
colledions care, reviewing our Strategies to fvlfil the current guidelines in eouections cafe. This has incjuded
l12￿1ftg with local societies to develop an alternati￿ to k)ng term loan agreements. Throughout the period
under review. we were able lo meet virtually with ￿prEsentatI￿*S from h)cal societies to discuss th￿r needs
and present our own plans. At the end of the peri(xJ uNler ThiiLY this was an ongoing dtscussion and we
have (Xjntinued to work with our key #akehohaers. widuding OBC and the k)cal societies to plan.

The Dacorum Heritage Trust Ltd
Tru5tees' Annual Report
Year Enc*d 31 March 2021
Financial review
Income and endowments for the year to 31al Marth 2021 was £69.227 (2020 - £82,682). After total
expenditu￿ of £57,030 (2020 - £82,549) there was nel income of £12,197 (2020 - £133). Thts is splrt
between unrestiided 8tMJ restrKled furvJ5 as folkAvs:
ed Funds
The Tnjst had a surplus in Ihe year of £12,181 (2020- £1.103) on Unre5tn(*￿ funds. The balance a the end
of the year was £111,954 (2020 - £99,773). The surFAus arose due to a signifiLWrt reduclion in Gos15
because of CovM&19 lockdthvll arrangement.
The Trua is relianl on fuThYtng from Da￿rUM BOr(m￿ Counci LThited funds are raised from other sources.
Plans to inCTease income fiY)m fiJThJ r8ising were put on hokj dUri￿j the year. However. thi5 is a hYJh prioiity
for the Trustees in 2021-2022.
Restricted Funds
The Trust had a sury>hJs in the year of £16 (2020 - £2.770 tJefoi) on restricaed fvrK15. Tre balance * the end
of the year was £46,199 {2020- £46.183).
Reserves P li
The Trust hokts reserNes forthe foll(pwiThJ sftuations:
Corfngerkcy- ￿neX￿d￿j eynditure in the *defti of an emergency
Cashflow- Siluat￿nS where a ￿11 has to paKI before the money to cover it has been ￿CeNed
Commitment- a commrtmenl to ex[￿d[l￿re whth cannot be Co￿red by the annual income
ctosure - the charity become financ￿llY unsustsinable and has to be wound up.
The ¢U￿errt reseNes po￿ is to hokl as reserves a surn ￿Ul￿aknt to 9 rnonths of runnffy costs for the
Museum Store whth is £50.0￿. The amount of unrestricted reseNes 31# March 2021 was £111.954 (2020
- £99,773). The wlicy has twn rewewed (￿n5￿Je￿ing the Continu￿ Impad of the Covi&19 Silual￿n and no
cthange is tKowsed by the dilectots.
Slructure, govemance and managemerrt
The Trusl is a company ￿Mit￿l ty guarnntee, incorpor21&l in Setrtemttr 1993 8ThJ T￿Istered as a c*arity
SeFrtemlkr 1993. It is govern￿j by its artths of a&s¢￿tIon.
The Trustees are re(¥uiled from W1untee￿ prepar&J to offer their time to the deve]owent of the Trusts
objectives.
None of the TnJstee5 has any beneficial interest in ￿ company. Member5 of the company guarantee to
contribute £10 in the event of a wThJir¥J up. Direotors are required to be memters of the coTT]pany.
The Trust is managed on a day-to-day basis by a ColleGtN)ns Manager, Co1￿ctIOnS Assistant and Finance
Man8ger employed to work under the guirlance and direction of the Board of Direclors of the TWSL
Empkjyee sakqries are determined Ihe Board of D￿e¢lOTs in a(lordan￿ wlh the Trust Pay Polioy.
Reguiar man*Jemerf meetinos are hekl t￿n the Tntslees and staff to ensure the wogress of thaTttable
activi￿ and the effeth day to day nJnnhvJ of the Tn
There were no transadions with related part*s duriNJ the yearthal rv]uir￿1 rerKJitiTrJ in these accounts.
The Trustees have assessed the major risks to whith the Tntsl i% exp)sed throLvJh ils risk management
statement and a￿ s*isfied tIM)se systems are in rAaGe to mitvJate ex￿]SUre to the malor rists.

The Dacorum Heritage Trust Ltd
Trt￿tees, Annual Report
Year Ended 31 March 2021
Strategic report and forward4ooking plans
Over the next three years the Tnjsl faces some Sh]nff￿nt thatlenges and wiTh need to make some str*egio
changes if it is to be susiainable for the future. The Dacornm Borough Council has undertaken a rewew of
Heritage Servrces in the Borough in whth the Tnjst fvlty part￿ipated aloTWJ wilh other stakehohjers. The
outcorw]e of that remew is currently awaited. The TDJSt entered inlo a dtalogue wilh ]ocal hetitage societies lo
understand their tEquirements.
A new strategic pian has been develot*d by the T￿￿ee$ to ￿er￿Er on our vision to create an inclusNe
organisakn.on using herrtwJe ￿llectionS to engage and inspire communtiies in Dacorvm centred on principles
of enjoyment and wellbeirtyJ.
Strategic ain8 are to
Engage the whole of Dao)Nm
BeGome better known
Increase our organisational strengih and sttstainability
Share leamlng and stretch thinking in looxl heritage
Hame55 the potential of the dvJrt81 envirDnment
Develop and adhere lo a deaty defined coUedy)n ￿1￿Y
Objedives have been set against these aims aNJ the Trustees are WOrku￿ on detaileA plans to de￿Ver
8gainst the Objecti￿S.
Tn45tees' responsli Jilities
The Tnjstees (who are a150 dIreL*0￿ of The Da￿￿￿ Hent*Je Tntsl Ltd for Ihe wryK>ses of company Eaw)
are responsible for weparing the Trustees, Annual Report and the finan￿31 stalements in a(xonlanGe with
applicable law and Uniteil lfjtNJdom A¢c(xmttng Statmlarts (Uniled K￿￿Orn Generally A￿prted A￿UntIng
Practice).
Company law ￿ul￿$ the tnkstees to Pfepafe fmanci?1 statements for e8th financial year. Wh￿ give 8 tme
and f8ir view of the state of affaits of the charsiable c(wnpany and of the incomirKJ resources and application
of resources, including the income ar¥J expendrture, of the thartab￿ company for that period. In preparing
these financial sLqtements, the truslee5 are required to:
select suitable 8c￿unt[n9 policies then appty them con5iStently,'
observe the methods and prinriples in the Chaiiiies SORP 2019 (FRS 102)".
make judgements and estimates that are reasonable arml F¥￿Ient.
state whether applicAbte UK AccountiThJ &aThJaTds have been folIcw￿l. sut4ed to any
material departures disd05ed and explained w) the financial sL9tements,"
prepa￿ the finan(4al statements on the going concem basi5 unless ft 15 rnappropriate to
presuffle thal the (*antable company will (x)nlinue in oFwatM)n.
The tn]stees responsible for keepiro adequale accounting re¢oNJs that (Jisclose with ￿asonable
a(£ur8cy at any tbme the financial posthon of the charilabte compaTry and enable them to ensu￿ th8t the
financial statements compty wfih the Compan*s Acl 2(K6. They are aLso reswnsibte for safeguatding the
assels of the charita￿e company and hence for lakwKJ reasonable steps forthe prevenlion detection of
traud and other ittegutarities.

Tho Dacorum Heritage Trust Ltd
Trustees, Annual Report
Year Ended 31 March 2021
In so far as the tfustees are awa￿.
theTB ts no relewanl irrformation of the tharitabk cofflpanrfs Indepe￿Ient Examiner is
unaware" arKI
the tnjstees have taken all sleps thaf they ought to have taken to make the￿￿elVeS aware of any
relevant information and to establish thai the Independeni Examiner 15 aware of Ihat information.
On behaw ofthe t¥)atd
Fiona Page
Trustee
Dated
13k NOVem￿r 2021

The Dacorum Heritage Trust Ltd
Independent Examlnevs Report
Year Ended 31 March 2021
Independent Examinerfs Report to the Trustees of Da¢ornm Herttage Tntst Ltd
I repKJrt to the thaiity trnslees on my eXaMina￿n of the a(YA)unts of the o)mpany for the ye8r 8n(led 31
March 2021 whÉi* are Set otrt on page 12 to 23. 1 teFK)rt that the Truslees, Annual Re￿rt set out on page 4
to 8 is consk#ent with Ihe fThnual data F￿esent￿A tn ttr￿ accounls.
Responsibilities and basis of report
As the chaJity'S trustees of the company {and also its direclots for the purrM)ses of company law) you att
responS￿le for the prEparation of the accounts in ac(x)nJance with the requirements of the Companles A(#
2006 (lhe 2006 Ad?.
Havlng Sal￿ mysewthat the aclounts ofthe company are not required to t* audfted uThJer Part 16 of the
2006 AIX and are elthJib￿ for independent ex3minatKsn. I report in ￿SPeCI of my examination of your charity's
8ccountS 85 carried oul urKkr section 145 of the Charities Acl 2011 (the '2011 Act). In carrying oul my
examinalion I haNE followed the DiredH)ns gi¥En ty the Charity Commi55ion under section 145{5)(b) of the
2011 A(A.
Independent examiners statement
I have CoM￿led my exarninalion. I confim that no matter5 haNp ￿ lo My attentM)n n conne(Aion with the
examination giv1￿j me cause to belieNE"
accounting reu)rts We￿ not kept n resixl of the COn￿￿nY as wuired tsy se(Aion 386 of Ihe 20(6 Act..
or
2. the accounts do nol ac￿￿1 wrth Ihose accountiru re(a)nYs: or
3. the accounts do not comFdy with Ihe accountw ￿quIrEMentS of seclion of the 20(k Act other than
any requiremenl that the ac{x￿ntS gi￿ a Irue and fair view which Ls not a matter cons¥Jered as part of
an independent examinalh?n- or
4. the a¢￿)Unt$ have not been rKeparwJ In ac￿￿anCe wkh the meth(K1s and principfes ofthe Statemerrt of
ReGomrnend&Y practice for accounting and rewrtiNJ ty ¢harrtie5 [apFAicable to charitie5 preparing their
accounts in accordance wilh the Financial Re[￿rtI￿j Standard appl￿b￿ in the UK and Repubiic of
Ireland (FRS 102)1.
I have no con(£ms and have come acrDSS no (rther matter5 connertion wtth the examinatlon lo which
attention shoukl be dtawn in this rewjrt in order to enabbe a proper under5taThling of the accounts to be
reached.
Date..
1511112021

T￿ Dacornm Heritage Trust Ltd
Statement of Financial Activities {Incorporating Incon* and Expen(fiture Account)
Year Ended 31 March 2021
2021
Restri(A
funds
2020
Un(eslrvAed
furrfts
TDlal
Total
NrAe
Income and endowmnts frr*n:
Don8tions and legaGies
Chartt8ble adiwties
OtheT trading activil
Inve51merts
1,300
66,827
1.028
72
4,867
75.778
1.765
272
58.620
1.028
8207
16
Total income and endofftftts
61.Crf)4
69.227
82.682
Expenditure on:
Raising funds
Charitable activities
other
48,823
8,207
57.030
82,549
Total expendltu
48.823
8.207
57,030
82,549
Net (expendftuYe)fincom•
11181
16
12,197
133
Net movement in funds
17
12.181
12.197
133
Reconciliation of funds:
Total funds brought foThv2rd
17
99.773
46.183
145,956
145.823
Tolal funds carried forwaNI
17
111.954
46,199
158,153
145.956
All incom8 and e￿ndIture delive from (xjntinuing a(li¥11￿.
The statement of financial adpths includes all gains arKI losses recognlsed during the year.
10

The Dacorum Heritage TnJst Ltd
Balance Sheet -continued
Year Ended 31 March 2021
2021
2020
Fixed assets
Tangible assets
13
714
833
714
833
Current assets
Stoc&s
Debtors
Cash at bank and in hand
14
7.780
153.419
2,290
154.775
161,179
157,065
Creditors: amounts falling dug within year
15
3,740
11,942
Net current assets
157.439
145.123
Total assets ￿ current liabililles
158,153
145,956
Charity Funds
ReSt￿ted furmts
Unrestri(aed fijnds
17
17
46,199
111.954
46,183
99.T13
Total charity funds
17
158,153
145,956
11

The Dacorum Heritage Trust Ltd
Balance Sheet -continued
Year Ended 31 March 2021
The charita￿e company is enht*d to exempb.oft frDm audit under Sect*)n 477 ofthE Companies Act 2006 for
the year ended 31 March 2021.
The members ha¥e not reqvwed the comparry to (thin an audit of rts finaroal st*en￿ts for the year ended
31 Mafch 2021 in ac£ordance wth Se(kn1476 of the Corrwanies Act 2ixi8.
The trustee5 aGkrThvkdge thwr Fe5ponsbilities for
lal ensuring that the charitable ciMTwny keep5 Tecords thal conyty ￿ Sections 386 and
387 ofthe Cornpanies Act 2006 arKI
Ibl preparing f￿an¢￿1 stateff￿nts Wh￿ give a arml lair wi￿ of the slAe of affaws of the ¢haritable
company as at the erKI of each financial year and of tts sU￿lUS or deficf( for each financial year in
accordance wrth the r4uirements of Sections 394 and 395 and which otherwise comply with the
]Equi￿￿Ents of the Companies Act 20[￿ relatrng to financial Statements: so far as applicable to the
charitabk conwny.
These finawal ststsments have ￿en prepared in &cordance with waal prOvi￿nS of Part 15 of the
Comwanies Act 2(K6 relatsng to charilable small ¢c¥npanie&
The financral statements were approved and 8uthorised ftx issue by the Board Im 18trb November 2021
SvJned on l)ehalf of the Board d Trustees
d MLlwl 40ILitr
Fiona Page
TnBtee
Louise McAw?fta-IMirte
Trnstee
Date." 1* NrNember 2021
The notes on pages 13 10 22 fom) part of these financial 5tatemerrt&
Company fegi8tratw numtr£r. 28S1313
12

Ttr￿ Dacorum Heritage Trust Ltd
Notes to Financial Statements
Year Ended 31 March 2021
Summary of siwificant accourrtxry policies
lal General Infonnation and basis of preparation
The Daix)rum Hetitsge Tnjsl LtnMt&J Ls a company limled by guardntee in EnglaThl and Wales. In the
event of the charity being wound up. the l￿bilty in respecl of the guararrtee is limited to £10 per
member ofthe charily. The addTess of Ihe registered office is given in the charlty information on page
3 of these fmancial ststemenls. The natu￿ of the charity's 0￿ratIonS and prtndpal actiwtie5 are to
colled and record the hb5tory of the Borough of DaconJm and to irrteryKet afvj display Ihe cA)IlecLion in
O￿lert0 encourage inlerest and appreeAi(m of the heritage of Dacorum.
The Chariiy constitules a pu￿¢ ￿nefft entty as defined by FRS 102. The financi85 staternents have
been prepared in accordance with Accounting and RerK)rting ty Charities: Statenwnt of
Recofflmended Practre applic4tAe to chatilies ptEparing their ac(x)unts in ac(yJnlance with the
Financial Re[￿ff￿ StandatKJ app[[￿ble in the UK and Republbc of Ireland (FRS 102) issued on 16
July 2014 (as uwjated through UFrfJate Bulletin 1 published on 2 February 2016). Ihe Financial
Reporting Staifflard applicable in the Uniied Kiwdom a￿1 RepublK of lTrland IFRS 102). the Charitie5
Act 2011. the Companies Acl 20C6 and UK Gener￿lY Accepted PrarA1￿ as rt applies from 1 January
2015.
The charity has appw UKxJate Bulletin l as pullish￿ on 2 Febfuary 2016 and does not indude a
Gash flow statemenl on the grounds thal li i8 applY￿j FRS 102 Sedion 1A.
The fin8n¢ial statements h8Ne been wepared to give a Itue a￿1 fairf view and have departed from the
Chafilies {Accounts and Reports) Regutations 2008 only to the extent required to provmje a Irue and
Pair vtew.. This departure has inw)1V￿ following the Arxy)unting and Reporting by Charities: Statement
of ReC0mn￿nded Prartrce applicable to charities preparing Iheir accounts in accordance witb the
Financial Rep)rtww siandawd appl￿ble in the UK and Republic of Ireland (FRS 1021 issued on 16
July 2014 tather than the A¢xounting and Retx)rttrYJ by Chaiilies.. Statement of Recommended
Practice effedTrve from 1 Apnl 21KI5 whi¢h has Sin￿ t*en withdrawn.
The financial staternenis are wepared on a goirKJ o)ncMn basis urNler the histor￿1 c05t convention,
m(Mlified to indude certain itens at tair value. The financial statements are presented in sterling which
ks the funclw)nal currency of the chathy and rourmled to the nearesi £.
The significani accounting wlnes applied in the preparatH)n of tnese financial statements are Set out
beb)w. These poliues have been (x)nsistenty appl*d to all Yea￿ Fxeseftted unless otherwise si*ed.
(bj Funds
un￿striCted fur￿$ are available tor use at the dscretion of the Trustees in furtheran¢e of the general
obJ'erti¥es of the charity and whid] have noi been designated for other purposes.
Designated funds (xjmwtse unrestrict￿1 funds that have i*en set aside by the Tnjstees for particular
putposes. The aim and use of each deswanaled fund 15 set oul in the notes to the financial statements.
RestrirAed fvnds are funds are lo be used in arx0rd8n￿ with speufitt testrictions imposed by
donors or which havE been ratsed by the charrty for specific purpM)ses. The cost of raBing and
adminL%tenng such fvnds are Cha￿e￿ against Ihe fund. The aim and use of each restricted
fund 15 sel out in the notes to the financ4al slatements.
13

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
(cl Income recognition
All incomirtg resour￿ a￿ inclwjed in the state￿nt of Financial Acttvities (SOFA) when the chatity 15
legally entill&Y to the income after any perfonnance corKlitions have been met. the amounl can te
me8sured reliabty. and rt is probaNe ihal the income wlll be receivEd.
FOT don8tions to ts wnised the tharity will haNE been notifjed of the amounts and the settlemeTrt
date in wtiting. If there are condrtions attached to the donation and Ihis requires a level of performance
before entiuement can be obtamed, then income is deferred until those conditions a￿ fully met or the
fuffitment of those coTrditions is V￿thin the (xjntrol of the charity and pn)bable that they will i
fulfilled.
No amount is indLvJed in the f￿￿nGla1 siatements for w)lunteer ts.me in line with the SORP (FRS 102).
Further detail is given in the Trustees, Annual RetM)rt.
Income fmm trading adith indwjes income earn￿ from fvncloisiryj events 8Tr1 tradiThJ attivittes to
ratse furKls for Ihe tharTiy. Incorne ￿ received in excknange for supplylng go(yJs and Services in order to
raise funds and is reCOgnr￿ when entitletneFrt has oc£utTed.
Income from local government and other grants are recc*Jnised at fair value when the chaiily has
enttttement After any perf0m￿nCe coNlifK)ns Lwn met, tt is Ptyjbable that the income will b8
received. arKY the a￿￿nt can be Tr￿SurEd reliatty. Ff enliilement is not m¢ then these amounts are
defeffefj.
Olher income Indwles the ￿)nVers1o￿ of endowment funds into inc¥)me which arises when capital
funds a￿ ￿leaSed to an income lund ftvm extendable endowments or when a charity has authorrty to
adopt a total retum apF￿aCh to rts ￿rmanent endowment fund. It also inclijdes other income such as
gains on drsposals of tangible fixed assets.
(d) Expendiiure recowition
All expendilure is accounted for on an a¢(7uats basi5 aTrJ ha8 been claSs￿j under headings that
agg￿gate all costs related to the category. Expendrture is reccNJnised where there is a legal Dr
CO￿￿nJ￿1ve obfuation to make payments to third Wies, rt is probab￿ Ihat the settlement will be
required. and the amrwftt of the obligation can ￿ measurwj reliabty. It is categorised under the
folknying headings..
Costs of raising furnts
Expendffure on chantable activities indudes the costs of caring for the collec*tons and
other e￿nd((￿re represents those lieff￿ not falling into the Categor￿ abo¥e.
Irrecoberable VAT 15 tharged as an e￿nse against the activity for which exFeThJrtute arose.
Support costs all¢xalion
Support ￿sts are those that assist the work of the cha]ity but do not diredty ￿present ch8rit8ble
activities aThJ include office costs. govemance ￿$ts. adminislr8tive payroll costs. They are incurred
directty in suppx)rt of exrEnditure on the obJ"e(#s of the tt￿rity.
Fund-raising Costs are those in(yJrred in seeking voluntary c0nlritx￿OnS 8fKI do not include the costs
of disseminattng inf0m￿li0n in suwort of the cttaiitable actiTr4ths.
The analysi5 ofthese costs is Incl￿￿1 in note 7.
14

The Dacorum Heriiage Trt￿t Ltd
Notes to the Financial Ststements
Year Ended 31 March 2021
lfj Tangible fixed assrfs
Tangibie fjxed assets a￿ stated at (3)st (or deeme(J (x)st) or valuation less accumulaled depreciatlon
and accumulated tMpaim￿nÉ k)sses. Cckst U￿[L￿JeS costs d¥ecty aWibutable to makuig the asset
capable of operating &% irrtended.
Dep￿latIOn ts pro￿t￿j on all tangNI e r￿j assets, ai rntes ￿lCulat￿J to ￿lIe off the cost. ths
estimated resRlual value. of eath asset on a sysieffAtic basi5 D￿r ts expected usefijl Ilfe a5 follows:
Plarrt and machinery
Fixtures and fith.ngs
33.3% Stra￿h1 line depreciation
10% stsawJM i￿e dewerAalion
(g) Heritage assets
l¥fjthitst its Hertiage k55ets (In other words. As accesS￿ned colledion of over 63,000 Ite￿￿)
as inalienable. hekl in pewuity and mostly irreplaceable the Tnjst. in the IpJht of CHARITIES
SORPIFRS 102), Valuation of Herrtage Assets section 18.14. (￿rrentlY ¢onsKJe(s estsblishing
valuations for the entirety of the colknlwjns to t* unrealith and prohibitively eynsive arKI not
required by the Trust in ils duty of care to the for the k)ng-tenn stewardship of culturally
s*Jnrficant matefial.
The Board of Tnjsiees will keep on the financial trealment of Hemage Assets UT¥Jer ￿vIeW.
A￿u1Sti￿¥￿s onty ar￿e wlwi donaled lo the charity or rf ft 15 believ￿1 th* they further the charity
oti"etXives. on￿ acquired they will f* preseNed by the charity in o￿ler to keep their historical, artislio
$c￿￿tif￿, technological, geophysical or enviKK)nmertsl qualities to such a hb3h level as to conltibute to
knowledge aThJ cufiure. A regL8ter of all assL%s helj by the thawfty s avdilable and the assets
Ihemsefves are aC￿55￿￿e to the with wKir agreement. Heitage assets a￿ to be held for the
foreseeakAe future.
{h) Debtors and credtloTr rBceivable I payable within one year
Detiors and cr&Jrtots with no slated inierest rate and receNable or payabie within one year are
recorded at trark5aclKin prh%. Any k)sses aiisiffj frorn rfflpawrnent are rec￿jniSed in ex[￿lture.
(i) Prnvisions
Provisiorts are recogni￿ when the tharity has an otligatton al the balance sheet date as a result ofa
past event, probabfe that 8n oufflow of economic beneffts will be wuirEd in settlement and the
amount can t* reFabty estimated.
til Emplo)ee benefits
Vlthen ernpk)yee5 ha￿ rendered Serv[￿ to the tharity. short-tern empk)ye8 t￿nefftS to which the
employees are entilled are reu)gni5ed at the undiscounied arrnunt expected to be paid in exthange
for that5ervice. The Charity operales a defined (x)r￿lly￿￿.0n plan for the benefit of its employees.
Contrbutions are expensed as they tecome paya￿e.
{k) Tax
The chariiy ts an exemrt charfty within the of schedule 3 of Ihe Charitie5 Act 2011 and 15
¢ons•Jered lo pass the tests set out Paragraph 1 Schedule 6 Finance Act 2010 and therefore
meets the definition of a dMITlat￿tr company for UK ￿￿K)ratI)n tax purFrfJses.
15

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Endod 31 March 2021
(l) Going concem
The financial statements ha￿ been prepA￿d on a concem basis as the Tnjstees believe that
ao material uncertainties exisE. The Truste&% ha￿ consKlered the level of fvnds hehj and the expected
level of incx)me ex4)erwJilure for 12 ￿K)nthS from authorising these finan(ial statements. The
budgeted income and e￿ndIture k5 sufficient with the level of ￿se(bE$ for the chatity to be a￿e to
continue as a going (a)ncem.
Income from donations
2020
Donations
4.867
4.867
Income from 11onations was £1,31JO (2020 - £4,86n of which £Nil (2020 - £NiQ was attributable to
restnct&l arKI £1,300 12020- £4.867) was attributable to unrestrixed furKJs.
Income from chaTilal)le activilies
2D20
Sale of gocrfjs and serv￿e5
performan￿ related grants
620
86.207
2,404
73.374
66,827
75,778
Income from charrtable 8(knrties was £86.827 {2020- £75,778) of whith £8,207 {2020 - £15.374) was
attnbutalAe to festricied and £58,620 (2020 - £60,404) was attributab￿ to Unfestrid￿l ￿Tr￿S.
£ 58,000 (2Q20 - £58.000) ol govemment grants were wi￿1 as part of a ServKe Level Agreement
wrth Dacorum Borough Councis.
IncoThe from other trading aclivities
2021
2020
othertrading aclivttEs
1.028
1.765
1,028
1,765
Income from other Irading adivities was £1,028 {2020 - £1.765) of wh￿h £0 (2020 - £0) was
attribuiable to restricted and £1,028 (2020- £1.765) was attribut8ble to unrestncled funds.
16

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
Income from investments
21
Inte¥e*- deposts
72
272
72
272
Incorne from inveSt￿￿rt was £72 {2020 - £272) of whth. £18 (2020 - £63) was attributable to
restri¢Xed a￿j £56 12020 . £209) was attTibLtst4e to unre5tnded funds.
Analysls of expenditure on charitable aclivilie$
Total
General Actmty
30,755
26.275
57.030
30.755
26.275
57,030
£8,207 P020 - £18,20n of the alK)ve costs weTr altributable to restrided fvnds.
£48.82312020 - £64.342) of the alx)￿ uists were attnbutable to unresttithj fund5.
Allo&ition of support costs
sup[￿)rt co
2020
Go¥Emance
Finance
Utilities
Human resour
Dep￿ciall0n
Insuran(
Office costs
Pension contnlxrtions
Other
415
15.989
1.977
7,969
15.980
2.689
40
119
2.397
3.229
2,004
1.745
119
2.431
1.777
2.087
1.480
Total
26,275
38.172
17

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
Governance Costs
Note
2021
2020
Tnjstee expenses
Indepermdent examinets remunefth.on
Legal fees
SupFrf)rt costs
10
415
7,096
415
7.996
Net in¢4)mv l {expenditurE) for the year 2021
Net income l (e￿)e￿Ilture} is staled after ¢hargwvJ l (credithJ):
2021
2020
Depreciation of tangible fix&J assets
C05t of stock rec￿nIsed as an e4)er
119
119
10 Independent examiners remunerntion
The Indepe￿Ient examinef5 reM￿eralKffi for an iThtependent eXaMinat￿n £Nil {2020- £Nil).
11 Trustees. and key management personnel ￿nuneratIO￿ and expenses
The Trustees neither recelv&l norwal¥Ed any remuneration durirrj the year12020: £W.
The total amount of emFdoyee benefits rEceNed by key management petsonnel is £31,348 {2020 -
£45,175). The Trust conshler5 its key management personnel rx)mwornise Couections Man8ger.
Flnance man￿er and the Board Secretary.
The te1mbu￿ernerrt of Truslees expenses was as folbws."
2021
Number
2020
Number
2021
2020
Other
Included rn at*?￿ are £Nil (2020 - £Nrf) whiL* have been paKI directly to third parb"e5.
18

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
12 Staff costs and emP￿Yet beneffts
The average monthly number of ernpknyees and fvn lin￿ 4uivalent ￿E) duiirKJ the year was as
follows..
2021
Number
2020
Number
2020
FTE
Raising frjnds
Charitable actiini
Goveman¢e
1.567
0.020
1.642
0.243
1.885
2.189
The total staff cosls and employees. beneffls We￿ as folbms:
2020
Wages and Salaries
Defined (xjnlribution penS￿n costs
39.092
2.087
51,218
2.004
41.179
53.222
£25,910 of the at*)ve C(￿ we(e allritMJiable chariiable aL*vths, and £15,989 rfthe a￿)ve ¢osls were
attribut&s lo g0veman￿.
No efflployees recei¥ed lotal effi￿yee tsneffts (exdLhJing employer ￿nSIOn costs) of trnre than
£60,000.
13 Tangible fixed assets
Plant and Fixtures and
mathinery
frtlmgs
Tolal
Cost or valuation:
At 1 April 2020
Ad￿rt￿ftS
Disposats
At 31 Marth 2021
5.105
41,997
47.102
5,105
41,997
47,102
Deprecaation:
At 1 April 2020
Charg8 for the year
Eliminated on dis[￿al$
At 31 March 2021
5.105
41.164
119
46,269
119
5.105
41.283
46.388
Net book value..
At 31 March 2021
714
714
At 31 March 2020
833
833
19

The Daconmn Herftage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
14 DebtorJ
2021
2020
Trade deoto
Other debtor5
Prepaymerts a￿1 accrued inrDme
5.763
1,909
391
1.899
7,760
2.290
Debt0￿ inchbjes £Nil (2020- £NID falliTh3 due after one year.
15 Creditors: amounts falling due wllhin one year
2021
2020
Trade credilor5
Olher tax and swal seojnty
Accm8Ls
Deferred income
2,267
1,242
2,891
7,629
157
1,316
3.740
11,942
16 Deferred income
Under 1
year
Total
At 1 Apnl 2020
A(Iditions during the year
Amounts r*ased to in(x)me
7,629
1,316
17.629)
7.629
1.316
17,629)
Al 31 March 2021
1.316
1,316
Income has trken deferr￿1 from the Super 100 HetitwJe Club lottery for whmth members buy a yearfy
tid(et for entry into the morrthty draw. In(J)n* Nyds also deferred from several small grarrts.

The Dacorum Heritage Trust Ltd
Notes to Financial Statements
Year Ended 31 March 2021
17 Fund reconcflia¢ion
Unrestrlcted funds
Balance 8t
3110312020
Gains I
Balance at
Oosses) 3110312021
Incorne EX[￿j&U￿ Transfers
Unrestrided
87,398
60.354
(48.813)
998
I IXJ.137
Maintenance
Publications
Curatorial
Activrties
100 Club
1.888
2,000
(998)
7,489
650
(210>
7,929
99.773
(48.823)
111.954
Restricted funds
Balance al
3110312020
Gains / Balance at
)sses) 3110312021
Incorne EyThJilure Transfe
Museum Fund
Development
PEC
Ovaltlne11
DBC
Tesco
Grouped ftubjs
18.361
10.080
17,476
10
18.371
10.080
17.482
4,037
2,828
725
617
4.037
2.828
725
617
(8.20n
286
46.199
48,183
145.956
(57.030)
158,153
Fund descriptions
a) Unrestricl&J fvnd5- Generdl Fund
b) Oesvjnated funds - The Tn￿tee.5 haNT des•Jnated f￿￿ts for maintenan￿ of the Museum Store and
for futtjre wbk*ions.
C) Restsid￿ funds-
Museurn Fund- funds faisert lowafds a museum for Oacorum
Development Fund- fiJFKts the fLrture devek)pmeth ofthe museum store
PEC - fund5 raised lowarfs the purchase of PIc￿￿S EtKI Cottages
Ovaltine 11- IterThs at risk wc¥ec#
DBC - grant for WWI exhibition
Tesco- digital audience engageff￿Trt
Grouped Funds - several small granls for a v8nety of Fwojerts.
21

The Dacorum Heritage Trust Ltd
Notes to the Financial Statements
Year Ended 31 March 2021
18 Analysis of net assets betI￿On funds
Tot81
Fixed assets
Cash and GU￿nI in￿rnents
Other current assets
Other Cu[￿nI [￿t￿T￿leS
714
102.407
7.760
{2,815)
714
3.888 47.124 153,419
7,760
(925) 13.740)
Tolal
108.1x6
46.199 158,153
19 Pensions and other post-rtirnnent benefits
Defined corrtributi)n penS￿n plans: The chaffty operates a defffted rxintributiDTt pension plan for its
employees. The amount ￿e(￿Jnis￿l as an ewen5e in the period was £2.087 (2020 - £2,004).
20 Disclosu￿ of key management peT50nnel compensation
Key management FEwnnel exwidFture £31.348 {2020- £45.175).
21 Financial instruments
The rAfrytt¥J amounts of the charws financial instrumenls are as follcrws:
2021
2020
Fjnancaal assets
Measured at cost
Cash at bank and in hand
1 $3,419
154,775
Debt instrnments measured at ￿￿]sed cost
- Trdde deblors (note 14)
- Cxher detrtors (note 14)
88
5,736
159.243
391
155,166
Financial liabililies
Measured al amortised cost
- Bank loans and overdraft (noies 15)
- Trade creditots (notes 15)
- (Xher c￿lIOrS (notes 14
2.267
180
2.267
180
22