The Dacorum Heritage Trust Ltd Trustees, Annual Report and Financial Statements Year Ended 31 March 2024 Charity registration number: 1026161 Company registration number: 2851313
The Dacorum Heritage Trust Ltd Financial Ststements Year Ended 31 March 2024 Contents Page Charity Reference and Administrative Details Trustees, Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10-11 Notes to the Financial Statements 12-20
The Dacorum Heritage Trust Ltd Charity Reference and Administrative Details Year Ended 31 March 2024 Charity registration number 1026161 Company registration number 2851313 Accredited Museum Number 1594 Trustees J W Allen A A Barham R Benvie K E Cassels K S Galal A L Haynes F R Herzberg FJPage Registered Office The Museum Store Clarence Road Berkhamsted Hertfordshire HP4 3YL Sollcitor Machins Solicitors LLP 295-299 High Street Berkhamsted HP4 1AJ Banker8 The Co-operative Bank plc PO Box 101 1 Balloon Street Manchester M604EP
The Dacorum Heritage Trust Ltd Trustees, Annual Report Year Ended 31 March 2024 The Trustees present their annual report and the independently examined accounts of the charity for the year ended 31 March 2024.The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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). Trustees of the charlty The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end were as follows: J W Allen {appointed 2 November 2023) A A Barham R Benvie (appointed 9 May 2024) K E Cassels M Chandaria (resigned 9 May 2023) K S Galal (appointed 11 May 2023) S W Gill (resigned 31 May 2024) A L Haynes F R Herzberg FJPage S J Wakefield (appointed 9 March 2023. resigned 2 November 2023) Objectives and activities The mission of the Trust is engaging and inspiring communities in Dacorum and beyond using heritage collections. The Trust's objectives as set out in the Articles of Association are the advancement of education in the Borough of Dacorum by acquiring, housing, exhibiting, conserving restoring and repairing objects and collections of an historical and or educational nature establishing, acquiring, managing, and maintsining museums, galleries, libraries, and other places where these activities are achieved research and enquiry and the exchange and dissemination of views and information may occur. The Trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the Trust should undertake. The Trust works with community partners and other voluntary organisations to deliver an engaging programme of events for a local audience through a variety of media. We also engage audiences through social media posts, via our website and our newsletter. We maintain high standards of collections care and conservation presetving the heritage of Dacorum for the benefit of our communities and futu generations. The Trustees recognise that there is a signtficant input to the Trust's achievements from the contributs'on by the many volunteers. To quantify this, the Trustees have used, as a basis for its calculation of the accepted valuation of personal commitment of their labour contribution, the formulas adopted by the Heritage Lottery
The Dacorum Heritage Trust Ltd Trustees, Annual Report Year Ended 31 March 2024 Fund. Based on these formulas a minimum valuation for the year would be circa £27,757 {2023 - £33,800). Furthermore, these accounts do not recognise the value of expenses not claimed by Trustees and volunteers, nor of honoraria waived. Achievements and perfomiance During the period under review the Trust continued to work in partnership with Dacorum Borough Council and numerous local organisations to support access to heritage across the borough. During the year, the Trust was successful with an application to the National Lottery Heritage Fund for a grant of £81,900 for inrtial consultancy work in relation to a potential new heritage centre. The work involved engaging with stakeholders, reviewing the stste of the collection, developing a statement of requirements, determining the volunteer development needs and assessing the feasibility of obtaining capital funding for such a centre. The Trust were also SUCssful with an application to Arts Council England for a grant of £25,965 under its "Unlocking Collections" campaign, funded by National Lottery Project Grants, to digitalise some long-playing records which had previously been held in remote storage, as well carrying out some associated oral history and memory gathering activities. The Trust has maintained its status as an accredited museum in Dacorum. Throughout the period under view, we continued to care for the collections through effective collections management and organisational strategy. We continually work towards improving our collections care, reviewing our strategies to fulfil the current guidelines in collections care. During the year, Hemel School took part in the borough-wide Dragon's Apprentice competition raising significant funds for the Trust. Throughout the period under review, we were able to liaise with repsentativeS from local societies to discuss their needs and present our own plans. We have also continued to work with our key stakeholders including Dacorum Borough Council. Flnanclal revlew Income and endowments for the yearto 31 March 2024 was £159,331 (2023-£67,262). After total expenditure of £160.351 {2023- £76,029) there was net deficit of £1,020 (2023- £8,767). This is split beeen unrestricted and restricted funds as follows.. Unrestricted Funds The Trust had a deficit in the year of £1,020 (2023 - £8,767) on unrestricted funds. The balance at the end of the year was £87,089 (2023 - £88,109). The Trust remains reliant on funding from Dacorum Borough Council, although limited funds are raised from other sources. Restricted Funds The Trust had a surplus in the year of £nil (2023- £nil) on restricted funds. The balance at the end of the year was £46.202 (2023 - £46,202).
The Dacorum Heritage Trust Ltd Trustees, Annual Report Year Ended 31 March 2024 Reserves Polic The Trust holds reserves ft)r the following situations: Contingency - unexpected expenditure in the event of an emergency Cashflow- situations where an Invol has to be paid before the money to cover it has been received Commitment- a commitment to expenditure which cannot be covered by the annual income Closure- the charity becomes financially unsustainable and must be wound up. The current reserves policy is to hold as reserves a sum equivalent to 12 months of running costs for the Museum Store which is estimated as £70.000. The amount of unrestricted reserves 31 March 2024 was £87,089 (2023 - £88,109} Structurn, governance and management The Trust is a company limited by guarantee, incorporated in September 1993 and registered as a charity in September 1993. It is governed by its articles of association. The Trustees are recruited from volunteers prepared to offer their ts'me to the development of the Trust's objeckn'ves. None of the Trustees has any beneficial interest in the company. Members of the company guarantee to contribute £10 in the event of a winding up. Directors are required to be members of the company. The Trust is managed on a day-to-day basis by a Collections Manager, Public Engagement Manager and Finance Manager who are employed to work under the auidance and direction of the Board of Directors of the Trust. Employee salaries are determined the Board of Directors in accordance with the Trust Pay Policy. Regular management meetings are held beeen the Trustees and staff to ensure the progress of charitable activities and the effective day to day running of the Trust. There were no transactions with related parties during the year that required reporting in these accounts. The Trustees have assessed the major risks to which the Trust is exposed through its risk management statement and are satisfied those systems are in place to mitigate exposure to the major risks. Strategic report and forward-looking plans A strategic plan has been developed by the Trustees to deliver on their vision to engage and inspire communities in Dacorum and beyond using herrtage collections. Strategic aims are to Maximise the potential of the collections Realise the potential of our communrties Secure the future of Dacorum's heritage Objectives have been set against these aims and the Trustees are working on detailed plans to deliver against the objects'ves. Trustees, responsibilities The Trustees {who are also directors of the Trust for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi).
The Dacorum Heritage Trust Ltd Trustees, Annual Report Year Ended 31 March 2024 Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charltable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the twstees are required to- select suitable accounting policies and then apply them consistently" observe the methods and principles in the Charities SORP 2019 (FRS 102)", make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements", prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charrtable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. In so far as the Trustees are aware: there is no leVant information of which the charitable company's Independent Examiner is unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the Independent Examiner is awaie of that information. On behalf of the board Fiona Page Trustee Dated: &4 N10el 2024
The Dacorum Heritsge Trust Ltd Independent Examiner's Report Year Ended 31 March 2024 Independent Examinerfs Report to the Trustees of Dacorum Heritage Trust Ltd I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 9 to 20. 1 report that the Trustees, Annual Report set out on page 4 to 7 is consistent with the financial data presented in the accounts. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparats'on of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the '2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act,. or 2. the accounts do not accord with those accounting records", or 3. the accounts 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandinq of the accounts to be reached. Date.. 5 November2024
The Dacorum Heritage Trust Ltd Statement of Financial Activities (incorporating Income and Expenditure Account) Year Ended 31 March 2024 2024 Restricted funds 2023 Unrestricted funds Total Total Note Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 199 63,908 662 1,135 199 157,335 662 1,135 1,265 64,617 884 496 93,427 Total Income and endowments 65,904 93,427 159,331 67,262 Expenditure on: Raising funds Charitable activities Other (66,924) (93,427} (160,351) (76,029) Total expenditure 66,924 93,427 (160,351) 76,029 Net (expenditure)lincome (1,020) (1,020) (8,767) Transfers between funds Net movement in funds 16 (1,020) (1,020) (8,767) Reconcillatlon of funds: Total funds brought forward 16 88,109 46,202 134,311 143,078 Total funds camed forward 16 87,089 46.202 133,291 134,311 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.
The Dacorum Heritage Trust Ltd Balance Sheet Year Ended 31 March 2024 2024 2023 Fixed assets Tangible assets 12 357 476 357 476 Current assets Debtors Cash at bank and in hand 13 176 208,578 2,936 160,393 208,754 163,329 Creditors: amounts falling due wlthln one year 14 (75,820} (29,494) Not current assets 132,934 133,835 Net assets 133,291 134,311 Charity Funds Unrestricted funds Restricted funds 16 16 87,089 46,202 88,109 46,202 Total charity funds 133,291 134,311 10
The Dacorum Heritage Trust Ltd Balance Sheet Year Ended 31 March 2024 The charttable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financia statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply wtth Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordan with the special provisions of Part 1 S of the Companies Act 2006 relating to charitable small companies. The financial statements were approved and authorised for issue by the Board on (3 . W. 2024. Signed on behalf of the Board of Trustees Fiona Page TNstee Robin Her£berg Trustee Date: 3id 2024 The notes on pages 12 to 20 form part of these financial statements. Company registration number: 2851313 11
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 Summary of signlflcant accounting pollcios (a) General infomiation and basis of preparation The Dacorum Heritage Trust Limited is a company limited by guarantee in England and Wales. In the event of the charity being wound up, the liability in spect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities are to collect and record the history of the Borough of Dacorum and to interpret and display the collection in order to encourage interest and appreciabon of the heritage of Dacorum. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordan with Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2020, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The charity does not include a cash fiow statement on the grounds that it is applying FRS 102 Section 1A. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the fvnctional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted fvnds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for specific purposes. The cost of raisinq and administering such funds are charged against the SDecific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. (c) Income recognitlon All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. 12
The Dacorum Heritsge Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Income from local government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets. (d) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised underthe following headings.. Costs of raising funds Expenditure on charitable activities includes the costs of caring for the collections and other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. {e) Support Costs allocation Support costs are those that assist the work of the charity but do not directly repsent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the chanty. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating informats-on in support of the charitable activities. The analysis of these costs is included in note 7. {f) Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Plant and machinery Fixtures and fittings 33.3 % straight line depreciation 10 % straight line depreciation (g) Heritage assets Vvhilst regarding its Heritage Assets (in other words, its accessioned collection of over 130,000 items) as inalienable, held in perpetuity and mostly irreplaceable the Trust, in the light of The Charities SORP {FRS 102), Valuation of Heritage Assets section 18.14, the Trust currently considers establishing valuations for the entirety of the collections to be unrealistic and prohibitively expensive and not 13
The Dacorum Heritsge Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 required by the Trust in its duty of care to the public for the long-tenn stewardship of culturally significant material. The Board of Trusts will keep its policy on the financial treatment of Heritage Assets under review. Acquisitions only arise when donated to the charity or if it is believed that they will further the charity's objectives. Once acquired they will be preserved by the charity to keep their historical, artistj'c, scientific, technological, geophysical or environmental qualities to such a high level as to contribute to knowledge and culture. A register of all assets held by the charity is available and the assets themselves are accessible to the public with prior agreement. Heritage assets are to be held for the foreseeable future. (h) Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (i) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. ti) Employee benefits Vlhen employees have rendered service to the charity, short-term employee benefits to which the employees are entitled a recognised at the undiscounted amount expected to be paid in exchange for thatservice. The charity operates a defined contribution plan for the benefi't of its employees. Contributions are expensed as they become payable. (k) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraphs 1 and 2 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 11) Going concern The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going COnrn. 14
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 Income from donations 2024 2023 Donations 199 1,265 199 1,265 Income from donations was £199 (2023- £1,265) ofwhich £nil {2023- £nil) was attributable to restricted and £199 (2023 - £1,265) was attributable to unrestricted funds. Income from charitable activities 2024 2023 Sale of goods and services Perfomiance related grants 1,788 155,547 1,281 63,336 157,335 64,617 Income from charitable activities was £157,335 (2023 - £64,617) of which £93,427 (2023 - £6,617) was attributable to strICted and £63,908 (2023 - £58,000) was attributable to unrestricted funds. £59,160 (2023 - £58,000) of government grants were received as part of a SeNice Level Agrment with Dacorum Borough Council. Income from other trading activities 2024 2023 Other trading activities 662 662 Income from other trading activities was £662 {2023 - £884) of which £nil {2023 - £nil} was attributable to $trIcted and £662 (2023 - £884) was attributable to unrestricted funds. 15
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 Income from investments 2024 2023 Interest- deposits 1,135 496 1,135 496 Income from investments was £1,135 (2023 - £496) of which £nil (2023 £nil) was attributable to restricted and £1,135 (2023 - £496} was attributable to unrestricted funds. Analysis of expenditure on charitable activieS ActivitEs undertakèA Support ¢osts Fundr8lsln9 Totsl dlr8¢Uy General Activity 130,298 30,053 160,351 130,298 30,053 160,351 £93,427 (2023 - £6,617} of the above costs were attributable to restricted funds and £66,924 (2023 £69,592) of the above costs were attributable to unrestricted funds. Allocation of support costs 2024 2023 Finance and administration Utilities Depreciation Insurance Office costs Pension contributions Other 15,184 2,716 119 2,703 3,848 2,019 3,464 16,074 2,690 119 2,729 3,518 2,007 378 30,053 27,515 Net income l (expenditure) for the year Net income l (expenditure) is ststed after charging l (crediting): 2024 2023 Depreciation of tangible fixed assets 119 119 16
The Dacorum Heritage Trust Ltd Notes to the Financial Ststements Year Ended 31 March 2024 Independent examiners remuneration The independent examiners remuneration for an independent examination was £nil (2023 - £nil). 10 Trustees. and key management personnel remuneration and expenses The Trustees neither received nor waived any remuneration or expenses during the year {2023 - £nil). The total amount of employee benefits received by key management personnel is £50,386 (2023 £50,018). The Trust considers its key management personnel compromise the Collections Manager, the Public Engagement Manager and the Finance Manager. 11 staff costs and employee benefrts The average monthly number of employees and full time equivalent (FTE) during the year was as follows: 2024 Number 2024 FTE 2023 Number 2023 FTE Charitsble activities The total staff costs and employees, benefits were as follows.. 2024 2023 Wages and salaries Defined contribution pension costs Less" costs supported by grants 52,362 2,019 (1,976) 57,803 2,007 52,405 59,810 Of the total staff costs and employees, benefits, £37,221 (2023 - £43,811) was attributable to charitable activities, and £15,184 (2023 - £15,999) was attributable to finance and administration. No employees received total employee benefits (excluding employer pension costs) of more than £60,000. 17
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 12 Tanglble fixed assets Plant and Fixtures and machinery fittings Total Cost or valuation.. At 1 April 2023 Additions Disposals At 31 March 2024 5,105 41,997 47,102 5,105 41,997 47,102 Depreciation.. At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 5,105 41,521 119 46,626 119 5,105 41,640 46,745 Net book value.. At 31 March 2024 357 357 At 31 March 2023 476 476 13 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 120 243 297 2,396 176 2,936 Debtors includes £nil (2023 - £nil) falling due after one year. 14 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other tax and social security Accruals Deferred income 9,474 1,372 72 64,902 391 1,144 27,959 75,820 29,494 18
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 15 Deferred income Under 1 year Total At 1 April 2023 Additions during the year Amounts released to income 27,959 27,959 130,736 130,736 (93,793) (93,793) At 31 March 2024 64,902 64,902 Income has been deferred from the Super 100 Heritage Club lottery for which members buy a yearly ticket for entry into the monthly draw. Income was also part deferred for a grant of £25,000 received from the Garfield Weston Foundation, a grant of £81,900 received from the National Lottery Heritage Fund and a grant of £25,965 received from Arts Council England. 16 Fund reconcillation Unrestrictsd funds Balance at 31 March 2023 Income Balance at 31 March 2024 Expenditure General Fund Super 100 Heritage Club 78,996 9,113 65,036 868 (66,200) (724) 77,832 9,257 88,109 65,904 (66,924) 87,089 Restricted funds Balance at 31 March 2023 Income Balance at 31 March 2024 Expenditure Museum Fund Development Fund Picotts End Fund Grouped fvnds 18,374 10,080 17,482 266 18,374 10,080 17,482 266 93,427 (93,427) 46,202 93,427 (93,427) 46,202 134,311 159,331 (160,351) 133,291 Fund descriptions Museum Fund - These are funds raised towards a museum for Dacorum. Development Fund- These are funds for the future development of the Museum Store. Piccotts End Fund - These are fijnds raised towards the purchase of cottages at Piccotts End. Grouped Funds- These are funds raised for a variety of smaller projects. 19
The Dacorum Heritage Trust Ltd Notes to the Financial Statements Year Ended 31 March 2024 17 Analysis of net assets between funds Unrestrictgd R8Strithd funds funds Total Fixed assets Cash and current investments Other current assets Other current liabilities 357 162,376 176 (75,820) 357 46,202 208,578 176 (75,820) Totsl 87,089 46,202 133,291 18 Pensions and other postwretirement benef The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £2,019 (2023 - £2,007). 20