**REGISTERED COMPANY NUMBER: 03024733 (England and Wales) REGISTERED CHARITY NUMBER: 1044712** ## Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2021 for Landguard Fort Trust Landguard Fort Trust Contents of the Financial Statements for the Year Ended 31 December 2021 ||Page| |---|---| |Report of the Trustees|1 to 7| |Independent Examiner's Report|8| |Statement of Financial Activities|9| |Balance Sheet|10 to 11| |Notes to the Financial Statements|12 to 21| |Detailed Statement of Financial Activities|22 to 23| Landguard Fort Trust Report of the Trustees for the Year Ended 31 December 2021 The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the independently examined financial statements of the Charity for the year ended 31 December 2021. The Charity is a Company limited by guarantee and has no share capital and was incorporated on 21st February 1995. The Charity was established under a Memorandum of Association and is governed under its Articles of Association. The Trustees Mr T Clarke (Chairman) Mr B Connor (retired 7 April 2021) Mr S J Curtis Mr J W Ogden Mr M Sharman Mr C D Slemmings Mr M Stephenson (Company Secretary) Mr K J Sullivan (Treasurer) Mr P Poole (appointed 4 November 2021) ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The main objective is to increase the public's understanding and educational use of the fort. in the form of the written word, illustrations, guided tours, audio-visual presentations and the staging of special events in and around the Fort. The objectives of the Charity are to advance the education of the public about: " the role of Landguard Fort, Felixstowe as a building of great historical and educational interest in the defence of the realm, and " the ways in which the inhabitants of Landguard Fort lived their daily lives ## **Significant activities** The Charity’s aims are to open Landguard Fort to the public and to create a unique exhibition, educational facility and visitor attraction. This is achieved through a Local Management Agreement with English Heritage Trust and the recruitment of a force of Landguard Fort Volunteers without whom the aspirations could not be met. A General Manager and Operations Assistant are employed to oversee the day to day running of the Trust's activities. The Trustees work with English Heritage Trust, Felixstowe Town Council, East Suffolk Council, the Landguard Partnership, the recently formed Landguard and Felixstowe Conservation Trust and the Port of Felixstowe and thank them for their continuing and valued support, without which it would be considerably more difficult for the Trust to meet its charitable objectives. Page 1 Landguard Fort Trust Report of the Trustees for the Year Ended 31 December 2021 ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** The Trustees confirm that they have paid due regard to the Charity Commission's guidance on public benefit and have strived to ensure that the Charity's activities reflect this. For the public benefit the Trust informs visitors of the history of Landguard Fort which is part of the heritage of England. This includes exhibitions of the lives and work of the soldiers who lived there throughout the period 1650 to 1956 featuring exhibitions of guns, the historic development of the fort and the recreations of living and working conditions. The Trust continues to promote its role, this year using radio advertising and printed and social media channels to reach potential new audiences. We actively encourage visits from younger audiences with a policy of not only providing free visits for school groups but supplying an experienced guide for these groups wherever possible. We also collaborate with national heritage days allowing free entry, providing opportunities for visitors of all backgrounds to gain access to the fort. ## **Volunteers** Volunteers remain at the heart of the Trust. Quite simply, without volunteers, the Trust would cease to exist. Volunteers perform all of the functions at the Trust except for the roles of General Manager and Operations Assistant. Nearly 50 volunteers, contributing over 12,500 hours of unpaid work annually, mean that the fort can be open for over seven months of the year, seven days a week. They are involved in all aspects of the fort's operations including the ticket office and shop, maintenance and conservation activities and events and shows. Volunteers lead educational visits, guide special groups, manage archiving and displays, and oversee the trust's governance. We warmly welcome new Volunteers aged 18 and above from all backgrounds, who can always find an area of interest in which to contribute to and join a community which not only prepares and presents the fort for our many visitors but also enjoys the fun of working together and shared social events. Page 2 Landguard Fort Trust Report of the Trustees for the Year Ended 31 December 2021 ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** The period covered by this report was again affected by the Covid pandemic following the very difficult 2021 season. The fort was again limited by a late start to the season but with the tremendous effort by volunteers we restarted our operation with the resolve to achieve as much as possible. We welcomed 14,850 actual visitors to the fort. The retention of the one-way system generated many positive comments. This, combined with the very successful shop and tea room continued to rank the fort as the No.1 attraction on Tripadvisor for visitors to Felixstowe. We held a few events which were very successful like hosting the Suffolk Youth orchestra and our Darrell’s Day celebration, pirates weekend, 95th Rifles and of course our hosting of the Mayor’s charity cheese and wine evening. We have also sold themed trails for our younger visitors all through the season and finished with sales of 2,381 trails. Our income, spend per head, rose significantly in 2021, this was driven by our active selling, new lines in the gift shop and our ever improving tearoom offer. To put this into context in 2019 LFT income was approximately 30k, this was based on a full season of being open seven days a week and 27,000 visitors. In 2021 the receipts were £35,106 (just on the Square card terminal alone). A fantastic result and a true testament to the team of volunteers that worked so hard all season. We continued to invest in the visitor experience: • Audio Tour Guides - Due to the ‘new’ one-way route for visitors, the audio guides and associated signage were updated to reflect the new route. Several audio tracks were re-recorded and the ‘points-of-interest’ signs re-ordered accordingly with new signage provided where required. • Multi-Media Tour Guides Downloadable to Visitors’ Smart Devices – Since the emergence of Covid-19, and the associated health risk to volunteers and the public handling and cleaning the audio handsets, it has not been possible to offer the handsets to our visitors for the last two years. Due to the uncertainty of when the level of risk will allow us to reintroduce the handsets, we decided to invest in an alternative safe method of delivering the audio tour. Several visitors had suggested that we provide the facility to download the audio tour to their personal smart devices (smartphone, tablet etc.) thus eliminating the risk of cross-contamination to visitors, staff and volunteers. The decision was taken to use our existing audio tour guide provider (Orpheo) who could deliver an affordable, downloadable, multi-media content to visitors' smart devices. The new Orpheo system increases the experience for those with access problems to inaccessible areas with pictures. The system allows us to control the content and is therefore “future proofed”. It also allows ‘live’ interpretation of a site which cannot be physically altered either for access or physically restored. • Replacement of Interpretation panels – many of our interpretational panels were looking tired and the content in need of being updated therefore we embarked on the huge task of updating the panels. We were fortunate to have received a small grant from the council to help finance the project. Page 3 Landguard Fort Trust Report of the Trustees for the Year Ended 31 December 2021 At the close of 2021 season the trustees committed to a further recovery plan for 2021/22. This committed to create a new Deputy Manager position in order to help with day to day operations but also to drive income from special events. We also decide to recruit from the ‘Kickstart’ scheme where we could provide an opportunity for a young person to help with our wide range of activities while gaining valuable workplace experience. We continued to work closely with the nascent Landguard and Felixstowe Conservation Trust which was being formed as the Landguard Partnership was ending. We made significant progress in another difficult year and is therefore a huge thank you to everyone who has contributed to our recovery. ## **FINANCIAL REVIEW** ## **Financial position** The financial statements are set out on pages 10 to 21. The financial statements have prepared in accordance with 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 1st January 2015) – (Charities SORP (FRS102))and the Companies Act 2006 The Trustees consider the financial performance by the Charity during the year to have been satisfactory. In common with most organisations, the Trust is exposed to increasing costs at the present time. Notwithstanding this, in association with English Heritage Trust it was decided not to raise our visitor admission prices for a second year thereby further making the fort an even better value-for-money destination. The Statement of Financial Activities shows net income for the year of £12,907 (2020: £25,618). Total Funds at 31 December 2021 stand at £212,937 (2020: £200,030). The Trustees are satisfied that the Charity holds an adequate amount of liquid assets (in the form of bank and building society deposits) to ensure that it is able to meet its obligations as they fall due. In completing this report the trustees have considered the continued impact of the Covid-19 pandemic on the financial health of the Trust. Whilst the restrictions were being relaxed from June 2021 there remained some uncertainty about further future restrictions due to the pandemic. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of approving these financial statements including a reduced income scenario, and consider the charity will still have sufficient access to cash resources to operate in that period. The trustees therefore have a reasonable expectation that the charity can continue in operation for the foreseeable future. Page 4 Landguard Fort Trust Report of the Trustees for the Year Ended 31 December 2021 ## **FINANCIAL REVIEW Reserves policy Unrestricted Funds** Free reserves are represented by net current assets within the Unrestricted Funds of the Charity. Free reserves ensure the resilience and sustainability of the Charity in such circumstances as when encountering: - a temporary period of reduced income - an unexpected increase in operational costs - unexpected management/overhead costs The Trustees continue to take into account relevant guidance, including that provided by the Charity Commission in CC19 "Charity Reserves: Building Resilience". The continuing review examines potential risks and assesses these risks against costs to determine an appropriate and prudent level of reserves, together with an appropriate management framework, for 2021. This review has continued after the period of these accounts to consider the impacts of the Covid-19 pandemic ## **Designated Funds** As part of its review of Reserves the Trustees have confirmed the designation of Unrestricted Funds in respect of the following strategic developments included within the Trust's current strategic plans: ## (i) Artefacts Fund The Trust is always looking at ways to enhance its collection of artifacts, particularly ordnance. These items are infrequently available and the Trust needs to be able to respond promptly to any opportunity as it emerges. In recent years the Trust has spent over £25,000 on ordnance. ## (ii) Capital Investment Fund Several large-scale improvements have been identified by the Trustees as being required both to further enhance the visitor experience and promote the Trust's objectives or to ensure that artefacts are maintained in a suitable environment. Portable chemical toilets have been in use at the fort for many years. The significant increase in visitor numbers achieved in recent years mean that this solution is not considered by the Trustees to be sustainable and £20,000 has been allocated within the Capital Investment Fund for a project to provide permanent visitor facilities. It is hoped that external funding can also be secured in this respect as the overall cost is likely to be significant. Since the year end the Trustees agreed to allocate a further £30,000 for the Toilet Block Project ## (iii) Heritage Lottery Fund There are significant opportunities for accessing Heritage Lottery funds which normally require an element of matched funding. This Fund has been established by the Trustees to allow the Trust to submit future bids as opportunities arise, either independently or in partnership with other organisations. Page 5 Land uard Fort Trust the Trustees for the Year Ended 31 De￿mber 2021 FUTURE PLANS The Trust wntinues to develop the facilities and Interpretation of the fort in order to attract vrsitors. The funds generated enable the Trust to continue its educational acliwty and to 8nablè both local people and visitors to have aC￿sS to and experien￿ their heritage. The oU￿00k for Ihe coming year is looking far more positive as it no longer looks like being signlficantly disrupted by ihe Covid-19 outbreak. It is hoped that with the Fort open to the public for the whole season the Trust can realign its business plans and financial budgets to start to recover Ihe ground lost to the pandemic. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Landguard Fort Trust Is conslituled by Deed of Trust and is a Registered Charity No 1044712 and an Incorporated Company limited by Guarantee No 3024733. Recrultment and appolntment of new trustees Individuals who make themselves known to the Trust or who are identFfied as potential trustees ar6 inteNiewed by two trustees and are then invited to observe at a Trustee meeting. Potential trustees are required lo sign the Trustee Code of Conduct and are then c(hopted to attend Trustee meetings until the next Annual General Meeting. At the AGM new Trustees are subject to election by members and can then serve. Trustees retire by rotstion, one third retiring every year. Trustees may then apply for r￿lectiOn as specffied in the MeTnorandum of Association. Landguard Fort Trust is an acttve member of The Landguard and Felixstowe COnse￿ation Trust (fornierty The Landguard Pathership} which is a collection of Landguard Peninsular stakeholders who coordinate the managemènt of the peninsula and develop and implement plat7S to improve the area as a visilor attraction whilst conserving the heritage and habital. Related parties There ar8 m transactions wtth related parties requiring disclosure. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company Number 3024733 (England and Wales) Roglstsrod Charlty Numbor 1044712 Rogistered office Landguard Fort Wiew Point Road Felixstowe IP113TW Independent examiner Adrian Rush Bankers The Trusvs bankers are TSB Bank plc, 33 Harniltc￿ Road, Felixst0v￿, IP117BA. behalf by= Page 6 rd ort of the Trustees f r the Year End 1De mber 2 21 Mr T Clark8- Trustee Page 7 Ind8 ndent Examinevs R Land uard Fort Trust e Trustees of Independent examiner's report to the trustees of Landguard Fort Trust {Ihe Compan￿> I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 De￿rnber 2021. Responslbillties and basls of report As the charity's trustees of the Company (and also tts directors for the purposes of company law> you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 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 Charitiés Act 2011 ('Ih8 2011 Act,). In carrying out my examlnation I have followed the Directions given by th8 Charity Commission under section 145{5) (bl of the 2011 Act. Independent examlnevs ststement I have completed my examination. I confim that no matters have come to rny att8ntlon In conneth'on wlth the examinats'on giving me cause to b8lieve- accountlng records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those r￿ordS. or the acwunts do not comply wtth the accountlng requirements of sectfon 396 of the 2006 AGt other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independerrt examination. or the accounts have not been prepared in accordance wth the methods and principles of the Slatement of Recommended practi￿ for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting StatKlard applicable in the UK and Republic of Ireland (FRS 102}). I have no concems and have come acmss no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a prop8r understanding of the accounts to be reached. Adrian Rush Date: Page 8 Landguard Fort Trust Statement of Financial Activities for the Year Ended 31 December 2021 |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,490
**Charitable activities**
English Heritage
39,844
Other trading activities
2
39,146
Investment income
3
381
Other income
6,569
**Total**
87,430
**EXPENDITURE ON**
Raising funds
18,728
**Charitable activities**
Fort opening
19,890
Other
43,139
**Total**
81,757
**NET INCOME**
5,673
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
197,530
**TOTAL FUNDS CARRIED FORWARD**
203,203|Restricted
funds
£
10,911
-
-
-
-
10,911
-
3,114
563
3,677
7,234
2,500
9,734|31.12.21
Total
funds
£
12,401
39,844
39,146
381
6,569
98,341
18,728
23,004
43,702
85,434
12,907
200,030
212,937|31.12.20
Total
funds
£
13,459
69,185
9,959
749
8,305
101,657
3,806
11,333
60,900
76,039
25,618
174,412
200,030| |---|---|---|---| The notes form part of these financial statements Page 9 Landguard Fort Trust ## Balance Sheet 31 December 2021 |Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
9
17,009
Heritage assets
10
21,809
38,818
**CURRENT ASSETS**
Stocks
11
11,764
Debtors
12
26,452
Cash at bank and in hand
129,797
168,013
**CREDITORS**
Amounts falling due within one year
13
(3,628)
**NET CURRENT ASSETS**
164,385
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
203,203
**NET ASSETS**
203,203
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
866
-
866
-
5,537
3,331
8,868
-
8,868
9,734
9,734|31.12.21
Total
funds
£
17,875
21,809
39,684
11,764
31,989
133,128
176,881
(3,628)
173,253
212,937
212,937
203,203
9,734
212,937|31.12.20
Total
funds
£
18,964
21,809
40,773
14,659
36,859
109,938
161,456
(2,199)
159,257
200,030
200,030
197,530
2,500
200,030| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 with 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. The notes form part of these financial statements Page 10 continued... rd Fort Trust B81ance Sheet- continued 31 December 2021 These financial statements have been prepared in accordance with the pmisions applicable to (*aritable companies subject to the small companies regime. The financial statements were approved by ihe Board of Trustees and authorised for issue on and were signed on its behalf by- Mr T Clarke- Trustee The notes form part of these financial statements Landguard Fort Trust Notes to the Financial Statements for the Year Ended 31 December 2021 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The trustees consider that there are sufficient reserves to enable the Trust to continue as a going concern. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is shown net of VAT. Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and Is not deferred. Investment income is recognised on a receivable basis. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is shown net of VAT. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Charitable activities** Charitable expenditure shall include all expenditure directly related to the objects of the charity including the following :- - Activities in furtherance of the charity's objectives The cost of goods and services and ancillary trading costs that have been incurred in charitable activities. - Support costs of activities Support costs of activities for charitable purposes comprising the salary costs of the Manager. ## **Tangible fixed assets** All assets costing more than £500 are capitalised and valued at historical cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Page 12 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **1. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Improvements to property - 10% on cost Video and audio equipment - 33% on cost ## **Heritage assets** All heritage assets are stated at cost less depreciation. Where in the opinion of the Trustees the estimated residual value is not markedly different from the carrying amount no depreciation is charged as it is deemed immaterial ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** As a registered charity, the Trust is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. . ## **Fund accounting** The Charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the Trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above. Any other proposed transfer between funds would be considered on the particular circumstances. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||31.12.21|31.12.20| ||£|£| |Events|1,075|-| |Shop and Tea Room income|27,298|8,547| |Ticket office sales|4,883|1,412| |Groups & tours|2,014|-| |Trails|3,876|-| ||39,146|9,959| |||| Page 13 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **3. INVESTMENT INCOME** **----- Start of picture text -----**
|||| |---|---|---| |31.12.21|31.12.20| |£|£| |Rents received|-|48| |Deposit account interest|381|701| |381|749| |NET INCOME/(EXPENDITURE)| |Net income/(expenditure) is stated after charging/(crediting):| |31.12.21|31.12.20| |£|£| |Depreciation - owned assets|3,332|8,320| **----- End of picture text -----**
## **4. NET INCOME/(EXPENDITURE)** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **6. STAFF COSTS** The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |31.12.21|31.12.20| |Administration|1|2| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** **----- Start of picture text -----**
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|10,959|2,500|13,459| |Charitable activities| |-| |English Heritage|69,185|69,185| |-| |Other trading activities|9,959|9,959| |Investment income|749|-|749| |Other income|8,305|-|8,305| |Total|99,157|2,500|101,657| **----- End of picture text -----**
Page 14 continued... Landguard Fort Trust ## Notes to the Financial Statements - continued for the Year Ended 31 December 2021 |**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**| |---|---|---|---|---| |||Unrestricted|Restricted|Total| |||funds|funds|funds| |||£|£|£| ||**EXPENDITURE ON**|||| ||Raising funds|3,806|-|3,806| ||**Charitable activities**|||| ||Fort opening|10,353|980|11,333| ||Other|60,900|-|60,900| ||**Total**|75,059|980|76,039| ||**NET INCOME**|24,098|1,520|25,618| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|173,432|980|174,412| ||**TOTAL FUNDS CARRIED**|||| ||**FORWARD**|197,530|2,500|200,030| |||||| ## **8. FEES FOR EXAMINATION OF THE ACCOUNTS** The fee charged in respect of the independent examination of the Trust's financial statements for the year ended 31 December 2021 was £500 (2020: £500). The Independent Examiner provides no other professional or business services to the Trust. Page 15 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **9. TANGIBLE FIXED ASSETS** |Improvements Video and
to
audio
property
equipment
£
£
**COST**
At 1 January 2021
25,860
18,363
Additions
-
-
At 31 December 2021
25,860
18,363
**DEPRECIATION**
At 1 January 2021
6,896
18,363
Charge for year
2,583
-
At 31 December 2021
9,479
18,363
**NET BOOK VALUE**
At 31 December 2021
16,381
-
At 31 December 2020
18,964
-
**10.**
**HERITAGE ASSETS**
**MARKET VALUE**
At 1 January 2021 and
31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Fixtures
and
fittings
£
-
2,243
2,243
-
749
749
1,494
-|Totals
£
44,223
2,243
46,466
25,259
3,332
28,591
17,875
18,964
Total
£
21,809
21,809
21,809| |---|---|---| Heritage Assets comprise historic weaponry which was purchased during the financial year ended 31 March 2016. There have been no subsequent additions or disposals nor do the Trustees consider that there is any impairment event requiring to be recognised in the current or in earlier years in relation to this category of assets. The accounting policy for this category of assets is set out in Note 1 to these Accounts. Page 16 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **11. STOCKS** |Goods for resale
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
VAT
Accrued income
Prepayments
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
**14.**
**MOVEMENT IN FUNDS**
At 1.1.21
£
**Unrestricted funds**
General fund
97,789
Artefacts fund
30,000
Heritage Lottery Bid fund
15,000
Capital investment fund
54,741
197,530
**Restricted funds**
Project AV
1,000
Project Drive
1,500
Plan for the future
-
Project Signage
-
2,500
**TOTAL FUNDS**
200,030|31.12.21
£
11,764
31.12.21
£
29,109
1,735
-
1,145
31,989
31.12.21
£
597
352
-
2,679
3,628
Net
movement
in funds
£
8,256
-
-
(2,583)
5,673
-
-
6,663
571
7,234
12,907|31.12.20
£
14,659
31.12.20
£
34,942
777
425
715
36,859
31.12.20
£
520
363
116
1,200
2,199
At
31.12.21
£
106,045
30,000
15,000
52,158
203,203
1,000
1,500
6,663
571
9,734
212,937| |---|---|---| Page 17 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **14. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Capital investment fund
**Restricted funds**
Plan for the future
Project Signage
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Artefacts fund
Heritage Lottery Bid fund
Capital investment fund
**Restricted funds**
LAGBI
Suffolk Armed Forces Weekend
Project AV
Project Drive
**TOTAL FUNDS**|Incoming
resources
£
87,430
-
87,430
10,211
700
10,911
98,341
At 1.1.20
£
65,371
30,000
15,000
63,061
173,432
845
135
-
-
980
174,412|Resources
expended
£
(79,174)
(2,583)
(81,757)
(3,548)
(129)
(3,677)
(85,434)
Net
movement
in funds
£
32,418
-
-
(8,320)
24,098
(845)
(135)
1,000
1,500
1,520
25,618|Movement
in funds
£
8,256
(2,583)
5,673
6,663
571
7,234
12,907
At
31.12.20
£
97,789
30,000
15,000
54,741
197,530
-
-
1,000
1,500
2,500
200,030| |---|---|---|---| Page 18 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **14. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Capital investment fund
**Restricted funds**
LAGBI
Suffolk Armed Forces Weekend
Project AV
Project Drive
**TOTAL FUNDS**|Incoming
resources
£
99,157
-
99,157
-
-
1,000
1,500
2,500
101,657|Resources
expended
£
(66,739)
(8,320)
(75,059)
(845)
(135)
-
-
(980)
(76,039)|Movement
in funds
£
32,418
(8,320)
24,098
(845)
(135)
1,000
1,500
1,520
25,618| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
Artefacts fund
Heritage Lottery Bid fund
Capital investment fund
**Restricted funds**
LAGBI
Suffolk Armed Forces Weekend
Project AV
Project Drive
Plan for the future
Project Signage
**TOTAL FUNDS**|At 1.1.20
£
65,371
30,000
15,000
63,061
173,432
845
135
-
-
-
-
980
174,412|Net
movement
in funds
£
40,674
-
-
(10,903)
29,771
(845)
(135)
1,000
1,500
6,663
571
8,754
38,525|At
31.12.21
£
106,045
30,000
15,000
52,158
203,203
-
-
1,000
1,500
6,663
571
9,734
212,937| |---|---|---|---| Page 19 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **14. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|186,587|(145,913)|40,674| |Capital investment fund|-|(10,903)|(10,903)| |**Restricted funds**|186,587|(156,816)|29,771| |LAGBI|-|(845)|(845)| |Suffolk Armed Forces Weekend|-|(135)|(135)| |Project AV|1,000|-|1,000| |Project Drive|1,500|-|1,500| |Plan for the future|10,211|(3,548)|6,663| |Project Signage|700|(129)|571| ||13,411|(4,657)|8,754| |**TOTAL FUNDS**|199,998|(161,473)|38,525| ||||| The trustees have created the following Designated Funds from Unrestricted Funds: ## **(i) Artefacts Fund - balance at 31 December 2021: £30,000** The Trustees designated an initial £30,000 to this Fund. At 31 December 2020 £21,420 of this Fund is represented by the Heritage Assets included in Note 10 to these Accounts. ## ( **ii) Capital Investment Fund - balance at 31 December 2021: £52,158** The Trustees designated an initial £80,000 to this Fund. At 31 December 2021 this has been reduced to £52,158 as a consequence of cumulative depreciation being charged in respect of the acquired assets as noted above. Of the remaining net balance on this Fund, £16,381 is represented by fixed assets included in Note 9 to these Accounts. ## **(iii) Heritage Lottery Fund - balance at 31 December 2021: £15,000** This Fund has been established by the Trustees to allow the Trust to submit future bids as future opportunities arise, either independently or in partnership with other organisations.. ## **Restricted Funds** Funds established by grants from Felixstowe Town Council as follows: (a) Project AV, in 2020 for additional Audio Visual capability. (b) Project Drive, in 2020 to cover improved visitor experience for disabled and visitors with restricted mobility. (c) Project Signage in 2021 to renew interpretation for visitors. Page 20 continued... Landguard Fort Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ## **14. MOVEMENT IN FUNDS - continued** Fund established by a grant from East Suffolk Council: - (d) Plan for the future, in 2021 to provide a tour guide app for visitors. ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2021. Page 21 Landguard Fort Trust Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |Detailed Statement of Financial Activities
for the Year Ended 31 December 2021||| |---|---|---| ||31.12.21|31.12.20| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|950|584| |Membership fees|540|375| |Grants received|10,911|12,500| |**Other trading activities**|12,401|13,459| |Events|1,075|-| |Shop and Tea Room income|27,298|8,547| |Ticket office sales|4,883|1,412| |Groups & tours|2,014|-| |Trails|3,876|-| |**Investment income**|39,146|9,959| |Rents received|-|48| |Deposit account interest|381|701| |**Charitable activities**|381|749| |English Heritage management fee|24,502|53,843| |English Heritage maintenance fee|15,342|15,342| |**Other income**|39,844|69,185| |Sundry|865|-| |CJRS grants|5,704|8,305| ||6,569|8,305| |**Total incoming resources**|98,341|101,657| |**EXPENDITURE**||| |**Other trading activities**||| |Purchases|17,616|3,745| |Events staging costs|1,112|61| ||18,728|3,806| This page does not form part of the statutory financial statements Page 22 Landguard Fort Trust ## Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |Detailed Statement of Financial Activities
for the Year Ended 31 December 2021||| |---|---|---| ||31.12.21|31.12.20| ||£|£| |**Other trading activities**||| |**Charitable activities**||| |Fort opening|12,602|7,931| |Repairs and renewals|7,619|2,239| |Fort Forward project costs|2,783|1,163| |**Support costs**|23,004|11,333| |**Management**||| |Wages|28,588|33,292| |Pensions|586|634| |Insurance|3,404|3,401| |Postage and stationery|145|704| |Advertising|1,006|2,828| |Sundries|276|743| |Resource Costs|3,040|4,032| |Accountancy|550|668| |Covid costs|-|4,308| |Professional fees|1,345|1,236| |Uniform|672|-| |Depreciation of tangible and heritage||| |assets|3,332|8,320| |**Finance**|42,944|60,166| |Bank charges|258|234| |**Other**||| |Independent examination|500|500| |Total resources expended|85,434|76,039| |**Net income**|12,907|25,618| |||| This page does not form part of the statutory financial statements Page 23