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2022-12-31-accounts

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 2022

For

Landguard Fort Trust

Landguard Fort Trust

Contents of the financial statements for the Year Ended 31 December 2022

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 18
Detailed Statement of Financial Activities 19 to 20

Landguard Fort Trust

Report of the trustees for the Year Ended 31 December 2022

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 2022.

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 (Chair)

Mr S J Curtis

Mr J W Ogden

Mr M Sharman

Mr C D Slemmings (Vice Chair)

Mr M Stephenson (Company Secretary)

Mr K J Sullivan (Treasurer)

Mr P Poole

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

for the Year Ended 31 December 2022

Report of the trustees

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

This report clearly identifies how important volunteers are to the very existence of the Trust and our ability to open the Fort to the public. We carry out several volunteer related activities including:

All of these help to create an atmosphere where volunteers want to contribute their time in looking after and opening a scheduled monument to the public. A special thank you is due to our General Manager, Nicola Barker, who does so much to create such a special environment for our volunteers.

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.

The Landguard and Felixstowe Charitable Trust

This year also saw the foundation of the Landguard and Felixstowe Charitable Trust. This charity which is a Community Interest Organisation (CIO) succeeds the old Landguard Partnership which had no legal status. The Board of Trustees is comprised of representatives from East Suffolk District Council (ESDC), English Heritage (EH), Landguard Fort Trust (LFT), Felixstowe Museum (FM) and the Landguard Conservation Trust (Bird Observatory), five independent trustees and an independent Chair.

The Charitable objectives of the new Trust are to promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment and preservation of the historical architectural, archaeological, and natural heritage of Landguard point and surrounding areas by (a) working with stakeholders, local voluntary groups and other partners, and (b) providing or assisting in the provision of advice, support and grants.

Landguard Fort Trust will be working closely with the new body to promote all our charitable objectives.

Page 2

Landguard Fort Trust

for the Year Ended 31 December 2022

Report of the trustees

Achievement and performance

Charitable activities

This year saw the resumption of activities to near normal levels but without early season opening during the February half term. There was a relatively full programme of events throughout the year, including the late Queen’s Jubilee celebration, partnering with Felixstowe Carnival, and culminating with the very successful Halloween and Christmas events. We welcomed over 22,000 visitors to the fort, well ahead of our post covid target of 18,000 visitors.

Once again, the shop and tearoom provided a fantastic service for our visitors and provided an essential income stream to support our activities. A great deal of effort increased the range of our retail offer in both shop and tearoom.

We welcomed Clare Baker who joined the management team as Deputy Manager, bringing a wealth of experience in tourism combined with her operational knowledge of events in Felixstowe.

The recovery plan formulated at the close of the 2021 season included the allocation of funds to create the new Deputy Manager post and enable the Trust to mount a greater number of events whilst supporting our volunteers. As part of that plan a new financial arrangement regarding income and financial support was agreed with English Heritage. Our thanks to Katie Chown, Free Sites Partnership Manager (East) of English Heritage, who helped to facilitate the new arrangement for the Trust.

We also welcomed Jude Courtney as part of the Kick Start programme. The Trust were delighted to be part of the programme and were really pleased with Jude’s help during our ‘recovery’ season. He made a great contribution and also returned as a volunteer; we all wish him well for the future.

The enhancement of displays is critical to the educational role of the Trust and the completion of the upgrade of the interpretation signage was a truly significant achievement. The reorganisation of the workshop combined with an ever-increasing supply of innovative designs for events meant a considerable amount of work for all the handy volunteers. The range of work, from preparing Scheduled Monument Consents, throne construction and everything in between is a testimony to both how skilful and how generous with their time, are volunteers. A list of other achievements for 2022 from the Fort Forward team include:

A huge thank you to everyone involved in the projects and to Trustee Steve Curtis for leading the group.

Financial review

Financial position

The financial statements are set out on pages 7 to 18. 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 2019) – (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 £30,778 (2021: £12,907). Total Funds at 31 December 2022 stand at £243,715 (2021: £212,937). 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.

Page 3

Landguard Fort Trust

for the Year Ended 31 December 2022

Report of the trustees

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:

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 2022.

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.

Future plans

The Trust continues to develop the facilities and interpretation of the fort in order to attract visitors. The funds generated enable the Trust to continue its educational activity and to enable both local people and visitors to have access to and experience their heritage.

Structure, governance and management Governing document

The Landguard Fort Trust is constituted by Deed of Trust and is a Registered Charity No 1044712 and an Incorporated Company limited by Guarantee No 3024733.

Page 4

Landguard Fort Trust

Report of the trustees for the Year Ended 31 December 2022

Structure, governance and management

Recruitment and appointment of new trustees

Individuals who make themselves known to the Trust or who are identified as potential trustees are interviewed by two trustees and are then invited to observe at a Trustee meeting. Potential trustees are required to sign the Trustee Code of Conduct and are then co-opted 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 rotation, one third retiring every year. Trustees may then apply for re-election as specified in the Memorandum of Association.

Landguard Fort Trust is an active member of The Landguard and Felixstowe Conservation Trust (formerly The Landguard Partnership) which is a collection of Landguard Peninsular stakeholders who coordinate the management of the peninsula and develop and implement plans to improve the area as a visitor attraction whilst conserving the heritage and habitat.

Related parties

There are no transactions with related parties requiring disclosure.

Reference and administrative details

Registered Company Number

3024733 (England and Wales)

Registered Charity Number

1044712

Registered office

Landguard Fort View Point Road Felixstowe IP11 3TW

Independent examiner

Adrian Rush

Bankers

The Trust's bankers are TSB Bank plc, 33 Hamilton Road, Felixstowe, IP11 7BA.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. Mr T Clarke - Trustee

Page 5

Independent examiner's report to the trustees of Landguard fort trust

Independent examiner's report to the trustees of Landguard Fort Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

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 preparation 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 examiner's 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:

  1. 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 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 concerns 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 understanding of the accounts to be reached.

Adrian Rush

Date: .............................................

Page 6

Landguard Fort Trust

Statement of financial activities for the Year Ended 31 December 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
78,131
20,004
Charitable activities
English Heritage
7,484
-
Other trading activities
2
64,915
-
Investment income
3
780
-
Other income
145
-
Total
151,455
20,004
EXPENDITURE ON
Raising funds
31,794
-
Charitable activities
Fort opening
26,299
7,543
Other
56,349
18,696
Total
114,442
26,239
NET INCOME/(EXPENDITURE)
37,013
(6,235)
RECONCILIATION OF FUNDS
Total funds brought forward
203,203
9,734
TOTAL FUNDS CARRIED FORWARD
240,216
3,499		 31.12.22
Total
funds
£
98,135
7,484
64,915
780
145
171,459
31,794
33,842
75,045
140,681
30,778
212,937
243,715		 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

The notes form part of these financial statements

Page 7

Landguard Fort Trust

Balance sheet

31 December 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
9
15,716
999
Heritage assets
10
21,809
-
37,525
999
CURRENT ASSETS
Stocks
11
11,257
-
Debtors
12
6,716
-
Cash at bank and in hand
193,967
2,500
211,940
2,500
CREDITORS
Amounts falling due within one year
13
(9,249)
-
NET CURRENT ASSETS
202,691
2,500
TOTAL ASSETS LESS CURRENT
LIABILITIES
240,216
3,499
NET ASSETS
240,216
3,499
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.12.22
Total
funds
£
16,715
21,809
38,524
11,257
6,716
196,467
214,440
(9,249)
205,191
243,715
243,715
240,216
3,499
243,715		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 8

continued...

Landguard Fort Trust

Balance sheet - continued 31 December 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the 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

Page 9

Landguard Fort Trust

Notes to the financial statements for the Year Ended 31 December 2022

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 :-

The cost of goods and services and ancillary trading costs that have been incurred in charitable 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.

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

Page 10

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES - continued

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

3.

4.

OTHER TRADING ACTIVITIES
31.12.22 31.12.21
£ £
Events 17,129 1,075
Shop and Tea Room income 37,277 27,298
Ticket office sales 655 4,883
Groups & tours 3,284 2,014
Trails 6,570 3,876
64,915 39,146
INVESTMENT INCOME
31.12.22 31.12.21
£ £
Deposit account interest 780 381
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.22 31.12.21
£ £
Depreciation - owned assets 3,817 3,332

Page 11

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

7.

31.12.22 31.12.21
Administration 2 1
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,490 10,911 12,401
Charitable activities
English Heritage 39,844 - 39,844
Other trading activities 39,146 - 39,146
Investment income 381 - 381
Other income 6,569 - 6,569
Total 87,430 10,911 98,341
EXPENDITURE ON
Raising funds 18,728 - 18,728
Charitable activities
Fort opening 19,890 3,114 23,004
Other 43,139 563 43,702
Total 81,757 3,677 85,434
NET INCOME 5,673 7,234 12,907
RECONCILIATION OF FUNDS
Total funds brought forward 197,530 2,500 200,030
TOTAL FUNDS CARRIED FORWARD 203,203 9,734 212,937

Page 12

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

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 2022 was £500 (2021: £500). The Independent Examiner provides no other professional or business services to the Trust.

9. TANGIBLE FIXED ASSETS

Video and
Fixtures
Improvements
audio
and
to property
equipment
fittings
£
£
£
Cost
At 1 January 2022
25,860
18,363
2,243
Additions
-
-
2,657
At 31 December 2022
25,860
18,363
4,900
Depreciation
At 1 January 2022
9,479
18,363
749
Charge for year
2,586
-
1,231
At 31 December 2022
12,065
18,363
1,980
Net book value
At 31 December 2022
13,795
-
2,920
At 31 December 2021
16,381
-
1,494
10.
HERITAGE ASSETS
Market value
At 1 January 2022 and
31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Totals
£
46,466
2,657
49,123
28,591
3,817
32,408
16,715
17,875
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 13

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

11. STOCKS
31.12.22 31.12.21
£ £
Goods for resale 11,257 11,764
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£ £
Trade debtors 2,127 29,109
VAT 1,677 1,735
Prepayments 2,912 1,145
6,716 31,989
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£ £
Trade creditors 4,894 597
Social security and other taxes 689 352
Accrued expenses 3,666 2,679
9,249 3,628
14. MOVEMENT IN FUNDS
Net
movement At
At 1.1.22 in funds 31.12.22
£ £ £
Unrestricted funds
General fund 106,045 39,599 145,644
Artefacts fund 30,000 - 30,000
Heritage Lottery Bid fund 15,000 - 15,000
Capital investment fund 52,158 (2,586) 49,572
203,203 37,013 240,216
Restricted funds
Project AV 1,000 - 1,000
Project Drive 1,500 - 1,500
Plan for the future 6,663 (6,663) -
Project Signage 571 (571) -
Defibrillator fund - 999 999
9,734 (6,235) 3,499
TOTAL FUNDS 212,937 30,778 243,715

Page 14

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 151,455 (111,856) 39,599
Capital investment fund - (2,586) (2,586)
151,455 (114,442) 37,013
Restricted funds
Plan for the future - (6,663) (6,663)
Project Signage - (571) (571)
Kick Start fund 6,696 (6,696) -
Defibrillator fund 1,308 (309) 999
Deputy fund 12,000 (12,000) -
20,004 (26,239) (6,235)
TOTAL FUNDS 171,459 (140,681) 30,778

Comparatives for movement in funds

Net
movement At
At 1.1.21 in funds 31.12.21
£ £ £
Unrestricted funds
General fund 97,789 8,256 106,045
Artefacts fund 30,000 - 30,000
Heritage Lottery Bid fund 15,000 - 15,000
Capital investment fund 54,741 (2,583) 52,158
197,530 5,673 203,203
Restricted funds
Project AV 1,000 - 1,000
Project Drive 1,500 - 1,500
Plan for the future - 6,663 6,663
Project Signage - 571 571
2,500 7,234 9,734
TOTAL FUNDS 200,030 12,907 212,937

Page 15

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 87,430 (79,174) 8,256
Capital investment fund - (2,583) (2,583)
87,430 (81,757) 5,673
Restricted funds
Plan for the future 10,211 (3,548) 6,663
Project Signage 700 (129) 571
10,911 (3,677) 7,234
TOTAL FUNDS 98,341 (85,434) 12,907

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.1.21 in funds 31.12.22
£ £ £
Unrestricted funds
General fund 97,789 47,855 145,644
Artefacts fund 30,000 - 30,000
Heritage Lottery Bid fund 15,000 - 15,000
Capital investment fund 54,741 (5,169) 49,572
197,530 42,686 240,216
Restricted funds
Project AV 1,000 - 1,000
Project Drive 1,500 - 1,500
Defibrillator fund - 999 999
2,500 999 3,499
TOTAL FUNDS 200,030 43,685 243,715

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continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

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 238,885 (191,030) 47,855
Capital investment fund - (5,169) (5,169)
238,885 (196,199) 42,686
Restricted funds
Plan for the future 10,211 (10,211) -
Project Signage 700 (700) -
Kick Start fund 6,696 (6,696) -
Defibrillator fund 1,308 (309) 999
Deputy fund 12,000 (12,000) -
30,915 (29,916) 999
TOTAL FUNDS 269,800 (226,115) 43,685

The trustees have created the following Designated Funds from Unrestricted Funds:

(i) Artefacts Fund - balance at 31 December 2022: £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 2022: £49,572

The Trustees designated an initial £80,000 to this Fund. At 31 December 2022 this has been reduced to £49,572 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, £13,797 is represented by fixed assets included in Note 9 to these Accounts.

(iii) Heritage Lottery Fund - balance at 31 December 2022: £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:

Funds established by a grant from East Suffolk Council:

Page 17

continued...

Landguard Fort Trust

Notes to the financial statements - continued for the Year Ended 31 December 2022

14. MOVEMENT IN FUNDS - continued

Fund established by a grant from The Food Kitchen:

Fund established by a grant from Felixstowe Lions Club:

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

Page 18

Landguard Fort Trust

Detailed statement of financial activities for the Year Ended 31 December 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Membership fees
Admissions
Grants received
Other trading activities
Events
Shop and Tea Room income
Ticket office sales
Groups & tours
Trails
Investment income
Deposit account interest
Charitable activities
English Heritage management fee
English Heritage maintenance fee
Other income
Sundry
CJRS grants
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Events staging costs
Charitable activities
Fort opening
Repairs and renewals
Fort Forward project costs		 31.12.22
£
3,292
140
72,700
22,003
98,135
17,129
37,277
655
3,284
6,570
64,915
780
7,484
-
7,484
145
-
145
171,459
24,002
7,792
31,794
14,631
11,712
3,528
29,871		 31.12.21
£
950
540
-
10,911
12,401
1,075
27,298
4,883
2,014
3,876
39,146
381
24,502
15,342
39,844
865
5,704
6,569
98,341
17,616
1,112
18,728
12,602
7,619
2,783
23,004

This page does not form part of the statutory financial statements

Page 19

Landguard Fort Trust

Detailed statement of financial activities for the Year Ended 31 December 2022

Detailed statement of financial activities
for the Year Ended 31 December 2022
Support costs
Management
Wages
Pensions
Insurance
Postage and stationery
Advertising
Sundries
Resource Costs
Accountancy
Professional fees
Uniform
Depreciation of tangible and heritage
assets
Finance
Bank charges
Other
Independent examination
Total resources expended
Net income		 31.12.22
£
57,694
1,007
3,279
467
2,712
-
4,340
1,871
2,000
782
3,817
77,969
547
500
140,681
30,778		 31.12.21
£
28,588
586
3,404
145
1,006
276
3,040
550
1,345
672
3,332
42,944
258
500
85,434
12,907

This page does not form part of the statutory financial statements

Page 20