REGISTERED COMPANY NUMBER." 03024733 (England and Walos) REGISTERED CHARITY NUMBER: 1044712 Re ort of th8 trustees and Unaudited financial statements for the nod 1 Janua 2023 to 1 March 2024 For Land uard F Trust
Land uard Fort Trust Contents of the financial statements for the Period 1 Janua 2023 to 31 March 2024 Page Report of the Trustees 1 to 6 Independent Examiner's Report Statement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 18 Detsiled Ststement of Financlal Acllvltles 19 to 20
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 The Trustees. who are also directors of the Charity for the pury))ses of the Companies Act 2006. present their report with th@ independently examined financial statements of the Charity for the fifteen months ended 31 March 2024. The Charity is a Company limited by guarantee and has no share capitsl and was incorporated on 21st February 1995. The Charity was estsblished under a Memorandum of Associatlon and is governed under its Articles of Association. The Trustees Mr T Clarke (Chair) Mr S J Curtis Mr J W Ogden Ms N Pace (appointed 23 March 2023} Mr P Poole Mr M Shannan Mr C D Slemmings (Vice Chair) Mr M Stephenson {Company Secretary) Mr K J Sullivan (Treasurer) Objectives and actlvlties Objectives and alms The main obj8Ctive is to increase the public's understanding and educational use of the fort. in the form of tha written word, illustrations, guided tours, audio-visual presentab.ons and the staging of special events in and around the Fort. The objectlves of the Charity are to advance the educat#)n of the public about.. the role of Landguard Fort, Fdixstowe 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 Ives Significant activities The Charitls aims are to open Landguard Fort to the public and to create a unique exhibition. educational facilty and visitor attraction. This is achieved through a Local Management Agreement with English Heritage Trust and th8 recruitment of a force of Landguard Fort Volunteers without whom the aspirations could not be met. A General Manager and Operations Assistsnt are employed to OV8rsee the day to day running of the Trust's activities. The Trustees work with English H8ritsge Twst. Felixstowe Town Council. East Suffolk Council, the Landguard Partnership. the recenlly fomied Landguard and Felixstowe Conservats'on Trust and the Port of Felixstowe and thank them for their continuing and valued supp)rt. without which it would be considerably more difficult for the Trust to meet its charitable objectives. Page I
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 Objectives and activities Public benefit The Trustees confirm that they have paid due regard to the Charity Commission's guidance on public ben8frt and have strived to ensure that the Charitys acb'vities reflect this. For the public benefit the Trust informs V151tors of the history of Landguard Fort which is part of the heritsge of England. This includes axhibitions of the lives and work of the soldiers who lived there throughout th8 P8riod 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 radlo advertising and prlnted and social media channels to reach potential new audiences. We actlvely encourage visits from young8r audlences wlth a policy of not only providing free wsits 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. Voluntsers Volunt88rs are vital for the very existence of the Fort Twst and we continue to demonstrate. as we have for over 30 years. our love for Landguard Fort and our commitm8nl to displayin9 it for the benefit of the public. The Trust continues to support volunteers through a variety of activities including: Smartlog H&S training NCVO training Breakfast 'club' Quiz and meal evenings Annual Luncheon Volunteer wellbelng . EH Afflllate Scheme All of this helps to create an atmosphere Whe volunteers want to contribute their tirne in looking after and opening a scheduled monumenl to the public. We wannly w81come new Volunteers aged 18 and above from all backgrounds. can always find an area of interest in which to contribute to and join a communty which not only prepares and presents the fort for our m8ny visilors but also enjoy3 th6 fun of working together and shared social events. Page 2
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 Achievement and perfomiance Charitable activities This 15-month period from January 2023 until March 2024 saw our second true seasonal activities since the pandemic but had the cost of living and energy crisis to contend with. Visitor numbers held up. but not quite returning to pre pandemic levels. in common with many other sectors. We welcom8d 26.150 visitors to the fort. well ahead of our post covid target of 18,000 visitors. Once again, the shop and tsaroom provided an excelient S8Péice for our visitors and provided an essential income stream to support our activities. This included valuable income from supp(xting ticketed special events. We sadly said goodbye to our longstsrmjing General Manager. Nicola Barker at the end of March 2024. Nicola has been an inspiratlon to all our volunteers and helped guide us all through the most dlfficult operating years In our history, keeplng volunteers together and then r8buildlng our operations after covld with all the anxiety that thos8 years enlalted. Her ingenuty and enthusiasm for events th1¢h helped enable us to bulld our annual programme into what it is today- Thank you Nicola! Our new General Manager Elian Shipp joined us at the very end of this financial period - welcome Elianl 2023 also saw the passing of Dave WOCKI who was a founding trustee responsible for the openIng of Landguard Fort and widely respected for his knowledge of ForbrtionS. As chair I had the privilege of working with Dave whose knowledge was unsurpassed. His devotion of his time to the support of the Fort and indeed fortifications in general was incredible. His publi&qtion is sts'll being sold by us today. he will be sorely missed. Dave's family kindly donated many ilems from his awd collecling over the sears wthich was greatly appreciated. To mark Dave's contribution. we have had a plaque made which V¥ill be mounted in a celebration with Dave's family. Our Fort Forward group, ably chaired by Steve Curtis continues to dfive projects 1¢h improve interpretation for visitors, with the team notsbly working hard during this perlod on the Seaward Defenca HQ. while also preparing the background for the Anti-Aircraft display. Other projects included: Enhanced the interpretation in the replica gun room with an animation film showlng how the gun was operated . Completed the broadband uplift project. linking the fort, nature reserve. museum and bird observatory . Created the ViGtorian Officerfs kitchen Replaced the phones with a digital cloud voice s>Etem Installed a new CCTV system Toilets.. In collaboration with Tim Buxbaum, a Landguard and FelixstOW8 Conservation truslee, progress has b8en made on the design of the proposed toil8t block. Several test holes were dug to survey the site to detemine th@ type of foundations required for the toilet block. The maintenancelworkshop team provided rnagnifint support with displays both for events and for interpretation boards. These are critical contrili0nS bvhen the purchase cost of manufactured items would be prohibrtiV8. The enhancement of displays Is critlcal to the educatw)nal role of the Trust and the reinvigoratlon of the interpr&tation signage continues to impress. Tours Our tour programme continued to expand with items such as the Roof 4op tour and the ever successful 'Ghost Tours, _ thank you to Tony Smith and the tearn. Page 3
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 Financial revlew Financial position The financial statements are set out on pages 8 to 19. The financial statements have prepared in accordance with Accounting and RertIng 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 finan(ial performance by the Charity during the year to have been satisfactory. In common with most organisations, the Trust is exposed to increaslng costs at the present tlme. Notwlthstandlng this, In association with English Heritage Trusl it was decided not to ralse our visitor admission prices for a second year thereby further maklng the fort an even better value-for-money destination. The Statement of Financial Activities shows net incom8 for the per of £4,266 (2022: £30.778). Total Funds at 31 March 2024 stand at £247.981 {31 December 2022.. £243,715). The Trustees are satisfied that the Charity holds an adequate arnnt of liquid assets (in the fomi of bank and building society deposits) to ensure that it is able to meet its obligats'ons as they fall due. Page 4
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 Financial revlew Reserves policy Unrestrlctod Funds Free reserves are represented by net wrrent assets 1th]n 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 managementlovethead costs The Trustees continue to take inlo account relevant guidan, induding 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 detenmine an apwopriate and prudent level of reserves, together wf(h an appropriate management framework. Doslgnat•d Funds As part of its review of R&8errfes the Trustees have confirnied th8 designats'on of Unrestricted Funds in respect of the following strategic dev8lopments induded within the Trust's current strategic plans: (i) Artefacts Fund The Trust is always lookirYJ at ways to enhance its coll8¢lion of artrfacts, particularly ordnance. These items are infrequently available and the Trust needs to be able to respond promplly to any opportunity as It emerges. In recent years the Trust has spent over £25,000 on ordnance. (li) Capltal Investment Fund Several large-scale improvements have been identified by the Trustees as being required both lo further enhance the visitor experience and promole the Trusys obj8ctives or lo ensure that artefacts are maintained in a suitable environment. (ill) H8riiag8 Lottery Fund There are significant opportunities for accessing Heritage Lottery funds which normally require an elemgnt 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 parinership with other OrganisallS. (iv) Visitor Facilities FurKI Portable chemical toilets have been in use at the fort for many years. The signfficant 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 frorn the Capital Investrnent Fund with an additi'onal £30,OIJO from the General Fund for a project to provide perrnanent visitor frdcilities. It is hot*d that extemal funding can also be secured in this respect as the overall cost is likety to be sp3nificant. Future plans The Trust continues to develop the faGrfities and interpretation of the fort in order to attract visitors. The fund5 generated enable the Trust to continue its educational activty and to enable both local people and visitors to have access to and experi8nce Iheir heritage. Structure, governance and management Governing document The Landguard Fort Trust is constituted by Deed of TnJst and is a Registered Charity No 1044712 and an Incorporated Company limiied by Guarante8 No 3024733. Page 5
Land uard Fort Trust Re ort of the trustees for the Period 1 Janua 2023 to 31 March 2024 structure, governance and management R8cruitm•nt and appointment of new trustees Individuals who make themselves known to the Trusl or who are identified as potential trustees ar8 interviewed by 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 rolation. one third retiring every year. Twstees may then apply for re-election as specified in the Memorandum of Association. Landguard Fort Trust is an active member of The Landguard and Feltxstowe Conservation Twst (fomierly The Landguard Partnership) lch is a collection of Landguard Penlnsular stskeholders vtho coordinate the management of the peninsula and develop and Implement plans to Improve the area as a vlstior attraction whilst conserving the heritage and habitaL Related parti08 There are no transaclions with related parties requiring disclosure. Reference and admlnlstratlve d•talls Registered Company Number 3024733 (England and Wales) Reglstered Charlty Number 1044712 Registered offlca Landguard Fort View Point Road Felixstowe IP113TW Independent examlner Adrian Rush 150 Chelsworth Road FelixstOW8 IP112UJ Bankers The Trust s bankers are TSB Bank plc, 16 Buttermarket, Ipswich. IP11BG Approved by order of the board of trustees on .. . and signed on its behalf by: Mr T Clark8 - Truste8 Page 6
Inde Land endent examinerfs re uard fort trust ort to the trustees of Indepgndent examinerfs report to trnstees of Landguard Fort Trust fthe Company) I report to the charity trustees on my examination of the ac(X>unts of the Company for the period 1 January 2023 to 31 March 2024. Responslbillties and basis of report As the charitys trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of trE 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 chariws accounts as carried out under Section 145 of the Charities Act 2011 ('Ihe 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 exarninerfs statemant I have completed my examination. I confirm that matters have come to my attention in connection with Ihe examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 the accounts do not accord with those records: or th8 accounts do not comply wtth the accounting requirements of Section 396 of the 20C6 Act other than any requlrement that Ihe accounts glve a true and falr vlèw which Is not a matter consldered as part of an indepeTrJent examination,. or the accounts have not been prepared In accordance wth the methods arKI prlnciples of the Statement of Recommended Practice for accounts'ng and reporting by charib'es (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 vrith the examination to which attention should b6 drawn In this report in order to enable a proper understanding of the accounts to be reached. Adrian Rush l.S.fAhl y4lY. 20?S Date: . Page 7
Land uard Fort Trust Statement of financial activities for the Period 1 Janua 2023 to 31 March 2024 Period 1.1.23 to Year Ended 31.3.24 31.12.22 Total Total funds funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 98.004 98.004 98,135 Charitable activitles English Heritage 7.484 Other trading activities Invesbment income Other income 80,353 3,481 516 80,353 3,481 516 64,915 780 145 Total 182.354 182.354 171,459 EXPENDITURE ON Raising funds 38.878 38,878 31,794 Charftable actlvltles Fort opening 31,914 31,914 33,842 Other 106,735 561 107,296 75,045 Total 1TT,527 561 178,088 140,681 NET INCOMEI(EXPENDrruRE) 4,827 (561) 4,266 30,778 RECONCILIATION OF FUNDS Total funds brought folward 240.216 3.499 243,715 212.937 TOTAL FUNDS CARRIED FORWARD 245.043 2,938 247,981 243,715 The notes form part of these financial statements Page 8
Land uard Fort Trust Balance sheet 31 March 2024 31.3.24 Total funds 31.12.22 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets Heritage assets 15.149 22.581 15.149 22.581 16,715 21,809 10 37,730 37.730 38.524 CURRENT ASSETS Slocks Deblors Cash at bank and in hand 14.002 7.864 192.739 14,002 7.864 195.677 11.257 6,716 196.467 12 2.938 214,605 2.938 217.543 214.440 CREDITORS Amounts falling due within one year 13 {7.292) (7.292) {9.2491 NET CURRENT ASSETS 207,313 2,938 210,251 205,191 TOTAL ASSETS LESS CURRENT LIABILITIES 245.043 2.938 247,981 243,715 NET ASSETS 245,043 2.938 247,981 243,715 FUNDS Unrestrlcted funds Restricted funds 14 245.043 2,938 240,216 3,499 TOTAL FUNDS 247,981 243,715 The charitable company is entitled to exemption from audit under Section 477 of the Companias Act 2006 for the period ended 31 March 2024. The members have nol required the company to obtsin an audit of its financial statem8nts for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitsble company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a Irue and fair view of the state of affairs of the charrtable Gompany as at the end of each financial year and of its surplus or deficFt for each financial year in aGcordance 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 fonn part of these financial statements Page 9 continued...
Land uard Fort Trust Balan sheet - continued 31 March 2024 These financial statements have be8n prepared in accordan with the provisions applicable to charitable Companies subject to the small companies regirne. The financial ststements were approved by Ihe Board of Trustees and authorised for issu8 on . and were signed on its behalf by: MrT Clarke- Trustee The notes fomi part of these financial statements Page 10
Land uard Fort Trust Notes to the financial statements for the Period 1 Janua 2023 to 31 March 2024 ACCOUNTING POLICIES Basis of preparlng the financlal statements The financial statements of the charitable company, which is a public benefft 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 Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),. Financial Reporting Stsndard 102 The Financial Reporting Stsndard appliGable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been pr8pared under the histori1 cost convention. The trustees consider that there are sufficlent r&8erves to enable the Trust to cxjntinue as a golng concern. Assets and liabilities are inib'ally recognised at historical cosl or transaction value unless otheIS& stated in the relevant accounting policy note(s). Incom• All Income is recognised in the Ststement of Financial Aclivib"es once the charity has entitlement to the funds, it is probable that the income will b8 received and th8 amount can be m8asured reliatrAy. Income is shown n8t of VAT. Incom& from grants is recognised when the charity has enmlement to the funds. any performance conditions attached tri the grants have been met, it is probable that the incA)me will b8 received and the amount can be measured reliably and Is not deferrèj. Investrnent Incom8 is recognlsed on a recelvable basis. Expendlture Liabilities are recognlsed as expenditure as soon as there Is a legal or constructlve obligatlon committing Ihe charity to that expenditure. it is probable that a transfer of economic benefits will be reqUId in settlement and the amount of the obligats.on can be measured reliably. Expenditure is shown net of VAT. Expenditure is accounted for on an accruals basis and has been ctassified under headings that aggregate all cost related lo the category. Where costs cannol be direcuy attributed to particular headings they have been allocated to acb'vities on a basis consistent with the use of resources. Charltable activitles Charitable expenditure shall indude all expenditure directy relatad to the objects of the charity including the following - Activities in furtherance of the charitys objectives The cost of goods and services and ancillary irading 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. Tanglble flxed ass•ts All assets costing more than £51XI are capitalised and valued at historical cost. Depreciation is provided at the followrwJ annual rates in order to write off each asset over ts estimated useful lrfe. Improvements to property - 1 Oyo on cost Video and audio equipment - 33Yo 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 drfferent from the carrying amount no depreciation is charged as it is deemed immaterial Page 11 continued...
Land uard Fort Trust Notes to the financial statements - conts'nued for the Period 1 Janua 2023 to 31 March 2024 ACCOUNTING POLICIES - Continued stocks Stocks are valued at the lower of cost arKI net realisaNe value, after making due allovRnce for obsolete and slow moving items. Taxation As a registered charrty, the Trust is exempt from income arKI 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 repr8sents funds which are expendable at the discretion of the Trustees in furiherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investmenL Th8re is no fomal policy of transfer between funds or on the alk)catk)n of funds to designat&d funds. other than that described above. Any other proposed transfer bebAieen funds would be considered on the particular circumstances. Further explanation of the nature and purpos8 of each fund is included in the notes to the financial statements. OTHER TRADING ACTIVITIES Period 1.1.23 to Year Endad 31.3.24 31.12.22 Events Shop and Tea Room Income Tlcket office sales Groups & lours Trails 29,622 38,084 498 4,891 7,258 17,129 37,277 655 3,284 6,570 80,353 64,915 INVESTMENT INCOME Period 1.1.23 to Year Ended 31.3.24 31.12.22 Deposit account interest 3.481 780 Pa9e 12 continued...
Land uard Fort Trust Notes to the financial statements - conkn'nued for the Period 1 Janua 2023 to 31 March 2024 NET INCOMEI(EXPENDrruRE) Net incomel(expenditure) is stated after ctharging1(crediting): Period 1.1.23 to Year Ended 31.3.24 31.12.22 Depreclatlon - owned assets 6,261 3,817 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the period ended 31 March 2024 nor for the year ended 31 December 2022. Trustees, oxpenses There were no trustees, expenses paid the period ended 31 March 2024 nor for the year ended 31 December 2022. STAFF COSTS The average monthly number of employees during the period was as follows: Period 1.1.23 to Year Ended 31.3.24 31.12.22 Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNrriES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 78.131 98.135 Charltable actfvitles English Heritage 7.484 7,484 Other trading activities Inveslmenl income Other income 64.915 780 145 64,915 780 145 Total 151,455 20.004 171,459 EXPENDrruRE ON Raising funds 31.794 31,794 Charltable actlvltles Fort opening 7.543 33,842 Other 56.349 18,696 75.045 Page 13 continued...
Land uard Fort Trust Notes to the financial ststements - continued for the Period 1 Janua 2023 to 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNrriES - continued Unrestricted Restricted funds funds Total funds Total 114,442 26,239 140,681 NET INCOMEI{EXPENDITURE) 37,013 (6.235) 30,778 RECONCILIATION OF FUNDS Totsl funds brought forward 203,203 9.734 212,937 TOTAL FUNDS CARRIED FORWARD 240.216 3.499 243,715 FEES FOR EXAMINATION OFTHE ACCOUNTS The fee charged in respect of the independent examination of the TwsV8 financial ststements for th8 year ended 31 December 2022 was £500 (2021: £500). The Independent Examiner provides no other professional or business services to the TrusL TANGIBLE FIXED ASSETS Video and Improvements audio to property equipment Fixtures and fittings Totals Cosl At 1 January 2023 Additions 25,860 18,363 49,123 4,695 4.695 At 31 March 2024 25,860 18.363 9,595 53,818 Depreclatlon At 1 January 2023 Charge for year 12.065 3.233 18.363 1.980 3,028 32,408 6.261 At 31 March 2024 15.298 18,363 5,008 38,669 Net book value At 31 March 2024 10.562 4.587 15,149 At 31 December 2022 13,795 2,920 16,715 Page 14 continued...
Land uard Fort Trust Notes to the financial statemenls - continued for the Period 1 Janua 2023 to 31 March 2024 10. HERITAGE ASSETS Total Market value At 1 January 2023 Additions 21,809 772 At 31 March 2024 22.581 Net book valua At 31 MarGh 2024 22,581 At 31 December 2022 21,809 Heritsge Assets comprise historic weaponry which was purchased during the financial year ended 31 March 2016 and the current period. There have been no subsequent disposal. The Trustees do not consider that there Is any impaimient event requiring to be recognised In the CUent period or in earller years In relation to thls category of assets. The accountlng pollcy for thls category of assets is set out in Note 1 to ihese Accounts. 11. STOCKS 31.3.24 31.12.22 Goods for r6sale 14.002 11,257 12. DEBTORS: AMourS FALLING DUE WITHIN ONE YEAR 31.3.24 31.12.22 Trade debto VAT Prepayments 627 2.481 4,756 2.127 1.6T7 2,912 7.864 6,716 13. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 31.3.24 31.12.22 Trade creditors Soci81 security and other taxes other creditors Accrued expenses 2,319 1,334 206 3.433 4.894 689 3,666 7.292 9.249 Page 15 continued...
Land uard Fort Trust Notes to the financial statements - continued for the Period 1 Janua 2023 to 31 March 2024 14. MOVEMENT IN FUNDS Net Transfers movement between in funds funds At 31.3.24 At1.1.23 Unrestrlcted funds General fund Artefacts fund Heritage Lottery Bid fund Capital investment fund Visitor Facilities fund 145.644 30.000 15,000 49,572 8.060 (30,000) 123.704 30,000 15,000 26,339 50,000 (3,233) (20,000) 50.000 240.216 4,827 245,043 Restrlcted funds Project AV Project Dnve Defibrillator fund 1,000 1,500 999 {106) 894 1,500 (455) 3,499 (561) 2,938 TOTAL FUNDS 243,715 4,266 247,981 Net movement in funds, included in the above are as folk)ws: Incoming Resources Movement resources expended in funds Unrestrlcted fund8 General fund Caprtal investment fund 182.354 (174,294) (3.233) 8,060 (3.233) 182,354 (177.52n 4,827 Restrlcted funds Project AV Defibrillator fund (106) (455) (106) (455) (561) (561) TOTAL FUNDS 182.354 (178,088) 4,266 Page 16 conts'nued...
Land uard Fort Trust Notes to the financial statements - continued for the Period 1 Janua 2023 to 31 March 2024 14. MOVEMENT IN FUNDS - contlnued Comparatives for movement in funds Net movement in funds At 31.12.22 At1.1.22 Unrestricted funds General fund Artefacts fund Heritage Lottery Bid fund Capital inv8Stment fund 106,045 30.000 15,000 52,158 39.599 145,644 30,000 15,000 49,572 {2.586) 203.203 37.013 240,216 Rostrfcted funds Project AV Project Drive Plan for the future Project Signage Defibrillator fund 1,OIXI 1,500 6,663 571 1.000 1.500 (6,663) (571) 999 999 9,734 (6,235> 3.499 TOTAL FUNDS 212,937 30,778 243.715 Comparative nel movement in funds. included in the above are as follows: Incoming Resources Movement sources expended in funds Unrestrfcted funds General fund Capital investment fund 151,455 (111,856) {2.586) 39.599 (2,586) 151.455 (114.442) 37,013 Restrlcted funds Plan for the future Project Signage Kick Start fund Defibrillator fund Deputy fund (6,663) (571) (6,696) {309) (12,000) (6,663) (571) 6.696 1,308 12.0(M) 999 20.004 (26.239) (6,235) TOTAL FUNDS 171,459 (140,681) 30,778 The trustees have created the following Designated Funds from Unreslricled Funds: (l) Artefacts Fund - balance at 31 March 2024: £30,000 The Trustees designaled an initial £30,000 to this Fund. At 31 March 2024 £22,580 of this Fund is represented by the HerTtage Assets included in Note 10 to Ihese ACCIntS. (11) Capital Investment Fund - balance at 31 March 2024: £26,339 Page 17 continued...
Land uard Fort Trust Notes to the financial statements - conts'nued for the Period 1 Janua 2023 to 31 March 2024 14. MOVEMENT IN FUNDS - continued The Trustees have designated £60.000 to this Fund. Al 31 March 2024 this has been reduced to £26.339 as a consequence of cumulative depreciation being charged in respect of the acquired assets 85 noted above. Of the remaining net balance on this Fund. £10.562 is represented by fixed assets included in Note 9 to these Accounts. (iii) Herltage Lottery Fund - balance at 31 March 2024: £15.000 This Fund has been established by the Truslees to allow the Trust to submit future bids as future opportunities arise, 8ither Independ8ntty or in parbwship wrth other organisations.. (Iv} Vlsitor Facilities Fund - balane• at 31 March 2024: £50.1)00 The Trustees have designated £50.000 to repla the chemical toilets with a toilet block to provide permanent visitor facilities. Restrlctod Funds Funds established by grants from Felixstowe Town Council as folk)ws: - Project AV. in 2020 for additional Audio Visual capability. Project Drive. in 2020 to cover improved visrtor experiencè for disabled and visitors with restricled mobility. Project Signage in 2021 to renew interpretsb'on for visitors. Funds establlshed by a grant from East Suffolk Cwncll: Plan for the future. In 2021 to provlde a tour guld8 app for visitors. - Deputy fund in 2022 to help finarw£ the salary of the new Deputy Manager. Fund established by a grant from The Food Kitchen: - Kick Start fund in 2022 to fund emplosfjnent under th8 Kick Start Programme. Fund established by a grant from Felixstowe Lions Club: Defibrillator fund in 2022 to acqL¢ire a defibrillator 15. RELATED PARTY DISCLOSURES There were no related party transacti$ for the period ended 31 Marth 2024. Page 18
Land uard Fort Trust Detailed statement of financial activities for the Period 1 Janua 2023 to 31 March 2024 PericKI 1.1.23 to 31.12.22 Year Ended 31.3.24 INCOME AND ENDOWMENTS Donations and legacies Donations Membership fees Admissions Grants received 1,357 1,149 79,498 16,000 3.292 140 72,700 22,003 98,004 98,135 Other tradlng actlvltles Events Shop and Tea Room Income Ticket office sales Groups & tours Trails 29.622 38,084 498 4,891 7,258 17,129 37,277 655 3,284 6,570 80,353 64,915 Investment Incom• Deposit account interèst 3,481 780 Charftable actlvltles EngSish Heritage management fee 7,484 Other Income Sundry 516 145 Total Incomlng resources 182,354 171,459 EXPENDITURE Other tradlng activitles Purchases Events stsging costs 24,975 13,903 24,002 7.792 38,878 31,794 Charitable actlvities Fort opening Repairs and renewals Fort Forward project Seaward Defence project 24,141 3,153 2,952 1,668 14,631 11,712 3,528 31,914 29,871 Support costs This page does not form part of the statutory financial statements Page 19
Land uard Fort Trust Detailed statement of financial activities for the Period 1 Janua 2023 to 31 March 2024 Period 1.1.23 Year Ended 31.3.24 31.12.22 Support costs Management Wages Social security Pensions Insuran Postage and stationery Advertising Sundries Resource Costs Accountancy Professional fees Uniform Depreciation of tangible and heritage assets 82.488 755 1.595 3.086 371 1,575 42 7,089 1,731 57.694 1.007 3,279 467 2,712 1.871 2,000 782 693 6.261 3,817 105,686 77,969 Flnance Bank charges 547 Other Independent examination Accounting dbfferences 500 426 500 926 500 Totsl resources expended 178,088 140,681 Net income 4,266 30.778 This page does not form part of the statutory financial statements Page 20