Company i-egi5tration number: 03495224 Chai-iry regi5traEion number: 1068270 The 78 Derngate Northampton Trust (A company limited by guarancee) Annu21 Repor[ and Financial Statements for the Year Ended 31 December 2024 l O. Charcered Accountants 10 Cheyne Walk Northampton Northampton5hire NNI 5PT
The 78 Derngate Northampton Trust Contents Reference and Administrative Deoils Trustees, Report 2to5 Statemenc of Tru5ree5 Responsibilities Independent Examiner s Report Statement of Financial Activities 8t09 Balance Sheet 10 Notes co the Financial Statement5 11 to22
The 78 Derngate Northampton Trust Reference and Administrative Details Trustees R Kendall A Kotnis L Marriott M A Young S Harris A Eastwood J Glascott L Pacterson Secretary Charity Registration Number 1068270 Company Registration Number 03495224 The charity is incorpor2ted in England and Wales. 82 Derngare Northampton NNI IUH Principal Office Independent Examiner Dragonfly - Accouniing & Financial Managemeni Ltd 34 Kingjames Close Fordham Cambridgeshire CB7 5ZH Accountants l O. Chartered Accountants 10 Cheyne W21k Northampton NNI 5PT Solicitors: HCR Lancascer House Nunn Mills Road Northampton NNI 5GE P2ge I
The 78 Derngate Northampton Trust Trustees Report The rrustees. who are directors for the purposes of company law. present che annual report togeiher with the fin2nci31 statements and audiiors report of Ihe charitable company for the year ended 31 December 2024. Objectives and activities Public benefit The trustee5 confirm Ihat they have complied with the requirements of section 17 of the Charitie5 Aci 201 I co have due regard to the public benefii guidance published by Ihe Ch2rity Commission for Eng13nd and W31es. Objectives and aims The preservation of 78 Derngate and the promoiion of the works of C.R. Mackintosh and W.J Bassett- Lowke. The exhibition of works by CRM or other arusts as may be determined by the Irusiees. Significant activities During the year the performance of the Choriry has been measured a5 follows.. Completion of the Atrium extension and garden.. Developing a forward plan for che short term: Moniioring the extension and garden use: Vi51tor numbers: Coniinued progress on becoming an accredited museum. Volunteers The Trust is supported by a very active organisation called the 'Friends of 78 Derngate,. Thi5 has Several hundred members and has a lively calendar of evenis. The house is also Supported by approximaiely 80 volunieers who aci as guides. receptionists and carry out general maintenance 2Ctivicies. Page 2
The 78 Derngate Northampton Trust Trustee5 Report Structure) governance and management Governing document The chariry 15 controlled by its governing documenL a deed of trusi and constituS a limited company. limited by guarantee, as defined by che Companies Act 2006. In line with our ambition to become an accrediced museum. we continue to updaie our policies and procedures. Organisational structure The Trust is a company limited by guarantee and 15 controlled by a board of up to 7 trustee5 who set the aims and objectives of rhe company and lis strategic direcrion. The day to day management of the grganisation is the respon5ibiliry of Ihe House Manager and Company Secretary. They have a small team of part ume staff and 3 i-easonable number of volunieers. Wider network The trusi works with a variety of partners within Ihe art and heritage world. The trust work with local authorities to provide certain mutually agreed t2rgets and Wesi Norihamptonshire Council holds the he2d lease on cwo of the three propei-iies under Irust control. Related Partie5 No business wa5 transacted with any frustee or their relatives during the year in quesrion. Risk monagement The trustees have a dvry to identify and review the risks to which rhe charity is exposed and to ensure appropriate controls are in place to provide i-easonable assurance against fraud and error. The risks were reviewed in the year as part of the business plan and accreditation process. Page 3
The 78 Derngate Northampton Trust Trustees, Report ACHIEVEMENT AND PERFORMANCE Charitable activities The main challenge and achievemeni in 2024 was to make the applicaiion for Museum Accreditation by the end of rhe year and be given thai accolade. This wneans we are officially recognised 35 a Museum by the Arts Council. The challenge for the furure will be to maint3in the standard5 and ensure all Ihe correct records are updaied annu211y. Needless to say Ihis achievement could not have been done without a lot ol effort and ieamwork by our sm311 team of staff. volunteers and Trustees. 2024 was the first full year with the new extension and 5raried off with 3 very successful sellirig retrospective exhibition John Luce Lockert's work as well as an exhibicion of work by members of the Workbridge Vocational College both of which generated sub5raniial local Interest in the media. Work also began on updating the guidebook which will need a reprint. This 15 Still on going and the Trust is seeking sponsorship co fund this. Visitor numbers have remained stubbornly between 6500 and 7000 over the year. This trend of not regaining the levels that were pre5enr pre covid has persisted and is reflecied in many visitor attractions outside the major cities. During rhe ye2r we ilso f2ced some ch211enges on the maintenance of Ihe building5, some due to age (lifr breakdown), others to nature (basemeni flooding) and some deliberate (atrempied break inl. the latter causing enough damage to warrant an insurance claim. This wa5 in addition to the regular maintenance required of the buildings. This will be a major challenge going forward. The venue was used several times for Corpora event5. and we hope Ihai this trend continues and becomes a more stablished revenue stre2m. Barclaycard pi-ovided a ieam of volunieers for one day to do a variery of rasks Ihroughout the building. The Tru51 continues to support and pariicipaie in Town events. h05ting Architectural week with a series of talks and exhibitions. Ihe opening of the refurbished markei square and p12nning for the 350th anniversary of the great fire of Northarnpton. The Dining Room rest2urant had new owners ai the beginning of the year who have been a great succéss not only in the qualiry of Ehe food and drink. but also the srandard of care and accention when dling with visitors. Summer Social evening was organised by the Friends. not dampened by the torrential rainl The Northampton Open Voice Choir did 2 grand job of keeping spii-its up! £535 wa5 1-ai5ed and this has kindly been matched by Barc12yc2rd. As always the year would not have been a success without the help and support of our Friends gi-oup and the ream of volunteers who so willingly gve of their time and money. Internal and external factors The pérformance of the trust in terms of visitor numbers and rhe turrbover of the business in terms of revenue very much depend on external facior5. Page 4
Th¢ 78 D•rn8at• Northampton Trust FINANCIAL REVIEW Reserves policy Thls was revieEd in the . The Trust aims to have a minimum of £50.C*)O of free reserves as a contingency. Prlncip•l funding sources In a normal year most day to day expendlwre Is fijnded from Faylng visitors and shop tradlng. From tlme to time vthen prolects or enhancemenrs are klentified we appty ft>r grants from approprlate funding bodies. Cost savings are continualty being investipted. FITfuRE DEVELOPMEK Work is continuin8 for the accredited museums whlch we hope to complete In arly 2025. Thls report has been prepared in accordance wlth the %nall comFAnies rqlme urKler the Companles Art 2006. The annual was approved by the txustees of the dArlty on .... .... .- and s18r on its behalf M A Young Trustee
Th¢ 78 D•rngats Northampton Trust Statement of Trust•¢s' Responsibilities The trustees (who are also the dlrectors of The 78 Dernpte Northampton Trust for the purposes of company law) are responsible for Prepari the trustees, ryrt and the financial statements in accordan Yth applicable law and United Kiwlom Accounting Stsndards (United Kingdom Genernlly Accepted Accounting Practice), induding FRS 102 The FinancAI Reporting Stsndard applicable in the UK and Republic of Irdand". The report and accounts hve been prerAred in accdance Vth the FYovlsions In the ComFAnies Act 2(h)6 relan£ to small comwbi Company law requires the trustees to pretwe finanaal statements for each flnanclal >w. Under company law the trustees must not approve the financial sutements unless they are satisfied that thcy 8ive a true and fair vlew of the ststr of affair5 of the dArltable company and of the Incomlng resources and application of resour including its income and expenditur@ of the charitable company for that riod. In preparing these finand stttements the trustees are required to: ' selert suitsble accounting policies and ap them consis*. . observe the rnethS and prinaples in the chareS SORP. rake judgements and estimates that are and pruden¢ sttte whether appficable accounting standard& comwising FRS 102 have been followed. Subject to any mataial deFArtures disclosed and explained in the financial strttynents. and preFwe the financial soternents on the going concern t4sis unless it is inapwoprnte to presume that the charitable comF4ny will continue in busines& The trustees are responsible for keeping proper accounting records that can disck>se rsOnable accuracy at any time the financial position of the charirable company arKI enable them to ensure that the flnanclal statements compty with the Companles Art 2006. They are also responsible for saferdIng the assets of the charitable company and hence for taking rOnab steps for the evention and detectlon d fraud and other irre8uknritie& The trustees are responsible for the maint&wKe and inte8rity (rf the corporate and finarla1 infonYp4tion Included on the charith ComnIS websit& L4i51ation governing the preparation and dissemination of financial differ from le&'slation in other jurisdiction& oung Trustee
Ci LWJ The 78 Derngate Northampton Trust Independent Examiner's Report to the trustees of The 78 Derngate Northampton Trust ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities and basis of report As the charity's rrustees of the Company (and also irs dirertors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Acc 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 Att and are eligible for independent examination, I report in respect of my_ examination of your chariry's accounrs as carried out under section 145 of the Chariues Act 2011 ('the 201 l ACE). In carrying out my examination I have followed the Direttions &riven by the Charity Commission under 5ettion 145{5)(b) of the 201 I ACL Independent examinerfs statement I have completed my examination. I confirni that no matcer5 have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respert of The 78 DernDte Northampton Trusc as required by section 386 of the 2006 ACL" or 2. the accounts do not accord with those record5; or 3. the accounrs do not comply with rhe accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts &ve 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 accounrs in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreTrand (FRS 102)]. I have no concerns and have come acr055 no other matters in connettion with the examination to which attention should be drawn in thts report in order to enable a proper understanding of the accounrs ro be reached. Mr P O'Brien (ICPA) Dragonfly - Accounting & Financial Management Ltd 34 Kingjames Close Fordham Cambridgeshire CB7 5ZH DI....C+6/.0S/z Page 7
The 78 Derngate Northampton Trust Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recogni5ed Gains and Losses) Unrestricted Restricted funds funds Total 2024 Note Income and Endowment5 from: Donacions and legacies Invesrment income Other income 105,004 2.867 18,661 123,665 2.867 Total income 129 873 148 534 Expenditure on: Raising funds Charitable activitses (111,797) Total expenditure 182 107 182 107 Net lexpenditure}lincome Transfers becween funds {52,234) 18,661 (33,573) Net movement in funds (5.153) (28.420) (33.573) Reconciliation of funds Toral funds broughc forward Totsl funds carried fowdrd 3 446 729 3 495 729 18 3441576 3462 156 The noies on pages I I to 22 form an integral part of Ihese financial st21ements. Page 8
The 78 Derngate Northampton Trust Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and L055es) Unrestricted Restricted fund5 fund5 Total 2023 Note Income and Endowments from". Donations and legacies Investment income 95.587 2.608 68.870 164.457 2,608 Oiher income Total income 110997 179867 Expenditure on: Raising funds Charitable activities (104.678 (104,678) Tot31 expenditure 173397 173397 Net lexpenditure)lincome Ti'ansfers between funds (62,400> 394 870 68,870 394 870 6.470 Net movement in funds 332,470 (326.0001 6.470 Reconciliation of fund5 Total funds brought forward 3 114259 375 000 3 489 259 Total funds carried forw2rd 18 3 446 729 3 495 729 All of the charity's activities derive from continuing operations during the above cwo periods. The funds breakdown for 2023 15 shown in note 18. The notes on pages 1 I to 22 form 2n integral part of these financial statements. Page 9
Th• 78 D•rn8ats Northampton Trurt (Roglstratlon number. 03495224) Balance Sheet u at 31 D•c•mb•r 2024 2024 2023 Flxed assets 13 3,373.998 3,389.412 Stocks Debto sh at IAnk and in hand 14 15 IZ795 212 13.778 117,803 136,182 13 111028 410 Totsl asgets less current Ilabilitsas 3,485.026 3,521822 CrndIt0 Amounts fallln8 due after mor• than on• 156 3495n9 Funds of the charlty. Restricted funds 20,5• 49,000 Unrestricted funds Total funds These financial statements have be wered in accdance vrith the 4>ecial provisions rejating to companles sublett to the small companie5 regime thIn Part15 of the Companles Act 216. Thefi Al statements on Fqges 8 to 22 were apwed by the trus* and authorised for Issue M A Young Trustee The notes on p38es I I to 22 forni an Integral prt of these financlal ststanents. Page 10
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 I Charity status The charity 15 limited by guarantee. incorpor21ed in England and W21es, and consequently does not have share capiral. Each of the tru5Eee5 15 li3ble 10 coniribuce an amount not exceeding £ I towards the assets of the charicy in the event of liquidacion. The addre55 Of lis regi5cered office is= 82 Derng2te Northampton NNI IUH 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in Ihe prepar31ion of Ihese financial 5ratements al-e sec oui below. These policies have been consistently applied to all the year-s presented. unle55 Otherwise stated. Statement of compliance The financi21 statements have been prepared in accordance with Accounting and Reporting by Charities: Statemenr of Recommended Prnctice (applicable to charities prepai-ing Iheir 3ccoun15 in accordance with Ihe Financial Reporting Standard 2pplic3ble in the UK and Republic of Ireland {FRS 102)) (issued in October 20191 (Charities SORP (FRS 102)). Ihe Financial Reporting 5iandard applicable in the UK and Republic of Ireland (FRS 102) and che Companies Act 2006. Basis of preparation The 78 Derngate Northampton Trust mee[5 Ihe definiiion of a public benefii entiry under FRS 102. Asset5 and liabilities are initially recogni5ed at historical cost or transaction value unless otherwise stated in the relevant accouniing policy notes. Going concern The trustees consider- thai there are no material uncertainties aboLtt the ch21-Ity's ability to continue 2S 3 going concern nor 2ny significanr 31-WdS of uncertainty that affect the c2rrying value of assets held by the charity. Income and endowments All income is recognised once rhe charity has entitlement to the income. it is probable that the income will be received and the amount of the income receivable c2n be measured reli2bly. Page 11
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Donations and legacies Donations are recognised when the charity has been notified in wriung of both the amount and seiclement dale. In the eveni Ihat a donation is subjeci 10 conditions that require a level of performance by the chariry before the charity is entitled to the funds, Ihe income is deferred and not recognised until either those conditions are fully met. 01- the fulfilmeni of Ihose conditions is wholly within the concrol of Ihe charity and it is prob3ble Ihai these conditions will be fulfilled in the reporting period. Gront5 receivoble Grants are recognised when the charity h2s an entidement to the funds and any conditions linked to the grants have been met. Where performance conditions are airached to the grant and are yet to be met, che income is recogni5ed as a liabiliry and included on Ihe balance sheet as deferred income to be released. Gift aid Incoming resources from tax reclaims are included in Ihe Statement of Financial Activitie5 at the same lime as che gift to which they i-elate. Investment income Dividends are recognised once the dividend has been declared and notification has been i-eceived of the dividend due. Expenditure All expenditure is recognised once Ihere is a legal or conscruciive obligation to that expenditure, it is probable 5etdement 15 I-equired and the amount can be measured reliably. All costs are allocated to the 2pplicable expenditure heading Ihai aggreg2te similar costs to that category. Where cost5 Cannot be directly attributed to Particular headings they have been 211ocated on a basis consistent with the use of resources, with ceniral staff c051s allocated on the basis of time spent, and depreci2tion charges alloc2ted on Ihe porty.on of Ihe asset'5 use. Other support costs are allocated based on the spread of staff costs. Raising funds These are cosis incurred in aciraccing voluntary income, the management of invesiments and those incurred in trading acriviues that raise funds. Governance costs These include the costs 2ttribut2ble 10 che charity s compliance with constitutional and statutory requirement5, including audi( straiegic m2n2gement and truSe5 meetings and reimbursed expenses. Page 12
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Taxation The charity 15 considered 10 p3SS the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charirable comp2ny for UK corporation tax purposes. Accordingly, the charity is potentially exerT7PI from taxation in i-espect of income or capiral gains received within c2tegories covered by Chapier 3 P2r( I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exieni Ihai such income or gains are applied exclusively 10 chai-lble purposes. Tangible fixed assets Individu21 fixed assets costing 1250.00 or more are initially i-ecoi-ded ai c05t. Depreciation and amortisation Depreciation 15 provided on tangible fixed 3s5etS 50 as 10 write off the cost or valuation, less any e51imated residual walue. over their expected useful economic life a5 follows.. Asset class Land and buildings Plant 2nd machinery Depreciation method and rate in accordance with the property 25Y• on cost Trade debtors Trade debtors are 2mounts due from customers foi- merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initi211y 2t the tr2ns3Ction price. They are subsequendy measured at amortised cost using the effective interest meihod. less provision for impairment. A provision for the impairment of trade debtors is esiablished when Ihere is objective evidence that the charity will not be able Eo collect 311 amounts due according to che original cerms of the receivables. Cash and cash equivalents Cash and cash equivalenrs comprise c2sh on hand and call deposits, and other short-term highly liquid investment5 that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in v21ue. Fund structure Uni-esiricied income funds are general funds thai are availaiAe foi- use at the trustees discretion in furtherance of the objectives of the chai-ity. Designated funds are unrestricted funds sei aside for specific purposes at the discretion of the trusiees. Restricted income funds are those donaied for use in a particular area or for specific purposes, the use of which 13 re5¢rrc¢ed to that area or purpose. Page 13
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 Decembèr 2024 Financial instrument5 Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contraciual provisions of the in51rumenE. Financial liabiliiie5 and equity inscrumen15 al-e cla55ified according to the subsrance of Ihe contractual arrangements eniered into. An equity instrument 15 any contract that evidence5 a residual incerest in the assets of rhe charity after deduccing all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including tr2nsaction cosr5). excepr for chose financial assers classified as 2t fair value through profil or loss. which are inicially measured at fair value (which is norm211y che transaction price excluding transaction costs), unless the arrangement constitutes a financirsg transaction. If an arrdngemeni constitutes a financing transaction. the financial asset or financial li2biliry is measured at the preseni value of the future payments disCound at a mai-ket raie of inieresi lor 3 similai- debt insu-umenL Financial assets and liabilities are only offset in the sratement of financial position when, and only when there exists a legally enforceable right to sec off the recogni5ed amounts and the charity intends either to setde on a net basis, or to realise the assei and seitle the liability simultaneously. Financial assets are derecognised when 2nd only when a) the contraccual rights to the cash flows from the financial asset expire or are settled. b) the chariry transfer5 ro anoiher party substantially 211 of the risks and rewards of ownership of the financi312sseL or c) the chariry. de5Plte having recained some, buc not all. signific2nt risks and reward5 of ownership. has Iransferred conirol of che asset to another paiy. Financial liabilities are derecognised only whevi the obligation specified in the contract 15 discharged, cancelled or expires. Fair value measurement The best evidence of fair value is a quoted price for an ideniical asset in an active market. When quoced prices are unavailable. rhe price of a recent transaction for an identical assei provide5 evidence of fair value as long as there has not been 2 significant change in economic circumstances or a significant lapse of rime since the Iransaciion took place. If the marker 15 noi aciive and i-ecent transactions of an identic21 asset on their own are not 2 good estsmaie of fair value. the fair value is estimated by using a valuation cechnique. Page 14
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Donations and legacies". Donations from individuals Grants. including capital grants: Grants from oiher charities Other income from donations and legacie5 Total for 2024 13.329 13.329 5.332 5,332 105004 105004 105004 123665 Total for 2023 164,457 4 Investment income Unre5trirted fund5 General Total funds Interest receiv3ble and similar income". Interest receivable on bank deposits Total for 2024 Total for 2023 Page 15
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 S Other income Unrestricted funds General Total funds Fees and supplies Rental income 3,266 3.266 Total for 2024 Total for 2023 6 Expenditure on charitable activities Unrestrirted funds Designated General Total funds Note Governance costs Total for 2023 In addition to Ihe expenditure analysed above. Ihere are also governance coscs of £70.310 (2023 £68,719) which relaie directly to charitable 2ciiviiies. See note 7 for further details. P2ge 16
The 78 Derngate Northampton Trust Notes to the FinancAal Statements for the Year Ended 31 December 2024 7 Analysis of governance and support costs Governance costs Unrestricted funds Designated General Total funds Audit fees Audit of the financial statements 1,295 3.697 2,191 4,015 1,295 3,697 2.191 4,015 Other fees paid co auditors Legal fees Mai-keting and publicity Depreciation. amortisation and other similar cosis 46,741 4.460 51.201 Other governance costs Total for 2024 Total for 2023 46.397 8 Net incomingloutgoing resources Net {outgoing)lincoming resources for the year include-. 2024 2023 Audit fees 1,295 1,350 Depreciation of fixed assers 9 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any I"emuneraiion from the charity during the year. No Irustees have received any reimbursed expenses or any other benefits from the charicy during the year. Page 17
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 l O Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff c05t5 during the year were: Wages and salaries No employee received emoluments of more rhan £60.000 duririg the year. I l Auditors. remuneration 2024 2023 Audit of the financial 5tatemencs Other fees to auditors All other non-audit Services 12 Taxation The chariry is a registered chariry and is therefore exempt from taxation. Page 18
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 13 Tangible fixed a55etS Furniture and equipment Land and buildings Total Cost At l January 2024 Additions 4.183.258 16,109 4,199.367 Ar 31 December 2024 421731 17843 4235 154 Depreciation At l January 2024 Charge for the ye2r 805.928 46.740 4,027 809.955 At 31 December 2024 852 668 861 156 Net book value At 31 December 2024 3,364.643 9 355 3 373 998 At 31 December 2023 3 377 330 12082 3389412 Included in Land and 8uilding5 is Ihe hisiorical Freehold cost of 82 Derngaie and the historical cost of the Leasehold in 78-80 Derngate which had an iniial lease period of l 00 years and which now has 73 years retnaining. 14 Stock 2024 2023 Finished goods 15 Debtors 2024 Prepayments 212 Page 19
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 16 Creditor5: amounts falling due within one year 2024 2023 VAT repayable Other crediiors Accruals 5,501 20 228 90 17 Creditors: amount5 falling due after one year 2024 2023 Bank loans Page 20
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 18 Funds Balance at Balance at l January Incoming Resources 2024 resources expended Transfers December 2024 Unrestricted funds General 1.950,048 127,875 (133.368) 1,944.555 Designated Total unrestricted funds 1496 681 1497021 3.446.729 117.875 (180.109) 47,081 3.441.576 Restricted funds Total funds 3 495 729 146536 180 109 3462 156 Balance at Balance at l January Incoming Resources 2023 resources expended Transfers December 2023 Unrestricted funds General 1.966.051 108.990 (124.993) 1,950,048 Designated 1 148208 394 870 1496681 Total unrestricted funds 3.114.259 108.990 (171.390) 394,870 3,446,729 Restricted fund5 375 000 394 870 Total funds 3 489.259 177860 171390 3 495 729 The specific purpose5 for which the funds are to be applied are as follows: The trustees also agreed to ensure the carried forward i-esci-icied funds were £20.580 at the year end to ring fence rhe remaining costs attributable ro rhe building lund account for the Atrium and maintain free reserve5 at £50.000. P2ge 21
The 78 Derngate Northampton Trust Notes to the Financial Statements for the Year Ended 31 December 2024 19 Analysis of net assets between funds Total funds at31 December 2024 Unrestricted funds General Designated Restricted funds Tangible fixed assets Current assets Current liabilities Creditors over l year Total net assets 9,355 117,803 (6.775) 3.330,590 34.053 3,373,998 117.803 (6,775) 3 330 590 3462 156 Total funds at31 December 2023 Unrestricted funds General Designated Restricted funds Tangible fixed asset5 Current assets Currenc liabilities Ci-editor5 over l year Total net assets 12.082 136.182 (2,772} 3,308.632 68.698 3,389.412 136,182 (2.772) 118399 3 308 632 3 495 729 Page 22
The 78 Derngate Northampton Trust Statement of Financial Activities by fund for the Year Ended 31 December 2024 Restricted Funds Total Total Restricted Restricted Funds Funds 2024 2023 Income and Endowments from: Donations and legacies Total income Expenditure on: Net income Transfers between funds 18,661 68,870 394 870 Net movement in funds {28.420) (326.000) Reconciliation of funds Total funds brought forward 375 000 Total funds carried fowdrd This page does not fomi parc of the statutory financial statrments. Page 23
The 78 Derngate Northampton Trust Detailed Statement of Financial Activities for the Year Ended 31 December 2024 Total 2024 Total 2023 Income and Endowments from: Donations and legacies {analysed below) Investment income {analysed below) Other income (analysed below) Total income 123.665 2,867 164.457 2,608 148534 179867 Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Total expenditure (111.794 (104,678) 173397 Net (expenditure)lincome Net movement in funds (33.573) 6,470 Reconciliation of funds Total funds brought forvrdrd 3 495 729 3 489 259 Total funds carried fowdrd 3462 156 3 495 729 This page does not fomi parc of the statutory financial statrments. Page 24
The 78 Derngate Northampton Trust Detailed Statement of Financial Activities for the Year Ended 31 December 2024 Total 2024 Total 2023 Donations and legacies Donations Grants Shop income Entrance fees 13.329 5.332 47.914 17.870 51,000 42.488 123665 Investment income Deposit account interest Other income Rents received 18.736 12.802 Other income Raising funds Opening stock Purchases (13,778) (16.541) 12,796 (57.750) (2,622) (2.467) (12,400) (4.982) {12,966) {25.171) 13,777 {52.237) (1 ,832) (2.147) (9,342) (4.935) Closing stock Wages and salaries Staff pensions (Defined contribution) Rates and water LighL heat and power Insurance Maintenance and cleaning 111797 Charitable activities Sraff training Telephone and fax Computer software and maintenance costs Printing, postage 2nd stationery Sundry expenses Tr2vel 2nd subsistence Advertising (805) (2,386) (86) (566) (1.214) (225) (4.015) (2,076) (1.164) (525) (3.117) (96) (2.676) This page does not fomi parc of the statutory financial statrments. Page 25
The 78 Derngate Northampton Trust Detailed Statement of Financial Activities for the Year Ended 31 December 2024 Total 2024 Total 2023 Accountancy fees Auditors, remuneration Legal and professional fees Bank charges Depreciation of long leasehold property Depreciauon of fixtures and fitcings Loan interest (3,697) (1.295) (2,191) (1.998) (46.741) (4.460) 631 (3,707) (1.350) (836) (2.007) {46,397) (4,027) 741 This page does not fomi parc of the statutory financial statrments. Page 26