Reglstered number: 03609532 Charity nurnber: 1071680 BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company limited by guarantee UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A ¢ompany limited by guarantee) CONTENTS Page Reference and admlnl$lratlve detalls of tP* Company, Its Trustees and advlsers Truslèès. rèport Independenl examlnerfs report statement of financial aclivities Balance sheet 9-10 Nolos to the flnanclal statemènts
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company limited by guarantsel REFERENCE AND ADMINISTRATIVE DAlLs OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Truslees Mr A Briaull Mr R Leighlon Ms G A Morris {resigned 1 September 2023} MrPASugg Company registered nurnber 03609532 Charity regislgred number 1071680 Registèred office 201 Kings Road Arches Brighton East Sussex BN11NB Independent examlners Gib80n Appleby 1-3 Ship Street Shoreham-by-sea BN43 5DH Bankgrs CAF Bank Limited Kings Hill Wesl Malling ME19 4JQ
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Irustees, who are also directors of the tharily for the purposes of the Companies Acl 2006, present their report, incorporating the directors report, with the financial stalements of the charity for the year eIed 31 December 2023. The financial slalements have been prepared in accordan wilh the accounting policies set out in note 1 of the financial statements and are in compliance with the charity's goveming documwt, the Companies Act 2006. and "Accounting and ReportirYJ by Charit18S= Slalemenl of Recommended Practice" applicable lo charities preparing their accounts in acCLdanCe wilh the Financial Reporting Sl8n(Jard applicable in the UK and Republic of IrelarKI {FRS 1021" leffertive 1 January 20191 Objectives and activities a. Objeclives and activities The Brighton Seafront Heritage Trust primarily aim5 to foster the arts, culture. and heritage of the Fishing Quarter1194 to 208 Kings Road Arches, paved forecourt) and its nearby vicinity in Brighlon. To achieve these obj'ectives as a voluntary association with no paid staff, it carries out the followiru.. Facilitates and manages accommodation for Brighton Fishing Museum {Arches 200 and 2011 that MaInS open all-year-round with free a¢$$. Maintains two workshops. A woodwor1(ing workshop (Arch 2051 for boat repair and the creation Df dispL3y cases and stands commemorating the ltUre and heritage of the Fishing Industry. and a metal workshop (Arch 2061 for the conservation, repair, and rebuilding of vintage marine engines. Provides and maintains the Fishin9 Quarter Gallery (Arch 203} for local emerging artists to exhibit and sell their work lo a diverse audience at a nominal perceniage of the sellng price. Supplies a trdditionally-seated venue Ithe paved forecourt) for the annual Mackerel Fayre and other outdoor activities ranging from fvAorris Men, Sea Shanty groups lo the Salvation kny. Offers fully maintained restroom and washing facilities. nclusive Df a shtbwer lor the use of the Fishing Quarter's occupants and volunteers. R8nts out commèrcial accommodation for the commercial fishenM8n (Arch 2021. retail space for selling fish-relat8d product5 i.è.. W8t fish, smoked fish, shellfish and a handyman's store to five independent retailers {Arches 194, 197, 199, 2071, and a Coffee Shop IArches 195 and 1961. The wlal income balance (a portion of whh is direcled lo landlord Brigmon and Hove City Council) is used lo accotnplish our objectwes, and annually maintain the Structure of the Fishing Quarler. The trustees have referred lo the guidance issued by the Charity Commission on public benefit when reviewing the activities undertaken by the charity_
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) Objèctivès and aclivitiès (continu&d) b. Achievements and perfomian¢e The Trusts main achievement in the year was the On)Ing supply of a free (yen museum and available gallery and loft to let as part of the city's cultural offering. Income has increased from the increase in commer(ial rents from March 2023 a1 additional numbers of weeks booked for Ihe gallery. Significant periods of lime in the 2023 fiscal year were deployed to the renegotiation of the leases of the arches to the Trusts commercial tenants and from the local Council. The associated legal and professional fees for this totalled £19,316 which effectively exhausted the Tnjsts reserves which were built up from CDvid grants reIved in pnor s'ears. All outstanding matters regarding the leases are now resolved. We also spent £7,987 on the installation of heavy slorm dOS to the museum whith fvrther depleted reserves. From 1 January 2024. all renis due from tenants a now collected monlhly in advance directly to the Twst. therefore saving on Agent fees. The Trusl continued lo use a conlraclor thrghOul the year lo manage tookings and social media for the Fishing Quarter, Museum and Gallery. Also a professional cleaning firni continued to be used in the year. Thè Trust continues to r8ly on volunteers tssked with Unl(king, locking, minding and some maintenanca of the mus8um on a daily basis. This is undertaken by Trustees, the Treasurer arKJ the Secietary. Their conlribulion is vitsl lo the running of the Trusl.
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) Objèctivès and aclivitiès (continu&d) ¢. Financial rÈv6iw The Statement of Fin3ncial Activities shows a net decrease in funds for the year of £18.81912022. £21,994)- The net reserves stsnd at £209,540 {2022'. £228.3591. Al the year end the charily had tree reserves of £12.058 {20Z2.' £36,730). Income has increased in the year largely due lo the renegoliated renlal inix)me of the arches which Should increase further next year with a full year rent al the new rates. As stated in the Achievements and PerformarKe section reserve5 have been depleted due to legal and professional fees and ins1211ation of stomi doors. Propety running costs have 21so increased. largely due lo the increases in light and heal costs. As had been planned. the 2024 resuls show, a markedly irnproved situati(M. Cash flow from rents all being paid direct lo the Trust on lime, all except one now monlhly nol quartety in advance al increased levels with ageni fees no longer being paid out. Al thè samè lime, all rK)n-Èssential expènditurÈ has b88n deferred or w)stwn8d in order lo ènsure that re5èrvÈs arè again built up The combination of these factors has seen the bank balances improve from £1,300 at the beginning of 2024 10 £27,000 al the end of September 2024. The Trustees continue lo look into increasing funding, as well as attempting to reduce the cosis of the charily. It is th8 policy of the Trustegs to ensure that suffiThent resgrves arg maintained to enable th8 Trusl lo me9t its liabililias for the foreseeable fvlure. As such. it 15 the policy of the tnjst that unrestricted funds. lch have not been designated for a specific use, should be rnaintained al a level equivalent lo between three and six month's eXpQndUre. The trustees consider that reserves at this level will ensure that. in the event of a significant drop in funding, they will be able to continue the trust's current activities while considerath)n is given to ways in which additional funds may be raised The trust continues lo seek ways of enhanang and developing the Fishing Museum and Fishing Quarter. They aim to rnaintain and develop further the successful formal education prcoram for schools in the educ3lion room in Arch 200 and develop furth9r relationships Wlth relevant local organisations. Work to OV9rhaul our ext9mally located boats the paved for8COiIrt will be continued. The Fishing Quarter will be maintained and fulty repaint1 and decorated. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) Objèctivès and aclivitiès (continu&d) d. Structure. governance and management The charity 15 a company limited by guarantee. None of the trustees has any beneficial irterest in the company_ All of the trustees are members of the company and guarantee io conlribule £1 in the event ol a winding up. The company registered as a charity Dn 12 December 2006. The trustees, who are also 1he directors for the purpose of company law. and who served during the year and up to the date of signature of the finanaal sialements were.. Mr A Briaull Mr R Lei9hton Mrs G A Morris Iresigned 1 September 20231 Mr PA Sugg Trustees are recruited from rneMbe of the local community. and trained as requwed. The Chair. with any two tnjstees. has the delegated power on the day to day decisions on behalf of the Trust and rep)rt lo the other trustees_ At any lime. major andlor fonnal decisions are dgalt with by callng a Special Meeting of the Trusl_ See the Achievements and Perfonn8nce section on the use of volunteers. Statement of Trustees. responsibilities The Trustees Iwho are also the directors of the Company for the purposes of conipany lawl are responsible for preparing the Trustegs, report and the financial slalements in accordance with applicable law and Uniled Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Prac111. Company law requires the Trustees to prepare finanGial statements for each financial year. Under company law. the Trustees rnust not approve the financial slalements unless they are satisfied that they give a true and fair view of thè stale of affair5 of the Company and of its incoming resources and application of rasourc8s. including its incoma and expenditura, for that p8riod. In preparing thes financial statements, the Trustees are required to.. selecl suitable accounting poliaes and then apFdy them consistenUy- observe the methcmys and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting St8w)dards (FRS 102} have been followed, subje¢l to any rnaterial departures disclosed and explained in the financial statements". prepare the financial statements on the going concem basis unless it is in8ppropTiate to presume Ihat the Cornpany will continue in business. The Trustee5 are responsible for keeping adequate accounting records that are sufficient to show and explain the Company'5 Ir2nsactions and disclose with reasonable accuracy at any litne the financial position of the Company and enable thern to ensure that the financlal staiemenis comply wlth Ihe Companles Aci 2rA)6. They are also responslble for safeguarding Ihe assets of the Company and hence for taking reasonable steps for the prevention and detection of traud and other irregularities.
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) Approved by der of Ihe members of the board of Trustees and signed Iheir behalf by: Mr A Brlault Datg.. 26 September 2024
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) INDEPENDEMT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independenl examinevs report lo Ihe Trustees of Brighton Seafront Heritage Trust Limited (Ihe Company.) I report lo the charity Trustees on my examination ol the accwnts of the Company for the year ered 31 December 2023. Responsibililies and basis of report As the Trustees of the Company (and ils directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 Ilhe 2006 Acl'l. Having salisfied myself that the accounts of the Company ¥e nol required to be audited under Part 16 of the 20D6 Act and are eligible for independent examination, I report in respect of my examinalion of the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examinati( I have followed the Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independenl examinerfs statemenl I have completed my examination. I confimi that no matters have come to my attention in connection wth the ex8minalion giving me cduse lo believe. accounting records We not kept in respeci of the Company as required by section 386 of the 2006 Act" or the accoLJnts do not accord with those re(x)rds" or the accounts do not comply with the accounting requirements of seciion 396 of tr 2006 Act Otr than any requirement that the accounts give a Irue and fair, view which nol 8 matter considered as part of an independent ex8mination,' or th8 ac(x)unts have nol bèen pr8pargd in accordance with the m8thods and principles Df the Statement of Recommgndèd Practice for accounting and reporting by charitses lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK arnl Republic of Ireland {FRS 102}1- I have no concems and have come auoss no her matters In ex)nnectlon with Ihe examlnation to whlch 8tteniiDn should be drawn In this report in order to enable a proper understanding of the aru)unls lo be reached. This report is made solely to the Compan$ Twstees. as a body. in ac4Jydance with Part 4 of the Charilies (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Company's Trustees those matters l am required lo state lo them in an Independent examinels report and for no othÉr purpose. To the fullest exlenl pemiitted by law, I do not accept or assume responsibility lo anyone other than the Company and the Companys Trustees as a body. for my wotk or lor this report. Signed.. Dated.. 30 September 2024 Sarah Johnson ACA Gibson Appleby Ch8rtered Accountants
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Total funds 2023 Tot81 funds 2022 Restricted funds 2023 Income from.. Donations and legacies Ch2riltble activities 4054 4.854 4, 038 50.754 50.754 34,598 Investments 42 42 34 Total income Expenditure on: 55.650 55.650 38,670 Charitable activities 74.469 74.469 60,664 Net expenditure (1819) {18,819) (27, 994) Transfers betweèn funds 13 177.000 {1TTPOO) Net movement in funds 13 177.000 {195019) {18,819) (21, 994) Reconciliation of fund5- Total funds brought forward 228.359 228.359 250, 353 Total lunds carrfed forward 13 177,QOO 32YO 209,540 228,359 The Slat8menl of financial aclivilies includes all gains and losses recognised in the year. The notes on pages 1110 18 form part of these financial statements.
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company Ilmlted by guarantee) REGISTERED NUMBER: 03609532 BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Note Flxed assels Tangible assets Heriiage assets 20,482 177,000 14.629 10 177.000 197,482 191,629 Current assets DeL)tors 12.400 1.278 6,250 34.121 Cash at bank and in hand 13,678 40.371 Creditors.. amounts falling due within one year 12 (1,620) (3.641) Net current a55e¢s 12,058 36, 730 Total net assets 209,540 228,359 Charity funds Restricted funds 13 177,000 Unreslricled funds 13 32,540 228,359 Total funds 209,540 228,359
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company Ilmlted by guarantee) REGISTERED NUMBER: 03609532 BALANCE SHEET (CONTINUED) AS AT31 DECEMBER 2023 The Company was entitled lo exemption from audit under séction 477 of the Companies Act 2006. The menibers h8ve not required the company to oblain an audit for the year in qstIon in aw)rdanGe with seGlion 476 of Companie Act 2006. The Trustees aCknOwdge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial staternents_ The financial statements have been prepared in accordan with the pro¥i8ions applicable to enbties subject to Ihe small companies regime. The financial statements were approved and aulhorised for issue by ihe Trustees on 26 September 2024 and signed on their behalf by: Mr A Briault The notes on pages 11 to 18 fom part of these financial ststements. Paqe 10
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General information Brighton SeafrDnl Heritage Trust Limited is a private company limited by guarantee incorp)rated in England and Wales. The registered office is 201 Kings Road Arches. BrMJhlon. BN1 1 NB. The charity is a wblic benefit enbty. Accounting policies 2.1 Basis of preparation of financial Statements The financial statements have been prepared in accordan with the Charities SORP IFRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accoun18 in accordaiice with the Financial Reporting Slandard applicable in Ihe UK and RepuL)li¢ of Irelan(J IFRS 102} leffeclive 1 Jgnuary 2019), the Financial Reporting Standard applicable in the UK and Republic of Iieland {FRS 102) and the Companies Act 2006. Brlghton Seafront Herllage Trust Llmlted meets the deflnitlon of a publlc benefll entlty under FRS 102. Assets and liabilities are inib.ally recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. The accounts arg prepared ir) slerfing and rourKled to the nearest FM)und. 2.2 Going concern Al the lime of approving the financial statements. Ihe iruslees have a reasonable exCtation Ihat Ihe charity has 1equale resources lo conlinue in operational existen for the foreseeable fulure, Thus the trustees continue lo adopl the going concern ba515 of accounting in preparing the fina181 51atements. 2.3 Income Income is recognised when the charty is legally entitled to it after any perfomance conditions have been Met. the amounls can be measured reliabty. and il is probable thal incorrE will be received. Cash donations are regnised on reipl. Other donations are recognised once the charity has been notified of the Ik)nation, unlass parforrnance conditions r8quir8 daf8rral of th8 ami)unl. Other income is recognised in the period in which il is receivable arKJ to the extent the goods have been provided or on )mpletion of the se1. Paqe11
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (continupd) 2.4 Expenditure Expendiknre is recognised an cralS basis when the liability is incurred. Charitable expenditure <x)mprisès those (xjsts Incurred by the charity in pursuit of its charttable objectives_ Both Support arKJ Governance costs are recharged to the main activity and for part of charilable expenditure with a separate analysis teing provided in the notes. Governance costs include those costs associated with rneeting the statutory requirements of the charity and include costs linked to the strategic management of the charity. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company,, this is nrnallY upon notification of the interest paid or payable by the instituti)n with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised al cost. After recognition, under the cost madel. tangible fixed a55ets are rngasurad at cost less accumulAl8d d8preciation and any accumulat8d impairm8nt Ioss8S. Al each reporting date the Cornpany assesses whether thwe is any iidication of impairment. If suth indication exists, the rscoverable amount of the asset is detemiined to be the higher of its fair value less costs to sell and its value in use. An impaim)enl loss is recognised where the carying amount exceeds the recoverable amunt. Depreciation is chargeé so as to allocate the cost of tsngible fixed assets sS their residual value over their estimated useful livo&. . Depreci8tion 15 provided on the followng bases- Leasehold improvements Plant and machinery Office equipment - 20 years straight line - 20 years straight line - 25Yo straight line 2.7 Heritage assets H8ritag8 ass9ts consist of museurn exhibits held by thg trust. and are revalued p@riodically by the tru5tee5. At each reporting date Ihe Company assesses whether ihere is any TridiclOn of impairmert. If such Indlcatlon exists, the recoverable arngunl of the 355et is determined to be the higher of its fair value less costs tg Sell and its value in use. An impaimienl loss is recognised where the carying amount exceeds the recoverab amount. Paqe 12
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (continupd) 2 8 Dgbtors Trade and other debtors are recognised al the settlement 8mounl after any trade discount offer?d. Prepayments are v3lued at the amount prepaid nel of any trade di5count5 due. 2.9 Cash at hank and in hand Cash al bank and in hand inclLhYes cash and short-lemi highly liquid invesirnenls wlh a short maturity of three months or less frorn the dale of acquisition or opening of the deposit or similar account. 2.10 Liabilities and provisions Liabilities are reCognisl when there is On obgation at the Balance sheet dale as a result of 2 past event, it is probable that a transfer of economic benefil will be required in settlement. 8nd the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that Ihe Company anticipates it will pay to settle the debt or the amount it has r8ceived as advanced payment5 for the goTrYs or ser¥iGes It rnust provide. Provisions are rneasured at the best estimate of the ar}untS required to sellle the I)lIgatiOn. Where the effect of the time value of money is wnaterial, thp provision is based on the present value of those amounts. discounted at the pre-tax discount rale that reflects the risks specific to 1he liability- The unwIling of the discount is recognised in Statement of financial activities as a finance cost. 2.11 Fwiancial inslwments The Cornpany only has financial assels and financial liabililies of a kind Iha1 qualify as basic financial instruments. Basic financial inslwments are initially recognised at transaction value and subsequently measured at Iheir settlement value with the exception of bank loans which are subsequently rneasured al amortised cost using the effective interest m2thod. 2.12 Fund accounling General funds are unTestricted funds which e available lor use al the discrelion of the Truslees in furtherance of the general objectives of the Company and which have nol been designaed for other purposes. Restrict funds relale s(Aely to the value of Heritage Assets held. All amounts, other Ihan Heritage assets. staled in the aCCnIS relale to unrestricted funds. The value of Heritage assets held has been transferred to restricted funds in the year as this better reflects the restrictions on their use. Paqe 13
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacies 2023 2022 Donations 4.854 4,038 Income from charltablé actlvlty 2023 2022 Rents 36.204 14,550 25,867 Gallery and loft hire 8,737 50.754 34,598 Income from Investments 2023 2022 Bank interest 34 Paqe 14
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Costs of charitable activity 2023 2022 Direct costs Property running costs Propertrrf repairs and rnaintenance Rental management fees Lease renewal legal fees Lease renewal management fees 26,128 6.647 21,034 27.759 2.748 1,578 5,456 13,860 54.839 50.371 Support costs Administration and adwertising offi and general costs Governance costs 15.581 5,457 2,550 1.499 2,656 2,180 19.630 10,293 74.469 60,664 Ind•ndont amIne$ r8muneratlon 2023 2022 Fees payable to the Companls Inde[ndent exarniner for the independent examination of Ihe Company's annual accounts 600 600 Fees payable to the Company's indendent examiner in respect of= Accounts preparation 900 900 Paqe 15
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees. remuneration and expenses No Trusteos r8c8ived any remuneration or other benefits in the year (2022 - £NILJ. During the year ended 31 December 2023. no Truslee expenses have been incurred (2022 - £NIL). Tangible fixed assets Long4er leasehold proporty Plant ond machlnory Office ulpm•nt Totsl Cost or voluation Al 1 January 2023 Addilions 3,408 19,763 7.987 2,921 26,092 7.987 At 31 December 2023 3.408 27.750 2,921 34.079 Depreciation Al 1 January 2023 Charge forthe year 2.125 170 8.145 1.388 1,193 576 11.463 2,134 Al 31 December 2023 2.295 9.533 1,769 13,597 Net book value At 31 December 2023 1.113 18.217 1,152 20,482 At 31 December 2022 1,283 11,618 7, 728 14,629 Paqe 16
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Herits9e assets Assets recognised at valuation Museui artlfact Carrying value at 31st December 2022 and 31st December 2023 177,000 177,000 Heritage assets consist of artifacts held in the museum. The a55ets range from fishing uIpment, relaled books and images, rchitectural items frown the West Pier and online archwe5. These assets cannot be sold and can only be re-allDcaled lo other accrediled museums. as such their value is kept in a restricted fund. In the view ol the Truslees there was no irnpairmenl lo the valuation of Heritage assets in the year. 11. DebtQf5 2023 2022 Trade debtors 9,739 2,661 3,918 Prepayments an(J accrued income 2,332 12,400 0,250 12. Creditors: Amounts falling the within one year 2023 2022 Other creditors 400 AccnJa15 and deferred income 1.620 3,241 1.620 3.641 Paqe 17
BRIGHTON SEAFRONT HERITAGE TRUST LIMITED (A company IlmKed by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Funds All assets in the accounts, other than the value of Heritage Assels, relate to general unrestricted funds. Due lo the restn"clions on the use of the Heritage Assets Iheir value is held in a restricted furKI. Movements on these funds are shown on the Stalemenl of Financial Aclivities. The fund transfer in the year relates tD the mDvement of the value d Heritage Assets to a restrict&J fund. 14. Related Party Transaction5 A Briault and R Leighlon, trustees. renl space from the charity for arches 194-197. Renls payable were £16,867 for the year {2022'. £13,000) of which £458 was ouistanding at the year end (2022.. £NIL). Page 18
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