REGISTERED COMPANY NUMBER: 03880688 (England and Wales} REGISTERED CHARITY NUMBER.. 1079695 R• rt ofthè Trust••s and UnaLHlited Financial Statements For Th• Y•ar End•d 31st March 2023 inwFred Wharton Trust Cheney & Co 310 Welliwbor(KJah Road Narthampton NN14EP
Wlnlfred Wharton Trust Contents of the Finan31 Statements or ear arc Pa9e Rèport of thè Trustees 1 to 3 Ind•p8nd8nt Examinorfs R•port Statement tsf Flnan¢lal A¢bvitles Balance Sheet Notes to the Financial Statements 7 to 11
Imnlfred Wharton Trust R Istered number: 03880688 Ré rt tsf thè Trustèès ear st Th& trustèès who are also diractors of th8 charity fi Ihe purposes ol thè Compani8s Act 21Y)6, prasant thèir report with thè financial statemonts of Ihs chaiity lor the ygar ondèd 31st March 2023. Tho ttusAès havè adopt6d th? provisions of A¢¢ounling and Reporting by Chanb'es.. Statement of Re(x)mmerKled Practice aptAicetAe to charities preparing theii aGwunts in accordance with the Flnandal Repming stsndard applkable In ihe UK and Republlc of Ireland {FRS 1021 leffecte 1 January 20191. OBJECTIVES AND ACTMTIES Oblectlves and aim$ Its objeGtiv¢s ale to preserve for the benefit of the l¢)wnstwple of wkat was Ihe Borough of wel1ingboroh. and of the nation at 13rge, whatever of historical, archileclural and conslructional heritage IhBI fnay exist In a11d around the old Borough of Wellingborough. The 1rnary means of delivering Ihk% k% by prowding a museLmlheritage centre in which lo display collecli(ns ol artefacts. The Trustees have decided that. in the cuirent ec0norll clirnate we 5trK>uld be carefijl of takIr new initiatives. We have a healthy bank balance and we do not ¥eek funding from the local Coun1 or anere else. Wellingb0rgh is now in 8 unil8ry authority with Corby. Kettering and East Northants I"North W)rthamptonshire". NNCI. Tkere is also a Well*igborough Town Council, which, like a parish council, has unpaid councillS. It has three salaiied offerS and has taken over many of the town actwits.es Irtsm the NNC- to Wellingborough'5 advantage. We depend on profits frDm our shop. café. and room letting. We are now in the same poE4tion- finsnGialty and fo)r visitors -as before Covid. We are fortunate in attracting very able volunteers- some from before we nv)ved to Dulley's Baihs in 2007. and the friendly atmosphere in the building is reflected in ojr visitor re¥w$ C TripAdNisor. We issue 8 rnonthly neWetter whith we email out, now to over 18(K) rustomers. This adver85 the many 8Ctwities we h(Ad n th8 musgum, mainly in th8 school holidays. and we 1ry to mainlain these as fre8 admission, bging aware of th8 financial diffiCultS of some families. We must not foiget that our pnmary purptsse is as a museum aThJ we are wotkiru on the ienewal of our Museum Actreditation. Thp Museum collection is trAtalogued and tthot(yJraphed In the copUter tKogram Modes for kvindows and there is no backlog. Publlc beneflt Winifved Wharton Trust has made referen to the guidarts In thp cfority Commission's general guidance on Public Benefit when reviewing its aims and objectives and pla)ning its future adivilies. Ir particular, the trustees consider how planned activib"ES will contribute lo the 8im5 and objective5 they have sel for the organisab"or, thus ensuring public benefit continu8s to be d81iveied. ACHIEVEMENT AND PERFORMANCE Charitable activities On TripAdvisor, we are Ihè numbèr 1 attraction in the Borough of Wellngborough. FINANCIAL REVIEW Financial position Our shop Irading company, Dulley¥ Baths Ltd. continues to donate all ils profits tr) the Trust. The Truslees were concemed for the future ol Wellingborough as a sW)ping town and this has proved to bè th8 case- hOwer we arè bucking the trènd and mLL8t liè the Ikst loy/s(KJvènir sh(w in town. ArKJ thère ts frèe parking in tha try. Investment pollcy and oblect5ves Bank interest rates have Improv but we are seojring the ftsture of the museum by )1 taking any chances financially. Rèserv•s polley The truste95 believe they neod lo ensure the futurtr of tho ¢harty by makn.ng sur& that il has suffi¢4ent rosorv8s lo mt running costs. We are aware that the Charty Commission ¢kns not like charities to hcld Large cash reserves, but this has proved prudent in view of the increases in th6 cost of energy. FUTURE PLANS Our luture plan is 10 'keep going.. (hjr p(Aicy of tunning an excdlent shop arKI leth.ng out tMeetiri9 fDQtns. lather than seeking gants which can so easily be cut off has woved SU$$1 in these difficult tines aTrJ we see no reason 10 thange. Pa98 1
Imnlfred Wharton Trust R Istered number: 03880688 Ré rt tsf thè Trustèès ear st STRUCTURE, GOVERNANCE AND MANAGEMENT Govèmlng document The organisation is a ¢haritsbl& company limttgd by guaran199. incorpNatgd on 19tt) Novgmbgr 1999 and regi$1grod as a Chaty on 3rd March 2000. Anyone (including orgaThisal'onsl may be apwnled a member. Their admiss and cOndonS of membership are regulated by the trustees. At March 31st 2023 the memkrs total four and are its tnjstees, each ol whom agrees lo contribute £10 in the event of the charity winding UP. ReGruitrnent and appointwnent of new trustses The company was estsblished under a Memoranthjm ol A¥atiOn which established the objects and powers of the charitable company and is governe(J under its Artcles of Association. Under tiose Articles. all trustees shall retire at the company's first Annual General Meeting IAGMI and ale available fot re-elecwn. Thereaft. all trustee5 will setve a period LJP to 3 yEars. one third of all trustees retiring and being available for re-election at each AGM. Organisational structur• In accordance with the Articles ol Association, number of trustees shall ncA be less than three but shall not be subject to any maximutn. At March 315t 2023 there are foul ttustee5. The Itustee5 tneet four ts.mes a year. Induction and training of new trust885 New trustees are encouraged to altend apprOprie extemal training CoUes. aThJ meet key emFdoyees and other trustees - all of which will facilitate the undertakiny ol their role. Related partios The only related party wnsidered by the Trustees are those disclosed in the notes to Ihese financial staternent8. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03880688 IEngland and Wales) Reglstere(I Charlty number 1 795 R•gistÈred oificè 146 Main Roa Wilby Wellingborough, Northamplonshire NN82UE Truslees Mrs l.H. Wharton R.D. Wharton Mrs D Keech C Baley Conyany Secretary Mrs l.H. Wharton Indep¢nd•nt Examln•r P A Sparks Cheney & Co 31 D W@Ilingborough Road Northampton NN14EP Sollcltors DFA Ltd 8 cheyne Walk, Northampton. NN15PT. Pa98 2
Imnlfred Wharton Trust R Istered number: 03880688 Ré rt tsf thè Trustèès ear st REFERENCE ANO ADMINISTRATIVE DETAILS Advl$•rs Banker5 CAF Bank Limited 25 Kings Hill Avenue, King5 Hill, West Malling KentME19 4JQ MEMBERS OF MANAGEMENT COMMITTEE Members for 1he Management Committee, who are directos and trustees fow the purp< of company law arn1 trustees for the puitx)se of charity law, who served during the year and up to1he date of this ieFX)rt are set out on page 1. In 8ccord8nGe wtth company law. as the company¥ diredors. we rtity that.. - SD far as we are aware. there is no rthvant accounts information Ofh the companrfs accountants are unaware.. atm - as Ihe director5 of the company we have taken all the steps that we ought to have taken in ordei to make ourselves aware of any relevant accounts inforrnalion and to eslablish that the £*arity's accountants are aware of that info1TTtIOn. Thls report has been prepared in accordance wrfh the s131 provtsions of Part 15 of the Companies Act 2006 relating to small companies. Approved by crder of the board oftruslees on 13th Dec8mbw 2023 arNJ signed on tts behalf by". R.D. Wharion- Trustee Pa98 3
Inde endent ExamIS Re ofl rus ort to the Trustees of ere num er= Independent *xamln¢rf$ report to the trustees 0lWinlfred Wharton Trust llhe Compan) I repM)n to Ihe chanty trusiees on my exanatiOn of Ihe aCCn[S of Ihe Company for the year ended 31st March 2023. R•sponslbllltl•s and basls of report As ¢harity's trustoss of th¢ Company land also its directots for thè purpos¢s of (x>mpany kwl you aro rgsponsiblg for th preparatn ofthe acwunts in accoidarKe wth the requiretnents of Ihe CiwnpaTres Act 20061.lhe 2006 ACYI. Having satisfied myself that the accounts of the Company are not to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I rerort in respect ol wy examinati of )ur chariVs accounts as carried out under Section 145 01 the Charities Ad 2011 1'th¢ 2011 A¢t'l. In carrying out my ¢xaninath"on I have ftloWed the Directions given by the Charity Commission under Section 145(5) Ibl ol the 2011 kt. Ind•pond•nt oxaminerfs ststomont I have completed my examinaticm. I confimi that no matters have come to my attention in connection with the examination giving me use to believe.. accounting records were not kept in respect oflhe Company as required by Sedion 386 of the 2006 Act., or the accounts do not accord with those records.- or the actounts do not comply wth Ihe accounl'ng reqJirements of Section 396 01 the 2(XJ6 Act other than any requirement that ttrE accoun15 give a true and fair view which is not a matter considered as part of an independent exatnination., or the accounts have not been prepared in ac(X)tdare wtth the meth(xls and prinEiples of the StatetnEnt of Recommended PraGtice for accounting and reporting by charities (applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK aThJ Republic of Ireland IFRS 10211. I have no GonrS and have cOe across no 01hew matters In conr wtth the examinathon to which attention sk¥Juld bp drawn in this report in otder to enable a proper understanding of the accounts to be reathed. P A Sparks Cheney & Co 31 Cl Wellingborough Rcad Northampton NN14EP 13th De¢embet 2023 Pa98 4
Wlnlfred Wharton Trust ststÈmènt of Financial Activitlés an n¢ome an en Iture A¢¢ount ear In or arc 2023 Total funds 2022 Total funds Unfvstrict fund Resiricted fund Noies INCOME AND ENDOWMEMTS FROM Donations and legacies 41,734 41.734 26,678 Investment income Total 831 27,509 EXPENDITURE ON Raising funds 8,399 8.399 2,378 Charitable activitie5 Costs of generating funds Total 23.071 21,114 23,492 31.470 NET INCOME 12,321 12.321 4,Ct17 RECONCILIATION OF FUNDS Total fijnds brought forward 430.690 497.890 928,580 924.563 TOTAL FUNDS CARRIED FORWARD 928,580 The notes fomi part of these financial statements Pa98 5
Imnlfred Wharton Trust R Istered number: 03880688 Balan¢È Shtèt $t ar 2023 Total lunds 2022 Total funcls R8siricted fund fund Notes FIXED ASSETS Tangible assets Héntsgé assèts 69,OOD 497.890 566,890 566,647 50,828 617.475 119.828 497.B90 617,718 CURRENT ASSETS Debt015 Cash al bank 30.838 343.540 374,378 30.838 343,540 374,378 20,C196 342.f)78 362,174 CREDITORS Atnounts falling due Mthin one year 10 151.1951 151,1951 151,0691 NET CURRENT ASSETS 323.183 323,183 311.105 TOTAL ASSETS LESS CURRENT LIABILITIES 443.011 497.890 940.901 928,580 NET ASSETS FUNDS Unrestricted fund5 Resiricied funds TOTAL FUNDS 11 443.011 497.890 430.690 497,890 928 580 The tharitable company is entitled to exemptty)n from audit under Section 477 of the Companies Acl 2006 lor the year ended 31st Mard) 2023. The members have not required the company lo obtain an audit of its financial statements for the year ended 31st March 223 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge thwr respsIbl[tieS for la) ensuring that Ihe charitable Company keeps accounting records thal comply wth Sections 386 and 387 of the Companies Act 2(N)6 and preparing financial slatements whKh give a true and fair view of ihe stste of affairs of the charrtable company as at the end of each llnancial year alld of its surplus or deficit for each finanual year in accordanoe with the iequiretnents of Sectlons 394 and 395 which othenise CoMY wth the requirements of the Companies Act 20[ relaling to financial statements, so far as appluble to the tharitst4e CoMpy. Ib These financial statements have been prepared in accordan the wo¥isKms aOicable lo charitable companies subject to the small Mpani&S rgim8. The financial staiements were approved by the Board of Trustees and alCSed for issue on 13th December 2023 and were signed on its behalf by,. R.D. Wharton- Trustee The notes fomi part of these financial statements Pa98 6
Wlnlfred Wharton Trust Notès to thè Financial Statemènts ear st ACCOUNTING POLICIES Ba$1$ of prèparlny th• financial s1atèmts The finanGial statements ol the charilable company. whith is a public benefit enlily under FRS 102, have been propared in accordance wllh the Charlues SORP IFRS 1021 'Accouniing and Reponing ty Charltles.. Statement of Recommende Practice applicable to charities preparing t1r cOts in accordan wth the Financial Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Fin8ncial Reporting Stsndard appkable in the UK and Republic of Iland. and the C(Mnpanies Ad 2006. The financ1 ststem¢nts have been pre[¢d under the his1M¢al cost Gonvention. These finanaal statements for the year eThJed 31st March 2022 thal comply with the provisions ol Secbon 1A 'Small Entities. of Financial Reporting Standard 102, Tr Financial Reporting Standard applicable in the UK and Republlc of Ireland. The Significant accounl'ng policies applEd Ihe preparation of these financi81 statements are set out below. These PL4icie3 have been consistency aprdied to all years wesented unless otherwse stated. The pie5entati(n cuncY of the ffinanaal slatements the P(yJnd Sterling {£1. Income All income is recogni8ed in the Statement of Finanoal ActNrties once charity has entitlement to the funds. it is probable that tlE income Wrfill be re1ve and the amount can Je measured rdiably. ExpendTrtur8 Liabiliti8s are recognised as expenditure as soon as there is a legal or construclrrfg o)blpJalion comrnitting the charity to that expenditure, it is probable that a Iransfer of economic ber£fits 11 be required in setNement and the amount of th obligation can be tneasured ieliably. Expenditure 15 accounted fot on an arctuals basis and ha5 been classified under headings that aggregate all cost related to the Catory. Where (x)sts cannot be directty attributed lo particular headings they have been 311cKated to activiknes on a baS con51Sterbt the use of resour. Tanglble fixed assets Depreciation is provided at the fdlowing annual rates in otder to wtite off path asset over its estimated useful life. Restricted Prorty Fund Fixtu$ and fittings Computer equipment 4% on cosi 10% on cosl 25% on cosl HeritagÈ assèis Depreciation is noi ch8rgÈd on heritage assets a5 the residual value is ¢oftsidered to be higher than the carrying valuÈ.Thè Iruslees review any addItnal purchases (or the increase in Ihe display lor Museum, and conlinually review the items held and assesses Ihe preserYabc needs. Taxadon The ¢harity is exompl from ¢orwratK)n tsx M lis ¢haiitaWe actsv"es. Fund accountlng Unr6SlriCted funds can be us8d in accordatKe with tharilable (A4èctNas at Ihè disu8tion ol the trustees. Roslrided funds Can only bts used fot parts.wlar rèstwrl8d puryxws wthin th& (*>p¢ts Of thtr charity. Rastridions arise when specified by the donor or when fvnds are raised for particular restricted purpM)ses. Further &xplanatn of the nature and of èath lund is Thlthd in th& not•s to thè finarKial statements. Pa9è 7 continLJ8d...
Wlnlfred Wharton Trust Notès to the Financial StatèmÈnts- eontinu¢d or ear st INVESTMENT INCOME 2023 2022 De[11 aGGounl interest 2.ts57 831 INCOMEIIEXPENDITUREI Net incomel{expenditurel is stated after Chargin(credItingI-. 2023 2022 Depre¢ialion - owned assets Amounts paid to ITependent Examiner 1.139 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remunerath.on or (ther beneffts for year ended 31st March 2023 nor for the year ended 31st March 2022. Tru$t¢e$' ¢xpen$¢s There were no trustees. expense5 paid for the year ended 31st March 2023 nor for the year ended 31st March 2022. STAFF COSTS 2023 2022 Wages and salaries 123 123 The average tnonthty nurwbbgr of em 0yeeS during yeai Wds as ftAIryws.' 2023 2022 Staff No employees received emoluments in excess of £60.CO). COMPARATIVES FOR THE STATEMENT OF FINAMCIAL ACTMTIES Unr¢$lrirted fund R¢slricted fund Totsl lun(ts INCOME AND ENDOWMENTS FROM Donations and legacies 26,678 26,$78 Investrnent income Total 831 7.509 831 27,509 EXPENOITURE ON RaisirvJ funds 2.378 2,378 Charitablè aetivitiès CcTrsts of gènèrating funds Total 21,114 23,492 21,114 23,492 NET INCOME 4.017 4.D17 Pa9è 8 continLJ8d...
Wlnlfred Wharton Trust Notès to the Financial StatèmÈnts- eontinu¢d or ear st COMPARATIVES FOR THE STATEMENT OF FINAMCIAL ACTIVITIES- contFnued UnrÉstricted fund Restricted lund Totsl ILJn(ts RECONCILIATION OF FUNDS Totsl funds brought forward 426,673 497,890 924,563 TOTAL FUNDS CARRIED FORWARD 430.6 497.890 928.580 TANGIBLE FIXED ASSETS Unresthcied Property Furid Restnued Property Fur Fixiures and Fil.g5 Compuler equiprnenl COST At 1st April 2022 Addil*)ns Al 31st March 2D23 DEPRECIATION At 1st April 2022 Charge for year Al 31st fvlarch 2023 NET BOOK VALUE At 31st Maich 2C123 At 31st March 2D22 66,204 991,497 58,660 3.227 1,119,588 991497 1 120 778 491607 56,518 2,616 103 552,941 947 553.888 491607 308 411 566 890 497.890 HERITAGE ASSETS Total MARKET VALUE At 1stApril 2022 8nd 31st Marth 2023 NET BOOK VALUE Al 31st March 2023 Al 31sl Marth 2022 DEBTORS: AMOUNTS FALUNG DUE bvrrHIN ONE YEAR 2023 2022 Monies due from Dullels Baths Pa9è 9 continLJ8d...
Wlnlfred Wharton Trust Notès to the Financial StatèmÈnts- eontinu¢d or ear st 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accrued expenses 51,069 11. mOVEmEP IN FUNDS Net movement in fijnds At 31.3.23 At 1.4.22 unre5tr1ed funds General fund 12.321 443,011 Restricted funds PrDperty Fund - Re5tride(I 497,890 497,89Q TOTAL FUNDS Nel movemeni In funds, indLKJed in Ihe atKJve are as Idl(y•ts'. Incoming rèsourcès Resources expended Movement in funds Unrestrl¢t¥d fvnd$ General fund 43,791 131.4701 12,321 TOTAL FUNDS 314701 ComFKrative5 for rnovement in lund5 Net movement In ftjnds At 313.22 At 14.21 Unrestricted funds Gener81 fund 426.673 4,017 430,690 Restrictsd funds Property Fund - Restricted 497,890 497,890 TOTAL FUNDS 928 580 Comparative net movement in funds. included in Ihe atM)ve are as folh)ws'. Incoming resource5 Resources expended Movernent in funds Unrestricted funds General fund 27.509 123,4921 4,017 TOTAL FUNDS 27.509 23 4921 Page 10 continLJ8d...
Wlnlfred Wharton Trust Notès to the Financial StatèmÈnts- eontinu¢d or ear st 11. MOVEMENT IN FUNDS- contlnued A ¢ucrgnt year 12 months and prK)r ygar 12 monlhs (xmnbined r>ositK>n is as follows.. Net movement in funds At 31.3.23 At 14.21 Unrgstrlded funds Gene[31 fund 426.673 16,338 443,011 R•strict•d funds PropErty Fund - Restricted 497.8 497,890 TOTAL FUNDS 16 338 A current year 12 months and prior year 12 monlhs (xxnbined rnet movèment in funds, induded in thè abcTrvè arè as follows". InmIng resources Resources expended Movernent in fund5 Unr•strlctèd funds General fund 71.3(Kl 154,9621 16.338 TOTAL FUNDS 54,9621 16.338 12. CONTINGE1 UABILITIES There were no Contingent Liabilities as at 31sl March 2023 or 31st Marth 2022. 13. CAPITAL coIAirrMENTS There were no Capital Commitments as al 31st Marth 2023 or 31st Mai(* 2022. 14. RELATED PARTY OISCLOSURES Three of the trustees are directors in Dulleys Baths rnited, 8 CA)mpany which swrenders Its profits to the charity each year in accordance with its Articles of Asswation. Durir¥J the ye8r rt surrendered £26,010 12022.. £13.8011. The amount due fro)m Dulley's Baths Limited at the year end was £30.837.12022.' £20.0961. 15. RESTRICTED FUND This money will be graniwj on the basi% ol joint ownership belween Ihe Heritage Lottery Fund and the Winifred Wharton Tl until the 4th July 2030, where ownership reverts sdely to the Winrfred Whwton Trust. Pag& 11
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