REGISTERED COMPANY NUMBER: 04800047 (England and Wales) REGISTERED CHARITY NUMBER: 1101315
MIDDLETON HALL TRUST
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
MIDDLETON HALL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 18 |
MIDDLETON HALL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES F E Fox P A Collins K E Smith (resigned 14.9.2020) T Y Simkins (resigned 31.1.2021) A R Jenns (resigned 15.4.2021) F V Broomhall (resigned 15.2.2021) D M Laycock P A Bailey (resigned 15.4.2021) J Wait B K Treadwell B Goodwin (appointed 12.10.2020) P Pomfret (appointed 12.10.2020) P E Smith (appointed 8.2.2021) C L Haines (appointed 10.11.2020) COMPANY SECRETARY D M Laycock REGISTERED OFFICE Middleton Hall Middleton Tamworth Staffordshire B78 2AE REGISTERED COMPANY 04800047 (England and Wales) NUMBER REGISTERED CHARITY 1101315 NUMBER INDEPENDENT EXAMINER Philip Barnes & Co Limited Chartered Accountants The Old Council Chambers Halford Street Tamworth Staffordshire B79 7RB HERITAGE SITE MANAGER J Habart
Page 1
MIDDLETON HALL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is to restore and maintain Middleton Hall and its grounds for the benefit of the public as a building of special and historic interest and as a centre for study and public education in the conservation of land and its natural resources.
Significant activities
The Trusts principal activities are the restoration work and the day-to-day maintenance of Middleton Hall and its surrounding buildings. Following the easing of lockdown regulations, the gardens and grounds were opened to the public, Wednesdays to Sundays, plus bank holiday Mondays during the summer months.
Public benefit
In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission's general guidance on public benefit, including the guidance on public benefit and fee charging.
During the year, all the activities described in this report were undertaken for public benefit.
Volunteers
The charity is reliant upon its numerous volunteers for their dedication, skills and knowledge, freely given in helping to achieve the objectives of the Trust. This year the amount of volunteer activity was severely restricted in line with the requirements concerning public safety as part of the Covid precautions. This has not been quantified in the accounts. The trustees are grateful for volunteers time and effort in ensuring their own and the public's safety once they have been able to return on site.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In March 2020, the United Kingdom entered a national lockdown due to the Covid19 pandemic and Middleton Hall and Gardens were closed from March 2020 until June 2020.
The pandemic dominated the year with restrictions placed upon opening and additional costs incurred to ensure that the Hall and Gardens were 'Covid safe' for subsequent re-opening.
Although limited by social distancing restrictions the Trust still managed to open the Hall and gardens, and concerted efforts were made to increase the profile and public awareness of the historic buildings and grounds using an improved digital presence.
Unable to hold regular special events such as the Plant Holders Fair, monthly Midland Motors or evening concerts, efforts were directed at developing a regular programme of Children's outdoor trails, including a Halloween trail, and an increased facility for outdoor picnics, reflecting a changed demographic of visitor from over fifties to families with children.
Significant financial support was received from the Heritage Lottery Fund, NWBC and the Governments furlough scheme.
Investment performance
Other than cash funds deposited with CCLA in their COIF Charities Deposit Fund, the only investment held by the Trust is its 100% shareholding in Middleton Hall Trading Limited.
Page 2
MIDDLETON HALL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
Principal funding sources
In addition to entrance fees and donations from individuals and groups the charity also continued to receive rental income from the units in the courtyard.
Financial review
During the financial year we achieved a surplus of £75,743 compared to a deficit of £32,766 for the year ended 31 March 2020.
Income for the year ended 31 March 2021 increased to £311,631 compared to £228,977 for the year ended 31 March 2020 with decreases in admission fees being offset by increases in grants received particularly the Heritage Lottery Fund. As a consequence of the Covid-19 pandemic we also received Coronavirus Job Retention funding of £6,403 from HMRC as part of HM Government's package of measures to help employers combat the pandemic. Costs were well controlled during the year at £235,888 a 9.9% decrease compared to the year ended 31 March 2020.
As at 31 March 2021 our total reserves now stand at £176,939 compared to £101,196 as at 31 March 2020. Although reserves improved during the year this was predominantly through financial support provided due to the Covid-19 pandemic. Next year will continue to be a challenging environment for MHT and the level of financial support available in the next financial year will be reduced. We are therefore expecting to utilize a considerable proportion of our reserves in the current financial year.
The trustees confirm that after making enquiries they have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.
Reserves policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in fixed assets, which are the free reserves of the charity, should cover between three and six months operational costs. A minimum of fifty thousand pounds has been deemed necessary for this purpose.
PLANS FOR FUTURE PERIODS
The Trust plans to continue in its work to maintain and restore the Hall and enable its continuity as a benefit to the community.
KEY RISKS
The main risk concerns the ability of the Trust to achieve its charitable aims. The position is reviewed at regular Board Meetings and to ensure financial viability the Master Planning exercise has been undertaken with HLF and AHF grant funding.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Middleton Hall Trust (MHT) is a company limited by guarantee (company registration number: 04800047) which was incorporated on 16 June 2003 and achieved charitable status on 22 December 2003 (charity registration number: 1101315).
MHT was established under a Memorandum of Association which established the objects and powers of MHT and is governed under its Articles of Association.
In the event of MHT being wound up members are required to contribute an amount not exceeding £10.
Recruitment and appointment of new trustees
The Board identify desired skill sets and attributes and seek suitable persons to fit these criteria. Trustees are appointed in accordance with the Memorandum and Articles of Association.
Page 3
MIDDLETON HALL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The charity is managed by the Board of Trustees, which should number no more than 20 at any time, and no less than 10. MHT currently has 9 trustees and the board is in the process of recruiting further trustees.
We draw upon a wide range of skills mix for our Trustee Board ranging from specialist skills (such as heritage, local government), professional skills (such as law and accountancy) and broad commercial skills. All our trustees have current or past experience of being a trustee, director or partner in either a charity, commercial, statutory or professional organisation.
Furthermore, all our trustees give their time voluntarily and receive no benefits from MHT. Any expenses reclaimed from MHT by trustees are set out in the notes to financial statements.
Day to day management is performed by the Heritage Site Manager.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Middleton Hall Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 10 October 2021 and signed on its behalf by:
........................................................................ P A Collins - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIDDLETON HALL TRUST
Independent examiner's report to the trustees of Middleton Hall Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
C J Humphreys FCA Philip Barnes & Co Limited Chartered Accountants The Old Council Chambers Halford Street Tamworth Staffordshire B79 7RB
Date: 10 October 2021
Page 5
MIDDLETON HALL TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted funds £ Notes INCOME AND ENDOWMENTS Donations and legacies 3 50,111 Charitable activities 6 66,172 Other trading activities 4 856 Investment income 5 60 Total Income 117,199 EXPENDITURE Charitable activities 7 41,110 NET INCOME/(EXPENDITURE) 76,089 Transfers between funds 18 (2,000) Net movement in funds 74,089 RECONCILIATION OF FUNDS Total funds brought forward 86,244 TOTAL FUNDS CARRIED FORWARD 160,333 |
Restricted funds £ 194,432 - - - 194,432 194,778 (346) 2,000 1,654 14,952 16,606 |
2021 Total funds £ 244,543 66,172 856 60 311,631 235,888 75,743 - 75,743 101,196 176,939 |
2020 Total funds £ 128,741 90,502 9,418 316 228,977 261,743 (32,766) - (32,766) 133,962 101,196 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
BALANCE SHEET 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 12 Investments 13 CURRENT ASSETS Debtors 14 Cash at bank and in hand CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 18 Unrestricted funds: General fund Major repair and maintenance fund Operational costs fund Return to ‘normal’ fund Restricted funds TOTAL FUNDS |
2021 £ - 1 1 11,786 213,641 225,427 (48,489) 176,938 176,939 176,939 60,333 30,000 50,000 20,000 160,333 16,606 176,939 |
2020 £ 218 1 219 32,104 74,881 106,985 (6,008) 100,977 101,196 101,196 86,244 - - - 86,244 14,952 101,196 |
|---|---|---|
The notes form part of these financial statements
continued...
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MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
BALANCE SHEET - continued 31 MARCH 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 October 2021 and were signed on its behalf by:
............................................. P E Smith - Trustee
............................................. P A Collins - Trustee
The notes form part of these financial statements
Page 8
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. STATUTORY INFORMATION
Middleton Hall Trust is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The liability of members is limited on a winding up to a sum not exceeding £10 each.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements have been prepared on a going concern basis and the significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
Preparation of consolidated financial statements
The financial statements contain information about Middleton Hall Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The gift aid tax refund is included once the amount has been quantified. Grants are recognised when received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
These costs include property and improvement costs, which are charged in the year in which they are incurred.
Expenditure is shown net of disbursements where applicable.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity and include examination fees and costs associated with the strategic management of the charity.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 5% on cost Computer equipment - 20% on cost
continued...
Page 9
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees, for a specific, but not legally binding purpose.
Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Lease
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Contribution of volunteers
In accordance with the Statement of Recommended Practice no amounts have been included in these financial statements to reflect the value of services provided free of charge by volunteers.
3. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations and gift aid 10,520 Grants 26,072 Subscriptions 2,916 Donation from trading subsidiary 10,603 50,111 |
Restricted funds £ 848 193,584 - - 194,432 |
2021 Total funds £ 11,368 219,656 2,916 10,603 244,543 |
2020 Total funds £ 20,592 85,544 3,414 19,191 |
|---|---|---|---|
| 128,741 |
Grants received, included in the above, are as follows:
| Heritage Lottery Fund Architectural Heritage Fund Historic England Warwickshire County Council North Warwickshire Borough Council HMRC Coronavirus Job Retention Scheme |
2021 £ 163,950 11,367 16,792 1,475 19,669 6,403 219,656 |
2020 £ 54,200 25,000 - 1,000 5,344 - |
|---|---|---|
| 85,544 |
continued...
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MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
4. OTHER TRADING ACTIVITIES
| Unrestricted Restricted funds funds £ £ Fundraising events - - Sales of donated items - - Miscellaneous 856 - 856 - 5. INVESTMENT INCOME Unrestricted Restricted funds funds £ £ Deposit account interest 60 - 6. INCOME FROM CHARITABLE ACTIVITIES Admissions, visits, events and performances Rents receivable 7. CHARITABLE ACTIVITIES COSTS Staff costs Other projects and maintenance costs Other overheads Governance costs 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Operating leases Accountancy and independent examination Independent examiners – other services |
||
|---|---|---|
continued...
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MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
9. TRUSTEES' AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Key Management
The total amount of employee benefits received by key management personnel is £26,593 (2020 - £26,596). The charity considers its key management personnel comprises of the Site Manager.
Trustees' expenses
During the year travelling expenses of £32 (2020 - £nil) was claimed by one (2020 - nil) trustee.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was No employees received emoluments in excess of £60,000. |
2021 £ 82,297 1,146 1,347 84,790 2021 6 |
2020 £ 72,268 1,728 1,227 75,223 2020 5 |
|---|---|---|
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS Donations and legacies 40,362 Charitable activities 90,502 Other trading activities 8,645 Investment income 316 Total Income 139,825 EXPENDITURE Charitable activities 115,366 NET INCOME/(EXPENDITURE) 24,459 RECONCILIATION OF FUNDS Total funds brought forward 61,785 TOTAL FUNDS CARRIED FORWARD 86,244 |
Restricted funds £ 88,379 - 773 - 89,152 146,377 (57,225) 72,177 14,952 |
Total funds £ 128,741 90,502 9,418 316 228,977 261,743 (32,766) 133,962 101,196 |
|---|---|---|
continued...
Page 12
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
12. TANGIBLE FIXED ASSETS
| 12. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Fixtures | ||||||
| and | Computer | |||||
| fittings | equipment | Totals | ||||
| £ | £ | £ | ||||
| COST | ||||||
| At 1 April 2020 and 31 March 2021 | 89,142 | 5,352 | 94,494 | |||
| DEPRECIATION | ||||||
| At 1 April 2020 | 89,142 | 5,134 | 94,276 | |||
| Charge for year | - | 218 | 218 | |||
| At 31 March 2021 | 89,142 | 5,352 | 94,494 | |||
| NET BOOK VALUE | ||||||
| At 31 March 2021 | - | - | - | |||
| At 31 March 2020 | - | 218 | 218 | |||
| 13. | FIXED ASSET INVESTMENTS | |||||
| Shares in | ||||||
| group | ||||||
| undertakings | ||||||
| £ | ||||||
| NET BOOK VALUE | ||||||
| At 31 March 2021 | 1 | |||||
| At 31 March 2020 | 1 | |||||
| There were no investment assets outside the UK. | ||||||
| The company's investments at the balance sheet date in the share capital of companies include the | following: | |||||
| Middleton Hall Trading Limited | ||||||
| Registered office: United Kingdom | ||||||
| Nature of business: conference and events venue. | ||||||
| % | ||||||
| Class of share: | holding | |||||
| Ordinary £1 | 100 | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Aggregate capital and reserves | 6,560 | 10,604 | ||||
| Profit for the year | 6,559 | 24,842 |
continued...
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MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Amounts owed by group undertakings VAT Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2021 £ 549 68 9,021 2,148 11,786 2021 £ 31,678 1,285 396 15,130 48,489 |
2020 £ 27,350 202 2,400 2,152 32,104 2020 £ 142 1,240 351 4,275 6,008 |
|---|---|---|
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
16. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2021 £ 6,196 15,770 21,966 |
2020 £ 6,196 21,966 28,162 |
|---|---|---|
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Fixed assets - Investments 1 Current assets 208,038 Current liabilities (47,706) 160,333 |
Restricted funds £ - - 17,389 (783) 16,606 |
2021 Total funds £ - 1 225,427 (48,489) 176,939 |
2020 Total funds £ 218 1 106,985 (6,008) 101,196 |
|---|---|---|---|
continued...
Page 14
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
18. MOVEMENT IN FUNDS
| Unrestricted funds General fund Major repair and maintenance fund Operational costs fund Return to ‘normal’ fund Restricted funds NWBC Signage and interpretation fund Tea area Master planning fund Wellbeing Ground floor decoration Marketing Roof repairs Conservation management plan Tudor barn chimney repair TOTAL FUNDS |
At 1.4.20 £ 86,244 - - - 86,244 184 123 6,800 1,000 44 3,193 3,608 - - 14,952 101,196 |
Net movement in funds £ 76,089 - - - 76,089 (184) (123) (6,800) (550) (44) (1,436) 848 9,367 (1,424) (346) 75,743 |
Transfers between funds £ (102,000) 30,000 50,000 20,000 (2,000) - - - - - - - - 2,000 2,000 - |
At 31.3.21 £ 60,333 30,000 50,000 20,000 160,333 - - - 450 - 1,757 4,456 9,367 576 16,606 176,939 |
|---|---|---|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds NWBC Signage and interpretation fund Tea area Master planning fund Wellbeing Ground floor decoration Marketing Roof repairs Play area HLF Covid19 operational costs Conservation management plan Tudor barn chimney repair TOTAL FUNDS |
Incoming resources £ 117,199 - - 13,550 - - - 848 1,475 150,400 11,367 16,792 194,432 311,631 |
Resources Movement expended in funds £ £ (41,110) 76,089 (184) (184) (123) (123) (20,350) (6,800) (550) (550) (44) (44) (1,436) (1,436) - 848 (1,475) - (150,400) - (2,000) 9,367 (18,216) (1,424) (194,778) (346) (235,888) 75,743 |
|---|---|---|
Page 15
continued...
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds NWBC small grant NWBC Signage and interpretation fund Tea area Master planning fund Gardening fund Wellbeing Ground floor decoration Marketing Roof repairs TOTAL FUNDS |
At 1.4.19 £ 61,785 690 3,172 399 67,750 166 - - - - 72,177 133,962 |
Net movement in funds £ 24,459 (690) (2,988) (276) (60,950) (166) 1,000 44 3,193 3,608 (57,225) (32,766) |
At 31.3.20 £ 86,244 - 184 123 6,800 - 1,000 44 3,193 3,608 |
|---|---|---|---|
| 14,952 | |||
| 101,196 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds NWBC small grant NWBC Signage and interpretation fund Tea area Master planning fund Gardening fund Wellbeing Ground floor decoration Marketing Roof repairs TOTAL FUNDS |
Incoming resources £ 139,825 - - - 79,200 - 1,000 344 5,000 3,608 89,152 228,977 |
Resources Movement expended in funds £ £ (115,366) 24,459 (690) (690) (2,988) (2,988) (276) (276) (140,150) (60,950) (166) (166) - 1,000 (300) 44 (1,807) 3,193 - 3,608 (146,377) (57,225) (261,743) (32,766) |
Resources Movement expended in funds £ £ (115,366) 24,459 (690) (690) (2,988) (2,988) (276) (276) (140,150) (60,950) (166) (166) - 1,000 (300) 44 (1,807) 3,193 - 3,608 (146,377) (57,225) (261,743) (32,766) |
|---|---|---|---|
| (57,225) | |||
| (32,766) |
Page 16
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MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
18. MOVEMENT IN FUNDS - continued
UNRESTRICTED FUNDS
Major repair and maintenance fund
This designated fund has been set up to cover any unforeseen major repairs or maintenance across the Hall and Gardens.
Operational costs fund
This designated fund is set up in accordance with the reserves policy set out in the Report of the Trustees.
Return to 'normal' fund
This designated fund represents funds that have been set aside to prepare Middleton Hall Trust for the easing of Covid19 restrictions.
RESTRICTED FUNDS
Master Planning fund
Contains monies received from The Heritage Lottery Fund and from the Architectural Heritage Fund. The purpose of the master planning exercise is to ensure the long-term resilience, sustainability and financial viability of the Trust.
NWBC small grant
North Warwickshire Borough Council small grant specifically for promoting the Hall and gardens.
NWBC Signage and interpretation fund
Large grant to enable a new exhibition on the restoration and to enable improved signage and interpretation across the site.
Tea Area fund
Comprises a grant received from Tamworth Borough Council specifically to upgrade the kitchen and provide training for volunteers.
Gardening fund
Donations received specifically to maintain and enhance the walled and other gardens. This fund was fully expended at 31 March 2020.
Roof repairs fund
Includes donations received specifically to maintain the roof of the great hall and west wing.
Wellbeing fund
A grant in the previous year from Warwickshire County Council to enable us to host and promote wellbeing workshops and new skills sessions. As due to Covid-19 these events were unlikely to be effective, during this year the donor re-purposed the fund for improvement in outdoor space especially for children's wellbeing.
Ground floor decoration fund
Comprises a grant from North Warwickshire Borough Council towards the georgian styled redecoration of the ground floor west wing.
Marketing
A North Warwickshire Borough Council marketing grant to be lead partner in a group of local attractions to promote ourselves to tour groups and coach trips.
Play area
A Warwickshire County Council grant to provide facilities for an outdoor natural play area for the children that visit us.
continued...
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MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
18. MOVEMENT IN FUNDS - continued
HLF Covid19 emergency fund
Monies from National Lottery Heritage Fund, to cover basic operating costs during various government lockdowns and limited trading conditions due to the Covid-19 pandemic to ensure job security and the protection of our built heritage.
Conservation Management Plan
Funded by Architectural Heritage Fund Culture Recovery Programme to cover the development of a site wide conservation management plan including research, development, consultation, composition and publication to formally identify the heritage significance of the site.
Tudor Barn Chimney repair fund
This comprises a grant from the governments 'Cultural Recovery Fund' via Historic England to carry out emergency repair and conservation work to the medieval sandstone chimney stack.
19. RELATED PARTY DISCLOSURES
Group company transactions and balances are shown elsewhere within the above notes. In addition rents receivable includes £290 (last year £1700) from subsidiary company Middleton Hall Trading Limited.
One of the employees, whose remuneration under an existing contract of service is included within the staff costs note, was during last year appointed a director of the charity's subsidiary company. No remuneration or other benefits are paid or payable in respect of this directorship.
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