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 2024
MIDDLETON HALL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 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 |
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 19 |
MIDDLETON HALL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024
| TRUSTEES | P A Collins |
|---|---|
| C S Watson | |
| D M Laycock (resigned 11.1.2024) | |
| J Wait (to 8.8.2024) | |
| B Goodwin (resigned 18.5.2023) | |
| P Pomfret (resigned 30.5.2024) | |
| P E Smith (resigned 26.2.2024) | |
| C L Haines (resigned 11.1.2024) | |
| P R Anderson | |
| G Roberts | |
| A L Evans (appointed 18.7.2024) | |
| 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 |
| S Davies |
Page 1
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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 2024. 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 including studies and skills in the conservation and restoration of buildings and 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. 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 has not been quantified in the accounts. The trustees are grateful for volunteers time and efforts.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Activities at the hall increased slightly compared to the previous year level. The mix of activities also varied from previous years as different ideas were tried. Attendances, including group visits, are still in recovery mode. Families and those with a horticultural interest dominated our stream of visitors.
We said goodbye to a number of trustees from the Board of Trustees and we thank them for their dedication and commitment to the work of the trust. We continue to recruit to fill these positions.
We welcomed three new staff members who are developing the gardens, generating alternative activities, and building up the strong platform of volunteers to make Middleton Hall an attractive place for a wide variety of visitors. The benefits of these initiatives are being seen in 2024 and will continue.
Our project work was dominated by the deterioration of the Great Hall Roof and our plans to source funding and support to get it repaired. This was the biggest project we have undertaken and would like to thank Historic England, Historic Houses, Garfield Weston and the Pilgrims Trust for both their financial and heritage support.
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.
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.
Page 2
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Financial review
For the financial year we report an overall surplus of £69,989 compared to a deficit of £33,547 for the year ended 31 March 2023. However this is not a precise comparison as it includes the restricted fund grants and major expenditure related to repairing the Great Hall roof.
Excluding the roof related grants, unrestricted funds income, for the year ended 31 March 2024 decreased to £187,804 compared to £190,070 for the year ended 31 March 2023. Admission fees increased from £62,775 in 2023 to £68,624. Also rents increased from £46,244 to £61,468. The general unrestricted fund shows a deficit of over £16,000 for the year.
Operating costs were well controlled during the year at £204,501, being only a small increase on £199,584 for the year ended 31 March 2023.
As at 31 March 2024 our total reserves now stand at £224,046, compared to £154,057 as at 31 March 2023. This includes £86,126 relating to the Great Hall roof repair and £134,643 relating to ongoing operations.
Ongoing risks have been acknowledged and appropriate dedicated funds have been established to cover operational costs, as demanded by the reserves policy (£50,000) and a major repair fund recognising the Great Hall Roof (£60,000).
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. The repair to the Great Hall Roof is well advanced and completion expected in the next few months.
KEY RISKS
The main risk concerns the ability of the Trust to achieve its charitable aims. The position is reviewed at regular Board Meetings to ensure financial viability.
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 £1.
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. Potential trustees go through a rigorous recruitment and on-boarding process including both formal and informal interviews, attending and observing a number of board meetings, and full induction.
Page 3
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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 5. MHT currently has 5 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. Most of 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.
Key management remuneration
Details of key management remuneration are shown in the notes to the financial statements.
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 21 November 2024 and signed on its behalf by:
G Roberts - Trustee
Page 4
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 2024.
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 member of the 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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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
21 November 2024
Page 5
MIDDLETON HALL TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted funds £ Notes INCOME AND ENDOWMENTS Donations and legacies 3 53,901 Charitable activities 6 130,092 Other trading activities 4 1,200 Investment income 5 2,611 Other income - Total 187,804 EXPENDITURE Charitable activities 7 204,501 NET INCOME/(EXPENDITURE) (16,697) RECONCILIATION OF FUNDS Total funds brought forward 151,340 TOTAL FUNDS CARRIED FORWARD 134,643 |
Restricted funds £ 343,110 - - - - 343,110 256,424 86,686 2,717 89,403 |
2024 Total funds £ 397,011 130,092 1,200 2,611 - 530,914 460,925 69,989 154,057 224,046 |
2023 Total funds £ 93,483 109,019 1,200 1,093 800 205,595 239,142 (33,547) 187,604 154,057 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
BALANCE SHEET 31 MARCH 2024
| Notes FIXED ASSETS Investments 14 CURRENT ASSETS Debtors 15 Cash at bank and in hand CREDITORS Amounts falling due within one year 16 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 19 Unrestricted funds: General fund Major repair and maintenance fund Operational costs fund Restricted funds TOTAL FUNDS |
2024 £ 1 36,778 216,690 253,468 (29,423) 224,045 224,046 224,046 24,643 60,000 50,000 134,643 89,403 224,046 |
2023 £ 1 7,653 217,937 225,590 (71,534) 154,056 154,057 154,057 41,340 60,000 50,000 151,340 2,717 154,057 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 7
MIDDLETON HALL TRUST (REGISTERED NUMBER: 04800047)
BALANCE SHEET - continued 31 MARCH 2024
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 21 November 2024 and were signed on its behalf by:
C S Watson - Trustee
The notes form part of these financial statements
Page 8
MIDDLETON HALL TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Sale of tangible fixed assets Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2024 £ (3,820) (3,820) - 2,573 2,573 (1,247) 217,937 216,690 |
2023 £ 12,679 12,679 800 921 1,721 14,400 203,537 217,937 |
|---|---|---|
The notes form part of these financial statements
Page 9
MIDDLETON HALL TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Profit on disposal of fixed assets Interest receivable (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash (used in)/provided by operations |
2024 £ 69,989 - (2,611) (29,087) (42,111) (3,820) |
2023 £ (33,547) (800) (1,093) 2,144 45,975 12,679 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.23 | Cash flow | At 31.3.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 217,937 | (1,247) | 216,690 |
| Total | 217,937 | (1,247) | 216,690 |
The notes form part of these financial statements
Page 10
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 £1 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 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.
Insurance reimbursement monies are offset against the related expense heading in the Statement of Financial Activities.
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
The assets are now fully depreciated.
continued...
Page 11
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
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
| Donations and gift aid Grants Subscriptions Donation from trading subsidiary |
2024 £ 11,216 341,500 1,737 42,558 397,011 |
2023 £ 15,631 13,965 1,423 62,464 |
|---|---|---|
| 93,483 |
Grants received, included in the above, are as follows:
| Historic England Warwickshire County Council Garfield Weston Historic House Foundation Pilgrim Trust |
2024 £ 248,500 - 30,000 45,000 18,000 341,500 |
2023 £ 12,965 1,000 - - - |
|---|---|---|
| 13,965 |
continued...
Page 12
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 4. OTHER TRADING ACTIVITIES Miscellaneous 5. INVESTMENT INCOME Deposit account interest 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 |
2024 £ 1,200 2024 £ 2,611 2024 £ 68,624 61,468 130,092 2024 £ 108,884 274,229 73,560 4,252 460,925 |
2023 £ 1,200 2023 £ 1,093 2023 £ 62,775 46,244 |
|---|---|---|
| 109,019 | ||
| 2023 £ 85,721 70,185 71,342 11,894 239,142 |
8. SUPPORT COSTS
Support costs are included within the charitable activities costs. The governance costs of the charity comprise professional fees to assist the trustees in decision making and to comply with statutory requirements.
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Operating leases Surplus on disposal of fixed assets Accountancy and independent examination Independent examiners – other services |
2024 £ 115 - 2,850 439 |
2023 £ 13,736 (800) 2,450 439 |
|---|---|---|
continued...
Page 13
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
TRUSTEES' AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
Key Management
The total amount of employee benefits received by key management personnel is £33,803 (2023 - £33,801). The charity considers its key management personnel comprises of the Site Manager.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
11. STAFF COSTS
| STAFF COSTS | ||||
|---|---|---|---|---|
| Wages and salaries Social security costs Other pension costs Average monthly number of employees during the year |
2024 £ 102,335 4,101 2,448 108,884 2024 4 |
2023 £ 81,648 2,295 1,778 85,721 2023 4 |
||
No employees received emoluments in excess of £60,000.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS Donations and legacies 77,958 Charitable activities 109,019 Other trading activities 1,200 Investment income 1,093 Other income 800 Total 190,070 EXPENDITURE Charitable activities 199,584 NET INCOME/(EXPENDITURE) (9,514) Transfers between funds (3,973) Net movement in funds (13,487) |
Restricted funds £ 15,525 - - - - 15,525 39,558 (24,033) 3,973 (20,060) |
Total funds £ 93,483 109,019 1,200 1,093 800 205,595 239,142 (33,547) - (33,547) |
|---|---|---|
continued...
Page 14
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total |
||
| funds | funds | funds | ||
| £ | £ | £ | ||
| Net movement in funds | (13,487) | (20,060) | (33,547) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 164,827 | 22,777 | 187,604 | |
| TOTAL FUNDS CARRIED FORWARD | 151,340 | 2,717 | 154,057 | |
| 13. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2023 and 31 March 2024 | 89,142 | 5,352 | 94,494 | |
| DEPRECIATION | ||||
| At 1 April 2023 and 31 March 2024 | 89,142 | 5,352 | 94,494 | |
| NET BOOK VALUE | ||||
| At 31 March 2024 | - | - | - | |
| At 31 March 2023 | - | - | - | |
| 14. | FIXED ASSET INVESTMENTS | |||
| Shares in | ||||
| group | ||||
| undertakings | ||||
| £ | ||||
| NET BOOK VALUE | ||||
| At 31 March 2024 | 1 | |||
| At 31 March 2023 | 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 Aggregate capital and reserves Profit for the year |
2024 £ 8,766 38,765 |
2023 £ 12,559 42,558 |
|---|---|---|
Page 15
continued...
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade debtors VAT Prepayments and accrued income |
2024 £ 7,679 26,337 2,762 36,778 |
2023 £ 4,127 1,076 2,450 |
| 7,653 |
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Amounts owed to group undertakings Social security and other taxes Other creditors Accruals and deferred income |
2024 £ 3,666 852 2,059 644 22,202 29,423 |
2023 £ 1,177 8,192 903 245 61,017 |
|---|---|---|
| 71,534 |
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
2024 £ 3,378 - 3,378 |
2023 £ 6,196 3,378 |
|---|---|---|
| 9,574 |
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Investments 1 Current assets 164,065 Current liabilities (29,423) 134,643 |
Restricted funds £ - 89,403 - 89,403 |
2024 Total funds £ 1 253,468 (29,423) 224,046 |
2023 Total funds £ 1 225,590 (71,534) |
|---|---|---|---|
| 154,057 |
Page 16
continued...
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
19. MOVEMENT IN FUNDS
| Unrestricted funds General fund Major repair and maintenance fund Operational costs fund Restricted funds Roof repairs Greenhouse Natural Play Care for the gardens TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Roof repairs Natural Play Care for the gardens TOTAL FUNDS |
At 1.4.23 £ 41,340 60,000 50,000 151,340 - 1,717 1,000 - 2,717 154,057 Incoming resources £ 187,804 341,800 - 1,310 343,110 530,914 |
Net movement At in funds 31.3.24 £ £ (16,697) 24,643 - 60,000 - 50,000 (16,697) 134,643 86,126 86,126 - 1,717 (750) 250 1,310 1,310 86,686 89,403 69,989 224,046 Resources Movement expended in funds £ £ (204,501) (16,697) (255,674) 86,126 (750) (750) - 1,310 (256,424) 86,686 (460,925) 69,989 |
|---|---|---|
continued...
Page 17
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Major repair and maintenance fund Operational costs fund Return to ‘normal’ fund Restricted funds Wellbeing Marketing Roof repairs Portrait exhibition Greenhouse Natural Play TOTAL FUNDS |
At 1.4.22 £ 24,827 80,000 50,000 10,000 164,827 450 1,757 17,935 2,478 157 - 22,777 187,604 |
Net movement in funds £ (9,514) - - - (9,514) (450) (1,757) (21,908) (2,478) 1,560 1,000 (24,033) (33,547) |
Transfers between funds £ 26,027 (20,000) - (10,000) (3,973) - - 3,973 - - - 3,973 - |
At 31.3.23 £ 41,340 60,000 50,000 - 151,340 - - - - 1,717 1,000 2,717 154,057 |
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Wellbeing Marketing Roof repairs Portrait exhibition Greenhouse Natural Play TOTAL FUNDS |
Incoming resources £ 190,070 - - 12,965 - 1,560 1,000 15,525 205,595 |
Resources Movement expended in funds £ £ (199,584) (9,514) (450) (450) (1,757) (1,757) (34,873) (21,908) (2,478) (2,478) - 1,560 - 1,000 (39,558) (24,033) (239,142) (33,547) |
|---|---|---|
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.
continued...
Page 18
MIDDLETON HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
19. MOVEMENT IN FUNDS - continued
UNRESTRICTED FUNDS - continued
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 represented funds set aside to prepare Middleton Hall Trust for the easing of Covid19 restrictions.
RESTRICTED FUNDS
Great Hall Roof
Grants from Historic England, Historic Houses Foundation, Garfield Weston and Pilgrim Trust and donations received specifically to maintain the roof of the Great Hall and west wing.
Wellbeing
A previous grant from Warwickshire County Council to enable us to host and promote wellbeing workshops and new skills sessions. As due to Covid-19 these events could not take place, last year the donor re-purposed the fund for improvement in outdoor space especially for children's wellbeing.
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.
Portrait exhibition
From Warwickshire County Council and North Warwickshire Councillor's Fund to reproduce portraits of the Willoughby Family, previous owners of Middleton Hall, with interpretation to tell their stories to our visitors.
Natural play
A Warwickshire County Council grant to provide facilities for an outdoor natural play area for the children to discover science through nature.
Greenhouse
Specific donations to maintain and update the greenhouse.
Care for the gardens
Monies received from Daniel's sponsored walk for care and maintenance of the gardens.
20. RELATED PARTY DISCLOSURES
Group company transactions and balances are shown elsewhere within the above notes. In addition rents receivable includes £9,411 (last year £1,720) 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 a director of the charity's subsidiary company. No remuneration or other benefits were paid or payable in respect of this directorship.
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