Company reglstration number: 05062948
Charity registratlon number: 1103730
The Worcester Heritage and Amenity Trust Limited
(A company Ilmited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 April 2024
WESTCOTTS
CHARTERED ACCOUNTANTS
BLISINE59 ADVISERS

The Worcester Heritage and Amenlty Trust Limited
Contents
Reference and Admlnlslratlve Details
Trustees, Report
2to8
Independent Examinerfs Report
Staternent of Financial Activities
10
Balance Sheet
11
Notes to the Flnancial Statements
12to22

The Worcester Heritage and Amenity Trust Limltad
Reference and Administrative Detalls
Trustees
D Chieng
J Beale
S Jones
M Pantar
R Neil
J Inglis
J Panter
Secretary
S Jones
Charlty Reglstration Number
1103730
Company Registration Number 05062948
The charity is Incorporated in Unlted Kingdom.
Tudor House
42 Friar Street
Worcester
WR12NA
Westcotts (SW) LLP
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
Reglstered Office
Independent Examiner
Page 1

The Worcester Heritage and Amenity Trust Limited
Trustees. Report
The trustees, who are directors for the purposes of company law, present Ihe annual report together
with the financial statements of the charitable company for the year ended 30 April 2024.
Structure Governance
Governin
Docu
ent
Worcester Heritage and Amenity Trust is a charttable company limited by guarantee both incorporated
and registered as a charity on 3rd March 2004. The company was estsblished under a memorandum
of association, which established the powers and objects of the charitable company and is govemed
under its artides of association. In the event of the company being wound up members are required to
contribute an amount not exceeding £10.
The Director5 are also charity Trustees and in the articles are known as the Board. Each Trustee is
appointed for a period of 3 years after whith Ihey can be reappointed. All give time voluntsrily and
received no benefits from Ihe charity. Any expenses claimed are set out in the accounts.
PrO￿dureS are in place to ensure compliance with health and safety of staff, volunteers, and visitors.
The museum is accredited, and the associated processes ensure consistency of qualty- All
procedures are ￿vieWed periodically.
The Board is supported by an Operations Committee made up of volunteers and a Board member
who is the liaison be￿een the Committee and the Board of Trustees. The Committee members have
knowledge and skills about the day to day running of the charity and are authorised to deal with these.
The Trust's Alms and Objectiv8s
Pur
oses and ￿"m$
The charltls purposes as set out in the companVs memorandum are..
To advance the knowledge and understandlng of thé Héritage of the City of Worcester
by use of the historic Tudor House situated in Friar Street, In that City, its architècturé and
collections:
through educational activities inclusive of all ages facllltated In such ways and by such
means, Includlng modern means of communication, as the Assoclatlon sees fit
for the benefft of 811 Citizens of the City of Worcester and the publlc.
How what we do delivers ourJ)_urp.oses
The continuing objeclive during the year has been to build our visitor numbers and to increase access
to Tudor House and its collections.
The Trust and its develo
ment
Worcester Heritage and Amenity Trust was formed in 2004 in response to budgetary pressures
leading the City Council to close the Museum of Local Life, which was based in Tudor House in the
ntre of the City.
A Group of volunteers from Worcester sel out a plan to keep the building open to the public. The plan
manrfested itself as a three-year licence to use the downstairs rooms for public access. Fortunately,
wOr￿ster Municipal Charities (WMC) became aware of our efforts and made a pump priming grant to
help develop exhibitions and display materials. This was a first step in what evolved Into a supportive,
enabllng, long term relationship.
Page 2

The Worcester Heritage and Amenity Trust Limited
Trustees. Report
From 2003 to 2007 progress was tangible, as a volunteer only group we developed as a free to enter
Museum opening three days a week. Access was only permitted to the ground floor, where attractive
displays were installed, visitor numbers rose to 6,000 p.a. and we ran a café and shop supporting
running costs.
In 2007 the City Council proposed that we should pay an annual rent of £1Q,000 per year which would
have seriously challenged our viability. Happily, Worcester Municipal Charities (WMC) heard of Ihis,
and a creative plan evolved. WMC would take a 125-year, full repairing, lease for £100,000 and
sub-let it to WHAT for a pepper corn rent. WHAT would pay £1.000 per year and WMC £4.000 into
'sinking fund. for maintenance. This generous and hugely important lease, predicated on the building
being used for heritage and education purposes. not only enables certainty on property related costs
but importantly indicates long term sustainability to reassure other potential funding bodies.
This lease extended to all 11 rooms to be used. where we broadly interpreted the uses of the house
over the ages. The operation continued to grow with in excess of 10,000 visits per year recognised by
several regional and national awards for visitor friendliness, warmth of our welcome and our positive
work with children.
During this year WMC have agreed with wOr￿ster City Council that the lease will be extended to 999
years. This further cements our ability to apply for funding and support for the charity and plan for the
future with certainty.
To take the next step in developing and improving our visitor experlence we needed to attract
signfficant capital grant funding. To improve our chances of success we were advised that we should
become an Accredited Museum (The Arts Council England quality standard). WMC recognised the
enormity and importance of the task and suggested we employ a museum professlonal in a
curatorlallmanagerial capacity for which they would award us a very generous annual grant of
£20.350 Index linked. We were awarded Accreditation status In 2017. On the back of the award for
accreditation WMC also made a further grant award to support a part time Learning Offi￿r. This
enabled us to improve our education offer and to open to the public 4 days per week. By 2022, with
inflationary increments the annual support grant had risen to £37,615. Undoubtedly without this
regular award to support our revenue expendlture our operatlon would look very different and the
challenges of running it as volunteers much more onerous.
By this time, we were receiving 20,000 visitors per year, the museum was making a surplus each year
and our thoughts turned to an exciting expansion plan. It involved gaining HLF funding support to
renovate and stabilise the unique to wor￿ster. decorative Tudor plaster ceiling and to re interpret the
museum to emphasise the Tudor Worcester period and the strong Clothier connections of the house.
Whilst Covid caused a dramatic slowdown in our progress. we had the capital in place and by
developing safe methods of working we were able to complete our projects. Financially during Covid
we were able to batten down the expenditure hatches and made use of the furlough scheme. We also
had benefrt of the Covid Recovery grants.
In 2023-24 we have focused on fulfilling our charitable objects and continuing to build visitor numbers
through continual improvement to our offer.
Page 3

The Worcester Heritsge and Amenity Trust Limlted
Trustees. Report
How what do dellve
ubllc benefit
Tudor House is in Worcester and the main beneficiaries of our charity are residents of the city and
surrounding areas. We are usually open to the public on 4 days a week - Wednesday. Thursday,
Friday. and Saturday with other days for specific events. The combination of weekday and weekend
opening means that a range of members of the publlc can acce88 the building for fre8 so there is no
financial barrier. During the year 48 volunteers were actively engaged with the Trust and we were able
to run the charity with their support, building on the practices we developed post Covid. Volunteers
play a very valued part in enabling us to deliver the charitys objects, and many gain personally from
their participallon. For example. friendships have developed between volunteers as they share shifts,
helping to reduce feelings of isolation. We also run regular volunteer 'get tcgethers, and invite them to
our annual stakeholder event, which supports the team approach lo running the museum.
We welcomed 21,193 visitors during the year, over 1,000 more than the previous year. including from
elsewhere in the U.K and some from abroad. We offered a variety of events at Tudor House which
attracted visitors. We continued to engage with organisations such as the local Business Improvement
District and other heritage venues to take part in themed events such as the Chrislmas Fa5ffe and
heritage Open Days. These rnaximised the availability of the House as a destination in the
community- Our own research during the year showed that 80¥0 of visilors are coming to Tudor House
for the first time and 16% of visitors find out about us from our website. The annual attraction visitor
survey produced for Visit Britain showed that Tudor House was the 18th most visited free attraction in
the West Midlands in 2023-24. an improvement of one place compared to the previous year.
We had a positive year regarding education and outreach at the museum. 2.816 Ghildren visited the
museum and our outreach programme also involved pupils off site. Examples of outreach include all
of year 7 at Bishop Perowne, and Norton schools. Sthools who visited included St. Barnabas.
Pitmaston. St Joseph's and Great Witley.
Page 4

The Worcester Heritage and Amenity Trust Limited
Trustees. Report
School visits usually run for 4 hours, with children participating in an activity all together on aThival.
before enjoying a carousel of 3 other workshops. Our option of choice is always to welcome schools
to the Museum. but we feel that outreach is a strong 'second best. and will help us to reach both
younger pupils in Worcester schools who might not be able to manage a walk of up to an hour to the
Museum. as well as schools outside the immediate area.
We had a full programme of events, including:
We represented Tudor House at the w0￿ster Show in August 2023.
During the Victorian Fayre in 2023 we welcomed 3,181 visitors.
We host regular events for the Changing Face of Worcester (weekly). Craty Friday
(fortnightly) and the newly formed Tudor Rose embroidery group {fortnightly since March 24)
Saturday talks are offered monthly and this year included J.J. Cam, Richard Cadbury
(delivered at the Friends Society House). Fashion Through Time, Tudor Costume, Women in
Politics. a talk about restoring the Tudor ceiling by the expert who carried out the work, and a
curatorfs Attic and Cellar tour
We worked with Worcester Cathedral to Introdu￿ ￿Int visits to the Cathedral and Tudor
House, to help manage visits by larger groups.
Various groups have met at the House during the year. induding the Bedfellows project which was
completed in March 2024. This project involved a number of volunteers who recreated Tudor-style
curtains and a counterpane for our Tudor-style bed. The work was covered by grants from the
National Lottery via Arts Council England and from the Elmley Foundation. The project has led to the
establishment of the newly formed Tudor Rose embroidery group. Many of the volunteers who took
part in the Bedfellows project wanted to conlinue developing their embroidery skills and support their
wellbeing through meeting regularly. The new group is meeting to create decorations for a Christrnas
tree which will form part of the annual festival hosted by WOr￿ster Cathedral and will help lo promote
the charity at the same time.
As part of advancing knowledge and understanding of the heritage of Worcester VR hold the
'Changing Face of Worcesterf collection of photographs. Volunteers continue to develop the
presentation of the pictures on our website.
We also developed our social media offering. On social media ￿￿ have collectively over 3 platft)rms
4,684 followers and post weekly on average. A highlight during the year has been to add videos to our
YouTube channel about the Bedfellows Project and a WWII schools visit, created by volunteers Sheila
Joynes and Stephen Bell.
Achievement of Accreditation is a benchmark which demonstrates the quality of our organisation and
activity. The process was suspended during Covid, and we are due to be reassessed in March 2025.
This year we have followed up recommendations from the previous accreditation to update our
collections records and policy. We have employed a part time Collections Officer to carry out this
work.
Page 5

The Worcester Herltage and Amenity Trust Llmlted
Trustees. Report
As mentioned in the previous annual report W8 continued investigating the potential to improve the
toilet and refreshment facilities at Tudor House. During the year we added proposals for a room in the
courtyard to the rear of the House, which would maximise the use of this area. It would be used for
education visits and our regular talks. enabling the House to remain fully open whilst these events
take place. We made enguirles about potential grant funding from the Heritage Lottery Fund which
involved preparing a business case, with Ihe costs based on architects, plans and Quantty Surveyor
eslimates. This will be used to support other bids for funding for the project.
At the end of the year covered by this report, the Trust worked with Worcester City Council to be
included in a list of projects to be funded by Levelling Up grant. This was put on hold pending the
General Election in July 2024 and the outcome will be induded in our next Annual Report.
Plans for the Future
The Trust plans to continue and develop its activities in the coming years subject to funding. The
following actions are planned:
Commemorate the 20th anniversary of the Trust with volunteers and stakeholders as a way
of promoting what we do and encouraging more visitors
Reaccreditation (due in early 2025)
Continue to build our audience based on the diverse ways in which we engaged with the
public during the last year
Financial sustainability
Concluding funding applicalions for the project to improve the toilet and refreshment facilities
and converting Ihe courtyard into an education space. Once funding is oblained, we will then
proceed with the project. We have identified a reserve of £50,000 towards Ihis project. which
among other things will support us applying for extemal grant as appropriate to deliver it.
Objectives and activitles
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
Page 6

The Worcester Heritage and Amenity Trust Limited
Trustees. Report
Flnancial revlew
During the year the charity made a surplus of £6,776 (2023: £5,567)
Total reserves at the year end totalled £118,864 which were all unrestricted (2023: £112,088).
Pollcy on reserves
The charlty has a reserve policy aiming to hold sufficient reserves (operation reserves) of £50,000 to
cover 12 months of basic running costs. As at 30 April 2024, the charlty also held free reseNes of
£68.864, part of this will be used to contribute towards planned projects.
Statement of trust8as' responsibilitiès
The trustees (who are also the directors of The Worcester Heritage and Amenity Trust Limited for the
purposes of company law) are responsible for preparing the trustees, report and the financial
statements in accordance with applicable law and United Kffingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting
Standard applicable in the UK and Republlc of Ireland. The report and accounts hsve been prepared
in accordance with the provisions in the Companies Act 2006 relatlng to small companles.
Company law requires the trustees to prepare finanaal statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and of the incomlng
resources and application of resources, including its income and expenditure, of the charitable
company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and princlples in the Charities SORP;
make judgements and estimates that are reasonable and prudent.,
state whether applicable accountlng standards, comprising FRS 102 have been followed, subject
to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in buslness.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any time the financial posilion of the charitable company and 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 stsps for the
prevention and detection of fraud and othar irregularlties.
The trustees are responsible for the maintenance and integrity of the corporate and financial
Information included on the charitable companls website. Leglslation governing the preparation and
dlssemination of financlal statements may differ from legislation in other jurisdictions.
Small companies provlslon statement
This report has been prepared in accordance with the small companies regime under the Companies
Act 2006.
Page 7

The Worcester Heritag8 and Amenity Trust Llmlted
Trustees. Report
The annual report was approved by the trustees of the charlty on
behalf by.
1511212024
and signed on fts
S4ttrf4 garf¢4
S Jones
Company secretary and trustee
Page 8

The Worcester Heritage and Amenity Trust Limited
Independent Examiner's Report to the trustees of The Worcester Heritage and
Amenlty Trust Limited ('the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
30 April 2024.
Responsibilities and basls of report
As the charity'5 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 requiremenls of the
Companies Act 2006 {'the 2006 Act.).
Having satisfied myself that the accounls 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 ACV).
In carrying oth my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent examiner's ststement
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:
1. accounting records were not kept in respect of The Worcester Heritage and Amenty Trust
Limited as required by section 386 of the 2006 Act.. or
2. the accounts do not accord with those records. or
3. the accounts do not comply viith the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair ¥ieW which Is not a matter
consldered as part of an independent examination. or
4. the accounts have not been prepared in accordance with the methods and princlples of the
Statement of Recommended Practice for accounting and reporting by charities lappllcable to
charities pr6parlng 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.
Catherine Williams
A DChA
Independent Examiner
Westcotts (SW} LLP
Chartered Accountants
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
Date:.l&.......
30Z
Page 9

The Worcester Heritage and Amenity Trust Limited
Statement of Financial Activities for tho Year Ended 30 April 2024
{Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestrlcted
funds
Restricted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
other trading activities
Investment income
17,210
31.277
3,593
41,740
58,950
31.277
3,593
55,112
27.883
1.038
Total income
52,080
41,740
93,820
84,033
Expenditure on:
Raising funds
Charitable activities
(16,308)
33,898)
(16,308)
(70,736)
(7,306)
(71.160)
(36,838)
Total expendlture
(50,206)
36,838
87.044
78.466
Net Income
Transfers between funds
1,874
5,824
4,902
(5,824)
6,776
5,567
Net movement In funds
7,698
(922)
6,776
5.567
Reconciliatlon of funds
Total funds brought forward
Total funds carried fO￿ard 18
111,166
922
112.088
106,521
118,864
118,864
112,088
All of the charlty's activities derive from continuing operations durlng the above ￿0 periods.
The funds breakdown for 2023 Is shown in note 18.
The notes on pages 12 to 22 form an integral part of these financial statements.
Page 10

The Worcester Heritage and Amenity Trust Limited
(Registration number: 05062948)
Balance Sheet as at 30 April 2024
2024
2023
Note
Fixed assets
Tangible assets
14
1,349
1,799
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
1,307
921
118,814
2.164
450
111.352
121,042
113.966
Credltors: Amounts falllng due within one year
17
(3.5271
(3.677)
Net current assets
117,515
110,289
Net assets
118,864
112.088
Funds of the charlty:
Restricted income funds
Restricted funds
922
Unrestrlcted income funds
Unrestricted funds
118,864
111,166
Total funds
18
118,864
112,088
For the financlal year ending 30 April 2024 the charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476: and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to
companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 10 to 22 were approved by the trustees. and authorised for issue
on15112J2Q24.... and signed on Iheir behalf by.
S Jones
Company secretary and trustee
The notes on pages 12 to 22 fomi an integral part of these financial statements.
Page11

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
1 Charlty status
The charfty Is limited by guarantee, incorporated in United Kingdom, and consequently does not have
share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the
assets of the charity in the event of liquidation.
The address of its registered Offi￿ is:
Tudor House
42 Friar Street
Worcester
WR12NA
2 Accounting policFes
Summary of significant accountlng pollcles and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These ￿lIcIeS have been consistently applied to all the years presented. unless otherwise
stated.
Statement of compliance
The financial statements havc been prepared in accordance with Accountlng and Reportlno by
Charities: Statement of Recommended Practice (applicable to charities preparlng their accounts In
accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Worcester Heritage and Amenity Trust Limited meets the definition of a public benefit entity under
FRS 102. Assets and liabilities are inttially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy notes. The accounts are prepared in sterling which
is the functional currency of the charity.
Going concern
The trustees consider Ihat there are no material uncertainties about the charitys ability to continue as
going concem nor any significant areas of uncertainty that affect the carying value of assets held by
the charity.
Income and endowments
All income is recognised once the charity has entitiement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Donatlons and legacies
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charity before the charity is entitled to the funds, the income is deferred and not
recognised until elther those condltlons are fully met, or the fulfilment of those conditions is wholly
within the control of the charity and it is probable that these conditions will be fulfilled in the reporting
period.
Page 12

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Grants racelvable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to
the grants have been met. Where perf0rrnan￿ conditions are attached to the grant and are yet to be
met, the income is recognised as a liablllty and included on the balance sheet as deferred Income to
be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend due.
Expéndlture
All expenditure is recognised once there Is a legal or constructive obligation to that expendlture, it is
probable settlement is required and Ihe amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that C8tegory. Where costs cannot
be directly attributed to particular headlngs they have been allocated on a basis consistent with the
use of resources, wlth central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Ralslng funds
These are costs Sncurred in attractlng voluntsry income, the management of investments and those
incurred in tradlng activities that ralse funds.
Charitable activities
Charitsble expenditure comprises those costs incurred by the charity in the dellvery of its activities
and services for its beneficiaries. It includes both costs that can be allocated dlrectly to such actlvlties
and those costs of an indlrect nature necessary to support them.
Support costs
Support costs Include central functlons and have been allocated to actlvlty cost categories on a basis
consistent with the use of resources, for example, allocating property costs by floor areas, or per
capita, stsff costs by the time spent and other costs by their usage.
Taxation
The charlty is considered to Pass the tests set out In Paragraph 1 Schedule 6 of the Flnance Act 2010
and therefore it meets the deflnition o! a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentl8lly exempt from taxation in respect of income or capital gains
received withSn categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxatlon of Chargeable Gains Act 1992. to the extent that such income or gains are
applled exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £2,000 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent accumulated impaimient losses.
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The Worcester Heritsge and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Depreciation and amortisatlon
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:
Asset class
Fixtures and frttlngs
Equipment
Depreciation method and rate
25°A reducing balance
250/0 reducing balance
Stock
stod( is valued at the lower of cost and estimated selling pri￿ less costs to complete and sell. after
due regard for obsolete and slow moving stocks. Cost is determined using the first-in. first-out (FIFO).
Cash and Cash equivalents
Cash and cash equivalènts comprise cash on hand and call deposits. and other short-t8rm hlghly
liquid Investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in valua.
Fund structure
Unrestricted income fiJnds are general funds that are available for use at the trustees discretion in
furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a partlcular area or for specific purposes. the
use of which is restricted to that area or purpose.
Flnancial instruments
Classlfication
Fin8ndal assets and financial liabilities 8re recognised when the charity becomes a paty to the
contractual provisions of the instrumenl.
Financial liabilities and equity instruments are dassified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Page 14

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Recognltlon and maasurement
All financial assets and liabilities are initially measured at transaction price (including transaction
costs), except for those financial assets. classified as at fair value through profit or loss, which are
initially measured at fair value (which is normally the transaction price excluding transaction costs).
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing
transaction. the financial asset or financial liability is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when. and only
when there exists a legally enforceable right to set off the recognised amounts and the charity intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, b) the charity transfers to another party substantially all
of the risks and rewards of ownership of the financial asset. or c) the charity, despite having retained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another party.
Financial liabilities are derecognised only when the obligation specified In the contract is discharged.
cancelled or expires.
3 Income from donatlons and legacles
Unrestricted
funds
General
Restrictad
funds
Total
2024
Donations and legacies;
Rental Income
Appeals and donations
Grants, Including capital grants.
Grants
7,000
10,210
7.000
10.210
41,740
41,740
17.210
41,740
58,950
Unrestricted
funds
General
Restricted
funds
Total
2023
Donations and legacies.,
Rental income
Appeals and donations
Grants, induding capital grants.
Grants
7,000
8,482
7,000
8,482
10,668
28,962
39.630
26,150
28,962
55,112
Page 15

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
4 Income from other tradlng activitiès
Unrestricted
funds
General
Total
2024
Sale of purchased goods
other Income
20.726
10,551
20,726
10,551
31,277
31,277
Unrestricted
funds
General
Total
2023
Sale of purchased goods
Other Income
17,927
9,956
17,927
9.956
27,883
27,883
S Investment income
Unrestrlcted
funds
General
Total
2024
Interest receivable and similar Income;
Interest re￿1vable on bank deposits
3,593
3,593
3,593
3,593
Unrestricted
funds
General
Total
2023
Interest receivable and similar income.
Interest receivable Dn bank deposits
1,038
1,038
1,038
1,038
Page 16

The Worcester Heritage and Amenity Trust Limited
Notes to tha Financial Statements for the Year Ended 30 Aprll 2024
6 Expendlture on raislng funds
a) Costs of trading activities
Unrestricted
funds
General
Total
2024
Costs of goods sold
16,308
16,308
16.308
16,308
Unrestricted
funds
General
Total
2023
Costs of goods sold
7,306
7.306
7,306
7,306
7 Expendlture on charitable activities
Unrestricted
funds
General
Restricted
fund8
Total
2024
Note
Charitable activities
Allocated support costs
9,220
24,678
33,898
36,838
46,058
24.678
36,838
70,736
Unrestricted
funds
General
Restricted
funds
Total
2023
Note
Charitable activities
Allocated support costs
10,532
25,177
35,451
45,983
25,177
35,709
35,451
71,160
Page 17

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
8 Analysis of support costs
Charitable activities expenditure
Unrestricted
funds
General
Total
2024
Total
2023
Premises
General Office
Finance costs
Accountancy and Independent examination fees
Depreciation
Advertlslng
Cleaning
13.104
3,838
1,419
13,104
3.838
1.419
13.963
5,300
1,168
i].,
1.153
450
1,695
3,019
1,153
450
1,695
3,019
24,678
1,048
601
722
2,375
24,678
25,177
9 Net incomlngloutgolng rnsources
Net incomlng resources for the year include:
2024
2023
Depreciation of fixed assets
450
601
10 Trustees remuneration and expenses
No trustees. nor any pensons connected with them, have received any remuneration from the charlty
during the year.
No trustees have received any reimbursed expenses or any other benefts from the charfty during the
year.
11 Staff costs
The aggregate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
35,241
675
32.423
574
35,916
32,997
Page 18

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year was as follows:
2024
No
2023
No
Museum staff
No employee received emoluments of more than £60.000 durlng the year.
12 Independent examiner's remuneration
2024
2023
Independent examination fees
1,050
970
13 Taxation
The charity is a reglstered charity and is therefore exempt from tsxation.
14 Tangibl• fixed assets
Flxtures and
flttlngs
Equlpment
Totsl
Cost
At 1 May 2023
At 30 April 2024
12.715
3,348
16,063
12,715
3,348
16,063
Dapreciation
At 1 May 2023
Charge for the year
At 30 April 2024
Net b¢)ok value
11,116
399
3,148
51
14,264
450
11,515
3.199
14,714
At 30 April 2024
1,200
149
1,349
At 30 April 2023
1,599
200
1,799
15 Stock
2024
2023
stocks
1,307
2,164
Page 19

The Worcester Heritage and Amenity Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
16 Debtors
2024
2023
Trade debtors
Other debtors
450
921
921
450
17 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals
2.011
343
130
1.043
2.270
320
117
970
3.527
3.677
18 Funds
Balance at
1May
2023
Balance at
30 April
2024
Incoming Resources
resources
expended
Transfers
Unrestricted funds
General
General Funds
Operations reseNe
61,166
50.000
111,166
52,080
(50,206)
5,824
68,864
50,000
52,080
(50,206)
5,824
118,864
Restricted funds
Bedfellows Project
Worcester Municipal
Charities
922
{922)
41,740
35,916)
(36,838)
(5.824)
(5.824)
922
41.740
Total funds
112.088
93,820
(87,044)
118.864
Page 20

The Worcester Herltage and Amenity Trust Llmited
Notes to the Financlal Statements for the Year Ended 30 April 2024
Balance at
1May
2022
Balance at
30 April
2023
Incoming Resources
resources
expended
Transfers
Unrestricted funds
General
General Funds
Operations reserve
54,811
50,000
55.071
(43,015)
(5,701)
61,166
50,000
104.811
55,071
(43,015)
(5,701)
111,166
Restricted funds
Reveal the Past
Bedfellows Project
wOr￿ster Municipal
Charities
Cafe
1,269
(1,269)
(788)
1,710
922
26,693
1,000
28.962
(32,554)
(840)
(35,451)
5,861
(160)
5,701
1,710
922
Total funds
106,521
84,033
{78,466)
112.088
The Trustees have agreed a policy of retalnlng a reserve equivalent to 12 months, basis operating
costs, to enable business continuity in the event of a signfficant reduction in income.
The speclfic purposes for which the funds are to be applied are as follows:
Bedellows Project and SOS Collectlon relate to funds received from the Arts Council for specific
projects.
Worcester Municipal Charities - to fund the Salary for the WHAT manager and Education officer. Thls
is on going.
In 2023 a transfer was made from the unrestricted genera5 reserve to the Worcester Municipal
Charities restricted reserve to cover the expenditure in excess of income. This was due to a timing
difference of when the expenditure was incurred and when the income was received. The income has
been received in the current year and so this transfer has been reversed, as this restricted reserve
should not have a balance as the income and expenditure are matched.
19 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 30 April
2024
Tangible fixed assets
Current assets
Current liabilities
1,349
121,042
3,527)
118,864
1.349
121,042
3,527
Total net assets
118,864
Page 21

The Worcester Heritage and Amenlty Trust Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Unrestrlcted
funds
General
Total funds
at 30 April
2023
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
1,799
113,044
(3.677)
111.166
1.799
113,966
3,677
922
Total net assets
922
112,088
20 Related party transactions
Margaret Panter is both a trustee of Ihe Worcester Heritage and Amenity Trust Limited and Worcester
Municipal Charities. The wOr￿ster Heritage and Amenlty Trust Limited have re￿iVed grants totalling
£41,740 (2023: £26.693) and also the rent free use of the premises and principal Offi￿ at 3842 Friar
Street from Worcester Municipal Charities.
Page 22