**Registered number: 04797256 Charity number: 1112908** 

## **WINTERBOURNE MEDIEVAL BARN TRUST** 

**(A company limited by guarantee)** 

## **UNAUDITED** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2024** 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2024** 

|**Contents**|**Pages**|
|---|---|
|Chair’s Statement|1|
|Trustees’ Annual Report|2 - 7|
|Reference and Administrative Information|8 - 9|
|Independent Examiner’s Report|10|
|Statement of Financial Activities|11|
|Balance sheet|12|
|Notes to the financial statements|13 - 21|





## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **CHAIR’S STATEMENT** 

## **YEAR ENDED 31 MARCH 2024** 

## Dear Friends, 

This year saw the continued recovery from the effects of pandemic with a full programme of events completed during the year. The varied programme has ranged from our traditional community events of Medieval Fayre and Orchard Harvest Day to small workshops, music and drama, family activities and a lecture programme. Our events have attracted a wide audience and have been a great success judging from the numbers attending and feedback received. 

Our wonderful Barn site is a testament to the work of very many volunteers and trustees over this period.  We have also had invaluable support from our staff in delivering events, developing the commercial hire side of the Trust and maintaining the buildings to a high standard. 

The commercial hire of the site for events is an essential element of our Business Plan and the 2023 season saw the most weddings we have ever had in a year with positive bookings for 2024 to 2026. There has been a lot of interest in the site as a wedding venue, with requests varying from hire for only the ceremony to full weekend weddings. We believe that the impact of Covid on commercial hire opportunities has receded. 

Rheanne Mansell joined us just before the beginning of the financial year and has had a busy year managing the site to ensure it is an attractive venue and is safe and secure, as well as developing the commercial hire aspects.  I would also like to thank Ceara Foley for all her hard work in delivering our Trust events programme last year and wish her well in her new role as our Community Events coordinator. 

The volunteers who support the site and events are invaluable and we could not operate without them.  Every event we hold depends on volunteers covering a variety of roles. We also have Barn Force and the Gardening Group who maintain the site and grounds to a high standard. 

The only change of Trustee during the financial year was the resignation of Paul Appleby as a Trustee.  Andy Peters and Sue Fox retire by rotation this year and are happy to stand for reelection. In addition, our Articles require a third of Trustees to retire each year.  Derek Andow is two years through a three year term and has agreed to retire and stand for re-election. 

We are looking forward to an exciting future as we continue with our successful Community events programme and develop our weddings and hire offerings. 

## Aue Persons 

Sue Parsons Chair 

Date: 22 August 2024 

1 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

The trustees present their annual report together with the financial statements of the charity for the year 1 April 2023 to 31 March 2024. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

## **OBJECTIVES AND ACTIVITIES** 

## **a. Policies and objectives** 

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives we have set. 

The Trust operates the site of the Winterbourne Court Farm Barn under a 25 year lease from South Gloucestershire Council (SGC) which commenced in September 2020.  SGC has agreed to waive the rent payable of £37,730 per annum under the lease on condition of the Trust meeting various obligations with regards to the operation and maintenance of the site. 

The objects of the Trust are: 

(1) To promote and undertake the conservation, management, maintenance and improvement of the site at Winterbourne Court Farm Barn to ensure that it is protected, celebrated and used as a unique historical asset for the public benefit of serving the local community and improving community cohesion now and for the future by such exclusively charitable means as the trustees shall from time to time determine; and 

(2) To advance public education by increasing the local community’s knowledge and understanding of the history and medieval architecture of Winterbourne Court Farm Barn, and its surrounding landscape by the provision of guided tours, exhibitions, talks and such other activities as the trustees shall from time to time determine. 

The trustees have reviewed and assessed the achievements of the Trust in terms of key activities and benefits and have taken the objects into account when planning future activities. 

## **b. Activities for achieving objectives** 

The Trust’s main objectives continue to be preservation of the unique 14th century Barn and promotion of knowledge of the history of its architecture, agricultural landscape and people through creation of a renowned centre which will provide for future generations: 

restoration of historic buildings to include practical workshops and courses on traditional building methods; 

- Information on the vernacular architecture of the region; 

- Provision of facilities for guided tours, exhibitions, talks, study days and school visits; 

- Centre for education on rural crafts; 

- Knowledge of the history of local food production, storage and sustainable farming methods; 

2 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

- Delivery of therapeutic horticulture; 

- Use of the barn as a centre for the local community and provision of cultural and other activities; and 

- Management of the asset to ensure that it can be maintained as befits its status. 

## **c. Volunteers** 

The Trust had two paid members of staff during the year who were assisted by around 70 volunteers. This assistance incorporated maintaining the site, planning, publicising, managing and hosting events and activities, cultivating the vegetable garden and general management. 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **a. Review of Trust-run activities** 

The annual Medieval Fayre, Heritage Open Days, Orchard Harvest Day and Carols in the Barn Community events attracted over 2,000 people this year plus another 2,000 who attended various workshops, guided tours, talks, music and drama performances. 

Fused Glass craft workshops continued to prove extremely popular as did Apple Grafting and Christmas Wreath Making. Tai Chi classes were at capacity. Wine Tasting workshops were held in both Spring and Autumn. Attendees enjoyed getting creative at the new for 2023, Metal Christmas Decorations and Make Your Own Shoulder Bag Workshops. 

Talks on various subjects have been delivered during the warmer months to audiences who had a choice of attending in person at the Barn or online through Zoom. 

Families filled the Barn to capacity on the craft activity days held at Easter, Summer, Halloween, and Twixmas. 

Shakespeare and Jazz performances drew capacity audiences and the summer children’s theatre ‘Hercules’ was very popular with families. 

3 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

Volunteers from the Trust and the adjacent St. Michael’s Church provided history talks and guided tours which highlighted the historic connection between the two buildings. 

All the above events and activities were supported by our staff and volunteers. 

## **b. Review of commercial operations** 

All four of our Byre units were occupied on 31 March 2024. Three of the units were occupied throughout the year with the remaining unit occupied for part of the year. We have welcomed two new licensees; a florist specialising in weddings and special occasions, and a bespoke handmade jewellery business. The West Barn Studio was occupied throughout the year. 

A key source of our income are hires of the Main Barn for wedding celebrations and we are starting to see it being more widely recognised as a great wedding venue. During the year seven weddings were held, the highest number we have seen in any year. In addition, we have already had over 20 bookings for weddings and large events taking place in 2024 and the following two years. 

The West Barn meeting room and the Cart shed continued to be let on an ad hoc basis throughout the year. 

## **FINANCIAL REVIEW** 

## **a. Income and Expenditure** 

The statement of financial activities for the Trust shows a deficit for the year of £6,959 (2023: deficit £4,407). 

## **b. Balance sheet** 

The balance sheet as at 31 March 2024 shows net assets of £103,526 (2022: £110,485). 

## **c. Reserve funds policy** 

The disclosure in the accounts analyses reserves between unrestricted funds, which are available for the main objects of the Trust, and restricted funds, which are only available for the purposes set down by the donor or under some other obligation.  The trustees have examined the requirements for reserves considering the main risks to the Trust. 

One of the obligations under the lease with SGC is for the Trust to apply a reasonable proportion of any surplus in each financial year into a sinking fund to provide for the expected cost of future major structural work to the site such that a minimum of £50,000 is established and maintained. Given the deficit for the year the trustees consider it was reasonable not to make any transfer from general funds into the restricted Site sinking fund in the year. 

The trustees consider that the £45,000 in the Buildings repair reserve remains a reasonable amount as a contingency against future repair and maintenance costs of the site. 

The trustees consider that £16,000 should be the minimum amount maintained by the Trust in unrestricted, undesignated funds not committed or invested in fixed assets (the free cash 

4 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

reserves).  On 31 March 2024 free cash reserves held by the charity amounted to £32,717 (2023: £34,808). 

Current free cash reserves are greater than the minimum because of sound financial management in the past and to provide an additional financial buffer whilst the Trust moves towards financial sustainability. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **a. Constitution** 

The charity is constituted under a Memorandum of Association dated 12 June 2003 (company limited by guarantee), as amended by special resolutions dated 28 May 2004 and 14 November 2005. Articles of association at Companies House on 21 December 2010, as amended by special resolution registered at Companies House on 9 December 2021 and it is a registered charity number 1112908. 

## **b. Method of appointment or election of trustees** 

The management of the charity is the responsibility of the trustees who are elected under the terms of the Articles of Association. 

Under the requirements of the Articles of Association the number of trustees shall be not less than three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum. 

At each Annual General Meeting one third of the trustees shall retire. The trustees to retire first shall be those who have been longest in office since their last appointment. Those trustees who are retiring are eligible to seek re-election. 

Members are encouraged to volunteer for a range of tasks including that of trustees; membership is open to all on payment of a modest subscription. Potential trustees are interviewed by a small panel of trustees before making a recommendation for appointment by the full trustee board. In the event of identified skills needed, the Trust will approach an appropriate agency such as CVS South Gloucestershire, VOSCUR or REACH in the quest to fill that skills gap, and a similar process is adopted before appointment. 

## **c. Policies adopted for the induction and training of trustees** 

The board of trustees strives to ensure that the trustees are informed and educated on their role and responsibilities as a charity trustee and director. 

## **d. Organisational structure and decision making** 

The board of trustees meets on a regular basis and is responsible for setting the strategic direction and policy of the charity.  The day-to-day administration of the Trust is delegated to the members of the Finance Committee and General Purposes Committee.  The Finance Committee is chaired by the Treasurer and the General Purposes Committee by the Vice Chair of Trustees. The Chair is an ex officio member of both committees. In addition to these committees there is an Events and Publicity committee. 

5 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

## **e. Risk management** 

The trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to manage our exposure to the major risks. 

## **PLANS FOR FUTURE PERIODS** 

## **a. Future developments** 

The Trust now has the required operational infrastructure to deliver on our objectives and policies. With the support of our volunteers this will enable us to continue to provide a full programme of Trust-run activities. 

Our focus going forward is to ensure that we can significantly increase our commercial hires, particularly weddings in the Main Barn, as this generates the income to support the general operation of the site. 

We remain confident that we will have a successful future ahead of us and that Winterbourne Medieval Barn will continue to be a valued community asset. 

## **MEMBERS' LIABILITY** 

The Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. 

6 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REPORT OF THE TRUSTEES** 

## **YEAR ENDED 31 MARCH 2024** 

## **Statement of trustees’ responsibilities** 

The trustees (who are also directors of Winterbourne Medieval Barn Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 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 then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards 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 business. 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position 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 steps for the prevention and detection of fraud and other irregularities. 

22 August 2024 

Signed by order of the Trustees on …………………………………… 

## Aue VA, 

Sue Parsons Chair 

7 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REFERENCE & ADMINISTRATIVE INFORMATION** 

## **YEAR ENDED 31 MARCH 2024** 

## **Status** 

The Trust is governed by its Articles of Association. It was incorporated as a company limited by guarantee, number 04797256, on 12 June 2003 and was registered with the Charity Commission in England & Wales, number 1112908 on 2 February 2006. 

## **Trustees** 

The trustees who are directors for the purpose of company law and who served during the year are: 

Sue Parsons, Chair Derek Andow, Vice Chair Andy Peters, Treasurer Paul Appleby MBE (ceased 10 November 2023) Tim Bowles Sue Fox George Kousouros Nicholas Labuschagne Rev. Malcolm Strange 

**Registered Office** Winterbourne Court Farm Barn Church Lane Winterbourne BS36 1SE **Company secretary** Rosina Pullman **President** Baroness Corston **Vice-Presidents** The Bishop of Bristol Peter Clark (ceased 11 May 2023) Professor Mark Horton Jack Lopresti Kathleen Marsh Karen Morgan OBE DL Dr Lee Prosser Hilary Severn Peter Warren 

8 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

## **REFERENCE & ADMINISTRATIVE INFORMATION** 

## **YEAR ENDED 31 MARCH 2024** 

**Independent Examiner** Joshua Kingston BSc., ACA Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR **Bankers** CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ 

9 



## **WINTERBOURNE MEDIEVAL BARN TRUST** 

## **INDEPENDENT EXAMINER’S REPORT** 

## **YEAR ENDED 31 MARCH 2024** 

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** 

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 Company 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 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 

4. 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. 

Joshua Kingston BSc., ACA Burton Sweet Limited, Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: 22 August 2024 

10 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31 MARCH 2024** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>**2**<br>Charitable activities<br>**3**<br>Other trading activities<br>**4**<br>Investment income<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**5**<br>**Total expenditure**<br>**Net income/(expenditure)**<br>**7**<br>**and net movement in funds**<br>**Total funds at start of year**<br>**16**<br>**Total funds at end of year**<br>**16**|**Unrestricted**<br>**Funds**<br>**£**<br>8,059<br>94,324<br>185<br>639<br>103,207<br>108,624<br>108,624<br>(5,417)<br>108,943<br>103,526|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>1,542<br>1,542<br>(1,542)<br>1,542<br>-|**Total Funds**<br>**2024**<br>**£**<br>8,059<br>94,324<br>185<br>639<br>103,207<br>110,166<br>110,166<br>(6,959)<br>110,485<br>103,526|Total Funds<br>2023<br>£<br>7,208<br>101,010<br>39<br>150<br>108,407<br>112,814<br>112,814<br>(4,407)<br>114,892<br>110,485|
|---|---|---|---|---|



The Charity has no recognised gains or losses other than the results for the year as set out above. 

All of the activities of the charity are classed as continuing. 

**See note 10 for fund-accounting comparative figures The notes on pages 13 to 21 form part of these financial statements** 

11 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

## **BALANCE SHEET** 

## **AS AT 31 MARCH 2024** 

|**WINTERBOURNE MEDIEVAL BARN TRUST**<br>**BALANCE SHEET**<br>**AS AT 31 MARCH 2024**|||
|---|---|---|
|**AS AT 31 MARCH 2024**||**Company number: 04797256**|
|**Note**<br>**Fixed assets**<br>Tangible assets<br>**11**<br>Intangible fixed assets<br>**12**<br>Heritage assets<br>**13**|**2024**<br>**£**<br>6,765<br>-<br>3,600|2023<br>£<br>10,535<br>-<br>3,600|
|**Current assets**<br>Debtors<br>**14**<br>Cash at bank and in hand|10,365<br>11,160<br>100,093|14,135<br>6,908<br>105,606|
|**Liabilities**<br>Creditors : amounts falling<br>due within one year<br>**15**|111,253<br>(18,092)|112,514<br>(16,164)|
|**Net current assets**<br>**Total assets less current liabilities**|93,161<br>103,526|96,350<br>110,485|
|**Net assets**|103,526|110,485|
|**FUNDS**<br>**Unrestricted funds**<br>General funds<br>**17**<br>Designated funds<br>**17**<br>**Restricted funds**<br>**17**|43,082<br>60,444<br>-|48,943<br>60,000<br>1,542|
|**Total funds**|103,526|110,485|



For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. 

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act applicable to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. 

22 August 2024 These financial statements were approved by the Trustees on …........................................ and are signed on their behalf by: 

Sue Parsons, Chair 

**The notes on pages 13 to 21 form part of these financial statements** 

12 



**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies** 

## **Accounting convention** 

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006. 

The charity is a public benefit entity as defined under FRS102. 

The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern. 

## **Income** 

Income from donations is included in income when these are receivable, except as follows: 

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; 

II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met. 

Legacies are included on a receivable basis where charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material. 

Investment income is included on a receivable basis. 

Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness. 

## **Expenditure** 

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered. 

## **Charitable Activities** 

Grants awarded are allocated to charitable activities. 

Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding. 

## **Governance costs** 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs. 

13 



**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies** _**(continued)**_ 

## **Allocation and apportionment costs** 

Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time. 

Overhead support costs have been allocated between fundraising and publicity costs, fundraising trading and charitable activities.  The apportionment has been allocated on the basis of usage and is analysed in note 6. 

## **Intangible fixed assets** 

Website development has been capitalised to the extent that it is probable that future economic benefits attributable to the website are likely which will benefit to the Trust. The asset is being amortised over its estimated useful life of 3 years. 

## **Tangible fixed assets** 

Fixed assets are held at cost less accumulated depreciation. Assets costing less than £500 are not capitalised. Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows: 

Computer equipment - over 3 years; straight line Equipment - over 5 years; straight line Other fixed assets - over 5 years; straight line 

## **Heritage assets** 

Heritage assets are held at cost at the time of acquisition. The asset balance represents the historic cost of a cider mill purchased by the Trust in 2014. The cider mill has not been depreciated due to its long economic life and high residual value, meaning any depreciation charged would not be material. One of the Trust's objectives is conservation and therefore it is the responsibility of the trustees to ensure that the condition of the charity's heritage assets does not deteriorate over time. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

14 



**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **1 Accounting policies** _**(continued)**_ 

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees. 

Further explanation of the nature and purpose of each fund is included in note 16 of the financial statements. 

## **2 Income from: Donations and legacies** 

|Current year<br>Donations<br>Grants received|**Total Funds**<br>**2024**<br>**£**<br>4,059<br>4,000<br>8,059|**Total Funds**<br>**2023**<br>**£**<br>3,008<br>4,200<br>7,208|
|---|---|---|



All income from donations and legacies was for unrestricted purposes in the current and prior year. 

## **3 Income from: Charitable activities** 

|Rental and property hire income<br>Community events<br>Membership fees|**Total Funds**<br>**2024**<br>**£**<br>44,713<br>48,996<br>615<br>94,324|Total Funds<br>2023<br>£<br>47,253<br>53,002<br>755<br>101,010|
|---|---|---|



All income from charitable activities was for unrestricted purposes in the current and prior year. 

## **4 Income from: Other trading activities** 

|Equipment hire|**Total Funds**<br>**2024**<br>**£**<br>185<br>185|Total Funds<br>2023<br>£<br>39<br>39|
|---|---|---|



All income from other trading activities was for unrestricted purposes in the current and prior year. 

15 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2024** 

## **5 Expenditure on: Charitable activities** 


**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|Support|
|Direct|Costs|Total Funds|
|Costs|(Note 6)|2024|
|£|£|£|
|Core activity|63,119|16,812|79,931|
|Events|30,235|-|30,235|
|93,354|16,812|110,166|
|Prior year|Support|
|Direct|Costs|Total Funds|
|Costs|(Note 6)|2023|
|£|£|£|
|Core activity|63,501|13,560|77,061|
|Events|35,753|-|35,753|
|99,254|13,560|112,814|

**----- End of picture text -----**<br>


In the prior year, all expenditure was for unrestricted purposes except £5,346 that was related to a restricted fund. 

## **6 Support costs** 


**----- Start of picture text -----**<br>
||||
|---|---|---|
|Total|Total|
|Support costs, included in notes 5, are as follows:|2024|2023|
|£|£|
|Depreciation|3,770|6,176|
|Administration|10,581|5,097|
|Governance costs|
|Independent examiner's fees|2,461|2,287|
|16,812|13,560|

**----- End of picture text -----**<br>


- **7 Net income/(expenditure) for the year** 

This is stated after charging: 


**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|2024|2023|
|£|£|
|Independent Examiner's remuneration|- Independent examination|2,461|2,238|
|- Over/under accrual|-|49|
|- Other services|475|504|
|Depreciation|3,770|6,176|

**----- End of picture text -----**<br>


No Trustee has been reimbursed for their out of pocket travel expenses during the current or prior year. No Trustee received any remuneration during the current or prior year. 

Aggregate donations received from Trustees, key management personnel, and other related parties was £1,082 (2023: £1,173). 

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**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2024** 

## **8 Staff costs and numbers** 

|The aggregate payroll costs were:<br>Wages & salaries<br>Social security costs<br>Employer's pension contributions|**2024**<br>**£**<br>30,943<br>-<br>444<br>31,387|2023<br>£<br>29,316<br>-<br>443<br>29,759|
|---|---|---|



No employee received emoluments of more than £60,000. 

The average head count during the reporting period was 3 (2023: 2) 

The trustees consider the key management personnel to be themselves and the venue manager. During the year, the key management personnel received total remuneration of £16,845 (2023: £18,997). 

## **9 Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **10 Statement of Financial Activities comparative figures** 

|**For the year ended 31 March 2023**<br>**Income from:**<br>Donations and legacies<br>Charitable activities<br>Other trading activities<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**Total expenditure**<br>**Net income/(expenditure)**<br>**and net movement in funds**<br>**Total funds at start of year**<br>**Total funds at end of year**|**Unrestricted**<br>**Funds**<br>**£**<br>7,208<br>101,010<br>39<br>150<br>108,407<br>107,468<br>107,468<br>939<br>108,004<br>108,943|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>5,346<br>5,346<br>(5,346)<br>6,888<br>1,542|**Total Funds**<br>**2023**<br>**£**<br>7,208<br>101,010<br>39<br>150<br>108,407<br>112,814<br>112,814<br>(4,407)<br>114,892<br>110,485|
|---|---|---|---|



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**WINTERBOURNE MEDIEVAL BARN TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **11 Tangible fixed assets** 

|**Cost or valuation**<br>At 1 April 2023<br>At 31 March 2024<br>**Depreciation**<br>At 1 April 2023<br>Charge for the year<br>At 31 March 2024<br>**Net book value**<br>At 31 March 2024<br>At 31 March 2023<br>**12 Intangible fixed assets**<br>**Cost or valuation**<br>At 1 April 2023 and 31 March 2024<br>**Depreciation**<br>At 1 April 2023 and 31 March 2024<br>**Net book value**<br>At 1 April 2023 and 31 March 2024<br>**13 Heritage assets**<br>**Cost**<br>At 1 April 2023 and 31 March 2024|**Computer**<br>**equipment**<br>**£**<br>838<br>838<br>838<br>-<br>838<br>-<br>-|**Equipment**<br>**£**<br>31,755<br>31,755<br>21,721<br>3,519<br>25,240<br>6,515<br>10,034|**Other Fixed**<br>**Assets**<br>**£**<br>1,654<br>1,654<br>1,153<br>251<br>1,404<br>250<br>501<br>**Website**<br>**development**<br>**£**<br>2,275<br>2,275<br>-<br>**2024**<br>**£**<br>3,600|**Total**<br>**£**<br>34,247<br>34,247<br>23,712<br>3,770<br>27,482<br>6,765<br>10,535<br>**Total**<br>**£**<br>2,275<br>2,275<br>-<br>2023<br>£<br>3,600|
|---|---|---|---|---|



There have been no purchases or disposals of Heritage assets in the last 5 years. 

18 



**WINTERBOURNE MEDIEVAL BARN TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2024** 

## **14 Debtors** 

|Trade debtors<br>Prepayments and accrued income<br>Tax reclaimable under gift aid<br>Other debtors<br>**15 Creditors: amounts falling due within one year**<br>Other creditors<br>Accruals and deferred income|**2024**<br>**£**<br>2,195<br>7,129<br>315<br>1,521<br>11,160<br>**2024**<br>**£**<br>4,800<br>13,292<br>18,092|2023<br>£<br>750<br>4,005<br>359<br>1,794<br>6,908<br>2023<br>£<br>5,125<br>11,039<br>16,164|
|---|---|---|



## **16 Movement in funds** 

## **For the year ended 31 March 2024** 

|**Restricted funds**<br>NLHF<br>**Unrestricted funds**<br>Designated funds<br>Buildings repair reserve<br>Site sinking fund<br>General funds<br>**Total funds**|**At 1 April**<br>**2023**<br>**£**<br>1,542<br>1,542<br>45,000<br>15,000<br>48,943<br>108,943<br>110,485|**Income**<br>**£**<br>-<br>-<br>-<br>444<br>102,763<br>103,207<br>103,207|**Expenditure**<br>**£**<br>(1,542)<br>(1,542)<br>-<br>-<br>(108,624)<br>(108,624)<br>(110,166)|**Transfers**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**At 31 March**<br>**2024**<br>**£**<br>-<br>-<br>45,000<br>15,444<br>43,082<br>103,526<br>103,526|
|---|---|---|---|---|---|



## **Restricted funds** 

National Lottery Heritage Fund (NLHF) - This represents the elements of the final funds received from the NLHF to complete the activities aspects of the refurbishment. 

## **Designated funds** 

Buildings Repair Reserve - The trustees have agreed to set aside regular sums as contingency for repairs and maintenance of the barn and site now that it is being used. 

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**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **16 Movement in funds** _**(continued)**_ 

Site sinking fund - Under the lease with SGC, the Trust is obliged to have a sinking fund to provide for the expected cost of future major structural work to the site. 

Further explanation of the nature and purpose of each fund is included in reserve funds policy section of the Trustees Annual Report on page 4. 

## **For the year ended 31 March 2023** 

|**Restricted funds**<br>NLHF<br>**Unrestricted funds**<br>Designated funds<br>Buildings repair reserve<br>Site sinking fund<br>General funds<br>**Total funds**|**At 1 April**<br>**2022**<br>**£**<br>6,888<br>6,888<br>45,000<br>10,000<br>53,004<br>108,004<br>114,892|**Income**<br>**£**<br>-<br>-<br>-<br>-<br>108,407<br>108,407<br>108,407|**Expenditure**<br>**£**<br>(5,346)<br>(5,346)<br>-<br>-<br>(107,468)<br>(107,468)<br>(112,814)|**Transfers**<br>**£**<br>-<br>-<br>-<br>5,000<br>(5,000)<br>-<br>-|**At 31 March**<br>**2023**<br>**£**<br>1,542<br>1,542<br>45,000<br>15,000<br>48,943<br>108,943<br>110,485|
|---|---|---|---|---|---|



## **17 Analysis of net assets between funds** 

|**As at 31 March 2024**<br>Tangible fixed assets<br>Heritage assets<br>Other net assets<br>**As at 31 March 2023**<br>Tangible fixed assets<br>Heritage assets<br>Other net assets|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>1,542<br>1,542|**Unrestricted**<br>**Designated**<br>**Funds**<br>**£**<br>-<br>-<br>60,444<br>60,444<br>**Unrestricted**<br>**Designated**<br>**Funds**<br>**£**<br>-<br>-<br>60,000<br>60,000|**Unrestricted**<br>**General**<br>**Funds**<br>**£**<br>6,765<br>3,600<br>32,717<br>43,082<br>**Unrestricted**<br>**General**<br>**Funds**<br>**£**<br>10,535<br>3,600<br>34,808<br>48,943|**Total**<br>**£**<br>6,765<br>3,600<br>93,161<br>103,526<br>**Total**<br>**£**<br>10,535<br>3,600<br>96,350<br>110,485|
|---|---|---|---|---|



20 



**WINTERBOURNE MEDIEVAL BARN TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** 

## **18 Related party transactions** 

During the year the daughter of Andy Peters paid £150 (2023:£600) (being the normal hire rate) for the hire of the Main Barn for a wedding ceremony in July 2023.  There were no other transactions with trustees or other related parties other than those disclosed elsewhere in the financial statements. 

21