Castleford Heritage Trust
Charity number 1116099
A company limited by guarantee number 05009303
Annual Report and Financial Statements
for the year ended 31 March 2022
Castleford Heritage Trust
Annual Report and Financial Statements for the year ended 31 March 2022
| Contents | Page |
|---|---|
| Trustees' report | 2 to 4 |
| Examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 to 14 |
Prepared by West Yorkshire Community Accountancy Service CIO
1
Castleford Heritage Trust
Trustees' report for the year ended 31 March 2022
Reference and administrative details of the charity, its trustees and advisors
| The trustees during the financial year and up to and including the date the report was approved were: | The trustees during the financial year and up to and including the date the report was approved were: | The trustees during the financial year and up to and including the date the report was approved were: |
|---|---|---|
| Name | Position | Dates |
| Jane Walton | Chair | |
| John Morrison | Treasurer | |
| Tony Wallis | Vice-Chair | |
| Mark Burns-Williamson | ||
| David Wilders | ||
| Meg Andrews | ||
| John Munday | ||
| Keith Emerick | Resigned 7 February 2022 | |
| Mandi Wilson | ||
| Karen Tait | Appointed 12 April 2022 | |
| Charity number | 1116099 | Registered in England and W |
| Company number | 05009303 | Registered in England and W |
| Registered and principal address | Bankers | |
| Queens Mill | Lloyds TSB | |
| Aire Street | Westgate | |
| Castleford | Wakefield | |
| WF10 1JL | WF1 1JZ |
Registered in England and Wales Registered in England and Wales
Independent examiner
E J Beverley FCCA Stringer House 34 Lupton Street Leeds LS10 2QW
West Yorkshire Community Accountancy Service CIO
Structure, governance and management
The charity is a company limited by guarantee and was formed on 7 January 2004. It is governed by a memorandum and articles of association amended on 7 June 2005 and 4 September 2006. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.
Method of recruitment and appointment of trustees
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
Objectives and activities
The charity's objects
The advancement of public education in the history of Castleford and the surrounding districts.
2
Castleford Heritage Trust
Trustees' report (continued) for the year ended 31 March 2022
Objectives and activities (continued)
The charity's main activities
Castleford Heritage Trust facilitates and enables community activities, learning and development for the benefit of local people and visitors. We use our heritage and culture as a vehicle for promoting regeneration and to assist and strengthen local communities. Based at Queen’s Mill, the Trust is a recognised established Community Anchor for Castleford and is part of the wider Community Anchors Network to benefit the people of Castleford and wider district.
Keeping in mind our aims and objectives, trustees continued to meet monthly and held one strategic planning meeting. All CHT progress, concerns, achievements and financial matters were reported, monitored and examined at trustee meetings.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of public education.
Achievements and performance
We have been able to re-introduce face to face activities and events, as Covid restrictions have eased throughout the year. We have continued to deliver community activities for older people through our Connecting Communities project, and have returned to the Independent Living Schemes. We have remained a Help at the Hubs venue, supporting local people to access voucher schemes and hosting the Citizen’s Advice bureau on a weekly basis. We continue to receive room bookings for social and business events, and all our lettable spaces remain occupied.
Financial review
The net income for the year was £52,916, including net income of £68,658 on unrestricted funds and net expenditure of £15,742 on restricted funds after transfers.
At the time of signing these accounts the charity has been impacted by the global Covid-19 virus. The trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that no material uncertainties exist that cast significant doubt on the charity’s ability to continue as a going concern.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £28,025. This figure takes into account the long term liabilities of £35,778 which relate to a Bounce Back loan repayable over the next 9 years.
The trustees are confident that the long term liabilities will be covered by rental income in the period the liabilities fall due and therefore when considering the reserves of the charity also monitor the net current assets figure.
The Trustees of CHT will ensure that the unrestricted reserves held as at the year end Balance Sheet date will provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future.
The trustees propose to maintain the charity’s unrestricted reserves at a level which is at least equivalent to six months normal annual operational expenditure having regards to its manner of operation and its contractually secured rental funding streams.
The trustees review the amount of reserves held at the quarterly balance sheet date that are required to ensure that they are adequate to fulfil the charity’s continuing obligations on a quarterly basis at their Board meeting.
3
Castleford Heritage Trust
Trustees' report (continued) for the year ended 31 March 2022
Statement of trustees' responsibilities
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and 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;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Signed on behalf of the board of trustees on 20/10/2022
John Morrison (Trustee)
4
Castleford Heritage Trust
Independent examiner's qualified report to the trustees of Castleford
Heritage Trust
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022, which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity's trustees of the charitable 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 charitable 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 ('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 - matter of concern identified
I have completed my examination. I have identified a matter of concern in my report because I have concerns that there has been material expenditure or action which appears not to be in accordance with the trusts of the charity.
The charity has received restricted funding which it has spent in accordance with the terms of that funding, however the purpose of that funding was wider than the charities current objects, incorporating social and educational work and support in the community. The community has always been at the heart of the charity, its original objects focusing on education in history and heritage but the activites have expanded, especially during the pandemic, to include social and welfare activities which currently fall outside the original objects. The charity is now in the process of setting new objects to incorporate the additional activities into its existing objects.
I confirm that no other material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
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.
E J Beverley FCCA
06/12/2022
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
5
Castleford Heritage Trust
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2022
| Notes 2022 Unrestricted funds £ Income from: Grants and donations (2) 91,731 Sales and fees 6,368 Fundraising 720 Memberships 259 Room, studio, facilities hire 72,917 Miscellaneous income 296 Interest received 5 Total income 172,296 Expenditure on: Salaries, national insurance and pensions (3) 26,564 Payroll costs 1,456 Freelance worker - Travel and subsistence 30 Professional development 648 Events and activities 641 Phone, internet and postage 3,233 General consumables 76 Printing and stationery 1,231 Repairs, renewals and maintenance 16,851 Insurance 8,899 Accountancy and independent examination 1,320 Professional fees 1,648 Bank charges 202 Sundry 2,077 Depreciation 15,687 Utilities 25,966 Cost of sales 2,824 Subscriptions 522 Equipment 600 Loan interest 1,479 Total expenditure 111,954 Net income / (expenditure) 60,342 Transfers between funds 8,316 Net movement in funds 68,658 Fund balances brought forward 391,623 Fund balances carried forward (4) 460,281 |
2022 Restricted funds £ 49,652 - - - - - - 49,652 44,661 - - 88 - 4,496 5 236 416 4,293 - - 670 - 941 - - - 224 1,048 - 57,078 (7,426) (8,316) (15,742) 87,391 71,649 |
2022 Total funds £ 141,383 6,368 720 259 72,917 296 5 221,948 71,225 1,456 - 118 648 5,137 3,238 312 1,647 21,144 8,899 1,320 2,318 202 3,018 15,687 25,966 2,824 746 1,648 1,479 169,032 52,916 - 52,916 479,014 531,930 |
2021 Total funds £ 157,090 5,633 - 206 57,190 94 - 220,213 58,941 1,226 1,500 945 - 763 2,055 223 1,928 13,761 5,908 1,320 468 199 230 14,547 17,466 1,204 82 233 1,477 124,476 95,737 - 95,737 383,277 479,014 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
6
Castleford Heritage Trust
Balance sheet
| as at 31 March 2022 2022 Unrestricted £ Fixed assets Tangible assets (5) 432,256 Total fixed assets 432,256 Current assets Debtors and prepayments (6) 9,790 Cash at bank and in hand (7) 121,477 Total current assets 131,267 Current liabilities: amounts falling due within one year Creditors and accruals (8) 67,464 Total current liabilities 67,464 Net current assets / (liabilities) 63,803 Total assets less current liabilities 496,059 Creditors: amounts falling due after one year (9) 35,778 Net assets 460,281 Funds Unrestricted funds 460,281 Restricted funds - Total funds 460,281 |
2022 Restricted £ - - - 71,649 71,649 - 71,649 71,649 - 71,649 - 71,649 71,649 |
2022 Total £ 432,256 432,256 9,790 193,126 202,916 67,464 67,464 135,452 567,708 35,778 531,930 460,281 71,649 531,930 |
2021 Total £ 439,436 439,436 3,997 198,654 202,651 10,011 10,011 192,640 632,076 153,062 479,014 391,623 87,391 479,014 |
|---|---|---|---|
For the year ending 31 March 2022 the charitable 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 charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).
The financial statements were approved by the board of trustees on 20/10/2022
John Morrison (Trustee)
7
Castleford Heritage Trust
Notes to the accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared 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) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Donated goods for resale are valued at the amount actually realised upon their sale.
Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Freehold land and buildings: over 50 years Fixtures and fittings: over 6 years Computer equipment: over 3 years Equipment: over 4 years
8
Castleford Heritage Trust
Notes to the accounts
for the year ended 31 March 2022
1 Accounting policies continued
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
Leases
Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.
9
Castleford Heritage Trust
Notes to the accounts continued
for the year ended 31 March 2022
| 2 Grants and donations WMDC - Connecting communities WMDC - loss of income WMDC - covid business grant WMDC - heritage day WMDC - Wordfest Nova - help at the hubs Nova - Response support grant Nova and Featherstone Rovers Nova - courtyard Power to Change The National Lottery Business Interruption grant Loan amount written off Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions Wakefield and District Health and Community Support (WDHCS) |
2022 Unrestricted funds £ - 15,479 2,667 - - 9,600 3,000 2,030 - - - - - 57,500 1,455 91,731 |
2022 Restricted funds £ 48,500 - - 560 400 - - - - - - - - - 192 49,652 |
2022 Total funds £ 48,500 15,479 2,667 560 400 9,600 3,000 2,030 - - - - - 57,500 1,647 141,383 2022 £ 70,972 1,998 (1,998) 253 71,225 |
2021 Total funds £ 48,000 13,956 46,000 1,234 - 4,800 1,500 - 19,000 10,000 10,000 350 1,000 - 1,250 157,090 2021 £ 58,743 1,822 (1,822) 198 58,941 |
|---|---|---|---|---|
| The average number of employees during the year was 8.5, being an average of 3.2 full time equivalent | The average number of employees during the year was 8.5, being an average of 3.2 full time equivalent | |
|---|---|---|
| (2021: 7.1, 3.1 FTE). There were no employees with emoluments above £60,000. | ||
| Defined contribution pension scheme | 2022 | 2021 |
| £ | £ | |
| Costs of the scheme to the charity for the year | 253 | 198 |
10
Castleford Heritage Trust
Notes to the accounts continued for the year ended 31 March 2022
| 4 Restricted funds Wheel of Light WMDC - Connecting communities WMDC - Lets get cooking WMDC - Website WMDC - heritage day WDHCS The National Lottery Power to Change Nova - courtyard WMDC - Wordfest WMDC - Water wheel |
Balance b/f £ 35,747 3,000 12,381 104 5,000 1,156 782 2,423 7,798 19,000 - 87,391 |
Incoming £ 192 - 48,500 - - 560 - - - - 400 49,652 |
Outgoing £ 2,290 - 49,108 - - 402 - 1,312 3,186 380 400 57,078 |
Transfers £ - - (4,799) - - - - (697) (2,820) - - (8,316) |
Balance c/f £ 33,649 3,000 6,974 104 5,000 1,314 782 414 1,792 18,620 - 71,649 |
|---|---|---|---|---|---|
Fund name
Purpose of restriction
WMDC - Water wheel
Wheel of Light WMDC - Connecting communities
WMDC - Lets get cooking WMDC - Website WMDC - heritage day WDHCS The National Lottery
Power to Change
Nova - courtyard
WMDC - Wordfest
Match funding towards the restoration of Queens Mill to ensure the restoration can be completed and complementary skills/training and educational outcomes achieved.
Sensory equipment for learning space (once developed).
To run events and classes for the older generation to tackle loneliness and encourage friendships and participation. The transfer relates to room usage charges.
Towards a project about cooking healthy nutritional meals. Towards improving the website.
Towards a heritage day.
For expenses relating to Covid-19.
Towards digital equipment. The transfer relates to the purchase of walkie talkies which have been capitalised.
Towards digital equipment. The transfer relates to the purchase of CCTV which has been capitalised. Support Hub funding to cover the cost of groundworks for the Courtyard project.
To run a Wordfest event in October 2021.
11
Castleford Heritage Trust
Notes to the accounts continued
for the year ended 31 March 2022
| **5 ** | Tangible assets Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
£ 16,372 697 17,069 8,485 2,805 11,290 5,779 7,887 Equipment |
£ 479,056 - 479,056 50,439 9,582 60,021 419,035 428,617 Property |
£ 25,569 7,810 33,379 22,637 3,300 25,937 7,442 2,932 Fixtures and Fittings |
Total £ 520,997 8,507 529,504 81,561 15,687 97,248 432,256 439,436 |
|---|---|---|---|---|---|
Security over assets
A loan of £115,000 was made to the charity by Alison Drake, chair of the trustees on 19 April 2013. The loan is secured on the property owned by the charity by a legal charge.
Following the death of Alison Drake the loan transferred to the beneficiaries of her will. During the year 50% of the loan was written off, the balance of the loan remains repayable April 2022.
| 6 Debtors and prepayments Trade debtors Prepayments Accrued income Other debtors 7 Cash at bank and in hand Cash at bank Cash in hand 8 Creditors and accruals Bank loans and overdrafts Trade creditors Accruals Deferred income (see note below for analysis) Other creditors |
2022 £ 5,316 1,895 60 2,519 9,790 2022 £ 192,401 725 193,126 2022 £ 4,666 1,359 3,809 130 57,500 67,464 |
2021 £ 1,199 1,022 - 1,776 3,997 2021 £ 198,513 141 198,654 2021 £ 2,800 4,001 3,210 - - 10,011 |
|---|---|---|
12
Castleford Heritage Trust
Notes to the accounts continued
for the year ended 31 March 2022
| 9 Creditors: amounts falling due after one year Bank loans Other creditors Deferred income Invoice for cleaning costs Item name Reason for deferral Invoice for cleaning costs April costs invoiced in March |
2022 £ 35,778 - 35,778 Released from last year £ - - |
2021 £ 39,200 113,862 153,062 Deferred to next year £ 130 130 |
|---|---|---|
10 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
Remuneration and benefits received by key management personnel
The key management personnel of the charity include the trustees and Chief Officer. The total employee benefits received were £12,233 (previous year: £10,960).
No trustee received any remuneration or benefit in this capacity during this or the previous year.
11 Operating leases
| Within one year In the second to fifth years inclusive Expected future minimum lease payments over the remaining life of the lease, analysed into the period in which the commitment falls due: |
2022 £ 432 756 1,188 |
2021 £ 432 1,189 1,621 |
|---|---|---|
13
Castleford Heritage Trust
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2022
| 2022 2021 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 91,731 67,298 Sales and fees 6,368 5,633 Fundraising 720 - Memberships 259 206 Room, studio, facilities hire 72,917 57,190 Miscellaneous income 296 94 Interest received 5 - Total income 172,296 130,421 Expenditure Salaries, national insurance and pens 26,564 20,230 Payroll costs 1,456 1,226 Freelance worker - - Travel and subsistence 30 314 Professional development 648 - Events and activities 641 400 Phone, internet and postage 3,233 1,807 General consumables 76 195 Printing and stationery 1,231 1,761 Repairs, renewals and maintenance 16,851 10,985 Insurance 8,899 5,908 Accountancy and independent exam 1,320 1,320 Professional fees 1,648 468 Bank charges 202 199 Sundry 2,077 230 Depreciation 15,687 14,547 Utilities 25,966 14,466 Cost of sales 2,824 1,204 Subscriptions 522 82 Equipment 600 95 Loan interest 1,479 1,127 Total expenditure 111,954 76,564 Net income / (expenditure) 60,342 53,857 Transfers between funds 8,316 10,080 Net movement in funds 68,658 63,937 Fund balances brought forward 391,623 327,686 Fund balances carried forward 460,281 391,623 |
2022 Restricted funds £ 49,652 - - - - - - 49,652 44,661 - - 88 - 4,496 5 236 416 4,293 - - 670 - 941 - - - 224 1,048 - 57,078 (7,426) (8,316) (15,742) 87,391 71,649 |
2021 Restricted funds £ 89,792 - - - - - - 89,792 38,711 - 1,500 631 - 363 248 28 167 2,776 - - - - - - 3,000 - - 138 350 47,912 41,880 (10,080) 31,800 55,591 87,391 |
2022 Total funds £ 141,383 6,368 720 259 72,917 296 5 221,948 71,225 1,456 - 118 648 5,137 3,238 312 1,647 21,144 8,899 1,320 2,318 202 3,018 15,687 25,966 2,824 746 1,648 1,479 169,032 52,916 - 52,916 479,014 531,930 |
2021 Total funds £ 157,090 5,633 - 206 57,190 94 - 220,213 58,941 1,226 1,500 945 - 763 2,055 223 1,928 13,761 5,908 1,320 468 199 230 14,547 17,466 1,204 82 233 1,477 124,476 95,737 - 95,737 383,277 479,014 |
|---|---|---|---|---|
14