2023-03-31-accounts - Castleford Heritage Trust

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Charity number 1116099

Castleford Heritage Trust

A company limited by guarantee number 05009303

Annual Report and Financial Statements

for the year ended 31 March 2023

Castleford Heritage Trust

Annual Report and Financial Statements for the year ended 31 March 2023

Contents	Page
Trustees' report	2 to 5
Examiner's report	6
Statement of financial activities	7
Balance sheet	8
Notes to the accounts	9 to 15

Prepared by West Yorkshire Community Accountancy Service CIO

Castleford Heritage Trust

Trustees' report for the year ended 31 March 2023

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: Name Position Dates Jane Walton Chair John Morrison Treasurer Tony Wallis Vice-Chair Mark Burns-Williamson David Wilders Meg Andrews John Munday Mandi Wilson Resigned 13 September 2022 Karen Tait Appointed 12 April 2022 Charity number 1116099 Registered in England and Wales Company number 05009303 Registered in England and Wales Registered and principal address Bankers Queens Mill Lloyds TSB Aire Street Westgate Castleford Wakefield WF10 1JL WF1 1JZ

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.

Castleford Heritage Trust

Trustees' report (continued) for the year ended 31 March 2023

Objectives and activities

The charity's objects

The advancement of public education in the history of Castleford and the surrounding districts, including the support of local regeneration projects.

During the year the trustees investigated broadening the objects. The proposed objects have been accepted in principle by the Charity Commission.

On 14 March 2023 the Membership of the Charity voted to accept the proposed changes to the Charitable Objects, as recommended by the Charity Commission. The new objects are:

The advancement of public education in the history of Castleford and the surrounding districts, including the support of local regeneration projects.

To further or benefit the residents of Castleford and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation, with the objective of improving the conditions of life for the residents.

These new objects are in the process of being lodged with Companies House and the Charity Commission.

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.

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

The Trust has continued to deliver our charitable activities for the local community. In the early part of the year we ran a UKCRF funded project to offer workshops and volunteering opportunities for people wanting to reenter the employment market. In September we began our National Lottery three year Community Fund project, ‘The Castleford Together Project’, which offers a range of free workshops, events and activities for the local community. Our Help at The Hubs work continues, supporting people to access food voucher provision, and offering space to Citizens Advice to carry out advice sessions.

We have recruited a number of new staff to deliver these activities, as well as the core management of the Trust.

We have also continued to develop plans for the Courtyard project and have been successful in securing major capital funding through the Towns Deal programme. Both these projects will enable the Trust to raise further unrestricted income to support the on-going maintenance and overhead costs of the mill site and the charity.

Queen’s Mill continues to host a wide range of community events and offers rental space for private parties and celebrations. We currently have 11 tenants, and all our existing rental space is fully occupied.

Financial review

The net income for the year was £74,259, including net expenditure of £29,243 on unrestricted funds and net income of £103,502 on restricted funds after transfers.

Castleford Heritage Trust

Trustees' report (continued) for the year ended 31 March 2023

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £8,995.

This figure takes into account the long term liabilities of £31,111 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.

Castleford Heritage Trust Trustees' report (continued) for the year ended 31 March 2023

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.

Approved by the board of trustees on …………..……...…….

Signed: ………………..…………. (Trustee)

Name: ……………..…..………….

Castleford Heritage Trust

Independent examiner's 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 2023, which are set out on pages 7 to 15.

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

Since the charitable company's gross income exceeded £250,000 your examiner must be a fellow of a body listed in section 145 of the 2011 Act.

I confirm that I am qualified to undertake the examination because I am a fellow of ACCA which is one of the listed bodies.

For part of the year WYCAS conducted the bookkeeping for this client as well as completing the independent examination for the charity.

The following criteria are met:

1) the independent examiner is a member of an approved body that has applied the FRC's Revised Ethical Standard;

2) there is documentary evidence in respect of the bookkeeping arrangements that the trustees were "informed management" and have made such judgements and decisions that are needed in relation to the presentation and disclsure of information in the financial statements;

3) the independent examiner was not the book-keeper nor does the examiner report directly to the bookkeeper.

I have completed my examination. I confirm that no 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.

Signed: …………………………………… Name: E J Beverley FCCA

Date: …………………….

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds, LS10 2QW

Castleford Heritage Trust

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2023

Notes 2023 Unrestricted funds £ Income from: Grants and donations (2) 13,268 Sales and fees 9,634 Fundraising 2,047 Memberships 308 Room, studio, facilities hire 87,376 Miscellaneous income 50 Interest received 5 Total income 112,688 Expenditure on: Salaries, national insurance and pensions (3) 38,425 Payroll costs 1,255 Freelance worker - Travel and subsistence 162 Professional development 224 Events and activities 490 Phone, internet and postage 7,328 General consumables 503 Printing and stationery 1,615 Advertising and publicity - Repairs, renewals and maintenance 11,543 Insurance 9,588 Accountancy and independent examination 1,848 Professional fees 4,377 Bank charges 283 Sundry 536 Depreciation 16,093 Utilities 41,551 Cost of sales 4,066 Subscriptions 582 Equipment - Loan interest 958 New website - Total expenditure 141,427 Net income / (expenditure) (28,739) Transfers between funds (504) Net movement in funds (29,243) Fund balances brought forward 460,281 Fund balances carried forward (4) 431,038	2023 Restricted funds £ 157,511 - - - - - - 157,511 34,280 - 2,006 382 - 1,555 - 4 12 208 418 - - 4,662 - - - 5,967 - 144 - - 4,875 54,513 102,998 504 103,502 71,649 175,151	2023 Total funds £ 170,779 9,634 2,047 308 87,376 50 5 270,199 72,705 1,255 2,006 544 224 2,045 7,328 507 1,627 208 11,961 9,588 1,848 9,039 283 536 16,093 47,518 4,066 726 - 958 4,875 195,940 74,259 - 74,259 531,930 606,189	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

All incoming resources and resources expended derive from continuing activities.

Castleford Heritage Trust

Balance sheet

as at 31 March 2023 2023 Unrestricted £ Fixed assets Tangible assets (5) 422,043 Total fixed assets 422,043 Current assets Stock - Debtors and prepayments (6) 37,690 Cash at bank and in hand (7) 14,795 Total current assets 52,485 Current liabilities: amounts falling due within one year Creditors and accruals (8) 12,379 Total current liabilities 12,379 Net current assets / (liabilities) 40,106 Total assets less current liabilities 462,149 Creditors: amounts falling due after one year (9) 31,111 Net assets 431,038 Funds Unrestricted funds 431,038 Restricted funds - Total funds 431,038	2023 Restricted £ - - - - 175,151 175,151 - 175,151 175,151 - 175,151 - 175,151 175,151	2023 Total £ 422,043 422,043 - 37,690 189,946 227,636 12,379 12,379 215,257 637,300 31,111 606,189 431,038 175,151 606,189	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

For the year ending 31 March 2023 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 …………..……...…….

Signed: ……………...………….…. (Trustee)

Name: ……………..…..………….

Notes to the accounts

Castleford Heritage Trust

for the year ended 31 March 2023

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, if 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

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.

Castleford Heritage Trust

Notes to the accounts

for the year ended 31 March 2023

1 Accounting policies continued

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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.

Castleford Heritage Trust

Notes to the accounts continued

for the year ended 31 March 2023

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 WMDC UK Community Renewal Fund (UK CRF) The National Lottery (TNL) Loan amount written off Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions	2023 Unrestricted funds £ - - - - - 10,050 - - 2,000 - - - 1,218 13,268	2023 Restricted funds £ - - - - - - - - 90000 10040 57,375 - 96 157,511	2023 Total funds £ - - - - - 10050 - - 92000 10040 57,375 - 1,314 170,779 2023 £ 72,089 2,025 (2,025) 616 72,705	2022 Total funds £ 48500 15479 2667 560 400 9600 3000 2030 - - - 57,500 1,647 141,383 2022 £ 70,972 1,998 (1,998) 253 71,225

The average number of employees during the year was 7.3, being an average of 3.4 full time equivalent (2022: 8.5, 3.2 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme	2023	2022
	£	£
Costs of the scheme to the charity for the year	616	253

Castleford Heritage Trust

Notes to the accounts continued for the year ended 31 March 2023

4 Restricted funds Balance b/f £ 33,649 Wheel of Light 3,000 WMDC - Connecting communitie 6,974 WMDC - Lets get cooking 104 WMDC - Website 5,000 WMDC - heritage day 1,314 WDHCS 782 The National Lottery 414 Power to Change 1,792 Nova - courtyard 18,620 TNL - Reaching Communities - WMDC - Towns Deal - UK CRF - 71,649 WMDC - Water wheel	Incoming £ 96 - - - - - - - - - 57,375 90,000 10,040 157,511	Outgoing £ 943 - 6,834 - 4,875 - - - - 3,210 28,107 - 10,544 54,513	Transfers £ - - - - - - - - - - - - 504 504	Balance c/f £ 32,802 3,000 140 104 125 1,314 782 414 1,792 15,410 29,268 90,000 - 175,151

Fund name Purpose of restriction WMDC - Water wheel

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).

Wheel of Light Sensory equipment for learning space (once developed). WMDC - Connecting communitie To run events and classes for the older generation to tackle loneliness and encourage friendships and participation. The transfer relates to room usage charges.

WMDC - Lets get cooking Towards a project about cooking healthy nutritional meals. WMDC - Website Towards improving the website. WMDC - heritage day Towards a heritage day. WDHCS For expenses relating to Covid-19. The National Lottery Towards digital equipment. The transfer relates to the purchase of walkie talkies which have been capitalised.

Power to Change Towards digital equipment. The transfer relates to the purchase of CCTV which has been capitalised. Nova - courtyard Support Hub funding to cover the cost of groundworks for the Courtyard project.

TNL - Reaching Communities Delivering and supporting a wide range of community provision that supports community wellbeing and will be increasingly more accessible and inclusive, actively engaging with the diversity in our communities and dismantling barriers to involvement. WMDC - Towns Deal For the improvement of Queens Mill UK CRF Our project aims to enable people to gain confidence and new skills which will help them move nearer to employment.

The transfer relates to unrestricted funds moved to cover the costs of the project.

Castleford Heritage Trust

Notes to the accounts continued

for the year ended 31 March 2023

5 6 7 8 9	Tangible assets Cost £ At 1 April 2022 17,069 Additions 5,880 At 31 March 2023 22,949 Depreciation At 1 April 2022 11,290 Charge for year 4,275 At 31 March 2023 15,565 Net book value At 31 March 2023 7,384 At 31 March 2022 5,779 Debtors and prepayments Debtors Prepayments Accrued income Other debtors Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Bank loans and overdrafts Creditors Accruals Deferred income (see note below for analysis) Other creditors Creditors: amounts falling due after one year Bank loans Equipment	£ 479,056 - 479,056 60,021 9,582 69,603 409,453 419,035 Property	£ 33,379 - 33,379 25,937 2,236 28,173 5,206 7,442 2023 £ 18,109 2,125 7,333 10,123 37,690 2023 £ 189,888 58 189,946 2023 £ 4,719 466 6,429 765 - 12,379 2023 £ 31,111 31,111 Fixtures and Fittings	Total £ 529,504 5,880 535,384 97,248 16,093 113,341 422,043 432,256 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 2022 £ 35,778 35,778

Castleford Heritage Trust

Notes to the accounts continued for the year ended 31 March 2023

10 Security over assets

The Council of the City of Wakefield have a charge in place on Queens Mill dated 9 March 2023 in relation to the grant funding for the improvements to Queens Mill over the period from 9th March 2023 to 31 December 2025.

11 Deferred income Invoice for cleaning costs Sales invoices Item name Reason for deferral Invoice for cleaning costs Sales invoices April costs invoiced in March April activities invoiced in March	Deferred to next year £ - 765 765	Released from last year £ 130 - 130

12 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 total employee benefits received by key management personnel were £13,506 (previous year: £12,233).

13 Operating leases

Within one year In the second to fifth years inclusive 14 Funds held as agent Balance b/f Incoming £ £ Castleford Town Centre Partnership - 3,576 - 3,576 Fund name Additional information Castleford Town Centre Partnership For Castleford in Bloom Expected future minimum lease payments over the remaining life of the lease, analysed into the period in which the commitment falls due:	2023 £ 432 324 756 Outgoing £ 3,523 3,523	2022 £ 432 756 1,188 Balance c/f £ 53 53

Castleford Heritage Trust

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2023

2023 2022 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 13,268 91,731 Sales and fees 9,634 6,368 Fundraising 2,047 720 Memberships 308 259 Room, studio, facilities hire 87,376 72,917 Miscellaneous income 50 296 Interest received 5 5 Total income 112,688 172,296 Expenditure Salaries, NICs and pensions 38,425 26,564 Payroll costs 1,255 1,456 Freelance worker - - Travel and subsistence 162 30 Professional development 224 648 Events and activities 490 641 Phone, internet and postage 7,328 3,233 General consumables 503 76 Printing and stationery 1,615 1,231 Advertising and publicity - - Repairs, renewals and maintenance 11,543 16,851 Insurance 9,588 8,899 Accountancy and independent exam 1,848 1,320 Professional fees 4,377 1,648 Bank charges 283 202 Sundry 536 2,077 Depreciation 16,093 15,687 Utilities 41,551 25,966 Cost of sales 4,066 2,824 Subscriptions 582 522 Equipment - 600 Loan interest 958 1,479 New website - - Total expenditure 141,427 111,954 Net income / (expenditure) (28,739) 60,342 Transfers between funds (504) 8,316 Net movement in funds (29,243) 68,658 Fund balances brought forward 460,281 391,623 Fund balances carried forward 431,038 460,281	2023 Restricted funds £ 157,511 - - - - - - 157,511 34,280 - 2,006 382 - 1,555 - 4 12 208 418 - - 4,662 - - - 5,967 - 144 - - 4,875 54,513 102,998 504 103,502 71,649 175,151	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	2023 Total funds £ 170,779 9,634 2,047 308 87,376 50 5 270,199 72,705 1,255 2,006 544 224 2,045 7,328 507 1,627 208 11,961 9,588 1,848 9,039 283 536 16,093 47,518 4,066 726 - 958 4,875 195,940 74,259 - 74,259 531,930 606,189	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