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2020-07-31-accounts

REGISTERED COMPANY NUMBER: 06299935 (England and Wales) REGISTERED CHARITY NUMBER: 1120875

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2020

for

The Dronfield Heritage Trust

C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE

The Dronfield Heritage Trust

Contents of the Financial Statements for the Year Ended 31 July 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5 to 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17

The Dronfield Heritage Trust

Report of the Trustees for the Year Ended 31 July 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Objectives and aims of the Charity are:

  1. To preserve for the benefit of the people of North Derbyshire and of the Nation, the architectural and constructional heritage that may exist in and around North Derbyshire in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest, and/or

  2. To further benefit the residents of North Derbyshire 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 leisure time occupation with the objective of improving conditions of life for the residents.

Significant activities

The main source of income (after the completion of capital works) is rentals from the building and fees paid for those participating in events and activities.

Volunteers

The Charity is assisted by volunteers who are responsible for implementing the plans of the project management group and the trustees.

FINANCIAL REVIEW

Investment policy and objectives

Under the memorandum and Articles of Association, the Charity has the power to invest in any way the Trustees wish.

The Trustees operate a deposit account which interacts with the current account whilst producing an interest return on surplus funds.

Reserves policy

The Trustees have established the level of reserves that the Charity ought to have. Reserves are needed to bridge funding gaps should there be a shortfall in external users.

The Trustees consider that the level of reserves required excluding fixed assets to be £20,000 . The actual level of reserves at 31st July 2020 was £378,763 (2019 - £353,366).

FUTURE PLANS

The buildings comprising the medieval barn and landscapes are now open to the public and have begun to generate income from various sources.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

It is registered as a Charity with the Charities Commission. Membership of the Company must be approved by the Board of Trustees. Each person who wishes to become a member shall deliver to the Company an application for membership in such form as the board require executed by them.

Page 1

The Dronfield Heritage Trust

Report of the Trustees for the Year Ended 31 July 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The Charity must have a minimum of 4 trustees to be quorate. The permitted maximum number of trustees is currently 9.

2 trustees must offer themselves for re-election at the AGM each year.

Organisational structure

The Board of Trustees administers the Charity. The Board meets at least quarterly.

Induction and training of new trustees

New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, the business plan and recent financial performance of the charity.

Wider network

The budget is submitted to the trustees quarterly for approval at trustee meetings. Any material changes to the budget are submitted to a specially convened meeting of the trustees.

Day to day management of the project is overseen by a project management committee comprising at least two trustees, one of whom is the Chairman.

Related parties

The Charity has a close relationship with the Trustees of The Peel Centre, an organisation which runs a building situated close to the property and grounds of The Dronfield Heritage Trust.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06299935 (England and Wales)

Registered Charity number

1120875

Registered office

158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE

Trustees

A A Powell D Smillie Mrs A Brown Ms M S Taylor (resigned 18.3.20) B Simpson P L Johnson (resigned 30.9.20) Mrs A C Carannante (appointed 15.3.21) W Campbell (appointed 29.10.20)

Company Secretary

Page 2

The Dronfield Heritage Trust

Report of the Trustees for the Year Ended 31 July 2020

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE

Approved by order of the board of trustees on 30 April 2021 and signed on its behalf by:

A A Powell - Trustee

Page 3

Independent Examiner's Report to the Trustees of The Dronfield Heritage Trust

Independent examiner's report to the trustees of The Dronfield Heritage Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020.

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.

Christopher John Woodhead BA (Hons) FCA C J Woodhead & Co Ltd 158 Hemper Lane Greenhill Sheffield South Yorkshire S8 7FE

Date: .............................................

Page 4

The Dronfield Heritage Trust

Statement of Financial Activities for the Year Ended 31 July 2020

31.7.20
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
190,203
Investment income
2
17
Total
190,220
EXPENDITURE ON
Raising funds
7,701
Charitable activities
Insurance
2,726
Gardening
2,959
Professional charges
22,893
Bank charges
60
Repairs & renewals
13,458
Post & stationery
1,626
Subscriptions & donations
190
Sundries
293
Room hire
1,595
Depreciation
6,077
Advertising
8,026
Publicity
64
Admission fees
57
Catering & refreshments
335
Wages
48,091
Telephone
1,275
Travelling
92
Training
-
Web design & IT consultancy
989
Light & heat
10,644
Cleaning
11,314
Rates and water
3,519
Loan interest
200
Entertainment
2,526
Workshop
3,262
Accountancy
2,470
Medieval festival
2,120
Web design & maintenance
2,388
Pension costs
-
World War 1 exhibition
-
Pensions
4,818
Exhibitions & publications
1,503
Filming & Talking Heads
1,000
Health & safety
552
Total
164,823
NET INCOME
25,397		 31.7.19
Total
funds
£
189,040
64
189,104
-
4,580
2,045
4,293
60
16,730
1,797
250
592
3,724
7,176
2,553
5,673
430
380
48,147
962
130
1,992
2,565
10,218
12,937
2,440
1,801
18,252
4,437
2,470
1,200
-
64
3,447
4,380
-
-
-
165,725
23,379

The notes form part of these financial statements

Page 5

The Dronfield Heritage Trust

Statement of Financial Activities for the Year Ended 31 July 2020

31.7.20
Unrestricted
fund
Notes
£
RECONCILIATION OF FUNDS
Total funds brought forward
353,366
TOTAL FUNDS CARRIED FORWARD
378,763		 31.7.19
Total
funds
£
329,987
353,366

The notes form part of these financial statements

Page 6

The Dronfield Heritage Trust

Balance Sheet 31 July 2020

31.7.20
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
23,334
Heritage assets
8
334,184
357,518
CURRENT ASSETS
Debtors
9
2,183
Cash at bank and in hand
48,720
50,903
CREDITORS
Amounts falling due within one year
10
(24,304)
NET CURRENT ASSETS
26,599
TOTAL ASSETS LESS CURRENT
LIABILITIES
384,117
CREDITORS
Amounts falling due after more than one year
11
(5,354)
NET ASSETS
378,763
FUNDS
13
Unrestricted funds
378,763
TOTAL FUNDS
378,763		 31.7.19
Total
funds
£
27,783
333,684
361,467
2,183
28,868
31,051
(33,798)
(2,747)
358,720
(5,354)
353,366
353,366
353,366

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 7

continued...

The Dronfield Heritage Trust

Balance Sheet - continued 31 July 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 April 2021 and were signed on its behalf by:

A A Powell - Trustee

The notes form part of these financial statements

Page 8

The Dronfield Heritage Trust

Notes to the Financial Statements for the Year Ended 31 July 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance Computer equipment - 33% on reducing balance

Taxation

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

Fund accounting

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

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 9

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued for the Year Ended 31 July 2020

2. INVESTMENT INCOME

INVESTMENT INCOME
31.7.20 31.7.19
£ £
Interest received 17 64
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.7.20 31.7.19
£ £
Depreciation - owned assets 6,078 7,176

3. NET INCOME/(EXPENDITURE)

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Administration
No employees received emoluments in excess of £60,000.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Charitable activities
Insurance
Gardening
Professional charges
Bank charges
Repairs & renewals
Post & stationery
Subscriptions & donations
Sundries
Room hire
Depreciation		 31.7.20
31.7.19
2
2
Unrestricted
fund
£
189,040
64
189,104
4,580
2,045
4,293
60
16,730
1,797
250
592
3,724
7,176

Page 10

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued for the Year Ended 31 July 2020

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
Advertising 2,553
Publicity 5,673
Admission fees 430
Catering & refreshments 380
Wages 48,147
Telephone 962
Travelling 130
Training 1,992
Web design & IT consultancy 2,565
Light & heat 10,218
Cleaning 12,937
Rates and water 2,440
Loan interest 1,801
Entertainment 18,252
Workshop 4,437
Accountancy 2,470
Medieval festival 1,200
Pension costs 64
World War 1 exhibition 3,447
Pensions 4,380
Total 165,725
NET INCOME 23,379
RECONCILIATION OF FUNDS
Total funds brought forward 329,987
TOTAL FUNDS CARRIED FORWARD 353,366

Page 11

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued for the Year Ended 31 July 2020

7. TANGIBLE FIXED ASSETS

Plant and
machinery
£
COST
At 1 August 2019
31,773
Additions
-
At 31 July 2020
31,773
DEPRECIATION
At 1 August 2019
18,371
Charge for year
2,681
At 31 July 2020
21,052
NET BOOK VALUE
At 31 July 2020
10,721
At 31 July 2019
13,402
8.
HERITAGE ASSETS
MARKET VALUE
At 1 August 2019
Additions
At 31 July 2020
NET BOOK VALUE
At 31 July 2020
At 31 July 2019		 Fixtures
and
Computer
fittings
equipment
£
£
29,120
5,578
1,088
541
30,208
6,119
15,659
4,658
2,910
487
18,569
5,145
11,639
974
13,461
920		 Totals
£
66,471
1,629
68,100
38,688
6,078
44,766
23,334
27,783
Total
£
333,684
500		 Totals
£
66,471
1,629
68,100
38,688
6,078
44,766
23,334
27,783
334,184
334,184
333,684

In the opinion of the trustees the freehold building is a heritage asset.

The trustees are of the opinion that the building will retain its value and that this value will not fall below the cost stated in the accounts.

In view of this the trustees have opted not to depreciate the building.

Page 12

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued
for the Year Ended 31 July 2020
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 12)
Trade creditors
Social security and other taxes
Payroll liabilities
Other creditors
Accrued expenses
11.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other creditors
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
13.
MOVEMENT IN FUNDS
At 1.8.19
£
Unrestricted funds
General fund
353,366
TOTAL FUNDS
353,366		 31.7.20
£
833
1,350
2,183
31.7.20
£
-
11,111
70
752
5,786
6,585
24,304

31.7.20
£
5,354
31.7.20
£
-
Net
movement
in funds
£
25,397
25,397		 31.7.19
£
833
1,350
2,183
31.7.19
£
12,470
-
7,510
-
6,048
7,770
33,798
31.7.19
£
5,354
31.7.19
£
12,470
At
31.7.20
£
378,763		 31.7.19
£
833
1,350
2,183
31.7.19
£
12,470
-
7,510
-
6,048
7,770
33,798
378,763

Page 13

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued for the Year Ended 31 July 2020

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
190,220
190,220		 Resources
Movement
expended
in funds
£
£
(164,823)
25,397
(164,823)
25,397

Comparatives for movement in funds

At 1.8.18
£
Unrestricted funds
General fund
329,987
TOTAL FUNDS
329,987
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
189,104
TOTAL FUNDS
189,104		 Net
movement
At
in funds
31.7.19
£
£
23,379
353,366
23,379
353,366
Resources
Movement
expended
in funds
£
£
(165,725)
23,379
(165,725)
23,379

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.8.18
£
329,987
329,987		 Net
movement
in funds
£
48,776
48,776		 At
31.7.20
£
378,763
378,763

Page 14

continued...

The Dronfield Heritage Trust

Notes to the Financial Statements - continued for the Year Ended 31 July 2020

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
379,324
379,324		 Resources
Movement
expended
in funds
£
£
(330,548)
48,776
(330,548)
48,776

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2020.

15. ULTIMATE CONTROLLING PARTY

The trustee directors are the ultimate controlling party.

Page 15

The Dronfield Heritage Trust

Detailed Statement of Financial Activities
for the Year Ended 31 July 2020
31.7.20
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
8,493
Grants
60,059
Sundry income
2,996
Friends memberships
4,949
Publication sales
3,461
Room rents
85,836
Catering income
16,639
Events
5,995
Plant & garden takings
891
Producers markets
884
190,203
Investment income
Interest received
17
Total incoming resources
190,220
EXPENDITURE
Other trading activities
Customer refunds
7,701
Charitable activities
Room hire
1,595
Insurance
2,726
Sundries
293
Gardening
2,959
Professional charges
22,893
Publicity & promotion
8,090
Repairs & renewals
13,458
Admission fees
57
Catering & refreshments
335
Mileage & travel
92
Training
-
IT software & repairs
954
Cleaning
11,314
Entertainment (for visitors)
2,526
Workshops
3,262
Medieval festival
2,120
Web design & maintenance
2,388
World War 2 exhibition
-
Exhibitions & publications
1,503
Filming & Talking Heads
1,000
Health & safety
552
Plant and machinery
2,681
Carried forward
80,798		 31.7.19
£
10,329
32,703
4,778
6,489
4,251
96,152
19,125
11,227
3,015
971
189,040
64
189,104
-
3,724
4,580
592
2,045
32,141
8,226
4,532
430
380
130
1,992
2,565
12,352
2,602
4,437
1,200
-
4,032
-
-
-
3,350
89,310

This page does not form part of the statutory financial statements

Page 16

The Dronfield Heritage Trust

Detailed Statement of Financial Activities
for the Year Ended 31 July 2020
31.7.20
£
Charitable activities
Brought forward
80,798
Fixtures and fittings
2,910
Computer equipment
486
84,194
Support costs
Management
Wages
47,081
Social security
1,010
Pensions
4,818
Rates and water
3,519
Light and heat
10,644
Telephone
1,275
68,347
Finance
Bank charges
60
Bank loan interest
200
260
Information technology
Postage and stationery
1,626
Subscriptions
225
1,851
Governance costs
Accountancy and legal fees
2,470
Total resources expended
164,823
Net income
25,397		 31.7.19
£
89,310
3,366
460
93,136
44,370
3,777
4,444
2,440
10,218
962
66,211
60
1,801
1,861
1,797
250
2,047
2,470
165,725
23,379

This page does not form part of the statutory financial statements

Page 17