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2023-03-31-accounts

Charity registration number 1123751

Company registration number 06493711 (England and Wales)

LEWES PRIORY TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

LEWES PRIORY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Paul Benjamin
Philip Daniel
Arthur Franklin
Tony Freeman
Sy Morse-Brown
Susan Murray
Andrew Norris
Ruth O'Keeffe
Stephen Wischhusen (known as
Catlin)
Charity number 1123751
Company number 06493711
Registered office Town Hall
High Street
Lewes
East Sussex
BN7 2QS
Independent examiner Knill James LLP
One Bell Lane
Lewes
East Sussex
BN7 1JU
Bankers CAF Bank Ltd
PO Box 289
25 Kings Hill Avenue
West Malling
Kent
ME19 4TA

LEWES PRIORY TRUST

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 14

LEWES PRIORY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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

The charity's objectives and its principal activities are to preserve the remains of the Cluniac Priory of St Pancras near Lewes in the County of East Sussex (‘the Priory’) for the benefit of the public generally and especially the inhabitants of the District of Lewes, to facilitate public and archaeological access to the Priory and to advance the education of the public in the subject of the Priory and its importance in the history of the British Isles, Europe and internationally.

The Trust objectives are pursued in accordance with the principles set out in the Development Plan 2022 which is available on the website.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance Overview

This year the Trust has been involved in exciting plans which may see Lewes Priory being included on a list of sites seeking World Heritage Status under the auspices of the European Federation of Cluniac Sites. The Trust held its 2022 AGM and Emil Godfrey Memorial Lecture on 24th June which was recorded and made available to members on Zoom. The Trust maintained regular contact with its members through newsletters and its links with other UK Cluniac sites and the European Federation. A successful programme of Guided Tours attracted new members and will be repeated during 2023. The Trust has also received support from Historic England for a major archaeological investigation of the Infirmary which was prompted by its successful series of on-line seminars. The Trust continues to engage with the local community and organisations and with educational establishments through its many events and activities. The Trust has a recognised local, national and now international reputation.

Priory site

Lewes District Council continues to empty waste bins and dog bins. Barcombe Landscapes continue to mow the site and attend to numerous maintenance issues.

Our Architect Richard Andrews made his annual inspection and prepared a schedule of work which was given Scheduled Monument Consent by Historic England and work was carried out in May 2022. He is consulted whenever issues arise with the fabric of the site. Significant falls of chalk rubble caused by the severe winter and frost damage have been cleared but further falls continue to occur and are monitored and actioned appropriately.

Following a spate of vandalism on the site during which a number of display panels were sprayed with graffiti and the model and a steel safety barrier damaged. Cleaning and repairs were carried out. The local authorities, police and interested parties have been actively addressing the problems through a series of initiatives and its is hoped that these will be successful. As the site is open to the public at all times preventing anti-social activity is difficult but the Trust is grateful to members of the public who report any signs of damage.

The concrete lines marking the outlines of the Infirmary have been clearly defined and cleaned and rabbit holes which occasionally appear filled. Discussions are taking place with Bonny’s Wood and the Town Council regarding proposals to label all the trees within the site.

Members of the public regularly use and enjoy Priory Park and the site of the Priory which is well maintained and the display panels and gardens and the remains themselves attract appreciative comments. We are grateful to Lewes Town Council for their support and their financial grant towards the considerable costs of maintenance of the site.

LEWES PRIORY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Events

Southover Bonfire Society held its May Fayre in May and June 2022 and this year will be organising the event on 13th and 14th May. In September 2023 the society will be organising the Priory By Candlelight Event which has been so popular in the past. In June 2022 a public choral concert was given by the Ashdown Singers in the remains of the Priory. A series of Guided Tours in 2022 proved very popular and this year Caroline Raby has organised a further series. Tickets will be advertised and sold through a number of local outlets. In June 2022 as part of our educational and community outreach two stained glass workshops were held. Kate Hickmott and Helen Chiasson organised a Medieval Feast in January 2023 in the Church of St John the Baptist, Southover and our annual Members’ Evening was also held there in January 2023. At Lewes Town Hall in February the Trust promoted its Herb and Community Gardens at Seedy Saturday. The Emil Godfrey Memorial Lecture was delivered by Dr.Graham Mayhew on 24th June 2022. This year the lecturer will be Michael Carter, the Curator of Property for Historic England whose chosen topic will be Cluniac Relics.

Education

Our education managers Kate Hickmott and Helen Chiasson organised learning activities for thirty seven students and staff from the University of Waterloo, Canada which included a tour of the Priory site and the Gundrada Chapel in the Church of St John the Baptist, Southover. A programme is also being finalised for students at East Sussex College as well as for pupils at Lewes primary schools.

Projects

Priory Stones and Lavatorium Research Projects

Under the leadership of Paul Benjamin and with the support of Andy Gammon the cataloguing and photographing of the stones relating to the Priory has ben completed and a database compiled. From these it has been possible to suggest a possible reconstruction of the cloister arcade. The final results and interpretation of the 3-D laser scan of the Lavatorium which was undertaken by Historic England have yet to be made available to make further research possible.

Infirmary Project

Having received support from Historic England and the County Archaeologist for an archaeological investigation of the Infirmary, Tony Freeman and Arthur Franklin have been in discussions with Archaeology South East and detailed proposals drafted. Enquiries have been made to the Heritage Lottery Fund for financial support and its is hoped that if the necessary funds from a variety of sources can be obtained this exciting project can take place in 2023 or 2024 if Scheduled Monument Consent for the investigation is given.

Chris Grove, a former Treasurer of the Trust, is researching the construction of the railway through Lewes and the Priory and its is hoped that this will further inform our knowledge of the site.

National & International Links

UK Cluniac Forum

The 2022 Cluniac Forum was hosted by Delapré Abbey. The conference this year will be held at Prittlewell Priory on 6th October.

European Federation of Cluniac Sites

The Federation’s bid for Cluny and Cluniac sites to be included on a list of UNESCO World Heritage sites is progressing, and Lewes Town Council, East Sussex County Council, the South Downs National Park and other organisations and societies have given their support.Tony Freeman and Sy Morse-Brown are working closely with the Federation to see that Lewes Priory can be included the list of candidate sites. Representatives from UNESCO and the Federation visited Lewes in May 2022 and attended a meeting with representatives from Lewes Town Council to promote their bid.

Priory Gardens

The Priory Herb Garden has been established for forty years, and it is extremely pleasing that it is being well maintained by volunteers under the direction of Sue Fitzsimmons. The Kitchen Garden is now in its fifth year and volunteers hold regular sessions at the garden, ably supervised by Sue Rideout. The hedge planted following vandalism to the wattle fencing is protected by chestnut palings until it becomes established..

The Apple Orchard planted in 2014 is carefully managed by Mary Benjamin. One tree suffered damage through vandalism but we are hoping that it will recover this year.

A Wildflower Meadow on the bank above the herb garden has been slow to develop and a more suitable location may need to be found.

LEWES PRIORY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Lewes Priory Research Group

The Trust is grateful to members of the Research Group whose extensive knowledge and expertise can be called upon to inform our deliberations on historical ad archaeological matters.

Emil Godfrey Memorial Lecture

The 2022 lecture delivered by Dr.Graham Mayhew was entitled ‘Lewes and Cluny - liturgy, art and iconography’. It was recorded at the AGM on 24th June 2022 and made available on Zoom to non-members on 1st July. This year it will be held on 29th June when the speaker will be Michael Carter, the Curator of Property for Historic England. His topic will be ‘Cluniac Relics’. Details will be publicised as soon as the venue can be confirmed.

Publications

Our publications, and the information leaflets (in a number of languages) are available from the local Tourist Information Centre, Anne of Cleves House and the Barbican Museum. Andrew Norris monitors availability and oversees their distribution.

Website

The website, www.lewespriory.org.uk was launched by Surface Impression in 2011. It includes an enormous amount of material relating to the Priory and includes a Members Area exclusively available to members of the Trust. Funds are always needed to assist with the considerable costs of maintaining and updating the site.

Social Media

Andrew Norris monitors our IT and his expertise and experience is invaluable. We are grateful to him for the time and effort required to publicise and update our news posts.

Lewes District Local Lottery

The Trust has benefitted from the good causes page - http:///www.leweslocallottery.co.uk/support/lewes-priory-trust

Membership

Susan Murray oversees our Membership and provides updated information to members. This year we have 169 members but are always seeking ways to attract more. In particular we are eager to attract university and school students and young members who will ensure the continuity of support on which the Trust’s future depends.

Volunteers

The Trust is extremely grateful to all those who willingly give of their time throughout the year to ensure that the Trust maintains its high local, national and now international reputation. We are seeking someone who would be interested in becoming our Secretary to record meetings and assist Trustees with some of the general administrative tasks.

We are keen to welcome anyone with an interest in history, archaeology, horticulture or research or who would like to become involved with any of the events throughout the year.

LEWES PRIORY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

The Trust received total income for the financial year of £27,579, but this included a much-appreciated special onetime grant of £5,500 from Lewes Town Council towards exceptional restoration and rehabilitation works. Excluding that grant, income was £22,079, which compares with a figure of £17,370 (excluding an insurance claim) for the previous year 2021/22 (FY22).

Income from members and visitors rose to £4,323 from £2,892 in FY22. Membership subscription income was lower in FY23 (at £1,181) than in FY22 (£2,274) but that for FY22 was substantially boosted by the online symposia held in May 2021. The reduction in subscription income was more than offset by an increase in income from tours and open days (a five-fold increase on FY22).

Maintenance of the Priory was again the Trust’s largest expense and these costs in FY23 were exceptional at £20,552, principally because of rehabilitation and repair expenses arising from the annual survey. This possibility was foreseen in the Trustees’ annual report for FY22. The Trustees appreciate the generosity of the Town Council in helping to meet these costs. These exceptional costs also reinforce the need for the Trust’s reserves policy, adopted during FY22, which recognizes that a degree of provision for such circumstances must form part of our management of reserves.

The Trust ended the year FY23 with a small excess of expenditure over income – a deficit – of £2,945. The deficit has been funded from reserves so that total funds held at the year-end were reduced by the amount of the deficit when compared with the year-end of FY22.

As foreshadowed in last year’s report, the deposit account with United Trust Bank was closed and the balance transferred to our sole remaining bank account at CAF Bank. Total cash at bank and in hand closed at £23,212, slightly down from the close of FY22.

Reserves policy

The charity's reserves are required (a) for the purpose of providing adequate working capital for the efficient operation or the charitable company with particular regard to the future obligations and responsibilities accruing from the projects supported by external funders, to build upon the projects and also to cover any financial obligations in the event of the charitable company ceasing operations; and (b) to cover maintenance and repair obligations at the Priory site, both anticipated and unanticipated. It is considered that current levels set aside are adequate.

Structure, governance and management

The charity is constituted as a company limited by guarantee, and is therefore governed by its Memorandum and Articles of Association. Its governing body controls the management of the trust and consists of the trustees and coopted members.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs S Baker (Resigned 27 April 2023) Paul Benjamin Philip Daniel Arthur Franklin Tony Freeman Sy Morse-Brown Susan Murray Andrew Norris Ruth O'Keeffe Stephen Wischhusen (known as Catlin)

LEWES PRIORY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Trustees are recruited on the basis of their commitment to, and ability to contribute to, the objectives of the trust, and are appointed as charitable directors in accordance with the procedures laid down in the Memorandum and Articles of Association.

The Trustees are grateful to Laura Chrisostomou who as Town Clerk to Lewes Town Council provided help and advice on numerous matters and who left the council in March 2023.

Francesca Pridding is the new temporary Town Clerk and we look forward to working with her in the immediate future.

Graham Mayhew also served on the governing body as Town Council representative.

Qualifying third party indemnity provisions

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute up to £10 in the event of a winding up.

The charity has no related parties.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Trustees' report was approved by the Board of Trustees.

..............................

Arthur Franklin

Trustee

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

LEWES PRIORY TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEWES PRIORY TRUST

We report to the Trustees on our examination of the financial statements of Lewes Priory Trust (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied ourselves that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:

We 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 financial statements to be reached.

Knill James LLP

One Bell Lane Lewes East Sussex BN7 1JU

Dated: .........................

LEWES PRIORY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
23,083
-
Charitable activities
3
4,323
-
Income from
Investments
4
173
-
Total income
27,579
-
Expenditure on:
Charitable activities
5
30,524
-
Net (outgoing)/incoming
resources before transfers
(2,945)
-
Gross transfers between
funds
177
(177)
Net (expenditure)/income for
the year/
Net movement in funds
(2,768)
(177)
Fund balances at 1 April 2022
29,872
379
Fund balances at 31 March
2023
27,104
202		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
23,083
14,438
-
4,323
2,892
-
173
40
-
27,579
17,370
-
30,524
12,914
1,858
(2,945)
4,456
(1,858)
-
(233)
233
(2,945)
4,223
(1,625)
30,251
25,649
2,004
27,306
29,872
379		 Total
2022
£
14,438
2,892
40
17,370
14,772
2,598
-
2,598
27,653
30,251

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LEWES PRIORY TRUST

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Current assets
Stocks
10
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Income funds
Restricted funds
13
Unrestricted funds		 2023
£
3,690
1,856
23,212
28,758
(1,452)		 £
27,306
202
27,104
27,306		 2022
£
3,257
1,519
26,735
31,511
(1,260)		 £
30,251
379
29,872
30,251

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on .........................

.............................. Philip Daniel Trustee

Company registration number 06493711

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Lewes Priory Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Town Hall, High Street, Lewes, East Sussex, BN7 2QS.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.

Restricted funds are those donated for a particular purpose or else where fundraising has been undertaken for a particular purpose.

1.3 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grant income is recognised when the formal offer of funding has been received subject to any performance conditions having been met.

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.4 Resources expended

Expenditure is included on an accruals basis.

Charitable activities - Charitable activities include expenditure associated with the objects of the charity and also include support costs relating to that activity.

Governance costs - Governance costs include those costs incurred in the governance of the charity and are primarily associated with constitutional and statutory requirements.

1.5 Stocks

Stocks are stated at the lower of cost and net realisable value.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

1.9 Creditors

Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

2 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 3,723 1,325
Grants receivable 19,360 13,113
23,083 14,438
Grants receivable for core activities
Lewes Town Council 19,360 13,113
19,360 13,113

3 Charitable activities

Tours and
open days
Subscriptions
2023
2023
£
£
Income from
members and
visitors
3,142
1,181
Income from Investments
Interest receivable		 Total
Tours and
open days
Subscriptions
Total
2022
2023
2022
2022
£
£
£
£
4,323
618
2,274
2,892
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
173
40		 Total
2022
£
2,892

4 Income from Investments

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

5 Charitable activities

Preservation
Preservation
and
and education
education
2023 2022
£ £
Maintenance of priory 20,552 6,399
Cluniac sites membership 129 127
Event expenses 4,103 534
Publications 243 773
Education costs 180 433
Website costs 211 623
Erasmus + - 372
Kitchen garden 1,510 1,052
26,928 10,313
Share of support costs (see note 6) 2,084 2,199
Share of governance costs (see note 6) 1,512 2,260
30,524 14,772
Analysis by fund
Unrestricted funds 30,524 12,914
Restricted funds - 1,858

6 Support costs

Support
costs
Governance
costs
£
£
Miscellaneous expenses
13
-
Insurance
1,519
-
Bank charges
72
-
Other support costs
10
-
Computer costs
470
-
Legal and professional
-
-
Independent exam fee
-
1,512
2,084
1,512
Analysed between
Charitable activities
2,084
1,512		 2023
Support
costs
Governance
costs
£
£
£
13
-
-
1,519
1,391
-
72
106
-
10
75
-
470
627
-
-
-
1,000
1,512
-
1,260
3,596
2,199
2,260
3,596
2,199
2,260		 2022
£
-
1,391
106
75
627
1,000
1,260
4,459
4,459

Governance costs includes payments to the Independent Examiner of £1,512 (2022- £1,260).

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year. Trustees were reimbursed for expenses incurred amounting to £nil (2022 - two Trustees - £213).

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Stocks
2023 2022
£ £
Finished goods and goods for resale 3,690 3,257
11 Debtors
2023 2022
Amounts falling due within one year: £ £
Prepayments and accrued income 1,856 1,519
12 Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 1,452 1,260

LEWES PRIORY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

13 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at Resources Transfers Balance at Transfers Balance at
1 April 2021 expended 1 April 2022 31 March 2023
£ £ £ £ £ £
Banner project 168 - - 168 - 168
Kitchen garden project -
Phase 2 899 (1,052) 153 - - -
Erasmus + 292 (372) 80 - - -
Herb Garden 35 - - 35 - 35
May Symposia 610 (434) - 177 (177) -
2,004 (1,858) 233 379 (177) 202

The Banner project fund represents a grant from Lewes Town Council towards the cost of an embroidered banner to be prepared by WI members. This project is still in progress.

Kitchen Garden; a grant from Chalk Cliff Trust was received in 2018 and has supported ongoing garden maintenance and educational costs.

The Erasmus + project is an EU strategic partnership in relation to cultural heritage in adult education across Poland, Portugal and the UK (Lewes). The income and expenses relate to the ongoing management of the project. A further grant was received from Lewes Town Council for hosting costs for the UK segment of the project.The project is underway but is on hold pending easing of Covid-19 restrictions. Following Brexit and the UK's withdrawal from the Erasmus Programme, the future of the project is unclear

The Herb Garden is a raised bed in an enclosed area in the Priory Park. Funds received are for the maintenance of this area.

A grant was received from Lewes Town Council towards the cost of running a series of four symposia via Zoom in May 2021, the work has now been completed and the remaining balance of £177 has been transferred to unrestricted funds.

14 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Current assets/(liabilities)
27,104
202
27,104
202		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
27,306
29,872
379
27,306
29,872
379		 Total
2022
£
30,251
30,251

15 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).