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← Carnegie Heritage Centre Limited

2024-03-31-accounts

Charity registration number 1131585

Company registration number 06966992 (England and Wales)

CARNEGIE HERITAGE CENTRE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

CARNEGIE HERITAGE CENTRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms C West
Mr D J Ostler
Ms A P Knox
Dr A R Deighton
Mr F L Sylvester
Ms E Shepherd
Mr P D Taylor
Mr S Ingram
Mr K P Mawer (Appointed 13 September
2023)
Mr M V Sharman
Secretary Mr P D Taylor
Charity number 1131585
Company number 06966992
Registered office Carnegie Heritage Centre
342 Anlaby Road
Hull
East Yorkshire
England
HU3 6JA
Independent examiner Rackhams Accountants Limited
3 Melton Enterprise Park
Redcliff Road
Melton
East Yorkshire
England
HU14 3RS

CARNEGIE HERITAGE CENTRE LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

CARNEGIE HERITAGE CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 [governing document], 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 Charitable Company's principal activities are to preserve and protect the Carnegie Library as a building of historical and architectural importance for the residents of Newington and the public at large, and to advance public education through the provision of a library and a heritage centre for the promotion of local history.

Public benefit

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

Achievements and performance

Significant activities and achievements against objectives

The Trustees can report that the year ended in March 2024 was a very successful return to most of our regular activities following the Covid disruptions, as well as some new projects and ideas.

Significantly, we were successful in gaining a grant from the Heritage Fund for a new project relating to the history of Community Centres in Hull. The project received £17,202 during the year with further funding due when it ends in June 2024. We very unexpectedly received a large donation of £18,101 from the charity Hull Remembers as it sadly wound up its Hull Peoples Memorial shop in the city centre. We are very grateful and our thanks go to those Trustees who thought of us. We also received £2,000 from the Trustees of the Matthew Good Foundation for preservation and digitisation of an important war time shipping ledger. Overall, then, along with regular activities which included talks again after a break of two years, our total income for the year was £52,045 which is a record for the charity.

Significantly, we spent £7,850 on building maintenance and £7,110 on energy which was mostly for heating. Overall spending during the year was £42,009 leaving our reserves higher than could be expected.

As well as our usual activities we plan to complete the Heritage Fund project and finally tackle a large back log of garden maintenance of our property which is overdue since the Covid years.

Finally, we wish to thank our dedicated group of volunteers who work so creatively and successfully to support the charity’s aims and objectives so successfully.

Financial review

Reserves policy

It is the policy of the charity to hold liquid unrestricted funds at a level sufficient to cover costs for a period of 12 months.

Structure, governance and management

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.

CARNEGIE HERITAGE CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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:

Ms C West

Mr D J Ostler Ms A P Knox Dr A R Deighton Mr F L Sylvester Ms E Shepherd Mr P D Taylor Mr S Ingram Mr K P Mawer (Appointed 13 September 2023) Mr M V Sharman

Recruitment and appointment of trustees

Appointment of trustees is governed by the Articles of the Company and the Board is authorised to fill vacancies arising through the death or resignation of an existing trustee on a temporary basis until the next Annual General Meeting.

Induction and training of trustees

New trustees are invited to attend committee meetings in order that they may judge the level of commitment and responsibilities that are involved with being a trustee.

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

Mr P D Taylor

17 October 2024

CARNEGIE HERITAGE CENTRE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CARNEGIE HERITAGE CENTRE LIMITED

I report to the trustees on my examination of the financial statements of Carnegie Heritage Centre Limited (the charity) for the year ended 31 March 2024.

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 myself 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, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Rackhams Accountants Limited

3 Melton Enterprise Park Redcliff Road Melton East Yorkshire HU14 3RS England

Dated: 17 October 2024

CARNEGIE HERITAGE CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
20,936
19,202
Charitable activities
4
10,125
-
Other trading activities
5
1,527
-
Investments
6
255
-
Total income
32,843
19,202
Expenditure on:
Raising funds
7
240
-
Charitable activities
8
24,542
17,227
Total expenditure
24,782
17,227
Net income and movement in
funds
8,061
1,975
Reconciliation of funds:
Fund balances at 1 April 2023
30,649
8,090
Fund balances at 31 March
2024
38,710
10,065		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
40,138
8,306
9,125
10,125
8,165
-
1,527
2,746
-
255
47
-
52,045
19,264
9,125
240
11
-
41,769
19,543
4,743
42,009
19,554
4,743
10,036
(290)
4,382
38,739
30,939
3,708
48,775
30,649
8,090		 Total
2023
£
17,431
8,165
2,746
47
28,389
11
24,286
24,297
4,092
34,647
38,739

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CARNEGIE HERITAGE CENTRE LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
17
Unrestricted funds
18		 2024
£
379
47,839
48,218
(6,445)		 £
7,002
41,773
48,775
10,065
38,710
48,775		 2023
£
482
29,670
30,152
(1,736)		 £
10,323
28,416
38,739
8,090
30,649
38,739

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 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 17 October 2024

Mr S Ingram

Company registration number 06966992 (England and Wales)

CARNEGIE HERITAGE CENTRE LIMITED

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

1 Accounting policies

Charity information

Carnegie Heritage Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Carnegie Heritage Centre, 342 Anlaby Road, Hull, East Yorkshire, HU3 6JA, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 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. Bank overdrafts are shown within borrowings in current liabilities.

1.9 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.

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.

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
2,835
-
Grants
18,101
19,202
20,936
19,202
Grants
Sir James Reckitt Charity
-
-
Hull City Council
-
-
Hull Culture & Leisure
-
-
Hull Remembers
18,101
-
Heritage Fund
-
17,202
Matthew Good
Foundation
-
2,000
18,101
19,202		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
2,835
3,306
-
37,303
5,000
9,125
40,138
8,306
9,125
-
5,000
8,295
-
-
400
-
-
430
18,101
-
-
17,202
-
-
2,000
-
-
37,303
5,000
9,125		 Total
2023
£
3,306
14,125
17,431
13,295
400
430
-
-
-
14,125

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable Activity Income
Publication sales 2,853 3,031
Prints & copies 633 269
Educational events 1,984 1,197
Charitable rental income 4,655 3,668
10,125 8,165
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 1,350 2,453
Sale of donated goods 177 293
Other trading activities 1,527 2,746
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 255 47
7 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 240 11

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on charitable activities

Charitable Charitable
Activity Activity
Expenditure Expenditure
2024 2023
£ £
Direct costs
Depreciation and impairment 2,497 3,479
Volunteer expenses 952 327
Heat & light 7,110 6,109
Rent & rates 788 693
Insurance 761 1,482
Maintenance 7,850 2,329
Cost of sales 1,672 1,763
Volunteer training 140 600
Publicity & marketing 394 793
Sundry equipment 773 505
Telephone & broadband 1,140 972
Learning resources costs 3,719 4,038
Website costs 85 -
Professional fees and consultancy 11,850 -
General project expenses 824 -
40,555 23,090
Share of support and governance costs (see note 9)
Governance 1,214 1,196
41,769 24,286
Analysis by fund
Unrestricted funds 24,542 19,543
Restricted funds 17,227 4,743
41,769 24,286

9 Support costs allocated to activities

Governance costs
Analysed between:
Charitable Activity Expenditure		 2024
£
1,214
1,214		 2023
£
1,196
1,196

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 630 600
Depreciation of owned tangible fixed assets 2,314 3,420

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 April 2023 43,290
Additions 376
Disposals (5,829)
At 31 March 2024 37,837
Depreciation and impairment
At 1 April 2023 32,967
Depreciation charged in the year 2,314
Eliminated in respect of disposals (4,446)
At 31 March 2024 30,835
Carrying amount
At 31 March 2024 7,002
At 31 March 2023 10,323

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Debtors

15
Debtors
Amounts falling due within one year:
Trade debtors
16
Creditors: amounts falling due within one year
Accruals and deferred income		 2024
£
379
2024
£
6,445		 2023
£
482
2023
£
1,736

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At
Fixed Assets
Heritage Fund 2023-2024
Matthew Good Foundation
Previous year:
At
Fixed Assets
Sir James Reckitt Charity
Humber Museum Partnership
Hull City Council		 1 April
2023
Incoming
resources
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
£
8,090
-
(2,022)
-
6,068
-
17,202
(13,205)
-
3,997
-
2,000
(2,000)
-
-
8,090
19,202
(17,227)
-
10,065
1 April
2022
Incoming
resources
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
£
2,491
-
(2,696)
8,295
8,090
-
8,295
-
(8,295)
-
1,217
430
(1,647)
-
-
-
400
(400)
-
-
3,708
9,125
4,743
-
8,090		 1 April
2023
Incoming
resources
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
£
8,090
-
(2,022)
-
6,068
-
17,202
(13,205)
-
3,997
-
2,000
(2,000)
-
-
8,090
19,202
(17,227)
-
10,065
1 April
2022
Incoming
resources
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
£
2,491
-
(2,696)
8,295
8,090
-
8,295
-
(8,295)
-
1,217
430
(1,647)
-
-
-
400
(400)
-
-
3,708
9,125
4,743
-
8,090
8,090

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
Fixed Assets
Building Fund
General funds
Previous year:
At
Fixed Assets
General funds		 1 April
2023
Incoming
resources
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
£
2,233
-
(475)
(824)
934
-
-
-
5,000
5,000
28,416
32,843
(24,307)
(4,176)
32,776
30,649
32,843
(24,782)
-
38,710
1 April
2022
Incoming
resources
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
£
3,151
-
(724)
(194)
2,233
27,788
19,264
(18,830)
194
28,416
30,939
19,264
19,554
-
30,649		 1 April
2023
Incoming
resources
Resources
expended
Transfers
At 31 March
2024
£
£
£
£
£
2,233
-
(475)
(824)
934
-
-
-
5,000
5,000
28,416
32,843
(24,307)
(4,176)
32,776
30,649
32,843
(24,782)
-
38,710
1 April
2022
Incoming
resources
Resources
expended
Transfers
At 31 March
2023
£
£
£
£
£
3,151
-
(724)
(194)
2,233
27,788
19,264
(18,830)
194
28,416
30,939
19,264
19,554
-
30,649
30,649

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
934
6,068
Current assets/(liabilities)
37,776
3,997
38,710
10,065
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 March 2023:
Tangible assets
2,233
8,090
Current assets/(liabilities)
28,416
-
30,649
8,090		 Total
2024
£
7,002
41,773
48,775
Total
2023
£
10,323
28,416
38,739

CARNEGIE HERITAGE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).