Approval Charlty rogistratlon number 1141906 Company reglstratlon numbor 07206488 (England and Walas) COGGES HERITAGE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Approval COGGES HERITAGE TRUST LEGAL AND ADMINISTRATWE INFORMATION Tru4teg9 J Bradshaw G M•iTfièld P Ev8n5 S Rodway A Blyth&Srnith A Nlckson GDOW P Harknèss S WIYi8ms R Harber E Spencer L Bowman LACh6shar IR&slgngd 30 Novsmber20231 {Reskgned 30 NoV￿nbOr 2023) IAppoint9(117April 20231 (Appointed 13 September20231 Cherlty numbgr 1141906 Company number 07206488 prtnclpal address Cogges Manor F8mi Church Lang Oxfordshire OX28 3LA Reglgtwed offl Cogges Manor Fam) Church Lane Wrtney Oxford5hi OX28 3LA Independent examlner Whltley Stimpson Umiled 1&15 High Slreet Witney Oxfordshirè OX28 6HW Approval COGGES HERITAGE TRUST CONTENTS P?go Twust¥es' report Independent examln¢ff$ rèr Ststsment offinanct41 aclivitses 8al8nc8 sheef statement of cash tlrhvs Nots3 to the finaErAal staterneF>ts 9-20 Approval COGGES HERITAGE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Thè INstees present th&ir anfiu81 raport and fin8nryal ststements for the yearended 31 00￿mbar 20¥3. The financial 3¢atsrnents have been prepared in accordanc8 Wth Ihè aC￿u￿t￿l9 poliaes set oul in note 1 to the financl81 statements and comply wlth th8 govemlng drLum8rt, the Companies Act 2006 and 'AcoJuntfng and Reporting by Charities.. Statement of Recommended Prdctic8 8ppIic8ble to ¢h8rities preparing their acxounls in awdance with th8 Flnanctal Repor¥ng Stsndard applicable in th& UK and Republlc of li$t8nd {FRS 1021 lèffedive l JanE*ary 20191.. Oblectlves and actlvlti The objectives of Ihe Trust are lo preserye, protect, devekp and SmpTOVe the archaeological, hIsto￿al. areknltectur81 8rtd énv£ronmentsl h6rll89tr of thè sftè of CcMJg$8 Manor Farm and aBswat&Y land for the benefit ol the people of Oxfordshire and the members of tho whjer publrc such as vlsilors to Ihg ¢ounty'. and to advan￿ Ihe education of the pvblic in an understanding of rural herttage and contemp)rary and fijture tamiing and food prothJctk)n. The Trust. with the continued support of approx. 2SO volunteets and sm811 tèam pald slaff. continues to b8 a strong altraction lo the lornl 1￿mUnity &8 well as those from fvrthef afield. The trust has re¥Aewed and ¥efreshed the offer to ensum we are ctrnt 8nd wrfh a partltyJJar focus ort famili85 Chli dr8n. 2022 wa8 a y88r for Coggg$ and ind88d the whole sector in vknich Cogges oper8tes. however 2023 ha8 $a*n An Improvemènt In fortun•s wlth vlskor numbevs h8vlng increas￿ yo81 On y8ar. ThK$ Is largely du8 to g r*￿sh of the offer spearheaded by the executive in addition oui trading year was exiended with activity 11 months of the year. As part of this refresh Cogges is now back to hosting a full and vailed evenis schedule whtch has reinvlgorated the organisatson and b88n 8 key p8rt of r8cAJn¥58cNn9 With the bc85 community. Th858 induded lh8 B88F 8nd Cider FestlV81 al￿ BHJ band In the bam and other famity evenls suc* os th8 Summer and Havvesl FayTe'8 to enhance the offer forday viwtors and drive the 58le of annu81 membership. School visits grew year C￿ year with Ccgges o)ntinuwJg lo be an impaclfrjj and educalK)nal gxpeiienr* tr young people. Cogges Heritage EnlerwseB performed well wltt) ¢afè 88Ee8 inw84ng by ovar 13%. th18 W8$ 8fso tx)18torod by the events pwr8m. The (3fè is also n¢)w market8d 85 a d&5tinalron in itsetf 8ThJ nurbjring rngular Ictsl fooff8N. During the yèar the dedséon was taken lo nw)ve retail opeialions from Enteorises to Trust to better refiect the economic reallty of Ihe operalions. W8 o)ntinued to b8 funded by the NaUonal Lottery Heritage Fund INLHFI in the year in order lo continue improving oui offering, thi8 fijnding a8 been key in ¥¢hlevlng the improvemènt in flnanclal performAnce and Impad In 2023 year on y$ar. Approval COGGES HERITAGE TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnanclal revt8w For 2023 Ihè T¥ust lYKwrred a defi¢it after depredallon. in tg8pec* of unles1r￿t￿ aelknts88 of £90,581 12022 - £206,459}. The deiails of th$ finanTh81 perfonTranco are shovm In Ihg lollo*ing statements ot actx>unt forthe period ended 31 December 2023. As mention6d in the Trustees repy)rt, 2tr22 was 4 diffiojll year for the enltty lèafing to vlew of thè opornting 8thifi8s, Income and expenditure going In to 2023. Thls review led to th8nges wsth regard to the offering of the enuty and resulted in improved financial ￿rf0m￿Snce whgn compared to th8 Prtor year. This trajèctory Is promising fvrfiJtur8 pwiods. The Tntst contlnues lo th8rgo Cogg8s Heritage Ente￿riseS for us6 of Tnjsl rosources induding stsffing, based UKK)n apporbtsning those costs ¥thKh relate to the daily op8ration of both organlsatlons C￿ thè of Ihe percentage of tot81 In(xm8 gèner8led by lh8 raspethe OTgantsation$. exduding certain In￿Me such as grants and gfft aid. This ba%s of awtiortmont ￿11 bè képl under review. Any profft thg trading Company makes after these eh8rges b6 donatsd to th8 Trust. Thè traè rèsgrves of the charity as at 31 December 2023 ￿18 £557,06612022- £647,647). The Trust has detemithod lh* It wlll m8intsin a cash reseNe of £gY).O(YJ 8qusvat8nt to approxinatety three months. operating costs. This wll b8 kept under ￿￿ow. The TTUSt's current pollcy contsmlng Ihg p¥yment of trade crndltors Is lo folk￿ tho CBI'S Prompt Payers Code (¢oplg8 ale 8vallable from CBI, Centre Point, 103 New Oxford Street. London, WC1A IDUI. StrUC￿l*j govornan￿ and managgment Thg Truste9$ have established four c4Jmmittees rapu￿ng dlre(#ty lo the Trust Board.. Flnance and Property Committee, P￿pIe and Logal Cornmitt8e. Business Development Group and Development Committee. The 8pkYxnlment of new Twstees is by resolution of the 6xlyting TfUSt885. The Trust's ￿nstItUtion proth for mlnlmvm of S Trust6os lunl•ss olho¥wi86 d8torrnined by ordinary resoluttonl but ther• Is no m¥xlmum mirrd)er of Trustees. Two Trustees must be resident in Wrtney or one of th8 sum)unding parishe5. None of the Trvstees has any beneficial Snterest In the TnJ¥t ry Cr)rnpany. Al of the Tnjstees are M￿n￿r$ of th Company and giJar8nte8 to c4Jntr6bute £1 In the event ofa I￿ndIng up. The Tnjstees have develoFed a rfsk management strategy whlth LY)mprf888 lil an annual review of the risks faced by the tharity. and (ill Ihe estsbli3hrnent of systems and procedures designed to manag8 thosg iisks identrfted. Th6 primary risk faced by the Twst Is that li Is unablè to kl¢ntify 8nd secure 8vffiryent funding to keep lh6 she open to the public. Twstees and rnanagemenl are mlndful of Ihis rtsk and tskè •v•ry opwjrlunty to identify new sOU￿*S of In(x)m& and expknre developments lo the site tn order to attract e w#Jor range of vlsltors. Pe￿r Parminder Chana wa8 a trustee apF¥Jlnted 13th September 2023. who ￿l9￿*d on the 28th Nov8mber 2024. before th& dat• of signÉn9. Approval COGGES HERITAGE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The truslees, who are alsts the dir8ctors for the Pufpose of Lxjmpany law, 8Fid who served d￿]ng the yaar ar￿ up to the dale of signature of the financi?1 statements were-. J Bradshaw G MeTifield P Evans S Rodway A Blyth&Smith A Nid(son GDOW P Harkness S Willkims R Harber E Spenc&r L Bowman LAChesher (Resigned 30 Novomber 20231 IRe5tgR8d 30 November 2023) (Appointed 17 April 20231 (Appolntad 13 Sgpternber 20231 Public bBnafit The Tru5taes awarè of thèir public benefit duties and confjm7 that they have pald dua regard to the gu￿anCe on public benefit in deciding what activitles (h6 Trust s￿￿tsId undert8k8. Thè trustee port W88 approved by the Board of Trvstee5. dshaw Date-. 16.12.2024 Approval COGGES HERITAGE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COGGES HERITAGE TRUST I r¥port to th& twslees on my examIna1t￿ ofthe finandal statement8 of Cogges Heritage Tnjst (the tharitylfor the year •nd6d 31 DecerTthr 2023. Responslbllltlg5 and bas1¥ of roport As the trustees of Ihe charity {and also fts throdors for the purposes ot ojmpany Lqwl yov are rnsponBlble for U)8 pTrp&r8tion of tha finand813tslements in a¢)xrdanL* ¥￿th th¢ reqUiren￿nts of the c￿panI&S Act 2C%J6 (the 2(#J6Acti. H8vlng Satisf￿d myself that the flnancial statements of the eh8rtty are not requlred to b8 audRed under Part 16 of the 2006 Act ansj a￿ elfgible ftsr indepèndent examination, I reFh)rt In rwLt of my 9xamtn8tion of thg thariws finandal statenwnts canied out under secttiM 145 of the Ch8ritiesAct 2011 (the 2011 Act). In (￿r￿ng out my examinatson I havo followed 811 the applicabte Dlyoctions giv8n by the Charity Commission under 8ectlon 14515llbl of the 2011 ACL Indepondont •xamlnoe¥ gt•tgmont Slnco Ihg Charit￿8 gro85 Inwme exceeded £250,000 ￿￿r ex8mlnar must bg a rnember of a b)dy lisied in seciton 145 of the 2011 ACL l a>nfirm that l am qualffsed to undertake th6 exthnatlon l am a mgmb8r of th8 Instltute of Chartered A￿C￿J￿t8nts In England Wates. vthich is on8 oflhe lisbj bcxjtos. I have completed my exBmlnaUon. I ￿nI*M thgt no motteF3 fr>ave corne to n7y attention in o)nneclion wlth lh• ex8mination gwing me ¢aLtS8 lo belleve that In any matarral Mspact accounling records We￿ not kapt in raspaci of the charity as requlred by 8ection 386 of the 2006￿. or the finanaal statements ￿ not a(cord with thoso rgco¥ds', or thè finanoal stat8m8nts dg not (x)mpty wffh IFK? aCrnun￿ng requirem8nis of s8elkJn of thè 2006 other than any ¥equlrem&nt thot tho a¢xx￿nts givè 8 true and tsirview which is not a matter conydered as part of an independenl examination., or Ihg finanryal staiements have not been proparod In 8￿rdani* wllh the 8nd prindpl88 of Statem&nt of RoLX)mmènded Pr8cbce for arzounting and reporling by charities apptic4ble to charitigs preparing their ao)Junts In accordanc* thè Flnandal Rèporttng St8ftdard 8ppFirable in the UK and Repub￿¢ of Ir818nd {FRS 1021. I have no concerns and have come aL70S5 no other matters in LxMn*ction w4th the 8xomin8tion to attantlon shoukl bg drawn in Ihts report in to enable 8 proper under5tsndlng ol the finartdol StateM￿ts to be reached. LauraAdkins Bsc (Honsl FCA embeT ofthg Instittrte of Chartered Accountants in England and Wa Whitley Stirnpson Limit 13-15 High Sireet Wrtney OX28 6HW Daled.. 16.12.2024 Approval COGGES HERITAGE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrèstrlcted Restrided funds funds 2023 2023 Total UFFr•8trlct•d R•strlct8d funds funds 2022 2022 Total 2023 2022 Not Income and ondowmfrnts from: DonatK)ns and legados Charitablè actlvthès Other income 6.817 355,966 64,085 150.896 157,713 355,966 64,085 119,593 121,933 267,259 79,8d4 267,259 79,844 Total Incomo 426.868 150,898 577.764 349,443 119.593 469.036 Exp8ndltu¥è on: Raising funds charitab￿ activib85 Other expendllure 77,211 440,238 77,211 628,770 39,342 510.200 6.360 39,342 885.076 6.360 188,532 374.876 Totsl •xpondlluF* 517.449 188,532 705,981 555,902 374,875 930.778 Net expendlture and movom8nt In fvnds 190.5811 (37.6361 1128.2171 1206,459) 1255.283) 1461.742) R8con¢lllatlon of funds". Fund balances al 1 January 2023 647,647 44.372 692.019 854.106 299,655 1,153,761 Fund balances at 31 l)ecomber 2023 557.066 6.736 563.802 647.647 44,3n 6W2.019 The siatement of finandal actlvttle5 Indudes all gall￿ and IosBes recogntsed In thg year. All income and expenditu derive from oJntinuin9 8clÈvities. Approval COGGES HERITAGE TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Flxed assots Tangible assets Invastmenls 13 14 289,354 10,000 337,232 io.ooo 299.354 347.232 Curnnt a8sets 15 16 17 6.165 35.777 125.866 14Q,697 Debtors InVe&+n￿nts Cash at bank and in hand 83,045 247,609 117.014 308,505 447.668 Cr8dMoTS: amounts tslllng due wlthln one year 18 144,0571 1102.881} Nst oJrrw)t assets 264.448 344.787 Total assets less current Ilabllltl•8 563,802 692.019 Incomè fund¥ Restricted fund8- general Unrestricted funds 21 6.736 557,066 44.372 647.647 692.019 Approval COGGES HERITAGE TRUST BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023 The company Is entlllèd to the exemption from Ihè Èthlit requwient t))ntBlnwJ in section 477 of Ihtr Compgni&s Act 2006, for the year ended 31 De(xmber 2023. The dire(knTS acknothge their responsibiltues for r*JFnptying wrth the r6qufr8rn9nts of the Cumpan￿5 Ad 2006 vthh respect to accounlng records and Ihe preparation of fin8nC581 statements. The members have nol rgquir8d the o)mpany to obtaln Btl 8udit of its flnancial stalemonts for the year in weslion In 0¢￿rd9nce with section 476. These financtal statements have been prepar￿ in acÈx)rd&n¢e the p￿￿910n5 apOic8ble io companiBs subject to the srnall companies reglmB. The fina 'al statements warè Approv￿1 by the Truste8s on ... ... ..... ..... . radshaw Company Regl8trailon No. 07206488 Approval COGGES HERITAGE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operallng ?divtti C8$h 8b8orbed by operations 25 {82.4191 1361,5471 Inv•stlng actlvllles Purchase of iangible fixed assets Proceeds from disposal of inveslments (15,641) 121,743 18881 343,163 Net cash gonerated from Invostlng ¥¢tlvMI 106,102 342,495 Net cash used In financing actlvltles htet Incre88èlld•cre•g•1 In c•sh and ca¥h aqulvalgnts 23,883 119,0521 Cash and cash oqulvalents at toglnnlng of year 117,014 136,066 C8sh and cash •qulYat•nts at •nd of y•aF 140.697 117.014 Approval COGGES HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poltd98 Chartty Infornmtlon Ccgges Heritage T￿￿t Is a privatè Ixmnpany limited by guar8nt&8 incofpoT81ed in England and Wa￿. Thg fagislar£d Offi￿ Fs Cogges Manor Fanm. Chuych Lano. Wttney, oxf￿ShITe. OX28 3L 1.1 AC￿untIng coDv•ntlon The financsal stat8m$nts h8ve been prepared In acxord8n(* wlth the charity8 governlng do¢umgnt, th8 Companie5 Act 2006. FRS 102 The Fin8nual Reporting Standard appliLxb18 in the UK and RepU￿*C of IAnd' fFRS 102"} and the Chartdes SORP "A(xounUng and Reporting by Charibe8.' stsI￿rent of Recommended Pradce 8ppItC8bta to charities Preparing Iheir accounts in accordance vAth lh& Flnandal Reporting Standard aP￿ICable In the UK and Republlc of Iretand {FRS 102). lèffed(v6 1 January 20191. The eh8rlty1s 8 Public B8nBfft Entity 88 defined by FRS 102. Thg financi81 statsrnents are prepa￿ In sterfing, which is the knncl#Jn8t ujrrency of thè charity. m￿8tsry amounts In Itwe fjn8nc¥818tatements aro rounded to the nearest £. The financaal slaten￿ntS hava baen prBpared under the hi8torical cost o)nvenllon modth8d to indude ￿rtain n8nc481 in5trum8nts ¥tf8ir Y￿￿8. The princ4pal accountltYJ pollo85 8(k)pt8d are set out beltrw. 1.2 Charltable fund$ Unrestllcted fvnds are availabJ& for uso at Iho discretion of Ihe trustees In fiJrthotanc• of thalr charltsblo obledva Restrlct8d fttnds Orn subJ8Ct Io ¢>Mditsons by donors or gYantor$ as to Ihty may bp used. The pury)08es and of ihe restrf(aed fiJnd8 arè sat out In th& not88 to the ftnancaal slaternents. 1.3 In¢èmlng wourc Inf>)mè Trs rgwni8ed vhwi the tharity J5 legally entlued to It afterany perf0m￿ne9 (XJ￿￿rt10ns have been ￿t, the amounts can be measured reli8bty. and it FS pry)b8ble that income wll b8 received. Tho chawe mado by Trust to subsidiary cornpany, Cogges Herilage Ente￿IlSe$ Umtiod. for of Tt8 r880UT¢es, indudlng staffing, Is based Upon appO￿onIng Ihw L¥)8ts which reLqte to the daily operauon of both org8ni581ion5 on the percfjntage of total income genetated by the respacbve ory8ni58fjons, exduding certaln Income. such as grnnt8 a￿1 gfft Cash donations are reo)gnised on rec*¢pt. Other donallons ore wg)gnl$ed on¢¢ the tharity has of lh8 donation, unbss performance crndltions wuire dof8rral d tho amunt. In(t4n8 tsx r9￿ra￿e in relauon tr) donallons r￿￿e￿ undèr Gfft Aid or deeds of covenant is recsjgnised al the time of the (knation. Incxjme from grants ig ￿n¢Sed where k entilemnt and All eondibons for receipt have been meL Income from thwilable acbvl1￿S indudes income rec4)gnised as eamed las the r8lated g￿ld8 or 8ervice5 are providgdl under Lx)Fitrad. Approval COGGES HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng poll¢l ICMtlnu•d} 1.4 Rè¥ourcoB oxpended Expendilure is recognlsèd on an acuuals tsa￿s as the liability Is Incurred. Expenditurè Intludas any VAT vthich e8nnot be recovered. and 15 r8POrted as part of1119 gxpgnditure to whlch It rg18les. Charitable expenditure comwises those o)sis Incurred by the chailty In thg (lelfvery of 6ts a￿l￿S 8nd setvlc8s to beneficiaries. 11 indudes both the that b8 allocated ditedy to such adivitses and those Jsts of an indlr8Ct nature necessary to support thgm. Govemanca cxjsts include Ihose costs 8&yocialed vAth medng thg u)nsUtuiional and statut(ry requirpnEnts of the charity and IndudÈ the independent examlneY5 fees linked to the stratègic management of thè eharfty. 1.5 Tanglble fixed assets Tangible fix￿ assels are initi81ty measured at cost and subsequently maasurafl 8t ¢y)st or vdualkm, net of dgpreryation and any Impalmient losge8. Tangible fixed ass&ts don8t8d to the charity are lnrtlalty measur&J at fair valuè of the drylation. They are $ubsequentty Shown net of depreuatkjn and any impaimwnt105W. DèpreLiath)n is reo)gnFBed so as io wrltè off the cg)st or valuatlon of ass6ts1088 their residual values over thelr usefijl lives on the followlng base3.' FreehcAd propety impnjvemènts Fixbjres, fittings OMI equipment 10% stralght ling 20%- 2S% reduring balance The gain or loss arising on th& dlspJs81 of aEt asset is d8tannkn8d 8$ thg dTrYerence b&fv48en Iho $819 proc8gds and the ¢afrylng value of the asset. and Is reccgnlsed in the statement of fiftancial aclivitses. 1.6 Flxed assèt Invèstm•nts Fixed asset Invèslments are In￿allY measured at transaclion price exduding transaetK)n costs, and are subsequenuy measured èt fair value at each reportlng dAle. Changes In fair value are reo)gnlsed net In0)ry￿/{¢￿Adttur0l for the yeor. Trnnsaction o)8ts are expensed as incJJrnd. Interests In subsidiaritrs are initsally measured at cost and $ub89quenlly measumd 81 L¥)sl less any accxjmulated impalmient los￿$. The investrnents ar8 ossessed for Imp8lrment at each Teportlng Jrtrolled by Ihe charfty. Conlml 18 Fower to govem the flnandal operating pojiaes of the entlty so 85 to obtsin benefits from ils a(*vlllgS. 1.7 Impairni•nt of fixed ass•ts At each r8POrtirig end date, the c*arity revfews iha c¢rylng an￿Unts ol ils langlble a￿ts to detemlne whether Ihere is any indicatlon that tho$e 888ets h8ve 8uffered an impalnnent 1058. ff any such indication exlsts, the ¥g(x)verable amount of the asset Is ¢stimatod in order to delermlne the exi6nt of thg Impairrnent loss Iir any). 1A Stoe St¢)d(8 are stated al the lower of ￿}51 8fid 881imated selling price less casts to ￿mplete and sdl. Cost comprfsas di￿1 materials and, where appllc8blo. dlrect labour and those overheads that have been in bringing the stocks to their present IcKation and condition. Items h81d fry distributrjn at no or nomlnal o)nsideRtlon are measured the lower of repla￿ment ￿st and cost. Net reallsable valuè Is the esllmaled selling piicé l&ss all esttmated costs of completion and costs to be incurred in marketing, selling and dTrsknbution. 10- Approval COGGES HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollel85 Iconflnued) 1.9 Cash and cash equ￿1￿nts Cash and cash equN8lents indude cash in hand, dep￿tts htsld al call wth banks and other skM)rt-temi fiqutd investm&nls vAth OTigin81 maturities of three months or16SS. 1.10 Fln#ncial instrum•nts The charity has elected io apply the prov(slons of $8dK)n 11 'Bastc Finanry81 Instmments. and Saction 12 'Other F#)andèl Instrurrrt Issue$, of FRS 102 to all of its finaneiol instruments. Fin8ncio1 instntments are recognised in the charilFs bslènce Sheet when the charity becomes party lo Ihe contractual provisions of thè Énslwum9nL Flnandal ossèts and IL*bilities are offset, with the net amounts prasentad In tha finandal 8ts1ements, vthen there is a legally enforceable ￿g￿l to Set off Ihg recognssed amounts and there is #n IntentK)n to S8ttte on B net basls or to realise the asset and settlè lh$ Iwbility 8imuK8neousty. BASIC fln8ncFal #88•ts Baslc flnanaal ass8ts, which Indude debtors and c48h and bank balances, are Inltially measwr&J at transaction price including transaction costs and are S￿bSeqUentIY Carri￿ at amorti5ed cost using the 8ffectivè in18r85t tnethixl unlgS8 Ihe arrangement (￿stItyjtes a financlng transactkpn. vthere the Iransadon 18 measured at the presènl v8lu8 of thè ftrture r8ceipts dI$￿unted at a market rate of interesL Financ1￿ assets daSsff￿ as rec8wable within one yeararn not amort6sgJ. Baslc flnanclal lJabllltl•s B8sic fin8nual li8bilKl8s, Indudlng ￿ditOrs, #re Inrfially rwnised at transaclron Price unless the arrangement o)nsbtules a finanung Iransaction, where thè debt Inslrum￿I is m8asured at thg pr8senl valuo of the fvture p8yments dt8counted 81 a market rate of interest. Financial 11a￿.11tieS dassiffied es Payab￿ within one year are not am0￿$&d. 1.11 Employee b•n•ffts The cost of any Ltnused hoKd8y ènlil¢ment 1$ recA)gni3ed in the period in which the employee's seNces are received. 1.12 Rotlr•mont b•n•llts Paymonts lo defined o)nlributK)n rsllr¥￿nt bengfit sth8mas are ¢h¥r9ed 88 an exp8nse as they fall du& 1.13 Group aecounts ex•mptlon The ￿rnpanY has taken advanlage of Ihe eXempuc￿ under secticfi 399 of the Companles Act not to prepare consolidated de￿U[7ts. on tho basls that Ihe group of whith this i¥ th8 parant qualifi85 as 8 small grovp. The finandal Staterr￿[S present infowmation at(Jut the c4Jmpany as an Indmdual ert￿ty and not about its gro￿. Crltlcel accwntlng e8tlmat•s and Judownent8 In the applicauon of Iha chartty's actounting pdlcjes, the lYustee$ we requlrsd to maks judgom•nts. 85timates and assumptions about Ihe carying amount of assets and liabilities that are not readily apparent from other sourc85. The estimates and 83souated a58urnptions 8r8 b8sed on historical e4)erience and other factws that are ￿nsidered to be relevant. Actual results may drff8r from these esÈimates. The estlmates and undèrfylng 8$sumptions are ye￿&Wed on an ongoiNJ b8sL8. Revislons lo aCc￿jnI1n9 estimates are recwnised In Ihe period In whkh the estlmate is revlsed where the revlslon affects only that perio)sts 195.798 9,621 6,648 r28.005 6,822 7,565 212.067 242.392 There were no employees whose annual remurwath)n was £6O.¢x￿ or more. 11 Othgr Unr4strlcted Unr•strlcted fund8 fund¥ 2023 2022 Net1058 on dispo8￿ of tsngiblg fixed as80ts 8,360 12 Taxatlon The chaFty 1$ exempl from laxalicffi on it$ adivitre8 bgcause 811 Èts in¢y)me t8 applrgd for charilabJ8 PU￿0$eS. 14. Approval COGGES HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Tanglbk fixed a#￿ts FTg8hotd Flxturns. property fittln95 and Improv•m•nts 8qulpmpnt Total Cost At l January 2023 Addilions 486.997 142,109 15,641 629,106 15,641 At 31 December2023 488,997 157.750 644.747 Depreclatton and knpalnn•nt Al 1 January 2023 Depreciation tharged in the year 214.027 38,787 77,847 24.732 291,874 63,519 At 31 December 2023 252,814 102.579 355.393 Carrylng amount At 31 December 2023 234.183 55,171 289.354 At 31 December 2022 272,970 64.262 337,232 Freehdd 18EKI and buildings 8 C8Trying amount of £234,18312022- £272.9691 have been p￿￿ged against any IlablllUos owed to Nauonal Horftaga Mamortal Fund. Ilmitgd to 8 m8xlmum of£815.653. On 25 Marth 2020, ¢c4Jg&s Hgpftago Trust 8¢quirod Coggos Manor Farm fnm Oxfor(Jshke County C￿JnCR. The cash o)nsideration for Ihis acquisition was £1. The trustees CA)nsider thls to the rèftect thè falf V8lu$ of th8 proparty. du& to the number of Ixjnditions and rèstrictions Ih8t are att8thed to the fr98hohY propgty. Given these restrictions. the propety is refiected In the restrlcted fund. Ag a o)ndltlon of the transfer of the tttte to Ihè propw. Oxfordshlrè County Couwl hotd tho optNJn repurchasing the property at a cost of £1 on complet%on of sel CLJnditions. The conditlons specffisd are that either the C(yJg88 Manor Farm Heri18ge Centre 18 perrn8nenUy dosed lo rnembers of the publiq or that the Tnjst seNes written noike to Oxfordshlre County Councal of it's inten￿on to disposo of Ihe prts￿[ty. This option is available to Oxfordshire County Counal for 125 year8 from the date of the transfer of the propèrty. b8ing 25 March 2020. 15- Approval COGGES HERITAGE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Flxed asset Investments Investsn8nts Cost or valuatlon Al l January 2023 & 310ecemb8r 2023 10,000 Carylng amount At 31 December 2023 10.OLKI At 310ecember 2022 10.000 20rJ 2022 Other ¥nv6slmonls 1￿MplIS¢. Investments in subsidiaiies 10,000 10.000 Flxed asset Inv•stments r•v•lu•d Invg8¢ments Sn $ub5idTrar188 are rn8a3ured al Cost. Fin8nclal ￿sets forTwhlch tslrv4lue b¢ measured r¢liabty Interests in subsidiaries are initially me8sured 81 wst and subsequently measured al cost W any accumulated Impairment 108ses. In line wlth the a¢ to Cogg85 Herlt8ge Trust to wver operating cos¢s. Al the balance sheet date, Ihe amount due from Cogges Her&tage Enterprtses LimSied was £16,49512022- £172241. 24 Subsldlarlè• These financial statements are separate tharity)Inandal stAtem8nts for Cogges Herft8go Tru$L Deiaifs dthe charltys subskllar18s at 3f Decembor 2023 8r8 as follows: Nam• of undgrtaklng R•glst•r•d offlce Natur• of bu81nes8 of % Held 8hares h•ld Olf•Gt Cogges Hethaga EnterprfsesEngland and Limited W81e$ Fundrafjslng events and ?ctiwli85 Ordlnary 100.00 2S Cash generatsd from operattons 2023 2022 D&fldtfor tho year 1128.217) 1461.7421 ArfIu8trnenls tor IGalnlAoss on dispwl 0ftangi￿e fixed assets tlepreciation and lrnpairmenl of*ible fixed assets 63,519 Movémènts In wothg espltsl: {Iniy88s81 In stocks De¢rtr85e in dèbto {De¢roasgYinrxe8se In ¢rgditor5 {6,185) 47.268 158.8241 13.470 11.405 Cash absorbod by oporatlons 182.419) 1361,5471 26 Anal￿1¥ of Chang￿ In n•tYunds Th8 th8rity h8d no m8t*lal d8bt durlng Ihe yeor. -20-