Combe Down Stone Legacy Trust
Charity No. 1148262
Company No. 07918833
Trustees' Report and Unaudited Accounts
30 June 2024
Combe Down Stone Legacy Trust Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Statement of Cash flows | 7 | |
| Notes to the Accounts | 8 to | 15 |
| Detailed Statement of Financial Activities | 16 to | 17 |
Page 1
Combe Down Stone Legacy Trust Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 07918833
Charity No. 1148262
Registered Office
54A Combe Road Combe Down Bath BA2 5HZ
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
E. Faulkner (Resigned 17 November 2023) G. Gillmore Y. Glenn (Resigned 20 November 2023) R. Machell J.A. Morgan N. Redvers-Higgins R.L. Tatam
Accountants
The Waldron Partnership Ltd 30 Circus Mews Bath BA1 2PW
OBJECTIVES AND ACTIVITIES
The company operates a heritage centre in Combe Down village on the outskirts of Bath. The centre has three functions; to present the rich heritage of Combe Down and the significance of its stone in the building of Bath, to provide a modern educational resource that uses the information available to enhance learning at all levels and be a resource available to the community for leisure activities.
As such during the year the company has received income from hiring the centre to community organisations, the sale of historical books from the centre and from donations.
Page 2
Combe Down Stone Legacy Trust Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
We have continued to review, redesign and add to our displays. We have rearranged several display cabinets with associated images. Added additional rock thin sections to our collection and acquired on loan an exceptional collection of fossil material from the Bath Royal Literary and Scientific Society. We have increased our room bookings for a variety of activities for local groups as per our educational resource remit. These activities include art classes, yoga, archaeology classes, poetry and working closely with the local primary school. We now run regular open days, one per week, and have given lectures for walking groups, University of the 3rd Age, women's interest groups and University students. We have also increased our volunteer base.
FINANCIAL REVIEW
The charity had a surplus of £17,496 on income during the year of £40,639. The total funds carried forwards was £37,710.
PLANS FOR FUTURE PERIODS
As a small charity, we are not obliged to comment on this section. However, we have plenty of future activities planned to include Heritage Open days and a Festival of Archaeology. Our children's space and activities will also be expanded. We aim to continue adding to our activities, room bookings, displays etc. The trust is also working towards meeting the standards set out by the accreditation scheme of Arts Council England.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The nature of the governing document Combe Down Stone Legacy Trust is controlled by its governing documents, its memorandum and articles of association as a company limited by guarantee as defined by the Companies Act 2006.
The structure, governance and management of the museum has been kept under close scrutiny and review, with forthcoming trustee additions with very relevant expertise, interest, availability and enthusiasm! There has been a full understanding by the board of financial responsibility.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
G. Gillmore Trustee 17 March 2025
Page 3
Combe Down Stone Legacy Trust Independent Examiners Report
Independent Examiner's Report to the trustees of Combe Down Stone Legacy Trust
I report to the charity trustees on my examination of the financial statements of Combe Down Stone Legacy Trust for the year ended 30 June 2024.
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 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 your charity's financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements 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 financial statements to be reached.
Marco Andrew Martin FCCA The Waldron Partnership Ltd 30 Circus Mews Bath
BA1 2PW 17 March 2025
Page 4
Combe Down Stone Legacy Trust Statement of Financial Activities
for the year ended 30 June 2024
| Notes Income and endowments from: Donations and legacies 4 Other trading activities 5 Investments 6 Other 7 Total Expenditure on: Raising funds 8 Charitable activities 9 Other 10 Total Net gains on investments Net income/(expenditure) 11 Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 34,279 1,454 45 4,861 |
Restricted funds 2024 £ - - - - |
Total funds 2024 £ 34,279 1,454 45 4,861 |
Total funds 2023 £ 11,189 752 47 3,913 |
|---|---|---|---|---|
| 40,639 330 425 22,388 |
- - - - |
40,639 330 425 22,388 |
15,901 616 425 46,716 |
|
| 23,143 - |
- - |
23,143 - |
47,757 - |
|
| 17,496 - |
- - |
17,496 - |
(31,856) - |
|
| 17,496 | - | 17,496 | (31,856) | |
| 17,496 18,319 |
- 1,895 |
17,496 20,214 |
(31,856) 52,070 |
|
| 35,815 | 1,895 | 37,710 | 20,214 |
Page 5
Combe Down Stone Legacy Trust Balance Sheet
at 30 June 2024
| Company No. 07918833 Notes 2024 £ Fixed assets Tangible assets 13 1,081 1,081 Current assets Debtors 14 1,125 Cash at bank and in hand 36,567 37,692 Creditors:Amount falling due within one year 15 (1,063) Net current assets 36,629 Total assets less current liabilities 37,710 Net assets excluding pension asset or liability 37,710 Total net assets 37,710 The funds of the charity Restricted funds 16 Restricted income funds 1,895 1,895 Unrestricted funds 16 General funds 35,815 35,815 Reserves 16 Total funds 37,710 |
2023 £ 1,442 |
|---|---|
| 1,442 494 20,994 |
|
| 21,488 (2,716) |
|
| 18,772 20,214 |
|
| 20,214 | |
| 20,214 | |
| 1,895 | |
| 1,895 18,319 |
|
| 18,319 | |
| 20,214 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 17 March 2025
And signed on its behalf by:
G. Gillmore
Trustee
17 March 2025
Page 6
Combe Down Stone Legacy Trust Statement of Cash flows for the year ended 30 June 2024
| Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase in trade and other receivables (Decrease)/Increase in trade and other payables Net cash provided by/(used in) operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2024 £ 17,496 361 (4,906) (631) (1,653) 10,667 4,906 4,906 - 15,573 20,994 36,567 36,567 36,567 |
2023 £ (31,857) 481 (3,960) (274) 2,105 |
|---|---|---|
| (33,505) 3,960 |
||
| 3,960 | ||
| - | ||
| (29,545) | ||
| 50,539 | ||
| 20,994 | ||
| 20,994 | ||
| 20,994 |
Page 7
Combe Down Stone Legacy Trust Notes to the Accounts
for the year ended 30 June 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market revaluation of fixed value at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Combe Down Stone Legacy Trust Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures, Fixings and 25% Reducing Balance Equipment
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where 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 due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
Combe Down Stone Legacy Trust Notes to the Accounts
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Other trading activities Investments Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 5,438 752 47 3,913 10,150 616 425 41,116 42,157 (32,007) (32,007) (32,007) 50,326 18,319 |
Restricted funds 2023 £ 5,750 - - - 5,750 - - 5,600 5,600 150 150 150 1,744 1,894 |
Total funds 2023 £ 11,188 752 47 3,913 |
|---|---|---|---|
| 15,900 616 425 46,716 |
|||
| 47,757 | |||
| (31,857) | |||
| (31,857) | |||
| (31,857) 52,070 |
|||
| 20,213 |
Page 10
Combe Down Stone Legacy Trust Notes to the Accounts
4 Income from donations and legacies
| 4 Income from donations and legacies |
|||
|---|---|---|---|
| Donations from individuals Other donations and grants Government grants South West Museums Development 5 Income from other trading activities Sale of items 6 Income from investments Interest 7 Other income Rental income 8 Expenditure on raising funds Costs of generating voluntary income Costs of goods sold |
Unrestricted £ 110 - 34,169 - 34,279 Unrestricted £ 1,454 1,454 Unrestricted £ 45 45 Unrestricted £ 4,861 4,861 |
Total 2024 £ 110 - 34,169 - 34,279 Total 2024 £ 1,454 1,454 Total 2024 £ 45 45 Total 2024 £ 4,861 4,861 |
Total 2023 £ 2 150 5,437 5,600 |
| 11,189 | |||
| Total 2023 £ 752 |
|||
| 752 | |||
| Total 2023 £ 47 |
|||
| 47 | |||
| Total 2023 £ 3,913 |
|||
| 3,913 | |||
| Unrestricted £ 330 330 |
Total 2024 £ 330 330 |
Total 2023 £ 616 |
|
| 616 |
Page 11
Combe Down Stone Legacy Trust Notes to the Accounts
9 Expenditure on charitable activities
| Governance costs Accountancy costs 10 Other expenditure Employee costs Motor and travel costs Premises costs Depreciation of fixed assets General administrative costs Legal and professional costs 11 Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets 12 Staff costs Salaries and wages Pension costs |
Unrestricted £ 425 425 Unrestricted £ 13,512 242 4,679 361 3,258 336 22,388 2024 £ 361 2024 13,244 268 13,512 |
Total 2024 £ 425 425 Total 2024 £ 13,512 242 4,679 361 3,258 336 22,388 |
Total 2023 £ 425 |
|---|---|---|---|
| 425 | |||
| Total 2023 £ 34,668 541 6,929 481 3,742 355 |
|||
| 46,716 | |||
| 2023 £ 481 2023 33,852 660 |
|||
| 34,512 |
No employee received emoluments in excess of £60,000.
Page 12
Combe Down Stone Legacy Trust Notes to the Accounts
13 Tangible fixed assets
| Cost or revaluation At 1 July 2023 At 30 June 2024 Depreciation and impairment At 1 July 2023 Depreciation charge for the year At 30 June 2024 Net book values At 30 June 2024 At 30 June 2023 14 Debtors Trade debtors 15 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals |
2024 £ 1,125 1,125 2024 £ 35 14 91 923 1,063 |
Fixtures, Fixings and Equipment £ 13,698 13,698 12,256 361 12,617 1,081 1,442 |
Total £ 13,698 |
|---|---|---|---|
| 13,698 | |||
| 12,256 361 |
|||
| 12,617 | |||
| 1,081 | |||
| 1,442 | |||
| 2023 £ 494 |
|||
| 494 | |||
| 2023 £ 109 252 1,856 499 |
|||
| 2,716 |
Page 13
Combe Down Stone Legacy Trust Notes to the Accounts
16 Movement in funds
| Restricted funds: Restricted income funds: The Firs Field Fund Total Unrestricted funds: General funds Total funds |
At 1 July 2023 1,895 1,895 18,319 20,214 |
Incoming resources (including other gains/losses) £ - - 40,639 40,639 |
Resources expended £ - - (23,143) (23,143) |
At 30 June 2024 £ 1,895 |
|---|---|---|---|---|
| 1,895 | ||||
| 35,815 | ||||
| 37,710 |
Purposes and restrictions in relation to the funds:
Restricted funds: The Firs Field Fund The fund was obtained to restore the entrance to the Firs Field mine shaft in Combe Down, Bath including the creation of a bench. Funds are also to be used on the interpretation of the space.
17 Analysis of net assets between funds
| Fixed assets Net current assets 18 Reconciliation of net debt Cash and cash equivalents Net debt |
Unrestricted funds £ 1,081 34,734 35,815 At 1 July 2023 £ |
Restricted funds £ - 1,895 1,895 Cash flows £ |
Total £ 1,081 36,629 |
|---|---|---|---|
| 37,710 | |||
| At 30 June 2024 £ |
|||
| 20,994 | 15,573 | 36,567 | |
| 20,994 20,994 |
15,573 15,573 |
36,567 | |
| 36,567 |
Page 14
Combe Down Stone Legacy Trust Notes to the Accounts
19 Commitments
Pension commitments
| Commitments Pension commitments |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| The pension cost charge to the company | ||
| amounted to: | 268 | 660 |
Page 15
Combe Down Stone Legacy Trust Detailed Statement of Financial Activities
for the year ended 30 June 2024
| Income and endowments from: Donations and legacies Donations from individuals Other donations and grants Government grants South West Museums Development Other trading activities Sale of items Investments Interest Other Rental income Total income and endowments Expenditure on: Costs of generating donations and legacies Costs of goods sold Total of expenditure on raising funds Governance costs Accountancy costs Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Staff training Motor and travel costs Travel and subsistence Premises costs |
Unrestricted funds 2024 £ 110 - 34,169 - 34,279 1,454 1,454 45 45 4,861 4,861 40,639 330 330 330 425 425 425 13,244 268 - 13,512 242 242 |
2024 £ - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds 2024 £ 110 - 34,169 - 34,279 1,454 1,454 45 45 4,861 4,861 40,639 330 330 330 425 425 425 13,244 268 - 13,512 242 242 |
Total funds 2023 £ 2 150 5,437 5,600 |
|---|---|---|---|---|
| 11,189 | ||||
| 752 | ||||
| 752 | ||||
| 47 | ||||
| 47 | ||||
| 3,913 | ||||
| 3,913 | ||||
| 15,901 616 |
||||
| 616 | ||||
| 616 425 |
||||
| 425 | ||||
| 425 33,852 660 156 |
||||
| 34,668 | ||||
| 541 | ||||
| 541 | ||||
Page 16
Combe Down Stone Legacy Trust Detailed Statement of Financial Activities
| Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Fixtures, Fixings and Equipment Bank charges Equipment repairs and maintenance General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
3,637 260 782 4,679 361 2 - 462 197 - 521 962 546 568 3,619 336 336 22,388 23,143 - 17,496 17,496 - 17,496 18,319 35,815 |
- - - - - - - - - - - - - - - - - - - - - - - - 1,895 1,895 |
3,637 260 782 4,679 361 2 - 462 197 - 521 962 546 568 3,619 336 336 22,388 23,143 - 17,496 17,496 - 17,496 20,214 37,710 |
1,593 228 5,108 |
|---|---|---|---|---|
| 6,929 | ||||
| 481 9 207 427 115 68 1,559 41 636 680 |
||||
| 4,223 | ||||
| 355 | ||||
| 355 | ||||
| 46,716 | ||||
| 47,757 - |
||||
| (31,856) | ||||
| (31,856) - |
||||
| (31,856) | ||||
| 52,070 | ||||
| 20,214 |
Page 17