## **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