ITrroxETER HERITAGE TRUST Trustees Report and Financial Statements For the Year Ended 31 March 2024 Contents Pa8e Information Page Trustees Report Statement of Financial Attivities &7 Balance Sheer Notes to the Accounts 12 Accountants Report 13
urroxEfER HERITAGE TRUST Trustees: Janet Dean frlelen Corbishlev Peter Redfern Zdzislaw Krupski Dave Marriott Penny Krupski Robert Hawkins Elizabeth Common Dig Boot Pam Gouldsmith Charlty Number: 1154215 Status: Registered Charity Registered Address: 34-36 Carter Street Uttoxeter Staffordshire ST14 8EU Accountant: Wynniatt-Husey Limited The Old Bakehouse tlove Walk Uttoxeter Staffordshire ST14 8EH Page I
UThOXEfER HERITAGE TRUST Trustees Report For the Year Ended 31" March 2024 The trustees present their report and the financial 5tatement5 for the year ended 31 March 2024. Principal Activities The principal activity of the charity is to administer Redfern's Cottage.. Museum of Uttoxeter Life, for the benefit of the public through promotion, 5UPPOrt, assistsnce and improvement to the museum. Charitable Status The charity is a registered charity under number 1154215. Releva nt Or8anisations Details of relevant organisations to the charity are as follows: Accountant: Wynniatt-Husey Limited The Old Bakehouse Dove Walk Uttoxeter StalTordshire ST14 8EH Trustees New trustees are elected at the Annual General Meeting by the members of the Trust. The term of office is three years. Trustees Janet Dean 2022, Helen Corbishley 2022 for two years Peter Redfern 2021 Zd2islaw Krupski 2022 Dave Marriott 2022 Penny Krupski 2023 Robert Hawkins lex officiol 2022 Elizabeth Common 2022 for two years Dig Boot 2023 lex officiol Pam Gouldsmith 2023 Page 2
LrrroxETER HERITAGE TRUST Trustees Report (contlnued) For the Year Ended 31 Marth 2024 Statement of Trustees Responslbillties Charity law requires the Executrve Committee. as Trustees. to prepare financial statements for each rinancial year which give a true and fair view of the State of affairs of Uttoxeter Heritage Trust and the re5uIt5 for that year. In preparing Ihose statement5, the Trustees are required to: Select 5Ultable accounting pollcles and then apply them consistently. Make judgements and estimate5 that are responsible and prudent; State whether appllcable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements oft the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustee5 are responslble for keeplng proper accounting recofds. which disclose with reasonable accuracy at any time the financial position of Uttoxeter Herita8e Trust. They are also responsible for safe8uardln8 the assets of the company and hence for takin8 reasonable steps for the preventlon and detettion of fraud and other irregularities. Rlsk Mana8ement The Trustees have examined the principal areas of the company's operatlon5 and consldered the major risks, which may arise in these areas. In the opinion of the Trustees, the company has established resources and review 5yStems whlch under normal conditions should allow the risks identified by them to be mitigated to an acceptable level In its day to day operation. Page 3
roxETER HERITAGE TRUST Trustees Report (continued) For the Year Ended 31 March 2024 Trustees Statement Compared with many similar heritage sites who are experiencing decline. Redferns Museum and Uttoxeter Heritage Trust continue to thrive. For our 5eclor merely balancing income and expenditure s a major achievement. However, Just like other organlsatlons increased energy and facility costs have affected our results. None of our success would have occurred without the enormous efforts of volunteers and trustees. We are very grateful to all of them. Our business plan aims formed the basis for the successful operation and development of the Uttoxeter Heritage Trust for the year 2023124. Namety that the Trust and Museum.. Be considered to be an invaluable asset to Utloxeter and region Be an importanl and popular herita8e visitor attraction Lead the display development and accessibility of local history resources for the region Link in with local town events and developments Become an even more popular café and events venue throughout the year Become a popular heritage linked retail oullet Communlcate effectivety and regularly to a wide range of audiences Support for the museum its activities and expertise contlnue to demonstrate how important the Museum and Trust Is for Uttoxeter and the region's herita8e. Museum membership continues to expand and activities are often booked to such an •xtent that we have had to use other venues outside the museum buildin8. We have continued to attract visitors and 8roups from within the town and from the wider re8i0n. Local history talks have also been given acr055 Staffordshire and Derbyshire. School visits have also increased as the museums resources and expertise become more widely known. Our volunteer archive team continue to improve the accessibility of our resources. A new book on the history of the toyrfn wa5 writlen by ihe team and publlshed in December 2023. This will forrn the basis of a new local hlstory pro8ramme of local history displays and talks in 2024125. These, we hope, will be facilitated by a museum refresh and creation of a new temporary display space in the coming year. Herita8e talks 8iven in a variety of town buildin85 have been extremely popular and will continue into next year. A partnership with Uttoxeter Rotary to deliver activities to support those with dementia has been very successful. Our monthly"Memories' Sessions for the older members of our community have continued through the year. Not only have these given the Museum invaluable recordings of the people of the town. but also have become a popular social event. Page 4
urroxETER HERITAGE TRUST Trustees Report (continued) For the Year Ended 31 March 2024 Our café and attached bookshop have remained popular and provide the financial backbone to everything we do. Their success is due entirely to the dedication of our volunteer catering team. Shop sales make a useful contribution to our bud8et and we continue to expand our offer. Our social media presence remains of vital importance, particularly in promoting our café, shop and heritage events. Our website remains an important information polnt for many and keeping It UP lo date will be important as we refresh our displays and develop new programmes. A challenge for the future will be to satisfy the demand our )cial media presence is startin8 to 8enerate. Signed on behalf of the Trustees...... Date.. Page 5
IirToxETER HERrrAGE TRUST STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted Funds Funds 2024 Totsi 2023 Total INCOME Donations Donations Glft aid income Grants Notes 5,679 5,679 6,100 833 1,7(Xl 8,633 5,679 5.679 Income from charltable activies Membership fees Income from School vi5itS Income from group visits Income from museum vists Incorne from online events 1,055 1,055 1,114 360 98 760 246 1,197 246 1,197 2.498 2,498 2,332 Income from other tradln8 Kt5¥lt*5 Café 5ale5 Savings Interest Received Shop sales Wayfarer tickets Fundraising events Sundry sales 13,378 13,378 10,846 2,587 1,213 4.193 53 21.571 29,748 2.587 1,213 4.193 53 21.571 29,748 3,769 1,753 6.251 22,618 33,583 TOTAL INCOME EXPENDITURE Expenditure on ralsln8 fund5 and charltsble artivltSes Purchases Opening stock Closing stock Event costs Worldpay charges Payroll expenses - Project Curator Promotional expenses Support costs 3,894 2,168 {2,6281 693 454 11,678 1,237 10,377 27,872 27.872 3,894 3,501 2,168 3,162 (2,6281 12,168) 693 301 454 421 11,678 13,128 1,237 162 10,377 7,230 27,872 25,737 27.872 25.737 si TOTAL EXPENOITURE Depreclation 27 46,742 46,768 47,070 Pa8e 6
VQxETER HERITAfjE TRUST STATEMENT OF FINANCIAL ACflVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrirted Restricted Funds Funds 2024 Total 2023 Total Notes Net Income/(expendlture) for the year 1,850 -46,742 44,892 -39,224 Movements between funds NET MOVEMENT OF FUNDS 1,850 -46.742 44,892 -39,224 Total funds as at 01 April 2023 Total funds as at 31 March 2024 24,115 25,965 750,411 774.526 813.750 703,669 729.634 774,526 Re5trlcted lunds relate to the exienslon and ren(wation of the museum. PaBe 7
UThOXETER HERITAGE TRUST BALANCE SHEEf AS AT 31 MARCH 2024 2024 Unrestrlcted Restrlcted fvnd fund 2023 Total Total Notes FIXED ASSETS Tangible assets 6) 80 697,669 697.749 744,517 CURRENT ASSETS Stock Wages control Cash at bank in hand 2,628 4.160 24,062 30,850 2,628 4. 160 30,062 36,850 2.168 7) 29,807 34,974 CURRENT UABIUTIES Creditor5 8) 4,965 4,965 4,965 NEf CURRENT ASSETSI{UABIUTIES) 25,885 31,885 30,(X)9 NET ASSETS 25,965 703,669 729,634 774,526 FUNDS Unrestricted funds Restricted funds Total fvnds 9) 9) 9) 25,965 25,965 703,669 729,634 24,115 750,411 774,526 703,669 703,669 25,965 Signed on behalf of the Trustees:.... .. l J..: l.o..... a L¥ , Page 8
IrrroxETER HERITAGE TRUST Notes to the Financial Statements the Year thled 3tst March 2024 I) ACCOUNTING POLICIES Accountin8 Convention The financial statements have been prepared under the historical cost convention. and are accounted for under the income and expenditure basi5. Grants Recelvable Grants are recognised in full in the Statement of Financial Activities in the year in which they are received. and anythin8 attributa)le to after the year end are then deferred. T•niible flmed assets Tan8ible fixed assets are capitalised at cost of acquisltion. Depreciation is provided at the following annual rate5 in order to write off each asset over its estimated use Fixture5 and fitting5 - 25% reduclng balance Computer Equipment . Straight line over 3 years Marquee - straht line O¥PT 5 years Heritage A55ets Straight line over 10 years Museum building project - Strat line over the period of the lease Stoeks Stocks are valued at the lower of c05t and net realisable value. after makln8 due allowance for ob501ete and slow mown8 items. Unrestrlcted Fund5 Unrestricted funds are donations and other incomin8 funds re1¥able or 8efierated for the objects of the charity without further specified purpose and are available a5 general funds. Re5trlrted Funds Restricted funds are to be used for the spe¢ific purpose as lald down by the donor. Expenditure which meets these crTrerla Is charged to the fund. Taxation The charlty Is exempt from tax on Income and 8alns fallln8 wlthln sertlon 505 of the Taxes Art 1988 or sÈrtion 252 of the Taxation of Char8able 8alns Act 1992 to the extent that these are applied to Its charltabte objects. FIMndal Sn5truments The charity only has financial assets and liabilities of a kind that quallfv as basic financial instruments. Basic financial instruments are initially recoenised at transaction value and are subsequently measured at thelr settlement value. 2) CHARrrA8LE 5fATUS The charity has registered Char Status under number 1154215. Page 9
IITfoxETER TrtERITA6E TRUSr Notes to the Flnanclal Statements For th• Year end 31st March 2024 31 RELATED PARTY TRANSACTIONS AND TRUSTEES. EXPENSES AND REMUNERATION The trustee5 4116ive freely their lime and eipertise wiihout any form of rernuneratn or other benefit in cash 4) STAFF NUMBERS AND C05T The average number of persons ernployed by the charity durin8 the year was I12023- 11 The a88regate payroll costs of this person were as follows.. 2024 Wales •nd 5alarle5 Pen51on (Deflned contrlbutk)n scheme) 11.342 335 11,678 No employee recelved enoulmen15 above £fj0,o durln8 the curreni or precedini year. I mcvnbei of stafl12022- 1115 Kcruing retlfemeni benefits under defined contribtrtion schernes. 51 SLIPPORT COST5 Unrestricred Restricted Total Support costs Insurance ght and heat Water Rent 1,232 5,566 345 1.232 5,566 345 94 121 Repairs and maintenance Museum housekeeping Stora8e Computer costs Prlntin& post4e and stationery Sub5cripilons Sundry Telephone Travel 121 75 75 1.029 183 1,029 183 531 531 Consultancy ond archliect fees Accountancy DeprecSation 1.2 1.2LWJ 46,768 27 46,742 10.403 46,742 57.145 Support costs minus d•pr•ciatio 10,377 10.377 Page 10
urroxETER HERITAGE TRUST Notes to the Financial Statements For the Yc•r ended JIX Mar(h 20Z4 6} FIXEDASSEf5 'fv1useum Buildin8 Office PfOl&Yt Lbinent rixtures & Fixtures & Office Fitttnfjs eqwwnent Marquet TOTAL TOTAL TOTAL Restricted Restricted Restricted Restntted Vnrestricted Unrestricted Unrestricted Unrestriaed As at l Awil 2023 Addlon5 928.453 273 934.235 3.160 281 753 4.194 4.4?9 iSP05als As at 31 March 2024 928,453 2,873 934.235 3.IfA¢ 281 753 4.194 938,429 D•pr•cl•tion As at l April 2023 Charle for the year Oisp05als A> ot JI Mafth 2024 185.195 46,454 1.720 189.824 46,742 3.054 281 7S3 4,088 27 193.911 46.768 27 231.649 2.CrfJ8 236,566 281 753 4,114 240.680 Nel Book Value As •t 31 March 2024 696,804 743.258 697,669 744,411 80 697.749 744,517 As at 31 March 20?3 1.153 106 106 ' The charlry tss a lease for the property untll 2040. 71 DEBTORS 2024 2023 Unrestred fvnds W8ie5 contr 4.160 4,160 •1 CAEDITIX5 2024 2023 Unrestrlded lunds Trade creditor5 3.765 1,2 4,9GS 3.76S 1.200 Accrued expenses Restrlded fund5 Trade¢redltors Totsi tt¢dllixs 4.965 4.965 91 FUNOS Balance •t I Inc(Thlni Aprll 2023 fvnds 8alance at 31 Mah 2024 Transfer Funds used Unfestrlcied funds 24.115 29.748 27.899 25.965 Restritted funds 750.411 774,526 46,742 74,640 703.669 729,634 29,748 Reslricted funds are onfy to be used for the speclfic deygnated purwse. At 31 March 2024, the tTUSt had a restn.cted fvnd rnalnly relatin8 to the capits113ed museum buildinK project amounts'n8 to £696.80412023- £743.2581. Page 11
UTTOXETER HERITAGE TRUST Notes to the Flnancial Statements For the Year ended 31st Mafch 2024 10) Af4ALYSIS OF NET ASSEfs BETWEEN FUNDS 2024 Unrestrirted RestrKted Total Fixed assets Current assets 697.669 697,749 36.850 14,9651 703.G69 729.634 30,850 14,9651 25,965 Cufrent liabilities Net assets 111 GOING CLWKERN Af the date of approvln8 these accounrs, the irullees conslder that the charity Is a 8tyng toncern. The charity is showirtg Significant increases in trad• and has still been supported by 8overnrneni 8rants, which allowed the charity to remain SYeSSfUl. The lthure cash flow of the charity is constantly bein8 monitored, leaving sufficient funds to keep the charity ru The trustees are confident •t this point that the charity has adequate restyJrces to continue •5 • 80in8 concern. Page 12
urroxETER HERITAGE TRUST Accountants Report to the Trustees of Uttoxeter Herlta8e Trust for the year ended 31 March 2024 Respertlve responslbllltles of the Trustees As described on page 3 you are sponSible for the preparation of fjnancial statements for the year ended 31 March 2024 set out on pa8es 4 to 7, In accordance with your instructions, we have compiled these unaudited financial Siatements in order to assist you to fulful your statutory responsibilities, from the accounting records and information and explanations supplied to U5. Wynnlatt-Husey Ilmlted Chartered Accountants The Old Bakehouse Dove Walk Uttoxeter Staffordshlre ST14 8EH Date: 31st July 2024 Pa8e 13
urroxETER HERrrAGE TRusr Accountants Report to the Trustee5 of Uttoxeter Herftage Trust for the year ended 31 March 2024 Respective responsibiltties of the Trustees A5 described on page 3 you are responsible for ihe preparation of tinancial statements for the year ended 31 March 2024 set out on pages 4 to 7. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulful your statutory responsibilities. from the accountin8 records and information and explanations supplied to us. Wynniatt-Husey Limlted