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2025-09-30-accounts

Draft Financial Statements at 12 November 2025 at 20:00:42

Charity registration number 1157686 (England and Wales) Company registration number 07021953

HERITAGE IRONWORK TRUST LTD

T/A NATIONAL HERITAGE IRONWORK GROUP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms B Griffiths
Mr A Legge
Mr A Thearle
Mr B J Hall
Mr D G James
Secretary Ms S Hibberd
Charity number (England and Wales) 1157686
Company number 07021953
Registered office 4 Churchway
Faulkland
Radstock
Somerset
BA3 5US
Independent examiner Andrew Young FCA
Hentons (York) Limited
24 Finkle Street
Thirsk
North Yorkshire
YO7 1DA

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP CONTENTS

Page
Chairman's statement 1
Trustees report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 15

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

This year we hosted a group of blacksmiths from the Artist Blacksmith Association of North America (ABANA) for a week-long heritage ironwork tour and conference. The event was a great success with 40 American smiths being joined by 30 UK smiths for the weekend conference at Holme Lacy campus.

ABANA would envisage repeating this event, possibly every 5 years, and have also asked us to develop an architectural metalwork conservation course in collaboration with West Dean college, with a view to sending small groups over for residential short courses.

Our October conference ‘Tradition and Innovation’ at Hampton Court was well attended by delegates from the craft, conservation and heritage sectors, including a group of Historic Royal Palace surveyors. For this event, we trialed an ‘in conversation’ format, bringing in speakers from Historic England, National Trust, Hare and Humphries, and the Canal and Rivers Trust, among others, to grapple with some of the key issues around traditional and new technologies in conservation work. The day received wide press coverage across craft and heritage sectors, highlighting the variety of thought-provoking considerations that emerged, and demonstrating that conservation is often about asking the right questions rather than seeking firm answers.

At the Worshipful Company of Blacsksmiths’ Annual Awards Lunch in October, the NHIG Award for Metalwork Conservation was presented to Ironart of Bath for their work on Edwardian cast iron public conveniences in Bath’s Sydney Garden. It was difficult to single out a winner from a particularly strong shortlist which included the Jubilee Clock Fountain in Harlesden and chandeliers in Walthamstow Theatre, but this project demonstrated meticulous care and attention to detail from start to finish.

This year, five NHIG Council members have undertaken training to become assessors for the NVQ level 3 in Heritage Metalwork. This is ongoing and the aim is that they will initially begin to assess metalworkers already working at that level (and above). The NVQ level 3 is key to obtaining a CSCS card, so this process will prove extremely useful for heritage metalworkers working on construction sites who do not currently have an appropriate means of accessing site.

Although we were not successful with our initial application to the National Lottery Heritage Fund , we intend to make a new application in early 2026 focusing purely on the creation and delivery of a training plan for the NVQ level 3 in Heritage Metalwork as the first stage of a wider strategy to address gaps in heritage metalwork education more generally.

.............................. Brian Hall Chairman

Date: .........................

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their Annual Report together with the financial statements of the National Heritage Ironwork Group (NHIG) for the year ended 30 September 2025. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements and the requirements of the company’s governing document.

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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".

Objectives and activities

The NHIG is a company and a charity registered in England and Wales and exists to advance the education of the general public in traditional ironwork, ironworking crafts and to promote the preservation of historic ironwork, in particular but not exclusively by:

In achieving NHIG’s purpose of ensuring the conservation of ironwork for the benefit of the nation NHIG’s work can be categorised into the following areas of activity:

Public benefit

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

The activities undertaken are as follows:

Volunteers

All responsibilities relating to directorship have been carried out on a voluntary basis by the Directors. This is an ongoing commitment that requires regular, often weekly, input. Council and working group responsibilities work on the same basis although the level of commitment varies between individuals. Thanks to all volunteers for their help.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Achievements and performance

Significant activities and achievements against objectives

Organisational Developments

Support

Education

We held 3 events this year

Website

Resources

GUIDANCE DOCUMENTS

Total downloads from our website this year stood at 576,00 , a daily average of 1580 downloads which represents a 300% increase on last year.

Top 3 downloads:

FILMS

‘NHIG Films’ resource on YouTube have now had 55,222 views representing 3,100 hours of watch-time .

BOOKS

Total sales

Conservation Principles with Illustrated Guidelines: 450

Materials & Techniques: 325

Specifications: 55

PLANS FOR THE FUTURE

Funding permitting, we will:

Financial review

The financial statements for the year ended 30 September 2025 are completed, available as separate document, and the trustees consider the level of reserves to be sufficient taking into consideration current projects.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The trustees monitor the financial position of the charity at each trustees meeting and also examine other operational and business risks. The trustees are satisfied that systems are in place to mitigate the exposure to the major risks.

Structure, governance and management

The company is registered as a charity (number 1157686) and is a company limited by guarantee (number 07021953), having no share capital with solely charitable objectives. The liability of the members in the event of a winding up is limited by guarantee to an amount not exceeding £10 per member. The registered office is 4 Churchway, Faukland, Radstock, Somerset, BA3 5US.

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 B Griffiths

Mr A Legge Mr A Thearle Mr B J Hall Mr D G James

Recruitment and appointment of trustees

Organisational structure

NHIG is governed by an elected Council made up of 5 directors and 20 elected officers, including Chair, Vice Chair, Secretary, Treasurer, Resources, Publicity, Membership, Legislation, Education/Events, Website, 2 Day CPD & Enquiry Review Group. This team is supported by NHIG’s part time Administrator and Working Groups that are set up as required to run individual projects.

The Trustees confirm that, in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. All Trustees have this year confirmed their identities with Companies House according to the new Identity Verification requirements.

The trustees report was approved by the Board of Trustees.

..............................

Mr B J Hall Trustee

Date: .............................................

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF HERITAGE IRONWORK TRUST LTD

I report to the trustees on my examination of the financial statements of Heritage Ironwork Trust Ltd (the charity) for the year ended 30 September 2025.

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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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.

Andrew Young FCA Hentons (York) Limited 24 Finkle Street Thirsk North Yorkshire YO7 1DA Date: ............................

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
5,495
-
Charitable activities
4
34,672
-
Investments
5
5
-
Total income
40,172
-
Expenditure on:
Charitable activities
6
34,251
-
Total expenditure
34,251
-
Net income/(expenditure) and
movement in funds
5,921
-
Reconciliation of funds:
Fund balances at 1 October
2024
3,411
3,000
Fund balances at 30
September 2025
9,332
3,000		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
5,495
4,988
-
4,988
34,672
12,867
4,264
17,131
5
79
-
79
40,172
17,934
4,264
22,198
34,251
20,413
16,264
36,677
34,251
20,413
16,264
36,677
5,921
(2,479)
(12,000)
(14,479)
6,411
5,890
15,000
20,890
12,332
3,411
3,000
6,411

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

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP BALANCE SHEET

AS AT 30 SEPTEMBER 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
15
Unrestricted funds
16		 2025
£
13,112
(1,060)		 £
280
12,052
12,332
3,000
9,332
12,332		 2024
£
9,184
(3,132)		 £
359
6,052
6,411
3,000
3,411
6,411

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025.

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 .........................

.............................. ..............................
Ms B Griffiths Mr B J Hall
Trustee Trustee

Company registration number 07021953 (England and Wales)

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

Charity information

Heritage Ironwork Trust Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Churchway, Faulkland, Radstock, Somerset, BA3 5US.

1.1 Basis of preparation

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" 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)". 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.

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.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

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:

Plant and equipment

15% straight line

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.

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.

Basic financial liabilities

Basic financial liabilities, including creditors 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

(Continued)

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 Unrestricted
funds funds
2025 2024
£ £
Donations 280 55
Membership fees 5,215 4,933
5,495 4,988

4 Income from charitable activities

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Charitable activities
Training courses
2,530
-
Grants
5,500
-
Publications
4,357
-
Event income and
sponsorship
21,785
-
Fundraising - sponsorship
500
-
Restricted activities
Grants
-
-
34,672
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
2,530
5,899
-
5,500
5,500
-
4,357
1,218
-
21,785
250
-
500
-
-
-
-
4,264
34,672
12,867
4,264		 Total
2024
£
5,899
5,500
1,218
250
-
4,264
17,131

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 5 79
6 Expenditure on charitable activities
2025 2024
£ £
Direct costs
Staff costs 6,201 19,094
Depreciation 79 79
Hotel, travelling and subsistence 4,501 2,228
Room hire 3,100 750
Printing, postage,stationery and computer costs 3,812 2,554
Telephone 60 120
Bookkeeping 804 1,188
Insurance 534 512
Refreshments 8,491 218
Training costs 125 63
Professional fees 4,084 8,020
Subscriptions - 206
Medallions - 470
Stripe and paypal fees 1,354 325
Sundry expenses 146 -
33,291 35,827
Share of support and governance costs (see note 7)
Governance 960 850
34,251 36,677
Analysis by fund
Unrestricted funds 34,251 20,413
Restricted funds - 16,264
34,251 36,677

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

7 Support costs allocated to activities

Governance
Governance costs comprise:
Independent examiner fees
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2025
£
960
2025
£
960
960
2025
£
960
79		 2024
£
850
2024
£
850
850
2024
£
850
79

9 Trustees

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

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1
Employment costs 2025 2024
£ £
Wages and salaries 6,105 18,720
Pension 96 374
6,201 19,094

There were no employees whose annual remuneration was more than £60,000.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

11 Taxation

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

12 Tangible fixed assets

Cost
At 1 October 2024
At 30 September 2025
Depreciation and impairment
At 1 October 2024
Depreciation charged in the year
At 30 September 2025
Carrying amount
At 30 September 2025
At 30 September 2024
13
Creditors: amounts falling due within one year
Taxation and social security
Other creditors
Accruals
14
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 Plant and
equipment
£
525
525
166
79
245
280
359
2025
2024
£
£
-
566
10
1,486
1,050
1,080
1,060
3,132
2025
2024
£
£
96
374		 Plant and
equipment
£
525
525
166
79
245
280
359
2025
2024
£
£
-
566
10
1,486
1,050
1,080
1,060
3,132
2025
2024
£
£
96
374
525
166
79
245
280
359
2024
£
566
1,486
1,080
3,132
2024
£
374

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

15 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 1 October Incoming Resources At 30
2024 resources expended September
2025
£ £ £ £
Colour 3,000 - - 3,000
Previous year: At 1 October Incoming Resources At 30
2023 resources expended September
2024
£ £ £ £
Colour 3,000 - - 3,000
Film 12,000 - (12,000) -
Specifications - 4,264 (4,264) -
15,000 4,264 (16,264) 3,000

16 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 1 October Incoming Resources At 30
2024 resources expended September
2025
£ £ £ £
Unrestricted 3,411 40,172 (34,251) 9,332
Previous year: At 1 October Incoming Resources At 30
2023 resources expended September
2024
£ £ £ £
Unrestricted 5,890 17,934 (20,413) 3,411

Draft Financial Statements at 12 November 2025 at 20:00:42 HERITAGE IRONWORK TRUST LTD T/A NATIONAL HERITAGE IRONWORK GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

17 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 30 September 2025:
Tangible assets
280
-
Current assets/(liabilities)
9,052
3,000
9,332
3,000
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 September 2024:
Tangible assets
359
-
Current assets/(liabilities)
3,052
3,000
3,411
3,000		 Total
2025
£
280
12,052
12,332
Total
2024
£
359
6,052
6,411

18 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).