Registered number: 06936961 Charity number: 1160517 The Dreamland Trust Trading as The Dreamland Heritage Trust (A company limited by guarantee) Unaudited Trustees. report and financial statements for the year ended 31 March 2024
The Dreamland Trust {A company limited by guarantee) Contents Page Reference and administrative details of the charity, its Trustees and advisers Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 10-18
The Dreamland Trust {A company limited by guarantee) Reference and administrative details of the charity, its Trustees and advisers for the year ended 31 March 2024 Trustees K Case (resigned 1 September 2024) RJOY E Van Leeuwen C Messenger (appointed 15 June 2024) S Blackman (resigned 1 June 2024) A Baker (resigned 1 August 2024) D Newman {resigned 1 Augusl 2024) N Dermott (resigned 5 August 2024) C Hudson (resigned 26 September 2023} J Hutson (resigned 23 January 2024) M Pankhurst {appoinled 4 June 2024. resigned 6 August 2024) M Tomlinson (appointed 1 May 2023. resigned 1 September 2023) Company registered number 06936961 Charity registered number 1160517 Registered office 11-13 HaeY Street Margate Kent CT9 1PZ Company secretary C Hudson (appointed 3111212022. resigned 2610912023) Accountants Kreston Reeves LLP Chartered Accountants Montague Pla Quayside Chatham Maritime Chatham Kent ME4 4QU Page 1
The Dreamland Trust {A company limited by guarantee) Trustees, report for the year ended 31 March 2024 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024.The Annual report seNes the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable companys governing document and the provisions of the Statement of Recommended Practi (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)- Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The principal objective of the organisation. during the year. was the restoration of the Dreamland Amusement Park and work on the Activity Plan. The directors, vision is to re-establish Dreamland as a thriving heritage amusement park that brings economic, social and educational benefit to the communities of Margate and the Isle of Thanet. In particular the objectives of the company are: The preservation, restoration. Maintenan and protection of the cinema, structures, plant. equipment and artifacts (the structure and equipment) of or connected with Dreamland Margate as are of historic, cultural, architectural. constructional or scientific interest or exhibit craftsmanship worthy of preservation. - The promotion of public knowledge, appreciation and understanding of the historic and cultural aspects of Dreamland Margate and the area in which it is situated. The promotion of the public access to the structures and equipment and public knowledge, appreciation and understanding of their architectural. construcb-onal, scientific and craft features. Such other charitable purposes of the advanment of education associated with Dreamland Margate and its surrounding area as the directors think fit. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. including the guidance 'Public benefit: running a charity (P82)'. Achievements and performance a. Review of activities During the year 1 st April 2023 to 31st March 2024 we again saw some personnel changes.. We appointed a Chair in May 2023 One of our trustees took over the role of Secretary in January 2023 Unfortunately due to personal circumstances, both our Chair and our Secretary resigned in September 2023. However we welcomed a new Twstee in February 2024 We have not managed to appoint a new chair before the financial year*nd,' the additional work is now shared between the existing trustees. Page 2
The Dreamland Trust {A company limited by guarantee) Trustees, report (continued) for the year ended 31 March 2024 Achievements and perfomiance (continued) Despite the ongoing lack of pemianent office space, we managed to carry out a range of events: In the summer of 2023 we set up and ran our hugely successful Dreamcatcher exhibition, using space provided to us by the operators of the Dreamland Park as per the agreement of Dreamland Centenary Grant received from the National Lottery Heritage Fund. The exhibition focused on the 100 year history of Dreamland and the park's heritage from its origins as the Hall by The Sea in the 1800's right through to the present day. As the culmination of the D100 ntenary project, we featured a timeline with a wide variety of images of the park's history from 1920 - 2020. a full wall mural of the park in 1942. and a model diorama display of hand crafted models of the rides which have featured in Dreamland. The focal point of our exhibition was our Dreamcatcher video booth: this allowed visitors to record their memories of Dreamland Past as well as their experiences in Dreamland Present. A large number of varied visitors enjoyed our exhibition and left behind their impressions of the Dreamland Park: we collected around 100 videos and close to 300 stills. Participants have included the local artist Tracey Emin, as well as the "Wall of Death" rider from the original Dreamland Park. Our youngest participant was a few days old. We also ran 2 very successful Open Heritage Days. one in September 2023 and one in March 2024. Using space provided to us by the operators of the Dreamland Park as per our Memorandum of Collaboration, each of the days served as dual celebrations of the park's rich heritage and acknowledgment of the funding that supported the DHT Centenary projects. We highlighted the historical significance of the Dreamland Park.. visitors had the opportunity to learn about the rich heritage and history of the site through informative eXperIenS provided by the DHT which involved knowledgeable guidan from our team of volunteers. In August 2023 we took part in the Margate Camival procession for the first time in our history. We focused on lebrating the heritage of "Lord. George Sanger: thanks to all the hard work of our volunteers. our group won first prize in the Carnival! In December 2023 DHT collaborated with UCA Canterbury on the Dreamspace project. The DHT team worked with Stage Three BA (Hon) Interior Architecture and Design students from University of Creative Arts as part of their design programme. The students took part in workshops with the DHT and had supervised access to the archive to use as interpretation for their designs. The students presented their perfonnative 'gowns' designs as part of the Dreamspace pop up exhibition hosted in the roller room at Dreamland. We also endeavoured to stay in touch with other charitable Heritage organisations dedicated to promoting the Heritage of items similar to those held by the owners of the Dreamland Park, such as the cinema and the organ contained within the cinema. At the end of our financial year our Dreamland Centenary Grant which we received from the National Lottery Heritage Fund came to an end. We took time in the first few months of our new financial year to write a detailed evaluation of the project. The end of this grant also prompted us to focus our thoughts on the future wellbeing of the Trust, specifically on our funding and how to cover our expenditure. We realise that obtaining another large grant such as our previous Heritage in the Making grant and our Dreamland Centenary grant requires significant input from our trustees andlor professional fundraisers during the application process: both of which we currently lack. As a result, our vision for the next 5 years is to focus on obtaining smaller grants which require less time and input, alongside increasing our own fundraising efforts. These will then allow us to put our own Archive and our volunteers at the centre of our efforts, by organizing regular small events to share the various items with the public as well as Wlth education establishments. As a result in January 2024 we started our preparations for a Charity Gala Dinner & Art Auction held in the summer of 2024. In later 2024 we also obtained the first of our small grants, which will allow us to help the development of our volunteers. Page 3
The Dreamland Trust {A company limited by guarantee) Trustees, report (continued) for the year ended 31 March 2024 Achievements and perfomiance (continued) After the period end. we have also focused on how we can reduce our expenditure. Other than reducing fixed costs such as finding better Insuran policies, the Trustees made the difficult decision to cease having employees. As such the charity's employee was made redundant as of November 2024. The appropriate provision has been made in the accounts. Following the period end, some of our longer-standing trustees decided to resign for a variety of reasons. This we feel will give us an opportunity to rejuvenate the Trust with a range of new Trustees. We are currently considering the best publicity campaign to make that happen. Financial review a. Going concern The Trustees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concem. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. Following the year end. there is a material UnrtaInty in regards to the Charitys cashflow. The Charitys reserves are tied up in heritage assets, with a balance held in cash. The cash balance was not suffInt to meet it's liabilities. The Charity recieved a loan from a Trustee to enable it to meet its liabilities, and is in the process of applying for grants and stsbilising its income structure. The Charitys activities have been reduced whilst this process is underway to stabilise the Charitrfs financial future. Notwithstanding the material uncertainty. the financial statements have therefore been prepared on a going concern basis. b. Reserves policy Charity unrestricted reserves increased from £32,377 to £28,268 during the year. The Trustees aim to hold reserves to an ideal amount that matches 6 months worth of community expenditure. As the community projects are currently on pause whilst the Charity restructures and develops it's long term strategy, the Trustees feel an appropriate reserves level would be £5.000. The Trust is working to plan the work of the organisation beyond the immediate period of the project to maintain the legacy required as a condition of the HLF funding. Structure, governance and management a. Constitution The Dreamland Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 17 June 2009. b. Methods of appointment or election of Trustees The management Trustees who are elected and co-opted are held by the majority vote. Page 4
The Droamland Trust (A company Ilmfted by guarantso} Trusté•s' roport (¢ontlnu•d) for the year ended 31 March 2024 Struetur•, gov•rnanc• and managem•nt (contlnu•d) c. Organlsatlon•l structur• and doclslon maklng The Trust Is organlsed in such a way that Trustees meet regularly In order to manage Its affairs whilst day to day responsibility is del8gated to the management team. d. Rlsk manag•m•nt The Trustaes actively revlew the major ri8k8 that the charity fac88 on a regular basis and remain confident that increaslng reserves. combined wlth an annual revlew of the controls over key financial systams, wlll provid8 suffldent re8ourc6s in th8 event of adverse condltion8. St•t•m•nt of Trust•••' r••pon•lbllltl•i The Truste8$ (who are al80 the directors of the charlty for the purposes of rnpany law) are r88ponsible for preparing the Tru8te8s' report and the financial statements in accordance with applicable Saw and United Klngdom Accountlng Standards (Unlted Klngdom Generally Accepted Accounting Practice). Company law r8qulres tha Twstees to prepare financial statements for each financlal . Under ¢ompany law, the Trustees must not approve the financial ststements unless Ihey are satisfied that they give a true and fair view of the stste of affalrs of tho charity and of its incoming r8sources and application of re8ourc88, Includlng Its Income and expandlture, for that P6rfod. In preparlng th888 flnanclal 8tatements, tha Tru8tee8 are requlred to: select sultablo accountlng poll¢le8 and then apply them con$lstently, obs8rve the methods and princlplas of the Charities SORP (FRS 102)., make ludgments and accounting e8tlm8t8S that are reasonable and pnJd8nt: 8tal8 whether applicable UK Accounting Standards (FRS 102) have been followed, Subject to any materlal departures disclosed and explainod in th8 financi818tatements; pr8par8 the flnancial statements on the going concern ba81s unle88 It 18 inappropriate to presume that the charlty will continue in busin888. The Trustees are responsible for ke8ping adequate accounting records that ara sufficient to Show and explain the charftys transactions and disclose with r8asonab18 accuracy at any time th8 financial position of the charity and enable thém Io 8n$ur8 that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and h8n¢e for taklng reasonable steps for the prevention and detection of fraud and other ifregularities. Approved by ordar of tha m8mber8 of the board of Truste8s and signed on their behalf by. n L••uwon Date: Page 5
The Dreamland Trust {A company limited by guarantee) Independent examinerfs report for the year ended 31 March 2024 Independent examinerfs report to the Trustees of The Dreamland Trust ('the charity.) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts 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 the charitys accounts 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 examinerfs statement I have completed my examination. I confirm that no matters, other than those fully detailed below, have come to my attention in connects'on with the examination giving me reasonable cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I confinn that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Page 6
The Dreamland Trust {A company limited by guarantee) Independent examinerfs report (continued) for the year ended 31 March 2024 Disclosure section I draw your attention to the matter documented at note 2.2, which details the basis on which the financial statements have been prepared and the material unrtianty disclosed around the Charity's ability to continue as a going concern. This report is made solely to the charitrfs Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitrfs Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charitls Trustees as a body, for my work or for this report. Signed: 7fL Dated: 31 January 2025 S Rouse FCCA DChA Kreston Reeves LLP Chartered Accountants Chatham Maritime Page 7
The Dreamland Trust {A company limited by guarantee) Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies 860 48,566 49,426 266 Totsl income 860 48,566 49,426 266 Expenditure on: Charitable activities 5,978 50,000 55,978 60,838 Total expenditure 5,978 50,000 55,978 60,838 Net expenditure Transfers beeen funds (5,118) (2.197) (1,434) 2,197 {6,552) {60,572) Net movement in funds (7,315) 763 {6,552) {60,572) Reconciliation of funds: Total funds brought forward Net movement in funds 35,583 (7.315) (763) 763 34,820 {6,552) 95,392 (60,572) Total funds carried forward 28,268 28,268 34,820 The Statement of financial activities indudes all gains and losses recK)gnised in the year. The notes on pages 10 to 18 form part of these financial statements. Page 8
Th• Drnamland Trust IA company Ilmltod by guarantee) Reglstorod number: 06936961 Balanco •h•ot as at 31 March 2024 2024 2023 Nota Flxed u$•ts Herftage 888et8 Curr•nt a88•t• 27,834 27,834 Cash at bank and In hand 7,463 9.055 Creditor8: amounts falling due within one ar (7.029} (2,089> N•t curr•nt a•••t8 8.988 Total n•t ••¥•ts 28,268 34,820 Charfty funds R8Strfcted funds Unrestricted funds (763) 35.583 28,268 Total fund• 28,268 34,820 Tha charfty was entlued to ex•mptlon from audlt und•r Mctlon 477 of th• Companles Act 2006. The members have not requlred the company to obtsln an audlt for the year In questlon In accordance wlth $8ctSon 476 of Comp8nl88 Act 2008. Tha Trustees acknowledge thelr rasponslbllltles for cOmplng wlth the requlrements of the Act wlth respect to accounting records and preparation of financi81 statamants. The flnandal 8tst8m8nt8 have been pr8p8r8d In accordanc8 vAth th8 provlslons 8pplScable to entit188 8ubject to the 8mall companles reglme. The financial slatements were approved and authorised for issue by the Tru8tees and signed on their behalf by. E Van Lun The notes on pages 10 to 18 forni part of these financlal ststements, Page 9
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 General information The Dreamland Trust is a company limited by guarantee and is incorporated in England and Wales. with the charity registration number 1160517 and the company registration number 06936961. The address of the registered office is 11-13 Hawley Street, Margate. Kent CT9 1 PZ. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. The Dreamland Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otheiSe stated in the relevant accounting policy. The financial statements are prepared in British Sterling. and rounded to the nearest Pound. 2.2 Going concern The Trustees assess whether the use of going cOnM is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concem. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. Following the year end. there is a material uncertainty in regards to the Charity's cashflow. The Charity's reserves are tied up in heritage assets, with a balance held in cash. The cash balance was not sufficent to meet it's liabilities. The Charity recieved a loan from a Trustee to enable it to meet its liabilities, and is in the process of applying for grants and stabilising its income structure. The Charity's activities have been reduced whilst this prOsS is UndeaY to stabilise the Charitys financial future. Notwithstanding the material uncertainty. the financial statements have therefore been prepared on a going concem basis. 2.3 Income All income is recognised On the charity has entitlement to the income, it is probable that the income will be received and the amount of income re1vable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is reiVed in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is reived. the income is accrued. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the seNice. Page 10
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Accounting policies {continued) 2.4 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 on charitable activities is incurred on directly undertaking the activities which further the charitls objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Heritage assets Where heritage assets have been purchased. they are initially recognised at cost. After recognition, under the cost model, heritsge assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. No depreciation is provided on heritage assets. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.8 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Pensions The charity contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. Page11
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Accounting policies {continued) 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations 824 824 230 Grants 48,566 48,566 36 Bank interest 36 36 860 48,566 49,426 266 Total 2023 66 200 266 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable expenditure 47,285 8,693 55,978 60,838 Total 2023 55.099 5,739 60,838 Page 12
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Analysis of direct costs Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Wages and salaries Pension contributions 3,625 29,309 698 32,934 698 32,257 749 Advertising and promotional costs Computer costs Event costs 263 263 6,130 460 11,753 1,460 1.585 1,585 7,936 1,765 445 7,936 1,765 Insurances Repairs and maintenan Other expenses 445 2,290 5.918 39,708 45,626 55,099 Total 2023 55.099 55,099 Analysis of support costs Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Support costs Accounting and independent examination Consultancy costs 60 60 3,468 192 1,695 3,852 3,468 60 3,468 3,528 5,739 Total 2023 120 5,619 5,739 Page 13
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Staff costs 2024 2023 Wages and salaries Contribution to defined contribution pension schemes 32,934 698 32,257 749 33,632 33,006 Included within wages and salaries is the redundancy provision. in the amount of £3,625 (2023: £Nil). which will be paid post year end. The average number of persons employed by the charity during the year was as follows: 2024 2023 No. No employee received remuneration amounting to more than £60,000 in either year. Key management personnel received salary and benefits (including employerfs national insuran) totalling £29,500 during the year {2023 - £29.341). Trustees. remuneratlon and expenses During the year. no Trustees reiVed any remuneration or other benefits {2023- £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 14
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Heritage assets Assets recognised at cost Heritage assets 2024 Carying value at 1 April 2023 27,834 Carrying value at 31 March 2023 27,834 Analysis of heritage asset transactions 2024 2023 2022 2021 2020 Disposals Corbierre Wheel (1,500) Total disposals (1.500) Creditors: Amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 4,659 2,370 1,034 1,035 7,029 2,069 Included within other creditors is the redundancy provision of £3.625 (2023: £Nil). Page 15
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds General Fund 35,583 860 (5,978) (2,197) 28,268 Restricted funds Heritage in the Making D100 (Dreamland 100) 8,646 39,920 (8,646) {41,354) (763) 2,197 (763) 48,566 (so,000) 2,197 Total of funds 34,820 49,426 (55,978) 28,268 Statement of funds - prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Unrestricted funds General Fund 32.431 66 (1201 3,206 35,583 Restricted funds Heritage in the Making Sands Heritage NLHF DC Book Printing D100 (Dreamland 100) 23.087 500 2.149 37.225 162 (22.692) (557) (500) {2,149) 38 (38,0261 (763) 62,961 200 (60.718) {3,206) (763) Total of funds 95.392 266 (60.838) 34,820 Page 16
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Statement of funds (continued) Purpose of restricted funds The Heritage in the Making Fund (perwous the Heritage Lottery Fund) relates to funding received to engage the community with Dreamland Heritage, and to support the ongoing opening and growth of Dreamland Amusement Park. This ceased in 31 December 2022 and the remaining balance was transferred to general funds. The Sands Heritsge Fund relates to funding recieved to support the maintenance of the archive. This balance was transferred to general funds at year end. The Wages Fund relates to amounts reiVed from HMRC regarding the furlough scheme, and the corresponding expenditure. This balance was transferred to general funds at year end. The NLHFDc Book Printing Fund relates to monies recieved to produce books outlining the Dreamland Heritage. This balance was transferred to general funds at year end. The D100 (Dreamland 100) Fund relates to funding recieved regarding celebrations for Dreamland's 100th year in 2020. Due to the cornavirus restrictions. the celebrations have been delayed and are ongoing. The fund has currently been overspent in the 2023 year. which will be recovered in the 2024 year when the next tranche of funding is received. 10. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure General funds Restricted funds 35,583 (763) 860 (5,978) {50,000) (2,197) 2,197 28,268 48,566 34,820 49,426 (55,978) 28,268 Summary of funds - prior year Balance at 31 March 2023 Balan at 1 April 2022 Transfers inlout Income Expenditure General funds Restricted funds 32,431 62.961 66 (1201 (60.718) 3,206 (3,206) 35,583 (763) 200 95,392 266 (60,8381 34,820 Page 17
The Dreamland Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 11. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Heritage assets Current assets 27,834 7,463 (7,029) 27,834 7,463 {7,029) Creditors due within one year Total 28,268 28.268 Analysis of net assets between funds - prior period Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Heritage assets Current assets Creditors due within one year 27,834 9,055 (1.306) 27,834 9,055 (2,069) (763) Total 35,583 (763} 34,820 12. Pension commitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately in an independently administered fund. The pension cost charge represents contributions payable to the ftjnd and amounted to £698 (2023 £749). At the period end there were no amounts outstanding to be transferred (2023.. £NIL). 13. Related party transactions There were no transactions with related parties during the year or prior year. Page 18