Report of the Trustees
The Trustees present herewith their report and financial statements for the year ended 31[st] March 2024.
Review of theYear
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During the year 2023/2024 The Charity has referred to the guidance contained in the Charity Commission`s general guidance on public benefit and reviewed its Constitution in light of the changing need of the local community, and found that no change is required.
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The Charity has furthered its objectives by making the Heritage Centre available for access by the public at times advertised and for organised visits by groups who pursue the objects of the Charity, and holding meetings at which items of local historical interest were discussed.
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The Charity has identified the needs of the Heritage Centre to increase the benefits that it can offer to the Community and has a continuing programme of events and improvements, subject to funding being available.
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The Charity has lease for Occupation of the Gatehouse, the Charity`s Museum, with the owners, Swale Borough Council, for a period of 25 years from 2015. The main terms of the lease are that the Owners maintain and insure the structure of the building and that the Charity Maintains the interior and services.
The Strategies adopted for managing the Charity are
The Trustees have reviewed the management of the Trust and offer the facility to a wide section of the community, to both increase its use and its income, without compromising the interest of the existing users.
To enable this, the management committee are recruited from the Members of the
Society.
Risk assessment
The Trustees have identified the business risks to the Charity and procedures, including a reserves policy, which is in place to identify and control these and new risks as they arise.
Investment Powers and Policy
Under the Constitution the Trustees have the power to invest as they feel
appropriate.
The Trustees having regard to the requirements of the Charity maintain a policy of keeping reserve funds in short term deposit accounts with interest paid thereon.
Reserves
The Trustees have a Reserves Policy which is reviewed, by the Trustees , every year in the light of future known risks. The Trustees have reviewed the reserves of the Charity and consider them to be sufficient for the anticipated future running cost of the Charity The Reserves policy allows for three levels of reserves:- Unrestricted , allowing for unforeseen or non recurring costs; Restricted reserves , providing for the use of grants, Designated funds allowing for at least six months running costs and for planned immediate expenditure, this includes responsibility for the maintenance and inspection of services previously carried out by Swale Borough Council.
Statement of Trustees`responsibilities
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the Charity and of the state of affairs of the Charity and of the income and expenditure of the Charity for that period in preparing those financial statements the Trustees are required to :-
Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
Prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the Charity will continue in business.
Future Plans
The Trustees are constantly aware of the needs of the building to provide the standards required by the users and are carrying out improvements within their financial ability.
Summary Income and Expenditure Account
Year Ended 31st March 2024
Income Resources
| 2023/2024 | |
|---|---|
| £ | |
| Gatehouse Entry | 2056 |
| Donations | 494 |
| Membership Fees | 540 |
| Sales | 735 |
| Fundraising Events | 342 |
| Bank Interest Received | 0 |
| Grants | 2 |
| Educational Visits | 82 |
| Annual Income | 4251 |
Balance Sheet at 31st March 2024
Current Assets
| 2023 | 2024 | |||
|---|---|---|---|---|
| Stock | £1,615.00 | £6,515.00 | ||
| Debtors | £0.00 | £0.00 | ||
| Bank | Current | A/C | £30,173.00 | £29,104.00 |
| Deposit | A/C | £2,758.00 | £2,758.00 | |
| Bank Interest Recd | £0.00 | £18.45 | ||
| Cash In Hand CWD | £414.35 | |||
| Float | CWD | £30.00 | ||
| To Bank | £800.00 |
Resources Expended
| 2023/2024 | |
|---|---|
| £ | |
| Utility CostElectricity | 1040 |
| Water | 72 |
| Telephone/ Internet | 839 |
| Insurance | 650 |
| Stationery/Printing | 388 |
| Misc/Modes | 777 |
| Web Design | 120 |
| Donations | 494 |
| Caretaking/Repairs | 1199 |
| Hall Hire | 190 |
| Grant Purchases | 3400 |
| Stock Purchase | 928 |
| Update of Fire Alarm System | 890 |
| De-Humidifiers x 4 | 732 |
| 11719 |