2023-06-30-accounts - Ledbury Places

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report ofthe Trustees			1 to 3
Independent Examiner's	Report
Statement of Financial	Activities
Balance Sheet
Notes to the Financial Statements			7to 13
Detailed Statement of Financial		Activities	14

Ledbury Places For the Year Ended 30 June 2023 ON BEHALF OF THE 80 M Waller Dale-.

Recommended categories	Recommended categories	by		Unrestricted	Restricted
activity			Notes	funds	funds	2023	2022
Income
Income and endowments		from:
Donations and legacies				852	34,445	35,297	30,719
Charitable activities
Heritage Centre				11,472		11,472	11,630
Barrett Browning	Institute			9,047		9,047	5,640
Burgage Hall							2
Other Income							3,405
Total				21,371	34,445	55,816	51,395
Expenditure
Charitable activities
Heritage Centre				13,169	1,422	14,591	25,574
Barrett Browning	Institute			9,873	26,726	36,599	14,257
Burgage Hall
Admin and Support				7,848		7,848	7,328
Total				30,889	28,148	59,037	47,159
Transfers between	funds			3,183	(3,183)
Net movement in funds				12,701	9,480	3,221	4,237
Reconciliation offunds:
Total funds brought	forward			214,077		214,077	209,840
Total funds carried	forward			201,376	9,480	210,856	214,077

Balance sheet
			Unrestricted	Restricted
		Notes	funds	funds	2023	2022
Heritage assets			140,002		140,002	140,002
Total fixed assets			140,002		140,002	140,002
Current assets
Stocks			5,296		5,296	5,534
Debtors				12,543	12,543
Cash at bank and in hand			56,078	3,063	53,015	68,541
Total current assets			61,374	9,480	70,854	74,075
Creditors: amounts	falling
due within one year
Net current assetsl(liabilities)			61,374	9,480	70,854	74,075
Total assets less current
liabilities			201,376	9,480	210,856	214,077
Funds ofthe Charity
Restricted income funds				9,480	9,480
Unrestricted funds			201,376		201,376	214,077
Total funds			201,376	9,480	210,856	214,077

2.1 Income
Recognition	of	income	These are included in the	Statement of Financial Activities (SoFA)	when:
			~ the charity becomes	entitled to the resources;
			~ it is more likely than	not that the trustees will receive the resources;
			~ the monetary value can be measured with sufficient reliability.
Offsetting			There has been no offsetting ofassets and liabilities, or income and
			expenses, unless required	or permitted by the FRS102SORP or	FRS102.
Grants and donations			Grants and donations are	only included in the SoFA when the general
			income recognition criteria are met (5.10to 5.12FRS102SORP).
Government	grants		The charity has received	a local government grant in the reporting	period
Donated services and			Donated services and facilities are included in the SOFA when received			at
facilities			the value ofthe gift to the	charity provided the value ofthe gift can	be
			measured reliably.
Volunteer help			The value ofany voluntary	help received is not included in the accounts		but
			is described in the trustees' annual report.
Income from	membership		Membership subscriptions	received in the nature ofa gift are recognised		in
subscriptions			Donations and Legacies.
2.2 Expenditure		and Liabilities
Liability recognition			Liabilities are recognised	where it is more likely than not that there	is a
			legal or constructive obligation committing the charity to pay out resources
			and the amount ofthe obligation can be measured with reasonable
			certainty.

Governance	and support	Support costs have been allocated between governance costs and other
costs		support. Governance costs comprise all costs involving public
		accountability ofthe charity and its compliance with regulation and good
		practice.
		Support costs include central functions and have been reported separately
		to charitable activities. The support costs incurred are all in relation to
		meeting the aims and objectives ofthe charity.
2.3Assets
Heritage assets		The buildings that the charity owns have been acquired in the fulfilment	of
		the charity objectives. Heritage assets are carried at cost for purchased
		assets, there are no comparable market based transactions at which to
		assess a fair value.
		The Barrett Browning Institute is a donated asset and is carried at the 2017
		Market Value. The valuation was determined by an RICS Surveyor. This
		was treated as it's deemed cost. The asset is impaired in value and this
		was recognised in the 2017valuation.
		It is considered that all ofthe buildings owned by the charity have indefinite
		lives and will not be depreciated.
Stocks and	work in	Stocks held for sale as part ofcharitable activity are measured at the lower
progress		ofcost or net realisable value.
Debtors		Debtors (including trade debtors and loans receivable) are measured on
		initial recognition at settlement amount after any trade discounts or amount
		advanced by the charity. Subsequently, they are measured at the cash or
		other consideration expected to be received.

3
						Unrestricted	Restricted
	Analysis	of	income			funds	funds	2023	2022
Analysis of	Donations received
Donations and legacies:	Grants received:
	Other Charitable	Organisations							350
	Ledbury Town Council					750		750	1,500
	Herefordshire Council								13,715
	Architectural Heritage			Fund			24,965	24,965	15,000
	Association of Independent
	Museums						9,480	9,480
	Membership subscriptions					102		102	154
	Total					852	34,445	35,297	30,719
Analysis of
Charitable Activities:	Heritage Centre: Visitor Sales					4,678		4,678	5,092
	Visitor Donations					5,084		5,084	5,153
	Hire ofRooms					1,710		1,710	1,385
	Total					11,472		11,472	11,630
	Barrett Browning	Institute:
	Rent/cost re-imbursement					9,047		9,047	5,640
	Burgage Hall:
	Rent
	Total					20,519		20,519	17,272
Other Income									3,405
TOTAL INCOME						21,371	34,445	55,816	51,395
	Expenditure
						Unrestricted	Restricted
	Analysis ofexpenditure					funds	funds	2023	2022
Costs of	Heritage Centre					13,169	1,422	14,591	25,574
Activity by fund	Barrett Browning		Institute			9,873		9,873	7,898
type:	Burgage Hall
	Architectural Heritage				Fund		26,726	26,726	6,359
	General					7,848		7,848	7,328
						30,889	28,148	59,037	47,159

	Analysis ofSupport Co	sts
		Unrestricted	Restricted
Analysis of	expenditure	funds	funds	2023	2022
Management	and Administration	7,278		7,278	6,758
Governance	Costs:
Legal Advice/Fees
Examiner	Fees	570		570	570
		7,848		7,848	7,328

				Barrett	Heritage	Burgage	Total
				Browning	Centre	Hall
				Institute
At	the	beginning	ofthe year	140,000			140,002
At	end	ofthe year		140,000			140,002

Heritage Centre stock:
The items for sale in the heritage Centre have been valued at the
purchase cost.	5,296
Closing	5,296
Total previous year	5,534

		T		Fund						Fund
		y p	Purpose and Restrictions	balances brought forward		Income	Expenses	Transfers		balances carried forward
Fund names
			All activity for
Barrett Browning			Barrett Browning
Institute		U	Institute	200,096		9,797	(9,873)	(1,761)		198,258
			All activity for the
Heritage	Centre	U	Heritage Centre	5,535		11,472	(13,169)	(1,422)		2,416
			Heritage Centre
Heritage	Centre	R	Displays				(1,422)	1,422
AIM New	Stories	R				9,480				9,480
Burgage	Hall	U	Burgage Hall
Architectural
Heritage	Fund	R				24,965	(26,726)	1,761
General		U	General fund	8,447		102	(7,848)			701
Total Funds as per balance sheet				214,077		55,816	(59,037)			210,855
9.2 Details ofmaterial			funds held and movements		during the PREVIOUS reporting				period
		T								Fund
Fund names		y p e	Purpose and Restrictions			Income	Expenses	Transfers f		balances carried forward
			All activity for
Barrett Browning			Barrett Browning
Institute		U	Institute	193,713		5,640	(7,898)	8,641		200,096
			All activity for the
Heritage	Centre	U	Heritage Centre	5,764		11,630	(19,859)	8,000		5,535
Heritage	Centre	R	Heating			5,715	(5,715)
Burgage	Hall	U	Burgage Hall			2			(2)
Architectural
Heritage	Fund	R				15,000	(6,359)	(8,641)
General		U	General fund	10,364		13,409	(7,328)	(7,998)		8,447
Total Funds as per balance sheet				209,841		51,396	(47,159)			214,077

10	Analysis ofnet assets between funds	Analysis ofnet assets between funds	Analysis ofnet assets between funds	Analysis ofnet assets between funds
					Tangible	Net current	Net
					fixed	assets I	Assets
					assets	(liabilities)
Unrestricted		funds
General						700	701
Designated
Barrett Browning			Institute		140,000	58,258	198,258
Heritage	Centre				1	2,415	2,416
Burgage	Hall
Restricted Funds
Architectural		Heritage		Fund
New Stories		New	Audiences			9,480	9,480
Heritage	Centre Displays
					140,002	70,854	210,856
Previous	year
					Tangible	Net current	Net
					fixed	assets I	Assets
					assets	(liabilities)
Unrestricted		funds
General						8,217	8,218
Designated
Barrett Browning			Institute		140,000	60,096	200,096
Heritage	Centre				1	5.762	5,763
Burgage	Hall
					140,002	74,075	214,077


Detailed Statement ofFinancial Activities	2023	2022
INCOME AND ENDOWMENT
Donations and legacies
Grants Receivable	35,195	30,565
Subscriptions	102	154
	35,297	30,719
Charitable activities
Visitor Sales/Donations	9,762	10,245
Hire Of Rooms	10,757	7,026
	20,519	17,272
Other Income		3,405
Total incoming resources	55,816	51,395
EXPENDITURE
Charitable activities
Major Refurbishments	1,422	11,639
Materials and Stock
Opening Stock	5,534	5,762
Purchase	5,440	2,197
Less Closing Stock	(5,296)	(5,534)
Repairs and Maintenance	7,465	7,200
Utilities	4,667	2,791
Water		428
Telephone	444	2,434
Sundry items		2,539
Insurance	4,788	4,016
Consultancy Fees	26,726	6,359
	51,190	39,831
SUPPORT COSTS
Management
Admin Support	3,927	5,733
Sundry	802	16
Website	1,199
Membership Fees		65
Insurance	1,278	873
Bank Charges	72	72
	7,278	6,758
Governance costs
Examiners Fees	570	570
Legal Fees
	570	570
Total resources expended	59,037	47,159
Net Income/(Expenditure)	(3,221)	4,237