Ledbury Places Report of the Trustees and Unaudrted Financial Slalements For the Year Ended 31st March 2024 Registered Company Number." 09079970 (England and Wabsl Registered Charty Number.. 1162108
Contgnts of the Flnancial Stslements For the year ended 31st March 2024 Page Report of the Trustees 1to3 Independent Examiner's Rep)rt Statement of Financial Activrties Balance Sheet Notes to the Financial Slalements 7t013 Detailed Ststemenl of Financial Activities 14
Ledbury Pla(*s For the Year Ended 31st March 2024 REPORT OF THE TRUSTEES For the year ended 31st March 2024 The Iruslees who are also directors of the charity for the purposes of the Companies Act 20C6, present their report with the financial slalemenls of the charity for the ye8r ended 30 March 2024. The accounts have been prepared in accordance wrth the provisions applicable lo the small companies regime and in accordance wf(h FRS102 Slalement of Recommended Practice ISORPI applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard IFRSI 102. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cornpany numbor 09079970 (England and Wales) Registered Charity number 1162108 Registered 0ffl¢g 1A The Homend Ledbury Herefordshire HR81BN Trustees The following DirecloT5 and Trustees served during the year A Brarthwaite ML Hawker S Houghlon C Jupp L King (appointed 5th February 20241 M Lister (appointed 5th February 20241 P Shaw lappoinled 5th February 20241 C Tustin M Waller Independent examlner Luke Keegan Chartered Management Accountsnt 1A The Homend Ledbury Herefordshire HR81BN
Ledbury Places For the Year Ended 31st March 2024 REPORT OF THE TRUSTEES ICONT} OBJECTIVES AND ACTIVITIES ObJectlve$ and alms To preserve for Ihe benefit of the people of the town of Ledbury and of the nation the historical, architectural and conslruclional herrt3ge that exists in and around Ledbury in buildings lincluding any structure or construction or any part of a building) of PartUlar beauty or historical or conslru¢tional interest. To promote and facililale education conceming the social, economic and archrteclural history and herrtage of Ledbury and surrounding area. To promote and facilrtale for the benefit of the public. regeneration in areas of soeial and economic deprivation in and around the area. Publlc 8enotit The Irusloes have considered the Charity Commi88ion's guidanGe on Publ benefit, Including the guidance'Public bonelil. running a charity IP821' ACHIEVEMENTS ANO PERFORMANCE Maln Achlevements The Chanty eonlinugs to remain in close assLxiation with ils founding bodies.. Th¢ Ledbury and Di8tricl Society Trust Limited (known as Ledbury Cwic Soeietyl. Lodbury Town Council and the Ledbury and Area Development Trust Limited. As Previously reported Ledbury Poetry continued lo occupy the Barrett Browning Institute builtjing on a three.year lease with effect from 1 April 2023. The Project Oversight Committee wnlinues to meet on a regular basis lo ovèrsee Ihe planning ol the major relurbishmenl ol the Barrett Bfowning Inslrtute with the long-lerm aim lor Ledbury Poetry lo either purchase the building or take on a long-temi tenancy once complete. Trusleg$ continued work 81 the Old Grammar S¢h¢)ol to refurbish the mu8eum exhibits and displays and have been fortunate to receive several grants lo 8n8ble this work to pr(xeed. Following a successful funding application for money from the National Lottery Heritage Fund the kitchen and WC on the Upper Floor have been totally refurbished. Grants had also been received to prtteed with several nthv projects including the education in Ledbury through lime New Slones New Audiences., works to the water UrSe in the Heritage Centre and the delivory of an education project for sChCls. For the year July 2023 to March 2024 the Herrtage Centre opened for four days a week from Easter 2023 to October 2023 due to a limited number of volunteers available and the decision lo have Iwo volunteers per session. so improving visitor eXpernCe and maintaining a safe environment. Trustees acknowledged that this would once again impact on income generation for the Herrtage Centre wrth a diminished loorfall compared to pre-pandemic levels when the Herrtage Centre had been open seven days a week from Easter to the end ol October. In preparation for the 2025 season the will be rttrurtmenl campaign undertaken for new volunteers. As a charrty year on year Ledbury Places continues lo lose money and Trustees agreed that rt was essential for the charity to Increase income erther through grants for projects or Ihfough the sale ol retsil merchandise and In¢aSe ln donations. Trustees were working lo increase f(all lo the Herrtage Cenlre. NMITE had been given the opportunity lo review and research the watercourse as part of a thesis and look al the insulation ol the Old Grammar School wrth lime lapse cameras lo monrtor what was happening to the building over a period of time.
Ledbury Pla¢és For the Yèar Ended 31st March 2024 FINANCIAL REVIEW R8vi•w of the charity's f5nancial posltion at the end of the yèar The Chanty received the following grants during the financial year 2023124 and along with donalK)ns and sales through the Heritage Centre Museum, these were the main sources of income.. £10.C0 grant Teceived from National Lottery Heritage Fund to refurbish the kitchen and WC. Upper Flcx)r. Old Grammar SchcK)I (July 20231 £11.850 grant Teceived from Association of Independent Museums IAIMI for the education in Ledbury through lime project New Stories New Audiences (February 20231 £7,497 grant received from the UK Shared Prosperity Fund IUKSPFI for the delivery of the educat project (March 20231 £1.900 grant received from Ledbury Town Council for the WOTk$ lo the water course in the Heritage Centre (December 20231 £750 grant received from Ledbury Town Council for the new clothes rack, children's leaming and play area (December 20231 Financial support recewed from Ledbury Civic Society for education81 materials for the education projed Iseptember 2023} REPORT OF THE TRUSTEES (CONT} Reservès Policy After the end of the year, the Trustees agreed lo amabamate the designated reserves and lo bring them into the general fund. This Is shown in the transfer of Cufrenl assets shown in the notes to the accounts. The Trustees have adopted a reserves policy with the aim lo hold free reserves to meet the adminislralion of the charty and obligations of owning the buildings over one year1£10.0¢)01. The general fund surplus at the end of the year was £51,85812023' £10,364). The Trustees carefulty considered the Charity's financial position and wore satisfied that it remains going concern. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document The charity is controlled by its Memorandum and Articles of Association and constitutes a limited cornpany, limited by guarantee. as defined by the Cornpanies A¢1 2006. The liabilrty of each member is limited lo £10. Recruitmgnt and appointment of new trustees Directors are eIed at a General Meeting. The following or9ani5alions, while they are members of Ledbury Places are entitled lo nominate directors (number of directors shown in brackets).. Ledbury Town Council121, Ledbury and District Society Trust Limiled121, Barrett Browning Instrtule111 and Ledbury and Area Developrnenl Trust Limited {11. Induction and training of new trustees
Ledbury Places For the Year Ended 315t Marctt 2024 On appointment the trustees receive a copy of the governing documents and Charity Commission drumentS regarding Irustee5hip. New trustees are briefed on the history. background and work of the charrty. DECLARATIONS The company has taken advantage of the small companies. exemption in preparing the report above. The trustees deelare that they have approved the trtjstee's report lincluding direclorfs report) above. ON BEHALF OF E BOARD: M Waller Date".
Ledbury Place5 For the Year Ended 31st March 2024 Indepgndont Examiner's Report to the trustees of Ledbury Places I report on the accounts for the year ended 31st March 2024 which comprise the Slalement of Financial Aetivilies, the Summary Income and Expenditure Account, the Balance Sheet and the related notes. Respectlve fesponslbllltles of trnstees and examlner The charrty's Ifuslees (who are also the directors for the purposes of company lawl are responsible for the preparation of the accounts. The charity's Iruslees consideT that an audit is not required for this year (under Section 144121 of the Charities Act 2011 (the 2011 A¢lll and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, il is my responsibilty lo.. examine the accounts under Section 145 01 the 2011 Act to follow the procedures laid down in the General Directions given by the Charity Cornmission (under Section 14515llbl of the 2011 Acll". and to stale whether particular matters have come lo my attention. Basls of the independent examinerfs report My examination was carried out in acwrdance with the General Directions given by the Charty Commission. An examination Includes a review of the accounting records kept by the charty and a comparison of the aceounts presented wrth those records 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Iruslee5 ¢onceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opin10n is given as lo whether the accounts present a Irue and fair view ' and the report is limrted lo those matters set out In the slalemenls below. Inil8pgndent gxaminerfs statement In ¢onnection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe that. in any material respect, the requirements to keep accounling records in accordanee wrth seCtn 386 and 387 of the Companies Act 20C6,' and to prepare accounts which accord wf(h the accounting records, comply with the accounting requirements of Sections 394 and 395 of the cPanieS Act 20(h8 and with the melhc*ls and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been rnet.. or 121 lo which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Luke Keegan, Chartered Management Accountant 1A The Homend Ledbury Herefordshire. HR8 IBN Dae 2- tL Z•14
Ledbury Places For tha Year Ended 31st March 2024 Statement of financlal actlvlties {includlng summary income and expenditure aOUnt) RKommended categories by activty UnrestTl¢t8d Restricted funds funds Note5 2024 2023 Incorne Income and endovrnents from: Donations and legacies Charf(able activities Heritage Centre Barrett Browning Institute 8urgage Hall 65 19,616 19,681 35,297 6,089 5.658 1.723 6,089 5.658 1,723 11,472 9,047 Other Income Total 13,534 33.150 55.816 Exponditure Charrtable activities Herila9e Cenlre Bafrett Browning Institute Burgage Hall Communty Lottery Fund New Stories New Audience Educ81ion Project Town Council Projects Admin and Support 10,940 923 1,723 10.940 923 14,591 36,599 1,723 10,524 10,399 6.297 1.876 10,524 10,399 6,297 1.876 7,848 Total 29,0 52.146 59,037 Transfvrs between funds Net movement in funds 9,S16 9,480 18,996 3,221 Reconciliation of funds-. Total funds brought forward Total funds carrlod forwafd 201 376 191,860 9,480 210,856 191,860 214,077 210,856
Ledbury Place5 For the Year Ended 31st March 2024 Balance sheet Unrestricted Restricted funds funds Note5 2024 2023 Heritage assets Total flxed assets 140,002 140,002 140.002 Currgnt assgts Stocks Debtors Cash al bank and in hand Total curronl J8sots 4.120 2,077 45,661 51,857 4.120 9.293 38.444 5.296 12.543 53.015 7.216 7,216 Creditors: amounts falllng due within ono yaar Net curr•nt asset8llllabllltlesl 191860 191860 Total 888ets I$ currènt 1SabSlltlos 191 860 Funds of thè Charlty Reslricled income funds Unreslricled funds Total funds 9.480 201,376 191.860 191,860 191,860 The eompany was entitled lo exèmption from audrt under $477 of the Companie8 Act 2006 relating 10 small companies. The members have not required the ¢ompany to obtain an audit in accofdance with $èclion 476 of the Companies Act 2006. The directors acknowledge their rosponsibililies for complyin9 with the requiremgnts of the Companies Act wrth respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable lo small companie$ subject lo the small companies regime and in accordance with FRS102 SORP. Signed by M Waller Date 1,.1&>2
L8dbury Places For the Year Ended 31st March 2024 Notes to the accounts 8asls of preparation 1.1 Basls of accountlng These accounts have been prepared under Ihe historal cost convention with item$ racognised at cost or transaction value unless othefwise slated in the felevanl nolelsl lo these accounts. The accounts have been prepared in accordance with". The Statement of Recommended Practice. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ifeland IFRS 1021 efflIve from 11t January 2019 and wilh the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ireland IFRS 10218nd with the Charities Act 2011. The ¢harity constrtutes a public benelil enlty as defined by FRS 102. Accountlng pollcles 2.1 Income RKognltlon of Incom• These are included in the Slalemenl of Financial Activrties ISOFAI when.. the charity beCce8 enlilled lo the fesources., it is more likely than not that the Iruslees will rec6ive the resour¢es', the monetary value can measured with sufficient reliability. Offsgttlng There has been no offsetting of assets and liabilities, or Income and oxpense$, unless feqijifgd or pemitted by the FRS 102 SORP or FRS 102. Grants and donatlon8 Grants and donation$ are only included in the SOFA when the general income recognition criteria are met15 10 10 5.12 FRS102 SORPI. Government grants The charity has received a local government grant in the reporting period Donated 8er¥lc88 and fa¢illtlg8 Donated serviee8 and facilil¢es afe included in the SOFA when received at the value of the grft lo the charity provided the value of the grfl can be measured reliabty. Voluntoer help The value of any voluntary help received is not included in the accounts bul is described in tha tTU8lees' annual report. Income from membarshlp Membership subscriptions received in the natLsre of a grft are recognised in subscriptlons Donations and Legacies.
Lbury Placas For the Year Ended 31st March 2024 2.2 Expendlture and Llabllltles Liability recognitlon Liabilities are recognised where il is more likely than not that there is a legal or constructive obligation commrtting the charty lo pay out resources and the amount of the obligation can be measured with reasonable certainly. Notss to the Account8 Icontl Govemance and support Support costs have been allocated beeen govemance costs and other costs support. Governance costs compiise all costs involving public accounlabilily of the charity and rts compliance with regulation and g¢)od practice. Support costs inelude central functions and have been reported separately lo Charilable activities The support costs incurred are all in relation lo meeting the aims and objectives of the charity. 2.3 Asset* H•rlt4ge ••3gts The buildings that the charity owns have been acquired in the lulfilmenl ol the charity obieclives. Heritage assets are carried al c051 for Purchased assets, thère are no comparable market based tran$8clion$ at which to assess a fair value. The Barrell Browning Inslrtule is a donated asset and is carried al the 2017 Market Value The valuation was determined by an RICS Surveyor. This was Irealed as rt's deemed cost. The asset Is Impaired In value and this was recognised In the 2017 valuation 1118 con8idered that all of the buildings owned by the charity have indefinrte lives and will not be deprecialed. Stock8 and work In progrn81 Stocks held for sal¢ as part ol charitable activity are measured al the lower of eosl or nel realisable value. Debtorn Debtors (including trade debtors end loans receivable) are m6asur¢d on initial recognition al 5elllement amount after any trade discounts or amount advan¢ed by the charity. Subsequently. they are measured at the cash or other consideration expected lo be received.
Ledbury Places For thè Year End9d 31st Marth 2024 Notes to the accounts Iwntl 3 Income Unrestrlcted Restrlcted funds fund8 Analysis of income 2024 2023 Analys55 of Donations and 1ggaci•8: Donations received Grants rg¢elved UK Shared Prosperity Fund Ledbury Town Council Communty Lottery Fund Architectural Heri18ge Fund Association of Independent Museums 6,297 2,400 10,000 6,297 2,400 10,000 750 24.965 919 919 9,480 Membership subscriptions Total 65 6S 65 102 19,816 19.881 35,297 Analysls of Charltable Actlvitlès: Heritage Cenlre.. Visilof Sales Visitor Donations Hire of Rwm8 Total 4,158 1,756 175 6,089 4,158 1.756 175 6,089 4.878 5,084 1,710 11.472 Barrett Browning Inslilule. RenVco$t re-imbur58menl 5,658 5.658 9,047 Burgage Hall". Renv cost re-imbursement 1,723 1,723 Total 13.469 13.469 20.619 Other Incomg TOTAL INCOME 13,$34 19.616 33,150 65,818 Exp•ndllurn unrestrIct Rostrlctod funds funds Analysls of expendltur8 2024 2023 Costs of Herrta9e Centre Activlty by fund B8rrett Browning Inslrtute Burgage Hall Archileclural Heritage Fund New Stories New Audience Education Project Communty Lottery Fund Town Council Funded Proiects General 10,940 923 1,723 10,940 923 1,723 14.S91 9,873 26.726 10.399 6,297 10,524 1,876 10,399 6,297 10,524 1,876 7.848 23,050 29,096 52,146 S9,037 10
Ledbury Pla(xs For the Year Ended 31st March 2024 Notes to the accounts (cont} Analy$i$ of Support Costs Unrnstricted Restricted funds funds Anatysis of expendltur• 2024 2023 Management and Administration Govemance Costs". Legal AdvicelFees Examiner Fees 8.894 8,894 7,278 570 570 570 9,464 7.848 Heritage Assets Barrott Browning Institute Heritage Centre Buryage Hall Total At the beginning of the year At end of the year 140.000 140.000 140,002 140.002 The Barrett Browning Institute was donated lo Ledbury Places by the former Barrett Browning Institute charrty 11 is carrd al the 2017 valuation The building was valued on a commercial basis by an RICS Suryeyor. The Heritage Centre and the Buigage Hall were purchased al a cost of £1 each from Herefordshire Council Because the assets are Heritage assets they are not depreciated. Stock Herrtage Centre stock.. The rtems for sale In the herf(age Centre have been valued al the PUf¢hase cost. 4,120 Closing 4,120 Total prgvious year 6,296 Debtors and prepaymènts 2024 2023 Trade Debtors Grants Receivable Total 177 9,116 9.293 12,543 12,543
Le(Ibury Pla$ For thè Year End8d 31st March 2024 Note$ to the accounts Icontl Charity funds 9.1 Detalls of materlal funds hold and movements during tho CURRENT r9POrting p$riod Fund Fund balance8 balances brought carrl?d forward Income exp•ns•8 Translors forward Type Purpose and Restrictions Fund names All activity for Barrett Browning Inslilule All activity lor the Hertsge Centre Burgage Hall Barrett Browning Instrtute 198,258 5,6S8 19231 {62,9921 140,000 Heritage CenlTe Burgage Hall AIM New Stories Education project Communrty Lottery Fund Town Council Funded Projects General 2,416 6,089 110,940} 1,723 (1,723} 919 110.3991 6,297 16,2971 2.436 9,480 10.000 {10,5241 524 2.400 65 11.8761 19,4641 15241 60,556 General fund 701 51,858 Total Funds as per balancè sheet 210,856 33,150 152.2461 9.2 Details of matsrial funds held and movements during the PREVIOUS reporting perlod Fund balancè• brought forward 191,860 Fund balan¢8s canled forward Type Purpose and Restrictlons Incomè Expgn¥ Tran8ter• Fund names All activity for Barrett Browning Institute All activity for the Herrtage Centre He81ing Barrett Browning Institute 200,096 9,797 19.8731 11,7611 198,258 Herrtage Centre Herrtage Centre AIM New Stories Burgage Hall Architectural Heritage Fund General 5,535 11.472 113,169} {1,4221 11,4221 1,422 2,416 9,480 9.480 Burgage Hall 24.965 126,7261 102 17,8481 1,761 General fund 8.447 701 Total Funds as per balance $heet 214,077 55,816 IS9,0371 210.865 12
Le(Ibury Pla$ For the Year Ended 31st March 2024 Not to the a¢¢ounts (cont} 10 Analysis of net assets between funds Tanglble Net current fixed assets I assets {liabilitigs} Net Assets Unrestrlcted funds G&neral 51,857 51.858 Desonaled Barrett Browning Inslrtute Herrtage Centre Burgage Hall 140.000 140,000 Restricted Funds Architectural Her(iage Fund New Stories New Audiences Education Project 140.002 51.857 191.860 Prevlou8 year Tanglble fixed assets Net current assets I Net Assots Unrestrlcted funds General 700 701 Deswngled Barrett Bfowning Inslrtute Henl8ge Centre Burgage Hall 140,000 58.258 2.415 198,258 2.416 Resliicled New Stories New Audience 9,480 9,480 140,002 70,854 210,856 13
Ledbury Places For the Yaar Ended 31st March 2024 Notes lo the aecounts Icontl 11 Transactions wlth trustees and rèlated parties 11.1 Trustee remungration and bènefit$ None of the trustees have been paid any remuneration or received any other beneffts from an employment wrth their charty or a related enlrty 11.2 Trustges, expenses The only expenses paid lo Trustees during the year We for the re-imbursement of out of rmxket expenses while undertaking voluntary activities for the charty. No expenses for travel. subsistence or accommodation were incurred. 11.3 Transaction{sl with related rtIeS There have been no related party transactions in the reporting period. 12 Employees The charity had no employees during the year. 13 Company Limited by guarantee The company is limrted by guarantee and has no share capital. Every member of the company undertakes to eonlribute to the assets of the company. in the event of il winding up, such an amount as may be ruired, not exceeding £10. General Infomiation Ledbury Places. Is a private company. limi(ed by guarantee, incorpoTated in England and Wales, registered number 09079970. The registered address is 1A The Homend, Ledbury, ef0rdshire, HR8 1 BN 14 14
Le(*)ury Places For Year ETrJed 31st March 2024 Dètslled Stsloment of Financial Activilies 2024 2023 INCOME AND ENDOWMENT Oonations and legacies Grarts ReceNable SubscTPtions 19,616 65 19,681 35,195 102 35,297 Charitable activities Visrtof SaleslDona1nS Hire Of Rooms 5,914 7,555 13.469 9,762 10,757 20,519 Other Income Total incoming resourcos 33.150 $5,816 EXPENDITURE Charitable activities Major Refurbishments Materials and Stock Opening Slock Purchase Less Closing Stk Repairs and Maintenance utilities Water Telephone Sundry rtems Insurance Consuttancy Fees Other project Expendiiure 1,422 5,296 5.534 2,590 5.440 {4.1201 15,2961 1,908 7,465 3.183 4,e67 271 4,457 4,788 26.726 29.0 42.682 51.190 SUPPORT COSTS Managemont Admin Support Sundry Websrte Membership Fees Insuran Accountancy Bank Charges 4.023 434 5S5 35 3,776 18 3.927 802 1,199 1,278 72 7.278 Govemance costs Examiners Fees Legal Fees 570 570 570 570 Total rwurces expended 52.146 59,037 Net IncofflellExp•nditure) 118,996) 13,2211 15