CHARITY REGISTRATION NUMBER: 1162566 Sheffield Botanical Gardens Trust Unaudited Financial Statements 31 March 2024 ALLEN, WEST AND FOSTER Chartered accountants Omega Court 364-366 Cemetery Road Sheffield S118FT
Sheffield Botanical Gardens Trust Financial Statements Year ended 31 March 2024 Pag• Trustees, annual report Independent examiners report to Ihe trustees Statsment of financiBI acbwilies Slatsment of financiol position Notes lo the financial statements
Sheffield Botanical Gardens Trust Trustees, Annual Report Year ended 31 March 2024 The trust8es present their report and the unaudited finan¢i81 ststemenls of the charity for the yaar ènded 31 March 2024. R•f•rnnce and administratlv• d•tails R•gistsred charity name Sheffield 8olanical Garden5 Twsl Chanty rggl8tration number 1162566 PrlnGlpal office Omega Court 3W366 Cemetery Road Sheffield S118FT The truste•s Mr M R Slevensefi- Chair Mr J F B Hopkins Ms B I Plant Mrs J M Quibell MsCARose Mr M Sibley M8 K Horselield Ms R A Hunter {Resigned 6 September 2023) (Appointed 6 December 20231 Independent •xamln•r Stephen Allgn BA (Hon81 ACA FCCA Omega Court 38U66 Cemetery Road Sheffield S118FT
Sheffield Botanical Gardens Trust Trustees, Annual Report (continuedj Year ended 31 March 2024 Structure. governancg and managèmènt The Trust 15 Cgnstiluted as a Charitable Incorporated Organisation la"CIO'J and wa8 registered as a charity under the Charities Act 2011 on 7 July 2015. 11 is adrninistèrad and managed by the Trustees in accordance with the powers sel out in the Trusfs Constitution wttich amongst other thingy prohibits the borrowing of oney and commitment lo expenditure for which funds 8re not alre8dy available. The body of Trustees Consists of up lo seven Trustees ofwhorn up lo may be Nomin8t8d Trustees. The Nominated Trustses are appointed by the Friends of the Botanical Gardens I'FOBS,). Each Nominated Tru51ee appointment is rnade at a meeting convened and held according lo the ordinary practicè ol FOBS and is effective from the lalei of the date of the vacancy being filled by that appoinlrnenl and the dale on which thè othÈr Trustees or the Trust Sectary or derk are inforrned of the appointment. New Trustees {olher than Nominated Trusleesl are appointed by a resolution of the Trustees al a Tfustee's rneeling conven8d pursuant to thg TTusI's Constitution. By an agreement dated 29 October 2015 Ilhe Transferf'l Sheffield Botanical Gardèns Trust (whose registered charity number was 1057845 and which is now 116256e111 Clhe Original Charity") Iran5feTTed its enliie aGlivilies and assets lo the Trust. The Charity Commission consented lo the Transfer. The Trust has the same purposes and objectives as thg Original Charity. The reason for gstablishing the Trust was to facilitate the radèv8lopmÈnl of the Education Centre I'the R&dgvèlopmenl'). Having established the CIO it was considerèd lo be more effIclOuS foi the CIO lo tak8 over the rest of the bu5ine55 of the Original Charity and It did. The Redevelopment was Carried out by the Sheffield City Council with funds gifte(I to it by thè Trust. These funds were part of the assets transferred lo the Trust from the Original Charity pursuant lo the Transfer. The Original Charity continues for the purpose of receiwng legacies and grfts. For ease of ongoing managemènt of thè Original Charity, the Trust applied lo tha Departm8nt of Justice and was aulhorised lo b0[e the sole corporate trustee of the Original Gharity. obl•¢t[¥ and actl¥itie8 The objectives of the Trust a to improve and refurbish the Sheffield Botanical Gardèns Ithe"Gardens"1, its cdlections and it5 buildings for the education and befil of the inhabitants of Sheffield and its surrounding are85. The Tru51 raises fvnds for the dev8loprnent and refurbl$hment of Iha buildings 8n¢J lighting of the Gardens. their interprelalion and promotion and the improvem8nl of thè plant collection throughout the Gar¢Jen5. 11 a180 raises fvnds for the provision of education programmes relaling lo the Gardens b85ed in and around tha Edu¢8tion Cenlre. The Ttustses confirm that they have referred to the gL4idance contained In Ihe Charlly Commission. general guidance on public bengfil when rewewing the Twst's aims and objectives and in planning future actimties.
Sheffield Botanical Gardens Trust Trustees. Annual Report (¢onlinued) Year ended 31 March 2024 Achl•v8mgnts and perfomian¢• We received income from a combination of donation5, grants and investment income. The Trustees wish to recoid th8ir 9ralitude to supporters who generously remembered thg Trust with a legacy in their wills.. Mrs Patricia Parker1£26,092} and Dr Jill Thompson1£345,6061. Slnce 2018 we idenlffied four key capit81 expenditure project5 that we wanted lo drive fomard lo Tmprove the gardens in partnèrship with the operator of the Gardens, Sheffield City Council-11} the renovation and upgrade of the composting and recycling area,121 the land drains fof the events lawns,13) the renovation of the railings and gales and141 the renovatiorb of the pavilions. By 2021 projects 11}. 121, and 131 had been compl&t8d with thè support of the Trust,. the renovation and upgrading of Ihe composting and cyCling area,. the renovation of the railings and gates", and 8 suNey report investigating the slalu5 Of the drainage under Ihe events lawns had been undertaken by Sheffield City Council and It was decided that no further works werè rÈqLj1d lo the events lawn drainage system at that ts'me. The Trustees are plaasÈd lo report that project141, the renovation ol the pavilions was almost cornpleted at the beginning ol this period. This projecl was the largest of Ihg four 2018 largel proiecls with a costing of rca £60,000 and was funded by Sheffield City Council with contributions frorn the Trust and £33,000 from three10¢o1 ¢harilies Ishgffield Town Tiusl, Freshgate Foundation and JG Graves Charitable Trusti. The pavilions contain a contactlesg giving donalion station. This enables wsitors to the pavilions to donate to the Tru51 either w(th cash in the old milk Churn or by card with the nthv device. In May a Summgr Garden Party, arranged by the Trust and fulty sponsod by the Sheffiekj Assay Office, was held in the Gardens, attended by local dignit8ries to cèlÈbr8tÈ the iefurbishment of the pawlions and fountain. Key attendees were the donors who made Ihese projects possible. The Tnjst funded a blue plaque to commemorate the achievèments of Robert Mamod(, the Botanical Gardens designer and first Curator, whith wa5 in51alled al the galehou5e and unveiled on 18 March 2024. The Tru51 a150 approved funding for a planting programme put forward by Andrea Jones, the Head Gardenèr, which included fi projects together costing £9,500. Some of these projects will commence in the next period, however two specimen tTees have already been purchased and planted, The Twsl is pleased lo be associated with the Queen's Green Canopy project, which involved planting over a million trees across the nation to celebrate the late rnonarch's Platinum Jubi18e. The 58pling oak. offered lo the Trust for the Gardens by the Lord-eUtenant for South Yorkshire. Professor Dame Hilary Chapman DBE, was planted on the South Lawn wth a plaque marking the tree funded by the Trust. The TNst ts)ntsnues lo suppjrt a rolling pmgramme of maintenance and r8pair of the benches in the GaTden5 Wlth Sheffield City Council. This includes a rollin9 programme of upgrading the stock of garden benches wilh new metal benches. They require rninimal rnainlenance, will be more 5U51ainable for the Gardens and whose longevty and robustness should ensure less inconvenience to the Gardens, visitors than sometimes experienced with breakages lo the existing wooden bench stock. This is a c(mlinuous prograrnme and call upon the resources of the Trust. The Trust continues to bè a part funder of the education officer p051 for the Dorothy Fox Education Centre as part of th8 successful application by Sheffield City Council wr(h the Tru8t to the National Heritage Lottery Fund INHLFllsee Note 17 Contingenl Liabililiesl. The ¢ontribution by Ihe Trust to the funding of this po$1 for Delivery Phase expire(l in this pÈriod and the Trust h8S rnèt this financial oblig8tion of £16.007 in full latthough it wa5 invoiced and paid in the next period). The Twst continues to be liable for a potential £8,01 £9,000 per year of funding in connection with thi$ po$1 for the next threa financial periods lunlil the period ending 31 March 20271.
Sheffield Botanical Gardens Trust Trustees, Annual Report (ronllniwj) Year ended 31 March 2024 Sgveral of the Trustees have continuéd to work with FOBS on a project lo install a prefabricated building lo sèrw as a volunteer facility. It will bè sited in the maintenance yard below th& Education Centre. In this period. the site has been fulty deared, the ¢oncrete 51ab has been extended to fit the specifieations for the prèfabri¢aled building and the wall bordering Southgrove Road has been cleared of (lage and new metal fenung for new gTCWth installed by Sheffièld City Council with the costs being met by the Trust. FOBS have submitted a full grant applicatson to the Trust requesting funding for this project and this was approved at the last Tn2St8es' meeting for this period. It 15 hoped that the ordering and delwery of the volunteer centre will be cornpleted during the next accounting period. The investment stratégy policy that was adopted by the Trust in thé 2017118 year continues in place Wth invg$lmenls made and continuing to be made in compliance with this policy. The ffinance sub-commrttee continues to meet and monitor the investment portfolio and additions thereto and reports lo the Trustees al every meeting. Financial rèvièw Unrestricted funds.. Incoming SoUrceS Inet of l induding gains on inv&slmenlsl amounted to £418,054 {2023 - £50,081) and expenditure of £26.523(223 - £14,374) was incurred. After thè $urplus for the year of £391,531 12023 - £35,707) unreslrE¢ted funds increased lo £1,120,725 as of 31 March 2024 {2023.' £729.194). Restricted funds.. Incoming resources amounted lo £Nil12023 - £36,980). The amount received in the PriQf ar was frorn a number of donats'ons from other ¢harities and individuals. Restrictèd expendrture in the year was £24,97812023 - £12.1801, the reslrided funds carried forward on 31 March 2024 amounting to £59,87412023.. £84.8521. R888rves are ¢urrently held in deposit 8(Ount$ and investments managa¢J by Rathbones {formerfy Inve8tec Wealth & Investment Ltd). The trustee5' annual report was approved on 15 November 21T24 and signed on behalf of the board of Iruslees by.. Mr M R Stevenson- Chair Trustee Mr M &bley Trust&a
Sheffield Botanical Gardens Trust Independent Examiner's Report to the Trustees of Sh•ffield Botanical Gardens Trust Year ended 31 March 2024 I report to thè trustees on my exarninatn of the financial statements of Sheffield Botani¢al Garilens Tnjsl I'the charty) for the ye8r ènded 31 March 2024. Re¥ponsibilities and ba$l$ of report As the trustees of the charity YOU 8re responsible for the preparation of the financial stalernents in accordance wth the requirements ofthe Charities Act 2011 I'lhe Act'l. I report in respect of rny exafflinalion of the charty's financial stslemenls Carried out under seth'on 145 of the 2011 Act and in carrying out my examination I have 101jW9d all the applicable Direction8 given by the Charty Commission under SeOn 14515llb) of the Act. Indepondent examlnerfs statomgnt Since the ¢harills gross income 8xc8eded £2,000 your examiner musl be a member of a body lisled in section 145 of the 2011 Act. I confimi that l am qualifièd to undertake the examination because l arn mernber of the Institute ol Chartered Accounlanls in England and Wales IICAEWI, which is one ol the listed tjodies. I have ¢ornpleted my axaminalion. I confim that no material matters have come lo my attention in nneclion with the examination giving me cause lo believe that in any material Spect.. accounting records were not kept in respecl of the charity as rgquir8d by Section 130 of Ihg Acl., or thè financial statements do not accord wth those records,. or the financial statements do not comply wrth the applicable quTremntS conceming the forwn and conlenl of accounts Sel out in the Charitie5 IAcLounts and Reports} Regulations 2008 other than any requirement that tt)e a¢count5 give a 'true and fairf view which is not a mptter considered as part ol an independent examination. I have no concerns and have come across no other matters in connection with the examination to whieh attention should be drav4n in this report in ord8r to enable a prop8r understanding of the accounts lo be reached. Stephen Allen BA {Honsl ACA FCCA Independent Examiner Om9ga CDUrt 3366 Cemetery Road Sheffield S11 8FT
Sheffield Botanical Gardens Trust Statement of Financial Activities Year ended 31 March 2024 2024 Restricted funds Total fund$ 2023 Unrestricted nds Total funds Note Income and endowm•nts Donations and legacies Total incgme 431.835 431,835 90,718 90,718 431.835 431,835 Expenditure Expenditu on challtable activities Totsl èxp•nditure 26,523 24.978 51.501 26,554 26,523 24.978 51,501 26,554 Nel losses on in¥gStmenl$ (13,781) 113,781} 13,6571 N9t Incom• and net movement In fund¥ 391,531 (24.978) 36e,553 60,507 Rèconciliation of funds Total funds brought fotward Totsl fund$ carried forward 729.194 84.852 814,046 753,539 1,120.725 59,874 1.180,599 814,046 The statement of linancial aetivrf(iès Indudes all gains and105585 rEcognised in the yaar. AJI income and expenditure derive from ¢x)nlinuing activities. The notes on pages 8 to 14 form part ol these flnan¢ial statements.
Sheffield Botanical Gardens Trust Statement of Financial Position 31 March 2024 2024 2023 Note Flxed assèts Investments 11 Current assets Debtors Invèstments Cash al bank and in hand 12 13 17,361 908,124 2Sg.361 11.669 568.069 238,387 818,125 1.184,846 Creditor5: amounts falling du• within one year Nel current assets 14 4,248 1,180,598 4.080 614,045 Total as8ets less current Ilabllltles 1,180,599 814,046 Not assets 1,180,599 814,046 Funds ofth• rharlty Reslricled funds Unrestricted funds 59,874 1,120,725 84,852 729,194 Totsl charlty funds 15 1,180,599 814,046 These financial stalernents were approved by the board of Iru5tees and authorised for issue on 15 November 2024, and are signed on behalf of the board by.. Mr M R Stevenson- Chair Twstee Mr M Sibley Trustee The notes on pagos 8 to 14 forni part of these flnanclal Statèments.
Sheffield Botanlcal Gardens Trust Notes to the Financial Statem•nts Year ended 31 March 2024 General Infomiation The charity is a public benefit entity an¢J a registered charity in England and Wales and is unincorporated. The address of the principal office is Omega Court. 364366 Cemetery Road. Sheffield, S118FT. stat•rnt of compliance Thèsè fin8nryal slalements have been prepared in compliance with FRS 102, 'The Firkincial Reporting St8ndard applicable in the UK and the Republic of Ireland,, the Statément ol Recornrnended Practice applicable lo charit$ preparing their accounts in accord8n¢e with the Financial Reporting Sland8rd appli(¥ble in the UK and Rapublic of Ireland IFRS 102) (Charities SORP (FRS 1021} and the Charities Act2011. Accounting poli¢ies Basis of prnparati¢)n The finan(ial statements have b&gn prepared on the historical cogt basis. as mOdifd by the revaluation of ¢trrt8in financial assets and liabilities measured at fair value through incom8 or expendituft. The financial ststernenls are prepared in sterlin9, whith is the funclional rreNCY of the entity. Going concern There are no material uncertainliès about the charity's ability to ¢tsnb"nue. Judgements and key •our¢es of estimatlon uncertatnty Judgeme1 and key sources of eslirnation uncertainty In Ihe application of the Charity's accounting policies, the TrLJStee8 are required to make judgements, eslimates and assumptions about the carrying amount of ass8ts and liabilities Ihal are not rgadily apparent frorn other sources. The eslirnates and aSS(lated assumptions are based on historical experience and other factor5 that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underlying assumpb'on5 are reviewed on an ongoing basi5. Revisions to a¢counllng estimates are racognised in the period in which the estimate is revised wh8r8 the $ln affects only that period. or in the period of Ihe rewsion and future periods where the revision affects both Current and future periods. There were no signifintlUdgeMents oi estimates in relabon lo the year under raviaw. Fund accountlng Unreslricte(I funds are available for use at the discretion of the Iruslees to further any of the charity's purposes. Designated funds ar& unrestricted funds earmarked by Ihe trustees for particular future projed or commrtrnent. Restricted funds are subjected to restrictions ¢)n Iheii expenditure declared by the donor or through the terms of an appeal. and fall into one of fv40 sUba$se$.. restricted income funds or endowrrenl funds.
Sheffield Botanical Gardens Trust Notes to the Financial Statements (¢onllnued) Year ended 31 March 2024 Accountlng poli¢195 (cortlnu•dJ knv•stment¥ Unlisted equity investments a initially recorded al cost, and subsequently measured at fair value. If fair value ¢annol te reliably mèasured, assets are measured at cost less impairment. Listed investments are m8asui&d al fair value with changes in fair value t*ing reojgnised in income fx expenditure. Investments in as$o¢iatrs Investments in associates accounted tor in accordance with the cost rnodel are recorded al cost less any accumulated impairment losses. Investments in asswate$ 8c¢ounled for in accordance with the fair Wdlue model ara initially rgcorded at the transaction price. Al each reporting date. the invèstments are Tneasured at fair value. with changes in fair value taken through income or expenditure. Where il is impracticable lo measure fair value reli8bty without undue cost or efftjrt. the cosl rnodel will be adopted. Dividends and other distributions received from the invesllnenl are recognised as Income without regard to whether the distribution5 are from accumulated profits of the associate arising before or after tha d8te of acquisition. knpairm•nt offlx•d a•t$ A rewew for indicators of impairment is carried out at each reporting date, with the recoverable arnounl being estimated wh6rè $uch indicators exist. whe the carrying value exCeS the recoverable amount, the asset is impaid accordingly. Prior impaimenls are also reviewed for possible reversal at each reporting dale. For the purposes of impaiifflenl lesling. when it is not possible lo estimate the recoverable arrounl of an individual asset, an estirnale is made of the cOverable amount of th8 cash-generating unit to which the asset belongs. The castt-generating unit is thè smallest identifiable group of assets that includes the asset and generates cash inflows that large¥ independènt of the cash infflows from other assets or groups of assets. Donations and l•gaclo8 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations from FOBS Donations from individual$ Fee, Events and Sponsorship Sponsorship of pan85 of glass, trees and benches Interest & Investment inGorne Donations from Dther org8nisalions HBO Filming iO.OLKJ 7,735 7,000 10,000 7,735 7,000 33,2 33,902 1,500 1.500
Sheffield Botanical Gardens Trust Notes to the Financial Statemonts (contlnu*dJ Year ended 31 March 2024 Donatlons and legacles (eonlinyed) Unrestricted Funds Restricted Total Funds Funds 2024 L•gacl95 Legacies 371,698 371,698 431,835 431,835 restricted Funds Restricted Total Funds Funds 2023 Donations Donations fr(xn FOBS Donations fr individuals Fee, Events and Sponsorship Sponsorship of panes of glass, trees and benches Interest & Investment incorne Donations from other organi5ations HBO Filming 15,000 8,354 4.000 450 25,934 15.000 8,354 4,000 1,950 25,934 35,480 1,500 35.480 Logacios Legacies 53.738 36,980 90,718 S. Expgndtture on charitable octivitles by fund typtr Unrestricted Funds Reslrided Total Fund Funds 2024 E¥pendilur8 26.523 24,978 51.501 Unrestricted Funds Restricted T¢)t81 Funds Funds 2(r23 Expenditure 14,374 12,180 26.554 10
Sheffield Botanical Gardens Trust Notss to the Financial Statements (¢ontrnu•d) Year ended 31 March 2024 Analysls of èxpgndlture 2024 2023 Accountancy fèès Independent examiners fées Stats'onery and postage Project costs and repairs In$iJran(* Donation Kiosks I W8bsite etssls Bank and inveslrnenl Charges Legal and professitsnal fees Room Hire 3,498 750 3,310 750 38 18,332 623 2,%2 429 110 44,468 554 1.584 370 60 217 Total 51.501 28,554 Includèd within the expenses is £24,978 of restricted expenditurg for projects to repair and maintenance the gardens. 14et losses on investm•nts UnstrICd Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Gainslllosses) on other investment assets 113.781} {13,781) 13,657) 13,657) Indepondgnt examlnatlon fe 2024 2023 Fees payable Its the independent èxaminer for.. Independent examination of the financial statements 750 750 Staff costs The average head count of ernployees during the year was Nil12023.. Nill. No employee received emoyee benefits of more than £fjO,000 during the year12023'. None). 10. Trustse remuneration and exp•n$e$ The Iruslees received MUneration of £Nil {2023.. £Nill. The Irusleas received expenses of £6012023.. £501. 11
Sheffield BotaniGal Gardens Trust Notes to the Financial Statements fGonfrnue¢l) Year ended 31 March 2024 11. Investments Shares in group undèrtakings Cost or v•lu¥tion At 1 Apr 2023 and 31 Mar 2024 Impalrment At 1 Apr 2023 and 31 Mar 2024 C?rrylng amount At 31 Mar 2024 Al 31 Mar 2023 All inveslmerts shown above are held at valuation. 12. Debtors 2024 2023 Prepayments and ac(Yued inrtsme Other dèbtois 2.336 9,333 17.361 17,361 11,669 13. Investmènts 2024 2023 Quoted Securities 908,124 S68.[9 During the year, addib.onal investments of £460,019 were made and sales of Inveslrnents lolalling £105,746 were made. Due lo the fall in the market values during the year, there was a fair value adjustment of £13,781 al the year end. 14. Crèdttorn: amounts falling due within on• year 2024 2023 Accruals and def8rred income 4.248 4,080 12
Sheffield Botanical Gardens Trust Not8S to the Financial Statements [n11nUettJ Year ended 31 March 2024 1S. Ana15 of charitable funds Unrestrf¢tsd funds Gains and At lossès 31 Mar 2024 At 1 Apr 2023 Income Expenditu Goneral fund8 729,194 431,835 {26,523) 113.7811 1.120,725 Gasns and At losses 31 Mar 2023 Al 1 Apr 2022 Income Exwndilure General funds 693.487 53,738 114,3741 {3,657) 729,194 Restrlctfrd funds Gains and At losses 31 Mar 2024 At 1 Aw 2023 Incorne Expènditurg FOBS Projact and activrties SheffEld Town Trust Sir John Osbome Charitable Trust J G G¥aves Charitable Trust Freshgale Trust Sheffield Assay Office other restricted funds $0,352 20.OCM) 50.352 8.522 113,4781 3.000 10,000 3,000 110,tK)01 1,500 84,852 1,500) 124,9781 59,874 Gains and Al losses 31 Mar 2023 Al 1 Apr 2022 Income Expenditure FOBS Project 8nd activities Sheffield Town Trust Sir John Osbome Charitabl* Trust J G Graves Charitable Trust Freshgale Trust Shèffield Assay Office other restricted funds 50,352 8,20D 50,352 20,IK)O 20.000 (8,2(N)} 1.SC {1.5> 3.000 10,000 2,480 1,500 36,980 3,000 10,000 12,4801 1,500 84,852 60,052 (12.180) 13
Sheffield Botanical Gardens Trust Notes to the Financial Statements (cQnlthuj Year ended 31 March 2024 16. Analysls of net aM•ts beiwoen funds Unrestricted Funds ReStried Totsl Funds Funds 2024 Inveslments Currènt assets Creditors less than 1 year Nat asstrts 1,124,972 14,2481 1,120,725 59,874 1,184,846 {4,2481 1.180,599 59,874 Unrestricted Funds Restricted Total Funds Funds 2023 Inveslrnents Current assets Credilots less than 1 year Ngt assets 733,273 (4,0801 729,194 84,852 818,125 14,0801 814,046 84,852 17. Contingent Ilabiliti¥$ The Trust issued a grant offer letter lo Sheffield City Council for the education officer for thè Eduealion Centrè project.11 offered to rnatch fund with the National Heritage Lottery Fund (NHLFI the cos15 of development officer lor one yèar to forrnulale a year education progr8m for delivery by an sducalion offi[ {the "Development Ph85e'? and the costs of an education officer for delivery of that piogramrne ov8r the next fvjo years Ith8 "Delivery Phase,). The Delivery Phase wa5 contingent upon NHLF agreeing the education piograrnme. The liability of the Trust for the Development Phase was £4,656 and this has been met in full by Ihe Trust following completson of the 0pent Phase. Following the successful appli¢alion to NHLF by Sheffield City Council lassisled by the Trust) for funding for the DelNery Phase in early Summer 2021, tho Trust wa5 liable {on a mal¢h&d funding basis) for part of the cxjsts for the edutiOn officer for the tsyo year Delivery Phase of up lo £16.007 (approximately £8,000 per annuml which phase ha$ now complelerj and the Trust liability has been met in full by the Trust (although invoiced and paid in the next period}. Under the NHLF agreement, the Trust is committeil lo a potential £8,000 - £9,CD) per annum of ftrnding for years >5 linclusivel of the e¢Yu¢atson officerfs post vthich. provided Ihe project is not ftjrther extended, will expire in the period ending 31 March 2027. 14