The Roman Baths Foundation
Charity No. 1163044
Company No. 09454235
Trustees' Report and Unaudited Accounts
31 March 2023
The Roman Baths Foundation Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 4 | |
| Independent Examiner's Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 12 |
Page 1
The Roman Baths Foundation Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 09454235
Charity No. 1163044
Registered Office
Pump Room Stall Street Bath Somerset BA1 1LZ
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
D.J. Baker A.J. Beeson (Resigned 14 April 2022) R. Campbell S.G. Craig (Resigned 17 April 2023) P.A. Davenport M.M. England M.G. Forsyth R.M. Halton F.S. MacDonald F.A. Pollard P.J.M. Turner
Accountants
Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY
Page 2
The Roman Baths Foundation Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Objectives and aims
-
to promote, preserve, develop, maintain and manage the Roman Baths and Pump Room complex, Bath, United Kingdom and all buildings, monuments, collections, structures and archaeological remains and artefacts appurtenant to or associated (whether by location, history or otherwise) with the same (together, "the Roman Baths"); and/or
-
to advance the education, interest and appreciation of the general public with respect to the Roman Baths, and/or
-
to advance and support all aspects of popular and academic study into the Roman Baths for the educational and wider benefit of the general public, including (but not limited to) the discovery, investigation and protection of archaeological remains and artefacts; and/or
-
to pursue such other charitable purposes beneficial to the public and consistent with the Objects above, as the Trustees shall in their absolute discretion determine.
When reviewing the charity's aims and objectives and planning future activities, the Trustees have had due regard to the public benefit guidance published by the Charities Commission.
Significant activities
The World Heritage Centre and Clore Learning facility are now fully open and being well utilised. A review of the project was undertaken to ensure learnings from the build and operation have been taken into account as we now move forward into school and community groups returning and making good use of the new facilities.
In keeping with the purpose of the Roman Baths Foundation to support education and learning, we have paid for the full skeletal analysis, C14 dating, aDNA and isotope analysis of two individuals that occupied a sarcophagus discovered as part of the excavations at Sydney Gardens.
ACHIEVEMENTS AND PERFORMANCE
Fundraising activities
2022/23 saw things beginning to return to normal after the pandemic, but then world events including the war in Ukraine and the cost of living crisis have taken their toll on our fundraising, In support of the people of Ukraine at the beginning of the conflict, we introduced a donation button on the website alongside the ability to donate to the Foundation. This, together with an unusually generous income during 21/22 has resulted in the webstore donations returning to more normal levels compared with the prior year. As overseas visitors started to return to the Roman Baths, donations from the Circular Bath have returned strongly and were more than double the prior year. We no longer collect donations from the Circular Bath (as the coins became degraded in the water) but the Foundation benefited this year from the cashing in of the last of the garbled coins from the Circular Bath.
FINANCIAL REVIEW
Reserves policy
It is the policy of the Foundation to set aside unrestricted funds to provide reserves in order to protect the future operations from the effects of any unforseen variationsin its income streams or expenditure. In line with good practice and sound financial management, the trustees aim to build up the Foundation's reserves to enable it to meet its Objects in support of the Roman Baths at Bath.
Page 3
The Roman Baths Foundation Trustees Annual Report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its memorandum and articles of association as amended by special resolutions on 16 March 2015 and 19 April 2016. On 24 April 2017 by Special Resolution the trustees increased the maximum number of elected trustees from nine to eleven.
Governance
The Board of the Trustees met four times during the year. The July 2022 meeting and Annual General Meeting were held in the Roman Baths as were all meetings during the year as we were able to return to face to face gatherings. At the 2022 Annual General Meeting, Siân Macdonald and Robert Halton stood for re-election to the Board and were both re-elected. The Foundation also acknowledged the sad passing of Anthony Beeson and thanked him for his service to the Foundation, all other Trustees remained active on the Foundation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The following trustees were appointed by Bath and North East Somerset Council: Councillor S G Craig and D Baker. In April Councillor S G Craig stood down ahead of elections and a replacement Councillor is yet to be announced.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
F.A. Pollard Trustee 17 July 2023
Page 4
The Roman Baths Foundation Independent Examiners Report
Independent Examiner's Report to the trustees of The Roman Baths Foundation
I report to the charity trustees on my examination of the financial statements of The Roman Baths Foundation for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements 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 your charity's financial statements as 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 examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
T R Case FCA (ICAEW) Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY 17 July 2023
Page 5
The Roman Baths Foundation Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 4 Investments 5 Total Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 26,876 105 |
Restricted funds 2023 £ - - |
Total funds 2023 £ 26,876 105 |
Total funds 2022 £ 66,349 - |
|---|---|---|---|---|
| 26,981 - 19,860 939 |
- - 233,828 - |
26,981 - 253,688 939 |
66,349 54 10,000 1,021 |
|
| 20,799 - |
233,828 - |
254,627 - |
11,075 - |
|
| 6,182 (6,561) |
(233,828) 6,561 |
(227,646) - |
55,274 - |
|
| (379) | (227,267) | (227,646) | 55,274 | |
| (379) 40,983 |
(227,267) 232,267 |
(227,646) 273,250 |
55,274 217,976 |
|
| 40,604 | 5,000 | 45,604 | 273,250 |
Page 6
The Roman Baths Foundation Balance Sheet
at 31 March 2023
| Company No. 09454235 Notes 2023 £ Current assets Cash at bank and in hand 46,079 46,079 Creditors:Amount falling due within one year 10 (475) Net current assets 45,604 Total assets less current liabilities 45,604 Net assets excluding pension asset or liability 45,604 Total net assets 45,604 The funds of the charity Restricted funds Restricted income funds 11 5,000 Unrestricted funds 11 5,000 General funds 40,604 40,604 Reserves 11 Total funds 45,604 |
2022 £ 273,688 |
|---|---|
| 273,688 (438) |
|
| 273,250 273,250 |
|
| 273,250 | |
| 273,250 | |
| 232,267 | |
| 232,267 40,983 |
|
| 40,983 | |
| 273,250 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 17 July 2023
And signed on its behalf by:
F.A. Pollard Trustee 17 July 2023
Page 7
The Roman Baths Foundation Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
| Fund accounting | |
|---|---|
| Unrestricted funds | These are available for use at the discretion of the trustees in furtherance of the |
| general objects of the charity. | |
| Restricted funds | These are available for use subject to restrictions imposed by the donor or through |
| terms of an appeal. | |
| Income | |
| Recognition of | Income is included in the Statement of Financial Activities (SoFA) when the charity |
| income | becomes entitled to, and virtually certain to receive, the income and the amount of |
| the income can be measured with sufficient reliability. | |
| Donations and | Voluntary income received by way of grants, donations and gifts is included in the |
| legacies | the SoFA when receivable and only when the Charity has unconditional |
| entitlement to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as the |
| donations and gifts | gift/donation to which it relates. |
| Expenditure | |
| Recognition of | Expenditure is recognised on an accruals basis. Expenditure includes any VAT which |
| expenditure | cannot be fully recovered, and is reported as part of the expenditure to which it |
| relates. | |
| Expenditure on | These comprise the costs associated with attracting voluntary income, fundraising |
| raising funds | trading costs and investment management costs. |
| Expenditure on | These comprise the costs incurred by the Charity in the delivery of its activities and |
| charitable activities | services in the furtherance of its objects, including the making of grants and |
| governance costs. | |
| Grants payable | All grant expenditure is accounted for on an actual paid basis plus an accrual for |
| grants that have been approved by the trustees at the end of the year but not yet | |
| paid. | |
| Governance costs | These include those costs associated with meeting the constitutional and statutory |
| requirements of the Charity, including any audit/independent examination fees, | |
| costs linked to the strategic management of the Charity, together with a share of | |
| other administration costs. | |
| Other expenditure | These are support costs not allocated to a particular activity. |
Page 8
The Roman Baths Foundation
Notes to the Accounts
Taxation
The charity is exempt from corporation tax on its charitable activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 12,020 12,020 54 - 1,021 1,075 10,945 10,945 10,945 30,038 40,983 |
Restricted funds 2022 £ 54,329 54,329 - 10,000 - 10,000 44,329 44,329 44,329 187,938 232,267 |
Total funds 2022 £ 66,349 |
|---|---|---|---|
| 66,349 54 10,000 1,021 |
|||
| 11,075 | |||
| 55,274 | |||
| 55,274 | |||
| 55,274 217,976 |
|||
| 273,250 |
Page 9
The Roman Baths Foundation
Notes to the Accounts
4 Income from donations and legacies
| Donations Gift aid 5 Income from investments Interest 6 Expenditure on raising funds Fundraising trading costs Cash counting systems 7 Expenditure on charitable activities Expenditure on charitable activities Grants made Governance costs 8 Other expenditure General administrative costs Legal and professional costs |
Unrestricted £ 19,860 19,860 |
Unrestricted £ 26,876 - 26,876 Unrestricted £ 105 105 Restricted £ 233,828 233,828 Unrestricted £ 451 488 939 |
Total 2023 £ 26,876 - 26,876 Total 2023 £ 105 105 Total 2023 £ - - Total 2023 £ 253,688 253,688 Total 2023 £ 451 488 939 |
Total 2022 £ 66,281 68 |
|---|---|---|---|---|
| 66,349 | ||||
| Total 2022 £ - |
||||
| - | ||||
| Total 2022 £ 54 |
||||
| 54 | ||||
| Total 2022 £ 10,000 |
||||
| 10,000 | ||||
| Total 2022 £ 570 451 |
||||
| 1,021 |
9 Staff costs
No employee received emoluments in excess of £60,000.
Page 10
The Roman Baths Foundation Notes to the Accounts
10 Creditors:
amounts falling due within one year
| Accruals 11 Movement in funds Restricted funds: Restricted income funds: Archway Project Clore Learning Centre only Total Unrestricted funds: General funds Total funds |
At 1 April 2022 217,267 15,000 232,267 40,983 273,250 |
Incoming resources (including other gains/losses) £ - - - 26,981 26,981 |
2023 £ 475 475 Resources expended £ (223,828) (10,000) (233,828) (20,799) (254,627) |
Gross transfers £ 6,561 - 6,561 (6,561) - |
2022 £ 438 |
||
|---|---|---|---|---|---|---|---|
| 438 | |||||||
| At 31 March 2023 £ - 5,000 |
|||||||
| 5,000 | |||||||
| 40,604 | |||||||
| 45,604 |
Purposes and restrictions in relation to the funds: Restricted funds:
Archway Project
The Archway Project is the first project the Foundation is supporting through fundraising to establish a new Clore Learning Centre that will transform the Roman Baths' learning offer and World Heritage Centre for Bath that will be a free facility for the city.
Clore Learning Centre only Clore Duffield Foundation awarded the Roman Baths Foundation £25,000 from the Clore Cultural Learning Fund, to assist the Roman Baths Learning and Participation team with delivery of activities during the pandemic.
12 Analysis of net assets between funds
Net current assets
| Unrestricted funds £ 40,604 40,604 |
Restricted funds £ 5,000 5,000 |
Total £ 45,604 |
||
|---|---|---|---|---|
| 45,604 |
Page 11
13 Reconciliation of net debt
| Reconciliation of net debt | |||||
|---|---|---|---|---|---|
| Cash and cash equivalents | At 1 April 2022 £ 273,688 273,688 273,688 |
Cash flows £ (227,609) (227,609) (227,609) |
At 31 March 2023 £ 46,079 |
||
| 46,079 | |||||
| 46,079 |
14 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 12