Charfty [ryl$traOn number 1165434 Company registration number 06373460 (England and Wales) THE HEART OF THE CITY PARTNERSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE HEART OF THE CITY PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trte Mr GM Black MrJ Grundy Mr P Wood MrE Jubb Dr RM Pe*$ M$ T Caiffls R8¥8rénd P t)obson (Appoinled 9 June 20221 (Appoinlèd 30 November 20221 (Appointed 23 March 20221 (Appoirtted 7 December 20221 (Appointed 13 June 2022) Mi55 E Ma¢xobert IAiss K Mwntain Ms M Wlliams Charity number 1165434 Comp¥ny numbor C373160 RègISter offlee Fernwood House Fernwood Road Jesmond Newcastle upon Tyne United TrQngdom NE2 1TJ Audllor Robson LaiderAccountants Limited Fernwood House FerMwLxKI Road JesmorKI Newcasue up Tyne Tyne and ar England NE2 1TJ 8anker5 Handksbanken Earf Grey House 7M5 Grey Street Newcasue upon Tyne NE2 1TJ VI Money 5 Catue Mart8t Hexham NE48 1NJ
THE HEART OF THE CITY PARTNERSHIP CONTENTS Page Trustees. report Independent audilorfs rep(Kt 9-10 Statement of ffinancial ac11lieS Balance $heel 13 Notes to the ffinancial statements 14-22
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR EhlDED 31 DECEMBER 2022 Th8 trustees. who ar8 also direclors of tha charity for the purposes of the CoMnieS Act 20C6, present their report with th8 finanual statements of the d)arity for the year end8d 31 Dec8mb8r 2022. Th• trustees have adopt8d the promsions of Accounbng and Reporting by Charities.. Statement of Recommended Practic8 apF4icabl8 to etharities preparing thr alnIS in acu>rdance with th• Financial Reporting Standard applic8ble in the UK and Republic ol Irdand IFRS 102) {effe¢bve 1 J8nuary 20151- Obi8cttv•s and activiti•s The charity aims lo promole the advancement of edu( leamry in reL4tion to the history ond heritsge of the area around Newcasue Cathedrat., li partIcar NewGasUe Castle. in Nwcaslle Upon Tyne. In addition, it seeks to promote the advancement of culture and heritage by Ihe encouragernenl of the local community, and vi511ors lo the City. to appreaate and enjoy Ihe history and fabric of these buildings. It endeavours to preserve and protect Newcastle Castle as a building of historie interest and publ importance and speafieAlly the Grade 1 knst8d BuihYing$ and Scheduled Anrienl Monuments known 8$ the BL81 Galè and cast Keep. Background to CuThontActiviti•s Th8 Hèart of ihè City Partnership IHOCPI leases N8wr2slt• cast from N8wcasll• City Council at a p8ppercom renl gnd operates the heritage 8ssel as a preilominanlty p8id-for wsitor attraction. By following 8 4-year IDlling 51raleyic plan, ffinancial proloco15 and 5tn.ct lget management safeguarding the future of Newca511e Castle is best achieved through ensuring the buildings remain in use and Iheir significance. cultural and wider cornmercial benefits for the uty are understood and apprecialed by the pub&c as well as Ihe local bLFsinesses. As such, in 2022, Newcaslle Caslle looked lo offer Its¢ winupalty as a pai&frK 4rysitor attraction. open 7 days per week during school holidays 8nd 5 days outside of these. (knning hours We nmnalty 10am to 5pm and in any gnien year full dosure ol the 8ttr8¢tion on a norrn opening ijay is only permitted for a maximum of 10 days through the year this lg to faulilale l-d3y venue hires e.g. wedding5. as they occur balancing the publi¢ benefit derived from being open as a place lo wsit. New¢aslle Caslle 1$ aware that admi$sion fees ¢an exdude Fwplp wilh disposaNe inwmes and is keen to ensure ae$S lo this Fwrtage asset is possible fw all. Our admission charges slru¢ture allows diOUnt$ for rtain priorities e.g. unwaged, farllilies. d45abled, 5enK)r cilizens. Jrned forces, NHS el¢.. Iti non-pandemic years our doors have opened free of thaTge for at least 2 days (Heritage Open Day513nd one evening (rhe Late Shows) and we plan lo continue this from 2023. Admission fees are benchmarked against Similar attractions in the region. COVID.19 Impact Due lo the Coronavirus COVltk19 pandemic. HOCP temporarity dosed Newcastle Caslle operalions prior to lockdown 1.0. This was lo protect staff and kInteerS as well as the public. Newcaslle Castle re-opened to the public on 24th July 2020 vrith new safety measuies. tKN)knng procèsses, additional stsffing and kitemark qualifieation from VisitBritain'5 Good to Go Scheme artd ihe COVIt>19 Sècure venue ¢ertrfi¢ation. A re#sonablÈ rate of cuslomer return was experienced versus expectatKJn heVer numbeT5 were sNJnificanUy down on 2019. Considering almosl 54Vo of our paying admissions are overseas Msitors alongsidè factoring in low customer sgntimènt and confidèneè atross the industry, this is Ljnsurprising. local restrictions were inlroduc8d in September booknngs fell lo almosl zero overnight and ntinued at a very lryw level throughout those reslriclions until Lockdown 2.0 dosed Newcasde Castle once again. Newcastle Castle re.opened for its ffirst wsitor after Lockdown 3.0 on 22nd May 2021. NewStle Ca$Ue has. $in¢e then. been operating on 8 pre-COVID basis with free-flow visf(or exploralion iein51aled and walk-in admis$ons being en¢ouraged. During 2022 we increased our opening houTS from that 012021. moving ba( 10 7 day peT week opening duiwig the holiday penods, and are looking lo increase this further in 2023, where we wll have 7 day per week operations fromApril- October. A funding plan is in place. where we are actNely seeknng funding from several potentiat sourc8s. We remain vigilant lo new soure8s of funding b8coming availablè and adapling and developing our offerings to bring in luriher business. This is important to bLJild further resilièn( into thè organisation and operations whilst we also continually rewgw, r8W5e, and adapt short. mediurn lorterM plans through roll9 &Year StralegK Plan. Currently. HOCP have no other operational actMtte5 aside from Newca5Ue Cast. however, VISIIng for the fulure wll take Fla over the nexl fv* years lo infomi the road ahead.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Prln¢lpal Sources of Funding AS the taperg granl for Newcastle Castle ended in 2017. a strategy was developed allowing the business to work towards fjnancial self-suffiaency beiween 2016 to 2019 and beyond. 2019 saw the organisation generale a srnall surplus. one year ahe8d of plan. which, when mèasured against FmiOUS years indieAtèd thè org8nisation was on path to a stable and sdf-sustaining operational modd. equaly bolstered by the significant public benefil from ils core ath"wlies through admissions. leaming and oulreath. However. given Ihe impact of the CorOnavin I COVIL%19 pandemic in 2020 and 2021 perfDnnances. the principal SoUrS of funding for 2021 were grant-aid and admissions. sIMar to 2020. During 2022 applications were rnade foi both core funding and proje¢t4)ased work. The successful apph'calions were for project-based work and indude money towards working with a school on a British Wues Prcyect and the ation of a Medieval Tavem Night. The Medieval Tavem Night was a suttess Mth 5 of these entS sn9 out WÈ are looknn9 to continuè thwae @vents into 2023. 81 well as develcs) the lavem night #$ a ctrporate offer. ilst our bids plaTrd lor core funding in 2022 were UnsLcessl, we wdl be looking to apply to vatious olher funding bodies lo help 0)V these costs in 2023. Notable Item$ from th? AGGounts The organisalion ends 2Q22 wrth a defK)t bul a a&able cash b0. 11$1 Ihe organisaliw retains reasonable unreserved funds al the end of 2022 and wrth prudent and rutious Ixjdgel and slralegy me8svres in plac8 for 2023 thè organi$alion remains p05ib.ve regarding the opportunilie5 for ftjrther growth. Attoding grant fijnding to strengthen and mainlain that posilton wil be an aa of fow5 2023 and beyond. Our Staff & Volunt¢•rs HOCP currently have 22 stsff meFnbw5. Staff roles wveted senwjr Management. SUn+15 management. marketing, venue hire, retail display and purch8%ng, leaming, inforrn81 learning, finale and front-of-house. The whole team was 5UPPOrted by strong leadership through managemenl who were in lum supported by thè board ol Iru51ees and a sub-committee of the board, the Business Management CoMMee (BMCI. Staff were further supported by our team of volunteers. Thè Vnteer4Jase has reduced in sizè over the last few years due to the pandemic, and is curmnuy around 10 strong. wilh around 8 bÈi)g very regulady active. Th8 volunteers were involvgd in several aspect5 of the running of cast indtKling delivering.. Leaining around 10 vdunleers carne in regularly lo delNer tours to schools. assi51 in kshopS and carry out FREE famity act1WS. Towards the end of 2022 we saw an uptid( in vdunteer al¢all9$ for 2023 as well. Events- We have a sm311 pool of ar¢)und 5 volunteers a5S1StiThJ wth the delivery of our events program. Re-enaclmenl - We have a small group ol ar(xJnd 10 vohjnteers ¢atled the New81 Array who provide live historical interpreiation OTlSrte at the Castle Keep. In 2022 we undertook 4 events both at th& Castle tt5ell, and at other siles such as Notham Casue. We are looking to e¥pand this to 4 fu4 onsite &ven16 in 2023 along wrth participation on at least one day in each week of every school holiday Work Hacements In 2022 we restarted the practice of taking on students on woth pLwnenls. In lolal we had 16 sluElenl$ complete a work placement at Newcasrfe Caslle. induding 3 long lerm placements frorn Uner$It1e5.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2022 Publlc B•fit The tnjstees confim) that they havè rèfÈrrÈd lo thÈ Charrty ComNMssK7's tyJid8nce C public benefrt when reviewN)g the Ttusfs aitns and objectives and in planning fvlure acbvlt1. Referring lo our otyectives and actiirib$$. and maintaining independent finanoal sustain8bilty Ss core to preserwng and protecting the building5 we operate. Keeping the tlIdIng5 in the hearts and minds of local mmunities and those frcrfn further afield is a key engagement target. As in 2020, 2021 rnnlinued lo be challenging year for this and other areas of putAi¢ benefit due lo the challenges raised by the Cw)na¥iru$ COVID- 19 pandemic. The 4 years of perf[rnan inrjuding and Pri to 2019 sees the organisalion making progre55 towards ed)ving these and our proposed 2020 calendar of oul-of-hwrs events as well as our Val general admissions, dbjttal engagement through blogs, gS and soaal media fdlowing were proof of Ihis. Never-the-less Ihe core issue faced in 2022 was of ensuring surmval of the organisatw so that il could wnlinue ID delivei public benefil in the firture. The organisalion therefore stru( a baLHnce ir) diiecliori of resource5 towards mainlaining incomè through seekn.ng core grant fundirrfj. proiect granl funding to upgrade experience and growng our other Income-generating serwce offerings induding education. oulreach, events. and venue hKe. Our formal Isd)ools 8nd groups) educ8bM pro4rysitin. infoml leaming (outreach and eady-years promsion) and InforTnal lifebng learning linlerpretats"on. events, lalKs. lectures elcl is at the heart of delivering OLK ability to preserve and protect Newcasue Castle, by nLtrturing and fosterang understanding ol the building's hislorical significance, as well as promotsng the advancement of cure and hèrilage. In 2022 we wekomed a total of 3667 pupils to the Casue as part of formal Fduc*ignal gioups. th a t¢Aal of 99 separate group bookings accounting for this. 71•/0 01 these visits were full day txK)kings belween 10am and 2pKn led by our leamiwig 51aff and volunteers. using our workshops and [esou8, induding the Harbotrfe Suite. also saw a relum to schoo15 booknng Outreach Msils from the Castle into Iheir classrooms. vM(h a total of 13 Outreach visils booked in 2022. The Oulrea¢h Offi¢er was 81$0 integral to the events wogram. delivering a successful pilot of medVal NewSe Walking Tours which we are continuing in 2023 and being integral to seeuring the funding and ory8nisiNJ the Medieval Tavern Night events which proved axtremely potxjlar in the setthd haw of 2022. In addition to the primary offer. to ensure that those not engaged adivety in visiting heritage attractions are induded nd diawn into the fold, we would normally offer a range of wnmersNe. interactive experiences and events, such as filrn nights. talks, lectures, theatre shows and workshops on carefully $¢leded days and gning. ThosE are usually aimed at children. families and a1$ and work towards attra1ng and involmng diffeienl audiences lo just the 'heritage consurners,. In 2020 2021 this COme stream wa$ L3rgely dormant, but in 2022 we recruile¢J a part time Events Programming Assi$18nt for 2 days per week to reslart our events program. This evenls wogram brought in just over £33,CrfJO in ints)me in 2022, giviThJ an idea of how successful il wa5 in engaging with audiences despite the hjll from Covid and the facl that w8 only had a member of staff in place for 10 months of the year. We hope to build on this success in 2023. incorporating Tavem Nighis 8nd WkIng TlIS into our general range of film nights. Iheatre and other events. Venue hife I priwale hife offered peO1e a way to engage and itrteract wilh Iheir heritag8 whilst providing an additional income stream t¢J support Ihe sustainablty of Newcastlg Ca511e and the delivery of the charitable objeols. Some bO0.n9$ whiGh weie due to take fv in 2022. were moved into 2023 ¢Jue to the continued impact Cwd -19 had on client's finance5. Our retail offer. in the tirnes we have been open in 2U20. provided fvrther Bdu¢ztional resourGes11)LN)kg. toys etcl rdating to the Castle and 11$ direct surroundings. By having lo1 suppliers and crafters suth a$ The Crafty Bag and Turn It Up sell their products via the retail store, Newcastle Castle invofved local communitie5 and displayed their culture lo loca15 and people from afar. alike. Equamy. money made from the relail offer supported Ihe overall 5U8tainaMity of Newcast(e Casue and the delivery of the HOCP tharilatjle otiects. We continue to explore avenues of partnership working wlh NeWstle Cathedral and som& of the arèas of current discussion indudejoinl ticketing. stsff Tesourcing a Jcmnl kaming offer.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The volunteers were involved in several aspects of the wnning of the Caslle induding delivering.. Learning- around 8 volunteers came in ¥egUla lo delrver lours lo sthools. assist in workshops and carry out FREE family actiwties. IPTe-cOV1lg assisting with school session delivery and during COVID-19 the group of volvnteers have kept togelher and Sltpported each other using virtual meetings and the like. Most of this group have now retumed lo volunteering. with around 2 still primarily engaging through regular weekly online meetings) Events- Our even15 program has slarted back up. but we have yel lo replace the small pool of volunteers who asSsted with even15. Thi5 will be a prioTty gc¥ng forwards. Reonactment- We have a small group of around 10 voluntrs called the Newcastle Array who provide live historical interFxetalion induding displays of medieval food, games, demonstration of tiades such as leatherwork & portiayal tsf mevnbers of Newcasde's Ttswn Militia. No re-enactment evenls weie carried out in 2020 or 2021. These were pul on hold unkn"I furtheT notice due to COMD-19 safely measures on s11e. Most of the Newcastle Array awe now actively volunteering again and we have a srnall number of even15 planned for 2022. Achlevements and p•rf0mn¢è Pre-COVID, 2019 visitor numbers frjr the 4th year running increased by 4.13°A from 2018 to 34690 paying visilors. 2019 shows an increase of 5.7°A in tickeled admissions numbers from 2017. 2016 saw a loial 27664 paying visitors with 2019 figures representsng 3 20.25% increase on that year. Our UK to non-UK visitor split over 2018 and 2019 was 46¢A UK to 54OA non-UK averaged across the yeaTS_ Clearly this was significantly lowei in 2020 and 2021 due lo the major diop in 5110rS from overseas lo the UK. 2021 ticketed admissions numbers lexdudes learning piogramme ailmi5sion5 and oul-of-hours evenfs admissions) unsurprisingly. due to closure and impact from pandemic decreased significantly from previous years. In 2022 we saw a significanl increase in wsilor numbers and a move ba( towards p-t0d levels. The total visitor numbers for 2022 was 28,279, 3 77QA in¢re8se on 2021. lIst visitors numbers are down on 2019. this is to be expected due lo a change in operations. and the introducb.on of seasonal opening hours. In 2022 we opened 81 % of Ihe d8ys. and saw 81. of visitors compared to 2019. This shift back towards pre-cowd levels we hope wll continue into 2023, where we will look to increase 7 day per week opeiation to April - October (not just school holidays) and continue to InCSe our visitor numbers. Annual Visitor Numbers 40,OW.00 35.OCO.DO 30.OCO.00 25.CCQ.00 1n.oco 00 5.CW.00 0.00 11 c-.uèl 2?15 • 4ci1Jèl 2016 •AcriJai 2017 •AcEiJ31 ?Qlo •A=-.uèl 2-.19 * 4ciua' 2Q20 ll Actual 2nii • AcriJJl 2022
THE HEART OF THE CITY PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2022 Al the end of 2021 ¢)ur ne¥etter subslberS nurNLwed 2585. By thg of 2022 Ihis had infxeased lo 3344 subscribers. Genety, subsrJibers appear lo be persons who are intere51&Y in Newcastle Gaslle's out-of-normal hours programme of events, taks. lectures. film nights and the like. We aLs0 introduced a Medieval Tavem Night Mewslett¢r fvllpwing the su¢5$ and regul¥ $¢1 out of trse events. This 1$ updated as and when lavem night events ale put on sale. A5 of the eThl of 2021 our average opw rate for newsletters was 38.2%, by the end of 2022 this had increased lo 39.A. In 2020 the Newcastle Casue websile was refrethed with a new online bc4thng system added which also allowed people to Purchase db3f(al guidebcwjks and audio guides. Unique visitors to Ihe website in 2022 increased by 72%, rising from 45.000 to 77.000. This was aco)mpanied by 159,000 p8ge views 8 56% tn¢rease on the pwous year. Across the yèar social mÈdi8 engagement consisted of 12,288 FabTr)k busines5 page followers la rise of 923). 4450 twitter followers (a rise of 109) and 3876 Instsgram folowers la rise of 4421. We also k)oked lo ulilise our fik Tok and Linkedln accounts, eath having a followiThJ of 243 and 266 rèspÉ¢tively. This is somèthing %¥È arè kgoknng to grow and utthse more moving Into 2023. We also ¢onlinued to use Google My Bugness in 2022. Dumg the last qu•ter of 2022 appeared in 93,936 searches and saw 153,000 visits to our business w0fi. We are currentty ranked 11th out of 296 things lo do i Newcastle on TripAdvisor. wth an overall rating of 4.5 slars from 9S1 rewews. Our Castle podcast was released in 2021. wilh appioximalely 2000 Wbsb[s. Wo wgr? unable tr) mainlain a regular po(kasl in 2022. and as such this is not a priorily for rnarketing in 2023. We believe Ihat altemab've. t-Of-hoUrs ojliural event prc*Jramming ran attract a more drverse audience and introduce them to the history and heritage of the site. Whilst in 2019 we put on 56 film nNJhls. 9 theatre nights lacross 3 sh(swsI. 4 music nights auoss 4 local perfomiers. 10 talks and several oiher cultural activities. out of hours, like wtsrkshcos and tours thè wnpael ol the pandemic meanl we wer8 only 8blè to pul on one Valenline's film night in 2020. We were able lo increase this level wlh the rein1rlUK)n of our events programme In lal¢ 2021. and hosted four talks and two evening tours. as well as some half letml school hdiday craft activities, In 2022 we h051ed 16 talks, 25 films nights. 8 after hours lours. 9 ¢ity walknng tours. 2 theatre nigh15. 2 fnusic nights, 4 tavern nighls and 6 other ents. While this isn't * the same kvel as 2019 it has nonethekss been signrficantfy highei than in the aftermalh of the pandemic and sh¢)ws a retum to nornial operats. It has also broLhJht in a significant extra inccrfne of around £33,OLK] in lolal. Throughout the pandemic we have Suppryted OKIOS. local authoiity other organisalions vAthln our sector, DCMS, the Bank of England and Ihe Chamber of CommerrE by giwng ts.mely and critical feedback and Intelligen lo help inform policymak8rs. Focus for 2022 Prior to the oultxeak of Coronwrus (COVI19) and the UKS lOckdn5. we had anticipated focusing on the below, as in 2019. Increase wsitor figure5 Focus on Taising awareness to local wsitors and %&isiiors frcrfn olmseas Become more famity-frtendly Inlrcduce Eady Years provision Raising awareness of Newcastle CaSe as a wedding venue Raising awareness of Newcastle Caslle as a venue for hire Make Nowcastl8 Castle more personable using Castle Characters Putting the Ca$lle ba¢k into N¢w¢asll¢ a$ part oflhe Wetlood ofthe oty Mote targeted events sthedule
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 As the environment has thanged dramatic8lly due to the CLYonavrus ouibr¢ak aThJ the post4c3ckdown business sphere is very drfferenl, we wil be looking lo focus on the foll(Mryng in 2023." Growth of income streams reintrodUd in 2021 and 21Y22 hamng been hahed due lo heahh 8nd safÈty concems duiing 2020. Growth of our main source of income via admissions ticketitwJ. We wtll introduce an annual pass and change our Gift Aid stheme lo en¢ourage Ter visits and offw bett8r vau8 fc¥ money. Operalional slabilisalicffi through maximising revenue from irwrne streams and granl fvnding Maximise value for money thrgh staff engagement On•site Further devehjp the venue hire offer espea'amy for weddings. COte hire and corporate sponsorship Adively seek fvnding and ¢(Nnmunity engagement funding LDnger-temi planniry As with many vi5rtor attractions, Newcasle Castle relie$ predominanity on wsitor admissions income to fund operations and other aTeas of pulAic beneffit. We aniictpate aLKlience retovery towards near 2019 lev61$ no ¢adier than end of 2023 bul recognise Ihal the situation is Ihjid. 2022 wsrtor numbers show a significant CreaSe on 2021 figures, and 2023 fi9ures to end of Ihe ffirst quarier shcAY a positive ¢yJtlook ILwards delivewing a growth in admissions income and numbers. know that we musl communi¢ate effectivety to our audiences about our offer. Flnancld reYSew Thè rÈsutts for thè year arè shown ijn thè StatÈmènt ol Finanttial Adiviti&s. In¢oming sourceS totalled £389.508 12021., £310.2831 of which £379.625 is considere(I lo be unreStrted In naluro. Resourc£s expended totalled £418,74212021.' £3,828) suth Ihat overall the chartty accrued a defiut of £29.324 12021.. £86.545 deficit). At 31 December 2022. the charity has dO$g reserves totalling £212.56212021." £241,816 of whid) £210,156 (2021.. £239.3) a unrestrided. F reseNes. bng unrestsicted reserves less that lied up in fixed assets. 51(k)d 81 £202,591 12021= £225.8781. Reserves and Investment Poliey The trustees have agreed that at aa times they will endeavour to keep six months runnirrfJ costs of the charity lo be hÈld in reserve, mdily 8vailaNe. Thèy have also agre to èndèavtyjr Io 9enerale a sustainable, low risk retum through investmen15 vthh an acceptsble level of risk. Such retum5 lo di3wn down to the trading account at Ihe diScli0n of BMC or the board of Iwstees. to lund projects or twsiness p[(dIng5. StctUre, governanco and management Gov•rning Document HOCP is a Private Company Limit by &Jaranteè incorrated Ljnder Ihe Companies Ac* 2006 and is a regislereil Charity. The objects for w141ch HOCP was in¢wrated and its powers a Lwlained within its AJticles ol AssocAation. Recrultment of Trustse Trustees are recruited as the Artides ofAssocRt. Trustees reLYUrted, Ixrt not from the 8ppoinling blIeS. ar• r¢¢ruiled around the th'lls. knovAedge and experience required lo help steer the organisation.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Oryanisational stNcture The Articles of ASSatIOn prowde thal: The business of HOCP shaw be managed by the Tnjslees. being the Members of HOCP, vA)o may exercise ils wwws. The number of Twstees to be appointed as Diiectors of HOCP shall not be les$ than 6 and shall not be more than 12 of whom.. Up to h¥0 shdl be appointed by Nv4VG4slle Cty Counol Up lo 2 shall bè arwinlÈd by the Dean & Charter of Mewcaslle Cathedral Up lo 2 shall be 8Inted by the Socaety ofAntiquaries of Newcastle upon Tyn8 Th& most senior manager. thè Chief Exeedtivè Officer, is appcrfnld by the Trustees for the purpose of ensuring the future 5U51ain8bilty ol Newcaslle Castle and prolnoting and developing Ihe wider objects of the charity. Trustee meeting5 are held quarterty with BMC meeting at minimum 6 times per y•ar to sprAllY inform th& direction of NCaStle Casde and to support the Chi¢f Execulive Officr. Pollcy Nots Existing policies have been rewewl in Ine with our pc4iry schedule: Trustee C&Je of Practice ReseNes Safeguarding IT and Informalion Se¢urity Card Hc4der Informalic Health and Safety Finantsal Cwtrols Operab'ng ReseN# & Investsnont P(Aicy and the following new policaes have been introduced.. Rehabilitation of Offenders Staff Welfare Policy Key Management Remunerntion Key management remuneration 1$ detennined by the Trustees. Relatsd Parties There 8re no Telaled parlies. Risk Managemént HOCP takes a comprehensive and systwnalic apwoath to risk4nanagernenl. idenlfying signrficant risks under 6 main headings". strategic1SIness. HR I resources. property, operational, governan & financial. Procedures are in place to mitigate or otherwise manage the most Signifint risks identified and a Risk Register is in place. The Risk Register is regulady reviewed and urxlated and when new risks are tdÈntified pokiès and l or woeedurÈs arè dEveloped lo rni119ale Ihe risk.
THE HEART OF THE CITY PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Statement of trustees. r•$ponsilJiliti•s The Iruslees (who are also the directors of HOGP for the purposes of (x>mp8ny lawl a resprmsible lor preparing the Report of the Trustees and the finanual slatenIS in accordance wlh applicable law and United Kingdom Accounting Slandards {United 'ngdoM Generaly Accepled Ac£oLWrtirMJ PracbttÈl. intluding Finanfy81 Reporting Standard 102"The Financial Reporling Slandard appth.cabk in Ihe UK and Repubb"c of Ireland" Company law requires Ihg trustees lo prepare finanoal $t¢ments for each finanal year whith give a true and fair ew of Ihe slate of alfairs of the charitable company and of the InMing resources and apptication of resources. including the income and expenditure, of the [lI8b1e compawty ts that k)mJ. In preparing those financial 51alernents, the trustees are reqUId to select suitable accounting polaes and then appty them con5iStenty. obseNe the mèthods and prinaples in thè Charity SORP-, makè judgèments and estsmatès Ihat a a$Mak and prudenl.. Prepare the finanrA81 statement5 on the going con(wn basis unles5 (( is inappropriate to presume that the charitable companywil continue in ljusiness. The Irustees are responsible for keeping proper accounting recy)rds which th"sclose vriih reasonable a¢curaey at any time the financial position of Ihe charitatAe company and to enable them lo ensure that the financial slalements comply with thè Companiès Ad 2006. Thèy are also responsibl& for safegua(ding the assets of the charitable ¢txnpany and hen¢e for taking reasonable Steps for the prevention and d8t¢th'on of fraud and other irregulaiities. This report ha5 been prepared in arL4)rdance wilh the speaal provi5Tons of Part 15 of the Companies Acl 2( relating to small companies. Audltor The aud(ror5, Rob$on Laidler A¢untants Limited. wil be propose(l re-aN)tynlmenl al the forthcoming Annual General Meeting. The IrLte85, report was approved by tho 8oard ofTruslees. Mr GM Black Trustee KQ.l. Lo2l
THE HEART OF THE CITY PARTNERSHIP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE HEART OF THE CITY PARTNERSHIP Oplnlon We have audrted the finala1 stslemenls of The Heart of the Cty Partnership {Ihe 'chariiYI for the year ended 31 December 2022 which comprise Ihe staleThent of finanoal actiwti8s, the balance sheet and notes to Ihe financial statements, induding significant accounting poliaes. The ffinanal reporting framèwork that has bèèn applied in Iheir preparation 1$ applicawe law and Unrteil FQ"ngdom A)Ub.9 Stand8rf5. induding FanCIal Reporting Stsndard 102 The Financftal Repothng Slandard apKable in th8 UK and RepubliG of ir8land Iuniled Kingdom Generalty Ac¢epted Accounting Practice). In our opinion, the finanual ststements.. give 8 truè And fa.r wew ol the gtale of the charitable companls affairs as at 31 December 222 and of ts incoming resources and application of resources. for the year Ihen ended., have been properly prepared in aordan with Untted lfjngdcffi Generally ACpIed AuntIng Pradice,. and have been prepared in accordance with ihe requirements of the Compani8s Act 20c. Ba$1$ for oplnlon We conducted our audit in accordance vrith Interrtional Slandaids on Audrting (UK) IISA5 {UK)l and applicable law. Our respwsibililies under Ihose stsndards are fvrther described in the Auditorfs Trsponsitslities for the audit of the fin8nu81 ststemenls section of OUT rem are independent of the tharity in accordance with the ethical requirements that are relevant to our audil ol the finanaal statemenis in the UK, including the FRC'S Ethical Standard. and we have fulfillèd our othèr ethical reSponbIllI1eS in aceA)rdanrA with thesè rèquirements. We believe that the audit ¢videncs wg have obtsined is sufvient 8nd appropriate lo prowde a basis for our opinbon. Conclusions relatlng to golng concern In aLJditing thè finaneial ststements, we have ¢ondvded that the trustee5' Use of the going concem basis of accounting in the preparation ot the finan(ial slatements is apFffopriate. Based on the work we have performed. we have not Identif any matèrial uneertaintiès retating to events or condilions that. indivtdualty lleCtiVelY. may Gasl wgnificant d¢)ubt on Ihe tharity's abilty to continue as a going concem for a period of at least twefve months when the finanaal statements are auth0ri5ed for issue. Our responsibilities and tre reSpc$1)eS of the Iruslees ¥th resped to 'ng concem are described in the relevant Sectic$ of ihis report. Other InfomialFan The other infoimalion cuwnprisps Ihe information induded in the annual repcrft other than the financial stalernenls and our audrtorfs ieport Ihereon. The trustee5 are responsible for the olher infom)aiion contained within the annual report. Our opinion on the finanaal statements doe$ nol coverlhg other information and we do not gxpress any form of assurance condusion Ihereon. Our reSpOnbIlty is to lead the olheT inforwnalion and. in doing 50. consider whether the other infomation is materiaHy inconsistent with the finanaal 51alements or our knovAedge obtained in thè cours8 of thè audit, or otheNise appear5 lo be maleriaty misstated. 11 we ideniify such material inconsistencbes or appxrent material misstatements. we are required lo detemiine whether this gives rise to a material misstatement in the finanual statemenis themselves. If. based on the work we have performed. we conclude that the IS 8 material misstatem8nt of this other infom)ation. wè are rÈquirèd to rèport that fact. We have nothing lo report in this regard. Matters on whlch we are r•qulmd to r•port by •x¢Wion We have nothing to rert in respect of the folknwing matters in relation lo whi¢th Ch81ibes (Accounts and Reports} Regulab'ons 28 require us lo report lo you rf, in CAJr opinion.. the information given in the financial statements is inconsslent any material ¥)¢¢1 wilh the Irustees. report., or 5uffioenl accounting records have wt been kept.. or the fInartal statèments are not in agrtÈmÈnt th thè aTrxJunb"ng records" or we have not received all the #)fomiation and expianab"on5 we requiie fw our audrt.
THE HEART OF THE CITY PARTNERSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HEART OF THE CITY PARTNERSHIP R¢$pon8ibilities of trustees As explained rnore fvlly in the statement ol trustee5' responsibiltses. the truslees, who are also Ihe directors of the charity for the purpose ol company law. are responsible for the pParatiOn of thè financial statements and for being salislied that they give a true and fair wew. and for such ntemal control as the trustees determinè 1$ necessary to enable the preparation of financial statements that are free material misslatemenl. whelhet due to fraud or error. In prepaving the finanaal statements. the Injslees a sponSible for assessing the charity's ability to contsnu& as a going concem. disdosing, as appli¢able. matters Tded io going concem and using the going concèm basis of aets)unting unlèss thè Injstees either tend to Ip4uidaie the charitable company or to ce8SÈ operations. or have Th) realists"c ahemabve lyJt to do so. Audltorfs rnsponslbilitiès for Ihg audit of th• financial statémènts We have been appointed as auditor under sed'on 144 of the Charibes Act 2011 arKI report in 8w(tsnce wtih the Act and relevanl regufations made or hawng effect thtteunder. Our objectives are to obtaln reasonable assur8n¢e abcMJt whether the finanaal slatemenls as a whole a free frorn material misstatement. whether due to fraud or error, and to issue an auditorfs report Ihat indudes our opinion. Reasonable assurance is a high level of assurance bul is Th)t a guaranlee that an audil conducted in accordan with ISAS (UK) will alayS deteci a malerial misstatelwit vthen li exists. Misstatements ¢an arise from fraud or error and are cOndered material rf, indiwdualty or in the aggregate. they could reasonably b8 expected lo influen the economic decisions of users taken on the basis of these fInanU staternents. Irregularities, induding fraud, ale instances of non-comrAkance vthh laws and regulath)ns. We design procedures in line with our responsiblities, outlined above. to delect material misstatemènts in resi1 of irregularities, induding fraud. The extent to whtd) our procèdures are pab of detecting irréguLqritiÈs. induding Iraud, is dètailed below. The risk of mateiial misslaterllenl due lo ertor OT fraud is deerned lo be low 1n the enlity as Ihe Trustee5 operate strong internal controls lo mitigate any such risk. Substantive lesling is performed on all material balances and therefore any irregularitres shouhj be identified or conshlered as insignifirant. The audit was therefo considered capable of identifying iegUlatitieS onty to the extent of the subslanlive testhng performed and frotn discussions with management. A further description ol our responsibHibes is ardilable on the Finanual Reporting Counal's website al.. https-.11 www.frc.org.uklaudilorsresponsibililies. This desuiption fomis part ol our audilorfs report. Use of our report This report is made solely to the chaiitls trustees, as a twjdy. in accordance with part 4 of Ihe Charities (Accounts and Reports) Reoulalions 20Q8. Our audit woth has been undertakBn so that w8 rnighl stalg lo Ihe chartws truslees those matters we are required lo slate ID them in an audrtorf5 report and for no Other purwse. To Ihe fullest extent permitted by law. we do not acpt or assume responsibilty lo anyone other than the charity and the d)arity's trustees 85 a body, our audit wo. for this Teport. or IC the opNiions we have formed. fn Mlchael T Mornn BA FCA ISnlor Ststutory Audltoil for and on behalf of Robson LaldlerAe¢ountsnts Llmlted 21oJ ststutory Auditor Femwood House Fernwood Road Jesmond Newcastle Upon Tyne Tyme and Wear Enan NE2 1TJ Robson LaIdr A¢countant5 Limited 1$ eligible for appointment as audtior of the charity by virtue ol ils eligibility fc appoinlmenl as auditor of a company under section 1212 of the Companies Act 2(m. 10-
THE HEART OF THE CITY PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDuRE ACCOU FOR THE YEAR ENDED 31 DECEAIBER 2022 Curr•nt financial year Unrestricted ReBtrlcted fund5 funds 2022 2022 Total Totsl 2022 2021 Mot¢8 ndo Donations and legaues ritablè actiwtiè Ticket sales Investments Otherlrading aclimlies 10,770 9,883 20,653 153,771 240.129 291 128.435 240,129 291 128,435 115.016 147 41.349 Totsl Income 379.625 9.883 389,508 310,283 Ex en Raising funds 39.818 9.883 49,701 14.817 Charitable activities 369,041 369,041 382.011 Total resources expended 408,859 9.863 418,742 396.828 Net expendlture for the y•arl Nel movement in fund8 {29,234) (29,234) (86,5451 Fund balances at 1 January 2022 239,39) 2.426 241,816 328.381 Fund bal¥n¢ at 31 Dtt4mber 2022 210.156 2.426 212,582 241.816 The statement of nala1 a¢Xivitie$ indude$ al gain$ and losse$ re¢ognise(l in year. All incorne and expenditure derive from cC.u1ng adiwtses. The slalemenl of finallal adiwh.es a150 LxjfflpI wlh the requients for an income and eypendiluie account under the CompaniesAd 2C#J6. 11
THE HEART OF THE CITY PARTNERSHIP STATEMENT OF FINANCIAL ACTivrriES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Prfor flnan¢lal yo•r Unv•strict•d Restrict•d funds fvnds 2021 2021 Totsl 2021 Donation5 and legacies Charitable actiwlie5 ricket sales Investments Other trading activities 51.120 102.651 153,771 115.016 147 41.349 115.016 147 41.349 Totsl income 207.632 102,651 310,283 Ex endIre on.. Raising funds 12.049 2.768 14,817 Charitable actiwties 161.115 220,8 382.011 Total resourc•s •xp•nd•d 173.164 223.684 396,828 Gross IransfèTS beiwe8n funds Net expendlture for Ihg yoarl Net movement in funds 1.019 11.019) 35,487 (122.0321 186,545 Fund balances 811 January 2021 203.903 124,458 328.361 Fund balanc05 at 31 D•c•mb•r 2021 239.390 2.426 241,816 12-
THE HEART OF THE CITY PARTNERSHIP
BALANCE SHEET
AS AT 31 DECEMBER 2022
| 2022 | 2021 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes | |||||||||||||||
| Fixed assets |
|||||||||||||||
| Tangible assets |
11 | 7,565 | 13,512 | ||||||||||||
| Current assets |
|||||||||||||||
Stocks |
12 | 8,952 | 7,512 | ||||||||||||
| Debtors | 13 | 16,218 | 11,420 | ||||||||||||
| Cash at bank and |
in | hand | 202,784 | 240,886 | |||||||||||
| 227,954 | 259,818 | ||||||||||||||
| Creditors: amounts |
falling |
due | within |
||||||||||||
| one year |
14 | (22,937) | (31 | , |
514) |
||||||||||
| Net current assets |
205,017 | 228,304 | |||||||||||||
| Total assets less |
current liabilities |
212,582 | 241,816 | ||||||||||||
| Income funds |
|||||||||||||||
| Restricted funds |
15 | 2,426 | 2,426 | ||||||||||||
| Unrestricted funds |
- |
general | 210,156 | 239,390 | |||||||||||
| 212,582 | 241,816 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 18 July 2023
L.zk
Mr GM Black Trustee
Company registration number 06373460
-13-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlny pollcl harity information Thè H88rt of thè City Partnership is a private f¥)mp8ny h"mited ty guarantee in(x)rpored in England and Wales. The registered off 15 Fernw House. Femwoc¥J Road. Je5mond. Newcastle upon Tyne, NE2 1TJ, United Kingdom. 1.1 Accountlng conventlon The financial statemenls have been prepared in acc(dan with the Companies Act 200S. FRS 102 "The Finanaal Reporting Standard applicable in the UK and Rewblic ol Ireland. I'FRS 1027 and Ihe Charities soRP"AonLin9 Reporting by Charities.. Stslernerrt of Reoommended Pra¢tti applirable lo tharilies preparing their accounts in accordaTKe th the Finaniaal Rewb"ng StsrbdaTd applicable in the UK and Republic of ITeland IFRS 1021" {effecUve 1 January 20191. The charity FS a Public Benefrt Enlty as defined by FRS 102. The charity has iaken advantage of the promsions in the SORP for dritieS not lo prepare a Statemenl of ash Flows. The finanrAal 51alemenls are prepared in sterling. which is the fijnctional cajrrency of the charty. Mon8tary amounts in these financial ststements are rounded to the nearest £. Heart of the Cty Pathership meets the deffiniti¢M uf a public benefrt enb.ly entry under FRS 102. Assets and liabltIeS are initity recognised at histori or transaction vuE unle55 cAhetWi5e Staled in the relevant accountsng policy notels). 1.2 Going conc•rn At the lime of approwng the financial slalemenis, the trustees have a reasonable expeciation that the charity has adequate resc4jes to continue in ¢)perational existen¢e for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of J¢¢ounting in prepariNJ the financial slalements. 1.3 Charftsblo fundjs Unrestricled funds are 8vaiLqble for use 81 thè discxetion of thè Irustees in furtherancè of their charitable objectives. Rèstricted funds are subject lo specific v)nditi3 by doncKs as lo how they may be uge(l. The purposes and use5 of the restricted funds are set rMJt in ihe Th)tes lo the finanaal statements. 1A Income Incorlle is recognised when the tharity is legally entilled to it after any perfomance condil'ons have been mel, the amounts can be measured reliabty. and it is probable Ihal irKome will be reived. Cash donations are recognised on receipt. Olher donations are recognised once the charity has been nolffied of the donati. unless ptrrforman ¢onditions requiie d8leThal of lh¢ amouftl. In¢ome tsx re¢overable in ielalion lo donations received under Gift AHI or deeds of covenanl 15 wnised al the limg of the donalion. Grants, Whe entitlement 15 r1 conditional on the deb.very of a speryfic pwf¢)miance by the charity, are recognised when the charity becomes unconditionally ents'tled lo the grant. Inroryring resouiGe5 fr grants. where related lo peTlorman¢x and delrverables, are accounted for as the charity eains the right to cYjnderaIloll by its perfomiance. 14-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAI8ER 2022 Accountlng poli¢le• Icontlnuedl 1.6 Expèndlturn Al expenditure is accounted for on an accThals basis and has been dassified under heading5 that aggregate all cost$ rdated lo the category. Where Costs cannot be diredy altn'buted to paCUlar headings they hav8 been allocated 1¢ adivilies cn a basi$ consistent YAth use of the resources. Expenditurè indudes any VAT whith cannot be lulty recovered. and is re[ed as part ofthe expenditure to which il relates.. - Costs of gener81ing funds comprise Ihe costs 8SSW8ted with attractin9 voluntary income. - Charitabl• 8xpenditur• compris8s those co ined by the charity in the delivery of ts actllieS and services for its benèffii#ariès. It indudès both u)sts that In be alkal8 directly to su¢h actiwtios and those costs of an indTeGt nature necessary to suwrt thern. 1.6 Tangibk fixed assets Tangible fixed assets are inrtialty measured at cost and sub5equenlly measured at cost or walualion, nel of depreciation and any impaimient bsses. Depreuation 1$ recognised so a$ to lIe off the cost or valuation of assets less their residual values overtheir useful Inies on the lolh)%Mng bases.. Computers 33% on cost Th8 gain or loss arising (m the disposal of an asset i8 delemiined as the difference betsen the sale proceeils and Iho carrying value of the asset, arNI is reo)gnised in Ihe statement of financial aclivilies. 1.7 Impalmient offlxtd #ssèts At ead) reporting end date. the chariiy rewews the carrying amounts of ils tarigible assets to determine whether there is any indication that those assets have suffered an impaimienl loss. If any such indication exists, the CoVerae amount of the asset 1$ eslim8ted in order lo delemiinÈ thè exlenl of the impairment loss lif any). 1.8 stocks Stocks are valued at the lower of c05t and net realisabje value. after making due all(rIran for obsolplo and slow moving items. 1.9 Ca¥h and cash equivalents Cash and cash equivalents indude c8sh in hand. dewjsits held at eall wth banks. other short-temi liquid investments with original maturib.es of three rncffiths or less. and bank overdrafts. Bank overdrafts a shown within borrowings in cAJrrent liabilities. 1.10 T•xatlon As a Ghariiy, the company is exempl from tsx on inc(MMe and gains to the exlenl that these are 8pplied to charitable obje¢t5. No tax charges have arisen the thaTrty. 1.11 Penslon costs and other poslaretlrement beneffts The (aritable company operates a deffined contribution pension scheme. Contribution5 payable to the chariiaNe company's pension scheme are charged to Ihe Statemenl of Financial Activities in Ihe period to whith they relate, 1.12 Credltors and provisiQM creth.lots and ptovisions are recognised where the tharrty ha5 a ptesenl obligation resulting from a past event that will probably Te5uII in the transfer of fvnds lo a third party and the amount due to seitle the obligation can be rneasureil or eslimaled reliabty- Creditors ar¥J provisions ale nm21 recognised at their sèttlèment amtsunl after allowing for any trade discthrts due. 15-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Donatl<>ns and 1ggJ¢i9s Unreslricted Restricted fvnds gweral 2022 Totsl Unrestricted funds general 2021 Re$lrKted funds Total 2022 2022 2021 2021 Donations and grfts Grants 329 1D.441 329 20.324 218 50,9]2 218 153,553 102.651 10,770 9.883 20.653 51,120 102.651 153,771 Grants recelvable for core actlvltles Govemment restart HMRC Charities Job retention seheme Tiered restrictions Winter business Cdture recovery fund Omicion Hospitality and Leisure grant NLHF stÈps to sustainability Zedra Trust Henry Riley LLP Other 20.OtY) 2,477 4.129 5,485 18.811 20,000 2.477 4,1 5,485 18.811 102,651 102.651 6,667 6.667 9.883 875 1.399 875 1.399 10,441 20.324 50.902 102.651 153,553 Inv•stm•nts Unrestrlcted Unrostrl¢ted nds funds general gènèral 2022 2021 Interest receivable 291 147 16-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 other tradlng a¢tlvltl•s Unr•slrfetod Unmtrletsd funds funds g•n•ral g•n•ral 2022 2021 Other inwne Event income Venue InMe Retail 20.861 39,445 34,904 33.225 4,813 5,030 17,120 14,386 128.435 41,349 Ralslng funds Unrestrlctsd R•$trkt•d funds funds general 2022 Totsl Vnreslrict¢d Restrided funds funds gener 2021 Total 2022 2022 2021 2021 R8ising funds Operaling oharity shops Other trading actiirities 15.224 24.594 15.224 34.477 8.250 3.799 167 2,601 8,417 6,400 9.883 39.818 9.883 49.701 12.049 2,768 14.817 17-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable actlvltle$ Charftable Charitablè actlvltles activities 2022 2021 Staff costs Depreciation and impairment Rates and water Insurance Light and heal Telephone Postage and stationery Marketing and publicity Sundries Travelling Training Repairs Card machine charges 268,256 7,750 1,379 257,607 8.807 571 6,263 5.199 1,749 1.205 9,651 29.415 3,008 289 1,575 23,842 7,160 10.614 304 872 40.595 4.151 361.971 373.5 Share of support Costs Isee note 7) Share of govemance costs (see note n 3.470 3.600 3.240 369,C141 382,011 Analysls by fund Unr¢slricted funds- general Restricted funds 369.041 161,115 220.896 Support costs Support Gov•manc• Costs 05ts 2022 Support Govemance Qsts ¢osts 2021 Payroll fees Professional fees 1,570 1,570 1.112 3,754 1,112 3.754 Audit lee5 3.6 3,240 3.240 3.470 3.61x1 7.070 4.866 3,240 8.106 Analysed between Charitable activittes 3,470 7.070 4.866 3,240 8,1C 18-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECE&VBER 2022 TntIeS. remuneration and beneffts None of the trustees ILY any pernons o)nnected th them) recei¥Ed any remuneration OT benefits from the charity during the year. There werè no trusleè's expenses paKI for the year endèd 31 Dember 2D22 nor for the year ended 31 December 2021. Enwl¢)y¢•$ The average monthty numbw of employees during thè year was: 2022 Numbor 2021 Number Management and administration 20 17 Employm•nt Costs 2022 2021 Wages and salaries Social security costs Other pension costs 247,556 12.133 8.567 237,502 12,106 7.999 268.256 257.607 Key rnanagemenl remuneration totaled £46,968 (2021.. £45.61XI) There We no employees whose annual remuneratim w•$ mNe than £60,C(rfJ. 10 Taxation The charity is exempt from tsx ()n inccrfne and gaTns falling thIn secknon 505 oflhe Taxes Act 1988 or seclion 252 of the Taxationof Chargeable Gains Act 1992 to the extent ihat these are applied to its charitable objecis. 19-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 11 Tanglbl• fix•d ass•ts Computov8 At 1 January 2022 Additions 33.313 1.803 Al 31 Dètwber 2022 35.116 Dopro¢iation and impalrnient Al 1 January 2022 Depreciation tharged in the year 19,601 7.750 Al 31 Dember 2022 27,551 Carying amount At 31 0È¢ember 2022 7,565 Al 31 December 2021 13,512 12 Stoekg 2022 2021 Finished goods and gck)ds for res8le 8.952 7.512 13 Debtors 2022 2021 Amounts lalllng du¥ wlthln one year. Trade debtors other debtor5 PrÉpayment5 and ac¢7ued income 2,188 1,184 12,848 3.978 7.444 16,218 11,420 14 CreditorB: amounts falling due wlthln one year 2022 2021 Other laxation and soGial CUTty Trade creditors Other creditors Accruals and deferred income 3,914 474 3.139 15,410 4,681 15,124 11,709 22,937 31,514 -20-
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 15 RtriCted fund• The income funds of Ihe tharrty indude restricled funds c(xnprisTng Ihe followiThJ un?xpended balances of donations and 9ranls hdd on trust foi speufic pUrySe$.. Movement In fvnd8 In¢omkng R•sour¢8s Balance at rg¥ourc •xpondgd 31 Dvc•rnbgr 2022 l JInU 2022 CCTV Defibrilatoi Explorers Costumes A M8di8v81 Tavem E¥perience 218 218 1,644 430 134 430 134 9,883 {9.8831 2.42S 9,883 {9.8831 2,426 CCTV Thè d)arity received a gr8nl of £1.000 in 2018 fr(Mn Webster Tnjst and 8 grant Df £4.000 in 2020 from NÈw¢8sde City Counul for thè installation of 8 CCTV system. Defibrlllator The charity reTrived a grant of £1:644 in 2019 from Monument Ward Committee for the installation of a defibrillator in the Gasde and thedral area. Explorern Road The chaiity is working lo become part of a muhp5top tounng route through the GUvraI and histori¢81 he8rt of England by Visit 8ritain and received a grant of £595 from NGI. Costum•s for Intèrprètations The Charity re¢eive(l a granl of £1,243 from CO-OP to buy coslumes for lfve interp18110ns and relavanl events. Tavwn Ngts The tharily ieceived a grarrt frorn The Scrfi31 Enlerpiise Acatlemy as part of theiT Slep5 to Sustainabil¢y furKling for the creation of a medieval tavem ntght. to hdp gerrate income through paid foi events, and COTporate venue hire 16 An4lysl8 of net assets between funds unrestritd Restrl¢t¢d fvnds funds 2022 2022 Totsl Unmtrlctsd Restrleted funds fund6 2021 2021 Total 2022 2021 Fund balances at 31 08cember 2022 arè reprèsÈntÈd by.. Tangible assets Current assetsl(h'abilities) 7,565 202,591 13,512 225,878 13.512 228,304 2.426 205.017 2,426 210.156 2.426 212.582 239.390 2,426 241.816 21
THE HEART OF THE CITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 17 Relatèd paity trangactlons There were no disdosable related paty tran98ctions during the year12021- none).