REGISTERED COMPANY NUMBER.. cEcK￿259 {EThJlarKI and Walrf) REGISTERED CHARItY NUMBEI. 1146562 REPORT OF fHE TRVSIEES AND FINANCIAL $TAIEhlEMTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE LOUGHBOROIJGH BELLFOUNDRY IRU57 THE LOVGHBOROVGH BELLFOUNDRY TRUST CONTENTS OF THE FINANCIAL STATEMENrs For The Year Ended 31 Morch 2024 Ptsge R•p*)rl olthe Trustees Reportol Ihe Independenl Audbri stalemenl of Flnanclal Adlvmes B•knnce Sheet Cash Flow Stal•menl N¥)t•s to lh• eoih Aow Shhment Notes to lh• F[nan¢￿1 Stalements 12 10 20 D•tuled Slalem*nt ol Fknqnrkl AcNvllkns 21 10 22 THE LOUGHbOROVGH IELLFOUNDRY TRUST REPORT OF THE TRUSTEES ForThe Year Ended 31 Maich 2024 The truslee5 who are c450 clreclors of the charity lor the pvrp05es ol the Componies Act 2006. present their report with the finoncial slolemernls of Ihe charity lor lh8 year ended 31 March 2024. The trustees have adopted the prov￿lOn5 of AccDuntiro ond Reporting by ChoritE5-. Slolemenl of Recommended Proclice opplrd)le to chorities prgparing their occovnt5 in occordance wilh the F￿￿CId Reporh'ng Standard aFplicoble in the UK and Repvbwc of trelond IFRS 1021 leffect￿9 I J(Jnuory 20191. OBJEcnvES AND ACTIVIIIES ObJ•cllv•s UKI alms The objectlves ol the Trust ore.. ol Securing the convetsK)n and freehold of the historic Taylor Bev Foundry loi Ihe future. including its tnachinery. equipment. pattems and archtveg and encompassing any other relotèd nstitution or motaiial connèctèd to th8 oils and crofts belts. bl Educating publlc on the history and sknlls ol bell makirvJ. bel honglng. c(Irllon plwng and bell ringing. cl Providing training in bell makiig 0550c￿ted skills. dl Pro￿dIng training in bell ringng techniques [￿d sl?Ils. el Any othar charitabl& actmty thot may contribute to the forgoing obje¢trie5. Pvbllc b•n•m 11 is the fnjsl's ali) lo eslabbsh and moinlain a museum lor Ihe benefit ol the public. The trustee5 conlim Ihcrt they have corrpled wlh Ihe requiremen15 01 section 17 of the Chari￿es Act 2011 to have due regard to the publlc benefit gvidonce pubfished by the Charity Commission for Englond and Wdes. Achknvem•nts p•rfomianc• aNI flnunclal revl•w The Trust 15 C￿￿enIty engaged in Ihe bvildng restoration phase of the major project 'Soving the Last Bellloundry in the Uf.. We held o re-openina ceremony ond ole octivety bvlding the T¢yJr5 and Eundroising. Fun(kni5ing h05 continued but the moin luhjre sources ol income wryll be Ihrough Ihe vi5tior and educalional actiMtie5 planned post re￿pening. STRATEGIC REPORI Rw¢ryes polcy The Trusl is Ivnded by the grants and donotions received from the various sources as delailed in the notes lo Ihe financiol stotement5. These gront5 and dongtio￿ prowde the fwds lor the chariloble octivilies coined ovl by the Trusl. The trust dso moke5 the belffourKJry avoloble lor the trading company, John To￿Or Bel Fotjndry ILoughboi(xJghl knmited. Io cotry out iys Iroding octtwit165. The iental I￿orne received by the Trv5t 15 ieg(wded a5 utyestiicted funds and is mcKJe avoli able lor ur*estricted actiwties. Prfnclpal rtsks and uncertalntles The principle current uncertanty is Ihe actucl completion dole of the building works. Thi5 is Caref￿￿￿ M￿aged by o project team of high￿ experienced built heriloge prof9s5K)n5 Mtho keep lh￿ undeireviewwth oll partles. Fvlure plar The Trust is Current￿ served by a team ol trustees with backgrounds and skj.lts ￿levant to the building restorotion and development phase of the archlves and other laclilies. Iher locus is lo physicaly shape the Bellloundy c Ihe natwol centre for educatK)n and r858arch in the bell related wolkl. Post restoratDn the Trustees focus wll shitt loword5 delivering Ihose objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT Govttnlng document The chcyity ￿ controlbd by its governing documenl. a deed ol fvusl. C*KI constitutes a charitoble incorporated organi5alion iaoi05 d8fined by the Compan￿5 Act 2006. RKwNm•nt and app0knIme￿ ol newtntsl••i ffte Trust hos already ieciuited one new Tntslee from the wodd ol ￿adeMi0 and 15 QCtNety seeking further S￿le￿ support lor delivering its lulure objeclNes. Poge I THE LOUGHBOROUGH BELLFOUNDRY TRUST REPORT OF ThE TRUSTEES For Th• Y•ai End•d 31 Mar¢h 2024 STRUCTURE. GOVERNANCE AND IMNAGEMENI Relaled path Th8 TrvsY5 tenant, John Taylor & Co Bellfoune6rs. hos monoged to delivor considerable growlh during the year de5Plt¢ m05sive d￿ruPtiOn lo its op&rotion$ by the bull ding wo￿. The growlh wos o nece550ry response to the econcfflic shocks ol Covicl. and Ihe Russion wor provoked Ènergy ond m(rtgriols c05t inflalion and gnabled the compory to brec* even. The prospects lor 2LY25 remoin positive atrhough the growiro financid proilems ol th8 C ol E ote of increa￿ng concem as they are the principal cfienl. EbvJag•m•ntT*Alh supp￿ell. Custom￿, nelghbours and olhers The Trust and John Faylor & Co continve to SLPPOrt aclivilies within the local communily ond olso notion01￿, for exc*nple through delivering free youlh and schools programmes. supporting an exlensNe volunteer programmé lor bcal peoe. and spon￿ring the notionol 12-bell ringing compelilion. Agreement has been reached with the Central Council ol Church Bell Ring6n to hou58 Its Library and Archive wlhin Ihe Trvsl's new aichive facifity. Thi5 Lbrary is ol intemational slgrific￿ce ond its locolion in Loughborough wll 5VPPOrt the Twsfs objectives. The Twst is also in negoliotion lo support ond admiry5ter Ihe Central Councl'5 Iriitiotive lo monage a nolionwide I￿et ol moblie mini-rings wlmch wll be part ol a nationwide educationd progrc¥nmè on th8 subject of bells and bellringing. REFERENCE AND ADMINISTRATIVE DETAILS e91sler￿ Compony number CE006259 IEngkThJ and Wdesl Regl¥lered Chaily rnmib 1166562 Reqhlered offiee The 8ell Foundry Freehold Street LoughboroLyh Leicestershre LEII IAR AWRWilby D E Potter R J Cooles H L Taylor AJSkn(* M William5 T Bradley Avdllo TC Group 31 High View Close Homlton Office Park Lelcester Lelcestershire LE4 9LJ STATEMENT OF TRVSTeES' RESPONSIBILITIES Ihg twstee5 (who are (*0 the directors ol The LoughboroLty Belloundry Trud lor the pvrposes of compony l]wl are respon5ibb for piewrinu the Report ol the Fru51ee5 and the financS0l statements in occordance with opplicable kw4 (￿d United ￿ngdoM Accountlng SI(￿dards Iunited Klng4(*n Genero1￿ Accepted Accovnh'ng Praclicel. Poge 2 THE IOUGHBOROVGH BEIIFOUNDRY TRU$T REPORT OF THE TrUSTEES ForThe Year Ended 31 Murch 2024 $TAIEMENT OF TrVSTEES' IEESPONSIIILITIES . conHnu•d Compcry law requires the trustees to prepare finonciol statements loi each ffnancial year. Under thot kJw, the twstees have elecled to prepare the financial slalemenls in accordance vAlh United ￿ngdoM Generolty Accepted Accounting Proclice Iuniled Kingdom Accounting Standards opplicoble14JwI. Under company law the trustees mu51 nol approve the financiol slalemen15 vnless they are satisfied t￿1 Ihey give 0 Irue ond foir view of the state of allairs of the chorilobk company ond ol the incoming resources and OP￿1(0*K)n of resources, including the income and ewendilure, of th8 Ch￿fabk9 c￿1panY lor that period. In preparirvJ those finonciol slotemènts, th8 trustees cre required lo select suilaue occounling policie5 ond then oppty Ihem c0n5151en1￿- obserye the methocts ond pfine1￿e$ in the Chorities SORP-. make judgements and e5tirnate5 that are reo50nobl8 prudgnt-. slolo whether applicable accounting Stand￿d$ hove been followed. subject to any Materfol deportures disclosed and explained in the ffnancial 51alemenls; pr6poie the finantiol Statements on th8 going concem bas￿ Un￿55 it s inoppropriote to presume Ihal the charitable company will Contin￿ in bv5ine5S. The trustees are responsible for keeping proper occounting recorth wh￿h disck)ie wllh reosonoble ￿eur0¢Y OF ony lime tt)e financiol posilion ol the charitable company ond to enable thern to ensure thol ffnonciol slatements compty with the Companies Act 2006. They are aL%o respon%ble for sofeguording the ￿sell of the choritable company and ￿nce lor laknng reasonable steps lor tha prevention and detection ol fvoud ond other Irregul￿tE$. In 50 lor c￿ the tW51ee5 ore (ware: there s no le￿vant c¥Jdtl inlormalion olwhich the chariloblg compony'5 ovditors un(worg,' ond the trustees rove taken dl steps thai they OLJght to have token to make themselve$ (More of ony releV￿t auclt information and lo eslabfish thjl the aucllors ara aware ol Ihol InlormaNon. AVDifoRS Ihe ou(fjlors, TC Group, will be proposed lor re-aF)poinlmenl al the forthco￿￿ng Anrojal Genercd Meeting. Report ol the trustees. incorporating a 51rotegic report. omxoved by ordei of tho boord ol Iw5tees, a5 Ihe compony d"iectors. on .......l.&..o.1 :..20¥.......... and signed on the board's beh￿t by.. A W R Wilby- Trustee Page 3 R￿oRT OF THE INDEPENDENI AUDITORS TO THE TRVSTEES OF THE LOUGHBOROUGH BELLFOUNDRY TRUST Oplnlon We have ou(fited the financial 51alements of Th& Loughbcwugh Belwoundry Trvsl Ithe 'Ch(￿labb company'l lor the yeor ended 31 March 2024 which comprise the Stotomant of Financid Aclivities, the Bdance Sheet, the Cash Flow Statement and notes to the ffnanciol slalements. including a 5vmmory of Significant accovnting policies. The fin(￿¢101 repOrt￿g tromework that h05 been applied in their preF)oration Is opKAicabfe law ond United knngdom Accovnling Slandords (United Kingdom General￿ Accepted Accounting Piocticel. In our opinion the finonciol st(rtemenls- give o Iwe ond foiT view of Ihe slate ol fhe charitable compaws affdrs os ot 31 IAorch 2024 und ol ils Incomi￿ resources ond opplicotion of resources, inclvding its income and expenditvre. foi thg yeor then ended.. have been propety Fxepoied in occordance with United ￿ngdorn Ger￿r￿￿ Accepted Accovnffro Pro¢tice- and have been prepared in accordance wth thg rgqvirernents of the Comparmes Act 2006. Q515 for oplnlon We conducted our oucfil in accordance vllh htemolionol 5tond(wd5 on Auditing IUKI I￿A$ IUKII and applicable IIM. (Xjr responsiblilies under those 5tondord5 are ￿rther descnbed in the Audtor5' respOn￿ball[tiS for the oudit of the linancid stratements seclion ol our report. Wg are independent ol the charl10b￿ conpony in occord(7nce th the ethical requiremènts that are r6lèv(nt to tsur audil of the finonciol stalemenls in the UK. including Ihe FRC'S Ethical Standard. l￿d we havtt fuifiled ovi other ethrol respon5ilililEs in accordance wilh thèsa requiremen15. We beleve Ihal the oudit evidence we hove IX)tcined i8 sufficient and appropriate lo provide a basis for ovropinion. Con¢lu¥lon• relallng b golry concem Irs ouditing the financial slutremenls, we hove concluded lthl the trusleeg use of the going concem bus￿ ol accothling In Iho preporotion ol the financial slolements Is uppioyiate. ased on wolk we hove perfomed. wg hove not identffied any malerid uncertainlies relating lo events 01 conditions thot. Individual￿ or co1￿Ct￿ve[y. m(ty cost 51gnffici￿f doubt on the choritoble company's obility to contlnve as a going concem lor a perfod ol ot least IwelY¢ rnonth5 trom wh8n the financial slalements are authoris8d for issue. Our rpspon&bThi tE5 (md the re5pon51illies ol the trustees wlh respect to going con¢orn report by excepllon We hcwe nolhing lo report in respect of the folbwing maller5 where the Charities IAc¢oLnts ond Reports Regulolions 21￿ Tequires us lo report lo you il, in our opinion= the information gN8n in the Report of thè Trustees is sncorL8El&nl in ony mo*eriol respect with the financiol olements; or the charita￿e company has not kepl adequate accounting records,. or the financial slalemenls are not in agreement with the accounting record5 ond relums: or we hove not received all the inlormolion and explonolions we require lor our oudil. Responslbllwes d Irustees As ewlained more fU￿Y in the Statement of Trustees, Responsibilities. the trustees (W￿ ore also directors of Ihe chaiitoble company for the purposes ol compony lowl are restK>nyble lor the yeporolion of the finonck)I stolemenls ond for being sofisfied Ihal Ihey give o Inje ond foir iiew. and for such inl&mal control as the InJslees delemine 15 necessary lo enable the preparalion of liThJncial slalemen15 that are free from material rri55talemenl. whether due lo fraud or ewor. In preporing the ffnonclol statements, the InJstees are responsible for assesslng the charftable companls oblhy to continue as a going concem. disclosing, os opplicoble, mallers reloled to goiro concem ond vsing tha going concern bosis of occovntlng unless the Iruslees either intend to IiLwidate the chafilable ¢omry)ny or to cease operolions, or have no redi51ic alternolive bul lo do so. Our re$ponilbllllles fer th• ovdlt al the Ilnonclal statements We hove been appoinled os ouditors under Section 144 01 the cha￿lIeS Act 2011 and rewt In accordance wlth the Act ond relevonl regulations made or hoving effect Ihereunder. Our objective5 are lo obloin reasonab￿ assurance obout whether the financial stalem&nls as o Who￿ are free from moterial rri551alement. whether due lo fraud or eThor. and *0 issue a Report ol the Independent Auditors that includes our opin￿n. Reosonoble ossuronce is o high level of ossuronce, but is not o guoronlee Ihol on oudit conducted in occordonce with ISAS IUKI will dwoys detect o mol&riol missfalement when it exi515. Mi$51alemenls con orise from Iroud or effor and are considered molerial W, Individuolly or in the aggregate, they could reosonobw b& expected lo influence the econorric dec￿lOn$ ol users taken on the bos￿ of these financial 51olemenls. The extent lo wswch our pyocedures ore copoble of detecting irregvlorities, including Iroudls deldled bel¢)w: We obloined on underslonding ol the legol ond regublory Irom&works Ihal ore applicable lo the chority on determined Ihal the most ygrificonl fromeworks which ore direct￿ relevanl so ¥)ecific assertion5 in the ffnonciol slotements are those that relate to the reFY)rting framework (UK GAAP ond the Companies Act 2LYJ61 and the relevant tax compliance regulat￿n5 in the UK. We vnderslood h¢)w the chority ￿ comptying with those fromgworks by moking enquiries ol monogemenl ond those responsible for legol ond comFJKJnce procedur85. We corroborotod our enquiries thrO￿h remew of board mitrmjles and discijssions wilh thos8 ch(x￿d wth govemance. We 0ss8SS the svsceplibilify ol th8 C￿nI￿5 financial slatemenls to rr￿le￿oI M￿l0*ement, including how fraud might occur. by discussion with monagemenl from various parts of the bu&ness lo understand where they considered there was a su5cep*ibility to fraud. We considered the procedure5 and controls that the charity esloblished lo prevent ond detect fraud, and ￿)W these are monitored by mar￿gement, ond 0150 ony enhanced risk laclors such as perfornonce targets. Based on our understanding. we designed our avdl sy￿edv[eS lo identify ony nonYI, or lor the opinw)ns we have formed. TC Group igible lo act as an auditor in tem5 of Sect*?n 1212 of the Companies Act 2LX)6 31 High View Closè Homilton Ollice Park Lelcesler Leiceslershire LE4 9LJ Page 6 THE LOUGHIOROVGH BEILFOUNDRY TRUST STATEMENI OF FINANCIAL AcnvmES Fow Th• Year Ended 31 March 2024 2024 Total lund5 2023 Total funds a5 re5toted Unresfricted fund Restricted funds Note$ INCOME AND ENDOWMEN15 FROM Donotions ond legocies 52A99 2,753,701 2.806,300 915.930 Inveshnent income 79200 79200 79,%)0 Total 131.799 2,753,701 2.885J)O 995.130 EXPENDITURE ON Roiilng funds 40.876 40,876 50,474 ClwJiAable actlvlmes Charilcl)le acliwitie5 358,703 358.703 205.328 T4)tol 399.579 255 802 NET INCOME 131,799 1354.122 2,485,921 739.328 RECONCIUAlloN OF FVNDS Totol b)nds brou9hlfw4tyd As pieviously reported Prior Ye￿ o(*uslment 95.244 615.392 335.337 710,636 306,645 95.244 9SI.729 1,045,973 306,645 TOTAI FUNDS CARRIED FOkWARD 227.043 3,304,851 3531.894 1.045,973 The note5 lotm part ol ttr*se finoncial stot&ments Page 7 THE LOUGHBOROVGH BEUlOUP￿Ry TrUST bAiANCE SHEET 31 March 2024 2024 2023 CLS restoted Note5 FIXED ASSETS Tangibje assets Heritage assets 12 13 4,663 3.228,275 1368 335.337 3.232,938 337.705 CURRENI AS$Ets Debtors Cash ol bor 14 259.228 57.691 334.090 719,945 316,919 ,054.035 CREDItORS Amounts lo￿ng dve w1￿"n ona year 117.9631 1345.7671 NET CURRENT ASSEfS 298,956 708.268 TOTAL ASSETS LESS CURRENT UABIUTIES 3,531,894 1,045.973 NET ASSETS 3,531,894 1.045.973 FVNDS Unresti￿le￿ funds Restricted fvnds.. Fovndry restorallon lurKI Foundry he￿lage a55et 227.043 95,244 76.576 3.￿8,275 615.392 3 304.851 TOTAL FUNDS 3,531,894 l ￿45,973 The notes form part of ts5e financic4 stolemen15 Po9e 8 continued... THE LOUGHBOROUGH BELLFOUNDRY TRUST JALANCE SHEET- ¢onlknu•d 31 March 2024 The Nnancial slalem&n15 were cpproved by the BoJd of Twslees ¢￿d avthorfsed Iu i55ue on ..I3.:...o.i.-..w.t.&.......... and were signed on its behalf by: A W R Wilby- Trustee The notes form kyjrt of these financKI slalements Page g THE LOUGHBOROUGH SELLFOUNDRY TRUST CASH FLOW STATEhlENT Th• Year Ended 31 Morth 2 2024 2023 as restaled Notes cash110￿ from op•r¢thg acllvllles Cosh gtrneialed from operations 2,234,747 823.983 Net cash provKled by oparating acti￿11e9 2.234,747 823.983 Cujh flows from Inv•sifng ¢KI1vK￿l Purch05e ol longib￿ fixed 055e15 PLKchas8 of Fpritage assets 14.0631 2.892.938 15761 335.337 Nel cash v5ed in investing octivitie5 2.897.001) 335,913 Chong• In c￿h and cash •qul¥•lents In the ￿Port￿b9 perfod Cash ond caih ¢qvfvalents atlhe beglnnlng ol Ihe rèporltng perfod 1662.2541 488,070 719.945 231.875 Cosh and Cush •quTvglwnts al Ihe end ol thè roporfkng Pe￿0d 57,691 719.945 The notes form part ol these l*ancial statements Page 10 INE LOUGHBOROUGH BEILFOUNDRY TrUST NOIES TO ThE CASH FLOW STATEMENT For The Year Ended 31 March 2024 RECQNCILIAnON OF NEI INCOME 10 NET CASH FLOW FROhl OPERATING ACTMIIES 2024 2023 a5 restoted Ilel Ineomelor the reportlnw ￿TrIOd {as per Ihe Stal•ment tyt Fhwnc￿l A¢tSvlll•s) Adjuslmerds lor. Depreciation chorg95 Decreasellincreasel in debtors (Decre￿ellinCreQSe in G18ditors 2,485,921 739,328 1.768 74.862 327.804 1148.1261 231,665 Net euih provlded by operamom 2,234,747 823,983 ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.23 Cash flow Al 31.3.24 N•t ¢wh Cash at bank 719,945 662254 719,945 662.254 57,691 Total 719.945 662.254 The noles form port of these fincncS0l sfotemenls Poge 11 THE LOUGHBOROUGH JELIFOUNDRY TRUST NOIES TO IHE FINANCIAI STATEMENTS The Year Ended 31 Morch 2024 ACCOUMnNG POUCIES basts ol w¢purfng the ffnanclolstat•ments The finoncial 51otements ol the charitobb C￿￿panY. whlch is O PLblic benefit vrKler FRS 102. hove been prepared in occordance with the Charities SORP IFRS 1021 'Accounling ond R8POrting by Charities: Slotement ol Recommended Practicg Iyplicthle to charities preparing theii accounts in o¢cord0￿e with the FinancKI Reporting Slandard opplicable in the UK and Republ￿ of Irelond IFRS 1021 lefleclive I January 20191.. Financial Reporting Slondoid 102 'The linancial Reporling Standard applicoble in the UK ond Repubic of Irelond, tsnd the Componi6s Acl 2)06. The financial Statements b¢$n prepared undarthe hislorkd c05t ¢onvgntion. The chorrfy is a compony Iwnited by gvarcntee ond 15 a chJilable incorporated oigonpsatK)n ICDI 05 deffned by the Componies Act 2CQ6. I￿1)￿• All income is ￿cogniSed once the charty hos entitlement lo the incom9, tl is probd)le that th& income will be rgcgwed and the amount of the incorna recavobk can be Me￿vred relirtjly. Don¢thons ond l•gacles Donath"ons orè recognised when tho charity has been notified in writir)g ol both the iynount and setllement ale. h the event that a donotion 15 subject to condih.ons thal require a level of perfO￿￿OnCe by the chority beloie Ihg charity is enlitled to the fund5, the income 15 deferTed and not recOgn￿ed until ei1her Ihose conditions a￿ fully met, or the futh"thent ol those condition5 15 wholly within the control of the ctrnrify ond it ￿ probable that thgse condilions wll be fulflbd in Ihe reporting p8ri0(J. Granls iecelvable Grants are recogn￿ed when the ch£￿ty h05 an enlimement to the fund5 and ony ¢onoltKJn5 linked to th& g[￿ts have been met. Where performance corKlilions are attoched to the grant and oFe yel lo be mel. the income is recogni5ed as a lobility ond included on the bolonce sheet as defe￿&d income lo be released. EX￿n07h All expenrfitvre ￿ recogn156d once Ihere 15 a legd or conslrvclive obligcrtion lo thot expenditure. it is proboble setmement is required ond Ihe omounl can be measured refiab￿. AII c0515 ore dlocaled lo ty g)FAicable eypendture heocfing Ihat oggi8gote sim11￿ costs to thot category. Where costs cannot be direclw allributed to porticulor headings Ihey hove been allocofed on o basis COn￿Stent wth the use of resources, wilh central sloff costs ollocoted on the t)asis ol time spent. and dppreciaticn choiges allocaled on the portion ol the assel'5 Use. Other support costs .O(K) 20,000 2.753,7Ql 906.488 INVESTMENT INCOAIE 2024 2023 os ro51oled Rental income 79,200 79.2CXJ RAISING FUNDS Rolslng donallons and lega¢les 2024 2023 as restate Consultancy lees 40.876 50.474 CHARItABLE AcTrwllES COSTS support C05t515ee nole 61 Direct Costs Tolds Charitable a¢tiwlies 220.135 138,568 358,703 Poge 14 conlinvgd... THE LOUGH60ROUGH BELIFOUNDRY TRVST NQIES 10 THE FINANCIAL STATEhlENTS- conlknu•d ForThe Year End*d 31 March 2024 SUPPORT COSTS Governance costs mon￿eMent Finoncg Totds Chotitoble acliMlie5 1,554 19,250 138.568 NET INCOMEI{EXPENDITURE) Nel IncomellexpendilLKel Is staled aftèr clKxgingllcrecfjtingl.' 2024 2023 Qs restoted Auditors, r8munerolK)n Depteciotion- owned ossets 7,050 1.768 TRUSTEES. REMVNEKATION AND BENEFITS There were no Iwslees, reMUneral￿Th or other benefits lor the yeor endèd 31 Pmrch 2024 nor lor Ihe ye ended 31 Morch 2023. Trustees. expens 4 Iru51ees were reinbursed trovd expernlture amounting to £3,873 lor the yeor ended 31 March 2024 12023- £1.672 reimbursed lo 4 trv5teesl STAFF COSTS 2024 2023 as iesloted Wages 0rKI 5olaries 117.764 43,124 117.764 43,124 The average monthty nwnbei ol 8mployees during tt)e yeor was as follows: 2024 as restated Charfty admnislralign No empbyees received emoluments In excess of £60.0(K). Page 15 conlnued... THE IOUGHBOROUGH BELLFOUNDRY TRUSI NOIES TO THE FINANCIAL STATEMENTS- c¢)nllnued ForThe Yeai End•d 31 March 2024 COMPARATNES FOR THE STATElaENT OF FINANCIAL ACIMnES Unrestricted lund Restricted fvmd5 Totd funds as rèstated INCOME AND ENDOWMENIS FROM Donations ond legcries 915,930 915.930 Investment income 79.200 79,200 Total 79,200 995,130 EXPENDITiIRE ON Raising lurKts 50,474 50.474 Char*obJ8 a¢lSvWles Chorilable octivities 205.328 205.328 255.802 255,￿2 NET INCOME 79.2(KJ 660,128 739,328 IEECONCIUATION OF FUNDS Total funds brought lorwaid 16,044 290.WI 306.645 TOTAI FUNDS CARRIED FORWARD 95.244 950.n9 1.045.973 PRIOR YEAR ADJUSTMENT A prior yecw adjustment to the year ended 31 March 2023 hty been mode in re￿tion to restoration costs incurred of £335,337 which Should have been capitolised on the balance sheet. adju5trnent been made hos reduced the exp8n(fituFe and incre059d the hetllage osset lor the yeaiended 31 Merch 2023. As previou5 ieportod A5 restated enditure on charitoble octivilies Heritage a55et C051 bought fowrd R05tricled lund¥ corryed 205,328 s.￿7 950.729 540,665 Nil 615.392 Poge 16 continued... IHE LOUGHBOROVGH BELIFOUNDRY TRUST NQTES TO THE FINANCIAL STATEMENTS . ¢¢nllnv•d ForThe Year Ended 31 March 2024 12. TANGIBLE FIXED ASSETS FNture5 and COST Al l April 2023 Addition5 4,929 4,063 At 31 2024 8,992 DEPRECIAIION Al l April 2023 ch¢￿ge loryear 1561 1.768 At 31 March 2024 NET BOOK VALUE Al 31 March 2024 4.663 Al 31 March ￿23 HEPJTAGE ASSETS Total os re51ated MARKET VAIUE Al l April 2023 Additions 335.337 2B92,938 At 31 March 2024 3,228,275 NET BOOK VALIIE At 31 March 2024 3,228,275 Al 31 March 2023 335.337 The trust holds freehold title lo the larKI locatèd al Freehold Stroet. LoLtybor(wgh. LEI I IAR on which the ellloundty ts silualed. The Bellloundry ￿ a Grade Il. listed buildiro wikn Historic Englond. Poge 17 conlinved... THE LOUGH8OROUGH BELLFOUNDRY TRUST NOTES TO THE FINANCIAI STATEMENTS - corllnued For The Year End¢d 31 March 2024 IQ DEblORS: AMOUNIS FALLING DUE WITHIN ONE YEAR 2024 2023 os rgstaled Trade debtors Other debtors VAT Prepayments 42.227 19.800 197,201 206,551 39,6(K) 75.242 12.697 259.228 334 090 15. CREDIIORS.. AMOUNT5 FALUNG DUE WITHIN YEAR 2024 2023 os re5totsd Irade crecfjlors Deferred Ir￿Qme Accrued expenses 3.213 323,217 19.81 2.7 14,750 17,963 345.767 i& ANALYSIS OF NE[ ASSETS BETWEEN FUNDS 2024 2023 (ts teslaled Total rvnds un￿51￿cted Ivncl Restficted funds Told funds Fixed assets Current 055ets Cuffent lobilitie5 4.6 259.22e 36.848 3.228.275 57.691 18.885 3,232,938 316.919 17.963 337.705 1.054.035 345,7671 227.043 3.304.851 3.531.894 1,045.973 17. MOVEMENI IN FUNDS Prior year adjustrnent Net Mov8rr￿n1 in funds Transfers between funds Al 31.324 Al 1.4.23 Vnr•strlcted fvnds Ggnerol fund 95.244 131.799 227,043 R•slrtcted Foundry re51orotion ftJrKI Foundry her[l￿e o5sel 615.392 2,354.122 12.892,9381 2.892.938 76,576 3,228,275 335,337 615.392 335.337 2.354,1 3.304,851 TOTAL FUNDS 710.636 335.337 2,485.921 3.531.894 Page 18 continued... IHE LOUGHIOROUGH BELLFOUNORY TRUST NOTES TOTHE FINANCIAL STATEMENTS- contlnued ForThe Yeai Ended 31 Mareh W24 17. MOVEMENT W FVNDS - conllnved Net movement in funds. included in the above ore as follows: Incoming resoLKce5 Re50uices expended Movement in funds Unrejtrlcted fundi General fund 131.799 131.799 Resfrkted fvnds Foundry re51oTation furKJ 2,753.701 1399.5791 2.354,122 TOTAL FUNDS 2,885, 399 579 2 485.921 Compwall¥u for mov•m•nl in funds Net movement in funds Transfers be￿een lund5 At 31.3.23 At 1.4.22 Unreslrkted Generd fund 16.044 79,200 95.244 Restrlcted fvnds Founwed £42,22812023 £206.5511 by Ihe company. Saknrie5 ond other eypenses were rechorggd from John Taybr Bell Foundry (Loughboroughl Limlted omounling to £117.764 12023 £43.1231. Al 1he yeu end fhe T￿t owed £NI 12023 £118.5061 lo the compony. Page 20 THE LOVGHBOROUGH BELIFOUNDRY TRUST DEfAILED STATE•lENf OF HNANCIAL ACTIVIIIES ForThe Yèor Ended 31 March 2024 2024 2023 as ieslaled INCOME AND EM)OWMENI$ Dork(rflons and l•gocl•s Oonotions Giff old Gronts 52,599 1,848 7,594 906,488 2.753,701 2.806,3(K) 915,930 Inv•thenl Income Rental income 79.200 79,200 Told Incomkng f•sourc 2,885.500 995.130 EXPENDITURE Ralslng donryllons and leguei Cornvttoncy feès 40.876 50.474 Clthlabl• ¢y¢llvme$ Trovel expenses Ltleiatvre ond brochure5 Advertising Svndrie5 Computer costs Archrffeclural. desiqn. project and ottr￿r profe55ionol lees Rot&s and woter Insuionce Storage rent Training and work5hop5 FLxlure5 and r￿ing5 4,115 5,263 2,164 16.187 210 1,754 2.147 1.886 184,514 3,462 9,235 4,965 2,663 1.768 114,535 6,238 2,693 220.135 145,565 Support Alanag•m•nt Wages 117,764 43,124 Flnance Bank charges 1,554 767 Gov•manc• cwts Audtlors, iemuneralion Corried loward 7.050 7.050 This poge does not lonn part of the stotutory flnoncial slolements Page 21 THE LOVGHBOROUGH BELLFOUNDRY TRUST DETAILED STATEMENT OF FINANCIALACIIVIIIES ForThe Year Endèd 31 March 2tr24 2024 2023 os re51ated Govemance costs Broughl lorword Accovntoncy fees 7,050 T5.872 19.250 15.872 Totd re50wces expended 399.579 income 2,485.921 739.328 Ihis page does not fom pLYt of the slolutory linoncid 5talemenls Page 22 JOHN TAYLOR & CO rj.ri É John Taylor Bell Foundry (Loughborough) Llmlted Iradlng as JOHN TAYLOR & CO. Rpgistered in En918nrt No, 7032766