Registered Charity No. 1167316
Registered Company No. 10097955 (England & Wales)
St Bartholomew's Heritage
Trustees, report and audited financial statements
Year ended 30 April 2024

St Bartholomew's Heritage
Contents
Page
Trustees, and charity information
Trustees, report
Independent auditor's report
15
Statement of financial activities
19
Balance Sheet
20
Statement of cash flows
21
Notes to the financial statements
22

St Bartholomew's Heritage
Trustees, and charity information
Trustees
Clare Maurice (Chairl
Michael Smith (resigned December 20231
Sir Marcus Setchell IDeputy Chairl (resigned December 20231
Brendan Finucane KC Iresigned December 2023)
Douglas Harmer
Dr Robert Treharne Jones
Professor Charles Knight OBE
Amicia de Moubray
Christopher Mark Pemberton OBE
Dr Rupert Evenett MBE lappointed December 20231
Antony Hales CBE lappointed December 20231
Eric Reynolds lappointed December 20231
Reglstered address
71 Queen Victoria Street
London
EC4V 4BE
Charity number
1167316 (registered in England & Wales)
Company number
10097955
Independent audltor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Accountant/Bookkeeper
SPX Oxford Ltd
Peace House
19 Paradise Street
Oxford
OXI ILD
Bankers
C Hoare & Co
37 Fleet street
London
EC4P 4DQ
Legal Advisers
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH

St Bartholomew's Heritage
Trustees, report
Year ended 30 Aprll 2024
The trustees (known as directors under company lawl present their annual report and financial statements
for the charity for the year ended 30 April 2024.
Legal status and constitution
St Bartholomew's Heritage (referred to as 'Barts Heritage, or'the charity, is a company limited by guarantee,
incorporated in England and Wales. It was incorporated on l April 2016 and is governed by its Memorandum
and Articles of Association, as amended on 18 May 2016, 19 August 2020 and 14 September 2022. Its stated
mission is to 'advance the education for the public benefit through the preservation, rostoration, and
maintenance of the Grade l Listed buildings and structures of historical and/or architectural interest and
importance at the hospital 1st Bartholomew'sl and the City of London,.
St Bartholomew's Hospital was founded in 1123 to give free medical care to the poor. There 15 no other
hospital in the country that can match its record of continuous service on the same site. The modern Hospital
is home to the Barts Heart Centre lone of the largest Cardiac centres in Europe) and the Barts Cancer Centre.
The Hospital has been part of the NHS since 1948 and is now run by Barts Health NHS Trust.
In addition to the church of St Bartholomew-the-Less which dates in part from the 15th century, the hospital
site has a number of nationally important historic buildings dating from the 18th and 19th centuries including
the Grade I listed Henry Vlll Gatehouse and North Wing (designed by James Gibbs11682-175411 with its
spectacular Great Hall and celebrated staircase decorated by two huge canvasses by the leading artist
William Hogarth11697-17641.
Since the foundation of the NHS, the Hospital has understandably prioritised healthcare and research over
the repair and maintenance of its historic buildings. In 2016 St Bartholomew's Heritage was established by
Barts Health NHS Trust in response to the growing need to address the deteriorating condition of these
heritage assets, to carry through their conservation and repair, and to ensure their long-term futL(re. In June
2021 it signed an Agreement for Lease with Barts Health NHS Trust for the North Wing and Henry Vlll
Gatehouse and has launched a major appeal to raise the funds required to repair and renovate both buildings
to coincide with the 900th anniversary of the Hospital in 2023.
Structurei governance and management
The Chief Executive of Barts Heritage. Will Palin, is an architectural writer, campaigner and heritage expert.
In May 2023 he oversaw las Chair of the Sheerness Dockyard Trust) a £9.5m scheme to rescue and restore
the fire-damaged Dockyard Church on the Isle of Sheppey.
Until April 2023 the Trustee board met monthly- since then the meetings have been bi-monthly. Since April
2023 a Working Capital Steering Group has met monthly Isometimes more frequently), this latter group
comprises four trustees and the Chief Executive. The Chairman and Chief Executive attend regular meetings
with Barts Health NHS Trust, Barts Charity and other key partners and stakeholders to share resources and
information and discuss strategy
as well as addressing any possible future conflicts in terms of capital
works etc.
The Barts Heritage trustees who served during the year, and to the date of approval of this report, are shown
on page l.
The trustees have been appointed according to their relevant expertise to the Charity's aims and objectives.
Some have specific skills relating to the planned restoration project and a number also have direct
experience of working at the Hospital or with its partner organisations.

St Bartholomew's Heritage
Trustees, report (continued)
Year ended 30 April 2024
New trustees are appointed following a shortlisting process. Candidates are then interviewed by the Chair
and a recommendation made to the board for approval. Successful candidates must then complete a
Declaration of Interest and a Declaration of Trustee Eligibility and Responsibility. The trustees delegate day
to day management of the charity to the Chief Executive. The Chief Executlve is considered to be the key
management personnel of the charity. Remuneration of the Chief Executive is agreed by the Board of
Trustees with reference to industry benchmarking and the specialist skills required for the role. This is
subject to annual review.
Clare Maurice (Chairman) is a former Chair of Barts Charity (then known as the Special Trusteesl. During her
time as Chair, she oversaw the merger of the Barts Special Trustees with the Royal London Special Trltstees.
She also brings valuable legal experience. In 2009 she founded Maurice Turnor Gardner LLP of which she is
a Senior Partner. Her main specialism is international tax and estate planning. Clare also has considerable
experience in advising charity trustees and acting as a charity trustee.
Michael Smith was the former Chairman of Barts Charity and so is familiar with the Hospital and the recent
history of the management of the historic buildings and collections. He is a former Chairman of Nuffield
Health, the largest trading charity in the UK.
Sir Marcus Setchell (deputy Chairman) has been associated with St Bartholomew's for over 50 years and has
been instrumental in ensuring the long-term future of the North Wing through a negotiated planning
agreement between the Hospital, the Maggie's Centre and the City of London. He is a leading obstetrician
and gynaecologist and former Surgeon-Gynaecologist to Queen Elizabeth11'5 Royal Household.
Profe550r Charles Knight OBE is Chief Executive of St Bartholomew's Hospital London. He is a Consultant
Cardiologist and Honorary Professor at the William Harvey Research Institute, Queen Mary University of
London. In 2020 he was seconded for a period to Chief Executive at NHS Nightingale Hospital London as part
of the Covid response. Given that the Grade l Listed buildings to be leased to Barts Heritage are on the
hospital site Charles's involvement is crucial to ensure good collaboration between our charity and the
Health Trust.
Brendan Flnucane KC has been involved with Barts for a number of years. Through his involvement at the
Royal Academy, the Art Fund and other arts organisations he provide5 expertise in the sectors of arts and
heritage. He is a retired Judge having spent 46 years practising in the field of criminal law and 15 now
undertaking an MA in Art History at the Warburg Institute.
Mark Pemberton OBE was previously Director of National Collections for English Heritage. He is Chairman
of the Ironbridge Gorge Museum Trust and of the Waltham Abbey Royal Gunpowder Mills Charitable
Foundation and a Trustee of the National Museum of the Royal Navy Operations Company. He brings
experience in the operational management of heritage properties and collections.
Dr Robert Treharne Jones was trained at st Bartholomew's Hospital and worked as a GP before founding a
health informatics company. Robert has responsibility for looking after the Friends of Barts Heritage, which
includes hundreds of member5 who support the initiative to restore the Great Hall and preserve its
collections.
Amicia de Moubray has a long career in arts and heritage having worked previously at the National Trust
and the Victorian Society. She has written and edited a number of publications including Twentieth Century
British Castles120131. She brings a wealth of experience in the field of fundraising, most recently helping to
secure £3m of match funding for the Lottery-supported Sheerness Dockyard Church project in North Kent.

St Bartholomew's Heritage
Trustees, report Icontlnuedl
Year ended 30 April 2024
Douglas Harmer is the Co-founder of Oakwell Capital Limited which provides strategic and financial advice
to corporates, management teams and high net worth individuals with a particular focus on the sports and
leisure sectors. He brings essential financial and accountancy'expertise and is a qualified Chartered
Accountant.
Rupert Evenett MBE is an experienced Chair and board member in the charity and education sectors, after
a career in corporate f inance. He is currently Chair of John Wallis Academy in Kent, and ha5 previous been
Chair of London sixth form college, Christ the King Sixth Forms, and Finance and Audit Chair of Goldsmiths,
University of London. In the charity sector, roles have included Chair of The Conservation Volunteers, Chair
of Audit at Alzheimer's Research UK, and Chair of Finance and Audit of the Old Royal Naval College,
Greenwich. He has specialised in organisations undergoing growth, change or major projects in heritage,
volunteering, education and impact investing. He was awarded an MBE in 2023.
Antony Hales CBE is Chair of the Associated Board of the Royal Schools of Music and NAAFI Pension Trustees.
He was previously Chief Executive of Allied Domecq and Chair of Workspace plc, NAAFI, British Waterways,
the Canal and River Trust and the Greenwich Foundation for the Old Royal Naval College and the Senior
Independent Director of Aston Villa.
Erlc Reynolds is a property developer who has set up and run some of the most loved people places in
London including Camden Lock Market, Merton Abbey Mills, Spitalfields Old Fruit & Vegetable Market,
Gabriels, Wharf and Bishopsgate Goodsyard. Since 1998 he has been running Trinity Buoy Wharf which has
a mix of historic and new buildings. Eric played a key role in saving Smithfield Market, London and is the
Chair of SAVE Britain's Heritage. In 2012 he was awarded the Regeneration & Renewal 'Lifetime
Achievement Award, for Regeneration.
Under the chority's constitution the Barts Health NHS Trust moy appoint one Trustee. Professor Charles
Knight is the current nppointee,
Objectlves and activities
The charity's object5 are..
The advancemont of education for the public benefit through the preservation, restoration and
maintenance of buildings and structures of historical andlor architectural interest or importance at
the Hospital and elsewhere in the City of London, and through such other means as the directors
think f it,. and
Such other exclusively charitable object5 and purposes as the directors may in their discretion think
fit.
In planning the activities of the charity, the trustees have given due regard to the Charity Commission's
guidance on public benefit. The trustees were satisfied that all the objectives were achieved during
the year.

St Bartholomew's Heritage
Trustees, report (continued)
Year ended 30 April 2024
Key achievements and performance durlng the financial year
The year up to 30 April 2024 was momentous, with Barts Heritage moving from the planning to the delivery
stage of the major Shoring Historic Barts restoration project. The period also witnessed the f inal burst of
activity around the 900th anniversary of the hospital.
The key achievements were..
Completion of RIBA Stage 4 design report by project architects, Purcell
Tendering and appointment of our main contractor and painting conservators
Insurance cover obtained for building works and existing structure of North Wing and Gatehouse
staging of the Summer Feast- the Barts Heritage 900th anniversary fundraising dinner.
Appointment of three new trustees
Successful application for grant uplift from National Lottery Heritage Fund INLHFI
Completion of leases of North Wing and Gatehouse
Completion of asbestos removal works
Refurbishment of Gatehouse as contractor base
Successful discharge of pre-construction planning conditions
Commencement of capital works
Barts Heritage office relocation to ground floor of North Wing
Incorporation of Barts Heritage Trading Ltd as trading subsidiary of charity
Recruitment of administrator and engagement team
Confirmation of the continuing Patronage of His Majesty King Charles111
Sharing Historic Barts Project
Capital Works
The early part of the f inancial year saw the finalisation of our design report and the tender document for
our main contractor, issued in May. June saw the final major event in the Great Hall, the Barts Heritage
Summer Feast followed by a last hurrah in July with a farewell drinks reception for our supporters. The Great
Hall closed in July and work then began to decant furniture and other items ahead of start of works.
The procurement proces5 for our main contractor was completed in September, with a Letter of Intent
issued to Coniston Ltd in November. That month, after a long perlod of negotiation, full insurance cover both
for the existing structure of the North Wing and Gatehouse, and for the contracted works, was finally
secured via broker BLW. This, alongside an agreement to pay the Health Trust a yearly contribution towards

St Bartholomew's Heritage
Trustees, report {continued)
Year ended 30 April 2024
the cost of historic works in the Nuffield building, enabled the leases for North Wing and the Gatehouse
agreed in 2020 - to be completed. By this point, given the
proximity to Christmas, it was decided to postpone the start of
works until the January 2024. The City of London approved the
discharge of pre-commencement planning conditions in
December, removing the last obstacle to commencing full
contract works.
In December and January, the Henry Vlll Gatehouse was
refurbished as a site office for our main Contractor
allowing
them to start enabling works in the North Wing, including the
moving and protection of art works and the removal of asbestos
(completed in early January). Inside the Great Hall, the oak
floorboards, laid in the 1960s, were carefully taken up and
stored. The secondary pine floor (probably the originall was also
taken up allowing new services to be laid. Opening-up works also l -
continued in other areas of the North Wing.
SHARING HisfoiucBAIiTS ￿,
Meanwhile, discussions were underway to finalise the
scaffolding design. Following discussions with our structural
engineers, the scaffolding was adapted to allow for a 'bird cage,
arrangement, where the internal framework, with public access
deck, was run through the windows of the Great Hall and supported by the external Scaffolding. The main
scaffolding Structure was in turn adapted to spread its weight, allowing for unknown ground conditions
around the North Wing. Scaffold build began in March, a delay of some 8 weeks - which was not predicted
to impact the overall programme.
The North Wing, underscoffolding. April 2024
Key moments in the project so far have included the
removal of the 17th-century Chartor Window in the
Great Hall for conservation at Wells, Somerset, and the
dismantling of the clock, again for restoration, this time
by the firm Thwaites & Reed (the original
manufacturers). As works proceeded in the Hall, various
'mementos' including signed panels and cigarette
packets were discovered. Similarly, signatures of
previous restorers for the 18th and 19th centuries were
found on the stained glass panels in the Charter
Window.
The Charter Wlndow Is removedfrom Èhe Gre17t H1711for
cc)nservation Iphoto.. Motthew Andrewsl

St Bartholomew's Heritage
Trustees, report {contlnued)
Year ended 30 April 2024
The treatment and presentation of the timber
panelling in the Great Hall, and the balustrade and
panelling in the Hogarth Stair, was discussed at
length, with trials prepared in various locations. This
Ilowed the team to asse55 finishes against the paint
samples which had been applied in the Great Hall, in
2023.
With works underway, it was crucially important that
the archive areas in the basement of the North Wing
were properly protected. Our specialist consultants
worked
with the archive team to
install
environmental monitoring sensors in these spaces.
These would provide data on temperature and
humidity
providing an early warning system,
allowing for mitigating measures to be put in place.
Work begins on lifting the[loor of the Greot Holl to ollow new
services to be installed (Photo.. MuÈthewAndrewsJ
At the end of the financial year capital works, including the scaffolding built, were ongoing with the projected
completion date of July 2025 remaining unchanged.
Our publlc conseTVQtlon tours hove included access to the Hogarth Stt7irc(Fse (PhoÈo.' Matthew Andrews)

St Bartholomew's Heritage
Trustees, report Icontinuedl
Year ended 30 April 2024
Public Engagement
Early 2024 saw the recruitment of our engagement team who are
tasked with the delivery of our pioneering programme of activities set
out in our NLHF submission.
Our Heritage and Health Engagement Manager, Caroline Hamson,
started with us in February 2024. She has worked previously at the
Society of Anaesthetists and brought considerable experience of
working in the overlapping areas of health and cuSture. Caroline was
joined by part time Interpretation Research Associate Kate So, who
came to us from the Old Operating Theatre at Guy's Hospital. A third f
member ofthe team, Fay McDermott, was appointed in March as our
Heritage and Health Engagement Officer. Fay joined from 2 Temple
Place where, as programme coordinator, she managed the volunteer
programme.
The priority for the engagement team was to develop and deliver the
public access scaffold tours- one key elements of our activity plan. The
tours, led by trained volunteers, will include talks and demonstrations
by conservation specialists. and access to the high-level deck in the
Great Hall. Two tours a day are planned for from July 2024 until the end of January 2025 - with a target of
5,000 visitors. A new introductory video has been commissioned along with a handling collection of plaster
ornamental details and wood carving samples.
Engagement Officer Fuy leading a
refresher tourfor tourguides
A Bart5 Herit(Fge volunteer leads a conservotion tour in the Greot Holl (Photo.. MLTtthewAndrewsJ

St Bartholomew's Heritage
Trustees, report (continued)
Year ended 30 Aprll 2024
Admin & Governance
Vicki Whitehead joined as the new full-time Executive Assistant in May 2023. In January 2024 Barts Heritage
relocated its off ices to the ground f loor of the North Wing- which has become our new base for all activities
relating to the Sharing Historic Barts project- including staff and volunteer training.
Three new trustees, Eric Reynolds, Tony Hales CBE and Rupert Evenett MBE were formally appointed to the
board on 19 December 2023. Three existing trustees Sir Marcus Setchell, Brendan Finucane KC and Michael
Smith retired as directors that same month.
Events and Visits
The Barts 900 book was launched in the Great Hall in May 2023. In June, a facsimile of Adam Dant's
monumental art work, 900 Years in 900 Stories, was installed in the Hospital foyer, replacing the original. In
August a smaller-size print was made available via Adam's gallery TAG Fine arts.
The City Music Foundation held its 'Medicine and Music, gala event in the Great Hall on 14 June, with
narration written land performed) by Simon Callow and Donald Mcleod including new music commissions
from Derri Lewis. The evening featured a sung tribute to the donor boards in the Great Hall,
The Barts Summer Feast gala dinner was held in the Great Hall on 29 June, with a reception in the Pathology
Museum. It was attended by 160 people, including the President of the Hospital HRH The Duke of Gloucester,
and finished with an auction
conducted by Clementine Sinclair, Old Master5 Specialist at Christie's. A
separate drinks reception was held in the Great Hall on 6 July. A new version of our promotional film was
commissioned for the event.
Before the closure of the North Wing, we hosted vi51ts f rom the Courtauld Patrons; the Friends of Colonial
Williamsburg,. and the Merchant Taylors.
special reception was held at Charterhou5e on 12 March 2024 to celebrate the end of the 900th
anniversary year. Barts Heritage hosted the Lord Mayor and Lady Mayoress on in April 2024 as part of a visit
to the Hospital. Also in April Will Palin and Robert Treharne Jones presented a webinar for the friends on
giving an update on the North Wing project works. 8 April 2024 was View Day at the Hospital - there were
various activities in The Square lincluding a Barts Heritage stand) during the day followed by the Service at
St Bartholomew the Great and reception at Haberdasher's Hall.
Away from the Hospital, Will Palin made several appearances as a guest speaker. He chaired a discussion on
the legacy of Sir Christopher Wren at the Royal Hospital Chelsea; gave the address at the League of Nurses
AGM at Guildhall land the 'class of '65, nurses at a separate eventl,. presented on the Sh(yring Historic Barts
project for the Senior Physicians society lat the Royal College of Physiciansl,. spoke to the friends Temple Bar
Trust at Temple 8ar in the City of London; contributed to a conference on Health and Hospitals at Glaziers
Hall.
Barts Heritage Trading Ltd
Barts Heritage Trading Ltd IBHTLI, a trading subsidiary of 8art5 Herltage, wa5 incorporated in December
2023, with Will Palin and Mark Pemberton as the f irst directors. Susan Holding was later confirmed as an
independent director. The trading company has been working with consultant Simon Cope on the selection
and appointment of our sole caterer later in 2024. BHTL was dormant in the year ended 30 April 2024.

St Bartholomew's Heritage
Trustees, report {continued)
Year ended 30 April 2024
An updated draft business plan with 5 year Profit & Loss spreadsheet was produced by Simon Cope in April
2024- working with Mark Pemberton and with input from other trustees.
Fundraising practice disclosure
The Chief Executive is responsible for raising both unrestricted income and funds for the Sharing Historic
Barts project and is supported by a professional fundraiser working on a freelance basis. Barts Heritage does
not seek to secure donations through direct marketing or other unsolicited means. Our approach is to
expand the donor pool through our networks, promoting the goals of the charity and growing the visibility
of the North Wing and our project. An important contributor to our revonue fundraising activity is the Barts
Heritage Patrons Circle whose members contribute annually and enjoy a rolling programme of events and
visits. We monitor benefit levels of this group and benchmark them with other similar schemes run by other
cultural organisations.
The professional fundraiser contracted by Barts Heritage works to a specific brief, reporting regularly to the
Chief Executive, and attending Board meetings as required to report on progress. We adhere to the
principles of the Code of Fundraising Practice and our Gift Acceptance Policy has been in place since the start
of our fundraising activity in 2020 to guide our due diligence procedures in respect of funding sources. Barts
Heritage uses the NowDonate platform accessed via its website which has an opt-in approach in relation to
personal data. We comply with the General Data Protection Regulations and our privacy policy is available
tshoi--!aAi.ofo:iij< /
We keep in regular touch with donors and f unders to keep
them updated on the project's progress and we adhere to all grant conditions and reporting required by
grant-givers. No complaints have been received in relation to fundraising.
riijac
Fundraising update
Our capital fundraising campaign for Sharing Historic Barts has been the primary focus for fundraising over
the last three years, and we reached our target during the course of 2023. Major grants from charitable
trusts and family foundations provided 80°A of the £4.5 million we needed to match the major grant from
the National Lottery Heritage Fund. The remaining 20Q/o came through gifts from individual donors, many of
whom are from the Barts alumni community. We acknowledge and greatly appreciate thatthe
project was supported by The City of London Corporation's Community Infrastructure Levy
Neighbourhood Fund ICILNFI. A crucial factor in our success was the support we received from
Dr Geoffrey and Mrs Kate Guy over 2020 to 2023,. this enabled us to focus entirely on securing
the project funding we needed, and without it, we would not have been able to begin the
restoration of the North Wing in the 900, anniversary year of 2023.
CITY
LONDON
We are enormously grateful to all those who have supported the project, and to many others who contribute
each year to Barts Heritage. The Barts Heritage Patrons Circle continued to flourish. Visits during 2023
included a curator-led evening tour of Kenwood House on 20 April,. a visit to a privately-owned 17th-century
house in Cloth Fair, Smithfield,. a tour of the private apartments at Knole by Sir Robert Sackville-west,. an
introduction to the painting conservation studios at the Courtauld Institute of Art,. a 'Shakespeare and
Hogarth, evening at Sir John Soane's Museum,. a tour of Bethlem Museum of the Mind,. a visit to the Old
Operating Theatre at Guy's Hospltal,. a Christmas drinks party at Terrets Place, Islington,. a tour of the
Institute of Anaesthetists in Portland Place. and a special visit Westminster Abbey.
Fundraising continues to be a priority, to secure the funding we need to operate through the project
programme, and to raise the funds we will need to thrive once we are fully open to the public in 2025. This
will include support through legacies, and we were fortunate to receive two significant pledges of gifts in
io

St Bartholomew's Heritage
Trustees, report {continuedl
Year ended 30 Aprll 2024
Wills this year. Income from f undraising will support our annual programmes of cultural, education and
wellbeing activities as well as helping us maintain the building through the decades to come.
Royal Patronage
In May we received the excellent news that His Majesty King Charles 111 would continue as Patron of Barts
Heritage, a role he took up in 2021 a5 The Prince of Wales.
Summary of progress since financial year end
The Chorter Window under conservutAOn in We115, Somerset, und jrightl the re-pointed hondsfrom thefamous Nort Wing clock.
Since April 2024 works to the North Wing have been progressing well. In May, the external scaffolding was
completed, complete with smart 'shrink wrapping, and hoarding with applled graphics. The cleaned and
repaired f loorboards of the Great Hall were re-laid following the installation of new seNices. The internal
'birdcage' scaffolding was completed in July allowing the painting conservators to start work. Since then the
team has cleaned and repaired decorative surfaces at high level in both the Great Hall and Hogarth Stair. A
team of specialist decorators then took over and this work is currently in progress.
The Charter Window was carefully removed from the Great Hall in May and taken for repair to to a specialist
conservation studio in Somerset. The North Wing clock Iface and hands) was also removed and is now under
repair with the firm Thwaites and Reed, who made the original. In June the 1740s chandelier was lowered
and re-located on site for conservation works.
On the exterior of the building, cleaning works have continued, along with associated stone repairs. Repair,
reglazing and repalnting of the North Wing's 160 windows is well underway. On the roof the slates and
copper are ready for repair and reinstatement Iwith lead replacing copper in all areas). Repairs to the roof
structure are currently underway and repairs to the two large chimney stacks were completed in September.
li

St Bartholomew's Heritage
Trustees, report Icontlnued)
Year ended 30 April 2024
Since the year end our engagement team have been focussed on the planning and delivery of our public
conservation tours. A team of 30 volunteers were trained over a 2 month
period during which time new interpretation material, including an
introductory film, printed leaflets and handling objects were produced.
Public, ticketed tours commenced on 22 July and to date there have been
over 1000 visits to our high-level observation deck.
Running alongside our public tours have been a number of other
engagement activities including mindful breathing. collage making and
drawing workshops for staff, a poetry takeaway day for staff and patients,
careers talks and workshop5 for young people and young carers - and a
community project in partnership with Charterhouse based around
photography and creative writing.
Our Patrons Circle enjoyed visits Dr Johnson's House, Trinity Buoy Wharf
and Temple Bar. Meanwhile Will Palin delivered talks and tours for the
Soane Museum Patrons, the Retired Fellows Society at the Royal Society
of Medicine, the 8arts League of Nurses and the Friends of Kenwood
House.
Eric Reynolds hosts a PJtrons
Clrcle visit to Trinity Buoy Wharf
In May two trustees. Tony Hales and Eric Reynolds Set up a 'challenge fund,, pledging £IOO,000 if this could
be matched by other donations by the end of the year. In October, our Chair Clare Maurice made a donation
of £50,000. A number of smaller gifts have been received since the year end including £8,000 from Neil
Jennings.
Financial review
The statement of financial activities on page 19 sets out the results of the charity for the year.
The charity received total income of £1,600k12023'. El,896kl during the year. This was mainly income from
grants and donations. Total revenue expenditure was £757k12023.. £870kl and total capital expenditure
was £1,566k12023.' £nill.
At the year end the charity had unrestricted funds of £1,535k12023: £407kl. The charity receivod some
restricted funding during the year- notably a grant of £856k12023'. £460kl from the National Lottery Culture
Recovery Fund and donations and grants towards the Restoration project of £473k 12023.. £1,104kl.
Restricted grant balances were £706k at the end of the year12023'. £990kl
The trustees ensure that they do not take on financial obligations until funds have been raised to meet those
obligations, and they therefore consider that there are no material uncertaintios about the charity's ability
to continue as a going concern,
Reserves policy
At the year end the charity's free reserves (calculated as unrestricted funds less the designated fixed asset
f undl had a deficit of £32k. This is due to the full recognition of the £400k enabling works which will be paid
in ten £40k instalments, see note 1112023.. surplus of £407kl. Payment of the future years £40k is c05ted
into budget. Various strategies have been put in place, including claiming VAT refunds monthly, to ensure
the cash position is secure. The trustees review the monthly cashflow position to ensure there are sufficient
funds for entirety of the projoct, and therefore consider that there are no material uncertainties about the
charity's ability to continue as a going concern for the foreseeable future.
12

St Bartholomew's Heritage
Trustees, report {contlnued)
Year ended 30 April 2024
The trustees will build up reserves in order to ensure funds are in place before the delivery of the planned
restoration project. A formal reserves policy of holding the equivalent of four months unrestricted
expenditure, was agreed and put in place during the financial year. The balance needed to meet the reserves
policy would be £115k which is less than the current reserves level of £I￿34k. This will be reviewed on an
annual basis.
Risk management
The trustees have examined the major strategic, business and operational risk5 which the charity faces and
conf irm that systems have been, or will be, established to enable the necessary steps to be taken to lessen
these risks. With the long lease for the Grade l Listed buildings from the Health Trust now agreed, the key
risk is achieving the required fundraising target to commence restoration work - particularly in the light of
the impacts on fundraising of the Covid pandemic. This is mitigated by the splitting of the proposed works
into two phases, each of about £IOm
reducing the fundraising burden. We also have conf idence in the
depth, quality and range of appeal of our project to funders. This is underpinned by our detailed fundraising
strategy and encouraged by ongoing, positive conversations with key funders including the National Lottery
Heritage Fund.
Another risk is sustaining enough working capital to continue to operate beyond the end of 2024. This is
mitigated by the regular income stream from our Patrons Circle and other medium sized donations from
individuals.
Future plans
The capital works element of the Sharing Historic Barts project is due to complete in July 2025, so the
short~term focu5 for the charity is seeing this part of the project through to a successful conclusion in time
for re-opening in September 2025. Running alongside this are preparations for the operation of the
building, both as a vlsitor attraction land venue for our ongoing programme of cultural activities) and a
commercially sustainable venue for private hire. Our public offer will be built around the agreed set of
outcomes with the National Lottery Heritage Fund and delivered by our team under the current funding
agreement until 2026 - by which time we intend to have embedded the activities within a long-term
programme supported by revenue and fundraising, as set out in our Business Plan. Our plans include
investlng in improvement to St Bartholomew's Hospital Museum as well as taking on the staffing of the
Museum through ourvolunteer programme.
By the end of 2024 we will have formally appointed our sole caterer who will run the venue hire elements
of the North Wing working with the Barts Heritage Commercial Manager, a separately funded post.
Marketing will begin in early 2025.
We are also turning our minds to a second phase of works to cover the west end of the North Wing and
the basement areas, including archives which are not within the scope of this current project. The Henry
Vlll Gatehouse may be included in this second phase depending on the outcome of ongoing discussions
with agents over lettlng of the building as offices.
13

St Bartholomew's Heritage
Trustees, report Icontinuedl
Year ended 30 April 2024
Statement of trustees, responsibilities
The trustees (who are also directors of St Bartholomew's Heritage for the purposes of company lawl are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application
of resources, including the income and expenditure, of the charitable company for that period. In preparing
these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP IFRS 1021;
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the trustees are aware;
there is no relevant audit information of which the charitable company's auditor is unaware: and
the trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's webslte. Legislation in the United Kingdom governing the reparation
and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 ot the Companies Act
2006 relating to small companies.
This report was approved by the board of trustees on
24 October
2024 and signed on its behalf by:
Clare Maurice
Chalrman and Trustee

St Bartholomew's Heritage
Independent audltor's report to the member5 of St Bartholomew's Heritage
Year ended 30 April 2024
Opinlon
We have audited the financial statements of St Bartholomew's Heritage for the year ended 30 April 2024
which comprise statement of financial activities, balance sheet, statement of cash flows and notes to the
financial statements. including significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the charitable company's state of affairs as at 30 April 2024 and of its
incoming resources and application of resources, including its income and expenditure, for the year
then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared In accordance with the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufticient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements15 appropriate.
Based on the work we have performed, we have not identif led any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
other Informatlon
The other information comprises the information included in the annual report, other than the f inancial
statements and our auditor's report thereon. The trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit
or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are requlred to determine whether this gives rise to a material misstatement in
15

St Bartholomew's Heritage
Independent auditor's report to the members of St Bartholomew's Heritage
Year ended 30 Aprll 2024
the financial statements themselves. If, based on the work we have performed. we conclude that there is a
material misstatement of this other information we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Annual Report which includes the Directors, Report for the
financial year for which the financial statements are prepared is consistent with the financial
statements; and
the Trustees, Annual Report which includes the Directors, Report has been prepared in accordance
with applicable legal requirements.
Matters on whlch we are requlred to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identified material misstatements in the Trustees, Annual Report.
We have nothing to report in respect ofthe following matters where the Companies Act 2006 requires us to
report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit,. or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and to take advantage of the small companies exemption in preparing the
Trustees, Annual Report and from the requirement to prepare a Strategic Report.
Responsibllltles of trustees
As explained more f ully in the Trustees, Responsibilities Statement set out on page 14, the trustees (who are
also directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view. and for
such internal control as the trustees determine is necessary to enable the preparation of financial
statements that are tree from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative to do so.
16

St Bartholomew's Heritage
Independent audltor's report to the members of St Bartholomew's Heritage
Year ended 30 April 2024
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with
regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists.
Misstatements can arise f rom fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material mlsstatements in respect of
irregularities, including fraud. The specific procedure5 for this engagement and the extent to which these
are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities..
We assessed the susceptibility of the charitable company's f inancial statements to material misstatement
and how fraud might occur, including through discussions with the trustees, discussions within our audit
team planning meeting, updating our record of internal controls and ensuring these controls operated as
intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the f inancial
statements. We identified laws and regulations that are of significance in the context of the charitable
company by discussions with trustees and updating our understanding of the sector in which the charitable
company operates.
Laws and regulations of direct significance in the context of the charitable company include The Companies
Act 2006, and guidance issued by the Charity Commission for England and Wales.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on
the related financial statement items including a review of financial statement disclosures. We reviewed the
charitable company's records of breaches of laws and regulations, minutes of meetings and correspondence
with relevant authorities to identify potential material misstatements arising. We discussed the charitable
company'5 policies and procedures for compllance with laws and regulations with members of management
responsible for compliance.
During the planning meeting with the audit team. the engagement partner drew attention to the key areas
whlch might involve non-compliance with laws and regulations or fraud. We enquired of management
whether they were aware of any instances of non-compliance with laws and regulations or knowledge of
any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of
controls by testing the appropriateness of journal entries and identifying any significant transactions that
were unusual or outside the normal course of business. We assessed whether judgements made in making
accounting estimates gave rise to a possible indication of management bias. At the completion stage of the
audit, the engagement partner's review included ensuring that the team had approached their work with
appropriate professional scepticism and thus the capacity to identify non-compliance with laws and
regulations and fraud.
17

St Bartholomew's Heritage
Independent audltor's report to the members of St Bartholomew's Heritage
Year ended 30 April 2024
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.
A further description of our responsibilities is available on the Financial Reporting Council'5 website at..
. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company'5 members those matters we are required to state to them in an auditor's report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's members as a body, for our audit
work, for this report, or forthe opinions we have formed.
ILL. 16Li
Helen ihiilkie (Senior Statutory Auditorj
for and on behalf of Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Statutory Auditors
Date: 12 November 2024
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
18

St Bartholomew's Heritage
Statement of financial activltles {Incorporatlng the income and expenditure account}
For the year ended 30 April 2024
Unrestrlcted
Funds
Restrlcted
Fund5
Total
2024
Unrestricted
Funds
Restricted
Funds
Total
2023
Notes
Income from..
Donations and
legacies
Other trading
activities
Investments
224,076
1,328,936
1,553,012
290,042
1,564,414
1,854,456
31,067
31,067
37,388
37,388
15,869
271,012
15,869
1,599,948
3,761
3,761
1,895,605
Total income
1,328,936
331,191
1,564,414
Expenditure on..
Raising Funds
Charitable
activities
20,006
43,156
63,162
9,179
56,290
65,469
690,344
3,750
694,094
280,154
524,140
804,294
Total expendlture
710,350
46,906
757,256
289,333
580,430
869,763
Net income /
lexpendlturel
Transfers
between fund5
Net movement in
funds
1439,3381
1,282,030
842,692
41,858
983,984
1,025,842
1,566,144
11,566,144)
1,126,806
1284,1141
842,692
41,858
983,984
1,025,842
Reconciliation of
funds.,
Total funds
brought forwards
Total funds
carried forward
407,326
989,793
1,397,119
365,468
5,809
371,277
1,534,132
705,679
2,239,811
407,326
989,793
1,397,119
The notes on pages 22 to 33 form part of these financial statements.
The statement of financial activities contains all recognised gains and losses for the f inanclal year.
The results for the year all relate to continuing activities.
19

St Bartholornew's Heritage
Balance Sheet
As at 30 Aprll 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investments
1,566,144
6b
CURRENT ASSETS
Debtors
Cash at bank
543,567
1,116,287
1,659,854
237,662
1,244,989
1,482,651
CREDITORS: Amount% falling due
withln one year
8a
1666,1881
185,5321
NET CURRENT ASSETS
993,666
1,397,119
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,559,811
1,397,119
CREDITORS.. Amounts falllng due
alter more than one year
Bb
1320,0001
TOTAL NET ASSETS
2,239,811
1,397,119
FUNDS
INCOME FUNDS
Unrestricted Income funds
Restricted Funds
TOTAL INCOME FUNDS
1,534,132
705,679
2,239,811
407.326
989,793
1,397,119
These f inancial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companles, re8ime.
The financial statements were approved by the trustees on
24 October
.2024 and signed on their behalf by..
Clare Maurice
Trustee
Company number 10097955
The notes on pages 22 to 33 form parl of these financial statements.
20

St Bartholomew's Heritage
Statement of Cash Flows
For the year ended 30 April 2024
2024
2023
Notes
Cash flows from operating activities..
Net cash provided by operating activities
954,935
923,626
Cash flows from investing activities:
Interest income
15,869
3,761
Purchase of investment in subsidiary
iii
Purchase of fixed assets
11,099,505)
Net cash lused inl provided by investing
activities
11,083,637)
3,761
IDecrease) increase in cash and cash equivalents in the year
1128,7021
927,387
Cash and cash equivalent5 at the beginning of the year
1,244,989
317,602
Total cash and cash equivalents at the end of the year
1,116,287
1,244,989
A. Reconciliation of net movement of income to net
cash flow from operating activities
2024
2023
Net income for the reporting period las per the
statement of financial activitiesl
Deduct interest income shown in investing activities
Ilncreasel in debtors
Increase in creditor5
842,692
115,8691
1305,9051
434,017
954,935
1,025,842
13,7611
1169,1211
70,666
923,626
Net cash provided by operating activitie5
B. Analysis of change in net funds
01 May
2023
Cash
flows
30 Apr
2024
Cash at bank and in hand
1,244,989
128,702
1,116,287
21

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Accounting policles
Accounting convention
The financial statements have been prepared in accordance with the Statement of Recommended
Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021,
the Companies Act 2006 and the Charities Act 2011.
The charity constitutes a public benefit entity as defined under FRS 102.
Various strategies have been put in place, including agreeing a reserves policy, claiming VAT ref unds
monthly, to ensure the cash position is secure. The trustees review the monthly cashflow position
to ensure there are sufficient fund5 for entirety of the project, including the £40k per year
repayment as detailed in note 11. Therefore, there are no material uncertainties about the charity's
ability to continue as a going concern for the foreseeable future lat least a year from the date these
accounts are signed). The project is due to finish in July 2025 at which point the charity will
transition to operational activitie5.
The f inancial statements are prepared in sterling, which is the functional currency of the charitv.
Monetary amounts in these financial statements are rounded to the nearest £.
Consolidated accounts with the trading subsidiary have not been prepared because the subsidiary
is dormant.
Members
The charity is a company limited by guarantee and has no share capital. In the event of the charity
being wound up, the liability in respect of the guarantee is £1 per member of the charity. At 30
April 2024, the total of such guarantees was £112023.. £11.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions
attached to the itemlsl of income have been met, it is probable that the income will be received
and the amount can be measured reliably.
Donation income is recognised in the year in which the charity is entitled to receipt and the amount
can be measured with reasonable certainty.
Grant income is recognised when the charity has entitlement to the funds, any performance
conditions attached to these grants have been met, it is probable that the income will be received,
and the amount can be measured reliably.
Where services are provided to the charity on a pro bono basis, the estimate value is treated as
income, with an equal and opp051te figure included within expenditure.
Expenditure
22

St Bartholomew's Heritage
Notes to the financial statement5
Year ended 30 April 2024
Expenditure is recognised on an accruals basis once there is a legal or constructive obligation to
make a payment to a third party, it is probable that settlement will be required, and the amount of
the obligatlon can be measured reliably.
Where possible, all costs are directly attributed to an expense category. Staff costs relating to the
capital project have been included with the cost of the assets under construction. The balance of
staff costs are shown in charitable activities because there is no significant fundraising element
relating to fundraislng. Governance costs include the audit fees, accountancy fees, legal fees and
trustee expenses- see note 5,
Tangible Fixed Assets and Depreciation
Tangible fixed assets are held at costldeemed cost less accumulated depreciation, less any
impairment where applicable.
All assets costing more than £1,000 are capitalised.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual
value, over their useful life, on a straight-line basis. The useful life used is..
Assets under construction
Not depreciated until they are brought into use
Investment In Subsldiary
The charity owns a £1 share IIOO/I of the trading subsidiary Barts Heritage Trading Ltd, Company
number 15408608, registered in England and Wales. The investment is shown at cost. This company
is currently dormant.
Taxation
St Bartholomew's Heritage is a registered charity and as such is not liable to corporation tax on its
income derived wholly from and applied to its charitable activities.
The charity is registered for VAT and income and expenditure are shown exclusive of VAT unless it
is irrecoverable, in which case it is included.
Funds
Unrestricted funds are donations and other income receivable or generated for the objects of the
charity without specified purpose.
Restricted funds are f unds that can only be used for particular purposes within the objects of the
charity. Restrictions arise when specified by the donor.
Financial instruments
The charity only has financial instruments and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instrument5 are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method. The charity does
not currently have any bank loans.
23

St Bartholomew'5 Heritage
Notes to the financial statements
Year ended 30 April 2024
i.io
Judgements and estimates
In the application of the accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from
these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
The trustees consider that there are no significant judgements or estimates in these accounts.
24

St Bartholomew's Heritage
Note5 to the financial statements
Year ended 30 April 2024
Income from donations and legacies
Unrestrlcted
Restrlcted
Total
Funds
2024
Total
Funds
2023
Unrestrlcted
Restricted
Donations from
individuals and
corporations
Donations from
Trusts and
Foundations
Friends,
membership
donations
52,222
53,750
105,972
129,622
538,000
667,622
160,254
1,275,186
1,435,440
150,000
1,026.414
1,176,414
11,600
11,600
10,420
10,420
224,076
1,328,936
1,553,012
290,042
1,564,414
1,854,456
Income from other trading activities
Unrestrlrted
and Total
Funds
2024
Unrestrlcted
and Total
Funds
2023
900th Anniversary
Lectures and events
Patrons, events
Other
650
24,420
8,068
4,875
25
21.809
1,500
7,108
31,067
37,388
Cost5 of ralsing funds
Unrestrlcted
Restricted
Total
Funds
2024
Total
Funds
2023
Unrestricted
Restricted
Fundraising services
Printing costs
Marketing costs
Event costs
7,508
4,950
3,722
3,826
20,006
42,900
50,408
4,950
3,978
3,826
63,162
1,143
56,290
57,433
256
779
7,257
9,179
779
7,257
65,469
43,156
56,290
25

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Expendlture on charitable actlvltles
Unrestricted
Restricted
Total
Fund5
2024
Unrestricted
Restricted
Total
Funds
2023
Design and project
development
Professional fees
Staff costs
Enabling works - see
note 8
Office and sundry
costs
Governance and
accountancy costs
Total charitable
activities
5,020
5,020
11,039
306,248
317,287
84,721
138,430
3,750
88,471
138,430
87,859
134,941
210,490
298,349
134,941
400,000
400,000
25,523
25,523
19,956
2,532
22,488
36,650
36,650
26,359
4,870
31,229
690,344
3,750
694,094
280,154
524,140
804,294
Breakdown of staffing cost5:
2024
2023
Wages
Social security costs
Pension contributions
136,321
10.185
4,833
151,339
112,909}
138,430
119,905
10,536
4,500
134,941
Less: capitali5ed staff costs
134,941
During the year, the average number of employees was two12023: one). One employee received
total benefits within the £90,000 to £IOO,000 band12023'. £110,000 to £120,000).
The charity operates a defined contribution pension scheme.
26

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Breakdown of governance, legal and accountancy costs:
Unrestricted
and Total
Funds
2024
Unrestricted
Restricted
Total Funds
2023
Audit fee
Accountancy fees
Legal fees
Trustee expenses
12,950
11.196
12,454
50
12,950
7.602
5,807
12,950
7,602
10,677
4,870
36,650
26,359
4,870
31,229
Legal fees relating to governance cost5 are shown in table above.
No trustee received any remuneration during the period12023.. £nill. One trustee was reimbursed
£50 for expenditure incurred on behalf of the Trust 12023: £nill. The trustees and the Chief
Executive Olficer ICEOI are considered to be the key management personnel of the charity. The
total employee benefits of the CEO for the period were £116,54512023.' £131,838).
Office space is provided by St Bartholomew's Hospital. The value of this gift in kind 15 considered
to be de minimis and therefore is not brought in to these accounts.
6a.
Tangible fixed assets
Assets Under
Construction
COST
At l May 2023
Additions
At 30 April 2024
1,566,144
1,566,144
DEPRECIATION
At l May 2023
Charge forthe year
At 30 April 2024
NET BOOK VALUE
At 30 April 2024
At 30 April 2023
1,566,144
The fixed asset additions relate to ongoing restoration works to the Great Hall, described in more
detail in the Trustees, Report.
27

St 8artholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
6b.
Investments
The charity purchased a £1 share IIOOOA of the share capital) of Barts Heritage Trading Limited. Barts
Heritage Trading Limited has been dormant since its incorporation on 12 January 2024. Its
registered number 15 15408608.
Debtors
2024
2023
Trade debtors
40
21,600
32,658
VAT repayment from HMRC
Taxation and social security
Prepayments
Other debtors
187,983
1,862
1,149
182,255
353,682
543,567
237,662
Other debtors relate to Gift Aid due from HMRC and one instalment of the National Lottery Heritage
grant, and one donation received in early May 2024 that had been agreed prior to the year end.
Credltors: amount5 falling due withln one year
2024
2023
Trade creditors
Taxation and social security
Other creditors
Accruals
564,481
49,129
3,247
40,500
61,207
666,188
33.156
85,532
8b.
Creditors: amounts falling due after more than one year
2024
2023
Enabling works - 2-5 years
> 5 years
160,000
160,000
320,000
Enablin
works
£400,000 was agreed to be paid to Barts N HS Trust to cover the cost of work previously
undertaken by the NHS Trust (the enabling worksl to enable the charity to commence the project.
This will be paid as £40,000 per year, starting from the 2023-24 financial year and for the next 9
year5.
28

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Commitment5
2024
2023
Capital commitment
3,823,858
This is the balance of the capital works contract with the main contractor.
io.
Operating lease
There is an operating lease commitment with Barts NHS Trust at a peppercorn rent. Subject to
clause 39.2 of our lease Barts Heritage may terminate its Lease at any time following the issue of
the Practical Completion Statement a5 def ined in and issued in accordance with the Agreement for
Lease by serving a Break Notice on the Landlord at least twelve months before the Break Date,
ii.
Movement on funds
Current year
Balance at
IMay23
Balance at
30 Apr 24
Income
Expenditure
Transfers
Unrestricted funds
Designated funds:
Fixed asset fund
407.326
271,012
1710,3501
132,0121
1,566,144
1,566,144
1,566,144
1,534,132
407,326
271,012
1710,3501
Balance at
IMay23
Balance at
30 Apr 24
Income
Expendlture
Transfers
Restricted funds
Restoration project
Main project (funded by National
Lottery Heritage Fund)
Main project (Matched funding)
Community activities program
Ifunded by CIL Neighbourhood
Fundl
Restoration of the Charter Window
(funded by League of Nurses)
Paul Mellon Centre
114,920)
855,578
146,6931
1793,9651
1772,1791
890,150
356,750
474,721
108,500
108,500
217,000
5,850
8,108
13,958
213
12131
1,004,713
1,328,936
146,9061
11,566,144)
705,679
Unrestricted general funds are in deficit at the year end because of the amounts payable by the
charity, £400,000 in relation to enabling works (see note 81. This will be paid in 10 £40,000
instalments, starting in the current year. Payment of the f uture years is costed into the budget.
29

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Deslgnated Fixed asset fund
To fund the depreciation in future years of the assets currently under construction. This
represents the net book value of fixed assets at 30 April 2024.
Restricted fund5
th
The Restoration project is restoring the historic buildings dating back to the 18 and 19
centuries, including the Grade I listed Henry Vlll Gatehouse and North Wing. Within this project
there is matched funding whlch can be used to fund any part of the project. There are also the
following donations and grants which have more specific restrictions..
th
National Lottery Heritage Fund
Covid related support grant to assist the charity with the development of the restoration
project.
Paul Mellon
To support the development of a conservation scheme for the North Wing.
CIL Neighbourhood Fund
To fund the community activities programme.
League of Nurses
To fund the restoration of the Charter Window.
The transfer from the restricted funds to the Fixed asset funds represents the capital expenditure
on the Assets under construction.
30

St Bartholomew's Heritage
Notes to the financial statements
Year ended 30 April 2024
Prevlou5 year
Balance at
IMay22
Income
Expenditure
Transfers
Balance at
30 Apr 23
Unrestricted funds
365,468
331,191
1289,3331
407,326
365,468
331,191
1289,3331
407,326
Balance at
IMay22
Income
Expenditure
Transfers
Balance at
30 Apr 23
Restricted funds
Restoration project
Main project (funded by
National Lottery Heritage
Fundl
Main projett Imatched
funding)
Community activitie5
program Ifunded by CIL
Neighbourhood Fund)
Restoratlon of the charter
Window Ifunded by League
of Nursesl
Paul Mellon Centre
5,596
460,064
1480,5801
{14,9201
990,000
{99,8501
890,150
108,500
108,500
5,850
5,850
213
213
5,809
1,564,414
1580,4301
989,793
31

St Bartholomew's Heritage
Notes to the flnanclal statements
Year ended 30 April 2024
12.
Analysis of net assets by fund..
Net current
assets /
liablllties
Current year
Tangible
fixed assets
Total
Unrestricted income funds
1,566,144
132,0121
1,534,132
Restricted income funds
Main project (Matched
funding)
Community activities program
(funded by CIL
Neighbourhood Fund)
Restoration of the Charter
Window (funded by League of
Nurses)
Restricted income funds
474,721
474,721
217,000
217,000
13,958
13,958
705,679
705,679
1,566,144
673,667
2,239,811
32

St Bartholomew's Heritage
Notes to the financlal statements
Year ended 30 April 2024
Net current
assets /
labilities
Previous year
Total
Unrestricted income funds
407,326
407,326
Restricted
Restoration project
Main project (funded by
National Lottery Heritage
Fund)
Main project Imatched
funding)
Community activities
program Ifunded by CIL
Neighbourhood Fund)
Restoration of the Charter
Window (funded by League
of Nur5esl
Paul Mellon Centre
114,9201
114.9201
890,150
890,150
108,500
108,500
5,850
5,850
213
213
989,793
989,793
1,397,119
1,397,119
13.
Related party transactions
During the year no trustees made donations to the charity12023'. seven trustees, £3701,
A restricted grant of £20,000 towards the Restoration project was received during the year from
the Childwick Trust, where C Maurice, a trustee of thi5 charity, is also a tru5tee12023.' £120,000).
No restricted grants were received from a close family member of the Chief Executive12023'. one
grant of £50,000).
There were no other related party transactions.
33