REGISTERED COMPANY NUMBER: 09943640 (En8land and Wales) REGISTERED CHARITY NUMBER: 1167662 IEn8land and Wales) REGISTERED CHARITY NUMBER: SC047537 Iscotland) REPORT OF THE TRusfEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR HERITAGE TRUST NEfwoRK J W Hinks Chartered Accountants 19 Highfleld Road Ed8ba5ton Birmingham B15 3BH
HERITAGE TRUST NETWORK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PaBe Report of the Trustees Independent Examlner's Report Statement of Flnanclal Actlvltles Balance Sheet Notes to the Flnan¢lal Statements 9 to 19
HERITAGE TRusf NETWORK {REGISTERED NUMBER: 09943640) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companles Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffettive l January 20191. oBJEIVEs AND ACTIVITIE5 Objectives and aims The Charity'5 purposes as set out in the objects contained in the Articles of A550Ciation are to advance the educatlon of the public in the preservatlon of the historlcal. architectural and construttional heritage of the physical envlronment of the United Kingdom Through public education we support not-for-profit organisations to rescue, restore, adapt and find new uses for and manage historic building5. Structures and land5cape5. Ensurlng our work dellvers our aim5 We review our aims, objectives and activities each year. During this year the 5trateglc plan developed in the previous year was translated into an action plan for the organisation. Throughout the year the Trustees received reports from the staff team on their work and the progress towards our objectives and actions to ensure our aims were being met. We have referred to the 8uldance contained in the Charity Commlsslon's 8eneral guidance on public benefit when revlewln8 our aims and oblectlves and in plannin8 our future actlvltSes. In particular, the board consldered how planned actlvltles wlll contribute to the alms and objectives they have set. The focus of our work The focus of our work for the year contlnued to be helping our members to meet together, exchange inforrnation, learn from each other and gain access to expert help and advice. We promoted our members work and represented their Interests to Government bodies. Funders and others. Heritage Trust Network provldes publlc benefft y supporting our members and encouraging them to restore and care for historic sites we help to create newjobs, workplaces, retail and leisure facilities and visitor attractions. This helps to regenerate communitles, remove eyesores and reduce the number of historic buildings at risk. Throu8h the work of our members we help people to revitalise these local assets and en8age others In the herita8e that is important to them. ACHIEVEMENT AND PERFORMANCE Durin8 the year the Network continued to 8row its membershlp and facilitate increased networkin8 and peer-to-peer support and learning. Membership grew from 702 or8anisations and indlviduals at the beginning of the year to 841 at the end, The diversity of members a150 grew with many more community organisations located in historic buildings joining us. The Network's income grew significantlytr mainly due to a large increase in grant income, but there were also significant increa5e5 in membership, events and sponsorshlp income. The Network continued to work in partnerships with other significant or8anisation5 in the sector. The Architectural Heritage Fund remain key partners and both team5 continue to collaborate in support of member5 across the UK. We work closely with the National Lottery Heritage Fund, not just as funders of our biggest projects, but also responding to sector need5 that their staff have identified, such as throu8h our outreach projett. and inviting their staff on national committees and our conference steering group. Relationships were stren8thened with Historic En8land and Historic Environment Scotland while Cadw and Department for Communities (Northern Ireland) were engaged more closely with the Network's work. In Scotland we have partnered with Scottlsh Historlc Churches Trust and Churches Conservation Trust for our work with communities taking ownership of churches and we are active members of the Make Your Mark volunteerin8 initiatlve. We have involved Locality and the Audience Agency to help us deliver our work. The NeOrk provided support to members through theyear by.. Providing on-dernand advice and supportto members, where appropriate linkingthemto other members who havefaced similar challenge5 or other sources of expertise. Page I
HERITAGE TRUST NETWORK (REGISTERED NUMBER: 09943640) REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE- Continued Developing and expanding our Toolkit of resources to support members with a wide range of issues facing their organisations and the Talent Bank of recommended professional experts. Working with volunteers and partners throughout the UK'S to organise networking and peer-learning events both online and in person. There were over 1,300 attendances at Network events. The successful Network annual conference held in Newcastle/Gateshead showcasing community heritage in North East England and allowing delegates to visit a wide range of historic sites and projects around the city. It wa5 attended by 217 people. Representing members, interests to the UK and devolved Governments, funders and other Stakeholders. During the year the Network continued to undertake short polls of members and participate more in the activities of the Heritage Alliance to influence the Government policy regarding England, the Built Environment Forum Scotland, Wale5 and Northern Ireland the Network's committees engaged with the devolved Governments. The Network's Youth Forum continued to meet, bringing together young professionals and students in the heritage Sector. The reputation of the Forum continues to grow. A highlight was their take-over of Historic England's online discussion platform which had the most en8a8ement ever durln8 that day. Essentlal Networks During the year the development phase of this National Lottery Herlta8e Fund project was completed. The project enabled us to engage expert consultants to review the Network's activitie5 and 5V5tems. to test new setvices and activities and to develop new strategic plan. Communlty Herltage Thi5 funding from Historic England supported the employment of the Network's Chief Executive and Membership Officer to ensure the delivery of activity and member 5UPPOrt in England. This was the second of three year5 for this project. Hlgh Streets Events In 2023-24 a series of High Street regeneration events throughout the UK was delivered independently by the Network. Good attendances were achieved and engagement from local authorities was strong. Dlgital Heroes This project began at the beginnlng of March 2022 and launched a new stream of digital volunteering by linking young people with a small and medlum-sized heritage organisations in need of hands-on support with digital. This project came to an end durin8 thi5 year but the activity was incorporated into our mainstream work. Scotland This was the first year Historic Environmental Scotland funded us dlrectly for the Work of the Development Officer for Scotland and a heritage trainee for Scotland. This has expanded the support we offer to members in Scotland, organising events and providing them with advice and signposting support. At Historic Environment Scotland's suggestion, we successfully applled for fundin8 to extend the traineeships from 6 to 12 Months. The Network, workin8 With partner or8anisations, continued to bring tO8ether, and produce resources for, communities worklng ro secure the future of our churches. Wales & Northern Ireland Funding was received from Cadwto support work in Wales and sponsorshipfrom the Departmentfor Communitles to support work in Northern Ireland. Governance Lorraine Bell Left the board after serving the maximurn 5ix- year term. Emma Berry was recruited to replaced her as Trustee for Scotland. Page 2
HERITAGE TRUST NETWORK (REGISTERED NUMBER: 09943640) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE- Contlnued Volunteers We would also like to record thanks to the large number of volunteers who make a significant contribution to the Network. This includes the board of dirertors, members of national committees in England, Northern Ireland, Scotland and Wales. the Youth Forum and the Network Development Group that helped support the Essential Networks project, member across the UK who help to organise and facilitate meetings and contribute to discussions. Most member organisations are either volunteer-run or volunteers play a significant role. Support from the Network enables these organisations to be more effective in achieving their aims and objectives, meanin8 that the volunteers develop the skills and capacity to make a difference within their communities. FINANCIAL REVIEW Financial posltlon The Statement of Flnanclal Activlties for the year ended 31 March 2024 shows incoming resources of £462.431 12023 £378,091) and resources expended of £453,10512023- £368,236), generating an excess of Income over totalling £9,32612024 £9,855). As a result, Herltage Trust Network's net assets have increased from £117,035 as at 31 March 2023 to £126,361 as at 31 March 2024, The reserves are primarily to deal wlrh unforeseen contingencles and to invest in developln8 future activitles. Reserves pollcy In determining the level of reserves the Company requires, the trustee5 have considered guidance from the Charity Commission. Thls covers unforeseen emergencies, contingencies, costs for a period following loss of income, planned Investment and provision for cashflow. In our opinion, while our current level of reserves does not give cause for concern, we need to continue to build our reserves to be fully compliant with this guidance. As at March 2024, Heritage Trust Network had unrestricted reserves of £112,881. These would ensure continued operation of the Charity at full level for 3 months or at basic level for 12 months. Golng concern The financial statement5 have been prepared on a going concern basis as the trustees believe that no materlal uncertaintie5 exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financlal statement5. The expected level of income and expenditure 15 sufficlent with the level of reserves for the charity to be able to continue a5 a going concern. STRUCTURE, GOVERNANCE AND MANAGEMENT Governln8 document Heritage Trust Network is a company limited by guarantee in England and Wales Ire8lStered number 099436401 which was incorporated on 11 January 2016 and achieved charitable status in England and Wales on 15 June 2016 Iregi5tered number 11676621 and in Scotland on 28 June 2017 Ire815tered number SC0475371. Heritage Trust Network was established under a Memorandum of Association and the objects, power5 and procedures for governance of Heritage Trust Network are set out in its Articles of A550ciation. In the event of Herita8e Trust Network bein8 wound up members are required to contribute an amount not exceeding £1. Reciuitrnent and appolntment of new trustees As set out in Heritage Trust Network'5 Articles of Association, new trustees are appointed by the Board of Trustees after applyin8 to Heritage Trust Network in the form required by the trustee5 and after being approved by the Board of Trustees. All trustee5 give their time voluntarily and receive no benefit5 from Heritage Trust Network. Any expenses reclaimed from Heritage Trust Network are set out in the notes to the financial statements. Page 3
HERITAGE TRUST NETWORK (REGISTERED NUMBER: 09943640) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Risk management The trustees have a duty to identlfy and review the risks to which the charlty Is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have examined the major strategic, business and operational risks that the charlty faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 09943640 (England and Wales) Re8lstered Charlty number 1167662 (England and Wales) SC047537 Iscotlandl Re8lstered offlee Coffin Works 13-15 Fleet Street Birmingham, West Mldlands B3 IJP Trustees Jeremyjohn Fenn Loraine Bell Hopwood DePree Adam L J Hltchings Martin D Hulse Lisa Antonia Brausem George Alan Clarke Mlchael Robert Guv Alice Jane Ullathorne Manminder KaurAthwal Fleur Elkerton Karen Hazel Rushbv Emma Louise Rose Berry Chairperson Resigned 30 November 2023 Appointed 8 December 2023 Secretary David fittle Independent Examlner P E Smlth ACA J W Hinks Chartered Accountants 19 Highfield Road. Edgbaston Birmingham, 815 3BH Bankers Natwest Bank plc I St Phillp's Place Bimiingham, 83 2PT Approved by order of the board of trustee5 0 cember 2024 and signed on it5 behalf by: Jeremy John Fenn - Chairperso Page 4
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF HERITAGE TRUST NETWORK Independent examiner's report to the trnstees of Heritage Trust Network ('the Company,) I reportto the charity trustees on my examination of the accounts of the Companyfor the year ended 31 March 2024. Responslbllities and basis of report As the charity's trustees of the Company {and also its dlrectors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requlrements of the Companies Act 21XJ61'the 26 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carryin8 Out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Art. Independent examlner's ststement Slnce your charltws gross income exceeded £250,000 your examlner must be a member of a listed body. I can confirm that I am quallfled to undertake the examlnatlon because l am a reglstered member of ICAEW which is one of the listed bodies. I have completed my examination. I conflrm that no matters have come to my attentlon Sn connection with the examlnation glvlng me cause to believe: accounting records were not kept in respect of the Company as required by sertlon 386 of the 2006 Act; or the accounts do not accord with those record5: or the account5 do not comply with the accountlng requirements of sectlon 396 of the 2006 Att other than anv requirement that the accounts 8ive a true and fair vlew which is not a matter considered as part of an independent examination,. or the account5 have not been prepared in accordance wlth the methods and prlnciple5 of the Statement of Recommended Practice for accounting and reporting by charitie5 lappllcable to charlties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come acr055 no other matters in connection with the examination to which attention Should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. P E Smith ACA Chartered Accountant J W Hinks Chartered Accountants 19 Hl8hfield Road Edgbaston Birmingham 815 3BH 12 December 2024 Page 5
HERITAGE TRusf NETWORK STATEMENT OF FINANCIAL ACtivtriES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Charltsble actlvltles Grants receivable 7.595 360,258 367,853 293,562 Other tradlng actlvities 94,578 94,578 84,529 Total 102,173 360,258 462N31 378,091 EXPENDITLIRE ON Charltable a¢tl¥ltles Grants Dlrect costs Support costs 41516 4,500 308,340 47,418 4,500 379,552 69,053 71,212 21,635 316,782 51,454 Total 92,847 360,258 453.105 368,236 NET INCOME 9,326 9,326 9,855 RECONCIUATION OF FUNDS Total funds brought forward 117,035 117.035 107,180 TOTAL FUNDS CARRIED FORWARD 126,361 126,361 117,035 The note5 form part of these financial statements Page 6
HERITAGE TRUST NEfwoRK (REGISTERED NUMBER: 09943640) BALANCE SHEET 31 MARCH 2024 2024 2023 Notes FIXED ASSErs Tangible assets 12 1,922 2,015 CURRENT ASSETS Debtors and accrued income Cash at bank 13 93,168 79,928 69,089 116,223 173.096 185,312 CREDITORS AND DEFERRED INCOME Amounts falling due within one year 14 {48,657) 170.2921 NET CURRENT ASSErs 124,439 115,020 TOTAL ASSETS LESS CURRENT LIABILITIES 126,361 117,035 ASSET511LIABILITIES) 126,361 117,035 FUNDS Unre5trlcted funds General Fund 16 126,361 117,035 TOTAL FUNDS 126,361 117,035 The charltable company is entltled to exemption from audlt under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audlt of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companles Act 2006. The trustees acknowledge their respon51billties for ensurin8 that the charitable company keeps accountlng records that comply with Sectlons 386 and 387 of the Companies Act 2006 and preparing f inancial statements which give a true and falr vlew of the state of affalrs of the charitable company as at the end of each financial year and of Its surplus or deficit for each financial year In accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relatin8 to flnanciol statements, so far as applicable to the charitable companv. Ibl The notes form part of these financial statements Page 7 continued...
HERITAGE TRUST NETWORK (REGISTERED NUMBER: 09943640) BALANCE SHEET- Continued 31 MARCH 2024 These financial Statements have been prepared in accordance with the provislons applicable to charitable companles subjett to the small companies regime. The finoncial Statements were approved by the Board of Trustees and authori5ed for issue on 12 December 2024 and were Sl8ned on its behalf by: Jeremy John Fenn - Chairperson The notes form part of these financial statements Page 8
HERITAGE TRusf NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENT5 General informatlon Heritage Trust Network is a private company limited by guarantee registered in England and Wales Iregi5tered company number 099436401 and is registered as a charity in England and Wales Iregistered charity n umber 11676621 and a5 a charity in Scotland Ire8lStered charity number SC0475371. The address of Heritage Trust Network's registered office 15 Coffin Works, 13 15 Fleet Street, Birmingham, West Midlands, 83 IJP. Accountlng conventlon The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance wlth the Charities SORP IFRS 1021 "Accounting and Reporting by Choritles.. Statement of Recommended Practice appllcable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (effective l January 20191 Financial Reporting Standard 102 The Finaftclal Reportlng Standard appllcable in the UK and Republic of Ireland the Cornpanie5 Act 2006 and the Charities Act 2011, The financial statements have been prepared usln8 the historlc cost convention and are presented in sterllng whlch is the functlonal currency of the charlty, rounded to the nearest £1. The significant accounting policies applied In the preparation of these flnancial statements are set out below. These pollcie5 have been consistently applled to all years presented unless otherwise Stated. Cofflpany status Heritage Trust Network is a company limlted by guarantee. In the event of Heritage Trust Network being wound up the liability in respect of the guarantee Is limited to £1 per member of Herita8e Trust Network. Golng concern The financial statements have been prepared on a 80in8 concern basis as the trustees belleve that no materSal uncertaintles exlst. The trustees have considered the level of funds held and the expected level of Income and expenditure for 12 months from authorislng these financial statements. The expected level of income and expenditure Is sufficient with the level of reserves for the charity to be able to contlnue as a going concern, FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS The charitable cornpany has taken advantage of the following disc105ure exemptions In preparin8 these flnanclal statement5, as perrnitted by FRS 102 'The Financial Reporting Standard applicable in the U K and Republic of Ireland,: the requirements of Settion 7 Statement of Cash Flows,. the requirement of Sectlon 3 Financial Statement Presentation paragraph 3.17ldl,' the requirements of Section 11 Financial Instruments paragraphs 11.41lbl, 11.41lcl, 11.41lel, 11.41lfl, 11.42. 11.44, 11.45, 11.47, 11.481alliiil, 11.48lallivl, 11.48lbl and 11.48lcl; the requirement5 of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29lal, 12.29lbl and 12.29A. INCOME All Income is recognlsed in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Income from trading activities Includes income earned from membership subscriptions and trading activities to raise funds for the charity. Incorne is received in exchange for Supplying goods and services in order to raise funds and is recognised when entitlement ha5 occurred. Page 9 continued...
HERITAGE TRUST NETWORK NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued INCOME The charity receives grants from other third parties in respect of its activltles. Income from grants from other third parties is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the Income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and ha5 been classified under heading5 that aggregate all cost related to the cate80ry. Where costs cannot be directly attributed to particular headin8S they have been allocated to activities on a basis con515tent with the use of resources. Expendlture Is cate8orised under the following headlngs. o Expenditure on charitable activities. o Other expenditure representing those items not fallln8 Into the above categories. Support costs are those that assist with the work of the charity but do not directly represent charitable activlties and include offlce c05tS* governance costs and other administrative cost5. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each a55et over its estimated useful life. Fixture and fittings Computer equipment 20% on cost 33% on cost The gain or loss arlsing on the di5P05al of an asset is determlned a5 the difference between the sale proceeds and the carrying value of the asset and Is recogni5ed in net income/lexpendlturel for the year. TAXATION The charity Is exempt from corporation tax on Its charltable actlvlties. CASH AND CASH EQUIVAIENTS Cash and cash equivalents include cash in hand and deposlts held at call with banks. Bank overdrafts are shown within borrowings in current liabilities. PENSION COSTS AND OTHER POST-RETIREMENT 8ENEFITS Contributions to the personal pension scheme5 of certain employees are charged to the Statement of Financlal Activities in the period in which they relate. The asset5 of these personal pension scheme5 are held separately from those of Heritage Trust Network in independently administered fund5. EMPLOYEE BENEFIT5 When employees have rendered service to Heritage Trust Network, short-term employee benefits to which the employees are entitled are recognised at the undi5counted amount expected to be paid in exchange for that service. The cost of any unused holiday entitlement is recogni5ed in the period in which the employee'5 Services are received. Termination benefit5 are recognised immediately as an expense when Herltage Trust Network is demonstrablv comrnitted to terminate the employment of an employee or to provide termination benefits. Page 10 continued...
HERITAGE TRUST NEfwoRK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the dlscretion of the trustees. Restricted funds can only be used for particular restrirted purposes within the objerts of the charity. Restrictlons arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the note5 to the financial statements. FINANCIAL INSTRUMENTS The charlty only has financial a55ets and financial liabllities of a klnd that quallfy a5 basic flnancial instruments. Baslc financial Instruments are Inltially recognised at transaction value and subsequently measured at amortised cost. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the applicatlon of Heritage Trust Network's accountlng policies, the trustees are required to make Judgements, estlmates and assumptions about the carrylng amount of assets and liabilities that are not readily apparent from other sources. The estlmates and underlyin8 assumptions are reviewed on an on80ing ba515. Revlsions to accountlng estimates are recogni5ed in the period in whlch the estimate is revised where the revision affects only that period or in the period of the revision and future perlods where the revision affects both current and future periods. OTHER TRADING ACTIVITIES 2024 2023 Subscription fees Open Hi8h Streets Other income Conference income Other event Income 32,573 30,000 467 21,489 2,910 34,160 13,628 94,578 84,529 Page 11 continued...
HERITAGE TRusf NEfwoRK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE AcfiviTIES Grants recelved in the year were as follows: Unrestrlrted funds Restricted funds 2024 2023 Hlstorlc Environment Scotland Scotland Fund 62,433 62,333 43,333 Historic En8land - Capacity Building fund 69.026 69,026 51,440 National Lottery- Essential Networks 176,413 176,413 9,845 National Lottery Dlgital Heroes Fund 33,572 35,572 53,295 National Lottery Heritage Fund- Unlocklng the Power of Communltie5 Fund 85,772 Laverton Trust 34,063 Department for Communitle5- Northern Ireland 5,000 5.000 DWP Grant 2,595 2,595 Cadw- Wales fund 18,814 18A14 10,814 7,595 360,258 367,853 293,562 Grants paid 2024 2023 Mechanics Institute Trust- Network Academy Grant Ryde Society Middleton Hall and Gardens Splisby Sessions House Govanhill Baths Open Arms Kington Archbishop's Palace Conservation Trust In Your Space Clrcus West Midlands Historic Bullding5 Trust 500 500 500 500 500 500 500 500 500 4,500 Page 12 contlnued...
HERITAGE TRUST NETWORK NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENOED 31 MARCH 2024 DIRECT COSTS OF CHARITABLE AcfiviTIES 2023 2022 Staff costs Subcontractors Recruitment costs Web51te costs Event5 and activities Trustees, expenses Staff tralnin8 and travel 235,336 60,170 1,705 9,728 54,980 2,505 15.128 225,014 27,516 1,046 9.701 32,637 2,214 18.654 379,552 316,782 SUPPORT COSTS 2023 2023 Rent, rates and Insurance Telephone Postage and statlonery Sundrles Subscription fees Consultancy costs Depreciation of tangible flxed assets Renewal of tech Volunteer expenses Volunteer training Independent examiner'5 fee Accountancy fees Loss on sale of tanglble fixed assets 4,693 2,325 265 5,209 2,196 324 3,624 1,451 7,103 1,804 3.687 1.571 16,256 2,400 5,760 69 5,781 34,091 1,771 3,020 3,339 4,759 2,400 5,760 69,053 51,454 NEf INCOMEIIEXPENDITURE) Net Income/lexpenditurel Is stated after char8ingllcreditingl'. 2024 2023 Depreciation owned assets Loss on sale of tanglble f ixed assets 1,771 1,804 69 TRUSTEES. REMUNERATION AND BENEFITS There were no tru5tees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. TRUSTEES, EXPENSES During the year ended 31 March 2024 trustees ceiVed reimbursement of expenses incurred by participation in National Committee and Executive Committee meetings along with the representation of Heritage Trust Network on external workin8 group5 and at related events. Total relmbursed expen5e5 for the year ended 31 March 2024 amounted to £2,505.'12023- £2,214). Page 13 continued...
HERITAGE TRUST NETWORK NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2024 srAFF COSTS 2023 2023 Wages and salaries Social security costs Other pension costs 212,830 17,524 204,251 16,124 4,639 135,336 225.014 The average monthly number of employees durlng the year was as follows: 2024 2023 Management and admlnlstration No employees received emoluments In excess of £60,000. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnvmE5 Unrestricted fund Restrlcted funds Total funds INCOME AND ENDOWMENTS FROM Charltable actlvltles Grants receivable 39.063 254,499 293,562 Other tradln8 activities 84,529 84,529 Total 123.592 254,499 378,091 EXPENDMJRE ON Charltable actlvltles Direct costs Support costs 92,274 21.463 224,508 29,991 316,782 51,454 Total 113,737 254,499 368,236 NEf INCOME 9,855 9,855 RECONCILIATION OF FUNDS Total funds brought forward 107,180 107,180 TOTAL FUNDS CARRIED FORWARD 117,035 117,035 Page 14 continued...
HERITAGE TRUST NEfwoRK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENOED 31 MARCH 2024 ii. PENSION COMMITMENTS The charity contributes to the individual pension plans of certain employees. The assets of these schemes are held separately from those of the charity in independently administered fund5. The total contributions for the year amounted to £4.98212023 - £4,639) and ovt5tandlng contribution5 05 at 31 March 2024 amounted to £3.87012022 - £2,042). 12. TANGIBLE FIXED ASss Flxtures and fittings Computer equipment Totals COST At l April 2023 Additions 634 7,205 1.678 7,839 1.678 At 31 March 2024 634 8,883 9,517 DEPRECIATION At l Aprll 2023 Charge for year 634 5,190 1,771 5,824 1,771 At 31 March 2024 634 6,961 7,595 NET BOOK VALUE At 31 March 2024 1,922 1,922 At 31 March 2023 2,015 2,015 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtor5 Accrued income Prepayments 6,835 84,685 1,648 8,270 50.384 10,435 93,168 ,69,089 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Deferred income Accrued expenses 22,338 4,124 3,870 15,925 2,400 9,397 4.992 2.042 51.461 48.657 70,292 Page 15 continued...
HERITAGE TRUST NETWORK NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Fixed assets Current assets Current liabilitles 1.922 173,096 (48.657) 1.922 173,096 48,657) 2,015 185,312 170,2921 126,361 126,361 117,035 16. FUNDS Net movement In funds Transfers between funds At 31.3.24 At 1.4.23 Unrestrlrted funds General fund 117,035 9,326 126,361 TOTAL FUNDS 117,035 9,326 126,361 Net movement in funds, included in the above are as follows- Incoming resource5 Resources expended Movement in funds Unrestrlrted funds General Fund Northern Ireland Fund 96A63 5,710 187.137) 15,710) 9,326 102,173 192,8471 9,326 Restrlcted fvnds Historic England Fund Wales Fund Scotland Fund Digital Heroes Fund Essential Networks 69,026 18,814 62,433 33,572 176,413 169,026) 118,814) 162,433) 133,572) (176.413) 360.258 1360,258 TOTAL FUNDS 462,431 (453,105) 9,326 Page 16 continued...
HERITAGE TRUST NEfwoRK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS- continued Comparatlves for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestrlcted funds General Fund 107,180 9.855 117.035 TOTAL FUNDS 107,180 9,855 117,035 Comparatlve net movement in funds, included in the above are as follows: Incomlng resources Resources expended Movement n funds Unrestrlrted funds General Fund Northern Ireland Fund 118,272 5,320 1108,4171 15,3201 9,855 123,592 1113,7371 9,855 Restrirted funds Unlocking the Power of Communities Fund Historic England Wales Fund Scotland Fund Digital Heroes Fund Essential Networks 85,772 51,440 10,814 43,333 53.295 9.845 185,7721 151,4401 110,8141 143,3331 153,2951 19,8451 254,499 254,4991 TOTAL FUNDS 378,091 1368.2361 9,855 Page 17 continued...
HERITAGE TRUST NEfwoRK NOTES TO THE FINANaAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestrlrted funds General Fund 107,180 19,181 126.361 TOTAL FUNDS 107,180 19,181 126,361 A current year 12 months and prior year 12 months comblned net movement In funds, Included in the above are as follows.. Incomin8 resources Resources expended Movement In funds Unrestrlrted funds General Fund Northern Ireland Fund 214,735 11,030 1195,5541 11,0301 19,181 225,765 1206,5841 19,181 Restrlrted funds Unlocklng the Powerof Communitles Fund Historic En8land Wales Fund Scotland Fund Digital Heroes Fund 85,772 120,466 29,628 105,766 86,867 (85,7721 1120,4661 {29,6281 1105,7661 186.8671 E55ential Networks 186.258 1186,2581 614,757 614,7571 TOTAL FUNDS 840,522 821,3411 19,181 Page 18 contlnued...
HERITAGE TRUST NEfwoRK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENOED 31 MARCH 2024 16. MOVEMENT IN FUNDS- continued Purpose of unrestricted fvnds General fund This fund represents the f ree f unds of the charlty that are not designated for particular purpose5. Northern Ireland Fund This fund consists of funding received by Heritage Trust Network from the Northern Ireland Assembly Department for Communitles to help finance activities and support members in Northern Ireland. Purpose of festrlcted funds Scotland Fund This fund conslsts of funding received by Herlta8e Trust Network from Hlstorlc Envlronment Scotland vla Architettural Heritage Fund and National Trust for Scotland to finance the c05t of a development officer and other activity to support member5 In Scotland. Historic En land Fund This fund con515ts of fundin8 received by Herltage Trust Network from Hlstorlc En8land to build the chariws capaclty as a national heritage organisation In En8land by employing a chief executive officer. Unlockin he Power of Communities Ftjnd This fund consists of f unding received by Herltage Trust Network from the National Lottery Heritage Fund and the Pilgrim Trust to finance events and activities under the Unlocking the Power of Communities Project to bulld the capacity of the charity and sUPPOrting our members throughout the UK. Wales Fund This fund consists of funding received by Heritage Trust Network from Cadw to help finance activities and support members in Wales. ital H roes Fund This fund consists of funding received by Herlta8e Trust Network from the National Lottery Herltage Fund to deliver a programme of volunteeringi enabllng young people with digital skills to support members wlth dlgltal needs. Essential Network Thls fund consists of funding recelved by Herltage Trust Network from the National Lottery Heritage Fund to deliver programme of activlties and service improvements to build the capaclty of the charity and support our members throughout the UK. 17. RÉLATED PARTY D15CLOSURES There were no related party transactions for the year ended 31 March 2024. 18. ULTIMATE CONTROLLING PARTY The charity 15 controlled by the tru5tee5 as listed in the Report of the Trustees. Page 19