2024-06-30-accounts

Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Archbishops Palace Conservation Trust

Registered Charity No 1173486

Trustees’ Report and Financial Statements

Year ended 30[th] June 2024

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Registered Charity number 1173486

Contents

Charitable information ........................................................................................................................................ 3 Trustees’ Report .................................................................................................................................................. 4 Independent Examiners Examiner’s Report to the Trustees of the Archbishops Palace Conservation Trust ... 6 Statement of Financial Activities ......................................................................................................................... 8 Balance Sheet ...................................................................................................................................................... 9 Notes to the Financial Statements .................................................................................................................... 10

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Charitable information

Registered office	Chantry Cottage, The Green, Otford, Kent TN14 5PD
Bankers	Lloyds Bank, 25 Gresham Street, London, EC2V7HN
Trustees	Andrew Goymer,Chairman
	Nick Rushby,Secretary
	John Edwards-Winser
	Elizabeth Anderson
	Roger House
	Charles Shee
	Gabriella Howell(appointed 4thApril 2024)
	BethanyWalker
	Melissa Bastin(resigned 4thMarch 2024)
	Neil Williams
Independent Examiner	Keith Lawrey
Charitable Incorporated Organisation Number	Registration No 1173486

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Trustees’ Report

The Trustees present their annual report and financial statements of the charity for the year ended 30[th] June 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Charities SORP (FRS 102).

Objectives and Activities

The Trust has a lease of 99 years for the site and buildings of the Tudor Palace in Otford from Sevenoaks District Council. The Trust will engage with a wide range of people from north-west Kent and London, using the site and buildings of the Tudor Palace and the Otford Heritage Collection to promote the understanding and enjoyment of the heritage of the Darent Valley, and thus to engender their well-being through engagement with that heritage. To achieve this, we will restore the iconic buildings of the Archbishop’s Palace in Otford and create an interpretation centre that will act as a hub for further exploration.

Achievements and performance

The stabilisation project to preserve the foundation and outside structure of the Palace Tower has now been achieved, as scheduled. This major work included stonework refurbishment and replacement wooden window frames has greatly improved the appearance of the Archbishops Palace for visitors to see. Funding has been obtained for new projects, one which will give visitors historical information direct to their phones when the site is fully open. Another project, sponsored by local residents, has been to plant trees in the Palace field.

May day celebrations were held on the palace Field to help raise money for future Trust developments.

The next phase will be to reinstate missing floors, repair the roof and make the interior suitable to accommodate paying visitors so they can enjoy the site’s significant history. This will require a major funding exercise and Trustees have expended an enormous effort in putting together a comprehensive bid to the National Lottery Heritage Fund. If successful, matched funding from other sources will be necessary.

Financial review

In the year to £30[th] June 2024 over £27,000 (2023 – £52,364) has raised by the Trust. These amounts include amounts treated as restricted funds set aside for an agreed purpose. More will be needed for this ambitious project and in particular to support the National Heritage Lottery Fund with matched funding. Expenditure during the year. The Stabilisation project was finished at a cost of £145,169 (2023 -£38,060) this year slightly higher than expected but with most satisfactory results. Expenditure on other new projects this year amounted to £ 9,246. General upkeep of the Palace Field and administration of the Trust amounted to £6,866 (2023 £9,901).

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Structure, Governance and Management

The Trustee board met 4 times to review progress and future objectives through detailed papers provided by the Secretary. There have also been several open day events and working parties to help with the various aspects of achieving the Trust aims.

Reference and Administrative details

Trustee have either met online or more recently through face-to-face meetings. Trust records including financial records are maintained by the Secretary and backed up regularly.

Signed on behalf of the Board of Trustees

Andrew Goymer

Chairman

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Archblshops Palace Conservatlon Tn￿t Year ended 30 June 2024 Independent Examiners Examinerfs Report to the Trustees of the Archbishops Palace Conservation Trust (the Registered Charity, number 1173486) I report to the charlty Trustee5 on my examlnatlon of the accounts of the alarity for the year ended 30 June 2024. ftesponslblllt1•5 •nd Bas15 of the Report As the Trustees of the Charity you are responslble for the preparation of the accounts In accordance wlth the requlrements of the Charltles Att 2011 l*he 2011 Art'l. I report In respect of my examlnation of the Charlty'5 accounts carrled out under sectlon 145 of the 2011 Act and In carrylng out my examination I have followed all the applKable Dirertions 8iven by the Charity Commlsslon under sertlon 1451511bl of the 2011 Act. Ind?pend•nt Examln•rfs Stat•m•nt I have completed my examlnatlon. I conflm) no materSal matters have come to my attentlon In connertlon wlth the examlnatlon glvlng me cause to belleve that In any materlal respect the accounts do not accord wlth those records. I have no concerns and have come across no other matters in connettion with the examlnatlon to whlch attentlon should be drawn in thls report in order to enable a proper understandlng of the accounts to be reached. Slgned Name Kelth Lawrey. JP, Barrister at law. Chartered Secretsry Address 23, Tudor Cres￿nt, Otford, KenL TN14 5Q5 Date

Archbishops Palace Conservation Trust Year ended 30[th] June 2024

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Statement of Financial Activities

Incoming resources charitable activities Unrestricted grants and donations Help with Lottery Fund application Stabilisation grants Grant towards Tower flooring Info-point project Sponsor a Tree - Palace Field project Sales and May Day income Total incoming resources Outgoing resources charitable activities Consultants for design and planning Stabilisation project costs Info-point project Tower ground floor project Depreciation Otford Heritage expenses NLF Bid expenses Palace field upkeep Palace Field improvement project Insurance Tower and gatehouse costs Accounting and general office costs IT & website costs Total resources expended Net income (expenditure) for the year	Unrestricted Funds Restricted Funds Total Funds £ £ £ 7,516 - 7,516 - 5,000 5,000 - - - - 500 500 - 9,960 9,960 - 3,700 3,700 946 - 946 8,462 19,160 27,622 2,088 - 2,088 - 145,169 145,169 - 1,596 1,596 - 878 878 - 1,250 1,250 440 - 440 - 4,628 4,628 1,072 - 1,072 - 894 894 570 - 570 740 - 740 1,426 - 1,426 530 - 530 6,866 154,415 161,281 1,596 (135,255) (133,659)	2023 Total Funds £ 2,063 - 50,000 - - - 301
		52,364
		2,000 38,060 - - - 3,054 - 1,612 547 606 1,517 565
		47,961
		4,403

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Balance Sheet

Signed Nick Rushby, Secretary Dated 31st October 2024 Signed Andrew Goymer, Chairman Dated 31st October 2024 Fixed assets Current assets Cash at Lloyds bank Debtors: Accounts receivable VAT receivable Total Current Assets Less: Creditors: due in less than one year Accruals Trustee loans Receipt in advance Total current liabilities Total net current assets Total Assets less Liabilities Capital and reserves Retained earnings Current year (outgoings) earnings Total Capital and Reserves	Total Funds 2023 Total Funds
	3,750 -
	30,574 62,109 72 94,665 553 1,227
	31,199 158,001
	(1,885) (1,885) (10,000) - (607) -
	(12,492) (1,885)
	18,707 156,116
	22,457 156,116
	156,116 151,713
	(133,659) 4,403
	22,457 156,116

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

Notes to the Financial Statements

1 Accounting policies

1.1 Basis of preparation:

The financial statements have been prepared under the historical cost convention with items recognised at their cost values and under the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

1.2 Income

Income is recognised once the charity has entitlement to the income and it is probable that the income will be received and the amount of income can be measured reliably.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party and it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably.

1.4 Depreciation

Depreciation is provided at a rate calculated to write off the cost less residual value of the asset over its expected useful life. The Information asset Infopoint is computer based and has been depreciated at 25% per annum on the straight-line basis.

1.5 Fund accounting

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

2 Support costs

None of the Trustees are remunerated. Reimbursement of expenses may be made in certain circumstances. At 30[th] June 2024 one Trustee had an outstanding interest free loan of £10,000 to the Charity.

3 Fixed assets

	Total
Additions: Info-point: asset during the year	5,000
Less: Depreciation charged in year	1,250
Net book value at 30 June 2024	3,750

NOTE: The Info-point system was acquired out of restricted funds received during the year.

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Archbishops Palace Conservation Trust Year ended 30[th] June 2024

4 Statement of Funds

Unrestricted Funds Restricted Funds: Stabilisation project Tower ground floor Infopoint project Less capitalised value Palace Field project NLHF bid costs help Total funds Unrestricted Funds Restricted Funds Total funds	CURRENT YEAR Balance at 1st July 2023 Income Transfers to/ (from) Unrestricted Expenditure Balance at 30th June 2024 20,589 8,462 6,866 22,185 135,527 - - 145,169 (9,642) - 500 - 878 (378) - 9,960 - 6,596 3,364 - - (3,750) 3,750 - 3,700 - 894 2,806 - 5,000 - 4,628 372
	156,116 27,622 - 161,281 22,457
	PRIOR YEAR Balance at 1st July 2022 Income Expenditure Balance at 30th June 2023 28,126 2,364 9,901 20,589 123,587 50,000 38,060 135,527
	151,713 52,364 47,961 156,116

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