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** 1 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 2 **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| ||| ||| ||| ||| ||| 3 **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). 4 **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 5 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. 7 **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**| 8 **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**| ||| 9 **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. 10 **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| 11