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← Brymbo Heritage Trust

2023-12-31-accounts

Charity registration number 1174269

BRYMBO HERITAGE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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BRYMBO HERITAGE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R K Williams Mr Nicolas Amyes Mr Andrew Foster Mr Duncan Sutherland Mr Bernard Winstanley Professor Barry Thomas Charity number 1174269 Principal address Brymbo Enterprise Centre Blast Road Brymbo Wrexham LL11 5BT Independent examiner McLintocks (NW) Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9PX

BRYMBO HERITAGE TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 18

BRYMBO HERITAGE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's [governing document], the Charities Act 2011 and "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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

(a) To promote for the benefit of the public the preservation, protection and improvement of historical artefacts, structures, buildings and landscapes which are of historic or architectural importance relating to Wrexham's industrial heritage.

(b) To promote for the benefit of the public the conservation of the Brymbo Fossil Forest.

(c) To advance the education of the public in the geography, history, natural history and architecture of Brymbo and adjacent areas

(d) The promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation and in particular Brymbo by the following means:

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Significant activities

To restore Brymbo's purpose by turning a decaying underused area into a nationally recognised visitor, learning and events space, and to provide studios, apprentice workshops and office spaces for start-up businesses – together forming our primary project ‘Stori Brymbo: A 300-million-year journey’.

Our secondary project – ‘Roots to Shoots’ sees us focussing on ex-industrial green spaces, improving the community’s access to them and residents' connection with them. By these twin re-uses of our industrial and natural heritage the Trust aims to promote the social and economic regeneration of Brymbo and its surrounding areas.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

To restore Brymbo's purpose by turning a decaying underused area into a nationally recognised visitor, learning and events space, and to provide studios, apprentice workshops and office spaces for start-up businesses – together forming our primary project ‘Stori Brymbo: A 300 million year journey’.

Our secondary project – ‘Roots to Shoots’ sees us focussing on ex-industrial green spaces, improving the community’s access to them and residents connection with them. By these twin re-uses of our industrial and natural heritage the Trust aims to promote the social and economic regeneration of Brymbo and its surrounding areas.

BRYMBO HERITAGE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Significant activities and achievements against objectives

Our sixth year of activity to 31st December 2023 has continued to be focused on working to secure the legal security of the long-term lease for the land at Brymbo that underpins our objects and purpose. We have continued to build our capacity ahead of delivering the major regeneration schemes involved, and we have benefitted from the support of strategic partners in laying the foundations for successful long-term cooperation between us.

Both the Stori Brymbo project and our Roots To Shoots landscaping project are highly reliant on volunteers' and it continues to take time for those volunteers to be confident to return and support the Trust. However, volunteer numbers in increasing.

Throughout the period we have also ensured that we continue to have strong and robust governance in place and continue to build the infrastructure to support the delivery of the project.

Financial review

The financial results for the year are shown in the Statement of Financial Activities. Income for the year was £570,565 (2022: £244,653). Expenditure for the year was £690,971 (2022: £306,510). This has resulted in net deficit for the year of £120,406 (2022: £61,857).There are total unrestricted funds of £69,220 (2022: 111,376) and total restricted funds of £38,304 (2022: £116,554) at the year end, giving total funds of £107,524 (2022: £227,931).

Income has been generated through grants and donations.

Finances have principally been deployed to fund the infrastructure required to deliver Brymbo Heritage Trusts objectives and activities outlined above.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. At the year end there were no freely available reserves.

Brymbo Heritage Trust continues to work towards establishing a level of unrestricted reserves that is in line with the Charities Commission's guidance in order to safeguard the organisation, protect options for future development and to achieve the following:

Plans for future periods

Our main focus for the year ahead will be the conclusion of the legal agreements with the landowner and gaining permission to start from the National Lottery Heritage Fund. (At the time of writing this report, the trustees are delighted to say that we have secured Permission to Start and that work has started to develop the site into a major tourist attraction.)

The year ahead will also see us delivering the 7th of 8 years of the Roots to Shoots project (as part of the Wales Create Your Space program), where we will be focusing on land permissions to undertake building conservation, environmental improvement and public engagement works.

We will be consolidating and formalizing our partnerships with key public sector organizations who support and champion our work, recognizing the increasing degree of operational collaboration that is taking place to realize shared objectives.

We will further strengthen our organizational resilience by looking at Trustee development, board development and the potential to bring on additional Trustees during the year ahead.

BRYMBO HERITAGE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

The trust is controlled by its governing document, a deed of trust, and is registered with the Charity Commission as a Charitable Incorporated Organisation, number 1174269.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr R K Williams

Mr Nicolas Amyes Mr Andrew Foster Mr Duncan Sutherland Mr Bernard Winstanley Professor Barry Thomas

Recruitment and appointment of trustees

New Trustees may be recruited to the Board at any time by the Trustees. In selecting individuals for appointment as Trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

None of the trustees has any beneficial interest in the trust. All of the trustees are members of the trust and guarantee to contribute £1 in the event of a winding up.

Induction and training of new trustees

New trustees undergo a training process to explain to them their statutory obligations under charity and company law, the Memorandum and Articles of Association, the organisational structure and decision making process, Trustees are encouraged to attend suitable external events, where these will enhance the substance and quality of their role. All trustees, both existing and newly appointed, are required to confirm they have read and understood, the Charity Commission booklet CC3A, "The essential trustee" and CC3 "The essential trustee, what you need to know".

Related parties

Certain trustees of Brymbo Heritage Trust are also members of Brymbo Heritage Group and Directors of Brymbo Heritage Limited.

In addition, Andrew Foster is also a Trustee of Brymbo and Tanyfron Regeneration Trust (BTRT) and Director of Brymbo Developments Limited (BDL). Brymbo Heritage Trust rent office premises from BTRT and are charged support costs. BDL is the Landowner of the site being conserved and developed.

Gary Brown is also a councillor for Wrexham County Borough Council, a grant funder for the charity. See note 19 in the financial statement for further disclosure of related parties.

Organisational structure

The board of trustees, which shall number a minimum of 5 with a maximum of 12, administers the charity. The board meets at least 12 times a year.

The trustees' report was approved by the Board of Trustees.

Mr Nicolas Amyes

Trustee

3 September 2024

BRYMBO HERITAGE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRYMBO HERITAGE TRUST

I report to the trustees on my examination of the financial statements of Brymbo Heritage Trust (the trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in 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 now been withdrawn.

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

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Alastair Jeffcott FCA

McLintocks (NW) Limited

2 Hilliards Court Chester Business Park Chester Cheshire CH4 9PX

Dated: 3 September 2024

BRYMBO HERITAGE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2023
2023
2023
2022
2022
Notes
£
£
£
£
£
Income from:
Donations and legacies
2
6,275
-
6,275
124
2,643
Charitable activities
3
-
562,382
562,382
-
239,453
Other trading activities
4
1,800
-
1,800
2,433
-
Investments
5
108
-
108
-
-
Total income
8,183
562,382
570,565
2,557
242,096
Expenditure on:
Raising funds
6
-
-
-
2,381
-
Charitable activities
7
-
690,971
690,971
10,937
293,192
Total expenditure
-
690,971
690,971
13,318
293,192
Net income/(expenditure)
8,183
(128,589)
(120,406)
(10,761)
(51,096)
Transfers between
funds
(50,338)
50,338
-
(15,353)
15,353
Net movement in
funds
9
(42,155)
(78,251)
(120,406)
(26,114)
(35,743)
Reconciliation of funds:
Fund balances at 1 January
2023
111,375
116,555
227,930
137,490
152,297
Fund balances at 31
December 2023
69,220
38,304
107,524
111,376
116,554		 Total
2022
£
2,767
239,453
2,433
-
244,653
2,381
304,129
306,510
(61,857)
-
(61,857)
289,787
227,930

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BRYMBO HERITAGE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023
Notes
£
Fixed assets
Tangible assets
13
Current assets
Stocks
14
-
Debtors
15
14,196
Cash at bank and in hand
64,678
78,874
Creditors: amounts falling due within
one year
16
(173,171)
Net current (liabilities)/assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the trust
Restricted income funds
18
Unrestricted funds		 £
201,821
(94,297)
107,524
107,524
38,304
69,220
107,524		 2022
£
249
13,759
64,049
78,057
(54,897)		 £
204,770
23,160
227,930
227,930
116,554
111,376
227,930

The financial statements were approved by the trustees on 3 September 2024

Mr Nicolas Amyes

Trustee

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Brymbo Heritage Trust is a charitable incorporated organisation (CIO) registered with the Charity Commission in England and Wales. The registered number is 1174269 and the registered office is Brymbo Enterprise Centre, Blast Road, Wrexham, LL11 5BT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements not yet depreciated Plant and equipment 20% on cost Fixtures and fittings 20% on cost Computers 25% on cost Motor vehicles 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.10 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts 6,275 - 6,275 124 2,643 2,767

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Income from donations and legacies (Continued)
3 Income from charitable activities
Restricted Restricted
funds funds
2023 2022
£ £
Stori Brymbo: Revenue Projects
Performance related grants 14,663 22,461
Stori Brymbo: Capital Projects
Performance related grants 185,236 -
Roots 2 Shoots: Revenue Projects
Performance related grants 241,103 189,440
Roots 2 Shoots: Capital Projects
Performance related grants 21,380 27,552
CADW Funding
Performance related grants 100,000 -
562,382 239,453
4 Income from other trading activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising events - 2,433
Trading activity income: other 1,800 -
Other trading activities 1,800 2,433
5 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 108 -

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Expenditure on raising funds

Unrestricted Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising and publicity
Other fundraising costs - 2,381
Expenditure on charitable activities
Stori Stori Roots 2 Roots 2 CADW
Total
Brymbo: Brymbo: Shoots: Shoots: Funding
Revenue Capital Revenue Capital
Projects Projects Projects Projects
2023 2023 2023 2023 2023 2023
£ £ £ £ £ £
Direct costs
Staff costs 7,573 - 98,688 - - 106,261
Project development and
design 4,143 306,207 1,804 - - 312,154
Staff & volunteer training - - 8,086 - - 8,086
Playwork & schools
programmes - - 14,756 - - 14,756
Feasability studies - - 4,720 - - 4,720
Running costs - - 31,591 - - 31,591
Vehicle costs - - 7,321 - - 7,321
Miscellaneous costs - - 6,004 - - 6,004
Brymbo Heritage area - - - 13,360 - 13,360
Ocknall's Bridge - - - 19,200 - 19,200
Waypoints, signage etc. - - - 8,984 - 8,984
Legal fees - - - - 100,000 100,000
11,716 306,207 172,970 41,544 100,000 632,437
Share of support and governance costs (see note 8)
Support 109 27,373 26,592 387 - 54,461
Governance 82 2,145 1,555 291 - 4,073
11,907 335,725 201,117 42,222 100,000 690,971
Analysis by fund
Restricted funds 11,907 335,725 201,117 42,222 100,000 690,971
11,907 335,725 201,117 42,222 100,000 690,971

7 Expenditure on charitable activities

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Expenditure on charitable activities (Continued)
Previous year: Stori Stori Roots 2 Roots 2
Total
Brymbo: Brymbo: Shoots: Shoots:
Revenue Capital Revenue Capital
Projects Projects Projects Projects
2022 2022 2022 2022 2022
£ £ £ £ £
Direct costs
Staff costs - - 69,097 - 69,097
Depreciation and impairment 4,470 - - - 4,470
Project development and design 23,130 15,670 42,887 - 81,687
Staff & volunteer training - - 11,393 - 11,393
Playwork & schools programmes - - 13,201 - 13,201
Feasability studies - - 10,535 - 10,535
Running costs - - 19,349 - 19,349
Vehicle costs - - 7,742 - 7,742
Brymbo Heritage area - - - 2,500 2,500
Legal fees 5,400 - - - 5,400
33,000 15,670 174,204 2,500 225,374
Share of support and governance costs (see note 8)
Support 21,173 17,274 34,548 - 72,995
Governance 5,760 - - - 5,760
59,933 32,944 208,752 2,500 304,129
Analysis by fund
Unrestricted funds 10,937 - - - 10,937
Restricted funds 48,996 32,944 208,752 2,500 293,192
59,933 32,944 208,752 2,500 304,129

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Support costs allocated to activities

Staff costs
Depreciation
Software costs
Photocopier rental
Subscriptions
Legal fees
Bank charges
Governance costs
Analysed between:
Stori Brymbo: Revenue Projects
Stori Brymbo: Capital Projects
Roots 2 Shoots: Revenue Projects
Roots 2 Shoots: Capital Projects
Governance costs comprise:
Independent examiner's fees
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2023
£
49,053
2,918
1,466
108
19
695
202
4,073
58,534
191
29,518
28,147
678
58,534
2023
£
4,073
4,073
2023
£
4,073
2,918		 2022
£
69,096
-
2,500
1,399
-
-
-
5,760
78,755
26,933
17,274
34,548
-
78,755
2022
£
5,760
5,760
2022
£
5,760
4,470

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
10
2023
£
143,929
8,638
2,747
155,314		 2022
Number
9
2022
£
128,068
7,811
2,314
138,193

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The total remuneration of key management personnel during the period was £25,745.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13
Tangible fixed assets
Leasehold
improvements
Plant and
equipment
Fixtures and
fittings
Computers
£
£
£
£
Cost
At 1 January 2023
197,121
9,919
653
6,463
Disposals
-
(9,919)
(653)
(6,000)
At 31 December 2023
197,121
-
-
463
Depreciation and
impairment
At 1 January 2023
-
9,367
653
6,147
Depreciation charged in the
year
-
552
-
116
Eliminated in respect of
disposals
-
(9,919)
(653)
(6,000)
At 31 December 2023
-
-
-
263
Carrying amount
At 31 December 2023
197,121
-
-
200
At 31 December 2022
197,121
552
-
347
14
Stocks
Raw materials and consumables
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 Creditors: amounts falling due within one year

16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2023
£
32,480
118,510
9,371
12,810
173,171
2023
£
2,747		 2022
£
6,732
26,766
-
21,399
54,897
2022
£
2,314

The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Heritage Site & Roots To
Shoots
Previous year:
At 1
Heritage Site & Roots To
Shoots		 January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
116,555
562,382
(690,971)
50,338
38,304
January
2022
Incoming
resources
Resources
expended
Transfers
At 31
December
2022
£
£
£
£
£
152,297
242,096
(293,192)
15,353
116,554

Restricted funds represent funding received in advance of expenses for the running of the charity and the progression of the heritage site development.

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
111,375
8,183
-
(50,338)
69,220
January
2022
Incoming
resources
Resources
expended
Transfers
At 31
December
2022
£
£
£
£
£
137,490
2,557
(13,318)
(15,353)
111,376

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
201,821
-
Current assets/(liabilities)
(132,601)
38,304
69,220
38,304
Unrestricted
Restricted
funds
funds
2022
2022
£
£
At 31 December 2022:
Tangible assets
187,422
17,348
Current assets/(liabilities)
(76,046)
99,206
111,376
116,554		 Total
2023
£
201,821
(94,297)
107,524
Total
2022
£
204,770
23,160
227,930

BRYMBO HERITAGE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

21 Operating lease commitments

Lessee

The operating leases represent leases from third parties. The leases are negotiated over terms of 4 years.

At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
2,802
-
2,802		 2022
£
4,204
4,204
8,408

22 Related party transactions

During the year Brymbo and Tanyfron Regeneration Trust, where Andrew Foster is a trustee of both entities, invoiced £18,526 (2022: £9,901) to Brymbo Heritage Trust. At the year end £4,122 (2022: £2,660) was outstanding.

In the year Wrexham County Borough Council, where Gary Brown is a councillor, provided Brymbo Heritage Trust with £340 (2022: £4,225) of grant funding.

During the year BHL donated its accumulated surplus to Brymbro Heritage trust totalling 5,353. At the year end £3,495 was outstanding from this donation.