## Leatherhead & District Local History S ociety Charitable Incorporated Organisation Trustees’ Annual Report and Accounts for the year ended 31 December 2024 Charity Number 1175119 |**CONTENTS**|**PAGE**|| |---|---|---| |Trustees’ Annual Report||2 -| |4||| |Independent Examiner's report to the Executive Committee||| |5||| |Statement of Financial Activities||6| |Balance Sheet||7| |Notes to the accounts||8 -| |12||| Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Page 2 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 ## Trustees’ Annual Report ## **Charity Information** This is the seventh annual report of the Society as a Charitable Incorporated Organisation (CIO - Registered Charity 1175119) which was created as the successor to the Society as an unincorporated association (Registered Charity 802409). This report and accounts are for the period 1 January 2024 to 31 December 2024. Leatherhead & District Local History Society Charity name Charitable Incorporated Organisation Registered charity number 1175119 Leatherhead Museum 64 Church Street, Leatherhead, Surrey, KT22 Address 8DP Independent Examiner Adrian Radford ACA ## **Trustees and Executive Committee members** Unless otherwise stated Trustees served for the complete year. |Trustees|Ofce| |---|---| |John Rowley|Chairman| |John Oliver|Honorary Treasurer| |Frank Haslam|Membership Secretary| |Nigel Bond|Archaeological Secretary| |David Hawksworth|Proceedings Editor| |Peter Humphreys|Trustee & Museum Manager| |Duncan Macfarlane|Trustee & Museum Manager| |Simon Ritchie|Trustee| |Cathy Brett|Trustee & Curator| In addition, Sandy Oliver is the Society’s Newsletter Editor. The position of Society President is currently vacant. ## **Structure and management** The CIO Society was established with a Constitution that sets out how the Society shall be administered and managed. The Constitution provides that the Trustees in managing the Society are known as the Executive Committee. At every AGM of the members of the CIO, one third of the Executive Committee shall retire from office. Any person who retires as a charity trustee is eligible for reappointment. Page 3 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 The Society Executive Committee meets every two months where it reviews its activities and progress against plans. It receives reports from each Office Holder and any Sub Committees. Day to day management of the Museum and the Collection is by the Museum Managers and the Curator. The museum is operated by volunteers. ## **Objectives and activities** The Trustees have referred to the guidance issued by the Charity Commission on public benefit when reviewing the Society’s aims and objectives. In particular they have considered how planned activities will contribute to the aims and objectives set. The Society’s role is to institute, promote and encourage the study of local history in all its aspects and includes owning, maintaining and managing the archives and records of the History Society for the local parishes (Ashtead, Fetcham, Great and Little Bookham and Leatherhead) and the surrounding district. The Society is also responsible for retaining and developing the archives and records of the History Society for the benefit of future generations. The Society’s activities in fulfilling its role include: - Maintaining and developing the Leatherhead Museum, which offers free access to the public. Volunteers and Friends of the Museum help extensively with the operation of the museum. - The publication of books on local history and a regular newsletter to members. More extensive papers are also published periodically and provided to local libraries. Newsletters are available to museum visitors and via the Online Archive. - Where desirable to encourage the preservation of any site, building, monument or record of archaeological, antiquarian or historical interest in the district and to co-operate with public or private bodies or individuals in safeguarding such sites, buildings, monuments or records - Maintaining a website which provides on-line access to relevant material and an archive for members. - Holding events, including a programme of lectures, through the year. ## **Statement on the Society’s policies on Reserves and Investments** ## **Reserves** All the Society Reserves, with the exception of the instances when we receive grants or bequests for specific purposes, are Unrestricted Funds. All but the General Fund are designated funds. The Executive Committee’s view is that the reserves should provide the Society with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The Committee proposes to maintain the charity’s reserves at a level which is at least equivalent to two years operational expenditure plus it plans to secure reserves to meet its forward planning commitments and forecast risks. ## **Investments** The Executive Committee manages the investment of the Society’s cash and reserves. Page 4 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 ## The objectives are: - to generate income to assist in funding the Society’s ongoing activities  to maintain the real capital value of the investment funds in the long term Current policy is to invest shorter term cash requirements in immediately accessible interest bearing cash accounts and longer term funds in a range of Charity Official Investment Funds. ## **Financial Review** The Society has fully returned to normal operations in 2024 after the Covid restrictions. The full lecture programme was re-established in 2023 and a full programme was completed in 2024, with excellent attendance. The Society benefitted from a bequest of £5,000 from the estate of Fred Meynen, a great supporter and former trustee of the society. We received a grant from Surrey CC of £1,884 which was used to purchase a laptop and to install a new disabled access gate at the museum and a grant of £2,000 from Running Places (Mole Valley) to fund the restoration of our Saxon sword and spear heads. Although total income is approximately four times the figure achieved in 2023 it is still insufficient to cover the cash costs of running the Society and the museum. Subscription and donation income is approximately double the figure achieved in 2023. The upkeep of the fabric of the museum continues to be a major cost but we also had a comprehensive review of our utilities costs, which has resulted in some savings. In summary, the Society reported a £2.4k loss (2023 £14.3k loss) before an unrealised investment gain of approximately £6.4k (2023 £11.9 gain). Total Society funds increased by £4.0k in the year. Total funds of the Society at 31 December 2024 stand at £148.6k. The summary cash flow for the year can be seen from the following reconciliation: |reconciliation:|reconciliation:|reconciliation:|| |---|---|---|---| ||||| ||£|£|| |**Opening Cash balance**||7,381|| |**Retained surplus for the**
**year**||4,034|| |**Adjustments for non-cash**
**items:**|||| |Gain in value of investments
Realisation on transfer
of investment
Accumulated interest
on bank deposits
Increase in Creditors
**Increase in Debtors**
**Decrease instock**|(6,462)
(703)
(375)
2,361
(336)
500||| ||||| |**Net cash movement**||(981)|| |**Closing cash balance**||6,400|| The Trustees have assessed the major risks to which the Society is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Page 5 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Signed on behalf of the Trustees: John Rowley Chair of Trustees Frank Haslam Trustee 14 February 2025 ## Independent Examiner's report to the Executive Committee of the Leatherhead & District Local History Society CIO I report to the Trustees on my examination of the accounts of the charity for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. 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 accounts to be reached. Page 6 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Adrian Radford ACA 7 Curbey Close West Chiltington 2025 RH20 2HU 14 February Page 7 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Leatherhead & District Local History Society ## Annual Accounts for the Year Ended 31 December 2024 ## Statement of Financial Activities |Statement of Financial Activities|| |---|---| |2024|20
23| |Note
s
£|£| |Income
from
Restricted
Unrestricte
d|| |Donations &
Legacies
3
-
7,318
7,318|2,214| |Grants
3,884
-
3,884|-| |Charitable
Activities
3
-
1,248
1,248|748| |Investment
income
3
-
479
479|164| |Total
3,884
9,045
12,929|3,126| ||| |Expenditur
e on|| |Charitable
activities
4
3,712
11,645
15,357|17,46
5| ||| |Total
3,712
11,645
15,357|17,46
5| ||| |Net income/(expenditure)
before
investment
gains/(losses)
172
(2,600)
(2,428)|(14,33
9)| |Net gain on investments
-
6,462
6,462|11,96
0| ||| |Net movement in funds
172
3,862
4,034|(2,379
)| ||| |Reconciliation of funds:|| |Total funds brought forward
-
144,583
144,583|146,9
62| |Total funds carried forward
172
148,445
148,617|144,5| Page 8 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 83 ## Balance Sheet as at 31 December 2024 |2024|2023| |---|---| |Notes
£|£| |Fixed Assets|| |Heritage Assets
1|1| |Investments
8
112,3
02|135,02
0| |Total Fixed Assets
112,3
03|135,02
1| |Current Assets|| |Stocks
1,842|2,342| |Debtors
9
336|-| |Cash deposit accounts
30,25
8|-| |Cash at bank and in hand
6,400|7,381| |Total Current Assets
38,83
6|9,723| |Current Liabilities|| |Creditors (< 1 year)
10
2,522|
161| |Net Current Assets
36,31
4|9,562| ||| |Total Assets less current liabilities
148,6
17|144,58
3| ||| |Funds of the Society|| |Restricted Funds
11
172|-| |Unrestricted Funds
11
148,4
45|144,58
3| |Total Funds
148,6
17|144,58
3| ||| The notes on page 8-12 form part of these financial statements. Page 9 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Approved by the Executive Committee by circulation on 31 January 2025. Signed on behalf of the Committee. **John Rowley Chairman** **John Oliver Honorary Treasurer** Page 10 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Notes to the Accounts ## **1 Basis of Accounting** - a) Basis of preparation and assessment of going concern. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. The Society constitutes a public benefit entity as defined by FRS 102. - b) The Executive Committee consider that there are no material uncertainties about the Society’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. - c) The Society takes the view of the Association of Independent Museums regarding the museum property and its artefacts assets. That is, its policy is to treat these assets as heritage assets and not to capitalise the assets. These assets are in effect inalienable and held in perpetuity. Any financially based valuation would be misleading to the value and significance of the material culture involved. The Society has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long term care and preservation. Historically the Society has reported a value of £1 for the museum. - d) All furniture and equipment is deemed to have no residual value. - e) The book stock is valued at the lower of cost and net realisable value. - f) The unrecognised gains or losses on investments are based on the market value of the COIF Funds at the end of the financial year. The market value is deemed to be the mid-market value which is the average of the bid and the offer price. Unrealised gains and losses are included in the Statement of Financial Activities. ## **g) Income** All incoming resources are recognised once the Society has entitlement to the resources, it is certain that resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Member subscriptions are considered to be donations in substance and were recognised on receipt in 2022. In 2023 two subscriptions, totalling £46 received in 2023 but relating to 2024 were deferred and shown in creditors. This accounting policy of recognising subscription income in the year to which it relates has been used in these financial statements and will be used in future years. Page 11 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Legacies are accounted for as income either upon receipt or where the receipt of the legacy is virtually certain; this will be once confirmation has been received from the representatives of the estate that payment of the legacy will be made or property transferred and once all conditions attached to the legacy have been fulfilled. Grant income received in 2024 was fully recognised on receipt. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid by the Bank. ## **h) Expenditure** Expenditure is recognised when a liability is incurred. VAT is charged against the category of resources expended for which it was incurred. ## **i) Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the Society. Designated funds are unrestricted funds of the Society which the Executive Committee have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Society’s work or for specific projects being undertaken by the Society. The Society currently has no Restricted Funds. ## **2 Income and Expenditure** The Society benefits greatly from the involvement and enthusiastic support of its volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. ## **3 Analysis of Income** |2024|2023| |---|---| |£|£| |Donations
&
Legacies
Donations & legacies
5,215|655| |Membership Subscriptions
1,660|754| |Friends Subscriptions
245|115| |Gift Aid
198|690| |Grants
Grant donations
3,884|-| |Charitable
Activities
Meetings Programme
1,093|748| |Publication
Sales
&
royalties
155|-| |Investments
Interest Received
479|164| |Total Income
12,929|3,126| Page 12 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 Friends Subscription income relates to subscriptions collected along with Society subscriptions and are paid over to the Friends of Leatherhead Museum (FoLM). Other Sales relates to museum sales, also paid over to FoLM as a Friends managed activity. Page 13 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 ## **4 Analysis of Expenditure** |**nalysis of Expenditure**|| |---|---| |2024|2023| |£|£| |Charitable
Activities
Meetings Programme
909|1,491| |Publications - Books
500|1,000| |Publications - Newsletter
-|606| |Payment to Friends
245|115| |Other expenses
-|-| |Activities Total
1,654|3,212| |Museum
Museum expenses
7,136|9,875| |Museum storage
880|880| |Museum utilities/insurance
costs
5,138|2,878| |Museum Total
13,154|13,63
3| |Membership
Societycosts
549|660| |Membership Total
549|660| |Total Expenditure
15,357|17,46
5| Museum expenses includes over £2.2k (2023 - £5.6k) for refurbishments to the museum. Museum storage relates to the leasing of space to store artefacts / documents etc. Payments to Friends relates to subscriptions and donations collected on behalf of the Friends of Leatherhead Museum, plus museum sales managed by FoLM. Society costs include website and online archive running costs, trustee insurance, printing and stationery, postage, Society subscriptions to other organisations and other minor expenses including modest transaction costs when funds are received via SumUp or Stripe. ## **5 Certain items of expenditure** Page 14 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 There have been no fees paid for external scrutiny of the accounts or other services provided by the independent examiner. There were no fees paid for consultancy, accountancy or other professional services (2023 - nil). ## **6 Paid employees** The Society has no employees (2023 - nil). ## **7 Heritage assets** Heritage assets owned by the Society include paper documents, pictures, ephemera, artefacts and exhibits. The heritage assets are available for use by the Society’ members for research or as part of displays at Leatherhead Museum. Any assets purchased in the past have not been capitalised. ## **8 Investment Assets** ||**Fixed assets investments**
£
Carrying (market) value at beginning
of year
135,020
Less transfer to cash deposit accounts
(29,297)
Plus interest income
117
Plus net gain on revaluation
6,46
2
Carrying (market)value at end ofyear
112,302| |---|---| |**Analysis of investments**
Market
value at
year end
Income
from
investment
s for the
year|| |Investments held in common investment
funds
£
£|| |COIF - Investment Fund
62,470
-|| |COIF - Global Equity Income
32,151
-|| |COIF - Fixed Interest
17,355
-|| |Cash held as part of the investment
portfolio
326
17|| |Total
112,302
17|| ## **9 Debtors & Prepayments** |**Debtors & Prepayments**|||| |---|---|---|---| ||2024|2023|| ||£|£|| |Trade debtors|286||-| |Prepayments and accrued income|50||-| |Total|336||-| ## **10 Creditors & Accruals** Amounts falling due within one year |**Creditors & Accruals**
Amounts falling due within one year||| |---|---|---| ||2024|2023| ||£|£| |Trade creditors|2,522|161| Page 15 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 ## **11 Charity Funds** Donations specifically for museum maintenance are taken to the Museum Fabric Fund as are material maintenance costs. £4.4k was transferred from the General Fund to the Museum Fabric Fund to cover the building works. The Publications Fund is for the publication of research material. All other costs are being met from the Society’s General Fund and therefore annual surpluses / losses and gains / losses are taken to the General Fund. ## **Movement of Funds** Details of funds held and movement in funds in the current reporting period. |Fund names|Fund
balances
brought
forward|Incoming
resource
s|Resourc
es
expende
d|Transfe
rs|Gains
and
losses|Fund
balance
s
carried
forward| |---|---|---|---|---|---|---| |Unrestricted Funds|£|£|£|£|£|£| |||||||143,47| |General Fund|139,608|9,045|(11,645)|-|6,462|0| |Designated Funds||||||| |Publications Fund|4,975|-|
-|
-|
-|4,975| |Total
Unrestricted||||||| |Funds|144,583|9,045|(11,645)|-|6,462|148,445| |Restricted funds:||||||| |grants received|-|3,884|(3,712)|-|-|172| |||||||148,61| |Total Funds|144,583|12,929|(15,357)|-|
6,462|7| Funds held and movement in funds in the previous reporting period. |Fund names|Fund
balances
brought
forward|Incoming
resource
s|Resourc
es
expende
d|Transfe
rs|Gains
and
losses|Fund
balance
s
carried
forward| |---|---|---|---|---|---|---| |Unrestricted Funds|£|£|£|£|£|£| ||||||11,96|139,60| |General Fund|140,816|3,126|(11,869)|(4,425)|
0|8| |Designated Funds||||||| |Museum Fabric Fund|1,171||(5,596)|4,425|
-|-| |Publications Fund|4,975|-|
-|
-|
-|4,975| |Total Designated Funds|6,146||(5,596)|4,425|
-|
4,975| ||||||11,96|144,58| |Total Funds|146,962|3,126|17,465|-|
0|3| ## **12 Analysis of net assets between funds** Page 16 of 17 Leatherhead & District Local History Society CIO Annual Report & Accounts 2024 |Funds
balances
at
31
December 2024
are represented by:|Restricted
funds|Unrestricted
funds|Total| |---|---|---|---| |Fixed assets|-|112,303|112,303| |Current assets|2,172|36,664|38,836| |Creditors(<1year)|(2,000)|(522)|(2,522)| |Total Funds|172|148,445|148,617| ## **13 Transactions with Trustees and related parties** All Executive Committee members and Museum Managers give their time voluntarily and receive no remuneration or other benefits. There were no reimbursements for personal expenses such as travel, telephone charges etc. No Officer received payment for professional or other services supplied to the charity. The Society is small and Officers sometimes pay in advance for Society supplies and services. The Society then reimburses Officers on receipt of original supplier invoices. Reimbursements in the accounts for 2024 were £961 (2023 - £2,360). Page 17 of 17