Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST Charity Commission registered no. 1176315**
## **FINANCIAL STATEMENTS**
**for the year ended 31 December 2024**
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **Index**
## **for the year ended 31 December 2024**
|Legal and Administrative Information|1|
|---|---|
|Trustees' Annual Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 15|
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST Charity Information**
## **for the year ended 31 December 2024**
## **Charity Number**
1176315
## **Registered office**
Bourne Town Hall North Street Bourne PE10 9EA
## **Board of Trustees**
Mr Charles Houseago Chair Mrs Katrina Lloyd Treasurer Mrs Hilary Bloomer Mrs Nicola Ferguson Mrs Rannadevi Patel Mrs Jane Gabbutt Mr Gavin Lishman
Appointed 25 July 2024
## **Bankers**
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
## **Independent Examiner**
Ken Maggs BA, FCA Hoekman Way Spalding Lincs PE11 3HE
Page 1
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST**
**Annual Report**
**for the year ended 31 December 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024.
The charity's principle address is The Old Town Hall, North Street, Bourne, Lincolnshire, PE10 9EA.
## **Structure, governance and management**
## **Governing document**
The charity is constituted by the Charity Commission and was registered in England and Wales on 15 December 2017 with charity number 1176315. The charity is governed by its Foundation CIO constitution, which was adopted on 11 September 2017 and amended 16 June 2024.
The charity is also known as Bourne Sessions House, Bourne Town Hall Restoration Project, and The Old Town Hall, Bourne.
## **Objectives and Activities**
Bourne Town Hall Trust CIO's objects are to
- i) provide facilities, in the interest of social welfare, for recreation and leisure time occupation with the object of improving the conditions of life of the inhabitants of Bourne (including the provision and maintenance of a community arts centre).
- ii) advance education of the inhabitants of Bourne including:
- a) in all forms of the arts;
- a) by securing, restoring, preserving and caring for the fabric of Bourne Town Hall and associated land and buildings having historic interest or architectural merit.
The trusts activities include the following:
1. Management to the Old Town Hall on behalf of the Town.
2. Applications for, and the management of, grants supporting the planned restoration and conversion of the building as a community Arts centre.
3. Organisation of events and fundraising.
4. Recruitment and management of volunteers to support the charity goals. 5. Coordination with all stakeholders.
## **Trustees**
The trustees who are also the members and served the charity during the period are detailed on Page 1.
New trustees are appointed by the current trustees from people over 16 who have shown a keen interest in the work of the charity and have abilities required on the governing body, apart from the first charity trustees, every trustee must be appointed for a term of three years. At least one of the trustees must be 18 years of age or over. Training is provided to keep trustees up to date with new legislation etc. on a regular basis.
All new trustees are provided with a copy of the constitution and the latest Trustees Annual Report and statement of accounts. Trustees are removed from the board if they resign, have been absent from three consecutive meetings without due reason or voted off by a majority of the trustees due to conduct prejudicial to the charity.
Unless due to legal reasons for removal, the board shall consist of at least four trustees.
## **Financial Review**
The results for the charity for the financial year are detailed on pages 6 to 15. These financial statements cover the early stages of the restoration project mainly establishing the viability, pathway forward and planning stages before moving into commencement of the project.
Page 2
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **Annual Report (continued)**
## **for the year ended 31 December 2024**
## **Public Benefit**
The trustees declare that they have due regards to the guidance on public benefit issues by the Charity Commission, all trustees have been provided with the Charity Commission Guidance Notes on Public Benefit and it is the intention to review the guidance with respect to our activities at trustee meetings each January.
Bourne Town Hall was built on land donated by the Marquis of Exeter in 1821. The building provided for Petty and Quarter Sessions plus a covered market for the inhabitants of Bourne, Lincolnshire. Since this time the building had remained a central point of Bourne until the Magistrates Court ceased operations in 2008 and the local council relocated its offices in 2014. Since that time, it had remained unoccupied and it was not seen as a cost-effective use of Council funds especially during austerity.
The trustees and other volunteers consider the building to be an important part of the town and of the Bourne community. The support of the Bourne people and other entities will enable them to return the building to the local community and hopefully in perpetuity for the future.
The restoration project is expected to take a considerable time especially as the trustees wish to restore the fabric of the original Georgian building which has been hidden by modern additions. Once work is completed then we hope to have created an arts and entertainment centre for the whole community.
The building will have original features but will be flexible to match up to date expectations and requirements. It will not just be historic building it will be a practical and vibrant structure.
## **Achievement and Performance**
## **Introduction**
The past year has been a remarkable period of progress and achievement for the trustees. Through diligence, strategic planning, and collaboration, significant milestones have been reached that pave the way for transformative change. This report outlines the key accomplishments, including the successful completion of the National Lottery Heritage Fund development grant, the securing of a £3.3 million delivery phase grant, and the obtaining of planning permission for building regeneration work.
## **Completion of the National Lottery Heritage Fund Development Grant**
Over the last year, the trustees undertook and successfully completed the National Lottery Heritage Fund development grant. This achievement represents a significant step in the ongoing journey toward revitalising and preserving heritage. The grant facilitated crucial developmental activities, including stakeholder consultations, the development of activity and interpretation plans, and a fully developed building design to RIBA 4a, ensuring that the proposed projects meet both community needs and heritage preservation goals.
## **Securing the Delivery Phase Grant**
A pivotal accomplishment this year was securing the delivery phase grant of £3.3 million from the National Lottery Heritage Fund. This substantial funding will enable the trustees to transition from planning to implementation, bringing their vision to life. The delivery phase grant will support the regeneration work, ensuring the enhancement of cultural, historical, and structural assets while engaging the community in meaningful ways.
In addition to the National Lottery Heritage funding grant, the trustees secured significant match funding grants from local charities, The Len Pick Trust, to rebuild the clock tower during the regeneration works and from, Bourne United Charities in install 2 lifts to ensure the building will be accessible to as wide a section of the community as possible.
## **Obtaining Planning Permission for Building Regeneration Work**
Another landmark achievement was obtaining planning permission and listed building consent to commence building regeneration work. This critical step ensures that the architectural and structural revitalisation plans adhere to local regulations and align with long-term sustainability objectives. The planning permission marks the readiness to move forward with construction and redevelopment, aiming to breathe new life into this historic structure while maintaining its intrinsic value as an asset for the whole community.
Page 3
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**for the year ended 31 December 2024**
## **BOURNE TOWN HALL TRUST**
## **Annual Report (continued)**
## **Achievement and Performance (continued)**
## **Looking ahead**
As the trustees celebrate these key accomplishments, they remain committed to the continued success of the project. With the delivery phase grant secured and planning permission in place, the focus will shift to executing the regeneration work, fostering community collaboration, and ensuring that each phase is completed with precision and care. These achievements reflect a solid foundation for future milestones and underscore the trustees' dedication to heritage preservation and community enrichment.
## **Conclusion**
The trustees' collective efforts and strategic vision have culminated in a transformative year, marked by significant progress in heritage development and regeneration. The successful completion of the National Lottery Heritage Fund development grant, the award of a £3.3 million delivery phase grant, and the approval of planning permission are testaments to the trustees' commitment and resilience. These achievements not only set the stage for the next phases but also reinforce the importance of preserving heritage for future generations.
## **Risk management**
The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The principal risk towards the Charity is a lack of funding and income to support it's stated aims. The trustees have considered this risk and believe that with careful management they will be able to continue to fulfil the objectives of the Charity.
## **Going concern**
Current reserves and on-going donations are sufficient to support the Trust at this time.
## **Property - Bourne Town Hall**
The freehold property known as Bourne Town Hall in North Street, Bourne is currently held in trust by Lincolnshire County Council. The property will become a functional asset of the charity providing sufficient funds are secured to complete the renovation works.
The charity had a five year rent free period which was extended by a further five year lease to enable initial works to be carried out and funds to be arranged.
## **Reserves**
It is the long term policy of the charity to aim to build sufficient reserves to meet 12 months base running costs of the building.
The charity trustees are in the process of raising funds for the restoration work of the whole building. This is expected to cost in the region of £3.5m and take two to three years to complete.
The Trustees regularly review the amount of reserves that are required to ensure that they are adequate to fulfil the charity's continuing obligations. The carried forward unrestricted reserves as at 31 December 2024 are £27,180, and the carried forward restricted reserves as at 31 December 2024 are £210,227.
For and on behalf of the board of trustees:
24-07-25 Date: **….............................. 2025**
**Mr C Houseago** Chair of Trustees
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Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE**
## **BOURNE TOWN HALL TRUST**
I report to the trustees on my examination of the accounts of the Charity for the year ended 31 December 2024, which are set out on pages 7 to 15.
## **Responsibilities and basis of report**
As the charity’s 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 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**
Since the charity’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of England and Wales.
I have completed my examination. I confirm that no material 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 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.
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.
**….........................................**
25-07-25 Dated: **….......................................... 2025**
**K.J. Maggs** B.A., F.C.A. Chartered Accountant Spalding
Page 6
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **for the year ended 31 December 2024**
**----- Start of picture text -----**
2024 2023
Note Unrestricted Restricted Total Total
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Charitable donations 2,402 - 2,402 1,498
Grant income 2 - 135,193 135,193 73,765
Fund-raising 182 - 182 1,145
Charitable activities 3 8,263 - 8,263 18,701
Investment income
Bank interest 105 - 105 87
TOTAL INCOME 10,952 135,193 146,145 95,196
EXPENDITURE ON:
Charitable activities 4 14,190 1,000 15,190 22,493
Support costs
Subscriptions 128 - 128 256
Bank and card charges 223 - 223 749
Loan interest 1,163 - 1,163 112
Accountancy fees 400 - 400 400
Independent examination 400 - 400 400
2,314 - 2,314 1,917
Raising funds
Event costs 268 - 268 30
Advertising and publicity 121 - 121 160
389 - 389 190
Total support costs 2,703 - 2,703 2,107
TOTAL EXPENDITURE 16,893 1,000 17,893 24,600
NET (EXPENDITURE) / INCOME (5,941) 134,193 128,252 70,596
Reconciliation of funds:
Brought forward 33,212 75,943 109,155 38,559
Carried forward 27,180 210,227 237,407 109,155
**----- End of picture text -----**
_The notes on pages 9 to 15 form part of these accounts_
Page 7
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **BALANCE SHEET**
## **At 31 December 2024**
**----- Start of picture text -----**
2024 2023
Note £ £ £ £
FIXED ASSETS
Tangible assets 5 5,119 9,096
Heritage assets 6 196,073 50,778
201,192 59,874
CURRENT ASSETS
Stock 424 696
Debtors
Other debtors 232 150
Taxes and social security 542 5,525
Prepayments 138 -
912 5,675
Bank and cash in hand
CAF Bank 7,511 18,279
CAF Bank - Grants 28,229 57,010
Cash in hand 296 150
36,036 75,439
Current Assets 37,372 81,810
CREDITORS: Amounts falling due within
one year
Loans and overdrafts - 15,000
Trade creditors 134 14,877
Accruals 1,023 2,652
1,157 32,529
NET CURRENT ASSETS 36,215 49,281
TOTAL ASSETS LESS LIABILITIES 237,407 109,155
CHARITY FUNDS
Restricted funds 9 210,227 75,943
Unrestricted funds 27,180 33,212
237,407 109,155
**----- End of picture text -----**
25-07-25
The financial statements on pages 6 to 13 were approved by the Trustees on **…..................................... 2025** and signed on their behalf by:
…......................................... …......................................... **Mr C Houseago Mrs K Lloyd** Chair of Trustees Treasurer
_The notes on pages 9 to 15 form part of these accounts_
Page 8
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST**
**for the year ended 31 December 2024**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Accounting Policies**
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **(a) Basis of preparation of financial statements**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity.
## **(b) Funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
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. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **(c) Income recognition**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised, net of any Value Added Tax when entitlement has occurred.
Investment income is recognised in the accounts when the amount can be measured reliably and the Charity's right to receive payment is established.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
## **(d) Expenditure recognition**
Expenditure is accounted for net of applicable Value Added Tax on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable activities expenditure include all resources applied by the Charity in undertaking its charitable objectives as opposed to support costs.
Page 9
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
## **1. Accounting Policies (continued)**
## **(d) Expenditure recognition (continued)**
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs and governance costs.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Irrecoverable Value Added Tax is charged as an expense against the activity for which expenditure arose.
## **(e) Debtors and creditors receivable/payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **(f) Tangible fixed assets**
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.
**----- Start of picture text -----**
||||
|---|---|---|
|Computer equipment|3 years|straight line|
|Office equipment|5 years|straight line|
|Furniture|3 years|straight line|
|Leasehold property improvements|5 years|straight line|
**----- End of picture text -----**
## **(g) Heritage assets**
It is the policy of the Trust not to capitalise heritage assets belonging to the Trust, where a reliable estimate cannot be made of the asset’s fair value or the information on cost or value is not available and which cannot be obtained at a cost which is commensurate with the benefits to the users of the financial statements. These are in effect inalienable, held in perpetuity, and are mostly irreplaceable. Any financially based valuation would be misleading to the value and significance of the material culture involved. The Trust 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. The highest possible standards of collection management are applied, and the events are made available as widely as possible to facilitate all enquiries and requests for information, subject to appropriate security and data protection guidelines.
The Trust does not currently own the property which is owned by Lincolnshire County Council. The Trust had a three year rent free period which was extended by two years, i.e. 2025.
## **(h) Going Concern**
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, which is sufficient with the level of reserves of the Charity to be able to continue as a going concern.
## **2. Grants receivable**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Architectural Heritage Fund|-|30,000|
|Heritage Lottery Fund|134,193|42,265|
|South Kesteven District Council|-|1,500|
|Lincolnshire County Council|1,000|-|
|135,193|73,765|
**----- End of picture text -----**
Page 10
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
## **3. Charitable activities - income**
|Event Ticket Sales
Bar sales
Hall Hire income
Art / Merchandise commission
Merchandise sales|**Restricted**
**£**
**£**
3,569
-
4,689
-
-
-
1
-
4
-
8,263
-
**2024**
**Unrestricted**|**Total**
**£**
3,569
4,689
-
1
4
8,263|2023
Total
£
9,676
8,639
200
144
42
18,701|
|---|---|---|---|
## **4. Charitable activities - expenditure**
|Bar stock
Entertainment and workshops
Ticketing costs and fees
Licences and subscriptions
Rent and rates
Cleaning costs and waste disposal
Telephone and communications
Computer running costs
Repairs and maintenance
Printing, postage and stationary
Small equipment
Training costs
Light and heat
Legal and professional fees
Insurance
Sundry expenses
Depreciation
Loss on disposal of tangible fixed assets|**Restricted**
**£**
**£**
2,465
-
1,547
-
364
-
484
-
288
-
61
-
547
-
326
-
387
-
47
-
22
-
108
-
2,759
1,000
35
-
334
-
279
-
4,137
-
-
-
14,190
1,000
**2024**
**Unrestricted**|**Total**
**£**
2,465
1,547
364
484
288
61
547
326
387
47
22
108
3,759
35
334
279
4,137
-
15,190|2023
Total
£
3,797
5,429
-
207
269
59
393
329
145
247
294
554
3,027
399
323
126
6,812
83
22,493|
|---|---|---|---|
Page 11
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
## **5. Fixed assets**
|**Computer**
**equipment**
**£**
**£**
**£**
13,058
2,571
22,149
Additions
-
160
-
Disposals
-
(155)
-
Carried forward
13,058
2,576
22,149
11,918
2,386
14,378
Charge
692
208
3,237
Eliminated on disposal
-
(155)
-
Carried forward
12,610
2,439
17,615
**Net book value**
At 31 December 2024
448
137
4,534
At 31 December 2023
1,140
185
7,771
**Heritage assets**
**£**
50,778
Additions
145,295
Carried forward
196,073
**Net book value**
At 31 December 2024
196,073
At 31 December 2023
50,778
**Furniture,**
**fixtures and**
**equipment**
**Leasehold**
**property**
**improvements**
Brought forward
**Development of**
**Heritage property**
**Cost**
Brought forward
**Cost**
Brought forward
**Depreciation**|**Total**
**£**
37,778
160
(155)
37,783
28,682
4,137
(155)
32,664
5,119
9,096
**Total**
**£**
50,778
145,295
196,073
196,073
50,778|
|---|---|
## **6. Heritage assets**
The Heritage assets is currently owned by Lincolnshire County Council and leased to Bourne Town Hall Trust.
## **7. Trustees Remuneration, Expenses and Control**
There were no remuneration or expenses paid to the Trustees during the period. The Charity is controlled by the Trustees as a body. No individual Trustee has control over the Charity.
## **8. Related Party Transactions**
There are no related party transactions during the period.
Page 12
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
## **9. Restricted funds**
|Restoration project
Utilities fund
Restricted funds
Unrestricted funds|**At 1/1/24**
**£**
75,943
-
75,943
33,212
109,155|**Income**
**£**
134,193
1,000
135,193
10,952
146,145|**Outgoing**
**£**
-
(1,000)
(1,000)
(16,893)
(17,893)|**Transfers**
**£**
91
-
91
(91)
-|**At 31/12/24**
**£**
210,227
-
210,227
27,180
237,407|
|---|---|---|---|---|---|
## **Transfers**
When restricted funds have been used for the purpose for which they were granted to create an asset and the restriction no longer applies then the funds are transferred into unrestricted or endowment funds depending upon the stated requirements or purpose of the asset where applicable.
It is a common occurrence that the funds are used for the specific purpose but the donated funds will frequently be less than the total cost at they time the cost is incurred. In these cases unrestricted funds are used to cover the deficit.
These funds are represented by:
|Restoration project and Restricted funds
Unrestricted funds|**Fixed**
**assets**
**£**
196,073
5,119
201,192|**Current**
**assets**
**£**
14,336
23,036
37,372|**Current**
**liabilities**
**£**
(182)
(975)
(1,157)|**Total**
**£**
210,227
27,180
237,407|
|---|---|---|---|---|
## **9. Restricted funds (continued)**
These funds in the comparative year were represented by:
|Restoration project
Heritage day
Restricted funds
Unrestricted funds
**2023**|**Fixed**
**assets**
**£**
50,778
-
50,778
9,096
59,874|**Current**
**assets**
**£**
26,165
40
26,205
55,605
81,810|**Current**
**liabilities**
**£**
(1,000)
(40)
(1,040)
(31,489)
(32,529)|**Total**
**£**
75,943
-
75,943
33,212
109,155|
|---|---|---|---|---|
Page 13
Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
**BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
## **10. Restricted funds - Fund descriptions**
## **Restoration project**
The Restoration project relates to all the funds received by the charity for the purpose of the restoration of the Bourne Town Hall and bring it back into public use as a pivotable part of the local community.
## **Heritage day**
The Heritage day fund relates to funds received by the charity for the purpose of providing free workshops during the National Heritage Open Day event. All funds were spent during the year and the excess has been covered by general funds.
## **Utilities fund**
The Utilities Fund relates to a Localgiving Limited Grant which was awarded to assist in the meeting of utilities costs due to the increases being experienced and the wish to provide warmth and comfort.
## **10. Financial Commitment**
The charity has a rent free agreement with Lincolnshire County Council for a period of three years with a option to extend to five years. Due to the historic nature and condition of the building it has not been possible to estimate a market rent and as such the gift in kind has not been included in the Statement of Financial Activities.
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Docusign Envelope ID: B9EC3058-36B6-4AFE-85DE-A00B61D387C7
## **BOURNE TOWN HALL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **for the year ended 31 December 2024**
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11. Comparatives
STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM:
Charitable donations 1,498 - 1,498
Grant income - 73,765 73,765
Fund-raising 1,145 - 1,145
Charitable activities 18,701 - 18,701
Investment income 87 - 87
TOTAL INCOME 21,431 73,765 95,196
EXPENDITURE ON:
Raising funds
Event costs 30 - 30
Advertising and publicity 29 131 160
Charitable activities
Bar stock 3,797 - 3,797
Entertainment and workshops 4,040 1,389 5,429
Licences and subscriptions 207 - 207
Rent and rates 269 - 269
Cleaning costs and waste disposal 59 - 59
Telephone and communications 393 - 393
Computer running costs 329 - 329
Repairs and maintenance 145 - 145
Printing, postage and stationary 247 - 247
Small equipment 294 - 294
Training costs 554 - 554
Light and heat 2,751 276 3,027
Legal and professional fees 399 - 399
Insurance 323 - 323
Sundry expenses 126 - 126
Depreciation 6,812 - 6,812
Loss on disposal of tangible fixed assets 83 - 83
Support costs
Subscriptions 256 - 256
Bank and card charges 749 - 749
Loan interest 112 - 112
Accountancy fees 400 - 400
Independent examination 400 - 400
TOTAL EXPENDITURE 22,804 1,796 24,600
NET (EXPENDITURE) / INCOME (1,373) 71,969 70,596
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