OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 10870254 (England and Wales) REGISTERED CHARITY NUMBER: 1180548

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Hylton Castle Trust

TTR Barnes Limited Chartered Accountants 3-5 Grange Terrace Stockton Road Sunderland Tyne & Wear SR2 7DG

Hylton Castle Trust

Contents of the Financial Statements for the year ended 31 March 2024

Page
Chairman's Report 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15 to 16

Hylton Castle Trust

Chairman's Report for the year ended 31 March 2024

In compiling my chairperson's report, I have considered and reflected on the significant progress the Trust and Operational Management provider have made, and it has to be said, the challenges we have also endured over the past year.

We are aware that the water ingress issue and scaffolding has led to reduced bookings and income; however, the castle and its grounds have become firmly established as a key asset for the local community, the city, and beyond, including the descendants of the Hylton family.

We can also look forward to new opportunities, including those created now we have permission for a new doorway within the castle, and draft plans for the restoration of the chapel, that will enhance our position and opportunity to attract new visitors. To have the opportunity to take forward this wonderful project is something that I know all our Trustees continue to recognise as a privilege.

I look with admiration at the increasing number of volunteers we have recruited and retained within the project, and the fantastic work they have delivered in not only transforming the external area/grounds for all our neighbours and visitors to enjoy, but the hours of dedicated time they have continued to give in supporting our diverse service delivery offer. This time so willingly given includes during the day, but also on many occasions on evenings and weekends. I also include in this my thanks to all our Trustees, who sit in a voluntary capacity on the Board, informing and developing the strategic direction of the Trust, and many of whom continue to also remain active volunteers on site.

I know Trustees will join me in commending the continuing work of our operational partner Community Opportunities, with whom we have formed an excellent and integral working relationship. The passion and commitment of the staff team remains outstanding and above all expectations, and the expertise which continues to be readily shared at a senior level between the two organisations is a true reflection of the Trust and confidence that the partnership is built upon.

We have all recognised that any new venture needs financial backing and we have been extremely fortunate to continue to sustain the support of National Lottery Heritage Fund (NLHF) and Sunderland City Council and I would like to thank our local Councillors for their continued support in enabling us to access funding through the North Area Committee to develop an event space and activities. I would also like to thank English Heritage for their support and steering us supportively through the requirements of managing and delivering from the Hylton Castle site and our work with Historic England that is helping us to explore the wider opportunities that the Hylton Castle site can provide for the local community.

Page 1

Hylton Castle Trust (Registered number: 10870254)

Report of the Trustees for the year ended 31 March 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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

Objectives and aims

Hylton Castle Trust exists to manage Hylton Castle and Dene on the local community's behalf. The restoration works on Hylton Castle have recently been fully completed and the castle is now open as a community-led heritage centre. Hylton Castle Trust will be working with partners to provide work placements and training opportunities for local people.The Charitable Company sees its principle objectives as:

The charitable company is also pursuing the following aims and aspirations:

Public benefit

The Trustees have had regard to the Charity Commission's guidance on their legal duty on public benefit, and are satisfied that the charitable company delivers public benefit in terms of accessibility to a site of such historical significance, and due regard is paid to the guidance on public benefit when reviewing the charitable company's aims and objectives and when deciding what new projects the charitable company should undertake.

Volunteers

To engage volunteers is essential in the continued operation of the charity and further details are provided in the Chairperson's Report.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charitable company's main activities are:

Details of achievements is provided in the Chairperson's report

Fundraising activities

Fundraising activities are undertaken to raise funds for the continued operation of the site. Such activities include afternoon teas.

FINANCIAL REVIEW

Financial position

The surplus in the year amounted to £358 (2023: £34,116). Restricted fund projects achieved a surplus of £23,990 in the year. The general reserve stands at £19,421 (2023: £43,053). The balance of restricted reserves stands at £ (34,868 (2023: £10,878).

Principal funding sources

The principle funding source in the year was income from grants.

Page 2

Hylton Castle Trust (Registered number: 10870254)

Report of the Trustees for the year ended 31 March 2024

FINANCIAL REVIEW

Investment policy and objectives

Hylton Castle endeavours to retain a prudent amount in reserves each year. The majority of funds however are spent in the short term so there are few funds for long term investment.

Reserves policy

To maintain general/unrestricted funds at a level which will cover 3 months operational and salary costs as a minimum supported by funds held by Sunderland City Council on behalf of the charitable company.

Going concern

The Trustees are aware of the continued need to secure sources of funding going forward and to work towards being self-sustaining, however, they have secured grant funding via Sunderland City Council from the National Lottery Heritage Fund and English Heritage. The English Heritage funding is secured for 5 years and the National Lottery Heritage Fund grant is also secured and released quarterly based upon approved expenditure. For this reason, the Trustees consider it appropriate that these accounts are prepared on a going concern basis.

FUTURE PLANS

It is important to continue to forge and invest in strategic partnerships to ensure success, the difficult economic situation continues but the Trustees are positive and continue to strive and work towards being a self-sustaining operation.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The number of trustees is determined in the Company's Memorandum and Articles of Association and appointments can be made at any Board meeting, The trustees must submit themselves for re-election once every three years.

Organisational structure

The sub-group, Finance and General Purposes, authorise expenditure as a quorate group on behalf of Hylton Castle Trustees.

Induction and training of new trustees

Most trustees, (directors), are already familiar with the practical work involved in the operation of the castle and are already involved with the hosting of events.

Furthermore, any new trustees are invited and encouraged to attend a tour of the Hylton Castle site where they will be informed about:

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 board has conducted its own review of the major risks to which the charity is exposed and systems have been established to minimise those risks. External risks relate to the generation of future funding and further details are provided in the Chairman's Report.

Internal risks are minimised by the implementation of procedures for authorisation of all transactions and events and to ensure consistent quality of delivery for all operational aspects of the charity. The operations are reviewed to ensure that they still meet the needs of the charity.

Page 3

Hylton Castle Trust (Registered number: 10870254)

Report of the Trustees for the year ended 31 March 2024

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

10870254 (England and Wales)

Registered Charity number 1180548

Registered office

Winchester House Baxter Road Sunderland SR5 4LW

Trustees

Mrs S Ord R E Wilson - Retired S L Hearn - Heritage Officer C Liddle - Manager Mrs D Macknight - Councillor R Singh - Retired J Smith - Retired Cllr D Wilson - Councillor J C Wilson - Retired G K Macknight - Retired S Walker Trustee (appointed 6/9/23) J C Burnicle Trustee (appointed 17/11/23)

Independent Examiner

David Cook FCCA TTR Barnes Limited Chartered Accountants 3-5 Grange Terrace Stockton Road Sunderland Tyne & Wear SR2 7DG

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 19 December 2024 and signed on its behalf by:

Mrs S Ord - Trustee

Page 4

Independent Examiner's Report to the Trustees of Hylton Castle Trust (Registered number: 10870254)

Independent examiner's report to the trustees of Hylton Castle Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

David Cook FCCA

TTR Barnes Limited Chartered Accountants 3-5 Grange Terrace Stockton Road Sunderland Tyne & Wear SR2 7DG

20 December 2024

Page 5

Hylton Castle Trust

Statement of Financial Activities for the year ended 31 March 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
41,867
Other trading activities
2
74,589
Total
116,456
EXPENDITURE ON
Raising funds
35,220
Charitable activities
Operation of Hylton Castle
100,129
Total
135,349
NET INCOME/(EXPENDITURE)
(18,893)
Transfers between funds
10
(4,739)
Net movement in funds
(23,632)
RECONCILIATION OF FUNDS
Total funds brought forward
43,053
TOTAL FUNDS CARRIED FORWARD
19,421		 Restricted
funds
£
331,733
-
331,733
75,249
237,233
312,482
19,251
4,739
23,990
10,878
34,868		 2024
Total
funds
£
373,600
74,589
448,189
110,469
337,362
447,831
358
-
358
53,931
54,289		 2023
Total
funds
£
348,483
44,973
393,456
42,985
316,355
359,340
34,116
-
34,116
19,815
53,931

The notes form part of these financial statements

Page 6

Hylton Castle Trust (Registered number: 10870254)

Statement of Financial Position 31 March 2024

Unrestricted
fund
Notes
£
CURRENT ASSETS
Stocks
6
168
Debtors
7
52,751
Cash at bank
9,563
62,482
CREDITORS
Amounts falling due within one year
8
(43,060)
NET CURRENT ASSETS
19,422
TOTAL ASSETS LESS CURRENT
LIABILITIES
19,422
NET ASSETS/(LIABILITIES)
19,422
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
165,032
114,118
279,150
(244,283)
34,867
34,867
34,867		 2024
Total
funds
£
168
217,783
123,681
341,632
(287,343)
54,289
54,289
54,289
19,422
34,867
54,289		 2023
Total
funds
£
-
169,821
90,482
260,303
(206,372)
53,931
53,931
53,931
43,053
10,878
53,931

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2024 and were signed on its behalf by:

S Ord - Trustee

The notes form part of these financial statements

Page 7

Hylton Castle Trust

Notes to the Financial Statements for the year ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have also been prepared on the going concern basis, which assumes that the private charitable company limited by guarantee, will continue in operational existence for the foreseeable future, which the trustees consider appropriate with the reserves available.

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' or 'revenue' grants, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Interest receivable 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 or payable by the bank

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

Fundraising events are held to raise funds for the operation of the charity. Such events include holding afternoon teas and Christmas activities, alongside family activities throughout the year.

Governance costs

Governance costs include the general running costs of the charity. These costs provide the governance infrastructure to allow the charity to operate and generate the information required for public accountability.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

continued...

Page 8

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Donated goods and voluntary labour

The Charitable company is in benefit from the many hours of voluntary labour donated by its supporters in relation to the running of the site, fundraising and administration. The value of these services has not been evaluated.

Cash at bank and in hand

Cash at bank and cash in hand includes cash includes cash and short term highly liquid investments which are instantly accessible from the opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at there settlement amount after allowing for any discounts due.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. OTHER TRADING ACTIVITIES

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Fundraising events|70,400|41,096| |Tea Rooms|4,189|3,877| |74,589|44,973|

----- End of picture text -----

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Other operating leases|2,250|2,600|

----- End of picture text -----

continued...

Page 9

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
11,782
Other trading activities
44,973
Total
56,755
EXPENDITURE ON
Raising funds
21,166
Charitable activities
Operation of Hylton Castle
1,835
Total
23,001
NET INCOME
33,754
RECONCILIATION OF FUNDS
Total funds brought forward
9,299
TOTAL FUNDS CARRIED FORWARD
43,053
6.
STOCKS
Stocks		 Restricted
funds
£
336,701
-
336,701
21,819
314,520
336,339
362
10,516
10,878
2024
£
168		 Total
funds
£
348,483
44,973
393,456
42,985
316,355
359,340
34,116
19,815
53,931
2023
£
-

continued...

Page 10

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 9)
Trade creditors
Accruals and deferred income
9.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
10.
MOVEMENT IN FUNDS
Net
movement
At 1/4/23
in funds
£
£
Unrestricted funds
General fund
43,053
(18,892)
Restricted funds
Sunderland City Council
(470)
-
National Lottery Heritage Fund
-
7,903
All Together Consortium
11,348
8,932
Battle Re-enactment
-
1,964
Christmas at the Castle
-
(4,019)
Hylton Castle Events Space
-
(250)
Warm Spaces
-
4,720
10,878
19,250
TOTAL FUNDS
53,931
358		 2024
£
184,044
33,739
217,783
2024
£
85,777
199,917
1,649
287,343
2024
£
85,777
Transfers
between
funds
£
(4,739)
470
-
-
-
4,019
250
-
4,739
-		 2023
£
169,821
-
169,821
2023
£
47,506
157,114
1,752
206,372
2023
£
47,506
At
31/3/24
£
19,422
-
7,903
20,280
1,964
-
-
4,720
34,867
54,289

continued...

Page 11

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
National Lottery Heritage Fund
English Heritage
All Together Consortium
Battle Re-enactment
Christmas at the Castle
Hylton Castle Events Space
Warm Spaces
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Sunderland City Council
All Together Consortium
TOTAL FUNDS		 Incoming
resources
£
116,456
89,350
25,000
13,372
50,000
86,225
62,786
5,000
331,733
448,189
At 1/4/22
£
9,299
10,516
-
10,516
19,815		 Resources
Movement
expended
in funds
£
£
(135,348)
(18,892)
(81,447)
7,903
(25,000)
-
(4,440)
8,932
(48,036)
1,964
(90,244)
(4,019)
(63,036)
(250)
(280)
4,720
(312,483)
19,250
(447,831)
358
Net
movement
At
in funds
31/3/23
£
£
33,754
43,053
(10,986)
(470)
11,348
11,348
362
10,878
34,116
53,931

continued...

Page 12

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Sunderland City Council
National Lottery Heritage Fund
English Heritage
All Together Consortium
TOTAL FUNDS		 Incoming
resources
£
56,755
146,310
151,391
25,000
14,000
336,701
393,456		 Resources
Movement
expended
in funds
£
£
(23,001)
33,754
(157,296)
(10,986)
(151,391)
-
(25,000)
-
(2,652)
11,348
(336,339)
362
(359,340)
34,116

Sunderland City Council

Funding is received from Sunderland City Council to support the purpose of delivering the Business Plan to develop Hylton Castle into a self-sustaining heritage led visitor facility, learning/exhibition/event space and café.

National Lottery Heritage Fund

The funding secured from NLHF is delivered via Sunderland City Council and also serves the purpose of delivering the Business Plan to develop Hylton Castle into a self-sustaining heritage led visitor facility, learning/exhibition/event space and café.

English Heritage Fund

The funding secured from English Heritage is also delivered via Sunderland City Council and also serves the purpose of delivering the Business Plan to develop Hylton Castle into a self-sustaining heritage led visitor facility, learning/exhibition/event space and café.

All Together Consortium

The funding secured from All Together Consortium serves the purpose of delivering holiday activities.

Battle Re-enactment

The funding secured from Sunderland City Council - Neighbourhood Fund was to deliver a battle re-enactment event scheduled between June and August 2023.

Christmas at the Castle

Funding secured through the Sunderland City Council Neighbourhood Fund to deliver Christmas Events at the castle.

Hylton Castle Events Space

Funding secured through the Sunderland City Council Neighbourhood Fund in order to support capital improvements to the site such as fencing and boundary walls.

Warm Spaces

continued...

Page 13

Hylton Castle Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

Funding secured from Sunderland City Council - Warm Spaces fund. The purpose of which is to ensure the local community enjoy a healthier life as well as being accessible for all people to access warm spaces regardless of age, ethnicity and ward specifically through the months of December to April.

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 14

Hylton Castle Trust

Detailed Statement of Financial Activities for the year ended 31 March 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Rent received
NLHF
SCC
English Heritage
HAF
Other trading activities
Fundraising events
Tea Rooms
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Charitable activities
Staff costs
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Support costs
Finance
Bank charges
Information technology
Repairs and renewals
Governance costs
Accountancy
Professional fees		 2024
£
901
7,226
114,350
212,750
25,000
13,373
373,600
70,400
4,189
74,589
448,189
110,469
103,622
2,250
814
1,576
22,969
3,404
742
823
2,551
138,751
60
136,531
3,140
58,880
62,020		 2023
£
3,777
8,005
151,390
146,311
25,000
14,000
348,483
41,096
3,877
44,973
393,456
42,985
137,705
2,600
854
1,166
23,476
2,845
135
10,506
1,424
180,711
72
67,121
1,620
66,831
68,451

This page does not form part of the statutory financial statements

Page 15

Hylton Castle Trust

Detailed Statement of Financial Activities
for the year ended 31 March 2024
Total resources expended
Net income		 2024
£
447,831
358		 2023
£
359,340
34,116

This page does not form part of the statutory financial statements

Page 16