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## **Charity Number 1181127**
## **THE LAURENCE STERNE TRUST**
**REPORT AND FINANCIAL STATEMENTS Year ended 31 October 2024**
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
|**CONTENTS**||
|---|---|
||Page|
|Charity details|2|
|Trustees’ Report|3|
|Statement of Trustees’ Responsibilities|9|
|Independent Examiner’s Report|10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Accounts|13|
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Charity details**
**Charity Name and Number** The Laurence Sterne Trust Charitable Incorporated Organisation Registered charity number 1181127 **Registered Address** Shandy Hall, Coxwold, York YO61 4AD **Trustees** Robert John Wyke (Chair) Rachel Feldberg Lady Feversham Thomas Forrest Peter Bardsea Miller Stephen Milner (resigned 12 June 2024) **Staff and Volunteers** Patrick Wildgust: Curator Chris Pearson: Volunteer and volunteer co-ordinator Michael Stanley: Museum Mentor **Bankers** Virgin Money, 46 Coney Street, York YO1 9NQ **Independent Examiners** HPH Chartered Accountants, 54 Bootham, York YO30 7XZ
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Annual Report of the Trustees of The Laurence Sterne Trust**
The Trustees present their annual report together with the financial statements of the CIO for the year ended 31 October 2024. The financial statements have been prepared in accordance with statutory requirements, the CIO’s governing document and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS 102).
## **Structure, Governance and Management**
The Trust is a Charitable Incorporated Organisation (CIO). It is governed by a foundation model constitution, agreed by the first trustees on 24 April 2018 and accepted by the Charity Commission on 11 December 2018.
## **Constitution and Trustees**
There have been no changes to the constitution. Stephen Milner stepped down as a trustee on 12 June 2024. There were no other changes to the body of trustees.
Full meetings of trustees were held on 16 March 2024 (Shandy Hall), 12 June 2024 (15 Dewsbury Terrace, York) and 26 October 2024 (Shandy Hall).
## **Affiliation**
The Charity is not affiliated to any other Charity.
## **Trustee Induction and Training**
New trustees will be briefed on their legal obligations under charity law, the workings of the Trust and decision-making processes, the business plan and recent financial performance of the Charity. During their induction they will meet key officers and the other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the understanding of their role.
## **Objectives and Activities**
The principal objects as stated in the governing document are to advance education for the public benefit by promoting the understanding and appreciation of the life, works and continuing influence of Laurence Sterne; primarily, but not exclusively, through maintaining and managing Shandy Hall, Coxwold, and its collections as a public museum and a centre for research, education and creativity.
The Trustees believe that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in regard to public benefit.
## **Achievements and Performance**
Shandy Hall, purchased freehold in 1968 to be a public museum dedicated to the life, work and legacy of Laurence Sterne (1713-1768), remains the Laurence Sterne Trust’s most important heritage asset. It is a Grade I listed building with all the challenges associated with that status. Shandy Hall is a significant local landmark and, with over 500 years of architectural history, it charts the changing use and social context of a place that is treasured by local communities. People come from across the world to be in the place where Laurence Sterne wrote _Tristram Shandy_ and feel connected to the author.
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
Shandy Hall is a fully accredited Museum (Accreditation number AN1580).
## **Public Access**
The main visitor season ran from 1 May to 30 September. The House was open on Saturdays, Sundays and Bank Holidays for guided tours at 11:30 and 14:30 which could be booked in advance. The Gardens were open 11:00-16:30 Wednesday to Sunday and Bank Holidays. Individuals and groups who could not manage these times could visit by appointment; many did so. Visitors continued to be happy with opening days and times and with admission charges: House & Garden: £10 per head; Garden only: £4. The Curator is free to waive admission charges for any visitor who cannot afford them.
The total number of visitors was 1,996 [including 77 free of charge]: House and Garden: 473; Garden only: 1,523.
Visitor feedback was once again overwhelmingly positive. 97% of respondents rated their experience Excellent or Good; the majority had no suggestions for improvement. 81% of visitors had not been to Shandy Hall before. Most visitors came from Yorkshire and the North, but we continued to attract people from all over the UK and abroad. Visitors were delighted with the welcome they received from the Curator and Chris Pearson and were impressed by their knowledge. There was high praise for the Curator’s tour of Shandy Hall and for Chris Pearson’s care of the Gardens. Visitors appreciated the tranquillity of the Gardens and valued the place as a haven for wildlife. Nearly all visitors would be happy to recommend Shandy Hall to others.
The Trust will take action in response to the 2023 Accessibility Audit as funds and time permit.
## **Health and Safety, and Safeguarding**
Steps were taken to divert visitors away from the area of rockfall on the southern boundary of the Wild Garden. The situation is monitored.
One of the new volunteers is neurodivergent. Chris Pearson discussed with him and his family ways of making his experience at Shandy Hall as positive as possible.
No safeguarding issues arose during the year.
## **Heritage Assets: Shandy Hall**
## **Museum Estate and Development Fund (MEND) Round 2**
Pinnacle Conservation Ltd finished work on the East and North Elevations (including repairs to the boiler house/garage and replacement of the Porch at the main visitor entrance) on 28 February 2024. This work was made possible by a grant of £166,250 from the Government’s Museum and Estate Development Fund (MEND) Round 2, administered by Arts Council England. The Historic Houses Foundation gave a grant of £6,000 on completion of the project. The enlarged new Porch made wheelchair access easier. A problem with damp in the Porch was monitored. The visitor experience will be much enhanced by these improvements to the fabric.
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The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
The archaeological watching brief during the building of the new Porch revealed two earlier yard surfaces. A quantity of pottery fragments of various dates was found, together with a cooking pot, animal bones and oyster shells. A time-capsule in a small jar was enclosed in the new Porch.
## **Repairs and maintenance**
In 2021 the Trust designated a fund to ensure that regular maintenance is carried out.
In the course of the year investigations into plumbing and heating took place and necessary action was taken. A problem with mice in the roof space was dealt with successfully. A burst pipe in the outside lavatory was dealt with and repainting took place.
A new field gate was installed and the front gate was re-hung on a new gatepost. North York Moors National Park paid 80% of the cost in each case.
## **Heritage Assets: Collection**
The Collection at Shandy Hall of books and other items relating to Laurence Sterne is of international importance. The Trust makes the Collection readily accessible to visitors and scholars. A full catalogue of our holdings is available online through our website.
The Reverend Chris Swift spent some days in the Collection carrying out research for his book _A Sterne Lent_ (published in February 2025). He recorded an interview in Sterne’s Study on 12 October 2024 as promotion for the book.
The eighteenth-century tinder purse, originally found behind a beam next to Sterne’s bedroom and subsequently re-found in a filing cabinet, was investigated by York Archaeology (their researcher wrote her report free of charge) and conserved.
Laura Sadler, PhD student at the University of Northumbria, continued to catalogue books in the Collection published in French; her four-year project with the Sterne Digital Library is due to finish in 2026.
On 26 October 2024 the Trust agreed to the request from Liverpool University Press, mediated by Helen Williams (University of Northumbria), to digitise Volumes 1 – 23 of _The Shandean_ on condition that the Trust has free access to the digitised journal in perpetuity. The journal will now reach a far wider public than when available only as a printed publication.
## **Garden and Environment**
The Garden is a vital element in Shandy Hall’s attractiveness to visitors. In spite of extreme weather conditions in 2024, Chris Pearson, with the help of her small team of volunteers, who provided 250 hours of their time this year, continued to keep the Garden looking beautiful. Visitors valued interaction with these well-informed people.
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
Storm Lilian (22 August 2024) tore a large branch from one of the central ash trees in the Wild Garden. Our tree surgeon monitors our trees, especially those on the boundary next to the road.
A new pergola was installed in the Wild Garden to support a large rose after the tree supporting it had fallen.
Visitor feedback again indicated enthusiasm for the tranquillity of the Garden. There was special praise for the Wild Garden and the Trust’s emphasis on wildlife: we are rich in insects, though moths were less numerous than in previous years; at least one badger continued to reside in the Wild Garden; and a barn owl used the stable to roost.
## **Exhibitions and Events**
On 23 and 24 March 2024 Shandy Hall was open for **Books, Blooms and Bric-à-Brac** . Visitors enjoyed visiting the Shop and viewing daffodils and other spring flowers, especially in the Wild Garden. The event was free; sales on the days amounted to c.£500.
The Garden was open under the National Garden Scheme on 7 June and 21 June 2024. In all, 82 people attended. The NGS Assistant County Officer attended to give support. These occasions included popular moth-release sessions. Poor weather made the moth count low but more than 15 species were recorded at the releases.
On 9 June 2024 Coxwold Open Gardens drew 278 visitors who came free of charge.
This year’s exhibition in the gallery was Carry Akroyd’s **Swoop Sing Perch Paddle** (8 June-11 August). It transferred to Chris Beetles Gallery in London SW1. The exhibition consisted principally of 132 screenprints of birds by Akroyd, originally created for _The Oldie_ ’s Bird of the Month column. All works were for sale. The exhibition raised £1,850 for the Trust. Bloomsbury published the screenprints in book form in September 2024.
## **Outreach, Partnership and Relationships**
In addition to encouraging visitors to visit Shandy Hall in person, we promote Laurence Sterne and his legacy through educational outreach and contact with other organisations.
The Curator and Chris Pearson gave three off-site talks. Audiences totalled 125.
In addition to the special events mentioned above, there were 12 special visits by educational and other groups during the season (216 individuals).
The following writers and artists stayed at Shandy Hall: Matthieu Copeland (via Leeds Beckett University; 10-11 February 2024); Kate Briggs (22-24 March 2024); Dr Gregory Betts, artist-inresidence (26-31 May 2024; Anthony Etherin and Christian Bök (Leeds Beckett University) also visited Shandy Hall in connection with Dr Betts’s residency); Ruth Pavey, garden writer (18-20 June 2024).
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Website**
There were 62,015 page views of the website during this period.
## **Social Media**
Activity on X was unstable; numbers hovered around 2,500. There were 223 followers on Instagram; 730 on Facebook.
## **Publications**
The Art of Play (California) sold out of their stock of 1,000 copies of _Endless Journey_ , the myriorama created for the trust by Tom Gauld. A reprint is under discussion.
Unbound’s _Cain’s Jawbone_ continued its international success. It has been translated into almost twenty languages [19 by February 2025].
## **Press and Media**
On 27 September 2024 BBC News featured “the world’s first stained-glass blue plaque”, i.e., the replacement for the original stained-glass blue plaque at 35 Stonegate, York, installed by York Civic Trust and unveiled by the Laurence Sterne Trust’s chairman in 2018 but broken by workmen in 2022. Helen Whittaker of Barley Studios made both the original and its replacement. The first two volumes of Sterne’s _Tristram Shandy_ were sold from this building in 1759.
## **Financial Review**
The Trust aims to raise sufficient income each year to cover its running costs, including salaries. The Trust weathered the Covid pandemic successfully, helped in large measure by government and other grants. The return to a normal pattern of operation has seen the income from admissions and sales recover and the Trust is in a reasonably stable financial position.
In 2023/24 expenditure exceeded income by £33,446 (net expenditure in 2022/23 was £4,866).
In October 2023 the Trust was entitled to a profit share of over £100,000 from Unbound for _Cain’s Jawbone_ . Unbound experienced financial difficulties during the year and a phased payment schedule was agreed. Even this proved difficult to realise; the Trust received only £5,000.
[Unbound filed for bankruptcy in March 2025. The company was sold through a pre-pack administration deal to Boundless Publishing Group. Unbound’s total deficiency for unsecured creditors has been estimated at £2.4m. Along with many other creditors, the Trust is unlikely to see its share of profits.]
We were awarded a grant of £166,250 From the Government’s Museum Estate and Development Fund (MEND) for essential repairs and maintenance on Shandy Hall, including a replacement porch. In 2022/23 preparatory work costing £12,044 was carried out. The major work started in November 2023. £143,867 of expenditure was incurred on the project in 2023/24.
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The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
In 2021 the Trustees designated £40,000 of unrestricted funds to start to address the repair and maintenance works identified in the Condition Survey Report. £8,437 was spent in 2021/22. In 2022/23 it was necessary to replace the boiler and carry out other works totalling £19,217. On 19 April 2023 the Trustees decided to transfer £20,000 from unrestricted funds to the designated repair fund in order to keep it at a level that enables us to continue to care for our heritage assets. In 2023/24 £8,268 was spent on repairs.
## **Reserves**
At the end of October 2024 unrestricted funds, excluding fixed heritage assets, were £62,041 (£95,487 at October 2023).
The Trust aims to have reserves of £60,000 (the annual running costs). Many small charities work on a six-month operational cost reserve, but as Shandy Hall is only open (and able to raise visitor income) for five months of the year the Trust considers a full year operational cost to be a more prudent level of reserves.
The loss of the anticipated income from _Cain’s Jawbone_ will require additional fundraising to ensure that the Trust has sufficient funds to meet its commitments and anticipated running costs in 2024/25.
## **Principal Specific Projects and Objectives for the Year 2024-2025**
- To continue to pursue possible funding opportunities from other organisations and individuals
- To mount one exhibition in the Gallery
- To hold two National Garden Scheme days with moth release sessions; and to take part in Coxwold Open Gardens
- To continue to explore ways to make our work more accessible to more people
- To recruit a suitable University of Pennsylvania intern to help during June and July 2025
- To participate in Coxwold’s Dark Sky Village project
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Statement of Trustees’ Responsibilities**
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing the financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees on 12 August 2025.
Robert Wyke Chairman
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Independent examiner’s report to the trustees of The Laurence Sterne Trust**
I report to the trustees on my examination of the accounts of The Laurence Sterne Trust (the Trust) for the year ended 31 October 2024.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust’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 giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust 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.
Sarah Wearing FCA, DChA HPH, Chartered Accountants 54 Bootham, York YO30 7XZ
12 August 2025
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 31 OCTOBER 2024**
|**Note**
**Income from:**
Government grants
6
Other grants
7
Donations and legacies
8
Charitable activities
9
Other trading activities
10
Investments
11
Other
**Total income**
**Expenditure on:**
Charitable activities
12
Support costs
12
Grant project (MEND)
12
**Total expenditure**
**Net income (expenditure)**
**Transfers between funds**
18
**Reconciliation of funds**
Funds brought forward
**Total funds carried forward**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**|
|---|---|
||**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
137,581
-
-
137,581
12,044
-
12,044
6,000
1,016
7,016
-
-
3,175
3,175
-
-
4,160
4,160
6,096
6,096
7,708
7,708
20,294
20,294
61,666
61,666
523
523
246
246
-
-
-
-
-
-
-
-|
||**143,581**
**1,016**
**30,088**
**174,685**
**12,044**
**-**
**73,780**
**85,824**|
||2,992
2,992
4,106
4,106
8,268
53,004
61,272
19,217
55,323
74,540
143,867
143,867
12,044
12,044|
||**143,867**
**8,268**
**55,996**
**208,131**
**12,044**
**19,217**
**59,429**
**90,690**|
||**(286)**
**(7,252)**
**(25,908)**
**(33,446)**
**-**
**(19,217)**
**14,351**
**(4,866)**
286
(286)
-
-
20,000
(20,000)
-
-
1,457,421
63,141
1,520,562
-
1,456,638
68,790
1,525,428
**-**
**1,449,883**
**37,233**
**1,487,116**
**-**
**1,457,421**
**63,141**
**1,520,562**|
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **BALANCE SHEET AT 31 OCTOBER 2024**
|**Note**||**2024**
**2023**
**£**
**£**
1,160,000
1,160,000
265,075
265,075|**2024**
**2023**
**£**
**£**
1,160,000
1,160,000
265,075
265,075|
|---|---|---|---|
|**Fixed assets**||||
|Tangible assets
Shandy Hall
13
Collection
**Current assets**
Stocks
14
Cash at bank and in hand
Debtors and prepayments
15
**Creditors: amounts falling due within one year**
Creditors and accruals
16
Deferred income
17
**Net current assets (liabilities)**
**Total net assets**
**Funds**
18
Restricted funds
Unrestricted funds
Designated fund (Heritage fixed assets)
Designated fund (repair & maintenance)
Undesignated funds
**Total funds**||||
|||**1,425,075**
**1,425,075**||
|||2,538|3,777
163,376
1,748|
|||48,657||
|||17,955||
|||**69,150**
**168,901**
7,109
2,333||
|||-|71,081|
|||**7,109**
**73,414**
**62,041**
**95,487**||
|||**1,487,116**
**1,520,562**||
|||-
-
1,425,075
1,425,075
24,808
32,346
37,233
63,141||
|||**1,487,116**
**1,520,562**||
Approved by the Trustees on 12 August 2025
And signed on their behalf by:
Robert Wyke, Chairman
_The notes on pages 13 to 23 form part of these accounts._
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **NOTES to the Accounts for the year ended 31 October 2024**
## **1. Accounting policies**
## **a) Basis of preparation**
The Accounts 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 (FRS 102) (effective 1 January 2019) - (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The Laurence Sterne Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The principal address of the Trust is: Shandy Hall, Coxwold, York, YO61 4AD.
- **b) Preparation of accounts on a going concern basis**
The Charity has cash resources and has no requirement for external funding. The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and have prepared the annual financial statements on the going concern basis of accounting. The Trust's funds, reserves and operations were transferred from the old Trust to the Charitable Incorporated Organisation (CIO) on 1st November 2019, permission for which was granted by the Charity Commission on 11 December 2018. The new body is designed to run the operations of the Trust and the company limited by guarantee which held the principal asset Shandy Hall. The process for transferring the property to the CIO was concluded on 10 April 2021.
## **c) Funds structure**
The unrestricted income fund comprises those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose. The restricted income fund comprises those funds that can only be used for particular purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
## **d) Income and endowments**
## _Donations and legacies_
Donations include amounts received during the year from supporters and friends.
## _Other trading activities_
Incoming resources from generated funds are comprised of income from shop sales, lectures, exhibitions and rental income from visiting artists and students. All incoming resources are recognised once the Charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Accounting policies (continued)**
## **d) Income and endowments (continued)**
## _Investments_
Investment income from bank interest is brought into the accounts gross when receivable.
## _Charitable activities_
Incoming resources from charitable activities are comprised of income from admissions during the year. Income is recognised in the period in which it is received.
## _Deferred income_
Income is only deferred and included in creditors when:
- The income relates to a future accounting period
- A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done
- Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded
## **e) Expenditure**
## _Raising funds_
The costs of generating funds include those costs associated with the promotion of the activities of the Trust. These costs are charged on the basis of the accruals concept, including irrecoverable value added tax where applicable.
## _Charitable activities_
Charitable expenditure includes all expenditure directly relating to the objects of the Trust and costs are charged on the basis of the accruals concept, including irrecoverable value added tax where applicable. Also included are governance costs which include those incurred in the governance of the Trust and its assets and primarily associated with constitutional and statutory requirements, including irrecoverable value added tax where applicable.
## **f) Taxation**
As a registered charity, the Charity is exempt from the payment of income tax in respect of its charitable activities.
## **g) Stocks**
Stocks are included at the lower of cost and net realisable value. Unsold donated items are not included in stocks.
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **Accounting policies (continued)**
## **h) Heritage fixed assets**
Fixed assets costing more than £1,000 are capitalised and included at cost. Items costing less than £1,000 are written off as an expense as acquired.
The heritage assets are held in perpetuity under the terms of the Trust's Constitution. Owing to the historic nature of Shandy Hall and the Collection (see Note 11) they are deemed to have indefinite lives and therefore the CIO values the assets at full cost or valuation with no depreciation.
## **i) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j) 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 a 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 their settlement amount after allowing for any trade discounts due.
## **k) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **l) Financial instruments**
The Trust 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.
## **m) Pensions**
The Trust operates a defined contribution scheme for its employees. Contributions are recognised in the SoFA when due and any unpaid contributions are recognised as a liability.
## **2. Remuneration and expenses of trustees**
None of the trustees received any remuneration or benefits by virtue of being a trustee of the Trust. The Trust has paid an insurance premium for museum insurance which includes trustee indemnity cover. The total premium was £4,597 (2023 - £4,268). No trustee expenses have been incurred.
15
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The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
## **3. Staff costs**
|Salaries
Pension costs|2024
£
26,452
2,653
29,105|2023
£
25,633
4,123
29,756|
|---|---|---|
The average number of employees in the year, analysed by function was:
|Management and administration of the Charity|2024
1|2023
1|
|---|---|---|
No employee received emoluments in excess of £60,000 (2023 - none).
The Charity also benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.
## **4. Related party transactions**
There were no related party transactions in the current or previous reporting periods.
## **5. Net expenditure/income**
Net expenditure/income is stated after charging the Accountant’s remuneration
|Independent Examiner Fees|2024
£
1,200|2023
£
1,122|
|---|---|---|
16
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **6. Government grants**
## **Restricted funds**
|Government’s Museum Estate and Development Fund|2024
£
137,581
137,581|2023
£
12,044
12,044|
|---|---|---|
## **2023**
- The Trust was awarded a grant of £166,540 from the Government’s Museum Estate and Development Fund (MEND) to be paid in three instalments
- The initial payment of £83,125 was received in April 2023. At the end of October 2023 £12,044 had been spent on the agreed project activities – the repair and maintenance of Shandy Hall.
- The conditions of the grant require that the agreed expenditure must be made before the grant income is drawn down - see also Note 1(d)
- The balance of £71,081 was, therefore, treated as deferred income
## **2024**
- The £71,081 deferred income was released during the year
- The second instalment of £66,500 was received in April 2024
- The third and final instalment of £16,500 was paid after submission of the final report and accounts in November 2024 and is treated as a Creditor in these accounts
## **7. Other grants**
## **Restricted funds**
A grant of £6,000 was made as a contribution to the Government’s Museum Estate and Development Fund (MEND) project.
|Historic Houses Foundation|2024
£
6,000
**6,000**|2023
£
-
**-**|
|---|---|---|
## **Designated funds**
North York Moors National Park made three grants: £384.00; £288.00; and £344.00 towards repair and maintenance works on the garden walls and gates.
|North York Moors National Park|2024
£
1,016
**1,016**|2023
£
-
**-**|
|---|---|---|
17
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The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
## **8. Income from donations and legacies**
|Donations
Individual donations
**Total donations and gifts**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
3,175
3,175
-
-
4,160
4,160|
|---|---|
||**-**
**-**
**3,175**
**3,175**
**-**
**-**
**4,160**
**4,160**|
## **9. Income from charitable activities**
|Charitable activities
Admissions
**Total charitable activities**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
6,096
6,096
-
-
7,708
7,708|
|---|---|
||**-**
**-**
**6,096**
**6,096**
**-**
**-**
**7,708**
**7,708**|
## **10. Income from other trading activities**
|Trading activities
Shop sales
Lectures & exhibitions
Rent & facilities
Rights & licences
**Total trading activities**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
8,974
8,974
-
-
7,829
7,829
-
-
5,270
5,270
-
-
10,273
10,273
-
-
1,050
1,050
-
-
2,263
2,263
-
-
5,000
5,000
-
-
41,301
41,301|
|---|---|
||**-**
**-**
**20,294**
**20,294**
**-**
**-**
**61,666**
**61,666**|
## **11. Investments**
|Investments
Bank interest
**Total investments**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
523
523
-
-
246
246|
|---|---|
||**-**
**-**
**523**
**523**
**-**
**-**
**246**
**246**|
18
�������������������� �������� �� ���� ��� ���� � �������
The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
## **12. Total resources expended**
## **Charitable activities**
|Cost of sales
**Total charitable activities**
Basis of allocation: direct|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
2,992
2,992
-
-
4,106
4,106|
|---|---|
||**-**
**-**
**2,992**
**2,992**
**-**
**-**
**4,106**
**4,106**|
|||
## **Support costs**
|Repairs & maintenance
Insurance
Rates & water
Heating & lighting
Telecommunications
Stationery, postage, marketing
Equipment
Professional fees
Subscriptions
Exhibition costs
Staff
Travel
Sundry
Bank charges
**Total support costs**
Basis of allocation: usage
**MEND grant funded project**
**Total resources expended**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
8,268
8,268
-
19,217
-
19,217
-
4,597
4,597
-
-
4,268
4,268
-
2,444
2,444
-
-
2,275
2,275
-
7,181
7,181
-
-
7,731
7,731
-
2,362
2,362
-
-
2,564
2,564
-
1,374
1,374
-
-
3,007
3,007
-
92
92
-
-
235
235
-
2,545
2,545
-
-
1,633
1,633
-
303
303
-
-
336
336
-
2,850
2,850
-
-
3,212
3,212
-
29,105
29,105
-
-
29,756
29,756
-
151
151
-
-
259
259
-
-
47
47
-
-
-
-
-
-
-
-|
|---|---|
||**-**
**8,268**
**53,004**
**61,272**
**-**
**19,217**
**55,323**
**74,540**
**143,867**
**-**
**-**
**143,867**
**12,044**
**-**
**-**
**12,044**|
|||
||**143,867**
**8,268**
**55,996**
**208.131**
**12,044**
**19,217**
**59,429**
**90,690**|
|**Professional fees relating to gov**|**ernance**
**1,200**
**1,200**
**1,122**
**1,122**|
19
�������������������� �������� �� ���� ��� ���� � �������
The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **13. Heritage fixed assets**
|_Cost or valuation_
At 1 November 2023
At 31 October 2024
Net book value
At 31 October 2024
At 31 October 2023
Valuation
Cost
**Total**|**Shandy Hall**
£
1,160,000
1,160,000
1,160,000
1,160,000
1,160,000
-
**1,160,000**|**Collection**
£
265,075
265,075
265,075
265,075
-
265,075
**265,075**|**Total**
£
1,425,075|
|---|---|---|---|
||||1,425,075|
||||1,425,075|
||||1,425,075|
||||1,160,000
265,075|
||||**1,425,075**|
Shandy Hall, the house where Laurence Sterne lived from 1760 until his death in 1768, was purchased by the original Laurence Sterne Trust in 1968 with the aim of establishing it as a public museum. It opened to the public in 1973. The freehold title of the property was transferred to The Laurence Sterne Trust Charitable Incorporated Organisation on 10 April 2021.
The Sterne Collection has been built up over time to be the most significant collection of editions of the works of Sterne. It also includes works of art and artefacts connected to Sterne. All items are catalogued and the details are available through the website. There is an acquisitions and disposals policy. Most of the collection is on public display in Shandy Hall and all items are available to view upon request. The Collection was transferred to The Laurence Sterne Trust Charitable Incorporated Organisation in 2020.
Shandy Hall and the Collection are held in trust for the furtherance of the public benefits of the Charity.
20
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **14. Stocks**
|**14. Stocks**||
|---|---|
|Stocks
Goods for resale
**Total stocks**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
2,538
2,538
-
-
3,777
3,777|
||**-**
**-**
**2,538**
**2,538**
**-**
**-**
**3,777**
**3,777**|
## **15. Debtors**
|Debtors
MEND Project
Other debtors
Prepayments
**Total debtors**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
16,625
16,625
-
-
206
206
-
-
140
140
-
-
1,124
1,124
-
-
1,608
1,608|
|---|---|
||**16,625**
**-**
**1,330**
**17,955**
**-**
**-**
**1,748**
**1,748**|
## **16. Creditors**
## **Amount falling due within one year**
|Creditors
MEND Project
Other creditors
Taxation & pensions
**Total creditors**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
4,042
4,042
-
-
-
-
-
794
1,620
2,414
-
-
1,940
1,940
-
-
653
653
-
-
393
393|
|---|---|
||**4,042**
**794**
**2,273**
**7,109**
**-**
**-**
**2,333**
**2,333**|
21
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The Laurence Sterne Trust Charity No. 1181127
Trustees’ annual report and financial statements for the year ended 31 October 2024
## **17. Deferred income See also Notes 1.(d) and 6.**
|Balance at 1 November
Released during the year
Provided at 31 October
**Balance at 30 September**|**2023/24**
**£**
71,081
(71,081)
-
**-**|**2022/23**
**£**
-
-
71,081
**71,081**|
|---|---|---|
## **18. The Charity’s funds**
## **Financial year ending 31 October 2024**
|**Restricted funds**
MEND Grant Project
**Total restricted funds**
**Designated funds**
Heritage assets
Repair & maintenance
**Total designated fund**
**General unrestricted funds**|**Brought**
**Incoming**
**Outgoing**
**Net gains/**
**Transfers**
**Carried**
**forward**
**resources**
**resources**
**(losses)**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
143,581
143,867
(286)
286
-|
|---|---|
||-
**143,581**
**143,867**
**(286)**
**286**
**-**
1,425,075
-
-
-
-
1,425,075
32,346
1,016
8,268
(7,252)
(286)
24,808|
||**1,457,421**
**1,016**
**8,268**
**(7,252)**
**(286)**
**1,449,883**
**63,141**
**30,088**
**55,996**
**(25,908)**
**-**
**37,233**|
|**Total funds**|**1,520,562**
**174,685**
**208,131**
**(33,446)**
-
**1,487,116**|
|NOTE: The transfer of funds from unrestricted to designated (repair & maintenance) was agreed by Trustees on 27 April 2023.
**Previous financial year ending 31 October 2023**
**Brought**
**Incoming**
**Outgoing**
**Net gains/**
**Transfers**
**Carried**
**forward**
**resources**
**resources**
**(losses)**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
**Restricted funds**
MEND Grant Project
-
12,044
12,044
-
-
-
**Total restricted funds**
-
**12,044**
**12,044**
**-**
**-**
**-**
**Designated funds**
Heritage assets
1,425,075
-
-
-
-
1,425,075
Repair & maintenance
31,563
-
19,217
(19,217)
20,000
32,346
**Total designated fund**
**1,456,638**
**-**
**19,217**
**(19,217)**
**20,000**
**1,457,421**
**General unrestricted funds**
**68,790**
**73,780**
**59,429**
**14,351**
**(20,000)**
**63,141**||
||-
**12,044**
**12,044**
**-**
**-**
**-**
1,425,075
-
-
-
-
1,425,075
31,563
-
19,217
(19,217)
20,000
32,346|
||**1,456,638**
**-**
**19,217**
**(19,217)**
**20,000**
**1,457,421**
**68,790**
**73,780**
**59,429**
**14,351**
**(20,000)**
**63,141**|
|**Total funds**|**1,525,428**
**85,824**
**90,690**
**(4,866)**
-
**1,520,562**|
NOTE: The transfer of funds from unrestricted to designated (repair & maintenance) was agreed by Trustees on 27 April 2023.
22
�������������������� �������� �� ���� ��� ���� � �������
The Laurence Sterne Trust Charity No. 1181127 Trustees’ annual report and financial statements for the year ended 31 October 2024
## **19. The Charity’s assets and liabilities**
|Fixed assets
Current assets
Current liabilities
**Total net assets (liabilities)**|**Restricted**
**Designated**
**Unrestricted**
**Total**
**Restricted**
**Designated**
**Unrestricted**
**Total**
**Funds**
**Funds**
**Funds**
**2024**
**Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
-
1,425,075
-
1,425,075
-
1,425,075
-
1,425,075
4,042
25,602
39,506
69,150
-
32,346
136,555
168,901
(4,042)
(794)
(2,273)
(7,109)
-
-
(73,414)
(73,414)|
|---|---|
||**-**
**1,449,883**
**37,233**
**1,487,116**
**-**
**1,457,421**
**63,141**
**1,520,562**|
23