2021-01-31-accounts - New Forest Heritage Trust

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Trustees	HonMrsMRMontagu-Scott(Chairman)
	MrRErrington-resigned7December2020
	HonDrEPage
	MrJPemberton
	MrECSutton(Secretary)
	MsNMartenstyn-resigned12February2020
	MrsJNeylon-resigned17March2021
	MrPGPower
	MrBSurman
	MrDAAdams-appointed9March2020
	MsJBroomfield-appointed2April2021
	MrMRHarris-appointed7December2020
	MrDHickman-appointed24March2020
	MrMShaw-appointed9March2020
	MsSLWilliams-appointed13February2020
Secretary	MrECSutton
Centremanager	GilesGould
Charitynumber	1186656
Companynumber	11787042
Principaladdress	NewForestMuseum
	Lyndhurst
	Hampshire
	S0437NY
IndependentExaminer	FianderTovellLimited
	StagGatesHouse
	63/64TheAvenue
	Southampton
	Hampshire
	S0171XS
Bankers	LloydsTSB pic
	39HighStreet
	Lymington
	Hampshire
	S0419ZF
Investmentadvisors	Sanlam
	SolentHouse
	CannonStreet
	Lymington
	Hampshire
	S0419BR

		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	fund	2021	2020
	Notes	£	£	£	£	£
Incominqresources
Incomingresourcesfrom:
Donationsandlegacies	3	212,803	139,550	-	352,353	93,533
Charitableactivities	6	1,265	.	.	1,265	15,072
Other tradingactivities	4	115,075	.	-	115,075	259,198
Investments	5	2	.	22,222	22,224	31,472
Otherincdfhingresources	7	47,095	-	-	47,095	8,229
Totalincomingresources		376,240	139,550	22,222	538,012	407,504
Resourcesexpended
Expenditureon:
Raisingfunds		141,258	_	.	141,258	223,493
Charitableactivities	8	184,394	60,345	-	244,739	266,323
Totalresourcesexpended		325,653	60,345	-	385,998	489,816
Netincome/(expenditure)for	theyear/
Netincoming/(outgoing)resources
beforegains/lossesoninvestments		50,587	79,205	22,222	152,014	(82,312)
Otherrecognisedgainsandlosses
Gains/(losses)oninvestments		-	-	13,786	13,786	113,036
(Losses)/gainsonrevaluationoffixed		-	-	-	-	-
assets
Netincoming/(outgoing)
resourcesbeforetransfers		50,587	79,205	36,008	165,800	30,724
Transfersbetweenfunds		80,035	(35,822)	(44,213)	-	-
Netmovementinfunds		130,622	43,383	(8,205)	165,800	30,724
Fundbalancesat1February2020		293,433	1,399,138	1,105,324	2,797,895	2,767,171
Fundbalancesat31January	2021	424,055	1,442,521	1,097,119	2,963,695	2,797,895

		Group	Group	Charity	Charity
		2021	2020	2021	2020
	Notes	£	£	£	£
Fixedassets
Tangibleassets	14	1,516,641	1,487,254	1,517,301	1,485,633
Heritageassets	15	9,000	9,000	9,000	9,000
Intangibleassets	16	6,129	6,662	6,129	6,662
Investments	17	1,058,874	1,073,378	1,058,876	1,073,380
		2,590,644	2,576,294	2,591,306	2,574,675
Currentassets
Stocks	18	37,641	28,515	2,147	2,220
Debtors	19	15,630	23,404	16,105	20,472
Cashatbankandinhand		346,518	208,910	292,430	108,835
		399,789	260,829	310,682	131,527
Creditors:amountsfallingduewithin
oneyear	20	(26,738)	(39,228)	(16,274)	(27,135)
Netcurrentassets		373,051	221,601	294,408	104,392
Totalassetslesscurrentliabilities		2,963,695	2,797,895	2,885,714	2,679,067
Netassets		2,963,695	2,797,895	2,885,714	2,679,067
Incomefunds
Restrictedfunds	23	1,442,521	1,399,138	1,442,521	1,399,138
Endowmentfunds	24	1,097,119	1,105,324	1,097,119	1,105,324
Unrestricted funds	25	424,055	293,433	346,074	174,605
		2,963,695	2,797,895	2,885,714	2,679,067

	2021		2020
	£	£	£	£
Cashflowsfromoperatingactivities:
Netcashprovided by/(usedin)operatingactivities		132,736		(99,690)
Cashflowsfrominvestingactivities:
Investmentincome	22,224		31,472
Purchaseofproperty,plantandequipment	(40,782)		(7,389)
Purchaseof intangiblefixedassets	(4,860)		(1,620)
Purchaseofinvestments	(668,564)		(282,953)
Movementincashtradingaccountwithininvestmentportfolio	(24,374)		(31,395)
Proceedsfromsaleofinvestments	721,228		328,272
Netcashprovidedby/(usedin)investingactivities		4,872		36,387
Changeincashandcashequivalents		137,608		(63,303)
Cashandcashequivalentsatthebeginningofthereporting		208,910		272,213
Cashandcashequivalentsattheendofthereporting	period	346,518		208,910
Reconciliationofnetincome/(expenditure)tonetcashflowfromoperatingactivities
Netincome/(expenditure)forthereportingperiod		165,800		30,724
Adjustmentsfor:
Depreciationcharges		11,395		8,256
Amortisationcharges		324		1,294
Investmentincome		(22,224)		(31,472)
(lncrease)/decreaseinstock		(9,126)		2,005
(Increase)/decreaseindebtors		7,774		(4,073)
lncrease/(decrease)increditors		(12,490)		6,612
(Gains)/lossesontangiblefixedassets
(Gains)/lossesonintangiblefixedassets		5,069		-
(Gains)/lossesoninvestments		(13,786)		(113,036)
Netcashprovided by/(usedin)operatingactivities		132,736		(99,690)

Donationsandlegacies
	Unrestricted	Restricted
	funds	funds		2021	2020
	£		£	£	£
Donations	17,012		-	17,012	27,583
Grantsreceivable:
NewForest DistrictCouncil	-		.	.	12,500
NewForestDistrictCouncil-Covid19	17,571		-	17,571	.
TheRetaLilaHowardFoundation	-	17,000		17,000	17,000
NewForestCommoningTrust-LibraryProject	.	30,000		30,000	-
Barker-MillFoundation	-		-	-	10,000
CliveBowring Trust	-		-	-	6,000
Beaulieu Beaufort-CapitalFundRaiser	-	22,000		22,000	-
CarolineMontaguWestonFund	-	15,000		15,000	20,000
CarolineMontaguWestonFund-Covid19	25,000		-	25,000	-
GarfieldWeston-Covid19	25,000		-	25,000	-
JohnBrewer	-		-	-	200
WMPease	-		-	-	250
NationalHeritageLotteryGrant-Covid19	48,500		-	48,500	-
NFTrustGrant	2,500		-	2,500	-
NationalLotteryCultureRecoveryFund-Covid1£	77,220		-	77,220	-
RuralDevelopmentProgrammeforEngland	-	31,550		31,550	-
-LeaderGrant
ButterfieldTrust	-	24,000		24,000	-
	212,803	139,550		352,353	93,533
Thebreakdownofthecomparativefigurebetweenfundsisas		follows:
Donationsandlegacies	50,223	43,310		93,533
Othertradingactivities
				2021	2020
				£	£
Hireofrooms andequipment				135	1,747
Hireofvisitorinformationcentre				7,045	11,980
Salesofbooks				249	586
Incomefromtradingsubsidiary(saleofgoods)				107,646	244,885
Incomefrom othertradingactivities				115,075	259,198

NEW FOREST HERITAGE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 Page 16

Investmentincome
	Unrestricted	Endowment
	funds	fund	2021	2020
			£	£
Interestreceivable	2		2	311
Investmentportfolioincome		22,222	22,222	31,161
	2	22,222	22,224	31,472
Thebreakdownofthecomparativefigurebetweenfundsisas		follows:
Investmentincome	311	31,161	31,472
Incomefromcharitableactivities
	Unrestricted	Restricted	2021	2020
	funds	funds	£	£
Incomefrommuseumandteaching	1,265	-	1,265	15,072
Charitableactivitiesrelateswhollytounrestrictedfundsforboththecurrentandpreviousyear.

	Unrestricted	Restricted	2021	2020
	funds	funds	£	£
Royaltiesandsundryincome	4,055	-	4,055	8,229
Grantsreceivable-CJRS	43,040		43,040
	47,095	.	47,095	8,229

				2021	2020
	Direct	Support	Governance
	costs	costs	costs	Total	Total
	£	£	£	£	£
Museumandlibrary	29,040	129,537	19,274	177,851	164,716
Educationandpromotion	6,112	52,516	8,260	66,888	101.607
	35,152	182,053	27,534	244,739	266,323
					Page17

				2021	2020
		Education
	Museum	and		Total	Total
Costtype	andlibrary	promotion	Grants	allocated	allocated
	£	£	£	£	£
Ratesandwater	1,267	413	.	1,680	9,998
Light,heatandinsurance	9,789	3,196	-	12,985	8,561
Repairs	18,308	5,976	-	24,284	21,988
Staffcosts	63,832	27,356	-	91,188	72,852
Travel	156	67	-	223	689
Depreciation	6,857	2,939	-	9,796	6,125
Depreciation-assetsfromshop
andmuseumrefurbishmentfund	1,119	480	.	1,599	2,132
Amortisation	227	97	.	324	1,294
Lossondisposalofintangibles	3,548	1,521	-	5,069	-
Telephone	2,444	1,047	-	3,491	9,218
Advertisingandpromotion	5,248	2,249	-	7,497	11,468
Officecosts	16,742	7,175	-	23,917	16,589
	129,537	52,516	-	182,053	160,914

				2021	2020
		Education
	Museum	and	Raising	Total	Total
	andlibrary	promotion	funds	allocated	allocated
	£	£	£	£	£
Bookkeeping	5,667	2,428	7,820	15,915	17,030
Auditor/Independent examiner'sfees	2,268	972	2,700	5,940	6,058
Interestpayable	11,339	4,860	-	16,199	11,090
Investmentportfoliomanagementfees	-	-	6,061	6,061	6,115
	19,274	8,260	16,581	44,115	40,293

	2021	2020
	£	£
Independentexamination	3,240	2,625
Otherservices	2,700	3,433
	5,940	6,058

	Unrestricted	Restricted
	funds	funds	Total
	£	£	£
Raisingfunds	223,493	.	223,493
Charitableactivities	226,794	39,529	266,323
	450,287	39,529	489,816

Numberofemployees Theaveragenumberofemployeesduringtheyear	was:
	2021	2020
	Number	Number
Museumstaff	6	6
Librarystaff	1	1
Educationstaff	-	1
Shopstaff	9	10
	16	18
Parttime	12	15
Fulltime	4	3
	16	18
Fulltimeequivalents	7	8
Employmentcosts
	2021	2020
	£	£
Wagesandsalaries	168,174	202,464
Socialsecuritycosts	6,937	10,424
Otherpensioncosts	4,754	6,350
	179,865	219,238

Group	Leasehold		Equipment,		Paintings
	&freehold		furniture		and
	property	Land	anddisplay	Library	artefacts	Total
	£	£	£	£	£	£
CostorValuation
At1February2020	1,400,000	5,250	198,193	45,266	21,738	1,670,447
Additions	5,194		35,588			40,782
Disposals
Revaluations
At31January2021	1,405,194	5,250	233,781	45,266	21,738	1,711,229
Depreciation
At1February2020	-	-	183,193			183,193
Ondisposals				-	-
Chargeforyear			11,395			11,395
At31January2021	-	-	194,588	-	-	194,588
NetBookValue
At31January2021	1,405,194	5,250	39,193	45,266	21,738	1,516,641
At1February2020	1,400,000	5,250	15,000	45,266	21,738	1,487,254

	Charity	Leasehold		Equipment,		Paintings
		&freehold		furniture&		and
		property	Land	display	Library	artefacts	Total
		£	£	£	£	£	£
	CostorValuation
	At1February2020	1,400,000	5,250	51,812	45,266	21,738	1,524,066
	Additions	5,194	-	35,588	-	-	40,782
	Disposals	-	-	-		-	-
	Revaluations	-	-	-	-	-	-
	At31January2021	1,405,194	5,250	87,400	45,266	21,738	1,564,848
	Depreciation
	At1February2020	-	-	38,433	-	-	38,433
	Ondisposals	-	-	-	-	-	-
	Chargeforyear	-	-	9,114	-	-	9,114
	At31January2021	-	-	47,547	-	-	47,547
	NetBookValue
	At31January2021	1,405,194	5,250	39,853	45,266	21,738	1,517,301
	At1February2020	1,400,000	5,250	13,379	45,266	21,738	1,485,633
15	Heritageassets
						Group	Charity
						2021	2021
						£	£
	CostandNetBook	Value
	At1February2020					9,000	9,000
	Additions					-	-
	At31January2021					9,000	9,000

		Website
		costs	Total
		£	£
Cost
At1February2020		7,956	7,956
Additions		4,860	4,860
Disposals	-	6,336-	6,336
At31January2021		6,480	6,480
Depreciation
At1February2020		1,294	1,294
Ondisposals	-	1,267-	1,267
Charge foryear		324	324
At31January2021		351	351
NetBookValue
At31January2021		6,129	6,129
At1February2020		6,662	6,662

Fixedassetinvestments
	Quotedinvestments
	Cashtrading
	account	Shares	Total
	£	£	£
Marketvalueat1February2020	39,460	1,033,918	1,073,378
Acquisitionsatcost	(668,564)	668,564	-
Disposalsinyear	711,284	(711,284)	-
Income	22,222	-	22,222
Realisedgain	9,944	-	9,944
Managementcharge	(6,060)	-	(6,060)
Drawdownofcash	(44,452)	-	(44,452)
Changeinvaluefortheyear	-	3,842	3,842
Marketvalueat31January2021	63,834	995,040	1,058,874
Historiccost:
At31January2021	63,834	901,823	965,657
At31January2020	39,460	877,561	917,021

Stock
	Group		Charity
	2021	2020	2021	2020
	£	£	£	£
Goodsforresale	37,641	28,515	2,147	2,220
	37,641	28,515	2,147	2,220

Debtors
	Group		Charity
	2021	2020	2021	2020
	£	£	£	£
Tradedebtors	1,350	220	1,315	220
Amountsowedbygroup undertakings	-	-	510	-
Otherdebtors	7,596	11,705	7,596	11,705
Prepaymentsandaccruedincome	6,684	11,479	6,684	8,547
	15,630	23,404	16,105	20,472

	Group		Charity
	2021	2020	2021	2020
	£	£	£	£
Amountsowedtogroupundertakings	.	-	-	986
Tradecreditors	3,995	17,898	3,654	14,484
Taxesandsocial securitycosts	5,295	7,486	3,420	2,188
Accruals	17,448	13,846	9,200	9,477
	26,738	39,228	16,274	27,135

	Group		Charity
	2021	2020	2021	2020
	£	£	£	£
Deferredincomebroughtforward	-	-	-	-
Releasedinyear	....
Incomedeferred	....
Deferredincomecarriedforward

Financialinstruments
	Group		Charity
	2021	2020	2021	2020
	£	£	£	£
Carryingamountoffinancialassets
Equityinstrumentsmeasuredatfairvalue	1,058,874	1,073,378	1,058,874	1,073,378

Restrictedfunds
			Movement	infunds
				Resources
		Balanceat		expended/		Balanceat
		1February	Incoming	Investment		31January
		2020	resources	losses	Transfers	2021
Notes		£	£	£	£	£
Buildingfund	i)	1,354,228	-		-	1.354,228
RetaLilaHowardfund	ii)	13,142	17,000	(6,398)	-	23,744
Beauiieu Beaufort	iii)	-	22,000	(18,989)	-	3,011
JohnBurrylibraryfund	iv)	5,213	-	(780)	(4,433)	-
Libraryfund	v)	1,500	-	(1,061)	(439)	-
OliverCrosthwaite-Eyrefund	vi)	1,958	-	(1,958)	-	-
NPAtransition	vii)	36	-	-	(36)	-
FBLaurencefund	viii)	3,000	-	(3,000)		-
Masterplan	ix)	10,061	-	(4,001)	(6,060)	-
CarolineMontagu	x)	10,000	15,000	(5,256)	(914)	18,830
Westonfund
Libraryproject	xi)	-	85,550	(18,902)	(23,940)	42,708
		1,399,138	139,550	(60,345)	(35,822)	1,442,521

	Balanceat	Movementinfunds	Movementinfunds		Balanceat
	1February	Incoming	Resources		31January
	2019	resources	expended	Transfers	2020
	E			£	£
Buildingfund	1,354.228				1,354.228
Collections assistant	14		(14)
RetaLilaHowardfund	2,885	17,000	(6,743)		13,142
Barker-MillFoundation	11,317	10,000	(21,317)
AIMS	2,981			(2,981)
JohnBurrylibraryfund	5,213				5,213
HLFtransitionfund	9,231			(9,231)
HLF-3	10,000			(10,000)
Libraryfund	1,500				1,500
CarolineMontagu		10,000			10,000
WestonFund
Masterplan		6,310	(10,691)	14,442	10,061
OliverCrosthwaite-Eyrefund	1,958				1,958
NPAtransition	800		(764)		36
FBLaurencefund	3,000				3,000
	1,403,127	43,310	(39,529)	(7,770)	1,399,138

Endowmentfund
		Movementinfunds
	Balanceat			Investment		Balanceat
	1February	Incoming	Resources	gains/		31January
	2020	resources	expended	(losses)	Transfers	2021
	£	£	£	£	£	£
Expendable
endowmentfund	1,105,324	22,222		13,786	(44,213)	1,097,119

Unrestrictedfunds
		Movement	infunds
	Balanceat			Investment		Balanceat
	1February	Incoming	Resources	gains/		31January
	2020	resources	expended	(losses)	Transfers	2021
	£	£	£		£	£
Unrestricted funds	293,433	376,240	(325,653)		80,035	424,055
	293,433	376,240	(325,653)		80,035	424,055

	Unrestricted	Restricted	Endowment
	funds	funds	funds	Total
	£	£	£	£
Fundbalancesat31January2021 arerepresentedby:
Tangiblefixedassets	162,413	1,354,228	-	1,516,641
Intangiblefixedassets	6,129	-	-	6,129
Heritageassets	9,000	-	-	9,000
Investments	-	-	1,058,874	1,058,874
Othernetassets	26,533	-	-	26,533
Bankandcash	219,980	88,293	38,245	346,518
	424,055	1,442,521	1,097,119	2,963,695
Fund balancesat31January2020arerepresentedby:
Tangiblefixedassets	133,026	1,354,228	-	1,487,254
Intangiblefixedassets	6,662	-	-	6,662
Heritageassets	9,000	-	-	9,000
Investments	-	-	1,073,378	1,073,378
Othernetassets	12,691	-	-	12,691
Bankandcash	132,054	44,910	31,946	208,910
	293,433	1,399,138	1,105,324	2,797,895

	Groupand	charity
	2021	2020
	£	£
Withinoneyear	1,452	1,718
Between twoandfiveyears	755	2,049
	2,207	3,767
Leasepaymentsrecognisedas anexpenseduringtheyear	1,693	963

	2021	2020
	£	£
Turnover	107,646	244,885
Staffcosts	(60,840)	(62,878)
Otheroperatingcosts	(75,225)	(151,562)
Rentpaidtoparent	(5,000)	(5,000)
Donationtoparentcharity	(23,786)	(47,223)
Netprofit/(loss)	(39,248)	(21,778)

Assets	94,678	137,630
Liabilities	(15,771)	(19,475)
Reserves	78,907	118,155

	1February		31January
	2020	Cashflows	2021
Cashatbankandinhand	208,910	137,608	346,518