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2025-03-31-accounts

Registered Charity number 1187777 (England and Wales)

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

LEGAL AND ADMINISTRATIVE DETAILS

Chairman Dr Stephen Wallace MBE
Trustees Dr Stephen Wallace MBE
Mr Michael Gerard Rhodes Lowe
Mr Brendan Scoular
Mrs Paula Timberlake
Mr Nigel John Cunnington
Mr Stephen Arthur Binns
Mr Craig Keith Peter Mapleston
Mr Christopher John Dakin
Contact address Sherwood Observatory
Coxmoor Road
Sutton in Ashfield
NG17 5LF
Registered Charity Number
England & Wales 1187777
Bankers HSBC Bank plc
1 Leeming Street
Mansfield
Nottinghamshire
NG18 1LU
Advisors (general) Auditors Stopfords (Mansfield) Ltd
Synergy House
7 Acorn Business Park
Commercial Gate
Mansfield
Nottinghamshire
NG18 1EX
Specialist advisors PKF Smith Cooper
2 Lace Market Square
Nottingham
NG1 1PB

Advisors (Science Discovery Centre project management)

Browne Jacobson Mowbray House Castle Meadow Road Nottingham NG2 1BJ

Pick Everard Halford House Charles Street Leicester LE1 1HA

Liz Barrett OBE Martin Rigley OBE Alex Peace - Gadsby OBE Paul Humphries Colin Hutcheson

1

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

Trustees of the charity

The trustees who have served during the year and since the year end were as follows:

Dr Stephen Wallace Mr Michael Gerard Rhodes Lowe Mr Brendan Scoular Mrs Paula Timberlake Mr Nigel John Cunnington Mr Stephen Arthur Binns Mr Craig Keith Peter Mapleston Mr Christopher John Dakin

Power to appoint trustees rests with the board of trustees, by reference to a process defined in the Constitution.

Training of new trustees,

The Charity recognises the requirement to keep Trustees current in order to best administrate the charity and give help and advice to the volunteer team. Training and updates on technical aspects of the observatory and updates from the Charity Commission are given and circulated as frequently as possible.

Objects of the charity

To promote and advance the education of the public in the theory and practice of astronomy and related subjects.The provision and maintenance of facilities for the use of the inhabitants of Nottinghamshire and surrounding counties.

Organisation of the charity

The charity is governed by its Constitution, issued on 5 February 2020, as amended on 29 September 2020 and 14 August 2024.

The running of the charity is overseen by a board of trustees. The trustees meet monthly to oversee the operation and development of the observatory. The Charity aims to have about ten trustees who together bring to the board a selection of competencies to support the technical aspects of the observatory and its equipment and general management of the Charity. Trustees are re-eletcted annually at the AGM, the Chair is limited to a two year term, in the event there is no other candidate the Chair may serve a further two years.

The trustees manage the charity's finances through a rigorous budgeting and monitoring process. This process begins with the annual budget which is approved by the trustees and continually monitored against actual outcomes. Financial information is also reviewed at the regular management meetings with the Chairman.

Fundraising Practices

The charity does not carry out regular significant fundraising activities.

Review of the year

Funds are in a good position with sufficient operating income and funding for the Science Discovery Centre .

A full review of our activities during the year can be found in the trustees annual report.

The charity’s principal sources of funds (including any fundraising).

The charity's regular income includes membership fees, entry fees to public events, course fees, private group visits and general public donations towards the upkeep and maintenance of the Observatory.

We also attract grants from the government, private sector funders, the National Lottery Heritage Fund and donations towards the planetarium and science discovery centre build.

2

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

The charity opened its new Planetarium and Science Centre to the public on 25th November 2024. This was the culmination of many years of effort by the members to promote the idea, raise the required funding, and deliver the construction project itself. The Trustees wish to express their gratitude for the dedication of its loyal membership and to the public sector, private sector and individual sponsors and donors who have helped us to turn our vision into reality.

The new Centre received over 13,000 visitors between opening and financial year end, significantly out pacing the run rate required to achieve the 20,000 visitors per annum on which the business plan was based. However, the Trustees note that the true annual visitor numbers will remain uncertain until the new Centre has been in operation for a full 12 months so that we can assess the anticipated seasonal variation in demand.

The increased visitor numbers have allowed us to appoint two full time members of staff, with interviews currently taking place for a further 1.5 full time equivalents. This delivers on our commitment to made to some of our funders to create jobs as a result of their investment.

Plans for the future

Much of the work in 2025/26 will consist of bedding in and refining our business plan in light of real-world experience of operating the new Centre. A review of the mix of defined Trustee roles will be undertaken so that our management structure is best placed to match our new operational priorities and profile.

We had to close and relocate our Radio Astronomy Centre to accommodate construction of the new Centre, so we are planning to upgrade and reopen that during 2025/26. We are also investigating refurbishment, and potentially extension of, the original observatory in order to bring it up to the high standards set by our new facilities.

Public Benefit

With opening of the new Centre, we are better able to offer activities all year round, although we still anticipate that peak demand will be in the autumn and winter months when the main observatory can be used for star gazing (weather permitting). Our current mix of activities consists of:

9.Work experience opportunities for high school students and further education students. We also work with Academy Transformation Trust Further Education (ATTFE College) to offer real world customer service training and experience for their learners through our onsite café.

In compiling this report, the Trustees confirm that they have had due regard to the public benefit guidance issued by the Charity Commission and the objectives of the charity, as set out in our Constitution.

Reserves policy

The charity has a formal reserves policy, in which the trustees try to keep enough funds in reserve to cover half a year of general running and maintenance costs. This is achieved by notification of financial position at each monthly trustee meeting, and reviews of current and planned expenditure as needed.

3

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

There are no specific restrictions on the trustees' investment powers. The Charity has no long-term investments or endowments. Cash surplus to monthly requirements is held in savings accounts.

Risk analysis

Risk management is the process of making and carrying out decisions that will minimise the adverse effect of accidental losses upon the Charity. The risk management process is vital to the personal health and safety of the Trustees, volunteers and the public. In financial terms, it is vital to our ability to pursue our goals, commence and operate programs and events, and to work out our charitable aim in an efficient and professional manner.

The trustees of the Charity have put in place a risk management strategy to pursue risk management goals and objectives. These goals and objectives include:

I. Avoiding exposure to accidental loss by not undertaking events, contracts, or activities where the potential loss is greater than the potential benefit to be derived from these undertakings,

  1. Preventing loss by identifying potential loss exposures and implementing policies and procedures to reduce the risk of these losses occurring,

  2. Controlling losses that do occur by:

  3. a. Developing contingency plans for possible loss scenarios

  4. b. Proper documentation and investigation of losses

  5. Raising the awareness of all Trustee board members and volunteers concerning risk management.

These goals and objectives will be accomplished by monitoring actvities on a continual basis and reporting any forthcoming risks to the chairman of the trustees,

  1. Cooperation is needed from all Trustees and volunteers. Only by working as a team with common goals and objectives can we ensure the success of this risk management strategy and its part in working out our aims and vision.

Trustees responsibilities

The trustees are responsible for preparing financial statements in accordance with applicable law and United Kingdom generally accepted accounting practice.

Charity law requires the trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Charity law the trustees must not approve the financial statements unless they are satisified that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:

Select suitable accounting policies and apply them consistently,

Make judgements and estimates that are reasonable and prudent,

Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also resonsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

Auditors

A resolution proposing that Stopfords (Mansfield) Ltd be re-appointed as Auditors of the charity will be put to the Annual General Meeting.

4

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Trustees statement of disclosure to the auditor

We, the trustees of the charity who held office at the date of approval of these Financial Statements, as set out above, each confirm so far as we are aware, that:

By order of the board of trustees

……………………………………………………. Mrs Paula Timberlake Trustee

Date:………………………………………..

5

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

Opinion

We have audited the financial statements of Mansfield and Sutton Astronomical Society (the ‘charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

•have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

6

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

INDEPENDENT AUDITOR’S REPORT (CONT) TO THE TRUSTEES OF MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

7

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

INDEPENDENT AUDITOR’S REPORT (CONT) TO THE TRUSTEES OF MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

• We obtained an understanding of laws and regulations that affect the charity, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the Charities Act 2011, Charities Act 2022, the Charities (Accounts and Reports) Regulations 2008 and Charity Commission guidance.

•We enquired of the trustees, reviewed correspondence and reviewed trustees meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the trustees have in place to ensure compliance.

• We gained an understanding of the controls that the trustees have in place to prevent and detect fraud. We enquired about any incidences of fraud that had taken place during the accounting period.

• The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: misappropriation of cash and other assets.

• We reviewed financial statement disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.

• We enquired of the trustees about actual and potential litigation and claims.

• In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

• We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Phillip Nicholson (Senior Statutory Auditor) for and on behalf of Stopfords (Mansfield) Ltd Chartered Accountants Statutory Auditor

Date:

…............................

Synergy House 7 Acorn Business Park Commercial Gate Mansfield Nottinghamshire NG18 1EX

8

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
INCOMING RESOURCES:
3
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total Income and endowments:
RESOURCES EXPENDED:
5
Expenditure on:
Raising funds:
Charitable activities
Separate material item of expense
Other
Total resources expended
Net income/(expenditure) before transfers
Transfers between funds
Other recognised gains / (losses):
Capitalisation of tangible fixed assets
Net income/(expenditure) after transfers
Balances brought forward at 1 April 2024
Balances carried forward at 31 March 2025		 Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
7,573 2,290,606
2,298,179
3,940,286
125,407
-
125,407 19,381
28,892
-
28,892 4,486
784 36,550
37,334 56,733
162,657
2,327,156
2,489,813
4,020,885
9,908
-
9,908
2,251
-
114,356
47,620
161,976
18,492
-
-
43,100
43,100
11,946
-
3,600
-
3,600
3,850
-
-
127,865
90,720
218,584
36,540
34,792
2,236,436
2,271,228
3,984,346
-
-
96,904
34,792
2,236,436
2,271,228
4,081,250
121,792
4,473,002
4,594,795
513,545
156,584
6,709,439
6,866,023
4,594,795

The notes on pages 12 to 18 form part of these financial statements.

9

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025

----- Start of picture text -----
Notes 2025 2024
£ £ £ £
Fixed assets
Tangible fixed assets 9 6,012,473 2,903,725
Current assets
Stock 10 2,425 2,492
Debtors 11 748,422 11,298
Bank and cash 12 157,072 2,076,135
907,919 2,089,925
Creditors: Amounts falling due within
one year 13a 54,369 398,855
Net current assets/(liabilities) 853,550 1,691,070
6,866,023 4,594,795
Creditors: Amounts falling due in more
than one year 13b
Total assets less current liabilities 6,866,023 4,594,795
Charity funds
Unrestricted 14 156,584 121,792
Restricted funds 14 6,709,439 4,473,002
Total charity funds 6,866,023 4,594,795
----- End of picture text -----

The financial statements were approved by the trustees on:

…..................................................... Mrs Paula Timberlake Trustee Registered Charity Number England & Wales 1187777

The notes on pages 12 to 18 form part of these financial statements.

10

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Net income/(expenditure)
Adjustments for:
Depreciation of tangible fixed assets
Other interest receivable and similar income
Loss on disposal of tangible fixed assets
Accrued expenses
Changes in:
Stocks
Trade and other debtors
Trade and other creditors
Cash generated from operations
Interest received
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible assets
Proceeds from sale of tangible assets
Net cash from/(used in) investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
12		 2025
£
2,271,228
40,394
(37,334)
67
(737,124)
(344,486)
1,192,745
37,334
1,230,079
(3,149,142)
(3,149,142)
(1,919,063)
2,076,135
157,072		 2024
£
4,081,250
4,889
(56,733)
(10,578)
398,855
4,417,683
56,733
4,474,416
(2,777,636)
(2,777,636)
1,696,780
379,355
2,076,135

The notes on pages 12 to 18 form part of these financial statements.

11

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

a. Basis of accounting

Mansfield and Sutton Astronomical Society is a Charitable Incorporated Organisation (CIO), registered in England and Wales. The registered office is Sherwood Observatory, Coxmoor Road, Sutton in Ashfield, NG17 5LF.

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. The financial statements are presented in sterling which is the functional currency of the charity.

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.

b. Judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

c. Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Depreciation

The trustees review depreciation rates and useful lives of the tangible fixed assets on an annual basis to ensure the effects of usage, wear and tear or technical obsolescence are reflected in the carrying value of the asset.

Impairment

The trustees review fixed assets for indications of impairment in conjunction with review of depreciation above. The company has policies in place to review assets on an ongoing basis.

d. Going concern

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

The trustees have considered the level of cash, current assets held and the expected level of income and expenditure for 12 months from authorising these financial statements, making allowance for all available information.

The trustees consider that the Charitys main activities are underpinned adequately by grants, donations and income from Charitable actvities. After careful consideration and evaluation of current management information and forecasts they continue to adopt the going concern basis of preparation.

e. Financial instruments

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 the profit and loss account in other administrative expenses.

12

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

f. 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.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

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 when entitlement has occurred.

The charity receives government grants in respect of the Science Discovery Centre. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

g. Investment assets and the income arising

Investment income is treated as income when received.

h. Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

i. Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

j. Fund raising

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.

k. Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers and office equipment at a rate of 33% per annum.

Fixtures, fittings and observatory equipment at a rate of 33%/10% per annum.

l. Funds accounting

Funds held by the charity are:

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.

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.

m. Stock

Stock is stated at lower of cost and net realisable value.

13

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2.Income and expenditure account
Is arrived at after charging/(crediting)
Auditors fee
3.Analysis of income
Donatiions and legacies:
Donations and gifts
Gift aid
General grants provided by government/other funding bodies
Charitable activities:
Membership fees
Public events, group visits and courses
Mansfield museum exhibition
Other trading activities:
Merchandise sales
Refreshment sales
Other
Income from investments:
Interest received
4. Analysis grants received
SDC Project - Ashfield District Council, Towns Deal Project
SDC Project - Heritage Fund
SDC Project - Ashfield District Council
SDC Project - Levelling Up Fund
SDC Project - Garfield Western Foundation
SDC Project - Mansfield Building Society
SDC Project - The Foyle Foundation
SDC Project - Neighbourly Foundation
SDC Project - Wolfson Foundation
SDC Project - Nottingham Regeneration Trust
SDC Project - Abellio East Midlands
SDC Project - Trans East Changing Room Grant
SDC Project - National Lottery Heritage Grant
SDC Project - Ashfield Enterprise Grant
SDC Project - Derbyshire Chamber of Commerce		 2025
2024
£
£
3,600
3,600
Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
7,536
12,242
19,778
27,405
37
3,877
3,914
2,095
2,274,488
2,274,488
3,910,786
7,573
2,290,606
2,298,179
3,940,286
12,169
12,169
9,020
113,238
113,238
10,361
-
-
-
125,407
-
125,407
19,381
9,886
9,886
2,968
17,223
17,223
1,388
1,783
1,783
131
28,892
-
28,892
4,486
784
36,550
37,334
56,733
Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
208,004
208,004
-
179,688
179,688
-
353,000
353,000
1,556,786
1,425,000
1,425,000
1,715,000
25,000
25,000
200,000
6,120
6,120
18,000
-
100,000
-
1,000
-
300,000
-
20,000
5,000
5,000
-
5,000
5,000
-
45,312
45,312
6,000
6,000
16,364
16,364
-
2,274,488
2,274,488
3,910,786

14

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5.Analysis of expenditure
Expenditure on raising funds:
Advertising, marketing, direct mail and publicity
Other trading activities
Expenditure on charitable activities:
Courses, Events & Visits
Mansfield Museum Exhibition
Lecturer Fees
Observatory Running Costs
Observatory Equipment & Maintenance
Irrecoverable VAT
Depreciation
Separate material item of expense:
SDC Project Development
SDC Professional Fees
Governance costs
Independent auditor’s fee
Independent examiner's fee		 Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
388
388
-
9,521
9,521
2,251
9,908
-
9,908
2,251
15,469
15,469
2,008
-
-
655
655
258
70,891
12,596
83,487
5,320
3,740
3,740
6,018
18,232
18,232
-
5,370
35,023
40,394
4,889
114,356
47,620
161,976
18,492
3,100
3,100
11,946
40,000
40,000
-
43,100
43,100
11,946
3,600
3,600
3,600
-
-
250
3,600
-
3,600
3,850
127,865
90,720
218,584
36,540

15

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9. Tangible fixed assets

Cost Freehold Land Fixtures & Office & IT SDC Total
& Buildings Fittings Equipment Equipment
£ £ £ £ £
At 1 April 2024 2,861,320 46,228 1,066 2,908,614
Additions 3,080,685 4,697 63,761 3,149,142
-
Eliminated on disposal - - -
At 31 March 2025 5,942,005 46,228 5,763 63,761 6,057,756
Depreciation
At 1 April 2024 - 4,623 267 4,889
Charge for the year 29,710 4,623 747 5,313 40,394
Eliminated on disposal - - -
-
At 31 March 2025 29,710 9,246 1,014 5,313 45,283
Net book value
At 31 March 2025 5,912,295 36,982 4,749 58,447 6,012,473
At 31 March 2024 2,861,320 41,605 800 - 2,903,725
10.Stock 2025
£		 2024
£
Books, resources, learning materials 2,425 2,492
11.Debtors 2025
£		 2024
£
Trade debtors 4,808 517
Prepayments and accrued income - 10,781
Other debtors - VAT 743,614
748,422 11,298
12. Bank and cash 2025
£		 2024
£
Charity Account 15,315 728
Cash 1,052 476
SDC Savings 14,353 541,009
Meteor Beacon Savings 1,074 641
Charity Savings 125,278 35,000
Natwest 35 Day Notice - 11,043
Natwest 95 Day Notice Account - 1,487,238
157,072 2,076,135

16

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13a.
13b.
14.		 Creditors: Amounts falling due within o ne year
than one year
Assets
2024
Income
Expenditure
Adjustment
£
£
£
121,792
162,657
(127,865)
4,473,002
2,327,156
(90,720)
4,473,002
2,327,156
(90,720)
4,594,795
2,489,813
(218,584)		 2025
2024
£
£
49,696
394,614
3,600
3,600
1,074
641
-
54,369
398,855
2025
2024
£
£
-
-
Transfers
2025
£
£
156,584
6,709,439
6,709,439
6,866,023

Trade creditors
Accruals and deferred income
Other creditors
Taxation and social security
Creditors: Amounts falling due in more

SDC Project Development is the Charity's "Science Discovery Centre", completed and opened Autumn 2024.

15. Analysis of Net Liabilities between Funds

Restricted Funds
Unrestricted Funds
Total funds at 31 March 2025		 Tangible Fixed
Assets
Net Current
Assets/ Liab'
Creditor
due after 1
year
Total
£
£
£
£
3,170,685
(73,335)
3,097,349
2,841,789
926,885
3,768,674
6,012,473
853,550
6,866,023

17

MANSFIELD AND SUTTON ASTRONOMICAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16. Contingent asset

The Charity, through specialist advisors, completed a claim for VAT which will result in a significant repayment, predominately in respect of construction costs for the Science Discovery Centre. The claim was finalised in January 2025, received in April 2025 and included in debtors.

17. Financial commitments

Contractual commitments for the acquisition of tangible fixed assets amounted to:
Contractual commitments (Science Discovery Centre)		 2025
2024
£
£
62,500
3,728,171

The Science Discovery Centre was completed in Autumn 2024.

18