Company registration number: CE024354 Charity registration number: 1192769
The Heritage Group, Bellingham
(A Charitable Incorporated Organisation)
Annual Report and Financial Statements
for the Year Ended 31 December 2023
The Heritage Group, Bellingham
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Strategic Report | 2 to 3 |
| Trustees' Report | 4 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 14 |
The Heritage Group, Bellingham
Reference and Administrative Details
Trustees S Gibbon K Anderson S Owen W J Turnbull Charity Registration Number 1192769 Company Registration Number CE024354 The charity is incorporated in England & Wales. Registered Office Station Yard Bellingham Hexham Northumberland NE48 2DG Independent Examiner Christopher Gillie FCCA Lloyds Bank House Bellingham Hexham Northumberland NE48 2BA
Page 1
The Heritage Group, Bellingham
Strategic Report for the Year Ended 31 December 2023
Main Activities During the Year
In 2023, we significantly advanced our outreach program with the following notable events and initiatives:
• Exhibition at St. Cuthbert's Church, Bellingham: Starting from Easter 2023, this exhibition ran for the remainder of the season, attracting numerous visitors.
• Haltwhistle Exhibition: A major two-month exhibition at Haltwhistle engaged many local volunteers and drew in numerous visitors.
• Educational Visits: We hosted several school and group visits, enhancing our educational outreach by offering teaching programs at the Heritage Centre to more schools.
• "Know Your Northumberland" Visit : We welcomed a group of Bed and Breakfast hosts and similar businesses, led by a tour guide. This event was well-attended and is expected to boost future visitor numbers.
• Expanded Links with Redesdale: We strengthened our connections with Redesdale through collaborations with The Redesdale Society, the Heritage Centre’s Wikipedia, and the Redesdale Archaeology Group.
• Heritage Displays in Other Buildings: We initiated discussions and planning to use other buildings, such as churches, for appropriate heritage displays.
Events and Partnerships:
- We hosted a successful vintage vehicle rally, generating significant funds.
• We partnered with Tynedale Talking Newspaper for the blind and visually impaired, ensuring our newsletter and historic content are accessible to this audience.
• Our seasonal exhibition on 100 years of the LNER was accompanied by a new booklet. We also refreshed the ‘Plashetts’ area as a “Wood, Wind, and Water” exhibition.
• We participated in the ‘Beneath Our Feet’ initiative, run by the Queen's Hall in Hexham and funded through Historic England's Working Lives programme, which involved schools finding out about their local heritage .
Railway Carriage Enhancement:
• In November 2023, we purchased and installed a new Mark 3 HST First Class railway carriage, replacing the older Mark 1 carriages which were financially unviable to restore and update. Operated by Tea on the Train (Bellingham) Limited, the new carriage enhances visitor experience by providing a more comfortable, warmer, airier, and cleaner environment. This improvement is expected to increase footfall into both the train and the Heritage Centre while reducing maintenance costs.
Parcel Shed Development:
• The first half of 2023 saw the completion and opening of half of the Parcel Shed as a flexible exhibition space, providing a year-round presence even when the Heritage Centre is closed.
Digital Enhancements:
• We increased the number of new video displays and seating areas at the Heritage Centre. This initiative will continue until every major exhibition area has a digital presence.
• The Heritage Centre's Wikipedia program began in the latter half of 2023, focusing initially on the history of houses in Bellingham. This program has already attracted a lot of interest in the wider community and is growing exponentially, encompassing many other categories. This initiative augurs well for increased expansion in future years.
Family-Centric Initiatives:
• We made the Heritage Centre more attractive to families by introducing family-centred activities and games throughout the Centre. Additionally, we opened a Santa's Grotto for children at Christmas and organised a week of family-friendly walks and activities in the summer.
Page 2
The Heritage Group, Bellingham
Strategic Report for the Year Ended 31 December 2023
Genealogy Assistance:
• We expanded our genealogy services to help more visitors trace their family histories.
Collections Management:
• We revamped our collections management approach. Our revitalized team is updating the collections catalogue with photographs of exhibits and conducting an audit to ensure accuracy.
Main Achievements During the Year
• Donations and Grants: We received significant donations and grants, including large private donations and support from Museum Development North East and the Rothley Trust to whom we are very grateful.
• Partnerships: We began further development of links with the Forestry Commission, especially in anticipation of the 100th anniversary of Kielder Forest. We collaborated with Northumbrian Water on the development of a heritage exhibition at Leaplish for 2024 by providing historical information and contacts with individuals.
• Environmental Policy: We established a Climate Change and Environmental policy and participated in the Museum Development Carbon Literacy Programme.
• Digital Presence: Our online presence includes a website, Facebook, Instagram, excellent Google reviews, and TripAdvisor. We improved our Facebook engagement and decided to leave Twitter due to its recent upheavals and low follower count.
• Volunteer Recruitment: Volunteer recruitment remains a challenge. Despite this, we continue to grow our group of Friends, produce a well-received newsletter, and received two legacies in wills. Membership increased from 44 in 2019 to over 200 in 2023.
• Facility Improvements: We refloored the toilets and installed new fixtures. The seasonal exhibition area was redecorated and upgraded with new exhibition walls.
• Training and Governance : Ten volunteers received Welcome Host training from an external trainer. We appointed a new experienced committee member who conducted an immediate governance review and will become a Trustee in due course.
• A second railway carriage has also been purchased and is currently in storage. Our intention is to install and refurbish it over the next yea
• Financial Performance: Our shop and general income performance continued to improve post-pandemic, nearing pre-pandemic levels. Despite economic challenges, increased footfall helped maintain income levels. Our "Free Entry" or "Voluntary Contribution" initiative boosted inclusivity and Equality criteria, increasing shop and museum footfall.
• Financial Management : The purchase and refurbishment of new carriages dominated our financial activities in 2023. This will continue into 2024, with the pressure expected to ease after completing the refurbishment of the second carriage. Our reserve funds were slightly utilized for these projects, but our investment portfolio continues to provide a reasonable return, reinvested into the reserve fund.
The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... S Gibbon Trustee
Page 3
The Heritage Group, Bellingham
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2023.
Objectives and activities
Public benefit
The object of the CIO is to advance education of the public in the history, archaeology, geography, the environment and related aspects of the North Tyne and Redesdale valleys by in particular but not exclusively:
A. The management of a heritage centre in Bellingham
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B. The provision for education, study and other suitable facilities
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C. Supporting and co-ordinating reseach and displays
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: S Gibbon K Anderson S Owen W J Turnbull
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Page 4
The Heritage Group, Bellingham
Trustees' Report
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
Statement of Trustees' Responsibilities
The trustees (who are also the directors of The Heritage Group, Bellingham for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... S Gibbon Trustee
Page 5
The Heritage Group, Bellingham
Independent Examiner's Report to the trustees of The Heritage Group, Bellingham ("the Company")
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of The Heritage Group, Bellingham are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of The Heritage Group, Bellingham as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Christopher Gillie FCCA
Lloyds Bank House Bellingham Hexham Northumberland NE48 2BA
Date:.............................
Page 6
The Heritage Group, Bellingham
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds Total expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds carried forward |
Unrestricted funds £ 56,578 31,587 1,460 89,625 (56,466) (56,466) 33,159 41,954 75,113 75,113 |
Restricted funds £ 10,830 - - 10,830 (6,930) (6,930) 3,900 3,000 6,900 6,900 |
Total 2023 £ 67,408 31,587 1,460 |
|---|---|---|---|
| 100,455 | |||
| (63,396) | |||
| (63,396) | |||
| 37,059 44,954 |
|||
| 82,013 | |||
| 82,013 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 9 to 14 form an integral part of these financial statements. Page 7
The Heritage Group, Bellingham
(Registration number: CE024354) Balance Sheet as at 31 December 2023
| Note Fixed assets Tangible assets 8 Current assets Stocks 9 Debtors 10 Cash at bank and in hand 11 Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds |
2023 £ 18,240 2,500 32,874 34,494 |
|---|---|
| 69,868 (6,095) |
|
| 63,773 | |
| 82,013 | |
| 6,900 75,113 |
|
| 82,013 |
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 14 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... S Gibbon Trustee
The notes on pages 9 to 14 form an integral part of these financial statements. Page 8
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Charity status
The charity is limited by share capital, incorporated in England & Wales.
The address of its registered office is: Station Yard Bellingham Hexham Northumberland NE48 2DG
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Heritage Group, Bellingham 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 9
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Land and buildings 5% Straight line basis
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Page 10
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 11
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Grants, including capital grants; Grants from other charities Total for 2023 4 Income from other trading activities Membership subscriptions Total for 2023 5 Investment income Other investment income Total for 2023 6 Staff costs |
Unrestricted funds General £ 49,343 - 49,343 |
Restricted funds £ - 10,830 10,830 Unrestricted funds General £ 795 795 Unrestricted funds General £ 1,460 1,460 |
Total funds £ 49,343 10,830 |
|---|---|---|---|
| 60,173 | |||
| Total funds £ 795 |
|||
| 795 | |||
| Total funds £ 1,460 |
|||
| 1,460 | |||
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| No | No | |||
| Trustees | 4 | 4 |
No employee received emoluments of more than £60,000 during the year.
Page 12
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| Cost Additions At 31 December 2023 Depreciation Charge for the year At 31 December 2023 Net book value At 31 December 2023 9 Stock Stocks 10 Debtors Other debtors 11 Cash and cash equivalents Cash on hand Cash at bank |
Land and buildings £ 19,200 |
Total £ 19,200 19,200 960 960 18,240 2023 £ 2,500 |
|
|---|---|---|---|
| 19,200 | |||
| 960 | |||
| 960 | |||
| 18,240 | |||
| 2023 £ 32,874 |
|||
| 2023 £ 138 34,356 |
|||
| 34,494 |
Page 13
The Heritage Group, Bellingham
Notes to the Financial Statements for the Year Ended 31 December 2023
12 Creditors: amounts falling due within one year
| 12 Creditors: amounts falling due within one year | |
|---|---|
| Trade creditors Other creditors Accruals |
2023 £ 495 5,000 600 |
| 6,095 |
Page 14
The Heritage Group, Bellingham
Statement of Financial Activities by fund for the Year Ended 31 December 2023
Unrestricted Funds
| Unrestricted Funds | ||
|---|---|---|
| Income and Endowments from: Donations and legacies Other trading activities Investment income Total income Expenditure on: Raising funds Total expenditure Net income Transfers between funds Reconciliation of funds Total funds carried forward |
Total Unrestricted Funds 2023 £ 56,578 31,587 1,460 89,625 (56,466) (56,466) 33,159 41,954 75,113 |
Total Unrestricted Funds 2022 £ - - - |
| - | ||
| - | ||
| - | ||
| - - |
||
| - |
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The Heritage Group, Bellingham
Statement of Financial Activities by fund for the Year Ended 31 December 2023
Restricted Funds
| Restricted Funds | ||
|---|---|---|
| Income and Endowments from: Donations and legacies Total income Expenditure on: Raising funds Total expenditure Net income Transfers between funds Reconciliation of funds Total funds carried forward |
Total Restricted Funds 2023 £ 10,830 10,830 (6,930) (6,930) 3,900 3,000 6,900 |
Total Restricted Funds 2022 £ - |
| - | ||
| - | ||
| - | ||
| - - |
||
| - |
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The Heritage Group, Bellingham
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Donations and legacies Appeals and donations Gift Aid tax reclaimed Grants - other agencies Other trading activities Committed giving Subscriptions Investment income Income from other investments Raising funds Purchases Closing stock Subcontract cost Staff training Volunteer expenses Rent and rates Light, heat and power Insurance Repairs and maintenance Repairs and maintenance Exhibitions Telephone and fax Computer software and maintenance costs Printing, postage and stationery Trade subscriptions Advertising Accountancy fees Legal and professional fees Depreciation of freehold property |
Total 2023 £ 49,343 7,235 10,830 67,408 30,792 795 31,587 1,460 1,460 (11,929) 2,500 (13,987) (1,500) (533) (6,677) (2,863) (1,605) (804) (13,926) (6,126) (763) (1,175) (964) (347) (945) (720) (72) (960) (63,396) |
Total 2022 £ - - - |
|---|---|---|
| - | ||
| - - |
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| - | ||
| - | ||
| - | ||
| - - - - - - - - - - - - - - - - - - - |
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| - |
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The Heritage Group, Bellingham
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Transfers between funds Funds - Transfer from another fund Funds - Transfer from another fund |
Total 2023 £ 3,000 41,954 44,954 |
Total 2022 £ - - |
|---|---|---|
| - |
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