**REGISTERED COMPANY NUMBER: CE025717 (England and Wales) REGISTERED CHARITY NUMBER: 1195000**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **FOR**
## **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 20
Detailed Statement of Financial Activities 21 to 22
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**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Leicestershire Archaeological and Historical Society CIO (“the Society”) has referred to the Charity Commission's guidance on public benefit when reviewing its aims and objectives and in planning its future activities. In particular, the Board of Trustees has considered how the Society’s activities have and will continue to deliver the aims and objectives they have set. The objectives and aims of the Society are as follows:
To promote the study of the history, archaeology, antiquities, and architecture of the counties of Leicestershire and Rutland and to furnish suggestions for the preservation of all past remains considered by the Management Committee to be of value and importance.
The Trustees are satisfied that the Society’s aim and objectives continue to be met; local studies have been promoted and encouraged and the results of research has been disseminated widely through lectures and publications, for the public benefit. The Society restarted its annual History Fair, committed to outreach and inclusion with a broad range of activities for the public. The Society’s reach has continued to grow within and beyond Leicestershire and Rutland with attendance at online lectures from an international audience.
Page 1
## **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **STRATEGIC REPORT**
## **Achievement and performance**
## **1. Lecture Series**
The Society holds a series of lectures at Leicester Museum and Art Gallery, New Walk. The lectures are free for Society members and to members of the public. To maintain the connections made with an online audience during the pandemic, selected lectures are hybrid events with both in-person and online audiences.
Subject to the agreement of individual lecturers, recordings are being made which can then be viewed online.
## **Lecture series from 1 May 2022 to 30 April 2023:**
## The Scarborough Lecture:
Prof M Gardiner, University of Lincoln: The Medieval Landscape of the ‘free peasantry of Danelaw’
N Hill, Architectural Historian: The C12th aisled hall of Leicester Castle: A reassessment
V McLoughlin, Local Historian: Rothley Soke and Parish: Using maps to unlock documentary sources
S Atkins, LAHS Member: Landscape and Character: Geography as Destiny in Leicestershire & Rutland
R Graves, Local Historian: Mary Attenborough:- The Leicester Years
## Members’ Evening:
T Porciani, PhD student, University of Leicester: Anglo-Saxon sculptures at Breedon on the Hill, Leicester: Insular and Continental art compared;
S Atkins, LAHS Member: parish boundaries in the landscape;
S Marquis: George Hart, leading figure in the Leicester Framework Knitters Union.
## The Alan & Joan North Memorial Lecture:
P Liddle, Archaeologist: After the Romans in Leicestershire & Rutland
P Ackers, Emeritus Professor, Loughborough University: Religious Nonconformity and the early Leicester labour movement: the case of the Churches of Christ
P Roberts, Local Historian: James Arthur Haley
## **2. Funds and Grants**
## **Research Fund**
An award of £8,000 was made to the University of Leicester Archaeological Services for research into the Roman Villa at Ketton.
## **Public Heritage Fund**
The Society's Public Heritage Fund was established: 'to provide grants to history and heritage societies within Leicestershire and Rutland which will enable them to engage with, and display their research to, the general public'.
The PHF received one application during 2022-23 from The Priory Church of St Mary and St Hardulph, Breedon on the Hill. Breedon Priory is amongst the oldest and most significant churches in Leicestershire. It contains one of the largest and best-preserved collections of early medieval sculpture in the country, is formed from the nave of an Augustinian monastery and contains exceptional early modern church furniture. The PHF agreed to an award of £6,216 for the installation of three interpretation panels in the church porch that explain the national significance of the building and its sculptures. This award was above the usual £5,000 allowance for the PHF but it was felt appropriate to spend additional funds on such a worthwhile project, especially due to a lack of take up of the PHF in previous years, partly due to the coronavirus pandemic.
Page 2
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **Acquisitions Fund**
Our Acquisitions Fund was established, with the aim of assisting local museums and the Leicestershire, Leicester and Rutland Records Office with the purchase of objects with significance to the county so that they be retained and displayed for public benefit.
There were no applications to the acquisitions fund during the reporting period.
## **3. Publications**
## **Newsletter**
The Society published several editions of an illustrated Newsletter, the content aiming to keep the membership informed of any developments in local archaeological and historical research, of events and publications that might be of interest.
## **The Leicestershire Historian**
The Society published the Leicestershire Historian, an annual volume containing articles, reviews and shorter contributions of more general historical interest.
## **Transactions**
The Society published its annual volume ‘Transactions of the Leicestershire Archaeological and Historical Society’ which contains a wide range of academic articles on both historical and archaeological topics; reviews of recent publications relevant to the aims of the Society; obituaries and extensive notes of recent archaeological discoveries in Archaeology in Leicestershire and Rutland.
## **4. Membership**
The Society had 398 members at the start of the year and welcomed fifteen new members during the period. Twenty members were deceased or resigned, and the total membership at the end of the year was 393.
## **5. Committee**
The Officers of the Society and the Members of the Management Committee, with their dates of service, are set out in the structure, government and management section of the report of the trustees.
## **6. Library**
Although some members visited to borrow material and to carry out research, there were more visits from non-members as the Library or Jury Room is now firmly fixed as a place to see for guided tours of the Guildhall. It is good to report that the guide always gives credit to the Society for saving the building years ago and says how good the Library is. The Librarian was able to point out the “reversed” graffiti scratched on some of the window glass.
There is a fruitful arrangement of mutual benefit between the Library and the Reviews Editor of the 'Leicestershire Historian'. Enquiries have been received from outside the Society. Reports continue to be made to the Newsletter.
## **7. LAHS History Fair**
The Society's biennial History Fair (deferred twice for covid and once for the Queen's Funeral) was held on 18 March 2023 at Beaumanor Hall. The event was well attended, with an estimated footfall of over 1500 people, with positive feedback received for the interactive activities (including re-enactments), exhibitions, speakers and the Society.
Page 3
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **STRATEGIC REPORT**
## **Financial review**
## **Financial position**
On 1 May 2022, the charity incorporated their old charity (503240) to LAHS CIO. All trade and assets were transferred and the balancing funds in the old charity of £1,152,878 were introduced within the year as donations. Prior to 1 May 2022, the CIO was a dormant charity.
Due to the donations from the old charity, the charity breached the audit threshold. A dispensation from audit requirements has been granted by The Charity Commission in light of the nature of this one off transaction.
The results for the year show total income of £54,139 (excluding the funds donated by the old charity). This amount was received as Unrestricted Funds. The total resources expended in the year amounted to £63,149.
These funds have been reinvested into the Charity to further its objectives and aims.
During the course of the year, the W Alan North Memorial Lecture Fund Trust (“the Fund”) was wound up. The Fund had assets of £10,538 which were transferred to the Society. The Fund owed the Society £3,235. The surplus (£7,303) has been treated as ‘Legacy Income’ in the books of the Society. The Society will continue to fund and present an annual public lecture, titled the ‘Alan and Joan North Memorial Lecture’, on a subject relating to Roman Republic and Empire, to be held as close as convenient to the 10th day of March each year.
As at 30th April 2023 the investment portfolio was valued. This valuation showed a loss of £54,853 which has been recognised in the accounts within net gains/(losses) on investments.
Overall, the Society’s position is sound. Members should note that the Society’s investment portfolio will move with the market and further volatility is likely. In addition to the invested funds, the Society holds funds as cash at bank equal to approximately two year’s income or expenditure. As at 30 April 2023 this amounted to £109,121.
## **Reserves policy**
The trustees have reviewed the reserves policy of the charity in the light of present known current or future likely financial requirements. The Leicestershire Archaeological and Historical Society Reserve Fund will be maintained at a level where the investments will generate income in excess of £30,000 per annum to provide for acquisitions, research, publications and other necessary costs.
In the current year the investments generated income of £30,627.
Page 4
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **STRATEGIC REPORT**
## **Future plans**
The intention of the Trustees is to continue to deliver the aims and objectives of the Society through encouraging participation and delivering events and publications to the public.
The Society will promote the study of the history, archaeology, antiquities, and architecture of the counties of Leicestershire and Rutland through:-
1. Delivering lectures for members with free public access, and delivering events with a broad range of activities for free public access; the next History Fair will be held in 2025.
2. Continuing to publish Transactions, the Leicestershire Historian and regular Newsletters.
3. Increasing the accessibility of research documents held by the Society since its foundation in 1855.
4. To broaden online access to Transactions and the Leicestershire Historian, making them available to the membership as soon after hard copy publication as possible, and freely available to the public 12 months after hard copy publication.
The Society will seek the preservation of all past remains considered by the Management Committee to be of value and importance through:-
1. Maintaining and publicising the Society's three grant schemes for Research, Public Heritage and Acquisitions.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
The Management Committee (the “Committee”) comprises not less than seven and not more than twenty persons and consist of the Chair, Secretary and Treasurer of the Society and other committee members as appointed at the Annual General Meeting.
All members of the Committee retire with effect from the conclusion of the Annual General Meeting but are eligible for re-election at that meeting.
The Committee meets on a regular basis and is responsible for the overall policy of the charity and matters relating to finance.
## **Related parties**
Details of related parties and transactions with them are given in the notes to the financial statements.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE025717 (England and Wales)
## **Registered Charity number**
1195000
Page 5
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **Registered office**
The Guildhall Guildhall Lane Leicester LE1 5FQ
## **Trustees**
Dr R Buckley Mr M Beamish Dr Y Courtney Mr A Stevenson (resigned 28.6.2022) Mr D Howell (resigned 10.1.2023) Dr D O’Sullivan (appointed 2.11.2022)
## **President**
Prof P J Boylan
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|||
|---|---|
|Vice Presidents|
|Mr O D Lucas|(Passed away 7.2.2022)|
|Miss J Mellor|
|Mr L Tharp|
|Dr D L Wykes|
|Management Committee|
|Mr J Butler|Honorary Secretary|
|Mr M Beamish|Honorary Membership Secretary|
|Dr Y Courtney|Honorary Lecture Secretary|
|Mr S Atkins|Honorary Treasurer|
|Mr J Thomas|Honorary Editor, Transactions|
|Ms J Lee|Honorary Editor, Leicestershire Historian|
|Mrs C Brown|Honorary Editor, Newsletter and Reviews|
|Mr A Stevenson|Honorary Librarian|
|Ms H Sharp|Chair, Public Heritage Fund|
|Prof P Ackers|
|Mr R Jenkins|
|Ms W Scott|Chair, Acquisitions Fund|
|Prof E Tingle|
|Mrs C Wessel|
|Dr D L Wykes|
|Dr R Buckley|(resigned 9.11.2022)|
|Mr J Hall|(resigned 9.11.2022)|
|Mr D Howell|(resigned 10.1.2023)|
|Dr D O’Sullivan|Chair, Research Fund (appointed 23.11.2022)|
**----- End of picture text -----**
## **Independent Examiner**
Mr Phillip Bott FCA BSc (Hons) Institute of Chartered Accountants in England and Wales Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
Page 6
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Bankers**
National Westminster Bank 7 Hinckley Road Leicester LE3 0TQ
## **Solicitors**
Frisby & Small 5 De Montfort Street Leicester LE1 7GT
## **Investment managers**
Charles Stanley St George Street Leicester LE1 1QG
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 22 November 2023 and signed on the board's behalf by:
Mr M Beamish - Trustee
Page 7
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **Independent examiner's report to the trustees of Leicestershire Archaeological and Historical Society CIO ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our work, for this report, or for the opinions we have formed.
Mr Phillip Bott FCA BSc (Hons) Institute of Chartered Accountants in England and Wales Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU
23 November 2023
Page 8
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Promoting the study of history
Other
**Total**
Net gains/(losses) on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**1,175,688**
**432**
**30,897**
**1,207,017**
**50,774**
**12,375**
**63,149**
**(54,853)**
**1,089,015**
**-**
**1,089,015**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Year Ended**
**30.4.23**
**Total**
**funds**
**£**
**1,175,688**
**432**
**30,897**
**1,207,017**
**50,774**
**12,375**
**63,149**
**(54,853)**
**1,089,015**
**-**
**1,089,015**|Period
29.6.21
to
30.4.22
Total
funds
£
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|---|---|
The notes form part of these financial statements
Page 9
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **BALANCE SHEET 30 APRIL 2023**
|Notes
**FIXED ASSETS**
Heritage assets
11
Investments
12
**CURRENT ASSETS**
Stocks
13
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds:
General fund
Designated Fund - Scarborough Legacy
Designated Fund - Project Funding
Designated Fund - Heritage Assets
**TOTAL FUNDS**|Unrestricted
funds
£
**54,130**
**899,775**
**953,905**
**6,706**
**35,237**
**109,121**
**151,064**
**(15,954)**
**135,110**
**1,089,015**
**1,089,015**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2023**
**Total**
**funds**
**£**
**54,130**
**899,775**
**953,905**
**6,706**
**35,237**
**109,121**
**151,064**
**(15,954)**
**135,110**
**1,089,015**
**1,089,015**
**107,816**
**867,069**
**60,000**
**54,130**
**1,089,015**
**1,089,015**|2022
Total
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 10
## **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **BALANCE SHEET - continued 30 APRIL 2023**
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 November 2023 and were signed on its behalf by:
Mr M Beamish - Trustee
Dr Y Courtney - Trustee
The notes form part of these financial statements
Page 11
## **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of heritage assets
Purchase of fixed asset investments
Sale of fixed asset investments
Losses on investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**Year Ended**
**30.4.23**
**£**
**1,086,982**
**1,086,982**
**(54,130)**
**(1,037,679)**
**28,198**
**54,853**
**270**
**30,627**
**(977,861)**
**109,121**
**-**
**109,121**|Period
29.6.21
to
30.4.22
£
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|
The notes form part of these financial statements
Page 12
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2023**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Losses on investments
Interest received
Dividends received
Increase in stocks
Increase in debtors
Increase in creditors
**Net cash provided by operations**
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**
At 1.5.22
£
**Net cash**
Cash at bank
**-**
**-**
**Total**
**-**|**Year Ended**
**30.4.23**
**£**
**1,089,015**
**54,853**
**(270)**
**(30,627)**
**(6,706)**
**(35,237)**
**15,954**
**1,086,982**
Cash flow
£
**109,121**
**109,121**
**109,121**|Period
29.6.21
to
30.4.22
£
-
-
-
-
-
-
-
-
**At 30.4.23**
**£**
**109,121**
**109,121**
**109,121**|
|---|---|---|
The notes form part of these financial statements
Page 13
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. For legacies, the entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Heritage assets**
Works of art and other valuable artefacts (heritage assets) have been capitalised and recognised at the cost or value of the acquisition, where such a cost or valuation is reasonably obtainable.
Heritage assets are not depreciated since their long economic life and high residual value mean that any depreciation would not be material.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 14
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Fixed asset investments**
Fixed asset investments are stated at their fair value at the balance sheet date. Their original cost is shown as a note.
All gains and losses on revaluations and disposals are taken to the Income and Expenditure account.
## **Debtors**
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
## **Creditors**
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
## **Significant judgements and estimates**
There were no areas in which the preparation of the financial statements required to make significant judgements or estimates.
## **2. DONATIONS AND LEGACIES**
|Donations
Gift aid
Legacies
Subscriptions|**Year Ended**
**30.4.23**
**£**
**1,152,878**
**2,192**
**7,802**
**12,816**
**1,175,688**|Period
29.6.21
to
30.4.22
£
-
-
-
-
-|
|---|---|---|
The legacy income is the surplus payment from The W Alan North Memorial Lecture Fund which was merged with the charity within the year.
continued...
Page 15
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
**----- Start of picture text -----**
3. OTHER TRADING ACTIVITIES
Period
29.6.21
Year Ended to
30.4.23 30.4.22
£ £
Shop income 432 -
4. INVESTMENT INCOME
Period
29.6.21
Year Ended to
30.4.23 30.4.22
£ £
Income from investment 30,627 -
Deposit account interest 270 -
-
30,897
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct activities
Costs (see (see note
note 6) 7) Totals
£ £ £
Promoting the study of history 36,558 14,216 50,774
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
Period
29.6.21
Year Ended to
30.4.23 30.4.22
£ £
-
Lecture expenses 3,895
Library purchases 284 -
Insurance 1,312 -
Cost of literature 15,451 -
Subscriptions 286 -
-
Rent and administrative expenses 12,243
-
Service level agreements 3,087
-
36,558
**----- End of picture text -----**
continued...
Page 16
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
## **7. GRANTS PAYABLE**
|**GRANTS PAYABLE**||
|---|---|
|Promoting the study of history|Period
29.6.21
**Year Ended**
to
**30.4.23**
30.4.22
**£**
£
**14,216**
-|
|The total grants paid to institutions during the year was as follows:
University of Leicester
Breedon Priory|Period
29.6.21
**Year Ended**
to
**30.4.23**
30.4.22
**£**
£
**8,000**
-
**6,216**
-|
||**14,216**
-|
|**SUPPORT COSTS**
Other resources expended|Governance
costs
£
**12,375**|
## **8. SUPPORT COSTS**
Included within other resources expended is independent examiners remuneration of £5,010.
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the period ended 30 April 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the period ended 30 April 2022.
continued...
Page 17
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
|**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**NET INCOME**
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**HERITAGE ASSETS**
**MARKET VALUE**
Additions
**NET BOOK VALUE**
At 30 April 2023
At 30 April 2022|Total
funds
£
-
-
Total
£
**54,130**
**54,130**
-|
|---|---|
The heritage assets relate to various items of furniture and artwork, valued at £33,130, located at The Guildhall, Leicester and several items located at New Walk Museum, Leicester. The assets were valued by Richard Plant MNAVA, Professional Valuer for the year ended 30 April 2023. Also included in heritage assets is a library valued at £21,000.
## **12. FIXED ASSET INVESTMENTS**
|Listed
investments
£
**MARKET VALUE**
Additions
**990,961**
Disposals
**(39,817)**
Revaluations
**(54,853)**
At 30 April 2023
**896,291**
**NET BOOK VALUE**
At 30 April 2023
**896,291**
At 30 April 2022
-|Cash and
settlements
pending
Totals
£
£
**46,718**
**1,037,679**
**(43,234)**
**(83,051)**
**-**
**(54,853)**
**3,484**
**899,775**
**3,484**
**899,775**
-
-|
|---|---|
There were no investment assets outside the UK.
continued...
Page 18
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
## **12. FIXED ASSET INVESTMENTS - continued**
|Cost or valuation at 30 April 2023 is represented by:
**Cash and**
**Listed**
**settlements**
**investments**
**pending**
**£**
**£**
Valuation in 2023
**896,291**
**3,484**
If investments had not been revalued they would have been included at the historical cost value of
**13.**
**STOCKS**
**2023**
**£**
Stocks
**6,706**
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
**£**
Other debtors
**34,663**
Prepayments and accrued income
**574**
**35,237**
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
**£**
Accrued expenses
**15,954**
**16.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.5.22
in funds
£
£
**Unrestricted funds**
General fund
**-**
**107,816**
Designated Fund - Scarborough Legacy
**-**
**867,069**
Designated Fund - Project Funding
**-**
**60,000**
Designated Fund - Heritage Assets
**-**
**54,130**
**-**
**1,089,015**
**TOTAL FUNDS**
**-**
**1,089,015**|**Totals**
**£**
**899,775**
£930,712.
2022
£
-
2022
£
-
-
-
2022
£
-
At
30.4.23
£
**107,816**
**867,069**
**60,000**
**54,130**
**1,089,015**
**1,089,015**|
|---|---|
continued...
Page 19
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated Fund - Scarborough Legacy
Designated Fund - Project Funding
Designated Fund - Heritage Assets
**TOTAL FUNDS**|Incoming
resources
£
**225,818**
**867,069**
**60,000**
**54,130**
**1,207,017**
**1,207,017**|Resources
expended
£
**(63,149)**
**-**
**-**
**-**
**(63,149)**
**(63,149)**|Gains and
losses
£
**(54,853)**
**-**
**-**
**-**
**(54,853)**
**(54,853)**|Movement
in funds
£
**107,816**
**867,069**
**60,000**
**54,130**
**1,089,015**
**1,089,015**|
|---|---|---|---|---|
## **17. RELATED PARTY DISCLOSURES**
During the year, £7,000 (2022: £nil) was paid to key management.
Page 20
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**1,152,878**
Gift aid
**2,192**
Legacies
**7,802**
Subscriptions
**12,816**
**1,175,688**
**Other trading activities**
Shop income
**432**
**Investment income**
Income from investment
**30,627**
Deposit account interest
**270**
**30,897**
**Total incoming resources**
**1,207,017**
**EXPENDITURE**
**Charitable activities**
Lecture expenses
**3,895**
Library purchases
**284**
Insurance
**1,312**
Cost of literature
**15,451**
Subscriptions
**286**
Rent and administrative expenses
**12,243**
Service level agreements
**3,087**
Grants to institutions
**14,216**
**50,774**
**Support costs**
**Governance costs**
Professional fees
**7,190**
Carried forward
**7,190**|Year Ended
30.4.23
Restricted
Total
funds
funds
£
£
**-**
**1,152,878**
**-**
**2,192**
**-**
**7,802**
**-**
**12,816**
**-**
**1,175,688**
**-**
**432**
**-**
**30,627**
**-**
**270**
**-**
**30,897**
**-**
**1,207,017**
**-**
**3,895**
**-**
**284**
**-**
**1,312**
**-**
**15,451**
**-**
**286**
**-**
**12,243**
**-**
**3,087**
**-**
**14,216**
**-**
**50,774**
**-**
**7,190**
**-**
**7,190**|Period
29.6.21
to
30.4.22
Total
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|
This page does not form part of the statutory financial statements
Page 21
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023**
|Unrestricted
funds
£
**Governance costs**
Brought forward
**7,190**
Accountancy and legal fees
**5,185**
**12,375**
Total resources expended
**63,149**
**Net income before gains and losses**
**1,143,868**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**(54,853)**
**Net income**
**1,089,015**|Year Ended
30.4.23
Restricted
Total
funds
funds
£
£
**-**
**7,190**
**-**
**5,185**
**-**
**12,375**
**-**
**63,149**
**-**
**1,143,868**
**-**
**(54,853)**
**-**
**1,089,015**|Period
29.6.21
to
30.4.22
Total
funds
£
-
-
-
-
-
-
-|
|---|---|---|
This page does not form part of the statutory financial statements
Page 22