**REGISTERED CHARITY NUMBER: 1195000** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025** ## **FOR** ## **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025** **----- Start of picture text -----**
Page
Report of the Trustees 1 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Notes to the Financial Statements 14 to 21
Detailed Statement of Financial Activities 22 to 23
**----- End of picture text -----**
**LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** The trustees present their report with the financial statements of the charity for the year ended 30 April 2025. 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 ("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 organises a biennial 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. ## **Risk management statement** Although the Society is a smaller charity with gross income below the statutory audit threshold (£1,000,000) the Charities Commission encourage the Trustees to make a Risk Management Statement as a matter of good practice. Following the Charities Commission document, "Charities and risk management (CC26)" the Trustees note that: The Society carries out low risk activities in a low-risk environment. Our Trustees have relevant experience in the activities which the Society carries out to further its objectives and aims, and give freely and generously of their time. Rules setting out conflicts of interests and payment of expenses to Trustees are set out in the Society's Constitution. The activities of the Society are incidental to, not central to, the welfare of beneficiaries. The Society has not, and does not, enter into material long term contracts. It has no staff, and pays no remuneration. Financial and physical assets are held by third parties and subject to access controls. Financial information and cash flow is sufficient, reserves are substantial; the Society's reserves and investment management policies are set out in the Trustees' Report. The Society has many individual members, with whom it frequently engages, and is not dependent on a limited body of donors. The Society seeks, and heeds third party advice where appropriate, with respect to legal and accounting matters. The Society holds both Directors' and Officers' and Public Liability Insurance. We do not work with children or vulnerable adults; we are not providing social services or support to any identified group at risk, although we may come into contact with them. The Society's policies, together with a copy of our Constitution and Rule Book, are available at our website, lahs.org.uk. Page 1 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## **1. Lecture Series** The Society holds a series of lectures at Leicester Museum and Art Gallery, New Walk; from September to March whilst the Museum underwent refurbishment the lectures were held at the University of Leicester campus. 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 lecture 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 2024 to 30 April 2025: **----- Start of picture text -----**
||||| |---|---|---|---| |02/05/2024|Excavations at St Anne's Charterhouse in Coventry.|Andy McLeish|ULAS| |23/05/2024|Excavations of a later Prehistoric Landscape and Iron|James R Harvey|ULAS| |Age Settlement at Broadnook Garden Village, Wanlip.|and Adam Clapton| |06/06/2024|Dropped from Hell into Heaven: Internment of sick and|Dr Sue Barton|Lord Mayor of| |wounded prisoners of war in Switzerland during World|Leicester 2023-24| |War I.| |26/09/2024|THE SCARBOROUGH LECTURE:Women and Magna|Sharon Bennett|FRHistS and Author| |Carta(cancelled).|Connolly| |17/10/2024|All Quiet on the Leicester Front? The US Military Race|Vincent Holyoak|Author| |Disturbances of 1944.| |14/11/2024|Church-people and Social Change in 19th Century|Nick Miller|Author| |Leicestershire.| |12/12/2024|The Bishopric of the Middle Angles: Christianity and|Thomas Vare|University of| |Early Medieval Leicester.|Leicester PhD| |Student| |23/01/2025|Fieldworkers and Fieldschools: Discovering a Roman|Adam Clapton|ULAS| |Settlement at Laughton.| |13/02/2025|Members' Evening.|Denis Kenyon|Leicester City,| |County & Rutland At| |Risk War Memorials| |Project| |13/03/2025|THE W ALAN & JOAN NORTH LECTURE: The Life|Eddie Smallwood|Author| |of a Roman Soldier and the Story of the Last Battle of| |Boudica.| |10/04/2025|Diet of the Grey Family at Bradgate House: bringing|Rachel Small|ULAS| |together the historical and archaeological evidence.| **----- End of picture text -----**
Page 2 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## **2. Funds, Grants and Prizes** Research Fund The Research Fund continues the work of the Leicestershire Archaeological Research Fund Charity which was wound up in 2021. The Fund invites applications for small grants to research projects that are aligned with the overall aims of the Society, to promote, understand and protect the archaeology and history of Leicestershire and Rutland. The Fund attracts a wide range of applications which are considered twice yearly. Awards totalling £4,650 were disbursed in the financial year: **----- Start of picture text -----**
Susan Barton Ski Stories & Tourism £800
Susan Barton Ski Stories & Tourism (2nd Tranche) £800
Teresa Porciani Iconography of the Hallaton Helmet £550
Dr Pam Fisher at Leicestershire VCH Loughborough: 2nd book covering transport, farming, £2,500
Trust industry, and buildings
Total: £4,650
**----- End of picture text -----**
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'. Awards totalling £8,337 were disbursed in the financial year: **----- Start of picture text -----**
|||| |---|---|---| |Leics & Rutland Family History Society|50 Year Anniversary Exhibition|£707| |Meghna Popat|UK South Asian Digital Archive - pop up exhibition|£1,805| |Dr Geoff Rowe at Leicester Comedy|Photo cataloguing project|£1,244| |Archive| |Dr Geoff Rowe at Leicester Comedy|Photo cataloguing project (2nd Tranche, to be treated as a|£1,656| |Archive|2025-26 financial year payment)| |Prof Rosemary Sweet at Historic Towns|Mapping Leicester's History - digital mapping|£1,244| |Trust| |Prof Rosemary Sweet at Historic Towns|Mapping Leicester's History - digital mapping (2nd Tranche,|£1,256| |Trust|to be treated as a 2025-26 financial year payment)| |Nigel Freestone|Leicestershire Football Archive|£425| |Total:|£8,337| |Total recognised in 2024-25 financial|£5,425| |year:| **----- End of picture text -----**
Page 3 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## **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. Awards totalling £4,000 were disbursed in the financial year: Leics County Council Museums Grimston Jewel Treasure Case £4,000 Total: £4,000 ## Prizes The Society offers four annual prizes for dissertations at both Bachelor and Master levels, to encourage and reward students undertaking research into the history, archaeology and heritage of Leicestershire and Rutland. Each prize winner is awarded £250 and the opportunity for publication in the Leicestershire Historian and presentation at the annual members' evening. No prizes were awarded in the 2024-25 financial year. ## 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. In addition to the illustrated newsletters, members receive regular interim newsletters by email, with details of forthcoming interesting talks, exhibitions and publications. 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 usually publishes an 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. As a result of delays in compiling this year's edition, and difficulties in moving to a new printer, no edition of Transactions has been issued in the 2024-25 financial year. ## 4. Membership The Society had 381 members at the beginning of the financial year. We welcomed 29 new members. 28 members left (resigned, deceased, or were removed from the membership list) and, at the end of the financial year, we had 382 members. Page 4 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## 5. Committee The Officers of the Society and the Members of the Management Committee, with their dates of service, are set out below. ## 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 next biennial History Fair will be held at Oakham Castle on 5 July 2025. A full report will be included in next year's Trustees' Report. ## **FINANCIAL REVIEW** ## **Financial position** The results for the year show total income of £56,146. This amount was received as Unrestricted Funds. The total resources expended in the year amounted to £38,092. As at 30th April 2025 the investment portfolio was valued. This valuation showed a gain of £20,782 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 years income or expenditure. As at 30 April 2025 this amounted to £91,815, including £50,464 in a 90-day high interest account. ## **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 a gross income of £41,187 before fees and costs. Page 5 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **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: - 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 on Saturday 5 July 2025 in the grounds of Oakham Castle - Continuing to publish Transactions, the Leicestershire Historian, and regular Newsletters. - Increasing the accessibility of research documents held by the Society since its foundation on 10 January 1855. - 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: -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 an unincorporated charity. The Society is a Charitable Incorporated Organisation ("CIO"). The Society's Constitution and Rule Book are available at our website, lahs.org.uk. ## **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. The meetings are in-person but with an option to join on-line, allowing remotely based members to attend and participate. Page 6 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Related parties** Details of related parties and transactions with them are given in the notes to the financial statements. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1195000 ## **Principal address** The Guildhall Guildhall lane Leicester LE1 5FQ Page 7 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **Trustees** Mr Matt Beamish Dr Deirdre O'Sullivan Dr Wendy Scott Ms Helen Sharp Prof Elizabeth Tingle Mr Robin Jenkins Chair ## **President** Dr Richard Buckley **Honorary Life Vice-President** Prof. Michael Wood ## **Vice Presidents** Mr Lars Tharp Squire de Lisle Dr David L Wykes Dr Patrick Clay Mr Robert (Fred) Hartley Mr Peter Liddle Mr Ned Newitt Ms Vicki Score Professor Joanna Story Mrs Caroline Wessel ## **Management Committee** Mr Matt Beamish Chair Mr Jim Butler Honorary Secretary Ms Gillian Rawlins Honorary Membership & Website Secretary Ms Joanne Vigor-Mungovin Honorary Lecture Secretary (resigned 15/10/2024) Mr Simon Atkins Honorary Treasurer Mr John Thomas Honorary Editor, Transactions Ms Joyce Lee Honorary Editor, Leicestershire Historian (to 14/11/2024) Mrs Cynthia Brown Honorary Editor, Newsletter and Reviews Mr Aubrey Stevenson Honorary Librarian Ms Helen Sharp Public Heritage Fund Dr Wendy Scott Acquisitions Fund Dr Deirdre O'Sullivan Research Fund Ms Julie Attard Research Fund Mr Robin Jenkins Mr Grahame Appleby (to 14/11/2024) Prof Elizabeth Tingle Acting Honorary Lecture Secretary (from 15/10/2024) Mrs Caroline Wessel Dr David L Wykes Page 8 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** Mr Phillip Bott FCA BSc (Hons) Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU ## **Solicitors** Josiah Hinks Solicitors The Manse, 22 De Montfort Street Leicester LE1 7GB ## **Investment Managers** Charles Stanley St George Street Leicester LE1 1QG Approved by order of the board of trustees on 19 August 2025 and signed on its behalf by: Mr M Beamish - Trustee Page 9 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **Independent examiner's report to the trustees of Leicestershire Archaeological and Historical Society** I report to the charity trustees on my examination of the accounts of Leicestershire Archaeological and Historical Society (the Trust) for the year ended 30 April 2025. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## **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) The Institute of Chartered Accountants in England and Wales Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU 21 August 2025 Page 10 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025** |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 and archaeology
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**12,910**
**136**
**43,100**
**56,146**
**22,881**
**15,211**
**38,092**
**20,782**
**38,836**
**1,074,735**
**1,113,571**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**12,910**
**136**
**43,100**
**56,146**
**22,881**
**15,211**
**38,092**
**20,782**
**38,836**
**1,074,735**
**1,113,571**|2024
Total
funds
£
18,359
190
34,471
53,020
74,382
11,351
85,733
18,433
(14,280)
1,089,015
1,074,735| |---|---|---|---|---| The notes form part of these financial statements Page 11 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **BALANCE SHEET 30 APRIL 2025** |Notes
**FIXED ASSETS**
Heritage assets
10
Investments
11
**CURRENT ASSETS**
Stocks
12
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**|Unrestricted
funds
£
**54,130**
**962,188**
**1,016,318**
**6,706**
**8,888**
**91,815**
**107,409**
**(10,156)**
**97,253**
**1,113,571**
**1,113,571**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**54,130**
**962,188**
**1,016,318**
**6,706**
**8,888**
**91,815**
**107,409**
**(10,156)**
**97,253**
**1,113,571**
**1,113,571**|2024
Total
funds
£
54,130
911,890
966,020
6,706
597
117,367
124,670
(15,955)
108,715
1,074,735
1,074,735| |---|---|---|---|---| The notes form part of these financial statements continued... Page 12 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **BALANCE SHEET - continued 30 APRIL 2025** |**FUNDS**
15
Unrestricted funds:
General fund
Designated Fund - Scarborough Legacy
Designated Fund - Project Funding
Designated Fund - Heritage Assets
**TOTAL FUNDS**|**132,372**
**867,069**
**60,000**
**54,130**
**1,113,571**
**1,113,571**|93,536
867,069
60,000
54,130
1,074,735
1,074,735| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 19 August 2025 and were signed on its behalf by: Mr M Beamish - Trustee Mr R Jenkins - Trustee The notes form part of these financial statements Page 13 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. 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 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. continued... Page 14 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** 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. ## **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** |Legacies
Subscriptions|**2025**
**£**
**-**
**12,910**
**12,910**|2024
£
4,121
14,238
18,359| |---|---|---| The legacy income is the surplus payment from The Leicestershire Archaeological Research Fund which was merged with the charity in 2024. continued... Page 15 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** **----- Start of picture text -----**
3. OTHER TRADING ACTIVITIES
2025 2024
£ £
Shop income 136 190
4. INVESTMENT INCOME
2025 2024
£ £
Income from investment 41,187 33,463
Deposit account interest 1,913 1,008
43,100 34,471
5. CHARITABLE ACTIVITIES COSTS
Direct Grant
Costs (see funding of
note 6) activities Totals
£ £ £
Promoting the study of history and
archaeology 8,806 14,075 22,881
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
2025 2024
£ £
Lecture expenses (1,341) 4,254
Library purchases 61 102
Insurance 1,237 1,790
Cost of literature 4,762 26,021
Subscriptions 253 253
Prizes - 1,077
Rent and administrative expenses 3,834 13,295
-
Service level agreements 3,000
8,806 49,792
**----- End of picture text -----**
continued... Page 16 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** ## **7. SUPPORT COSTS** **----- Start of picture text -----**
||| |---|---| |Governance| |costs| |£| |Other resources expended|15,211| **----- End of picture text -----**
Included within other resources expended is independent examiners remuneration of £3,931 (2024: £3,684). ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024. ## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** **----- Start of picture text -----**
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |-| |Donations and legacies|18,359|18,359| |Other trading activities|190|-|190| |Investment income|34,471|-|34,471| |Total|53,020|-|53,020| |EXPENDITURE ON| |Charitable activities| |-| |Promoting the study of history and archaeology|74,382|74,382| |Other|11,351|-|11,351| |Total|85,733|-|85,733| |-| |Net gains on investments|18,433|18,433| |-| |NET INCOME/(EXPENDITURE)|(14,280)|(14,280)| |RECONCILIATION OF FUNDS| |-| |Total funds brought forward|1,089,015|1,089,015| **----- End of picture text -----**
continued... Page 17 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** |**9.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**TOTAL FUNDS CARRIED FORWARD**
1,074,735
-
**10.**
**HERITAGE ASSETS**
**MARKET VALUE**
At 1 May 2024 and 30 April 2025
**NET BOOK VALUE**
At 30 April 2025
At 30 April 2024|Total
funds
£
1,074,735
Total
£
**54,130**
**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. ## **11. FIXED ASSET INVESTMENTS** |Cash and
Listed
settlements
investments
pending
£
£
**MARKET VALUE**
At 1 May 2024
**908,243**
**3,647**
Additions
**120,633**
**2,032**
Disposals
**(93,149)**
**-**
Revaluations
**20,782**
**-**
At 30 April 2025
**956,509**
**5,679**
**NET BOOK VALUE**
At 30 April 2025
**956,509**
**5,679**
At 30 April 2024
908,243
3,647|Totals
£
**911,890**
**122,665**
**(93,149)**
**20,782**
**962,188**
**962,188**
911,890| |---|---| There were no investment assets outside the UK. continued... Page 18 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** ## **11. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 30 April 2025 is represented by: |**Cash and**
**Listed**
**settlements**
**investments**
**pending**
**£**
**£**
Valuation in 2025
**956,509**
**-**
Cost
**-**
**5,679**
**956,509**
**5,679**|**Totals**
**£**
**956,509**
**5,679**
**962,188**| |---|---| If investments had not been revalued they would have been included at the historical cost value of £858,003 (2024: £899,775) ## **12. STOCKS** |**12.**
**STOCKS**|| |---|---| |Stocks|**2025**
2024
**£**
£
**6,706**
6,706| |**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income|**2025**
2024
**£**
£
**8,888**
597| |**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors|**2025**
2024
**£**
£
**10,156**
15,955| continued... Page 19 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** ## **15. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Designated Fund - Scarborough Legacy
Designated Fund - Project Funding
Designated Fund - Heritage Assets
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**56,146**
**TOTAL FUNDS**
**56,146**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Designated Fund - Scarborough Legacy
Designated Fund - Project Funding
Designated Fund - Heritage Assets
**TOTAL FUNDS**|At 1.5.24
£
**93,536**
**867,069**
**60,000**
**54,130**
**1,074,735**
**1,074,735**
Resources
expended
£
**(38,092)**
**(38,092)**
At 1.5.23
£
107,816
867,069
60,000
54,130
1,089,015
1,089,015|Net
movement
in funds
£
**38,836**
**-**
**-**
**-**
**38,836**
**38,836**
Gains and
losses
£
**20,782**
**20,782**
Net
movement
in funds
£
(14,280)
-
-
-
(14,280)
(14,280)|At
30.4.25
£
**132,372**
**867,069**
**60,000**
**54,130**
**1,113,571**
**1,113,571**
Movement
in funds
£
**38,836**
**38,836**
At
30.4.24
£
93,536
867,069
60,000
54,130
1,074,735
1,074,735| |---|---|---|---| continued... Page 20 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025** ## **15. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
53,020
(85,733)
18,433|Movement
in funds
£
(14,280)| |---|---|---| |**TOTAL FUNDS**|53,020
(85,733)
18,433|(14,280)| ## **16. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 April 2025. Page 21 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025** |2025
2024
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
£
£
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Legacies
**-**
**-**
**-**
4,121
Subscriptions
**12,910**
**-**
**12,910**
14,238| |---| |**12,910**
**-**
**12,910**
18,359
**Other trading activities**
Shop income
**136**
**-**
**136**
190
**Investment income**
Income from investment
**41,187**
**-**
**41,187**
33,463
Deposit account interest
**1,913**
**-**
**1,913**
1,008| |**43,100**
**-**
**43,100**
34,471| |**Total incoming resources**
**56,146**
**-**
**56,146**
53,020
**EXPENDITURE**
**Charitable activities**
Lecture expenses
**(1,341)**
**-**
**(1,341)**
4,254
Library purchases
**61**
**-**
**61**
102
Insurance
**1,237**
**-**
**1,237**
1,790
Cost of literature
**4,762**
**-**
**4,762**
26,021
Subscriptions
**253**
**-**
**253**
253
Prizes
**-**
**-**
**-**
1,077
Rent and administrative expenses
**3,834**
**-**
**3,834**
13,295
Service level agreements
**-**
**-**
**-**
3,000
Grants to institutions
**14,075**
**-**
**14,075**
24,590| |**22,881**
**-**
**22,881**
74,382
**Support costs**
**Governance costs**
Professional fees
**8,855**
**-**
**8,855**
7,068
Carried forward
**8,855**
**-**
**8,855**
7,068| This page does not form part of the statutory financial statements Page 22 **LEICESTERSHIRE ARCHAEOLOGICAL AND HISTORICAL SOCIETY** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025** |**Governance costs**
Brought forward
Accountancy and legal fees|2025
2024
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
£
£
£
£
**8,855**
**-**
**8,855**
7,068
**6,356**
**-**
**6,356**
4,283| |---|---| ||**15,211**
**-**
**15,211**
11,351| |Total resources expended|**38,092**
**-**
**38,092**
85,733| |**Net (expenditure)/income before gains and**
**losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments|**18,054**
**-**
**18,054**
(32,713)
**20,782**
**-**
**20,782**
18,433| |**Net (expenditure)/income**|**38,836**
**-**
**38,836**
(14,280)| This page does not form part of the statutory financial statements Page 23