2021-01-31-accounts - The Bath Preservation Trust Ltd

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			Page
Reference and administrative details ofthe charity, its trustees		and advisers
Trustees' report			2-11
Independent	auditors' report		12 - 14
Consogdated	statement offinancial activities		15
Consolidated	and Company balance sheets		16
Consolidated	statement ofcash flows		17
Notes to the	financial statements		18 - 36

Trustees			Thomas Sheppard,	Thomas Sheppard,		Chair s»	Chair s»
			Diane Aderyn a~
			Robert Dunton ~
			Julie Finch ~"
			David Hall' & Peta Hall u'
			Bruce Haines ~~
			Robert Hellard	'
			Tom Marsha(hra
			Rachel Johnston	(resigned			31 January 2021)~
			Colin Johnston'
			Simon Morray-Jones'
			Robert Taverner	(resigned			2 July 2020) '
			Victoria Thornton		o
			Architecture,	Planning			and Place Committee
			Beckford Tower		Trust Advisory Committee
			Finance Committee
			Museums and	Education			Committee
			Herschel Museum			Advisory		Committee
Company	registered
number			294789
Charity registered
number			203048
Registered		office	1 Royal Crescent
			Bath
			BA1 2LR
Independent		auditors	Bishop Fleming	LLP
			Chartered Accountants
			10Temple Back
			Bristol
			BS1 6FL
Bankers			Lloyds Bank
			47 Milsom Street
			Bath
			BA1 1DN
			CAF Bank Ltd
			25 Kings Hill Avenue
			West Mailing
			Kent
			ME19 4JQ,
Solicitors			Stone King
			13Queen Square
			Bath
			BA1 2HJ

				Restricted	Endowment
			Unrestricted funds	funds	funds	Total funds	Total funds
			2021	2021	2021	2021	2020
		Note	E	6	6	E	E
INCOME AND ENDOWMENTS	FROM:
Donations, legacies and grants			210,006	760,865		970,871	137,662
Charitable activities			153,309			153,309	736,197
Other trading activities			21,210			21,210	126,659
Investments			91,644			91,644	88,607
TOTALINCOME			476,169	760,865	-	1,237,034	1,089,125
EXPENDITURE ON:
Raising funds			36,473			36,473	94,244
Charitable activities			405,500	432,986		838,486	978,952
TOTAL EXPENDITURE			441,973	432,986		874,959	1,073,196
NET INCOME
BEFORE INVESTMENT GAINS			34,196	327,879		362,075	15,929
Net gains/(losses) on investments		12	6,089			6,089	70,063
NET INCOME BEFORE
OTHER RECOGNISED
GAINS AND LOSSES			40,285	327,879		368,164	85,992
NET MOVEMENT IN FUNDS			40,285	327,879		368,164	85,992
RECONCILIATION OF FUNDS:
Total funds brought forward			1,661,937	702,459	291,126	2,655,522	2,569,530
TOTAL FUNDS CARRIED FORWARD			1,702,222	1,030,338	291,126	3,023,686	2,655,522

			GROUP		COMPANY
			2021	2020	2021	2020
		Note	E	6	6	K
FIXED ASSETS
Tangible Assets		11	1,375,273	1,319,426	852,193	871,474
Investments		12	774,023	766 789	499,435	481,102
			2,149,296	2,086,215	1,351,628	1,352,576
CURRENT ASSETS
Stocks		13	13,492	22,017
Debtors		14	33,806	22,104	34,927	44,345
Cash at bank and in	hand	19	980,520	611,799	740,164	379,187
			1,027,818	655,920	775,091	423,532
CREDITORS: amounts	falling due
within one year		15	109,261)	(86,613	(102,650)	(74,521)
NET CURRENT ASSETS			918,557	569,307	672,441	349,011
TOTAL ASSETS LESS	CURRENT LIABILITIES		3,067,853	2,655,522	2,024,069	1,701,587
CREDITORS: amounts	falling due in more
than one year		15	(44,167)		44,167)
NET ASSETS			3,023,686	2,655,522	1,979,902	1,701,587
CHARITY FUNDS
Endowment funds		16	291,126	291,126	231,991	231,991
Restricted funds		16	'I,030,338	702,459	454,336	206,979
Unrestricted funds		16	1,702,222	1,661,937	1,293,575	1,262,617
TOTAL FUNDS			3,023,686	2,655,522	1,979,902	1,701,587

				2021	2020
			Note	E	E
Cash flows from operating	activities
Net cash (used in)/provided	by operating activities		18	335,597	(19,008)
Cash flows from investing	activities
Dividends, interest and rent from investments				91,644	88,607
Purchase of tangible fixed	assets			(100,575)	(7,034)
Purchase of investments				(7,945)	(5,940)
Net cash (used in)/provided by investing		activities		(16,876)	75,633
Cash f(ows from financing	activities
Cash inflows from new borrowings				50,000
Net cash provided by financing activities				50,000
Change in cash and cash equivalents in the		year		368,721	56,625
Cash and cash equivalents	brought forward			611,799	555,174
Cash and cash equivalents	carried forward			980,520	611,799

l value, over their expected	useful lives on the follow	ing
Freehold property	not depreciated
Heritage assets	not depreciated
Fixtures and fittings	5years straight	line
Office equipment	5years straight	line
Other fixed assets	3years straight	line

			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds	Total funds
			2021	2021	2021	2021	2020
			E	E	E	E	E
Legacies							120
Donations			26,805	4,000		30,805	14,289
Grants - coronavirus		related	178,241	590,000		768,241
Grants - other			4,960	166,865		171,825	123,253
Total donations,	legacies and grants		210,006	760,865		970,871	137,662
Total 2020			19,409	118,253		137,662

				Unrestricted	Restricted	Endowment	Total
				funds	funds	funds	funds	Total funds
				2021	2021	2021	202'I	2020
				E	E	E	E	E
Museums admissions			income	128,444			128,444	690,547
Other museums		income		9,052			9,052	20,872
Membership	income			15,813			15,813	24,778
Total income from charitabie activities				153,309			153,309	736,197
Total 2020				736,197			736,197
TRADING ACTIVITIES
				Unrestricted	Restricted	Endowment	Total
				funds	funds	funds	funds	Totalfunds
				2021	2021	2021	2021	2020
				E	E	E	E	f.
TRADING INCOME
No.1 Royal Crescent			(Bath) Limited	20,096			20,096	116,910
Other				1,114			1,114	9,749
				21,210			21,210	126659
FUNDRAISING		TRADING EXPENSES
No.1 Royal Crescent Other			(Bath) Limited	16,783 364			16,783 364	58,387 5,151
				17,147			17,147	63,538
Net income from trading activities				4,063			4,063	63,121
INVESTMENT	INCOME
				Unrestricted	Restricted	Endowment	Total
				funds	funds	funds	funds	Total funds
				2021	2021	2021	2021	2020
				E	E	E	E	E
Investment	income - rent			74,481			74,481	67,952
Investment	income - listed
investments		and bank interest		17,163			17,163	20,655
				91,644			91,644	88,607
Totai 2020				88,607			88,607

			Unrestricted	Restricted	2021	2020
			E	E	E	E
Wages and salaries			287,503	199,941	487,444	510,706
Premises costs:
Insurances			27,869		27,869	27,246
Repairs and maintenance			11,443	13,560	25,003	45,191
Major projects				4,337	4,337	3,517
Heat and light			21,700		21,700	20,121
Other premises	costs		18,351	5,315	23,666	49,029
Opening costs:
Conservation/enhancements			1,077	4,320	5,397	8,038
Leaflets and advertising			2,428	4,272	6,700	40,610
Guides and other opening		costs	13,407	30,734	44, 141	86,639
Costs of members'	support		2,064		2,064	16,681
Administration:
Office and other	costs		33,606	11,193	44,799	55,788
Auditors' remuneration			7,909		7,909	11,283
Professional fees			6,108	58,471	64,579	11,535
Depreciation			8,688	36,040	44,728	40,718
Other costs:
Contribution to	WHSEF					5,000
WHSEF grants				28,150	28,150	46,850
Overheads met from NLHF grants			(36,653)	36,653
Total			405,500	432,986	838,486	978,952
ANALYSIS OF EXPENDITURE BYEXPENDITURE TYPE
		Staff costs	Depreciation	Other costs	Total	Total
		2021	2021	2021	2021	2020
			E	E	E	E
Expenditure on raising funds
Shops and weddings		1,478		15,669	17,147	63,538
Rental property	costs			12,526	12,526	23,823
Investment management		fees		6,800	6,800	6 883
		1,478		34,995	36,473	94,244
Expenditure on charitable
activities		487,444	44,728	298,405	830,577	967,669
Expenditure on governance				7909	7,909	11,283
		488,922	44,728	341,309	874,959	1,073,196
Total 2020		522,427	42,031	508,738	1,073,196

		Freehold	Heritage	Fixtures	Office	Other fixed
		property	assets	and fittings	equipment	assets	Total
CONSOLIDATED		E	f.	E	E	E	E
COST
At 1 February	2020	774,969	482,898	391,873	76,186	8,797	1,734,723
Additions		80,312		6,494	13,769		100,575
At 31 January	2021	855,281	482,898	398,367	89,955	8,797	1,835,298
DEPRECIATION
At 1 February	2020			336,372	70,128	8,797	415,297
Charge for the	year			36,685	8,043		44,728
At 31 January	2021			373,057	78,171	8,797	460,025
NET BOOK VALUE
At 31January	2021	855,281	482,898	25,310	11,784		1,375,273
At 1 February	2020	774,969	482,898	55,501	6,058		1,319,426

			Freehold	Heritage	Fixtures and	Office
			property	assets	fittings	equipment	Total
TRUST			E	E	E	E	E
COST
At 1 February	2020		774,969	46,433	359,399	76,186	1,256,987
Additions					6,494	13,769	20,263
At 31January	2021		774,969	46,433	365,893	89,955	1,277,250
DEPRECIATION
At 1 February	2020				315,386	70,127	385,513
Charge for the	year				31,501	8,043	39,544
At 31January	2021				346,887	78,170	425,057
NET BOOK VALUE
At 31 January	2021		774,969	46,433	19,006	11,785	852,193
At 1 February	2020		774,969	46,433	44,013	6,059	871,474
FIXEDASSET INVESTMENTS
							Total
CONSOLIDATED							E
MARKET VALUE
At 1 February	2020						766,789
Withdrawals/additions							7,945
Revaluations							6,089
Fund management		fees					(6,800)
At 31 January	2021						774,023
CONSOLIDATED INVESTMENTS			AT MARKET	VALUE COMPRISE:
						2021	2020
						E	E
Listed investments						774,023	766,789

					Shares in
				Listed	group
TRUST				securities 6	undertakings E	Total f
MARKET VALUE
At 1 February	2020			481,100	2	481,102
Withdrawals/additions				7,945		7,945
Revaluations				15,374		15,374
Fund management		fees		4,986)		4,986
At 31January	2021			499,433	2	499,435
COMPANY INVESTMENTS AT MARKET VALUE COMPRISE:
					2021	2020
					E	E
Listed investments					499,433	481,100
Group					2	2
Total					499 435	481,102
All the fixed	asset investments		are held in the UK.
STOCKS
			CONSOLIDATED			TRUST
			2021	2020	2021	2020
			E	E	6
Goods for resale			13,492	22,017

			CONSOLIDATED	CONSOLIDATED		TRUST
			2021	2020	2021	2020
			E	6	f.	E
Amounts	owed by group undertakings				17,303	33,161
Trade debtors			7,007	1,676	1,093	961
Prepayments		and accrued income	26,799	20,428	16,531	10,223
			33,806	22,104	34,927	44,345

Bank loans one year	- repayments due a	- repayments due a	fter more th	an 44,167 44,167	44,167 44,167
Bank loans	represent amounts		outstanding	under the Bounce Back Loan Scheme:
Repayments	due within	one year		5,833	5,833
Repayments	due within	two to	five years	44,167	44,167
				50,000	50,000

	Balance at
	1 February			Transfers	Gains/	Balance at 31
	2020	Income	Expenditure	In/out	(Losses)	January 2021
	E	E		E	E	E
DESIGNATED FUNDS
Invested in property	542,978					542,978
Future maintenance	512,$52			17,055		529,907
Future loss of income	268,777			(5,33$)		263,439
Operating costs	25,600					25,600
Carl and Jeannette Mays Fund	116,535	2,960	(4,980)			114,515
	1,466,742	2,960	(4,980)	11,717	-	1,476,439
GENERAL FUNDS
Bath Preservation Trust	192,702	356,993	(339,389)	-	15,374	225,680
Herschel House Trust		60,565	(50,366)	5,338	(15,537)
Beckford Tower Trust		35,555	(24,752)	(17,055)	6,252
No.1 RoyalCrescent Ltd	2,493	20,096	(22,486)			103
TOTAL FREE RESERVES	195,195	473,209	(436,993)	(11,717)	6,089	225,783
TOTAL UNRESTRICTED FUNDS	1,661,937	476,169	(441,973)		6,089	1,702,222
ENDOWMENT FUNDS
Beckford Tower Trust	59,135					59,135
Bath Preservation Trust	231,991					231,991
	291,126					291,126

RESTRICTED FUNDS
				Balance at
				1 February			Transfers	Gains/	Balance at 31
				2020	Income	Expenditure	in/out	(Losses)	January 2021
				E	E	6		E	E
BPTAssets:
Museum Exhibits				26,160					26,160
The Whole Story MoBA Display cases				30,148 17,271		(21,854) (5,757)			8,294 11,514
NLHF grant assets					20,263	(6,754)			13,509
BPTFunds:
WHSEF				79,809	507	(30,586)			49,730
Donations for Education				1,620	500	(435)			1,685
Costumed Interpretation				4,280		(430)			3,850
Bath in Time				3,764					3,764
Exhibition grants				6,008	2,553	(7,636)			925
BGS Cayser Charitable		Trust		14,200					14,200
Coronavirus donations NLHF Emergency grant NLHF CRF grant Other grants			(planning)	23,719	4,000 155,1i6 405,154	(4,000) (155,116) (107,603) (565)			297,551 23,154
				206,979	588,093	(340,736)			454,336
BTTAssets:
Cabinet				64,000					64,000
Coffer				324,000					324,000
Beckford book/ letters The Paddocks				3,831	80,312				3,831 80,312
BTTFunds:
Cemetery costs ft other Rimington Legacy Beckford Project Phase			grants 1	2,212 49,916 10,881	184 20,288	(184) (5,299)			2,212 49,916 25,870
"Our Tower" NLHF Project					51,986	(66,851)			(14,865)
				454,840	152,770	(72,334)			535,276
HHT Assets:
Museum Exhibits				23,825					23,825
Display cases				4,512		(1,674)			2,838
HHT Funds:
Royal Astronomical Other grants Spark grant AIM Collection Care	Society			8,974 586 2,743	2,301 6,176 2,058	(79) (4,560) (4,136)			8,974 2,808 4,359 (2,078)
NLHF Covid grants					9,467	(9,467)
				40,640	20,002	(19,916)			40,726
TOTAL RESTRICTED	FUNDS			702,459	760,865	(432,986)			1,030,338
TOTAL OF FUNDS				2,655,522	1,237,034	(874,959)		6,089	3,023,686

STATEMENT OF FUNDS - PRIOR	YEAR
	Balance at 1
	February			Transfers	Gains/	Balance at 31
	2019	Income	Expenditure	in/out	(Losses)	January 2020
	E.	E	E	E	E	f.
DESIGNATED FUNDS
Invested in property	542,978					542,978
Future maintenance	487,642		(13,381)	38,591		512,852
Future loss of income	232,452			36,325		268,777
Operating costs	24,500			1,100		25,600
Cari and Jeannette Mays Fund	116,535					116,535
	1,404,107		(13,381)	76,016		1,466,742
GENERAL FUNDS
Bath Preservation Trust	148,624	723,675	(723,179)	3,272	40,310	192,702
Herschel House Trust		98,507	(75,467)	(36,687)	13,647
Beckford Tower Trust		31,780	(36,645)	(11,241)	16,106
No. 1 RoyalCrescent Ltd	3,806	116,910	(86,863)	(31,360)		2,493
TOTAL FREE RESERVES	152,430	970,872	(922,154)	(76,016)	70,063	195,195
TOTAL UNRESTRICTED FUNDS	1,556,537	970,872	(935,535)		70,063	1,661,937
ENDOWMENT FUNDS
Beckford Tower Trust	59,135					59,135
Bath Preservation Trust	231,991					231,991
	291,126					291,126

				Balance at 1
				February			Transfers		Gains/	Balance at 31
				2019	Income	Expenditure	in/out		(Losses)	January 2020
				E	8	E		E	E	E
BPTAssets:
Museum Exhibits				26,160						26,160
The Whole Story				52,924		(22,776)				30,148
MoBA Display cases				23,028		(5,757)				17,271
BPTFunds:
WHSEF				102,779	26,308	(49,278)				79,809
Donations for Education				850	2,525	(1,755)				1,620
Costumed Interpretation				7,629		(3,349)				4,280
BfrNES					4,000	(2,422)				1,578
Bath in Time				3,764						3,764
NHLF - PPIC exhibition					11,980	(7,289)				4,691
Power of Perception		exhibition			13,220	(11,903)				1 317
BGSCayser Charitable			Trust		14,200					14,200
Other grants				16,667	19,974	14,500				22,141
				233,801	92 207	119,029)				206,979
BTTAssets:
Cabinet				64,000						64,000
Coffer				324,000						324,000
Beckford book/letters				3,831						3,831
BTTFunds:
Cemetery costs				2,146						2,146
Rimington Legacy				50,017		(101)				49,916
Beckford Project Phase			1		11,650	(769)				10,881
BBNES					2,000	(1,934				66
				443,994	13,650	(2 804				454,840
HHT Assets:
Museum Exhibits				23,825						23,825
Display cases				6,186		(1,674)				4,512
HHT Funds:
BBNES					2,000	(1,000)				1,000
Royal Astronomical		Society		8,974						8,974
NLHF PPIC exhibition					4,220	(4,734)				(514)
AIM Consewation	Audit					(1,287)				(1,287)
Spark grant					6,176	(3,433)				2,743
Other grants				5,087		3,700)				1,387
				44,072	12,396	(15,828				40,640
TOTAL RESTRICTED FUNDS				721,867	118,253	(137,661				702,459
TOTAL OF FUNDS				2,569,530	1,089,125	(1,073,196)			70,063	2 655,522

SUMMARY	OF FUNDS - PRIOR YE	AR
		Salance	at 1
		February				Transfers	Gains/	Balance at 31
			2019	Income Expenditure		in/out	(Losses}	January 2020
			E	E	f.	E	E	E
Designated	funds	1,404,107			(13,381)	76,016		1,466,742
General funds		152,430		970,872 (922,154)		(76,016)	70,063	195,195
		1,556,537		970,872 (935,535)			70,063	1,661,937
Endowmentfunds		291,126						291,126
Restricted	funds	721,867		118,253 (137,661)				702,459
		2,569,530		1,089,125 (1,073,196)		-	70,063	2,655, 522
17.ANALYSIS OF NET ASSETS BETWEEN			FUNDS
ANALYSIS	OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
				Unrestricted	Restricted Endowment
				funds		funds	funds	Total funds
				2021		2021	2021	2021
				E		E	E	E
Tangible fixed assets				5&4,628	558,654		231,991	1,375,273
Fixed asset investments				714,888			59,135	774,023
Current assets				556,134	471,684			1,027,818
Creditors	due within one year			(109,261)				(109,261)
Creditors	due after more than one year			44,167				(44,167)
				1,702,222	1,030,338		291,126	3,023,686
ANALYSIS	OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
				Unrestricted	Restricted Endowment
				funds		funds	funds	Totalfunds
				2020		2020	2020	2020
				E		E	E	E
Tangible fixed assets				593,317	494,118		231,991	1,319,426
Fixed asset investments				707,654			59,135	766,789
Current assets				447,579	208,341			655,920
Creditors	due within one year			(86,613)				(86,613)
				1,661,937	702,459		291,126	2,655,522