2024-03-31-accounts - Alford And District Civic Trust Limited

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REGISTERED COMPANY NUMBER: 00900361 (England and Wales) REGISTERED CHARITY NUMBER: 252330

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ALFORD & DISTRICT CIVIC TRUST LIMITED

Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

ALFORD & DISTRICT CIVIC TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

		Page
Report of the Trustees	1	to	5
Independent Examiner's Report		6
Statement of Financial Activities		7
Balance Sheet	8	to	9
Notes to the Financial Statements	10	to	19

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

COUNCIL MEMBERS' ANNUAL REPORT YEAR ENDED 31 MARCH 2024

The council members, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31st March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisors on page 1 of the financial statements.

THE COUNCIL MEMBERS ARE

The Council Members who served the company during the period were:

Mr R Quantrell Mrs S Spenceley Mrs K M Farrer Mr A R Vincent Mrs M Fulwood Mr D F Bell Mr K M Penson Miss L M Birkett

The Company Secretary who served the company during the period was as follows:

Mr G Allen

Page 1

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust is a charitable company limited by guarantee, incorporated on 9th March 1967 and registered as a charity on 26th June 1967. The trust was established under a Memorandum of Association which established its objects and powers, and is governed by a Managing Council under its Articles of Association (last varied on the 30th September 2011. In the event of winding up or dissolution Clause 58 of the Memorandum of the Articles of Association specifies that any remaining property shall be given or transferred, to some charity or charities for use for particular purposes that fall within the Trust's objects, and failing that, applied for charitable purposes as directed by the Court or the Charity Commission.

None of the Council Members have any beneficial interest in the trust. All of the Council Members are members of the Trust, and guarantee to contribute £1 in the event of a winding up.

All Council Members are familiar with the practical work of the Trust, most having been Council Members for a considerable time.

All Council Members are appointed. The Company Secretary advises them of their obligations by reference to the Charity Commission guide 'The Essential Trustee', and the Memorandum and Articles of Association. They are kept up to date on relevant new requirements.

The Council Members continually assess the major risks to which the Trust is exposed, and take all prudent steps to address and mitigate all risks. In this regard, with effect from 1st April 2013 all trading activities of the charity were transferred to Alford Manor House Ltd, a wholly owned subsidiary of the charitable company, constituted for that purpose and managed by separate directors under the direction of the Trust. The trading company was granted a non-exclusive licence to share the occupation of the Manor House with the charitable company, for the purpose of the trading activity on terms as to contribution towards the outgoings of th Manor House and to account for its profits to the charitable company.

OBJECTIVES AND ACTIVITIES

The Trust's principal objects are to preserve, for the benefit of the public, the natural, artistic and cultural amenities of the town of Alford and it's neighborhood. In practice, the main focus of the charity has been the preservation of the Alford Manor House which is owned and managed by the Trust (having been gifted by the late Miss Dorothy Higgins who orchestrated the formation of the Trust).

PUBLIC BENEFIT

The Council Members have due regard to the guidance published by the Charity Commission on matters of public benefit, and keep under constant review the need to satisfy the requirements of identifiable benefit to the public.

ACHIEVEMENTS AND PERFORMANCE

The Trust is the owner of the Alford Manor House, an extremely important building, thought to have been the largest such thatched Manor House in the country, which dates back to 1611. The property having fallen into disrepair and in a dangerous condition, was restored by the Trust and reopened in 2006, after expenditure which included upwards of £1m of lottery and public funding.

The distinguished House occupies a prominent position in the town, and has a pivotal role in the community. The House itself, the Museum of Rural Life in the grounds, and walled gardens are major visitor attraction. The property is central to the local arts and crafts industry. The House hosts live theatre, music and food market festivals, cultural and educational activities, and displays of all kinds.

Alford Manor House is sustained by income from visitors to the charitable objects, from membership subscription, donations, fund-raising activities, and from private hire of the house and grounds for weddings, gatherings and trading activity derived from the shop and tea room.

Page 2

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Quinquennial reviews provide a schedule and timetable for continuous expenditure requirements on the building fabric of the Manor House, which is reflected in the charitable company's business plan.

FINANCIAL REVIEW

A stronger financial basis of the Trust since the scheme of restoration of the Alford Manor House enabled the Directors to start a "sinking" fund for the longer term maintenance programme for the structure of the House, and which the Directors have endeavoured to maintain in the period covered by this Report. However, necessarily, there has also been significant expenditure, out of current income, on essential repair and maintenance of the House, its fittings and equipment.

During the financial year covered by this report, it became apparent that for many years, the amount being paid for electricity supplied to the Manor House was only one tenth of the amount that was actually due. This was revealed when a new meter was installed in May 2021, and the electricity provider has been pursuing a claim for the cost of electricity not paid for back to that date. By the 31st March 2024, it was clear that the amount needed to settle this debt would be around £30,000. It was understood by the Directors, that once this dispute had been settled and the agreed debt paid, the designation of the reserves, which would be substantially reduced, would have to be re-considered.

The volunteer basis of the management of the charitable company and its subsidiary, and the day to day running of the Trust continues to underpin the Directors' business plan (with a tea-room manageress/caterer/bar supervisor (and, from time to time, part time assistants) the only significant permanent salary costs).

RESERVES POLICY

With the doubling of insurance costs and the extraordinary rise in energy bills since 2022, coupled with the fact that the charity will now have to pay for all of the electricity it uses, holding sufficient funds to cover one year's operating costs will not be possible for the next 2 years until reserves can be rebuilt. However, the use of the Xero software accounting system is giving a much clearer view of the financial situation on a month to month and quarter to quarter basis, so that potential financial problems can be spotted sooner and be much more easily dealt with.

A major difficulty occurred during this financial year when Barclays Bank which held all of our accounts for both Alford & District Civic Trust Limited and Alford Manor House Limited decided to close them for no understandable reason. This happened to a very large number of other charities nationwide at the same time. This problem lasted until December 2023, when again without explanation, the account for Alford Manor House Limited was re-opened. This did not happen with the accounts for Alford & District Civic Trust Limited, so new accounts for that company were opened with the Charities Aid Foundation Bank.

ASSET COVER FOR FUNDS

Note 14 sets out an analysis of the assets attributable to the various funds and gives a description of the funds set aside as designated funds. Currently, restricted funds in hand are limited to a grant to assist towards the cost of obtaining consultancy advice to renew the museum accreditation of the House. This work is now progressing. The designation of the funds will be reviewed when the dispute over the electricity charges has been resolved.

PLANS FOR THE FUTURE

Having particular regard to the limitations of the business opportunities of the current multiple uses of the House arising from its Listed status, the challenges for the Trustees to manage the issues touched upon in preceding paragraph,s include to scale up the income sources to meet the known and predicted inflation in operating costs and to rebuild reserves. In this regard, it has long been thought that only the permanent replacement of the House marquee by an Orangery (or other building in which events could be held) would facilitate the kind of long term financial stability required.

Page 3

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

During the year, significant progress was made through negotiations with the local Conservation Manager and our partners in the Levelling Up Fund Project - East Lindsey District Council, to design an events venue; a building that would be acceptable to all parties. The funding was awarded on condition that the money be spent by the end of March 2026, and following the award of planning permission, and appointment of a building contactor, work starts in earnest at the end of January 2025. As well as the new building, the electric heating system in the House is to be updated with a more controllable and efficient system, and a permanent shelter for the vintage agricultural machinery held in our Museum of Country Life is to be erected. A contribution from this funding stream will also be made towards the cost of a new thatch for the whole building, which our quinquennial review has shown is required in the next 5 years, but funding from other sources will be required before this work can be commissioned.

INDEPENDENT EXAMINER

Our new independent examiner is Nicola Lenton FCCA of Dexter & Sharpe - Chartered Certified Accountants.

STATEMENT OF RESPONSIBILITIES

The Council Members are responsible for preparing a trustee's annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Council Members to prepare financial statements each year which give a true and fair view of the state of the affairs of the charity, and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the Council Members are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charity will continue in business

The Council Members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company, and to enable them to ensure that the financial statements comply with the Companies Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and in accordance with the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00900361 (England and Wales)

Registered Charity number

252330

Page 4

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Registered office Alford Manor House West Street Alford Lincolnshire LN13 9HT

Trustees

R Quantrell Mrs M Fulwood Mrs K Farrar D F Bell Mrs S M A Spenceley A R Vincent K M Penson Mrs L M Birkett

Company Secretary G Allen

Independent Examiner

Nicola Lenton FCCA Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

Approved by order of the board of trustees on 20 December 2024 and signed on its behalf by:

R Quantrell - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALFORD & DISTRICT CIVIC TRUST LIMITED

Independent examiner's report to the trustees of Alford & District Civic Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

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

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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.

Nicola Lenton FCCA

Dexter & Sharpe (Skegness) Chartered Certified Accountants 26 Ida Road Skegness Lincolnshire PE25 2AR

23 December 2024

Page 6

ALFORD & DISTRICT CIVIC TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2024 2023
Unrestricted Designated Restricted Total Total
funds Funds fund funds funds
Notes £ £ £ £ £
INCOME AND
ENDOWMENTS FROM
- -
Donations and legacies 47,801 47,801 21,460
Other trading activities 2 17,189 - - 17,189 8,558
Investment income 3 129 - - 129 -
Total 65,119 - - 65,119 30,018
EXPENDITURE ON
Raising funds 4 1,998 - - 1,998 1,053
Charitable activities
Cost of Charitable Activities 60,783 - - 60,783 33,385
Total 62,781 - - 62,781 34,438
NET
- -
INCOME/(EXPENDITURE) 2,338 2,338 (4,420)
RECONCILIATION OF
FUNDS
Total funds brought forward 1,271,371 43,251 1,225 1,315,847 1,320,267
TOTAL FUNDS CARRIED
FORWARD 1,273,709 43,251 1,225 1,318,185 1,315,847
----- End of picture text -----

The notes form part of these financial statements

Page 7

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

BALANCE SHEET 31 MARCH 2024

----- Start of picture text -----
2024 2023
Unrestricted Designated Restricted Total Total
funds Funds fund funds funds
Notes £ £ £ £ £
FIXED ASSETS
Tangible assets 9 2,847 - - 2,847 6,414
Heritage assets 10 1,232,748 - - 1,232,748 1,232,748
Investments 11 100 - - 100 100
- -
1,235,695 1,235,695 1,239,262
CURRENT ASSETS
Debtors 12 31,151 - - 31,151 25,021
Cash at bank and in hand 10,545 43,251 1,225 55,021 56,202
41,696 43,251 1,225 86,172 81,223
CREDITORS
Amounts falling due within one
year 13 (3,682) - - (3,682) (4,638)
NET CURRENT ASSETS 38,014 43,251 1,225 82,490 76,585
TOTAL ASSETS LESS
CURRENT LIABILITIES 1,273,709 43,251 1,225 1,318,185 1,315,847
NET ASSETS 1,273,709 43,251 1,225 1,318,185 1,315,847
FUNDS 14
Unrestricted funds 1,316,960 1,314,622
Restricted funds 1,225 1,225
TOTAL FUNDS 1,318,185 1,315,847
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 notes form part of these financial statements

continued...

Page 8

ALFORD & DISTRICT CIVIC TRUST LIMITED (REGISTERED NUMBER: 00900361)

BALANCE SHEET - continued 31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2024 and were signed on its behalf by:

Trustee

The notes form part of these financial statements

Page 9

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

Taxation

The charity is exempt from corporation tax on its charitable activities.

1) General information

The charity is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Alford Manor House, West Street, Alford, LN13 9HT, Lincolnshire.

2) STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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), (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

3) ACCOUNTING POLICIES

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of Accounting

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The charity 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.

b) Going concern

The Council Members consider that there are no material uncertainties about the charity's ability to continue as a going concern.

c) Consolidation

The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.

d) Fund accounting

continued...

Page 10

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

1) general information

Unrestricted funds are available for use at the discretion of the Council Members to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the Council Members for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor, or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

e) Incoming Resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Income from grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

f) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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 the resources.

g) Fixed assets

All fixed assets are initially recorded at cost.

Depreciation is calculated so that to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment over 3 years Straight Line

A review for indicators of impairment is carried out each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

h) Heritage assets

continued...

Page 11

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

1) general information

The charity holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity. The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is, therefore, not provided.

i) Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayment are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity, or three months or less from the date of acquisition, or opening of the deposit or similar account.

l) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investment in shares are publicly traded, or their fair view can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

continued...

Page 12

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2. OTHER TRADING ACTIVITIES
2024 2023
£ £
Events and exhibitions 1,405 1,478
Subscriptions 715 1,677
Barn museum admissions 2,002 2,215
General admissions 3,031 3,188
Room hire 9,751 -
Tractor run income 285 -
17,189 8,558
3. INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 129 -
4. RAISING FUNDS
Investment management costs
2024 2023
£ £
Publicity and advertising 232 175
Events and exhibitions 1,766 878
1,998 1,053
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024 2023
£ £
Depreciation - owned assets 3,807 3,028
----- End of picture text -----

continued...

Page 13

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

ALFORD & DISTRICT CIVIC TRUST LIMITED

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

7. STAFF COSTS

No salaries or wages have been paid to employees, including members of the council, during the year.

The Charity's Tea Room and Functions activities were carried out by it's subsidiary trading company Alford Manor House Limited during the year. Associated staff costs are included in the accounts of that company.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Total EXPENDITURE ON Raising funds Charitable activities Cost of Charitable Activities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 20,235 8,558 28,793 1,053 33,385 34,438 (5,645) 1,273,416 1,267,771	Designated Funds £ - - - - - - - 46,851 46,851	Restricted fund £ 1,225 - 1,225 - - - 1,225 - 1,225	Total funds £ 21,460 8,558 30,018 1,053 33,385 34,438 (4,420) 1,320,267 1,315,847

continued...

Page 14

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS

COST At 1 April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 10. HERITAGE ASSETS MARKET VALUE At 1 April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023	Plant and machinery £ 29,959 240 (1,174) 29,025 23,545 3,807 (1,174) 26,178 2,847 6,414 Total £ 1,232,748 1,232,748 1,232,748

Heritage assets in the Balance Sheet are represented by Alford Manor House, which was built in 1611 and is reputedly the largest thatched manor house in the country, together with its grounds and outbuildings. The property was extensively restored by the Trust and reopened to the public in 2006.

continued...

Page 15

ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. FIXED ASSET INVESTMENTS

----- Start of picture text -----
||| |---|---| |Unlisted| |investments| |£| |MARKET VALUE| |At 1 April 2023 and 31 March 2024|100| |NET BOOK VALUE| |At 31 March 2024|100| |At 31 March 2023|100|

----- End of picture text -----

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Alford Manor House Limited

Registered office: West Street, Alford, LN13 9HT Nature of business: Events and catering

----- Start of picture text -----
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Aggregate capital and reserves|100|100| |Profit for the year|26,250|16,530|

----- End of picture text -----

The investment above is shown at cost.

The company owns 100% of the issued share capital of the company listed above.

The wholly owned trading subsidiary, Alford Manor House Limited, is incorporated in the United Kingdom (Company number 07564261) and all profits generated by Alford Manor House Limited through trading and associated activities are donated under Gift Aid to Alford and District Civic Trust Limited. Alford Manor House Limited operates as the tea room and functions carried out at the Alford Manor House.

Under the provision of section 398 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so. Therefore the accounts show information about the company as an individual entity.

continued...

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ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
12. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 905 -
-
Prepayments 1,014
905 1,014
Amounts falling due after more than one year:
Amounts owed by group undertakings 30,246 24,007
Aggregate amounts 31,151 25,021
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 1,812 -
VAT 70 -
Accrued expenses 1,800 4,638
3,682 4,638
14. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
General fund 1,271,371 2,338 1,273,709
-
Designated funds - Orangery 9,827 9,827
-
Designated funds - Sinking fund 33,424 33,424
1,314,622 2,338 1,316,960
Restricted funds
Restricted 1,225 - 1,225
TOTAL FUNDS 1,315,847 2,338 1,318,185
----- End of picture text -----

continued...

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ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund	Incoming Resources resources expended £ £ 65,119 (62,781)	Movement in funds £ 2,338
TOTAL FUNDS	65,119 (62,781)	2,338

Comparatives for movement in funds

At 1.4.22 £ Unrestricted funds General fund 1,273,416 Designated funds - Orangery 9,827 Designated funds - Sinking fund 37,024 1,320,267 Restricted funds Restricted - TOTAL FUNDS 1,320,267 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 28,793 Restricted funds Restricted 1,225 TOTAL FUNDS 30,018	Net movement in funds £ (5,645) - - (5,645) 1,225 (4,420) Resources expended £ (34,438) - (34,438)	At 31.3.23 £ 1,267,771 9,827 37,024 1,314,622 1,225 1,315,847 Movement in funds £ (5,645) 1,225 (4,420)

continued...

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ALFORD & DISTRICT CIVIC TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Designated funds - Orangery Designated funds - Sinking fund Restricted funds Restricted TOTAL FUNDS	At 1.4.22 £ 1,273,416 9,827 37,024 1,320,267 - 1,320,267	Net movement in funds £ (3,307) - - (3,307) 1,225 (2,082)	At 31.3.24 £ 1,270,109 9,827 37,024 1,316,960 1,225 1,318,185

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted	Incoming Resources Movement resources expended in funds £ £ £ 93,912 (97,219) (3,307) 1,225 - 1,225
TOTAL FUNDS	95,137 (97,219) (2,082)

15. COUNCIL MEMBERS & RELATED PARTY TRANSACTIONS

None of the council members (or any persons connected with them) received any remuneration or travelling expenses during the year. There have been no related party transactions in the reporting periods that require disclosure.

Alford & District Civic Trust Limited is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the charitable company in the event of it being wound up.

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