Company No: 1174289 Reglstered Chadty No: 267999 LAMPORT HALL PRESERVATION TRUST LIMrrED IA COMPANY LIMrrED BY GUARANTEE) AND ITS SUBSIDIARY UNDERTAKINGS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Financlal statoments for tho yoar •ndod 31 March 2024 Contsnts Pago Legal and adminislralive Informatlon Report of the trustees 2-12 Ind8pend8nt auditorfs r8POrt to the members 13-16 Consolidated statement of financial activibes for the year ended 31 March 2024 17-18 Consolmlated statement of financial activities for the year ended 31 March 2023 19-20 Consolidated balance sheet 21 Charitable company balance sheet 22 Con$olid81ed ststement of cash flows 23 Notes to the financial statements 24-40
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Reference and Administrative Details of the Charity, its Trustees and Advisors Directors and Trustees: R L V Isham (Chairman) Lady Robinson. BA C D J Holborow, DL R W Newman C L Brudenell JTGHarris P A Fenton W R Butterfield. DL (resigned 18 June 2023> Executive Dlrector and Setary. M Herrod Registered office.. Lamport Hall Lamport Northampton NN6 9HD Company registration number. 1174289 Charity registration number.. 267999 Auditor: Cooper Pary Group Limlted Statutory Auditor Cubo Binningham Two Chamberlain Square Birmingham B3 3AX Bankers: Virgin Money 7 Gold Str88t Northampton NN1 1EN Investment managers.. Charles Stanley & Co. Ltd 25 Luke Street London EC2A 4AR Rathbones Investment Management Ltd Port of Liverpool Building Pier Head Llverpool L3 1NW Sarasins & Partners LLP Juxon House 100 St. Paul's Churchyard London EC4M 88U
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Refernnca and Admlnistrative Details of the Charity, its Trustees and Advisors (contlnued) Solicitors.. HCR Hewitsons Lancaster House Nunn Mills Road Northampton NN15GE
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual rep¢)rt of tho Trustees {incorporating the report ot tho Dlrectors} for the year ended 31 March 2024 Struclure. Governance and Management FORMATION The Lamport Hall Preservation Trust was fomied by Sir Gyles Isham by Deed dated 181h Jung 1974. His intention at the lime was to gift th8 whole estat8 at Lamporl into trust for the public benefit. On his death In 1976, withln the tems of his will, Lamport Hall together with the outbuildings and park. pictures, books, silver. documents and other contents was pa$$ed to the newly created Preservation Trust. The balance of his estate. comprlsing f8nns, houses and the villag8 hall, were left by way of endowment to what is now named the Lamport Endowment Eslale, which forms part of the Charty. The constitution of Ihe Charity was formalised in 1986 by the adoption of a Consolidatlon document which also confimed the Charity as a company limited by guarantee. The Trustees have formed a farming company, Lamport Fams Limited, originally to actively farm 1,040 acres ofthe Endowment Estate and this enterprise has expanded lo approximately 1,400 acres as fami tenancies to third partles have ended. This cornpany gift aids lis tsxable profits to the Endowment Estate. In addition, Lamport Enterprises Limited was fomied in 1983 to trade around the Hall, outbuildings and parks and gift aids all of its taxabl8 profits to the Préservation Trust. TRUSTEES The Trustees that served during the year are listed below. The Truste8s continue to serve to the date of this report.. R L V Isham (Chaimian) W R Butterfield, DL" Lady Robinson, BA C D J Holborrow, DL R W Nawman C L Brudenell, DL J T G Harris P Fenton ' W R Butterfield retired as a Trustee and as a director of Lamport Fams Ltd and Lamporl Enterprises Ltd on 18 June 2023 following a lengthy and valued service to the Trust both as Chaimian of LamFQrt Hall Preservation Trust, pr8C8ding the current Chairman and latt8rly, being Chaiman of Lamport Famis Ltd. J T G Harris sUCeded Mr. Butterfield as Chairman of Lamport Farms Ltd. The intention is that the Trustees represent a range of skills relevant to the Charity. New Trustees are appointed only rf they can demonstrate to the current Trustees that they: Have a long term commitment to the Charty. and will bring skills which are needed by and relevant to the objectives of the Charity. Before appoinlment, prospective Trustees are invited to attend a Trustees, meeting and given an in-depth tour of the Charily's total estate together with a datailed commentary by the Executive Director on relevant issues relating to the constituent parts and their contribution to the objectives of the Charity.
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of the Trustees (incorporating tha report of the Directors) for the year ended 31 March 2024 (contlnued) TRUSTEES {contlnued) In addition, they are fumished with a copy of the constitution of th8 Charity. up to dale financial information and a copy of the five year plan. The Board of Trusl88s as a body is conscious of the need to keep abreast of legal developments and changes in order for them to contribute to the welfare of the Charity. STRATEGIC MANAGEMENT The Trustees meet formally three times 6ach year to consider all matt8rs of policy and man8gement which are then given to the Execuiive Director for implementation. TACTICAL MANAGEMENT The Executive Director is responsible for the Implementation of the Trustees. pollcles and is the de facto Chief Ex8CLrtive of the Trust and ts asso¢iated businesses. He is in regular contact with his Chairmen and in particular the Chairmen of the Preservation Trust and Famiing Company. Three addition81 meetings each year are held been the Executive Director and all thr88 Chaimen. One of these meetings acts as an audit & investmenl committee and includes a Truste8 who is a buslnessman. In addition an Estate and Farm Walk takes place, usually late spring or early autumn, when the Trustees vlew the propertles and farm at flrst hand. RISK ASSESSMENT The Trustees have in place a Risk Registgr. This addresses the malor governance. operational, financ4al, reputational, legal and regulatory risks which might impact upon the Trust's cor8 purposes and key objectives. This builds on the existing risk management in many aspects ofthe Trust's work In areas such as financlal management, health and safety, fi and security and disaster planning arrangèments lo protecl both property and people. The Register Is reviewed on an annual basis, and the Executive Director reports to the trustees on an annual basis whether any changes have been made. The Trust has a robust safeguarding policy which is reviewed regularfy. All members of staff and volunteers which are likely to come into contact with members of the public have up-to-date Disclosure & Barring SeNice certification and attend a programm8 of safeguarding training. The Trust adopted a Tree Safety Policy for the Estate's land In March 2008. The Tree Safety Policy Identifies and assesses hazards and risks and prioritises any works required. In accordance with the policy. checks are undertaken on an annual basis each spring. The Trust also has a Health and Safety Policy which was prepared in 2021 under the supervision of a third-paty specialist. The Trust continues to have an annual H8allh and Safety Review and an annual inspection of the fire extinguishing appliances in the Hall and outbuildings. The Tr88 Safety Policy and the Heatth and Safety Policy are reviewed on an annual basis.
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of the Trustees (Incorporallng the report of the Dlrectors) for the year ended 31 March 2024 Icontinued) Ob'octs and Actlvltles OBJECTIVES The Memorandum of Association of Lamport Hall Preservation Trust Limited, as amended by Special Resolution in 1984, sets the objects of the Trust as being the advancement of historic and aesthetic edueallon, in particular to: Preserve as national monuments buildings of national historic or architectural or artistic interest and importance and to protect and improve the am8nities of $u¢h buildings and thèir surroundings., Preserv8 for the benefft of the nation and as an adjun¢t to any suGh buildings as aforesaid fvrniture, pictures and other chatt8ls of national historic or artÉstic interest.. Facilitate and encourage the access to and the study and appreciation of such buildings, fumiture, pictures and chattèls as afor8said by the general public. and Fund, create, malntsin and offer s¢holarships exhibitions prizes and rewards for educational purposes and in particular for purposes Connected with historic or aesthetic education. In furtherance of the above general and primary objects but not otherwise th8 Trust shall have th8 following powers: To aCpt gifts of any interest in any real or personal property (including in particular the Mansion known as Lamport H811 in the County of Northampton and the contents thereof or any part or parts thereof respectively) for the general purposes of the Trust or for any patticular purpose thereof", and Subject to the provisions of any underlaking given to the H.M Treasury in rgspect of Lamport Hall or any other property which is the subject matter of any Treasury Direction under the provisions of Paragraphs 13 {1) and (1AI of Schedule 6 to the Finan Act 1975 to purchase, take on lease or in exchange or on loan, hire or otherwise acquire any real or personal property and any rights or priviléges necessary for the promotion of the objects of the trust. Achlevements and Perfomiance The restoration of the Library was completed early in 2023. The restoration was undertaken mainly by in-house specialists supported by expert advice and research from extemal heritage professionals. All of the books were removed, assessed for condition and temporary works undertaken to stabilise them, where appropriate. The books were cleaned and returned to the library after the ¢ompletion of the decoration works. Research was underway to plan the paIntIng of the High Room, wilh spècialist support from Lincoln Conservation. Three palntings in the room would be sènt for Cleaning and r8Storation in 2024. The new front of house visitor welcom8 d8sk was mat with positive feedback from visitors and will be further developed during 2024. Additions to the café included two new "snug. rooms and increased opening hours to meet demand from addibonal events and a new initiative to provide a café workspace for parents of nearby schools between dropping off and collecting children. Funding was secured from the Finnis Scott Foundation to support the restoration of the Alpine Garden. Planning work was commenced during th8 year although the prcyect Wld be completed during the ftillowing year.
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Annual réport of the Trusteos {incorporating the report of tho Dlrectors) for the year ended 31 March 2024 (contlnuedl Achi8vem8nts and Performance (continued) Reported previously, the annual benefits r8sulting from the Countryside St8wardship Scheme continu8 to be seen, with the conservation work undertak8n throu9h the scheme mplimentIng the objectives of the Trust and its work in preserving Ihe Hall and surroundings for public benefit. Annual Iree surgery was carried out in accordance with the Parkland Management Plan, to Improve the safety and heatth of the trees growing in the park. The fastigiate yews were wired up. improving the overall appgarance of the gardens. Much of the above has meant that some costs have been Incurred, but the Twstees consid8r that they are consistent with the obj8Ctiv8s of lh8 Charity. CURRENT ACTIVITY The Endowment Estate, Lamport Enterprises Limited and Lamport Famis Limited continue to provide revenue for the Preservation Trust. New, appropriate. ways to increase revenue are always being sought. Endowment Estate As opportunlties aris&. improvements continue to be made to the residentlal properties on the Estate, with all cottages being modernlsed when they become vacanL Where cottages have been re-lot, in all cases they have been16t at a rant grèalar than the previous tenanw. Where vacant propert18s could accommodate home working spaces. these have b8en incorporated prior to reletting to make them more attractive to tenants. increasing the renLql value and hopefully ensuring long-term lettings. The relationship wilh a specialist third party fimi to help ensure that all let properties are maintained to an appropriate standard and that all safety and statutory compllance checks are undertaken on time. to protecl the Welfa of the Trust's tenants, has continued to good effect. Farn)In Com Tha farming company posted su¢cessful yields from the majority of crops and athieved comp8tlUve sales from harvested crops. New habitats were encouraged through the creation of leaky woody dams, which also helped prevent excess soil erosion in a sensitive drinking water catchment. Wildlrfe diversity monitoring continues to demonstrate Ihe success of the business's approach lo commercial farming wilh a conservatlon focus. The fam contlnues to work closely with Anglian Waterto mitigate the effects of pesticides and synthetic fertilisers. Research projects are proposed in these areas for subsequent years. The Construction of commercial units to house a high-tech motorcyde developer working with the emergency services and a second occupier, the Northamptonshire Search & Rescue Team. was completed and the tenants took up occupation. The project improved the diverslty of income to the farming business and increased its rent roll.
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of thg Trustees (Incorporatlng the report of the Dlrectors) for the year ended 31 March 20241¢onllnuod) Famiin Com continued The farm purchased a new sprayer during the year. Equipped with GPS, the machine will improve the efficiency of the farm and the more accurate application of spray and will also improve the efficiency of such operations, it bein9 larger than the outgoing machine. The farm continues to be profrtable. making a valuable financial contrlbution to the work of the wlder Trust at the end of the year. Enter Following the end of Covid lockdown restrictions. the company had a more productive y8ar, enabling it to make a valuable contribution to the work of the Trust both in temis of finances and attracting visitors to Lamport. Events included antM]uès fairs, Arts end craft fairs, a number of classlcal music concerts both indoors and outside, an art festival. a number of tslks and lectures and a Christmas market. The company's holiday cottage performed well, with a good level of 0PanCY throughout the year and only positive r8views from clients. The company took on a lease from the Trust to run a café in the stabl8 yard, which proved popular with visitors and which would be augmented for the following visitor season. Preservation Trust Publlc Benefit and Acllvltles The Preservation Trust's diary of public usage records 139 events taking place over 121 days. This included the opening of Ihe hall and gardens to the public on moro than 60 days during the financial year. The Trust estimates that more than 30,000 people derNed benefit from access to Lamport Hall 8nd its grounds in 2023-24 (18,500 in 2022-231. It is antIpated Ihat visitor levels will continue to increase through proactive marketing and the increasing diversity of events. albeit the Trust will seek to mitigate the effects of wear and tear on the fabric of Lamport Hall and its contents, as appropriate. The Trust continues io donate tickets for a visit to Lamport Hall to local schools and local charities for raffle prizes. It also tries to oblige requests for the loan of paintings for exhibitions where appropriate and during 2024 Ihe Trust loan8d a painting by Joan Carlile lo the Tate as part of its 8xhibilion'. Now You See Us: Women Artists in Britain. The events in the gardens continue to attract a good cross section of the general public. Included in the 2023 12024 wogramme were lectures, art Gourses, theatre perfomiances, outdoor jazz. outdoor dining and classical music concerts. The Northampton Open Studios art exhibition, which is its anticipate will corne to include Rutland in 2024, a county-wide exhibition running throughout September, returnèd to Lamport for the second time and was visited by an èstimated 3,500 people. Four bursaries to exhibiting arlists W8r8 funded by tha Trust following a competitive process. which provided funding for those artists to develop their craft and make wider contributions to the arts within the county.
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of tho Trustees (incorporatlng tho report of the Dlre¢tors) for the year ended 31 March 2024 (contlnued) Preservatlon Trust contlnued The link with the Royal & Demgate Theatre in Northarnpton, supporting its youth theatre programme and also a scheme designed to give disadvantaged children an opportunlty to go to a theatre production, has continued and opportunities to seek match fijnding io increase such funding continues to be explored. A new initiative.. Outdoor Explorers, which aims to provid8 young children and parents wilh early-stage experience of education and the outdoors. is to be trialled during 2024, broadening the demographlc of visitor. Educatlon The Trust maintained collaborative relationships wilh th8 University of Lincoln, Universrty College London and Moulton College. Students were offered the opportunity to reside on sltè and undertake appropriate r8search as part of their studies. A field trip involving 30 students from University College London took plac8 in November 2023. Students spent a week at Lamport Hall to undertake specific research relevant to their postgraduate studies in Sustainable Heritage. The tractor-drawn personnel trailer purchased through the Countryside Stewardship Scheme three years previously enabled students to be transported around the wider property for the purposes oftheir 8ducation. This has most r8c6ntly included children taking part in Outdoor Explorers and Holiday Explorers.. these initiatives s8ek to provide younger children wilh expèrience ofthe outdoors and nature. Lectures and talks were held in the Hall on topics pertinent to the work of the Trust and such event5 were wl1-attended during the year. A new Collaboration was established with the Royal Birmingham Conservatoire. with the Trust sponsoring the studies of a student of music performance. The student undertook a performanc8 at Lamport Hall to great acclaim. Volunteers The Trustees remaln very grateful to the team of volunteers for their input and asslstance In helping the Charity maintain the important activity of opening the Hail and gardens to the public. The pool of volunteers conlinues to grow in diversty, with four new volunteers being recruited during the year. including two in the gardens.
LAMPORT HALL PRESERVATION TRUST LIMrfED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of tho Trustses {Incorporating the report of tho Dlrectors) for the year ended 31 March 2024 (contlnued) Investments The Investrnent Policy was established in November 2002 and is now reviewed by Iha Trustees, Audit and Investment Committee on an annual basis. It has two functions, fitstly, to develop capltal growth and, secondly, to provlde a balanced portfolio. Presently, incorne from the invesknents is reinvested. bul as and when nessary, could be used lo fund the objectives of the Charity. Investment Managers are engaged by the Trusl to manage the portfolio. The Invèstment Managers ara asked to produce a portfolio which is liquid enough so that. rf nec8ssary. investments can be sold to fund. for example. an emergency repair 8ndlor any property development opportunity that may arise. Furthemore, the spread of investments within the portfolio is structured with a view to maximising the Trust's ability to select investments for sale in due Gourse, which will realise a 9ain on sale and not a loss. All of the Investment Managers are fully conversant with charities and Iheir investments. The Trust has have given much thought to the monitoring ofthese investments. As a result the Investment Managers prepare statements Iwice a year showing the movement in capital valu8 and the income received from assets under managem8nt. The viability of these investments is clos81y monitored and the Trustees are conscious of the need for an increased endowment to supplement the funds generated from the day-to-day operating activities of the Trust. The Trust recognises that the dtfficult conditions in the rural economy and the uncertainty surrounding fami subsidies post-Brexit may mean that, in the future, the income from the investments will be increasingly important. On the Endowment Estate the Trust continues to explore development po18ntial and diversifi¢alion opportunities where appropriate lo help augmenl this fund. Beteen 1 April 2023 and 31 March 2024 the listed inveslment portfollo value increas8d by approximately £1,135,99912022-23 decreased by £722,479). The improved level of performance was due to a gradual fall in inflation across developed counlries. which had a subsequent impact on interest rates, giving confidence to markets. The Trust's consclous declslon to invest in US Technology markets had a positive impact on perfomiance. Flnanclal Revlew Th8 nel movem8nt in funds for the year to 31 March 2024 was an increasè of £769,726 (2022-23 decr8as8 of £193.576). Total incoming resour$ for the year w8r6 £1,727,942 compared to the previous yearfs total incoming resources of £2,002,469. Totsl resources oxpended this year are £1,965.334. Reserves Pollcy It is the policy of the Trust to hold reserves in tts non-charilabl8 trading entities, the PreservatM)n Trust and Endowment Estate. which have not yet been committed or designated for any particular purpose. The Trust has set aside these reserves in order to protect the futur8 operat)nS of th8 Charity from the effects of any unforesèen variations in its income streams as part of a policy of good financial management practlce. The nature of the assets of the Trust are such thal high18V8ls of expenditure can be incurred in both the short and long temi, which necessitates the Trust having access to liquid fund5. At 31 March 2024 the amount offunds in the trading subsidiaries amounted to £165,795 (2022-23: £345,363), £2,956,491
{2022-23- £3.412,716) in the Preservation Trust and £30.073,492 (2022-23.. £28,667,973> in the Endowment Estate. LAMPORT HALL PRESERVATION TRUST LIMITED AND rrs SUBSIDIARY UNDERTAKINGS Annual report of tho Trustees (Incorporaling the report of the Directors) for the year ended 31 March 2024 {contlnued) Reseryes Pollcy Icontlnued} The Trust is aware that the level of free reseNes may not be sufficient. Accordingly It is conscious of the need to raise fvrther income from Ihe Endowment Estate which can then be used to supplement fvrther charitable expenditure. This has been implemented by investing in several portfolios, generating growih and income. It is the Trust's, intention to increase this over the course of the coming years. The financial position of th8 Trust remains stable, allhough th8 Trustees have identif18d th8 need for increased income in the medium temi. The trading aclivities of the two subsidiary companies continued to provide incoming resources to the Trust. Lamport Farms Limited donated its laxabla profits of £94.714 (2022-23: £205,763) and Lamport Enterprises Llmlted donated ils taxable proffts of £46,267 (2022-23.. £15,363) by way of gift aid to the parent charity, the Preservation Trust. It is noted that the gift aid donalions are made in the accounting year following the year in which the profits are generated. statoment of tho prlnclpal flnanclal management polleles adopted in tho year The Trustees contlnue to malntaln a close financlal control over the performance of the various income strategies. The Trustees are aware that the 8ssets of the Preservation Trust do not currentty have the ability to produce enough income to cover all annual and cyclical costs, and so non-revenue generaling land 8ssets need to be turned into revenue eaming assets when opportunities arise. The Trust's policy is to a¢hieve-. capital growth and some income from the investments managed by the Investment Managers; a sustainable Income stream through the activities of the trading companies; and continue to increase revenue from the Estate. The Audit and Investment Committee meets annually lo review all financial and Investment matters. The principal sources of fvnding for the Charity this year continued to be the income derived from the trading activilies of the Farm and the rental income from the properties on the Estate. The investment income from the Endowment Eslale was reinvesled. The Trustees confimi that they have given due consideration to the requlrements of the Charlties Act 2011 and public benefit guidance published by the Charity Commission. The charity does not cary out Significant fundraising activities. 10
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of the Trustees (Incorporallng the report of the Dlrectors) for the year •ndod 31 March 2024 (contlnued) Plans for future perfods The Preservation Trust continues to work towards th8 objectives sel out for it by Sir Gyl8s Isham. In particular the Trustees wish to see the Hall and outbuildings and gardens fully maintained so that they Can be fully opened to the public, the let properties continuing to be well-maintsined and brought up to date where needed, and the farm tenancies retaining their viabilty. Tha Trust continues to explore opportunities to maximise the potential of the Estste. The Hall will continue to be open to the public as in Ihe past and the Trustees will continue to en¢ourage increased highua1fy access to the Hall and gardens by hosting additional educational activit186. The Trust sees this as key io its success in gaining maximum public benefit in the futur8. The Truste8s and staff will continue to work to ensure that these objectives can b8 achieved. The Trust wlll continua a programme of restoring 8nd maintaining the Hall's contents as well as the fabrlc of the bullt assets of the Trust. The Trust wishes to conlinue to increase the quality of the vlsltor experien by offerlng a wide range of educational aclivitl8s in addition to th8 traditional hoLJse visit. Individual lecturers and tutors continue to be sought to organise independent courses in a variety of subjects, as demonstrated by the support given lo third parties operating the masterclasses held in the Old Laundry. The Trust is k8en to see increased use of the Hall's archives by research students and to increase links with adult educational instttutions. A progressive approach to developing a programme of soclal prescribing will enhance the experien of visitors from a wider diversity of backgrounds and life eXpaences. The Trustees expect to complete the restoration and repair of the outbuildings still in need of repair during th8 n8xI phase of their guardianship. In particular the buildings at Isham Bams may be converted to residential use as might the fami buildings at Old Road, in order to generate additional income to the Charity. Work will continu8 on refurbishing the cottagg Stock as it becomas vacant. STATEMENT OF TRUSTEES RESPONSIBILITIES Law applicable to charf(ies in England and Wales requires the directorsftrustees to prepare accounts for each finanGial year. which give a true and fair view of the state of the charitable company and group's affairs and of its income and expenditure for the financial year. In preparing these accounts the dlrectorsl trust8es are required to: select suitable accounting polscies and then apply them consistentty; observe the methods and principles in the Charities SORP., make judgements and estimates thal are reasonable and prudènt- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts: prepare the accounls on a going conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The directorsAruste8s are responsible for keeping prop8r accounting records which disclose. with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the accounts compty wrth the Companies Act 2006. They are also rasponsible for safeguarding the assets of the company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. 11
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Annual report of the Trustees (Incorporating tho r8port of tho Dlrectors) for the year ended 31 March 2024 (contlnued> STATEMENT OF TRUSTEES RESPONSIBILITIES {continuod) The maintenance and integrity of the charity's website is the responsibility of the trustees. Lagislalion in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislatlons In otherjurlsdictlons. In so far as the Dlrectorsrrrustees are aware,. There is no relevant infomiation of whiGh the group's auditor is not aware and The Directorsrrrustees have taken all steps that they ought to have taken to makè themselves aware of any relevant audit information and to establish that the audltor Is aware of that information. AUDITOR Cooper Parry Group Limited has expressed tts willingness to conb'nue in office as auditor and will be proposed for reappointrnent in ardance wlth section 485 of the Companies Act 2006. By order of the Board Date.. 13 December 2024 12
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Independent Audltor's Report to the members of Lamport Hall PreseNatlon Trusl Llmtted We have audited the financial statements of Lamport Hall Preservation Trust 1.the Parent Charitable Company.) and its subsidiaries Ilhe Group") for the year ended 31 March 2024 which comprise the group statement of financial activities, the consolidated and company balance sheet, the consolidated slatement of cash flows and notes to the financial statements, including a summary of significant accounting polici8s. The financial reportin9 framework that has been applled in Iheir preparation is applicable law and United Kingdom Accountlng Standards, including Financial Reporting Stsndard 102 The Financial Reporting Standany appliGable in the UK and Republic of Ireland {United Klngdom Generally Accepted Accounting Pr8¢tlce). In our opinion the financial ststements.. give a true and fair view of the state of the Group's and of the Parent Charitabla Company'6 affairs as at 31 March 2024 and ofthe Group's incoming resources and application of resources for the year then ended., have been properly prepared in accordance wth United Kingdom Gen8rally A¢cepted Accounting Pracli¢e" and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charilias Act 2011. Basis for opinion We conducted our audit in accordance With Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the Parent Charitable Company in accordance wilh the athical requirements relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fUilled our othèr ethical responsibilities in accordance with these requirements. We beliave that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have conduded that the tnjstees. use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertalntles relating to events or conditions that, Individualty or collectively, may cast significant doubl on the Group or Parent Charitable Companys ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorfsed for issue. Our responsibilities and the responsibilities of the Irust8es wilh respecl to going concern are described in the relevant sections of this report. 13
LAMPORT HALL PRESERVATION TRUST LIMITED ANO ITS SUBSIDIARY UNDERTAK114G8 Independent Auditor's Report to the members of Lamport Hall Preservation Trust Llmlted {contlnued other Infomation The other infomation comprises the information included in the Trvstees, Annual Report and Financial Statements. other than the financial statements and our auditor's r6POrt Ihereon. Th8 other infomialion comprises the Annual Report of the Trustees. The Trustees are responsible for the other information. Our opinion on the finan¢ial statements does not cover the other information and, except to the extent othervdise explicidy stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infornation and, in doing so, consider whether the other infomiation is materially in¢onsislent with the financial statements or our knowledge obtained in the audil or otherwise appears lo b8 materially rnisslated. If we identify such material inconsistencies OT apparent material misstat8ments. we are required to delemin8 whether there is a material misstatement in the financial slatemènts or a material misstatement of the other infom1atn. If, based on the work we hav8 P8rfomed, we conclude that there is a material misstatemént of this other infomiation. we are required to report that facL We have nothing to report in this regard. Opinion on other matters prnscribèd by the Cornpanigs Act 2006 In our opinion. based on the work und8rtaken In the course of the audit: the information given in the Trustees, Report, which Includes the Dire¢tor8' Report prepared for the purposes of Company Law, for the financial year for which the financlal statements are prepared is ¢onsi$tent with the finanGial statements- and the Directors, Report, which is included in the Trustees, Report. has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlrèd to report by exception In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of th8 audit, w8 have not identified material misststement in the Strategic report or the Trust88's report. We hav8 nothing to report In respect of the following m8ttèrs in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you rf, in our opinion., proper and adequale accountlng records have not been kepi by the Parent Charitable Company, or returns adequate for our audit have not been receiv8d from branches not visit8d by us: or the Parent Charitable Company financlal statements are nol In agreement with the accounting records and returns,. or certain disclosures of Trusl8es' remuneratlon speclfled by law a not made,. or we have not received all the information and explanations we require for our audit. or the Trustees were not entided to prepare the financial statements in accordance wth the small compani8s regime and tak6 advantage of the small companies, exemptions in preparing the Directors, report and from the requiremant to prèpare a strategic report. 14
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Independent Auditor's Report to the members of Lamport Hall Presorvalion Trust Llmlled (continued) Responslbllfties ol trustees As explained more fully in the Statement of Trust88s' r8sponsibiliti8S, the Trustees Iwho are also the directors of the charitable company for the purposes of company law) are responsibl8 for Ihe preparation of the financial statements and for being satisfied that they giv8 a true and fair view, and for such intemal control as the Trustees determines is necessary to enable the praparation of financial stalements that are fr88 from mat8rial misstat8m&nt, whether due to fraud or error. In pr8paring the financial stst8m8nts, th8 TnJst8es are responsible for assessing the Group's and the Parenl Charitable Company's ability to continue as a going concem, disclosing, as applicable, matters related to going conrn and using the going concem basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic altemative but to do so. Audltor'8 re$ponslbllltle$ for the audlt of the flnanclal statements We have been appointed as auditor under sedion 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having 8ffect Ihereunder. Our objsctives are lo obtain reasonable assurance about wheih8r tha financial slatements as a whole are free from material misststement, whethér due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The exient to which our procedures are capable of detectlng irr8gulariti8s, including fraud is d8tail8d below: Our assessment focussed on key laws and regulations the Parent Charitable Company hAS to comply with and areas of the financial ststements we assessed as being more susceptible to misstatement. These key laws and regulations included but were nol limited to compliance with the Companies Act 2006, Charilies Act 2011. Charities (Protection and Social Investment) Act 2016, taxation legislation, data protection, anti-bribery and employment legislation. We are not responslbl8 for preventing irr8gularltles. Our approach to detecting irregularit18s included, trrt was not limited to, the following." obtaining an understsnding of the legal and regulatory framework applicable to the P8rent Charitable Company and how the Parent Charitable Company is complying with that framework, Including agreement of financial statement disclosures to underlying documentation and olher evidence; obtaining an understanding of the Parent Charitable Company control environment and how the Parent Charitable Company has applied relevant control procedures, through discussions with Trustees and other management and by performlng walkthrough lesling over key areas; obtaining an understanding of the Parent Charitable Company's risk assessm8nl process, including the risk of fraud.. reviewing meeting minutes of those tharged with governance throughout tha year., 15
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS 8UB81DIARY UNDERTAKINGS Independent Auditorfs Report to the Members of Lamport Hall PreseNatlon Trust Llmlted (contlnued) perfomiing audit testing to address the risk of management override of ¢ontrols, inctuding testing joumal entries and other adjustments for appropriateness. evaluating the busines5 rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias., and oblaining sufficienl appropriate audit evidence regarding the financial information of the entilies or business activities within the group to express an opinion on the consolidated financial statements. W8 are rèsponsible for the direction, supervision and perfomiance of the group audlt. We remaln solely responsible for our audit opinion. Whilst considering how our audlt work addressed thè detection of IegUlaritieS, we also considered the likelih¢)od of detection based on our approach. Irregularities arising from fraud are inherently more difficult lo detect than those arising from error. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregulartb8S, including thosè adIng to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compllance with a law or regulation Is removad from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of nonThcompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves Sntenlional ooncealment, forgery, collusion, omission or misrepresentatlon. A further description of our responsibilities for the audit of the financial statements is located 8t the Financial Reporting Council's {"FRC's") webslte at htt .'IAwi.frc.or .ukJaudltorsre$ nsibilities. Thls description forms part of our auditorfs report. Use of the roport This r8POrt is made solely to the Charitable Company's members, as a body, in accordanc8 wilh Chaptèr 3 of Part 16 of the Companies Act 2006, and to the Charitable Company's trustees. as a body, in accordance with the Charities Act 2011. Our audit worf( has been undertaken so that we might state to the Charitable Company's mèrnbers and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest exlent permitted by law, we do not accept or assume responsibllity to anyone other than the Charitabl@ Company, the Charitable Company's members as a body and the Charitable Company's trustees as a body. for our audit work. for this report, or for the opinions we have fomied. Glen Bott FCA (Senior Statutory Auditor) For and on behalf of Cooper Parry Group Limited Statutory Auditor Cubo Blmilngham, Two Chamberlain Square, Bimiingh8m, B3 3AX Date'.20 December 2024 16
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LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Consolldal¢d balan sh••t at 31 Mareh 2024 Restaled 2023 Notes 2024 FIX assets TarrfJible assets Investments 10,284.620 22.450,062 10.268,759 21.314,063 32.734.682 31.582.822 Current a$$ets Stocks Debtors Cash at bank and In hand 414.078 237.159 201.103 415,163 371,219 649,938 10 852,340 1.436,318 Credftors: amounts falllng duo within one year 11 {306.975) 1482,242) Net ¢urrent a$s¢l$ 545.365 954,076 Credltors: amounts falllng due after one year 12 {65.5281 (92,105) Total a6s•ts less curr•nt Ilabllltl•s 33,214,519 32.444,793 Capital fund$ Endowmenl Estate furKI 13 30,073,492 28.667.973 In¢om• funds Rastrted fund - Pre$ervalion Trust ReStrted fund - Lamport Churth Unrestrided funds 13 13 13 2,956.491 18,741 185,795 3.412,718 18,741 345,363 33,214,519 32.444,793 These flnanclal stslements were approved by th8 Goveming Body and authorfsed for issue on: RLVlsham Chalrman Dale=13 December 2024 J T G Harris Trustee Dale=13 December 2024 Company R•glslratlon Numb•r. 1174289 Reglstered Charlty Number. 267999 The notes on pages 22 to 38 f(m) part of these financial stalements. 21
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Ch•ritsbl• company balance sheet at 31 March 2024 Rulatod 2023 Notes 2024 Flxed assets Tangible asset8 Investments 7,984.704 35,989,228 8,001,789 34,853,229 43,973,932 42.855,018 Current ass•ts stocks D8btors Cash at bank and in hand 4.219 806.200 170,053 10 704,749 543,378 980.472 1,248,127 Credllors: amounts falllng due wlthln yèar 11 {83,5601 (175,097) Net current assets 896,912 1.073.030 Crodltors: amounts falllng du• withln one year 12 {42,5891 {49.oon 44,828,255 43.879,041 Capltal funds Endowment Eslato fund 13 41,185,744 39,780.226 Income funds Restricted fund- Pre$ervalicm Trust Restricted fund- Lamport Church Unreslriciad funds 13 13 13 3.623,770 18,741 4.080.074 18,741 44,828,255 43,879.041 Th88e financial statements were approved by the Govemlng Body and authorised for issue on: RLVlsham Chaim)an Dale:13 December 2024 JTGHarr Trustee Dale:13 December 2024 Company Registration Numb•r. 1174289 Reglstoved Charlty Number: 267999 Thg not8$ on pages 22 to 38 fomi part of these financial statem8nts 22
LAMPORT HALL PRESERVATION TRUST LIMThED AND Ths SUBsIDRy UNDERTAKINGS Consolldated ststement of cash flows for the year ended 31 March 2024 Notes 2024 2023 Cash flows from operatlng actmtles 20 (708,8081 198.785) Cash Ilows from Investlng actlvEtI•$ 21 280,613 293.575 Cash flow8 from flnancSng actlvllles New borrowlngs In year Repayment of borrowings 114.726 11,0701 (20,6381 Tolal Cash flows from flnanclng actlvltles 20,638 113,65 (Decrease}Ilncrease In cash In Ihe year {448,833) 308.446 Total cash at the beginning of the yoar 649,936 341,490 Tolal ¢ash al th• end of the y•ar
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Noto¥ to tho financial statements for the year ended 31 March 2024 General inforynation Lamport Hall Pservation Trust is a charitablg company, limited by guarantee. Incorporated in England and Wales and domiciled in England. The registered offirE is Lamport Hall, Northampton, NN6 9HD and the reglstered number Is 01174289. 1. Accountlng pollcles The principal accounting policies adcpted, Judgements and key sources of estimation uncertalnty In the preparation of the financial ststemenls are as follows: a) Basls of pweparation The financial statements have been prepared in accordance with the Statement of Re¢ommended Practice.. A¢¢ounting and Reporting by Charitie5 preparing theiT accounts in accordance with the Financial Reporting Standard applb]e in the UK and Republ of Ireland IFRS 102) (effective 1 January 20191. the Charities Act 2011 and the Companles Act 2006. The charitable company meets the deflnf(lon of a publlc benefit enuty as defined by FRS 102. Assets and liabilitles are Inltlally recognlsed at hlslorical cost or transaclon value unless otherwise stated In the relevant accounting policy notels). The Trustees believe that the Charitable Group is well placed financially due to Its Strong cash position and Significant net assets. amounting to £33.2m at the year end. along with the financial forecasts that have been prepared. The financial ststements have been prepared on a going concern basis as the trust6es consider that adequate reseTves and ¢ash balan$ are availablg to Gontinue lo fund the activities of the charity and the group for the foreseeable fulure, Ing at least 12 month5 from the date of approval. bl Basis of consolidatlon The group financial sta18menls consolidate those of the charity and its wholly owned subsidiary undertakings drawn up to 31 March 2024. The results of th8 charity's nofvGharilable Iradlng subsidiaries, Lamport Enterprises Limited and Lamport Famis Limited, have been incorporated on a line by Ilne basis. A separate Statement of Financial Aclivrti&s and Income and Expenditure A¢¢ount for the charlty has not been presented because the Charity has taken advantage of the exemption afforded by section 408 of the compan Act 2006. c) The charlty The charity comprises the PreseNation Trust Fund and the Endowmenl Estste Fund, whi¢h are registered under one charity number with the Endowment Estste FurKI being a subsidiary of th8 PreseNalion Trust Fund. dl Incomlng resources Income is recognlsed when the chartty has entitlemenl lo ihe fijnds, any performonce conditions atta¢hed to the item of income have been meL It is probable that the income will be received and the amount can measured w11ab. Voluntary income is recogniged on a receivable basis Grants are roco3nised on a receivable basls iii) Other Income of the tharty is recognised on an accruals basis ) Income from the Commercial aclivrties undertaken by the charity's subsidiaries Is recognised on an accruals bas1$ v) Investment income is included in the Ststement of Financk81 Activities in the year In which rt is receivable 24
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKING8 Notes to th• financial stat•m•nts for the year onded 31 March 2024 e) R8souru$ •xp•nd•d Resourcgs expended ar8 included in the Statemonl of Financial Activili8s r)n an accruals basls, Inclusive (where appIlble) of any VAT which cannot be recovered. Cost of generating fund5 are those costs incuTred in fundraising, the commer¢ial trading costs and investment man8sement costs. Charitabfe activity sts 8re incurred in supporting the objectives of the chaiity. Governance costs include costs primarily aSsoated with the constitutional and statutory requirements of the charity. Support costs Include central functions and have been allocated to activlty cost cat¢gories on an actiwty basis. Certain expenditure Is direcuy 8ttribuiable lo specific actNilies and has been included In thosa cost Categories. Other costs attributable to more than one activity are apportioned across cost c8tegtriGs on the basis of the proportion of tima spent by stafi on those aclivilies. Fund accountlng Funds held by the charity are either.. Restrided funds - these are fvnds that can only be used for the particular restricted purposes within Ihg objects of the charity. Both Endowment Funds are designated as reslricled. Unrestrthd funds - Ihg$9 ar8 ncoming rgsources rgceNgd or generated for exp9ndilure on the general ci)jective5 of the charity. gl Flx•d ass•ts and d•pr•ci•tion Fumlturo, flxtures and exhlblts Furniture, fixtures and exhlbits are nol (lepreciatsd as, In the oplnlon of the members of the Governlng Boily. they are maintained to a slandard whlch will ensure thelr conllnued exlslence al a value at least equ8110 the value included in the financial statements. Dopro¢iation Depre¢iation on other fixed assets is calculated to wile down the cost of )Ixed assets over their excted usefvl lives. The rates generally applicable are., Farm plant, implements and equipment Estate plant, fLXtures and fittings Farm improvements and drainage Improvements to buildings and cottages Motor vehicles 15%-25% reducing balare 150/9 reducing balance 10Q/o slraighl line 20h . 25% straight line 25% reducing balance Froehold land. buildings and exhibits The transitional provisions of Financial Reporting Standard 102 have been adopted in respect of the carrying value of freehold land, buildings and exhibits. These assets were last revalued in 1997 and this valuation has been adopted as surrogate cost. No valuations have been perfomied since 1997 and no revaluations are to be made in the foreseeable future unless required under FinanGI81 Reporung Slandard 102. Freehold bulldings with an estimated useful lrfe of frfty years or less are depreciated on a stralghl Ilne basis, calculated on valuation, over the future 8stimated life. Al 31 March 2024, the Trustees were of the opinion that every freehdd bullding has a us8ful lrfe greauy In excess of fifty years. No d&preciation has therefore been provided as It is consldered that the amounl involved would not be material lo the statement offinancial activities. Freehold buildings and exhlblts are revlewed annuallyfor Impairment in accoTdancewlth Flnanclal Reporting Standard 102, with any consequgnt r8duction in carrylng values recognised in the stslement of financial activthes. 25
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS NoteB to tho financlal stalgments for th• year ended 31 March 2024 g) Fixed ass•ts and depreclation . ¢ontlnu•d However any improvements made to buildings and collages sinc£ 1997 have been capitalised and il is the intention of the trustees to depreciate these over their estimated useful lrfe. h) Investrn•nt$ Investments are a fom) of basic financial instrument. are Initially Tecognised al thelr transactlon value and subseqventy measured at their fair value as al the balanca sheet dale using th6 closing market value. Gains and losses 8rlslng on dlsF)sals and revaluation throughout the year are included in the statement of flnanclal activllles. I galns and losses are taken lo the Ststemeni of Financial ActNities as they arise. Realised gains and knsses on investments are calculated as the dKferenc be8&n sales proGeeds and Iheir opening carrying value or their purchase value if acquired $ubsequenl to the first day of the financial year. Unrealised gains and losses are calculated as Ihe difference baeen the falr value at the year eThJ and their carying value. Realised ond unrealised Inve8tsm8nl galns and losse5 8re comth'ned In the Ststement of Flnanclal Activltie$. i) Stocks stocks which comprfse growlng crops and cullivations, together with souvenlr shop sto¢k. are stated at Ihe lower of cost and net realisable value. l) T•xatlon No provislon has been made for corporatlon tax, as th8 company 1$ of charitable status. No provision for COTporation is necessary in the subsldlary undertakings as, such sums as shall equal the whole of its taxable incne as ¢omputed for the purposes of the Corporation Tax Act 2010 are grft aided to th8 parenl company, L8mport Hall Prgservatlon Trust Limited. k) Contrlbution$ to n$10Th funds Deflned cOntriblon Scheme The pension costs charged in the year represent Ihe amount of the contrlbutlons payable to the scheme In resp8cI of the accounting period. The assets of the scheme are held separately from those of the charity. l) Operatlng leases Rentals applicable to operating leases where substantialty all of the benefits and risks of ownership remain with the les80r are charged against profits on a straight line basis ovor the period of the lease. 26
LAMPORT HALL PRESERVATION TRUST UMITED AND ITS SUBSIDIARY UNDERTAKINGS NotOS to th• financial Statements for the year ended 31 March 2024 2. Incoming resources Restrlcted Restricted Restricted Lamport Endowmont Pres•rvatlon Church Estate Trust Total 2024 Total 2023 Unr08trfct Donation$ and lo aGies Voluntary income 498 3.642 4,140 339,526 498 3,642 4,140 339,526 Income from ¢harltabl• actlvlties Shop sales and Cateng 15,124 15,124 16.893 15,124 15,124 16.693 Olher tradln actlvllles Commercial trading income Event Income and room hlre House S)wing and Goncert admissions 734.364 154,585 734.364 170,752 807.793 92,318 16,167 19.322 19.322 15.590 888.949 35.489 924.438 915.701 Other Income Sundry Income Profit on Sale of tsnglble flxed asset Deferred tax movement 6,025 57.389 63.414 41,OB9 2,350 46,156 2,350 45,596 46.156 54531 57,389 111.920 86,685 Incomo frtsm Inv•$tm•nts Rent81 income Listed Investment income Bank deposits 59,217 395.877 82,218 92,117 33,380 488,474 82,218 101,628 513.878 122.038 7,948 7,353 2,158 66,570 570.212 35,538 672.320 643,864 1.025.672 570.212 132,058 1,727,942 2,002,469 27
LAMPORT HALL PRESERVATION TRUST UMrrED AND ITS SUBSIDIARY UNDERTAKINGS Nol•s to th• financial $tat•m•nt$ for thè yoar èndod 31 March 2024 3. RQr¢•$ •xp•ndod 3.1 Expendlture on rai$lng funds Restrlcted Restrfcled Ro$lrid•d Lamport Endowment Preservation Unreslrlcted Church Estate Trust Total 2024 Total 2023 Famiing expenditure Enterprises eXndr(Ure Preservation expenditure staff costs Share of support ¢osts Investment management costs 315,706 149,937 315,706 166,306 149,937 74,908 16,842 6,686 46,619 64,577 551,304 799,723 19.247 33.837 16.842 46,619 344,666 206.638 19,247 856.928 225,885 16,842 1.099.655 1.146,037 3.2 Expendlturo on charltablo actlvltlos RgstriGtod Restslcted End¢)wment Presgrvatlon Estate Trust Total 2024 Total 2023 Unre$lri¢ted Share of 8UPPOrt costs 18,140 847,539 865,679 748.226 18,140 847,539 865,679 748.226 3.3 Analy515 of support Gosts Restricted Restrlcted Endowmenl Pr•servatlon Estate Trust Total 2024 Total 2023 Unr¢$trlded Establishment Equipment and repairs Communications Staff costs Manag8mgnt and finance Gov8mance costs 121,860 194,119 7,895 1,242 112,386 126,540 175,354 27.749 422,8 79,731 15,275 249,642 187.674 481,859 774,873 35,644 18,337 422,890 309,527 188.203 238.038 38,745 19,500 23,087 15.845 85.385 7,625 362.806 206.638 847,539 1,416,983 1,547,979 Spllt by activlty: Restri¢t•d R8strid•d Endowment Pre$•rvatlon Total Estatè Trust 2024 Total 2023 Unr•stri¢ted Cost of genaraling fvnds Charitable a¢tivities 344,666 18.140 206,638 551,304 799.723 865,679 748,226 847,539 362.806 206.638 847,539 1,416,983 1.547.979 28
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Not&s to tho financial statsmgnts for the yoar 8nd8d 31 March 2024 3.4 Gov?rnanc• costs Rgstricted Restrtcted Endowmonl Preservatlon Estate Trnst Total 2024 Total 2023 Unrestrf¢ted Audltor's remuneration 15.845 7,625 15,275 38,745 19.500 15.845 7.625 15,275 38,745 19.500 4. Net movement In funds is $tatsd aft•r". 2024 2023 Depre¢iation AudRorfs remuneratlon 311,734 89,358 38,745 19,500 29
LAMPORT HALL PRESERVATION TRUST UMITED AND ITS SUBSIDIARY UNDERTAKINGS Notss to the flnanclal slatsments for the year ended 31 March 2024 Net Income from non4harltabl• tradlng actlvltles of 6ubsldlarfe$ A summary of the results of the tradlng subsldlaries Is set oul below. Lamport Farm$ Limited Lamport Enterprlses Limited RoBtat8d Total 2023 Total 2024 Tumover Cost of sales 780.761 {315.7061 190,694 971,455 (163,437) (479.1431 985.395 (241,2151 Gross profit 465.055 27.257 492.312 744,180 Administration costs other op8rating income Interest rec8ivab Intewt payable and similar charges 1500,949) 498 3,712 {6,301 } 158.925) (559,874} 210 708 3.641 7,353 16,301} {852,0011 385,031 2,716 {4,0001 Nel (lossyprofit 137,985) 127,8171 165,802) 275.928 Gift ald payment to Lamport Hall Preservation Trust Limited 194,7141 {46.2671 1140.9811 {221,1261 Tax on {108sllprofft for tha year 46,156 46.156 {46.5561 Retained in subsKliary {86,5431 (74,0841 {160,6271 8,244 The net assets and liabilities of the subsidiaries were.. Fixed assets Current assets Current liabilities Long term liabiltties 556,706 640,365 1961.822} 122,939) 2,396 559,102 86,054 726,319 1134,966} (1,096.7881 (22.9391 527.304 782.151 1893,380} {89.654) Total assets less liabilities 212.310 (46,516 165,794 326,421 Agggate share capital and reserves 212,310 146.516) 165,794 326,421 The prior y88r figures have been restated to accrue an additional £18,941 of management charg85 in Lamport Enterprises Limf(ed. These management charges related to the year ended 31 March 2023 and had r1 been accrued previ81Y. The prior year adjustrnent resulted in a reduction in the retained eamlngs at 31 March 2023 of £18.941. 30
LAMPORT HALL PRESERVATION TRUST LIMrrED AND rrs SUBSIDIARY UNDERTAKINGS Notes to th• financial stat•m8nts for the year •ndod 31 klarch 2024 Staff costs staff costs during the y8ar were as follows: 2024 2023 Wages and salarles Social securlty costs Penslon ¢o$ts 419.369 36.391 13.750 328,103 27,887 18,114 469.509 374,104 The average monthly head count was 17 staff12023.' 17 staffj and the averag& monthly number of employees of the charily during tho year as calculated on a fvll-time equlvalent basis, was: 2024 Number 12 2023 Numbor 12 Preservation and showing activity Administratlon 17 17 One employee received remuneration (excluding employer pension contributions) in excess of £60.000 {£80.000 - £90.0001, (2023.. on8 in exG85s of £60,000 {£70,000- £80,000)). The group pald £8,500 12023.. £7.0001 under a defined contribution penslon scheme for the above employee. Th8 group paS(1 £2,48612023: £8941 for Trustee Indemnlty Insurance during the y&ar. The charity trusle8s were not paid nor received any other benefits from employment with Ihe Trust or its subsidiaries in the year12023.' £nill neither were they reimbursed expenses during the ye8r12023'. £nil). No tharity trustee r8ceived payment for prOfeSsnal or other services supplied to the charfty (2023: £nil}. The key management personnel of the group are considered to b8 the Executive Director and the F8m Manager. The employee benefits of the key management personnel includlng employer naIal insurance and employer pension Gontributs'ons amounted to £154,45012023- £127,091). 31
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Not8s to th• linancial stat•m•nts for the year •nd•d 31 March 2024 7. Tangible fixod assets Froehold land, bulldlngs and exhlblts The group F8rn1 Impn>v•m•nts and woodlands lrnploments and Motor èqulpment vehi¢l Total Cost or valuatlon At 1 Aprll 2023 Addillons Disposals 11,297,126 134,153 501.933 163.045 {15.0001 1,039,308 32,600 122.515 12,960,882 329,798 (15,000} Al 31 March 2024 11,431,279 649,978 1,071.908 122,515 13,275,680 D•prn¢iation At 1 April 2023 Charg8d in the yoar Rel82sad on disposal 1,677.454 129,556 203,989 101,981 (12,797) 764.187 61.156 46,493 2,692.123 19,041 311.734 112.7971 At 31 March 2024 1,807,010 293,173 825,343 65,534 2,991,060 Net book valuo At 31 March 2024 9,624,269 356,805 246,565 56,981 10.284,620 At 31 Mdrch 2023 9,619,672 297,944 275,121 76,022 10.268,759 The figures stated above for cost or valuatK)n Includ8s a valualon as follows.. Freehold lond, bulldings and gxhibits 2024 2023 Al 1997 valuation 10,246,230 10,246.230 Al cost 1 April 2022 1.050,896 962.997 Additions in the year Disposal al cost in year 134,153 {15,000) 87,899 11,416.279 11,297,126 During 1997 freeknld land, buildings and exhibits were revalued by Mr G P S Drye, M.Sc.. FRICS. The basis of the valuation used was open market value. This valuation was frozen and treated as the hlstorlcal cost value in accordance with the accounting standards at that time. 32
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Notes to tho fJnan¢ial stst•monts for tho year frnd•d 31 M•rch 2024 7. Tanglble flxed assots (continued) Freehold land. bulldlngs and exhlbhs The charlty Implements and equlpment Motor vehlGI95 Total Cost or valuatlon At 1 April 2023 driions Disposals 9,556.310 134,153 100,698 10,367 98,550 9.755,558 1M.520 At 31 March 2024 9,690,463 111,065 98,550 9,900,078 D•preciation At l April 2023 Provided in the year Released on dssposal 1,677,453 129,556 52,619 13,336 23.697 18.713 1,753,769 161,605 At 31 March 2024 1.807.009 65,955 42,410 1,915,374 Nèt bk valu• At 31 March 2024 7,883,454 45,110 56,140 7,984,704 At 31 March 2023 7,878.857 48,079 74,853 8,001.789 No provision ha5 b8¢n mada for deprecialion of land. buildings and èxhibits valued In 1997 a$ explainod in the accounting FKJIicios. Th8 figur8s slated above for cost or valuation includes a valuation as follows= Fr•ohold land, buildings and gxhlblts 2024 2023 At 1997 valuation 7.311.230 7,311,230 At cost 1 April 2023 Additions in the year Disposal at cost in year 2,245.080 134,153 2,157,181 87.899 9,690,483 9,558,310 Durlng 1997 freehold land, bulldlngs and exhlblls were revalued by Mr G P S Drye. M.Sc., FRICS. The basis of the valuatlon used was open market value. Thls valuallon was frozen and tre8ted as the historical cost value In accordance with the accounting standards at that time. The trustee5 consider that the nel book value of all of the group and the charfty's ianglble fixed assets are used for direct Gharilable PUTposes. with the value attributable to othgr purposes not being material.
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Notos lo tho financial stalornants for thg yoar gndod 31 March 2024 8. Flxed asset Investment8 Inv•stmenl Llsted Properties Invostmonts Total The Group Restated Value at 1 April 2023 Addttlons In the year at cost Dlsposal proceeds Realised l unr8allsed galnslllossesl Revaluation Market value at 31 Marth 2024 16.463.356 4.850.707 21,314,063 265.371 265,371 (199,4621 {199,4621 766.797 766,797 303,293 5.683,413 22,450,062 303,293 16.766,649 Shares In Inv•$tmenl $ub$ldlary Properti88 und•rtakln9S Listed Investmonts Total Th& Charfty Restated Value at 1 April 2023 Addrtions in the year at cost Di5P05al proceeds Realised l unrealised gainsl{lossesl Revaluation Market value at 31 MarL* 2024 7 30,002.515 4,850.707 34,853,229 265,371 265,371 1199,462) 1199,4621 766,797 766,797 303,293 5,683.413 35.989,228 303 293 7 30,305 808 Listed investments havg bggn r8slaled (decr8as8 of £94,279) to agree to the brought forward valuation on the Investment reports, with a corresponding increase to total losses on investment assets. Shares in subsidiary undertaklngs are staled at cost. Investment propertie5 and listed investments are stated at market Value al 31 March 2024. Shares In subsldlary undertaklngs At 31 March 2024. the ch8rity held the entire ordinary share capilal of the foll¢)wing ctsmpani8S: Subsldlary undortaklng Country of Incorporatlon Nature of buslnoss Lamport Famis Limited Lamport Enterprises Limited England arnl Wales England and Wales Farmlng Commerclal activities of the Hall Investments in group undertakirvJ$ have bgen included at cost as the Iru$lees consider that rt would nol be practical to cary cwt a valuation of th&se undertakings. In addition, any valuation attbuted lo these investments would not b8 signfficant in th8 context of the charity's net assets at 31 March 2024.
LAMPORT HALL PRESERVATION TRUST LIMITED AND SUBSIDIARY UNDERTAKING8 Notes to thè financial stslemenls for the year ended 31 March 2024 Flx•d a$$ot invfjstmenls {continuedl Investmènt proportigs The investment properties include cottages. fam land and commercial propertiss that are held as part of the endowment estate. The fami land is included as an Investment propety In the financial statements of the chaiity bul is included a8 an operatlonal flxed assel In the group due to belng ot¢upied by the Lamport Farms Limited subsidiary. These investment propee8 were revalued by Mr J Stable8. Bsc. MRICS. FAAV as al 31 March 2024. The basis of the valuation used was open market value. If the investment properlS had not been revalued. they would have been included on the historical $1 basis at the following amounts.. Investment prop&rtl•$ Cost A5 at 1 April 2023 and 31 March 2024 5,479,193 As at the dale of approving these accounts the Trustees are of the opinion that the Investment value is not materially drfferenl from the March 2024 valuation. If listed inveslmenls had not been revalued. they would have been included on the hlstori¢al cost basls al the following amount$: Th• group and thg charlty Llstad investments Cost At 1 April 2023 Addilions in the year Disposals in the year 3,874,188 265,371 1199.462) At 31 March 2024 35
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Not•s to the financial statements for the year ended 31 March 2024 9. Stock Th• group 2023 2024 Consumable goods for ffjsale Live and dgad stock, growing crops and cultivations and stores 4,219 409,859 4.219 410.9M 414,078 415.163 10. Debtors The gn>up 2023 Th• chartty 2024 2024 2023 Trade debtors Amounts owed by group undertakings VAT Prepayments and accrued income Other debtors 138,158 319.001 70.923 121,326 695.823 579,951 7,543 68.284 23,174 45,617 6,601 35.021 4.433 3.472 237.159 371,219 806,200 704,749 11. Creditors: amounts falling du• wtthln one yoar The group 2023 The charrty 2023 2024 2024 Trade creditor5 Social security and other tax85 Accruals and deferred income Hire purchase Other creditors 117,908 4,189 133,626 27,490 23.762 299,908 39,738 69,391 21,551 51,654 29,927 365 29.426 76,340 39,738 35,179 23,842 23,840 306.975 482.242 83,560 175,097 12. CredStors: amounts falllng due after one year Th• group 2023 The charity 2023 2024 2024 Hire purchase 65,528 92.105 42.589 49,007 65,528 92,105 42,589 49,007
LAMPORT HALL PRESERVATtON TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Not•¥ to th• financial statements for the year ended 31 March 2024 13. Funds Group R05tatod Galns, Balanc• at 1 Lo$sgs Balance at April Incoming R•sourc•$ and 31 March 2023 Resour¢•s Expènded Transfèrs 2024 Rtricted funds EndOlent Estste fund Preservation Trust fvnd Bursary fund Total Preservatlon Tnjst fund 28,667,973 3,363,769 48,947 3,412,716 570,212 132.058 1225.885) 1,061,192 30.073,492 1864.381} 276,098 2,907.5H 48,947 276,098 2,956.491 132.058 1864.381} Lamport Church 18,741 18,741 Total rostri¢ted funds 32,099.430 702,270 1,090.266 1,337,290 33.048,724 Unrostrirtgd funds NoharItable Iradirbg fund$ 345,363 1,025,672 (875,068} 1330,172) 165.795 Total unrestrlcted funds 345.363 1.025.672 875.068 330.172 165,795 32,444,793 1,727,942 1,965,334 1,007,118 33.214,519 ompany Reststed Galns. alance at I Losses Balance at Aprfl InGomlng Rgsource$ and 31 March 2023 Rosou0$ Expended Transfers 2024 R8strl¢ted fund$ Endowmenl Estale fund 39.780,226 704.211 {305,811) 1,007.118 41,185,744 Pre$erv8tion Trust fund - Bursaryfund Total Pr8servation Trust fund 4,031,127 48,947 4,080,074 389.135 {845,439) 3.574.823 48,947 3.623.770 389,135 {845,439) Lamport Church 18.741 18.741 43.879.041 1.093.346 1.151,250 1,007.118 44,828,255 The Endowment Estate fund was established on 14 November 1985 as an expendaL4e endowment fund in accordance with the Will of Sir Gyles Isham. The Prosèrvatlon Trust fund was 6Stablished on 14 November 1985 as a restricted fund in accordance wth the Will of Sir Gyles Isham. Within the Preservation Trusl fund. Ihe Trustees have established a specific Bursary fvnd. This Bursary fund is to be used in accordance with the artides of the Charity, "lo found, create, maintain and offer scholarships. exhibrLions, priz8s and rewards for educational purposes and in particular for purposes conngcted with historic or aesthetic education.. As pari of the arrangements lo realise funds from asset sales the Trustees agreed lo eslabllsh a restricted fund for Lamport Church in order that the income arising may be applied to the fabric of the church. rcharitable trading funds repres8nt the trjnds of the group's subsidiary undertakings Lamport Enterprises Limit8d and Lamport Famis Limited. 37
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SU88IDIARY UNDERTAKINGS Nol•$ to tho finan¢io1 $tatomonts for tho year onded 31 March 2024 13. Fund$ (continu) Gn>up {Prior yèar) R•$tated Gains, Re$tated Balance at 1 L05s0¥ Balance at Aprll Incomlng Resour¢es and 31 March 2022 Resources Expènded Transf•rs 2023 Restrlcted fund8 Endowment Estate fund Preservation Trust fvnd ursary fund Total Preservation Trust fund 28.495,329 3,755,925 50,197 3.806.122 532.777 96.550 1209,7821 (150,3511 28,667,973 1720,8321 232,126 3,363,769 1,250 48,947 1722,0821 232,126 3,412,716 96,550 L8mport Church 18.741 18,741 Total rostrictsd funds 32,320,192 629.327 931,864 81.775 32,099,430 Unrn5triGtod fund5 Nonharitab1e tTading funds 318,177 1,373.142 (962,3991 (383,557) 345,363 Total unrestrlcted fund8 318,177 1.373,142 962,399 383.557 345,363 32,638,369 2,002,469 1,894,283 301,782 32,444,793 Company (Prior ygar) R•slated Gain$, Rgstatod Balan¢¥ at 1 Loss•$ Balance at April In¢oming R951)urces •nd 31 March 2022 Resources Expgnded Transfers 2023 Restricted funds EndowTnent Estate fund 39,075,855 544,739 (268.168) 427,800 39.780,226 Preservation TTU$t fund - Bursary fund Total Preserval¢on Trust fund 4,328,771 50,197 4,378,968 423,188 (720.832) 4.031,127 48,947 4.080,074 423,188 {722,082) Lamport Churc 18.741 18.741 43.473.564 427,800 43 879,041 38
LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS Nots$ to the financial slatements for th• year ond•d 31 March 2024 14. Analysls of group net assets b•tW•on fund5 Unrestricted fvnds L•mport Endowment Presorvalion ChUh Eststo fund Trust fund T¢>tal funds Fund balances atr31 March 2024 are represented by.. Tangible fixed assets Fixwj asset investments Current assets Current liabilities Long term liabilities Inlra-fund indebledness 559,102 2,032.201 22,450,062 157,632 (26.912) 7,693.317 10,284,620 22.450,062 127,018 852,340 156.569} 1306,9751 142,589) {65.5281 14,764,686) 548.949 1223.494) 122,939) 1695,823) 18.741 5,460,509 Total net aS8et8 at 31 March 2024 165.79S 18.741 30.073.492 2,956.491 33,214,519 Restatod Lamport Endowment Presorvation Church Estat• fund Trust fund R•$la10d Total funds Unrestrlcted funds Fund balances at 31 March 2023 are represented by-. Tangible fixed assets Fbxed asset investments Current assets Current liabile$ Long temi liabilities Intra-fund indebtedness 527,304 2,052,470 21,314,063 425.838 119,906) 7,688,985 10,268.759 21,314.063 223.570 1,436.318 {135,2741 1482,2421 149,007) (92,1051 (4,315,5581 768,169 (327.0621 {43.098) (579.9501 18,741 4,895,508 Total net assets at 31 March 2023 345.363 18,741 28,667,973 3,412,716 32.444,793 15. Capital Gommitmgnts The group had capital comrnitmgnt$ authorised and Contractgd for at 31 March 2024 of £nil (31 March 2023.. £nill. 16. Contlngent Ilabllltley There were no contingent liabilities at 31 March 2024 or 31 March 2023. 17. Pènsions The eharlty operates a deflned contribution penslon scheme for the benefit of the senior employees. Tha assets of the scheme 8re administered by trustees In a fund independent from those of thg Charity. During Ihe year, eonlrlbution$ pald to the stheme totalled £13,750 {2023.' £18,114). 18. Constitutlon The trust is a registered charity and 18 a company limited by guarantee wllh no share capital. 39
LAMPORT HALL PRESERVATION TRUST LIMrrED AND ITS SUBSIDIARY UNDERTAKINGS Notss to the financial statement$ for th• y•ar •nd•d 31 March 2024 19. R•lat•d party transadlons The following transactions took place with the charity's wholly owned subsidiaries.. Lam rt Famis Llmlted Rent received - £130,000 (2023.. £130,000) Service charge received- £1,25012023.. £1,250) Interest received - £4,000 (2023.. £4,000) Gift aid received - £94.71412023.. £205,763} rt Enter ises Limited Rent received - £13,500 (2023: £11.0001 SeNic8 charge reived- £21,50012023'. £16,181) Gift aid received - £46.26712023'. £15,363) The balance due from wholly owned subsidiaries is disclosed in note 10, 20. Reconciliation of not movement in funds to n•t ¢a$h flow from operatlng actlvllles 2024 2023 Net movement in funds Investment income IGains)Ilosses on inv8Stments Depreciallon (Lossyprofft on dlsposal of fixed assets Decreaselllncrease} in stock Decreasel{Increase} in debtors IDecrease}Ilncrease in credltors 769,726 (672,3201 {1,070,0901 311,734 (1,7971 1,085 134,060 {181.2C61 {99,297) 1643,864) 207,503 289.358 145.596) 1172,0911 28.568 336,634 (708.8081 {98,7851 21. Cash flows from Invesllng actlvltles 2024 2023 Invastmanl Incomo Purchase of listed investments Disposal proceeds from listed Investments Movement in cash awaiting investmenl Purchase of tangible fixed ass815 Receipt from sale of red assets 672.320 1265,3711 199,462 643,864 1551.083) 687.880 1329.798} 4.000 1540,596) 53,510 280.613 293,575 22. An•ly$ls of chang•s In n•t debt At 1 April Cash flows At 31 March 2023 2024 Tho Group Cash al bank and in hand Debt due within one year Debt due after one year 649,936 121,551 } 92.105 536.280 {448.8331 15,9391 26,577 428 195 201,103 (27,4901 65.528 108.085 40
LAMPORT HALL PRESERVATION TRUST LIMITEO AND ITS SUBSIDIARY UNDERTAKINGS Management Inforniatlon Year ended 31 March 2024 Tho following paggs do not fomi part of tha statutory financlal stslements
LAMPORT HALL PRESERVATION TRUST UMITED Income and expendltur• a¢count for the year ended 31 Mar¢h 2024 Restated Total 2023 Lamport Endowment Pr¢seNation Church Estate fund Twst fund Total 2024 Income and èxpendlture Incomlng r#sources Rents received House showing Service Charg88 Investment income Gfft aid Donations and grants Sundry income 525,8TT 46,879 19.322 102.676 2.158 140.981 3.642 73.477 572.756 19.322 102.676 180.492 140.981 3,642 73,477 592,086 15,590 94,512 131,270 221,126 504 34.876 178,334 Total Incomlng re$ourGgs 704.211 389.135 1.093,346 1,089,964 RèsourGg$ expended Direct charitable expenditure Staff costs Depreciation Repairs and renewals Other 422,890 70,471 94,115 178,232 422,890 161,605 115,366 187,100 309.527 164.794 146.469 237.119 91,134 21,251 8,868 121,253 765,708 886,961 857,909 Investment management fees Managernenl and administration 19,247 165.311 19,247 245,042 33.837 113,599 79.731 184,558 682.953 264,289 147,436 Total re$our¢o8 gxpended 305,811 845,439 1,151,250 1.005,345 Net (outgolngifinGomlng resourc98 before other ro¢ognisod losses 398.400 1456.3041 (57.904} 84,619 Olher rncognlsed lossè$ Net gainsl{lossesl on Investment assets 1,007,118 1,007.118 320.858 N•t mowments In funds 1,405,518 1456.3041 949.214 405.477 Fund balances brought forward At 1 April 2023 18.741 39,780,226 4,080.074 43,879,041 43.473.564 Fund balances earri•d forward at 31 March 2024 18.741 41,185.744 3,623,770 44,828,255 43,879,041