Registered number: 01331300 Charity number: 274366 SUSSEX HERITAGE TRUST LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024
SUSSEX HERAGE TRUST uMrrED IA Company Limited by Guarnntee) coKrEpirs Page Reference and administratfve details of the charity. Fts trustees and advisers Trustees. report Independent examinevs report ststement of financial activitles Balance sheet Notes to the financial statsments 9-17
SUSSEX HERrrAGE TRUST LIMrrED IA Company Llmited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees D N Cowan, Chairrrran J N Whitrnore. Vice ChainTAn C V Anson. V A M Back- apwinted 23 January 2024 L S Chan- appointed 21 January 2025 S Chapman, J E T Cooper R N CrooK G L Flight- appointed 29 April 2025 C S Homan- retired 29 April 2025 N S Jones. R D B Pailthorpe J R Pavey- appointed 29 April 2025 G Peters, - retired 24 September 2024 S C Ward, rebred 24 September 2024 V A G Wlliams.- retired 24 September 2024 Patrons Lord Egremont (President) N H Clutton OBE J C Small Rt Hon Lord Lloyd of BeCk The Lady Renton of Mount Harry C Gebbie OBE V Hancock ACHJohns J D Godfrey N J Holland Company registered number 01331300 Charity registered number 274366 Registsred office Room 42 Chichester Enterprise Centre. Temiinus Road. Chichester. West Sussex, P019 8FY Company s¢¢retsry C S Homan- retired 29 April 2025 G L Flight- appointed 29 Apttl 2025 Independent Examiner LTS Accounting Hillside Crossbush Amndel BN18 9PQ Page 1
SUSSEX HERITAGE TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report togetherwilh the finanryal Statements for the year 1 January 2024 to 31 December 2024. The Trustees confimi that the Annual Report and financial statements of the company comply with the current ststutory requirements, the requirements of the company's goveming document and the provisions of the Statement of Recommended Praclice ISORP). applicable lo charities preparing their accounts in accordance with the Financial ReForbng Slandard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191. Since the company qualifies as small under section 383, the Strateg report reqUId of medium and large companies under The Companies Act 2006 {Strategic Report and Difectorfs Report) Regulations 2013 is not required. Objectives and Activities a. POLICIES AND OBJECTIVES In setting objectives and planning for 2¢tivrbes. the Trustees have gNen due consideration to general guidance published by the charity commission relatsng to public benefft and in particular to its supplementary public benefit guidance as to deciding what activth.es the trust shwld undertake. b. ACTIVITIES FOR ACHIEVING OWECTIVES The Trust is principalty engaged in preserving, improving and encouraging the appreciatton of the architectural and natural heritage in the counb.es of East and West Sussex. c. ACHIEVEMENTS AND PERFORMANCE Sussex Heritage Trust is a registered chanty estsblished in 1977 to preseNe, improve and encourage the appreciation of the architectural and natural land9Fe of Sussex. INe do this by: Recognising and Cebrating high qualty nSeNatIOn. restoration and new build projects in Sussex Taking a strategic interest in Su&sex building and lands(3pe conservation issues Highlighting. surveying. and reporting on Buildings at Risk Working with govemment agencies, Ial authorthes. and CLsmmunty groups on heritage projects Offering relevant eduCatnal OprtUnIeS for young people based in Sussex d. CHAIRMAN'S REPORT We started the year with exalted company and an ecdestastscal flavour when we launched the 2024 Awards at St Michael and all Angels church in Berwick. The church was the deserved winner of both an Award and the inaugural Eco Award in 2023 forthe cOnseation work which incorporated ground sourced heating into the fabric restoration. We were honoured with the preseft ofAndrew Blacknian, the Lord Lieutenant of East Sussex and Richard Bickersteth, the High Shertff of East Sussex. 60 guests were treated to a f8illating exposition of the works by the Rev Peter Blee. The event was generousty sponsored by Toovey's Aucb"oneers. In the late spring Lord and Lady Egremont allowed us a private tour of their gardens, lead by Lady Egremont. The tourwas a sell out and raised much needed fvnds for the Trust As part of the Taster Day programme we enlisted Leanne O'Boyle to support this training programme. She joined us from the Sussex Archeological Society to set up the Taster Day pilot in June. As part of the programme to involve the wider construction community in this skills programme we held a Construction Industry breakfast with our educztion partners. the Chichester College Group. who host the event in the college. The resuS1ing enthusiasm lead lo offers of support from a number of construction companies. Page 2
SUSSEX HERAGE TRUST LIMITED (A Company Limited by Guardntee) TRUSTEES. REPORT (continued) FOR ThE YEAR ENDED 31 DECEMBER 2024 The Taster Day itself offered up to 40 youngsters, already training on construction courses, to experience trades and skills not included in a mainstream prospectus, such as handmade bricks, green timber jointing, hurdle making and wattle and daub. In earty May we joined Gravetye head gardener, Tom Coward for a trip around their fabulous gardens. Ourthanks to Celine Leslie, of Gravetye. who arranged the visiL The Awards themselves try)k pLace in Lancing College Chapel as part of a series ofevents to mark the College's 175th Anniversary. 260 guests joined West Sussex's Lord Lieutenant Lady Emma Bamard to hear a description of the completion of the West End of the thapel by Jenney Tomlinson the Steward. Our thanks to Jeremy for n?king the event possible as well as to Headline sponsor Imft Mitchell. The Trust, working wrth Heritage Crafts fijnded East Sussex based Joseph Lancaster on a lime plastering course at Ty-mawr Lime and Carrington Lime. We were fortunate to obtain the services of Lucy Archer, to talk atKtrut the revered architect Raymond Erith, who, among other things, redesigfted 10 Downing Street after the War. Lucy is both his daughter and biographer. The venue was Bentley Fam, one of his three commissions in Sussex and redesigned for Gerald and Mary Askew. Guests enjoyed a tour of the building and a three (x)urse lunch before sething down lo leam about his life and career. Our thanks to Ingrid Christopherson for pernission to use the propety and Cowan Architects for their sponsorship. To round off the year the Trus( in conjunction with the Chichester Community Development Trust held a "Treasures Unveiled" evening in November, where aUCb"onr Rupert Toovey captivated his audience by identifying, describing and valuing a number of items brought by guesls. The event was held in the Graylingwell Chapel in Chichester and was sponsored by RwAmtrOng. TcKJvey's and FlInt1k Ltd. The Trust has beneffted enomKsusty from sponsorship over Ihe year with the list tw long to recount here. Our thanks to all our sponsors who Continue to supwrt the imp)rtant work we do. Our Trustee Board has been strengthened by the aThival of W0(1a Back. MD of RH & RW Clutton and James Pavey, a director at Irwin Mitchell. Lastly I must acknowledge the hard Work ofthe office team. Helen, Hannah and K2tya without whom none ofthis would be possible. Fsnancial rnvi•w . REWEW OF ACTV4lEs Thère was a loss this year of£17,5(2L3- wofft£14.557). b. INVESTMENT POUCY AND PERFORMANCE The charrty holds rm) irwestrnènts exc£pt as desoited as Legacy Assels in note 1.16. c. GOING CONCERN After making appropriate enquiries, the trustees have a reasonable e>3t)n that the (panY has adequat¢ reSoUS to continue in operalii)nal existence forthe foreseeable fvture. Forthi5 reason, they coniinue to adoptthe going COnrn basis in preparing the financial ststetnents. Further details regarding the adoption of the going concern basis can be found in Ihe Accounting PolicAes. Page 3
SUSSEX HERITAGE TRUST LIMED (A Company Limited by Guardnteel TRUSTEES. REPORT {contsnued FOR THE YEAR ENDED 31 DECEMBER 2024 d. RESERVES POUCY It is Il poli¢y of the trust that f( should maintain Unrestrict fvnds that have not been designaled for a speufic purpose at a levèl equivalent lo srx months of expendriure, taking into cx)nsideratKJn the trusfs year adivity cyde. The Trustees consider that reserves of this level will ensure that in the event of a svJnTficant drop in fvnding theywill be able to continue the Trust's current acbvities whilst consideRtion is gNen lo ways in which acvty can be continued and additional fvnds may be raised. The Tnjstees considerthe Present level and reseNes lo be adequ in this res Structure, goveman¢e and rnanagement . CONSTITUTION The company 1$ registered as a tharilable company fimitgj by guarantee and was constituted by a Trust Deed on 23 Seplernber 1977 and is a registered charrty {number 27481. The prinrApal object of the company is to preser¥e. imFwo¥e and encrage the apweuation of the arthiterlural aThJ natural heTilage in the counties of East and West Sussex. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibilty of tr Tnjslees are deded and co-opted under the terms of the Artides of A&soriab"on lo meetthe needs of the Trl c. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity is a company limited by guarantee. The Trust considers the Charrty Govemance Code for smaller chartties the principles and recommended pra(ce tt sets OUL d. RISK MANAGEMENT The Trustees have assessed the major risks to whith the company is exposed, in paTtioJlar those relale(J lo the <4)eralsons and finances ofthe company and are satisfi&J that systems and procedures are in place to rngate ourexposure lo the major risks. FUTURE DEVELOPMENTS The tharity has sufficient resour for the foreseeat4e ftrture arky devdopmenl plans Ix)ntiftuè. The expansion of our apprenti and endangered crafis sd)eme 11 continue to be developed through new partnerships wrth lo(21 like-minded organisalions. arè exploring erthuragwvJ environmental cortsideratk)ns and improvements through oui planned work. FUNDS HELD AS CUSTODIAN There are no funds hekl as cttodKan. Page 4
SUSSEX HERtrAGE TRUST LIMTfED (A Company Limited by Guarantee) TRUSTEES. REPORT (conlinued) FOR THE YEAR ENDED 31 DECEMBER 2024 MEMBERS. UA8ILrrY The Members of the o)mpany guarantee to ujntritrxrte an amunt not ex¢eethng £10 to the assets of Ihe charity in the event of wnding UP None ofthe Members has any benefiaal interest in the company. AJI of the TTU5tee5 are Member5 of the mpanY. This report was aFgroved by the Tft. on j4lJ< and sI9d their tlf by: G L Fltght Company Secyetary Page 5
SUSSEX HERtrAGE TRUST uiirrED IA Company Limited by Guarantee) INDEPENDEKf EXAMINERE REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDEKt EXAMINER'S REPORTTO THE TRUSTEES OF SUSSEX HERITAGE TRUST LIMITED Ithg '¢ompany? l to the crIty Trust¢es on my examination of the accounts of the company for the year ended 31 December2024. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the MpanY land fs directors for the purposes of company law) you are responsib for the preparation of the accounts in accordarKe with the requirements ofthe Companies Act 2006 lkne 2006 ACY). Having satisfied myseff that the accounts of the company are not reqLFired to be audited under Part 16 of the 2006 Art and are eligible for in(lependenl examination, I reFQrt in respect of my examination of the company's accounts carried out under section 145 of the Charibes Act 2011 Cthe 2011 ACY). In 12rrying out my examinatKJn I have follcfyyed the Directions gtven by the Charity Commission under section 145(5llbl of the 2011 ACL INDEPENDEKf EXAMINER'S STATEMENT I have completed ry examirRtton. I can confimi that no matter5 have come to my attenbon in llnection with the examination giving me cause to believe.. accounting records re not kept in r&sFeCt of the company as required by section 386 of the 2006 Act. or the accounts do not accord w5th those re¢ords", Ix the accounts do not comply wtrt the accounting requirements of section 396 of the 20C6 A¢1 other than any requiiement th* the aUnIS gNe a Ynje and VFew which is not a rnatter consi(Jered as part of an independent examination= or the accounts have not been prepared in aCrdanCe with the methods and principles of the Statement of Recommended Practi¢e for aceounting and reporting by charithes lapplicable to charEtEs preparing their 8¢¢ounts in accordance with the Reporting Standard applicable in the UK and Republic Ireland IFRS 10211 I have no concems and have Come a(xoss no other matters in connection with the examination lo which attention should be drawn in this report in other to enable a proper understanding of the a¢Uts to be reached. Dated. o&19 JQ L Taylor-stoakes Hillside Crossbush Arnndel West Sussex. BN18 gPQ Page 6
SUSSEX HERAGE TRUST LIMrrED (A Company Limited by Guardntee} STATEMENT OF FINANCIAL ACTivmES INCORPORATING INCOME AND EXPENDITtr<E ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Funds Funds 2024 2024 Totsl funds 2024 Totsl nds 2023 INCOME FROM: Donations and legacies Charitable activities Investments 32,714 97.968 20,994 53,708 97,968 48,390 107,133 TOTAL INCOME 154 843 157 873 EXPENDITURE ON: Charitable activib.es TOTAL EXPENDITURE 140 056 172 389 143 316 140.056 172 389 143 316 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES AND NET MOVEMENT IN FUNDS 16.207) (11,339) 117.5461 14,557 RECONCILIATION OF FUNDS.. Total funds brought forward 105276 The note5 on pages 9 to 17 fonn part of these finanaal statements. Page 7
SUSSEX HERITAGE TRUST LIMITED (A Cornpany Limited by Guarnntee) REGISTERED NUMBER: 01331300 BALANCE SHEEr AS AT 31 DECEMBER 2024 2024 2023 Note CURRENT ASSETS Debtors and other assets Cash at bank and in hand 10 22.311 138711 6,020 130.422 161.022 136,442 CREDITORS: amounts falling due within one year 11 31 166 NET CURRENT ASss 105276 NET ASSETS CHARITY FUNDS Restricted funds 12 17,347 30,342 unstrICted funds 12 TOTAL FUNDS The company's financial statements have been prepared in aCrdan with the provisions applicable to companies subject to the srrrall companies. regime. The Trustees consider thal the c4)mpany is enliued to exempb.on from the requirement to have an audit underthe provisions of section 477 of the Companies Act 20C6 {"the Acr} and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the ACL The Trustees acknowledge their responsibilttses for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation offinanaal statements. The financial ststements were approved and aulhorised for issue by the Trustees onjl gljtsnd signed on their behalf, by: Chaimia Treasurer The notes on pages 9 to 17 fom part of these financial statements. Page 8
SUSSEX HERITAGE TRUST LIMITED {A Company Limited by Guarant¢¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with 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 IFRS 1021 (effective 1 January 2019) - {Charibes SORP {FRS 1021}, the Financial ReF¥)rting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CoMpanS Act 20C6. In the application of the mpanY'S accounting policies. the Trustees are required to make judgements, estimates and assumpttons aboui the carrying amount of assets and liabilrties that are not readily apparent from other sources. The estimates and associated assumptions are based on historical eXperIen and other factor5 that are considered to be relevant. Actual results may drffer from these estimatss. Sussex Heritage Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities a initialty reccgnised at historical cost or transaction value unless otherwise stated in the levant accounting policy. 1.2 Company ststus The company is a company limit&J by guarantee. The members of the company are the Trustees named on page 1. In the eventof the company being wound up, the liabilty in respect of the gLAarantee is limited to £10 per member of the company. 1.3 Fund a¢counting General fvnds are unrestricted ftjnds which are available for use at the discrelton of the Trustees in fSjrtheran of the general objectives of the o)mpany and which have not been designated for other purposes. Restricted ftjnds are ftjnds which are to be used in accordance wtth specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and adrninistering such fvnds are charged against the SFeCff fvnd. The aim and use of each restricted fund are set out in the notes to the financial ststements. Investrnent income. gains and losses are all¢)cated to the appropriate fiJnd. 1.4 Income All income is recognised ono the company has entitiement to the income, il is probable that the income will be received, and the amount of income receivable can be measured reliably. For legacies, entitlement is tsken as the earfier ofthe date on which either. the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executorls) to the Trust that a distribution will be made, or when a distribution is r1Ved from the estate. Receipt of a legacy. in whole or in patt is onty considered probable when the amount can be rneasured reliably, and the company has been notifled of the executr)rfs intention to make a distribub"on. ere legacies have been nottfied to the Company. or the company is aware of the granting of probate, and the criteria for income recOgnon have not been met, then the legacy is treated as a contingent asset and disclowj rf matenal. Page 9
SUSSEX HERITAGE TRUST LIMrrED (A Company Limited by Guardnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (¢ontinuedl 1A Income {continued) Donated seTviS or faulities are recognised when the company has control over the item, any conditions assocHted with the donated ttem have been met, the r1p1 of economic benefit from the use of the company of the ttem is probable and that economic benefft can be measured reliably. In accordance with the Charities SORP {FRS 1021, the general volunteer time of the Friends is not recognised and refer to the Truste&%' report for more inkjrmation about their contn"bL6ts0n. On receipt, donated professiona5 services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the cornpany would have been willing to pay to obtain services or facilities of equivalent economic benefft on the open market.. a COespOnding amount is then recognised in endIture in the period of rlpL Income tsx recoverable in relation to donations received under Grft Aid 01 deeds of covenant is re¢ognised at the time of the donation. Income tax recoverable in relation to inveslment InMe is rnISed at the time the investment income is receivable. Other income is recognised in the pefiod in which it is receivable and to the extent the goods have been provided or on completion of the Se1. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaknng each activrty. Direct costs attiibutab5e to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support Ix)sts which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of wources. Central staff costs are allorxted on the basis of time spent, and depreciation charges allocated on the portton of the asseys use. Fundraising costs are those incurred in seeking voluntsry ¢onlributions and do not include the costs of dissemir¢ating informats.on in sUPPOrt of the charitable activrties. Support costs are those costs incurred direcdy in support of expenditure on the objects of the charity and include any project management costs of the head office. Costs of generating ndS are costs incurred in attracting voluntsry inwme, and those incurred in trading activities that raise fvrtds. Charitable activities and Governan cts are costs incurred on the (tfympany's educational operations. induding support Costs and costs relating to the govemance ofthe company appothoned to charitsble activities. Page 10
SUSSEX HERrrAGE TRUST LIMrrED (A Company Llmited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES {conlinued) 1.6 Intsrest receivable Interest on fijnds held on deposit is included when rl¥able and the amount can be measured reliably by the comparty- this is nom*lly upon notificalton of the interest paid or payable by the Bank. q.7 Debtors and other assets Trade and other debtors are rewgnised at the settiement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. The other asset represents a bequest ofa painting received by the charity and which has been valued by the trustees at ests"mated aucb.on value less costs. which will occur when conditions allow. 1.8 Cash at bank and in hand Cash at bank and in hand includes cash arid short terrn highly liquid investments with a short maturity of three months or less from the date of acquisits.on or opening of the deposit or similar account. 1.9 Llablllties and provisions Liabilities are recognised when there is an obligation * the Balance sheet date as a result of a past evenL itls probable that a transfer of economic benefft will be required in setdemen( and the amount of the settlement can be estimated reliably. Liabiltbes are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has reNed as advanced payments for the goods or services tt must provide. Provi510ll5 are measured at the best estimate of the amounts required to settle the obligation. 1.10 Financial instntments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inTti"alty recognised attransaction value and subsequently measured at their settlement value. 1.11 Donatlons Donations are accounted for when rered. 1.12 Membership Membership income is accounted for when received. 1.13 Rent Rental income is accounted for when reIved. Page11
SUSSEX HERrrAGE TRUST LIMITED (A Company Limited by Guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (continued) 1.14 Taxation The company is a registered chatrty and therefore exempt from liabilty to tsxation on its income. 1.15 Allocation of costs Administrative support costs are allocated to governan and the cost of generating funds in proportion to the amount oftime spent on each activity. Other costs are allocated based on the activity to which they relate. 1.16 Legacy assets The Trust is the freeholder of the Tollhouse at Ash¢ombe ESX258773). The propety is not included in the balance sheet of the Trust as it has no original cost and conventional valuation approaches lack suffiaent reliability. The Trust has a freehold reversionary interest in 11111a Market Street Lewes on a 999-year lease from 1 April 1979. The trust has a freehokl interest in a fraction of land at 1551156 The Street. Clapham. Worthing [Trt WSX2070851W6X1981631 The Trust has the benefit of a restrictive covenant on 10 Cltfton Hill, Brighton ([e ESX58747}. 1.17 Gfants Grants are included when noltfied arbj matched to the costs against which they relate. Covid related grants are included when r1ved. 1.18 Donated items The TnJst holds a collection of aorkS donated by a IcKal Sussex artist, which has no original cost and nventiOnal valuation approaches lack sufficient reliability. The trustees are still considering a methodolo9y to ascertain a valuation as COVKI prevented a salisfactory distM)sal of the Collection. Page 12
SUSSEX HERAGE TRUST LIMITED (A Company Limited by Guardrrteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2024 Total funds 2024 Total funds 2023 Donations and legacies Total 2023 INCOME FROM CHARrrABLE ACTivmES Unrestricted Restricted Funds Funds 2024 2024 Total funds 2024 Total funds 2023 Awards entries and participation Awards support Income from heritsge events 34.129 50.394 34.129 50.934 28,863 46.830 Total 2023 INVESTMENT INCOME Unrestricted Restricted Funds Funds 2024 2024 Total funds 2024 Total funds 2023 Investrnent income Total 2023 Page 13
SUSSEX HERAGE TRUST LIMrrED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTMTIES Annual Heritag• Awards Local Herllage Heritage Support and Events Education Total 2024 Total 2023 Produ¢tion costs Property maintenan Education & outreach Support costs Goveman¢e costs 105.169 19.213 124,382 113,588 31.508 31,508 9,911 15.925 8,398 6.937 2,478 329 Total 2023 Expenditure on charitable activities was £172.389 {2023 - £143.3161 of whKh £140,0 was unrestricted 12023 - £98,832) and £32,333 was restricted (2023- £20.485). ANALYSIS OF GOVERNANCE AND SUPPORT COSTS The trust initially identifies the costs of its support funth"on5. It then identifies those costs which relate to the govemance function. Having idenltfied its governan(z costs, the remaining support costs together with the governance costs are apportioned betsveen three key charilable activ*tses Isee note 51 in the year. Refer to the table below forthe basts for apportionment and the analysis ofsupport and govemance costs. Support Governance Total Funds Total Funds 2024 2024 2024 2023 General office Subscriptions Trustee meebngs Professional fees Independent examination 8,647 1,263 5.765 14,412 1,263 12,105 1.135 90 733 733 563 Total Total 2023 Page 14
SUSSEX HERrrAGE TRUST LIMrrED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 SUMMARY ANALYSIS OF EXPENDuRE AND RELATED INCOME FOR CHARITABLE ACTIVITIES This table shows the cost of the three main charitable activ"eS and the sources of income directly to support those activikn"es. Annual Hertlage Awards Local Heritsge Heritage Support and Events Education Total 2024 Costs Entries and attendan Direct support Grants {116.718) 34.129 50.394 (23,338) 13,444 (32,333) (172,3891 47,573 50,394 20,994 20.994 Total 2023 Costs Entries and attendance Direct support Granls (93,152) 28,863 46.830 (33,549) 31,441 {16.615) (143,3161 60,304 46,830 36,995 36.995 Total Grants red in 2024 includes £Nil (2023 £Nil) received under various Govemment Covid support schemes. NET INCOMEI (EXPENDITURE) This is stated after charging= 2024 2023 Independent Exarninerfs Fees During the year, no Truslees receNed any remuneration12023- £NIL). During the year, no Truslees receNed any benefits in knnd12023 - £NIL). During the year, no Trustee r1Ved reimbursement of expenses {2023- £Nil}. EMPLOYEES There were two employees during the year (2023- Iwo). 10. DEBTORS 2024 2023 Trade debtors Prepayments and a¢crued income 9,370 12.941 2,115 3,905 Page 15
SUSSEX HERrrAGE TRUST LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. CREDITORS: Amounts falllng due withln one year 2024 2023 Trade creditors Other creditors Accruals and deferred incorr 1,147 1,100 12. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURREKf YEAR Balance at 3q December 2024 Balanee at I January 2024 Income ExpendIre Unreslri¢ted Funds General Funds- all funds Restrfcted Funds Apprenti and Endangered Craft fund Total of funds STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 December 2023 Balance at 1 January 2023 Income Expendire Unrestricted Funds General Funds - all fvnds 120 78 122 831 Restricted Funds Apprenlce and Endangered Craft fund Totsl of funds Apprentice and Endangered Craft fund- To SUPFQrt local indNiduals in buikling herilage crafts, training and skills. Page 16
SUSSEX HERrrAGE TRUST LIMrrED (A Company Limited by Guarantee) NOTES TO THE FINANCUIL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS CURRENT YEAR Unrestricted Restricted Funds Funds 2024 2024 Totsl Funds 2024 Current assets Creditors due within one year 140,019 {73,292} 21,003 161.022 (73.292) PRIOR YEAR Unrestricted Restricted Funds Fund$ 2023 2023 Total funds 2023 Current assets Creditors due within one year 104,100 131,166) 32.342 136,442 {31,1661 Page 17