Lauderdale House Society Limited (Limited by Guarantee)
## Lauderdale House Society Limited
(Company Limited by Guarantee) Registered Number 1352278; Charity Number 275502
## Report & Financial Statements
## 31 March 2024
Warner Wilde
4 Marigold Drive Bisley Surrey GU24 9SF
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Lauderdale House Society Limited (Limited by Guarantee)
## Contents
|Company Information
page 3|
|---|
|Report of the Council of Management pages 4 to 26|
|Report of the Auditors pages 27 to 30|
|Statement of Financial Activities page 31|
|Balance Sheet page 32|
|Statement of Cashflow page 33|
|Notes to the Financial Statements pages 34 to 44|
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Lauderdale House Society Limited (Limited by Guarantee)
## Company Information
Lauderdale House Society Limited was incorporated as a Company Limited by Guarantee, not having a share capital (Number 1352278) on 9 February 1978 and became a Registered Charity (Number 275502) on the same date.
Registered Office & Lauderdale House Property Run by the Charity Highgate Hill, Waterlow Park, London N6 5HG
The Directors are also Trustees and are referred to as the 'Council of Management'. The members of the Council of Management (also referred to as the ‘Board’) from 1 April 2023 to 31 March 2024 were:
Anna Haworth (Chair) Roger Freeman Nick Peacey (Vice Chair)` Stanley Haines Paola Barbarino Claudia Kenyatta (retired 9/10/23) Peter Barber Nick Mellor Michael Burman Denise Wilkinson Laure Duhot
Bankers
Lloyds Highbury Corner Branch 31-33 Holloway Road London N7 8JU
Reporting Auditors
Warner Wilde
The Council of Management has pleasure in submitting its Report and Financial Statements for the year ending 31 March 2024 to the Members of the Lauderdale House Society.
Signed on behalf of the Council of Management
Roger Freeman (Jan 31, 2025 12:44 GMT)………………………………..……………………………….………………………………………………………. Roger Freeman, Trustee
31/01/2025 On:…………………………………………………………………………………………………………………
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## Principal Activities
Lauderdale House Society was set up to promote the preservation and maintenance of this historic building which was built in 1582 and is listed as Grade Il*. We offer a wide range of arts, education, heritage and community activities in the House, at partner venues and Waterlow Park where we are situated. We are also an important springboard for an extensive outreach programme across the community. Our users are drawn from local people, the wider community of Camden and the neighbouring boroughs. In a 'normal' year our
## average annual footfall is 75,000.
As is typical of London, we sit between both very affluent areas and areas of high deprivation. Accordingly, we believe we are well placed to bring local communities together. Our outreach work is key to building relationships with different groups of people from different backgrounds. By integrating a programme of free activities for all ages, we create events where everyone has the opportunity to enjoy, learn and engage with the arts and heritage.
We seek to improve the quality of people's lives, offering them new opportunities as we keep this historic house open for the enjoyment of everyone. This is in keeping with the intention of the original gift of the House and Park by the Victorian philanthropist Sir Sydney Waterlow, for arts and heritage for all and a 'garden for the gardenless'. We welcome everyone.
## Anna Haworth, Chair’s Review 2023 to 2024
2023/24 was another successful year at Lauderdale House with an unexpected legacy opening up new horizons and an expansion of our outreach work. Our brilliant team worked with local primary and secondary schools to develop in their pupils an interest in history through historical and creative sessions in
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the House. The “Fresh” scheme, run with LB Camden youth workers, brings in young people from local estates and encourages creative activities. Parents and children from far and wide took part in our Easter trail, the Hallowe’en trail, the heritage weekend family day and the quickly sold-out Santa’s grotto.
Music always plays an important part in the life of the House and we were fortunate to retain pianist Stephen Hose to give his (free!) well-attended Tuesday lunchtime performances with our resident Insieme chamber opera collective. The jazz programme included some extraordinary sessions from long established stars of the jazz world, and the Tea Lawn performances were magical in the fading light.
We continued to offer our lovely spaces for birthday celebrations, weddings and other events – the income from these hires is ploughed back into our education and outreach work. The café has been a great success this year, and the catering for our hire events has been exceptional and very much appreciated by hirers.
With a tremendous team now working in the House, we look forward to another successful year in 2024/25.
## Financial Review: Overview
The financial future of Lauderdale House has been transformed in 2023/24 thanks to an unexpected legacy of £1,975,000 received in March 2024 from a local resident. The long-term impact of this is immense and is discussed in the next section. This section reviews the year’s finances, excluding the legacy.
Excluding the legacy, related audit and accountancy costs and the impairment review of a historic revaluation reserve relating to the lease (see note 8), the organisation ended the year with a planned loss of £25,055. The main factors were the anticipated lower hire income than in the previous year and higher staff costs. Others included continuing increases in electrical and gas costs, inflationary rises across most areas and increased need for ongoing repair and maintenance as it is now seven years since our refurbishment.
The Council of Management decided that a planned loss in this one particular year, while we consolidated the hire income and staffing, was an investment in the organisation’s future and reasonable in the light of
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our reserves. With no government, council or Arts Council core funding, the income from hires, especially weddings, parties and funerals is vital and dependant on the skills of the staff team. Our arts-based hires are heavily subsidised to accord with our charitable purposes and these events augment our programme with minimal financial risk to Lauderdale.
Hire income in 2022/23 was unusual and reached a record £394,981, thanks to events which had been booked to take place in Covid periods and were rolled forward to 2022/23, alongside a surge of new bookings as people made the most of their new freedom to get together. We therefore knew that the 2023/24 hire income would be lower and in fact were pleased to exceed our target of £300,000 to reach £313,791. The year also saw a major salary review resulting in pay increases to ensure we remained competitive in the market for our sector, and to recognise the skills and commitment of the team who are vital to building hire income. Staff costs in 2022/23 also reflected savings when several members of staff moved on to larger organisations to progress their careers, and posts were vacant while we recruited.
The ‘Arts and Education’ heading in the Statement of Financial Activities comprises income and expenditure relating to (a) arts and education hires, (b) ticket sales, enrolments and costs for classes and performances which we produce, and (c) projects funded by restricted grants. The notes show the breakdown between headings.
Restricted funds, incoming and outgoing, generally relate to arts and educational outreach projects which focus on improving access to arts and education. These funds are often received in advance of the expenditure so the income figures for arts and education often include income which will be spent in future years.
In 2023/24 we were delighted to receive a further grant from John Lyon’s Charity to run the secondary school programme and greatly appreciate the fact that these funds also contribute to our own staffing costs to run the project. This, alongside an anonymous donation, enables us to plan our education programme strategically. Smaller funds from the Art Society and the Art Fund (Wild Escape) allow us to increase our reach and impact enormously. We are very proud of the publication of 500 free activity books which resulted from the Wild Escape project.
## Financial Review: Legacy Impact
The legacy is a hugely significant event for Lauderdale House and, used wisely, will secure our future, allow us to invest in our education and outreach programme and expand our impact on the community. At the same time, it will ensure we can continue to maintain this historic house preserving and sharing our unique heritage for the community.
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As we receive no core income from government, council or Arts Council and are dependent on earned income, these funds also allow us to plan strategically in a way which has not previously been possible. They will allow us to take a long-term approach to manage unexpected external events such as Covid, Ukraine war, cost of living crisis and ongoing inflationary rises, and so avoid short-term solutions which may have a longer-term detrimental impact. The legacy also ensures that we have sufficient reserves to act and plan ahead at times when our ‘riskier’ income streams are more vulnerable, and develop a plan for future fundraising in those years.
In the short/medium term, the Board has placed the funds on a low risk high interest-bearing COIF account with the CCLA. While interest rates are high this gives us time over the course of 2024/25 to create a longterm business plan and accompanying capital and income investment strategy. Our aim is to increase our charitable impact, ensure the future of this heritage building and deliver a thriving creative programme for the next 50 years. See the section on Reserves for more detail.
## Review of Activities:
## The Building
Lauderdale House is a rare example of a Tudor merchant’s ‘country’ house, built in 1582 by Sir Richard Martin, Master of the Mint, and his wife Dorcas who discreetly published pamphlets contrary to the religious views of Queen Elizabeth I. Since then it has a wide range of visitors and residents who have created a unique combination of heritage features spanning centuries and a multitude of stories – King Charles II visiting actress Nell Gwynn, the trial of the Quakers Meade and Penn which established the independent of the jury and habeas corpus, chickens and shoes secretly hidden behind the chimney to bring good luck, Florence Nightingale’s advice when the House became a convalescent home for St Batholomew’s Hospital, Victorian archeological parties, the gift by Sir Sydney Waterlow Lord Mayor of London of the house and park ‘as a garden for the gardenless’, and the dog who saved the house its resident parkkeepers from the 1963 fire.
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Lauderdale House Society Limited (Limited by Guarantee)
Each year Lauderdale House Society adds to that history. Established by local people in 1978 when it took responsibility for the House, it has, over the years, repaired, refurbished and brought different parts of the building into use for the community. This process came near to completion with a significant 2016/17 refurbishment which upgraded all of our facilities, immeasurably improved circulation to allow multiple use of different spaces, enhanced and preserved the heritage, replaced a worn out 1960’s building, and introduced major improvements in terms of accessibility and environmental impact.
Lauderdale House Society leases the building from Camden Council, which ‘owns’ it as charity trustee under an 1889 indenture and we currently occupy the building on the basis of an lease agreement which was a condition of the National Lottery Heritage Fund grant of £1.2million at the time of the 2016/17 refurbishment. We continue to work in partnership with the Council in relation to ongoing repair and maintenance and major works.
As usual we have worked hard in 2023/24 to maintain the high standards of decoration and repair and are proud of the House’s condition, especially in the light of an annual footfall of 76,000 people. Camden Council organised some important work to repair the historic columns which has made a significant difference, and for which we are very grateful.
We have recently commissioned a sustainability review to look at the building in the light of technological developments since 2016, and are planning for other important and necessary improvements over the next couple of years, in particular in relation to the cellar and full external redecoration .
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## Local Networks and the Wider Community
We are a core part of the local community, and our location in Waterlow Park means we are ideally placed to bring together the diverse range of communities who live, work and/or study locally. We link the more affluent Highgate with the communities around Archway and towards Camden, many of whom are in areas of high deprivation. Our programme and location offer real opportunities for levelling up in an area of contrasts. Using creativity to explore local heritage and cultures and give a voice to more marginalised groups is an important part of our role.
In 2023/24 we are particularly proud of producing our first Nowruz (Persian New Year) cultural festival in March 2024.
This had its foundations in the fact that many cultures who celebrate Nowruz (Iranians, Afghans, Kurds) come to Waterlow Park to celebrate Sizdeh-bedah, the day during Nowruz when families picnic and barbeque outside with their families, and we wanted to increase local understanding of this celebration. Waterlow Park has historically been a place for the many cultures who celebrate Nowruz, such as Iranians, Afghans, Kurds, to enjoy Sizdeh-bedah, the day during Nowruz when families picnic and barbeque outside with their families,. We therefore programmed this new festival to better reflect this community and to increase local understanding of this important celebration.
Working closely with Iranian artist and curator Mehrdad Aref-adib we hosted an exhibition by seven artists inspired by Persian gardens and Nowruz, talks on food, music and Nowruz, an Iranian jazz night, free family activities attended by Tulip Siddiq MP, a trail in the park, free music outdoors and an extremely busy arts and crafts bazaar. BBC Persian did interviews, and feedback was overwhelmingly positive. We intend to build this into our annual programme.
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‘I am absolutely thrilled to take part in your fantastic event. It was a wonderful opportunity to meet new people and get to know everyone. I am really looking forward to 2025 .’ Stallholder.
Our annual Heritage Weekend, now in its 8[th] year celebrated local heritage venues which bring arts, culture, hospitality and entertainment to their communities. The fair attracted a record number of 22 stalls and there was a real buzz about the events, which were attended by Catherine West MP. We were also pleased to welcome some students from La Sainte Union who helped collect memories. ‘Just a brief note to thank you and your colleagues so much for organising and hosting last Saturday's forum. We all enjoyed it immensely, and made innumerable contacts and learned a great deal.’ The Coleridge Trust
Collaboration and sharing are important to us. We have received much support and advice from other organisations in the past and see it as our duty to share experiences and knowledge with others. Therefore, we continue to be active in relation to other initiatives – we are a member of the Waterlow Park Trust Advisory Group, Young Camden Foundation, Camden Spark, Acland Burghley’s Hall for All Advisory Committee and CulturED. Moreover, our Director is an elected member of the Highgate Neighbourhood Forum.
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We also lead a local Breakfast Network, which, every quarter, is attended by 20 to 25 people representing a wide variety of organisations and venues – community centres, arts organisations, churches, food banks and schools - who all appreciate a regular informal sharing of information and support. ‘Thanks so much for your continuous support. What you do is so important to keep our community together. ’ Naomi Russell, Food Bank Aid
Our participation in the Highgate Festival offers an opportunity to support local creatives.
## Free Programme
Sandwiched between areas of high deprivation and other more affluent communities, it is an important part of our mission to offer a free creative programme designed to maximise access and offer welcoming activities which anyone can attend. Over and above our free outreach and education programme, and 250 free gallery days, we seek to incorporate a consistent offer of activities across the year.
Our 14 free lunchtime concerts performed by our resident pianist, Stephen Hose, and Insieme chamber opera collective, regularly attracted audiences of over 50 with a mix of regulars and new faces. The relaxed atmosphere, wide ranging programme and friendliness of both performers and regular audience make it a special ‘oasis’ of calm and creativity in the middle of the day for many people. The lift ensures maximum accessibility.
Free family activities are also important and we use national celebrations as a catalyst. Over 300 children enjoyed our Easter Trails in Waterlow Park where the Squiggly Sheep, Dancing Chicks and Giant Duckling attracted many fans. For our Heritage Weekend Family Day, children ran around exploring the building and learning about its stories through fun activities such as caption writing, drawing and quizzes. Nowruz offered children a chance to design a Haftsin table and Earth Day workshops created paintings using brushes made of sticks and leaves. We are currently planning to make these free family workshops a monthly fixture.
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## Performances
In 2023/24 we hosted 70 performances and talks, most of which were concerts but also included the book launch of Baboo the Unusual Bee by radio presenter Lliana Bird, a new music and theatre piece on the life of Jane Austen for the Highgate Festival plus talks for the Heritage Weekend and Nowruz.
the concert went very well! It is a beautiful place to perform. Please also pass on my thanks to your team, who were lovely to work with and very helpful when we were setting up.’ Hirer
The programme is a mix of external promoters and those events we promote ourselves such as the jazz programme which has been featuring top names such as Ian Shaw, Nikki Yeoh, John Etheridge and Carol Grimes for 28 years. Following the passing of Brian Blain our jazz programmer at the age of 92 last year, jazz musicians Deirdre Cartwright and Alison Rayner of Blow the Fuse have taken on his legacy. Across the 10 gigs this year we averaged 89% of our full capacity which is a remarkable achievement – a tribute to their programming and our marketing team!
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Lauderdale House Society Limited (Limited by Guarantee)
Our popular outdoors series on the tea lawn featured a wide range of styles including comedy, drag, Cuban jazz and klezmer entertaining local people and bringing in new audiences. On 31 October our site specific Halloween Trail filled the park with ghosts and ghouls of all shapes and sizes, amusing a total of 400 people across eight performances! Other children’s activities included Santa’s Grotto and an enthusiastic Christmas singalong outside despite the chilly weather.
## Exhibitions
With 25 different exhibitions in our main galleries, of which eight were group shows, plus nine exhibitions of work by community groups in the internal courtyard gallery it is almost impossible to pick out individual shows. When selecting artists we look for a range of media, subject matter and experience, balancing upcoming and recreational artists with those who are more experienced, and with an emphasis on local creatives. Some groups make regular appearances and seeing their progression year on year is always exciting. At the same time we make sure that new artists and groups have an opportunity too. For the first time we welcomed The Law Society group show, which was very popular. Visitors and staff alike were fascinated by the work of Eljay Dickens’ first solo show (My Octopus Head), inspired by living with a brain tumour.
The memorial exhibition of the work of Storm Thorgerson, the highly influential graphic designer whose collaborations with bands such as Pink Floyd and Led Zeppelin led to iconic images such as the prism on the Dark Side of the Moon album, attracted much interest. It was all the more special as he had a personal relationship with the house ‘Lauderdale House is where Storm and I married. We loved it. Lauderdale House is where we held his funeral. And I still love it, just up the road from Highgate Cemetery where he is buried .’ Curator and wife, Barbie Antonis.
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Gary Cooke (Gary’s Art) another first time exhibitor said, ‘it really has given me so much confidence it’s unbelievable. If this hadn’t have come along, I don’t think I would have been able to have my second exhibition in the West End, which happened earlier this month. My nerves would have been shot to pieces. . .. Lauderdale House allowed me to overcome a lot of fears - meeting people, being in public – which I always had a problem with. . . I used to think the arts were out of my league, to be honest. Now, I know I belong in the art world.’
Other exhibitions included enormous and meticulous photographs for Earth Day by Alan McFetridge whose work highlights the impact of devastating fire at Fort McMurray Canada; beautiful Chinese brush paintings by Helena Hung, and a creative response to the role of trees in London by the Arborealists and Urban Contemporaries.
Our annual photographic competition is always popular. It offers local photographers an opportunity to share their work and gallery visitors the chance to enjoy a wide range of styles and subject matter. The private view is always a lively exchange of people’s different experience and approaches. For the first time we ran a youth section and will build on this in future years.
The internal Courtyard Gallery is a central thoroughfare through the building and, therefore, an excellent showcase for work by our Fresh Youth Collective, school projects and other community groups. We very much enjoyed hosting the Harington Scheme, who work with young adults with learning disabilities and/or difficulties, for the first time .
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## Workshops and Classes
This programme comprises classes which are programmed and managed by us alongside those run by external hirers, creating a vibrant and broad offering for everyone, from toddlers to the retired. Most of the classes are arts based and in an average week during the term we host 38 sessions, including our own inHouse workshops, totalling 1,272 over the year. The value they offer to the community should not be underestimated in terms of learning and stimulation together with invaluable social interaction.
We pride ourselves on maintaining close supportive relationships with the hirers. Our own watercolour class and life drawing classes continue to be full, and the new evening life class has had a great response. The children’s drawing and painting classes have also continued to build since their post covid re-introduction.
## Secondary School Outreach Programme
Our secondary school programme focuses on creating replicable models which run over multiple sessions in school and at the House. These give young people an opportunity to develop a relationship with a practising artist, with Lauderdale House itself and to enhance and improve learning above the usual curriculum offer.
We are therefore delighted that, thanks to a third grant from John Lyon’s Charity, we were able to offer all three of our projects in this year - 3D visual art project, the Cabinet of Curiosities, our poetry project, the Art of Dispute, and our immersive drama Tudor Project, Mad, Bad and Dangerous to Know: the Tudors. Each project ran for 6 weeks and in total we ran 54 creative sessions with 166 young people from 9 different classes across 3 schools and worked with 7 different professional artists.
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The projects are designed to excite and interest young people, build their confidence and creativity and expand their learning through using multiple teaching methods. They enhance the curriculum and encourage talented pupils to go beyond their usual creative boundaries whilst supporting those who may face more challenges by adapting to how they learn.
The participants in Cabinet of Curiosity showcased their artwork in the galleries in the House and outside in the Park during the Highgate Festival. This is a special opportunity to exhibit in a public space and the attendance of Mayor at the private view reinforced the significance of the project.
The Parliament Hill Art Team Leader commented, ‘This project is of particular value for students who may be classed as disadvantaged as they may not have opportunities to work with clay/bronze outside school.’
Teachers enjoy how it helps young people work 'like a practising artist exploring different ways to record ideas and test materials…in a different creative way and think outside the box’.
And it is ‘ fun’ , which was a word regularly used in the feedback forms - ‘ it was something I’ve never done before and I had fun while I was doing it ’. The vast majority of participants also wished ‘it had been longer’ showing how much they enjoyed it. The project connects the young people with the Waterlow Park, using as its starting point our former resident James Yates, who was a Victorian collector of exotic plants.
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The Art of Dispute is inspired by former resident and Quaker William Meade whose trial with William Penn established the principles of the independence of the jury and habeas corpus. Students are always fired up by discussions around freedoms that are relevant to them, and the poetry books produced by the projects are very enlightening. Bringing nationally recognised poets, such as Deanna Rodgers, into the classroom makes an enormous difference. Performing in the Lauderdale House Gallery with stage lights and an audience of fellow class members can be daunting but Deanna’s support makes it an enjoyable challenge,
‘ my favourite part was performing as I am not very confident but I tried to give it ago and enjoyed it.’ La Sainte Union pupil.
Mad, Bad and Dangerous to Know: the Tudors creates cultural capital for young people before they start to study the Tudors. It’s a lively and creative introduction to the Tudor world through drama, dance, beatboxing, spoken word and fashion design, including dressing up in costumes kindly loaned by Cosprop. Our evaluation consistently shows that young people retain far more information by learning in this fun way as opposed to a formal classroom lesson. At the start of the project 76% of the students knew nothing about the Tudors – by the end 72% knew ‘ a lot ’.
By running the projects across multiple sessions and using the history of the house as a catalyst means young people finish the project with a much greater understanding of and familiarity with Lauderdale House.
Mad, Bad & Dangerous costume designer, Kim Chin said, ‘ The building, architecture and gardens helps transport the students’ imagination and creativity into character play. The House’s history also introduces the complexity of power and politics that exists in society today .’
Across all projects, at the start 79% of participants ‘knew nothing’ about the House but by the end 82% had good or great knowledge.
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## Other Outreach Projects with Young People
Our primary school work increased this year and resulted in us working with 418 children from 13 classes across 12 local schools. We hosted a number of visits in response to direct requests. We also repeated our Museum Takeover Day project on 17 November when 80 Brookfield primary school pupils ‘took over’ Lauderdale House for this national event on 17 November, looking after everything from welcoming visitors to a prolific social media takeover. They also made exhibition pieces to display, including Tudor feasts, spinning tops, and a Blitz skyline.
We were also commissioned to develop a new project celebrating Earth Day called Down to Earth with 2 schools, which ran well alongside a separate Earth Day celebration funded by the ‘Wild Escape’ Art Fund. This comprised as a number of free sold-out workshops and the publication of The Wonders of Waterlow Park, an activity and colouring in book which we now have for free distribution to anyone who comes here
An important ongoing part of our outreach since 2018, run in partnership with Camden Youth Services, is the Fresh Youth Collective; young people, aged 13 to 19 and largely from the local estates meet here weekly to enjoy and try out different creative activities in a safe space where they can also socialise. They are a diverse group, and although numbers are relatively low, the young people clearly value it as is demonstrated by the fact they keep returning. We tailor the sessions to the individuals, for the greatest impact, and over the year the programme included sessions with artists, musicians,
photographers and bookbinders as well as
trips to local sites including Highgate Cemetery, and a fun Summer activity programme, culminating in a celebratory BBQ.
## Social Events and Hires
During 2023/24 we hosted 154 celebrations (weddings, parties and memorials), 39 meetings and 33 concerts alongside our own programme, classes, rehearsals and other activities.
By hiring the House for special celebrations people build long-term relationships with us and return to enjoy arts activities and the café. This creates a valuable community base and ensures that our galleries remain lively and vibrant.
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A highlight was in May when we hosted a tea party for supporters of the Holocaust Memorial day Trust to mark the coronation of King Charles III, attended by survivors and refugees from other countries alongside the Duke of Gloucester (late Queen’s cousin), Robert Voss (Lord Lieutenant of Hertfordshire) and Roxanne Zand (Deputy Lieutenant for Camden).
‘Thanks so much for everything. It was a beautiful ceremony and the party went extremely well…we hope to have the first anniversary party, hopefully at Lauderdale House. I had many comments about how magnificent the venue was and questions about how we found it!’ Renato and David’s wedding
‘Thank you for all your help with my wife’s celebration of life last Saturday. It was a beautiful ceremony and my family and friends were able to grieve together. You and all the staff have really helped me throughout this painful time and I am so grateful that I was able to honour my wife’s life in such a beautiful way Thank you’ memorial
## Café and Catering
Our catering partner, Pink Food, more than meet the challenge of operating a friendly café which is open every day and, at the same time, delivering top quality catering for the many weddings and parties at the House. This combination reinforces a sense of community whilst bringing in essential income.
‘ Every dish was exquisite in taste and presentation. Our guests, even those who are sometimes difficult to please regarding food, were full of praise for the delicious meal and canapes you and your team prepared ’ Irene and Revantha.
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‘ I’m writing to thank both Lauderdale House and Pink Food for making our golden wedding party yesterday such a memorable occasion. Everything went perfectly. The set-up went smoothly - all our requests had been taken note of and everything was ready. The guests were welcomed warmly and the event was run smoothly. The food was delicious and the service friendly, prompt and unobtrusive. Many guests commented how well run the whole event was and how very delicious the food was. All in all it was the perfect way to celebrate our many years together. Thank you all so very much .’ Kathy and Trevor
## Fundraising
Our legacy has been referenced elsewhere and the organisation owes a real debt of gratitude to our benefactor and his executors.
Our other fundraising concentrated on larger grants to support our education programme. A third significant grant from John Lyon’s Charity for our poetry, art and drama secondary school projects was a much appreciated, endorsement of previous years’ success and a wonderful opportunity for us to help inspire young people. It also included a vital contribution towards the role of our Education & Outreach officer recognising the significant time invested to ensure these programmes realise their full impact.
We are also grateful to the donation from The Arts Society Hampstead Heath which supported free workshops at the Heritage Weekend, the Wild Escape Art Fund which resulted in our Wonders of Waterlow Park activity book, and for our fourth £10,000 donation from our anonymous benefactor towards the education and outreach programme which has a real impact on the lives of individuals.
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## Staffing
After a year of staff changes in 2022/23 when people moved on to develop their careers, our new team members settled in well taking on the complexities of Lauderdale House very quickly. Thanks to this we have been able to develop our creative programme this year with new initiatives such as the Nowruz (Persian New Year) Festival, additional life drawing classes and plans to extend the free family programme for 2024/25, alongside exceeding hire income targets.
Together they bring a wide range of skills, talents and experience which is essential to ensure the success of our diverse and wide-ranging programme. Support from an invaluable team of freelancers comprising artists, teachers and event stewards provides additional depth and capacity.
A staff ‘highlight’ was when we handed over the art galleries in September to our Operations Manager Peter Gallagher, regular schools artist Alison Lam and new watercolour tutor Wilson So to exhibit their own work.
## Volunteers
Volunteers are vital, not only for their practical support, but also for keeping the organisation fresh, bringing new ideas and a range of views. Our volunteer team includes retired people, some of whom have been with us for almost 20 years, people wanting to be active following serious illness, school work experience and people seeking to develop their careers. Although they often help out on different days they enjoy each other’s company and come together for ‘all hands on deck’ events such as the Halloween Spooky Walk, Santa’s Grotto and our outdoor performances as well as the New Year Party.
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‘I didn't manage 2 speak with everyone at the party but enjoyed myself enormously. All your staff are so friendly – a great tribute to you. Thanks for inviting us oldies - we love being part of Lauderdale. Bestest, M xx’
‘Throughout my time volunteering at Lauderdale House I have been able to develop my ability in a range of key skills and gain confidence in these abilities. The most significant change, however, was the insight into the personal side of heritage organisations which involves the local community. Everything I have learnt will stand me in good stead for my future academic and professional career. ‘ PC student placement
## Risk Management
The Council of Management actively reviews the major risks which the charity faces, and it monitors what controls are in place for its key financial systems, on a regular basis. The Council also reviews the charity's annual provision policy, to ensure reserves provide sufficient resources in the event of adverse conditions. The Council of Management is particularly aware of the impact of the cost of living crisis and high rates of inflation may have on earned income.
The Council of Management has also examined other operational and business risks faced by the charity and confirms that it has established systems to mitigate the significant risks. Since the pandemic the importance of maintaining a healthy safe environment for visitors and staff has been an even higher priority. All major policies such as Safeguarding, Child Protection and Health & Safety are reviewed annually and approved by the Board.
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## Reserves & Designated Funds
Our reserve policy is reviewed annually in the light of actual risks, potential costs and guidance from the Charity Commission. The legacy obviously means that at this stage we can cover the vast majority of risks given that at the end of 2023/24 we have £2,552,761 unrestricted reserve, including legacy funds.
In previous years we have designated the funds in the unrestricted reserve between (i) ‘building repair’ funds and (ii) the ‘business reserve’ which covers our key risk areas – hire income, ticket sales, café income, unexpected building repairs, support of the outreach and education programme ‘in between’ grants and cashflow. This also takes into account the 6 months’ turnover figure, recommended by the majority of charity and government funders
In the light of the legacy, which we received in March 2024 at the end of the financial year, we are developing a plan which will use these funds to ensure that in 50 years’ time we will still be delivering an extensive arts, education and heritage programme from a well-maintained, well-functioning and sustainable historic house, which is a community heritage asset in itself.
Although the legacy is significant it brings a high level of responsibility and we are aware that it will quickly dissipate without thorough and careful planning.
The key factors which our plan will take into account are:
- That external fundraising will always be necessary to deliver a vision which sets the organisation up in a strong position in 50 years’ time, as the margin between hire and ticket income and the costs of (a) running the programme and (b) ensuring day-to-day running of our historical building, is very tight.
- That it is nearly 10 years since the refurbishment so we will need to increase our Building Repair Fund 1 for ‘smaller’ repairs and inspection and maintenance which needs to take place every 3 to 5 years. These repairs range from new taps in the toilets to re-sanding floors, and also include provision for electrics, guttering, drainage, ventilation, heating, plumbing etc plus ongoing internal redecoration which is required to maintain competitiveness in the private hire market.
- That we will need to increase the Building Repair Fund 2 which relates to more major repairs as we anticipate the following spending over the next 24 months:
- External redecoration of the whole house (potentially £250,000)
- Major works to the cellar to bring it into line with environmental health regulations for use for storage of food, drink and catering equipment which is essential to support and maximise hire income (potentially £150,000)
- Improving sustainability (potentially £75,000)
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Lauderdale House Society Limited (Limited by Guarantee)
- That we need a full review of our Maintenance Plan and the desirable levels of the building repairs funds in the future
- That the advice from the Charity Commission and major funders is that organisations like us should have 6 months’ turnover in their ‘business’ reserve
- That we will invest in a new fundraising post with a realistic timeline and targets which acknowledges the time it takes to build relationships before realising significant rewards.
- That the funds create a bedrock on which the organisation can extend it charitable impact through seeking additional project grants and making the most of new opportunities.
In the light of these factors, and whilst we refine the long-term business plan, the Council of Management has designated the following funds:
- Building Repair Fund 1 - £35,000
- Building Repair Fund 2 - £575,000
- ‘Business’ Fund - £320,000 ie 6 months anticipated turnover 2024/25
- Legacy Fund - £1,622,761 on deposit pending finalisation of long term business plan and instructions for a balance of capital growth and income.
Of the £134,351 restricted reserve funds, £80,750 relates to the final apportionment of the capital element of Lauderdale Transformed referred to in note 12. It also includes funds to support our Secondary schools programme and other project work which will take place in 2024/25.
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Lauderdale House Society Limited (Limited by Guarantee)
## Going Concern Statement
The Council of Management is able to confirm that the company remains a going concern, able to continue for a minimum of 12 months from the date of signing of these reports, based on the fact that at the time of preparing these accounts:
- The available Reserves cover the company’s future commitments and responsibilities
- The business plan is based on reasonable and achievable assumptions taking into account previous experience and the economic climate.
## Management Costs
Details of activities are outlined in the Annual Report and the specific support costs are itemised in the accounts. The methods and principles for the allocation and apportionment of costs between categories of expenditure are itemised in the Income and Expenditure.
## Financial Reporting
A Resolution will be proposed at the forthcoming Annual General Meeting that Warner Wilde Limited be reappointed as accountants and Independent Examiners to the Charitable Company for the following year.
## Statement of the Council of Management's Responsibilities
Company law requires the Council of Management, as directors of the Company, to prepare financial statements for each year, which give a true and fair view of the state of affairs of the Charity at the end of the financial year and of its surplus or deficit for that period. In preparing those financial statements, the Council is required to:
- Select suitable accounting policies and apply them consistently
- Make judgments and estimates that are reasonable and prudent to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate
The Council of Management is responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
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Lauderdale House Society Limited (Limited by Guarantee)
The Council of Management considers the Charity Commission’s guidance on public benefit, including the guidance ‘Public Benefit: Running A Charity (PB2)’ when reviewing the aims and objectives of the charity and planning future activities.
## Structure
Lauderdale House Society is a registered company limited by guarantee. The directors are the trustees of the company, elected by the members at the Annual General Meeting with one third retiring by rotation (who may stand for re-election) each year. Between Annual General Meetings trustees may be appointed by the existing Board and their appointment ratified by the Members at the next Annual General Meeting.
The Board of Trustees is called the Council of Management and usually meets 5 to 6 times per year. During 2021/22 the Council met formally on 8 occasions with email updates and correspondence in the interim to ensure speedy response to the change in circumstances as we emerged from the pandemic. The Council takes all the major decisions and reviews and approves all operating policies including finance, safeguarding, GDPR, risk management, health and safety and equality, diversity and inclusion. It employs a Director to run the House and the Director is responsible for hiring and managing other staff, and is accountable to the Council of Management.
The Council of Management has pleasure in submitting its Report and Financial Statements for the year ending 31 March 2024 to the Members of the Lauderdale House Society.
Signed on behalf of the Council of Management
Roger Freeman (Jan 31, 2025 12:44 GMT) ………………………………..……………………………….………………………………………………………. Roger Freeman, Trustee
31/01/2025 On:…………………………………………………………………………………………………………………
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Lauderdale House Society Limited (Limited by Guarantee)
## INDEPENDENT AUDITOR'S REPORT
## TO THE TRUSTEES OF LAUDERDALE HOUSE SOCIETY LIMITED
## Opinion
We have audited the financial statements of Lauderdale House Society Limited Ltd (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## Other Information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
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Lauderdale House Society Limited (Limited by Guarantee)
## INDEPENDENT AUDITOR'S REPORT
## TO THE TRUSTEES OF LAUDERDALE HOUSE SOCIETY LIMITED (cont’d)
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
## We have nothing to report in this regard.
## Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## Responsibilities of Trustees
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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.
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Lauderdale House Society Limited (Limited by Guarantee)
## INDEPENDENT AUDITOR'S REPORT
## TO THE TRUSTEES OF LAUDERDALE HOUSE SOCIETY LIMITED (cont’d)
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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
The Extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our knowledge and experience of the charity and sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, the Charities Act 2011, Companies Act 2006, taxation legislation, data protection, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- testing controls with walk through procedures and substantive transaction testing;
- To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
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Lauderdale House Society Limited (Limited by Guarantee)
## INDEPENDENT AUDITOR'S REPORT
## TO THE TRUSTEES OF LAUDERDALE HOUSE SOCIETY LIMITED (cont’d)
- assessed whether judgements and assumptions made in determining any accounting estimates were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions; and
- In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing correspondence with HMRC and relevant regulators such as the Charity Commission
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
FJ Wilde FCCA DChA (Senior Statutory Auditor)
………………………………………………………………………………………………………
For and on behalf of Warner Wilde Limited
4 Marigold Drive, Bisley, Surrey GU24 9SF Statutory Auditor
## 31/01/2025
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Lauderdale House Society Limited (Limited by Guarantee)
## Lauderdale House Society limited Statement of Financial Activities (incorporating an income and expenditure account)
## For the year ended 31 March 2024
||Note|Restricted|Unrestricted|Total 23/24|Total 22/23|
|---|---|---|---|---|---|
|||||||
|INCOMING RESOURCES||||||
|Activities in furtherance of the charities objects||||||
|||||||
|Art & education|2|49,654|2,143,237|2,192,891|191,992|
|Preservation Maintenance Building||0|0|0|0|
|Recreation, Leisure & Community|3|0|347,856|347,856|434,545|
|Total incoming Resources||49,654|2,491,093|2,540,747|626,537|
|||||||
|RESOURCES EXPENDED||||||
|Charitable expenditure|4|||||
|Art & education||55,817|156,531|212,348|217,369|
|Preservation Maintenance Building||62,473|92,912|155,385|94,903|
|Recreation, Leisure & Community||0|158,178|158,178|168,094|
|Governance||0|24,336|24,336|10,096|
|Total Resources Expended||118,290|431,957|550,247|490,462|
|||||||
|Net Income|5|-68,636|2,059,136|1,990,500|136,075|
|||||||
|Transfer between funds|12|0|0|0|0|
|||||||
|Net movement in funds for the year||-68,636|2,059,136|1,990,500|136,075|
|||||||
|Total funds brought forward 1/4/23||202,987|493,625|696,612|511,848|
|||||||
|Total funds carried forward 31/3/24|12|134,351|2,552,761|2,687,112|647,923|
|||||||
|All of the above results are derived from continuing activities. There are no other recognised gains or losses other
than those stated above. Movement in funds is disclosed in Note 12 to the financial statements.||||||
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Lauderdale House Society Limited (Limited by Guarantee)
## Balance Sheet as at 31 March 2024
||Note|Restricted|Unrestricted|Total 23/24|Total 22/23|
|---|---|---|---|---|---|
|Fixed Assets||||||
|Tangible Fixed Assets|8|0|0|0|49,276|
|||||||
|Current Assets||||||
|Stocks||0|250|250|250|
|Debtors|9|0|108,564|108,564|80,128|
|Bank & Cash|10|134,351|2,714,169|2,848,520|769,677|
|||134,351|2,822,983|2,957,334|850,055|
|Liabilities||||||
|||||||
|Creditors: Amount falling due within one year|11|0|270,222|270,222|202,719|
|Net current assets||134,351|2,552,761|2,687,112|647,336|
|Net Assets||134,351|2,552,761|2,687,112|696,612|
|||||||
|Funds||||||
|Revaluation reserve||0|0|0|48,716|
|Restricted funds|12|134,351|0|134,351|154,271|
|Unrestricted||0|2,552,761|2,552,761|493,625|
|Total funds|13|134,351|2,552,761|2,687,112|696,612|
|||||||
|The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 July 2024, although an audit has been carried out under section 144 of the Charities Act 2011.||||||
|The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with
respect to accounting records and the preparation of financial statements.||||||
|The members have not required the company to obtain an audit of its financial statements under the requirements of the
Companies Act 2006, for the year in question in accordance with section 476.||||||
|These financial statements have been prepared in accordance with the provisions applicable to companies subject to the
small companies regime.||||||
|||||||
Roger Freeman (Jan 31, 2025 12:44 GMT)
The financial statements were approved by the Trustees on …………………….…………………………………………………………………
## 31/01/2025
………………………………………………………………………………………………
## Roger Freeman, Trustee
Registered Number 1352278
Charity Number 275502
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Lauderdale House Society Limited (Limited by Guarantee)
## Statement of Cashflows
**----- Start of picture text -----**
Note 2023/24 2022/23
Cash flows from operating activities £ £
Cash generated from/(absorbed by) operations 16 2,078,843 121,568
Net cash generated from/(used in) investing activities 0 0
Net cash generated from/(used in) financing activities 0 0
Net increase/(decrease) in cash and cash equivalent 2,078,843 121,568
Cash and cash equivalents at beginning of period 769,677 648,109
Cash and cash equivalents at end of period 2,848,520 769,677
**----- End of picture text -----**
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Lauderdale House Society Limited (Limited by Guarantee)
## Notes to the Financial Statements
## 1. Accounting Policies
## Accounting Convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Interest is included when receivable by the charity.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Lauderdale House Society Limited (Limited by Guarantee)
## Expenditure
A liability is recognised when either a constructive or legal obligation is identified. Basic financial liabilities are recognised at transaction cost, inclusive of any VAT which cannot be recovered.
## Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
- Leasehold Property: 25 years
- Office equipment: 3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## Stocks
Stocks are stated at the lower of cost and net realisable value.
## Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously
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Lauderdale House Society Limited (Limited by Guarantee)
## Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## Employee benefits
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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Lauderdale House Society Limited (Limited by Guarantee)
## 2. Incoming Resources: Arts & Education
**----- Start of picture text -----**
INCOMING RESOURCES
Grants:
Art Fund (Earth Day) 1,604 0 1,604 1,332
NHLF Emergency Covid Grant 0 0 0 0
DCMS Cultural Recovery Fund 0 0 0 5,390
FRESH (Young Camden Foundation) 500 0 500 0
FRESH (Arts Society) 250 0 250 250
Warm Space (CIL) 0 0 0 2,250
Arts Council Garden for the Gardenless 0 0 0 17,827
London Borough of Camden Placement Scheme 0 0 0 7,745
Anonymous 10,000 0 10,000 10,000
Lady Gould 0 0 0 780
John Lyon’s Charity 37,300 0 37,300 32,000
Other:
Lettings (concert,exhibitions and classes) 0 70,227 70,227 63,814
Activities (performances, classes and events) 0 62,968 62,968 40,505
Friends & Donations 0 2,010,042 2,010,042 10,099
49,654 2,143,237 2,192,891 191,992
**----- End of picture text -----**
## 3. Incoming Resources: Preservation & Maintenance of the House
**----- Start of picture text -----**
Restricted Unrestricted Total 23/24 Total 22/23
INCOMING RESOURCES
Recreation, Leisure and Community 0 347,856 347,856 434,545
0 347,856 347,856 434,545
**----- End of picture text -----**
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Lauderdale House Society Limited (Limited by Guarantee)
## 4. Resources Expended
**----- Start of picture text -----**
Art House Community Governance Total 23/24 Total 22/23
Expenditure
Lettings 20,041 0 35,047 0 55,088 51,715
Activities 36,427 0 0 0 36,427 33,730
Special Costs covered by drawdowns 33,795 0 41 0 33,836 50,643
Staff Costs 70,886 44,697 74,807 5,841 196,231 232,134
Gas & Electricity 0 40,085 0 0 40,085 37,451
Repair & Maintenance 21,312 15,462 23,592 0 60,366 53,300
Stationery & Photocopying 1,850 0 1,850 0 3,700 2,877
Marketing 5,436 0 6,970 0 12,406 9,766
Communications 4,318 0 4,318 0 8,636 9,090
Other Costs 18,283 5,865 11,553 18,495 54,196 9,475
Depreciation & Amortisation 0 49,276 0 0 49,276 281
Total Resources Expended 212,348 155,385 158,178 24,336 550,247 490,462
Unrestricted 156,531 92,912 158,178 24,336 431,957
Restricted 55,817 62,473 0 0 118,290
212,348 155,385 158,178 24,336 550,247
**----- End of picture text -----**
## 5. Net (Outgoing) / Incoming Resources before Gains & Transfers
**----- Start of picture text -----**
2023/24 2022/23
This is stated after charging £ £
Depreciation 281 281
Auditors remuneration 12,000 -
12,281 281
**----- End of picture text -----**
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Lauderdale House Society Limited (Limited by Guarantee)
## 6. Staff Costs & Numbers
**----- Start of picture text -----**
Staff costs were as follows: 2023/24 2022/23
Wages & salaries 172,945 202,382
Pension costs 6,535 10,596
Social security costs 16,750 19,156
196,230 232,134
The average number of persons employed by the Society during the year was 7 (2023: 6)
There were no employees whose annual remuneration was over £60,000.
Remuneration of Key Management Personnel
The remuneration of key management personnel was as follows: £56,896.00
Key management personnel is defined as the proportion of salaries relating to the Senior Leadership
Team element of any role.
**----- End of picture text -----**
## 7. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## 8. Tangible Fixed Assets
|8. Tangible Fixed Assets||||||
|---|---|---|---|---|---|
||Leasehold|||||
||Property||Equipment||Total|
||£||£||£|
|Cost or valuation||||||
|At 1 April 2023|55,736||42,598||98,334|
|Revaluation|0||0||0|
|Additions during the year|0||0||0|
|Disposals|-55,736||0||-55,736|
|At 31 March 2024|0||42,598||42,598|
|||||||
|Depreciation||||||
|At 1 April 2023|6,460||42,598||49,058|
|Charge for Year|281||0||281|
|Disposals|-6,741||0||-6,741|
|At 31 March 2024|0||42,598||42,598|
|||||||
|Net Book Value||||||
|At 31 March 2024|0|**|0|*|0|
|At 31 March 2023|49,276||0||49,276|
39
Lauderdale House Society Limited (Limited by Guarantee)
All tangible fixed assets are used for charitable purposes. There were no capital commitments contracted for as at 31 March 2024. (2023 - £nil).
An impairment review of the leasehold property asset was carried out during the accounting period.
The value related to a historic revaluation which had created a revaluation reserve, the lease is not formalised and does not give the occupier the right to dispose of the lease to a third party. It is therefore not considered to have a fair value. The charity has assumed responsibility for day to day maintenance of the building while in occupation and the estimated net present value of the excess of rental income over maintenance expenditure does not support the retention of the revalued carrying value.
## 9. Debtors
**----- Start of picture text -----**
2023/24 2022/23
Sales Ledger 107,848 79,104
Prepayments 716 1,024
Sundry Debtors 0 0
108,564 80,128
**----- End of picture text -----**
## 10. Bank and Cash
**----- Start of picture text -----**
2023/24 2022/23
Lloyds Business Account 82,482 217,284
Lloyds Business Bank Instant Account 153,585 482,201
COIF 2,611,791 69,530
Petty cash 662 662
Total cash 2,848,520 769,677
Restricted 134,351
Unrestricted 2,714,169
2,848,520
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Lauderdale House Society Limited (Limited by Guarantee)
## 11. Creditors: amount falling due within one year
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2023/24 2022/23
*
Sales prepayments 23/24 213,098 125,832
Purchases & Sundry 41,633 45,879
Accruals 12,398 2,340
NI/PAYE 3,093 28,668
270,222 202,719
* Sales prepayments are the receipts for lettings paid in the current year for events that
fall in the future year.
Deferred income is included in the financial statements as follows:
2023/24 2022/23
Current liabilities 213,098 125,832
Movements in the year:
Deferred income at 01/04/2023 125,832 208,161
Released from previous periods -118,687 -208,161
Resources deferred in the year 205,953 125,832
Deferred income at 29/03/2024 213,098 125,832
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Lauderdale House Society Limited (Limited by Guarantee)
## 12. Restricted Funds
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Unspent Closing
Incoming Outgoing
Grants Position
Resources Resources
01/04/2023 31/03/2024
Restricted Funds
Grants For Projects Other Than Lauderdale Transformed and Fresh
John Lyon’s Charity (Artists Added Value) 22,228 37,300 46,954 12,574
Sigrid Rausing 1,449 0 0 1,449
DCMS Cultural Recovery Fund 9,789 0 0 9,789
Art Fund (Earth Day) 1,332 1,604 2,936 0
Warm Space (CIL) 358 0 358 0
Arts Council Garden for the Gardenless 8,827 0 3,650 5,177
Anonymous 10,000 10,000 0 20,000
Subtotal 53,983 48,904 53,898 48,989
Grants For Fresh
Micellaneous 3,501 0 1,919 1,582
Lady Gould (Fresh) 780 0 0 780
Arts Society (Fresh) 250 250 0 500
Camden Council 0 500 0 500
Subtotal 4,531 750 1,919 3,362
Grants For Lauderdale Transformed
(Capital/Education)
City Bridge Trust 50,000 0 0 50,000
LT Restricted 44,507 0 13,757 30,750
Chapman Charitable Trust (Induction Loop) 1,000 0 0 1,000
Company of Art Scholars 250 0 0 250
Subtotal 95,757 0 13,757 82,000
Revaluation Reserve 48,716 0 48,716 0
GRAND TOTAL RESTRICTED 202,987 49,654 118,290 134,351
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Lauderdale Transformed - A major combined capital and outreach programme which has been funded by a combination of grants from charitable trusts, the Heritage Lottery Fund, Camden Council, events and individual giving. It ran as a partnership between Lauderdale House Society and Camden Council. Grants from charitable trusts and donations from individuals were paid directly to Lauderdale House and are detailed above. Lauderdale House paid the costs of the outreach programme, some small internal improvements, heritage interpretation and also the costs of keeping the organisation going during the closure of the building. Camden Council received the funds directly from the Lottery Heritage Fund as the building contract was placed with Camden Council which paid those costs. Lauderdale House Society occupies the building on the basis of a lease agreement which was a condition of the National Lottery Heritage Fund grant of £1.2million at the time of the 2016/17 refurbishment and
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Lauderdale House Society Limited (Limited by Guarantee)
works in partnership with the Council in relation to ongoing repair and maintenance and major works. Respective responsibilities are being reviewed and when complete a final apportionment will be agreed.
Fresh - Funding for Fresh Youth Collective practitioners and refreshments.
John Lyon’s Charity - Artists Added Value, for secondary school projects (art, poetry, drama/heritage). Sigrid Rausing - secondary school poetry project
DCMS Cultural Recovery Fund - reserve funds for schools programme
Arts Council Garden for the Gardenless - Funding for arts activities in the park. Anonymous - education programme funding.
Revaluation Reserve – see Note 8
## 13. Analysis of net assets between funds
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Unrestricted Restricted
Total
Funds Funds
At 29 March 2024:
Tangible Assets 0 0 0
Current assets/(liabilities) 2,552,761 134,351 2,687,112
2,552,761 134,351 2,687,112
Unrestricted Restricted
Total
Funds Funds
At 31 March 2023:
Tangible Assets 0 48,716 48,716
Current assets/(liabilities) 493,625 154,271 647,896
493,625 202,987 696,612
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## 14. Related Party Transactions
There were no disclosable related party transactions during the year.
## 15. Trustees
None of the council of management members received any emoluments or reimbursement for their expenses during the year (2023 - £nil).
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Lauderdale House Society Limited (Limited by Guarantee)
## 16. Cash generated from operations
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2023/24 2022/23
£ £
Surplus for the year 1,990,500 136,075
Adjustments for:
Depreciation and impairment of tangible fixed assets 49,276 281
Movements in working capital:
Decrease/(increase) in debtors -28,436 46,945
(Decrease) in creditors 67,503 -61,733
Cash generated from/(absorbed by) operations 2,078,843 121,568
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