TUCKERS HALL EXETER UMITED ILirnited by Guarantee) uNAuDED FINANCIAL STATEMENTS Y•ar Ended 31 March 2024 CHARrrY NUMBER 0291764 COMPANY NUMBER 01885692
TUCKERS HALL EXETER UMITED YEAR ENDED 31 MARCH 2024 CONTENTS Page Legal and Administrative Information Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Staiements 9-15
TUCKERS HALL EXETEA UMrrED LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES N Hole (appointed 12 September 20241 HR Parkin Ire$igngd 12 September 20241 IT Gardner N Sprague R Marsh J Brook88 SECREfARY & CLERK R Thomas Iregign8d 31 May 20241 R Whitson lappoint•d 31 May 20241 REGISTERED OFFICE Tuckers Hall 140 For6 Street Exeter Devon EX4 3AN INDEPENDENT EXAMINER C Dymond FCCA, ACA. CTA Bush & Co Limited 2 Barnfield Crescont Exeter EXI 1aT BANKERS Lloyd$ Bank PIC High Street Exeler soucrroRS Mich81mores LLP Woodwater House nes Hill Exeter EX2 5WR
TUCKERS HALL EXFtER UMfTEO TRUSTEES. REPORT YEAR ENDED 31 MARCH 2024 GOVERNANCE This report also serves as 8 directors. report as required by company law. The Company was incorporated in England and Wales on 13 February 1985 and is limited bv guarantee under Company number 1885692. It is a registered Charity under number 0291764 and is governed by its Memorandum and Articles of Association. The di¥e¢tors of ihe charitable company I'the Charity'l are its trustees for the purpose of Charity Law and ihroughout ihis report are collectively referred to as ihe truslees. Truslees are appointed by the members of the chariiable company attending the Annual General Meeting. Each year one third of the trustees retire from office but are eligible for re-&lelOn. The number of trustees shall noi be less than 5 nor more than 7. The five Trusiees delegate decisions to an Executive Committee ol the Incorporation of Weavers Fullers & Shearmen who are appointed annually. All administration functions are carried out by the Clerk. The Trustees are appointed from The Court of Assistants who consist of prominent local business people who became Assistants by invitation and are provided with a full history of the Charity, its objectives and management pr0dUreS. PUBUC BENEFIT STATEMENT The Truwees have revrewed the outcomes and achievements of our objectyves and activities for the year. to ensure ihey remain focused on our charitable aims. and continue to dèliver benefits to the publi¢. We have complied with the duty under the Charilies 2011 10 have due regard to public benefit guidance published by ihe Commission. 0ErrS AND ACTIVThIES The main objects of the Charity are-. The maintenance and restoration of the medieval Hall known as Tuckers Hall of Exeter. Betterment of ihe facilities at the Hall to encourage wider access and to extend the educational role of the premises. Maintain the historieal links and connections with the City of Exeter including attending Civic Processions. Tuckers Hall represents a rare surviving building that can be identified with a trade that was of huge importance to Exeter and Devon. Tuckers Hall was built between 1472 and 1479 as a ¢hapel for the Guild of woollen cloth workers in Exeter. It is part of the story of the woollen cloth trade in Exeter, which made the city wealthy and centre for inlernational trade from the 1430s until the of the 18th cenlury. By 1700 Exeter was the third most important city outslde London. following Bristol and Norwieh this importance based on the woollen cloth trade. The Chapel was built on a plot of land gVen to the Guild. which developed the neighbouring properties uphill and downhill. The building has a fine wagon roof. li was converted into a hall for the Guild at the Reformation, to avoid its being confiscated. Guild meetings were probably held in the chapel from the outset.
TLICKERS HALL EXEfER LIMITED TRUSTEES, REPORT leontinuedl YEAR ENDED 31 MARCH 2024 After the Refomation the building was divided into Iwo 5toreys and the upper room was used for meetings of the Guild. This use has conlinued ever since and the Guild. known as "The In¢orporation of Weavers. Fullers and Shearmen" which survives in an adapted form. still uses the building for meetings today. The records of the organisation suNive. carefully catalogued and deposited in the Devon Record Office. They make significant contribution to the documentary history of the city of Exeter. In the 17ih century the upper room was refurbished with high-quality ornamental panelling. There was a school for the children of the Cloth-workers on the ground floor from the late 171h century until 1841. After the decline of the Exeier woollen cloth industry in the late 18th ceniury. membership of the Guild broadened in lerms of occupation and the organisation became one that dispensed funds from variou5 charities li administered. Many of the major figure5 in Exeter's hisiory held office in the Guild. The building was the cause of major concern in Ihe 19th cenlury and the front wall was rebuilt this was in Venetian Gothic style in 1875. In 1901 the upper room was thoroughly refurbished. including re-exposing the chapel roof. which had been largely concealed by plaster. A few years later a fine new staircase in a late 17th century style was installed. a good example of local craftsmanship of the period. In the latter half of the 20th century. looking after the building and its hiory has been the main preoccupation of the Guild. In 1968 the Guild commissioned Joyce Youings to write an academic publication on the history of the Guild and the building. This useful study painted a detailed and wide-ranging picture of the Guild and its members. FINANCIAL REVIEW Unrestricted income in total was £55.494 12023.. £40.8461 and ihis was used to cover the running costs of the hall and administration costs of £44,17412023-. £43.6811 excluding depreciation of £9.905 12023.. £13,1041. Couplgd with gainslldeficitsl on investments of £12.36812023.'1£7,56611, nel income for the year was £13.78312023'.1£23.50511. Restricted incom8 of £3.052 was received during ihe year. £1.772 of the restricted funds were used durbng the year. leaving £3,942 10 carry forward towards intem costs. ACHIEVEMENTS AND PERFORMANCE The renovation and development of Tuckers Hall has eontinued and its Interpretation Centre to attract visitors from all over the world. Recent works to the building include new railings to the front of the building, new internal glazed doors and screens. and new display boards and cases for weapons and armoury displays. The Cost of these works were partly funded by grants and the reseNes of the trust. The Hall has also acquired a wedding licence and it Is hoped that this will provide addilional income for the irust in future years.
TUCKERS HALL EXETER LIMITED TRUSTEES. REPORT lcontinuedl YEAR ENDED 31 MARCH 2024 Tuckers Hall Interpretation Centre Synopsi$ OBJECTIVES To display the origins. history and d8velopment of the Incorporation of Weavers, Fullers and Shearmen IIWFSI. To explain the features of Tuckers Hall and its use as a chapel. meeting place and a schoolroom. To put in eontext the significance of the cloth trade and its impact on the prosperity of Exeter. To establish a learning centre for schools and educalional PTojects- for individual students and ihe public. The Interpretation Centre occupies the Entrance Hall ond Lower Hall and will achieve the objectives An audiofvisual DVD presenlalion with subtitles and an induction loop,. with removable th8atre Siyle seating. Computer screens with tracker balls. inieraLtively displaying the history of the Hall. the Incorporation and the cloth irade. with links to other. associated historic sites in Exeter and the surrounding area. Graphic boards illustrating the chronology of the Incorporation and the Hall. Display cases with the OfFicers' Robes and associated artefacts. Tuckers Hall is an historic listed building which dates back to 1471. The timber '8arrel' Roof is original and a very special feature of the building. The Charity's policy on reserves is to maintain a sufficient level of resources in order to maintain Tuckers Hall and deal wilh unexpected expenditure on repairs and restoration that is often a feature of such old buildings. and to increase those reserves if possible. We aim lo hold unrestricted reseNes of approximately £100,000 to cover large one off repairs. Any excess reserves are invesled to provide returns that will cover general repairs lo Tuckers Hall should future donations not be sufficient. At the year end ioial reserves amounted to £434,941. Of this, £15,273 was held in tangible fixed assets. £264.666 in heritage assets, and £3.942 in reriCted funds. This leaves £151.060 of free reserves as at the year end12023= £147.8151. As well as the financial risk referred to above. the TnJjor Tisk to which ihe Charity is exposed is fire damage to the Hall. In order to reduce the risk the following preventative action has been taker¢'. Fire alarm connected to monitoring centre and fire seNice. Rewiring of part of electrical installation and regular testing of electrical system. Installation of burglar alarm system connected to call centre. Reviewing and increasing insurance cover. Forming property sub-committee to svpervise all matter5 relating to the building. This sub- committee is currently undertaking a full review of the condition of the building.
TLICKERS HALL EXEfER LIMrrED TRUSTEES. REPORT Icontinuedl YEAR ENDED 31 MARCH 2024 RELATED PAKnES The Charity has common Trustees with weave Fullers and Shearrnen Charities Limited. Both charities were set up by the Incorporation of Tuckers Hall. STATEMENT OF TRUSTEES RESPONS181UTIES Company law requires the trustees to prepare financFal staiements for each financial year which show a true and fair view of the state of affairs of the Charity and its financial activilies for that pgriod. In preparing those financial atementS. the trustees are required io- select suitable accounting policies and then apply them consistently.. make judgements and estimates that are reasonable and prudent: stale whether applicable accounting standards and siatements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements: and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the Charity will continue in operation 8XlStence. The trustees a responsible for keeping proper accounting records which diselose with reasonable accuracy ai any time the financial position of the Charity and to enable them to ensure ihat the financial statemenis comply with the Companies Act 2006 and the Charities 2011. The trustees are also responsible for safeguarding the asseis of ihe Charity and hence for iaking reasonable steps for prevention and detection of fraud and oiher irregularities. STATUS OF REPORT This report. which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. was approved by the Board on 2.8.110/ 20.2+. and signed o s behalf. N Sprague IDirectorl R Mavsh (Director)
INDEPENDENf EXAMINERS REPORT TO THE TRUSTEES OF TUCKEAS HALL EXETER UMITED I report on the accounts of the Charity for the year eniled 37 March 2024, which 8re set out on pages 61011. Respectlve Responsibilities of Tmstees #Trd Examinei The trustees (who are also the directors of the ¢onipany for the purposes of company 18wl are responsible for the preg8ration of the accounts li accordance with the requlrements of the Companiès Aet 20061'the 2006 Act'l. Th6 chariiy's ITi Stees ctsnsid&r th81 an audit is not TequiTed for this year under Section 144121 of the Charities A¢t 2011 (the 201 l Actl and that an independent examinarion is needed. Having satisfied myseli that the Charity is not subjecT to 8udil under Part 16 of ihe 2006 Act and is eligihle lor an independerst examination li is my responsibililv to.. examine the accounts under seGtion 145 of thf. 2011 Act.. to follow the procedures 18id down in thB General Direaions given by the Charity Commission under section 1451511bl of the 2011 Act.. and to slate whether particular mait8r8 have come to my atteniion. Basls of Independent Examlner's Ileport My examination was carried out in accordance witTr. the General Directions giv8n by the Charity Commission. An examination include8 8 review of the 8c¢ouniing Tocord6 kept by the charity and comparison ol the accoltnts presented with thos8 r(Kords. IE also includes consideraiion of any Unusual itèms or disclosures sn the accounts. 8nd the $8eking of explanatlons from you as trustees con¢erning any such matters. Thè procedures undgrtaken do not provid8 all Ihe evidence th¥t WOLII(I b8 required in an audit and. consequently. nc opinion is given as to ¥¥hether the accounts pr&s&ni a 'irue and lair view" and the report 15 limi'.f>d to Ihose matters sei out in the 5¢8tpment belnw. Independent Ex8mln8r's Statern• In connectton wilh my ex8min8tion. no matter has come to my attention.. which gives me reasonable cause io believe tbai. in any material respect. the requirements to keep accounting rOrdS in 8ecordance with section 386 of the Companies Act 2006,. and bl to prepare accounts which accord wilh the accounting records. comply with the accounting requirements of seciion 346 thè Companies Act and with methods and principles of ihe Statement ol Recomr)ended Practice Accouniiny and Reporting bv Charilie have not been met or to whi¢h. in my opinion. attention should be drawn in order to enable a proper undersianding of the accounts to be reached. si /iolZOZItr C Dymond FCCA, ACA CTA Bush & Co Limited Chartered A¢couTrtBnts 2 Barnfield Crescent Exeter EX1 IQT
TUCKERS HALL EXETER UMITED STATEMENT OF FINANCIAL AcnvmES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2024 2024- 2023 Tot•1 Unrestrf¢ied Fundl Not• Fund Fund Total INCOME FROM Donations and Lo9a¢i•s Gifts. donation5 and tax recovered Dividend income Grant income Covid grant income Interest income Charitablo Activitios.. Hire of hall 42.861 3.791 42.861 3.791 3.052 34.030 3,778 2.505 3,052 1.024 1.024 438 7.818 7.818 2,600 Total Income 55.494 3.052 58.546 43.351 EXPENDITURE ON Choritabl• Aetivitl•s- ProYl$ion of H•A.. Insurance Light and heat Rate5 and water General repairs Telephone Depreciation Sundry expense$ Support Costs.. F88s for Independent Examination Beadle's fee5 Clerk'5 fees and administrations assista Intern costs Legal end professional lees Advertising Postage and stationery Computer and website expenses 10.684 3.694 56 3,279 1,527 9,905 1.720 10,684 3.694 56 3,279 1,527 9.905 1.720 9.705 1.241 101 4.680 13.104 3.131 3.429 8.192 1.000 3.429 8.192 1.000 1.772 3.375 2.512 1.850 2,856 2,360 5,178 1.000 1.593 8.261 2.792 1.573 2,540 1,772 3.375 2,512 1.850 2M56 Totsl Expenditure 54.079 1.772 55,851 58,378 NET ILOSSESIIGAINS ON INVESTMENTS 12.368 12.368 17.5661 INCOMEIIEXPENDITUREI 13.783 1,280 15.063 122.5931 Transfers between funds 11.2801 1,280 NEf MOVEMENT IN FUNDS 12,368 2.560 15,118 122.5931 Reconcrliation of funds.. Total fund5 brought forward 433.560 1.382 434.942 457,534 FUND 8ALANCES CARIUED FORWARD 446.063 3.942 450,005 434.941 The notè$ on pagès 9 to 14 form part of these financial statements.
TUCKERS HALL EXETER UMITED IREGISTERED NUMBER: 18856921 BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 FIXED ASSETS Tangible assets Heritaoe assets Investments 15.273 264,666 141,680 17,797 269.329 129.312 421,619 416.438 CURRENT ASSETS Dobtor$ Depo8lt account Ce$h in bank curreni aecount and In hand 19.475 21.039 10.129 18.107 21.038 4,647 43.792 CREDITORS.. Du6 Wlthin one year 22.257 25,289 NEf CUARENT ASSETS 28.386 18.503 NET ASSETS 450.C#)S 434.941 RESERVES Restricted funds Unre6tr¢cted funds io io 3.942 446,063 1.382 433.559 450,CQS 434,941 The company is entilled lo exemption from audit under ihe Charities Act 2011 •nd Saction 477 of the Companies Ad 2006for ihe year ended 31 March 2023 The members have not véquirèd ihe company to obtain On avdii of it$ financ¢al statements for the year ¥nd8d 31 March 2021 in accordance Wlth the Charities 2011 and Section 476 01 the Companies A 2006. The directors acknowledge their responsibilities for.. ensuring ihat the company keeps accounting record8 which comply with Sections 386 and 387 of the COMpan8S Aci 2006 and preparing financial statements which give a true and falr view of the $tatè of affairs of the ¢OrnP8ny as at the end of èach financial year and of its profit or lo$s for 8ach financial year in 8ccordanc6 with the requirements of Section5 W and 395 and which otherwise comply with thè Tequiremenls of the Companies Act 2(K)6 rèlaling to financial statements. so far a$ applicab18 to the company. bl The financial statements have been prepared in aOrdance with the provisions applicable to companies svbjeci to the small companies regimg. Thé financi signed b st ements were approved by the board ol trustees on 28 1101.ZOZItr..... and were N Sprague IDirectorl R Marsh (Director)
TUQ(ERS HALL EXETER LIMITED NOTES TO THE UNAUDITED HNANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES Accounting Convention The financial statemenis of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities= Siatement of Recommended Praciice applicable to charities preparing their accounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20151.. Section 1A -small Entities- of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Aepublic of Ireland. and ihe Compani8s Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. Financial Roporting Standard 102- reduced disclosure exemptions The charity has taken advantage of the exemption of the requirements of Section 7 Statements of Cash Flows in preparing these financial statements, as permitted by FRS 102 The Financial Rgporting Standard in the UK and Republie of Iroland, Going Convrn The financial statements have been prepared on a going coneern basis a$ there are no material uncèrtainties about the charity's abilily to continua operating. Rotognition of Incomè and Exp•ndltur• Income is included in ihe financial staiements when it is receSved except for don8tions under gift aid which are grossed up io include the income 18x recoverable 8nd the hire of the hall which 18 on an 8¢cNals basis. Expenditure is included on the accruals basis. Charitable activities comprise all costs incurred by ihe charity in ihe dellvery of its activities and Services for its benefici8ri8s. Governance costs include those cost9 associated with meeting the constilulional and staiutory requiremenis of the charity. Grants received relating to Covid support are recognised on receipt. D•prn¢l•tlon Depreci&iion is provided to write off ihe asse1$ over their estimated useful livo9 as follows.. L8nd Not depreciated Equipment 15% per annum reducing balance Exhibition equipment 33.33% per annum straight lino Computer and website 20 /0 per annum Stfaight line Herltage Assets Heritage assets are Slotod at cost and are depreciated at 2% per annum straight line. Investments Investments are stated at markei value at the balance sheet date and the gain or loss on revaluation 55 iaken to the Statement of Financial Activities. Debtors Debtors are included at the Settlement amount due. Cash at bank Cash at bank includes cash and shon term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
TUCKERS HALL EXETER UMITED NOTES TO THE UNAUDfTED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POUCIES Icontinuedl Creditors Creditors are recognised where the charity hBs a present obligation aris(ng from a past event that will probably result in the transfer of funds to a third party and the amount due to seltle the obligation can be measured or estimated reliably. Creditors are recognised at their settlemenl amount. Inlerest free loans have not been discounted as they have no set repayment date. Deferred Income Deferred in¢ome is recognised when hall hire Income 1$ received prior to the year-end but the hall hire occurs in the next financial period. Financial Instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlemerht value. Fund Accounting Funds held by the charity are either. Unrestricted General Funds These are funds which Can be usèd in accordance with the charitable objects at the discreiion of the irustees. Restri¢ted Funds These are funds thai can only be used for particu18r restricled purposes within the objects of the charily. Restrictions arise when specified by the donor or when funds are raised for particular purposes. TAXATION The charitable company is exempt from corporation tax on its charilable activities. AVERAGE EMPLOYEES & STAFF COSTS The average number of employees during the year was 012023.. 01. TRANSACTIONS WITH TRUSTEES No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known io be connected with any of ihem. No reimbursement of expenses has been made or is due to be made to any of the trusiees in respect of the year. There were no olher financial transactions made with trustees during the year.
TUCKERS HALL EXEfER UMrrED NOTES TO THE UNAUDrtED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 TANG18LE FIXED ASSETS Exhibition Computer Equipment & Website Equipment Total COST Ai 1 April 2023 Additions 71.139 118.640 3,853 193.632 At 31 March 2024 71.139 118.640 3.853 193,632 OEPRECIATION At 1 April 2023 Charge for the year 52,886 3.099 118,640 3,613 121 175,139 3,220 At 31 March 2024 55.985 118.640 3.734 178.359 NET BOOK VALUE At 31 March 2024 15.154 119 15,273 Al 31 March 2023 18.253 240 18,493
TUCKERS HALL EXETER UMfTED NOTES TO THE UNAUDfTED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 HERITAGE AsSs Freehold Property COST At 1 April 2023 Additions 360.350 At 31 March 2024 360.350 DEPRECIATION At 1 April 2023 Charge for year 91,717 6,631 At 31 March 2024 98.348 NEf 800K VALUE At 31 March 2024 262.002 At 31 March 2023 268.633 Tuckers Hall dates b8ck to 14718nd continues to this day to be the home of the Clothworkers Guild - now knovln as ihe Sncorpor81ion of Weavers Fullers and Shearmen of Exeter, It Is a Iis18d bullding ol great significance as the cornerstona of the woollen cloth trade in Exeter which made the city wealthy and a cgntrg for international trade from the 151h to the late 18 cenlury. The property is preserved and maintained by members of the Incorporation and now includes a modern interactive Interpretation Centre. which is open to the public, illustrating the Woollen Cloth manufacturing processes and the Development of the Cloth Trade in Exeter. Freehold property includes land of £32.208 which has not been depreciated. The Truslees are of the opinion that the market value of the freehold property exceeds the cost.
TUCKERS HALL EXETER UMITED NOTES TO THE UNAUDrrED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 INVESTMENTS 2024 2023 Market value 81 1 April 2023 GainllLossl on revaluation 129,312 12.368 136.878 17.5661 Markei value at 31 March 2024 141.680 129,312 Investments at market value comprised: UK Equit18S 141,680 129,312 Historical cost as at 31 March 2024 67.962 67.962 DEBTORS 2024 2023 Prepayments and accrued income Tax recoverable Other debtors 10,038 8,656 9.810 6.465 1.832 19.474 18.107 CREDITORS.. Due within one year 2024 2023 Loan Accruals Clerk's fees Deferred income 18,708 2.549 18,708 4.306 1000 2.275 22,256 25,289 The loan 15 interest free with no fixed repaymerit temis or date and is provided by current and pasl supporters of the Charity. It is repayable on demand.
TUCKERS HALL EXETER UMITED NOTES TO THE UNAUDITED FINANCIAL STATEMENTS YEAR ENOED 31 MARCH 2023 10. RESERVES Balance Brought foNi•rd Income ExpendIrn Translers Gainsl Balance ILo$$e$l Carried lonNard Interns grant 1.382 3,052 11.7721 1.280 3,942 Total restricted funds 1.382 3,052 11,7721 1.280 Unrestriffled funds 433.560 55.494 164,0791 11,2801 12.368 446.063 434.941 58,546 15S,8511 12.368 450.005 Interns grant This fund relates to grant$ received which are to be used iowards the Costs of interns. part of which has been utilised in the year, the remainder is to be carried fOard against future intgrn costs. 11. SUMMARY OF NET ASSETS BY FUNDS RestTiCted Fund¥ Unrnstrl¢t•d Funds Total Fixed Assets Investment$ Net Current Assets 279,939 137,738 28.386 279,939 137.738 32,328 3.942 3,942 446,063 450.005 12. COMPANY LIMITED BY GUARANTEE Every member of the company undertakes io contrTrbuie such amounts as may be required Inol exceeding £11 to the assets of the company if it should be wound up while he is 8 member or wiihin one year after he C9ases to b8 a member. for payment of the company's dgbts and liabilities ¢ontraded before he ceases to be a member. and of the costs, charges and expenses of winding up. and for the adjustmenl of ihe righis of the coniiibuiories among themselves. 14