Charity registration number 293579
Company registration number 01978359 (England and Wales)
THE FAIRGROUND HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
Directors and Trustees R H C Ward D Wallis S Reed - Treasurer G Belshaw - Vice Chairman K Gamlen P Wrixon A Brown - Chairman M Bryan A Goodwin A Stephens P Phillipps Secretary Mr A Brown - Chairman Charity number 293579 Company number 01978359 Registered office Milford Farm Lifton Devon United Kingdom PL16 0AT Independent examiner Azets Lime Court Pathfields Business Park South Molton Devon United Kingdom EX36 3LH
THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 15 |
THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the charity. Legal and administrative information is shown on page 1.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust'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)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The Charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
The Trust has held the same aims and objectives for many years to promote the study of the fairground in its every aspect, including its institutions, social history, history of British Showmen, the development of fairground amusements, mechanical rides, transport and popular entertainments and the various related art forms, to the public.
The way that we achieve our interaction with the public objectives is via the operation of Dingles Fairground Museum (renamed in 2022 following the previous guise of Dingles Fairground Heritage Centre).
Following discussions with Trustees over several years we have expanded the Trust’s powers to enable the operation of a Trading subsidiary and to separate the trading and operation of the museum from the aims and objectives of the Trust. Therefore, from April 2022 the accounts for the Trust are solely related to the objects of the Trust and a separate set of accounts will be prepared for the operation of the museum.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Effect of Covid-19
This financial year started with the Trust still unclear if we could reopen with the effects of a second lock-down and restrictions in opening conditions. Through our support from Hm Government (via the Arts Council) we were able to retain and maintain our conservation objectives caring for the collection through a period of no visitor income.
It became clear that the restrictions to operating would prevent opening in Summer 2021 (our main revenue earning period) and therefore the costs of reopening for a short Autumn would have exceeded any benefit in doing so and we remained closed throughout the 2021 calendar year.
Government Support
With the loss of a second complete year of visitor revenue, we would have been extremely vulnerable to closure. The Trustees were incredibly grateful for the support provided by HM Government with the Retail Leisure, Support and Restart Schemes and grants from the Arts Council. (see Note 2). The qualifying grant applications were completed by our Curator, Alison Holmes and our Treasurer, Simon Reed.
As shown above, one particular grant was non-covid related, the sum of £4606.10 that was received from the Association of Independent Museums and the Pilgrim Trust. This funding has been used to perform vital conservation on the Woods Boxing Front that had deteriorated in storage. We are especially grateful for their assistance in the work on this valuable collection item
Trustees
Mr Frank Edwards resigned by default in June of 2021 and his place was taken by Mr Peter Phillipps appointed at the December AGM.
The Trustees would like to formally record our thanks to Mr Edwards for his service.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Site
As detailed in the previous year’s accounts, in May 2022 our Landlord (Mr Sandercock) took the decision to not complete the extension to the 2020 building and to sell the site. This puts the Trust’s activities in jeopardy and the Charities Commission was notified accordingly. Following a great deal of consideration, the Trustees decided to redesign the access and catering and to reopen the Museum with effect from April 2022 with what was available. While this approach is not without risk, remaining closed without financial support would see the Trust having to close and disperse the collection.
At the time of writing this report the site has not been sold.
Funding
While the Trust received Government support during the Covid years in the form of Arts Council grants, Furlough support and the Retail and Leisure Support Grants, the site move and investment required to reopen as Dingles Fairground Museum was clearly beyond the reserves allocated and therefore a decision was made to sell nonaccessioned items from the Collection and an auction sale was held in October 2022 yielding some £56,000. The Trustees Curatorial Committee also held a Fairground Art auction with contributions from Joby Carter, Anna Carter, Lloyd Holland, Pete Tei, Mark Gill, George Hebborn, John Corah, Katie B Morgan, David Manders, Harley Harris, Eugene Sloan, Chris Thomas and our Trustees Amy Goodwin and Aaron Stephens. This raised over £6000 and the Trustees are very grateful for all donors’ contributions.
These sums, plus unclaimed Gift-Aid from 2019 has enabled the Trust to meet all of the challenges that the last two years has presented and enabled us to be in a position to reopen in April 2022.
Volunteers
The uncertainty during the Covid years was amplified with the site-issues that have arisen. Specifically, there has been the need to further move out of various buildings and to prepare for the disposal sale. Again – we turned to our cohort of volunteers who, yet-again rallied around and worked like an orchestra – preparing items for sale, moving heavy items and when the sale was over, rebuilding our displays for a re-opening. A re-opening that, for much of the time, was little more than a dream. The Trustees would like to formally that all of our volunteers for each and every one of their inputs.
Conclusion
With a further year of closure, uncertainty surrounding the site’s future and the Trustee’s review of funding and viability it has in some ways been a more difficult year than the first year of Covid. That said, we are solvent and in a good position to move forward and we have throughout this year (and into 2022/23) invested in the site and facilities to make a new operating attraction called Dingles Fairground Museum.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake and a review of the governance structure is planned for 2020/21.
Financial review
The Statement of Financial Activities shows a net inflow of funds for the year of £109,307 (2021: £33,844), and overall reserves at 31 March 2022 of £920,050 (2021: £886,206). The financial statements have been prepared on a going concern basis.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
The trustees continue to develop plans for the future in order to build up reserves and assets to secure the Trust in the long term. Through the work of the Hon. Treasurer and prudent management, the balance sheet remains strong in readiness for future investment. The trustees have the power to invest surplus funds as benefits the Charity.
The trustees has assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
They also maintain an active risk log which is reviewed on a regular basis.
Structure, governance and management
The trust is a company limited by guarantee which was incorporated on 16 January 1986. It registered with the Charity Commission as a charity on 29 January 1986.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
R H C Ward
D Wallis S Reed - Treasurer G Belshaw - Vice Chairman K Gamlen F Edwards (Resigned 1 June 2021) P Wrixon A Brown - Chairman M Bryan A Goodwin A Stephens P Phillipps (Appointed 11 December 2021)
All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on the Legal and Administrative Information page served in the year and meet on a regular basis to discuss the affairs and finance of the Charity. The Board has the power to appoint additional trustees as it considers fit to do so, which comes from nominations received. They are trained by induction from the existing trustees, and are informed of their responsibilities, and by the experience they bring to the Charity.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees actively review the major risks which the charity faces on a regular basis, and combined with an annual review of the controls over the financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm they have taken steps to mitigate the significant risks.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
The trustees are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the trustees are required to:
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(a) select suitable accounting policies and apply them consistently;
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(b) make judgements and estimates that are reasonable and prudent;
(c) state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
(d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' report was approved by the Board of Trustees.
..............................
S Reed - Treasurer Trustee Dated: .........................
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FAIRGROUND HERITAGE TRUST
I report to the trustees on my examination of the financial statements of The Fairground Heritage Trust (the trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Azets Mrs Elizabeth Smith Mrs Elizabeth Smith ACA, FCCA, CTA Lime Court Pathfields Business Park South Molton Devon EX36 3LH United Kingdom
Dated: .........................
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 2 67,083 111,482 Charitable activities 3 74,394 - Total income 141,477 111,482 Expenditure on: Raising funds 4 6,854 - Charitable activities 5 136,798 - Total expenditure 143,652 - Net (expenditure)/income for the year/ Net movement in funds (2,175) 111,482 Fund balances at 1 April 2021 688,152 231,898 Fund balances at 31 March 2022 685,977 343,380 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 178,565 25,135 141,803 74,394 12,748 - 252,959 37,883 141,803 6,854 6,466 - 136,798 139,376 - 143,652 145,842 - 109,307 (107,959) 141,803 920,050 796,111 90,095 1,029,357 688,152 231,898 |
Total 2021 £ 166,938 12,748 |
|---|---|---|
| 179,686 | ||
| 6,466 | ||
| 139,376 | ||
| 145,842 | ||
| 33,844 886,206 |
||
| 920,050 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET
AS AT 31 MARCH 2022
| Notes Fixed assets Tangible assets 8 Current assets Stocks 10 Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Unrestricted funds |
2022 £ £ 812,783 3,216 43,529 188,180 234,925 (18,351) 216,574 1,029,357 343,380 685,977 1,029,357 |
2021 £ £ 789,612 3,216 - 148,757 151,973 (21,535) 130,438 920,050 231,898 688,152 920,050 |
2021 £ £ 789,612 3,216 - 148,757 151,973 (21,535) 130,438 920,050 231,898 688,152 920,050 |
|---|---|---|---|
| 920,050 | |||
| 231,898 688,152 |
|||
| 920,050 |
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 March 2022.
The director acknowledges his 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 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.
The financial statements were approved by the Trustees on .........................
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S Reed - Treasurer Trustee
Company registration number 01978359
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
Charity information
The Fairground Heritage Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Milford Farm, Lifton, Devon, PL16 0AT, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust 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.
1.3 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 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.
1.4 Incoming resources
Income is recognised when the trust 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.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust 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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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The charity is not registered for VAT and all expenditure includes this where appropriate.
All expenditure is accounted for on an accruals basis.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities, costs of an indirect nature necessary to support them and costs associated with meeting the constitutional and statutory requirements of the charity.
1.6 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:
Heritage assets Not depreciated Fixtures, fittings & equipment 6 years straight line, and 3 years straight line
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.
1.7 Impairment of fixed assets
At each reporting end date, the trust 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).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
1.9 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.
1.10 Financial instruments
The trust 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 trust's balance sheet when the trust 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.
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 trust’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
2 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Donations and gifts 67,083 - Restricted Funds grants and donations received - 111,482 67,083 111,482 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 67,083 5,560 - 111,482 19,575 141,803 178,565 25,135 141,803 |
Total 2021 £ 5,560 161,378 |
|---|---|---|
| 166,938 |
3 Charitable activities
| Activity for | Activity for | |
|---|---|---|
| Generating | Generating | |
| Funds | Funds | |
| 2022 | 2021 | |
| £ | £ | |
| Sales within charitable activities | 15,157 | 12,748 |
| Income from auction sales | 59,237 | - |
| 74,394 | 12,748 |
4 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising and publicity | ||
| Purchases for resale | 1,185 | 1,636 |
| Advertising and marketing | 2,100 | 3,918 |
| Brochures, leaflets and signage | 104 | 80 |
| Support costs | 3,465 | 832 |
| Fundraising and publicity | 6,854 | 6,466 |
| 6,854 | 6,466 |
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
5 Charitable activities
| Staff costs Postages, couriers and transport Project manager expenses Bank charges Collection repairs Infrastructure repairs Security and general repairs Rent Insurance Electricity, fuel and water Telephone Depreciation Day to day running costs Accountancy Legal fees Analysis by fund Unrestricted funds For the year ended 31 March 2021 Unrestricted funds |
2022 £ 45,149 1,521 16,857 571 10,695 26,117 457 - 8,064 1,000 821 4,913 15,492 1,862 3,279 136,798 136,798 136,798 136,798 |
2021 £ 56,440 534 7,143 158 5,525 22,331 2,444 17,500 8,400 1,500 1,227 2,995 8,217 2,565 2,397 |
|---|---|---|
| 139,376 | ||
| 139,376 | ||
| 139,376 | ||
| 139,376 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
7 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
| 7 | Employees | (Continued) | |
|---|---|---|---|
| Employment costs | 2022 | 2021 | |
| £ | £ | ||
| Wages and salaries | 45,149 | 56,440 |
There were no employees whose annual remuneration was more than £60,000.
| 8 Tangible fixed assets Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation and impairment At 1 April 2021 Depreciation charged in the year At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 9 Debtors Amounts falling due within one year: Trade debtors Fairground Heritage Trading Limited Loan 10 Stocks Closing stock |
Heritage assets Fixtures, fittings & equipment £ £ 781,928 31,019 24,077 11,006 (7,000) - 799,005 42,025 - 23,334 - 4,913 - 28,247 799,005 13,778 781,928 7,684 2022 £ 155 43,374 43,529 2022 £ 3,216 |
Total £ 812,947 35,083 (7,000) |
|---|---|---|
| 841,030 | ||
| 23,334 4,913 |
||
| 28,247 | ||
| 812,783 | ||
| 789,612 | ||
| 2021 £ - - |
||
| - | ||
| 2021 £ 3,216 |
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THE FAIRGROUND HERITAGE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
11 Creditors: amounts falling due within one year
| Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2022 £ 4,630 12,503 98 1,120 18,351 |
2021 £ 5,117 15,218 132 1,068 |
|---|---|---|
| 21,535 |
12 Retirement benefit schemes
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.
13 Restricted funds
The Income Funds of the charity include restricted funds comprising the following capitalised, and unexpended balances of, donations and grants held on trust for specific purposes.
| Movement in funds Movement in funds Balance at 1 April 2020 Incoming resources Balance at 1 April 2021 Incoming resources £ £ £ £ Restricted funds 90,095 141,803 231,898 111,482 Analysis of net assets between funds Unrestricted funds Restricted funds £ £ Fund balances at 31 March 2022 are represented by: Unrestricted Funds Restricted Funds Tangible assets 812,783 - Current assets/(liabilities) 216,574 - 1,029,357 - |
Balance at 31 March 2022 £ 343,380 |
|---|---|
| Total £ 812,783 216,574 |
|
| 1,029,357 |
14 Analysis of net assets between funds
15 Rent
The rent charge within these accounts is higher than that of the previous year due to the inclusion of an invoice raised by the landlord prior to 31 March 2020 which related to a period after that date. As the accounts have historically been prepared on an invoice basis, this charge has been included accordingly.
16 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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