REGISTERED COMPANY NUMBER: 02080758 (England and Wales) REGISTERED CHARITY NUMBER: 297311
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for Heritage Education Trust
Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
Heritage Education Trust
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | ||||
|---|---|---|---|---|
| Report of the Trustees | 1 | to | 3 | |
| Independent Examiner's Report | 4 | |||
| Statement of Financial Activities | 5 | |||
| Balance Sheet | 6 | |||
| Notes to the Financial Statements | 7 | to | 8 | |
| Detailed Statement of Financial Activities | 9 |
Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote and recognise quality in, and concerning, heritage sites and historic properties to allow meaningful access and understanding for all.
Charitable Objects:
The advancement of the education of the public in general and young people in particular in history, art, architecture and other environmental subjects through the study of historic buildings, their contents, surroundings and historic landscapes.
The Trust, in partnership with Bishop Grosseteste University (BGU), is committed to the following aims: - To ensure that the Sandford Awards for Heritage Education continue to thrive, and to look for ways to further develop them.
- To promote widely and thoroughly the good practice that exists at Sandford Award holding sites. - To encourage the development and maintenance of standards of education at all levels at heritage sites and historic properties.
Significant activities
As part of the business planning process supported by Tricolor Associates and funded by the National Lottery Heritage Fund's emergency programme, the Trust surveyed and interviewed over 110 recipients, judges, non-applicants and sector stakeholders to assess the current and future viability of the award.
The development, implementation and evaluation of an online assessment model in lieu of the Trust's usual practice of conducting on-site visits. Such visits were not possible due to the pandemic. Currently all applicants are assessed online and the intention is to continue this approach in 2022.
Public benefit
In deciding on the activities of the charity, the trustees have had due regard to the Charity Commission's guidance on public benefit.
Volunteers
Heritage Education Trust is run by volunteers. A panel of 33 volunteer assessors, three of whom are also Trustees, is responsible for judging applicants for the Sandford Award. The panel is made up of museum educators and heritage and educational consultants.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Heritage Education Trust is the only body in the UK to provide independent quality assurance for heritage education through the annual Sandford Awards. The Award is currently held by over 200 heritage sites. During the period April 2020 - March 2021 13 heritage sites were assessed for the Award.
The development of a new website. This will offer a more comprehensive service to potential applicants and enable HET to expand its role as a sector leader in sharing good practice in heritage learning. Training to be received by HET staff will enable the site to be updated and managed independently.
The recent survey indicated that stakeholders are proud of having the Sandford Award and articulated its main value as being a benchmark against other organisations in the heritage sector, a morale booster and useful advocacy tool for learning teams within their own organisations, and a marker of quality, particularly to others in the heritage sector.
FINANCIAL REVIEW
Financial position
At the year end the charity has total reserves of £8,759 (2020: £9,655). All of these reserves are unrestricted.
Reserves policy
The fees paid by sites when they apply for the Sandford Award (currently £350) are held by BGU and fund the cost of administering the Award. The reserves currently held by HET are: to mitigate the potential impact of any shortfall to cover six months running costs; and to promote the uptake of the Sandford Award.
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Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2021
FINANCIAL REVIEW
Going concern
Audience research indicates that as a result of the pandemic and other factors many heritage sites are under considerable financial pressure. Cost is a major reason why sites do not apply for the Sandford award and the current £350 application fee could not, therefore, be increased without the risk of reducing the number of applicants. As a result of the impact of the pandemic HET lost the sponsorship (£10,000/year for five years) previously received from Historic Royal Palaces.
We are seeking to mitigate the potential impact of these uncertainties by:
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reducing expenditure by currently moving to online rather than on-site assessment visits;
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seeking funding for a part-time, fixed-term development officer with a remit to increase the reach of HET/Sandford (eg by more vigorous marketing - particularly in schools and colleges; using the resources of BGU to widen the support to sites);
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exploring the development of a membership/subscription model.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its memorandum and articles of association and constitutes a limited company, listed by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
There is no formal recruitment or application process. New members of the Board are nominated by current members and, if agreed, their appointment is confirmed by a resolution passed at a meeting of the Trustees.
In nominating individuals for appointment, the Trustees consider in particular the skills, knowledge and experience needed for the effective administration of the Trust. As partners of the Trust, BGU may nominate up to three individuals to serve as trustees. The trustees appoint one of their number to be the Chair of the Trust for such term of office as they determine.
On appointment, Trustees who also act assessors receive a variety of relevant documentation (eg job description, assessors' handbook, procedures for conducting online assessment, reporting template). They also shadow two or more current assessors in order to fully understand their role and the standard needed for an applicant to achieve a Sandford Award. Support is provided by the Sandford Award Administrator. Nothing is currently in place for the formal induction and training of trustees who are not assessors. This is under review.
Organisational structure
In addition to the Board of Trustees and the Panel of Assessors appointed by Trustees, the Trust has the support of a part-time paid Sandford Award Administrator.
Under the terms of the MOU with BGU the post holder is appointed under the terms and conditions for employment of the University; manages the assessment and awarding process; acts as administrator to the Board of Trustees; and is responsible to the University's Heritage Innovation Manager.
Decisions in relation to the overall management of the Trust, policies and procedures, and recipients of the Sandford Award are made by the Trustees in conjunction with BGU as appropriate.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02080758 (England and Wales)
Registered Charity number
297311
Registered office
Bishop Grosseteste University Longdales Road Lincoln Lincolnshire LN1 3DY
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Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2021
Trustees
Mr J A Hamer (Chairman) Ms S Bennett Ms S A Goddard Ms J C Macintyre (resigned 1.4.21) Dr D C Souden Dr T J Borman Mr P Burke Ms C Capancioni Dr M Maddison Ms R Bull Mrs AL Lightbown (appointed 21.10.20) Mr T B O'Leary (resigned 8.10.20)
Independent Examiner
Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
Chief Executive Officer
Dr T Borman
Approved by order of the board of trustees on 10 December 2021 and signed on its behalf by:
Tracy Borman
Tracy Borman (Dec 10, 2021 18:24 GMT)
Dr T J Borman - Trustee
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Independent Examiner's Report to the Trustees of Heritage Education Trust
Independent examiner's report to the trustees of Heritage Education Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts 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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the accounts 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 accounts to be reached.
Paul Colcomb
Paul Colcomb (Dec 12, 2021 21:07 GMT)
Paul Colcomb FCCA Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
10 December 2021
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Heritage Education Trust
Statement of Financial Activities for the Year Ended 31 March 2021
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies - 31,800 Investment income 2 4 - Total 4 31,800 EXPENDITURE ON Charitable activities Sanford Award - 12,600 Other 900 19,200 Total 900 31,800 NET INCOME/(EXPENDITURE) (896) - RECONCILIATION OF FUNDS Total funds brought forward 9,655 - TOTAL FUNDS CARRIED FORWARD 8,759 - |
2021 Total funds £ 31,800 4 31,804 12,600 20,100 32,700 (896) 9,655 8,759 |
2020 Total funds £ - 16 16 - 462 462 (446) 10,101 9,655 |
|---|---|---|
The notes form part of these financial statements
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Heritage Education Trust
Balance Sheet 31 March 2021
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Cash at bank 15,975 - CREDITORS Amounts falling due within one year 4 (7,216) - NET CURRENT ASSETS 8,759 - TOTAL ASSETS LESS CURRENT LIABILITIES 8,759 - NET ASSETS 8,759 - FUNDS 5 Unrestricted funds TOTAL FUNDS |
2021 Total funds £ 15,975 (7,216) 8,759 8,759 8,759 8,759 8,759 |
2020 Total funds £ 9,877 (222) 9,655 9,655 9,655 9,655 9,655 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 December 2021 and were signed on its behalf by:
Tracy Borman
Tracy Borman (Dec 10, 2021 18:24 GMT)
Dr T J Borman - Trustee
The notes form part of these financial statements
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Heritage Education Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The charity is a company limited by guarantee registered in England and Wales.
Income
Donations recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Investment income is recognised when it is received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Bank interest | 4 | 16 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
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continued...
Heritage Education Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Accruals and deferred income |
2021 £ 6,316 900 7,216 |
2020 £ - 222 |
| 222 |
5. MOVEMENT IN FUNDS
Restricted Funds:
Heritage Lottery Project costs - These costs related to professional fees, website development and staff costs.
6. RELATED PARTY DISCLOSURES
There were no related party transactions during the period.
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