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 2022
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 2022
| 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 | 10 |
| Detailed Statement of Financial Activities | 11 |
Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2022
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 2022. 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
Cultural Recovery Funding in 2021 enabled Heritage Education Trust (HET) to begin a modernisation process through a post-pandemic recovery plan based on sector consultation which included: an ambitious business plan, piloting online assessment, enhanced partnership with Group for Education in Museums, recruiting additional volunteer assessors and sharing innovative practice and academic research. The Trust delivered successful training sessions and profile-raising events in partnership with Group for Education in Museums. HET's recovery plan's practical actions are enabling the sector to build excellent learning provision, take positive steps to enhance inclusion, and build robust peer support networks. Findings from project evaluation demonstrate HET's actions are valued and are helping the sector to build resilience by developing an inclusive culture of self-reflection, building confidence and enabling learning teams to have a greater voice within their organisation.
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 35 volunteer assessors, four of whom are also Trustees in addition to 12 volunteer assessors in training- is responsible for assessing applicants for the Sandford Award. The panel is made up of museum educators and heritage and education consultants.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Heritage Education Trust is the only body in the UK to provide independent quality assurance for heritage learning through the annual Sandford Awards. The Award is currently held by almost 200 heritage sites. During the period April 2021 - March 2022- 34 heritage sites and services were assessed for a Sandford Award.
FINANCIAL REVIEW
Financial position
At the year end the charity has total reserves of £41,947 (2021: £8,759) of which £38,956 (2021: £8,759) were unrestricted and £2,991 (2021: £nil) were restricted.
Reserves policy
The fees paid by sites when they apply for the Sandford Award (£350 in 2021) 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 in running costs; and to promote the uptake of the Sandford Award. Due to funding received in the year the reserves are currently above this level.
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Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2022
FINANCIAL REVIEW
Going concern
The operating model and online assessment for the Sandford Award, developed as a result of the financial impact of the pandemic on HET's core business has enabled operations to continue. Award holders reapply consistently every five years, with very little drop off. However, growth in the numbers of applicants - which is the driving force behind the financial model of the trust - is held back by issues around marketing and staff capacity.
The Culture Recovery Fund evaluation highlighted issues with the move to online assessment compared to the pre pandemic face-to-face assessment. Notable were the difficulties for both the assessor and applicant in being able to get a good understanding of the service and true feel of the site and the awe, wonder and responses from pupils without a face-to-face visit. The lack of staff capacity constrains the number of applications which can be assessed and the ability to develop the Award in response to demand, as well as the ability to fundraise to develop the offer. Through delivering successfully the National Lottery Heritage funded Sandford Cascade Project (2015-2019) the Trust is aware of the opportunities to promote heritage learning with schools and other education providers and raise teachers' awareness and understanding of what the award/kitemark means; the value and importance of heritage learning in curriculum delivery and the Sandford Award kitemark in supporting good practice.
The Trust seeks to mitigate the potential impact of returning to face-to-face assessment by:
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exploring with Historic Royal Palaces a renewed partnership following the withdrawn sponsorship in 2020 2. applying for funding through Research England in partnership with Bishop Grosseteste University to support our part time administrator's salary costs
-
exploring a tiered pricing structure to support smaller venues with tighter budgets in applying for a Sandford Award
-
reviewing the interval between reassessments of Sandford Awards (currently 5 years) to strengthen recovery and increase income
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exploring further the promotion of the Sandford Award in schools and making it a regular agenda item at board meetings
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increased and wider promotion of the Heritage Education Trust and Sandford Award by continuing partnership work with Group for Education in Museums
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.
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Heritage Education Trust
Report of the Trustees for the Year Ended 31 March 2022
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
Trustees
Mr J A Hamer (Chairman) (resigned 14.4.22) Ms S Bennett (resigned 31.7.22) 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 (resigned 31.7.22) Mrs AL Lightbown
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 30 November 2022 and signed on its behalf by:
Tracy Borman
Tracy Borman (Dec 2, 2022 10:01 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 2022.
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 2, 2022 10:03 GMT)
Paul Colcomb FCCA Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
30 November 2022
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Heritage Education Trust
Statement of Financial Activities for the Year Ended 31 March 2022
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 25,002 24,735 Investment income 2 - - Total 25,002 24,735 EXPENDITURE ON Charitable activities Sanford Award 1,700 14,849 Other - - Total 1,700 14,849 NET INCOME/(EXPENDITURE) 23,302 9,886 Transfers between funds 9 6,895 (6,895) Net movement in funds 30,197 2,991 RECONCILIATION OF FUNDS Total funds brought forward 8,759 - TOTAL FUNDS CARRIED FORWARD 38,956 2,991 |
2022 Total funds £ 49,737 - 49,737 16,549 - 16,549 33,188 - 33,188 8,759 41,947 |
2021 Total funds £ 31,800 4 31,804 12,600 20,100 32,700 (896) - (896) 9,655 8,759 |
|---|---|---|
The notes form part of these financial statements
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Heritage Education Trust
Balance Sheet 31 March 2022
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Intangible assets 5 5,793 - Tangible assets 6 435 - 6,228 - CURRENT ASSETS Debtors 7 - 1,090 Cash at bank 34,165 1,901 34,165 2,991 CREDITORS Amounts falling due within one year 8 (1,437) - NET CURRENT ASSETS 32,728 2,991 TOTAL ASSETS LESS CURRENT LIABILITIES 38,956 2,991 NET ASSETS 38,956 2,991 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 5,793 435 6,228 1,090 36,066 37,156 (1,437) 35,719 41,947 41,947 38,956 2,991 41,947 |
2021 Total funds £ - - - - 15,975 15,975 (7,216) 8,759 8,759 8,759 8,759 - 8,759 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 30 November 2022 and were signed on its behalf by:
Tracy Borman
Tracy Borman (Dec 2, 2022 10:01 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 2022
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.
Intangible fixed assets
Intangible fixed assets represent the website of the charity which is amortised over 5 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
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 | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Bank interest | - | 4 |
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continued...
Heritage Education Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 25 | - | |
| Website amortisation | 642 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
5. INTANGIBLE FIXED ASSETS
| 5. | INTANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Website | |||
| £ | |||
| COST | |||
| Additions | 6,435 | ||
| AMORTISATION | |||
| Charge for year | 642 | ||
| NET BOOK VALUE | |||
| At 31 March 2022 | 5,793 | ||
| At 31 March 2021 | - | ||
| 6. | TANGIBLE FIXED ASSETS | ||
| Computer | |||
| equipment | |||
| £ | |||
| COST | |||
| Additions | 460 | ||
| DEPRECIATION | |||
| Charge for year | 25 | ||
| NET BOOK VALUE | |||
| At 31 March 2022 | 435 | ||
| At 31 March 2021 | - | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Other debtors | 1,090 | - |
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continued...
Heritage Education Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Trade creditors | 459 | 6,316 | ||||
| Accruals and deferred income | 978 | 900 | ||||
| 1,437 | 7,216 | |||||
| 9. | MOVEMENT IN FUNDS | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.4.21 | in funds | funds | 31.3.22 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 8,759 | 23,302 | 6,895 | 38,956 | ||
| Restricted funds | ||||||
| Heritage Lottery Project costs | - | 9,886 | (6,895) | 2,991 | ||
| TOTAL FUNDS | 8,759 | 33,188 | - | 41,947 | ||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 25,002 | (1,700) | 23,302 | |||
| Restricted funds | ||||||
| Heritage Lottery Project costs | 24,735 | (14,849) | 9,886 | |||
| TOTAL FUNDS | 49,737 | (16,549) | 33,188 | |||
| Comparatives for movement in funds | ||||||
| Net | ||||||
| movement | At | |||||
| At 1.4.20 | in funds | 31.3.21 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 9,655 | (896) | 8,759 | |||
| TOTAL FUNDS | 9,655 | (896) | 8,759 | |||
| Comparative net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 4 | (900) | (896) | |||
| Restricted funds | ||||||
| Heritage Lottery Project costs | 31,800 | (31,800) | - | |||
| TOTAL FUNDS | 31,804 | (32,700) | (896) |
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continued...
Heritage Education Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
Restricted Funds:
Heritage Lottery Project costs - These costs related to professional fees, website development and staff costs in delivering the Sandford awards related specific project.
Transfers between funds
During the period transfers were made from the Heritage Lottery Fund to unrestricted funds totalling £6,895. This represents fixed assets purchased out of restricted funds where the restriction was fulfilled on purchase.
10. RELATED PARTY DISCLOSURES
There were no related party transactions during the period.
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Heritage Education Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 15,000 | - |
| Grants | 34,737 | 31,800 |
| 49,737 | 31,800 | |
| Investment income | ||
| Bank interest | - | 4 |
| Total incoming resources | 49,737 | 31,804 |
| EXPENDITURE | ||
| Charitable activities | ||
| Event costs | 356 | - |
| Support costs | ||
| Management | ||
| Advertising | 90 | - |
| Professional fees | 13,559 | 12,600 |
| Training | 900 | - |
| Amortisation of website | 642 | - |
| Computer equipment | 25 | - |
| 15,216 | 12,600 | |
| Governance costs | ||
| Accountancy fees | 977 | 900 |
| Legal and professional fees | - | 19,200 |
| 977 | 20,100 | |
| Total resources expended | 16,549 | 32,700 |
| Net income/(expenditure) | 33,188 | (896) |
This page does not form part of the statutory financial statements
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