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2026-03-31-accounts

REGISTERED COMPANY NUMBER: 02080758 (England and Wales) REGISTERED CHARITY NUMBER: 297311

Heritage Education Trust

Report of the Trustees and Unaudited Financial Statements

For the Year Ended 31 March 2026

Heritage Education Trust

Contents of the Financial Statements for the Year Ended 31 March 2026

Page
Report of the Trustees 1to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7to 10
Detailed Statement of Financial Activities 11

Heritage Education Trust

Report of the Trustees for the Year Ended 31 March 2026

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 2026. 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

Object of the Trust

To enable the public in general and young people in particular to learn about history, art, architecture and other subjects through engagement with historic buildings and sites, museums, landscapes, parks and gardens, cultures and traditions. In particular, the Trust seeks to achieve this through assessment for the Sandford Award and the dissemination of good practice in heritage education.

Through the agreement with Lincoln Bishop University ~~b~~ oth parties commit in good faith to explore joint working in support of, inter alia, the delivery of:

Significant activities

Historic Royal Palaces (HRP) has committed to providing in-kind and financial sponsorship for the Sandford Award at a value of £15,000 per year for three years (2023–24 to 31 March 2026). Sponsorship supports the continued development of the Sandford Award scheme and its role in promoting best practice in heritage education. The sponsorship includes in-kind support through the provision of an HRP venue and staffing for the annual Sandford Award ceremony. As part of the agreement, HRP, and the Sandford team in partnership with Lincoln Bishop University and Sandford Award holders, co delivered an online skills sharing event in 2025 to support professional development across the heritage education sector; attended by over 100 museum educators. St Paul’s Cathedral, a current Sandford Award holder, generously hosted the 2025 Sandford Award ceremony, providing in-kind support through the venue and staffing, with only catering costs met by the Heritage Education Trust (HET). The Chair of HET delivered a keynote at the 2025 Group for Education in Museums Conference; enhancing the visibility of the Sandford Award. This was complemented by a three-day stand presence at the conference, shared with HET and further representation at the Museum + Heritage Show. These targeted profile-raising activities have contributed to a modest uplift in applications for 2026.

Public benefit

In deciding on the activities of the charity, the trustees have had due regard to the Charity Commission's guidance on public benefits.

Volunteers

The Heritage Education Trust is almost entirely run by volunteers. Between April 2025 and March 2026, HET worked with 39 volunteers, including fewer than 30 who carried out Sandford Award assessments. The panel comprises experienced museum educators and heritage and education consultants. An annual skills-sharing session was delivered to support assessors and ensure consistency and confidence in the assessment process.

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, which is valid for 5 years, is currently held by 171 heritage sites as of December 2025. This total excludes 2026 applicants. Entries open each year in December and close in February of the next year. Assessment for the award will not be completed until mid-July 2026. Applicants receive the outcome before end of September 2026. During the period April 2025- March 2026, HET received 33 applications to the Sandford Award from across the British Isles.

FINANCIAL REVIEW

Financial position

At the year end the charity has total reserves of £77,353 (2025: £83,814) of which £68,353 (2025: £77,334) were unrestricted and £9,000 (2025: £6,480) were restricted.

Reserves policy

The fees paid by sites when they apply for the Sandford Award (currently £425) are held by Lincoln Bishop University and fund the cost of administering the Award and other operating costs. 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.

Funds received as part of the HRP agreement are partly intended to be used towards the Awards Ceremony. Due to funding received in the year, the reserves are currently above this level.

Page 1

Heritage Education Trust

Report of the Trustees for the Year Ended 31 March 2026

FINANCIAL REVIEW Going concern

Applications to the Sandford Award have shown a gradual upward trend over the past 20 years. However, the application fee has not kept pace with inflation and is estimated to be around £35 below its historic equivalent in real terms. Budget projections for 2025 indicated that, even with an increase, the fee would not fully cover delivery costs or generate a surplus. While administrative costs remain largely fixed, assessment costs increase with each additional application, reducing the financial benefit of higher application volumes. In response, the application fee was increased by £25 (6%). Recognising that fee income alone will not be sufficient to meet future financial requirements, the Trust has also focused on developing new income streams. The partnership agreement with Historic Royal Palaces (HRP) is due to end on 31 March 2026 and, in preparation for this transition, HET commissioned Good Fundraising to develop a Corporate Fundraising Strategy for the period 2026–2029. The strategy provides a framework for securing diversified income to support the Trust's core charitable activities, including the administration of the Sandford Award. Its objectives include developing corporate partnerships, embedding a fundraising culture across the organisation, identifying new income-generating opportunities, and prioritising approaches that offer the strongest return on investment while minimising reputational and operational risk. Significant preparatory work, including corporate prospect research and the development of partnership materials, was undertaken jointly by Good Fundraising and HET between November 2025 and April 2026, enabling implementation from May 2026 and positioning the Trust to maximise fundraising opportunities associated with the Sandford Award's 50th anniversary in 2028.

As part of this strategic approach, the Chief Executive invited representatives of a Livery Company to attend the 2025 Sandford Award ceremony. This engagement subsequently led to a funding application, with a decision expected in June/July 2026. The Trust also continued to minimise expenditure wherever possible. All Trustee and Assessor meetings were held online, while the 2025 Sandford Award ceremony benefited from significant in-kind support, including the use of St Paul's Cathedral, venue staffing and volunteer assistance, with catering costs kept to a minimum. Lincoln Bishop University also continued to provide substantial benefits in kind to support HET and the administration of the Sandford Award.

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

The governing document is checked and the trustee’s term of office for the formal process of appointment and election. A skills audit is undertaken with existing board members to identify the mix of skills and experience the board needs to lead the charity. A trustee role description is drawn up and included with the application pack. An advert is written and shared on the website, socials, direct emails to specific people and organisations and through sector publications and websites. Candidates are shortlisted against an agreed set of skills and qualities and then selected to attend an online interview to meet with the Chair.

Page 2

Heritage Education Trust

Report of the Trustees for the Year Ended 31 March 2026

Organisational structure

In addition to the Board of Trustees and the Panel of Assessors appointed by Trustees, the Trust has the support of a parttime paid Sandford Award Administrator.

Under the terms of the MOU with Lincoln Bishop University 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 Executive Dean of Research and Knowledge Exchange.

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 Lincoln Bishop University as appropriate.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02080758 (England and Wales)

Registered Charity number 297311

Registered office

Lincoln Bishop University Longdales Road Lincoln Lincolnshire LN1 3DY

Trustees

M Maddison (Chairman) D C Souden (retired 31.10.2024) T J Borman A L Lightbown R J Clutterbuck C B Green A H Jackson J Stone P R Williams S E Roller L Minett L Hockley A Phillipson (appointed 11.12.2025)

Independent Examiner

Future Cloud Accounting Limited Unit 14 Halifax Court Fernwood Business Park Balderton, Newark.

Chief Executive Officer

Dr T Borman

Approved by order of the board of trustees on 16 July 2026 and signed on its behalf by:

T J Borman - Trustee

Page 3

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 above charity for the year ended 31 March 2026.

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:

  1. 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

  2. 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

  3. 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.

Francesca McClory FMAAT

Unit 14, Halifax Court, Fernwood Business Park, Balderton, Newark, 16 July 2026

The notes form part of these financial statements

Page 4

Document Ref: PDJZ9-MPQKV-27KU5-YAMGX

Heritage Education Trust

Statement of Financial Activities for the Year Ended 31 March 2026

Unrestricted fund
£
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
15,000
Sandford Award
12,288
Investment income
2
108
Total
27,395
EXPENDITURE ON
Charitable activities
Sandford Award
33,856
NET INCOME/(EXPENDITURE)
(6,461)
Transfers between funds
9
(9,000)
Net movement in funds
(15,461)
RECONCILIATION OF FUNDS
Total funds brought forward
83,814
TOTAL FUNDS CARRIED FORWARD
68,353
 Restricted fund
£
-
-
-
-
-
9,000
9,000
-
-		 2026
Total funds
£
15,000
12,288
108
27,395
33,856
(6,461)
-
(6,461)
83,814

68,353		 2025
Total funds
£
35,000
9,600
131
44,731
31,188
13,543
-
13,543
70,271
83,814

The notes form part of these financial statements

Page 5

Heritage Education Trust

Balance Sheet 31 March 2026

Notes
FIXED ASSETS
Intangible assets
5
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
9
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
645
-
645
-
70,347
70,347
(2,640)
67,707
68,353
68,353
68,353
-
68,353		 Restricted
fund
£
-
-
-
-
9,000
9,000
-
9,000
9,000
9,000
-
9,000
9,000		 2026
Total
funds
£
645
-

645
-

79,347
79,347
(2,640)
76,707
77,353
77,353
68,353
9,000
77,353		 2025
Total
funds
£
1,932
0
1,932
366
82,475
82,841
(960)
81,881
83,814
83,814
83,814
-
83,814

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 16 July 2026 and were signed on its behalf by:

T J Borman - Trustee

The notes form part of these financial statements

Page 6

Heritage Education Trust

Notes to the Financial Statements for the Year Ended 31 March 2026

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 are 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.

Sandford Award income is recognized when it is received.

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 costs 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
2026 2025
£ £
Bank interest 108 131

The notes form part of these financial statements

Page 7

Heritage Education Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2026

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2026 2025
£ £
Depreciation - owned assets - 128
Website amortisation 1,287 1,287

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

5. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Website
£
COST
At 1 April 2025 and 31 March 2026 6,435
AMORTISATION
At 1 April 2025 4,503
Charge for year 1,287
At 31 March 2026 5,790
NET BOOK VALUE
At 31 March 2026 645
At 31 March 2025 1,932

6.

TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 April 2025 and 31 March 2026 -
DEPRECIATION
At 1 April 2025 -
Charge for year -
At 31 March 2026 -
NET BOOK VALUE
At 31 March 2026 -
At 31 March 2025 -

Page 8

continued...

Heritage Education Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2026

Prepayments and accrued income
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
9. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Good Fundraising - Consultancy Work
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
TOTAL FUNDS		 At 1.4.25
£
83,814
-
83,814
At 1.4.24
£
70,271
-
70,271		 Net
movement
in funds
£
(6,461)
-
(6,461)
Incoming
resources
£
27,395
-
27,395
Net
movement
in funds
£
13,543
-
13,543		 2026
£
-
2026
£
2,640
2,640
Transfers
between
funds
£
(9,000)
9,000
-
Resources
expended
£
(33,856)
-
(33,856)
Transfers
between
funds
£
(6,480)
6,480
-		 2025
£
366
2025
£
960
960
At
31.3.26
£
68,353
9,000
77,353
Movement
in funds
£
(6,461)
-
(6,461)
At
31.3.25
£
77,334
6,480
83,814

Page 9

continued...

Heritage Education Trust

Notes to the Financial Statements - continued for the Year Ended 31 March 2026

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
Resources
expended
£
£
Unrestricted funds
General fund
44,731
(31,188)
Restricted funds
-

-

TOTAL FUNDS
44,731
(31,188)		 Movement
in funds
£
13,543

-
13,543

Restricted Funds:

Consultancy Work – HET has partnered with Good Fundraising to undertake a consultancy project commencing in December 2025, with a duration of six months.

Transfers between funds

A transfer of £9,000 was made to allocate funds for costs expected to be incurred in connection with the project.

10. RELATED PARTY DISCLOSURES

There were no related party transactions during the period.

Page 10

Heritage Education Trust

Detailed Statement of Financial Activities for the Year Ended 31 March 2026


INCOME AND ENDOWMENTS
Donations and legacies
Sandford Award
Donations
Investment income
Bank interest
Total incoming resources
EXPENDITURE
Charitable activities
Event costs
Support costs
Management
Advertising
Training
Amortisation of website
Depreciation of computer equipment
Salaries
Consultancy costs
Travel & Subsistence
Software Costs
Sundry
Governance costs
Accountancy fees
Total resources expended
Net income		 2026
£
12,288
15,000
27,288
108
27,395
1,164
696
100
1,287
-
20,505
4,860
4,034
156
34
31,672
1,020
33,856
(6,461)		 2025
£
9,600
35,000
44,600
131
44,731
1,160
310
1,200
1,287
128
19,416
-
6,393
300
34
29,069
960
31,188
13,543

This page does not form part of the statutory financial statements.

Page 11