Charity number: 298295
THE HERSCHEL HOUSE TRUST
TRUSTEE'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
THE HERSCHEL HOUSE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustee and advisers | 1 |
| Trustee's report | 2 - 5 |
| Independent auditors' report | 6 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 -22 |
THE HERSCHEL HOUSE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEE AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025
The Trustee of the charity at 31 January 2025, which has been the sole Trustee for the whole year ended on that date and since the year-end, was The Bath Preservation Trust Limited (charity number 203048). The directors of The Bath Preservation Trust Limited during the year and since the year end were:
Trustees Diane Aderyn OBE (resigned 31 March 2025) Kate Arthurs (co-opted 01 April 2025) Douglas Creed Julian Gooding Bruce Haines (resigned 31 March 2025) Peta Hall Colin Johnston (resigned 31 March 2025) Annabel MacGregor Simon Morray-Jones (resigned 31 March 2025) Geoff Rich (co-opted 1 January 2025) Eve Salomon CBE, Chair (appointed 23 September 2024) Dr Shawn Sobers (co-opted 1 January 2025) Donna Speed Victoria Thornton OBE (resigned 17 July 2025) Richard Tredwin (co-opted 04 April 2025)
Charity registered number 298295
Registered office 1 Royal Crescent Bath BA1 2LR Independent auditors Bishop Fleming LLP Chartered Accountants 10 Temple Back Bristol BS1 6FL Bankers CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ Solicitors Stone King 13 Queen Square Bath BA1 2HJ
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THE HERSCHEL HOUSE TRUST
TRUSTEE'S REPORT FOR THE YEAR ENDED 31 JANUARY 2025
The Trustee presents its annual report together with the audited financial statements for the year 1 February 2024 to 31 January 2025.
OBJECTIVES AND ACTIVITIES
The Herschel Museum of Astronomy is the site of the discovery of the planet Uranus in 1781 and is the only surviving residence of the astronomers William Herschel and his sister Caroline. The principal objectives of The Herschel House Trust are to:
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(a) preserve for public benefit the house at 19 New King Street and its garden as close as possible to the style of the period when it was occupied by William Herschel and his sister Caroline;
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(b) maintain a collection of artefacts relating to the achievements of the Herschel Family with special emphasis on William and Caroline Herschel;
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(c) provide an international reference source of the collection in relation to music, astronomy and scientific research; and
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(d) make available to the public special publications about the Herschel family in conjunction with the William Herschel Society.
ACTIVITIES FOR THE YEAR
Achievements, Performance and Public Benefit
The operational year for the Herschel Museum of Astronomy experienced some variable fortunes and fluctuating visitor numbers, and this was consistent with reports from other museums in the city. The year started very well, with strong visitor numbers, although this did not continue in the summer. The reviews by visitors are consistently strong and the Front of House team provide an excellent and informed visitor welcome:
“Tucked away on a quiet side street in Bath, this museum is full of some seriously significant scientific artefacts, including a replica of Herschels Telescope and the prism he accidentally discovered infrared rays with. It is also cool to see the spot marked where he stood when he discovered Uranus.
The staff member on duty, Joe, was friendly and knowledgeable and happily answered all my questions.
There is also a small shop section, and toilets inside despite being quite a small museum.
Definitely worth going out of your way to see on you way to the Royal Crescent.”
The museums team focused on creating a vibrant public programme of events for people of all ages and particularly for schools and families. In April it was announced that a brass Gregorian Reflector telescope, made by renowned telescope maker of the 18th century, James Short would go on permanent display. The telescope has been provided to the museum on a long-term loan and is considered to be the finest example of a this type of telescope.
The ongoing challenges with the roof to the modern extension and temporary exhibition gallery at the back of the museum have continued, impacting the ability to display historic objects. During the year, the space was used to host a consultation for visitors about the future of the museum. Providing displays and descriptions about potential options for a redevelopment project, the consultation encouraged feedback, comments and the proposal of new ideas. Options inviting consideration included energy efficiency, reuse of spaces, the storyline and interactive content, and other proposals. The consultation was very well responded to and the many comments, thoughts and suggestions will be used to help inform the design of the project.
Following the receipt of a grant, BPT and the team at the Herschel Museum were delighted to finally obtain a mobile planetarium, to engage people of all ages with the study of stars and the night sky. The resource is particularly popular with children and schools, providing a direct and tangible experience of looking at the night sky, supported by our learning team. The resource provides an impressive experience and has been used to excellent benefit. As it is portable, it means BPT staff can visit schools and other venues to extend reach and
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THE HERSCHEL HOUSE TRUST
TRUSTEE'S REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2025
engagement with more people.
We are fortunate to have an excellent relationship with the Herschel Society and they have continued to work in partnership with us to provide insights, information and expertise which enriches the public programme. Similarly, we have been working with Bath Astronomers who provide support and events at the museum on a regular basis. Our sincere thanks go to both organisations for their support and generosity throughout the year.
Financial Review
Performance was slightly lower with expectations by year end. The first four months were performing above target although this trend did not continue.
The operations generated a net unrestricted surplus of £6,918. Investment gains of £12,616 resulted in a net unrestricted surplus of £19,534. In the prior year there was a net unrestricted surplus before investment gains of £7,020 and investment gains of £1,557 leading to a net unrestricted surplus of £8,577.
Museum income was £89,475 for the year, a decrease of £6,439 compared to the previous year.
Total funds of HHT at 31 January 2025 were £491,844, which is an increase of £12,108 from the previous year.
The Trustee is of the opinion that the financial position of the charity is satisfactory and anticipates no difficulty in meeting the immediate obligations of the charity. New ways of increasing sources of unrestricted income are being considered and developed by the Trustee.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Herschel House Trust is an unincorporated charity (no. 298295) governed by a Declaration of Trust dated 10 March 1987, together with deeds of appointment of trustees dated 1994 and 1997.
Following the deed of variation signed in July 2015 by the then Trustees, the sole Trustee of the charity at year end is The Bath Preservation Trust Limited (Charity No. 203048). In the event it ceases to be sole trustee, the appointment and election of future trustees is in accordance with the governing documents.
Organisation of Committees
The Board of Trustees of Bath Preservation Trust administers the Trust. The Board meets on a quarterly basis. The approach to delegating decisions to committees reverted to the Board of Trustees, following a governance review conducted by the Chair in 2024. The committees continue to meet quarterly to support specific areas of work: Finance Audit & Risk, Museums, Advocacy & Campaigns and Architecture, Planning & Place. The Bath Rural Area Forum (formerly Environs of Bath Sub-Committee) provides a liaison and engagement opportunity with the fourteen parishes around the City.
The Chief Executive manages the day-to-day operations of the Trust assisted by paid staff.
Key Management Personnel and staffing matters
The key management personnel of The Bath Preservation Trust were deemed in-year to be the Senior Management Team, which comprises the Chief Executive, BPT Director of Museums and the BPT Management Accountant. Total employee costs for key management personnel are disclosed within The Bath Preservation Trust Ltd’s consolidated financial statements.
The Chief Executive of The Bath Preservation Trust manages the day-to-day operations of The Herschel House Trust through the BPT Director of Museums and the BPT Senior Curator. The museum also benefits from being part of the wider BPT museums ‘family’ which supports the charity through education, marketing and finance staff
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THE HERSCHEL HOUSE TRUST
TRUSTEE'S REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2025
support and the secondment of Museum Assistants for specific events. External advice is provided by the members of the Herschel Museum Advisory Committee which includes various interested parties.
Volunteers
The museum has a small team of volunteers to support staff to provide the visitor welcome. We are immensely grateful to our volunteers, and those of our partner organisations, for their ongoing commitment to Herschel House Trust and BPT.
Related Parties
The sole trustee, The Bath Preservation Trust Limited, and its subsidiaries, No 1 Royal Crescent (Bath) Ltd and the Beckford Tower Trust, are considered to be the only related parties.
Risk Management
The Trustee has carried out a full risk assessment of all the activities of The Herschel House Trust covering the major strategic, business and operational risks.
The main risk relates to the perennial potential for operational deficit. The museum is home to an internationally important scientific and cultural story but is challenged by location and size. As well as finding new ways to engage with audiences, the Senior Management Team continues to identify new income sources to improve the financial viability of the museum and related activities.
A risk management framework for the whole BPT group, which also identifies specific risks relating to the Herschel Museum of Astronomy has been produced and adopted by the Trustee. The risks are monitored regularly and the Trustee is therefore satisfied that appropriate systems are in place to mitigate the risks to the charity.
In July 2024, the Trustee adopted a new, forward strategy for the BPT group, to lead its growth and development. The strategy has provided confidence and the BPT group is well placed for the future.
Investments Powers and Policy
The Trustee has a wide range of investment powers and has appointed Sarasin Endowment Fund to manage its portfolio.
Heritage Assets
Donated heritage assets are recorded at deemed cost at the date of acquisition, which may be established by a probate value or a formal valuation, where applicable and reasonably obtainable.
Heritage assets costing £1,000 or above purchased by the Trust after 1 March 2005 are recorded at cost.
These assets are not depreciated as they are deemed to have indefinite lives and are reviewed annually for any impairment. They are intended to be held as permanent additions to the collections. It is the Trust’s policy not to revalue heritage assets once capitalised as undertaking valuations at a sufficient frequency for them to remain current would incur disproportionate cost.
The Trust has a clear duty to care for and make available these assets for the enjoyment and education of the public as far as is possible, commensurate with the long term care of these items. The highest possible standards of collection management are applied, and the catalogues are made available as widely as possible to facilitate all enquiries and requests for information, subject to appropriate security and data protection guidelines. The Herschel Museum of Astronomy has Accredited status.
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THE HERSCHEL HOUSE TRUST
TRUSTEE'S REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2025
Reserves Policy
The Trustee’s reserves policy is that as an organisation not in receipt of statutory funding and currently dependent on admissions and rental income, the optimum level of reserves should be sufficient to cover the impact of a loss of fifty percent of annual income, plus a designated fund to cover future maintenance costs. Given the financial obligations arising from the responsibilities of maintaining a listed building, together with the unpredictable nature of visitor income upon which the Trust is dependent, the Trustee believes that building up a fund is appropriate in order to secure the long-term future of the Trust.
As disclosed fully in note 16 the current level of unrestricted funds totalling £318,319 may not be sufficient to meet all future maintenance requirements. Therefore, the Trustee aims to set surplus budgets if possible and to earmark such surpluses for future designated reserves.
TRUSTEE'S RESPONSIBILITIES STATEMENT
The Trustee is responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustee is required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustee is responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. It is 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.
This report was approved by the Trustee on 17 July 2025 and signed on its behalf by:
Eve Salomon, Chair - The Bath Preservation Trust Ltd
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THE HERSCHEL HOUSE TRUST
INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF THE HERSCHEL HOUSE TRUST
AUDITORS OPINION
We have audited the financial statements of The Herschel House Trust (the 'Charity') for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the Charity's affairs as at 31 January 2025 and of the Charity's incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.
OTHER INFORMATION
The trustee is responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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THE HERSCHEL HOUSE TRUST
INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF THE HERSCHEL HOUSE TRUST
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Annual Report.
We have nothing to report in respect of the following matters in relation to which we to report to you if, in our opinion:
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the Charity has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
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the Charity financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEE
As explained more fully in the trustee’s responsibilities statement, the trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustee is responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intends to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
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We have considered the nature of the sector, control environment and financial performance;
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we have considered the results of enquiries with management and the trustee in relation to their own identification and assessment of the risk of irregularities within the entity;
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we have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation; and
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we have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to material grants received by the Charity.
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THE HERSCHEL HOUSE TRUST
INDEPENDENT AUDITORS' REPORT TO THE TRUSTEE OF THE HERSCHEL HOUSE TRUST
In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or avoid a material penalty. These included data protection regulations, health and safety regulations and employment legislation.
Our procedures to respond to risks identified included the following:
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reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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enquiring of management in relation to actual and potential claims or litigations;
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performing detailed transactional testing in relation to the recognition of revenue, specifically grants, with a particular focus around year-end cut off; and
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in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments.
We also communicated identified laws and regulations and potential fraud risks to the trustee of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.
As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than a one off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
USE OF OUR REPORT
This report is made solely to the trustee, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustee those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the trustee, for our audit work, for this report, or for the opinions we have formed.
Chris Trantham FCA (Senior Statutory Auditor) for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL
Date:
Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006
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THE HERSCHEL HOUSE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025
| Note INCOME AND ENDOWMENTS FROM: Donations, legacies and grants 2 Charitable activities 3 Other trading activities 4 Investments 5 TOTAL INCOME EXPENDITURE ON: Raising funds 7 Charitable activities 6 TOTAL EXPENDITURE NET INCOME BEFORE INVESTMENT GAINS Net gains/(losses) on investments 12 NET INCOME/(EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES TRANSFERS BETWEEN FUNDS 16 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 £ £ £ £ 3,167 14,750 17,917 18,013 89,475 - 89,475 95,914 11,491 - 11,491 9,308 25,737 - 25,737 23,618 |
|---|---|
| 129,870 14,750 144,620 146,853 |
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| 10,641 - 10,641 9,287 112,311 22,176 134,487 123,969 |
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| 122,952 22,176 145,128 133,256 |
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| 6,918 (7,426) (508) 13,597 12,616 - 12,616 1,557 |
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| 19,534 (7,426) 12,108 15,154 - - - - |
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| 19,534 (7,426) 12,108 15,154 |
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| 318,319 161,417 479,736 464,582 |
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| 337,853 153,991 491,844 479,736 |
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THE HERSCHEL HOUSE TRUST
BALANCE SHEET AS AT 31 JANUARY 2025
| Note FIXED ASSETS Tangible Assets 11 Investments 12 CURRENT ASSETS Stocks 13 Debtors 14 Cash at bank and in hand CREDITORS: amounts falling due within one year 15 NET CURRENT ASSETS NET ASSETS CHARITY FUNDS Restricted funds 16 Unrestricted funds 16 TOTAL FUNDS |
£ 3,796 9,428 228,226 |
2025 2024 £ £ £ 158,634 158,634 110,186 97,771 268,820 256,405 4,215 52,757 177,101 234,073 (10,742) 223,025 223,331 491,845 479,736 153,991 161,417 337,853 318,319 491,844 479,736 |
|---|---|---|
| 241,450 (18,425) |
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The financial statements were approved and authorised for issue by the Trustee on 17 July 2025 and signed on its behalf, by:
Eve Salomon, R Tredwin, Chair - The Bath Preservation Trust Ltd Chair - Finance Committee
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) 2019 published in October 2019.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Herschel House Trust constitutes a public benefit entity as defined by FRS 102.
1.2 INCOME
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the guides is not recognised; please refer to the Trustee's report for more information about their contribution.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of meeting any performance related conditions, there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
1.3 EXPENDITURE
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.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of raising funds are costs incurred in raising funds for the Trust’s charitable purposes.
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. ACCOUNTING POLICIES (continued)
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
1.4 HERITAGE ASSETS
Donated heritage assets are recorded at deemed cost at the date of acquisition, which may be established by a probate value or a formal valuation, where applicable and reasonably obtainable.
Heritage assets costing £1,000 or above purchased by the Trust since 2013 are recorded at cost.
These assets are not depreciated as they are deemed to have indefinite lives and are reviewed annually for any impairment. They are intended to be held as permanent additions to the collections. It is the Trust’s policy not to revalue heritage assets once capitalised as undertaking valuations at a sufficient frequency for them to remain current would incur disproportionate cost.
It is very important for a museum to account to the public for the management and care of the collections entrusted to it. High standards of Collections Management are applied to the collection in order to preserve and manage it on behalf of, and to make it available to, the public. A Register and full records are kept on the collection, its provenance, and its donors. These are made available for all enquiries and requests, subject to appropriate security and data protection guidelines. Conservation expenditure incurred on heritage assets, has been written off to the Statement of Financial Activities.
1.5 TANGIBLE FIXED ASSETS AND DEPRECIATION
All assets costing £1,000 or above are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Property - not depreciated Heritage assets - not depreciated Fixtures and fittings20% straight line
1.6 INVESTMENTS
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Net gains/(losses) on investments’ in the Statement of Financial Activities.
1.7 INTEREST RECEIVABLE
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the Bank.
1.8 STOCKS
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
slow-moving stocks.
1.9 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 CREDITORS
Creditors are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.12 FINANCIAL INSTRUMENTS
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.13 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustee for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.
1.14 TAXATION
The Herschel House Trust is a registered charity and as such tax exemption applies to the income arising from and expended on charitable activities and to its investment income and gains.
1.15 GOING CONCERN
The Trustee assesses whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustee makes this assessment in respect of a period of one year from the date of approval of the financial statements.
Under all the scenarios reviewed, the charity has sufficient reserves to enable it to continue as a going concern for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements.
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
2. INCOME FROM DONATIONS, LEGACIES AND GRANTS
| Legacies Donations Grants Grants - coronavirus related Total 2024 |
Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 £ £ £ £ - - - (3,669) 167 - 167 545 3,000 14,750 17,750 16,250 - - - 4,887 |
|---|---|
| 3,167 14,750 17,917 18,013 |
|
| (1,124) 19,137 18,013 |
3. INCOME FROM CHARITABLE ACTIVITIES
| 4. OTHER TRADING ACTIVITIES Museum admissions income Other museum income Total 2024 Shop income Total 2024 |
Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 £ £ £ £ 81,730 - 81,730 88,677 7,745 - 7,745 7,237 |
|---|---|
| 89,475 - 89,475 95,914 |
|
| 95,914 - 95,914 Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 £ £ £ £ 11,491 - 11,491 9,308 |
|
| 9,308 - 9,308 |
4. OTHER TRADING ACTIVITIES
5. INVESTMENT INCOME
| Investment income - rent Listed investments and bank interest Total 2024 |
Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 £ £ £ £ 22,395 - 22,395 20,524 3,342 - 3,342 3,094 |
|---|---|
| 25,737 - 25,737 23,618 |
|
| 23,618 - 23,618 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
6. ANALYSIS OF DIRECT EXPENDITURE ON CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Restricted | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||||
| Wages and salaries | 59,551 | 1,078 | 60,629 | 58,801 | ||||
| Premises costs: | ||||||||
| Insurances | 2,011 | - | 2,011 | 2,162 | ||||
| Repairs, maintenance and projects | 5,829 | - | 5,829 | 22,405 | ||||
| Heat and light | 7,266 | - | 7,266 | 9,270 | ||||
| Other premises costs | 6,830 | - | 6,830 | 6,395 | ||||
| Opening costs: | ||||||||
| Interpretation/conservation | 352 | - | 352 | 6,257 | ||||
| Leaflets and advertising | 3,438 | 712 | 4,150 | 2,810 | ||||
| Guides and other opening costs | 8,587 | 20,386 | 28,973 | 9,288 | ||||
| Administration: | ||||||||
| Office and other costs | 3,179 | - | 3,179 | 2,501 | ||||
| Accountancy | 12,000 | - | 12,000 | 1,200 | ||||
| Auditors' remuneration | 3,000 | - | 3,000 | 2,880 | ||||
| Depreciation | - | - | - | - | ||||
| 112,311 | 22,176 | 134,487 | 123,969 | |||||
| 7. | ANALYSIS OF EXPENDITURE | BY EXPENDITURE TYPE | ||||||
| Staff costs | Depreciation | Other | costs | Total | Total | |||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||||
| £ | £ | £ | £ | £ | ||||
| Expenditure on raising funds | ||||||||
| Shop expenditure | - | - | 6,994 | 6,994 | 4,763 | |||
| Rental property costs | - | - | 3,647 | 3,647 | 4,524 | |||
| - | - | 10,641 | 10,641 | 9,287 | ||||
| Expenditure on charitable | ||||||||
| activities | 60,629 | - | 70,858 | 131,487 | 121,089 | |||
| Expenditure on governance | - | - | 3,000 | 3,000 | 2,880 | |||
| 60,629 | - | 84,499 | 145,128 | 133,256 | ||||
| Total 2024 | 58,801 | - | 74,455 | 133,256 | s |
- NET INCOME/(EXPENDITURE)
During the year, no Trustee received any remuneration (2024: £NIL).
During the year, no Trustee received any benefits in kind (2024: £NIL).
During the year, the Trustee, The Bath Preservation Trust, was reimbursed net expenses of £36,000 (2024: £62,235).
9. AUDITORS' REMUNERATION
The Auditor's remuneration amounts to an Audit fee of £3,000 (2024 - £2,880).
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
10. STAFF COSTS
No persons were directly employed by the charity but recharges for staff costs of £59,526 (2024: £58,801) were made by The Bath Preservation Trust Limited.
11. TANGIBLE FIXED ASSETS
| COST At 1 February 2024 Additions At 31 January 2025 DEPRECIATION At 1 February 2024 Charge for the year At 31 January 2025 NET BOOK VALUE At 31 January 2025 At 1 February 2024 |
Heritage assets Fixtures and fittings Total £ £ £ 158,634 20,841 179,475 - - - |
|---|---|
| 158,634 20,841 179,475 |
|
| - 20,841 20,841 - - - |
|
| - 20,841 20,841 |
|
| 158,634 - 158,634 |
|
| 158,634 - 158,634 |
Freehold land and Buildings (Heritage assets) - 19 New King Street, Bath, was donated to The Herschel House Trust in 1987. This comprised an historic asset which is integral to the purposes of the Trust. No value was placed on the gift, and there have been no subsequent formal valuations, so no cost or value for 19 New King Street is included in the financial statements.
Museum exhibits (Heritage assets) – Museum exhibits purchased prior to 2013 were written off as historic assets on the date of purchase. Since this date purchases over £1,000 are capitalised.
HERITAGE ASSETS
| HERITAGE ASSETS | |
|---|---|
| Heritage assets acquired prior to 1 February 2024 Items acquired for display at 19 New King Street prior to 2015 Letters from Sir Joseph Banks and Nevil Maskelyne Dudley Adams globes 18th Century guittar Caroline Herschel manuscript Caroline Herschel visitor book Heritage assets at 31 January 2025 |
Cost Valuation Total £ £ £ 18,526 18,526 4,608 4,608 19,000 19,000 2,500 2,500 108,000 108,000 6,000 6,000 Basis of capitalisation |
| 158,634 - 158,634 |
|
| 158,634 - 158,634 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
12. FIXED ASSET INVESTMENTS
| All investments are held in units in the Sarasin Endowment Fund. 13. STOCKS 14. DEBTORS 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Listed securities group undertaking Listed securities £ £ £ MARKET VALUE At 1 February 2024 97,771 97,771 Withdrawals/additions (201) - (201) Revaluations 12,616 - 12,616 At 31 January 2025 110,186.00 - 110,186 INVESTMENTS AT MARKET VALUE COMPRISE: 2025 2024 £ £ Listed investments 110,186 97,771 2025 2024 £ £ Goods for resale 3,796 4,215 2025 2024 £ £ Amounts owed by group undertakings - 5,648 Prepayments and accrued income 9,428 47,109 9,428 52,757 2025 2024 £ £ Trade creditors 4,520 4,802 Amounts owed to group undertakings 10,838 - Other creditors - 295 Accruals and deferred income 3,067 5,645 18,425 10,742 |
All investments are held in units in the Sarasin Endowment Fund. 13. STOCKS 14. DEBTORS 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Listed securities group undertaking Listed securities £ £ £ MARKET VALUE At 1 February 2024 97,771 97,771 Withdrawals/additions (201) - (201) Revaluations 12,616 - 12,616 At 31 January 2025 110,186.00 - 110,186 INVESTMENTS AT MARKET VALUE COMPRISE: 2025 2024 £ £ Listed investments 110,186 97,771 2025 2024 £ £ Goods for resale 3,796 4,215 2025 2024 £ £ Amounts owed by group undertakings - 5,648 Prepayments and accrued income 9,428 47,109 9,428 52,757 2025 2024 £ £ Trade creditors 4,520 4,802 Amounts owed to group undertakings 10,838 - Other creditors - 295 Accruals and deferred income 3,067 5,645 18,425 10,742 |
All investments are held in units in the Sarasin Endowment Fund. 13. STOCKS 14. DEBTORS 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Listed securities group undertaking Listed securities £ £ £ MARKET VALUE At 1 February 2024 97,771 97,771 Withdrawals/additions (201) - (201) Revaluations 12,616 - 12,616 At 31 January 2025 110,186.00 - 110,186 INVESTMENTS AT MARKET VALUE COMPRISE: 2025 2024 £ £ Listed investments 110,186 97,771 2025 2024 £ £ Goods for resale 3,796 4,215 2025 2024 £ £ Amounts owed by group undertakings - 5,648 Prepayments and accrued income 9,428 47,109 9,428 52,757 2025 2024 £ £ Trade creditors 4,520 4,802 Amounts owed to group undertakings 10,838 - Other creditors - 295 Accruals and deferred income 3,067 5,645 18,425 10,742 |
|---|---|---|
| 110,186 | ||
| 2024 £ 97,771 |
||
| 2025 £ 3,796 |
2024 £ 4,215 |
|
| 2025 £ - 9,428 |
2024 £ 5,648 47,109 |
|
| 9,428 | 52,757 | |
| 2025 £ 4,520 10,838 - 3,067 |
2024 £ 4,802 - 295 5,645 |
|
| 18,425 | 10,742 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16. STATEMENT OF FUNDS
STATEMENT OF FUNDS – CURRENT YEAR
| DESIGNATED FUNDS Short term maintenance Medium to long term maintenance Loss of income GENERAL FUNDS TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS HHT Assets: Museum Exhibits HHT Funds: B&NES School visits Ernest Cook Royal Astronomical Society Spark grant NLHF CRF grants NLHF Herschel 200 IOP grant WoE small museum grant The Royal Society SW Museums grant TOTAL OF FUNDS |
Balance at 1 February 2024 Income Expenditur e Transfers in/out Gains/ (Losses) Balance at 31 January 2025 £ £ £ £ £ £ 72,530 - - - - 72,530 193,789 - - - - 193,789 52,000 - - - - 52,000 |
|---|---|
| 318,319 - - - - 318,319 |
|
| - 129,870 (122,952) - 12,616 19,534 |
|
| 318,319 129,870 (122,952) - 12,616 337,853 |
|
| 137,825 - - - - 137,825 1,600 1,000 (1,520) - - 1,080 440 - - - - 440 864 - - - - 864 8,954 - - - - 8,954 98 - - - - 98 - - - - - - 719 - - - - 719 1,667 - (1,667) - - - 9,250 9,250 (18,061) - - 439 - 3,500 - - - 3,500 - 1,000 (928) - - 72 |
|
| 161,417 14,750 (22,176) - - 153,991 |
|
| 479,736 144,620 (145,128) - 12,616 491,844 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16. STATEMENT OF FUNDS (continued)
STATEMENT OF FUNDS – PRIOR YEAR
| STATEMENT OF FUNDS – PRIOR | YEAR |
|---|---|
| DESIGNATED FUNDS Short term maintenance Medium to long term maintenance Loss of income GENERAL FUNDS TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS HHT Assets: Museum Exhibits Display cases HHT Funds: B&NES School visits Ernest Cook Royal Astronomical Society William Herschel Society Spark grant NLHF CRF grants NLHF Herschel 200 IOP grant WoE small museum grant TOTAL OF FUNDS |
Balance at 1 February 2023 Income Expenditure Transfers in/out Gains/ (Losses) Balance at 31 January 2024 £ £ £ £ £ £ 72,530 - - - - 72,530 185,212 - - 8,577 - 193,789 52,000 - - - - 52,000 |
| 309,742 - - 8,577 - 318,319 |
|
| - 127,716(120,696) (8,577) 1,557 - |
|
| 309,742 127,716 (120,696) - 1,557 318,319 |
|
| 137,825 - - - - 137,825 - - - - - - 2,000 - (400) - - 1,600 700 - (260) - - 440 864 - - - - 864 8,954 - - - - 8,954 - - - - - - 98 - - - - 98 - 4,887 (4,887) - - - 4,399 - (3,680) - - 719 - 5,000 (3,333) - - 1,667 - 9,250 - - - 9,250 |
|
| 154,840 19,137 (12,560) - - 161,417 |
|
| 464,582 146,853 (133,256) - 1,557 479,736 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16. STATEMENT OF FUNDS (continued)
DESIGNATED FUNDS
The Trustee’s reserves policy is that as an organisation not in receipt of statutory funding and currently dependent on admissions and rental income, the optimum level of reserves should be sufficient to cover the impact of a loss of fifty percent of annual income, plus a designated fund to cover future maintenance costs.
In 2024, the unrestricted surplus of £8,577 was transferred to the Medium to Long Term Maintenance Fund.
The current level of unrestricted funds may not be sufficient to meet all future maintenance requirements.
Therefore, the Trustee aims to set surplus budgets if possible and to earmark such surpluses for further designated reserves. In addition, any unrestricted windfalls (legacies, gifts etc.) should pass to reserves if appropriate.
RESTRICTED FUNDS
Museum exhibits – relate to heritage assets purchased for display in the museum. In the year 2022-23, the Trust acquired 57 pages in Caroline Herschel’s manuscript of a draft for her memoirs at a cost of £108,000, funded by grants from the National Heritage Memorial Fund, Arts Council England/V&A Purchase Grant Fund, and the Friends of the National Libraries, together with private donations and a small amount from the Trust’s reserves. The pages cover her childhood in Hanover and her early years in Bath. In addition, the Trust was able to purchase Caroline’s visitor book, which had been on loan to the museum since 1996. This acquisition, which cost £6,000, was funded by a grant from the Friends of the National Libraries and a small amount from the Trust’s reserves.
Bath & North East Somerset (B&NES) Council – the grant was a contribution to the cost of exhibitions at the museum.
School visits – this represents grants and donations given to support the costs of school visits.
Ernest Cook – this grant supported the cost of education equipment for stargazing and related activities.
Royal Astronomical Society – this relates to a grant towards the running costs of the museum.
William Herschel Society – this is the balance of funding provided by the William Herschel Society to support specific activity and purchases by the Trust.
Spark grant – this grant from the Science and Technology Facilities Council is a contribution to the cost of upgrading the planetarium and related visitor events.
NLHF CRF grants – this represents costs that were met from the National Lottery Heritage Fund (NLHF) Culture Recovery Fund for Heritage grants held by The Bath Preservation Trust.
NLHF Herschel 200 – this is a £60,710 grant from the National Lottery Heritage Fund to support activities celebrating the life and works of William Herschel 200 years after his death in 1822.
IOP grant – this is a £5,000 grant from the Institute of Physics to support educational activities.
WoE small museum grant – this is a £9,250 grant from the West of England Combined Authority to fund exhibitions, learning resources and IT equipment.
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16. STATEMENT OF FUNDS (continued)
SUMMARY OF FUNDS – CURRENT YEAR
| Designated funds General funds Restricted funds |
Balance at 1 February 2024 Income Expenditur e Transfers in/out Gains/ (Losses) Balance at 31 January 2025 £ £ £ £ £ £ 318,319 - - - - 318,319 - 129,870 (122,952) - 12,616 19,534 |
|---|---|
| 318,319 129,870 (122,952) - 12,616 337,853 161,417 14,750 (22,176) - - 153,991 |
|
| 479,736 144,620 (145,128) - 12,616 491,844 |
SUMMARY OF FUNDS – PRIOR YEAR
| Designated funds General funds Restricted funds |
Balance at 1 February 2023 Income Expenditure Transfers in/out Gains/ (Losses) Balance at 31 January 2024 £ £ £ £ £ £ 309,742 - - 8,577 - 318,319 - 127,716 (120,696) (8,577) 1,557 - |
|---|---|
| 309,742 127,716 (120,696) - 1,557 318,319 154,840 19,137 (12,560) - - 161,417 |
|
| 464,582 146,853 (133,256) - 1,557 479,736 |
- ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT YEAR
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
Unrestricted funds Restricted funds Total funds 2025 2025 2025 £ £ £ 20,809 137,825 158,634 110,186 - 110,186 225,284 16,166 241,450 (18,425) - (18,425) |
|---|---|
| 337,854 153,991 491,845 |
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THE HERSCHEL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)
ANALYSIS OF NET ASSETS BETWEEN FUNDS – PRIOR YEAR
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year |
Unrestricted funds Restricted funds Total funds 2024 2024 2024 £ £ £ 20,809 137,825 158,634 97,771 - 97,771 210,481 23,592 234,073 (10,742) - (10,742) |
|---|---|
| 318,319 161,417 479,736 |
18. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
There were no capital commitments or contingent liabilities at 31 January 2025 (2024: none).
19. RELATED PARTY TRANSACTIONS
At the year-end The Bath Preservation Trust Limited owed Herschel House Trust £10,838 (2024: Herschel House Trust owed The Bath Preservation Trust Limited £5,648).
20. ULTIMATE PARENT UNDERTAKING
The Bath Preservation Trust Limited is the immediate and ultimate parent. The Trust prepares consolidated financial statements, including the results of The Herschel House Trust, which can be obtained from the Trust's offices at 1 Royal Crescent, Bath, BA1 2LR.
Page 22