REGISTERED NUMBER: 1190087 (England & Wales) REGISTERED CHARITY NUMBER: 503983
DERBYSHIRE HISTORIC BULLDINGS TRUST
(Limited by Guarantee)
Report of the Trustees and Directors and Financial Statements for the Year Ended 31 December 2023
Hunter Jones Alton Chartered Accountants 36 Bridge Street Belper Derbyshire DE56 1AX
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DERBYSHIRE HISTORIC BUILDINGS TRUST (Limited by Guarantee)
Contents of the Financial Statements for the Year Ended 31 December 2023
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|Page|
|Legal & Administrative Information|1|
|Report of the|Trustees and Directors|2-5|
|Report of the Independent Examiners|6|
|Statement|of Financial Activities|7|
|Balance|Sheet|8|
|Notes|to|the|Financial Statements|§-13|
|Detailed|Statement of Financial|Activities|14|
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DERBYSHIREHISTORIC BUILDINGS TRUST imited by Guarantee
Lesal and Administrative Information for the Year Ended 31 December 2023
COMPANY NUMBER: 1190087 (England & Wales) REGISTERED CHARITY NUMBER: 503983 REGISTERED OFFICE: 1-3 Greenhill Wirksworth Derbyshire DE4 4EN TRUSTEES AND DIRECTORS OF THE TRUST: .
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Mr D Latham Chairman Dr I Webster Mr A Morrison Mr B Joyce Mr O Gerrish Ms E Stoppard Mr P Milner Mr R Muir resigned 18 September 2023 Mr D Greenway appointed 18 September 2023 Mr R Wood appointed 18 September 2023
COMPANY SECRETARY DrI Webster BANKERS: TSB Bank Plc 27 Market Place Chesterfield 840 1PN INDEPENDENT EXAMINERS: Hunter Jones Alton Chartered Accountants 36 Bridge Street Belper Derbyshire DE56 1AX
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DERBYSHIREHISTORIC BUILDINGS TRUST (Limited by Guarantee)
Report of the Trustees and Directors for the Year Ended 31 December 2023
Derbyshire Historic Buildings Trust is a registered charity and a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The Trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their annual report and financial statements for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2005) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the charity.
The directors of the charity also act as the trustees and are referred to as such within the financial statements. ; STRUCTURE, GOVERNANCE AND MANAGEMENT ;
Governing document
The organisation is a charitable company limited by guarantee, not having a share capital. It was incorporated on 11 November 1974 and registered as a charity on 4 March 1975. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Trust adopted revised Articles of Association on 26 July 2017. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of trustees
The affairs of the Trust are managed by the trustees. The number of members of trustees shall not be less three.
Individual members are appointed for a term of three years. Members retire by rotation under Article 10.7 of the Memorandum and Articles of Association.
Trustees are selected having regard to the skills, knowledge and experience needed for the effective administration of the Charity.
Organisational structure
The trust relies on the support of volunteers, and procures the services of independent experts as and when required.
Related parties
Full disclosure of all related parties and the transactions therewith are contained in the notes to the financial statements.
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DERBYSHIREHISTORIC BUILDINGS TRUST imited by Guarantee
Report of the Trustees and Directors for the Year Ended 31 December 2023 (Continued
Risk management
The trustees continue to identify, monitor and advise on the major business risks that face the Trust. The trustees are content that the major risks have been identified and appropriate measures are in place so that, under normal circumstances, the potential impact on the Trust will be minimised should any of those risks materialise. The Trust applies for grants to minimise the financial risk of project costs.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust’s aim is to identify neglected or abandoned historic buildings in the County of Derbyshire in danger of decay or demolition, and to work for their preservation and modemisation without damage to their essential character. The Trust co-operates in the compilation of Derbyshire County Council’s list of historic buildings judged to be at risk from neglect or misuse. The Trust’s policy is to acquire only those buildings for which no other restorer or purchaser appears. Where possible it persuades others to undertake the work, to sell or to find an appropriate other use, usually by giving advice or sometimes through a feasibility study.
Significant activities
In 2023, the Trust successfully completed the restoration of Wingfield station. During 2024, the station will be let to a tenant at a normal commercial rent. The Trust has been involved in the early stages of the development of several other restoration projects. It is to early to predict the outcome of these efforts.
Volunteers
The Trust makes use of volunteers as required to further the aims and objectives of the Trust.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The work of the Trust is in advising owners of the preservation of historic buildings in and around the County of Derbyshire, and carrying out feasibility studies to aid in their preservation when requested to do sO.
Investment performance
Investments have performed in line with the trustee’s expectations for the year. Performance represents an improvement over previous years after a review by the directors. Investment income represents rent and service charges receivable and interest receivable for the year.
Internal and external factors
The Trust has identified a list of the county’s 12 most important buildings in need of restoration. The Trust seeks to encourage owners, or potential purchasers of historic buildings to undertake work of restoration or preservation on these any other buildings that come to the Trust’s notice.
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DERBYSHIRE HISTORIC BUILDINGS TRUST
(Limited by Guarantee)
Report of the Trustees and Directors for the Year Ended 31 December 2023 (Continued
FINANCIAL REVIEW
Reserves policy
The trustees consider that the present level of reserves is sufficient to enable the Trust to activate and research new projects prior to receipt of grants. The trustees are confident that the Trust has adequate free reserves to provide financial stability over all activities and further developments of the Trust.
Principal funding sources
Principal funding sources include rent received from properties and grants from local and national bodies. The Trust also seeks to raise funds from individuals and organisations to help with individual projects and activities. Investment policy and objectives : Under its Memorandum and Articles of Association, the Charity has the power to make any investment which the Trustees see fit.
CONNECTED CHARITY
There is no Charity which is a connected Charity to the Trust.
STATEMENT OF TRUSTEE’S RESPONSIBILITIES
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concer basis unless it is inappropriate to presume that the charitable company will continue in business.
‘The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DERBYSHIREHISTORIC BUILDINGS TRUST Limited by Guarantee
Report of the Trustees end Directors for the Year Ended 31 December 2023 (Continued)
STATEMENT AS TO DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINERS
So far as the trustees are aware, there is no relevant information (as defined in the Companies Act 2006) of which the charitable company’s independent examiners are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any relevant information and to establish that the charitable company’s independent examiners are aware of that information.
Independent Examiners
A resolution proposing Hunter Jones Alton be re-appointed as independent examiners of the charity will be put to the members at the Annual General Meeting.
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Approval
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This report has been approved by the trustees and is signed on its behalf:
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DERBYSHIREHISTORIC BUILDINGS TRUST (Limited by Guarantee)
Report of the Independent Examiners to the Members of Derbyshire Historic Buildings Trust
We report on the financial statements for the year ended 31 December 2023 on pages seven to thirteen which have been prepared under the historical cost convention and the accounting policies set out on page nine.
Respective respousibilities of trustees and examiners
As described on pages two to five the charity’s trustees who are also the directors of the Derbyshire Historic Buildings Trust for the purposes of company law, are responsible for the preparation of financial statements 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ofmy 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.
Basis of independent examiners’ report
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Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide ali the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the accounts.
I have completed my examination. I confirm that no material matters have come to my atiention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
» the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part ofan independent examination; or
*the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concems 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.
Signed... poner... coeAK........Dated: ia /08 JRorA. . Name:. FIOMAL..ELAINE. CLAIRE... BENNETT
Relevant professional body: Institute of Chartered Accountants in England and Wales (CAEW)
Hunter Jones Alton
Chartered Accountants 36 Bridge Street Belper Derbyshire , DES6 1AX
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Statement of Financial Activities for the Year Ended 31 December 2023
DERBYSHIREHISTORIC BUILDINGS TRUST imited byGuarantee
| SummaryIncome&ExpenditureAccount | ||||
|---|---|---|---|---|
| Notes | Unrestricted | Total | Total | |
| Funds | ||||
| 2023 | 2022 | |||
| £ | £ | £ | ||
| INCOMINGRESOURCES | ||||
| Investment income | 2 | 20,777 | 20,777 | 14,603 |
| Interestreceived | 2 | 2,156 | 2,156 | |
| 22,933 | 22,933 | 14,603 | ||
| Incomingresourcesfrom charitable | 3 | |||
| activities | ||||
| Grants inrespectofthepreservationof | 881,451 | 881,451 | $17,552 | |
| buildings | ||||
| Events | 1,685 | 1,685 | 19,550 | |
| Donationsandlegacies | 10,255 | 10,255 | 8,821 | |
| $93,391 | $93,391 | 545,923 | ||
| TotalIncomingResources | 916,324 | 916,324 | 560,526 | |
| RESOURCES EXPENDED | ||||
| Charitable activities | ||||
| Charitableexpenditure | 4 | 960,276 | 960,276 | 531,871 |
| Support costs | 5 | 22,041 | 22,041 | 19,205 |
| Governance costs | 6 | 570 | 570 | 590 |
| TotalResourcesExpended | 982,887 | 9$2,887 | 551,666 | |
| NETINCOMING/(OUTGOING | (66,563) | (66,563) | 3,860 | |
| RESOURCES | ||||
| RECONCILIATION OFFUNDS | ||||
| Totalfunds broughtforward | 452,424 | 452,424 | 443,564 | |
| TOTALFUNDS CARRIED | 385,861 | 385,861 | 452,424 | |
| FORWARD |
The notes on pages 9 to 13 form part of these financial statements
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DERBYSHIREHISTORIC BUILDINGS TRUST (Limited by Guarantee)
Balance Sheet as at 31 December 2023
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|---|---|---|---|---|---|---|
|Notes|2023|Unrestricted|2022|Total|
|Fixed|Assets|
|Tangible|assets|10|630,000|330,000|
|Current Assets|
|Debtors:|amounts|falling|due|ll|161,521|23,501|
|within one|year|
|Cash|at bank &|in hand|117,601|260,224|
|279,122|283,725|
|Creditors:|Amounts|falling|12|73,261|11,301|
|due within one|year|
|Net|Current Assets|205,861|272,424|
|Creditors:|Amounts falling|13|450,000|150,000|
|due|after one year|
|NET ASSETS|385,861|452,424|
|Funds|
|Unrestricted|funds|14|385,861|452,424|
|TOTAL FUNDS|385,861|452,424|
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On Behalf of the Board
a.} For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
b.) The company has not been required to obtain an audit in accordance with section 476 of the Companies Act 2006;
c.} The Members acknowledge their responsibility for:
i.) ensuring the company keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006; and
i.) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Companies Actrelating to. accounts, so far as applicable to the company.
d.) The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Small Entitjes (effective April 2008).iC . ;
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MrD Lath 7 an L
Dir Webster ee, ee
Date: The[ notes on pagesb V+9 to 13 form part of these financial statements
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i ACCOUNTING POLICIES
DERBYSHIREHISTORIC BUILDINGS TRUST imited byGuarantee
Notes to the Financial Statements for the Year Ended 31 December 2023
Accounting Convention
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the Trust is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Membership
Income from life memberships is accounted for on receipt.
Grants received
Grants received are recognised in the period in which the Trust is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the Trust has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Resources expended
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.
Allocation and apportionment of costs
All costs incurred are in relation to charitable expenditure. Governance costs include fees for the preparation of the accounts and external independent examination costs.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.
Office and cormputer equipment
- 25% on reducing balance
Depreciation is not charged on freehold land and buildings where the assets are continually maintained to a high state ofrepair, improved or extended from time to time, such that their useful economic lives are so long and residual values, based on latest valuations, so high that any depreciation is immaterial, such assets being subject to annual impairment reviews.
Investment property
In accordance with the Financial Reporting Standard for Smaller Entities, (effective April 2008), investment property is not depreciated. This departure from the requirements of the Companies Act 2006 for all properties to be depreciated is, in the opinion of the Council of Management, necessary for the financial statements to give a true and fair view. The property is included in the financial statements at its open market value in accordance with the requirements of the Statement of Recommended Practice “Accounting and Reporting by Charities’ (SORP 2005) issued in March 2005.
The investment is included at market value.
Taxation
The Trust is exempt from corporation tax on its charitable activities.
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DERBYSHIRE HISTORIC BUILDINGS TRUST
(Limited by Guarantee
Notes to the Financial Statements for the Year Ended 31 December 2023
ACCOUNTING POLICIES- continued
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 Trust. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements. :
2 INVESTMENT INCOME
2023 2022
£ £
Rents and service charges 20,777 14,603
Interest receivable 2,156
22,933 14,603
3 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Activity 2023 2022
£ £
Grants in respect of the preservation ofbuildings 881,451 $17,552
Events ; 1,685 19,550
General donations 10,255 8,821
893,391 545,923
4 CHARITABLE ACTIVITIES COSTS
Direct costs Support costs Totals
(See note 5)
£ £ £
Charitable expenditure 960,276 22,611 982,887
5 SUPPORT COSTS
Management
£
Events 618
Office costs 21,423
22,041
6 GOVERNANCE COSTS
2023 2022
£ £
Professional fees 570 590
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7 NET INCOMING/(OUTGOING) RESOURCES
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DERBYSHIRE HISTORIC BUILDINGS TRUST (Limitedby Guarantee)
Notes to the Financial Statements for the Year Ended 31 December 2023 (Continued)
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|---|---|---|---|
|2023|2022|
|:|£|£|
|Net resources|are|stated|after charging/(crediting):|
|Independent examiners’|remuneration|570|590|
|Depreciation-|owned asset|195|
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8 MEMBERS’ REMUNERATION AND BENEFITS
There were no trustee remuneration, other benefits or expenses for the year ended 31 December 2023 nor for the year ended 31 December 2022
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STAFF COSTS
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|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Wages and salaries|Nil|Nil|
|The average monthly number of staff employed during|the year was|as follows:|
|2023|2022|
|£|£|
|Administration|Nil|Nil|
|No|employee received remuneration of|more than £50,000.|
|TANGIBLE FIXED ASSETS|
|Freehold|Leasehold|Office|and|Totals|
|property|property|computer|
|equipment|
|£|£|£|£|
|Cost|or Valuation|
|As|at|1|January 2023|180,000|150,000|22,437|352,437|
|Additions|300,000|300,000|
|As|at 31 December 2023|480,000|150,000|22,437|652,437|
|Depreciation|,|
|As|at|1|January 2023|22,437|22,437|
|Charge for the|year|
|As|at 31|December 2023|22,437|22,437|
|Net Book Value|
|At 31|December 2023|480,000|150,000|0|630,000|
|At 31|December 2022|180,000|150,000|0|330,000|
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DERBYSHIREHISTORIC BUILDINGS TRUST (Limited by Guarantee)
Notes to the Financial Statements for the Year Ended 31 December 2023 (Continued
Cost or valuation at 31 December 2023 is represented by:
| Freehold | Leasehold | Officeand | Totals | |
|---|---|---|---|---|
| property | property | computer | ||
| equipment | ||||
| £ | £ | £ | £ | |
| Valuation Cost |
180,000 300,000 480,000 |
150,000 150,000 |
22,437 22,437 |
180,000 472,437 652,437 |
Frechold land and buildings were valued by trustees at 31 December 2023 based on a valuation carried out on 1 October 2013 by Milner Commercial Chartered Surveyors ofDerby in accordance with the Valuation Professional Standards (Red Book) effective March 2012 issued by the Royal Institution of Chartered Surveyors to reflect market value at the valuation date taking m to account various lettings and other occupational arrangemenis.
The freehold land and buildings were developed by the Trust with the aid of substantial grant assistance. Part of the property is occupied by the Trust and the remainder is sub-let.
If the freehold land and buildings had not been revalued it would have been included at the following historical cost:
| following historical cost: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Cost | 10,379 | 10,379 |
Leasehold land and buildings relate to the lease on Eccles House Farm which was taken over as part of the merger with the Peak Park Trust in July 2020. The ‘farm’ is a listed building with small business units.
li DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade debtors—rents due | 9,049 | |
| Trade debtors—other | 117,274 | 12,964 |
| VATdebtor | 44 247 | 1,488 |
| Accruedincome | ||
| 161,521 | 23,501 |
12 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 63,261 | 10,731 |
| Wingfield Stationredecorationprovision | 10,000 | |
| Accruedexpensesanddeferredincome | 570 | |
| 73,261 | 11,301 |
a PDs
DERBYSHIREHISTORIC BUILDINGS TRUST (Limited by Guarantee)
Nates to the Financial Statements for the Year Ended 31 December 2023 (Continued
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|---|---|---|---|
|13|CREDITORS: AMOUNTS FALLING AFTER ONE YEAR|2023|2022|
|£|£|
|Wingfield|Station|300,000|
|Creditor re Eccles House Farm|lease|150,000|150,000|
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Wingfield station was substantially financed by grants from Historic England and National Heritage. A condition of these grants was that the Trust should not sell Wingfield station for a period of ten years, unless it was willing to repay the grant or pass the sale proceeds to the grant providers, whichever is the smaller.
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|---|---|---|---|
|14|MOVEMENT IN|FUNDS|
|At|Net|Revaluations|At|
|1.01.23|movementin|in 2023|31.12.23|
|funds|
|Unrestricted|funds|
|General funds|452,424|(66,563)|385,861|
|TOTAL FUNDS|452,424|(66,563)|385,861|
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Net movement in funds, included in the above are as follows:
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|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General fund|916,324|982,887|(66,563)|
|TOTAL FUNDS|916,324|982,887|(66,563)|
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DERBYSHIRE HISTORIC BUILDINGS TRUST (Limited by Guarantee)
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
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|---|---|---|---|---|
|2023|2022|
|£|£|
|INCOMING RESOURCES|
|Investment|income|
|Rents|and service charges|20,777|14,603|
|Interest receivable|2,156|
|22,933|14,603|
|Incoming|resources|from|charitable|activities|
|Grants|881,451|517,552|
|Events|1,685|19,550|
|General|donations|10,255|8,821|
|$93,391|545,923|
|Total incoming resources|916,324|560,526|
|RESOURCES EXPENDED|
|Charitable|activities|
|Preservation projects|960,276|531,871|
|ProfessionalGovernancefeescosts|;|570|590|
|Support|costs|- Management|
|Office|costs|21,423|19,010|
|Events|618|
|Depreciation|195|
|22,041|19,205|
|Total resources expended|982,887|551,666|
|Net income/(expenditure)|(66,563)|8,860|
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This page does not form part of the statutory financial statements
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