2021-03-31-accounts - The Heritage Trust For The North West

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				Page
Report ofthe Trustees				1-5
Report ofthe Independent		Auditors
Consolidated statement of		financial	activities	9-10
Balance Sheets
Cash flow statement				12 - 13
Notes to the financial	statements			14-27

For the year ended 31a March		2021
			Notes			Total	Total
				Unrestricted	Restricted	Funds	Funds
				Funds	Funds	2021	2020
Income from:
Donations				14,010	28,265	42,275	38,600
Legacies					(75,000)	(75,000)
Charitable activities:
Revenue grants received				402,442	365,367	767,809	103,331
Capital grants received					12,376	12&376
Trading activities:
Trading activities				43,444		43,444	225,272
Services provided				144,758		144,758	403,151
Activity income				46,414		46,414	236,283
Other income				8,203		8,203	26,333
Investntent income:
Rents received				158,195		158,195	140,560
Interest received
Total incoming resources				817,466	331,008	1,148,474	1,173,530
Expenditure on:
Charitable activities:
Preservation and maintenance		of
heritage property				118,135	215,408	333,543	213,663
Raising funds:
Trading and other activity costs				506,791	85,483	592,274	841,075
Other:
Support costs				72,703	5,379	78,082	89,032
Finance costs				57,237		57,237	68,192
Total expenditure				754,866	306270	1,061136	1,211,962
Net income before recognised		gains/(losses)		62,600	24,738	87,338	(38,432)
Other recognised gains/(losses)
Revaluation offixed asset investments
Impairment offixed asset investments
Net income after recognised	gains/(losses)			62,600	24,738	87,338	(38,432)
Transfers between funds				(24,707)	24,707
Net movement in funds				37,893	49,445	87,338	(38,432)

or the year en	ded	31n March 2021
			Notes			Total	Total
				Unrestricted	Restricted	Funds	Funds
				FundsI	Funds	2021	2020
Net movement	in	funds		37,893	49,445	87,338	(38,432)
Reconciliation	offunds:
Total funds brought		forward		2&258,503	558,057	2,816,560	2,854,992
Total funds cerned		forward	19	2,296396	607,502	2903898	2,816,560

					Notes	Group		Company
						2021	2020	2021	2020
									f.
Fixed assets
Tangible assets					8	36,287	24,042	13,355	13,113
Heritage assets					9	1,068,469	1,068,469	1,077,721	1,077,721
Investment	property				10	3,785,398	3,785,398	3,785,398	3,785,398
Investments		in subsidiaries			12			501	501
						4,890,154	4,877,909	4,876,975	4,876,733
Current assets
Stocks					13	7,700	8,300
Debtors					14	240,132	270,388	303,644	333,784
Cash at bank		and in	hand			104,566	58,692	65,432	49,258
						352398	337,380	369076	383042
Current liabilities
Creditors: Amounts			falling due within one year		15	603,375)	708,717	582366)	680,582
Net current		liabilities				250,977)	371,337	213,290)	297,540
Total assets		less current liabilities				4,639,177	4,506,572	4,663,685	4,579,193
Creditors: Amounts			falling due after
more than	one year				16	(1,710,215)	(1,665,923)	(1,646,064)	(1,665,923)
Provision for liabilities				and charges	17	(25,064)	24,089)	(25,064)	24,089)
Net assets						2,903898	2,816,560	2,992557	2,889,181
Funds
Restricted					19a	607,502	558,057	546,445	577,521
Unrestricted					19I3	1&737,288	1,699,395	1,890,086	1,755,634
Revaluation		reserve			19b	559,108	559,108	556,026	556,026
					20	2,903,898	2,816,560	2,992,557	2,889,181

		Group
		2021	2020
Cash flows from operating	activities
Cash generated from operations		(44,034)	(34,517)
Interest paid		(3,884)	(3,327)
Net cash from operating activities		47,918	37,844
Cash flows from investing	activities
Rental income		158,195	140,560
Sale oftangible fixed assets
Purchase oftangible fixed assets		(20,323)
Interest received
Net cash from investing activities		137872	140,560
Cash flows from financing	activities
Loan advances		73,000	47,500
Loan repayments		(69,391)	(119,902)
Net cash from financing activities		3,609	72,402)
Increase/(decrease) in cash	and cash
equivalents		93,563	30,314
Cash and cash equivalents at	beginning
ofyear		(87,167)	(117,481)
Cash and cash equivalents	at end ofyear	6,396	87,167

			Group
			2021	2020
Net movement in funds			87,338	(38,432)
Income from mvesting	activities		(158&195)	(140,560)
Revaluation ofinvestment		property
Impairment ofinvestment		property
Depreciation charges			8,078	10,033
Loss on disposal offixed		assets
Finance costs			57,237	68,192
Finance income
			(5,542)	(100,767)
Decrease/(Increase) in	stocks		600	31,290
Decrease/(Increase) in	debtors		30,256	(22,695)
(Decrease)/Increase in	creditors		(69,348)	57,655
Net cash from operating	activities		44,034)	34,517)

Balan	ce Sheet amounts:
		Group
		31.03.21	01.04.20
Year	ended 31u March 2021
Cash	and cash equivalents	6,396	87,167
		Group
		31.03.20	01.04.19
Year	ended 31"March 2020
Cash	and cash equivalents	(87,167)	117,481

CHARITABLE ACTIVITIES
	Group		Company
	2021	2020	2021	2020
Chorley Borough Council		23,838		23,838
Forestry Commission		7,000		7,000
Fylde Borough Council	154,519	42,500	3,000	42,500
Historic England	34,110		34,110
Historic Houses Association	833	454	833	454
Job Retention Scheme	281,628	4,539	59,250	466
Lancashire County Council	9,669		9,669
National Lottery Heritage Fund	230,300		230,300
Pendle Borough Council	41,572		41,572
Pendle Hill Landscape Partnership	6,503
Pilgrim Trust		25,000		25,000
Ribble Valley Borough Council	11,051		11,051
Wigan Metropolitan Borough Council	10,000		10,000
	780,185	103,331	399,785	99,258

				Trading and	Trading and	other	other
		Charitable	objectives	activity				Support	costs	Total	Total
		Unrestricted	Restricted	Unrestricted	Restricted			Unrestricted	Restricted	2021	2020
						I		I			I
Preservation/maintenance
ofheritage property		2,101	90,273							92,374	17,246
Cost ofsales and	service
delivery			925	81,164		7,337				89,426	294,368
Staff wages and nic		80,273	48,731	307,252		39,246		56,515	1,802	533,819	567,380
Staff pensions		1,998		4,769				1,124		7,891	8,867
Rent and rates		45		6,953		2,046				9,044	9,427
Light and heat		3,987		29,623		2,404				36,014	49,528
Insurance			14,059	6,175		26,432				46,666	35,656
Telephone		2,507	-	4,450						6,957	7,618
Motor expenses		6,608		652						7,260	13,298
Travelling expenses		2,044		781						2,825	5,276
Advertising, publicity
and marketing		371	43,392	76						43,839	3,002
Postage, printing	and
stationery		217	3,231	1,976			414			5,838	8,342
Equipment hire		79	945	3,393			679			5,096	10,154
Repairs and renewals		6,803	3,970	25,952		5,765		1,618	364	44,472	30,536
Cleaning expenses		97	—	6,227			331			6,655	13,844
Security costs				5,704			388			6,092	5,649
Trade subscriptions
and licences				1,008				530		1,538	2,091
Training expenses				262						262	125
Accountancy		5,850		3,575				1,721	3,200	14,346	14,355
Legal and professional
fees		311	9,882	4,835				2,969		17,997	8,407
Auditors' remuneration		3,333	—	3,333				3,417		10,083	12,483
Bad and doubtful	debts			712						712
Sundry expenses		661		475				177		1,313	1,410
Bank charges				3,191				2,111		5,302	14,675
Depreciation		850		4,074			620	2,521	13	8,078	10,033
(Profit)/Loss on disposal
oflixed assets
		118,135	215,408	506,612		85,662		72,703	5,379	1,003,899	1,143,770

			Staff		Depreciation
			Costs	Other	etc	2021	2020
							I
Direct charitable		expenditure	131,002	201,691	850	333,543	213,663
Other expenditure:
Trading	and other activity costs		351,267	236,313	4,694	592,274	841,075
Support	costs		59,441	16,107	2,534	78,082	89,032
Finance	costs			57,237		57,237	68,192
			541,710	511,348	8,078	1,061,136	1,211,962

TAFF COSTS
						2021	2020
						5
Wages and salaries						510,085	537,613
Social security costs						23,734	29,767
Pension costs						7,891	8,867
						541,710	576,247
The average number ofpersons	employed		during	the year, including	the
trustee directors, analysed by function		was	as follows;			2021	2020
Management and administration						8	8
Charitable services						37	40
Clerical administration	and support					3	3
							51

NKT INCOME	AND EXPENDITURE FOR THE YEAR
This is stated	after charging:	2021	2020I
Operating leases —equipment		5,096	10,154
Depreciation		8,078	10,033
Loss on disposal offixed assets
Bank interest	payable	3,884	3,327
Loan interest	payable	53,353	64,865
Other interest	payable
Auditors remuneration:
Audit fees		10,083	12,483
Accountancy	services	14,346	14,355

	Projects and
	tenants	Plant and	Fixtures and	Motor
	improvements	machinery	fittings	vehicles	Total
COSTOR VALUATION
At 1"April 2020	32,066	16,715	275,071	26,136	349,988
Additions		2,245	18,078		20,323
Disposals				200)	200
At 31s March 2021	32,066	18,960	293,149	25,936	370,111
DEPRECIATION
At is April 2020	32,066	11,543	260,003	22,334	325,946
Charge for the year		1&036	6,089	953	8,078
Eliminated on disposal At31"March 2021	32,066	12,579	266,092	200 23,087	(200) 333,824
NET BOOK VALUE
At 31"March 2021		6381	27,057	2,849	36,287
At 31s March 2020		5,172	15,068	3,802	24,042

		Projects and
		tenants	Plant	and	Fixtures		and		Motor
		improvements	machinery		fittings				vehicles		Total
		5	8			5
	COST OR VALUATION
	At I a April 2020	32,066		16,715		141,658			10,441		200,880
	Additions			2,245				531			2,776
	Disposals
	At 31a March 2021	32,066		18,960		142,189			10,441		203,656
	DEPRECIATION
	At 1"April 2020	32,066		11,543		136,644			7&514		187,767
	Charge for the year			1,036				766		732	2,534
	Eliminated on disposal
	At 31"March 2021	32,066	12,579			137,410			8,246		190 301
NET BOOK VALUE
At 31"March 2021				6,381			4,779		2	195	13355
At 31"March 2020				5,172			5,014		2,927		13,113
	HERITAGE ASSETS
					Group						Company
					Total						Total
	COST OR VALUATION
	At 1"April 2020				1,068,469						1,077,721
	Additions
	Disposals
	At 31a March 2021				6 868	469					1,077,721
	NET BOOK VALUE
	At 31"March 2021				1,068,469						1,077,721
	At 31"March 2020				1,068,469						1,077,721

	Group	Company
	Total	Total
FAIR VALUE
At 1"April 2020	3,785,398	3,785,398
At 31"March 2021	3,785898	3,785,398

			Group	Company
			Total	Total
				8
At	31"March	2021	3,030739	5,054,115
At	31"March	2020	5,030,739	5,054,115

VESTMENTS
			Group		Company
		2021		2020	2021	2020
Unlisted investments:
L.H.T.Enterprises	Limited
2 Ordinary shares	off250 each at cost				500	500
Conservation Services N.W.Limited
1 Ordinary share	off.l at cost
					501	501

The following is a summ	ary ofthe trading subsidiari	es' results for the year:-
				Conservation	Services
		L.H.T.Enterprises	Limited	N.W. Limited I I
Turnover			408,355		91,857
Expenditure:
Cost ofgenerating	funds	295,396		107,895
Cost ofmanagement	and administration	112,959	408,355		107,895
Surplus/(Deficit)					16,038
STOCKS
		Group		Company
		2021	2020	2021	2020
		g
Goods for resale		7,700	8,300
		7,700	8,300

EBTORS
				Group		Company
				2021	2020	2021	2020
Trade debtors				7,437	18,051	290
Amounts due from subsidiary			undertakings			128,991	115,902
Grants receivable				27,287	2,064	27,287	2,064
Other debtors				183,233	227,000	132,797	205,000
Prepayments				22,175	23,273	14,279	10,818
				240,132	270,388	303,644	333,784
REDITORS: amounts	falling		due within one year
				Group		Company
				2021	2020	2021	2020
Trade creditors				144,792	134,917	93,795	56,041
Bank loans and overdrafts				1679776	202,795	158,927	202,973
Amounts due to subsidiary		undertakings				74,839	141,377
Other creditors				175,993	180,108	167,070	171,215
Other taxes and social	security			9,898	64,139	5,113	26,961
Accruals and deferred	income			29,916	51,758	7,622	7,015
Loans; Lytham Town	Trust			75,000	75,000	75,000	75,000
				603,375	708,717	582,366	680,582

REDITO	RS: amounts falling due after more than	one year
		Group		Company
		2021	2020	2021	2020I
Bank loans		1,710,215	1,665,923	1,646,064	1,665,923
Amounts	falling due in more than five years:
		Group		Company
		2021	2020	2021	2020
Repayable	by instalments
Bank loans: & 5 years		1,380,103	1,390,583	1,374,544	1,390,583

PROVISI	ON FORLIABILI	TIES AND CHARGE	S
			Group and Company	Group and Company
			2021	2020I
Provision	for the mamtenance	ofPendle
Heritage	Centre		25,064	24,089

		I"April			Transfers	Transfers	Revaluations and	31"March
		2020	Income	Expenditure	between	funds	Impairments	2021
Fixed assets			12,376	(633)				11,743
Lytham Hall (Stage II)			154,208	(86,788)		24,707		92,127
Dukinfield	project	200,000	(75,000)					125,000
Rose Castle	(Project
Officer)		3,057						3,057
Other projects		355,000	239,424	218,849				375575
		558,057	331,008	(306,270)		24,707		607,502

COMPANY
	I"April			Transfers	Revaluations and	31"March
	2020	Income I	Expenditure	between funds 8	Impairments	2021
Fixed assets		12,376	(13)	(620)		11,743
Lytham Hall (Stage 11)	22,521	44,708	(35,288)	2,186		34,127
Dukinfield project	200,000	(75,000)				125,000
Other projects	355,000	239,424	138,085)	80,764)		375 575
	577,521	221,508	173,386	79,198		546,445

								Revaluations
			1"April			Transfers		and	31"March
			2020	Income	Expenditure	between	funds	lmpairments I	2021
Designated:
General fund
Maintenance	of	Pendle
Heritage Centre		Fund	24,089				975		25,064
David Knightley		Trust	220,246						220,246
Undesignated:
General fund			1,455,060	817,466	(754,866)	(25,682)			1,491,978
Revaluation	reserve		559,108						559 108
			2,258,503	817,466	(754,866)	(24,707)			2,296,396
COMPANY
								Revaluations
			1"April			Transfers		and	31"March
			2020	Income	Expenditure	between	funds	Impairments	2021
					8
Designated:
General fund
Maintenance	of	Pendle
Heritage Centre		Fund	24,089				975		25,064
David Knightley		Trust	220,246						220,246
Undesignated:
General fund			1,511,299	247,701	(192,447)		78,223		1,644,776
Revaluation	reserve		556,026						556 026
			2,311,660	247,701	192,447)		79,198		2,446,112

		Restricted	Unrestricted	funds	Total
		Funds	Designated	Undesignated	2021
Tangible	fixed assets	361,743	270,374	4,258,037	4,890,154
Current	assets	245,759		106,639	352,398
Current	liabilities			(602,318)	(602,318)
Long term liabilities				(1,711,272)	(1,711,272)
Provisions			(25,064		25,064
		607,502	245,310	2,051,086	2,903,898

OMPANY
	Restricted	Unrestricted	funds	Total
	Funds	Designated	Undesignated	2021
Fixed assets
Tangible	361,743	270,374	4,244,357	4,876,474
Investments			501	501
Current assets	184,702		184,374	369,076
Current liabilities			(582,366)	(582,366)
Long term liabilities			(1,646,064)	(1,646,064)
Provisions		25,064		25,064)
	546,445	245,310	2,200,802	2,992,557