2022-03-31-accounts

Charity No. 508357 Hoghton Tower Preservation Trust Unaudited Financial Statements For The Year Ended 31 March 2022

HOGHTON TOWER PRESERVATION TRUST CONTENTS Page Legal and administrative details Trustees, annual report Independent examinerfs report Statement of financial activities (incorporating the income and expenditure accounti Balance sheet Notes to the accounts

HOGHTON TOWER PRESERVATION TRUST LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022 Registered charity name Hoghlon Tower Preservation Trust Charity registration number 508357 Registered office Hoghlon Tower Hoghlon Preston Lancashire PR5 OSH The trustees The Iruslees who served the charity during the period were as follows '_ Mary E Langford Arwell Lewis Ellie C Botti Duccio M Faraoni Elena Faraoni Edward Perry Accountants and Independent Examiners MHA Moore and Smalley Chartered Accountants Richard House 9 Winckley Square Preston Lancashire PR13HP

HOGHTON TOWER PRESERVATION TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Introduction The trustees present their report and financial statements for the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 to 11 which comply with the charity's Trust Deed, dated 27 October 1978, and applicable law. The charity is a registered charity, number 508357. The financial statements have been prepared in awordance with the accounting policies set out in the notes to the accounts and comply with the charity's goveming document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102lleffective October 20191. Structure. governance and management Statutory background.. governing document The Hoghton Tower Preservation Trust (Charity) is an unincorporated trust, ¢onslituled under a Trust Deed dated 27 October 1978. The charity was established by Sir Bernard de Hoghlon Bl DL with an initial restoration fund lo be held and applied by the Trustees for the purposes of the preservation and maintenance of Hoghton Tower for the public benefit. Organisation and structure Recruitment, appointment and training of trustees The Iruslees of the Charity are shown on page 1. The Trust Deed gave the power to appoint new trustees lo Sir Bernard de Hoghton Bt DL who resigned from the Board in 2015. A new Chair was appointed by Sir Bernard de Hoghton who has been assigned the right to appoint new Trustees lo the Charity Board. The Trust Deed stipulates that there musl be a minimum of three trustees serving at any time and a maximum of seven Iruslees. Trustees have been recruited on the basis of their established credentials in their respective areas of professional eX￿rtISe and they have been asked to bring the full benefit of their experience and skill sel lo support the Charity at board level. All trustees 0￿rate on an entI￿lY voluntary basis. The Trust Deed states that any trustee who is absent from all meetings for a period of more than eighteen months shall cease to be a trustee. The Trustees meet as a minimum every 3 months but communicate More frequenlly via email outside of Meetings or have zoom meetings as required. New trustees receive information about the Charity, ils aims and objectives and are given a tour of the Tower and meet stsff and volunteers. Trustees are encouraged to attend appropriate external training where this will facilitate the undertaking of their role. In addition lo this, the Iruslees gain regular updates from their professional advisers and Charity Commission bulletins are circulated to all Trustees. Organisational structure The charity is currently supervised by six trustees who meet regularly lo supervise the strategic and administffttive organisation of the charity. The charity depends to a large degree on the trustees, executive direction and energy. Trustees assist on operations as much as possible as a way of understanding all issues thoroughly and supporting the small number of staff. Key management personnel The Iruslees are supported by a small staff and a body of volunteer guides. There are no key management personnel.

HOGHTON TOWER PRESERVATION TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Trading Subsidiary Hoghton Tower Ltd operates as Hoghlon Tower Preservation Trust's trading arm and the Chair of the Board of Trustees is Hoghton Tower Ltd's director. Charity has three main 'objects' as follows.. 1. The restoration and preservation of Hoghton Tower, a fortified Tudor Elyzabethan manor house, considered to be a building of outstanding historical and architectural importance, both to its locality and the nation. 2. Providing access for the benefit and enjoyment of the public and, where possible, the advancement of education as related lo the house and ils historic eras. The latter objective seeks lo encourage and foster historic research into both the history of Hoghton, as well as the county of Lancashire with special referen￿ lo historic documents and records. 3. Fostering public education and interest in mallers connected with the preservation of the flora and fauna in Hoghton and the environment generally in the county. Public benefit In establishing the objects of the charity, the Iruslees have had due regard to the guidance published by the Charity Commission on public benefit. Strategic Plan A full strategic review of the TrLJSt's Business Plan was carried out in early 2021 thanks lo CultLJral Recovery Funding. This concentrated on how the charity can regain stability and resilience by focussing on increasing efficiency in operations, developing a better understanding of our key audiences, increasing our use of data to inform management decisions underpinned by a more robust data model and mapping out key strategic priorities into the next 4 years. Vision to 2024 'The foundation is sound. From the financials to the families, from the experience to the exploration, Hoghlon Tower has strong foundations built on evidence and mortared with monitoring so that good decisions are easier to make., Financial review The surplus ft)r the year amounted lo £180,178 12021.. Surplus of £53,485). Expenditure in the year on charitable activities has been £188,561 12021". £176,761). Risk management The Trustees examine the organisalional risk register at every board meeting in particular those risks relating lo the financial position and the ongoing operations. They are satisfied that systems are in place lo mitigate the major risks in particular having driven the organisalion through the pandemic.

HOGHTON TOWER PRESERVATION TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Reserves policy The Trustees have reviewed the Charity's need for reserves in line with the guidan￿ issued by the Charity Commission. Taking this into account, the Trustees have established that the target is to hold reserves equal to 3 months expenditure. At the year end, free reserves were £130,45212021.' deficit of £4, 1041. Review of 2021122 The Trust continues with ils mission to protect this important heritage asset in Lancashire. The meticulous day- to-day care of the house, gardens and grounds is key lo the preservation of the Tower. The Trust has maintenance plan which continues to be the guide for the ne￿$Sary care and conservation work. Hoghton Tower reopened for a full season in April 2021 in line with the applicable Covid guidelines of the time. The Trust was awarded £116,500 under the Continuity Support Scheme to be applied across a range of cost areas, over the period from grant award lo 31 st March 2022. This was an essential life line for the staff and operations. The team worked hard to drive the Charity's business plan forward and reacting quickly lo all the new challenges as they arose. The grant enabled the organisalion to.. Protect heritagè by allowing essential maintenance work lo be undertaken". this included essential rain water goods slabilisation work, chimney stack repairs, repair of windows as well as all the key planned and preventative maintenance. Setting the Trust on the right path to nel zero". two wood burning stoves have replaced old and ineffi'cient ones. In addition, the grant enabled the Trust lo commission a full report on altemative healing solutions for the main stale rooms. Improving data collection work to better understand our audience and staff have had the opportunity to take fi'nancial analysis training. The year remained a significantly challenging one however.. Income challenges including lower levels of wedding and corporate bookings which normally would have formed the foundation of earnl income as well as a very gradual return to pre pandemic visitor numbers Expenditure challenges which include cost increases across the full range of activities Operational challenges.. difficulties lo recruit and relain staff al the levels of salaries possible as well as staff sickness due lo Covid. Difficulty lo attract and retain volunteers All this against uncertainly on the world stsge which will impact the medium to long term likelihood of visitorsl clients lo commit lo visit or booking. Visitor Numbers, Events and Income Generation In 2021-22 the house open season of the house and grounds was between April- September (Thursdays lo Sundays on a prebooked basis). The numbers were still lower than pre covid seasons. A lolal of 26,229 people visited the Tower in some way in the year. 3,539 visitors took a tour of the house and gardens. Some of the regular fundraising events could be held In the year such as small ghost lour and outdoor theatre. Some of the larger outdoor events such as Supercar or Classic Car did not run. Trading activities were carried out by the trading arm, Hoghton Tower Ltd including.. The'merchanl of Hoghlon la monthly farmers markell ran regularly self-calering holiday accommodation in the Irishmans Tower Tea room operation The shop was not reopened. Press and Publlclty The Trust has continued to develop the Hoghton Tower website. Social media figures continue to increase.

HOGHTON TOWER PRESERVATION TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Review of 2021122 Continued Education, Learning and volunteer engagement School visits started slowly in the year with 642 children visiting. Volunteers." The Trust continues to be grateful for the tireless energy and commitment of a core of dedicated volunteers without whom a lot of the work undertaken would be imF)ossible. The volunteers help to guide visitors round the house and gardens, design events and run them, help with ticketing, welcoming visitors as well as helping in the office. We certainly count our Trustees amongst these volunteers and thank them also for the guidance and direcb'on. Restoratlon, Preservatlon and Grounds Malntenance Spending on essential resloralive works to the house continued within the year. Some of the highlights of this year include.. Roof and chimney repairs works Continued repairs to rainwater goods around the Tower as well as gable end finial inspection and stabilisation Tree work in the grounds following the annual tree inspection Additional inslallalion of highly efficient wood burning stoves Investment in staff The Trust continues to have a very small staff establishment, with 3 FTES as well as a number of part lime roles in particular in the catering operations. Looking Forward 2022123 The priorities will be as follows.. Repairing the roof of the Coach House Operational slabilty". we will continue to update our financial, risk management, health and safety processes. Embedding the priorities as agreed in the business plan review Continuing to embed our marketing plan -F Elena Faraoni Date.. 2111212022

HOGHTON TOWER PRESERVATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2022 I report to the charity Iruslees on My examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 7 to 19. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Act'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145lSllbl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act", or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent examination I have no concerns and have come across no other mallers 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. Nicola Mason Ilndependent Examlner) For and on behalf of MHA Moore and Smalley Chartered Accountants Preston Date.. 2111212022

HOGHTON TOWER PRESERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2022 Total funds 2022 Total funds 2021 Unr9$trictod funds Rgstrictgd funds Income from: Donations Charitable a¢livilies Other trading activities Investment income 75,144 56,287 32,703 75,144 260,887 32,703 13,669 203,839 12,736 204.600 Total 164,139 204.600 368,739 230,246 Expenditure on.. Raising funds Charitable activities 35,713 98,043 35.713 152,848 14,604 162,157 54,805 Total 133,756 54,805 188.561 176,761 Net incomellexpenditure) 30,383 149.795 180,178 53,485 Transfers between funds 204,600 1204.600) Net movement In fund8 234,983 154.805) 180.178 53,485 Roconclllatlon of funds: Totsl funds brought forward 12,259 121.813 134,072 80,587 Total funds carrled foThvard 15 247,242 67,008 314.250 134,072 All of the above amounts relate to continuing aclivilies.

HOGHTON TOWER PRESERVATION TRUST BALANCE SHEET AS AT 31 MARCH 2022 Total funds 2022 Total funds 2021 Unrestricted Restricted funds funds Flxed assets Intangible assest Tangible assets Heritage as￿lS Investments 7,200 77,178 32,410 7,200 139.655 32,410 9.000 146,354 32,410 62,477 10 11 116,790 62,477 179.267 187,766 Current as$èt$ Debtors". Amounts falling due within one year Cash al bank and in hand 12 101,047 173,111 101,047 177.642 49,516 99,015 4,531 274,158 4,531 278.689 148,531 Credito￿. amounts falling due within one year 13 138,2301 138.2301 194,7741 Net current assets 235,928 4,531 240.459 53,757 Total assets less current liabilities 352,718 67,008 419.726 241,523 Creditors: amounts falling due after more than one year 14 1105,4761 (105,4761 1107,451) Net assets 247,242 67,008 314,250 134,072 Funds: Unrestrirted funds Restricted funds 247,242 247.242 67.008 12,259 121,813 67,008 Total funds 15 247,242 67,008 314.250 134,072 The financial statements were approved by the trustees on th&111212022 by.. and are signed on their behalf Eiena Faraoni

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcles The address of the registered office is given in the charity Information on page 1 of these financial stalemenls. The nature of the charity's operations are the restoration and preservation of the tower as a building of historic interest for the benefit and education of the community al large. The principal accounting policies adopted, judgements and key sources of eslimalion uncertainty in the preparation of the financial statements are as follows. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive October 20191- (Charities SORP IFRS 10211 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional current of the charity and rounded lo the nearest £. The financial statements have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive October 20191 (Charities SORP IFRS 10211 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Hoghlon Tower Preservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially rec￿niSed al historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Preparation of the accounts on a going concern basis The trustees are required to assess whether the use of going concern is appropriate, ie. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going Concern. The Iruslees make this assessment in respect of a period of al least one year from the dale of authorisation of issue of the accounts. They have concluded that the charity has adeqLJate resoLJrces to continue in operational existence for the foreseeable future and there are no material uncertainties about the charitable company's ability to continue as a going concern. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts. Incoming resources Income is recognised when the charity has entillemenl to the funds, any performance conditions attached to the item of income have been mel, it is probable that the income will be received and the amount Can be measured reliably.

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcles {contlnuedl Fund accounting Unreslricled funds can be used in accordance with the charitable objectives at the discretion of the trustees in furtherance of the geneml objectives of the charity and which have not been designated for other purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular reslricled purposes. Resources expended Expenditure is recognised On￿ there is a legal or constructive obligation lo make a payment to a third party, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings". Costs of raising funds comprise the costs to provide schoovprivate tours and other fundraising events. Expenditure on charitable activities includes the costs of charitable activities undertaken directly to further the purposes of the charity and their associated support costs. Taxation The Trust is a registered charity and therefore is not liable for income tax or corporation tsx on income derived from its charitsble activities, as it falls within the various exemptions available to registered charities. Herltage assets Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated 21 cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference lo market prices. Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefit lo the users of the accounts then heritage assets are not recognised on the balance sheet. The Trust owns part of a collection of Dollshouses which is included in the accounts at a value of £32,410. Depreciation is not provided on heritage assets. The Dollshouse collection is included in the tour of Hoghlon Tower provided during public and private viewing. Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost, nel of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.. Fixtures, fittings and equipment Leasehold improvements 20010 p.a. straight line 20/0 p.a. straight line Investments Investments in subsidiaries are measured at cost less impaimient. -10-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Flnanclal Instruments The charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Judgements and key sources of estimation uncertainty The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the Most significant effect on amounts recognised in the financial slatemenls.. Valuation of heritag& assets As detailed in accounting policies, the charity values heritage assets donated at fair value with reference lo market pri￿$. The valuation of the heritage assets requires judgements to be made regarding the fair value. There have been no key assumptions concerning the future and other key sources of estimation uncertainty al the reporting date that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year. Income from donations Unrestricted Restricted funds funds Total 2022 Total 2021 Thomas de Hoghlon - donation Sundry donations 50,000 25,144 50,000 25,144 13,669 75,144 75.144 13,669 Income from donations in the current and prior year was all unrestricted.

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Incoming resources from charitable adivities Unrestricted Restricted funds funds Total 2022 Total 2021 Gate monies &ant incorr 30,251 26,036 30,251 230 636 6,612 197,227 204,600 56,287 204,600 260,887 203,839 Total Total 2021 2022 Grants received in year Nab"onal Heritage Lottery Fund - Cu￿Ural recovery grant National Heritage Lottery Fund - Emergency Comd 19 Grant Historic England The Arcilectural Heritage Fund other Coifid recovery grants 204.600 106.700 33,800 26.297 30,430 230 636 197 227 The income from charitable activities was £260,887 of which £56,287 {2021.' £6,612) was unrestricted and £204,60012021 £167,227) was restricted. Incoming resourte$ from trading activities Unrestricted Restricted funds funds Total 2022 Total 2021 Fundraising events 32,703 32.703 12,736 32,703 32.703 12,736 The income from trading activities was £32,70312021'. £12,736) all of which was unrestricted. -12-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of expenditure Total funds 2022 Total funds 2021 Basls of allocation Ralslng Charltable funds activities Directly allocated to activities Wages and salaries F￿?￿erS and gardening Repairs and maintenance Event costs Direct Direct Direct Direct 210 83,438 210 83,438 22,433 6,422 30,885 18,269 4,834 22,433 Caslle Studies Project costs Support costs Wages and salaries Rates Heat and light Marketing, printing and postage ITcosts Insurance Bank charges Sundries Depreciation An￿rtisatiOn Direct Stsff ti Equal Equal Equal Usage Usage Equal Equal Usage Usage Direct Direct Direct 9,292 75 499 34,164 9,292 225 1,4 36,345 29,074 150 997 2,181 1,543 12,003 7,153 25,526 725 1,023 7,048 492 877 6,982 402 1,200 7,706 439 3,487 6,296 600 8,198 1,316 10,469 6,698 1,800 1,033 1,535 900 Training Legal and professional Loan interest 1,033 1,535 900 26,950 9CKJ Accountancy and ￿0kk*p1ng Direct 3,173 3,173 4,406 35,713 152,848 188.561 176,761 Total resources expended were £188,561 12021. £176,761), of which £54,805 12021 £141,405) was reslricled and £133,75612021." £150,869) was unrestricted. -13-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Net lincominglloutgoing resources 2022 2021 Net resources are stated after charglngl{credltlng): Depreciation of tsnglb￿ fixed assets An￿￿'SatiOn of intangible fixed assets Independent eyaminab.on fee lexclusile of VAT) 6.698 1,800 1,750 6,838 1,600 Analysis of staff costs, trustee remuneration and expenses and the cost of key management personnel 2022 2021 Wages and sakries ScLial security costs 8.591 701 26,331 2,743 9.292 29,074 Analysis of staff costs. trustee remuneration and expenses and the cost of key management personnel Particulars of employees: The average number of employees during the year was as follows.. 2022 No 2021 No Number of staff No employees had employee benefits in excess of £60,000 per annum12021". £nill. The charity trustees were not paid and did not receive any other benefits from employment with the charity in the year 12020". £nill. Travelling and other reimbursed expenses and costs amounting to £2,37312021.. £3,548) were paid to trustees during the year. The key management personnel of the charity comprises of the board of trustees. The charity does not have any paid key management personnel. -14-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Intangible fixed assets Website Total Cost At 1 April 2021 Additions Disposals 9,000 9,000 At 31 Pl•rch 2022 9,000 9,000 Arnortisation At 1 April 2021 Charge for the year Effiminated on disp￿lS 1,800 1,800 At 31 March 2022 1,800 1.800 Net book value At 31 Nkrch 2022 7,200 7.200 At 31 March 2021 9,000 9,000 Tanglble flxed assets Fixtures. Lga$ehold ffttings & Improvements equipment Total Cost At 1 April 2021 Additions Disposa 154,806 29,678 184,484 At 31 March 2022 154.806 29.678 184,484 Depreciation At 1 April 2021 Charge for the year Elminated on disposa 17,430 3,096 20,700 3,603 38,130 6,699 At 31 March 2022 20.526 24.303 44.829 Net bcrf)k value At 31 March 2022 134.280 5.375 139.655 At 31 March 2021 137,376 8,978 146,354 Fixtures, fittings and equipment include £8,510 of assets which are not depreciated. -15-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 10 Herltage assets Dollshousfy coll￿tIon Valuation At 1 April 2021 Additions Revaluion 32,410 At 31 March 2022 32.410 The Dollshouse collection was valued in the year ended 31 March 2015 by Sl George Valuations. An additional dollshouses have been donated to the Charity since this valuation. A value has not yet been attributed lo this donation. Five ygar Summary of hgritaga asset transactions 2022 2021 2020 2019 2018 Cost brought forward Additions Revaluion 32,410 32,410 32,410 32,410 32,410 Cost carried forward 32.410 32.410 32.410 32,410 32.410 11 Investments Total 2022 Total 2021 In¥estnEnt in subsidiary The Charity owns 1000A of the issued share capitsl of Hoghlon Tower Limited, a company registered in England and Wales. During the year, the company made a profit of £12,20812021'. profil of £2,995) and as at 31 March 2022 had capital and reseNes of £16,54012021.' £4,332). -16-

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 12 Debtors: Amounts falling due within one year 2022 2021 Trade debtors other debtors Amount due from subsidiary undertakeing Prepayments and accrued income 366 13.996 26,813 59.872 564 16,492 32,460 101,047 49,516 13 Creditors: Amounts falling due within one year 2022 2021 Bank loan Trade creditors Accruals and deferred income Amunt due to subsidiary undertaking 2,408 28,422 7,400 433 57,366 7,186 29,789 38,230 94,774 14 Creditors: Amounts falling due after more than one year 2022 2021 Bank loan Other creditors 21,976 83,500 23,951 83,500 105,476 107,451 The charity has re￿iVed a bounce back loan during the year. The loan is repayable over 6 years and repayment begins 13 months after draw down. The loan is not secured on the assets of the charity.

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 15 Anatysis of charitable funds Current year At1 April Incoming Outgoing 2021 resources resources Transfers At31 March 2022 Unrestricted funds General fund 12,259 164,139 1133,7561 204,600 247,242 Restricted funds Windows restoration The Country House Association - Roof restoration Garfield Weston Foundation - Roof restoration Castle Studies Trust National Heritage Lottery Fund - Emergency Covid 19 Grant Historic England The Arcilectural Heritage Fund 1,000 11,0001 55,279 8,673 1,419 11,2751 12001 54,004 8,473 1,419 204,600 1204,6001 26,297 29,145 123,4301 28,900 2,867 245 Total restricted funds 121,813 204,600 54,8051 1204,6001 67,008 Total funds 134,072 368,739 1188,5611 314,250 Prior year At1 April Incoming Outgoing 2020 resources rosourcas Transfars At31 March 2021 Unrestricted funds (*neral fund 7,907 33,019 135,7161 7,049 12,259 Restricted funds Window5 restoration The Country Fbuse Association - Roof restoration Garfiekl Weston Foundation - Roof restoration Caslle Studies Trust National ￿rItage Lottery Fund - E￿rgencY Historic EngLand The Arcitectural Heritage Fund 1,000 1,000 56,554 8,873 6,253 (1,2751 {2001 {4,8341 140,500 (133,4511 17,0491 26,297 55,279 8,673 1,419 26,297 Total restrictgd fund$ 72.680 197,227 (141,0451 {7,0491 121,813 Total funds 80.587 230.246 (176,7611 134,072 The Country House Association and the Garfield Weston Foundation funds represent funds received for the resloralion of the roof. The Castle Studies Trust income is a grant to complete an archaeological dig al Hoghlon Tower. The Historic England grants was for window restoration. The Architectural Heritage fund grant was for the development of a marketing plan.

HOGHTON TOWER PRESERVATION TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 16 Net assets fund The current year split of assets by fund is included on the balance sheet. The split for the year ended 31 March 2021 is as follows.. Unrestricted Restricted funds funds Total 2021 Tangib￿ fixed assets Heritage assets InvestrYEnts Current assets Current liabilities Long term liabilib.es 91,402 32,410 63,952 155.354 32.410 90,670 194,774) {107,4511 57,861 148.531 {94,774} 1107.451) 12,259 121.813 134.072 17 Related party transactions The Charity leases propety al Hoghlon Tower from the De Hoghlon Settled Estate al a cost of £10 per year. In a separate lease the Charity leases the use of the Great barn and other ancillary outbuildings at Hoghton Tower from the De Hoghton Settled Estate al a cost of one peppercorn per year. The Charity has granted a licence to Hoghlon Tower Limited to allow the use of the propety for events and holiday lettings. In exchange, the company musl pay any residual profits to the Charity by way of a gift aid donation. During the year the Charity received a donation of £9,46412021 £nill from Hoghlon Tower Limited. There was also an amount of £26,813 due from Hoghlon Tower Limited12021 £29,790 due to Hoghton Tower Limited) at the year end. At the end of the year, the Charity had amounts due lo other related parties of £83,50012021.' £83,500).