Charity No. 508357
Hoghton Tower Preservation Trust
Unaudited Financial Statements
For The Year Ended 31 March 2024
HOGHTON TOWER PRESERVATION TRUST
CONTENTS
| Page | |
|---|---|
| Legal and administrative details | 1 |
| Trustees’ annual report | 2 |
| Independent examiner’s report | 6 |
| Statement of financial activities (incorporating the income and expenditure account) | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 |
HOGHTON TOWER PRESERVATION TRUST
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024
Registered charity name Hoghton Tower Preservation Trust Charity registration number 508357 Registered office Hoghton Tower Hoghton Preston Lancashire PR5 0SH
The trustees
The trustees who served the charity during the period were as follows: -
Mary E Langford ArwelI Lewis Ellie C Botti Duccio M Faraoni Elena Faraoni Edward Perry (resigned December 2023) James K Belsak Accountants and Independent Examiners Triple Bottom Line Accounting Ltd The Enterprise Centre UEA, Norwich NR4 7TJ
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HOGHTON TOWER PRESERVATION TRUST
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Introduction
The trustees present their report and financial statements for the charity for the year ended 31 March 2024. 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 accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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 (FRS 102)(effective October 2019).
Structure, governance and management
Statutory background: governing document
The Hoghton Tower Preservation Trust (Charity) is an unincorporated trust, constituted under a Trust Deed dated 27 October 1978. The charity was established by Sir Bernard de Hoghton Bt DL with an initial restoration fund to 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 trustees of the Charity are shown on page 1.
The Trust Deed gave the power to appoint new trustees to 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 to the Charity Board. The Trust Deed stipulates that there must be a minimum of three trustees serving at any time and a maximum of seven trustees. Trustees have been recruited on the basis of their established credentials in their respective areas of professional expertise and they have been asked to bring the full benefit of their experience and skill set to support the Charity at board level. All trustees operate on an entirely 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 frequently via email outside of meetings or have zoom meetings as required.
New trustees receive information about the Charity, its aims and objectives and are given a tour of the Tower and meet staff and volunteers. Trustees are encouraged to attend appropriate external training where this will facilitate the undertaking of their role. In addition to this, the trustees 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 to supervise the strategic and administrative 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 trustees are supported by a small staff and a body of volunteer guides. There are no key management personnel.
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HOGHTON TOWER PRESERVATION TRUST
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Trading Subsidiary
Hoghton Tower Ltd operates as Hoghton Tower Preservation Trust’s trading arm and the Chair of the Board of Trustees is Hoghton Tower Ltd’s director.
The charity has three main ‘objects’ as follows:
-
The restoration and preservation of Hoghton Tower, a fortified Tudor Elizabethan manor house, considered to be a building of outstanding historical and architectural importance, both to its locality and the nation.
-
Providing access for the benefit and enjoyment of the public and, where possible, the advancement of education as related to the house and its historic eras. The latter objective seeks to encourage and foster historic research into both the history of Hoghton, as well as the county of Lancashire with special reference to historic documents and records.
-
Fostering public education and interest in matters 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 trustees have had due regard to the guidance published by the Charity Commission on public benefit.
Strategic Plan
A full strategic review of the Trust’s Business Plan was carried out in early 2021 thanks to Cultural Recovery Funding. This concentrated on how the charity can regain stability and resilience by focusing 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. It is clear given increasing costs and other challenges the plan needs to be flexed and reconsidered on an annual basis.
Vision to 2024 will be extended beyond
‘The foundation is sound. From the financials to the families, from the experience to the exploration, Hoghton Tower has strong foundations built on evidence and mortared with monitoring so that good decisions are easier to make.’
Financial review
The deficit for the year amounted to £81,561 (2023: Deficit of £113,676). Expenditure in the year on charitable activities has been £173,174 (2023: £195,336).
Risk management
The Trustees examine the organisational risk register at every board meeting in particular those risks relating to the financial position and the ongoing operations. They are satisfied that systems are in place to mitigate the major risks, in particular having driven the organisation through the pandemic.
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HOGHTON TOWER PRESERVATION TRUST
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Reserves policy
The Trustees have reviewed the Charity’s need for reserves in line with the guidance 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 £53,107 (2023: £132,838).
Review of 2023/24
The Trust continues with its mission to protect this important heritage asset in Lancashire. This was a very difficult year for the Trust with rising costs and dropping income across all income streams.
Hoghton Tower reopened for another open access season in April 2023 to mid-October 2023 although the house and grounds remained open year round for regular events and private bookings.
Visitor Numbers, Events and Income Generation
In 2023/24 the house open season of the house and grounds was between April- October (Thursdays to Sunday). A total of 38747 people visited the Tower in some way in the year. 4837 visitors took a tour of the house and gardens. Some of the regular fundraising events were run as normal this year.
Trading activities were carried out by the trading arm, Hoghton Tower Ltd including:
-
The “Merchant of Hoghton” (a monthly farmers market) ran regularly
-
Self-catering holiday accommodation in the Irishmans Tower
-
Tea room operation
-
The shop was not reopened but a limited amount of stock was sold via the ticket booth.
Press and Publicity
The Trust has continued to develop the Hoghton Tower website and is active on all main social media channels.
Education, Learning and volunteer engagement
School visits were significantly lower this year with 711 children visiting. The main reason for this, having discussed with local school contacts is the cost of coach/bus travel to the location.
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 impossible. 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 direction.
Restoration, Preservation and Grounds Maintenance
Spending on essential restorative works to the house continued within the year. Some of the highlights of this year include:
-
An upgrade of the fire alarm system for the whole building
-
The installation of an air source heat pump system for the Banqueting Hall
-
Repair of the ceiling in the Dolls House exhibition room and the Buckingham Bedroom
-
Various areas of patch roof repair in the inner and outer courtyards
-
Repair to hoppers and surrounding lead work in the inner courtyard.
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HOGHTON TOWER PRESERVATION TRUST
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Review of 2023/24 continued
Investment in staff
The Trust continues to have a very small staff establishment, with 3 FTEs as well as a number of part-time roles in particular in the catering operations.
Looking Forward 2024/25
The priorities will be as follows:
-
Ongoing patch roof repairs
-
Organising our staffing to be able to focus more on grant and fundraising projects rather than just operations.
………………………………………….
Elena Faraoni
Date:
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HOGHTON TOWER PRESERVATION TRUST
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to 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 requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Peter Ellington FAIA Triple Bottom Line Accounting Limited The Enterprise Centre Norwich NR4 7TJ
Date:
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HOGHTON TOWER PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
| Income from: Donations 2 Charitable activities 3 Other trading activities 4 Investmentincome Total Expenditure on: Raising funds Charitable activities Total 5 Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 15 |
Unrestricted Restricted Total funds Total funds funds funds 2024 2023 £ £ £ £ 12,747 - 12,747 3,752 52,588 - 52,588 50,539 25,286 - 25,286 27,499 992 - 992 - |
|---|---|
| 91,613 - 91,613 81,790 |
|
| 35,493 - 35,493 29,991 136,206 1,475 137,681 165,345 |
|
| 171,699 1,475 173,174 195,336 |
|
| (80,086) (1,475) (81,561) (113,546) - - - - |
|
| (80,086) (1,475) (81,561) (113,546) 139,702 61,002 200,704 314,250 |
|
| 59,616 59,527 119,143 200,704 |
All of the above amounts relate to continuing activities.
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HOGHTON TOWER PRESERVATION TRUST
BALANCE SHEET
AS AT 31 MARCH 2024
| Fixed assets Intangibleasset 8 Tangible assets 9 Heritage assets 10 Investments 11 Current assets Debtors: Amounts falling due within one year 12 Cash at bank and in hand Creditors:amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors:amounts falling due after more than one year 14 Net assets Funds: Unrestrictedfunds Restrictedfunds Total funds 15 |
Unrestricted Restricted Total funds Total funds funds funds 2024 2023 £ £ £ £ 3,600 - 3,600 5,400 84,815 59,527 144,342 134,104 32,410 - 32,410 32,410 2 - 2 2 |
|---|---|
| 120,827 59,527 180,354 171,916 28,892 - 28,892 44,291 46,772 - 46,772 101,919 |
|
| 75,664 - 75,664 146,210 (22,556) - (22,556) (13,372) |
|
| 53,108 - 53,108 132,838 |
|
| 173,935 59,527 233,462 304,754 (114,319) - (114,319) (104,050) |
|
| 59,616 59,527 119,143 200,704 |
|
| 59,616 - 59,616 139,702 - 59,527 59,527 61,002 |
|
| 59,616 59,527 119,143 200,704 |
A prior year adjustment of £127 has been made unrestricted brought forward funds.
The financial statements were approved by the trustees on the ............................. and are signed on their behalf by:
……………………………………
Elena Faraoni
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HOGHTON TOWER PRESERVATION TRUST
FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE ACCOUNTS
1 Accounting policies
The address of the registered office is given in the charity information on page 1 of these financial statements. 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 at large.
The principal accounting policies adopted, judgements and key sources of estimation 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) – (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 to the nearest £.
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 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) – (Charities SORP (FRS 102)) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Hoghton Tower Preservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated 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 trustees make this assessment in respect of a period of at least one year from the date of authorisation of issue of the accounts. They have concluded that the charity has adequate resources 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 entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies (continued)
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees in furtherance of the general 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 restricted purposes.
Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it 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 school/private 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 tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
Heritage 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 at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to 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 to 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 Hoghton Tower provided during public and private viewing.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net 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 - 20% p.a. straight line Leasehold improvements - 2% p.a. straight line
Investments
Investments in subsidiaries are measured at cost less impairment.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
Financial 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 statements:
Valuation of heritage assets
As detailed in accounting policies, the charity values heritage assets donated at fair value with reference to market prices. 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 at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2 Income from donations
| Sundry donations | Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 12,747 - 12,747 3,752 |
|---|---|
| 12,747 - 12,747 3,752 |
Income from donations in the current and prior year was all unrestricted.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
3 Incoming resources from charitable activities
| Gatemonies Grantincome Grants received in year There were no grants received in the year. |
Unrestricted Restricted funds £ funds £ 52,588 - - - |
Total Total 2024 £ 2023 £ 52,588 50,539 - - |
|---|---|---|
| 52,588 - |
52,588 260,887 |
|
| Total Total 2024 2023 £ £ - - - **- ** |
||
| - **- ** |
The income from charitable activities was £52,588 of which £52,588 (2023: 50,539) was unrestricted and £Nil (2023 £Nil) was restricted.
4 Incoming resources from trading activities
| Fundraisingevents | Unrestricted Restricted Total Total funds £ funds £ 2024 £ 2023 £ 25,286 - 25,286 27,499 |
|---|---|
| 25,286 - 25,286 27,499 |
The income from trading activities was £25,286 (2023: £27,499), all of which was unrestricted.
A prior year adjustment of £127 has been made to income.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
5 Analysis of expenditure
| Basisof allocation Directly allocated to activities Wages and salaries Direct Flowers and gardening Direct Repairs and maintenance Direct Eventcosts Direct Castle Studies Project costs Direct Support costs Wages and salaries Staff time Rates Equally Heat and light Equally Marketing, printing and postage Equally IT costs Usage Insurance Usage Bank charges Equally Sundries Equally Depreciation Usage Amortisation Usage Training Direct Legal and professional Direct Loan interest Direct Bank interest Direct Accountancy and bookkeeping costs Direct |
Raising Charitable Total funds Total funds funds £ activities £ 2024 £ 2023 £ - - - - - - - - 26,749 26,749 82,822 15,657 - 15,657 18,327 - - - - - 51,898 51,898 39,501 151 76 227 640 9,727 4,863 14,590 3,206 3,000 - 3,000 - - - - - 1,956 30,650 32,606 23,290 974 487 1,461 1,262 2,277 1,138 3,415 9,629 550 8,621 9,171 7,351 1,200 600 1,800 - - - - - - 35 35 35 - - - 900 565 565 566 - 11,999 11,999 7,807 |
|---|---|
| 35,493 137,681 173,174 195,336 |
Total resources expended were £173,174 (2023: £195,336), of which £1,475 (2023 £1,475) was restricted and £171,699 (2023: £193,861) was unrestricted.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 Net (incoming)/outgoing resources
| Net (incoming)/outgoing resources | ||
|---|---|---|
| 2024 | 2023 | |
| Net resources are stated after charging/(crediting): | £ | £ |
| Depreciation of tangible fixed assets | 9,171 | 7,351 |
| Amortisation of intangible fixed assets | 1,800 | 1,800 |
| Independent examination fee (exclusive of VAT) | 1,500 | 1,800 |
| Analysis of staff costs, trustee remuneration and expenses and the | cost of key management | |
| personnel | ||
| 2024 | 2023 | |
| £ | £ | |
| Wages and salaries | 51,418 | 39,139 |
| Social security costs | 480 | 362 |
| 51,898 | 39,501 |
7 Analysis of staff costs, trustee remuneration and expenses and the cost of key management personnel
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:
| 2024 | 2023 | |
|---|---|---|
| No | No | |
| Number of staff | 1 | 1 |
No employees had employee benefits in excess of £60,000 per annum (2023: £nil).
The charity trustees were not paid and did not receive any other benefits from employment with the charity in the year (2023: £nil). Travelling and other reimbursed expenses and costs amounting to £Nil (2023: £775) 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.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
8 Intangible fixed assets
| Cost At 1 April 2023 Additions Disposals At 31 March 2024 Amortisation At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 9 Tangible fixed assets Cost At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Website Total £ £ 9,000 9,000 - - - - 9,000 9,000 3,600 3,600 1,800 1,800 - - 5,400 5,400 3,600 3,600 5,400 5,400 £ £ £ 154,806 29,678 184,484 - 19,410 19,410 - - - |
|---|---|
| 154,806 49,088 203,893 |
|
| 23,622 26,758 50,380 3,096 6,075 9,171 - - - |
|
| 26,719 33,833 59,551 |
|
| 128,087 16,255 144,342 |
|
| 131,184 2,920 134,104 |
Fixtures, fittings and equipment include £8,510 of assets which are not depreciated.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
10 Heritage assets
| Dollshouse Collection | |
|---|---|
| £ | |
| Valuation | |
| At 1 April 2023 | 32,410 |
| Additions | - |
| Revaluation | - |
| At 31 March 2024 | 32,410 |
The Dollshouse collection was valued in the year ended 31 March 2015 by St George Valuations. An additional two dollshouses have been donated to the Charity since this valuation. A value has not yet been attributed to this donation.
Five year summary of heritage asset transactions
| Cost brought forward Additions Revaluation Cost carried forward |
2024 £ 2023 £ 2022 £ 2021 £ 2020 £ 32,410 32,410 32,410 32,410 32,410 - - - - - - - - - - |
|---|---|
| 32,410 32,410 32,410 32,410 32,410 |
11 Investments
| nvestments | ||
|---|---|---|
| Total | Total | |
| 2024 | 2023 | |
| £ | £ | |
| Investment in subsidiary | 2 | 2 |
The Charity owns 100% of the issued share capital of Hoghton Tower Limited, a company registered in England and Wales. During the year, the company made a deficit of £13,934 (2023: deficit of £7,005) and as at 31 March 2024 had negative capital and reserves of £13,863 (2023: £69 (positive)).
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
12 Debtors: Amounts falling due within one year
| Debtors: Amounts falling due within one year | |
|---|---|
| Trade debtors Other debtors Amount due from subsidiary undertaking Prepayments and accrued income |
2024 £ 2023 £ 795 456 755 119 24,595 43,716 2,747 - |
| 28,892 44,291 |
13 Creditors: Amounts falling due within one year
| reditors: Amounts falling due within one year | |
|---|---|
| Bank loan Trade creditors Other creditors Other taxes and social security Accruals and deferred income |
2024 £ 2023 £ 2,937 1,991 227 2,129 3,958 - 734 822 14,700 8,430 |
| 22,556 13,372 |
14 Creditors: Amounts falling due after more than one year
| Bank loan Other creditors |
2024 2023 £ £ 17,624 20,550 96,694 83,500 |
|---|---|
| 114,319 104,050 |
The charity received a bounce back loan in 2021. The loan is repayable over 7 years following a 6- month capital repayment holiday in this financial year. The loan is not secured on the assets of the charity.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
15 Analysis of charitable funds
| Current year Unrestricted funds Generalfund Restricted funds The Country House Association - Roof restoration Garfield Weston Foundation - Roof restoration Total restricted funds Total funds Prior year Unrestricted funds Generalfund Restricted funds The Country House Association - Roof restoration Garfield Weston Foundation - Roof restoration Castle Studies Trust Historic England The Architectural Heritage Fund Total restricted funds Totalfunds |
Current year Unrestricted funds Generalfund Restricted funds The Country House Association - Roof restoration Garfield Weston Foundation - Roof restoration Total restricted funds Total funds Prior year Unrestricted funds Generalfund Restricted funds The Country House Association - Roof restoration Garfield Weston Foundation - Roof restoration Castle Studies Trust Historic England The Architectural Heritage Fund Total restricted funds Totalfunds |
At 1 At 31 April Incoming Outgoing 2023 resources resources Transfers March 2024 £ £ £ £ £ 139,702 91,613 (171,699) - 59,616 52,729 - (1,275) - 51,454 8,273 - (200) - 8,073 |
|---|---|---|
| 61,002 - (1,475) - 59,527 |
||
| 200,704 91,613 (173,174) - 119,143 |
||
| At 1 April Incoming Outgoing At 31 March 2022 resources resources Transfers 2023 £ £ £ £ £ 247,242 81,790 (193,861) 4,531 139,702 54,004 - (1,275) - 52,729 8,473 - (200) - 8,273 1,419 - - (1,419) - 2,867 - - (2,867) - 245 - - (245) - 67,008 - (1,475) (4,531) 61,002 314,250 81,790 (195,336) - 200,704 |
||
The Country House Association and the Garfield Weston Foundation funds represent funds received for the restoration of the roof.
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HOGHTON TOWER PRESERVATION TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
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 2024 is as follows:
| Intangible fixed assets Tangible fixed assets Heritage assets Investments Currentassets Currentliabilities Long term liabilities |
Unrestricted funds £ Restricted funds £ Total 2023 £ 3,600 - 3,600 84,815 59,527 144,342 32,410 - 32,410 2 - 2 75,664 - 75,664 (22,557) - (22,557) (114,319) - (114,319) |
|---|---|
| 59,616 59,527 119,143 |
17 Related party transactions
The Charity leases property at Hoghton Tower from the De Hoghton Settled Estate at 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 at a cost of one peppercorn per year.
The Charity has granted a license to Hoghton Tower Limited to allow the use of the property for events and holiday lettings. In exchange, the company must pay any residual profits to the Charity by way of a gift aid donation. During the year the Charity received a donation of £nil (2023: £Nil) from Hoghton Tower Limited. There was also an amount of £24,595 due from Hoghton Tower Limited (2023: £43,716 due to Hoghton Tower Limited) at the year end.
At the end of the year, the Charity had amounts due to other related parties of £83,500 (2023: £83,500).
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