**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
-1-
## **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.
-2-
**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:
1. 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.
2. 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.
3. 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.
-3-
**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.
-4-
## **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:
-5-
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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:
-6-
## **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.
-7-
## **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**
-8-
**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.
.
-9-
**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.
-10-
**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.
-11-
## **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.
-12-
**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.
-13-
**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.
-14-
**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.
-15-
**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)).
-16-
**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.
-17-
**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.
-18-
## **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).
-19-