**Charity registration number 515399**
## **Company registration number 01814110 (England and Wales)**
## **WIRKSWORTH HERITAGE CENTRE**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **WIRKSWORTH HERITAGE CENTRE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|A E Lindsay (Honorary Treasurer)|
|---|---|
||J Ferguson-Lee (Chair)|
|**Charity number**|515399|
|**Company number**|01814110|
|**Registered office**|31 St. Johns Street|
||Wirksworth|
||Matlock|
||Derbyshire|
||DE4 4DS|
|**Independent examiner**|UHY Hacker Young|
||14 Park Row|
||Nottingham|
||NG1 6GR|
**WIRKSWORTH HERITAGE CENTRE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5 - 6|
|Notes to the financial statements|7 - 17|
## **WIRKSWORTH HERITAGE CENTRE**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and "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 1 January 2019).
## **Objectives and activities**
The company is a registered charity established to advance by all such means as are charitable in law, education in, research into and knowledge and interpretation of the history and development of the town of Wirksworth in Derbyshire, for the benefit of the public in general and the inhabitants of Derbyshire in particular and for such purposes to establish a Heritage Centre in Wirksworth with museum and related educational activities.
The "collection" consists largely of items and artefacts which have been donated to the Centre on the understanding that they will be accessioned as part of the permanent museum collection.
During the year the trustees continued to provide charitable services to members of the public and organisations, all of whom have met the trustees' criteria for the provision of such. The trustees have complied with their duty in Section 117 of the Charities Act 2016 to have due regard to public benefit guidance published by the Commission.
## **Achievements and performance**
The Centre is open six days per week. Collection items in galleries 1-3 were displayed. Gallery 4 included a temporary exhibition.
## **Financial review**
## Risk Management
The Council of Management reviews the major risks which the charity faces on a regular basis and believes that maintaining reserves at current levels, combined with an annual review of the controls over financial systems, will provide sufficient resources. Council has also examined other operational and business risks faced by the charity and confirms that it has established systems to mitigate the significant risks.
Throughout 2023 the Centre has continued with post Covid recovery which has shown gradually increased turnover. A resilience grant of approximately £250,000 to assist with staffing costs and financial growth has been provided by the National Heritage Lottery Fund to assist.
## Transactions & Financial Position
The Statement of Financial Activities shows net expenditure of £112,097 (2022: net income of £49,403).
Income includes a management recharge to the trading subsidiary, in 2023 this totaled £119,626 (2022: £86,520). As at 31 December 2023 the trading subsidiary owed the charity £116,037 (2022: £89,030). The trustees are aware that if the subsidiary fails to make a profit in the near future they must plan as to how the trading subsidiary will repay the monies that it owes to the Wirksworth Heritage Centre.
- 1 -
## **WIRKSWORTH HERITAGE CENTRE**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## Going Concern
The trustees have not produced a cashflow which shows the charity as liquid in 12 months' time from the signing of the financial statements. Without the continued support of the National Lottery Heritage Fund (NLHF) and other generous grants it is unlikely that the charity will be able to continue its operations. We are currently utilising resilience funding from NLHF, this has included funds for a Commercial Consultant to assist us and we are in discussion with NLHF about further support going forward.
We are also working with Museum Development Midlands, which includes intensive support from a museum specialist to guide us and support us going forward, we look forward to engaging their assistance.
## **Structure, governance and management**
## Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The company was incorporated on 4 May 1984. In the event of the company being wound up every member is required to contribute an amount not exceeding £1.
## Council of Management
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association are known as the Council.
The Articles provide for a minimum of three Council members in addition to the Honorary Secretary and Honorary Treasurer, all of whom must be members of the charity. The Council may at any time co-opt any person qualified for appointment to fill a vacancy in their number, but a co-opted member holds office only until the next annual general meeting and shall then be eligible for re-appointment. Council members may be appointed or removed by ordinary resolution of the charity.
Council meets from time to time as required and is responsible for carrying out the whole of the business of the charity. The company has not entered into any contract in which a member of Council has an interest.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
S Barkley-Smith (Resigned 31 May 2024) A E Lindsay (Honorary Treasurer) J Ferguson-Lee (Chair) N Lamb (Resigned 4 September 2024)
The Trustees' report was approved by the Board of Trustees.
[ Signature ]
.............................. J Ferguson-Lee (Chair) **Trustee** `[ Date ]` Date: .............................................
- 2 -
## **WIRKSWORTH HERITAGE CENTRE**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF WIRKSWORTH HERITAGE CENTRE**
I report to the trustees on my examination of the financial statements of Wirksworth Heritage Centre (the charity) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting 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 financial statements 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 financial statements to be reached.
## **David Allum FCA**
For and on behalf of UHY Hacker Young Chartered Accountants 14 Park Row Nottingham NG1 6GR
Dated: .........................
- 3 -
## **WIRKSWORTH HERITAGE CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and
legacies
**2**
1,959
23,106
Charitable activities
**3**
127,261
-
**Total income**
129,220
23,106
**Expenditure on:**
Charitable activities
**4**
174,598
89,825
**Net (outgoing)/incoming**
**resources before**
**transfers**
(45,378)
(66,719)
Gross transfers
between funds
(11,610)
11,610
**Net**
**(expenditure)/income for**
**the year/**
**Net movement in funds**
(56,988)
(55,109)
Fund balances at 1
January 2023
318,983
1,201,125
**Fund balances at 31**
**December 2023**
261,995
1,146,016|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
25,065
51,440
132,487
127,261
92,988
-
152,326
144,428
132,487
264,423
124,799
102,713
(112,097)
19,629
29,774
-
-
-
(112,097)
19,629
29,774
1,520,108
299,354
1,171,351
1,408,011
318,983
1,201,125|**Total**
**2022**
**£**
183,927
92,988|
|---|---|---|
|||276,915|
|||227,512|
|||49,403
-|
|||49,403
1,470,705|
|||1,520,108|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
## **WIRKSWORTH HERITAGE CENTRE**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|**Notes**
**Fixed assets**
Tangible assets
**9**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**13**
Unrestricted funds
Designated funds
**14**
General unrestricted funds|**2023**
**£**
**£**
1,191,087
1
1,191,088
130,426
101,148
231,574
(14,651)
216,923
1,408,011
1,146,016
500
261,495
261,995
1,408,011|**2022**
**£**
**£**
1,240,399
1
1,240,400
101,363
189,445
290,808
(11,100)
279,708
1,520,108
1,201,125
525
318,458
318,983
1,520,108|**2022**
**£**
**£**
1,240,399
1
1,240,400
101,363
189,445
290,808
(11,100)
279,708
1,520,108
1,201,125
525
318,458
318,983
1,520,108|
|---|---|---|---|
||||1,240,400
279,708|
||||1,520,108|
||||1,201,125
318,983|
||||1,520,108|
- 5 -
## **WIRKSWORTH HERITAGE CENTRE**
## **BALANCE SHEET (CONTINUED)**
## **AS AT 31 DECEMBER 2023**
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
```
[ Date ]
```
The financial statements were approved by the Trustees on .........................
## [ Signature ]
.............................. J Ferguson-Lee (Chair) **Trustee**
**Company registration number 01814110**
- 6 -
**WIRKSWORTH HERITAGE CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **Charity information**
Wirksworth Heritage Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 31 St. Johns Street, Wirksworth, Matlock, Derbyshire, DE4 4DS.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling and are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The financial statements have been prepared using the going concern basis. However, it is possible the charity may run out of liquid funds within the 12 month period following the date of the signing of these accounts.
The charity can only continue as a going concern if grants and donations received are enough to cover the ongoing cost of operations. Without the continued support of the National Lottery Heritage Fund and Museum Development Midlands, the charity is unlikely to be able to continue its operations.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
- 7 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Where appropriate costs have been allocated to specific activities.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 2% straight line Plant and machinery 20% reducing balance Fixtures, fittings & equipment 10% straight line Computers 33% straight line
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and loans are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Trade creditors are recognised initially at transaction price.
## **1.8 Taxation**
The charity is exempt from corporation tax on its charitable activities.
- 8 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and
gifts
1,959
-
Grants received:
-
23,106
1,959
23,106
**Donations and**
**gifts**
Donations
1,000
-
Gift aid
959
-
Membership
-
-
1,959
-
**Grants receivable**
**for core activities**
Heritage Lottery
Fund
-
23,106
Arts Council
-
-
General
-
-
DWP Kickstart
-
-
-
23,106|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
1,959
1,940
-
23,106
49,500
132,487
25,065
51,440
132,487
1,000
926
-
959
574
-
-
440
-
1,959
1,940
-
23,106
-
85,603
-
-
38,463
-
49,500
-
-
-
8,421
23,106
49,500
132,487|**Total**
**2022**
**£**
1,940
181,987|
|---|---|---|
|||183,927|
|||926
574
440|
|||1,940|
|||85,603
38,463
49,500
8,421|
|||181,987|
- 9 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**2023**|**2022**|
||**£**|**£**|
|Museum admissions|6,226|5,671|
|Management charge|119,626|86,520|
|Other interest receivable|598|187|
|Rental income|253|1,060|
|Miscellaneous income|558|(450)|
||127,261|92,988|
## **4 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Expenditure**|**Expenditure**|
||**2023**|**2022**|
||**£**|**£**|
|Depreciation and impairment|50,212|51,364|
|Cafe and shop|83,747|70,004|
|Museum|6,173|5,078|
|Other|118,501|93,265|
||258,633|219,711|
|Share of support costs (see note 5)|2,990|2,365|
|Share of governance costs (see note 5)|2,800|5,436|
||264,423|227,512|
|**Analysis by fund**|||
|Unrestricted funds|174,598|124,799|
|Restricted funds|89,825|102,713|
||264,423|227,512|
- 10 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**5**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**2023**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
**£**
**£**
Finance
2,990
2,800
5,790
2,365
5,436
2,990
2,800
5,790
2,365
5,436
Analysed between
Charitable activities
2,990
2,800
5,790
2,365
5,436
**6**
**Net movement in funds**
**2023**
**£**
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
50,212|**2022**
**£**
7,801|
|---|---|
||7,801|
||7,801|
||**2022**
**£**
51,364|
## **7 Trustees**
There were no trustees' remuneration, expenses or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **8 Employees**
The average monthly number of employees during the year was:
|**2023**|**2022**|
|---|---|
|**Number**|**Number**|
|12|10|
There were no employees whose annual remuneration was more than £60,000.
- 11 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**9**
**Tangible fixed assets**
**Land and**
**buildings**
**£**
**Cost**
At 1 January 2023
1,134,366
Additions
-
At 31 December 2023
1,134,366
**Depreciation and impairment**
At 1 January 2023
57,844
Depreciation charged in the year
19,287
At 31 December 2023
77,131
**Carrying amount**
At 31 December 2023
1,057,235
At 31 December 2022
1,076,522
**10**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2023 & 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
Other investments comprise:
Investments in subsidiaries|**Plant and**
**machinery**
**Fixtures, fittings**
**& equipment**
**£**
**£**
34,048
269,440
-
513
34,048
269,953
22,495
119,759
2,311
26,261
24,806
146,020
9,242
123,933
11,553
149,681
**Notes**
**17**|**Computers**
**Total**
**£**
**£**
20,952
1,458,806
387
900
21,339
1,459,706
18,309
218,407
2,353
50,212
20,662
268,619
677
1,191,087
2,643
1,240,399
**Other**
**investments**
1
1
1
**2023**
**2022**
**£**
**£**
1
1|
|---|---|---|
- 12 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**11**
**Debtors**
**Amounts falling due within one year:**
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income|**2023**
**£**
116,037
5,885
8,504
130,426|**2022**
**£**
89,030
4,100
8,233|
|---|---|---|
|||101,363|
**12 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
-
5,766
2,484
465
5,936
14,651|**2022**
**£**
1,658
-
2,534
-
6,908|
|||11,100|
- 13 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 January 2022**
**£**
Property Donated
170,000
NHLF
907,642
Arts Council
73,019
Capital Equipment (NLHF)
1,379
MDEM
18,524
WRO
-
Donation Box Fund
787
1,171,351|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 January 2023**
**£**
**£**
**£**
-
-
170,000
85,603
(51,909)
941,336
38,463
(38,508)
72,974
-
(689)
690
-
(3,087)
15,437
8,421
(8,421)
-
-
(99)
688
132,487
(102,713)
1,201,125|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**£**
**£**
**£**
-
-
-
-
(51,878)
-
-
(45)
-
-
-
-
-
(3,087)
-
23,106
(34,716)
11,610
-
(99)
-
23,106
(89,825)
11,610|**Balance at**
**31 December**
**2023**
**£**
170,000
889,458
72,929
690
12,350
-
589|
|---|---|---|---|
||||1,146,016|
- 14 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13 Restricted funds**
**(Continued)**
Property Donated relates to a building received as a donation.
Wirksworth Heritage Centre received grants from both the National Lottery Heritage Fund "NLHF" (Heritage Emergency Fund) and the Arts Council (two Cultural Recovery Fund grants and an Emergency Resources Support grant during and post the Covid pandemic to support all aspects of the organisation including overheads, marketing and some staffing costs In addition the CRF2 and ERS grants also funded the development and set up of a temporary exhibition about the history of the Barmote Court and the return of the Henry VIII Lead Miners’ Standard Dish for display in the town of Wirksworth. The remaining balance of the 5 year NLHF Project grant to relocate and refurbish Wirksworth Heritage Centre was repurposed with the agreement of NLHF to support ongoing Management and Maintenance.
Capital Equipment (NLHF) has been used to replace some kitchen equipment and purchase some interactive display screens and external signage, the latter two with grant funds.
Two small grants from Museum Development East Midlands "MDEM" purchased display cubes for our GIS room display cabinet and a large freestanding donation box.
Wirksworth Reaches Out "WRO" grant from NLHF funds 3 part time staff and a series of exhibitions with associated events and activities all relating to Wirksworth. This grant includes an element of match funding, the expenditure from this grant is submitted quarterly in arrears for payment, alongside updates explaining where we are with the project. These are then approved and paid with the match funding deducted from each claim made.
The Donation Box Fund represents the permanent donation box purchased. An an annual depreciation charge is applied to this fund.
- 15 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 January 2022**
**Resources**
**expended**
**Balance at**
**1 January 2023**
**Resources**
**expended**
**£**
**£**
**£**
**£**
HLF emergency funding
896
(371)
525
(25)
896
(371)
525
(25)
**15**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restrictred**
**funds**
**Total**
**Unrestricted**
**funds**
**Restrictred**
**funds**
**2023**
**2023**
**2023**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
Tangible assets
185,874
1,005,213
1,191,087
141,703
1,098,696
Investments
1
-
1
1
-
Current assets
87,730
129,193
216,923
177,279
102,429
273,605
1,134,406
1,408,011
318,983
1,201,125|**Balance at**
**31 December**
**2023**
**£**
500|
|---|---|
||500|
||**Total**
**2022**
**£**
1,240,399
1
279,708|
||1,520,108|
## **16 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
||**Payments made on behalf**|**Payments made on behalf**|**Payments recieved**|**from**|
|---|---|---|---|---|
||**of subsidiary**||**subsidiary**||
||**2023**|**2022**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|Wirksworth Heritage Centre Trading|||||
|Limited|205,299|157,022|178,292|161,259|
||205,299|157,022|178,292|161,259|
- 16 -
## **WIRKSWORTH HERITAGE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **16 Related party transactions**
## **(Continued)**
The following amounts were outstanding at the reporting end date:
||**Amounts owed by**|**related**|**Amounts owed by**|**related**|
|---|---|---|---|---|
||**parties**||**parties**||
||**2023**||**2022**||
||**Balance**|**Net**|**Balance**|**Net**|
||**£**|**£**|**£**|**£**|
|Wirksworth Heritage Centre Trading|||||
|Limited|116,037|116,037|89,030|89,030|
||116,037|116,037|89,030|89,030|
## **17 Subsidiaries**
Details of the charity's subsidiaries at 31 December 2023 are as follows:
|**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**|
|---|---|---|---|---|
||**office**||**shares held**|**Direct Indirect**|
|Wirksworth Heritage|United|Cafe|Ordinary|100.00|
|Centre Trading Limited|Kingdom||||
Registered office; 31 St Johns Street, Wirksworth, Matlock, Derbyshire, DE4 4DS
Aggregate capital and reserves: £120,754 negative reserves (2022: £91,098 negative reserves).
(Loss)/Profit for the year: £29,656 loss (2022: £2,281 profit).
- 17 -
**Company registration number 11544778 (England and Wales)**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
**UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023 PAGES FOR FILING WITH REGISTRAR**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **COMPANY INFORMATION**
**Directors** J Ferguson-Lee A Lindsay **Company number** 11544778 **Registered office** 31 St. Johns Street Wirksworth Matlock Derbyshire DE4 4DS **Accountants** UHY Hacker Young 14 Park Row Nottingham NG1 6GR
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Balance sheet|1|
|Notes to the financial statements|2 - 3|
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|**2023**
**2022**
**Notes**
**£**
**£**
**£**
**Current assets**
Stocks
11,331
8,928
**Creditors: amounts falling due within**
**one year**
**3**
(132,085)
(100,026)
**Net current liabilities**
(120,754)
**Capital and reserves**
Called up share capital
1
Profit and loss reserves
(120,755)
**Total equity**
(120,754)|**£**
(91,098)
1
(91,099)
(91,098)|
|---|---|
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
```
[ Date ]
```
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
[ Signature ] .............................................. J Ferguson-Lee
## **Director**
Company registration number 11544778 (England and Wales)
- 1 -
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **1 Accounting policies**
## **Company information**
Wirksworth Heritage Centre Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is 31 St. Johns Street, Wirksworth, Matlock, Derbyshire, DE4 4DS.
## **1.1 Accounting convention**
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate support from the parent company to continue in operational existence for the foreseeable future. The directors expect this support to continue for at least the next 12 months, providing the parent itself has enough resource to continue its own operations. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Turnover**
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
## **1.4 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
## **1.5 Financial instruments**
## _**Basic financial assets**_
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs.
- 2 -
**WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **(Continued)**
## _**Classification of financial liabilities**_
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.
## **2 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
||Total|8|7|
|**3**|**Creditors: amounts falling due within one year**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Trade creditors|6,767|2,202|
||Amounts owed to group undertakings|116,037|89,030|
||Taxation and social security|7,160|6,402|
||Other creditors|2,121|2,392|
|||132,085|100,026|
- 3 -
**Company registration number 11544778 (England and Wales)**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **COMPANY INFORMATION**
**Directors** J Ferguson-Lee A Lindsay **Company number** 11544778 **Registered office** 31 St. Johns Street Wirksworth Matlock Derbyshire DE4 4DS **Accountants** UHY Hacker Young 14 Park Row Nottingham NG1 6GR
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1|
|Profit and loss account|2|
|Balance sheet|3|
|Notes to the financial statements|4 - 5|
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **DIRECTORS' REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
The directors present their annual report and financial statements for the year ended 31 December 2023.
## **Principal activities**
The principal activity of the company continued to be that of the operation of a cafe at a museum.
## **Directors**
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
S Barkley-Smith (Resigned 31 May 2024) J Ferguson-Lee N Lamb (Resigned 4 September 2024) A Lindsay
## **Small companies exemption**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
[ Signature ] .............................................. J Ferguson-Lee **Director** `[ Date ]` Date: .............................................
- 1 -
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **PROFIT AND LOSS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**2023**
**£**
**Turnover**
150,063
Cost of sales
(55,842)
**Gross profit**
94,221
Administrative expenses
(123,877)
**(Loss)/profit before taxation**
(29,656)
Tax on (loss)/profit
-
**(Loss)/profit for the financial year**
(29,656)|**2022**
**£**
143,106
(51,090)
92,016
(89,735)
2,281
-
2,281|
|---|---|
The profit and loss account has been prepared on the basis that all operations are continuing operations.
- 2 -
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|**2023**
**2022**
**Notes**
**£**
**£**
**£**
**Current assets**
Stocks
11,331
8,928
**Creditors: amounts falling due within**
**one year**
**3**
(132,085)
(100,026)
**Net current liabilities**
(120,754)
**Capital and reserves**
Called up share capital
1
Profit and loss reserves
(120,755)
**Total equity**
(120,754)|**£**
(91,098)
1
(91,099)
(91,098)|
|---|---|
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
`[ Date ]` The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
[ Signature ] .............................................. J Ferguson-Lee **Director**
Company registration number 11544778 (England and Wales)
- 3 -
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **1 Accounting policies**
## **Company information**
Wirksworth Heritage Centre Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is 31 St. Johns Street, Wirksworth, Matlock, Derbyshire, DE4 4DS.
## **1.1 Accounting convention**
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate support from the parent company to continue in operational existence for the foreseeable future. The directors expect this support to continue for at least the next 12 months, providing the parent itself has enough resource to continue its own operations. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Turnover**
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
## **1.4 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
## **1.5 Financial instruments**
## _**Basic financial assets**_
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs.
- 4 -
**WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **(Continued)**
## _**Classification of financial liabilities**_
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.
## **2 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
||Total|8|7|
|**3**|**Creditors: amounts falling due within one year**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Trade creditors|6,767|2,202|
||Amounts owed to group undertakings|116,037|89,030|
||Taxation and social security|7,160|6,402|
||Other creditors|2,121|2,392|
|||132,085|100,026|
- 5 -
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
**MANAGEMENT INFORMATION**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **WIRKSWORTH HERITAGE CENTRE TRADING LIMITED**
## **DETAILED PROFIT AND LOSS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Turnover**
Sales of goods
Grants Received
**Cost of sales**
Opening stock of finished goods
_Purchases and other direct costs_
Finished goods purchases
Non-goods carriage inwards and import duty
Total purchases and other direct costs
Closing stock of finished goods
Total cost of sales
**Gross profit**
**Administrative expenses**
Wages and salaries
Rent re operating leases
Rates
Power, light and heat
Property repairs and maintenance
Premises insurance
Accountancy
Bank charges
Bad and doubtful debts
Printing and stationery
Advertising
Telecommunications
Sundry expenses
**Operating (loss)/profit**|**2023**
**2023**
**£**
**£**
150,063
-
150,063
8,928
58,194
51
58,245
11,331
(55,842)
62.79%
94,221
86,777
12,384
1,918
10,001
1,619
5,072
1,900
1,607
175
897
124
1,322
81
(123,877)
(29,656)|**2022**
**£**
10,408
49,516
94
49,610
8,928
64.30%
59,530
12,384
1,754
5,455
1,593
4,318
1,500
880
-
858
9
1,139
315|**2022**
**£**
106,412
36,694
143,106
(51,090)
92,016
(89,735)
2,281|
|---|---|---|---|