Registered number. 0181731)4 Charity number: 516799 The Natlonal Stone Centre Trustees, report and financial statements For the year ended 31 December 2023 rfJDAINS ACCOUNTANT5
The Natlonal Stone Centre (A company limited by guarantee) Contents Page Reference and admlnistratlve details of the Company, Its Trustees and advisers Trustees, report Trustees. responslbllitles statement Independent examiner's report Statement of financlal activitles 9-10 Balance sheet 12-13 Notes to the flnancial statements 14-31
The National Stone Centre (A company limited by guarantee) Reference and administratlve details of the Company* its Trustees and advisers For the year ended 31 December 2023 Trustees D A Bagshaw H K Bailey P Greaves P F Jones J B Riding V G Russell B M Uphill B C Williams P F Cottrell S J Burtonshaw (appointed 17 July 2023) C J Herbert (appointed 17 Juty 2023) A Meadows (appointed 17 July 2023) A S Russell (appointed 17 July 2023) L Saunders (appointed 17 July 2023) R P Shaw (appointed 17 July 2023} L M Willies (appointed 17 July 2023) R E Allington (resigned 30 November 2023) T J Corcoran (resigned 17 July 20231 M R Dobson (resigned 17 July 2023) P Williamson (resigned 10 March 20231 M K Riley (resigned 17 July 2023) Company reglstered number 01817304 Charlty registered number 516799 Registered office Porter Lane Wirksworth Matlock Derbyshire DE4 4LS Company secretary J E Thome Accountants Dains Audit Limited 2 Etwria Office Village Forge Lane Stoke on Trent Staffordshire ST15RQ Solicitors Howes Percival LLP 3 The Osiers Business Centre Leicester LE191DX Page 1
The National Stone Centre (A company limited by guarantee} Trustees. report For the year ended 31 December 2023 The Trustees present their annual port together with the financial statements of the Company for the year 1 January 2023 to 31 December 2023. The Annual pOrt serves the purposes of both a Trustees, report and a diredors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the Current statutory requirements, the requirements of the charrtable ¢ompany's governing document and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {efft1ve 1 January 2019}. Since the Company qualifies as small under section 382 01 the Companies Act 2008, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulalions 2013 has been omitted Page 2
The National Stone Centre (A company limited by guarantee) Trustees, report (continued) For the year ended 31 December 2023 Objectives and activities bjec The National Stone Ceiitre is an educational charity that seeks to engage and inform about the Importance and history of Stone and its allied industries. Durins 2023, work has continued to develo the centre of excellence at t alisnins the minerals indust standards and professiona development with the .publit engagement and education on the past, present and future. Significantly plannins permission was siven for the new proposed centro excellence and work began to develop the project and source fundins for the new buildins with stratesic partners. As art of the stiate8ic deve opment the Articles of Association <or tlie NSC were revised with members from the Peak District Minin Museum Joining the NS Trustees to su ort the alisnment and re ocation of the Museum to the NSC slte. The roject will en age people of a es across I e count both airectly and thTOU& social media and our work Is receivin6 widespread Industry recognition. Wherever posslble, we have ened the site to visitors so ey can see foi themselves the work that is goin£ on to preserve tlie slto for future senerations. Ouf offering of Stone related heritage craft reserve the tradrtional skills key to the local area both past and present. We continue to make steady progress towards educational goals that we set out when acquiring the site earlier in the ear and a renewed focus IS eing applied to work with educational groups to fomi a practical part of the curriculum. Our mission is to keep the site open, for visitors today and for future senerations. In h.mes of chan8e and uncÈrtainty, that IS more important than ever. Page 3
The Natlonal Stone Centre (A company limited by guarantee) Trustees. report {contlnued) For the year ended 31 December 2023 Achievements and performance Activities The Centre has plan5 to deliver a hIghuality ttraction thousands of visitors to attend annually to learn about the story of stone. Daily, the centre attracts hundreds visitors for outdoor activities such as walking, biking and geology themed visits. We will continue to work to maintain a safe site of both historic and scientifi interest that can be enjoyed by everyofle. With the SSS"l accredited slte being nestled on the edge of the Peak District, the local area benefits fvorn many other organi5ation's who seek to preserwe the natural history and heritaKe of the area and the Nation41 Stone Centre 15 CXC¥ted to collaborate where p055ible with many similar organi5ations as we can. We have been working ivith local CDfflmunity groups, businesse5 and educattonal In5tit4rtion5 to deliver edutational enggeMent loF all ages. The piojeit has received lunding llcm the Derbyghire En¥iFonmental Trust supporting the purchase of new solar pane15 for the Cafe and visitor centre alongside new rechargeable tools foi site maintenonce. Futur£ Plans The tentre will be further developed throughout 2024 to make progress on the key themes that underpin the ienter's lon6-term stratesy which are k Edute complimeritins National stone centre actwvities to establish knowled5e centre excellence for the Industry. Engage A fot81 point for engasing the public, schoo15 and colleges in the scSence. history, present and future of the Industry Inspire Inspiiing the next generation of niinerals and stone production industry piofessioiials The Longcliffe Group5 generous donatlon ol £IOO,OOQ over flve years enBbled the Centre to upgrade and deyelop its exhlbition and learning faclllties foT visrtQT'S and schools. Page 4
The National Stone Centre IA company limited by guarantee) Trustees. report (continued) For the year ended 31 December 2023 Financlal Review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements, Further details regarding the adoption of the going concern basis can be found in the accounting policies. Reserves policy The total funds held at 31 December 2023 were £220,43712022'. £265,930), £210,359 of this was unrestricted 12022.. £253,807). Cash and bank in hand at 31 December 2023 was £16,370 (2022.. £28,892), £16,370 of this was unrestricted 12022.. £28,892). The Trustees believe the present level of ftjnding is adequate to support the continuation of the charity. Page S
The National Stone Centre (A company limited by guarantee) Trustees. report (continued) For the year ended 31 December 2023 Structure. fjovernance & Management The NSC is soverned by its Board of Trustees who set the strategic direction of the organisation and have oversisht of the operational actlVTtie5. The day to day opefatlons are undertaken by employees of the NSC, the IQ and volunteers. In 2023 we created over 15,000 hours of paid employment and over 10,000 hours ol voluntarv woTk was (ompleted by the local community. The focus for the coming yeai will lje to increase the local employment opportunitles on offer at the centre and to widen the volunteer roles on offer to attract new volunteers. We will continue to as515t the industry with its important work on the Minerals Matter prosramme of providin6 resoufces for youns people and adults thinkins about their career options. 4ATTER Page 6
The National Stone Centro (A company Ilmlted by guaranteel Trustees, report {¢ontlnued) For the year ended 31 December 2023 Approved by order of the members of the board of Trustees and signed on their behalf by: B C Wllllams Trustee Date. Page 7
The Natlonal Stone Centre (A company Ilmlted by guarantee> Statement of Trustees. responsibilltles For the year ended 31 December 2023 The Trustees (who are also the diredors of the Company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in 8¢cordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements. the Truslees are required to- select suitable accounting policies and then apply them consistently., obseNe the methods and principles of the Chartties SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records Ihat are sufficient to show and explain the Company's transactions and disclose wth reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Compsny and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. Approved by order of the members of Ihe board of Trustees and signed on its behalf by: B C Williams Trustee Date.. Fc gaY<zric4Ket Lb VP Page 8
The National Stone Centre (A company limited by guarantee) Indépendent examinerfs report For the year ended 31 December 2023 Independent examinerfs report to the Trustees of The National Stone Centre {'the Company.) I report to the charity Trustees on my examination of the accounts of the Cornpany for the year ended 31 December 2023. Responsibllitles and basis of report As the Trustees of the Company {and its 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 20061'the 2006 Act,). Having satisfied rnyse 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 the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Diredions given by the Charity Commission under section 14515)Ib) of the 2011 Act. Independent examiner's statement I have completed my examination. l confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,, or the accounts do not accord wtth those records. or the accounts do not comply with the acccunling requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf 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 charlties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. 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 pr¢per understanding of the accounts to be reached. Page 9
The National Stone Centre (A company limited by guarantee) Independent examiner's report (continued) For the year ended 31 December 2023 This report is made solely to the Companls Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so Ihat I might state to the Company'8 Trustees those matters l am required lo slate to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibilty to anyone other Ihan the Company and the Company's Truslees as a body, for my work or for this report. Signed: & Dated.. Simon Hawkins FCA Dains Audtt Limited Suite 2, Albion House 2 Etruria Office Village Forge Lane Etruria Sloke on Trent ST1 5RQ Page 10
The National Stone Centre (A company limited by guarantee) Statement of financial activfties (incorporating income and expenditure account) For the year ended 31 December 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activities Other trading acttvities Other income 16,192 22,764 7,000 342 426 16.618 22.764 7,000 342 50,468 16,881 18,334 1,499 Total income 46,298 426 46,724 87.182 Expendrture on: Raising funds Charitsble activtties 6.945 82.801 2.045 426 8,990 83,227 10,300 99,992 Total expenditure 89,746 2.471 92,217 110.292 Net expenditure (43,448) 12,045) {45,493) {23.110) Net movement in funds 143,4481 (2,045) {45,493) {23,110) Reconciliation of funds: Total funds brought forward Net movement in funds 253,807 (43,4481 12,123 (2,045) 265,930 145,493) 289,040 123,110) Total funds carried forward 210.359 10,078 220,437 265,930 The Statement of financial activrties includes all gains and losses recognised in the year. The notes on pages 14 to 31 form part of these financial statements. Page11
The National Stone Centre (A company limtted by guaranteel Balance sheet AS at 31 December 2023 2023 2022 Note Fixed assets Tangible assets Investments 13 14 251.590 224,634 251,591 224,635 Current assets Deblors Cash at bank and in hand 15 8,468 16,370 54,005 28,892 24,838 82,897 Creditors.. amounts falling due within one year 18 {21,373) {36,077) Net current assets 3,465 4S,820 Totsl assets less current liabilities 255,056 271,455 Creditors.. amounts falling due after more than one year 17 (34,6191 15, 525) Totsl net assets 220,437 265,930 Charlty funds Restricted funds Unrestricted funds 18 10,078 12,123 Unrestricted income fund Revaluation reserve 148,531 61,828 190,284 S3,523 Total unreslricted funds 210,359 253,807 Total funds 220,437 265,930 Page 12
Registered number: 01817304 The Natlonal Stone Centre (A company limited by guarantee) Balance sheet (continued) As at 31 December 2023 The Company was entitled to exemption from audit under section 477 of the Companie5 Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in a¢cordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. B C Williams Trustee Date.. The notes on pages 14 to 31 form part of these financial statements. Pa9e 13
The Natlonal Stone Centre (A company limited by guarantee) Notes to the financlal statements For the year ended 31 December 2023 Accounting policies 1.1 Basls of preparation of financial statements The financial statements have been prepared in accordance wtth the Charities SORP (FRS 102) Accounting and Reporting by Charrties.. Staternenl 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The National Stone Centre meets the definition of a publtc benefit entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £, 1.2 Going concern The twstees have 8 reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 1.3 Income All income is recognised once the Company has entitlement to the income, it is probable thal the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Ststement of financial activities on a receivable basis. The balance cf income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Other income is recognised in the period in which it is receivable and to the extent Ihe goods have been provided or on completion of the service. 1.4 Exp¢ndltUTe Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt lo a third party, 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 classified by activity, The Costs of each activity are made up of the total of direct ¢0Sts and shared costs, including support costs involved in undertaking e8ch activity. Direet costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single adivity are apportioned between those activities on a basis consistent with the use Of resources. Central staff costs are allocated on Ihe basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 14
The Natlonal Stone Centre (A company limlted by guarantee) Notes to the financial statements For the year ended 31 December 2023 Accounting policies (continued) 1.4 Expenditure (continued> All expenditure is inclusive of irrecoverable VAT. 1.5 Taxation The Company is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect cf income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acl 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 1.6 Tanglble fixed assets and depreciation Tangible fed assets are initially recognised at cost. After recognition, under the cost model. tangible fixed assets are measufed at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tsngible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of 5ts fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less Iheir residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases= Freehold buildings Freehold land Exhibition Fixtures and fittings Office equipment Grant funded assets 2 - 5°h straighl line not depreciated 209/0 Straight line 10°/fr Straight line 10°/0 Stiaight line 20 /* Straight line 1.7 Investments Investments in subsidiaries are valued at cost less proviston for impairment. 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity ofthree months or less from the date of acquisition or opening of the deposit or similar account. Pa9e15
The Natlonal Stone Centre (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 Accounting policies (continued) 1.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle Ihe debl or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the besl estimate of the amounts required to settle the obligalion. Where the effect of the time value of money is matertal, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate Ihat reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 1.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and SLtbsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using th6 effective interest method. 1.12 Penslons The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 1.13 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furthefance of the general objectives cf the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Page 18
The National Stone Centre (A company limited by guarantee} Notes to the flnancial statements For the year ended 31 December 2023 Crltical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumption5: The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by defin*tion, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilitie5 Wlthin the next financial year are discussed below. Critical areas of judgment.. Valuation of land and buildlngs: The land and buildings value has been arrived at on the basis of a valuation carried cut by R Smalley Bsc MRICS on behalf of Lambert Smith Hamplon. Income from donations and legacle5 Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Donations Grants 16,192 16,192 426 426 16,192 426 16,618 Unrestricted funds 2022 Total funds 2022 Donations 50,468 50.468 Page 17
The National Stone Centre (A company limited by guaranteel Notes to the financial statements For the year ended 31 December 2023 Income from charitable activities Unrestricted funds 2023 Total funds 2023 Educational visits and activities Training and Courses 10,474 12,290 10,474 12.290 22,764 22,764 Unrestrlcted funds 2022 Total funds 2022 Educational visits and acttvities Training and Courses 8,007 8,874 8,007 8,874 16,881 16,881 Income from other trading activities Income from fundraising events Unrestricted funds 2023 Total funds 2023 Rental Income 7,000 7,000 Unrestricted funds 2022 Total funds 2022 Franchise Fees Rental Income 11,334 7,000 11,334 7,000 18,334 18,334 Page18
The National Stone Centre (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 Other incoming resources Unrestrlcted funds 2023 Total funds 2023 other income 342 342 Unre5tri¢ted funds 2022 Total funds 2022 Other income 1,499 1,499 Page 19
The National Stone Centre {A company limited by guarantee) Notes to the flnancial statements For the year ended 31 December 2023 Expenditure on raising funds Raising donations and legacles Unrestricted Restrfcted funds funds 2023 2023 Total funds 2023 Rates and water Insurance Telephone Repairs and Maintenance Accountancy Other office costs Volunteer expenses Computer expenses Cleaning and waste disposal Alann costs 214 325 178 1,101 446 101 328 247 200 136 120 214 325 178 1,101 446 101 328 247 200 136 120 97 3,467 239 265 1,399 59 80 112) Interest and charges Rent Depreci8tion Sundfies Advertising Light and heat Legal and professional Loss on sale of asset Slaff costs - pension costs 97 1,422 239 265 1,399 59 80 112) 2,045 6,945 2,045 8.990 Page 20
The Nattonal Stone Centre (A Company limited by guarantee) Notes to the flnanclal statements For the year ended 31 December 2023 Expenditure on raising funds {continuedl Ra5slng donations and lega¢ig$ (continued) Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Rates and water Insurance Telephone Repairs and Maintenance Accountancy other office costs Volunteer expenses Computer expenses Cleaning and waste disposal Alarm costs Interest and charges Rent Depreciation Sundries Advertising Light and heat Legal and professional Staff costs - wages and salaries Stsff costs- Nl Staff costs- pension costs 246 255 136 2,054 364 57 505 162 273 145 159 97 1,206 173 281 1,704 109 2,072 246 255 13S 2.054 364 57 505 162 273 145 159 97 1,447 173 281 1,704 109 2,072 241 56 10,059 241 10,300 Page 21
The Natlonal Stone Centre (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 Analysis of expendlture on charitable activities Summary by fund type Unrestricted Restricted funds funds 2023 2023 Total 2023 Educational visits and activities Training and Courses 74,651 8,150 74,651 8,576 426 82,801 426 83.227 Unrestrl¢ted Restrlcted funds funds 2022 2022 Total 2022 Educational vistts and activities Training and Courses 90,519 7,309 2,164 92,683 7,309 97,828 2,164 99,992 Anatysls of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Educational visits and acttvities Training and Courses 74,651 74,651 8,576 8,576 8,576 74,651 83,227 Page 22
The National Stone Centre (A company limited by guarantee} Notes to the flnancial statements For the year ended 31 December 2023 Analysis of expendtture by activities (continued) Activitles undertaken directly 2022 Support ¢osts 2022 Total funds 2022 Educational visits and aclivities Training and Courses 92,683 92,683 7,309 7,309 7,309 92,683 99,992 Analysis of support Costs Total funds 2023 Totsl funds 2022 Staff costs Depreciation Rates and water Insurance Light and heat Telephone Repairs and maintenance Other office costs Volunteer expenses Computer expeneses Cleaning and waste disposal Alami Gosts Interest and charges Rent Advertising Legal and professional Sundries Loss on the sale of assets Recharges from group companies Governance costs (109) 10,748 1.928 2,929 12,586 1,601 9,910 910 2,955 2,222 1,801 1,221 1,084 875 2,380 530 2,148 715 14203 4,014 19.191 13,019 2,217 2,291 15,333 1,222 18,490 512 4,544 1,461 2,455 1,305 1,428 875 2,527 979 1,557 3,277 74,651 92,683 Page 23
The National Stone Centre (A company limlted by guarantee) Notes to the financial ststements For the year ended 31 December 2023 10. Independent examlner's remuneratton 2023 2022 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts 3,300 2.850 11. Staff costs 2023 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 20,721 47 556 (121) {121) 21,324 The average number of persons employed by the Company during the year was as follows.. 2023 No. 2022 No. Administration No employee received remuneration amounting to more than £60,000 in either year. Page 24
Th& National Stone Centre (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 12. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits {2022 - £NIL). During the year ended 31 December 2023. no Trustee expenses have been incurred (2022- £NIL}. 13. Tangible fixed assets Fixtures and Office fittlngs equlpment Grant funded assets Freehold property Exhibition Total Cost or valuation At 1 January 2023 Additions Disposals 393,774 775 18,286 37,055 629 32.54S 1.158 (7951 9,206 51,559 490,866 54.121 {7951 At 31 December 2023 394,549 18,286 37,684 32,908 60,765 544,192 Depreciation At 1 January 2023 Charge for the year 190,914 10,313 18,286 27.959 3.140 27,232 764 1,841 12,153 266,232 26,370 At 31 December 2023 201,227 18,286 31,099 27,998 13,994 292,602 Net book value At 31 December 2023 193,322 6,585 4,912 46,771 251,590 At 31 December 2022 202,860 9,096 5,313 7,365 224,634 Included in freehold property is freehold land of £64,800 (2022: £64,800) which is not depreciated. The freehold land. exhibition hall and portacabin office were revalued on 9 September 2003 by R Smalley Bsc MRICS on behalf of Lambert Smith Hampton, a business external to Éhe charity, on an open market value for an exists'ng use basis at £195,000. Pa9e 25
The National Stone Centre {A Company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 14. Fixed asset investments Investments In subsidiary companies Cost or valuatlon At 1 January 2023 At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 Principal subsldlarles The following was a subsidiary undertaking of the Company.. Name Company number Class of shares Holding NSC Go Limited 10619675 Ordinary 1000 The financial results of the subsidiary for the year were.. Name Income Expenditure Net assets NSC Go Limited 208,546 (202,886) 2,176 Page 26
The National Stone Centre (A company limited by guarantee) Notes to the flnancial statements For the year ended 31 December 2023 15. Debtors 2023 2022 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 24,496 29,085 6,351 1,559 558 424 8,468 54,005 16. Creditors: Amounts falling due withln one year 2023 2022 Trade ¢dItorS Amounts owed to group undertakings Other taxation and social security other credrtors A¢¢ruals and deferred income 1.099 477 5,056 2,350 20,121 8,550 118 19,679 21,373 36,077 2023 2022 Deferred income at 1 January 2023 ReSoUeS deferred during the year Amounts released from previous periods 10,887 42,079 (5,362) 10,887 47,604 10,887 Included in deferred income is a capital grant and Gourse income received in relation to future periods. 17. Creditors: Amounts falling due after more than one year 2023 2022 Accruals and deferred income 34,619 5,525 Page 27
The Natlonal Stone Centre (A Company limited by guaranteel Notes to the financial statements For the year ended 31 DeGember 2023 18. Statement of funds Statement of funds- current year Balance at 31 December 2023 Balanc• at 1 January 2023 Transfers inlout Income Expendlture Unrestricted funds Unrestricted income fund Revaluation reserve 190,284 63,523 46,298 (B9,746) 1,695 (1,695} 148,531 61,828 253,807 46,298 (89,7461 210,359 Restricted funds Childrens play area MDEM - Museum of Geology 8nd Quarrying Public spec display cabinets Quarrying - Collections MODES &pc Veolia - Signage & trail improvemenl Museums - Storage Equipment Grant DCC Heating System Grant Tarmac Limited Landfill CommunÉties Grant 6,329 1496) 5,833 602 (136> 466 61 {35) 26 1,080 {1,080) 266 3,785 {72) 1226) 194 3,559 426 1426) 12,123 426 (2,471) 10,078 Total of funds 265,930 46,724 192,217) 220,437 The specific purposes for which the funds are to be applied are as follows.. Revaluation Reserve The revaluation reserve relates to the uplifi in the propety value. Restricted Funds All restricted funds relat& to assets held in fixed assets which were bought with grant$ or specific donations and they are being written off over their useful lrfe. Page 28
The National Stone Centre (A company Ilmited by guarantee) Notes to the financial statements For the year ended 31 December 2023 18. Statement of funds (contlnued) Statement of funds - prior year Balance at 31 December 2022 Balance at 1 January 2022 Transfers Inlout Income Expendlture Unrestricted funds Unrestricted income fund Revaluation reserve 206,528 65.248 87,182 {107,887) 4,461 {1,725) 190,284 63,523 271,776 87,182 {107,887} 2,736 253.807 Restricted fund5 Rotsry club of Wirf(sworth Childrens play area MDEM- Museum of Geology and Quarrying - Public spec display cabinets Quarrying - Collection5 MODES &pc Permanent exhibition area Veolia - Signage & trail improvement MDEM - Visitor monitoring fund Museums- Collections & Access Grant Fund Museums- Storage Equipment Grant DCC Heating System Grant 480 6.825 (480) 1496) 6,329 1,019 (136) (281 } 6Q2 96 501 {35) 61 (501) 2,520 250 (1,440) 1,080 (250) 680 (680) 882 4,011 (72) 1226} (544) 26S 3,785 17,264 (2,405) (2,738) 12,123 Total of funds 289,040 87,182 {110,292> 265.930 Page 29
The Natlonal Stone Centre (A company Ilmlted by guarantee) Notes to the financial statements For the year ended 31 December 2023 19. Analysis of net assets between funds Analysis of net assets between tunds • current year Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 194,739 56,851 251,590 24,838 25,400 (34,6191 24,838 121,373 134,6191 (46,773) Total 210,359 10,078 220,437 Analysis of net assets between funds - prior year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Currenl assets Creditors due within one year Creditors due in more than one year 205,145 19,489 224,634 62,897 (8,711) {5,525) 20.000 {27,3661 82,897 136 077) (5,525} Total 253,807 12,123 265,930 20. Pension commitments The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those Of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted lo £Nil (2022. £556) Contributions totalling £Nil (2022_' £Nil} were payable to the fund al the balance sheet date. 21. Members. liabiltty Each member of the charitable Company undertakes to contribute to the assets of the company in the event of it being wound up while helshe 15 a member, or within one year after helshe ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before helshe ceases lo be a member. Page 30
The National Stone Centre {A company limited by guarantee) Notes to the fSnanclal ststements For the year ended 31 December 2023 22. Related party transactions The charitable company has taken advantage of the exemplion provided in Financial Reporting Standard 102, Section 33 'Related Party Disclosures,. Disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsicliary which is party to the transaction is Whol owned by such a member. 23. Controlling Party At 31 December 2023, the immediate and ultimate parent undertaking is The Institule of Quarrying, a company incorporated in England and Wales and registered in England and Wales. Copies of the financial statemenls for The Institute of Quarrying can be obtained from its registered office, National Stone Centre Porter Lane, Wirksworth, Matlock, Detbyshire, England, DE4 4LS. Its registered company numbei Is OOS06601 and charty number is 244812. The directors consider that The Institute of Quarrying exercises control over The National Stone Centre by virtue of the Gompany being conlrolled by the same Bcard members of those on the board of The Institute of Quarrying. The parent undertaking of the largest and smallest group to consolidate their financial statements is The Institute of Quarrying, a company incorporated in England and Wales and registered in England and Wales. Copies of these financial statements can be obtained from National Slone Centr& Porter Lane, Wirksworth, Matlock, Derbyshire, England, DE4 4LS. At 310ecember 2023, the Directors considered there to be no ultimate controlling party of The Institute of Quarrying. Page 31