Reglstered numb8r: 0007385S (England and Walosl Charity number: 529952 THE BRONTE SOCIETY (A Company Llmited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The Bronte Society
THE BRONTÈ SOCIETY {A Company Limited by Guaranto8) CONTENTS Page Reforence and Admlnlstratlvo Detalls of th• Charlty. Its Trustees and Advlsers Chalrf8 Statèment Trustees. Report Independent Auditors, Report on the Flnanclal Statements Consolldated Statement of Flnanclal Actlvltl•s 4-16 17-20 21 Consolldatod Balance Sheet 22 Charlty 8alan¢o Sheet Consolldated Statement of Cash Flow• 23 24 Notes to the Flnanclal Stat•m•nts 25-51
THE BRONTÈ SOCIETY (A Company Llmlted by Guarant¢o1 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustoas J M Sladdin, Chair of the Board of Trustees SKBari L J Beare R L Dunbar (appointed 12 July 2023, resigned 22 February 2024) C M Gallagher J R Gration P A Jenkins H C Meller A J Midgley L G Powrie {appointed 18 May 2023) V R Sanders Company rn918tor number 00073855 (England and Wales) Charfty reglstered number 529952 R•g18t•rod offlce Bronta Parsonage Museum Haworth KEIGHLEY West Yorkshire BD22 8DR PrMldent Dame Judi Dench CH DBE FRSA Sonlor Leader$hlp Team R J Yorke- Director C Dewhirsl A Dinsdal8 G Price M Tomlinson Ind¢pondent audltors Clive Ow8n LLP Chartered Accountants & Statutory Auditors 140 Conisclrffe Road DARLINGTON County Durham DL3 7RT Page 1
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Sollcltors Wrigleys 3 Wellington Place LEEDS LS14AP Invegtment Advlsern Char18s Stanlay & Co. Limited 7 Park Row LEEDS LS15HD Page 2
THE BRONTÈ SOCIETY (A Company Llmltsd by Guarantae) CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The chair presents his statemenl for Ihe year. The report that follows details all that Tha Bronta Society achieved in the financial year ending 31 March 2024, The 2023 - 2024 financial year has been a very positive year for Ihe Brontè Society and has enabled us to take concreté steps towards making important capital investments in relation to the infrastructure of the Society and its Museum which w8 expect to provide much needed and significant tulure benefit to us in temis of business resilience and visitor accessibility. We are proud to be a National Portfolio Organi5ation for literature and continue to be extremely grateful for the support of Arts Council England. The Senior Leadership Team and Board of Trustees have worked to embed the Arts Council's Investmanl Principles (ambition & quality,. dynamism,. inclusivity & relevance and environment81 fesponsibility) across the organisation, awar8 that they are vital tools which will help us fulh'l our vision and mission and Contribute to a fairer. greener, culturally-rich society. In May 2023, Arts Council England (lesignated the collections al the Brontè Paisonage Museum as 'Outstanding' an accolade shared with only 154 other museums and galleries in England. We have seen increases in the number of general visitors and school groups and our team has undertaken further training in access and diversity awareness to ensure everyone has a welcoming and unforgettable experience. We worked in. partnership with the British Library and the University of Leeds Libraries and Galleries to present the successful 'Becoming the Brontas, axhibition which welcomed over 7,000 visilors between June and October. The Society also launched a digital guide to the museum on the Bloomberg Connects app in December 2023 and released the first series of our podca8t, '8ehind the Gla$5' in March 2024. These innovative, digital assels enhance people's experience of, and $6ns8 of connection to, the 8rontO Parsonage Museum and make it more accessible, fresh and relevant. The financlal rasults for the 2023-2024 year are also extremely positive. Incomo from admissions grew a$ we welcomed more visitors to the Parsonage and extended the number of days wa opened during thè summar months. Towards the end of 2023-2024 the Society was fortunate to receive a Significant bequesl of almost £325k and the Society intends to use this to fund future projects which will ensure the continuing resilience of the organisation. All of these achievements over the last twelve months give us cause to feel proud and optimistic as we enter a new financial year, We recognise that there are likely to be signifKant chall8ng8s ahead as we continue to operata in uncertain times and that ensuring our future resilience is key. We are confident that we can achieve this by continuing to invest in much needed improvements to the infrastructure of our Society and Ihe Parsonage Museum. Our two major projects for 2024 - the construction of fully accessible visitor facilities and a new website with updated. integrated systems will both make a significant contribution to our efforts to remain relevant, sustainable and accessib18. This capital investment will be supported by continuing lo build closer connections with our local communities and our digitsl global audience. By collaborativ8 working with local and national partners we will seize the opportunities created by Bradford's year as UK Cily of Culture in 2025 and the Brontè Parsonage Museum's centenary in 2028 to secure Ihe future of our Society, J M Sladdin, Chair of the Board of Trustees Date.. 23 July 2024 Page 3
THE BRONTÈ SOCIETY IA Company Llmlted by Guarant•o) TRUSTEes' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, are also Dire¢t¢rs of the charity for the purposes of the Companies Act 2006, present their annual report together with the audited consolidated financial statements of the Charitable Group for 1 April 2023 to 31 March 2024. The Trustees confirm that the annual report and financial statemenls of the Company comply with the current statutory requirements. the requirements of the company's governing d(Ument and the provisions of the Statement of Recommended Practice {SQRP}. applicable tD charities preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 08JECTIVES AND ACTIVITIES ObJectlv8s and Alms Tha Bronto Society is an oufvRrd-looking, mutti-faceted organisation with literature at its heart. It was founded in 1893 to establish and mainlain a museum and lo promole interesl in the life and works of the Bronto family. Haworth Par80nage, now the world-famous and accredited Brontè Parsonage Musèum, opened to the public in 1928 and has since welmed ¢)ver a million visltors. We are a global organisation rooted in Yorkshire identity and landscape. Our collection of Brontè manuscripts and personal possessions, displayed in the rooms where the Brontas lived and wrote some of the giealest novels in the English language. is the largest in the world. The charltable objoctlves of tho Socl•ty aré: To promote interest in the life and vKrk$ of the Brontè family in particular, but not exclusively, by establishing and mainlaining permanent museums. galleries and Ilbrarias for the public benefit,. To acquire by donatlon. purchase, or othepwise, and to renovate and preserve artefacts, books, pamphlets, manuscripts, engravings, paintings, drawings, photographs, clothing, furniture and other objects of or ralating to the Brontè family, and if thought frt. of other authors, for the public b8n8fit; To provide for the examination of the literary remains for further scholarship and better understanding of the lives and VK*rks of the Brontos and their writing. and rf thought frt, of other authors, and publication of the memolrs of the Brontè family and other alrthors for the public benefit: To promota the advancement of literature and the arts and lo iniliate projects that deepen Illèrary engagement localty, nationally and throughout the world and which are rendered inl&re6ting by their association with the Brontè family for the public benefit., To do all Such things as are Incidental or conducive to the attainment of the above objectives, The Bronto Soclety's vlslon Is: 'To bring Ihe Brontos to the Wor and the worfd to Yorkshire,. We do this, not only by being an intemationally-renowned visitor attraction, but through our creative programmas, expanding digltal offer and w01n9 in partnership with other museums and literary houses. Our mlsslon Statement lg: To celebrate the lives and KrkS of the Brontès, widening access to their legacy and sharing their contemporary significance th a global audience. We conseple, interpret, display and build creative engagement through our wOrldlasS collection and the landscape thal inspid the Brontés, We champion new writing loday, particularly by women. and promote better und8rstanding of the Brontès. lives and works. Page 4
THE BRONTÉ SOCIETY (A Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES (contlnued) Th• Bronto Soclety seeks to promote the followlng value3: Ex¢ellen¢¢: This will underpin all our endeavours. We will be informed, authoritaliv8, consistent ancl constantly benchmarking to ensure we raise standards t¢ foster our slatus as the world's leading authority on 8rontè lrterature and history, dedicated to maintaining their legacy and consistently operating with financial and organisational efficiency. We aim to have the highesl professional standards in all that we do. Insplratlon.. We will ensure that all our activities have the maximum impact on ¢ur audiences, welcoming them physicalfy as well as digitally. stimulating and engaging them at all levels with m8rnorable experiences and enriching their lives through the Brontè experience. Creatlvlty.. We will be imaginative, responslve. progresslve and original in the way we approach our activitiès and operations bringing the widest audiences to the Brontos, story and their works through creative displays, exhibitions and programming. The Bronto Society has a Commitment to equallty, dlverslty and Incluslon and to prornoting a positive culture which celebrate5 difference, 8nsures fairness and challenges prejudice, In a¢¢ordance with this commitment, and the values of Excellence, Inspiration and Creativty listed above, the Brontè Sociely will foster a positive working environment and wider membership community where Trustees, slaff, volunteers and members treat each other with dignity and respect at all times, and wh&re bullwng, harassment and discrimination ara known to be unacceptable. We will invest in our Trustees, staff and volunteers, providing training, support, opportunity and encouragement, and restructuring appropriately, We will commit to governance and staff revi8WS to ensure we have the right people with the right skills in the appropriate positions, to help u$ achieve our objeclives. The strateg1¢ alms of tho Soclety durlng 2023-24 wore: To Greate hIgUalItY opportunilies for artists, audiences and particlpant$. To provide visitors and customers with an excellent physical and online experience. To place dr4ersity, inclusiviiy and relevance at the centre of all VR do. To manage and share our Museum and collectlons in Ilne wlth our accredited status. To increase resilience thiough dynamism, data and digital, To become a more sustainable and environmentally responsible organisalion. Maln actlvltles undertaken to further the Charltablo Group's purpos for th¢ publlc beneflt The Charitable Group's aims and achievements are sel out within this report and have been undertaken to further the Charitable Group's charitable purposes for the public benefit. The Trustees have complied wrth their duty t¢ have due regard to public benefrt guidance published by the Charity Commission. The Charitable Group considers that it satisfies tha public benefit requirement as the Bronta Parsonage Museum is open to all members of the United Kingdom and worldwide, making its collects'ons accessible for scholars and general visitors, via its public programmes and use of digital techn¢logie5. Page 5
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE Charftable objectlves Our museum is a home for the #nagination, a place of solace and stimulation. Our displays prcfflole ¢realive engagement and our artistic programrne interrogates and makes connections with our collections in innovative ways. Liteialure is al the heart of our work. but taking our cu8 from the Brontas, own multidisciplinary talents, we explore Brontè links with other artforms, linding new ways to see and engage with our collection and test new ways of reaching and inspiring future generations. Our léarning and outreach programmes educate, inspire and d8monstrale the r818vance of the Brontès, lives and work to contemporary society. Bronta Genius, a wholty-owned trading company, runs the Bront4 Parsonage Museum shop. commissioning and selling items that reflect thè lives and storie5 of the Brontès and the mus8um collection, lo help further the Society's charitable objectives and support rts activities. These are consistent wilh the objectives set out in the Articles of Association. Page 6
THE BRONTE SOCIETY IA Company Llmlt•d by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (continued) ACHIEVEMENTS AND PERFORMANCE l¢ontinuod) Strateglc objectlves During Ihe perio(11 Aprll 2023 - 31 March 2024. the following achievements were recordad against our strategic objectives: l. To create hlgh-quallty opportunltles forartlsts, audlenc•s andpartlclpants In February 2023. the Parsonage opened with a new exhibition, 'The Brontès and the Wild.. which considered how landscape, weather and the natural world play an important role in the lives and work of the Brontès. A central element of the exhibition was the Brontè family's annotated copy of Thomas Bewick's A History of British Birds, displayed alongside copieg of Bewick's woodcut illustrations made by Emily and Charlotte. 'Secret Lives of the South Pennines.. a display of woodcuts by Angle Rogers, opened In the Museum foyer at tha same time for a period of three Months. The museum exhibition set the theme for our accompanying contemporary arts and events programme. 'Hardy and Free., an immersive audio-visual commission by Carolyn Mendelsohn told the unique sloiies ¢f twelve extraordlnary women whose livas arè intrinsically linked with Yorkshire and the natural world. In April 2023, poat lan Humphreys VMS appointed as our Writer in Residence. Over the following 12 months, lan led walks and workshops resulting in a Haiku First Aid Kit and a new series of stirring poems which are currently available to listen to via QR codes displayed in the field behind the Parsonage. The 12th annual Brontè Festival ol Women's Wrlting was held 22 - 24 September 2023. Programmed on the theme of 'W¢m¢n Of the Wild,, the weekend included readings, performances, woikshops and othèr opportunities for participation 8nd talent development. In line with our commitment to widening acces8. the festival was delivered in hybrid format, with events taking place in Haworth also available online, either wia live- stream or by sharing recorded sessions. Our current exhibition, 'The 8rontès' Web of Childhood. opened in February 2024, telling a story of childhood resilience through imagination, and exploring how their earty experiences shaped the 8rontés as writers. 2. To provlde vlsltors and customers wlth an excellent physlcal and onlln• •xp•rf•n¢• Reviews collected via Google and TripAdvisor and comments in our visitor books indicate that the visitor experience at the Bronto Parsonage Museum is OVeh81M1ngfy positive. Inveslmenl in staff training and development has been a major factor in generating repeal visits and complimentary feedback. as has our expanded programme of fre& talks and holiday activities, The addrtion of a Digital Project Assistant post to support the Marketing and Digital O[rer has added capacity to the Staff team and helped accelerate our digital development. An agency has been commissioned to build a new website over summer 2024 and we continue to share our colleclions di9italty via the Bbomberg Connects app. Page 7
THE BRONTÈ SOCIETY IA Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT {contlnuod) ACHIEVEMENTS AND PERFORMANCE (contlnued 3. To place dlverslty, Incluslvlty and relevance at th• centre of all we do During the year, we welcomed groups from the wider Bradford area and continued to work closely with Holycrofl Primary School in Keighley. facilitating visits for families who would nol ordinarily visit the Museum. This initiative, supported by funding from Bradford Council has been incredibly succassful.. between 1 April 2023 and 31 March 2024, we welcomed 70 Holycroft families to the Parsonage. offerin9 an introductory talk and walk as part of thair free visit. Our organisational•wide EDIB (Equty, Dtversity, Inclusion and Bèlonging) group met throughout the year and the Museum took part in EDI and Access training offered by Museums D8V81opment Yorkshire. Oui staff and volunteers have also undertaken training in Autism Awareness and Trans and Non4)inary Inclusion. We have updated our large print guide. introduced 'calm' bags for neurodivergant visrtors and provided Pride lanyards I badges for staff to show that evaryone is welcome. A significant barrier to access has been the lack of visrtor toilet facilities at the Brontè Par80nage Museum, During 2023, we successfully applied for funding from Bradford 2025 Cultural Capital Fund and Arts Coltncil England's Capital Investment Programme and VIrk on this important pr¢ject will commence in summer 2024. 4. fo manage and shar• ourmuseum and collectlon8 In Ilne wlth our accr•dlt•d status The Bronta Parsonage Museurn houses the worfd's largest collection of Bronta material which is shared with our visitors, liv8 and online audiences and researchers. In May 2023. Arts Council England awarded the Brontè Parsonage Museum 'Designation' status. The Designati¢n Scheme identifies and celebrates outstanding collections. which "deepen our understanding of the world and what it means to be human. The Museum's displays are refreshed each year and presented alongside a special exhibition. 'The Bronlès and Ihe Wild. ran throughout 2023 and included two woodblocks engraved by Thomas Bewick on loan from the Wordsworth Trust, Grasmere. Acqulsltlons Every year the collection gfOWS through purchases and donations. The following ilems came as donatlons to the Museum colleclion between 1 April 2023 and 31 March 2024: A notebook campi18d by Jonas Bradley of Stanbury, containing black and white photographs of the Haworth area. A wat8rcolour palntlng by Peter Brears. showing the Parsonage kitchen with Charlotte cutting up the hash, watched by Emily, Keeper and Tiger. A first edition copy of The Professor, inscribed by Joseph Green, son-in-law of Emily WheefvKight. The Socioty also purchased Palrick Bronto's letter lo Mr Hartley. dated 27 May 1858, and a miniature portrait of Reverend Thomas Tighe. Loans In January 2024 we were loaned Charlotte Bronto's christening bonnet and a penwork box, believed to hav8 belonged t¢ Charlotte. Both items are on display at Ihe Parsonage throughout 2024. The diary of John Kitson of Haworth came as a loan from Keighley Local Studies Library and is displayed as part of 'The Brontog, Web of Childhood, exhibition. Page 8
THE BRONTE SOCIETY (A Company LIffltt by Guarant¢• TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (contlnued) ACHIEVEMENTS AND PERFORMANCE (contlnued) Consarvatlon and malntenanc• David Everingham completed work on the Cleaning and conservation of the Apostles cupboard 5hortty before Christmas 2023. Tho proj8Ct attraded media attenlion, appearing in the Guardian and th Yorkshire Post. An image of David and his colleague working on the cupboard was also included amongst the 'most striking photos from the UK in 2023, on the BBC News website. David returned to the Parsonage in early 2024 to carry out a survey of the trwenty oil paintings in the Co1ction by Branwell Bronta. 5. To Increase reslllence through dynamlsm, data and dlgltal Flnance W& achieved an operating surplus in excess of our budget lor the year ended 31 March 2024, which will enable us to continua to increasè our lavel of reserve$. The So¢i&ty is very grateful for bequests received during the year totalling £340k and the Trustees have allocated these to designated Conservation. Museum Acquisition. Digital Development and Capital Projects Funds to ensure the continuing resilience of the organisation. Full details of these allocations are included in Note 22 to the financial statements on page 46. When the value of the bequests is excluded from the net operating result for the year, we still achieved 8 surplus ahead of the original budget. The museum opened to visitors for six days each week for a longer period during 2023-2024 and this contributed lo an increase in the number of visitors vKlcomed to the mu8eum and in the admissions income for Ihe year. We Vre in receipt of NPO funding throughout the year and in addition, we recelved both regular fundlng frcn Bradford Council and funding for specific projects. The Brontè Society is very grateful to these Qrganisations for their ongoing support. Digltal Our daveloping online programme of tslks and 'Brontè Lounge, evenls conlinued to attract audiences from all DV8r the world and receive positive feedback. Notable successes include an online event hosted in partnershlp with Elizabeth Gaskell's House, Jane Austen's House and Chawton to celebrate International Women's Day 2023. During the autumn of 2023, we ran a six-week online course, 'The Brontès and the Gothic, led by Dr Sam Hirst, which was attended by Brontè enthusiasts from Arnerica to Japan. A major addrtion to our digilal programme vts5 'Behind the Glass.. A Parsonage Podcast., Eight episodes with special guests were recorded duiing 2023 and broadcast commenced in spring 2024. Marketing Due to environmental concerns and reduced budgels. our marketing for the year 1 Apiil 2023 lo 31 March 2024 focused on digital methods. Our social media platforms continued to grow, and engagement with our online community fk)urished throughout the period, with our reach on Facebook, Twitter and particularly Instagram increasing signrficanlly on 2022-2023 numbers. PR and m•dla The Bronta Society and Bronto Parsonage Museum attracted high-profile media coverage throughout the year, especially in relation to the DeSnatIOn Award and the 'Be¢oming the Brontès, exhibition. We continued to allocate budget lo working with a PR agency to support our media activity and this relationship offers substantial return on investment, During 202>2024, w8 hosted several production crews including ITV News, who broadcast tha weather forecast live from the Parsonage in March 2024. P89e 9
THE BRONTÈ SOClErY IA Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (contlnued} ACHIEVEMENTS AND PERFORMANCE (contlnued 6. fo be¢ome a more sustalnable and envlronmantalty r•sponslble organlsatlon The landscape and natural world are fundamental to the Brontès, work and an important part of at visilors to the Brontè Parsonage Museum, srtuated on the edge of Yorkshire moorland, experience. The Bronto soCtY has strong commitment to environmental responsibility and this continued to be a ¢on5Kleration in every aspect of our work during the year. Our organisation-wide Green Group continued to meet quarterly to discuss ecological inikn'aliva$ and different ways lo further reduce our carbon footprint. Six further members of staff have been certified as 'Carbon Literate, and training in this area continues lo be rolled out across the workforce, Page 10
THE BRONTÈ SOCIETY (A Company Llmlted by Guaranlee TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (contlnued) ACHIEVEMENTS AND PERFORMANCE (contlnued) OTHER ACTIVITIES Learnlng and engag8m8nt Young people and children are a key focus, The Parsonage was a famlly home and the Brontas wrote from a young ag8. Our fonnal leaming programme is praised by teachers and during the period ending 31 March 2024, we saw the numbers of school groups increase. While many of our school woikshops are curriculum-linked, cieativty is embedded throughout. We position the visit as connected to th8 creative process. enabling studants to take advantage of the immersive nature of the Museum, the imaginative potential of our collection, and the sensory connection with the outdoors. We offer free workshops for local schools, forging stronger link3 and a sense of ownership of the Museum. The Bronté Society is extremely proud to have been involved in the Bradford Young Poets programme during spring 2023. Working in partnership wilh the National Literacy Trust. the Brontè Parsonage Museum hosted free visits by a number of schools in Bradford that were identified as being in areas of low cultural engagement. The Brontè story, our collection and surrounding landscape were used as inspiration for creative writing sessions led by a poet and facilitated by our staff. volunteers and teachers from the individual schools. Publl¢atlon¥ The Bronta Society's journal, 'Bronta studies, edited by Dr Claire O'callaghan. was published three times during the period. During 2023 - 2024. ovar 2,800 institutions had access to '8rontè Studies,, and the number of article downloads was over 55,500. The journal has a global leach, with the regions of Europ8 and North America seeing the highest number of full lext downloads. 'Gazette', the magazine of the Brontè Society. was produced three times between 1 April 2023 and 31 March 2024. Editor Sharon Wright works closety with the Bronto Society Director and Principal Curator to develop the content and readership of the magazine. Bulldlng partnorshlpg During 2023-2024, we collaborated with a number of other cultural organisations, including Obscura Theatre and South Square Centre (Thomton) as well as with the British Library and Universily of Leeds Libraries and Galleries. The Society 81s0 continued to develop effectlV8 partnerships with other Bradford NPOS, namely Bradford Museums and Galleries, Bradford Literature Festival and Ilkley Literature Festival (now Word Up North). These relationships are set to slrengthen as we approach Bradford's year as UK City of Culture in 2025. Our outreach programme is an important aspect of building new partnerships in order to reach people and communities who are not familiar with the Museum. Many of these people are local to us, in the Bradford district and Qur work with them is ongoing. Growlng and wldenlng the mgmbershlp of the Bronto Socloty The digital membership packages are now our most popular membership categories, wrth more than 50'A of members (who are not Lrfe Members) opting for this type of membership. This has led to a reduction in costs associated with prinling and postage and also contributes to a reduction in our carbon footprint. The Young Brontè Friend {16- 25) category continues lo prove popular vrith over 150 members in this ¢ateg¢ry by 31 March 2024. Page11
THE BRONTÈ SOCIETY IA Company Llmlted by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (contlnuod ACHIEVEMENTS AND PERFORMANce Icontlnuedl OTHER ACTIVITIES (contlnued) Developlng a posltlv• cufturo that supports staff and volunta•rs The organisation continues to foster a learning culture. embedding 8valuation and review at th8 heart of its activities. All staff and volunteers are encouraged to seek out, and take advantage of, opportunities for Continued Professional Development, including regular 'learning time, to pursue their studies of all things Bronto. All staff are paid at least the Real Living Wage and in November 2023, the Brontè Society was one of Ihe first bu8in8SS8S to sign up to the West Yorkshire Fair Work Charter. Ideas from all parts of the organisation are shared via our regular staff forum, and employees and volunteers are kept up to date With news and developments via a fortnighlty e-bulletin and a more detailed 'Br¢ntè Business,, which is produced monthly. The mental health of our wofkforce is considered as importanl as its physical health and all staff are entitled lo monthly 'Wellbeing Hour, to pursue leisure or wellbeing activities. FINANCIAL REVIEW Incom8 and •xpéndlture Total incom& for the year ended 31 March 2024 was £1,646,356 compared to £5,929,430 in thè 1S months to 31 March 2023 (including £4,559,934 relating to Herrtage Assets donated during tha period). Incom? in 2024 included 12 months, worth of National Portfolio Organisation grant from Art8 Council England and other grants, including a grant of £5k from Bradford Council to support our outreach programme. Income from museum admissions for the year to 31 March 2024 tolalled £585.854 compared to £556,223 for the 15 month period to 31 March 2023. Retail sales in the museum shop for the year ended 31 March 2024 totalled £314,674 compared with £306,671 for the 15 month period to 31 March 2023. A contributing factor to these in¢reas•s was thè decision to open 6 days a week for a longer period over the summer months. Total expenditure for the year ended 31 March 2024 was £1,243,372 compared with £1.365.378 for the 15 months to 31 March 2023. This decrease reflects the shorter accounting period. Overall, the net movem8nt in funds for the year was a surplus of £410.791 1£57.407 surplus when tho bequests are excluded) compared with £4,551.334 (or a net deficit of £8,600 excluding th8 donated Heritag8 Assets) for the 15 months to 31 March 2023. Golng concern After making appropriate enquiries, Ihe Trustees have a reasonable exp8Ctation that the Charitable Group 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 12
THE BRONTÈ SOCIETY IA Company Llmlted by Guarante¢) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT (contlnued) FINANCIAL REVIEW (contlnul Flnanclal Sustalnablllty The Bronla Society welcomed 64,069 visitors in the 12 months from 1 April 2023 and 31 March 2024, compared with 67,694 for the 15 months from 1 January 2022 to 31 March 2023. During 2023 - 2024, the Brontè Society and Brontè Parsonage Mus&um continued lo benefit financBlly as oné of Arts Council England's National Portfolio Organisations, with grant funding received for the year of £236.778. The Society is very grateful to Arts Council England for this ongoing support. which will now continua until Aptil 2028. Being an Arts Council National Portfolio Organisation yiekls benefi'ts othèr than tha immeth'ately financial. It open$ d¢X)rs to networking opportunities, training and professional dev8k)pment, being part of 'somethIng biggar,, and encourages confidence in other potanlial funders. Investment pollcy and obJectlvo8 The objectives of the investment policy are as follows: To provlde for on-going cash needs to support the operaiion of the Bronto Society and the Brontè Parsonage Museum on a day-to-day basis; To ensure the continued prOteCtn of the fabric of the Parsonage building. To provide for, or contribute towards, the purchase of new acquisitions for the Museum and its collections: To provide a basis for fulure financial planning that will carry forward the Charily's objectives. Investment revlew During th8 reporting period, the Flnanca & Audlt Committee met with Charles Stanley, the Bronte Soci&ty's Investment Managers. to review the management of the charitys investments and its goals. As th8 Soci8ty does not currently lake regular incom• from the portfolio, the decision was taken to move from a balanced to a growth approach during 2024. The 8xisting overall risk level will be maintainad for the foreseeable future, During tho year net realised and unrealised gains on investmen15 totalled £7,064 and the cost of managing the inveslments was £2,028. Reserves pollcy At 31 March 2024 the group held unrestricted reserves of £938,503, of wlw'ch £38.144 were oth8r tangible asset5 and £152,964 were investments. Restricted reserves at the year-end amounted to £90,461. The trustees have agreed, in line with many other National Portfolio Organisations. that the organisation should aim to hold Ihr88 months. worth of operating costs in reserve. Three months, worth of operating costs, being total unrestricted expenditure18ss depreciation and irrecoverable VAT, at the year-end amounted to £300,651. At 31 March 2024. total readily available unrestricted reseNes amounted to £747,397. of which the Board of Trustees has designated £324.000 for specific purposes, as set out in Note 22 lo the financial statements. Page 13
THE BRONTE SOCIETY (A Company LImtt by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Icontlnued) PLANS FOR FUTURE PERIODS During 2024 we wil consolidate the achievements of the last few years, and invest in and improve our physical and dlta1 assets in order to 'bring the Brontes to the world and the world to Yorkshire, during 2025 and beyond. We have identified the following as key areas of development: Morè efficiant and integrated collection of data and use of analytics so that we can set targets and monitor progr88s efficientty and strategically: Increased diversity in the workforce and our audiences., An upgrade of our IT systems and their integration eg website, CRM and an HR platform, to facilitate anariCS, reporting and rnore effKient working: Increased use of digital to widen a¢¢es$ to our collection (including our display8 through audio and large print transcripis l interprelation) and share our work. This work will provide the foundations for realising our ambitions for 2025 - 2027.. growing our visitor offer. expanding our office space and increasing our collects'on storage in readiness for our centenary celebrations in 2028. STRUCTURE, GOVERNANCE AND MANAGEMENT Govgrnlng docum•nt Tha Sociely is controlled by its governing document. a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companles Act 2006. The 8rontè S¢xiety was established in 1893 and opened its first museum in 1895. It is a Company limited by guarante8 {number 000738551. having been incorporated in 1902, and is registered as a charity (number 529952). The business of the Brontè Society is governed by its Articles of Association. The liability of the Members in the evenl of the Society being wound up is limited to a sum not exceeding £1 each. The number of Members at 31 March 2024 was 1.578 of whom 503 were Lrfe Members. Oryanlsatlonal Structure and d•cl8lon-maklng poll¢l The 8rontO Society is governed by a board of up to twelve trustees who are appointed at the AGM. We are proactive in developing the Board through succession planning, supported by appropriate training and induction. We want our Board to be representative of society and take car8 to 801 out th8 commitm8nt. responsibilities and expertise invofved to ensure we attract candidates with the appropriate skills and experience. The Board currentty has two sub-committees, Finance. Risk and Audrt, which meets regularly ahead of all full Board meetings and the Nominations Committee, which meets as and when required. The leadershlp and day-to-day runnlng of the Brontè Society and the Bronta Parsonage Museum is delegated to the Director, a marketing and communications professional with extensive experienc8 in th8 arts and heritage sector. The Dir6¢t¢r works collaboratively wilh the Senior Leadership Team vA)ich comprises a qualified museum professional with over 30 years, curatorial oxperion¢¢, an experienced HR and project manager. and two Heads of Finance liob share) who are both chartered accountants with more then fifty years, exp8ri8nce between them. Appolntmen( Inductlon and tralnlng of new Truslee8 At the first meeting of the Board following the Annual General Meeting the Trustees elect one of their number to serve as Chair of the Board of Trustees. All new Trustees a expected to attend an induction training session and to undertaké appropriate training during their period of office. Page 14
THE BRONTE SOCIETY IA Company Llmlted by Guarantee TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE ANO MANAGEMENT (cOntInu Key manag•m•nt remuneratlon The Trustees consider the members of the Senior Leadership Team to form the key management personnel of the Society, in charge of directing, Nnning and operating the Society ¢)n a day-to-day basis, The pay of the senior staff is revi8wed annually and in vi8w of the nature of the organisation, the Trustee8 benchmark against pay Iwels in other charities. R•lated partle8 The charity operates a Whol Own trading subsidiary, The Brontè Genius Company Limited. This company operates the gift shop of the 8rontè Society. During the year ended 31 March 2024, the company made a profit of £26.518 comparad with £12,192 profil for the 15 months to 31 March 2023. Rlsk management The Trustees have a duty to identify and review the risks lo which the Charilable Group is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. In order to monitor those risks and respond to any changes, the organis81ion maintains 8 risk register. which is monitored by the Senior Leadership Team and members of the Finance, Risk & Audit committee and scrutinised by the Board of Truste8s. Statement of Trusta•s' r•$pon8lbllltl•s The Tnjstees (who are also the directors of the Charity for thè purposes of company law) ar& responsible for preparing the Trusteos. Report including the Strategic Report and the financial statemants in accordance with 8pplicable law and Unit8d Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practica). Company law requires the Trustees to prepare financial statements for each financial year. Under c¢mpany law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of tha state of affaifi8 of tha Group and the Charity and of their incoming resources and application of resources, including their income and expendilure, for thal period, In preparing these financial ststement3, the Trustees are required to.. select suitable accounting p¢licies and then apply them consistentty., observe the methods and principles of the Charities SORP (FRS 102): make judgmants and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards (FRS 102) have been followed, yubject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity 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 Group and the Charity and hence for tsking reasonable steps for the prevenlion and detection of fraud and other irregularities. Page 15
THE BRONTÈ SOCETY (A ¢omp*ny Lknlted by Guaranteo) TRU8TEE8' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dl8¢108ure of Inlomiatlon to audltors Each of Ihe persons who are Trustees at the tlm8 when this Trustees, Report Is approved has confirmed that. so faf as that Trustee 08 aware, there is no ielevant audit infomiatlon of whlch the charitable gf¢up'8 auditors are unaware, and that Trustee has taken all the 8tep8 that ought to have been taken 88 a Trustee In order to be aware of any relevant audlt inforniation and to establish that the chantable group's auditors are aware of that information. Audltorn The auditors, Cliie Owen LLP. have Indated their willingness to contlnue In office. The deSnated Trustees will propose a motlon reappointing the audltors at a meeting of the Trustees. ZS aaZ% Approved by order of the members of the Board of Trustees On ...........,.......................................,.... on thelr beh811 ty.. and slgned A J Mldgl Trustee Page 16
THE BRONTÉ SOCIETY (A Company Llmlted by Guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BRONTÈ SOCIETY Oplnlon We have audited the financial statsments of The Brontè Society (the 'parent charrtable ¢ompanYI and its subsidiaries (the 'gfOUP') fof the year ended 31 March 2024 which comprise the Consolidated Statemenl of Financial Activities, the Consolidated Balance Sheet, the Charity Balance She8t. the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framvwork that has been appli8d in their preparation is applicable law and United Kingdom Accounting standards, including Financial Reporting Stsndard 102 'Th8 Financial Reporting Standard appllcable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accountsng Practice). In our opinion the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable companls affairs as at 31 March 2024 and of the Group's Incoming resources and application of resources, including its income and axpenditure for the year then ended: have been properly prepaied in a¢¢ordance with United Kingdom Generally Accepted Accounting Practice., and have bean prepared in accordance with the requirements of the Companies Act 2006 Basls for oplnlon We conducted our audil in accordance with Intematlonal Standards on Auditing (UK) {ISAs {UK)> and applrcable law. Our responsibilities under those standards are further described in the Audilors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accord8n¢e with the ethical requirements that are relevanl to our audit of the financial statements in Ihe United Kingdom, including the Financial Reporting Council's Elhical Standard, and we have fulfilled our other ethical wesponsibiliti8s in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis fof our opinlon, Concluslons rèlatlng to golng conc•rn In auditing the financial statements. we have concluded that the Tru3tees' use of the going concern basis of accounting in the preparation of the financial statements 1$ appropriate. Based on the work wo have performed, wo have not identified any material uncertainties reloting to entS or conditions Ihat. individually or coll8CtiV8ly. may cast significant doubt on the Group's or the paront charitable compan$ ability to ¢¢ntinue a5 a going concern for a period of at least twelve months from when the financial statements are authorised fol issue. Our responsibilities and the responsibilities of the TNstees with respect to going concern are described in the relevant sections of this report. Page 17
THE BRONTE SOCIETY (A Company Llmlt•d by Guarante•l INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE BRONTÉ SOCIETY ICONTINUED) Other Infomiatlon The Other information comprises Ihe infom)ation included in the Annual Report other than the financial stalemants and our Audilors, Report Ihereon. The Trustees are responsible for the other informats'on contained within the Annual Report. Our opinion on Ihe financial statements does not cover the othei information and. except to the extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion Ihereon. Our responsibilty is to read the other information and, in doing so, consider whether the other information 1$ materially inconsistent wilh the financial statements or our knowledge obtain8d in the course of the audit, or otherwise appears to be materialty misstated. If w8 identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives ris8 to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon on othor mattors prescrlbed by the Companles Acl 2006 In our opinion, based on the WO undertaken in the course of the audrt,, the information given in the Tru5tees' Report including tha Strategic Report for the financlal year for which the financial statements are prepared is consistent with the financial statements, the Trustees, Report and the Strate9ic Report have been prepared in accordance with applicable legal requirements. Maltern on whlch we ar• r•qulr•d to report by excgptlon In the Iht of our knowladge and under3tanding of the charitable company and its environment obtained in the counse of the audit, we have not identified material misstatements in the Trusteas, Report including the Strategic Report. We have nothing to report in respect of the followlng matters in relation to which Companies Act 2006 requires us to report to you if. in our opinion: the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been roceivad from branches not visited by us: or the parent charitable company financial Statements are not in agreement with the accounting records and retums; or certain disclosures of Trustees, remuneration $p8crfied by law are not made. or we have not received all the information and explanations require for our audit. Responslbllltles of Trustees A5 explained more fully in the Trustees, Responsibilits'e8 Statement, the Trustees (who are also the directors of the charitable c¢mpany for the purposes of cornpany law) are responsible for the preparation of the financial stat8mants and for being salisfied that they give a true and fair view. and for such intemal control as the Trustees determine is necessary to enable the preparation Df fi'nancial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the Group's and the parent charitable compan$ ability to continue as a going concern, disclosing. as applicable. matters related to going concern and using th8 going concern basis of accounting unless the frustees either intend to liquidale the Group or the parent charitable company or to cease operations. or hav8 no realistic altemative but to do so. Page 18
THE BRONTE SOCIETY (A Company Llmiied by Guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BRONTÈ SOCIETY (CONTINUED Audllors. rosponslbllltles for the audlt of thg Ilnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a vthole are free from material mi8Stat8ment, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstalements can arise from fraud or error and are considered material rf. individually or in the aggregate. they could reasonabty be expected to influence the economic decision$ Of users tsken on the basis of these financial statements. Irregularities. including fraud, are instances of nonwcompliance wilh laws and regulations. We deSn procedures in line with our rasponsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must ba alert to the risk of manipulation of the financial statements and seek lo understand the incentives and opportunities for management to achieve this. We undertake the following procedures to identify and respond to these risks of n¢n-mplI8nce'. Undefstanding the key18gal and regulatory frameworks thal are applicabl8 to the Group. We communicated identffied laws and regulations throughout the audit team and remained alert to any indications of noncompliance throughout the audit. Wo detemiined the most significant of these to be around employmont law, charity law, company law, h8alth and Safety law, taxation law and GDPR Enquiry of directors and management as to policies and procedures to ensure complian¢e and any known instances of non-compliance Review of Board minutes and correspondence wllh regulators Enquiry of directors and management as to areas of the financial 3t8tementS 3U8ceptible to fraud and how these risks are managed Challenging management on key estimates, assumplions and judgemenls made in the preparation of the financial statements. Tho$0 key areas of uncertainty are disclosed in the accounting policies. Identlfying and tèsting unusual journal entries, with a particular focus on manual journal entries. Through these procedures, we did not become aware of actual or suspectsd non-compliance. We planned and performed our audit In accordance with auditing standards bul owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non•compliance with laws and regulations is from the evenl$ and transadions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a matorial misstalement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve concealment, collusion, fofgery, misrepresentations, or override of internal controls. We are not responsible for preventing non<ompliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's websrte at.. www.fr res onsibilrties. This description forms part of our Auditors, Report. Use of our report This report is made 501ely to the charitable CoMpanS members, as a body, in accordance With Chapter 3 of Part 16 of the Compani88 Act 2006. Our audit work has been undertaken so that we might state to the ¢haiitable companvs members those matters we are required to state to them in an Auditors, Report and for no other purpo$&. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report. or for the opinions we have formed. Page 19
THE BRONTE SOCIETY (A Company L5mlt•d by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BRONTÈ SOCIETY (CONTINUED) Chrlstopher Beaumont 8A {Hons} BFP FCA DChA Isenlor Statutory Audltor) for and on behalf of Clfve Owen LLP Chartered Accountants & Statutory Auditors 140 Coniscliffe Road DARLINGTON County Durham DL3 7RT Dat?. J* Page 20
THE BRONTE SOCIETY (A Company Llmited by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Total funds Tolal Year ended funds 31 March 15 monlhs to 2024 31 March 2023 Unrnstrlcted funds 2024 Restrtcted Flxod assets funds funds 2024 2024 Note Incom• and endowments from: Donations and legacias Charitable activities Other trading activities Investments Other ineoma 363,384 931,664 333,057 16,043 9,958 3,360 366,692 931,S64 333,057 15,043 4. 622,482 974,209 327,221 5.018 500 Total Income and endowment8 1,633,048 9,958 3,350 1.646,356 5. 929,430 Expendtturo on: Raising funds Chariiable activities 9,10 11 244,140 988,104 244,140 999,232 237.223 I, 128, 155 11,128 Total expendltur• 1,232.244 11,128 1,243,372 1,365,378 Net Incom(eXpendI1Ure> before net galnsl(Iosso8) on Investments Unrealised gainsl{losse$) on inve8tment8 400,804 3,360 402.984 4, 564,052 7,807 7,807 (12, 718) Nat Incomellexpendlturol Transfers between funds 408,611 (1,170) 3,360 410,791 4, 551,334 22 {2.061) 2,061 Net movement In funds 406,550 11.1701 6,411 410,791 4,551,334 Reconclllatlon of funds: Total funds brought forward Net movement in funds 531,953 406,$50 91.631 (1,1701 6,852.361 5.411 7.475.946 410,791 2.924.611 4.551,334 Total funds carrlod forward 938.503 90,461 6.8S7,772 7,886,736 7,475,945 Page 21
THE BRONTÉ SOCIETY (A Company Llmlt•d by Guaranteè) REGISTERED NUMBER: 00073855 (England and Walm) CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 Not• 2023 Flx•d a•8•t• Tanglble assets Herltage assets Investrnenls 16 17 18 38,144 6.867,772 162,822 46,849 6,852.361 153.910 Curr•nt •s•ots Stocks Debtors Cash at bank and in hand 7,068.738 7,053, 120 19 20 61,364 71.266 802,187 62,006 47,831 422,832 924,807 532, 669 Creditors: •m¢unts falllng due within on• year 21 196,8091 (109.8449 Nel curr•nl assets 827,998 422, 825 Total a8••ts IM• curr•nt Il•bllltl•• 7.886,736 7,475,945 N•t a•8et8 7,886.736 7.475,945 Total not a88ets 7086,736 7,475.940 Charlty lunds Herttage fixed assets lund8 Re8trlct•d funds Unrestrlcted funds 22 22 22 6.867,772 90.461 938,503 6,852.361 91.631 531.9&8 Tolal fund• 7.888.736 7,475,945 The Trustees acknowledge thelr responslbilltles for complylng with the requirements of the Act vAth respect to 9¢Unting records and preparaiion of financlal statements. The financlal statements were approved and authorlsed for issue by the Trustees on ............................................ and signed on Ihelr behalf by.. 23 Z>Zts AJMld Tfus Page 22
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) REGISTERED NUMBER: 000738651England and Wal•s) CHARrrY BALANCE SHEET AS AT 31 MARCH 2024 2024 Notè 2023 Flx•d aM•t8 Tanglble assets Herltage assets Investments 16 17 18 38.144 ,867,772 187,922 46,849 6,852,361 179.010 Curr•nl •••et• 7,083.838 7,078,220 Stock8 Debtors Cash at bank and In hand 19 20 2.179 134.306 719,322 2.415 110,033 376,878 865.806 489,326 Credltors: amounts falling due withSn one year 21 (90,330) (102.505) Not curr•nt a880t• 766,476 386,821 Total i•••t• IH8 curr•nt Ilabllltles 7.849,314 7.465,041 Net •8•et• 7A49,314 7.465,041 Total n•t a88•18 7W9.314 7,465.041 Charlty funds Herlt8g8 fixed assets funds Restricled funds Unrestiicted funds 6,867,772 6,852,361 91.631 521,049 22 22 901,081 Total funds 7,849,314 7,465.041 The Chartys net movement In funds for the year was r384,273 (2023- £4. 539. 142). The Trnstees acknowledge their responslbilitles for complying wbih the requlrements of thè Act wlth respect to accounting recor<ls and preparatlon of financial statemenls. The finandal statements were approved and authorised for issue by the Trustees on .....Z 7 Zoz and sl on their behalf by: AJMld Trus The notes on pages 25 to 51 form part of these fv)ancial statements. Page 23
THE BRONTE SOCIETY IA Company Limiled by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operatlng actlvFtles Net cash generated from operating activities 366,674 121, 725 Cash flows from Invostlng a¢tlvities Dividends, interests and rents from investments Purchase of tangible fix8d assets Proceeds from sale of investments Purchase of investm8nts 15,043 (1,761) 73,205 172,706) 5.018 (3,502) 64,592 (60.424) Net cash provlded by Investlng acllvltles 13,781 5,684 Cash flows from flnanclng actlvltles Net cash provld•d by flnanclng actlvltlès Chang• In cash and cash •qulvalent8 In the year Cash and cash equivalents at the beginning of the year 379,355 127,409 295,423 422,832 Cash and cash equivalent$ at tho •nd of the y•ar 802,187 422. 832 The notes on pages 25 to 51 fomi part of these financial statements Page 24
THE BRONTÈ SOCIETY IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 Genttal Inforniatlon The Brontè Society is a private company limited by guarantee without share capital, regislered in England and Wales. The companls registered details can be found on page 1. In the event of the Brontè Society being wound up. the liability in respect of the guarantee is limited to £1 per member of the Brontè Sociely. The prior reporting period spans 15 months and therefore comparatives are not entirely comparable. Accountlng pollcles 2.1 Basls of prèparatlon of flnanclal 8tatem8nts The financial statements have been prepared in accordance with the Charities SORP {FRS 102) 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006, The Brontè Sociely meets the definition of a public interest entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless olheNrfise stated in thè relevant accounting policy. The Consolidated Statement ol Financial Activities (SOFA) and Consolidated Balance Sheet con30lidate the financial statements of the Group and its 3ubsidiary undertaking. The results of Ih? subslary are consolidated on a line by line basis. The Group has taken advanlage of the exemption allowed under sectv)n 408 of the Companies A 2006 and has not presented its own Statement of Financial Activrties in these financial statements. 2.2 Golng ¢on¢•m Th8 financial statements are prepared on the going concern basis which assumes that the company will continue lo trade for a per¢od of at least 12 months from the date of approval of these financial stalements. The Truslees have prepared forecasts that demonstrate that the Company will be able to continue to trade within existing bank facilities for a period of at least 12 months from the date of approval of the financial statements. 2.3 Fund accountlng General funds are unrestricted funds %thich are available for use at the discretion of tho Trustees in furtherance of the general objectives of the Group and which have not been designated for other puiposes. Restricted funds are funds which ar8 to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged againsl the specifi'c fund. Tha aim and use of each restricted fund is set OLrt in Ihe notes to the financial statements. Further explanation of the nature and purp¢se of each fund is included in the notes to the financial statements. Page 25
THE BRONTE SOCIETY (A Company LIMIt by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) 2.4 Incom6 All income is recognised once the Group has enlillemenl to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income feceived for specific purposes but not expended during the period is shown in the relevant funds on th8 Balance Sh88t. Wher8 income is r8caived in advance of enlitlement of receipt, ils recognition is deferred and included in creditor8 as deferred income. Where entitlement occurs before income is received. the income is accrued. Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliabty, in which cas8 tha cost of Ihe item to Ihè donor should be used. Tha gain is r8cognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic lrfe in accordance with the Charivs accounting policres. Donated facilities and services are recogniged in Ihe financial statements when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers. On receipt, donated prolessional services and facilities are recognised on the ba$1$ of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market: a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deed$ of covenant is recognised at the time of tho donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in Ihe period in which it is receivable and to Ihe extent the g¢)ods have been provided or on completion of the service. Page 26
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (contlnuod) 2.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic b8nefit lo a Ihird party, it is probable that a transfer of economic benefts will be qUired in settlement and the amount of the obligalion can be measured reliably. Exp8nditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activily. Direct costs attributable to a single aclivily are allocated directly to that activity. Shared costs which contribute to more than one activity and support cost8 which are not attributable to a single activity are apportioned between those activities on a basis ¢on3islent with the use of rasources. Support costs directty attributed to an activity have been allocated to the activity. Where support costs cannot be directly attributed to any 8Ctivily they have been allocated in proportion to direct expendrture. Costs of generating funds (direct costs) are costs incurred in attracting voluntary income, and thosa incurred in trading activities that raise funds, Charitable activities and Governanca cost$ are ¢ost$ incurred on tha Charity's edu¢attonal operations. including support costs and costs relating to the governance of the charity apportioned lo charltable activities. Expendilure on raising funds includes all expenditure incurred by the Group to raise fund8 for Its charitable purposes and includes cost$ of all fundraising activities events and non-charitable trading. Expenditure on charitable aGlivilies is incurred on directty undertaking the aclivities which further the Group's objactlves, 88 well as any a8sociated support costs. 2.6 Government grants Govemment grants are credited to the Consolidated Statemènt of Flnancial Activities on recalpt. 2.7 Int•r•$t M¢•lvablo Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group,. this is normally upon notifi'cation of the interest paid or payable by the institution with NNI)om the funds are deposited. 2.8 Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definrtion of a charitable company for UK corporation tax purposes. Accordingly. the ChaTlty is polentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains ara applied exclusively to charitabl8 purposes. Page 27
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (continued) 2.9 Tanglbla flxéd as$•ts and d¢pr•clatlon Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of Ihe asset can be measufed reliably. No depreciation 1$ Charged on the asset in the year of purchase. No dekpreciation is charged on fre8hold prop8ty as the Trustees consider its value to be not less than original cost. Tangible fixed assets are initially recognised at cost. After recognltion. under the cost mod81, tangible fixed assets are measured at cost less accumulated depreciation and any a¢cumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working Condition 8hould be included in the measurement of cost. Depreciation Is charged $¢ as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: Fixtures and fittings Computer equipment 10%- 15% on cost 330h on cost 2.10 Herltage ag90ts The Charity's collection ¢omprises assets of historical importance recognised as heritage assets previously under FRS 30 (Haritag• A$$et$> and now under the provision of the current SORP and FRS102 which require such assets to be reported in the balance sheet where information is available regarding cost or value, Ilems purchased for the collection are capitalised as heritage assets and included al Cost or value at acquisrtion in the balance sheet. Items purchased prior to the Imp18m8ntation of Curfent SORP are not capitalised. Items donated to Ihe collection are caprtalised as heritage assets at market value at the point of donation where material. Depreciation has not been provided on herita98 assets on the basis thal their residual value is such that any depreciation charge would be immaterial. A description of the collection. its management and developments during the year is given in the notes to the financial statemenls. 2.11 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot ba measur&d reliably in which case it is measured at C¢)St less impaimient. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the COnsolal8d Statement of Financial Activits. Investments in subsidiaries are valued at cost less provision for impairment, Investments hekl as fixed assets are sh¢Tr at fair value through the Ststement of Financial Activit18S. Page 28
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) 2.12 Operatlng leases Renta15 paid und8r operating leases are charged to the Consolidated Statement of Financlal Activities on a straighl line basis over the lease term, Benefits received and receivable as an inc8ntive lo sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is presentatiVe of the time pattern of the lessee's benefit from the use of the leased asset. 2.13 Stocks Stock6 are valued at the lower of cost and estimated selling price less costs t¢ sell. Stock Is measured on a first in fir8t out basi3. 2.14 Debtorn Trad& and other debtors are racognised at the Settlement amount after any trade discount off8red. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.15 Cash al bank and In hand Cash al bank and in hand include8 ca8h and short-term highty liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.16 Llabllltles and provl$lons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimated reliably. Liabilitses are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount il has received as advanced payments for the goods or sorvicas il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation, Where the 8ffe¢t of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks 8pe¢ific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. 2.17 Flnan¢lal Instruments The Group onty has financial assets and financial liabilities of a kind that qualify as basic financial instwments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value with the exception of bank loans which are subsequentty measured at 8mortiS8d cost using the effective interest method. 2.18 Irrecoverable VAT The charity was partially exempt for VAT Purposes for the year ended 31 March 2024. Irrecoverable VAT has been in¢luded in the Statement of Financial Activtties during the year within support costs. 2.19 Penslons The Group operates a defined contribution pension schem8 and the pension charge represents the amounts pay8ble by the Group to the fund in respect of Ihe year. Page 29
THE BRONTÈ SOCIETY {A Company Llmlted by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Crftlcal accountlng ostlmates and areas of Judgmenl 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 SOnabl0 under the circumstances. Critical accounting estimates and assumptions., The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, 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 liabilities within the next financial year are di8CUS8ed below. Critical areas of judgem8nl'. Stock provision - a provision is allocated against any identifml obsolete or slow-moving stock where appropriate. Income from donatlon8 and legacles Restrlcted Unrestricted R•$trl¢ted flxed assets lund8 funds funds 2024 2024 2024 Total funds 2024 Total funds 2023 Donatlon$ Bequests and donations Contemporary arts donations Collection care donations Purchase fund donations Museum redecoration scheme Education donations Piano maintenance fund Taylor & Francis Prize fund Heritage assats donations 353,384 353,384 198 48 2,699 82 2,931 50,452 335 110 4.333 99 4,014 2,205 198 2,699 82 2.931 4,000 4,000 3,350 3,350 4, 559,934 Total 2024 353,384 9,958 3,350 366.692 4, 622,482 Total 2023 50, 452 12,096 4, 559.934 4,622.482 Page 30
THE BRONTE SOCIETY (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of 5ncome from charltable actlvltles by type of Income Unrestrlcted funds 2024 Total funds 2024 Tot81 funds 2023 Museum admis8ion donations Museum admission gift aid lax Grants receivable Contemporary arts income Education group admission Events Subscription from members Conference Exhibition tax refund Bradford Council grant 541,784 44,070 238,038 2,825 40,444 13.607 33.259 4,050 1,837 11,650 541,784 44,070 238.038 2,825 40.444 13,607 33,259 4,050 1,837 11.650 514, 174 42, 049 296, 163 3,378 46,894 15,564 39,443 1,344 15,200 Total 2024 931,564 931,564 974,209 Total 2023 974,209 974, 209 Income from other tradlng actlvltles Income from non charftablo tradlng actlvltles Unr•strlcted funds 2024 Total lund$ 2024 Total funds 2023 Royalties, licensing and repo fees Income from sales 18,383 314,674 18,383 314,674 20, 550 306,671 333,057 333,067 327,221 Total 2023 327.221 327.221 Page 31
THE BRONTÈ SOCIETY (A Company Llmltod by Guarantw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment Income Unregtf Ictsd funds 2024 Total funds 2024 Total funds 2023 Dividends receivable Bank interest 3,875 11.168 3,876 11.168 2,406 2.612 15,043 15.043 5.018 Total 2023 5,018 5,018 Other Incomlng resources Unrnstrlcted funds 2024 Total funds 2024 Total runds 2023 Insurance Tolal 2023 Page 32
THE BRONTE SOCIETY (A Company Llmited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on ralslng funds Expandlturn on ralslng funds Unrastrlctad funds 2024 Total funds 2024 Tol81 funds 2023 Purchase3 and direct cost8 Wag&s and salaries Pen310ri costs 160,429 81,039 160,429 81,039 159,521 74,751 660 242,112 242.112 234, 932 Total 2023 234.932 234,932 10. Investment management costs Unrnstrlcled funds 2024 Toial fundg 2024 Tot81 funds 2023 Investment manag?ment fee8 2.028 2,028 2,291 Total 2023 2,291 2,291 Page 33
THE BRONTÈ SOCIETY (A Company Llm5ted by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysls of expendlturo on charltable actlvltlos Summary by fund typ• Unrestrfctod Restrlcted funds funds 2024 2024 Total 2024 To181 2023 Operation of Bronta Parsonage Museum 988,104 11,128 999,232 1, 128, 155 Tot812023 1, 106,959 21, 196 1, 128, 155 12. Analys18 of expendlture by a¢tlvlti88 Actlvltles undertaken dlrectly 2024 Support costs 2024 Total funds 2024 Tol81 funds 2023 Operatn of Bronto Parsonage Museum 570,417 428,815 999.232 1, 128, 155 Total 2023 581,482 546, 673 1. 128. 155 Page 34
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Analysls of oxpendlture by actlvltlas Icontlnuad) Analysls of dlrect costs Charftable actlvities 2024 Tolal fund8 2024 Total funds 2023 Slaff costs Curatorial Advertising and marketing Exhibrtion and display Education Creativ• Programm8 costs Travel and training Events Membership Conference cosls Taylor & Francis awards 424,039 35,991 29,187 4,066 4,802 49,051 8,674 7,602 2,025 4,480 soo 424,039 36.991 29,187 4,066 4,802 49.061 8,674 7,602 2.025 4,480 500 425.589 32, 733 35.567 23,476 4.360 35. 153 6,891 15,358 2,355 570,417 570,417 581,482 To1812023 581,482 581.482 Page 35
THE BRONTE SOCIETY (A Company Llmtted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Anaty$l$ of •xp•ndituro by actlvltlas (contlnued) Anaty858 of support costs Charltabl• actlvltles 2024 Total funds 2024 Totsl lunds 2023 staff costs Depreciation Travel and training Rates and water Insurance Light and heat Recruitment Communications and technology Security and fire safety Cleaning Garden Property repairs Input VAT not recoverable Mi8ce118neous Administratlon costs Bank charges (Profit)ILoss on disposal of investments Governance costs 200.115 10.468 4,234 2,011 14,783 19,783 250 29,793 16,437 4,654 4,268 11,080 19,172 1.298 18,696 17.849 743 53,181 200.115 10.468 4.234 2,011 14.783 19.783 260 29,793 16.437 4,664 4,268 11,080 19,172 1,298 18,696 17,849 743 53,181 216.848 19.913 5, 145 3, 782 17,308 15,507 325 26,663 29,003 6,477 2, 392 27, 750 25,400 1,001 67, 742 17,515 6, 708 5T, 194 428.815 428,815 546, 673 Tolal 2023 546, 673 546, 673 13. Audltors. remuneratlon 2024 2023 Feas payable to the Charitable Group's auditor for the audit of the Charitable Group's annual accounts Fees payable to the Charitable Group's auditor in respect of: All taxation advisory services nol included above All assurance services nol included above 19,326 18,000 725 470 Page 36
THE BRONTÈ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Staff costs Group 2024 Gmup 2023 Charlty 2024 Charity 2023 Wages and salaries Social security cost8 ContributK)n to defined contribution pension schemes 649,no 37,166 661.394 36.956 568,731 37,166 586, 643 36, 956 18,901 19,498 18,257 18,838 706,837 717,848 624.154 642,437 Includad within staff costs are redundancy payments totalling £nil (2023.. £nil). The average number of pers¢ns employed by the Charity during the yearwas as follows.. Group 2024 No. Group 2023 No. Charfty 2024 No. Ch8rity 2023 No. 33 33 28 28 The averaga headcount expressed as full-time eqUNalent$ was: Group 2024 No. Group 2023 Charlty 2024 No. Charity 2023 No. 23 21 20 18 The number of employees whose amployee benefrts (excluding employer pension costs) exceeded £60,000 was: Group 2024 No. Group 2023 No. In the band £60,001- £70,000 Disclosure for 2023 relates to the 15 month perlod. There are no employees that exceed £60.000 employee benefits (excluding employer pension costs and employer national Insurance) on an annual basis.The key management personnel of the charitable company comprise the Irustees and the senior managemenl team as listed on page 1. The total amount of employee benefits (including employer pension and national insuran¢e ¢ontributions) received by key management personnel for their serdices lo the charity was £175,375 (2023 - £212,657). Page 37
THE BRONTÈ SOCIETY (A Company Llmtted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Trust•og' remuneratlon and oxpenges During the year, no Trustees received any remuneration Or other benefrts (2023- £NIL). During the year ended 31 March 2024. expens88 totalling £653 were reimbursed or paid directly to 6 Trusteess (2023 - £NIL to Tnistees). Expenses reimbursments related to travel and subsistence and were repaid directly to Trustees. 16. Tanglblo flxed asg•tg Group Freehold Flxtures and property fltllngs Computer equlpment Total Cost or valuatlon At 1 April 2023 Additions Disposals 18,640 612,200 1,761 (373,467 114,213 745,053 1,761 1428,114 164,657) At 31 March 2024 18,640 240,504 59,566 318,700 D•praclatlon At 1 April 2023 Charge for the year On di$po$al8 589,055 7,743 (373,457) 109,149 2,723 154,657) 698,204 10,466 1428,114) At 31 March 2024 223,341 57,215 280.556 Net book value At 31 March 2024 18.640 17,163 2.341 38,144 Al 31 March 2023 18,640 23. 145 5,064 46,849 Page 38
THE BRONTE SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Tanglble flxed &88ets (contlnued) Charlty Freehold Flxtures and property flttlngs Computer •qulpm•nt Total Cost or valuatlon At 1 April 2023 Additions Disposals 18,640 612,200 1.761 1373.457 114,213 745,053 1,761 ¢428,114) (64,667) At 31 March 2024 18,640 240,604 69,556 318,700 Depraclatlon Al 1 April 2023 Charge for Ihe year On disposals 589,055 7,743 (373,4571 109,149 2.723 (64,657) 698,204 10,466 (428,114) At 31 March 2024 223,341 67,216 280,556 Net book value At 31 March 2024 18,640 17,163 2,341 38,144 Al 31 March 2023 18,640 23, 145 5,064 46,849 Page 39
THE BRONTÉ SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Herltage assets Group and Charlty Assets recognis•d at cost Herttage assets 2024 Total 2024 Carrying value at 1 April 2023 Additions 6,852,361 5,411 6,852,361 6,411 6,857,772 6,867,772 The Society owns tha Parsonage at Haworth vthich was the home of the 8ronlO famity from 1820 to 1861 and which was gifted to the Society in 1928. The Pafi80nage hou$ès a worfd class collection of artefacts and documents associated with the Bronta Family and their literary works. The collection Is maintained In ord8r to promote inlerest in thè life and works of the Bronto family and consists of material which belonged to the 8rontè family, their friends and associates. It Includes books, manuscripts, letters. paintings, drawings, fuiniture, household items and personal posse6sions. The Research Library Collection. also houséd within tho Parsonage building, contains secondary source material and a wide range of biographical, critical, topographical and related vrforks on the Brontè family. Today the Bronto Society continues lo carry out its founding aim,. ¢¢lleding and exhibiting material relating to the Brontés, Ilves and woiks and making them known to the widesl audience through display, online a¢¢es8, appointments to view and a lifelong learning programme. Under the Statement of Recommended Practice (SORP) 2005 and FRS30 Heritage Assets ilems purchased for the collection were capilalised and included at ¢o$t in the balance sheet and this has continued under the current SORP. The Society maintains its collection for its historical and literary value. Any valuation ig Completed withln the confines of Ihe requirements of the management and preservation of the collection and for no other purpose. In accordance with th8 provisions of the SORP. no valu? has been attributed to items acquired prior to the implementalion of the SORP 2005 due to the lack of reliable information regarding cost or valuation. Heritag8 agset acquisitions reported in the balance sheet totalled £5.411 in 2024, £4,559,934 in 2022123, £19,500 in 2021. £2,050 in 2020, £676.239 in 2019, £10,800 in 2018, £32,852 in 2017, £60,137 in 2016, £857,146 in 2015, £28,770 in 2014, £89,366 in 2013, £245.665 in 2012, £43,900 in 2011 and £226,002 prior to this date. Additions in 2016 included the kind donation by the 88C of ilems used in the production of To Walk Invisible. Access to th& colleclion 1$ promoted through educational workshops and tours as well as through general admissions to the Mus8um. The collection is detailed in the Societys online catalogue which can be accessed via the website at www.bronte.org.uk. Included wilhin the heritsge assets value is £1.5m relating to soma of tha items donated from the Honresfield Library collection. The total value of these assets is £4.5m and is jointly owned belween Th8 Bronte Society. The British Library Board and The Universrty of Leeds, and Ihese assets cannot be sold unless all three parties agree. Page 40
THE 8RONTÈ SOCIETY (A Company Llmlt¢d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Flxed assot Investmonts Cash and Llsted settlements Investments pendlng Total Group Cost or valuatlon At 1 April 2023 Additions Disposals Revalualions 146,362 72,706 (73,206) 7,101 163.910 172,706) 73,205 1,811 8.912 At 31 March 2024 152,964 9,868 162,822 Not book value At 31 March 2024 152,964 9,868 162,822 At 31 March 2023 146, 362 7,548 153,910 The historical cost ol listed investments at 31 March 2024 was £140,750 (2023.. £141,608). Inve$tmenls Cash and subsldlary Llst•d s•ttlèm•nts companles Investments pendlng Total Charlty Cost or valuatlon At 1 April 2023 Additions Disposals Revaluations 2S,100 146,362 72,706 (73.205) 7,101 7,648 (72,706) 73,206 1,811 179,010 8,912 At 31 March 2024 25.100 152,964 9.858 187.922 Not book value At 31 March 2024 25.100 162,964 9.858 187,922 At 31 Maffjh 2023 25, 100 146.362 7,548 179,010 Page 41
THE BRONTÈ SOCIETY (A Company Llmfted by Guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Flxod asset Investments (contlnued) Prlnclpal subsldlarfes The following was a subsidiary undertaking of the Charity: Name Company numbèr Raglsteréd offl¢• or prlnclpal Prlnclpal a¢tlvlty place of buslness The Brontè Genius Company Limited 06504497 Bronta Parsonage Mus&um, The gift shop in the Church Street, Haworth, Bronto Parsonage Keighley, W¢st Yorkshire. BD22 Museum 8DR Class of Holdlng shares Ordinary 100% The financial resulls of the sub8idlary for the year were-. Nam• ProflVIL0881 for th• perlod Net assets The 8rontO Genlus Company Limlted 26,518 62,622 The profit for the period 18 after taking account of an interim donation to the parent company of £10,904 (2023. £20,777). 19. Stocks Group 2024 Gmup 2023 Charlty 2024 Charity 2023 Finished goods and goods for r&sala 51,364 62,006 2,179 2,415 Page 42
THE BRONTE SOCIETY (A Company Llmitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Debtors Group 2024 Group 2023 Charlty 2024 Chartty 2023 Due wlthln one year Trade debtors Amounls owed by group undèrtakings Prepayments and accrued income 7.803 4, 727 7.803 64,032 62,470 4, 727 62,677 42,629 63,453 43. 104 71,256 47,831 134,305 110,033 21. Credltors: Amounts falllng due wlthln one year Group 2024 Group 2023 Charlty 2024 Charily 2023 Trade creditors Other taxation and social Security Other creditors Accruals and deferred income 31,027 13,140 3,920 48,722 50,876 8,651 3,376 46,941 30A73 13,140 3,920 42,797 50, 140 8.651 3,376 40.338 96,809 109,844 90,330 102,505 Group 2024 Group 2023 Charlty 2024 Charity 2023 Deferred income at 1 Aprll 2023 Resources deferred during the yéar Amounts released from previous periods 17,069 17,648 {17,069 3, 104 17,069 (3, 104) 17,069 17,648 (17,069) 3, 104 17,069 (3, 104) 17,648 17,069 17,648 17,069 Page 43
THE 8RONTE SOCIETY (A Company Llmlt•d by Guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds Statemènt of funds - current year Balanc• at 31 March 2024 Balance at 1 Aprfl 2023 Transf?r8 Inlout Galnsl (Lo$s•s) Incom• Exp•ndlturn Unréstrlcted funds General Funds - all funds Daphne Carrick Fund-raising devdopment New Building Fund Quinquennial Fund Conservation Fund Museum Acquisition Fund Digital Development Fund Capital Projects Fund 482.708 17,126 1,633,048 11,229.0761 1326,0611 7,807 548,427 17,126 3,000 3,000 39,119 13,1691 35,950 10,000 10,000 50,000 60.000 100,000 100,000 so,000 50,000 124,000 124,000 531,963 1,633.048 (1,232,244) (2,061) 7.807 938.503 Herltsge fix•d a88ats fund$ Heritage assets donations 6.852,361 3,350 2,061 6.857,772 Page 44
THE BRONTE SOCIETY (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statsment of funds (¢ontlnued Balanco at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Galn•l (Losses) Income Expendltur• Restrlcted funds Sir Tresham Lever Top Withens Collection8 Care Contemporary Arts Education Purchases British Library Museum Redecoration Reception Furniture Fund Piano Mainlenan¢e Fund Taylor and Francis Prize Fund Garfield Weston Foyle Foundation 2,000 2,129 3,672 2,000 2.129 3.620 2,188 14,182 22,731 12,789 198 2,931 2,699 2,386 17,113 25,430 12,789 435 82 617 10,306 10,306 3,915 4,382 4,000 (500 12,8081 7,415 1,674 12,758 <7,82Q) 4,938 91,631 9,958 (11,128) 90,461 Total of funds 7,475.945 1,646,356 11,243,372) 7,807 7,888,736 Page 45
THE BRONTÈ SOCIETY IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds Icontlnued) Unrestricted Funds can be used in accordance with the charilable objects at the discretion of the Trust88S. Designated Funds are those funds designated by the Trustees for specific purp0888. Th8 allocations are reviewed and adjusted on an annual basis. The designated funds are shown as unrestricted funds. Designated Funds set up during the year are as follows: Conservation Fund - to earmark funds to providè for future maintenance and consarvation of the museum's collection., Museum Acquisition Fund - to ensur8 the Society is able to respond to acquire additions to the collection when they become available., Digital Development Fund - to provide funds to continua to update the museum's systems to futureproof them and fa¢ilrtate wider access to the Parsonage and its collection; Capital Projects Fund to provide funding lo support current and ftsture capital outlay to further the fijlfilmenl of the Society's charilable objectives Restricled Fund8 are those funds where monles have boen received for a specific purpose. The restrictions placed on the funds as shown above are as follows., Sir Tiesham Lever- monies are only to be used to purchase flowers for the local parish Church; Top Withens fund - expanditure for tha maintenance of the T(w Withens 8ite', Collections Care - expenditure is restricted lo Cleaning. repairing and conserving Ihe Collection; Contemporary Arts - Donations are restricted to supporting the Contemporary Arts programme: Education - expendilure is restricted to supporting the education programme,. Purchases - expendiluro is restricted to funding acquisitions for Ihe Collection., British Library- expenditure is restricted to a "1rt8ralure in context" project. Museum R8decoration - donations received towards maintaining Ihe decoration of the Parsonage., Reception Furniture Fund - donations received for the refurbishmenl of the admissions area of the Musetsm; Piano Maintenance Fund - donation from Society member John Hennessy for the future costs of maintaining the Brontè piano., Taylor & Francis Prize Fund - consists of an annual donation from Taylor & Francis to fund the cost of Bronté Society competition: Garfield Weston - grant funding for outreach projects" Foyle Foundation - monies received to cover core costs; Transfers between funds: Transfers between funds are discussed and approved by Trustees at Council Meetings. The principal transfers during the year concern the use of unrestricted funds. Page 46
THE BRONTÈ SOCIETY IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds Icontlnuedl Statement of funds - prlor year Balance al 1 January 2022 Balanc8 st 31 March 2023 Transfers iout Gains/ {Loss&s) Income Expenditu Unrestrlctéd funds General Funds - all funds Daphne Carrick Fund-raising development New Building Fund Quinquennial Fund 450, 640 17,126 1,357.400 (1,332.414) (200) (12,718) 462, 708 17,q26 3.000 50.887 (11.768) 39,119 10,000 10,000 531,653 1,357,400 (1.344, 182) (200) (12, 718) 531,953 Herltage fixed assets funds Heritage assets donations 2,292,427 4.559,934 6, 852,361 Page 47
THE BRONTÈ SOCIETY IA Company Llmtted by Guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Statement of funds (contlnuod} Balanc8 81 l January 2022 Balance al 31 March 2023 Translgrs inloul G8ins/ (Losses) IrKom8 Expenditure Re$trl¢tod funds Sir Tresham Lever Top Withens Collections Care Contemporary Arts Education Purchases British Library Museum Redecoration Reception Furniture Fund Piano Maintenance Fund Taylor and Francis Prize Fund Garfield Weston Foyle Foundation 2,000 2, 129 3,572 2, 129 3,462 Ito 1, 853 10.168 18,398 12, 789 335 4,014 4,333 2, 188 14, 182 22,731 12, 789 336 99 435 244 244 7,901 2, 205 200 10,306 2,915 15,836 1,000 3,915 4,382 (11.454) 22, 5QO (9. 742) 12,758 100,531 12,096 (21, 196) 200 91.631 Total of funds 2,924,611 5, 929,430 (1,365,378) (12.718) 7,475,945 Page 48
THE BRONTE SOCIETY (A Company Llmlt¢d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Analysls of net assets beiween funds Analysls of nel assets tween funds - currant p•rlod Flxod assets funds 2024 Unroslrlcted Rostrlcted fund8 funds 2024 2024 Totsl funds 2024 Tangible fixed assets Fixed asset investmenls Heritage assets Current assets Credrtois due within one year 38,144 152,964 38.144 162,822 6,857.772 924,807 {96.809 9.858 6,857,772 844,204 (96.809) 80,603 Total 938,503 90,461 6,857,772 7,886,736 Analy8ls of not as¥ets between fund8 . prlor perlod Hen'tage Restricted flxed assal funds lunds 2023 2023 Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year 46,849 146,362 46,849 153,910 6, 852, 361 532, 669 (109, 844) 7.548 6,852,961 448, 586 (109, 844) 84,083 Total 531.953 91,631 6.852,361 7,475,945 Page 49
THE BRONTE SOCIETY (A Company Llm5t•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 24. Re¢onclliatlon of net movement In funds to net cash flow from oporatlng actlvltles Group 2024 G)Up 2023 Nat income for the period {as per Statemant of Flnancial A¢tNities) 410,791 4,551,334 Adjustments for: Depreciation charges Gains on investm8nts Dividends, interests and rents from Kivestments Lossllprofit) on the sale of investments Decrease in stocks Increase in debtors Decrease in creditors Donated heritage assets Revaluatlon of invèstments 10,466 19,913 2, 540 (15,0431 (5,018) (7431 (6, 708) 10,642 7, 149 (23,426) 49, 121 (13,035) 43, 702 (5,411) (4.559, 934) (8,9121 19,626 Net Cash provld•d by operatlng actlvltles 365,574 121, 725 26. Analysls of Cash and cash equlvalents Group 2024 Group 2023 Cash in hand 802,187 422.832 Total cash and cash èqulvalents 802,187 422,832 26. Anaty818 of Chang In net debt At 1 Aprll 2023 Cash flows At 31 March 2024 Cash at bank and in hand 422,832 379,355 802,187 422,832 379,355 802,187 Page 50
THE BRONTÉ SOCIETY IA Company Llmlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 27. Operatlng lease commltments At 31 March 2024 the Group and the Charity had commitments to make future minimum lease payments under non-canc8llabl8 operating leases as follows- Group 2024 Group 2023 Charlty 2024 Charify 2023 Not later than 1 year Later than 1 year and not later than 5 years 7.736 29.354 636 1,590 7,736 29.354 636 1,590 37,090 2,226 37.090 2, 226 The following lease payments have been recognised as an expense in the Statemènt of Financial Activities: Group 2024 Gmup 2023 Charlty 2024 Charity 2023 Operatin9 lease rental8 5,876 7,085 5,678 7, 085 28. Relatod party transactlons The Charitable Group has taken advantage of exemption, under the terms of Financial Reportlng Standard 102 'The Financial Repothng Standard applicable in the UK and Republic of Ireland,. not to disclose related party transactions with wholty owned subsidiaries within the group. Page 51