2022-03-31-accounts - The Essex Heritage Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE TRUSTEES ANNUAL REPORT AND ACCOUNTS

In compliance with Charities Acts

Financial Year 1 April 2021 - 31 March 2022

Trustees

J Douglas-Hughes, OBE DL, Esq (Chairman) Rt Hon Lord Petre KCVO JP MA

HM Lord-Lieutenant of Essex Mrs Jennifer Tolhurst

B J Moody Esq (Managing Trustee)

P J Mamelok, DL FCA, Esq (Hon. Treasurer)

R H Wollaston, Esq

M F Pertwee, Esq Dr J Bettley JP DL FSA Mrs S Brice Mrs K Twitchen OBE

T J Gregson, FRICS FFBE MEWI, Esq Councillor E Johnson, Chairman of Essex County Council

Administrator Mrs Sharon Hill

Trust Address Cressing Temple, Braintree, Essex, CM77 8PD

Bankers Barclays Bank, 40-41 High Street, Chelmsford, Essex

Investment Managers Quilter Cheviot, One Kingsway, London. WC2B 6AN

Charity Registration No. 802317

1. Objectives

The Trust has been established to safeguard or preserve for the benefit of the public, such lands, buildings, objects or records as may be illustrative of, or significant to, the history of the county or which enhance an understanding of the characteristics and traditions of the county.

2. Constitution

The charity is an independent organisation constituted and governed by a Trust Deed dated 27 October 1989. There have been various Deeds of Variation since the principal Trust Deed, to take account of appointment and retirement of Trustees.

Essex Heritage Trust does not have any direct relationship with any other charity or organisation.

3. Administration

Trustees meet three times a year to consider grant applications, review the Trust’s financial position and investment strategies, and deal with any other formal business. In addition, an Annual Meeting may be held, to which all the Friends of the Trust and others connected with the Trust are invited.

The Trust affairs are managed by the Management Committee supported by Mrs Sharon Hill who provides her services as a Consultant.

Applications for grants are submitted, and these are considered at the Trustees’ meetings. In reviewing applications the Trustees consider the heritage nature of the projects, and attach importance to evidence of self-help and fund raising efforts in considering whether to award a grant, and if so, how much the grant shall be.

Costs for handling projects are kept to a minimum due to the fact that the Trustees advisors give freely of their time.

The Trustees carry out a review of risks that the Trust faces on a regular basis.

4. Friends of Essex Heritage Trust

The Friends of Essex Heritage Trust was launched in 1993 and the Trustees continue to be keen to recruit more members.

Our newsletter plays a vital part in promoting the role of the Trust and encouraging enquiries. The newsletter is normally published once a year, and is sent to all of our Friends, as well as being distributed widely to parish councils and similar bodies who might seek to apply for grants.

5. Accounting Matters

The Hon Treasurer, Mr P J Mamelok DL, who is a Chartered Accountant, has prepared the financial statements assisted by Mrs Hill. The financial statements have been prepared to comply with current statutory requirements and the requirements of the Trust Deed.

The independent examination of the financial statements has been carried out by Mr P J Bentley, who is a Chartered Accountant. As such, Mr Bentley is a member of a body approved under the Charities Act 2011.

6. Grants

During the financial year, 17 applications for grants were received, and 13 were awarded a grant totalling £34,800.

At the end of the financial year, grants awarded in this and previous years but remaining unpaid at 31 March 2022, amounted to £48,468 as set out in note 2 on page 9.

7. Trust Fund

At the start of the financial year the value of the Trust Fund stood at £1,529,779. By the end of the financial year the value of the Trust Fund was £1,629,080 reflecting the effect of general market conditions on valuations at the year end.

………………………………………………………… Chairman of Trustees

Date :

GRANTS AWARDED

Location Project Grant

Audley End House & Gardens English Heritage	Conserve and display Portrait of Audley End’s former owner Sir John Griffin Griffin	£ 2,500
Harlow Art Trust	Conserve six key sculptures	£ 5,000
Johanna Dale	Publication St Peter-on-the-Wall: Heritage & Landscape on the North Sea Coast	£ 1,000
Holy Trinity Church, Rayleigh	Re-ordering of the Chancel, Access ramp between Nave and Chancel (part of Project 640)	£ 5,000
Emma Edmondson Focal Point Gallery	Publication on the hidden stories of Southchurch brickfields	£ 3,500
Juliet Townsend	Essex Women’s Commemoration Project	£ 5,000
Stow Maries Great War AerodromeTrust	Exhibition ‘Words off the Wires’	£ 5,000
Harwich Kindertransport Memorial & Learning Trust Ltd	Mayor’s Garden Listening Bench	£ 2,500
Elliot Gibbons	Publication – Southend’s Twilight Worlds	£ 1,500
Coggeshall Museum	Sound System for Oral History project	£ 800
Essex Industrial Archaeology Group	Publication of Booklet ‘Discover Essex Wind and Water Mills’	£ 500
Wivenhoe Town Council Museum	Multi-Media-Display-Space	£ 1,000
Hempstead Parish Council	Pump restoration	£ 1,500
TOTAL	GRANTS AWARDED	£ 34,800

Essex Heritage Trust

Statement of Trustees Responsibilities

The charity's trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

In preparing those financial statements, the trustees are required to:

a) select suitable accounting policies and apply them consistently;
b) make judgments and estimates that are reasonable and prudent;
c) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Examiner

In my examination of the books and records of the Essex Heritage Trust for the year ended 31st March 2022, I have, when conducting my review, recognised the Trustees financial and legal responsibilities as set out in the above statement to this Annual Report and Accounts.

My examination confirms that the Trustees have, in my opinion, met their obligations and that the Financial Statements, comprising the Balance sheet and Statement of Financial Activities together with the appended notes have been properly prepared in accordance with the Charities Act 2011.

In my opinion the financial statements give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of the charity’s affairs at 31st March 2022, and of its incoming resources and application of resources for the year then ended.

Mr P J Bentley FCA …………………………………….

Date

Essex Heritage Trust Statement of Financial Activities for the year ended 31 March 2022

Incoming Resources: Investment Income (note 4) Gift Aid Donations and Friends Subscriptions (gross) Donations Total incoming resources Less: Resources Expended Grants approved and paid Grants approved-not yet paid Grants withdrawn Total grants and donations Administration costs of the charity: Annual Meeting Insurance Licence (rent) Stationery & Postage Telecoms and Website Printing and Photography Administrator payment Computer Upgrade Sundry Investment Management Charge Total administration costs Total resources expended Net Surplus/Deficit for the year Unrealised Gains/Losses on Investments: Net movement in funds Balance brought forward 1 April 2021 Balance carried forward 31 March 2022	2021/22 2020/21 61,314 54,285 3,077 3,030 1,300 1,300
	£65,691 £58,615
	10,000 8,000 24,800 37,768
	34,800 45,768 354 327
	£34,446 £45,441
	739 0 448 400 1,400 1400 813 372 559 371 480 480 2,653 2,721 860 0 71 35 9,192 8,215
	£17,215 £13,994
	£51,661 £59,435
	£14,030 -£820 £85,271 £ 235,025
	£99,301 £234,205 £1,529,779 £1,295,574
	£1,629,080 £1,529,779

Balance Sheet Year Ended 31 March 2022

31st March 2022 £1,590,468 213 21,419 4,198 61,218 32 £87,080 48,468 £48,468 £38,612 £1,629,080 £1,529,779 99,301 £1,629,080	31st March 2022 £1,590,468 213 21,419 4,198 61,218 32 £87,080 48,468 £48,468 £38,612 £1,629,080 £1,529,779 99,301 £1,629,080	31st March 2021 £1,505,197 301 18,521 5,475 61,192 34 £85,523 60,941 £60,941 £24,582 £1,529,779 £1,295,574 234,205 £1,529,779	31st March 2021 £1,505,197 301 18,521 5,475 61,192 34 £85,523 60,941 £60,941 £24,582 £1,529,779 £1,295,574 234,205 £1,529,779
£87,080		£85,523
48,468		60,941
£48,468		£60,941

	£1,629,080		£1,529,779
	£1,529,779 99,301		£1,295,574 234,205
	£1,629,080		£1,529,779

The financial statements were approved by the Trustees on

……………………..

Mr P J Mamelok DL FCA Hon. Treasurer

Notes to the Financial Statements 31 March 2022

1. Accounting Policies :

1.1 Accounting Convention

The financial statements are prepared under the historical cost convention, as modified by the annual revaluation of listed investments to market value, and in accordance with applicable accounting standards and Statement of Recommended Practice.

1.2 Donations

All donations, other than specific donations for fundraising purposes are credited to the Trust Fund.

1.3 Investments

Listed investments are stated at market value. Investment income is brought into account when received.

All realised profits and losses on realisation of investments, and unrealised profits and losses on revaluation, are credited to the Trust Fund

2.

Grants Unpaid Grants from previous years Grants awarded during the year Grants withdrawn during the year Grant payments made during the year Grants remaining unpaid at 31 March 2022*	2021/22 2020/21 60,941 39,900 34,800 45,768 -354 -327
	£95,387 £85,341 46,919 24,400
	£48,468 £60,941

*Owing to the effects of the pandemic extensions have been granted to a number of older grantees to enable projects to be completed.

3.

£1,505,197	£1,270,172	£1,270,172
85,271	£235,025
£1,590,468	£1,505,197
		% of Portfolio 6.33 14.39 9.07 6.60 12.73 7.18 9.49 7.59 8.34 2.92 10.66
		95.30% 4.70
		100.00%

4. Investment Income

Investment income £61,314 (£54,285 – 2020/21) is analysed as follows:

COIF Fixed Income Interest Treasury Stocks Dividend Income TOTAL	2021/22 2020/21 2,880 3,552 26 50 2,550 2,550 55,858 48,133
	£61,314 £54,285

5. Debtors

XD Dividends Quilter trading balances Sundry Debtors TOTAL	2021/22 2020/21 720 0 3,128 5,125 350 350
	£4,198 £5,475