ESSEX HERITAGE TRUST THE TRUSTEES ANNUAL REPORT AND ACCOUNTS In compIiance with Clwities Acts Financial Year l April 2024 - 31 March 2025 Trustees J Douglas-Hughes, OBE DL, Esq (Chairnian) Rt Hon Lord Petre, KCVO JP MA His Majesty's Lord-Lieutenant of Essex Mrs Jennifer Tolhurst B J Moody Esq (Managing Tntee) P J Mamelok, DL FCA, Esq (Hon. Treasurer) R H Wollast0 Esq M F Pertwee, Esq Dr J Bettley, JP DL FSA Mrs K Twitchen, OBE T J Gregson, FRICS FFBE MEWI, Esq The current Chairnwi of Essex County CouncAI Administrator Mrs Sharon Hill Trust Adthess Cressing Temple, Braintree, Essex. CM77 8PD Barclays BanK 4041 High StreeL Chelmsford, Essex RBC Brewin Dolphin (trading name of RBC Europe Ltd) 12 Smithfield StreeL London, ECIA 9LA Bankers Investment Man ers Charity Registration No. 802317
l. Ob'ectives The Trust h&s been established to safeguard or preserve for the benefit of the public, such lands, buildings, objects or records as may be lllustrative of, or significant to, the history of the county or which enhance an understsnding of the characteristics and traditions of the county. 2. Constitution The charity is an independent organisation constituted and governed by a Trust Ded 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 Tnt does not have any direct relationship with any other charity or organisation. 3. Administration Trustees meet three times a year to consider grant application& review the Tn's fmancial position and investment strategies, and deal with any other fonnal 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 Trust Management Conunittee, supported by Mrs S Hill, who provides services as a Consultant. Applications for grants are submitted, and these are considered at the Trustees, meetings. reviewing applications the Trustees consider the heritage naturc of the projects, and attach importance to evidence of self-help and fund raising efforts in considering whether to award a granL 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 investments of the Trust have for many years been overseen by Quilter Cheviot, who have provided advice to the Trustees, and managed a small number of funds with the aim of m&ximising income generation to meet the Trust's grant giving objectives. In keeping with the Trustees, responsibility to review regularly these arrangements, the opportunity was taken to invite two investment management advisors to provide the Trust's Management Committee with proposals for the management of the T'S investments. After careful Consideratio Brewin Dolphi a subsidiary company of Royal Bank of Canad4 was chosen to oversee the Trust's investments. The management objectives will be a 'Yotal return basis" to maximise both income and capital appreciation. To meet these objectives, the Trusts, investments now comprise direct quity inv¢stments. as well as investment in a number of funds. The Trustees carry out a review of risks that the Trust faces on a regular basis.
- Friends of Essex Herits e Trust The Friends of Essex Heritage Trust was launched in 1993 and the TneS continue to be keen to recruit more members. Our newsletter has played a vitsl part in promoting the role of the Trust and encouraging enquiries. Going forward the newsletter will be distributed digitally, and will be sent to all of our Friends, as well as being distribut widely to parish councils and similar bodies who might seek to apply for
- Accountin Matters The Hon Treasurer, Mr P J Mamelok DL, who is a Chartered Accountant, has prepared the financial ststements in conjunction with Mrs Hill. The financial statements have been prepared to comply with current statutory requirements and the requirements of the Tnjst Deed. The independent examination of the financial statements has been varried 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.
- Grants During the financial year, 25 applications for grants were receive and 18 were awarded a grant totalling £60,434. At the end of the financial year, grants awarded in this and previous years but remaining unpaid at 31 March 2025, amounted to £50,895 as set out in note 2 on page 9.
- Trust Fund At the start of the fmancial year th¢ value of the Trust Fund stood at £1,606,723. By the end of the financial year the valu¢ of the Trust Fund was £1,711,724. Mr J Douglas HughÉs OBE DL, Chairn)an of Trustees Date: 6 November 2025
GRANTS AWARDED Location Project Grant Harwich Museum St John thc Evangelist Church, Chelmsford Bradwell-on-sea Victoria County History of Essex Trust The Battlefields Tn Borley Church Ongar & District Community Association Woo(Iham Walter Women's Club All Saints ChurclL Stisted St Mary with St Leonard's Church, Broomfield Tillingham Village Council Restoration of Mayoral Portraits Heritage Inforniation Board £ 5,000 £ 3,000 Restordtion of Village Cage (Village Lock-up) Research worL Grant PTomise for three years (3 of 3 paid) Research work South Tower Gargoyle rainwater chutes Budworth Hall improvements £ 5.000 £ 5,000 £ 3,000 £ 3,500 £ 5,000 Improvements £ 2,000 Bell restordtion Restoration of Lychgate (top up grant) £ 6,000 £ 2,000 Pump restoration £600 St Mary's Church, Woodham Ferrers Conservation to Coat of Arn £ 4,500 Essex Heritage Workboats cic St John & St Giles Church, Great E&ston Clavering Landscape History Group Research work £ 1,300 Bell restoration £ 6,000 ExVatiOn works at Clavering Castle and to estsblish the origins of the Castle and it's phased development Digitisation of documents & photographs £ 3,300 Friends of Bridge End Gardens, Saffton Wa]den Purfleet Heritage & Military Centre Pioneer Sailing Trust £234 WW2 Gunpowder Digital Map £ 2,000 'Pioneer' new Staysail £ 3,000 TOTAL GRANTS AWARDED £60434
Essex Heritage Trust Statement of Trustees Responsibilities The charity's trustees are responsible for prepaTing the Annual Rewrt and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. In preparing those financial statements, the ttiths are Tequired to: a) select suitable accounting policies and apply them consistently. b) make judgments and estimates that are reasonable and pnent. c) prepare the fujancial 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 re&8onable accuracy at any time the financial position of the clwity and enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statemcnts 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. ort of the Inde endent Examiner In my examination of the books and records of the Essex Heritage Trust for the year ended 3 1st March 2025, 1 havc, when conducting my review, recognised the TnLStees financial and legal responsibilities as set out in the above statement to this Annual Rewrt and Accounts. My examination confums 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 staternents give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of the clwity's affairs at 31 st March 2025, and of its incoming resources and application of resources for the year then ended. MrPJBentley FCA .................................... Date 6 November2025
Essex Heritage Trust Statement of Financial Activities for the year ended 31 March 2025 2024125 2023124 Incoming Resources: Investsnent Income (note 4) Gift Aid Donations and Frien(ts Subscriptions (gross) Donations Total incoming resources 83.388 2,461 323 £86,172 69,510 2,354 450 £72J14 Less: Resources Expended Grants approved and paid Grants approved-not yet paid 23,300 37.134 60,434 6,500 18,750 57,120 75,870 12,200 £63,670 Deduct Grants withdrawn Total grants payable Administration costs of the charity: Annual Meeting Insurance Licence (rent) Ststionery & Postage Telecoms and Website Administrator payment Sundry Investment Management Charge Total administration costs 484 462 1,400 487 889 320 451 1,400 381 574 5,340 37 9,038 £17 541 30 9,758 £20 10 Total expenditure £74 £81211 Net SurpluslDefieit for the year Realised Losses and Gains on Investments Increase in Market Value on Investments Net n)ovement in funds Balance brought forward l April 2024 Balance carried forward 31 March 2025 11,928 44J20 86,499 62,185 £54,107 £53,288 1606,723 £1553 435 £1660,830 £1,606,723 -8,897
Balance Sbeet Year Ended 31 March 2025 315¢ March 2025 31" March 2024 Fixed Assets: Investments at Valuation (note 3) £1,666270 £1,579,771 Current Assets: Income Tax Recoverable C,ash at Bank Debtors and Prepayments (note 5) Charities Deposit Fund Pety Cash Total current assets 222 11,075 13,446 20,688 24 £45,455 182 27,607 2,624 65,332 38 £95 783 Current Liabilities: Grants approved but unpaid Total current liabilities Net current liabilitieslassets 50,895 £50,895 68,831 £68,831 45,440 £1.660.830 £26,952 £1,606 723 Total Represented by Trust Fund: At l April 2024 Net movement in funds for the yeydr At 31 March 2025 £1,606,723 54,107 £1,660,830 £1,553,435 £53 288 £1,606,723 The financial statements were approved by the Trustees on MrP J Mamelok DL FCA Hon. Treasurer
Notes to the Financial Statements 31 Mareh 2025 Aecounting Policies: Accounting Convention The financial ststements are prepared under the historical cost Conventio as modified by the annual revaluation of listed investments to market value, and in accordance with applicabl¢ accounting stthdards and Statement of Recommended Practice. Donations All donations, other than specific donations for fundrnising Purposes are credited to the Tllt 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 Grants 2024r25 2023124 Unpaid Grants from previous years Grants awarded during the year Grants withdrawn during the year 68,831 60.434 -6.500 £122,765 71.870 £50,895 58J77 75.870 -12,200 £122,047 Grant payments made during the year Grants remaining unpaid at 31 March 2025 £68 831 Investments 2024125 2023ll4 Investments held at market value: l April 2024 79 771 £1 Net Increas¢ in market value during year 86,499 Investments held at market value 31 Mareb 2025 £1666 270 £1579 771 £1 Investment Income 2024125 2023124 COIF Fixed Income Dividend and Interest Incom¢ TOTAL 2,356 3,029 66,481 £69 510 £83 88 Debtors 2024125 2023124 XD Dividends Brewin Dolphin trnding balances Rent prepayment TOTAL 3,740 9,356 350 £13,446 616 2,008 £2,624