**Company Registration Number: NI650654 Charity Number: 107335** 

## **MHS HERITAGE & CULTURE LTD** 

**(A company limited by guarantee, not having a share capital)** 

## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

**CLAREMOUNT CHARTERED ACCOUNTANTS 2 MARTINS TERRACE MAGHERA CO DERRY BT46 5BT** 



## **MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) CONTENTS** 

||**Page**|
|---|---|
|Trustees' and Other Information|3|
|Trustees' Annual Report|4 - 6|
|Statement of Trustees' Responsibilities|7|
|Independent Examiner's Report|8-9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 - 16|





**MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) TRUSTEES' AND OTHER INFORMATION** 

## **TRUSTEES** 

> **TRUSTEES** Mr George Murphy Mr Peter Howard 

> **CHARITY NUMBER IN NORTHERN IRELAND** 107335 

> **COMPANY REGISTRATION NUMBER** NI650654 

> **REGISTERED OFFICE AND PRINCIPAL ADDRESS** 11 Main Street Maghera Co Derry BT46 5AA 

## **INDEPENDENT EXAMINER** 

Claremount Chartered Accountants 2 Martins Terrace Maghera Co Derry BT46 5BT 



**MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

The trustees present their Trustees' Annual Report, combining the Directors' Report and Trustees' Report, and the unaudited financial statements for the financial year ended 31 March 2025. 

The financial statements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. 

In this report the trustees of MHS Heritage & Culture Ltd present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2025. 

The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. 

## **MISSION, OBJECTIVES AND STRATEGY** 

## **MISSION STATEMENT** 

The charity was established under the regulation of the Charity Commission for Northern Ireland as a company limited by guarantee. The charity is managed by a board of governors. This reporting period focused on maintaining stability following the appointment of the current board in March 2024. 

The Trustees are committed to a model of community-led governance, ensuring that MHS Heritage & Culture Ltd remains a transparent and central pillar of community life. The Board have prioritised organisational renewal, preparing the groundwork for the 2025 AGM ‘reset’ by strengthening governance records and ensuring, at all times, our leadership reflects the diverse voices of our community. 

## **OBJECTIVES** 

Our core mission is the preservation and promotion of the unique local heritage of the town of Maghera and its rural hinterland. In all our activities, we are guided by the principles of ethical remembrance: ensuring that our historical exploration is inclusive, acknowledges a plurality of perspectives, and is conducted with sensitivity and respect. 

The Trustees confirm that they have complied with their duty regarding the Charity Commission for Northern Ireland’s guidance on public benefit. 

We maintain a proactive commitment to Section 75 of the Northern Ireland Act 1998. By providing a safe space for shared history, we aim to build mutual understanding across all backgrounds, ensuring our heritage work serves as a bridge rather than a barrier. 

Throughout 2024 and early 2025, MHS Heritage & Culture Ltd has operated our Maghera Heritage Centre as a vibrant community hub, hosting events designed to foster social connection through the lens of our common history and shared heritage. We continued our focus on rural history, documenting the transition from horse to tractor. This project emphasises the shared labour and common farming traditions in our mid-20th Century landscape. 

Our “Share Your Story” has actively gathered memories from residents in our community. We approach these narratives with an ethical framework, ensuring that every voice, regardless of background, is preserved with dignity as part of our collective local identity. 

Over the course of this year, we maintained a high level of educational delivery, providing a platform for 



## **MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

local expertise that encourages critical thinking and a deeper understanding of our complex shared past. 

Craft Club became a regular fixture and remains a critical success, tackling rural isolation and loneliness. By sharing traditional skills, we create a “common ground” where conversation and creativity help weave a stronger, more inclusive social fabric. 

We have initiated discussions to ensure our programming meets the needs of all residents, including preliminary steps towards formalising support for the visually impaired to ensure our heritage and wider programme offering is accessible to everyone. 

As a strategic anchor on Main Street, our events have driven footfall to Maghera. We view economic renewal as a vital component of community well-being, while supporting Maghera Regeneration Plan. We are proud to play our part in all this positive capital and social investment. 

All activities listed above have been carried out during the year by our directors, members and volunteers in a professional, courteous and efficient manner. MHS Heritage & Culture Ltd has, all this while, undergone a period of deep transition and renewal, with an energised board now in place, and with a focus on improving our local heritage offering, as well as other related activities based on genuine community need, as a driver for much needed economic and social progress in our local area. We are very much pleased to report that we have grown our volunteer and membership base, and this has positively impacted our capacity to deliver our community offering going forward. 

## **STRATEGY** 

Our financial position is very clearly documented in our end of year report carried out by Claremount Accountants. Our sincere thanks are extended to our funders who supported us throughout the year including the Bailey Thomas Grant and the Community Flex Grant. 

We take this opportunity to express our thanks to all our donors, our membership and volunteers, whose unwavering support helps build the success of our charity. 

Looking ahead to the next financial year, our strategy includes executing a ‘reset mandate’ with a greater emphasis on inclusive governance.  We especially wish to expand our library and archive, as a premier local research facility, dedicated to accessible history. 

We are also tasked to now start developing an exciting and locally relevant programme of events to remember Maghera native and American founder, Charles Thomson, as part of upcoming USA250 events. 

## **FINANCIAL REVIEW** 

The results for the financial year are set out on page 10 and additional notes are provided showing income and expenditure in greater detail. 

## **FINANCIAL RESULTS** 

At the end of the financial year the charity has assets of £242,691 (2024 - £249,485) and liabilities of £47,231 (2024 - £46,185). The net assets of the charity have decreased by £(7,840). 

## **TRUSTEES** 

The trustees who served throughout the financial year, except as noted, were as follows: 

Mr George Murphy Mr Peter Howard 

In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election. 

## **COMPLIANCE WITH SECTOR-WIDE LEGISLATION AND STANDARDS** 

- The charity engages pro-actively with legislation, standards and codes which are developed for the sector. MHS Heritage & Culture Ltd subscribes to and is compliant with the following: ● The Companies Act 2006 

- The Charities SORP (FRS 102) 



## **MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

**APPROVED BY THE BOARD OF TRUSTEES ON 30 MARCH 2026 AND SIGNED ON ITS BEHALF BY:** 

**MR GEORGE MURPHY DIRECTOR** 

**MR PETER HOWARD DIRECTOR** 



**MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

The trustees, who are also directors of MHS Heritage & Culture Ltd for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. 

Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. 

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

- select suitable accounting policies and apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees confirm that they have complied with the above requirements in preparing the financial statements. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **APPROVED BY THE BOARD OF TRUSTEES ON 30 MARCH 2026 AND SIGNED ON ITS BEHALF BY:** 

**MR GEORGE MURPHY DIRECTOR** 

**MR PETER HOWARD DIRECTOR** 



## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF MHS HERITAGE & CULTURE LTD** 

We have examined the financial statements of the charity for the financial year ended 31 March 2025, which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes. 

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or for this report. 

## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** 

The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. 

It is our responsibility to: 

- examine the financial statements under section 65 of the Charities Act; 

- follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and 

- state whether particular matters have come to our attention. 

## **BASIS OF INDEPENDENT EXAMINER'S REPORT** 

We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. 



## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital)** 

In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect: 

- accounting records were not kept in accordance with section 386 of the Companies Act 2006 

- the financial statements do not accord with those accounting records 

- the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 (FRS102) 

- there is further information needed for a proper understanding of the accounts to be reached. 

## **INDEPENDENT EXAMINER'S STATEMENT** 

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

## **KAROL MCCAULEY** 

## **CLAREMOUNT CHARTERED ACCOUNTANTS** 

2 Martins Terrace Maghera Co Derry BT46 5BT 

**DATE: 30 MARCH 2026** 



## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

|||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|Funds|Funds|Funds|
|||**2025**|**2025**|**2025**|2024|2024|2024|
||**Notes**|**£**|**£**|**£**|£|£|£|
|**INCOME**||||||||
|Donations and legacies|**3.1**|**3,717**|**7,000**|**10,717**|10,452|34,795|45,247|
|Other income|**3.2**|**6,618**|**-**|**6,618**|-|-|-|
|||───────|───────|───────|───────|───────|───────|
|**TOTAL INCOME**||**10,335**|**7,000**|**17,335**|10,452|34,795|45,247|
|||───────|───────|───────|───────|───────|───────|
|**EXPENDITURE**||||||||
|Charitable activities|**4.1**|**-**|**5,987**|**5,987**|-|19,815|19,815|
|Other expenditure|**4.2**|**-**|**19,188**|**19,188**|-|29,928|29,928|
|||───────|───────|───────|───────|───────|───────|
|**TOTAL EXPENDITURE**||**-**|**25,175**|**25,175**|-|49,743|49,743|
|||───────|───────|───────|───────|───────|───────|
|**NET**||**10,335**|**(18,175)**|**(7,840)**|10,452|(14,948)|(4,496)|
|**INCOME/(EXPENDITURE)**||||||||
|Transfers between funds||**(20,852)**|**20,852**|**-**|(7,061)|7,061|-|
|||───────|───────|───────|───────|───────|───────|
|**NET MOVEMENT IN**||**(10,517)**|**2,677**|**(7,840)**|3,391|(7,887)|(4,496)|
|**FUNDS FOR THE**||||||||
|**FINANCIAL YEAR**||||||||
|**RECONCILIATION OF FUNDS:**||||||||
|Total funds beginning of|**11**|**18,266**|**185,034**|**203,300**|14,875|192,921|207,796|
|the year||||||||
|||───────|───────|───────|───────|───────|───────|
|**TOTAL FUNDS AT THE**||**7,749**|**187,711**|**195,460**|18,266|185,034|203,300|
|**END OF THE YEAR**||||||||
|||═══════|═══════|═══════|═══════|═══════|═══════|



The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. 



## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) Company Number: NI650654 BALANCE SHEET AS AT 31 MARCH 2025** 

|||**2025**|2024|
|---|---|---|---|
||**Notes**|**£**|£|
|**FIXED ASSETS**||||
|Tangible assets|**8**|**227,735**|236,792|
|||───────|───────|
|**CURRENT ASSETS**||||
|Cash at bank and in hand||**14,956**|12,693|
|||───────|───────|
|**CREDITORS: AMOUNTS FALLING DUE WITHIN**|**9**|**(8,574)**|(6,273)|
|**ONE YEAR**||||
|||───────|───────|
|**NET CURRENT ASSETS**||**6,382**|6,420|
|||───────|───────|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**234,117**|243,212|
|**CREDITORS**||||
|Amounts falling due after more than one year|**10**|**(38,657)**|(39,912)|
|||───────|───────|
|**TOTAL NET ASSETS**||**195,460**|203,300|
|||═══════|═══════|
|**FUNDS**||||
|Restricted funds||**187,711**|185,034|
|General fund (unrestricted)||**7,749**|18,266|
|||───────|───────|
|**TOTAL FUNDS**|**11**|**195,460**|203,300|
|||═══════|═══════|



These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. 

For the financial year ended 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476. 

The trustees confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity. 

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", applying Section 1A of that Standard. 

## **APPROVED BY THE BOARD OF TRUSTEES AND AUTHORISED FOR ISSUE ON 30 MARCH 2026 AND SIGNED ON ITS BEHALF BY** 

**MR GEORGE MURPHY DIRECTOR** 

**MR PETER HOWARD DIRECTOR** 



**MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

## **1. GENERAL INFORMATION** 

MHS Heritage & Culture Ltd is a company limited by guarantee incorporated in Northern Ireland. The registered office of the charity is 11 Main Street, Maghera, Co Derry, BT46 5AA which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. 

## **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. 

## **BASIS OF PREPARATION** 

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. 

As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. 

## **STATEMENT OF COMPLIANCE** 

The financial statements of the charity for the financial year ended 31 March 2025 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. 

## **FUND ACCOUNTING** 

The following are the categories of funds maintained: 

## **RESTRICTED FUNDS** 

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. 

## **UNRESTRICTED FUNDS** 

Unrestricted funds consist of General and Designated funds. 

● General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. 

● Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. 

## **INCOME** 

Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. 

## **INCOME FROM CHARITABLE ACTIVITIES** 

Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is 



continued 

## **MHS HERITAGE & CULTURE LTD (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. 

Grants from governments and other co-funders typically include one of the following types of conditions: 

● Performance based conditions: whereby the charity is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. 

●Time based conditions: whereby the charity is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement. 

Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier. 

## **EXPENDITURE** 

Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity. 

## **TANGIBLE FIXED ASSETS AND DEPRECIATION** 

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows: 

|Long leasehold property|2% Straight line|
|---|---|
|Plant and machinery|15% Straight line|
|Fixtures, fittings and equipment|15% Straight line|
|Motor vehicles|25% Straight line|



## **CASH AT BANK AND IN HAND** 

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. 

|**3.**|**INCOME**|||||
|---|---|---|---|---|---|
|**3.1**|**DONATIONS AND LEGACIES**|**Unrestricted**|**Restricted**|**2025**|2024|
|||**Funds**|**Funds**|||
|||**£**|**£**|**£**|£|
||Donations and Membership fees|**1,818**|**-**|**1,818**|2,959|
||Retail sales|**1,900**|**-**|**1,900**|7,493|
||Princes Trust|**-**|**-**|**-**|1,250|
||DAERA|**-**|**-**|**-**|1,485|
||National Lottery Heritage Fund|**-**|**-**|**-**|32,060|
||Bailey Thomas Grant|**-**|**3,000**|**3,000**|-|
||Community Flex Grant|**-**|**4,000**|**4,000**|-|
|||───────|───────|───────|───────|
|||**3,717**|**7,000**|**10,717**|45,247|
|||═══════|═══════|═══════|═══════|





continued 

## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

|**3.2**|**OTHER INCOME**||**Unrestricted**|**Restricted**|**2025**|2024|
|---|---|---|---|---|---|---|
||||**Funds**|**Funds**|||
||||**£**|**£**|**£**|£|
||NFU Mutual||**6,618**|**-**|**6,618**|-|
||||═══════|═══════|═══════|═══════|
|**4.**|**EXPENDITURE**||||||
|**4.1**|**CHARITABLE ACTIVITIES**|**Direct**|**Other**|**Support**|**2025**|2024|
|||**Costs**|**Costs**|**Costs**|||
|||**£**|**£**|**£**|**£**|£|
||Expenditure on charitable|**-**|**-**|**()**|**()**|-|
||activites||||||
||Staff Expenses|**3,928**|**-**|**-**|**3,928**|12,274|
||Advertising & Promotion|**300**|**-**|**-**|**300**|388|
||Project Costs|**1,759**|**-**|**-**|**1,759**|7,153|
|||───────|───────|───────|───────|───────|
|||**5,987**|**-**|**-**|**5,987**|19,815|
|||═══════|═══════|═══════|═══════|═══════|
|**4.2**|**OTHER EXPENDITURE**|**Direct**|**Other**|**Support**|**2025**|2024|
|||**Costs**|**Costs**|**Costs**|||
|||**£**|**£**|**£**|**£**|£|
||Other expenditure|**-**|**-**|**19,188**|**19,188**|29,928|
|||═══════|═══════|═══════|═══════|═══════|
|**4.3**|**SUPPORT COSTS**|||**Other**|**2025**|2024|
|||||**Expenditure**|||
|||||**£**|**£**|£|
||Accountancy|||**1,800**|**1,800**|2,160|
||Professional|||**-**|**-**|1,050|
||Interest Charge|||**3,426**|**3,426**|3,275|
||Telephone & Internet|||**2,502**|**2,502**|2,504|
||Sundry|||**120**|**120**|1,157|
||Insurance|||**935**|**935**|2,233|
||Heat & Light|||**1,798**|**1,798**|3,355|
||Cleaning & Consumables|||**-**|**-**|940|
||Depreciation|||**7,277**|**7,277**|7,892|
||IT & Software|||**293**|**293**|293|
||Water rates|||**326**|**326**|-|
||Office & Computer costs|||**995**|**995**|441|
||Travel|||**-**|**-**|910|
||Profit/Loss on disposal|||**(819)**|**(819)**|-|
||Repairs & Maintenance|||**472**|**472**|3,618|
||Bank charges|||**65**|**65**|100|
|||||───────|───────|───────|
|||||**19,188**|**19,188**|29,928|
|||||═══════|═══════|═══════|
|**5.**|**NET INCOME**||||**2025**|2024|
||||||**£**|£|
||**NET INCOME IS STATED AFTER**|**CHARGING/(CREDITING):**|||||
||Depreciation of tangible assets||||**7,276**|7,892|
||||||═══════|═══════|





continued 

## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

|**6.**|**INTEREST PAYABLE AND SIMILAR**|**CHARGES**|||**2025**|2024|
|---|---|---|---|---|---|---|
||||||**£**|£|
||On bank loans and overdrafts||||**3,426**|3,275|
||||||═══════|═══════|
|**7.**|**EMPLOYEES AND REMUNERATION**||||||
||The staff costs comprise:||||**2025**|2024|
||||||**£**|£|
||Wages and salaries||||**3,928**|12,274|
||||||═══════|═══════|
|**8.**|**TANGIBLE FIXED ASSETS**||||||
|||**Long**|**Plant and**|**Fixtures,**|**Motor**|**Total**|
|||**leasehold**|**machinery**|**fittings and**|**vehicles**||
|||**property**||**equipment**|||
|||**£**|**£**|**£**|**£**|**£**|
||**COST**||||||
||At 1 April 2024|235,391|19,482|15,858|2,900|273,631|
||Disposals|-|-|-|(2,900)|(2,900)|
||───────||───────|───────|───────|───────|
||At 31 March 2025|235,391|19,482|15,858|-|270,731|
||───────||───────|───────|───────|───────|
||**DEPRECIATION**||||||
||At 1 April 2024|20,200|10,499|5,021|1,119|36,839|
||Charge for the financial year|4,304|1,347|1,625|-|7,276|
||On disposals|-|-|-|(1,119)|(1,119)|
||───────||───────|───────|───────|───────|
||At 31 March 2025|24,504|11,846|6,646|-|42,996|
||───────||───────|───────|───────|───────|
||**NET BOOK VALUE**||||||
||At 31 March 2025|**210,887**|**7,636**|**9,212**|**-**|**227,735**|
||═══════||═══════|═══════|═══════|═══════|
||At 31 March 2024|215,191|8,983|10,837|1,781|236,792|
||═══════||═══════|═══════|═══════|═══════|
|**9.**|**CREDITORS**||||**2025**|2024|
||**AMOUNTS FALLING DUE WITHIN ONE YEAR**||||**£**|£|
||Bank overdrafts||||**1,364**|1,363|
||Trade creditors||||**4,800**|2,500|
||Taxation and social security costs||||**1,410**|1,410|
||Accruals and deferred income||||**1,000**|1,000|
||||||───────|───────|
||||||**8,574**|6,273|
||||||═══════|═══════|
|**10.**|**CREDITORS**||||**2025**|2024|
||**AMOUNTS FALLING DUE AFTER MORE THAN**||**ONE YEAR**||**£**|£|
||Bank loan||||**38,657**|39,912|
||||||═══════|═══════|
||Repayable in one year or less, or on demand||(Note 9)||**1,364**|1,363|
||Repayable between one and two years||||**38,657**|39,912|
||||||───────|───────|
||||||**40,021**|41,275|
||||||═══════|═══════|





continued 

## **MHS HERITAGE & CULTURE LTD** 

## **(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025** 

|**11.**|**FUNDS**|||||||
|---|---|---|---|---|---|---|---|
|**11.1**|**RECONCILIATION OF MOVEMENT IN FUNDS**||||**Unrestricted**|**Restricted**|**Total**|
||||||**Funds**|**Funds**|**Funds**|
||||||**£**|**£**|£|
||At 1 April 2023||||14,875|192,921|207,796|
||Movement during the financial|year|||3,391|(7,887)|(4,496)|
||||||───────|───────|───────|
||At 31 March 2024||||18,266|185,034|203,300|
||Movement during the financial|year|||(10,517)|2,677|(7,840)|
||||||───────|───────|───────|
||At 31 March 2025||||**7,749**|**187,711**|**195,460**|
||||||═══════|═══════|═══════|
|**11.2**|**ANALYSIS OF MOVEMENTS ON FUNDS**|||||||
|||**Balance**||**Income **|**Expenditure**|**Transfers**|**Balance**|
|||**1**|**April**|||**between**|**31 March**|
||||**2024**|||**funds**|**2025**|
||||**£**|**£**|**£**|**£**|**£**|
||**RESTRICTED FUNDS**|||||||
||Restricted|185,034||7,000|25,175|20,852|187,711|
||**UNRESTRICTED FUNDS**|||||||
||Unrestricted|18,266||10,335|-|(20,852)|7,749|
|||───────||───────|───────|───────|───────|
||**TOTAL FUNDS**|**203,300**||**17,335**|**25,175**|**-**|**195,460**|
|||═══════||═══════|═══════|═══════|═══════|



## **12. STATUS** 

The charity is a company limited by guarantee not having a share capital. 

The liability of the members is limited. 

Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1. 

## **13. POST-BALANCE SHEET EVENTS** 

There have been no significant events affecting the Charity since the financial year-end.