The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019)".
The charity's objects, as laid down in its Memorandum and Articles of Association, are to educate the public at large concerning the history and rural life in England during the seventeenth century in general and during the period of the English Civil War in particular, in their military, historical, religious, cultural and social aspects; and to promote the preservation and interpretation of the site of the Battle of Naseby which took place on 14th June 1645, and sites relating to the military manoeuvres preceding and subsequent to the same, and to preserve the archaeological features and ecology of the sites as an educational resource.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
1. Tours and events
NBP continued to develop and expand its battlefield tours. Within this financial year a total of 23 tours, events and visits were conducted, which involved visiting primary schools and Scouts and Cadets in Northamptonshire involving 120 children and 20 veterans from the Veterans Community Network.
The NBP continues to expand its education programmes for schools, military personnel and other local organisations such as the scouts and the Army Cadet Force.
2. Viewing platform improvements
Investment continued within this financial year to upgrade its viewing platforms at its battlefield sites with the completion of the repairs and refurbishment to the Fairfax and Rupert viewpoints to continue its objective of ensuring they are safe and provide a better viewing perspective.
3. New initiatives
The Memorandum and Articles of Association of The Naseby Battlefield Project provides the power for the Board of Trustees to set up SiG’s (Special interest Groups) to achieve the objectives of the charity. Six SiG’s have been established as follows:
Audience, Battlefield, Marketing & PR, Education & Content, Tours & Events and Finance & Governance.
The commissioning of a London Advertising Agency, who donated their work to the charity, to write our new narrative and make us famous resulted in a successful launch of our new website. This has enabled the NBP to enhance its effectiveness in communicating the battle and why it matters to our heritage, through more extensive content and podcasts. Visitors to this site can also book tours subscribe to mailing list to be notified of new programmes and make donations and volunteer.
4. Educational and youth organisation initiatives
The NBP continues to develop its educational offering for primary schools to A-level history departments. The NBP has become a member of the Civil War Educators Network. for and promotional material through its tour maps, promotional leaflets and posters.
NBP conducted two on site talks and demonstrations to the Northamptonshire Scouts and Cubs. We have also conducted a special tour for the Northamptonshire Cadets.
Total income during the year was £10,780 (2023 - £10,701 all of which was unrestricted. Total expenditure amounted to £18,026 (2023- £13,204) all of which related to unrestricted funds (2023 - restricted expenditure £4,660). At the end of the year the charity held unrestricted funds of £9,939 (2023 - £17,185) and restricted funds of £9,091 (2023 - £9,091). Total funds were therefore £19,030 (2023 - £26,276).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months of operating expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
At 31st March 2024 the unrestricted funds exceeded the target range.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a company limited by guarantee with no share capital and is governed by it's Memorandum and Articles of Association dated 18th August 2006. In the event of winding up, the members of the charity guarantee to contribute up to £10 towards the cost of dissolution and liabilities incurred whilst they were members.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The charity must have a minimum of three and a maximum of twenty trustees at any one time, all of whom must be members of the Naseby Battlefield Project.
One third (or the nearest one third) of the trustees must retire at each AGM, those longest in office retiring first and the choice between any of equal service being made by drawing lots or asking for volunteers. There is no restriction on the number of terms a trustee may serve for, nor on the period that each trustee may act as an officer of the charity (Chairman or Deputy Chairman).
Members are invited annually to put themselves forward for appointment to the Board at the Annual General Meeting of the charity and where there are more candidates than places available, an election is held.
On appointment to the Board, all new trustees are briefed by the Chairman who provides them with information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. The briefing is tailored to their particular experience and knowledge of the project. All trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
The Board normally meets at least six times a year and has co-opted help in educational and financial management issues. The charity has no paid employees but the Company Secretary, who is self employed, provides bookkeeping and secretarial services under a contract of services.
This Report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006 and was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Naseby Battlefield Project (the charity) for the year ended 31 March 2024.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I 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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Naseby Battlefield Project is a private company limited by guarantee incorporated in England and Wales. The registered office is 167 London Road, Leicester, LE2 1EG.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is included in the financial statements on an accruals basis, inclusive of any VAT which cannot be recovered.
The costs of raising funds comprise those costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Direct expenditure
Repairs and maintenance
Legal, professional and consultancy
Independent examination
Insurance
Office expenses
General expenses
None of the trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the charity during the year.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Learning Links - funds provided for e-learning projects, specifically audio guides to the Naseby Battlefield for school children and for blind and partially sighted users.
Arts & Heritage Meeting Point Fund - a commissioned artist, who created a piece of work which will assist in promoting the Naseby Battle through words and songs at schools and other various venues.
Harborough District Council - a secured grant to support the creation of 6 new information panels at specific Naseby Battlefield sites and the printing of new information leaflets.
Heritage Compass - funds provided for Trustee training and consultancy in marketing and revenue generation.
The above transfers relate to settlement with the artists as a result of the Panegyric Performance and delivery of trustee training and consultancy.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The charity is committed under the terms of two leases over land on which two viewing platforms have been built forming part of the Battlefield Trail. The leases each provide for a peppercorn rent (if demanded) and require, amongst other things, that the charity should repair, maintain and keep clean and tidy the sites. The inception and terms of the leases are as follows:
Sir Thomas Fairfax Viewpoint: inception 20 April 2007; term 99 years;
Prince Rupert's Viewpoint: inception 17 July 2007; term 30 years.
During the year the charity entered into the following transactions with related parties:
During the year, total donations and other income received from various trustees amounted to the sum of £222 (2023 - £393).