Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-31456549268626143947954395943011476958439479544565492false22023-04-01not blank02024-03-31 00783226 2023-04-01 2024-03-31 00783226 2022-04-01 2023-03-31 00783226 2024-03-31 00783226 2023-03-31 00783226 2023-04-01 00783226 2022-04-01 00783226 c:CompanySecretary1 2023-04-01 2024-03-31 00783226 c:RegisteredOffice 2023-04-01 2024-03-31 00783226 d:Buildings 2023-04-01 2024-03-31 00783226 d:Buildings 2024-03-31 00783226 d:Buildings 2023-03-31 00783226 d:CurrentFinancialInstruments 2024-03-31 00783226 d:CurrentFinancialInstruments 2023-03-31 00783226 c:FRS102 2023-04-01 2024-03-31 00783226 c:IndependentExaminationCharity 2023-04-01 2024-03-31 00783226 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00783226 b:Trustee1 2023-04-01 2024-03-31 00783226 b:Trustee2 2023-04-01 2024-03-31 00783226 b:Trustee3 2023-04-01 2024-03-31 00783226 b:Trustee4 2023-04-01 2024-03-31 00783226 b:Trustee5 2023-04-01 2024-03-31 00783226 b:Trustee6 2023-04-01 2024-03-31 00783226 b:Trustee7 2023-04-01 2024-03-31 00783226 b:Trustee8 2023-04-01 2024-03-31 00783226 b:UnrestrictedFundsGeneral 2023-04-01 2024-03-31 00783226 b:UnrestrictedFundsGeneral 2022-04-01 2023-03-31 00783226 b:RestrictedIncomeFunds 2023-04-01 2024-03-31 00783226 b:RestrictedIncomeFunds 2022-04-01 2023-03-31 00783226 b:UnrestrictedFundsGeneral 2024-03-31 00783226 b:UnrestrictedFundsGeneral 2023-03-31 00783226 b:RestrictedIncomeFunds 2024-03-31 00783226 b:RestrictedIncomeFunds 2023-03-31 00783226 1 2024-03-31 00783226 3 2024-03-31 00783226 1 2023-03-31 00783226 3 2023-03-31 00783226 b:Activity1 2023-04-01 2024-03-31 00783226 b:Activity1 2022-04-01 2023-03-31 00783226 b:Activity1 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 00783226 b:TotalUnrestrictedFunds 2024-03-31 00783226 b:TotalUnrestrictedFunds 2023-03-31 00783226 b:TotalRestrictedIncomeFunds 2024-03-31 00783226 b:TotalRestrictedIncomeFunds 2023-03-31 00783226 c:FullAccounts 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 00783226
Charity number: 232686






TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


HERTFORDSHIRE BUILDING PRESERVATION TRUST






































img178e.png                        

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and advisers
1
Trustees' report
2 - 5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8 - 9
Notes to the financial statements
10 - 19

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024


Trustees
D Abel Smith MBE, Chairman
R H Threlfall, Vice Chairman
T M Bell
J M Nicholls
R A C Thake
I K D Tunio
J J English
D C Levett (appointed 18 June 2024)

Company registered number
00783226

Charity registered number
232686

Registered office
The Castle
Hertford
SG14 1HR

Company secretary
R A Jameson

Independent Examiner
Menzies LLP
Chartered Accountants
Richmond House
Walkern Road
Stevenage
Herts
SG1 3QP

Page 1

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the Hertfordshire Building Preservation Trust for the year 1 April 2023 to 31 March 2024The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The objects of the Trust are to preserve buildings of special beauty or special historic or architectural interest in the County of Hertfordshire, and in encouraging others to do so, and when required, giving advice and assistance with the preservation of Listed Buildings.
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Public benefit
 

The Trustees have complied with the duty in section 4 of the Charities Act 2011 and have regard to the public benefit guidance as issued by the Charity Commission as shown in the objectives above.
The Trust seeks to provide cultural, social and educational benefit to the people in the County of Hertfordshire, through:
  -   Preserving buildings of architectural and historic importance
  -   Helping to rescue buildings at risk
  -   Organising conservation seminars, exhibitions and visits
  -   Providing learning and outreach programmes for young people
  -   Managing two heritage museums and a medieval hall.










 
 

Page 2

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
Achievements and performance
 

a. Main achievements of the Company
 

In the year under review the Trust’s programme to maintain and improve the historic buildings in its ownership continued to be hampered by the availability of contractors and materials; slow progress was made to ensure maintenance and repair was kept up to date on these precious buildings and the soaring costs were a major concern.
The Trust's activities fall into several distinct categories, which have enjoyed differing fortunes this year. 
Our main source of income remains our residential and commercial property holdings, comprising interesting historic and listed buildings in the County entrusted to us. Gross rents were £110,838 (down from 2023's £112,922)
The three most fascinating properties in our care we operate as public access heritage destinations; the Much Hadham Forge Museum Grade II*, Much Hadham, the preserved windmill at Cromer Grade II*, near Buntingford, and Place House Hall, Grade I, in Bluecoat Yard off Ware High Street. Income from visitors at the Windmill, the Much Hadham Forge Museum and Place House Hall, this year was £2,437 (2023: £2,711), is an important element in financing these activities, but falls well short of the total costs incurred in maintaining, manning and generally cherishing these venerable edifices. Upkeep of Cromer Windmill will prove costly next year as urgent repairs are needed.
Our heritage planning consultancy, BEAMS Ltd, had a profitable year. Our small team of conservation consultants worked in planning departments of Local Authorities as well as advising private clients and developers on progressing their more heritage-sensitive plans. BEAMS has this year been able to pledge £20k from its trading profits to the Trust's General Fund (2023: £18K). BEAMS recorded billings over the year of £106,248 (2023: £85,504).
Other important contributors to the General Fund should also be mentioned.
The investments of the Miss Mary Aughton Fund again produced a very useful £14,605 of dividend and interest income. Over the year to 31 March 2024 the value of our holdings increased by £42,388 (2023: decreased by -£25,034) which reflects the global investment markets performance. 
The annual subscriptions we continue to receive from corporate, society and individual subscribers are enormously helpful in sustaining our operations by helping offset core costs and serve as a reminder to Directors of the widespread support in the County for the work we do. Individual County councillors are also often ready to help with specific appeals within their remit.
Alongside the General Fund, we maintain a series of Restricted or Special Purpose Funds, enabling us to undertake particular projects of conservation and restoration of our public properties underlining the vibrant life of the Trust inside the community. This year £1,502 (2023: £2,744) was raised in grants and donations for restricted purposes, and £556 was spent (2023: £2,640). Restricted Funds carried forward therefore amount to £5,738 (2023: £4,792). 
 
 

b. Investment policy and performance
 

The Trust's policy for its investment in property is to maximize its gross rents, delegating management to professional property managers, while maintaining its value and historic character through appropriate care and maintenance. The Trust's policy for its portfolio investments is to place them with an experienced investment management house specialising in charitable fund investment, so as to generate a growing income whilst preserving the real value of capital. The Trust's policy for its liquid assets, where they are available for investment, is to place them in highly secure instant access deposit accounts as offered to registered charities by CCLA Investment Management Ltd. 




 
 

Financial review
 

Page 3

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
a. Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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.
 

b. Reserves policy
 

It is the policy of the Trust to maintain sufficient reserves to meet the planned refurbishment costs of its properties (which are properties of historical or architectural interest or of beauty). 
 
 

c. Financial position
 

Incoming resources in the year were £167,432 (2023: £171,333). 
A deficit of was made in the year £65,107 (2023: -£78,748 deficit). At 31 March 2024 total reserves were £1,979,715 (2023: £2,287,538), of which £1,973,976 (2023: £2,282,748) represented general unrestricted funds.
 

Structure, governance and management
 

a. Constitution
 

Hertfordshire Building Preservation Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed.
 

b. Methods of appointment or election of Trustees
 

The method of recruiting new Trustees for the Trust is by way of advertising on the Reach Volunteering Website and appropriate social media.
 

c. Organisational structure and decision-making policies
 

The organisation is a charitable company limited by guarantee, incorporated on 3 December 1963. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Trustees/Directors, who are elected and co-opted under the terms of the Articles of Association, determine the general policy of the company and all major management matters.

 D C Levett was appointed a Director since last year under Article 51 and now stands for re-election. The directors now retiring by rotation in accordance with Article 45 are T M Bell and R A C Thake, who, being eligible, offer themselves for re-election.
 
 

d. Governance and internal control
 

The Trust has set up a committee to advise on property related matters and valuations for accounting purposes. The committee work closely with the Trust's managing agents. The committee was established in house to keep charity costs to a minimum, all members of the committee have knowledge of the properties held by the Trust. 
 
 

Page 4

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial year. 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject 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 Company will continue in business.


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


 

Approved by order of the members of the board of Trustees on 17 September 2024 and signed on their behalf by:
 




D Abel Smith MBE
(Chair of Trustees)
Page 5

 


HERTFORDSHIRE BUILDING PRESERVATION TRUST
 

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INDEPENDENT EXAMINERS' REPORT

Independent examiner's report to the Trustees of Hertfordshire Building Preservation Trust ('the Company')

 
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.


Responsibilities and basis of report


As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.


Independent examiner's statement


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:


1.
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.
the accounts do not accord with those records; or

3.
the accounts 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

4.
the accounts 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 accounts to be reached.


This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.





Signed:      Dated: 21 September 2024

 
J E Fox     

 
Menzies LLP
Richmond House
Walkern Road
Stevenage
SG1 3QP
Page 6

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £
        £

Income from:







Donations and legacies

3

23,378

1,502

24,880

25,234
 
Charitable activities

4

14,736

-

14,736

16,042
 
Investments

5

127,816

-

127,816

130,057
 
Total income
165,930
1,502
167,432
171,333
Expenditure on:







Charitable activities

6

231,983

556

232,539

250,081
 
Total expenditure
231,983
556
232,539
250,081

Net movement in funds before other recognised gains/(losses)

  

(66,053)

946

(65,107)

(78,748)
 

Other recognised gains/(losses):

  





Losses on revaluation of fixed assets

  

(242,716)

-

(242,716)

(25,036)
 
Net movement in funds
  
(308,769)
946
(307,823)
(103,784)

Reconciliation of funds:

  





Total funds brought forward

  

2,282,746

4,792

2,287,538

2,391,322
 
Net movement in funds

  

(308,769)

946

(307,823)

(103,784)
 
Total funds carried forward
  
1,973,977
5,738
1,979,715
2,287,538

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 19 form part of these financial statements.

Page 7

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
REGISTERED NUMBER: 00783226

 
 
BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 9 
1,355,431
1,675,440

Investments
 10 
498,064
555,676

  
1,853,495
2,231,116

Current assets
  

Stocks
 11 
226
151

Debtors
 12 
56,046
35,325

Cash at bank and in hand
  
78,031
31,992

  
134,303
67,468

Creditors: amounts falling due within one year
 13 
(8,083)
(11,046)

Net current assets 
  
 
 
126,220
 
 
56,422

Total assets less current liabilities
  
1,979,715
2,287,538

Net assets excluding pension asset 
  
1,979,715
2,287,538

Total net assets 
  
1,979,715
2,287,538


Charity funds
  

Restricted funds
 14 
5,738
4,792

Unrestricted funds
 14 
1,973,977
2,282,746

Total funds
  
1,979,715
2,287,538

Page 8

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST

 
 
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 17 September 2024 and signed on their behalf by:




D Abel Smith MBE
(Chair of Trustees)

The notes on pages 10 to 19 form part of these financial statements.

Page 9

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Hertfordshire Building Preservation Trust is a private company limited by guarantee, registered in England and Wales, as well as being a chairty registered in the same jurisdiction. The charity's registered numbers and office address can be found within the reference and administrative details on page 1.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Hertfordshire Building Preservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Income

All income is recognised once the Company has entitlement 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 Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income from the forge and windmill is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Income from investments is included in the year in which it is receivable.

  
2.3

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 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 activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Page 10

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Freehold properties are held at Trustees' valuation. The Statement of Recommended Practice issued by the Charity Commisison in England and Wales provides that the Trustees may use a reasonable approach to valuation at least every five years. The Trustees have therefore established a Property Valuation Committee comprising members of the Board with appropriate property or professional experience too consult with the Trust's Property manager and to adivse on the current open market value of the Trust's freehold properties. Once adopted by the full board of Trustees these values are incorported into the accounts.

The Trustees are aware that this policy is not fully compliant with Charities SORP (FRS102) as it involves a valuation that is neither conducted nor reviewed by a qualified external valuer. However the Trustees consider this non compliance to be reasonable and appropriate to the circumstances of the Charity and that it would be an incorrect use of the Charity's limited resources to commission an external valuation report.

Depreciation is charged so 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 basis:

Freehold property
-
2%
on market value

  
2.5

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 be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Investments held as fixed assets are shown at cost less provision for impairment.


2.6

Liabilities and provisions

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 estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect 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 specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
2.7

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 11

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.8

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.


3.

Income from donations and legacies




Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
        £
        £
        £
 



Donations

23,378

-

23,378

Grants

-

1,502

1,502



23,378
1,502
24,880




Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £



Donations

21,990

-

21,990

Grants

500

2,744

3,244



22,490
2,744
25,234


4.

Income from charitable activities




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Income from Forge Museum, Cromer Mill and Place House Hall

14,736

14,736

16,042
 

Page 12

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.

Investment income




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Income from investments

14,605

14,605

16,994
 
Rents received

110,838

110,838

112,922
 
Deposit account interest

2,373

2,373

141
 


127,816
127,816
130,057


6.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2024
Restricted funds
2024
Total
2024
        £
        £
        £




Direct costs

123,866

556

124,422

Depreciation

34,905

-

34,905

Staff costs

73,212

-

73,212



231,983
556
232,539




Unrestricted funds
2023
Restricted funds
2023
Total
2023
        £
        £
        £




Direct costs

141,962

2,640

144,602

Depreciation

34,905

-

34,905

Staff costs

70,574

-

70,574



247,441
2,640
250,081

Page 13

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.

Analysis of expenditure by activities




Activities undertaken directly
2024
Support costs
2024
Total
funds
2024
        £
        £
        £




Direct costs

104,143

20,279

124,422

Depreciation

34,905

-

34,905

Staff costs

73,212

-

73,212



212,260
20,279
232,539





Activities undertaken directly
2023
Support costs
2023
Total
funds
2023
        £
        £
        £




Direct costs

119,519

25,083

144,602

Depreciation

34,905

-

34,905

Staff costs

70,574

-

70,574



224,998
25,083
250,081



8.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).


9.


Tangible fixed assets




Freehold property

£


Cost or valuation

At 1 April 2023
1,745,250

Revaluations
(389,819)


At 31 March 2024

1,355,431
Page 14

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.Tangible fixed assets (continued)



Freehold property


£



At 1 April 2023
69,810

Charge for the year
34,905

On revalued assets
(104,715)


At 31 March 2024

-


Net book value


At 31 March 2024
1,355,431


At 31 March 2023
1,675,440

Land and buildings were valued at 31 March 2024 by a valuation committee of the board, on an open market value basis.






10.


Fixed asset investments





Listed investments
Shares in group undertaking
Total

£
£
£



Cost or valuation





At 1 April 2023
545,776
9,900
555,676


Market Revaluation
42,388
-
42,388


Transfer to Deposit
(100,000)
-
(100,000)



At 31 March 2024

488,164
9,900
498,064




Net book value






At 31 March 2024
488,164
9,900
498,064



At 31 March 2023
545,776
9,900
555,676

Page 15

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.



Stocks


2024
2023
£
£

Finished goods
226
151


12.



Debtors


2024
2023
£
£


Due within one year

Trade debtors
20,834
4,140

Amounts owed by group undertakings
20,071
18,000

Other debtors
3,000
3,000

Prepayments and accrued income
12,141
10,185

56,046
35,325


13.



Creditors: Amounts falling due within one year


2024
2023
£
£


Other taxation and social security
3,385
2,883

Other creditors
1,167
1,832

Accruals and deferred income
3,531
6,331

8,083
11,046

Page 16

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.

Statement of funds


Statement of funds - current year

Balance at 1 April 2023
£
Income
£
Expenditure
£
Gains/
(Losses)
£
Balance at 31 March 2024
£

Unrestricted funds






Mary Aughton

475,000

-

-

-

475,000
 
Reserves

1,807,746

165,930

(231,983)

(242,716)

1,498,977
 



2,282,746
165,930
(231,983)
(242,716)
1,973,977

Restricted funds







Forge museum and Place House Hall

4,792

1,502

(556)

-

5,738
 

Total of funds


2,287,538
167,432
(232,539)
(242,716)
1,979,715

Page 17

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 April 2022
£
Income
£
Expenditure
£
Gains/
(Losses)
£
Balance at
31 March 2023
£

Unrestricted funds






General Funds - all funds

1,911,634

168,587

(247,441)

(25,034)

1,807,746
 
Mary Aughton

475,000

-

-

-

475,000
 



2,386,634
168,587
(247,441)
(25,034)
2,282,746


Restricted funds







Forge museum and Place House Hall

4,688

2,744

(2,640)

-

4,792
 


Total of funds


2,391,322
171,331
(250,081)
(25,034)
2,287,538


15.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
        £
        £
        £



Tangible fixed assets

1,355,431

-

1,355,431

Fixed asset investments

498,064

-

498,064

Current assets

128,565

5,738

134,303

Creditors due within one year

(8,083)

-

(8,083)

Total 


1,973,977
5,738
1,979,715


Page 18

 
HERTFORDSHIRE BUILDING PRESERVATION TRUST
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.Analysis of net assets between funds (continued)


Analysis of net assets between funds - prior period

Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £



Tangible fixed assets

1,675,440

-

1,675,440

Fixed asset investments

555,676

-

555,676

Current assets

62,676

4,792

67,468

Creditors due within one year

(11,046)

-

(11,046)

Total 

2,282,746
4,792
2,287,538

Page 19