REGISTERED COMPANY NUMBER: 04362306 (England and Wales)

REGISTERED CHARITY NUMBER: 1102399

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 March 2025

for

Fort Amherst Heritage Trust

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

15

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 March 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are:

1. Acquiring, restoring, maintaining, safeguarding, and preserving the historical fortifications known as Fort Amherst and associated fortifications in the borough of Medway in the County of Kent.

2. To collect, care, conserve and display as appropriate, objects and documents relevant to the history of Fort Amherst, it's associated fortifications and setting.

3. Making the same available for research and for educational and recreational viewing and use by the public.

4. Provide benefit to the socially disadvantaged through training, education and work experience associated with the above objects.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

As with FY 2023-2024, I am pleased to say that the Fort Amherst Heritage Trust has come to the end of FY 2024-2025 maintaining a sound financial base on which to take forward its daily operations and plans for the future. The Trust's investment funds continue to deliver positively despite fluctuations in the financial markets. Once again, the efforts of the Trust Secretary and the accountancy team are deserving of praise for the attention they give to our financial affairs.

The newly appointed (Aug 2023) General Manager has continued to make a positive impact on the Trust's operations. Many new activities have been introduced that have attracted a wider cross-section of visitors to the Fort. For the 2024 season paid Tunnel Guides were introduced. This enabled us to offer scheduled tunnel tours seven-days a week. Although this entailed an extra expense, the decision has been justified by the additional income generated. The introduction of paid guides was another step in our ambition to establish the tunnels as a recognised mainstream tourist destination.

During the Winter 2024 and Spring of 2025 the project to introduce enhanced displays into the tunnels took some major steps forward. The WW2 Medway Group Control was refurbished, and a number of completely new displays were introduced at key locations, thus enlivening the visitor experience. This work continues with the next step being the installation of special sound effects.

The special event programme continues to make a huge contribution to the Trust, both financially and in establishing the fortress as a valued community asset. The third season of the Summer Proms Concerts was a success as was the celebrated Halloween Horrors. 2024 also saw the return of the Napoleonic Association to present a largesse military garrison event.

One downside to our operation has been the extended strike in the American film industry which had a sizeable knock-on effect in the UK. Although there were some location enquiries, none of these led to productions visiting Fort Amherst.

Our Park Rangers Team continues to make a positive impact in all aspects of the fortress activities. Working hand-in-hand with grounds contractors and our volunteers they have enabled us to present well maintained parkland at both Fort Amherst and at The Lower Lines Park.

In my previous Annual Report, I made mention of the Museum, Archives and Collections Team towards achieving Accredited Museum Status from the Arts Council England. It is with undisguised pride that I can confirm that this sought after accolade has been achieved. This accreditation elevates the Trust to the upper echelons of museum operations and importantly opens up additional funding sources for future projects.

As the saying goes, 'Rome wasn't built in a day', and this is the case for two opportunities the Trust has been pursuing for some time. One is the acquisition of the Spur Battery Ditches from the MOD, and the other is the transfer to Trust ownership of the Château Barracks Ordnance Stores Building from the barracks developers. Both of these opportunities remain firmly in our sites.

Although the Trust has been able to expand its paid for staff, it is the volunteer teams that continue to underpin much of what we do. Be it as visitor guides, grass cutting, working in the archives, delivering the annual Halloween Horrors spectacular, or giving additional support to the growing events programme, the valued input of volunteers cannot be appreciated highly enough. Their input underscores all that we aspire to.

I cannot end this report without mention of a group of volunteers who make all things at Fort Amherst and the Lower Lines possible - my fellow Trustees. Each of them brings a certain skill or experience to the Trust. Without their input I am sure we would not be in such a buoyant position of confidence as we take the Trust forward.

FINANCIAL REVIEW

Reserves policy

Fort Amherst Heritage Trust needs reserves for a number of reasons:

1. To meet contractual liabilities should the organisation have to close. This includes redundancy pay, amounts due to creditors and other financial commitments.

2. To meet unexpected costs such as break down of essential machinery, staff cover re illness, maternity leave, parental leave, and legal costs defending the charity's interest.

3. To replace equipment as it wears out.

4. To ensure that the charity can continue to provide a stable, friendly and safe tourist attraction and venue for events run by the charity.

5. To minimise recruitment, staff training, staff induction and marketing costs by avoiding the need for redundancies caused by a financial crisis.

6. To provide working capital when funding is paid in arrears. The charity is often in a position where it bids for funding which may be paid up to 12 months in arrears.

7. From time to time funding has certain restrictions which means that by law it must be held as restricted reserves until it is spent in line with the funding agreement.

8. From time to time funding is designated by the trustees for specific projects which are then contracted for. These contracts have to be serviced.

Fort Amherst Heritage Trust funding.

The charity is currently funded by three wholly owned subsidiaries who gift aid their profits up to the charity. The great majority of this funding has been provided by the general public when visiting the charity's premises and facilities.

Other smaller restricted funding is provided for specific renovation projects undertaken by the charity.

The charity also seeks Lottery Grant funds for larger renovation projects. It does take time however to secure such funds or similar from initial research, through the application process to actually receiving the first 'cheque'.

A prudent level of reserves

The charity aims to have reserves to cover six months of normal expenditure.

The trustees of the charity have concluded that the budgeted average monthly cost of the charity is £20,000. As a result, the charity would need £120,000 in its reserves to cover six months of costs.

In addition to this, the charity has allocated some of its reserves to specific projects around the Fort and these would have to be serviced contractually during this six month period. Generally these total approximately £50,000 at any one time.

Furthermore, were the charity to close, the organisation would incur a number of incidental costs including winding up costs, particularly staff redundancies. The trustees have estimated this to be likely in the region of £5,000.

The trustees therefore believe that the total prudent level of reserves would be in in the region of £175,000.

Establishing and maintaining a prudent level of reserves.

In the event of reserves dipping below the target, the charity will aim to restore the stipulated level of reserves over the next four years. This could be achieved by increased fund raising or reducing expenditure.

If reserves exceed 100% of the prudent level of reserves, the charity will consider the likely expenditure over the next two years with a view of bringing forward more capital projects and renovation work.

Monitoring and reviewing of reserves policy.

The trustees will consider current level of average costs, internal specific projects reserves and costs of closure each year to examine the level of reserves when setting the forthcoming year's budget.

This reserves policy will be reviewed every four years.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

A board of directors, who meet at two monthly intervals, administers the charity. There are no committees with delegated powers.

Induction and training of new trustees

New directors receive appropriate training as required.

Related parties

Fort Amherst Limited, Fort Amherst Events & Weddings Limited and Fort Amherst Halloween Limited are all trading subsidiaries of Fort Amherst Heritage Trust.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04362306 (England and Wales)

Registered Charity number

1102399

Registered office

Fort Amherst

Dock Road

Chatham

Kent

ME4 4UB

Trustees

Mr E E Gulvin Prison Officer

Mr G C Robinson Carpet Fitter

Mr D Moorman Director

Mr W J Fowler Events Consultant

Mr K A Rogers Solicitor

Mrs L J Morgan Retired Lecturer/senior Manger

Mr N Clarke Retail Store Manager

Mr S R Bean Town Planner

Mrs N J Moy Project Manager

Independent Examiner

John Champion

McLean Reid

Chartered Accountants

1 Forstal Road

Aylesford

Kent

ME20 7AU

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 July 2025 and signed on its behalf by:

Mr W J Fowler - Trustee

Independent examiner's report to the trustees of Fort Amherst Heritage Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 your charity's accounts as 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.

John Champion

McLean Reid

Chartered Accountants

1 Forstal Road

Aylesford

Kent

ME20 7AU

30 July 2025

2025

2024

Unrestricted

Restricted

Endowment

Total

Total

fund

fund

fund

funds

funds

Notes

£

£

£

£

£

INCOME AND ENDOWMENTS

FROM

Donations and legacies

65,108

55,904

-

121,012

110,889

Other trading activities

2

24,589

-

-

24,589

79,899

Investment income

3

754

-

69,474

70,228

66,720

Total

90,451

55,904

69,474

215,829

257,508

EXPENDITURE ON

Charitable activities

Preserving and maintaining Fort Amherst

145,196

57,104

43,824

246,124

193,903

Other

84,522

-

-

84,522

63,922

Total

229,718

57,104

43,824

330,646

257,825

Net gains/(losses) on investments

-

-

(104,070

)

(104,070

)

223,859

NET INCOME/(EXPENDITURE)

(139,267

)

(1,200

)

(78,420

)

(218,887

)

223,542

Transfers between funds

14

(1,200

)

1,200

-

-

-

Other recognised

gains/(losses)

Gains on revaluation of fixed assets

-

79,198

-

79,198

112,386

Net movement in funds

(140,467

)

79,198

(78,420

)

(139,689

)

335,928

RECONCILIATION OF FUNDS

Total funds brought forward

21,097

2,715,771

2,775,609

5,512,477

5,176,549

TOTAL FUNDS CARRIED FORWARD

(119,370

)

2,794,969

2,697,189

5,372,788

5,512,477

2025

2024

Unrestricted

Restricted

Endowment

Total

Total

fund

fund

fund

funds

funds

Notes

£

£

£

£

£

FIXED ASSETS

Tangible assets

8

18,481

11,432

-

29,913

33,961

Heritage assets

9

-

2,790,599

45,000

2,835,599

2,756,401

Investments

10

201

-

2,417,675

2,417,876

2,670,411

18,682

2,802,031

2,462,675

5,283,388

5,460,773

CURRENT ASSETS

Debtors

11

55,186

30,000

17,300

102,486

62,780

Cash at bank and in hand

(147,701

)

(6,222

)

217,214

63,291

73,434

(92,515

)

23,778

234,514

165,777

136,214

CREDITORS

Amounts falling due within one year

12

(45,537

)

(30,840

)

-

(76,377

)

(79,265

)

NET CURRENT ASSETS/(LIABILITIES)

(138,052

)

(7,062

)

234,514

89,400

56,949

TOTAL ASSETS LESS CURRENT LIABILITIES

(119,370

)

2,794,969

2,697,189

5,372,788

5,517,722

CREDITORS

Amounts falling due after more than one year

13

-

-

-

-

(5,245

)

NET ASSETS

(119,370

)

2,794,969

2,697,189

5,372,788

5,512,477

FUNDS

14

Unrestricted funds

(119,370

)

21,097

Restricted funds

2,794,969

2,715,771

Endowment funds

2,697,189

2,775,609

TOTAL FUNDS

5,372,788

5,512,477

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 29 July 2025 and were signed on its behalf by:

Mr D Moorman - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

No material uncertainties that may cast significant doubt about the ability of the charity to continue as a going concern have been identified by the trustees.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Heritage assets

The Heritage assets are included at insurance valuation, other than the land donated by Lower Lines Park which has been revalued by the trustees at £45,000.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Endowment funds

The charity has an expendable endowment fund received from Lower Lines Park (originally donated by Mid Kent College). Whilst capital gains and losses are added to the endowment fund, the income is spent on the general charitable objects of the charity. The capital of the fund can be spent if the trustees so determine.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investment assets

Investments held as fixed assets are revalued using the market value at the date of the Financial Statements as provided by the fund managers. The gain or loss arising in the year is taken to the statement of financial activities.

2.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Hiring

24,589

79,899

3.	INVESTMENT INCOME

2025

2024

£

£

Other fixed asset invest - FII

69,474

66,339

Deposit account interest

754

381

70,228

66,720

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

13,687

15,098

Hire of plant and machinery

-

458

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 March 2025 nor for the year ended 30 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 March 2025 nor for the year ended 30 March 2024.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2025

2024

General administration

5

3

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Endowment

Total

fund

fund

fund

funds

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

84,067

26,822

-

110,889

Other trading activities

79,899

-

-

79,899

Investment income

381

-

66,339

66,720

Total

164,347

26,822

66,339

257,508

EXPENDITURE ON

Charitable activities

Preserving and maintaining Fort Amherst

167,081

26,822

-

193,903

Other

63,922

-

-

63,922

Total

231,003

26,822

-

257,825

Net gains on investments

-

-

223,859

223,859

NET INCOME/(EXPENDITURE)

(66,656

)

-

290,198

223,542

Transfers between funds

66,656

-

(66,656

)

-

Other recognised gains/(losses)

Gains on revaluation of fixed assets

-

112,386

-

112,386

Net movement in funds

-

112,386

223,542

335,928

RECONCILIATION OF FUNDS

Total funds brought forward

21,097

2,603,385

2,552,067

5,176,549

TOTAL FUNDS CARRIED FORWARD

21,097

2,715,771

2,775,609

5,512,477

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 31 March 2024

124,707

Additions

9,639

At 30 March 2025

134,346

DEPRECIATION

At 31 March 2024

90,746

Charge for year

13,687

At 30 March 2025

104,433

NET BOOK VALUE

At 30 March 2025

29,913

At 30 March 2024

33,961

9.	HERITAGE ASSETS

Total

£

MARKET VALUE

At 31 March 2024

2,756,401

Revaluations

79,198

At 30 March 2025

2,835,599

NET BOOK VALUE

At 30 March 2025

2,835,599

At 30 March 2024

2,756,401

The heritage assets held by the charity are the buildings and historical weaponry constructed on and displayed within the area known as Fort Amherst, which is a fort originally constructed during Napoleonic times in preparation for a possible invasion. Fort Amherst was also used as a civil defence centre in both world wars.

The Fort and the buildings are in a near constant state of restoration with the grounds and buildings open to the public.

The heritage assets are carried on the balance sheet at insurance re-instatement valuation.

10.	FIXED ASSET INVESTMENTS

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

MARKET VALUE

At 31 March 2024

201

2,670,210

2,670,411

Additions

-

1,535

1,535

Disposals

-

(147,139

)

(147,139

)

At 30 March 2025

201

2,524,606

2,524,807

PROVISIONS

Provision for year

-

106,931

106,931

NET BOOK VALUE

At 30 March 2025

201

2,417,675

2,417,876

At 30 March 2024

201

2,670,210

2,670,411

There were no investment assets outside the UK.

Cost or valuation at 30 March 2025 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2025

-

84,170

84,170

Cost

201

2,440,436

2,440,637

201

2,524,606

2,524,807

The company's investments at the balance sheet date in the share capital of companies include the following:

Fort Amherst Limited

Registered office: Fort Amherst, Dock Road, Chatham, Kent ME4 4UB

Nature of business: Trading activities at Fort Amherst site.

%

Class of share:

holding

Ordinary

100

31.3.25

31.3.24

£

£

Aggregate capital and reserves

100

280

Loss for the year

(180

)

-

Fort Amherst Events & Weddings Limited

Registered office: Fort Amherst, Dock Road, Chatham, Kent ME4 4UB

Nature of business: Trading activities at Fort Amherst site.

%

Class of share:

holding

Ordinary

100

31.3.25

31.3.24

£

£

Aggregate capital and reserves

831

5

Profit/(loss) for the year

826

(21

)

Fort Amherst Halloween Limited

Registered office: Fort Amherst, Dock Road, Chatham, Kent ME4 4UB

Nature of business: Trading activities at Fort Amherst site.

%

Class of share:

holding

Ordinary

100

31.3.25

31.3.24

£

£

Aggregate capital and reserves

21,411

20,981

Profit/(loss) for the year

430

(2,084

)

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

13,790

15,599

Amounts owed by group undertakings

35,975

23,223

Other debtors

1,468

-

Accrued income

47,300

16,887

Prepayments

3,953

7,071

102,486

62,780

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

35,516

14,562

Social security and other taxes

1,572

613

Other creditors

573

192

Deferred income

-

1,500

Accrued expenses

7,877

14,079

Deferred grants

30,839

48,319

76,377

79,265

13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Deferred grants

-

5,245

14.	MOVEMENT IN FUNDS

Net

Transfers

At

movement

between

At

31.3.24

in funds

funds

30.3.25

£

£

£

£

Unrestricted funds

General fund

21,097

(139,267

)

(1,200

)

(119,370

)

Restricted funds

Restricted

2,715,771

77,998

1,200

2,794,969

Endowment funds

Mid Kent College

2,775,609

(78,420

)

-

2,697,189

TOTAL FUNDS

5,512,477

(139,689

)

-

5,372,788