The Dronfield Heritage Trust Charity Accounts

THE DRONFIELD HERITAGE TRUST - Company Information

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COMPANY REGISTRATION NUMBER: 06299935

CHARITY REGISTRATION NUMBER: 1120875

The Dronfield Heritage Trust

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2022

The Dronfield Heritage Trust

Company Limited by Guarantee

Financial Statements

Period from 1 August 2021 to 31 December 2022

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	4

Statement of financial activities (including income and expenditure account)	5

Statement of financial position	6

Accounting policies	0

Notes to the financial statements	12

The Dronfield Heritage Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Period from 1 August 2021 to 31 December 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 December 2022 .

Reference and administrative details

Registered charity name	The Dronfield Heritage Trust

Charity registration number	1120875

Company registration number	06299935

Principal office and registered	Unit 8, Acorn Business Park
office	Woodseats Close
	Sheffield
	S8 0TB

The trustees

	Mr. A. A. Powell (Chair)
	Mrs. A.. Brown
	Mrs. J. E. Emens
	Mrs. D. Smillie
	Mr. B. G. Simpson
	Mrs. A. Carannante	(Resigned 27 September 2022)
	Mr. W. Campbell
	Mr. R. Holmes	(Resigned 27 September 2022)
	Mrs L. Third	(Appointed 23 January 2023)

Independent examiner	Henry Bramall & Co Limited Chartered Certified Accountant
	Unit 8
	Acorn Business Park
	Woodseats Close
	Sheffield
	S8 0TB

Structure, governance and management

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

The day to day operations of the Charity are undertaken by Mrs. C. Wilkes, senior manager.

It is registered as a charity with the Charities Commission. Membership of the company must be approved by the Board of Trustees. Each person who wishes to become a membership deliver to the company an application for membership in such as the board require executed by them.

Recruitment and appointment of new trustees

The Charity must have a minimum of 4 trustees to be quorate. The permitted maximum number of trustees is currently 7. Two trustees must offer themselves for re-election by rotation at the AGM which must be held each calendar year.

Organisational structure

The Board of Trustees administers The Charity. The Board meets at least quarterly. The information is provided to the Trustees by the Charity administrator.

Induction and training of new trustees

New Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, the business plan and recent financial performance of the company.

Risk based approach

The Board of Trustees commit to plan against risk in respect of the whole Charity. This includes identifying all risks involved with generating income and the impact of any loss in sources of income. Viable alternatives would then be sought. The whole of the Trustees are made aware of the Risks relative to the Charity and their legal responsibilities. The Board of Trustees are fully aware of their obligations under GDPR to ensure all personal information is securely held.

Wider network

The budget is submitted to the trustees quarterly for approval at trustees meetings. Any material changes to the budget are submitted to a specially convened meeting of the trustees.

Day to day management of the project is overseen by a project management committee comprising of at least two trustees, one of whom is the chairman.

Related parties

The Charity has a close relationship with the trustees of The Peel Centre, an organisation which runs a building situated close to the property and grounds of The Dronfield Heritage Trust .

Objectives and activities

The main purpose of the Charity is the maintenance and upkeep of the Heritage Asset known as The Dronfield Hall Barn. Originally this was a derelict building where the heritage asset was at risk and has now been sympathetically restored to retain these features. This is achieved through donations, grants, exhibitions and rental of the Barn and by running an events programme. The Charity also has access to a large group of unpaid volunteers who's help and dedication is paramount to the Charity's success.

Achievements and performance

The restoration of the building has been maintained throughout the period with grants received during covid now being utilised. All fundraising undertaken by the Trust is utilised on the project. THe upkeep includes both structural and general maintenance. The Trust retains its centrepoint for the community of Dronfield for volunteering, holding events and exhibitions.

Financial review

The Trust took the decision to move its financial year to 31st December 2022 to align it with the calendar year. Therefore, as at the accounting period ending December 2022, Dronfield Heritage Trust had a positive period with its wedding functions utilising 28 out of the 30 licences available. With Covid support now finishing, very little Grants have been received and those received are not Covid related. The disclosed negative results are mainly due to the upkeep and maintenance of the Barn and surrounding area. This includes £12,680 on repairing the outer wall. The Trust is still coming out of the affect of Covid but the Trustees are confident for the future.

Financial statements

The Trustees acknowledge the delay in completing the accounts on time, this will be addressed for the year to 31st December 2023 with signed accounts being made available within 90 days thereon.

Events after the end of the reporting period

Mrs. L. Third has been appointed a Trustee on the 23rd January 2023. The Trust has set up a trading subsidiary with the intention of bringing the coffee shop and wedding catering in house. This will be separately managed with all profits being donated to the Charity.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 22 November 2023 and signed on behalf of the board of trustees by:

Mr. A. A. Powell (Chair)

Trustee

The Dronfield Heritage Trust

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of The Dronfield Heritage Trust

Period from 1 August 2021 to 31 December 2022

I report to the trustees on my examination of the financial statements of The Dronfield Heritage Trust ('the charity') for the period ended 31 December 2022.

Responsibilities and basis of report

As the trustees of the company (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 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 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 charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. 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

4. 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 accounts to be reached.

Henry Bramall & Co Limited Chartered Certified Accountant

Independent Examiner

Unit 8 Acorn Business Park Woodseats Close Sheffield S8 0TB

22 Nov 23

The Dronfield Heritage Trust

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Period from 1 August 2021 to 31 December 2022

	Period from 1 Aug 21 to 31 Dec 22		Year to 31 Jul 21
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	4	20,749	20,749	150,560
Charitable activities	5	122,612	122,612	76,815
Investment income	6	384	384	7
Other income	7	38,682	38,682	10,045
		---------	---------	---------
Total income		182,427	182,427	237,427
		---------	---------	---------

Expenditure

Expenditure on raising funds:

	Costs of other trading activities	8	27,742	27,742	19,744
Expenditure on charitable activities		9,10	234,982	234,982	133,856
			---------	---------	---------
Total expenditure			262,724	262,724	153,600
			---------	---------	---------

	---------	---------	---------
Net (expenditure)/income and net movement in funds	( 80,297)	( 80,297)	83,827
	---------	---------	---------

Reconciliation of funds

Total funds brought forward	462,590	462,590	378,763
	---------	---------	---------
Total funds carried forward	382,293	382,293	462,590
	---------	---------	---------

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

All income and expenditure derive from continuing activities.

The Dronfield Heritage Trust

Company Limited by Guarantee

Statement of Financial Position

31 December 2022

	31 Dec 22	31 Jul 21
Note	£	£

Fixed assets

Tangible fixed assets	16	28,055	25,801
Heritage assets	17	338,440	338,440
		---------	---------
		366,495	364,241

Current assets

Stocks	18	952	–
Debtors	19	11,116	3,362
Cash at bank and in hand		93,251	109,250
		---------	---------
		105,319	112,612

Creditors: amounts falling due within one year	20	89,521	14,263
		---------	---------
Net current assets		15,798	98,349
		---------	---------
Total assets less current liabilities		382,293	462,590
		---------	---------
Net assets		382,293	462,590
		---------	---------

Funds of the charity

Unrestricted funds		382,293	462,590
		---------	---------
Total charity funds	22	382,293	462,590
		---------	---------

For the period ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

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

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

The Dronfield Heritage Trust

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of trustees and authorised for issue on 22 Nov 23 , and are signed on behalf of the board by:

Mr. A. A. Powell (Chair)

Trustee

The Dronfield Heritage Trust

Company Limited by Guarantee

Accounting Policies

Period from 1 August 2021 to 31 December 2022

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: -income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. -legacy income is recognised when receipt is probable and entitlement is established. -income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. -income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: -expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. -expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. -other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Equipment	-	33% reducing balance

Heritage assets

Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Heritage assets measured under the revaluation model are recorded at fair value less any accumulated impairment losses. Where information on the cost or value of an asset is not available and cannot be obtained at a cost which is commensurate with the benefits to users of the financial statements, the asset shall not be recognised in the statement of financial position.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

The Dronfield Heritage Trust

Company Limited by Guarantee

Notes to the Financial Statements

Period from 1 August 2021 to 31 December 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 8, Acorn Business Park, Woodseats Close, Sheffield, S8 0TB.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Limited by guarantee

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.

4. Donations and legacies

Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
£	£	£	£

Donations

	Donations received - Barn and walks	5,016	5,016	5,970	5,970

Grants

	Grants receivable	7,667	7,667	139,380	139,380

Subscriptions

Subscriptions Friends membership	8,066	8,066	5,210	5,210
	--------	--------	---------	---------
	20,749	20,749	150,560	150,560
	--------	--------	---------	---------

5. Charitable activities

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Plant and garden takings	3,551	3,551	3,147	3,147
Publications	1,984	1,984	1,870	1,870
Wedding events	73,515	73,515	66,760	66,760
Producer Markets	6,372	6,372	217	217
Cultural events	37,190	37,190	4,821	4,821
	---------	---------	--------	--------
	122,612	122,612	76,815	76,815
	---------	---------	--------	--------

6. Investment income

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Bank interest receivable	384	384	7	7
	----	----	----	----

7. Other income

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Catering rental income	38,682	38,682	10,045	10,045
	--------	--------	--------	--------

Weddings are recorded when deposits and final balances are paid. As at the end of 31st December 2022 there were 30 weddings still to be completed.

8. Costs of other trading activities

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Costs of other trading activities - Staging events	25,565	25,565	16,340	16,340
Gardening purchases	888	888	2,852	2,852
Publications	1,289	1,289	552	552
	--------	--------	--------	--------
	27,742	27,742	19,744	19,744
	--------	--------	--------	--------

9. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2022	Unrestricted Funds	Total Funds 2021
	£	£	£	£
Support costs	234,982	234,982	133,856	133,856
	---------	---------	---------	---------

10. Expenditure on charitable activities by activity type

	Support costs	Total funds 2022	Total fund 2021
	£	£	£
Maintenance of Heritage Building	232,635	232,635	131,830
Governance costs	2,347	2,347	2,026
	---------	---------	---------
	234,982	234,982	133,856
	---------	---------	---------

11. Analysis of support costs

	Analysis of support costs activity 1	Total 2022	Total 2021
	£	£	£
Staff costs	88,787	88,787	51,906
Premises	102,155	102,155	27,462
Communications and IT	7,896	7,896	5,028
General office	5,103	5,103	9,772
Human resources	2,430	2,430	2,678
Governance costs	2,347	2,347	–
Marketing	8,982	8,982	7,138
Consultancy	2,443	2,443	18,479
Other Costs - including depreciation	12,492	12,492	9,367
	---------	---------	---------
	232,635	232,635	131,830
	---------	---------	---------

12. Net (expenditure)/income

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

	31 Dec 22	31 Jul 21
	£	£
Depreciation of tangible fixed assets	9,043	6,854
	-------	-------

13. Independent examination fees

	Period from
	1 Aug 21 to	Year to
	31 Dec 22	31 Jul 21
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	2,200	4,175
	-------	-------

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	Period from
	1 Aug 21 to	Year to
	31 Dec 22	31 Jul 21
	£	£
Wages and salaries	79,685	46,330
Social security costs	567	470
Employer contributions to pension plans	8,535	5,106
	--------	--------
	88,787	51,906
	--------	--------

The average head count of employees during the period was 2 (2021: 2 ). The average number of full-time equivalent employees during the period is analysed as follows:

	31 Dec 22	31 Jul 21
	No.	No.
Number of staff - Support	2	2
	----	----

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

The only monies received by Trustees is the reimbursement of expenses incurred.

16. Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 August 2021	31,773	38,040	7,607	77,420
Additions	–	7,810	3,487	11,297
	--------	--------	--------	--------
At 31 December 2022	31,773	45,850	11,094	88,717
	--------	--------	--------	--------
Depreciation
At 1 August 2021	23,196	22,463	5,960	51,619
Charge for the period	2,144	5,196	1,703	9,043
	--------	--------	--------	--------
At 31 December 2022	25,340	27,659	7,663	60,662
	--------	--------	--------	--------
Carrying amount
At 31 December 2022	6,433	18,191	3,431	28,055
	--------	--------	--------	--------
At 31 July 2021	8,577	15,577	1,647	25,801
	--------	--------	--------	--------

17. Heritage assets

The Charity's Heritage Asset consist of the building known as 'The Dronfield Barn' Acquisitions to the asset are only recorded if they increase the value of the asset. Maintenance is coated through the Statement of Financial Activities.

	Heritage asset 1
	£
Cost or valuation
At 1 August 2021 and 31 December 2022	338,440
	---------
Accumulated depreciation
At 1 August 2021 and 31 December 2022	–
	---------
Carrying amount
At 31 December 2022	338,440
	---------
At 31 July 2021	338,440
	---------

The Heritage asset is recorded at cost but has an insurance value of £1,797,865.

18. Stocks

	31 Dec 22	31 Jul 21
	£	£
Finished goods and goods for resale	952	–
	----	----

19. Debtors

	31 Dec 22	31 Jul 21
	£	£
Prepayments and accrued income	11,116	3,362
	--------	-------

20. Creditors: amounts falling due within one year

	31 Dec 22	31 Jul 21
	£	£
Trade creditors	1,041	2,124
Accruals and deferred income	87,489	4,960
Social security and other taxes	941	1,825
Other creditors	50	5,354
	--------	--------
	89,521	14,263
	--------	--------

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 8,535 (2021: £ 5,106 ).

22. Analysis of charitable funds

Unrestricted funds

	At 1 August 2021	Income	Expenditure	At 31 December 2022
	£	£	£	£
General funds	462,590	182,427	(262,724)	382,293
	---------	---------	---------	---------

	At 1 August 2020	Income	Expenditure	At 31 July 2021
	£	£	£	£
General funds	378,763	237,427	(153,600)	462,590
	---------	---------	---------	---------

23. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2022
	£	£
Tangible fixed assets	28,056	28,056
Heritage assets	338,440	338,440
Current assets	105,319	105,319
Creditors less than 1 year	(89,522)	(89,522)
	---------	---------
Net assets	382,293	382,293
	---------	---------

	Unrestricted Funds	Total Funds 2021
	£	£
Tangible fixed assets	25,801	25,801
Heritage assets	338,440	338,440
Current assets	112,612	112,612
Creditors less than 1 year	(14,263)	(14,263)
	---------	---------
Net assets	462,590	462,590
	---------	---------