Charity Number., 1001226 THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
THE MUSEUM OF THE MERCIAN REGIMENT {WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) CONTENTS Page Reference and administrative details of the charity, its trustees and advisers Trustees, report Independent examiriers report Statement of financial activities Balance Sheet Notes to the financia5 statement 10-20
THE MUSEUM OF THE MERCIAN REGIMENT {WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTIONI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED31 DECEMBER 2023 Trustees erigadler P DÉnnls CBE, Chalrman ex olllclo Ellzabeih Fo[heIll Lord tieutenant of Derbyshlre CBE, Brigadler IRetdl C E Wllkinson CBE TD DL Colonel (Retdl DR Sneath MA TD DI Lleutenant Colonel D Flt2ger2ld Lieutenant Colonel M A Holden. Ch£lrman Lieutenant Colonel K Splers 08E Mr D HaTrison- reslgned Mr M Shaw Mr M Siddons Cllr N Atklns Charlty registered number 1001226 Princlpal offlce Foresters House Army Rese¥ve Centre Swinoy Way Nottinghamshire NG18 IRR AoUntant Aaron Cooke FCA L J Hanbury Chartered Ac¢ountants Ashleigh Villa, 143 Tamworth Rd, Long Eaton, Nottingham NGIO IBY Bankers CAF Bank Ltd 25 Klngs Hill Avenue West Malllng Kent ME19 4JQ COIF Charitle5 Deposlt Fund Senator House 85 Queen Victorla Street London EC4V AIET
THE MUSEUM OFTHE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees plesent their annual report together wlth the financial statement5 of the charity The Museum of the Mercian Regimet)t (Worcestershire and Sherwood Foresters, collectionl for the year from l January 2023 to 31 December 2023. The trustees confirm that the annual report and financial statements of the charity comply wlth the current statuary requirements, the requlrements of the charity's governing document and the provi55ons of statement of recommended practice: Accounting and Reporting by CharltSes preparing their financial statements ir) accordance wlih the Financial Reporting Standard appllcable In the UK and the Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charitle5 Att 2011. Policies and objectives The museum exists to tell the Story of the Régiment's13nd its predecessors, and successors'l history and achievements by collectin& preseNlng, and dlsplaySng the Regiment's collection of artefact5 from its formation in 1741 to the present day for the benefit of the present and former members of the Regiment, the residents of Nottlnghatllshire and Derbyshire, those further afield with specialised Interest and visitors to the area. The displays of the collectlon aim to Interpret and communicate in ways that inspire enjoyment and provokè questions from visitors. The trustees have paid due regard to the Charlty Commission's guidance on publlc beneflt In declding what activities the charlty should undertake. The museum provides public benéfit Ibenefit to public at largel by.. Educating the public about the character, activities, and history of the &ritish Armv Commemorating and remembering those who have lost their lives or suffered injury or put themselves at risk of loss of life or injury in service lo the publlc Strengthening the Ilnks between the military and civilian communit1es A5515ting 5ervlce5 personnel more effectively to perforrn thelr rnllitary roles It achieves thls by recordlng their deeds and those of their forebears, thereby hÉlplng to IncLJlcate an ethos ahd esprit de corps that generate the fighting spirit necessary for 5ucces5ful operatlan5. As a result, the museum promotes the efficiency of the armed force5 of the Crown by enhancing the British Army'5 capablllty to undertake the roles demanded of It Includlng the defence of the Unlted Kingdom and its Interests. Volunteers The museum is reliant on its volunteers to undertake research, 3rchlve work, educational projects and to Staff stands on open days and events in the two cout)tles. The trustees estlmate that the number of hours and value of volunteers to the Museum in 2023 was 54 whlch equate5 to £225 land uslng HLF agreed figure of £100 per day for skilled volunteers).
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION} TRUSTEES, REPORT Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE Revlew of actlvltles In 2023 the museum continued to focus on the archives In Chllwell. The medal dlsplays were refreshed, and temporaly exhlbltion changed evèry 6 month5. The museum's donation box had to be removed due to vandalism and had to be repaired. The webslte has ensured a steady income stream from its museum enquiry service for those researchSng their lamlly history with the regSment. The museum hired a Museum Ass15tant in 2022, to al$t the Curator, and this has proved Invaluable. 2023 saw the contlnued employment of an Assistant who answered Family Hlstory enqulrles, an Smportant funding stream for the museum. Nottingham City Councll took over the running of the site and the site remained closed for ihe remalner of 2022. In June 2023, the slte w85 reopened by the City Council and the museum gallery was open to the publlc again oncé more. The museum contlnues to be a member of EMMA (Eakt Military Museums Association) and the Curator attend5 It5 meetlngs so that the museums can work together on joint projerts. 2023 saw these meetings continued onllne. PhysScal visitols numbers to museum gallery In Nottingham Castle from lune 2023- December were 147,487. Our shared gallery in Derby Museum saw 85,738 vSsitors to the gallery. The website hit5 are recorded In 2023 as 12,682 page views and 3770 usèrs. 81% of those user5 are new users and 19 % are returning. On social media we had 809 followers on Facebook and 340 follower5 on X, formerly Twitter. Edutatlon The Education Outreach SeNice with Access Aitefacts of Nottingham Museums and Galleries is part of the Heritage Lottery furKI award. In Ottober 2016 both organisaticns split the profits of the boxes with Access Artefacts administering and marketing the boxes to loc815chools. Sinte the boxes launched, they have earned the museum £252.50 in income to date. Finan¢lal review and Reserve5 Policy The charity's funds continue to be invest8d as previously in COIF Accumulation 8nd Income Units Ilncome units are generating at least £6,000 pa to support running costs together wlth a small reserve of about £8,500 held on deposltl wlth the alm to achievin8 growth ag3inst the day when the grant in aid f¥om the min1stry of defencè Is withdrawn, currently 2030. Projectlons indicate that the cost of the Curator'5 pay will be covered by then, but more money will need to be raised to cover operatlonal Costs from 2030. The Regimental Council of the Mercian Regiment ha5 been considering severance grants to the museums of antecedent regiments.
THE MUSEUM OF THE f¥lERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLEcfioN) TRUSTEES. REPORT l¢ontlnuedl FOR THE YEAR ENDED 310ECEMBER 2021 The Trustees of the museum contlnue to meet to d15CU55 Way5 In whlch addltlonal supportlfundlnB an be 8enerated to ensure Museum contlnues to represent the Merclan fleglment and Its antecedents In our area STRucfuRE, GOVERNANCE AND MANAGEMENT Con5tliutlon The Museum of the Mertlan reglment Iwofcestershlre and Sherwood Forestefs Collectlonl, Charlty reglstered nLrmber 1001226 Is currently congtltuted by deed of trust dated 6 May 1990 whl¢h has been updated and wa5 5ubmltted to the Chailty Commissloners In 2019. The permanent Exhlbltlon Is housed In Nottln8ham Castle, on a Ilcence due for renewal by 2033. Method for appolntment or elertlon of trustees The mana8ement of the charlly Is the responslblllty of the trustees who are elected and coPted under the tem5 01 the trust deed. Or8anlsatlonal strurture and declslon maklng The Irustees meet twlce a year to revlew the flnanres and operatlon ofthe mtjseum. A management commlttee meets at approxlmalely two-month InteNals wlth a Curatorto approve and coordlnate the day-to-day management ol the museum. The report was approved by ihe trustees, on,/5 Od4..2¥.and slqned on thelr behalf by., Lleutenant Colcnel M A Holden, Chalrman Trustee
THE MUSEUM OF THE MERCIAN REGIMENT IWORCESTERSHIRE & SHERWOOD FORESTERS COLLEcfioNI INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED31 DECEMBER 2023 INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OFTHE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FOREST£RS COLLECTIONI (ThE"CHARITY"I I report to the charlty trustees on my examlnatlon of the accounts of the charlty for the year ended 31 December 2023. The report is made solèly to the charity's twstees, as a i)odyi in accordance with part 4 01 the charities laccounts and reports) regulations 2008, My work has been undèrtaken so that I mlght state to the charity's trustees those matters l am requlred to state to them In the independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibillty to anyone other than the ch8rity and the charitvs trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the trustee5 of the charlty you are responsible for the preparatlon of the accounts In accordance wlth the requirements of the charities act 20111'the 2011 act'l. I report in respect of the examination for the charlS accounts carrted out under sectlon 145 of the 2011 act and in carrying out my eKamination I have followed all the applicable Jirectlons given by the charity cornmisslon under section 145lsllbl of the 2011 Act. INDEPENDENT EXAMINER STATEMENT Your attention Is drawn to the fact the charity has prepared the account5 In accordance with the Accountlng and Reporting by the charitles.. Statement of recommended practice appllcable to charltles preparing thelr accounts accordance with the Financial réporting standard applicable in the UK and republlc of Ireland IFRS 1021 ih preference to the Accountlng and reporting charitles= statement of recommeNded practice issues on l April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done In order for the accounts to provide a true and fair view In 8ccordance with the generally accepted accounting practice Èffective for reporting periods beginn1ng on or aftei I january 2015. I have completed my examination. I can confirm that no matters have come to my attention in connection with the examlnation to 8lve me cause to believe that In any materlal respecl.. l. Accounting record5 were not kept In the re5ped of the charity as requlred by section 130 of the 2011 Act,. or 2. The 3ccounts do not accord with those records., or 3. The accounts do not comply with the appllcable requiremenrs concerning thè form and the content of the accounts as set out In the charities IAccountS at)d Reports) RegL¢latlons 2fK)8 other than any re4uSrement that the accounts give a 'true and fair, view which is not a matter considered as part of an independènt èxamination.
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 310ECEMBER 2023 I have no concerns and have come across no other matters In connection wlth the examination to which attention should be drawn in the report in ordér to enable a proper under5tandlng of the accounts to be reached Signed.. Dated.. 18 110 lJciJ4 AARON COOKE FCA. Chartered AccoLEntant
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrleted Funds 2023 Total Funds 2023 Total Funds 2022 Income from: Note Dc>nations and legacies Charitable activitles Investments Total Income 7,643 29,686 8,360 45,689 7,643 29,686 8,360 45,689 3,559 23,305 10,169 36,033 Expendltures on.. Charitable activities Total expendlture 37,039 37,039 37,039 37,039 35,909 35,909 Net Income before Inv¢stment gains/llossesl Net losseslgains on Investments li 86,241 86,241 184,1171 Net Income before other recognlsed gains and losses 94,891 94,891 183,9931 Net movement In funds 94,891 94A91 183,9931 Reconciliatlom of funds: Total funds brought forward 589,179 589,179 673,172 Total funds carrled forward 684,070 684,070 589,179 The notes on pages 10 to 20 form pait of these financial statements.
7HE MUSEUM OFTtrIE MERCIAN REGIMENTIWORCESTERSHIRE & SHERWOOO FORESTERS COLLEcfioNI DANCE SHEET AS AT31 DECEM8EA 202$ 2022 Notè FIXEDA$5Ers Her5ta8e )sset$ TanBlble assets Inve5trnents 16.491 14,340 627.278 6S8.109 16A91 16,IIB 541,037 573.646 io li ¢LIIRENT ASSETS Dtbtors C35hat b•nkond In hand 12 88S 25156 26.741 3,188 12,945 16,133 CIIEOITORS: amounts fallln8 due wlthlnoneyear NCuRRENT A55ETS NASsET5 13 780 500 15,534 589,179 CHARITY Fuhw Unrestrlcted funds 14 684,070 589,179 YOTAL FUNDS 6B4.070 589,179 Tho financlal ststements were oppr)ved byth¢ tfUStèES on the... thdr behalf, bv,, U•uteranl CdDnel MA Holdqn. A1Cha11Mn The notes on page io 10 20 lorm partof these flnanclal 5titement5.
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 I. ACCOUNTING POLICIES 1.1. Basls of preparation of flnancial statements The flnantlal statements have been prepared to glve 'true and fair vlew and have departed from the charitles (accounts and reposts regulations 2008 only to the extent required to provide a true and falr, vlew, This departure has involved followlng the charltles SORP IFRS 1021 published on 16 july 2014 rather than the 3¢counting and reporting by charities Statement of recommènded practlce effectlve from l April 2005 whlch has since been wlthdrawn. The fln3ncial statements have been prepared under the historical cost cOnVentn with Items recognised at cost or transaction value unless otheNJSse stated in the relevant notes to these accounts, The flnanclal statement5 have been prepared In 3ccordance to thc statement of recommended practice.. Actounting and Reportlng by Charities preparinE their accountlnÉ accordance wlth the Financial reportSnÈ standard appll¢able In the UK and the republic of Ireland IFRS 1021 issued on 16 July 2014 and financial reportin8 5tBndard applicable In the united kinEdom and Republ1¢ of Ireland IFRS 1021 and charities act 2011. The Museum of The Mercian Reglment Iworcestershlre and Shenmood Foresters collection) constitutes a publlc beneflt entity as deflnèd by FRS 102. 1.2. Fund aceounting General finds are unrestricted funds which are available for use at the dlscretion of the trustees in furtherance of the general objectlve5 of the charity and which have not been designated for other purposes. Restricted funds are fund5 whlch are to be used In accordance with specific restrictions Imposed by donors or whlch have been ralsed by the charity for partlcular PUTpDses. The costs of raising and administering such funds are charge4J aga5nst a specific fund. The aim and use of each restricted fund is set out in the notes of the financlal statement. io
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 I. ACCOUNTING POLICIES (Gontinuedl 1.3. Income All income is recognised once the charity has entltlement to the Income, It Is probable that the income will be received and the amount of received can be measured reliably. For legacles, entltlement Is taken a5 the earller date on which elther.. the charity is aware that probate 15 grated, the estate has been finalised Ond notification has been made, or when the dlstribution has been received from the estate. ReIpt of a legacy, In whole or part, Is only considered probable when the 3mOUnt can be measurèd relSably and the charity has been notlfled of the executorfs Intentltsns to make 3 dlstributlon. Whore legacies have been notified to thc charlty or the charlty Is aware of the grantlng of probate, and the trlterla for income recognition have not beell met, then the legacy is treated as a contingent asset and disclosed if materlal. Gifts In kind donated for distributiori are included at valuation and recognised as Income when you're sold. Donated facilitie5 are included at value to the charily where this c3n be quantified and a third party is bearing the cost. No amounts are Included In ihe flnanclal statemenis for serVIS donated by volunteers. Income lax recoverable in relation to donations received under gift aid or deed5 of covenant Is recogni5ed at the time of donation. Other Income recognlsed In the perlod In which It Is recelvable and to the extent the goods have been provlded or on completion of the servlces. 1.4. Expendlture Expenditure Is recognised once there is a legal or constructive obligation to transfer economlc benefit to a third partyi It is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by actniity. The cost of each activity are made up of the total of the direct costs and shared costs, including svpport costs involved undertaking each activity. D1ct 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 charge5 allocated on the portion of the assets Use. Governance costs are those incurred in tonnection with administration of the charity and compllance wlth the constitutlanal and statutory requiremenls Charitable activilies and governance costs are costs Incurred on the charity's educational operations, including support costs and costs relatlng tc> the governance of the charity apportioned to charitable activitle5. All expenditure is inclusive of irrecoverable VAT. li
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTIONI NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 I. ACCOUNTING POLICIES Icontinuedl 1.5. Heritage a5set5 The charity holds herltage assets, whlch arè tangible fixed assets of hlstorical, artistic or stientiflc Importance that are held to advance preseNation and conservation otslectives of the charity. Newly purchaged herltage 3ssets are capitalised and Included at cost including any incidental expenses of acquisltion. Where herltage assets where acquSred in the last accountlng periods and not capitalised, It is difficult or costly to attribute a cost or value to them. In such cases, these assets are excluded from the balance sheet if reliable cost inforrnation15 not available and conventional valuation approache518ck sufficient rellability or slgnificate costs are Involved In the reconstruction or analysis of p45t accounting records or in valuation, whlch are onerous compared wlth the additional benefit derlved by users of the financial statements in asses51ng ihe trustees, stewardship of the assets. The very long expected life of heritage assets, due to their nature, value and need to be protected and preserved means that deprecation is not material and is, therefore, ntst provided. Herltage assets represent the regiment's collection of artefacts from Its formation in 1741 to the present day. Tanglble fixed assets are carrled at cost, net depretlation and any provision for Impairment. Depreciation is provided at rates calculated to wrlte off the c05t of fixed Bsset5, less their estimated residual value, over thèir expected useful Ilve5 on the following basis.. 1.6. Investments Fixed asset investments are a foim of financial Instrument and a Snitially recognlsed at their transactlon cost and subsequently measured at a falr value at the balance sheet date,. unless falr value cannot be measured reliably in whlch case it is measured at cost less impairment. Investment galns ancf1055es, whether realised Dr unreallsed, are combined and shown in the heading'galns/ Ilossesl on investments in the statement of financial activitles. 1,7. Interest recelvahle Interest on funds held on deposit is included when recelvable and the amount can be measured reliably by the charity- this is normally upon notification of the interest paid or payable by the bank. 1.8. Tanglble assets Tangible assets are stated In the balance sheet 3t cost, less any subsequent accumulated depreciation and subsequent accumulated Impaimlent loss. The cost of tangible assets includes directly attributable incrernental costs incurred in their acquisltion and Installation. 12
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 I. ACCOUNTING POLICIES Icontinuedl 1.9. Depreciation Depreciation is chargèd so as to write off the cost of assets, other than18nd and property under Construction over their estimated useful lives, as follows.. plant and Machine¥y 10%125% reducing balance 1.10. Debtors Tradè and other debtors are recognlsed at the settl¢ment amount after any trade dlscount offered. Prepayments are valued at the amount prepald net of any trade discount due. 1.11. Cash and bank and in hand Cash at bank and in hand included cash and short terrn liquld Investments wlth a short maturlty of three months or less from the date of acquisition or openlng of the deposlt or similar account, 1.12. Llabllltles and provlsions Llabilities are recognised when there is an obllgation at the balante sheet date as a result of past event, it Is probable that a transfer of economic benefit will be required In sÈttlement, and the amount of ihe settlement can be estimated reliably. Liabilities are recognlséd at the amount that the charity anticipates it will pay to settle the debt or the amount it ha5 recelved in advanced Payments for the goods and services it musl provide. ProvlsStsns are measured al the best estimate of the amount requlred to settlè the obligation. Where the effect of the time value of money is material, the provision Is based on the present value of those amounts, dSscounted at the pre-tax discount rate that reflects the rlsks speciflc to the liability. The unwinding of the discount is cognised within interest payable and similar changes. Financial instruments The charity only has fin3nci31 assets and financial liabilities of a kind that qualify as basic flnancial Instruments. Basi5 financl31 instruments are initially recoEnises at transactlon value and subsequently measured at their settlement value with the exception of bank loans which are Subsequently measured at 3mort15ed cost using the effectlve interest method. Pensions The charity opèrates a defined contribution pension scheme and the pension char8e represents the amount payable by the charity to the fund In respect of the year. 13
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL5TATEMENTS FOR THEYEAR ENDING 310ECEMBER 2023 2. INCOME FORM DONATIONS AND LEGACIES Unrestrlcted funds 2023 Totsl Funds 2023 Total Funds 2022 Donations Similar Incoming resources 4,160 3,483 4,160 3,483 291 3,268 Total donations and legacles 7,643 7,643 3,559 INCOME FROM CHARITABLE ACTIVITIES Unrestyicted funds 2023 Restrirtèd Funds 2023 Total Funds 2023 Total Funds 2022 Army Museum Grant Nottingham City Council Other grants 29,686 29,686 22,305 29,686 29,686 22,305 INVESTMENT INCOME Unrestricted fuhds 2023 Total Funds 2023 Total Ftjnds 2022 Investment income 8,360 8,360 10,169 14
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COILECTIONI NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDING 31 DECEMBER2023 DIRECT COSTS Dlrect Costs Total 2023 Total 2022 OffSce costs other costs Depreclation Wages and Salarles Penslon cost5 622 5,560 1,778 27,971 465 36,396 622 5,560 1,778 27,971 465 36,396 825 7,842 1,951 24,127 518 35,266 GOVERNANCE COSTS Unrestrl¢ted Funds 2023 Total Funds 20Z3 Total Funds 2022 Independent examlnation 643 643 NEf INCOMEI{EXPENDITUREI This15 Stated after changing.. 2023 2022 Pension Costs 46S 518 During the year, no trustees received any remuF)eratlon12022- ENILI. During the year, no trustees received benefits in klnd12022- £NILI. During the year, no trustees received 3ny reimbursèment of expenses12Q22- £NILI. 15
THE MUSEUM OF THE MERCIAN REGIMENT {WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2023 STAFF COSTS Staff costs were as follows.. 2023 2022 Wages and Salarie5 27,971 24,127 Other Pension Cost5 465 28,436 518 24,645 The average number of persons employed by the charity durlng the year was a5 follows.. 2023 No. 2022 No. charltable activities No employee received remuneration amounting to more than £60,OfX) in either year. 16
THE MUSEUM OF THE MERCIAN REGIMENT IWORCE5TERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2022 CHARITY HERITAGE ASSETS Book/Medal Collettlon Total HistorStal cost At l January 2023 16,491 16,491 Additions In year At 31 December 2023 16,491 16.491 Heritage assets represent the regiment's collectior) of artefacts from Its formation In 1741 to the present day. 10. Tanglble assets Plant and Machinery Total Cost of valuatlon At I january 2023 Addition in the year Depreciation At 31 December 2023 18,966 18,966 18,966 18,966 Depreclation At l January 2023 Charge for the year At 31 December 2023 Carrying amount At 31 December 2023 At 31 December 2022 2,848 1,778 4,626 2,848 1,778 4,626 14,340 16,118 14,340 16,118 17
THE MUSEUM OF THE MERCIAN REGIMENT (WORCESTERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023 11. FIXED ASSET INVESTMENTS Llsted Securities At I january 2023 Additions Revaluations 541,037 86,241 At 31 December 2022 Historf¢al tost 627,278 330,161 Investments at market value comprlse: 2023 2022 Listed investments 627,278 627,278 541,037 541,037 All the fixed a55et Investments are held in the UK. 12. DEBTORS 2023 2022 Trade debtors PAYE Prepayment5 and accrLJed income 429 456 2,726 462 885 3,188 13. CREDITORS: AMOUNTS FALLING DUE WITH IN ONE YEAR 2023 2022 Trade Creditors Other taxatlon and social security other c¥editors Accruals and deferred income 120 60 600 780 600 600 18
THE MUSEUM OF THE MERCIAN REGIMENT IWORCESTERSHIRE & SHERWOOD FORESTERS COLLECTIONI NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDING 31 OECEMBER 2023 14. STATEMENT OF FUNDS STATEMENTOF FUNDS- CURRENT YEAR Balance at 31 December 2023 Balance at l January 2023 Resources EKpended Galn/ ILossesl Income Unrestrlcted funds General fund 589,179 45,689 137,0391 86,241 684,070 General funds are unrestricted funds whlch are available for use at the dlscretion of the trustees in furtherance of ihe general objectives of the charity and which have not been dÈsiÈnated for other purposes. The restricted funds are for the refurb15hment of the galleries. STATEMENTOF FUNDS- PRIOR YEAR Balance at 31 December 2022 Balance at I january 2022 Resources Expended Gain/ (Losses) Income Unrestricted funds General fund Total of funds 637,172 637,172 36,033 36,033 135,9091 135,9091 184,1171 184,1171 589,179 589,179 19
THE MUSEUM OF THE MERCIAN REGIMENT {WORCESfERSHIRE & SHERWOOD FORESTERS COLLECTION) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDING 31 DECEMBER 2022 15. ANALYSISOF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS~ CURRENT YEAR Unrestrirted funds 2023 Total Funds 2023 Fixed asset irbvestments Heritage assets Fixed assets Current assets CdItorS due within one year 627,278 16,491 14,340 26,741 17801 627,278 16,491 14,340 26,741 17801 684,070 684,070 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestrlcted funds 2022 Total Funds 2022 Fixed asset Investments Heritage assets Fixed assets Current assets Credit015 due within one year 541,037 16,491 16,118 16,133 16001 541,037 16,491 16,118 16,133 16001 589,179 589,179 16. PEN510N COMMITmEs The charity operates a deflned contriblttions pènslon schemè. The assets of the scheme are held separately from those of the charity In an Independently admlni5tered fund. The penslon cost charge represents contributions payable by the charity to the fund and amounted to £46512022 £5181. Contributlons totalllng £6012022 £nlll were payable to the fund at the balance sheet date. 17. RELATED PARTY TRANSAcfioNS These are no related party transactlons to dlsc105e. 20