2023-01-31-accounts

Annual Report and Financial Stat	ements	for the	year ended 31Jan	uary 2
CONTENTS				Page
Chairman's Introduction
Objectives and Activities
Charitable Purpose
Key Activities
Aims
Meeting the Aims and Objectives
Strategic Framework
Audience Development and Equality and Diversity
Measuring Our Success
Development Plans and Fundraising Strategy
Achievements, Performance and Public Benefit
Overview				5
Organisation wide activities				5
Equality and diversity				6
Preservation and conservation	ofthe collection			6
Preservation and conservation	ofthe Scheduled		Ancient Monument	7
Environmental				7
Education, Information and Interpretation				7
Community, audience and stakeholder		engagement		9
Workforce —volunteers and employees				10
Financial Review				10
Reserves Policy				11
Principal Funding Sources				11
Principal Risks and Uncertainties				12
Pay Policy forSenior Staff				12
Plans for Future Periods				13
Structure Governance and management				14
Relationship with Subsidiary Company				14
Recruitment and appointment ofTrustees				14
Reference and Administrative Details				15
Responsibilities ofthe Trustees				16
Independent Auditor's Report to the	Members			17
Consolidated Statement of Financial	Activities			21
Balance Sheets				22
Notes and Accounting Policies				23

strategic	frame	work for Wheal Martyn, adopted	work for Wheal Martyn, adopted	in early 2	022 is as follows:
Vision		Confident communities, inspiring		others
Mission		As we safeguard our heritage,	we provide		opportunities for everyone to be inspired
		by and learn from Cornwall's	important		china clay industry, helping	to create a
		stronger sense of place, pride		and confidence in our communities		to support
		ambitious, flourishing futures
Strategic	pillars
		For our community		- A place	at the heart ofour communities
		For our heritage		-Protect,	share and learn from our heritage
		For everyone		- A great	day out for everyone
		For our environment		—Protect	and connect with our environment
		For our future resilience		—Thrive for the future
		In partnership		-Working	together to achieve more
Values		Ambitious, Spirited; Authentic;	Collaborative; Adaptable; Welcoming

					Unrestricted Funds	Restricted Funds	Total 2023	Total 2022
				Note	6	6
Income
Donations					6,248		6,248	22,971
Income from charitable		activities			140,094	225,880	365,974	336,913
Investment income					5,429		5,429	2,502
Income from other Trading
Activities
Commercial trading					167,350		167,350	151,485
Other					10,342		10,342	16,029
Total income					329,463	225,880	555,343	529,900
Expenditure
Costs of raising funds:
Commercial Trading					134,597		134,597	125,378
Other					25,701		25,701	20,623
Charitable activities:
Museum					125,510	237,291	362,801	413,407
Education					41,840	3,947	45,787	34,278
Total expenditure					327,648	241,238	568,886	593,686
Net incomel (expenditure) the year before transfers			for		1,815	(15,358)	(13,543)	(63,786)
Transfers between funds					(12,137)	12,137
Net movements in	funds				(10,322)	(3,221)	(13,543)	(63,786)
Total funds brought	forward				158,780	1,457,311	1,616,091	1,679,877
Total funds carried	forward			18	148,458	1,454,090	1,602,548	1,616,091

31Januar	y	20	23
							2023		2022
							Group	Charity	Group	Charity
						Note	8		8	8
Fixed assets
Tangible assets						14	1,418,840	1,413,811	1,503,695	1,496,548
Investments						15		100		100
							1,418,840	1,413,911	1,503,695	1,496,648
Current assets
Stocks							25,347		21,381
Debtors						16	106,395	105,465	161,920	161,097
Cash at bank		and	in	hand			169,185	141,742	208,066	166,981
							300,927	247,207	391,367	328,078
Creditors: due within	amounts one year			falling		17	(99,952)	(99,934)	(254,304)	(244,314)
Net current		assets					200,975	147,273	137,063	83,764
Creditors: amounts due after more than one					falling year	18	(17,267)		(24,667)
Net assets							1,602,548	1,661,184	1,616,091	1,580,412
Funds
Restricted	funds					20	1,454,090	1,454,090	1,457,311	1,457,311
Unrestricted		funds				20	148,458	107,094	158,780	123,101
Total charity		funds					1,602,548	1,561,184	1,616,091	1,580,412

A summary	ofthe fina	ncial	performance	ofthe charity alone is	set out below	:
						2023		2022
						f		6
Income						415,061		390,415
Expenditure	on charitable		activities			434,289		468,308
Net income	I (expenditure)					19,228		77,893
Represented by:
Restricted	Funds					(3,221)		(111,331)
Unrestricted	Funds					16,007		33,438
Total funds	brought	forward				1,580,412		1,658,305
Total funds	carried forward					1,561,184		1,580,412
Represented by:
Restricted	funds					1,454,090		1,457,311
Unrestdcted	funds					107,094		123,101
						1 561,184		1,580,412
4 Income from Donations
				Unrestricted	Restricted
				Fundsf	Funds f. Total		2023 E	Total 2022 6
Donations				1,642			1,642	804
Job Retention Scheme								6,249
Covid Support Grants				4,000			4,000	15,393
Donation from Friends of Museum				606			606	525
				6,248			6,248	22,971

		Unrestricted	Restricted
		Funds	Fundsf	Total 2023 5	Total 2022 8
Admission Income		120,942		120,942	105,275
Gift Aid on Admissions		16,007		16,007	14,475
Grants
Cornwall County Council		3,145		3,145	19,383
Other Grants
Clay Works (Delivery)			93,523	93,523	10,559
Luxulyan Valley					3,958
CC Creative Investment	Fund		40,000	40,000
NPO Programme			90,857	90,857	85,267
Wolfson Development	Funds
Archive Covid Support			1,500	1,500	50,000
Covid Recovery Arts fund					47,996
		140,094	225,880	365,974	336,913

6	Investm	ent I	ncome
					Unrestricted	Restricted	Total	Total
					Funds 8	Funds F	2023f	2022 F
Bank	Interest				8		8
Rents	receivable				5,421		5,421	2,502
					5,429		5,429	2,502
7a	Income	from	Trading	Activities

a In	come fro	m Trading Activit	ies
			Unrestricted	Restricted	Total	Total
			Fundsf	Funds 6	2023 6	2022f
Commercial	Trading	Activities	167,350		167,350	151,485
Misc. Income/Events			7,755		7,755	15,927
Corporate	Sponsorship/Fundraising		2,587		2,587	102
Recharges
			177,692		177,692	167,514

			2023	2022
				6
Summary Profit	and Loss Account
Turnover			167,353	142,366
Cost ofsales			(54,729)	(48,664)
Gross profit			112,624	93,702
Administrative expenses			(91,342)	(87,823)
Other Operating	Income			9,119
Operating profit	/ (loss)		21,282	14,998
Interest Payable			(717)	(891)
Amount gifted to	the Charity		15,068
Profit / (loss) retained in the subsidiary			5,497	14,107
			2023	2022
			6	f
The assets and	liabilities of the subsidiary	were:
Tangible assets			5,031	7,146
Current assets			74,848	72,701
Creditors: amounts falling due within one year			(21,337)	(19,401)
Creditors: amounts falling due after more than		one year	(17,266)	(24,667)
Total net assets			41,276	35,779
Aggregate share	capital and reserves		41,276	35,779

Year ended 31 January	Year ended 31 January	2023
9a Costs ofcharitable		activities
					Total	Total
			Museumf	Education 6	2023 6	2022 E
Unrestricted Funds
Employee costs			74,225	24,741	98,966	77,256
Rent and water			2,960	987	3,947	2,059
Light and heat			2,780	927	3,707	1,911
Insurance			6,696	2,232	8,928	5,917
Repairs and maintenance			8,490	2,830	11,320	12,551
Equipment hire						883
Computer expenses			443	148	591	797
Postage and telephone			3,788	1,263	5,051	3,618
Printing and stationery			1,254	418	1,672	1,102
Bank interest and charges			3,689	1,230	4,919	4,281
Vehicle expenses			72	24	96	91
Travel and entertaining			128	44	172	220
Training and subscriptions			1,702	568	2,270	265
Depreciation			2,465	822	3,287	3,391
Support			10,800	3600	14,400	14,400
Governance			6,018	2006	8,024	8,326
Total Unrestricted Funds
			125,510	41,840	167,350	137,068
Restricted Funds
Museum Development	Fund		22,091		22,091	23,692
Clay Works			82,376		82,376	94,170
Historic England Covid	emergency
fund			89		89	2,285
NPO Programme			88,170		88,170	76,005
Archive Covid Support			34,218		34,218	14,992
Luxulyan Valley						11,638
ACE Covid Recovery Grant						49,502
Wolfson Covid-19 Support			10,127		10,127	38,246
Major Partner Museum	Programme					87
CC Creative Investment	Fund			3,947	3,947
Cultivator Cornwall			220		220
Total Restricted Funds			237,291	3,947	241,238	310,617
Total			362,801	45,787	408,588	447,685

Unrestricted	Unrestricted	Funds	Funds		Museumf	Education 6	Total 6
Costs					(125,510)	(41,840)	(167,350)
Admission	Income				136,949		136,949
Grants					3,145		3,145
Net Income		/ (Cost)
					14,584	(41,840)	(27,256)
Restricted		Funds
Costs					(237,291)	(3,947)	(241,238)
Grants					185,880	40,000	225,880
Net Income/(Costs)					(51,411)	36,053	(15,358)
Total Net	Income		/ (Cost)		(36,827)	(5,787)	(42,614)
10 Support and Governance				Costs
				Support	Governance	Total	Total
						2023	2022
					6	6	6
Audit fees					4,310	4,310	4,726
Head office		recharges		14,400	3,600	18,000	18,000
Trustees'	meetings				114	114
				14,400	8,024	22,424	22,726

This is st	ated after charging:
		2023	2022
		6	8
Depreciation		84,855	81,373
Auditor's	remuneration:
audit	ofthe financial statements	6,350	6,325
Operating	leases	4,353	3,452

2 Staff costs and emoluments Total staff costs were as follows:
	2023	2022
	F	6
Wages and salaries	244,336	230,032
Social security costs	14,804	12,738
Other staff costs (pensions)	10,070	6,824
	269,210	249,595

Year ended 31 January 2023	Year ended 31 January 2023
14(a) Tangible fixed assets —Group
		Long leasehold	Plant,	Tata I
		property	machinery,
			equipment
			6
Cost
At 1 February 2022		2,011,355	518,194	2,529,549
Additions
At 31January	2023	2,011,355	518,194	2,529,549
Depreciation
At 1 February 2022		589,187	436,667	1,025,854
Charge for the year		71,975	12,880	84,855
At 31 January	2023	661,162	449,547	1,110,709
Net book value At 31 January	2023	1,350,193	68,647	1,418,840
At 31 January 2022		1,422,168	81,527	1,503,695
14(b) Tangible fixed assets —Charity
		Long leasehold	Plant,	Total
		Property	machinery,
			equipment
			6
Cost
At 1 February 2022		2,011,355	487,323	2,498,678
Additions
At 31 January	2023	2,011,355	487,323	2,498,678
Depreciation
At 1 February 2022		589,187	412,943	1,002,130
Charge for the year		71,977	10,760	82,737
At31 January	2023	661,164	423,703	1,084,867
Net book value At 31January	2023	1,350,191	63,620	1,413,811
At 31 January 2022		1,422,168	74,380	1,496,548

							2023	2022
							E	E
Investment	in	subsidiary	at cost				100	100
16 Debtors
					Group	Charity	Group	Charity
					2023	2023	2022	2022
					E	E	E	E
Trade debtors					9,728	9,459	7,682	7,509
Amounts due		from subsidiary
Other debtors					4,545	4,545	5,275	5,275
Prepayments		and accrued income			92,122	91,461	148,963	148,313
					106,395	105,465	161,920	161,097
17 Creditors: amounts				falling due within one year
					Group	Charity	Group	Charity
					2023	2023	2022	2022
					E	E	E	E
Loan and	borrowings				21,800	14,400	157,400	150,000
Trade creditors					11,430	9,302	22,242	20,510
Amounts	due	to parent	undertaking		40,825	36,071	22,266	19,869
Amounts	due	to subsidiary				21,128		9,413
Other creditors					5719	5719	8,514	8,514
Taxation					604	604
Accruals	and	deferred	income		19,574	12,710	43,882	38,008
					99,952	99,934	254,304	244,314

		Group	Charity	Group	Charity
		2023	2023	2022	2022
Loans and borrowings	due after one year	E	E	E	E
Bank borrowings		17,267		24,667

Year ended 31Jan	uar	y 20	23
						Group	Charity	Group		Charity
						2023	2023	2022		2022
Loans and borrowings		due after		one year		E	E	E		E
Bank borrowings						17,267		24,667
						Group	Charity	Group		Charity
						2023	2023	2022		2022
Current loans and	borrowings					E	E	E		E
Bank borrowings						21,800	14,400	157,400		150,000
20 Analysis of	charitable		funds
Analysis of movements		in restricted			funds —Group and Company
			Balance at 1 February 2022			Incoming Resources	Outgoing Resources	Transfers	Balance at 31 January 2023
			E						E
Restricted funds
Museum development (restated)	fund				434,580		(22,091)			412,489
Clay Works (capital)				1,043,745			(57,357)			986,388
Clay Works (revenue)					(80,641)	93,523	(25,019)	17,831		5,694
Statues					664					664
Waterw heel					1,844					1,844
NPO programme					(2,405)	90,857	(88,170)	(5,694)		(5,412)
Cornwall Council Creative
Investment Grant						40,000	(3,947)			36,053
Historic England Covid-19 Emergency Fund					5,695		(89)			5,606
Wolfson Covid-1 9Support Fund					16,754		(10,127)			6,627
Archive Covid Support					35,008	1,500	(34,218)			2,290
MPM Project					2,067					2,067
Cultivator Cornwall							(220)			(220)
Total				1,457,311		225,880	(241,238)	12,137		1,454,090

Analysis of mov	ement in	unrestricted funds -Group
			2023	2022
Balance at 1 February			158,780	111,235
Income			329,463	332,120
Expenditure			(327,548	(283,069)
Transfer from/(to)	restricted	funds	(12,137)	(1,506)
Balance at 31 January			148,458	158,780

			2023	2022
Balance at 1 February			123,101	89,663
Income			189,181	192,635
Expenditure			(193,051)	(157,691)
Transfer from/(to)	restricted	funds	(12,137)	(1,506)
Balance at 31 January			107,094	123,101

		Unrestricted	Designated		Restricted	Total
		Funds	Funds		Funds	Funds
		E		E	E
Tangible	assets	19,964			1,398,876	1.418,840
Current	assets	231,048			59,879	300,927
Current	liabilities	(85,287)			(14,665)	(99,952)
Long term liabilities		(17,267)				(17,267)
		148,458			1,454,090	1,602,548

		Unrestricted	Designated		R	estricted	estricted	Total
		Funds	Funds		Fu		nds	Funds
		E		E			E	E
Tangible	assets	25,370					1,478,325	1,503,695
Current	assets	220,425					170,942	391,367
Current	liabilities	(62,348)					(191,956)	(254,304)
Long term liabilities		(24,667)						(24,667)
		158,780				1,457,311		1,616,091

t 31 January 2023 the company an ancellable operating leases:	d group had the following total	commitments	under n
2023	Land and Buildings f	Other f	Total E
Less than one year	1,851	1,253	3,104
Two to five years	7,404	262	7,666
More than five years	10,344		10,344
Total	19,599	1,515	21,114
2022	Land and Buildings	Other	Total
	6
Less than one year	1,476	2,502	3,978
Two to five years	5,904	1,428	7,332
More than five years	9,853		9,853
Total	17,233	3,930	21,163