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2022-12-31-accounts

THE BRUNEL MUSEUM

A Company Limited by Guarantee

Annual Report and Financial Statements For the Year Ended 31 December 2022

Registered Company Number 02488877 Charity Number 1003287

Company Number 02488877

The Brunel Museum

Page 1

Contents

Reference and Administrative Details.................................................................................................................... 3 Reference and Administrative Details.................................................................................................................... 3
Chair’s Report........................................................................................................................................................ 4
Trustees’ Report.................................................................................................................................................... 5
Independent Examiner’s Report............................................................................................................................. 9
Statement of Financial Activities........................................................................................................................... 10
Balance Sheet........................................................................................................................................................ 11
Notes to the Financial Statements....................................................................................................................... 12
1. General Information................................................................................................................................ 12
2. Principal Accounting Policies................................................................................................................... 12
3. Income From Charitable Activities......................................................................................................... 15
4. Project Income........................................................................................................................................ 15
5. Income from Other Trading Activities.................................................................................................... 15
6. Other Income.......................................................................................................................................... 15
7. Fundraising Costs.................................................................................................................................... 16
8. Charitable Activities Costs...................................................................................................................... 16
9. Support Costs.......................................................................................................................................... 16
10. Project Expenditure................................................................................................................................. 17
11. Trustees’ Remuneration.......................................................................................................................... 17
12. Staff Costs................................................................................................................................................ 17
13. Tangible Fixed Assets.............................................................................................................................. 17
14. Stocks...................................................................................................................................................... 18
15. Debtors................................................................................................................................................... 18
16. Creditors................................................................................................................................................. 18
17. Unrestricted Funds Analysis.................................................................................................................... 18
18. Restricted Fund Analysis......................................................................................................................... 19
19. Allocation of Net Assets Between Funds................................................................................................ 19
20. Pension Commitments............................................................................................................................ 20
21. Operating Lease Commitments.............................................................................................................. 20
22. Related Party Transactions...................................................................................................................... 20
23. Control.................................................................................................................................................... 20
24. Comparative Statement of Financial Activities........................................................................................ 21

Company Number 02488877

Page 2

The Brunel Museum

Reference and Administrative Details For the Year Ended 31 December 2022

Trustees K Adams
R A Davies
T G Grimwade
M C Heap
N A Mansell
M P Nolan
A J S Ross
F C Scott
D B Skelley
C N Smith
Secretary M P Nolan
Advisors E Bazalgette
J Elton
Charity Number 1003287
Company Number 02488877
Accredited Museum 1961
Registered Office Brunel Engine House
Railway Avenue
London
SE16 4LF
Independent Examiner Azets
2ndFloor, Regis House
45 King William Street
London
EC4R 9AN
Bankers HSBC
Redriff Road
London
SE16 7LL

Page 3

Company Number 02488877

The Brunel Museum

Chair’s Report For the Year Ended 31 December 2022

The Museum has continued to experience significant external factors which impact on visitor numbers and running costs. The outbreak of war in the Ukraine has impacted the global economy and although London is now emerging from under the shadow of the Covid pandemic since the last lockdown ended in December 2021 it is fair to say that re-adapting back to the way things were before the lockdown is far from over and visitor numbers to the capital are still significantly down on pre-Covid numbers and costs are rising at an unprecedented rate.

During my third year of Chairing the Board of Trustees I have seen how staff and volunteers (both Trustees and Museum operations) have reacted positively and enthusiastically to these challenges. We have nevertheless adopted a cautious approach to reopening to the public after lockdown restrictions ceased as we continue to balance the cost of employment and availability of volunteers against the expected footfall on any given day. Accordingly, the Museum is currently open on Friday, Sunday, and Monday from 1100-1700, with extended hours during school holidays. With this approach, the Museum has welcomed just over 5,000 visitors in 2022, a 17% increase over 2019 levels.

The necessarily restricted opening hours have been boosted with a new dynamism in other commercial activities. Our Arts Fund supported crowd funding for display cases for the Marc Brunel water colour collection achieved a 123% funding raising £22k against a target of £18.5k. I am very grateful to the wide range of funders who supported this initiative. Venue hire has been a notable success, thanks to our award-winning events co-ordinator, growing from strength to strength with over 500 enquiries and some 40 events from corporate events to weddings, from concerts to filming, and ultimately reaching around 3,500 people. I was particularly pleased to have engaged with U3A on a fascinating research project about the lives and living experiences of the people who built the tunnel almost 200 years ago.

Away from the operational part of the business, the Museum has strengthened and deepened is resilience at the oversight level with the recruitment of five new Trustees last year. During 2022 the Museum was governed and motivated by a total of 11 Trustees with a new and wider range of skills and some 500 years of combined experience.

I am making a personal life choice to retire to Europe and will be standing down as Chair of the Board of Trustees this year. I am confident that I am leaving the Museum on a sound post-Covid footing and with an excellent group of dependable, inspiring and truly collaborative Trustees, and a committed and responsible Director supported by her effective and first-rate staff and volunteers.

…………………………………………….

21 September 2023

M P Nolan FCG

Trustee and Secretary, on behalf of D B Skelley, Chair of Trustees

Company Number 02488877

Page 4

The Brunel Museum

Trustees’ Report

For the Year Ended 31 December 2022

The Board of Trustees hereby presents its annual report on the affairs of The Brunel Museum (“the Charity”) together with the independently examined financial statements for the year ended 31 December 2022.

Structure, Governance and Management Constitution

The Charity, registered number 1003287, is constituted as a company limited by guarantee, company number 2488877, and it is governed by its Memorandum and Articles of Association. The guarantee of individual members is limited to £5.

Trustees

The Trustees, who are also Directors for the purposes of the Companies Act 2006, who served during the year were –

Kathryn Adams Resigned 31 December 2022 Peronel Rosemary Craddock Resigned 23 June 2022 Richard Arthur Davies Tiffany Gabrielle Grimwade Michael Conrad Heap Nicholas Anthony Mansell Maureen Patricia Nolan (Secretary) Amy Jane Stockwell Ross Francis Caroline Scott Danielle Barbara Skelley (Chair) Cheryl Naomi Smith

No Trustee had any contract or arrangement of a material nature with the Charity during the year under review.

The Trustees are able to co-opt new Trustees and they do this to ensure that there is a balance of skills on the Board. New Trustees are provided with a set of relevant documents when they join (such as the governing documents, recent accounts, recent minutes and guidance from the Charity Commission about the role of a Trustee). The Secretary, Museum Director and the Treasurer alert the Trustees to any current developments as necessary at Board meetings.

Public Benefit

The Trustees have had regard to the guidelines issued by the Charity Commission relating to public benefit and are satisfied that the charity confers a public benefit. The Brunel Museum exists to educate the public in the works of Marc Brunel, Isambard Kingdom Brunel and Henry Marc Brunel, particularly the construction of the Thames Tunnel, the SS Great Eastern, Hungerford Bridge and Tower Bridge, as well as to preserve and enhance the Engine House and Grand Entrance Hall for the public benefit. It further acts to provide a recreational facility for local residents and for the public at large in Rotherhithe.

Organisational Structure

The policies and activities of the Charity are established and controlled by the Board of Trustees. The Board meets approximately monthly.

Company Number 02488877

The Brunel Museum

Page 5

Risk Management

The Charity’s objectives are subject to a range of risks that are kept under review by the Trustees. General risks include financial sustainability, over reliance on single partner income streams, staff retention and safety and security. Steps have been taken to mitigate these risks and the risk register is reviewed quarterly with a full review of all he risk undertaken annually by Trustees.

Objectives and Activities

This is London’s story of an engineering family that changed the world. The Charity’s objects are:

  1. To preserve and encourage the preservation for the public benefit of the Engine House and the Grand Entrance Hall situated in Rotherhithe Street, Greater London and the precincts thereof by such means as may be necessary;

  2. to educate the public in the appreciation of the engineering works of Marc and Isambard Brunel, particularly the construction of the Thames Tunnel, and to publish and catalogue, leaflet or other material in connection therewith; and

  3. to provide a recreational facility for local residents and for the public at large at Rotherhithe and, subject thereto, to generally enhance the surrounding conservation area.

The Trustees agreed statement of purpose:

“To preserve and share widely the ground-breaking stories of the Thames Tunnel project and the outstanding achievements of the Brunel family and their relevance to our lives today.

We inspire communities through exploration, learning and experience”.

Strategic Aims

We engaged and supported the local Community –

We ensured continued preservation of our listed building and scheduled monument –

We used our financial and non-financial resources to secure sustainability for the Museum -

Company Number 02488877

Page 6

The Brunel Museum

Financial Review

The Trustees are pleased with the improving financial position of the Charity, driven by increases in both visitor numbers and the ongoing success of the commercial activities, with both our Museum shop and venue hire delivering outstanding results during 2022.

The balance between maintaining the Museum opening hours with commercial opportunities for the site is one which is under constant review, with the Charity’s strategic aims being met through providing a sound financial footing from which the Museum can grow and develop.

The key fundraising event for 2022 was the award from the National Lottery Heritage Fund in respect of the Brunel Reinvented project. This project will significantly enhance the Museum site, with a new Welcome Pavilion together with a sympathetic restoration of the Engine House and provide a more welcoming and accessible experience for all our visitors. The project is expected to commence during late 2024, with completion in early 2025.

The Trustees are confident that the Charity is on the right path to financial sustainability.

Reserves Policy

Total reserves stand at £470,293, of which £337,106 are Restricted Funds designated by donors for specific purposes (see note 18 in these Accounts) and £60,308 (see note 17) are Reserves that have been designated by the Trustees. The remaining £72,878 are Unrestricted Funds that can be used at the Trustees entire discretion to deliver the Museum’s aims.

Of the Restricted funds, £164,703 is the value of the Brunel drawings and other artefacts which are shown in the accounts within fixed assets.

The Trustees have agreed a Reserves Policy, calculation of which is an integral part of the board’s strategic planning, forecasting and risk management. The Trustees consider it appropriate to maintain the following:

The level of reserves will be monitored and reviewed by the Trustees on at least an annual basis. Any substantial call on, or contribution to reserves will be reported to Trustees and reserves will be reviewed should there be any significant change in the environment in which the Museum operates.

Statement of Trustees’ Responsibilities

The Charity Trustees (who are also Directors for the purposes of The Companies Act 2006) are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law and the law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for that period. In preparing the financial statements the trustees are required to:

Company Number 02488877

The Brunel Museum

Page 7

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention any detection of fraud and other irregularities. This report has been prepared in accordance with the Accounting and Reporting by Charities Statement of Recommended Practice, and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

Signed on behalf of the Board by:

…………………………………………….

21 September 2023 M P Nolan Trustee and Secretary

Company Number 02488877

Page 8

The Brunel Museum

Independent Examiner’s Report

I report to the charity trustees on my examination of the accounts of the company for the period ended 31 December 2022 which are set out on pages 10 to 21.

Responsibilities and Basis of Report

As the charity 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 company’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

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am member of The Institute of Chartered Accountants in England and Wales.

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 that in any material respect:

  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 Howard (FCA) For and on behalf of Azets Audit Services Regis House 45 King William St London EC4R 9AN

Date: 26 September 2023

Company Number 02488877

Page 9

The Brunel Museum

Statement of Financial Activities

For the Year Ended 31 December 2022

Note
Income
Donations
Income from Charitable Activities
3
Income from Other Trading
5
Other Income
6
Total Income
Expenditure
Fundraising
7
Charitable Activities
8
Total Expenditure
Profit/(Loss) for the Year
Net Movement in Funds
Reconciliation of Funds
17-19
Funds Brought Forward
Transfers
Net Movement in the Year
Funds Carried Forward		 2022
Restricted
Unrestricted
Total
£
£
£
4,776
4,776
199,325
30,058
229,383
111,916
111,916
3,213
3,213
199,325
149,963
349,288
108,494
108,494
35,213
80,856
116,068
35,213
189,350
224,563
164,112
(39,387)
124,726
205,561
139,996
345,557
(32,567)
32,567
-
164,112
(39,387)
124,726
337,106
133,176
470,283		 2021
£
3,736
239,479
65,081
29,869
338,165
77,884
318,769
396,653
(58,488)
(58,488)
404,045
-
(58,488)
345,557

The Statement of Financial Activities includes all gains and losses recognised in the year.

All of the Charity’s activities derived from continuing operations during the above two financial periods. The Notes from Page 12 form part of these financial statements.

Company Number 02488877

Page 10

The Brunel Museum

Balance Sheet

As at 31 December 2022

Note
Fixed Assets
13
Current Assets
Stocks
14
Debtors
15
Cash
Total Current Assets
Creditors Falling Due Within One Year
16
Net Current Assets
Creditors Falling Due More Than One Year
16
Net Assets
19
Charity Funds
Unrestricted
17
Restricted
18
Total Charity Funds
19		 2022
£
187,356
979
28,336
321,394
350,709
(51,401)
299,308
(16,381)
470,283
133,176
337,106
470,283		 2021
£
192,193
9,513
33,221
172,617
215,351
(38,364)
176,985
(23,622)
345,557
139,996
205,561
345,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022,

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

The financial statements were approved by the Trustees and signed on their behalf by:

…………………………………………….

21 September 2023

M P Nolan

Trustee and Secretary

Company Number 02488877

The Brunel Museum

Page 11

Notes to the Financial Statements

1. General Information

The Brunel Museum (“the Charity”) is a company limited by guarantee. It operates in accordance with the Memorandum and Articles of Association adopted on 4 March 2017. If the charity is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. Its registered office and principal place of business is Brunel Engine House, Railway Avenue, London, SE16 4LF. The charity registration number is 1003287 and the company number is 2488877. The charity is incorporated in England and Wales.

2. Principal Accounting Policies

2.1. Basis of preparation

These accounts have been prepared for the year ended 31 December 2022.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or in the notes to these accounts.

The accounts have been prepared in accordance with “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 United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)”, ‘The financial reporting standard applicable in the UK and Republic of Ireland (‘FRS’ 102)’ and the Charities Act 2011.

The charity constitutes as public benefit entity as defined by FRS 102.

The accounts are presented in Sterling and are rounded to the nearest pound.

2.2. Critical Accounting Estimates and Areas of Judgement

There are currently no significant judgements and estimates made by the trustees in the preparation of the accounts.

2.3. Assessment of Going Concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

The financial statements have therefore been prepared on the going concern basis.

2.4. Cash Flow Statement

The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to produce such a statement under Accounting and Reporting by charities Statement of Recommended Practice (Charities SORP (FRS 102)).

2.5. Income Recognition

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

The following specific policies are applied to particular categories of income:

Company Number 02488877

Page 12

The Brunel Museum

Grants received for specific purposes are treated as restricted funds. Income is deferred when performance fees or grants are received in advance of the performance or event to which they relate.

2.6. Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, 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 included in the accounts on an accruals basis and includes attributable VAT which cannot be recovered.

Expenditure is allocated to the particular activity on a direct basis or by allocation based on the level of direct expenditure relating to that activity.

Expenditure comprises the following:

2.7. Tangible Fixed Assets

The trustees have determined that the additional benefit to members and other users of these accounts of researching the historic cost or of obtaining values for items in the Collection at 1 January 2001 does not justify the costs of such an exercise. Accordingly, items in the Collection are carried at nil cost unless they have been purchased by the charity since 1 January 2001.

Costs incurred in acquiring items for the collection are written off to the Statement of Financial Activities in the year of acquisition.

Other tangible assets are stated at cost. Depreciation is provided on tangible assets to write down their value over their estimated useful life. The following rates have been applied:

Collection No depreciation Brunel drawings No depreciation Fixtures and Fittings 10% - 20% straight line Office Equipment 25% straight line

2.8. Stock

Stock is held at the lower of cost and net realisable value.

Page 13

Company Number 02488877

The Brunel Museum

2.9. Debtors

Debtors are recognised at their settlement amount, less any provisions for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

2.10. Cash at Bank and in Hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisitions.

2.11. Creditors and Provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

2.12. Financial Instruments

The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

2.13. Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

2.14. Taxation

The Brunel Museum is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

2.15. Interest Income

Interest income is recognised in profit or loss using the effective interest method.

2.16. Borrowing Costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.17. Fund Accounting

Restricted funds funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes Designated funds funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects Unrestricted general funds funds which can be used in accordance with the charitable objects at the discretion of the trustees

Company Number 02488877

Page 14

The Brunel Museum

3. Income From Charitable Activities

2022
Restricted
Unrestricted
Total
£
£
£
Admissions
-
28,017
28,017
Group Visits
-
2,041
2,041
Project Income
199,325
-
199,325
Total
199,325
30,058
229,383
4.
Project Income
2022
£
Restricted Funds
Brunel Reinvented
153,837
Cultural Recovery Fund
34,788
Education
6,200
Museum of London Re-Set Grant
4,500
Total
199,325
5.
Income from Other Trading Activities
2022
£
Unrestricted Funds
Merchandise Sales
17,405
Digital Sales
3,613
Image Rights Licencing
31
Venue Hire
61,973
Third Party Event Income
28,894
Total
111,916
6.
Other Income
2022
£
Unrestricted Funds
Interest Income
406
Southwark Council COVID Grants
2,667
Insurance Claims
-
Other Income
140
Total
3,213		 2021
£
12,392
4,119
222,968
239,479
2021
£
94,128
128,840
-
-
222,968
2021
£
5,955
6,511
-
13,257
39,358
65,081
2021
£
-
16,288
13,581
-
29,869

Company Number 02488877

The Brunel Museum

Page 15

7. Fundraising Costs

Unrestricted Funds
Allocated Support Costs (Note 9)
Merchandise Purchases
Digital Sales Costs
Admission and Group Visit Costs
Venue Hire and Third Party Event Costs
Total		 2022
£
73,872
16,334
2,511
1,067
14,710
108,494		 2021
£
62,131
2,579
265
1,851
11,058
77,884

8. Charitable Activities Costs

Project Expenditure (Note 10)
Allocated Support Costs (Note 9)
Total
Accountancy
Independent Examination Costs
Total
Total		 2022
Restricted
Unrestricted
£
£
35,213
-
-
78,766
35,213
78,766
789
1,300
2,089
35,213
80,856		 2021
Restricted
Unrestricted
£
£
254,805
-
-
62,989
254,805
62,989
(225)
1,200
-
975
254,805
63,964

9. Support Costs

Staff Costs (Note 12)
Consultancy
Collection Costs
Premises Costs
General Office Expenses
PR and Marketing
Insurance
Repairs and Maintenance
Printing and Stationery
Subscriptions
Travel Costs
Bank Charges
Interest Payable
Irrecoverable VAT
Depreciation
Total		 2022
Fundraising
(Note 7)
Charitable
Activities
(Note 8)
Total
£
£
£
51,885
51,885
103,770
-
2,975
2,975
-
529
529
7,285
7,285
14,570
2,088
2,088
4,176
2,402
4,813
7,215
2,242
2,242
4,484
591
591
1,182
158
158
316
730
730
1,460
87
87
174
563
225
788
681
-
681
2,784
2,784
5,568
2,375
2,375
4,750
73,872
78,766
152,638		 2021
£
94,196
700
500
11,546
1,918
2,266
4,404
654
354
336
90
374
342
890
6,550
125,120

Company Number 02488877

Page 16

The Brunel Museum

10. Project Expenditure

Brunel Reinvented
Cultural Recovery Fund
Education
Museum of London Re-Set Grant
Total		 2022
£
24,608
10,373
-
232
35,213		 2021
£
100,873
153,932
-
-
254,805

11. Trustees’ Remuneration

There were no expense reimbursement payments during the year ended 31 December 2022 or the prior year.

12. Staff Costs

Wages and Salaries
Social Security Costs
Other Pension Costs
Other Staff Costs
Total		 2022
£
102,667
2,040
1,669
4,162
110,538		 2021
£
111,392
5,943
2,387
12,105
131,827

£6,758 of staff costs are included in Project Costs (2021 - £37,630)

The average number of employees during the year was 4.5 (2021 – 4.5)

No employees received emoluments in excess of £60,000

13. Tangible Fixed Assets

Cost
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the Year
At 31 December 2022
Net Book Value
At 31 December 2022
At 31 December 2021		 Collection
Fixtures
& Fittings
Equipment
Museum
Staging &
Equipment
£
£
£
£
171,711
35,596
19,323
9,586
-
174
1,162
-		 Total
£
236,216
1,336
171,711
35,770
20,485
9,586		 237,552
4,583
19,105
10,749
9,586
-
2,319
3,854
-		 44,023
6,173
4,583
21,424
14,603
9,586		 50,196
167,128
14,346
5,882
-		 187,356
167,128
16,491
8,574
-		 192,193

Company Number 02488877

The Brunel Museum

Page 17

14. Stocks
2022 2021
£ £
Goods for Resale 979 9,513
15. Debtors
2022 2021
£ £
Trade Debtors 23,355 6,267
Accrued Income - 20,453
Other Debtors 4,982 6,502
Total 28,336 33,222
16. Creditors
2022 2021
£ £
Trade Creditors 9,312 13,180
Social Security and Other Taxes 8,811 2,019
Accruals and Deferred Income 20,997 15,156
Other Creditors 5,040 1,449
Loans – due within one year 7,241 6,560
Amounts due within one year 51,401 38,364
Loans – due more than one year 16,381 23,622
Total 67,782 61,986
17. Unrestricted Funds Analysis
At 1 At 31
January December
2022 Income Expenditure
Transfers		 2022
£ £ £
£		 £
Continuation Fund 28,042 - -
(2,247)		 25,795
Partnership Funding 31,513 - -
-		 31,513
Closure Fund 3,000 - -
-		 3,000
General Fund 77,441 149,963 (189,350) 34,814 72,868
Total 139,996 149,963 (189,350)
32,567		 133,176

During the year transfers totalling £32,567 were made from Restricted to Unrestricted Funds (2021 - £87,814 from Restricted to Unrestricted Funds).

Prior Year -
Continuation Fund
Partnership Funding
Closure Fund
General Fund
Total		 At 1
January
2021
Income
Expenditure
Transfers
At 31
December
2021
£
£
£
£
£
13,515
-
-
14,527
28,042
22,263
-
-
9,250
31,513
3,000
-
-
-
3,000
40,055
115,197
(141,848)
64,037
77,441
78,833
115,197
(141,848)
87,814
139,996

Company Number 02488877

Page 18

The Brunel Museum

18. Restricted Fund Analysis

Brunel Drawings Fund
Brunel Photograph Fund
Project Grants –
Conservation
Education
Playscheme
Brunel Reinvented
Cultural Recovery Fund
Museum of London Re-Set
Total
Prior Year -
Brunel Drawings Fund
Brunel Photograph Fund
Project Grants –
Conservation
Education
Playscheme
Brunel Reinvented
Cultural Recovery Fund
Total		 At 1
January
2022
Income
Expenditure
Transfers
At 31
December
2022
£
£
£
£
£
160,000
-
-
-
160,000
4,073
-
-
-
4,073
5,365
-
-
-
5,365
3,556
6,200
-
-
9,756
214
-
-
(214)
-
24,415
153,837
(24,608)
153,644
7,938
34,788
(10,373)
(32,353)
-
-
4,500
(232)
-
4,268
205,561
199,325
(35,213)
(32,567)
337,106
At 1
January
2021
Income
Expenditure
Transfers
At 31
December
2021
£
£
£
£
£
160,000
-
-
-
160,000
4,073
-
-
-
4,073
5,365
-
-
-
5,365
3,556
-
-
-
3,556
214
-
-
-
214
11,410
94,128
(100,873)
19,750
24,415
140,594
128,840
(153,932)
(107,564)
7,938
325,212
222,968
(254,805)
(87,814)
205,561

19. Allocation of Net Assets Between Funds

Tangible Fixed Assets
Current Assets
Current Liabilities
Non-Current Liabilities
Total
Prior Year –
Tangible Fixed Assets
Current Assets
Current Liabilities
Non-Current Liabilities
Total		 2022
Restricted
Unrestricted
Total
£
£
£
164,073
23,283
187,356
173,033
177,675
350,709
-
(44,160)
(44,160)
-
(23,622)
(23,622)
337,106
133,176
470,283
2021
Restricted
Unrestricted
Total
£
£
£
164,073
28,120
192,193
41,488
173,862
215,350
-
(31,804)
(31,804)
-
(30,182)
(30,182)
205,561
139,996
345,557

Company Number 02488877

Page 19

The Brunel Museum

20. Pension Commitments

The pension cost charge for the year is £1,669 (2021 - £1,817) from Unrestricted Funds and £nil (2021 - £570) from Restricted Funds. Contributions totalling £448 (2021 - £399) were payable at the year end.

21. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases for Land and Buildings are as follows –

are as follows –
Within one year
In the second to fifth years inclusive
After five years
Total		 2022
£
1,000
4,000
62,500
67,500		 2021
£
-
-
-
-

22. Related Party Transactions

There were no related party transactions during the year ended 31 December 2022 or the prior year.

23. Control

The Charity is considered to have no single controlling party.

Company Number 02488877

Page 20

The Brunel Museum

24. Comparative Statement of Financial Activities

Note
Income
Donations
Income from Charitable
Activities
3
Income from Other Trading
5
Other Income
6
Total Income
Expenditure
Fundraising
7
Charitable Activities
8
Total Expenditure
Profit/(Loss) for the Year
Net Movement in Funds
Reconciliation of Funds
17-19
Funds Brought Forward
Transfers
Net Movement in the Year
Funds Carried Forward		 2021
Restricted
Unrestricted
Total
£
£
£
-
3,736
3,736
222,968
16,511
239,479
-
65,081
65,081
-
29,869
29,869
222,968
115,197
338,165
-
77,884
77,884
254,805
63,964
318,769
254,805
141,848
396,653
(31,837)
(26,651)
(58,488)
(31,837)
(26,651)
(58,488)
325,212
78,833
404,045
(87,814)
87,814
-
(31,837)
(26,651)
(58,488)
205,561
139,996
345,557

Company Number 02488877

Page 21

The Brunel Museum