2022-03-31-accounts - Thackray Medical Museum Company Limited

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ANNUAL REPORT
OBJECTIVES AND ACTIVITIES..
ACHIEVEMENTS AND PERFORMANCE
GOING CONCERN AND PLANS FOR FUTURE PERIODS, INCLUDING	POST BALANCE SHEET EVENTS 15
STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION		17
FINANCIAL REPORT		21
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE FINANCIAL	STATEMENTS .....	....22
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE THACKRAY MEDICAL MUSEUM
COMPANY LIMITED		23
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE 15	MONTHS ENDED 31MARCH	2022
		27
BALANCE SHEETS AT31MARCH 2022		28

STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION	STRUCTURE, GOVERNANCE, REFERENCE AND ADMINISTRATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITSTRUSTEES AND
ADVISORS		FOR THE PERIOD ENDED 31 MARCH 2022
Trustees			Neil Kaiper-Holmes (Chairman)
			Michelle Barry (appointed		18October	2022)
			Steven Clegg (resigned 20 July 2021)
			Martin Dixon (appointed	18October 2022)
			Samuel Dixon (appointed	8 February 2022)
			Andrew Fotherby (resigned		20 July 2021)
			Nicole Fowler (appointed	18October 2021)
			Hannah Fox (appointed	18October 2021)
			Mark Goldstone (resigned		17October	2022)
			Aidan Hindley (appointed	18October 2021)
			David Hopes (appointed	18October 2021)
			Dean Jowett (resigned 21		October 2021)
			Atia Khan (appointed 18	October 2021)
			Philip Quirke (resigned 20		April 2021)
			Nosober Latif
			Sharon Heal
			Simon Kay
			Joanna Norry
Company	registered		02772412
number
Charity registered number			1016169
Registered		office	Beckett Street
			Leeds
			LS97LN
Company	Secretary		Rachael Palmer
Interim Co-Chief Executive			Sue Mackay and Rachael		Palmer
Officers
Independent		Auditor	Saffery Champness LLP
			Mitre House
			North Park Road
			Harrogate
			HG1 5RX
, rir,cipai	ankers		Virgin Money Pic (formerly		Yor' shire	ank, Plc)
			94-96 Briggate
			Leeds
			LS1 6NP

Governing	document,		objects and activities	objects and activities	~	Explain the Museum's purpose and the	Explain the Museum's purpose and the
for public	benefit					strategies adopted to achieve it;
The charity's governing			documents	and	~	Report on the Museum's activities and provide a clear statement of the benefits
objects are set out in the structure				section		received by the public from those	activities
above. These objects		are achieved		by the		having been undertaken;
operation	ofa Museum		and a resource centre,		~	Show that activities always balance the
giving access to the collection and				supporting		potential detriment to the Museum	or its
the study	ofthe history		ofmedicine.			collection with the potential benefit to the
						public.
With reference to the charitable requirement
that there	are identifiable		benefits,	the
Chairman's	Statement	and Review		of Museum	Independent Auditors
Activities:					Saffery Champness have expressed		their
					willingness to remain in office as auditors.

		Unrestricted	Unrestricted	Designated	Restricted	Total funds	Total funds
		Note	funds	funds	funds	2022	2020
Income from:
Donations legacies	and		243,630		22,940	266,570	465,896
Charitable activities			934,342		13,183	947,525	1,393,419
Other trading			426,955			426,955	102,198
activities
Other			111,767			111,767	119,772
Total			1,716,694		36,123	1,?52,817	2,081,285
Expenditure		on:
Raising funds		7	116,530		41,247	157,777	31,215
Charitable activities		8	1,522,837		415,639	1,938,476	1,172,704
Other expenditure			9,253		44,851	53,104	35,881
Total			1,648,620		501,737	2,150,357	1,239,800
Net			68,074		(465,614)	(397,540)	841,485
income/(expenditure)
Transfers	between		19,929	(52,517)	32,588
funds		19
Net movement funds		in		(52,517)	(433,026)	(397,540)	841,485
		Reconciliation	offunds:
Total funds forward	brought		160,784	553,331	5,413,711	6,127,826	5,286,341
Total funds carried		18, 19	248,78?	500,814	4,980,685	5,730,286	6,127,826
forward

ALANCE SH	EET	S	AT 31 M	ARCH 202	2	2
					Group		Charity
				Note	31 March	31	31 March	31
					2022	December	2022	December
						2020		2020
						F		F
Fixed assets
Tangible: Museum				12	4,871,217	5,204,068	4,869,707	5,204,059
buildings and	displays
Tangible: Other				12	318,689	150,619	246,805	86,921
Investments				14			2	2
Total fixed assets					5,189,906	5,354,687	5,116,514	5,290,982
Current assets
Stocks				15	20,582	8,265
Debtors				16	485,178	844,275	626,806	957,939
Cash at bank	and	in	hand		480,629	1,061,702	407,110	1,035,205
Total current	assets				986,389	1,914,242	1,033,916	1,993,144
Creditors: Amounts			falling	17	(311,747)	(937,399)	(301,091)	(909,986)
due within one year
Net current	assets				674,642	976,843	732,825	1,083,158
Total assets liabilities	less	current			5,864,548	6,331,530	5,849,339	6,364,140
Liabilities: Amounts falling due in more than one year				17	(134,262)	(203,704)	(134,262)	(203,704)
Net Assets					5,730,286	6,127,826	5,715,077	6,170,436
The funds ofthe		charity:
Unrestricted	income		funds	19	749,601	714,115	734,392	756,725
Restricted funds				18	4,980,685	5,413,711	4,980,685	5,413,711
Total funds					5,730,286	6,127,826	5,715,077	6,170,436

					Group	Group	Charity	Charity
				Note	16months	12months	15months	12months
					ended 31	ended 31	ended 31		ended 31
						December	March	December
					2022	2020	2022		2020
					F	E			E
Cash flows from operating	activities:
Net cash generated by operating			activities	24	(209,292)	2,823,343	(285,625)		2,782,987
Cash flows from investing	activities:
Interest income					235	251	235		251
Purchase oftangible fixed assets					(311,831)	(2,217,751)	(282,520)	(2,155,533)
Net cash provided by investing		activities			(311,596)	(2,217,500)	(282,285)	(2,165,282)
Cash flows from financing	activities:
(Repayment of CBIL)/Proceeds			from CBIL		(60,185)	250,000	(60,185)		250,000
Net cash (used)/provided	by	financing
activities					(60,186)	250,000	(60,185)		260,000
Increase/(decrease) in cash and cash
equivalents in the year					(581,073)	855,843	(628„095)		877,705
Cash and cash equivalents	at		the
beginning ofthe year					1,061,702	205,859	1,036,206		157,600
Cash and cash equivalents	at		the end
ofthe year					480,629	1,061,702	407,110	1,035,206
Reconciliation ofnet debt			Cash	Gf'oup Debt	Net Cash/	Cash	Charity Debt	Net Cash/
			E		(Debt)		E		(Debt)
									E
Balance brought forward at 1"January 2021		1,051,702		(250,000)	811,702	1,035,206	(260,000)	786,206
Repayment ofCBIL				60,185	60,185		60,185		60,185
Cash used Balance carried forward at 31"March 2022		(581,073) 480,629		(189,815)	(581,073) 290,814	(628,095) 407,110	(189,816)	(628,095) 217,295

Leasehold	land and buildings	land and buildings		Over the lease period
A Healthy	Future	Building Infrastructure		15—20years
Museum	displays			5 —10years
Fixtures,	fittings	and computer	equipment	4 —5years

Comparative SOFA in	formation
		Unrestricted	Designated	Restricted	2020 Total
		General	Fundsf	Funds E	Funds E
Income and endowments	from:
Donations and legacies		403,153		62,743	465,896
Charitable activities		964,340		429,079	1,393,419
Other trading		102,198			102,198
Other		119,772			119,772
Total		1,589,463		491,822	2,081,285
Expenditure on:
Raising funds		31,215			31,215
Charitable activities		830,512		342,192	1,172,704
Other				35,881	35,881
Total		861,727		378,073	1,239,800
Net Income		727,736		113,749	841,485
Transfers between funds		(572,572)	552,330	20,242
Net movement in funds		155,164	552,330	133,991	841,485
Reconciliation in funds:
Total funds brought foward		5,620	1,001	5,279,720	5,286,341
Total funds carried forward		160,784	553,331	5,413,711	6,127,826

						Unrestricted	Restricted	Restricted	15months	15months	12months	12months
						Funds		Funds	to 31	Nlarch	to	31
										2022	Decemb
										E	2020
	The Thackray Medical Research Trust:
	Research resource grant					206,250			206,250		165,000
	Additional revenue grant										50,000
	Collections management		system					14,840		14,840	21,096
	COVID support grant										188,110
	Friends ofthe Thackray	Medical			Museum:
	Donation towards A Healthy			Future							10,000
	Friends & Patrons Memberships					4,128				4,128
	Other donations towards	A	Healthy Future					8,100		8,100	31,647
	Other awards					33,252				33,252		43
	Total income from donations legacies				and	243,630		22,940	266,570		465,896
4	Income from charitable			activities
						Unrestricted	Restricted	15	months	12	months
						Funds	Funds		to 31		to 31
						E	F		INarch	December
									2022		2020
									E		E
Grants receivable:
	Arts Council England					508,702			508,702		590,652
	The Thackray Medical Research										181,890
	National Lottery Heritage		Fund				4,000		4,000		325,200
	Wolfson Foundation										120,000
	Garfield Weston Foundation					50,000			50,000		30,000
	Scurrah Wainwright					5,000			5,000
	Wades Charity					5,000			5,000
	Arnold Burton Trust										10,000
	Esmee Fairbairn										23,414
	University ofLeeds						8,333		8,333
	Government CJRS grant					44,120			44,120		91,794
	Government CBILinterest		grant			6,150			6,150		4,100
	Other										9,175
Admission income						314,370			314,370		7,194
Other income						1,000	850		1,850
Total income from charitable activities						934,342	13,183		947,525	1,393,419

				15months to	12months to
				31 March	31 December
				2022	2020
Turnover				426,955	102,198
Cost ofsales and		administrative	costs	(369,133)	(176,592)
Operating	profit			57,820	(74,394)
Interest receivable
Gift aid obligation		and donations	to the charity
Retained	in subsidiary			57,820	(74,394)
Balance	Sheet
Assets				200,223	112,540
Liabilities				(185,014)	(155,153)
Funds				15,209	(42,613)

Other	Income
		Unrestricted	Restricted	15months to	12months to
		Funds	Funds	31 March	31 December
		E		2022	2020
				F	E
Bank interest receivable		235		235	251
Event and	sundry income	32,752		32,752	12,950
Income from disposal ofassets		2,000		2,000
Museums	and Galleries Tax Relief	76,780		76,780	106,571
Total other income		111,767		111,767	119,772

				Unrestricted	Unrestricted	Unrestricted	Restricted	Restricted	15months to	15months to	12	months to
					Funds			Funds		31 March	31	December
						E		E		2022		2020
												F
Trading company	expenditure				62,038					62,038		17,408
Raising public awareness			ofthe		54,492			41,247		95,739		13,807
Museum
Total expenditure funds	on	raising			116,530			41,247		157,777		31,215
8 Analysis ofexpenditure on charitable					activities
			15months to		31 March		2022		12months to 31 December 2020
			General E	Designated		f	Restricted		General	Designated	E	Restricted
Salaries, national
insurance and			905,988						583,1i8
pension costs
Related staff costs			15,894						9,331
Other office costs			89,390						43,989
Professional services			21,238						27,782
Insurance			45,686						33,563
Utility services and			61,561						24,762
supplies
Operation of			197,200						44,651
Museum building
Temporary
Depreciation of			53,347				377,552		11,800			27,664
assets
Academic, education			67,215				38,087		8,127			27,073
and access
Event costs			2,368						1,479
Collection			37,179						'14,604			1,013
maintenance
Capital development												286,442
costs
Governance costs			28,919						23,206
Interest Payable			6,105						4,100
Sub-total expenditure on		1,632,090					416,639		830,612			342,192
chariiabie activities
Depreciation of							44,851					35,881
Museum Building
Total expenditure		1,532,090					460,490		830,612			378,0?3
on charitable
activities
Grand Total							1,992,580					1,208,585

Analysis of	governance and su	pport costs
		General	Governance	15months to	12months to
		support		31 March	31 December
		E		2022	2020
				F	E
Legal and other		3,885		3,885	1,206
Trustee meetings	and expenses		284	284
Audit and related	services		24,750	24,750	22,000
Total		3,885	25,034	28,919	23,206

0 Net	income/(expenditure) for the year
		15months to	12months to 31
		31 March	December 2020
		2022
		F
This is stated after charging:
Depreciation		475,750	88,966
Auditor's	remuneration:
Audit	tees	l4,950	14,700
Non-audit fees		7,050	7,300
Other	audit fees	2,750

management pe	rsonnel
Staff costs				15months to	12months to 31
				31 March	December 2020
				2022	F
Wages and salaries	(including	temporary	assignments)	819,754	527,357
Social security costs				63,592	39,997
Pension costs				22,642	15,765
Total staff costs				905,988	583,119

Trustee	remuneration	and	expenses	15	months to	12months to 31
					31 March	December 2020
					2022	F

Remuneration
Travel and subsistence expenses		paid to 0 (2020:0)
Trustees during the year
Total Trustee remuneration	and	expenses

nalysed	by fu	nction,	was:
					15months to	12months to
					31 March 2022	31 December
						2020
Museum	and	trading	activities		22	16
Management		and administration		of charity	4	4
Trustees/directors"					12	10
					38	30

"Trustees are not rem 12 Tangible fixed Group:	unerated. assets
	Long	A Healthy	Museum	Fittings	Total
	leasehold	Future Building	displays	and
	land and	Improvements		computer
	buildings	/infrastructure		equipment
At 1'"January 2021	2,825,604	2,249,325	1,083,030	265,142	6,423,101
Additions		15,619	22,516	273,696	311,831
Transfer			1,500	(1,500)
Disposals			(66,101)	(45,975)	(112,076)
At31"March 2022	2,825,604	2,264,944	1,040,945	491,363	6,622,856
Depreciation:
At 1"January 2021	850,060		103,831	114,523	1,068,414
Charge for year	44,851	188,745	138,028	104,126	475,750
Disposals			(65,239)	(45,975)	(111,214)
At31"March 2022	894,911	188,745	176,620	172,674	1,432,950
Net book value:
At31"March 2022	1,930,693	2,076,199	864,325	318,689	5,189,906
At 31"December 2020	1,975,544	2,249,325	979,199	150,619	5,354,687
Analysis of net book
value:
Restricted assets	1,930,693	2,076,199	847,074	98,366	4,952,332
Unrestricted assets			17,251	220,323	237,574
Total	1,930,693	2,076,199	864,325	318„689	5„189,906

Charity:
		Long	A Healthy	Museum	Fittings	Total
		leasehold	Future Building	displays	and
		land and	Improvements		computer
		buildings	/infrastructure		equipment
Cost:
At 1"January	2021	2,825,604	2,249,325	1,083,030	199,108	6,357,067
Additions			15,619	22,516	244,385	282,520
Transfer
Disposals At 31"March	2022	2,825,604	2,264,944	66,102 1,039,444	44,889 398,604	110,991 6,528,596
Depreciation:
At 1"January	2021	850,060		103,840	112,187	1,066,087
Charge for year		44,851	188,745	138,028	84,501	456,125
Disposals				65,238	44,889	110,127
At 31"March	2022	894,911	188,745	176,630	151,799	1,412,085
Net book value:
At31"March	2022	1,930,693	2,076,199	862,815	246,805	5,116,512
At 31"December 2020		1,975,544	2,249,325	979,190	86,921
Analysis of net book
value:
Restricted assets		1,930,693	2,076,199	845,564	45,222	4,897,678
Unrestricted assets				17,251	201,583	218,834
Total		1,930,693	2,076,199	862,815	246,805	5,116,512

			Group	Group	Charity	Charity
			2022	2020	2022	2020
			E	E	E
Goods for resale			20,582	8,265
16 Debtors
			Group	Group	Charity	Charity
			2022	2020	2022	2020
				E		E
Amounts	falling due within one year:
Debtors	in the	ordinary course of	33,536	43,810	14,963	33,750
activities
Prepayments		and accrued income	427,531	719,044	413,375	715,035
HMRC VAT Debtor				79,472		79,472
Gift aid	recoverable		18,531	1,949	18,531	1,949
Amount	owed	by subsidiary			174,357	127,733
Other Debtors			5,580		5,580
			485,178	844,275	626,806	957,939

ebtors (continued .. ccrued Income	.)
							Group	Group	Charity	Charity
							2022	2020	2022	2020
							E	E	F	f
							686,576	2,016,541	683,188	2,016,541
Balance b/f
Amounts released to income earned						from
charitable activities:
National Lottery	Heritage		Fund				(248,719)	(1,090,800)	(248,719)	(1,090,800)
Wellcome Trust								(510,124)		(510,124)
TMRT —additional		revenue			grant		(12,500)		(12,500)
Museums and Galleries Tax Relief							(106,571)		(106,571)
Other							(7,288)	(30,000)	(3,900)	(30,000)
Amounts accrued in year:
National Lottery	Heritage		Fund					174,600		174,600
Wellcome Trust
TMRT —CMS							6,960	12,500	6,960	12,500
HMRC Museum	8	Gallery		tax		relief		106,571		106,571
Other							14,103	7,288		3;900
							332,561	686,576	319,243	683,188
Balance c/f
7 Creditors
Creditors & 1year
							Group	Group	Charity	Charity
							2022	2020	2022	2020
Amounts falling due within one				year:
Creditors in the ordinary		course		of activities			74,253	589,429	67,427	586,775
Taxation and social security							10,732	11,285	10,732	11,285
VAT Creditor							18,327		18,327
Accruals and deferred	income						'I52,771	286,508	148,940	261,746
Other creditors							108	3,884	109	3,884
Coronavirus Business	Interruption					Loan	55,556	46,296	55,556	46,296
							311,747	937,402	301,091	909,986

					Group	Group	Charity	Charity
					2022	2020	2022	2020
								E
Balance b/f					70,718	95,659	53,048	95,659
Amounts released		in	year:
Thackray Medical Research Arts Council England Other				Trust	(53,048) (17,670)	(41,250) (54,409)	(53,048)	(41,250) (54,409)
Amounts accrued		in year:
Thackray	Medical		Research	Trust
Arts Council England Other					1,600	53,048 17,670		53,048
Balance c/f					1,600	70,718		53,048
Creditors & 1	year
					Group	Group	Charity	Charity
					2022	2020	2022	2020
						E		F
Coronavirus	Business		Interruption	Loan	134,262	203,704	134,262	203,704
					134,262	203,704	134,262	203,704

18 Analysis ofcharita	18 Analysis ofcharita	ble funds	ble funds
Analysis of movements		in restricted		funds
Group	and charity
					Balance	Incoming	Outgoing	Transfers	Balance
				1	January 2021	Resources	Resources		31 March 2022
Establishment ofthe		Museum:
Ashley Wing conversion				1,975,544			(44,851)		1,930,693
Specific projects:
The Thackray Medical		Research
Trust
(a)	Collection management				21,894	14,840	(19,547)		17,187
	system
(b)	Fire alarm system				31,901		(15,231)	1,023	17,693
Other
(c)	Downs Collection				100				100
(d)	Wilkinson Gallery				321				321
(e)	Development Oxford Knee Archive				6,936				6,936
(f)	Friends' Contribution		to		1,700				1,700
	Legacy Marketing
(g)	ACE MRF Close				18,405		(17,123)	(1,082)	200
	Connections Audience
(h)	Development MDY GIS Space				23,279		(12,500)	960	11,739
(i)	A Healthy Future	capitai			40,152	8, 'I 00	(65,498)	17,246
	project
(j)	A Healthy Future	capital		3,191,756			(293,316)	8,079	2,906,519
	project —capitalised		costs
(k)	The Nerve Centre				5,008		(2,012)	(2,996)
(I)	The Nerve Centre-				69,992		(7,160)	9,533	72,365
	capitalised costs
(m)	Acquisitions Fund				989	850	(558)		1,281
(n)	Esmee Fairbairn	Sustaining			15,734		(14,802)	(175)	757
	Engagement
(o)	The Monty Lozsowsky				10,000		(1,000)		9,000
	Memorial Prize sponsored			by
	One Medical
(p)	Can Robots Care in					8,333	(8,139)		194
	partnership with	the
	University of Leeds
(q)	National Lottery	Heritage				4,000			4,000
	Fund: Heritage Trade Up
	Grant
					5,413,711	36,123	(501,737)	32,588	4,980,685

9 Anal	ysis of	group m	ovements in unr	estricted fund	s
			Balance	Incoming	Resources	Transfers	Funds
			1January	resources	expended		31 March
			2021				2022
			F				E
General	fund		160,784	1,716,694	(1,648,620)	19,929	248,787
Museum	development
and maintenance		fund	1,001				1,001
Museum	COVID		552,330			(52,517)	499,813
resilience	fund
			714,115	1,716,694	(1,648,620)	(32,588)	749,601

nalysis of	group	as	sets between fu	nds 31 March 2022
				Tangible	Bank	Other	31 March
				Fixed	balances	net assets	2022
				Assets			Total
							f
Restricted	Funds			4,952,332	(226,085)	254,438	4,980,685
Unrestricted	funds	-	General	237,574	205,900	(194,687)	248,787
		-	Designated		500,814		500,814
Total				5,189,906	480,629	59,751	5,730,286

nalysis of	group	as	sets between fun	ds 31 December 2	020
				Tangible	Bank	Other	31
				Fixed	balances	net current	December
				Assets		assets	2020
				F		E	Total
							E
Restricted	Funds			5,329,975	90,742	(7,006)	5,413,711
Unrestricted	funds	-	General	24,712	417,629	(281,557)	160,784
		-	Designated		553,331		553,331
Total				5,354,687	1,061,702	(288,563)	6,127,826

5 Capital	and other commitme	nts	nts
		Group			Charity
		15months	12	months to	15months	12	months to
		to 31 March	31	December	to 31 March	31	December
		2022		2020	2022		2020
		F			F
Contracted	for but not provided
in the financial statements		70,704			70,704

		Group		Charity	Charity
		15months to	12months to	15months	12	months to
		31 March	31 December	to 31 March	31	December
		2022	2020	2022		2020
		F	F			E
Within	1 year	2,989	4,335	2,541		2,541
Between 2 and 5years		5,539	9,612	5,539		8,715
In over	5years
		8,528	13 047	8080		255