2023-03-31-accounts - Thackray Medical Museum Company Limited

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2023 ANNUAL REPORT & FINANCIAL STATEMENTS for the year ended 31 March 2023 THACKRAY MUSEUM OF MEDICINE The Thockray Medical Museum Compony Limited Charity Reg No 1016169 | Compony Reg No 02772412

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						2023	2022
			Unrestricted	funds	Restricted	Total	Total
		Notes	General f	Designated f	Funds f	Funds f	Funds f
Income and endowments	from
Donations and legacies			178,438		2?.875	201,313	266,570
Charitable Income			721,886		61,151	783,037	947,525
Other trading			513,996			513,996	426,955
Other income			66,853			71,353	111,767
Total incoming Resources			1,481,173		88,526	1,569,699	1,752,817
Expenditure on
Raising funds			198,259			198,259	157,777
Charitable activities			1,465,074		340,365	1,805,439	1,938,476
Otherexpendlture					35,881	35,881	54,104
Total Resources Expended			1,663,333		376,246	2,039,579	2,150357
Het Income (expenditure)			(182,160)		(287,720)	(469,880)	397,540)
Transfers between funds			500,814	(500,814)
HET MOVEMEHT IH FUNDS			318,654	(500,814)	287720)	(469,880	(397,540)
RECONCILIATION OF FUNDS
Balances brought forward			248,787	500,814	4,980,683	5,730,284	6,127,826
BALANCES CARRIED FORWARD		18,19	567,441		4,692,963	5,260,404	5,730,286

BALANCE SHEE	TS	A	SAT31M	ARCH 2023
						Group	Group	Charity	Charity
						31/3/2023	31/3/2022	31/3/2023	31/3/2022
						E	E		E
Fixed assets
Tangible: Museum			buildings	and displays	12	4,661,256	4,871,217	4,659,744	4,869,707
Tangible: Other					12	210,834	318,689	158,839	246,805
Investments					14			2	2
						4,872,090	5,189,906	4,818,585	5,116,514
Current assets
Stocks					15	18,561	20,582
Debtors					16	320,659	485,178	558,667	626,806
Cash at bank	and		In hand			374,47l	480,629	201,042	407,110
						713,691	986,389	759,709	1,033,916
Liabilities: amounts		falling due
within one year					17	(246,671)	(311,747)	(240,654)	(301,091)
Net current assets						467,020	674,642	519,055	732,825
Uabllltles: amounts		foiling due
In more than one	year					(78,706)	(134,262)	(78,706)	(134,262)
Total Net Assets						5,260,404	5,730,286	5s258s934	5,715,077
Funds
Unrestricted	-General					567,441	248,787	565,97l	233,578
Unrestricted	-Designated						500,814		500,814
Restricted					18	4,692,963	4,980,685	4,692,963	4,980,685
Total funds					19	5,260,404	5,730s286	5ntgik934	5,715,077

					Group		Charity
					31/03/2023	31/03/2022	31/03/2023	31/03/2022
				Note	f	f	f	f
Cash generated by/(used		In)
operating activities				24	38,218	(209492)	(61,693)	(285,625)
Cash flows Aom Investing		activities
Interest Income					3,T33	235	3,733	235
Purchase oftangible	Axed	assets			(92,553)	(311,831)	(92,553)	(282,520)
Net Cash Aows from	Investing		octlvltles		(88,820)	(311,596)	(88,820)	(282,285)
Cash used in Anandng activities
Repayment ofCBIL					(55,556)	(60,185)	(55,556)	(60,185)
Net Cash flows from	financing		activities		(55,556)	(60,185)	(55,556)	(60,185)
Increase/(Decrease)	Incash in		year		(106,158	581,073)	206,069	628s095)
Cash at start ofyear					480,629	1,061,702	407110	1,035,205
Cash at end ofyear					374,471	480,629	201,042	407,TIO
Recondgatlon ofnet	movement			In funds tonet cash	Aow Aom operating activities
					Group			Charity
					Cash		Net Debt	Cash	Debt	Net Debt
Balance b/f					480,629	(189,815)	290,814	407,110	(189,815)	217,295
Repayment ofCBIL					0	55,556	55,556	0	55,556	55,556
Cosh generated					(106,158)	0	006,158)	(206,069)	0	(206,069)
Balance c/f					374,47I	(134,259)	240,212	201,041	(134,259)	66,782

expected	useful lives. The annual rates used ar	e:
Leasehold	land and buildings	Over the lease period
A Healthy	Future Building Infrastructure	15to 20years
Museum	displays	5to 10years
Fixtures, Attlngs and computer equipment		4to 5years
Financial	instruments

					2022	2020
		Unrestricted	funds	Restricted	Total	Total
		General	Designated	Funds	Funds	Fltlitls
E		E	E	E	E	E
Income and endowments	from
Donations and legacies		243,630		22,940	266,570	465,896
Charitable Income		934,342		13,183	947,525	1,393,419
Other trading		426,955			426,955	102,198
Other Income		Tn,767			111,767	119,772
Total Incoming Resources		1,716,694		36,123	1,752,817	2,081,285
Expenditure on
Raising funds		116,530		41,247	157,777	31,215
Charitable activities		1,522,837		415,639	1,938,476	1,172,704
Other expenditure		9,253		44,851	54,104	35,881
Total Resources Expended		1,648,620		501,737	2,150,357	1,239,801
Net income (expenditure)		68,074		(465,614	(397,540)	841,484
Transfers between funds		19,929	(52,517)	32,588
NET MOVEMENT IN FUNDS		88~003	(52517)	(433026)	(397j540)	84L484
RECONCILIATION OF FUNDS
Balances brought forward		160,783	553431	5,413,711	6,127825	5,286,341
BALANCES CARRIED FORWARD		248,786	500,814	4,980,685	5,730,285	6,127,825

3	INCOME FROM DO	NA	TIONS	AND LEGACIES
							Year ended	15months ended
					Unrestricted	Restdcted	31March 2023	31March 2022
					Funds	Funds	Total	Total
						6
The	Thackray Medical Research Trust
	Research resource grant				165,000		165,000	206,250
	Archives project						22,875
	Collections management		system					14,840
Friends and Patrons ofthe Thackray				Medical Museum	176		176	4,128
Donations towards A Healthy			Future					8,100
Other awards					13,262		13,262	33,252
Total income from donations			and legacies		178,438	22,875	201,313	266,570
4	INCOME FROM CHARITABLE ACTIVITIES
							Year ended	15months ended
					0nslsstrlcted	Restricted	31March 2023	31March 2022
					Funds	Funds	Total	Total
					8	6	6	6
Grants receivable
	Arts Council England						225,968	508,702
	Heritage Fund					38,351	38,351	4,000
	Garfield Weston Foundation							50,000
	Scurrah yyainwrlght							5,000
	Wades							5,000
	Other grants towards	A Healthy		Future		2,800	2,800
	University ofLeeds (Can Robots Care Exhibition)							8,333
	Government support	fyom the CRJS						44,120
	Government support	towards loan interest on CEIL						6,150
	Other Revenue Grants
	Other					20,000	20,000
Museum visitor income					365,507		365,507	314,37I
Otherlncome					130,411		130,411	1,850
					721,886	61,151	783,037	947426

A summary ofthe trading res	ults ofthe subsidia	ry Is shown below:
Profit and loss account		Year ended	15months ended
		31March 2023	31March 2022
		8
Turnover		513,996	426,955
Cost ofsales and administrative	costs	(525,993)	(369,133)
Academic, Education and access		(1,741)
Operating profit		(13,738)	57,822
Interest receivable
Gift aid obligation and donations	to the charity
Retained In subsidiary		(13,738)	57,822
Balance Sheet
Assets		279,422	200,223
Uabllltles		(277,948)	085,014)
Funds		1,474	15,209
6 OTHER INCOME
				Year ended	15months ended
		Unrestricted	Restricted	31March 2023	31March 2022
		Funds	Funds	Total	Total
		8	8	9	9
Bank Interest receivable		3733		3,733	235
Event and sundry income		10,000		10,000	32,752
Income from disposal ofassets			4,500	4,500	2,000
General rates rebate		53,120		53,120
Museums and Galleries Tax Relief					76,780
		66,853	4,500	71,353	111,787
7 EXPENDITURE ON RAISING FUNDS
		2023	2023	2023	2022
		General	Restricted	Total	Total
		8	9	9	8
Commercial trading operations		111,377		111,377	62,038
Raising public aworeness ofthe museum		86,882		86,882	95,739
		198,259		198,259	157,777

8 ANALYSIS OF	E	XPENDITURE	ON CHA	RITABLE A	CTIVITIES	CTIVITIES
				Year ended	31March 2023		15months ended 31March			2022
				General f	Designated	RestrIcted f	General f	Designated		Restricted f
Salaries, national insurance and pension costs				819,215		22,875	905,988
Related staff costs				42,039			15,894
Other of8cecosts				77,096			89,390
Professional services				83,748			21,238
Insurance				41,064			45,686
Utility services and supplies				83,994			61,561
Operation ol'museum	building			173,854			197,200
Depredation ofmuseum		building				317,290	53,347			377,552
Depreciation ofother	assets			8,824
Academic, education	and access			76,328			67,215			38,087
Event costs							2,368
Collection maintenance				26,487		200	37,179
Governance costs				23,386			28,919
Interest Payable				9,039			6,105
				1,465,074		340,365	1,532,090			415,639
Sub-total expenditure		an Charitable	ActlvNes			1,805,439				1,947,729
Depreciation ofAssets						35,881				44,851
Total expenditure on	Charitable Activities			1,465,074		376,246	1,532,090			460,490
Grand Tote I						1,841,320				1,994580
9 ANALYSIS OF GOVERNANCE			AND SUPPORT COSTS
							Year ended		15months ended
				General			31March 2023		31March 2022
				f			f		f
Legal and other				(215)			(215)		3,885
Trustee meetings and	expenses					246	246		284
Audit						22,500	22,500		24,750
				(215)		22,746	22,531		28,919

10 NET INCOME/(EXPENDITURE)	FORTHE YEAR
	Year ended	15months ended
	31March 2023	31March 2022
		f
This ls after charging:
Depreciation	410369
Auditors remuneration:
Audit fees	18,500	14,950
Non-Audit fees	4,000	9,800

	Yeas' ended	15months ended
	31March 2023	31March 2022
Wages and salaries	759,003	819,753
Seel aI security costs	63,226	63,592
Pension costs	19,831	22,642
	842,090	905,987

The average	headcount was	41(2022:38)an	d analysed by function,	was:
			Yea I' ended	15months ended
			31March 2023	31March 2022
Museum and	trading activities		27	22
Management	and administration	ofcharity	3	4
Trustees/directors'			11	12
			41

GROUP			AHealthy Future
		Long leasehold	Capex (non-	Museum	Fittings &
		land and bugdlng	Museum Displays)	Displays	Comp equip	Total
Cost
At 1Apr 2022		2,825,604	2,264,944	1,040,945	491,363	6,622,856
Additions			92,553			92,553
Transfer
Disposals
At31Mar23		2,825,604	2&357&497	1,040,945	491,363	6,715,409
Depreciation
At1Apr2022		894,911	188,745	176,620	172,674	1,432,950
Charge		35,881	155,709	110,924	107,655	410,369
Transfer
Dlsposals
At31Mar23		930,792	344,454	287,544	280,529	1,843,319
At 31Mar 23		1,894,812	2,013,043	753,401	210,834	4,872,090
At 1Apr 2022		t&930&693	2,076,199	864,325	318,689	5,189,906
Analysis ofnet book value:
Restricted assets		1,894,812	2,013,043	753,401	114,513	4,775,769
Unrestricted	assets				96,321	96,321
		1,894,812	2,013,043	753,401	210,834	4,872,090
CHARITY			A Healthy Future
		Long leasehold	Capex (non-	Museum	Fittings &
		land and building	Museum Displays)	DIsplays	Comp equip	Total
Cost
At 1Apr 2022		2,825,604	2,264,944	1,039,444	398,604	6,528,596
Additions			92,553			92,553
Transfer
Dlsposals
At 31Mar 23		2,825,604	2,357,497	1,039,444	398,604	6,621,149
Depredation
At 1Apr 2022		894,911	188,745	176,630	151,799	1,412,085
Charge		35,881	155,709	110,924	87,966	390,480
Transfer
At31Mar23		930,792	344,454	287,554	239,765	1,802,565
At 31Mar 23		1,894,812	2,013,043	751&890	158,839	4,818,584
At1Apr2022		1,930,693	2&076&199	862,814	246,805	5,116,512
Analysis ofnet book value:
Restricted assets		1,894,812	2,Crl3,043	751,890	62,518	4,722,262
Unrestricted	assets				96,321	96,321
		1,894,812	2,013,043	751,890	158,838	4,818,583

13 SUMMARY OF	ANA	LY	SIS OF H	ERITAGE ASSET	ERITAGE ASSET	TRANSACTION	S
				2023		2022		2020		2019	2018
				f		f		f			f
Object additions				61		1,600		668		59	476
Trade catalogue additions						1,020		415		80	1,539
Bookadditions				194		1,152		320		100	487
Total additions				255		3,772					2,502
The table above sets out Heritage				assets acquired		by the Museum	in 2018,2019,2020, 15months to 31				March 20
and 2023 which are considered to				have a monetary		value. There were no additions				In the year to 2023.
14 INVESTMENTS
Investments amounting		to	f2(2022:f2)comprise			a 100%holding	In the issued		share capital ofThe Medical Muse
Trading Company	Limited (Company				number 02580425),a company			registered	in	England and Wales. A summary
the financial performance			and position ofthe company Is Included				In note 5to		the	financial statements.
The charity holds 100'/a		ofthe voting			rights within The Medical Museum Trading				Company Limited.
15 STOCK
						Group				Charity
						31/3/2023		31/3/2022		31/3/2023	31/3/2022
						f		f		f	f
Goods for resale						18,561		20,582
16 DEBTORS
						Group				Charity
						31/3/2023		31/3/2022		31/3/2023	31/3/2022
						f		f		f	f
Amounts falling due within		one year.
Debtors In the ordinary course			ofactivities			68,013		33,536		34,991	14,963
Prepayments and accrued		Income				222,589		427,531		222,589	413,375
VAT Debtor						21,037				20,037
Gift aid recoverable						1,469		18,531		1,469	18,531
Other Debtors						7,551		5,580			5,580
Amount owed by (to)	subsidiary									279,581	174,357
						320,659		485,178		558,667	626,806

			Group		Charity
			31/3/2023	31/3/2022	31/3/2023	31/3/2022
Amounts	falling due within one year.		f	f		f
Creditors	In the ordinary	course ofactivities	38,535	74,253	32,518	67,427
Taxation	and social security		13,722	29,059	13,722	29,059
Accruals	and deferred Income		136,548	152,77I	136,548	148,940
Other creditors			2310	108	2,310	109
CBIL			55,556	55,556	55,556	55,556
			246,671	311,747	240,654	301,091
			Group		Charity
			31/3/2023	31/3/2022	31/3/2023	31/3/2022
Amounts	falling due In	more than one year:	f	f		f
CBIL			78,706	134,262	78,706	134,262
			78,706	134n262	78,706	134,262

						Balance	IncomIng	Outgoing		Balance
					Note	1Aprll 2022 f	Resources f	Resources f	Transfers f	31March 2023 f
Establishment ofthe Museum
Ashley Wing						1,930,693		(35,881)		1,894,812
Speclfic Pro)acts
TMRT Collections	Management		System		a	17,187				17,187
TMRT Fire Alarm	System				b	17,693		(22,638)		(4,945)
Downs collection					c	100				100
Wilkinson Gallery	Development				d	321				321
Oxford knee archive					e	6,936		(370)		6366
Friends Contribution to Legacy			Marketing		f	1,700				1,700
ACE MRF Close Connections		Audience		Development	g	200		(3,665)		(3,465)
MDY GISSpace					h	11,739		(10,000)		1,739
A Healthy Future							35,151	(6,665)		28,486
A Healthy Future	- capitallsed		Items		J	?„906,519		(262,440)		2,644,079
LEGO Fundralslng	Campaign							(264)		(264)
The Nerve Centre					k
The Nerve Centre	- capltalised		items			72,365		(6,857)		65,508
Acquisitions Fund					m	1,281	4,500	(362)		5,419
Semess Falrboirn	Sustaining	Engagement			n	757		(233)		524
The Monty Lozsowsky Memorial			Prize		0	9,000		(3,298)		5,702
Can Robots Care	Pastnesshlp	with University ofLeeds				194				194
Heritage Lottery	Fund Grant	—Trade		Up Programme	p	4,000	6,000			10,000
Leeds Fest					g		20,000	P00)		19,300
TMRT Archivist Grant							22,875	(22,875)
						4,980,685	8&,526	(376,246)		4,692,963

19 ANAL	Y	SIS O	FG	ROUP MOVE	MENTS IN UNREST	RICTED FUND	S
					Balance	Incoming	Outgoing		Balance
					1April 2022 f	Resources f	Resources f	Transfers	31March 2023 f
UnrestrIcted:		General		Funds
Charity General reserves					233,579	967178	(1,135,600)	500,814	565,97l
Trading subsidiary			reserves		15,208	513,996	(527,734)		1,470
					248,787	1,481,174	(1,663,334)	500,814	567,441
Designated		Funds
Museum development				fund	1,001			(1,001)
COVID recovery fund					499,813			(499,813)
					500W4			(500,814)
Analysis of		group	assets between		funds at 31 March	2023
						Tangible			31March 2023
						Fixed Assets	Bank balances	Net current assets Total
						f	f	f
Restricted	Funds					4,775,768	(82,803)		4,692,964
Unrestricted		Funds	- general			96,321	457474	13,840	567,434
Unrestricted		Funds	- designated
Total						4,872,090	374,471	13,840	5,260498
Analysis of		group	assets between		funds at 31March	2022
						Tangible			31March 2022
						Fixed Assets	Bank balances	Net current assets Total
								f	f
Restricted	Funds					4,952,332	(226,085)	254,438	4,980,685
Unrestricted		Funds	- general			237,574	205,900	094,687)	248,787
Unrestricted		Funds	- designated				500,814		500,814
Total						5,189,906	480,629	59,751	5,730,286

24 RECONCI	LIAT	IO	N O	F N	ET	MOVEMENTS IN	FUNDS TO NET	CAS	H FLOW FROM OP	ERATING A	CTI	VITIES
							Group			Charity
							2023		2022	2023		2022
							f		f	f		f
Net movement	in funds						(469,880)		(397,540)	(456,142)		(455,361)
Add back depreciation			charge				410369		475,750	390,480		456,125
Prost/(lass) on	disposal		ofassets				0		862	0		864
Deduct Interest	Income						(3,733)		(235)	(»733)		(235)
Decrease/(Increase)		In	stock				2,022		(12,317)	0		0
(Increase)/Decrease		In	debtors				164,522		359,097	68,141		331,133
Increase/(decrease)		In	creditors				(120,638)		(695,094)	(115,995)		(678,336)
Repayment ofCBIL							55,556		60,185	55,556		60,185
Net cash used	Inoperating			actlvltles					(209492)	61,693)		(285,625)
25 CAPITAL	AND	OTHER COMMITMENTS
							Group			Charity
							Year ended		15months ended	Year ended		15months ended
							31March 2023		31March 2022	31March 2023		31March 2022
							f		f	f		f
Contracted for	but not provided				In the Rnanclol statements				70,704			70,704
The company	had	the following				future minimum	lease payments	under non-cancellable		operating	leases for each
ofthe following periods:
							Group			Charity
							Year ended		15months ended	Year ended		15months ended
							31March 2023		31March 2022	31March 2023		31March 2022
							f			f		f
Operating Leases
Within 1year							3,438		5,015	2,541		3,22l
Between 2and	5years						6,174		8,931	6,174		8,034
In over 5years
							9,612		13,947	8,715		11,256

THACKRAY MUSEUM OF MEDICINE 141 Beckett Street Horehills, Leeds LS9 7LN thackraymuseum.co.uk Registered chorty In England no 1016169 ARTS COUNCIL ENGLAND •• Heritage THACKRAY MEDifALRISFJACHTRUST