Oocusign Envelope10'. 17F0770C-A21A455A-8F86-E26CBOF20ADS Charlty reglslratlon number 1018779 Company registratlon number 02793965 (England and Wales) ST BARBE MUSEUM AND ART GALLERY A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A015GUUL4 1711212024 COMPANIES HOUè> A11
240
Docusign Envelope ID.. 17F077DC.A21A455A-8F86-E26CBDF20A05 ST BARBE MUSEUM AND ART GALLERY LEGAL AND ADMINISTRATIVE INFORMATION Chair Sir J H de Trafford Board Of Trustees S Alderson P Baker A Cortjridge C E Faint T Francis C A Jones ProfessorA C King J A Millard PAPerry Professor A Smith Sir J H de Trafford A Pritchard N J McLocklin S E Cheers A Burton J Lock (Appointed 12 September 2023) (Appointed 4 Oecember 2023) (Appointed 4 June 20241 (Appointed 17 September 20241 (Appointed 17 September 20241 Senlor Management Team M Ragan, Museum Director Charity number 1018779 Company numb•r 02793965 Registered offlce St Barbe Museurn New Slreel Lymington Hampshire S041 9BH Independent examiner Fiander Tovell Limlled Slag Gates House 63164 The Avenue Southampton Hampshire S017 1XS Bankers Lloyds TSB PLC 39 High Street Lymingion Hampshire S0419ZF Inveslment advisors Schroder Unit Trusts Limited PO Box 1402 Sunderland SR43 4AF
Docusign Envelope ID.. 17F077DC_A21A455A_8F86_E26CBDF20AD5 ST BARBE MUSEUM ANDART GALLERY CONTENTS Page Vision. mission and core values Summary ol strategic objectives Chails stalemenl Director's report Trustee5' report 8-10 Independent examinerfs report 11 Statement of financial activities 12 Balance 5heel 13-14 Noles to the financial statements 15-30
Docusign Envelope ID.. 17F077DC_A21A455A4F8&E26CBOF20A05 ST BARBE MUSEUM AND ART GALLERY VISION, MISSION AND CORE VALUES Vlslon To become the most respected small museum and art gallery in the UK - providing cultural experiences and ¢ative activities for the wider community. Mission We will achieve our vlsion by.. a) Making St Barbe a great organisation that attracts and inspires talented people - staff, volunteers, Friends, Trustees, contractors. partners and others. b) Working Wlth our community to improve the range of cultural experiences and creats've ackn'vilies for our audiences through Ihe way in which we.. Collect, interpret and make accessible the cultural heritage of the New Forest and its coastline Deliver world class exhibitions and events Produce innovative cultural programmes and activlties, including via the web Encourage the participation of the wider community in creative pursuits o Inspire greater respect for the planet and take a lead in developing more sustainable practices th the aim of diver31fylng Our audience and reachin9 Out to people of vaned background, ages and abilities. c) Attracting a larger, varied and loyal group of Donors, Patrons, Friends and revenue-generating visitors to provlde a financially resilienl base for our expanding activities. Core Values The integrity of our charity and of everyone who works here is hugely important to us if we are to fulfil our mission and realistically aspire to our vision. We will be, Creatlve- in everything we do and in how we listen to. inspire and collaborate with others Demanding- of ourselves and of all our working practices, including our approach to sustainability Falr- in our approach to increasingly diverse audiences, supporters, colleagues. partners and others 8y implementing our Mission, striving towards our Vision and living up lo our Core Values we intend to create a virtuous circle leading to long-term success.
Do¢usn Envelope ID.. 17F077DC-A21A-455A-8F86-E26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY SUMMARY OF STATEGIC OBJECTIVES Our Five Year Plan details eight strategic objectives linked together in a virtuous circle.. Make St Barbe a great organisation Ihat attracts and inspires lalented people. 2. Provide our people with improved information, too15 and resources - property, plant, IT and equipment. 3. Enrich the range and quality of our collection and the ways in which it can be accessed. 4. Develop an innovative, appealing and diverse programme of exhibitions, displays and activities that are evaluated for impact. 5. Expand and diversify the experiences and activities of our audiences by improvlng our outreach and the services we provide. online and in-person. 6. Use marketing creatively to raise our profile, and to increase and diversify our audience, while showcasing our charitable impact. 7. Attract a larger, MO varied and loyal group of donors through a comprehensive fundraising Strategy.. 8. Improve financial performance, operational efficiency and environmental standards. Talented People Sustainable Flnances Right Tools Comprehensive Fundfaisin8 Accesslble Collectlon Effertive Marketin8 Cultural Experiences Cieatlve Activities A failure to succeed with any one objective jeopardises overall success. However, by ensuring that our action plans are implemented coherently in all areas we can build momentum around a virtuous circle. Potential for acceleration will come from the successful application to Arts Council England for National Portfolio Status. Additionally, we will focus efforts on any objective which is failing, either through adverse extemal factors or inadequate attention. This may require us to slow the virtuous circle or in extreme circumstances (such as closure ofthe museum because of pandemic) go into reverse and implement contingency plans. It 15 this flexibility that lies at the heart of our Five-year Plan.
Do¢usyn Envelope10.. 17F077DC-A21A45SA4F86-E26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 There has been a host of coverage in the media about funding for the arts and the benefits this brings to both the UK economy and the well-being of its population. However. the uncertain political climate and relatively weak economic situab'on provides little prospect of any signrficant change in future. St Barbe is having to strive for every visitor and for every bit of funding, alongside other cultural organisations. For the last five years we have had a clear focus set out in a series of annual and long range plans, each carrying the slrapline 'Creating a Flexible Future. and that is what we are successfully doing. At the heart of this strategy is the understanding that we must live within our means. but that the more funding we receive the more we can achieve. 2023124 marked a retum to profitability after the loss we made in the previous year, when we were not quick enough lo adapt to the slower than expected release of funds. We are still too dependent on funding for specifi¢ aclivities rather than funding thal contributes to our core costs, largely staff and overheads. Desprte considerable progress in raising OUT profile over recent years, there are still many in our local area who don't fully appreciate that we are a charity bringing cultural experiences to the wider community. We are sometsme5 perceived as relatively well endowed by local aulhonty funding and primarily calenng for an older, wealthier and less diverse elile. The reality is that Hampshire County Council who used to provide us with £60,000 per annum in core funding have now wilhdravffl it in entirety, due to their extreme budgeting pressure5. Sadly, the New Forest District Council have also halved their funding lo £5,000. while the smaller contributions from Lymington and Pennington Town Council mostly relate to specific needs or activities. We have Iherelore become even more dependent on lunding Irom Arts Council England and the National Lottery Heritage Fund. Fortunately, we are establishing a strong track record with both these national funding bodies. They are beginning to use us as an exemplar of what can be achieved by an energetic and committed smaller museum. We have also been able to drive higher paid admissions to the museum and temporary exhibitions and sustain a thriving Friends organisation. The shop continues to do well and we continue to diversify our sources of funding. I will leave it to our Director, Maria Ragan. lo cover the success of our outreach activilies and the awards we have won. As always, it has depended on the hard work of many people and we are indebted to them all. A5 we entered the new financial year, we also marked the 25th anniversary of the founding of the museum. A few of those early pioneers are still working as volunteers and their dedication was recognised at a recent birthday party. We yre able to celebrate with a number of guests vtho had experienced the building in its earlier role as the local primary school founded by the St 8arbe family. We enter the next 2S years with optimism for the future. We have a strong pipeline of exhibitions and are succeeding in building successful partnerships in local villages. The New Forest is recognised as an area of low engagement in arts, history and culture. Together we are bringing about change. Since my last report we have successfully recwited new Trustees. Neil McLocklin, Sarah Cheers, Jeff Lock and Andrew Burton bring a wealth of new experience to the Board to add to the existing bench strength. They recognise our groNMng reputation and were keen to join us while we, in turn, were delighted to welcome them.
Docusign Envelope ID." 17F077DCA21A4S5A4F8&E26CBDF20A05 ST BARBE MUSEUM AND ART GALLERY CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 I would like to end by thanking all those who have contributed to our continuing gro%%th - our lunders, our Friends, our visitors and, most especially, our people, both staff and volunteers. Without them we could not succeed. gir W IL frafvl Sir John de Trafford Bt. MBE Chair of Trustees 16/12/2024 | 10:29 GMT
Docusign Envelope10.' 17F077DC-A21A455A_8F86.E26CBDF20ADS ST BARBE MUSEUM AND ART GALLERY DIRECTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 This has been a great year for St Barbe's. We have even been recognised wth awards from the New Forest Business Partnership where St Barbe won the Balmer Lawn Hotel Award for Outstanding Contribution to the Visitor Economy and from Hampshire County Council vtho put St Barbe's fopward for the HAF 2024 Awards as one of their local providers that has demonstrated excellence in provision, which we then won. We have continued to produce superb exhibitions, innovative programming and exceptional outreach opportunities for our communities. We continue to work hard on our Arts Council England (ACE) National Portfolio Organisation (NPO) programme and have had some excellent feedback from ACE. Make st Barbe a great organlsatlon that attracts and insplro8 talenled people Our staff and volunteers have continued to be the major asset of the Museum. each working hard and contributing to the success of the Museum in ever more creative ways. Staff Changes.. Leo Powell has now left the Museum to take up a post nearer to his home in Chichester. Daisy Laker vS our Apprentice from February lo Septembef and was then offered another role locally Our volunteers continue to play a central lo the smooth running of the Museum, we are ever graleful to them for their time, energy and enthusiasm. Provide our people with improved Inforniatlon, tools and resources property, plant, IT and equipment We are continuing lo develop the webslte and our CRM system lo ensure that they meet our ever- growing needs. As our IT system ages, we are investigating the costs and practicalities ol transitioning to SharePoint. I have a Trustee, Neil McLocklin, who has a lot of IT experience and is helping me with this work. We have applied for lunding to help us deal with the access, mainlenance and sustainability issues in the Museum and have commissioned work to identify a maintenance plan. l am now working on the funding to delwer this plan. Enrlch the range and quallty of our collection and the ways In whl¢h It can be acco88ed We continue to develop the collection and enhance our knowledge ofthe collection by hosting Tea and Memory sessions. We are working with the local community and other organisations lo build the collection and improve our cataloguing. Develop an innovative, appealing and diverso programm• of exhibitions, displays and events that are evaluated for impact Theo en Exhibition is the annual opportunity for our community to display their creative works of art and have them available for sale. The quality of the work is truly amazing. Piratesl Fact and Fiction was a swashbuckling exhibrlion about pirates from across Ihe globe. This exciting family-friendly exhibition took visitors on a journey through pirate history, film and literature. From the Cilician pirates of the Roman Mediterranean to the Golden Age pirates of the Caribbean. displaying Vikings, Barbary corsairs, and Chinese pirates and discovering facts about their ships and lactics. There was a lot to see and do, with spectacular costumes from Black Sails, Peter Pan and Spartacus, and lun interactives, a children's trail and activity sheets for all ages.
Docu$ign Envelope ID.. 17F077DC-A21A.455A-8F86-E26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Parallel Lives looked at the careers and experiences ofeight women arts'sts, all born Ythin fvrfenty years of each other and whose lives spanned the Iwenlieth century.. Wilhelmina Barns-Graham, Prunella Clough, Ithell Colquhoun. Evelyn Dunbar, Gertrude Hermes, Barbara Jones. Enid Marx and Monica Poole. Their work covered a range of media.. sculpture, painting. printmaking, textile design and book illustration. Stylistically diverse. they drew selectively on art movements with some at the forefront of developmenls within their artistic fields including neo-romanticism. realism. surrealism, folk art and abstraction. Plantin Ideas led visitors on a journey Ihrough the stages in creating an Herbarium, introducing contemporary art inspired by science and botany. The exhibition looked at historic practices in preserving and presenting plant species and showed how these techniques inspire artists today The exhibition explored plant collecting, pressing and drying, mounting and arranging, preseNation, recording, illustration and economic botany. Each of these themes was illustrated by artefacts on loan and Irom St Barbe's collection. They were embellished by contemporary artworks including a basket by Catherine Beaumont, cyanotypes by Angela Chalmers, road dust prints by Edward Chell, embroidery by Amanda Cobbett, Lynn Comley's felt and embroidered textiles, Caroline Dear'5 moss construction, Joe Horner's photography, Slef Mitchell's monotypes, Sarah Morrish's botanical illustrations, Sarah Paramor's moss bag and Helen Thomas's paintings. Expand and diversify the experiences and activities of our audionces by Improving our outroach and the services we provide, on-line and in person This year we continued to expand and develop our outreach programming. We continued with the Hampshire Activities and Food programme (HAF) and we are now their most successful and award winning project. th the continued support ol the Beaulieu Beaufort Foundation we were able lo further develop our'st Barbe at Large,, an outdoor pop-up held on the Emsworth Road Recreation Ground and at Pennington twice a week during the summer holidays. We have expanded our outreach offer and have developed activities in village localions across the forest and with continuing project funding from Arts Council England (ACE) we have continued lo increase our outreach and educational actsvities, which we are still able to offer for free. Engagement with our Young Curators and Access Panels has continued to increase and their input is important in our future programming St Barbe for Ukraine has continued this year with the provision of English lessons at the Museum. Use marketlng creatively to ral80 our profllo, and to Increase and dlversify our audlence, 4thllst showcasing charitable impact We are mainlaining ourexcellent relationships with the local press who provide good coverage. Signage on the High Street and directions are much clearer and are helping direct people here. The website is working well and our social media presence is continually developing which helps with our programming and events. All of our work is professionally evaluated for each event and activity to ensure that we can track the impact of markets'ng on fooffall.
Docustgn Envelope ID: 17F077EC-A21A455A-BF86-E26CBOF20AD5 ST BARBE MUSEUM AND ART GALLERY DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Attract a larger, more varied and loyal group of donors through a comprehensive fundraising strategy Our ACE Can't See the Art for the Trees project came to an end in 2024 and although we have the regular NPO income, we need to Wrk hard to develop new funded projects. We continue to have amazing support from our Patrons and Friends organisalion. We have been able to have a range of fundraising and social events this year which help us develop and expand this support. We are also developing our buslness partner network and secured a three-year sponsorship with Hallett Independent Improve financial performance, operational efficiency and envlronmental standards A key priority for the staff and trustee team will continue to be fundraising, since we are an independent charity. After our fundraiser left in the New Year, we have re-arranged the staffing and l am now taking on more of the lundraising with Ihe help of two other members of staff. I have regular meetings wilh Carol Faint, our Treasurer. We look at operational costs and potential savings. I regularly review contracts to ensure that we are gettin9 value for money. Both the café and ghop conlinue to be an excellent asset to the Museum. The shop is making a small profit. This has been a busy and successful year. The Staff, Volunteers and Trustees all feel thal we have developed ever more posilive relationships with the communlty. local and district councils and other supporters. Maria Ragan Director St Barbe Museum and Art Gallery
Docusign Envelope10'. 17F077DC-A21A455A-8F86.e26CBOF20A05 ST BARBE MUSEUM AND ART GALLERY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are directors for the purposes of company law. present the annual report tO9elher with the financial staternents and auditors, report ofthe charitable company for the year ended 31 March 2024. Governing Document The Charity is conslituled as a company limiled by guarantee and is, therefore, governed by a memorandum and articles ofthe association. Recruitment and Appointment ol Trustees All directors of the Company are also trustees of the charity and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to do 50. Tru8teo Inductlon and Tralning All newly appointed Board members receive appropriate induction involving meetings with other directors and discussions with the Museum Director together with the right lo attend any appropriate external courses. All Board membefs have access to independent advice on any matters relating to their responsibilities as Directors. The Directors are responsible for ensuring that all Board procedures are complied with. Training is undertaken as required during the year. The trustees who Seed during the year and up to the date of signalure of financial statements were.. S Alderson P Baker A Burton S E Cheers A Corbridge C E Faint T Francis C A Jones Professor A C King J Lock N J McLocklin J A Millard PAPerry A Pritchard Professor A Smith Sir J H de Trafford (Appointed 17 September 2024) (Appointed 4 June 20241 (Appoinled 17 September 20241 (Appointed 4 December 2023) (Appointed 12 September 2023) Obj•Gtlves and Actlvities The museum preserves and shares the artefacts. images and stories of the New Forest coastal area, lo inspire and deepen its audiences, understanding of their own cultural idents'ty and sense of place. The flagship galleries host high quality exhibitions bringing art of national significance to Lymington for the benefit of the wider community. The charity is organised so that all trustee5 meet regularly to manage its affairs and VIeW matters considered by the individual committees. There have been no material changes since the last Annual Report in the policies adopted by the Trust in the furtherance of the objedives. Publle 8enofit The museum is for the use and benefit of all members of the public.
Docusryn Envelope ID: 17F077DC-A21A-455A-8F86-E26C8DF20AD5 ST BARBE MUSEUM AND ART GALLERY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees confirm thal they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission for England and Wales. Financial Review The Statement of Financial Activities Shows a deficit of £85,102 {2023'. £102,843 deficit). Grants and donations of £363,657 {2023'. £188,069) were received together with exhibition and admission incorne of £10,412 and £29.668 respectively. so contributing to the maionty of income for the year of £478.148 (2023.. £347,363). From an operational point ol view the museum has generated a surplus of £6,003 (2023., deficit of £62,517). Policy on Fundg Total balance sheet funds as at 31 March 2024 amount to £1,539.250, ofwhich £1,300,831 1$ restricted.. The largest restricted fund is the 'The Future for Sl Barbe Fund, of £1,259,170. This relates to funds (after providing for depreciation) which have been spent on the major capital refurbishment project completed in July 2017. These appear on the Balance Sheet as Fixed Assets under the heading Leasehold. Of the total funds, only £154.557 relates to unrestricted funds available to the charity. This level of funding is deemed to be at the minimum level required to support the continuation of the museum's activities. Day-lo-day maintenance and operational requirements place considerable demands on the charity's resources and do not allow it lo build up significant unrestricted reserves. Any further developments will require additional fundin9 from donors. The position is kept under close review to ensure day-to-day administration costs can be met as they fall due. Risk Management The Trustees maintain a risk register with risks assessed for the likelihood of crystallising and impact on the charity should they do so The principal risks and uncertainties are shortage of income, a major incident, failure to attract sufficient volunteers or 5y5tems failure. Each risk has mitigation activits'es associated with it and an identified lead or leads lo pursue these activities. Statement ol trustees responslbllltles The trustees (who are also directors of St Barbe Museum and Art Gallery for the purposes ofcompany law) are responsible for preparing Ihe Iruslees, report and Ihe financial statements in accordance with United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Policies) and applicable law and regulations. Company law requi3 the trustees lo prepare financial statements for each financial year. 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 slate of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements. the trustees are required to.. Select suitable accounting policies and apply them consistently., Observe the methods and principles in the Charities SORP- Make judgements and estimates that are reasonable and prudent: State wthether applicable UKAccounting Standards have been followed, subjectto any material departures disclosed and explained in Ihe financial statements, and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the
Docusign Envelope ID.. 17F077DC-A21A-455A-8F8&E26C6DF20AD5 ST BARBE MUSEUM AND ART GALLERY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 financial position ofthe charitable company and enable them to ensure that the financial stalements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information In so are as the trustee5 are aware.. There is no relevant audit infomiation of the charitable company's auditor is unaware. and The trustees have taken all steps that Ihey ought to have taken to make themselves aware of any relevant audit information and to ensure that the auditor is aware of that information. It is not a requirefflent that the charity be audited but the Trustees have agreed thal the charity will be audrted every three years with independent examinalions in the intervening periods. The last audit was 2022 and the next audit will be as agreed by the Trustees. Small companies provision statement This report has been prepared in accordance with Ihe small companies, regime under the Companies Act 2006. The trustees, report was approved by the Board of Trustees. Sif frAfforl Sir J H de Trafford Trustoe 16/12/2024 1 10:29 GMT 10
Docusign Envelope ID.. 17F077DC-A21A-455A-8F86-E26C80F20A05 ST BARBE MUSEUM AND ART GALLERY INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF ST BARBE MUSEUM AND ART GALLERY I report to the board of trustees on my examination of the finanGial statements of Sl Barbe Museum and Art Gallery (the charity) for the year ended 31 March 2024. Re8ponsibilitle* and basls of report As the board of Iruslees of the charity (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Havlng satisfied myself that the financial statements of the charity are not required lo be audited under Part 18 01 the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charty's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Acll- In carrying out my examinalion I have followed all the applicable Direclions given by the Charily Commission under section 145(S>lb> of the 2011 Act. Indepèndent examlnerfs 8talement Since the charity's gross income exceeded £250.000 your examiner musl be a member of a body listed in sectlon 145 of the 2011 Act. I confirm that l am qualified lo undertake Ihe examination because l am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm Ihal no matters have come lo my attention in connection wllh the exèminalion giving me cause lo believe that in any material respect.. accounting records were not kept in respect ol Ihe charity as required by section 386 of the 2006 Act; or the financial 5talemenls do not accord with those records.. or the financial statements do not comply wlth the accounting requirements of section 396 of the 2006 Act other Ihan any requirement that the accounts give a true and fair view which 1$ not a rnalter considered as part of On independent examination.. or the financial slalements 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 wilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other rnatters in connection wlth the examination lo which attenlion should be drawn in this report in order lo enable a proper understanding ol Ihe financial statements lo be reached. Adam Buse ACA Fiander Tovell Llmlled Slag Gates House 63164 The Avenue Southampton Hampshire S017 1XS 16/12/2024 1 12:21 GMT Dated.. 11
Docu8n Éwiop• 10.. 17Fts71OSA2IA45SA4FE26¢8DFl0AoS ST BARBE MUSEUM AND ART GALLERY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME ANO EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Uhr•iirl¢t•d R•itrf¢t•d Endown•nt lund• 2024 Total unr•itI•d R•slnd•d Enoowmefii lunOI fundl 2023 2023 Tol•l 2024 20?4 2024 2023 2023 Mol Grnnis, donthik•ni & lég8d•8 h•rti4bl• ¥esInIS Other incorne 207.397 100.270 6.505 303.8s7 IrKI.270 6.se5 7.836 137.153 142.952 50,916 IB8,th19 142,952 16,202 18,Z02 Totsi Incom• •nrf •ndovnn•nl• 474.141 2•6,307 SD.910 347,383 Fundrsing and wblidly In¥•51meryl m•n•gtmenl Ch4rf1•blo 214 375.885 185,221 561,106 350.124 85.7JA 444.503 Tthal •xp•ndStur• 375.805 185,Z21 561,106 358.824 80.045 214 447.083 N•1 941nWosi•¢Tr M lfiw•im•rf• 10 lJ.1231 N•t mo¥¢ment In lunds 6.TrJ3 180.9611 1,389,792 182.5171 137.1291 1,4Z6.921 13.1971 110Z.1431 89.20) 1,727.195 Fynd bolanc•i •1 l Apdl 2U23 148.554 1,624.352 211,071 Fund b4l•n¢•• •t J1 March 1014 154.557 I,),831 1.SJ9.ZS0 141.5Y 1,389.792 1.S24,352 Th• stalim•nl of fin•nu•l ¢%1$ Indudes o ••in$ •nl I•ss¢s feco9nisei1 in ihe year. Th• •t•l•m•ni of ndI1 Ind+* •# g•lnB Iwi•i In th• y•ar. In¢offl• Ind •xp1ndw• IMm<UlnQ ••. 12.
DocLtsign Envelope ID.. 77F0770C.A21A.455A.8F86.E26CBDF20A05 ST BARBE MUSEUM AND ART GALLERY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note• Flxed assets Tangible assets Investments 12 13 1.419,688 83,962 1,474.318 85,772 1,503,650 1,560,090 Current asset8 Debtors Cash at bank and in hand 14 100,839 84,415 51,847 137,864 185,254 189.711 Credltorn: amounts falllng due wlthln one year 15 {149,6541 (125,4491 Net currenl assets 35,600 64,262 Total a¥s•ts less currnnt Il•bllitl•• 1,539.250 1.624,352 Capltal fundg Endowment funds 83,862 86,006 16 83.862 86,006 Income funds Reslricled funds Unreslricled fund General unrestricted funds 1,300.831 1,389,792 154,557 148,554 Unrestricled funds 154,557 148,554 1.539.250 1,624.352 13-
Docusign Envelope 10.. 17F077DC.A21A455A_8F86_E26CBDF20A05 ST BARBE MUSEUM AND ART GALLERY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The company is entitled to Ihe exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for comptying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial slalemen15 for the year in question in accordance with section 476. These financial slalements have been prepared in accordance with the provisions applicable to companle5 subject to the small companies regime. The financial slalements were approved by the 8oar(l Of Trustees on 16/12/2024 1 10."29 GMT gir Joth JL frAfvI Sir J H de Trafford Trustee Company registration number 02793965 14-
Docusign Envelope 10.. 17F0770C-A21A455A-8F8&E26C8DF20AOS ST BARBE MUSEUM ANDART GALLERY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charlty Infornialion St Barbe Museum and Art Gallery is a private company limited by guarantee incorporated in England and Wales. The registered office is St Barbe Museum, New Street. Lyminglon, Hampshire, S041 98H. 1.1 Accountlng conventlon The financial stalernents have been Prepared in accordance with the charity's goveming document. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounling and Reporting by Charities.. Slalemenl of Recomrriended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 20191- The charity is a Public Benefrt Entity as defined by FRS 102. The charity ha$ taken advantage ol the provlsSons in the SORP for ¢har4tl8s not to prepare a Statement ol Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amoun15 in these financial slalemenls are rounded lo the nearest £, The financial statements have been prepared under the histoncal cost convention, modified to include certain financlal in51ruments al fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the time of approving the financial statements. the board of trustees have a reasonable expectation Ihat the charity has adequate resources to conlinue in operaiional existence for the foreseeable future. Thus the board of Iruslees contlnue to adopt the golng ¢oncem basls ol accounting in preparing the flnan¢ial statements. 1.3 Charilable reserves and fund• The Slalemenl ol Recommended Practice (SORP) lor Accounting and Reporting by Charltles defines reserves as income which becomes available to the charity and is to spend al the Trustees. discretion in furtherance of any of the charity's objects. but which is not yet spent, committed or designated. This definition ol reserves Iherefore excludes reslricled and designated funds and income funds which could only be reali5ed by disposing of fixed assets held for charity use. Unreslricled resep4es are held lor three specific reasons.. 1 To protect Ihe charity in the event of 8 loss ol income lor a period of up to three months; 2 To safeguard the charity from an unexpected but essenlial one-off cost: or 3 To provide sufficient funds to enable the charity lo be able lo pay both salary and overhead cosls for period of three months. This would require minimum reserves of £60,000. The amount of reseNe held at 31 March 2024 is £13,426 {2023.' £9,754) as per note 19. We will be Wofking hard in future years lo build our reser¥es back up to our required minimum. Restricled funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of ihe reslricled funds are set out in the notes lo Ihe financial slalemenls. Endowment funds are long lemi inveslmenls managed by Cazenove Capital allowing income drawdown for a specific number of year after which the capilal will become available. 15-
Docusign Envelope ID.. 17F077DC-A21A45SA-8F86-E26C8DF20A05 ST BARBE MUSEUM ANDART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Gontinued) 1.4 Income Income is recognised when Ihe charity is legally enliiled lo il after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless perfomiance condltions require deferral ol the amount. Income lax recoverable In relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or olhenvise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is trealed as a contingent asset. Grants receivable are recognised when the three lollowing conditions are mel.. Entitlement - control over the rights or other access to the econornic beneflt has passed lo the charity. Probable - it is more likely than not that the economic benefit has passed lo the charity. Measurement - the fflonetary value or amount of the income can be rnea5ured reliably and the costs incurred for the transaction and Ihe costs to complete the transaclion can be measured reliably. Membership income is recognised when received on the basis that the museum wlll incur no further costs in relatson lo this against which the income would nomially be deferred. 1.5 Exp•ndltur• ExpenditLtre is recognised once there is a legal or conslruclive obligalion to transfer economic benefit to third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliabty. Expendllure is classified by aclivity. The costs ol each activlty are made up of the lolal of dlrect cosls and shared costs, including support costs involved in undertaking each activity. Direct costs allributable to a single activity are allocated directfy lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned belween those acbvilies on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 T•ngibl• flxéd assets Tangible fixed assets are initially measured at cost and subsequenlly measured at cost or valuation, net of depreciation and any impairmenl losses. Depreciation is recognised 80 as to write off the cost or valuation of assets le$$ Iheir residual values over thelr useful lives on the following bases.. Leasehold improvemenls Fixtures and fittings Office equipment Gallery equipment 2Qh Straight line basis 1 5% Straight line basi$ 250/0 Straight line basis 15% Straight line basis The gain or loss arlslng on the disposal ol an asset Is delemined as the difference between the sale proceeds and the carrying value ol the asset, and is recognised in the statement of financial activities. 16-
Docusign Envelope ID.. 17F077CC-A21A4S5A-8F86*26C8DF20ADS ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng policie$ (Continued) 1.7 Fixed asset investrnents Fixed asset inveslmenls are initially measured at transaction price exduding transaction costs, and are subsequentty measured at fair value al each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charlly. Control Is the power lo govern the financial and operating policies of the entity so as lo obtain benefils from its aclivilies. 1.8 Impalrment of fixed assets At each reporting end dale. the charity reviews the carrySng amounts of its tanglble assets to detemiine whether there is any indication that those assets have suffered an impairmenl loss. 11 any such indication exists. the recoverable amount of the asset is estimated in order lo determlne the extenl of the impairment loss {if any). 1.9 Cash and cash equlvalents Cash and cash equivalenls indude cash in hand, deposits held at call with banks. other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are Shown within borrowings in current liabilities, 1.10 Financial instruments The charity has elected to appty the provisions of Sectlon 11 '8aslc Financial Instruments, and Seclion 12 'Other Financial Instrumen15 Issues, ol FRS 102 to all of Ils financial instruments. Financial instruments are recognised in the chanty's balance sheet vthen the charity becomes paty to the conlractU81 provisions of the inslrurnent. Financial assets and liabilities are offset, with the nel amounls presenled in the financial slatemenls. when there is a legally enforceable right lo sel off the recognised amounts and Ihere is an intention to settle on a net basis or to realise the asset and settle the liability simullaneousty. Ba81¢ flnan¢lal assets Basic financial assels. vthich include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest rnelhod unless the arrangement conslilules a financing Iransaclion, where the IransactiOD IS measured al the present value of the future receipt5 discounted al a market rate of Interest. Financial assets classified as receivable within one year are not amortised. Basic financlal Ilabllltl•s Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless Ihe arrangement Gonslitutes a financing transaclion, where the debt instrument is measured al the present value of Ihe fvture payments discounted at a market rale of inte$1. Financial liabilitie5 classified a5 payable within one year are not amortised. Debt instruments are subsequenlly carried at amortised cost, using the effective interesl rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due wilhin one year or less. If not, they are presented as non-curn1 liabililies. Trade creditors are recognised initially at transaction price and subsequenuy measured at amortised cost using the effective interest method. Derecognltlon of flnancial liabllltl•8 Financial liabilities are derecognised when the chanty's contractual obligations expire or are discharged or ancelled. 17-
Docusign Envelope ID.. 17F077DC-A21A45SA-8F86.E26CBOF20AD5 ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.11 Employee benefits The cost of any unused holiday enlillement is recognised in the perlod In which the employee's Services are received. Temiinalion benefits are recognised immediately 8s an expense when the charity is demonslrably committed lo lemiinale the employment ol an employee or lo provide termination benefrts. 1.12 Retirement benefit• Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 18-
Oacuslgn Its.. 17F077tCA?IA45SMFI&E20COOFWS ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEOI FOR THE YEAR ENOED 31 MARCH 2024 Unv•¥trl¢t•d 7ot•l Vnrertaed R88trtcied rund8 lunds Total lund• 2024 3024 2024 10?3 2023 4J Dono15vn$ and gillo Grants rK•i%Yd 39,528 227,969 39.528 324.129 77,394 59.7S9 77.394 110.87S .260 JO.918 207.397 96.280 303.657 137,153 50,918 118.089 There 1> ¥ ¥ub$l8nlls1 Inry•?$• In Ihe 9rnni incom• for lh• wThenl •¥ ol Mumum belng grnnied Nallon Portlclo Oryrli81Scn slaluB r•¢#19 ¢ISO,000 p¢r •nrtum from i ApN 20?3. 19-
Docusign Envelope ID". 17F0770&A21A455A-8F86E26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitabl• activltl•s 2024 2023 Patrons & Friends of St Barbe Admission income Sponsorship Workshops Exhibitions Exhibitors entry fees EdUtIOn 38,276 29,668 16,500 1,167 10,412 2,908 1,339 34,936 32,739 4,500 480 65,190 804 4,303 100,270 142,952 In 2023 exhibition income was high as a consequence of £51,669 received on sale of artists works. Included within exhibition costs is £35,637 paid lo exhibitors in respect of these sales in 2023. Therefore. a decrease in exhibition Income is expected. Income from investments Unreslrlcted Endowment funds funds 2024 2024 Total Unrestrlcted Endowment lund$ funds 2023 2023 Total 2024 2023 Income from listed investments Interest receivable 6,466 119 6.466 119 138 138 6,585 6,585 140 140 Other Income Unrestrlcted Unrestricted funds funds 2024 2023 other income 7,636 16,202 other income in 2024 includes £7,880 which was charged to the café for nt and utilities compared to £7,520 in 2023. The decrease from 2023 is largety due to parking cloth commission now accruing to the Irading subsidiary ofthe Museum. -20-
Docusign Envelope ID.. 17F077DC-A21A455A-8F8FrE26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable actlvities Charltable acllvlty 2024 Charltable actlvity 2023 Dlrect cost• Depreciation and impairment 63,948 61,112 Share of support and governan¢e costs liee note 7) Support Governance 483.085 14.073 368,250 15,201 561,106 444,563 Analysls by fund Unrestricted funds Reslricled funds 375,885 185,221 358.824 85,739 $61,106 444,563 In the prioT year restricted depreciation was included in support costs. In the current year restricted depreciation has been posted directly lo restricted charitable activities. 21
Docusign Envelope ID". 17F077DC-A21A455A-8F8&E26C8DF21)A05 ST BARBE MUSEUM ANDART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Govemance ¢osts costs 2024 Support cosls Govemance costs 2023 Stsff costs Depreciation Establishment costs Finance costs Adminislralion cosls Infomialion lechnology Other support Costs Human resources Exhibition and engagement costs 221,087 2,426 54,370 6,727 221,087 2,426 54,370 6,727 152,740 2,481 52,139 7.141 152,740 2,481 52,139 7,141 21,042 21,042 22,644 22,644 5.224 6,035 3,629 5,224 6,035 3,629 6.568 5.344 1.928 6.568 5,344 1,928 162,545 162,545 117,265 117,265 Audit fees Accountancy Legal and professional 2,7SO 11,323 2,750 11,323 4,600 9,601 4,600 9.601 1,000 1,000 483,085 14,073 497,158 368,250 15,201 383,451 Analysed between Charitsble activities 483,085 14,073 497.158 368,250 15.201 383.451 Stsff ¢osl$ for 2024 indude £0 fvnded by granls12023.' £14,523). Governance cost8 Sncludes payments to the auditors 01 £4,600 In respect of Independent examinatlon (2023 - £3,875 for independent examination feesl- Board Of Trustees No trustees were reimbursed expenses from the charity during the current and prior year. No additional benefits were received in the current and prior year. No trustees. nor any persons connected with them. have received any remuneration from the charity during the current or prior year. The chanty arranges cover of £1.000,000 for the trustees Jgainsl liabilflies in relation to the chanty (2023 £1.000.0001. Donations made by the Iruslees without any condittons attached £1,000 for the year {2023- £1,000). -22-
Docusgn Envelope 10.. 17F0770C-A21A455A-8F86-E26CBDF20AD5 ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ernployees The average monthly number ol employees durlng the year was.. 2024 Number 2023 Number 10 Employment Costs 2024 2023 Wages and salaries Social security cosls Other pension costs 204,273 12,503 4,311 143,010 7.017 2.713 221.087 152.740 Wages and salaries in the current year include £nil funded by gfants12023 - £14,523). The full payroll cost is shown above. Staff costs were unusually low in 2023 because of the lime taken lo replace departlng senior personnel. A more valid Gomparlson is wilh 2022 when total staff costs amounted lo £200,053. There were no employees whose annual remuneralian was more than £60,000. R•muneratlon ol key management personnel The remuneration of key management pefsonnel is as follows. 2024 2023 Aggregate compensation 54,061 51,682 10 Galns and losses on Investments Endowment Endovmi•nt funds lund• 2024 2023 Gainslllossesl arlsing on.. Revaluation of investments (2.144) {3,123) 11 Taxation The charity 15 exempt from taxation on its activities because all its income is applied for charilable purposes. 23-
Docusign Envelope ID". 17F077DC-A21A.455A-8F86.E26CBDF20AD5 ST BARBE MUSEUM ANDART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tanglble flxed a880ts L•asehold FITr5 and improv•m•nts flttlngs Office equlpment Gallery equment Totsl Co•t Al 1 April 2023 Additions 1.560.841 189.297 7,585 20.647 363 18,613 3.797 1.789,398 11,745 At 31 March 2024 1.560,841 196.882 21.010 22,410 1,801,143 Depreciation and Impairnient Al 1 April 2023 Depreciation charged In the year 156,085 31,217 141,349 29,240 15.298 2.095 2,348 3,823 315,080 86,375 Al 31 March 2024 187.302 170.589 17.393 6,171 381,455 Carrylng amount At 31 March 2024 1,373,539 26,293 3,617 16,239 1,419,688 Al 31 March 2023 1.404.756 47,948 5.349 16,265 1.474,318 -24-
Oocusign EnTrfelope ID.. 17F077DC-A21A455A-8F8&E26C6OF20ADS ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Fixed asset investments Llsted Other Investrnents investment$ Total Cost or valuation At 1 April 2023 Additions Valuation changes Other movements Disposa15 85.672 80.000 3,853 602 186,265) 100 85.772 80,000 3,853 602 186,265) Al 31 March 2024 83,862 100 83,962 Carrying amount Al 31 March 2024 83,862 100 83.962 Al 31 March 2023 85,672 100 85,772 2024 2023 Olher investments comprise.. Note8 Investments In subsidiaries 20 100 100 The listed inveslmenls relate to the endowmenl fund. During the year, the endowment funds were moved to a new provlder where thè emphasls Is on responslble investrnent. The Sl. Barbe Trading Company Limited, our Irading subsidiary, exists lo undertake non-charilable aclivllies in order lo generate income from the sale of goods. 14 Debtors 2024 2023 Amounts falllng due wilhin one year: Trade debtors Other debtors Prepaymenls and accrued income 9,563 78,373 12,903 6,915 34,226 10,706 100,839 51,847 Other deblors include £57,934 of grant income relating to 2024 bul not received until after the year end 12023 - £17,116) and £4.439 of exhibitson tax uedit also received after the year end12023 - £2.0931. 25-
Oo¢usi9n Envelope ID.. 17F077DC-A21A455A-8F86.E26CBDF21JAD5 ST BARBE MUSEUM ANDART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Creditors: amounts falling due wlthln one year 2024 2023 Other laxation and social security Trade creditors Amounts owed lo subsidiary undertakings Other creditors Accruals and deferred income 10,293 19,866 39,646 2,655 77,194 5.075 9,488 86,268 1,797 22,821 149,654 125,449 Oeferred Income include5 £51,975 received in respect of the Lymington Afloat project whlch takes place after the year end. 16 Endowment funds Endowment lunds represent long term inve5tm8nls held with the Cazenove Charlty Responsible Multl-Asset Fund for a specific number of years after which drawdown of the capital sum will be available. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At 1 Aprll 2023 Incomlng Resources resources expended Galns and Al 31 MJrch losses 2024 Expendable endowments Endownmenl fund 86,006 (2,144) 83,862 Prevlous year: Incomlng resources Re8ource8 expended Galns and Al 31 March losses 2023 2022 Expendable endowm?nl• Endownment fund 89,203 140 {2141 (3,123) 86,006 17 Retlfement beneflt g¢hem•• Defined contribution schemes The charity operates a defined conlribulion pension scheme for all qualifying employees. The assets of Ihe scheme are held Separately from those of the charity in an independently administered fvnd. The charge lo profil or loss in respect of defined contribution schemes was £4.311- (2023 - £2,713). ConlTibulions which are unpaid a5 at the balance sheet date total £883 (2023 - £809). 26-
ilynEnwlqw 10." 17F0770SA?IA45SA4Fo&e20CBV2QADg ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 l• R••ldct•d l¥nd• Tha $1lled fund8 ol the chBAty 0jmle tho unt1pded balanc•8 ol donatic*)s and grnnls held on Inisi ¢dIOn8 by donors as lo how Ih¢y #wy tre used. o¥•m•r+i In lund• lTrr47fflin• Mov•m•nt In lundi Ineornln• 1 Aprfl iaiz i Aprti ioiJ DxpnnéBd JI hlbroh 1014 The Ful¥r• of $18irbq IL•i••hllld irnprDv•m•niil Coh Ho•rd Fvnd Cqmlc Cc4n Ho8rd Fund C8nl see the Arts forth• Trn•s IArtI C(4Jndll Gallery Eoulpm•ni N•iion•l Ltery H•rfl•g8 Fund HIWCF- Th¢ S•iurdty Club TnJ8t 1.J71.728 16.148 2D.3Q9 11.736 169.3741 I,J19.354 18.141 160,1041 1,259.170 18.14B 12,3081 11&,LlJ31 33.800 3B,025 Ib,285 138,0251 13.7651 Ib2,5011 17451 11.7381 18,rAJ 8.987 82.502 8.771 19.467 1,426.921 50.910 1,389.792 98.260 1IBS.2211 1.300.831
enwhip• ltr. 17F0770&h21A45SA4F8&e26CBOF20A05 ST BARBE MUSEUM ANO ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 lund la h rnspeci of Ihe'Fulur• ol Si 8•rt>e ProloGI' lo lrnprD¥• publ£ B•Th•i 4n¢J nh lh• Si ts•• tnnuo, fjn•blln9 lh• LYq•nl¥•llon io b• rnor• f•U•nI In Iht long lerm. Mwles donated spedfjcally for th• acqul$lUpn and display of (dledlon¥. Thls lund 1$ In rnip•cl of Cound fundlng to h•lp lh• mumum Ixo•d•n dIv•rty •u¢Jffic• ind to d•wdlop •n for th¢ fflumum •nd Ill tlr•I ¢¥pertonceo * lh• Now Fw•. Th• lund VAII help 10 adw•r • rnn8• ol Ph¢11 •nd Artu•l e¥•nlo, 4dl¥lU•i •nd workihOPS In ¢¢nwIlTh llh wr p•rtn•d ovr 510r5. Monles IransleNed Irom ihe Cenic Ho8r¢l Fundlw lh• 1ouidtion ol di¥•Y and gr4phks equipfflenl. Thi¥ lun¢Jino 181¢5 10 o prolecl to 1¢1 rfjThfflurtllk$ ¥Mih th¢ir hert9¢ •nd Btrenglhen c•rnrnunlty DwDwlp of ¢dl•tkns. Th• •lm Is its •dlvely onU9• PNcJpalion by ouireach woyk in th• community Mtt4ng$ and iryeitd Évent8 ai the Muoeum. Co••boraiknn *iih Saiurday ChJbTrv81 lund•d ty HIWCF.
ITr. l?F0770tsA?IA4SSkn•F•&E26e8DF20ADS ST BARBE MUSEUM AND ART GALLERY NOTES TO TNe FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDEO 31 MARCH 2024 19 Anal1* of net b•r4¥••n lunds Unr••irlctrt A•Alrlct•d End(MTnafit fundx. lund• 20?4 Totsi Unr•slrtr¢•d lunds fundi lundl a024 24 2023 2023 202) 2D23 Fund balances al 31 March 2024 are r•pre$enl¢d by.. n911I1 aa8•18 In¥esimenii c•nI 4•6•lWlllatrAfid•¥l 141,031 100 13,428 1,278,6S7 1.419.688 13.902 35.000 138,700 100 9,754 1,335.61 1,474.31 85,772 64.262 85,871 334 22,174 54.174 154.$57 1,300.8JI 8).862 1.539.250 148,554 1.3B9.792 1,624.352 .29.
Docusign Envelope JD.. 17F077DC.A21A455A_8F86_E26CBDF20ADS ST BARBE MUSEUM AND ART GALLERY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Subsldlarfes Details of the charity's subsldiary 8131 March 2024 15 05 lollt)WS'. Name of undertaking Registered office Nature of business Clasg of Y. Held shares hèld Dlrecl Indirect The St. Barbe Trading St Barbe Museum Running gift shop at St Barbe Ordinary Company Limited New Street Museum Lymington Hampshire S0419BH 100.00 The aggregate capital and reserves and the result for Ihe year ol subsidiaTies exduded from consolidation was a5 follows.. Name ol undertaking Prolltl{L0s6) Copital Ind ReJerv•ty The St. Barbe Trading Company Limited 15.884 1,671