OCTAVIA HILL BIRTHPLACE MUSEUM TRUST imited b Guarantee ort and Financiydl Statements lor the Year Ended 5th A ril 2024 Registered Charity Number 1018947 Registered Company Number 2797996
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Contents of the Financial Statements for the Year Ended 5th A ril 2024 Page Legal and Administrative Information Report of the Trustees and Directors 2to6 Report of the Independent Examiner Statement of Financial Activities Balance Sheet Statement of Cash Flows io Notes to the Financial Statements 11 to 18 Ineome and Expenditure Account 19to20
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Com anv Information for the Year Ended 5th A ri12024 TRUSTEES AND DIRECTORS: Mrs P M Williams R S G Barnwell Mrs S M Ja¢kJnan MBE l J Grootne D E Crouch M Knight MBE DL D S Denson Ttk Appointed 0810412024 SECRETARY: Mrs S M Jackman MBE REGISTERED OFFICE: 7 South Brink Wisbech Cambs PE13 IJB COMPANY NUMBER: 2797996 (England and Wales) CHARITY NUMBER: 1018947 INDEPENDEIYT EXAMINER.. TC Group 9110 The Crescent Wisbech Cambs PE13 IEH BANKERS: Lloyds Bank 3 North Brink Wisbech Cambs PE13 iJr
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST REGISTERED NUMER: 1018947 (Registered Coffipany number 2797996) ort of the Trustees for the Year Ended 5th A ril 2024 The Trustees who are also Directors of the charity for the purposes of the Companies Act present their annual report and the fmancial statements of the company for the year ended 5th April 2024. The fman¢ial statements cornply with the Charities Act 2011 ('the Act,). The Companies Act 2006. and Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable io charitÈes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). LEGAL STATUS The charity is conStited as a company limited by guardntee and is therefore governed by a Memorandum and Articles of Association. The company is a registered charity. OUR AIMS AND OWECTIVES Purposes and aims Our charily's purposes as set out in the objects contained in the company's Memorandum and Articles of Association are those of educating the public about the life and works of Octavia Hill and esthblishing and maintaining a public museum by undertaking exhibitions; and to advance public education in housing and its overarching social aspects. Ensuring our Ivork delivers our aims As a volunteet organisation working in the present ditTicult economic, geographic and social environment we still continue to review. monitor and assess our operations to ensure the lonE-teTm sustainability of the Birthplace House. The strategy remains lo cul costs, increase income, and improve the visitor experience. To achieve this we continue to develop management and administrative skills through increased trnstee involvement and the recruitment of additional trustees and volunteers, particularly those with specialisi skills. The focus of our work Our main objeclives thts year have been to: Continue to identify and develop new annual income streams. panicularly with events and classes throughout the year To add new Trustees with a rnige of experience to provide leadership and guidance to the Trust Improve and create new displays to promote repeal visiiors. with emphases on interactive learning and InteretatiOn Broaden the core visitor base both geographically and demographically To monitor all costs and procedures Target local and natiollal schi)ols and organisations io increase virtual or actual visits. Promoie the National Anny Cadei Force Museum. In March 2023 the Wisbech Community Hub was relocated into part of ihe Birthplace House the Birthplace. It is now a fully integrdted part of the Birthplace House and h&s help¢d to re-invigorate volunteer and visitor bas. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT Our main activities and who we ty to help are described below: Who used and benefited from our service5 The Trust as a public museum continues to provide its services to individuals, groups and organisations at a local, regional. national and international level, including disabled. disadvantaged and marginalised people. Its activities aim to reflect the full range of Octavia Hill's own inlerests and achievements, all of which were of detnonstrdble public benefit. Page 2
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST REGISTERED NUMBER: 1018947 (Registered Company number 2797996) ort of the Trustees for the Year Ellded 5th A ril 2024 Ancillary activities Th¢ museum has continued to support the many people and organisations liaising where possible with various elements that comprise Octavia's living legacy such as the social housing movement. the National Trust and the Arn]y Cadets. Our knowledge and experience is available for general advice or to give help ill specific projects or partnerships. Building and maintenance work has continued throughout the period. Outreach The trust is a community resource. Run by and for its volunteers it is recrniling individuals who benefit from engagement with our operations. We outreach via external lectures and in-house education offerings. FIINANCIAL REVIEW Targets for visitor numbers, groups and school visits remained challenging due to multiple external factors. The TSteeS believe that constraints on education budgets are part of this. as are various economic factors. The Statement of Financial Activities shows a net deficit of expenditure over income for the year amounting to £27,514 and our reserve5 sthnd at £1,653,314 in tolal. The museum reopened on a very restricted scale for the summer of 2023 at 3 day a week. The number of visitors was minimal, so little income was accrned. The exterior of the House had become to look very run down so early in 2023 the Trnstees decided to use SOTne of an earlier bequesi to have the paintwork re painted and some other pressing repairs made internally and externally. Some £42k was spent on this work plus £7k earlier in the fmancial year. It is not expected that such expenditure will re-occur in the next few years. The Trustees decided early in 2024 that the paid Caretakerrole could b¢ managed by volunteers and the long tenn caretaker was made redundant. Principal Funding Sources We continue to receive donations from individuals. trusts and organisations for specific projects including display creation and improvement. Restri¢ted funds from legacies are spent on their projects when appropriate. Investment Policy The Trustees have wide powers of investhienl although only bank deposits have been utilised at present. Reserves Policy Revenue reserves cuentlY stand at £1.653.314. Restricted Funds are ring-fenced. PLANS FOR FUTURE PEIUODS We plan to source and task more volunteers with a particular emphasis on supporting family learning and intellectual access for children and young people, and increasing the diversity represented in the museum galleries. Community use of the Centenary Green (which is nornially open lo all). Identifying and implementing appiopriate management initiatives has been problematic. The TnteeS are planning to implement a project that will help integrate the homeless people who sleep under Fenland District Council auspices in the adjacent old White Lion Hotel to build a sense of ownership a5 Octavia Hill's philosophy. Funding is being sought for this project. In December 2023, an Anglian Water watermain suddenly burst under South Brink, just outside the main entrance. This caused flooding in the basement of over 70cms of water depth. Anglian Water athnitted full liability and sent a team to dry out the basement and reinstate the decorations. The basement contains one of the House's major displays of life of the poor tn London in the 19 century. The flood completely disabled the lift which was parked in the basement as peT manufacturer's instructions and it was found to be ]eparable. After sotne discussions with loss adjusters and claims handlers, Anglian Water agreed to pay the costs of removing the old lift and replacing it with a new similar lift. The cost of this will be over £50k and the work is expected to be completed in November 2024. The House has managed, with restrictions to access, throughout the season. Page 3
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST EGISTERED NUMBER: 1018947 {Registered Company number 2797996) Re ort of the Trustees for the Year Ended Sth A ril 2024 The Tearootn has opened on a limited basis due to lack of volunteers during the summer. A more pennanent solution by volunteers or franchise is being sought. The two rooms are dedicated to the National Arniy Cadet Force Museum have proved popular with both Cadets and civilians alike. The areas have been further updated with improved interactive inforniatton points and new displays in the enlarged area. A forn]al opening in September 2023. attended by National figures took place during the year and a Royal visit is expected towards the end of 2024. Octavia Hill was a pioneer of the Army Cadets so this is a most appropriaie use of the Birthplace House. Ensuring our work delivers our aim As a volunteer organisation working in the todays diificult economic. geographic and social environment including the after effecib of the Covid Pandemic, we continue to review, monitor and assess our operations to ensure the long-tenn sustainability of the Birthplace House. The strdtegy reillS to cut ¢OSts, increase income and improve the visitors, experience. The focus of our work To take whatever steps necessary to increase the usage of the Birthplace House by increasing footfall to the Museum, the Café, The Community Hub and National Arn]y Cadet Force Museum. Page 4
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST EGISTERED NUMBER: 1018947 (Registered Company number 2797996) ort of the Trustees for the Year Ellded 5th A ril 2024 STRUCTURE. GOVERJYANCE AND MANAGEMENT Governing Document The organisation is a charithble company limiied by guarantee. Th¢ company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. As a limited company Octavia Hill Birthplace Museum Tt is governed by its members. The Council of Trustee5 are elected by ihe Members at a Generdl Meeting. TnleeS can also co-opt additional Trustees to the Council, who must subsequenily be elected by Memb¢rs ai the General Meeting. All the exisling Trnsiees have been elected by Members at a General Meeting. Recruitment and Appointment of Council of Mallagement (frustees) The directors of the company are also charity trustees for the PUTpose of charity law and under the company's Articles are known as members of the Council of Management. Under the requirements of the Memorandum and Articles of Association the members of the Council of Managemeni are elecied to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. All Trnstees give their time voluntarily and received no benefits from the charity. Any expenses claimed from the charity are set out in the notes io the financial statements. During the year one Trusiee. Mr Julian Snape. died in post and Mr P Griffiths resigned. At the end of the year Mr David Denson joined as a Trustee. Trustee Induction And Traillillg Most of the Trustees have been involved with the Birthplace House development and expansion for years and offer their extensive experience of involvement with other charities. Risk Management An ongoing risk managemenl process enables trustees to monitor operntional and strategic issues. Sustrinability issues are reviewed regularly. Establishing reserves and suifIcient fmancial and human resources to mitigate the effects of adversity remain a key aim with effective oversighi and development of administrative procedures. Procedures are reviewed to eosure the health and safety of staff. volunteers. cliens and visitors to the centre. Organisational Structure The Octavia Hill Birthplace Museum Trust h&8 a council of up to 8 members who meet quarterly and are responsible for the strategic direction and policy of the charity. Ai present the council bas 7 members from a variety of professional backgrounds relevant to the work of the charity. Additionally the Curdtorial Advisor and Honorary Archivist are co-opted. Page 5
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST EGISTERED NUMBER: 1018947 (Registered Company number 2797996) ort of the Trustees for the Year Ended 5th A rii 2024 RESPONSIBILITIES OF THE TRUSTEES The Trustees are responsible for preparing the fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (Unil¢d Kingdom Generdlly Accepted Accounttng Practice). Company law requires the TTUStees lo prepare financial statements for each financial year which give a trne and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure. for the fman¢ial year. In preparing those fanCIal statements, the Trustees should follow best practice and: select suitable accounting policies and then apply ihem consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prndent. state whether applicable UK accounting standards have been followe subject to any material deparbjres disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is not appropriate to presume that the ompany will continue in busine&s. The Trustees are responsible for maintaining proper a¢counting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them lo ensure that the fInancial slatements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. Members of the Council of Management Members of the Council. who are directors for the purpose of company law and tnteeS for the pury)ose of charity law, who served during the year and up to the date of this report are set out on page l. In a¢¢ordance with company law, as the company's directo[5, we certify that: so far as we are aware, there is no relevant infonnation of which the company's independent examiner is unaware; and as the directors of the company we have taken all the steps that we ought to have iaken in order to make ourselves aware of any relevant inforniation and to establish that the charity's independent examiner is aware of that infonnation. Approved by the Trustees dated............................. 2nd signed on its behalf by: P Williams- Director and Trnstee Page 6
Inde endent Examiner's Re ort to the Trustees of OCTAVIA HILL BIRTHPLACE MUSEUM TRUST I report on the accounts of the charity for the year ended 5 April 2024, which are set out on pag¢s 7 to 17. Respective responsibilities of trustees and examiner The charity's Trustees (who are also Directors of the company for the PUTPOSes of company law) are responsible for the preparaiion of ihe accounts. The charity's Trustees consider than all audit is not required for this year under section 144(2) of the Charities Act 2011 ("the Acl") and that an independent examination is needed. Having satisfied tnyself that the charity is not subject to audit under company law and is eligible for independent examination, il is my responsibility to- exan]ine the accounts under section 145 of the 2011 ACL to follow the procedures laid down in the General Direction5 given by the Charity Commission under section 145(5) (b) of the Act. and to state whether particular matters have come to my attention. Basi5 of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trnstees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the account5 present a 'tTue and fair, view, and the repon is limited to those matters set Oui in the statement below. Independent examiner's Statement In connection with my examination, no matter has come to my attention: ( l} which gives me reasonable cause to believe that in. any material respecL the requirernents.. to keep accounting records in accordance with section 386 of the Companies Act 2006: and to prepare accounts which accord with the accounting records, Comply with the accounting requirement of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recomtnended PractE¢e: Accounting and Reporting by Clwities have not been meL or (2) to which, in my opinion, attenlion should be drawn in order to enable a proper undersLgnding of the accounts to be reached. C L Smtthee FCCA TC Group 9110 The Cresceni Wisbech Cambs PE13 IEH Date Page 7
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Statement of Financial Activities in¢ludin Income and Ex for the ear ended 5th A ril 2024 enditure Account 5.4.24 5.4.23 Unrestrieted Restrieted Endoivment Total Total Notes Income: Donations and grants- Donations etc Grants 782 782 16,094 1,878 4,176 16.094 Income from other trading activities: Rents received Other income 3,500 1,186 3.500 798 1,186 Income from charttable activities.. Admissions, sales and other income 8,113 8.113 1,674 Bank Interest 3,076 3,076 2.394 Total income 16,657 16.094 32.751 14,420 Expellditure: Costs of raising funds.. Costs of generating donations and grants 1237 1,237 Expenditure on charitable activities 49,771 1229 50,999 82,442 Governance costs 1,433 6595 8,028 6,242 Total expenditure 52.441 7024 60,265 88,684 Net incomel{expenditure) and net movement in funds for the year {35,784) 8.270 (27.514) {74,264) Net movement in fund5 for the year (35,784) 8,270 {27,514) (74,264) Reconeiliation of funds Total funds brought fonvard 236,947 40.772 1,403,109 1,680,828 1.755.092 Total funds carried forTvard 201,163 49,042 1.403,109 1,653J14 1.680,828 The statement of financial activities includes all gaius and losses in the year. All incomiug resources and resources expended derive from eontilluillg activitie5. The nOS on pages 10 to 17 fonn part of the accounts Page 8
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST stered Chari Number: 1018947 IRegistered Company Number 2797996) Balance Sheet asat5thA ril 2024 5.4.24 5.4.23 Notes Fixed assets: Tangible assets Heritage assets Investments 7.532 1,489,688 loo 9.415 1.489,688 loo Total Fixed Assets 1.497J20 1,499.203 Current assets: Debtors Cash at bank and in hand io 21,508 135,962 27.532 160,745 Total Current Assets 157.470 188,277 Liabilities: Credffitots falling due within one year li 1,476 6.653 Net Current Assets 155,994 181,625 Iyet Assets 12 1,653J14 1.680,828 The funds of the charity: Unrestricted flmds Restricted funds Endowment funds 13 201,163 49,042 1,403.109 236,947 40,772 1,403.109 Total charity funds 1,653J14 1,680,828 These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The company is ¢ntitled to exemption froln audit under section 477 of the Companies A¢t 2006 for the year ended 5th April 2024. Members have not required the company to obtain an audit in accordance with section 476 of lh¢ Companies Act 2006. The Trusttts acknowledge their responsibility for. (a) ensuring that the company keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the conipany as at the year end of each financial year and its profit or loss for each financial year in accordance with requirements of sections 394 and 395 and which otherwise comply with the requirements olthe Companies A¢¢ 2006 relating to financial statements, so far &8 applicable to the company. Approved by the Board of trustees on .........-................... and signed on its behalf by: P Williams - TTUStee Page 9
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Statement of Cash Flows for the ear ended 5th A ril 2024 5.4.24 5.4.23 Net incomel(expenditure) for the reporting period (as per Statement of Financial Activities) {27,514) (74,264) Depreciation charge (Gains)Ilosses on investments Dividends and interest from investments Lossllprofit) on disposal of red assets (Increase)Idecrease in stocks (Increase)Idecrease in debtors Increasel{decrease) in creditors 1.883 2,301 6,024 (5,176) (7,495) 293 Cash used in operating activities {24,783) (79,166) Cash flow from investing activities Interest and dividend income Purchase of tangible fixed assets (2,500) Proceeds from sale of investments Cash provided by (used ill) investing activities (2,500) Cash flow from financing activities Increase (decrease) in cash and casb equivalents in the year {24,783) (81,666) Cash and cash equivalents at the beginning of the year 160,745 242,411 Total cash and cash equivalents at the end of the year 135,962 160,745 Page 10
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statements for the Year Ended 5th A ril 2024 ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prnctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) {Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companie5 Aci 2006. Octavia Hill Birthplace Museum Trnst meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historic C05t or transaction value unless stated in the relevant accounting policy note. Income Voluntary income and donations are accounied for as received by the charity. Provision is included for any. material associated tax credit which may be repaid to the charity as a result of Charitable Gift Relief. Pern]anent endowrnent grants are dealt with through the Statement of Financial Activities when receivable. Resources Expended Resources expended are included in the Striement of Financial Activities on an accrual's basis. inclusive of any VAT which cannot be reclaimed. Expendittire which is directly attributable io specific activities has been included in these categories. Where costs are atlributable to more than one activity. they have been apportioned across the cost categories on a basis consistenl with the use of these resources. Tangible Fixed Assets - Depretiatio No depreciation has been provided on Herilage assets, including improvements to the original properties, because in the opinion of the Trnstees, the residual value will be in excess of the canying value. Office and museum equipment is depreciated at 20 % on the reducing balance basis in order to write off each asset over its anticipated usefiEI life. Tangible Fixed Assets - Grants Grants and contributions relating to infrastructure assets at the original museum building of I South Brink Place, have been d¢ducl¢d from the cosi of fixed assets. This is not in accordance with the Companies Act 2006, which requires fed assets to be shown at their purchase price or production cost and hence grants and contributions would be presented as deferred income. This departure from the requirements of the Act is, in the opinion of the Directors and Trustees, necessary for the financial statements to give a true and fair view as no provision is made for depreciation and any grants and contributiODS relating to such assets would not be taken to the income and expenditure account. Material granls receivable in respect of other tangible fixed assets are treated as incoming resources and are shown within the Sialement of Financial Activities. Tangible Fixed Assets- Heritage Assets The Binhplace House was built aboul 1740 on Wisbech's South Brink and is a Grdde II* listed building. The original building had been extellsively subdivided since the Hill family left Wisbech. I South Brink Place - This part of the building comprising the souibern most part was acquired in 1994 and became the rst museum. It is reported in the balance sheet as a tangible red asset. It is stated at original purchase price plus subsequent restoration work at cost less grants received as staled above. Pagell
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statemellts for tbe Year Ended 5th A ril 2024 7 & 8 South Brink- In 2007, the Trust purchased the rest of Octavia Hill's Birthplace House. Funded by various grants and fundraising appeals. The whole building was then restored into its original undivided state as part of the reunification project that was completed in 2009. It is reported in the balance sheet as a tangible fed asset. It is stated at original purchase price plus subsequent resioration work at cost. 2 & 2A South Brink Place - The adjoining properties lo the Birthplace Museum became available in 2009 and were purchased in order to be able to extend Museum facilities with a tearoom and other rooms which could be utilised to generate rental income for the museum in the future. These properties are reflected in the balance sheet as a tangible fixed asset and are stated at original purchase price plus subsequent restoration work at cost. The Trustees consider that a conventional valuation approach would lack suificient reliability given the fact that the property comprises a birthplace house. and that even if valuations could be obtsined. the costs would be onerous ¢ornpared with the additional benefits derived by the Museum and users of the accounts. The assets are therefore stated at cost. The House contains numerous exhibitions and household items. Acquisitions are norn]ally made by purchase or donation. Purchases are initially recorded at cost and donations at current value where possible. The Trustees have not obtained valuations of these as a valuation could not be obtained at reasonable cost because of the size and diversity of the collection. Expenditure which in the Trustees, view is required to preserve or prevent further deterioration of individual items, including preservation work to the Birthplace House is recognised in the Statement of Financial Activities when it is incurred. Taxatioll Corporation is not provided for in these accounts. The Trusl is a registered Charity and is not liable to Income or Corporation Tax. Value Added Tax is not recoverable by the charity and as such is included in the relevant costs in the Income and Expenditure Account. Display Costs Expenditure in relation to museum displays is written off to the tncome and expenditure account in the year in which it is incurred. Leasing Commitments Rentals paid under operating leases are ¢harged to the income and expenditure account over the period of the lease. Group Accounts The company is exempt from the obligation to prepare Group Accounts by virtue of the provisions of the Companies Act 2006. Fund Accounting Unrestricted funds- These can be used in accordance with clwitable objects at the discretion of the Trustees. Restricted funds - These can only b¢ used for particular restricted purposes within the objects of the ch8rity. Restrictions aTise when specified by the donor or when funds are raised for particular restricted PU0$eS. Further explanation of the nature and purpose of each fid is included ill the notes to the fmancial statements. Endowm¢nt nds- Capital grants receivable in respect of the reunification of 7 & 8 South Brink, I South Brink Place and 2 & 2A South Britth Place have been treated as Endowment Funds. The Trustees Consider these grants to be of a pem]anenl fuThding nature and specifically restricted to this project. Th¢r¢ are various repayment conditions applicable if the properties are sold. Page 12
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statements for the ear ended 5th A ril 2024 Donations and grants Unrestricted Restricted 5.4.24 5.4.24 Endowment 5.4.24 Total 5.4.24 Total 5.4.23 Donations - General Donations - Friends of Octavia Grant- ACF 162 620 162 620 16,094 184 1,694 4.176 16.094 782 16,094 16,870 6,054 Income from charit2ble activities Unrestricted Restricted Endowment 5.4.24 5.4.24 5.4.24 Total 5.4.24 Total 5.4.23 Museum admissions Letting of museum & education rooms 2.487 5,626 2,487 5,626 754 920 8,113 8,113 1,674 Page 13
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statements for the ear ended 5th A ril 2024 4. Total expenditure 5.4.24 Total 5.4.23 Total UR UR UR Costs directly alloc8ted to 2ctivittes M3rketin&T and activiti¢s SubsLripiions Event costs Accountsncy a[ pmfe5sional fees Piano cosis 775 77S 139 132 139 1,433 1,433 1.098 3.191 D 1.1198 170 Support cosrs allocted io ¢ilvilies T¢lephon¢ Siaiionery,priniing ae Clvdnin 1,244 1.184 534 350 8.051 49,965 181 1.984 io 767 6.442 2.301 165 150 150 9.095 9,412 1.266 38 10 247 8J16 1.883 J2 17,472 5.225 2,284 Insuran Repairs and renewals Sundry expenses IT softwar¢ and consumables 2,817 1366 595 Rent Ra1¢5 and waier 247 8J16 654 12 17,472 5325 Lib*hi and heal Jkpreciaiion Ini¢rtti Paid 258 Mus¢um ser¥ices 5.561 4.752 W&¥$ Write off of old balancES TOTAL RESOURCES EXPENDED ,237 49,771 1.433 258 &595 57,981 88,684 D Direct a]location U Usage all(Lation T Transartion5 a]location UR Unr¢siri¢ttsJ R Restried Page 14
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statements for the ear ended 5th A ril 2024 5. Net incomel(expenditire) for the year This is stated after charging: 5.4.24 5.4.23 Depreciation - owned assets Accountancy and other services 1,883 1,433 2,301 3,191 Analysis of staff Costs, trustee remuneration and expenses. and the cost of key management personnel No remun¢ration was paid to trusiees in the year or in the previous year. nor were any expenses reimbursed to them. 5.4.24 5.4.23 Staff cost5 Museum services Salaries and national insurance 17,472 5.225 5,561 4,752 5.4.24 5.4.23 The average montbly number of employees during the year was as follows: Trustees Staff 7. Tangible fixed assets Office alld museum equip 2023 Totals Cost: At 6th April 2023 Additions Disposals 159,520 159,520 At 5th April 2024 159,520 159,520 Depreciation: At 6th April 2023 Charge for year Eliminated on disposal 150,105 150,105 1,883 1,883 At 5th April 2024 151,988 151,988 Net book value: At 5th April 2024 7,532 7,532 At 5th April 2023 9,415 9,415 Page 15
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Financial Statements for the ear ended 5th A ril 2024 Heritage assets I South Brink Place 7&8 South 2&2A South Brink Brillk Place 2023 Totals Cost: At 6th April 2023 Additions 90,754 914J20 484,614 1,489,688 At 5th April 2024 90,754 914J20 484,614 1,489,688 Depreciation: At 6th April 2023 Charge for year At 5th April 2024 Net book value: At 5th April 2024 90.754 914,320 484,614 1,489,688 At 5th April 2023 90,754 914.320 484.614 1,489.688 At 5th April 2022 90,754 914,320 484,614 1,489,688 At 5thApril 2021 90,754 914.320 484.614 1,489,688 At 5th April 2020 90,754 914,320 484,614 1,489,688 At 5th April 2019 90.754 914,320 484,614 1,489,688 The majority of the heritage assets are subject to security arrangements with the llders to the project. Investments Unlisted investments 2024 Totals Cost: At 6th April 2023 and 5th April 2024 loo loo Net book value: At 5th April 2024 loo loo Ai 5th April 2023 loo loo Page 16
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to the Fillancial Statement for the ear ended 5th A rii 2024 The charitys investments ai the balance sheet date in the share capitsl of companies include the following: Oetavia Hill Trading Limited County of incorporation: England Nature of business: trading activities of Octavia Hill Museum Class of shares: Ordtnary holding loo.00 5.4.24 5.4.23 Aggregate capital and reserves Profitl(Loss) for the year (2J90) 851 (3,242) (3,211) 10. Debtors 5.4.24 5.4.23 Other debtors Prepayments Inter cornpany account balance 3,830 112 17,566 2,631 112 24,789 21,508 27,532 I l. Creditors falling due within one year 5.4.24 5.4.23 Other creditors Accruals Receipts in advance 113 lJ63 1,066 2,812 2.775 1,476 6,653 12. Analysis of net assets between funds Unrestrieted General Funds Restricted Funds Endoivment Funds Total Funds Tangible fixed assets Heritage asscts Fixed asset investment Current assets Current liabilities 2,615 87,617 loo 112J07 (1,476) 3.879 1,038 1,402,071 7,532 1,489,688 loo 157,470 (1,476) 45.163 201,163 49,042 1,403,109 1,653,314 Page 17
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Notes to Ihe Finalleial Statement for the year ended 5th A ril 2024 13. Analysis of eharitable funds At 6 April 2023 At 5 April 2024 llleome Expenditure Unrestricted Funds General reserve 236.947 16.657 52,441 201,163 Total unrestricted funds 236,947 16,657 52,441 201,163 Restricted funds 40,772 16.094 7,824 49,042 Total restricted funds 40,772 16.094 7,824 49,042 Endowment fLmds 1,403.109 1,403,109 Total endowment funds 1,403,109 1,403,109 Total funds 1,680,828 32.751 60,265 1,653,314 14. Contingent liabilities Should the heritage assets ever be sold. the capital grants received are subject to various repayment conditioDS. The value of the capital grants received as at 5 April 2024 were £1.403,109 (2023: £1.403,109). 15. Other financial eonunitmellts At 5 April 2024 the Trust had an annual con)mitmenl under a 99 year opernttng lease in respect of Centenary Green, Somers Road, Wisbech amounting to £10 per annum. The lease expires in 2111. 16. Related party transactions The charity receives rent from the properties known as 2 & 2A South BrinK Wisbech and part of 8 South BrinL Wisbech from it's subsidiary Octavia Hill Trading Limited, under a lease agreement which commenced on l November 2008. The rent due is £3,500 per annum and is reviewabl¢ every 5 years for a tern] of 20 years. During the year the charity received rent amounting lo £3,500 (2023: £3,500). The charity is a company limited by guarantee, and is under the control of the Directors. who a also Trustees. Page 18
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Income and Ex enditure Account for the ear ended 5th A ril 2024 5.4.24 5.4.23 Turnover Donations - General - Friends of Octavia -ACF 162 620 16,094 2,487 5,626 184 1,694 4,176 754 920 Grants Museum admissions Letting of museum & education rooms GROSS PROFIT 24.989 7,728 Other income Interest Other income Rents received 3,076 1,186 3,500 2.394 798 3,500 Carried fonvard 32,751 14,420 Page 19
OCTAVIA HILL BIRTHPLACE MUSEUM TRUST Income and Ei enditure Account for the ear ended 5th A ril 2024 5.4.24 5.4.23 Brought fonvard 32,751 14.420 Expenditure Telephone Stationery.prinling and postage Markettng and advertising Event costs Training Insurance Repairs and renewals Subscriptions Cleaning Sundry expenses IT sofiware and consumables Accountancy Legal and professtonal fees Rent Rates and water Light and heat Museum services Wages Piano Costs Write off of old balance 1.244 165 775 1.184 534 132 3,111 12 9,095 9,412 139 150 1,266 38 1,433 1.098 io 247 8J16 17,472 5,225 8,051 49,965 350 181 ,984 3.191 10 767 6,442 5,561 4,752 170 2,284 58J82 86,383 (25,631) (71,963) Display Costs (25.631) (71,963) Depreciation otYi¢e and rnuseum equiprnenl 1,883 2,301 (27,514) (74.264) Loss on disposal of fixed assets Office and museum equipment NET INCOMEI(EXPENDITURE) FOR THE YEAR (27,514) {74,264) Pages 18 and 19 do not forni part of the slatutory financial statements Page 20