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|Contents||||||
|---|---|---|---|---|---|
||||||Page|
|Trustees'<br>Report||||||
|Reference and administrative<br>details ofthe charity,|||its trustees|and advisers||
|Independent<br>Examiner's||Report||||
|Statement ofFinancial||Activities||||
|Balance Sheet|||||13|
|Notes to the financial|statements||||14|





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|Trustees||||Mr Andrew Cooper|Mr Andrew Cooper||
|---|---|---|---|---|---|---|
|||||Ms Nicole Amil|||
|||||Mr Edgar Halton|(resigned September|2021)|
|||||Ms Kate Richards|||
|||||Ms Caroline Skelton|||
|||||Ms Abigail smith|||
|||||Mr David Wills|||
|Secretary||||Ms C Skelton|||
|Company|registered||number|02764633|||
|Charity registered||number||1025390|||
|Registered|office|||529 Babbacombe|Road||
|||||Torquay TQ1 1HG|||
|Accountants||||Francis Clark LLP|||
|||||Sigma House|||
|||||Oak View Close|||
|||||Edginswell<br>Park|||
|||||Torquay TQ2 7FF|||
|Bankers||||Lloyd s PLC|||
|||||S1-62Fleet Street|||
|||||Torquay TQ2 SDW|||
|Solicitors||||Wollens|||
|||||At Harbourside|||
|||||67The Terrace|||
|||||Torquay|||
|||||TQ1 1DP|||





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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Funds|
||||2021|2021|2021|2020|
|||Nate|E|E|f|6|
|Income from:|||||||
|Donations<br>and legacies|||140,896|215,0$8|355,984|127,865|
|Charitable<br>activities|||23,396||23,396|82,906|
|Trading activities|||9,185||9,185|59,606|
|Otherincome|||13,733||23,733|23,348|
|Total income|||187,210|215,088|402,298|293,725|
|Expenditure<br>on:|||||||
|Fundraising<br>trading||4|3,387||3,387|32,231|
|Charitable<br>activities||6, 7|301,970|68,207|370,177|344,081|
|Generating<br>voluntary|income|8|2,264||2,264|5,200|
|Total expenditure|||307I621|6$,207|375,828|381,512|
|Net income f (expenditure)|||(120,411)|146,$$1|26,470|(87,787)|
|Transfers between|funds|18,19|104,805|('104,805)|||
|Net movement<br>in funds|||(15,606)|42,076|26/I70|(87,787)|
|Reconciliation<br>of(uncls|||||||
|Total funds brought|forward||1,854,468|19,038|1,873,506|1,961,293|
|Total funds carried|forward||1,838,&62|61&214|ig&99J976|1873506|





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|1March 2021||||||
|---|---|---|---|---|---|
|||||2021|2020|
||||Nate|||
|Fixed Assets||||||
|Tangible assets|||13|1,354,370|1,396,945|
|Heritage assets|||14|472,724|472,724|
|||||1,827,094|1,869,669|
|Current Assets||||||
|Stocks||||8,119|9,488|
|Debtors|||15|29,450|26,981|
|Cash at bank and|in hand|||108,281|538|
|||||145,850|37,007|
|Creditors:||||||
|Amounts<br>falling due within||one year|16|(27,598)|(24,262)|
|Bank overdraft|||||(8,908)|
|||||(27,598)|33,170|
|Net Current<br>Assets||||118,252|3,837|
|Total assets less|current liabilities|||1,945,346|1,873,506|
|Creditors:||||||
|Amounts<br>falling due after||more than one year|17|45,370||
|Net assets||||1,899,976|1,873,506|
|Funds||||||
|General funds|||18|604,101|593,721|
|Designated<br>funds|||18|1,234,761|1,260,747|
|Restricted funds|||19|61,114|19,038|
|||||1,899,976|1,873,506|





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|||||||||Unrestricted|Restricted|||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|||||Total|
|||||||||f||||f|f|
|Torbay Council||||||||85,764||||85,764|37,000|
|National<br>Lottery Heritage|||Fund||||||68,160|||68,160|22,700|
|Arts Council<br>England|||||||||131,928|||131,928||
|Exeter University|||||||||15,000|||15,000||
|Government<br>CJR5Grant||||||||46,960||||46,960|4,611|
|Other Donations||||||||8,172||||8,172|11,146|
|Legacies|||||||||||||52,408|
|Total voluntary<br>income||||||||I.40,896|215,088|||355,984|127,865|
|Income from donations<br>and legacies in|||||||2020 comprised f104,136unrestricted|||funds and f23,729 restricted||||
|funds. Unrestricted|Donations|||in 2021|||include f132,724government||funding,|including||furlough|grant (2020:|
|f41,611),Restricted|donations||||include||f168,636government<br>funding||distributed||via Arts Council||England|
|and the National<br>Lottery||Heritage||||Fund|(2020:nil).|||||||
|3.Income from: Charitable|||activities|||||||||||
|||||||||Llnrestricted|Restricted|||2021|2020|
|||||||||funds||||Total|Tota I|
|||||||||f||||f|f|
|Ivluseum<br>admissions|IL activities|||||||23,396||||23,396|82,906|
|||||||||23,396||||23,396|82,906|
|Income from admissions||and activities|||||in 2020 comprised f82,663 unrestricted|||funds and f243 restricted||||
|funds||||||||||||||
|4.Income from: Trading||activities||||||||||||
|||||||||Unrestricted|Restricted|||2021|2020|
|||||||||funds||||Total|Total|
|Charity Trading income||||||||f||||f||
|ivluseum<br>shop and|other|earned|||income|||9,185||||9,185|59,606|
|Fundraising<br>Trading|Expenses|||||||||||||
|Museum<br>shop a cafg||||||||3,387||||3,387|32,231|
|||||||||5,798||||5,798|27,375|





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|||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|
|||funds||Tote I|Total|
|||E||E|E|
|Eundraising||12,269||12,269|8,973|
|Museum|exhibitions tax relief|1,18D||1,180|14,370|
|Other income||284||284|5|
|||13,733||13,733|23,348|



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||||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|---|
||||funds||Total|Total|
||||E|E|E|E|
|Operation|of|museum|301,970|68,207|370,177|344,081|
||||301,970|68,207|370,177|344,081|





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|7.Operation|o|fMuseu|m|<br>Activities||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||Total|Total|
|||||||||f||
|Activities undertaken|||directly|||||||
|Exhibrtions<br>and activities||||||||14I056|28,720|
|IVlarketing costs||||||||7,103|9,984|
|Outreach<br>and||education||||||449|2,315|
|||||||||21,608|41,019|
|Support costs||||||||||
|Salaries,<br>Nl and pension||||||||198,012|178,512|
|Sub-contract|and other|||staff costs||||11,504|9,769|
|Rates and water||||||||1,214|3,800|
|Light and heat||||||||12,566|13,999|
|Maintenance,||security||Ik repairs||||37,948|13,596|
|insurance||||||||12,317|10,323|
|General office||costs||||||2,823|2,373|
|ITcosts||||||||5,816|5,627|
|Professional|fees|||||||13317|949|
|Bank charges||||||||1,882|2,560|
|Sundry expenses||||||||43|641|
|Independent|examination|||||||2,260|2,160|
|Depreciation||||||||48,808|58,732|
|Bad debt write||off||||||59|21|
|||||||||348,569|303,062|
|Tota I||||||||370,177|344,081|
|8.Resources|Expended: Cost ofGenerating||||Voluntary|Income||||
|||||||||2021|2020|
||||||Unrestricted||Restricted|Tote I|Total|
|||||||funds||||
|||||||f||f||
|Fundraising|activity costs|||||2,264||2,264|5,200|
|||||||2,264|0|2,264|5,200|





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|This is|stated|after charging:|||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|Depreciation||oftangible fixed assets|||
|owned|by the|charity|48,808|58,372|



|Staff costs were as follows:|||
|---|---|---|
||2021|2020|
||E|E|
|Wages and salaries|185,745|178,058|
|Social Security costs|9,674|8,950|
|Pension contributions|4,689|4,615|
||200,108|191,623|



|The numbe|r|ofemployees|during the year w|as as follows:|||||
|---|---|---|---|---|---|---|---|---|
|||||Average|monthly||Full time equivalent||
|||||2021||2020|2021|2020|
|Curatorial|&|programme|delivery|4||3|2.5|1.5|
|Management||||2||2|1.5|1.5|
|Administration||&facilities||2||2|1.5|1|
|Attendants||||4|||1,5|2|
|Cafe||||0||2|0|1|
|||||12||13|7|7|





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|13.Tangible|Fixed Assets|||||||
|---|---|---|---|---|---|---|---|
|||Leasehold|Leasehold|oisplays|Furniture|Computer|Total|
|||Property|Property||and|Equipment||
||||improve'ts||Equipment|||
|||f|f|f||||
|Cost or valuation||||||||
|At 1April 2D20||800,000|1,299,310|237,021|109,991|48,170|2,494,492|
|Additions|||||5,604|629|6,233|
|At31March|2021|800,000|1,299,310|237,021|115,595|48,799|2,500,725|
|Depreciation||||||||
|At 1April 2020||320,000|401,754|236,573|96,672|42,548|1,097,547|
|Charge for year||16,000|25,986|56|4,640|2,126|48,808|
|At 31March|2021|336,000|427,740|236,629|101,312|44,674|1,146,355|
|Net book value||||||||
|At31March|2020|480,000|897,556|448|13,319|5,622|1,396,945|
|At 31March|2021|464,000|871,570|392|14,283|4,125|1,354,370|



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|||2021|2020|
|---|---|---|---|
|||5|E|
|Trade debtors||1,014|1,840|
|Accrued income||21,505|17,646|
|Other debtors||515|518|
|Prepayments||6,416|6,977|
|||29,450|26,981|
|16.Creditors: Amounts|falling due within one year|||
|||2021|2020|
|||6||
|Bounce Back Loan||4,630||
|Trade creditors||12,362|11,506|
|Other creditors||5,212|7,404|
|Accruals||5,394|5,352|
|||27,598|24,262|
|17.Creditors: Amounts|falling due after more than one year|||
|||2021|2020|
|||6|6|
|Bounce Back Loan||45,370||
|||45,370||





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|18.Unrestricted|18.Unrestricted|Funds|||||Fund as|
|---|---|---|---|---|---|---|---|
||||Funds||||at31|
||||brought||||March|
||||forward<br>f|Income<br>E|Expenditure<br>f|Transfers<br>F|2021<br>E|
|Designated<br>Funds||||||||
|Development|||800,396||(25,986)||774/410|
|Heritage|Assets||460,351||||460,351|
||||1,260,747||(25,986)||1,234,761|
|General|Fund|||||||
|Property|Revaluation||752,000||||752,000|
|General|- Charity||(158,279)|187,210|(281,635)|104,805|(147,899)|
||||593,721|187,210|(281,635)|104,805|604,101|
|Total unrestricted||funds|1,854,468|187,210|(307,621)|104,805|1,838,862|



|Unrestricted<br>Funds||||||Fund as|
|---|---|---|---|---|---|---|
|2020 - Compa rative||Funds||||at 31|
|||brought||||March|
|||forward<br>E|Income<br>f|Expenditure<br>f|Transfers<br>E|2020<br>E|
|Designated<br>Funds|||||||
|Development<br>Heritage Assets||826,383<br>460,351||(25,987)||800,396<br>460,351|
|||1,286,734||(25,987)||1,260,747|
|General<br>Fund|||||||
|Property<br>Revaluation||752,000||||752,000|
|General - Charity||(99,037)|269,753|(332,077)|3082|(158279)|
|||652,963|269,753|(332,077)|3,082|593,721|
|Totalunrestricted|funds|1,939,697|269,753|(358,064)|3,082|1,854,468|





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|19.Restricted<br>Funds|||||||||||||||||||Fund as|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds||||||||||||at 31|
|||||||brought|||||||||||||March|
|||||||forward|||||Income|Expenditure|||Transfers||||2021|
||||||||f||||f|||f||||F.|f|
|Acquisitions<br>fund|||||||3,949||||||||||||3,949|
|Heritage Assets (restricted)|||||||12,373||||||||||||12/373|
|NLHF Emergency<br>Fund|||||||||||50,000||(48,831)|||(1,169)||||
|Culture<br>Recovery Fund|||||||||||118,636||||(118,636)|||||
|Torquay<br>Museum<br>175|||||||1,990||||18,160||(16,847)|||15,000|||18,303|
|Pageant|||||||||||13,292||(1,706)||||||11,586|
|Exeter University<br>Fund|||||||||||15,000|||(823)|||||14,177|
|Other small funds|||||||726||||||||||||726|
||||||||19,038|||215,088|||(68,207)||(104,805)||||61,114|
|Transfers<br>represent the|use of|||covid||emergency|grants|provided<br>in order|||||to fund general||||running||costs|
|which had already<br>been|incurred||||and core match funding||||required to|||support||the Torquay||||Museum<br>175||
|Secret Museum<br>project||||||||||||||||||||
|The NLHF Emergency<br>Fund|||and|Arts||Council England<br>Culture|||||Recovery|Fund are part|||ofthe|||government's||
|covid support<br>program|for||cultural||organisations.|||||||||||||||
|The Acquisitions<br>fund<br>is restricted|||||for new exhibits.|||||||||||||||
|The Heritage Assets fund||relates tothe acquisition<br>of h||||||eritage assets.||||||||||||
|The Torquay<br>Museum<br>175|||project||-|celebrating|175years ofthe Iviuseum||||||with a community|||||curated<br>'Secr||
|Museum'<br>exhibition<br>alongside||||an|exhibition<br>showcasing||||the photographic||||collection||on|the||streets ofTorb||
|The Pageant fund enabled|||a carnival|||event (Covid adapted)|||||to celebrate||the|Museum,|its||collections and it|||
|place in the community.||||||||||||||||||||
|Exeter University<br>funded||a|series||of|three educational<br>and||||interactive||digital||performances||||||
|The ipplepen<br>Romans<br>fund|||(previous<br>year) supported<br>a|||||temporary<br>exhibition||||||of Roman||items on|||loan|
|from the British Museum||and items||||from a local|collection.|||||||||||||
|Restricted<br>Funds|||||||||||||||||||Fund as|
|2020 - Comparative|||||||Funds||||||||||||at 31|
|||||||brought|||||||||||||March|
|||||||forward|||||Income|Expenditure|||Transfers||||2020|
||||||||f||||f|||f||||f|f|
|Acquisitions<br>fund|||||||3,949||||||||||||3,949|
|Heritage Assets (restricted)|||||||12,373||||||||||||12,373|
|Ipplepen<br>Romans|||||||3,331||||||(3,957)|||||626||
|Torquay<br>Museum<br>175|||||||||||22,700||(18,847)|||(1,863)|||1,990|
|Other small funds|||||||1,943||||1,273|||(645)||(1.,845)|||726|
||||||||21,596||||23,973||(23,449)|||(3,082)|||19,038|





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|||General fund|Restricted|Tota I|Total|
|---|---|---|---|---|---|
||||6|2021|2020|
|||||6|6|
|Tangible|fixed assets|1,354,370||1,354,370|1,396,945|
|Hentage|assets|460,351|12,373|472,724|472,724|
|Current|assets|89,635|56,215|145,850|37,007|
|Current|liabilities|(20,124)|(7,474)|(27,598)|(33,17D)|
|Long term<br>liabilities||(45,370)||(45,370)||
|||1,838,862|61,114|1,$99,976|1,873,506|
|||General fund|Restricted|Tata I|Total|
|2020 - Comparative||||||
|||||2D20|2019|
|||||6|6|
|Tangible|fixed assets|L396,945||1,396,945|1,447,181|
|Heritage assets||460,351|12,373|472,724|472,724|
|Current|assets|29,615|7,392|37,007|67,377|
|Current|liabilities|(32,443)|(727)|(33,170)|(25,989)|
|||1,854,468|19,038|1,873,506|1,961,293|