2022-03-31-accounts

Contents
		Page
Trustees' Report
Reference and administrative details ofthe charity, its trustees	and advisers
Independent Examiner's Report		10
Statement of Financial Activities
Balance Sheet		12
Notes to the financial statements		13

Trustees				Mr Andrew Cooper	Mr Andrew Cooper
				Ms Nicale Amil
				Ms Kate Richards
				Ms Caraline Skelton
				Ms Abigail Smith
				Mr David Wills
				Mr Simon Crabtree	(appointed	December 2021)
Secretary				Ms Caroline 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 Park
				Torquay TQ2 7FF
Bankers				Lloyds PLC
				51-52 Fleet Street
				Torquay TQ2 5DW
Solicitors				Wollens
				At I-larbaurside
				67The Terrace
				Torquay
				TQ1 1DP

			tinrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			202?	2022	2022	2021
		Note	E	6	6	E
Income from:
Donations and legacies			112,980	164,838	277,818	355,984
Charitable activities			60,904	230	61,134	23,396
Trading activities			30,669		30,669	9,185
Other income			6,735		6,735	13,733
Total income			211,288	165,06S	376,356	402,298
Expenditure on:
Fundraising trading			11,812		11.,812	3,387
charitable activities		6, 7	185,136	203,029	388,165	370,177
Generating voluntary	income	8				2,264
Total expenditure			196,948	203,0?9	399,977	375,828
Net income / (expenditure)			14,340	(37,961)	(23,6?1)	26,470
Transfers between	funds	28,19	(6,063)	6,063
Net movement in funds			8,277	(31,898)	(23,621)	26,47D
Reconciliation offunds
Total funds brought	forward		1,838,862	61,114	'1,899,976	1,873,5D6
Total funds carried	forward		1,847,139	29,216	1,876,355	1,899,976

1March 2	922
				2022	2021
			Note	F	5
Fixed Assets
Tangible assets			23	1,307,343	1,354,370
I-leritage assets			24	472,724	472,724
				1,780,067	1,827,094
Current Assets
Stocks				6,607	8,119
Debtors			25	55I697	29,450
Cash at bank and		in hand		111,787	108,281
				174,D91	145,850
Creditors:
Amounts falling due within one year			26	(37,989)	(27,598)
Net Current	Assets			136,102	118,252
Total assets	less	current liabilities		1,916,169	1,945,346
Creditors:
Amounts falling due after more than one year			27	(39,814)	(45,370)
Net assets				1,876,355	1,899,976
Funds
General funds			28	598,364	604,1D1
Designated	funds		28	1,248,775	1,234,761
Restricted funds			29	29,216	61,114
				1,876,355	1,899,976

2.Income from:	Donation	s and legacies
			Unrestricted	Restricted	2022	2D21
			funds		Total	Total
					E	E
Torbay Council			61,000		61,ODD	85,764
National Lottery	Hentage	Fund		4,540	4,540	68,160
Arts Council England				158,110	158,110	131,928
Exeter University						15,000
Government CJR5 Crant			2,594		2,594	46,960
Other Donations			9,386	2,188	11,574	8,172
Legacies			40,000		40,00D
Total voluntary	income		112,980	164,838	277,818	355,984

			Linrestricted	Restricted	Z022	2021
			funds		Tote I	Total
						E
Museum	admissions	&activities	60,904	230	61,134	23,396
			60,904	230	61,134	23,396

4.Incom	e from	: Trading activities
			Unrestricted	Restricted	202Z	Z021
			funds		Total	Total
Charity	Trading	Income			E	f
Museum	shop	and other earned income	30,669		30,669	9,185
Fundraising Trading Expenses
Ivluseum	shop	ILrafa	11,812		11,812	3,387
			18,857		18,857	5,798

5.Incom	e from: Other Income
		Unrestricted	Restricted	2022	2021
		funds		Total	Total
		E		E	E
Fundraising		531		531	12,269
Museum	exhibitions tax relief	5,254		5,254	1,180
Other income		950		950	284
		6,735		6,735	13,733

			Unrestricted	Restricted	2022	2021
			funds		Total	Total
				f	f	f
Operation	of	museum	185,136	203,029	388,165	370,177
			185,136	203,029	388,165	370,177

7,Operation of Museu	m	Activities
			2022	2021
			Total	Total
			f	f
Activities undertaken	directly
Exhibitions and activities			23,001	14,056
Marketing costs			13,706	7,103
Outreach and education			16,255	449
			52,962	21,608
Support costs
Salaries, Nl and pension			186,245	198,012
Sub-contract and other		staff costs	13,691	11,504
Rates and water			762	1,214
Light and heat			12,881	12,566
Maintenance, security		Ih repairs	13I43.7	37,948
Insurance			12,780	12,317
General office costs			2,639	2,823
ITcosts			5,324	5,816
Profession a I fees			34,410	13,317
Bank oharges			3,495	1,882
Sundry expenses			58	43
Indepe~dent examination			2,350	2,260
Depreciation			47,027	48,808
Bad debt write off			124	59
			335,203	348,569
Total			388,165	370,177

8.R	esource	s Expen	ded: Cost ofGener	ating Voluntary Income
						2022	2021
				Unrestricted	Restricted	Total	Total
				funds
				f			f
Fun	draising	activtty	costs				2,264
							2,264

9.Net income		/expenditure	/expenditure	/expenditure
This is stated		after charging:
									2022	2021
									f	f
Depreciation		oftangible	fixed assets
owned by the		charity							47,027	48,808
Pension costs									4,053	4,689
10.Taxation
The chantable		company	is	exempt from corporation		tax on its charitable		activities
11.Analysis ofstaff costs,				Trustees'	remuneration	and expenses,	and the costs of		key
management		personnel
Staff costs were as follows:
									2022	2021
										f
Wages and salaries									173,858	185,745
Social Security costs									7,927	9,674
Pension contributions									4,053	4,689
									185,838	200,108
The number	of employees			during the	year was as follows:
						Average monthly			Full time	equivalent
						2022		2021	2022	2021
Curatorial &	programme		delivery					4	2.0	2.5
Management						2		2	1.5	1.5
Administration		&.facilities				2		2	1.0	1.5
Attendants						4		4	1.5	1.5
						11		12	6	7

13.Tangible Fixed Assets
	Leasehold	Leasehold	Displays	Furniture	Computer	Total
	Property	Property		and	Equipment
		Improve'ts		Equipment
	E	E	E
Cost or valuation
At 1April 2021	80D,OOO	1,299,310	237,021	115,595	48,799	2,500,725
Additions
At 31March 2022	SOD,OOO	1,299,310	237,D21	115,595	48;199	2,500,725
Depreciation
At 1April 2021	336,000	427,740	236,629	101,312	44,674	1,146,355
Charge for year	16,000	25,986	56	2,859	2,126	47,027
At 31March 2022	352,000	453,726	236,685	1D4,171	46,800	1,193,382
Net book value
At 31 March 2021	464,000	871,570	392	14,283	4,125	1,354,37D
At 31March 2022	44S,OOD	845,584	336	3.1,424	1,999	1,307)343

15.Debtors: Due within	one year
		2022	2021
		E	E
Trade debtors		1,762	1,014
Accrued income		40,895	21,505
Other debtors		786	515
Prepayments		12,254	6,416
		55,697	29,450
16.Creditors: Amounts	falling due within one year
		2022	2021
			E
Bounce Back Loan		5,556	4,630
Trade creditors		25,355	12,362
Other creditors		2,127	5,212
Accruals		4,951	5,394
		37,989	27,598
17.Creditors: Amounts	falling due after more than one year
Bounce Back Loan		39,814	45,370
		39,814	45,370

18.Unrestricted		Funds						Fund as
				Funds				at31
				brought				March
				forwardf	Incame f	Expenditure f	Transfers	2D22 f
Designated Funds
Development				774,410		(25,986)		748I424
I{eritage	Assets			460,351				46D,351
Essential	maintenance		casts				40,00D	40,000
				1,234,761		(25,986)	40,00D	1,248,775
General	Fund
Property	Revaluatian			752,000				752,000
General	- Charity			(147,899)	211,288	(170,962)	(46,063)	(153,636)
				604,101	211,288	(170,962)	(46,063)	598,364
Total unrestricted		funds		1,838,862	211,288	(196,948)	(6,063)	1,847,139

Unrestricted Funds	Unrestricted Funds	Unrestricted Funds					Fund as
2021-Comparative			Funds				at31
			brought				March
			farward	Income	Expenditure	Transfers	2021
			f	f	f	f
Designated Funds
Develapment			800,396		(25,986)		774,410
I-leritage	Assets		460,351				460,351
			1,260,747		(25,986)		1,234,761
General	Fund
Property	Revaluation		752,000				752,ODD
General	—Charity		(158,279)	187,210	(281,635)	104,8D5	(147,899)
			593,721	187,210	(281,635)	104,805	6D4,101
Total unrestricted		funds	1,854,468	187,210	(307,621)	104,805	1,838,862

19.Restricted Funds																Fund as
									Funds							at 31
									brought							Iviarch
								forward f		Income f		Expenditure E		Transfers		2022 f
Acquisitions fund									3,949							3,949
Heritage Assets (restricted)									12,373							12,373
Arts Council Emergency		Fund								83,727		(83,727)
Arts Council Continuity	Fund										60,000	(60,000)
Torquay Museum 175									18,303		4,540	(27,905)		5,062
Pageant									11,586		1,477	(14,064)		1,001
Made to be Played											12,906	(665)				12,241
Exeter University Fund									14,177			(14,177)
Dther small funds									726		2,418	(2,491)				653
									61,114	165,068		(203,029)		6,063		29,216
Transfers represent care			rnatch funding			required	ta	support the 175Secret				Museum and	pageant projects
The Acquisitions fund is		restricted			for new exhibits.
The Heritage Assets fund			relates to the			acquisitian	af heritage assets.
The Arts Council England			Emergency Resource Suppart fund and Continuity									Fund are part ofthe government's
covid support program	for			cultural	organisations		(NLHF and Culture				Recovery in 2021).
The Tarquay Museum	175			project	- celebrating 175years ofthe Museum with a community									curated	exhibition
alongside an exhibition		showcasing the				phatagraphic			collection	on	the streets ofTorbay.
The pageant fund enabled				a carnival event to celebrate the lviuseum, its collections and its										place in the
community.
Made ta BePlayed: A Festival of Musical instruments,									which shawcases and			celebrates music-making			around
the world and through	time.
Exeter University funded			a	series ofthree educational					and interactive digital			performances
Restricted Funds																Fund as
2021-Comparative									Funds							at 31
									brought							March
									forward f		Income f	Expenditure	f	Transfers f		2021 f
Acquisitions fund									3,949							3,949
Heritage Assets (restricted)									12,373							12,373
NLHF Emergency Fund											50,000	(48,831)		(1,169)
Culture Recovery Fund											118,636			(118,636)
Torquay Museum 175									1,990		18,160	(16,847)		15,000		18,303
Pageant											13,292	(1,706)				11J586
Exeter University Fund											15,000	(823)				14I177
Other small funds									726							726
									19,038		215,088	(68,207)		(104,805)		61,114

		General	Restricted	Total	Total
		fund
				2022	2021
				f
Tangible	fixed assets	1,307,343		1,307,343	1,354,370
Heritage	assets	460,351	12,373	472,724	472,724
Current	assets	140,425	33,666	174,091	145,850
Current	liabilities	(21,166)	(16,823)	(37,989)	(27,598)
Long term liabilities		(39,814)		(39,814)	(45,370)
		1,847,139	29,216	1,876,355	1,899,976
		General	Restricted	Total	Total
2021-Comparative		fund
				2021	2020
				f
Tangible	fixed assets	1,354,370		1I354,370	1,396,945
Heritage	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)	(33,170)
Long term liabilities		(45,370)		(45,370)
		1,838,862	61,114	1,899,976	1,873,506