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





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|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<br>Park|||
|||||Torquay TQ2 7FF|||
|Bankers||||Lloyds PLC|||
|||||51-52 Fleet Street|||
|||||Torquay TQ2 5DW|||
|Solicitors||||Wollens|||
|||||At I-larbaurside|||
|||||67The Terrace|||
|||||Torquay|||
|||||TQ1 1DP|||





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||||tinrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Funds|
||||202?|2022|2022|2021|
|||Note|E|6|6|E|
|Income from:|||||||
|Donations<br>and legacies|||112,980|164,838|277,818|355,984|
|Charitable<br>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<br>on:|||||||
|Fundraising<br>trading|||11,812||11.,812|3,387|
|charitable<br>activities||6, 7|185,136|203,029|388,165|370,177|
|Generating<br>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<br>in funds|||8,277|(31,898)|(23,621)|26,47D|
|Reconciliation<br>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|





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|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<br>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<br>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|



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|2.Income from:|Donation|s<br>and legacies|||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|2022|2D21|
||||funds||Total|Total|
||||||E|E|
|Torbay Council|||61,000||61,ODD|85,764|
|National<br>Lottery|Hentage|Fund||4,540|4,540|68,160|
|Arts Council England||||158,110|158,110|131,928|
|Exeter University||||||15,000|
|Government<br>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|



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||||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|



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|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<br>Trading Expenses|||||||
|Ivluseum|shop|ILrafa|11,812||11,812|3,387|
||||18,857||18,857|5,798|





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|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|



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||||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|





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|7,Operation of Museu|m|Activities|||
|---|---|---|---|---|
||||2022|2021|
||||Total|Total|
||||f|f|
|Activities undertaken|directly||||
|Exhibitions<br>and activities|||23,001|14,056|
|Marketing<br>costs|||13,706|7,103|
|Outreach<br>and education|||16,255|449|
||||52,962|21,608|
|Support costs|||||
|Salaries,<br>Nl and pension|||186,245|198,012|
|Sub-contract<br>and other||staff costs|13,691|11,504|
|Rates and water|||762|1,214|
|Light and heat|||12,881|12,566|
|Maintenance,<br>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<br>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|



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





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|9.Net income||/expenditure|/expenditure|/expenditure|||||||
|---|---|---|---|---|---|---|---|---|---|---|
|This is stated||after charging:|||||||||
||||||||||2022|2021|
||||||||||f|f|
|Depreciation||oftangible|fixed assets||||||||
|owned<br>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<br>&|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|





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|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|



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|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|





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||||||||||
|---|---|---|---|---|---|---|---|---|
|18.Unrestricted||Funds||||||Fund as|
|||||Funds||||at31|
|||||brought||||March|
|||||forwardf|Incame<br>f|Expenditure<br>f|Transfers|2D22<br>f|
|Designated<br>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<br>Funds|Unrestricted<br>Funds|Unrestricted<br>Funds|||||Fund as|
|---|---|---|---|---|---|---|---|
|2021-Comparative|||Funds||||at31|
||||brought||||March|
||||farward|Income|Expenditure|Transfers|2021|
||||f|f|f|f||
|Designated<br>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|





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|19.Restricted<br>Funds||||||||||||||||Fund as|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Funds|||||||at 31|
||||||||||brought|||||||Iviarch|
|||||||||forward<br>f||Income<br>f||Expenditure<br>E||Transfers||2022<br>f|
|Acquisitions<br>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<br>Museum<br>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<br>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<br>represent care|||rnatch funding|||required|ta|support the 175Secret||||Museum<br>and|pageant projects||||
|The Acquisitions<br>fund is||restricted|||for new exhibits.||||||||||||
|The Heritage Assets fund|||relates to the|||acquisitian|af heritage assets.||||||||||
|The Arts Council England|||Emergency<br>Resource Suppart fund and Continuity|||||||||Fund are part ofthe government's|||||
|covid support<br>program|for|||cultural|organisations||(NLHF and Culture||||Recovery<br>in 2021).||||||
|The Tarquay<br>Museum|175|||project|- celebrating<br>175years ofthe Museum<br>with a community|||||||||curated|exhibition||
|alongside<br>an exhibition||showcasing the||||phatagraphic|||collection|on|the streets ofTorbay.||||||
|The pageant fund enabled||||a carnival event to celebrate the lviuseum,<br>its collections and its||||||||||place in the|||
|community.|||||||||||||||||
|Made ta BePlayed: A Festival of Musical instruments,|||||||||which shawcases<br>and|||celebrates<br>music-making|||around||
|the world and through|time.||||||||||||||||
|Exeter University<br>funded|||a|series ofthree educational|||||and interactive<br>digital|||performances|||||
|Restricted<br>Funds||||||||||||||||Fund as|
|2021-Comparative|||||||||Funds|||||||at 31|
||||||||||brought|||||||March|
||||||||||forward<br>f||Income<br>f|Expenditure|f|Transfers<br>f||2021<br>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)||||11J586|
|Exeter University<br>Fund|||||||||||15,000|(823)||||14I177|
|Other small funds|||||||||726|||||||726|
||||||||||19,038||215,088|(68,207)||(104,805)||61,114|





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|||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|



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