PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112
ANNUAL REPORT & ACCOUNTS
YEAR ENDED 31[st] MARCH 2022
PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Contents
| Trustees Annual Report | 1 |
|---|---|
| Statement of Trustees’ Responsibilities | 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the accounts | 8 |
PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Trustees Annual Report
The Trustee is pleased to present their report and accounts for the year ended 31 March 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, Charities SORP (FRS102).
Objectives and activities
To provide a museum for the general benefit of the inhabitants of Southend on Sea.
Prittlewell Priory Museum was given in trust to the Borough Council by Robert Arthur Jones in 1918 as part of the transfer to the Borough under trust of Priory Park.
The museum is now a listed building having originally been established in 1110 as a monastic residence.
The museum re-opened in June 2012 having been closed for extensive restoration and conservation work since September 2009 following the successful application for a Heritage Lottery Funding Bid. The site now features the public sponsored paving stones and new visitor centre.
The Trustees in making decisions about the Trust make those decisions with due regard to the objects of the Trust.
In addition, they have due regard to their legal duty to carry out the Trust’s charitable purposes for the Public Benefit and the Charity Commissions’ guidance thereon.
Prittlewell Priory Museum has remained available for all members of the public to benefit from and use freely for the purposes of recreation and pleasure throughout the period.
Achievements and performance
Prittlewell Priory Museum is currently maintained to allow the purposes in its Governing document set out below to take place during the financial year 2021-22.
The Coronavirus restrictions were eased from 12th April 2021, as outlined in the Government’s roadmap. Prittlewell Priory Museum reopened as soon as it had an approved COVID-19 risk assessment in place. Operating hours returned to ‘normal’, and the Museum was open for 196 days during the year.
The Trustee considers that, under the circumstances, the performance of the charity during the year was satisfactory.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Plans for the future
Continue to expand the programme of events and enhance the quality of the visitor offer at Prittlewell Priory Museum.
Financial review
The total income for the year of £137,258 (2021: £117,482) includes a donation received from Southend City Council General Fund of £121,267 (2021 £115,380). This donation was received to cover the unrestricted deficit created by the fact that the cost of maintaining the museum exceeded the net income of the charity.
Reserves Policy
The trust does not need to hold reserves as any deficit which arises on the operation of the trust, should the trust have no funds to meet it, is funded by Southend on Sea City Council, which is sole trustee of the trust.
Going concern
Prittlewell Priory Museum meets the definition of a public benefit entity under FRS102. There are no material uncertainties about the charity’s ability to continue as a going concern.
Structure, governance and management
Governing documents
The Trust’s Governing document is in the form of a Declaration of Trust made on 23[rd] April 1992.
Trustee recruitment and training
Southend City Council elected members are corporate Trustees. Therefore, Councillors once elected become a corporate Trustee of the Trust.
Risk Assessment
The city council, when carrying out risk assessments for its own activities, includes within the assessment the activities of the trust, so any major risks applicable to the trust are covered by the council arranging appropriate insurance or having in place strategies to cover other contingencies.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Reference and administrative details
Trustee
Southend-on-Sea City Council
Secretary/Treasurer to the Trust
Southend-on-Sea City Council
Address
Civic Centre Victoria Avenue Southend-on-Sea Essex SS2 6EP
Independent Examiner
TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
Bankers
Barclays Bank Plc 1-3 Haymarket Towers Humberstone Gate Leicester LE1 1WA
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing accounts which give a true and fair view of the state of affairs of the Charity as at the end of each financial year and the income and expenditure of the Charity for that period.
In preparing those accounts, the Trustees are required to:
-
Select suitable and applicable accounting policies and then apply them consistently
-
Make judgement and estimates that are reasonable and prudent
-
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the organisation will continue in business
The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with charity legislation and the relevant governing instruments. They are responsible for safeguarding the Charity’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results
The Trust’s financial results are as per the annexed accounts.
By order of the Trustees
----- Start of picture text -----
Signed
J Chesterton
J Chesterton (Mar 12, 2024 08:07 GMT)
Joe Chesterton, Executive Director (Finance & Resources)
Date Mar 12, 2024
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Independent Examiner’s Report
I report on the accounts of the Trust for the year ended 31[st] March 2022, which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Cummins FCCA
For and on behalf of TC Group Office: Steyning, West Sussex Dated:
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Statement of Financial Activities
| 2021/22 2021/22 2021/22 2021/22 |
2020/21 | |
|---|---|---|
| Unrestricted Restricted Endowment Total |
Total | |
| Funds Funds Funds Funds |
Funds | |
| Note | £ £ £ £ |
£ |
| Income From | ||
| Donations 3 | 121,267 - - 121,267 |
115,380 |
| Investments 4 | 1 - - 1 |
3 |
| Charitable activities 5 | 15,990 - - 15,990 |
2,099 |
| Total Income | 137,258 - - 137,258 |
117,482 |
| Expenditure on 6 Charitable activities |
164,501 852 120,871 286,224 |
265,618 |
| Total expenditure | 164,501 852 120,871 286,224 |
265,618 |
| Net income/expenditure and net movement in funds |
(27,243) (852) (120,871) (148,966) |
(148,136) |
| Reconciliation of Funds | ||
| Total funds brought forward |
572,121 6,610 2,053,283 2,632,014 |
2,780,150 |
| Total funds carried forward | 544,878 5,758 1,932,412 2,483,048 |
2,632,014 |
All income and gains for the year are recognised on the statement of financial activities. All the Charity's activities are classified as continuing.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Balance Sheet
| 2021/22 | 2020/21 | |
|---|---|---|
| Total Funds |
Total Funds |
|
| Note | £ | £ |
| Fixed Assets | ||
| Tangible Assets 7 |
544,878 | 572,121 |
| Heritage Assets 7 |
1,932,412 | 2,053,283 |
| Total Fixed Assets | 2,477,290 | 2,625,404 |
| Current Assets | ||
| Cash at bank and in hand | 6,388 | 7,230 |
| Total Current Assets | 6,388 | 7,230 |
| Liabilities | ||
| Creditors: Amounts fallingdue within oneyear 8 |
(630) | (620) |
| Net current assets/(liabilities) 9 |
5,758 | 6,610 |
| Total assets less current liabilities | 2,483,048 | 2,632,014 |
| The funds of the charity | ||
| Endowment funds 10 |
1,932,412 | 2,053,283 |
| Restricted income funds 11 |
5,758 | 6,610 |
| Unrestricted funds | 544,878 | 572,121 |
| Total charity funds | 2,483,048 | 2,632,014 |
Approved by the Trustee and signed on its behalf by an authorised signatory.
Signed J Chesterton J Chesterton (Mar 12, 2024 08:07 GMT)
Joe Chesterton, Executive Director (Finance & Resources) Southend on Sea City Council for the Trustee Date 12/03/24
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Notes to the accounts
Note 1 Legal Status
Prittlewell Priory Museum is an unincorporated charity registered in England and Wales (charity number 1027112).
Note 2 Accounting Policies
Basis of preparation
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended 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 2015) – (Charities SORP (FRS 102)), and the Charities Act 2011.
Prittlewell Priory Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about the charity’s ability to continue as a going concern given the continued support of Southend Borough Council.
Cash Flow Statement
In accordance with the Charities SORP (FRS 102) the charity is claiming exemption from the requirement to prepare a cash flow statement on account of it being a small charity.
Income
Donations and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.
Charitable activities - represent income from rent and are recognised when receivable.
Investment income is accounted for when receivable.
Expenditure
Expenditure is accounted for on an accruals basis exclusive of the element of VAT which is recoverable by Southend City Council in accordance with VAT Notice 749 para 7.5.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Tangible fixed assets and depreciation
Tangible fixed assets are capitalised at cost. Land is not depreciated. Buildings are depreciated on a straight-line basis over a period of 27-30 years.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. No separate bank account is maintained by the Trust, therefore all income and expenditure pass through the Borough Council’s account, and its cash balances are held within the Borough Council’s general bank account.
Creditors and provisions
Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
Note 3 Income from Donations
Donations of £0 (2021: £305) were received from the public.
Donations of £121,267 (2021: £115,380) were from Southend City Council as the funding required to make up the operational deficit for the year. This donation is equitably apportioned across all operational trust expenditure. Included in the donation of £121,267 (2021: £115,380) are the following donated services:
| Employees – seconded staff Administration |
2022 2021 £ £ 49,926 35,030 320 338 |
|---|---|
| 50,246 35,368 |
Note 4 Income from Investments
Investment income is from interest earned on the cash balances held.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Note 5 Income from Charitable Activities
| Sales Fees & Charges Sponsored Pavers (restricted fund) Note 6 Cost of Charitable Activities Employees Building/Ground Maintenance Utilities Insurance Supplies & Services Depreciation Governance costs Administration |
Sales Fees & Charges Sponsored Pavers (restricted fund) Note 6 Cost of Charitable Activities Employees Building/Ground Maintenance Utilities Insurance Supplies & Services Depreciation Governance costs Administration |
2022 2021 £ £ 12,555 1,849 3,435 - - 250 |
|---|---|---|
| 15,990 2,099 |
||
| 2022 2021 |
||
| £ £ |
||
| Employees | 56,861 35,597 |
|
| Building/Ground Maintenance | 48,601 48,812 |
|
| Utilities | 20,924 16,164 |
|
| Insurance | 8,550 8,100 |
|
| Supplies & Services | 2,179 7,868 |
|
| Depreciation | 148,114 148,114 |
|
| Governance costs | 630 620 |
|
| Administration | 365 343 |
|
| 286,224 265,618 |
The support costs incurred are the administration services provided by Southend City Council and governance costs. Total support costs for the year were £995 (2021: £963).
Governance costs comprise solely of fees paid to independent examiners. During the year £630 (2021: £620) was paid to the independent examiner in respect of examination services.
Employee costs relate to employees of the Council.
No staff were remunerated over £60,000 in the year.
The charity is managed by Southend City Council and doesn’t have any key management personnel.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Note 7 Fixed Assets
The Prittlewell Priory Museum land and buildings are recognised in the accounts as heritage assets.
| £ | £ | £ | |
|---|---|---|---|
| Asset cost, valuation, or revalued amount | Tangible Assets |
Heritage Assets |
Total |
| Balance brought forward @ 01/04/21 | 804,723 | 3,613,017 | 4,417,740 |
| Balance carried forward @ 31/03/22 | 804,723 | 3,613,017 | 4,417,740 |
| Accumulated depreciation and impairment | reviews | ||
| Balance brought forward @ 01/04/21 | 232,602 | 1,559,734 | 1,792,336 |
| Charge for the year | 27,243 | 120,871 | 148,114 |
| Balance carried forward @ 31/03/22 | 259,845 | 1,680,605 | 1,940,450 |
| Net Book Value | |||
| Brought forward @ 01/04/21 | 572,121 | 2,053,283 | 2,625,404 |
| Carried forward @ 31/03/22 | 544,878 | 1,932,412 | 2,477,290 |
Note 8 Creditors
| Amounts falling due within one year Other Creditors |
2022 2021 £ £ |
|---|---|
| 630 620 |
Note 9 Net Current Assets
The net current asset of £5,758 (2021: £6,610) reflects the closing balance of the separate bank account held by the Prittlewell Priory Museum Trust.
Note 10 Endowment fund
The endowment fund arose from Robert Arthur Jones’ donation of the Prittlewell Priory Museum in 1918.
Note 11 Restricted fund
The restricted fund represents amounts received to be specifically used for the improvement of Prittlewell Priory Museum.
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Note 12 Trustee remuneration
No trustee was paid in respect of their services as a trustee in 2021 or 2022 and no expenditure was reimbursed.
Note 13 Related Party Transactions
During the year the trustee (Southend Borough Council) donated £121,267 (2021: £115,380) to the Trust in respect of the funding required to cover the operational deficit for the year. Southend Borough Council collected a further £15,990 (2021: £2,099 in respect of other charitable income. The Trust paid the Council £136,628 in respect of operating costs for the year (2021: £116,612).
Note 14 Comparative funds
| 2020/21 2020/21 2020/21 2020/21 |
|
|---|---|
| Unrestricted Restricted Endowment Total |
|
| Funds Funds Funds Funds |
|
| £ £ £ £ |
|
| Income From | |
| Donations 3 |
115,380 - - 115,380 |
| Investments 4 |
3 - - 3 |
| Charitable activities 5 |
1,849 250 - 2,099 |
| Total Income | 117,232 250 - 117,482 |
| Expenditure on | |
| Charitable activities 6 |
144,477 270 120,871 265,618 |
| Total expenditure | 144,477 270 120,871 265,618 |
| Net income/expenditure and net movement in funds |
(27,245) (20) (120,871) (148,136) |
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PRITTLEWELL PRIORY MUSEUM Charity Registration No 1027112 Year Ended 31[st] March 2022
Note 15 Net Assets Between Funds
Year Ending 31[st] March 2022
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| Fixed Assets | 544,877 | - | 1,932,417 | 2,477,294 |
| Current Assets | 630 | 5,758 | - | 6,388 |
| Current Liabilities | (630) | - | - | (630) |
| Total | 544,877 | 5,758 | 1,932,417 | 2,483,052 |
Year Ending 31[st] March 2021
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| Fixed Assets | 572,121 | - | 2,053,283 | 2,625,404 |
| Current Assets | 620 | 6,610 | - | 7,230 |
| Current Liabilities | (620) | - | - | (620) |
| Total | 572,121 | 6,610 | 2,053,283 | 2,632,014 |
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160 Prittlewell Priory Museum Trust 2021-22
Final Audit Report 2024-03-12
Created: 2024-03-11 By: Elizabeth Anslow (elizabethanslow@southend.gov.uk) Status: Signed Transaction ID: CBJCHBCAABAAgTQLYjMrYYk-AMc2Ay9VYrV6k07r8GM8
"160 Prittlewell Priory Museum Trust 2021-22" History
Document created by Elizabeth Anslow (elizabethanslow@southend.gov.uk)
2024-03-11 - 4:10:17 PM GMT- IP address: 2.24.143.126
Document emailed to joechesterton@southend.gov.uk for signature
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Email viewed by joechesterton@southend.gov.uk
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Signer joechesterton@southend.gov.uk entered name at signing as J Chesterton 2024-03-12 - 8:07:18 AM GMT- IP address: 86.153.200.166
Document e-signed by J Chesterton (joechesterton@southend.gov.uk)
Signature Date: 2024-03-12 - 8:07:20 AM GMT - Time Source: server- IP address: 86.153.200.166
Agreement completed.
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