The Twickenham Museum Trustees’ Annual Report Registered Charity Name The Twickenham Museum Charity Registration Number 1028984 Principal Office and registered office 25, The Embankment, Twickenham TW1 3DU Trustees David Cornwell -Chairman Anthony Nash – Treasurer Sandra Dempsey – Secretary Michael Cherry Suzannah Herbert John Sheaf Independent Financial Examiner Maurice Parry-Wingfield FCA 11 Montpelier Row Twickenham, TW1 2NQ
The Trustees’ Report
The Trustees of The Twickenham Museum (the ‘Charity’) present their report for the year ended 31[st] December 2023.
Chairman’s Statement
The end of 2023 marks the conclusion of our House Manager’s first year in post. He has taken on the job of increasing the profile of the museum via social media, the distribution of a new printed flyer, posters provided for community bulletin boards and library information boards and an advertisement in a local magazine. Both visitor and volunteer numbers have greatly benefited from our presence on Facebook, X and Instagram. In the last year the museum has received over six hundred followers across all three media platforms. We now have thirty-five active volunteers whose ages range from sixteen to eighty years and we are managing to continue to be open for ten hours a week. There were 2,750 visitors to the museum in 2023, up from 1915 in 2022 which reflects the additional opening times.
In September the House Manager organised an afternoon social gathering for the volunteers at the Coach House at Orleans Gallery which was well attended and included a presentation on the successes of the year. It is hoped that a similar social gathering will become an annual event.
During the year further work was undertaken to address the matters identified in our buildings review of 2022 and Universal Stone Ltd was appointed to carry out extensive works to the roof. In addition, AM System were commissioned to provide new display cases for the
first floor which will allow us to present exhibits in a more professional manner. The museum will close for a short period in Spring 2024 to allow both projects to be completed at the same time. Also, we plan to revamp our website during 2024 taking the opportunity of the retirement of our long-standing website provider to move to a new site which will better serve our needs for the foreseeable future.
Some of the initial costs of these projects are reflected in the current financial year as we return to the cash accounting basis for the accounts during 2023. This is because our turnover has reverted to more normal levels following legacies received in 2022. The deficit for the year is due to the early stage payments for the AM System display cabinets, something which would normally be capitalised if the accounts were presented on an accruals basis. We expect to draw more heavily on our endowment funds in 2024 as the various projects are completed and again will show a deficit for the year returning to a more balanced position during 2025. Our main sources of income are dividends received from our endowment funds and donations.
Our Management Committee and Trustees have had a busy year but we are very much looking forward to the renaissance of The Twickenham Museum in 2024. I would like to give my thanks to all those involved in making these projects a success and send thanks to all our volunteers and donors who continue to support us in our endeavours.
David Cornwell, Chairman of Trustees
Structure, Governance and Management
Governing Document
The Charity is governed by a Trust Deed dated 3 November 1993. The objectives of the Trust are to advance the education of the people of Twickenham (to include the people of Teddington, Whitton, Hampton Wick, Hampton Hill and Hampton) by provision of a museum. The museum is operated from one site at 25, The Embankment, Twickenham which is owned by the Trust.
Recruitment and Appointment of Trustees and Management Committee
Trustees have been recruited on an informal basis, often through other local historical organisations and charities with similar interests. The Management Committee consists of some trustees and other key volunteers to look after day to day running of the museum.
Objectives and Activities
The principal object is to run a museum dedicated to the history of the historic Borough of Twickenham. The museum is volunteer run apart from an appointed contract House Manager. The availability of volunteers restricts the number of hours that the museum can
open and during 2023 the museum opened for 10 hours from Friday to Sunday inclusive each week.
Visitor numbers increased by 835 during the year and our number of active volunteers has increased.
Financial Review
The charity has no restricted funds.
Given previous very modest levels of expenditure and a strong asset base, the Trustees have not maintained a formal reserves policy. Whilst expenditure (other than capital investment) will likely continue to increase in 2024, it is hoped that the level of dividends received should cover the expected running costs. Reserves can be liquidated at relatively short notice should major financing needs arise. In the medium term it is the Charity’s objective to ensure that investment income covers day to day running expenses.
Receipts and Payments Account
| Total Funds 2023 Total Funds 2022 |
|
|---|---|
| RECEIPTS | £ £ |
| Donations, legacies, and other similar receipts: Personal Donations 2,042 430 Tax reclaimed by Gift Aid - 212 Donations to Unrestricted Funds - 440,010 Operating activities to further charity's objects: Books, cards and pictures 868 457 Investment income receipts: CAF Bank interest 862 274 COIF Charities Deposit Fund Interest 2,342 427 COIF Charities Property Fund Dividends 11,708 7,428 M & G Charities Charifund Fund Dividends 16,408 14,351 M & G Charities Charibond Fund Dividends 1,498 824 Miscellaneous - - Total receipts £ 35,728 464,411 |
2,042 430 - 212 - 440,010 868 457 862 274 2,342 427 11,708 7,428 16,408 14,351 1,498 824 - - |
| PAYMENTS | £ £ |
| Charitable activities: Exhibition materials - Printing and purchase of publications 332 51 Publicity and newsletters 1,352 - Support costs: Utilities 3,786 1,462 Subscriptions: AIM & Richmond Arts Council 521 113 Insurances and security 3,103 2,141 Building maintenance 4,186 3,080 Fixtures & fittings 17,118 27 IT costs 1,278 1,632 Management and administration: Volunteers' expenses 798 590 Contractor fees 19,068 1,499 Total payments £ 51,542 10,594 Deficit /(Surplus) for the year 15,814 - 453,817 Deficit on investment account 19,835 - 69,959 - Total funds brought forward 811,035 427,176 Total funds carried forward £ 775,386 811,035 |
- 332 51 1,352 - 3,786 1,462 521 113 3,103 2,141 4,186 3,080 17,118 27 1,278 1,632 798 590 19,068 1,499 |
Page 1 of 3
Balance Sheet at year end
| Total Funds 2023 Total Funds 2022 |
|
|---|---|
| ASSETS | £ £ |
| Cash Funds: CAF Cash account 200 200 CAF Gold account 28,955 58,819 COIF Charities Deposit Fund 62,500 48,450 Assets retained for the Museum's use: 147,142 147,142 Investment assets 535,533 555,368 Net assets £ 774,330 809,979 Represented by accumulated funds: £ £ Building (at Probate value) and improvements (at cost) |
200 200 28,955 58,819 62,500 48,450 147,142 147,142 535,533 555,368 |
| £ £ |
|
| Total of accumulated funds £ 774,330 809,979 |
Signed:
Anthony Nash, Treasurer
Date: 2024
The Independent Examiner's Report is attached.
Page 2 of 3
Notes to these Accounts
The Accounts are drawn up on the Receipts and Payments basis
Analysis of Investment Assets
| INVESTMENT ASSETS | Total Funds 2023 Total Funds 2022 |
|---|---|
| INVESTMENT ASSETS | £ |
| Previous year-end valuation: COIF Charities Property Fund 232,797 77,722 M & G Charities Charibond Fund 40,561 45,377 M & G Charities Charifund Fund 282,010 102,228 Sub-total: £ 555,368 225,327 Cost of purchases: COIF Charities Property Fund - 200,000 M & G Charities Charibond Fund - M & G Charities Charifund Fund - 200,000 Sub-total: £ - 400,000 Proceeds of sales: CAF Bond Income Fund - - COIF Charities Investment Fund - - COIF Charities Fixed Interest - - Sub-total: £ - - Investment surplus/deficit for year: £ 19,835 - 69,959 - Valuation at this year-end: COIF Charities Property Fund 218,267 232,797 M & G Charities Charibond Fund 41,883 40,561 M & G Charities Charifund Fund 275,383 282,010 Total: 535,533 555,368 |
232,797 77,722 40,561 45,377 282,010 102,228 |
| 218,267 232,797 41,883 40,561 275,383 282,010 |
|
| 535,533 555,368 |
Page 3 of 3
Independent EKaminer's statem?.nt l am qualified to undertake the examination by being a Fellow of the Institute of Chartered Accountants in England and Wales. I have completed my examination, I confirm that no material matters have come to my attention in connection with the examination which Elves me cause to believe that ir) any material respect.. the arcountirsg records were not kept in accordanc.p. with section 130 of the. Charities Act,. or the accounts did not accord with the accounting records; or the acLounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports1 Regulations 2008 other than any requirement that the accounts givo a 'true and fair, view which is not a matter Lonsidered as part of an independent examination. I have no concorns and have come aCfOSS no other matter5 in connection with the examination lo which attention Should be drawn in this report in order to enable a proper understanding of the ii Cf.o(Intq to be reached. Nam•: Maurlce ParWIn1ne1d Relevant professlonal quallflcatlonls) or body (If any): Fellow of the Institute of Chartered Accountants in England and Wales Address: 11 Moritpelier Row Twickenham TWI 2NQ