2020-12-31-accounts

Cavalcade of Costume Limited

(A Charitable Company Limited by Guarantee)

trading as

Blandford Fashion Museum

Annual Report and Financial Statements for the year ending

31st December 2020

Registered Charity Number: 1052471 Company registration number 3135360

Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

Report of the Board of Directors

TABLE OF CONTENTS

REFERENCE AND ADMINISTRATION INFORMATION.....................................................3
INTRODUCTION...................................................................................................................4
GOVERNING DOCUMENT...................................................................................................4
THE BOARD OF DIRECTORS (TRUSTEES).........................................................................4
RISK MANAGEMENT...........................................................................................................5
HISTORY OF BLANDFORD FASHION MUSEUM................................................................5
OBJECTIVES.........................................................................................................................5
MANAGEMENT COMMITTEE AND ADMINISTRATION....................................................5
VOLUNTEERS.......................................................................................................................5
DISPLAY................................................................................................................................6
IDENTIFICATION AND CONSERVATION............................................................................6
VISITORS..............................................................................................................................7
PUBLICITY............................................................................................................................7
SOCIAL MEDIA.....................................................................................................................7
1. Facebook Analysis......................................................................................................8
2. Instagram Followers For The Last Three Years........................................................9
FUND RAISING AND GRANTS............................................................................................9
LIME TREE HOUSE............................................................................................................10
PRESERVATION OF LIME TREE HOUSE..........................................................................10
FRIENDS OF THE FASHION MUSEUM............................................................................11
EDUCATIONAL ACTIVITIES..............................................................................................11
TREASURER’S END-OF-YEAR FINANCIAL REPORT........................................................11
RESERVES POLICY............................................................................................................12
INVESTMENT POLICY.......................................................................................................13
GIFT OF PHYSICAL ASSETS..............................................................................................13
PLANS FOR 2021 AND BEYOND.......................................................................................13
STATEMENT OF DIRECTORS RESPONSIBILITIES..........................................................13
CLOSING STATEMENT......................................................................................................14
STATEMENT OF FINANCIAL ACTIVITIES........................................................................15
1 Voluntary Income.....................................................................................................16
2 Generating Income Activites...................................................................................16
3 Investment Income...................................................................................................16
4 Incoming Resources From Charitable Activities.....................................................16
5 Cost Of Activities For Generating Income...............................................................16
6. Apportionment Of Income & Expenditure Relating To Shop & Tearoom.................16
7 Charitable Activities Costs...........................................................................................17
8 Governance Costs.........................................................................................................17
9. Tangible Fixed Assets..................................................................................................18

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

Balance Sheet As At 31 December 2020............................................................................19

The Directors present their annual report for the year ended 31st December 2020. As Cavalcade of Costume Ltd is a registered charity and company, this statutory Directors’ report serves as the Trustee’s Annual Report.

REFERENCE AND ADMINISTRATION INFORMATION

Charity Name: Cavalcade of Costume Ltd Trading Name The Blandford Fashion Museum (wef 1 January 2009) Charity Registration Number: 10524171 Company Registration number: 3135360 Registered Office: Lime Tree House The Plocks Blandford Forum Dorset DT11 7AA Telephone: [phone] Web site: www.blandfordfashionmuseum.co.uk Email Address [e-mail] Directors Mr David Strong - Chairman Mr Murray Sims - Treasurer & Company Secretary Mrs Jean Longley Mrs Rebecca Pride Mrs Stella Walker Dr Helen Walter Ex-officio: Cllr Rosemary Holmes - Blandford Town Council Cllr Byron Quayle - Blandford Town Council Bankers: National Westminster Bank 25 Market Place Blandford Forum Dorset DT11 7AQ Solicitors: Blanchards Bailey Stour Park Blandford Forum Dorset

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

INTRODUCTION

This year, 2020, has been the most fraught and disruptive in the Museum’s history. Dealing with the fallout from the Covid-19 pandemic has been extremely challenging for the Administrator, Kathryn Reed and the loyal band of volunteers in her management team. However, working together they have met all the challenges thrown at them and shown true resilience in coming up with answers to the stop-start conditions they have had to deal with to keep the Museum afloat. Swift action to apply for every eligible Government, local authority, and other grants was effected, and the steps taken to secure the Museum have been admirable. I, and all my fellow Trustees, wish to put on record our sincere thanks to all the Staff of the Museum for their commitment and support throughout this torrid time.

With the exception of a short period in the Summer, when we were able to have restricted opening to the public with strict Covid protocols in place, the Museum remained closed throughout the year. Nearly all activities and planned events were cancelled, including our support for school’s work experience and the Duke of Edinburgh Award Scheme - although we did manage to hold a Christmas Raffle which raised some £750

GOVERNING DOCUMENT

Cavalcade of Costume Ltd was incorporated by guarantee on 7 December 1995. It has no share capital and is a registered charity. The guarantee of each member is limited to £10. The governing document is the Memorandum and Articles of Association of the company. Members of the Board of Trustees are the Directors of the company.

Full Registration status under The Museum Registration Scheme administered by The Council for Museums, Archives and Libraries was achieved in 2000. This was superseded by Accreditation status achieved in 2010. The Accreditation Scheme is administered by Arts Council England and renewal of the museum’s Full Accreditation Status was awarded on June 25[th] 2015. This status shows that the museum is maintaining nationally agreed standards on how it is managed, for the services it offers and how it cares for its collections.

THE BOARD OF DIRECTORS (TRUSTEES)

The Board of Directors has overall responsibility for ensuring the effective and efficient operation of the organisation within charity law and the objects of the charitable company.

We welcomed back Murray Sims who re-joined us on 1st September 2020 to resume the role of Treasurer and Company Secretary.

Mrs Annette Ratuszniak stepped down as a Trustee, and we extend our warmest thanks for the contribution she has made to the good governance of the Museum.

The Board met five times during the year to review the activities and finances of the company, including an Extraordinary meeting to discuss the implications of the Covid-19 Pandemic and ratify the proposal to legitimise the use of virtual meetings by teleconferencing as recommended by the Charity Commission. The EGM also ratified contingency plans written by Kathryn Reed and her Management Team that covered the following topics: decision making protocols; communication; museum fund raising, maintenance and security; the collection and display; tearoom and gift shop stock; finance and insurance; and, importantly safety of staff and volunteers.

The Board uses its discretion to select and invite appropriate people to become new Board Members. All new Board Members are offered an induction to introduce and

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

explain their role and the breadth of the company’s remit. Mrs K Brianna Oliver MA is currently a Trustee-in-Waiting. Mrs Oliver is presently Project Officer and Tutorial Assistant at the Fashion Museum in Bath.

RISK MANAGEMENT

The Board of Directors continue to assess the major risks to which the company is exposed, in particular those relating to the operations and finances of the company and reviews its systems to ensure that they mitigate exposure to the major risks.

HISTORY OF BLANDFORD FASHION MUSEUM

The nucleus of the Museum’s collection is the donated costumes, accessories and artefacts accumulated by the late Mrs Betty Penny and used, by her, to raise money for many charities. In accordance with Mrs Penny’s wish for this collection to remain intact, Lime Tree House was bought, by a benefactor, to be its permanent home and Cavalcade of Costume Ltd was established as a charity. The Museum, Cavalcade of Costume, now known as Blandford Fashion Museum, was opened in 1996. The trustees are now responsible for Mrs. Penny’s collection together with all the items which have been donated to the Museum over the past 24 years.

OBJECTIVES

The object of The Cavalcade of Costume Ltd is to provide, for the advancement of public education, a Museum for the display of costumes, together with, from time to time, other exhibits or items of social history or educational interest.

MANAGEMENT COMMITTEE AND ADMINISTRATION

Management Team Ms Kathryn Reed - Manager Mrs Valerie McKinley - Deputy Manager Mrs Stella Walker - Curator and Head of Costume and Display Dr Helen Walter - Costume Inventory and Accession Registrar Mrs Carole Fornachon - Publicity Mrs Jean Longley - Booking Secretary Mrs Lynn Dean - Friends Secretary Mrs Michelle Corben - Stewards Rostering Mrs Sandie Walters - Education Officer Mr Tony Dando - House Maintenance

The day-to-day operational management of the Museum is the responsibility of the Administrator, Kathryn Reed. In addition, the Trustees are very grateful that Kathryn supports the Trustees as Minuting Secretary at trustees’ meetings.

Kathryn chairs the Management Committee meetings which are conducted quarterly and remain open to all staff in order to increase their involvement.

VOLUNTEERS

The number of volunteer staff associated with the Fashion Museum in 2020 was 38. However due to Covid-19 only 23 were active.

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

Interestingly, over the course of the year we have seen a number of new volunteers come forward, all of whom continue to be keen to join once the Museum is ready to reopen. These new volunteers include a potential Shop Manager and an IT experienced volunteer, both of which will be most welcome.

The Museum also welcomed a new Publicity Officer, Carole Fornachon, and a new Education Officer, Sandie Walters during 2020.

During the pre-Christmas period of re-opening, a number of past volunteers visited the Museum keen to re-engage; again they will be most welcome once the Museum re-opens.

The Costume and Display volunteers have valiantly continued to work at the Museum throughout 2020 following socially distanced practices.

Michelle Corben has continued to manage the Reception Stewards’ duty roster, and Kathryn Reed has temporarily managed the Tea Room and Shop Stewards duty roster

Throughout the various lockdowns a Volunteer regular newsletter was published keeping the volunteers up to date on activities at the Museum, and appeared well received by all. The Trustees would like to thank Kathryn Reed and Carole Fornachon for their efforts with this.

The Trustee Board acknowledges with grateful thanks all the help given by the many volunteers who have given freely of their time during the year and without whom the Blandford Fashion Museum’s activities would not be possible. Particularly, in this pandemic year, the volunteers have really stepped up to support the Museum, even if they could not actually come into volunteer, the visits, messages and emails of support from them all have been particularly heart warming.

It is with particular pleasure that I record that Stella Walker and Tony Dando were recognised by the Dorset Community Volunteer Centre and Dorset Museum’s Association respectively for their many years as volunteers with the Blandford Fashion Museum. The Trustees extend their warmest congratulations to Stella and Tony for these commendations.

DISPLAY

The display rooms that were changed for 2020 were:

• Room 3 - Entitled ‘Boys and Girls Come Out to Play’, focusing on children’s wear between 1823 - 1970.

• Room 12 - Entitled ‘Make Do and Mend’, focusing on WW11. This display featured our first interactive activity where visitors of all ages could try their hand at laying out a pattern for a garment on a section of parachute. The latter could be bought off ration and the Weldon pattern company created garment patterns that would fit the triangular parachute section. Challenging but fun! This experiment in visitor participation proved very popular but Covid 19 restrictions imposed in March meant that it had to be removed until further notice.

• Room 1 - was also changed as being the point of entry to the museum there is a number of safety issues for the garments. ‘Going to the Opera’ was the chosen theme with male and female mannequins dressed in formal evening wear.

IDENTIFICATION AND CONSERVATION

Items that were identified as requiring conservation included a 1930s pale pink evening dress which was delivered to Eileen Powell’s conservation studio and returned to us by her in October 2020. During that visit, which was possible due a short releasing of restrictions, Eileen was able to look at two other items that were identified. A 1920s short

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

coffee coloured silk wedding dress to which the donor made a small donation towards the cost of conservation and a coffee coloured silk boy’s skeleton suit; the Friends of Blandford Museum are generously funding this. Both of these items remain with the conservator due to lockdown restrictions.

In this challenging year, the Team continued its work of caring, identifying and displaying the collection whilst placing careful rules and disciplines on the team to keep them safe.

The Trustees wish to express their appreciation of all the hard work undertaken by the Display Team, even in lockdown and employing strict Covid protocols, under the leadership of Mrs. Walker and the excellent display standards that continue to be achieved.

VISITORS

The number of visitors to the Museum during 2020 totalled 524, a significant reduction from 2019’s total of 1754 for obvious reasons. Particularly pleasing was, in this challenging year, the fact that16% of the visitor total were children or students.

In previous years group bookings, managed by Jean Longley, have played a vital part in raising funds for the Museum. Despite a strong start to the year events overtook the schedule of group bookings so actual numbers were significantly reduced despite Jean’s best efforts. However, many of the groups have committed to visit again once lockdown restrictions have eased.

Once again, our thanks go to Jean Longley for her tireless efforts to increase our exposure to visiting groups and organisations. Sandie Walters, the new Education Officer, will work alongside Jean and pick up responsibility for schools and other educational establishments activities in 2021.

PUBLICITY

The Museum’s new Publicity Officer, Carole Fornachon, joined the Museum at a time of great challenge and has performed admirably, under difficult circumstances, to publicise events and raise the public’s awareness of the social context within which the museum operates. In conjunction with the Museum’s Forward Plan aim of “the advancement of public education and social history”, Carole has kept up a regular supply of articles for the Blackmore Vale Magazine and the Forum Focus including some paid advertisements.

The Museum’s Facebook page has also actively been digitally marketed, during lockdown, to maintain public interest and not to let it flag for lack of access. Online articles have contained details of donations such as the 1812 dress and a 1920’s wedding dress, plus news on Grant funding for the refurbishment of the museum’s facade. It also included information on a demonstration for the Museum Friends whereby Stella and her team changed a display in front of an invited audience. This was extremely well received and popular.

Other editorials and advertisements were prepared for Dorset Life magazine and Country Child during 2020.

For 2021 contact has been made with South Today and through them Radio Solent which will hopefully pay off in terms of future relationships with both.

Finally, the Publicity Officer has also taken up the mantel of editor for the Volunteer Newsletters, and the contact for the Dorset Museum Associations newsletter.

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

SOCIAL MEDIA

One of the Strategic Aims of the Fashion Museum’s Forward Plan in 2020 was to increase the Museum’s social media presence. This decision was made doubly important with the Covid-19 pandemic, whereby the Museum’s social media presence was the main way to keep our Followers; Friends; Volunteers and the public informed about the Museum news; exhibitions (such as the VE Celebrations) and activities.

Analysis of the social media activity, see below, demonstrates the effectiveness of this “Aim” throughout 2020, and will enable the Museum to target future social media posts more effectively, hopefully driving new groups of visitors to visit in the future.

1. FACEBOOK ANALYSIS

----- Start of picture text -----
Facebook Followers by Gender
Unassigned; 2%
Men; 14%
Women Men Unassigned
Women; 84%
----- End of picture text -----

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

Facebook Reach - Top 5 Countries

----- Start of picture text -----
United Kingdom United States Brazil Spain Canada
----- End of picture text -----

2. INSTAGRAM FOLLOWERS FOR THE LAST THREE YEARS

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

FUND RAISING AND GRANTS

Blandford Fashion Museum is funded entirely by income generated from visitors; the tearoom and shop; lectures/talks; donations; grants and visiting parties. As a result of the Covid-19 pandemic 2020 was a grim year in terms of visitor numbers and subsequent significant loss of revenue. However, the Museum was successful in obtaining a number of grants which are being used for essential maintenance, ongoing operational costs, and conservation at the Museum.

Below is a list of the grant providers:

Emergency Hospitality and Leisure Grant Fund £25,000 DC Small Grants Scheme: £500.00 Blandford Town Council: £2,000.00 The Pilgrim Trust See below Dorset Leisure Fund Arts Council: £9,391.00

LIME TREE HOUSE

The Fashion Museum Trustees are very aware of their responsibilities to keep the Museum’s home, Lime Tree House, a grade II* listed building, in a good state of repair for the posterity of the town. The focus for 2020 was and going forward to 2021 will be, the refurbishment of the exterior of the building.

With the award of The Pilgrim Trust grant, who were extremely impressed with the Blandford Fashion Museum’s offering to the visiting public and the beautiful Georgian house that is the Museum’s home, the refurbishment of the exterior of Lime Tree House will commence in 2021. This matter is discussed in detail in the next section of this report.

The next phase of the carpet refurbishment was completed within a number of exhibition rooms and corridors now re-carpeted.

The Museum’s roof has required urgent repairs throughout 2020, and although these were completed, more leaks have emerged. These will be managed within the overall Refurbishment Project mentioned above.

Maintaining operational effectiveness of The Blandford Fashion Museum is not just about ensuring the building remains in a good state of repair, but also the fixtures and fittings within. In 2020, the Arts Council grant, and a generous donation from Mr. and Mrs Gordon Boutelle, enabled the Museum to purchase two new laptops and a new Museumstandard software system for the storage of the Museum’s collection of records and accession register. The Museum’s ancient desktop computers and software, holding all the essential records of the Museum’s collection, were no longer supported, and it was therefore important to replace them as soon as possible. The new laptops have been especially welcomed in 2020 with the management staff needing to work more from home.

PRESERVATION OF LIME TREE HOUSE

Towards the end of 2020, and on the instructions of The Trustees, work commenced on obtaining a specific and specialised grant from The Pilgrim Trust (based in London) for funds to assist with the refurbishment of the exterior of Lime Tree House. Earlier in the year, an extensive survey commissioned by The Trustees and undertaken by Chartered Surveyors – Jestyn Coke of Blandford Forum, had identified several areas of concern with particular attention being the condition of the windows of the front of the property, condition of the flat roof to the house and associated skylights.

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

Our application to the Pilgrim Trust was successful and we are delighted that they have given us approval in-principle for the sum of £20,000 towards the cost of improving of the exterior façade of Lime Tree House.

The Dorset Leisure Fund also provided a grant of £3,000 towards the cost of the exterior improvements.

It was determined that this major piece of work be placed under separate governance and the Treasurer, Murray Sims, offered to lead a small working group to project manage and oversee the overall program with Jestyn Coke Chartered Surveyors commissioned to project manage the drawing up of a specification of works; obtaining preliminary listed building consent; final consent; tendering and selection of a suitable contractor; and subsequent oversight of the work.

Afternote . Post end of the reporting period it can be confirmed that application for listed building consent has been made and the tendering of works is underway with a provisional completion date of early September 2021.

FRIENDS OF THE FASHION MUSEUM (Formerly CAVALCADE COMPANIONS)

In addition to her role with the Costume and Display Team, Mrs Lynn Dean has continued as Secretary to the Friends. The number of Friends has fallen slightly and currently stands at 39.

It was not possible to organise any outings this year, but the aim is to renew these as soon as possible as they are extremely well supported, and highly successful, and there is ongoing support for similar trips.

The Friends annual subscription is now formally ring-fenced for Costume conservation and there is at least one garment already in mind for the near future.

The Friends provide valuable publicity and financial support to the Museum and the trustees are most grateful to Lynn for continuing to keep the Friends in touch with the activities and events at the Museum throughout the year.

EDUCATIONAL ACTIVITIES

The planned programme of group visits and talks were seriously curtailed in 2020; a difficult year due to the lockdown. However, Helen Walter was able to give a talk in February to the W.I. at Horsington, a group visit to the museum by the Wimborne Sketching Group did go ahead, and a group of Students from Bournemouth Arts University held a workshop directed by Stella, Helen and Rebecca.

Salisbury Probus hope to rebook a talk in Salisbury for September 2021, and the Poole Arts Society Museum visit and Purbeck National Trust talk by Stella has been postponed until 2022.

The Museum Educational and Outreach Programmes, along with the Suitcase Scheme, were significantly curtailed this year but there is every intention of reactivating these

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

activities, along with the Primary School Museum trail, when conditions allow, and the Handling Collection will be expanded and enhanced as soon as possible. Covid restrictions meant that we were unable to provide support for the annual school’s work experience and the Duke of Edinburgh Award Scheme.

TREASURER’S END-OF-YEAR FINANCIAL REPORT

Cash and Liquid Investment Balances – 31st December 2020

Main Operating Account – NatWest, Blandford: £23,853.10 Friends of The Museum - Barclays Bank £2,350.75 COIF Charities Investment Fund-Accumulation Units £12,784.59 COIF Charities Investment Fund-Income Units £26,926.68 Total: £65,915.12

This compares to equivalent funds as at 31[st] December 2019 (using mark to mark revaluations for COIF), of £36,812, an increase in total funds invested, of £29,103.12 or 79.06%

The main item of note is the significant inflow of grants thanks to the terrific efforts of Kathryn Reed who led the multiple application processes. In total we received funding of some £59,891. This sum included emergency funding from central government; Dorset Council and Arts Council funds to make up loss of income because of our forced closure; funds to cover the cost of additional expenses related to reopening the Museum after lockdown; and the continuing generous funding from Blandford Town Council. In addition, we were given a Council Tax holiday for 12 months. And, finally, we received the marvellous grant of £20,000 from the Pilgrim Trust, specifically for the refurbishment of LTH. With significantly reduced income from visitors, the tearoom, and the shop, accompanied by continuing utility bills, this funding has been simply amazing.

We also received a wonderful donation from our now Life Honorary Member - Gordon Boutelle - of £1,300, towards the cost of new computer equipment. The Trustees cannot thank Gordon enough for his generosity.

The decision to invest with the Churches, Charities and Local Authorities Investment Management Limited (CCLA) has proved to be a sound one. Our original investment of £20K has seen a substantial return of some £2,134 in this current year.

In summary, the Museum’s finances have significantly improved during the course of 2021 on account of donations and grants, and the judicious control of expenditure.

RESERVES POLICY

The Trustees have determined that for safe and prudent management of day-to-day financial liquidity of the Museum and to always ensure that sufficient cash in hand is available to meet upcoming bills, invoices and monthly utility bills etc, cash reserves of at least six months average expenditure are maintained on The Museums main bank operating account. In practice this amounts to between £10,000 and £12,500 of minimum cash reserves.

In addition, where The Trustees are aware of significant upcoming or future expenditure outlays, additional cash reserves are built up particularly where it is anticipated that there could be timing differences between receipt of expected inflows/grants and expected outflows/payments. An example of the latter is the forthcoming Lime Tree House refurbishment program where there are expected to be timing gaps between outflows of cash and inflow of the grant from The Pilgrim Trust.

Surplus funds remaining over and above normal day to day patterns of expenditure and inflows of funds, are managed by placing funds in two semi-liquid reserve accounts:

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

• COIF Charities Investment Fund - Income Units

• COIF Charities Investment Fund - Accumulation Units.

The first of these provides a recurrent monthly income stream/dividend to our main bank operating account combined with some capital growth and represents the first ‘line of defence’ reserve for liquidity management. The second fund investment represents a longer-term investment from global equities and would be the second ‘line of defence’ reserve utilised in need before pursuing other funding approaches.

The Board continues to use the following criteria when examining the Museum’s reserve policy

Risk assessment (worst case basis)

• That income from visitor admissions and tearoom/shop sales could decline significantly in the short/medium term in consequence of the “knock-on” effect of local, national or international events.

• That sudden major structural or mechanical problems could arise in respect of the building. For example, maintenance of correct temperature and humidity levels are of critical importance to the Museum’s exhibits and irreparable failure of the elderly heating system would necessitate immediate replacement.

• That unplanned, significant capital expenditure could be required to ensure that the Museum would continue to comply with ever increasing regulatory requirements.

Forecast (reasonable probability basis)

• That, excluding events outside of Cavalcade’s control, future income levels should at least keep pace with inflation.

• That day-to-day administrative, building services and maintenance costs will need to be covered out of revenue expenditure.

• That conservation costs will continue at present levels for the foreseeable future.

• · That the external maintenance costs of Lime Tree House (a grade 2 listed building) will continue to be in the order of £1,500/£2,000 per annum based on an average 5-year maintenance programme.

INVESTMENT POLICY

The Trustees have from time to time taken soundings and advice from finance/investment professionals on the placing of The Museum’s surplus liquidity and have determined that, for the time being, the investments operated by the CCLA represent the most prudent approach to sound placement of funds. CCLA (web address: https://www.ccla.co.uk) are one of the UK's largest charity fund managers according to the latest Charity Finance Survey. Managing investments for charities, religious organisations and the public sector, their products and services have a strong long-term performance record, are fairly priced, are managed responsibly and address, specifically, the particular needs and challenges facing charity investors.

GIFT OF PHYSICAL ASSETS

The Board acknowledge the generosity of individuals, who have expressed the wish that they remain anonymous, who have given physical assets to The Cavalcade of Costumes Ltd. The values of the items, which are not material, do not appear in the Financial Statements.

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

PLANS FOR 2021 AND BEYOND

The Fashion Museum’s Forward Plan, created in 2020, has highlighted a number of areas to focus on, many of which have been mentioned already in this Report. These include:

• the refurbishment of the exterior of the building

• the refurbishment of the disabled toilet

• continuation of the carpet replacement

• increased social media presence

• increased accessibility to the Museum and its collection for all sections of the community

• and a commitment to becoming as environmentally friendly as possible within the confines of a Georgian property.

For 2021 however the main focus will be on the 25[th] anniversary of the Fashion Museum’s conception.

Future plans include the setting-up of new exhibitions each year to generate public interest and to maintain the historical spread of costume displayed in the museum. The Outreach programme of Fashion Lectures and Workshops will continue and, if a volunteer leader comes forward, further expansion of the Education programme and inhouse research activities will be instigated.

The strategic plan to increase visitor numbers will continue to be implemented and closely monitored.

The website will be given a higher priority with the aim to update it on a regular basis. The programme of identification, assessment and selective conservation of significant costumes and accessories will continue.

STATEMENT OF DIRECTORS RESPONSIBILITIES

Charity law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that period and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements, the Directors are required to:

1. select suitable accounting policies and then apply them consistently;

2. make judgements and estimates that are reasonable and prudent;

3. state whether the policies adopted are in accordance with the appropriate SORP on Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and

4. prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.

The Directors are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

CLOSING STATEMENT

The global corona virus pandemic meant that 2020 was a year like no other for Cavalcade of Costume Limited but, despite many setbacks, the Management Team and all our dedicated volunteers have remained resolute and positive about its future. The financial performance of the Museum has been consolidated, and our exhibitions continue to attract favourable Press and public comment. There is a real desire to increase visitor numbers especially among the younger demographic and make more use of the educational facilities available. Every effort will be made to ensure that all aspects of the Museum’s activities will continue to be maintained to the highest possible standard.

The development of the Museum over the last 24 years has only been made possible by the initiative, skill, talents, dedication and hard work of every single volunteer. The trustees are confident that given that level of support The Blandford Fashion Museum can, and will, continue to build on its already outstanding reputation.

By Order of the Board

Chairman

6[th] May 2021

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES
	for the year ended 31 December 2020
		Notes		General Restricted		Total Total
				Fund Funds		2020 2019
				£	£	£ £
Incoming Resources
Generated from funds
Voluntary Income		1	41,072			41,072 5,124
Activities for generating funds		2		3,376		3,258 11,578
Investment Income		3		391		391	-
From Charitable Activities		4		2,021		2,139 7,291
Other Incoming resources				1,718		1,718
506
		______			______	______
Total Incoming Resources				48,578		48,578
24,499
			_			__ ____
Resources Expended
Cost of generating funds
Activities for generating
Income costs	5		1,393		1,369 2,773
Charitable Activities		7	21,356			21,406 23,090
Governance Costs		8		330		330 330
			______		__ ____
Total Resources Expended				23,079		23,105
26,193
				______		______	-
______
Net incoming/(outgoing) resources
before transfers			25,499		25,499 (1,694)
Net movement of funds				25,499		25,499 (1,694)
Balances brought forward at1 Jan 2020				291,409		291,409
293,103
			_			_ ______
Balances carried forward at
31 December 2020				316,908		316,908
291,409
				_		_
_

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

1	VOLUNTARY INCOME	2020		2019
			£
£
	Donations	1,686	509
	Gift Aid	110		-
	Grants	39,276	4,615
		41,072	5,124
2	GENERATING INCOME ACTIVITES	2020
2019
				£
£
	Fundraising	746	967
	Museum Shop Sales	519	2,357
	Tearoom Income	1,874	5,928
	Education	237	2,326
	Miscellaneous		1,718
506
		5,094	12,084
3	INVESTMENT INCOME	2020
2019
				£
£
	COIF Investment	391
4	INCOMING RESOURCES FROM CHARITABLE ACTIVITIES			2020
	2019
				£
£
	Subscriptions	405	650
	Visitors (£1,627 less Credit Card Charges £11.00)		1,616
6,641
		2,021	7,291
5	COST OF ACTIVITIES FOR GENERATING INCOME	2020		2019
		£	£
	Shop Purchases	621	966
	Shop Credit Card Charges			3
-
	Tearoom Purchases	758	1,807
	Tearoom Credit Card Charges	11	-

17

Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

1,393

2,773

6. APPORTIONMENT OF INCOME & EXPENDITURE RELATING TO SHOP & TEAROOM

		2020	2019	2019
		£		£
Income:	Shop Income		519	2,357
	Tearoom		1,874	5,928
			2,393	8,285
	Cost of Sales		1,393
2,773
	Gross Proft		1,000
5,512
Expenditure: Repairs and Renewals				529
309
	Insurance	103		94
	Light and Heat	1,173		1,468

Continuation of Page 16

ion of Page 16
2020 £ Publicity and Advertising 107 Cleaning 90 Continues from page 16 Postage and Stationery Telephone 42 Rates 37 Sundries - Nominal Wage for Volunteers 2,834 Proft/Loss (1,834) Corporation Tax Liability Nil	2019 £ 59 135 11 52 192 - 742 6,250 735) Nil	18 3,920

All expenses except light and heat are calculated at 7.5% of the total costs. Light and heat are calculated at 33% of the total.

The nominal wage for volunteers is calculated as 53 days x 7 hours x 2 volunteers x £1.

7	CHARITABLE ACTIVITIES COSTS		2020		2019
		£		£
	Artwork and Administration		33			33

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Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

	Statements 2020
	Bank Charges		-	-
	Cleaning	1,205		1,841
	Conservation		664	1,553
	Depreciation		814	486
	Educational Costs	-		1,418
	Equipment and Display			321
238
	Insurance	1,380	1,257
	Light and Heat		3,882	4,450
	Postage and Stationery			146
239
	Publicity and Advertising	1,422		789
	Rates inc. Water	496		2,564
	Repairs, Renewals and Maintenance		7,054	4,121
	Security	402		2,515
	Subscriptions		55	242
	Sundries	2,917	656
	Telephone	558		688
	Web Site	7		-
	HMRC		---	---
		21,356		23,090
8	GOVERNANCE COSTS		2020	2019
				£
£
	Accountancy	330		330

19

Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

9. TANGIBLE FIXED ASSETS

Fixed Assets Improve.to Freehold Freehold Furniture Alarm Total Property Property Equipment £ £ £ £ £ COST: At 1 January 2020 230,000 23,431 22,724 889 277,044 Additions 2,128 _ __ _ ___ _ 230,000 23,431 24,852 889 279,172 At 31 December 2020 230,000 23,431 24,852 889 279,172 _ ___ DEPRECIATION: At 1 January 2020 22,121 874 22,995 Charge for year 811 3 814 _ ___ _ At 31 December 2020 22,932 877 23,809 _ _ _ _ __ NET BOOK VALUE: At 31 December 2020 230,000 23,431 1,970 12 255,363 __________ At 31 December 2019 230,000 23,431 1,931 15 255,377 ____________ 10 DEBTORS 2020 2019 £ £ Costume - - 11 LIABILITIES FALLING DUE WITHIN ONE YEAR 2020 2019 Accruals 330 330

20

Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

12 GENERAL UNRESTRICTED FUNDS

The funds comprise undistributed income and have been and continue to be used in the furtherance of

the Charity’s objectives.

13 RESTRICTED FUND

The freehold property, Lime Tree House is in Trust to the Cavalcade of Costume Ltd.

14 THE BOARD OF DIRECTORS’ REMUNERATION

No member of the Board or related parties received fees or other emoluments.

		BALANCE SHEET AS	BALANCE SHEET AS	AT 31 DECEMBER 2020	AT 31 DECEMBER 2020
					2020
		2019
			Notes		£
	£	£
	Fixed Assets
	Tangible	fxed assets	8		255,363
255,377
	Current Assets
	Stocks			671
1,168
	Debtors			-
-
	Cash in hand and at banks			26,204
25,194
	CCLA Acc.Units. C/V £12,759		10,000
10,000
	CCLA Inc.Units. C/V £26,873		25,000		61,875
	Liabilities:
	Amounts	falling due within one	year	330
330
		_				______
	NET CURRENT ASSETS				61,545
		36,032
					_
______
	TOTAL ASSETS LESS CURRENT				316,908
291,409
	LIABILITIES
	NET ASSETS				316,908
	291,409

21

Cavalcade of Costume Ltd Annual Report and Financial Statements 2020

FUNDS

FUNDS
General unrestricted	86,908
61,409
Restricted	230,000	230,000
	_	_
TOTAL FUNDS	316,908	291,409
		_

---

For the financial year ended 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

1. Members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.

2. The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

3. These accounts have been prepared in accordance with the provision applicable to companies subject to the small companies’ regime.

The financial statements were approved by the Board of Directors on 6[th] May 2021 and were signed on its behalf by:

Chairman

Treasurer and Company Secretary

22