## **RYE MUSEUM ASSOCIATION** # **DIRECTORS’ REPORT AND ACCOUNTS** # **FOR THE YEAR ENDED 5[TH] APRIL 2021** COMPANY NUMBER: 3226143 REGISTERED CHARITY NUMBER: 1057421 RYE MUSEUM ASSOCIATION DIRECTORS. REPORT FOR THE YEAR ENDING 5 APIUL 2021 The Directors pr¢s¢nt their report together wilh their accounts for the year end¢d 5 April 2021. Rye Museum Ass(Kialion is a private CoM￿nY limited by 8uarant¢e (nutnber 3226143) incorporated 17th July 1996. It was registered as a Charity (number 1057421) on 8th Au8usI 1996. DlreetorJ: The Directors who 5¢rYed during the year were: Jo Kirkham Sheila Maddock Diana Hajikakou Michael Boyd Johi) Breeds Alan Dickinson John Lanigan Susan Mankteloiv Yvonne Metcalf Heather Stevenson Lesley Voic¢ Chaimlan Hon T￿asUrer Hon Company Secretary Objeet8 and Policies: The company was fornied in succession to ihe unincorporated association of the same name. Its objecliv¢s are the provision of museum facilities in the Rye area. and the advancement of education and Ihe exhibition of objects and coll¢¢tions with a Rye connection. The Stewards are.. Mike Beny. Ted Em50n and Toby Mayor. Bankers.. Charities Aid Foundation Bank Solicilors- Heringtons. Bank Chamber& Rye Reporting Examiner: B.A. Anlrobus Bsc (Open) FCA CTA, Lyndhurst. Peasmarsh. E. Sussex 3. East StreeL Rye, E. Sussex, TN317JY Registered Office.. Activities Aud fillance: The Association owns two mus¢um sites at the Ypres Tower and 3 East Sireel, Rye. The Directors are satisfied that the company Can meet its financial obligations. Summary of Aetlvltles durfng the Year: Rye Mus¢um Ass(Kiation continues to fulfil its commitments a¢¢ording to the Objeclives and Policies of the Association. During the year April 2020 to March 2021 total income was £71.992 most of which came from the government granl of £35,000 at the beginning of lockdown, and the monthly fi￿lOugh grant to cover staff wages. There was no income from the Tower as it did not open during the year. Expenditur¢ (excluding depreciation) was £45.604 including staff wages. The cash in the bank &s at April 2021 was £215.000 so the financial position remains healthy. All the staff have been furloughed for the whol¢ year 2nd the Directors acknowledge the voluntsry work of Ted Em50n and Sarah Coop¢r in doing regular building and fir¢ checks on our buildings and care of our exhibils. SaT811 Heei)an retired in August. During the 2020-2021 year. the Museum DirecloTS have met regularly by Z￿M in OTder to deal with Museum matters. Especially Challenging have been the production of Risk Assessments due to the distancin8 restraints and other government regulations. We have obviously had no social events but have continued to produce a monthly e Newsletter with interesting items. Our regular Talks programme resumed in February 2021, also by Zoom. and these have proved popular and resulted in several neiv members. W¢ have received several small 8ifts for the Collections: A lovely water colour of Rye from th¢ SW- looking up at ihe Hope Anchor end of Watchbell Street from the Strand. By George Shepherd, it was Paint￿ in 1822 Some local books and pap¢rs for the Library from a fomier Direclor who is moving house. Pap¢rs on the Second World War from the daughter of a man who ran Prisoner of War Camps betweeii Rolvenden and Fairlight. TFte extension of the office at East Street to provide a new Study CentrelLibrary is cornplpA¢. but we have nol had the chance lo organise it for use. due to the closure. Once again, the Directors wish to extend their ivarni¢st thanks to the many volunteers amongst their members ivithoul whom the Museum Could not function. Dlrectors, Responsibilities: Company law requires the Directors lo prepare a¢¢ounts for each financial yfdr whi¢h give a true and fair view of ihe state of the ¢ompwiy's affairs and of the surplus or deficit for that year. In prepariiig ihcse accounts the Directors are required io: Make suitable accounting polici¢s and then apply them consisteTrtly' Make judgements and estim81es that are reasonable and prudent- Prepare ihe accounts on the goin8 wn¢¢rn basis unless it is inappropriate to presume thai ihe ¢ompany will Continue in business. The Direclors are r¢sw)nsible for keeping prop¢r accounting r¢cords which disc105e, with reasonable acciiracy at any time, tlie finAncial position of the ¢ompany and enable them lo ensure ihai ihe accounts Coinply willi the Coi)Ipanics A¢t of 2006. They are a150 responsible for safeguarding th¢ assets of the company and hence for takiiig reasonable sleps for th¢ prevention and detection of fraud and other irregularili¢s. Under Charity Law, the Directors of Rye Museum Association are considered to have the slalus and responsibilities of Trustees. Risk analysis.. the major risks lo which the charity is ¢xw)sed have iK¢n identified by the Director& h8ve been reviewed and systems are in place lo mitigate those risks. The Treasurer wishes to record her thanks to Ann 8nd Nigel Antrobus who, once again, have worked so hard on these accounts. Approved by the Board of Dtreclors on ￿ July* 2021 and signed on its khalf, J Ily, D. Hajikakou Hon. Company Secrelary Independent F.xaminer's Rcporl on th¢ Unaudiled Financial Statements to the Directors and Trustees of the R),¢ Museum Association Chari¢), No: 1057421 Compan). No: 3226143 report lo the charity truslees on my examinalioii of ili¢ accounts of Ihe Coinpany for tl)e }'ear cndcd S, April 2021 set out on pages 5 to l O. Responsibilities and basis of report As tlie ¢liarity's trLlStees of the Compan) (ii,ho are also lh¢ direciots of tlie coii)pany for I1)e purposes of¢onipan}' laiy), )'ou are responsible for the preparalion of ilie accoui)Is iii accordaiice wilh the requireinents ofihe Coiiipanies Aci 20061'Mhe 2006 Act"). Having satisfied m)'self that the accouiil5 of the Coiiipan), are not rcqLiired io be audited for tliis ycar ui)d¢r Part 16 of the 2006 Act and are eligible for indep¢iideiit exainii)alioii, I report iii respeci of Ins, exainiiiation of your charity's accounts as carried out Linder se¢tioii 145 of thc Charities Act 2011 {'Ihe 2011 Act"). In carr)'ing out Iny eiaiiiiiiatioii, I hai'e folloi4.ed the Directioiis gii'¢n by tlie Charity, Commission (undcr sfftion 145(5Xb) ofilie 2011 Act. lrtdependent examiner's statement I have completed my examination. I confirm that no material malters hai'e come to my attentioii ivhich gil'es me caus¢ to believe that: accoui)ting records th'ere not kept in accordance i*iih seclioii 386 of the Coinpai)ies Acl 2006. or tlie accoiiiits do not accord i1.ilh such records: or the accoiints do not compl). Ivitli relevani accounting requireiiieiits under section 396 of tl)e Coiiipai)ies Act 2006 otlier tlian aiiy requiremei)t that the accoui)ts gil'e a 'lrue aiid fair, vieii, ￿,hICh 15 nol a mall¢r coiisidered as part of an iiidepciid¢i)l eiaiiiinatioii; or the ac¢ounts have not beeii prepared in accordance I￿lIh ihe Cliarities SORP (FRS102)- I liav¢ iio conceriis aiid hai'e coinc a¢ross iio other matters in ¢0iiiiectioii ii'iih ilie exaiiiinatioii to wliich atteiition sholkld ￿ drawn iii order io enable a proper understanding of ilie accounts to be reached. Lyndhurst Main Sireet Peasmatsh. Rye Easi Sussex TN316YA B A Antrobus Bsc (Open) FCA CTA ¥. RYF. MUSF.UM ASSOCIATIO￿, STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR EIYDED Sth APRIL 2021 ITJbrestri¢t¢d Funds 2021 Rfstrieted Funds 2021 TotRI Funds Tolal FuSbds 2020 Nott 2021 Inconie Donations and legacies Charitable a¢iivilies Other IrAding llclivilies Iiiveslm¢nt incoine 71,992 71.992 26,508 82,503 6,909 1,006 89 573 89 573 TOTAL INCOME 72,654 72.654 116926 Expenditure Raising funds Chai'itable activities Depi'ecialion 4,023 83,280 46,011 45,604 13,258 45.604 44,454 31,196 TOTAL EXPENDITURE 58.862 133314 NET SURPLUSI (DEFICIT) FOR THE YEAR 13,792 {31,196) (17,404) {16,388} Funds brought forn'ard Traiislers betii'een fuiids Fulids carried forn'ard 344,048 139,959 484,007 SOO,395 357.840 108 763 466 603 484 007 There iverc no recognised gain5 and losses other than ihose shoii-.n al)ove. I'he notes oli pages 7 to l O fomi part of ihe5e accounis. RYE MUSEUM ASSOCIATION BALANCE SHF.ET AT 5ih APRII. 2021 Note 2020 Fixed Assets Taiigible Assets 250,450 292.924 Current Assets Sio¢k D¢btOTS and prepayments Casti at batik Casli ii) liand 1,107 500 215,427 19 1.107 2,930 187,926 20 217,053 191,983 Less: Current Liabilities Ci'editors and accrlials 9(Kl 216,153 900 191,083 NF.T ASSETS 466,603 484,007 Fund$ of the Charity Restricted income funds: io 108,763 139,959 Unrestricted income funds: Geiieral Piirposes Fuiid 357,840 344,048 TOTAL FUNDS 466,603 484,007 The company ivas entitled io exemption from audit under s 477 of the Companies Act 2006 relating io sn)all conipaiiies. The Inembeis have r¢quired the ¢ompany io obtain an audil In accordance M'iih s 476 ofthe Companies Act 2006 The directors acknowledge their resEx)nsibililies for complying i%'iih the requirements of ihe Companies Aci i%iih respect io aceoiitlting record5 and the preparalion of ihe accounis. These accounts have been prepared in accordance with ihe provisions applicable io small companies subject io ihe small Companies regime and in accordance with FRS102 SORP. These a¢counts i%ere approved b>, Ihe Board on 7." ..1.ffj 2o.2.J. htila Jladdock TrusleelDirtttor RYE MUSEUhl ASSOCIATION r40TES TO THE ACCOUNTS FOR THF. YF.AR F.NDF.D APRIL 5th 2021 l Basis of preparation 1.1 Basis of Ateounting These accounts haie been prepared under Ihe hisloric cost convenlion with items recognised ot ¢ost or transaetion value unle55 oihetli'ise stated in the ielevant noies lo Ihese accovnts. The aecounts have been prepared in aeeordance iiilh: the Siatenient of Recon)mended Praclice.. Accounting and Reporting b). Charities preparing tlieir accounts in accordance ii'ith ihe Financial Rewrting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 Jul). 2014 and ivith the Charilie5 Ac(2011. The chaTity constitute5 a public benefit entility as defined by FRS 102. 1.2 The compan}, is nol registered for VAT. All item5 in the aeeounts include attribulable VAT. 1.3 Change of accounting polic). The accoun15 present a tnie and lair vie￿, and no changes h8v¢ been inade to the accounling policies adopted in note 2. 2 Actounting policies 2.1 INCOME Recognition uf income These are included in the Siaiemeni of Financial Activities (SOFA) ￿.hen Ihe mon¢tary value can be tneasured ivith sufficient reliabilit),. There has been no offsetting (Trf assets and liabilitie& or income and expenses unless required or penniiied by ihe FRS 102 SORP or FRS 102. Gtan¢5 and donalions are onl), included in the SOFA ii'h¢th th¢ general income crileria are met (5.10 to 5.12 FRS102 SORPI. The charit). has received govemmeni granis in the reporting period. The charil). has incurred expendilure on suryort costs. Offsttting Grants and donations Governmeni grani$ Support Costs 2.2 EXPENDITURE AND LIABILITIES Liability nrognition -iabilities are recognised ii'here there is a legal or consirueiive obligation comniitting ihe charit). to pay oui resources ai)d the ainount of the obligation can be mvd5ured iviih reasonable certainty. The charity has credilors ivhich are Imeasured at 5eltlement amount5. Creditors 2.3 ASSETS Tangible fixed asset$ Th4. are capilalised if ihe), can be used for more than one year and cost at leasi £100. They are valued at cost. Storks and M'ork in Stock of publications for resale is valued al the lo%¥tr of cosi and net rrali5able value. after making allow?￿e for obsolete aml sloii. moving iieins. progress Debtors Debtors (including trade debtws and loans receii?ble) are m¢x%ured on initial recogniiion at 5eiileinent amounl. RYE IIIUSEUTrI ASSOCIATION NOTF.S TO TTIF. ACCOUPITS FOR THE YEAR EPIDED Sih APRIL 2021 Anal>'sis of income l.'nrtstricted Funds Restrlcttd Funds Total Funds 2021 Total Funds 2010 Donations, Legacies, and Gr*rtts Doiiation5 and Gift Aid Grants- general Subscripiions 9.152 60,320 2,52Q 71,992 9,152 60,320 2.520 23.130 1,100 2,278 Charitable actii'ities Enirj f¢¢s Othtr trmding aclii'ities Fund raising activities Sales (trading) 3,086 3.823 6.909 89 89 89 89 Ini'estment income Bank interest received 573 573 1.006 Anal)'si$ of expenditure Eipendilure on raising funds S(agiiiig fiindraising events Advert15ing and promotion Cost of sales (trading) 507 796 2.720 4,023 Expenditure on charitable aetiyities Professional fees Salaries Reiii. Tates and ii'aier Light aiid heat Maintenance & Conservation Telephone & Web Postagc and siaiionery Secretarial e.xpenses Siii)dry Expei)ses Insiirance and Securit). Siibscriptions & affiliation fees Accoiintanc). fees (note 5} 3.383 26.853 249 1.937 1.365 757 3,383 26,853 249 1.937 1.365 757 1.905 41.832 1.448 7,637 15,680 2,528 240 947 2,046 7,754 363 455 684 8.553 468 900 455 684 8.553 468 900 45,604 45.604 83,280 RYF. MUSEUM ASSOCIATION 'OTES TO THF. ACCOUNTS FOR THE YEAR ENDED APRIL 5th 2021 Unrestri¢ted "unds Restri¢l¢d frunds Total Funds 2021 TotAI Funds 2020 Fees foT examination of accounts Independent examiner's fee 9(K) Fixed Assets Freehold Offite ert TOTAL Cost blfii.d Additions Cost clfwd 1,03i.260 1,980 1.037.240 153,394 39.487 1.228,141 1,980 1.210.121 153.394 39.487 Accuiniilated deprecialion wfi%,d Depreciation for period Accuiniilaled depreciation clfw"d 770.433 40.788 811.221 139.067 1.600 140.667 25,717 2.066 27.783 935.217 44,454 979,671 Balance at 5th ApTiI 2021 226.019 12.727 11,704 250,450 Balance at 5th April 2020 264 827 14.327 13,770 292,924 Freehold property comprises: (before depreciation) 3 East Street, Rye- cost Woinens, Tower- capiialised improveinent expendilure Ypres Toth."er- ¢ost Y Jpres Toi¥er- capiimlised improvement expendiiiire 3 East Street. R}e capitalised iinproveiiient expeiiditure 157,795 311,955 501 267,631 299,358 1,037.240 Depreciation is provided on fixed assets at the folloii'ing annual rntes based on the estimated useful life and anticipated residual vali￿. Freehold improvements Display equipmeni: flirnitiire. fixture5 and fittings coinpllter eqliipment Ofti¢e equipiiieni lov on cost IOVO on cost - on cost reducing balan¢¢ basis No depreriatlon is proi'ided on the original acqui5ilion ¢051 of ihe freehold land aiid biiildii)gs. Iii ac¢ordaiicc m.ith the Teconimeiidations ofthe Stateiii¢iit of R¢roiTJli)ended Practice oli Accoiiiitii)g b>. Cliarities. tlie Perinanent Collection of N4useuii) L￿]ibItS Ilas beeii excluded froin tlie Balai)ce Slieet. See note I l. RYE MUSEUM ASSOCIATIOYI NOTF.&¥ TO TIIE ACCOUIYTS FOR THE YEAR Tr.NDED Sih APRIL 2021 Fixed A$$e¢$ (Continued) Depreciation Unrtstricled Restricted Total Funds 2021 Total Funds Funds Funds 2020 Voiiieiis, Toiler All oilicr asseis 31.196 31,196 13,258 44,454 31,196 14,815 46.011 13.258 13,258 31.196 Dliring 1997, the freehold of ihe Ypres Toli'er il'as purchased at a cost of £1 plus legal expeiises of £500. Tlie Ypres Toil'er freehold is siibject to pre-ei)Iption rig])ts grai)t¢d to Rother Dis(rict Council aild Rye Toii'n Couiicil granting ihan a riglil of purchase in tlie eveiit of a sale. Stocks 2021 2020 Opening stock for resale Added in period F.xpensed in period Closiiig st(Kk ,107 1.614 2,213 (2,720) 107 2021 2020 Debiors Prcpaymeiils and detK)siIs 500 2,930 Creditors Accruals aiid payables 900 900 io Restricted income funds eni In¢omin Re50urtes Closi BAlxnte Resources ended BRIHntc Geiieral Fund Fabric flind Gardeii Fund Lottery Fund Woineiis, Toi%'er Fund 3,531 69 82 3,531 69 82 136.?77 139,959 31,196 105,081 108 763 PermAnent collection The permaiieiil collection of mu5eLim exhibits is held b)1 the R>,¢ Muscuin Triist. 12 Limited b). guarantee Rye MuseLlliI Asslxialioii is a registered cliorit).. It is a priiJate ¢oiiipai)y liiiiited b>- guarai)lee, aiid does i)oi hai'c a sharc capiial. Tlie liabilit), ofeacli Iiieiiiber is liinited to £1.