RYE MUSEUM ASSOCIATION
DIRECTORS’ REPORT FOR THE YEAR ENDING 5[TH] APRIL 2025
The Directors present their report together with their accounts for the year ended 5[th] April 2025
Rye Museum Association is a private company limited by guarantee (number 3226143) incorporated 17th July 1996. It was registered as a charity (number 1057421) on 8[th] August 1996.
Directors:
The Directors who served during the year were:
Stephen Masters Chairman Sheila Maddock Hon Treasurer Juliet Duff Hon Company Secretary Geoffrey Austen Alan Dickinson Jo Kirkham Susan Manktelow Yvonne Metcalf Heather Stevenson Jen Tomkinson Lesley Voice
Objects and Policies:
The company was formed in succession to the unincorporated association of the same name. Its objectives are the provision of museum facilities in the Rye area, and the advancement of education and the exhibition of objects and collections with a Rye connection.
Bankers: Charities Aid Foundation Bank Solicitors: Heringtons, Bank Chambers, Rye Reporting Examiner: B.A. Antrobus BSc (Open) FCA CTA, 113 Shakespeare Tower, Barbican, London EC2Y8DR Registered Office: 3, East Street, Rye, E. Sussex, TN31 7JY
Activities and finance:
The Association owns two museum sites at the Ypres Tower and 3 East Street, Rye. The Directors are satisfied that the company can meet its financial obligations.
Summary of Activities during the Year:
Rye Museum Association continues to fulfil its commitments according to the Objectives and Policies of the Association.
During the year April 2024 to March 2025 total income was £179,192 and expenditure £123,639 The cash in the bank is £375,969 so the financial position is healthy.
Rye Castle/Ypres Tower has been fully opened. Visitor numbers to the Castle/Tower were 26,578 adults and 5,133 children. Total 31,711.
East Street was open during summer weekends, during the Rye Arts Festival in September 2024, for the Christmas in Rye Festival in December 2024 and on Friday mornings from end of May 2024, staffed by volunteers, and the number of visitors were 8,965 adults and 883 children. Total 9,848.
During the 2024-2025 year, the Museum Directors have met regularly, by Zoom moving to meeting in person from March 2025, to deal with Museum matters.
We had several social events: a Summer Solstice party in June 2024 for members at the Tower; a WW2 supper and talk for members in East Street in November 2024 and a 12[th] Night party and talk in January 2025.
We have continued to produce a monthly e-Newsletter with interesting items. Our normal Talks Programme and study day have continued. In July there was a trip to Standen and Sackville College.
Children’s craft days were held at East Street in April and August 2024.
Monthly Volunteers’ Third Tuesdays for volunteers to help with a variety of projects started in November 2024. In November members of Rye Fire Brigade cleaned and polished the museum fire engine.
The museum has worked with the Lossenham Project and in June 2024 received a grant from them for new cabinets to display their archaeological finds and pottery, and an interactive screen to present information about the project.
We received grants for racking for the container at the Creative Centre which enabled us to reorganise the stored items there, and for purchasing PEL conservation materials.
We have received several gifts and acquisitions for the Collections:
-
A Box of c. 20 documents about the Auctions of ‘Underwood’ from farms in the vicinity between 1880 and 1930.
-
We received an ‘almost’ complete model of the Rye built ship ‘The Raven’. It came with the final bits to finish it off – the completed sails etc.
-
Another Valuation Book from Auctioneers Reeve and Finn – No 88 – was received together with its Code Book and Code Breaker Sheet.
-
This came with a lockable wrist band to secure the money bag to the horse rider when he was bringing cash from the villages to Rye to Bank – a Highwayman preventative measure
-
We received a box of items from a former Rye Harbour resident: it included a half-model of ‘The Three Brothers’ which her father – a model maker had produced. A wooden compass with pegs; some newspaper cuttings: some pages from a photograph album of Rye; and two programmes for the old Rye Regatta in 1872 and 1874.
-
Postcards of local scenes.
-
Rye Pottery donated 2 bookends of the lion and the unicorn to commemorate the Platinum Jubilee.
-
A selection of clay pipes from a Seaview Terrace garden.
-
A drinking glass was bought at auction inscribed with the Alert of Rye – a cargo ship built by Hessell and Holmes in Rye transporting flint to Sunderland for the glass making industry there and bringing back coal and timber. Also engraved with the name of the Elizabeth Matilda Holmes for her birth in 1843.
-
Planometer – used by surveyor for maps
The team have continued to work on recording the Collections so they can be searchable on the computer:
-
Alan and Lesley – items from the Castle/YT cells
-
Jo – Graham Mayhew’s documents from Tudor Rye
Once again, the Directors wish to extend their warmest thanks to the many volunteers amongst their members without whom the Museum could not function.
Directors' Responsibilities:
Company law requires the Directors to prepare accounts for each financial year which give a true and fair view of the state of the company's affairs and of the surplus or deficit for that year. In preparing these accounts the Directors are required to:
Make suitable accounting policies and then apply them consistently Make judgements and estimates that are reasonable and prudent
Prepare the accounts on the going concern basis unless it is inappropriate to presume that the company 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 company and enable them to ensure that the accounts comply with the Companies Act of 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Under Charity Law, the Directors of Rye Museum Association are considered to have the status and responsibilities of Trustees.
Risk analysis: the major risks to which the charity is exposed have been identified by the Directors, have been reviewed and systems are in place or are being put in place to mitigate those risks.
The Treasurer wishes to record her thanks to Ann and Nigel Antrobus who, once again, have worked so hard on these accounts.
Approved by the Board of Directors on July 22[nd] 2025 and signed on its behalf,
- J. Duff Hon. Company Secretary
Independent Examiner’s Report on the Unaudited Financial Statements to the Directors and Trustees of the Rye Museum Association Charity No: 1057421 Company No: 3226143
1 report to the charity trustees on my examination of the accounts of the Company for the year ended 5" April 2025 set out on pages 5 to 10.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, | have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
-
® accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
e =the accounts do not accord with such records; or
-
e the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
-
e the accounts have not been prepared in accordance with the Charities SORP (FRS102).
1 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
----- Start of picture text -----
“hee bededen
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B A Antrobus BSc (Open) FCA CTA
113 Shakespeare Tower Barbican London EC2Y 8DR
23 July 2025
Page 4
RYE MUSEUM ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE ENDED 5th[APRIL][2025]
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Note|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|
|£|£|£|£|
|Income|3|
|Donations and|legacies|27,149|-|27,149|22,347|
|Charitable|activities|133,836|-|133,836|134,663|
|Other trading|activities|12,652|-|12,652|9,398|
|Investment|income|5,555|-|5,555|3,824|
|TOTAL INCOME|179,192|-|179,192|170,232|
|Expenditure|4|
|Raising|funds|6,692|-|6,692|6,361|
|Charitable|activities|100,108|-|100,108|94,025|
|Depreciation|6|16,839|-|16,839|38,882|
|TOTAL EXPENDITURE|123,639|-|123,639|139,268|
|NET|SURPLUS/|
|(DEFICIT) FOR THE YEAR|55,553|-|55,553|30,964|
|Funds|brought forward|466,568|22,635|489,203|458,239|
|Funds carried|forward|522,121|22,635|544,756|489,203|
----- End of picture text -----
There were no recognised gains and losses other than those shown above.
The notes on pages 7 to 10 form part of these accounts.
Page 5
RYE MUSEUM ASSOCIATION
BALANCE SHEET
At 5th APRIL 2025
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Note|2024|
|£|£|£|£|
|Fixed|Assets|
|Tangible|Assets|6|167,276|168,029|
|Current|Assets|
|Stock|7|2,556|2,861|
|Debtors|and|prepayments|8|-|400|
|Cash|at|bank|375,969|319,412|
|Cash|in|hand|55|26|
|378,580|322,699|
|Less:|Current|Liabilities|
|Creditors|and|accruals|9|1,100|377,480|1,525|321,174|
|NET ASSETS|544,756|489,203|
|Funds|of the|Charity|
|Restricted|income|funds:|10|22,635|22,635|
|Unrestricted|income|funds:|
|General|Purposes|Fund|522,121|466,568|
|TOTAL FUNDS|544,756|489,203|
----- End of picture text -----
The company was entitled to exemption from audit under s 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with s 476 ofthe Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to smail companies subject to the small companies regime and in accordance with FRS102 SORP. o[yo][—] - These accounts were approved by the Board on 3 .~ ily 2028...
Sheila Maddock
Trustee/Director
Page 6
RYE MUSEUM ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2025
1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared on a going concern basis in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entitity as defined by FRS 102,
-
1.2 The company is not registered for VAT. All items in the accounts include attributable VAT.
-
13 Change of accounting policy
-
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 2.
2 Accounting policies
2.1 INCOME Recognition of income These are included in the Statement of Financial Activities (SoFA) when the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SoFA when the general income criteria are met (5.10 to 5.12 FRS102 SORP),. Government grants The charity has received government grants in the reporting period. Support Costs The charity has incurred expenditure on support costs.
2.2. EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised where there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Creditors The charity has creditors which are measured at settlement amounts. 2.3 ASSETS Tangible fixed assets They are capitalised if they can be used for more than one year and cost at least £100. They are valued at cost. Stocks and work in Stock of publications for resale is valued at the lower of cost and net progress realisable value, after making allowance for obsolete and slow moving items. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount.
Page 7
3 Analysis of income
RYE MUSEUM ASSOCIATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED Sth APRIL 2025
| 3 | Analysis of incomeincome | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds 2025 | Funds 2024 | ||
| £ | £ | £ | £ | ||
| Donations and legacies | |||||
| Donations and GiftAid | 12,442 | - | 12,442 | 2,966 | |
| Grants - general | 13,284 | - | 13,284 | 17,100 | |
| Subscriptions | 1,423 | - | 1,423 | 2,281 | |
| 27,149 | - | 27,149 | 22,347 | ||
| Charitable activities | |||||
| Entry fees | 133,836 | - | 133,836 | 134,663 | |
| Other trading activities | |||||
| Fund raising activities | 3,318 | - | 3,318 | 1,621 | |
| Sales (trading) | 9,334 | - | 9,334 | 7,777 | |
| 12,652 | - | 12,652 | 9,398 | ||
| Income from investments | |||||
| Bank interest received | 5,555 | - | 5,555 | 3,824 | |
| 4 | Analysis ofexpenditure | ||||
| Expenditureon raising funds | |||||
| Staging fundraising events | 1,844 | - | 1,844 | 361 | |
| Advertising and promotion | 2,017 | - | 2,017 | 1,424 | |
| Cost ofsales (trading) | 2,831 | - | 2,831 | 4,576 | |
| 6,692 | - | 6,692 | 6,361 | ||
| Expenditure on charitable activities | |||||
| Professional fees | 2,806 | - | 2,806 | 2,678 | |
| Salaries | 50,892 | - | 50,892 | 48,215 | |
| Rent, rates and water | 1,437 | - | 1,437 | 990 | |
| Light and heat | 7,558 | - | 7,558 | 5,122 | |
| Maintenance & conservation | 16,985 | - | 16,985 | 8,924 | |
| Telephone&web | 2,646 | - | 2,646 | 2,402 | |
| Postage and stationery | 405 | - | 405 | 310 | |
| Secretarial expenses | 818 | - | 818 | 833 | |
| Sundry expenses | 738 | - | 738 | 2,963 | |
| Insurance and security | 14,079 | - | £4,079 | 20,651 | |
| Subscriptions& affiliation fees | 644 | - | 644 | 312 | |
| Accountancy fees (note 5) | 1,100 | - | 1,100 | 1,025 | |
| 100,108 | - | 100,108 | 94,025 |
Page 8
RYE MUSEUM ASSOCIATION NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5th APRIL 2025
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds 2025 | Funds 2024 | |||
| £ | £ | £ | £ | |||
| 5 | Fees for examination ofaccounts | |||||
| Independent examiner's fee | 1,100 | - | 1,100 | 1,025 | ||
| - | 6 | Fixed Assets | ||||
| Freehold | Display | Office | ||||
| Property | Equipment | Equipment | TOTAL | |||
| £ | £ | £ | £ | |||
| Cost b/fwd | 1,067,927 | 153,394 | 53,121 | 1,274,442 | ||
| Additions | - | 6,129 | 9,957 | 16,086 | ||
| Cost c/fwd | 1,067,927 | 159,523 | 63,078 | 1,290,528 | ||
| Accumulated depreciation b/fwd | 924,404 | 145,467 | 36,542 | 1,106,413 | ||
| Depreciation for period | 13,052 | 1,300 | 2,487 | 16,839 | ||
| Accumulated depreciation c/fwd | 937,456 | 146,767 | 39,029 | 1,123,252 | ||
| Balance at Sth April 2025 | 130,471 | 12,756 | 24,079 | 167,276 | ||
| Balance at 5th April 2024 | 143,523 | 7,927 | 16,579 | 168,029 | ||
| Freehold property comprises: | (before depreciation) | |||||
| 3 East Street, Rye - cost | 157,795 | |||||
| Womens' Tower - capitalised improvement expenditure | 311,955 | |||||
| Ypres Tower - cost | 501 | |||||
| YypresTower - capitalised improvement expenditure | 267,631 | |||||
| 3 East Street, Rye - capitalised improvement expenditure | 330,045 | |||||
| 1,067,927 |
.
Depreciation is provided on fixed assets at the following annual rates based on the estimated useful life and anticipated residual value.
Freehold improvements 10% -oncost Display equipment: - furniture, fixtures and fittings 10% -oncost - computer equipment 20% ~-oncost Office equipment 15% - reducing balance basis
No depreciation is provided on the original acquisition cost of the freehold land and buildings. In accordance with the recommendations of the Statement of Recommended Practice on Accounting by Charities, the Permanent Collection of Museum Exhibits has been excluded from the Balance Sheet. See note 11.
Page 9
RYE MUSEUM ASSOCIATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5th APRIL 2025
6 Fixed Assets (continued)
Depreciation
| Depreciation | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| Funds | Funds | Funds 2025 | Funds 2024 | |||||
| £ | £ | £ | £ | |||||
| Womens' Tower | - | - | - | 23,736 | ||||
| All other assets | 16,839 | - | 16,839 | 15,146 | ||||
| 16,839 | - | 16,839 | 38,882 | |||||
| During 1997, the freehold ofthe | YpresTowerwas purchased at | a cost of£1 plus legal | ||||||
| expensesof£500. The YpresTower freehold is | subject to | pre-emption rights granted | to | |||||
| Rother District Council and | RyeTown | Town Council grantingthem a | right ofpurchase in the | |||||
| event ofa sale. | ||||||||
| 7 | Stocks | 2025 | 2024 | |||||
| £ | £ | |||||||
| Opening stock for resale | 2,861 | 2,294 | ||||||
| Added in period | 2,526 | 5,143 | ||||||
| Expensed in period | (2,831) | (4,576) | ||||||
| Closing stock | 2,596 | 2,861 | ||||||
| 2025 | 2024 | |||||||
| 8 | Debtors | £ | £ | |||||
| Prepayments and deposits | - | 400 | ||||||
| 9 | Creditors | |||||||
| Accruals and payables | 1,100 | 1,525 | ||||||
| 10 | Restricted income funds | Opening | Incoming | Resources | Closing | |||
| Balance | Resources | Expended | Balance_ | |||||
| £ | £ | £ | £ | |||||
| General Fund | 3,531 | - | - | 3,531 | ||||
| Fabric Fund | 69 | - | - | 69 | ||||
| Garden Fund | . | 82 | - | - | 82 | |||
| Womens’ TowerFund | 18,953 | - | - | 18,953 | ||||
| 22,635 | - | - | 22,635 |
11 Permanent collection
The permanent collection of museum exhibits is held by the Rye Museum Trust.
12 Limited by guarantee
Rye Museum Association is a registered charity. It is a private company limited by guarantee, and does not have a share capital. The liability of each member is limited to £1.
Page 10
Independent Examiner’s Report on the Unaudited Financial Statements to the Directors and Trustees of the Rye Museum Association Charity No: 1057421 Company No: 3226143
1 report to the charity trustees on my examination of the accounts of the Company for the year ended 5" April 2025 set out on pages 5 to 10.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, | have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
-
® accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
e =the accounts do not accord with such records; or
-
e the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
-
e the accounts have not been prepared in accordance with the Charities SORP (FRS102).
1 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
----- Start of picture text -----
“hee bededen
----- End of picture text -----
B A Antrobus BSc (Open) FCA CTA
113 Shakespeare Tower Barbican London EC2Y 8DR
23 July 2025
Page 4
RYE MUSEUM ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE ENDED 5th[APRIL][2025]
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|Note|Funds|Funds|Funds|Funds|
|2025|2025|2025|2024|
|£|£|£|£|
|Income|3|
|Donations and|legacies|27,149|-|27,149|22,347|
|Charitable|activities|133,836|-|133,836|134,663|
|Other trading|activities|12,652|-|12,652|9,398|
|Investment|income|5,555|-|5,555|3,824|
|TOTAL INCOME|179,192|-|179,192|170,232|
|Expenditure|4|
|Raising|funds|6,692|-|6,692|6,361|
|Charitable|activities|100,108|-|100,108|94,025|
|Depreciation|6|16,839|-|16,839|38,882|
|TOTAL EXPENDITURE|123,639|-|123,639|139,268|
|NET|SURPLUS/|
|(DEFICIT) FOR THE YEAR|55,553|-|55,553|30,964|
|Funds|brought forward|466,568|22,635|489,203|458,239|
|Funds carried|forward|522,121|22,635|544,756|489,203|
----- End of picture text -----
There were no recognised gains and losses other than those shown above.
The notes on pages 7 to 10 form part of these accounts.
Page 5
RYE MUSEUM ASSOCIATION
BALANCE SHEET
At 5th APRIL 2025
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Note|2024|
|£|£|£|£|
|Fixed|Assets|
|Tangible|Assets|6|167,276|168,029|
|Current|Assets|
|Stock|7|2,556|2,861|
|Debtors|and|prepayments|8|-|400|
|Cash|at|bank|375,969|319,412|
|Cash|in|hand|55|26|
|378,580|322,699|
|Less:|Current|Liabilities|
|Creditors|and|accruals|9|1,100|377,480|1,525|321,174|
|NET ASSETS|544,756|489,203|
|Funds|of the|Charity|
|Restricted|income|funds:|10|22,635|22,635|
|Unrestricted|income|funds:|
|General|Purposes|Fund|522,121|466,568|
|TOTAL FUNDS|544,756|489,203|
----- End of picture text -----
The company was entitled to exemption from audit under s 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with s 476 ofthe Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to smail companies subject to the small companies regime and in accordance with FRS102 SORP. o[yo][—] - These accounts were approved by the Board on 3 .~ ily 2028...
Sheila Maddock
Trustee/Director
Page 6
RYE MUSEUM ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2025
1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared on a going concern basis in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entitity as defined by FRS 102,
-
1.2 The company is not registered for VAT. All items in the accounts include attributable VAT.
-
13 Change of accounting policy
-
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 2.
2 Accounting policies
2.1 INCOME Recognition of income These are included in the Statement of Financial Activities (SoFA) when the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SoFA when the general income criteria are met (5.10 to 5.12 FRS102 SORP),. Government grants The charity has received government grants in the reporting period. Support Costs The charity has incurred expenditure on support costs.
2.2. EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised where there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Creditors The charity has creditors which are measured at settlement amounts. 2.3 ASSETS Tangible fixed assets They are capitalised if they can be used for more than one year and cost at least £100. They are valued at cost. Stocks and work in Stock of publications for resale is valued at the lower of cost and net progress realisable value, after making allowance for obsolete and slow moving items. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount.
Page 7
3 Analysis of income
RYE MUSEUM ASSOCIATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED Sth APRIL 2025
| 3 | Analysis of incomeincome | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds 2025 | Funds 2024 | ||
| £ | £ | £ | £ | ||
| Donations and legacies | |||||
| Donations and GiftAid | 12,442 | - | 12,442 | 2,966 | |
| Grants - general | 13,284 | - | 13,284 | 17,100 | |
| Subscriptions | 1,423 | - | 1,423 | 2,281 | |
| 27,149 | - | 27,149 | 22,347 | ||
| Charitable activities | |||||
| Entry fees | 133,836 | - | 133,836 | 134,663 | |
| Other trading activities | |||||
| Fund raising activities | 3,318 | - | 3,318 | 1,621 | |
| Sales (trading) | 9,334 | - | 9,334 | 7,777 | |
| 12,652 | - | 12,652 | 9,398 | ||
| Income from investments | |||||
| Bank interest received | 5,555 | - | 5,555 | 3,824 | |
| 4 | Analysis ofexpenditure | ||||
| Expenditureon raising funds | |||||
| Staging fundraising events | 1,844 | - | 1,844 | 361 | |
| Advertising and promotion | 2,017 | - | 2,017 | 1,424 | |
| Cost ofsales (trading) | 2,831 | - | 2,831 | 4,576 | |
| 6,692 | - | 6,692 | 6,361 | ||
| Expenditure on charitable activities | |||||
| Professional fees | 2,806 | - | 2,806 | 2,678 | |
| Salaries | 50,892 | - | 50,892 | 48,215 | |
| Rent, rates and water | 1,437 | - | 1,437 | 990 | |
| Light and heat | 7,558 | - | 7,558 | 5,122 | |
| Maintenance & conservation | 16,985 | - | 16,985 | 8,924 | |
| Telephone&web | 2,646 | - | 2,646 | 2,402 | |
| Postage and stationery | 405 | - | 405 | 310 | |
| Secretarial expenses | 818 | - | 818 | 833 | |
| Sundry expenses | 738 | - | 738 | 2,963 | |
| Insurance and security | 14,079 | - | £4,079 | 20,651 | |
| Subscriptions& affiliation fees | 644 | - | 644 | 312 | |
| Accountancy fees (note 5) | 1,100 | - | 1,100 | 1,025 | |
| 100,108 | - | 100,108 | 94,025 |
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RYE MUSEUM ASSOCIATION NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5th APRIL 2025
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds 2025 | Funds 2024 | |||
| £ | £ | £ | £ | |||
| 5 | Fees for examination ofaccounts | |||||
| Independent examiner's fee | 1,100 | - | 1,100 | 1,025 | ||
| - | 6 | Fixed Assets | ||||
| Freehold | Display | Office | ||||
| Property | Equipment | Equipment | TOTAL | |||
| £ | £ | £ | £ | |||
| Cost b/fwd | 1,067,927 | 153,394 | 53,121 | 1,274,442 | ||
| Additions | - | 6,129 | 9,957 | 16,086 | ||
| Cost c/fwd | 1,067,927 | 159,523 | 63,078 | 1,290,528 | ||
| Accumulated depreciation b/fwd | 924,404 | 145,467 | 36,542 | 1,106,413 | ||
| Depreciation for period | 13,052 | 1,300 | 2,487 | 16,839 | ||
| Accumulated depreciation c/fwd | 937,456 | 146,767 | 39,029 | 1,123,252 | ||
| Balance at Sth April 2025 | 130,471 | 12,756 | 24,079 | 167,276 | ||
| Balance at 5th April 2024 | 143,523 | 7,927 | 16,579 | 168,029 | ||
| Freehold property comprises: | (before depreciation) | |||||
| 3 East Street, Rye - cost | 157,795 | |||||
| Womens' Tower - capitalised improvement expenditure | 311,955 | |||||
| Ypres Tower - cost | 501 | |||||
| YypresTower - capitalised improvement expenditure | 267,631 | |||||
| 3 East Street, Rye - capitalised improvement expenditure | 330,045 | |||||
| 1,067,927 |
.
Depreciation is provided on fixed assets at the following annual rates based on the estimated useful life and anticipated residual value.
Freehold improvements 10% -oncost Display equipment: - furniture, fixtures and fittings 10% -oncost - computer equipment 20% ~-oncost Office equipment 15% - reducing balance basis
No depreciation is provided on the original acquisition cost of the freehold land and buildings. In accordance with the recommendations of the Statement of Recommended Practice on Accounting by Charities, the Permanent Collection of Museum Exhibits has been excluded from the Balance Sheet. See note 11.
Page 9
RYE MUSEUM ASSOCIATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5th APRIL 2025
6 Fixed Assets (continued)
Depreciation
| Depreciation | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| Funds | Funds | Funds 2025 | Funds 2024 | |||||
| £ | £ | £ | £ | |||||
| Womens' Tower | - | - | - | 23,736 | ||||
| All other assets | 16,839 | - | 16,839 | 15,146 | ||||
| 16,839 | - | 16,839 | 38,882 | |||||
| During 1997, the freehold ofthe | YpresTowerwas purchased at | a cost of£1 plus legal | ||||||
| expensesof£500. The YpresTower freehold is | subject to | pre-emption rights granted | to | |||||
| Rother District Council and | RyeTown | Town Council grantingthem a | right ofpurchase in the | |||||
| event ofa sale. | ||||||||
| 7 | Stocks | 2025 | 2024 | |||||
| £ | £ | |||||||
| Opening stock for resale | 2,861 | 2,294 | ||||||
| Added in period | 2,526 | 5,143 | ||||||
| Expensed in period | (2,831) | (4,576) | ||||||
| Closing stock | 2,596 | 2,861 | ||||||
| 2025 | 2024 | |||||||
| 8 | Debtors | £ | £ | |||||
| Prepayments and deposits | - | 400 | ||||||
| 9 | Creditors | |||||||
| Accruals and payables | 1,100 | 1,525 | ||||||
| 10 | Restricted income funds | Opening | Incoming | Resources | Closing | |||
| Balance | Resources | Expended | Balance_ | |||||
| £ | £ | £ | £ | |||||
| General Fund | 3,531 | - | - | 3,531 | ||||
| Fabric Fund | 69 | - | - | 69 | ||||
| Garden Fund | . | 82 | - | - | 82 | |||
| Womens’ TowerFund | 18,953 | - | - | 18,953 | ||||
| 22,635 | - | - | 22,635 |
11 Permanent collection
The permanent collection of museum exhibits is held by the Rye Museum Trust.
12 Limited by guarantee
Rye Museum Association is a registered charity. It is a private company limited by guarantee, and does not have a share capital. The liability of each member is limited to £1.
Page 10