## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||**Unrestricted**|**Restricted**||| |---|---|---|---|---|---| |||**Funds**|**Funds**|**Total Funds**|**_Total Funds_**| |||**2023**|**2023**|**2023**|**_2022_**| ||**Note**||||| ||**ref.**|£|£|£|£| |**Income from**|||||| |Donations|2|567,785||567,785|1,057,299| |Charitable activities||6,654||6,654|9,515| |Income from investments|3|29,024||29,024|35,350| |Other||3,839||3,839|125| |**Total**||**607,302**||**607,302**|**_1,102,289_**| |**Expenditure on**|||||| |Raising Funds (including cost of goods sold)|4|20,920||20,920|64,317| |Charitable activities|5-8 &13|905,939||905,939|_932,299_| |Other||12,075||12,075|_12,194_| |**Total**||**938,935**||**938,935**|**_1,008,811_**| |Net gains on investments||(52,749)||(52,749)|93,539| |**Net income/(expenditure)**||**(384,381)**||**(384,381)**|**_187,018_**| |**Transfer between funds**|||||| |**Net movement in funds**||**(384,381)**||**(384,381)**|**_187,018_**| |**Reconciliation of funds**|||||| |Total funds brought forward at 1 February|15,16|1,729,064||1,729,064|_1,542,046_| |**Total funds carried forward at 31 January**||**1,344,683**||**1,344,683**|**_1,729,064_**| ## ||||**Heritage**||| |---|---|---|---|---|---| |||**Operating**|**and**||| |||**and Other**|**Exhibition**||| |||**Assets**|**Assets**|**Total**|**_Total_**| |||**2023**|**2023**|**2023**|**_2022_**| |||£|£|£|£| ||**Note**||||| ||**ref.**||||| |**Fixed assets**|||||| |Tangible fixed assets|9|13,194|552,186|565,380|673,136| |Investments|10|731,705||731,705|1,148,429| |Total fixed assets||744,899|552,186|1,297,085|_1,821,565_| |**Current assets**|||||| |Debtors|11|17,180||17,180|18,522| |Cash at bank and in hand||136,755||136,755|122,464| |Total current assets||153,935||153,935|_140,986_| |**Liabilities**|||||| |Creditors:Amounts falling due within one year|12|(106,338)||(106,338)|_(91,313)_| |Total net current assets||47,597||47,597|_49,673_| |Defined benefit pension scheme liability|14||||(142,175)| |**Total net assets**||792,497|552,186|1,344,683|_1,729,064_| |**The funds of the charity**|||||| |General Reserves||792,497||792,497|_1,077,900_| |Heritage and Exhibition Reserves|||552,186|552,186|_651,164_| |**Total charity funds**|15,16|792,497|552,186|1,344,683|_1,729,064_| ## ## ||Total funds|_Total funds_| |---|---|---| ||2023|_2022_| ||£|£| |**Cash flows from operating activities:**||| |**Net cash (not provided) by operating activities**|**(378,353)**|**_(18,377)_**| |**Cash flows from investing activities**||| |Disposal oftangible fixed assets||| |Purchase of tangible fixed assets|(355)|_(2,351)_| |**Net cash used in investing activities**|**(355)**|**_(2,351)_**| |**Cash flows from financing activities:**||| |Dividends and interest from investments|29,024|_35,350_| |Proceedsfrom sale of investments|588,092|_420,472_| |Purchase of investments|(224,117)|_(420,587)_| |**Net cash from/ (used) in financing activities**|**392,999**|**_35,235_**| |**Change in cash and cash equivalents in the reporting period**|**14,291**|**_14,507_**| |**Cash and cash equivalents at the beginning of the reporting period**|**122,464**|**_107,957_**| |**Cash and cash equivalents at the end of the reporting period**|**136,755**|**_122,464_**| |**Net income/(expenditure) for the reporting period**|**(384,381)**|**_187,018_**| |**(as per statement of financial activities)**||| |**Adjustments for:**||| |Depreciation charges|108,111|_108,634_| |Gains on investments|52,749|_(93,539)_| |Dividends and interestfrom investments|(29,024)|_(35,350)_| |Decrease in debtors|1,342|_23,829_| |(Decrease) in creditors|(127,150)|_(208,969)_| |**Net cash (not provided) by operating activities**|**(378,353)**|_(18,377)_| ||Voluntary income and donations are credited to incoming resources when the amounts have been confirmed and there is| |---|---| ||certainty of receipt. Grants are credited to incoming resources on the earlier date ofwhen they are receivable under the| ||terms ofthe grant or when they are received.
Earned income is accounted forwhen it is receivable.| |c)|**Resources expended**| ||Resources expended are included in the statement offinancial activities on an accruals basis, inclusive of any| ||irrecoverable VAT. Costs not directly allocated to categories of activity are apportioned as support costs in accordance| ||with time spent by staff on each activity. Governance costs represent the statutory costs of administering the charity.| |d)|**Heritage and Exhibition Assets**| ||Heritage and exhibition assets held by the charity are capitalised
unless reliable information about cost is unavailable or| ||where there would be significant costs involved in obtaining a valuation. Items purchased during the year are shown in| ||Note 9 on page 20 and the Museum maintains a register of all purchases. It isthe view ofthe Council, however, that the| ||cost of obtaining a valuation of items already held or donated during any year is likely to be significant and would outweigh| ||the benefits of undertaking such an exercise and these items are therefore capitalised at cost.| |e)|**Tangible Fixed Assets**| ||Depreciation is provided at rates calculated to write offthe value of each asset on a straight line basis over its expected| ||useful life, as follows:| ||Exhibition space
over 9 years| ||Computer equipment
over 5 years| ||Office equipment, furniture and fittings
over 5 years| |**f)**|**Financial instruments**| ||Library and Museum Charitable Trust has financial assets and financial liabilities of a kind that qualify as basic financial| ||instruments.| ||(i) Listed investments, including fixed interest securities and cash held for investment, are measured at fair value through| ||income and expenditure accounts and are reported at their market values at the balance sheet date.| ||(ii) Other financial
instruments, which comprise bank and cash,
debtors other creditors and accruals are
initially| ||recognised at transaction value and are subsequently measured at amortised cost using the effective interest method.| ||Assets, other than those measured at their fair value, are assessed for indicators of impairment at each balance sheet| ||date.| ## ||||||| |---|---|---|---|---|---| |**`2`**|**DONATIONS AND LEGACIES**|||**`2023`**|**_`2022`_**| |||||£|£| ||Donations:||||| ||United Grand Lodge of England|||557,955|_1,000,000_| ||Other donations and income including The Friends ofthe Museum|||9,830|_6,251_| ||Government Grants -furloughed staff costs||||_51,048_| |||||567,785|_1,057,299_| |**`3`**|**INCOME FROM INVESTMENTS**|||**`2023`**|**_`2022`_**| |||||£|£| ||Dividends|||29,024|_35,350_| |||||29,024|_35,350_| |||**Direct**|**Apportioned**|**`2023`**|**_`2022`_**| |||**costs**|**support costs**|**Total**|**_Total_**| |||£|£|£|£| |**4**|**RAISING FUNDS**||||| ||Investment management costs|6,862||6,862|_8,189_| ||Fundraising||14,058|14,058|_56,128_| ||**Total**|6,862|14,058|20,920|_64,317_| |**5**|**CHARITABLE ACTIVITIES**||||| ||Exhibitions and tours|16,574|463,870|480,444|_528,112_| ||Cataloguing and conservation|11,743|120,935|132,678|_100,785_| ||Library and museum acquisitions|8,611|29,472|38,083|_23,891_| ||Provision of research resources||201,265|201,265|_120,265_| ||Awareness raising|3,900|46,496|50,396|_155,165_| ||Governance costs|3,073||3,073|_4,081_| ||**Total**|43,901|862,038|905,939|_932,299_| ## |||**Library and**|**Library and**|| |---|---|---|---|---| |||**Museum**|**Museum**|| |||**heritage and**|**computers,**|| ||**Exhibition**|**exhibition**|**furniture** &|| ||**space costs**|**assets**|**fittings**|**Total**| ||£|£|£|£| |**Cost**||||| |At 1 February2022|894,000|253,831|377,981|1,525,812| |Disposal|||(7,313)|{7,313)| |Additions in year||355||355| |At 31 January2023|894,000|254,186|370,668|1,518,854| |**Depreciation**||||| |At 1 February2022|496,667||356,009|852,676| |Disposal|||(7,313)|(7,313)| |Chargeforyear|99,333||8,778|108,111| |At 31 January2023|596,000||357,474|953,474| |**Net book value**||||| |At 31 January2023|**298,000**|**254,186**|**13,194**|**565,380**| |_At 31 January 2022_|_397,333_|_253,831_|_21,972_|_673,136_| |**Summary of transactions in Museum heritage and **||**exhibition assets**||| |**Year ended**|**31.1.23**|**31.1.22**|**31.1.21**|**31.1.20**| ||£|£|£|£| |Acquisitions in the year|355|2,351|438|768| ## |||**Market**||**_Market_**| |---|---|---|---|---| ||**Cost**|**value**|**_Cost_**|**_value_**| ||**`2023`**|**`2023`**|**_`2022`_**|**_`2022`_**| ||£|£|£|£| |UK listed investments|457,222|451,521|_628,687_|_716,823_| |Non-UK listed investments|175,081|260,144|_220,007_|_362,802_| |Cash|20,040|20,040|_68,804_|_68,804_| |Total Investments|652,343|731,705|_917,498_|_1,148,429_| |||**`2023`**||**_`2022`_**| |||£||£| |Market value as at 1 February||1,148,429||_1,054,775_| |Net monies (disinvested)/ invested||(363,975)||_115_| |Net (losses)/gains on investments||(52,749)||_93,539_| |Market value as at 31 January||731,705||_1,148,429_| |**`11`**|**DEBTORS**|**`2023`**|**_`2022`_**| |---|---|---|---| |||£|£| ||Prepayments|5,946|_8,495_| ||Donations||_469_| ||Sundry debtors|11,234|9,558| |||17,180|_18,522_| |**`12`**|**CREDITORS**|**`2023`**|**_`2022`_**| |||£|£| ||Trade creditors|15,014|| ||Sundry creditors|79,808|_80,151_| ||Accruals|4,100|_4,813_| ||HM Revenue & Customs-PAYE|3,404|_2,732_| ||HM Revenue & Customs-NI|4,011|_3,617_| |||106,338|_91,313_| ||**2023**|**2022**| |---|---|---| ||£|£| |Opening balance|142,175|_297,275_| |Remeasurement||| |Payments in the year|(142,175)|_(155,100)_| |Balance at 31 January||**_142,175_**| ## ## ## ## ## ## ## ## ## ## ##