2023-03-31-accounts - The Dorset Natural History And Archaeological Society

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Reference and Administrative	Reference and Administrative
Report ofthe Trustees		2-12
Independent Auditors	Report	13-15
Statement ofFinancial	Activities	16
Balance Sheet		17
Statement ofCash Flows		18
Notes to the Financial	Statements	19-40

			Reference and Administrative	Details	Details	Details
Charity Name			The Dorset Natural		History and Archaeological
			Society
Other Names			Dorset Museum
Trustees			T Chevalier
			D French
			SJames (resigned December 2022)
			JLang
			SMerriott
			TParsons
			P Sharman (elected		December 2022)
			JSmyllie
			L Southall (elected	December 2022)
			SWelton
			M Wood
Registered	Office		Dorset Museum
			66 High West Street
			Dorchester
			DT1 1XA
Company	Registration	Number	3362107
Charity Registration		Number	1062400
President			Susan, Lady Bradbury
Vice-Presidents			R Peers MA FSA FMA
			G Pitt Rivers OBEDL
			P Seaton
			SirP Williams Bt.
			G Yarker BEMFSA
Auditors			Scott Vevers Ltd
			Chartered Accountants			and Registered	Auditors
			65 East Street
			Bridport
			DT6 3LB
Bankers			Lloyds Bank pic
			1-2High West Street
			Dorchester
			DT1 1UG
Solicitors			Humphries Kirk
			40 High West Street
			Dorchester
			DT1 1UR
Investment	Advisors		Charles Stanley &	Co Ltd
			Mey House
			Bridport Road
			Dorchester
			DT1 3QY

ociety / Museum	Risks				sk Management	sk Management	Status
rolonged closure	ofMuseum	due to external		factors	ngoing	monitoring,	action as required
urther delays and	impacts due		to Covid-19		Ongoing	monitoring,	action as required
ailure to achieve	visitor targets		/ decline in membership		Ongoing	monitoring,	action as required
nergy / Insurance	price rises				Ongoing	monitoring,	action as required
ajor building / infrastructure		failure			ngoing	monitoring,	action as required
ajor catastrophe					ngoing	monitoring,	action as required
oss ofkey staff					Ongoing	monitoring,	action as required
ailure to address	operational	readiness planning			ngoing	monitoring,	action as required
heft / vandalism	to buildings	/	collections		Ongoing	monitoring,	action as required

Statement ofFinancial	Statement ofFinancial	Activities (Including	Activities (Including	Income	and	Expenditure	Expenditure	Account)
		Year Ended	31March 2023					Total	Total
		Unrestricted	Restricted		Endowment			2023	2022
	Note
Income and Endowments	from:
Donations and legacies		743,381						743,381	1,030,067
Charitable activities		304,849						304,849	275,907
Other trading activities		164,784						164,784	127,669
Investments		8,720						8,720	9,147
Total income and endowments		1,221,734						1,221,734	1,442,790
Expenditure on:
Raising funds	7	38,249		32,163				70,412	25,956
Trading activities	8	219,205						219,205	104,838
Charitable activities	9	349,259	1,641,544					1,990,803	2,698,811
Total expenditure		606,713	1,673,707					2,280,420	2,829,605
Net gains/ (losses) on investments	17&	(37,632)						(37,632)	7,047
Net income/ (expenditure)		577,389	(1,673,707)				(1,096,318)		(1,379,768)
Transfers between funds	24	(1,207)		1,207
Corporation Tax		82,894						82,894	(4,338)
Other recognised gains/ (losses):
Remeasurement gain / (loss)
on defined benefit pension	29	649,000						649,000	209,000
plan
Net movement in funds		1,308,076	(1,672,500)					(364,424)	(1,175,106)
Reconciliation offunds:
Total funds brought forward		(688,489)	14,019,569			500	13,331,580		14,506,686
Total funds carried forward		619,587	12,347,069			500	12,967,156		13,331,580

		Balance Sheet as at 31March	2023
				Total	Total
(Registration number: 3362107)				2023	2022
			Note
Fixed assets
Tangible assets			14	13,221,886	14,779,740
Heritage assets			15	1,092,053	1,034,917
Investments			16	162,998	427,260
				14,476,937	16,241,917
Current assets
Stocks			20	11,000	11,000
Debtors			21	114,840	37,461
Cash at bank and in	hand			491,598	175,736
				617,438	224,197
Creditors: amounts	falling due within one year		22	(102,219)	(1,191,201)
Net current (liabilities)/		assets		515,219	(967,004)
Total assets less current		liabilities		14,992,156	15,274,913
Creditors: amounts	falling due after more than one year		23	(1,815,000)	(1,122,333)
Net assets excluding	pension liability			13,177,156	14,152,580
Defined benefit pension		liability	29	(210,000)	(821,000)
Net assets				12,967,156	13,331,580
Charity Funds
Endowment funds			24	500	500
Restricted funds			24	12,347,069	14,019,569
Unrestricted funds			24	829,587	132,511
Pension reserve			24	(210,000)	(821,000)
Total charity funds				12,967,156	13,331,580

			Statement ofCash Flows YearEnded31March2023
					Total	Total
					2023	2022
				Note
Cash flow from operating	activities			26	(433,692)	332,789
Tax recoverable / (paid)					82,894	(4,338)
Net cash flow from operating		activities			(350,798)	328,451
Cash flow from investing	activities
Payments to acquire tangible fixed assets					(91,502)	(556,273)
Receipts from sales oftangible		fixed assets			601,533
Payments to acquire investments					(13,501)	(22,845)
Receipts from sales of investments					240,212	22,435
Interest received					1,942	14
Dividends received					4,490	4,153
			'
Rents received from investment		properties			2,288	4,980
Net cash flow from investing		activities			745,462	(547,536)
Cash flow from financing	activities
Interest paid					(78,721)	(64,763)
Net cash flow from financing		activities			(78,721)	(64,763)
Net increase / (decrease)	in cash and cash equivalents				315,943	(283,848)
Cash and cash equivalents	at	1April 2022			176,585	460,433
Cash and cash equivalents	at	31March	2023		492,528	176,585
Cash and cash equivalents	consists of:
Cash at bank and in hand					491,598	175,736
Short term deposits					930	849
Cash and cash equivalents	at	31March	2023		492,528	176,585


Donations and legacies
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	2023	2022
Grants
Dorset County Council*				85,078			85,078	84,294
Arts Council England				67,718			67,718	380,318
Wessex Museum	Trust			106,771			106,771	33,855
Roberts Trust				30,000			30,000
College bursaries								14,197
Other				80,490			80,490	66,853
				370,057			370,057	579,517
Development appeal		fund
Heritage Lottery	Fund*							381,357
								381,357
Other
Donations (including		gift	aid)	51,467			51,467	59,698
Legacies				321,857			321,857	6,750
				373,324			373,324	66,448
Exceptional government			funding
Coronavirus Job Scheme (CJRS)	Retention grant"							2,745
								2,745
				743,381			743,381	1,030,067

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	2023	2022
Membership subscriptions			68,103			68,103	53,625
Museum	admission	fees	235,004			235,004	217,311
Events and exhibitions			1,742			1,742	2,471
Income	from lending	assets					2,500
			304,849			304,849	275,907

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	2023	2022
Shop and	online sales		64,074			64,074	68,705
Bookings	income		82,434			82,434	43,482
Cafe rental income			15,813			15,813	13,927
Royalties	and sundry	income	2,463			2,463	1,555
			164,784			164,784	127,669


			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	2023	2022
Dividends and	interest		4,490			4,490	4,153
Interest on cash deposits			1,942			1,942	14
Rental income			2,288			2,288	4,980
			8,720			8,720	9,147
Expenditure	on raising	funds
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	2023	2022
Fundraising fees			36,611			36,611	13,573
Heritage Lottery Fund Delivery Plan				32,163		32,163	10,684
Investment management		fees	1,638			1,638	1,699
			38,249	32,163		70,412	25,956
Expenditure	on trading	activities
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	2023	2022
Shop consumables			30,667			30,667	29,089
Employment costs			164,869			164,869	61,296
Event consumables			12,869			12,869
Establishment	costs		10,800			10,800	14,453
			219,205			219,205	104,838

	Notes to the	Notes to the	Notes to the	Financial Statements	Financial Statements	for the Year	Ended 31Mar	ch 2023
9	Expenditure on charitable			activities
					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	2023	2022
	Staff costs (including	travel)			352,604	112,356		464,960	663,996
	Direct costs				273,653	1,519,428		1,793,081	1,841,124
	Support costs				(285,923)	9,760		(276,163)	186,266
	Governance costs				8,925			8,925	7,425
					349,259	1,641,544		1,990,803	2,698,811
					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	2023	2022
	Direct costs:
	Exhibitions, events and collections				20,543	62,053		82,596	76,656
	General repairs				32,976			32,976	34,966
	Depreciation				15,668	1,457,195		1,472,863	1,471,296
	Establishment costs				147,205			147,205	158,802
	Marketing and promotion				53,717	180		53,897	90,085
	Credit card charges				3,565			3,565	5,372
	Bad debts recoverable				(240)			(240)	263
	General expenses				219			219	3,684
					273,653	1,519,428		1,793,081	1,841,124
	Office and administration		costs		63,498			63,498	63,420
	(Profit) / loss on disposal tangible fixed assets		of		(482,176)			(482,176)	11,902
	Loan interest				78,721			78,721	64,763
	Other finance charges				3,417			3,417	1,253
	Printing, postage and	stationery			18,068			18,068	18,301
	Professional fees				32,549	9,760		42,309	26,627
					(28.5,923)	9,760		(276,163)	186,266
	Governance costs:
	Auditor's remuneration				8,925			8,925	7,425
					8,925			8,925	7,425

Net incom	e / (expenditure) is stated	after charging / (crediting):
			2023	2022
Depreciation oftangible fixed assets			1,472,863	1,471,296
(Profit) /	loss on disposal ofinvestments		26,963	3
(Profit) /	loss on disposal oftangible	fixed assets	(482,176)	11,902
Operating	lease rentals		24,695	34,563
(Profit) /	loss on fair value movement	ofinvestments	10,669	(7,050)
Auditor's	remuneration:
Audit services			5,975	4,975
Other services			2,950	2,450

follows:
		2023	2022	2023	2022
		FTE	FTE	Number	Number
Raising funds		0.4	0.4	1.0	1.0
Charitable activities		14.2	15.0	22.0	22.0
Governance		0.6	0.6	1.0	1.0
		15.2	16.0	24.0	24.0
The total staff costs	and employee	benefits were as follows:
				2023	2022
Wages and salaries				521,022	578,230
Social security				31,687	37,006
Defined contribution	pension costs			19,586	19,939
Defined benefit pension costs				57,534	74,115
				629,829	709,290

Heritage assets
	Collections	Total
Cost or valuation:
At 1 April 2022	1,034,917	1,034,917
Additions	57,136	57,136
At 31March 2023	1,092,053	1,092,053
Depreciation:
At 1 April 2022
At 31March 2023
Net book value:
At 31March 2023	1,092,053	1,092,053
At 31March 2022	1,034,917	1,034,917

Five year summary ofadditions a	nd disposals:
	2023	2022	2021	2020	2019
Purchased additions
Assets held at cost	57,136	2,278	136,270	27,405	46,670
Total additions	57,136	2,278	136,270	27,405	46,670
Impairment
Assets held at cost
Total impairment
Net Book Value Disposals
Assets held at cost					141,178
Total NBV disposals					141,178

				2023	2022
Investment	properties (note 17)				250,000
Quoted investments (note			18)	162,067	176,410
Unquoted	investments	(note 19)		1	1
Cash held	by investment		manager	930	849
				162,998	427,260
Investment	property
				2023	2022
Fair value	at 1 April 2022			250,000	250,000
Disposal proceeds				(225,000)
Realised loss on disposal				(25,000)
Fair value	at 31March	2023			250,000
Cost at 31	March 2023				250,000

Quoted in	vestments
				2023	2022
Fair value	at 1 April 2022			176,410	168,953
Additions				13,501	22,845
Disposals				(15,212)	(22,435)
Realised gains/(losses)		on	disposal	(1,963)	(3)
Unrealised	gains/(losses)		on revaluation	(10,669)	7,050
Fair value	at 31March	2023		162,067	176,410
Cost at 31	March 2023			149,633	151,808

2023	2022
1	1

20	Stocks
				2023	2022
	Goods for resale			11,000	11,000
21	Debtors
				2023	2022
	Trade debtors			27,567	24,653
	Prepayments	and accrued income		1,709	2,840
	Other debtors			85,564	9,968
				114,840	37,461
22	Creditors: amounts		falling due within one year
				2023	2022
	Loans				992,667
	Trade creditors			21,188	22,690
	Accruals and	deferred income		67,112	161,425
	Taxation and	social security		9,055	4,338
	Other creditors			4,864	10,081
				102,219	1,191,201
23	Creditors: amounts		falling due after more than one year
				2023	2022
	Loans			1,815,000	1,122,333

Unrestricted	funds
		Balance at				Gains /	Balance at
		01.04.2022	Income	Expenditure	Transfers	losses	31.03.2023
Unrestricted
General fund		(917,792)	1,191,734	(474,442)	(1,207)	(37,632)	(239,339)
Designated	funds
Collections		1,034,916					1,034,916
Life membership		9,446					9,446
Dugdale		941					941
Trust
Lift		5,000					5,000
Roberts Trust			30,000	(11,377)			18,623
		132,511	1,221,734	(485,819)	(1,207)	(37,632)	829,587
Pension reserve		(821,000)		(38,000)		649,000	(210,000)
		(688,489)	1,221,734	(523,819)	(1,207)	611,368	619,587
		Balance at				Gains /	Balance at
		01.04.2021	Income	Expenditure	Transfers	losses	31.03.2022
Unrestricted
General fund		(872,951)	837,849	(887,460)	(2,277)	7,047	(917,792)
Designated	fitnds
Collections		1,032,639			2,277		1,034,916
membership		9,446					9,446
Dugdale							941
Trust
Lift		5,000					5,000
		175,075	837,849	(887,460)		7,047	132,511
Pension reserve		(979,000)		(51,000)		209,000	(821,000)
		(803,925)	837,849	(938,460)		216,047	(688,489)

Restricted	funds	funds
	Balance at					Gains /	Balance at
	01.04.2022		Income	Expenditure	Transfers	losses	31.03.2023
					K
Tomorrow's	Museum	for Dorset:
Lottery Fund		9,938,589		(1,612,441)			8,326,148
Other funding		3,943,911					3,943,911
Dewlish
Mosaic Public		50,025		(50,025)
Appeal
Dorset
Archaeologic		48,856					48,856
al Committee
Jurassic Coast Gallery		9,974		(9,974)
Monograph Fund		8,042					8,042
Museum
Makers		(1,207)			1,207
Gentleman' Magazine	s	3,001					3,001
WDDC Social
Inclusion		885		(885)
Funds under f1,000		835					835
Barnes-
Dugdale		382		(382)
portrait
Treasure Acquisitions		3,256					3,256
Museums Partnership		8,020					8,020
The Ann
James Fine Art		5,000					5,000
Acquisition
	14,019,569			(1,673,707)	1,207		12,347,069
Endowment	funds
Charles Hansford		500					500
	14,020,069			(1,673,707)	1,207		12,347,569
Total funds	13,331,580		1,221,734	(2,197,526)		611,368	12,967,156

		Balance at				Gains /	Balance at
		01.04.2021	Income	Expenditure	Transfers	losses	31.03.2022
Tomorrow's	Museum for Dorset:
Lottery Fund		11,279,178	554,816	(1,895,405)			9,938,589
Other funding		3,943,911					3,943,911
Dewlish
Mosaic			50,025				50,025
Public
Dorset
Archaeologic		48,856					48,856
al Committee
Jurassic Coast		9,974					9,974
Monograph Fund		8,042					8,042
Museum Makers		(1,207)					(1,207)
Gentleman' s Magazine		3,001					3,001
WDDC Social		885					885
Funds under 51,000		813	100	(78)			835
Barnes-
Dugdale		382					382
portrait
Treasure Acquisitions		8,256			(5,000)		3,256
Museums Partnership		8,020					8,020
The Ann
James Fine Art					5,000		5,000
Acquisition
		15,310,111	604,941	(1,895,483)			14,019,569
Endowment	funds
Charles
Hansford		500					500
fund
		15,310,611	604,941	(1,895,483)			14,020,069
Totalfunds		14,506,686	1,442,790	(2,833,943)		216,047	13,331,580

		Notes to the Fi	Notes to the Fi	nancial Statem	ent	s	for the Year	Ended 31Ma	rch 2023
25	Analysis	ofnet assets between		funds
						Unrestricted		Restricted	Endowment	Total
							2023	2023	2023	2023
	Fixed assets						1,589,520	12,887,417		14,476,937
	Cash and	current investments					491,098		500	491,598
	Other current assets / liabilities						563,969	(540,348)		23,621
	Creditors	more than one year					(1,815,000)			(1,815,000)
	Provisions	/ pensions					(210,000)			(210,000)
							619,587	12,347,069	500	12,967,156
						Unrestricted		Restricted	Endowment	Total
							2022	2022	2022	2022
	Fixed assets						1,924,815	14,317,102		16,241,917
	Cash and	current investments					175,236		500	175,736
	Other current assets / liabilities						(845,207)	(297,533)		(1,142,740)
	Creditors	more than one year					(1,122,333)			(1,122,333)
	Provisions	/ pensions					(821,000)			(821,000)
							(688,489)	14,019,569	500	13,331,580
26	Reconciliation ofnet income		/	(expenditure)	to	net	cash flow from operating		activities
									2023	2022
	Net income / (expenditure) for the year								(1,096,318)	(1,379,768)
	Dividends	received							(4,490)	(4,153)
	Rents received from investment			properties					(2,288)	(4,980)
	Interest receivable								(1,942)	(14)
	Interest payable								78,721	64,763
	Depreciation and impairment		of	tangible fixed	assets				1,472,863	1,471,296
	(Gains) /	losses on investments							10,669	(7,050)
	(Profit) /	loss on disposal oftangible fixed assets							(482,176)	11,902
	(Profit) /	loss on disposal offixed asset investments							26,963	3
	Post-employment benefits less payments								38,000	51,000
	(Increase)	/ decrease in stock								(11,000)
	(Increase)	/ decrease in debtors							(77,379)	1,117,423
	Increase /	(decrease) in creditors							(396,315)	(976,633)
									(433,692)	332,789

The total cost r	ecognised	in the period was as follows:
			2023	2022
			X'000	X'000
Current service	cost		36	54
Net interest income / expense			21	19
Administration	expenses		1	1
Recognised in	net income	/ expenditure	58	74
Recognised in	other gains	/ losses
Total cost recognised			58	74

Amounts reco	gnised in t	he balance sheet were as follows:
			2023	2022
			K'000	X'000
Present value	offunded	obligations	1,372	2,054
Fair value of	plan assets		(1,162)	(1,233)
			210	821
The pension	expenditure	for the year was K38,000 (2022: X51,000). The remeasurement	gain on	the defined
benefit pension plan was		f649,000(2022:F209,000).

Changes in the present v	alue ofthe	defi	ne	d benefit obliga	tions were as follows	:
						2023	2022
						K'000	X'000
Opening defined benefit	obligation					2,054	2,109
Current service cost						36	54
Past service cost
Interest expense						53	42
Actuarial (gains) / losses
Change in financial assumptions						(896)	(123)
Change in demographic	assumptions					(49)
Experience gain/ loss on	defined benefit			obligation		209	5
Contributions by scheme	participants					4	6
(Estimated) benefits paid (net oftransfers				in)		(39)	(39)
Closing defined benefit obligation						1,372	2,054
Changes in the fair value	ofthe pension		plan assets were		as follows:
						2023	2022
						K'000	K'000
Opening plan assets						1,233	1,130
Interest income						32	23
								.
Actual return on plan assets (excluding			interest income)			(89)	91
Other actuarial gains / (losses)						2
Administration expenses						(1)	(1)
Contributions by charity	(included	unfunded)				20	23
Contributions by scheme	participants					4	6
(Estimated) benefits paid (plus unfunded				net oftransfers	in)	(39)	(39)
Closing plan assets						1,162	1,233

was as follow	s	:
									2023	2022
									K'000	X'000
Equity instruments									724	656
Debt instruments			(bonds)
Gilts									6	153
Other bonds									76	62
Property									94	115
Other assets
Cash									19	25
Diversified	Growth Fund								78	81
Infrastructure									88	84
Multi Asset	Credit								77	57
									1,162	1,233
The principal		actuarial		assumptions		used were	as follows:
									2023	2022
Discount rate									4.80	2.60
Expected rates of			salary	increases					3.85	4.20
Expected rates of			pension		increases				2.85	3.20
Expected rate		ofinflation			—RPI				n/a	n/a
Expected rate		ofinflation			-CPI				2.85	3.20
The mortality		assumptions			used for	longevity	(in years) on retirement	at age 65 are:
									2023	2022
									years	years
Retiring at the balance				sheet date
- Males									22.2	23.1
- Females									24.2	24.7
Retiring in 20 years
- Males									23.5	24.4
- Females									25.6	26.1

Total future minimum lease payments under non-cancellable operat	ing leases
	2023	2022
Not later than one year	41,834	42,722
Later than one year but not later than five years	3,757	26,479
	45,591	69,201

expenditur	e are as follo	ws:
					2023	2022
Financial	assets
Measured	at fair value	through	net income	/ expenditure:
—Fixed	asset investments				162,998	427,260
Measured	at amortised	cost
—Debt instruments					604,729	210,357
					767,727	637,617
Financial	liabilities
-Measured	at amortised	cost			1,917,219	2,313,534

Measured at amortised	co	st				1,917,219		2,313,534
The income, expenses,	net	gains and net losses	attributable	the charity's	financial	instruments	are	summarised
as follows:
Income and expense
Financial assets measured		at fair value through	net income	/ expenditure		4,490		4,153
Net gains and losses
Financial assets measured		at fair value through	net income	/ expenditure		(12,632)		7,047