2024-03-31-accounts

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Company Registration No. 3362107 (England and Wales)

Charity Registration No. 1062400

The Dorset Natural History and Archaeological Society

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

The Dorset Natural History and Archaeological Society

Reference and Administrative Details	1
Report ofthe Trustees	2-10
Independent Auditors Report	11-14
Statement ofFinancial Activities	15
Balance Sheet	16
Statement ofCash Flows	17
.
NotestotheFinancialStatements	18-39

The Dorset Natural History and Archaeological Society

Reference and Administrative Details

Charity Name

Charity NameName	Charity NameName	The Dorset Natural History and Archaeological
		Society
Other	Names	Dorset Museum
Trustees		Tracy Chevalier
		Claire Dixon
		David French
		Jean Lang (Chair)
		Sian Merriott
		Tracey Parsons
		Peter Sharman
		Laura Southall
		Jim Smylie
		David Tucker
		Sarah Welton
		MoragWood
		Dorset Council Representative
		Cllr S Bartlett
Registered Office		Dorset Museum
		66 High West Street
		Dorchester, DT1 1XA
Company Registration Number		3362107
Charity	Registration Number	1062400
President		Susan, LadyBradbury
Vice-Presidents		G PittRivers OBEDL
		P Seaton
		Sir P Williams Bt.
		G Yarker BEM FSA
Executive Director		C Dixon
Auditors		Scott Vevers Ltd
		Chartered Accountants and Registered Auditors
		65 East Street
		Bridport, DT6 3LB
Bankers		Lloyds Bank plc
		1-2 High 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,DT13QY

The Dorset Natural History and Archaeological Society Annual Report and Accounts Year Ended 31 March 2024

Introduction

The Trustees, who are also Directors for the purposes of the Companies Act, present their report and the financial statements of the Charity for the year ended 31 March 2024, which are also prepared to meet the requirements for a Directors’ Report and Accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charites Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102).

Reference and Administrative Details

Administrative information is given in a separate section at the front of these accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Dorset Natural History and Archaeological Society (“the Society”, DNHAS”’) is an educational charity which is an incorporated charitable trust and a company limited by guarantee (Charity number: 1062400 Company number: 3362107). The Society and its Museum, Dorset Museum, is owned by its members. The members elect a Board ofTrustees who are responsible for the overall strategy and governance of the Society and its Museum. The charity is variously referred to throughout this report as either “the Charity”, “the Society” or “the Company”.

The governance of the Society and its Museum is set out in Articles of Association approved by Companies House and the Charity Commissioners and registered on 7 December 2012. In addition, there is a set of ‘Regulations’ which were adopted by the Board of Trustees of the Society at a meeting held in July 2014 and further updated in February 2020 and January 2021. They are a revised version of the ‘Rules of the DNHAS’ adopted in March 1998. They reflect the Board’s current understanding of the governing Articles of Association and provide supplementary details relevant to their practical application in the operation of the Society.

Directors and Trustees

The Directors of the Company are the Charity’s Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees serving during the year and since the year-end are as follows: Tracy Chevalier (elected December 2023, second term) Claire Dixon (by virtue of her position as Director from 17" July 2023) David French (elected December 2023, second term) Jean Lang (Chair) (elected December 2023, second term)) Sian Merriott (elected December 2021, second term) Tracey Parsons (elected December 2023, second term) Peter Sharman (elected December 2022) Jim Smylie (elected December 2021) Laura Southall (elected December 2022) David Tucker (elected December 2023) Sarah Welton (elected March 2021, second term — stood down December 2023) Morag Wood (elected December 2021)

Dorset Council Representative

Cllr S Bartlett

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

None of the Trustees has any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to contribute £1 in the event of a winding up.

Ten of the Trustees are elected by members of the Society at the Society’s Annual General Meeting following a call for nomination to members and external advertisement. These ten Trustees serve a threeyear term with the option of offering themselves for a second three-year term. (Trustees who have served for six years are not eligible to stand for re-election without a period of at least one year out of office). The remaining two Trustees are the Executive Director and a Trustee appointed by the Dorset Council. New Trustees are introduced to the governance, objectives and activities of the Society by the Executive Director and Board Chair and provided with Charity Commission advisory documents.

The Board of Trustees has ultimate responsibility for the Society. The Board sets overall strategy and makes decisions on all major policy and constitutional issues. It is responsible for the final approval of the annual budget and accounts, monitoring the solvency of the Society and safety of its assets. All Trustees sign a declaration of their eligibility to stand and record relevant details in a Conflict of Interest Register which is updated annually. The Board meets quarterly but keeps the frequency and effectiveness of its meetings under review. The Regular subcommittee of the Board is:

¢ The Finance Committee ofthe Board, which monitors and helps set both revenue and capital budgets for the Society. It also oversees and scrutinises matters relating to the Society’s investments, reserves including monitoring movement in pension liabilities, financial policies and oversight of health and safety and compliance.

The Board sets up sub groups as necessary and during the year the Health and Safety group has met regularly.

The Society is managed and developed by the Executive Director and the staff in accordance with the strategy, and within the budget, set by the Board. The Executive Director and staff are supported in delivering these activities by a large number of volunteers.

The Board and staff use the Museum Accreditation rules of the Arts Council of England (ACE) and the policies of the Museums’ Association and Association of Independent Museums as guidelines in operating and developing the Museum & Art Gallery, which has full Accreditation status with ACE.

The Museum & Art Gallery is a member of the Wessex Museums Trust, which has been recognised as an ACE National Portfolio Organisation for the period 2022-2027. The Society is represented on the Wessex Museums Trust’s board by the Executive Director.

OBJECTIVES AND ACTIVITES

The objectives of the Society are:

¢ The advancement of education for the general benefit of the public in the areas of archaeology, the natural sciences, natural history, literature, music, the fine and decorative arts, antiquities and local history relating more especially to the County of Dorset;
¢ The acquisition, preservation, conservation, exhibition and development (as far as possible) of collections relating to archaeology, the natural sciences, natural history, literature, music, the fine and decorative arts, antiquities and local history relating more especially to the County of Dorset.

Success is assessed in terms of numbers of visitors to Dorset Museum & Art Gallery and of the users of the collections, and the qualitative feedback they give. The numbers of educational and other groups, the individuals involved and the feedback they provide, gives further quantitative and qualitative data, as does

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

evaluation of the number attending events and using publications. Where achievable, economic and other impacts on the community are assessed through targeted studies. The income generated compared with the expenditure needed to undertake them provides critical measures of financial short-term viability and longterm sustainability.

ACHIEVEMENTS AND PERFORMANCE

Overview

Claire Dixon, Executive Director and Jean Lang, Chair of the Board of Trustees

Dorset Museum & Art Gallery began this financial year with an acknowledged financial challenge and need for significant visitor growth, to secure sufficient income to cover increased running costs caused by the large capital works project and economic climate. £250K of resilience funding was secured from the National Lottery Heritage Fund (NLHF) for specific work including new digital marketing strategies, a national PR plan and a high-quality exhibition programme alongside some other smaller workstreams. Through this work we have seen an increase in footfall and diversity of audience, with visitors coming from across the UK and beyond. This was aided by the success of the Elisabeth Frink Exhibition where 60% of visitors came from outside Dorset. Whilst we still require further growth to achieve a position of sustainability, we have been able to demonstrate that focus on marketing/PR and high quality exhibitions has the potential to ensure our long-term success.

Externally, we continue to face the challenges caused by the war in Ukraine, the impact of Brexit on tourism and the cost-of-living crisis. In addition, the uncertainty caused by an impending national election makes it difficult to rely on or anticipate any long-term support from government funding. We also recognize that our efforts to target the Dorset tourist market during the summer period remains untested and our potential to draw in these audiences, which is critical to our long-term success, will not be fully evaluated and understood until September 2024.

This year, learning participation has continued to grow, reaching pre-pandemic levels and our work with local community groups continues to increase participation amongst those traditionally underserved by heritage. Attendance at events has been mixed but large, free to enter events continue to be hugely popular, enabling those to visit who would otherwise be prevented by the financial barrier of an admission fee. Weddings have reduced considerably, partly due to the bottle neck caused by the pandemic having passed and partly due to essential price increases and public awareness of our economic uncertainty. The reduction in wedding bookings is also being experienced by other heritage venues, with many ceasing to offer this service. Other private room hire has remained constant, including private meetings, conferences and parties. We continue to receive excellent feedback about the Museum & Art Gallery, our exhibitions and the friendliness of our staff and volunteers. We won a 'Visit England Gold accolade! which is external recognition of the quality of our offer.

The financial crisis we reported on last year has improved. Dorset Council confirmed a break in debt repayments until 2027 with an acceptable interest rate and we secured a Dorset Cultural Revenue Grant commitment of £150K over three years. We also secured Museum and Galleries tax relief to offset related expenditure from the core budget. Most significantly, 14% visitor footfall growth has been achieved when compared to the previous financial year and, due to the revised pricing structure that had a positive impact on gift aid, this led to a 50% uplift in admissions income and through secondary spend, we achieved the same increase in retail income. However overall, our annual income was reduced due to receiving a £200K bequest in the prior year, as well as seeing core grant funding from Dorset Council reduce.

What this year has demonstrated is that, with appropriate levels of investment in our public programme and marketing, we can achieve the required levels of footfall and income, to achieve a position of viability although the Board recognises it remains a challenge

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Collections Management

All Saints

This year we have continued to move collections from this building, focusing on those items most vulnerable. The problem caused by inappropriate conditions in All Saints continues to be significant, with no obvious immediate solution. We continue to look for opportunities to secure alternative premises for our archaeological collections, but this remains a long term problem to solve, given the likely costs. All possible solutions continue to be considered and as in previous years, we welcome any suggestions for potential locations and funding to resolve this issue.

Collections Discovery Centre

Work continued to move collections into the Collections Discovery Centre (CDC) this year and to organise and document them on the Collection Index + database. This work was supported through a grant received from Dorset Council (Section 106) which enabled us to increase storage capacity through the purchase of new shelving; acquire IT equipment to aid documentation of collections, purchase conservation supplies for repacking and acquire photography equipment for digitisation.

700 boxes of archaeological metalwork were moved from All Saints, and will be repacked and documented in the coming year with the help of a grant from AIM. Social history items from the Old School store were transferred to the CDC and documented. The documentation of the art collection in the CDC was completed, and work began to catalogue items stored in the Art Space. Volunteers continued to work on the organisation and documentation of the natural history collection (including the herbarium), the costume and textile collection, Library collections, and the digitisation of the photographic collection.

Tours of the CDC continued on a regular basis, both for the public and for staff and volunteers. The John Gordon memorial was transferred on loan from St Peter’s Church to the CDC.

Acquisitions

e Objects acquired through the Treasure process included a Middle Bronze Age gold sheet bracelet from Piddletrenthide and a Bronze Age copper-alloy hoard from Tarrant Monkton
e The Museum’s collection of contemporary art was boosted through the acquisition of an oil painting, Portland 141 (2019) by Alex Lowery and Quarry Edge 14 (Portland) (2021), acrylic on board, by Vanessa Gardiner
e The contents of a cabinet, including archaeological and geological items collected by John Mansel Pleydell and Augustus Pitt Rivers

Loans In

e The John Gordon Memorial from St Peters Church, Dorchester, was transferred to Dorset Museum & Art Gallery on loan, following its removal from the church as a result of a petition for a faculty permitting the removal of a fixed memorial.
e Agreement has been reached with the British Museum (BM) about the Hinton St Mary Mosaic, which is now in storage at their Reading unit where it will remain, unless there is a willingness from the BM to loan the mosaic in its entirety, with the central roundel
e Small Warrior an early sculpture by Elisabeth Frink and the subject of an episode of Fake or Fortune was displayed in the Artists’ Dorset gallery to complement the Elisabeth Frink: A View from Within exhibition
e Seated Man, and Fish Head from Yorkshire Sculpture Park, and Riace IIT, Walking Madonna and Goggle Head from the Ingram Collection, all sculptures by Elisabeth Frink, were borrowed for the Elisabeth Frink: A View from Within exhibition.

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Loans Out

e Hambledon Hill/Maiden Castle human remains — Exeter University e Various archaeological objects - Corfe Castle Town Trust, Dorset
e Human remains from Olds Garage and Little Keep — Newcastle University
e Longham Lakes material for the research project Ebb & Flow: Exploring rivers in later prehistoric Britain at Oxford University
e Osteo-archaeological remains for the research project ‘Feed the Birds’, University of Exeter e A patchwork dressing gown dating to the Second World War and stomacher for Fashioning our World exhibition at The Salisbury Museum

Special exhibitions programme

Special Exhibitions Gallery:

e March — June 2023 - ARTISTS ROOMS: Louise Bourgeois
e July — November 2023 - Wildlife Photographer of the Year e December 2023 — April 2024 - Elisabeth Frink: A View from Within Community Space:
e Feb — June 2023 - Dorchester Camera Club - ‘Art of Seeing’
e July — November 2023 — Nature Heals: Photography by Trevor Parsons
e Dec 2023 — Apr 2024: Awakened by Frink Collections Discovery Centre showcase:
e March - July 2023 - PJ Harvey: Orlam
e July — Mar 2023 - The Askerswell Hoard
e Mar — Sep 2024 - John Brown in Dorchester: Rebuilding a Life after slavery

Learning and Engagement

Schools Programme

The formal schools programme has seen significant growth this year, including an increase of SEND schools visits. The team reached 1788 pupils, delivering 50 school sessions and engaging 10 schools through the loans boxes. In addition, the Learning Team completed the second year of the Urban Nature Project with Natural History Museum, creating workshops that incorporate Dorset & Art Gallery’s Natural history collection. The national programme encourages students to become local experts, help observe and collect new data, and take action through science to make a real difference. Pupils explore our hidden collection, discover how early scientists worked and develop their own scientific thinking.

Young people

The Museum successfully applied for funding through the Art Fund Student Opportunities. We were able to employ five students during the period of our Louise Bourgeois exhibition to gallery steward and support the delivery of engagement activities around the exhibition.

Community Engagement Projects

During the year of reporting, 1,000+ people were reached through our community engagement work and 50 community sessions were delivered. Highlights include:

Fashioning our World

Young people worked with practitioners to create new work with textiles and present a fashion show in partnership with The Salisbury Museum, supported by the Esmée Fairbairn Foundation. Wessex in 100 objects

Staff, volunteers, community groups and young people came together to select highlights from our collection to feature in this digital collections showcase.

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Public Engagement activities

e Heritage Open Days: The Museum opened free as part of a Dorchester-wide event. Over 2,000 people attended.
e Monthly lecture series: Our monthly lecture series saw sold out lectures on subjects including new research on the Neolithic (Dr Alison Sheridan) and Ancient Sea Reptiles (Dr Darren Naish) and Elisabeth Frink (Annette Ratuszniak), but others having to be cancelled or held in smaller spaces. We are reviewing the programme for 2024-2025.
e Daytime talks: A number of free daytime talks were held with the support of a grant from the Alice Ellen Dean Cooper Foundation. Subjects included wildlife gardening and underwater photography, the hidden archaeological heritage of west Dorset, and a talk on John Brown for Black History Month.
e A day conference entitled Roman Dorset Town and Country was held in November 2023. The conference highlighted current work in this area from academics and archaeologists, and was fully booked.
e After Dark — October 2023: This event in collaboration with Shire Hall and Keep Military Museum enabled visitors to explore all three museums during Halloween weekend on a combined ticket. 408 tickets sold 239 were paying adults, an increase on 2022
e Festival of Archaeology: A programme of events included Meet the Vikings, a lecture on the dating of the Cerne Abbas giant and participation in ‘Hengefest’ event at Maumbury Rings.
e Teachers’ evening: A teachers’ event demonstrated to schools what the Museum has to offer and encourage future bookings.
e ‘Relaxed openings’ for families, designed to support autistic and neurodiverse children and families took place this year.
e A British Sign Language tour, led by deaf tour guide John Wilson, took place during Deaf Awareness week in May 2023.
e Wildlife Photographer of the Year: An events programme includeda lecture on Dorset Wildlife Trust’s Beaver reintroduction project and smaller daytime talks within our Community Space. Selfguided activities for families ran during the summer holidays.
e Dorchester Family Science Festival in partnership with Town Council and Bournemouth University welcomed just under 800 people to the Museum to learn about science through engaging, hands on activities delivered by over 20 different organisations.
e Storytelling: A pilot ran at the Museum weekly during April-May in partnership with Dorchester Library, attended by around 40 people in total. Regular sessions have taken place monthly since June, welcoming on average of 8 children and their carers per session.
e Jurassic Coast Trust sleep over took place with many families participating but led to significant damage to interactives in Natural Dorset, forcing a review of the event
e New Christmas Elf workshops went well and will be expanded for 2024

Fundraising

e £68,000 = DC cultural grant
e £21,988 = DC support grant
e £104,209: Specific grants and donations for named projects including Elisabeth Frink exhibition e £29,300 Wessex Museums Partnership
e £35,000: Lulworth donation
e £22,500: Art Fund final payment to support the transformation project (TWD)

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

FINANCIAL REVIEW

Financial Report

The accounts which are highlighted within this report showa trading period of the financial year running 1 April 2023 — 31 March 2024.

Total income received for the year ending 31 March 2024 was £1,055,745 compared with £1,221,734 in 2023.

Total unrestricted income including investment and pension gains for the year ending March 2024 was £1,058,146 (2023: £1,915,996) with expenditure of £1,186,562 (2023: £606,713). This included a depreciation amount of £14,122 (2023: £15,668), thus showing a deficit of £128,416 (2023: surplus of £1,309,283) before funds transfer.

Restricted fund income for the year ending 31 March 2024 was £183,701 (2023: £nil) with expenditure of £1,603,392 (2023: £1,673,707) this included a depreciation amount of £1,461,225 (2023: £1,457,195) which is related to the capital project.

Total funds carried forward as at the end of this fiscal year were £11,429,638 (2023: £12,967,156), including restricted funds of £10,937,967 (2023: £12,347,069).

As noted elsewhere in the report and in the accounting policies the charity has developed forecasts and budgets thatdemonstrate its inability to repay the loans that are classified as due in April 2024 and have agreed with Dorset Council, that this will be postponed until 2027/28 with an agreeable interest rate in place.

Regarding the ongoing operational financial stability of the charity, we have moved significantly closer to reaching the levels of income and expenditure required, to enable the Society to operate viability by 2026, assuming certain income assumptions are realized relating to outstanding donations relating to TWD and exhibition tax relief, a scheme that has recently been made permanent by the government. Our investment portfolio which is managed by our agent Charles Stanley is continually monitored under strict guidelines therefore protecting our investments and reserves during this volatile time.

RESERVES

The reserves of the Society consist of all unrestricted funds that are not linked to fixed assets or required for specific purposes. These unrestricted funds are reduced by the pension fund deficit. The Trustees continue to monitor the pension liabilities and the reserves of the Society closely and are aware of the need to match variable income against fixed commitments, with day-to-day working needs being met by careful management of short-term liquid resources.

The main Museum building was gifted to The Dorset Natural History and Archaeological Society.

The main Museum buildings, which are made up of the Crickmay Building (including part of the Victorian galleries), Williams House and the Brawne Extension, have not been capitalized in the Balance Sheet, as reliable cost information is not available and it is not considered beneficial to the users of the Financial Statements to attempt to establish an estimated valuation. However, the property is insured for £33.5m.

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

RISKS

Risk logs for the Society are maintained and kept under regular review. The main risks for each that were managed during 2023-2024, along with their status at the final year end, were as follows:

|1|Visitor numbers remain|consistently|consistently||Grants
requested,
debt
management
renegotiated,| |---|---|---|---|---| ||too
low
for
the
income
from |||| growth plan in place and increase to marketing budget| ||commercial activities and grants to|||| pending approval, costs understood andmanaged| ||compensate|||| |2|Fewer
than
expected|visitors
to||| Budget isbasedon visitornumbers experiencedwith an| ||Dorset due to cost ofliving|||uplift in entrance fees in line with price changes.| |||||Growth
supported
by
current
results
and ongoing| |||||marketing strategy that demonstrates DorsetMuseum is| |||||becoming competitive in Dorchester, Dorset and the| |||||South West.| |3|Staffdepartures / staffburnout|||Handover notes
are
in
place,
salary reviews
have| |||||resulted
in positive adjustments, Employee Support| |||||Programme in place.| |||||Mental
Health
First Aid
being
put
in
place
and| |||||Recruitment plan in place.| |4|Government
action
limits tourism|||| Safeguard any surplus from previous years, Income| ||economy without compensation|||diversification plan implemented.| |5|General
changes
in
heritage||||Remain closely in touch with storyline development,| ||landscape ofDorset challenge Dorset|||| nurturing positive partnerships. Ensure offer at Dorset| ||Museum and limit visitor numbers||||Museum continues to evolve, offeringnew experiences.| ||e.g.
Jurassic
Coast|Museum/||| Review joint ticketing options and / or complementary| ||Weymouth Museum|||activities with new partners.| |||||Renew digital engagement.| ||Lack
of
Health
and
Safety||||H&S Action Plan is in place, support from specialist| ||compliance leads to major incident|||advisors is available and in use| |7|Lack
of
appropriate|safeguarding||| Safeguarding training is in progress, processes also| ||provision leads to major|incident||being
reviewed
to
ensure
effective
reporting
and| |||||recording, safeguarding Trustee nominated to support| |||||DSO| |=
been secured||||| ||Maintenance works requiresmuseum|||| Buildings are wellmaintained and risks understood| ||to close|||| |10|Social media challenge|or negative|/||Communications
management
plan,
to
ensure| ||unfriendly
publicity
arising
from|||| individuals are protected and a response is provided.| ||programming themes.|||BreraPR to provide support. Training to be provided to| |||||Trustees and SMT| |11|Legal challenge impacts|on financial||| Legal advice is provided as part ofour insurance cover,| ||resources and public reputation|||actions would be taken in line with advice| |12|Wessex
Museums|Partnership||| Processes are agreed from the outset to ensure risk| ||challenges the capacity|of core staff||| register is fully addressed.
Staff are supported to lead| ||within DNHAS|||the process by SMT;| |||||Board of Trustees provide additional mentoring and| |||||support;| |||||Financecapacity
ismonitored.|

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

|13|Price inflation provides pressure on
all
areas
of non-salary
spending,|Price inflation provides pressure on
all
areas
of non-salary
spending,|| Reserves will need to be used to manage any spike in
| inflation.| |---|---|---|---| ||disproportionately increasing costs||Mid-year reforecast improves understanding ofrisk.| |14|Museum doesn’t generate|surpluses|| Alternative funding sources to be considered, income| ||2024/5 onwards||diversification required, alternative operational models| ||||and plans are in progress in case needed.| |15|Theft/vandalism to collections||Access to collections is recorded and tracked via digital| ||||keys and sign in books, regular staffpresence across all| ||||collection sites.| |16|Employment
market|very||Competitive salaries have been benchmarked with a| ||challenging,
particularly|for
core|| view to application subject to footfall growth in 2024.| ||skills||Current
retention
levels
are
positive.
Competitive| ||||salaries will also attract good quality candidates for| ||||future vacancies.| |17|Global
instability disrupts|activity,||Good forward planning is essential to manage supply| ||e.g.
materials
supply,|consumer|| chain issues, understanding contingency need| ||confidence, energy and services||| |18|Decisions/ position on local issues or|||Good governance is upheld, a clear and unambiguous| ||programming
themes draw
public||| statement is issued about decision making, context and| ||criticism, disenfranchises members||conclusions| |19|Change in key Trustees or|reduction|| Recruitment committee set up to identify process for| ||in overall Board membership
e.g.||| new Trustees| ||Chair, Finance Chair||| |20|Extreme weather event||Temporary closure of site. Install signs and manage| ||||website and social media comms| |21|Covid-19
or
other|infection|| All
staff are encouraged
to get Covid-19 and
flu| ||significantly
increases|_sickness__||vaccines and boosters.| ||absence||Dispersed working is still possible for some and Covid| ||||safemeasuresareadopted|

PLANS FOR FUTURE PERIODS

The focus of the Society’s plans in the immediate future remains the sustainability of the Museum. Primary workstreams which must be achieved over the coming years are:

| Continuation of the new Marketing Strategy to drive footfall and put Dorset on the map.
_| Financial sustainability through footfall growth, driven by a strong exhibition programme, commercial income enabled by effective pricing, effective fundraising to support core work, management of expenditure revised pricing to ensure all commercial activity generates sufficient profits.
| Ongoing care for world class collections to enable learning, research and participation | Clear oversight of compliance including Health and Safety, HR and Safeguarding to protect and develop staff and volunteers, manage capacity, protect wellbeing and enable outputs to support income growth.
‘| To bring equity, diversity and inclusion into everything we do O To respond actively and responsibly to the climate emergency

Our Forward Plan and Activity Plan are set out in detail and managed by the Trustees.

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of The Dorset Natural History and Archaeological Society for the purpose of company law) are responsible for preparing the Trustees’ Report (incorporating the Executive Directors’ report) and the financial statement in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law theTrustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period. In preparing these financial statements, the Trustees are required to:

| select suitable accounting policies and then apply them consistently;
| observe the methods and principles in the Charities SORP 2019 (FRS 102);
| make judgments and accounting estimates that are reasonable and prudent;
1] state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
‘| prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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 and other irregularities.

In so far as the Trustees are aware:

| There is no relevant audit information of which the charitable company’s auditor is unaware; and | The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of the information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and disseminationof financial statements may differ from legislation in other jurisdictions.

Auditors

The auditors, Scott Vevers Ltd, are deemed to be re-appointed under Section 487(2) of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

On behalf of the board

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access
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Mrs J M Lang, Chair of the Board of Trustees
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Date:.. Total AWK
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The Dorset Natural History and Archaeological Society

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Opinion

We have audited the financial statements of The Dorset Natural History and Archaeological Society for the year ended 31 March 2024 set out on pages 15 to 39. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity’s Trustees, as a body, in accordance with Part four of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements

e give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of the incoming resources and application of resources, including its income and expenditure, for the year then ended;
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
e have been prepared in accordance with the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

e the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
e the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we

The Dorset Natural History and Archaeological Society

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters to which the Charities Act 2011 requires us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the Trustees’ Annual Report; or
e the charitable company has not kept adequate accounting records; or
¢ the charitable company financial statements are not in agreement with the accounting records and returns; or
¢ we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 10, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to a going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Dorset Natural History and Archaeological Society

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the charity through discussions with Trustees and other management, and from our commercial knowledge and experience of the charity sector; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

The Dorset Natural History and Archaeological Society

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Use of our report

This report is made solely to the charitable company’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Scott Vevers Ltd

Chartered Accountants & Statutory Auditors 65 East Street Bridport, Dorset DT6 3LB

Date: re tS 8 2) re

Scott Vevers Ltd is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

The Dorset Natural History and Archaeological Society

Statement ofFinancial	Statement ofFinancial	Statement ofFinancial	Activities (Including Income	Activities (Including Income	and	Expenditure Account)	Expenditure Account)
			YearEnded31	31March2024			Total	Total
			Unrestricted	Restricted	Endowment		2024	2023
	Note		£	£		£	£	£
Income and Endowments from:
Donations and legacies		3	267,989	183,701		-	451,690	743,381
Charitable activities		4	405,146	-		-	405,146	304,849
Other trading activities		5	190,691	-		-	190,691	164,784
Investments		6	8,218	-		-	8,218	8,720
Total income and endowments			872,044	183,701		=	1,055,745	1,221,734
Expenditure on:
Raising funds		7	5,968	“		-	5,968	70,412
Trading activities		8	257,321	-		-	257,321	219,205
Charitable activities		9	923,273	1,603,392		-	2,526,665	1,990,803
Total expenditure			1,186,562	1,603,392		-	2,789,954	2,280,420
Net gains/ (1 Net gains/ (losses) on investments	17	& 18	(6,842)	10,589		:	3,747	(37,632)
Net income/ (expenditure)			(321,360)	(1,409,102)		-	(1,730,462)	(1,096,318)
Transfers between funds		24	-	-		-	-	-
Corporation Tax Recoverable			87,944	-		-	87,944	82,894
Other recognised gains/ (losses):
Remeasurement gain / (loss)
on defined benefit pension		29	105,000	-		-	105,000	649,000
plan
Netmovement in funds			(128,416)	(1,409,102)		-	(1,537,518)	(364,424)
Reconciliation offunds:
Total funds brought forward			619,587	12,347,069		500	12,967,156	13,331,580
Totalfundscarriedforward			491,171	10,937,967		500	11,429,638	12,967,156

All income and expenditure derive from continuing activities, with the exception of the sale of freehold and investment properties & receipt of legacies.

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 18 to 39 form part of these financial statements.

The Dorset Natural History and Archaeological Society

Balance Sheet as at 31 March 2024

		Total	Total
(Registration number: 3362107)		2024	2023
	Note	£	£
Fixed assets
Tangible assets	14	11,792,510	13,221,886
Heritage assets	15	1,128,233	1,092,053
Investments	16	165,569	162,998
		13,086,312	14,476,937
Current assets
Stocks	20	11,000	11,000
Debtors	21	128,447	114,840
Cash at bank and in hand		321,785	491,598
		461,232	617,438
Creditors: amounts falling due within one year	22	(217,906)	(102,219)
Net current (liabilities)/ assets		243,326	$15,219
Total assets less current liabilities		13,329,638	14,992,156
Creditors: amounts falling due after more than one year	23	~=(1,790,000)	(1,815,000)
Net assets excluding pension liability		11,539,638	13,177,156
Defined benefit pension liability	29	(110,000)	(210,000)
Net assets		11,429,638	12,967,156
Charity Funds
Endowment funds	24	500	500
Restricted funds	24	10,937,967	12,347,069
Unrestricted funds	24	601,171	829,587
Pension reserve	24	(110,000)	(210,000)
Totalcharityfunds		11,429,638	12,967,156

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime under the Companies Act 2006 and in accordance with FRS102 SORP. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 in respect of accounting records and preparation of accounts.

Whilst the company is exempt from audit under Section 477 of the Companies Act 2006 relating to small companies and the members have not required an audit under section 476 of the Act, the company is subject to audit under the Charities Act 2011.

tealThe financialqestatementsong were approved and authorised for issue by the Board on BL... Noky, 26 1 &

Mrs J M Lang, Chair of the Board of Trustees

The notes on pages 18 to 39 form part of these financial statements.

The Dorset Natural History and Archaeological Society

	Statement of	Statement of	Cash Flows
	Year	Ended 31 carina	March 2024 are		Total	Total
					2024	2023
				Note	£	£
Cash flow from operating activities				26	(119,843)	(433,692)
Tax recoverable / (paid)					87,944	82,894
Net cash flow from operating activities					(31,899)	(350,798)
Cash flow from investing activities
Payments to acquire tangible fixed assets					(82,151)	(91,502)
Receipts from sales oftangible fixed assets					-	601,533
Payments to acquire investments					(11,190)	(13,501)
Receipts from sales of investments					11,660	240,212
Interest received					1,479	1,942
Dividends received					5,992	4,490
Rents received from investment properties					180	2,288
Net cash flow from investing activities					(74,030)	745,462
Cash flow from financing activities
Interest paid					(64,590)	(78,721)
Net cash flow from financing activities					(64,590)	(78,721)
Net increase / (decrease) in cash and cash		equivalents			(170,519)	315,943
Cash and cash equivalents at 1 April 2023					492,528	176,585
Cash and cash equivalents at 31 March	2024				322,009	492,528
Cash and cash equivalents consists of:
Cash at bank and in hand					321,785	491,598
Short term deposits					224	930
Cashandcashequivalentsat31March	2024				322,009	492,528

The notes on pages 18 to 39 form part of these financial statements.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The Dorset Natural History and Archaeological Society is incorporated in England within the United Kingdom and is a charity limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out in the Trustees’ Report.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

Basis of preparation

Therecognisedcharityatconstituteshistorical acostpublicor transactionbenefit entityvalueasunlessdefinedotherwiseby FRS stated102. Assetsin the relevantand liabilitiesaccountingare initiallypolicy — notes.

Accounting convention

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Income from donations and legacies is recognised in the year in which they are receivable when there is evidence of entitlement, receipt is probable and the amount can be reliably measured. Where income has not been received for gift aid claims relating to donations received in the year, income is accrued.

Income from charitable activities includes membership and admissions income. Membership income is accounted for, in full, in the year that the membership commences. Admission income is recognised on a cash basis, in the year the income is physically received.

Income relating to sales booked online is recognised in the period in which the customer visits the museum. Any income received where the customer has not yet visited is deferred.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practical to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Expenditure

All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Raising funds is expenditure incurred in respect of trading activities carried out by the charity.

Charitable activity expenditure comprises costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them. Grants payable are at the discretion of the Trustees. Governance costs are those costs associated with the governance arrangements of the charity and relate to the general running of the charity as opposed to the costs associated with charitable activities.

Support costs allocations

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the proportion of the asset's use. Other support costs are allocated based on the spread of staff costs.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Tangible fixed assets, including heritage assets

Tangible fixed assets and heritage assets, held for continuing use by the charitable company, are recorded at original cost, or in the case of donated assets, at valuation.

It is the policy of the charity not to capitalise heritage assets belonging to the Museum, where a reliable estimate cannot be made of the asset’s fair value or the information on cost or value is not available and which cannot be obtained at a cost which is commensurate with the benefits to the users of the financial statements. These are in effect inalienable, held in perpetuity, and are mostly irreplaceable. Any financially based valuation would be misleading to the value and significance of the material culture involved. The charity has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long-term care and preservation. The highest possible standards of collection management are applied, and the catalogues are made available as widely as possible to facilitate all enquiries and requests for information, subject to appropriate security and data protection guidelines.

No depreciation is charged on freehold land and buildings as the trustees have a policy of regular repair and maintenance to ensure they are maintained to the highest standard and their residual value will be in excess of cost, meaning any depreciation charge would be immaterial.

Depreciation of other fixed assets is provided in order to write off the cost valuation less residual value of each asset evenly over its estimated useful life as follows:

Freehold property	Not depreciated
Land and buildings	10 years straight line, once complete
Fixtures, fittings and equipment	15% reducing balance, 25% straight line
Collections	Notdepreciated

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate, determined annually by the directors. The directors use market prices where possible, adjusted if necessary for any differences in the nature, location or condition of the specific asset. Changes in fair value are recognised through the SoFA.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value, with all realised and unrealised gains passing through the SoPA. Stock Stock consists of shop stock for resale and publication stocks. Stocks are stated at the lower of cost and net realisable value. Provision is made for obsolete and slow-moving stock where appropriate. Any impairments are calculated based on the likely selling value, compared to cost.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less, from the date of acquisition or opening of the deposit or similar account.

Operating leases

The trustees classifies the lease of properties as operating leases as title remains with the lessor. Rental charges are charged ona straight line basis over the term of the lease.

Defined contribution pension

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior years.

Contributions to defined contribution plans are recognised as staff pension expense through the SoFA, when they are due.

Defined benefit pension obligation

The minority of employees of the charity are members of the Local Government Pension Scheme (LGPS) managed by Dorset County Council.

This is a funded defined benefit scheme where the assets are held separately from those of the charity, in separate Trustee administered funds. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of the plan assets. The defined benefit obligation is measured using the projected unit credit method.

The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are recognised immediately in other gains and losses.

The net liability in the schemes at the date of the transfer of the employees from the respective councils is shown as a separate item in the SoPA.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historic experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The trustees makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Critical accounting estimates and areas of judgement (continued)

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors, that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include discount rate. Any changes in these assumptions, which are disclosed in Note 29, will impact the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transactions. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for similar debt instruments.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

3 Donations and legacies

3	Donations and legacies
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	2024	2023
		£	£	£	£	£
	Grants
	Dorset County Council	81,494	32,000	-	113,494	85,078
	Arts Council England	10,000	-	-	10,000	67,718
	Wessex Museum Trust	42,324	-	-	42,324	106,771
	Roberts Trust	-	-	-	-	30,000
	Other	62,613	146,188	-	208,801	80,490
		196,431	178,188	-	374,619	370,057
	Development appeal fund
	Heritage Lottery Fund	-	5,513	-	5,513	-
	Other
	Donations (including gift aid)	71,558	-	-	71,558	51,467
	Legacies	-	-	-	-	321,857
		71,558	.	-	71,558	373,324
		267,989	183,701	=	451,690	743,381
4	Charitable activities
		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	2024	2023
		£	£	£	£	£
	Membership subscriptions	57,876	-	-	57,876	68,103
	Museum admission fees	346,395	-	-	346,395	235,004
	Events and exhibitions	675	-	-	675	1,742
	Income from lending assets	200	-	-	200	-
		405,146	-	-	405,146	304,849

The Dorset Natural History and Archaeological Society

5 Other trading activities

Notes to the Financial Statements for the Year Ended 31 March 2024

			Unrestricted	Restricted	Endowment	Endowment	Total	Total
			funds	funds		funds	2024	2023
			£	£		£	£	£
	Shop and online sales		97,740	-		-	97,740	64,074
	Bookings income		71,020	-		-	71,020	82,434
	Café rental income		18,496	-		-	18,496	15,813
	Royalties and sundry income		3,435	-		-	3,435	2,463
			190,691	-		=	190,691	164,784
6	Investment income
			Unrestricted	Restricted	Endowment		Total	Total
			funds	funds		funds	2024	2023
			£	£		£	£	£
	Dividends and interest		5,992	-		-	5,992	4,490
	Interest on cash deposits		1,479	-		-	1,479	1,942
	Rental income		180	-		-	180	2,288
	Other interest received		567	-		-	567	-
			8,218	-		-	8,218	8,720
7	Expenditure on raising	funds
			Unrestricted	Restricted	Endowment		Total	Total
			funds	funds		funds	2024	2023
			£	£		£	£	£
	Fundraising fees		3,015	-		-	3,015	36,611
	i L Fund Deli Heritage Lottery Fund Delivery Plan		1,407	;		;	1,407	32,163
	Investment management	fees	1,546	-		-	1,546	1,638
			5,968	-		-	5,968	70,412
8	Expenditure on trading activities
			Unrestricted	Restricted	Endowment		Total	Total
			funds	funds		funds	2024	2023
			£	£		£	£	£
	Shop consumables		45,375	-		-	45,375	30,667
	Employment costs		171,955	-		-	171,955	164,869
	Event consumables		22,432	-	.	-	22,432	12,869
	Establishment costs		17,559	-		-	17,559	10,800
			257,321	-		-	257,321	219,205

6 Investment income

7 Expenditure on raising funds

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

----- Start of picture text -----
9 Expenditure on charitable activities
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	Unrestricted	Restricted	Endowment	Total	Total
	funds	funds	funds	2024	2023
	£	£	£	£	£
Staff costs (including travel)	381,870	47,097	-	428,967	464,960
Direct costs	393,709	1,521,335	-	1,915,044	1,793,081
Support costs	137,539	34,960	-	172,499	(276,163)
Governance costs	10,155	-	-	10,155	8,925
	923,273	1,603,392	-	2,526,665	1,990,803
	Unrestricted	Restricted	Endowment	Total	Total
	funds	funds	funds	2024	2023
	£	£	£	£	£
Direct costs:
Exhibitions, events and collections	93,055	31,720	~	124,775	82,596
General repairs	29,337	553	-	29,890	32,976
Depreciation	14,122	1,461,225	-	1,475,347	1,472,863
Establishment costs	201,804	1,585	-	203,389	147,205
Marketing and promotion	52,258	26,252	-	78,510	53,897
Credit card charges	3,133	-	-	3,133	3,565
Bad debts recoverable	-	-	-	-	(240)
General expenses	-	-	-	-	219
	393,709	1,521,335	~	1,915,044	1,793,081
Support costs:
Office and administration costs	39,280	31,622	-	70,902	63,498
(Profit) / loss on disposal of tangible fixed assets	:	:	-	:	2.176)
Loan interest	64,590	-	-	64,590	78,721
Other finance charges	5,044	-	-	5,044	3,417
Printing, postage and stationery	5,935	1,153	-	7,088	18,068
Professional fees	22,690	2,185	-	24,875	42,309
	137,539	34,960	-	172,499	(276,163)
Governance costs:
Auditor's remuneration	10,155	-	-	10,155	8,925
	10,155	-	-	10,155	8,925

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

10 Net income / (expenditure) for the year

Net income / (expenditure) is stated after charging / (crediting):

Net income / (expenditure) is stated after charging / (crediting):
	2024	2023
	£	£
Depreciation oftangible fixed assets	1,475,347	1,472,863
(Profit) / loss on disposal ofinvestments	1,014	26,963
(Profit) / loss on disposal of tangible fixed assets	-	(482,176)
Operating lease rentals	39,806	24,695
(Profit) / loss on fair value movement of investments	(4,761)	10,669
Auditor's remuneration:
Audit services	6,100	5,975
Otherservices	4,055	2,950

11 Trustees' and key management personnel remuneration and expenses

During the year the charity made the following transactions with trustees:

No trustees, nor any persons connected with them, have received any remuneration, expenses or benefits from the charity during the year, in their capacity as a trustee.

The total amount of employee benefits received by key management personnel is £117,843 (2023: £93,315). The trustees considers its key management personnel comprise the Executive Director, the Commercial Director, and the Director of Collections.

No trustees are accruing pension arrangements (2023: no trustees).

12 Staff costs and employee benefits

The average monthly number of employees and full time equivalent (FTE) during the year/period was as follows:

follows:
	2024	2023	2024	2023
	FTE	FTE	Number	Number
Raising funds	0.4	0.4	1.0	1.0
Charitable activities	16.8	14.2	26.0	22.0
Governance	0.6	0.6	1.0	1.0
	17.8	15.2	28.0	24.0

The total staff costs and employee benefits were as follows:

The total staff costscosts and employee benefits were as follows:
	2024	2023
	£	£
Wages and salaries	485,015	476,769
Social security	33,650	31,687
Defined contribution pension costs	16,864	19,586
Defined benefit pension costs	22,832	57,534
Service providers	33,694	36,055
	592,055	621,631

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

The Dorset Natural History and Archaeological Society

13 Interest payable and similar expenses

Notes to the Financial Statements for the Year Ended 31 March 2024

14

			2024	2023
			£	£
Bank loans and overdrafts			5,044	3,417
Loan interest			64,590	78,721
			69,634	82,138
Tangible fixed assets
			Fixtures,
	Freehold	Land and	fittings and
	Properties	Buildings	equipment	Total
	£	£	£	£
Cost or valuation:
At 1 April 2023	267,878	15,805,245	130,705	= 16,203,828
Additions	-	40,299	5,672	45,971
At 31 March 2024	267,878	15,845,544	136,377	16,249,799
Depreciation:
At	April 2023	-	2,919,065	62,877
Charge for the year	-	1,460,680	14,667	1,475,347
At 31 March 2024	-	4,379,745	77,544	4,457,289
Net book value:
At 31 March 2024	267,878	11,465,799	58,833	11,792,510
At31March2023	267,878	12,886,180	67,828	13,221,886

Freehold properties are functional assets insured for £341,185. At the year end, these comprise the properties of The Old School House and the Craft Market site. Whilst the trustees consider that their market value is higher than the carrying value of these assets, it is impractical to measure their fair value.

The main Museum buildings, which are made up of the Crickmay Building (including part of the Victorian galleries), Williams House and the Brawne Extension, have not been capitalised in the Balance Sheet, as reliable cost information is not available and it is not considered beneficial to the users of the Financial Statements to attempt to establish an estimated valuation. However, the property is insured for £33.5m.

The main Museum buildings were gifted to The Dorset Natural History and Archaeological Society and therefore do not form part of the net book value above. There is a float charge over this property with The Trustees of the National Heritage Mortgage Fund and a second charge to Dorset County Council.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

15 Heritage assets

Heritage assets
	Collections	Total
	£	£
Cost or valuation:
At	April 2023	1,092,053
Additions	36,180	36,180
At 31 March 2024	1,128,233	1,128,233
Depreciation:
At	April 2023	-
At 31 March 2024	-	-
Net book value:
At 31 March 2024	1,128,233	1,128,233
At31March2023	1,092,053	1,092,053

Collections acquired since 1 January 2021 have been capitalised at cost. Where assets have been donated and a reliable estimate cannot be made of the asset's fair value or the cost of valuation is likely to exceed the benefit provided by the information, the asset has not been recognised in the Financial Statements. Please see the Trustees’ Report for more information on the assets donated in the year.

Heritage assets acquired before | January 2021 have not been recognised due to the significant cost that would be involved in valuing the Museum's diverse collections and other assets. This would be onerous compared with the additional benefit that would be derived by the users of the Financial Statements in assessing the trustees’ stewardship of these assets.

No depreciation is charged on collections or galleries in the course of construction.

Five year summary of additions and disposals:

2024 2023 2022 2021 2020 £ £ £ £ £ Purchased additions Assets held at cost 36,180 57,136 2,278 136,270 27,405 Total additions 36,180 57,136 2,278 136,270 27,405 Impairment Assets held at cost - - ~ - - Total impairment - - - - - Net Book Value Disposals Assets held at cost - = = z - Total NBV disposals - - - - -

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

16 Investments

Investments
	2024	2023
	£	£
Investment properties (note 17)	-	-
Quoted investments (note 18)	165,344	162,067
Unquoted investments (note 19)	1	1
Cash held by investment manager	224	930
	165,569	162,998
Investment property
	2024	2023
	£	£
Fair value at 1 April 2023	-	250,000
Disposal proceeds	-	(225,000)
Realised loss on disposal	-	(25,000)
Fair value at 31 March 2024	-	-
Costat31March2024	=	“

17 Investment property

The investment property consisted of 3 Colliton Street which was acquired in 2019-20, as part of the development works. The property was sold on 25 August 2022.

18 Quoted investments

Quoted investments
	2024	2023
	£	£
Fair value at 1 April 2023	162,067	176,410
Additions	11,190	13,501
Disposals	(11,660)	(15,212)
Realised gains/(losses) on disposal	(1,014)	(1,963)
Unrealised gains/(losses) on revaluation	4,761	(10,669)
Fair value at 31 March 2024	165,344	162,067
Cost at 31 March 2024	146,151	149,633
The share portfolio was valued by Charles Stanley & Co. Limited based on the mid market price at 31 March
2024.

19 Unquoted investments

Dorset Museum Trading Company Limited - | ordinary share of £1 each (at cost)

----- Start of picture text -----
2024 2023
£ £
i _
----- End of picture text -----

The company is incorporated in England and has an authorised and issued share capital of 1 ordinary share of £1 each. The principal activity of the company will be retail. It has remained dormant since incorporation.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

20 Stocks

20	Stocks
		2024	2023
		£	£
	Goods for resale	11,000	11,000
21	Debtors
		2024	2023
		£	£
	Trade debtors	30,172	27,567
	Prepayments and accrued income	3,109	1,709
	Other debtors	95,166	85,564
		128,447	114,840
22	Creditors: amounts falling due within one year
		2024	2023
		£	£
	Loans	-	-
	Trade creditors	61,097	21,188
	Accruals and deferred income	135,564	67,112
	Taxation and social security	10,710	9,055
	Other creditors	10,535	4,864
		217,906	102,219
23	Creditors: amounts falling due after more than one year
		2024	2023
		£	£
	Loans	1,790,000	1,815,000

The payment terms and interest rate were renegotiated this year as follows:

A new loan agreement was reached with Dorset County Council in September 2023. There is a repayment holiday until April 2028. Interest is charged on the loan at 3.83% and is repayable over 20 years to 31 March 2058. The loan is secured against a second charge on the freehold property known as Dorset Museum being 65 and 65A High Street, Dorchester, DT1 LXA.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

24 Funds reconciliation

Unrestricted funds	Unrestricted funds
	Balance at					Gains /	Balance at
	01.04.2023	Income’	Expenditure		Transfers	losses	31.03.2024
	£	£	£		£	£	£
Unrestricted
General fund	(239,339)	872,044	(1,073,295)		-	(6,842)	(447,432)
Designated funds
Collections	1,034,916	-	-		-	-	1,034,916
Lifare memberships	9,446	-	-		-	-	9,446
Dugdale Trust	94]	:	:		:		94]
Lift	5,000	-	(1,700)		-	-	3,300
- Roberts Trust	18,623	-	(18,623)		-	-	-
	829,587	872,044	(1,093,618)		-	(6,842)	601,171
Pens} ensien reserve	(210,000)	-	(5,000)		-	105,000	(110,000)
	619,587	872,044	(1,098,618)		-	98,158	491,171
	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)
Designatedfunds
Collections	1,034,916	-	-		-	-	1,034,916
Life . memberships	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
dada reserve	(821,000)	-	(38,000)		-	649,000	(210,000)
	(688,489)	1,221,734	(523,819)	-	1,207	611,368	619,587

The Dorset Natural History and Archaeological Society

24 Funds reconciliation (continued)

Notes to the Financial Statements for the Year Ended 31 March 2024

Restricted funds

	Balance at				Gains /	Balance at
	01.04.2023	Income	Expenditure	Transfers	losses	31.03.2024
	£	£	£	£	£	£
Tomorrow's Museum for Dorset:
Heritage LotteryFund	8,326,148	5,513	(1,505,552)	-	*	6,826,109
Other funding	3,943,911	-	-	-	-	3,943,911
Dorset
Archaeological	48,856	-	-	-	10,589	59,445
Committee
h Monograp Fund	8,042	.	-	-	-	8,042
Gentleman's Magazine	3,001	-	(3,001)	ei	;	-
Funds under £1,000	835	=	(835)	-	“	-
Treasure Acquisitions	3,256	-	e5)	:	7	:
Museums Partnership	8,020	;	(5,000)	-	=	3,020
The Ann James
Fine Art Acquisition	5,000	:	5,000 G00)	-	:	:
Fund
Alice Ellen Cooper Dean	-	10,000	(10,000)	-	“	“
Section 106	>	32,000	(32,000)	-	-	-
NHLF
Resilience	-	136,188	(38,748)	-	-	97,440
Fund
	12,347,069	183,701	(1,603,392)	-	10,589	10,937,967
Endowment funds
Charles Hansfordfund	200	”	-	-	-	500
	12,347,569	183,701	(1,603,392)	-	10,589	10,938,467
Totalfunds	12,967,156	1,055,745	(2,702,010)	-	108,747	11,429,638

The Dorset Natural History and Archaeological Society

24 Funds reconciliation (continued)

Notes to the Financial Statements for the Year Ended 31 March 2024

Restricted funds
	Balance at				Gains /	Balance at
	01.04.2022	Income	Expenditure	Transfers	losses	31.03.2023
	£	£	£	£	£	£
Tomorrow's Museumfor Dorset:
Heritage Lottery Fund	9,938,589 oa	°	1,612,441 (1,612,441)	-	-	8,326,148 ,920,
Otherfunding	3,943,911	-	-	-	-	3,943,911
Dewlish
Mosaic Public	50,025	-	(50,025)	-	-	-
Appeal
Dorset
Archaeologica	48,856	#	-	-	-	48,856
	Committee
Jurassic Coast Gallery	9.974 ,	:	9.974 (9,974)	:	:	:
Monograph Fund	8,042	-	-	-	-	8,042
Museum Makers	(1,207)	-	-	1,207	-	-
Gentleman's Magazine	3,001	.	:		3	3,001
WDDC Social oa Inclusion	885	-	(885)	:	2	-
Funds under £1,000	835	-	-	-	-	835
Barnes -
Dugdale	382	-	(382)	-	-	-
portrait
Treasure Acquisitions	3,256	-	-	-	-	3,256
Museums Partnership	8,020	.			-	8,020
TheAnn James
Fine Art 7 Acquisition	5,000	-	-	-	-	5,000
Fund
	14,019,569	-	(1,673,707)	1,207	-	12,347,069
Endowmentfunds
Charles
Hansfordfund	500	-	-	-	-	500
	14,020,069	-	(1,673,707)	1,207	-	12,347,569
Totalfunds	13,331,580	1,221,734	(2,197,526)	-	611,368	12,967,156

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

24 Funds reconciliation (continued)

Unrestricted funds

The general fund represents the free funds which are not designated by the Board, for particular purposes.
Designated funds represent money set aside for specific purposes at the discretion of the Board.
The collections designated funds represents the net book value of the collections held within heritage assets.
The pension reserve represents the notional funding deficit calculated under FRS102 in respect of the charitable company's pension scheme advised by the scheme actuary.
The revaluation reserve is required under the Companies Act 2006 and represents the difference between the historic cost and market value of investments, at the Balance Sheet date.

Restricted funds

The Dorset Archaeological Committee fund represents money received specifically for the committee.
The treasure acquisition fund represents monies raised to purchase specific artefacts.
Where funding is agreed in advance, but only paid on receipt of invoices, funds may go into deficit temporarily.
Where funds are raised for a particular asset, a transfer is made to the relevant fund when the asset is capitalised.
Archaeology gallery fund represents funds raised from the public, members and trusts towards the archaeology redevelopment.
Tomorrow's Museum for Dorset:
Heritage Lottery Fund represents the funds received towards the museum redevelopment and equals the net book value of property improvements capitalised using Heritage Lottery Funds.
Other funding represents the funds received towards the museum redevelopment and equals the net book value of property improvements capitalised using Heritage Lottery Funds.
Development appeal fund represents unspent funds raised from the public, members and trusts towards the museum redevelopment.
Other funds represent monies raised for a particular purpose or project.
Museums Partnership fund represents a grant towards collections assistants salaries.
Dewlish Mosaic Public Appeal are funds towards the purchase of Dewlish Mosaic which proved to be successful.
The Ann James Fine Art Acquisition Fund was a legacy from the late Mrs Ann James and is dedicated to the purchase of fine art for the museum to a total value of £5,000.
Endowment funds
The Charles Hansford fund, which is permanent endowment fund, represents a bequest made in 1910. Interest arising from the investment, which is restricted, is to be utilised towards the maintenance and benefit of the museum and library.
Heritage assets are capital assets held for conservation and preservation purposes and are therefore shown as expendable endowment. The balance of collections has been transferred to designated funds and the museum and gallery improvements have been transferred to restricted funds during 2020; as the purposes of the funds did not meet the requirement of an endowment fund.

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

25 Analysis of net assets between funds

Analysis of netnet assets between funds
	Unrestricted	Restricted	Endowment	Total
	2024	2024	2024	2024
	£	£	£	£
Fixed assets	1,619,820	11,466,492	-	13,086,312
Cash and current investments	321,285	-	500	321,785
Other current assets / liabilities	450,066	(528,525)	-	(78,459)
Creditors more than one year	(1,790,000)	-	-	(1,790,000)
Provisions /pensions	(110,000)	-	-	(110,000)
	491,171	10,937,967	500	= 11,429,638
	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
Reconciliation ofnetincome / (expenditure) to	net cash flow	from operating	activities
			2024	2023
			£	£
Net income / (expenditure) for the year			(1,730,462)	(1,096,318)
Dividends received			(5,992)	(4,490)
Rents received from investment properties			(180)	(2,288)
Interest receivable			(1,479)	(1,942)
Interest payable			64,590	78,721
Depreciation and impairment of tangible fixed assets			1,475,347	1,472,863
(Gains) / losses on investments			(4,761)	10,669
(Profit) / loss on disposal oftangible fixed assets			-	(482,176)
(Profit) / loss on disposal offixed asset investments			1,014	26,963
Post-employment benefits less payments			5,000	38,000
(Increase) / decrease in stock			-	-
(Increase) / decrease in debtors			(13,607)	(77,379)
Increase / (decrease) in creditors			90,687	(396,315)
			(119,843)	(433,692)

26 Reconciliation of net income / (expenditure) to net cash flow from operating activities

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

27 Related party transactions

There were no related party transactions during the year.

28 Contingent liability

Grants received from the National Heritage Memorial Fund amounting to £12,898,957 (total received so far) as at 31 March 2024 may become subject to partial repayment in the event that the assets built, with the funds provided, are sold (2024: £12,537,756). The amounts potentially repayable are secured by a legal charge in favour of the National Heritage Memorial Fund.

29 Pensions and other post-retirement benefits

Defined contribution pension plans

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £16,864 (2023: £19,586).

Defined benefit pension plans

The charity operates a defined benefit pension plan for qualifying employees providing benefits based on career average revalued earnings. The pension plan is funded by the payment of contributions and assets of the plan are held in a separately administered fund.

It is the Dorset County Pension Fund, a Local Government Pension Scheme, which is a contracted-out defined benefit multi-employer pension scheme.

The assets of the defined benefits scheme are held separately from those of the charitable company. The scheme is funded by contributions from the employees and participating employers, in accordance with the recommendations of independent qualified actuaries on the basis of triennial valuations.

The most recent comprehensive actuarial valuation of pension plan assets and the present value of the defined benefit obligation were carried out at 31 March 2022.

At the year end there were contributions due to the scheme totalling £6,862 (2023: £90) which are included in creditors.

The scheme is a funded defined benefit pension scheme, with assets held in separate Trustee administrated fund, The total contributions made for the year ended 31 March 2024 were £21,464 (2023: £23,753), of which the employer contributions totalled £17,832 (2023: £19,534) and employees’ contributions totalled £3,632 (2023: £4,219). The current rates for future years are 18.3% (2023: 18.3%).

The total cost recognised in the period was as follows:

The total cost recognised in the period was as follows:
	2024	2023
	£'000	£'000
Current service cost	12	36
Net interest income / expense	10	21
Administration expenses	1	1
Recognised in net income / expenditure	23	58
Recognised in other gains / losses	-	-
Totalcostrecognised	23	58

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

29 Pensions and other post-retirement benefits (continued)

Defined benefit pension plans (continued)

Amounts recognised in the balance sheet were as follows:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2024|2023| |£'000|£'000| |Present|value|of funded|obligations|1,386|1,372| |Fair|value|of plan|assets|(1,276)|(1,162)| |110|210|

----- End of picture text -----

The pension expenditure for the year was £5,000 (2023: £38,000). The remeasurement gain on the defined benefit pension plan was £105,000 (2023: £649,000).

Changes in the present value of the defined benefit obligations were as follows:

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |£'000|£'000| |Opening|defined|benefit|obligation|1,372|2,054| |Current|service|cost|12|36| |Past|service|cost|-|-| |Interest|expense|65|53| |Actuarial|(gains)|/|losses|-|-| |Change|in|financial|assumptions|(12)|(896)| |Change|in|demographic|assumptions|(18)|(49)| |Experience|gain/|loss|on|defined|benefit|obligation|5|209| |Contributions|by|scheme|participants|4|4| |(Estimated)|benefits|paid|(net|of transfers|in)|(42)|(39)| |Closing|defined|benefit|obligation|«1,386. 1,372,| |Changes|in|the|fair|value|of the|pension|plan|assets|were|as|follows:|

----- End of picture text -----

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£'000|£'000| |Opening|plan|assets|1,162|1,233| |Interest|income|55|32| |Actual|return|on|plan|assets|(excluding|interest|income)|80|(89)| |Other|actuarial|gains|/|(losses)|-|2| |Administration|expenses|(1)|(1)| |Contributions|by|charity|(included|unfunded)|18|20| |Contributions|by|scheme|participants|4|4| |(Estimated)|benefits|paid|(plus|unfunded|net|of transfers|in)|(42)|(39)| |Closing|plan|assets|1,276|1,162|

----- End of picture text -----

The total return of the fund assets for the year to 31 March 2024 was a surplus of £135,000 (2023: loss of £57,000).

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

29 Pensions and other post-retirement benefits (continued)

Defined benefit pension plans (continued)

The amount that each major class of pension plan assets constitutes of the fair value of the total plan assets was as follows:

was as follows:
	2024	2023
	£'000	£'000
Equity instruments	799	724
Debt instruments (bonds)
Gilts	-	6
Other bonds	83	76
Property	100	94
Other assets
Cash	27	19
Diversified Growth Fund	84	78
Infrastructure	95	88
Multi Asset Credit	88	77
	1,276	1,162
The principal actuarial assumptions used were as follows:
	2024	2023
	%	%
Discount rate	4.90	4.80
Expected rates of salary increases	3.90	3.85
Expected rates ofpension increases	2.90	2.85
Expected rate of inflation - RPI	3.20	3.20
Expected rate ofinflation - CPI	2.90	2.85
The mortality assumptions used for longevity (in years) on retirement at age 65 are:
	2024	2023
	years	years
Retiring at the balance sheet date
- Males	21.8	22.2
- Females	23.9	24.2
Retiring in 20 years
- Males	23.1	23.5
-Females	25.4	25.6

The Dorset Natural History and Archaeological Society

Notes to the Financial Statements for the Year Ended 31 March 2024

30 Leases

Total future minimum lease payments under non-cancellable operating leases

	2024	2023
	£	£
Not later than one year	42,278	41,834
Later than one year but not later than five years	1,285	3,757
	43,563	45,591

31 Financial instruments

The carrying amounts of the charity's financial instruments measured at fair value through net income / expenditure are as follows:

expenditure are as follows:
	2024	2023
	£	£
Financial assets
Measured at fair value through net income / expenditure:
- Fixed asset investments	165,569	162,998
Measured at amortised cost
- Debt instruments	447,123	604,729
	612,692	767,727
Financial liabilities
Measuredatamortisedcost	2,007,906	1,917,219

The income, expenses, net gains and net losses attributable the charity's financial	instruments are summarised	instruments are summarised
as follows:
Income and expense
Financial assets measured at fair value through net income / expenditure	5,992	4,490
Net gains and losses
Financialassetsmeasuredatfairvaluethroughnetincome/expenditure	3,747	(12,632)

Contents

Reference and Administrative Details

Charity Name

Introduction

Reference and Administrative Details

STRUCTURE, GOVERNANCE AND MANAGEMENT

Directors and Trustees

Dorset Council Representative

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

OBJECTIVES AND ACTIVITES

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE

Overview

Claire Dixon, Executive Director and Jean Lang, Chair of the Board of Trustees

The Dorset Natural History and Archaeological Society

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Collections Management

All Saints

Collections Discovery Centre

Acquisitions

Loans In

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Loans Out

Special exhibitions programme

Learning and Engagement

Schools Programme

Young people

Community Engagement Projects

Fashioning our World

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

Public Engagement activities

Fundraising

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

FINANCIAL REVIEW

Financial Report

RESERVES

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

RISKS

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

PLANS FOR FUTURE PERIODS

Trustees’ Report (Including Director’s Report) Year Ended 31 March 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

In so far as the Trustees are aware:

Auditors

Small company provisions

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Opinion

In our opinion the financial statements

Basis for opinion

Conclusions relating to going concern

Other information

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Matters on which we are required to report by exception

Responsibilities of Trustees

Auditor’s responsibilities for the audit of the financial statements

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

The Dorset Natural History and Archaeological Society

Independent Auditors’ Report to the Trustees Year Ended 31 March 2024

Use of our report

The Dorset Natural History and Archaeological Society

Balance Sheet as at 31 March 2024

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Charity status

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

Statement of compliance

Basis of preparation

Accounting convention

Funds

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Income

Expenditure

Support costs allocations

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Tangible fixed assets, including heritage assets