The Priest's House Museum Collection Trust
Annual Report and Financial Statements Year Ended 31 March 2022 Charity registration number: 1068563
The Priest's House Museum Collection Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Auditors' Report | 6 to 9 |
| Statement of Financial Activities | 10 to 11 |
| Balance Sheet | 12 |
| Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 to 27 |
The Priest's House Museum Collection Trust
Reference and Administrative Details
Trustees Sue Revill (Chairperson) Sue Cook (Vice chair) Derek Burt Mike Carter Charles Curtis Sara Marshall (appointed 13 August 2021) Cathy Thompson Principal Office 23-27 High Street Wimborne Minster Dorset BH21 1HR Charity Registration Number 1068563 Solicitors Jeremy Mills Mills Keep Dorset House 5 Church Street Wimborne Minster Dorset BH21 1JH Auditor PKF Francis Clark Chartered Accountants Towngate House 2 - 8 Parkstone Road Poole Dorset BH15 2PW
Page 1
The Priest's House Museum Collection Trust
Trustees' Report
THE PRIEST’S HOUSE MUSEUM COLLECTIONS TRUST
TRUSTEES’ REPORT 2021-2022
GOVERNANCE
The Priest’s House Museum Collections Trust is governed by its Declaration of Trust dated the 23rd December 1997 and deed variation of the 24th March 1998. The charitable trust constituted by this deed and its property shall be administered and managed by the trustees under the name of “The Priest’s House Museum Collections Trust”.
APPOINTMENT OF TRUSTEES
As set out in the Declaration of Trust and deed variation the body of Trustees shall consist of no more than seven persons, namely two ex-officio trustees, three nominated trustees, and two co-opted trustees. The ex-officio trustees shall be the President and the Chair of the Priest’s House Museum Trust. The nominated trustees shall be appointed by The Members of the Priest’s House Museum Trust, and the Trustees of the Priest’s House Museum Trust. Each appointment shall be made for a term of three years at a meeting convened and held according to the ordinary practice of the appointing body. The person appointed may be, but need not be, a member of the appointing body. When considering co-option regard is given to a balance of skills to ensure that the trustees have as wide a knowledge base as possible. Trustees can take advantage of training modules as required.
AIMS AND OBJECTIVES
The Charity’s purposes are set out in the objects contained in the Declaration of Trust of the Priest’s House Museum Collections Trust. The principle objects are to encourage and promote knowledge of archaeology, ethnology, history, natural history and kindred sciences and painting and arts and crafts especially in relation to the town and district of Wimborne Minster and East Dorset. In addition to establish and maintain a permanent collection of artefacts, volumes, and documents of scientific, historical, or general interest, maps, pictures, records, photographs, models, and similar objects and to promote exhibitions involving the exchange and loan of items and collections.
The aims of the Charity are to maintain and care for the existing collection, to add to (or rationalise) the existing collection in accordance with the Acquisitions and Disposals Policy.
The Trustees of The Priest’s House Museum Collections Trust have referred to the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning activities.
OVERVIEW OF THE YEAR
The Priest’s House Museum Collections Trust is to benefit from a legacy bequeathed to the Trust by a local resident. This was accompanied by a Letter of Wishes indicating that the resident would prefer that one of the properties in the bequest, being local, should be considered as a visitor experience. The Trust commissioned a feasibility study to ascertain the possibility of doing this, which when completed, concluded that for several reasons, including management and maintenance costs, would be impractical. Therefore, the property will be sold, and proceeds passed to the Trust.
The Trust commissioned a film maker to produce a film and narrative of the house and garden before disposal, ensuring that there will be comprehensive archive material.
As a result of a potentially large sum of money to be received by the Collections Trust in due course, Trustees are looking into investment possibilities, and preparing an investment plan.
Page 2
The Priest's House Museum Collection Trust
Trustees' Report
PRIEST’S HOUSE MUSEUM COLLECTIONS TRUST
TRUSTEES REPORT 2021-2022
Background Information: Backlog Elimination Project
In January 2015 the Museum appointed a Collections Officer, now known as the Curator, whose primary role was to tackle a longstanding backlog in the documentation of the museum collection. An initial review of the collections revealed:
-
There were an estimated 35,000 objects (excluding the photograph collection) in the museum collection.
-
Only 16,596 accessioned objects had a record on the collections database.
-
A further 6,533 records had been created for undocumented objects with inventory (‘INV’) numbers had been recorded on the database.
-
Many of the existing database records were inadequate, providing little information on objects and with out-of-date locations.
-
Approximately 12,000 objects had not been recorded on the database.
A plan was developed to systematically eliminate the backlog. This involved updating and improving existing records on the database and creating new records where necessary. Additionally, the project aimed to re-organise the storage of objects to improve physical access to collections and make best use of space in the collections store.
Between 2015 and 2018 a volunteer team was developed to implement the backlog elimination plan. This included data-inputters who created records on the MODES collections database, and collections assistants working on marking, labelling, repacking, and documenting objects.
Since 2015 the project has achieved the following outcomes:
-
Added 11,773 records for accessioned objects to the collections database.
-
Added 2,331 inventory records to the collections database.
-
There are 28,369 records for accessioned objects currently on the collections database.
-
Re-organised and improved the storage of objects in the collections store.
Outstanding Backlog Elimination Work: Collections Review 2021-22
Below is a review of the work being done in documenting and caring for the collections. The review is broken down by individual collection.
Archaeology Collection
This collection contains several significant local archaeological archives, including those for the prehistoric and Roman sites at Simons Ground and Tarrant Hinton. This collection is held in the collections store, located in the Hilda Coles Centre. Documentation for the collection has been carried out by an Honorary Keeper of Archaeology working with the Curator.
Most of the archaeology collection has been fully catalogued. Some archaeological material is yet to be accessioned and catalogued, primarily the finds from the community dig carried out in the grounds of the museum. An audit is underway to identify the extent of this material, then accession and catalogue it.
Page 3
The Priest's House Museum Collection Trust
Trustees' Report
Small finds and items purchased under the terms of the Treasure Act 1996 are accessioned and catalogued on an ongoing basis.
Our last Honorary Keeper retired in 2021. The Museum is currently looking to recruit a suitably qualified and experienced person to lead the work documenting the archaeology collection.
Costume Collection
This collection contains about 3,000 items of clothing, accessories, and textiles. It is currently stored in three rooms in the museum building attic. Documentation of the costume collection is carried out by the Honorary Keeper of Costume working with the Curator.
Work began on addressing the documentation backlog involved transferring paper-based information (labels, inventory sheets, catalogue cards) onto the collections database to improve and update existing records on the collections database. Work has also taken place to deal with a backlog of unprocessed donations by giving them accession numbers and create records on the collections database.
Currently about a third of the collection has been fully catalogued on the collections database. Another third of the collection has partial database records. Work is underway to improve and update these records. The remaining part of the collection currently only has a basic inventory record. These objects are being assessed, given an accession number where appropriate, and will then be catalogued on the database.
Ephemera Collection
The museum has a collection of approximately 7,000 paper ephemera items, including posters, programmes, tickets, greeting cards and documents. Most of this collection has now been catalogued on the collections database.
There are approximately 500 items in this collection that not been catalogued. These include maps, plans, newspapers, and magazines which only have a basic inventory record. These items are being sorted and assessed prior to being accessioned and catalogued.
Photograph Collection
The photograph collection is made up of approximately 40,000 items. This includes all media formats – photographic prints, negatives, and slides. However, a significant number of these items are duplicates of the same image, so many of these will not be individually accessioned and catalogued.
The Honorary Keeper of Photographs is responsible for documenting the collection, under the supervision of the Curator.
Work on the Photographic Collection has continued to make progress. The emphasis remains on identifying the items are held within the collection and cataloguing them. There are 12,494 items that have been fully catalogued and uploaded onto the photograph collection database. Thousands of other items have been partially processed but are still to be uploaded. A significant number of images are yet to be identified, primarily in albums or as photographs of Museum events that were recently transferred from administrative files to the photograph collection.
Social History Collection
This collection is estimated to contain 20,000 objects, relating to farming, rural crafts, local trades and industries, childhood, and domestic life. Most of this collection is now catalogued on the collections database.
Page 4
The Priest's House Museum Collection Trust
Trustees' Report
Approximately 2,000 social history items remain to be fully catalogued. These objects either have partial database records that will need to be improved or only have a basic inventory record. These objects will need to be assessed, and if suitable accessioned and fully catalogued on the database.
SUMMARY
The Curator aims to concentrate efforts on cataloguing the estimated 6,000 outstanding objects and documents in the costume, social history, and ephemera collections. They would also seek to assess and undertake the work needed to complete the cataloguing of the archaeology collection.
The photograph collection should be viewed as a long-term project. The practicality of increasing the number of volunteers working on the documentation of this collection should be considered in consultation with the Honorary Keeper of Photographs.
FINANCE
The Trust held investment assets of £128,415 (2021: £123,633) at the year end. In addition, the Trust held cash on deposit of £64,040 (2021: £65,132). These investments produced an income of £5,167 (2021: £4,769), which was donated to The Priest’s House Museum Trust.
During the year the Trust benefitted from a substantial legacy. At year end a significant proportion of this legacy was held in properties which were being marketed for sale by the executors of the will. The Trustees have considered the likely selling prices expected to be achieved for the various properties (less relevant costs) and have incorporated the value of the legacy into the accounts at an amount of £1,750,000 which is included in designated funds.
RESPONSIBILITIES OF TRUSTEES
The trustees 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
The annual report was approved by the trustees of the charity on 7 December 2022 and signed on its behalf by:
......................................... Sue Revill (Chairperson) Trustee
Page 5
The Priest's House Museum Collection Trust
Independent Auditor's Report to the Members of The Priest's House Museum Collection Trust
Opinion
We have audited the financial statements of The Priest's House Museum Collection Trust (the 'charity') for the year ended 31 March 2022, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
-
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of 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 charity 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
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the 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.
Page 6
The Priest's House Museum Collection Trust
Independent Auditor's Report to the Members of The Priest's House Museum Collection Trust
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 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 charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Auditor’s responsibilities for the audit of the financial statements
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:
Page 7
The Priest's House Museum Collection Trust
Independent Auditor's Report to the Members of The Priest's House Museum Collection Trust
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the Charity. We gained an understanding of the Charity and the sector in which the Charity operates as part of this assessment to identify the key laws and regulations affecting the Charity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and Charities SORP - FRS 102.
We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. We also identified the individuals who have responsibility for ensuring that the Charity complies with laws and regulations and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the Charity’s ability to continue trading and the risk of material misstatement to the accounts.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:
• Enquiries of management and trustees regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances, allegations or suspicions of fraud.
-
Reviewed Board minutes.
-
Reviewed estimates and judgements made in the accounts for any indication of bias.
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. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' 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 its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Page 8
The Priest's House Museum Collection Trust
Independent Auditor's Report to the Members of The Priest's House Museum Collection Trust
Comparative period
In 2020/21 the charity was exempt from the requirement for audit. Consequently, the prior year comparatives are unaudited.
...................................... Anne-Marie Gates (Senior Statutory Auditor) PKF Francis Clark, Statutory Auditor
Towngate House 2 - 8 Parkstone Road Poole Dorset BH15 2PW
Date: 13 January 2023
PKF Francis Clark is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 9
The Priest's House Museum Collection Trust
Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account)
| Note Income and Endowments from: Donations and legacies 2 Investment income 3 Total Income Expenditure on: Charitable activities 4 Other expenditure 5 Total Expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted funds £ 1,750,025 5,167 1,755,192 (4,500) (5,309) (9,809) - 1,745,383 64,157 1,809,540 |
Restricted funds £ - - - - - - 4,782 4,782 123,633 128,415 |
Total 2022 £ 1,750,025 5,167 |
|---|---|---|---|
| 1,755,192 | |||
| (4,500) (5,309) |
|||
| (9,809) | |||
| 4,782 | |||
| 1,750,165 187,790 |
|||
| 1,937,955 |
The notes on pages 14 to 27 form an integral part of these financial statements. Page 10
The Priest's House Museum Collection Trust
Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account)
| Note Income and Endowments from: Investment income 3 Expenditure on: Charitable activities Other expenditure 5 Total Expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted £ 4,769 (2,055) (8,438) (10,493) - (5,724) 69,881 64,157 |
Restricted £ - - - - 16,571 16,571 107,062 123,633 |
Total 2021 £ 4,769 (2,055) (8,438) |
|---|---|---|---|
| (10,493) | |||
| 16,571 | |||
| 10,847 176,943 |
|||
| 187,790 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 13.
The notes on pages 14 to 27 form an integral part of these financial statements. Page 11
The Priest's House Museum Collection Trust
Balance Sheet
31 March 2022
| Note Fixed assets Investments 9 Current assets Debtors 10 Cash at bank and in hand 11 Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 13 |
2022 £ 128,415 1,750,000 64,040 1,814,040 (4,500) 1,809,540 1,937,955 128,415 1,809,540 1,937,955 |
2021 £ 123,633 - 65,132 |
|---|---|---|
| 65,132 (975) |
||
| 64,157 | ||
| 187,790 | ||
| 123,633 64,157 |
||
| 187,790 |
The financial statements on pages 10 to 27 were approved by the trustees, and authorised for issue on 7 December 2022 and signed on their behalf by:
Sue Revill (Chairperson) Trustee
The notes on pages 14 to 27 form an integral part of these financial statements. Page 12
The Priest's House Museum Collection Trust
Cash Flow Statement
Year Ended 31 March 2022
| Year Ended 31 March 2022 | ||
|---|---|---|
| Note Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Investment income 3 Reval reserve - Movement in value of investments Working capital adjustments Increase in debtors 10 Increase in creditors 12 Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 3 Net decrease in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March |
2022 £ 1,750,165 (5,167) (4,782) 1,740,216 (1,750,000) 3,525 (6,259) 5,167 (1,092) 65,132 64,040 |
2021 £ 10,847 (4,769) (16,571) |
| (10,493) - 975 |
||
| (9,518) 4,769 |
||
| (4,749) 69,881 |
||
| 65,132 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 27 form an integral part of these financial statements. Page 13
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
1 Accounting policies
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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Priest's House Museum Collection Trust is a registered charity, registration number 1068563 registered in the United Kingdom. The address of the charity is given in the reference and administrative details on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to save and care for objects relating to East Dorset.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
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.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations
Donations are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/ executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Investment income
Investment income is recognised on a receivable basis.
Page 14
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those 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 those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Heritage assets
Since 1962 the museum and subsequent trusts have developed the collection to reflect the history of Wimborne and East Dorset and the policy for the acquisition, preservation, management and disposal is covered by the Collection's Development policy (reviewed and updated triennially current policy 2016 to 2019) and approved by the Arts Council for England as part of the Museum's Accreditation. The accounts do not reflect the value of the heritage assets as the cost or valuation is not available and to obtain that information would not be financially or ethically viable for the benefit to the users of the accounts. The collection is insured by specialist fine art insurers RK Harrison.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Page 15
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds which are resources set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2 Income from donations and legacies
| Donations and legacies; Legacies |
Unrestricted funds General £ 1,750,025 1,750,025 |
Total 2022 £ 1,750,025 |
|---|---|---|
| 1,750,025 |
3 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments 4 Expenditure on charitable activities Governance costs (see note below) |
Unrestricted funds General £ 20 5,147 5,167 |
Total 2022 £ 20 5,147 5,167 Total 2022 £ 4,500 |
Total 2021 £ 57 4,712 |
|---|---|---|---|
| 4,769 | |||
| Total 2021 £ 2,055 |
Governance costs (see note below)
Page 16
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
5 Other expenditure
| Note Other resources expended 6 Analysis of governance and support costs |
Unrestricted funds General £ 5,309 5,309 |
Total 2022 £ 5,309 5,309 |
Total 2021 £ 8,438 |
|---|---|---|---|
| 8,438 | |||
Governance costs
| Unrestricted funds General £ Audit fees Audit of the financial statements 4,500 Independent Examiner’s remuneration - Independent examiners fee understated in prior year - 4,500 7 Net incoming/outgoing resources Net incoming/(outgoing) resources for the year include: Audit fees Independent Examiners fee Independent Examiners fee understated in prior year |
Total 2022 £ 4,500 - - 4,500 2022 £ 4,500 - - |
Total 2021 £ - 975 1,080 |
|---|---|---|
| 2,055 | ||
| 2021 £ - 975 1,080 |
8 Trustees' remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
Page 17
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
9 Fixed asset investments
Other investments
| Other investments | ||||
|---|---|---|---|---|
| Cost or Valuation At 1 April 2021 Revaluation At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 All investment assets were held in the UK. 10 Debtors Accrued income 11 Cash and cash equivalents Cash at bank Short-term deposits 12 Creditors: amounts falling due within one year Accruals |
Listed investments £ 123,633 4,782 128,415 128,415 123,633 2022 £ 16,182 47,858 64,040 2022 £ 4,500 |
Total £ 123,633 4,782 128,415 128,415 123,633 2022 £ 1,750,000 |
||
| 128,415 | ||||
| 128,415 | ||||
| 123,633 | ||||
| 2022 £ 16,182 47,858 64,040 2022 £ 4,500 |
||||
| 2021 £ 17,294 47,838 |
||||
| 65,132 | ||||
| 2021 £ 975 |
Page 18
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
13 Funds
| Unrestricted funds General Unrestricted General Fund Designated Designated Fund I Willis Legacy Total unrestricted funds Restricted funds Restricted Fund Total funds |
Balance at 1 April 2021 £ 59,157 5,000 - 5,000 64,157 123,633 187,790 |
Incoming resources £ 1,755,192 - - - 1,755,192 - 1,755,192 |
Resources expended £ (9,809) - - - (9,809) - (9,809) |
Transfers £ (1,750,000) - 1,750,000 1,750,000 - - - |
Other recognised gains/(losses) £ - - - - - 4,782 4,782 |
Balance at 31 March 2022 £ 54,540 5,000 1,750,000 |
|---|---|---|---|---|---|---|
| 1,755,000 | ||||||
| 1,809,540 128,415 |
||||||
| 1,937,955 |
Page 19
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
| Unrestricted funds General Unrestricted General Fund Designated Designated Fund Total unrestricted funds Restricted Restricted Fund Total funds |
Balance at 1 April 2020 £ 64,881 5,000 69,881 107,062 176,943 |
Incoming resources £ 4,769 - 4,769 - 4,769 |
Resources expended £ (10,493) - (10,493) - (10,493) |
Other recognised gains/(losses) £ - - - 16,571 16,571 |
Balance at 31 March 2021 £ 59,157 5,000 |
|---|---|---|---|---|---|
| 64,157 123,633 |
|||||
| 187,790 |
The specific purposes for which the funds are to be applied are as follows:
The restricted fund relates to the fixed asset investments held.
The designated reserve fund of £5,000 is a general reserve.
The designated reserve fund of £1,750,000 is regarding the I Willis legacy.
Page 20
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
14 Analysis of net assets between funds
| Fixed asset investments Current assets Current liabilities Total net assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ - - 59,040 1,755,000 (4,500) - 54,540 1,755,000 Unrestricted funds General £ Designated £ - - 60,132 5,000 (975) - 59,157 5,000 |
Restricted funds £ 128,415 - - 128,415 Restricted funds £ 123,633 - - 123,633 |
Total funds at 31 March 2022 £ 128,415 1,814,040 (4,500) |
|---|---|---|---|
| 1,937,955 | |||
| Total funds at 31 March 2021 £ 123,633 65,132 (975) |
|||
| 187,790 |
15 Related party transactions
During the year the charity made the following related party transactions:
The Priest's House Museum Trust
(A charity with common Trustees)
During the year £5,147 (2021: £3,837) was received as investment income and donated to The Priest's House Museum Trust. . At the balance sheet date the amount due to/from The Priest's House Museum Trust was £Nil (2021 - £Nil).
Page 21
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
16 Gifts, purchases, loans in, returns to lenders, transfers to other institutions
April 2021 - March 2022
GIFTS
- One pint milk bottle embossed ‘G. Whiffen, Stone Farm, Wimborne’. E2559 Presented by Anthony Malin.
2. Ten Verwood pottery items. E2560
Presented by the estate of the late Penny Copland-Griffiths.
- ‘John Players’ Medium Cut cigarette packet. E2561
Presented by Mrs L. Naser.
- Memorandum of Agreement between George Sparks and Wimborne Gas Company re: laying of gas main, 1930. E2562
Presented by Carol Head
-
Tabletop butter churn from Mill Farm, Corfe Mullen. E2564 Presented by Evan Waterman.
-
Catalogue for auction of land and buildings at Holt, Dorset, 1919. E2566
Presented by C. Hallett.
- Documents and postmarked envelopes relating to Mr G.H. Low of West Borough, Wimborne, 1872-1927. E2567
Presented by Sue Jennings.
-
Two publicity leaflets advertising ‘Eclipse’ Cheese Cutter and Heat-Sealing Press, produced by J.W. Flowers & Co. Ltd, Wimborne. E2568 Presented by Michael Jones.
-
Admission tickets for theatre and film performances at the Tivoli Theatre, Wimborne, 2018-2020. E2569 Presented by Mark Neathey.
-
Advertising material for care homes, housing developments and funeral directors in Wimborne and Ferndown, 2020-2021. E2570 Presented by Mark Neathey.
-
Public information documents and digital images relating to Covid-19 pandemic in Wimborne and surrounding area, 2020-2021. E2571 Presented by Mark Neathey.
-
Two sheets of ‘S’ 1 Unit Motor Car Fuel Coupons, c.1971-73. E2573 Presented by Robert Mabey.
-
Verwood pottery washbowl. E2574 Presented by Julian Richards.
Page 22
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
-
Book, ‘The Unsophisticated Arts’ by Barbara James. E2575 Presented by Mr C. Read.
-
Reproduction photographic print of Hayter & Son butchers’ shop, High Street, Wimborne, c1900. E2576 Presented by Martin Tidd.
-
Wine bottle; price list and publicity leaflet relating to Horton Estate Vineyard, c.2000-2009. E2580 Presented by Anthea Cross.
-
Two framed photographs of Wimborne Boys School football teams, 1935-36 and 1936-37; Framed photograph of Dr Sir Ernest Kaye Le Fleming speaking at a Physical Fitness demonstration at Wimborne, 1939. E2581
Presented by Raymond L. Annereau
- Auction catalogue for houses at Station Road, Wimborne, 1924; Wimborne Minster Parish Magazine (Coronation Issue), May 1937; Street map of Wimborne, Welch and Lock Estate Agents, c1960. E2582
Presented by Mr P. Julian.
-
First edition of ‘The New Stour and Avon Magazine’, 23 April 2021. E2583 Presented by Lindsay Lawrence
-
Souvenir programmes for celebrations in Wimborne, 1937-1977; Road map from ‘The Dorset Guide’, c1930s; Packet of 10 small photographs of Wimborne. E2585 Presented by Peter Dacombe.
-
‘Old Dredge’s Calendar and Almanac for 1895’; Advertising leaflet ‘Mason’s Extract of Herbs’; Seed packet ‘J. Farwell, Nurseryman, Wimborne’. E2587 Presented by Mr R.H. Van Den Akker
-
Programme, ‘St Giles Handbook’, for fete held at Wimborne St Giles, 1909. E2588 Anonymous donation
-
Zip-up, waterproof jacket with Wimborne Town Football Club logo, issued to celebrate the club winning the 1992 FA Vase. E2590 Presented by John Hillman
-
Information leaflet and letter relating to the Covid-19 pandemic, 2020. E2591. Presented by Vanessa Joseph
-
Three photographic prints relating to Frederick Frampton; Printed poem ‘Wimborne Minster’ by B. Eves, 1928. E2597
Presented by Dibbens Solicitors for the estate of the late Frederick Frampton
-
Framed photograph of committee members of Wimborne Conservative Club, 1955. E2600. Presented by Janice Smith
-
White china, two-handled souvenir mug with images of the Minster Church and Wimborne Grammar School, 19th century. E2602 Presented by Jackie Trenchard.
Page 23
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
-
Post-Medieval silver bodkin fragment from Holt, Dorset. E2605 Presented by Gary Smith under terms of Treasure Act 1996
-
Wedding dress and undergarments worn by Constance Olive Richards at her wedding, 12 May 1913; Wedding photograph of Constance Richards and Percy Collins. E2607 Presented by Jill Oliver.
-
Wimborne pottery hand painted vase produced to commemorate 125th anniversary of Bournemouth Water Company, 1988 and Bournemouth Water Company necktie. E2608. Presented by Eileen Carter.
-
Two copper printing blocks relating to the clock in the Minster Church, Wimborne, and the shopfront of local clockmaker Mr Kerridge. E2609 Presented by Chris McKay.
-
Picture postcards depicting scenes of Wimborne, c1900-1950. E2610 Presented by Mary Fairbrother.
-
Photographs and documents relating to Verwood, Horton, Alderholt, Three-Legged Cross and Woodlands. E2612
Presented by the estate of the late Penny Copland-Griffiths
-
Three glass plate photographic negatives relating to the George Inn, Wimborne, c1930s. E2613 Presented by Ron Dyson.
-
Invoice from William Webb, Maltster, Wimborne, 1856. E2615 Presented by John Stevens.
-
Hand painted commemorative plate, Wimborne District Council, 1974. E2616 Presented by Simon Dunk.
-
Verwood pottery material. E2618
Presented by the estate of the late Penny Copland-Griffiths.
-
Programmes for services held at the Minster Church, Wimborne relating to Queen Elizabeth II’s Diamond Jubilee, 2012; Flyer announcing peal to be rung by bellringers in Minster Church to celebrate the 70th anniversary of Queen Elizabeth’s accession to the throne, 2022. E2620. Presented by Eileen Carter.
-
Letter to John Clode informing him he has won the Wimborne Youth Group’s Festival of Britain ‘Spot the Error’ competition, 16 June 1951. E2627. Presented by John Clode.
RETROSPECTIVE ACCESSIONS
Material transferred from museum’s administrative files and undocumented items found in the museum during the redevelopment
- Documents and photographs relating to the Priest’s House Museum, Wimborne, c.1990-2011. E2565
Page 24
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
-
Certificates awarded to the Priest’s House Museum, Wimborne, relating to Museum Accreditation and ‘Wimborne in Bloom’ competition. E2572
-
Shop sign for T.G. Coles Ironmongers, High Street, Wimborne. E2577
-
LP record of choral works sung by the choir of the Minster church, entitled ‘Music from Wimborne’. E2578
-
Photograph of Wimborne Women’s Institute members celebrating coronation of George V, 1937; Programme for performance of play ‘She Stoops to Conquer’ by Wimborne amateur dramatics group ‘The Barbarians’, 1938. E2579
-
Photographs and documents relating to the excavation of the Roman villa at Tarrant Hinton, Dorset. E2584
-
Three street plans/road maps of Wimborne and district, c.1960s. E2586
-
Old insurance policies and valuations relating to the Priest’s House Museum, Wimborne, c.1962-1998. E2589
-
Photographs and documents relating to events at the Priest’s House Museum and in Wimborne, c.1993-2001. E2592
-
Booklet, ‘We Were Here’, stories of black American soldiers in Dorset during the Second World War. E2593
-
Reproduction of ordnance survey map of Wimborne, Second Edition, 1901. E2594
-
Three fragments of wooden packing cases, addressed to ‘Mrs King’, who ran a silk mercers’ business from the Priest’s House, Wimborne, in the 18th century. E2595
-
Photographs and documents relating to events at the Priest’s House Museum and in Wimborne, c.1996-2017. E2598
-
Publicity leaflets for the Museum of East Dorset; Wimborne-Valognes Twinning Association and Haskins Garden Centre, Ferndown. E2599
-
Carrier bag, from Pamphill Butchers. E2601
-
Rosette and programme relating to Verwood Carnival; Programme for play ‘The Gathering’ and booklet on Minster Church, Wimborne. E2611
-
Print, ‘St Cuthburga Illustration’ by Alison Board, 2005; Poster commemorating peal rung by Minster Church bellringers to celebrate award of Heritage Lottery Fund grant to the Priest’s House Museum, Wimborne, 2018; Matchbox, Wimborne Conservative Club. E2617
-
Selection of Wimborne Folk Festival programmes, 1987-2019. E2619
PURCHASES
- Post-medieval silver-gilt pin from Pamphill, Dorset (DOR-72BBCE) Purchased under the terms of the Treasure Act 1996
Page 25
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
LOANS IN
- Clarice Cliff ‘Bizarre’ ceramic plate. E2563 Loaned by Emma Ayling
2 Oil painting of Somerset and Dorset locomotive 2-4-0 No.15A by Hugh Le Fleming. E2596 Loaned by Mr S. Le Fleming
-
Knights Bachelor badge and British Medical Association Gold Medal presented to Dr Sir Ernest Kaye Le Fleming; Book, ‘The Le Flemings of Tonbridge’ by Morris Le Fleming. E2603 Loaned by Mr A. Le Fleming
-
Mounted crocodile specimen; medical instruments and medical books relating to Dr Sir Ernest Kaye Le Fleming. E2604 Loaned by The Quarter Jack Surgery, Wimborne
-
Photographs and ephemera relating to life of Wimborne butcher Ivor J. Rowland. E2614. Loaned by Richard Rowland.
-
Poster, brochure, photographs, and scrapbook relating to celebrations in Wimborne of local and national events including the Millennium, Golden and Diamond Jubilees compiled by Chris Brown. E2622
Loaned by Chris Brown.
-
Photographs, ephemera, and souvenirs relating to Wimborne Town Football Club winning the FA Vase in 1992. E2623 Loan by Jane Sibley.
-
Photographs and newspaper cuttings relating to the Cowdry family of Wimborne. E2624 Loaned by Tony Phillips.
-
Photographs, programmes, and costume relating to the Verwood Carnival. E2625 Loaned by Verwood Heathland Heritage Centre.
-
Commemorative book, invitation, and pincushion for the centenary of the Witchampton branch of the Women’s Institute, 2019. E2626. Loaned by Gwen O’Brien.
LOANS RETURNED
1 Clarice Cliff ‘Bizarre’ ceramic plate. E2563 Returned to Emma Ayling
2 Photographs and ephemera relating to life of Wimborne butcher Ivor J. Rowland. E2614. Returned to Richard Rowland.
- Photographs and newspaper cuttings relating to the Cowdry family of Wimborne. E2624 Returned to Tony Phillips.
Page 26
The Priest's House Museum Collection Trust
Notes to the Financial Statements
Year Ended 31 March 2022
TRANSFERS IN FROM OTHER INSTITUTIONS
No transfers in during this period
TRANSFERS OUT TO OTHER INSTITUTIONS
No transfers out during this period.
Page 27