REGISTERED CHARITY NUMBER: 1070181 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 for Be Prepared - The Story of Scouting Museum Trust incorporating Be Prepared - The Story of Guiding Mcmillan & Co LLP Chartered Accountants 28 Eaton Avenue Matrix Off ice Park Buckshaw Village Chorley Lancashire PR7 7NA
Be Prepared - The Story of Scouting Museum Trust Contents of the Annual Report and Financial Statements for the year ended 31 December 2023 Page Report of the Trustees 1 to 6 Independent Examiner's Report Slatement of Financial Activities Balance Sheet Cash Flow Statement 10 Notes to the Cash Flow Statement Notes to the Flnancial Statements 12 lo 19 Distribution The Scout Association., West Lancashire County Scout Council., Girlguiding UK., Girlguiding North West England., Trust Accounlanl., Museum Webmaster., Board of Museum Trustees., Museum Duty Curators, Irlveslmenl Managers.
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 The trustees present their report wilh the financial statements of the charity for the year ended 310ecember 2023. The trustees have adopted Ihe provisions of 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 IFRS 102) (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The aim of Be Prepared The Story of Scouting Museum Trust ("BPTSSMT"l is lo educate the public on the history and development of the Scout and Guide Movements. We achieve this in 2 ways, by visitors exploring our Scout and Guide Museum located in the grounds of Waddecar Scout Campsite and by access to our website. Either a visit to our museum or a visit to our website are available to all members of the public and are therefore considered to be a public benefit under Section 4 of the Charities Act 2011. Chalrman's Report This is my nineteenth report as Chair of the Trust and the year has been one of consolidation. Our SecretarylAdministrator, Jack McGrath, has so adequately summed up what has happened in 2023 in his Annual Report and on behalf of everyone, I want to pay tribute to him for his incredible work and efforts in taking on this role and for acling as Curator following the sudden death of Michael Loomes, our founding Trustee. Thank you, Jack. I mentioned in my report last year what was planned for 16 April 2023 with regards lo the burial of M ichael's ashes, in a casket, just outside the main front door of the museum which he had requested in his will. I want to thank the Waddecar Managemenl Committee for facilitating and agreeing lo this. At the same lime, the various arrangements lo provide a permanent recognition of Michael and his brother Ron's devoted service over many years took place. These plans came to fruition and Jack has referred to them in his "significant activities" report. I want lo pay tribute to all the Trustees who have worked so hard to ensure that we have moved forward. The Trustees and the other Duty Curators are lo be congratulated on staffing the Little Gem every Saturday from April onwards when we were able to open and allow Scouts & Guides as well as members of the public lo see our wonderful collection. Many of them have brought with them skills and knowledge which have been so beneficial. At the beginning of last year, when we rediscovered and started to record eleclroni¢ally various arlefacts and memorabilia, it became apparent that little attention has been given lo consetvation. We all had some limited knowledge so we invited Jenny Truran, the Lancashire County Council Museum Conservation Manager, to visit our Museum and prepare a report on what we must do lo preserve our collection. As a result of her report, all the trustees and duty curators will attend a full day's workshop at the Museum or$ 28 May 2024 to enhance our skills One matter which the Trustees have addressed is the donation of artefacts to the museum Having implemented a policy and procedure whereby, before we accept any item, a form will need to be filled in. A small group of Trustees will make the decision whether to accept the item or not having checked lo see how many, if any, we already have, The museum had become inundated with donations just being brought up and deposited and we have become overwhelmed with arlefacts and memorabilia due to removing everything from Michael's house and bringing it up lo the Museum. We have made considerable progress to identify and record electronically the many items in the museum but it is a massive job and we are hopeful that task will be completed this coming year. David Thori7ton, Chair of TrLislees Page 1
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 OBJECTIVES AND ACTIVITIES Significant and Charitable activities l am delighted to be able to report as the Secretary of the Trust sorne of our more notable and significant activities and events for the year. The Museum, located at Waddecar Scout Campsite and known as 'Little Gem" re-opened to visitors on 1 April 2023 following the Trustees decision to close at the end of October 2022. The decision to temporarily close the museum, over what is the quieter winter period, was not taken lightly and was done in order to allow us to continue the good work Michael Loomes was doing in thoroughly cataloguing all of the items we have in the Museum and it was felt that this would be best achieved with the museum closing and mitigating any distractions. The task of collating and cataloguing and erisuring we know where to find items is still ongoing and it is anlicipaled that this will take al least another year. Once again the Trustees, Duty Curators, and other friends who are helping to keep the Museum going and assisting in the very onerous task of the 'stock take, deserve a special mention. There have also been some minor changes to some of the displays and we hope to make further changes throughout 2024. On Sunday 16 April 2023 the Annual Waddecar Thanksgiving Day was held in the Chapel at Waddecar which was followed by the internment of Michael Loomes, ashes just outside the main door of the Museum by the Rev Keith Fenton, a former Museum Trustee, The UK Chief Commissioner for Scouts (Carl Hankinsonl, a lifelong friend of Miohael's, then uncovered a bench outside the Museum dedicated to Michael and his brother Ron followed by the unveiling of the permanent memorial to Michael in the foyer of the Museum which contains his MBE, Silver Wolf and Paul Harris Award from the Rotary Club and includes a resume of Michael's Scouting and Voluntary works within Lancashire. Our Trustees and Duty Curators have supervised the building when it has been open to visitors and up to closing on 16 December 2023 for Christmas and the New Year, we had received 1,386 visitors. We are grateful to all our Duly Curators for their continued support in ensuring the Little Gem has remained operational during this time. David King has continued to help by providing the Cleaning of the Little Gem and other support. We are also grateful for the help and support of members of the County Exe¢ulive Committee, Waddecar Management Committee, County Staff, members of the Waddecar Service Crew and other volunteers who have continued lo help the Trust lo achieve ils aims. The Friends of the Trust are also thanked for their annual contributions and we look forward to seeing as many as possible at our next Friends open Day The following entries in the Visitors, Book represent a cross section of the comments made by some of the many enthusiastic visitors the Little Gem has welcomed in 2023. Visitors have come from as far afield as New Zealand and Germany as well as from places like London, Hampshire, Oerbyshire, Yorkshire, Cambridgeshire, Manchester and Southporl and locally by Groups from Wesl Lancashire Scout Districts. In addition, visitors from Girlguiding have attended as well as several local Trefoil Guilds. 'Really, really cool, would definitely come again. Charlie Robins Iscoutl - Greenmount Scouts 'Fantastic collection Will Burnham - DC Alderley & Kn ulsford Scout District 'Inlrigued, fascinating, interesting, Hayden Charmer (Scoull 1st Weaverham Sea Scouts 'Thank you so much for showing us around and it's a wonderful place - Schoop family from Germany 'Thank you for an amazing Museum the Cubs enjoyed it, Alexandria Edgar - CSL 6th HOlCh cub Scout Pack 'Had a wonderful tour around this beautiful Museum, mind blowing, Davidson Baptiste Southgate Scouts 'A very good museum with very knowledgeable volunteers, 3rd Swinlon Brownies 22nd Significant events lin chronological orderl in this, our twenty-third full year of operating the Little Gem include; 16 April Waddecar Thanksgiving Day followed by the internment of Michaels, ashes at the Museum, 27 June Visit by Christine Schoop and family from Germany, 6 July Visil by Fund Raisers doing the Great Woggle JOGLE11st Chandlersford Scout Group), 15 Aug Visit by Ann Duncan from New Zealand and Lancaster Trefoil Guild, 24 Sept Friend's Day followed by a Trustees Meeting Page 2
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 Significant and charitable activities continued As usual throughout the year there have been many donations, both of money and artefacls which will benefit the Museum in years to come. The Museum is still requesting that anyone with items they feel may be of use to the Collection to contact us first and not just 'drop' them off. At times we can continue to be overwhelmed by the offer of items to be donated to the museum and there are still many items that need to be catalogued checked over and going forwards we do realise that we may need to be selective in what we accept and keep. However. all the trustees do very much appreciate all the kind offers of ilems lo be donated and we will endeavour to take what is practicable to tell as much as we can of The Story of Scouting Jack McGrath, Secretary Public benefit The trustees confirm that they have referred to Ihe guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives. ACHIEVEMENT AND PERFORMANCE Investment performance Following the passing of Michael Loomes the Iruslees became aware that the charity would be receiving a su bstantial legacy from his estate. During the early parl of the year the Iiuslees sought professional advice as to how best invest these funds to generate a relufn whilst at the same lime protecting their value. A number of trustees both spoke to and met with several advisers and investment managers and following the receipt of the legacy in the second half of the year the trustees have engaged with Close Brothers Asset Management I CBAM") lo manage the portfolio of investments. After much consideration, the trustees have deposited some £875,000 with CBAM to invest in such securities as they see fit in accordance with the charity's investment policy. Given the short time-frame from the date of the initial investment activity to the year end there has been little overall movement in the value of the portfolio in those months. Internal and external factors There are many internal and external factors which will affect the future performance of the charity. The Trustees are aware of these and meet regularly to discuss them and plan for possible outcomes that might adversely affect the performance of the investments or physical access to the museum for example. FINANCIAL REVIEW Principal funding sources Followin9 the passing of Michael Loomes in 2022 the charity was bequeathed a su bslantial parl of his estate. The legal formalities of this were resolved during the year resulting in the charity receiving £886.000. In the year, the charity generated income overall of some £896,000 which includes the above legacy compared to total income of some £19,000 in 2022, In summary the core income streams and cost base of the charity's activities remain unchanged in most years, bul the resu Ils for this year are dramatically influenced by the legacy and investment returns. The notes to the financial statements provide a more detailed analysis of the incoming resources and expenditure. Page 3
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 FINANCIAL REVIEW Investment policy and objectives The Trustees have the authority to invest funds in such stocks, shares, investments, property or bank deposits in the UK as they see fil and in accordance with the Governing document and Charities legislation. The Trustees consider social, environmental and ethical criteria when managing the funds of BPTSSMT. They would not wish to hold any investments or deposits that knowingly could be to the detriment of the Charity, although they are mindful that one of their prime duties is a financial one. The Trustees have agreed to pursue a policy of low to medium risk lo protect the capital value of the investments and bank deposits held as investments. The Trustees appreciate that this will be unlikely lo produce a substantial monetary return of income for the charity bul do not wish to subject the capital available to the unpredictability of the markets. At the year-end, the charity holds investments of some £1,068,00012022'. £145,000). This is split as £913,000 {2022.. £nil} in tradeable securities and £155,000 (2022.. £145,000) cash held on medium term bank deposits. In add ition, the charity holds £68,000 (2022.. £82,000} of cash readily available on current account to meet the day to day running needs of the charity. The Trustees have engaged CBAM to act as investment managers who operate within guidelines agreed with the Trustees. The performance of the portfolio and the investment managers is reviewed against the investment objectives on a regular basis. Reserves pollcy Following the receipt of the significant legacy in the year the charity has re-visited its, reseeS policy and will do so again in the near future, This will be done in accordance with our future plans and spending budgets., more of which later. The charity's unrestricted funds are held in the General Fund as set out in the financial statements. Amounts in this fund are primarily tied-up in investments and bank deposits lo generate income. At the year-end, the unrestricted funds in the balance sheet are categorised as follows, 2023 2022 Properly, fixtures and equipment used in the museum Heritage assets and items of h islorical influence Amounts sel aside in income generating assets, being the investment portfolio and bank deposit accounts 223,793 162,236 221,681 154,496 1,068,229 145,140 Assets'tied-up in generating income and used in the museum Balance of other reserves available to cover general ru nning costs 1,454,258 68,529 521,317 82,043 Unrestricted Funds 1,522,787 603,360 Page 4
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 FUTURE PLANS The Trustees are in the process of formulating both medium and long term future plans. They are mindful of the value of the legacy that has been left to the charily and are conscious of what Michael Loomes would have liked to see that charity achieve going forwards. Without going into too much detail the trustees will look to., increase the access times of when the museum is open., better catalogue all of the heritage items the charity holds., greatly increase the content and narrative of the website., offer audio and visual presentation of the museum contents., invest in new IT systems and display cabinets l equipment at the museum. In doing this the trustees recognises that the charity will need to employ paid staffing resources which will be funded from the income generated by the investments. The trustees are also mindful that the above can't be done overnight" and recognise some of these are more akin to medium rather than short term goals. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by ils governing document, a deed of trust and constitutes an unincorporated charity. BPTSSMT is registered as a charity in England number 1070181, established by Trust in 1998 which has subsequently been amended l updated in both 2010 and 2012. Organisational structure The Board of Trustees meet regularly over the year to monitor and action the performance of the charity and lo plan ahead. The day to day running of the museum is delegated to numerous trustees and duly curators as lime allows throughout the year. The trustees also acknowledge the assistance provided by West Lancashire County Scout Council ("WLCSC"l in the operation of the Waddecar Scout campsite where the museum is located. Induction and training of new trustees When recruiting, inducting and training new trustees, the charity follows the detailed procedures as set out in various Charity Commission publications so as to ensure the safeguarding of the charity's assets and reputation and to ensure best practice and also comply with the requirements of The Scout Association. Related partles The charity's museum is located in the grounds of Waddecar Scout Campsite, which is owned and run by WLCSC, who charge the charity a nominal £1 per annum ground rent. Certain of the charity's trustees have at one time or another also been trustees of WLCSC. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1070181 Principal address Little Gem clo Waddecar Scout Campsite Snape Raike Lane, Goosnargh Preston Lancashire PR3 2EU Page 5
Be Prepared - The Story of Scouting Museum Trust Report of the Trustees for the year ended 31 December 2023 Trustees Founder Michael Loomes MBE, 1938 - 2022 Trustees David Thornton Jack McGrath Pal Brandwood Peter Bird Mike Glover Keith Jamieson Colin Knightley Elaine McGougan Cheryl Sadler Chair Secretary Treasurer Duty Curators Barrie Bevan Phil Wheatley Alan Shipway Anne Shipway Cyril Crossley Marjorie Crossley Other off icials Peter Sturgess - Webmaster Other details Website Email enquiries - www.litllegem.org.uk info@liltlegem.org. uk Independent Examiner Mcmillan & Co LLP Chartered Accountants 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA Investment managers Close Brothers Asset Management 80 Mosley Street Manchester M2 3FX Approved by order of the board of trustees on 27 March 2024 and,sign d on ils behalf by.. J Thornton Chair of Trustees J McGbth Secretary Page 6
Independent Examiner's Report to the Trustees of Be Prepared - The Story of Scouting Museum Trust Independent examiner's report to the trustees of Be Prepared - The Story of Scouting Museum Trust I report lo the charity trustees on my examination of the accounts of Be Prepared The Story of Scouting Museum Trust (the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515)(b) of the Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act., or the accounts do not accord with those records, or the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concefns and have come across no other mallers in connection wilh the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. DA Rogerson FCCA, BFP, ACA Mcmillan & Co LLP Chartered Accounlanls 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA 27 March 2024 Page 7
Be Prepared - The Story of Scouting Museum Trust Statement of Financial Activities for the year ended 31 December 2023 2023 2022 Unrestricted Unrestricted Funds Funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 886,619 14,151 Other trad ing activities Investment income 727 8,272 4,300 704 Total 895,618 19,155 EXPENDITURE ON Raising funds 1,775 Charitable activities Museu m general activities 20,121 12,891 Total 21,896 12,891 Net gains on investments 45,705 7,384 NET INCOME 919,427 13,648 RECONCILIATION OF FUNDS Total funds brought foNard 603,360 589,712 TOTAL FUNDS CARRIED FORWARD 1,522 787 603,360 The notes form parl of these financial statements Page 8
Be Prepared - The Story of Scouting Museum Trust Balance Sheet 31 December 2023 2023 2022 Unrestricted Unrestricled Funds Funds Notes FIXED ASSETS Tangible assets Heritage assets Investments 10 223,793 162,236 912,641 221,681 154,496 12 1,298,670 376,177 CURRENT ASSETS Debtors Cash at bank and in hand 13 2,480 223,557 227,183 226,037 227,183 CREDITORS Amounts falling due within one year 14 (1,9201 NET CURRENT ASSETS 224 117 227,183 TOTAL ASSETS LESS CURRENT LIABILITIES 1,522,787 603,360 NET ASSETS 1,522,787 603,360 FUNDS Unrestricled funds 1,522,787 603,360 TOTAL FUNDS 1,522,787 603,360 The financial statements were approved by the Board of Trustees and authorised for issue on 27 March 2024 and were signed on its behalf by.. DJ Thornton . Trustee KM Jamie Trustee on P Brandwood Trustee The notes form part of these financial statements Page g
Be Prepared - The Story of Scouting Museum Trust Cash Flow Statement for the year ended 31 December 2023 2023 2022 Notes Cash flows from operating activities. Cash generated from operations 860,884 1,8241 Net cash provided byl (used in) operating aclivities 860,884 1 ,8241 Cash flows from investing activities. Purchase of tangible fixed assets Purchase of heritage assets Purchase of fixed asset investments Sale of fixed asset investments Sale of investment properly Interest received Dividends received 15,831) 115) (965,338) 90,677 7,725 6,567 1,705 (9691 {441 7,384 704 Net cash (used in)Iprovided by investing activities 864 510) 7,075 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reporting period {3,626) 5,251 227,183 221,932 Cash and cash equivalents at the end of the reporting period 223 557 227,183 The notes form part of these financial stalements Page 10
Be Prepared - The Story of Scouting Museum Trust Notes to the Cash Flow Statement for the year ended 31 December 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Gain on investments I nterest received Dividends received Heritage assets revaluations Increase in debtors Increase in creditors 919,427 13,648 3,719 (45,705) {6,567) {1,705) {7,725) (2,480) 1,920 17,384) 17041 17,3841 Net cash provlded byl (used in} operations 860,884 1,824) ANALYSIS OF CHANGES IN NET FUNDS At 111123 Cash flow At 31112123 Net cash Cash al bank and in hand 227,183 223 557 227,183 3,6261 223,557 Total 227,183 3,626 223,557 The notes form part of these financial statements Page11
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements for the year ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 '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 IFRS 1021 {effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments wh ich are included at market value, as modified by the revaluation of certain assets. I n preparing the financial statements, there are no material uncertainties about the Charity's ability to continue as a going concern and they are presented using the Pound Sterling 1£) and the amounts in the financial statements have been rounded lo the nearest £1. Income All income Is recognised in the Statement of Financial Activities once the charity has entillemenl to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Vvhere costs cannot be d irectly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 10 % on reducing balance No depreoialion is provided on the charity's long leasehold buildings as the trustees consider that the lives of these assets are so long and residual values, based on prices prevailing al Ihe lime of acquisition, are suff iciently high that any depreciation would be immaterial. Provision is made in the statement of financial activities in the event of any permanent diminution in the value of the property. Fixed asset investments Listed investments are valued al their mid-market price as at the close of trading at the year-end date. Any gain or loss on revaluation at the end of the accounting period is taken to the Statement of Financial Activities. Heritage assets The charily holds and conserves a large number of artefacls and assets of historical and artistic interest relating to both the Scouting and Guiding movements. Heritage assets that have been acquired have been capitalised at their historic cost and are then subject lo periodic revaluations. Assets which have been donated are included al their market value. The trustees will seek to establish the market value in the first instance by reference to the market prices of similar artifacts and will consider the same when conducting periodic revaluations. Should this price to be not practicable, for instance due to the unique nature of the arlefacl, then the trustees will seek assistance from a suitably qualified expert Taxation The charity is exempt from tax on ils charitable activities. Page 12 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 ACCOUNTING POLICIES - continued Fund accounting. Unreslricled funds can be used in accordance with the charilable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial slalemenls. Financial instruments Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried al cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors and accruals are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otheNise and then the liability is measured at the present value of the future obligations discounted at a market rale of interest. Realised gains and losses. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value al the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. DONATIONS AND LEGACIES 2023 2022 Donations Gift aid Legacies In memoriam donations 283 132 886,204 315 12,241 1,595 886,619 14,151 OTHER TRADING ACTIVITIES 2023 2022 Badge, book and other sales Friends, subscriptions Sale of surplus donated and heritage items Central and local government support grants Miscellaneous income 214 268 208 225 291 930 2,667 187 37 727 4,300 Page 13 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 INVESTMENT INCOME 2023 2022 Dividends received Bank interest 1,705 6,567 704 8,272 704 RAISING FUNDS Investment management costs 2023 2022 Portfolio management 1,775 CHARITABLE ACTIVITIES COSTS 2023 2022 Premises operating costs Insurance Repairs, maintenance and cleaning IT, websile and office costs Professional fees Other ad ministration costs Depreciation 2,898 3,985 2,861 2,852 2,474 1,332 3,719 5,319 2,907 1,857 2,045 763 20,121 12,891 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses During the year 2 truslees12022. 2 trusleesl were reimbursed lor parl of their expenses arising from allending meetings and carrying out other duties amounting lo £34512022,. £42). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 14,151 Other trading activities Investment income 4,300 704 Total 19,155 Page 14 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued EXPENDITURE ON Charitable activities Museum general activities 12,891 Net gains on investments 7,384 NET INCOME 13,648 RECONCILIATION OF FUNDS Total funds brought forward 589,712 TOTAL FUNDS CARRIED FORWARD 603,360 RECOGNISED REALISED AND UNREALISED GAINS OR LOSSES The realised and unrealised gains or losses included in the financial statements are as follows., 2023 2022 Realised gains I Ilossesl Heritage assets Listed investments 2,041 2,041) Unrealised gains l {lossesl Heritage assets Listed investments 7,725 40,021 7,384 47,746 7,384 Total gains l (losses) 45,705 7,384 Page 15 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 10. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Totals COST At 1 January 2023 Add itions 190,320 31,361 5,831 221,681 5,831 Al 31 December 2023 190,320 37,192 227,512 DEPRECIATION Charge for year 3,719 3,719 NET BOOK VALUE At 31 December 2023 190 320 33,473 223,793 At 31 December 2022 190,320 31,361 221,681 11. HERITAGE ASSETS Total MARKET VALUE At 1 January 2023 Additions Appreciation and revaluations 154,496 At 31 December 2023 162 236 NET BOOKVALUE At 31 December 2023 162,236 At 31 December 2022 154,496 During the year, the trustees have considered the market value of the heritage assets and the revaluation surplus for the year, included in the slalement of financial activilies, was £7,725 {2022.' £7,384). The historic cost of heritage assets is £59,584 {2022. £59,569) and the aggregate of the cu mulalive revaluations included in heritage assets is £102,65212022. £94,927). The current value of exhibits is based on what mig ht be obtained at auclion, given a sufficient period of marketing etc. and also having consideration for inflation, as measured by the CPI index, on the assets held by the museum. Page 16 continued.
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 12. FIXED ASSET INVESTMENTS 2023 2022 Shares Cash funds held by investment managers for future dealings 897,581 15,060 912,641 Additional information as follows.. Listed investments and securities MARKETVALUE Additions Disposals Aggregate realised and unrealised gains and (losses) on investments 950,278 {90,6771 37,980 At 31 December 2023 897 581 NET BOOK VALUE At 31 December 2023 897,581 Al 31 December 2022 Other assets classed as investments.. 2023 2022 Cash funds held by investment managers for future dealings 15,060 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors 2,480 Page17 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 14. CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other creditors 1,920 15. MOVEMENT IN FUNDS Net movement in funds At 31112123 At 111123 Unrestricted funds General fund 603,360 919,427 1,522,787 TOTAL FUNDS 603,360 919,427 1522 787 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 895,618 121,896) 45,705 919,427 TOTAL FUNDS 895,618 21,896) 45,705 919,427 Comparatlves for movement in funds Net movement in funds Al 31112122 At 111122 Unrestricted funds General fund 589,712 13,648 603,360 TOTAL FUNDS 589,712 13,648 603,360 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 19,155 {12,8911 7,384 13,648 TOTAL FUNDS 19,155 12,8911 7,384 13,648 Page 18 continued...
Be Prepared - The Story of Scouting Museum Trust Notes to the Financial Statements - continued for the year ended 31 December 2023 15. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31112123 At 111122 Unrestricted funds General fund 589,712 933,075 1,522,787 TOTAL FUNDS 589,712 933,075 1,522,787 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 914,773 (34,787) 53,089 933,075 TOTAL FUNDS 914,773 34,787) 53,089 933,075 16. RELATED PARTY DISCLOSURES During the year, the charity paid £2,84912022.. £5,319) to WLCSC for premises costs for the running of the museum. The Little Gem museum is located within Waddecar Scout Campsite which Is owned by WLCSC and the amounts paid were al a normal, commercial rate. This page does not form parl of the statutory financial statements Page 19