OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity Registration No. 1082215 Company Registration No. 1350939

Annual Report & Accounts

for the year ended 31 December 2020

www.aim-museums.co.uk

Association of Independent Museums

Contents

Page
Reference & Administrative Information 3 – 4
Trustees' Report 5 – 16
Statement of Trustees’ Responsibilities 17
Independent Auditors' Report 18 – 21
Statement of Financial Activities (SOFA) 22
Balance Sheet 23
Statement of Cash Flow 24
Notes to the Accounts 25 – 43

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Reference & Administrative Information

The Trustees present their Annual Report & Accounts for the year ended 31 December 2020, in accordance with the Companies Act 2006. The Accounts have been prepared in accordance with the accounting policies set out in Note 1 of the Accounts and comply with the Charity’s governing document, applicable law, and the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’, 2015. The Charity qualifies as a small entity under section 383 of the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 and a Strategic Report is therefore, not required.

Trustees / Directors: Charles Brien Claire Browne Mhairi Cross Mark Francis Rhiannon Goddard Brian Gorski MBE Nathaniel Hepburn (appointed 6 May 2021) Emily Hope (appointed 6 May 2021) Andrew Lovett (Chair) Susan Okokon Marilyn Scott MBE (Vice Chair) Caroline Worthington (Vice Chair) Director (Executive): Lisa Ollerhead (from 1 June 2021) Hon. President: Sir Neil Cossons OBE Hon. Vice Presidents: Sam P Mullins OBE Michael Day CVO Matthew Tanner MBE Company Incorporated: 1 February 1978 Charity Registration: 30 August 2000 Charity Registration Number: 1082215 Company Registration Number: 1350939 VAT Registration Number: 355372196 Registered and Contact Office: AIM Office c/o National Waterways Museum South Pier Road Ellesmere Port Cheshire CH65 4FW United Kingdom

3

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Independent Auditors: Crowe UK LLP
Chartered Accountants
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG
United Kingdom
Principal Bankers: Barclays Bank plc (Barclays Corporate)
Chesterfield
Derbyshire
S40 1LS
United Kingdom
Aldermore Bank plc
1stFloor, Block B Western House
Lynch Wood
Peterborough
PE2 6FZ
United Kingdom
Telephone: +44 (0) 333 305 8060
Email: aimadmin@aim-museums.co.uk
Website: www.aim-museums.co.uk
Social Media: @Aimuseums

4

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Chair’s Review of the Year

Introduction

After a short interregnum during 2019/20 when I was asked by the Board to chair meetings, I was honoured and delighted to be elected Chair on a longer-term basis by the Board at its meeting at the Tower of London (The Fusilier Museum) on 25 February 2020.

The UK boasts some of the best museums and heritage experiences in the world. They share a rich range of stories, collections and historic sites with as many people as possible, in fun, exciting and relevant ways. Many of these organisations are independent-thinking, ready to try new things, take risks, resourceful and enthusiastic. AIM supports and champions independent museums, galleries and heritage organisations in the UK – helping them to achieve their purposes and ensuring their needs are recognised and addressed by policy makers, funders and other organisations working in the sector. Our members are also social entrepreneurs, who create jobs and make a valued contribution to the economic health of their communities and are often an important part of local tourist economies.

AIM helps heritage organisations prosper. We believe that museums must prosper – grow fit and healthy – to fulfil their purposes and demonstrate the relevance and importance of our heritage to everyone, so that it is preserved and inspires all our futures, as well as allowing a better understanding of our place in the world, of patterns of behaviour and why change happens.

Continuing Impact of COVID-19

Of course, and with great sadness, 2020 was dominated by the widespread impact of COVID-19. There will be very few of us who have not been touched by the deadly effects of the virus, and I offer my condolences to the families and friends of AIM members who have suffered. Increasingly the indirect impacts of COVID19 are becoming clear, with issues such as delayed treatments creating a long legacy for some people, their families and friends.

I am preparing this review of 2020 in the spring of 2021, as we hope that the trajectory of data continues to be positive; allowing museums to reopen in Step 3 of the Government’s Roadmap on 17 May. As I do this, an article written for The Business Influencer (published by Nachural in the West Midlands) has just been published. It is about the experience I had leading the Black Country Living Museum during the worst of the pandemic in the UK, but I know it is a story many of you will recognise and have experienced yourselves; a little of which I reproduce here:-

What a deep, unsettling and cataclysmic difference a few months can make.

I lead a museum. Having doors that we are allowed to open, to welcome visitors, is what we do. Anything short of that is always going to be disappointing – for us and the people who have come to value us as an important part of their lives.

It was telling in itself that I was preparing our annual review six months later than would normally be the case. That wasn’t just because our priorities had taken our minds and energies elsewhere; rather it had been necessary to delay approval by the Board and sign-off by our auditors, until we had a clearer and more favourable picture of our future, including as a ‘going concern’. And you don’t get more fundamental than that. The situation confronting the Museum – the worst in its 42 year history – was being repeated across the UK and to some extent that was a relief. I say relief, because we learnt from each other, especially other museums, and harvested support from our friends and extensive networks. Initially, and naturally, we were concerned with looking inwards, to our own immediate situation.

5

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

However, as time went on the national impact became stark, and our attention started to include lobbying for significant external support to ensure our survival. That said, we took strength from peoples’ support for the Museum. It reminded us how important the Museum is, especially, but not limited, to the community of the Black Country.

The financial impact on the Museum is brought into relief by the scale of tax-payer support that it has been essential to secure in order to see a viable future.

Despite all this, we remind ourselves that prior to COVID-19, the Museum was successful, enjoyed a large and loyal following, was financially strong and has been better placed than many to ride out these challenges and once again have its eyes on fulfilling its potential and provide a positive impact to peoples’ lives.

Tomorrow I get my covid vaccination at Black Country Living Museum. Where else would I go?

The reference I made to tax-payer support is obviously hugely important, and whilst the measures haven’t saved every job amongst our members, it has had a very positive impact on museums of all sizes right across the United Kingdom. The UK Government, Arts Council England, National Lottery Heritage Fund, Historic England, Scottish and Welsh Governments, and the Northern Ireland Executive deserve much credit for recognising the financial need and quickly putting in place efficient grant-making arrangements. Together with the Job Retention Scheme, and the small business support grants administered by local authorities, the combined force was impressive and vital. Avoiding job losses is not only important at an individual or personal level, but means our organisations are in a far stronger position from which to bounce back.

Recently I recorded a video thanking officials at the UK Government’s Culture Department for everything they had done during the pandemic. One of the things I said was, “I can imagine that you often feel there is a disconnect from the organisations that you have an impact on. That the policy levers that you enact are in slow motion or even broken. Not so on this occasion………”

The UK Government’s £1.56bn Culture Recovery Fund has perhaps been the most prominent financial support, and I was pleased that AIM was one of the dependable and clear voices heard by Government during its conception. I particularly want to mention AIM’s constant and effective team-working with our friends at National Museums Directors’ Council, when lobbying for financial support. AIM characterised the alternative – at this point of crisis – a messy fire-sale of assets, peoples’ lives and their communities. The words cut through.

Arts Council England was also quick to respond by diverting existing funds (including use of its reserves) to tackle immediate cash flow problems. And as the crisis unfolded funding was also found to support existing capital projects hit by COVID-19 delays and extra cost, including through the Government’s Capital Kickstart Fund.

It was a hectic, often scary time for all of us, but with a successful vaccination rollout, there does now seem to be an end in sight, including seeing a viable future for our organisations.

Summary of Achievements, 2020

Flexible, proactive and practical, AIM’s work has changed continuously in response to the impact of the pandemic. Below are just some key activities delivered in a challenging year.

6

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Representation and Advocacy

Grant Distribution

Governance

Community Building and Sharing Best Practice

7

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Workforce Development

AIM Staff and Resources

Arts Council England – Support for AIM

As an Arts Council England Sector Support Organisation (SSO), an annual investment of £300,000 allows AIM to deliver on specific objectives in our Business Plan 2018-2022, notably:

8

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

The SSO funding allows AIM to respond to members’ need to deliver effective programmes whilst also building our own organisational resilience. Key areas of work for AIM over the funded period:

AIM welcomes the opportunity to work in partnership with other ACE supported Sector Support Organisations such as the Audience Agency, Association for Cultural Enterprises, Collections Trust, Culture 24 and particularly the opportunity to continue to develop our services and resources to complement the work of our long-term close partners, the regional museum development providers.

My Thanks

I am delighted to have this opportunity to thank the AIM Board, and to acknowledge the support of all our many funders for their support, generosity and commitment to AIM. In particular I want to thank Arts Council England, Biffa Award, The Pilgrim Trust and Welsh Government for their significant financial support of our programmes during 2020. Without this support we simply could not achieve everything we do.

Thanks also to Victoria Wallace (Hon. Secretary) who retired from the AIM Board in 2020, after seven exemplary years of service to the Board and our members. I particularly want to thank Victoria was supporting the Chair transition at the beginning of the year.

Finally, I want to express very grateful thanks to Emma Chaplin and the staff team Matt Smith, Margaret Harrison, Helen Farress, Justeen Stone and most recently, Catrin Bell, for their highly effective work in service of our members, and to support the AIM Board.

And on the occasion of Emma Chaplin, AIM Director, stepping down from the role on 31 March 2021, I am delighted to share a little of my letter to Emma, “It has been a privilege to work alongside you since taking-up the Chair last summer. You are right to be proud of what you have achieved for the sector. No one has achieved more. You have also developed the organisation to great effect, and brought-on some great new staff. My life as Chair and that of the Board – during some testing times – has been an awful lot easier and more impactful because of your experience, candour, approach, determination and good humour. Thank you.”

We warmly welcome Lisa Ollerhead as AIM’s new Director, and I am excited by the new chapter Lisa’s arrival brings, alongside new members of the Board, Nathaniel Hepburn and Emily Hope, with more Board appointments expected during the course of 2021.

Andrew Lovett

Chair

9

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Governing Document

The Association of Independent Museums (AIM) is a company limited by guarantee, without share capital and governed by its Memorandum and Articles of Association dated 1 February 1978, as amended by resolution at the AGM on 14 June 2012. None of the model articles in the Companies (Model Articles) Regulations 2008 applies to the company. The company was registered as a charity on 30 August 2000. The Objects of the Charity are set out in this report. Throughout this Annual report the company is referred to as ‘the Charity, Association or AIM’.

A review of AIM’s Memorandum and Articles of Association was initiated by Trustees in 2019 as part of ongoing governance good practice, with proposed changes reported and approved at the EGM on 10 December 2020.

Trustees / Directors

The trustees of AIM for the purposes of charity law are also its directors for the purposes of company law, and throughout this report are collectively referred to as ‘the Trustees’. Those Trustees who served on what is now called the Board (previously the Council) during the period of this review were:

First Appointed

Charles Brien 19 April 2018 Claire Browne 10 September 2014 Mhairi Cross 19 April 2018 Mark Francis 19 April 2018 Rhiannon Goddard 19 April 2018 Brian Gorski MBE 19 April 2018 Andrew Lovett 23 June 2016 Susan Okokon 19 April 2018 Marilyn Scott MBE 20 June 2013 Victoria Wallace 20 June 2013 (retired 25 February 2020) Caroline Worthington 20 June 2013

Recruitment and Appointment of Trustees

Trustees are recruited from the independent museums sector, and other complementary industries. All trustees are appointed based on their experience, skills and empathy with AIM’s vision. Vacancies are advertised in the AIM Bulletin, social media channels and circulated amongst the broad network of our members to ensure a wide coverage across the UK. The trustees recognise and accept the need to refresh and develop the Board on a regular basis as an integral part of good governance, to maintain objectivity and utility, and to be representative of the UK in the 21[st] Century. At an Extraordinary General Meeting held on 10 December 2020, Members approved revised Articles of Association; the first comprehensive review since the Association was established, including changes to the previous categorisation of appointed Trustees.

Trustee Induction and Training

The Trustees of the Association are supplied with induction information on joining and are provided with further guidance and training notes as required and are regularly reminded of their responsibilities as Trustees. Recently, a buddying system has been introduced for new trustees. New trustees are provided with a wide range of information, including the Charity Commission’s publication, The Essential Trustee and have an induction meeting with the Chair and Director. New trustees are also provided with a copy of a

10

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

guide which sets out the duties and responsibilities of being a trustee and the contribution they are expected to make during their term of office.

The Association is developing a trustee development programme to enhance their understanding of AIM. The development programme will focus on: (i) the value Trustees bring to the organisation; (ii) the unique qualities of a charity; (iii) legal responsibilities and the essential of company structure; (iv) what it is smart to concentrate on; and (v) the signs of dysfunction. Trustees are kept up-to-date with reports, briefings, social media channels and sector newsletters about relevant issues, best practice and developments affecting the museums and cultural sectors, as well as changes to charity and/or company regulation. The Board is exploring the use of an annual self-assessment questionnaire to help gauge its effectiveness as the Association’s governing body.

The Trustees are aware of the Charity Governance Code, now in its 12[th] year, including the most recent third edition. A review will be undertaken of this guidance to produce recommendations and an action plan for the coming year, to ensure the charity takes positive steps towards working in-line with the code in all ways where it is practicable to do so. The charity recognises and accepts that the code represents best practice for charitable organisations.

The Board works to ensure compliance with its legal duties to:

In addition, it is recognised and vital that the Board:

Governance Structure

The Trustees met five times (latterly on-line) during the period of this review, as the Board (non-executive) of the Association of Independent Museums, to consider strategic matters, monitor financial progress and performance against forecasts, consider policy and other significant developments and to monitor organisational risks. The Charity held its AGM on 19 June 2020. Members of the Board are drawn from, and elected by, the membership at General Meetings; serving a maximum of three terms of three years. The Board thereafter elects from their number (at its discretion) the Officers, including a Chair and Vice Chair(s). The Board has put in place such sub-committees necessary to govern the organisation, including a number of grant-awarding committees. The Board approves the membership of the Association.

AIM’s Director (the organisation’s most senior member of staff) manages and develops AIM with his/her staff and is accountable and reports to the Board. Together with the Trustees, the Director and Head of Communications and Programmes Manager, are considered the Key Management Personnel, as defined by Financial Reporting Standard 102. The Director is not a member of the Board, but attends at the invitation of the Board.

11

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Charitable Objects

As part of revising the Articles of Association (approved at an EGM 10 December 2020):

AIM summarises these legal Objects into the phrase, Helping Heritage Organisations Prosper.

The Origins of AIM

The Association of Independent Museums is a membership organisation, established in 1977 to represent the interests of a booming independent museums sector. In the 1970s and 1980s new, thematic museums began to spring-up, driven by the enthusiasm of individuals and communities fascinated by the history on their doorstep, who decided to take things into their own hands and save it, resulting in an extraordinary blossoming of a new type of museum – the Independents.

In those very early days, a few people involved with this burgeoning of new museums got together to organise a mutual support club. Sir Neil Cossons (then Director at Ironbridge Gorge Museums, Shropshire), met with David Sekers (then at Gladstone Pottery Museum) and came up with the name, AIM. Other founding AIM members include Jonathan Bryant and Michael Thomas. Sir Arthur Drew of the Standing Commission for Museums & Galleries famously described these new museums as “the primordial slime of the museum world.”

Independent museums are long-standing, successful social enterprises, run in a business-like way and playing a valuable role in their communities, contributing to a sense of place and making up an important part of the tourism economy. Independent museums and galleries are more numerous than all other types of museum, making up more than half of all museums in the UK.

Forty years on, AIM is now widely recognised as a key heritage organisation, with a national profile across the four home nations of the UK. It has a growing membership of over 1,200, including over 1,000 museums of all sizes. Whilst the majority of AIM membership are small museums (75% of museums and 62% of total membership), often run with only a few staff and/or volunteers and annual visitor attendance of less than 20,000, the diversity and scale of membership is remarkable, and also includes some of the largest and most visited museums in the UK, many of which hold Designated collections. The range of collections and the associated stories these independent museums tell is astonishing and represents our deep-seated interest in history and how it has shaped the lives we live today. Despite the passage of time, AIM continues to offer friendship, alongside professional advice, best practice and an encouraging atmosphere in which to try things.

12

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Achievement of Public Benefit

As a charity, the Trustees recognise their legal duty to report on the Association’s public benefit in their Annual Report, as part of a requirement – given particular emphasis by the Charities Act 2011 – to clearly demonstrate that the Objects of the charity are for the public benefit. In this context, the Trustees accept that being a registered charity is a privilege, not a right. In setting out in this Annual Report, how the charity currently meets this requirement and is reflected in its future plans, the Trustees assert that the charity is compliant with the requirements of the Charities Act 2011; having due regard for the public guidance published by the Charity Commission.

The Trustees acknowledge and accept that there exists a kind of covenant between charities and society: charities bring public benefit and, in their turn, are accorded high levels of trust and confidence, as well as the benefits of charitable status. AIM continues to welcome an explicit reporting of public benefit and how it is aligned with the Objects of the Charity and believes that this will help maintain and grow public trust in the activities of the charitable sector, not least the charitable activities of the Association of Independent Museums.

AIM gives expression to the accomplishment of public benefit throughout this Annual Report. AIM identifies the most significant benefits to the public that arise from its Charitable Objects, as:

Significant Grants and Donations

The Association wishes to acknowledge and thank all the organisations which have given generous financial and in-kind support during the period of this review, in particular: Arts Council England, Biffa Award, The Pilgrim Trust, Esmeé Fairbairn Foundation, the Welsh Government, ICON, Hayes Parsons Insurance Brokers, Art Fund and Museums + Heritage. Details are set out in this report.

Partnerships and Stakeholders

The Association works with a number of partners and stakeholders. The most important of these are Arts Council England, Charity Finance Group, Cultural Governance Alliance, Association of Leading Visitor Attractions, Museums + Heritage, National Museums Directors’ Council, Heritage Alliance, National Trust, Biffa Award, The Pilgrim Trust, ICON, Northern Ireland Museums Council, the Welsh Government, and Museums Galleries Scotland.

13

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Membership

Membership of AIM is a key performance indicator and fundamental to our continuing underlying strength and relevance in the sector. The range of our membership is hugely important when deciding on the priorities of our work. The table summarises membership, as at 31 December 2020, a small decline of 2.1% compared to the prior year.

2020
Membership
Fee		 Members % of
Membership		 % of
Membership
Income
Small museums
(upto 20,000 visitorspa)		 £62 761 63% 40%
Medium museums
(20,000 – 50,000 visitorspa)		 £98 142 12% 12%
Large museums
(50,000 – 100,000 visitorspa)		 £155 55 5% 7%
Largest museums
(over 100,000 visitorspa)		 £400 53 5% 18%
Individual £67 98 8% 5%
Not-for-profit support
organisations		 £134 30 2% 3%
Suppliers and Company
Consultants		 £160 30 2% 4%
Associate Suppliers £355 38 3% 11%
1,207

Reserves Policy

The reserves policy is reviewed annually by the Board. AIM holds a number of restricted funds. Generally these are funds held for the delivery of specific grant-giving activities or projects. The purpose of each of these funds is explained in note 12 of the accounts.

The Trustees have agreed that, given the risks the charity currently faces, it should hold a general, free cash reserve of at least £100,000. The current level of unrestricted reserves is well in excess of this amount, at £266,519.

Environmental Impact

The Association will undertake work to establish, in the most cost-effective way, it’s current Carbon Footprint (CO2e Carbon Dioxide Emissions) and the steps that can be taken to reduce CO2e. In undertaking this important work AIM will work with Julie’s Bicycle, a specialist environmental organisation appointed by Arts Council England to support their National Portfolio Organisations.

Remuneration Policy, Employment and Casual Contracts

The Association benchmarks salaries when staff vacancies become vacant. Board members do not receive any remuneration. The remuneration of key management personnel employed by the charity is set by the Board, and where relevant, taking advice from the Director and external expert advice. The Association will continue to keep under review and circumstances when and if it needs to offer casual employment.

14

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Trustee Indemnity

Professional liability insurance of £1m is in place.

Risk Management and Uncertainties

Trustees have considered the principal risks facing AIM. The key risks considered include financial risks relating to a reduction in income (earned or through grants) or an unexpected increase in the core cost base. They have also considered reputational risks relating to the diversification of activity and the importance of maintaining relevance to AIM’s established membership, whilst increasing the services and programmes that are offered. Operational risks include the potential loss of key staff or Trustees and loss of key data. At this moment of national crisis, the impact of COVID-19 on AIM’s membership, including future membership growth, is an emerging significant risk.

These risks are recorded in AIM’s risk register. The register outlines mitigation strategies for each risk and assigns responsibility for managing and monitoring the risk to a senior member of staff or Trustee. The Board reviews the risk register at least annually.

Investment Policy

The Association, when able to do so, takes advantage of short/medium-term cash flow surpluses by placing funds with regulated financial institutions approved by the Board. It is not the policy of the Association to delegate investment management to an agent of the Charity. In making any investment decisions, including those related to permanent endowment, the Board has due regard to Charity Commission guidance, investment of Charitable Funds: Basic Principles, the Charities Act 2011 and the Trustee Act 2000.

Fundraising Policy

The charity has no fundraising activities requiring disclosure under Section 162A of the Charities Act 2011.

Future Plans

For the year ahead AIM’s resources will be focussed on achieving the greatest possible impact for our members through the objectives of our current strategic plan for 2018-2022:

  1. By 2022 AIM members feel more confident in being entrepreneurial and more effective in running their museums.

  2. By 2022 AIM members are more committed to and have taken some actions to diversify and/or grow their visitor attendance.

  3. By 2022 museum Boards of Trustees are more effective at developing their organisations through exemplary governance, and AIM is established as a leading supporter of governance in the museum sector.

  4. AIM continues to be of significant value to museums and this value is recognised by AIM members:

  5. Museums feel their interests are represented by AIM and AIM keeps them well informed about significant issues and enables them to connect with each other.

15

Association of Independent Museums

Trustees’ Report for the Year Ended 31 December 2020

Financial Review

The financial activities of the Association for the year under review and the financial position at the Balance Sheet date are set out in the Accounts. The Statement of Financial Activities (SOFA) is set out at page 21 and includes both unrestricted and restricted funds. The Board is satisfied with the financial position of the Association.

Unrestricted funds come chiefly from subscription fees from the membership. There is also unrestricted income from advertising in the AIM Bulletin and from the trade show and sponsorship at the annual AIM Conference, as well as sponsorship of other events and programmes. The annual grant from Arts Council England is also unrestricted.

Restricted funds have been provided by Biffa Award, the Pilgrim Trust and the Welsh Government.

The Net Worth at 31 December 2020 stands at £507,203 (2019: £446,285). Restricted Funds stand at £240,684 (2019: £229,576), and Unrestricted Funds at £266,519 (2019: £216,709).

On behalf of the Trustees

Andrew Lovett Chair

Dated:

16

Association of Independent Museums

Statement of Trustees’ Responsibilities

The Trustees (who are also Directors of the Association of Independent Museums for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements 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 the Trustees 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 that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 the 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.

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 dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of Information to Auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

On behalf of the Trustees

Andrew Lovett Chair

Dated:

17

Association of Independent Museums

Independent Auditors’ Report to the Members of the Association of Independent Museums

Opinion

We have audited the financial statements of Association of Independent Museums (the ‘Association’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities incorporating Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council’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 trustee's 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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.

18

Association of Independent Museums

Independent Auditors’ Report to the Members of the Association of Independent Museums

Other Information

The Directors are responsible for the other information contained within the annual report. 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.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are Required to Report by Exception

In light of the knowledge and understanding of the Association 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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Directors (Trustees)

As explained more fully in the Trustees' responsibilities statement set out on page 18, 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 Association’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 intend to liquidate the Association or to cease operations, or have no realistic alternative but to do so.

19

Association of Independent Museums

Independent Auditors’ Report to the Members of the Association of Independent Museums

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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR) and Employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Board about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as

20

Association of Independent Museums

Independent Auditors’ Report to the Members of the Association of Independent Museums

these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of the Audit Report

This report is made solely to the Association's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Association'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 Association and the company's members as a body for our audit work, for this report, or for the opinions we have formed.

Kerry Brown

Senior Statutory Auditor for and on behalf of Crowe UK LLP Chartered Accountants and Statutory Auditor Black Country House Rounds Green Road Oldbury United Kingdom B69 2DG

Dated: 17 May 2021

21

Association of Independent Museums

Statement of Financial Activities Incorporating Income & Expenditure Account for the Year Ended 31 December 2020

Unrestricted
Funds
Restricted
Funds
Note
2020
£
2020
£
Income
Charitable Activities
2
439,690
514,504
Investments
3
661
-
Other Income
4
6,295
-
Total Income
446,646
514,504
Expenditure
Charitable Activities
5
395,624
504,608
Total Expenditure
395,624
504,608
Net Income / (Expenditure)
51,022
9,896
Transfers Between Funds
12
(1,212)
1,212
Net Movement in Funds
49,810
11,108
Reconciliation of Funds:
Total Funds Brought Forward
216,709
229,576
Net Movement in Funds
49,810
11,108
Total Funds Carried Forward
266,519
240,684		 Total
Funds
2020
£
954,194
661
6,295
961,150
900,232
900,232
60,918
-
60,918
446,285
60,918
507,203		 Total
Funds
2019
£
890,540
865
9,162
900,567
1,058,981
1,058,981
(158,414)
-
(158,414)
604,699
(158,414)
446,285

The Statement of Financial Activities (SOFA) also complies with the requirements for an income and expenditure account under the Companies Act 2006.

22

Association of Independent Museums

Balance Sheet as at 31 December 2020

Note
Current Assets
Debtors
10
Cash at bank and in hand
Creditors:amounts falling due within one
year
11
Net Current Assets
Total Net Assets
The Charity’s Funds:
Restricted Funds
12
Unrestricted Funds
12
Total Funds		 £
72,081
477,028
549,109
(41,906)		 2020
£
507,203
507,203
240,684
266,519
507,203
£
68,987
427,451
496,438
(50,153)		 2019
£
446,285
446,285
229,576
216,709
446,285

The Trustees consider that the Association is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Association to obtain an audit for the year in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements were approved and authorised for issue by the Trustees of the Association on 6 May 2021 and signed on their behalf:

Andrew Lovett Chair

Dated:

23

Association of Independent Museums

Cash Flow Statement for the Year Ended 31 December 2020

Notes
Cash Flows from Operating Activities
Net cash provided by/(used in) operating activities
15
Cash Flows from Investing Activities:
Dividends, interest and rents from investments
Net Cash Provided by Investing Activities
Change in Cash and Cash Equivalents in the Year
Cash and cash equivalents brought forward
Cash and Cash Equivalents Carried Forward
16		 2020
£
48,916
661
661
49,577
427,451
477,028		 2019
£
(204,747)		 2019
£
(204,747)

865
865
(203,882)
631,333
427,451

427,451

The notes on pages 25 to 43 form part of these financial statements.

24

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

1. Accounting Policies

1.1 Basis of Preparation

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 Companies Act 2006.

Association of Independent Museums meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The presentation currency is sterling and the financial statements are rounded to the nearest £. The comparative figures relate to the year ended 31 December 2019.

The comparative figures for 2019 have been restated to reflect the inclusion of membership income received in advance.

1.2 Legal Status of the Company

The Association is a company limited by guarantee (No. 1350939). In the event of the Association being wound up, the liability in respect of the guarantee is limited to £1 per member of the Association.

1.3 Going Concern

The Trustees consider that there are no material uncertainties about the Association's ability to continue as a going concern since it has sufficient assets to pay its liabilities as they fall due, including the use of free cash reserves, if necessary. This is supported by the presence of robust budget preparation and monthly financial monitoring. That said, COVID-19 continues to present an unprecedented challenge for AIM members, and its impact will continue to be carefully monitored to identify any material impact on membership levels and associated revenues. In this context, many members have benefited from Government support including the Job Retention Scheme and the Culture Recovery Fund, and membership levels have not been adversely impacted.

1.4 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Association and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Association for particular purposes. The costs 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.

25

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

1.5 Income

All income is recognised once the Association has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income in respect of members' subscriptions, publications, seminars and events are recognised in the period to which it relates.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donations are credited to the Statement of Financial Activities when received.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Support costs are those costs directly in support of expenditure on the objects of the charity. Governance costs are those costs incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Expenditure on assets of over £500 or associated groups of assets over £700 will be capitalised.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.7 Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Association; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

26

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

1.9 Liabilities and Provisions

Liabilities are recognised at the amount that the Association anticipates it will pay to settle the debt or the amount it has received as advance payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation.

1.10 Pensions

The Association operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Association to the fund in respect of the year.

1.11 Financial Instruments

The Association only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.12 Value Added Tax

Following a review, the company is now registered for VAT.

2. Income From Charitable Activities

Unrestricted
Funds
Restricted
Funds
2020
£
2020
£
Grants
307,520
513,004
Membership
123,679
-
Member Support
4,591
1,500
COVID-19 Support Work
3,900
-
Total 2020
439,690
514,504
Unrestricted
Funds
Restricted
Funds
2019
£
2019
£
Grants
300,000
381,343
Membership
110,083
-
Member Support
99,114
-
Total 2019
509,197
381,343		 Total
Funds
2020
£
820,524
123,679
6,091
3,900
954,194
Total
Funds
2019
£
681,343
110,083
99,114
890,540

27

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

3. Investment Income
Unrestricted Total
Funds Funds
2020 2020
£ £
Interest 661 661
Unrestricted Total
Funds Funds
2019 2019
£ £
Interest 865 865
4. Other Incoming Resources
Unrestricted Total
Funds Funds
2020 2020
£ £
Energy Commission 4,274 4,274
Publishers Licensing Revenue 2,021 2,021
Total 2020 6,295 6,295
Unrestricted Total
Funds Funds
2019 2019
£ £
Energy Commission 4,018 4,018
Publishers Licensing Revenue 5,144 5,144
Total 2019 9,162 9,162

28

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

5. Analysis of Expenditure on Charitable Activities

Unrestricted
Funds
Restricted
Funds
2020
£
2020
£
Grants
55,353
444,048
Member Support
340,271
60,560
Total 2020
395,624
504,608
Unrestricted
Funds
Restricted
Funds
2019
£
2019
£
Grants
50,482
531,960
Member Support
430,003
46,536
Total 2019
480,485
578,496
6.
Analysis of Expenditure By Activities
Activities
Undertaken
Directly
Support
Costs
2020
£
2020
£
Grants (listed in Note 20)
499,401
-
Member Support
332,216
68,615
Total 2020
831,617
68,615
Activities
Undertaken
Directly
Support
Costs
2019
£
2019
£
Grants
582,442
-
Member Support
388,788
87,751
Total 2019
971,230
87,751		 Total
Funds
2020
£
499,401
400,831
900,232
Total
Funds
2019
£
582,442
476,539
1,058,981
Total
Costs
2020
£
499,401
400,831
900,232
Total
Costs
2019
£
582,442
476,539
1,058,981

29

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

Direct Costs

Workshop and Events
Memberships and Subscriptions
Research, Publications for Members
AIM National Conference
Website
AIM Bulletin Editorial & Production
Consultancy and Freelance
COVID-19 Support
Wages & Salaries
Support Costs
Staff Travel Expenses
Accountancy, Bookkeeping & Finance
Office & Administration
Staff Training and Recruitment
Bank & Credit Card Charges
Bad Debts
Professional Fees
Governance
7.
Auditors’ Remuneration
Fees Payable for the Audit of the Annual Accounts
Fees Payable to the Association’s Auditor in Respect of:
All Non-audit Services Not Included Above
8.
Staff Costs
Wages & Salaries
Social Security Costs
Contribution to Defined Contribution Pension Schemes		 2020
£
6,361
22,007
19,676
(2,902)
6,412
14,394
39,902
13,000
213,216
332,216
2020
£
4,071
21,084
23,695
3,425
1,112
415
4,848
9,965
68,615
2020
£
4,650
1,500
2020
£
187,102
18,850
7,414
213,366		 2019
£
18,854
23,066
16,442
62,037
9,124
35,810
42,395
-
181,060
388,788
2019
£
9,269
28,038
27,751
4,776
3,934
424
4,517
9,042
87,751
2019
£
4,500
1,500
2019
£
162,166
13,197
5,697
181,060

30

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

8. Staff Costs (Continued)

The average number of persons employed by the Association during the year was as 6 (2019: 5).

No employee received remuneration amounting to more than £60,000 in either year. The total employment benefits, including employer pension contributions, of the key management personnel was £125,580 (2019: £92,248).

9. Trustees’ Remuneration & Expenses

During the year, no Trustee received any remuneration nor benefits in-kind (2019: £nil). During the year expenses totalling £2,765 were reimbursed or paid directly to 2 Trustees (2019: £3,264 to 6 Trustees). The expenses reimbursed related to travel and subsistence costs.

The charity pays an insurance premium to indemnify trustees from any loss arising from the neglect or defaults of directors and officers, the policy covers the Trustees up to £1,000,000. The premium amounted to £373 (2019: £725).

10. Debtors

Due Within One Year:
Trade Debtors
Pre-payments & Accrued Income		 2020
£
3,081
69,000
72,081		 2019
£
10,612
58,375

68,987

11. Creditors: Amounts Falling Due Within One Year

Trade Creditors
Other Taxation & Social Security
Other Creditors
Accruals and Deferred Income		 2020
£
8,585
429
1,174
31,718
41,906		 2019
£
11,146
-
886
38,121

50,153

Deferred income related to Membership fees. The movement during the year is as follows:

Deferred income as at 1 January 2020
Resources deferred during the year
Amounts released from previous periods		 2020
£
31,836
25,806
(31,836)
25,806		 2019
£
26,684
31,836
(26,684)		 2019
£
26,684
31,836
(26,684)

31,836

31

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

12. Statement of Funds

Statement of Funds - Current Year

Statement of Funds - Current Year
Balance at
Balance at 31
1 January Transfers December
2020 Income Expenditure In/Out 2020
£ £ £ £ £
Unrestricted Funds
General Funds 216,709 446,646 (395,624) (1,212) 266,519
Restricted Funds
Biffa Award – History Makers 86,765 352,834 (355,007) - 84,592
Esmée Fairbairn Sustainability Grants
and Micro-consultancies 15,191 - (2,400) - 12,791
Pilgrim Trust Grants and Workshops 88,977 137,000 (108,473) - 117,504
Welsh Gov’t Projects and Grants 38,643 - (19,846) - 18,797
Heritage Fund Development Phase - 11,920 (11,920) - -
Art Fund – COVID-19 Support Work - 11,250 (4,250) - 7,000
Museums Galleries Scotland - 1,500 (2,712) 1,212 -
229,576 514,504 (504,608) 1,212 240,684
Total of Funds 446,285 961,150 (900,232) - 507,203
Statement of Funds – Prior Year
Balance at
Balance at 1 31
January December
2019 Income Expenditure 2019
£ £ £ £
Unrestricted Funds
General Funds 177,970 519,224 (480,485) 216,709
Restricted Funds:
Biffa Award – History Makers 302,075 179,166 (394,476) 86,765
Esmée Fairbairn Sustainability Grants
and Micro-consultancies 47,174 - (31,983) 15,191
Pilgrim Trust Grants and Workshops 77,480 124,977 (113,480) 88,977
Welsh Gov’t Projects and Grants - 77,200 (38,557) 38,643
426,729 382,343 (578,496) 229,576
Total of Funds 604,699 900,567 (1,058,981) 446,285

32

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

Description of Funds

Biffa Award – History Makers: The AIM Biffa Award History Makers project is a partnership between AIM and Biffa Award which funds new exhibitions that celebrate the lives of history makers – people whose life or work has had a lasting impact on the world we live in today.

Esmée Fairbairn Sustainability Grants and Micro-consultancies: A grant programme providing grants to small and medium sized museums to improve their financial sustainability or organisational health and also funding for assistance to small museums needing urgent support or requiring help to make an application to the Sustainability Grants. Funded by Esmée Fairbairn Foundation (EFF). The final grants were awarded in 2018 and the remaining activity in 2019 follows a final report to EFF and reflects the completion of outstanding projects. This scheme is now closed.

Pilgrim Trust Grants and Workshops : Support to small and medium sized museums in looking after and conserving their collections, through grants and workshops. Funded by The Pilgrim Trust.

Welsh Government Projects and Grants : In 2019 a grant was awarded to enable AIM members in Wales to access AIM’s Hallmarks grants, governance support, provide Welsh language resources and develop a resilience network for museum leaders in Wales.

13 Summary of Funds

Summary of Funds
Balance at 31
Balance at 1 Transfers December
January 2019 Income Expenditure In/Out 2019
£ £ £ £ £
Current Year:
General Funds 216,709 446,646 (395,624) (1,212) 266,519
Restricted Funds 229,576 514,504 (504,608) 1,212 240,684
Total 2020 446,285 961,150 (900,232) - 507,203
Balance at 21
Balance at 1 December
January 2019 Income Expenditure 2019
£ £ £ £
Prior Year:
General Funds 177,970 519,224 (480,485) 216,709
Restricted Funds 426,729 381,343 (578,496) 229,576
Total 2019 604,699 900,567 (1,058,981) 446,285

33

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

14 Analysis of Net Assets Between Funds Current Year

14
Analysis of Net Assets Between Funds
Current Year
Unrestricted
Funds
2020
Restricted
Funds
2020
£
£
Current Assets
308,425
240,684
Creditors Due Within One Year
(41,906)
-
Total
266,519
240,684
Prior year
Unrestricted
Funds
2019
Restricted
Funds
2019
£
£
Current Assets
266,862
229,576
Creditors due within one year
(50,153)
-
Total
216,709
229,576
15
Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities
2020
£
Net income/expenditure for the period (as per Statement of Financial
Activities)
60,918
Adjustments for:
Dividends, interests and rents from investments
(661)
(Increase)/decrease in debtors
(3,094)
Increase/(decrease) in creditors
(8,247)
Net cash provided by/(used in) operating activities
48,916
16
Analysis of Cash and Cash Equivalents
2020
£
Cash in hand
477,028
Total cash and cash equivalents
477,028		 Total
Funds
2020
£
549,109
(41,906)



507,203
Total
Funds
2019
£
496,438
(50,153)
446,285
2019
£
(158,414)
(865)
(58,054)
12,586
(204,747)
507,203

Total
Funds
2019
£
496,438
(50,153)

446,285

2019
£
427,451
427,451

34

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

17 Analysis of Changes in Net Debt

At 31
At 1 January December
2020 Cash flows 2020
£ £ £
Cash at bank and in hand 427,451 49,577 477,028
427,451 49,577 477,028

18. Pension Commitments

The Association operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Association in an independently administered fund. The pension cost charge represents contributions payable by the Association to the fund and amounted to £7,414 (2019: £5,697). Contributions totalling £1,174 (2019: £Nil) were payable to the fund at the balance sheet date and are included in creditors.

19. Related Party Transactions

Due to the nature of the Association, there are a number of Trustees who are connected to member museums, with whom transactions have occurred during the year relating to mentoring and catering services provided.

The Commonwealth War Graves Commission, of which Trustee Victoria Wallace (now retired from the Board of AIM) was an employee (Director General), was paid a total of £32,845 (2019: £20,213) in grant funding.

The Fusilier Museum & Learning Centre (London), of which Trustee Brian Gorski is a Trustee, was paid a total of £11,472 (2019: £4,623) in grant funding.

The Burgh House & Hampstead Museum, of which Trustee Mark Francis is a Trustee, was paid a total of £2,800 (2019: £Nil) in grant funding.

The Lightbox, of which Trustee Marilyn Scott is a Trustee, was paid a total of £1,700 (2019: £Nil) for advertising and consultancy.

The Royal British Society of Sculptors, of which Trustee Caroline Worthington is a Trustee, was paid a total of £1,370 (2019: £Nil) for venue hire.

The Port Sunlight Village Trust, of which Emma Chaplin (AIM (executive) Director until 31 March 2021) is a Trustee, was paid a total £62,641 (£Nil) in grant funding.

The Canal & River Trust, of which Trustee Andrew Lovett and Emma Chaplin are members of their Museum Advisory Group, was paid a total of £4,815 (£Nil) for office rent and venue hire.

35

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

20. Grants Awarded in 2020

The following grants were awarded by AIM to its members during 2020. AIM gratefully acknowledges the support of Biffa Award, The Pilgrim Trust, Arts Council England, and Welsh Government (Museums, Archives & Libraries Division) for enabling AIM's grant distribution programme. A total of 63 grants were allocated with a value of £509,011, including grants awarded but not necessarily paid or accrued in year totalling £9,610. Grants are an important support to members of the Association.

COLLECTIONS CARE GRANTS SCHEME 2020 – THE PILGRIM TRUST 2 Rounds in April 2020 and October 2020 – 11 awards totalling £49,350

The following grants were awarded by AIM to its members during 2020. AIM gratefully acknowledges the
support of Biffa Award, The Pilgrim Trust, Arts Council England, and Welsh Government (Museums,
Archives & Libraries Division) for enabling AIM's grant distribution programme. A total of 63 grants were
allocated with a value of £509,011, including grants awarded but not necessarily paid or accrued in year
totalling £9,610. Grants are an important support to members of the Association.		 The following grants were awarded by AIM to its members during 2020. AIM gratefully acknowledges the
support of Biffa Award, The Pilgrim Trust, Arts Council England, and Welsh Government (Museums,
Archives & Libraries Division) for enabling AIM's grant distribution programme. A total of 63 grants were
allocated with a value of £509,011, including grants awarded but not necessarily paid or accrued in year
totalling £9,610. Grants are an important support to members of the Association.		 The following grants were awarded by AIM to its members during 2020. AIM gratefully acknowledges the
support of Biffa Award, The Pilgrim Trust, Arts Council England, and Welsh Government (Museums,
Archives & Libraries Division) for enabling AIM's grant distribution programme. A total of 63 grants were
allocated with a value of £509,011, including grants awarded but not necessarily paid or accrued in year
totalling £9,610. Grants are an important support to members of the Association.		 The following grants were awarded by AIM to its members during 2020. AIM gratefully acknowledges the
support of Biffa Award, The Pilgrim Trust, Arts Council England, and Welsh Government (Museums,
Archives & Libraries Division) for enabling AIM's grant distribution programme. A total of 63 grants were
allocated with a value of £509,011, including grants awarded but not necessarily paid or accrued in year
totalling £9,610. Grants are an important support to members of the Association.
COLLECTIONS CARE GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 11 awards totalling £49,350
Grant Recipient Purpose / Project Grant
1 Nantwich Museum Trust Ltd Step Change – to improve environmental conditions. £5,000
2 The Foundling Museum Purchase of environmental monitoring equipment. £5,000
3 Royal Regiment of Fusiliers
Museum (Royal Warwickshire)		 Future Proofing: collections training and materials. £2,660
4 Tenby Museum & Art Gallery Sustainable storage. £5,000
5 The Herschel Museum of
Astronomy (The Herschel
House Trust)		 Improving light and UV levels. £4,115
6 Scottish National Memorial to
David Livingstone Trust
David Livingstone Birthplace		 Protecting and securing our collection and storage. £2,575
7 Museum of the Isles Wireless environmental monitoring system. £5,000
8 Petersfield Museum A Lasting Impression – conserving the Don Eades
photographic negatives.		 £5,000
9 Coldharbour Mill Working
Wool Museum		 Protection for textile exhibits from light. £5,000
10 Spalding Gentlemen’s Society Improving museum stores and collection storage. £5,000
11 Andrew Logan Museum of
Sculpture (ALMoS)		 Collection care and management support 2021. £5,000

36

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

REMEDIAL CONSERVATION GRANTS SCHEME 2020 – THE PILGRIM TRUST 2 Rounds in April 2020 and October 2020 – 16 awards totalling £53,421.

REMEDIAL CONSERVATION GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 16 awards totalling £53,421.		 REMEDIAL CONSERVATION GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 16 awards totalling £53,421.		 REMEDIAL CONSERVATION GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 16 awards totalling £53,421.		 REMEDIAL CONSERVATION GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 16 awards totalling £53,421.
Grant Recipient Purpose / Project Grant
1 The Fry Art Gallery Conservation of nine oil paintings by Isabel Lambert
(Rawsthorne) 1912-1992.		 £4,000
2 Lyme Regis (Philpot) Museum Conservation of the Bindon Landslip Heptaptych Panel
of August 1840.		 £2,000
3 Metheringham Airfield Visitor
Centre		 WW2 Rescue Dinghy restoration. £4,000
4 Emsworth Maritime and
Historical Trust		 Conservation of an Edwardian wedding dress. £1,700
5 Pickering Beck Isle Museum of
Rural Life		 Conservation of the 1888 Sunday School Signature
Quilt.		 £3,470
6 The Unicorn Preservation
Society (UPS)		 Conservation of the model of the Port of Dundee. £3,245
7 RAPTC Museum Restoration of RAPTC Museum pommel horses. £790
8 Menai Bridge Community
Heritage Trust		 Conservation of Robert Stephenson’s portrait
medallion.		 £2,797
9 Ely Museum Conserving the Ely sedan chair. £3,073
10 Dyson Perrins Museum Trust
T/A Museum of Royal
Worcester		 Restoring and rehanging the portrait of Dr Wall,
founder of porcelain manufacture in Worcester.		 £4,000
11 Kennet & Avon Canal Trust,
Crofton Beam Engines		 Archimedes Screw Conservation Project. £4,000
12 Burgh House CIO Restoring a significant Hampstead portrait of Diana
Corfield (1807-1887) by George Cruikshank (1792-
1878).		 £5,600
13 Burton Constable Foundation Conservation of the Turkish Slave, bronzed plaster
sculpture.		 £1,745
14 The Musical Museum Bringing 'Beatrice' to life: a Steinway Model 'O' Grand
Piano complete with Duo-Art reproducing piano
mechanism.		 £6,000
15 Fairground Heritage Trust Conservation of Billy Wood’s boxing front. £4,606

37

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

16 The Judge’s Lodging Returning ‘Time’ to the Period Rooms, the restoration
of 5 clocks: two dial clocks by Charles Millichamp,
Presteigne; dial clock W. Harris of Knighton; 19th
century French mantel clock; longcase clock by
Williams, Brecknock.		 £2,395

COLLECTIONS CARE AUDIT GRANTS SCHEME 2020 – THE PILGRIM TRUST 2 Rounds in April 2020 and October 2020 – 15 awards totalling £17,105.

COLLECTIONS CARE AUDIT GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 15 awards totalling £17,105.		 COLLECTIONS CARE AUDIT GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 15 awards totalling £17,105.		 COLLECTIONS CARE AUDIT GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 15 awards totalling £17,105.		 COLLECTIONS CARE AUDIT GRANTS SCHEME 2020 – THE PILGRIM TRUST
2 Rounds in April 2020 and October 2020 – 15 awards totalling £17,105.
Grant Recipient Purpose / Project Grant
1 Woodbridge Tide Mill
Charitable Trust Woodbridge
Tide Mill Museum		 Objects in the Collections that were present in the
envelope of the structure when it was acquired for
conservation in 1968, with small number of objects
that have been donated over the intervening years.
The Collections have never been assessed by a
conservator.		 £1,120
2 Frenchay Village Museum The historic collection of fine art, books, letters,
porcelain, archaeological artefacts, and local history
objects. Those who have had training have moved on
and the museum’s current team do not possess a
comprehensive knowledge of conservation and
collections management techniques.		 £1,100
3 Andrew Logan Museum of
Sculpture (ALMoS)		 Concerns about outdoor, 1974 fibreglass RED ROSE,
about other works made of wood (Earth thrones and
portrait, Singing Tree) and our large 1995 Fire Portrait.
We hold a collection of a unique nature: a variety of
combinations of relatively modern materials in a single
piece; a variety of accessioned works (t-shirts,
drawings, catalogues, posters, sculptures, jewellery)
most of which can be categorised as art works.		 £1,320
4 St Andrews Referred from Collections Care to the Audit Scheme. £1,100
5 Creswell Crags Museum and
Heritage Centre		 Referred from Collections Care to the Audit Scheme. £1,465
6 Bahamas Locomotive Society
Ltd, Ingrow Loco Museum		 The museum has a number of ‘larger working objects’,
such as locomotives, in and around the site, a quantity
of smaller objects housed within display cases within
the museum, and a range of paper-based documents in
the archive. Space is extremely limited.		 £1,100
7 Weardale Museum 1,800 objects in the collection not including objects to
be accessioned for 2020. We provide a sense of place
for those who live and visit Weardale by telling the
stories of its history and heritage, including that of John
Wesley and Methodism in the Dale and High House
Chapel. Advice required on current collection storage
and future stores.		 £1,100

38

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

8 The Red Rose Steam Society
Ltd T/A Lancashire Mining
Museum		 Within Astley Green Colliery in 1980, which houses the
last lattice head gear and winding engine in Lancashire,
there are several artefacts throughout the site which
have been accumulated over the last forty years and
relate to mining, some donated to the museum by
other museums, e.g. Buile Hill and also by ex-miners.
There is a yet unquantified number of paper exhibits.		 £1,100
9 Andrew Carnegie Birthplace
Museum		 A gradual deterioration of numerous objects
(photographic plates, leather-bound books, oil
paintings, wooden artefacts, etc.) due to constant
fluctuations of temperature and humidity. This
situation was exacerbated between March–July this
year when museum staff were unable to be on-site to
check and adjust the dehumidifier due to lockdown
restrictions. As potential local lockdowns are to be
expected for at least another year, we are looking to
make our storage conditions as self-reliant and stable
as possible as soon as possible.		 £1,100
10 The Dacorum Heritage Trust
Ltd		 The aim of the audit would be to address the needs of
the collections in terms of preventive conservation,
looking at the overall condition of the collections and
make recommendations for future collections care.
Parts of our collections are at risk due to poor packing
and storage, particularly items stored on open shelves
and the floor in our large object store, as well as 300
bound copies of the gazette newspaper that are
frequently used for research but are fragile and stored
in a way that requires frequent movement to enable
access. There are also potential hazards within our
collections including gas masks, corroded lead,
insecticides and mercury that require specific actions.		 £1,100
11 Museum of Farnham Staff would benefit from a professional conservators
advice and support in setting their next set of priorities
and actions, within the reviewed conservation plan.
There is almost an immediate need to address the
museum’s environmental monitoring system. To
improve the museum’s preventative conservation,
includes pest management, measuring light and
maintaining the best environmental conditions, within
the reality of operating a museum in a Grade 1 listed
building.		 £1,100

39

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

12 Amgueddfa Arforol Caergybi /
Holyhead Maritime Museum		 To help our understanding of decay and its mechanisms
– agents likely to cause harm whether they be
fire/water, pests or salt damage as we are by the sea.
It would help us plan achievable collections
management in its various facets such as
environmental control / UV control / RH control and
monitoring. The collection has around 4,000 artefacts
in its collection. The collection has models, medals,
ships models, paintings, tools & uniforms. Materials
vary from various metals, textiles, wood and a
mammoth’s jaw bone!		 £1,100
13 Fairfax House, York Civic Trust To receive guidance on how best to care for and
preserve the Museum's historic collections held in
storage areas which are inadequate. Crucial to this will
be recommendations on how to improve staff access to
them. The audit will also enable us to update our
conservation plan and help direct the curatorial team in
its implementation. Our current storage facilities fall
well below best practice with low sloping ceilings, use
of rafter spaces and areas without floorboards.		 £1,100
14 Garden City Collection,
(Letchworth Garden City
Heritage Foundation)		 Following a restructure of the organisation due to
Covid-19 – a staff of 3, with 20+ volunteers has now
been replaced by one member of staff, a Heritage
Manager, with limited specific collections management
experience. A Collections Audit would allow a fresh
appraisal of current priorities and requirements ahead
of re-accreditation in 2022, and would allow for
qualified, independent identification of areas of
greatest need. The Garden City Collection is a museum
store and study centre, housing over 250,000 objects,
predominantly small objects, photographs, postcards,
plans, printed ephemera, books, and small industrial
items.		 £1,100
15 Amgueddfa Forwrol Llŷn
Maritime Museum		 Llŷn Maritime is at a turning point and we would like
professional advice on how to proceed. Approximately
25 percent of the collection is on display in the body of
the church. The rest of the collection (75%) has been
stored off site for several years. However, the museum
has a recently completed mezzanine storage area
which has enabled us to bring the rest of the artefacts
in the collection to be stored at the museum. We
would very much appreciate professional advice on our
preservation practices, and any urgent conservation
needs, including setting priorities for the future. In
particular how to effectively organise and store our
artefacts so they can be preserved and accessed in the
most effective way.		 £1,100

40

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

AIM TRAINING GRANTS Awarded throughout 2020 – 6 awards totalling £1,715.

AIM TRAINING GRANTS
Awarded throughout 2020 – 6 awards totalling £1,715.		 AIM TRAINING GRANTS
Awarded throughout 2020 – 6 awards totalling £1,715.		 AIM TRAINING GRANTS
Awarded throughout 2020 – 6 awards totalling £1,715.		 AIM TRAINING GRANTS
Awarded throughout 2020 – 6 awards totalling £1,715.
Grant Recipient Purpose / Project Grant
1 Grampian Transport Museum Study visit £300
2 Creswell Crags Museum and
Heritage Centre		 MA Collections Conference £250
3 Dundee Museum of Transport SCPLH Scottish Certificate for Personal Licence Holders £265
4 The Steamship Freshspring
Trust		 Historic Vessel Distance Learning Course £300
5 Chertsey Museum GEM Foundation Course £300
6 Penmaenmawr Museum Accredited British Sign Language Course (BSL), Level 2 £300

AIM MICRO CONSULTANCY GRANTS 2020 – ESMEE FAIRBAIRN FOUNDATION Awarded throughout 2020 – 1 award of £1,200.

Grant Recipient Purpose / Project Grant
1 Royal Society of Sculptors Internal needs analysis, diversity and inclusion audit £1,200
session facilitation.

AIM HALLMARKS AWARD YEAR 2 – ARTS COUNCIL ENGLAND Awarded January 2020 – 8 awards totalling £55,255.

AIM HALLMARKS AWARD YEAR 2 – ARTS COUNCIL ENGLAND
Awarded January 2020 – 8 awards totalling £55,255.		 AIM HALLMARKS AWARD YEAR 2 – ARTS COUNCIL ENGLAND
Awarded January 2020 – 8 awards totalling £55,255.		 AIM HALLMARKS AWARD YEAR 2 – ARTS COUNCIL ENGLAND
Awarded January 2020 – 8 awards totalling £55,255.		 AIM HALLMARKS AWARD YEAR 2 – ARTS COUNCIL ENGLAND
Awarded January 2020 – 8 awards totalling £55,255.
Grant Recipient Purpose / Project Grant
1 Macclesfield Museums Collections at the Heart of Transforming The Silk
Museum: Our remarkable collections relating to
Macclesfield’s silk industry need a new approach to
storage, management and interpretation to transform
visitor experience and strengthen financial resilience.		 £12,000
2 The National Videogame
Museum		 Insert Coin – The road to sustainability: The National
Videogame Museum requires funding to support the
procurement and implementation of a new Customer
Relationship Management System (CRM). The main
drive for the NVM is the need to better understand and
connect with current audiences, as well as targeting
and communicating with new ones.		 £11,500

41

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

3 Fusilier Museum and Learning
Centre		 Rags to Riches – Website and Digital Business
Sustainability: To integrate the digital assets of the
museum to deliver business functionality into the new
website in order to generate income and support the
long term sustainability of the museum.		 £10,500
4 Teign Heritage Centre,
Teignmouth & Shaldon
Museum		 Introducing Electronic Point of Sale to record visitor
admissions and retail sales: Produce accurate data for
visitor numbers, retail sales and stock control by
introducing an electronic point of sale system (EPOS)
and software.		 £3,755
5 Bursledon Brickworks Museum
Trust		 Making a Great Entrance: Creating a more exciting and
welcoming space for visitors. Including a pop-up shop,
providing greater flexibility and security while retaining
our authentic feel.		 £5,000
6 Heckington Windmill Trust Shop & Retail Review: A full refurbishment of our shop,
with new display units that are fit for purpose, enabling
an enhanced visitor experience and increase in shop
profit.		 £5,000
7 Museum of Royal Worcester Ceramic Creative Café: To add an income-generating
hands-on ceramic activity to the Museum’s daily offer
where visitors can engage with collection themes of
ceramic design and process.		 £5,000
8 British Dental Association
Museum		 Shop success: To help the museum maximise income
from its shop by gaining expert advice for
improvements to enhance the visitor experience,
generate increased sales and ensure the sustainability
of the museum.		 £2,500

HALLMARKS IN WALES YEAR 2 M.A.L.D, WELSH GOVERNMENT Awarded March 2020 – 1 award of £5,000.

HALLMARKS IN WALES YEAR 2 M.A.L.D, WELSH GOVERNMENT
Awarded March 2020 – 1 award of £5,000.		 HALLMARKS IN WALES YEAR 2 M.A.L.D, WELSH GOVERNMENT
Awarded March 2020 – 1 award of £5,000.		 HALLMARKS IN WALES YEAR 2 M.A.L.D, WELSH GOVERNMENT
Awarded March 2020 – 1 award of £5,000.		 HALLMARKS IN WALES YEAR 2 M.A.L.D, WELSH GOVERNMENT
Awarded March 2020 – 1 award of £5,000.
Grant Recipient Purpose / Project Grant
1 Tenby Museum & Art Gallery Towards a sustainable future for Tenby Museum & Art
Gallery.		 £5,000

HISTORY MAKERS SCHEME – BIFFA AWARD

Awarded January 2020 – 5 awards totalling £325,965

HISTORY MAKERS SCHEME – BIFFA AWARD
Awarded January 2020 – 5 awards totalling £325,965		 HISTORY MAKERS SCHEME – BIFFA AWARD
Awarded January 2020 – 5 awards totalling £325,965		 HISTORY MAKERS SCHEME – BIFFA AWARD
Awarded January 2020 – 5 awards totalling £325,965		 HISTORY MAKERS SCHEME – BIFFA AWARD
Awarded January 2020 – 5 awards totalling £325,965
Grant Recipient Purpose / Project Grant
1 Pankhurst Trust At Home with the Pankhurst Family £75,000
2 National Football Museum Lily Parr: Football’s first female superstar £55,440

42

Association of Independent Museums

Notes to the Accounts for the Year Ended 31 December 2020

3 The Arkwright Society –
Cromford Mills		 When Arkwright Met Strutt, Creating a Cotton Spinning
Legacy		 £64,995
4 Milton’s Cottage Trust (CIO) Jon Milton – History Maker £60,530
5 Gilbert White & The Oates
Collections		 Revealing Gilbert White £70,000

43

ASSOCIATION OF INDEPENDENT MUSEUMS

Private Company Limited by Guarantee Registered in England Company No. 1350939 and Registered as a Charity No. 1082215