THE FROME MUSEUM
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
Company Information
President HM Daniel Trustees RA Cuzner (Chairman) BP Edwards (Vice Chair) HM Daniel A Foster-Jones Cllr S Gore Ms DK Ingram (retired Oct 2020) BJ Marshall S Macarthur Dr EJ Robinson (retired July 2020) Company Secretary BJ Marshall Management Committee Trustees are all ex officio Members JG Hedges J Ryman Mrs J O’Kane (retired March 2020) C Wisbey Ms S Morris (FSLS Representative) Registered Office 1 North Parade Frome Somerset BA11 1AT Independent Examiner AA Liggatt FCA Darkhaven Witham Friary Frome Somerset BA11 5HF Company No 2377177 Registered Charity No 1091103
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THE FROME MUSEUM
Contents
| Page | |
|---|---|
| Independent Examiner’s Report | 3 |
| Trustees’ Report | 4 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 – 9 |
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THE FROME MUSEUM
Independent Examiner’s Report to the Trustees of The Frome Museum
I report on the accounts of the Trust for the year ended 31 December 2020, which are set out on pages 4 – 9.
Respective Responsibilities of Trustees and Examiner
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 43(3)(a) of the 1993 Act)
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to follow the procedures laid down the General Direction given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
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- to state whether particular matters have come to my attention.
Basis of the Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respects the requirements:
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to keep accounting records in accordance with Section 41of the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act,
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
………………. AA Liggatt FCA Frome, Somerset
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THE FROME MUSEUM
Annual Report of the Trustees 2020 Charity reference 1091103
Legal Status
The Frome Museum is a Company Limited by Guarantee Company number 2377177.
Governance
Trustees must number no fewer than five. At 31 December 2020 the composition of the Trustees was as follows:
RA Cuzner (Chairman) BP Edwards (Vice Chair) HM Daniel A Foster-Jones Cllr S Gore BJ Marshall S Macarthur
The Trustees are responsible for providing a clear strategy on all matters relating to the Museum, including financial matters, and that they comply with all necessary rules and legal obligations. The Museum has no paid staff and is run and managed entirely by volunteers. Trustees are recruited through their interest shown in the Museum and their willingness to accept the responsibilities of a Trustee. Appointments are made based on candidates’ knowledge of and interest in the heritage sector; professional skills and experience; and demonstrable interest in local history.
Reserves
Total assets of £188,443 are held in an unrestricted fund.
Objectives of the Charity
These are:
a: to collect, store and conserve artefacts and documents of historic, cultural and artistic importance on behalf of the people of Frome and District
b: to enable the general public to have access to the collection for investigation and study;
c: to provide a place where exhibitions can be mounted to inform, and for the enjoyment of, the general public;
d: to foster an interest in history, especially in the young, and to promote an understanding of the relevance of the past to the society in which we live.
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- e: to provide a library service and information on Frome and District
Main Activities and Achievements of the Charity during the Year
These are summarised in the Museum’s Annual Report 2020 which will be circulated prior to the Museum’s Annual Public Meeting to volunteers and all those who have supported and contributed to the work of the museum over the year.
Donations
Total donations were £3,356 (2019 £9,613). The sale of FSLS books and second-hand books raised a further £449 (2019 £2,516)
Thanks
The Trustees sincerely thank the volunteers and other friends of the Museum for their support during an extremely challenging and difficult year. During this twelve month period we have experienced limitations to public movement and rigorous health protection procedures, but our Museum has emerged financially sound and organisationally strong. The continuing development of its internet catalogue has been aided by remote working and has enhanced a growing national awareness of the Museum’s collections and archives. A reassuring outcome from a very difficult year.
On behalf of the Trustees
R A Cuzner- Chairman of the Trustees Dated: 9th February 2021
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THE FROME MUSEUM
Statement of Financial Activities for the year ended 31 December 2020
| Incoming Resources Rents Frome Town Council Grant Mendip District Council Donations Gift Aid Sales Rook Lane Arts Legacy Bank/Building Society Interest Resources Expended Rates Telephone and internet Purchases for re-sale Water rates Heating and lighting Insurance Printing, postage and stationery Subscriptions and fees Company registration fee Maintenance and repairs Equipment (other than IT) Professional fees other than C & T Cooper and Tanner Fees Depreciation Singer’s Glass Slides Restoration Cleaning Additions to collection Hospitality Sundry Exhibition costs Travel and hotel costs IT Support Services Net Outgoing Resources for the year |
2020 £ 20,131 500 27,000 3,356 525 449 2,560 1,000 577 62 2,315 189 127 1,956 2,091 129 264 13 7,396 505 1,965 2,366 2,608 2,561 110 - - 158 207 58 4,945 |
56,098 30,025 26,073 |
2019 £ 20,737 - - 9,613 2,201 2,516 - - 512 416 2,240 1,073 176 1,906 2,034 404 131 13 8,989 948 3,256 2,318 3,007 - 490 1,485 990 216 551 907 6,598 |
35,579 38,148 (2,569) |
|---|---|---|---|---|
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THE FROME MUSEUM
Balance Sheet as at 31 December 2020
| Notes Fixed Assets Tangible assets 5 Current Assets Stock Debtors Cash at bank and in hand Creditors:Amounts falling due within one year 6 Capital and reserves Unrestricted fund 8 |
5,530 711 68,667 74,908 (16,225) |
2020 £ 129,760 58,683 188,443 188,443 |
5,484 929 39,367 45,780 (14,885) |
2019 £ 131,475 30,895 162,370 162,370 |
|---|---|---|---|---|
Exemption from Audit
For the year ended 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006.
No notice has been deposited under section 476 B (2) requesting an audit of the accounts for the year ended 31 December 2020.
The Company Directors/Trustees acknowledge their responsibility for:
(1) ensuring the company keeps accounting records which comply with section 386; and
(2) preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of its financial year, and of its profit and loss for the financial year in accordance with section 393 and 394, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as is applicable to the company.
Approved by the trustees on th February 2021 and signed on their behalf by:
R A Cuzner - Chairman of the Trustees
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THE FROME MUSEUM
Notes to the Financial Statements for the year ended 31 December 2020
1. Accounting Policies
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(a) The financial statements have been prepared under the historical cost convention, the Companies Act 2006 and follow the recommendations in the Revised Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued in March 2005
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(b) Stock consists of only items saleable in the museum shop and has been estimated. Goods donated for re-sale are not included in these accounts until sold.
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(c) Depreciation has not been applied to freehold buildings which are stated at cost. Depreciation on equipment has been applied on a reducing balance basis at 20% per annum.
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(d) Exhibits, artefacts and the like have been acquired through donation and not by purchase. No value for these items is included in these accounts.
2. Trustees’ expenses
- Trustees’ expenses were £58 (2019: £647)
3. Staff Costs
Staff Costs were nil (2019: nil)
4. Independent Examiner’s Report
The cost of the Independent Examiner’s Report was £400 (2019: £400)
5. Tangible Fixed Assets
| Freehold Property £ Equipment £ Cost At 1 January 2019 117,407 42,430 Additions 0 893 117,407 43,323 Depreciation At 1 January 2019 - 28,362 Charge for year -. 2,608 -. 30,970 Net book value At 31 December 2020 117,407 12,353 At 31 December 2019 111,407 14,068 |
Total £ 159,837 893 160,730 28,362 2,608 30,970 129,760 131,475 |
|---|---|
The freehold property was valued in 2004 at £450,000.
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THE FROME MUSEUM
Notes to the Financial Statements for the year ended 31 December 2020
Creditors: Amounts falling due within one year
| Payments in advance Sundry creditors |
2020 £ 198 16,027 16,225 |
2019 £ 194 14,691 14,885 |
|---|---|---|
7. Capital and Reserves
The Company is limited by guarantee and therefore has no share capital
8. Unrestricted Fund
| Balance at 1stJanuary 2020 Plus: Net Outgoing Resources Balance at 31 December 2020 |
162,370 26,073 188,443 |
|---|---|
9. The Frome Museum – Artefacts Trust Registered Charity No 309956
The Artefacts Trust exists to own the various artefacts available to The Frome Museum. The artefacts have been donated or bequeathed to the museum over a number of years and have no definable cost. Consequently, the Artefacts Trust has no valued assets, has no liabilities and accordingly does not prepare accounts. It does, however, maintain a record of the artefacts held in its charge.
All of the Frome Museum Trustees are also Trustees of the Artefacts Trust
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