## **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:
- examine the accounts (under section 43(3)(a) of the 1993 Act)
- to follow the procedures laid down the General Direction given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
- - 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:
- to keep accounting records in accordance with Section 41of the Act; and
- 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)|
|---|---|---|---|---|
6
## **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**
- (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
- (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.
- (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.
- (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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