THE FROME MUSEUM
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Company Information
| President |
HM Daniel |
|---|---|
| Trustees | RA Cuzner (Chairman) |
| BP Edwards (Vice Chair) | |
| HM Daniel | |
| Cllr S Gore | |
| Dr R Heath | |
| BJ Marshall | |
| S Macarthur | |
| Company Secretary | BJ Marshall |
| Operations Committee | Trustees are all_ex officio_Members |
| M Davis | |
| JG Hedges | |
| D Lassman | |
| M Pattinson | |
| J Ryman | |
| C Wisbey | |
| Ms S Morris (FSLS Representative) | |
| Registered Office | 1 North Parade |
| Frome | |
| Somerset | |
| BA11 1AT | |
| Independent Examiner | AA Liggatt FCA |
| 16 Sunny Hill | |
| Nunney | |
| Frome | |
| Somerset | |
| BA11 5ND | |
| Company No | 2377177 |
| Registered Charity No | 1091103 |
1
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 |
2
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 2021, 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
3
THE FROME MUSEUM
Annual Report of the Trustees 2021 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 2021 the composition of the Trustees was as follows:
RA Cuzner (Chairman) BP Edwards (Vice Chair) HM Daniel Cllr S Gore Dr R Heath 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 £224,262 are held in three separate funds.
| Unrestricted fund | £193,078 |
|---|---|
| Repairing Building Fund | £ 20,000 |
| Designated fund donated by FHBT for replacing windows | £ 11,184 |
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
4
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.
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 2021 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.
Frome Historic Buildings Trust (FHBT)
The Trustees sincerely thank the trustees of the FHBT for donating their remaining funds amounting to £11,184 to Frome Museum. Discussions have been held between the two charities and it has been agreed that this amount will be used to replace the windows on the North Parade side of the building.
Donations
Total donations were £2,407 (2020 £3,356). The sale of FSLS books and second-hand books raised a further £1,473 (2020 £449)
Acknowledgements
The Trustees sincerely thank the volunteers and other friends of the Museum for their support during the second extremely challenging year of the Covid-19 pandemic. We reopened at the very end of June 2021 with 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: 4[th] February 2022
5
THE FROME MUSEUM
Statement of Financial Activities for the year ended 31 December 2021
| Incoming Resources Rents Grant Mendip District Council Donations Gift Aid Sales Rook Lane Arts Legacy Bank/Building Society Interest Frome Historic Buildings Trust Resources Expended Business 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 New Website Restoration of Painting Hospitality Sundry Exhibition costs Travel costs IT Support Services Net Outgoing Resources for the year |
2021 £ 21,409 1,000 36,500 2,407 498 1,473 - - 699 170 2,925 685 138 2,626 2,092 395 167 13 5,652 251 1,895 3,086 2,247 2,647 310 6,998 1,400 1,017 196 246 - 4,195 |
63,986 11,184 75,170 39,351 35,819 |
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 - 56,098 30,025 26,073 |
|---|---|---|---|---|
6
THE FROME MUSEUM
Balance Sheet as at 31 December 2021
| 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 FHBT Windows Repairing Building Fund Totals |
5,294 679 102,059 108,032 (11,964) |
2021 £ 128,194 96,068 224,262 193,078 11,184 20,000 224,262 |
5,530 711 68,667 74,908 (16,225) |
2020 £ 129,760 58,683 188,443 188,443 - - 188,443 |
|---|---|---|---|---|
Exemption from Audit
For the year ended 31 December 2021 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 2021.
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 4th February 2022 and signed on their behalf by:
R A Cuzner - Chairman of the Trustees
7
THE FROME MUSEUM
Notes to the Financial Statements for the year ended 31 December 2021
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 cash basis at 20% per annum and on original artwork at 4% 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 nil (2020: £58)
3. Staff Costs
Staff Costs were nil (2020: nil)
4. Independent Examiner’s Report
The cost of the Independent Examiner’s Report was £400 (2020: £400)
5. Tangible Fixed Assets
| Freehold Property £ Equipment £ Cost At 1 January 2020 117,407 43,323 Additions 0 681 117,407 44,004 Depreciation At 1 January 2020 - 30,970 Charge for year -. 2,247 -. 33,217 Net book value At 31 December 2021 117,407 10,787 At 31 December 2020 111,407 12,353 |
Total £ 160,730 681 161,411 30,970 2,247 33,217 128,194 129,760 |
|---|---|
The freehold property was valued in 2004 at £450,000.
8
THE FROME MUSEUM
Notes to the Financial Statements for the year ended 31 December 2021
Creditors: Amounts falling due within one year
| Payments in advance Sundry creditors |
2021 £ - 11,964 11,964 |
2020 £ 198 16,027 16,225 |
|---|---|---|
7. Capital and Reserves
The Company is limited by guarantee and therefore has no share capital
8. Unrestricted Fund
| Balance at 1stJanuary 2021 Plus: Net Outgoing Resources Frome Historic BT – Window Fund Transfer to Repairing Building Fund Balance at 31 December 2021 |
188,443 35,819 (11,184) (20,000) 193,078 |
|---|---|
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
9