THE FROME MUSEUM
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Company Information
| President |
HM Daniel |
|---|---|
| Trustees | MN Maggs (Chair) |
| Dr RG Heath (Vice Chair) | |
| RA Cuzner | |
| Ms CM DeGroot | |
| BJ Marshall | |
| Ms A Pater | |
| Company Secretary | BJ Marshall |
| Operations Committee | Trustees are all_ex officio_Members |
| BP Edwards | |
| JG Hedges | |
| V Lamb | |
| M Pattinson | |
| J Ryman | |
| C Wisbey | |
| Registered Office | 1 North Parade |
| Frome | |
| Somerset | |
| BA11 1AT | |
| Independent Examiner | AA Liggatt FCA |
| 16 Sunny Hill | |
| Nunney | |
| Frome | |
| Somerset | |
| BA11 4ND | |
| Company No | 2377177 |
| Registered Charity No | 1091103 |
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THE FROME MUSEUM
Contents
| Page | |
|---|---|
| Independent Examiner’s Report | 3 |
| Trustees’ Report | 4 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 – 10 |
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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 2024, which are set out on pages 4 – 10.
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
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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:
-
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 8[th] April 2025
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THE FROME MUSEUM
Annual Report of the Trustees 2024 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. As at 31 December 2024 the composition of the Trustees was as follows:
M Maggs (Chair) Dr RG Heath (Vice Chair) RA Cuzner Ms CM DeGroot BJ Marshall Ms A Pater
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 £168,828 are held in four separate funds.
| Unrestricted fund | £91,624 |
|---|---|
| Repairing Building Fund | £45,000 |
| Designated fund for replacing windows which includes FHBT Donation | £30,184 |
| Rebranding Fund | £ 2,020 |
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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.
e: to provide a library service and information on Frome and District
Main Activities and Achievements of the Charity during the Year
Work continued throughout the year on our accreditation return, due to be lodged in 2025, including a detailed review and updating of all of the charity's formal policies, procedures and plans. As part of the process, a new Statement of Purpose and Vision were approved in July 2024, as follows:
Statement of Purpose:
Operating a museum and library to foster an interest by local people and visitors in the history and culture of Frome and its surrounding area.
Vision:
To establish Frome Museum as a central hub of local history and culture, a centre of excellence for local history research, and a pivotal visitor attraction.
During the 2023/24 winter closure, we took the opportunity to re-paint and re-carpet the Lower Gallery, install new lighting, refresh some of the permanent displays, clean and represent the farming and milk/cheese exhibits above the shops, create a dressing-up corner with new costumes and an activity area for children, and fully open the chemists shop to visitors with new cabinet lighting, displays and signage.
We have during the year undertaken two significant pieces of work with museum professionals and local organisations to understand our key audiences and visitors with disabilities. The results will feature in our updated Forward Plan.
Further highlights of the year include higher exhibition standards, renewed focus on children and school groups, with more school visits, as well as significant efforts to work in partnership with Town Council and a wide variety of local community organisations.
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Exhibitions and temporary displays during 2024 included Window Wanderland displays, Marston fire engine, Focus on our Archives, D-Day, local archaeology displays, exhibition and displays by Artists in Residence (with Black Swan Arts), Worn Out in Frome (costume; also window displays in empty shop in Cheap Street), Frome Cinema, Memorial Theatre centenary, Fun at the Museum day (with Town Council support), and the Christmas event.
The museum took part in Heritage Open Day (including Hidden Frome walk), and supported the annual Festival of Archaeology with a Finds Day attended by the Finds Officer for Somerset.
The IT team completed their long-term programme to migrate our entire collections database from Adlib to the new more modern Axiell Collections platform. Our 'Behind the Scenes' tours remained popular.
Acknowledgements:
The Trustees sincerely thank the volunteers and other friends of the Museum for their support.
On behalf of the Trustees
M N Maggs – Chair, Board of Trustees
Dated: 9 March 2025
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THE FROME MUSEUM
Statement of Financial Activities for the year ended 31 December 2024
| 2024 £ Incoming Resources Rents 26,628 Legacy - Grants 6,250 Donations 6,150 Gift Aid 1,141 Sales 1,926 Building Society Interest 2,995 Resources Expended Business Rates - Telephone and internet 5,126 Purchases for re-sale 730 Water rates 290 Heating and lighting 13,465 Insurance 2,618 Printing, postage and stationery 522 Subscriptions and fees 231 Company registration fee 13 Maintenance and repairs 18,054 Equipment (other than IT) 975 Professional fees other than C & T 8,225 Cooper and Tanner Fees 4,355 Depreciation 2,854 Rebrading 12,981 Stock of Publications Written Off - Cleaning 870 New Website 600 Additions to collection 420 Hospitality 121 Sundry 771 Exhibition costs 1.591 Travel costs - IT Support Services 9,871 Net Outgoing Resources for the year |
45,090 84,683 -39,593 |
2023 £ 24,224 5,000 - 4,584 408 2,889 1,563 -31 4,382 893 216 5,570 2,551 467 329 13 9,706 937 4,149 3,960 3,300 - 2,431 406 480 - 116 641 - 54 4,790 |
38,668 45,360 -6,692 |
|---|---|---|---|
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THE FROME MUSEUM
Balance Sheet as at 31 December 2024
| 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 Windows Fund Rebranding Fund 9 Repairing Building Fund Totals |
2024 £ 130,262 1,094 6,300 49,482 56,876 (18,310) 38,566 168,828 91,624 30,184 2,020 45,000 168,828 |
2023 £ 132,169 1,150 4,960 81,541 87,651 (11,399) 76,252 208,421 118,237 30,184 15,000 45,000 208,421 |
|---|---|---|
Exemption from Audit
For the year ended 31 December 2024 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 2024.
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 9th March 2025 and signed on their behalf by:
M N Maggs - Chairman of the Trustees
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THE FROME MUSEUM
Notes to the Financial Statements for the year ended 31 December 2024
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
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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.
-
(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 (2023: £54)
3. Staff Costs
Staff Costs were nil (2023: nil)
4. Independent Examiner’s Report
The cost of the Independent Examiner’s Report was £400 (2023 £400)
5. Tangible Fixed Assets
| Freehold Property | Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| At 1 January 2024 | 117,407 | 55,153 | 172,560 |
| Additions | 0 | 947 | 947 |
| 117,407 | 56,100 | 173,507 | |
| Depreciation | |||
| At 1 January 2024 | - | 40,391 | 40,391 |
| Charge for year | -. | 2,854 | 2,854 |
| -. | 43,245 | 43,245 | |
| Net book value | |||
| At 31 December 2024 | 117,407 | 12,855 | 130,262 |
| At 31 December 2023 | 117,407 | 14,762 | 132,169 |
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 2024
- Creditors: Amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Sundry creditors | 18,310 | 11,399 |
| 18,310 | 11,399 |
7. Capital and Reserves
The Company is limited by guarantee and therefore has no share capital
8. Unrestricted Fund
| Balance as at 1st January 2024 | 118,237 |
|---|---|
| Net Outgoing Resources | 26,613 |
| Balance as at 31st December 2024 | 91,624 |
| 9. | Re-brading Fund | |
|---|---|---|
| Balance as at 1st January 2024 | 15,000 | |
| Net Outgoing Resources | 12,980 | |
| Balance as at 31st December 2024 | 2,020 |
10. 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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