REGISTERED COMPANY NUMBER: 04064228 REGISTERED CHARITY NUMBER: 1092786
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Slough Museum (A Company Limited by Guarantee)
Slough Museum
Contents of the Financial Statements for the year ended 31 March 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Trustees' Report | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
Slough Museum
Reference and Administrative Details for the year ended 31 March 2022
| Trustees | E J Kupfermann (deceased 12/12/2022) |
|---|---|
| Ms M J C Alp | |
| Ms H Ellams | |
| S Humphrey | |
| Ms L Davis (appointed 19/5/2021) | |
| A T B James (appointed 6/7/2021) | |
| Ms V Whitson (appointed 18/5/2021) | |
| Registered office | The Curve |
| William Street | |
| Slough | |
| Berkshire | |
| SL1 1XY | |
| Registered company number | 04064228 |
| Registered charity number | 1092786 |
| Independent examiner | Haines Watts |
| Chartered Accountants | |
| 178 Buckingham Avenue | |
| Slough | |
| Berkshire | |
| SL1 4RD |
Page 1
Slough Museum
Trustees' Report for the year ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the charity.
Objectives and activities
Statement of Purpose
Slough Museum holds the cultural and environmental memory of the town of Slough and the surrounding region and plays an important role in developing a sense of place for people living in the area. To fulfil this role the Museum acquires significant items that document the history and environment of the region and the history of its residents and workers, for the purposes of display, research and learning, and preservation.
In setting our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on fee charging. In setting the level of fees, charges and concessions the trustees give careful consideration to the accessibility of its services to those organisations that seek to further the public benefit in relation to the aims of the charity.
Key Aims
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To collect, document and preserve Slough’s heritage and be accessible to all.
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To create a safe and creative environment which inspires learning and enjoyment.
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To offer formal and informal learning experiences, encouraging engagement with Slough’s past, present and
-
- future.
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To provide exhibitions which are representative of and relevant to Slough’s diverse community.
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To inspire local people to learn about and understand Slough’s heritage and their place within it.
Achievement and performance
This year was a more solidifying year in Slough's history than in recent Slough Museum times. The areas the board have placed its focus has been less about survival and the approach that has been taken includes more strategic decisions to explore for the future. The Museum achieved some real foundation stones for its development and this is due to the ongoing enthusiasm and commitment of the trustees and freelancers involved in Slough Museum.
Museum MOT
In March 2019 we were a successful recipient of the MOT assessment from the Museum Development Office led by the Museum Development Manager Stephen Lowry.
The outcome of the work was a Business Plan which was made up by a Vision, Action Plan and Action budget. This has become the foundational document that the Museum operates within throughout 2020 and was again updated in early 2021 by current trustees. We have operated on this Action Plan with minimal updates through 2021 and 2022. Out of this business plan Slough Borough Council match funded the museum 15K alongside ACE who also supported with an agreement of 15K. The Museum received the match funding from ACE 15K at the end of March 2022.
Action Plan
The jointly funded Action Plan of Slough Borough Council and ACE was recruited for and we appointed three freelancers. 1) A collections specialist. 2) A joint proposal from two freelancers to do project management and volunteer recruitment. The Action Plan as detailed above was developed by Slough Museum Trustees and submitted in spreadsheet form to Slough Borough Council who agreed the methods of delivery. This Action Plan is due to complete in December 2022.
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Slough Museum
Trustees' Report for the year ended 31 March 2022
Creative Junction
In July 2019 Anna Jones and the other Director of Creative Junction offered some pro-bono work to support Slough Museum based on one day a week based on the outcome of the MOT. To do this role Anna Jones stepped down from being a trustee to become a freelance employee. The lockdowns did impact Project 2020 which was completed in March 2022. Anna applied for the freelance post jointly with a colleague Rob to support volunteer recruitment and project management of Slough Museum funded by the Action Plan funded jointly by ACE and Slough Museum. Local community groups helped to audit the collection boxes and their locations within the storage site with Rob and Anna's support preparing for the move to 72 Slough Road on the 14th February 2022.
SEGRO - 893 Plymouth Road and 72 Buckingham Avenue
Based on our growing relationship SEGRO offered us another new space at 72 Buckingham Avenue only a few months after the relocation into 893 Plymouth Road. 72 Buckingham Avenue is a much better venue for a Museum space as it can be used as an exhibition venue and could build on other visitor outreach programmes. The space can be clearly seen from the main road on the Industrial estate for marketing reasons, it is based completely on a ground floor location and there are 14 car spaces attached to the location including a rear space for unloading. The offer of this new venue came late in the summer of 2019 and we started to do the design for a new exhibition space aiming to move early in 2020. Unfortunately, due to COVID19 this delayed our move into our new space and this happened 14th February 2022. We signed terms and conditions on the new building in December 2021. The generosity of SEGRO is very gratefully received and they have refurbished the building to a fantastic standard for the new Museum store and pop-up. In addition the extra funding of 30K to ensure the Museum can survive in the new location arrived in April 2022.
Slough Borough Council
Slough Borough Council generously gave the Museum in 2020 some funding as part of the Cultural Strategy for the redevelopment of the Museum Website. Many of the Museum and the Curve activities that the Museum supported had been forced to move online during COVID19. Slough Borough Council wanted to support the Museum website to be fit for purpose. Liz Jones - remains a big supporter of Slough Museum and has secured a letter of tenure from the Council on the pods for our Museum Accreditation. Unfortunately in 2021, Slough Borough Council went bankrupt so we are unable to look to them for future funding at this time.
Funding
The Museum has a funding sub-committee made up three trustees and one freelancer. All funding decisions go through this sub-committee and then is taken to the wider board of trustees. The sub-committee have developed several funding bids including one which will go to NHLF during 2022 or early 2023.
Accreditation
The Museum submitted Accreditation 31st March 2022. The entire Museum board had been working on the policies, forward plan and procedures needing to be delivered. It was an absolute credit to everyone that they managed to submit during the same month as entire move of the Museum building and collection.
Thanks
The Museum Chair would like to thank some key funders including SEGRO, ACE, Slough Borough Council. We are very grateful to all the trustees, contractors, volunteers, funders, freelancers and stakeholders who have contributed to Slough Museum's survival since 2020. The Museum is now moving forwards at speed into a new world.
Financial review
Reserves policy
The level of reserves held is reviewed on a regular basis by the Trustees. Reserves are required to safeguard the long-term public interest in the collections owned by the Museum in the event of a major disaster or closure due to lack of funding.
As an Accredited Museum (Accreditation Scheme replaced the Registration Scheme in 2006), Slough Museum must be able to demonstrate that it has a sound financial basis irrespective of any valuation placed on the items in the collection. In no circumstances must those items be mortgaged, offered as security for a loan or sold to raise funds for the organisation. There is also a strong presumption against disposal out of the public domain. Disposal should be undertaken only within the strategic framework of a long-term collections management policy, as a means of returning an item to its rightful owner, or improving care, access or context.
The Charity has unrestricted funds of £20,236 at the year end, following new funding bids awarded post year end, the unrestricted funds position is expected to improve and return to a positive position by April 2023.
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Slough Museum
Trustees' Report for the year ended 31 March 2022
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trustees
The Trustees who served the Charity during the year were as follows:
| Ms H Ellams | (Chair) |
|---|---|
| Mr E Kupfermann | (Company Secretary) |
| Mr S Humphrey | |
| Ms M J C Alp | |
| L Davis | appointed 19/05/2021 |
| A T B James | appointed 06/07/2021 |
| V Whitson | appointed 18/05/2021 |
Governance
The Museum is governed by the Board of Trustees who agree and monitor the Business Plan and approve all the Museum’s policies. Trustees are sought for the Board specifically to add value to the Charity. This is both in terms of creating a Board that is representative of the diverse community the Charity serves and one that has all of the skills and experience required to properly carry out the work of the Charity. Part-time staff and project freelancers are accountable to the Heritage Project Manager, who is line-managed by a member of the Trustee Board. Volunteers are managed by the volunteer coordinator, supported by a member of the Trustee Board.
27/01/2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Ms H Ellams - Trustee
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Independent Examiner's Report to the Trustees of Slough Museum
Independent examiner's report to the trustees of Slough Museum ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jonathan Moughton Haines Watts Chartered Accountants 178 Buckingham Avenue Slough Berkshire SL1 4RD 31/01/2023 Date: .............................................
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Slough Museum
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2022
| Unrestricted Restricted fund fund Notes £ £ Income and endowments from Charitable activities Slough Borough Council - 11,200 Arts Council - 13,500 Other funding 2,000 7,330 Segro funding 30,000 - Total 32,000 32,030 Expenditure on Charitable activities Slough Borough Council - 6,606 Other Activites - 10,088 Establishment costs 6,414 - Management and Administration 670 - Arts Council - 7,821 Governance costs 1,890 - Total 8,974 24,515 NET INCOME 23,026 7,515 Reconciliation of funds Total funds brought forward (2,790) 39,810 Total funds carried forward 20,236 47,325 |
2022 Total funds £ 11,200 13,500 9,330 30,000 64,030 6,606 10,088 6,414 670 7,821 1,890 33,489 30,541 37,020 67,561 |
2021 Total funds £ 16,500 13,500 - - |
|---|---|---|
| 30,000 | ||
| - - 2,421 1,923 3,000 1,500 |
||
| 8,844 | ||
| 21,156 15,864 |
||
| 37,020 |
The notes form part of these financial statements
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Slough Museum (Registered number: 04064228)
Balance Sheet 31 March 2022
| Unrestricted Restricted fund fund Notes £ £ Current assets Cash at bank 21,736 47,325 Creditors Amounts falling due within one year 4 (1,500) - Net current assets 20,236 47,325 Total assets less current liabilities 20,236 47,325 NET ASSETS 20,236 47,325 Funds 5 Unrestricted funds Restricted funds Total funds |
2022 Total funds £ 69,061 (1,500) 67,561 67,561 67,561 20,236 47,325 67,561 |
2021 Total funds £ 40,020 (3,000) 37,020 37,020 37,020 (2,790) 39,810 37,020 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 27/01/2023
............................................. H Ellams - Trustee
The notes form part of these financial statements
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Slough Museum
Notes to the Financial Statements for the year ended 31 March 2022
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
The Trustees have reviewed and considered relevant information in making their assessment and have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution.
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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
VAT
As the majority of the charitable company's activities are classified as exempt or non-business activities for the purposes of Value Added Tax, the charitable company is unable to reclaim all the Value Added Tax which it suffers on its purchases. Expenditure in these financial statements is therefore shown inclusive of Value Added Tax.
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 charitable company and which have not been designated for other purposes.
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Slough Museum
Notes to the Financial Statements - continued for the year ended 31 March 2022
1. Accounting policies - continued
Fund accounting
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the charitable company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the charitable company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the charitable company's cash management.
Financial liabilities and equity instruments issued by the charitable company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the charitable company after deducting all of its liabilities.
2. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
3. Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures | |
| and | |
| fittings | |
| £ | |
| Cost | |
| At 1 April 2021 and 31 March 2022 | 28,105 |
| Depreciation | |
| At 1 April 2021 and 31 March 2022 | 28,105 |
| Net book value | |
| At 31 March 2022 | - |
| At 31 March 2021 | - |
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Slough Museum
Notes to the Financial Statements - continued for the year ended 31 March 2022
4. Creditors: amounts falling due within one year
| 4. | Creditors: amounts falling due within one year | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Other creditors | 1,500 | 3,000 | ||
| 5. | Movement in funds | |||
| Net | ||||
| movement | ||||
| At 1/4/21 | in funds | At 31/3/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (2,790) | 23,026 | 20,236 | |
| Restricted funds | ||||
| Restricted funds | 39,810 | 7,515 | 47,325 | |
| TOTAL FUNDS | 37,020 | 30,541 | 67,561 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 32,000 | (8,974) | 23,026 | |
| Restricted funds | ||||
| Restricted funds | 32,030 | (24,515) | 7,515 | |
| TOTAL FUNDS | 64,030 | (33,489) | 30,541 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | ||||
| At 1/4/20 | in funds | At 31/3/21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 3,054 | (5,844) | (2,790) | |
| Restricted funds | ||||
| Restricted funds | 12,810 | 27,000 | 39,810 | |
| TOTAL FUNDS | 15,864 | 21,156 | 37,020 |
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Slough Museum
Notes to the Financial Statements - continued for the year ended 31 March 2022
5. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | (5,844) | (5,844) |
| Restricted funds | |||
| Restricted funds | 30,000 | (3,000) | 27,000 |
| TOTAL FUNDS | 30,000 | (8,844) | 21,156 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/4/20 in funds At £ £ Unrestricted funds General fund 3,054 17,182 Restricted funds Restricted funds 12,810 34,515 TOTAL FUNDS 15,864 51,697 |
31/3/22 £ 20,236 47,325 |
|---|---|
| 67,561 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 32,000 | (14,818) | 17,182 |
| Restricted funds | |||
| Restricted funds | 62,030 | (27,515) | 34,515 |
| TOTAL FUNDS | 94,030 | (42,333) | 51,697 |
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Slough Museum
Notes to the Financial Statements - continued for the year ended 31 March 2022
6. Related party disclosures
There are no related party transactions to be reported.
7. Ultimate controlling party
Each of the company's members undertakes to contribute to the assets of the company in the event of the company being wound up during the time that he is a member or within one year after ceasing to be a member such contributions not exceeding the sum of £10. Further details are included in the company's Memorandum and Articles of Association. There is no overall controlling party of the charitable company.
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