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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 04265110 (England and Wales)
REGISTERED CHARITY NUMBER: 1093763

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

HAVERING MUSEUM LIMITED

Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN
HAVERING MUSEUM LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

Page Page Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12
HAVERING MUSEUM LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2024.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Theobjectivesaretoeducatethepublicbypromotion,support,assistanceandimprovementof the
HaveringMuseum.Thepoliciesadoptedinfurtheranceoftheseobjectiveshavenotchangedduring the
year.ThecharitywasformedtoadministerandruntheHaveringMuseumlocatedat19-21High Street,
Romford,Essex,RM11JU.TheBoardofDirectorshaspaiddueregardtoguidanceissuedbythe Charity
Commissionindecidingwhatactivitiesthecharityshouldundertake.Thecharity'sprimary activity
throughout the year was the administration and promotion of the Havering Museum.

Achievements and performance

Theorganisationcontinuestobenefitfromacommittedvolunteerbase,withindividualscarryingout vital
work to develop the work of the museum both in important front-line roles and at a Board level.
DuringtheyeartheLondonBoroughofHaveringcommissionedustodesignandpresenteventsat local
shelteredaccommodation.Thesewerewellreceivedandgeneratedincomeandraisedawarenessof the
activities available at the museum.
Themuseumwasalsoproactivelyworkingwithlocalschools,providingmuseumcreativevisits and
visitingtheschools.Wehavealsodevelopedourverypopularloanboxesforschoolsandorganised 7
freemuseumvisitsforschools,complimentsoftwoofoursponsors.Thesefreevisitswere greatly
appreciated by the schools.
Ourregularweeklyreminiscenceeventsandmonthlyphotographysessionscontinuetogrowin numbers
andreceivedpositivefeedback.Overtheyearwehaveseenmanynewvisitorstothemuseum,which is
inpart,attributedtoourdiversevibranteventsprogrammes,whichincludedartappreciation.Arange of
localartistsexhibitedandourphotographicgroupputontheirannualexhibition.Elementsof the
galleries have been refreshed.
TheBoardreceivedtheStrategicReviewfromFocusConsultantsandhaveimplementedmanyof their
recommendations.Oneoftheserecommendationswastorevisitthecurrentaudiencedevelopment plan
andre-engagewiththeotherheritage,businessesandeducationorganisations.Aspartofthis project
further outreach projects took place with families and work was undertaken with Havering College.

FINANCIAL REVIEW

Financial position

Thecharityhasgeneratedincomingresourcesof£42,047(2023:£39,426)andanetsurplusof £6,443
(2023:£4,106)resultedafterdeductingallrelatedexpenditure.Theincomeincludesnormal museum
activitiessuchasadmissions,roomhiresandschoolvisitandalsodonations,sponsorshipsand grant
moniesawardedforspecificpurposesi.e.,amuseumStrategicReviewandanewmuseum exhibition
display.Thecostsof£35,604(2023:£35,320)relatedtobothoperationalandadministrative costs
includingutilities,repairsandmaintenanceandinsuranceandalsotoone-offexpenditureon undertaking
the Strategic Review and establishing a new Romford Brewery display.
TheBoardofDirectorshaveassessedthemajorriskstowhichthecharityisexposedandare satisfied
that systems are in place to mitigate exposure to these risks.

Reserves policy

Itisthepolicyofthecharitythatunrestrictedfundswhichhavenotbeendesignatedforaspecific use
shouldbemaintainedatalevelequivalenttoatleastthreemonth'sexpenditure.TheBoardof Directors
considerthatreservesatthislevelwillensurethat,intheeventofasignificantdropinfunding,they will
beabletocontinuethecharity'scurrentactivitieswhileconsiderationisgiventowaysinwhich additional
funds may be raised. This level of reserves has been maintained.
Page 1
HAVERING MUSEUM LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

FINANCIAL REVIEW

Going concern

Reducedresourcinghasbeenasignificantchallengethisyearbutduetotheflexibilityandhardwork of
thevolunteersandBoard,themuseumisstillpositivelymovingforward.Theideasfromthe audience
developmentworkwillhelptoattractmorevolunteersandmorediversevisitors.Fundingintheform of
grantswillbesoughttoimplementsomeoftherecommendationsfromboththeStrategicReview and
AudienceDevelopmentProject.Timeandfundingwillnowbeneededtocollateallthe different
recommendations and move us forward with a new business plan.

Partnerships

Thelocalbusinesscommunityhasbeen,asalways,outstandingintheirpersonalsupportforthe activities
of the Museum and groups.
 Our sponsors / partners are:
Moore Kingston Smith - Education programme and leaflet - free school visits
Mullis & Peake - Reminiscence Group
Clemence Hoar Cummings Variety Club - free school visits
Tesco, Gallows Corner - Easter and Christmas Family event sponsorship
Friends of Havering Museum - Purchase of equipment.
WecontinuetobeactivelyinvolvedasamemberoftheDiscoverMepartnershipandwewouldlike to
acknowledge the help and advice provided by Valence House Museum.
TheLondonBoroughofHaveringhascontinuedtoactivelysupporttheMuseumandprovidedadvice and
guidancealsoonavarietyoftopicswhichwegreatlyappreciate.Wecontinueourpartnership with
HaveringCollegeStudentsUnion,AbellioGreaterAngliaTrains,DaysOut/EssexTouristin providing
discount tickets.

FUTURE PLANS

Therehavebeenanumberofchangesofpersonnelovertheyear.OurpreviousChair,Jan Shingleton,
steppeddownatour2024AGM,afterverymanyyearsofservicetothemuseum,andAndrew Curtin
took over as Chair.
TheBoardislookingtorecruitadditionaldirectorsandvolunteerstofacethenextfewyears challenges
and opportunities.
Wewillbevigorouslypursuingdifferentrevenuestreamstocontributetomovingthemuseumforward to
enhance our marketing, customer experience, footfall, income and strengthening our policies.
InJune2025themuseumwillbecelebratingits15yearanniversary.Thisisthankstoallthe Board,
volunteers,sponsors,businesscommunityandvisitors.Theyhaveenthusiasticallysupported the
museumandallitsactivitiesandhelpedusovercomesignificantchallenges,overtheseyears.The next
few years will be challenging but we look forward positively to all the opportunities it will also give us.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04265110 (England and Wales)

Registered Charity number

1093763

Registered office

Havering Museum
19-21 High Street
Romford
Essex
RM1 1JU
Page 2
HAVERING MUSEUM LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024

Trustees

B D Evans
J R Garnell (resigned 17.10.24)
J A Shingleton - Chair (from 27 January 2023) (resigned 17.10.24)
L K Westwood (resigned 19.12.24)
A S Curtin - Chair (from 17 October 2024)
P A Young (resigned 31.8.24)
N A H Wilkes
S Boersma (resigned 22.1.24)
E J McKiernan
J Keane (appointed 3.10.24)
P J Hale (appointed 19.12.24)

Independent Examiner

Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN
Approvedbyorderoftheboardoftrusteeson.............................................andsignedonits behalf
by:
.......................................................
A S Curtin - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

HAVERING MUSEUM LIMITED

Independent examiner's report to the trustees of Havering Museum Limited ('the Company')

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31st March 2024.

Responsibilities and basis of report

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunder Section
145(5) (b) of the 2011 Act.

Independent examiner's statement

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:

1. 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

3. 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

4. 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Lee Blunden FCCA CTA
Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN
Date: .............................................
Page 4
HAVERING MUSEUM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
31,518
Charitable activities
5
Admissions and promotion
9,785
Other trading activities
3
241
Investment income
4
503
Other income
-
Total
42,047
EXPENDITURE ON
Raising funds
6
6,768
Charitable activities
Admissions and promotion
28,836
Total
35,604
NET INCOME
6,443
RECONCILIATION OF FUNDS
Total funds brought forward
142,975
TOTAL FUNDS CARRIED FORWARD
149,418
Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
2024
Total
funds
£
31,518
9,785
241
503
-
42,047
6,768
28,836
35,604
6,443
142,975
149,418
2023
Total
funds
£
10,802
13,965
564
251
13,844
39,426
6,654
28,666
35,320
4,106
138,869
142,975
The notes form part of these financial statements
Page 5
HAVERING MUSEUM LIMITED

STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
1,753
CURRENT ASSETS
Stocks
11
1,039
Debtors
12
7,422
Cash at bank and in hand
140,910
149,371
CREDITORS
Amounts falling due within one year
13
(1,706)
NET CURRENT ASSETS
147,665
TOTAL ASSETS LESS CURRENT
LIABILITIES
149,418
NET ASSETS
149,418
FUNDS
14
Unrestricted funds
TOTAL FUNDS
Restricted
fund
£
-
-
-
-
-
-
-
-
-
2024
Total
funds
£
1,753
1,039
7,422
140,910
149,371
(1,706)
147,665
149,418
149,418
149,418
149,418
2023
Total
funds
£
1,925
1,026
5,210
138,737
144,973
(3,923)
141,050
142,975
142,975
142,975
142,975
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31st March 2024.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
A S Curtin - Trustee
The notes form part of these financial statements
Page 6
HAVERING MUSEUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statements have been prepared under the historical cost convention.

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Fixtures and fittings- 33% on cost

Stocks

Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for
obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Donated services and facilities
2024
£
30,131
1,387
31,518
2023
£
9,612
1,190
10,802
continued...
Page 7
HAVERING MUSEUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

3.
OTHER TRADING ACTIVITIES
Shop income
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Admissions
Admissions and promotion
6.
RAISING FUNDS
Other trading activities
Staging fundraising events
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
2024
£
241
2024
£
503
2024
£
9,785
2024
£
6,768
2024
£
1,120
2023
£
564
2023
£
251
2023
£
13,965
2023
£
564
2023
£
251
2023
£
6,654
2023
£
754

8. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2024nor for
the year ended 31st March 2023.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31stMarch2024norfortheyear ended
31st March 2023.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
10,802
Charitable activities
Admissions and promotion
13,965
Other trading activities
564
Investment income
251
Other income
13,844
Total
39,426
Restricted
fund
£
-
-
-
-
-
-
Total
funds
£
10,802
13,965
564
251
13,844
39,426
continued...
Page 8
HAVERING MUSEUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£ £ £
EXPENDITURE ON
Raising funds 6,654 - 6,654
Charitable activities
Admissions and promotion 28,666 - 28,666
Total 35,320 - 35,320
NET INCOME 4,106 - 4,106
RECONCILIATION OF FUNDS
Total funds brought forward 138,869 - 138,869
TOTAL FUNDS CARRIED FORWARD 142,975 - 142,975
10. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1st April 2023 19,516
Additions 948
At 31st March 2024 20,464
DEPRECIATION
At 1st April 2023 17,591
Charge for year 1,120
At 31st March 2024 18,711
NET BOOK VALUE
At 31st March 2024 1,753
At 31st March 2023 1,925
11. STOCKS
2024 2023
£ £
Finished goods 1,039 1,026
continued...
Page 9
HAVERING MUSEUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
VAT
Prepayments
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Accrued expenses
2024
£
3,339
-
4,083
7,422
2024
£
292
14
1,400
1,706
2023
£
1,567
172
3,471
5,210
2023
£
2,967
-
956
3,923

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14.MOVEMENT IN FUNDS
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Heritage Lottery fund
Designated fund
TOTAL FUNDS
At 1.4.23
£
118,488
24,487
-
142,975
142,975
Net
movement
in funds
£
6,443
-
-
6,443
6,443
Transfers
between
funds
£
(20,000)
-
20,000
-
-
At
31.3.24
£
104,931
24,487
20,000
149,418
149,418
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Incoming
resources
£
42,047
42,047
Resources
Movement
expended
in funds
£
£
(35,604)
6,443
(35,604)
6,443

Comparatives for movement in funds

Unrestricted funds
General fund
Heritage Lottery fund
TOTAL FUNDS
At 1.4.22
£
114,382
24,487
138,869
138,869
Net
movement
in funds
£
4,106
-
4,106
4,106
At
31.3.23
£
118,488
24,487
142,975
142,975
continued...
Page 10
HAVERING MUSEUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
39,426
(35,320)
4,106
39,426
(35,320)
4,106

Heritage Lottery Fund

Thisfundhadanopeningbalanceof£24,487.Duringtheyearnoneofgrantfundshave been
expended,leavingaremainingbalanceof£24,487.Thisprojectistofacilitatethe continued
developmentofthemuseumwhichincludesmarketing,maintenanceanddevelopmentof new
projects, training, enhancing customer experience and collections.

Designated Fund

Aoneoffdonationwasmadefromoneofthemuseum'sfoundingmembersduringtheyear. The
Trusteeswishtodesignatethefunds,sothattheycanbeusedforaspecificpurpose,rather than
to cover operational expenditure. The purpose is as yet undecided.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2024 (2023: nil)
Page 11
HAVERING MUSEUM LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Donated services and facilities
Other trading activities
Shop income
Investment income
Deposit account interest
Charitable activities
Admissions
Other income
Government grants
Total incoming resources
EXPENDITURE
Other trading activities
Staging fundraising events
Charitable activities
Repairs and maintenance
Cleaning
Light and heat
Computer costs
Postage and stationery
Insurance
Sundries
Subscriptions
Irrecoverable VAT
Depreciation of tangible fixed assets
Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net income
2024
£
30,131
1,387
31,518
241
503
9,785
-
42,047
6,768
2,135
2,049
7,034
2,931
1,389
2,775
1,583
-
3,281
1,120
24,297
4,539
35,604
6,443
2023
£
9,612
1,190
10,802
564
251
13,965
13,844
39,426
6,654
5,136
(870)
4,901
2,293
1,577
3,072
714
24
-
754
17,601
11,065
35,320
4,106
This page does not form part of the statutory financial statements
Page 12