REGISTERED COMPANY NUMBER: 04959445 (England and Wales) REGISTERED CHARITY NUMBER: 1102638
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
FOR
BEXHILL MUSEUM (A COMPANY LIMITED BY GUARANTEE)
Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
BEXHILL MUSEUM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
| Page | Page | Page | |
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 20 |
BEXHILL MUSEUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
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 31st March 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The stated objectives of the charity are to provide a museum in order to promote, maintain, improve and advance the education of the public for their benefit, particularly by the presentation of exhibitions, lectures and other means of study relating to the display of local history, archaeology, history of costume, technology and engineering, the arts, ethnography, geology and social history.
Public benefit
The Trustees have confirmed that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit and in their opinion the foregoing report on the achievements and performance demonstrates that they have complied therewith.
Page 1
BEXHILL MUSEUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
As announced at the AGM, due to expanding family and work commitments, Natalie Tilbury has stepped down as a trustee and as chair. The trustees and membership agreed that Sally Hemmings should take over as chair of Bexhill Museum, and Anne Stacey remain as vice-chair.
New trustees, Beth Stringer, a teaching assistant, Dan Scales, a fundraiser formerly at the De la Warr Pavilion, and Professor Martin Bell, president of the Sussex Archaeological Society, are now making a significant impact on the Museum's work.
Three more trustees are sought, with direct museum sector curatorial experience, experience in education and skills development, and a treasurer. Based on the 2021 Trustees 'Skills Audit', two more may be sought to address sustainability and staff & volunteer HR policy management.
The first challenge of the year was the drafting of the Forward Plan 2024-27. This proposal follows a year of discussions on the board to set new objectives and measurable targets for the Museum as a whole, for the purpose of maintaining its identity as an independent volunteer run organisation.
This work was supported by the establishment in June 2022 of a Development & Finance Sub-Committee, comprised of Dan Scales & Peggy Goodberry, tasked to give extra attention to the business & infrastructure development projects at the heart of the Forward Plan's objectives.
Within the Forward Plan Bexhill Museum will continue as a volunteer-run operation - its work enhanced by museum sector professionals and by volunteer skills development programmes, and directed day by day by the Management Team, with authority clearly delegated to it by the Trustees.
The Plan recognises that we will always have to be self-financing - conventional revenue grant funding is not on offer, and that the money from admissions, shop & café and volunteer fundraising will only just be enough to 'keep the doors open'.
With this in mind we are ringfencing these funds to cover the basics - utilities, building maintenance, security, etc. The costs of actual activities and fixtures & fittings - new exhibitions and displays, and projects such as our schools & lifelong learning programmes - will be funded by other means.
In her introduction to the Forward Plan chair Sally Hemmings wrote: "The museum is vibrant, the volunteers are welcoming, well led, and supported with access to training. The quality of our offer and our contribution to community cohesion can be seen in our visitor comments and online reviews. Our 2023-4 capital projects will lay the foundations for another 100 years of community service and placemaking in Bexhill, providing essential life-long education services and assets for diverse groups and local people of all ages, while adding proven value to Bexhill's visitor economy."
Scores of supporters, members and volunteers have contributed to the running of the Museum, too many to mention here, but we do thank the Chair Sally Hemmings and vice-Chair Anne Stacey for their contributions and the Management Team - Stella Hales-Morris and trustee Gordon Smith, District Curator, Julian Porter, and Secretary of the board of Trustees, Rohan Jayasekera.
We also mourn the loss of several long-time supporters of the Museum, our long serving volunteers Peter Booth, Yvonne Cleland, David Hughes, and Philip Plummer. Our condolences go also to Museum honorary president John Betts, whose wife Diana has also passed away, and to the family of member Jeannette Winter, who kindly left the museum a legacy in her will.
Page 2
BEXHILL MUSEUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
FINANCIAL REVIEW
Financial position
We are pleased to report further progress in our recovery from the lockdown years. The total funds carried forward - the broad 'value' of the charity at the end of the year - is £222,603, a small rise of just under 2% on last year's total, but still an achievement in the current economic environment.
A far greater achievement belongs to the volunteer front of house teams, shop & café coordinators, and the ever-welcoming education and fundraising events teams. Together they have helped increase our on-site visitor numbers to 17,066 and a 23% rise in ticket sales to £26,197 over the year.
In total, combined with the efforts of our generous members, plus general donations, and legacies, we generated £81,911 in unrestricted funds over the year to keep the Museum open to the general public and its collections secure.
Accordingly, we ringfence these unrestricted trading income & volunteer raised funds to cover the core staff & operational expenses needed to safely open the building for our volunteers to meet the expectations of all audiences, six days a week, to the highest possible standards.
Our thousands of visitors from out of town also boost the local economy. The Arts Council agency Museum Development estimates the Museum added £179,961 to Rother's economy in 2021/22, 12.6% more than the regional average. This will have increased by nearly a quarter in 2022/23.
Our education volunteers provided learning and resources to another 3,983 children from 21 different local & East Sussex schools, as well as supporting the Holiday Activities & Food programme, for children who would otherwise be eligible for free school meals in term time.
These are part-funded by grants from the County Council and the Arts Council's Museums & Schools Educational Programme. Joint projects like these, part-funded by outside agencies, devised in partnership with other groups, and run by volunteers, will become key to the Museum's future. These will be restricted funds: delivering the work outlined by the board Action Plan by securing the extra resources needed to expand and improve exhibitions, collections management, care, display & use. These will be provided via a portfolio of carefully designed time-limited projects.
In 2023-4 our financial objectives will be to provide the storage and multi-use spaces needed to accommodate more, and more varied activities. This will require substantial capital funding to create the needed spaces, fixtures & fittings.
Secondly, we will secure funds to introduce the practices and activities, as highlighted by the Board Action Plan, Forward Plan and Arts Council accreditation priorities, to the daily operations of the museum. This will require project funding to put the spaces to new, varied, and productive uses.
Finally, our financial objectives will help establish the partnership, audience development & income generation strategies needed for stable long- term operation up to and beyond 2030. This will require volunteer development programmes to keep the spaces productively operated.
Reserves policy
At the end of March 2022, the General Unrestricted Fund, which represents the funds available for the day-to-day operation of the Museum had settled post-COVID at £39,243. At end March 2023, largely due to significant investment in surveys ahead of 2023-4's projected capital projects but balanced by a small end of year trading surplus, the General Unrestricted Fund fell to £31,625.
Of this amount the rough equivalent of two months' turnover or £15,600 is put aside in a deposit account, to be held 'in the event of an emergency'. That left the Museum at end 2022-23 with an unrestricted funds working balance of £16,025 to add to 2023-24's projected trading revenues of £82,000.
The term 'emergency' is simply defined as the enforced closure of the Museum, when the collection would have to be relocated, offered to other museums, or ethically disposed of, and any liabilities such as legal fees or redundancies covered - bearing in mind that in such circumstances the museum would normally be eligible to make a significant insurance claim to cover such expenses.
Page 3
BEXHILL MUSEUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Company's governing documents are its Memorandum and Articles of Association dated 9 October 2003 and amended by written resolution dated 10 February 2004 and special resolutions dated 3 October 2012 and 20 October 2021. Copies of these documents are available by request. The company is limited by guarantee.
Recruitment and appointment of new trustees
The power of appointing new or additional Trustees is vested in the Trustees. Prior to appointment, new Trustees would be introduced to the workings of the charity, given a role description and advised of their responsibilities.
Organisational structure
The Management Team is appointed by the Trustees and meet weekly to review activities and manage the museum on a day-to-day basis. The group is made up of the volunteer coordinator, Gordon Smith, the Business Support Officer, Rohan Jayasekera, a representative of the Collections Care team, Stella Hales-Morris, and the Curator Julian Porter.
There is currently only one formal staff employee of the Museum, housekeeper Toni Neville, employed part-time for housekeeping duties. Rother District Curator Julian Porter MA is seconded by Rother District Council as Curator to Bexhill Museum. Rohan Jayasekera MSc MA is contracted by the Museum month-by-month on a part-time freelance basis as Business Support Officer.
Risk management
The Trustees have reviewed and identified the risks to which the charity is exposed and have ensured that appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have updated the existing Child Protection Policy to take account of changes in practice regarding the Safeguarding of vulnerable adults.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04959445 (England and Wales)
Registered Charity number
1102638
Registered office
Bexhill Museum Egerton Road Bexhill-on-Sea East Sussex TN39 3HL
Trustees
Dr A G Stacey Mrs G D Bradley P A Goodberry S A Hemmings G R Smith N R Tilbury (resigned 19/10/2022) Dr M G Bell (appointed 5/12/2022) D Scales (appointed 7/12/2022) B Stringer (appointed 7/12/2022)
Patron
Eddie Izzard Honorary President Mr D J Betts Neither the Patron nor Honorary President is an officer of the charity.
Page 4
BEXHILL MUSEUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
R A Jayasekera
Independent Examiner
Samantha Whiting FCA Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
Accountants
Gibbons Mannington & Phipps LLP 20 Eversley Road, Bexhill-on-Sea, East Sussex, TN40 1HE.
Bankers
Barclays Bank plc, Devonshire Road, Bexhill-on-Sea, East Sussex, TN40 1AG.
Approved by order of the board of trustees on 9th August 2023 and signed on its behalf by:
S A Hemmings - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEXHILL MUSEUM
Independent examiner's report to the trustees of Bexhill Museum ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Samantha Whiting FCA
Gibbons Mannington & Phipps LLP 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
23rd August 2023
Page 6
BEXHILL MUSEUM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 15,761 Charitable activities Admission fees 26,197 Education room hire and training 5,853 Royalties from publications 140 Other trading activities 3 25,681 Investment income 4 51 Other income 5 8,228 Total 81,911 EXPENDITURE ON Raising funds 6 13,762 Charitable activities 7 Projects 2,256 Museum expenditure 67,051 Finance and administration services 19,836 Total 102,905 NET INCOME/(EXPENDITURE) (20,994) Transfers between funds 20 (1,500) Net movement in funds (22,494) RECONCILIATION OF FUNDS Total funds brought forward 169,378 TOTAL FUNDS CARRIED FORWARD 146,884 |
Restricted funds £ 44,628 - - - - - - 44,628 - 5,825 13,713 - 19,538 25,090 1,500 26,590 49,129 75,719 |
2023 Total funds £ 60,389 26,197 5,853 140 25,681 51 8,228 126,539 13,762 8,081 80,764 19,836 122,443 4,096 - 4,096 218,507 222,603 |
2022 Total funds £ 89,806 20,768 4,115 132 21,879 51 - 136,751 15,534 6,480 99,951 18,336 140,301 (3,550) - (3,550) 222,057 218,507 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
BEXHILL MUSEUM
BALANCE SHEET 31ST MARCH 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 14 87,090 Heritage assets 15 23,500 Investments 16 2 110,592 CURRENT ASSETS Stocks 17 4,893 Debtors 18 9,729 Cash at bank and in hand 25,354 39,976 CREDITORS Amounts falling due within one year 19 (3,684) NET CURRENT ASSETS 36,292 TOTAL ASSETS LESS CURRENT LIABILITIES 146,884 NET ASSETS 146,884 FUNDS 20 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - 43,369 - 43,369 - 2,000 30,350 32,350 - 32,350 75,719 75,719 |
2023 Total funds £ 87,090 66,869 2 153,961 4,893 11,729 55,704 72,326 (3,684) 68,642 222,603 222,603 146,884 75,719 222,603 |
2022 Total funds £ 101,070 65,621 2 166,693 4,098 7,255 42,527 53,880 (2,066) 51,814 218,507 218,507 169,378 49,129 218,507 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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
-
(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.
The notes form part of these financial statements
continued...
Page 8
BEXHILL MUSEUM
BALANCE SHEET - continued 31ST MARCH 2023
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 9th August 2023 and were signed on its behalf by:
S A Hemmings - Trustee
The notes form part of these financial statements
Page 9
BEXHILL MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
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, with the exception of investments which are included at market value.
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 in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to 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.
Display cases and shelving - 5% on cost Fixtures and fittings - 5% on cost Interactive displays - 20% on cost Computer equipment - 33% on cost
Heritage assets
Acquisitions for the collection since 1st April 2010, whether donated or purchased, are capitalised and recognised in the balance sheet at the cost or value of the acquisition, where such cost or valuation is reasonably obtainable and reliable. Items donated or bequeathed to the Museum's collection are valued by internal valuers if an external valuation for the items is not available. Such items are not depreciated or revalued.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 10
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| Donations Tax recoverable on gift aid Legacy Grants Subscriptions Donations to museum collection Grants received, included in the above, are as follows: Rother District Council - Service level agreement Rother District Council - Covid-19 Business Support East Sussex County Council - Captial project Arts Council: Hastings and Bexhill Museums and Schools Project (via Hastings Council) Arts Council: Insight to Culture Association of Independent Museums South East Creative, Cultural and Digital Sector HMRC CJRS |
2023 £ 11,241 1,970 3,000 40,979 2,151 1,048 60,389 2023 £ 8,500 - 23,500 7,479 1,500 - - - 40,979 |
2022 £ 4,667 261 - 45,910 4,543 34,425 |
|---|---|---|
| 89,806 | ||
| 2022 £ 8,500 25,500 - 6,055 - 5,106 279 470 |
||
| 45,910 |
3.
OTHER TRADING ACTIVITIES
| Shop and cafe income Fund raising income Sale of clothing Other income |
2023 £ 16,239 8,714 378 350 25,681 |
2022 £ 15,927 4,173 1,779 - |
|---|---|---|
| 21,879 |
continued...
Page 11
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
| 4. INVESTMENT INCOME Interest on cash investments 5. OTHER INCOME Museums and Galleries Exhibition tax relief refund Expenditure recharges to Rother District Council 6. RAISING FUNDS Other trading activities Opening stock Purchases Closing stock Fund raising, publicity and other costs 7. CHARITABLE ACTIVITIES COSTS Projects Museum expenditure Finance and administration services 8. DIRECT COSTS OF CHARITABLE ACTIVITIES Conservation Collections, exhibitions and special projects Computer & IT costs Education & lecture costs Subscriptions and conferences Repairs and renewals Advertising & promotion (inc newsletter and website) General rates, water rates, gas, electricity & telephone Cleaner's salary and cleaning consumables Insurance Printing, postage and stationery Volunteer expenses Payroll processing fees Security and fire protection Carried forward |
Direct Costs (see note 8) £ 8,081 76,807 - 84,888 |
2023 £ 51 2023 £ 1,708 6,520 8,228 2023 £ 4,098 12,073 (4,893) 2,484 13,762 Support costs (see note 9) £ - 3,957 19,836 23,793 2023 £ 874 7,207 3,597 3,108 1,044 310 6,178 17,890 7,520 2,665 1,224 140 360 2,547 54,664 |
|||
|---|---|---|---|---|---|
continued...
Page 12
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
8. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued
| 2023 £ Brought forward 54,664 Sundry expenses 50 Travel 2,197 Professional fees 10,172 Displays, signage etc (inc corridor project) 765 Bank charges 446 Card fees 606 Depreciation 15,988 84,888 9. SUPPORT COSTS Governance Management costs £ £ Museum expenditure - 3,957 Finance and administration services 19,836 - 19,836 3,957 Support costs, included in the above, are as follows: Management 2023 Finance and administration services £ Sub contract administrative services 19,836 Governance costs 2023 Museum expenditure £ Accountancy fees 1,680 Independent examiner's fees 432 Legal fees 1,845 3,957 |
2022 £ 43,364 54 245 21,883 22,109 317 333 15,754 104,059 Totals £ 3,957 19,836 23,793 2022 Total activities £ 18,336 2022 Total activities £ 1,680 408 284 2,372 |
|---|---|
continued...
Page 13
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 15,988 | 15,754 |
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
12. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 5,460 | 5,460 |
| Social security costs | 0 | 0 |
| Pensions | 0 | 0 |
| 5,460 | 5,460 | |
| The average monthly number of employees during the year was as follows: |
| STAFF COSTS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 5,460 | 5,460 |
| Social security costs | 0 | 0 |
| Pensions | 0 | 0 |
| 5,460 | 5,460 | |
| The average monthly number of employees during the year was as follows: | ||
2023 |
2022 | |
| Cleaner | 1 | 1 |
| 1 | 1 | |
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 76,284 Charitable activities Admission fees 20,768 Education room hire and training 4,115 Royalties from publications 132 Other trading activities 21,879 Investment income 51 Total 123,229 EXPENDITURE ON Raising funds 15,534 |
Restricted funds £ 13,522 - - - - - 13,522 - |
Total funds £ 89,806 20,768 4,115 132 21,879 51 136,751 15,534 |
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 14
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
| 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ Charitable activities Projects 1,876 Museum expenditure 89,047 Finance and administration services 18,336 Total 124,793 NET INCOME/(EXPENDITURE) (1,564) Transfers between funds 5,106 Net movement in funds 3,542 RECONCILIATION OF FUNDS Total funds brought forward 165,837 TOTAL FUNDS CARRIED FORWARD 169,379 14. TANGIBLE FIXED ASSETS Display Fixtures cases and and Interactive shelving fittings displays £ £ £ COST At 1st April 2022 137,461 111,278 67,717 Additions - 1,515 - At 31st March 2023 137,461 112,793 67,717 DEPRECIATION At 1st April 2022 92,977 58,012 67,717 Charge for year 6,872 5,631 - At 31st March 2023 99,849 63,643 67,717 NET BOOK VALUE At 31st March 2023 37,612 49,150 - At 31st March 2022 44,484 53,266 - |
- continued Restricted funds £ 4,604 10,904 - 15,508 (1,986) (5,106) (7,092) 56,220 49,128 Computer equipment £ 43,936 493 44,429 40,616 3,485 44,101 328 3,320 |
Total funds £ 6,480 99,951 18,336 140,301 (3,550) - (3,550) 222,057 218,507 Totals £ 360,392 2,008 362,400 259,322 15,988 275,310 87,090 101,070 |
|---|---|---|
continued...
Page 15
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
15. HERITAGE ASSETS
| MARKET VALUE At 1st April 2022 Additions - donated At 31st March 2023 NET BOOK VALUE At 31st March 2023 At 31st March 2022 |
Total £ 65,621 1,248 |
|---|---|
| 66,869 | |
| 66,869 | |
| 65,621 |
As set out in note 1, the balance shown here only reflects the acquisitions for the collection since 1 April 2010. The valuation of the donated items are carried out by the Museum's Curator.
Five year financial summary of heritage asset transactions
| 2022/23 | 2021/22 | 2020/21 | 2019/20 | 2018/19 | |
|---|---|---|---|---|---|
| Purchases | 200 | 0 | 0 | 0 | 0 |
| Donations | 1,048 | 25,662 | 851 | 951 | 1,390 |
| Total additions | 1,248 | 25,662 | 851 | 951 | 1,390 |
| Disposal | 0 | 0 | 0 | 0 | 0 |
16. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1st April 2022 and 31st March 2023 | 2 |
| NET BOOK VALUE | |
| At 31st March 2023 | 2 |
| At 31st March 2022 | 2 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Bexhill Museum Trading Limited
Registered office: Bexhill Museum, Egerton Road, Bexhill-on-Sea, East Sussex, TN39 3HL Nature of business: Dormant company
| % | |||
|---|---|---|---|
| Class of share: | holding | ||
| Ordinary | 100 | ||
| 31/3/23 | 31/3/22 | ||
| £ | £ | ||
| Aggregate capital and reserves | 2 | 2 |
The Society owns 100% of the issued share capital of Bexhill Museums Trading Limited. Its capital consists of 2 £1 shares both of which have been issued at par.
continued...
Page 16
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
16. FIXED ASSET INVESTMENTS - continued
Bexhill Museum Trading Limited ceased trading on 31 March 2019 and is currently dormant.
17. STOCKS
| Stocks 18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Grant receivable Other debtors 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts owed to group undertakings Other creditors 20. MOVEMENT IN FUNDS Net movement At 1/4/22 in funds £ £ Unrestricted funds General fund 39,243 (4,110) Tangible fixed assets designated fund 101,070 (15,988) Collection acquisitions designated fund 23,300 - Elva repairs designated fund 100 - Bexhills lost world development project designated fund 4,057 - Costumes designated fund 1,608 (896) 169,378 (20,994) Restricted funds Collection acquisitions fund 42,321 1,048 Local research 281 - Capital works project - 19,223 Museum in a box 168 - Izzard family train set 134 6,832 Piano 654 - Museum and schools 2,265 518 InSight to Culture 3,306 (2,531) 49,129 25,090 TOTAL FUNDS 218,507 4,096 |
||
|---|---|---|
continued...
Page 17
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
20. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Tangible fixed assets designated fund Costumes designated fund Restricted funds Collection acquisitions fund Capital works project Izzard family train set Museum and schools InSight to Culture TOTAL FUNDS |
Incoming resources £ 81,911 - - 81,911 1,048 23,499 10,500 7,480 2,101 44,628 126,539 |
Resources expended £ (86,021) (15,988) (896) (102,905) - (4,276) (3,668) (6,962) (4,632) (19,538) (122,443) |
Movement in funds £ (4,110) (15,988) (896) (20,994) 1,048 19,223 6,832 518 (2,531) 25,090 4,096 |
|---|---|---|---|
Comparatives for movement in funds
| Net | Transfers | Transfers | |||
|---|---|---|---|---|---|
| movement | between | At | |||
| At 1/4/21 | in funds | funds | 31/3/22 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 45,496 | (5,798) | (455) | 39,243 | |
| Tangible fixed assets designated fund | 102,500 | (6,991) | 5,561 | 101,070 | |
| Collection acquisitions designated | |||||
| fund | - | 23,300 | - | 23,300 | |
| Elva repairs designated fund | 500 | (400) | - | 100 | |
| Bexhills lost world development | |||||
| project designated fund | 17,341 | (13,284) | - | 4,057 | |
| Costumes designated fund | - | 1,608 | - | 1,608 | |
| 165,837 | (1,565) | 5,106 | 169,378 | ||
| Restricted funds | |||||
| Collection acquisitions fund | 39,959 | 2,362 | - | 42,321 | |
| Local research | 281 | - | - | 281 | |
| Museum in a box | 168 | - | - | 168 | |
| Izzard family train set | 3,403 | (3,269) | - | 134 | |
| Piano | 654 | - | - | 654 | |
| Museum and schools | - | 2,265 | - | 2,265 | |
| InSight to Culture | 11,755 | (8,449) | - | 3,306 | |
| Dehumidifiers | - | 5,106 | (5,106) | - | |
| 56,220 | (1,985) | (5,106) | 49,129 | ||
| TOTAL FUNDS | 222,057 | (3,550) | - | 218,507 |
continued...
Page 18
BEXHILL MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
20. 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 | 89,166 | (94,964) | (5,798) |
| Tangible fixed assets designated fund | 8,763 | (15,754) | (6,991) |
| Collection acquisitions designated | |||
| fund | 23,300 | - | 23,300 |
| Elva repairs designated fund | - | (400) | (400) |
| Bexhills lost world development | |||
| project designated fund | - | (13,284) | (13,284) |
| Costumes designated fund | 2,000 | (392) | 1,608 |
| 123,229 | (124,794) | (1,565) | |
| Restricted funds | |||
| Collection acquisitions fund | 2,362 | - | 2,362 |
| Izzard family train set | - | (3,269) | (3,269) |
| Museum and schools | 6,055 | (3,790) | 2,265 |
| InSight to Culture | (1) | (8,448) | (8,449) |
| Dehumidifiers | 5,106 | - | 5,106 |
| 13,522 | (15,507) | (1,985) | |
| TOTAL FUNDS | 136,751 | (140,301) | (3,550) |
Designated funds
The tangible fixed assets fund represents the value of the fixed assets held by the charity.
The Collection acquisitions designated fund represents the estimated cost of items donated to the museum and the actual cost of items purchased by the museum, since 2010, for items which the trustees have the power to dispose of at their discretion. During the year over 50 items were donated to the museum.
The Elva repairs fund is money designated for repairs to the Elva car.
Bexhill's lost world development project fund is monies designated from the receipt of a legacy in 2016 towards an extension to the museum.
The Costumes fund is made up of a donation of £2,000 which was designated towards the costs relating to the costumes held by the museum.
Restricted funds
The Collection acquisitions restricted fund represents the estimated cost of items donated to the museum and the actual cost of items purchased by the museum, since 2010. During the year over 100 items were donated to the museum.
The Local research fund represents donations towards local research costs.
The Museum in a box fund is the balance of funds received for the museum in a box project.
The Izzard family train set fund is monies received towards the upkeep, improvement and changes to the layout of the model train set display.
The piano fund is made up of donations for the ongoing costs of maintaining the piano.
The InSight to Culture fund is a grant from the Arts Council for that project.
continued...
Page 19
BEXHILL MUSEUM NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
20. MOVEMENT IN FUNDS - continued
A major project for the stripping out and refitting of the semi-derelict basement stores and other works around the building commenced in the year and funds have been received for this purpose so a Capital Project fund has been set up for these funds to be held until they have been spent.
Transfers between funds
Assets have been purchased using unrestricted funds so a transfer was made from the General fund to the Tangible fixed assets designated fund for the cost of these assets.
During 2021/22 a grant of £1,500 was received towards the capital project restricted fund. This has therefore been transferred to this fund during 2022/23.
The Costumes designated fund purchased a heritage asset in the year so the cost (£200) has been transferred to the designated heritage assets fund.
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2023.
22. LIMITED LIABILITY OF MEMBERS
The liability of the members is limited.
Every member of the charity undertakes to contribute to the assets of the charity in the event of the same being wound up while he/she is still a member or within one year after he/she ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of rights of the contributories amongst themselves such amount as may be required, not exceeding £1.
Page 20