REGISTERED COMPANY NUMBER: 05114387 (England and Wales)
REGISTERED CHARITY NUMBER: 1106238
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR
SCARBOROUGH MUSEUMS TRUST
Fortus Audit LLP
Chartered Accountants & Statutory Auditors
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
SCARBOROUGH MUSEUMS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2021
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Report of the Trustees |
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Report of the Independent Auditors |
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Statement of Financial Activities |
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9 |
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Balance Sheet |
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10 |
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Cash Flow Statement |
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11 |
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Notes to the Cash Flow Statement |
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Notes to the Financial Statements |
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SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES For The Year Ended 31 March 2021
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatements ofthe charityforthe yearended31March2021.The trusteeshaveadoptedthe provisionsof Accounting
andReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththe FinancialReportingStandardapplicableinthe UKandRepublicofIreland(FRS 102) (effective 1 January
2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheTrust'scharitableobjectivesare"Toadvancetheeducationofthepublicinarchaeology,history,natural sciences,
decorative and fine arts, antiquities and related disciplines by:
-the establishment and maintenance of a museum and an art gallery in the Borough of
Scarborough
-promoting and encouraging scientific research by the disseminating of information and
knowledge
-promoting the preservation, access to and display of the Items, groupings, displays and
collections for the benefit of the public in the Borough of Scarborough and elsewhere
-Such other charitable purposes beneficial to the community consistent with the objects as the
Trustees in their absolute discretion determine
ScarboroughBoroughCounciltransferredresponsibilityforthedeliveryoftheMuseumsandGalleryServiceand the
managementofthecouncil'scollectionstotheTruston1stJanuary2008foraninitialperiodof30years.Duringitsearly years
theTrustfocusedonconsolidatingthepositionsincethereopeningoftheRotundaMuseumin2008andthetransferof all
management responsibilities to the Trust.
The Strategic Plan
The revised strategic plan covers the period 2017-2022.
Mission & Purpose:
Connecting communities with time, in space
"ScarboroughMuseumsTrustcaresfor,developsandinterpretscollections,informationandassetsentrustedtous.Weaim to
understandmoreabouttheBorough'spastandpresentinordertohelpshapethefuture,encourageparticipation and
provide the best possible experience to our current constituents and leave an enhanced legacy for future generations"
Vision:
"By2022ScarboroughMuseumsTrustwillberecognised,supportedandacknowledgedasthemostcomprehensive, trusted
andaccessibleresourceonthe history,heritageandcultureofthe Borough.Ourexpertisein,anddevelopmentof, significant
collections and information will, by 2022, secure Scarborough as a centre of excellence in geology and prehistory".
Values:
Excellence. Integrity. Challenge. Creativity
Strategic Themes:
Theme 1. Enhancing and promoting collections/heritage assets
Theme 2. Enabling access, facilitating learning and raising awareness
Theme 3. Engaged communities
Theme 4. Audiences, visitors and stakeholders
Theme 5. Positioning Scarborough
Theme 6. Governance and leadership
Page 1
SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2021
OBJECTIVES AND ACTIVITIES Significant activities
Introduction from the Chair of Trustees
2020and2021areyearsthatwewillnotforget.MuseumservicesthroughouttheUKwerenotimmunefromthe COVID
pandemic, not least in Scarborough where Scarborough Museums Trust (SMT) adapted quickly to the ever-changing situation.
Theimplicationsweresignificant,anddecisionshadtobemadethateffectedbothstaff,volunteersandvisitors.Itwas also
clearthat therewouldbefinancialimpactssuchasthe collapseofadmissionchargesandincomefromSMT'sretail activities,
although these were mitigated, to a certain extent, by the Government's furlough scheme.
SMTdidnotstandstillhowever,andthe charitycontinuedfunctioning,albeitwithmanagementstaffworkingfromhome and
the venuesclosed.Workcontinuedbehindthe scenesandinfact the closureofthe venuesenabledalternativeworkplans to
be implemented, including designing new learning programmes and commissioning online video artwork.
SMTwasalsoabletoreviewandimplementnewstrategicpriorities,someofwhichreflectandanticipateapost pandemic
World. These comprise:
-
Democratising the collection
-
De-colonising the collection
-
Access and inclusion
-
Supporting the creative industries
-
Environmental sustainability
TheTrusteescontinuedmeetingviaZoomwhichenabledtheCEOtosupporttheChairinensuringgovernance measures
were maintained.
Merger
The mergerbetweenSMTandthe CreativeIndustriesTrustLtd(CICTrustLtd)remainedaprioritythroughoutthe financial year.
NegotiationscontinuedwithScarboroughBoroughCouncil.Theprincipaldocumentsarearevisedservicelevel agreement
andnewleasesfortheRotunda,ScarboroughandArtGalleryandWoodendCreativeWorkspace.Whenthe merger
happens,theCICTrustLtdwillbecomeawhollyownedsubsidiaryofSMTandwillfocusoncommercialand income
generatingactivitiessuchasserviceofficeaccommodation,retail,food&drink.Incomewillalsobederivedfrom the
collection including the sale of reproductions of works of art under the care of SMT.
Public benefit
As acharity,andwithregardto CharityCommissionguidance,the trustees recognisethe Trust'sduty to carryout its operations
forthe benefitofthe public.Inparticularthe trusteesconsiderthat the workofthe Trust inthe lastyearhasadvancedthe arts,
culture and heritage of the Borough of Scarborough and its region for the benefit of a broad audience.
Page 2
SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE Charitable activities
Venues
TheRotundaandArtGallerywereclosedtothepublicbetween23rdMarch-1stJuneand5thNovemberand 2nd
December.Thiswasachallengingtime,particularlyforfront-of-housestaff,butalsoatimeforreflectionwhen curatorial,
collectionandlearningstaffcouldbegintoquestiontheroleandrelevanceofthetraditionalmuseumofferina changing
environment.Anessentialpartofthere-openingprocesswastoensureSMT'sspacesweresafeplacessoinitiativessuch as
Visit England's Good-to-Go programme (SMT was successfully accredited) gave staff the confidence resume their work.
BetweenApril2012 andMarch2021 visitornumberwereseverelycurtailed.Total attendancewas3,847comparedto 38,168 in
2019/2020 and 32,315 in 2018/19.
Digital Commissions
DuringthelockdownSMTboosteditsonlineactivitytomaintaincontactwithexistingaudiencesanddevelop new
connections.AnimportantpartofthisactivityweretheNewDigitalCommissionswhichreplacedtheintendedFuture Lab
exhibition.SevenartistswereinvitedtocreateaseriesofvideosthatwerepublishedonSMT'swebsiteandviasocial media.
The commissionsexaminedthe significanceofobjects- museum artifacts,personalpossessionsorthingsnoticedinpassing- to
makewiderobservationsaboutsocietyandsocialcohesion,to sharepersonalexperiencesorto connectwithpeople facing
the challenges of social distancing.
Exhibition Programme - Scarborough Art Gallery
Print Makers Council
February 2020 - April 2021
Future Lab
Postponed due to COVID - see above
New Light Prize (open show format with £15k prize)
September - Jan 2021
Animal Hauntings
Screenings, short films and collection displays
Jan to April 2021
Seaside Exhibition
Objects from the collection and local community participation
Jan to April 2021
Learning
Throughout the year SMT began to improve its access and inclusion credentials.
Duringthisyearthelearningteamcreated45highqualityresourcestoconnectwithandprovideaccesstocollections. The
FamilyLearningPageonthewebsitewasre-launchedwhichbroughttogetherresourcesforfamiliesandschools,both at
home and before/during a visit.
A digitalprogrammewasalsolaunchedonthe learningwebpage.Thiswasdevisedincollaborationwithfreelancersand the
StephenJosephTheatreYouthTheatre.ItincludesasocialmediatakeovereachWednesdayandThursday,on Facebook
and twitter, and a new initiative featuring the debut of Lari the Seagull.
Online resources include:
- |
5 |
x making videos |
- |
5 |
x audio stories inspired by artworks and local area |
- |
5 |
x fact sheets |
Allonlineactivitiesaresupportedbyaccesstools,e.g.audiorecordings,captioningandalternativeformats. Consultation
with Scarborough based ARCADE and other partners has informed development of some of these.
Whispersfromthe MuseumswasreviewedbyKelsieActon, acreativepractitionerexperiencedinaccessauditing. Additional
in-depthfeedback,e.g.conversationswithfamilies/children,wassoughtandincludedotherrecentwork,e.g. welcome
animation funded by Museum Development Yorkshire.
At atrainingeventrunbyGEM(GroupforEducationinMuseums)attendedby100delegatesfromacrosstheUK,SMT digital
programme was flagged up as a sector leader 'we are doing interesting things, have a look'!
Page 3
SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2021
The onlineprogrammealsoincludedthe creationofupto100activitypackscontainingcraftactivitiesforvulnerable families.
This will provide access to new resources by families experiencing digital poverty.
Collections
Volunteers
ThepandemicgaveSMTtheopportunitytorestructurethevolunteerprogramme.Thisprocesshasbeenmanagedby the
GeneralManagerwithsupportfromtheCollectionsManagerandLearningManager.Fewervolunteershavebeen recruited
but several new work programmes have been initiated including:
-
Scanning the photographic collection
-
Cataloguing the mineral collection
-
Cataloguing the numismatics collection
Two volunteers are also supporting the learning and front-of-house teams.
Acquisitions and Gifts
Acquisition highlights included:
-
A cache of around 1600 letters written from a Lieutenant David Dawson to his wife between 1940 and 1945. The Dawson's lived at 37 Trafalgar Square and the letters tell a remarkable story of Scarborough life during the War years.
-
A piano manufactured by the local maker Waddington.
-
A watercolour map of mountain contours by Kathy Prendergast, recently shown as part of the commission exhibited at the Scarborough Art Gallery. Prendergast is an internationally renowned artist having represented the UK at the Venice Biannual.
-
A small collection of programmes and tickets from shows in Scarborough from the late 1940s to the early 1960s from venues such as the Open Air Theatre and Floral Hall.?
FINANCIAL REVIEW
Financial position
The FundingAgreement betweenScarboroughBoroughCouncilandthe Trust setsoutthe ContractPricepaidbythe Council
totheTrusttomanagetheMuseumsandGalleryservice.Thisislinkedtoinflationthroughoneofthegovernment's economic
indices.DiscussionswiththeCounciloverthecontractpricecontinuetoprogressandthetheTrusteesremainconfident that
the funding arrangements remain in place to meet the ongoing costs of managing the Museums and Gallery service.
TheFinanceCommitteehasreviewedbudgets,incomeandexpenditureandreportedbacktothemainBoard.The Chief
Executive and members of the Finance Committee meet quarterly to review performance.
Financialperformanceintheyearwassatisfactory,resultinginasurplusof£4,421andtotalreservesattheyearend standing
at £479,576.
Reserves policy
Thetrusteeshaveexaminedthe requirementsforreservesinlightofthe mainriskstothe charity.Sufficientworkingcapitalis in
placetoensurethat the museumandgalleryareabletotrade.Itisthe policyofScarboroughMuseumsTrusttohold reserves
equivalentto3-6monthsoperatingcosts.Reservesarealsoheldforthepurposeofrefurbishingdisplaysandexhibitions, and
forexceptionalexpenditure.The Trustees wishto investsurpluses,subjectto compliancewiththe Trust'sreservespolicy,in order
to enhance further the provision of its charitable objects.
FUTURE PLANS
TheHLFResilienceproject,theresultingdevelopmentoftheBoard,associatedtrainingandteambuildingactivitiesand an
evolvingandconstructiverelationshipwithSBChavebecomethe stimulousformovingthe organisationforward.The strategic
plan continues to adapt and together enable SMT to deliver services to its beneficiaries.
Page 4
SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
ScarboroughMuseumsTrust isacharitablecompanylimitedby guaranteeandwhichwasincorporatedon28th April2004. It is
governedby its MemorandumandArticles ofAssociation,asamendedby specialresolutionsdated14 January2005, 4 March
2009,19May2010,29July2011and26October2012andisregisteredwiththeCharityCommission.Intheeventof the
company being wound up, members are required to contribute an amount not exceeding £1 each.
As set out in the Articles of Association, the number of trustees shall be not less than three but no more than fifteen.
OnetrusteeisnominatedbyScarboroughBoroughCouncil:allothertrusteesareappointedbytheexistingtrustees or
members ofthe company.Membersarere-elected onretirement inaccordancewiththe rotationsystem outlinedinArticles 28
and 33 of the Articles of Association.
Recruitment and appointment of new trustees
The boardoftrusteesareawareofthe diverserangeofskills,experienceandknowledgeneededandwillseekto ensure that
they are appropriately reflected on the trustee board.
Induction and training of new trustees
Allnewtrusteesareprovidedwithsufficientinformationonthecharity'sactivitiesandtrusteeresponsibilitieswhen being
appointed to the board. Such information includes:
-
the obligations of the board of trustees;
-
the main documents that set out the operational framework for the charity including the Memorandum and Articles of Association;
-
a copy of the latest annual report and audited accounts;
-
a copy of the latest business plan and budget.
Key management remuneration
Thetrusteesconsiderthattheboardalongwiththechiefexecutivecomprisethekeymanagementpersonnelofthe charity
andareinchargeofdirectingandcontrolling,runningandoperatingthe Trust onadayto daybasis.All the trustees give their
time freely and none are remunerated. Details of expenses reimbursed during the year are shown in the notes to the accounts.
Thepayofseniorstaffisreviewedannuallyandnormallyincreasedinaccordancewithaverageearnings.Inviewof the
natureofthe charity,the trusteesbenchmarkagainstpaylevelsinothersimilarorganisationsinthe NorthofEnglandto ensure
that the remuneration is fair and not out of line with that generally paid for similar roles.
Risk management
A riskregistercoveringall aspectsofthe Trust'soperationandcontext isreviewedquarterlyby a RiskManagement Committee.
Key risks and mitigation strategies are then reported by the Board.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05114387 (England and Wales)
Registered Charity number
1106238
Registered office
Woodend
The Crescent
Scarborough
North Yorkshire
YO11 2PW
Trustees
Mr D L Searby
Mr J G H L Armistead
Mr J C Harris
Mr A D Riley
Ms L E Frostick
Mr B J Davidson
Mr J M Wallis
Ms M E Colling (resigned 23.2.21)
Mr E Asquith
Company Secretary
Mr A W Clay
Page 5
SCARBOROUGH MUSEUMS TRUST
REPORT OF THE TRUSTEES For The Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Auditors
Fortus Audit LLP
Chartered Accountants & Statutory Auditors
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
Chief executive officer
Mr A W Clay
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofScarboroughMuseumsTrustforthepurposesofcompanylaw)areresponsible for
preparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelawandUnited Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Companylawrequiresthetrusteestopreparefinancialstatements foreachfinancialyearwhichgiveatrueandfairview of
thestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,including the
incomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthosefinancialstatements, thetrustees are
required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytime the
financialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomplywith the
CompaniesAct 2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhencefor taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Fortus Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on 15 December 2021 and signed on its behalf by:
Mr B J Davidson - Trustee
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SCARBOROUGH MUSEUMS TRUST
Opinion
WehaveauditedthefinancialstatementsofScarboroughMuseumsTrust(the'charitablecompany')fortheyear ended
31 March2021 whichcomprisethe Statement ofFinancialActivities,the BalanceSheet, the CashFlowStatement andnotes to
thefinancialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthat has
beenappliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our
responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial
statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththe ethical
requirementsthat arerelevanttoourauditofthe financialstatements inthe UK,includingthe FRC'sEthicalStandard,and we
havefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.We believethat the auditevidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthe financialstatements, wehaveconcludedthat the trustees'useofthe goingconcernbasisofaccountingin the
preparation of the financial statements is appropriate.
Basedonthe workwehaveperformed,wehavenot identifiedanymaterialuncertaintiesrelatingto eventsorconditions that,
individuallyorcollectively,maycastsignificantdoubtonthe charitablecompany'sabilitytocontinueasagoingconcern for
a period of at least twelve months from when the financial statements are authorised for issue.
Ourresponsibilitiesandthe responsibilitiesofthe trusteeswithrespecttogoingconcernaredescribedinthe relevant sections
of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedinthe Annual
Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoing so,
considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtained in
theauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistenciesorapparent material
misstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementinthefinancial statements
themselves.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthis other
information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
Inthe light ofthe knowledgeandunderstandingofthe charitablecompanyandits environmentobtainedinthe courseof the
audit, we have not identified material misstatements in the Report of the Trustees.
We havenothingtoreportinrespectofthe followingmatterswherethe CompaniesAct 2006requiresustoreporttoyouif, in
our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SCARBOROUGH MUSEUMS TRUST
Responsibilities of trustees
AsexplainedmorefullyintheStatement ofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsofthe charitable
companyforthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancialstatementsandfor being
satisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineisnecessarytoenable the
preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Inpreparingthe financialstatements, the trusteesareresponsibleforassessingthe charitablecompany'sabilitytocontinue as
agoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,orhaveno realistic
alternative but to do so.
Our responsibilities for the audit of the financial statements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthe financialstatements asawholearefreefrom material
misstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludesour opinion.
Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewith ISAs
(UK)willalwaysdetect amaterialmisstatement whenitexists.Misstatementscanarisefromfraudorerrorandare considered
materialif,individuallyorintheaggregate,they couldreasonablybeexpectedtoinfluencetheeconomicdecisionsof users
taken on the basis of these financial statements.
Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignproceduresinline with
ourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespectofirregularities,includingfraud.Theextent to
which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtainedanunderstandingofthe legalandregulatoryframeworksthat areapplicabletothe companyand determined
that the mostsignificantframeworkswhicharedirectlyrelevanttospecificassertionsinthe financialstatements arethose that
relateto the reportingframework(UK GAAP andthe CompaniesAct 2006)andthe relevanttaxcomplianceregulationsin the
UK.
Weunderstoodhowthecompanyiscomplyingwiththoseframeworksbymakingenquiriesofmanagementand those
responsibleforlegalandcomplianceprocedures.Wecorroboratedourenquiriesthroughreviewofboardminutes and
discussions with those charged with governance.
Weassessedthesusceptibilityofthecompany’sfinancialstatementstomaterialmisstatement,includinghowfraud might
occur,bydiscussionwithmanagementfromvariouspartsofthebusinesstounderstandwheretheyconsideredtherewas a
susceptibilitytofraud.Weconsideredtheproceduresandcontrolsthatthecompanyhasestablishedtopreventand detect
fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.
Basedonourunderstanding,wedesignedourauditprocedurestoidentifyanynon-compliancewithlawsand regulations
identified in the paragraphs above.
We alsoperformedauditworkoverthe riskofmanagementoverrideofcontrols,includingtestingofjournalentriesand other
adjustmentsforappropriateness,evaluatingthebusinessrationaleofsignificanttransactionsoutsidethenormalcourse of
business and reviewing accounting estimates for bias.
AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting
Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent
Auditors.
Use of our report
Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16of the
CompaniesAct 2006. Ourauditworkhasbeenundertakensothat wemight state to the charitablecompany'smembers those
matters wearerequiredto state to them inanauditors'reportandfornootherpurpose.To the fullest extent permittedby law,
wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyandthecharitable company's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Paul Dixon ACA FCCA (Senior Statutory Auditor)
for and on behalf of Fortus Audit LLP
Chartered Accountants & Statutory Auditors
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
15 December 2021
Page 8
SCARBOROUGH MUSEUMS TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For The Year Ended 31 March 2021
Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
20,307
61,560
Charitable activities
4
Rotunda museum and art gallery
131,556
-
Investment income
3
1,132
-
SBC - Service level agreement
5
516,660
-
Total
669,655
61,560
EXPENDITURE ON
Raising funds
6
4,435
-
Charitable activities
7
Rotunda museum and art gallery
681,224
68,268
Total
685,659
68,268
Net gains/(losses) on investments
27,133
-
NET INCOME/(EXPENDITURE)
11,129
(6,708)
RECONCILIATION OF FUNDS
Total funds brought forward
468,447
6,708
TOTAL FUNDS CARRIED FORWARD
479,576
- |
2021
Total
funds
£
81,867
131,556
1,132
516,660
731,215
4,435
749,492
753,927
27,133
4,421
475,155
479,576 |
2020
Total
funds
£
107,062
98,436
1,907
573,131 |
|
|
780,536
6,737
746,588 |
|
|
753,325
(20,177) |
|
|
7,034
468,121 |
|
|
475,155 |
The notes form part of these financial statements
Page 9
SCARBOROUGH MUSEUMS TRUST
BALANCE SHEET 31 March 2021
|
|
2021 |
2020 |
|
Notes |
£ |
£ |
FIXED ASSETS |
|
|
|
Tangible assets |
14 |
48,449 |
52,271 |
Investments |
15 |
118,349 |
91,216 |
|
|
166,798 |
143,487 |
CURRENT ASSETS |
|
|
|
Stocks |
16 |
5,206 |
8,750 |
Debtors |
17 |
40,496 |
40,342 |
Cash at bank and in hand |
|
369,474 |
364,071 |
|
|
415,176 |
413,163 |
CREDITORS |
|
|
|
Amounts falling due within one year |
18 |
(102,398) |
(81,495) |
NET CURRENT ASSETS |
|
312,778 |
331,668 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
479,576 |
475,155 |
NET ASSETS |
|
479,576 |
475,155 |
FUNDS |
20 |
|
|
Unrestricted funds |
|
479,576 |
468,447 |
Restricted funds |
|
- |
6,708 |
TOTAL FUNDS |
|
479,576 |
475,155 |
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon15December2021and were
signed on its behalf by:
Mr B J Davidson - Trustee
The notes form part of these financial statements
Page 10
SCARBOROUGH MUSEUMS TRUST
CASH FLOW STATEMENT For The Year Ended 31 March 2021
|
|
2021 |
2020 |
|
Notes |
£ |
£ |
Cash flows from operating activities |
|
|
|
Cash generated from operations |
1 |
14,564 |
53,440 |
Net cash provided by operating activities |
|
14,564 |
53,440 |
Cash flows from investing activities |
|
|
|
Purchase of tangible fixed assets |
|
(10,293) |
(5,399) |
Sale of tangible fixed assets |
|
- |
6,059 |
Interest received |
|
1,132 |
1,907 |
Net cash (used in)/provided by investing activities |
|
(9,161) |
2,567 |
|
|
|
|
Change in cash and cash equivalents in the |
|
|
|
reporting period |
|
5,403 |
56,007 |
Cash and cash equivalents at the beginning |
of |
|
|
the reporting period |
|
364,071 |
308,064 |
Cash and cash equivalents at the end of the |
|
|
|
reporting period |
|
369,474 |
364,071 |
The notes form part of these financial statements
Page 11
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 March 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Decrease in stocks
Increase in debtors
Increase in creditors
Net cash provided by operations |
2021
£
4,421
14,115
(27,133)
(1,132)
3,544
(154)
20,903
14,564 |
2020
£
7,034
15,363
20,177
(1,907)
1,211
(18,910)
30,472
53,440 |
|
|
|
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20
Cash flow
At
£
£
Net cash
Cash at bank and in hand
364,071
5,403
364,071
5,403
Total
364,071
5,403 |
31.3.21
£
369,474 |
|
369,474 |
|
369,474 |
The notes form part of these financial statements
Page 12
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'TheFinancialReportingStandardapplicableinthe UKandRepublicofIreland'andthe Companies Act
2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Fordonationsandgrantsto berecognisedthe charitywillhavebeennotifiedofthe amountsandthe settlement date
inwriting.Ifthereareconditionsattachedtothedonationorgrantandthisrequiresalevelofperformance before
entitlementcanbeobtainedthenincomeisdeferreduntilthoseconditionsarefullymetorthefulfilmentof those
conditions is within the control of the charity and it is probable that they will be fulfilled.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthere isalegalorconstructiveobligationcommittingthe charity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement andtheamount of
theobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributed 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.
Fixtures, fittings and equipment- Straight line over 10 years
Computer equipment & website- Straight line over 5 years
Tangiblefixedassetsarestatedatcostorvaluationlessaccumulateddepreciationandaccumulated impairment
losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsoleteand slow
moving items.
Costincludesallcostsofpurchaseandiscalculatedusingthefirst-in,first-outbasis.Provisionismadefor damaged,
obsolete and slow-moving stock where appropriate.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundsareavailableto spendonactivitiesthat furtheranyofthe purposesofthe charity.Designated funds
areunrestrictedfundsofthecharitywhichthetrusteeshavedecidedattheirdiscretiontosetasidetousefor a
specificpurpose.Restrictedfundsaregrantsanddonationswhichthedonorhasspecifiedaretobesolelyused for
particular areas of the Trust's work or for specific projects being undertaken by the Trust.
Debtors and creditors receivable / payable within one year
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecorded at
transaction price. Any losses arising from impairment are recognised in expenditure.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charitable
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
Thefinancialstatementshavebeenpreparedonagoingconcernbasisasthetrusteesbelievethatno material
uncertaintiesexist.Thetrusteeshaveconsideredtheleveloffundsheldandtheexpectedlevelofincome and
expenditurefor12monthsfromauthorisingthesefinancialstatements.Thebudgetedincomeandexpenditure is
sufficient with the level of reserves for the charity to be able to continue as a going concern.
continued...
Page 13
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2021
1. ACCOUNTING POLICIES - continued
Going concern
ThetrusteeshaveconsideredtheimpactofCOVID-19inrelationtotheirassessmentofgoingconcernandin their
opinionhavetakenallreasonablestepstomitigatethesefactors.As atthe pointofauthorisingthe accounts,and for
theforeseeablefuture,thedirectorsconsiderthegoingconcernassumptiontostillbeappropriate.The trustees
acknowledgethatgiventhecurrentlyrapidlychangingbusinessandsocialenvironment,therearelikelyto be
significantunknownfactorswhichmaypresentthemselves.Suchfactorsareconsideredbythe trusteestorepresent a
general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.
Government grants
Governmentgrantsarerecognisedatthefairvalueoftheassetreceivedorreceivablewhenthereis reasonable
assurancethatthecompanywillcomplywithconditionsattachingtothemandthegrantswillbereceivedusing the
accrual model.
2. DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
Arts Council
The Palaeontological Association
Historic England |
2021
£
17,307
64,560
81,867
2021
£
61,560
-
3,000
64,560 |
2020
£
2,816
104,246 |
|
|
107,062 |
|
|
2020
£
101,246
3,000
- |
|
|
104,246 |
Grants received from The Arts Council include £61,650 (2020 - £61,650) related to restricted funds.
3.
4.
INVESTMENT INCOME
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Admissions
Rotunda museum and art gallery
Retail and refreshment sales
Rotunda museum and art gallery
Staff recharge fees
Rotunda museum and art gallery
Rent recharges
Rotunda museum and art gallery
Government grants
Rotunda museum and art gallery
Miscellaneous income
Rotunda museum and art gallery |
2021
£
1,132
2021
£
5,854
2,809
-
73,196
38,002
11,695
131,556 |
2020
£
1,907
2020
£
39,119
15,445
12,000
28,221
-
3,651 |
020
£
1,907 |
|
|
98,436 |
|
continued...
Page 14
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2021
5. SBC - SERVICE LEVEL AGREEMENT
Thecharityreceivesincomefromthelocalcouncilunderthetermsofaservicelevelagreementfortheoperation of
the museum and art gallery and this is shown separately on the face of the Statement of Financial Activities.
6. RAISING FUNDS
Other trading activities
2021
£
Purchases
4,435
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 8)
note 9)
£
£
Rotunda museum and art gallery
719,602
29,890
DIRECT COSTS OF CHARITABLE ACTIVITIES
2021
£
Staff costs
340,553
Other staff costs
5,835
Premises
74,331
Supplies and services
138,723
Professional services
8,262
Bad debts
73,196
Grant project expenditure
64,587
Depreciation
14,115
719,602 |
2020
£
6,737
Totals
£
749,492 |
020
£
6,737 |
|
2020
£
311,421
5,208
63,815
137,415
7,094
84,692
59,430
15,363 |
|
|
684,438 |
|
7. CHARITABLE ACTIVITIES COSTS
8.
Included in the above costs are £68,268 relating to restricted funds.
Staff costs include salaries and related costs incurred in relation to one-off projects and funding.
9. SUPPORT COSTS
|
|
Governance |
|
|
costs |
|
|
£ |
Rotunda museum and art gallery |
|
29,890 |
Support costs, included in the above, are as follows: |
|
|
|
2021 |
2020 |
|
Rotunda |
|
|
museum |
|
|
and art |
Total |
|
gallery |
activities |
|
£ |
£ |
Auditors' remuneration |
4,275 |
4,150 |
Auditors' remuneration for non audit work |
1,500 |
- |
Meeting expenses |
- |
581 |
Legal and professional fees |
24,115 |
57,419 |
|
29,890 |
62,150 |
continued...
Page 15
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2021
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2021 |
2020 |
|
£ |
£ |
Auditors' remuneration |
4,275 |
4,150 |
Auditors' remuneration for non audit work |
1,500 |
- |
Depreciation - owned assets |
14,115 |
15,363 |
11. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021norfortheyear ended
31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
12. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities |
2021
£
309,963
16,840
13,750
340,553
2021
16 |
2020
£
280,811
18,106
12,504 |
|
|
311,421 |
|
|
2020
15 |
No employees received emoluments in excess of £60,000.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR ONLY
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,502
61,560
Charitable activities
Rotunda museum and art gallery
98,436
-
Investment income
1,907
-
SBC - Service level agreement
573,131
-
Total
718,976
61,560
EXPENDITURE ON
Raising funds
6,737
-
Charitable activities
Rotunda museum and art gallery
675,793
70,795
Total
682,530
70,795
Net gains/(losses) on investments
(20,177)
-
NET INCOME/(EXPENDITURE)
16,269
(9,235) |
Total
funds
£
107,062
98,436
1,907
573,131 |
|
780,536
6,737
746,588 |
|
753,325
(20,177) |
|
7,034 |
continued...
Page 16
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2021
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR ONLY - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
452,178
15,943
TOTAL FUNDS CARRIED FORWARD
468,447
6,708
14.
TANGIBLE FIXED ASSETS
Fixtures,
fittings
Computer
and
equipment
equipment
& website
£
£
COST
At 1 April 2020
104,198
92,233
Additions
10,293
-
At 31 March 2021
114,491
92,233
DEPRECIATION
At 1 April 2020
60,211
83,949
Charge for year
9,223
4,892
At 31 March 2021
69,434
88,841
NET BOOK VALUE
At 31 March 2021
45,057
3,392
At 31 March 2020
43,987
8,284
15.
FIXED ASSET INVESTMENTS
Shares in
group
Unlisted
undertakings
investments
£
£
MARKET VALUE
At 1 April 2020
10
91,206
Impairments
-
27,133
At 31 March 2021
10
118,339
NET BOOK VALUE
At 31 March 2021
10
118,339
At 31 March 2020
10
91,206 |
Total
funds
£
468,121
475,155
Totals
£
196,431
10,293
206,724
144,160
14,115
158,275
48,449
52,271
Totals
£
91,216
27,133
118,349
118,349
91,216 |
Total
funds
£
468,121 |
|
|
475,155 |
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:
Scarborough Museums and Gallery Enterprises Limited
Registered office:
Nature of business: Dormant
%
Class of share:holding
Ordinary100
20212020
££
Aggregate capital and reserves1010
continued...
Page 17
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2021
16.
STOCKS
2021
2020
£
£
Stocks
5,206
8,750
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
£
£
Trade debtors
27,000
25,450
Prepayments and accrued income
13,496
14,892
40,496
40,342
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
£
£
Trade creditors
43,071
36,537
Social security and other taxes
45,739
33,642
Other creditors
792
1,947
Accrued expenses
12,796
9,369
102,398
81,495
19.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2021
2020
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
£
£
£
£
Fixed assets
48,449
-
48,449
52,271
Investments
118,349
-
118,349
91,216
Current assets
415,176
-
415,176
413,163
Current liabilities
(102,398)
-
(102,398)
(81,495)
479,576
-
479,576
475,155
20.
MOVEMENT IN FUNDS
Net
movement
At
At 1.4.20
in funds
31.3.21
£
£
£
Unrestricted funds
Unrestricted funds
468,447
11,129
479,576
Restricted funds
Arts Council - Museum Resilience
2,408
(2,408)
-
Arts Council - School and Museum
Partnership
4,300
(4,300)
-
6,708
(6,708)
-
TOTAL FUNDS
475,155
4,421
479,576 |
|
2020
£
8,750
2020
£
25,450
14,892 |
2020
£
8,750 |
|
|
40,342 |
|
|
|
2020
£
36,537
33,642
1,947
9,369 |
|
|
|
81,495 |
|
continued...
Page 18
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2021
20. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Gains and |
Movement |
|
resources |
expended |
losses |
|
in funds |
|
£ |
£ |
£ |
|
£ |
Unrestricted funds |
|
|
|
|
|
Unrestricted funds |
669,655 |
(685,659) |
27,133 |
|
11,129 |
Restricted funds |
|
|
|
|
|
Arts Council - Museum Resilience |
- |
(2,408) |
|
- |
(2,408) |
Arts Council - School and Museum |
|
|
|
|
|
Partnership |
61,560 |
(65,860) |
|
- |
(4,300) |
|
61,560 |
(68,268) |
|
- |
(6,708) |
TOTAL FUNDS |
731,215 |
(753,927) |
27,133 |
|
4,421 |
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.19 |
in funds |
31.3.20 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
Unrestricted funds |
452,178 |
16,269 |
468,447 |
Restricted funds |
|
|
|
Arts Council - Museum Resilience |
4,816 |
(2,408) |
2,408 |
Arts Council - School and Museum |
|
|
|
Partnership |
11,127 |
(6,827) |
4,300 |
|
15,943 |
(9,235) |
6,708 |
TOTAL FUNDS |
468,121 |
7,034 |
475,155 |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Gains and |
Movement |
|
resources |
expended |
losses |
|
in funds |
|
£ |
£ |
£ |
|
£ |
Unrestricted funds |
|
|
|
|
|
Unrestricted funds |
718,976 |
(682,530) |
(20,177) |
|
16,269 |
Restricted funds |
|
|
|
|
|
Arts Council - Museum Resilience |
- |
(2,408) |
|
- |
(2,408) |
Arts Council - School and Museum |
|
|
|
|
|
Partnership |
61,560 |
(68,387) |
|
- |
(6,827) |
|
61,560 |
(70,795) |
|
- |
(9,235) |
TOTAL FUNDS |
780,536 |
(753,325) |
(20,177) |
|
7,034 |
continued...
Page 19
SCARBOROUGH MUSEUMS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2021
20. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.19 |
in funds |
31.3.21 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
Unrestricted funds |
452,178 |
27,398 |
479,576 |
Restricted funds |
|
|
|
Arts Council - Museum Resilience |
4,816 |
(4,816) |
- |
Arts Council - School and Museum |
|
|
|
Partnership |
11,127 |
(11,127) |
- |
|
15,943 |
(15,943) |
- |
TOTAL FUNDS |
468,121 |
11,455 |
479,576 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
|
Incoming |
Resources |
Gains and |
Gains and |
Movement |
|
resources |
expended |
losses |
|
in funds |
|
£ |
£ |
£ |
|
£ |
Unrestricted funds |
|
|
|
|
|
Unrestricted funds |
1,388,631 |
(1,368,189) |
6,956 |
|
27,398 |
Restricted funds |
|
|
|
|
|
Arts Council - Museum Resilience |
- |
(4,816) |
|
- |
(4,816) |
Arts Council - School and Museum |
|
|
|
|
|
Partnership |
123,120 |
(134,247) |
|
- |
(11,127) |
|
123,120 |
(139,063) |
|
- |
(15,943) |
TOTAL FUNDS |
1,511,751 |
(1,507,252) |
6,956 |
|
11,455 |
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
22. COMPANY LIMITED BY GUARANTEE
Thecompanyislimitedbyguaranteeandhasnoissuedsharecapital.Everymemberofthe companyundertakes to
contributetotheassetsofthecompanyintheeventofthesamebeingwoundupwhilehe/sheisamember, such
amount as may be required not exceeding £1 each.
Page 20