``` 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 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`6`| |**`Report of the Independent Auditors`**|`7`|`to`|`8`| |**`Statement of Financial Activities`**||`9`|| |**`Balance Sheet`**||`10`|| |**`Cash Flow Statement`**||`11`|| |**`Notes to the Cash Flow Statement`**||`12`|| |**`Notes to the Financial Statements`**|`13`|`to`|`20`| ``` 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: ``` - `10 x crafts and templates` - `- 5 x making videos` |`-`|`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 ```