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← Scarborough Museums, Culture and Creative Trust

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05114387 (England and Wales) REGISTERED CHARITY NUMBER: 1106238

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 March 2024

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Page
Report of the Trustees 1 to 10
Report of the Independent Auditors 11 to 14
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 29
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REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Page 1

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trust's charitable objectives are "To advance the education of the public in archaeology, history, natural sciences, decorative and fine arts, antiquities and related disciplines by:

Scarborough Borough Council transferred responsibility for the delivery of the Museums and Gallery Service and the management of the council's collections to the Trust on 1st January 2008 for an initial period of 30 years. During its early years the Trust focused on consolidating the position since the reopening of the Rotunda Museum in 2008 and the transfer of all management responsibilities to the Trust.

In May 2022, the merger of the Museum Trust with the Creative Industries Centre Trust Ltd resulted in the creation of the Scarborough Museums, Culture and Creative Trust Ltd. The Service Level Agreement (SLA) with Scarborough Borough Council which was renegotiated in 2022 transferred to North Yorkshire Council on the creation of the new Unitary Authority and from 1st April 2023, SMCCT’s SLA has been with that body.

The Strategic Plan

The draft Forward Plan represented in April 2023 covers the period 2023 - 2026 and includes:

Vision:

Shaping the world around you, means we will:

Values:

Strategic Priorities:

Page 2

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Governance

The new Unitary Authority North Yorkshire Council (NYC) in effect from 1st April 2023 meant that the Service Level Agreement and leases on all the buildings transferred from Scarborough Borough Council to NYC from the beginning of this financial period. The Chief Executive Officer resigned and left at the start of the following year.

During the financial year, a number of trustees stepped down from their positions, including the Chair, and an Interim Chair was appointed in February 2024. A new Local Authority representative was appointed to the board in November 2023, following the establishment of the unitary authority.

Rotunda

The Arts Council England funded MEND project at the Rotunda Museum was completed in this financial period. The award of £256,000 was specifically for the conservation of the central rotunda. Work concentrated on replacing damaged masonry. Architects, Purcell project managed the work. A successful Heritage Open Days event in September 2023 provided visitors with the opportunity to see the conservation work being undertaken.

Continued issues with water ingress and damage to the ceilings in the West Wing of the Rotunda meant that it has remained closed during the financial year. Work was undertaken to remove more vulnerable collection items from the space.

Art Gallery

In the Art Gallery, the conversion of a small office into the Gallery Shop during this period resulted in an improvement in retail sales and enhanced the visitor offer. As a result retail income at the Art Gallery increased from £4,129 in 2022/23 to £8,970.

Partnership projects

During September 2023, a new project manager was appointed for the Arts Council Funded Connecting Coastal Cultures project which is a partnership project with Crescent Arts. This appointment resulted in a review of the scope of the project and reconnecting with artists and external partners who had formed part of the earlier bid.

As a result of one external partner no longer being able to participate, the project was reprogrammed. An open call for artists to participate in the Norther Expressions artist development programme stream was put out in November 2023 and an open call for established artists to respond to the Coastal Ecologies exhibition brief was put out in November 2023.

The external funding for the project totals £89,000 over financial year 2023/24 and 2024/25.

Public benefit

As a charity, and with regard to Charity Commission guidance, the trustees recognise the Trust's duty to carry out its operations for the benefit of the public. In particular the trustees consider that the work of the Trust in the last year has advanced the arts, culture and heritage of the Borough of Scarborough and its region for the benefit of a broad audience.

Page 3

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE Charitable activities - Exhibition Programme Scarborough Art Gallery

Squaring the Circles

4 March - 1 May 2023

An exhibition in association with the Royal Photographic Society, Squaring the Circles, featured new and previously unseen work in the UK by ten contemporary artists, taking inspiration from Pictorialism, the artform that dominated the mid-nineteenth century to the early twentieth century.

Exhibiting photographers included Takashi Arai, Angela Chalmers, David Chalmers, Susan Derges HonFRPS, David George, Joy Gregory HonFRPS, Tom Hunter HonFRPS, Ian Phillips McLaren, Céline Bodin and Spencer Rowell. Curated by Zelda Cheatle HonFRPS.

East Coast Open

13 May - 3 September 2023

A favourite amongst both visitors and staff, the East Coast Open is a highlight in the exhibition calendar - a showcase of local artistic talent and creativity. This year the exhibition was made up of 100 works by artists from across North Yorkshire, including textile, painting, printing, mixed media and photography.

Always Been Here

16 September 2023 - 7 January 2024

Through a process of collaborative engagement with local queer people, this exhibition brought together unique perspectives on works from the Scarborough Museums and Galleries permanent collection, presenting them alongside objects of personal significance to the local queer community for the first time. This exhibition was created in partnership with Crescent Arts.

Displayful

20 January - 6 May 2024

Celebrating happy accidents and joyful mess, Displayful invited visitors to enjoy contemporary artistic responses to objects from the collection. Combining new work from five regional artists, Luke Beech, Kate Fox, Wendy Galloway, Liberty Hodes and Angela Knipe, alongside historical artefacts, Displayful explored new possibilities for the lives of objects.

Exhibition programme - Woodend

This year saw the launch of the Connecting Coastal Cultures (CCC) a partnership project with Crescent Arts funded by Arts Council England.

Based in Woodend, Crescent Arts is a vibrant creative hub rooted in Scarborough. For the year 2023 – 2024, they were responsible for producing some of the exhibitions programme with Garth Gratrix: Cheeky Felicia being the first CCC produced exhibition.

Woodend was also the venue for the Sounds Better exhibition (2 March to 13 April 2024) which was a celebration and showcase of a collaborative project between Scarborough Museums and Art Gallery, Crescent Arts and Crosslane Hospital.

A micro-exhibition was installed in the foyer of Woodend to interpret the Sitwell family connection to the building.

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SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

Collections

Acquisitions

There were 20 new acquisitions into the collection including:

As a result of a social media appeal, we were able to identify the artist of a painting of The Grand Hotel, held in our stores and for which there was little information. The painting was by the architect of the Grand Hotel, Cuthbert Brodick.

Inventory

Work began on planning a collections inventory project, working with volunteers to review and cross-reference information held on the objects in store. There was volunteer training held in February 2024 to support this work. Inventory of the works on paper, costume and elements of the numismatics collection began in the period. Volunteers were recruited to support this work.

Community

Sounds Better

This project, which began in 2022/23, was a collaborative approach to look at how the impact and potential of sound might support recovery and creativity. Scarborough Museums and Galleries, along with Crescent Arts, worked with a number of organisations to explore this. Project participants and partners include Cross Lane Hospital, Yorkshire Coast Sight Support, the Personalised Learning College, Mencap, volunteers from Blueberry Academy, volunteer participant advisors and two paid artists. The project resulted in an exhibition (held in Woodend) and the creation of a toolkit for the SMG venues and those of our partners.

A Space to Be

This space, developed in the previous financial year, continued to be used for community engagement and to support the learning programme. This included the Sounds Better project.

Yorkshire Fossil Festival

Changes to the Yorkshire Fossil Festival took it to an alternative venue in Whitby in this financial year. SMG took a stand at the event.

Learning

Our formal leaning provision continued to be funded by Arts Council’s Museums and Schools programme in this financial year. The number of pupils visiting the venues in organised groups was 2,199, and 686 students were reached through outreach to schools by the learning team. 59 primary schools were engaged through the formal learning activity.

Page 5

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Visitor Figures (1st April 2023 to 31st March 2024)

Rotunda

Annual tickets (paid) 11,060 Repeat (free) 2,932

This represented an increase of 868 paid visitors compared to 2022/23 and a small increase of 352 repeat visitors compared to the previous financial year.

Art Gallery

----- Start of picture text -----
Annual tickets (paid) 4,588
Repeat (free) 4,383
----- End of picture text -----

This represented an decrease of 908 paid visitors compared to 2022/23 but an increase of 1,427 repeat visitors compared to the previous financial year.

Free to both venues

----- Start of picture text -----
Under 18's 7,014
Other free 2,581
Non-learning attendees e.g. Space 2 Be and informal activities 1,777
----- End of picture text -----

Woodend

Total (free) 7,738 (an increase of 2,407 on the previous financial year)

Page 6

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

FINANCIAL REVIEW

Reserves policy

The trustees have examined the requirements for reserves in light of the main risks to the charity. Sufficient working capital is in place to ensure that the museum and gallery are able to trade. It is the policy of Scarborough Museums Trust to hold reserves equivalent to 3-6 months operating costs. Reserves are also held for the purpose of refurbishing displays and exhibitions, and for exceptional expenditure. The Trustees wish to invest surpluses, subject to compliance with the Trust's reserves policy, in order to enhance further the provision of its charitable objects.

Financial review

The Funding Agreement between North Yorkshire Council and the Trust sets out the Contract Price paid by the Council to the Trust to manage the Museums and Gallery service. This is linked to inflation through one of the government's economic indices.

The Finance Committee has reviewed budgets, income and expenditure and reported back to the main Board. The Chief Executive and members of the Finance Committee meet quarterly to review performance.

Financial performance in the year was poorer than expected, resulting in a deficit of £236,213 and total reserves at the year end standing at £143,723. The trustees consider that a number of factors were at play in this financial period contributing to the financial performance including:

The deficit also reflects the timing of the receipt and subsequent expenditure of the MEND project funding.

During the financial period 2023/24, a decision was made by management and Board to pursue the opening of a higher interest account to enable investment of reserves. This focus on investment has masked the issues of cash flow within the organisation. In reviewing these accounts, and specifically the cash flow statement, trustees note also that cash flow at the end of financial period 2023/24 reflects a significantly reduced cash position.

FUTURE PLANS

As mentioned above, the charity faced a challenging year in 2023/24 which significantly reduced the cash position of the charity at the year-end and into 2024/25 and this forced the trustees to consider the future operation of the venues in the best interest of locals and visitors alike.

North Yorkshire Council owns Scarborough Art Gallery, Rotunda Museum and Woodend Gallery and Studios, along with their collections and the trustees approached the local authority with a view to them bringing operations back 'in-house' and ending the current service level agreement. The North Yorkshire Council executive committee voted unanimously to approve the recommendation and request from SMCCT at a meeting on the 18th March 2025 and, as a result, the charity will cease to operate on a planned handover date of 30th June 2025.

The trustees and leadership team are now committed to ensuring a smooth handover process in the best interests of all stakeholders.

Page 7

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Scarborough Museums Trust is a charitable company limited by guarantee and which was incorporated on 28th April 2004. It is governed by its Memorandum and Articles of Association, as amended by special resolutions dated 14 January 2005, 4 March 2009, 19 May 2010, 29 July 2011 and 26 October 2012 and is registered with the Charity Commission. In the event of 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.

One trustee is nominated by Scarborough Borough Council: all other trustees are appointed by the existing trustees or members of the company. Members are re-elected on retirement in accordance with the rotation system outlined in Articles 28 and 33 of the Articles of Association.

Recruitment and appointment of new trustees

The board of trustees are aware of the diverse range of skills, experience and knowledge needed and will seek to ensure that they are appropriately reflected on the trustee board.

Induction and training of new trustees

All new trustees are provided with sufficient information on the charity's activities and trustee responsibilities when being appointed to the board. Such information includes:

Key management remuneration

The trustees consider that the board along with the chief executive comprise the key management personnel of the charity and are in charge of directing and controlling, running and operating the Trust on a day to day basis. 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.

The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees benchmark against pay levels in other similar organisations in the North of England to ensure that the remuneration is fair and not out of line with that generally paid for similar roles.

Risk management

A risk register covering all aspects of the Trust's operation and context is reviewed quarterly by a Risk Management 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

Page 8

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

Trustees

Mr J M Wallis (resigned 20.7.23) Mr J C Harris Mrs S A Gorham (appointed 16.1.24) Dr K M Strang (appointed 2.2.24) Ms L E Frostick Mr A P Spawforth (appointed 23.11.23) Councillor Martin Myers (appointed 23.11.23) Mr E Asquith (resigned 31.3.24) Miss M E Woods (resigned 28.2.24) Professor J Fletcher (resigned 1.2.24)

Company Secretary

Mrs J S Lowery

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 (resigned 14.03.24, left post 26.04.24)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Scarborough Museums, Culture and Creative Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Page 9

REPORT OF THE TRUSTEES For The Year Ended 31 March 2024

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

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 26 March 2025 and signed on its behalf by:

Mrs S A Gorham - Trustee

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Opinion

We have audited the financial statements of Scarborough Museums, Culture and Creative Trust (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - basis of preparation

We draw your attention to Note 1 of the financial statements which explains that the charitable company will cease to operate on 30 June 2025 and therefore the Trustees do not consider it appropriate to adopt the going concern basis in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.

Our opinion is not modified in respect of this matter.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this 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:

Page 11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 12

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance. We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets. Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our Report of the Independent Auditors.

Page 13

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Frances Howard FCA (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

26 March 2035

Page 14

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For The Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Rotunda museum and art gallery
Investment income
3
Local authority - Service level agreement
5
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Rotunda museum and art gallery
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
20
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
20,989
118,911
898
469,753
610,551
22,788
724,551
747,339
5,689
(131,099)
(35,147)
(166,246)
252,580
86,334		 Restricted
funds
£
309,846
-
-
-
309,846
-
414,960
414,960
-
(105,114)
35,147
(69,967)
127,356
57,389		 2024
Total
funds
£
330,835
118,911
898
469,753
920,397
22,788
1,139,511
1,162,299
5,689
(236,213)
-
(236,213)
379,936
143,723		 2023
Total
funds
£
322,333
91,876
1,099
426,660
841,968
14,909
880,243
895,152
(949)
(54,133)
-
(54,133)
434,069
379,936

The notes form part of these financial statements

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SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

BALANCE SHEET 31 March 2024

Notes
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2024
£
52,262
138,007
190,269
10,721
17,817
45,984
74,522
(121,068)
(46,546)
143,723
143,723
86,334
57,389
143,723		 2023
£
55,951
132,328
188,279
7,920
29,092
239,534
276,546
(84,889)
191,657
379,936
379,936
252,580
127,356
379,936

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 26 March 2025 and were signed on its behalf by:

Mrs S A Gorham - Trustee

The notes form part of these financial statements

Page 16

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

CASH FLOW STATEMENT For The Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
(185,678)
(185,678)
(8,770)
898
(7,872)
(193,550)
239,534
45,984		 2023
£
(77,341)
(77,341)
(20,621)
1,099
(19,522)
(96,863)
336,397
239,534

The notes form part of these financial statements

Page 17

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 March 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Impairment of subsidiary investment
Increase in stocks
Decrease in debtors
Increase/(decrease) in creditors
Net cash used in operations		 2024
£
(236,213)
12,459
(5,689)
(898)
10
(2,801)
11,275
36,179
(185,678)		 2023
£
(54,133)
11,850
949
(1,099)
-
(3,151)
112,853
(144,610)
(77,341)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand		 At 1.4.23
Cash flow
At 31.3.24
£
£
£
239,534
(193,550)
45,984
239,534
(193,550)
45,984
Total 239,534
(193,550)
45,984

The notes form part of these financial statements

Page 18

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For donations and grants to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation or grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase and is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

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

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust.

continued...

Page 19

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

As mentioned in the Report of the Trustees, the charity faced a challenging year in 2023/24 which put significant pressure on the cashflow of the charity and this forced the trustees to consider the future operation of the venues in the best interest of locals and visitors alike.

North Yorkshire Council owns Scarborough Art Gallery, Rotunda Museum and Woodend Gallery and Studios, along with their collections and the trustees approached the local authority with a view to them bringing operations back 'in-house' and ending the current service level agreement.

The North Yorkshire Council executive committee voted unanimously to approve the recommendation and request from SMCCT at a meeting on the 18th March 2025 and, as a result, the charity will cease to operate on a planned handover date of 30th June 2025. The trustees have therefore chosen not to adopt the going concern basis and appropriate adjustments have been made in the financial statements.

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
Arts Council England
National Lottery Heritage Fund
The Geological Society
Museum Development Yorkshire
North Yorkshire County Council (Now North Yorkshire Council)
Climate 2025 Limited
'Culture&'
Anglo American Woodsmith Limited
Crescent Arts		 2024
£
5,882
324,953
330,835
2024
£
246,366
24,987
-
150
30,450
1,000
16,000
5,000
1,000
324,953		 2023
£
3,089
319,244
322,333
2023
£
226,809
68,835
22,250
1,350
-
-
-
-
-
319,244

Grants received include £309,846 (2023 - £286,542) related to restricted funds.

continued...

Page 20

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

3. INVESTMENT INCOME

Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Admissions
Rotunda museum and art gallery
Retail and refreshment
sales
Rotunda museum and art gallery
Miscellaneous income
Rotunda museum and art gallery		 2024
£
898
2024
£
49,076
34,724
35,111
118,911		 2023
£
1,099
2023
£
44,335
24,629
22,912
91,876

5. LOCAL AUTHORITY - SERVICE LEVEL AGREEMENT

The charity receives income from the local council under the terms of a service level agreement for the operation 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

Other trading activities
Purchases 2024
2023
£
£
22,788
14,909
7.
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 8)
£
Rotunda museum and art gallery
1,110,105		 Support
costs (see
note 9)
Totals
£
£
29,406
1,139,511

continued...

Page 21

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Other staff costs
Premises
Supplies and services
Professional services
Grant project expenditure
Depreciation
Impairment losses		 2024
£
470,395
8,684
66,335
179,521
2,300
370,423
12,437
10
1,110,105		 2023
£
394,984
11,853
65,183
200,256
2,130
164,957
11,850
-
851,213

Included in the above costs are £414,960 (2023 - £205,944) relating to restricted funds.

Staff costs include salaries and related costs incurred in relation to one-off projects and funding.

9. SUPPORT COSTS

SUPPORT COSTS
Rotunda museum and art gallery Governance
costs
£
29,406
Support costs, included in the above, are as follows:
Auditors' remuneration
Legal and professional fees		 2024
Rotunda
museum
and art
gallery
£
4,200
25,206		 2023
Total
activities
£
4,200
24,830
29,406 29,030
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets		 2024
£
4,200
12,459		 2023
£
4,200
11,850

10. NET INCOME/(EXPENDITURE)

continued...

Page 22

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

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		 2024
£
424,248
27,467
18,680
470,395
2024
21		 2023
£
360,539
19,540
14,905
394,984
2023
17

No employees received emoluments in excess of £60,000 during the current or prior year.

13.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR ONLY
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
35,791
286,542
Charitable activities
Rotunda museum and art gallery
91,876
-
Investment income
1,099
-
Local authority - Service level agreement
426,660
-
Total
555,426
286,542
EXPENDITURE ON
Raising funds
14,909
-
Charitable activities
Rotunda museum and art gallery
674,299
205,944
Total
689,208
205,944
Net gains/(losses) on investments
(949)
-
NET INCOME/(EXPENDITURE)
(134,731)
80,598
Transfers between funds
(46,758)
46,758		 Total
funds
£
322,333
91,876
1,099
426,660
841,968
14,909
880,243
895,152
(949)
(54,133)
-

continued...

Page 23

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR ONLY - continued
Unrestricted
Restricted
funds
funds
£
£
Net movement in funds
(181,489)
127,356
RECONCILIATION OF FUNDS
Total funds brought forward
434,069
-
TOTAL FUNDS CARRIED FORWARD
252,580
127,356
14.
TANGIBLE FIXED ASSETS
Fixtures,
fittings
Computer
and
equipment
equipment
& website
£
£
COST
At 1 April 2023
130,883
105,319
Additions
3,385
5,385
At 31 March 2024
134,268
110,704
DEPRECIATION
At 1 April 2023
84,768
95,483
Charge for year
8,013
4,446
At 31 March 2024
92,781
99,929
NET BOOK VALUE
At 31 March 2024
41,487
10,775
At 31 March 2023
46,115
9,836
15.
FIXED ASSET INVESTMENTS
Shares in
group
Unlisted
undertakings
investments
£
£
MARKET VALUE
At 1 April 2023
10
132,318
Impairments
(10)
5,689
At 31 March 2024
-
138,007
NET BOOK VALUE
At 31 March 2024
-
138,007
At 31 March 2023
10
132,318
Total
funds
£
(54,133)
434,069
379,936
Totals
£
236,202
8,770
244,972
180,251
12,459
192,710
52,262
55,951
Totals
£
132,328
5,679
138,007
138,007
132,328

There were no investment assets outside the UK.

The subsidiary company was dissolved shortly after the year-end.

continued...

Page 24

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

----- Start of picture text -----
16. STOCKS
2024 2023
£ £
Stocks 10,721 7,920
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 990 297
Other debtors 1,639 -
Prepayments and accrued income 15,188 28,795
17,817 29,092
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 74,165 23,516
Social security and other taxes 7,546 11,959
Other creditors 20,871 32,720
Accrued expenses 18,486 16,694
121,068 84,889
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Fixed assets 52,262 - 52,262 55,951
Investments 76,980 61,027 138,007 132,328
Current assets 48,251 26,271 74,522 276,546
Current liabilities (91,159) (29,909) (121,068) (84,889)
86,334 57,389 143,723 379,936
----- End of picture text -----

continued...

Page 25

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

20. MOVEMENT IN FUNDS

Unrestricted funds
Unrestricted funds
Restricted funds
The Fossil Festival
Arts Council - School and Museum
Partnership
The Wild Escape Scheme
Future Lab/What If
Museum Estate Development Fund
Connecting Coastal Culture
YorEarth Project
Sensing Creativity
Curatorial Fellowships
Cuture Declares Emergency
TOTAL FUNDS
Net movement in funds, included in the above
Unrestricted funds
Unrestricted funds
Restricted funds
The Fossil Festival
Arts Council - School and Museum
Partnership
The Wild Escape Scheme
Future Lab/What If
Museum Estate Development Fund
Connecting Coastal Culture
YorEarth Project
Research into Scarborough 400 history
Sensing Creativity
Curatorial Fellowships
Cuture Declares Emergency
TOTAL FUNDS		 Net
movement
At 1.4.23
in funds
£
£
252,580
(131,099)
-
(5,575)
15,390
(6,091)
589
(589)
-
(63)
111,377
(138,877)
-
25,195
-
5,895
-
(2,009)
-
16,000
-
1,000
127,356
(105,114)
379,936
(236,213)
are as follows:
Incoming
Resources
resources
expended
£
£
610,551
(747,339)
5,000
(10,575)
68,400
(74,491)
150
(739)
4,983
(5,046)
128,027
(266,904)
44,956
(19,761)
9,880
(3,985)
450
(450)
31,000
(33,009)
16,000
-
1,000
-
309,846
(414,960)
920,397
(1,162,299)		 Transfers
between
funds
£
(35,147)
5,575
-
-
63
27,500
-
-
2,009
-
-
35,147
-
Gains and
losses
£
5,689
-
-
-
-
-
-
-
-
-
-
-
-
5,689		 At
31.3.24
£
86,334
-
9,299
-
-
-
25,195
5,895
-
16,000
1,000
57,389
143,723
Movement
in funds
£
(131,099)
(5,575)
(6,091)
(589)
(63)
(138,877)
25,195
5,895
-
(2,009)
16,000
1,000
(105,114)
(236,213)

continued...

Page 26

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Unrestricted funds
Fossil Festival
Restricted funds
Arts Council - School and Museum
Partnership
The Wild Escape Scheme
From Local to Global
Future Lab/What If
Museum Estate Development Fund
TOTAL FUNDS		 Net
movement
At 1.4.22
in funds
£
£
434,069
(131,305)
-
(3,426)
434,069
(134,731)
-
(11,293)
-
589
-
(11,929)
-
(8,146)
-
111,377
-
80,598
434,069
(54,133)		 Transfers
between
funds
£
(50,184)
3,426
(46,758)
26,683
-
11,929
8,146
-
46,758
-		 At
31.3.23
£
252,580
-
252,580
15,390
589
-
-
111,377
127,356
379,936

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted funds
Fossil Festival
Restricted funds
Arts Council - School and Museum
Partnership
The Wild Escape Scheme
From Local to Global
Future Lab/What If
Museum Estate Development Fund
TOTAL FUNDS		 Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
533,176
(663,532)
(949)
(131,305)
22,250
(25,676)
-
(3,426)
555,426
(689,208)
(949)
(134,731)
68,400
(79,693)
-
(11,293)
1,350
(761)
-
589
68,835
(80,764)
-
(11,929)
19,930
(28,076)
-
(8,146)
128,027
(16,650)
-
111,377
286,542
(205,944)
-
80,598
841,968
(895,152)
(949)
(54,133)

continued...

Page 27

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

20. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
Unrestricted funds
Fossil Festival
Restricted funds
The Fossil Festival
Arts Council - School and Museum
Partnership
From Local to Global
Future Lab/What If
Museum Estate Development Fund
Connecting Coastal Culture
YorEarth Project
Sensing Creativity
Curatorial Fellowships
Cuture Declares Emergency
TOTAL FUNDS		 Net
movement
At 1.4.22
in funds
£
£
434,069
(262,404)
-
(3,426)
434,069
(265,830)
-
(5,575)
-
(17,384)
-
(11,929)
-
(8,209)
-
(27,500)
-
25,195
-
5,895
-
(2,009)
-
16,000
-
1,000
-
(24,516)
434,069
(290,346)		 Transfers
between
funds
£
(85,331)
3,426
(81,905)
5,575
26,683
11,929
8,209
27,500
-
-
2,009
-
-
81,905
-		 At
31.3.24
£
86,334
-
86,334
-
9,299
-
-
-
25,195
5,895
-
16,000
1,000
57,389
143,723

continued...

Page 28

SCARBOROUGH MUSEUMS, CULTURE AND CREATIVE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2024

20. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted funds
Fossil Festival
Restricted funds
The Fossil Festival
Arts Council - School and Museum
Partnership
The Wild Escape Scheme
From Local to Global
Future Lab/What If
Museum Estate Development Fund
Connecting Coastal Culture
YorEarth Project
Research into Scarborough 400 history
Sensing Creativity
Curatorial Fellowships
Cuture Declares Emergency
TOTAL FUNDS		 Incoming
resources
£
1,143,727
22,250
1,165,977
5,000
136,800
1,500
68,835
24,913
256,054
44,956
9,880
450
31,000
16,000
1,000
596,388
1,762,365		 Resources
expended
£
(1,410,871)
(25,676)
(1,436,547)
(10,575)
(154,184)
(1,500)
(80,764)
(33,122)
(283,554)
(19,761)
(3,985)
(450)
(33,009)
-
-
(620,904)
(2,057,451)		 Gains and
losses
£
4,740
-
4,740
-
-
-
-
-
-
-
-
-
-
-
-
-
4,740		 Movement
in funds
£
(262,404)
(3,426)
(265,830)
(5,575)
(17,384)
-
(11,929)
(8,209)
(27,500)
25,195
5,895
-
(2,009)
16,000
1,000
(24,516)
(290,346)

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the years ended 31 March 2024 or 31 March 2023.

22. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no issued share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up while he/she is a member, such amount as may be required not exceeding £1 each.

Page 29