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|CONTENTS|||PAGES|
|---|---|---|---|
|Trustees'<br>Annual<br>Report|||3-6|
|Independent|Auditor's<br>Report||7-9|
|Consolidated<br>Income and|Statement ofFinancial Activities (incorporating<br> expenditure<br>account)|the|10|
|Consolidated|&Charity Balance Sheets|||
|Consolidated|Statement<br>ofCash Flows||12|
|Notes to the|Financial Statements||13—31|
|Detailed Income and Expenditure|||32-36|





|Registered|charity name:|charity name:|The American<br>Museum|In Britain|In Britain||
|---|---|---|---|---|---|---|
|Charity number|||1106989||||
|Company|registration|number|05282777||||
|Registered|office||Claverton<br>Manor||||
||||Bath||||
||||BA2 7BD||||
|Trustees|||Mr GThomas||||
||||Mr E Bayntun-Coward||||
||||Mr R Bemays||||
||||Mrs BBovender||||
||||Mrs SDeForest Scott||||
||||Mr M EHaranzo||||
||||Mr0 D Harrison Jr||||
||||Lady C Manning||||
||||Mrs Lynne Sayer<br>Mr WJTyne Jr(resigned)||||
||||DrR H Wendorf||||
|Auditor|||Moore||||
||||Chartered<br>Accountants|&Statutory||Auditor|
||||30Gay Street||||
||||Bath||||
||||BA1 2PA||||
|Bankers|||NatWest Bank Pic||||
||||24-25 Stall Street||||
||||Bath||||
||||BA1 1QF||||
|Sogcitors|||Stone King||||
||||13Queen Square||||
||||Bath||||
||||BA1 2HJ||||
|Investment|Advisors||Rothschild Asset Management||||
||||1 King William Street||||
||||London||||
||||EC4N 7AR||||
||||Bessemer Trust||||
||||630Fifth Avenue||||
||||New York||||
||||New York 10111||||
||||USA||||
||||Hamlin Capital Management||LLC||
||||640B<br>Avenue||||
||||New York||||
||||NY 10019||||





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|||Unrestrloted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
||Nota|fundsf|funds<br>6|funds<br>6|2020<br>8|2019<br>6|
|Income and endowments|||||||
|Donations<br>and legacies<br>Charitable<br>acxlvttles||5,861<br>109,198|704,537||710,398<br>109,198|241,799<br>293,053|
|Other trading<br>actlvhles<br>Investment<br>income||148,284<br>169,707|48,262|18,320|148,264<br>236,2SS|284,319<br>270,725|
|Total Income||433,031|752,798|18,320|1,204,14S|1,089,896|
|Expenditure|||||||
|Raising funds<br>Charitable<br>activities|4<br>465|77,289<br>1,159,141|418,199|18,283|77,289<br>1,603,623|130,352<br>1,788,537|
|Other trading<br>activities<br>(HH)<br>Other trading<br>acSvltles (Charity)|4<br>4|156,513<br>67,564|||168,613<br>87,864|259,423<br>62,395|
|Total expenditure||1,472,507|416,199|18,283|1,906,989|2,240,707|
|Nat ga/ns/(losses)<br>on Investments|869|724,480|||724,480|1,366,042|
|Net Income/(expenditure)||(314,996)|S36,69S|37|21,640|216,231|
|Transfers<br>between funds|14||||||
|Actuar/al<br>gains/(losses)<br>on defined benefit<br>pension<br>scheme|6|74,000|||74,000|35,000|
|Foreign exchange gains/6osses)||(46,977)|||(46,977)|(I33,790)|
|Net movamant<br>in funds||(287,973)|336,699|37|48,663|116,441|
|Reconclgatlon<br>of funds|||||||
|Total funds<br>brought<br>forward||6,379,319|176,328|15,385,9DD|21,941,547|21,825,1D6|
|Total funds carried forward||6,091,346|612,927|16,386,937|21,990410|21,941,647|





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|||||||||Group|Charity||Group|Charity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020|2020||2019|2019|
|||||||Note|||6||6|6|
|Fixed Assets|||||||||||||
|Tangible assets||||||7||11,583,082|11,573245||11,808,280|11,795,522|
|Heritage assets||||||7a||25,750|25,750||25,750|25,750|
|Investmant<br>assets in||the UK||||88 20||8,312,886|8,283,614||6,696,643|6,682,620|
|Investment<br>assets outside tha UK||||||8||1,168,958|1,168,958||2,800,473|2,800,473|
|||||||||21,090,666|21,061,587||||
|Current Assets|||||||||||||
|Stodrs||||||10||35,429|10,568||39,347|11,229|
|Debtors||||||11||285,344|343,266||124,825|160,016|
|Cash st bank and|In|hend||||||303,249|264,852||150,861|13S,077|
|||||||||604,022|618,666||316,034|310,324|
|Creditors-<br>amounts||Iaglng|||||||||||
|due wghin ons year||||||12||(212,468)|(188,043)||(136,632)|(107,141)|
|Net Current Assets||||||||391,664|430,643||178,401|203,182|
|Total assets less|currant gabggies|||sxduding|pension asset|||21,482,210|21,482,210||21,607,547|21,607,647|
|Creditors: Amounts||faglng due after more than I||||year|||||||
|Defined bensfltpansion<br>scheme asset||||||6||508,000|508,000||434,000|434,000|
|Nat assets including||pension<br>asset/(llabglty)||||||21,990,210|21,990,210||21,941,647|21,941,547|
|The funds oftha|charity||||||||||||
|Endowment<br>funds||||||14|||||||
|Endowment|funds (group and|||charity)|||11,614,144|||11,614,107|||
|Revaluation|reserve (group and charity)||||||3,771,793|||3,771,793|||
|||||||||15,385,937|15,385,937||15,385,900|15,385,900|
|Restrkded<br>Income|funds|||||14||512,927|512,927||176,328|176,328|
|Unrestricted<br>Income||funds|||||||||||
|Unrestrkted<br>Income funds|||(group|end charity)|||5,583,346|||5,945,319|||
|Pension reserve|(group and chargy)||||||508,000|||434,000|||
|||||||||6,091,348|6,091,346||6,379,319|6,379,319|
|Total charity funds||||||||21,990,210|21,990,210||21,941,547|21,941,647|





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|FOR|THE YEAR ENDED 31STDECEMBER 2020||||||||
|---|---|---|---|---|---|---|---|---|
|1.|ACCOUNTING<br>POLICIES (CONTINUED)||||||||
|(I)|Trading stock||||||||
||Trading<br>stock la stated at the lower ofcost and net resllssble<br>value.||||||||
|(g)|Tangible assets||||||||
||All tangible<br>fixed assets sre measured<br>st cost less accumulated<br>depreciation,<br>except the charity's<br>land and|||bugdlngs,||which|||
||the charity has elected to use the most recant valuation as its deemed cost. There Is no lower limit for cspitsllsation||||of||fixed assets.||
||The depredagon<br>rates used sre as follows:||||||||
||2%an s straight<br>gne basis<br>Buildings||||||||
||25% on a reducing<br>balance basis<br>Motor vehkqes||||||||
||various rates Including 6-25% straight<br>line snd 25%redudng<br>Furniture<br>and equipment||||||balance||
|(h)|Heritage<br>assets||||||||
||The charity holds heritage assets, which are tangible<br>fixed assets of hlstorkal,<br>artistic orsdentgic<br>Importance<br>that are|||||held to|||
||advance<br>preservation<br>and conservation<br>ob(ecllves ofthe charily||||||||
||Under previous<br>accountfng<br>pogclas these assets wars not eapltalised<br>and therefore<br>are not represented|by||any flguros|||In these gnanobd||
||There Is no reliable cost Information<br>and a convantlonat<br>valuation<br>approach<br>wgi lack suMcfent reliability.||||||||
||SlgnEcant costs would be involved<br>In the reconstrucgon<br>or analyskr<br>ofpast accounting<br>records or valuations,<br>which||||sre onerous compared||||
||to the additional<br>benefit derived by users ofthe accounts,||||||||
||Futhar details an Heritage assets Is given<br>in the Note 7a to these gnsnckd<br>statements.<br>ln 2017s bust portrait of Churchill was accessloned|||||||Into|
||the heritage<br>collection (cost of525,000).This wgl be shovm on the babrnoe sheet as a herotsge asset||||||||
||The very long expected gvss ofthe heritage assets, due to their nature, value and need to be protected|and||preserved|||means that||
||dspreckdlon<br>Is not material and is therefore,<br>not provided.<br>In add%on many ofthe artefacts cauld actually dse in value||||||as time goes on,||
||thus making<br>dsprerdsgon<br>less applkable.||||||||
|(I)|Realised and unreallsed<br>gains and (oases on Investmant<br>assets||||||||
||Reagsed gains snd losses are cabulated<br>by reference<br>to tha disposal proceeds less any disposal costs||||||||
||compared<br>with the original cost or the market<br>value st the kist bakrnce sheet date, whichever<br>ie later.||||||||
||Unreallsed<br>gains snd losses are calculated<br>by comparing<br>the market value at the beginning<br>ofthe year||||||||
||with that st the end ofths year for assots held at both dates snd by comparing<br>the cost with the market||||||||
||value atthe end ofthe year for assets acquired<br>during the year and held at ths year end.||||||||
|())|Pension costs<br>The museum<br>operates 2 pension schemes, s defined benefit schema<br>which Bnow dosed to new members||||||||
||and a degned<br>contrlbugon<br>scheme for nsw members.||||||||
||The cost of providing<br>pension snd related benefits ls charged to the SOFA aver the employees'<br>service||||||||
||lives on the basis ofs constant percentage<br>of earnings<br>which ls sn estimate ofthe regubv cost. Vsdstlons||||||||
||from regular cast, arising from periodic actuarial<br>valuations<br>are agocatsd over the expected remaining||||||||
||service lives ofcurrent employees<br>on ths basis ofs constant percentage<br>of current and estimated<br>future||||||||
||earnings.<br>Any dlgerence<br>between<br>tha charge to the statement<br>offinancial acttvigas and tha contributions||||||||
||payable to the schema<br>Is shown as sn asset ore liability<br>In Ihe balance sheet.||||||||
||The assets ofthe defined contribution<br>scheme ara held separately<br>from those oftha charily. The annual||||||||
||centritwtlons<br>psyabls sre charged to the SOFA.||||||||
|(k)|Foreign currencies||||||||
||Assets and liebilges<br>In foreign currendes<br>are translated<br>Into sterling at the rates ofexchange<br>ruling at||||||||
||the balance sheet date. Tninsactlons<br>in foreign currandss<br>ara translated<br>Into stergng at the mte of||||||||
||exchange<br>ruling at tha date ofths transaction.<br>Exchange differences<br>sre taken Into the statement<br>of||||||||
||financial<br>acgvkles forthe year.||||||||
|(m)|Financial<br>Instruments||||||||
||Financial<br>Instruments<br>are classEed and accounted for, accordbrg to the substance<br>ofthe contractualarrangement,||||||||
||as either financial assets, financial<br>liabilities or equity instruments.<br>An equity Instrument<br>Is any contract|that||evidences|||||
||a residual Interest<br>In the assets ofthe company<br>aRer deducting<br>ag of Its liabgltles.||||||||
|(n)|Funds||||||||
||The Charity has numerous<br>restricted,<br>endowment<br>and designated<br>funds. The Charity does not have an|established|||policy to||||
||make transfers<br>between<br>funds to or from the designated<br>fund, Instead transfers<br>ara made from time to time|||as the Trustees|||||
||consider appropriate.||||||||
||Each fund fs determined<br>by reference to tha original donation<br>and restdrdions<br>applied at that time. Ag funds|||are shovm|||||
||separately<br>In the Note to the Acceunts<br>and comprise ofa mbdure oftangible fixed assets, Investmants,|cash and sundry|||||||
||assets.||||||||
|(o)|Preparation<br>ofthe accounts on a going concern basis||||||||
||In the year to 31 December 2020 the Group made an operational<br>loss ofF702,803.This wss offset by the||growth ofthe tnveslmente.||||||
||At the dale ofthis report it held nat assets of522.032m||||||||
||Throughout<br>the whole of2020 and Into 2021,tha Group has been Impacted<br>by the global pandemic<br>and the many||||repercussions||||
||arising from this. For the Museum these have Included<br>sn enforced suspension<br>ofactlviges and ths subsequent<br>toss|||||IfIncome.|||
||As a result ofths measures<br>taken by the Group, the trustees<br>believe that the company<br>hes su%slant cash|||reserves|to enable||||
||Itto contnue to meet lls gsblilles as they arise. The group has undertaken<br>cost cutgng measures<br>In late|2020 snd this|||||has given rtse||
||to soma restructuring<br>of senior managemanL<br>The Group continues to take advantage<br>ofthe Job retention||scheme snd||||various other grants.||





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||Coffactlons<br>Basis ofAffocstlon Management<br>8|Coffactlons<br>Basis ofAffocstlon Management<br>8|Public<br>Programme|Fund Raising|Investments|governance|Total 2020|2019|
|---|---|---|---|---|---|---|---|---|
|||Exhlblgons|(Education)||||||
|Stsff & rekdad costs<br>Properly costs<br>Office costs<br>Trading costs<br>Per capita<br>Usspe<br>Usape<br>Nature||292,208<br>437,881<br>30,954|387,659<br>423,958<br>30,984|88,478<br>10,813|4,034<br>38,454<br>158,513|3,911<br>21,164|750,377<br>865,730<br>132,369<br>158,513|777,354<br>848,048<br>357,881<br>259,423|
|Total||781,023|542,601|77,289|201,002|25,075|1,906,989|2,240,707|
||||||2020f||2019<br>8||
|Included|within the above amounts<br>sre the fogowlnp<br>resources expended:<br>AudR fees<br>Other services provided<br>by the external<br>auditors<br>ProNr(loss)<br>on foreipn exchange||||14,100<br>3,100<br>(46,877)||13,650<br>3,100<br>(133,790)||
|STAFF|COSTS||||2020f||2019||
||Wages snd sslsdes<br>Sodsl security costs<br>Pension costs (including|defined benefit adjustments)|||585,420<br>47,566<br>55,580||599,981<br>49,864<br>50,699||
||||||||700,344||



|The charity employed<br>tha foRowlng|number of people with emoluments|number of people with emoluments|number of people with emoluments|feglng wphln the bands as disdosed|below.||
|---|---|---|---|---|---|---|
|||||2020|2019||
|Salary band||||Number|Number||
|F130,000 - 5140,000|||||||
|5120,000 - 2130,000|||||||
|The average<br>head count of employees,||analysed|by function, was:|2020|2019||
|||||Number|Number||
|Museum stsff<br>Management<br>and administration<br>AM Enterprises<br>Umlted||||22<br>9<br>17||21<br>10<br>19<br>50|





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|Analysis|ofamount recognised<br>In|ofamount recognised<br>In|statement|statement|statement|ofother|ofother|comprehensive|Income||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2020|2019|
||||||||||||6000'$|f000's|
|||Asset return<br>less Interest|income||recopnlsed|||In the I&E|||196|135|
|||Experience gains/losses<br>on benefit||||obBgstlcn|||||17|18|
|||Egest a(assumptions<br>changes||on benefit|||obBgstlon||||(142)|(123)|
|||Total recognised|||||||||71|30|
|History ofexperience<br>gains and losses|||||||||||||
||||||||||||2020|2019|
||||||||||||6000's|6000's|
|Difference||between the asset return|and the||Interest||Income||||196|135|
|%of schema assets|||||||||||2.3%|-1.6%|
|Experience||gains and losses on BsbUities||(EOOO's)|||||||17|18|
|%ofscheme<br>BabiBUes|||||||||||0.0%|0.0%|
|Total amount<br>recopnlsed<br>In OCI (f000's)|||||||||||(142)|(123)|
|%of scheme<br>BabiBUes|||||||||||2.0%|2.0%|
|Ths Trustees estimate<br>that the contributlons|||||to the pension schema for the proceeding|||||year to be Hil.|||
|Analysis|ofthe change<br>In tha daffnad beneRt obggatlon||||||||||2020<br>6000's|2019<br>f000's|
|||Opening<br>defined<br>benefit obligation|||||||||1,511|1,441|
|||Current seNIce cost|||||||||6|6|
|||Interest cost|||||||||29|38|
|||Actuarial<br>(pains)/losses|||||||||125|105|
|||Benefits paid|||||||||(80)|(79)|
|||Closing defined beneRt obBgatlon|||||||||1,591|1,511|
|Analysis|oftha change<br>In the fair value|||ofplan assets|||||||2020<br>E'000's|2019<br>f000's|
|||0psnlnp fair value<br>ofphn|assets||||||||1,945|1,840|
|||Interestlncome|||||||||38|49|
|||Asset gain/(losses)|||||||||196|135|
|||Cantrlbutions|||||||||||
|||Benefds paid|||||||||(80)|(79)|
|||Closing fair value ofplan|assets||||||||2,099|1,945|
|Ufe expectancy based on mortsgty|||assumptions||||||||||
|Assuming||a retirement<br>sge of65, Ihe Ufe||expectancy|||In|years ara as foBows:|||||
||||||||||||2020|2019|
||||||||||||Years|Years|
|||For a male egad 65 now|||||||||17.3|17.3|
|||At 65fora male member|aged|45 now|||||||21.7|21.7|
|||For e female aped 65 now|||||||||17.9|17.9|
|||At 65fora female member egad 45now|||||||||22.4|22.4|





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|FOR|THE YEAR ENDED 31STDECEMBER 2020|THE YEAR ENDED 31STDECEMBER 2020||||||
|---|---|---|---|---|---|---|---|
|7.|FIXEDASSETS - TANGIBLE ASSETS(continued)|||||||
||Group|||||||
||||Freehold||Motor|Furniture<br>&|Total|
||||Property<br>6||vehicles<br>6|equipment<br>6||
||COSTNALUATION|||||||
||At 1 January 2020<br>Additions||I2,806,051<br>1,875||15,398|1,209,669 <br>2,681|14,031,118<br>4,556|
||Disposals<br>At31stDecember 2020||12,807,926||15,398|(1,075)<br>1,211,275|(1,075)<br>14,034,599|
||DEPRECIATION|||||||
||At 1 January 2020||1,200,840||14,821|1,009,379|2224,840|
||Dlspoaals|||||(975)|(975)|
||Charpe forthe year<br>At31stDecember 2020||171.520<br>1,372,160||144<br>14,965|56,008<br>1,064,412|227,872<br>2,451,537|
||NET BOOK VALUE|||||||
||At 31stDecember 2020||11,435,766||433|146,864|11.583,062|
||At 31st December 2019||11,605,411||577|200,290|11,806,276|
||Please refer to the relevant text given|In the 'Charity'|part of Ihe Rxed Asset Nota.|||||
|Ta.|FIXEDASSETS - HERITAGE ASSETS|||||2020|2019|
|||||||Heritage|Heritage|
|||||||Assets|Assets|
||COSTNALUATION|||||||
||At I January 2020|||||25,750|25,000|
||Additions||||||750|
||At 31st December 2020|||||25,750|25,750|
||DEPRECIATION|||||||
||At I January 2020|||||||
||Charge forthe year|||||||
||At 31stDecember 2020|||||||
||NET BOOK VALVE|||||||
||At 31stDecember 2020|||||25,750|25,750|



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|FIXEDA|SSETINVESTMENTS<br>IN TH|E UK|||||||
|---|---|---|---|---|---|---|---|---|
||||||2020|2020|2019|2019|
||||||Notes|8|8||
|Charity|||||||||
||Quoted investments||||||||
||Brought forward||||6,240,235||6,050,363||
||Addhlons||||12,984,046||4,225,123||
||Dlspose le||||(14,152,808)||(4,881,599)||
||Net gains/posses)||||2,658,310||846,348||
||Market value 31st December|||||7,727,785||8,240,235|
||Unquotsd<br>investments||||||||
||Brought forward||||(14,023)||(248)||
||Net gains/Oosses)||||(15,249)||||
||Value 31st December|||||(29,272)||(14,023)|
||Cash held for Investment|purposes||||260,101||118,408|
||Investment<br>Properties||||20|325,000||340,000|
||Total UK Investments|||||8,283,814||6,682,620|
||H/ster/cal<br>cost ofthe quoted|investments||at 31st December 2020wes 67,538,161|||||
||The historical cost ofthe unquoted||investment||Is not known.||||
|croup|||||2020|2020|2019|2019|
||Cluoted Investments||||8||8|k|
||Brought forward||||6,240,235||6,050,363||
||Additkrns||||I2,984,046||4,225,123||
||Disposals||||(14,152,806)||(4,881,599)||
||Net gains/gasses)||||2,656,310||846,348||
||Market value 31st December|||||7,727,785||6,240,235|
||Cach held for Investment|purposes||||260,101||116,408|
||Invsatmanl<br>Properties|||||325,000||340,000|
||Total UK investments|||||8,312,886||6,696,643|



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|9.|FIXEDASSETINVESTMENTS OUTSIDE THE UK|FIXEDASSETINVESTMENTS OUTSIDE THE UK|FIXEDASSETINVESTMENTS OUTSIDE THE UK|FIXEDASSETINVESTMENTS OUTSIDE THE UK|||||
|---|---|---|---|---|---|---|---|---|
||Charity snd Group<br>Quoted investments||||2020<br>8|2020<br>6|2019<br>8|2019<br>8|
||Brought forward<br>AddNons||||2,742,432<br>884,244||2,231,463<br>578,155||
||D/sposals||||(2,513,196)||(324,462)||
||Net gains/gooses)||||79,935||366,222||
||Fore/gn exchange<br>gain/goes)<br>Market value 31st December|||||1,146,576||2,742,432|
||Cash held for Investment||purposes|||22,382||58,042|
||Total Investments|held outside the UK||||||2,800,474|
||Historical cost ofthe quoted|||Investments|st31st Deoember 2020was 67,538,'161||||
|10.|STOCKS||||||||
|||||||2020||2019|
|||||||6||8|
||Charity<br>Goods for resale|||||10,568||11,229|
||Group||||||||
||Goods for resale|||||||39,347|
|11.|DEBTORS||||||||
|||||||2020||2019|
|||||||6||8|
||Charity<br>Trade debtors|||||1,640||6,140|
||Amounts<br>due from Group undenaklngs|||||82,382||71,728|
||VAT|||||43,150||3,879|
||Prepsymenls<br>snd other debtors|||||216,114||78,470|
|||||||343,266||160,018|
||Group||||||||
||Trade debtors|||||3,900||9,549|
||VAT gsbglty|||||44,784||3,679|
||Prepsyments<br>and other debtors|||||216,660||111,597|
|||||||265,344||124,826|





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|12.|CREDITORS: AMOUNTS<br>FALLING DUE|CREDITORS: AMOUNTS<br>FALLING DUE|WITHIN ONE YEAR||2020<br>6||2019f|
|---|---|---|---|---|---|---|---|
||Charity<br>Trade credfors<br>Taxatbn snd sordelsecurlty<br>Accruals snd sundry creditors||||106,722<br>13,494<br>67,827||38.300<br>13,566<br>55,274<br>107,141|
||Group<br>Trade wedltors<br>Taxatlon and sordsl security<br>Accruals snd sundry creditors||||115,423<br>24,018<br>73,027||48,050<br>28,107<br>60,474<br>136,632|
|13.|ANALYSIS OF NETASSETS BETWEEN||FUNDS<br>Tangible|Nst current||Pension||
||||fixed assets<br>f|Investments<br>6|assets|scheme<br>f|Total|
||Charity|||||||
||Endowments<br>Map fund<br>Permansntfund<br>Urn McCa<br>gum<br>fund<br>Property<br>fund<br>Education<br>endowment<br>Field conssrvaUcn<br>fund<br>Exhlbf ion fund<br>JJM Main fund<br>JJM Prstt Wlp fund|fund|I0,538,894|333,652<br>1,349,749<br>36,264<br>772,348<br>525,974<br>400,013<br>402,579<br>248,493<br>779,971|||333,652<br>1,349,749<br>38,264<br>11,311,242<br>525,974<br>400,013<br>402,579<br>246,493<br>779,971|
||||1D,538,894|4,847,043|||15,385,937|
||Restricted funds<br>Map fund<br>lsn McCapum fund<br>Education<br>fund<br>Field ConservaUon<br>fund<br>Exhibition tund<br>JJM Main fund<br>JJMPraltlMB<br>fund<br>School House fund<br>Capfst Campsipn<br>Top Roor Rat<br>Folk Art GaPery<br>Lincoln Bust<br>Education<br>propramme<br>Transportation<br>fund<br>Garden fund<br>UK Appeal<br>ACE marketing<br>fund||||277<br>422<br>8S4<br>210<br>179<br>155<br>490<br>1,187<br>39,206<br>25,692<br>65,114<br>4,384<br>2,744<br>13<br>1,925||277<br>422<br>884<br>210<br>179<br>155<br>490<br>1,187<br>0<br>39,206<br>25,692<br>65,114<br>4,384<br>0<br>2,744<br>13<br>1,925|
||Thsnksplvlnp<br>TexUls Sodety<br>Mount Yemen Garden||||I<br>2,000<br>BD7||1<br>2,000<br>907|
||Events||||2,137||2,137|
||Roof repairs<br>Clavenon<br>Theatre<br>Mub||||244,350<br>1,827||244,350<br>1,827|
||Lecture 88ri88 fund||||24,846||24,846|
||ChB drone<br>play area<br>Period rooms||||9,177<br>74,074||9,177<br>74,074|
||Gardens Gulls 8 woodlands<br>Job retention scheme||prefect||10,727||10,727<br>0|
||||0||512,927|-|512,927|
||Unrestdcted<br>funds||1,044,168|4,634,801|(95,624)|608,000|6,091,346|
||Totslfunds||11,583,062|9,481,844|417,304|508,000|21,990,210|





## 

## 

## 

|||||Tangible||Nst current|Nst current|Pension||
|---|---|---|---|---|---|---|---|---|---|
|||||ffxed assets|Investments||assets|scheme|Total|
|||||6||6|6|F.||
|Group||||||||||
||Endowments<br>Map fund<br>Permanent<br>fund<br>lan McCagum fund<br>Property fund<br>Educabcn endowment<br>Field conservation<br>fund<br>Exhibition<br>fund<br>JJM Mein fund<br>JJM Pratt Wgl fund|fund||I0,538,894||333,6S2<br>1,349,749<br>36,264<br>772,34S<br>525,974<br>400,013<br>402,579<br>246,493<br>779,971|||333,652<br>1,349,749<br>36,264<br>11,311,242<br>525,974<br>400,013<br>402,579<br>246,493<br>778,971|
|||||10,538,894||4,847,043|||15.385,937|
||Restricted funds<br>Msp fund<br>lan MOCagum<br>fund<br>Education<br>fund<br>Field Conservation<br>fund<br>Exhibition<br>fund<br>JJM Main fund<br>JJM Prstt Wgl fund<br>School House fund||||||277<br>422<br>884<br>210<br>179<br>155<br>490<br>1,187||277<br>422<br>884<br>210<br>179<br>155<br>490<br>1,187<br>0|
||CapitslCsmpalgn<br>Top Hoor Flat<br>Folk Arl Gallery<br>Lincoln Bust<br>Education<br>programme<br>Transportation<br>fund<br>Garden fund<br>UK Appeal<br>ACE marketing<br>fund<br>Thanksgiving<br>Textile Sodety<br>Mount Vernon Garden<br>Events<br>Roof repalm<br>Claverton Theatre<br>chrb<br>Lecture series fund<br>Chlldrens<br>play area<br>Period rooms<br>Garden Gugla & woodlands<br>Job retention scheme||protect||||39,206<br>25,692<br>65,114<br>4,384<br>2,744<br>13<br>1,92S<br>1<br>2,00D<br>907<br>2,137<br>244,350<br>1,827<br>24,846<br>9,177<br>74,074<br>1 D,727||39,206<br>25,692<br>65,114<br>4,364<br>0<br>2,744<br>13<br>1,925<br>1<br>2,MD<br>907<br>2,137<br>244,350<br>1,827<br>24,846<br>9,177<br>74,074<br>I0,727<br>0|
||||||0|0|512,927|0|512.927|
||Unrestricted<br>funds|||1,044,168||4,634,601|(95,623)|508,000|6,091,346|
||Total funds|||11,583,062||9,4S1,844|417,304|508,000|21,990,210|





## 

## 

## 

## 




## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

||||||||||||2020<br>8|2019f|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||W8hln one year||||||||||2,307|1,191|
||Within one and||five years||||||||3,919|1,489|
||||||||||||6,226|2,680|
||Lease amounts||paid<br>In the||year||||||2,260|1,191|
|SUBSIDIARY COMPANY|||||||||||||
|The charily owns 100%of|||the Issued||ordinary||share capital ofAmerican|Museum||Enterprises|Limited, s company|registered<br>kr England (00486293).|
|The subsidiary's<br>principal||scglvlty ls to operate|||||the retail shops st the Museum.||Ag|activities have been consolidated||on s gne by gne|
|basis|In the SOFA.||||||||||||
||||||||||||2020|2019|
||||||||||||8|8|
||Turnover||||||||||148,284|284,319|
||Cost ofsales||||||||||(147,938)|(245,853)|
||||||||||||328|38,466|
||Administrative|expenses||and finance coals|||||||(15,577)|(52,240)|
||||||||||||(15,249)|(13,775)|
||(Loss)/Prom<br>an||ordinary|actlvltles||before taxagon|||||(15,249)|(13,775)|
||Tax on loss on|ordinary||scgvMes|||||||||
||(Loss)/Profit<br>on||ordinary|srdMtles||after tsxstlon|||||(15,249)|(13,775)|
|||||||||||||(13,77|
||The aggregate|ofthe assets, liabgltles and funds was:|||||||||||
||Assets||||||||||77,516|87,198|
||Llabhhies, share||capital|and retained|||earnings||||(106,788)|(101,219)|
||Furids||||||||||(29,272)|(14.023)|



## 

## 



## 

## 

## 

## 

|||||Group|Group|
|---|---|---|---|---|---|
|||||2020|2018|
|||||6|6|
|Net moverrwnt<br>In funds||||48,663|116,441|
|Add back depredation||||227,672|223,304|
|Deduct Investment|Income shown|In investing|actlvltes|(238,289)|(270,725)|
|Decrease/(Increase)|In stook|||3,918|(9,464)|
|Decrease/(Increase)|In debtors|||(140,519)|271,297|
|Increase/(Decrease)|In credkors|||75,836|19,761|
|Investments<br>non cash adlustmsnt||||(3,690,491)|(996,761)|
|Decrease/Cncrease)|in defined benagt pension scheme|||(74,000)|(35,000)|
|Add back loss on disposal ofasset||||||
|Correcgon for pubgcetlons<br>stock sd/ustment|||In HH|||
|Net oash used<br>In|operating<br>activities|||(3,785,210)|(681,147)|



## 

|||||Group|Charity|Group|Charity|
|---|---|---|---|---|---|---|---|
|||||2020|2020|2019|2019|
|||||6|6|F.|6|
|Flnandal|assets|||||||
|Investments<br>(at fair||value through|Income and expenditure)|9,481,844|9,452,572|9,497,116|9,483,094|
|Cash and|bank balances|||303,249|264,852|150,861|139,077|
|Debtors (excluding||prepaymants)||48,684|127,152|13,228|81,548|
|Flnandal|llabl Sties|||||||
|Creditors||||212,468|188,043|136,632|107,141|





## 

## 

## 

|||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|2019|
|||||6|6|6|6|
|Income and endowments||||||||
|Donations snd legacies||||37,777|204,022||241,799|
|Charitable<br>sctlvgles||||293,053|||293,053|
|Other trading scgvlges||||284,319|||284,319|
|Investments||||166,036|104,889||270,725|
|Total Income||||781,185|308,711||1,089,899|
|Expenditure||||||||
|Raising funds||||130,352|||130,352|
|Charitable<br>adlvgles||||1,343,175|273,842|171,520|1,788,537|
|Other trading<br>acgvgles||||259,423|||259,423|
|Other||||62,395|||62,395|
|Total expenditure||||1,795,345|273,842|171,520|2,240,707|
|Net gales/gooses)|on investments|||1,337,237||28,805|1,368,042|
|Net income/(expenditure)||||323,077|34,869|(142,716)|215,231|
|Transfers<br>between|funds|||||||
|Actuarial<br>gains/gooses)||on defined|benefit|||||
|pension scheme||||35,000|||35,000|
|Foreign exchange|galrulgosses)|||(133,790)|||(133,790)|
|Net movement<br>In|funds|||224,287|34,869|(142,716)|116,441|
|Reoonolgatlon<br>of|funds|||||||
|Total funds<br>brought|forward|||8,155,032|141,459|15,528,815|21.825,106|
|Total funds carried forward||||6,379,319|176,328|16,386,900|21,941,647|





## 

## 

|and retag outlets at|the|Museum<br>The summery<br>gnsncbrl<br>performanc|e<br>ofthe charity alone ts:||
|---|---|---|---|---|
||||Total|Total|
||||2020|2019|
||||6|6|
|Income snd endowmentc|||||
|Donagons<br>and legacies<br>Chargable<br>activities|||710,398<br>109,188|241,799<br>293,053|
|Other trading adlvNss|||5,000|38,670|
|Investments|||236,289|270,725|
|Total income|||1,060,685|844,248|
|Expenditure|||||
|Raising funds|||77,289|130,352|
|Charitable<br>activities|||1,603,623|1,788,537|
|Other trading<br>scthrltles|||||
|Oitwr|||87,564|62,394|
|Total expenditure|||1,748,476|1,981,283|
|Net gains/gosses)|on Investments||709,231|1,352,266|
|Net income/(expenditure)|||21,640|216,230|
|Transfers<br>between|funds||||
|Actuarial<br>gains/gooses)||on defined benefit|||
|pension<br>scheme|||74,000|35,000|
|Foreign exchange|gains/gooses)||(46,977)|(133,790)|
|Net movement<br>In|funds||48,663|116,440|
|Reconclgatlon<br>of|funds||||
|Totalfunds<br>broughtforward|||21,941,547|21,825,107|
|Total funds carried forward||||21,941,547|





## 

## 

## 

||||||2020|2019|
|---|---|---|---|---|---|---|
||||||6|6|
|INCOME|||||||
|Memberships|||||19,471|25,813|
|Admissions|||||82,375|229,437|
|Other Income|||||10,352|37,804|
|AM Enterprises<br>Ltd|||||148,264|284,319|
||||||257,462|577,372|
|DEPARTMENTAL|EXPENSES||||||
|Property<br>Management<br>Visitor Experience<br>Curatorial|||||504,573<br>388,204<br>211,431<br>129,002|499,601<br>559,021<br>253,167<br>139,166|
|JJM expenses<br>Rnanca|||||19,016<br>55,781|14,754<br>59,591|
|Fundrshlng<br>Garden|||||2,870<br>171,193|20,500<br>222,652|
|Friends 8 Mamhers|||||||
|Restricted expenditure<br>AM Enterprises<br>Ltd expenditure|||Encluding|recharge)|266,406<br>163,513|215,830<br>298,094|
||||||1,911,969|2,279,377|
|OPERATING SURPLUS/(DEFICIT)|||||||
|OTHER INCOMEIEXPENDITURE|||||||
|Investmsnt<br>Income|UK||||208,911|194,757|
|Investment<br>Income|US||||27,378|75,968|
|Donations 8YEA|||||710,398|241,799|
|Revaluation<br>ofInvestment<br>property<br>Invsshrlsnt<br>gain/Boss)<br>Foreign exchange<br>gain/(loss)<br>Fee%gas Income fram HH|||||724,480<br>(46,977)<br>5,000|1,366,042<br>(133,790)<br>38,870|
|Grants|||||||
||||||1,629,190|1,783,446|





## 

## 

## 

||||2020|2019|
|---|---|---|---|---|
|||||8|
|PROPERTY|||||
|Stalf coats|||46,792|60,915|
|Office costs and|travel||72|82|
|Contract maintenance|||5,671|410|
|Coundl tsx &water|||11,229|27,969|
|Telephone<br>& Internet|||5,216|5,420|
|Recyollng|||1,748|2,254|
|Electricity<br>&oi1|||65,417|58,515|
|Insurance|||39,111|34,607|
|Building malntesnce|||33,366|29,095|
|Property damage|||11,490|25,935|
|Vehicle costs|||563|5,712|
|Cleaning<br>& pest control|||13,814|8,2'78|
|Investment<br>property|||3,143|7,368|
|Security &fire|||10,871|12,586|
|Equipment<br>and leasing|||1,222|393|
|Depredation<br>snd|loss on disposal||254,850|222,062|
|||||499,601|
|MANAGEMENT|||||
|Staff costs tinct redundancy)|||233,977|228,447|
|Oflhe costs 8 carriage|||11,879|10,191|
|Travel||||82|
|Pension expense|gncludlng|FRS17)|55,580|50,699|
|Rewullment<br>and|HR advice||6,370|1,231|
|Training|||592|267|
|Professional fees|||21,134|180,598|
|Investment<br>broker fess|||37,777|38,174|
|ITand Internet|||5,696|14,049|
|Management<br>Board costs|||71|265|
|Staff welfare|||6,992|6,013|
|Office equipment|||2,429|1,734|
|Pubgc relations|||9|47|
|Subscrllrtlons||||574|
|Directors travel|||1,228|7,771|
|Directors development|||4,470|18,560|
||||388304|559,021|





## 

## 

## 

||||||2020|2019|2019|
|---|---|---|---|---|---|---|---|
||||||8|6||
|VISITOR EXPERIENCE||||||||
|Stag costs|||||169,728|157,925||
|Ot8cs costs|||||136||106|
|Travel and training|||||790||1,714|
|Interecthre<br>exhlbmon||||maintenance|||111|
|Marketing|||||21,220|28,128||
|Volunteers<br>travel|||||5,148|18,437||
|Volunteers<br>expenses|||||702||835|
|Pdntm<br>t d|N||||144||13|
|Webslte|||||1,600|||
|PutEc rehtions|||||975|||
|Events|||||5,862|32,419||
|Workshops|||||||47|
|Membership|friends||||186||3,170|
|Compgmentary||tickets|||1,440||3,842|
|Learning<br>snd|Education||||644||1,465|
|Visitor experience|||other||2,978||4,953|
||||||211,431|253,167||
|CURATORIAL||||||||
|6taff costs|||||80,522|82,629||
|Office expenses|||||250||387|
|Travel &dogrlng|||||393||1,874|
|Exhlbluons|||||27,875|21,174||
|Exhibition<br>Improvements|||||905||2,385|
|Maps|||||||45|
|Conservation|||||2,674||3,564|
|Cogecdons<br>management|||||2,577||2,783|
|Cogecuon<br>photography|||||||2,371|
|Christmas<br>at|Clsverton||||5,414|11,459||
|Library|||||1,581||2,534|
|Journal|||||5,878||7,277|
|Publications|stock|||||||
|Freehnce<br>design|||||||675|
|Grarrls|||||||50|
||||||129,002|139,168||
|JJM||||||||
|Olgce costs|||||||55|
|Travel|||||||53|
|Etartrlclty|||||2,153||659|
|Rant|||||18,250||9,780|
|Rates|||||613||1,527|
|Telephone||||||||
|Mainteance|||||||813|
|Fire &security|||||||1,067|
|Insurance|||||||800|
|Professtonslfaes||||||||
||||||19,018|I|4,754|





## 

## 

## 

|FOR THE Y|EAR ENDED 31STDECEEIBER2020|||
|---|---|---|---|
|||2020|2019|
||||6|
|FINANCE||||
|Staff costs||40,344|34,291|
|Office costs|||13|
|Travel|||63|
|Bank charges||4,856|6,187|
|Finance AMIS projects||1,917|84|
|Finance prcfsslonal fess|||13,073|
|Ledger costs||5,588||
|Payroll costs||3,078|2.890|
|||55,781|56,591|
|FUNDRAISING||||
|Stsft costs and travel|||330|
|Ollke costs||||
|Fundrslslng|development|2,270|20,170|
|||2,870|20,600|
|GARDEN||||
|Staff costa||91,023|91,391|
|OtSCS costs||87|157|
|Travel||80|424|
|Equipment<br>8|repalm|3,242|2,662|
|Gmuhds<br>mallltahsnca||2712|4,287|
|Development|||2,700|
|Infmstrurdure||71808|111,514|
|Traswork||900|7,528|
|Plants||1,316|1,934|
|Health 8 safety||25||
|Volunteers||0|56|
|||171,193||