2021-12-31-accounts - American Museum & Gardens

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

CONTENTS					PAGES
Trustees' Annual Report					3-6
IndependentAuditor's Report					7-9
Consolidated	Statement ofFinancial	Activities	(Incorporating	the
Income and	expenditure account)				10
Consolidated	& CharitY Balance Sheets
Consolidated	Statement ofCash Flows				12
Notes to the	Financial Statements				13—31
Detailed Income and Fxpendimre					32-36

Registered	charity name:	charity name:	The American Museum	and Gardens	and Gardens
Charity number			1106989
Company	registration	number	05282777
Registered	office		Claverton Manor
			Bath
			BA2 7BD
Trustees			Mr G Thomas
			Mr E Bayntun-Coward
			Mr R Bemays
			Mrs BBovender
			Mrs EScott (Formerly	De Forest Scott)
			Mr M E Haranzo
			Lady C Manning
			Mrs Lynne Sayer
			Dr R HWendorf
Auditor			Moors
			Chartered Accountants	8 Statutory Auditor
			30 Gay Street
			Bath
			BA12PA
Bankers			NatWest Bank Pic
			24-25 Stall Street
			Bad
			BA1 1QF
Solicitors			Stone King
			13Queen Square
			Bath
			BA1 2HJ
investment	Advisors		Rothschild Asset Management
			1 King William Street
			London
			EC4N 7AR
			Hamlin Capital Management		LLC
			640 5a Avenue
			New York
			NY 10019

			Unrestricted	Restricted	Endowment	Total	Total
			funds	furtrls	furrds	2021	2020
		Note	6	8	6	6
Income end endowments
Donations and legacies			9,103	494,131		603,234	710,398
Charitable activities			631,467			831,467	109,198
Other trading activities			327,379			327,379	148,264
Investment Income			115,857	68,427	25,975	210,269	236,289
Total income			1,083,805	562,558	25,975	1,672,339	1,204,149
Lxpenditure
Raising funds		4	81,021			81,021	77,289
Charitable actlviges		4&5	1,640,288	526,841	25,957	2,192,896	1,600,623
Other trading activities (HH)		4	285,599			286,599	158,513
Other trading activities (Charity)		4	41,502			41,502	67,564
Total expenditure			2,048,410	526,641	25,957	2,601,008	1,903,989
Net gains/(losses) on investments		8&9	907,159			907,169	724,480
Net income/[expenditure)			(67,446)	36,917	18	(21,610)	24,640
Transfers between funds		14
Actuariaf gains/(losses) cn defined	benefit
pension scheme		6	(126,000)			(126,000)	71,000
Foreign exchange gains/(losses)			25,517			25,517	(46,977)
Net movement In funds			(167,928)	36,917	18	(121,993)	48,663
Reooncglatlon offunds
Totalfunds broughtforward			6,091,346	512,927	15,395,937	21,990,210	21,941,547
Total funds carried forward			6,933,418	548,844	16,385,955	21,868,217	21,990,210

													Group		Charity	Charity		Group	Charity
													2021			2021		2020	2020
									Note				6					6	6
Fixed Assets
Tangible assets										7			11,365,281		1	1,366,276		11,583,062	11,573,245
Heritage assets										7a			25,750			25,750		25,750	25,750
Investment assets	In the		UK						8	6 20			8,039,753			8,045,261		8,312,886	8,283,614
Investment assets	outside the				UK					8			1,912,846			1,912,846		1,168,958	1,188,958
													21,363,630		21,360,133			21,090,666	21,061,667
Current Assets
Stocks										10			36,191			9,897		35,429	10,488
Debtors										11			175,021			233,707		265,344	343,266
Cash at bank and in		hand											273,916			203,447		303,249	264,652
													466,128			447,061		604,022	618,686
Creditors- amounts		falling
due within one year										12			(369,541)			(317,967)		(212,468)	(188,043)
Net Current Assets													115,687			129,084		391,654	430,643
Total assets less current			liabliities			excluding		pension asset					21,479,217		21,478,217			21,482,210	21,482,210
Creditors;Amounts		failing due			after more than				1 year
Defined benefit pension scheme asset													389,000			389,000		508,000	508.000
Net assets Including		pension			asset/(liability)								21,668,217		21,668,217			21,990,210	21,990,210
The funds ofthe charity
Endowmentfunds									14
Endowmentfunds		(group			and	charity)					11,614,162						11,614,144
Revaluation reserve			(group and charity)								3,771,793						3,771,793
													15,385,955		15,385,955			15,385,937	15,365,837
Restricted income funds									14				548,844			548,844		512,927	512,927
Unrestricted income		funds
Unrestricted income		funds		(group		and	charity)				5,544,418						5,583,346
Pension reserve (group and charity)											389,000						508,000
													5,933,418		5,933,418			6,091,346	6,091,346
Total charity funds									13				21,868,217		21,868,217			21,990,210	21,990,210
The trustees have prepared				group		accounts		In	accordance		with sation	398of Ihe Companies		Act 2008 and section 138ofthe				Charities Aot	2011.
These accounts are	prepared			in sccordenoe				with the special provisions				of Part 15ofthe Companies				Acl relating	lo small companies and
consititute the annual		accounts			required		by the		Companies		Act 2006 and are for		drculatlon to members ofthe company.
The nates farm part	ofthese			accounts.

				Group	Group
			Note	2021	2020
					8
Cash used in operations			21	247,662
Cash flows from investing activities
Inveslmsnt income				210,259	236,269
Purchases ofinvestments				(5,622,379)	(13,868,290)
Proceeds from sale of investments				5,165,966	16,666,002
Purchase nst ofdisposals of tangible		fixed assets		(30,731)	(4,556)
Cash provided by (used In) investing	activities			(278,886)	3,029,446
Increase In cash and cash equivalents		during the year		(29,333)	(766,766)
Cash and cash equivalents at the begining ofthe year				303,249	1,069,014
Total cash and cash equivalents at ths		end ofthe year		273,916

FO	R THE YEAR ENDED 31STDECEMBER 2021
1.	ACCOUNTING POLICIES (CONTINUED)
(IJ Trading stock
	Trading stock is stated at the lower ofcost snd net realisable value.
(g) Tangible assets
	AU tangible fixed assets are measured at cost loss accumulated depredsgon, except the charity's land	and		buildings,				which
	the charity has elected to use the most recent valuation as Its deemed cost There Is no lower limit for capitagsatlon						offixed assets.
	The depredation rates used are as fagows:
	Bugdings
	Motor vehicles
	Furniture and equipment
(h) Heritage assets
	The charity holds heritage assets, which are tangible fixed assets of historical, srtisUc or srrisnggc Importance					that are		heki to
	advance preservation and conservation ob)sctlves ofthe charky
	Under previous accounting pogcies these assets were not capitalissd and therefore are not represented		by	any figures					in these financial
	There is no reUable cost information and a conventional valuation approach wgl lack sufgrrient regabgky.
	Signglcant costs would be Involved In the reconstruction or analysis ofpast accounting records or valuations,					which	are		onerous	compared
	to the eddgional benefit derived by users ofthe accounts.
	Father dotage on Heritage assets Is given In ths Note 7a to these financial statements. ln 2017a bust portrait				of Churchill				was accessioned		Into
	the hergags cogsctlon (cost of625,000).This wgl be shown on the balance sheet as a heritage asset
	The very long expected lives ofthe heritage assets, due to thoir nature, valuo and need to be protected	snd			preserved				means that
	depreciation is not material end Is therefore, not provided. In addiUon many ofthe artefacts could actually		rise			in value		as time goes on,
	thus making depredation less applhable.
(I) Realised and unreagsed gains end losses on Investment assets
	Realised gains end losses are calculated by reference to the disposal proceeds less any disposal costs
	compared wkh the original cost or the market value at the last balance sheet date, whichever is later.
	Unreatlssd gains and fosses are calculated by comparing the market value at ths beginning ofthe year
	with that st the snd ofthe year for assets held st both dates and by comparing the cost with the market
	value et the end of ths year for assets acquired during the year and held at the year end.
(J)	Pension casts
	The museum operates 2 pension schemes, a defined benoflt scheme which is now closed to new members
	and a defined contribution scheme for new members.
	The cost of providing pension and related benefits Is charged to the SOFA over the employees' service
	fives on the basis of a constant percentage of earnings which is an estimate ofthe regular cast. Variations
	from regular cost, arising from periodic actuarial valuations sre agocated over the expected remaining
	service Uves ofcurrent employees on the basis ofe constant percentage of current snd estimated future
	earnings. Any dMsronce betweon the charge to the statement offinancial activUles and the contributions
	payable to the scheme Is shown as sn asset ore liability In the balance sheet.
	The assets ofthe defined contribution scheme are hald separately fram those ofthe charity. Ths annual
	contributions payable are charged to the SOFA
(k)	Foreign currencies
	Assets and liabilities In foreign currencies ere translated Into sterling at the rates of exchange rugng at
	the balance sheet date. Transactions in foreign currenmes are translated into stergng at the rate of
	exchange rugng at the date ofthe transaction. Exchange differences are taken into the statement of
	financial activities for the year.
(m)	Financial instruments
	Rnancial instruments are Wassified and accounted for, according to the substance ofthe contractual arrangement,
	as egher flnanolal assets, financial lisbiTiges or equity Instruments. An equity Instrument is any contract that			evidences
	a residual Interest In the assets ofthe company after deducting eg of its Uabgitles.
(n)	Funds
	The Charity has numerous restricted, endowment and designated funds. The Charity does not have an	established pogcy to
	make transfers between funds to or from the designated fund, instead transfers are made from time to time			as		the Trustees
	conskler appropriate.
	Each fund Is determined by reference to the original donation and restrictions sppged at that time. AU funds			are shown
	separately In the Note to the Accounts snd comprise ofa mbdure of tangible fixed assets, investments,	cash			and sundry
	assets.
(o)	Preparation of the accounts on a going conc'em basis
	tn the year to 31 December 2021 the Group made an operational loss of8928,666.This was offset by the growth of						the		investments.
	At the date of this report it held net assets ot621.868m a reduction of6122000 from 2020 (due to pensions				adJustment)
	Throughout 2021 end Into 2022, the Group has been impacted by the global pandemic and ths many repercussions
	arising from this. For the Museum thsso have Included an enforced suspension ofactivities and the subsequent					loss	8income.
	As a resWI ofIhe measures taken by the Group, the trustees believe that the company has sufyicient cash reserves to							enable
	it to contnue to meet its liabgtles as they arise. The group has undertaken a rostructure ofthe management			team so			as		to posiUon	its
	opersgons in 2022 for maximum effect. This has entailed doing away with ths position of Deputy Director		and recruiting						two new senior
	Directors.

									2021	2021	2021	2020
									Unrestricted	Restricted	Total	Total
										6		6
	Admissions								543,073		543,073	82,375
	Membership								26,877		26,877	16,471
	Other								61,517		61,517	10,352
									631,467		631,467	109,198
3	INCOMING		RESOURCES			FROM	GENERATED FUNDS
								2021	2021	2021	2021	2020
								Unrestdcted	Restricted	Endowment	Total	Total
	Voluntary	income						6		6		6
	Gifts and donations							9,103	478,814		487,917	610,355
	Job retention		scheme						15.317		15,317	100,Q43
								9,103	494,131		503,234	710,398
	Activities	for generating				funds
	Retell and	catonng		income				327,379			327,379	148,264
								327,379			327,379	148,264
	Investment		Income
	UK Income
	Investments		gated an		a recognised		stock exchange	64,698	68,427	25,975	159,100	197,903
	Investment	propsrges			income			5,748			5,748	11,008
								70,446	68,427	25,975	164,848	208,911
	US income
	Investments		listed on		a recognised		stack exchange	45,411			45,411	27,378
	Total							115,857	68,427	25,975	210,259	236,289

								Collections	Collections	Collections			Public
			Basis ofAllocation					Management			&	Programme		Fund		Raising	Investments	Governance	Total 2021	2020
								Exhibitions				(Education)
	Staff &	related costs		Per	capita					349,140			479,977			87,405	4,778		901,301	750,377
	Property	coals		Usage						501,801			466,357					4,222	992,380	865,730
	OMcs casts			Usage						187,610			188,000			13,616	10,227	22,275	421,728	132,369
	Trading	costs		Nature													285,599		285,599	158,513
	Tot aI								1,038,551			1,154,334				81,021	300,604	26,497	2.601,008	1,90/B989
																	2021		2020
																	0		6
	Included	within the	shove		smuu/rts		srs flis	following resources					expended:
		Audfl fees															14,800		14,100
		Other services			provided		by the	external		auditors							2,750		3,100
		Profit/(loss)		on	foreign	exchange											25,517		(46,977)
6.	STAFF	COSTS
																	2021		2020
																	6
		Wages	and	salaries													659,044		585,420
		Social security			costs												59,015		47,566
		Pension	costs		(Including		deflned beneflt adjustments)										87,081		55,580
																	785,140		688,566
		Included	viilhin		the pension costs				ars 63,825		of	defined contribution			pension cost charges.
		The chsrhy		employed		the following			number of people wflh emoluments							falling	wflhln the bands	as disclosod	below.
																	2021		2020
		Salary band															Number		Number
		6130,000 -		6140,000
		6120,000 -		Et30,000
		The average head count					of employees,			analysed		by	function, wss:
																	2021		2020
																	Number		Number
		Museum	staff														22		22
		Management		end administration													9		9
		AM Enterprises			Limited												17		17
																	48

FIXEDASSETS ~ TANGIBLE ASSETS
Charity
	Freehold	Motor	Equipment	Total
	Property	vehicles	Ik fixtures
		6	6
COST/VALUATION
At 1 January 2021	12,807,926	15,398	1,166,891	13,890,215
Additions			19,628	19,628
Disposals			(3,969)	(3,969)
At31stDecember 2021	12,807,926	15,398	1,162,550	14,005,874
DEPRECIATION
At I January 2021	1,372, 160	14,98n	t,nyo, 846	2,418,970
Disposals			(3,793)	(3,793)
Charge for the year	171,520	106	54,793	226,421
At 31stDecember 2021	1,543,660	15,073	1,080,845	2,639,598
NET BOOK VALUE
At 31st December 2021	11,264,248	325	101,705	11,366,276
At 31st December 2020	11,435,766	433	137,046	11,573,245

FO	R THE YEAR ENDED 3157DECEMBER 2021	R THE YEAR ENDED 3157DECEMBER 2021	R THE YEAR ENDED 3157DECEMBER 2021
7.	FIXEDASSETS - TANGIBLE ASSETS (continued)
	Group
				Freehold	Motor	Furniture 8	Total
				Property	vehicles	equipment
					6	6	6
	COSTIVALUATION
	At1 Janusry2021			12,807,926	15,398	1,211,275	14,034,599
	Additions					34,700	34,700
	Disposals					(3,969	(3,969)
	At 31stDecember	2021		12,807,926	15,398	1,242,006	14,065,330
	DEPRECIA))ON
	At I January 2021			1,372,160	14,965	1,064,411	2,451,536
	Dispossls					(3,793)	(3,793)
	Charge for the year			171,520	108	60,678	232,306
	At 31st December	2021		1,543,680	15,073	1,121,296	2,680,049
	NET BOOK VALUE
	At 31st December	2021		11,264,245	325	120,710	11,385,281
	At 31st December 2020			11,435,766	433	146,864	11,583,063
	Please refer to the relevant text given		In the 'Charity'	part of the Rxed Asset Note.
7a.	FIXEDASSETS - HERITAGE ABSETS					2021	2020
						Heritage	Heritage
						Assets	Assets
						6	6
	COSTNALUATION
	Gro up					25,750	25,750
	Additions
	At 31st December					25,750	25,750
	DEPRECIATION
	Group
	Charge for the year
	At 31stDecember
	NET BOOK VALUE
	At 31stDecember					25,750	25,750

FIXED A	SSET INVESTMENTS IN TH	E UK
					Notes	2021f	2021f	2020f	2020f
Charity
	Quoted investments
	Brought forward					7,474,635		6,240,235
	Additions					4,858,232		12,984,046
	Disposals					(4,746,095)		(14,152,806)
	Net gains/(losses)					202,981		2,656,310
	Market value 31st December						7.789,753		7,727,765
	Unquoted investments
	Brought forward					(29,272)		(14,023)
	Not gains/gossoc)					34,78D		(16,24q)
	Value 31st Decembor						5,508		(29,272)
	Cash held for Investment	purposes					25D,QOQ		260,101
	Investment Properties				20				325,000
	Total UK investmonts								8,283,614
	Historical cost of the quoted	investments		at 31st December 2021 was f7,110,139			(2020f7,538,161)
	Tha historical cost of the unquotsd		Investment		is not known.
Group	Quoted investments					2021	2021	2020 f'	2020 f
	Brought forward					7,474,635		6,240,235
	Addklons					4,858,232		12,884,046
	Di epos a la					(4,746,095)		(14 152 8D6)
	Net gains/(fosses)					202,981		2,656,310
	Market value 31st December						7,789,753		7,727,785
	Cash held for investment	purposes					25D,OOD		260,101
	Investment Properties								325,000
	Total UK investments						8,D39,753		8,312,886

9.	FIXED	ASSETINVESTMENTS OUTSIDE THE UK	ASSETINVESTMENTS OUTSIDE THE UK	ASSETINVESTMENTS OUTSIDE THE UK	ASSETINVESTMENTS OUTSIDE THE UK
	Charity	and Group				2021	2021	2020	2020
		Quoted Investments					8	8	8
		Brought forward				1,137,269		2,742,432
		Addigons				764,147		884,244
		Dispossls				(419,871)		(2,513,196)
		Net gains/(losses)				331,901		79,935
		Foreign exchange	gain/(loss)			24,474		(46,839)
		Market value 31stDecember					1,837,921		1,146,57S
		Cash held for investment		purposes			74,925		22,382
		Total Investments	held outside the UK				1,912,846		1,168,958
		Historical cost ofthe quoted			investments	at 31st December 2021 was 61,873,991
10.	STOCKS
							2021f		2020 f
	Charity
	Goods	for resale					9,897		10,588
	Group
	Goods for resale						36,191		35,429
11.	DEBTORS
							2021f		2020f
	Charity
	Trade debtors						9,419		1,840
	Amounts	due from Group undertakings					68,743		82,362
	VAT						31,559		43,150
	Prepayments and other debtors						I23,986		216,114
							233,707		343,266
	Group
	Trade debtors						9,429		3,900
	VAT gsbglty						32,382		44,784
	Prepayments snd other debtors						133,210		216,660
							175,021		265,344

12.	CREDITORCH AMOUNTS	CREDITORCH AMOUNTS	FALLING DUE	FALLING DUE	FALLING DUE	FALLING DUE	WITHIN ONE YEAR
											2021			2020
											6			6
	Chaihy
	1rade creditors										193,844			106,722
	Taxadon	and sodal security									30,118			13,494
	Accrusls	and sundry creditors									94,005			67,827 ~jj(f(743
	Group
	Trade cmdrtors										229,685			115,423
	1axagon	and sodsl security									42,735			24,018
	Pension	control										316
	Accruals	and sundry creditors									96,805			73,027
											369,541
13.	ANALYSIS OF NET ASSETS BETWEEN						FUNDS
								Tangible			Net current		Pension
								fixed assets	Investments		assets		scheme	Total
								6	6		6		F.	6
	Charity
		Endowments
		Map fund							333,652					333,652
		Permanent fund							1,349,767					1,349,767
		lan McCsgum	fund						36,264					36,264
		Properly fund						10,615,552	695,690					11,311242
		Education endowment				fund			525,974					525,974
		Field conservadon		fund					400,013					400,013
		Exhiblgon fund							402,579					402,579
		JJM Main fund							246,493					246,493
		JJM Pratt Wgl	fund						779,971					779,971
								10,615,552	4,770,	3				5,385,955
		Restricted funds
		Map fund										240		240
		lan McCagum	fund									114		114
		Education fund										3		3
		Field Conservation			fund							114		114
		Exhlbldon fund										212		212
		JJM Main fund										299		299
		JJM Prstt Wgl	fund									199		199
		School House	fund									62		62
		Capital Campaign									109,752			109,752
		Top Floor Flat										1,072		1,072
		Folk Art Gsgery									25,692			25,692
		Lincoln Bust									23,114			23,114
		Educabon programme				(Burberry)					3,614			3,614
		Transportation	fund											0
		New American	Garden			fund								0
		UK Appeal										1,465		1,465
		ACE markedng	fund											0
		Thanksgiving										4		4
		Textge Society										2,000		2,000
		Mount Vernon	Garden									0		0
		Web Site										2,137		2,137
		Roof repairs									20,000			20,000
		Claverton Theatre club										1,924		1,924
		Lecture sensa	fund								23,754			23,754
		Chgdrens play	area									9,677		9,677
		Period rooms									125,979			125,979
		Gardens Gulba	8woodlands				project				13,734			13,734
		Job retention scheme												0
		Canestoga Wagon		appeal								935		935
		Gardens endowment			(SLIFKA)						179,960			179,960
		Audience project										4,082		4,082
		Parasols										1,290		(1,290)
		Unrestricted funds						776,474	5,187,704		(419,760)		389,000	5,933,418
		Total funds											389,000	21,86

						Tangible	Tangible		Net current	Pension
						fixed	assets	Investments	assets	scheme	Total
							6	6	f	6	6
Group
	Endowments
	Map fund							333,652			333,652
	Permanent fund							1,349,767			1,349,767
	lan McCa9um	fund						36,264			36,264
	Property fund					10,615,552		695,690			11,311,242
	Education endowment			fund				525,974			525,974
	Field conssrvadon		fund					400,013			400,013
	Exhibibon fund							402,579			402,579
	JJM Main fund							246,493			246,493
	JJM Pratt Wgl	fund						779,971			779,971
						10,615,552		4,770,403			15,385, 55
	Restricted funds
	Mep fund								240		240
	lan McCagum	fund							114		114
	Education fund								3		3
	Field Conservation		fund						114		114
	Exhibigon fund								212		212
	JJM Main fund								299		299
	JJM Prett W91	fund							199		199
	School House	fund							62		62
	Capital Campaign								109,752		109,752
	Top Floor Flat								1,072		1,072
	Folk Art Gsgery								25,692		25,692
	Lincoln Bust								23,114		23,114
	Education programme								3,614		3,614
	Transportabon	fund									0
	Garden fund										0
	UK Appeal								1,465		1,465
	ACE marketing	fund									0
	Thanksgiving								4		4
	Textile Society								2,000		2,000
	Mount Yemen	Garden							0		0
	Web Site								2,137		2,137
	Roof repairs								20,000		20,000
	Claverton Theatre		rdub						1,924		1,924
	Lecture sensa	fund							23,754		23,754
	Chlldrens play	area							9,677		9,677
	Period rooms								125,979		125,979
	Garden Gutta	6woodlands			protect				13,734		13,734
	Job retention scheme										0
	Canestoga Wagon		appeal						935		935
	Gardens endowment			(SLIFKA)					179,960		179,960
	Audience pro)ect								4,082		4,082
	Parasols								1,290		(1,290)
	Unrestricted funds						795,479	5,182,196	(433,257)	389,000	5,933,418
	Total funds					I	I, 3		115,587	3

The charity and groups	uture mfn	lmum opera	ting lease paymenls In re	ffice equi	ment are as folkrws:
					2021		2020
					6
Within one year Within one and five years					2,144 4,408		2,307 3,919
Lease amounts paid in		the year
SIIEISIDIARY COMPANY
The charliy owns 100%of the Issued ordinary The eubsfdfaiys principal activity is to operate basis in the SOFA.			share capital of Amerfcan Museum the retag shops at the Museum. Ag	Enterprises Lirrdted, a company srdivities have been consolidated		registered In England (00486293) on e gne by line
					2021		2020
					6		6
Turnover Cost ofsales					318,833 (266,534)		148,264 (147,936)
Administrative JRSscheme	expenses	and finance costs			52,299 (26,065) 8,546		328 (15,577)
					34,780		(15,249)
(Loss)/Profit on Tax on loss an	ordinary ordinary	activities before tsxalfon activities			34,780		(15,249)
(Loss)/Profit on	ordinary	activities after taxation			34,780		(15,249)
The aggregate of Ihe assets, gabifiges and funds wee:
Assets Liabilitfss, share	capital and retained		earnings		125,825 (120.317)	77,516 (106,788)
Funds					5,508

			3	StMark's
				Gardens
VALUAltON
Brought forward	1 January 2021			325,000
Additions / disposals				(310,000)
Revaluations				(15,000)
At 31st December 2021
The revaluation	in 2014was	based on the asking price of Ihe equivalent	buildings	on sale within e quarter
mile radius ofthe mvestment		property.

				Gi'cup	Group
				2021	2020
				6	5
Net movement In funds				(121,993)	46,683
Add back depredation				232,306	227,672
Deduct investment income shown		In Investing	acttvites	(210,259)	(238,289)
Decrease/(Increase) in stock				(762)	3,918
Decrease/(increase) In debtors				90,323	(140,519)
Increase/IDecrease) in creditors				157,073	75,836
Investments non cash ad)ustment				(18,224)	(3,690,491)
Decrease/(Increase) in degned	benefit pension		scheme	119,000	(74,000)
Add back loss on disposal ofasset				88	0
Net cash used in operating activities				247,552	(3,785,210)

			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	2020
			2	K	2	2
Income and endowments
Donations and legacies			5,862	704,536		710,398
Charitable activities			109,198			109,198
Other trading actlvgles			148,264			148,264
Investmenls			169,707	48,262	18,320	238209
Total Income			433,031	752,798	18,320	1204,149
Expenditure
Raising funds			77,289			77,289
Charitable activities			1.169,141	416,199	18,283	1,603,623
Other trading activlges			158,513			158,513
Other			67,564			67,564
Total expenditure			1,472,507	418,199	18,283	1,906,989
Net gains/(losses) on investments			724.460			724,480
Net Income/(expenditure)			(314,996)	336,599	37	21,640
Transfers behveen funds
Actuarial gains/(losses)	on defined	benelit
pension scheme			74,000			74,000
Foreign exchange gains/(losses)			(45,977)			(46,977)
Net movement In funds			(287,973)		37	48,663
Reconcigatlon of funds
Total funds brought forward			8,379,319	176,328	16,385,900	21,941,547
Total funds carried forward			6,091,346	612,927	16,386,937	21,990,210

FINANCIAL PERFORMANCE	FINANCIAL PERFORMANCE	FINANCIAL PERFORMANCE	OF THE CHARITY	OF THE CHARITY	OF THE CHARITY
The consofidated statemenl		of	finencial adivilies		includes	the results	of the charity's	wholly	ovmed subsidiary	which operates the cafe
and retafi outlets at Ihe	Museum.			The summary	financial	performance	ofihe charily	alone	Is:
									Total	Total
									0	0
										6
Income and endowments
Donations and legacies									503,234	710,398
Charitable adivities									631,46T	109,198
Other trading actlvgles									7,000	5,000
Investments									210,259	236,269
Total Income									1,351,960	1,060,885
Expenditure
Raising funds									61.021	77.289
Charitable activities									2,192,886	1,603,623
Other trading acfivffies
Other									41,502	67,564
Total expenditure									2,315,409	1,748,478
Net gains/(losses) on investments									941,939	709431
Net income/(expenditure)									(21,510)	21,640
Transfers between funds
Actuarial gains/gosses)	on defined			benefit
pension scheme									(126,000)	74.000
Foreign exchange gains/(losses)									25,517	(46,977)
Net movement in funds									((2tdt93)	48,663
Reconcgiatlon offunds
Total funds brought forward									21,990,210	21,941,547
Total funds carried forward									21,868,217	21,990,210