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|CONTENTS|||||PAGES|
|---|---|---|---|---|---|
|Trustees'
Annual
Report|||||3-6|
|Independent|Auditor's
Report||||7-9|
|Consolidated|Statement|of Financial Activities|(incorporating|the||
|income and|expenditure|account)|||10|
|Consohdated|& Charity|Balance Sheets||||
|Consolidated|Statement|ofCash Flows|||12|
|Notes to the|Financial
Statements||||13—31|
|Detailed
Income and Expenditure|||||32-36|
|Registered|Registered|charity name:|charity name:|The American|Museum|Museum|Museum|and|and|Gardens|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 Bernays||||||||
|||||Mrs V Richard||||||||
|||||Mrs E De Forest|||Scott|||||
|||||Mr M Haranzo||||||||
|||||Lady C Manning||||||||
|||||Mrs LSayer
Mr A Tinniswood|||(Appointed|||15s March 2022)||
|||||Mr D Galbreath
(Appointed
14sJune 2022)
Ms J Kingsley
(Appointed 13"September 2022)
Mr A Comba (Appointed
13sSeptember 2022)||||||||
|||||Ms A Millman
(Appointed
13eSeptember 2022)
Ms K Pennington
(Appointed
13'"September 2022)||||||||
|Auditor||||Moore||||||||
|||||Chartered
Accountants||||&|Statutory||Auditor|
|||||30Gay Street||||||||
|||||Bath||||||||
|||||BA1 2PA||||||||
|Bankers||||NatWest
Bank|Pic|||||||
|||||24-25 Stall Street||||||||
|||||Bat||||||||
|||||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 5th Avenue||||||||
|||||New York||||||||
|||||NY 10019||||||||
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|KEY RISKS IDENTIFIED|KEY RISKS IDENTIFIED|KEY RISKS IDENTIFIED|||||||||RISK MITIGATION|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|1.|Inability
to raise|funds|for the||redevelopment||||of|the|Senior team are reaching|out|and making|bids to||
||exhibition
gallery,|Manor||House|||and|Coach-house|||major UK and US funders|and|Foundations.|||
||arden wall|||||||||||||||
|2|Current
planned
attractions|||do|not||attract|the|required||Greater
use
of
internal||resources|in|the|
||footfall
to support|the|outgoing|||expenditure|||for|the|development
of the family|attractions
and||holiday||
||Museum as a whole||||||||||events|||||
|3.|Due to cash flow,|drawdowns|||deplete the investment||||||Senior team
will
modify|both|pay
and|non-pay||
||porffolio so dividends
received||||decrease||||||expenditure
levels
and|take|steps
to increase|||
||||||||||||income
generation
in order to||reduce cash||need|
||||||||||||and reduce the o erational|deficit.||||
|4.|Prices rise more than||the|predicted|||rise|in admission|||Senior
team
will
modify||admission||and|
||and
membership|rates,||leading|||to a|reduction||in|membership
rates
accordingly.
This
review||||will|
||profits.||||||||||also include the modification
ofcatering
and||||retail|
||||||||||||rices.|||||
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||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|2022|2021|
|||Note|5||5|5|F.|
|Income and endowments||||||||
|Donations
and legacies|||83,073|202,992||286,065|503,234|
|Charitable
activities|||755,739|||758,739|631,467|
|Other trading
activities
(AME)|||348,082|||348,082|327,379|
|Investment
income|||113,797|71,170|21,319|206,286|210,259|
|Total income|||1,303,691|274,162|21,319|1,599,172|1,672,339|
|Expenditure||||||||
|Raising funds||4|57,899|||57,899|81,021|
|Charitab/e
activities||4&5|2,111,102|283,115|21,292|2,415,509|2,192,886|
|Other trading
activities
(AME)||4|411,355|||411,355|285,599|
|Other trading
activities
(Charity)||4|53,572|||53,572|41,502|
|Total expenditure|||2,633,928|283,115|21,292|2,938,335|2,601,008|
|Net gains/(losses)
on investments||8&9|(877,448)|||(877,448)|907,159|
|Net income/(expenditure)|||(2,207,685)|(8,953)|27|(2,216,611)|(21,510)|
|Transfers
between
funds||14||||||
|Actuarial
gains/(losses)
on defined|benefit|||||||
|pension scheme||6|(155,000)|||(155,000)|(126,000)|
|Foreign exchange gains/(losses)|||182,746|||182,746|25,517|
|Net movement
in funds|||(2,179,939)|(8,953)|27|(2,188,865)|(121,993)|
|Reconciliation
offunds||||||||
|Total funds brought
forward|||5,933,418|548,844|15,385,955|21,868,217|21,990,210|
|Total funds canied forward|||3,753,479|539,891|15,385,982|19,679,352|21,868,217|
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|||||||||Group|Charity||Group|Charity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2022||2021|2021|
|||||||Note||6|6||6|6|
|Fixed Assets|||||||||||||
|Tangible assets||||||7||11,253,836|11,234,428||11,385,281|11,366,276|
|Heritage assets||||||7a||25,750|25,750||25,750|25,750|
|Investment
assets|in the||UK|||8||6,278,079|6,213,314||8,039,753|8,045,261|
|Investment
assets|outside the UK|||||9||1,887,602|1,887,602||1,912,846|1,912,846|
|||||||||19,445,267|19,361,094||21,363,630|21,350,133|
|Current Assets|||||||||||||
|Stocks||||||10||35,573|5,576||36,191|9,897|
|Debtors||||||11||237,642|342,508||175,021|233,707|
|Cash at bank and
in||hand||||||164,374|138,600||273,916|203,447|
|||||||||437,589|486,684||485,128|447,051|
|Creditors
-amounts||falbng|||||||||||
|due within one year||||||'l2||(444,504)|(409,425)||(369,541)|(317,967)|
|Net Current Assets||||||||(6,915)|77,258||115,587|129,084|
|Total assets less current|||liabibties|excluding|pension asset|||19,438,352|19,438,352||21,479,217|21,479,217|
|Creditors: Amounts||falling due after more than||||1 year|||||||
|Defined benefit pension scheme asset||||||||241,000|241,000||389,000|389,000|
|Net assets including||pension
asset/(liability)||||||19,679,352|19,679,352||21,868,217|21,868,217|
|The funds ofthe charity|||||||||||||
|Endowment
funds||||||14|||||||
|Endowment
funds
(group and||||chanty)|||11,614,189|||11,614,162|||
|Revaluation
reserve|||(group and charity)||||3,771,793|||3,771,793|||
|||||||||15,385,982|15,385,982||15,385,955|15,385,955|
|Restricted
income funds||||||14||539,891|539,891||548,844|548,844|
|Unrestncted
income|funds||||||||||||
|Unrestricted
income||funds (group||and chanty)|||3,512,479|||5,544.418|||
|Pension reserve
(group|||and charity)||||241,000|||389,000|||
|||||||||3,753,479|3,753,479||5,933,418|5,933,418|
|Total charity funds||||||13||19,679,352|19,679,352||21,868,217|21,868,217|
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||||||Group|Group|
|---|---|---|---|---|---|---|
|||||Note|2022|2021|
||||||5|2|
|Cash used in operations||||20|(1,045,442)|247,552|
|Cash flows from investing
activities|||||||
|Investment
income|||||206,286|210,259|
|Purchases
of investments|||||(367,105)|(5,622,379)|
|Proceeds from sale of investments|||||1,165,027|5,165,966|
|Purchase
net ofdisposals oftangible||fixed assets|||(68,308)|(30,731)|
|Cash provided
by (used in) investing|activities||||935,900|(276,886)|
|Increase
in cash and cash equivalents||during the year|||(109,542)|(29,333)|
|Cash and cash equivalents
at the begining|||ofthe year||273,916|303,249|
|Total cash and cash equivalents
at the||end|ofthe year||164,374|273,916|
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|1.|ACCOUNTING
POLICIES (CONTINUED)|||||||||
|---|---|---|---|---|---|---|---|---|---|
|(f)|Trading stock|||||||||
||Trading stock is stated at the lower ofcost and net realisable
value.|||||||||
|(g)|Tangible assets|||||||||
||All tangible
fixed assets are measured
at cost less accumulated
depreciation,
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|capitalisation||||offixed assets.||||
||The depreciation
rates used are as follows:|||||||||
||Buildings|||||||||
||Motor vehicles|||||||||
||Furniture
and equipment|||||||||
|(h)|Heritage assets|||||||||
||The charity holds heritage assets, which are tangible fixed assets ofhistoncal,
artistic or scientific importance||||that are||held to|||
||advance
preservation
and conservation
objectives ofthe charity|||||||||
||Under previous
accounting
policies these assets were not capitalised
and therefore are not represented||by any figures||||in these|financial||
||There is no reliable cost information
and a conventional
valuation
approach
will lack sufficient
reliability.|||||||||
||Significant costs would be involved
in the reconstruction
or analysis ofpast accounting
records or valuations,||||which|are onerous||compared||
||to the additional
benefit derived
by users ofthe accounts|||||||||
||Futher details on Heritage assets is given
in the Note 7a to these financial statements.
ln 2017a bust|portrait|||of Churchill
was accessioned||||into|
||the hentage
collection (cost of225,000).This will be shown
on the balance sheet as a heditage asset|(current value||||225,750)||||
||The very long expected
lives of the heritage assets, due to their nature, value and need to be protected||and||preserved||means that|||
||depreciation
is not material
and is therefore,
not provided.
In addition
many ofthe artefacts could actually|||rise in value|||as time goes on,|||
||thus making
depreciation
less applicable.|||||||||
|(i)|Realised and unrealised
gains and losses on investment
assets|||||||||
||Realised gains and losses are calculated
by reference to the disposal proceeds less any disposal costs|||||||||
||compared
with the origmal cost or the market value at the last balance sheet date, whichever
is later.|||||||||
||Unrealised
gains and losses are calculated
by comparing
the market value at the beginning
ofthe year|||||||||
||with that at the end ofthe year for assets held at both dates and by comparing
the cost with the market|||||||||
||value at the end ofthe year for assets acquired
during the year and held at the year end.|||||||||
|(j)|Pension costs
The museum
operates 2 pension schemes, a defined
benefit scheme which is now closed to new members|||||||||
||and a defined
contnbution
scheme for new members|||||||||
||The cost ofproviding
pension
and related
benefits
is charged to the SOFA over the employees'
service|||||||||
||hves on the basis ofa constant percentage
ofearnings
which is an estimate ofthe regular cost. Vanations|||||||||
||from regular cost, arising
from periodic actuarial
valuations
are allocated over the expected remaining|||||||||
||service lives ofcurrent employees
on the basis ofa constant percentage of current and estimated
future|||||||||
||earnings.
Any difference
between the charge to the statement
offinancial
activities
and the contributions|||||||||
||payable to the scheme
is shown as an asset or a liability
in the balance sheet.|||||||||
||The assets ofthe defined
contribution
scheme are held separately
from those ofthe charity
The annual|||||||||
||contnbutions
payable are charged
to the SOFA|||||||||
|(k)|Foreign currencies|||||||||
||Assets and liabikties
in foreign currencies are translated
into sterling at the rates ofexchange
ruling at|||||||||
||the balance sheet date. Transactions
in foreign currencies are translated
into sterling at the rate of|||||||||
||exchange
ruling at Ihe date ofthe transaction
Exchange differences
are taken
into the statement
of|||||||||
||financial
activities for the year.|||||||||
|(m)|Financial
instruments|||||||||
||Financial
instruments
are classified and accounted
for, according to the substance
ofthe contractual|arrangement,||||||||
||as either financial assets, financial
liabilities or equity instruments
An equity
instrument
is any contract that evidences|||||||||
||a residual
interest
in the assets ofthe company
after deducting
all of its habilities.|||||||||
|(n)|Funds|||||||||
||The Charity has numerous
restricted,
endowment
and designated
funds
The Charity does not have an||established|||policy to||||
||make transfers
between
funds to or from the designated
fund, instead transfers are made from time to time as the Trustees|||||||||
||consider appropriate.|||||||||
||Each fund is determined
by reference to the anginal
donation
and restnctions
applied at that time. All|funds are shown||||||||
||separately
in the Note to the Accounts
and comprise ofa mixture oftangible
fixed assets, investments,||cash and sundry|||||||
||assets.|||||||||
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|The|major|assumptions|used by|the actuary|the actuary|at|the balance sheet date were|the balance sheet date were|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||Discount rate|||||||5 1'/|1.8%|
|||Retail pnce inflation|||||||33%|3.6%|
|||Salary increase rate|||||||3.9%|4 2s/|
|||Allowance
for|revaluation||of deferred||pensions|ofRPI or 5% ifless|3.3%|3.6%|
|||Allowance
for|revaluation||of deferred||pensions|ofRPI or 2 5'/. ifless|2 5o/|2 5s/s|
|||Allowance
for|pension|in|payment|increases of||RPI or 5%p.a ifless|3 1%|3.1%|
##
||||Assets|at|Proportion|at|Assets at|Proportion|at|
|---|---|---|---|---|---|---|---|---|---|
||||2022||2022||2021|2021||
||||2000's||||8000's|||
|Bonds||||603|45s/||1,208|60%||
|Insured|pensions|||745|55%||805|40%||
|Total|||1,348||||2,013|||
||||||||2022|2021||
||||||||2000's|8000's||
|Fair value of plan assets|||||||1,348|2,013||
|Value of funded||obligations|||||(1,107)|(1,624)||
|Surplus|in the scheme||||||241|389||
|Analysis|ofthe|amount charged to operating|profit|||||||
||||||||2022|2021||
||||||||8000's|2000's||
|Current service||cost|||||0||0|
|Net interest expense|||||||(7)||(7)|
|Total operating||charge/(credit)|||||(7)||(7)|
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|Analysis|ofamount recognised
in statement
of ot|her|comprehensive
income||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||5000's|6000's|
||Asset return less interest income recognised||in the SOFA||(621)|(35)|
||Experience gains/losses
on benefit obligation||||(62)|(186)|
||Effect ofassumptions
changes
on benefit|obligation|||528|95|
||Total operating
(charge) or credit from above||||7|7|
||Total to be recognised
in the SOFA||||(148)|(119)|
|History ofexperience gains and losses|||||2022|2021|
||||||5000's|2000's|
|Difference|between the asset return and the interest|income|||(621)|(35)|
|'/. ofscheme assets|||||46 to/|1 752|
|Experience gains and losses on liabihties (2000's)|||||(62)|(186)|
|'/. ofscheme
liabilities|||||6 So/o|11 5o/|
|Total amount
recognised
in OCI (2000's)|||||528|95|
|'/ ofscheme liabilities|||||47 To/r|5 8r/r|
|The Trustees estimate that the contnbutions
to the pension scheme for the proceeding||||year to be Nil.|||
|Analysis|ofthe change
in the defined
benefit obligation||||2022
6000's|2021
6000's|
||Opening
defined
benefit obligation||||1,624|1,591|
||Current service cost||||||
||Interest cost||||29|20|
||Actuanal
(gains)/losses||||(466)|91|
||Benefits paid
Closing defined benefit obligation||||(80)
1,107|(78)
1,624|
|Analysis|ofthe change
in the fair value of plan assets||||2022
6000's|2021
5000's|
||Opening
fair value of plan assets
Interest income||||2,013
36|2,099
27|
||Asset gain/(losses)||||(621)|(35)|
||Contnbutions||||||
||Benefits paid
Closing fair value of plan assets||||(80)
1,348|(78)
2,013|
|Life expectancy
based on mortality
assumptions|||||||
|Assuming|a retirement
age of65, the life expectancy|in|years are as follows||2022|2021|
||||||Years|Years|
||Fora male aged 65 now
At 65 for a male member aged 45 now
For a female aged 65 now||||17.3
21.7
179|17.3
21.7
17.9|
||At 65 for a female member aged 45 now||||22.4|22M|
||Duration
in years||||10|11|
##
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|FIXEDASSETS - TANGIBLE ASSETS
Charity|||||
|---|---|---|---|---|
||Freehold|Motor|Equipment|Total|
||Property|vehicles|&fixtures||
||6|6|6|6|
|COSTNALUATION|||||
|At 1 January 2022|12,807,926|15,399|1,182,550|14,005,875|
|Additions|||82,785|82,785|
|Disposais
At 31stDecember 2022|12,807,926|15,399|(14,688)
1,250,647|(14,688)
14,073,972|
|DEPRECIATION|||||
|At 1 January 2022|1,543,680|15,074|1,080,845|2,639,599|
|Disposals
Charge for the year
At 31stDecember 2022|171,520
1,715,200|325
15,399|(6, 114)
34,215
1,108,946|(6, 114)
206,060
2,839,545|
|NET BOOK VALUE|||||
|At 3'Ist December 2022|11,092,726||141,701|11,234,427|
|At 31stDecember 2021|11,264,246|325|101,705|11,366,276|
##
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##
|FIXED ASSETS - TANGIBLE ASSETS(continued)|||||
|---|---|---|---|---|
|Group|||||
||Freehold|Motor|Furniture
8,|Total|
||Property|vehicles|equipment||
||8|8|8||
|COST/VALUATION|||||
|At 1 January 2022
Additions|12,807,926|15,399|1,242,006
90,314|14,065,331
90,314|
|Disposals
At 31stDecember 2022|12,807,926|15,399|(22,006)
1,310,314|(22,006)
14,133,639|
|DEPRECIATION|||||
|At 1 January 2022|1,543,680|15,074|1,121,296|2,680,050|
|Disposals
Charge for the year
At 31st December 2022|171,520
1,715,200|325
15,399|(12,652)
40,561
1,149,205|(12,652)
212,406
2,879,804|
|NET BOOK VALUE|||||
|At 31st December 2022|11,092,726|(0)|161,109|11,253,835|
|At 31st December 2021|11,264,246|325|120,710|11,385,281|
##
|FIXEDASSETS - HERITAGE ASSETS|2022|2021|
|---|---|---|
||Heritage|Heritage|
||Assets|Assets|
||5||
|COSTNALUATION|||
|Group|25,750|25,750|
|Additions|||
|At 31st December|25,750|25,750|
|DEPRECIATION|||
|Group|||
|Charge for the year|||
|At 31st December|||
|NET BOOK VALUE|||
|At 31stDecember|25,750|25,750|
##
##
##
|FIXEDA|SSET INVESTMENTS
IN TH|E UK||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2022|2021|2021|
||||||Notes|8|8|8|6|
|Charity||||||||||
||Quoted investments|||||||||
||Brought forward|||||7,789,753||7,474,635||
||Additions|||||||4,858,232||
||Disposals|||||(695,000)||(4,746,095)||
||Net gains/(losses)|||||(816,674)||202,981||
||Market value 31st December||||||6,278,079||7,789,753|
||Unquoted
investments|||||||||
||Brought forward|||||5,508||(29,272)||
||Net gains/(losses)|||||(70,273)||34,780||
||Value 31st December||||||(64,765)||5,508|
||Cash held for investment|purposes|||||||250,000|
||Total UK investments||||||6,213,314||8,045,261|
||Historical cost ofthe quoted|investments||at 31st December 2022 was 86,471,273|||(2021 57,110,139)|||
||The historical cost of the unquoted||investment||is not known.|||||
|Group||||||2022|2022|2021|2021|
||Quoted investments|||||8|8|8|8|
||Brought forward|||||7,789,753||7,474,635||
||Additions|||||||4,858,232||
||Disposals|||||(695,000)||(4,746,095)||
||Net gains/(losses)|||||(816,674)||202,981||
||Market value 31st December||||||6,278,079||7,789,753|
||Cash held for investment|purposes|||||||250,000|
||Investment
Properties|||||||||
||Total UK investments||||||6,278,079||8,039,753|
##
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##
|9.|FIXED|ASSET INVESTMENTS OUTSIDE THE UK|ASSET INVESTMENTS OUTSIDE THE UK|||||
|---|---|---|---|---|---|---|---|
||Charity|and Group||2022|2022|2021|2021|
|||Quoted investments||8|8|6|8|
|||Brought forward||1,837,920||1,137,269||
|||Additions||367,105||764,147||
|||Disposals||(470,027)||(419,871)||
|||Net gains/(losses)||(69,388)||331,901||
|||Foreign exchange
gain/(loss)||178,224||24,474||
|||Market value 31st December|||1,843,834||1,837,921|
|||Cash held for investment
purposes|||43,768||74,925|
|||Total investments
held outside the UK|||1,887,602||1,912,846|
|||Historical cost ofthe quoted|investments|at 31st December 2022 was 21,289,2I9,|(2021 81,873,991)|||
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||8|8|
||Charity|||||
||Goods for resale|||5,576|9,897|
||Group|||||
||Goods for resale|||35,573|36,191|
|11.|DEBTORS|||||
|||||2022|2021|
|||||6|8|
||Charity|||||
||Trade debtors|||16,076|9,419|
||Amounts|due|from Group undertakings|116,105|68,743|
||VAT|||32,422|31,559|
||Prepayments||and other debtors|177,905|123,986|
|||||342,508|233,707|
||Group|||||
||Trade debtors|||16,076|9,429|
||VAT|||40,338|32,382|
||Prepayments||and other debtors|181,228|133,210|
|||||237,642|175,021|
##
##
##
|12.|CREDIT|ORS: AMOUNTS|FA|LLIN|G DU|E WITHIN ON|E YEAR|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022||2021|
||||||||||||6|
||Charity|||||||||||
||Trade creditors||||||||171,656||193,844|
||Taxation|and soaal security|||||||18,599||30,118|
||Accruals|and sundry
creditors|||||||219,170||94,005|
||||||||||409,425||317,967|
||Group|||||||||||
||Trade creditors||||||||176,165||229,685|
||Taxation|and social secunty|||||||35,150||42,735|
||Pension|control|||||||472||316|
||Accruals|and sundry
creditors|||||||232,717||96,805|
||||||||||444,504||369,541|
|13.|ANALYSIS OF NET ASSETS|||BETWEEN FUNDS||||||||
||||||||Tangible||Net current|Pension||
||||||||fixed assets|Investments|assets|scheme|Tote I|
||||||||8|6|6|6||
||Charity|||||||||||
|||Endowments||||||||||
|||Map fund||||||333,652|||333,652|
|||Permanent
fund||||||1,349,794|||1,349,794|
|||lan McCallum|fund|||||36,264|||36,264|
|||Property
fund|||||11,212,153|99,089|||11,311,242|
|||Education
endowment|||fund|||525,974|||525,974|
|||Field conservation||fund||||400,013|||400,013|
|||Exhibition
fund||||||402,579|||402,579|
|||JJM Main fund||||||246,493|||246,493|
|||JJM Pratt Will|fund|||||779,971|||779,971|
||||||||11,212,153|4,173,829|||15,385,982|
|||Restricted funds||||||||||
|||Map fund|||||||335||335|
|||lan McCallum|fund||||||120||120|
|||Education
fund|||||||98||98|
|||Field Conservation||fund|||||169||169|
|||Exhibition
fund|||||||333||333|
|||JJM Main fund|||||||319||319|
|||JJM Pratt Will|fund||||||285||285|
|||School House|fund||||||62||62|
|||Capital Campaign|||||||29,752||29,752|
|||Top Floor Flat|||||||1,187||1,187|
|||Polk Art Gallery|||||||||0|
|||Lincoln Bust|||||||||0|
|||Education
programme|||(Burberry)||||814||814|
|||UK Appeal|||||||||0|
|||Thanksgiving|||||||||4|
|||Textile Society|||||||||0|
|||Web Site|||||||||0|
|||Roof repairs|||||||0||0|
|||Claverton
Theatre club|||||||2,499||(2,499)|
|||Lecture series|fund|(Claridge)|||||23,753||23,753|
|||Childrens
play|area||||||||0|
|||Period rooms|||||||234,215||234,215|
|||Gardens
Gugia|&woodlands|||project|||13,733||13,733|
|||Canestoga
Wagon||appeal|||||9,408||9,408|
|||Gardens
endowment||(SLIFKA)|||||170,960||170,960|
|||Audience
project|||||||872||872|
|||Parasols|||||||||0|
|||Damaged
wall|||||||4,614||4,614|
|||Hoopes Wells|||||||24,291||24,291|
|||Cafe project|||||||2,982||2,982|
|||Retaining
Wall|||||||||0|
|||Churchill
Lecture sense|||(Betty Suchar)||||24,080||24,080|
||||||||0||539,891|0|539,891|
|||Unrestncted
funds|||||67,433|3,927,087|(482,041)|241,000|3,753,479|
|||Total funds|||||11,279,586|8,100,916|57,850|241,000|19,679,352|
##
##
##
||||||||Tangible||Net current|Net current|Pension||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||fixed assets|Investments|assets||scheme|Total|
||||||||6|6|6||6|6|
|Group|||||||||||||
||Endowments||||||||||||
||Map fund|||||||333,652||||333,652|
||Permanent
fund|||||||1,349,794||||1,349,794|
||lan McCallum|fund||||||36,264||||36,264|
||Property
fund||||||11,212,153|99,089||||11,311,242|
||Education
endowment||||fund|||525,974||||525,974|
||Field conservation||fund|||||400,013||||400,013|
||Exhibition
fund|||||||402,579||||402,579|
||JJM Main fund|||||||246,493||||246,493|
||JJM Prad Will|fund||||||779,971||||779,971|
||||||||11,212,153|4,173,829||||15,385,982|
||Restricted funds||||||||||||
||Map fund|||||||||335||335|
||lan McCagum|fund||||||||120||120|
||Education
fund|||||||||98||98|
||Field Conservation|||fund||||||169||169|
||Exhibition
fund|||||||||333||333|
||JJM Main fund|||||||||319||319|
||JJM Pratt Will|fund||||||||285||285|
||School House|fund||||||||62||62|
||Capital Campaign||||||||29,752|||29,752|
||Top Floor Flat||||||||1,187|||1,187|
||Folk Art Gallery|||||||||||0|
||Lincoln Bust|||||||||||0|
||Education
programme|||||||||814||814|
||UK Appeal|||||||||||0|
||Thanksgiving|||||||||||4|
||Textile Society|||||||||||0|
||Web Site|||||||||||0|
||Roof repairs|||||||||0||0|
||Ciaverton Theatre club||||||||2,499|||(2,499)|
||Lecture sense|fund||(Claridge)|||||23,753|||23,753|
||Childrens
play|area||||||||||0|
||Penod rooms||||||||234,215|||234,215|
||Garden
Gugia|&woodlands||||project|||13,733|||13,733|
||Canestoga
Wagon|||appeal|||||9,408|||9,408|
||Gardens
endowment|||(SLIFKA)|||||170,960|||170,960|
||Audience
project|||||||||872||872|
||Parasols|||||||||||0|
||Damaged
wall||||||||4,614|||4,614|
||Hoopes Wells||||||||24,291|||24,291|
||Cafe project||||||||2,982|||2,982|
||Retaining
Wall|||||||||||0|
||Churchill
Lecture series||||(Betty Suchar)||||24,080|||24,080|
||||||||0|0|539,891||0|539,891|
||Unrestncted
funds||||||67,433|3,991,852|(546,806)||241,000|3,753,479|
||Total funds||||||11,279,586|8,165,681|(6,915)||241,000|19,679,352|
##
##
##
##
##
##
##
##
##
##
##
|ary's
principa
SOFA.|l
|activity
is|to o|perate t|he retail shops at the Museum.
A|ll activities have been consolidated
on|a line by line|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||6|f|
|Turnover||||||348,082|318,833|
|Cost ofsales||||||(386,127)|(266,534)|
|||||||(38,045)|52,299|
|Administrative||expenses|and|finance|costs|(32,228)|(26,065)|
|JRS scheme||||||0|8,546|
|(Loss)/Profit|on|ordinary|activities before taxation|||(70,273)|34,780|
|Tax on loss on||ordinary|actiwties|||||
|(l.oss)/Profit|on|ordinary|activities after taxation|||(70,273)|34,780|
|||||||(70,273)|34,780|
|The aggregate||ofthe assets,||hah ilities and funds was||||
|Assets||||||86,419|125,825|
|Liabilities, share capital|||and|retained|earnings|(151,184)|(120,317)|
|Fuiids||||||(64,765)|5,508|
##
##
##
##
|||||Group|Group|
|---|---|---|---|---|---|
|||||2022
6|2021f|
|Net movement
in funds||||(2,188,865)|(121,993)|
|Add back depremation||||212,406|232,306|
|Deduct investment
income shown||in investing|activites|(206,286)|(210,259)|
|Decrease/(Increase)
in stock||||618|(762)|
|Decrease/(Increase)
in debtors||||(62,621)|90,323|
|Increase/(Decrease)
in creditors||||74,963|157,073|
|Investments
non cash ad/ustment||||967,680|(18,224)|
|Decrease/(Increase)
in defined|benefit pension||scheme|148,000|119,000|
|Add back loss on disposal ofasset||||8,663|88|
|Net cash used
in operating
activities||||(1,045,442)|247,552|
##
##
##
##
||||Unrestricted|Restricted|Endowment|Endowment|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds||2021|
||||F.|6|||8|
|Income and endowments||||||||
|Donations
and legacies|||9,103|494,131|||503,234|
|Chantable
activities|||631,467||||631,467|
|Other trading
activities|||327,379||||327,379|
|Investments|||115,857|68,427|25,975||210,259|
|Total income|||1,083,806|562,558|25,975||1,672,339|
|Expenditure||||||||
|Raising funds|||81,021||||81,021|
|Charitable
activities|||1,640,288|526,641|25,957||2,192,886|
|Other trading
activities|||285,599||||285,599|
|Other|||41,502||||41,502|
|Total expenditure|||2,048,410|526,641|25,957||2,601,008|
|Net gains/(losses)
on investments|||907,159||||907,159|
|Net income/(expenditure)|||(57,445)|35,917||18|(21,510)|
|Transfers
between
funds||||||||
|Actuanal
gains/(losses)|on defined|benefit||||||
|pension scheme|||(126,000)||||(126,000)|
|Foreign exchange gains/(losses)|||25,517||||25,517|
|Net movement
in funds|||(157,928)|35,917||18|(121,993)|
|Reconciliation
offunds||||||||
|Total funds brought
forward|||6,091,346|512,927|15,385,937||21,990,210|
|Total funds carried forward|||5,933,418|548,844|15,385,955||21,868,217|
##
##
##
|FOR|THE YEAR ENDED 31STDEC|THE YEAR ENDED 31STDEC|THE YEAR ENDED 31STDEC|EM|BER 2022|BER 2022|||||
|---|---|---|---|---|---|---|---|---|---|---|
|22.|FINANCIAL
PERFORMANCE|||OF|THE CHARITY||||||
||The consolidated
statement||of|financial activities||includes|the results|ofthe charity's|wholly owned subsidiary|which operates the cafe|
||and retail outlets at the Museum. The summary|||||financial|performance|ofthe chanty|alone is:||
||||||||||Total|Total|
||||||||||2022|2021|
||||||||||6|F.|
||Income and endowments||||||||||
||Donations
and legacies||||||||286,065|503,234|
||Charitable
actwities||||||||758,739|631,467|
||Other trading
activities||||||||7,000|7,000|
||Investments||||||||206,286|210,259|
||Total income||||||||1,258,090|1,351,960|
||Expenditure||||||||||
||Raising funds||||||||57,899|81,021|
||Chantable
activities||||||||2,415,509|2,192,886|
||Other tradmg
activities||||||||||
||Other||||||||53,572|41,502|
||Total expenditure||||||||2,526,980|2,315,409|
||Net gains/(losses)
on investments||||||||(947,721)|941,939|
||Net income/(expenditure)||||||||(2,216,611)|(21,510)|
||Transfers
between
funds||||||||||
||Actuarial
gains/(losses)|on defined|||benefit||||||
||pension scheme||||||||(155,000)|(126,000)|
||Foreign exchange gains/(losses)||||||||182,746|25,517|
||Net movement
in funds||||||||(2,188,865)|(121,993)|
||Reconciliation
offunds||||||||||
||Total funds
brought
forward||||||||21,868,217|21,990,210|
||Total funds carried forward||||||||19,679,352|21,868,217|
##
##
##
||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||6|6|
|INCOME|||||||||||
|Memberships|||||||||90,237|26,877|
|Admissions|||||||||243,605|284,861|
|Christmas
speaal|income||||||||281,466|258,212|
|Other income|||||||||143,431|61,517|
|AM Enterprises
Ltd|||||||||348,082|327,379|
||||||||||1,106,821|958,846|
|DEPARTMENTAL||EXPENSES|||||||||
|Property|||||||||605,994|507,715|
|Management|||||||||242,353|354,011|
|Visitor Experience|||||||||985,431|586,023|
|Curatorial|||||||||260,850|170,155|
|JJM expenses|||||||||13,514|17,747|
|Finance|||||||||85,703|91,207|
|Fundraising|||||||||1,775|170|
|Garden|||||||||113,926|148,048|
|Friends 8 Members|||||||||||
|Restricted
expenditure|||||||||217,434|440,333|
|AM Enterprises
Ltd||expenditure|||||(including|recharge)|418,355|292,599|
||||||||||2,945,335|2,608,008|
|OPERATING SURPLUS/(DEFICIT)|||||||||(1,838,514)|(1,649,162)|
|OTHER INCOME/EXPENDITURE|||||||||||
|Investment
income||UK|||||||50,855|70,446|
|Investment
income||UK||restricted|||||92,489|94,402|
|Investment
income||US|||||||62,942|45,411|
|Donations
&YEA|||||||||278,065|487,917|
|Revaluation
of investment|||||property||||||
|Investment
gain/(loss)|||||||||(877,448)|907,159|
|Foreign exchange|gain/(loss)||||||||182,746|25,517|
|Facitilies income from||||HH|||||7,000|7,000|
|Grants (Job retention|||scheme|||in|2021)||8,000|15,317|
||||||||||(195,351)|1,653,169|
|SURPLUS/(DEFICIT)|||FOR||THE||YEAR||(2,033,865)|4,007|
##
##
|FOR THE YEAR EN|DED 31|STDECEMBER 2022|||
|---|---|---|---|---|
||||2022|2021|
||||8|8|
|PROPERTY|||||
|Staff costs|||115,912|65,144|
|Office costs and travel|||757|507|
|Contract maintenance|||11,555|13,936|
|Council tax &water|||14,156|11,956|
|Telephone
& internet|||6,658|5,715|
|Recychng|||4,501|2,878|
|Electricity & oil|||111,533|54,411|
|Insurance|||53,530|42,222|
|Building
mainteance|||62,735|44,805|
|Property damage|||||
|Vehicle costs|||4,348|1,071|
|Cleamng
&pest control|||6,786|11,424|
|Investment
property|||4,844|9,911|
|Security &fire|||584|14,359|
|Equipment
and leasing|||1,946|2,865|
|Estates training|||90||
|Depreciation
and loss on disposal|||206,059|226,511|
||||605,994|507,715|
|MANAGEMENT|||||
|Staff costs tinct redundancy)|||65,896|162,377|
|Oflice costs &carriage|||13,323|10,223|
|Travel|||||
|Pension expense
tincluding||FRS17)|33,429|67,081|
|Recruitment
and HR|advice||6,722|40,185|
|Training|||6,053|6,168|
|Uniforms|||1,870||
|Professional fees|||31,432|9,133|
|Investment
broker fees|||21,615|6,862|
|IT and internet|||10,622|13,751|
|ITservices license &equipment|||18,680||
|Management
Board|costs||285||
|Staff welfare,
health|and assurance||11,866|22,351|
|Office equipment|||440|907|
|Public relations|||640||
|Subscriptions|||268|454|
|Directors travel|||6,310|2,238|
|Directors development|||12,902|12,281|
||||242,353|354,011|
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||6|E|
|VISITOR EXPERIENCE|||||AND DIRECTOR OF DEVELOPMENT|||
|Staff costs||||||346,670|233,081|
|Office costs||||||2,524|537|
|Travel and|training|||||1,198|2,391|
|Interactive|exhibition|||maintenance||95||
|Marketing||||||65,210|57,779|
|Volunteers|travel|||||17,600|834|
|Volunteers|expenses|||||4,313|13,597|
|Print materials|||||||31|
|Website||||||||
|Public relations||||||10|820|
|Events and|4th|july||||501,174|268,553|
|Workshops||||||||
|Membership|costs|||||1,376|1,047|
|Compbmentary||tickets||||5,850|3,806|
|Learning
and Education||||||2,652|1,122|
|Visitor experience|||other,||signage|36,759|2,425|
|||||||985,431|586,023|
|CURATORIAL||AND DIRECTOR OF COLLECTIONS||||||
|Staff costs||||||162,363|118,465|
|Office expenses||||||85|289|
|Travel &clothing||||||4,955|601|
|Exhibitions||||||77,347|34,068|
|Exhibition
improvements||||||3,092|1,181|
|Maps and Materials||||||1,524||
|Conservation||||||1,524|3,020|
|Collections|management||||and projects|2,891|1,570|
|Collection
photography||||||42||
|Christmas
at Claverton||||||1,155|2,101|
|I ibrary||||||551|561|
|Journal|||||||8,299|
|Publications|stock|||||4,321||
|Freelance design||||||||
|Grants||||||1,000||
|||||||260,850|170,155|
|JJM||||||||
|Office costs||||||||
|Travel|||||||51|
|Electncity||||||216|3,716|
|Rent||||||13,000|13,000|
|Rates||||||||
|Telephone||||||||
|Mainteance||||||||
|Fire &secunty||||||298|920|
|Insurance||||||||
|Professional|fees||||||60|
|||||||13,514|17,747|
##
##
##
|FOR THE YEAR ENDED 31STDECEMBER 2022|||
|---|---|---|
||2022
6|2021f|
|FINANCE|||
|Staff costs|55,430|47,783|
|Office costs|||
|Travel|||
|Bank charges|6,117|8,659|
|Finance AMIB projects|7||
|Finance profesional fees|18,000|24,990|
|Ledgercosts|1,525|5,811|
|Payroll costs|4,624|3,964|
||85,703|91,207|
|FUNDRAISING|||
|Staff costs and travel|||
|Office costs||20|
|Fundraising
development|1,775|150|
||1,775|170|
|GARDEN|||
|Staff costs|94,411|97,870|
|Office costs|167|215|
|Travel|0|105|
|Equipment
&repairs|460|4,018|
|Grounds
maintenance|6,234|3,489|
|Development|975|1,846|
|Infrastructure|1515|6,897|
|Treework|5,866|31,123|
|Plants|3,064|1,735|
|Health
& safety|1189|750|
|Volunteers|45||
||113,926|148,048|