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2021-03-31-accounts

Trustees P C Taylor
AD Jones
F Cook
W E Gosney
J Mitchell
Lady WA C Normington CBE (Appointed 26 May 2020)
S Howard
PA Martin
V R Clarke
Secretary FCook
Charity number 1108817
Company number 05370758
Registered office The Old Courthouse
St. Peters Road
Petersfield
Hampshire
United
Kingdom
GU32 3HX
Auditor Azets Audit Services
Athenia
House
10-14Andover Road
Winchester
Hampshire
United
Kingdom
SO23 7BS
Investment advisors Charles Stanley &Co Limited
2 Westover Road
Bournemouth
BH1 2BY

Page
Trustees'
report
1-5
Independent
auditor's
report 6-8
Statement
offinancial
activities
Balance sheet 10-11
Statement
ofcash flows
12
Notes to the financial statements 13-31

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2020 2020 2020
Notes f
Income from:
Donations
and legacies
134,969 785,019 919,988 14,803 768,123 782,926
Charitable
activities
4,736 4,736 19,125 10,715 29,840
Investments 22,136 3,303 25,439 39,839 1,495 41,334
Total income 161,841 788,322 950,163 73,767 780,333 854,100
Ex enditure on:
Raisincafunds
Investment
management
fees
9,000 9,000
Charitable
activities
Museum
activities
200,579 107,244 307,823 177,991 128,848 306,839
Total resources
expended 209,579 107,244 316,823 177,991 128,848 306,839
Net gains/(losses) on
investments 63,194 61 63,255 (83,046) (580) (82,466)
Net incoming
resources before
transfers 15,456 681,139 696,595 (187,270) 652,065 464,795
Gross transfers
between
funds
(9,213) 9,213
Net movement in funds 15,456 681,139 696,595 (196,483) 661,278 464,795
Fund balances at 1
April 2020 1,337,091 2,422,005 3,759,096 1,533,574 1,760,727 3,294,301
Fund balances at 31
March 2021 1,352,547 3,103,144 4,455,691 1,337,091 2,422,005 3,759,096

2021 2020
Notes E
Fixed assets
Tangible assets 12 3,097,177 2,067,258
Heritage assets 13 272,002 272,002
Investments 14 644,663 572,062
4,013,842 2,911,322
Current assets
Stocks 16 4,216 4,216
Debtors 17 379,882 271,892
Cash at bank and in hand 196,986 601,619
581,084 877,727
Creditors: amounts
one year
falling due within 18 (91,196) 29,953
Net current assets 489,888 847,774
Total assets less current liabilities 4,503,730 3,759,096
Creditors: amounts falling due after
more than one year 19 (48,039)
Net assets 4,455,691 3,759,096
Income funds
Restricted funds 22 3,103,144 2,422,005
Unrestricted
funds
23 1,352,547 1,337,091
4,455,691 3,759,096

2021 2020
Notes
Cash flows from operating activities
Cash generated
from operations
573,678 256,328
Investing activities
Purchase oftangible
fixed assets
(1,035,404) (1,260,776)
Proceeds on disposal oftangible fixed
assets 3,600
Purchase of heritage assets (2,790)
Net transfer of Charles Stanley cash account to
bank 3,701
Purchase ofother investments (145,526)
Proceeds on disposal ofother investments 320,479
Investment income received in bank 3,392 41,334
Net cash used in investing activities (1,028,311) (1,043,679)
Financing activities
New bank loans taken out 50,000
Net cash generated
from/(used
in)
financing activities 50,000
Net decrease
in cash and
cash equivalents (404,633) (787,351)
Cash and cash equivalents at beginning ofyear 601,619 1,388,970
Cash and cash equivalents at end of year 196,986 601,619

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
F F F
Donations and gifts 4,423 9,804 14,227 7,881 2,065 9,946
Legacies receivable 5,000 5,000
Grants 128,715 775,215 903,930 5,113 761,058 766,171
Membership fees 1,831 1,831 1,809 1,809
134,969 785,019 919,988 14,803 768,123 782,926

Shop income Shop income Services Clubs Name a brick Talks Total Total
provided 2021 2020
2021 2021 2021 2021 2021
K
Sales
within
charitable
activities 76 60 1,267 795 2,538 4,736 29,840
This year all charitable income was unrestricted.
For the year ended 31 March 2020
Fundraising Shop income Services Total
provided 2020
F
Sales within charitable activities 20,898 2,287 6,655 29,840
Analysis by fund
Unrestricted funds 10,183 2,287 6,655 19,125
Restricted funds 10,715 10,715
20,898 2,287 6,655 29,840

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021
F
2021 2021f 2020
E
2020
F
2020
F
Income from listed
investments 22,047 3,303 25,350 35,310 1,495 36,805
Deposit account interest 89 89 4,529 4,529
22,136 3,303 25,439 39,839 1,495 41,334

Museum Museum
activities activities
2021 2020
f f
Staff costs 154,301 128,178
Depreciation and impairment 5,485 5,007
Rates and utilities 17,620 6,752
Insurance 8,793 6,481
Telephone
and internet
2,479 2,050
Advertising 1,831 4,647
Rent 17,904 25,815
Office costs 13,293 4,094
Repairs and maintenance 701 565
Travel 8 subsistence 359 517
Subscriptions 880 390
Sundry 3,119 340
Training 1,355 1,440
Project costs 40,826 71,144
Other charitable
expenditure
3,198 17,290
272,144 274,710
Share ofsupport costs (see note 8) 3,890 10,157
Share ofgovernance costs (see note 8) 31,789 21,972
307,823 306,839
Analysis
by
fund
Unrestricted funds 200,579 177,991
Restricted funds 107,244 128,848
307,823 306,839

Support co sts
Support Governance 2021 Support Governance 2020
costs costsf costs costs
E
E
Investment management 8,692 8,692
Finance costs 3,890 3,890 1,465 1,465
Accountancy fees 22,518 22,518 21,972 21,972
Professional fees 9,271 9,271
3,890 31,789 35,679 10,157 21,972 32,129
Analysed between
Charitable activities 3,890 31,789 35,679 10,157 21,972 32,129

2021 2020
Number Number
Employment
costs
2021 2020
E
Wages and salaries 142,147 123,904
Social security costs 9,193 1,571
Other pension costs 2,961 2,703
154,301 128,178

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021f 2020
F
2020 2020
Revaluation of
investments 67,297 61 67,358 (76,892) 581 (76,311)
Gain/(loss) on sale of
investments (4,103) (4,103) (6,154) (6,154)
63,194 61 63,255 (83,046) 581 (82,465)

Tangible fix ed asset s
Freehold
land
Plant and Total
and buildings equipment
Cost
At 1 April 2020 2,055,935 43,370 2,099,305
Additions 794,024 241,380 1,035,404
At 31 March 2021 2,849,959 284,750 3,134,709
Depreciation and impairment
At 1 April 2020 32,047 32,047
Depreciation charged in the year 5,485 5,485
At 31 March 2021 37,532 37,532
Carrying
amount
At 31 March 2021 2,849,959 247,218 3,097,177
At 31 March 2020 2,055,935 11,323 2,067,258

Heritage assets
Restricted Unrestricted Total
F E
At 1 April 2020 and at 31 March 2021 161,752 110,250 272,002

Fixed as set invest ments
Listed
investm
en'
Cash Totalf
Cost or valuation
At 1 April 2020 572,062 572,062
Opening capital and income fund transferreingd 144,299 144,299
Additions 235,738 (235,738)
Valuation changes 67,358 67,358
Surplus/ (Loss) on disposal (4,103) (4,103)
Transfer to general funds in year (148,000) (148,000)
Disposals (291,910) 291,910
Dividend income 22,047 22,047
Investment
management
fees (9,000) (9,000)
At 31 March 2021 579,145 65,518 644,663
Carrying amount
At 31 March 2021 579,145 65,518 644,663
At 31 March 2020 572,061 572,061

Financial instruments 2021 2020
F
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 579,145 572,061

16 Stocks
2021 2020
F
Stocks 4,216 4,216
17 Debtors
Amounts falling due within one year: 2021 2020f
Other debtors 238,202 264,920
Prepayments and accrued income 141,680 6,972
379,882 271,892
18 Creditors: amounts falling due within one year
2021 2020
Notes F
Bank loans 20 1,961
Other taxation and social security 3,283 8,051
Trade creditors 45,719 2,661
Other creditors 795 527
Accruals and deferred income 39,438 18,714
91,196 29,953
19 Creditors: amounts falling due after more than one year
2021 2020
Notes
Bank loans 20 48,039
20 Loans and overdrafts
2021 2020
Bank loans 50,000
Payable
within
one year 1,961
Payable after one year 48,039

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N
C
O6I
I6
C
O)
N
I6
N
'O
C
LI
g
C
Co
N
I6
0
I-
~
6)C
CL
Vl
CO
~
0
a
N
C6
O
C
C6
U
~0
+
6I
I6
Co

24 Analysis
of net assets
between
funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2020 2020 2020
F E F
Fund balances at 31
March 2021 are
represented
by:
Tangible assets 294,690 2,802,487 3,097,177 273,860 1,793,398 2,067,258
Heritage assets 161,752 110,250 272,002 161,752 110,250 272,002
Investments 599,354 45,309 644,663 526,752 45,309 572,061
Current assets/
(liabilities) 344,790 145,098 489,888 374,727 473,048 847,775
Long term liabilities (48,039) (48,039)
1,352,547 3,103,144 4,455,691 1,337,091 2,422,005 3,759,096

2021 2020
Within one year 3,805
March 2021 (2020 - f March 2021 (2020 - f 25,815).
27 Capital commitments 2021 2020
E
At 31 March 2021 the charity had capital commitments as follows:
Contracted for but not provided
in the financial statements:
Acquisition of property, plant and equipment 143,521 1,964,008

all or part ofthe grant paid to d ate.
Petersfield
Town
Council
has
been granted a second charge over the freehold property at Petersfield
Museum as in the event ofa breach of the conditions ofthe grant, the council may require
repayment
of all
or part ofthe grant paid to date.
Cash generated
from operations
2021f 2020f
Surplus for the year 696,595 464,796
Adjustments
for:
Investment
income recognised
in statement offinancial activities (25,439) (41,334)
Loss on disposal of investments 4,103
Fair value gains and losses on investments (67,358) 82,466
Depreciation
and impairment
oftangible
fixed assets 5,485 5,007
Investment
management
fee
9,000
Movements
in working
capital:
(Increase)
in stocks
(50)
(Increase)
in debtors
(107,990) (260,827)
Increase
in creditors
59,282 6,271
Cash generated
from operations
573,678 256,328

32 Analysis ofchanges
in net funds
Analysis ofchanges
in net funds
At 1 April 2020 Cash flowsAt 31 March 2021
f F
Cash at bank and in hand 601,619 (404,633) 196,986
Loans falling due within one year (1,961) (1,961)
Loans falling due after more than one year (48,039) (48,039)
601,619 (454,633) 146,986