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|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<br>Kingdom|||||
||||GU32 3HX|||||
|Auditor|||Azets Audit Services|||||
||||Athenia<br>House|||||
||||10-14Andover|Road||||
||||Winchester|||||
||||Hampshire|||||
||||United<br>Kingdom|||||
||||SO23 7BS|||||
|Investment||advisors|Charles Stanley|&Co|Limited|||
||||2 Westover Road|||||
||||Bournemouth|||||
||||BH1 2BY|||||





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





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|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2021|2021||2020|2020|2020|
||||Notes|f||||||
|Income from:||||||||||
|Donations<br>and legacies||||134,969|785,019|919,988|14,803|768,123|782,926|
|Charitable<br>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<br>fees||||9,000||9,000||||
|Charitable<br>activities||||||||||
|Museum<br>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<br>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|





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## 

## 

||||||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<br>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<br>funds||||23||1,352,547||1,337,091|
|||||||4,455,691||3,759,096|





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## 

|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Notes|||
|Cash flows from operating||activities||||||
|Cash generated<br>from operations||||||573,678|256,328|
|Investing|activities|||||||
|Purchase|oftangible<br>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<br>from/(used||in)|||||
|financing|activities|||||50,000||
|Net decrease<br>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|





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||||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|





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||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||funds|funds||funds|funds||
||2021<br>F|2021|2021f|2020<br>E|2020<br>F|2020<br>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|



## 



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## 

||||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<br>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<br>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<br>by|fund||||
|Unrestricted|funds||200,579|177,991|
|Restricted funds|||107,244|128,848|
||||307,823|306,839|





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|Support|co|sts|||||||
|---|---|---|---|---|---|---|---|---|
||||Support|Governance|2021|Support|Governance|2020|
||||costs|costsf||costs|costs<br>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|



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||2021|2020|
|---|---|---|
||Number|Number|
|Employment<br>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|





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|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2021|2021|2021f|2020<br>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<br>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<br>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|





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|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<br>investm<br>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<br>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|





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## 

|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<br>within||one year|||1,961||
||Payable after one year|||||48,039||





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## 

## 

|24|Analysis<br>of net assets|between<br>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<br>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<br>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<br>Town<br>Council<br>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<br>repayment||of all|
|or part ofthe grant paid to date.|||||||||||
|Cash generated<br>from operations||||||||2021f||2020f|
|Surplus for the year||||||||696,595|464,796||
|Adjustments<br>for:|||||||||||
|Investment<br>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<br>and impairment<br>oftangible|||fixed assets|||||5,485||5,007|
|Investment<br>management<br>fee||||||||9,000|||
|Movements<br>in working<br>capital:|||||||||||
|(Increase)<br>in stocks||||||||||(50)|
|(Increase)<br>in debtors||||||||(107,990)|(260,827)||
|Increase<br>in creditors||||||||59,282||6,271|
|Cash generated<br>from operations||||||||573,678|256,328||





## 

|32|Analysis ofchanges<br>in net funds|Analysis ofchanges<br>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|