Company registration number: 05408088 Charity registration number: 1110447
## Braintree District Museum Trust
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 March 2023
Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB
## **Braintree District Museum Trust**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 8|
|Statement of Responsibilities|9|
|Independent Auditors' Report|10 to 13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17 to 36|
## **Braintree District Museum Trust**
## **Reference and Administrative Details**
|**Chairman**|D Wisbey|
|---|---|
|**Trustees**|J A Harrison|
||I Hutton-Jamieson|
||D C Lindsay|
||K L Pavid|
||H T Price|
||D Wisbey|
|**Senior Management / Leadership**|R N Rose|
|**Team**||
|**Registered Office**|C/o Holmes & Hills Solicitors|
||Bocking End|
||Braintree|
||Essex|
||CM7 9AJ|
||The charity is incorporated in England.|
|**Company Registration Number**|05408088|
|**Charity Registration Number**|1110447|
|**Solicitors:**|Holmes & Hills LLP|
||C/o Holmes & Hills|
||Bocking End|
||Braintree|
||Essex|
||CM7 9AJ|
|**Bankers**|National Westminster Bank Plc|
||47 High Street|
||Braintree|
||Essex|
||CM7 1JT|
|**Auditor**|Lambert Chapman LLP|
||Chartered Accountants and Registered Statutory Auditors|
||3 Warners Mill|
||Silks Way|
||Braintree|
||Essex|
||CM7 3GB|
Page 1
## **Braintree District Museum Trust**
## **Trustees' Report**
## **CHAIR’S REPORT**
Having survived Covid and returned largely to normal operations, the year brought its own challenges, not least the effects of high inflation. This had an impact on the costs faced by the Trust and an effect on our visitors and the local public we serve.
Exhibitions during the year started with The Art of Friendship: Denise Hoyle & Marianne Straub from January to June 2022, featuring the first display of collages by the Great Bardfield artist Denise Hoyle and details of her friendship with Marianne Straub, Design Director at Warner & Sons. This was followed by Dinosaurs: Eggs to Extinction from July to October 2022 and The Wonderful World of Ladybird Book Artists from November 2022 to June 2023. Education visits and outreach resumed with over 3,500 students participating in education sessions within the Archive, Museum and outreach to schools. Braintree’s Big Illustration, a free community schools outreach project inspired by Braintree Museum’s temporary exhibition, “The Wonderful World of Ladybird Book Artists”, was delivered as part of the national Wild Escape programme. Collaboration and support continued with the Braintree District Cultural Education Partnership, delivering continuing professional development, grant programmes and projects to schools throughout Braintree District. Community activity included the Museum Holiday Club activity and food programme at Braintree Museum, to support the physical and mental wellbeing of young people in low-income households, in partnership with Community 360, Essex County Council and Active Braintree Foundation. Braintree Museum launched the Warm Winter Welcome programme to support our community throughout the winter from October 2022 to March 2023, including free admission on a Saturday, free craft activities and the distribution of free activity packs for low- income families. We also continued our successful group visit programme for adults as part of organised groups or as individuals; girl guiding and scouting sleepovers; and external talks.
Events included the Braintree Textile Talks Day; holiday family activities at Braintree Museum throughout the year; Braintree Christmas Light Switch On; and workshops, including Christmas wreath making. Successful participation in the National Heritage Open Days included free entry to Braintree Museum and special store tours at the Warner Textile Archive.
The Warner & Sons Gallery at Braintree Museum, introducing the history of the Warner Textile Archive collection, is now accessible to the public five days a week. Research has become the focus of the Warner Textile Archive, as a research centre for textile design and history by appointment or online. Archive enquiries included the 50 Treasures of Essex publication for the Art Society; Royal Naval College, Greenwich; Gainsborough’s House, Sudbury; English Heritage’s Audley End; CSIRO (Australia’s National Science Agency); and the Church Recording Society. A third year PhD student from Essex University undertook an Innovate UK funded project to review commercial activity of the Warner Textile Archive, continuing an ongoing collaborative relationship with the University of Essex that includes support for its Master’s degree programme.
Warner Textile Archive Trading Limited sales of furnishing fabrics via Claremont Furnishing Fabrics Company achieved their highest turnover in nine years of trading providing a valuable annual donation to the Trust.
The Trust's major stakeholder, Braintree District Council, continued its financial support within the terms of its Funding and Management Agreement, albeit at an 8% reduction on the previous year. We are very grateful to the wide range of funders who provided donations and grants throughout the year including Active Braintree Foundation; Association of Independent Museums; Braintree District Council (Councillor Community Grant Scheme); Braintree District Council (Health & Wellbeing Board); Courtauld Gallery; Essex Association of Local Councils; Essex County Council; Friends of Braintree District Museum; Museums Essex; National Lottery Heritage Fund; Textile Society; The Art Fund; and SHARE Museums East.
Development of the Museum site moved forward with the opening of Something Scrummy at Braintree Museum in August 2022, offering a perfect place to enjoy lunch or refreshments as part of a visit, with indoor, outdoor seating and takeaway.
Page 2
## **Braintree District Museum Trust**
## **Trustees' Report**
Volunteer numbers continue to grow and we now have over 30. Our volunteers provide many hours working in numerous different ways to support the Museum and Archive and we are immensely grateful to them all. We have also introduced a student placement scheme at the Archive to support the work of the archivist. The services provided to both individuals and organisations by the Trust are only possible through the hard work and dedication of the staff, whom the Trustees would like to thank. I would also like to offer my thanks to my fellow Trustees for their time and effort, freely given, whose guidance and support are vital to the Trust.
On 29 March 2023 Sheila Charrington retired as chair of the trustees, having fulfilled the role for 4 years and as a Trustee for eleven. On behalf of everyone I would like to record our thanks for her years of work, encouragement and support for the Trust.
David Wisbey Chair
Page 3
## **Braintree District Museum Trust**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2023.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Braintree District Council (F Ricci) (resigned 26 June 2023) S Charrington (resigned 29 March 2023) J A Harrison I Hutton-Jamieson D C Lindsay JW Miners (resigned 27 July 2022) K L Pavid H T Price J Stern (resigned 2 November 2023) D Wisbey Chairman: S Charrington (resigned 29 March 2023) D Wisbey Senior Management / Leadership R N Rose Team:
## **Objectives and activities**
## _**Objects and aims**_
Our Charity’s purpose is set out in the objects listed in the Company’s Articles of Association. It is to recognise, preserve, interpret and promote Braintree District’s unique collections and the heritage of design, industry and natural history that are in its care of local, national and international significance, to stimulate design, creativity, industry, curiosity and inspiration for all generations worldwide. This purpose is realised in the pursuit of the following:
(i) the development and maintenance of the museum named Braintree Museum ("the Museum") for the interpretation and care of items of local or historic interest or value (the “Museum Collection"); and (ii) the development and maintenance of the archive named Warner Textile Archive (“the Archive”) for the interpretation and care of items of historic interest or value relating to the textile company and associated history of Warner & Sons Ltd, its predecessors and successors (the “Archive Collection”); and
(iii) the creation, marketing and promotion of activities, displays, education, events, exhibitions, publications, research related to culture and the Archive Collection and Museum Collection.
Our aims fully reflect the purposes that the Charity was set up to further.
Page 4
## **Braintree District Museum Trust**
## **Trustees' Report**
## _**Public benefit**_
All our charitable activities focus on the interpretation and care of the Collections and the provision of a range of exhibitions, educational activities and outreach to the people of Braintree District and beyond, undertaken to further our charitable purposes for public benefit.
Both the Archive and Museum charge admission fees for adults and children to help cover expenses, although children under five, students, carers, Friends of Braintree District Museum, members of the Museums Association and the Art Fund are free. Admission to the Archive or Museum allows free re-entry within a month. During 2022-2023 admission to the Museum was maintained with the Archive open to the public by appointment to focus upon research.
The Trust continues to maintain its full accreditation awarded by Arts Council England (ACE) to Braintree District Museum (number 690) and the Warner Textile Archive (number 2175) in 2015 and it was invited to reapply in 2023.
12,102 people visited Braintree Museum including virtual programmes in 2022-2023, an 80% increase on the previous year (6,736) including 3,594 school children on actual and outreach visits, a 17% increase on the previous year (3,066).
986 people visited the Warner Textile Archive in 2022-2023, a 63% increase on the previous year (606) including 436 school children on actual and outreach visits, a 201% increase on the previous year (145).
The Archive’s commercial services in licensing, commissions and wholesale product development continued.
We use the direction offered in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
## _**Use of volunteers**_
The Trustees are continually grateful to the many volunteers who supported the Archive and Museum in various ways throughout the year.
## **Financial review**
## _**Policy on reserves**_
The Trust holds available reserves of £159,272 comprising unrestricted reserves of £192,986 less unrestricted tangible fixed assets of £29,057 minus designated funds of £4,657. The funds required by the Trust are £50,000 in total, split equally between the Archive and the Museum trading accounts for three months in advance to cover overheads including ICT, utilities and insurance with a contribution to salaries for the Museum and the Archive. The Trust holds reserves greater than its policy to manage cash flow and support restricted funding when grants have to be reclaimed after the initial expenditure.
Page 5
## **Braintree District Museum Trust**
## **Trustees' Report**
## _**Principal funding sources**_
The Trust generated £403,946 in unrestricted income from donations and legacies, charitable activities, investment income, and other income. Also included within the unrestricted income total this year is £26,169 of donated services.
In addition, specific projects are funded through restricted grants, donations and legacies. Key funders, with details in note 20, included:
•£11,121 by Braintree District Council Active Braintree Foundation (£1,350); Community 360 (£300); Essex Community Foundation (£4,500); Essex County Council Essex ActivAte Holiday Activity & Food Club (£4,971) for Museum Activity Days.
•£8,100 by Braintree District Council Health & Wellbeing Board (£6,500); Essex Association of Local Councils (£1,000) and SHARE Museums East for Equity & Diversity (£600) for the Warm Winter Welcome programme.
- •£5,000 by National Lottery Heritage Fund from its Steps to Sustainability Fund.
- •£4,975 by The Art Fund for Student Opportunities programme.
- •£4,708 by Association of Independent Museums for Arts Scholars Brighter Day Scheme.
•£3,950 from SHARE Museum East for Wild Escape (£2,950) and the photographic conservation assessment (£1,000)
•£3,774 by The Textile Society for Archive and Conservation Award
•£3,422 by Braintree District Council Councillor Community Grants for Together in Sound (£722) and Ladybird Exhibition (£2,700)
•£2,450 by Community 360 on behalf of Braintree District Council’s Shared Prosperity Fund for Museum Takeover Activity Days.
- •£2,049 by Friends of the Museum for Archive racking repair and Museum alarm.
- •£1,282 by The Courtauld Gallery for the Courtauld Connects regional outreach programme.
- •£700 by Basildon Embroidery Group for embroidery conservation and display.
The Trust also benefits from unrestricted funding from Braintree District Council, which continues to be the Trust’s primary supporter with payment of the fifth year of a rolling four-year Council service fee under a Funding & Management Agreement of £171,690 and a peppercorn rent for the leasehold of the Warner Textile Archive.
## _**Expenditure review**_
In note 7, costs rose by £22,303 from the previous year mainly due to the resumption of school, admission, workshop marketing, exhibitions and talks expenditure following COVID-19; and higher commercial, utility, ICT, cleaning, marketing and training costs. The costs this year also include donated IT services of £26,189 which are also recognised in income in Note 3. Governance costs decreased by £1,850. Unrestricted expenditure increased by £60,308 and restricted expenditure decreased by £38,005.
## _**Investment policy and objectives**_
The Trust currently does not have surplus funds to invest. However, if the situation changed the Trust would establish an Investments Sub-Committee and consider the use of professional advisors.
Page 6
## **Braintree District Museum Trust**
## **Trustees' Report**
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees have assessed whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees have taken into account and have concluded that the Trust is a going concern.
## **Structure, governance and management**
## _**Nature of governing document**_
Braintree District Museum Trust is a charitable company limited by guarantee, which incorporated on 30 March 2005 and is registered as a charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event the company is wound up, each member is required to contribute an amount not exceeding £1.
## _**Recruitment and appointment of trustees**_
The directors of the company are also charity trustees for the purposes of charity law. Under the revised requirements of the Articles of Association the Trustees must retire at the 4th annual general meeting following their appointment. They are eligible for re-election for another three years but cannot serve for more than nine years without a year’s break.
Recruitment will continue as an ongoing process by the Board.
## _**Induction and training of trustees**_
The induction and training of Directors will continue to be developed through specific briefings and their meetings including an annual strategy away day.
## _**Organisational structure**_
The Trust has a Board of at least three Directors who meet at least every two months and are responsible for the strategic direction and policy of the Trust and ensuring the Trust meets the objectives of funders.
The day-to-day running of the Trust has been delegated to Braintree District Museum Trust staff under the terms of the Funding and Management Agreement dated 1st April 2018.
Page 7
## **Braintree District Museum Trust**
## **Trustees' Report**
## **Relationships with related parties**
The Trust is responsible for the care of collections owned by other organisations:
• Braintree District Council owns the local history collection under terms of a funding and management agreement and owns the freehold of the Warner textile Archive.
• The Heritage Lottery Fund grant funded the purchase of the Warner Textile Archive collection and its on-going interests are included in various documents jointly with the Trust and Braintree District Council.
The Trust has a wholly owned subsidiary company, Warner Textile Archive Trading Limited, which undertakes commercial activities on behalf of the Trust.
The Friends of Braintree District Museum and Heritage Trust support the Trust through fundraising and promotion. Their Chairman is also a Trustee.
## **Risk Management**
The Board continues to be focused on balancing the need to become self-sufficient from external funding whilst minimising financial risk. The Trust has developed a risk register that is regularly reviewed by the Board.
## **Complaints Policy**
The Trust is committed to ensuring that visitors, staff, volunteers, funders and donors are treated equally, promptly and with respect and has now published a Complaints Policy.
## **Conflict of Interest Policy**
The Trust prepares annual declarations of interest as part of the annual preparation of accounts.
## **Disclosure of information to auditor**
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 18 December 2023 and signed on its behalf by:
......................................... H T Price Trustee
Page 8
## **Braintree District Museum Trust**
## **Statement of Responsibilities**
The trustees (who are also the directors of Braintree District Museum Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 18 December 2023 and signed on its behalf by:
......................................... H T Price Trustee
Page 9
## **Braintree District Museum Trust**
## **Independent Auditor's Report to the Members of Braintree District Museum Trust**
## **Opinion**
We have audited the financial statements of Braintree District Museum Trust (the 'charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 10
## **Braintree District Museum Trust**
## **Independent Auditor's Report to the Members of Braintree District Museum Trust**
## **Opinion on other matter prescribed by the Companies Act 2006**
- In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Responsibilities (set out on page 9), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
Page 11
## **Braintree District Museum Trust**
## **Independent Auditor's Report to the Members of Braintree District Museum Trust**
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with trustees and other management.
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, taxation legislation and data protection, employment and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Page 12
## **Braintree District Museum Trust**
## **Independent Auditor's Report to the Members of Braintree District Museum Trust**
...................................... Nicholas Forsyth FCA (Senior Statutory Auditor) For and on behalf of Lambert Chapman LLP, Statutory Auditor
3 Warners Mill Silks Way Braintree Essex CM7 3GB
22 December 2023
Page 13
## **Braintree District Museum Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total Income
**Expenditure on:**
Charitable activities
7
Total Expenditure
Net expenditure
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20|**Unrestricted**
**£**
260,993
114,750
10,346
17,857
403,946
(426,130)
(426,130)
(22,184)
(736)
(22,920)
215,906
192,986|**Restricted**
**£**
51,531
-
-
-
51,531
(79,369)
(79,369)
(27,838)
736
(27,102)
3,159,109
3,132,007|**Total**
**2023**
**£**
312,524
114,750
10,346
17,857
455,477
(505,499)
(505,499)
(50,022)
-
(50,022)
3,375,015
3,324,993|**Total**
**2022**
**£**
374,996
92,379
8,248
6,493|
|---|---|---|---|---|
|||||482,116|
|||||(483,196)|
|||||(483,196)|
|||||(1,080)
-|
|||||(1,080)
3,376,095|
|||||3,375,015|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 20.
The notes on pages 17 to 36 form an integral part of these financial statements. Page 14
## **Braintree District Museum Trust**
## **(Registration number: 05408088) Balance Sheet as at 31 March 2023**
|**Note**
**Fixed assets**
Tangible assets
12
Heritage assets
13
Investments
14
**Current assets**
Stocks
15
Debtors
16
Cash at bank and in hand
17
**Creditors: Amounts falling due within one year**
18
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
20
**Unrestricted income funds**
Unrestricted funds
**Total funds**
20|**2023**
**£**
1,074,579
2,062,441
1
3,137,021
15,034
50,604
145,379
211,017
(23,045)
187,972
3,324,993
3,132,007
192,986
3,324,993|**2022**
**£**
1,114,874
2,062,441
1|
|---|---|---|
|||3,177,316|
|||13,189
84,246
144,908|
|||242,343
(44,644)|
|||197,699|
|||3,375,015|
|||3,159,109
215,906|
|||3,375,015|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 14 to 36 were approved by the trustees.
The financial statements authorised for issue on 18 December 2023 and signed on their behalf by:
.........................................
H T Price Trustee
The notes on pages 17 to 36 form an integral part of these financial statements. Page 15
## **Braintree District Museum Trust**
## **Statement of Cash Flows for the Year Ended 31 March 2023**
|**Note**
**Cash flows from operating activities**
Net movement in funds
**Adjustments to cash flows from non-cash items & non-operating**
**activities**
Depreciation
Loss on disposal of fixed assets held for the charity's own use
8
**Working capital adjustments**
(Increase)/decrease in stocks
15
Decrease/(increase) in debtors
16
(Decrease)/increase in creditors
18
Net cash flows from operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
12
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March|**2023**
**£**
(50,022)
46,856
135
(3,031)
(1,845)
33,642
(21,599)
7,167
(6,696)
471
144,908
145,379|**2022**
**£**
(1,080)
51,886
532|
|---|---|---|
|||51,338
5,488
(28,878)
22,961|
|||50,909
(20,553)|
|||30,356
114,552|
|||144,908|
The notes on pages 17 to 36 form an integral part of these financial statements. Page 16
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **1 Charity status**
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: C/o Holmes & Hills Solicitors, Bocking End, Braintree, Essex, CM7 9AJ.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Braintree District Museum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis.
## **Judgements**
Apart from those judgements involving estimations, the management team have not made any judgements in the process of applying the entity’s accounting policies that have significant effect on the amounts recognised in the accounts.
## **Key sources of estimation uncertainty**
There are no key assumptions concerning the future or other key sources of estimation at the reporting date that we have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Page 17
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Income and endowments**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Incoming resources consists of donations, grants, admission fees, shop sales, licensing designs and rental income.
Donations, grants and similar incoming resources are credited to the Statement of Financial Activities in the year in which they are received or where it is probable that such income will be received.
Income from admission fees and shop sales are included in incoming resources in the period in which they are received.
Licensing design income relates to royalties due in the year and is included in incoming resources when the income can be measured reliably and it is probable it will be received.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Other income represents income that cannot be reported under the other analysis headings provided within the SOFA.
## _**Gifts in kind**_
Gifts in kind are recognised in different ways dependent on how they are used by the charity. Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them. The Charity does not receive any other gifts in kind.
## _**Donated services and facilities**_
Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at fair value unless the fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of Trustee meetings and the cost of any legal advice to Trustees on governance or constitutional matters.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Page 18
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Government grants**
Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income when the Charity is entitled to the income, it can be measured reliably and it is probable that the economic benefits associated with the grant will flow to the Charity. Grants relating to assets are recognised over the expected useful life of the asset.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £1,000 or more are initially recorded at cost.
## **Heritage assets**
The Warner Textile Archive Collection including the Christopher Lennox Boyd Collection is managed according to Arts Council England Accreditation standards including a description of the heritage asset; policy for acquisition, preservation, management and disposal of heritage assets as detailed in the Warner Textile Archive Collections Development Policy.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Improvements to property|2%, 5% and 10% straight line basis|
|John Ray Gallery and Coach Park|10% straight line basis|
|Fixtures, fittings and equipment|10%, 20%, 25% straight line basis|
|Freehold and leasehold land and buildings|2% straight line basis|
Depreciation is not provided for on the Warner & Christopher Lennox Boyd Collection. Any depreciation charges are considered to be immaterial as, in the view of the Trustees, these assets are well maintained and, as such, are unlikely to reduce in value.
## **Fixed asset investments**
Fixed asset investments are stated at historic cost less provision for any diminution in value.
## **Stock**
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Page 19
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise of cash on hand and call deposits.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Designated income funds are general funds that have been designated for a specific use by the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations and legacies
Grants, including capital grants;
Government grants
Grants
Donated services and facilities|**Unrestricted**
**funds**
**General**
**£**
58,118
176,706
-
26,169
260,993|**Restricted**
**funds**
**£**
-
-
51,531
-
51,531|**Total**
**2023**
**£**
58,118
176,706
51,531
26,169
312,524|**Total**
**2022**
**£**
37,204
226,407
75,099
36,286|
|---|---|---|---|---|
|||||374,996|
Included within the donations and legacies income above is a donation from Warners Textile Archive Trading Limited, a trading subsidiary, of £51,443 (2022: £30,759).
Page 20
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **4 Income from charitable activities**
## **Unrestricted**
|Warner Textile Archive (WTA)
Braintree District Museum (BDM)
**5**
**Investment income**
Rental Income
**6**
**Other income**
Management charges
Other income|**General**
**£**
38,535
76,215
114,750
**Unrestricted**
**General**
**£**
10,346
10,346
**Unrestricted**
**General**
**£**
13,395
4,462
17,857|**Restricted**
**£**
-
-
-
**Restricted**
**£**
-
-
**Restricted**
**£**
-
-
-|**Total**
**2023**
**£**
38,535
76,215
114,750
**Total**
**2023**
**£**
10,346
10,346
**Total**
**2023**
**£**
13,395
4,462
17,857|**Total**
**2022**
**£**
44,912
47,467|
|---|---|---|---|---|
|||||92,379|
|||||**Total**
**2022**
**£**
8,248|
|||||8,248|
|||||**Total**
**2022**
**£**
6,493
-|
|||||6,493|
Page 21
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **7 Expenditure on charitable activities**
|Bad debts
(Profit)/loss on disposal of assets
Shop purchases
Specific grant expenditure- unrestricted
School expenses and teaching costs
Admissions expenditure, workshop and
talks
Textile fair
Commercial licensed designs,
commissions and wholesale
Specific Grant Expenditure-
Designated
Specific grant expenditure- restricted
Donated IT Services
Utilities
Insurance
Maintenance and repairs
Computers, printing, IT and
maintenance
Stationery and postage
Subscriptions
Cleaning
Volunteer expenses
Training and travel
Collections management
Marketing
Exhibitions
Bank and credit charges
Governance costs - See note below
Depreciation- restricted
Depreciation- unrestricted|**WTA**
**£**
-
-
693
98,108
-
53
1,535
4,868
595
11,278
13,085
21,438
10,051
6,077
10,082
1,010
278
1,599
12
124
-
243
19
402
13,766
9,901
2,787
208,004|**BDM**
**£**
-
135
10,529
106,276
9,672
3,582
-
-
1,859
27,980
13,084
22,886
9,220
12,204
9,230
649
1,113
8,381
205
895
1,608
2,233
8,178
1,991
11,417
30,075
4,093
297,495|**Total**
**2023**
**£**
-
135
11,222
204,384
9,672
3,635
1,535
4,868
2,454
39,258
26,169
44,324
19,271
18,281
19,312
1,659
1,391
9,980
217
1,019
1,608
2,476
8,197
2,393
25,183
39,976
6,880
505,499|**Total**
**2022**
**£**
1
532
14,433
165,999
6,896
1,632
24
2,438
-
76,611
36,286
34,328
16,216
14,993
15,956
898
222
9,165
670
744
1,144
1,884
1,833
1,372
27,033
40,231
11,655|
|---|---|---|---|---|
|||||483,196|
£426,130 (2022 - £365,822) of the above expenditure was attributable to unrestricted funds and £79,369 (2022 - £117,374) to restricted funds.
Page 22
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Governance Costs**
|Accountancy fees
Audit of company annual accounts
Legal and Professional fees|**WTA**
£
6,347
2,789
4,630
13,766|**BDM**
£
5,989
2,791
2,637
11,417|**Total 2023**
£
12,336
5,580
7,267
25,183|**Total 2022**
£
9,178
4,450
13,405|
|---|---|---|---|---|
|||||27,033|
## **8 Net incoming/outgoing resources**
Net outgoing resources for the year include:
|Audit fees
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets|**2023**
**£**
5,580
135
46,856|**2022**
**£**
4,450
532
51,886|
|---|---|---|
## **9 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **10 Staff costs**
The aggregate payroll costs of these persons were as follows:
|Gross wages
Employers NI
Pension costs|**Total 2023**
179,135
16,169
17,225
212,529|**Total 2022**
164,362
14,351
16,999
195,712|
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Charity Staff|**2023**
**No**
8|**2022**
**No**
7|
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £63,849 (2022 - £61,109).
Page 23
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **11 Taxation**
The charity is a registered charity and is therefore potentially exempt from taxation.
## **12 Tangible fixed assets**
|**Cost**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
Eliminated on
disposals
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022|**Freehold and**
**leasehold land**
**and buildings**
**£**
1,298,215
-
-
1,298,215
336,685
25,965
-
362,650
935,565
961,530|**Fixture,**
**fittings and**
**equipment**
**£**
100,385
-
(2,323)
98,062
71,179
12,317
(2,188)
81,308
16,754
29,206|**John Ray**
**Gallery and**
**Coach park**
**£**
5,967
-
-
5,967
2,965
597
-
3,562
2,405
3,002|**Improvements**
**to property**
**£**
140,053
6,696
-
146,749
18,917
7,977
-
26,894
119,855
121,136|**Total**
**£**
1,544,620
6,696
(2,323)|
|---|---|---|---|---|---|
||||||1,548,993|
||||||429,746
46,856
(2,188)|
||||||474,414|
||||||1,074,579|
||||||1,114,874|
Page 24
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|**13 Heritage assets**
**Cost**
At 1 April 2022
At 31 March 2023
**Depreciation**
At 31 March 2023
**Net book value**
At 31 March 2023
**Summary of transactions**
**2023**
**£**
**Cost brought**
**forward**
Warner &
Christopher Lennox
Boyd collection
2,062,441|**2022**
**£**
2,062,441|**2021**
**£**
2,062,441||**Warner &**
**Christopher**
**Lennox Boyd**
**Collection**
**£**
2,062,441
2,062,441
-
2,062,441
**2020**
**£**
2,062,441|**Total**
**£**
2,062,441
2,062,441
-
2,062,441
**2019**
**£**
2,062,441|
|---|---|---|---|---|---|
|||||**2020**
**£**
2,062,441||
Page 25
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **14 Fixed asset investments**
## **Shares in group undertakings and participating interests**
|**Cost**
At 1 April 2022
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022|**Subsidiary**
**undertakings**
**£**
1
1
1
1|**Total**
**£**
1|
|---|---|---|
|||1|
|||1|
|||1|
## **Details of undertakings**
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
||||**Proportion of voting**||
|---|---|---|---|---|
||**Country of**||**rights and shares**||
|**Undertaking**|**incorporation**|**Holding**|**held**|**Principal activity**|
|**Subsidiary undertakings**|||||
|Warner Textile
Archive Trading
Limited|England|Ordinary £1 shares|100%|Sales
of
fabric
and
licensing income using
Warner
Textile
Archive designs|
## **Subsidiaries**
The profit for the financial period of Warner Textile Archive Trading Limited was £1,839 and the aggregate amount of capital and reserves at the end of the period was £48,568.
Page 26
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **15 Stock**
|**15 Stock**|||
|---|---|---|
|Stocks
**16 Debtors**
Trade debtors
Due from group undertakings
VAT recoverable
Other debtors
**17 Cash and cash equivalents**
Cash at bank
**18 Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals|**2023**
**£**
15,034
**2023**
**£**
8,045
13,839
-
28,720
50,604
**2023**
**£**
145,379
**2023**
**£**
3,780
188
6,172
12,905
23,045|**2022**
**£**
13,189|
|||**2022**
**£**
7,890
14,981
994
60,381|
|||84,246|
|||**2022**
**£**
144,908|
|||**2022**
**£**
26,705
-
7,525
10,414|
|||44,644|
## **19 Obligations under leases and hire purchase contracts**
## **Operating lease commitments**
Total future minimum lease payments under non-cancellable operating leases are as follows:
|**Other**
Within one year
Between one and five years
After five years|**2023**
**£**
673
1,012
392
2,077|**2022**
**£**
757
4
57|
|---|---|---|
|||818|
Page 27
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|**20 Funds**
**Unrestricted funds**
**_General_**
Unrestricted Income Fund
**_Designated_**
Patrons Scheme
**Total unrestricted funds**
**Restricted funds**
Learning for Life Centre & Warners Mill and Archive
Brain Valley Archaeological Society: Archaeological Project
Crittall Windows Digital Archive
Friends of BDM Archive Till Grant
Christopher Lennox Boyd Collection
SHARE Ready to Borrow (Norfolk CC) 2017-2019
Museum Heating System Grants
Friends of Braintree District Museum
BDC WTA CCTV
Courtauld Connects
SHARE Facilities Improvement Grant 2019
Snapping the Stiletto Project 2019-20
SHARE Digital Fund Raising Grant
SHARE Next Steps
ECC Support to VCS Workforce|**Balance at 1**
**April 2022**
**£**
209,295
6,611
215,906
2,985,685
3,829
323
369
38,290
6,411
105,816
2,668
1,017
2,213
2,170
1,278
288
1,108
378|**Incoming**
**resources**
**£**
403,446
500
403,946
-
-
-
-
-
-
-
-
-
1,282
-
-
-
-
-|**Resources**
**expended**
**£**
(423,676)
(2,454)
(426,130)
(25,964)
-
-
(369)
-
(4,474)
(6,085)
(337)
(717)
(2,326)
(300)
(510)
(150)
(310)
(378)|**Transfers**
**£**
(736)
-
(736)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Balance at 31**
**March 2023**
**£**
188,329
4,657|
|---|---|---|---|---|---|
||||||192,986|
||||||2,959,721
3,829
323
-
38,290
1,937
99,731
2,331
300
1,169
1,870
768
138
798
-|
Page 28
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|BDC Councillor Grant - Ladybird Exhibition
NLHF Steps to Sustainability
Friends Summer Raffle
Museums Activity Days
Museums Essex Small Grant Fund
Basildon Embroidery Group
Winter Warmer Welcome
The Textile Society Museum Award
SHARE Museums East Collects Review & Rationalisation Grant 2023
The Art Fund Student Opportunities 2022-2024
The Wild Escape
BDC Councillors Grant - Together in Sound
C360 Shared Prosperity Fund
Association of Independent Museums Arts Scholars Brighter Day Grant
Scheme 2023-2024
**Total restricted funds**
**Total funds**|**Balance at 1**
**April 2022**
**£**
-
5,000
-
1,766
500
-
-
-
-
-
-
-
-
-
3,159,109
3,375,015|**Incoming**
**resources**
**£**
2,700
5,000
2,049
11,121
-
700
8,100
3,774
1,000
4,975
2,950
722
2,450
4,708
51,531
455,477|**Resources**
**expended**
**£**
(3,000)
(7,805)
(2,472)
(11,751)
-
(713)
(4,536)
(1,460)
(1,000)
(429)
(2,399)
(722)
(1,162)
-
(79,369)
(505,499)|**Transfers**
**£**
300
-
423
-
-
13
-
-
-
-
-
-
-
-
736
-|**Balance at 31**
**March 2023**
**£**
-
2,195
-
1,136
500
-
3,564
2,314
-
4,546
551
-
1,288
4,708|
|---|---|---|---|---|---|
||||||3,132,007|
||||||3,324,993|
Page 29
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|**Unrestricted funds**
**_General_**
Unrestricted Income Fund
**_Designated_**
Patrons Scheme
**Total unrestricted funds**
**Restricted**
Learning for Life Centre & Warners Mill and Archive
Brain Valley Archaeological Society: Archaeological Project
Crittall Windows Digital Archive
Friends of BDM Archive Till Grant
Friends of BDM Museum Till Grant
Christopher Lennox Boyd Collection
SHARE Ready to Borrow (Norfolk CC) 2017-2019
Museum Heating System Grants
Friends of Braintree District Museum
BDC WTA CCTV
Courtauld Connects
SHARE Facilities Improvement Grant 2019
Snapping the Stiletto Project 2019-20
SHARE Digital Fund Raising Grant
SHARE Next Steps
ROH Bridge Learning Offer
National Lottery Heritage Emergency Fund|**Balance at 1**
**April 2021**
**£**
158,053
6,611
164,664
3,012,089
3,829
323
601
613
38,290
10,885
111,902
3,005
1,734
2,995
2,470
1,788
650
1,418
2,549
15,760|**Incoming**
**resources**
**£**
407,017
-
407,017
-
-
-
-
-
-
-
-
-
-
3,616
-
-
-
-
1,000
-|**Resources**
**expended**
**£**
(365,822)
-
(365,822)
(26,404)
-
-
(232)
(611)
-
(4,474)
(6,086)
(337)
(717)
(3,348)
(300)
(510)
(362)
(310)
(3,554)
(13,515)|**Transfers**
**£**
10,047
-
10,047
-
-
-
-
(2)
-
-
-
-
-
(1,050)
-
-
-
-
5
(2,245)|**Balance at 31**
**March 2022**
**£**
209,295
6,611|
|---|---|---|---|---|---|
||||||215,906|
||||||2,985,685
3,829
323
369
-
38,290
6,411
105,816
2,668
1,017
2,213
2,170
1,278
288
1,108
-
-|
Page 30
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|ECC Support to VCS Workforce
ACE Cultural Recovery
BDC Councillor Grant - Ladybird Exhibition
SEBCOR COVID-19 Response Fund
SHARE Recovery Grant
SHARE Museums East Mentoring
NLHF Steps to Sustainability
Friends Summer Raffle
Museums Activity Days
Museums Essex Small Grant Fund
**Total restricted funds**
**Total funds**|**Balance at 1**
**April 2021**
**£**
530
-
-
-
-
-
-
-
-
-
3,211,431
3,376,095|**Incoming**
**resources**
**£**
-
50,000
6,000
2,875
980
595
5,000
2,000
2,533
500
75,099
482,116|**Resources**
**expended**
**£**
(152)
(46,022)
(6,021)
-
(985)
(663)
-
(2,004)
(767)
-
(117,374)
(483,196)|**Transfers**
**£**
-
(3,978)
21
(2,875)
5
68
-
4
-
-
(10,047)
-|**Balance at 31**
**March 2022**
**£**
378
-
-
-
-
-
5,000
-
1,766
500|
|---|---|---|---|---|---|
||||||3,159,109|
||||||3,375,015|
Page 31
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Purpose of Restricted Funds**
## **1. Learning for Life Centre:**
This is a fund for enhancing facilities to better the aims and objectives of the Trust by providing a centre for education and new stores for the collections held by the museum, with an annual depreciation charge.
## **1. Warners Mill and Archive:**
This is a fund for the purchase and preservation of the Warner Archive, to ensure the continuity of the Archive both for the benefit of education and public users, with an annual depreciation charge.
## **2. Brain Valley Archaeology Society:**
A grant to undertake an archaeological project based on the interpretation of local archaeology, awarded in 2009.
## **3. Crittall Window Digital Archive:**
A fundraising campaign to conserve paintings within the Crittall Old Iron Portrait Collection part of the Crittall Windows Archive from Just Giving Fundraising online £117 and cash donations £206.
## **4. Friends of BDM Archive Till Grant:**
A contribution towards the purchase of a programmable till and integrated stock control system, with an annual depreciation charge. This asset was disposed of during the year.
## **5. Christopher Lennox Boyd Collection:**
A collection of items sold by Warner & Sons in 1972 through Christie’s Auction and purchased by Christopher Lennox Boyd, “accepted in lieu of Inheritance Tax by H M Government and allocated to the Braintree District Museum Trust Ltd 2015”.
## **6. SHARE Ready to Borrow 2017-19 Grant:**
A grant to improve the security, CCTV, environmental monitoring and lighting of the Museum premises for displays and exhibitions, with an annual depreciation charge.
## **7. Museum Heating System Grants:**
Grants were received from Braintree District Council and from Friends of the Museum in 2018-2019 to contribute to the cost of decommissioning the existing and installing a replacement heating system including boiler, pumps, fan convectors and all associated pipework, valves and controls at Braintree Museum, with an annual depreciation charge.
## **8. Friends of Braintree District Museum:**
Funding in 2019-2020 towards the creation of the Warner & Sons Gallery at Braintree Museum including electrical works, flooring refurbishment and display panelling, with an annual depreciation charge.
Page 32
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **9. BDC WTA CCTV:**
A grant from Braintree District Council in 2018-2019 to contribute to the cost of installing a new CCTV digital recording system and cameras at the Warner Textile Archive, with an annual depreciation charge.
## **10. Courtauld Connects:**
A grant from The Courtauld Gallery to contribute to loans, oral history, marketing and volunteering at Braintree Museum as a regional partner of their Courtauld Connects programme, including an annual depreciation charge.
## **11. SHARE Facilities Improvement Grant 2019:**
A grant of £3,000 from SHARE Museums East in 2018-2019 to contribute to the cost of a high quality, secure case for the display of objects including those on loan from national institutions, with an annual depreciation charge.
## **12. Snapping the Stiletto Project 2019-20:**
Two grants totalling £2,750 awarded from Essex County Council for Snapping the Stiletto: 100 Years of Change Project, with an annual depreciation charge.
## **13. SHARE Digital Fund Raising Grant:**
A grant of £550 from SHARE Museums East Digital Fundraising Capacity Fund and a grant of £100 from Essex County Council MDO Travel Fund.
## **14. SHARE Next Steps:**
A grant from SHARE Museums East to support Braintree Museum’s COVID-19 Recovery Plan including hand sanitiser stations; additional cleaning; Shop sneeze screen; barriers; ICT equipment for remote working; tables to enable socially distanced activities; improved ventilation and relocation of the Museum Shop entrance, indirectly funded by The Art Fund and Arts Council England including an annual depreciation charge.
## **15. ECC Support to VCS Workforce:**
A grant from Essex County Council to provide wellbeing support for the Trust’s workforce.
## **16. BDC Councillor Grant - Ladybird Exhibition:**
A grant from Braintree District Council Councillor’s Community Grant funding costs associated with the Wonderful World of Ladybird Artists exhibition at Braintree Museum.
## **17. NLHF Steps to Sustainability:**
A training programme and grant from the National Lottery Heritage Fund managed by the Social Enterprise Academy to support business development and a project to improve the branding, marketing and promotion of the Warner Textile Archive.
## **18. Friends Summer Raffle:**
Funding from the Friends of Braintree District Museum in 2022-2023 towards Archive and Museum signage, repair of Archive racking and Museum alarm access.
Page 33
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **19. Museum Activity Days:**
A programme of school holiday activity days and food clubs at Braintree Museum for low income families funded by Braintree District Council Active Braintree Foundation £1,350; Community 360 £300; Essex Community Foundation £4,500; Essex County Council Essex ActivAte Holiday Activity and Food Club £4,971.
## **20. Museums Essex Small Grant Fund:**
A grant from Museums Essex to review the archaeological archives held and to be transferred to Braintree Museum and assess the opportunities for their storage, research and interpretation.
## **21. Basildon Embroidery Group:**
A grant from Basildon Embroidery Group to fund the conservation of embroideries at Braintree Museum.
## **22. Winter Warmer Welcome:**
A Braintree District Council Public Health Project Grant of £6,500 in response to the cost of living and energy crisis to provide free children’s activity sessions, free internet access, free outreach talks and reminiscence to older people, free Museum Takeover Days, free Together in Sound music therapy sessions for those living with dementia and their carers at Braintree Museum during Autumn 2022 and Winter 2023. Further support from a Essex Association of Local Council’s grant of £1,000 to support free Saturday opening, distribution of free activity packs for children, accessible sanitary products and free museum activity days. A grant from SHARE Museums East to extend the Warm Winter Welcome programme to harder to reach members of the local community.
## **23. The Textile Society Museum Award:**
The Textile Society’s Museum, Archive and Conservation Award 2022 for the Warner Textile Archive project, An Artist in Silk - Revealing the Imagination of the Nineteenth Century Silk Industry to survey, package, catalogue and digitise early hand-painted paper designs and an accompanying engagement programme.
## **24** . **SHARE Museums East Collections Review & Rationalisation Grant 2021:**
A grant from SHARE Museums East to review the photography collections held by Braintree Museum and create a digitisation strategy.
## **25. The Art Fund Student Opportunities 2022-2024:**
A grant from The Art Fund Student Opportunities programme for the Warner Textile Archive project The 1920s Home: Developments in Art Deco Textile Design to support six students to catalogue and interpret part of the 1920s furnishing fabrics collection.
## **26. The Wild Escape:**
A grant administered by SHARE Museums East and made possible by lead support from Arts Council England’s National Lottery Project Grants, with additional support from Art Fund, to support Braintree’s Big Illustration, a community schools outreach project to local Primary Schools, based on The Wonderful World of Ladybird Book Artists exhibition focusing on nature and environment as part of the national The Wild Escape scheme.
Page 34
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **27. BDC Councillors Grant- Together in Sound:**
A grant from Braintree District Council Councillor’s Community Grant funding costs associated with the Together in Sound music therapy programme for those living with dementia and their carers at Braintree Museum **.**
## **28. C360 Share Prosperity Fund:**
A grant administered by Community 360 from the Braintree District Council Shared Prosperity Fund for the provision and project management of Saturday Museum Takeover Days themed around LEGO®.
## **29. Association of Independent Museums Arts Scholars Brighter Day Grant Scheme 2023-2024:**
An award from the Association of Independent Museums Arts Scholars Brighter Day Grant Scheme for research, interpretation and digitisation of the Castle Hedingham Pottery collection for the Potty about our pottery! exhibition at Braintree Museum.
## **Purpose of Designated Funds**
## **1.Patron of Braintree Museums Fund.**
Donations from a generous group of individuals who seek to support Braintree’s unique heritage cared for by the charitable activities of Braintree District Museum Trust as seed funding to enable capital developments and projects.
Page 35
## **Braintree District Museum Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **21 Analysis of net assets between funds**
|Tangible fixed assets
Heritage assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
29,057
-
1
186,673
(22,745)
192,986
**Unrestricted**
**funds**
**General**
**£**
30,290
1
230,259
(44,644)
215,906|**Restricted**
**funds**
**£**
1,045,522
2,062,441
-
24,344
(300)
3,132,007
**Restricted**
**funds**
**£**
3,147,025
-
12,084
-
3,159,109|**Total funds at**
**31 March**
**2023**
**£**
1,074,579
2,062,441
1
211,017
(23,045)|
|---|---|---|---|
||||3,324,993|
||||**Total funds at**
**31 March**
**2022**
**£**
3,177,315
1
242,343
(44,644)|
||||3,375,015|
## **22 Related party transactions**
During the year the charity made the following related party transactions:
## **Warner Textile Archive Trading Ltd**
During the year there were transactions totalling £64,794 (2022- £37,252) between the Charity and Warner Textile Archive Trading Ltd, a subsidiary company of the Charity. The transactions were made up of a £51,443 donation from the trading subsidiary and a management recharges of £13,351. At the balance sheet date the amount due from Warner Textile Archive Trading Ltd was £13,839 (2022 - £14,981).
## **Taylor Wessing LLP**
## (Related party)
During the year there were transactions for professional services totalling £Nil (2022 - £2,738) between the Charity and Taylor Wessing LLP, which is deemed to be a related party (under the Charity SORP) of one of the trustees. At the balance sheet date the amount due to/from to Taylor Wessing LLP was £Nil (2022 - £1,290).
## **Friends of the Museum**
During the year there was a donation of £4,000 (2022: £4,000) and grants of £2,225 (2022: £2,754) from Friends of the Museum, a Charity which shares a common trustee, to The Braintree District Museum Trust. At the balance sheet date the amount due to/from Friends of the Museum was £Nil (2022 - £Nil).
## **Controlling Entity**
The charity is controlled by the Trustees who are all directors of the company.
Page 36