2023-03-31-accounts

Trustees		Susan Prevezer	Susan Prevezer	KC
		Miss S Bardgett
		Miss W Monkhouse
		Mr A Spiro
		Mr S Kon
		Miss A Biggs
		Mr P Chilton
		Juliet Rosenfeld
		Anne Worthington
		Susanna Abse
		Ms L Hillman
Charity number		1112854
Company	number	5467415
Registered	office	20 Maresfield	Gardens
		London
		NW3 5SX
Auditor		SBMAssociates		Limited
		24 Wandsworth		Road
		London
		SW8 2JW

			Page
Trustees'	report		1-11
Statement	ofTrustees'	responsibilities	12
Independent auditor's		report	13- 16
Statement	offinancial	activities	17-18
Statement	offinancial	position	19-20
Statement	ofcash flows		21
Notes to the financial statements			22-39

Current financial year
				Unrestricted	Restricted	Total	Total
				funds	funds
				2023	2023	2023	2022
			Notes	E	F
Income and endowments			from:
Donations and legacies				89,625	107,581	197,206	228,394
Income from charitable	activities			412,309		412,309	246,563
Income from other trading			activities	76,259		76,259	53,044
Investment income				1,681		1,681	52
Management fees				45,000		45,000	23,500
Other income							78,778
Total income				624,874	107,581	732,455	630,331
Costs ofraising funds				71,014	'38,753	109,767	101,199
Cost ofcharitable activities				626,692	37,108	663,800	563,848
Other				979		979
Total expenditure				698,685	75,861	774,546	665,047
Net (outgoing)/incoming			resources before transfers	(73,811)	31,720	(42,091)	(34,716)
Gross transfers between		funds		48,126	(48,126)
Net expenditure for the		year/
Net movement in funds				(25,685)	(16,406)	(42,091)	(34,716)
Fund balances at 1 April	2022			258,929	3,868,673	4,127,602	4,162,318
Fund balances at 31 March 2023				233,244	3,852,267	4,085,511	4,127,602

Prior financial year
				Unrestricted	Restricted	Total
				funds	funds
			Notes	2022f	2022	2022 E
Income and endowments		from:
Donations and legacies				119,138	109,256	228,394
Income from charitable	activities			246,563		246,563
Income from other trading		activities		53,044		53,044
Investment income				52		52
Management fees				23,500		23,500
Other income				78,778		78,778
Total income				521,075	109,256	630,331
Costs ofraising funds				34,263	66,936	101,199
Cost ofcharitable activities				510,263	53,585	563,848
Total expenditure				544,526	120,521	665,047
Net (outgoing)/incoming		resources before transfers		(23,451)	(11,265)	(34,716)
Net expenditure for the year/
Net movement in funds				(23,451)	(11,265)	(34,716)
Fund balances at 1 April	2021			282,380	3,879,938	4,162,318
Fund balances at 31 March 2022				258,929	3,868,673	4,127,602

		Notes	2023 f		2022 f
Fixed assets
Tangible assets		14		3,765,109		3,762,973
Investments		15		100		100
				3,765,209		3,763,073
Current assets
Stocks		16	4,440		4,830
Debtors		17	118,854		75,006
Cash at bank and in	hand		298,436		404,857
			421,730		484,693
Creditors: amounts	falling due within
one year			(77,332)		(86,398)
Net current assets				344,398		398,295
Total assets less current liabilities				4,109,607		4,161,368
Creditors: amounts	falling due after
more than one year		20		(24,096)		(33,766)
Net assets				4,085,511		4,127,602
Income funds
Restricted funds		23		3,852,267		3,868,673
General unrestricted	funds			233,241		258,926
Members funds				3		3
				4,085,511		4,127,602

				2023		2022.
			Notes
Cash flows from operating		activities
Cash absorbed by operations			27		(84,354)		(63,652)
Investing	activities
Purchase	oftangible fixed assets			(14,078)		(1,822)
Investment	income received			1,681		52
Net cash	used in investing	activities			(12,397)		(1,770)
Financing	activities
Repayment	of bank loans			(9,670)		(7,901)
Net cash used in financing		activities			(9,670)		(7,901)
Net decrease in cash and		cash equivalents			(106,421)		(73,323)
Cash and	cash equivalents	at beginning	of year		404,857		478,180
Cash and	cash equivalents	at end of	year		298,436		404,857

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					2023 E	2022f
	Admissions				344,269	144,813
	Public programmes				68,040	101,750
					412,309	246,563
5	Income from other trading			activities
					Unrestricted	Unrestricted
					funds	funds
					2023	2022
					K	E
	Premises hire				66,130	51,711
	Sponsorships	and social	lotteries		1,300
	Sundry income				8,829	1,333
	Income from	other trading	activities		76,259	53,044
6	Investment	income

			Unrestricted	Unrestricted
			funds	funds
			2023	2022
	Interest receivable		1,681	52
7	Other income
			Total	Unrestricted
				funds
			2023f	2022
	Insurance	claim		78,778

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				2023	2022f
Staff costs				509,276	447,267
Depreciation and	impairment			11,942	10,483
Insurance and security				49,388	15,963 .
Light and heat				9,266	6,954
Repairs, maintenance		and cleaning		14,530	23,451
Travelling 8 entertainment				442	41
Telephone				5,151	4,945
Computer running	costs			19,064	12,134
Printing, postage	and	stationery		3,139	3,238
Hire ofequipment				1,131	1,094
Professional and	consultancy		fees	18,825	20,251
Auditors remuneration				6,669	8,112
General expenses				3,948	1,599
Subscriptions				1,206	1,963
Bank 8,other charges				2,650	2,776
Bad debts				1,266	(728)
Other charitable expenditure				5,907	4,305
				663,800	563,848
Analysis by fund
Unrestricted funds				626,692	510,263
Restricted funds				37,108	53,585
				663,800	563,848

The average	monthly number ofemployees during th	e year was:
		2023	2022
		Number	Number
		19	17
Employment	costs	2023	2022
		R
Wages and salaries		468,833	411,780
Social security costs		31,337	28,063
Other pension costs		9,106	7,424
		509,276	447,267

		Unrestricted	Total
		funds
		2023	2022
Financing	costs	979
		979

14	Tangible fixed assets	Tangible fixed assets
				Freehold	Collection		Fixtures and	Office	Total
				properly f	acquisitions	f	fittings f	equipment f
	Cost
	At 1 April 2022			3,750,000	700		92,186	91,082	3,933,968
	Additions						7,598	6,480	14,078
	At 31 March	2023		3,750,000	700		99,784	97,562	3,948,046
	Depreciation	and impairment
	At 1 April 2022						92,186	78,809	170,995
	Depreciation	charged	in the year				158	11,784	11,942
	At 31 March	2023					92,344	90,593	182,937
	Carrying amount
	At 31 March	2023		3,750,000	700		7,440	6,969	3,765,109
	At 31 March	2022		3,750,000	700			12,273	3,762,973

				Other
				investments
Cost orvaluation
At 1 April 2022 K31 March 2023				100
Carrying amount
At 31 March 2023				100
At 31 March 2022				100
Other investments	comprise:	Notes	2023f	2022f
Investments in subsidiaries		26	100	100

16	Stocks
					2023	2022
					E	E
	Finished	goods and goods for resale			4,440	4,830
17	Debtors
					2023	2022
	Amounts	falling due within		one year:
	Trade debtors				20,598	8,075
	Amounts	owed by subsidiary		undertakings	17,703	13,404
	Other debtors				57,636	47,192
	Prepayments		and accrued income		22,917	. 6,335
					118,854	75,006

Loans a	nd overdrafts
		2023	2022
Bank loans		32,429	42,099
Payable	within one year	8,333	8,333
Payable	after one year	24,096	33,766

19	Creditors: amounts		falling	falling	due within one year	due within one year
									2023	2022
								Notes	E
	Bank loans							18	8,333	8,333
	Other taxation and social security								11,582	8,979
	Deferred income							21	2,989	46,303
	Trade creditors								22,203	10,901
	'Other creditors								5,714	3,875
	Accruals and deferred			income					26,511	8,007
									77,332	86,398
20	Creditors: amounts		falling		due after more than one		year
									2023	2022
								Notes		F
	Bank loans								24,096	33,766
21	Deferred income
									2023	2022
									E	E
	Other deferred income								2,989	46,303
	Deferred income is included				in the financial statements		as follows:
									2023	2022
										E
	Deferred income is included				within:
	Current liabilities								2,989	46,303
	Movements in the year:
	Deferred income at	1	April 2022						46,303	84,629
	Released from previous			periods					(43,314)	(41,898)
	Resources deferred	in the year				.				3,572 .
	Deferred income at 31			March	2023				2,989	46,303

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24	Analysis ofnet assets between	Analysis ofnet assets between	Analysis ofnet assets between	funds
			Unrestricted		Restricted		Total	Unrestricted	Restricted	Total
				funds		funds		funds	funds
				2023		2023	2023 f	2022	2022	2022
	Fund balances	at 31
	March 2023 are
	represented by:
	Tangible assets Investments			85,109 100	3,680,000		3,765,109 100	82,973 100	3,680,000	3,762,973 100
	Current assets/(liabilities)		172,131		172,267		344,398	210,860	187,435	398,295
	Long term liabilities		(24,096)				(24,096)	(33,766)		(33,766)
			233,244		3,852,267		4,085,511	260,167	3,867,435	4,127,602
25	Related party transactions
	Remuneration	ofkey management personnel
	The remuneration	ofkey management personnel				is as	follows.
									2023	2022
									f.
	Aggregate compensation								40,231	29,306
26	Subsidiaries

Details	ofthe	museum's	subsidiary	subsidiary	at	31	March 2023 are as follows:	March 2023 are as follows:
Name	ofundertaking			Registered			Nature ofbusiness		Class of	'/o Held
				office					shares held	Direct Indirect
Freud	Museum	Enterprises		England		and	Operates the gift shop within		Ordinary	100.00
Limited				Wales			the Freud Museum	and hosts
							events.

27	Cash generated from	operations				2023	2022
							E
	Deficit for the year					(42,091)	(34,716)
	Adjustments for:
	Investment income recognised in statement		offinancial	activities		(1,681)	(52)
	Depreciation and impairment oftangible fixed assets					11,942	10,483
	Movements in working	capital:
	Decrease in stocks					390	450
	(Increase)/decrease in	debtors				(43,848)	28,118
	Increase/(decrease) in	creditors				34,248	(29,609)
	(Decrease) in deferred	income				(43,314)	(38,326)
	Cash absorbed by operations					(84,354)	(63,652)
28	Analysis ofchanges	in net funds
					At 1April 2022 E	Cash flowsAt 31 March 2023f
	Cash at bank and in hand				404,857	(106,421)	298,436
	Loans falling due within	one year			(8,333)		(8,333)
	Loans falling due after	more than one year			(33,766)	9,670	(24,096)
					362,758	(96,751)	266,007