| Reference and Administrative | Reference and Administrative | Details | |
|---|---|---|---|
| Strategic Report | |||
| Trustees' Report |
3to 6 | ||
| Independent Auditors' |
Report | 7to 10 | |
| Statement of Financial | Activities | 11to 12 | |
| Balance Sheet | 13 | ||
| Statement ofCash Flows | 14 | ||
| Notes to the Financial | Statements | 15to 32 |
| Trustees | Colonel (Retired) Brian | M | Gorski MBE DL MSc | Gorski MBE DL MSc | ||||
|---|---|---|---|---|---|---|---|---|
| Colonel (Retired) James | W Denny MBE | |||||||
| Lieutenant Colonel (Retired) Keith Kiddie |
||||||||
| Mr Peter Metcalfe FCA |
||||||||
| Mrs Karan P Lee |
||||||||
| Lieutenant Colonel lain |
MacDoanald | Hallam | ||||||
| Major Richard M Smith |
||||||||
| Lieutenant Colonel (Retired) Eric W |
Davidson | MBE DL (resigned 1 | ||||||
| June 2022) | ||||||||
| Mr Robert JCollicutt (Resigned 17September | 2022) | |||||||
| Mrs Joanne A Marsh (Appointed 20 |
June 2022) | |||||||
| Ms Kiri A Gore (Appointed | 31January 2022) | |||||||
| Charity Registration | Number | 1115452 | ||||||
| Company | Registration | Number | 04791136 | |||||
| The charity is incorporated |
in England. | |||||||
| Principal | Office | The Fusilier Museum | ||||||
| Moss Street | ||||||||
| Bury | ||||||||
| BL9ODF | ||||||||
| Auditor | Horsfield ik Smith |
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| Chartered Accountants |
&Statutory | Auditor | ||||||
| Tower House | ||||||||
| 269Walmersley Road |
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| Bury | ||||||||
| Lancashire | ||||||||
| BL96NX | ||||||||
| Bankers | Barclays Bank Pic | |||||||
| 1Central Street | ||||||||
| The Rock | ||||||||
| Bury | ||||||||
| Lancashire | ||||||||
| BL9OJN |
THE FUSILIERS MUSEUM AND LEARNING CENTRE LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE FUSILIERS MUSEUM AND LEARNING CENTRE LIMITED YEAR ENDED 30 SEPTEMBER 2022 The extent to which our procedures are capable of detecting irregularities. including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detett material mi5Statements in spect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We considered the nature of the limited company'5 industry and its control environment.; and reviewed documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities. We obtained an understanding of the legal and regulatory frameworks that the limited company operates in, and identified the key laws and regulations that: had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation; alld do not have a direct effect on the financial statements but compliance with which may be fundamental to the limited company's ability to operdte or to avoid a material penalty. We 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 discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial Statements. In common with all audits under ISAS IUKI, we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adju5tments,' assessed whether the judgements made in making accountirbg estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. In addition to the above, our procedures to respond to the risks identified included the following: reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effert on the financial statements,. performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk5 of material misstatement due to fraud: enquiring of management concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations,. and reading the minute5 of meeting of those charged with governance. A further description of our responsibilities is available on the Financial Reporting Council's website at.. .www.frc.or8.uVauditors/auditor5-35suran¢e/auditors-rÈ5pon5ibilities-for-the-audit-of-the-linèncial-5t3tements. This description forms part of our auditor's report.
| AND STATEME | NT OF | TOTAL R | ECOGNISE | D GAINS AND | LOSSES) | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | 2022 | ||||
| Note | f | f | f | |||
| Income and Endowments | from: | |||||
| Donations and legacies |
142,315 | 29,721 | 172,036 | |||
| Other trading activities |
78,466 | 78,466 | ||||
| Investment income |
146 | 146 | ||||
| Otherincome | 6,844 | 6,844 | ||||
| Totalincome | 227,771 | 29,721 | 257,492 | |||
| Expenditure on: |
||||||
| Raising funds | (31,140) | (31,140) | ||||
| Charitable activities |
(198,637) | (60,312) | (258,949) | |||
| Total expenditure | (229,777) | (60,312) | (290,089) | |||
| Net expenditure | (2,006) | (30,591) | (32,597) | |||
| Net movement in funds |
(2,006) | (30,591) | (32,597) | |||
| Reconciliation offunds |
||||||
| Total funds brought | forward | 1,530,434 | 3,214,465 | 4,744,899 | ||
| Total funds carried | forward | 21 | 1,528,428 | 3,183,874 | 4,712,302 |
| AND STATEME | NT OF | TOTAL R | ECOGNISED | GAINS AND | LOSSES) | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | 2021 | ||||
| Note | f | f | f | |||
| Income and Endowments | from: | |||||
| Donations and legacies |
226,642 | 96,913 | 323,555 | |||
| Other trading activities | 55,181 | 55,181 | ||||
| Investment income |
25 | 25 | ||||
| Otherincome | 1,300 | 1,300 | ||||
| Total income | 283,148 | 96,913 | 380,061 | |||
| Expenditure on: |
||||||
| Raising funds | (52,183) | (52,183) | ||||
| Charitable activities |
(167,679) | (121,696) | (289,375) | |||
| Total expenditure | (219,862) | (121,696) | (341,558) | |||
| Net income/(expenditure) | 63,286 | (24,783) | 38,503 | |||
| Transfers between | funds | 694 | (694) | |||
| Net movement in funds |
63,980 | (25,477) | 38,503 | |||
| Reconciliation offunds | ||||||
| Total funds brought | forward | 1,466,454 | 3,239,942 | 4,706,396 | ||
| Total funds carried | forward | 1,530,434 | 3,214,465 | 4,744,899 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | f | f | |||
| Fixed assets | |||||
| Tangible assets | 15 | 4,514,477 | 4,559,501 | ||
| Current assets | |||||
| Stocks | 17 | 3,341 | 2,557 | ||
| Debtors | 18 | 4,266 | 24,641 | ||
| Cash at bank | and in | hand | 19 | 237,611 | 235,653 |
| 245,218 | 262,851 | ||||
| Creditors: Amounts | falling due within one year | 20 | (47,393) | (77,453) | |
| Net current | assets | 197,825 | 185,398 | ||
| Net assets | 4,712,302 | 4,744,899 | |||
| Funds ofthe | charity: | ||||
| Restricted income funds | |||||
| Restricted funds | 3,183,874 | 3,214,465 | |||
| Unrestricted | income | funds | |||
| Unrestricted | funds | 1,528,428 | 1,530,434 | ||
| Total funds | 4,712,302 | 4,744,899 |
| THE FUSILIERS MUSEUM AND LEAR STATEMENT OF CASH FLOWS YEAR ENDED 30SEPTEMBER2022 |
NING CENT | RE LIMI | TED | |
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | 6 | 6 | ||
| Cash flows from operating activities |
||||
| Net cash (expenditure)/income | (32,597) | 38,503 | ||
| Adjustments to cash flows from non-cash items |
||||
| Depreciation | 45,024 | 45,019 | ||
| Investment income |
(146) | (25) | ||
| 12,281 | 83,497 | |||
| Working capital adjustments | ||||
| (Increase)/decrease in stocks |
17 | (784) | 21,995 | |
| Decrease/(increase) in debtors |
18 | 20,375 | (6,674) | |
| (Decrease)/increase in creditors |
20 | (30,060) | 10,581 | |
| Net cash flows from operating activities |
1,812 | 109,399 | ||
| Cash flows from investing activities | ||||
| Interest receivable and similar income |
146 | 25 | ||
| Net increase in cash and cash equivalents |
1,958 | 109,424 | ||
| Cash and cash equivalents at 1October |
235,653 | 126,229 | ||
| Cash and cash equivalents at 30September |
237,611 | 235,653 | ||
| Reconciliation ofnet cash flow to movement | in net funds | |||
| Increase in cash |
1,958 | 109,424 | ||
| Net funds at 1October 2021 | 235,653 | 126,229 | ||
| Net funds at 30September 2022 | 237,611 | 235,653 |
| 3 Income fro |
m | donations and legacies |
|||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Restricted | Total | |||
| General | funds | funds | |||
| E | E | E | |||
| Donations and |
legacies; | ||||
| Sponsorship | 1,400 | 1,400 | |||
| Donations from | companies, trusts and similar | ||||
| proceeds | 10,481 | 10,481 | |||
| Grants, including |
capital grants; | ||||
| Government | grants | 112 | 112 | ||
| Grants receivable | 122,850 | 29,721 | 152,571 | ||
| Regular giving | and capital donations | 7,472 | 7,472 | ||
| Total for 2022 | 142,315 | 29,721 | 172,036 | ||
| Total for 2021 | 226,642 | 96,913 | 323,555 |
| nrestricted grants receivable |
|||
|---|---|---|---|
| Total | Total | ||
| General | 2022 | 2021 | |
| E | E | f | |
| Bury MBC | 66,804 | 66,804 | 116,879 |
| MOD | 37,546 | 37,546 | 36,908 |
| Arts Council England | 3,500 | 3,500 | |
| RRF (Tower of London) | 15,000 | 15,000 | 15,000 |
| 122,850 | 122,850 | 168,787 |
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| funds | |||||||
| Total | Total | ||||||
| General | 2022 | 2021 | |||||
| f | f | f | |||||
| Trading income; | |||||||
| Shop income | 11,092 | 11,092 | 2,484 | ||||
| Otherincome; | |||||||
| Admission income |
14,048 | 14,048 | 4,239 | ||||
| Corporate lettings |
39,097 | 39,097 | 42,549 | ||||
| Cafe income | 14,229 | 14,229 | 5,909 | ||||
| 78,466 | 78,466 | 55,181 | |||||
| 5 | Investment | income | |||||
| Unrestricted | |||||||
| funds | Total | ||||||
| General | funds | ||||||
| f | 6 | ||||||
| Interest receivable | and similar income; | ||||||
| Interest receivable | on bank deposits | 146 | 146 | ||||
| Total for 2022 | 146 | 146 | |||||
| Total for 2021 | 25 | 25 | |||||
| 6 | Other income | ||||||
| Unrestricted | |||||||
| Total | Total | ||||||
| General | 2022 | 2021 | |||||
| g | f | f | |||||
| Rental income | 1,300 | 1,300 | |||||
| Other income | 5,544 | 5,544 | 1,300 | ||||
| 6,844 | 6,844 | 1,300 |
| Unrestricted funds |
|||
|---|---|---|---|
| Total | Total | ||
| General | 2022f | 2021 | |
| Shop costs | 2,584 | 2,584 | 22,434 |
| Cafe costs | 23,250 | 23,250 | 26,413 |
| Event costs | 5,306 | 5,306 | 3,336 |
| 31,140 | 31,140 | 52,183 |
| 8 Expenditure on charitable ac |
tivities | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Restricted | Total | ||
| Note | General | fundsf | funds f |
|
| Staff costs | 81,629 | 3,000 | 84,629 | |
| Allocated support costs | 107,354 | 57,312 | 164,666 | |
| Governance costs |
9,654 | 9,654 | ||
| Total for 2022 | 198,637 | 60,312 | 258,949 | |
| Total for 2021 | 167,679 | 121,696 | 289,375 | |
| Activity | ||||
| undertaken | Governance | Total | ||
| directly E |
costs E |
expenditure f |
||
| Fusiliers Museum | 245,930 | 9,654 | 255,584 | |
| Total for 2021 | 281,631 | 7,744 | 289,375 |
| Governance costs | |||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | Total | |
| General | 2022 | 2021 | |
| E | E | f | |
| Audit fees | |||
| Audit ofthe financial statements | 3,500 | 3,500 | 2,950 |
| Other fees paid to auditors | 6,154 | 6,154 | 4,794 |
| 9,654 | 9,654 | 7,744 |
| 2022 | 2021 | ||
|---|---|---|---|
| f | f | ||
| Audit fees | 3,500 | 2,950 | |
| Other non-audit | services | 6,154 | 4,794 |
| Depreciation of | fixed assets | 45,024 | 45,019 |
| 12Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Staffcosts during the year were: | ||
| Wages and salaries | 102,285 | 102,113 |
| Social security costs | 1,836 | 2,436 |
| Pension costs | 1,670 | 1,484 |
| 105,791 | 106,033 |
| was as foll | ows: |
|---|---|
| 2022 | 2021 |
| No | No |
| Administrative | staff |
|---|---|
| Cafe staff |
| 13 Auditors' remuneration |
||
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Audit ofthe financial statements | 3,500 | 2,950 |
| Other fees to auditors | ||
| All other non-audit services |
6,154 | 4,794 |
| 15Tangible fixed assets | |||
|---|---|---|---|
| Equipment | |||
| Land and | furniture and |
||
| buildings | fixtures | Total | |
| f | E | ||
| Cost | |||
| At 1October 2021 | 5,174,407 | 174,235 | 5,348,642 |
| At 30September 2022 | 5,174,407 | 174,235 | 5,348,642 |
| Depreciation | |||
| At 1October 2021 | 624,958 | 164,183 | 789,141 |
| Charge forthe year | 41,400 | 3,624 | 45,024 |
| At 30September 2022 | 666,358 | 167,807 | 834,165 |
| Net book value | |||
| At 30September 2022 | 4,508,049 | 6,428 | 4,514,477 |
| At 30September 2021 | 4,549,449 | 10,052 | 4,559,501 |
| 17Stock | |||
|---|---|---|---|
| 2022 | 2021 | ||
| E | E | ||
| Shop stock | 1,625 | 954 | |
| Barstock | 1,716 | 1,084 | |
| Cafe stock | 519 | ||
| 3,341 | 2,557 |
| 18Debtors | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| f | f | |||
| Trade debtors | 1,101 | 14,485 | ||
| Prepayments | and accrued income | 2,782 | 9,187 | |
| Other debtors | 383 | 969 | ||
| 4,266 | 24,641 | |||
| 19Cash and cash equivalents | ||||
| 2022 | 2021 | |||
| f | f | |||
| Cash on hand | 300 | 784 | ||
| Cash at bank | 237,311 | 234,869 | ||
| 237,611 | 235,653 | |||
| 20 Creditors: | amounts | falling due within one year | ||
| 2022 | 2021 | |||
| f | f | |||
| Trade creditors | 17,730 | 52,837 | ||
| Other taxation | and social security | (511) | 666 | |
| Other creditors | 30,174 | 23,950 | ||
| 47,393 | 77,453 |
| 21 Funds | |||||||
|---|---|---|---|---|---|---|---|
| Balance | at 30 | ||||||
| Balance at 1 | Incoming | Resources | September | ||||
| October E |
2021 | resources E |
expended f |
2022 E |
|||
| Unrestricted funds |
|||||||
| General | 1,530,434 | 227,771 | (229,777) | 1,528,428 | |||
| Restricted funds | |||||||
| Development fund |
3,189,721 | (29,004) | 3,160,717 | ||||
| Booth Charities | 2,033 | (2,033) | |||||
| Collections Trust | 2,500 | 3,166 | (2,166) | 3,500 | |||
| Fusiliers Aid Society | 7,560 | (1,580) | 5,980 | ||||
| HLF Collecting Cultures | 1,549 | 1,549 | |||||
| EGartside Memorial | Painting | 150 | 150 | ||||
| AIM | 715 | (715) | |||||
| Arts Council England | 7,713 | 3,789 | (3,789) | 7,713 | |||
| University ofManchester | 945 | (456) | 489 | ||||
| National Heritage |
6,139 | 11,921 | (18,060) | ||||
| Fusiliers Collection | 3,000 | 3,000 | |||||
| Bury Art Gallery 5 Museum | 4,000 | (3,224) | 776 | ||||
| Total restricted funds | 3,214,465 | 29,721 | (60,312) | 3,183,874 | |||
| Total funds | 4,744,899 | 257,492 | (290,089) | 4,712,302 |
| FOR THE YEAR ENDED | 30SEPTEMB | ER2022 | |||
|---|---|---|---|---|---|
| Balance at | |||||
| Balance at | 30 | ||||
| 1October | Incoming | Resources | September | ||
| 2020 | resources | expended | Transfers | 2021 | |
| E | E | E | E | E | |
| Unrestricted funds |
|||||
| General | 1,466,454 | 283,148 | (219,862) | 694 | 1,530,434 |
| Restricted funds | |||||
| Development fund |
3,218,724 | (29,003) | 3,189,721 | ||
| Booths Charities | 4,033 | (2,000) | 2,033 | ||
| Collections Trust | 2,500 | 670 | (670) | 2,500 | |
| HLF Collecting Cultures | 4,874 | (3,325) | 1,549 | ||
| EGartside Memorial |
|||||
| Painting | 150 | 150 | |||
| HLF Tolkien Exhibition | 1231 | (873) | (358) | ||
| AIM | 8,430 | (7,715) | 715 | ||
| Arts Council England | 69,104 | (61,391) | 7,713 | ||
| University ofManchester |
1,200 | (255) | 945 | ||
| National Heritage |
23,505 | (17,366) | 6,139 | ||
| Victoria and Albert | |||||
| Museum | 307 | (641) | 334 | ||
| Fusiliers Collection | 3,000 | 3,000 | |||
| Total restricted funds | 3,239,942 | 96,913 | (121,696) | (694) | 3,214,465 |
| Total funds | 4,706,396 | 380,061 | (341,558) | 4,744,899 |
| Unrestricted | Total funds at | |||
|---|---|---|---|---|
| funds | Restricted | 30September | ||
| General | funds | 2022 | ||
| f | 6 | 6 | ||
| Tangible | fixed assets | 1,354,845 | 3,159,632 | 4,514,477 |
| Current | assets | 214,667 | 30,551 | 245,218 |
| Current | liabilities | (39,998) | (7,395) | (47,393) |
| Total net assets | 1,529,514 | 3,182,788 | 4,712,302 | |
| Unrestricted | Total funds at | |||
| funds | Restricted | 30September | ||
| General | funds | 2021 | ||
| f | f | f | ||
| Tangible | fixed assets | 1,370,865 | 3,188,636 | 4,559,501 |
| Current | assets | 237,022 | 25,829 | 262,851 |
| Current | liabilities | (77,453) | (77,453) | |
| Total net assets | 1,530,434 | 3,214,465 | 4,744,899 |