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|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|||||
|||||Chartered
Accountants|&Statutory||Auditor||
|||||Tower House|||||
|||||269Walmersley
Road|||||
|||||Bury|||||
|||||Lancashire|||||
|||||BL96NX|||||
|Bankers||||Barclays Bank Pic|||||
|||||1Central Street|||||
|||||The Rock|||||
|||||Bury|||||
|||||Lancashire|||||
|||||BL9OJN|||||
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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.
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|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|
##
##
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|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|
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|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|
##
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||||||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|
##