Company Number: 05874265 (England and Wales)
Charity Number: 1116204
Re
ort f heT
es
Unaudrted Financial Statements for the Year Ended 31 October 2023
Tel
nHèri
Llmit
Guarantee
Greenwood Accountancy Ltd
5 Pellew Arcade
Teignmouth
Devon
TQ14 8EB

Telgn Heritage
Report ofthe Trustee5
for the Year Ended 31 October 2023
The trustees who are a150 directors of the charityforthe purposes of the Companies Act 2006, present
their report with the financial statements of the tharity for the year ended 31 October 2023. The
trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparlnB their accounts in accordance with the
Financial Reporting Standard appllcable in the UK and Republicof Ireland IFRS 1021 (effective I january
20191.
CHAIR'S SUMMARY
The Trustees are pleased to present their annual report for the year to 31 October 2023.
Financlally speakinB. we are doin8 reasonably well, but we still need to plan for the future against ever
rlslng costs and threats to our in¢ome so as not to deplete our Ilmited reserves. Do please read on.
Rlchard Kln8* Chalr
OBJECTIVIES AND ACTIVITIES
ObJ•ctlves and aims
The charity's vision is Telling the Stories and keeping the memories of Teignmouth and Shaldon alive,
for the communities of Teignmouth and Shaldon. That is how we aim to carry out the formal oblett of
our Charity, whlch is the advancement of educatfjon in particular by..
l. promotlng interest lft the hlstory and herlta8e of Tei8nmouth, Shaldon and the surroundln8
distrirt I'the Area'l,.
maintaining and developlng the museum for the Arèa,. arid
a programme of lectures, displays, discussions and visits to extend knowled8e of the Area and
of history in a wide context.
Telgn Herltsge is a local museum. run entirely by volunteers. We have an education team whlch offers
lectures and themed visits for local schools. Our fully equipped Teign Room is available for school visits
and for hire to community 8roups and businesses where possible. Other facilitles include accessible
toilets, baby chan8ing facilihes. a lift and roof terrace and a retail offer. Our team of arthivists ￿spondS
to enqulrles. researches topics for articles to put online or in the Friendsjournal and also produces our
temporary exhibitions.
ACHIEVEMENT AND PERFORMANCE
Ackn¢xvledgement and thanks
The Trustees want to thank Lin Watson lour Curdtor {f0Mier￿ Senior ArchTViStI and a trustee) and
Malcolm Tipper lour Centre Manager) for the many hours they have given, unpaid, to the running of
the Museum. This is in addition to their roles as joint Outy Managers with Theresa Killoran. Geoff
Wood, Jo Hyde, JennyJame5 and ournewassistantcentre Manager. Karen Evans-a vital role forwhich
we thank them all.
Pagell

Telgn Herltage
Report of the Trustees
lor the Year Ended 31 October 2023
All the Trustees play their part but, as noted below. lan Mitchell has also given up a great deal of time
to the buildings and compliance side, while Barrie Dennett has contributed on HR and other matters
including early work on the accounts before handing them over to new TrL￿ee Beverley Knowles who
has been largely responsible for bringing these accourrts to public view. We now have a better
understanding of how we are doing. both in our work as a charity and in the 'busines5' side that pays
for that work.
Early in the year Malcolm was confirmed as Centre Mana8er. He and the Trustees have continued to
strengthen the management team, as will appear.
The continued success of Telgn Heritage
despite inevitable lunding challen8es
Is due to the
dedlcated work of our many volunteers including archivists. stewards and the education team. We are
very grateful for the contributtons of the Museum Management Committee, now chaired by Malcolm.
including Rachel Aucott and Rosemary Booth IArchNesl, Karen Evans (Assistant Centre Mana8erl,
Theresa Killoran (Office Manager and membership se¢￿tary1,. Ruth Cole (former T￿aSurer), Jayne
Adames (Volunteer Coordinator), Jenny James IRetaill, Christina Siviter Icompiler of SO years storlesl,
Geoff Wood Iwebmasterl, Eileen Simpson IEducatr"onl and Rosle Walden lfront of house). Since the
vear end we have had specialist advice from Dr Chris Davies who is now a trustee. We should also
mention Geoffrey Davis who edits our twice-year￿ Joumal, but there are many others who do
important work in the background.
8uSldlnis management and eomplS•n<•
With a bulldin8 that Is, Sn current forni, over 12 years old. it Is On￿ to be expected that some renewal
Is needed. The exterior of the newer parts needs cleaning If not repalnting a8ain and the old Georglan
part needs to be tackled when funds allow.
lan's considerable experience of buildin8s mana8ement and regulatory compllance remain5
Invaluable. He has overseen a lot of work or carried it out himself with others, particularly to try to
resolve the leaks to the modern flat roof and stsir tower which have plagued us during heavy storms.
Early in the financlal year, we abandoned the'coffee hub, that had not glven us the hoped-for benefi'ts
and used the space to enhance our retail a￿a. We have a150 been upgrading our hardware and
operattn8 Systems which were considered elderly and vulnerable.
Member5hlp, footfall and charges
At the end of the year, the number of members was 3￿ paid-up (with several others yel to pay in full
owing to an increase from l.11.20231. and recruitment has continued. The very modest subscription
for membership of the charity Inow increased to £181 entitles subscribersto visit the Museum as many
tfimes as they wish during the year, saving them £5 per visit, and also to use the extensive arthive for
rèsèarch_ They also receive the Frlends, Journal twice a year and eight free lectures.
Before the lockdown took effect in March 2020. the Trustees had decided to open for longer durlng
the winter months, and early 518ns were encouraging. The pandemi¢ severely affected the number of
visiiofs that might have been expected when we finally reopened in June 2021. That number has
increased significantly to 3449 12021122: 3.0211. but still less than before the pandèmic. Overall
Page12

Teign Heritage
Report of the Trustees
for the Year Ended 31 October 2023
footfall including schoo15, classes and events is up on the previous year188831 but still much less than
the I4.c￿-0dd numbers pre-pandemic. in part because Teign Room bookings have not yet fijlly
recovered. School visits picked up desplte the ongoing effects of the pandemic and funding shortages,
and there has been excellent feedback from those who have visited.
In July 2023 we had the annual meetin8 of the Friends of Teignmouth & Shaldon Museum. to explain
what the Trustees had achieved after things began to return to normal.
Exhibltions, lertures, hlstory walks and other local events
We held exhlbitions on Regency Tei8nmouth, the hlstory of Higher Brook Street (just along from the
Museum) and Black History in Devon. We have enjoyed talks from.. Neil Howell on past local
photographers.. Elleen Simpson on the Anglo-saxon language and on What was on the land where
your house now stands?" Dr Chris Oavies on 'The sea, the sea", "Pitturesque Views of Devon and
Cornwall" (JMW Turner) and "The Arts in Regency Tei8nmouth I790.183￿.. Dr Martin Read on "Sir
Edward Pellew and the Wreck of the Dutton" Or ￿an Williams on "Pandemics of the Past, Including
the Black Death. Malk this way" about leylines. Jo Hyde on "A Hlstory of lace-makrng and Shaldon
Lace School" Dr Todd Gray on Slavery and Emanclpation in Devon. We have also delivered varlous
outreach talks to groups away from the Museum, including the Wl, U3A and RNLI.
We hosted the SW Maritime Assoclatlon AGM and study day at the Museum as well as vlslts by historv
roups from Tei8nmouth and beyond and from the Torbay Royal Yacht Club. We were glad to arrange
another short season of hlstory walks with Bob Blewitt, and vlslts for volunteers to places of historical
interest in Devon. We also gave tslks to the residents of local care homes. Owlng to a personnel
change, we were not able to continue the serTres of 'Tei8ny finies. workshops for the very young, wlth
their parents.
We continue to work with local charities the Pavilion5. TAAG ITeignmouth Arts Action Group). The Allce
Cross Community Centre and Teignmouth tibrary on the Teignmouth Together Project.
We continue to run heritage open days at the Museum. In 2023, we again hosted part of the Telgn
Shanty Festival to encourage a¢¢ess to the Museum and received a very welcome donadon as a result.
Since the yearwend, we have been planning exhlblfjons for Teignmouth Ru8by Club 150 anniversary
and Teignmouth RNLI 200, anniversary and giving assistsnce to Teignmouth Golf Club in connection
with its Centenary.
Gifts and developments at ihe Mu￿um
Some items from 3 legary from Mrs Brenda Baker (nee Seymour) could not be accommodated at the
Museum leven if we had space). since they had no apparent connection with Teignmouth or Shaldon.
As they were not part of our Collertlon. the Trustees agreed to sell the items at auetlon, raising a
goodly sum towards the acquisition at authon - and conserwation - of some handmade 'Shaldon late,,
over a century old, together wkth some slightly tetchy correspondente relating to the lace used in the
Coronation robe o* Queen Mary when her husband King George V was crowned in 1911. We are
grateful to our former MP Richard Younger-Ross lor alerting us to the sale and for his contribution
PaEe13

Teign Herltage
Report ofthe Try￿ee$
lor the Year Ended 31 Ortober 2023
towards the cost alongside contributions from Cllr David Cox from his Teignmouth Community Fund
and from Shaldon Parish Council. The Shaldon lace has been on display in the Museum.
We were a150 pleased to receive a small painting by Thomas Luny, entitled Island of ischia, painted In
1796 and the book by Jane Shaddick about her 8randfrdther. the ship builder Frank Mor8an Giles.
Planning meetings are held with arehivists and other volunteers. some of whom continue to work
motely. Every new steward ￿ceIVeS The Volunteers, Handbook and a welcome pack 1$ Biven to new
volunteers. Young Volunteers are 5tron8ly encournged. as are work experience students- in that
context, safeguarding remaln5 a prloflty- Amng our efforts to recruit more volunteers we have also
been very pleased to accept work experience applicatlons and a third Exeter Universlty Professional
Pathways Intern in the summer and we continue to develop our contacts the￿.
Publlc benefft
The Trustees have had regard to the Charlty Commission's 8eneral guidance on public benefit,
particularly when revlewlng our aims and object5ves and planning future events. They are satisfied
that the charity's activities listed above do bring significant benefit to the public in terms of education
and conservation, without detriment or untoward private benefit.
Forward Plannln8
The Trustees revlewed thelr seven-point s.year Plan from 2017118, which covered the main areas of
Educatfon, Communlty Partlclpatlon. Finance, Personnel, the Collection, the Building and Systems
Mana8ement. They have now adopted new Objecrlves and Targets in its pla￿.
Talk of a much-needed new secOnd-fl¢￿r gallery remalfts on hold whlle we lack suffi'cient resource5-
both financial and personal- to build and manage IL
We are a150 planning for the expected invitatSon to renew our accreditstion. posslbly late In 2024.
FINANCIAL REVIEW
Summary
The finances have been Managed by a treasury team previously led by Barrte Dennett ITrusteel, with
Ruth ITreasurerl Theresa {Office Manager) and Malcolm as Centre Manager. BaTrie was instrumental
in simplifying our management accounts but half way through the year he handed over responsibility
to new Trustee Bevèrlèy Knowles who has brou8ht herac¢ountin8 experttse to improvin8 our declslon-
makin8.
The accounts show that income for the year was £54.75512022.. £37,683) and expenditure £59,041
{2022.' £3S,4201, 8ivin8 3 deficit of just £4,28612022= £2.263 surplu51. This was not as good as we had
forecast.
The biggest change was in donation income which rose from £4,732 to £27,202. However this was
mainly due to restricted gifts which haveto be, and were, spent forthe specified purpose. Hence there
was a correspondinB increase in our expenditure. And we Suffered from a major fall in grant income
as explained below. Shop sales and fund-raising inwme was down a little. but income from admissions,
Page14

Telgn Herltaee
Report of the Trustees
for the Year Ended 31 October 2023
rentals and education was slightly higher than in the previous year. There was a welcome increase in
subscription income and also in fees for research.
It is clear that we need to find new rÈvenue streams if we are to avoid losses, let alone expand our
operations.
2016-17
2017-18
2018-19
2019-20
2020-21
2021.22
2022.23
20Z3-24
Income
£32536
E39Cfj4
E41860
£33722
£119164
£37683
£54755
£37085
Expenditure
£30605
£37554
£49898
£49569
£93247
£35420
£59041
£36315
Surplusl
(Deficit)
£1931
£isio
1£80381
IE15847)
£25917
£2263
(£42861
£770
The Trustees are satlsfied that, both at the year-end and at the date of writing thls report, the charity
was and Is a goin8 coneem. The 2023-24 fi.gures are projected.
Grnnts and fundlng
We remain very grateful lor the ongoing though small support from Shaldon Par15h Council. For several
year5 we enjoyed a valuable annual grant from Teignmouth Town Council. but this is no longer
guaranteed and has not been forthcomin8 for two years. Tel8nbrid8e Distrlct Council no longer
supports the SW Development Fund so we are no longer eli8ible to apply to that. But we have been
very pleased to receive donations from 5everJl Councillors out of their communlty funds towards
number of projects.
Malcolm TSpper had partlcular success in securing a grant of £9000, under the New Audiences New
Stories scheme. to work with Teignmouth Rugby Club as it prepared to celebrate its 150 anniversary
in 2024. Lin Watson was also successful In securing a grant of £8,350 from Historic England for digttisin8
the Church Rocks Wreck research documents and photos. It has also funded the creation of a new
video about the dlstovery of the wreck for a new interacttve display In the Sea Gallery. We contSnue
to pursue other grants to carry OLrt improvements to the Museum.
Investment Pollry
Apart from retslning a prudent amount in reserves each year as explained below, most of the charitVs
funds are to be spent in the short term so there are few funds available for long temi investment. We
have a modest Amount invested in COIF Charits"es Investment Fund. run by CCLA. This investment is
regularly reviewed, but the Trustees consider it to be a long-terni irwestment and are reluctant to be
swayed by inevitable volatility in st¢)ck market perftjrmance. especialty in the current polits.cal and
world situation.
PaBelS

Telgn Herltage
Report of the Trustees
for the Year Ended 31 Ortober 2023
Reserves Pollcy
A fomial policy on reseNe$ agreed by the Trustees aims to have the following fvnds held in reserve..
working capital112 monthg turnover)
reserve for future matched funding in grdnt applications
essential improvements to buildinB including'La Terrasse. (top floor g4lleryl
redundancy and other costs in event of forced closure
£30,1)C#)
£io.000
£32.(X)O
£io,())o
Thanks to the broadly improved financial position in the last three year5, we are ahead of our reserves
target, with total free lunrestrictedl investments and cash at £111,5C(J. But, although redundancy
costs are not an issue, at least for the foreseeable future, a further review is likely to Show that thls
tar8et is not 3mbits.ous enough, in the 148ht of expenditure alre?dy in the pipeline and further
Inforniation rèceived In regard to the cost of buildin8 the top floor gallery.
FLTfuRE PLANS
Looklni ahead
Work continues on uPda￿n$ our policies and procedures in line with the requirements for the
Accreditation Standard from Arts Council England. But we a￿ not expecting to have to appfy to renew
our accreditation until late 2024 at the earliest. We have appointed èn Accreditation Mentor to a$515t
wlth our application when the ts'me comes.
The 'La Terrasse, projert, to develop out the top floor of the Museum to provide additional space,
malns on hold unt515ufficient resources- in terms of both funds and sktlled personnel- can be found.
Meantlme we hope to redecorate the exterior of the older parts of the Museum, followin8 the
successful repaSndng of the modem 'Annexe' win8.
We are looking to recruit more volunteers. including Trustees. with the necessary skills in education.
fi'nance and 50clal media. We also hope to appoint three more Management Committee members to
represent the Front of House Volunteers, the Education/Non-Assi8ned volunteers and the Archivists
team.
STRUCTURÉ, GOVERNANCE AND MANAGEMENT
StNrtur•
Teign Herltage is a charitable company limited by guarantee. incorporated on 12 July 2006 and
registered as a charity on 25 September 2W6. As a charity. it was able to dispense with the word
'Limited' In its name.
The company was established under a Memorandum and Arhcles of Association which set out the
objects and powers of the charity and how it is governed. In the event of it5 being wound up, its
members (who are also the Trustees) are required to contribute an amount not exceeding £10.
Page16

Teign Heritage
Report of the Trustee5
for the Year Ended 31 October 2023
The directors are also the charity trustee5 for the purpose of charity 13w, so under the company's
Articles they are described as Trustees. They are elerted to serve for a period of three years, after
which they can be re-elected (by the Trustees themselves, in their capacity as the company members)
at the next AGM up to a maximum of three consecutive terms. The Articles adopted in December 2019
permit a trustee to continue in office for up to three further periods of one year if the other members
unanimously consider it to be in the charity's interests for the trustee's maximum nine years, service
to be extended.
Govemance
The Trustees- who include the Curator- are supported by a Management Committee which considers
matters concerning the day-to-day management ofthe Museum, includin8 the education programme,
events and retail sale5. The Management Committee also asslsts with recruitment and supervision of
volunteer stewards and archivists who are essential to the fvnth"oning of the Museum.
Trustees land indeed volunteers) have traditionally been reuulted by word of mouth among local
people known to be Interested in herttage matters. Limited external advertising has been carried out
but thi5 may need to be stepped up.
Currently there is no ftsrmal Inductlon process for Trustees as the trustee inductlon pack Is sttll under
review as we prepare for the expected re-attreditatr'on. Meantime their attention is drawn to our
pollcles and procedures and to the Charity Commission's CC3 guidance 'the Essential Trustee.. what
you need to know, and to available seminar5 and workshops. The Curator land occaslonally other
Trusteesl attend Museum-￿1ated meetin8$ such as the Tel8nbrid8e and Devon Museums Groups and
RPRP, the Rural Proofing Resilience programme developed by South West Museums Development.
All Tnjstees give their time voluntarity and received no benefits from the charity- They may clalm
expenses but in practice none of them does other than for necessary visits by our Curator.
Trust••s and Pers¢nnel
The responsibillty for mana8in8 the Museum and the wider charlty rests with the Trustees, supported
by our Centre Manager, Treasurer, Office and Retail Mana8ers and other members of the MMC as we
have explained above. We are very 8rateful to them and of course to all our steward5 and volunteer5
without whom the Museum could not fvnth"on. We still need more volunteer5 to carry out the many
tasks that are needed to make the Museum work.
Slnce the year.end Chr15 Davies. an art historian who has been involved in several talks and exhIbl￿on$
at the Museum, has joined the trustee body.
Risk Management
In addition to ongoing risk assessments in regard to V151tors, hi￿r5 and school visits, the Trustees
annually assess the major risks to which the charity as a whole is exposed, in particular those relating
to the operational areas of the charity and its finances, by •den￿fy1ngaThd ranking risks in term5 of their
potential impact and likelihood. Thè Trustees have reviewed those risks and taken such steps to
mitigate them as they are able. The Trustees have been careful to assess the consequences of the
pandemic for our charity when planning ahead.
Page17

Teign Heritsge
Report of the Trustees
for the Year Ended 31 October 2023
Related Parties
There are none.
REFERENCE AND ADMINISTRATIVE DEfAILS
RegIste￿d Company Number
05874265 IEn8land and Wales)
Reglstered Charlty Nurn￿r
1116204
Registered Offlce
29 French street
Tei8nmouth
Devon TQ14 85T
Trustqes
J A Evan5 {resigned 22 May 20231
Mr5 L C Watson (Curator)
A R G Kin8 (Chair of Trustees)
B Dennett
Dr C A Davies lappolnted Iyh March 20241
l F Mitchell
Mrs B Knowle5 (appointed 22 May 20231
Independent Examlner
David Rudall FMAAT AFA
Greenwood Accountancy Ltd
5 Pellew Arcade
Teignmouth
Devon TQ14 8EB
Solicltors
Tozers LLP
Broadwalk House
Southernhay West
Exeter EXI IUA
Page18

Telgn Heritage
Report of the Trustees
for the Year Ended 31 Ortober 2023
REFERENCE AND ADMINISTRAnVE DETAILS (continued)
Bank
Uoyds 8ank pl¢
19-20 Wellin8ton Street
Teignmouth
Devon TQ14 8HW
Trea5urer- R Cole Iresigned 17, November 20231
Curator- Lin Watson
Centre Manager- M Tipper
Management Committee
Malcolm Tipper (Chairl
Jayne Adames
Rachel Aucott
Rosemary Booth
Ruth Cole Iresigned Nov 20231
Karen Évans
Jenny James
Theresa Killornn
Eileen Simpson
Christlna Siviter
Rosie Walden
Lin Watson
Geoff Wood
Richard King (Chalr of Trustees) also attends
Approved by order of the board of trustees on IS July 2024 and 5i8ned on its behalf bv..
stee
Page19

Teign Heritage
Statement of Finandal Activittes
for the Year Ended 31 October 2023
Indepèndent examlnerfs report to the trustees ofTelgn Herita8e I'the Compan¥'l
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 October 2023.
Responslbllltles and ba$ls of report
As the charlty's trustees of the Company land also its directors for the purposes of company lawl you
are responsible for the preparation of the accounts In accordance wrth the requirements of the
Companies Act 20061'the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be audited under Part
16 of the 2006 Att and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under Section 145 of the Charities Act 20111'the 2011 Act'l.
In carryin8 Out my examinat6on I have followed the Directions given by the Charity Commission under
Section 145151 Ibl of the 2011 Act.
Independent Examlnerfs Ststement
I have completed my examination. I confirm that no matters have come to my attention in connection
wlth the examination Biving me cause to belleve:
l. Accounting record5 were not kept In respert of the Compary as required by Sectlon 386 of the
2006 Act,. or
2. The accounts do not accord with those records; or
3. The a¢counts do not comply wlth the a¢￿￿nting requirements of seC￿On 396 of the 2006 Art
other than any requirement that the accounts 8ive a true and fair ￿ew, which is not a matter
considered a5 part of an independent examina￿on' or
4. The accounts have not ben prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by Charl￿eS (applicable to
charities preparing their accounts in accordance with the Financia.. Reportin8 Standard
applicable in the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come across no other matters In connectton with the examination to
which attention Should be drawn In this report in order to enable a proper understanding of the
actounts to be ￿aChed.
David Rudall FMAAT AFA
Greenwoods Accountancy Ltd
5 Pellew Arcade
Teignmouth
Devon TQ14 8EB
15 July 2024
Page 110

Telgn Herltage
Ststement of Flnancial Activlties
for the Year Ended 31 Ort¢ber 2023
Total Funds
31.10.23
Total
31.10.Z2
Funds
Funds
Not•5
INCOME AND ENDOWMENTS FROM
Donation$ and legacies
2556
26,C84
28,651
12,726
Charltablg a¢lfv￿es
General
20,740
20,740
19.1x18
Other trading artivrlies
5.159
5.159
S.949
Investment Incorne
207
207
Total IrKomÈ •nd end(￿ments
28.662
26.1)y
54,756
37.683
EXPENDITURE ON
Raislng lund5
4.417
4.417
Chath•ble Ktl¥ltles
- General
25.550
29.074
54,624
31,612
Tol•l •xpendlture
29,967
29.074
S9.041
35,420
Netgaln on Investments
1.034
1,034
5.259
Nrr INCOMEIIEXPENDfwREI
12721
12,9801
13,2521
7,522
Tr•rthrn between lundl
N•t movem•nt Inlunds
12721
12,9801
13,2521
7,522
RECONCrUAf￿N OF FUNDS
Total fvnds brou8htlorward
120.345
819,732
940,078
932,S55
TOTAL FUNDS C4RRIED FORWARD
120.073
816,753
936,826
940.077
The notes fomi part of these financial statements
Poge | 11

Telgn HerltaEe
Balan¢e Sheet
As at 31 October 2023
Total Furtth
3LIO.23
Total ￿Jnd$
31.10.22
Funds
Funds
AXED ASSErs
Tangible assets
Investments
424
69.051
4.1
4.540
69,051
873.$91
813,856
68.017
881,873
69.475
4.116
CURRENT ASSETS
Stocks
Cash ￿ bank and in hand
3A197
42,409
3.097
60,138
3.097
55,107
17.729
45y
17.729
63.235
58.204
NET CURR£NfASSETS
114,981
821.845
936.826
940,077
TOTAL ASSETS LESSCURRENT UABILiriEs
114.981
821.845
936,826
940.077
NEfASSETS
114.981
821,84S
936.826
940,077
FUNDS
Unrestrlded fund5'.
- Generol fund
- Desi8nated fund- Annex D•v•lopment
and M4lntenance
88.073
88.345
32,m)
32,000
120,073
120.345
R•strltted lunds..
Restricted fund- Annex
- Restrkt•d fund- Acqulsltltyis
- Re5trKted fvJnd- Other5
Natl¢nal Lottery Herita8e FuThJ
- Arts Counal Recovery Fund
804,116
811.631
12,069
7,533
816.753
819,732
TOTAL FUN)5
936.826
940.077
The charitable company is entitled to exemption from audit under Sectlon 477 of the Companles Act
2C(16 for the year ended 31 October 2023.
The members have not required the company to obtain an audit of itsfinancial statements for the year
ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page | 12

Telgn Herftsge
Balance Sheet- continued
As at 31 October 2023
The trustees acknowledge their responsibiliDes for:
lal ensurinE that the charitsble company keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2006 and
Ibl preparingfin3nual statements which give a true and fair viewof the state of affairs of the charitsble
company as at the end of each financial year and of rts surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Art 2006 relatr.ng to financial statements, so far as applicable to the
charitable company.
These financial statements have been prepared In accordance with the provlsions appllcable to
charitable tompanies subjert to the small companies re8ime.
The financlal statements were approved by the aoard of Trustees and authorlsed for Issue on 15, July
2024 and were signed on its behalf by..
A R G Kln8- Trustee
Page | 13

Telgn Heritsge
Notes to the Flnan¢lal Statements
For the Year Ended 31 October 2023
l. AccouKllNG POUCIES
Basis of preparlng the flnandal statements
The financial statements of the charitsble company, which is a public tenefit entfty under FRS 102,
have been prepared In aCCOTdance with the Charities SORP IFRS 1021'Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in
Ccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective l January 2019),, Financial Reporting Standard 102 The Financlal Reporting
Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial
statements have been prepared under the historical cost convention, with the exception of
Investments which are included at market value, as modifted by the revaluation of certain assets.
Infome
All income is reco8nised in the SLitement of FSnancial Activifjes once the charlty ha5 entitlement
to the funds, It is probable that the income wlll be received and the amount can be measured
reliably.
Expendlture
Liabilities are reco8nised as expenditure as soon as the￿ Is a legal or constrnctlve obligation
commithng the charity to that expendlture, It 15 probable that a transfer ot economlc benefits wlll
be required in settlement and the amount of the obligatson can be measured reliably. Expenditure
Is accounted for on an accruals basi5 and has been classified under headings that aB8regate all cost
related to the category. Where costs cannot be direttly attributed to particular headin85, they have
been allocated to activities on a basis conslstent with the use of resources.
Tan8lble 1Sx•d assets
Depreciatr'on Is provided at the following annual rdtes In order to wrlte off each asset over It5
estimated useful Ilfe.
Long leasehold- 2% on cost
Equipment- 20% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value. after making due allowance for
obsolete and slow-movirF8 Items.
Taxatlon
The charity is exempt from corporation tax on its charitable activtiies.
Fund ac¢ountlng
Unrestricted funds ¢an be used In accordance wtth the charitsble objectives at the discretion of
the trustees.
Restritted funds can only be used for particular restricted purposes wlthln the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for particular
restritted pltrposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
Statements.
Page114

Teign Herltaee
Notes to the Financial Ststements- contlnued
For the Year Ended 31 Oct*)ber 2023
2. OTHER TrADING AcnvmES
31.10.23 31.10.22
Fundraising events
Sales of purchased 8oods
636
4,523
1,089
4,860
5,159
5,949
3. INVESTMENT INCOME
31.10.23 31.10.22
Deposit account Snterest
207
4. NeT INCOME IIEXPENDITUREI
Net income I lexpenditurel 15 Stated after char8ing / Icredlt5n81..
31.10.23 31.10.22
Depreciation- owned assets
9,764
8.257
5. TRUSTEES. REMUNERAnoN AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 October 2023 nor
for the year ended 31 October 2022.
Trustee￿ expenses
There were no trustees, expenses paid for the yeaf ended 31 Ociober 2023 nor for the year ended
31 October 2022, except for two trustees who. as Curator and Archivist, have the main
responsibility for the Museum. As such they are reimbursed expenses for travel and parking for
attending Devonnei8nbridge Museum Group mee￿ngS and training days.
Pa8e | 15

Telgn Herftage
Notes to the Financial Statements- contlnued
For the Year Ended 31 October 2023
6. TANGIBLE FIXED ASSETS
leasehold
Equlpment
Total
co
At l November 2022
Additions
At 31 October 2023
90L805
10,798
449
11.247
912,603
449
913,052
901,805
DEPRECIATION
At l November 2022
Charge foryear
At 31 Ortober 2023
90.174
7.515
97.689
8.573
2,249
10,822
98,747
9.764
108,511
NÈT BOOK VALUE
At 31 Ottober 2023
8Cbl,116
424
804540
At 31 October 2022
811,631
2.225
813,856
7. FIXED ASSET INVESTMEKrs
Listed
Investments
MARKETVALUE
At l November 2022
Revaluations
At 31 Ortober 2023
68,017
1,034
69,051
NEf BOOK VALUE
At 31 October 2023
69,051
At 31 October 2022
68,017
There were no investment assets outside the UK.
Cost or valuation at 31 October 2023 is represented by..
Listed
investments
Valuation in 2023
Cost- 306.87 units
1.034
68,017
69,051
Page | 16

TelEn Herltage
Notes to the Flnandal Ststements- Contlnued
For the Year Ended 31 (ktober 2023
8. STOCKS
31.10.23 31.10.22
Stocks
3,097
3.097
9. mOVEmE￿IN FUNDS
Tfin5fqrs
betwetn
funds
At 1.11.22
nwjvernent In
lun
At 31.10.23
VnreMrkt¢d lynd¥
General fund
- Designated fvnd. Annex DeveloFffi•
and Maint•nan¢•
88,345
12721
88,073
32,0
32.000
120.345
12721
120.073
Restrlrted funds:
- RestrScted fund- Annex
811.631
17.5151
804,116
Restrlrted fund- Acqu6$￿10nS
- Restrfcted fuThd- Others
. NatioThal Lottery Heritage Fund
- Arts Council Recovery Fund
568
12,069
7.533
4,535
819.732
12,9801
816,753
TOTAL FUND5
940,077
13.2521
936,826
Net mwem•nt In funds
Net movemeni In lund5, Induded in thè above are as follows..
Incamin8
Galn$ and
105ses
Movement In
funds
Unrestr￿ed funds
- General fund
28,661
129.%71
1.034
12721
Rest￿(tedlUndS.
Restritted fund- Annex
Restricted fund- Others
17,5151
21.5591
129.0741
17,5151
4,535
26,094
26,094
12,9801
TOTAL FUNDS
54,755
159,0411
1.033.FA)
13.2521
Page117

Teign Herltsge
Notes to the Flnandal Statements- continued
For the Year Ended 31 Ortober 2023
MOVEMENT IN FUNDS- continued
Comparaljves for mwement in funds:
Net
movement In
lunds
Transfers
b•tw*e
fvnds
At 1.1121
At 31.10.22
Unrestrlcttd lund5
General fund
- Oes18nated fund- Annex Development
and Maintenance
59.365
IIS04
16.476
88,345
32,OC4)
32,(N)O
91J65
12.504
16.476
120,345
RUtr1¢t￿ funds..
- Restricted fund- Annex
819.146
17.5151
811,631
- Restrlcted fund- Acquisitlons
Restriffled fund- Othe
- Natlonal Lottèry Herltw Fund
- Arts Councll R￿0very Fund
S.776
10,6C
5.IC(I
2.533
17761
110,6fy)1
15,1(X)I
116,4761
7,533
841.190
14,9821
819,732
TOTAL FUNOS
932,555
7,522
940.077
Net movernent In lunds. included in the abovt are as follows..
In¢omln8
Resour￿5
e¥pended
Galns and
Movement In
funds
Unrestrlcttd funds
- General fund
34.176
(26,9311
5,259
12,504
Restrirted lunds:
- Re5tritted fund- Annex
- Restrirted fund- Others
17.5151
9741
18.4891
17,5151
2,533
3.507
3.507
14,9821
TOTAL FUNDS
37.683
135.4201
5.259
7.522
Pa8e118

Teign Heritage
Notes to the Financlal Statements- continued
For the Year Ended 31 October 2023
MOVEMENT IN FUNDS- contlnued
Oetsils of year end restrirted fund balan￿$ and where they are held:
TOTAL
Assets
Bank
Annex
Acqulsltlon5
Other..
Kin8 Family Trust
Building Maintenance
Teigny Tinies
NSNA Rugby Grant
Church Rocks Wreck
Tram Trail Boards
Summary
804,116
568
804.116
568
4,335
2.320
4,335
2.320
2,716
2,448
249
816,753
2,716
2,448
249
12,637
804.116
10. RELATED PARTY DISCLOSURES
There were no related party trdnsactlons for the year ended 31 October 2023 nor for the year
ended 31 October 2022.
Page119

Teign Herltage
Detailed Statement of Flnanclal Actlvittes
For the Year Ended 31 October 2023
INCOME ANDtNDOWMENrs
31.10.23
31.10.22
DonatJohs4nd l•#•d•#
Donatlons
27.202
1.374
4,732
1,494
Gtft ald
Grants
28,650
12,n6
Chrh•bl• *CllTAtI•s
Admlssltsns
Educatlonal actmiles
Rental IncomÈ- roorns
Research
other Incom•
Subs¢rlptlons
7.634
1.038
6.879
495
76
4,618
7,224
926
6.759
3,759
20,740
19.ts)8
oih•r tr•arw•cll¥ltl•s
Fundrgl$lng events
S•1• of pur¢h•sed yiods
836
1,089
5,159
5,949
Deposlt account Int¢r•sl
207
Trf•l
54755
Y7.683
EXPENDffURE
Ro151ry don•tlons •Thl l•yd•s
Reta51 stock
4,417
Ch•rlt•bl• idlvltl•s
Repairs and maintenan¢¢
Estobli5hment costs
Offite expefis
Other dSred costs
Grant spend on •vents
Lon8 leasehold
Depreclallon of equlpment
6,281
6,W5
6.211
5,216
21,245
7.515
2,249
5,027
1,449
7,515
742
53,797
30,837
00￿MInt￿ tosts
Accountancy ￿t$
827
775
Tatsl rn5ourrw •xp•nd•d
59P41
35.420
N•t Ineom• I l•xpnrKturnl
Thls page does notforni part of the slatirtoryfinandal statrmefits
Pa8e120