2021-01-31-accounts

Trustees		AAshburner
		MA Barker
		Councillor A Douglas
		Mr C Marshall
		G E Miller
		AM Nixon
		JA Pennie
		SESalter
		JStephenson
		S LStewart
		AJ Batey		(Appointed 26 May 2021)
		N Dick		(Appointed 18May 2021)
		DJ Haney		(Appointed 26 May 2021)
		J Howey		(Appointed 26 May 2021)
Secretary		H M Lynch
Charity number		1122366
Company	number	05751540
Registered	office	Regional Resource Centre
		Beamish
		County Durham
		DH9 ORG
Auditor		Azets Audit	Services
		Wynyard Park House
		Wynyard Avenue
		Wynyard
		Billingham
		TS22 5TB
Bankers		Natwest
		Sunderland	City Branch
		52 Fawcett	Street
		Sunderland
		SR1 1SB

		Page
Trustees report		1 - 26
Independent auditor's	report	27-29
Statement offinancial	activities	30-31
Balance sheet		32
Statement ofcash flows		33
Notes to the financial	statements	34 - 60

Unsecured Funding		Januar)t	Dfif903UI	ijlttfihlta22I2II
		2921	95K((
Trusts and Donations		E375,000	EO	E435,000
Private Donations	Including	EO	EO	EO
Friiends and BFOB
LA Funding		EO	EO	FO
ERDF		EO	EO	EO
HLF Kickstart Funding		EO	EO	E975,515
Total Unsecured Funding: (see note below)		E375,000	EO	E1,410,515
Total Funding income		E20,740,903	E1,316,029	E20,842,863

Current fiinancial year
				Unrestricted	Restricted	Total	Total
				funds	funds
				2021	2021	2021	2020
			Notes	6000	6000	6000	8000
Lnn;~me f m:
Donations and legacies				23	7,490	7,513	921
Charitable activities				2,190		2,190	7,009
Other trading activities				1,372		1,372	4,565
Total income				3,585	7,490	11,075	12,495
gEQttttt@KOJini
Raising funds				396		396	1,714
Charitable activities			7	4,396	5,935	10,331	11,494
Total resources expended				4,792	5,935	10,727	13,208
Net (expenditure)/income	for	the yearl
Net (outgoing)/incoming	resources			(1,207)	1,555	348	(713)
Other recognised gains	and losses
Actuarial loss on defi'ned	benefit pension schemes			(252)		(252)	(4,205)
Net movement in funds				(1,459)	1,555	96	(4,918)
Fund balances at 1 February 2020				16,771	12,779	29,550	34,468
Fund balances at 31January		2021		15,312	14,334	29,646	29,550

Prior financial year
			Unrestricted	Restricted	Total
			funds	funds
			2020	2020	2020
		Notes	6000	f000	f000
Ittggm61ttttn;
Donations and legacies			35	886	921
Charitable activities			7,009		7,009
Other trading activities			4,565		4,565
Total income			11,609	886	12,495
Raising funds			1,714		1,714
Charitable activities			11,135	359	11,494
Total resources expended			12,849	359	13,208
Net (expenditure)/income	for the year/
Net (outgoing)/incoming	resources		(1,240)	527	(713)
Other recognised gains	and losses
Actuarial loss on defined	benefit pension schemes		(4,205)		(4,205)
Net movement in funds			(5,445)	527	(4,918)
Fund balances at 1 February 2019			22,216	12,252	34,468
Fund balances at 31January 2020			16,771	12,779	29,550

				2021	2020	2021	2020
				Group	Group	Charity	Charity
				f000	8000	FOOO	8000
Fixed assets
Intangible assets			12	13		13
Tangible assets			13	16,557	16,114	16,557	16,114
Heritage assets			14	12,886	13,288	12,886	13,288
				29,456	29,402	29,456	29,402
Current assets
Stocks			15	218	234	26	33
Debtors			16	8,833	8,392	8,979	8,535
Cash at bank and
in hand				893	93	888	93
				9,944	8,719	9,893	8,661
Creditors:	amounts	falling
due within	one year		17	(541)	(1,290)	(490)	(1,232)
Net current	assets			9,403	7,429	9,403	7,429
Total assets less current liabilities				38,859	36,831	38,859	36,831
Creditors:	amounts	falling
due after more than		one
year			18	(907)	(195)	(907)	(195)
Provisions	for liabilities		20	(8,306)	(7,086)	(8,306)	(7,086)
Net assets				29,646	29,550	29,646	29,550
Income funds
Restricted	funds		21	14,334	12,779	14,334	12,779
Unrestricted	funds		21	15,312	16,771	15,312	16,771
				29,646	29,550	29,646	29,550

					2021		2020
				Notes	8000	8000	8000	6000
Cash flows from operating		activities
Cash generated from operations				27		1,093		1,880
Investing activities
Purchase ofintangible assets					(20)
Purchase oftangible fixed assets					(776)		(3,392)
Net cash used in investing		activities				(796)		(3,392)
Financing activities
Repayment ofborrowings					750		(43)
Net cash generated from/(used			in)
financing activities						750		(43)
Net increase/(decrease)	in	cash	and	cash
equivalents						1,047		(1,555)
Cash and cash equivalents		at beginning		ofyear		(154)		1,401
Cash and cash equivalents		at end of		year		893		(154)
Relating to:
Cash at bank and in hand						893		93
Bank overdraiis included	in	creditors
payable within one year								(247)

	Unrestricted	Restrfcted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2021	2021	2021	2020	2020	2020
	EOOO	8000	8000	8000	F000	k000
Government agencies		1,838	1,838		428	428
Individual donors/trusts	23	32	55	35	73	108
Local Authorities		15	15		53	53
CJRS funding		3,855	3,855
Remaking Beamish
(HLF Funding)		975	975
Remaking Beamish
(Other Funding)		775	775		332	332
	23	7,490	7,513	35	886	921

Charitable	activities
		UnrestrictedUnrestricted
		funds	funds
		2021	2020
		6000	6000
Admissions	income	2,077	6,375
Sale ofguide books		18	57
Other income		95	577
		2,190	7,009

Unrestricted	Unrestricted
funds	funds
2021	2020
6000	6000
1,372	4,565

Unresbicted	Unrestricted
funds	funds
2021	2020
6000	6000
396	1,714

			Operation	Curatorial	Education	Engagement	Total	Total
			of Nluseum				2021	2020
			2021	2021	2021	2021
			5000	6000	6000	6000	6000	6000
Staffcosts			5,584	216	569	1,807	8,176	8,134
Depreciation and
impairment			468	37	43	193	741	816
Rent, rates and water			9			1	10	46
Insurance			85	9	8	93	195	148
Heat and	light		88	17	13	33	151	238
Repairs			94	15	20	80	209	484
Communications		and
computing			62	11		95	176	135
Motor and	travel		19	7			35	64
Printing, postage		and
stationary				3	5	15	25	42
Advertising				9	8	75	92	139
Sundries				40	40	141	832	830
Legal and	professional		36	3	3	20	62	37
Banking charges			32	6	5	61	104	103
Irrecoverable VAT			107	10	15		132	279
Bad debt	provision		3				3
			6,589	383	746	2,614	10,331	11,494
			6,589	383	746	2,614	10,331	11,494
Analysis	by fund
Unrestricted funds			1,005	383	691	2,318	4,396	11,135
Restricted	funds		5,584		55	296	5,935	359
			6,589	383	746	2,614	10,331	11,494

				Operation	Curatorial	Curatorial	Education	Engagement	Total
				ofMuseum					2020
				f000		f000	f000	6000	6000
	Staffcosts			5,050		221	581	2,282	8,134
	Depreciation and	impairment		463		43	41	269	816
	Rent, rates and water			33		3	3	7	46
	Insurance			77		9	8	54	148
	Heat and light			118		17	13	90	238
	Repairs			399		15	20	50	484
	Communications	and computing		66		11	8	50	135
	Motor and travel			32		7	9	16	64
	Printing, postage	and stationary		27		3	5	7	42
	Advertising					9	8	122	139
	Sundries					40	40	751	831
	Legal and professional			10		3	3	21	37
	Banking charges			60		6	5	32	103
	Irrecoverable VAT			150		10	15	104	279
				6,485		397	759	3,855	11,494
				6,485		397	759	3,854	11,494
	Analysis by fund
	Unrestricted funds			6,485		397	703	3,551	11,135
	Restricted funds						56	303	359
				6,485		397	759	3,854	11,494
8	Net movement in funds							2021	2020
								6000	EOOO
	hlet movement in	funds is	stated	aRer charging/(crediting)
	Fees payable to the company's			auditor for the audit	ofthe	company's
	financial statements							14	13
	Depreciation ofowned tangible			fixed assets				735	821
	Amortisation of intangible		assets					7

Employees	Employees
Number ofemployees
The average monthly	number ofemployees	during the year was:
			2021	2020
			Number	Number
Retail and catering			83	77
Charitable activities			248	347
Management			15	18
				442
Employment costs			2021	2020
			8000	8000
Wages and salaries			6,257	6,773
Social security costs			378	401
Other pension costs			1,541	960
			8,176	8,134

12	Intangible fixed assets	Intangible fixed assets
			f000
	Cost
	At 1 February	2020
	Additions		20
	At 31 January	2021	20
	Amorttsatton	and impairment
	At 1 February	2020
	Amortisation	oharged for the year
	At 31January	2021
	Canying amount
	At31 January	2021	13
	At 31 January	2020

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15	Stocks
							2021	2020	2021	2020
							f000	f000	f000	f000
							Group	Group	Charity	Charity
	Raw materials		and consumables				218	234	26	33
16	Debtors
							2021	2020	2021	2020
	Amounts falling due			within	one	year:	f000	f000	f000	f000
							Group	Group	Charity	Charity
	Trade debtors						15	50	12	50
	Amounts owed		by subsidiary		undertakings				225	152
	HLF grant debtor						7,951	7,604	7,951	7,604
	Other debtors						767	649	690	640
	Prepayments	and accrued income					100	89	100	89
							8,833	8,392	8,979	8,535
17	Creditors: amounts			falling due within one year
							2021	2020	2021	2020
						Notes	f000	f000	f000	f000
							Group	Group	Charity	Charity
	Bank overdraRs					19		247		247
	Other borrowings						81	43	81	43
	Other taxation		and social
	secunty						57	253	57	253
	Trade creditors						86	439	84	383
	Other creditors						192	53	148	51
	Accruals and	deferred		income			125	255	120	255
							541	1,290	490	1,232

19	Loans and overdrafts
		2021	2020	2021	2020
		5000	f000	5000	6000
		Group	Group	Charity	Charity
	Bank overdraRs		247		247
	Otherloans	988	238	988	238
		988	485	988	485
	Payable within one year	81	290	81	290
	Payable after one year	907	195	907	195

Key assumptio	ns
					2021	2020
						'%%d
Discount rate					1.6	1.7
Expected rate	ofincrease ofpensions		in payment		2.1	2.1
Expected rate	ofsalary increases				3.1	3.1
Revaluation ofpension accounts					2.1	2.1
Rate of inflation (CPI)					2.1	2.1
Mortality assumptions
The assumed	life expectations	on retirement		at age 65are:

The ass	umed life expectations on retirement at age	65are:
		2021	2020
		Years	Years
Retiring	today
- Males		21.9	21.8
- Females		23.6	23.5
Retiring	in 20 years
- Males		23.3	23.2
-Females		25.4	25.3

20	Retirement benefit schemes												(Continued)
	Amounts recognised in	the profit and			loss account:
												2021	2020
												8000	8000
	Current service cost											1,303	785
	Net interest on defined	benefit liability/(asset)										114	55
	Other costs and income											108	116
	Total costs											1,525	956
	Amounts taken to other	comprehensive				income:
												2021	2020
												f000	f000
	Actual return on scheme		assets									(519)	(934)
	Less: calculated interest	element										283	418
	Return on scheme assets		excluding		interest income							(236)	(516)
	Actuarial changes related		to obligations									491	4,721
	Movement in unfunded	obligations										(3)
	Total costs											252	4,205
	The amounts included		in the	balance			sheet	arising	from	the	charity's
	obligations in respect ofdefined benefit					plans are		as follows:
												2021	2020
												5000	f000
	Present value ofdeiined		benefit obligations									25,443	23,550
	Fair value of plan assets											(17,219)	(16,549)
	Deficit in scheme											8,224	7,001
	Present value of unfunded		obligations									82	85
	Total liability recognised											8,306	7,086

20	Retirement	benefit schemes		(Continued)
	Movements	in the present value ofdefined	benefit obligations:
				2021
				6000
	Liabilities at	1 February 2020		23,550
	Current service cost			1,303
	Past service	cost		108
	Benefits paid			(537)
	Contributions	from scheme members		131
	Actuarial gains and losses			491
	Interest cost			397
	At 31January 2021			25,443

					2021
					6000
Fair value of	assets at 1 February	2020			16,549
Interest income					283
Return on plan assets (excluding		amounts	induded	in net interest)	236
Benefits paid					(537)
Contributions	by the employer				557
Contributions	by scheme members				131
At 31 January	2021				17,219

The fair value of plan assets at the reporting period	end was as follows:
	2021	2020
	6000	6000
Equity instruments	13,225	12,776
Property	1,360	1,324
Cash	1,894	1,953
Other	740	496
	17,219	16,549

donations and grants Group	held on trust f	or specific purposes	:	:
			INovement		in funds
		Balance at	Incoming	Resources		Revaluations,	Balance at
		1 February 2020	resources	expended		gains and21	January 2021
						losses
		EOOO			6000	EOOO	8000
Restricted funds
Remaking Beamish		12,576	1,750				14,326
Arts Council - MPM Core Funding		195	1,838		(2,033)
Karl Doran Memorial	Fund	7
Educational funding			32		(32)
Local authority contributions			15		(15)
Sundry restricted funds
Job retention scheme			3,855		(3,855)
		12,779	7,490		(5,935)		14,334
Unrestricted funds
General reserve		23,857	3,585		(3,824)		23,618
Pension Reserve		(7,086)	-		(968)	(252)	(8,306)
		16,771	3,585		(4,792)	(252)	15,312
		29,550	11,075	(10,727)		(252)	29,646

Charity
						Movement	in funds
					Balance st	Incoming Resources		Revaluations,	Balance at
					1 February 2020	resources expended		gains snd01	January	2021
								losses
					6000	9000	6000	9000		6000
Restricted	funds
Remaking	Beamish				12,576	1,750			14,326
Arts Council		-	MPM Core Funding		195	1,838	(2,033)
Karl Dolan	Memorial			Fund	7
Educational		funding				32	(32)
Local authority			contributions			15	(15)
Sundry restricted funds
Job retention			scheme			3,192	(3,192)
					12,779	6,827	(5,272)		14,334
Unrestricted			funds
General reserve					23,857	2,356	(2,595)		23,618
Pension Reserve					(7,086)	-	(968)	(252)	(8,306)
					16,771	2,356	(3,563)	(252)	15,312
					29,550	9,183	(8,835)	(252)	29,646

Comparative	Comparative		information	information	in respect	ofthe preceding	period is as follows:	period is as follows:
Group
						Movement in funds
						Balance at	Incoming	Resources	Revaluations,	Balance	at 21
						1Fesruary2019	resources	expended	gains and	January	2020
									losses
						6000	6000	6000	6000		8000
Restricted	funds
Remaking	Beamish					12,244	332			12,576
Arts Council		-	MPM	Core Funding			429	(234)			195
Karl Doran	Memorial			Fund							7
Educational		funding					72	(72)
Local authority			contributions				53	(53)
Sundry restricted funds
						12,252	886	(359)		12,779
Unrestricted			funds
General reserve						24,529	11,609	(12,281)		23,857
Pension Reserve						(2,313)		(568)	(4,205)	(7,086)
						22,216	11,609	(12,849)	(4,205)	16,771
						34,468	12,495	(13,208)	(4,205)	29,550

Charity
						Ilovement In	funds
					Balance at	incoming	Resources	Revaluatlone,	Balance at 21
					1February 201$	reeourcee	expended	gains and	January 201$
								loseen
					5000	5000		6000	6000
Restricted		funds
Remaking	Beamish				12,244	332			12,576
Arts Council		- MPM		Core Funding		429	(234)		195
Karl Doran	Memorial			Fund					7
Educational		funding				72	(72)
Local authority contributions						53	(53)
Sundry restricted			funds
					12,252	886	(359)		12,779
Unrestricted		funds
General reserve					24,529	8,330	(9,002)		23,857
Pension Reserve					(2,313)		(568)	(4,205)	(7,086)
					22,216	8,330	(9,570)	(4,205)	16,771
					34,468	9,216	(9,929)	(4,205)	29,550

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					2021	2020
					f000	6000
Within one	year				54	64
Between two and five years					122	162
In over five	years				700	720
					876	946
Capital commitments					2021	2020
					6000	6000
At 31January 2021 the charity			had capital commitments	as follows:
Contracted	for but not provided		in the financial statements:
Acquisition	of property,	plant and equipment			305

Details ofthe charity's sub	Details ofthe charity's sub	sidiaries at	31January 2021 are as fo	llows:
Name ofundertaking		Registered	Nature ofbusiness	Class of	% Held
		oflice		shares	Direct	indirect
				held
Beamish Museum	Trading	United	Trading company	Ordinary	100.00
Limited		Kingdom		shares

				2021	2020
				6000	6000
Turnover				2,034	4,565
Cost ofsales				(539)	(2,656)
Gross profit				1,495	1,909
Administrative	expenses			(1,495)	(1,909)
The aggregate	ofthe	assets, liabilities and funds was:
				6
Assets				100	100
Liabilities				(100)	(100)
Funds (representing		100ordinary	shares ofF1 each)

27	Cash generated from		operations		2021	2020
					6000	6000
	Surplus/(deficit) for the		year		348	(713)
	Adjustments for:
	Depreciation and impairment oftangible fixed assets				741	816
	Difference between pension charge and cash contributions				971	656
	Movements in working		capital:
	Decrease/(increase) in		stocks		16	(75)
	(Increase)/decrease in		debtors		(441)	917
	(Decrease)/increase in		creditors		(624)	282
	Cash generated from		operations		1,011	1,883
	Difference				82	(3)
	Per cash flow statement		page		1,093	1,880
28	Analysis ofchanges	in net (debt)/funds
				At 1February 2s2e	cash saws	At $1January 2021
				6000	6000	6000
	Cash at bank and in hand			93	800	893
	Bank overdrafts			(247)	247
				(154)	1,047	893
	Loans falling due within		one year	(43)	(38)	(81)
	Loans falling due after	more than one year		(195)	(712)	(907)
				(392)	297	(95)