2022-01-31-accounts - Beamish Museum

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees		AAshburner
		M A Barker
		Councillor A Douglas
		G E Miller
		A M Nixon
		JA Pennie
		S ESalter
		J Stephenson
		S LStewart
		AJ Batey	(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
		8eamish
		County Durham
		United Kingdom
		DH9 ORG
Auditor		Azets Audit Services
		Wynyard Park House
		Wynyard Avenue
		Wynyard
		United Kingdom
		TS22 5TB
Bankers		Natwest
		Sunderland City Branch
		52 Fawcett Street
		Sunderland
		United Kingdom
		SR1 1SB

		Page
Trustees report		1-16
Independent auditor's	report	18-20
Statement offinancial	activities	21 - 22
Balance sheet		23
Statement ofcash flows		24
Notes to the financial	statements	25 - 50

Current financial year
				Unrestricted	Restricted	Total	Total
				funds	funds
				2022	2022	2022	2021
			Notes	8000	6000	8000	8000
f
Donations and legacies				16	3,914	3,930	7,513
Charitable activities				5,073		5,073	2,190
Other trading activities				3,061		3,061	1,372
Total income				8,150	3,914	12,064	11,075
~Ex ttd)tttrttJttg
Raising funds				895		895	396
Charitable activities			7	7,131	2,688	9,819	10,331
Total resources expended				8,026	2,688	10,714	10,727
Net incoming resources	before transfers			124	1,226	1,350	348
Gross transfers between	funds			(780)	780
Net (expenditure)/income	for	the year/
Net (outgoing)/incoming	resources			(656)	2,006	1,350	348
Other recognised gains	and	losses
Actuarial gain/(loss) on defined		benefit pension
schemes				1,083		1,083	(252)
Net movement in funds				427	2,006	2,433	96
Fund balances at 1 February 2021				15,312	14,334	29,646	29,550
Fund balances at 31January		2022		15,739	16,340	32,079	29,646

Prior financial year
				Unrestricted	Restricted	Total
				funds	funds
~ln corn E			Notes	2021 8000	2021 8000	2021 8000
Donations and legacies				23	7,490	7,513
Charitable activities				2,190		2,190
Other trading activities				1,372		1,372
Total income				3,585	7,490	11,075
EtgtttmIIItttOJt tti
Raising funds				396		396
Chadtable activities				4,396	5,935	10,331
Total resources expended				4,792	5,935	10,727
Net incoming resources before transfers				(1,207)	1,555	348
Net (expenditure)/income	for	the year/
Net (outgoing)/incoming	resources			(1,207)	1,555	348
Other recognised gains and		losses
Actuarial gain/(loss) on defined		benefit pension schemes		(252)		(252)
Net movement in funds				(1,459)	1,555	96
Fund balances at 1 February 2020				16,771	12,779	29,550
Fund balances at 31January		2021		15,230	14334	29646

				2022	2021	2022	2021
				Group	Group	Charity	Charity
			Notes	6000	6000	6000	6000
Fixed assets
Intangible	assets		12	6	13	6	13
Tangible assets			13	18,015	16,557	18,015	16,557
Heritage assets			14	12,426	12,886	12,426	12,886
				30,447	29,456	30,447	29,456
Current assets
Stocks			15	221	218	26	26
Debtors			16	7,629	8,857	7,752	8,979
Cash at bank and
in hand				3,707	893	3,699	888
				11,557	9,968	11,477	9,893
Creditors:	amounts	falling
due within	one year		17	(1,072)	(565)	(992)	(490)
Net current	assets			10,485	9,403	10,485	9,403
Total assets less current			liabilities	40,932	38,859	40,932	38,859
Creditors:	amounts	falling
due after more than		one
year			18	(714)	(907)	(714)	(907)
Provisions	for liabilities		20	(8,139)	(8,306)	(8,139)	(8,306)
Net assets				32,079	29,646	32,079	29,646
Income funds
Restricted	funds		21	16,340	14,334	16,340	14,334
Unrestricted	funds		21	15,739	15,312	15,739	15,312
				32,079	29,646	32,079	29,646

						2022		2021
					Notes	8000	8000	6000	8000
Cash flows from operating		activities
Cash generated from operations					27		4,616		1,093
Income taxes refunded/(paid)							15
Net cash inflow from operating			activities				4,631		1,093
Investing	activities
Purchase	of intangible assets							(20)
Purchase	oftangible fixed assets					(1,728)		(776)
Purchase	ofheritage assets					(8)
Net cash	used in investing	activities					(1,736)		(796)
Financing	activities
Repayment	ofborrowings					(81)		750
Net cash	(used in)/generated			from
financing	activities						(81)		750
Net increase in cash and cash equivalents							2,814		1,047
Cash and	cash equivalents	at	beginning		ofyear		893		(154)
Cash and	cash equivalents		at	end of	year		3,707		893

		UnrestrictedUnrestricted	UnrestrictedUnrestricted
		funds	funds
		2022	2021
		6000	6000
Admissions	income	4,974	2,077
Sale ofguide books		42	18
Other income		57	95
		5,073	2,190
Other trading activities
		Unrestricted	Unrestricted
		funds	funds
		2022	2021
		6000	6000
Retail and	catering income	3,061	1,372
Raising funds
		Unrestricted	Unrestricted
		funds	funds
		2022	2021
		6000	6000
Finished goods and consumables		895	396

		costs	costs	Support	Total	Total
				Costs	2022	2021
		2022	2022	2022
		8000	8000	8000	8000	8000
Trading		1,184	1,221	167	2,572	1792
Fundraising		81		12	93	86
Operation	ofMuseum	4,519	1,998	637	7,154	8453
		5,784	3,219	816	9,819	10,331
		5,784	3,219	816	9,819	10,331

			StaffCosts Other Costs	StaffCosts Other Costs	Support	Total
					Costs	2021
			8000	6000	SOOO	8000
Trading			1,294	364	134	1,792
Fundraising			77	1	8	86
Operation	of	Museum	6,421	1,370	662	8,453
			7,792	1,735	804	10,331
			7,792	1,735	804	10,331
Analysis of		Support Costs
Staff Costs			384
Finance &	HR		139
Computer	Costs		131
Governance			19
Irrecoverable		VAT	131
			804

Net movement in funds	Net movement in funds		2022	2021
			6000	8000
Net movement in funds is stated after charging/(crediting)
Fees payable	to the group's auditor for the audit ofthe group's	financial
statements			14	13
Fees payable	to the group's auditor for non audit services		4	4
Depreciation	ofowned tangible fixed assets		739	821
Amortisation	of intangible assets		7	7

Employees							(Continued)
The number	of employees	whose	annual	remuneration	was 260,000 or
more were:
						2022	2021
						Number	Number
f70,000 - 79,999						1
5100,000-109,999

Intangible fi	xed assets
		Software
		5000
Cost
At 1 February	2021 and 31 January 2022	20
Amortisation	and impairment
At 1 February	2021
Amoitisation	charged for the year
At 31 January	2022	14
Carrying amount
At 31 January	2022
At31 January	2021	13

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15	Stocks
					2022	2021	2022	2021
					6000	6000	6000	6000
					Group	Group	Charity	Charity
	Raw matedals	and consumables			221	218	26	26
16	Debtors
					2022	2021	2022	2021
	Amounts falling due within			one year:	8000	6000	8000	8000
					Group	Group	Charity	Charity
	Trade debtors				95	15	92	12
	Amounts owed by		subsidiary	undertakings			126	225
	Hl F grant debtor				6,605	7,951	6,605	7,951
	Other debtors				626	791	626	691
	Prepaymenls	and	accrued income		303	100	303	100
					7,629	8,857	7,752	8,979
17	Creditors: amounts falling due within one year
					2022	2021	2022	2021
					6000	8000	6000	6000
					Group	Group	Charity	Charity
	Bonowings				193	81	193	81
	Other taxation	and	social
	security				90	81	90	81
	Trade creditors				310	86	272	84
	Other creditors				145	192	120	148
	Accruals and deferred income				334	125	317	120
					1,072	565	992	514

2022	2021	2022	2021
6000	6000	6000	0000
Group	Group	Charity	Charity
714	907	714	907

Loans	and overdrafts
		2022	2021	2022	2021
		6000	f000	6000	6000
		Group	Group	Charity	Charity
Otherloans		907	988	907	988
Payable	within one year	193	81	193	81
Payable	atter one year	714	907	714	907

Key assumptio	n	s
						2022	2021
						'/o	'/o
Discount rate						2.25	1.6
Expected rate		of increase ofpensions		in payment		3.1	2.1
Expected rate		of salary increases				4.1	3.1
Revaluation of		pension accounts				3.1	2.1
Rate of inflation		(CPI)				3.1	2.1
Mortality assumptions
The assumed	life expectations		on retirement		at age 65are:
						2022	2021
						Years	Years
Retiring today
- Males						21.9	21.9
- Females						23.6	23.6
Retiring in 20	years
- Males						23.3	23.3
- Females						25.4	25.4

Retirement benefit schemes	Retirement benefit schemes										(Continued)
Amounts recognised in the profit		and	loss		account
										2022	2021
										6000	f000
Current service cost										927	1,303
Net interest on defined benefit liability/(asset)										135	114
Other costs and income											108
Total costs										1,062	1,525
Amounts taken to other comprehensive				income:
										2022	2021
										6000	6000
Actual return on scheme	assets									(2,485)	(519)
Less: calculated interest	element									276	283
Return on scheme assets excluding			interest income							(2,209)	(236)
Actuadial changes related	to obligations									1,497	491
Movement in unfunded obligations										(6)	(3)
Total costs/(income)										(718)	252
The amounts included	in the	balance			sheet	arising	from	the	charity's
obligations in respect ofdefined		benefit plans are				as follows:
										2022	2021
										f000	6000
Present value ofdefined	benefit	obligations								27,846	25,443
Fair value of plan assets										(19,795)	(17,219)
Deficit in scheme										8,051	8,224
Present value of unfunded	obligations									88	82
Total liability recognised										8,139	8,306

Movements	in the present value ofdefined	in the present value ofdefined	benefit	obligations:
					2022	2021
					6000	6000
Liabilities at	1 February 2021				25,525	23,635
Current service cost					927	1,303
Past service	cost					108
Benefits paid					(549)	(540)
Contributions	from scheme members				123	131
Actuarial gains and losses					1,497	491
Interest cost					411	397
At31 January 2022					27,934	25,525
The defined	benefit obligations arise from plans funded as follows:
					2022	2021
					f000	FOOO
Wholly unfunded obligations					88	82
Wholly or partly funded obligations					27,846	25,443
					27,934	25,525
Movements in the fair value of plan assets:
					2022	2021
					8000	8000
Fair value of	assets at 1 February	2021			17,219	16,549
Interest income					276	283
Return on plan assets (excluding		amounts	included	in net interest)	2,209	236
Benefits paid					(549)	(537)
Contributions	by the employer				517	557
Contributions	by scheme members				123	131
At31 January	2022				19,795	17,219

Group
					Movement		In funds
				Balance at	Incoming	Resources		Revaluations,	Balance at
				1 February 2021	resources	expended		gains snd21	January 2022
								losses
				6000	6000		6000	ROOO	ROOO
Restricted funds
Remaking Beamish				14,326	1,226			780	16,332
Karl Doran Memorial			Fund	7					7
Educational	funding				60		(60)
Local authority contributions					55		(55)
Sundry restricted		funds
Job retention	scheme				1,627		(1,627)
CRF Funding					362		(362)
ACE (Covid	Funding)				584		(584)
				14,334	3,914		(2,688)	780	16,340
Unrestricted	funds
General reserve				23,618	8,150		(7,110)	(780)	23,878
Pension Reserve				(8,306)			(916)	1,083	(8,139)
				15,312	8,150		(8,026)	303	15,739
				29,646	12,064	(10,714)		1,083	32,079

Charity
					Movement		in funds
				Balance at	Incoming	Resources		Revaluations,	Balance at
				1 February 202t	resources	expended		gains andst	January 2022
								losses
				OOOO	OOOO		OOOO	OOOO	OOOO
Restricted funds
Remaking Beamish				14,326	1,226			780	16,332
Arts Council	- MPM Core Funding
Karl Dolan Memorial			Fund
Educational	funding				60		(50)
Local authority contributions					55		(55)
Sundry restricted		funds
Job retention	scheme				1,346		(1,346)
CRF Funding					362		(362)
ACE (Covid	Funding)				584		(584)
				14,334	3,633		(2,407)	780	16,340
Unrestricted	funds
General reserve				23,618	7,255		(6,215)	(780)	23,878
Pension Reserve				(8,306)			(916)	1,083	(8,139)
				15,312	7,255		(7,131)	303	15,739
				29,646	10,888		(9,538)	1,083	32,079

Comparative Inform Group	ation in respe	ct ofthe precedin	g period isas fo	g period isas fo	llows:	llows:
			Movement		in funds
		Balance at	Incoming	Resources		Revaluations,	Balance at31
		1February 2020	resources	expended		gains and	January 2021
						losses
		2000	2000		2000	2000	2000
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 at	Incoming	Resources		Revaluations,	Balance at 31
					1 February 2020	resources	expended		gains and	January 2021
									losses
					2000	2000		2000	2000	2000
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 restdicted			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

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							2022	2021
							f000	f000
	Within one year						29	34
	Between two and five years						15	42
							44	76
24	Capital commitments						2022 f000	2021 f000
	At 31 January 2022 the	charity	had capital commitments			as follows:
	Contracted for but not provided		in the	financial statements:
	Acquisition of property,	plant and equipment					499	305
25	Related party transactions
	Remuneration of key management			personnel
	The remuneration of key management			personnel	isas	follows.
							2022	2021
							f000	f000
	Aggregate compensation						169	194

25	Related party transactions	Related party transactions
	Remuneration	of key management	personnel
	The remuneration	of key management	personnel	isas	follows.

Name ofundertaking	Name ofundertaking	Registered	Nature ofbusiness	Class of	'la Held
		office		shares	Direct	Indirect
				held
Beamish Museum	Trading	United	Trading company	Ordinary	100.00
Limited		Kingdom		shares

			2022	2021
			6000	EOOO
Turnover			3,342	2,034
Cost ofsales			(895)	(396)
Gross profit			2,447	1,638
Administrative	expenses		(2,447)	(1,638)
The aggregate	ofthe	assets, liabilities and funds was:
			6	8
Assets			100	100
Liabilities			(100)	(100)
Funds (representing		100ordinary shares ofE1 each)

27	Cash generated from	operations			2022	2021
					8000	6000
	Surplus for the year				1,350	348
	Ad)ustments for:
	Depreciation and impairment oftangible		fixed assets		746	741
	Diiference between pension charge and		cash contributions		916	1,053
	Movements in working	capital:
	(Increase)/decrease in	stocks			(3)	16
	Decrease/(increase) in	debtors			1,237	(465)
	Increase/(decrease) in	creditors			370	(600)
	Cash generated from	operations			4,616	1,093
28	Analysis ofchanges	in net funds/(debt)
				At f February	Cash flows	At 3t January
				202f		2022
				8000	8000	8000
	Cash at bank and in hand			893	2,814	3,707
	Loans falling due within	one year		(81)	(112)	(193)
	Loans falling due after	more than one year		(907)	193	(714)
				(95)	2,895	2,800