2023-01-31-accounts - Beamish Museum

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		Page
Trustees report		1-18
Independent auditor's	report	20-22
Statement offinancial	activities	23-24
Balance sheet		25
Statement ofcash flows		26
Notes to the financial	statements	27- 51

Current financial year
			Unrestricted	Restricted	Total	1otal
			funds	funds
			2023	2023	2023	2022
		Notes	8000	8000	8000	8000
Inngmafmm;
Donations and legacies			480	235	715	3,930
Charitable activities			7,331		7,331	5,073
Other trading activities			5,433		5,433	3,061
Total income			13,244	235	13,479	12,064
Raising funds		6	1,694		1,694	895
Charitable activities		7	12,402		12,402	9,448
Total resources expended			14,096		14,096	10,343
Net (outgoing)/incoming	resources before
transfers			(852)	235	(617)	1,721
Gross transfers between	funds		3,535	(3,535)
Net income/(expenditure)	forthe year/
Net incoming/(outgoing)	resources		2,683	(3,300)	(617)	1,721
Other recognised gains	and losses
Actuarial gain on defined	benefit pension schemes		11,656		11,656	712
Restriction ofactuarial gain			(2,761)		(2,761)
Net movement in funds			11,578	(3,300)	8,278	2,433
Fund balances at 1 February 2022			15,739	16,340	32,079	29,646
Fund balances at 31January 2023			27,317	13,040	40,357	32,079

Prior financial year
				Unrestricted	Restricted	Total
				funds	funds
~f			Notes	2022 8000	2022 8000	2022 8000
Donations and legacies				16	3,914	3,930
Charitable activities				5,073		5,073
Other trading activities				3,061		3,061
Total income				8,150	3,914	12,064
E~di
Raising funds				895		895
Charitable activities				6,760	2,688	9,448
Total resources expended				7,655	2,688	10,343
Net (outgoing)/incoming	resources before transfers			495	1,226	1,721
Gross transfers between funds				(780)	780
Net income/(expenditure)	for	the year/
Net incoming/(outgoing)	resources			(285)	2,006	1,721
Other recognised gains and losses
Actuarial gain on defined benefit pension schemes				712		712
Net movement in funds				427	2,006	2,433
Fund balances at 1 February 2021				15,312	14,334	29,646
Fund balances at 31January		2022		15,739	16,340	32,079

				2023	2022	2023	2022
				Group	Group	Charity	Charity
			Notes	8000	8000	6000	6000
Fixed assets
Intangible	assets		12		6		6
Tangible assets			13	18,582	18,015	16,582	18,015
Heritage assets			14	15,484	12,428	15,484	12,426
				32,066	30,447	32,068	30,447
Current assets
Stocks			15	366	221	26	26
Debtors			16	6,019	7,629	6,294	7,753
Cash at bank and
in hand				4,316	3,707	4,312	3,698
				10,701	11,557	10,632	11,477
Creditors:	amounts	falling
due within	one year		17	(1,889)	(1,072)	(1,820)	(992)
Net current	assets			8,812	10,485	8,812	10,485
Total assets less current liabilities				40,878	40,932	40,878	40,932
Creditors:	amounts	falling
due after more than		one
year			18	(521)	(714)	(521)	(714)
Provisions	for liabilities		20		(8,139)		(8,139)
Net assets				40,357	32,079	40,357	32,079
Income funds
Restricted	funds		21	13,040	16,340	13,040	16,340
Unrestricted	funds		21	27,317	15,739	27,317	15,739
				40,357	32,079	40,357	32,079

			2023		2022
		Notes	OOOO	6000	6000	OOOO
Cash flows from operating	activities
Cash generated from operations		27		3,154		4,616
Income taxes (paid)/refunded						15
Net cash inflow from operating activities				3,154		4,631
Investing activities
Purchase oftangible fixed assets			(2,352)		(1,728)
Purchase ofheritage assets					(8)
Net cash used in investing	activities			(2,352)		(1,736)
Financing activities
Repayment of borrowings			(193)		(81)
Net cash used in financing	activities			(193)		(81)
Net increase in cash and cash equivalents				609		2,814
Cash and cash equivalents	at beginning	ofyear		3,707		893
Cash and cash equivalents	at end of	year		4,316		3,707

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2023	2023	2023	2022	2022	2022
			f000	f000	f000	f000	f000	f000
Government		agencies	443		443		946	946
Individual	donors/trusts		12		12	16	60	76
Local Authorities			25		25		55	55
CJRSfunding							1,627	1,627
Remaking	Beamish
(Other Funding)				235	235		1,226	1,226
			480	235	715	16	3,914	3,930

		Unrestricted	Unrestricted
		funds	funds
		2023	2022
		f000	f000
Admissions	income	7,137	4,974
Sale of guide books		41	42
Other income		153	57
		7,331	5,073

Unrestricted	Unrestricted
funds	funds
2023	2022
f000	f000
5,433	3,061
Unrestncted	Unrestncted
funds	funds
2023	2022
f000	f000
1,694	895

		Staffcosts	costs	Support	Total	Total
				Costs	2023	2022
		2023	2023	2023
		8000	8000	8000	8000	8000
Trading		1,651	140	254	2,045	2,572
Fundraising		65			65	93
Operation	ofMuseum	6,187	3,088	1,017	10,292	6,783
		7,903	3,228	1,271	12,402	9,448
		7,903	3,228	1,271	12,402	9,448

Analysis of	Support Costs
Staff Costs		342
Finance & HR		205
Computer Costs		204
Governance		32
Irrecoverable	VAT	488
		1,271

			Staff Costs Other Costa	Staff Costs Other Costa	Support	Total
					Costs	2022
			8000	6000	8000	5000
Trading			1,184	1,221	167	2,572
Fundraising			81		12	93
Operation	of	Museum	4,148	1,998	637	6,783
			5,413	3,219	816	9,448
			5,413	3,219	816	9,448
Analysis of		Support Costs
Staff Costs			375
Finance &	HR		131
Computer	Costs		82
Governance			26
Irrecoverable		VAT	202
			816

Net movement in funds	Net movement in funds	2023	2022
		8000	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		20	14
Fees payable	to the group's auditor for non audit services	5	4
Depreciation	of owned tangible fixed assets	728	739
Amortisation	ofintangible assets	6	7

Employees					(Continued)
The number ofemployees	whose annual	remuneration	was 660,000 or more
were:
				2023	2022
				Number	Number
670,001 - 580,000					1
690,001 - 6100,000

intangible fi	xed assets
		Sofiwam
		6000
Cost
At 1 February	2022 and 31 January 2023	20
Amortisation	and impairment
At 1 February	2022	14
Amortisation	charged for the year	6
At 31January	2023	20
Carrying amount
At 31January	2023
At 31January	2022

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15	Stocks
						2023	2022	2023	2022
						fOOD	8000	6000	8000
						Group	Group	Charity	Charity
	Raw materials		and consumables			366	221	26	26
16	Debtors
						2023	2022	2023	2022
	Amounts falling due			within	one year:	6000	6000	6000	8000
						Group	Group	Charity	Charity
	Trade debtors					131	95	131	92
	Amounts owed		by subsidiary		undertakings			276	126
	HLF grant debtor					5,294	6,605	5,294	6,605
	Other debtors					493	626	492	626
	Prepayments	and accrued income				101	303	101	303
						6,019	7,629	6,294	7,752
17	Creditors: amounts			falling due within one year
						2023	2022	2023	2022
						6000	6000	5000	8000
						Group	Group	Charity	Charity
	Borrowings					193	193	193	193
	Other taxation		and social
	security					688	90	688	90
	Trade creditors					518	310	475	272
	Other creditors					107	145	83	120
	Accruals and deferred			income		383	334	381	317
						1,889	1,072	1,820	992

Creditors: than one	amounts falling due a year	fter more
		2023	2022	2023	2022
		6000	8000	6000	6000
		Group	Group	Charity	Charity
Borrowing	s	521	714	521	714

Loans	and overdrafts
		2023	2022	2023	2022
		9000	f000	9000	9000
		G map	Group	Charity	Charity
Otherloans		714	907	714	907
Payable	within one year	193	193	193	193
Payable	aRer one year	521	714	521	714

Ksy assu	mptio	ns
						2023	2022
							'/
Discount	rate					4.45	2.25
Expected rate		ofincrease ofpensions		in payment		3.05	3.1
Expected rate		ofsalary increases				4.05	4.1
Revaluation ofpension accounts						not provided	3.1
Rate of	inflation (CPI)					3.05	3.1
Mortality	assumptions
The assumed		life expectations	on retirement		at age 65are:
						2023	2022
						Years	Years
Retiring	today
- Males						21.7	21.9
- Females						23.5	23.6
Retiring	in 20	years
-Males						22.9	23.3
-Females						25.3	25.4

Retirement benefit schemes										(Continued)
Amounts recognised in the profit	and loss account:
									2023	2022
									9000	2000
Current service cost									1,144	927
Net interest on defined benefit liability/(asset)									189	135
Other costs and income									1
Total costs									1,334	1,062
Amounts taken to other comprehensive			income:
									2023	2022
									6000	8000
Actual return on scheme assets									(1,141)	(2,485)
Less: calculated interest element									447	276
Return on scheme assets excluding		interest		income					(694)	(2,209)
Actuarial changes related to obligations									(10,962)	1,497
Effects ofchanges in the amount	of surplus			that is	not recoverable				2,761
Total costs/(income)									(8,895)	(712)
The amounts included in the	balance			sheet	arising	from	the	charity's
obligations in respect ofdefined	benefit		plans are as follows:
									2023	2022
									9000	f000
Present value ofdefined benefit	obligations								18,286	27,846
Fair value of plan assets									(21,117)	(19,795)
(Surplus)/deficit in scheme									(2,831)	8,051
Restriction on scheme assets									2,761
Present value of unfunded obligations									70	88
Total liability recognised										8,139

Movements	in the present value ofdefined	in the present value ofdefined	in the present value ofdefined	benefit	obligations:
						2023	2022
						6000	6000
Liabilities at	1 February 2022					27,934	25,525
Current service cost						1,144	927
Past service	cost					1
Benefits paid						(529)	(549)
Contributions	from scheme members					139	123
Actuarial gains and losses						(10,962)	1,497
Interest cost						636	411
Other						(7)
At 31 January 2023						18,356	27,934
The defined	benefit obligations	arise from		plans funded as follows:
						2023	2022
						5000	5000
Wholly unfunded obligations						70	88
Wholly or partly funded obligations						18,286	27,846
						18,356	27,934
Movements in the fair value of		plan assets:
						2023	2022
						5000	6000
Fair value of	assets at 1 February		2022			19,795	17,219
Interest income						447	276
Return on plan assets (excluding			amounts	included	in net interest)	694	2,209
Benefits paid						(529)	(549)
Contributions	by the employer					571	517
Contributions	by scheme members					139	123
At 31 January	2023					21,117	19,795

Group
							Movement	in funds
					Balance at	Incoming	Resources	Transfers	Revaluations,	Balance at
					1 February 2022	resources	expended		gains and31 losses	January 2023
					8000	8000	8000	8000	8000	8000
Restricted			funds
Remaking		Beamish			16,332	235		(3,535)		13,032
Karl Doran			Memorial
Fund
Sundry	restricted			funds
					16,340	235		(3,535)		13,040
Unrestricted			funds
General	reserve				23,878	13,244	(13,340)	3,535		27,317
Pension	Reserve				(8,139)		(756)	-	8,895
					15,739	13,244	(14,096)	3,535	8,895	27,317
					32,079	13,479	(14,096)		8,895	40,357

Comparative	information	information	in respect of	the preceding	period is as follows:	period is as follows:
Group
					Movement	in funds
			Balance at	Incoming	Resources	Transfers	Revaluations,	Balance at 31
		1	February 2021	resources	expended		gains and	January 2022
							losses
				2000		2000	2000
Restricted funds
Remaking Bsamish			14,326	1,226		780		16,332
Karl Doran Memorial
Fund
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)		(545)		712	(8,139)
			15,312	8,150	(7,655)	(780)	712	15,739
			29,646	12,064	(10,343)		712	32,079

Charity
				Movement	in funds
		Balance at	Incoming	Resources	Transfers	Revaluations,	Balance	st $1
		1 February 2021	resources	expended		gains and	January	2022
						losses
			2000			2000		2000
Restricted funds
Remaking Beamish		14,326	1,226		780		16,332
Karl Doran Memorial
Fund
Educational	funding		60	(60)
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)		(545)		712	(8,139)
		15,312	7,255	(6,760)	(780)	712	15,739
		29,646	10,888	(9,167)		712	32,079

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							2023	2022
							6000	5000
	trrfthin one year						27	29
	Between two and five years						21	15
							48	44
24	Capital commitments						2023	2022
							8000	6000
	At 31 January 2023 the	charity	had capital commitments			as follows:
	Contracted for but not provided		in the	financial statements:
	Acquisition ofproperty,	plant and equipment					153	499
25	Related party transactions
	Remuneration ofkey management			personnel
	The remuneration of key management			personnel	is as	follows.
							2023	2022
							8000	8000
	Aggregate compensation						397	169

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

			2023	2022
			f000	f000
Turnover			5,433	3,342
Cost ofsales			(1,694)	(895)
Gross profit			3,739	2,447
Administrative	expenses		(3,739)	(2,447)
The aggregate	ofthe	assets, liabilities and funds was:
				f
Assets			100	100
Liabilities			(100)	(100)
Funds (representing		100ordinary shares off1 each)

27	Cash generated from	operations	operations		2023	2022
					8000	6000
	Surplus for the year				(617)	1,721
	Adjustments for:
	Depreciation and impairment		oftangible fixed assets		734	746
	Difference between pension		charge and cash contributions		756	545
	Movements in working	capital:
	(Increase) in stocks				(145)	(3)
	Decrease in debtors				1,609	1,237
	Increase in creditors				817	370
	Cash generated from	operations			3,154	4,616
28	Analysis ofchanges	in net	funds
				At 1 February	Cash flows	At $1January
				2022		2023
				8000	5000	8000
	Cash at bank and in hand			3,707	609	4,316
	Loans falling due within	one	year	(193)		(193)
	Loans falling due after	more	than one year	(714)	193	(521)
				2,800	802	3,602