2021-03-31-accounts

Registered number: 06670805 Charity number: 1126970

DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

CONTENTS

	Page
Reference and Administration Details of the Company, its Trustees and Advisers	1
Trustees’ Report	3
Independent Examiner’s Report to the Trustees of Ditchling Museum of Art & Craft	8
Consolidated Statement of Financial Activities	9
Summary Income and Expenditure Account	10
Consolidated Balance Sheet	11
Company Balance Sheet	12

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

President

H.R.H. The Duchess of Cornwall

Patrons

Mrs Jenny Kilbride Roberts MBE DL

Trustees

Carol Watts, Chair Gavin Ambrose Ruth Cribb Robert Griffiths Penelope Jones Ashley Knowles Kevin G Smyth Robin Stewart Anna Zeuner

Company Registration Number

06670805

Charity Registered Number

1126970

Registered Office

Lodge Hill Lane Ditchling, Hassocks West Sussex BN6 8SP

Company Secretary

Robert Griffiths

Chief Executive Officer

Stephanie Fuller

Independent Examiners

VMR Anderson BA Hons FCA DChA Clark Brownscombe St Andrews Place Lewes East Sussex BN7 1UP

1

DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Bankers

CAF Bank Ltd PO Box 289 Kings Hill West Malling Kent ME19 4TA

Investment Advisers

Investec 2 Gresham Street London EC2V 7QN

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report together with the unaudited financial statements of Ditchling Museum of Art + Craft ("the Trust", "the Company" or the “Museum”) for the period 1 April 2020 to 31 March 2021. The annual report and unaudited financial statements comprise the consolidated results and financial position of the Company and the Ditchling Museum Endowment Trust, registered charity number 290075 (together “the Group”). The Trustees confirm that the annual report and financial statements of the Company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Since the Company and the Group qualify as small under section 383, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

PRINCIPAL ACTIVITY AND OBJECTIVES

Ditchling Museum was founded in 1985 by Joanna and Hilary Bourne. It is housed in a purpose-built award-winning building designed by Adam Richards Architects, which opened in 2012. The Museum holds a unique collection of work by many of the internationally known artists and craftspeople who chose to make Ditchling their home from the early 20th Century onwards, including David Jones, Sir Frank Brangwyn, Edward Johnston, Eric Gill, Ethel Mairet and Charles Knight.

The purpose of the Company is to present the story and historical context of the artists and craft workers who lived and worked in Ditchling and its surrounding communities since 1900. This is to be achieved through the acquisition, organisation, preservation, and interpretation of relevant and related objects and information and their deployment for public display, research and learning.

Vision:

A Place for Making

Inspired by the artists and craftspeople who first came to Ditchling, and in collaboration with contemporary practitioners, we connect past, present and future.

Mission:

Engage: Inspire: Create

• To use the power of making to improve people’s lives with socially driven projects and hands on opportunities to create.

• To be a hub for engaging with historic and contemporary making for researchers and creative practitioners

• • To be an inspiring, enriching and inclusive museum that preserves the ideas and work of Ditchling’s historic makers and uses them to explore contemporary issues.

Objectives

Key objectives planned for this period were overtaken by the COVID-19 pandemic, and an emergency plan was put into place. Primary objectives during this year were:

• To ensure the museum remained sustainable and financially viable during the pandemic.

• To retain relationships with audiences and communities through digital means where face to face operation was not possible.

• To support staff wellbeing and financial security in so far as that was possible during this period of extreme uncertainty.

The museum was closed for over 6 months during 2020-21 because of lockdown restrictions.

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

ACHIEVEMENTS AND PERFORMANCE

Collection and Exhibitions

• Closure periods when staff were still able to access the building were used productively to progress collection cataloguing and care, and for research time.

• A new project Different Stories was initiated, working with external partners to explore disability and queer stories within the museum collection.

• One exhibition was presented during this period: tillage an exhibition of work by artist John Newling. It opened in July several months later than scheduled, once museums were permitted to re-open, and was extended across the rest of the. This exhibition which included new commissioned worked made in collaboration with the local community and additional work made by Newling during lockdown was well received by visitors and resonated with the prevailing increased appreciation of nature at this time.

The planned Hamada exhibition for winter 2020 was postponed.

Learning and Community

• During lockdown the museum developed and delivered its first digital programme, designed to support wellbeing through creativity, and engage with our audiences. This was a new venture, but was highly successful, growing our social media following significantly and winning an award from Kids In Museums for Virtual Museum Club, a programme of weekly online family workshops.

• Very little face to face activity took place because of restrictions during this year, although a successful Christmas project took place with local families who used kits to make festive lanterns at home, and then came together on the village green just before Christmas to share their work in a communal event.

Communication and Audience Development

• During the open periods we welcomed 2,251 visitors, only 17% of normal numbers in an average year.

• • Audience surveys after reopening reflected a high level of satisfaction with the experience and the exhibition, including safety measures in place to combat COVID-19 transmission with 100% visitors saying they felt safe.

• The website rebuild commissioned in 2019-20 was completed in early 2020-21 and proved invaluable with a new online donations facility and enabling the expansion of online retail.

Commercial

• Commercial results are significantly down due to the pandemic. However, the success of the new online retail platform has been significant, and has mitigate the loss of on-site sales to some extent.

Governance

• The Board meet more frequently during 2020-21 in response to the pandemic crisis with monthly meetings during the early part of the period.

• The Finance and Income Generation Committee met monthly throughout the year, leading work on financial scenario planning to support prudent financial management.

Business Review, Investment Policy and Reserves

During the year the Trust’s consolidated funds increased by £75,184 (2020: decrease of £52,812), comprising income of £439,858 (2020: £403,129), expenditure of £382,973 (2020: £435,688) and gains on investment assets of £18,299 (2020: losses of £20,253). Consolidated reserves carried forward at 31 March 2021 totalled £2,531,027 (2020: £2,455,843). Of this amount £831,749 (2020: £755,960) is unrestricted, £391,718 (2020: £373,970) are Endowment Funds and the balance of £1,307,560 (2020: £1,325,913) is restricted. The restricted funds at 31 March 2021 predominantly comprise the development fund of £1,218,526 (2020: £1,246,639), which is primarily represented by the freehold property.

The Trustees have set a policy for investment of the Trust’s assets such that available monies are invested to maximise the total return, whilst ensuring that there is sufficient liquidity for short term cash flow requirements.

The Trustees have established the minimum level of unrestricted reserves that the Trust ought to have to cover operating costs as £60,000. Reserves are necessary to bridge the funding gaps between spending on exhibitions and other projects

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

and receiving resources. Reserves are also held to cover possible emergency repairs to the property and other expenditure. The majority of the Trust’s unrestricted reserves of £831,749 at 31 March 2021 (2020: £755,960) are represented by the property and other tangible assets.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees

The Trustees, who are also directors for the purpose of company law, and who served during the year were:

Prof. Carol Watts, Chair Gavin Ambrose Ruth Cribb David M Browne (resigned 28 May 2020) Robert Griffiths Penelope Jones Ashley Knowles Kevin G Smyth Robin Stewart Anna Zeuner

Appointment of Trustees

Trustees and their terms of office are recommended to the members of the Board of Trustees (“the Board”). All appointments and reappointments must be approved in advance by the members either in general meeting or in writing.

Governing Document

Ditchling Museum of Art + Craft is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 July 2008. It is registered as a charity with the Charity Commission (Charity No. 1126970). The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member.

The Trust was established to take over the ownership and management of Ditchling Museum from the Endowment Trust under which the Museum had operated since it was founded in 1985.

The Endowment Trust retains the core investment portfolio which is subject to the terms of a new governing document or “scheme” approved by the Charity Commissioners in 2011. All income received from endowment assets inures to the benefit of Ditchling Museum Trust and is transferred in cash on receipt.

Trustees' Induction and Training

New Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the business and finances of the Trust, the Museum Business Plan and all Museum policy documents.

Management

The business of the Trust is managed by the Board who meet at least four times per year.

The number of Trustees must be a minimum of three and a maximum of fifteen. When Trustees retire, applications are sought through open call, and nominations are sought from existing Trustees and Museum staff for their replacement. They are appointed at any of the four Trustees meetings during the year.

The day-to-day running of the Museum is delegated to a full-time Director, Stephanie Fuller. She is assisted by a full-time

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

Learning and Public Programmes Manager; a full-time General Manager, assisted by three part-time Visitor Services Assistants; a part-time Retail Manager, a part-time Collection Curator; a full-time Collections and Learning Assistant and a part-time Communications Manager.

The museum also runs an extensive volunteer programme and hosts internships and offers work experience opportunities. The Trust annually reviews its risk management processes to ensure that it is up to date and that procedures are fully understood by all concerned.

Pay Policy for Senior Staff

The Trustees consider that they and the person responsible for the day to day management of the Trust comprise the key management personnel of the Trust in charge of directing, controlling, running and operating the Trust on a day to day basis. All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustee expenses are disclosed in note 11 to the accounts. The pay of the senior staff is reviewed annually.

FUTURE PLANS

Due to the impact of the Covid-19 pandemic original plans were subject to substantial change, and the new business plan not developed during 2020-21 as intended. Instead, an emergency plan was put in place to support operation in the changed environment. It is the Museum’s intention to pick up this work during 2021-22 as more normal operations resume, and integrate learning from the pandemic period into future plans.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of Ditchling Museum of Art + Craft for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2015 (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SMALL COMPANY EXEMPTIONS

The above report has been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime.

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

This report was approved by the Trustees, on 14 December 2021 and signed on their behalf by:

Professor Carol Watts Chair

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

INDEPENDENT EXAMINER’S' REPORT TO THE TRUSTEES OF DITCHLING MUSEUM OF ART + CRAFT FOR THE YEAR ENDED 31 MARCH 2021

I report on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 9 to 27.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

• examine the financial statements under section 145 of the 2011 Act;

• to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and

• to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention to indicate that:

• accounting records have not been kept in accordance with section 386 of the Companies Act 2006;

• the financial statements do not accord with such records;

• whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charites SORP (FRS102);

• any matter which I believe should be drawn to the reader to gain a proper understanding of the financial statements.

Victoria Anderson BA (Hons) FCA DChA Chartered Accountant Clark Brownscombe 2 St Andrews Place Lewes, East Sussex, BN7 1UP

Date: 20 December 2021

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DITCHLING MUSEUM OF ART + CRAFT

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note Income and endowments from: Donations and grants 2 Charitable activities 3 Other trading activities 4 Investments 5 Other income Total income and endowments Expenditure on: Raising funds 4 Charitable activities 6,7,8 Total expenditure 9 Net income/(expenditure) before investment gains/(losses) Net gains/(losses) on investments 13 Net income/(expenditure) before transfers Transfers between Funds 18 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds 2021 £ 147,617 12,350 49,069 58 - 209,094 50,647 106,035 156,682 52,412 - 52,412 23,377 75,789 755,960 831,749	Restricted funds 2021 £ 225,881 - - - - 225,881 51,438 174,347 225,785 96 - 96 (18,449) (18,353) 1,326,913 1,307,560	Endowment funds 2021 £ - - - 4,883 - 4,883 506 - 506 4,377 18,299 22,676 (4,928) 17,748 373,970 391,718	Total funds 2021 £ 373,498 12,350 49,069 4,941 - 439,858 102,591 280,382 382,973 56,885 18,299 75,184 - 75,184 2,455,843 2,531,027	Total funds 2020 £ 200,198 80,134 116,050 6,747 -
					403,129
					177,264 258,424
					435,688
					(32,559) (20,253)
					(52,812) -
					(52,812) 2,508,655
					2,455,843

The notes on pages 13 to 27 form part of these financial statements.

9

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

SUMMARY INCOME AND EXPENDITURE ACCOUNT Excluding Endowment Funds FOR THE YEAR ENDED 31 MARCH 2021

Note Gross income in the reporting period Less: Total expenditure Net income/(expenditure) for year before transfers Transfers between funds 18 Net income/(expenditure) for the financial year 18	Unrestricted funds 2021 £ 209,094 (156,682) 52,412 23,377 75,789	Restricted funds 2021 £ 225,881 (225,785) 96 (18,449) (18,353)	Total funds 2021 £ 434,975 (382,467) 52,508 4,928 57,436	Total funds 2020 £ 396,539 (435,123)
				(38,584) 6,590
				(31,994)

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(A company limited by guarantee – Registered Number 06670805)

DITCHLING MUSEUM OF ART + CRAFT

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021

	Note		2021		2020
		£	£	£	£
Fixed assets
Tangible assets	12		2,175,478		2,221,674
Investments	13		162,671		144,923
			2,338,149		2,366,597
Current assets
Stock	14	33,298		36,574
Debtors	15	40,702		10,505
Cash in hand		170,731		108,687
		244,731		155,766
Creditors: amounts falling due within
one year	16	(30,077)		(42,122)
			**214,654 **		113,644
Total assets less current liabilities			2,552,803		2,480,241
Creditors: amounts falling due after
more than one year	17		(21,776)		(24,398)
Net assets			2,531,027		2,455,843
Charity funds
Endowment funds	18		391,718		373,970
Restricted funds	18		1,307,560		1,325,913
Unrestricted funds	18		831,749		755,960
Total Funds			2,531,027		2,455,843

The Group's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Trustees consider that the Group is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members of the Company have not required the Group to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 14 December 2021 and signed on their behalf by:

Prof. Carol Watts

The notes on pages 13 to 27 form part of these financial statements.

11

(A company limited by guarantee – Registered Number 06670805)

DITCHLING MUSEUM OF ART + CRAFT

COMPANY BALANCE SHEET AS AT 31 MARCH 2021

	Note		2021		2020
		£	£	£	£
Fixed assets
Tangible assets	12		2,175,478		2,221,674
Investments	13		162,671		144,923
			2,338,149		2,366,597
Current assets
Stock	14	33,298		36,574
Debtors	15	40,702		10,505
Cash in hand		170,761		108,687
		244,731		155,766
Creditors: amounts falling due within
one year	16	(30,077)		(42,122)
			**214,654 **		113,644
Total assets less current liabilities			2,52,803		2,480,241
Creditors: amounts falling due after
more than one year	17		(250,823)		(253,445)
Net assets			2,301,980		2,226,796
Charity funds
Endowment funds			162,671		144,923
Restricted funds			1,307,560		1,325,913
Unrestricted funds			831,749		755,960
Total Funds			2,301,980		2,226,796

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Trustees consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 14 December 2021 and signed on their behalf, by:

Prof Carol Watts

The notes on pages 13 to 27 form part of these financial statements.

12

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Ditchling Museum of Art + Craft ("the Trust" or "the Company") meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Statement of Financial Activities (SOFA) and Balance Sheet consolidate the financial statements of the Company and the Endowment Trust. The results of the Endowment Trust are consolidated on a line by line basis.

1.2 Company Status

The Company is a company limited by guarantee. The members of the Company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Company.

1.3 Going Concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern

1.4 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the Company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Company which is the amount the Company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

13

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and governance costs are costs incurred on the Company's educational operations, including support costs and costs relating to the governance of the Company apportioned to charitable activities.

The Trust operates a partial exemption scheme for VAT purposes and the irrecoverable input VAT is shown separately as an expense within other expenditure.

1.6 Basis of consolidation

The financial statements consolidate the accounts of Ditchling Museum of Art + Craft and all of its subsidiary undertakings (“subsidiaries”, together “the Group”).

The Company has taken advantage of the exemption contained within 408 of the Companies Act 2006 not to present its own Income and expenditure account.

The income and expenditure account for the year dealt with in the accounts of the Company was net income of £75,184 (2020: net expenditure of £52,812).

1.7

Tangible fixed assets and depreciation

All acquisition assets are capitalised. All other assets costing more than £1,000 are capitalised.

Heritage assets comprise the collection of artefacts and exhibits that are held by the Trust. Such assets that were acquired by the Endowment Trust prior to March 2005 are not included as capital items in these accounts.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property – straight line over 50 years Fixtures and fittings – straight line over 5 years Museum collection – not depreciated

14

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

1.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the bank.

1.10 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term

1.11 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.12 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.14 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.15 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.16 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore

15

(A company limited by guarantee)

DITCHLING MUSEUM OF ART + CRAFT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.17 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

1.18 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.19 Critical accounting estimates and areas of judgement

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances

Critical accounting estimates and assumptions:

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

Depreciation: The Company exercises judgement to determine useful lives and residual values of property, plant and equipment. The assets are depreciated down to their residual values over their estimated useful lives.

2. INCOME FROM DONATIONS AND GRANTS

Donations and grants Total 2020	Unrestricted funds 2021 £ 147,617 105,566	Restricted funds 2021 £ 225,881 _96,632 _	Endowment funds 2021 £ - -	Total funds 2021 Total funds 2020 £ £ 373,498 200,198 200,198

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. INCOME FROM CHARITABLE ACTIVITIES

Visitors Education income Total 2020	Unrestricted funds 2021 £ 10,608 1,742 12,350 80,134	Restricted funds 2021 £ - - - -	Endowment funds 2021 £ - - - -	Total funds 2021 £ 10,608 1,742 12,350 80,134	Total funds 2020 £ 48,330 31,804
					_80,134 _

4. TRADING ACTIVITIES

Unrestricted funds 2021 £ Charity trading income Sales 45,149 Café 3,587 Venue hire 333 Corporate sponsorship - 49,069 Fundraising trading expenses Fundraising 172 Marketing and development 2,019 Café purchases 2,880 Cost of sales 21,412 Training, travel and recruitment 99 Bad debt expense 460 Investment management fees - General office costs 3,275 Support costs 20,330 50,647 Net expenditure from trading activities (1,578)	Restricted funds 2021 £ - - - - - - 10,401 - 7,837 - - - 429 32,771 51,438 (51,438)	Endowment funds 2021 £ - - - - - - - - - - - 506 - - 506 (506)	Total funds 2021 £ 45,149 3,587 333 - 49,069 172 12,420 2,880 29,429 99 460 506 3,704 53,101 102,591 (53,522)	Total funds 2020 £ 82,735 26,276 4,039 3,000
				116,050
				14,952 12,958 12,857 47,416 437 2,209 565 5,012 80,858
				_177,264 _
				(61,214)

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5. INVESTMENT INCOME

Interest and dividends Total 2020	Unrestricted funds 2021 Restricted funds 2021 Endowment funds 2021 Total funds 2021 Total funds 2020 £ £ £ £ £ 58 - 4,883 4,941 6,747 157 - 6,590 6,747

6. DIRECT COSTS

Schools projects Exhibition expenses Premises costs Bank & credit card charges Bank loan interest Irrecoverable VAT Sundry expenses Organisational development Staff costs Depreciation Total 2020 UPPORT COSTS General office costs Travel Training and conferences Support costs - wages and salaries Total 2020	Charitable activities 2021 £ 16,884 17,006 42,6341 434 1,906 4,464 365 5,221 115,559 46,455 250,928 225,604 Charitable activities 2021 £ 5,686 3 110 16,340 22,139 26,089	Total 2021 £ 16,884 17,006 42,6341 434 1,906 4,464 365 5,221 115,559 46,455 250,928 225,604 Total 2021 £ 3,343 247 250 22,249 26,089 26,089	Total 2020 £ 19,807 31,098 41,381 835 2,088 743 153 74 82,120 47,305
			_225,604 _
			Total 2020 £ 3,343 247 250 22,249
			26,089

7. SUPPORT COSTS

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8. GOVERNANCE COSTS

Independent examiners’ remuneration Accountancy services Legal and other professional fees Training and travel costs General office costs Governance expense - wages and salaries	Unrestricted funds 2021 £ 1,950 990 392 13 446 3,524 7,315	Total funds 2021 £ 1,878 40 859 60 401 3,492 6,730	Total funds 2020 £ 1,878 40 859 60 401 _3,492 _
			6,730

9. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Expenditure on fundraising trading Expenditure on investment management Costs of generating funds Direct costs - charitable activities Expenditure on governance Total 2020	Staff costs 2021 £ 53,101 - 53,101 115,558 3,524 172,184 166,470	Depreciation 2021 £ - - - 46,455 - 46,455 47,305	Other costs 2021 £ 48,984 506 49,490 111,053 3,791 164,334 221,913	Total 2021 £ 102,085 506 102,591 273,067 7,315 382,973 435,688	Total 2020 £ 176,699 565
					177,264 251,694 6,730
					435,688

10. STAFF COSTS

Staff costs were as follows:

Wages and salaries Social security costs Other pension costs	2021 £ 177,568 7,512 3,383 188,463	2020 £ 174,602 10,548 3,510 188,660

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

The average number of persons employed by the Company during the year was as follows:

	2021	2020
	No.	No.
Charitable activity	10	11

No employee received remuneration amounting to more than £60,000 in either year.

The aggregate remuneration of key management personnel, who comprise the Trustees, Chief Executive Officer and General Manager, was £67,788 (2020: £61,490).

11. TRUSTEES’ REMUNERATION

No emoluments were paid by the Company to any Trustees during the year (2020: £nil). No business expenses were reimbursed to Trustees during the year (2020: £nil).

12. TANGIBLE FIXED ASSETS

Group and Company Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Freehold property £ 2,173,573 - 2,173,573 301,596 43,471 345,067 1,828,506 1,871,977	Fixtures and fittings £ 48,814 - 48,814 44,813 2,984 47,797 1,017 _4,001 _	Museum collection £ 345,696 259 345,955 - - - 345,955 345,696	Total £ 2,568,083 259
				2,568,342
				346,409 46,455
				392,864
				2,175,478
				_2,221,674 _

The freehold property, fixtures and fittings and the Museum collection were transferred to the Trust from the Endowment Trust on 22 March 2010 at the value recorded in the Endowment Trust. Subsequently the freehold property was re-valued according to a valuation for insurance purposes.

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The areas of particular strength within the Trust’s collection are as follows:

• Collection of works of international importance made by Eric Gill and the craftsmen of the Guild of St. Joseph & St. Dominic and associates, including silverwork, sculpture, stonework, wood carving, engraving, weaving, printing and lettering

• Works by David Jones including ‘Madonna and Child in the Landscape’

• Collection of fine art by Ditchling artists including a large collection of oils by Louis Ginnett

• Large collection of weaving by Ethel Mairet and Hilary Bourne

• Representative collection of works of calligraphy and lettering by Edward Johnston

• The Stanhope Press used by St Dominic’s Press and a comprehensive collection of work by St. Dominic’s Press and Ditchling Press including pamphlets, labels, cards and posters.

• Evan Gill collection; a comprehensive collection of works (books, correspondence, juvenilia, ephemera) by Eric Gill and St Dominic’s Press books annotated by his brother Evan.

The value of the museum collection as at 31 March 2020 has not been included in these accounts as insufficient information is available to obtain a reliable estimate of the original cost of those items.

However, the Trustees are in the process of obtaining a detailed current estimated valuation. All significant items that have been acquired by the Endowment Trust and the Trust since 31 March 2005 have been included in the accounts at their cost or estimated valuation at the time of the acquisition.

13. FIXED ASSET INVESTMENTS

IXED ASSET INVESTMENTS
Group and Company market value At 1 April 2020 Additions Disposals Revaluations Movement on cash account At 31 March 2021	Listed securities £ 132,782 67,863 (58,672) 18,299 - 160,272	Other investments £ 12,141 - - - (9,742) 2,399	Total £ 144,923 67,863 (58,672) 18,299 (9,742)
			162,671

14. STOCK

Finished goods and goods for resale	Group and Company	Group and Company
	2021 £ 33,298	2020 £ 36,574

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. DEBTORS

Prepayments and accrued income Other debtors	**Group and **	Company
	2021 £ 38,828 1,874 40,702	2020 £ 4,638 5,867
		10,505

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts Other taxation and social security Other creditors Accruals and deferred income	**Group and **	Company
	2021 £ 6,168 2,495 19,814 1,600 30,077	2020 £ 5,046 534 6,354 30,188
		42,122

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans Endowment loan		Group 2020 £ 24,398 - 24,398		Company
	2021 £ 21,776 - 21,776		2021 £ 21,776 229,047 250,823	2020 £ 24,398 229,047
				253,445

Creditors include amounts not wholly repayable within 5 years as follows

	Group 2020 £ 24,398	Company
2021 £ 21,776		2021 2020 £ £ 21,776 24,398

The bank loan is repayable by monthly instalments. The interest rate on the loan is 6.5% per annum.

The loan is secured by a charge on the property owned by the Company.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

18. STATEMENT OF FUNDS

STATEMENT OF FUNDS – CURRENT YEAR Balance at 1 April 2020 Income Expenditure £ £ Unrestricted funds General funds 755,960 209,094 (156,682) Endowment funds Endowment trust 229,047 - - Sackler endowment fund 144,923 4,883 (506) 373,970 4,883 (506) Restricted funds Fund 1 - Acquisitions 3,875 - - Fund 2 22,500 - (5,000) Fund 3 4,203 17,185 (24,552) Fund 4 2,828 7,790 (9,448) Fund 5 5,790 - - Fund 6 2,751 - - Fund 7 500 - - Fund 8 5,000 - - Fund 9 4,431 - - Fund 10 7,880 - - Fund 11 1,779 - - Fund 12 40 - - Fund 13 77 - (77) Fund 14 13,878 - - Fund 15 3,742 - - Fund 16 - 14,000 (8,401) Fund 17 - 7,430 (7,430) Fund 18 - 5,626 - Fund 19 - 60,100 (60,100) Fund 20 - 98,000 (75,159) Fund 21 - 1,000 (1,000) Fund 22 - 3,000 (3,000) Fund 23 - 4,750 - Fund 24 - 7,000 - Sub total 79,274 225,881 (196,172) Capital development fund 1,246,639 - (29,613) 1,325,913 225,881 (225,785) Total of funds 2,455,843 439,858 (382,973)	Transfers in/out £ 23,377 - (4,928) (4,928) - - 3,535 (1,170) - (2,751) - - (2,005) - - (40) - (66) 4,884 (1,500) - - - (22,841) - - - - (19,949) 1,500 (18,449) -	Gains/ (losses) £ - - 18,299 18,299 - - - - - - - - - - - - - - - - - - - - - - - - - - - 18,299	Balance at 31 March 2021 £ 831,749
			229,047 162,671
			391,718
			3,875 17,500 371 - 5,790 - 500 5,000 2,426 7,880 1,779 - - 13,812 8,626 4,099 - 5,626 - - - - 4,750 7,000
			89,034 1,218,526
			1,307,560
			2,531,027

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

STATEMENT OF FUNDS – PRIOR YEAR

Unrestricted funds General funds Endowment funds Endowment trust Sackler endowment fund Restricted funds Fund 1 - Acquisitions Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Fund 7 Fund 8 Fund 9 Fund 10 Fund 11 Fund 12 Fund 13 Fund 14 Fund 15 Fund 26 Fund 27 Fund 28 Fund 29 Fund 30 Fund 31 Fund 32 Fund 33 Fund 34 Fund 35 Fund 36 Fund 37 Sub total Capital development fund Total of funds	Balance at 1 April 2019 765,237 229,047 165,741 394,788 2,750 - - 20,375 - 2,825 - - - 18,880 1,779 - 2,990 - 1,517 8,049 11,287 - 862 - 2,663 - - - - - 3,125 77,102 1,271,528 1,348,630 2,508,655	Income £ 299,907 - 6,590 6,590 1,350 22,500 29,950 - 5,790 - 500 5,000 4,475 - - 40 - 14,173 - 1,944 1,490 585 - 3,500 - 2,500 1,575 810 400 50 - 96,632 - 96,632 403,129	Expenditure £ (302,525) - (565) (565) - - (25,747) (17,547) - (74) - - (44) (11,000) - - (2,913) (295) (4,365) (12,153) (12,777) (585) (862) (3,500) (2,663) (2,500) (1,575) (810) (400) (50) (3,125) (102,985) (29,613) (132,598) (435,688)	Transfers in/out £ (6,659) - (6,590) (6,590) (225) - - - - - - - - - - - - - 6,590 2,160 - - - - - - - - - - - 8,525 4,724 13,249 -	Gains/ (losses) £ - - (20,253) (20,253) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (20,253)	Balance at 31 March 2020 £ 755,960
						229,047 144,923
						373,970
						3,875 22,500 4,203 2,828 5,790 2,751 500 5,000 4,431 7,880 1,779 40 77 13,878 3,742 - - - - - - - - - - - -
						79,274 1,246,639
						1,325,913
						2,455,843

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Restricted Funds

Fund 1 - Acquisitions fund To contribute to a specific programme of acquisitions for the museum collection	Fund 17 – Art Fund Createtorelate To deliver a digital programme during Covid-19 lockdown
Fund 2 To explore the different LGBTQ and disability stories of our permanent collection	Funds 19, 20, 21 Covid-19 emergency funding towards core and project costs
Fund 3 For fundraisers to develop partnerships and philanthropy and deliver the new fundraising strategy	Fund 22 Towards Summer student internship
Funds 4 + 25 St Dominic’s Press acquisition and programme	Funds 23 + 33 Towards the Hamada exhibition, including a research visit to Japan by the Director
Funds 5, 7, 8, 32 For learning enterprise projects	Fund 24 Clore foundation Towards a Summer 2021 blended learning project
Fund 6 Contribution to the development of the SEWS Facilities Managers’ Forum	Fund 26 For the development of integrated data collection to make the Museum more sustainable
Fund 9 For a project with elders in rural settings	Fund 27 Towards the Women’s Work exhibition programme and residencies
Fund 10 To support the Phase 2 Development Plan	Fund 28 For a project with young people identifying as LGBTQ+
Fund 11 For capital improvements to ensure high quality loans in the William & Margaret Rowling Gallery	Fund 29 Contribution to the Jane Pitt exhibition Maunder Maps
Fund 12 Towards a project with Outside In	Fund 31 Towards a project for elders with Action for Rural Sussex
Fund 13 For creative collaborations with Ditchling Primary School	Funds 34, 35, 36 Towards a lettering competition for young people
Funds 14 + 18 Towards a Building Reserve Fund
Fund 15 Endowment interest for use on programming the William & Margaret Rowling Gallery
Funds 16, 21, 30 Towards the John Newling exhibition

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

SUMMARY OF FUNDS – CURRENT YEAR

General funds Endowment funds Restricted funds	Balance at 1 April 2020 £ 765,237 394,788 1,348,630 2,508,655	Income £ 209,094 4,883 225,881 439,858	Expenditure £ (156,682) (506) (225,783) (382,973)	Transfers in/out £ 23,377 (4,928) (18,449) -	Gains/ (losses) £ - 18,299 - 18,299	Balance at 31 March 2021 £ 831,749 391,718 1,307,560
						2,531,027

SUMMARY OF FUNDS – PRIOR YEAR

General funds Endowment funds Restricted funds	Balance at 1 April 2019 £ 765,237 394,788 1,348,630 2,508,655	Income £ 299,907 6,590 96,632 403,129	Expenditure £ (302,525) (565) (132,598) (435,633)	Transfers in/out £ (6,659) (6,590) 13,249 -	Gains/ (losses) £ - (20,253) - (20,253)	Balance at 31 March 2020 £ 755,960 373,970 1,325,913
						2,455,843

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Analysis of Net Assets Between Funds – Current Year

Current assets Creditors due within one year Creditors due in more than one year Net assets before fixed assets Tangible fixed assets Fixed asset investments	Unrestricted funds 2021 £ (73,350) (23,909) - (97,259) 929,008 - 831,749	Restricted funds 2021 £ 89,034 (6,168) (21,776) 61,090 1,246,470 - 1,307,560	Endowment funds 2021 £ 229,047 - - 229,047 - 162,671 391,718	Total funds 2021 £ 244,731 (30,077) (21,776)
				192,878 2,175,478 162,671
				2,531,027

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Analysis of Net Assets Between Funds – Prior Year

Current assets Creditors due within one year Creditors due in more than one year Net assets before fixed assets Tangible fixed assets Fixed asset investments	Unrestricted funds 2020 £ (152,555) (37,076) - (189,631) 945,591 - 755,960	Restricted funds 2020 £ 79,274 (5,046) (24,398) 49,830 1,276,083 - 1,325,913	Endowment funds 2020 £ 229,047 - - 229,047 - 144,923 373,970	Total funds 2020 £ 155,766 (42,122) (24,398)
				89,246 2,221,674 144,923
				2,455,843

20. PENSION COMMITMENTS

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £3,383 (2020: £3,510). Contributions totalling £nil (2020: £627) were payable to the fund at the balance sheet date and are included in creditors.

21. RELATED PARTY TRANSACTIONS

The Group has had no transactions with related parties during the year.

22. PRINCIPAL SUBSIDIARIES

Subsidiary name Ditchling Museum Endowment Trust Charity registration number 290075 Basis of control Trust agreement Total assets as at 31 March 2021 £229,047 Total liabilities as at 31 March 2021 £Nil Total funds as at 31 March 2021 £229,047 Gross income for the year ended 31 March 2021 £Nil Expenditure for the year ended 31 March 2021 £Nil Net movement in funds for the year ended 31 March 2021 £Nil

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