**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 2023**
## **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|
|Notes to the Financial Statements|13|
**(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 2023**
## **President**
Her Majesty Queen Camilla
## **Patrons**
Mrs Jenny Kilbride Roberts MBE DL
## **Trustees**
Carol Watts, Chair Isilda Almeida Gavin Ambrose Brian Cohen Ruth Cribb Robert Griffiths Penelope Jones Ashley Knowles Joanna Myles Mathew Clayton Philippa Hobson
## **Honorary Legal Counsel**
Amanda Gray
## **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
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 2023**
Clark Brownscombe St Andrews Place Lewes, East Sussex BN7 1UP **Bankers**
CAF Bank Ltd PO Box 289 Kings Hill West Malling Kent ME19 4TA
## **Investment Advisers**
Canaccord Genuity Wealth Management 9[th] Floor 88 Wood Street London EC2V 7QR
2
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
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 2022 to 31 March 2023. 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 2019) as amended by Update Bulletin 1 (effective 1 January 2019).
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 and establish the groundwork for future income generation in this pandemic recovery year.
3
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
- To retain relationships with diverse audiences and communities supported by Equality, Diversity and Inclusion activity and planning.
- To support staff wellbeing and financial security in so far as that was possible during this period of extreme uncertainty.
.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Collection and Exhibitions**
- Over the summer the museum presented Sir Frank Brangwyn’s Skinners Hall murals in collaboration with Skinners Hall. This was a unique opportunity for the public to see these paintings, normally installed in a private venue. Brangwyn’s use of local people from the village as models was celebrated with a photographic recreation of one of the mural panels using current residents.
- The much delayed Shoji Hamada: A Japanese Potter in Ditchling exhibition was presented over the winter period and was a huge success. Opened by the Japanese Ambassador to the UK, it went on to achieve strong visitor numbers and excellent press coverage.
- The Different Stories project researching untold stories within our collection completed during this period, with several successful public events. We hope to develop some of the research into exhibition material in the future. Current outcomes include an Easy Read guide to the museum, video guide to access and the production of textile handling samples to extend the visitor experience at the museum.
## **Learning and Community**
- The museum developed an Equality, Diversity and Inclusion action plan, led by an internal group and supported by the board. This has resulted in changes to procurement and recruitment of a larger pool of arts and crafts educators as delivery partners.
- The whole school project with St Margaret’s Ditchling took place using photography to produce a mural for the school.
- The in person learning programme was fully restored with good take up, including free Crafternoon sessions.
## **Communication and Audience Development**
- This year we welcomed 11,150 visitors, 19% down on normal numbers in an average year pre-covid.
- Audience surveys reported a very high level of satisfaction with their experience.
- We won a Beautiful South Award in the category Best Small Visitor Attraction, with judges commending the quality of our visitor experience and warm front of house staff.
## **Commercial**
- We returned to in person café service this year. Over all commercial performance has been good reflecting the return to in person participation.
- The museum was awarded a place on the Heritage Compass business development programme to support commercial development with the Retail Manager and Director both taking part.
## **Governance**
- The Board returned to quarterly meeting during this period.
- The Finance and Income Generation Committee met monthly throughout the year, leading work on financial scenario planning to support prudent financial management.
4
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
- Trustees took part in shared business planning and development work with the staff team.
## **Business Review, Investment Policy and Reserves**
During the year the Trust’s consolidated funds decreased by £193,943 (2022: decrease of £36,953), comprising income of £343,977 (2022: £363,006), expenditure of £521,504 (2022: £404,451) and losses on investment assets of £16,416 (2022: gains of £4,492). Consolidated reserves carried forward at 31 March 2023 totalled £2,300,131 (2022: £2,494,074). Of this amount £737,810 (2022: £796,747) is unrestricted, £326,783 (2022: £395,150) are Endowment Funds and the balance of £1,235,538 (2022: £1,302,177) is restricted. The restricted funds at 31 March 2023 predominantly comprise the development fund of £1,172,063 (2022: £1,195,081), 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 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 £737,810 at 31 March 2023 (2022: £796,747) 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 Isilda Almeida (appointed 9 June 2022) Gavin Ambrose Brian Cohen Ruth Cribb Robert Griffiths Penelope Jones Ashley Knowles Anna Zeuner (resigned 9 September 2022) Joanna Myles Mathew Clayton Philippa Hobson
## **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**
5
**(A company limited by guarantee)**
## **DITCHLING MUSEUM OF ART + CRAFT**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
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 Collection and Buildings Officer, part-time Retail Manager, part time Visitor Services Manager, two part-time Visitor Services Assistants, a part-time Collection Curator; a part-time Communications Manager and a part time PA.
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 Staf
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**
This year was seen by the Board as a transitional year of recovery and learning from the pandemic period, integrating learning around digital for audience development and commercial activity into future strategy. In particular the Board responded to the cost of living crisis with a
6
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
pay review process and worked closely with the team to lay the groundwork for future income generation. The new Business Plan will be formalised in early 2024 following work with Heritage Compass.
## **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.
This report was approved by the Trustees on 14 December 2023 and signed on their behalf by:
## **Professor Carol Watts Chair**
7
**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 2023**
I report on the financial statements of the charity for the year ended 31 March 2023, which are set out on pages 9 to 27.
## **Responsibilities and basis of report**
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s report**
Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- (2) the accounts do not accord with those accounting records; or
- (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Victoria Anderson BA (Hons) FCA DChA Chartered Accountant Clark Brownscombe 2 St Andrews Place Lewes, East Sussex, BN7 1UP
Date: 21 December 2023
8
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Not**
**e**
**Unrestricte**
**d funds**
**2023**
**£**
**Income**
**and**
**endowments**
**from:**
Donations and grants
2
25,050
Charitable activities
3
81,986
Other trading activities
4
91,185
Investments
5
714
**Total income and endowments**
**198,935**
**Expenditure on:**
Raising funds
4
110,005
Charitable activities
6,7,
8
209,898
**Total expenditure**
9
**319,903**
**Net income/(expenditure)**
**before investment**
**gains/(losses)**
**(120,968**
**)**
Net
gains/(losses)
on
investments
13
-
**Net**
**income/(expenditure)**
**before transfers**
**(120,968**
**)**
Transfers between Funds
18
62,031
**NET MOVEMENT IN FUNDS**
**(58,937)**
**RECONCILIATION OF FUNDS**
Total
funds
brought
forward
796,747
**TOTAL FUNDS CARRIED**
**737,810**|**Restrict**
**ed funds**
**2023**
**£**
140,743
-
-
-
**140,743**
13,299
187,052
**200,351**
**(59,608)**
-
**(59,608)**
(7,031)
**(66,639)**
1,302,17
7
**1,235,5**|**Endowme**
**nt funds**
**2023**
**£**
-
-
-
4,299
**4,299**
1,250
-
**1,250**
**3,049**
(16,416)
**(13,367)**
(55,000)
**(68,367)**
395,150
**326,783**|**_Total_**
**_funds_**
**_2023_**
**£**
165,793
81,986
91,185
5,013
**343,977**
124,554
396,950
**521,504**
**(177,52**
**7)**
(16,416)
**(193,94**
**3)**
-
**(193,94**
**3)**
2,494,0
74
**2,300,1**|_Total_
_funds_
_2022_
£
_174,10_
_2_
_101,23_
_0_
_83,153_
_4,521_|
|---|---|---|---|---|
|||||_363,00_
_6_|
|||||_127,92_
_0_
_276,53_
_1_|
|||||_404,45_
_1_|
|||||_(41,445_
_)_
_4,492_|
|||||_(36,953_
_)_
_-_|
|||||_(36,953_
_)_
_2,531,_
_027_|
|||||_2,494,0_|
|||||9|
## **DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
**CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
**FORWARD 38 31** _74_
The notes on pages 13 to 27 form part of these financial statements.
10
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT Excluding Endowment Funds FOR THE YEAR ENDED 31 MARCH 2023**
|**Not**
**e**
**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**
**fnancial year**
18|**Unrestricte**
**d funds**
**2023**
**£**
198,935
(319,903)
**(120,968)**
62,031
**(58,937)**|**Restrict**
**ed**
**funds**
**2023**
**£**
140,743
(200,351
)
**(59,608)**
(7,031)
**(66,639)**|**_Total_**
**_funds_**
**_2023_**
**£**
339,678
(520,25
4)
**(180,57**
**6)**
55,000
**(125,57**
**6)**|_Total_
_funds_
_2022_
£
_358,51_
_3_
_(403,89_
_8)_|
|---|---|---|---|---|
|||||_(45,385_
_)_
_5,000_|
|||||_(40,385_
_)_|
11
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee – Registered Number 06670805)**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023**
|**Not**
**e**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Stock
14
Debtors
15
Cash in hand
**Creditors: amounts falling due**
**within one year**
16
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
17
**Net assets**
**Charity funds**
Endowment funds
18
Restricted funds
18
Unrestricted funds
18
**Total Funds**|**£**
31,259
5,782
112,052
**149,093**
**(28,075)**|**2023**
**£**
2,089,52
6
97,736
**2,187,2**
**62**
**121,018**
**2,308,2**
**80**
(8,149)
**2,300,1**
**31**
326,783
1,235,53
8
737,810
**2,300,1**
**31**|**£**
_32,192_
_27,587_
_169,39_
_7_
_229,17_
_6_
_(17,014_
_)_|_2022_
£
_2,130,99_
_0_
_166,103_|
|---|---|---|---|---|
|||||_2,297,09_
_3_
_212,162_|
|||||_2,509,25_
_5_
_(15,181)_|
|||||_2,494,0_
_74_|
|||||_395,150_
_1,302,17_
_7_
_796,747_|
|||||_2,494,07_
_4_|
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.
12
## **DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee – Registered Number 06670805)**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023**
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 2023 and signed on their behalf by:
## **Prof. Carol Watts**
The notes on pages 13 to 27 form part of these financial statements.
13
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee – Registered Number 06670805)**
## **COMPANY BALANCE SHEET AS AT 31 MARCH 2023**
|**Not**
**e**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Stock
14
Debtors
15
Cash in hand
**Creditors: amounts falling due**
**within one year**
16
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
17
**Net assets**
**Charity funds**
Endowment funds
Restricted funds
Unrestricted funds
**Total Funds**|**£**
31,259
5,782
112,052
**149,093**
**(28,075)**|**2023**
**£**
2,089,52
6
97,736
**2,187,2**
**62**
**121,018**
**2,308,2**
**80**
(237,196
)
**2,071,0**
**84**
97,736
1,235,53
8
737,810
**2,071,0**
**84**|**£**
_32,192_
_27,587_
_169,39_
_7_
_229,17_
_6_
_(17,014_
_)_|_2022_
£
_2,130,99_
_0_
_166,103_|
|---|---|---|---|---|
|||||_2,297,09_
_3_
_212,162_|
|||||_2,509,25_
_5_
_(244,22_
_8)_|
|||||_2,265,02_
_7_|
|||||_166,103_
_1,302,17_
_7_
_796,747_|
|||||_2,265,02_
_7_|
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.
14
## **DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee – Registered Number 06670805)**
## **COMPANY BALANCE SHEET AS AT 31 MARCH 2023**
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 2023 and signed on their behalf, by:
## **Prof Carol Watts**
The notes on pages 13 to 27 form part of these financial statements.
15
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 2019) - (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.
16
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
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.
## **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 expenditure of £193,943 (2022: net expenditure of £36,953).
## **1.7 Tangible fixed assets and depreciation**
All acquisition assets are capitalised. All other assets costing more than £1,000 are
17
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
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
## **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.
18
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 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**
19
**(A company limited by guarantee)**
## **DITCHLING MUSEUM OF ART + CRAFT**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
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 2022_|**Unrestricte**
**d funds**
**2023**
**£**
**25,050**
_32,047_|**Restrict**
**ed**
**funds**
**2023**
**£**
**140,743**
_142,055_|**Endowme**
**nt funds**
**2023**
**£**
**-**
_-_|**Total**
**funds**
**2023**
**£**
**165,79**
**3**
_174,10_
_2_|_Total_
_funds_
_2022_
£
_174,10_
_2_|
|---|---|---|---|---|---|
|||||||
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|Visitors
Education income
_Total 2022_|**Unrestricte**
**d funds**
**2023**
**£**
76,678
5,308
**81,986**
_101,230_|**Restrict**
**ed**
**funds**
**2023**
**£**
-
-
**-**
_-_|**Endowme**
**nt funds**
**2023**
**£**
-
-
**-**
_-_|**Total**
**funds**
**2023**
**£**
76,678
5,308
**81,986**
_101,23_
_0_|_Total_
_funds_
_2022_
£
_83,860_
_17,370_|
|---|---|---|---|---|---|
||||||_101,23_
_0_|
|||||||
20
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **4. TRADING ACTIVITIES**
|**Unrestricte**
**d funds**
**2023**
**£**
**Charity trading income**
Sales
71,863
Café
17,516
Venue hire
1,806
**91,185**
**Fundraising trading expenses**
Fundraising
89
Marketing
and
development
2,460
Café purchases
8,502
Cost of sales
42,114
Training,
travel
and
recruitment
351
Investment management
fees
-
General ofce costs
6,505
Support costs
49,984
**110,005**
**Net expenditure from**
**trading activities**
**(18,820)**|**Restrict**
**ed**
**funds**
**2023**
**£**
-
-
-
**-**
-
4,581
541
297
-
-
-
7,880
**13,299**
**(13,299)**|**Endowme**
**nt funds**
**2023**
**£**
-
-
-
**-**
-
-
-
-
-
1,250
-
-
**1,250**
**(1,250)**|**Total**
**funds**
**2023**
**£**
71,863
17,516
1,806
**91,185**
89
7,041
9,043
42,411
351
1,250
6,505
57,864
**124,55**
**4**
**(33,36**
**9)**|_Total_
_funds_
_2022_
£
_67,251_
_12,282_
_3,620_|
|---|---|---|---|---|
|||||_83,153_|
|||||_1,353_
_15,332_
_5,530_
_45,494_
_476_
_553_
_6,470_
_52,712_|
|||||_127,92_
_0_|
|||||_(44,76_
_7)_|
## **5. INVESTMENT INCOME**
|||**Restrict**||||
|---|---|---|---|---|---|
||**Unrestricte**|**ed**|**Endowme**|**Total**|_Total_|
||**d funds**|**funds**|**nt funds**|**funds**|_funds_|
||**2023**|**2023**|**2023**|**2023**|_2022_|
||**£**|**£**|**£**|**£**|£|
|Interest and dividends|**714**|**-**|**4,299**|**5,013**|_4,521_|
21
**(A company limited by guarantee)**
## **DITCHLING MUSEUM OF ART + CRAFT**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
_Total 2022 28 - 4,493 4,521_
## **6. DIRECT COSTS**
|Schools projects
Exhibition expenses
Premises costs
Bank & credit card charges
Bank loan interest
Irrecoverable VAT
Sundry expenses
Staf costs
General ofce costs
Depreciation
**UPPORT COSTS**
General ofce costs
Travel
Training and conferences
Support costs - wages and salaries|**Charitabl**
**e**
**activities**
**2023**
**£**
28,532
58,723
58,959
363
1,218
9,888
377
138,551
-
43,973
**340,584**
**Charitabl**
**e**
**activities**
**2023**
**£**
7,394
191
209
8,183
**15,977**|**Total**
**2023**
**£**
28,532
58,723
58,959
363
1,218
9,888
377
138,55
1
-
43,973
**340,58**
**4**
**Total**
**2023**
**£**
7,394
191
209
7,028
**12,747**|_Total_
_2022_
£
_18,375_
_16,811_
_27,176_
_417_
_1,645_
_6,064_
_150_
_122,87_
_4_
_1,563_
_44,488_|
|---|---|---|---|
||||_239,56_
_3_|
||||_Total_
_2022_
£
_5,580_
_107_
_32_
_7,028_|
||||_12,747_|
## **7. SUPPORT COSTS**
## **8. GOVERNANCE COSTS**
|**Unrestric**|**Restricte**|**Total**|_Total_||
|---|---|---|---|---|
|**ted funds**|**d funds**|**funds**|_funds_||
|**2023**|**2023**|**2023**|_2022_||
|||||22|
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|Independent
examiners’
remuneration
Accountancy services
Legal and other professional fees
Training and travel costs
General ofce costs
Governance expense - wages and
salaries|**£**
2,163
29,140
255
48
887
5,082
**37,575**|**£**
-
-
2,814
-
-
-
**2,814**|**£**
2,163
29,140
3,069
48
887
5,082
**40,389**|£
_1,895_
_16,657_
_1,360_
_6_
_669_
_3,634_|
|---|---|---|---|---|
|||||_24,221_|
## **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 2022_|**Staf**
**costs**
**2023**
**£**
57,864
-
**57,864**
138,551
5,082
**201,497**
_179,220_|**Depreciati**
**on**
**2023**
**£**
-
-
**-**
43,973
-
**43,973**
_44,488_|**Other**
**costs**
**2023**
**£**
65,440
1,250
**66,690**
174,037
35,307
**276,03**
**4**
_180,743_|**Total**
**2023**
**£**
123,30
4
1,250
**124,55**
**4**
356,56
1
40,389
**521,50**
**4**
_404,45_
_1_|_Total_
_2022_
£
_127,36_
_7_
_553_|
|---|---|---|---|---|---|
||||||_127,92_
_0_
_252,31_
_0_
_24,221_|
||||||_404,45_
_1_|
|||||||
## **10. STAFF COSTS**
Staff costs were as follows:
Wages and salaries
|**2023**|_2022_|
|---|---|
|**£**|£|
|199,93|_173,35_|
|0|_3_|
23
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|Social security costs
4,538
Other pension costs
3,812
**208,28**
**0**
he average number of persons employed by the Company during the year was as
**2023**
**No.**
Charitable activity
10|_8,051_
_3,188_|
|---|---|
||_184,59_
_1_|
||follows:
_2022_
_No._
_10_|
The average number of persons employed by the Company during the year was as follows:
No employee received remuneration amounting to more than £60,000 in either year.
The aggregate remuneration of key management personnel, who comprise the Trustees and Chief Executive Officer was £49,539 (2022: £49,539).
## **11. TRUSTEES’ REMUNERATION**
No emoluments were paid by the Company to any Trustees during the year (2022: £nil). No business expenses were reimbursed to Trustees during the year (2022: £nil).
## **12. TANGIBLE FIXED ASSETS**
|**Group and Company**
**Cost**
At 1 April 2022
Additions
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Charge for the year
**At 31 March 2023**|**Freehol**
**d**
**propert**
**y**
**£**
2,173,57
3
-
**2,173,5**
**73**
388,538
43,471
**432,009**|**Fixtures**
**and**
**fttings**
**£**
48,814
2,509
**51,323**
48,814
502
**49,316**|**Museu**
**m**
**collecti**
**on**
**£**
345,955
-
**345,95**
**5**
-
-
**-**|**Total**
**£**
2,568,34
2
2,509|
|---|---|---|---|---|
|||||**2,570,8**
**51**|
|||||437,352
43,973|
|||||**481,325**|
24
**DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**Net book value**
At 31 March 2023
_At 31 March 2022_|**1,741,5**
**64**
_1,785,03_
_5_|**2,007**
_-_|**345,95**
**5**
_345,955_|**2,089,5**
**26**|
|---|---|---|---|---|
|||||_2,130,99_
_0_|
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.
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 2022 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**
||**Other**||
|---|---|---|
|**Listed**|**investmen**||
|**securities**|**ts**|**Tota**l|
|**£**|**£**|£|
25
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **Group and Company market value**
|At 1 April 2022
Additions
Disposals
Revaluations
Movement on cash account
**At 31 March 2023**|161,349
146,100
(200,459)
(16,416)
-
**90,574**|4,754
-
-
-
2,408
**7,162**|166,103
146,100
(200,459
)
(16,416)
2,408|
|---|---|---|---|
||||**97,736**|
## **14. STOCK**
|Finished goods and goods for resale
**EBTORS**
Prepayments and accrued income
Other debtors|**Group and Company**|**Group and Company**|
|---|---|---|
||**2023**
**2022**
**£**
**£**
**31,259**
**32,192**
**Group and Company**|**2022**
**£**
**32,192**|
||**2023**
**£**
5,872
-
**5,872**|**2022**
**£**
27,587
-|
|||**27,587**|
## **15. DEBTORS**
## **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**|**Group and Company**|
|---|---|---|
||**2023**
**£**
7,032
6,644
12,524
1,875
**28,075**|**2022**
**£**
6,595
3,758
5,061
1,600|
|||**17,014**|
## **17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|**Group**
**2023**
_2022_|**Compan**
**y**|
|---|---|
||**2023**
_2022_|
26
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|Bank loans
Endowment loan|**£**
8,149
-
**8,149**|_£_
_15,181_
_-_
_15,181_|**£**
8,149
229,047
**237,19**
**6**|_£_
_15,181_
_229,047_|
|---|---|---|---|---|
|||||_244,228_|
Creditors include amounts not wholly repayable within 5 years as follows
||**Group**
_2022_
_£_
_15,181_||**Compan**
**y**|
|---|---|---|---|
|**2023**
**£**
**8,149**||**2023**
**£**
**8,149**|_2022_
_£_
_15,181_|
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.
## **18. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS – CURRENT YEAR**
|**Unrestricted**
**funds**
General funds
**Endowment**
**funds**
Endowment trust
Sackler
endowment fund
**Restricted funds**
Fund 1 -
Acquisitions
Fund 2
Fund 3
Fund 4|**Balance**
**at 1**
**April**
**2022**
**796,747**
229,047
166,103
**395,150**
3,875
16,250
5,790
500|**Income**
**£**
**198,935**
-
4,299
**4,299**
-
11,500
-
-|**Expenditu**
**re**
**£**
**(319,903)**
-
(1,250)
**(1,250)**
-
(27,750)
(5,790)
(500)|**Transfe**
**rs**
**in/out**
**£**
**62,031**
-
(55,000)
**(55,000**
**)**
-
-
-
-|**Gains/**
**(losses**
**)**
**£**
**-**
-
(16,416)
**(16,416**
**)**
-
-
-
-|**Balance**
**at 31**
**March**
**2023**
**£**
**737,810**|
|---|---|---|---|---|---|---|
|||||||229,047
97,736|
|||||||**326,783**|
|||||||3,875
-
-
-|
27
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|Fund 5
Fund 6
Fund 7
Fund 8
Fund 9
Fund 10
Fund 11
Fund 12
Fund 13
Fund 14
Fund 15
Fund 16
Fund 17
Fund 18
Fund 19
Fund 20
Fund 21
Fund 22
Fund 23
Fund 24
**Sub total**
Capital
development
fund
**Total of funds**|5,000
7,880
26,301
4,750
4,151
-
15,973
3,000
13,626
-
-
-
-
-
-
-
-
-
-
-
107,096
1,195,08
1
**1,302,1**
**77**
**2,494,0**
**74**|(43)
-
-
-
-
3,700
-
-
-
47,705
22,050
8,000
2,600
5,000
2,000
17,000
1,000
14,700
5,100
431
140,743
-
**140,743**
**343,977**|(4,957)
(7,880)
(26,301)
(4,750)
(4,151)
(3,700)
(12,796)
(3,000)
-
(47,705)
(13,420)
(6,632)
-
(1,405)
-
-
-
-
-
-
(170,738)
(29,613)
**(200,351)**
**(521,504)**|-
-
-
-
-
-
-
-
(13,626)
-
-
-
-
-
-
-
-
-
-
-
(13,626)
6,595
**(7,031)**
**-**|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**(16,416**
**)**|-
-
-
-
-
-
3,177
-
-
-
8,630
1,368
2,600
3,595
2,000
17,000
1,000
14,700
5,100
431|
|---|---|---|---|---|---|---|
|||||||63,475
1,172,06
3|
|||||||**1,235,53**
**8**|
|||||||**2,300,13**
**1**|
## **STATEMENT OF FUNDS – PRIOR YEAR**
|**Unrestricted**
**funds**
General funds
**Endowment**
**funds**
Endowment trust
Sackler
endowment fund|**Balance**
**at 1**
**April**
**2021**
_831,749_
_229,047_
_162,671_
_391,718_|**Income**
**£**
_216,458_
_-_
_4,493_
_4,493_|**Expenditu**
**re**
**£**
_(242,540)_
_-_
_(553)_
_(553)_|**Transfe**
**rs**
**in/out**
**£**
_(8,920)_
_-_
_(5,000)_
_(5,000)_|**Gains/**
**(losses**
**)**
**£**
_-_
_-_
_4,492_
_4,492_|**Balance**
**at 31**
**March**
**2022**
**£**
_796,747_|
|---|---|---|---|---|---|---|
|||||||_229,047_
_166,103_|
|||||||_395,150_|
|||||||28|
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**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 25_
_Fund 26_
_Fund 27_
_Fund 28_
_Fund 29_
_Fund 30_
_Fund 31_
_Fund 32_
**Sub total**
Capital
development
fund
**Total of funds**|_3,875_
_17,500_
_5,790_
_500_
_5,000_
_7,880_
_5,626_
_4,750_
_7,000_
_-_
_-_
_-_
_8,626_
_371_
_2,426_
_1,779_
_13,812_
_4,099_
_-_
_-_
_-_
_89,034_
_1,218,52_
_6_
_1,307,56_
_0_
_2,531,02_
_7_|_-_
_9,000_
_-_
_-_
_-_
_-_
_6,863_
_-_
_-_
_3,740_
_15,973_
_3,000_
_-_
_12,765_
_-_
_-_
_-_
_3,900_
_(2,752)_
_83,300_
_6,266_
_142,055_
_-_
_142,055_
_363,006_|_-_
_(10,250)_
_-_
_-_
_-_
_-_
_-_
_-_
_(2,849)_
_(3,740)_
_-_
_-_
_-_
_(13,136)_
_(2,426)_
_(1,779)_
_-_
_(7,999)_
_-_
_(83,300)_
_(6,266)_
_(131,745)_
_(29,613)_
_(161,358)_
_(404,451)_|_-_
_-_
_-_
_-_
_-_
_-_
_13,812_
_-_
_-_
_-_
_-_
_-_
_5,000_
_-_
_-_
_-_
_(13,812)_
_-_
_2,752_
_-_
_-_
_7,752_
_6,168_
_13,920_
_-_|_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_4,492_|_3,875_
_16,250_
_5,790_
_500_
_5,000_
_7,880_
_26,301_
_4,750_
_4,151_
_-_
_15,973_
_3,000_
_13,626_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|
|---|---|---|---|---|---|---|
|||||||_107,096_
_1,195,08_
_1_|
|||||||_1,302,17_
_7_|
|||||||_2,494,07_
_4_|
## **Restricted Funds**
Fund 1 - Acquisitions fund Fund 18 To contribute to a specific programme of SOS Chalk Cliff Trust £5,000 acquisitions for the museum collection
Fund 2 Fund 19 To explore the different LGBTQ and disability SEMD Museum Wide £2,000 stories of our permanent collection
29
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|Funds 3, 4, 5, 24
For learning enterprise projects|Fund 20
MEND Partnership £17,000|
|---|---|
|Fund 6
To support the Phase 2 Development Plan|Fund 21
Alan Swerdlow £1,000|
|Funds 7 & 28
Towards a Building Reserve Fund|Fund 22
Arts Council England - DCMS CRF3 £14,700|
|Fund 8 & 11
Towards the Hamada exhibition, including a
research visit to Japan by the Director|Fund 23
Rockerfeller Philanthropy £5,100|
|Fund 9 Clore foundation
Towards a blended learning project|Fund 25
For fundraisers to develop partnerships and
philanthropy and deliver the new fundraising
strategy|
|Fund 10
For a whole school creative project with St
Margaret’s Primary, Ditchling|Fund 26
For a project with elders in rural settings|
|Fund 12
Towards the creation of learning resources
for schools linked to the Brangwyn exhibition|Fund 27
For capital improvements to ensure high quality
loans in the William & Margaret Rowling Gallery|
|Fund 13
Endowment interest for use on programming
the William & Margaret Rowling Gallery|Fund 29
Towards the John Newling exhibition|
|Fund 14
Brangwyn £47,705|Fund 30
Contribution to the development of the SEWS
Facilities Managers’ Forum|
|Fund 15
Arts Council Engand Project Funding
(Hamada) £22,050|Fund 31
Covid-19 emergency funding towards core and
project costs|
|Fund 16
AIM Tackling Inequality Hallmark Awards
£8,000|Fund 32
Government support for a work placement
through the Kickstart scheme|
|Fund 17
South East Museum Devt £2,600||
## **SUMMARY OF FUNDS – CURRENT YEAR**
|**Balance**|||||**Balance**|
|---|---|---|---|---|---|
|**at 1**|||**Transf**|**Gains/**|**at 31**|
|**April**||**Expendit**|**ers**|**(losses**|**March**|
|**2022**|**Income**|**ure**|**in/out**|**)**|**2023**|
|**£**|**£**|**£**|**£**|**£**|**£**|
||||||30|
## **DITCHLING MUSEUM OF ART + CRAFT**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|General funds
796,747
198,935
Endowment funds
395,150
4,299
Restricted funds
1,302,17
7
140,743
**2,494,0**
**74**
**343,977**
**SUMMARY OF FUNDS – PRIOR YEAR**
_Balance_
_at 1_
_April_
_2021_
_Income_
_£_
_£_
General funds
_831,749_
_216,458_
Endowment funds
_391,718_
_4,493_
Restricted funds
_1,307,56_
_0_
_142,055_
_2,531,02_
_7_
_363,006_|(319,903)
(1,250)
(200,351)
**(521,504)**
_Expenditur_
_e_
_£_
_(242,540)_
_(553)_
_(161,358)_
_(404,451)_|62,031
(55,000
)
(7,031)
**-**
_Transfer_
_s in/out_
_£_
_(8,920)_
_(5,000)_
_13,920_
_-_|-
(16,416
)
-
**(16,41**
**6)**
_Gains/_
_(losses)_
_£_
_-_
_4,492_
_-_
_4,492_|737,810
326,783
1,235,53
8|
|---|---|---|---|---|
|||||**2,300,1**
**31**|
|||||_Balance_
_at 31_
_March_
_2022_
_£_
_796,747_
_395,150_
_1,302,17_
_7_|
|||||_2,494,07_
_4_|
## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **Analysis of Net Assets Between Funds – Current Year**
|**Unrestricted**
**funds**
**2023**
**£**
Current assets
(143,429)
Creditors due within one year
(21,043)
Creditors due in more than one
year
-
Net assets before fxed assets
(164,472)
Tangible fxed assets
902,282
Fixed asset investments
-
**737,810**|**Restrict**
**ed**
**funds**
**2023**
**£**
63,475
(7,032)
(8,149)
48,294
1,187,24
4
-
**1,235,5**
**38**|**Endowme**
**nt funds**
**2023**
**£**
229,047
-
-
229,047
-
97,736
**326,783**|**Total**
**funds**
**2023**
**£**
149,083
(28,075)
(8,149)|
|---|---|---|---|
||||112,869
2,089,52
6
97,736|
||||**2,300,1**
**31**|
31
**(A company limited by guarantee)**
## **DITCHLING MUSEUM OF ART + CRAFT**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 fxed assets
Tangible fxed assets
Fixed asset investments|_Unrestricted_
_funds_
_2022_
_£_
_(106,967)_
_(10,419)_
_-_
_(117,386)_
_914,133_
_-_
_796,747_|_Restricte_
_d funds_
_2022_
_£_
_107,096_
_(6,595)_
_(15,181)_
_85,320_
_1,216,85_
_7_
_-_
_1,302,17_
_7_|_Endowment_
_funds_
_2022_
_£_
_229,047_
_-_
_-_
_229,047_
_-_
_166,103_
_395,150_|_Total_
_funds_
_2022_
_£_
_229,176_
_(17,014)_
_(15,181)_|
|---|---|---|---|---|
|||||_196,981_
_2,130,99_
_0_
_166,103_|
|||||_2,494,07_
_4_|
## **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 £3,812 (2022: £3,188). Contributions totalling £698 (2022: £nil) 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 2023 £229,047 Total liabilities as at 31 March 2023 £Nil Total funds as at 31 March 2023 £229,047
32
## **DITCHLING MUSEUM OF ART + CRAFT**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
Gross income for the year ended 31 March 2023 £Nil Expenditure for the year ended 31 March 2023 £Nil
Net movement in funds for the year ended 31 March £Nil 2023
33