||||Page||
|---|---|---|---|---|
|Chairman's
Report||1|to|3|
|Report ofthe Trustees||4|to|10|
|Independent
Examiner's|Report||||
|Statement ofFinancial Activities|||12||
|Balance Sheet||13|to|14|
|Cash Flow Statement|||15||
|Notes to the Cash Flow|Statement||16||
|Notes to the Financial Statements||17|to|32|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||||
|INCOME|AND ENDOWMENTS FROM|||||||
|Donations|and legacies||3|51,446|17,151|68,597|114,479|
|Charitable|activities|||||||
|Museum||||135,930||135,930|109,561|
|Other trading activities|||4|147,949||147,949|103,395|
|Investment|income||5|4732||4 732|2,859|
|Total||||340,057|17151|357808|330,294|
|EXPENDITURE ON||||||||
|Raising funds|||7|176401|22,657|198,958|205,191|
|Charitable|activities|||||||
|Museum||||165 081|48,260|213441|121,253|
|Total||||~341 82|70917|412299|326,444|
|NET INCOME/(EXPENDITURE)
Transfers between
funds|||22|(1@25)
255|(53,766)
~255)|(55,091)|3,850|
|Net movement
in funds||||(1,070)|(54,021)|(55,091)|3,850|
|RECONCILIATION||OF FUNDS||||||
|Total funds|brought
forward|||245,090|1,662,488|1,907,578|1,903,728|
|TOTAL FUNDS CARRIED FORWARD||||244 020|1608467|1 852 487|1,907,578|
##
|||||2023|2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|fmds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets|14|165,682|1,602,530|1,768812|1,828,296|
|Heritage assets|15|49860|-|4,860|4,860|
|Investments|16|1||1|1|
|||170,543|1,602,530|1,773,073|1,833,157|
|CURRENT ASSETS||||||
|Stocks|17|8,139||8,139|8,548|
|Debtors|18|21,987||21,987|32,142|
|Cash at bank and in hand||111148|7947|119,095|106,002|
|||141/74|7,947|149/21|146,692|
|CREDITORS||||||
|Amounts
falling due within one year|19|(40,359)|(2,010)|(42@69)|(32,618)|
|NET CURRENT ASSETS||100915|5 937|106852|114,074|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||271,458|1,608,467|1,879,925|1,947,231|
|CREDITORS||||||
|Amounts
falling due after more than one||||||
|year|20|(27,438)||(27,438)|(39,653)|
|NET ASSETS||244 020|1608467|1,852 487|1,907,578|
|FUNDS|22|||||
|Unrestricted
funds||||244,020|245,090|
|Restricted funds||||1608467|1,662,488|
|TOTAL FUNDS||||1852487|1,907,578|
##
##
##
||||2023|2022|
|---|---|---|---|---|
|||Notes|f.||
|Cash flows from operating
activities
Cash generated
from operations|||27 89|44,809|
|Net cash provided
by operating
activities|||27 89|44,809|
|Cash flows from investing|activities||||
|Purchase oftangible fixed assets|||3,082|3,868|
|Net cash used in investing|activities||3,082|~3,868)|
|Cash flows from financing
Loan repayments
in year
Bank overdraft repayments|activities
in year||(12,195)|(6,]29)
~47,)67|
|Net cash used in financing|activities||~12198)|~53,296)|
|Change in cash and cash|equivalents||||
|in the reporting
period|||12,112|(12,355)|
|Cash and cash equivalents|at the||||
|beginning
ofthe reporting|period|2|106002|118,357|
|Cash and cash equivalents|at the end||||
|ofthe reporting
period|||118,114|106,002|
##
|1.|RECONCILIATION
OFNET (EXPENDITURE)/INCOME|RECONCILIATION
OFNET (EXPENDITURE)/INCOME|RECONCILIATION
OFNET (EXPENDITURE)/INCOME|TO NET|CASH FLOW FROM|CASH FLOW FROM|
|---|---|---|---|---|---|---|
||OPERATING ACTIVITIES||||||
||||||2023|2022|
||Net (expenditure)/income
for the reporting|period (as per the|||||
||Statement ofFinancial Activities)||||(55,091)|3,850|
||Adjustments
for:||||||
||Depreciation
charges||||63,166|64,703|
||Decrease/(increase)
in stocks||||409|(6,027)|
||Decrease/(increase)
in debtors||||10,155|(24,291)|
||Increase in creditors||||8,750|6,574|
||Net cash provided
by operations||||27 89|44,809|
|2,|ANALYSIS OF CASH AND CASH EQUIVALENTS||||||
||||||2023|2022|
||Cash in hand||||401|398|
||Notice deposits (less than 3months)||||118,694|105,604|
||Overdrafts
included
in bank loans and overdrafts||falling due within||||
||one year||||981||
||Total cash and cash equivalents||||118114|106,002|
|3.|ANALYSIS OF CHANGES IN NET FUNDS||||||
||||At|1.4.22|Cash flow|At31.3.23|
||Net cash||||||
||Cash at bank and in hand
Bank overdraft||106,002||13,093
~981|119,095
~981|
||||106002||12112|118,114|
||Debt||||||
||Debts falling due within
1 year
Debts falling due after
1 year||(12,188)
~39,653||(20)
12+15|(12+08)
~27438|
||||~51,841||12195|~39~646)|
||Total|||54,161|~24
07|78,468|
##
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##
|DONATI|ONS
AND LEGACIES|||
|---|---|---|---|
|||2023|2022|
|Volunteer|hours|SP86|6,526|
|Gift aid||7,171|8,395|
|Grants||13,442|71,109|
|Donated|services and facilities|42698|28,449|
|||68597|114,479|
|3.|DONATIONS AND LEGACIES|DONATIONS AND LEGACIES|DONATIONS AND LEGACIES|DONATIONS AND LEGACIES|- continued|||
|---|---|---|---|---|---|---|---|
||Grants received, included||in the|above, are as follows:||||
|||||||2023|2022|
||Coronavirus|Job Retention|Scheme||||7,378|
||Arts Council|England - Culture||Recovery Fund|||44,898|
||IW Council|- Local Restriction||Support Grants|||16,000|
||UK Government
Covid Support|||Grants|||833|
||Royal Pavilion - Audience||Data|Collection Grant|||2,000|
||South East Museum
Development||||-The Wild Escape Scheme|690||
||IW Cultural|Education
Partnership|||-Creative Biosphere Project|12752||
|||||||13,442|71,109|
|4.|OTHER TRADING ACTIVITIES|||||||
|||||||2023|2022|
||Retail sales|||||38,614|26,518|
||Catering sales|||||92,078|70,482|
||Functions|||||3,037|1,889|
||Educational|services||||~14 20|4,506|
|||||||147,949|103,395|
|5.|INVESTMENT INCOME|||||||
|||||||2023|2022|
||Income from|land||||3/53|2,826|
||Bank interest|||||~179|33|
|||||||4,732|~2859|
##
|6.|INCOME FROM|INCOME FROM|CHARITABLE ACTIVITIES|CHARITABLE ACTIVITIES|||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||Activity|||
||Entrance fees|||Museum|135930|109,561|
|7.|RAISING FUNDS||||||
||Raising donations||and|legacies|||
||||||2023|2022|
||||||f,||
||Staffcosts||||17,926|61,239|
||Museum
expenses||||4,264||
||Archaeological|expenses||||11,346|
||Event organisation||||6959|7,113|
||||||29,149|79,698|
||Other trading|activities|||||
||||||2023|2022|
||Purchases||||35,365|23,358|
||Staffcosts||||71,153|41,936|
||Commission||||530|507|
||Bad debts|||||145|
||Support costs||||62761|59,547|
||||||169,809|125,493|
||Aggregate
amounts||||198958|205,191|
##
|8.|CHARITABLE ACTIVITIES|COSTS|||||
|---|---|---|---|---|---|---|
||||||Support||
|||||Direct|costs (see||
|||||Costs|note 9)|Totals|
||Museum|||96783|116558|213341|
|9.|SUPPORT COSTS||||||
||||||Governance||
|||Finance|Admin|Premises|costs|Totals|
||Other trading activities
Museum|2,541
4718|18+45
33886|36,026
66 905|5,949
11049|62,761
116558|
|||7259|52 131|102931|16998|179319|
##
|||2023|2022|
|---|---|---|---|
|Independent
examiners fees||2+40|2,260|
|Other assurance|services|900|900|
|Bookkeeping
Depreciation
-
Other operating|owned assets
leases|13,758
63,166
2,301|9,167
64,703
2,037|
##
##
##
##
|The total amount ofremuneration
and benefits received
by key management
in the year
(2022 - j33,632).|The total amount ofremuneration
and benefits received
by key management
in the year
(2022 - j33,632).|The total amount ofremuneration
and benefits received
by key management
in the year
(2022 - j33,632).|The total amount ofremuneration
and benefits received
by key management
in the year
(2022 - j33,632).|was $35,85|
|---|---|---|---|---|
|COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES|||||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|INCOME|AND ENDOWMENTS|FROM|||
|Donations|and legacies|67,581|46,898|114,479|
|Charitable|activities||||
|Museum||109,561||109,561|
|Other trading activities||103,395||103,395|
|Investment|income|2,859||2,859|
|Total||283,396|46,898|330,294|
|EXPENDITURE ON|||||
|Raising funds||154,838|50,353|205,191|
|Charitable|activities||||
|Museum||69,879|51,374|121,253|
|Total||224,717|101727|326,444|
##
|13.|COMPARATIVES|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|FORTHE STATEMENT OFFINANCIAL ACTIVITIES -continued|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||NKT INCOME/(EXPENDITURE)
Transfers
between funds||||58,679
24,182|(54,829)
~24,182|3,850|
||Net movement
in funds||||82,861|(79,011)|3,850|
||RECONCILIATION||OFFUNDS|||||
||Total funds brought|forward|||162,229|1,741,499|1,903,728|
||TOTAL FUNDS CARRIED|||||||
||FORWARD||||245,090|1,662,488|1,907,578|
|14.|TANGIBLE FIXED||ASSETS|||||
||||Land,||Fixtures|||
||||road and|Cover|aild|Computer||
||||car parks|building|fittings|equipment|Totals|
||COST|||||||
||At 1 April 2022||107,846|2/689613|428487|19,994|3,124,840|
||Additions||||947|2,135|3082|
||At 31 March 2023||107$46|2+68613|429@34|22 129|3 127922|
||DEPRECIATION|||||||
||At 1 April 2022
Charge for year|||923,710
51@72|359,970
10,405|12,864
~189|1,296,544
63,166|
||At 31March 2023|||9750$2|370475|14253|1359710|
||NET BOOKVALUE|||||||
||At 31 March 2023||107$46|~1593 31|58959|7876|1768212|
||At 31March 2022||107,846|1,644,903|68,417|7,130|1,828,296|
##
|15.|HERITAGE ASSETS||
|---|---|---|
|||Total|
||MARKET VALUE||
||At 1 April 2022 and 31 March 2023|~4860|
||NET BOOKVALUE||
||At 31March 2023|~4860|
||At 31March 2022|~4860|
|FI|XEDASSETINVESTMENTS|||
|---|---|---|---|
|||Shares|in|
|||group||
|||undertakings||
|MARKET VALUE||||
|At|1 April 2022 and 31 March 2023|||
|NET BOOKVALUE||||
|At|31March 2023||1|
|At|31March 2022||1|
##
||Brading Roman Villa (Trading) Ltd|Brading Roman Villa (Trading) Ltd|Brading Roman Villa (Trading) Ltd|||||
|---|---|---|---|---|---|---|---|
||Registered office:|||||||
||Nature ofbusiness: Dormant|||||||
|||||0/o||||
||Class ofshare:|||holding||||
||Ordinary||||100|||
|||||||2023|2022|
||Aggregate
capital and reserves|||||1|1|
||The accounts ofthe dormant||subsidiary|company|are not consolidated.|||
|17.|STOCKS|||||||
|||||||2023|2022|
||Shop, catering, stationery|and fuel||||8,139|8,548|
|18.|DEBTORS:AMOUNTS|FALLING||DUE WITHIN ONE YEAR||||
|||||||2023|2022|
||Trade debtors|||||2,671|6,143|
||VAT||||||4,427|
||Prepayments|||||19,316|21,572|
|||||||21,987|32,142|
##
|19.|CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR|CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR|CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|
|||||2023|2022|
||Bank loans and overdrafts||(see note 21)|13,189|12,188|
||Trade creditors|||9,100|12,111|
||Social security and other taxes|||1,624|1,324|
||VAT|||1,581||
||Other creditors|||5,783|1,886|
||Accruals and deferred|income||11092|5,109|
|||||42@69|32,618|
|20.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN|||ONE YEAR||
|||||20?3|2022|
||Bank loans (see note|21)||27 438|39,653|
|21.|LOANS|||||
||An analysis ofthe maturity||ofloans is given below:|||
|||||2023|2022|
||Amounts
falling due|within one year on demand:||||
||Bank overdrafts|||981||
||Bank loans|||12208|12,188|
|||||13,189|12,188|
||Amounts
falling between one and two years:|||||
||Bank loans|||27 438|39653|
##
|MOVEMENT IN F|UNDS||||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.22|in funds|funds|3l.3.23|
|Unrestricted
funds|||||||
|General fund|||244,240|(1@46)|255|243,149|
|Munns Portrait Collection - Designated|||||||
|Fund|||850|21||871|
||||245,090|(1/25)|255|244,020|
|Restricted funds|||||||
|Herapath
Shenton Trust|||4,979|||4,979|
|Friends ofBrading Roman Villa|||1,655|1,023|(255)|2,423|
|Arts Council England
Cover Building
Royal Pavilion &Museum|||8,451
1,644,903
2 500|(1,267)
(51,372)
~2150||7,184
1,593+31
350|
||||1 662 488|~5376|~255|1608467|
|TOTAL FUNDS|||1907 578|55091||1 852 487|
|Net movement
in funds, included||in the|above are as follows:||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|Unrestricted
funds|||||||
|General fund||||340,036|(341482)|(1@46)|
|Munns Portrait Collection - Designated|||||||
|Fund||||21||21|
|||||340,057|(341@82)|(1425)|
|Restricted funds|||||||
|Friends ofBrading Roman Villa||||3,709|(2,686)|1,023|
|Arts Council England|||||(1/67)|(1@67)|
|Cover Building|||||(51/72)|(51472)|
|South East Museum|Development|||690|(690)||
|Royal Pavilion &Museum|||||(2,150)|(2,150)|
|IW Cultural
Education Partnership-|||||||
|Creative Biosphere Project||||12752|12,752||
|||||17151|~70~917)|j53~766)|
|TOTAL FUNDS||||357208|412,299|55091|
##
##
|Comparatives
for m|ovement
in funds|||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.4.21|in funds|funds|31.3.22|
|Unrestricted
funds||||||
|General fund||161,852|58,679|23,709|244,240|
|Munns Portrait Collection - Designated||||||
|Fund||377||473|850|
|||162,229|58,679|24,182|245,090|
|Restricted funds||||||
|Herapath
Shenton Trust||4,979|||4,979|
|Friends ofBrading Roman Villa||1,655|||1,655|
|Arts Council England||37,746|(5,113)|(24,182)|8,451|
|Cover Building||1,696,276|(51,373)||1,644,903|
|South East Museum|Development|343|(343)|||
|Royal Pavilion &Museum||500|2,000||2,500|
|||1,741,499|54,829|~24, 182|1,662,488|
|TOTAL FUNDS||1,903,728|3,850||1,907,578|
|Comparative
net mov|ement
in funds, included
|in the above are as follows|:||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|Unrestricted
funds|||||
|General fund||283,396|(224,717)|58,679|
|Restricted funds|||||
|Arts Council England
Cover Building
South East Museum
Development
Royal Pavilion & Museum||44,898
2,000|(50,011)
(51,373)
(343)|(5,113)
(51,373)
(343)
2,000|
|||46,898|101,727|54,829|
|TOTAL FUNDS||330,294|326,444|3,850|
##
|A current year 12mo|nths
and prior year 1|2months
combi|ned
position is a|s follows:||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.4.21|in funds|funds|31.3.23|
|Unrestricted
funds||||||
|General
fund||161,852|57,333|23,964|243,149|
|Munns Portrait Collection - Designated||||||
|Fund||377|21|473|871|
|||162,229|57,354|24,437|244,020|
|Restricted funds||||||
|Herapath
Shenton Trust||4,979|||4,979|
|Friends ofBrading Roman Villa||1,655|1,023|(255)|2,423|
|Arts Council England||37,746|(6,380)|(24,182)|7,184|
|Cover Building||1,696,276|(102,745)||1,593,531|
|South East Museum
Development
Royal Pavilion 4 Museum||343
500|(343)
~)50)||350|
|||1,741,499|108,595|24,43|1,608,467|
|TOTAL FUNDS||1,903,728|~51,241)||1,852,487|
##
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|Unrestricted
funds|||||
|General fund||623,432|(566,099)|57,333|
|Munns Portrait Collection - Designated|||||
|Fund||21||21|
|||623,453|(566,099)|57,354|
|Restricted funds|||||
|Friends ofBrading Roman Villa||3,709|(2,686)|1,023|
|Arts Council England||44,898|(51,278)|(6,380)|
|Cover Building|||(102,745)|(]02,745)|
|South East Museum|Development|690|(1,033)|(343)|
|Royal Pavilion &Museum||2,000|(2,150)|(150)|
|IW Cultural
Education Partnership-|||||
|Creative Biosphere Project||12,752|12,752||
|||64,049|172,644|108,595|
|TOTAL FUNDS||687,502|~738,743|~51.241)|
|Designated
Funds|||||
##
##
##
##
##
##