**Charity Registration No. 1130071**
**Company Registration No. 06348133 (England and Wales)**
# **THE CENTRE FOR COMPUTING HISTORY LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr M P Muller Mr D E M Halstead Mr G T Marlow Ms E F C S Upton Dr A Harter **Charity number** 1130071 **Company number** 06348133 **Principal address** 1 Rene Court Coldhams Road Cambridge CB1 3EW **Registered office** 1 Rene Court Coldhams Road Cambridge CB1 3EW **Independent Examiner** Ensors Accountants LLP Saxon House Moseley's Farm Business Centre Fornham All Saints Bury St Edmunds Suffolk IP28 6JY
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 11|
|Independent examiner's report|12|
|Statement of financial activities|13|
|Balance sheet|14 - 15|
|Notes to the financial statements|16 - 28|
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
The Trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's articles of association, the Companies Act 2006 and "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)".
## **Objectives and activities**
The trustees have complied with their duty to have due regard to the guidance published by the Charity Commission on the Public Benefit requirement under the Charities Act 2011.
The activities undertaken by the Centre for Computing History further its charitable purposes for the public benefit in several areas, in particular through its public and learning programmes and exhibitions. The main charitable objective of the Centre is to promote, maintain, improve and advance public education in the history of computing.
## **Why we exist**
The Centre for Computing History is devoted to the history of the computer age. Established in 2007 and becoming a registered charity in 2009, we believe there should be an accessible record of the fast-paced technological and societal changes of the past eighty years. The Centre first opened to the public in Cambridge as a museum and learning space in August 2013. Its collections are of national and international importance, and embody a unique attention to the social history of computing.
As defined by the Centre’s governing documents, the organisation’s charitable objectives are: To promote, maintain, improve and advance public education in the history of computing in particular by the:
- Provision of educational demonstrations
-
- Provision of an educational facility and research centre
- Establishment and maintenance of a museum.
- 1 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **How we achieve our objectives**
Our aim is to tell the story of how computers came to be so that we can raise awareness of the immense impact they have had, and will likely continue to have, on our world. Why? Because as Machiavelli said, “Whoever wishes to foresee the future must consult the past”. In short, the future is likely digital and an understanding of the past can help equip us better for our shared technological futures.
To achieve this impact, and therefore our charitable aims, we focus on three key areas:
1. Historically important collections: The Centre collects, conserves and displays computing related historical artefacts and the narratives that go with them, with the aim of preserving the computing heritage of the UK for the benefit of present and future generations. The core collection currently includes computers, software, manuals, magazines and other literature, theses, prototypes, games and games consoles. The Centre for Computing History is not just a collection of computers on display, but rather aims to tell the stories – the social impact – of computing. It is this focus, along with its interactivity, that makes the Centre totally unique.
2. Access to our collections: Historically important collections are of little value if they are inaccessible. Key to maximising the impact of our important collections is engaging visitors to the museum, and even non-visitors, with our shared tech heritage in a lively, accessible and friendly way. We open five days a week in term time and 7 days a week during the school holidays to welcome visitors. In addition, our website, YouTube channel and social media presence offer visitors and non-visitors alike, 24/7 access to our collection and the stories within it.
3. Learning from heritage: We are passionate about learning and the role heritage can play in it. Our core mission is to educate the public about the ongoing story of what we believe is one of the world’s most important inventions – the computer. Even before computer science was part of the national curriculum we were teaching coding and electronics to inquisitive and enthusiastic school children, students and members of the public. With our collection at the heart of what we do, we continue to work with schools, colleges, HE institutions and the general public to bring about learning in a focused, engaging and fun way.
4. Beneficiaries of our charitable activities include children (locally, nationally and internationally); the academic community that currently lacks open and public access to research facilities on the history of computing; and the wider public who are often not fully aware of the far-reaching social changes brought about in recent decades by computing.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
- 2 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **From the Chair and Chief Executive**
## Things were going so well!
October 2019 saw us welcoming our 100,000th visitor since opening our doors to the public at our Cambridge building six years before.
In November 2019 the museum was awarded ‘Object of the Year’ for our prototype Sinclair ZX Spectrum computer. This meant a lot to us as it was awarded by Museums in Cambridgeshire and voted for by the public, demonstrating the interest our collection has to the public.
February 2020 saw our second highest visitor figures to date with over 2,500 people coming through our doors in that single short month.
Our events were increasing in popularity. Our Retro Computer Festival was the busiest it has ever been. Corporate events were proving popular, and our educational workshops put on over the Christmas period were as popular as ever.
At the beginning of March 2020 we were awarded a delivery phase grant of £265,400 for our LEO Computers project, having successfully completed the development phase work.
Then later in March 2020 Coronavirus hit and the country went into lockdown, bringing our schools programme and general visitors to zero overnight. These, being our primary revenue source, brought into sharp focus our potential vulnerability and we needed to think quickly to re- organise and work out a route through the pandemic.
- We immediately reduced our costs to the minimum viable level and furloughed staff where possible.
- We developed new products for online retail (although this was never going to replace lost income).
- We focused on bringing in grant funding, corporate sponsorship and general donations to help cover core costs.
Thanks to a very significant donation, one major development from the previous year was the purchase of our buildings. This was a planned step in our journey to becoming more sustainable in the long term. But no-one at that time knew how vital a move that was with Coronavirus just around the corner. Had we not purchased our site we would have been in a position where considerable rent would have had to be paid throughout the pandemic, and our finances would have looked very different as a result.
We are extremely grateful to central and local government for the availability of the furlough scheme and grant funding. We also applied to the National Lottery Heritage Fund for Coronavirus support and we are very grateful for the grant we received which helped support us and enabled us to buy equipment so we can re-open safely.
With this financial security it allowed us to concentrate on ensuring the museum continued to engage with the public throughout lockdown. We:
- Began to work in collaboration with Loughborough University and a range of museums in the UK and abroad in the Circuits of Practice project, which is examining the role of museums in constructing narratives about histories of computing.
- Accepted over 100 new donations (safely and socially distanced) and saved tech going to landfill, thanks to our call-out in the Times newspaper and online.
- Added 1750 items, including 1250+ video games, 27 game consoles, 33 mobile devices, over 250 software packages, 100+ books, and 100+ magazines to our collection.
- 3 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
- Digitised items in our collection and made them available to view online for free. This included the U.S. Gold "Another Successful Year" book and Who’s Who at Sinclair.
- Developed a new ‘telepresence’ video rig for virtual tours and held 7 virtual events.
- Published 40 new YouTube videos and launched our CCH Learning YouTube channel with 8 new educational videos.
- Shared several podcasts & vodcasts providing updates about the museum, and talking about current tech & gaming news.
- Shared many videos looking at unusual hardware and software from our collection, and even a virtual tour of the Animal Crossing Computer Museum!
- Added many new activities to our Learning Resources page.
- Started some great discussions on games & preservation with articles on:
- Video Game Heritage & Preservation
- David Jones (Game Designer) Case Study
- Museums in Video Games
- Search for the Rowntree (Lost Video Game)
- Took part in 2 streamathons lasting over 70 hours arranged for our benefit by some brilliant retro streamers and YouTubers.
- Gained over 8000 followers across all our social media.
- Joined Patreon, where we have 61 patrons supporting us and watching our content.
- Shared many Error in formula ->#MuseumFromHome<- posts on social media, featuring items from our collection and engaged with other museums.
- Began a partnership with Super Rare Games in which they support our video game preservation initiative by providing physical copies of their games.
- Entered a sponsorship partnership with video game giants Frontier developments.
- Took part in local group Red2Green’s lottery funded community project Cogs2Computers, which supports and brings together the Red2Green community, local schools and the public to learn the history of computing.
We are extremely proud of what our small team has achieved in the six years since we opened in Cambridge.
Our heritage work was helped further by our success in obtaining delivery phase funds for a project to digitise and interpret our new archive around the Lyons Electronic Office (LEO), the world’s first business computer, which was developed in the 1950s-60s. This successful bid followed our development phase work that enabled us to protect a wide range of heritage objects that were previously at risk of loss. We got news of our success just a few days before we were closed due to the pandemic and we are incredibly proud that we have been able to keep the project going despite the challenges of remote working. We would like to thank our partners in the project, the LEO Computers Society, for their support during this difficult time, and of course the National Lottery Heritage Fund and lottery players who make it possible. This is our second NLHF-funded workstream and projects such as these both help establish the importance of our collections and their narratives and they also serve to broaden our reach.
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## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
As if the pandemic wasn’t enough to deal with, in October 2020 the museum suffered a burst water pipe that flooded much of the ground floor of the museum, though it spared our collections. This delayed opening, and at the time of writing the museum is still not currently open to the public. However, we do plan to re-open as soon as it is safe for us to do so, currently expected to be May 2021.
We are incredibly grateful to the public too, who have generously donated to the museum during the Coronavirus lockdowns and to support us after the flood. Over £36,000 has been donated including over £10,000 raised through two streamathons organised by supportive YouTubers and Twitch streamers. We deeply appreciate their support.
We would also like to thank our corporate sponsors who came to our aid during these difficult times. Frontier Developments are an exciting new sponsor, and we hope to work closely with them in the coming year. We really appreciate the support of companies like Collabora, Axioworks, Solace3D and also Qualcomm, from whom we applied for, and later received, funding so we can develop our early years learning offer.
Once again, the Chair, the trustees and the CEO, would like to say a big thank you to all the volunteers, supporters, donors, staff and visitors who contribute year on year to our growth and success, even throughout these difficult times.
Jason Fitzpatrick Gareth Marlow Chief Executive Chair of Trustees
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## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **What we did – the detail**
## 1. The Museum and the Collection
As the Museums Association points out “museums can increase our sense of wellbeing, help us feel proud of where we have come from, can inspire, challenge and stimulate us, and make us feel healthier. With society facing issues such as poverty, inequality, intolerance and discrimination, museums can help us to understand, debate, and challenge these concerns.” The Centre for Computing History is uniquely placed to do this by engaging in a programme of contemporary collecting, as well as the preservation of historical artefacts and narratives, so that the process of computing history is continuous. This is lived history at its best.
With no visitors in the museum during lockdown, the museum has turned to the web to engage with the general public and enable them to explore our collection virtually. Our museum was ‘born digital’ so we have had no difficulty in engaging with a wide range of people through online means. Our website represents our collection in its entirety (the only computing museum in the UK to do this), and social media helps us signpost unique and new additions to our collection. Videos and online live tours have further engaged with the community and encouraged more people to explore our collection.
Accreditation defines good practice and identifies agreed standards, thereby encouraging development and it commits us a programme of continued development in everything we do. It is a baseline quality standard that helps guide us to be the best we can be, for current and future users and ensures that our collection is adequately documented and protected. This year we have taken the opportunity to share our practices online and collaborate with other museums, particularly in terms of preservation of modern electronic products.
Whilst Coronavirus somewhat curtailed our plans for 2020, one of our plans was to focus on video game preservation. Through our articles and online collaboration with the community we have been very lucky to receive some fantastic key acquisitions to our collection. One such collaboration with Re-Enthused has led to donations of rare Japanese computers and game consoles. Key acquisitions include:
- Various physical releases of digital games thanks to Super Rare Games;
- An original Centipede arcade cabinet;
- Prototypes of the GeoFox portable computer, fewer than 1000 were ever made;
- The Ibycus computer – Designed to convert English to Hebrew;
- Documentation for the SETAR project – a computer-based system to record physiological and behavioural data based at Cambridge Psychological Lab;
- Slides, brochures and internal documentation for the BBC Domesday Project;
- Several Soviet Sinclair ZX Spectrum clones;
- A Commodore 116 and Commodore Max Japanese computers.
We are particularly pleased that we continue to be considered a fitting home for unique development items, corporate documentation and ephemera. Often these items are overlooked, yet play a vital part in telling the story of the burgeoning computer industry.
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## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
Our audio-visual archive is developing well. It profiles interviews with computing pioneers, innovators and users, a whole YouTube channel dedicated to retro tech, recordings of many of our events and content related to computers in music - all of which capture specific moments in tech history and help make the history of computing accessible to all. The archive can be viewed on the Centre’s YouTube channels and has helped significantly to broaden both the collection and audience engagement with it. We consider this overlaying of human stories onto heritage objects to be at the heart of what a good museum does.
Our priceless volunteers are worth mentioning here because without them our impact would be much less. We have around 54 active volunteers, offering us over 4,000 volunteer hours a year.
It is gratifying to know that while we - and our visitors - benefit from the time our volunteers offer us, those volunteers also benefit from what they do. Our volunteers also help enormously with cataloguing and preserving our collection and with helping visitors to engage with it. Their hard work means that our entire catalogue is available online via our website and the digital archive is well used, with over 3,500 website hits every day.
- 7 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## 2. Access to the collection
Since its inception, the Centre for Computing History has always been about interactive, hands- on learning and fun. While our core collection is protected and preserved for future generations, our handling collection makes the core, preserved material accessible and open and our visitors love that hands-on opportunity to interact with the heritage in an environment that also poses questions about where we are headed as a tech-based society.
Our staff and volunteers work hard to keep the old tech in working order and to offer the visitor an engaging experience and this is particularly appreciated by our visitors who often comment on our friendliness. We particularly enjoy the feedback from visitors who had been reluctant to visit but who were glad they did: “Went here with my husband and his fellow computing and gaming geek friends. Thought I would hate it and find it really boring but there is stuff here to entertain everyone. It is really well laid out with informative exhibitions and old gaming consoles that you can play on until your heart is content.”
The interactive visitor experience is clearly welcomed by our visitors. Many note also that the tech is set within a context of informative and accessible displays that tell the story of how computers and computing have developed over the past 70 years.
While all outreach events planned for 2020 have been cancelled, we are encouraged to be in discussion with various organisers and planning events for the future. One Life Left ‘22 Video Games Convention is one such event planned for early 2022, and we are confident other events will follow.
All of these activities help broaden our impact as a charity. They open up our collection so that it can offer diverse audiences opportunities to engage with tech history and to learn from it in a lively, accessible and friendly way.
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PICTURE 6
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## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## 3. Learning from heritage
One of our key audiences, and one dear to our hearts, is young people who visit us as part of school or college groups. Our restructured learning programme for schools was extremely well- received. Now our learning team is using this format to develop a new virtual visit where schools from far and wide can access our museum, eliminating travel barriers. Whilst nothing beats being at the museum and touching the history, there are many advantages to a virtual visit. We are proud of how our learning team quickly adapted to this new way of educating and will continue to develop this offer based on the trials carried out during lockdown.
The Centre staff supporting the students (both at the museum and virtually) are well qualified, possessing significant knowledge and experience of both tech and the Centre. They can focus the students’ attention on our collection, activities and the desired learning outcomes so that learning is optimised. Our last survey showed that 100% of teachers felt their experience met the learning objectives ‘completely’ or ‘mostly’. With Qualcomm’s support we are developing new resources for the younger visitors who come with their families or their primary schools.
During 2020 we were also proud to be involved in Red2Green’s Cogs2Computers project. Whilst the original plans were to host visits at the museum, this quickly became a virtual project, and our learning team delivered remote programming workshops and tours to Red2Green clients, staff and local schoolchildren. Feedback from all has been very positive. Similarly, the Circuits of Practice project should have seen us welcome groups of visitors to the museum, but became an online project once the pandemic hit; nonetheless, progress with the research is good.
We are very pleased to have used the time provided by the pandemic to create supporting learning resources. These are available to all, free of charge, and consist of downloadable informative guides, fun quizzes and instructional videos. We are deeply appreciative of our volunteers and staff who continue to put these resources together at home. These resources help us meet the needs of a wide range of visitors. Just one of the many positive comments online was “An actual pedagogical and simple approach to teaching and explaining how to go about getting started on Twine. A rare thing to find online.”
- 9 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **Plans for the Future**
Obviously, the worldwide pandemic has limited what we could achieve at the museum but in terms of our plans for the future we feel we can now broaden what we do. For example, we have been encouraged to develop new ideas that we hadn’t previously considered; we are particularly excited about the possibility of hosting school visits remotely - opening access to the museum across the world!
However, our previous plans have not halted, just delayed. We want to be exciting and to attract a wider audience, and our plans for the coming year are to continue the development of our robust and relevant learning programme (now to include virtual visits), and to develop high- quality exhibitions and events that inspire, engage and delight all visitors. Our increasing visitor numbers prior to the pandemic, excellent feedback from schools and other visitors and the level of volunteer engagement we enjoy are indications that we are having a positive impact and we are keen to build on this, while continuing the project work we are actively engaged in.
We are also keen to develop the integrity of our core collections by investing in their future and the award of full accreditation previously demonstrated our commitment. We know our collection is significant and important but now we are proving it! Doing all these things can help us ensure that our collections remain safe and accessible for the benefit of future generations and can continue to engage new audiences while giving current visitors a good reason to keep coming back.
Above all, we look forward to seeing you soon …
## **Financial review**
Total incoming resources in the year amounted to £469,729 (2019: ￡1,588,063). With total expenditure incurred at £327,773 (2019: ￡354,063), overall the net movement in funds was a net inflow of £141,956(2019: £1,233,999).
The net assets of the Centre at the balance sheet date were £1,600,293, compared with ,£1,458,337 in the previous year.
The charity’s reserves policy is to maintain reserves at a level adequate to protect its ongoing work from fluctuation in funding. At the year end, the charity had reserves of £1,600,293 (2019: £,458,337). Of these, £1,315,964 (2019: £1,314,018) are restricted funds over which there are specific conditions relating to their application. Unrestricted reserves at the year-end date total £284,329 (2019: £144,319). It is the Charity’s policy that the general (unrestricted) reserves should not fall below £100k. At the year-end date the Charity was meeting its reserves policy.
The Trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
- 10 -
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## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE CENTRE FOR COMPUTING HISTORY LIMITED**
I report to the Trustees on my examination of the financial statements of The Centre for Computing History Limited (the Charity) for the year ended 31 August 2020.
## **Responsibilities and basis of report**
As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, 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 that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
C J Barrett, FCCA Saxon House Moseley's Farm Business Centre Fornham All Saints Bury St Edmunds Suffolk IP28 6JY
27/05/2021 Dated: .........................
- 12 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
201,022
112,428
Charitable activities
**4**
116,812
-
Investments
**5**
39,467
-
**Total income**
357,301
112,428
**Expenditure on:**
Raising funds
**6**
2,452
980
Charitable activities
**7**
223,352
100,989
**Total resources**
**expended**
225,804
101,969
**Net incoming**
**resources before**
**transfers**
131,497
10,459
Gross transfers
between funds
8,513
(8,513)
**Net income for the year/**
**Net movement in funds**
140,010
1,946
Fund balances at 1
September 2019
144,319
1,314,018
**Fund balances at 31**
**August 2020**
284,329
1,315,964|**Total**
Unrestricted
funds
**2020**
2019
**£**
**£**
313,450
22,956
116,812
242,142
39,467
285
469,729
265,383
3,432
12,981
324,341
233,059
327,773
246,040
141,956
19,343
-
(16,239)
141,956
3,104
1,458,337
141,215
1,600,293
144,319|Restricted
funds
2019
**£**
1,313,773
-
8,906
1,322,679
1,858
106,165
108,023
1,214,656
16,239
1,230,895
83,123
1,314,018|Total
2019
**£**
1,336,729
242,142
9,191|
|---|---|---|---|
||||1,588,062|
||||14,839|
||||339,224|
||||354,063|
||||1,233,999
-|
||||1,233,999
224,338|
||||1,458,337|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 13 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investment properties
**11**
**Current assets**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets/(liabilities)
**Total assets less current liabilities**
**Income funds**
Restricted funds
**17**
Unrestricted funds
Designated funds
**18**
General unrestricted funds|**2020**
**£**
**£**
1,173,589
299,861
1,473,450
14,111
25,246
323,643
363,000
(236,157)
126,843
1,600,293
1,315,964
8,334
275,995
284,329
1,600,293|**2019**
**£**
**£**
1,190,814
299,861
1,490,675
6,807
29,159
461,196
497,162
(529,500)
(32,338)
1,458,337
1,314,018
22,250
122,069
144,319
1,458,337|
|---|---|---|
- 14 -
THE CENTRE FOR COMPUTING HISTORY LIMITED
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15
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **Charity information**
The Centre for Computing History Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 Rene Court, Coldhams Road, Cambridge, CB1 3EW.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and "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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
The Trustees have considered the impact of the Covid-19 pandemic on the Charity. At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Volunteers play an important role in the activities of the Charity. However, their contribution cannot be measured reliably and therefore a value has not been included in the accounts.
- 16 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Irrecoverable VAT is charged against the expenditure heading for which it is incurred, where applicable.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land Land is not depreciated Freehold property 50 years Straight Line Plant and machinery 3 - 5 years Straight Line Leasehold improvements 5 - 10 years Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Investment properties**
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
## **1.8 Impairment of fixed assets**
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 17 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **1.11 Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.13 Heritage Assets**
The current policy is to capitalise significant assets in the balance sheet at deemed cost except in the situation where there is insufficient information to arrive at a reasonable valuation or the cost of obtaining such information would exceed the benefit of obtaining the data. The nature and provenance of the items in the charity's collection renders it impracticable to obtain or make a reliable valuation, and in consequence Heritage assets are omitted from inclusion in the financial statements.
## **1.14 Operating leases**
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
- 18 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **2 Critical accounting estimates and judgements**
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Key estimate**
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
## **Valuation of investment properties**
The company values investment properties at fair value. The fair value is arrived at from the directors' knowledge of the underlying properties.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
Donations and gifts
154,800
8,827
Grants receivable
46,222
103,601
201,022
112,428|**Total**
Unrestricted
funds
**2020**
2019
**£**
£
163,627
22,956
149,823
-
313,450
22,956|Restricted
funds
2019
£
1,262,309
51,464
1,313,773|Total
2019
£
1,285,265
51,464|
|---|---|---|---|
||||1,336,729|
Included within grants receivable is £37,889 (2019: £nil) in relation to The Coronavirus Job Retention Scheme.
## **4 Charitable activities**
|Shop sales
Admissions
Event fees
Sponsorship
Education services
Other income|**Charitable**
**activities**
**Other trading**
**activities**
**2020**
**2020**
**£**
**£**
35,609
21,563
-
8,203
8,784
-
16,100
-
22,614
-
3,939
-
87,046
29,766|**Total**
**2020**
**£**
57,172
8,203
8,784
16,100
22,614
3,939
116,812|**Charitable**
**activities**
**Other trading**
**activities**
**2019**
**2019**
**£**
**£**
24,246
26,094
105,178
14,579
21,657
-
-
-
45,725
-
4,663
-
201,469
40,673|**Total**
**2019**
**£**
50,340
119,757
21,657
-
45,725
4,663|
|---|---|---|---|---|
|||||242,142|
- 19 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **5 Investments**
|**Unrestricted**
Unrestricted
Restricted
**funds**
funds
funds
**2020**
2019
2019
**£**
£
£
Rental income
39,032
-
8,906
Interest receivable
435
285
-
39,467
285
8,906|Total
2019
£
8,906
285|
|---|---|
||9,191|
## **6 Raising funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
Trading costs
Shop purchases (stock
adjusted)
2,452
980
2,452
980|**Total**
Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
£
£
3,432
12,981
1,858
3,432
12,981
1,858|Total
2019
£
14,839|
|---|---|---|
|||14,839|
- 20 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **7 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2020**|**2019**|
||**£**|**£**|
|Staff costs|196,738|167,502|
|Depreciation and impairment|29,377|21,328|
|Rent, rates and utility costs|11,195|42,043|
|Insurance|7,837|1,974|
|Repairs, maintenance and office equipment|8,841|13,859|
|Advertising and marketing|4,291|4,309|
|Display development|3,197|17,566|
|Postage|2,396|1,276|
|Stationery|440|447|
|Travel|783|1,385|
|Exhibition expenses|6,829|6,833|
|Admission fees|1,566|3,958|
|Entertaining|375|240|
|Legal and professional|31,994|26,360|
|Independent examiners fees|6,158|8,390|
|Bookkeeping|2,819|2,669|
|Bank charges|1,860|2,106|
|Other charitable expenditure|7,645|16,979|
||324,341|339,224|
||324,341|339,224|
|**Analysis by fund**|||
|Unrestricted funds|223,352|233,059|
|Restricted funds|100,989|106,165|
||324,341|339,224|
## **8 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
- 21 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **9 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2020**
**Number**
8
**2020**
**£**
180,705
11,599
3,575
195,879|**2019**
**Number**
8|
|---|---|---|
|||**2019**
**£**
154,957
8,877
2,365|
|||166,199|
## **10 Tangible fixed assets**
|**Freehold land**
**and buildings**
**£**
**Cost**
At 1 September 2019
1,165,118
Additions
-
At 31 August 2020
1,165,118
**Depreciation and impairment**
At 1 September 2019
2,895
Depreciation charged in the year
11,591
At 31 August 2020
14,486
**Carrying amount**
At 31 August 2020
1,150,632
At 31 August 2019
1,162,223|**Plant and**
**machinery**
**Leasehold**
**improvements**
**£**
**£**
79,331
34,874
1,685
10,467
81,016
45,341
59,455
26,159
12,569
5,217
72,024
31,376
8,992
13,965
19,876
8,715|**Total**
**£**
1,279,323
12,152|
|---|---|---|
|||1,291,475|
|||88,509
29,377|
|||117,886|
|||1,173,589|
|||1,190,814|
## **11 Investment property**
## **Fair value**
At 1 September 2019 and 31 August 2020
**2020 £** 299,861
Investment property comprises of commercial units only. The properties were purchased in May 2019.The directors consider there has been no change in the fair value at the year end.
- 22 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **11 Investment property**
|Freehold
Long leasehold
Short leasehold
**12**
**Stocks**
Finished goods and goods for resale
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**14**
**Loans and overdrafts**
Loans from related parties
Payable within one year|**2020**
**£**
299,861
-
-
**2020**
**£**
14,111
**2020**
**£**
11,539
6,178
7,529
25,246
**2020**
**£**
220,600
220,600|**2019**
**£**
299,861
-
-|
|---|---|---|
|||**2019**
**£**
6,807|
|||**2019**
**£**
24,378
3,554
1,227|
|||29,159|
|||**2019**
**£**
495,800|
|||495,800|
The loans from related parties have no security and are interest free.
In 2019 two trustees lent the charity £250,000 each, being an interest free loan for the purchase of property. The first loan was repaid in full in 2019, a balance of £220,600 remains due and is being repaid in monthly instalments. This balance is repayable on demand.
- 23 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **15 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|**Notes**
Borrowings
Other taxation and social security
Deferred income
**16**
Trade creditors
Other creditors
Accruals|**2020**
**£**
220,600
1,214
3,229
6,909
705
3,500
236,157|**2019**
**£**
495,800
8,389
11,562
5,849
-
7,900|
|||529,500|
## **16 Deferred income**
|Arising from government grants
Other deferred income|**2020**
**£**
-
3,229
3,229|**2019**
**£**
8,333
3,229|
|---|---|---|
|||11,562|
- 24 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **17 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 September**
**2018**
**£**
Odyssey
40,164
Women in Computing
2,936
Mathworks
-
Aim Conversion Grant
-
Virtual Computer Controller
90
Citrix Education Fund
16,189
Leo HLF
-
New building
-
Tangible fixed assets
23,744
NLHF Emergency Covid Grant
-
83,123|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**1 September**
**2019**
**£**
**£**
**£**
**£**
-
(10,110)
(1,845)
28,209
4,000
(3,692)
-
3,244
-
-
-
-
978
(985)
7
-
286
-
-
376
-
(3,516)
-
12,673
53,509
(64,510)
11,001
-
1,255,000
(10,268)
(1,244,732)
-
8,906
(14,942)
1,251,808
1,269,516
-
-
-
-
1,322,679
(108,023)
16,239
1,314,018|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**£**
**£**
**£**
-
(342)
-
1,500
(2,580)
-
7,000
(4,000)
-
2,025
(2,418)
393
327
-
-
-
(1,567)
-
66,376
(49,353)
(769)
-
-
-
-
(23,581)
(7,221)
35,200
(18,128)
(916)
112,428
(101,969)
(8,513)|**Balance at**
**31 August**
**2020**
**£**
27,867
2,164
3,000
-
703
11,106
16,254
-
1,238,714
16,156
1,315,964|
|---|---|---|---|
- 25 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **17 Restricted funds**
Fund Structure
Odyssey - This includes funds received for the purpose of refurbishing the Odyssey gallery.
Women In Computing - This includes funds received to support the Women In Computing festival to be held by the Centre.
Mathworks - This fund supports the learning programme with the purchase of new laptops for the classroom, and to support the learning team staff costs through the Covid pandemic.
AIM Conservation Grant - This fund relates to developing a more sustainable approach to the conservation and management of museum collections.
Virtual Computer Collector - This fund was set-up by enthusiasts of the charity who donate amounts to contribute towards the purchase or repair of collection items.
Restricted Fund - Citrix Education Fund - This fund relates to amounts received to subsidise school visits to the museum.
LEO HLF - This fund relates to amounts received for a digitisation and research project on LEO Computers.
New Building - This fund relates to the purchase of the charity's premises at Rene Court.
NLHF - This grant supported the museum through the Covid pandemic by contributing to core costs and to help prepare for reopening.
- 26 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **18 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 September**
**2018**
**£**
Education
Programme
10,806
10,806|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 September**
**2019**
**£**
**£**
**£**
1,667
9,777
2,696
1,667
9,777
2,696|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
8,333
(2,695)
8,333
(2,695)|**Balance at**
**31 August**
**2020**
**£**
8,334|
|---|---|---|---|
||||8,334|
Fund Structure
Education Programme - This includes funds received to support the Education Officer post.
## **19 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2020**
**2020**
**£**
**£**
Fund balances at 31
August 2020 are
represented by:
Tangible assets
1,173,589
-
Investment properties
299,861
-
Current assets/(liabilities)
126,843
-
1,600,293
-|**Total**
Unrestricted
funds
**2020**
2019
**£**
£
1,173,589
1,190,814
299,861
299,861
126,843
(32,338)
1,600,293
1,458,337|Restricted
funds
2019
£
-
-
-
-|Total
2019
£
1,190,814
299,861
(32,338|
|---|---|---|---|
||||1,458,337|
## **20 Operating lease commitments**
## **Lessor**
The charity owns two investment properties for rental purposes. At the reporting end date the charity has contracted with tenants for the following minimum lease payments:
||**2020**|**2019**|
|---|---|---|
||**£**|**£**|
|Within one year|-|16,854|
- 27 -
## **THE CENTRE FOR COMPUTING HISTORY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **21 Related party transactions**
No remuneration was paid to trustees in the current or previous financial year.
No expenses were paid to trustees or connected persons in the current or previous financial year.
During the year no Trustees made any donations to the charity. In 2019, 1 Trustee made a donation of £1,000,000.
In 2019 two trustees lent the charity £250,000 each. As at 31 August 2019, the first loan balance was £250,000, this amount has been fully repaid as at 31 August 2020. The second loan balance as at 31 August 2019 was £245,800 which is being repaid by installments, the balance as at 31 August 2020 is £220,600. No interest is being charged on either loan and both are unsecured.
## **22 Members Liability**
The charity is incorporated under the Companies Act 2006 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £10 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
- 28 -