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← The Centre For Computing History

2023-08-31-accounts

Charity registration number 1130071

Company registration number 06348133 (England and Wales)

THE CENTRE FOR COMPUTING HISTORY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

THE CENTRE FOR COMPUTING HISTORY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr DEM Halstead Mr MP Muller Mr GT Marlow Mr BE Davies (Appointed 5 July 2023) Mr PR Searle (Appointed 5 July 2023) Mr PJ F Howell (Appointed 25 October 2023) Mrs ST Cheng (Appointed 25 October 2023) Mrs C Smith (Appointed 25 October 2023) Charity number 1130071 Company number 06348133 Principal address 1 Rene Court Coldhams Road Cambridge Cambridgeshire England CB1 3EW Registered office 1 Rene Court Coldhams Road Cambridge Cambridgeshire England CB1 3EW Independent examiner Sotos Christophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rose Lane Norwich Norfolk England NR1 1BY

THE CENTRE FOR COMPUTING HISTORY LIMITED

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5 - 6
Notes to the financial statements 7 - 20

THE CENTRE FOR COMPUTING HISTORY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees present their trustees report and financial statements for the year ended 31 August 2023. The annual report can be found on page 20.

The financial statements have been prepared in accordance with the accounting policies set out in 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 activites

The trustees have paid due regard to guidance issued 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 charity is to promote, maintain, improve and advance public education in the history of computing.

Achievements and performance

Financial review

Total incoming resources in the year amounted to £422,033 (2022: £414,367). With total expenditure incurred at £452,107 (2022: £398,612), overall the net movement in funds was a net outflow of £30,074 (2022: a net inflow of £15,755).

The net assets of the charity at the balance sheet date were £1,645,225 compared with £1,675,299 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 £1,645,225 (2022: £1,675,299). Of these, £1,304,096 (2022: £1,295,012) are restricted funds over which there are specific conditions relating to their application. Unrestricted reserves at the year-end date total £341,129 (2022: £380,287).

The reserves at the year ended 2023, include cover for an unsecured loan of £145,000 (2022: £170,200) representing the charity’s outstanding loan commitments.

It is the charity's policy that the general (unrestricted) reserves should not fall below £100,000. At the year-end date the charity was meeting its reserves policy.

Plans for future periods

The charity believes that any investment in our collections is money well spent. This includes the decision made to replace the roof on our collections store which will use a significant part of our reserves. The total cost of the project is £80,422 (plus VAT), with only £14,860 (plus VAT) falling into 2022-23 and the reminder amount falling into the following financial year 2023-24, as the work was undertaken in September 2023.

Structure, governance and management

The charity is a registered charity and a company limited by guarantee, incorporated in the United Kingdom and registered in England and Wales, governed by its Memorandum and Articles of Association dated 20 August 2007. It is registered as a charity with the Charity Commission for England and Wales. The Board of Trustees is responsible for managing the business of the charity and there are regular scheduled meetings of the Board each year. Responsibility for the day to day running of the charity is given to Lisa McGerty.

THE CENTRE FOR COMPUTING HISTORY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr DEM Halstead Mr MP Muller Ms EF C S Upton (Resigned 23 January 2024) Mr GT Marlow Mr BE Davies (Appointed 5 July 2023) Mr PR Searle (Appointed 5 July 2023) Mr PJ F Howell (Appointed 25 October 2023) Mrs ST Cheng (Appointed 25 October 2023) Mrs C Smith (Appointed 25 October 2023)

Trustees are appointed by the Annual General Meeting or by resolution of the Board of Trustees. The number of trustees shall not be less than two and the total number is not subject to any maximum unless otherwise determined by an ordinary resolution of the Annual General Meeting.

It is the policy of the Trust to appoint new trustees via open recruitment processes and occasionally by personal invitation where particular knowledge, skills and backgrounds would be helpful in furthering the charity's aims. It also seeks to recruit trustees via broader recruitment campaigns where appropriate. All new trustees are provided with an induction session on site and meetings with the Management Team. They are also directed to the Charity's Commission advice and guidance for trustees.

The Trustees report was approved by the Board of Trustees.

.............................. Mr GT Marlow Trustee

Date: ............................................. 22 May 2024

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 2023.

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:

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.

Sotos Christophi FCCA

Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rose Lane Norwich Norfolk NR1 1BY England

Dated: .........................

THE CENTRE FOR COMPUTING HISTORY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
165,992
106,800
Charitable activities
5
109,349
40
Investments
4
39,851
-
Total income
315,192
106,840
Expenditure on:
Raising funds
6
19,016
2,976
Charitable activities
7
336,150
93,965
Total expenditure
355,166
96,941
Net income/(expenditure)
(39,974)
9,899
Transfers between
funds
(29,352)
29,352
Net movement in
funds
(69,326)
39,251
Reconciliation of funds:
Fund balances at 1 September
2022
380,287
1,295,012
Fund balances at 31 August
2023
310,961
1,334,263		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
272,792
133,558
82,769
109,389
119,781
39,468
39,851
38,791
-
422,032
292,130
122,237
21,992
18,084
5,299
430,115
268,126
107,103
452,107
286,210
112,402
(30,075)
5,920
9,835
-
(1,483)
1,483
(30,075)
4,437
11,318
1,675,299
375,850
1,283,694
1,645,224
380,287
1,295,012		 Total
2022
£
216,327
159,249
38,791
414,367
23,383
375,229
398,612
15,755
-
15,755
1,659,544
1,675,299

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE CENTRE FOR COMPUTING HISTORY LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2023

Notes
Fixed assets
Tangible assets
11
Heritage assets
12
Investment property
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Restricted income funds
21
Unrestricted funds		 2023
£
£
1,175,285
40,000
299,861
1,515,146
15,456
23,083
276,311
314,850
(184,772)
130,078
1,645,224
1,645,224
1,334,263
310,961
1,645,224		 2022
£
£
1,160,655
-
299,861
1,460,516
15,008
24,225
386,979
426,212
(211,429)
214,783
1,675,299
1,675,299
1,295,012
380,287
1,675,299		 2022
£
£
1,160,655
-
299,861
1,460,516
15,008
24,225
386,979
426,212
(211,429)
214,783
1,675,299
1,675,299
1,295,012
380,287
1,675,299
1,460,516
214,783
1,675,299
1,675,299
1,295,012
380,287
1,675,299

The notes on pages 7 to 20 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

THE CENTRE FOR COMPUTING HISTORY LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2023

The financial statements were approved by the trustees on ......................... 22 May 2024

..............................

Mr GT Marlow Trustee

Company registration number 06348133 (England and Wales)

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

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, Cambridgeshire, CB1 3EW, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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.

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 or grantors 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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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.

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

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.

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:

Freehold land and buildings 50 years Straight Line Plant and equipment 3-5 years Straight Line Fixtures and fittings 5-10 years Straight Line

Freehold land and assets in the course of construction are not depreciated.

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 the statement of financial activities.

1.7 Investment property

Investment property, which is property held to earn rentals and/or for 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. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 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 trustees consider that the property has indefinite life and so systematic annual depreciation would be inappropriate. The property is included on the Balance Sheet at deemed cost.

1.9 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).

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 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.

1.12 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.

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
165,992
2,328
Grants receivable
-
104,472
165,992
106,800
Donations and gifts
Admission Fees-walk in
147,670
2,280
Donations
7,523
48
Gift Aid
10,799
-
165,992
2,328		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
168,320
133,558
6,468
104,472
-
76,301
272,792
133,558
82,769
149,950
114,805
-
7,571
18,714
6,468
10,799
39
-
168,320
133,558
6,468		 Total
2022
£
140,026
76,301
216,327
114,805
25,182
39
140,026

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

4 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income 38,828 38,750
Interest receivable 1,023 41
39,851 38,791

5 Charitable activities

Charitable
Income
Other trading
activities
2023
2023
£
£
Shop Sales
9,215
38,119
Patreon
2,902
-
Event Fees
9,682
-
Sponsorship
5,500
-
Education Services
28,720
-
Insurance Claims
-
-
Other Income
2,063
-
Private Hire Admissions
-
13,188
58,082
51,307		 Total
2023
Charitable
Income
Other trading
activities
2022
2022
£
£
£
47,334
24,011
31,373
2,902
4,538
-
9,682
58,282
-
5,500
1,586
-
28,720
18,454
-
-
350
-
2,063
7,078
-
13,188
-
13,577
109,389
114,299
44,950		 Total
2022
£
55,384
4,538
58,282
1,586
18,454
350
7,078
13,577
159,249

6 Expenditure on raising funds

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Trading costs
Stock Purchases (Stock
Adjusted) 19,016 2,976 21,992 18,084 5,299 23,383

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

7 Charitable activities

Charitable Charitable
Expenditure Expenditure
2023 2022
£ £
Staff costs 287,724 246,884
Depreciation and impairment 21,793 21,286
Rent, Rates and Utility Costs 30,499 39,020
Insurance 11,912 10,646
Repairs, maintenance and office equipment 21,191 16,910
Advertising and Marketing 4,783 4,208
Display Development 8,450 3,102
Postage 2,569 4,707
Stationery - 674
Travel 1,116 81
Exhibition expenses 3,676 2,930
Admission fees 3,386 1,578
Legal and Professional 21,504 10,667
Independent Examiner's Fees 5,500 5,280
Bookkeeping 1,718 1,890
Bank charges 3,953 3,438
Bad Debt Written Off (225) -
Other charitable expenditure 566 1,928
430,115 375,229
Analysis by fund
Unrestricted funds 336,150 268,126
Restricted funds 93,965 107,103
430,115 375,229

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

Permanent staff
Casual staff
Total		 2023
Number
10
2
12		 2022
Number
11
2
13

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
261,627
229,287
16,778
12,913
9,319
4,684
287,724
246,884		 (Continued)
2023
2022
£
£
261,627
229,287
16,778
12,913
9,319
4,684
287,724
246,884
246,884

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 September 2022
1,165,118
Additions
14,860
Disposals
-
At 31 August 2023
1,179,978
Depreciation and impairment
At 1 September 2022
37,669
Depreciation charged in the year
11,591
Eliminated in respect of disposals
-
At 31 August 2023
49,260
Carrying amount
At 31 August 2023
1,130,718
At 31 August 2022
1,127,449		 Plant and
equipment
Fixtures and
fittings
£
£
89,517
71,889
22,039
-
(817)
-
110,739
71,889
82,764
45,434
3,778
6,357
(272)
-
86,270
51,791
24,469
20,098
6,751
26,455		 Total
£
1,326,524
36,899
(817)
1,362,606
165,867
21,726
(272)
187,321
1,175,285
1,160,655

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

12 Heritage assets

At 1 September 2022
Purchases
At 31 August 2023
13
Investment property
Fair value
At 1 September 2022 and 31 August 2023		 £
-
40,000
40,000
2023
£
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.

Freehold
14
Stocks
Finished goods and goods for resale
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
299,861
2023
£
15,456
2023
£
2,624
556
19,903
23,083		 2022
£
299,861
2022
£
15,008
2022
£
12,272
401
11,552
24,225

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

16 Creditors: amounts falling due within one year

Notes
Borrowings
Other taxation and social security
Deferred income
19
Trade creditors
Accruals and deferred income		 2023
£
145,000
813
3,229
27,749
7,981
184,772		 2022
£
170,200
2,591
4,029
16,050
18,559
211,429
17
Loans and overdrafts
Loans from related parties
Payable within one year		 2023
£
145,000
145,000		 2022
£
170,200
170,200

The loans from related parties have no security and are interest free.

In 2019 a former trustee, Mr N Davidson (resigned 23 March 2021), lent the charity £250,000. At 31 August 2022, the balance was £170,200. At 31 August 2023, the balance is £145,000. No interest is being charged on the loan and it is unsecured.

18 Retirement benefit schemes

Retirement benefit schemes
2023 2022
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 5,110 4,475

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 19 Deferred income

2023 2022
£ £
Other deferred income 3,229 4,029

Deferred income is included in the financial statements as follows:

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

19 Deferred income (Continued)
2023 2022
£ £
Deferred income is included within:
Current liabilities 3,229 4,029
20 Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 August 2023:
Tangible assets 58,664 1,116,621 1,175,285
Heritage assets 40,000 - 40,000
Investment properties 220,247 79,614 299,861
Current assets/(liabilities) (7,950) 138,028 130,078
310,961 1,334,263 1,645,224
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
At 31 August 2022:
Tangible assets 29,445 1,131,210 1,160,655
Investment properties 220,247 79,614 299,861
Current assets/(liabilities) 130,595 84,188 214,783
380,287 1,295,012 1,675,299

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 September
2021
£
Odyssey
27,576
Women in Computing
1,116
Education Programme
3,000
Aim Conservation Grant
-
Virtual Computer Collector
883
Citrix Education Fund
11,082
Leo NLHF
-
Tangible Fixed Assets
1,224,368
NLHF Emergency Covid Grant
1,816
Web@30
5,495
Early Years
8,358
1,283,694		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
1 September
2022
£
£
£
£
-
(209)
-
27,367
-
(122)
-
994
-
-
-
3,000
2,003
(1,707)
-
296
94
-
-
977
-
(1,578)
-
9,504
76,301
(54,099)
-
22,202
-
(15,027)
1,483
1,210,824
-
(1,750)
-
66
43,839
(35,115)
-
14,219
-
(2,795)
-
5,563
122,237
(112,402)
1,483
1,295,012		 Movement in funds
Incoming
resources
Resources
expended
Transfers
£
£
£
-
(62)
-
-
(431)
-
-
(133)
8,513
91
(426)
-
88
-
-
-
(3,386)
-
104,381
(68,728)
-
-
(13,754)
20,839
-
-
-
2,280
(9,668)
-
-
(353)
-
106,840
(96,941)
29,352		 Balance at
31 August
2023
£
27,305
563
11,380
(39)
1,065
6,118
57,855
1,217,909
66
6,831
5,210
1,334,263

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

21 Restricted funds

(Continued)

Fund Structure

Odyssey - This includes funds received for the purpose of refurbishing the main gallery space.

Women In Computing - This includes funds received to advance knowledge of the role of women in computing through events and education. Education Programme - This fund supports the learning programme.

AIM Conservation Grant - This fund relates to the management of museum collections.

Virtual Computer Collector - The fund was contributed by supporters for the purpose of purchasing or repairing collection items. Citrix Education Fund - This fund relates to amounts received to subsidise school visits to the museum.

LEO NLHF - This fund relates to amounts received for a digitisation and research project on LEO Computers. Tangible Fixed Assets - 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. Web@30 - This fund supports temporary or digital exhibitions.

Early Years - This fund is to increase provision for very young visitors to the museum.

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

22 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds Movement in funds
Balance at Incoming Resources Balance at Resources Transfers Balance at
1 September resources expended 1 September expended 31 August
2021 2022 2023
£ £ £ £ £ £ £
Education
Programme 8,334 179 - 8,513 - (8,513) -
Maintenance
Fund 35,000 - - 35,000 - - 35,000
43,334 179 - 43,513 - (8,513) 35,000

Education Programme - This includes funds received to support the Education Officer post.

The Maintenance Fund - This was an amount agreed by the Trustees that was ringfenced for any substantial repairs that may occur.

23 Capital commitments 2023 2022
£ £
Amounts contracted for but not provided in the financial statements:
2023 2022
£ £
Additions on Freehold Land and Buildings 65,562 -

The charity made the decision to replace the roof on our collections store which will use a significant part of our reserves. The total cost of the project is £80,422 (plus VAT), with only £14,860 (plus VAT) falling into 202223 and the reminder amount £65,562 (plus VAT) falling into the following financial year 2023-24, as the work was undertaken in September 2023.

24 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 while he or she is still a member or within one year thereafter.

25 Related party transactions

THE CENTRE FOR COMPUTING HISTORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

25 Related party transactions

(Continued)

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 a former trustee, Mr N Davidson (resigned 23 March 2021), lent the charity £250,000. At 31 August 2022, the balance was £170,200. At 31 August 2023, the balance is £145,000. No interest is being charged on the loan and it is unsecured.