| Page | |
|---|---|
| CompanyInformation | 1 |
| Trustees’Report | 2-5 |
| IndependentExaminer'sReport | 6 |
| StatementofFinancialActivities | 7 |
| BalanceSheet | 8 |
| StatementofCashFlows | 9 |
| NotestotheFinancialStatements | 10-16 |
| 2021 | Total Funds |
18,463 226,697 9,170 486 |
254,816 |
1,221 254,637 |
255,858 |
(1,042) | 636,151 | 635,109 |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted £ |
500 116,697 |
117,197 |
116,697 | 116,697 |
500 | 4,893 | 5,393 |
||||||||
| THEROYALSIGNALSMUSEUM (ACOMPANYLIMITEDBYGUARANTEE) |
STATEMENTOFFINANCIALACTIVITIESFORTHEYEARENDED31DECEMBER2022 | (IncorporatinganIncomeandExpenditureAccount) | 2022 | Unrestricted Restricted Total Unrestricted General Designated Funds General Designated Note £ £ £ £ £ £ INCOMEFROM |
Donationsandlegacies 21,874 - - 21,874 17,963 - Charitableactivities 3 125,000 - 83,897 208,897 110,000 - Othertradingactivities:Admissions 19,307 - - 19,307 9,170 - investments 4 1,436 - - 1,436 486 - N |
TOTALINCOME 167,617 - 83,897 251,514 137,619 - |
EXPENDITUREON | Raisingfunds 4,491 - - 4,491 1,221 - Charitableactivities 6 217,096 17,463 72,427 306,986 117,267 20,673 wo |
TOTALEXPENDITURE 221,587 17,463 72,427 311,477 118,488 20,673 |
NET(EXPENDITURE)AND | NETMOVEMENTINFUNDS (53,970) (17,463) 11,470 (59,963) 19,131 (20,673) Transferbetweenfunds - 10,228 (10,228) - - - Totalfundsbroughtforward 311,052 318,664 5,393 635,109 291,921 339,337 |
TOTALFUNDSCARRIEDFORWARD 257,082 311,429 6,635 575,146 311,052 318,664 |
Note13 Note13 Note14 |
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXEDASSETS | |||
| Tangibleassets | 353,474 | 362,433 | |
| Heritageassets | |||
| 353,474 | 362,433 | ||
| INVESTMENTINSUBSIDIARY | 10 | 1 | 1 |
| CURRENTASSETS | |||
| Debtors | 11 | 201,704 | 207,348 |
| Cashatbankandinhand | 102,799 | 134,534 | |
| 304,503 | 341,882 | ||
| CREDITORS:Amountsfallingduewithinoneyear | 12 | (82,832) | (69,207) |
| NETCURRENTASSETS | 221,671 | __272,675_ | |
| TOTALNETASSETS | 575,146 | 635,109 | |
| FUNDS | |||
| UNRESTRICTED | |||
| DesignatedFunds | |||
| FixedAssetFund | 300,827 | 316,660 | |
| OtherAssetFund | 10,602 | 2,004 | |
| 311,429 | 318,664 | ||
| GeneralFund | 257,082 | 311,052 | |
| 13 | 568,511 | 629,716 | |
| RESTRICTED | 14 | 6,635 | 5,393 |
| TotalFunds | 575,146 | 635,109 |
| 2022 | 2021 | |
|---|---|---|
£ |
£ |
|
| Cashflowsfromoperatingactivities | ||
| Netexpenditure | (59,963) | (1,042) |
| Adjustmentsfor: | ||
| Depreciationcharges | 22,453 | 22,456 |
| Investmentincomeshownininvestingactivities | (1,436) | (486) |
| (Increase)/Decreaseindebtors | 5,644 | 4,795 |
| Increase/(Decrease)increditors | 13,625 | 2,282 |
| Netcashprovidedbyoperatingactivities | (19,677) |
28,005 |
| Cashflowsfrom investingactivities | ||
| Interestanddividendsfrominvestments | 1,436 | 486 |
| Purchaseoffixedassets | (13,494) | (9,889) |
| Netcashprovidedbyinvestingactivities | (12,058) |
(9,403) |
| Changeincashandcashequivalentsintheyear | (31,735) | 18,602 |
| Cashandcashequivalentsbroughtforward | 134,534 | 115,932 |
| Cashandcashequivalentscarriedforward | 102,799 |
134,534 |
| 2 | DONATIONS | 2022 | 2021 | ||
Unrestricted |
Restricted |
TotalFunds |
TotalFunds |
||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| BlueCardMembershipScheme | 15,766 | - | 15,766 | 17,670 | |
| Disposalofexcessstoreditems | 3,350 | - | 3,350 | - | |
| Legacies | 1,000 | - | 1,000 | - | |
| Individuals | 1,654 | - | 1,654 | 293 | |
| Other | 104 | - | 104 | 500 | |
21,874 |
- |
21,874 |
18,463 |
||
| PriorYearTotals |
17,963 |
500 |
18,463 |
29,442 |
|
| 3 | CHARITABLEACTIVITIES:GRANTSRECEIVABLE | 2022 | 2021 | ||
Unrestricted |
Restricted |
TotalFunds |
TotalFunds |
||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| RoyalSignalsCharity-CorpsGrant | 125,000 | - | 125,000 | 110,000 | |
| GovernmentsGrants | |||||
| JobRetentionScheme | - | - | - | 44,270 | |
| ArmyMuseumsOgilvyTrust | |||||
| GrantinAid | - | 72,427 | 72,427 | 72,427 | |
| StoryTellingExhibitionequipment | - | 5,000 | 5,000 | - | |
| WCITCharity-STEMproject | - | 5,000 | 5,000 | - | |
| OutreachRadioTrailor | - | 1,470 | 1,470 | - | |
125,000 |
83,897 |
208,897 |
226,697 |
||
| PriorYearTotals |
110,000 |
116,697 |
226,697 |
234,079 |
|
| 4 | INVESTMENTINCOME | 2022 | 2021 | ||
Unrestricted |
Restricted |
TotalFunds |
TotalFunds |
||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| InterestonDepositAccounts | 930 | - | 930 | 9 | |
| InterestfromSubsidiaryCompany(note15) | 506 | - | 506 | 477 | |
| GiftAidpaymentsfromSubsidiaryCompany | |||||
| DonatedShopProfits(note15) | |||||
1,436 |
- |
1,436 |
486 |
||
| PriorYearTotals |
486 |
- |
486 |
10,885 |
|
| 5 | FUNDRAISING&PUBLICITYCOSTS | 2022 | 2021 | ||
Unrestricted |
Restricted |
TotalFunds |
TotalFunds |
||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| MuseumPublicity | 4,491 | - | 4,491 | 1,221 | |
4,491 |
- |
4,491 |
1,221 |
||
| PriorYearTotals |
1,221 |
- |
1,221 |
8,691 |
| 6 | CHARITABLEACTIVITIESCOSTS | 2022 | 2021 | ||
|---|---|---|---|---|---|
Unrestricted |
Restricted |
TotalFunds |
TotalFunds |
||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| Projectsandexhibitions | - | - | - | 103 | |
| StoryTellingRoomProject | 12,069 | 12,069 | - | ||
| transferredtoFixedAssets | (12,069) | - | (12,069) | - | |
| Maintenance | 800 | - | 800 | 438 | |
| Acquisitions—Artifacts,Books,Medals,Etc | 67 | - | 67 | 372 | |
| Outreach,VehicleCosts | 96 | - | 96 | 29 | |
963 |
- |
963 |
942 |
||
| Supportcosts: | |||||
| Salaries | 186,790 | 72,427 | 259,217 | 217,761 | |
| Redundancies | 6,131 | - | 6,131 | - | |
| Insurance | 5,936 | - | 5,936 | 5,936 | |
| ITSupport | 5,497 | - | 5,497 | 3,543 | |
| PersonnelExpenses | 1,807 | - | 1,807 | 386 | |
| VolunteerExpenses | 1,351 | - | 1,351 | 316 | |
| BankandCreditCardCharges | 265 | - | 265 | 50 | |
| MiscellaneousExpenses | 714 | - | 714 | 445 | |
| Depreciation(Note8) | 4,990 | - | 4,990 | 1,783 | |
| Governancecosts: | |||||
| TrusteeExpenses | 252 | - | 252 | - | |
| IndependentExamination | 2,400 | - | 2,400 | 2,802 | |
217,096 |
72,427 |
289,523 |
233,964 |
||
| FundedfromDesignatedFunds | |||||
| Depreciation(Note8) | 17,463 | - | 17,463 | 20,673 | |
234,559 |
72,427 |
306,986 |
254,637 |
| 7 | STAFF | COSTSANDREMUNERATIONOFKEYMANAGEMENTPERSONNEL | 2022 | 2021 | |
|---|---|---|---|---|---|
| a. | Staffcosts |
£ |
£ |
||
| Wagesandsalaries | 225,270 | 191,806 | |||
| Employer'sPensioncosts | 12,289 | 8,501 | |||
| Socialsecuritycosts | 21,658 | 17,454 | |||
259,217 |
217,761 |
| 8 | TANGIBLEFIXEDASSETS | TANGIBLEFIXEDASSETS | Fixturesand | Fixturesand | Fixturesand | Display | Display | Museum | Museum | |
|---|---|---|---|---|---|---|---|---|---|---|
| Fittings | assets | Building | Total | |||||||
| £ | £ | £ | £ | |||||||
| Cost | ||||||||||
| At1January2022 | 165,633 | 300,724 | 1,043,002 | 1,509,359 | ||||||
| Categorytransfers | 4,006 | (4,006) | - | - | ||||||
| AdditionsintheYear | 1,425 | 12,069 | - | 13,494 | ||||||
| At31December2022 | 171,064 |
308,787 |
1,043,002 |
1,522,853 |
||||||
| Accumulateddepreciation | ||||||||||
| At1January2022 | 163,629 | 290,835 | 692,462 | 1,146,926 | ||||||
| Depreciationfortheyear | 2,965 | 4,961 | 17,527 | 22,453 | ||||||
| At31December2022 | 166,594 |
292,796 |
709,989 |
1,169,379 |
||||||
| Net | bookvalue | |||||||||
| At31December2022 | 4,470 | 15,991 | 333,013 | 353,474 | ||||||
| At31December2021 | 2,004 |
9,889 |
350,540 |
362,433 |
||||||
| TheMuseumBuildingissubjectto impairthevalueofthebuilding,see |
negotiationofa notei. |
legallease |
withthe |
MinistryofDefence,whichcould |
||||||
| 9 | HERITAGEASSETS | |||||||||
| Heritageassetsarenotcapitalised disclosed inNote 1h. Theyhave |
inthefinancial anapproximate |
statements insurance |
inaccordancewiththeaccountingpolicy valueof£1,100,000,thisincludesassets |
|||||||
| acquiredinpastaccountingperiods. | ||||||||||
| TheTrusteesconsiderthecostofcarryingoutaprofessional thefinancialstatementstobeconsiderablecomparedtothe |
valuationtoincludetheseassetsatavaluein limitedadditionalbenefitderivedbytheusersof |
|||||||||
| thefinancialstatements. | ||||||||||
| 10 | INVESTMENTINSUBSIDIARY | 2022 | 2021 | |||||||
| The | RoyalSignalsMuseumTrading | CompanyLimited | ||||||||
| Registerednumber:03685523 | ||||||||||
| This | represents100%ofthesharecapital. | |||||||||
| The | principalactivityofthatCompanyistheoperation | ofthe | Museum'sshop. | Itstradingresultsfortheyear, | ||||||
| asextractedfromthefinancialstatements,areasfollows: | ||||||||||
| Turnover CostofSales Staffcosts Governmentgrants Depreciation Othercharges |
2022 £ 92,370 (65,073) (17,845) - (207) (5,966) |
2021 £ 93,322 (71,824) (44,632) 17,158 (253) (6,443) |
||||||||
| Taxation | ||||||||||
| GiftAiddonation | ||||||||||
| Net(Loss)/Profit | 3,279 |
(12,672) |
||||||||
| ShareCapital Shareholder'sDeficit |
1 (10,463) |
1 (13,742) |
| 11 | DEBTORS | 2022 | 2021 | |
|---|---|---|---|---|
£ |
£ |
|||
| AmountsduefromSubsidiary | 64,985 | 37,223 | ||
| AmountduefromRelatedCharity | 121,786 | 168,183 | ||
| OtherDebtors | 14,933 | 1,942 | ||
| Prepayments | - | - | ||
201,704 |
207,348 |
| 12 | CREDITORS-Amountfallingduewithinoneyear | 2022 | 2021 | ||
|---|---|---|---|---|---|
£ |
£ |
||||
| TradeCreditors | 2,518 | 378 | |||
| SocialSecurityandOtherTaxes | 6,825 | 4,680 | |||
| AccrualsandProvisions | 73,489 | 64,149 | |||
82,832 |
69,207 |
||||
| 13 | UNRESTRICTEDFUNDS | 1January | Movements | inYear | 31December |
| 2022 | Income | Expenditure | 2022 | ||
£ |
£ |
£ |
£ |
||
| DesignatedAssetFunds | |||||
| FixedAssetFund | 316,660 | - | (15,833) | 300,827 | |
| OtherAssetsFund | 2,004 | 10,228 | (1,630) | 10,602 | |
318,664 |
10,228 |
(17,463) |
311,429 |
||
| GeneralFund | 311,052 | 167,617 | (221,587) | 257,082 | |
629,716 |
177,845 |
(239,050) |
568,511 |
||
| 1January | Movements | inYear | 31December | ||
| 2021 | Income | Expenditure | 2021 | ||
£ |
£ |
£ |
£ |
||
| DesignatedAssetFunds | |||||
| FixedAssetFund | 333,326 | - | (16,666) | 316,660 | |
| OtherAssetsFund | 6,011 | - | (4,007) | 2,004 | |
339,337 |
- |
(20,673) |
318,664 |
||
| GeneralFund | 291,921 | 137,619 | (118,488) | 311,052 | |
631,258 |
137,619 |
(139,161) |
629,716 |
| 14 | RESTRICTEDFUNDS | 1January | Movements | inYear | 31December |
|---|---|---|---|---|---|
| 2022 | Income | Expenditure | 2022 | ||
£ |
£ |
£ |
£ |
||
| MedalGalleryRefurbishmentProject | 1,135 | - | - | 1,135 | |
| OutreachRadioTrailor | 4,258 | 1,470 | (5,228) | 500 | |
| STEMProjectequipment | - | 5,000 | - | 5,000 | |
| StoryTellingRoom | - | 5,000 | (5,000) | - | |
| GrantinAid | - | 72,427 | (72,427) | - | |
5,393 |
83,897 |
(72,427) |
6,635 |
||
| {January | Movements | inYear | 31December | ||
| 2021 | Income | Expenditure | 2021 | ||
£ |
£ |
£ |
£ |
||
| MedalGalleryRefurbishmentProject | 1,135 | - | - | 1,135 | |
| OutreachRadioTrailor | 3,758 | 500 | - | 4,258 | |
| CorpsGrantandGrantinAid | - | 116,697 | (116,697) | - | |
4,893 |
117,197 |
(116,697) |
§,393 |
| 15 | RELATEDPARTYTRANSACTIONS | RELATEDPARTYTRANSACTIONS | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
£ |
£ |
|||||
| a_ | TheCharity isrelatedtoTheRoyalSignalsMuseumTradingCompany |
|||||
| Limited,itssubsidiary. | ||||||
Attheyearendtheamountreceivableamountedto |
64,985 |
37,223 |
||||
| Themovementinthisdebtconsistedoftheneteffectofbothreceiptsandpayments | ||||||
| byeachCompanyonbehalfoftheother,andincluded: | ||||||
| Provisionforslowmovingandredundantshopstock | - | - | ||||
| IncreasearisingfrominterestduefromtheTradingCompany | 506 | 477 | ||||
CharitableDonationfromtheTradingCompany |
- |
- |
||||
| b | TheCharityisalsorelatedtotheRoyalSignalsCharity(anunincorporatedcharity)due |
to |
||||
| theirrelatedobjectivesandactivities. | ||||||
Attheyearendtheamountreceivableamountedto |
121,786 |
168,183 |
||||
Duringtheyeargrantsreceivableamountedto |
125,000 |
110,000 |