# **BRISTOL MUSEUMS DEVELOPMENT TRUST (A COMPANY LIMITED BY GUARANTEE)** ## **30 SEPTEMBER 2021** **Company registration Number 06685688 Charity Number 1137777** **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** |**Contents**|||**Pages**| |---|---|---|---| |Reference & Administrative Information|||**1**| ||||**2 - 12**| ||||**13**| |Statement of Financial Activities|||**14**| |Balance Sheet|||**15**| |Notes to the Financial Statements|||**16 - 24**| **BRISTOL MUSEUMS DEVELOPMENT TRUST** **REFERENCE & ADMINISTRATIVE INFORMATION** ## **YEAR ENDED 30 SEPTEMBER 2021** **Trustees** Nigel Hardy (Chair) Frank Arko - Tharkor Cllr Craig Cheney Victoria FitzGerald (Resigned 30 June 2021) Fiona Hallworth Pamela Reid Yoma Smith Karen White Holly Woodhouse Samuel Alvis (Appointed 2 March 2021) Eleanor Denney (Appointed 2 March 2021) Simon Face (Appointed 2 March 2021) **Company registered** 06685688 **number Charity registration** 1137777 **number Registered office** Bristol Museum & Art Gallery Queens Road Bristol BS8 1RL **Independent Examiner** Joshua Kingston BSc (Hons) ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR **Bankers** Natwest Bank PLC PO Box 238 32 Corn Street Bristol BS99 7UG 1 **BRISTOL MUSEUMS DEVELOPMENT TRUST REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **EXECUTIVE SUMMARY** This is a reporting year like no other. Along with many other UK cultural institutions, the museums and archives that Bristol Museums Development Trust raises money for, have closed their doors during the lockdowns introduced to combat the Covid-19 pandemic. While the pandemic is not over, it appears that we are now on the road to recovery, as many museums and archives have reopened their doors and welcomed visitors back, albeit often with reduced numbers and services. Covid-person donations, particularly from visitors, as a result of these temporary closures. Bristol Museum & Art Gallery (BMAG), M Shed and the Bristol Archives were only able to reopen their doors in May 2021, and all are operating at reduced capacity. The Red Lodge Museum, the Georgian House Museum and Blaise Museum have all remained closed to visitors throughout this reporting period. Nevertheless, the trustees of Bristol Museums Development Trust have been impressed with the dedication and speed with which team members of Culture and Creative Industries (Bristol City Council) worked to ensure they could provide visitors with a safe and secure visit. The trustees would The temporary closures of museums and the curtailment of in-person activity programmes had funds in the previous period. This year we have seen a greater number of requests for funding come through to the Trust as the museum staff begin to build back up to a full programme of exhibitions, events and projects, some of which are detailed below. Looking forward, the Trust is in the fortunate position of holding strong reserves, and we will use Museums to fully utilise their collections and sites. To gain a wider perspective on possible but also what is happening in the cultural and heritage sector across Bristol. The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Bristol Museums Development Trust (the company) for the year ended 30 September 2021. The trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **a. CONSTITUTION** The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 1 September 2008. The company is constituted under a Memorandum of Association dated 1 September 2008 and its registered charity number is 1137777. 2 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES** Those acting as trustees during the year ended 30 September 2021 are listed in the Legal and Administrative Information on page 1. The Trust may have between five and twelve trustees. The term of office is three years, after which a trustee is eligible for re-election for one further term which may be of one, two or three years as resolved by the trustees. After two consecutive terms, a trustee is eligible for re-election only after a year has elapsed since he or she retired as trustee. However, if the trustees consider it in the best interests of the Trust, a trustee may be re-elected on his or her retirement. From time to time, conflicts of interest will occur and trustees are required to declare any potential interests and withdraw themselves from any decisions if appropriate. New trustees are appointed by the existing trustees, following a formal recruitment process. The Trust's aim is to include persons with a wide range of skills and experience who are sympathetic to its purpose of supporting the promotion and development of Bristol Museums and Bristol Archives, and who in turn will make the needs and opportunities of the service widely known. In March 2021, 3 new trustees, Sam Alvis, Ellie Denney and Simon Face, were appointed to the Trust. The trustees would like to thank all previous trustees who have served the Trust during previous periods including Victoria Fitzgerald who resigned during the year. ## **c. ORGANISATIONAL STRUCTURE AND DECISION MAKING** The operations of the Trust are closely related to those of Culture and Creative Industries within which Bristol Museums and Bristol Archives sit, as part of Bristol City Council. The Trust maintains its independence due to the fact that the number of trustees representing the local authority is restricted to no more than twenty percent of the total number of trustees. At Board meetings the trustees review the progress of fundraising initiatives, supported by the Development Team at Culture and Creative Industries. Major decisions of the Trust are made after listening to the views of the senior management of Culture and Creative Industries. The Trustees have completed a Governance review during the period. This has led to both the establishment of new policies and the refreshing of some existing policies. The Trustees will perform ## **d. RISK MANAGEMENT** over a longer period of time, for example through developing individual giving including gifts in wills. The ability to raise funds is seen as temporarily impacted by the Covid-19 pandemic, however, trustees do not currently see this as a significant risk to the charity, as the level of reserves currently held is sufficient to provide sustainability of the Trust. ## **OBJECTIVES AND ACTIVITIES** ## **a. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** The Trust was established on 1 September 2008, as the Museum of Bristol Development Trust, and on 11 April 2010 changed its name to Bristol Museums Development Trust to better reflect the scope (and registered at Companies House on 6 August 2013) to: 3 **BRISTOL MUSEUMS DEVELOPMENT TRUST** **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** museums, galleries and archives of artefacts, art, documents, and other associated material in Bristol, including the collection, storage, research and conservation of all such material; and (II) to advance the education of the public (in particular but without limitation to those living within the greater Bristol area and those geographic, ethnic and disabled communities who do not traditionally attend museums and galleries) in particular (but not limited to) by providing support to the provision and improvement of the facilities, collections, exhibitions, formal and informal learning opportunities, public events and other educational activities, including in digital form, available to the public at the museums, galleries and archives in Bristol and withi There are seven visitor sites within the Culture and Creative Industries portfolio, all of which have no general admission fee. - The Edwardian Bristol Museum & Art Gallery (BMAG) has galleries over three floors with a diverse range of objects, from Jurassic marine reptiles to magnificent art. · use as a 1950s transit shed, while tellin objects and people who shaped the city. · Blaise Museum is housed in an 18th century mansion built for Bristol merchant and banker John Harford. The dairy and conservatory were designed by John Nash, and today highlights include the picture room and recreated Victorian classroom. · The Red Lodge Museum, built in 1580 as a lodge for the Great House that once stood on the site of the present Colston Hall, is furnished in Elizabethan, Stuart and Georgian styles. Interesting features include the Great Oak Room, with its original Elizabethan plasterwork ceiling and wall panelling, and the Elizabethan style knot garden. · The Georgian House Museum, built in 1790 for wealthy slave owner and sugar merchant John Pinney, and for a time home to the enslaved African Pero, is displayed as it might have looked in the 18th century to give visitors an insight into life above and below stairs. · Bristol Archives, establishe for example those relating to its churches and and former major employers J S Fry & Sons. Visitors can access over 800 years of Bristol history and enjoy regular exhibitions, workshops, and screenings from the Film Archive. - Kings Weston Roman Villa was discovered during construction of the Lawrence Weston housing estate and is a late 3rd century villa complete with bath suite, mosaic floors and Roman central heating. Through permanent displays, a diverse programme of world-class exhibitions and events, learning programmes with schools, and work with local communities, these sites inspire the people of Bristol and beyond to learn about Bristol and the wider world. Temporary exhibitions at Bristol Museum and Art Gallery and M Shed may be ticketed or visitors may be going direct to Bristol Museums and Bristol Archives, part of Bristol City Council. Optional donations can also be made to BMDT when purchasing tickets for temporary exhibitions or booking free admission tickets to the museums. 4 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **b. PUBLIC BENEFIT** The trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit in exercising their powers or duties. They have referred to this guidance when reviewing the Charity's aims and objectives and in planning its future activities. ## **c. AIMS, OBJECTIVES AND STRATEGY** strategy of developing both restricted income, for projects and capital activity, and unrestricted income from general donations. ## **ACHIEVEMENTS AND PERFORMANCE** ## **a. GOING CONCERN** After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate re to raise funds and to grant funds has been significantly but temporarily limited by the Covid-19 pandemic, however, the strong reserves position and the low level of charity running costs means that trustees continue to adopt the going concern basis in preparing financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **b. OVERVIEW** The benefits of the Trust's work are in supporting the ongoing and future success of Bristol Museums and Bristol Archives. The trustees recognise the achievements of the Trust by its ability to provide funding, both in the financial year under review and into the future. During the period covered by this report the Trust focused on rebuilding unrestricted income from visitor donations and related activities, as part of the recovery from the pandemic. This unrestricted income is allocated by the Trust to a host of projects collections and venues. ## **UNRESTRICTED INCOME** ## Donation streams The unrestricted income is made up of a variety of donation streams, including income from donation boxes, welcome desks, online donations, regular direct debits, contactless giving points, the Patron Circle, appeals, donations on tickets and gift aid. Unfortunately, the ongoing Covid-19 pandemic, and the closure of the museums between November 2020 and May 2021, continued to impact the ability of the Trust to maintain the amount of donations achieved in previous years. During the current period a total of **£82,192** was received in unrestricted donations (compared to **£99,638** during the previous period). ## Visitor and other individual donations Following a national lockdown, M Shed and Bristol Archives reopened to the public on 8 September 2020 with Bristol Museum & Art Gallery reopening a week later on 15 September 2020. Unfortunately, the Museums were forced to close again on 5 November, for a further 6 months, reopening in the second half of May 2021. In order to maintain social distancing measures, capacity at both sites has been reduced. The Red Lodge, Georgian House and Blaise House Museum have remained closed throughout. 5 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** During the periods when the Museums were open, staff at welcome desks at both M Shed and Bristol Museum & Art Gallery continued to greet visitors, ask for donations and encourage donors to gift aid. Cash donations were made at donation boxes located within the Museums and cashless donations were made via contactless giving points located at both BMAG and M Shed. When Bristol Museum & Art Gallery and M Shed reopened in September 2020, a new policy was introduced, whereby visitors were required to book a (free) timed entry ticket. This enabled staff to manage visitor numbers and ensure social distancing at each site. These tickets were available to book online, with visitors encouraged to make a £1 suggested donation during the booking process. This process continues now. At Bristol Museum & Art Gallery, when open, total donations from visitors amounted to **£24,274** (compared to **£36,026** the previous year). This included **£12,706** which was received from donations made when booking free museum entry tickets and chargeable exhibition tickets (previous period **£610** ). At M Shed, when open, total donations from visitors amounted to **£29,781** (compared to **£37,559** during the last period). This included **£21,709** which was received from donations made when booking free museum entry tickets and chargeable exhibition tickets (previous period **£29,505** ). The first contactless donation box was installed at M Shed in December 2018. Following the impact of the pandemic, the Trust is keen to promote further opportunities for cashless giving and further devices have been installed at M Shed and Bristol Museum and Art Gallery in order to facilitate socially distanced donations from visitors. During the financial year the Trust received **£1,186** from contactless donations (compared to **£1,253** in the previous financial year). The Trust anticipates that donations via this method will increase in future years. During the museum closures, additional focus was placed on generating online donations via the to **£8,832** (compared to **£3,714** during the previous period). The Trust also continued the Direct Debit programme, for donors who wished to make regular donations throughout the year. During the current period, a total of **£1,595** was received, compared to **£1,065** in the previous period. An additional **£4,706** of unrestricted income was generated from gift aid claims related to unrestricted donations (compared to **£6,327** during the previous period). ## The Patron Circle The Patron Circle is an annual membership scheme for individuals who want to develop a closer relationship with Bristol Museums, their expert curators and museum staff, and expand their knowledge of the collections. The benefits of joining the Patron Circle include invitations to private views, curatorled behind the scenes tours including an early morning one with breakfast, a summer party, and subscription to the donor newsletter _Treasure_ . Patrons can spread their payments using direct debit. despite the fact that many of our benefits were unable to be offered. Patrons have been kept informed and in September the first in-person Patron Circle event since February 2019 was held at Blaise Castle Estate. The trustees are incredibly grateful for the support of its patrons. In the current period, the Patron Circle generated a total income of **£11,250** (compared to **£10,833** during the previous period), before gift aid was applied. 6 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **DESIGNATED AND RESTRICTED FUNDS** The Trust receives restricted donations from individuals and organisations which are held in restricted funds and used strictly in accordance with the donors' wishes. The Trust also channels a portion of the unrestricted donations it receives from visitors across Bristol Mus collections and historic buildings and engage with schools and communities in areas of disadvantage across the city. Funding was received for several projects across allocated unrestricted income towards a number of projects. Some of these are detailed below. ## **MEND (Museum Estate and Development Fund) Match-funding** In September 2021 the Board approved a request from BC&CI (Bristol Culture & Creative Industries) to offer a match fund for this Capital project planned to take place at Bristol Museum & Art Gallery. MEND is an open access capital fund targeted at non-national accredited museums and local authorities to apply for funding to undertake vital infrastructure and urgent maintenance and for successful sites to improve their core infrastructure by tackling maintenance budgets and reducing the immediate risk to buildings, visitors, staff and collections due to improved core infrastructure. Protecting the fabric and longevity of the structure of BMAG will allow it to act as a community and civic focal point for Bristol. The application required a minimum of 10% partnership match funding from other sources. Based on the sums sought this would potentially be in the region of £100,000. The final figure is dependent on the outcome of the application to MEND, due during the next financial period. ## **Black Lives Matter Artistic Commission** In June 2020, (the previous period) Mr Simon Baker made a donation to commission a new work that was inspired by or built on the events of the summer 2020 and the Black Lives Matter (BLM) movement. Our donor was moved by events to offer this gift. In October 2020, Jasmine Thompson was selected by a panel of judges to produce the artwork. The from June 2021, where it has been seen by around 59,000 visitors. Jasmine Thompson worked on the mural in-situ so visitors to the museum were able to see it take shape over a three-week front of them, as it felt important for young people or other artists of colour to see that these doors are there for them too. Working live also gave people the space to ask questions and approach me about collection. Three cut outs of the mural were also created to populate the museum, and act as intriguing signposts to the main work. The donation has allowed the museum to acquire a new work by a person of colour, thereby making the collection more representativ engagement with and relevance to important contemporary issues, in this instance, the BLM campaign. 7 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** The aim is that the commission makes visitors feel that the museum is listening to concerns and is a safe space for all. ## **Bristol Photo Festival acquisitions** In March 2021, the Trust awarded £6,000 to this project to be used as match funding towards the ACE V&A Purchase Grant Fund. A further £14,602 was raised from the Friends and £12,702 was secured from ACE V&A Purchase Grant Fund. The funding allowed BMAG to acquire a total of 19 photographs by 5 artists who exhibited in the Bristol Photo Festival at the museum. _A Sense of Place - Bristol Photo Festival_ took place across Bristol in Summer 2021. BMAG hosted shows curated from the Martin Parr Foundation collection, a solo show by James Barnor, a new commission from Sarah Waiswa, and interventions in the art galleries by Heather Agyepong, Jessa Fairbrother and Lua Ribeira. The acquisitions include five photographs from James Barnor, a Ghanaian photography pioneer who charted Independence in 1959 before relocating to London where he photographed African and Caribbean migrants, models and sportsmen, documenting the changing pop- and multicultural UK. Two works were from Jessa Fairbrother and four from Lua Ribeira, who are both Bristol-based female artists whose work draws out alternative perspectives on the Renaissance, Pre-Raphaelite, French Modernist and British whose performative work brings an African perspective to historic portraiture. Sarah Waiswa worked with the Empire and Commonwealth Collection reinterpreting archive photographs from Kenya for a 21st century postcolonial audience and combining with her own practice to create unique works, four of which were acquired for this project. These acquisitions will form a collection, while also supporting contemporary art practice in Bristol and beyond. They secure for Bristol some key examples of contemporary photographic practice from the UK and Africa for the c ## **Japanese Porcelain - the Irene Finch collection** In 2012 a large collection of Japanese ceramics, dating from the 17th to the 20th centuries was donated to Bristol Museum by a collector, Miss Irene Finch (1918-2019). There are over 1000 pieces. The collection helps to tell the fascinating story of competition between Japan and China for the European market. properly. In late 2019, an anonymous donor, with a passion for Japanese art, funded the cost of this project with a donation of £79,000 over two years. This funds the cost of a two-year, fixed-term post for a curator to work solely on the Japanese Porcelain collection. This is one of the largest donations that the Trust has received to date and the trustees wish to express their sincere gratitude for the generosity of this anonymous donor. The post was originally scheduled to be advertised during the financial year ended 30 September 2020, but the coronavirus pandemic pushed that back as lockdown meant that even if the post had been filled, the curator would not have been able to access the collection onsite. The role was filled at the end of 2020 with the new curator commencing work on this exciting project in December 2020. The funding has allowed the Art Curation team to make an excellent start in preparing the Irene Finch collection of Japanese porcelain to present to audiences. In Year 1 of the two-year project, they were 8 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** able to recruit Amy Raphael with degrees in Japanese and History of Art/Archaeology of East Asia and she has set to work on bringing the collection to light. So far Amy has: - Catalogued 385 porcelain objects researching dating, motifs etc. s with over 900 high - _in Friends of Bristol Museums, Galleries & Archives Newsletter_ . - _Bristol Museums Blog_ . 14 June 2021 https://www.bristolmuseums.org.uk/blog/japaneseporcelain-at-bristol-museum-art-gallery/ - Given a talk to the Friends of the Bristol Museum to report on the progress of the project. Secured an Art Fund Jonathan Ruffer Curatorial Research Grant of £4,209 to fund study visits to other UK museums that care for Japanese ceramics donated by Irene Finch, and to fund a research trip to Japan to visit kiln sites and the region where the porcelain was produced and Japanese ceramics, these visits will enable her to make excellent connections for Bristol Museum & Art Gallery for future partnerships. - Created a small display of blue and white dishes from the Irene Finch collection to - Corresponded with ceramic experts in Japan and across England to introduce the project. Worked on a proposal for a future Japanese porcelain exhibition. The full impact of the donation to the wider community will be felt towards the end of the project when - person and digital audiences benefit from having an expert in Japanese art and culture on the staff e.g. talks and blogs on porcelain, netsuke talks and articles, twitter campaign for the Tokyo Olympics, blogs, talks. As the project curator contacts museums across the UK and internationally through her research, she helps to raise the profile of Bristol Museums, the Japanese collections and Bristol as a whole, laying the groundwork for future partnerships. The Irene Finch collection is being made accessible to researchers worldwide. Local audiences in Bristol benefit not only from new displays, research grant that she has gained to augment the grant from a member of Patron Circle. The trustees look forward to seeing how the project develops throughout 2022. ## **Cranes Restoration Appeal** Last year, BMDT ran its first ever digital-only fundraising campaign. This was to support the conservation of the four electric cranes outside M Shed. Time had taken its toll on them and they were in urgent need of repair, including a full repaint. The work on the cranes was able to take place in April - July 2021, following various delays due to the ongoing Covid-19 pandemic and associated lockdowns. Following a Bristol City Council procurement process Ian Williams Ltd was appointed to carry out the work. The teams from Ian Williams Ltd were onsite from 29 April. Over the next few weeks, the cranes were jet washed, and various seagull deposits removed by Rentokil. The team then worked their way down from top to bottom on each crane. They found that the areas of corrosion on the top half were relatively minor and were scraped with hand tools and wire brushes. The large and major areas of corrosion were from the turning wheels down, where they employed needle guns and a soft wash to remove these along with the old lead paint. Once the cranes were clean, a layer of primer went on before the paint was applied. This work will ensure that the cranes are safe from corrosion for at least the next 15 years. 9 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** aim will be to offer more open days so that the public can appreciate these impressive industrial The public campaign raised £6,326.87 (including gift aid) in total, with £3,597.50 having been raised in the financial year ended September 2020. The Trust also received, in the previous period, £4,500 in donations from organisations in the region and would like to thank Stowe Family Law, the Bristol Port Company and the Bristol Industrial Archaeology Society for their donations. During the current period, the trust secured £10,000 from The Pilgrim Trust. In addition, the trust provided £1724.80 in match funding, which allowed BC&CI to secure £17,248 from the Enovert Trust to support the project. The trustees would like to thank all our donors who helped make this project possible. The trustees would also like to recognise that this project was only possible due to the tireless work of Andy King, Senior Curator, History. Andy was due to be project manager on the project. Sadly, Andy had to take early retirement in March 2021 due to ill health and passed away in July 2021. The ## **FUNDRAISING INITIATIVES** ## **Visitor Giving** The Trust continues to support the work of the Development Team through the Visitor Giving Project, which aims to promote new methods of generating donations, using a proactive approach. During the financial year, **£3,006** (compared to **£824.40** in the previous period) has been spent on procuring, running and marketing contactless donation devices in order to facilitate socially distanced donations from visitors. These were installed at Bristol Museum & Art Gallery and M Shed following their reopening in September 2020. ## **FINANCIAL REVIEW** ## **a. OVERALL REVIEW** ## Income Income received in the period ending 30 September 2021 amounted to **£128,404** , of which **£46,212** was restricted for specific projects and **£82,192** unrestricted income. Income from corporate sponsorship and corporate membership was received by Bristol City Council through Culture and Creative Industries. The trustees gratefully acknowledge the support of all its donors. ## Expenditure The bulk of the expenditure was the transfer of **£172,126** in funds to Bristol City Council, relating to a range of grants and donations secured in current and previous years to support the work carried out by the Culture and Creative Industries portfolio of museums. The transfer of a grant takes place once the acquisition or project to which it relates has commenced and is often transferred in instalments to coincide with the specific project timeline and expenditure budget. Major operating expenses incurred by the Development Team, including salaries and office accommodation, are underwritten by Bristol City Council through Culture and Creative Industries. 10 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** ## Financial management Day to day management and administrative support of the Trust, including overseeing the operations s, was provided by an independent bookkeeper working alongside the ## **b. RESERVES POLICY** The Trust has a policy of maintaining unrestricted free reserves not less than £50,000, in order to fulfil its governance requirements and meet its commitments for grant-making according to its policy (see below). During the financial year the Trust has increased its level of grant-making compared to the previous financial year, when the ability to make grants was restricted due to museum closures. However unrestricted reserves remain higher than in previous years, to enable the Trust to make funds available to Bristol Museums and Archives for possible future key developments, including Estate and Development Fund by Bristol City Council be successful. At the year end the Trust held designated funds of **£162,993** . The remaining unrestricted funds of **£95,528** will be utilised by the Trust for grant making as opportunities arise when museums and activities resume fully. Restricted funds accumulate for specific projects until the fundraising target has been reached and then the money is paid out for the delivery of the project. Restricted funds also accumulate where grants are received for a specific project and delivery of that project can take time to conclude. As a result, the Trust may hold restricted funds for a couple of years without incurring expenditure. The level of restricted funds at the year end was **£83,471** . ## **c. GRANT MAKING POLICY** In line with its objectives, the Trust makes grants from its unrestricted i museums. The Trust also supports fundraising and other initiatives that foster greater financial Decisions on grant-making are made at funding requests from the relevant Culture and Creative Industries staff member. All requests must be in line with the Culture and Creative Industries business plan. For larger projects, the Tru funders and donations from private individuals. ## **d. MATERIAL INVESTMENTS POLICY** The Trust does not hold funds for a significant period of time and therefore there is no scope for ## **PLANS FOR THE FUTURE** The Trust will continue to pursue its objectives of supporting for the benefit of the public the development of world-class museums and archives in Bristol. The trustees believe that the enjoyment and should be freely accessible to all. 11 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **REPORT** ## **YEAR ENDED 30 SEPTEMBER 2021** The growing income from the Trust will enable it to continue to pursue grant funding opportunities with disadvantaged areas, care for collections and deliver pioneering exhibitions which inspire visitors. However, trustees continue to monitor the impact of the Covid-19 pandemic on its ability to carry out its charitable objectives and look at innovative ways to deliver its strategic aims, at least in the short term. The trustees (who are also directors of Bristol Museums Development Trust for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the strategic report and directors' report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: _The Financial Reporting' Standard applicable in the UK and Republic of Ireland_ (United Kingdom Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; · state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and · prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the trustees on 10 March 2022 and signed on their behalf by: **Nigel Hardy Fiona Hallworth** **Trustee Trustee** 12 **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **Bristol Museums Development Trust** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2021. ## **Responsibilities and basis of report** are responsible for the preparation of the accounts in accordance with the requirements of the Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Joshua Kingston BSc (Hons) ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: 13 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 30 SEPTEMBER 2021** |**Unrestricted**
**Funds**
**Note**
**£**
**Income from**
Donations & grants
**2**
82,192
**Total income**
82,192
**Expenditure on**
Charitable activities
**3**
98,551
Raising funds
7,274
**Total expenditure**
105,825
**Net income/(expenditure)**
**4**
(23,633)
**and net movement in funds**
**Total funds at 1 October 2020**
**9**
282,154
**Total funds at 30 September 2021**
**9**
258,521|**Restricted**
**Funds**
**£**
46,212
46,212
83,696
1,725
85,421
(39,209)
122,680
83,471|**Total**
**2021**
**£**
128,404
128,404
182,247
8,999
191,246
(62,842)
404,834
341,992|Total
2020
£
208,632
208,632
70,980
8,554
79,534
129,098
275,736
404,834| |---|---|---|---| The Charity has no recognised gains or losses other than the results for the period as set out above. All of the activities of the Charity are classed as continuing The comparative Statement of Financial Activities is set out in note 6. **The notes on pages 16 to 24 form part of these financial statements** 14 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **BALANCE SHEET** ## **AT 30 SEPTEMBER 2021** Company number: 06685688 |**Note**
**Current assets**
Debtors
**7**
Cash at bank|**2021**
2020
**£**
£
11,112
40,395
410,426
391,955| |---|---| |**Creditors : Amounts falling**
**due within one year**
**8**|421,538
432,350
(79,546)
(27,516)| |Net current assets
**Total assets less current liabilities**|341,992
404,834
341,992
404,834| |**Net assets**|341,992
404,834| |**Funds**
Restricted funds
**10**
Unrestricted funds
**10**|83,471
122,680
258,521
282,154| ||341,992
404,834| For the year ending 30 September 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provisions applicable to companies subject to the These financial statements were approved by the Trustees on 10 March 2022 and are signed on their behalf by: **Nigel Hardy Trustee Company number: 06685688** **Fiona Hallworth Trustee** **The notes on pages 16 to 24 form part of these financial statements** 15 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **1 Accounting policies** - a) The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019. The charity is a public benefit entity as defined under FRS102. The Trustees consider that the charity is a going concern with no material uncertainties affecting it. In making this judgement the Trustees have considered the wider economic conditions surrounding the charity, the charity's reserves and a sufficient time scale form the signing date of these financial statements. - b) Income from donations are included when these are receivable, except as follows: i) When donors specify that donations given to the Charity must be used in future accounting periods, the income is deferred until those periods. ii) When donors impose pre-conditions which have to be fulfilled before the Charity becomes entitled to such income, the income is deferred until the pre-condition have been met. - c) Expenditure is recognised in the period in which it is incurred. Most expenditure is directly attributable to charitable activities and has been included in that cost category. Support costs have been included entirely under the heading Charitable Activities. - d) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity. These are included within Charitable Activities. - e) Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. - f) Unrestricted funds can be used in accordance with the charitable objects of the charity at the discretion of the trustees. - g) Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. - h) Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due. - i) Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. - j) Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 16 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **2 Donations** |Donations and legacies
Gift Aid
Grants
Patron Circle
**Prior year comparatives**
Donations
Gift Aid
Grants
Patron Circle
**Charitable activities (expenditure)**
Grants made
Bristol Culture
Support costs
Professional fees
Bank charges
General
Governance costs
Independent Examiner's fee|**Unrestricted**
**Funds**
**£**
66,236
4,706
-
11,250
82,192
**Unrestricted**
**Funds**
**£**
82,478
6,327
-
10,833
99,638
**Unrestricted**
**Funds**
**£**
88,430
1,974
2,205
3,890
2,052
98,551|**Restricted**
**Funds**
**£**
33,336
2,876
10,000
-
46,212
**Restricted**
**Funds**
**£**
96,711
1,693
10,590
-
108,994
**Restricted**
**Funds**
**£**
83,696
-
-
-
-
83,696|**Total**
**2021**
**£**
99,572
7,582
10,000
11,250
128,404
**Total**
**2020**
**£**
179,189
8,020
10,590
10,833
208,632
**Total**
**2021**
**£**
172,126
1,974
2,205
3,890
2,052
182,247| |---|---|---|---| - **3 Charitable activities (expenditure)** **17** ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **3 Charitable activities (expenditure) (Continued)** ## **Prior year comparatives** |Grants made
Bristol Culture
Support costs
Professional fees
Bank charges
General
Governance costs
Independent Examiner's fee
**4**
**Net income for the year**
This is stated after charging:
Independent examiner's fees :
Independent examination|**Unrestricted**
**Funds**
**£**
39,515
3,834
2,067
4,906
2,016
52,338|**Restricted**
**Funds**
**£**
18,642
-
-
-
-
18,642
**2021**
**£**
2,052|**Total**
**2020**
**£**
58,157
3,834
2,067
4,906
2,016
70,980
2020
£
2,016| |---|---|---|---| There were no staff employed by the charity in the current or previous year. The key management personnel are considered to be the trustees. The aggregate employment benefits paid to key management personnel during the year were £nil. (2020: £nil). ## **5 Taxation** The Charity is exempt from corporation tax on its charitable activities. 18 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **6 Comparative Statement of Financial Activities** |**Income from**
Donations & grants
**Total income**
**Expenditure on**
Charitable activities
Raising funds
**Total expenditure**
**Net income/(expenditure)**
**and net movement in funds**
**Total funds at 1 October 2019**
**Total funds at 30 September 2020**
**Debtors**
Gift Aid
Accrued income
Other debtors|**Unrestricted**
**Funds**
**£**
99,638
99,638
52,338
8,554
60,892
38,746
243,408
282,154|**Restricted**
**Funds**
**£**
108,994
108,994
18,642
-
18,642
90,352
32,328
122,680
**2021**
**£**
476
7,636
3,000
11,112|**Total**
**2020**
**£**
208,632
208,632
70,980
8,554
79,534
129,098
275,736
404,834
2020
£
895
39,500
-
40,395| |---|---|---|---| - **7 Debtors** During the year, Bristol City Council acted as agents of Bristol Museums Development Trust in the collection of donations from the public to Bristol Museums Development Trust. Money collected by Bristol City Council during the period, which has not been transferred to Bristol Museum Development Trust at year end is recognised as income in the period and included as a debtor in the Balance Sheet. ## **8 Creditors: amounts falling due within one year** |Accruals and deferred income
Other creditors|**2021**
**£**
76,962
2,584
79,546|2020
£
26,896
620
27,516| |---|---|---| 19 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** **----- Start of picture text -----**
9 Movement in funds
At At
1 Oct Income Expenditure Transfers 30 Sep
2020 2021
£ £ £ £ £
Restricted funds
Black Lives Matter Exhibition 625 - - - 625
Bomford Trust 5,268 - - - 5,268
Bristol Museum & Art gallery
- - -
Refurbishment Project 2,825 2,825
- -
Crane Restoration Project 8,098 12,729 (20,827)
Egypt Gallery 785 - - - 785
Industrial & Maritime Collections 1,278 3,355 - - 4,633
- -
Japanese Porcelain 79,000 (31,144) 47,856
- - -
Natural History Butterfly Collection 1,063 1,063
Van Neste Creative Cafes 5,322 - (3,308) - 2,014
Visual Art Collections 19,479 14,264 (16,986) - 16,757
British Empire & Commonwealth
Collection - 13,156 (13,156) - -
T Merriman - 1,645 - - 1,645
Total Restricted funds 122,680 46,212 (85,421) - 83,471
Unrestricted funds
Designated funds:
- - -
Arts Funds Moving Image Fund 2,640 2,640
Blaise Museum 7,220 - - - 7,220
- - -
Capital Development 50,000 50,000
Collections fund 1,200 - - (1,200) -
Creative Cafes 10,000 - - (10,000) -
- - -
Dehumidifier Equipment (3,000) 3,000
Fundraising Budget 1,382 - (1,347) - 35
Participation Community Fund 200 - (200) -
- -
Visitor Giving Project 6,104 (3,006) 3,098
- - -
Jade Display Case (14,525) 14,525
- - -
Volunteer Expenses (15,611) 15,611
Art shed - - (4,500) 4,500 -
British Empire & Commonwealth - - -
(31,794) 31,794
Collection
Improving Gallery Interactive - - -
(13,000) 13,000
Technology
Bristol Photo Festival Acquisitions - - -
(6,000) 6,000
Museum Estates and Development
- - -
100,000 100,000
Fund
-
Designated funds 78,746 (92,783) 177,030 162,993
General fund 203,408 82,192 (13,042) (177,030) 95,528
Total Unrestricted funds 282,154 82,192 (105,825) - 258,521
Total funds 404,834 128,404 (191,246) - 341,992
**----- End of picture text -----**
20 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** **----- Start of picture text -----**
9 Movement in funds (continued)
Prior year comparative At At
1 Oct Income Expenditure Transfers 30 Sep
2019 2020
£ £ £ £ £
Restricted funds
Black Lives Matter Exhibition - 625 - - 625
Bomford Trust - 5268 - - 5,268
Bristol Museum & Art gallery
- - -
Refurbishment Project 2,825 2,825
- - -
Crane Restoration Project 8,098 8,098
Egypt Gallery - 785 - - 785
Industrial & Maritime Collections 4,362 646 (3,730) - 1,278
- - -
Japanese Porcelain 79,000 79,000
- - -
Learning Team 2,000 (2,000)
Natural Sciences Collections 22 - (22) - -
Van Neste Creative Cafes - 5,322 - 5,322
Visual Art Collections 23,119 9,250 (12,890) 19,479
Total Restricted funds 32,328 108,994 (18,642) - 122,680
Unrestricted funds
Designated funds:
- - -
Arts Funds Moving Image Fund 2,640 2,640
Blaise Museum 14,900 - (7,680) - 7,220
- - -
Capital Development 50,000 50,000
Collections fund - 1,200 - - 1,200
Creative Cafes 10,000 - - - 10,000
- - -
Dehumidifier Equipment (14,500) 14,500
- -
Fundraising Budget 19,167 (17,785) 1,382
Netsuke Collection - - (7,380) 7,380 -
Participation Community Fund - 200 - - 200
Transatlantic Slave Trade
- - -
Workshops Fund (3,000) 3,000
- -
Visitor Giving Project 6,928 (824) 6,104
Designated funds 103,635 1,400 (51,169) 24,880 78,746
General fund 139,773 99,638 (11,123) (24,880) 203,408
Total Unrestricted funds 243,408 101,038 (62,292) - 282,154
Total funds 275,736 210,032 (80,934) - 404,834
**----- End of picture text -----**
21 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **9 Movement in funds (continued)** ## **Fund Descriptions - Restricted** **Black Lives Matter Exhibition/Education** relates to monies donated for either an exhibition or education programme around the subject of Black Lives Matter or Bristol's Black History. **Bomford Trust** represents monies donated by Bristol Bomford Bequest Trust for the purchase or collection management of the Bomford Collection of Ancient Glass **.** **Bristol Museum & Art Gallery Refurbishment Projects** represents monies donated for the art galleries. **Crane Restoration Project** to carry out conservation work on M Shed's cranes. **Egypt Gallery** represents monies donated for the Egypt Gallery. **Industrial & Maritime Collections** represents monies received as donations for this collection, particularly but not restricted to the Working Exhibits (the trains, cranes and boats in the collection situated on the Harbourside outside M Shed) and support for the annual Docks Heritage Weekend. **Japanese Porcelain Fund** represents monies received to fund a curatorial post for the specific purpose of cataloguing and digitising the Finch collection of Japanese Porcelain. **Learning Team** represents monies received for developing new workshops for schools, offering financial support to enable schools that may not have visited a Bristol Museums' site for some time to take up one of the workshops. **Natural Sciences Collections** represents monies received towards the acquisition, conservation, display, research into and stimulation of debate regarding the specimens and other material cared for by the Natural Sciences curators. **Van Neste** represents funding received from the Van Neste Foundation to support Bristol Museums' dementia-friendly Creative Cafes. **Visual Arts Collections** represents funding for the acquisition, conservation, display, research into and the works of art and artefacts cared for by the Visual Art curators. **British Empire & Commonwealth Collection** represents a legacy donation to be used to support the British Empire and Commonwealth Collection. **T Merriman** represents donations made in memory of Tony Merriman. **Natural History Butterfly Collection** represents monies donated to support the cataloguing and digitisation of butterfly collection held at Bristol Museum & Art Gallery. 22 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **9 Movement in funds (continued)** ## **Fund Descriptions - Unrestricted** **Arts Funds Moving Image Fund** is a designated fund and represents funds granted by trustees to the Visual Arts team to acquire artists' film and video. **Blaise Museum** is a designated fund and represents a grant from trustees to develop Blaise Castle House Museum, in this period towards the laboratory space for community engagement. **Capital Development** refers to funds designated for the redevelopment of Bristol Museums. **Collections Fund** is a designated fund to support the work of the conservation team to care for collections. **Creative Cafes** is a designated fund to support the work of the Bristol Museums Dementia Friendly Creative Cafes project, enabling people living with dementia and their carers to attend arts workshops at Bristol Museum & Art Gallery. **Dehumidifier Equipment** is a designated fund which will be used to purchase and install dehumidifier equipment in strong rooms 3 & 4 at Bristol Archives. **Fundraising Budget** is a designated fund to support the work of the Development Team. **Learning Fund** is a designated fund to support the work of the Education Team. **Netsuke Collection** is a designated fund to support the upcoming exhibition Netsuke: Miniature masterpieces from Japan **Participation Community Fund** is a designated fund to support the work of the Participation and Community Engagement Team. **Transatlantic Slave Trade Workshops Fund** is a designated fund which will support the provision of free transatlantic slave trade workshops to schools in the local area. **Visitor Giving Project** is a designated fund to support the individual giving strategy to encourage visitors to donate across the venues. **Jade Display Case** is a designated fund to support the provision of an exhibition case at Bristol Museum & Art Gallery. **Volunteer Expenses** is a designated fund which will be used to trial the reimbursement of travel expenses for volunteers at Bristol Museums & Archives. **Art Shed** is a designated fund to support the delivery of the Art shed programme. **Improving Gallery Interactive Technology** is a designated fund to support improvements and innovations to technology across the museum sites. **Bristol Photo Festival Acquisitions** is a designated fund for the acquisition of photos from the Bristol Photo Festival. **Museum Estate and Development Fund** is a designated fund to provide match funding for the Bristol City Council as part of their application to the Arts Council England for funding towards infrastructure repairs, maintenance and sustainability improvements at Bristol Museum and Art Gallery. 23 ## **BRISTOL MUSEUMS DEVELOPMENT TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2021** ## **10 Analysis of net assets between funds** |**Restricted funds**
**Unrestricted funds**
Designated funds
General funds
**Prior year comparative**
**Restricted funds**
**Unrestricted funds**
Designated funds
General funds|**Other**
**Net assets**
**£**
83,471
162,993
95,528
341,992
**Other**
**Net assets**
**£**
122,680
78,746
203,408
404,834|**Total**
**2021**
**£**
83,471
162,993
95,528
341,992
**Total**
**2020**
**£**
122,680
78,746
203,408
404,834| |---|---|---| ## **11 Company limited by guarantee** The Company is limited by guarantee and as such has no issued share capital. In the event of the Company being wound up the liability of the members is limited to £1 each. ## **12 Related party transactions** There were no related party transactions in the year. 24