Company number 07492531
ARUNDEL MUSEUM SOCIETY
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
ARUNDEL MUSEUM SOCIETY
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| INDEX | |
|---|---|
| Page | |
| Trustees Annual Report | 1 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 |
ARUNDEL MUSEUM SOCIETY
DIRECTORS' AND TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities issued in July 2014.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity registration number 1140198
Company registration number 07492531, registered in England and Wales.
Registered office: The Arundel Museum, Mill Road, Arundel, West Sussex BN18 9PA
ROYAL PATRON
Her Royal Highness Princess Alexandra
PATRON
The Duke of Norfolk
TRUSTEES
The Trustees in office during the year were:
P E Carder MBE – Life President (deceased 24 January 2023)
DT Shilston – Chairman M Webb – Secretary M B J Heathcote – Treasurer C Betts S Evans
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the Memorandum and Articles of Association of Arundel Museum Society, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
As set out in the Articles of Association the trustees shall elect from their number such of them to act as officers of the charity being the chairman, deputy chairman, secretary and treasurer of the charity. At each subsequent annual general meeting one-third of the trustees or, if their number is not three or a multiple of three, the number nearest to one-third, must retire from office. If there is only one trustee he or she must retire. A retiring trustee may offer themselves for reelection.
The procedure for members to nominate potential trustees prior to the AGM are set out in the Memorandum & Articles of Association of the Arundel Museum Society.
New trustees undergo an orientation to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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ARUNDEL MUSEUM SOCIETY DIRECTORS' AND TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects are specifically restricted to the establishment, maintenance and improvement of a museum and heritage centre in the town of Arundel in the county of West Sussex, for the education of the inhabitants of and visitors to the town of Arundel and the surrounding area, and thereby promote interest in:
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the past, present and future of Arundel and surrounding district
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its geological and archaeological origins
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its political, religious and social history, and
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its agricultural, industrial and cultural development.
The trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The museum and the Arundel Visitors Information Point is operated under a lease by a 100% owned trading subsidiary Arundel Museum (Trading) Limited which employs a manager, and a part time deputy manager. The museum is otherwise manned by our unpaid volunteers and provides a much-needed service to both residents and visitors to Arundel.
In addition to our permanent exhibits in the museum’s gallery, we hold temporary exhibitions and arrange guided tours, children's activities and evening and lunchtime talks in the Jubilee Room.
Early in 2022 we held a most successful exhibition about the crashes near the town of two bomber aircraft during the Second World War. In June, an exhibition for the Jubilee of HM Queen Elizabeth II highlighted the Queen’s connections with Arundel, and later in the year there was an exhibition of Tom Lee’s photographs of the South Downs.
Fundraising activities
We are grateful to all those people and institutions who gave money and help-in-kind to the Museum during 2022, including grants from Arundel Town Council and Arundel Castle Trust to assist with our purchase of the InfoAktiv display screen.
Subsidiary
The subsidiary, Arundel Museum (Trading) Limited, had an income of £42,153. There was a surplus of £13,836, of which 100% was donated to Arundel Museum Society.
Consolidation
Arundel Museum Society's general activities made a loss of £36,032 (or, a surplus of £2,450 before a charge for depreciation). This included the donation from the Arundel Museum (Trading) Ltd above.
Reserves policy
The trustees, having regard to the cash flow requirements, have operated a policy of keeping surplus funds in an interest bearing deposit account and seek to achieve a rate on deposit which is comparable with other main banks.
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ARUNDEL MUSEUM SOCIETY DIRECTORS' AND TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Grants policy
Any grants received for ongoing projects will have been included as Incoming Resources on the Statement of Financial Activities in the years they were received, and the related expenditure for on-going projects is written off in the years incurred. Other expenditure which is of a capital nature has been treated as Fixed Assets and accordingly added to the Balance Sheet. In future years, the costs of these assets will be charged to the Statement of Financial Activities over their expected useful lives.
FUTURE DEVELOPMENT
The Museum and Collections Manager and her team are continuing to assess items for the collection with a view to rotating and refreshing the exhibits, notably our collection of palaeolithic flint hand-axes. Where appropriate, exhibits of a particular period or a collection of artefacts will be displayed in the Jubilee room and the museum’s foyer for limited time. During 2022, we purchased and installed a large InfoAktiv touch display screen in the museum’s foyer. It provides us with a new means of engaging visitors as they enter the museum and, we hope, encouraging them to buy tickets to our gallery with exhibits and further explanations of Arundel’s past.
We will hold three exhibitions during 2023: the first (which is open at the time of writing this report) is about Ralph Ellis, a nationally important commercial artist who lived and worked in Arundel; next will be an exhibition to celebrate Arundel Cathedral’s 150th anniversary; and finally (in October) there will be an exhibition describing the rebuilding of Arundel Cathedral in the late 19th century.
The report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed on behalf of the Board of Trustees
David Shilston (Director)
Approved by the Board of Trustees: 11 April 2023
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ARUNDEL MUSEUM SOCIETY EXAMINERS REPORT
I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 5 to 11.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
INDEPENDENT EXAMINER'S STATEMENT
I am qualified to undertake the examination by being a member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act: or
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the accounts did not accord with the accounting records: or
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the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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.
Elwyn Waugh Waugh & Co Chartered Accountants
51 High Street, Arundel, West Sussex BN18 9AJ
- 11 April 2023
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ARUNDEL MUSEUM SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Note INCOMING RESOURCES Incoming resources from generated funds Voluntary income Activities for generating funds 2 Investment income 3 Incoming resources from charitable activities Rent Other incoming resources Development costs Total incoming resources RESOURCES EXPENDED Costs of generating funds Charitable activities 6 Governance costs 7 Other resources expended 8 Total resources expended Net incoming resources before transfers Gross transfers between funds NET INCOME (EXPENDITURE) FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Unrestricted Funds 61,456 - 178 17,906 - 79,540 105 74,739 2,246 1,302 78,392 1,148 105 1,253 153,267 154,520 |
Restricted Funds - - - - - - - - 37,180 37,180 -37,180 -105 -37,285 1,062,724 1,025,439 |
Total Funds 2022 61,456 - 178 17,906 - 79,540 105 74,739 2,246 38,482 115,572 -36,032 - -36,032 1,215,991 1,179,959 |
Total Funds 2021 102,086 - 6 14,035 - 116,127 530 87,331 2,742 38,482 129,085 -12,958 - -12,958 1,228,949 1,215,991 |
|---|---|---|---|---|
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ARUNDEL MUSEUM SOCIETY
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note FIXED ASSETS Tangible assets 10 Investments 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand CREDITORS: amounts falling due within one year 13 NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY Restricted income funds 14 Unrestricted income funds TOTAL CHARITY FUNDS 15 |
2022 1,049,675 100 1,049,775 22,988 105,507 128,495 1,689 130,184 1,179,959 1,025,439 154,520 1,179,959 |
2021 1,080,657 100 1,080,757 15,868 122,389 138,257 -3,023 135,234 1,215,991 1,062,724 153,267 1,215,991 |
|---|---|---|
The accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Small Entities.
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
Signed on behalf of
the Board of Trustees
MBJ Heathcote Director
Approved by the Board of Trustees:
11 April 2023
Page 6
ARUNDEL MUSEUM SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. PRINCIPAL ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Preparation of consolidated financial statements
The financial statements contain information about Arundel Museum Society as an individual charity and do not contain consolidated financial information as the parent of a group. The charity has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small company.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Costs of generating funds represent the costs of fundraising expenditure. Charitable activities includes the curatorial costs of the exhibition, as well as the administration costs of the charity. Governance costs are those costs that meet the constitutional and statutory requirements of the charity. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:
Leasehold property 2% on cost Furniture fixtures & fittings 10% on net book value Office equipment 25% on net book value
No depreciation has been charged on freehold property, as in the trustees' opinion, the residual value is in excess of cost.
Fixed assets are stated at cost less accumulated depreciation. The cost of minor additions below £500 are not capitalised.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
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ARUNDEL MUSEUM SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. ACTIVITIES FOR GENERATING FUNDS
| Fundraising events 3. INVESTMENT INCOME Deposit account interest 4. NET INCOMING (OUTGOING) RESOURCES Net resources are stated after charging (crediting): Depreciation - owned assets |
Unrestricted Funds - - 178 1,302 |
Restricted Funds - - - 37,180 |
Total Funds Total Funds 2022 2021 - - - - 178 6 38,482 38,482 |
|---|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees remuneration in the year ended 31 December 2022
There were no trustee's expenses paid for the year ended 31 December 2022
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ARUNDEL MUSEUM SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. RESOURCES EXPENDED - CHARITABLE ACTIVITIES
| Unrestricted Activities undertaken directly Curatorial and educational 500 Exhibitions 407 Publicity 3,761 Services for members 5,000 Administration 51,108 Property costs 16,209 Grants - 74,739 7. RESOURCES EXPENDED - GOVERNANCE COSTS AGM / Board meetings - Sundry expenses - Accountancy fees 2,246 2,246 8. RESOURCES EXPENDED - OTHER Long leasehold amortisation - Depreciation - Fixtures - Depreciation - Office equipment 1,302 Surplus/loss on disposals - 1,302 |
Restricted - - - - - - - - - - - - 22,847 14,333 - - 37,180 |
Total Funds 2022 500 407 3,761 5,000 51,108 16,209 - 74,739 - - 2,246 2,246 22,847 14,333 1,302 - 38,482 |
Total Funds 2021 17,051 420 2,884 5,000 48,314 16,389 - 90,058 - - 2,742 2,742 22,847 15,627 1,434 - 39,908 |
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ARUNDEL MUSEUM SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 10. DEBTORS Amounts owed by Group undertakings Gift Aid tax recoverable Grants Prepayments Friends of Arundel Museum VAT 11. TANGIBLE FIXED ASSETS Cost At 1 January 2022 Additions Disposals At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 12. FIXED ASSET INVESTMENTS Shares in wholly owned subsidiary Arundel Museum 13. CREDITORS: amounts falling due within one year Trade creditors Other creditors |
Leasehold Property 1,142,366 - - 1,142,366 194,609 22,847 217,456 924,910 924,910 (Trading) Ltd |
Furniture fixtures & fittings 349,464 7,500 - 356,964 220,470 14,333 234,803 122,161 117,346 |
2022 10,691 880 3,251 8,170 - 22,992 Office Equipment 20,132 - 20,132 16,226 1,302 17,528 2,604 3,510 2022 100 2022 - 1,689 1,689 |
2021 3,713 206 3,293 8,626 280 16,118 Total 1,511,962 7,500 - 1,519,462 431,305 38,482 469,787 1,049,675 1,045,766 2021 100 2021 1,540 310 1,850 |
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ARUNDEL MUSEUM SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
14. RESTRICTED INCOME FUNDS
| Building Fund Heritage Lottery Fund |
Funds brought forward 1,062,619 105 1,062,724 |
Incoming resources - - - |
Outgoing resources -37,180 -105 -37,285 |
Transfers between funds - - - |
Funds carried forward 1,025,439 - 1,025,439 |
|---|---|---|---|---|---|
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds Building Fund Heritage Lottery Fund |
Tangible Fixed assets 24,236 1,025,439 1,049,675 |
Investments 100 - 100 |
Net current assets 130,184 - - 130,184 |
Total 154,520 1,025,439 - 1,179,959 |
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