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2023-12-31-accounts

Company number 07492531

ARUNDEL MUSEUM SOCIETY

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

ARUNDEL MUSEUM SOCIETY

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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 2023. 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: DT Shilston – Chairman M Webb – Secretary M B J Heathcote – Treasurer C Betts S Evans J Mitchell appointed 26 April 2023 J Morris appointed 26 April 2023 R Lovell appointed 6 July 2023 P E Carder MBE - deceased 24 January 2023

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.

Page 1

ARUNDEL MUSEUM SOCIETY DIRECTORS' AND TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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:

  1. the past, present and future of Arundel and surrounding district

  2. its geological and archaeological origins

  3. its political, religious and social history, and

  4. 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.

In 2023 Arundel Museum held three major exhibitions:

  1. Ralph Ellis - Inn signs of Arundel

  2. Arundel Cathedral 1873 to 2023 - 150 year celebration

  3. Rebuilding of Arundel Castle 1870 to 1900

Fundraising activities

We are grateful to all those people and institutions who gave money and help-in-kind to the Museum during 2023 to assist with the ongoing activities of the museum and its projects, including grants from the National Heritage Lottery Fund, Garfield Weston, Friends of Arundel Cathedral, Arundel Town Council, and Arundel Castle Trust.

Subsidiary

The subsidiary, Arundel Museum (Trading) Limited, had an income of £43,730. There was a surplus of £14,063, of which 100% was donated to Arundel Museum Society.

Consolidation

Arundel Museum Society's general activities made a loss of £47,465 (or, a smaller loss of £8,983 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.

Page 2

ARUNDEL MUSEUM SOCIETY DIRECTORS' AND TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Grants policy

Any grants received for ongoing projects will have been included as Incoming Resources on the Statement of Financial Activities over the years they were intended for, as is related expenditure. 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.

We will hold three exhibitions during 2024:

  1. Continuing the exhibition: Rebuilding of Arundel Castle 1870 to 1900

  2. Arundel in the ‘60’s

  3. The Great Rebellion – Civil War in Sussex

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: 10 May 2024

Page 3

ARUNDEL MUSEUM SOCIETY EXAMINERS REPORT

I report on the accounts of the charity for the year ended 31 December 2023, 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:

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 10 May 2024

Page 4

ARUNDEL MUSEUM SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

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 2022
Total funds carried forward 2023		 Unrestricted
Funds
55,159
-
3,772
17,906
-
76,837
-
91,556
3,341
1,302
96,199
-19,362
-19,362
154,520
135,158		 Restricted
Funds
14,500
-
-
-
-
14,500
-
4,130
-
38,474
42,604
-28,104
-28,104
1,024,644
996,540		 Total Funds
2023
69,659
-
3,772
17,906
-
91,337
-
95,686
3,340
39,776
138,802
-47,465
-47,465
1,179,164
1,131,698		 Total Funds
2022
61,456
-
178
17,906
-
79,540
105
74,739
2,246
38,482
115,572
-36,032
-36,032
1,228,949
1,179,164

Page 5

ARUNDEL MUSEUM SOCIETY

BALANCE SHEET AS AT 31 DECEMBER 2023

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		 2023
1,012,120
100
1,012,220
19,078
111,795
130,873
-11,395
119,478
1,131,698
996,540
135,158
1,131,698		 2022
1,049,675
100
1,049,775
22,988
105,507
128,495
-1,689
130,184
1,179,164
1,025,439
154,520
1,179,164

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 10 May 2024

Page 6

ARUNDEL MUSEUM SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Page 7

ARUNDEL MUSEUM SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
-
-
3,772
1,302		 Restricted
Funds
-
-
-
38,474		 Total Funds
Total Funds
2023
2022
-
-
-
-
3,772
922
39,776
38,482

5. TRUSTEES' REMUNERATION AND BENEFITS

There was no trustee remuneration in the year ended 31 December 2023

There were no trustee expenses paid for the year ended 31 December 2023

Page 8

ARUNDEL MUSEUM SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. RESOURCES EXPENDED - CHARITABLE ACTIVITIES

Unrestricted
Activities undertaken directly
Curatorial and educational
-
Exhibitions
1,032
Publicity
4,788
Services for members
5,000
Administration
55,742
Property costs
28,235
Grants
100
91,556
7.
RESOURCES EXPENDED - GOVERNANCE COSTS
AGM / Board meetings
-
Sundry expenses
-
Accountancy fees
3,341
3,341
8.
RESOURCES EXPENDED - OTHER
Long leasehold amortisation
-
Depreciation - Fixtures
-
Depreciation - Office equipment
1,302
Surplus/loss on disposals
-
1,302
96,199		 Restricted
-
4,130
-
-
-
-
-
4,130
-
-
-
-
22,847
15,627
-
-
38,474
42,604		 Total Funds
2023
-
5,162
4,788
5,000
55,742
28,235
100
95,686
-
-
3,341
3,341
22,847
15,627
1,302
-
39,776
138,803		 Total Funds
2022
500
407
3,761
5,000
51,108
16,209
-
74,739
-
-
2,995
2,995
22,847
14,333
1,302
-
38,482
116,216

Page 9

ARUNDEL MUSEUM SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

10.
DEBTORS
Amounts owed by Group undertakings
Gift Aid tax recoverable
Friends of Arundel Museum
Prepayments
Tax rebates
11.
TANGIBLE FIXED ASSETS
Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
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
217,456
22,847
240,303
902,063
924,910
(Trading) Ltd		 Furniture
fixtures &
fittings
349,464
8,015
-
357,479
236,097
15,627
251,724
105,755
122,161		 2023
6,148
1,075
2,843
2,590
6,422
19,078
Office
Equipment
20,133
3,000
-
23,133
17,529
1,302
18,831
4,302
2,604
2023
100
2023
-
11,394
11,394		 2022
10,691
880
8,170
3,251
8,170
22,992
Total
1,511,963
11,015
-
1,522,978
471,082
39,776
510,858
1,012,120
1,049,675
2022
100
2022
-
1,689
1,689

Page 10

ARUNDEL MUSEUM SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. RESTRICTED INCOME FUNDS

Building Fund
Songs of the Civil War		 Funds
brought
forward
1,024,644
-
1,024,644		 Incoming
resources
-
14,500
14,500		 Outgoing
resources
-38,474
-4,130
-42,604		 Transfers
between
funds
-
-
-		 Funds
carried
forward
986,170
10,370
996,540

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted funds
Restricted Funds
Building Fund
Songs of the Civil War
Restricted Funds total		 Tangible
Fixed assets
25,950
986,170
986,170
1,012,120		 Investments
100
-
-
100		 Net
current
assets
109,108
-
10,370
10,370
119,478		 Total
135,158
986,170
10,370
996,540
1,131,698

Page 11