2022-05-31-accounts

Financial Statements	Financial Statements	year ended 31"May 2022
CONTENTS			PAGE
Trustees Annual Report
independent Examiner's	Report
Statement ofFinancial	activities
Balance Sheet
Notes to the Financial	Statements

	Note	Unrestricted	Restricted	Year to	Yearto
		fundsf	funds f	31.5.22 f	31.5.21 6
INCOME FROM:
Donations and legacies	4	54,321	1,659	55,980	130,402
Charitable activities	5	129,722		129,722	45,411
TOTAL INCOME		184,043	1,659	185,702	175,813
EXPENDITURE ON:
Charitable activities	6	151,529	5,836	157,365	120,208
Governance	7	3,480	63	3,543	2,931
TOTAL EXPENDITURE		155,009	5,899	160,908	123,139
Net income I (outgoing) resources for the year		29,034	(4,240)	24,794	52,674
Revaluation of exhibits	16	20,110		20,110
Net movement in funds		49,144	(4,240)	44,904	52,674
Reconciliation offunds:
Total funds at 1 June 2021		239,199	4,240	243,439	190,765
Total funds at 31 May 2022	17	288,343		288,343	243,439

			Note	2022	2021
Fixed Assets
Tangible Assets			10	179,588	143,748
Current Assets
Stocks			12	5,086	4,968
Debtors			13	13,928	10,831
Cash at bank snd in hand				135,233	132,200
Total Current Assets				154,247	147,999
Creditors; amounts one year	falling	due within	14	21,881	23,808
Net Current Assets				132,366	124,191
Total Assets less Current		Liabilities		311,954	267,939
Creditors; amounts more than one year	falling	due after	15	23,611	24,500
Nst Assets				288,343	243,439
Charity Funds
Restricted income funds			16		4,240
Unrestricted income	funds			170,268	141,234
Revaluation reserve				118,075	97,965
Total Unrestricted funds				288,343	239,199
Total Charity funds				288,343	243,439

						Unrestricted	Restricted	Year to	Year to
						funds	funds	31.5.2022	31.5.21
						6	E	f	6
4	Donations	and legacies
	Donations					40,044		40,044	26,977
	Gift Aid					6,477		6,477	2,456
	National Lottery Heritage			Funds Grants			1,096	1,096	41,290
	Local Council		Covid support		Grants	6,500		6,500	49,851
	Audience Development			Grant			500	500	4,500
	Government		Grant for BBLInterest				63	63	688
	Subscriptlons					1,300		1,300	4,640
						54,321	1,659	55,980	130,402
						Unrestricted	Restricted	Year to	Year to
						funds	funds	31.5.2022	31.5.2021
						f	F	6	6
5	Charitable	activities
	Museum entry fees					81,538		81,538	21,248
	Shop sales					27,410		27,410	9,624
	Events and	activities income				9,668		9,668	2,445
	Other trading		income			11,106		11,106	10,094
	Profit on sale		offixed asset						2,000
						129,722		129,722	45,411

			Unrestricted	Restricted	Year to	Year to
			funds	funds f	31.5.22 f	31.5.21 f
6.	Charitable activities
	Advertising & promotion		1,606	2,086	3,692
	Cleaning expenses		510		51p	572
	Cost ofGoods sold		12,804		12,804	3,400
	Credit card charges		2,302		2 3p2	1,163
	Depreciation		2,056		2,056	2,086
	Dues &Subscriptions				354	365
	Exhibit Maintenance	8 Purchase	769		769	796
	Insurances		8,522		8,522	7,992
	ITExpenses		1,495		1,495	2,303
	Light & Heat		9,957		9,957	5,567
	Health &Safety		1,708		1,708	7pp
	Office expenses		1,996		1,996	2,933
	Rates 8 Water		3,841		3,841	(1251
	Rent &service charges		91,484		91,484	91,682
	Repairs and mamtenance		1,896		1,896	210
	Transport costs		9,643		9,643
	Miscellaneous		586	3,750	4,336
			151,529	5,836	157365	120208
			Unrestricted	Restricted	Year to	Year to
			funds f	funds	31.5.22 f	31.5.21 f
	Governance costs
	Accountancy fees		2,700		2,700	2,220
	Bank Service charge		112		112	10
	Companies House		13		13	13
	Interest		655	63	718	688
			3,480	63	3 543	2,931

	Exhibits	Office	Fixtures	Total
		equipment	and fittings
Cost or valuation;	124,969	12,209	12,382	149,560
As at 1 June 2021
Additions	19,500	1,060	726	21,286
Disposals	(3,500)			(3,500)
Revaluation	20,110			20,110
As at 31 May 2022	161,079	13,269	13,108	187,456
Depreciation; As at 1 June 2021		1,956	3,856	5,812

Charge for the year		1,131	925	2,056
As at 31 May 2022		3,087	4,781	7,868
Net book value
At 31 May 2022	161,079	10,182	8,327	179,588
At 1 June 2021	124,969	10,253	8,526	143,748

					Yearto	Year to
	Valuation	of Exhibits			31.5.22	31.5.21
					E
	The assets were last valued			in 2022 by
	the Charity's		Project Director	and
	Technical	Director based on		market
	value.				161079	124969
12	Stock
					Year to	Yearto
					31.5.22	31.5.21
					f	E
	Goods for	resale			5,086	4,968
					5,086	4,968
					Year to	Year to
13	Debtors				31.5.22 E	31.5.21
	Accounts	receivable			470	3,031
	Prepayments				13,458	7,800
					13,928	10,831

			Yearto	Yearto
			31.5.22 f	31.5.21 E
14	Creditors; Amounts	falling due within one year
	Trade creditors		2,050	810
	Other creditors		1,148	2,148
	Secured loans		15,350	15,350
	Unsecured loans		3,333	5,500
			21,881	23,808

	Sqn Ldr J Sharpe	Sqn Ldr J Sharpe				12,200
	Mr & Mrs R Fulton					3,150
						15,350
					Yearto	Year to
					31.5.22	31.5.21
15	Creditors;	Amounts	falling due after more than	1 year
	Unsecured	loans			23,611	24,500

	Notes to the Financial	Notes to the Financial	Statements year ended 31	Statements year ended 31	Statements year ended 31	May 2022 (continued)	May 2022 (continued)	May 2022 (continued)
				At 1June	Incoming		Outgoing	Revaluation	At 31 May
				2021	Resources		Expenses		2022
16	Net Movement In funds
	Unrestricted funds
	Restricted funds
	Cultural Recovery Fund for			990	1,096		(2,086)
	Heritage 2
	South West museums	development		3,250		500	(3,750)
	fund audience development		Grant
	Loan Interest paid by	Government

Analysis	ofthe net assets by fund
		Unrestricted	Restricted	Total Funds	Total
		generalfunds	Funds	2022	Funds
					2021
		6	6	6
Tangible Assets		179,588		179,588	143,748
Current Assets;
Stocks		5,086		5,086	4,968
Debtors		13,928		13,928	10,831
Cash at bank and in hand		135,233		135,233	132,200
		154,247		154,247	147,999
Creditors:
Amounts	falling due within one year	(21,881)		(21,881)	(23,808)

Net current assets		~12 66
Creditors amounts	falling due after one year	23 611	23611	24600
Net Assets			2BLK
Fund Balances		28883344