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2023-03-31-accounts

Page
Reference and Administrative
Details ofthe Company,		 its Trustees and Advisers
Trustees'
Report		 2-22
Trustees'
Responsibilities
Statement		 23
Independent
Auditors'
Report on the Financial Statements		 24- 27
Consolidated
Statement ofFinancial Activities		 28
Consolidated
Balance Sheet		 29
Company
Balance Sheet		 30
Consolidated
Statement ofCash Flows		 31
Notes to the Financial Statements 32-58

Trustees Elizabeth
Fothergill, CBE,Chair		 Elizabeth
Fothergill, CBE,Chair		 Elizabeth
Fothergill, CBE,Chair
Roger Merchant
Caroline McComb, Vice Chair
Daisy Giuliano (resigned 25October 2022)
Linda Sullivan
Councillor
Lucy Care, nominated		 member from Derby City Council
Professor Keith McLay
Councillor Joanna West,
June 2023)		 nominated member from Derby City Council (resigned 30
Councillor
Robin
June 2023)		 Wood, nominated member from Derby City Council (resigned 30
Dr Kiron Griffin
Charlotte
Holmes
Andrew James Findlay
Amends
Elise (appointed		 24 January 2023)
Paul Hilsdon (appointed 24 January 2023)
Emily Lonsdale (appointed 25 October 2022)
Company registered
number 08036113
Charity registered
number 1149710
Registered office Museum
and Art		 Gallery
The Strand
Derby
Derbyshire
DE1 1BS
Patron Lord Cavendish, 12th Duke ofDevonshire
Independent auditors Dains Audit Limited
Statutory Auditor
Suite 2, Albion House
2 Etruria Office Village
Forge Lane
Stoke on Trent
Staffordshire
ST15RQ
Bankers The Co-Operative Bank
31 East Street
Derby
Derbyshire
DE1 2AL
Santander
UK Pic
1stFloor
5 Market Place
Derby
DE1 3PY

Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
2023 2023 2023 2023 2022
Note 8 6 6 8
Income and
endowments
from:
Donations and legacies 56,120 24,206 (13,062) 67,264 1,224,044
Charitable
activities		 1,558,563 327,921 2,647 1,889,131 5,319,962
Other trading activities 881,130 881,130 533,329
Investments 71,660 71,660 30,238
Total income and
endowments 2,567,473 352,127 (10,415) 2,909,185 7,107,573
Expenditure on:
Raising funds 827,623 827,623 440,677
Charitable
activities		 8 2,127,846 1,496,459 3,624,305 6,258,300
Total expenditure 2,955,469 1,496,459 4,451,928 6,698,977
Net (losses)/gains
on
investments (58,542) (109,455) (167,997) 31,552
Net (expenditure)
/income (446,538) (1,144,332) (119,870) (1,710,740) 440,148
Transfers between
funds 19 51,068 1,384 (52,452)
Net movement In
funds (395,470) (1,142,948) (172,322) (1.710,740) 440,148
Reconciliation of
funds:
Total funds brought
forward 2,030,509 16,646,036 2,136,930 20,813,475 20,373,327
Net movement in funds (395,470) (1,142,948) (172,322) (1,710,740) 440,148
Total funds carried
forward 1,635,039 15,503,088 1,964,608 19„102,735 20,813,475

2023
6		 2022f
Cash flows from operating activities
Net cash used in operating activities (637,796) 2,098,735
Cash flows from investing activities
Dividends
and interest from		 investments 71,660 30,238
Purchase oftangible
fixed assets		 (130,875) (252,921)
Purchase ofinvestments (400,000) (2,182,605)
Net cash used in investing activities (459,215) (2,405,288)
Net cash provided
by financing
activities
Change
in cash and cash		 equivalents in the year (1,097,011) (306,553)
Cash and cash equivalents at the beginning ofthe year 1,603,847 1,910,400
Cash and cash equivalents at the end of the year 506,836 1,603,847
The notes on pages 32 to 58form part ofthese financial statements

Unrestricted Restricted Endowment Total
funds funds funds funds
2023 2023 2023 2023
8 8 8
Arts Council England 400,099 400,099
Income from charitable
activities - Operation
ofmuseums - restricted funds 18,519 18,519
Derby City Council - Support 630,000 630,000
Derby City Council - Services 81,681 81,681
Arts Council England - Designation fund
Partnerships and grants 145,659 246,240 391,899
Income from retail, catering and IPR 2,480 2,480
Activities, events, displays
&exhibitions		 17,247 17,247
Learning
programmes
and research		 26,318 26,318
Other income 318,241 2,647 320,888
1,558,563 327,921 2,647 1,889,131
Unrestricted Restricted Endowment Total
funds funds funds funds
2022
8		 2022
8		 2022
f		 2022
8
Arts Council England - Strategic fund 400,099 127,429 527,528
Income from charitable
activities - Operation
of museums -restricted
funds		 19,210 19,210
Derby City Council - Support 630,000 630,000
Derby City Council - Services 81,680 81,680
Partnerships and grants 175,538 3,559,356 3,734,894
Income from retail, catering and IPR 2,480 2,480
Activities, events, displays
&exhibitions		 7,446 7,446
Learning
programmes
and research		 15,819 15,819
Other income 254,874 12,413 33,618 300,905
1,505,466 3,780,878 33,618 5,319,962

Unrestricted Total
funds funds
2023
6		 2023f
Investment income 64,125 64,125
Bank interest received 7,535 7,535
71,660 71,660
Unrestricted Endowment Total
funds funds funds
2022
6		 2022
f		 2022
6
Investment income 18,667 18,667
Bank interest received 11,571 11,571
11,571 18,667 30,238

Activities
undertaken Support Total
directly costs funds
2023 2023 2023
6 6
Operation of museums 3,203,694 420,611 3,624,305
Activities
undertaken Support Total
directly costs funds
2022f 2022
6		 2022f
Operation of museums 5,821,844 436,456 6,258,300
Activities
undertaken Support Total
directly costs funds
2022f 2022
6		 2022f
5,821,844 436,456 6,258,300

Total Total
funds funds
2023 2022
6
Staff costs 1,567,874 1,441,508
Depreciation 758,859 650,093
Premises snd transport 263,490 198,818
Supplies snd services 105,655 180,219
Supportservicss 82,480 81,680
Marketing
and PR		 93,444 124,868
Development 19,355 62,898
Exhibitions 247,280 303,220
Professional fees 16,628 18,300
Learning 42,391 27,412
Collections 6,238 2,732,828
3,203,694 5,821,844

Total Total
funds funds
2023 2022
5 6
Staif costs 389,990 385,631
Employment expenses 19,945 28,868
Bank charges 3,558 7,322
Governance costs 1,618 9,335
Audit fees 5,500 5,300
420,611 436,456

Unrestricted Restricted
funds funds Total
2023 2023 2023
8 8
Operation ofmuseums 2,127,846 1,496,459 3,624,305
Unrestricted Restricted
funds funds Total
2022
6		 2022
6		 2022f
Operation ofmuseums 1,693,058 4,565,242 6,258,300
Auditors' remuneration
2023
6		 2022f
Fees payable to the Company's auditor for the audit ofthe Company's
annual accounts 5,500 4,800

Staff costs
Group Group Company Company
2023 2022 2023 2022
6 6 6 8
Wages and salaries 1,985,532 1,632,951 1,562,288 1,420,412
Social security costs 151,107 123,491 123,167 123,491
Contribution to defined contribution pension
schemes 330,176 283,236 272,409 283,236
2,466,815 2,039,678 1,957,864 1,827,139

Group Group Company Company
2023 2022 2023 2022
No. No. No. No.
Average number ofemployees 132 103 100 82
Group Group
2023 2022
No. No.
In the band F60,001 - 670,000 1 1

Computer
software
8
At 1 April 2022 78,779
Disposals (78,779)
At 31 March 2023
At 1 Apdl 2022 78,779
Disposals (78,779)
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022

Short-term
Freehold leasehold Plant and Fixtures and Computer
property
6		 property machinery
6		 fittings
f		 equipment
6		 Total
6
Cost or valuation
At 1 April 2022 15,879 16,581,010 69,268 275,093 70,687 17,011,937
Additions 115,928 14,947 130,875
At 31 March 2023 15,879 16,696,938 69,268 290,040 70,687 17,142,812
Depreciation
At 1 April 2022 3,517 615,485 61,251 262,428 70,687 1,013,368
Charge for the year 836 742,561 4,623 10,839 758,859
At 31 March 2023 4,353 1,358,046 65,874 273,267 70,687 1,772,227
Net book value
At 31 March 2023 11,526 15,338,892 3,394 16,773 15,370,585
At 31 March 2022 12,362 15,965,525 8,017 12,665 15,998,569

Listed
investments
Group 8
Cost or valuation
At 1 April 2022 2,831,551
Additions 400,000
Revaluations (167,997)
At 3'I March 2023 3,063,554
Net book value
At 31 March 2023 3,063,554
At 31 March 2022 2,831,551
investments
in
subsidiary Listed
companies investments Total
Company 6 6 8
Cost or valuation
At 1 April 2022 1 2,831,551 2,831,552
Additions 400,000 400,000
Revaluations (167,997) (167,997)
At 31 March 2023 1 3,063,554 3,063,555
Net book value
At 31 March 2023 1 3,063,554 3,063,555
At 31 March 2022 1 2,831,551 2,831,552

Principal subsidiaries Principal subsidiaries Principal subsidiaries
The following was a subsidiary undertaking
ofthe Company:
Name Company Class of Holding
Included		 in
number shares consolidation
Derby Museums Enterprises Limited 08119695 Ordinary 100% Yes
The financial results ofthe subsidiary for the year were:
Name Income Expenditure Net assets
6 6 6
Derby Museuins
Enterpdses		 Limited 881,130 (881,130)
15. Stocks
Group Group
2023f 2022
6
Finished goods and goods for resale 44,133 42,072
The company held no stock (2022 - FNil) at the year end.
16. Debtors
Group Group Company Company
2023 2022 2023 2022
6 6
6		 6
Due within one year
Trade debtors 181,153 97,542 75,258 44,763
Amounts
owed by group undertakings		 298,283 231,211
Other debtors 147,784 79,313
Prepayments and accrued income 301,081 1,162,546 299,874 1,182,547
482,234 1,427,672 673,415 1,537,834

Group Group Company Company
2023 2022 2023 2022
6 6 6 6
Trade creditors 203,446 820,246 180,688 798,188
Other taxation and social security 52,109 165,138 52,109 96,667
Other creditors 26,757 35,445 26,757 33,644
Accruals and deferred income 82,295 69,607 31,272 27,365
364,607 1,090,436 290,826 955,864

Group Group Company Company
2023 2022 2023 2022
6 6 6
Financial assets
Financial assets measured at amortised cost 458,025 1,404,422 352,130 1,283,172
Group Group Company Company
2023 2022 2023 2022
6 K 6
Financial liabilities
Financial liabilities measure at amortised cost 262,910 925,298 238,717 859,197
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Analysis ofnet assets between funds - c urrent year
Unrestricted Restricted Endowment Total
funds funds funds funds
2023 2023 2023 2023
6 6 6
Tangible fixed assets 132,220 15,238,365 15,370,585
Fixed asset investments 1,115,622 1,947,932 3,063,554
Current assets 751,804 264,723 16,676 1,033,203
Creditors due within one year (364,607) (364,607)
Total 1,635,039 15,503,088 1,964,608 19,102,735
Analysis ofnet assets between funds
Unrestricted Restricted Endowment Total
funds funds funds funds
2022
6		 2022
6		 2022
6		 2022f
Tangible fixed assets 15,998,569 15,998,569
Fixed asset investments 694,621 2,136,930 2,831,551
Current assets 2,426,324 647,467 3,073,791
Creditors due within one year (1,090,436) (1,090,436)
Tl 2,030,509 16,646,036 2,136,930 20,813,475

Group Group
2023 2022
6 6
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) (1,710,740) 440,148
Adjustments for:
Depreciation charges 758,859 650,093
Loss / (Gains) on investments 167,997 (31,552)
Dividends,
interests		 and rents from investments (71,660) (30,238)
(Increase)/Decrease in stocks (2,081) (29,923)
Decrease/(Increase) in debtors 945,638 282,723
Increase/(Decrease) in creditors (725,829) 817,484
Net cash provided by/(used in) operating activities (637,796) 2,098,735
22. Analysis of cash and cash equivalents
Group Group
2023 2022
8 f
Cash
in hand		 506,836 1,603,847
Total cash and cash equivalents 506,836 1,803,847
23. Analysis of changes in net debt
At 1 April At 31 March
2022
E		 Cash flows
6		 2023
f
Cash at bank and in hand 1,603,847 (1,097,011) 506,836