REGISTERED COMPANY NUMBER: 08341084 (England REGISTERED CHARITY NUMBER: and Wales) 1152735
The Pickering Beck Isle Museum Of Rural Life
Unaudited Financial Statements
3 st December 202 1 3
The Pickering Beck Isle Museum Of Rural Life
Contents of the Financial Statements for the year ended 31 December 2023
| Page | |
|---|---|
| Chairperson's Report | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
The Pickering Beck Isle Museum Of Rural Life
Chairperson's Report
for the year ended 31 December 2023
2023 has been another challenging year rising overheads and falling admissions have led to another year with a substantial trading loss.
Unfortunately, the unseasonably wet weather had a negative effect on the fabric of the building, with the roof letting in water at various places. The most serious to our visitor experience was the partial collapse of the nursery ceiling. In the new year we will be applying for a MEND grant to carry our essential repairs, we should hear if we are successful mid 2024 with work commencing in 2025.
The Collections manager Sarah successfully applied to the Heritage Lottery fund for a grant to carry out a Collections review, this grant was for £97698 payable in two halves. A collections assistant has been employed to carry out the review, with Sarah working an additional day to oversee the project.
Various initiatives have been put in place to raise additional funds, the most successful being Music Events which trustee Bruce Pickup organized and publicized with help from volunteers. These events raised almost £4000 with minimal costs. Thanks, must also go to our sponsors Enterprise Motors of Pickering for their support. These events will continue in 2024.
The Christmas fair and summer raffle also raised much needed funds. Michala the operations manager expanded our craft workshop offering which we will continue to develop in 2024.
The museum was also due for reaccreditation in 2023 this had been delayed due to lock down. Much of the managers time during our closed season was taken up with updating the policies ready for submission in early January 2024.
Due to falling visitor numbers and shortage of front of house volunteers the trustees had to revisit the opening hours of the museum. It was decided to open five days per week Monday to Thursday and Saturday. This decision has not been found to negatively impact on visitor numbers with Saturday showing an increase in trade compared to 2022.
The trustees are extremely grateful to all the volunteers who give their time to every aspect of the museum many taking on more than one role. Without you all we would cease to exist.
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The Pickering Beck Isle Museum Of Rural Life
Report of the Trustees 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 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objective of the Museum is to collect, preserve and exhibit items of local historical interest and to inspire, educate and entertain visitors.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08341084 (England and Wales)
Registered Charity number
1152735
Registered office
Beck Isle Bridge Street Pickering North Yorkshire YO18 8DU
Trustees
A R Bundy (Resigned on 19/09/2023) S Croft P R Hall J Kinghorn S Knight J Leigh A C P Mcdonnell (Resigned on 19/09/2023) S C Pacey (Resigned on 27/03/2024) B Pickup Rev D M Talbot (Appointed on 05/04/2024)
Independent Examiner
Smailes Goldie Chartered Accountants 50-51 Hungate Pickering North Yorkshire. YO18 7DG
Approved by order of the board of trustees on …5[th] June 2024………….. 2024 and signed on its behalf by:
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J Kinghorn - Trustee
Independent Examiner's Report to the Trustees of The Pickering Beck Isle Museum Of Rural Life
Independent examiner's report to the trustees of The Pickering Beck Isle Museum Of Rural Life ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’) and Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity 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 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 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act or by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content 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.
Nicola Shipley FCA
Smailes Goldie Chartered Accountants 50-51 Hungate Pickering North Yorkshire. YO18 7DG
…………………… 2024
The Pickering Beck Isle Museum Of Rural Life
Statement of Financial Activities for the year ended 31 December 2023
2023 2022
Page 3
| Unrestricted funds INCOMING RESOURCES FROM: Notes £ Donations and legacies 5,928 Admissions 29,253 Grants received - Sale of artefacts - Shop and sundry income 16,577 Interest receivable 865 Total 52,623 RESOURCES EXPENDED: Charitable expenditure: Charitable activities 2 66,832 Total 66,832 NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS (14,209) Total funds brought forward 312,494 TOTAL FUNDS CARRIED FORWARD 298,285 |
Restricted fund £ - - 53,587 - - - 53,587 18,425 18,425 35,162 10,356 45,518 |
Total funds £ 5,928 29,253 53,587 - 16,577 865 106,210 85,257 85,257 20,953 322,850 343,803 |
|
|---|---|---|---|
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The notes form part of these financial statements
Page 5
The Pickering Beck Isle Museum Of Rural Life
Balance Sheet 31 December 2023
| Unrestricted funds FIXED ASSETS Notes £ Tangible assets CURRENT ASSETS 6 250,000 Stocks 7 3,019 Debtors 8 - Cash at bank and in hand 55,774 CREDITORS 58,793 Amounts falling due within one year 9 (5,229) NET CURRENT ASSETS 53,564 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS 303,564 Amounts falling due after more than one year 10 (5,279) NET ASSETS 298,285 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 45,518 45,518 - 45,518 45,518 - 45,518 |
2023 Total funds £ 250,000 3,019 - 101,292 104,311 (5,229) 99,082 349,082 (5,279) 343,803 298,285 45,518 343,803 |
2022 Total funds £ 250,000 4,030 494 89,735 94,259 (9,596) 84,663 334,663 (11,813) 322,850 |
|---|---|---|---|
| 312,494 10,356 322,850 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
continued...
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
The Pickering Beck Isle Museum Of Rural Life
Balance Sheet - continued 31 December 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5[th] June 2024…………. and were signed on its behalf by:
J Kinghorn - Trustee
continued...
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The notes form part of these financial statements
The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements for the year ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land
Nil
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities allocated to the appropriate heading.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements - continued for the year ended 31 December 2023
| 2. CHARITABLE ACTIVITIES 2023 2022 £ £ Opening stock Purchases Closing stock Trading activities Wages Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Subscriptions Repairs and renewals Cleaning and maintenance Sundries Software and support Grants - projects expenditure (all of which is restricted funds) Conservation and displays Fixtures and fittings Bank charges Bank loan interest Accountancy fees Independent examination fees Legal fees Hire of |
4,030 3,577 3,372 3,387 (3,019) 4,383 34,096 34,228 1,126 483 492 492 4,425 5,022 2,330 8,443 758 685 784 1,031 2,301 4,174 429 534 4,876 15,036 2,816 4,541 3,308 2,284 898 876 18,425 - 322 1,716 - 106 1,099 926 261 341 564 360 1,500 1,063 - 130 hall 64 204 85,257 85,609 |
|---|---|
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Wages and salaries Social security Pension |
2023 2022 43,228 34,228 - - 1,451 483 44,679 34,711 |
|---|---|
| 4 |
continued...
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The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements - continued for the year ended 31 December 2023
4. STAFF COSTS (continued)
The average monthly number of employees during the year was as follows:
| Part time managers Part time team |
2023 3 2 ~~5~~ |
2022 2 2 ~~4~~ |
|---|---|---|
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds Notes £ INCOMING RESOURCES FROM: Donations and legacies 3,968 Admissions 33,814 Grants received 4,000 Sale of artefacts - Shop and sundry income 9,722 Interest receivable 214 Total RESOURCES EXPENDED: Charitable expenditure: Charitable activities 3 81,295 Total 81,295 NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS (29,577) Total funds brought forward 342,071 TOTAL FUNDS CARRIED FORWARD 51,71 8 312,4 94 |
Restricted fund £ - - 4,314 1,470 - - 4,314 4,314 1,470 8,886 ~~5,78~~ 4 10,35 6 |
|
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continued...
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The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements - continued for the year ended 31 December 2023
| 6. TANGIBLE FIXED ASSETS Freehold property COST At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 7. STOCKS 2023 2022 £ £ Stocks 3,019 8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 £ £ Trade debtors - 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Trade creditors 45 Social security and other taxes - Accrued expenses 1,917 Other loans 3,267 - 5,229 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 £ £ Other loans (see note 11) 5,279 11. LOANS An analysis of the maturity of loans is given below: 2023 2022 £ £ Amounts falling between one and two years: Other loans less than one year 3,267 Other loans - 1-2 years3,267 3,267 Other loans – 2-5 years |
6. TANGIBLE FIXED ASSETS Freehold property COST At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 7. STOCKS 2023 2022 £ £ Stocks 3,019 8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 £ £ Trade debtors - 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Trade creditors 45 Social security and other taxes - Accrued expenses 1,917 Other loans 3,267 - 5,229 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 £ £ Other loans (see note 11) 5,279 11. LOANS An analysis of the maturity of loans is given below: 2023 2022 £ £ Amounts falling between one and two years: Other loans less than one year 3,267 Other loans - 1-2 years3,267 3,267 Other loans – 2-5 years |
3,019 | £ 250,000 250,000 250,000 4,030 494 116 - 9,481 9,597 11,813 3,267 2,012 5,279 |
£ 250,000 250,000 |
£ 250,000 250,000 |
£ 250,000 250,000 |
|---|---|---|---|---|---|---|
| 250,000 | ||||||
| 4,030 494 116 - 9,481 9,597 11,813 |
4,030 | |||||
| - | 494 | |||||
| 116 - 9,481 |
||||||
| 9,597 | ||||||
| 5,279 | ||||||
| 3,267 | 3,267 5,279 |
continued...
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The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements - continued for the year ended 31 December 2023
12. MOVEMENT IN FUNDS
| Restricted funds 312,494 Restricted funds 10,356 TOTAL FUNDS 322,850 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 52,623 Restricted funds Restricted funds 53,587 TOTAL FUNDS 106,210 At 1.1.23 Unrestricted funds £ General fund 287,333 Property Fund 25,161 |
(14,209) 298,285 35,162 45,518 20,953 343,803 Resources Movement expended in funds £ £ 66,832 (14,209) 18,425 35,162 85,257 20,953 Net movement At in funds 31.12.23 £ £ (14,209) 273,124 - 25,161 |
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The Pickering Beck Isle Museum Of Rural Life
Notes to the Financial Statements - continued for the year ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| movement At At 1.1.22 in funds 31.12.22 £ Unrestricted funds General fund 316,910 Property Fund 25,161 342,071 Restricted funds Restricted funds 8,886 TOTAL FUNDS 350,957 Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds £ Unrestricted funds General fund 51,718 Restricted funds Restricted funds 5,784 TOTAL FUNDS 57,502 |
Net £ (29,577) - (29,577) 1,470 (28,107 ) £ (81,295) (4,314) (85,609 ) |
£ 287,333 25,161 312,494 10,356 322,850 £ (29,577) 1,470 (28,107 ) |
|
|---|---|---|---|
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.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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