**Charity registration number 1154120**
**Company registration number 07930803 (England and Wales)**
## **MUSEUM OF ARCHITECTURE**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **MUSEUM OF ARCHITECTURE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Ms M F Woolford||
|---|---|---|
||Mr G Woolford||
||Mr T Masten||
||Mr R C Fiehn||
||Mr J Harvey||
||Ms M Leung||
||Mr S Adams||
||Mr C Hildrey||
||Ms S Tabassum|(Appointed 31 January 2022)|
|**Secretary**|Ms M F Woolford||
|**Charity number**|1154120||
|**Company number**|07930803||
|**Registered office**|Flat 5||
||11 Rutland Gate||
||London||
||SW7 1BH||
|**Independent examiner**|F J Wilde FCCA MBA DChA||
||Warner Wilde||
||4 Marigold Drive||
||Bisley||
||Surrey||
||GU24 9SF||
|**Bankers**|HSBC - Oxford Street||
||431 Oxford Street||
||London||
||W1C 2DA||
## **MUSEUM OF ARCHITECTURE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 14|
## **MUSEUM OF ARCHITECTURE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
The Trustees present their annual report and financial statements for the year ended 30 September 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing documen t , the Companies Act 2006 and "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**
The charity's objects are :
a) to advance education and research on the subjects of architecture, building, town planning, construction and development and the inter-relationship between the natural and built environment and related disciplines.
b) to establish and maintain, or to support the establishment and maintenance of, a museum or gallery, or museums or galleries, or spaces or other resources that provide the infrastructure and environment to encourage and assist such education and research.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
The Museum of Architecture continued to be in recovery this year, but was able to support the four-person team and run various programming.
MoA held The Gingerbread City for the first time since covid in December 2021 - January 2022. There were still issues around sickness and people being timid about meeting others indoors, but many wore masks and came back to the exhibition with enthusiasm. We had over 15,000 visitors (2019 was over 30,000 visitors), and the event was held in Belgravia with Grosvenor as a location sponsor. We also had continued sponsorship from Finsa for the wood materials and Phos for lighting which helped make the event possible. The masterplanning was done by Tibbalds and Madeleine Kessler Architects.
In January 2021, MoA in partnership with RGB Kew launched an international design competition for the Treehouses exhibition. The competition had 5,000 downloads of the brief and 250 entries. After a two-stage competition, three practices were chosen. MoA and RGB Kew also commissioned other Treehouses as well.
In April, Melissa received the Golden Key Academician from Open City at their keynote lecture for her contribution to the profession.
MoA's summer exhibition, Nature's Architects, was supported by Cadogan and was a trail of 20 miniature installations and interpretation signage that was inspired by animals, insects, or plants using the concept of biomimicry in the designs. The exhibition was showcased in Duke of York Square and Pavilion Road and accompanied by an online website with further information which was visited by over 5,000 people during the 6- week run.
MoA also ran our Associates Club with Russell Pollard from Framework Leadership for eight practices.
Planning was underway for The Gingerbread City 2022 at the end of the financial year and Treehouses went on hold while further details were worked out as a result of the war and economic pressures.
While this year resulted in exciting projects both realised in this financial year and being developed for the future, the economic situation in the UK is worrying for MoA and its partner and sponsor organisations.
The Museum continues to look at sustainability planning and alternative ways of providing income, which includes the spinning off of some of its projects for outside investment.
- 1 -
## **MUSEUM OF ARCHITECTURE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **Financial review**
Total income for the year has increased to £383,035 (2021: £69,813). Total expenditure for the year was £373,033 (2021: £75,921).
The overall result is a surplus for the year of £10,002 (2021: deficit of £6,108). Total reserves now stand at £10,310 (2021: £308).
## **Reserves Policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
In 2021, reserves were affected by a significant decrease in income as a result of Covid. The charity is planning to build the reserves back up over the next year or two.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is a company limited by guarantee.
The Trustees who served during the year were: Ms C Pease (Resigned 31 March 2022) Mr J Hargrave (Resigned 10 November 2022) Ms M F Woolford Mr G Woolford Mr T Masten Mr R C Fiehn Mr J Harvey Ms M Leung Mr S Adams Ms N Dove-Edwin (Resigned 5 December 2021) Mr C Hildrey Ms S Tabassum (Appointed 31 January 2022)
## **Trustee recruitment**
Trustees are recruited depending on what talent and expertise is needed on the board. The Director reaches out to individuals after consultation with the other board members.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Organisational structure**
Day to day running is led by Director, Melissa Woolford with help from Linda Lu and Morvi Koochak. Rob Fiehn, as chair, is a very active member of the board and organisation.
- 2 -
## **MUSEUM OF ARCHITECTURE**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
The trustees r eport was approved by the Board of Trustees.
.............................. Ms M F Woolford
23.06.2023 Date: .............................................
- 3 -
MUSEUM OF ARCHrrECTURE
INDEPENDENT EXAMINER'S REPORT
TO THETRUSTEES OF MUSEUM OFARCHITECTURE
I report to the Trustees on my •xaminallon ot the fHn¢al statemants of Mus¢um of Architodurn (the tharftyl for
th8 ye8r ended 30 September 2022.
Rasponslbllltl•• •nd b•sl* of r•port
As tho TTU5tgès of the charity {and also its dlrnctors for th8 purKX)s8s of o)mpany lawl you af• rasponsibltr for the
preparatson of the financial statsments kn accordan¢o wilh the requirements of the Companies Act 2006 (the
2006Act}.
Hamng 8atl8fi8d mothat tho finandal 8tatements of th8 drity ar• not requirod to be audited under Part 16 of
tho 2006 Act and 8ro èligibb for indyndent examlrwtk)n. I r8Wt In r8sp8Ct of my ex8mlnaUon of th• charfty's
finandal staternents cardsd out urKter secbon 145 of the ChartU8s Act 2011 (th9 2011 A¢tl. In carrylng out my
examln8Uon I have followed 811 the applkablo Dirfjctknns gven by the Charity CcfflMisn under wtion 145(5)
(bl olthe 2011 ACL
Ind•p•nd•nt •xamln•rfs •t•t•m•nt
Since the chartys gross income oxceeded £250.000 youi ex8mirw must b8 a momber tst a body 1181od In
$8ctk)n 145 of the 2011 Act. I confim that l arn qualifiod to undertake the gxomlnaon bU88 l am a m&mb8r of
A88oclallon of Charternd C•rtMéd Accounlonts. whleh L8 one of the Isted bodw.
I hav8 compl&tsd my examinalon. I conllrm th81 rK) matters have com• to my attent1 In conn¢dM wth the
exgminallon gmng me cause lo bellev& that in any malerlal respecL
accounting racords were not kept in respect of thè charlty a8 requ by secth)n 386 of th8 2006 Acl,. or
tho flnandal slaiements do not aD))rd vrith thosa r8oJrd3; Cf
thg flnanclal statomonls do not wlth Iho accounttrvJ rnqulr•m8nts of soctlon 396 of tho 21Y)8 Act
other than any requirement that the accomts g0 a tn and falr vkw which is not a matter ¢on8ldored as
part of an Independent examlnaoon:
th& flnancial ststsmonts hove not boon wepared In a¢nc• th t mthod$ aThJ prlnclplg8 of thè
Statomont of Recommend8d Practice for accounting and portIfig by charftl&s appllcable to chadlkgs
preparing thoW occounts in accord with the FInar101 Repon9 St8ndard applic8ble in the UK and
Republlc of Ire18nd IFRS 102}.
I have no ncernS and have cfymo ocr088 M othor matt8rs kn Conn110 wllh the examinaU¢)n to whith attantlon
should be dravm In thLs report In ord•r lo •nabl6 a pmper und8rstandlrwJ crf the finandal stataments to bo
f8ached.
F J Wbld• FCCA MBA DChA
Wamor WlhJe
4 M8rfgold Drive
Bislay
Surrey
GU24 9SF
## **MUSEUM OF ARCHITECTURE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|
**funds**|
|||**2022**|
**2021**|
||**Notes**|
**£**|
**£**|
|**Income from:**||||
|Donations and legacies|**3**|18,667|
16,685|
|Charitable activities|**4**|364,368|
53,128|
|**Total income**||383,035|
69,813|
|**Expenditure on:**||||
|Raising funds|**5**|3,152|
1,196|
|Charitable activities|**6**|369,881|
74,725|
|**Total expenditure**||373,033|
75,921|
|**Net income/(expenditure) for the year/**||||
|**Net movement in funds**||10,002|
(6,108)|
|Fund balances at 1 October 2021||308|
6,416|
|**Fund balances at 30 September 2022**||10,310|
308|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **MUSEUM OF ARCHITECTURE**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2022**_
|**2022**
**Notes**
**£**
**Fixed assets**
Investments
**11**
**Current assets**
Debtors
**12**
44,407
Cash at bank and in hand
1,802
46,209
**Creditors: amounts falling due within**
**one year**
**13**
(35,902)
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**£**
3
10,307
10,310
10,310
10,310|**2021**
**£**
50
2,536
2,586
(2,281)|**£**
3
305
308
308
308|
|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on ......................... 26 June 2022
..............................
Ms M F Woolford **Trustee**
## **Company registration number 07930803**
- 6 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Museum of Architecture is a private company limited by guarantee incorporated in England and Wales. The registered office is Flat 5, 11 Rutland Gate, London, SW7 1BH.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Charity has generated a surplus up to the date of signing the accounts which will assist in achieving the reserves target. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income is deferred to the extent that it relates to future periods.
- 7 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **1.6 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at the recoverable amount.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price and subsequently carried at amount payable.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 8 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**4**
**5**|**Unrestricted**Unrestricted
**funds**
funds
**2022**
2021
**£**
£
Donations and gifts
18,667
552
Grants receivable
-
16,133
18,667
16,685
**Charitable activities**
**2022**
**2021**
**£**
**£**
Sales within charitable activities
364,368
53,128
**Raising funds**
**Unrestricted**
Total
**funds**
**2022**
2021
**£**
£
Fundraising and publicity
Advertising
3,152
1,196
3,152
1,196|
|---|---|
- 9 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **6 Charitable activities**
|Staff costs
Cost of sales
Subcontractor costs
Rent
Computer software
Books and journals
Insurance
Travel
Staff training and expenses
Entertaining
Irrecoverable VAT
VAT penalty
Sundry costs
Grant funding of activities (see note 7)
Share of governance costs (see note 8)|**2022**
**£**
37,628
116,538
192,548
526
3,738
424
1,657
2,667
85
366
308
1,931
499
358,915
24
10,942
369,881|**2021**
**£**
17,941
20,075
26,085
345
3,494
-
723
1,160
-
-
922
-
-
70,745
28
3,952
74,725|
|---|---|---|
## **7 Grants payable**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Grants to institutions:|||
|Other|24|28|
- 10 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **8 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
-
8,470
Accountancy fees
-
2,163
Bank charges
-
309
-
10,942
Analysed between
Charitable activities
-
10,942|**2022**
Support
costs
Governance
costs
**£**
£
£
8,470
-
1,500
2,163
-
2,276
309
-
176
10,942
-
3,952
10,942
-
3,952|2021
£
1,500
2,276
176
3,952
3,952|
|---|---|---|
Accountancy fees includes the Independent Examiners fees of £ 1,386 (2021- £1,284).
## **9 Trustees**
The director was reimbursed expenses in the year to the value of £1,083 and received consultancy fees of £100,800 as disclosed in note 15.
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|36,714|17,600|
|Other pension costs|914|341|
||37,628|17,941|
There were no employees whose annual remuneration was £60,000 or more.
- 11 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
|**11**
**Fixed asset investments**
**Cost or valuation**
At 1 October 2020 & 30 September 2021
**Carrying amount**
At 30 September 2022
At 30 September 2021
Other investments comprise:
**Notes**
Investments in subsidiaries
**16**
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**14**
Other creditors
Accruals and deferred income
**14**
**Deferred income**
Arising from Deferred Income|**Other**
**investments**
3
3
3
**2022**
**2021**
**£**
**£**
3
3
**2022**
**2021**
**£**
**£**
17,604
-
50
50
26,753
-
44,407
50
**2022**
**2021**
**£**
**£**
7,875
(1,578)
9,720
-
4,441
2,247
13,866
1,612
35,902
2,281
**2022**
**2021**
**£**
**£**
9,720
-|
|---|---|
- 12 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **14 Deferred income**
|**Deferred income**
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 October 2021
Resources deferred in the year
Deferred income at 30 September 2022|**(Continued)**
**2022**
**2021**
**£**
**£**
9,720
-
-
-
9,720
-
9,720
-|
|---|---|
Deferred income relates to payments in advance for events after the balance sheet date.
## **15 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
|Key management personnel|**2022**
**£**
100,800
100,800|**2021**
**£**
15,167
15,167|
|---|---|---|
During the year the charity paid Nous Collaborative Ltd, a company wholly owned by the director, M Woolford, the above fees for management services.
The director was also reimbursed expenses of £1,083.
- 13 -
## **MUSEUM OF ARCHITECTURE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_
## **16 Subsidiaries**
These financial statements are separate charity financial statements for the Museum of architecture.
Separate company financial statements are required to be prepared by law. Consolidated financial statements are not required as the group constitutes a small group.
Details of the charity's subsidiaries at 30 September 2022 are as follows:
|**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**|
|---|---|---|---|---|
||**office**||**shares held**|**Direct Indirect**|
|MOA Collaborative|England and|Dormant Company|Ordinary|100.00|
||Wales||shares||
## **17 Contingent Liability**
Whilst the charity is getting established, management staff have not received their full fees. The trustees will pay this at some time in the future, funds permitting. The amount owed at 30 September 2022 is £136,959 (2021: £145,959).
- 14 -