REGISTERED CHARITY NUMBER: 1155363
THE BROOKING
PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
(A CHARITABLE INCORPORATED ORGANISATION WITH VOTING MEMBERS OTHER THAN THE CHARITY'S TRUSTEES)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR
THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 5 |
| Report of the Independent Auditors | 6 | to | 8 |
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Cash Flow Statement | 11 | ||
| Notes to the Cash Flow Statement | 12 | ||
| Notes to the Financial Statements | 13 | to | 20 |
THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 28 FEBRUARY 2022
| TRUSTEES | A Bishop |
|---|---|
| P Bonnici-Waddingham | |
| L Hockley | |
| C O'Sullivan | |
| R Hurtley | |
| PRINCIPAL ADDRESS | Brooking Museum |
| Andover Road | |
| Whitchurch | |
| Hampshire | |
| RG28 5RL | |
| REGISTERED CHARITY | 1155363 |
| NUMBER | |
| INDEPENDENT AUDITORS | Hopper Williams & Bell Limited |
| Statutory Auditor | |
| Highland House | |
| Mayflower Close | |
| Chandler's Ford | |
| Eastleigh | |
| Hampshire | |
| SO53 4AR | |
| BANKERS | HSBC UK Bank plc |
| 1 Centenary Square | |
| Birmingham | |
| B1 1HQ |
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
The trustees present their report with the financial statements of the charity for the year ended 28 February 2022. 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
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To advance the education of the public and the professions in the field of architecture.
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To develop, preserve and maintain the Brooking Collection for educational and museum purposes.
Public benefit
The Trustees confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in relation to public benefit.
Volunteers
The charity does not currently retain volunteer support although this is planned to change over the coming years. Trustees are wholly responsible for operational and administrative duties and ensure the charity to maintained on a day-to-day basis outside of the grant project outlined in the following section.
The trustees continue to review and implement policies in support of the organisational model.
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
ACHIEVEMENT AND PERFORMANCE
The charity continued in its development phase this year but with notable progress.
It continued to meet its purpose by providing opportunities to learn (via loan collections) at Charles Brooking's teaching gallery, within professional establishments, and at the Villum Museum. These opportunities continued to be impacted by COVID-19 restrictions.
Group visits to Charles Brooking's teaching gallery - subject to COVID-19 guidelines - continue to include SPAB, Historic England and National Trust as well as local groups.
This year the charity made significant progress in its aim to become a recognised and established museum with a successful grant project application awarded in March 2021. The grant facilitated the search and identification, and in July 2021, the freehold purchase of its first permanent home, a 12,000ft2 warehouse site with external grounds in Whitchurch, Hampshire.
The property purchase kick-started the operational aspects of the grant project. A project management team was created and from July 2021 to January 2022 the project focused on the ownership and preparation of the new site to receive the collection's 'most at risk' objects as quickly and efficiently as possible. Key services such as security, fire protection and basic utilities were inspected and where necessary renewed, replaced or returned to service. In addition to the existing storage racking inherited on site, major new racking systems were procured and installed to provide flexible short term and then long term storage solutions for the bulk of the relocated objects. The relocation of these objects (some 7,000ft2) using a professional collections removals contractor commenced during February 2022.
In parallel to the physical preparation of the site and the relocation and storage of the collections, the charity procured the services of a branding agency to develop the brand strategy. This work commenced in September 2021 and is ongoing.
Further and final repayments of legacy loans relating to the move from the University of Greenwich in 2012/13 were made to settle reconciled payments.
The award of the project grant has propelled the charity into a new and previously unattainable phase in its development. The purchase of the new property and the commencement of first phase relocation significantly reduces the risk facing its collections and facilitates the preservation and maintenance of its collections as well as the creation of a recognised and professionalised museum offer and operation.
FINANCIAL REVIEW
Financial position
During the year, net income was £2,255,747 (2021: £169,157). Funds carried forward as at the year-end were as follows: - unrestricted: a deficit of £2,896 (2021: a deficit of £2,255)
-
restricted: £2,403,148 (2021: £146,760)
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total funds £2,400,252 (2021: £144,505)
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
FINANCIAL REVIEW
Reserves policy
The charity's non-restricted finances are summarised as income, expenses and outstanding loans. Income is generated by two ongoing donations. There is currently no income generation. Expenses continue to be incurred by the barn storage rental agreement and electricity power supply, shipping containers storage (reduced business rates only), accountancy fees, liability insurance and sundries. Sundries are limited to maintaining our objects in storage, for example the purchase of tarpaulins to protect from rainwater leaks). Loans are outstanding to Charles Brooking and Susan Beardmore from activities mainly in 2012. With the termination of the sponsorship income in 2021, the reserves already accrued are held to provide for the current (since June 2021) shortfall between income and expenses and to absorb any unforeseen costs. Trustees continue to ensure that no costs are incurred beyond those included here and this includes a zero-expenses policy for trustees (beyond the foreign travel incurred for the Villum grant application). To protect the decreasing reserves, the grant project has prioritised the evacuation of the barn so that this major outgoing ceases as soon as is possible.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Brooking Museum of Architectural Detail is a Charitable Incorporated Organisation with voting members other that the charity's trustees. It is governed by a constitution dated 9 December 2013. There are two voting members. The liability of members and trustees is limited.
CHANGE OF NAME
The charity passed a special resolution on 12 July 2022 changing its name from Brooking Museum of Architectural Detail to The Brooking.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022
Approved by order of the board of trustees on 29 July 2022 and signed on its behalf by:
P Bonnici-Waddingham - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
Opinion
We have audited the financial statements of The Brooking (the 'charity') for the year ended 28 February 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 28 February 2022 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity, and the sector in which it operates. These include but are not limited to compliance with the Charities Act 2011, UK Generally Accepted Accounting Practice the charity SORP and the relevant tax compliance regulations for the charity.
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We obtained an understanding of how the charity is complying with these frameworks through discussions with management.
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We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through followup audit procedures including but not limited to a review of legal and professional costs, correspondence and a review of board minutes.
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We assessed the susceptibility of the charity's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.
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We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the sector in which the charity operates in, and their practical experience through training and participation with audit engagements of a similar nature.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
Other matter
The charity was not subject to an audit in the previous year and no audit opinion was formed on the comparative figures. Any adjustment to those figures would have a consequential effect on the profit for the year ended 28 February 2022.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR 30/08/2022 Date: .............................................
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Investment income 4 Other income Total EXPENDITURE ON Other NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 840 6,000 37 150 7,027 7,668 (641) (2,255) (2,896) |
Restricted funds £ 2,359,960 - - - 2,359,960 103,572 2,256,388 146,760 2,403,148 |
2022 Total funds £ 2,360,800 6,000 37 150 2,366,987 111,240 2,255,747 144,505 2,400,252 |
2021 Total funds £ 150,490 32,250 6 - 182,746 13,589 169,157 (24,652) 144,505 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
BALANCE SHEET 28 FEBRUARY 2022
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors: amounts falling due within one year 10 Debtors: amounts falling due after more than one year 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 3,317 - - 2,085 2,085 (8,298) (6,213) (2,896) (2,896) |
Restricted funds £ 1,025,529 447,223 529,101 429,684 1,406,008 (28,389) 1,377,619 2,403,148 2,403,148 |
2022 Total funds £ 1,028,846 447,223 529,101 431,769 1,408,093 (36,687) 1,371,406 2,400,252 2,400,252 (2,896) 2,403,148 2,400,252 |
2021 Total funds £ 339 86,435 - 85,465 171,900 (27,734) 144,166 144,505 144,505 (2,255) 146,760 144,505 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 July 2022 and were signed on its behalf by:
P Bonnici-Waddingham - Trustee
The notes form part of these financial statements
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ 1,384,318 1,384,318 (1,038,051) 37 (1,038,014) 346,304 85,465 431,769 |
2021 £ 80,589 |
|---|---|---|
| 80,589 | ||
| - 6 |
||
| 6 | ||
| 80,595 4,870 |
||
| 85,465 |
The notes form part of these financial statements
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2022
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 £ Net income for the reporting period (as per the Statement of Financial Activities) 2,255,747 Adjustments for: Depreciation charges 9,544 Interest received (37) Increase in debtors (889,889) Increase/(decrease) in creditors 8,953 Net cash provided by operations 1,384,318 2. ANALYSIS OF CHANGES IN NET FUNDS At 1.3.21 Cash flow £ £ Net cash Cash at bank and in hand 85,465 346,304 85,465 346,304 Total 85,465 346,304 |
2021 £ 169,157 340 (6) (86,435) (2,467) 80,589 At 28.2.22 £ 431,769 431,769 431,769 |
|---|---|
The notes form part of these financial statements
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Grants
The accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions.
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 property Straight line over 50 years - Fixtures and fittings Straight line over 15 years - Computer equipment Straight line over 5 years
Taxation
The charity is exempt from 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
1. ACCOUNTING POLICIES - continued
Heritage assets
The collection is estimated to contain approximately 500,000 objects which are not currently inventoried, catalogued or formally accessioned. Until the recent commencement of relocation of the collection to the new premises, the collection was predominantly stored in a failing barn, and due to the number of objects stored there it rendered them entirely inaccessible. In addition to this there are four shipping containers to which the keys have been lost, so until such time the trustees are ready to relocate the contents they will need to break into them to access the objects, so again these remain inaccessible. The final part of the collection is housed at the home of the Founding Collector, Charles Brooking. Again, the objects are stored so tightly that they are inaccessible. Therefore, at this stage of the operation the trustees do not know exactly what is held within the collection and thus have no ability to have them valued. In time certain objects of value may be identified but due to the size of the collection, inventory and cataloguing will take multiple years. Furthermore, the vast majority of the objects have been rescued from disposal, are not in prime condition, or are in sectioned pieces.
2. DONATIONS AND LEGACIES
3.
| Donations Gift aid Grants Grants received, included in the above, are as follows: Villum Foundation - Development grant Villum Foundation - Main grant OTHER TRADING ACTIVITIES Sponsorships Collection rental |
2022 £ 840 - 2,359,960 2,360,800 2022 £ - 2,359,960 2,359,960 2022 £ - 6,000 6,000 |
2021 £ 340 150 150,000 |
2021 £ 340 150 150,000 |
|---|---|---|---|
| 150,490 | |||
| 2021 £ 150,000 - |
|||
| 150,000 | |||
| 2021 £ 26,250 6,000 |
|||
| 32,250 |
Grants received, included in the above, are as follows:
continued...
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
4. INVESTMENT INCOME
| 2022 £ Deposit account interest 37 5. SUPPORT COSTS Governance Management costs £ £ Other resources expended 101,328 9,912 Support costs, included in the above, are as follows: Management 2022 Other resources expended £ Hire of plant and machinery 1,124 Rent 7,992 Insurance 1,747 Light and heat 1,504 Office expenses 924 Advertising 84 Sundries 93 Other premises costs 24,040 Foreign exchange loss 24,933 Relocation costs 9,417 Loan write back (824) Consultancy fees 20,750 Depreciation of tangible assets 9,544 101,328 Governance costs 2022 Other resources expended £ Auditors' remuneration 7,560 Auditors' remuneration for non-audit work 2,352 Legal and professional fees - Independent examination fees - 9,912 |
2021 £ 6 Totals £ 111,240 2021 Total activities £ - 8,207 - - 82 - 232 520 - - - - 340 9,381 2021 Total activities £ - - 3,698 510 4,208 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
6. AUDITORS' REMUNERATION
| AUDITORS' REMUNERATION | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the charity's auditors for the audit of the charity's financial | |||
| statements | 7,560 | - | |
| Auditors' remuneration for non-audit work | 2,352 | - |
Independent examination fees for the year ended 28 February 2021 totalled £510.
7. TRUSTEES' REMUNERATION AND BENEFITS
During the year the following consultancy fees were paid to trustees:
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A Bishop £8,245 (2021: £nil)
-
P Bonnici-Waddingham £9,880 (2021: £nil)
The fees were paid to the trustees in order that the charity can deliver the Villum Foundation grant project and were paid in accordance with the charity's constitution.
Other than as set out above, no trustees' remuneration or other benefits were paid during the year ended 28 February 2022 or the year ended 28 February 2021.
Trustees' expenses
During the year ended 28 February 2022, travel and subsistence expenses totalling £63 were reimbursed or paid directly to one trustee (2021: £232 to two trustees).
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 490 Other trading activities 32,250 Investment income 6 Total 32,746 EXPENDITURE ON Other 10,349 NET INCOME 22,397 RECONCILIATION OF FUNDS Total funds brought forward (24,652) TOTAL FUNDS CARRIED FORWARD (2,255) |
Restricted funds £ 150,000 - - 150,000 3,240 146,760 - 146,760 |
Total funds £ 150,490 32,250 6 182,746 13,589 169,157 (24,652) 144,505 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
9. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 March 2021 - - Additions 978,984 55,932 At 28 February 2022 978,984 55,932 DEPRECIATION At 1 March 2021 - - Charge for year 9,137 - At 28 February 2022 9,137 - NET BOOK VALUE At 28 February 2022 969,847 55,932 At 28 February 2021 - - 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income |
Computer equipment £ 1,183 3,135 4,318 844 407 1,251 3,067 339 2022 £ 447,223 |
Totals £ 1,183 1,038,051 |
Totals £ 1,183 1,038,051 |
|---|---|---|---|
| 1,039,234 | |||
| 844 9,544 |
|||
| 10,388 | |||
| 1,028,846 | |||
| 339 | |||
| 2021 £ 86,435 |
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
| 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 12. MOVEMENT IN FUNDS At 1.3.21 £ Unrestricted funds General fund (2,255) Restricted funds Villum Foundation - Main Grant - Villum Foundation - Development Grant 146,760 146,760 TOTAL FUNDS 144,505 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 7,027 Restricted funds Villum Foundation - Main Grant 2,359,960 Villum Foundation - Development Grant - 2,359,960 TOTAL FUNDS 2,366,987 |
2022 £ 8,212 28,475 36,687 Net movement in funds £ (641) 2,257,029 (641) 2,256,388 2,255,747 Resources expended £ (7,668) (102,931) (641) (103,572) (111,240) |
2021 £ - 27,734 27,734 At 28.2.22 £ (2,896) 2,257,029 146,119 2,403,148 2,400,252 Movement in funds £ (641) 2,257,029 (641) 2,256,388 2,255,747 |
|---|---|---|
continued...
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 29.2.20 £ Unrestricted funds General fund (24,652) Restricted funds Villum Foundation - Development Grant - TOTAL FUNDS (24,652) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 32,746 Restricted funds Villum Foundation - Development Grant 150,000 TOTAL FUNDS 182,746 |
Net movement At in funds 28.2.21 £ £ 22,397 (2,255) 146,760 146,760 169,157 144,505 Resources Movement expended in funds £ £ (10,349) 22,397 (3,240) 146,760 (13,589) 169,157 |
|---|---|
The specific purposes for which the funds are to be applied are as follows:
Villum Foundation - the establishment of a new and permanent home for the charity's collection, funded by grants from the Villum Foundation. The charity has received two grants:
a) Development grant - to facilitate delivery of the initial foundation elements of the overall grant application proposal.
b) Main grant - to fund the search, identification, acquisition and retention of new building premises; the transportation of the collection from its current locations to these premises; and the project management of the creation and the initial operation of an appropriately resourced museum programme.
Unrestricted general funds represent the free funds of the charity which are not designated for particular purposes.
continued...
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THE BROOKING PREVIOUSLY KNOWN AS BROOKING MUSEUM OF ARCHITECTURAL DETAIL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2022
13. OTHER FINANCIAL COMMITMENTS
As at the year-end, the charity had commitments under operating leases which totalled £666 (2021: £666).
14. RELATED PARTY DISCLOSURES
As at the year-end, balances totalling £16,400 (2021: £27,224) are owed to the founding members.
There were no other related party transactions during the year other than consultancy fees paid to trustees which are disclosed in note 7.
15. MEMBERS LIABILITY
In the event that the CIO is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. As at 28 February 2022 there were two members of the CIO (2021: two).
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