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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Wycombe Heritage and Arts Trust
Annual Report and Financial Statements
for the year ended 31 March 2024
Charity no. 1155456
Company no. 08783933

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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Index
PAGE
Legal and administrative details
Trustee5 report
Report of the Independent Examiner
io
Statement of Financial Activities
li
Balance Sheet
12
Notes to the Financial Statements
13

WHAI
Wyc•mb• Hitita9¢•Art%Tru6t
Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Wycombe Heritage and Arts Trust is a company limited by guarantee and is a registered charity
governed by its Memorandum and Articles of Association. For the purposes of charity law the trustees
are the directors of the charity and throughout this report are collectively referred to as 'trustees'.
LEGAL AND ADMINISTRATIVE DETAILS
Company registration number:
08783933
Charity registration number:
1155456
Registered office:
Wycombe Museum
The Greenway
High Wycombe
HP13 6PX
Trustee Board:
Stephen Mills {Chair and Company Secretary)
Jenifer Baker OBE
Fay Ewing (appointed 7 December 2023)
Lyndsey Feeney
Jim Foy
Anthony Green
Susan Leighs
Sarah Major
Stephen Milner
Bankers:
Metro Bank PLC
Unit 81-113
2 Eden Walk
High Wycombe
HPII 2AW
Chartered Accountants".
Calculo Tax Audit Ltd
29-31 Castle Street
High Wycombe
HP13 6RU
Page | I

Wycombe Heritage and Arts Trust
Year ended 31 Jmarch 2024
Trustees Report for the year to 31 March 2024
The Trustee5 of Wycombe Heritage and Arts Trust, who are also the Directors of the Charity for the
purposes of the Companies Act 2006, present their Annual Report and Financial Statement for the year
ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the
accounts and comply with the Charity'5 governing document, the Companies Act 2006 and Accounting
ond Reporting by Chorities.. Statement of Recommended Practice ISORPI applicable to charities
preparing their accounts in accordance with the Financi21 Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021 (effective l January 20161.
Objectives, Activitie5 and Public Interest
The Charity's objects are..
to establish and maintain a museum and art gallery for the benefit of the public
to advance education by the running of a Heritage and Arts Service
such other charitable purposes beneficial to the public consistent with the objects above as the
Trustees acting reasonably shall determine.
The Charity's objectives are to provide a well-managed and accessible collertion that reflects the
material culture of communities across Wycombe district, in an enjoyable, friendly, safe and captivating
environment that actively encourages life-long learning for all, and to strengthen partnerships internally
and externally in order to promote the Museum as a valuable resource for the community, visitors and
heritage specialists.
Our Mission:
Building pride in Wycombe by using our heritage to understand the stories ojour
people ¢7nd ¢ommuniTties
Strategic Plan
During 2023, Trustees and staff of the Musellm developed a new set of strategic aims, as statements of
intent which support our Mission. These aim5 will act as the foundations for Trustee decision-making
during the next five years, and will be regularly reviewed and assessed by the Board and Management.
The aims are built around two pillars- Engoging Our Audiences and Collection5 ond Curotor5hip. and are
supported by four further aims. Below is a summary of each aim.
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
2 CORE AIMS TO SUPPORT OUR MISSION:
Buildlng pride In Wycombe by uslng our herltage to understand the
stories of ourpeople and communities
En9aglngOur
Au
Collectlons and
Underpinned by 4
supportin8 aims..
Robust and
effective
Sustalnable
and stable
ANANCES
Efflcient &
strate8lC
OPERATIONS
Clear and
en8a8ln8
COMMS
Engoging Our Audiences
Reflecting Wycombe's diverse people stories.. we will understand and reflect the wide cultural
and socio-economic diversity of Wycombe's people and communities in our activitie5 and
engagement- strengthening community cohesion, placemaking and wellbeing
Putting our collection at the heart of our engagement.. we will interpret our collection through
multiple modes of engagement including exhibitions, talks, workshops, schools and family
engagement. online, and in replying to enquiries.
Becoming a valued cultural partner.. we will build strong, mutually beneficial, collaborative
partnerships with relevant local organisations that embed us more deeply within Wycombe's
cultural and social networks
Collection5 and Curutorship
A well-managed, accessible and relevant collection.. our collection will be well cared for and
managed to the museum accreditation standard. We will ensure that this collection is
acce55ible, valued by and interpreted in ways which have relevant connections for our
audiences
A focus on Wycombe'5 chair and furniture making heritage.. we will be especially known for our
stories surrounding the people and communities of the chair and furniture-making industry of
Wycombe and the wider Chiltern5 & Thames Valley
To accomplish our two Strategic Aims successfully, it is imperative that the Trust operates in a
sustainable and stable manner. Consequently. we have identified four essential supporting aims that
must be effectively implemented to fulfil our Mission-
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Wycombe Heritage and Art5 Trust
Year ended 31 March 2024
Governonce
We will have effective governance and leadership structures which are regularly reviewed, alongside a
collaborative culture which uses Trustee expertise to support staff, fostering strong relationships within
the organisation.
Finonciol Sustainability
We will secure long-term financial stability, including a suitable long-term core funding agreement with
Buckinghamshire Council and active diversification of our income streams- supported by accurate,
nsightful and timely financial reporting.
Operotions
We will create safe, welcoming, and well-designed spaces for our audiences to experience, while
considering environmental sustainability in all our activitie5.
Communicotions
Our diverse audiences will be aware of the Museum and understand who we are and what we offer on-
site, off-site, and online. They will be actively engaged with our institution, fostering a sense of
connection and participation in its Mission.
Athievements and Performance
Wycombe Museurn continued its commitment to local people, our communities and providing
accessible and meaningful opportunities to engage with local heritage and culture during 2023-24.
Partnerships with varied organisations remain crucial to delivering a wide-ranging programme and
reach diverse audiences. The Trustees would like to thank all the organisations that have supported the
Trust during the year.
During the financial year, the Museum has welcomed over 50,000 visitors and estimate5 a total off-slte
engagement (through website visits, talks and other partnership engagement) of over 100,000.
Our exhibitions: these are our opportunity to showcase more of our collections, create local
partnerships to tell local storie5 and uncover new fascinating histories from the area.
Major exhibitions were..
Our Place- an exhibition about place, exploring how our collection is rooted in the local
landscape, the intriguing history of the house before it was a museum, and the different
families that lived here.
o Hidden Hands- A Chalk, Cherries and Chairs funded a collaboration with the
Woodlanders volunteer team and Buckingharn5hire New University using new research
to uncover the women's stories of work in local villages, alongside a series of talks and
workshops including lace-making and 5traw-pl3iting with local makers.
Community exhibitions hove featured..
John Hampden, local landowner and Member of Parliament. He opposed King Charle51,
fought in the Civil Wars, and died for his caijse. In partnership with the John Hampden
Society and Battlefields Trust, featuring 17th century armour and weaponry on loan.
o The Orpheu5 Choir- exploring their history from a Methodist Chapel in 1923 through
World Wars, national tours and trophy wins to celebrate their centenary year.
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Wycombe Museum at 90- a joint pop-up exhibition at Wycombe Museum and High
Wycombe Library
Permanent Installations..
Our Blue Chair panel was installed in the sensory garden. It was funded by The Art5
Society as part of the Take One Picture, National Gallery initiative to get more kid5 into
rt.
Our partnerships and funded projects: as a local museum, our partnerships allow us to connect better
with local people and co-create projects, exhibitions and events for our communities.
Ch(Jlk, Cherries and Chairs.- the Museum has continued to work closely on this with the Chilterns
Landscape Partnership. Activities funded included..
o Hidden Honds exhibition la5 above)
o The Chair FestlV21- during the year, preparations took place for The Chair Festival in
Wycombe, which began with the exhibition The Art of the Choir opening in March. Our
first step was a multi-partner meeting welcoming over 25 potential partners, including 8
chair manufacturers. The Chair Festivol continues into the summer of 2024.
Opportunity Bucks.. we began to work closely with this local project. The Museum is one of the
few greenspaces located in Terriers and Amersham Hill, one of io Bucks wards where people
experience the most hardship. The Museum partnered with Opportunity Bucks, looking at how
we can support local people to engage and spend time in our green space.
Buckinghamshire Culture.- we became signatorie5 to the Bucks-wide Inclusion ond Access
Monifesto. We also were part of a Social Prescribing pilot working with Music Noture Create, a
music therapy organisation. ond took part in the Open World Fair, Buckinghamshire-wide
culture weekend.
Other partnerships.. we are developing our relationship with other local organisations
particularly Buckinghamshire New University, re their relaurTrched Chair Course: and others re
the railway station and bridges. We have also been working with local community groups to
h05t them at the Museum, hold specific events and ensure our premises are accessible to all.
This included Wycombe Refugee Forum, Wycombe Multicultural Organisation and Dosti Lodies.
In June we held a Windrush ot 75 celebration for local elders.
Our Collections: the Collection5 at Wycombe Museum are at the heart of everything we do,. our goal is
to make them more accessible for all I
Stores.. we have worked hard on the plans to rnove our stored collections from poor
environmental conditions to a newly built open store so that more people can see our
remarkable chair collection. We moved 70% to a temporary space for drying and have begun
the process of auditing and cleaning all items. This work wa5 funded by The Heart of Bucks
General Fund.
Acqui51tions: we accepted one offer Inot yet accessioned) during the year of two caned seated
chairs attributed to samuel Treacher, one of Wycombe's first 19, century furniture
manufacturers.
Enquiries.. we received 119 enquiries during the year. These ranged from researchers on artists
represented in our art collection, identification of Windsor chairs, information about local
furniture manufacturers and photo collection enquirie5. Unusual or notable enquiries included
the purchase of photograph5 of our mayoral drums from a USA researcher on military history
and an enquiry if the Beatles ever played in West Wycombel
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Learning programme:
We welcomed over 1,000 school children to the Museum for learning sessions, of which 25%
came from local priority wards. Our Explore15essions for home educated children continued to
be popular and serve a new segment of local youth. We also developed new CPD material for
Primary School teachers on delivering local history stories.
Informal learning sessions throughout the year included our toddlers, Tiny T(71k fime and Forest
School,. Discover ond Moke, featuring stories and craft session5 for primary-aged children- and
days out for the whole family.
Events:
5,300 people took part in our events programmes, including 36 workshops for 2-5-year-olds, 31
workshops for 4-12-year-olds, 12 adult workshops, 6 family days and 20 other adult events.
About 20% of our event visitors were from priority ward5.
The Museum aims to deliver a range of engaging and enjoyable sessions. Highlights were-.
our signature Discover ond Make events for primary-aged children including a trail to
investigate our collections and a craft event and Bees l in partnership with High
Wycombe beekeepers and straw plaiting and lace-making to tie in with our exhibition
and an archaeology dig.
o Family Fun days including two featuring the Chiltern Rangers, exploring wood in the
Chilterns from chair-making to charcoal and corn-milling.
events celebrating the Coronation of King Charles111 and Queen Camilla in May 2023,
funded by the local Community Board. including a picnic for 150 people and special
event forthe Wycombe Refugee Forum.
The Museum hosted various performances within its grounds, including-.
o Shakespeare by Unbound, an award-winning story telling company.
o Sour Cherry Soup, a one-woman show telling the story of the changing landscapes and
populations of the Chilterns Isupported by Cholk, Cherries (Jnd Choirs).
a contemporary dance performance by Sign Dance Collective
Seoson(Jl event5.' we also held a spooky Halloween looking for local ghosts and a Tudor
Christmas themed family day. The Museum again partnered with One Ct7n Trust to provide free
tickets to local familie5 in need for school holiday events.
These successe5 could not have been achieved without the hard work and efforts of Staff and
Volunteer5, and our Trustee5 thank and congratulate them all for their stalwart support and enthusiasm
making it possible for the Trust to survive and thrive.
Financial Review
The Trust's principal source of income remain5 the grant from Buckinghamshire Council, along with the
lease for the Castle Hill site. During 2023124, the Trust received £150,000.
Grant income rose from £28,018 in 2022123 to £46,068 in 2023124, with the majority of grants
restricted for specific purpose5. During 2023124. the Trust worked with a number of partners to deliver
ronge of events and exhibitions, continuing to receive the majority of grant funding through restricted
P3ge16

Wycombe Heritage and Arts Trust
Year ended 31 March 2024
funds. In particular the Museum continued to work closely with Cholk, Cherries ond Choirs.. o Chiltern5
LondscDpe Purtnership, which celebrates the Chilterns landscapes.
Trading income remained broadly steady at £54,63812022123 £56,745), as visitor numbers recover after
the COVID-19 pandemic.
The Trust generated a small surplu5 of £856 over the year12022123 deficit of £1,801). The unrestricted
deficit for the year was £530. bringing unrestricted funds to £110,302 at 31 March 2024, while
restricted funds stood at £10,997. Total funds at the year-end stood at £121,29912022124 £120,443).
The Future
This has been a great year for Wycombe Museum - cementing new partnerships post-COVID, finding it5
place within the local area and working closely with local communities. The focus for the coming year
remains delivering the goals of the Strategic Plan, in order to continue to deliver our Mission. Our main
area of work will be on the chair collection, both in terms of progressing the stores move to make more
of our chairs accessible and through our Chair Festival - building exhibitions, partnerships and events
about chairs.
Our annual grant from Buckinghamshire Council has been reduced to £125,000 p.a. for 2024-25 and we
agreed another year, 2025-26, at this level in September 2024. Buckinghamshire Council has committed
in principle to a longer-term partnership with the Museum and WHAT'S Board of Trustees remain5
grateful to the Council for their ongoing support. A five-year busine55 plan has been developed with the
support of external consultants, incorporating a fundraising programme consisting of targeted grant
funding applications, relaunching the museum supporter scheme and plans to develop corporate
support.
Public benefit
The Trustees confirm that they have complied with rheir duty in section 17 of the Charities Act 2011 to
have due regard to the public benefit guide published by the Charity Commission in delivering the
activitie5 undertaken by the Charity.
The Trustees continue to keep in mind the Charity Commission's guidance on public benefit, and look
to provide a variety of events and activities at the Museum, to encourage vi51tors to explore the
Museum and ground5 and beyond. Alongside this, the Museum runs an education programme to
engage local schools with Wycombe history, and provides an outlet for learning through voltJnteering,
plus the benefits associated with volunteering in general.
Reserves Policy
It is the policy of the Wycombe Heritage and Arts Trust that unrestricted funds which have not been
designated for a specific use should be maintained at 3 level equivalent to between three and six
months, expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a
significant drop in funding, they will be able to continue the current activities while consideration is
P3Ee17

Wycombe Heritage and Arts Trust
Year ended 31 March 2024
given to ways in which additional funds may be raised. Thi5 level of rese￿eS was held at the end of
Mèrch 2024.
Risks and untertainties
The Trustees have evaluated the major risks to which the Trust is exposed and these are considered to
be related to financial uncertainty.
Current yeor solvency
The current year results have added to the unrestricted reserve5 of the Trust, sufficient to ensure the
Musellm can continue to deliver the Trust's objective5 into the coming year.
Actual results are monitored against current forecast on a monthly b2S15 as part of the management
accounting reporting process to ensure any negative variances are measured and appropriate remedial
actions implemented.
Medium-term 501venry
Buckinghamshire Council has extended the funding arrangements initially in place with Wycombe
District Council, with funding levels agreed up until March 2026, while Buckinghamshire Council has
committed to a longer-term partnership with the Museum.
Structure, Governante & Management
Wycombe Heritage and Arts Trust is a company lirnited by guarantee, incorporated on 20 November
2013 and was registered in England and Wale5 on 24 January 2014. In the event of the company being
wound up, Trustees are each required to contribute an amount not exceeding £10.
Recruitment and Appointment of Board of Dirertors
The directors are also Trustees of the charity. They are appointed for a four-year term and may be
reappointed. There is a maximum of 11 Trustees.
Since the Trust's creation all new Trustees have been appointed by the Board following advert15ement,
application and an open recruitment process.
Statement of Tru5tees' responsibilities
The Trustees, who are also the directors of Wycombe Heritage and Arts Trust for the purpose of
company law, are responsible for preparing the Trustees, Report and the financial statement5 in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financial year which give a
true and fair view of the state of affair5 of the Trust and of the incoming resource5 and application of
resource5, including the incorne and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently,.
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent,. and
prepare the accounts on the going concern ba515 unless it is inappropriate to presume that the
Trust will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the Trust and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets
of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Calculo Tax Audit Limited of 29-31 Castle Street, High Wycombe, Buckinghamshire, HP13 6RU were
appointed as the Trust's accountants.
The Trustees, report was approved by the Board of Trustees on 21 November 2024.
Stephen Mills, Chair
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WHAI
Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Independent Examiners Report
I report to the trustees on rny examination of the accounts of the Wycombe Heritage and Arts Trust for
the year ended 31 March 2024 which are set out on pages 11 to 19.
Responsibilities and basis of report
As the Trustees of the Wycombe Heritage and Arts Trust land a150 the directors of the company for the
purposes of charity lawl, you are responsible for the preparation of the accounts in accordance with the
requirements of the Companie5 Act 20061"the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited for this year
under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your charity's accounts as carried out under section 145 of the Charitie5 Act 20111.the
2011 Act"). In carrying out my examination, I have followed all the applicable Directions given by the
Charity Commission (under section 14515llbl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect..
accounting records were not kept in accordance with section 386 of the 2006 Act.. or
2. the financial statement5 do not accord with those records.. or
the financial statements do not comply with the accounting requirements of section 396 of the
2006 Act 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,. or
the financial statements have not been prepared in accordance with the methods and principles
of the Statement of Recommended Practice for accounting and reporting by charities applicable
to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come across no other matters in connection with the examination to which
atterltion Should be drawn in order to enable a proper understanding of the accounts to be reached.
Jonathan Walton FCA FCCA
Chartered Accountant
Calculo Tax Audit Limited
29-31 Castle Street. High Wycombe, Buck5, H P13 6RU
Date
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Statement of Financial Activities
Forthe year ended 31 March 2024
Unrestricted Restricted
funds
funds
Total
2024
Total
2023
Note
Income
Donations ond gronts
Donations and grants
Buckinghamshire Council grant
2,525
150.000
45,543
48.068
150,000
28,018
150,000
Incomefrom charitable octivities
Operation as a museum
Learning activities
1.072
4,525
1,072
4,525
890
3,146
Incomefrom other troding octivities
Ancillary trading activities
Friend5 membership
54,638
576
54,638
576
56,745
687
Total Income
213,336
45,543
258,879
239,486
Expenditure
Huisingfunds
Ancillary trading activities
39,109
39,109
38,074
Expenditure on chorit(Jble t7ctivities
Operation as a museum
174,757
44,157
218.914
203,213
213.866
44.157
258,023
241,287
Net income /{outgoingsJ
15301
1,386
856
11.8011
Transfers between funds
Net movement infund5
15301
1,386
856
11,8011
Total funds brought forward
110,832
9,611
120.443
122,244
Total funds carried forward
110,302
10,997
121,299
120,443
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Balance Sheet
As at 31 March 2024
Note
2024
2023
Fixed assets
Tangible assets
12,641
19,077
Current assets
Stocks
Debtors
Cash at bank and ￿n hand
4.119
10.197
100,066
114.382
728
7,656
103,773
112,157
Liabilities
Creditors-. amounts falling due within one year
Net current assets
{5.7241
108,658
110,7911
101.366
Total net assets
121.299
120,443
The funds of the tharity
Restricted funds
Unrestricted funds
Designated funds
io
li
10,997
110,302
9,611
110,832
12
121.299
120.443
The company is entitled to the exemption from the audit requirement contained in section 477 of
Companies Act 2006 for the year ended 31 March 2024. No member ofthe company has deposlted a
notice, pursuant to section 476, requiring an audit of these accounts.
The Trustee5 are responsible for ensuring that the charity keeps accounting records which comply with
section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs
of the company as at the end of the financial year. They are also responsible for its incoming resource5
and the application of these resources. including its income and expenditure, for the financial year in
accordance with the requirements of sections 394 and 395, and which otherwise cornply with the
requirement of the Companies Act 2006 relating to the accounts. so far as applicable to the companv.
The accounts have been prepared in accordance with the provisions applicable to companies subject to
the small companies regime.
These accounts we approved by the Trustees on 11 November 2024 and signed on their behalf,.
Stephen Mills, Chalr
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Notes to the financial statements
Charitable company information
Wycombe Heritage and Arts Trust is a private company limited by guarantee incorporated in
England and Wales. The registered office is Wycombe Museum, The Greenway, High
Wycombe, HP13 6PX.
Accounting convention
These accounts have been prepared in accordance with Financial Reporting Standard 102 -
'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland,
I'FRS 102,1, and with the Companies Act 2006, the Charities Act 2011 and follows the
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and the Republic of
Ireland Ithe 'Charities SORP'I. The Trust is a Public Benefit Entity as defined by FRS 102.
The accounts have been prepared on the historical basis except for the modification to a fair
value basis for certain financial instruments as specified in the accounting policies below.
2.1 Going concern
The Trust has agreed a sustainable budget for the next 12 months.
The Trust has determined that it has adequate resovrces to continue in operational existence
for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of
accounting in preparing its accounts.
2.2 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of
their charitable objective5 unless the funds have been designated for other purpose5.
Restricted funds are subject to specific conditions by donors as to how they must be used.
The purposes and use5 of restricted funds are set out in the notes to the account5.
2.3 Income
Income 15 recognised when the Trust 15 legally entitled to it after any performance conditions
have been met, the amounts can be measured reliably, and it is probable that the income will
be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has
been notified of the donation. unless performance conditions require deferral of the amount.
Donations under Gift Aid together with the associated income tax recoveries are credited as
income when the donations are received.
Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending
distribution, the amount is known, and the receipt is expected. If the amount is not known,
the legacy is treated as a contingent a55et.
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Turnover is measured at the fair value of the consideration received or receivable and
represents amounts receivable for good5 and services provided in the normal course of
busine55, net of discounts.
2.4 Expenditure
Liabilities and related expenditure are recognised in full in the accounts as soon as an
obligation arises. Costs of generating funds comprise the costs a550ciated with attracting
voluntary income and the costs of trading for fundraising purposes. Resources expended are
included in the statement of financial activities on the accruals basis inclusive of any VAT
which cannot be reclaimed.
2.5 Tangible a55ets
Tangible fixed assets are measured at cost less accumulated depreciation and anv
accumulated impairment losses. Assets are capitalised where their value is greater than
£1,000.
Depreciation is recognised 50 as to write off the cost or valuation of assets less their
residual values over their useful lives on the following bases..
Office equipment
Plant and machinery
Museum and garden equipment
Website
20% on cost
25% on cost
20% on cost
20QA on cost
2.6 Impairment of fixed assets
At each reporting date fixed assets are reviewed to determine whether there is any indication
that those assets have suffered an impairment loss. If there is an indication of possible
impairment, the recoverable amount of any affected asset 15 estimated and compared with its
carrying amount. If the estimated recoverable amount is lower, the carrying amount 15
reduced to its estimated recoverable amount, and on impairment105s is recognised
immediately in income or expenditure.
If an impairment subsequently reverses, the carrying amount of the asset is increased to
the revised estimate of the recoverable amount, but not in excess of the amount that
would have been determined had no impairment loss been recognised for the asset in
prior years. A reversal of an impairment loss is recognised immediately in income or
expenditure.
2.7 Stotks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after
making due allowance for obsolete and slow-moving iterns.
2.8 Debtors
Short term debtors are measured at transaction price after any trade discount offered, less
any impairment.
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or
sirnilar account.
2.10 Creditors
Short term trade creditors are measured at transaction price. Other financial liabilities,
including bank loans, are measured initially at fair value, net of transaction costs, and are
measured subsequently at amortised cost using the effective interest method.
2.11 Deferred income
Deferred income relates to the grant from Buckinghamshire Council which is received shortly
ahead of the period it relates to.
2.12 Financial instruments
The Trust only h35 financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value.
Crltical accounting estimates and judgements
In the application of the Trust's accounting policies, the Trustees are required to make
judgements, estimates and assumption5 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. Artual
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
Trustees
None of the Tru5tee5 lor any persons connected with them) received any remuneration or
benefits form the Trust during the year.
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Wyrornb¢HeTlia9t•ArtsTn￿¢
Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Analysis of expenditure
Ancillary trading Operation as
activities
a museum
2024
Total
Unrestrirted funds
Direct costs
Su
ort costs
Professional fees
Staff costs
Office costs
Premises costs
11,975
3,266
15,241
1,624
23.410
386
844
14,616
108,089
7,335
16,040
18,546
847
5.037
981
174.757
16.240
131.499
7.721
16,884
18,546
1,412
5.302
1.021
213,866
Publicity and marketing
Insurance
Other costs
565
265
40
39,109
Restricted funds
Direct costs
Staff costs
2024 Totals
16,083
28,074
218,914
16.083
28,074
258,023
39,109
Ancillary Operation as
trading activities
a museum
2023
Total
Unrestrirted tunds
Direct costs
ort costs
Professional fees
Staff costs
Office costs
Premises costs
Utilities
Publicity and marketing
Insurance
Other costs
11,610
2.771
14,381
1,761
22,948
358
783
15,845
102,926
6,793
14,884
16,726
370
6.459
S98
167,372
17,606
125.874
7,151
15,667
16.726
617
6,799
625
205,446
247
340
27
38.074
Restricted fund5
Direct Costs
Staff Costs
2023 Totals
10,423
25,418
203,213
IOA23
25,418
241,287
38.074
Ancillary trading activities represent events and activities, along with retail and catering
services. that are undertaken to.. further the offer,. attract V151tors,' and, provide a valuable
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
resource for the local community. Whilst these costs can be attributed to these activities,
they are also a crucial element for the operation of the museum and art gallery.
Employees
The average monthly number of employees during the year was..
2024
2023
Average monthly number
Full-time equivalent
Tangible fixed as5etS
Office
equipment
Plant &
machinery
Museum
equipment
Website
Total
Cost
At l April 2023
Additions
At 31 March 2024
12,287
11,748
6,968
9,802
40.805
12,287
11,748
6,968
9,802
40,805
Depreciation
At l April 2023
Provided in year
At 31 March 2024
9,483
862
10,345
5,272
2,220
7,492
3,020
1,394
4,414
3,952
1,960
5,913
21.727
6,436
28.164
Net book value
at 31 March 2024
1,942
4,256
2.554
3,889
12.641
Net bookvalue
at 31 March 2023
2,804
6,476
3,948
5,850
19,078
Debtors
2D24
2023
Prepayments and accrued income
Other debtors
10.197
7,656
10,197
7,656
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Wycombe Heritage and Arts Trust
Year ended 31 March 2024
Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals
Deferred income
2.118
3.606
5,724
3,724
7,067
10,791
io
Restricted funds
Opening
funds
01104123
Closing
funds
31103124
Income
Expenses
Tran5fer5
Red Lion fund
Chalk, Cherries and Chairs
Together We 8uild
Coronation day
Story Writing Competition
Bucks Culture funding
Storage project
Rothschild Strategic Fund
Health Check funding
Other funding
325
5,974
278
838
1,688
325
5,192
17,152
396
117,9341
16741
18381
11,6881
12,6001
15,4201
112,5001
11,9951
15081
144.1571
2,600
10,000
12,500
1,995
900
4,580
508
900
9.611
45,543
10,997
Red Lion Fund
Funds received for the ongoing maintenance of the Red Lion in Wycornbe town centre
Chalk Cherries and Chairs
Funds received from Chalk, Cherries and Chairs, a Chilterns Landscape Partnership, which
celebrates the Chilterns landscapes. Projects funded during the year inclucle Hidden Hand5
exhibition - a collaboration with Buckinghamshire New University exploring women's stories
of work in local villages. alongside a series of talks and workshops- a Storywriting competition
with local schools -and the development phase of The Art of the Chair- exploring the art,
design and marketing of chairs and leading into the Chair Festival which runs in summer 2024.
Together We Build-Funds received from Buckinghamshire Culture a5 part of their co-curation
project to remember the 2012 Paralympic5 ten years on. We worked with Buckinghamshire
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WycwnbeH¢rlta9••An%Thirt
Wycombe Heritage and Arts Trust
Year ended 31 March 2024
College Group to put on a small local exhibition and are signatories to the Access and Inclusion
Manifesto.
Coronation Day
Fund5 received from Buckinghamshire County Council to enable the museum to host local
community events to celebrate the coronation of Their Majesties King Charles111 and Queen
Camilla in May 2023. Including partnerships with the Wycombe Refugee Forum and local
guide and scout groups.
Social Prescribing
Funding received from Buck5 Culture to undertake a pilot on Social Prescribing as part of
wider Bucks-based pilot project. At Wycombe Museum we worked with Music Nature Create
to deliver for new parents in the local area.
Storage Project
Funding provided by the Heart of Bucks Community Foundation to support the museum in its
ongoing work to secure suitable and adequate storage for the collection.
Rothschild Strategic Funding
Funding received to support the Museum to carrying out a full strategic review to ensure the
museum remains sustainable into the future.
Organisational Health Check Funding
Funding provided by our local Museum Development Office to review our organisation from
governance perspective
Other funding
This reflects various smaller amounts of restricted funds, all under £1,000.
12
Analysis of net assets between funds
Tangible
fixed assets
Current
liabilities
Current a55etS
Total
Unrestricted funds
Restricted fund5
12,641
103.385
10,997
114,382
15,7241
110,302
10.997
2024 total funds
12,641
15,7241
121,299
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