CAMBRtDGE MUSEUM OF TECFfNoL(y TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024
CAMBRIDGE MUSEUM OF TECHNOLOGY FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 coKrEWfS.. PAGE.. Company Inforatioll Tn]stees' Report Independent EXaill&S Rep)rt Statemellt of Financia] ActiviiT¢5 Balanc¢ Sh¢d Statement of Casb Flows Notss to the Finaneial Statemet 10- 17
CAMBRIDGE MUSEUM OF TECHNOLOGY PAGE I FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 COMPANY INFORMATION: CURRENT TRUSTEES.. John Adrian Sheppard John Kenneth Liltle (resigned 30111123) Michael Howard Blackburn (resign¢d 3011 Ir23) Lucy Thompson Laurd Carnicero Richard Frank Mitchell (resied 07103r24) Nick Plaist¢r Steven Kruse A[e French Kieran Gleave (appointed 10103124) Amy Hooker (appointed 12103r24) Matthew Sarkar (appointed 02,'05r24) Bhagwat Nagargoje {apwbinted 02105124) Wah Sung Vinceni Mak (appointed 17107124} Treurer Chair CHARITY REGISTRATION NUMBER.. 1156685 COMPANY NUMBER: CE0931 REGISTERED OFFICE: The Old Pumping Ststion Cheddars Lane Calnbridgc Cambridgeshire CB5 8LD INDEPENDENT EXAMINER: lan W Shipley FCCA For and on behalf of Prentis & Co LLP Clwlered Accountsnts 115c MÈlton Road Cambridge CB4 IXE BANKERS.. CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Keni ME194JQ Barclays Bank UK PIC (Cambridge Brdnch) l£icester Leicestershire LE87 2BB
CAMBRIDGE MUSEUM OF TECHNOLOGY PAGE2 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 TRUSTEES, REPORT The Trustees present their annual rert and financial statements for the year ended 3 1st March 2024. The financial statements comply with thc Charities Act 2011, and Reporting by Charitie5'. Ststernent of R¢comm¢nded Prdclice applicable to charities prcparing their accounts in accordance with the Financial RertIng Standard applicable in the UK and Republic of Ireland (FRS 102} issued Ociob¢r 2019 (¢ff¢ctiv¢ 1st January 2019). STRUCTURE, GOVERNANCE AND OBJEC"I"IVES The Museum's charitable putp)ses are to advance education in s¢i¢nce, lechnology and industrial heritage thr()ugh the development of a museum of tfxhnology for the benefit ofthe public. The Museum's Tntstees adopted the following mission: To preserve and demonstrate the industrial and t£Chnologi1 heritage of Cambridge forthe inspirniion. enjo)rynent and cducation of all. It seeks to achieve its charitsble objec(ives by uThlertaking the following activities.. Collecting and preservÉng objects and stories relating to the industria] heritage of Cambridge. Preserving the Museum's historic indu5trixl slte, building and aslated machinery. Displayin& intery)reting and demonstrating the collections. the historic site, building and machinery, plus assoCiad siories for everyone to enjoy. explore and Ivdtn from. Operdiing ih¢ ¢oll¢ctions whcr¢ practicabl¢. Overcoming as many physical, intellects1 and financial barriers &% N)ssible to provide the widest possible a¢ces3 to all of our buildings. collections and facilities. Marketing the Museum to appeal to a broad rdnge of target audiences. Developing the Museum a5 a friendly and hiJ qualKty centrc and resource for the local cornmunity. D¢v¢loping, training and SUPWpning ihe volunteer5 who help rnn the Mu5eutn. Providing a wel¢oTning and enjoyable exlence for visitors. Delivering a dyjatnic prowo me for formal education and inforn)a] Icarning groups to discover CaTnbridge's industrial and technological heritsge and related STEM¥ subjeets_ (*S¢ience. Technology, F.ngineersn& Mathematics.) The Museum is by a Board of TnteeS which meets bi-monthly. The day-ttrday running of the Museum i5 d¢lcgated to a Managemeni Committee which meets monthly. The Museum is Constituted as a Charitsble Tnwyorated Organisation. in¢olrated in 2014 under a standard Tnembership CIO (Deed). No extemal bodies att allowed to apwini Tntstees. Under tho tonstitution, new Trustees Tnay be 8pryTrinted by the membership at a gen¢rnl mccting of members, or at a Board of Trustees meeting. New Trus(ees ore provided with an iniiial indu¢¢ion into the activities of the charity by fellow Trustces. Th¢y a150 provided with dWntnts such as th¢ Tn1¢¢ Ik¢d and lat¢sl accounts. Tte¢S at the lim¢ of approval of thi5 report: - John Sheppard - %teven tQrnse - Lu¢y Thompson - Laura CaTni¢ero - Anne French Nick Plaister - Kieran Gleave - Amy Hooker - Matthew Sarkar - Bhagwa( Nagargoje - Wah Sung Vincent Mak Other Trustee5 who served during the financial year= John K l.ittle. Michael H Blackburn and Richard F Mitchell.
CAMBRIDGE MUSEUM OF TECHNoLy PAGE 3 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST FAARCH 2024 TRUSTEES, REPORT eontitiued PUBLIC BENEFIT STATEMENT The Te¢S of the Cambridge Museum of ThnologY (CMD are committed to enswÈng that all activities are plaT]lled aTrd overseen with th¢ public benefit in min¢ following the Ch8My ComJnissi0ri5 guidaD¢¢. CMT strtves to enrich the Iwal C[tilty by preserving herilage. PToviding acces5 to the history of ttt]]]I08y, fostering educatio11 progrdms, and ¢ncournging engageTDeDt with the museum% Collectio. ACHIEVEMENTS AND PERFORMANCE During the 2023-24 filM(la] yeat, the Cambridge Museum ofTecFJnology (CKD experienced significant 8T0 across Tnultiple fronts. CMT expanded its operatio5 to three days a weeL beyond just weekends, with plans to filltber llicrease hours b&d oll visitor demand durin8 sch} and bank holiday5. Summer 2023 marked 4 llotsble inCre in ticket sale& driven by favourabk w¢ather aDd successful evcnts. Onc highlight was th¢ Fo]k Day in Juty, which attracted about 3CN) musie enthusiasts and generated a remarkable profit in a single day. This event provided valuable insights tnto the typ¢s of progran]miDg CMT ain]s to contlnue delivering. Over1, visitor numbers ID August 2023 surged by 36Yo compared the prewous year. The MY&geellt CornTnittee remained dedicated to hosting a divcrse array of events wbile optimisiDg revenue durtllg the off-peak winter season. succSsJl Steam Days w¢r¢ held in October and December 2023, cu]minatin8 in a record number of visitor5 duTillS the March 2024 Steam Weekend. Enhaneernents th the Prtnt Sbop improved the accessibility of the collection. CMTS dedicated Volunteers, Site Team exceued in eDhan¢ing facilities 1 utteTactsve exhibits across the muse site. By th¢ end of 2023, CMT welcomed 7,239 visitor5, a testament to cKfs releva and impact within th¢ ¢0nity. For the upcoming calendar yeaT, CMT ain to exceed 7250 visitors. Following the retirement of three trustees, two new member5 were app)inted to the B03Td iti March 2024. The recruitment of a n¢w Director of the Board and Treaswer is ongoin& wtth Trustee Ms Arne FreD¢h serving &8 interim chairperson. Cmfs Front-of-House Manager and Athninistrator continue w 5UPPOrt Oational need5 effi¢iently. The P051tive outcome from the NatioDal Lottery Heritage Fwjd (NLHF) grant applition will enable to recruit twg new 5tsff meJnb¢r3, enbancing CMTS Caplty to generatr income and expand educatlonal offeriD8s whil¢ strengthening ties with local cOMU1tie5. All staff are employed on & part tun¢ basis. Adjustm¢nts to loan repayilleDts with the AHF were approve4 allowing to better align income and expenditure. A revised business resilience Pla completed by the Chair of Tntee5 ahtsd of retiretit in Novernber 2023. PTojects a over th will ellable larger repaYellts on the AHF loan slJrtin8 in SpTiD8 2024. While CMT ]Jas made progress in rebuilding reserv¢5, tbe MeuM fatts upcoming endItUreS, particularly for platming application fe¢s related to developments at the Engill¢¢rfs House sit¢. This PTOjKt has significant illjplications for Cmfs futtjre Income Streams. WhCh are nece&sary for repaying the AHF lopm, as well as for loE)g.teEms acellts with cateriDg partners. The Catering Subconrnitttt continues to eD¢ow8ge wÉth pwthers to ebaThce offerings and address s0tl demand fluctuations. ensuring qualty service for museum visitors the I( COTDmUDity. FUTURE PLANS In the upcoming year, the Board Tnust appoint a new Director of th¢ Board of Tntrs and a Treasurer. CMT will also recrnit an Enterpris¢ Mallager and Education OfficeT fimded by the N*ional IATrttery Heritage Fund INLHF) for two years. The expanded Éeam is expected to dn.ve SIlf1¢an1 developments. delivertng a sustainable inc07D¢ generation strategy. Thett is also NLHF fvnding Teservcd for the red¢)ratIon of the fu5t tloor of the En8ineefs House.
CAmBRI[E MUSEUM OF TECHNoUv PAGE 4 FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 TRUSTEES. REPORT continued The review of the Cmfs collediou is portially complete. however. additional staffing is needed to complete the proje¢L A funding application h&s been sublnitted to the Foyle Foundation to recruit a Collections Offieer for 15 months, faeilitsting resouw¢ allocation for partnership projects and tempordry exhibition5- like last yes success] col]atJration with the Pye History T1 during the BBC Centenary. The pla[lg application for the Engineer's House site was approved, with construdion t¢ntatively scheduled for the pcomiDg winter. This project will include essential access irnproveellts. attd Trustees att PW¢SSiDg additional funding applicatiODS to support this developTnenL A new t¢POrary exhibiti¢)o- Wbat H4ppens Nex( is set to open to the public in the Pye Building. This exhibition will explore the period from 1967 the present day. PlaDning for ¢veDts in suturner 2024 is derWay. with a tllix of commcrcial attd community-OTi¢nted IDitve5 in the pip¢lu]e. 15 collabordtiDg with the Ial charity Ably People to IM)st a Repair Café, which will be freely available to everyone. CMT 1[ also host a Folk Dtty to showease local performers for a second yeor. The Print Team is preparing an exhibition in the Pumping Station, inviting submissions from any iDtere5ted Yolunteers. AdditiOEMlly, cbKr will participate iu thre¢ pop.up ¢vents as part of SuuJJner at the Museums ÈD wllaErfJrdtion with the UDiveTsity of Cambridge Mus¢urns. In the long¢r tern4 CNff will need to raise approximately £1.5 million in capitd gr to address significant work required on the scheduled monumetLI ensuring its pEeseTvatio FtNANCIAL REVIEW The Trustees consider the results for the year satisfactory. The Ststement of Financial Activities shows an overall sU]uS of £36.910 (2023.. deficit £31.505) made up of a restricted fimds surplus of £20299 {2023= deficit £26,441), and a SUTplus on unrestrithd fidS of £16,611 {2023: deficit £5,064). The restricted 5wplus is ttpresented OD the balan¢¢ sbeel with the costs of redevelopment of the site Ler fixed assets. RESERVES POLICY The Board of Trustees reviewed the Reserves Policy in 2021 alld concluded that a reserve of £27,5(M) w&8 required allow CMT to contttLue to operate during a period of adverse events Such as Museu]n closure andlor strUth1 problems in the Scheduled Monum¢nt. This level of reserve5 was reached in 2022. Since then our rerVeS have falle aitbough 2023-24 has seen them stabilise and ¢urrent eondiiions should see them being rebuilt. FtfNDRAISING POLICY The charity does not a£tivety fundrais¢ from the public other thln on its premises. although li is always happy to receive donations. The Tnajoriry of don&ions and grants are sought from public t)dI¢S aud cbatithble organi5atioDs. Th¢ charity monit015 all Fundraising carried OUL It CODfomis to reCOlS¢d 5taDdards and has Dot received any COTnplaints. As the Charity does not openly solicit funds from the generdt public it i5 ulllÈkety to receive donations frotn vulllerable pe4)ple. but it is aware of its obligations. RtSK MANAGEMENr The Tnstres maintaia a risk register dwing the reporttng The Tntstr&q have a(k>pted and regularly review the followlljg poli¢ies al pn)cedurts.' Collections Development Policy. Children and Vulnerdble Adult Protection Policy. Equal OppoTtunities Policy. Health and Safety Policy, EnYiroDmentsE Stainab]lIty Policy. Keserves Policy. Dafa Protection Policy. Financial Regulations. VoluTJte¢riDg Policy. Infornlation MallagemeDt Poltcy. Events Policy, Cop)Tight Policy. Access Policy, Collection Care and COnSVali0 Policy, Documeniation Policy, Cowlaints Policy athd TtLL8tee Eligibility. REMtfNERATION POLICY The Trustees consider themselves key management and ar¢ not Temuneratr Staff pay is d¢ternJilled by th¢ Trustee4 infonned by comparison to salartes within the sector and location.
CAMBiUDGE MUSEUM OF TECHNOLOGY PAGE 5 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES, REPORT collttuuI RESPONSIBILITIES OF THE BOARD OF TRUSTEES The cbarity Trustees arc TE5pousible for prepar8 a Trustees, report and fmancial statements ill COrdanCe with applicable law and Ullited Ksllgdom AccoulltiDg Stalar&s (United KingdLYn Genernlly Accepted Accountiug Practice). Charity law requires the charity Tr prep&e the finawial ststemeDts for eacb yw which give a In fair view of the stste of affairs of the charity aTMI of the illCOTlliDg rewuw and application of resoytw includingthe iorne and ex)ditre for that p¢T]l prepaTuig th¢ fjDaDCi sTrtrmert%. the TnLQees are T&wir&l to: ' select suitsble A¢utIng polici¢s then apply them c(Mtsi•' ' observe the methods and prtnciples tn the Cbarili¢5 SOBP" ' make jLtdg¢meDts aDd estim*e$ are Teasotthle and prnden¢ ' slai¢ Wh¢th appli¢able UK ac¢ouutiDg stardarth have been followtd subj¢¢t lo any material depart$ disclrysd sud explait1 in the fjJJan¢ial staten ' prepaTe the financial statements on the going Concern basis u18 ti 18 intippropriate So presutne thatthe charity will ntinue in busin$. The TnCeS are responsiTr•le for ke¢ptng properxcowkting TEcor&% that disclose with relnable accry at any tirne the financial position of the charity and to enable them to ensure that the fmauria] Statern¢ compty with the CbaTitie$ Act 2011. TFW are atso respoosible for safrguarding the of the charity aod boic¢laking r¢asonabl¢ steps foT the preyentioo and Iktecti¢)n of fraud aDd Oth irreguiariiies. This report approved by the on NJ and si8ned on their behalf. by.. WAH SUNG VINCENT MAK CHAIR OF TRUSTEES
CAMBRIDGE MUSEUM OF TECHNOLOGY PAGE 6 FINANCIAL STATEMENfs FOR THE YEAR ENDED 3 1ST MARCH 2024 INDEPENDE[ EXAMfNERS' REPORT TO THE TRUSTEES OF cAMBR[E MUSEUM OF TECFfNOLOGY I report to the Trustee5 on my examIon of the accounts of Cauthrid8e Mw5¢um of Technology ChArit&ble lllcorporated Organisation (Ihe Cl(Y) forthe year ended 31 Marth 2024. RESPONSIBILITIES AND BASIS OF REPORT As the tn]5tees of the CIO you are responsible for the prep8ialion of the accounts in accorthce with requircmellts of the Cl)arities Act 2011 Cth¢ Act,). I report in r¢sp¢¢i of my examination of the CIO'S accoullts carried out under section 145 of the 2011 Act and in carrying out my exaznination I hav¢ followed all the applicable Directions given by the Cl)atity Con)mission undei section 145(5)(b) of th¢ Act. INDEPBNDEKf EXAMINERS, STATEMENr I have completed tny exatnination. l ¢onftrm that no tnat¢rial mttus bave ¢ome to my attention in connection with the ¢xaminalion giving me caus¢ believe that in any mat¢rial respect (l) accountniE record5 were not kept Tequired by st10 130 of the A or (2) the accounts do not ac¢ord with those records. or (3) the accounts do TEOt comply with the appli(xble requiren)eDts concum1 th¢ forn) and content of accounts set out in the Chartties {A¢counts and Report5) Regulations 2008 other than aDy requiment that the accounts give a and fair view wbich is not a matter CODsidered &% part of independent examllwion. I hav¢ no conc¢nJs and have come rOsS no other tter$ Èn CODnectton with the examination to which attention sbould be thawi) Én this report in order to enable a prop¢r LdeTsndIng of the accounts to be reached. IAN W SHtPLEY FCCA FOR AND ON BEHALF OF PRENTIS & CO LLP CHARTERED AcCoUrANTs & INDEPENDEWt EXAMINERS 115c Mihon Road Cambridge CB4 IXE
CAMBRIDGE MUSEUM OF TECHNoLy PAGE 7 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 STATEMENT OF FfNANCIAL AcrivrtIES Ullrestricted Restricted Totsl Funds Funds Fullds CURRENT YEAR No 2024 rNCOME FROM: Charitable activities Grants and donations Investment incoEDe 120.624 5.020 342 120,624 58,786 342 53,766 TOTAL tNCOME 125,986 53.766 179.752 EXPENDITURE ON: Charitrble activiti¢s Rai5in8 fiwds TOTAL EXPENDITUPE 105.642 3.733 33.407 60 139,049 3,793 109.375 33.467 142,842 NET MOVEMENT IN FUNDS FOR THE YEAR 16.611 20.299 36.910 RECONCILIATION OF FUNDS Tot81 Funds at 1st April 2023 Total Funds at 3 1st March 2024 30,004 1.423.309 1.453.313 46,615 1,443,608 1,490,223 PRIOR YEAR Restated UDT¢StriCted Re5tri¢t¢d Totrdl Funds Funds Fullds 2023 Notes tNCOME FROM.. Charitable activities Grants and donati0Th5 InvesDneni income 104,763 3.658 104,763 10,418 140 6.820 TOTAL tNCOME 108,561 6,820 115,381 EXPENDtTURE ON.. Chartthbl¢ activities Raising fimds TOTAL EXPENDITURE 109.397 4,228 113,625 33.261 l42,658 4,228 33,261 146,886 NET MOVEMEKf IN FUNDS FOR THE YEAR (5.064) (26.441) (31,505) RECONCILIATION OF FUNDS Total Funds at 1st April 2022 Totsl Futlds at 3 1st March 2023 35,068 30,004 1,449.750 1.484.818 1.423,309 1.453,313 The Statement of Financial Activities IDclUd all gatijs and losses T0gt)I%ed in periods. All ÉllCOD)e and expenditure deriv¢ from contilluillg activi¢i¢s. The notes on pages 10 to 17 forni part of these financial Staternts
CAMBR[IE MUSEUM OF TECHNO¥ PAGE 8 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31 sr MARCH 2024 BALANCE SHEEr 2024 2023 FIXED ASSETS Tawlyle assets TOTAL FIXED ASSETS 10 1,541,088 1.563.914 1.541,088 1.563.914 CURRENT ASSETS Stock Debtors Cash at baDk 150 13.212 58,358 150 6.154 21,609 TOTAL CUR[ ASSErs 71.720 27,913 CREDrroRS'. Amounts fal]iDg due within on¢ y¢pr 12 {62.184) (73,324) NET CURRENT ASSETS 9,536 {45,411) TOTAL ASSETS LESS CURJiENT LIABILITIES 1.550.624 1.518.503 CREDrroRS.. Amounts falling due after more thalt (Kje yeaT 13 (60,401) 1.490223 (65.ISY)) 1.453,313 NET ASSETS THE FLfNDS OF THE CHARITY Restricttd fvt unrestr1cd ffiJt]ds 1.443,608 46.615 1.423,309 30,004 1,453,313 14 1.490223 These fiDaucial ststements Thtre approved by thc B(wd ofTT¥JSte¢5 and allthorid for issue on .... ..... ......................... and were signed on th¢ir b¢ha]f by." BHAGWAT NAGARGOJE TRUSTEE The ThOte5 OD Pag 10 to 17 fom part of these than¢ial statellThts.
CAMBRIDGE MUSEUM OF TECHNoLy PAGE 9 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENf OF CASH FLOWS Note 2024 2023 CASH PROVIDEDI(USED IN) BY OPERATING ACTIVITIES 18 48,565 (27,460) CASH FLOWS FROM fNVESTNG ACTIVITIES Bak interest Purchpse of fixed assets 342 (12.158) (11.816) 140 NET CASH USED tN tNVESTtNG ACTIVITIES 140 CHANGE N CASH DURtNG THE YEAR TOTAL CASH AT THE BEGN[NG OF THE YEAR 36,749 21.609 (27,320) 48,929 TOTAL CASH AT THE END OF THE YEAR 58,358 21,609
cAMBlUB MUSEUM OF TECHNOL(y PAGE 10 FfNANCIAL STATEms FOR THE YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FtNANCIAL STATEMENrs GENERAL INFORMATION The charity is a public benefii elltiry and is a registrred cljarity tn Ell and Wales and is incorporated. The address of the priticiple office is The Old Pwnping Station. Chpjjd5 Lome. Cambridg¢, CaTllbTidgeshiTe, CB5 8LD. STATEMENf OF COMPLIANCE These financial statements haye been prepard in ¢ompliaDce with FRS 102.'The Financial Reporting Standard applicable th¢ UK and the Republi¢ of Irelalld. the Statement of RQmMended Pra¢ti¢¢ applicable to charities preparitig their accounts in accordallce with the Financial Reporting Standard appli¢able in the UK and Republic of Irelalld {FRS 102) {Chartties SORP (FRS 102) and the Cbsrities A¢1 2011. AccouKrtNG POLICIFS (a) BASIS OF PREPARATION The financial statements have been prepated on the historical cost basi& a5 Modifi by tbe revaluation of certallj fiD8ncia] assets and liabilitie& including herirage assets. The finallc1 stsiements are preparnl in sterliD& wbich As the fimctional rrenCY of the entity. (b) GOING CONCERN The Tne¢S confident that the Muse4m) will continue as a going concenL A nutnkn of steps have ell taken to reinforce the financia] position of the Museum and so 5UPPOrt our conclusions tll this regard. These steps include., renegotiation of the of fitwicing artangements. e05t redu¢lion m¢8sures and a drive to Intre thTough a greer range of activities the Museum can provide and offers. Additionally a SIlfiCant sector s¢IfiC grnnt has Eeen awarded to the Museum whi¢h will enable the Museurn to maintain currellt activities aThl provide financial resilience for the longer temi. (r) FUND ACCOUN[G UnrestrKted fi$ ar¢ available for u5¢ at the di%retion of the Tnjstees to furtber any of the cbarttys purpose5. D¢s1)ated fitD(ts are unrestri¢ted funds e8mi8Tk¢d by the TnLeeS for particul futh pmject or collllnittnenL Restrict are SUbjted to restri¢tions On their ¢xp¢nditure declarnl by th¢ donor or througb the ternis of an atveal, aud fall into one of two SLdFel&sses: restricted income fi5 or elldowment funds.
CAMBRJDGE [UsEUm OF TECHNOLOGY PAGEII FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FtNANCtAL STATEMENTS (d) INCOMtNG RESOURCES All incomujg resour are inclllded on the Stafrrn¢nt of Financial Activities when entitlement bas ppss¢d to the charity, it is probable that the ecotiolljic bthefits associated with the transartioll will tlow to the cbarity and the aQUIlt ¢aD be reliably ]lleasur¢d. The following specific polÈ¢ies are applied to Particlar categories of income." • incoll froED thmatiI)S or grants is teco8nised WIM there is evid¢n¢¢ of entiÉleTllellt to the gift receipt is probable and its auK)unl be tneasured reliably. . l¢gacy income 15 reco8Di5ed when reccipt is probable and entitlement establishe tncornc froTn donated goods is measured at the fair value of the goods unles5 this is impractical to measure rcliab]y, in which c&se the Wdlue is dertved from the cost to the donor or the ¢sttmated resale value. Donated facilities and services are Tecogni5ed in the accouDts WI1 received if the value caD be Teliably ¢vr¢d. No arnounts are included for th¢ contnllutiou of gthra1 volunteers. ' income from Contr for the supply of services is T¢Wi5ed with the delivery of the contra¢t¢d service. This is ¢11fied as Unr¢strid fiLlld5 Utde&% there is a conttactual requ1Ment for it to be spent on a partiClar pSe and return¢d if unsp¢nL Tn whi¢b c&8e it may be regarded as re5trtcd. ' iDCOrn¢ from memberstrtips is C0s1sed when received rathcr thall accrued or deferred. {e) RESOURCES EXPENDED Expenditure is recognised oll an accrua]s basis as a liability is tncurreiL Expeftditte includes any VAT Mthi¢h catwot be fjjlly recovere& and is classified under b¢adukgs of the Statement of Fij&1 Activities to which it relates.. ' expenditure OD raising fimds includes the costs of all fid[aIsIng activiti¢4 evert% non-cTrwitable trading activities, and the sale of doned go¢)ds. expenditure on charitable activities includes all costs incurr¢d by & clwity in undertaking activities that furtber its chaxitable aims for the benefit of its beneficiarie4 including those sUPPOrt costs and costs relatiDg to the governance of the clwity app(*tioned to charitable activities. (Trther expenditttre includes all expenditi¢ thgt is Deitherrelattsl to raising fi]n(ts for the clwity nor part of its expenditur¢ orA tharitable activities. All rosts are allocated to eXPeDdI categories retlectillg the use of the rrCe. Direct costs atttable to a single activity ar¢ allocated directly to activity. Shared costs aTe apportioned between 1he activities th¢y eontrtbute to on a rwonable, ju5tifiablc 3lld cousisteni basis. (fj TANGIBLE ASSETS Tallgbi le assets are initiaity rewrM * ¢osty aDd subwuently stated at ¢¢)st less any accumulated d¢preeiation and itt1paient losw. (&) DEPBECIATION Depre¢iatioD is calculated so as Èo wrtte off the cosi or valuation of an asseL l¢&s its residuai Val over the us¢fi]l ecoELomic life of tIt asset &$ follows.. Fixtures and fittings F¢hOld property - 2/0 rtducKllg balauce - 2Y• straigbt line
CAMBIUDGE MUSEUM OF TECHNoLy PAGB 12 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1st bAARCH 2024 NOTES TO THE FINANCIAL STATEMwrs ) HERrrAGE ASSETS Heritage assets measur1 under the cost model are reco8tiised ÉDitially Tecorded at acquisttion C051 and sllb5equently ststed at cosi less any accumulated depreciatiou aud itnpairellt[05Ses. Heritage &5s¢ts mea5urnI der the revaluation 0d¢1 art rtcorded at fair value less any accumul1 Ipa)ent losses. WheTt infornjation on the cost or value of an asset is not alIable and cannoi be obtsined at a cost which is commet)surate with the benefits to user5 of the financial 5trdternents, the asset shall not be recogllised ÈD the statement of financia] wsitioll. li) STOCKS Stocks ar¢ ¢5tirnated at the lower of c¢)5t and esttmated s¢lling pric¢ less ¢osts to wwplete alld Sell. CirtS includes all cosrs of purcbaK costs of conversion and other costs incurred in bringing th¢ 5t(Kk to its p¢nI location and Condition. (i) DEBTORS Debtors aTe regnised at the settlem¢nt amount less any discount or restriction on recover&bilty. (k) CREDITORS AND PROVISIONS Crcditor5 are recogDised where the clwity h&% a present obligation resulting from 8 p&st event that will probably result in the transfer of fimds to a thtrd paty aDd the amount due to settle the obligatiott can be tr&easured or estimated reliabty. Creditors and provision5 are Dormally TecogDi5ed at their settlement date. ) PENSION The ¢ornpany ¢ODtributes lo a d¢fined contributlOD peDskoD hre foi each employe¢ according to its legal obligations. Those assets are held separately from the cljarity ID illdependently admilltered fimds. There w¢r¢ no ntrIblOn$ outstanding at the year end. GRAKfs AND IK)NATIONS. CURRENT Y&IR Total Funds 2024 Unrestricted R¢stri¢t¢d Funds Funds DonatiOIiS {iDcluding Gift Aid) National Lottery Reach grdnt Norfolk City Couu¢il Tesco Bass of Help 4.020 4,020 49,966 800 3,000 1,000 49,966 800 3,000 1.000 5.020 53,766 58,786 4b. GRANTS AND DONATIONS- PRIOR YEAR Restated Unrestricted Restricted Total Funds Funds Funds 2023 Donations (includiDg Gift Aid) Calllbrtdge South Rotary Club Pye Trust Education Servi 1658 i.(M)o 2,658 1,000 3,420 3,400 10.478 3,420 3,400 3,658 6,820
CAMBRIDGE MUSEUM OF TECHNoL(y PAGE 13 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 Isr MARCH 2024 NOTES TO THE FtNANCIAL STATEMENTS CHARrrABLE tNCOME Rutated Totsl Total Unrestricied UnreslTieted FdS Fund5 2024 2023 Admi55105 EH Base Ftts meberShIp (including Gift Atd) Shop sales Other tncoTDe (including services and traiDiDg) 34.922 74,9)4 124 3,076 7,598 25.765 54,762 350 2,810 21.076 120,624 104,763 Tot Total Unrestricted Unrestricted Funds Funds 2024 2023 Bank interesi receivable 342 140 7a. EXPENDITURE ON CHAIUTABLE AcfiviTIES BY FUND TYPE . CURRENT YEAR Total Funds 2024 Unr¢stricted R¢strieted FdS Funds Salaries Site rnaiutenance Utilities Rates Coke and gas Collection management Insurance Le8al aud accoulltiD8 Engin¢eT'S Ho Miscellaneous D¢pr¢cialioD 31,702 2233 14,979 421 165 28 9.499 13.761 15,667 4,383 6.592 6,212 31.702 7.248 14,979 421 165 28 9,499 13,761 15,667 4.383 34,984 6,212 5,015 28.392 105,642 33.407 139,049
CAMBRIDGE FAUSEUM OF TECHNOLOGY PAGE 14 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FfNANCIAL STATEMENTS 7b. EXPENDITURE ON CHARrrABLE AcfIvETIES BY FUND TYPE . PRIOR YEAR Total Funds 2023 Unr¢5tricted Restricted Funds FuD(Ls Salaries Site maint¢nan¢e Utilities Rates Cok¢ and gas Collectioll 8¢Inct IuSYTance Legal and accounting EngiDe&s House MisLellaneous Depre£iation Loan interest Travel 28.899 14,653 18,243 475 116 34 7.798 4.309 14,444 7.548 5594 7.171 113 28,899 18,425 18243 475 116 34 7.798 4,309 14,444 7,548 35,083 7,171 113 3.772 29.489 109J97 33,261 142.658 EXPENDITURE ON RAssfNG FUNDS BY FLfND TYPE Unrestricted Restric¢ Funds 2024 Tot Unrestricted Restricted Funds Funds FuDds 2024 2023 2023 Toral Fullds 2023 2024 Advertising and markettng Events expeDs¢s 3.088 645 3,148 645 3207 1,021 3,207 1,021 3.733 60 3.793 4228 4.228 NET INCOMtNG RESOURCES This is stated after charging.. DepTeciation of laWle fixed assets F¢¢s payable for the ¢x&))ination of the financial statements 2024 2023 34.984 E,452 35,083 1,350 loa. TANGIBLE FIXED ASSEfS . CURRENT YEAR COST At 1st April 2023 AdditiOIJS Fi¥¢5 & Fittings Freehold Property Total 20,474 420 1,654.465 11,738 1.674.939 12,158 At 3 1st Mch 2024 20,894 1.666.203 I,687,097 DEPRECIATION At Isi April 2023 Cbarge for th¢ year At 31st Ma 2024 12,073 1.765 98,952 33219 111,025 34.984 13,838 132.171 146,009 NET BOOK VALUE At 3 1st Marcb 2024 7.056 1.534,032 1,541,088 There is a charge on the prqxrty in tavour ofthe N8ti0nal Lory Heriiage Fun(L
CAMBRIDGE MUSEUM OF TECHNOLOGY PAGE 15 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 NOTES TO THE FENANCIAL STATEMEKrs lob. TANGIBLE FIXED ASSEts . PRIOR YEAR COST At 1st April 2022 and 31st March 2023 DEPRECIATION At 1st April 2022 Charge for the year At 3 1st Mah 2023 Fixnw¢s & Freehold FittTDg5 Pwerty Total 20.474 1.654,465 1.674,939 9,974 2,099 65,968 32,984 75.942 35,083 12,073 98,952 111.025 NET B(M)K VALUE At 3 1st March 2023 8,401 1,555.513 1,563,914 DEBTORS 2024 2023 Debtors Prepaym]ents 10,564 1648 4,465 1,689 13,212 6,154 12. CREDITORS.. AMoifNTS FALLING DUE WITHtN ONE YEAR 2024 2023 Creditors Loans Acen]a]s and deferr iDcotn¢ OtIr tteditors 1,971 58,000 1.615 598 3,235 08,000 1,470 019 62.184 73.324 13. CREDrroRS.. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 60,401 65.190 The charity has a loan with th¢ Arthte Heritage Fund of £IOO.IJ)O. The arnount olltstattding aq of the end of the FY was £66,393. AHF bave a redu¢ed monthly TepaYent (whTch includes Capital as well as interest pa)Thents) until at least April 2025, with payments ¢xt¢nding until the loan is repai4 potentially up to 2030.
CAMBIUDGE MUSEUM OF TECHNoL(y PAGE 16 FINANCIAL STATEMEwfs FOR THE YEAR ENDED 3 1ST MARCH 2024 NOTES TO THE FfNANCJAL STATEMENTS 14a. STATEMENT OF FUNDS . CURRENT YEAR Brought C8Thied Unrestricted futtd5 General funds 30.004 125,986 (109,375) 46.615 Restricted fuTrds - Nationa5 Lottery Heritage Fulld - Nlonal Lottery Heritage Fund - Pye History TFU5t Reach - Historic England - Heritage School - EducatÈon Services . Share Mu5eurns E&st 1,185,329 (23,631) 1.161.698 49.966 48,006 336 114,362 67,535 ,705 49,966 48.983 {977J {4641 (2,3261 (1,374) (1,695} {3,000) (33,467) (142,842) 11&688 68.909 3,41KI 3.0 1.423,309 53.706 1,443.608 TOTAL FifNDS .453.3 13 179,752 1,490,223 14b. STATEMENT OF FUNDS . PRIOR YEAR Brougbi Carried fonvard Illme Expenditure Unrestricted fuDds General filnds 35.068 108,561 (113,6251 30,IM14 Rtstricled funds National Lottery Heritsge Fund - Pye History TTr1 Historic England Heritsge SchoM)I - Education SeTVi 1209,941 50J59 (24,6121 (4,796) (2.422) {1,431) ,185,329 48.983 116.688 68,909 3,400 3,420 70.340 3.400 6,820 1.449.750 1.484.818 (33,261) (146,886) 1.423.309 TOTAL FUNDS 115.381 1,453,313 Nationth Lottery Herttage Pye History TTUSL Historie England and Herithge School were all gTaJJts provided towards the capitrl wsts of restt>ring th¢ buildings of the Museum. Reach alkd Share mSeUMS E&st w¢r¢ grants for ]JJainteDaDce alld ellabling the mLU lo work towards reaching Wet Zero,. Educational SeTrices a grant towards school visits and education. N]021 lknttery HertÉage Fu1 for £49,966 was a t re(xived to b¢ expended in the following years on supportin8 the in tern of vol• recruitrtieDL mailltenanc4 dtgital and educational opportunities and events.
CAMBRIDGE MUSEUM OF TECEfN0Ly PAGE 17 FtNANCtAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 NOTES TO THE FfNANCIAL STATEm[s 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Totsl Restated Fd5 UDrestricted Restricted Total Funds 2024 Funds Funds 2023 UDT¢5trict¢d Rtricted Funth Funds Fix &%%ets 149.151 lJ91.937 1.541,088 I44,J5 1,419.909 1.563.914 Net current liabilities Long terni liabilities (42,135) (60,401) 46,615 51.671 9,536 (60,401) 1.490,223 (48.8111 105,190) 3,400 (45,411) {65,190) 1.443,fA)8 30,004 1,423,309 1,453.313 16. TRUSTEE REMUNERATtON AND RELATED PARTY TRANSACTtONS Neither the TnteeS nor any persons connected th th¢m have received remuneTrtton. either in the Cuent year or the prioryear. During the year totsl exF¢nse5 of £1.095 (2023.. £1.531) wtre r¢ibutsed to Tr[ets. tknnations tofalling £100 (2023: £450) were re¢¢iv¢d from Tnte¢s. An amouni of £Nil (2023.. £578) was also received from a trustee for rn¢rclMndise. A l¢)8n w&8 received in previous years from M B1Xkbu a Trus*e. The amount outstanding at the end of the year was £40,0(KJ (2023.. £40.01)0). 17. STAFF COSTS 2024 2023 Wages aud sa]aries Social security costs Pension ¢ontributions 26,847 3,503 1,352 25.289 2.661 949 31.702 28,899 The Truste¢s consider themselv key twement and are not remunerat No employee rK¢iv¢s a salary of rn0 than £00,110 annum. Th¢ average numiv of staff employ¢d by the dtarty is 2 (2023: 2). 18. STATEMENT OF CASH FLOWS Total Funds 2024 Total Fun 2023 CASH FLOWS FROM OPERATfNG ACTIVITIES Net movement for tbe reporting period (&$ the SOFA) Adju5trneni for.. Interest receivable DepreciatiorA Decr¢ase creditors Incruse ID debtors 36.910 (31,505) 1342) 34.984 (15,9291 {7,058J (140) 35,083 (27,522) (3.376) (27,460) Nei cash provided by Operati activities 48,565