2020-09-30-accounts - Hereford Cider Museum Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents		Page
Report ofthe Trustees		1-5.	'
Independent Auditor's	Report	6-9
	I
Statement ofFinancial	Activities (including
Income and Expenditure	Account)	10
	)
Balance Sheet
Notes to the Accounts		12-21

James Harpe (Senior Statutory Auditor)	James Harpe (Senior Statutory Auditor)
:Forand on behalf of
Harper Sheldon Limited Chartered accountants. k statutory	auditor
Midway House
Staverton Technology Park
Herrick Way, Staverton
Cheltenham, Glos,
GL516TQ

INCOME AND ENDOWMENTS FROM:	Note	Unrestricted funds	Restricted funds	Total 2020	Total 2019
Donations and legacies Charitable activities, Investments	4 5 6	3,235,466 84,595 10,708	28,302 2,842	3,263,768' 87,437 10708	186,961 123,335 59 114
Total income and endowments		3,330,769	31,144	3,361,913	369,410
EXPENDITURE ON:
Expenditure on raising funds: Expenditure on charitable activities	, 7	(14,607) (177,610)	(39,267)	(14,607) (216,877)	(31,801) (173,886)
Total expenditure		(192,217)	(39,267)	(231,484)	(205,6$7)
Net income / (expenditure)		3,13$,552	(8,123)	3,130,429	163,723
Transfers between funds Other recognised gains/(losses):		(10,000)	10,000
Gains/(losses) on revaluation ofinvestment
assets		101,633		101,633	(13,757) '
					l
NET MOVEMENT IN FUNDS		3,230,185	1,877	3,232,062	149,966
Reconciliation offunds:
Total funds brought forward		1,622,010	272,707	1,894,717	1,744,751
Total funds carried forward		4,852,195	274,584	5,126,779	1,894,717

FIXEDASSETS			Notes	2020			2019
Tangible fixed assets Investments			8 9	987,063 3,831,693			763,271 930,216
				4,818,756			1,693,487
CURRENT ASSETS
Stocks Debtors			10	39,078 17,089			40,926 6,150
Cash at bank and in	hand			260,990			174,222
				317,157			221,298
Creditors: amounts	falling due			(9,134)			(20,068)
					I
within one year
Net current assets				308,023			201,230
Total assets less current liabilities				5,126,779			1,894,717
NET ASSETS				5,126,779			1,894,717
Restricted funds			12	274,584			272,707
Unrestricted funds General fund			13	3,854,213			613,966
Designated fund —maintenance repairs		and		338,407			348,469
Fair value reserve				659,575			659,575
TOTAL CHARITY FUNDS				5,126,779		'	1,894,717

2, RELATED PARTY TRANSACTIONS	AND TRUSTEES'	EXPENSES AND REMUNERATION	EXPENSES AND REMUNERATION
The Trustees all give &eely their time and expertise without any form ofremuneration or other benefit in cash or kind (2019:anil). Expenses paid to the trustees in the year totalled KNil (2019:KNil).
3. AUDIT / INDEPENDENT EXAMINERS	REMUNERATION
		2020 1	2019'
Auditor / Independent examiners remuneration comprises: Audit / Independent examiners services Management accounts, other and software transition Payroll bureau services including furlough claims		3,420 5,406 2 145 10,971	3,400 1 101 4,501
4. DONATIONS AND LEGACIES
		2020	2019
Church Street Charitable Trust NACM - archive ofcider pomology The Herefordshire'Community Foundation —Becket Bulmer fund EFBulmer Benevolent Fund Miss AG Bulmer PCC Holy Trinity Church Gillian Bulmer Charitable Trust Community Art Project —Herefordshire Council THE APPLE WORLD —Hereford City Council THE APPLE WORLD —Ait Fund with Weston Loan Programme THE APPLE WORLD -East Mailing Trust		15,000 2,500 14,651 175,150 4,000 3,033,272 377 3,000 14,025	16,000 2,500 14,566 500 ' 85,066 2,750 3,800 8,443 5,000
THE APPLE WORLD -Heineken John Ellerman Foundation Community First Sundry donations and gift aid		400 1,393	42,000 2,000 4,336
		3,263,768	186,961
CHARITABLE ACTIVITIES
		2020	2019
Museum shop, cafe, room hire and orchard income Museum admissions		48,222 9,714	92,827 30,508
Covid-19 grants		29,501
		87,437	123,335
6. INCOME FROM INVESTMENTS
		2020	2019
		K
Listed investments income Realised (loss)/profit on the sale ofCazenove Investments		84,025 (73,317)	25,054 34,060
		10,708	59,114

7. , EXPENDI	T~ ON	HARI
				2020		2019
Governance costs:
Museum director salary and bookkeepers charges Telephone and internet costs Auditor/Independent examiners remuneration Legal and professional fees Depreciation Bank charges				40,882 1,543 10,971 8,998 2,454 604		39,686 1,350 4,501 4,999 1,891 942	'
Administrative costs:
I I '
						f
Premises costs Motor and travel costs				44,321 398		44,135 529
Printing, stationery and Exhibits and equipment Depreciation Sundry expenses	advertising			$,824 33,628 16,000 2,235		4,382, 2,816 16,000 1,000
Staffcosts:
Wages and salaries Social security costs Pension costs			, .	..48,246, . 992 781	,	50,361 , 552 742
								I
				216,877.	1735886
The average number ofemployees,		calculated on a full-time equivalent	basis,	analysed by function,		was;
				2020		2019
Governance staff Other staff				2 11		11			II,
				13		13

8. TANGIBLE FIXEDASSETS
	Freehold	Plant and	Total
	property	machinery
COST ORVALUATION
Balance at 1October 2019 Additions	800,000 240,000	143,504 2,454	943,504 242,454	"
Revaluations
Balance at 30September 2020	1,040,000	145„958	1,185,958
ACCUMULATED DEPRECIATION
Balance at 1October 2019	88,000	92,233	180,233	.
Charge for the year	16,000	2,662	18,662
Revaluation adjustments
Balance at30September 2020	104,000	94,895	198,895
NET BOOK VALUE
At 30September 2020	936,000	51,063	987,063
At 30September 2019	712,000	51,271	763,271

9, FIXEDASSETINVESTMENTS
	2020	2019
Market value at 1October 2019 Net gains/(losses) on revaluation at30September 2020	930,216 ) 101,633	823,259 (13,757)
Eliminated on disposal Purchased in year Investments donated by The Pippin Trust	(1,108,211) 1,203,567 2,704,488	(240,243) 360,957
Market value at 30September 2020	3,831,693	, 930,216
Historical cost as at30September 2020	3,633,915	834,045

9. FIXEDASSETI	NVESTMENTS -continued
		2020	2019
UK Equities		296,46&	129,700
International Equities		996,180	361,387
UK Bonds		416,014	194,943
North America Bonds		207,778	62,020
Portfolio Funds		485,135	182,141
COIF Charity Funds		1,430,093
Unlisted Securities - at cost
125Hereford Co-operative	Housing Ltd
4%loan stock		25	'25
		3,831,693	930/16
10. DEBTORS
		2020	2019
Amounts falling 'due within	one year:
Trade debtors Other debtors, ,		17,089,	3,590 2,560
		17,089	6,150
11. CREDITORS
		2020	2019
Amounts falling due within	one year:
Trade creditors Taxation and social security'	payable	1,745 820	2,402 1039
Accruals Other creditors		6,420 149	3,458 13,169
		9,134	20,068

12. RESTRICTED FUNDS	12. RESTRICTED FUNDS	12. RESTRICTED FUNDS
The income funds ofthe Charity include restricted funds comprising and grants held on trusts tobe applied for specific purposes:			the following unexpended		balances	ofdonations
	A GBulmer Education Fund	Museum Development Fund	Archive ofCider Pomology Fund	Collection Fund		Community Art Project
Balance at 1 October 2019 Received during the year Transfers from	323	202,692	19,997 12,842		1,082	113 377
general fund
Cash expended			(7,113)		(50)	(377)
Balance at30September 2020	323	202,692	25,726		1,032	113

12. RESTRICTED FUNDS	- continued
	THE APPLE	John	Total
	WORLD	Ellerman
	exhibitions	Foundation
Balance at 1 October 2019	6,500	42,000	272,707
Received during the year	17,925		31,144
Transfers between funds	14,500	(4,500)	10,000
Cttsh expended	(7,568)	(24,159)	(39,267)
Balance at30September 2020	31,357	13,341	274,584

At 1 October 2019		613,966
Incoming resources		3,330,769
Outgoing resources		(182,155)
Transfers (to)restricted funds Gains on investment assets		(10,000) 101,633
At 30September 2020		3,854,213

15, ANALYSIS OFGROUP NE	T AS	SETS BETWE	E	N FUNDS
				Unrestricted	Restricted		Total
				funds	funds
Fund balances at30September 2020 are	represented by:
Tangible fixed assets				987,063			' 987,063
Investments Current assets Current liabilities				3,629,001 245,265 (9,134)	202,692 ' 71,892,	'	3,831,693 317,157 (9,134)
Total net assets				4,852,195	274,584		5,126,779
Unrealised (gains) included above on tangible fixed assets				(659,575)
Unrealised (gains) included above on investment		assets		(172,899)
Total unrealised (gains) at30September	2020			(832,474)
Reconciliation ofmovement in unrealised	(gains) and losses on			''
&eehold properly and investment assets:
Unrealised (gains) at l,october 2019 . Net (gains) arising on revaluation ofinvestment		, „(730,841) assets in theyear, .(101,633),.
Unrcalised (gains) at30:September 2020				(832,474):,
i '
16. ' ' 'REI ATED PARTY TRANSACTIONS			i