Charity registration number: 1160419
The Tudor House Museum Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Devereux & Hunt Ltd Certified Accountant 51 Basepoint Business Centre Oakfield Close Tewkesbury Glos GL20 8SD
The Tudor House Museum Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 19 |
The Tudor House Museum Trust
Reference and Administrative Details
Chairman Mr M Mynard Trustees : Mr C L Biggs Mr R Chambers Mrs S Mynard Mrs D Scott Miss A Wilkins Mr M Mynard Charity Registration Number 1160419 The charity is incorporated in England and Wales. Principal and registered Office The Tudor House 16 Church Street Upton-upon-Severn Worcester WR8 0HT Independent Examiner Devereux & Hunt Ltd Certified Accountant 51 Basepoint Business Centre Oakfield Close Tewkesbury Glos GL20 8SD
Page 1
The Tudor House Museum Trust
Trustees' Report
Trustees' Annual Report for the year ended 31 March 2024
The Trustees present their Report and Accounts for the year ended 31 March 2024
Reference and administrative details .
The charity name.
The legal name of the charity is: - The Tudor House Museum Trust, this is also its operating name.
The charity's areas of operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1160419.
Legal structure of the charity
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW).
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are: -
The Tudor House
16 Church Street, Upton upon Severn
Worcester, WR8 0HT
Telephone: 01684 438820
E mail: Tudorhouse.upton@gmail.com
Website:www.thetudorhousemuseumupton.org
The Trustees in office on the date the report was approved were: -
Mr C L Biggs
Mr R Chambers
Mr M Mynard
Mrs S Mynard
Mrs E B Rickard (part year – left at AGM Nov 2023)
Mrs D Scott
Mr H D D Staveley-Hill (part year – left at AGM 2023)
Miss A Wilkins
Page 2
The Tudor House Museum Trust
Trustees' Report
The following persons served as Trustees during the year ended 31 March 2024 :-
The trustees who each served as a trustee in the reporting period were as shown above.
All the trustees are also members of the charity.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
To provide for the advancement of public education by gathering a collection of items and artefacts (whether by gift, loan or purchase) reflecting the history principally of Upton-upon-Severn and the River Severn for display in a museum for the interest and education of local people, their children and visitors to the town of Upton-upon-Severn.
The main activities undertaken in relation to those purposes during the year.
The Trust continued to augment the Museum's collection during the year, largely through the generosity of the public. Within the limits imposed by the covid restrictions the Trust worked to clean, rearrange and reorganise the exhibits. The window displays continued to interest and educate residents and visitors.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The Trust opened the museum initially for Saturdays, Sundays and Bank Holidays together with Thursdays when “The Elgar” was moored. Following extensive refurbishment following the previous year’s flood damage, the Museum reopened on the 8th July 2023.
Some “good news”
The reopening of the Museum on the 8th July 2023, followed an unprecedented refurbishment after the water damage from the leaking water tank during the winter of 2022.
In total Aviva Insurance paid out more than £12000 in repair costs which included:
-
Building costs associated with a completely new ceiling to the ground floor, extensive new inset lighting, stripping and varnishing the parquet floor, removal of the damaged “dumb waiter”
-
Replacement of museum artefacts and content impacted by the water damage including new church model, photographs, tools and paintings
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Water damaged oak beam specialist drying
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Redesign of the Museum layout to make better use of the internal space
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Ongoing garden maintenance to keep it in pristine order
-
A recruitment drive at the end of the financial year saw an additional 12 volunteers join the Museum – taking the total volunteering number to 32
-
The Museum also now has a 5 year strategic plan and vision which was agreed at the AGM in November 2023
-
2 new “Associate Trustees” came on board in March 2024, and are expected to become full trustees at the 2024 AGM – Michael Follett and Janet Marsh.
Page 3
The Tudor House Museum Trust
Trustees' Report
Some “not so good news”
-
In October 2023, the tenant at No14 Church Street vacated the premises after a 9-year tenure. However, the premises had not been maintained during that period and therefore significant
-
redecoration, new carpets, gas boiler repairs, a new cooker, shower screen, and bathroom flooring had to be undertaken prior to any potential reletting of the premises. This was obviously additional expenditure that was not forecast in the budget planning.
-
In addition, the tenant at No 18 Church Street also vacated the premises but these were in a much better state of repair and therefore relatively minor expenditure was incurred.
-
No18 Church Street was re-let in December 2023, whilst No14 remains vacant,
Plans for the external painting of No14 are in place which will take place in May 2024
Action Plan Objectives – Year 1
As part of the agreed strategic plan, I would advise that all the stated objectives for November, December 2023 and January, February and March have been completed (see P14 of the Strategic Plan)
The contribution of volunteers during the year.
The Trustees have received absolute support from the volunteers who continued to be willing to work with us on many tasks, especially in terms of making the Museum operational after all of the refurbishment work. The Trustees would like to thank all the volunteers for their contribution and help, which is reflected in the comments received from visitors. We now have dedicated teams looking after the garden, artefacts and collections, reception, photography and the trustees have defined roles.
The main achievements and performance of the charity during the year .
Mark Mynard was elected of Chair of Trustees at the AGM on 11th November 2023
The Trustees have maintained the high standards of presentation of exhibits in a historic building. They and volunteers have contributed historical articles about Upton and about the Museum’s collection to local and national publications. The Museum is also now a member of the Association of Independent Museums and is seeking formal accreditation as an independent museum in order to bid for heritage and lottery funding. The building museum itself is well maintained: repairs to the roof, to brickwork and replacement of a glass structure have been completed and new upstairs lighting has been updated.
Significant contribution to positive visitor experience with increased engagement between the Museum and Malvern Hills District Councils tourism team.
The difference the charity's performance during the year has made to the beneficiaries of the charity and wider society.
The Trust is working to increase its contribution in its aim of educating both local residents and visitors to the riverside town about the history of Upton-upon-Severn and its region as well as displaying exhibits, especially pottery and the lace collection, which is attracting expert attention, of wider national significance. The positive comments of visitors in the Visitors Book, on the internet and on social media have continued to encourage the trustees in their work.
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The Tudor House Museum Trust
Trustees' Report
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New trustees are chosen by the existing trustees who wish to ensure that the skills and/or experience which a potential trustee offers will benefit the trust especially in the areas of history, accountancy, investment, property and education. The Trustees also regard it as important that some of the trustees have firm roots in the local community. The museum's volunteers and those who have shown their expert interest in the museum are sources of potential trustees.
Bankers: Lloyds Bank plc, Malvern
Solicitors: Star Legal (incorporating Moore Brown & Dixon LLP), Tewkesbury
Investment advisors: Charles Stanley & Co. Limited, London
Accountancy: Devereux and Hunt, Tewkesbury
The Trustees continue to operate in accordance with the Founding principles aligned to the Constitution of Charitable incorporated organisations adopted in February 2015
Financial review
The charity's financial position at the end of the year ended 31 March 2024
The financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows: -
Financial review of the position at the reporting date, 31 March 2024.
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Specific changes in fixed assets are detailed in the notes to the accounts.
The charity's listed investments are managed by Charles Stanley & Co. Ltd, members of the London Stock Exchange, on behalf of the trustees.
The trustees do not foresee an immediate need to call for funds from the capital in its investment portfolio although they remain aware of the risks inherent in caring for very old buildings. The Trustees therefore regard these investments as an asset which they will wish to see grow with a view to expenditure on the development of the museum in the future, taking into account the wishes of its founders, and as a cushion against any unforeseen events. They rely on the income from this portfolio and their investment properties to allow the museum to open to the public free by resolution of the 2020 A.G.M.
Policies on reserves .
As detailed on the Balance Sheet, the bulk of the charity's reserves are held in the form of fixed assets.
The tangible assets and heritage assets are the permanent museum establishment, its buildings and exhibits.
Investments held as fixed assets are needed to produce income to fund the charitable activities, the upkeep of the permanent museum establishment, updating displays and improving the visitor experience.
Net current assets are needed to provide working capital for the day to day running of the charitable activities including the maintenance of the establishment.
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The Tudor House Museum Trust
Trustees' Report
Availability and adequacy of assets of each of the funds
The Board of Trustees is satisfied that the charity's assets are available and adequate to fulfil its obligations.
Details of The Independent Examiner
The trustees have appointed Michelle Devereux FCCA of Devereux & Hunt Ltd as the Trust's independant examiner and recommend that she remains in the role for the next year.
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP),
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements
The annual report was approved by the trustees of the charity on 20 May 2024 and signed on its behalf by:
......................................... Mr M Mynard Chairman and trustee
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The Tudor House Museum Trust
Independent Examiner's Report to the trustees of The Tudor House Museum Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of The Tudor House Museum Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of The Tudor House Museum Trust's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) 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:
-
accounting records were not kept in respect of The Tudor House Museum Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form or content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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the accounts 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 (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... M Devereux Certified Accountant
51 Basepoint Business Centre Oakfield Close Tewkesbury Glos GL20 8SD
20 May 2024
Page 7
The Tudor House Museum Trust
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 2 Other trading activities 3 Investment income 4 Other income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net expenditure Other recognised gains and losses Other gains/losses 9 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 17 |
Unrestricted £ 3,707 4,230 19,682 12,006 39,625 (5,732) (53,558) (59,290) (19,665) 62,432 42,767 935,314 978,081 |
Total 2024 £ 3,707 4,230 19,682 12,006 39,625 (5,732) (53,558) (59,290) (19,665) 62,432 42,767 935,314 978,081 |
Total 2023 £ 4,154 8,300 18,348 - |
|---|---|---|---|
| 30,802 | |||
| (5,363) (29,271) |
|||
| (34,634) | |||
| (3,832) (25,199) |
|||
| (29,031) 964,345 |
|||
| 935,314 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 17.
The notes on pages 11 to 19 form an integral part of these financial statements. Page 8
The Tudor House Museum Trust
Charity registration number: 1160419
Balance sheet as at 31 March 2024
| Note Fixed assets Tangible assets 12 Heritage assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: Amounts falling due within one year 16 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 17 |
2024 £ 383,401 3,963 566,634 953,998 1,888 23,421 25,309 (1,226) 24,083 978,081 978,081 978,081 |
2023 £ 390,797 4,295 519,462 |
|---|---|---|
| 914,554 | ||
| 1,494 21,142 |
||
| 22,636 (1,876) |
||
| 20,760 | ||
| 935,314 | ||
| 935,314 | ||
| 935,314 |
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to an independent examination.
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation wth respect to accounting records and the preparation of accounts.
The Trustees are satisfied that, althouth the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions of Part 15 of the Companies Act 2006, applicable to companies subject to the small companies regime.
The notes on pages 11 to 19 form an integral part of these financial statements. Page 9
The Tudor House Museum Trust
Charity registration number: 1160419
Balance sheet as at 31 March 2024
The financial statements on pages 8 to 19 were approved by the trustees, and authorised for issue on 20 May 2024 and signed on their behalf by:
......................................... Mrs S Mynard Trustee
......................................... Mrs D Scott Trustee
The notes on pages 11 to 19 form an integral part of these financial statements. Page 10
The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared on the accruals basis in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Basis of preparation
The Tudor House Museum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The Trustees consider that there are no material risks and future assumptions to be disclosed.
Exemption from preparing a cash flow statement
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Expenditure
All expenditure and liabilities are recognised once there is a legal or constructive obligation to that expenditure or liabiity and it is probable settlement is required and the amount can be measured reliably.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 7.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Value Added Tax is not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Activities.
Winding up or disolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
Tangible fixed assets
Tangible fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Heritage assets
The trustees consider that the vast majority of items in the museum collection would be difficult, if not impossible, to value. Even if valuations could be obtained, the costs would be onerous compared with the benefit derived by the museum and users of the financial statements. As a result, no value is reported for these assets in the museum's balance sheet.
The exceptions are for heritage assets capitalised by the predecessor trust and included in the transfer of undertaking and for heritage assets purchased by this charity, which are capitalised if the cost is greater than £1,000.
Items in the collection that are capitalised are depreciated at 5% straight line.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Freehold buildings | 2% straight line |
| Fixtures and fittings | 10% straight line |
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Investment properties
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals 3 Income from other trading activities Museum income; Sales of purchased goods Museum events Income from rents (No 14 Church St) |
Total 2024 £ 3,707 3,707 Total 2024 £ - 205 4,025 4,230 |
Total 2023 £ 4,154 |
|---|---|---|
| 4,154 | ||
| Total 2023 £ 247 1,153 6,900 |
||
| 8,300 |
Page 13
The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Investment income
| Income from investments portfolio Income from rents (No 18 Church St) 5 Other income Insurance proceeds 6 Expenditure on raising funds Repairs and maintenance Investment management fees Rental management fees |
Total 2024 £ 9,741 9,941 19,682 Total 2024 £ 12,006 12,006 Total 2024 £ - 3,886 1,846 5,732 |
Total 2023 £ 9,861 8,487 |
|---|---|---|
| 18,348 | ||
| Total 2023 £ - |
||
| - | ||
| Total 2023 £ 561 3,784 1,018 |
||
| 5,363 |
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Expenditure on charitable activities
| Rates and water Light, heat and power Cleaning and waste management Premises repairs, renewals and maintenance Property insurance Telephone and internet Postage, stationery and printing Software licences and expenses Sundry expenses Depreciation Cost of charitable letting on non investment property Independent examination 8 Net incoming/outgoing resources Net outgoing resources for the year include: Depreciation of fixed assets 9 Other gains/(losses) Realised gains/losses on investment assets Unrealised gains/losses on investment assets |
Total 2024 £ 2,001 2,787 1,949 29,073 5,271 610 593 476 1,789 7,728 553 728 53,558 2024 £ 7,728 2024 £ 6,243 56,189 62,432 |
Total 2023 £ 1,653 2,030 1,900 8,130 4,331 462 104 530 833 7,641 828 828 |
|---|---|---|
| 29,270 | ||
| 2023 £ 7,641 |
||
| 2023 £ 5,627 (30,826) |
||
| (25,199) |
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
11 The contribution of volunteers
The charity relies on volunteers to run the museum on a day to day basis during opening hours by looking after the reception of visitors. In addition they help with the cleaning of exhibits, the arrangement of new displays, the enhancement of the experience of visitors, especially children, and in maintaining and improving the garden.
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Tangible fixed assets
| Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 13 Heritage assets Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 |
Land and buildings £ 438,050 438,050 49,590 7,001 56,591 381,459 388,460 |
Furniture and equipment £ 3,947 3,947 1,610 395 2,005 1,942 2,337 Exhibits £ 6,647 6,647 2,352 332 2,684 3,963 |
Total £ 441,997 |
|
|---|---|---|---|---|
| 441,997 | ||||
| 51,200 7,396 |
||||
| 58,596 | ||||
| 383,401 | ||||
| 390,797 | ||||
| Total £ 6,647 |
||||
| 6,647 | ||||
| 2,352 332 |
||||
| 2,684 | ||||
| 3,963 |
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
14 Fixed asset investments
| 14 Fixed asset investments | ||
|---|---|---|
| Investment properties Other investments Investment properties Cost or Valuation At 1 April 2023 Provision At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
2024 £ 127,000 439,634 566,634 |
2023 £ 127,000 392,462 |
| 519,462 | ||
| No 18 Church St £ 127,000 |
||
| - | ||
| 127,000 | ||
| 127,000 |
The freehold investment property, 18 Church Street, Upton-upon-Severn, has been valued by the Trustees. They believe the current value of the property is a fair value.
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Other investments
| Cost or Valuation At 1 April 2023 Revaluation Additions Disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Listed investments £ 392,462 56,439 59,943 (69,210) 439,634 439,634 392,462 |
Total £ 392,462 56,439 59,943 (69,210) |
|---|---|---|
| 439,634 | ||
| 439,634 | ||
| 392,462 |
The listed investments have been valued by Charles Stanley & Co Limited, members of the London Stock Exchange.
15 Debtors
| Prepayments 16 Creditors: amounts falling due within one year Accruals |
2024 £ 1,888 2024 £ 1,226 |
2023 £ 1,494 |
|---|---|---|
| 2023 £ 1,876 |
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The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
17 Funds
| 17 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General Unrestricted revenue fund Unrestricted funds General Unrestricted revenue fund |
Balance at 1 April 2023 £ 935,314 Balance at 1 April 2022 £ 964,345 |
Incoming resources £ 39,625 Incoming resources £ 30,802 |
Resources expended £ (59,290) Resources expended £ (34,635) |
Other recognised gains/(losses) £ 62,432 Other recognised gains/(losses) £ (25,198) |
Balance at 31 March 2024 £ 978,081 |
| Balance at 31 March 2023 £ 935,314 |
Unrestricted funds represents the funds arising from past operating results. These are available to be used for any purpose so long as it meets the aims and objectives of the charity as outlined in the governing document.
18 Ultimate controlling party
The charity is under the control of its legal members which are the trustees.
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