## _**Annual Report and Accounts Year ended 31 December 2021**_
## Trustees, Officers and Advisers
_Trustees_ S Avery (Chairman) Dr H Barrett-Mold (appointed 2 December 2021) H Brown T Butcher J Dugdale Bradley J Freemantle D Hicks-Beach Ms A Hudson (appointed 23 September 2021) J Ryman T Simmons A Still (retired 23 September 2021) Mrs K Welch _Trust Address and Contacts_ Milton’s Cottage Trust CIO 21 Deanway Chalfont St Giles Buckinghamshire HP8 4JH Telephone: 01494 872313 Email: info@miltonscottage.org Website: www.miltonscottage.org _Officers and Advisers_ Honorary Secretary J Freemantle Honorary Treasurer J Dugdale Bradley Business Director K O’Reilly Honorary Trustees F Nolan Dr K Sugden - Chairman, Friends of Milton’s Cottage Honorary Solicitor BWK Solicitors, Chalfont St Giles Independent Examiner P Lea-Wilson Bankers National Westminster Bank plc Buckinghamshire Building Society Investment Managers CCLA Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 1
_**Annual Report and Accounts Year ended 31 December 2021**_
## Annual Report of the Trustees
The Trustees present their report for the year ended 31 December 2021.
## **Structure, Governance and Management**
In accordance with the Milton’s Cottage Trust CIO Constitution dated 6th August 2015 there are no nominated Trustees positions, on the advice of the Charity Commission to assist with succession planning. However, the Trust invites four organisations to be represented as a Trustee. There is a maximum stated of eleven Trustees. The Trust is registered with the Charity Commission, no 1163039, and incorporates the assets, liabilities, aims, objectives and mission of the former charity known as Milton Cottage Trust (charity registration number 204997).
The Trustees at the end of the year, together with the roles they undertake or bodies they represent, were as follows:
|S Avery|Chairman|
|---|---|
|Dr H Barrett-Mold|Horticulture|
|H Brown|Museum Mentor|
|T Butcher|Nominated by Buckinghamshire County Council|
|J Dugdale Bradley|Finance and Endowment Development Board|
|J Freemantle|Secretary and Governance|
|D Hicks-Beach|Nominated by The Mercers’ Company|
|A Hudson|Fundraising|
|J Ryman|Nominated by Chalfont St Giles Parish Council|
|T Simmons|Infrastructure and Publicity|
|Mrs K Welch
|Museum and Collection|
Milton’s Cottage has been open when Covid regulations permitted between April and October on Wednesday, Thursday, Friday, Saturday and Sunday afternoons and all bank holidays as well as for pre-arranged group visits at other times with the assistance of a group of 20 volunteer guides, mainly being members of Art Society and others.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 2
_**Annual Report and Accounts Year ended 31 December 2021**_
## **CHAIRMAN'S STATEMENT FOR THE YEAR 2021**
“So shall the world go on” - Paradise Lost 1667
The Trust has faced the on-going constraints caused by Covid-19 with commitment, flexibility and resilience, ending the year better positioned than at the start.
As the following pages demonstrate, the built fabric is sound and the garden experience enhanced **,** with visitors continuing to be welcomed when government guidelines allowed (albeit with social distancing measures in place throughout the year), whilst income levels have been sustained to produce a 10% overall increase on the previous year.
The Trust has thereby been able to increase the number of projects and to widen the range of activities for reaching out to the public of all ages, in order to address directly the oppressive impacts of “lockdown”.
That in turn has strengthened the awareness and appreciation of both the beauty and relevance still of John Milton’s works, as well as the serenity of this his home that was his family’s refuge during the pandemic of his own time.
This has all been made possible both by the diverse range of funds entrusted to the Museum, as well as by the prodigious efforts of the Director, the Volunteers, the Friends and the Trustees.
The Strategic Priorities of the Trust are thereby continuing to be met.
That consequently provides a basis for confidence, but not complacency, when looking ahead in these still uncertain and challenging times.
Of equal importance for purposeful continuity has been the broadening of the Board of Trustees, to add new vitality, perspectives and professional experience to the team.
Last year’s report expressed deep gratitude to all who had brought the Museum safely to its prevailing status as a leading literary heritage destination. It is my privilege to repeat that the more so this year and no one deserves that thanks more than our retiring Trustee, Andy Still and his wife Jan, who have been the inspiration (and perspiration) for the creation of our unique Grade II Registered Cottage Garden.
They are the Museum’s own Adam and Eve, following in the footsteps of the first gardeners of Paradise as revealed by Milton in Paradise Lost:- ”So hand in hand they passed, the loveliest pair that ever since in love’s embraces met…..”
Simon Avery Chairman
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 3
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Objectives and Activities**
The Trust was established for the express purpose of preserving the property known as Milton’s Cottage in Chalfont St Giles and maintaining it as a place of historic interest and as a museum for objects connected with the seventeenth century poet and parliamentarian John Milton. The Trust owns Milton’s Cottage and the adjoining field on permanent endowment for such purposes. Milton’s Cottage is a Grade 1 listed building.
The Society of Friends of Milton’s Cottage (“The Friends “) is a separate charity pledged to raise money for the Trust and regularly donates funds, sometimes for specific projects.
## **Structure, governance and management**
The operation of the Charitable Incorporated Organisation is governed by its Constitution with its strategic objectives outlined in a three-year Forward Plan, reviewed annually. As a charity, registered with the Charity Commission for England and Wales, HM Revenue Customs have recognised Milton’s Cottage for tax purposes. Since the charity only uses its funds for charitable purposes no taxation is payable on income or gains. The overall responsibility for the operations of the Charitable Incorporated Organisation and its finances is with the trustees.
## **Appointment of trustees**
All trustees are circulated with invitations to nominate trustees along with the agenda for trustee meetings, advising them of the retiring trustees and requesting nominations where required. Efforts are currently being made to identity skills gaps to inform the appointment of future trustees as well as to ensure an effective succession strategy is in place for current trustees.
## **Trustee induction and training**
New trustees undergo in-house orientation to brief them on: their obligations under charity law and Charity Commission guidance on public benefit; the content of the Constitution; decisionmaking processes; current policies and procedures; the current Forward Plan and its identified aims and objectives; the recent financial performance of the charity. During the induction process they have the opportunity to meet other trustees. All trustees are encouraged to attend appropriate external training events and courses where these will facilitate the undertaking of their role.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 4
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Organisation**
The board of trustees, which can have up to 11 members, administers the charity. The trustees usually meet 3 times a year. To facilitate effective operations, the trustees have delegated authority for day-to-day operations of the charity to an Operations group, which consists of 4 elected trustees and the Business Director, appointed by the trustees to develop the strategic objectives of the charity. The current vision, mission and strategic priorities of the Trust, as defined by our Constitution and 2021 Forward Plan, are as follows:
## **Vision**
- To be recognised as one of the world’s leading literary heritage destinations
## **Mission**
- As outlined in the Trust’s Constitution, its mission is “To promote for the public benefit to advance the education and preserve, protect and maintain its structure, fabric and contents of Milton’s Cottage (Grade l listed) and its gardens (Grade ll registered) as a place of historic interest and museum dedicated to the life and works of the 17[th] century poet and parliamentarian John Milton.”
## **Strategic priorities**
- To preserve Milton’s Cottage, its collection and garden for future generations
- To increase visitor footfall and raise the profile of both John Milton and Milton’s Cottage
- To increase income to safeguard the future of Milton’s Cottage
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 5
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Performance against strategic priorities**
## **Increasing income to safeguard the future of Milton’s Cottage**
In recent years the Trust has embarked on an ambitious programme to diversify our income sources to support the long-term sustainability of Milton’s Cottage. Central to this process has been the launch of our _Paradise Maintain’d_ endowment fund in 2017. The value on investments is shown at cost £500,000 (current value on 31 December 2021 is £649,387) and is permanently invested to provide an annual income in perpetuity.
This income stream has proved invaluable during the pandemic, helping to offset our loss of visitor income at a time of compulsory closures and social distancing in public venues and visitor attractions. Other key achievements to increase income during 2021 include:
- Adherence to our Covid-19 emergency funding strategy - developed at the start of the pandemic – enabled us to end the year with a small surplus of £2,007
- Despite the difficult funding climate, we maintained 6 months free reserves - the minimum amount identified in our reserves policy – throughout the pandemic
- 2020 membership levels for _The Comus Circle_ were maintained this year, despite the difficulty of programming patron’s events during the pandemic
- Membership of _The Lycidas Society_ , the Trust’s legacy scheme, has also been maintained during this period – with every trustee now a member
- The Friends of Milton’s Cottage, an independent charity set up to support Milton’s Cottage, have once again provided invaluable financial support
- The Trust has received grant funding towards specific projects, including support from the Co-op Community Fund, The Mercers’ Company, Sasakawa Foundation, Culture& and an AIM Tackling Inequalities Hallmark Grant
- The Trust has received central government Covid recovery funding from Buckinghamshire Council, through their Leisure and Hospitality grant scheme
- Milton’s Cottage took part in the Big Give Christmas Challenge once again, raising over £20,000 in Champion Funds, pledges and online donations to support a new programme of outdoor learning in our literary garden for 2022 and beyond
- Every trustee has made a financial donation during the current financial year
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 6
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Increasing visitor footfall and raising the profile of Milton and Milton’s Cottage**
Milton came here to escape an earlier pandemic – the Great Plague – and complete his bestknown work, _Paradise Lost_ . As the world adjusts to living through a 21st century pandemic, we have explored ways to ensure Milton’s Cottage continues to provide a refuge for others.
Due to on-going Covid-19 uncertainties, we focused on outdoor, virtual and partnership events in 2021 to ensure we could continue to engage new audiences with Milton’s Cottage and Milton’s legacy. Key achievements to support this strategic priority include:
- Hosting a Milton-themed Zoom event in partnership with the Empire State Center for the Book, Princeton Club and Princeton University
- Working with Bucks Culture and other local partners to develop _Open Weekend_ – a countywide cultural celebration themed around storytelling
- Hosting the book launch for _Women (Re)Writing Milton_ in partnership with Durham University and Routledge, with in-person and virtual participants from around the world
- Co-producing _Paradise & Pandemonium_ in partnership with Vache Baroque Festival. This evening of music by Bach and poetry by Milton included readings by Simon Callow and Evvy Miller to celebrate the 350[th] anniversary of _Paradise Regain’d_
- To celebrate the 350[th] anniversary of _Samson Agonistes_ , we worked with The English Concert to present _Samson_ at St George’s, Hanover Square, as part of the London Handel Festival
- We participated in the postponed, online Chalfont St Giles Literary Festival through a Zoom workshop and performance (in partnership with Vache Baroque Festival)
- We took part in this year’s Chalfont St Giles Open Garden Day
- We held an Italian-themed event in the garden, with music and poetry - a dual celebration of the 700[th ] anniversary of Dante’s death & 350[th] anniversary of _Paradise Regain’d_
- The Friends of Milton’s Cottage hosted the Annual Milton Lecture online this year – with audiences from around the world - as well as an outdoor Pimms Party and Apple Day event
- With funding from AIM Biffa History Makers Award, we developed an augmented reality visitor experience, which we have beta-tested in partnership with local young people, residents and visitors to Milton’s Cottage. It is now available to download at the App Store
- An AIM Tackling Inequalities Hallmark grant is enabling us to work with Culture& and local community groups to explore the theme of _Paradise_ from multi-cultural and multi-faith perspectives as part of the 350[th] anniversary of _Paradise Regain’d_
- Milton’s Cottage was one of 24 international museums invited to speak at MuseumNext’s 2021 Digital Exhibitions Summit
- Milton’s Cottage features on the front cover of _Literary & Musical Houses of Britain and Ireland_ published this year by The Literary Map Company
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 7
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Preserving Milton’s Cottage, its collection and garden for future generations**
Milton’s Cottage received Arts Council accredited museum status in 2019 (accredited number 2404). Adherence to national accreditation guidelines is providing an on-going framework and guidelines to ensure our Grade I listed building, irreplaceable collection of Miltonic first editions and unique Grade II registered literary garden are preserved for future generations.
The trust has engaged in a number of projects during the last year funded by a variety of grants or donations as shown in the table below. These projects can last a number of years and do not coincide with the financial year ends. As a result unspent funding is carried over from year to year to meet liabilities in future years.
|s in future years.||||
|---|---|---|---|
|Project|Funding £|Expenditure
£|Balance £|
|HistoryMakers|£60,530|£60,530|£0|
|AIM TacklingInequality|£5,000|£116|£4,884|
|Nature writing|£5,000|£0|£5,000|
|CoopCommunityFund|£4,313|£0|£4,313|
|StanleySmithgarden|£2,400|£685|£1,715|
|Finnis Scottgarden|£5,000|£3,273|£1,727|
|Darkness Visible|£21,503|£10,698|£10,805|
|Milton's Garden|£20,079|£0|£20,079|
|AugmentingMilton|£19,524|£5,369|£14,155|
||£143,349|£80,671|£62,678|
## **Risk management**
The Trustees confirm that all major risks to which Milton’s Cottage may be exposed are identified and regularly reviewed through the current Emergency Plan and that systems have been established to mitigate these risks.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 8
_**Annual Report and Accounts Year ended 31 December 2021**_
## **Main activities undertaken to further the charity's purposes for the public benefit**
Promoting public benefit continues to be at the heart of all Milton’s Cottage activities, through the advancement of education, heritage, culture and the arts - and by opening up discussion about Milton’s life and works and his enduring influence on contemporary society as widely as possible.
As an independent museum we currently rely on visitor income, grants and investment income to protect Milton’s Cottage for future generations, but make our charges as low as possible and offer subsidised prices to students, older people, carers and people in receipt of government benefit payments. We also offer free admission to young people under the age of 16 and a wide range of free workshops, events and activities to reach those who might not otherwise visit and to ensure no-one is prevented from visiting on the basis of cost.
Increasing access is a key aim for Milton’s Cottage, from physical access to intellectual access, widening our audience base and making our resources more widely available. To support this, the trustees have recently instigated a programme of free community events and workshops to engage new audiences with Milton’s Cottage. They are looking at ways to improve physical access to Milton’s Cottage and are currently piloting a project to work with people with visual impairments to improve access for their peers.
Overall, the Trustees consider that the Trust satisfies the public benefit requirement as Milton’s Cottage is open to all members of the United Kingdom and worldwide, making its collections accessible for scholars and the general visitor, via its public programmes.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 9
_**Annual Report and Accounts Year ended 31 December 2021**_
## Receipts and Payments Account For the year ended 31 December 2021 (1 January to 31 December 2021)
|**Receipts andpayments 2021 and 2020**|||||
|---|---|---|---|---|
||**2021**|**2021**|**2021**|**2020**|
||**Unrestricted**|**Restricted**|**Total**|**Total**|
|**Receipts**|||||
|Donations|£7,260||£7,260|£2,924|
|Capital donations to Paradise
Maintain'd Endowment Fund||£2,000|£2,000|£50,574|
|Grants|£48,354||£48,354|£56,120|
|Museum Shopsales|£768||£768|£503|
|Visitor income|£2,862||£2,862|£1,648|
|Investment Income|£16,161||£16,161|£14,028|
|Bank and BS interest|£105||£105|£295|
|Gift Aid recovered|£1,889||£1,889|£5,799|
||£77,399|£2,000|£79,399|£131,891|
|**Payments**|||||
|Projects and training|£30,482||£30,482|£32,788|
|Museum Shopcosts|£395||£395|£263|
|Fund RaisingExpenses|£534||£534|£173|
|Utilities|£1,103||£1,103|£1,968|
|Office Expenses|£2,278||£2,278|£2,347|
|Fire and Security|£777||£777|£615|
|Maintenance|£1,423||£1,423|£502|
|Garden expenses|£7,506||£7,506|£6,423|
|Museum expenses|£968||£968|£571|
|Capital transfers to Paradise Maintain'd
Endowment Fund||£2,000|£2,000|£50,574|
|Insurance|£3,584||£3,584|£3,378|
|Bank Charges|£199||£199|£142|
|Staff Salaries|£25,588||£25,588|£24,909|
|Professional Fees|£555||£555|£1,503|
|Totalpayments|£75,392|£2,000|£77,392|£126,156|
|**Surplus/Deficit**|||**£2,007**|**£5,735**|
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 10
_**Annual Report and Accounts Year ended 31 December 2021**_
## Consolidated Balance Sheet
## At 31 December 2021
||**Consolidated**|**Consolidated**||**Consolidated**|**Consolidated**|
|---|---|---|---|---|---|
|||**31/12/2021**|||**31/12/2020**|
|**Fixed Assets**||||||
||||£0||£0|
|**Current Assets**||||||
|Stock||£650|||£1,024|
|Bank Account||£27,532|||£29,774|
|Paradise Maintain'd bank account||£2,093|||£4,495|
|BuildingSociety||£82,064|||£2,064|
|COIF Charities Investment Fund||£500,000|||£450,000|
|COIF Charities Deposit Fund||£63,000|||£105,000|
|COIF Deposit Fund Operations||£20,000|||£50,000|
|Total current assets|||£695,339||£642,357|
|**Current Liabilities**||||||
|||||||
|Grant Liabilities||£96,642||||
||||£96,642||£51,264|
|**Current Assets less Current Liabilities:**|||£598,697||£591,093|
|**Total Assets less Current Liabilities:**|||£598,697||£591,093|
|**Long Term Liabilities**|||£0||£0|
|**Total Assets less Total Liabilities:**|||£598,697||£591,093|
|**Capital & Reserves**||||||
|General Reserve||£33,604||||
|Paradise Maintain'd Reserve||£565,093||||
||||£598,697||£591,093|
The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO.
The financial statements on pages 2 to 16 were approved by the Trustees 29[th] March 2022 and signed on their behalf by:
Simon Avery - Chairman
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 11
_**Annual Report and Accounts Year ended 31 December 2021**_
## Paradise Maintain’d Endowment Fund
## Balance Sheet
## At 31 December 2021
**----- Start of picture text -----**
2021 2021 2020 2020
ASSETS
Fixed Assets
Total Fixed Assets £0 £0
Current Assets
Bank Account Paradise Maintain'd
Endowment Fund £2,093 £4,495
COIF Charities Investment Fund £500,000 £450,000
COIF Charities Deposit Fund £63,000 £105,000
Total Current Assets £565,093 £559,495
TOTAL ASSETS £565,093 £559,495
LIABILITIES
Current Liabilities
Total Current Liabilities £0 £0
TOTAL LIABILITIES £0 £0
TOTAL NET ASSETS £565,093 £559,495
Reserve
Paradise Maintain'd Reserve £565,093 £559,495
TOTAL Reserve £565,093 £559,495
**----- End of picture text -----**
The value on investments is shown at cost £500,000 (current value on 31 December 2021 is £649,387). Endowment Advisory Group has invested in the COIF Charities Investment account as shown in the above balance sheet. The Paradise Maintain’d Endowment Fund is to be a permanent invested of capital to generate investment income to cover the running costs of staff, Milton’s Cottage, collection and literary garden.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 12
_**Annual Report and Accounts Year ended 31 December 2021**_
The following accounting policies have been applied consistently in relation to items considered to be material to the accounts:
## **a) Basis of Preparation**
These accounts have been prepared under the historic cost convention. The accounts are in accordance with applicable accounting standards and in accordance with the Charities SORP 2005 (Accounting and Reporting by Charities).
## **b) Funds**
The day-to-day operations of the Trust are accounted for in the **unrestricted fund** including proceeds from entrance fees, surpluses generated from charitable trading activities, non-specific donations, museum running costs, payroll costs and minor maintenance costs.
Donations, grants or appropriations of Trust funds, which can only be used for specified purposes, are credited to the **restricted fund,** which is used to account for major expenditure on the building, literary garden, museum collection and the _Paradise Maintain’d Endowment Fund_ .
## **c) Fixed assets and depreciation**
Fixed assets, comprising the property known as Milton’s Cottage, its literary garden and adjoining land and the historic artefacts and works forming the museum collection, are not capitalised in the accounts. Valuation of these inalienable assets would involve expenditure beyond the means of the Trust.
Assets acquired for less that £2,000 are written off in the year of acquisition. Equipment, net of grants, not forming part of the above is capitalised and depreciated to projected residual value over its estimated useful life, as follows:
|Garden equipment|3 years|
|---|---|
|IT systems and equipment|2 years|
|Museum equipment|4 years|
## **d) Stock**
Merchandise trading stock is stated at the lower of the cost and net realisable value.
## **e) Grants**
As described in the Trustees report, the Trust engages in a number of projects where the grant funding is received in advance of expenditure which is then incurred in a later financial year. Any unused grant income to be expended later is carried forward and classified as grant liabilities.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 13
_**Annual Report and Accounts Year ended 31 December 2021**_
## Notes to the Accounts.
## **1 Donations and grants**
The Principal donations and grants gratefully received by the Trust were as follows:
|**Donations and Grants 2021**|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total||
||Funds|Funds|Funds|Funds|
||**2021**|**2021**|**2121**|**2020**|
|Paradise Maintain'd Endowment Fund||£2,000|||
||||||
|Totalgrants and donations||£2,000|£2,000||
|Grants|||||
|HistoryMakers 2020|£29,091||£29,091||
|BigGive|£10,763||£10,763||
|Government Covid Grants|£4,000||£4,000||
|Friends of Milton's Cottage|£4,500||£4,500||
|Other donations|£7,260||£7,260||
||£55,614|£2,000|£57,614|£50,574|
The government Covid grants of £8,000 through the ‘Restart’ Leisure and Hospitality scheme in response to the pandemic helped to offset the loss of income from the months of closure and loss of visitor income. Of this sum £4,000 has been incorporated in the 2021 accounts with the other 50% being reserved for 2022 to offset ‘Restart’ costs.
This table includes the Capital donations made towards the _Paradise Maintain’d Endowment Fund_ which are to be permanently invested for a minimum of 20 years from 2019. Only the investment income will be drawn down from the Endowment Fund to support the operating costs of the Trust.
## **2 Fixed Assets**
None
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 14
_**Annual Report and Accounts Year ended 31 December 2021**_
## **3 Transactions with Trustees**
During the year, no remuneration directly or indirectly out of the funds of the Trust was paid or was payable to any Trustee or to any person or persons known to relate to any of them (2020: nil).
During the year, no expenditure was incurred by Trustees (2020: nil) in relation to travel, subsistence and other expenses incurred relating to their duties as Trustees.
## **4 Staff**
The Trust employed one person during the year £25,588 (2020: £24,909).
There were eleven Trustees, five of whom live locally and form an Operations Group meeting regularly to make day to day decisions about the operation of the Trust. The Trustees in this Group cover Infrastructure, Museum and Collection, Horticulture and Fundraising and Finance.
## **5 Visitor numbers**
Visitor numbers over the years were as follows:
## 2014: 888 museum visitors.
2015: 956 museum visitors.
2016: 1,038 museum visitors and 329 visitors to the workshop and events programme.
2017: 1,053 museum visitors and 854 visitors to the workshop and events programme.
2018: 1287 museum visitors and 421 visitors to the workshop and events programme.
2019: 1080 museum visitors and 558 visitors to the workshop and events programme.
2020: 283 museum visitors and 60 visitors to the workshop and events programme.
2021: 359 museum visitors and 613 visitors to the workshop and events programme.
## **6 Investment income**
The Paradise Maintain’d Endowment Fund is invested with CCLA in both the COIF Investment Fund and the COIF Deposit account.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
Page | 15
_**Annual Report and Accounts Year ended 31 December 2021**_
## **7 Cost of fundraising**
£534 in 2021 [£173 in 2020].
## **8 Maintenance**
There was one maintenance project during the year in the vestibule to repair damaged brickwork due the wash from passing traffic in Deanway of £1,500.
## **9 Other sources of income**
Other sources of funds have come in 2021 and in previous years, either in the form of grants or donations, include the National Heritage Memorial Fund, Friends of the National Libraries, Museums Libraries & Archives Council, Heritage Lottery Fund, The B H Breslauer Foundation Inc, British Schools and Universities Foundation Inc, Buckinghamshire Council [the former Buckinghamshire County Council], Charities Aid Foundation, the former Chiltern District Council, Chalfont St Giles Parish Council, Coop Community Fund, Lady Hatch, The Big Give National Charity, The Earl Howe, J Paul Getty Jr General Charitable Trust, The Mercers’ Company, The Worshipful Company of Gardeners, The Radcliffe Trust, The Scriveners’ Company, The Foyle Foundation, The Pilgrim Trust and various other trusts.
All the Trustees made a financial contribution during the year and have committed to leave a legacy to the Trust.
## **10 Contingent liability**
Following the import of material for the History Makers project from the USA, a dispute exists with UPS due to their inaccurate calculation of the VAT due on this import to HMRC. This amounts to £4,255 with any attempts by UPS to recover this sum through their mistake are being disputed.
> Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
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## _**Annual Report and Accounts Year ended 31 December 2021**_
## **Independent Examiner’s Report to the Trustees of Milton’s Cottage Trust CIO**
I report on the accounts of the Trust for the year ended 31 December 2021, which are set out on pages 2 to 16.
## **Respective responsibilities of trustees and examiners**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.
It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention.
(1) which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
1[st] April 2022
## _Philip Lea-Wilson_
Philip Lea-Wilson Chalfont St Giles Buckinghamshire
Milton’s Cottage Trust CIO, 21 Deanway, Chalfont St Giles, Buckinghamshire, HP8 4JH 01494 872313 ● info@miltonscottage.org ● www.miltonscottage.org Charity registration number: 1163039
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