Charity number.. 1163401
Company number CE004599
CARPET MUSEUM TRUST
UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2023

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
CONTENTS
Page
Reference and administrative details of the charlty, Sts trustees and adviser5
Tru5tees' report
Independent examinerfs report
Statement of financial actiwties
Balance sheet
Notes to the financial statements
8-15

CARPET MUSEUM TRUST
TRUSTEES ANNVAL REPORT AND ACCOUNTS 2023
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
Trusteès
E A Pugh-cook
l R Perrin
D H Freeman
G Cooper
D V Adam (Chairl
D Wheadon
D H Bri885
G Gilbert
J T Hopkins
Charity Règistèrèd Number
1163401
Principal office
Stour Vale Mill, Green Street, Kidderminster, WorcesteTshire. DYIO IAZ
Independènt Examiners
Ormerod RLrtter
Chartered Accountants
The Oaklev
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC UK
31 Church Stree(
Kidderminster
DYIO 2AY
Page I

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" DECEMBER 2023
The frustees present thetr annual report together with the financial statements of the charityfor the yearto 31st
Oeeember 2023. The Trustees confirm that the Annual Report and financial Statements of the charity complv
with the current statutory requirements, the requirements of the charity's governing document and the provisions
of the Statement of Recommended Practice ISORPI, applicable to charltles preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102lleffective
1st January 20191.
Oblects
The objects of the CIO are
To establish and maintain a museum andlor art gallery for the benefit of the public and to
advance educatlon for the benefit of the public.
Nothing in this constitution shall authorise an application of the property of the CIO for the
Purposes which are not charftable in accordance with section 7 of the Charities and Trustee
Investrnent (Scotlandl Act 2005 and Settion 2 of the Charities Act (Northern Irelandl 2008.
Powers
The CIO has power to do anythlng whleh Is calculated to further its objerts or is conducive or
incidental to doing so. In particular, the CIO has power to..
111 borrow money and to charge the whole or any part of its property as securityfor the
repayment of the money borrowed. The CIO must comply as appropriate with sections 124 and
125 of the Charities Att 2011, if it W15hes to mortgage land..
121 buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and
equip it for use,.
1315ell. lease or othen￿lSe dispose of all or any part of the property belonging to the CIO.
In exercising thi5 power. the CIO must comply as appropriate with sertions 117 and 119-123 of the Charlties
Att 2011 and adherence must be 8iven to the Code of Ethic5 of the Museum's Association and its Disposal Kit
35 15sued from time to time.
141 employ and remunerate such staff as are necessary for carrying out the work of the CIO.
The CIO may employ or remunerate a charity trustee only to the extent that it is permitted to do
so by clause 6 IBenefits and payments to charity trustees and connected persons) and provided
it complie5 Wlth the conditions of that clause,.
151 deposit or invest funds, ernploy a professional fund-manager, and arrange for the inve5trnents or other property of the
CIO held in the name of a nominee, in the same manner and subject
to the same conditions a5 the trustees of a trust are permitted to do by the Trustee Act 2000.
161 the Museum shall be a public museum for the exhibition of items of local, historical and educational interest and in
partlcular in any way connected to the manLrfacture of carpet5 and simllar textiles.
171 to hold and acqulre collethons for the long temi public benefit.
Objectivès and Aeilvltles
l. Policie5 and objectives
The purpose of the charity is to establish and maintain a museum andlor art gallery for the benefit of the public
and to advance education for the benefit of the public. The Museum. its Archives and Library were opened to
the publSc on 19 October 2012.
The Museum explains the history If carpet weaving in Kldderminster with worksng hand and power 100rn5.
demonstrations of spinning yarn and weaving, exhibitions and as515ted research facilities in its collections. It has
running programme of family, school and adult group visits. Due consideration has been given to the
published guldance on the Publlc benefit requirement under the Charities Act 2011.
Page 2

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31- DECEMBER 2023
2. Achievements al￿ performance
Key financial performance indicator5
The charity had income of £85.359 during the year, of which £17,998 was for restricted purposes.
b. Activities
Followng two turbulent year 2023 was to be to be a year of consolidation and the rebuilding and expansion of our activities,
this has not been p055ible since the Manager and of the rest of the staff left in March and April. Whilst at the same time the
four new members of stafF were appointed, two with Arts Fund finance, and the late spring was spent in training them. It was
decided to delay re-appointing the Mana8er.
It was decided to postpone the Exhibition for this year, to be funded by the Arts Fund until 2024.
Our new Communlty Engagement and Vlsltors and Retail As51Stant were tasked with building Ilnks with the community and
reorganizing the Shop and this has been successful with school visits. walks and talks and workshops and the Shop now
having a greater range of homemade items, produced by volunteer5.
Our new staff have also expanded the range of activities for chlldren. Sncluding Halloween and Christmas.
Partnerships have also been forged with other organi2ation, including 8iminEham City University, Wolverhampton
Embroiderers the Town Council, Kiddermin5ter Bid. ete.
The Corporate Partners scheme continues to grow and we have been able to recrult new members.
It has been a rollercoaster year, but thanks to the dedication of the team at the museurn we continue to offer enriching and
rewarding opportunities to all ourvisitors.
3. Financial Revièw
A larger budget deficit was expected, if we did not manage to raise new Sources of funding during the year. however due to
a change in circumstances the actual deficit is £3,344. The Manager left at the end of April and it was decided not to replace
her until additional funding was raise to cover the cost of this post. The Trustee Board decided that the Charity would be
managed by them until it was financially posslble to appoint a new Manager, Geoff Gilbert. tsur trustee responsible for the
Collection, agreed to take on this role. We were also able to obtaSn funding from the Arts Fund, under its Building a Resilient
programrne of £65.000 over two years to create Fundraising and Volunteer coordinator posts, stage the exhibition and
purchase equipment. etc. This is restricted fundin8 and cannot be used to cover nomial running cost.
¢. Going Concern
We consider that with additional funding in 2024. and the use of some reserves, we will still be able to operate as a going
concern but by the end of 2024 will have used all OUT reserves and so it 15 imperative we secure a stable and lasting additional
income source. We have been allocated consultants hours. paid for by WMMD to help us with fundraisinE and we also have
a member of staff, financed by the Art5 Fund. under its build a resilient future programrne. financed until April 2025 to do
Page 3

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 315T DECEMBER 2023
d. Reserves poliry
Thè Trustees have established the Char6ty's Reserves Policy with reference to the Charity Comrni5sion guidance ICC 191 and
accounting standards IFRS 1021. The intention is to have 3 months Unrestritted Reserves which would be £20,000 and cash
flow is monitored carefully on a continuing b851S to meet this objettive. At thé end of 2023 there were free reserves of
£25,532 and Designated Funds of £18,750 of which £17.500 is a Safety Net provision.
4. Struciure* governance and management
. Constitution
The nature of the governing document is a ChaTltable Incorporated Organi5ation entered on 3 September 2015.
The Deed regulates the election and appointment of the first and subsequent trustee5.
In 2018 the Charity Commission had recommended a new governance code for smaller charitie5. The trustees
embrace the aspirations of that code and have implementing its principles and PTaCtice5.
In 2019 the Conststution wa5 amended to include additional powers to be able to achieve accreditation during 2020.
b. Method of appointment or election olTrustees
The management of the charity is the re5pon5ibility cf the Trustees vtho are elected and co-opted under the tem)s of
the Charitable Incorporated Organisation.
c. Policies adopted for the induction and tralnlng of Trustees
All the Trustees use the Charity Commission 8uidelines for trustees as a reference.
d. Risk management
The Trustees Fove assessed the major risks to which the charity 15 exposed, in particular those related to the
operations and fInan￿S of the charity, and are satlsfied that SV5tems and procedures are in place to mitigate our exposufe
to the major risks.
5. Future developments
A summer Exhibition in 2024. is being planned. but the ernphasis will be on fundraising to meet potential deficit.
Thls report was approved by the TrLJStees at its meeting on 27th February 2024 and signed on their behalf bv..
Trustee
Page 4

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
INDEPENDENT EXAMINERS REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023
I report to the charity Trustee5 on my examination of financial statements of Carpet Museum Trust for the year ended
315t December 2023.
ResponslbSlltles and Basls of Report
As the Trustee5 of the charity wu are responslble for the preparation of the account5 n accordance with the
re4uirement5 of the Charities Act 20111.the 2011 Act'l.
I report in re5peet of my examination of the charity's accounts carried out under section 145 of the 2011 Art and
in carying out my examination I have followed all the •plicable D1￿ctIonS given by the Charity Comrnis5ion
under sectlon 14515llbl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect..
Your attention 15 drawn to the fact that the charity has prepared the accounts in accordance with Accounting and
Reporting by Charitie5'. Statement of Recotnmended Practice applicable to charitie5 preparing their accounts
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in
prefe￿nce to the Accounting and Reporting by Charities.. Statement of Recornmended Practice issued on l April
2005 which is referred to in the extant reEulations but ha5 been withdrawn.
l understand that this has been done In order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effectNe for reporting periods beginning on or after l January 2015.
accounting records were not kept in respect of the charity as required by section 130 ot the 2011 Act,. or
the accounts do not accord with those records,. or
the financial statements do not comply with the applicable requirernersts concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirements that the
accounts give a true and fair view wh>ch 15 not a matter considered as part of an independent exarnination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached.
Signed
Colm McGrory FCA
Ormerod Rutter Ltmited, Chartered Accountants
The Oakley.
Kidderminster Road
Droitwich,
Worcestershire
WR9 9AY
Page 5

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31" DECEMBER 2023
Unrestricted
Funds
2023
Restricted
Funds
2023
Totsl
Funds
2023
Totol
Funds
2022
Notes
Intome from:
Donation5 and Legacies
Activities for Generating funds
9,79)
9,790
25,671
43,005
141
43.146
42.659
Income Sources from Charitable ActlVLties
14,566
17,857
32.423
32.918
Totsl income
67,361
17.998
85,359
101,248
Expendlture on..
Fundratsln8
6.949
6,949
9,472
Charitable Artivltles
Museum
617
617
617
617
51.035
51,035
53,849
Cornmunity- Including School Visits
Collectlon
5.498
5,498
13,048
5.102
5.102
5.951
Bulldlng Conservation
Bullding a Resilient Future
Summer Exhibition
1,2
1.200
16.657
16.657
617
io,o(K)
Oral History Project
5,130
Retail Shop
617
2,120
142
2,262
2,834
Totsl outgoing resources
617
70.704
17.999
88,703
100,284
Net movement in funds beforÈ
Adjustments
Redurtion in Creditors
13,3431
13,3441
10,799
964
10,799
Depreciation Char88
IncomellEXpendl￿rel for the year
Retonclllation of Funds
131.1251
131.1251
131.125)
7,456
131.1261
123,6701
{30,161J
Total funds brought forward
36,826
1,223,048
1,259,874
1,290,035
Total funds carried forward
44,282
1.191.922
1,236,204
1,259,874
Page 6

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND Accoumfs 2023
BALANCE SHEET
AS AT 31sr DECEMBER 2023
2023
2023
2022
Notes
Fixèd Assets
Tangible Fixed Assets
1,191.923
.1.223,048
Current Assets
Stocks
Debtors
li
3.139
9.934
52,326
65,399
3,705
7,376
40,695
51,776
12
Cash at Bank and In Hand
Creditors
Amount5 falling due within one year
Net Current Assets
13114
21,118
44,281
1,236,204
36,826
1,259.874
Net Assets
Income Funds
Restricted Funds
Revenue
25,532
Revenue- Designated
Restricted
44,282
36,826
Capital
Revenue
1,191.923
1.223.048
1,191,922
1,236.204
Total Funds
1,259.874
The Financial Statements were approved by the Trustees and signed on their behalf.
The notes on pages 8 to 15 form part of these Financial Statements
Page 7

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST DECEMBER 2023
L Accounting Policies
Legal status
The Carpet Museum Trust is a CharStable Incorporated Organisation ICIOI. whose registered office
is Stour Vale Mill. Green Street, Kidderminster, Worcestershire. DYIO I￿1.
al Accounts Conventlon.
The accounts have been prepared in accordance with the Chariws Constitution, and 'Accounting and Reporting bv
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 IFR51021- (effective I" January 20191. The charity
is a Public Benefit Entity as defined by FR5102.
The accounts are prepared in Sterling, which 15 the fvnctional currency of the Charity. Monetary amounts in these firnancial
statements are rounded to the nearest £.
The accounts have been prepared under the historical c05t convention.
Capital grants are recognised as de5ign3ted incorne when ￿CeiVable and this departure from financial reporting standards is
necessary in order to show a true and fair view, in accordance with SORP IFRS 1021
Three types of fund are held, ￿stIl￿ed, general or designated safety net funds cannot be used wthout the approval of the
Directorslrrustees.
When posslble. expenditure is charged to the charitable acttvity to which it relates. Costs that cannot be dealt with in thls
way are apportioned as a percentage overhead. Apportioned costs are premises and office costs.
Going Cortern
At the time tsf preparing the accounts. the trustees had a reasonable expertation that the charity has adequate resources to
continue in operational existence for the fo￿Seeable future. Thus the trustees continue to adopt the going concern basis of
accounting in preparin£ the account5.
Governance Costs
Any costs that can be identified are charged direct. Staff time is allocated according to the percentage spent directly on
governance. together with a proportion of premises and office c95ts. In accordance wlth SORP IFRS 1021 governance costs
are now treated as overheads and allocated over the other services.
bl IwKoming resources
Grants ￿CeIvable
Grant5 made to finance the artivitie5 of the Museum are c￿dIted to the income and expenditure account in
the period to which they relate.
other incorne
Sale5 of servi￿5 are included in the income and expenditure account in the period to whlch they relate. orher
income, including donations, gifts and covenants are included as they were received.
Deferred income
Grants received In advance of the perlod In which the funder requires the expenditure to be applled will be
reflected in deferred income within the balance sheet.
Page 8

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST DECEMBER 2023
Resour¢es expended
All expenditure is accounted for on an accruals basis. All expenditure directly related to the provision of advice
servlces Is Included within charitable expenditure. Other co￿5 incurred have been allocated between fundraising and
publicity and management and administration as appropriate. whe￿ such costs relate to more than one lunctional
cost category they have been split on an estlmate of time or floor space basi5, a5 appropriate.
dl
Basic financial assets
Basic financial as5et5. which include debtors and bank balance5, are initially measured at transartion price including
costs and are subsequently carried at amortised cost using the effective interest method unle55 the arrangement
constitutes 3 financing transaction, where the transaction is measured at the present value of the future receipts
discounted at a market rate of interest. Financ4al assets classified as receivable within one ￿ar are not amort15ed.
Impairnient of financial assets
Financial assets, other than those held at fair value through income and expenditure. are assessed for indicator5 of
impalrment at each reporting date. Financial assets are impaired where there is objective evidence that. a5 a result of
one or more events that ocCUr￿d after the initial recognition of the financial asset, the estimated future cash flows
have been affetted.
If an asset is impaired. the impairrnent loss is the difference between the carrying amount and the present value of
the estimated cash flow discounted at the a55eVs original effective interest rate. The impairment Ioss 15 recogni5ed in
net income/ lexpenditurel for the year.
If there is a decrease in the impairment105s arising from an event occurring after the impairrnent wa5 recogni5ed. the
impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying
amount would have been. had the impairment not previously been recognised.
The impairment reversal is recogni5ed in net income lexpenditurel for the year.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expires or are
settled, or when the charity tran5fer5 the financial asset and substantially all the risks and reward of ownership to
another entity. or If some significant risk and reward5 of ownership are retained but control of the asset has
transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
gl
8asi¢ finanazl liabilities
Basic financial liabilitles. includlng creditors and bank loan5 are initially recognlsed at transaction price unless the
arrangement constitutes a financing transaction. where ihe debt instrument is measured at the present value of the
fLJture payments discounted at a market rate of interest. Finarhclal Ilabllitles classified as payable within one year are
not amortised.
Debt instruments are 5ub5equently carried at amortised cost, using the effective rate method.
h)
Derecognltlon of financial liabilitles
Financial liabilities are derecognised when the thariws contractual obligations expire or are discharged.
Page 9

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST DECEMBER 2023
Fimed assets and depreciation
Flxed assets are included * cost less depreciation. Depreciation is charged on a straight line basis
on the costs of the assets over their estimated usèful Ilves as follows..
Long-term leasehold property
over the life of the lease
FIKtures and fitting
IO% straight line
Office Equipment
33% Straight Une
The depreciation policy has been reviewed in accordance with FRS 102 and no change has been made
from the previous year.
The provision for depreciation of fixed a5sels is Shown as part of notes to the Statement of Financial Activities.
Fixed assets are eltherfinarnced from grants or by usin8 Reserves. When Reserves are used the cost is written as
a charge to Revenue, but when financed from a grant then the income resgurce 15 Shown in the Staternent of
Financial Activities and credited to a Desbgnated Capital Reserve.
Restricted fund5
Income received for the restricted purposes is included in a separate restricted fund agalnst which appropriate
expenditure is allocated. Restrirted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor that any unused funds may have to be refunded, if the
objective of the funding is met and there is no obli8ation to refund any SUTplus then those fvnds are treated as
unrestrirted.
kl
Designated funds
Deslgnated funds are allocated out of unrestricted funds by the trustees for speclfic purposes.
The use of such funds is at the trustees, discretlon.
Fund Accounting
Unrestricted funds can be used in accordance wsth the charitable objertives at the discretion of the trustees.
Cash Flow
The charity has taken advantage of the provisions in the SORP for charfties applying FRS102 Update Bulletin I not to
prepare a Statement of Cash Flow.
FurtheT emplanatlon of the nature and purpose of each fund is included in the notes to the financial statement
Taxation
The Carpet Museum Trust is registered with the Charity Cornmi55ion and under the provisions of the Income and
Corporation Taxe5 Act 1988 and exefflpt from liability to taxation.
Capltal Grants
Capital grants are recognized 35 income in ihe designated fund when receivable and a departure from
Financial Reporting Stsndards is necessary in order to Show a true and fair view in accordance with the Statement of
Recommended Practice SORP IFRS1021.
Page 10

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST DECEMBER 2023
pl
Penslons
All employee5 who qualrfy for a workplace pension have been enrolled in the Natlonal Employers
Savings Trust INESTI pension scheme and the Statutory deductions are made or other such
arrangement as agreed with employees.
StLKk5
Stocks Je valued at the lower of cost and net realisable value after makin8 due allowance for
obsolete and slow-moving 5toeks. Cost Includes all direct costs and an approprlate proportion of fSxed and
variable overhead5.
Rote of Volunteers
The charjty has in the region of 40 volunteers. The value of these is not incorporated within
these account5.
Income donatlons
Unrestricted
Funds
Restrfcted
Total
Totul
Funds
Funds
Funds
2023
2023
2023
2022
Donations
Total
9,790
9,790
9.790
9.790
25,671
25,671
A¢tlvltles for
Generatin8 funds
Unrestricted
Fund5
2023
Restrirted
Funds
2023
Total
Funds
2023
Totul
Funds
2022
Room Hire
Rental Incorne
Shop Sales
Mrs A Pugh Cook
Commission
Corporate Sponsorship
Fund Ra￿ing
Other Income
10.792
20,792
2.438
10,792
20,792
2,438
141
11,856
14,317
2,891
818
141
138
138
7,000
749
641
1,845
L845
HMG- Retail Support
Total
43,W5
141
43,146
42,659
Page 11

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31ST DECEMBER 2023
Charitable Income
Unrestricted
Funds
Restricted
Funds
Total
Funds
Totol
Funds
2023
2023
2023
2022
Admission5
Kidderminster Town Council
Community Artivitie5
Arts Fund
Roger & Douglas Turner Charitable
Trust
Edward Cadbury Trust
Williarn Cadbury Charitable
Trust
Elmley Foundation Trust
National Heritage Lottery Fund
AIA Grant
Other Income
10.370
10.370
9.692
8,160
2.138
2,196
2,196
16,657
16,657
2,0
5,130
1,2(K)
1,200
798
14.566
67.361
17.857
32.423
85,359
32,918
101.248
Total
17,998
6 Direct Costs
Museum
Commvn1ty
Collection
Retail
Arts Fund
Total
Pay, Nl and Penslons
Adv*rtiSin& Leafiets
Admi$5ionsftsrkhools
27.213
1.795
449
449
898
15.245
46.049
46.952
218
218
1.395
2.511
A￿alSoftWare
L.453
1,453
1.453
Building Conswv3tion
Card Reader Charges
ChildrRn's CraftMaterl&s
1,2CK)
89
88
177
161
COnse￿ation
206
206
35D
4,010
6,751
Exhibitknn Costs
Marketin8
Materialsftsr Loorn
151
20
70
Profes￿￿41 Servitts
1,659
332
ReI￿Sh￿ents
361
14
375
Room Hlre
2(N)
ststlonary, Equip & Fittin85
subscrip￿￿$
92
1,3S7
1,454
68
2,229
75
16
95
55
241
Ti¥vÈl Coachschool Vlsfts
540
Tutots Fees
181
Volunteers Expenses
Overheads
41
41
13
22.910
51.030
3,389
5,497
2,983
5,107
L628
2,265
5,956
6.947
36,866
88,703
31,663
100.284
Total
1,200
16,657
Page 12

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 315T DECEMBER 2023
7. Support Costs
m￿Bum
4,2BS
283
71
71
141
4,851
96
9,516
98
Bankcharges
Building MaintenanceCOntrdttS
34
14
2,221
1,202
343
328
134
65S
3,338
1,805
960
3.139
1,393
910
177
72
3S4
Examiners Fee
343
69
S9
136
Furnlture& Equlpment
Gas
42
42
i?
119
1.051
429
2,102
981
10.713
5,001
Insurance
3,328
182
491
200
4,760
434
rvices. etc
KidderminsterBID
181
3G
72
507
375
376
75
75
151
1,052
1,053
579
Payroll Proces&inB
Pfoles5ional Services
298
298
119
835
L138
53
1,138
53
228
225
456
3,188
149
Rates on Revaluètion
li
li
21
Sènltèry& Cleanlng
S*cuiity KeyHol¢Sin8 & Call Outs
Stationary & Postage5
340
20
IOD
sio
539
451
67
27
133
678
641
56
S6
li
li
22
IS6
163
42
43
17
120
121
74
TdÈtoms
82
82
163
J,143
2,IOD
241
Trainin8
Travel& Expenses
Wa5teOi5P05al
Water
128
129
26
26
si
360
Is
81
233
34
14
69
350
297
614
90
37
180
921
523
12,910
3,389
2.983
1,628
5,956
36.U66
31.663
Tangible Fixed A55ets
Long Term
Leasehold
Propertv
Fixtures &
Fittings
Equiyrent
Total
1st Janu?ry2023
1,556,255
346,904
36,742
1.939.901
31rt December2023
I,5￿,?55
346,904
36,742
1,939.901
DeP￿CIatIOn
lsilanuary 2023
Chargedyear
3151 0e￿rnber 2023
333.207
31.125
364,332
346,904
3fj.742
716,8S3
31,115
747.978
346.904
a6,742
BL￿k Value
Istlanuary2023
1.223.048
1,223,049
31stDecember 2023
1,191,923
1.191.923
Page 13

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31SF DECEMBER 2023
9. Net Income lexpendlture)
Thls Is stated after charglng
2023
2022
Depreciation of tangible fixed assets
owned by charity
Independent examiner5 Temuneration.
The Independent Examiner's remuneration amount5 to an Independent Examination fee of £96012022- £9101.
10. Net Movement of Funds
Net Movement
in Funds
Transfers
Between Funds
At 1.1.2023
At 31.12.2023
Restrlrted Funds
eneral Funds
otal
36,826
36.826
13,3431
13,3431
10,799
10.799
44,282
44.282
estrirted Funds
General Funds
Capital Funds
Totsl
1.223.048
1.223,048
1,259A74
131,1251
131,1261
134,4691
1,191.923
1,191,922
Total Both
10,799
1,236.204
The Capital Fund is the amount spent on renovation and fitting out of the bulldlng and is written down each year.
11. Stock
2023
2022
Merchandise
12. Debtors
2023
2022
Trade Debtors
Other Debtors
Prepayments and Accrued Incorne
Total
1,2(K)
26
1,275
661
13. Creditor5
2023
2022
Trade Creditors
Other Creditors
Accruals and Deferred Income
Total
4,172 14,768
233
182
Page 14

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 315T DECEMBER 2023
14. Deferred Income
2023
2022
I" January 2023
Resources Oeferred during year
Amounts Released from previous year
Deferred Income 31" December 2023
182
15.634
10,480
182
15. Flnantsal Instrumènts
2023
2022
Financial assets measured at amort15ed c05t
Financial liabilities measured at amortised cost
Financial assets measured at amortised cost comprising cash at bank and in hand, and trade debtor.
Financial liabilities measured at amort15ed c05t comprising trade creditors, VAT, PAYE and other creditors and accrual5.
16. staff Costs
2023
2022
50
Wa8es and salaries and pension contributions.
No employee received remuneration arnounting to more than £60,000 in either year. The key rnanagement personnel of the
charity consist of the Trustees and the Museum Manager. The total remuneration paid to the key management personnel
during the year was £10.035 Imonthsl12022- £27,640). Average staff during the year. 4 No Trustees received anv
remuneration12022 £NILI. During the year, no tiustees received any benefits in kind12 022- £NILI. During the year, no
Irustees received any reimbursement of expenses 12022- £NILI.
IY. Operating lease commitments
At 31 December 2023 the total of the Charit¢s future minimum lease payments ￿nder non-cancellable
Operating leases was..
2023
2022
Amount payable
After mole than 5 years
18. Related party transactions
There were rno related party transactions durlng the year.
Page 15