## **MUSEUM OF HOMLESSNESS**
**INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
Charity Number: 1164091
Unit 1, 52 Lant Street London SE1 1RB
**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES**
Aderonke Apata Jane Cook Stephanie Grohmann (resigned February 2023) Sharon Heal, Chair of Trustees Katie Langford Rachael Minott Martha Spurrier Nuala Timoney, Treasurer (resigned December 2023) Ruban Yogarajah
## **REGISTERED OFFICE**
Unit 1, 52 Lant Street London SE1 1RB
## **CHARITY NUMBER**
1164091
## **BANKERS**
CAF
## **INDEPENDENT EXAMINER**
Matthew Brown, CPFA Adding Value Consultancy Ltd Bluecoat Chambers School Lane Liverpool L1 3BX
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **CONTENTS**
||**Page**|
|---|---|
|Chairs Statement|3|
|Report of the Trustees|4-13|
|Independent Examiner's Statement|14|
|Statement of Financial Activities|15|
|Balance Sheet|16|
|Notes to the Accounts|
17-25|
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **CHAIR OF TRUSTEES STATEMENT**
The past 12 months have been both an exciting and challenging time for the Museum of Homelessness (MOH).
We have responded to the pressures faced by our community, from the heatwave, to the cost of living crisis and government policy which has created a hostile environment for those seeking refuge, whilst at the same time developing and strengthening the museum for the future.
Two significant developments over the year have been becoming an employer, with a flat pay structure which represents our commitment to equity, and our work towards a permanent home for the museum.
Securing a home for the museum has always been an ambition for MOH, and staff and volunteers have worked hard, through all the highs and lows of negotiations, building works and fundraising, to make this vision a reality.
Our mission and values have guided us and throughout the year and we have been able to deliver against our core aims of educating on homelessness, taking practical action, making tomorrow’s history and fighting injustice.
We have worked with a range of talented artists to deliver and develop programming for our new space and we have directly supported our community by reaching out with water, ice and sun cream during the heatwave, which led to our emerging research on homelessness and climate change. And our continued work on the Dying Homeless Project has maintained the only public record and memorial of the lives of people who have died whilst homeless.
Our clear vision and the hard work of staff, volunteers and our Core Group has been rewarded by awards, press coverage, a growing public profile and, critically, funding. I would like to take this opportunity to thank all of the staff and volunteers and those that have had the bravery and vision to support our work. Whether you are an individual or a funder, thankyou for your commitment to this ground-breaking and life-changing museum.
The Museum of Homelessness is a beacon of hope and a model for how we might work with communities and do museums differently. We look forward to seeing you in person at our new museum over the coming year – in the meantime you can support our work and help to build a radical new community space here: Museum of Homelessness Support Us page — Museum of Homelessness
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
The trustees present their report and accounts for the year ended 31 March 2023.
## **CHARITABLE OBJECTIVES**
The Charity’s objects are, for the public benefit:
1. To advance education and undertake research on homelessness, including its history, causes, and impact, in particular but not exclusively by the provision of a museum on homelessness;
2. To relieve the needs of people experiencing or who have experienced homelessness and others who are socially excluded in England and Wales, in particular but not exclusively by the provision of education, training, grants and accommodation.
For the purpose of objective 2 ‘socially excluded’ means being excluded from society, or parts of society, as a result of one or more of the following factors: unemployment, financial hardship, youth and old age, ill health (physical or mental), substance abuse or dependency including alcohol and drugs, poor educational skills attainment, relationship and family breakdown, poor housing (that is housing that does not meet basic habitable standards), crime (either as a victim of crime or as an offender rehabilitating into society).
The trustees have had regard to the guidance issued by the Charity Commission on public benefit, and this informs all of our work.
Our Theory of Change, which was developed by the core group and the board of trustees in 2017, forms the basis for our work to tackle systemic prejudice and social stigma. This was revised during the previous financial year, and a new strategic plan developed which has framed our activities for the year.
## **SUMMARY OF ACTIVITIES UNDERTAKEN TO FURTHER THE OBJECTS**
Under our new strategic plan the community and board identified our mission, along with four pillars that define and set out our charitable activities. These are identified below and the relevant activity is documented within each pillar.
Our mission is to fight injustice and tackle inequality by unlocking creativity, making history and taking action. Our community leads this change.
People with experience of homelessness lead Museum of Homelessness to make change in four ways; educating on homelessness through our artistic work and public programme, taking practical action and providing direct support in the community, fighting injustice through research and campaigning and building the national collection for homelessness to make tomorrow's history.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **Pillar 1: Educate on homelessness:**
We make unforgettable, high quality artistic events, exhibitions & content that change perceptions
## **Success looks like:**
People who are or have been homeless are making creative work and content on our own terms. People who have not been homeless are less likely to dehumanise those that are. People are more likely to take action on homelessness.
## **How we do it (methods/activities)**
Object storytelling, Artistic programme, artist commissions & mentoring, workshops, talks, conferences, and public facing programme.
## **How we are delivering on this pillar**
- Our successful Arts Council and Paul Hamlyn Foundation applications have given us funds to commission 3 exceptional artists in residence – Liv Wynter, Jacob V. Joyce and Justin Brown (aka Surfing Sofas), these artists have been making new work during the year and being involved in the life of the museum.
- We began the development and co-design of the new object storytelling offer with our 4 x object storytellers, with a 2 day scratch at Theatre Delicatessen in February 2022.
- • We began the co-design of the public experience for the new site in our Meet and Dream community sessions in July, November, December, and February.
- We began the development of creative activity for families and children aged 0-5
- • Our Community Co-ordinator Bekki has undertaken Forest School training so we can create bespoke outdoor creative activity for homeless families.
## **Pillar 2: Take practical action today (Community action, healing and justice work)**
We take practical action and respond quickly to community need. We are flexible and go beyond what is expected of museums to meet people's needs and uphold human rights.
## **Success looks like:**
The museum has a strong community of talented, resourceful people taking care of each other. We explore and flatten power dynamics. People involved in MoH feel fulfilled and valued without being asked to change. Our community sets an example to society.
## **How we do it(methods/activities)**
Small practical actions such as support with travel or food, advocacy and support with navigating agencies, connecting people with legal support, connecting people with clinical support, creating spaces and activities for healing. Our approach is person centred, long term and focuses on depth of relationship not high numbers of people.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **How we are delivering on this pillar**
We continued with direct support for individual community members. For example, supporting community members move into their new homes and advocating on a multiagency basis for community members living with active addiction. This work is relational and long term.
During the heatwaves of summer 2022 we carried out rapid response direct action on the streets supplying water, ice and sunscreen across Southwark, based from the Outside Project community centre. This fed into our research and campaigning around homelessness and climate change (see pillar 4)
We worked in partnership with Streets Kitchen and Islington Council to put on a big Christmas Day event at Islington Town Hall. We decked the halls and did a three course slap up meal for 100 guests, with presents, games, an art table, performances and bingo.
Trauma informed work: We have been upskilling co-directors Matt and Jess with trauma informed coaching certification, Compassionate Inquiry training and Polyvagal Institute training. From summer 2022, we piloted trauma informed coaching sessions with front line workers from Islington and Haringey local authorities.
On the basis of results from this pilot we developed a strategy to embed this work into MoH’s delivery from 2023 onwards. This includes:
- Specialist training for 5 more MoH crew, including qualifying as certified trauma informed coaches to support people with their mental health.
- Development of a trauma focused leadership programme for workers and organisers – the first of its kind combining mental health support, psychoeducation and change making practice.
- Delivery of the leadership programme, including 6 months of trauma informed coaching for 10 emerging leaders.
- Therapeutic and trauma support for staff involved in developing and delivering this work.
- We were very grateful to apply and receive funding from the Sarah Jane Leigh Charitable Trust for this work in 2023 – 2025.
## **Pillar 3: Make Tomorrow’s History**
We collect and look after objects and archival records, building the national collection for homelessness, poverty and social action.
## **How we do it (methods and activities):**
Caring for our archival items, acquiring new archival items. Contemporary collecting of objects and stories about homelessness today.
## **Success looks like:**
People who are homeless and poor are represented fairly in the future, with a focus on first person accounts of what is happening today. Through this, society can learn and develop.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **How we are delivering on this pillar**
- We secured a National Archives scoping grant and carried out archive development work with Elizabeth Oxborrow-Cowan. This included a full assessment of our collection and archive, recommendations for it’s development and description of the contents and work with the community to define the value of the archive.
- We worked with the National Conservation Service on more focused work in relation to housing the archive at Manor House Lodge
- We set out a commitment to research and create a ‘People’s History of Finsbury Park’ as part of the opening offer for the new site. We commissioned 4 artists to support us to do that and secured funding from Historic England to deliver it.
- Whilst we wait for the new site, we have ensured that researchers can still access the archive. We have organised 3 special visits for researchers to access specific materials and we have worked with the archive to teach students at Central St Martin’s on two curatorial courses.
- The community have been working on a strategy to place the ‘Living archive’ at the heart of the new site. We have been workshopping what the archive means to us and how we will share it.
## **Pillar 4: Fight Injustice**
We carry out independent investigations & creatively campaign for the change we need. Our independent research and campaigns influence policy makers and the homelessness field to make changes to policy and practice.
## **How we do it (Methods / Activities):**
Research, investigation methods and campaigning. Working in partnership with Liberty, Liberty investigates, Public Interest Law Centre.
## **Success looks like:**
Policy is better and more effective for solving social issues Practices are challenged and changes are made in homelessness People are less likely to die preventable deaths, are treated fairly by systems of care, & the structural causes of homelessness are fixed.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **How we are delivering on this pillar**
During the year we continued delivering the Dying Homeless Project, investigating and documenting the deaths of everyone who dies homeless in the UK and maintaining our memorial. In particular we:
- We held 5-year reflection event with Maeve McClenaghan (project founder) and Martha Spurrier (trustee) to mark the 5-year anniversary of the Dying Homeless Project.
- MoH has also supported colleagues at trans day of remembrance and the annual memorial service for people who have died homeless at St Martin-in-the-Fields
- Public Interest Law Centre recently launched 2 publications which reference and feature our work. An event was held at the House of Annetta on 08 December with community members in particular to remember people who are from Eastern Europe and have died whilst street homeless in the UK.
- We worked with ITV NI on a story about deaths in Belfast, sharing data and research from the Dying Homeless Project.
- Continued work with bereaved parents. We supported the ‘Truth and Justice for Tina’ campaign through the work of the Dying Homeless coalition
New investigation:
- We undertook a rigorous 9-month investigation into homelessness and climate change in the UK. This is the first attempt to comprehensively map SWEP (Severe Weather Emergency Protocol) provision in the UK.
- This was inspired by our work on the ground during extreme heat where the lack of policy/provision became clear.
The findings from this publication became the report Severe Weather Emergency which will be published next financial year. The findings from the Dying Homeless Project were not published during the year as we were waiting for information from the Northern Irish Housing Executive.
We continue to ensure our research, campaigns and investigations are deeply connected to what is most urgent for people who are homeless and what is not being covered by larger charities. We do not have a dedicated staff member or team for this work and yet we are able to deliver campaigns that are respected and that inform policy and practice.
## **PUBLIC BENEFIT STATEMENT**
In considering the objectives and activities, the Trustees have considered Charity Commission guidance on public benefit to ensure that the organisation is meeting its public benefit requirements.
## **TRUSTEES AND THEIR APPOINTMENT AND TRAINING**
As per our constitution, all board meetings must take place with at least three trustees present.
The board meets at least four times per year. The board commit to at least one joint board and core group meeting in the year.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
The board actively maintains the charity’s policies and procedures and has designated safeguarding and data protection trustees.
We maintain a trustee risk and conflict of interest register related to board appointments.
Trustee invitations to join the board follow on from board discussion at meetings. The board consider suitability and skills needed for the role. The trustees commit to principles of open recruitment for future trustee positions.
Prospective trustees must attend one meeting as an observer before joining the board.
Once a trustee has been invited, the following procedure usually takes place:
1. Relevant information will be sent to the prospective trustee including previous meeting minutes, strategic planning documents and policies
2. Trustee information will be registered and with the charities commission.
3. After they have had an opportunity to read the guidance and the following information, prospective trustees will be requested to make an appointment for an induction where more information will be shared.
## **STAFFING**
Since beginning, the charity has operated largely through volunteering and later with freelance support for the organisation. In 2021, the terms and conditions of employment were designed collaboratively by the Core Group and Board.
“In order to actively create a more equitable world, Museum of Homelessness commits to a flat pay structure for all employees and freelancers. We will pay everyone the national average wage for museums no matter what their role is within the organisation. We review this policy annually.”
Jess Turtle and Matt Turtle are founders and co-directors of Museum of Homelessness. The co-directors work closely with the Core Group, staff and wider community and report regularly to the board.
During the period we welcomed Bekki Perriman as community co-ordinator 2 days per week.
## **CORE GROUP**
The charity has a commitment to devolved decision-making and to ensuring that direct experience of homelessness is central to all aspects of our work.
To this end, the co-directors co-ordinate and are part of the MoH core group. This group meet regularly to discuss operations, projects, creative content and strategy for the museum. The group has at least 80% lived experience of homelessness. The group can make recommendations to the board of Trustees regarding the direction and programme of MoH. For example, the Core Group designed the employment terms and conditions.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **ORGANISATIONAL DEVELOPMENT**
This financial year was intentionally focused on developing and strengthening the organisation after 18 months of emergency response followed by a significant large scale production Secret Museum. The Core Group and Trustees finalised a new strategic plan during the previous year and organisational resources were directed towards resourcing the plan.
Organisational development was a key focus for the year. With our new strategic plan in place, the co-directors were tasked with securing a building for Museum of Homelessness and fundraising to make the activities in the plan possible.
Our fundraising strategy was to first secure support from key ‘foundational funders’ to make the plan a reality, with Museum of Homelessness at Manor House Lodge at the heart of the applications. By summer of 2023 we were delighted to have funding confirmed from Rede, The Linbury Trust, The Oak Foundation, Paul Hamlyn Foundation, Arts Council England and Historic England. This funding totalled £538,000 over the first three years of the plan. We are very grateful for the support from these funders who also gave some much needed credibility to the plans.
## **Organisational development: Towards a new site**
During the year a lot of work went into confirming the museum’s new site.
Negotiations with Haringey council were ongoing and we signed Heads of Terms in July 2022, with lease negotiation led by our solicitors, Farrer & Co. These continued throughout the year and at the time of writing are ongoing.
We continued our contracting of professional surveyors, Lamberts, who supported Museum of Homelessness in ensuring the works carried out by the council would bring the site up to lettable standard. After lengthy negotiations, the council finalised a spec of works for the lodge to the value of £80,000 and increased their contingency budget to allow for extra repairs following our surveyors review. Works began in January 2023 and are ongoing at the time of writing.
We also worked with Structural Engineers Redston Associates to develop plans and costings for the removal of walls in the lodge to make the space fit for multi-purpose community and creative activity. We received a grant to make these plans happen from CSDS a local family trust in January 2023.
We began working with museum masterplanner Stephen Greenberg, the founder of Metaphor Design who has generously given time pro-bono to develop plans for the site with the community.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **Organisational development: Comms and stakeholders**
We undertook a stakeholder strategy over the summer and carried out a ‘soft’ announcement of the new site to key community members, MPs, Councillors, funders, donors. We also held 3 ‘coffee with the co-founders’ events. The project gained the support of local MPs Catherine West, Jeremy Corbyn and David Lammy and local Councillors Davis, Hakata, Abela, Worrall and Brabazon.
We also carried out a special Finsbury Park Stakeholders meeting to update all park stakeholders. With key stakeholders engaged, in September we publicly launched the project. The launch garnered significant press attention. Museum of Homelessness at Manor House Lodge was covered in the Evening Standard, the Metro, The Art Newspaper, Museums Journal, International Council on Museums, Haringey Community Press, Islington Tribune, Londonist, London on the Inside.
The project has been named one of the Time Out top four cultural hotspots in London opening in 2023 and has been listed alongside the Venice Biennale in the Guardian’s must see art architecture and design for 2023.
## **RISK MANAGEMENT**
The main risks to which the charitable company is exposed as identified by the Trustees have been considered and systems have been established to mitigate those risks.
## **GOING CONCERN**
The accounts have been prepared on a going concern basis. Having considered the charities reserves position, future plans and forecasts and operating costs for the next 12 months, the Trustees consider that on this basis the charity is a going concern.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **FINANCIAL REVIEW**
Incoming resources for the year totalled £283,088 (2022: £109,252) of which £101,995 (2022: £42,200) related to funding for projects upon which restrictions are placed. Total expenditure in the year was £163,556 (2022: £89,376), leaving a surplus for the year of £119,532 (2022: deficit £89,376). At 31 March 2023, the charitable company’s reserves were £235,088 (2022: £115,556) of which £72,280 (2022: -£6,046) represented restricted funds.
## **RESERVES POLICY**
Museum of Homelessness requires a level of free reserves to safeguard the organisation, protect future development and achieve the following:
- To expand current and develop new initiatives in line with the changing needs of the homeless community,
- To ensure that delays in the receipt of expected income do not interrupt services or cause serious financial difficulty for the charity,
- To ensure the charity has the ability to survive unexpected setbacks and problems arising from internal or external causes.
The Trustees have agreed to maintain reserves at 5 months of operating costs including salaries, overheads, therapeutic support and direct support as these elements are understood to have a direct impact on the charity’s beneficiaries.
In addition the trustees have agreed to work towards a £50,000 designated fund for maintenance and repair of the museum’s new site at Manor House Lodge.
As of 31[st] March 2023 the total of unrestricted reserves held was £162,808 which was within this target.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **TRUSTEES' REPORT**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITES**
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently
- observe the methods and principle in the Charities SORP
- 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 charitable company will continue as a going concern
- state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **APPROVAL**
This report has been prepared in accordance with the Charities Act 2011, Companies Act 2006, Accounting and Reporting by Charities; Statement of Recommended Practice (SORP 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2015).
This report was approved by the Board of Trustees on 5th December 2023 and signed on their behalf:
Sharon Heal
Trustee
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **INDEPENDENT EXAMINER'S STATEMENT**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
I report to the trustees on our examination of the accounts for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). The trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and 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.
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.
Matthew Brown, CPFA Adding Value Consultancy Ltd Accountants and Financial Management Consultants Date: …………..
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **STATEMENT OF FINANCIAL ACTIVITIES**
The Statement of Financial Activities includes all gains and losses recognised during the year. All income and expenditure relate to continuing operations.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **BALANCE SHEET AS AT 31 MARCH 2023**
||**2023**|**2022**|
|---|---|---|
|**Notes**
**CURRENT ASSETS**
Cash at Bank and in hand
**CREDITORS**
Amounts falling due within one year
**8**
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**FUNDS**|**£**
238,718
238,718
(3,631)
235,088
235,088|**£**|
|||115,556|
|||115,556|
||||
|||115,556|
||||
|||115,556|
||||
|Unrestricted Funds
Restricted Funds
**9**|162,808
72,280
235,088|121,602
(6,046)|
|**TOTAL FUNDS**||115,556|
The financial statements were approved by the board of trustees on ………..and signed on 22/01/24 their behalf:
Trustee
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **1. ACCOUNTING POLICIES**
## **1a. Basis of Accounting**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2015) (effective 1[st] January 2015) and the Charities Act 2011.
The accounts are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
## **1b. Fund accounting**
Unrestricted funds are the charitable company’s free reserves available for the Trustees to apply in accordance with the charitable company’s charitable objectives.
Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund.
## **1c. Income recognition**
All income is recognised once the charitable company has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donations and legacies comprise of donations and general grants which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain.
Other trading income relates to all fundraising events and is recognised when the amounts are certain.
## **1d. Expenditure recognition**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **1. ACCOUNTING POLICIES (continued)**
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.
Expenditure on charitable activities relate to the operation of the charitable company comprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charitable company.
## **1e. Tangible fixed assets**
Tangible fixed assets are stated in the balance sheet as cost or revaluation less accumulated depreciation. Capital expenditure of £100 and above is treated as a fixed asset. Depreciation is provided to write off the cost of each asset over its expected useful life as below:
Plant and machinery 25% per annum straight line basis
## **1f. Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
## **1g. Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **1h. Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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**MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **1. ACCOUNTING POLICIES (continued)**
## **1j. Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
## **1k. Derecognition of financial liabilities**
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
## **1l. Taxation**
Income and gains are exempt from taxation as they are received and applied for charitable purposes only. The charitable company benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.
## **1m. Critical accounting estimates and judgements**
In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **2. INCOME AND ENDOWMENTS FROM DONATIONS AND LEGACIES**
## **3. INCOME FROM CHARITABLE ACTIVITIES**
## **4. INCOME FROM INVESTMENTS**
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **5. EXPENDITURE ON CHARITABLE ACTIVITIES**
|**5. EXPENDITURE ON CHARITABLE ACTIVITIES**||
|---|---|
||**2023**
2022|
|Communications and digital
Events, projects and exhibitions
Direct Support & Access
Travel and subsistence
Rent and overheads
Bank Charges
Sessional Fees
Salaries
Accountancy and payroll fees|**Total**
Total
**£**
£
3,328
1,222
17,010
88,531
18,755
8,899
4,589
3,276
13,867
8,989
78
102
20,035
19,705
78,688
67,387
533
516|
|Independent Examination of accounts|900
0|
|Professional Fees|5,773
0
163,556
198,627|
|**Analysis by Fund**
Unrestricted Funds|**143,477**
79,164|
|Restricted Funds|**20,078**
119,463|
||**163,556**
198,627|
## **6. EMPLOYEES**
|Wages and Salaries
Social Security Costs
Pensions|**2023**
**£**
**73,269**
**1,952**
**3,467**
**78,688**|2022
£|
|---|---|---|
|||46,637
15,892
4,342|
|||66,871|
No employee earned £60,000 or more during the year (2022: Nil)
## **7. TRUSTEES AND RELATED PARTY TRANSACTIONS**
No Trustees were remunerated during the year.
No Trustees expenses (2022: nil) were paid in the year to cover travel expenses. There were no related party transactions.
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## **MUSEUM OF HOMELESSNESS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023**
## **NOTES TO THE ACCOUNTS**
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **9. RESTRICTED AND UNRESTRICTED FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Isla Foundation
National Herritage Lottery Fund
Arts Council England National Lottery
Historic England
Sarah Jane Leigh Charitable Trust
CSDS|**Balance at 1**
**April 2022**
**Incoming**
**Resources**
**Resources**
**Expended**
**Transfers**
**between**
**Funds**
**Balance at 31**
**March 2023**
**£**
**£**
**£**
**£**
**£**
**121,602**
**181,092**
**(143,477)**
**3,591**
**162,808**
163
0
163
0
0
(6,209)
9,800
0
(3,591)
0
0
40,000
19,551
0
20,449
0
4,143
364
0
3,779
0
17,000
0
0
17,000
0
31,052
0
0
31,052
**(6,046)**
**101,995**
**20,078**
**(3,591)**
**72,280**|
|---|---|
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