ALDEBURGH MUSEUM CHARITABLE TRUST
Charity number 1166357
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024
ALDEBURGH MUSEUM CHARITABLE TRUST
CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees Annual Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the financial statements | 6 - 9 |
ALDEBURGH MUSEUM CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | A Bone (Chairman) |
|---|---|
| A Barneston (Treasurer) | |
| S Fox (Aldeburgh Town Council representative) | |
| S Das | |
| J Ransome | |
| T Brown | |
| J Cook Manders | |
| J Cable (appointed 06/02/2024) | |
| Charity number | 1166357 |
| Registered office | Moot Hall |
| Market Cross Place | |
| Aldeburgh | |
| Suffolk | |
| IP15 5DS | |
| Independent examiner | Community360 |
| Winsley's House | |
| High Street | |
| Colchester | |
| Essex | |
| CO1 1UG | |
| Principle bankers | Unity Trust Bank |
| Brindley Place | |
| Birmingham | |
| B1 2HB |
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ALDEBURGH MUSEUM CHARITABLE TRUST
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
The Museum was open at weekends plus extra days in school holidays in January, February, March, November, and December plus every day from April to October. Visitor numbers were satisfactory and in line with our projections.
The museum making a small profit at the end of the year and we remain in a strong financial position at the end of the year in line with our strategy. The museum is run and managed by an effective team of enthusiastic volunteers and staff, who should be applauded for the museum’s success. During the year we hosted a temporary exhibition, a programme of events and activities and a very successful exhibition in an art gallery in the town to celebrate 200 years of Aldeburgh’s Lifeboats.
The museum shop has become more profitable. Items are regularly refreshed with new and varied items relatable to the museum collection and visitors. Particularly successful are our History Note booklets which give further information on the town of Aldeburgh and its history and people.
We received a few artefacts / historical documents to our collection, some of which were paid for by the museum. Once processed and conserved where necessary, these will be put on display for the public.
A collapse in the ship display cabinet required a couple of the artefacts to be repaired and the display cabinet to undergo some repair. This was an unexpected expense. A new Trustee joined the team, Mr James Cable as long standing member of Aldeburgh Lifeboat crew. His knowledge and experience was invaluable with respect to our Christmas Exhibition, Aldeburgh Lifeboats. Early 2024, we lost a member of staff, but were very successful in recruiting a new Supervisor.
PLANS FOR FUTURE PERIODS
In 2025 we will again be hosting a comprehensive activity programme to attract a wide range of visitors, school parties and groups. Events and activities are planned for school holidays, with the summer months hosting in house guided Smuggler Walks, storyteller on Moot Green and a stall at the Aldeburgh Carnival to sell museum shop stock and so promote the museum.
We will have a new temporary exhibition in the museum, based this time on a silver cup awarded to Lifeboatman James Cable following the rescue of the crew of a Finnish barque which sank off the Aldeburgh coast in 1893.
We also plan to hold another exhibition at Christmas time in an art gallery in the centre of the town on ‘Aldeburgh in World War 2.’
Signed
Date
2
ALDEBURGH MUSEUM CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Income and endowments from: Donations and legacies 2 Other trading activities Charitable activities Other income Investment income Total income and endowments Expenditure on: Fundraising and other trading activities 4 Charitable activities 5 Total resources expended Net income/(expenditure) Fund balances at 1 January 2024 Fund balances at 31 December 2024 |
Unrestricted Funds £ 5,313 7,197 21,021 14,490 1,074 49,094 4,122 42,793 46,915 2,179 55,185 57,364 |
2024 Total £ 5,313 7,197 21,021 14,490 1,074 49,094 4,122 42,793 46,915 2,179 55,185 57,364 |
2023 Total £ 4,093 7,228 20,190 12,074 244 |
|---|---|---|---|
| 43,829 3,795 41,364 |
|||
| 45,159 | |||
| (1,330) 56,515 |
|||
| 55,185 |
Notes on page 6 - 9 form part of these accounts.
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ALDEBURGH MUSEUM CHARITABLE TRUST
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Current assets Stock Debtors Bank balances 9 Current liabilities Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Income funds Unrestricted funds 12 Restrcited funds 12 |
2024 £ 1,831 4,330 56,117 62,278 4,914 57,364 57,364 57,364 - 57,364 |
2023 £ 1,086 1,772 59,382 |
|---|---|---|
| 62,240 7,055 |
||
| 55,185 | ||
| 55,185 | ||
| 55,185 - |
||
| 55,185 |
The trustees declare that they have approved the accounts above on:
Signed:
Date:
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ALDEBURGH MUSEUM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the proceeding year.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Incoming resources
Grants receivable are recognised in the accounts when conditions for their receipt are satisfied. Grants with conditions attached to their use are included in restricted funds. Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable.
Resources expended
All expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with the use of the resources.
Costs classified as governance relate to the general running of the charity and include the operations of the Board of Trustees and addressing constitutional audit and other statutory matters.
Resources expended include attributable VAT, which cannot be recovered.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds may be either endowment or restricted income funds, depending on the nature of the restriction. Where the fund is not an endowment fund and is held on trust for spending on specific purposes, it is known as a restricted income fund.
The resources (the assets and liabilities) of each restricted fund are held and maintained separately from other funds. This is in recognition of the circumstances in which the resources were originally received, and/or the restrictions on that fund that determine the way those resources are subsequently to be treated.
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ALDEBURGH MUSEUM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Going Concern
The trustees of the charity deem that there are sufficient funds available to continue operating on a going concern basis for the foreseeable future
Critical accounting estimates and judgements
In the application of the charity'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 ongoing 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.
There are no critical accounting estimates or judgements in the financial statements.
| 2. Donations and legacies Donations: General donations Gift aid reclaimed 3. Income from charitable activities General admission Group visits 4. Fundraising and trading expenses Shop purchases |
Unrestricted Funds 2024 £ 1,553 3,759 |
Total Funds 2024 £ 1,553 3,759 |
Total Funds 2023 £ 1,026 3,067 |
|---|---|---|---|
| 5,313 | 5,313 | 4,093 | |
| Unrestricted Funds 2024 £ 20,895 125 |
Total Funds 2024 £ 20,895 125 |
Total Funds 2023 £ 20,190 - |
|
| 21,021 | 21,021 | 20,190 | |
| Unrestricted Funds 2024 £ 4,122 |
Total Funds 2024 £ 4,122 |
Total Funds 2023 £ 3,795 |
|
| 4,122 | 4,122 | 3,795 |
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ALDEBURGH MUSEUM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 5. Charitable activities General costs Rent rates Staff costs Museum purchases Museum costs Main project expenditure Support Costs Printing, postage and stationery Telephone Marketing IT and software costs Insurance Subscriptions Independent examiners fee Bank & service charges Previous year adjustment Miscellaneous costs |
Unrestricted Funds 2024 £ 3,082 30,183 448 3,673 551 1,018 930 1,928 815 292 224 1,668 (2,359) 340 |
Total Funds 2024 £ 3,082 30,183 448 3,673 551 1,018 930 1,928 815 292 224 1,668 (2,359) 340 |
Total Funds 2023 £ 3,000 27,788 2,635 - 163 939 1,497 1,800 756 435 224 1,436 - 691 |
|---|---|---|---|
| 42,793 | 42,793 | 41,364 |
6. Governance costs
Governance costs includes payments to the independent examiner of £224 for examination fees
7. Trustees
None of the trustees received any remuneration during the year. Out of pocket expenditure was paid 2023 £4,674 (2023: £2,964).
| 8. Staff costs Gross wages Employer NI Employer Pension 9. Cash at bank and in hand Unity bank current Unity bank deposit 1 Year bond C & C Ipswich building society treasurer account Cash in hand |
2024 £ 29,740 - 443 |
2023 £ - - - |
|---|---|---|
| 30,183 | - | |
| 2024 £ 17,174 17,939 20,706 - 298 |
2023 £ 27,897 - 20,000 11,242 243 |
|
| 56,117 | 59,382 |
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ALDEBURGH MUSEUM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 10. Creditors: amounts falling due within one year Trade creditors Accruals |
2024 £ 4,690 224 |
2023 £ 5,007 2,048 |
|---|---|---|
| 4,914 | 7,055 |
11. Lease commitment
The charity entered into a long term lease with Aldeburgh Town Council in repsect of the Museum premises at Moot Hall Aldeburgh. The lease term is 30 years commencing 1 April 2018. Commitments under the lease are:
| Due within 1 year Due after 1 year within 5 years Due after 5 years 12. Fund analysis Unrestricted funds |
Balance at 1 January £ 55,185 |
Income £ 49,094 |
2024 £ 3,000 |
2023 £ 3,000 |
|---|---|---|---|---|
| 12,000 | 12,000 | |||
| 57,750 | 57,750 | |||
| Expenditure £ (46,915) |
Balance at 31 December £ 57,364 |
|||
| 55,185 | 49,094 | (46,915) | 57,364 |
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