# **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| **1** ## **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 We received a few artefacts / historical documents to our collection, some of which were paid for by the museum.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. **4** **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:** **5** **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. **6** **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| **7** **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**| **8** **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**| **9**