Collwally registration numb¢r'. 10102042 Charity registration numbu: 1168731 Museum of Policing in Devon & Cornwall (Fomherly kaown as South West Police Heritage Ttust) (A company limit¢d by 8yaran*¢) Atujudl Report and Ftnatieial Stat¢ments for the Yur Ended 30 April 2023 ThOmpSc￿ J￿Ther LLP Cb8rtered Accountants 28 Alexandra Terr&¢e Devoll EX8 IBD Museum of Pollclng in Devon & Cornwall Contents R¢ferett¢e Adtninistrative Dctails StraL¢gic Report Tntstee5' RerAJrt 3to5 Statement of Trnstce6' Rcspon6ibilitie¥ Independent Examinees R¢port SIBtement of Finonciul Activities Bllance Shcet Statement of Cllsh Flow8 10 Note¥ to thc FiD4ncial Statwnents 11 to E8 Museum of Policing ill Devon & Cornwall Reference and Admlnlstratlve Details Ch•irmR Mr S J Pe4ree T￿stee5 W A Skelly W A Tllpmatt (ffSI￿ed 8 Febrnary 20￿) S GoSco￿b R Ward P F Giles U S Richar&4 M J Laver A H Bi¢kley N Preston (resignrd 24 August 2022) RJ G Blair (resignEd 12 July 2023) M A W Aldrrson S Crane N R Powell S J Pearce M Rothw¢ll (appotnted 15 MaTcb 2023) l Andrews lappoinled 24 August 2022) Prlndp41 Office Okehampton Police ststion Exew Road OkehatnploiL EX20 INN Cothpatty R¢gAstration Nnmber 10102042 Charfty Regi8tration Number 1168731 Illdependellt Exallxiner ThoDRp50n J¢nll¢r LLP Chartcred Accountants 28 Alcxatth T¢rra¢¢ Exmouth Devon 81BD Museum of Pollcing ID Devon & Cornwall Strategic Report for the Year Ended 30 April 2023 The trustees, arc directors for thc purp08e8 of company law, present thvir 6trategic report for the y¢ar ended 30 April 2023, in ¢ompliaftce wth s414C of the Companie5 Acl 2006. Flftandal revlew Pollcy on rarerv A sigttifjcant t]wee-ycar grant from Devoll and Cornwpll Police from April 2022 ho8 allowed the Twst to 8PPOitLI a Chief Executiv¢ Officer and two or Tnon membws of staff makes a resery¢s policy essential th¢ Board ar¢ addressin8 thi& immcdiately. PrlKdpolfyndln2 SL•ur Devon and Comwau Police ¢ontinue to b¢ the princip418ourye of the Trust's fi￿dIti8, with our euThJt 8rani totalliny over £417.000 over the threethyear period endinK in March 2025. That Trnding is contingent on th? Trust rcportins annually to th¢ Offic¢ of thc Police aud Qimc Commi5sioncr that w¢ retain our charity and Company status ' provide the aTJllll813CCOiUIL% to the Forcc a8 well as the Chw7ty Commission ' provtde a s&tisfa¢iory review of our fJDance5 and progressions against our a8rced objectivei I*￿%1￿¢￿(POlIcY andfjbjethe Invesuneni policy to be developed with exiern81 support wb¢D fi￿d$ become available. PAn¢lplll 4ndwicertdnll¢s Prlncipuli.lsh l. Our ability to raise 8uiflCIffiL fiJn(L8. iiid¢pendcnt of the p)lioc grant to achievc our planned aclivitieg. As pllrt of the agreed bu￿.neSS cgse io the Police to work towards becoming more fuwicially sustainable. the Tn￿¢ agreed to work towards raising £25,000 each year. 2. Continucd ovllilability of police prcmiw to 8tor¢ thc colle¢ti¢)n. This is not considered ro be a b1￿h risk at this sr4ge. Thc strategic report WEB Rpprovcd by the th￿l¢c8 of thc charity on !.S . and signed on its beba]fby: Mr S J Pearce Page 2 Museum of Pollclng ID Devon & Cornw¥ll Trustees, Report fin￿1#1 stat¢m¢nts ofth¢ chyTitabl¢ wopary ￿ th¢ye4T old￿ 30 Ayil 2023. Truste W A Skelly W A Tupmllll (re8iglled 8 F¢th￿y 2023) S Goscomb R Ward P F Giles U S RieJllrd& M J Laver A H Bickicy N Preston (resi8ned 24 Au8wi 2022) R J G Blair (resigned 12 July 2023) M A W Ald¢r50ll N R Powell S J Pearce M Rothwell lappoitited 15 M4rth 2023) l Andrew8 (appo?nted 24 All8￿t 2022) ObJeetlveJ and *¢tlvltl ObJeusinc8s pl&n hag ttot been possible. Responsibilitie5 for exlernal incomc 8cner&tlon aT¢ th¢Tefore likely to fall to the Curator and CEO 80illB forw8rd. Also. H¢riia8e Loitcry Fun¢J has been operating in Covid-recovery mode to da￿, limiiing the criteria upon whidi tlje Museum Cdn raise its proflle with & view (D ttaftin8 future appli￿Li0ns. Howcver. the Muscum Membcrship sch¢m¢ provideg ihc Museum wilh a small bul loyal group of suppurters, And mode6t but CDnsislent income through subscriptlOD8 and donAtiolls. A comprch¢nsive external income 8eneratson SLra(e8y is in preparntion for 8rwJt years two and three. iDc]uding H¢rirage Lottery Fund when again welcomiti8 gr#nl appli￿llOJ￿. L4stly. th¢ MU￿￿ll hos responded with agitity to embrace th¢ power of new tecl]nolosry, n4)(withstAnding limited fmancial resourcc8. Pthlic CngjgE￿Cnt 18 always at th¢ front centrc of our operations. partiClliaTIy so ill 2022-23 wlth cotrmeDcemcnt of & pn)je¢t to digitisc our collection. Thc Muscurn ha5 embarked on jOiDt working with p8rtn¢r or8ani5ation SDS Heritage to brin8 digital vttsions of our archive and objcGts Coll￿¢S0n to the public by meaDS of d dedicated Micr(￿ website io launch in 2023-24. Inlcr&ctivc functionality will allow users to vicw, mgniplliatc, ulldcrstand and ettjoy our common policin8 hetitsge from the romfort of their own homcs as wrll as in Exctcr, Okehamplon aiid th¢ n¢w Tayl8￿Ck Bite. With the support of the OPCC al￿ Force in the curTCllt and future year8 the Museum will continuo to advatsGe itB mi&sioD Ot providiDg att efflcieni ￿tiVe. and successfully Dwwged hell￿¢ offerittg for the force and pu￿1¢. Page 4 Museum of Policlng In Devon & Cornwall Trustees, Report Policy on res￿¢$ A signifirAnt thr￿year grant from Devon and Cornwall Police from April 2022 to March 2025 b&$ allowed thrs Trust to appoint a Chief Exccutive OfficLY and two moye merobern of Staff. As 4 r¢sponsiblc cmploy¢r th¢ Tntst have crcated a R￿¢[W&S Policy and arc in the procos& populatin8 it wit sufficient ful￿8. Thc rcscrv&% policy will be rcviewcd aDnually attd adju8t¢d in accordan¢¢ with changes to the operating environment. Inv¢sunen¢ policies and Dbiectiv tkninB the year, the CEO alld Chair met with invcstttteDt adviserg to explijre optious for shon term inve8tll]ents. Rcccntty those advisers havc advised that the level of hjnds we could makc availablc would be iL8ufficieDt to makc such investments cost effective. WE are continuing to Purs￿ this as an option, particularly when we cciv¢ th¢ third year of our 8ranL Thr at￿lla1 r¢portwa8 appioved by the tsustee8 of the clwity ottili.F. .11.. aud siglled Oll its bchRlf by.. Mr S J Pcex¢ Chairnia Page 5 Museum of Policlng In Devon & Cornwall Statement of Trustees, Rcsponsibllities The tntstee4 (who ar¢ aiso the dtrectors of Museum of Policin8 in Devon & Cornwall for th¢ p￿￿o8¢S of compatty law) arc responsible for preparing the tr￿te¢s, T¢PQrt a]Jd the fllJanGial stslellThts in accordance with tbe Unlted Kittgdorn Accountin8 S￿Idards (United Kingilom Generally A¢c¢ptsd AccoulltiDg Ptactice) alld applicable law and re8ulalion5. Compwjy law requires th¢ ttusttts to prepare fll1￿cial staternents lor financial yehr. Under CoMp￿Y law th¢ tsustccs Must not approv¢ thc finaueial statcments utslcss thcy are Satisfied that tbey givc a truc and fair vicw of the st2* of affgirs of the charitablc company and of its ijicoming resourc￿ and application of reBources. including its illcou￿ and expenditur4 foT tha¢ period. Ill prcparillg these fJnaDcial statcrnents, the tsu&tee5 are reqwred to.. select suit8bte accountin8 policies and apply thern consisteDtIy. (therve the methods principl￿ in the ChAriti&% SORP.. Eke judgcm¢nts Bud estimates th&t are reasonable and pnJd¢tt4 statc whcthcr 8pplit&ble UK Aecountin8 Standards have becn followcl subject to any material depart discloscd and cxplaitscd in th¢ financiAI ststemcuts. and prcparc the f￿ancIal 8tAtements on thc going concern basiK UDICJS Et is inawopriate to prcsuroc that the charitable company will Contin￿ ill busilles8. Th¢ lrnslccs fjr¢ Tesp)nsiblc for kccping adequate ac¢ountin8 recor(ib' th&1 Are 8ufficirAt to sbow qlid explain the charituble company's trAn5a¢tions ond disclos¢ with reasonabl¢ accurucy &t any time th¢ fijwicial position of th¥ b8riL4ble compatty and cnabl¢ them lo cnsurc that ihc financial s(atrM￿ts comply with thc CL)Inpanics Act 2006. They are d60 Tespon&iblc for sHfc¥uarding the assers of the ch￿l¢able Compa￿ and h¢nc¢ for tskin8 re850nable $t¥p$ for the P￿￿[lOn detectiott of fraud and other irregulLrities. Page 6 Museum of Pollcfing In Devon & Cornwall Independent E12mlnerls Report to the trustses of Museum of Pollclng Sn Devon & Cornwa]I I r¢porton the &e¢ounts of the ¢l)arity for tbe year 30 April 2023 wbich are set out Oll PFdg¢B 8 to 18 . Respettlwe reJpoDSlbllltiei of irustees examlDer Th¢ twst¢cs (who arc also thc directors of tbc company for thc puryjoses of company law) are responsible for the preparauon of the accounts. The twsiees consider that an audit is not required for this ycar Under section 144(2) of thc Charitics Act 2011 (the 2011 Act) and that an illdcpctsdcnt rxamination is A￿d￿d. Havtng satisficd myself that th¢ ¢haTity is not 8ubject to audituDdeT ￿mpany1￿W is eligible for lim1q￿ent examination. It16 my iewnsibility to.. ¢Aamill¢ tb¢ acwunts uDd¢r swtion 145 of the 201 I kn¢: to follow the procedurrs laid down ill th¢ general Directions given by t￿¢ Charity CotllmisBion under section 145(5)(b) of th¢ 201 l Acr: and to stut¢ wh¢th¢r patticulor matt¢TS have Lome to Jny att#ntion. BASI8 of independent txomlntr's report My ￿amination was carried out in accordance with tho 8encrgJ Dir¢ction5 givrn by th¢ Charity Ci)mmi61ion. An examination includes a review of Ihc accounting rccoTds kepi by the charity and a compari8CTrn of th¢ accOull￿ presenied with those records. It also illelud¢s ¢ortsiderition of ony uDu8uai item5 or disclosuTe8 in the a￿Ounts. 8Dd s¢eking explanaiions fro￿ you ds tNstees coneemillg any su¢h mJtt¢rs. The procedure5 undertak¢n do not provi(k th¢ cvid¢ncL th8¢ would be required in an audit and COn5Equenily no opirkioll is given Bs th whether the accounts present a 'lrnc gttd fair view, Ind the report 18 limLted to th0￿ matters set o tn the stEtctncttt bttlow. lTrdepcndent exAmlner'i st*temen¢ ID ￿nneCtIOn wtth my ex9minatio￿ no n￿ter has come to my &ttthtion: (l) whicb BLve6 me reasonnble cause to believo thor iti any ma¢¢rltsl r¢spe¢t thv requirements: • to ke¢p ¥countiug rKordu in ￿￿orden¢t with jectityi 386 of th¢ Companieb Act 2006,. and to prepare acwunts whith accord with the accountinB records, comply with the accoulltin8 requireinenlB of section 396 of the CvtnpaDies Act 2006 And with the mtthods and principle8 of the s￿tement of R¢cornm¢nded Prnctsce.. A¢cuulltsn8 attd Reporting by Chari¢ies have not been met: or (2) LO which. in Tny opinloN attention should be drAw Lo be reached. order to enable a proper uttd¢r8tanding of the accounrs LLP Mrs n Lewis Chart¢￿d Acco Ittstithtr of Ch - Thompson JennerUP Accounts in England and Wale6 28 AL¢xandra r Exrnouth DEVO EX8 IBD Page 7 Museum of Pollclng ID Devon & Cornwall Statement of Flnancial Actlvities for the Year Ended 30 Aprll 2023 (Includlng Income and Eipendlture Account And Statement of Total Recognlsed Galns and Losses) unrest￿cted funds Total 2023 Nots Income Endowments from: Dot]ation$ 8nd legacies 133.695 133,695 Totsl lllcome 133 695 133.695 Ezpendltyre on: Charitable activities Othcr ¢xp¢nditur¢ 1109.291) l.864 (109.291) Total Expenditurc Net ittcome 111155 22,540 Net movuuent in fi￿dI 22.540 22,540 Reeontlllltlon of fun Totsl brou8ht fonvard Total funds ¢Arried forward 43,212 12 Unrestrlcted fundb. Toi¥l 2022 Note lThcom¢ and Endowments from: Donatioiis leB&cie8 68.413 Total tncome 68,413 E￿ondItUre on: Charitablc activities Other ¢xpcttdi(urc Total Expenditure Net ¢xpendityre (69,896) 1,285 (69,896) 1285 71,181 2.768 Net movement ID funds (2,768) 12,768) ReeoDclll*tlon offun Ttstal fi￿d6 brought fonvard 45,980 Total fi￿(ts carried forward 12 43,212 Ail ot'the cljdrity's activiti¢g dwive from colltilluing operatio1￿ during the above two periods. Th¢ finiLs breakdown for 2022 i8 8hown in tsofr 12. Museum of Policing ID DevoD & Cornwall Oiegi5tradon number: 10102042) Balance Sheet as at 30 Aprll 2023 2023 2022 Note Flied assdi Tangibl¢ Asser6 5.425 4.773 Current iM¢ts Debtsr5 Casb At bank and in io 1259 11,679 29.504 66.851 41,183 Cr¢dltor6: Arnounts fAllln8 due wlthln ome yeAr Net ellrrtTht ailets 60.327 38.439 Net of the charlty: U4rt8tr1etsd lll¢orn¢ fund• Ullrestricted OJnd8 65.752 Totsl fundi 12 For ibe fjnanciai yeaT ¢ndiDg 30 April 2023 the chotity w88 ¢lltitl￿ ¢0 excmption from audit tjnts 8CCtiots 477 of the Cotnp8nit8 Act 2006 relating to Stng11 ￿￿￿1¢8. Director8, r¢oonsibiliri¢4.' The rncmbera hove noi required the ¢harity to obtain an audit of ils accounts for the yw in que8tion in ac¢ord4nre with section 476: and The dirwtors ￿knOwledge their rcsponsibiliiiu for complying with the r¢quireLnent8 of thc Act witb r¢5PCrt to Accounting records aDd th¢ prep#r#tiott vf ￿￿O￿nts. These accounts have been prepar¢d iti a¢￿[dance with the provi8ions applicable to comE)XDies Subject to the stnall companics rryitn¢. ancial sta{￿nentS on pag￿ 8 (0 18 were approved by the trustees, and authortsed for is8u¢ on 8Dd &l￿d on their bebalf by: MrSJ Page 9 Museum of Polleing in Devon & Cornwall Statement of Cash Flows for the Year Ended 30 Aprll 2023 2023 21122 Nott Caih tIDWJ from operntln8 actlwlllt N¢t ¢ash ineoJnellexpeudibJr¢) AdJustm¢ntx to t￿h flows from nt)m4Ash Items Dcpreciation 22.540 768) 1,863 1.285 (1,483) 24.403 Worl(kng capltsl 8dJvstmentJ ' DeuYasellincrea5E) in debÉoTS Increllsel(decrease) in creditots 10 10,420 3.780 (10.806) (310 Net cash flows from op¢rating activtties 38,603 (12.599) C¥h from Investln% actlvllle$ 14Jrchase of tan8ibl¢ fix¢d w¢18 Not iDcreasel(decrea6e) in cash and c88b equival¢Dt8 C&sh cash equivolents at l May Casb ush equivalellts at 30 April 2.515 754 36,088 (13J53) 29.504 All of the ¢th tlows arr drrivcd from continuing operations during the two puiods. Page 10 Museum of Pollclng In Devon & Cornwall Notes to the Flnandal Statements for the Year Ended 30 Aprll 2023 I Charlty statul The ehwity is a ehArity limitrd by guarnDtee and C￿￿e4￿CntIY docs not hav¢ share capital. Each of the tn￿lee$ is Itable to wntribut¢ aD arnount nDt exceeding £1 ts)wards th¢ a55ets of the charity in th¢ ¢veot of liquidatio 2 Aetountlmg polleles Summary of slpllleant *eeountln8 polldeJ key &c¢ountlng eat1n￿t¢S The principal accounting policies applied in the prepardtion of thesc financial statements are let out bclow. Th¢5c policies hav¢ been coJJ8i8telltiy applied to the yeata Present￿ unlcss othcrwi6e stared St4t¢meD¢ ofcompllonee The kin&ncial 6thtements have been prepared ID accordonce with AccounuDg ReportittB by chariti￿.. Sratsmcnt of Rccomtnendcd Ptacticc applicable to chatitics prepDriti8 th¢ir accuunts in accordance with thB FiTtallcial Reporting Standard applicable in th¢ UK and Republic of treland (FRS 102) (¢ff¢ctive l January 2015) - (Cbarities So1￿ (FRS 1021), the Financial Rcporting Standard applieable in the UK and Republic of Ireland (FRS 102) and the CornpaDiCS Act 2006. Balli of prep*r•don Museum of PolicitiB in Devoft & ConNoll meets the defltiition ora public benefit cntity Und￿ fRS 102. Assets and liabiliti￿ are initiolly recognise41 at h58toricthl cost or transsLCtion vatue Unle￿ ochenvise 8tatei5 in thc rdcvant awouDting policy Dotes. The tru5t¢es consider that th¢r¢ ar¢ no mat¢rial uneertaintir% about the Ch￿1￿6 ability m ¢ontiou¢ as a going concern nor any 8i8nificani areafj of un¢ertaiDty that afftct the carrying value of assets held by the dwlry. Income and AII in￿ll)e 1$ r¢¢o8niscd oftce thc charity ha6 ¢tstitl¢meAt ty th¢ income. it 18 probablc that the ittcornc will bc re¢eiv¢d th¢ amoullt of the incomc rccdvllble can bc measured rellably. AMdlegocl¢$ Donations Itre reeogttised when Ihe tharity has been noiifLed in ￿ltill8 of both the amount and 8ett]ement datc. In the event th8t a donation is subject to condition8 that require i level of perforn)kn¢e by the charity ￿fOre the charity is cntidcd to the fuuds.. the income is deferred attd not recoLmised until either thosc conditions fidly mei or the IlJlfi]rncnt of thoBV Lollditions is wholty within the ¢ontrol of the charity utsd it Is probable tlwt thvse Conditions will be fulfillcd iti th¥ rcportingpcriod. Gr&Nts r•celMble (IRnts arc rcogDis¢d when the ¢harity bas an entitl¢ment to the fijnds any ￿)]￿ltiO￿l Jillked to thc grants havc bccn meL Where performa[￿ coDdilioDS we Al(athed to the grani and are yet to be MEL the itwom¢ is Tecognised ds L litbtlxty atld induda ott th¢ balance sheet as defe￿ed incorne to be re]eased Page 11 Museum of Polleing ID Devon & Cornwall Notes to the Ffinv4nclal St2tements for the Year Ended 30 Aprll 2023 Doiiatsdsèr¥lces Wknerc seNices or faciliti&g are provided to the charity as a donation that would normally bE purchased from our Suppli￿$, this benefit is iiicludcd itl the financial statcments at Il'8 fair valuc unlc&s it's fair valu¢ cannot be r¢liably mwured, then at the cosi to the donor or the resale value of goods thAt ￿e w be sold. Expendilurt All expenthtstye is recognised once there is a le8￿ or constsuctive obligation to that exp¢ndjtU￿ it is probablc scttlemcnt 15 Tcquired and the amount catt bc mc4wyed r¢liabty. All Losts are ¥llocAted to thc applicablc expenditurc hcadiDg that awe8ate simiIar eosts lo that category. Wh2r¢ costs C￿0t be directly attributcd to PHrricular hcadings they have been AlloCa￿d on a basi5 COtsSlStcnt witb the usc of rcsourccs, with ccntral staff cojts allocated on the basis of lime spent. gnd depreciation charbros allocated on the portion of the L8sct'8 US¢. Other suppon costs ar¢ allocated based the sprcad of staff Cost8. Chqrfioble aellvhlei Chuitablt CXPCllditure cotnprises th08e costs incurred by the charity In the delivcry of its aetivitie8 servic¢5 for it8 beneficiaries. It includes both costs that can be alloc4ted directly lo Bucb activitiu and th08c cnsts of en indirect na¢urL nece&4￿ to Kupi￿rt them. Support Costs Suppor¢ Costs in¢5ude centrnl fiJnction8 ond hllv¢ bcen allocated to activity cost c4tegoYteB on a basis coJ]6lffle￿t widi the use of resourc#, for ex8mple. thlloc41ing property costs by flooi. arells. or per capita, 5thft' costs by the tim¢ wt and other costs by thcirvs￿¢. GovernAnet toits T11￿C Includc th¢ ¢oNLi attributAblc to the chArity'N mpliano¢ wlth co￿titUd0n81 Olld Atatutory rcquircment4 In¢ludli)g iudit, ItrnteBlc rnanagemeiit And tr￿le¢s.1 meeilngB and rclmbur¥ed cxpenies. Taxltloll Thc chariry is considered to Pa#8 the t￿6 Sct out tn Parawaph I Schedule 6 of the Finance Act 2010 find Ihcreforc it mcet8 the definition of a charitsble compauy for UK corporation tax purp08e5. Accordingly. tho chority is potentially ¢xempi from taxation in resp¢ct of incorn¢ or capital gains received wthin categories ¢over¢d by Cbaptcr 3 Pllrt I l of the Corporntion Tax Act 2010 or Section 256 of the Tuxlltion of Chargcable Gains Act 1992, to t&e Cxtent that such incotn¢ or gains are applied excl￿￿1velY to Ch￿itable pu￿OS￿. T*nglble fixed as￿￿ Individual fixed ￿ets costin8 £0.00 or Tttore arc iDitially rccorded d¢ cosi, le$& subsequent accumulatrd depreci&tion and subscqucnt a¢cumuIated irnpairni¢nt losscs. Depreel*don *ud amortlB•tIoM Depreciation 18 providcd on tangible fixed assets so as to Myite off the cost or valllation. less ally utimated residual value. over their expected vs¢ffiJl economi¢ lifc as follows.. Asset da% Fixturcs and fittings Computer cquipm¢lll Deprecialion Thetbod and rnte IO% str&ight line basis 33.3% straight ITnc basis Page 12 Museum of Pollclng Ill Devon & Cornwall Notes to the Financial StAtements for the Year Ended 30 Aprll 2023 Trade debtors Tr8de debtors 8r¢ aDJounts du¢ from cu6tonws for Jncrthandise 501d or seryiccs p￿rOrnI¢d in the ordinary eours¢ of busirte8$. Tradc dcbtors arc recognised initially at the tr8nKaotion price. They ￿e subsequently measured at amortis¢d c05t usitig th¢ effecti￿ in(¢r¢st metho( les6 provision for impairm¢n¢. A provision for th¢ impÈinncnt of trad¢ ebtur8 is ¢8t4blisbed wh¢n there is objective evidence thatthe charity will Dot be able to collect all omounu thie acrording to ¢h¢ original tem15 of ¢h¢ receivables. Cash And cAih equfv8lents Cash and cash cquivalaits COTnprisc c&8h on hand and ca]1 d￿)￿sits. and uthcr short-lcm) h58hly liquid investsn¢nts that ar¢ readily convcrtiblc to 2 known emount of cash and atr subjcct to an xnsignificattt risk of changr ift valu TrAde credltors Tt4dr crcdilor5 are obliga¢ious to pay for goods or servlees have been acquired in the ordlnary course of bwiness frotD suppliers. Accounts payable stre cl¥ssifi¢d as cuttent liabilities if th¢ ch8riry does not have an unconditiond ri8ht, at thc cnd of the r¢portin8 period. to defer settl¢mcnt of the crcditar for at le85r twelve months aftcr the reportin8 dmte. If th¢r¢ is an uncollditiDnal riyht to defer Settlement fur at least twelve months after the reporting dat￿ they ore presented 4$ n0nwcU￿cnt liabilities. Trade Qreditors are recognised iDltlally &t the transaction ryioe ￿ld 6ub8cquently mcasured ht amorti8¢d using th¢ cffcGtive interest m¢thod. Borrowlnp Int¢r¢6t-bcaring borrowings str¢ initially recorded *t fait valuc. net vf traxsaction costs. Int¢res¢-bcaTing borrmviw are subscqucntly carried at amoiti5¢d cosL with the difference bctween the proceeds, nct of trdn%QCtion costs, and the Amount due on redemption r¢Cogni￿d as a ¢har8e to the Statcment of Financi&l AGtivitics ovcr the period of the relevant bDryoM Tnlere8t ¢xpense 18 rEco8ftiscd on th¢ besis of (he effeetivc intereot rn¢th￿ and 1$ in¢lu(led in inlertst ￿Y#ble nd simi14T charges. Borrowings are C￿lf1Cd as iurrcDL liabilities wJl¢s6 the charity hos all utteondiLionai right ￿ defer 8etLiemenl of the liabxlity for at leasi M¢lv¢ months aftcr ihe reponing dJl¢. Fund strllctUTe Unrestricted income fimds are general fimds that ate 8vailabl¢ for use at th¢ tru8tee8'8 discrction in fiuther8Acc of the objectives ofthe chtirity. Financlll Instruments Fitiancial &%setS 2nd fittanci&l liabiliti￿ arc Jecognised when the clwity bec0n￿S a paty to thc CODtracthal provisioA% of the instnllncnt. Financial liabilities and equiry itL8tsunents are cla5sxfied according to the substancc of the contractual anangernents entered inuTr. An equity in5trwnenl 18 any ￿ntr￿¢ that evidences a residual interesl itt the assets of the charity after dvdurting all of its liabilitio4. Page 13 Museum of Pomclng In Devon & Cornwall Not￿ to the Flnancial Ststements for the Year Ended 30 Aprll 2023 RecognldoN &ndNneos¥remenl All fillallcial as5¢ts and liabilities ar¢ initially m¢8sured at trangRCtLon price (includiti8 trdts8action costs), exccpt for those financial a56ets classified as at f4ir valu¢ through profit or10s8, which are initially measurcd at fair value {which is normally the traD5aclioo price excludiD8 traD￿ction costs), unless thc uraDgemettL con6Utuies a finatscing traDsaction. Ir all arrange￿Cllt eonstitutes a fll]8mcing trangaction, the financial &sset or financial liability is measuTcd al the pru¢nt value of die fvture payrnents di8countrd At o market rate of interest for a similar debt iJLgtn￿nl. Financial a8scts and liabilities ottly off5Ct in th¢ Statcmcnt of financial position Whe￿ and only when therc exiits A legally etjforccablc right to Set off ihe recognised amouDts and the charity itttends citbcr to scttle on net basi5. or to realise the 8SS¥t and 8¢tt1¢ thc liability simult￿Cou&ly. Financlal assets ore dereco8nised when Rnd only whcD a) the contrnctual Tights to the ca6b flow5 from the financt&l 3s8¢t exprre or ar¢ settled, b) the ¢hArity tran8ftrs to enother party substantially all of thc risks rewards of 0￿cl$hIP of the fuwici8] 8s$eE or ¢) the ¢lwiLy. de5Pilc hav5n8 rciaincd 8orne. bui IIOL &IL sigtiificant risk6 Rod r¢ward5 of ownership. has traDsfrriTd ￿ntrol orth¢ asset to another party. Financial liabili(ies are derecogniled only wh¢n th¢ obligation sp¢cified ia the contrmct is disch￿￿¢￿ cancelled or expire8. 3 Income from donAtloJhi and 14*d UnreslTlcted Tutal 2023 Total 21)22 Gener F)QDation8 and Icga¢ie5; Dotsations compani￿, and similor prO￿ed8 Grnttts, including cllpit41 Grants re¢civ¢d 1,155 1,155 5.713 132.540 132.540 133 695 133 695 Page 14 Museum of Po]icing ID Devon & Cornwall Notes to the Finandal Statements for the Year Ended 30 Aprll 2023 4 Atsaly81s ofgoverDanc¢ aBd 5UPPOrt costs Charft*ble •ctfvitles e￿end1thre Unrestricted fund TDtsI 21123 Bxsls of allocatlon Invoiced lllvoTced lllvoiccd Invoiced Iryvoiced tllyoiced luvoiced Invoiced Invoiced Invoiccd Invotced Jnvoiced Invoiccd tnvoiccd ttLvoiced luvoiced voiccd Invoiced General 21122 Wa8es and SaI￿les Tnsurance 46,05S 1,856 1,81)0 145 19 67 4,406 46,055 1,856 1,81K) 145 19 67 4,406 54,776 1,553 1.800 1.200 Prilltillg, postage alld statiot Subscriptions Travel and subsistence Consuitsncy Fee Repairs and maint¢Dall¢e Sundry Costs Promotional EXp￿Se5 Legal and Profesgionai Cotnputer Expctt Sraff PeLsion8 Bth cbarges Telephone Payroll fres Stsff Entertainment 55 1944 329 678 426 3,242 278 230 8,811 4I,8M 1,631 884 278 230 8,811 41,844 1,631 884 876 1,157 316 882 67 316 882 67 306 540 109,291 69,896 Covernao¢e costs Unrestrl￿ed fund5 Tot*1 2023 Tutal 2022 CeDeral Independent exgmitw fees Examination of thc financial statcmcnts 1,800 1,8(K) 1.800 1,800 S Trnsttes remuneration expenses No tru8tee4. nor any p¢rsons win¢oted wth ih¢rn, hav¢ r¢ceived any remU￿e￿al10n from the charity during the Page 15 Museum of Po]icing Devon & Cornwall Notes to the Financlal Ststements for the Year End¢d 30 Aprfl 2023 6 Staff c*ts The aggr¢g*e payroll c&tsive4r as follows: The Monthly average munber of person5 (ilKh￿ing seniLf rnanagrnt ttsrn) uryjloyed by the charity during th¢ ycu cxpte&scd as full time was as follows: 202J 2022 Cbaritable activitses No employee Tcceiycd emolum￿ ofnx)re than £60.CKK) duritig th¢ year. 7 Independent a*mlner's remwieratlon 2Q23 21J22 Exami￿0￿ of the fiD￿Cial stateme4 1,800 1.800 Taxation 9 Taagthle fix￿ *sstts equipment Tfjtal Cust At l May 2022 Additio 8,121 2,515 8.121 1515 A¢ 30 ApTiI 2023 Depre¢i*do At l May 2022 Charge for the year At 30 Aprtl 2023 10,636 10,636 3J48 1.863 3.348 1,863 5.211 5,211 el book vAlue At 30 April 2023 5.425 5,425 At 30 Aptit 2022 4,773 4.773 Pag¢ L6 Museum of Policlng In Devon & Cornwall Note8 to the Flnanc121 Statements for the Year Ended 30 April 2023 10 Debto 2023 2022 Trddc debtors Other debtors 80 11.599 1,259 ,259 11 Credltorg: AmOIIDts fwlllng due wltbln one year 2023 2022 Ttado crcditors Other iax&tion and 80cial Security Other credilors Pension scheme Creditor Ar￿a]S 3,457 887 437 316 1,863 109 2,198 12 Funds Other Re¥oure recognlied £￿thdea %alknIlO￿1ts) Balance •t 30 Aprll 21J23 Bxl*Dee It I M#y 2(122 IntODthig ve•pllrc¢i iIMrextrl¢ted Genernl Unre8trirled Funds 109 291 Oiher Regourcej re£ogDlied oipthde41 81th￿00￿e1) BAIADee At 30 Aprll 2D22 B￿lutt At I M*y 2021 Incomlllg Unre8trl¢ted funds Unrestricted Fund8 Thc specific putVOS¢5 forwhich the to be appliedarc as follows: Unt&8trirted 8ellerdl funds are fun& received for u8e by the Trustees in futtheranee of the charitable objectives. Page 17 Museum of Pollelng ID Devon & Cornwall Notes to the Ffinandat Statements for the Year Ended 30 Aprll 2023 13 An•lysl8 of nft 2ssets betweth funds Unreitr5cted General Total funds T2ngiblc fixed 888ets CIvTent assets Current li&bilitics 5.425 66,851 (6.524 5,425 66.851 6,524 Toiai net Assets 14 Related party traDs*etlo Thor¢ were no rdatcd paty tr4ll8act(¢)D8 itt tbe yeoT. Page18