**Charity registration number 1171266** **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023** **==> picture [192 x 24] intentionally omitted <==** **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **CONTENTS** ||**Page**| |---|---| |Legal and administrative information|1| |Trustees' report|2 - 3| |Statement of trustees' responsibilities|4| |Independent examiner's report|5| |Statement of financial activities|6 - 7| |Statement of financial position|8| |Notes to the financial statements|9 - 18| ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Alison Roberts - Honorary Chair Sarah Booth - Treasurer Wendy Price - Secretary Ruth Smith - Membership Secretary Sue Morton - Trustee Colin Pyrah OBE - Trustee David Rodwell - Trustee Robert Smith - Trustee Penny Cockill - Trustee Robert Williams - Trustee - (Appointed 21/03/2023) Gregory Pipe - Trustee - (Appointed 14/06/2022) **Patrons** The Marquis of Normanby The Marchioness of Normanby **Museum Mentor** Michael Turnpenny - York Museums Trust - (Appointed 20 January 2023) **Charity number** 1171266 **Principal address** Whitby Museum Pannet Park Whitby YO21 1RE **Independent examiner** N Clemit ACA, FCCA JWPCreers LLP Chartered Accountants Genesis 5 Church Lane York YO10 5DQ **Bankers** HSBC Bank Plc 4 Baxtergate Whitby North Yorkshire YO21 1BD **Invesment Managers** Brewin Dolphin 12 Smithfield Street London EC1A 9BD **Financial Advisors** Anderson Brown (Whitby) Ltd Victoria House 7 Victoria Square Whitby North Yorkshire YO21 1EA - 1 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ The trustees present their annual report and financial statements for the year ended 30 September 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by 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 published in October 2019". The legal and administrative information page forms part of this report. ## **Objectives and activities** The Society’s objects are to educate the public in the interests of Science, the Humanities and Literature by the provision of a Museum, a Library and Archives and by such charitable means as may be practicable. In pursuit of that overall objective, the Society continues to maintain and develop the Museum, which continues to attract visitors from all parts of the UK and overseas, including a number of educational visits from school parties. It is staffed by a team of volunteers, including the sectional curators, supported by paid part-time staff comprising a documentation officer, a Museum manager, an Administration Assistant and three museum assistants. The Library and Archives, amassed over the Society’s life, amount to over 7,500 volumes covering a wide range of topics of local interest and at least as many archives. The Museum also has some 15,000 photographs, pictures and prints, and roughly 600 maps. Stewardship of the photographs, pictures and maps is shared with the Library and Archive. The Museum, Library and Archive has approximately 90,000 artefacts in total. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** Our Admission figures for the period October 2022-September 2023 have shown an increase of 12.5 per cent over the previous year. Our social media presence on Facebook, X (formally known as Twitter) and Instagram has increased with regular postings to raise the Museum’s profile. Visitors to our website and other social media outlets continue to rise. Our temporary exhibition entitled 200 Years of Collecting about the founding of the Whitby Literary and Philosophical Society and the work of the museum was very popular. The Museum Supporters Scheme established at the end of 2017 continues to attract new Museum Patrons. Further Patrons are being sought and an increase in membership actively promoted. ## **Training** The trustees remain aware of the importance of training and arrange specific training or take advantage of opportunities as they occur. Several training courses have been attended by staff and volunteers covering a number of topics such as manual handling; working at heights; collections documentation; disposal of artefacts and audience development. Staff also attend regular museum industry meetings. ## **Financial review** During the year income received was £364,648 (2022: £378,729) and £314,293 was spent (2022: £328,073). This resulted in a surplus of £50,355 (2022: surplus £50,656). Gains on Investments of £7,280 (2022: losses of £48,356) leaves a surplus of £57,635 (2022: surplus £2,300). We are grateful to the Thomas William Varley Roe Deceased Charity for continuously supporting us. - 2 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **Reserves policy** The Society has funds from historic donations and legacies which are invested to maintain sufficient reserves to enable the Society to be sustainable. Additional funds will be held in a quick access account to meet immediate needs. The free reserves at 30 September 2023 were £609,203 (2022: £522,326). ## **PLANS FOR FUTURE PERIODS** A Forward Plan is under continuous review and a new version covering 2023-2026 has been finalised. Continuing conservation work is planned in the coming year to preserve the collections for future generations. Generous private funding is enabling us to continue to upgrade specific facilities and functions to improve certain aspects of the Museum and its operation including new cabinet lighting and refurbished rear entrance with glass sliding inner door to improve level access to the building. Staff regularly attend regional meetings with other museums, currently online. Training opportunities will continue to be sought in the coming year. ## **Structure, governance and management** ## **Governing Document** The Society is governed by its Constitution, approved by the Members on 12 March 2017. ## **Summary of Powers** The Society’s Constitution provides for the appointment of a Committee, whose powers include: - Power to raise funds - Power to acquire and dispose of the property of the Society - Power, subject to any consent required by law, to borrow money - Power to appoint advisory committees ## **Nominees** As a CIO, the Society is now a legal entity that is able to hold its own investments and property. The Committee may also permit any investment held by or in trust for the Society to be held in the name of a clearing bank, trust, corporation or any stockbroking company which is a member of the International Stock Exchange as a nominee of the Committee. The investments are managed by a nominee company. The trustees' report was approved by the Board of Trustees. Alison Roberts - Honorary Chair Date: 23 January 2024 - 3 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 4 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** I report to the trustees on my examination of the financial statements of Whitby Literary and Philosophical Society (the charity) for the year ended 30 September 2023. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of England and Wales, and the Association of Chartered Certified Accountants, which are listed bodies. 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: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. ## **N Clemit ACA, FCCA** JWPCreers LLP Chartered Accountants Genesis 5 Church Lane York YO10 5DQ Dated: 29 January 2024 - 5 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **CURRENT FINANCIAL YEAR** |**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income**
Donations and legacies
**2**
158,214
-
37,920
Charitable activities
**3**
100,266
-
16,532
Other trading activities
**4**
38,055
-
-
Investment income
11,894
-
1,217
Other income
550
-
-
**Total income**
308,979
-
55,669
**Expenditure**
Raising funds
**5**
15,989
-
6,752
Charitable activities
**6**
199,476
68,862
23,214
**Total expenditure**
215,465
68,862
29,966
Net gains/(losses) on investments
7,280
-
-
**Net income before transfers**
100,794
(68,862)
25,703
Gross transfers between funds
(12,000)
87,242
(75,242)
**Net income/(expenditure) for the year**
**Net movement in funds**
88,794
18,380
(49,539)
Fund balances at 1 October 2022
523,495
436,669
137,341
**Fund balances at 30 September 2023**
612,289
455,049
87,802|**Total**
**2023**
**£**
196,134
116,798
38,055
13,111
550
364,648
22,741
291,552
314,293
7,280
57,635
-
57,635
1,097,505
1,155,140|Total
2022
**£**
240,643
101,400
29,591
6,861
234
378,729
16,481
311,592
328,073
(48,356)
2,300
-
2,300
1,095,205
1,097,505| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **PRIOR FINANCIAL YEAR** |**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income and endowments**
Donations and legacies
**2**
115,143
-
125,500
Charitable activities
**3**
91,400
-
10,000
Other trading activities
**4**
29,591
-
-
Investment income
6,809
-
52
Other income
234
-
-
**Total income**
243,177
-
135,552
**Expenditure**
Raising funds
**5**
14,072
-
2,409
Charitable activities
**6**
181,655
65,234
64,703
**Total expenditure**
195,727
65,234
67,112
Net gains/(losses) on investments
(48,356)
-
-
**Net income before transfers**
(906)
(65,234)
68,440
Gross transfers between funds
(443,873)
501,903
(58,030)
**Net income/(expenditure) for the year/**
**Net movement in funds**
(444,779)
436,669
10,410
Fund balances at 1 October 2021
539,252
429,022
126,931
**Fund balances at 30 September 2022**
94,473
865,691
137,341|**Total**
**2022**
**£**
240,643
101,400
29,591
6,861
234
378,729
16,481
311,592
328,073
(48,356)
2,300
-
2,300
1,095,205
1,097,505| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 30 SEPTEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**12**
**Current assets**
Stocks
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**15**
Unrestricted funds - designated
**16**
Unrestricted funds - general|**2023**
**£**
12,151
30,689
312,069
354,909
(40,915)|**£**
443,049
398,097
841,146
313,994
1,155,140
87,802
455,049
612,289
1,155,140|**2022**
**£**
7,189
10,269
320,396
337,854
(13,074)|**£**
436,669
336,056| |---|---|---|---|---| |||||772,725
324,780| |||||1,097,505| |||||137,341
865,691
94,473| |||||1,097,505| The financial statements were approved by the Trustees on 23 January 2024 Alison Roberts - Honorary Chair Sarah Booth - Treasurer - 8 - **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** Whitby Literary and Philosophical Society is a charitable incorporated organisation registered in England. ## **1.1 Accounting convention** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by 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 (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies are consistently applied to all years presented unless otherwise stated. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** The charity maintains a general unrestricted fund which is expendable at the discretion of the trustees in furtherance of the objects of the charity. Designated funds are set up by the trustees for a variety of purposes and are detailed in note 16. Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the funder or when funds are raised for a specific purpose. ## **1.4 Income** All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacies are received by way of grants, donations and gifts and are included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Income from investments is included in the year in which it is receivable. ## **1.5 Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Raising funds comprise the costs associated with attracting donations and legacies. The costs of trading for fundraising purposes includes the charity’s shop. Charitable expenditure comprises those costs incurred by the charity on the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. - 9 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Expenditure on fixed assets costing more than £1,000 is capitalised. Assets are depreciated over their estimated useful lives on a straight line basis as follows:- |Leasehold property|25 years| |---|---| |Leasehold improvements|25 years| |Fixtures|20 years| |Furniture and equipment|8 years| |Computer equipment|4 years| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Stocks** Stock is valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held at call with banks. ## **1.10 Leases** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged in the statement of financial activities on a straight line basis over the period of the lease. - 10 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **2 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2023**
**2023**
**£**
**£**
Donations and gifts
8,866
30,420
Legacies receivable
124,310
-
Membership fees
8,718
-
Gift aid
16,320
7,500
158,214
37,920
**Donations and gifts**
Patron Donations
5,100
-
Development donations
-
30,000
Government grant
-
-
Other donations
3,766
420
8,866
30,420|**Total**
Unrestricted
Restricted
funds
funds
general
**2023**
2022
2022
**£**
£
£
39,286
10,936
100,500
124,310
83,000
-
8,718
9,008
-
23,820
12,199
25,000
196,134
115,143
125,500
5,100
3,265
-
30,000
-
100,000
-
6,000
-
4,186
1,671
500
39,286
10,936
100,500|Total
2022
£
111,436
83,000
9,008
37,199| |---|---|---| |||240,643| |||3,265
100,000
6,000
2,171| |||111,436| ## **3 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Income from admissions|118,938|108,253| |Less amount paid to Whitby Town Council|(70,265)|(64,227)| |Thomas William Varley Roe Deceased|50,200|47,201| |Library sales|1,393|173| |Grant income|16,532|10,000| ||116,798|101,400| |**Analysis by fund**||| |Unrestricted funds - general|100,266|91,400| |Restricted funds|16,532|10,000| ||116,798|101,400| - 11 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **4 Other trading activities** |Museum shop
Café fee
Room hire
**Raising funds**
**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2023**
**2023**
**£**
**£**
Operating charity shops
11,513
6,752
Investment management
4,476
-
15,989
6,752|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
29,159
22,652
7,015
6,399
1,881
540
38,055
29,591
**Total**
Unrestricted
Restricted
Total
funds
funds
general
**2023**
2022
2022
2022
**£**
£
£
£
18,265
9,152
2,409
11,561
4,476
4,920
-
4,920
22,741
14,072
2,409
16,481|**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2023**
2022
**£**
£
29,159
22,652
7,015
6,399
1,881
540
38,055
29,591
**Total**
Unrestricted
Restricted
Total
funds
funds
general
**2023**
2022
2022
2022
**£**
£
£
£
18,265
9,152
2,409
11,561
4,476
4,920
-
4,920
22,741
14,072
2,409
16,481| |---|---|---| |||29,591| |||Total
2022
£
11,561
4,920| |||16,481| ## **5 Raising funds** ## **6 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Direct costs|62,117|55,925| |Staff costs|105,954|76,342| ||168,071|132,267| |Share of support costs (see note 7)|120,945|176,743| |Share of governance costs (see note 7)|2,536|2,582| ||291,552|311,592| |**Analysis by fund**||| |Unrestricted funds - general|199,476|181,655| |Unrestricted funds - designated|68,862|65,234| |Restricted funds|23,214|64,703| ||291,552|311,592| - 12 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **7 Support costs** |**2023**
**Support costs**
**Governance**
**costs**
**£**
**£**
Depreciation
68,862
-
Printing, postage and
stationery
5,031
-
Subscriptions and journals
938
-
Legal and professional fees
2,025
-
Sundry expenses
2,119
-
Insurance
4,321
-
Computer expenses
3,728
-
Communication with members
1,644
-
Advertising and publicity
5,309
-
Repairs and maintenance
22,876
-
Bank charges
4,092
-
Accountancy fees
-
2,536
120,945
2,536
Analysed between
Charitable activities
120,945
2,536|2022
**2023**
Support costs
Governance
costs
**£**
£
£
68,862
65,234
-
5,031
2,395
-
938
467
-
2,025
7,146
-
2,119
3,681
-
4,321
4,234
-
3,728
13,086
-
1,644
1,437
-
5,309
2,599
-
22,876
73,519
-
4,092
2,945
-
2,536
-
2,582
123,481
176,743
2,582
123,481
176,743
2,582|2022
£
65,234
2,395
467
7,146
3,681
4,234
13,086
1,437
2,599
73,519
2,945
2,582| |---|---|---| |||179,325| |||179,325| Governance costs accountancy fees includes independent examination fees of £2,040 (2022: £1,980). ## **8 Trustees** During the year, 3 trustees were reimbursed a total of £120 (2022: £38) for travel expenses ## **9 Employees** The average monthly number of employees during the year was: |Total
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
8
104,945
266
743
105,954|**2022**
**Number**
6| |---|---|---| |||75,693
-
379| |||76,342| ## **10 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. - 13 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **11 Tangible fixed assets** |**Leasehold**
**property**
**Leasehold**
**improvements**
**£**
**£**
**Cost**
At 1 October 2022
1,162,278
8,586
Additions
-
21,867
At 30 September 2023
1,162,278
30,453
**Depreciation**
At 1 October 2022
883,332
239
Depreciation charged in the year
46,491
841
At 30 September 2023
929,823
1,080
**Carrying amount**
At 30 September 2023
232,455
29,373
At 30 September 2022
278,946
8,347|**Fixtures Furniture and**
**equipment**
**Computer**
**equipment**
**£**
**£**
**£**
164,870
80,575
27,828
37,886
9,668
5,820
202,756
90,243
33,648
69,266
36,458
18,172
9,506
8,655
3,369
78,772
45,113
21,541
123,984
45,130
12,107
95,604
44,116
9,656|**Total**
**£**
1,444,137
75,241| |---|---|---| |||1,519,378| |||1,007,467
68,862| |||1,076,329| |||443,049| |||436,669| - 14 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **12 Fixed asset investments** ||**Listed investments**| |---|---| ||**£**| |**Valuation**|| |At 1 October 2022|336,056| |Additions|167,798| |Disposal proceeds|(102,609)| |Net gains (losses) on disposals|5,696| |Unrealised gains (losses)|1,584| |Movement in income account|1,017| |Movement in capital account|(11,444)| |At 30 September 2023|398,098| |**Carrying amount**|| |At 30 September 2023|398,098| |At 30 September 2022|336,056| The historic cost of the above investments at 30 September 2023 is £374,307 (2022: £321,876). Included in the above is £18,677 of cash held in the portfolio's income and capital accounts (2022: £29,106) leaving £355,629 (2022: £306,950) of listed investments. ## **13 Debtors** |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
2,274
23,329
5,086
30,689
**2023**
**£**
15,566
25,349
40,915|**2022**
**£**
1,433
3,531
5,305| |---|---|---| |||10,269| |||**2022**
**£**
952
12,122| |||13,074| ## **14 Creditors: amounts falling due within one year** Included in the above is £159 (2022: £nil) of deferred income. This relates to school trips in the future. - 15 - **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **15 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |**Balance at**
**1 October 2022**
**£**
Development fund
124,600
Normanby Trust
10,000
Alan Appleton fund
2,741
NLHF Archives for All
-
Curry Fund re Fossil Festival
-
Special Receipt Science fund
-
137,341
**Balance at**
**1 October 2021**
**£**
Development fund
124,181
WYCA EDRF
2,750
Normanby Trust
-
Alan Appleton fund
-
126,931|**Movement in funds**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**30 September**
**2023**
**£**
**£**
**£**
**£**
38,717
(8,564)
(69,421)
85,332
-
(7,950)
-
2,050
-
(2,741)
-
-
15,532
(9,712)
(5,820)
-
1,000
(1,000)
-
-
420
-
-
420
55,669
(29,967)
(75,241)
87,802
**Movement in funds**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**30 September**
**2022**
**£**
**£**
**£**
**£**
125,052
(64,703)
(59,930)
124,600
-
-
(2,750)
-
10,000
-
-
10,000
500
(2,409)
4,650
2,741
135,552
(67,112)
(58,030)
137,341|**Movement in funds**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**30 September**
**2023**
**£**
**£**
**£**
**£**
38,717
(8,564)
(69,421)
85,332
-
(7,950)
-
2,050
-
(2,741)
-
-
15,532
(9,712)
(5,820)
-
1,000
(1,000)
-
-
420
-
-
420
55,669
(29,967)
(75,241)
87,802
**Movement in funds**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**30 September**
**2022**
**£**
**£**
**£**
**£**
125,052
(64,703)
(59,930)
124,600
-
-
(2,750)
-
10,000
-
-
10,000
500
(2,409)
4,650
2,741
135,552
(67,112)
(58,030)
137,341| |---|---|---| |||137,341| **Development fund:** This fund represents restricted monies donated for specific development projects at the museum approved by the donor. The transfer out to the designated fixed asset fund represents monies spent on tangible fixed assets not included in the expenditure on the statement of financial activities. **Normanby Trust:** This fund represents a restricted grant from the Normanby Trust for the charity's bi-centenary celebrations in 2023. **Alan Appleton fund:** This fund represents restricted donations for the purchase of Whitby Timeline books to be resold in the museum shop. **NLHF Archives for All:** This fund represents a restricted grant from the National Lottery Heritage Fund for improvements to the longevity of, and access to, the archive. £210,205 has been awarded over 3 years, along with £12,000 from the society towards the project. Funds can only be claimed once expenditure exceeds £10,000. The income represents a claim made for expenditure during the year. The transfer out of the fund represents monies spent on tangible fixed assets not included in the expenditure on the statement of financial activities. **Curry Fund re Fossil Festival:** This fund represents a restricted grant from the Curry Fund for hosting the Yorkshire Fossil Festival during the year. **WYCA ERDF (2022 only):** This fund represents a restricted grant by West Yorkshire Combined Authority working in partnership with the European Regional Development Fund for specific capital expenditure incurred. The transfer out to the designated fixed asset fund represents monies spent in previous years on tangible fixed assets not included in the expenditure on the statement of financial activities. **Special Receipt Science Fund:** This fund represents a donation restricted for use on a science trail. - 16 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **16 Unrestricted funds - designated** These are unrestricted funds which are material to the charity's activities made up as follows: |**Balance at**
**1 October 2021**
**Expenditure**
**£**
**£**
Fixed asset fund
429,022
(57,587)
Archives For All
-
-
429,022
(57,587)|**Transfers**
**Balance at**
**1 October 2022**
**Expenditure**
**£**
**£**
**£**
65,234
436,669
(68,862)
-
-
-
65,234
436,669
(68,862)|**Transfers**
**Balance at**
**30 September**
**2023**
**£**
**£**
75,242
443,049
12,000
12,000
87,242
455,049|**Transfers**
**Balance at**
**30 September**
**2023**
**£**
**£**
75,242
443,049
12,000
12,000
87,242
455,049| |---|---|---|---| ||||455,049| **Fixed Asset Fund:** This fund represents the tangible fixed assets owned by the charity. Depreciation is charged as expenditure to the fund. The transfer into the fund represents fixed asset additions. **Archives For All society contribution:** This fund represents monies designated as the society's contribution to the Archives For All project. The transfer into the fund represents the £12,000 being set aside for the project. ## **17 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Fund balances at 30 September 2023 are represented by:
Tangible assets
-
443,049
-
Investments
398,097
-
-
Current assets/(liabilities)
214,192
12,000
87,802
612,289
455,049
87,802|**Total**
**2023**
**£**
443,049
398,097
313,994| |---|---| ||1,155,140| |**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Fund balances at 30 September 2022 are represented by:
Tangible assets
-
436,669
-
Investments
336,056
-
-
Current assets/(liabilities)
187,439
-
137,341
523,495
436,669
137,341|**Total**
**2022**
**£**
436,669
336,056
324,780| |---|---| ||1,097,505| - 17 - ## **WHITBY LITERARY AND PHILOSOPHICAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2023**_ ## **18 Operating lease commitments** At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases which fall due as follows: |Within one year
Between two and five years
In over five years|**2023**
**£**
510
1,658
918
3,086|**2022**
**£**
246
4
919| |---|---|---| |||1,169| Included in the above is £923 remaining of a 999 year peppercorn lease for the building. The lease is with Whitby Town Council and is in the process of being transferred from the unincorporated charity. ## **19 Related party transactions** There were no disclosable related party transactions during the year (2022: none). - 18 -