Registered Charity No. 1174110
Athelstan Museum Malmesbury CIO Annual Report and Financial Statements For the Year Ended 31 March 2022
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Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 Contents for the Year Ended 31 March 2022
| Page | |
|---|---|
| Reference and Administrative Details | 3 |
| Trustees' Annual Report | 4 - 5 |
| Independent examiner's report to the trustees | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9 - 16 |
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Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2022
REFERENCE AND ADMINISTRATIVE DETAILS
| Registered charity name | |
|---|---|
| Athelstan Museum Malmesbury CIO | |
| Registered Charity number | |
| 1174110 Registered office The Town Hall Cross Hayes Malmesbury Wiltshire SN16 9BZ |
|
| Trustees | |
| Sharon Nolan | Chair |
| Angela Sykes | |
| Roger Griffin | |
| Janet Casselden | |
| Tony McAleavy | |
| Mark Odlum | |
| Maria Marsh | |
| David Heiland | |
| Museum Council | |
| Sharon Nolan | Chair |
| Susan Mockler | Vice Chair |
| Ken Binstead | Treasurer |
| Anne Cox | Secretary |
| Angela Sykes | Special Projects |
| Deborah Clogg | Acting Head of Collections |
| Bridget Robison | Volunteers |
| Janet Casselden | Education, Learning and Outreach Co-Ordinator |
| Marie-Claire Brind | Membership |
| Catherine Doody | Hospitality |
| Maria Marsh | Coin Hoard Project |
| Carolyn Brothwood | Education and Learning |
| Tim Burge | Ex Officio (Museum Mentor) |
Independent Examiner
BW Business Accountants & Advisers Limited 18 Humphrys Barton St Anne's Park Bristol BS4 4NS
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Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2022
TRUSTEES' ANNUAL REPORT
Athelstan Museum Trustee Report 2021-2022
The Museum reopened after Covid on 17 May 2021. Prior to that all events and meetings were on Zoom. Deborah Clogg, Collections lead, worked in The Rausing Building alone, ensuring the maintenance and safety of the Collection.
For the re-opening we launched the Turner Watercolour of Malmesbury Abbey, acquired prior to the pandemic, on Zoom which guaranteed a bigger audience than if we had done it in the Museum. Renovation of the Museum mezzanine was completed in time for the Turner to be displayed.
Income
Income during Covid
There had been online donations for talks on Zoom and we had two COVID grants which meant that we started 2021-2022 with enough to operate and maintain the Museum and The Rausing Building. Our main income streams started up again, income from the Museum shop and donations in the Museum. We installed a cashless donation box because many visitors no longer carried cash, this has changed again in 2022 and the cash donations have increased.
Income from events and hiring
People were reluctant to go to events. We did not resume events again until December 2021. There is now a steady monthly income from talks. The Rausing Building as of July 2022 is bringing in roughly £500 per month in rent from yoga groups and individuals.
Governance
The Museum Council met every month on Zoom until we could meet again in person. This meant that we were ready to open in May 2021. The Trustees met quarterly, also on Zoom until it was safe to meet.
Volunteers
We rely entirely on volunteers to run the Museum. Our Museum Council members remained faithful, as did our Trustees. However, some of our more elderly desk volunteers did not return after the pandemic. Some may have been ready to retire but others were wary of being in public. We printed a new Museum leaflet in January 2022 and put volunteer leaflets inside them. These were delivered all around the town and to some of the outlying villages resulting in new volunteers. We had been worried about diversity in the volunteer team and are pleased to have some younger volunteers and two young women from Korea and the Philippines, new to Malmesbury, whose husbands work for Dyson. Our Volunteer Co-ordinator manages the rota and inducts new volunteers one to one.
Education and learning outreach
We have maintained minimal contact and working relationships with local schools and groups until they have been ready to start up school and group visits.
Displays and Exhibitions
There is a new team managing exhibitions so we have a better forward plan for exhibitions. Local residents enjoy coming to see new things in the Museum, returning visitors also.
Visitors
In May 2021 we put Covid measures in place, hand sanitisers, a shop screen, and required everyone to wear masks. The Turner painting enticed locals and very soon UK visitors appeared. In May we had 288 visitors, then gradually it increased each month to 348, 489, 833 and in February 2022 was at 1006. We now have a visitor book again so can garner useful feedback.
Museum Shop
The shop team also met on Zoom or in each other’s gardens, planning for the reopening and putting out the display again. They had been to London before the pandemic to source Turner merchandise and had this ready to put out. Shop turnover was between £300 to £400 during May, June and July, in August sales began to increase steadily and by March 2022 had reached £1,273 for the month.
Social Media
We now have a volunteer managing out Twitter account and our profile and followers are growing. Facebook was managed by a Media company employed to publicise the Turner.
The town and environment
Malmesbury appears to be thriving. The High Street has some empty shops but new start-ups seem to be surviving. The Old Bell Hotel was
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Athelstan Museum Malmesbury CIO Registered Charity No. 1174110
For the Year Ended 31 March 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ATHELSTAN MUSEUM MALMESBURY CIO
I report to the trustees on my examination of the financial statements of Athelstan Museum Malmesbury CIO ("the charity") for the year ended 31 March 2022.
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 Act"). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and, in carrying out my examination, I have followed all 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 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 charity as required by section 130 of the 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 shuld be drawn in this report |
| in order to enable a proper understanding of the accounts to be reached. |
| Natalie Binstead-Wey ACA CTA |
| BW Business Accountants & Advisers Limited |
| 18 Humphrys Barton |
| St Anne's Park |
| Bristol |
| BS4 4NS |
| Date: 16 September 2022 |
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Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2022
| Note Income from: Donations and legacies 4 Other trading activities 5 Other non-trading activities Investments Total income Expenditure on: Costs of other trading activities 6 Charitable activities 7 Total expenditure Net income for the year Transfer between funds 15 Net movement in funds 15 Total funds at start of year 15 Total funds at end of year 15 |
Unrestricted Restricted Total funds Total funds funds funds 2022 2021 £ £ £ £ 50,462 750 51,212 91,805 16,160 - 16,160 3,477 12,941 - 12,941 - 1 - 1 - 79,565 750 80,315 95,282 12,216 - 12,216 3,147 17,893 21,478 39,371 67,045 30,109 21,478 51,587 70,192 49,456 (20,728) 28,728 25,090 - - - - 49,456 (20,728) 28,728 25,090 1,360,858 42,894 1,403,752 1,378,662 1,410,314 22,166 1,432,480 1,403,752 |
|---|---|
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on page 9 onwards form part of these financial statements.
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Athelstan Museum Malmesbury CIO Company number: CE010686 For the Year Ended 31 March 2022
| Note Fixed assets Tangible assets 11 Current assets Stock 12 Debtors 13 Cash at the bank and in hand Liabilities Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Funds Unrestricted funds 15 Restricted funds 15 Total funds |
£ £ 1,270,752 7,235 4,759 150,584 162,578 (850) 161,728 1,432,480 1,410,314 22,166 1,432,480 2022 |
£ 6,571 2,531 126,848 2 |
£ 1,269,646 135,950 (1,844) 134,106 1,403,752 1,360,858 42,894 1,403,752 021 |
|---|---|---|---|
The accounts were approved by the Trustees on _____ and were signed on its behalf by:
Sharon Nolan – Chair
The notes on page 9 onwards form part of these financial statements.
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Athelstan Museum Malmesbury CIO Company number: CE010686 For the Year Ended 31 March 2022
1 General information
Athelstan Museum Malmesbury is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales. The address of the principal office is Town Hall, Cross Hayes, Malmesbury, Wiltshire SN16 9BZ.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the 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 (Charities SORP (FRS 102)) and the Charities Act 2011.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on a historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in Sterling, which is the functional currency of the charity.
Cash Flow statement
The charity has taken the exemption available in FRS102 not to prepare a cash flow statement.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The charity continued to face the emergeny created by the global Coronavirus pandemic but the trustees have taken all reasonable steps to limit expenditure and adjust working practices and are satisified about the charity's ability to continue as a Going Concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amount reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations on future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subject to restrictions on their expenditure declared by the donor, or through the terms of an appeal, and fall in to one of two sub-classes: restricted income or endowment funds.
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Income
All income is included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipts is probable and its amount can be measured reliably.
-
Legacy income is recognised when the receipt is probable and entitlement is established.
-
Income from donated goods is measured at the fair value of the goods, unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates:
-
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities and the sale of donated goods.
-
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are intially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses except to which it offsets any previous revaluation gain. In which case, the loss is shown within other recognised gains and losses on the statement of financial activities.
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Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Athelstan Museum Malmesbury CIO Company number: CE010686 For the Year Ended 31 March 2022
4 Income from: Donations and legacies
Current year
| Donations - general Legacies Memberships Grants Grants receivable Prior year Donations - general Legacies Memberships Grants Grants receivable VALE Grant: Mezzanine Floor Project Turner Project Heritage Lottery funding for Coin Hoard |
Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ 23,397 - 23,397 - - - - - - 27,065 - 27,065 50,462 - 50,462 Unrestricted Restricted Total Funds Funds Funds 2021 £ £ £ 14,238 - 14,238 5,000 - 5,000 500 - 500 19,431 - 19,431 - 17,840 17,840 - 15,956 15,956 - 18,840 18,840 39,169 52,636 91,805 |
|---|---|
5 Income from: Other trading activities
| Fundraising events & bar income Room hire Shop income |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 5,302 - 5,302 1,138 60 - 60 145 10,798 - 10,798 2,194 16,160 - 16,160 3,477 |
|---|---|
All income from other trading activities received in to the prior year was for unrestricted purposes.
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6 Costs of other trading activities
| Shop costs - purchases Shop expenses Fundraising costs |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 11,516 - 11,516 1,229 700 - 700 933 - - - 985 12,216 - 12,216 3,147 |
|---|---|
All costs of other trading activities incurred in the prior year were from unrestricted funds.
7 Expenditure on charitable activities
| Direct costs: Events Volunteers' expenses Rates & water Light & heat Mezzanine improvements Event refunds Coin Hoard exhibit Turner exhibition set up costs Training costs |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ - - 405 - - - 71 294 - 294 - 2,785 - 2,785 5,640 - - - 27,647 - - - 561 - 15,307 15,307 6,671 - 6,337 6,337 14,623 250 - 250 - 3,329 21,644 24,973 55,618 |
|---|---|
During the prior year, expenditure of £27,088 on mezzanine improvements, £6,671 on the Coin Hoard exhibit and £14,623 on Turner exhibition setup costs were from restricted funds.
All other expenditure was from unrestricted funds.
| Support costs: Repairs & maintenance Insurance Other office costs Bank charges and interest Legal & professional Advertising Governance costs Cleaning IT costs Subscriptions Telephone/internet Total costs |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ 4,062 - 4,062 1,788 4,753 - 4,753 3,664 1,580 - 1,580 1,287 107 - 107 136 572 - 572 592 - - - 278 800 - 800 850 944 - 944 781 635 - 635 837 566 - 566 643 545 - 545 571 14,564 - 24,723 11,427 17,893 21,644 49,697 67,045 |
|---|---|
During the prior year, all support costs were from unrestricted funds.
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8 Taxation
The CIO is exempt from corporation tax on its charitable activities.
9 Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or related entity were received by the trustees in either the current or preceding year.
10 Statement of Financial Activities comparative figures
For the year ended 31 March 2021
| Income from: Donations and legacies Other trading activities Investments Total income Expenditure on: Costs of other trading activities Charitable activities Total expenditure Net income for the year Transfers between funds Net movement in funds for the year Total funds at start of year Total funds at end of year Tangible fixed assets Cost or valuation At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 and 2022 Net Book Value At 31 March 2021 At 31 March 2022 |
Unrestricted Restricted Total Funds Funds Funds 2021 £ £ £ 39,169 52,636 91,805 3,477 - 3,477 - - - 42,646 52,636 95,282 3,147 - 3,147 18,663 48,382 67,045 21,810 48,382 70,192 20,836 4,254 25,090 (12,674) 12,674 - 8,162 16,928 25,090 1,352,696 25,966 1,378,662 1,360,858 42,894 1,403,752 Museum Collection Freehold Property Total £ £ £ 613,788 655,858 1,269,646 1,106 - 1,106 614,894 655,858 1,270,752 - - - 613,788 655,858 1,269,646 614,894 655,858 1,270,752 |
|---|---|
- 11 Tangible fixed assets
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12 Stock
2022 2021 £ £ Museum shop stock 7,235 6,571 Debtors 2022 2021 £ £ Due in less than one year: Trade Debtors 53 - Other debtors 4,705 2,531 4,758 2,531
13 Debtors
14 Creditors: amounts falling due within one year
2022 2021 £ £ Trade creditors - - Accruals and deferred income 850 840 850 840
15 Movement in funds
For the year ended 31 March 2022
| Restricted funds Coin Hoard Turner Project Unrestricted funds General funds Total funds |
01 April 2021 Income Expenditure Transfers 31 March 2022 £ £ £ £ £ 15,923 750 (15,308) - 1,365 26,971 - (6,170) - 20,801 42,894 750 (21,478) - 22,166 1,360,858 79,565 (30,109) - 1,410,314 1,360,858 79,565 (30,109) - 1,410,314 1,403,752 80,315 (51,587) - 1,432,480 |
|---|---|
Restricted funds
The Turner project consists of funds received from the Art Fund and NLHF to acquire a Turner watercolour of Malmesbury Abbey. This work was purchased for £425,000. The remaining expenditure will be spent on a broad and diverse activity programme to enhance the appreciation of the heritage. It will also be used to improve the museum premises to house the painting.
Coin Hoard project - funds were received for the restoration, conservation and display of the Malmesbury Coin Hoard.
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15 Movement in funds (continued)
| For the year ended 31 March 2021 Restricted funds Coin Hoard Turner Project Mezzanine Floor Project Unrestricted funds General funds Total funds 16 Analysis of net assets As at 31 March 2022 Tangible fixed assets Other net assets As at 31 March 2021 Tangible fixed assets Other net assets |
01 April 2020 Income Expenditure Transfers 31 March 2021 £ £ £ £ £ 3,754 18,840 (6,671) - 15,923 22,212 15,956 (14,623) 3,426 26,971 - 17,840 (27,088) 9,248 - 25,966 52,636 (48,382) 12,674 42,894 1,352,696 42646 (21,810) (12,674) 1,360,858 1,352,696 42,646 (21,810) (12,674) 1,360,858 1,378,662 95,282 (70,192) - 1,403,752 Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ 1,270,752 - 1,270,752 139,563 22,166 161,729 1,410,314 22,166 1,432,480 Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ 1,269,646 - 1,269,646 91,212 42,894 134,106 1,360,858 42,894 1,403,752 |
|---|---|
17 Related party transactions
There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.
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