**Registered Charity No. 1174110**
**Athelstan Museum Malmesbury CIO Annual Report and Financial Statements For the Year Ended 31 March 2022**
Page 1
## **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**|
Page 2
**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
Page 3
## **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
Page 4
## **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**|
Page 6
## **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.**
Page 7
## **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.**
Page 8
## **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.
Page 9
## _**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.
Page 10
## _**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.
Page 11
## **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.
Page 12
## **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.
Page 13
## **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**
Page 14
## **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.
Page 15
## **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.
Page 16