**Registered Charity No. 1174110**
**Athelstan Museum Malmesbury CIO Annual Report and Financial Statements For the Year Ended 31 March 2023**
Page 1
## **Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 Contents for the Year Ended 31 March 2023**
||**Page**|
|---|---|
|Reference and Administrative Details|**3**|
|Trustees' Annual Report|**4 - 6**|
|Independent examiner's report to the trustees|**7**|
|Statement of Financial Activities|**8**|
|Balance Sheet|**9**|
|Notes to the financial statements|**10 - 17**|
Page 2
**Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2023**
## **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||
|Jonathan Tucker||
|**Museum Council**||
|VACANT|Chair|
|Susan Mockler|Vice Chair|
|Ken Binstead|Treasurer|
|Angela Sykes||
|Deborah Clogg|Collections|
|Bridget Robinson|Volunteers|
|Janet Casselden|Education and Outreach|
|Catherine Doody||
|Maria Marsh|Coin Hoard Project|
|Carolyn Brothwood|Events and Rausing Bookings|
|Graham McDougal|Events and Website Updates|
|Sharon Nolan|Shop|
## **Independent Examiner**
BW Business Accountants & Advisers Limited Henleaze Business Centre Harbury Road Bristol BS9 4PN
Page 3
## **Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2023**
## **TRUSTEES' ANNUAL REPORT**
## **Athelstan Museum Malmesbury Trustee Report 2022-23**
The Museum continued to thrive and remained sustainable during the period.
## **Visitors**
Visitor numbers increased steadily post COVID. We had 14,649 visitors of which 2,040 were under 18s. We are gradually returning to pre COVID figures. International visitors returned and with our increased social media presence, the newly displayed Roman Coin Hoard and temporary exhibitions saw residents and visitors from local towns.
## **Income**
Grants, the cashless donation box, together with a Coin (waterfall) box which was refreshed with new illustrations, and our Tiger box brought in £10,225.19. Gift aid was recovered where appropriate. We had a donation of £4,000 from a local family, a biography donation of £2,000 and a donation of £1,000 from the estate of a member’s wife.
The Rausing building income from lettings increased. We now have regular bookings from yoga teachers and there is an occasional rental income from family parties.
## **Collection**
Over the last year there was a steady series of offers for the Museum collection which were reviewed by the team against our Collections Policy. Those selected as appropriate to take in were then formally recorded and entered onto the online catalogue, Modes.
We acquired new items for the Collection including a silver Athelstan penny, an original Charles 1st letter mentioning Malmesbury, some cards related to Cowbridge House and a Hobbes manuscript which were purchased from Museum funds.
A replica Anglo Saxon sword, such as King Athelstan might have used, commissioned by the Masonic Order of Athelstan and made by Hector Cole and Tim Blades, was loaned to the Museum and is on display.
Work also progressed, following Accredited Museum processes, to move out of the collection objects taken in in past years that have no relevance, and hence release space for more relevant items.
Regular checks were undertaken to ensure the health of the collection in terms of potential pests and other condition issues and professional advice taken where needed.
A project to address the backlog of collection objects on Modes with no image progressed well and is now well on the way to completion.
The Museum participated in a cross-county ‘proof of concept’ project, funded by the Arts Council, on achieving online exhibitions.
Work was undertaken to update the Museum website and make it more useful to viewers.
Items from the Collection not on display were made accessible where requested to researchers and other interested parties.
## **Exhibitions**
After years of conservation and recording work, delayed by Covid, the Malmesbury Roman Coin Hoard was launched in its specialist display case at the beginning of this year. A replica Anglo Saxon sword, such as King Athelstan might have used, commissioned by the Masonic Order of Athelstan and made by Hector Cole and Tim Blades, was loaned to the Museum and is on display. In addition, other new items to the collection have gone on display, such as the original silver penny.
The Exhibitions team have mounted temporary exhibitions on the mezzanine every three months. We had the 17th century Malmesbury Witch Trials, Romans, the Malmesbury Twinning Association and The Malmesbury Branch Railway during this period. These are advertised on the website. The information is collated and printed onto boards which fit our rotating display stands, at Museum cost.
There was also a display of an Indian coat reputed to have belonged to Warren Hastings, with information about other Malmesbury links to the East India Company.
The Museum has partnered with a local art gallery in a display of work by Malmesbury artists since World War II. The lighting downstairs in the museum has been improved.
Page 4
## **Athelstan Museum Malmesbury CIO**
## **Registered Charity No. 1174110**
## **For the Year Ended 31 March 2023**
## **Events**
Our tea time talks proved a new and successful idea. There was a series of six, from February to July, charged at £5.00 per ticket. This included tea and cake and a talk by a local speaker. They attracted a different demographic, often older people who no longer want to go out at night. They were able to talk to others so it also created a social event.
Evening events were charged at a higher price and again attracted a different demographic eg for Mike Fenton’s book launch we had railway enthusiasts. Our new Events co-ordinator worked hard to learn the role and has been supported by a newly formed events team. Event volunteers are different people from Museum volunteers and co-ordinated by an event volunteer co-ordinator, there is some crossover.
## **Museum Shop**
Turnover increased from £10,798 to £16,304, and it went from an overall loss of (£1,418) to a profit of £8,453. All profits go to supporting the Museum. The shop team recruited two new volunteers to help. Local cards and books sell well, as do gifts for both adults and children. We participated in Museum Shop Sunday before Christmas.
## **Volunteers**
Our volunteer base is strong. Most help out on the desk, answering questions and showing visitors around or serving in the shop during a two-hour shift. Our key volunteers on the Museum Management Team lead other teams, eg Collections, Education, Exhibitions. We still have not filled the post of Chair or leader for this group since our Chairman stepped down after seven years in the job. Our Vice Chair manages the monthly meetings.
## **Education and Outreach 2022-2023**
The first full year without Covid restrictions has proved that maintaining relationships is extremely important if we are to continue developing our Education and Outreach offer to the local community. The drop in volunteer numbers has also had an impact on maintaining pre Covid activity.
Loss of contact with individuals in local schools, due to staff movement and school closure during the pandemic, has meant fewer activities have occurred. However, staff who moved to other schools have contacted us and requested either loan boxes or activity days, and these schools have tended to be further away.
We still offer the activities and loan boxes (including a growing selection of dressing up costumes) covering Anglo Saxons and Vikings, WW2, Toys through the ages, 17th century. We are able to adapt sessions to the specific requests of teachers.
Activity days for children and families during school holidays have also reduced / or been cancelled due to poor response.
The development of Adult study days has also not progressed as far as we would have liked, although lectures and talks have been maintained by the Events team.
In conclusion it would seem that the effect the pandemic had a was detrimental to this section of the Museum, and this past year has been a difficult one.
## **Malmesbury Town and the Environment**
Malmesbury High Street is busy. Although we no longer have any banks the shops are occupied and appear to be surviving. Cafes, restaurants and hotels seem to do good business but some pubs struggle. Our Town Council works hard to promote tourism and the Museum benefits from this. There is a project to enhance The Birdcage, a part of the Historic centre, with a Statue of King Athelstan and seating / planting which would be attractive to visitors. The Museum is benefitting from this environment.
Page 5
## **Athelstan Museum Malmesbury CIO Registered Charity No. 1174110**
## **For the Year Ended 31 March 2023**
## **Trustees' responsibilities statement**
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 charity trustees to prepare financial statements for each 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 period.
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 applicable Charities SORP;
* make judgments and accounting estimates that are reasonable and prudent;
* state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
* prepare the financial statements on the going convern basis unless it is inappropriate to presume the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 applicable Charities (Accounts and Reports) Regulations 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.
The trustees' annual report was approved on ___________________ and signed on behalf of the trustees by:
## **Sharon Nolan – Chair**
Page 6
## **Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2023**
## **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 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 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|
|Henleaze Business Centre|
|Harbury Road|
|Bristol|
|BS9 4PN|
|Date:
**13 September 2023**|
Page 7
## **Athelstan Museum Malmesbury CIO Registered Charity No. 1174110 For the Year Ended 31 March 2023**
|**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**
**16**
**Net movement in funds**
**16**
**Total funds at 1 April 2022**
**16**
**(as previously stated)**
**Prior year adjustment**
**15**
**Total funds at 1 April 2022**
**15**
**(as restated)**
**Total funds at 31 March 2023**
**16**|**Unrestricted**
**Restricted**
**Total funds**
Total funds
**funds**
**funds**
**2023**
2022
**£**
**£**
**£**
£
12,099
-
12,099
51,212
24,831
-
24,831
16,160
1,038
4,710
5,748
12,941
-
-
-
1
**37,968**
**4,710**
**42,678**
**80,315**
7,851
-
7,851
12,216
17,383
13,744
31,127
39,371
**25,234**
**13,744**
**38,978**
**51,587**
12,734
(9,034)
3,700
28,728
123
(123)
-
-
12,857
(9,157)
3,700
28,728
1,410,314
22,166
1,432,480
1,403,752
(2,844)
2,844
-
-
1,407,470
25,010
1,432,480
-
**1,420,327**
**15,853**
**1,436,180**
**1,432,480**|
|---|---|
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 10 onwards form part of these financial statements.**
Page 8
|**Note**
**£**
**£**
**Fixed assets**
Tangible assets
**11**
1,283,089
**Current assets**
Stock
**12**
7,166
Debtors
**13**
2,278
Cash at the bank and in hand
144,522
153,966
**Liabilities**
Creditors: amounts falling due within
**14**
(876)
one year
**Net current assets**
153,090
**Total assets less current liabilities**
**1,436,180**
**Funds**
Unrestricted funds
**16**
1,420,327
Restricted funds
**16**
15,853
**Total funds**
**1,436,180**
**Athelstan Museum Malmesbury CIO**
**Company number: CE010686**
**For the Year Ended 31 March 2023**
**2023**|**£**
7,235
4,759
150,584
**2**|**£**
1,270,752
162,578
(850)
161,728
**1,432,480**
1,410,314
22,166
**1,432,480**
**022**|
|---|---|---|
The accounts were approved by the Trustees on _____________________________ and were signed on its behalf by:
Sharon Nolan – Chair
**The notes on page 10 onwards form part of these financial statements.**
Page 9
## **Athelstan Museum Malmesbury CIO Company number: CE010686**
## **For the Year Ended 31 March 2023**
## **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 10
## _**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 11
## _**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 12
## **Athelstan Museum Malmesbury CIO Company number: CE010686 For the Year Ended 31 March 2023**
## **4 Income from: Donations and legacies**
## **Current year**
|Donations - general
Legacies
Memberships
**Grants**
Grants receivable
**Prior year**
Donations - general
Legacies
Memberships
**Grants**
Grants receivable
**Income from: Other trading activities**
Fundraising events & bar income
Room hire
Shop income|**Unrestricted**
**Restricted**
**Total Funds**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
9,279
-
**9,279**
-
-
**-**
-
-
**-**
2,820
-
**2,820**
**12,099**
**-**
**12,099**
**Unrestricted**
**Restricted**
**Total Funds**
**Funds**
**Funds**
**2022**
**£**
**£**
**£**
23,397
-
23,397
-
-
-
-
-
-
27,065
-
27,065
**50,462**
**-**
**50,462**
**Unrestricted**
**Restricted**
**Total Funds**
Total Funds
**Funds**
**Funds**
**2023**
2022
**£**
**£**
**£**
£
8,527
-
8,527
5,302
-
-
-
60
16,304
-
16,304
10,798
**24,831**
**-**
**24,831**
16,160|
|---|---|
## **5 Income from: Other trading activities**
All income from other trading activities received in to the prior year was for unrestricted purposes.
Page 13
## **6 Costs of other trading activities**
|Shop costs - purchases
Shop expenses
Fundraising costs|**Unrestricted**
**Restricted**
**Total Funds**
Total Funds
**Funds**
**Funds**
**2023**
2022
**£**
**£**
**£**
£
7,239
-
7,239
11,516
612
-
612
700
-
-
-
-
**7,851**
**-**
**7,851**
12,216|
|---|---|
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**
**2023**
2022
**£**
**£**
**£**
£
-
-
-
34
-
34
-
576
-
576
294
4,123
-
4,123
2,785
-
-
-
-
-
-
-
-
-
7,826
7,826
15,307
-
5,918
5,918
6,337
-
-
-
250
**4,733**
**13,744**
**18,477**
**24,973**|
|---|---|
During the prior year, expenditure of £15,307 on the Coin Hoard exhibit and £6,337 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**
**2023**
2022
**£**
**£**
**£**
£
2,641
-
2,641
4,062
1,022
-
1,022
4,753
4,569
-
4,569
1,580
78
-
78
107
-
-
-
572
-
-
-
-
850
-
850
800
1,622
1,622
944
739
-
739
635
479
-
479
566
651
-
651
545
**12,650**
**-**
**12,650**
14,564
**17,383**
**13,744**
**31,126**
**39,537**|
|---|---|
During the prior year, all support costs were from unrestricted funds.
Page 14
## **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 2022**_
|Income from:
Donations and legacies
Other trading activities
Other non-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 the start of year**
**Total funds at end of year (as restated)**
**Tangible fixed assets**
**Cost or valuation**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022 and 2023
**Net Book Value**
At 31 March 2022
At 31 March 2023|**Unrestricted**
**Restricted**
**Total Funds**
**Funds**
**Funds**
**2022**
**£**
**£**
**£**
50,462 750 51,212
16,160 - 16,160
12,941
12,941
1 - 1
**79,565 750 80,315**
12,216 - 12,216
17,893 21,478 39,371
**30,109 21,478 51,587**
49,456
(20,728) 28,728
-
- -
46,612
(17,884) 28,728
1,360,858 42,894 1,403,752
**1,407,470 25,010 1,432,480**
**Museum**
**Collection**
**Freehold**
**Property**
**Total**
**£**
**£**
**£**
614,894
655,858
1,270,752
12,337
-
12,337
627,231
655,858
**1,283,089**
-
-
-
**614,894**
**655,858**
**1,270,752**
**627,231**
**655,858**
**1,283,089**|
|---|---|
- **11 Tangible fixed assets**
Page 15
## **12 Stock**
**----- Start of picture text -----**
2023 2022
£ £
Museum shop stock 7,166 7,235
13 Debtors 2023 2022
£ £
Due in less than one year:
Trade debtors (414) 53
Other debtors 2,692 4,705
2,278 4,758
14 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - -
Accruals and deferred income 850 850
Other creditors 26 -
876 850
**----- End of picture text -----**
## **15 Prior year adjustment**
An adjustment has been made to prior year figures in relation to the brought forward value of the Coin Hoard reserve:
|Opening balance at 1 April 2022 (as previously stated)
Prior year adjustment
Opening balance at 1 April 2022 (as restated)
**16**
**Movement in funds**
**_For the year ended 31 March 2023_**
**1 April 2022 (as**
**previously**
**stated)**
**Prior year**
**adjustment**
**1 April 2022 (as**
**restated)**
**Income**
**£**
**£**
Restricted funds
Coin Hoard
1,365
2,844
4,209
4,710
Turner Project
20,801
-
20,801
-
**22,166**
**2,844**
**25,010**
**4,710**
Unrestricted funds
General funds
1,410,314
(2,844)
1,407,470
37,968
**1,410,314**
**(2,844)**
**1,407,470**
**37,968**
**Total funds**
**1,432,480**
**-**
**1,432,480**
**42,678**|**General Funds**
**Coin Hoard**
1,410,314
1,365
(2,844)
2,844
**1,407,470**
**4,209**
**Expenditure**
**Transfers**
**31 March 2023**
**£**
**£**
**£**
(7,824)
-
1,095
(5,920)
(123)
14,758
**(13,744)**
**(123)**
**15,853**
(25,234)
123
1,420,327
**(25,234)**
**123**
**1,420,327**
**(38,978)**
**-**
**1,436,180**|
|---|---|
## **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 16
## **16 Movement in funds (continued)**
_**For the year ended 31 March 2022 (as previously stated)**_
|Restricted funds
Coin Hoard
Turner Project
Unrestricted funds
General funds
**Total funds**
**17**
**Analysis of net assets**
**_As at 31 March 2023_**
Tangible fixed assets
Other net assets
**_As at 31 March 2022 (as restated)_**
Tangible fixed assets
Other net assets|**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
79565
(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**
**Unrestricted**
**Restricted**
**Total Funds**
**Funds**
**Funds**
**2022**
**£**
**£**
**£**
1,283,089 - 1,283,089
137,238
15,853 153,091
**1,420,328 15,853 1,436,180**
**Unrestricted**
**Restricted**
**Total Funds**
**Funds**
**Funds**
**2022**
**£**
**£**
**£**
1,270,752 - 1,270,752
136,718
25,010 161,728
**1,407,470 25,010 1,432,480**|
|---|---|
## **18 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 17