## **Cornwall’s Regimental Museum CIO Charity Number 1174375 Trustees’ Report and Financial Statements for the year ending 31 December 2023** 

The Trustees are pleased to present their annual report, together with the consolidated financial statements of the charity, for the year ending 31 December 2023. 

The financial statements comply with the Charities Act 2011 and the Charities SORP (FRS 102) together with Update Bulletin 2. 

## **Names of the Charity Trustees who manage the charity** 

Col Sir Edward Bolitho (President) Mr Daniel Brinson Mr Peter Champness (Chair) Mr Charles Edward-Collins Mrs Sarah Fitzgerald Mr Andrew Harbert Mrs Harriet Hills Mr Anthony Scott-Hopkins Lt-Col William Sharpe Lt-Col Richard Trant Brig Gage Williams 

## **Structure, Governance and Management** 

The charity was registered in 2017 and began operating in January 2018, taking over from the former unincorporated Charitable Trust of the same name. It is constituted as a Charitable Incorporated Organisation (CIO) and is governed by a deed. New trustees are selected by the current trustees of the charity. The day-to-day management of the charity is undertaken by the Director who is paid from the CIO’s own funds. The Assistant Curator is part-funded by Grant-in-Aid from the Ministry of Defence (MOD) to care for the museum collection. A further three full-time posts are funded through grants and income generated through museum activity. 

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## **Chair’s introduction** 

National Armed Forces Day was a highlight of 2023, culminating in Falmouth on 24 June. The museum participated enthusiastically in a number of events, including hosting the One Hundred Day Flag Tour of Cornwall on 25 April, which attracted extensive coverage in local and regional print, digital media, radio and TV, as well as the British Forces Broadcasting Service. The museum took part in the NAFD schools’ day at the Princess Pavilion, engaging with over 400 school children. We also hosted a navigation challenge specially designed for the event at the museum over the weekend. 

The museum received a grant from Arts Council England’s Unlocking Collections programme to catalogue and document the Light Infantry collection, which was acquired when the Light Infantry Museum closed in 2009. Thank you to Andrew Sims, Archivist, who worked closely with Army Heritage Branch to achieve this. The project has also involved collecting oral histories from former Light Infantrymen who served in Northern Ireland, work done in collaboration with the University of Plymouth History Department and Rockpool CIC, who provided trauma-informed training as preparation for conducting the interviews. In 2024 we begin work to redisplay the Northern Ireland gallery. 

The Unlocking Collections grant also funded a consultancy with Ben Gammon to work on the museum’s future profile. This was focussed by a visitor experience workshop and interpretation strategy workshops through the autumn, which were attended by Trustees and staff, as well as several volunteers; the sessions really concentrated our minds on the challenge and will surely bear fruit as we progress. The grant will also fund an audio guide for the whole museum. 

In October the museum rededicated the memorial plaque to the soldiers of the US 29th Infantry Division stationed at Bodmin Keep from 1943-1944 who lost their lives on Omaha Beach during the Normandy invasion. The 29[th] Division Association funded the re-carving of the plaque, and the ceremony was attended by Susan Kearney, a representative of the Association whose father had served at Bodmin Keep during World War II, as well as the Deputy Mayor and Town Crier representing Bodmin Town Council, and members of the Military Vehicles Trust. Thank you to new trustee Anthony Scott-Hopkins for his considerable support organising this event. 

2023 was a year of continuing challenges in the cultural environment. Visitor numbers remained stable at 6976 in 2023 against 6900 in 2022. This was against a 20% reduction in visitors to the county recorded by Visit Cornwall. Ticket prices were reviewed and increased in January 2023, which meant ticket sales income exceeded that of previous years by £4,000. We can say – with some pride – that having broken even in financial terms over the year, we are in a relatively strong position despite much uncertainty. 

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There were several staff changes over the course of the year. Verity Anthony, formerly Collections & Operations Manager, moved to a new role as Visitor Services Manager at Penlee Art Gallery & Museum in July 2023. We are grateful to Verity for her six years’ service at Bodmin Keep, during which time she documented the permanent collection and helped the museum secure accreditation. Gabrielle O’Connor was recruited as Visitor Services and Operations Manager from National Trust Lanhydrock, and started in post in October. Fran Singleton was offered a full-time post at the museum in January, having completed her traineeship through Cornwall Museums Partnership. By November she had taken up the post of Assistant Curator at the Imperial War Museum! Dr James Inglis was appointed as her successor in November and took up the role of Assistant Curator in January 2024, having held posts at the British Library and National Museums Scotland. Kasha Miller, Interim Marketing Manager completed her Level 3 Marketing Apprenticeship with distinction in July and moved to a new role in Leicester. Rob Phillimore was recruited as Marketing Manager in August 2024 and has worked hard to reinforce our social media presence and instigate a refresh of the museum website. Leah Mason remains our Learning Manager and during the year increased the number of schools visits and family activities provided at the museum. Our sincere thanks go to our staff team past and present. 

Our volunteers continue to provide enthusiastic – and much appreciated – support to the museum’s life, and their contribution to the ongoing work of the staff is invaluable. We are particularly pleased that Thai Neale was offered the post of part-time Duty Manager in January 2023, having previously volunteered at the museum. 

As well as support from Arts Council England, the museum received additional funding from the Imperial War Museum’s Second World War & Holocaust project, enabling Charlotte Marchant to undertake research into black American GIs stationed in Cornwall during World War II. 

The museum received grant funding from the Armed Forces Covenant towards the National Armed Forces Day celebration, the Association of Independent Museums (AIM), Cornwall Council’s Community Chest and Wadebridge Rotary Club.  These grants supported a range of exhibition projects and engagement activities to widen audiences and we are grateful for their support. 

A Trustees Management Committee met every six weeks to review financial and organisational performance and expedite decision-making in support of the Director. (This has now been overtaken by a governance review process begun at the start of 2024, which has sanctioned a new committee structure.) 

Among the board of Trustees, at the AGM in May Charles Edward-Collins stepped down after eight years as Chair of the CIO, having been a trustee since 2008. Our sincere thanks to Charles for his work to develop the museum as an independent trust. Charles was succeeded by Peter Champness. 

Robert Jobson resigned as a Trustee, and Andrew Harbert and Anthony Scott-Hopkins were appointed. 

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Without doubt, the museum owes a huge debt of gratitude to our Director, Helen Bishop-Stephens, who has worked tirelessly to prepare us for the next phase of development - independence from the MoD in 2030. 

**Full details of the charity’s purposes, main activities, achievements and performance are set out in the report below.** 

## **Our Charitable Purposes** 

## **The purposes of the charity are:** 

- To be the authority on the history of The Duke of Cornwall’s Light Infantry, its antecedent and successor units, particularly The Light Infantry, the Cornish Militia and Volunteer units. 

- To sustain and develop a first-class museum that educates, entertains, inspires and contributes to the wellbeing of the local community. 

- To advance the education of the public in general on the subject of Cornish, British and International Military History by the maintenance of and improvements to, Cornwall’s Regimental Museum and its associated Memorials. 

- To provide the relief of financial hardship among the retired members and their immediate families of The Duke of Cornwall’s Light Infantry by the provision of grants for goods and services which they otherwise could not afford through lack of means. 

The Trustees recognize that the charity must report each year on how they have carried out their charity’s purpose for the public benefit. 

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit. 

- The Trustees believe that purposes satisfy both elements of the public benefit requirement. The direct benefits are as follows: 

   - (a) Maintaining a collection and permanent display of artefacts and objects to preserve Cornish, British and International Military history for public enjoyment. 

   - (b) Providing a space for public to research Cornish, British and International Military History. 

   - (c) Promoting the history and information about Cornish, British and International Military History, sharing stories about the people who lived there through artefacts and objects. This is done through permanent and temporary displays at the museum, occasional displays in the community, regular articles in local publications, information and blogs on the museum’s website, sharing archive photographs through social media, special event days, talks on local history and guided walks around the town. 

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- (d) Providing educational space for schools and children to learn about the history Cornish, British and International Military History. Our learning programme includes workshops linking to the national curriculum on site at the museum. Our programming for local families in school holidays also encourages visits to the museum and shared information about local history and people. 

## **Our Main Activities** 

A brief summary of the main activities normally undertaken by the charity to carry out its purposes for public benefit is as follows: 

- To open the museum on average 5 days each week, making our collection readily available to the visiting public 

- To develop the museum’s collection and displays for the public benefit 

- To actively encourage and continue to develop visits by school groups and young people to the museum 

- To provide a high-quality research service for the public 

- To plan and raise funds to sustain and develop the buildings and work of the museum to support its long-term sustainability 

## **Achievements and Performance in 2023** 

## **Visitor Numbers and Income** 

Visitor numbers remained stable at 6976 in 2023 against 6900 in 2022. This was against a 20% reduction in visitors to the county recorded by Visit Cornwall. 

In addition, 1065 school children and 165 accompanying adults attended a learning session at the museum in 2023. 446 museum visitors took part in a paid-for school holiday activity. 

A review of ticket pricing in January 2023 led to an increase in adult and children tickets to £9 and £5 (from £7 and £3). which increased ticket income to £37,363. Free entry remained for children under five and 322 visitors used their annual pass for a repeat visit. 

The museum has used a Google Ad grant to implement ‘paid-for’ campaigns aimed at the wider visitor market. The majority of 54,718 visits to the website come through organic search but the numbers searching direct or through paid for content is increasing, showing an improvement in our profile. 63% are engaging with our content with visits at 1.21 mins each which is in-line with other museums and visitor attractions. 

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## **Exhibitions** 

## **Dealing with Disaster** 

A new temporary exhibition, ‘Dealing with Disaster’, opened in June 2023, and will run until September 2024. The exhibition examines the role the British Army plays in supporting communities and repairing infrastructure in the wake of natural disasters, as well as the wider role the army plays in working to protect our environment. The exhibition was compiled with support from The Museum of Military Medicine, The Gurkha Museum, The Rifles Museum, The Royal Logistic Corps Museum, The Royal Signals Museum, Army Flying Museum, Royal Hampshire Regiment Museum, and The Royal Regiment of Scotland Museum, who loaned objects and provided information, oral histories and photographs. 

## **Gallery improvements** 

Improvements to the interpretation and displays were carried out in the Peninsular War galleries. Cases were relined and new object labels were created in line with current museum practice guidelines and Bodmin Keep branding. Several documents and textiles were taken off display to be ‘rested’. 

## **The US Army in Cornwall during WWII & ‘Brown Babies’** 

Charlotte Marchant successfully concluded her research on segregated camps in Cornwall and has presented the museum with her findings, including a complete camp location list, new images from NARA (the US National Archive), the US 29th Association Archive in Baltimore and a blog. This information has been developed into a new display. 

‘Brown Babies’, an exhibition about the children of African American GIs developed by The Mixed Museum from original research conducted by Dr Lucy Bland was displayed from 4 February-14 April. 24 people attended a webinar on the same topic and 20 people attended a study day. The event was publicised on local radio. 

## **Education Programme** 

The schools programme reached **1021 pupils and 33 schools** from across Cornwall in 2023, with our highest ever number of schools engaging in the spring and summer terms. Relationships were built with four alternative provision academies (for pupils excluded from mainstream education), enabling our Learning Manager to deliver bespoke sessions for excluded young people in the museum. Learning sessions were delivered in schools or other educational settings to 583 pupils. 

Two new schools’ sessions were developed for delivery in the 2023/24 academic year. ‘Trench Letter Writing’, an immersive/sensory-based session, draws upon on letters from the archives and will 

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develop students’ historical knowledge and writing skills, and ‘Art and War’, a Key Stage 4 (Year 10-11) session focusing on a range of artwork within the museum and the archives. 

**8** young people aged 14-16 took part in the first Young Curators programme which was delivered by the Learning Manager and Assistant Curator. Over a five-week period, participants engaged with the collections, taking photos and producing content for social media, as well as creating labels for their favourite objects. The young people taking part came from a diverse range of backgrounds with three of the seven students having special educational needs and disabilities (SEND) and social and emotional mental health (SEMH) needs and accessing alternative provision. 

The museum ran ten monthly ‘Saturday Soldiers’ sessions which provide a ‘relaxed’ environment for family groups with neurodivergent or special educational needs to visit the museum and participate in learning work and creative sessions. 

## **Informal Learning** 

New summer activities linking to the theme of ‘Dealing with Disaster’ were trialled this year, with ‘Whatever the Weather’ and den building achieving 95 attendances. ‘Weapon’s Through the Ages’ is consistently popular with the public and has become a staple of our holiday offer. **Community Programme** 

The museum provided a ‘pop-up’ museum with dressing up and object handling sessions at the Royal Cornwall Show, National Armed Forces Day in Falmouth, the Big Volunteer Help Out for the Coronation Bank Holiday and Bodmin Town Day in August. It also participated in St Petroc’s Church Christmas Tree Festival. 

## **Volunteers** 

The museum has **14 regular volunteers** carrying out research and collections management and staffing the ticket desk. In 2023, the museum developed a relationship with Assisted Training and has provided year-round term-time placement for one young person. 

## **Organisational development** 

A review of the museum’s compliance procedures took place under the new Visitor Services & Operations Manager covering radiation certification, security, a fire plan and fire safety training for staff. A staff handbook is in development and policies are being reviewed by the Director. 

The Director and Management Accountant have put in place budgeting and financial processes which greatly improve financial management. 

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## **Long-Term Development Planning and MOD Relationship** 

One particular area of uncertainty that continued throughout 2023 was the ownership of the Keep. The Director continued discussions with the Head of Army Heritage Branch and Head of Army Infrastructure regarding future disposal of the Keep to the museum trust. Cornwall’s Regimental Museum is one of five Light Infantry museums in the Southwest which represent the antecedent regiments of the modern regiment, The Rifles. The Rifles undertook a review of its museums in 2022 and a decision to merge The Royal Green Jackets and The Rifles museums into a new entity as the ‘enduring’ museum was confirmed in Autumn 2024. The trust continues to focus on its future as Cornwall’s Army Museum and as 2024 begins there is the real possibility of change. Although the Keep spent much of the year shrouded by scaffolding and considerable remedial work has been done, further repair and refurbishment is needed to keep the building in good order. 

## **DCLI Welfare and War Memorials** 

There was no expenditure under the charitable object to provide the relief of financial hardship among the retired members and their immediate families of The Duke of Cornwall’s Light Infantry. The US 29[th] Infantry Division memorial was remade by Drew Memorials. The restoration was completed with financial assistance from the US 29[th] Infantry Association. 

## **Risk Management** 

The trust maintained its risk register which was reviewed regularly at trustee meetings. 

## **Financial Review** 

## **Results for the year** 

Cornwall’s Regimental Museum CIO ended 2023 with a surplus of £21,518 (2022 deficit -£22,967). The unrestricted surplus for the year was £102 (2022 deficit -£7,872). Total funds at 31 December 2023 were £297,979. Of this, £36,486 were held as restricted, £130,000 as Designated funds and £131,493 of undesignated, unrestricted funds. 

Income in 2023 was £265,139, which was a 23% increase on 2022. 33% was due to additional grant income received by the museum. In addition, the museum continued to build on its admission, increasing by 12% compared to 2022. 

Expenditure on operating the museum increased by 9% from 2023, the majority of this being related to the increase in the staffing team and administration costs, with a proportion of costs due to inflation increases. 

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## **Finance, Investments and Reserves** 

The value of our investments at 31st December 2023 was £150,488 (2022 = £150,497).  These funds were invested via brokers Walker Cripps. 

It is the duty of the Trustees of CRM to manage the charity's reserves. The reserves policy is reviewed annually by the Trustees. The charity is responsible for:- 

## **•The Museum (CRM)** 

## **• The DCLI memorials** 

- **The DCLI veterans welfare** 

In summary, the following amounts are designated from the reserves:- 

- DCLI Veterans welfare £15,000 

- War Memorials maintenance and repair £15,000 

- Museum - 18 month’s shortfall in running costs £100,000 

## **Total Designated costs for 2023 - £130,000** 

## **Statement of Trustees’ Responsibilities** 

The Trustees are responsible for preparing the Trustees’ Annual 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 & Wales/Northern Ireland 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 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 Charities SORP 2015 and (FRS 102; 

- 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; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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The trustees are responsible for keeping proper 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 

Approved by the Board of Trustees on 

and signed on its behalf by __________________________ 

Mr Peter Champness, Chairman 

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## **Independent Examiner’s report to the trustees of Cornwall Regimental Museum CIO** 

I report to the trustees on my examination of the financial statements of Cornwall’s Regimental Museum CIO (‘the charity’) for the year ended 31 December 2023, which are set out on pages 10 to 19. 

## **Responsibilities and basis of report** 

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’) 

Having satisfied myself that the accounts of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 Act. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that 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 accounts do not accord with those records [; or 

3. the accounts 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]. 

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 a member of [insert named of applicable listed body], which is one of the listed bodies 

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 accounts to be reached. 

NAME: ________________________________ ADDRESS: ________________________________ SIGNED ________________________________ DATE: ________________________________ 

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## **Cornwall’s Regimental Museum CIO Financial Statements** 

## **for the Year ending 31 December 2023** 

## **Charity Number 1174375** 

## **Statement of Financial Activities Incorporating an Income and Expendiutre Account for the Year Ending 31 December 2023** 

||**For the year ending**|**For the year ending**|**31 December**|**2023**||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|Total|
||**Notes**|**Funds**|**Funds**|**2023**|2022|
|||**£**|**£**|**£**|£|
|**Income:**|||||(See note 16)|
|Donations and legacies|2|17,632|-|**17,632**|11,833|
|Income from Charitable activities|3|45,397|184,260|**229,657**|181,360|
|Investment income||5,856|-|**5,856**|5,226|
|Fundraising & trading income|4|11,993|-|**11,993**|18,004|
|**Total**||**80,879**|**184,260**|**265,139**|216,422|
|**Expenditure on:**||||||
|Costs of raising funds||2,812|-|**2,812**|167|
|Expenditure on charitable activities||77,955|162,845|**240,800**|221,739|
|**Total**|5|**80,767**|**162,845**|**243,612**|221,906|
|**Net Income/(Expenditure)**||**111**|**21,415**|**21,527**|(5,484)|
|Unrealised Gains/(Losses)||(9)|-|**(9)**|(17,483)|
|Net Movement in Funds||102|21,415|**21,518**|(22,967)|
|Fund balances brought forward|15|261,391|15,071|**276,462**|299,429|
|**Fund Balances**||**261,493**|**36,486**|**297,979**|276,462|
|||||||



The notes of pages 12 to 19 form part of these accounts 

Page **12** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Cornwall’s Regimental Museum CIO** 

## **Balance Sheet as at 31st December 2023** 

|**Notes**<br>**Fixed assets:**<br>Tangible assets<br>8<br>Investments<br>9<br>**Current assets:**<br>Debtors<br>Stock<br>Prepayments<br>10<br>Cash at bank and in hand<br>**Liabilities:**<br>Creditors: Amounts falling due within one year<br>11<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Funds**<br>**Unrestricted funds**<br>**Designated funds**<br>DCLI Veterans<br>War Memorials<br>Operating reserves<br>**Total Designated Funds**<br>General Funds<br>**Total Unrestricted funds**<br>Restricted funds<br>12<br>Cash Funds<br>Fixed Assets<br>Total Restricted Funds<br>**Total**|**£**<br>£<br>**14,873**<br>14,571<br>**150,488**<br>150,497<br>1,102<br>2,502<br>14,455<br>7,316<br>6,800<br>2,149<br>115,093<br>101,044<br>**137,450**<br>113,011<br>(4,832)<br>(1,617)<br>**132,618**<br>111,394<br>**297,979**<br>276,462<br>15,000<br>15,000<br>15,000<br>15,000<br>100,000<br>100,000<br>**130,000**<br>130,000<br>131,493<br>131,391<br>**261,493**<br>261,391<br>22,826<br>500<br>13,660<br>14,571<br>**36,486**<br>15,071<br>**297,979**<br>276,462<br>**2023**<br>2022|
|---|---|



The notes of pages 12 to 19 form part of these accounts. 

The financial statements were approved by the Board of Trustees on ____________________ and signed on its behalf by: 

__________________________ Chairman 

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## **Notes to the Accounts for the year ended 31 December 2023** 

## **1. ACCOUNTING POLICIES** 

## **General Information** 

The Charity constitutes a public benefit entity as defined by FRS102 and is a registered charity in England and Wales.  The address of the charity is The Keep, Victoria Barracks, Bodmin, PL31 1EG. 

## **Statement of Compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 (FRS 102)(issued in October 2019) (Charities SORP (FRS 102)) and UK Generally Accepted Accounting Practice. 

## **Basis of Preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through income and expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Income** 

All income resources are included on the Statement of Financial Activities when the charity is legally entitled the income and the amount can be quantified with reasonable accuracy. 

## **Expenditure** 

Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Tangible fixed assets** 

Depreciation is used to write off each asset over its estimated useful life. Fixed assets are depreciated as follows:- 

IT equipment 25% per annum on costs Office Fixtures & fittings 25% per annum on costs Display Cases 5% per annum on costs 

Items with cost price of £500 and above will be included in fixed assets. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

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## **Exemption from preparing a cash flow statement** 

The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. 

## **Fund accounting** 

The unrestricted fund has arisen through general fundraising, unrestricted donations and surpluses from pursuing the charity’s objectives. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

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## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

|**tes to the Accounts for the year ended 31 Decem**|**ber 2023****_(continued)_**|
|---|---|
|**2 Donations and Legacies**<br>Donations<br>Gift Aid<br>Second hand books and refreshments<br>**3 Income from Charitable Activities**<br>Admissions<br>Learning Income<br>Business Interruption Insurance<br>Grants<br>AIM Pilgrim Trust Fund|£<br>£<br>**14,438**<br>7,734<br>**703**<br>2,176<br>**2,491**<br>1,923<br>**17,632**<br>11,833<br>**£**<br>£<br>**37,363**<br>33,430<br>**6,844**<br>5,293<br>**-**<br>2,150<br>**499**<br>-<br>**2023**<br>2022<br>**2023**<br>2022|
|Arts Council Unlocking Collections Grant|**44,771**<br>-|
|Cornwall Council small grants<br>Creative Kernow Ltd - Development Project<br>Imperial War Museum<br>MOD GIA Salary<br>MOD Armed Forces Day<br>NPO Re-imbursement<br>AMOT - Donations Project<br>Cornwall Council Covid Business payment<br>Cornwall Museum Partnership Tresorys Kernow project<br>Cultivator Apprentice Claim<br>Total Grants<br>Events|**200**<br>-<br>**1,000**<br>500<br>**1,472**<br>3,592<br>**29,685**<br>22,305<br>**5,335**<br>-<br>**101,298**<br>79,596<br>**-**<br>3,218<br>**-**<br>5,682<br>**-**<br>21,000<br>**-**<br>3,167<br>**184,260**<br>139,060|
|Other Events|**1,190**<br>1,427|
|Total income from charitable activities<br>4 **Fundraising and trading income**<br>Museum Shop Sales<br>Room Lettings|**229,657**<br>181,360<br>**9,093**<br>12,074<br>**2,900**<br>5,930<br>**11,993**<br>18,004|



Page **16** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

## **5 Total Expenditure** 

## **Analysis of expenditure on charitable activities** 

|IWM Project<br>Arts Council - Unlocking Collections<br>AMOT Donations Project<br>Armed Forces Day<br>Tresorys Kernow Project<br>SPLANNA project<br>Collections<br>NPO Expenses|**2023**<br>2022<br>£<br>£<br>3,877<br>653<br>13,198<br>-<br>-<br>3,182<br>3,975<br>-<br>-<br>18,423<br>-<br>10,403<br>7,599<br>200<br>-<br>7,100|
|---|---|
|Learning Expenditure|2,770<br>542|
|Other Events<br>Shop<br>Shopify Charges<br>Retail equipment<br>Stock Purchases<br>Total Shop<br>Staff Costs<br>Lecture Administration<br>Support Costs<br>Governance<br>**Total Expenses**|250<br>193<br>**31,668**<br>40,696<br>647<br>760<br>1,621<br>-<br>5,281<br>2,014<br>**7,548**<br>**2,774**<br>159,526<br>142,883<br>40,513<br>33,894<br>1,544<br>1,491<br>**240,800**<br>**221,739**|



Page **17** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




|**Analysis of support and governance costs**<br>Marketing & Publicity<br>Depreciation<br>Administration<br>End of Year Accounts<br>Independent Examination<br>Premises<br>Sundry Expenses<br>**Total expenditure**|**£**<br>14,382<br>1,445<br>21,886<br>150<br>300<br>3,894<br>-<br>**42,057**|**£**<br>_95%_<br>14,382<br>1,445<br>20,792<br>-<br>-<br>3,894<br>-<br>**40,513**<br>**General**|2022<br>Basis<br>**£**<br>**£**<br>_5%_<br>-<br>**14,382**<br>10,176<br>_100%_<br>-<br>**1,445**<br>911<br>_100%_<br>1,094<br>**21,886**<br>18,628<br>_95/5%_<br>150<br>**150**<br>260<br>_100%_<br>300<br>**300**<br>300<br>_100%_<br>-<br>**3,894**<br>4,935<br>_100%_<br>-<br>**-**<br>175<br>_100%_<br>**1,544**<br>**42,057**<br>35,385<br>**Governance**<br>**2023**|
|---|---|---|---|



Page **18** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

## **6 Net income for the year** 

This is stated after charging:- 

|Depreciation<br>**7 Staff Costs and numbers**<br>Salaries & Wages<br>Employers National Insurance<br>Pensions|**2023**<br>2022<br>£<br>£<br>1,445<br>911<br>**2023**<br>2022<br>**£**<br>**£**<br>149,872<br>132,267<br>7,207<br>8,427<br>2,447<br>2,189<br>159,526<br>142,883|
|---|---|



The charity had an average of 7 employees during the year (2022 - 7) The average number of employees during the year were calculated on the basis of average monthly head count 

No employee received employee benefits of more than £60,000 during the year (2022: Nil). 

## **8 Tangible fixed assets Netherfield Display Cases** 

|**Cost**<br>**£**<br>At start of year<br>18,215<br>Additions<br>Disposals<br>At the end of year<br>18,215<br>**Depreciation**<br>At start of year<br>3,644<br>Charge for year<br>911<br>Disposals in year<br>At the end of year<br>4,555<br>Net value at End of 2022<br>14,571<br>**Net book value at year end 2023**<br>**13,660**<br>**Display Cases**|**IT**<br>**Equipment**<br>**Total**<br>**£**<br>**£**<br>1,429<br>19,644<br>1,747<br>1,747<br>3,176<br>21,391<br>1,429<br>5,073<br>534<br>1,445<br>1,963<br>6,518<br>-<br>14,571<br>**1,213**<br>**14,873**|
|---|---|



Page **19** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

|**9 **|**Investments**|||
|---|---|---|---|
|||**2023**|2022|
|||£|£|
||Walker Crips|150,488|150,497|
||Total Investments|**150,488**|150,497|
||Investments are shown at market value at year end|||



|**10 Prepayments & Accrued Income**<br>Shopify<br>HMRC Tax and NI<br>Accrued Income<br>Total<br>**11 Creditors**<br>Trade Creditors<br>Tax and NI<br>Pensions<br>Accrued Expenses<br>Independent Examination<br>Accounts Preparation<br>QuickBooks Subscription<br>Total Accrued Expenses<br>**Total**|**2023**<br>**2022**<br>**£**<br>**£**<br>762<br>254<br>-<br>1,895<br>6,038<br>-<br>6,800<br>2,149<br>**2023**<br>**2022**<br>**£**<br>**£**<br>1,011<br>-<br>3,032<br>-<br>339<br>827<br>300<br>300<br>150<br>250<br>-<br>240<br>450<br>790<br>4,832<br>1,617|
|---|---|



Page **20** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

|**12**<br>**Restricted Funds**<br>**Fixed Assets**<br>Sir John Moore Room<br>**Cash funds**<br>AMOT - Collections Manager<br>Cornwall Council<br>Imperial War Museum<br>AIM Pilgrim Trust Fund<br>Armed Forces Day<br>Creative Kernow Ltd - Development Project<br>Arts Council - Unlocking Collections<br>NPO Reimbusrement<br>**Totals**|**31st Dec 22**<br>**£**<br>14,571<br>-<br>-<br>-<br>-<br>-<br>500<br>-<br>-<br>500<br>**15,071**|**Income**<br>**£**<br>-<br>29,685<br>200<br>1,472<br>499<br>5,335<br>1,000<br>44,771<br>101,298<br>184,260<br>**184,260**|**Expenditure**<br>**31st Dec 23**<br>**£**<br>**£**<br>_(Depreciation)_<br>911<br>13,660<br>29,685<br>-<br>200<br>-<br>1,472<br>-<br>499<br>-<br>5,335<br>-<br>1,500<br>-<br>21,945<br>22,826<br>101,298<br>-<br>161,934<br>22,826<br>**162,845**<br>**36,486**|
|---|---|---|---|
|||||
|**12**<br>**Prior year comparatives Restricted Funds**<br>**31st Dec 21**<br>**£**<br>**Fixed Assets**<br>Sir John Moore Room<br>15,482<br>**Cash funds**<br>AMOT - Collections Manager<br>-<br>AMOT - Donations Project<br>Cornwall Musuem Partnership - "Splanna"<br>14,684<br>Cornwall Museum Partnership Tresorys Kernow projec<br>-<br>Creative Kernow Ltd - Development Project<br>-<br>Imperial War Museum<br>-<br>Cultivator Apprentice<br>-<br>NPO Reimbursement<br>-<br>14,684<br>**Totals**<br>**30,166**||**Income**<br>**£**<br>-<br>22,305<br>3,218<br>-<br>21,000<br>500<br>3,592<br>3,167<br>79,596<br>133,378<br>**133,378**|**Expenditure**<br>**31st Dec 22**<br>**£**<br>**£**<br>_(Depreciation)_<br>911<br>14,571<br>22,305<br>-<br>3,218<br>14,684<br>-<br>21,000<br>-<br>-<br>500<br>3,592<br>-<br>3,167<br>-<br>79,596<br>-<br>147,562<br>500<br>**148,473**<br>**15,071**|



Page **21** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 


**----- Start of picture text -----**<br>
13 Net assets by fund<br>Unrestricted  Restricted  Total 2023<br>funds funds<br>£ £ £<br>Tangible assets 151,700  13,660  165,360<br>Current assets 114,624  22,826  137,450<br>Current Liabilities (4,832) - (4,832)<br>Net Assets 261,492  36,486  297,979<br>Prior year comparatives<br>Unrestricted  Restricted  Total 2022<br>funds funds<br>£ £ £<br>Tangible assets 150,497 14,571 165,068<br>Current assets 112,511 500 113,011<br>Current Liabilities (1,617) - (1,617)<br>Net Assets 261,391  15,071  276,462<br>**----- End of picture text -----**<br>


## **14 Trustee Information** 

## **Trustees remuneration and expenses** 

The trustees received no remuneration, except for travel and subsistence to meetings. (2022 – Nil) 

## **15 Related party transactions** 

There were no related party transactions. (2022 – Nil) 

Page **22** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023 




## **Notes to the Accounts for the year ended 31 December 2023** _**(continued)**_ 

## **16 Statement of Financial Activities Incorporating an Income and Expendiutre Account for the Year Ending 31 December 2022** 

||_For the year ending_|_31st December_|_2022_|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|
||**Funds**|**Funds**|**2022**|
||**£**|**£**|**£**|
|**Income:**||||
|Donations and legacies|11,833|-|**11,833**|
|Income from Charitable activities|47,982|133,378|**181,360**|
|Investment income|5,226|-|**5,226**|
|Fundraising & trading income|18,004|-|**18,004**|
|**Total**|**83,044**|**133,378**|**216,422**|
|**Expenditure on:**||||
|Costs of raising funds|167|-|167|
|Expenditure on charitable activities|73,266|148,473|**221,739**|
|**Total**|**73,433**|**148,473**|**221,906**|
|**Net Income/(Expenditure)**|**9,611**|**(15,095)**|**(5,484)**|
|Unrealised Gains/(Losses)|(17,483)|-|**(17,483)**|
|Net Movement in Funds|(7,872)|(15,095)|**(22,967)**|
|Fund balances brought forward|269,263|30,166|**299,429**|
|**Fund Balances**|**261,391**|**15,071**|**276,462**|
|||||



Page **23** of **23** Cornwall’s Regimental Museum CIO Annual Accounts 2023