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2021-04-05-accounts

REGISTERED COMPANY NUMBER: 11100970 (England and Wales) REGISTERED CHARITY NUMBER: 1176638

Report of the Trustees and

Financial Statements

for the Year Ended 5 April 2021

for

We'll Meet Again Museum Ltd

We'll Meet Again Museum Ltd

Contents of the Financial Statements for the Year Ended 5 April 2021

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 14
Detailed Statement of Financial Activities 15 to 16

We'll Meet Again Museum Ltd

Report of the Trustees for the Year Ended 5 April 2021

The trustees, three of whom are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 5 April 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To provide a unique, hands on WW2 Home Front and Home Guard experience in a friendly environment. To enhance the knowledge of local and national heritage on a site of historical importance and to provide a fully integrated visitor experience whilst enhancing the local tourist economy of Boston and its environs.

Our Charitable purposes remain the same as our constitution and we have during the past year maintained our faith in attempting to deliver a unique WW2 Museum and experience for the benefit of Lincolnshire and its surroundings. Indeed, through the troubled times of Covid-19, continued to invest in the museum. A new Virtual Reality Avro Lancaster experience is now in place and we have invested in a 1945 themed police Station. All decisions are made by the Trustees with the benefit of the charity at the forefront of our minds.

The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

11100970 (England and Wales)

Registered Charity number

1176638

Registered office

3 Shore Road Freiston BOSTON Lincolnshire PE22 0LY

Trustees

Mr P B Britchford Trustee Ms L A Leighton Trustee Mr P Pimperton Trustee (resigned 21.6.21) Mr L Jenkins Trustee Mr M Pugh-Jones Trustee Mr M Hallett Trustee

Page 1

We'll Meet Again Museum Ltd

Report of the Trustees for the Year Ended 5 April 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. Trustee

Page 2

Independent Examiner's Report to the Trustees of We'll Meet Again Museum Ltd

Independent examiner's report to the trustees of We'll Meet Again Museum Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mrs Joanne Brown FCCA Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

Date: .............................................

Page 3

We'll Meet Again Museum Ltd

Statement of Financial Activities for the Year Ended 5 April 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
14,297
Charitable activities
4
Charitable Activities
20,970
Other trading activities
3
7,140
Other income
39,979
Total
82,386
EXPENDITURE ON
Raising funds
5
3,267
Charitable activities
6
Charitable Activities
70,534
Total
73,801
NET INCOME
8,585
RECONCILIATION OF FUNDS
Total funds brought forward
14,565
TOTAL FUNDS CARRIED FORWARD
23,150		 Restricted
fund
£
43,096
-
-
-
43,096
8,697
-
8,697
34,399
5,588
39,987		 5/4/21
Total
funds
£
57,393
20,970
7,140
39,979
125,482
11,964
70,534
82,498
42,984
20,153
63,137		 5/4/20
Total
funds
£
45,123
30,566
8,475
2,872
87,036
15,207
59,896
75,103
11,933
8,220
20,153

The notes form part of these financial statements

Page 4

We'll Meet Again Museum Ltd

Balance Sheet

5 April 2021

Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
12
3,164
-
CURRENT ASSETS
Debtors
13
781
-
Cash at bank and in hand
26,544
39,987
27,325
39,987
CREDITORS
Amounts falling due within one year
14
(7,339)
-
NET CURRENT ASSETS
19,986
39,987
TOTAL ASSETS LESS CURRENT
LIABILITIES
23,150
39,987
NET ASSETS
23,150
39,987
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 5/4/21
Total
funds
£
3,164
781
66,531
67,312
(7,339)
59,973
63,137
63,137
23,150
39,987
63,137		 5/4/20
Total
funds
£
3,119
2,705
19,737
22,442
(5,408)
17,034
20,153
20,153
14,565
5,588
20,153

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 5

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We'll Meet Again Museum Ltd

Balance Sheet - continued

5 April 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Mr P Pimperton - Trustee

The notes form part of these financial statements

Page 6

We'll Meet Again Museum Ltd

Notes to the Financial Statements for the Year Ended 5 April 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance Computer equipment - 33% on cost

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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 funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Page 7

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

2.
DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
Grant
Other grants
3.
OTHER TRADING ACTIVITIES
Café
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising Events
Charitable Activities
5.
RAISING FUNDS
Raising donations and legacies
Purchases
Other trading activities
Purchases
Aggregate amounts		 5/4/21
£
14,297
43,096
57,393
5/4/21
£
43,096
-
43,096
5/4/21
£
7,140
5/4/21
£
20,970
5/4/21
£
11,060
5/4/21
£
904
11,964		 5/4/20
£
37,623
7,500
45,123
5/4/20
£
-
7,500
7,500
5/4/20
£
8,475
5/4/20
£
30,566
5/4/20
£
10,830
5/4/20
£
4,377
15,207

Page 8

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

6. CHARITABLE ACTIVITIES COSTS

Charitable Activities
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Trustees' remuneration etc
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs/Building Work
Motor & Travel Expenses
Accountancy Fees
Legal & Professional
Admin Costs
Bank Fees
Subscriptions
Depreciation
8.
NET INCOME/(EXPENDITURE)		 Direct
Costs (see
note 7)
£
70,534
5/4/21
5/4/20
£
£
47,984
34,500
1,200
-
3,304
330
3,074
2,528
566
1,932
1,231
2,211
1,471
271
1,266
399
126
702
4,241
9,914
1,278
414
1,652
3,555
99
168
1,469
1,655
382
753
-
100
1,191
464
70,534
59,896

Net income/(expenditure) is stated after charging/(crediting):

5/4/21 5/4/20
£ £
Depreciation - owned assets 1,192 464
Other operating leases 1,200 -

Page 9

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

9. TRUSTEES' REMUNERATION AND BENEFITS

5/4/21 5/4/20
£ £
Trustees' salaries 47,984 34,500

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.

10.
STAFF COSTS
Wages and salaries
The average monthly number of employees during the year was as follows:
General Staff
No employees received emoluments in excess of £60,000.
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
37,623
Charitable activities
Charitable Activities
30,566
Other trading activities
8,475
Other income
2,872
Total
79,536
EXPENDITURE ON
Raising funds
12,347
Charitable activities
Charitable Activities
59,844
Total
72,191
NET INCOME
7,345		 5/4/21
£
47,984
47,984
5/4/21
2
Restricted
fund
£
7,500
-
-
-
7,500
2,860
52
2,912
4,588		 5/4/20
£
34,500
34,500
5/4/20
2
Total
funds
£
45,123
30,566
8,475
2,872
87,036
15,207
59,896
75,103
11,933		 5/4/20
£
34,500
34,500
5/4/20
2
Total
funds
£
45,123
30,566
8,475
2,872
87,036
15,207
59,896
75,103
11,933
87,036
15,207
59,896
75,103
11,933

Page 10

continued...

We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued OF FINANCIAL ACTIVITIES - continued OF FINANCIAL ACTIVITIES - continued OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 7,220 1,000 8,220
TOTAL FUNDS CARRIED FORWARD 14,565 5,588 20,153
12. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 6 April 2020 185 1,784 1,614 3,583
Additions - 120 1,117 1,237
At 5 April 2021 185 1,904 2,731 4,820
DEPRECIATION
At 6 April 2020 43 369 52 464
Charge for year 35 367 790 1,192
At 5 April 2021 78 736 842 1,656
NET BOOK VALUE
At 5 April 2021 107 1,168 1,889 3,164
At 5 April 2020 142 1,415 1,562 3,119
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5/4/21 5/4/20
£ £
Trade debtors - 744
VAT 781 -
Prepayments and accrued income - 1,961
781 2,705

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/21 5/4/20
£ £
Trade creditors 659 568
Social security and other taxes 1,931 -
VAT - 174
Other creditors 2,762 2,043
Accrued expenses 1,987 2,623
7,339 5,408

Included within the Creditors balance is an amount owing to the Trustee's of the Charity.


Year Ending
05/04/2021		 Period
Ending
05/04/2020
Balance Brought Forward 2,043 4,919
Funds Withdrawn (3,050)
Funds Introduced 719 174
Balance Carried Forward 2,762 2,043

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS		 At 6.4.20
£
14,565
5,588
20,153
Incoming
resources
£
82,386
43,096
125,482		 Net
movement
At
in funds
5.4.21
£
£
8,585
23,150
34,399
39,987
42,984
63,137
Resources
Movement
expended
in funds
£
£
(73,801)
8,585
(8,697)
34,399
(82,498)
42,984

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 6.4.19 in funds 5.4.20
£ £ £
Unrestricted funds
General fund 7,220 7,345 14,565
Restricted funds
Restricted Funds 1,000 4,588 5,588
TOTAL FUNDS 8,220 11,933 20,153
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 79,536 (72,191) 7,345
Restricted funds
Restricted Funds 7,500 (2,912) 4,588
TOTAL FUNDS 87,036 (75,103) 11,933
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement At
At 6.4.19 in funds 5.4.21
£ £ £
Unrestricted funds
General fund 7,220 15,930 23,150
Restricted funds
Restricted Funds 1,000 38,987 39,987
TOTAL FUNDS 8,220 54,917 63,137

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We'll Meet Again Museum Ltd

Notes to the Financial Statements - continued for the Year Ended 5 April 2021

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS		 Incoming
resources
£
161,922
50,596
212,518		 Resources
Movement
expended
in funds
£
£
(145,992)
15,930
(11,609)
38,987
(157,601)
54,917

Included in restricted funds is grant income with the purpose of creating a virtual reality experience within the museum.

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 5 April 2021.

17. POST BALANCE SHEET EVENTS

As at the 5th April 2021 COVID-19 had occurred, generating a material impact on the general economy.

The trustees have considered the effect on the company trading to date and the anticipated impact for the next 12 months and feel the pandemic has adversely affected the trading capability of the company, however with having taken advantage of local governments grants and schemes, including a £10,000 grant that was issued by the local council in April 2020, the trustees feel that once lockdown measures have come to an end, they will be able to continue to trade as normal.

Page 14

We'll Meet Again Museum Ltd

Detailed Statement of Financial Activities for the Year Ended 5 April 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Café
Charitable activities
Fundraising Events
Other income
Solar Panel Income
HMRC Job Retention Scheme
Total incoming resources
EXPENDITURE
Raising donations and legacies
Purchases
Other trading activities
Purchases
Charitable activities
Trustees' salaries
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs/Building Work
Motor & Travel Expenses
Accountancy Fees
Legal & Professional
Admin Costs
Carried forward		 5/4/21
£
14,297
43,096
57,393
7,140
20,970
949
39,030
39,979
125,482
11,060
904
47,984
1,200
3,304
3,074
566
1,231
1,471
1,266
126
4,241
1,278
1,652
99
1,469
68,961		 5/4/20
£
37,623
7,500
45,123
8,475
30,566
911
1,961
2,872
87,036
10,830
4,377
34,500
-
330
2,528
1,932
2,211
271
399
702
9,914
414
3,555
168
1,655
58,579

This page does not form part of the statutory financial statements

Page 15

We'll Meet Again Museum Ltd

Detailed Statement of Financial Activities for the Year Ended 5 April 2021

Detailed Statement of Financial Activities
for the Year Ended 5 April 2021
Charitable activities
Brought forward
Bank Fees
Subscriptions
Plant and machinery
Fixtures and fittings
Computer equipment
Total resources expended
Net income		 5/4/21
£
68,961
382
-
35
367
789
70,534
82,498
42,984		 5/4/20
£
58,579
753
100
43
369
52
59,896
75,103
11,933

This page does not form part of the statutory financial statements

Page 16