**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 - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 5 continued... **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 continued... **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 continued... ## **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 continued... **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| Page 11 continued... **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| |---|---|---| Page 12 continued... ## **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| Page 13 continued... **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