REGISTERED COMPANY NUMBER: 11100970 (England and Wales) REGISTERED CHARITY NUMBER: 1176638
Report of the Trustees and
Financial Statements
for the Year Ended 5 April 2023
for
We'Ll Meet Again Museum Ltd
We'Ll Meet Again Museum Ltd
Contents of the Financial Statements for the year ended 5 April 2023
| 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 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
We'Ll Meet Again Museum Ltd
Report of the Trustees for the year ended 5 April 2023
The trustees, two 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 2023. 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. The new virtual reality Avro Lancaster experience has been met with good reviews and has added to the experience of the museum.
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
Shore Road Freiston BOSTON Lincolnshire PE22 0LY
Trustees
Mr P B Britchford Director Ms L A Britchford Director Mr L Jenkins Mr M Pugh-Jones (resigned 13.5.23) Mr D Avison Mr A Barker Mr G P Overton (appointed 13.5.23) Mr R Tory (appointed 13.5.23)
Page 1
We'Ll Meet Again Museum Ltd
Report of the Trustees for the year ended 5 April 2023
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 4 December 2023 and signed on its behalf by:
Ms L A Britchford - 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 2023.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 ACA
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
4 December 2023
Page 3
We'Ll Meet Again Museum Ltd
Statement of Financial Activities for the year ended 5 April 2023
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 17,141 - Charitable activities 4 Charitable Activities 11,793 - Other trading activities 3 39,035 - Other income 1,042 - Total 69,011 - EXPENDITURE ON Raising funds 5 9,361 - Charitable activities 6 Charitable Activities 76,371 - Total 85,732 - NET INCOME/(EXPENDITURE) (16,721) - Transfers between funds 15 (562) 562 Net movement in funds (17,283) 562 RECONCILIATION OF FUNDS Total funds brought forward 74,067 (562) TOTAL FUNDS CARRIED FORWARD 56,784 - |
2023 Total funds £ 17,141 11,793 39,035 1,042 69,011 9,361 76,371 85,732 (16,721) - (16,721) 73,505 56,784 |
2022 Total funds £ 25,165 17,025 37,290 16,499 95,979 10,248 75,363 85,611 10,368 - 10,368 63,137 73,505 |
|---|---|---|
The notes form part of these financial statements
Page 4
We'Ll Meet Again Museum Ltd
Balance Sheet
5 April 2023
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 12 4,577 - CURRENT ASSETS Cash at bank 61,869 - CREDITORS Amounts falling due within one year 13 (9,662) - NET CURRENT ASSETS 52,207 - TOTAL ASSETS LESS CURRENT LIABILITIES 56,784 - NET ASSETS 56,784 - FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 4,577 61,869 (9,662) 52,207 56,784 56,784 56,784 - 56,784 |
2022 Total funds £ 2,993 76,863 (6,351) 70,512 73,505 73,505 74,067 (562) 73,505 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 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 2023
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 4 December 2023 and were signed on its behalf by:
Ms L A Britchford - 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 2023
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.
Government Grants
Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.
Government grants which have been accounted for under the accruals model, in respect of capital expenditure are recognised within income on a systematic basis over the expected useful life of the asset.
Government grants which have been accounted for under the accruals model in respect of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
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.
Page 7
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
1. ACCOUNTING POLICIES - continued
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.
2. DONATIONS AND LEGACIES
| Donations Grants 3. OTHER TRADING ACTIVITIES Café 4. INCOME FROM CHARITABLE ACTIVITIES Activity Fundraising events Charitable Activities |
2023 £ 17,141 - 17,141 2023 £ 39,035 2023 £ 11,793 |
2022 £ 12,165 13,000 25,165 2022 £ 37,290 2022 £ 17,025 |
|---|---|---|
Page 8
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
5. RAISING FUNDS
Raising donations and legacies
| Purchases Other trading activities Purchases Aggregate amounts 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 Repairs/building work Motor & travel expenses Accountancy fees Legal & professional Admin costs Bank fees Subscriptions Depreciation |
2023 2022 £ £ 4,347 6,574 2023 2022 £ £ 5,014 3,674 9,361 10,248 Direct Costs (see note 7) £ 76,371 2023 2022 £ £ 55,055 51,246 910 2,400 602 20 3,966 3,436 1,176 1,462 1,498 1,162 1,439 1,235 430 338 5,366 9,188 240 498 2,060 1,508 - 624 529 (83) 704 652 229 190 2,167 1,487 76,371 75,363 |
|---|---|
Included in accountancy fees is £412 for fees incurred in relation to the independent examination in accordance with the Charities Commission SORP requirements.
Page 9
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 2,168 | 1,486 |
| Other operating leases | 910 | 2,400 |
| TRUSTEES' REMUNERATION AND BENEFITS | ||
| Trustees' salaries | 2023 £ 55,055 |
2022 £ 51,246 |
9. TRUSTEES' REMUNERATION AND BENEFITS
Included in the above is remuneration directly paid in relation to their work for the entity. The trustees' remuneration consists of pay relating to the two directors.
Trustees' expenses
Trustees' expenses in the year amounted to £3,050 (2022: £3,050) relating to reimbursement of motor expenses. These expenses were incurred by one trustee.
10. STAFF COSTS
| 2023 £ Wages and salaries 55,055 55,055 The average monthly number of employees during the year was as follows: 2023 General Staff 2 No employees received emoluments in excess of £60,000. |
2022 £ 51,246 51,246 2022 2 |
|---|---|
Page 10
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 25,165 - Charitable activities Charitable Activities 17,025 - Other trading activities 37,290 - Other income 16,499 - Total 95,979 - EXPENDITURE ON Raising funds 6,595 3,653 Charitable activities Charitable Activities 75,363 - Total 81,958 3,653 NET INCOME/(EXPENDITURE) 14,021 (3,653) RECONCILIATION OF FUNDS Total funds brought forward 60,046 3,091 TOTAL FUNDS CARRIED FORWARD 74,067 (562) |
Total funds £ 25,165 17,025 37,290 16,499 95,979 10,248 75,363 85,611 10,368 63,137 73,505 |
|---|---|
Page 11
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
12. TANGIBLE FIXED ASSETS
| Fixtures Plant and and Computer machinery fittings equipment £ £ £ COST At 6 April 2022 185 1,904 4,046 Additions - 2,635 1,117 At 5 April 2023 185 4,539 5,163 DEPRECIATION At 6 April 2022 105 1,028 2,009 Charge for year 20 686 1,462 At 5 April 2023 125 1,714 3,471 NET BOOK VALUE At 5 April 2023 60 2,825 1,692 At 5 April 2022 80 876 2,037 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Bank loans and overdrafts (see note 14) - Trade creditors 644 VAT 1,851 Other creditors 5,158 Accrued expenses 2,009 9,662 14. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due within one year on demand: Bank overdrafts - |
Totals £ 6,135 3,752 9,887 3,142 2,168 5,310 4,577 2,993 2022 £ 562 70 217 3,523 1,979 6,351 2022 £ 562 |
|---|---|
Page 12
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
15. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between At |
|||
| At 6.4.22 | in funds | funds 5.4.23 |
||
| £ | £ | £ £ |
||
| Unrestricted funds | ||||
| General fund | 74,067 | (16,721) | (562) 56,784 |
|
| Restricted funds | ||||
| Restricted Funds | (562) | - | 562 - |
|
| TOTAL FUNDS | 73,505 | (16,721) | - 56,784 |
|
| Net movement in funds, included in the above are as | follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources Movement expended in funds £ £ |
||
| General fund | 69,011 | (85,732) (16,721) |
||
| TOTAL FUNDS | 69,011 | (85,732) (16,721) |
||
| Comparatives for movement in funds | ||||
| Unrestricted funds | At 6.4.21 £ |
Net movement At in funds 5.4.22 £ £ |
||
| General fund | 60,046 | 14,021 74,067 |
||
| Restricted funds | ||||
| Restricted Funds | 3,091 | (3,653) (562) |
||
| TOTAL FUNDS | 63,137 | 10,368 73,505 |
||
Page 13
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 95,979 | (81,958) | 14,021 |
| Restricted funds | |||
| Restricted Funds | - | (3,653) | (3,653) |
| TOTAL FUNDS | 95,979 | (85,611) | 10,368 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted Funds TOTAL FUNDS |
Net movement At 6.4.21 in funds £ £ 60,046 (2,700) 3,091 (3,653) 63,137 (6,353) |
Transfers between funds £ (562) 562 - |
At 5.4.23 £ 56,784 - 56,784 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|---|---|---|---|
| General fund | 164,990 | (167,690) | (2,700) |
| Restricted funds | |||
| Restricted Funds | - | (3,653) | (3,653) |
| TOTAL FUNDS | 164,990 | (171,343) | (6,353) |
Page 14
continued...
We'Ll Meet Again Museum Ltd
Notes to the Financial Statements - continued for the year ended 5 April 2023
16. RELATED PARTY DISCLOSURES
In the year, related party transactions consisted of £55,055 relating to trustees' remuneration payable to the directors of the company in relation to their work for the entity.
Included within the Creditors balance is an amount owing to the Trustee's of the Charity.
| Year | Period | |
|---|---|---|
| Ending | Ending | |
| 05/04/2023 | 05/04/2022 | |
| Balance Brought Forward | 3,523 | 2,762 |
| Funds Withdrawn | (59) | |
| Funds Introduced | 1,694 | 762 |
| Balance Carried Forward | 5,158 | 3,523 |
This amount was unsecured and not subject to any interest in the accounting period.
17. POST BALANCE SHEET EVENTS
As at 5th April 2023, the company continued to generate revenues through their café and admissions to the museum. The company remains a going concern for the future.
Page 15
We'Ll Meet Again Museum Ltd
| Detailed Statement of Financial Activities for the year ended 5 April 2023 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 Repairs/building work Motor & travel expenses Accountancy fees Legal & professional Carried forward |
2023 £ 17,141 - 17,141 39,035 11,793 1,042 - 1,042 69,011 4,347 5,014 55,055 910 602 3,966 1,176 1,498 1,439 430 5,366 240 2,060 - 72,742 |
2022 £ 12,165 13,000 25,165 37,290 17,025 881 15,618 16,499 95,979 6,574 3,674 51,246 2,400 20 3,436 1,462 1,162 1,235 338 9,188 498 1,508 624 73,117 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
We'Ll Meet Again Museum Ltd
Detailed Statement of Financial Activities for the year ended 5 April 2023
| Charitable activities Brought forward Admin costs Bank fees Subscriptions Plant and machinery Fixtures and fittings Computer equipment Total resources expended Net (expenditure)/income |
2023 £ 72,742 529 704 229 20 686 1,461 76,371 85,732 (16,721) |
2022 £ 73,117 (83) 652 190 27 292 1,168 75,363 85,611 10,368 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17