2022-03-31-accounts - Tiverton Museum Of Mid Devon Life

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	Contents	Page
Reference	and administration details
	Trustees report
Statement	oftrustees responsibilities
Independent Examiners report
Statement offinancial activities
	Balance sheet	10
Notes to	the financial statements	11-23

				STATEME	NT OF	FINANCIAL	ACTIVITIES	ACTIVITIES
						Forthe	year ending 31March 2022
						Unrestricted	Restricted	Endowment	Total	Total
					Notes	Funds	Funds	funds	2021/22	2020/21
						E	E		E	f
Incoming resources:										(see note isl
Activities to further the charitable				objectives	2
Grants						66,858	41,966		108,824	189,776
Subscriptions						3,047			3,047	2,369
Donations and legacies						14,923			14,923	24,019
Education Income						6,786			6,786	136
Museum Admission	fees					14,988			14,988	3,336
Activities to generate funds
Fundraising						5			5	152
Shop Sales					3	7,479			7,479	2,385
Tourist Information	Centre				4	17,089			17,089	6,144
Other income						5,838			5,838	255
Interest receivable						20			20	44
Total incoming resources						137,033	41,966		178,999	22&,616
Expenditure on:
Costs ofgenerating funds
Fundraising						20			20
Shop - Cost of sales						3,413			3,413	1,004
Total costs ofgenerating		funds				3,433			3,433	1,004
Net Incoming resources	available			for
charitable application						133,600	41,966		175,566	227,612
Resources expended
Charitable expenditure
Cost ofoperating the		museum				91,150	47,372	7,305	145,827	133,084
Managing and administeding			the CIO			8,73&			8,738	4,440
Total resources expended						99,888	47,372	7,305	154,566	137,524
Net incoming (outgoing)		resources		before
transfers						33,712	(5,406)	(7,305)	21,000	90,0&B
Transfers						(2,874)	2,874
Net incoming (outgoing)		resources		after
transfers						30,838	(2,532)	(7,305)	21,000	90,088
Total funds at 1April 2021						161,027	29,232	564,281	754,540	664,452
Total funds at 31March		2022				191,&65	26,700	556,976	775,540	754,540

At 31st March	2022
			Notes	2022	2021
				E	E
Fixed assets:
Tangible assets				590,090	597,794
Current assets:
Stock				4,361	3,882
Debtors				4,434
Cash at bank and in		hand		179,798	153,284
				188,593	157,166
Liabilities:
Creditors:	Amounts	falling due within one year	9	(3,142)	(420)
Net current assets				185,451	156,746
Net Assets				775,540	754,540
Capital funds
Endowment			10	556,976	564,281
Unrestricted	funds
Unrestricted			14	188,922	158,084
Designated			11	2,943	2,943
				191,865	161,027
Restricted	funds		12	26,700	29,232
Total				775,540	754,540

2. Grants receivable		tow	a	rds the Museum
					Unrestricted		Restricted	Total funds	Total funds
					funds		funds	2021/22	2020/21
Mid Devon District Council
Service Level Agreement					27,500			27,500	27,500
Covid-19 Support					24,000			24,000	33,925
Tiverton Town Council - General			Fund					500	1,950
Tiverton Town Council - Opening				up the Town					1,150
Tiverton War Memorial							500	500
Viscount Amory's Charitable		Trust		- Education			9,000	9.000	9,000
Girdlers Company Education							1,090	1,090
Heritage Compass							2,400	2,400
Norman Family Charitable	Trust						5,000	5,000
Elmgrant Trust							500	500
Collections rationalisation							348	348	253
NHLF									39,900
Art Council **					14,794		22,828	37,622	57,600
Posy ring							300	300	300
Collections fund (cons &acqj									500
Coronavirus job retention	scheme					64			17,698
					66,858		41,966	108,824	189,776

						2021/22		2020/21
							E		E
Sales							7,479		2,385
Opening Stock						3,890		3,377
Purchases						3,884		1,509
Closing Stock						(4,361)		(3,882)
Cost of Sa Ies							3,413		1,004
Gross Profit							4,065		1,381
. Tourist Information				Centre
4 Tourist Information				Centre
						2021/22		2020/21
							E		E
Coach agency	and	job	centre				7,535		235
Fees and accommodation				listings			4,754		789
Theatre tickets	and events						300
Commission from		sale	of	Christmas	cards				120
Grant towards	running		costs ""				12,589 4,500		1,144 5,000
"Funding		from	Mid Devon District Council and Tiverton			Town Council	17,089		6,144

S. Resources		expended
								Managing	and
				Costs ofoperating		the museum		administering
				Endowment	Unrestricted		Restncted	Unrestricted		Tota I	Total
				expenditure	expenditure		expenditure	expenditure		2021/22	2020/21
				E	f		f	E		f	E
Water						215				215	265
Insurance					3,811					3,811	3,786
Light and heat					5,911					5,911	5,489
Upkeep and maintenance					18,262					18,262	1,432
Postage						635			635	1,269	32
Telephone						682			682	1,363	1,363
Stationery, printing		and copying				1,040			1,040	2,080	3,102
Other costs					1,106				3,349	4,454	854
Subscriptions									203	203	137
Accountancy and	Examination		fees						2,830	2,830	1,200
Collection and display						426				426
Advertising and marketing					2,266					2,266	322
Curator's Fund											110
Education costs						831				831
Education room											176
Salaries					49,401					49,401	57,830
Tivvy Bumper appeal							627			627
Tourist Information		Centre			6,565					6,565	2,016
Visit Mid Devon											1,065
Communities Together Visit Mid Devon photof											2,060
NHLF											26,881
Art Council							37,969			37,969	22,350
Girdlers Company							193			193
Norman Family Charitable Trust							1,424			1,424
Viscount Amory's		Trust					6,760			6,760
Posy Ring											650
Irrecoverable input		VAT									(1,300)
Depreciation				7,305			399			7,704	7,704
Total Expenditure	2021/22			7,305	91,150		47,372		8,738	154,566
Total expenditure	2020/21			7,305	72,198		53,581		4,440		137,524

	Freehold
Cost
at 1April 2021 and 31March 2022	770,445
Accumulated depreciation
at 1April 2021	172,651
Charge for year	7,704
at 31March 2022	180,355
Net Book Value
at 31March 2022	590,090
at 31March 2021	597,794

7.	Stock
			2021/22	2020/21
			f	f
	Shop		4,361	3,882
8.	Debtors and prepayments
			2021/22f	2020/21	f
Debtors			2,947
Other Debtors			1,487	912
			4,434	912
9.	Creditors (Amounts	due within one year)
			2021/22	2020/21
			f		f
Sundry creditors			2,359	420
Accruals			300
Other Creditors			484
			3,142	420

		E
As at 1April	2021	564,281
Depreciation	Charge	7,305
As at 31March 2022		556,976

Endowmen	t funds (prior year comparative'
		E
As at 1April	2020	571,586
Depreciation	Charge	7,305
As at 31March 2021		564,281

ofun	restricted funds for sp	ecific purposes—
		Balance	1		Utilised/	Balance	31
		April 2021 f		Designations E	released E	March 2022 E
Curator's	fund		2,943				2,943
			2,943

11.Desi	gnated funds (pr/or y	ear comparat/vest
		Balance	1		Utilised/		Balance	31
		April 2020 E		Designations f	released E		March 2021 E
Curator's	fund		3,053			(110)		2,943
			3,053					2,943

2. Restricted funds		NOTES TO THE	FINANCIAL	FINANCIAL	STA	TEM	ENTS
			Balance 1							Balance 31
			April	2021	Receipts		Expenditure		Transfers	March 2022
			E		E		E			E
SirJohn Amory Fund				8,000						8,000
Attracting Audiences,	Securing our Future		(1,792)						1,792
Tivyy Bumper Appea	I			3,470				(627)		2,843
Collections rationalisation				1,066		490				1,556
Visit Mid Devon				(565)					565
Communities Together Visit Mid Devon Photograi ArtCouncil *'			(118) 10,021		37,622		(44,943)		118	2,700
Education Development				9,000	10,090		(12,547)			6,543
Posy Ring				(350)		350
Collections fund (con gc acq)				500						500
Heditage Compass					2,400		(2,400)
Norman Family Charitable		Trust			5,000		(1,442)			3,558
Elmgrant Trust						500				500
Tiverton War Memorial						500				500
The Auth ers Gallery	Fund							(399)	399
Tote Is			29,232		5	.9»	~in	.358	2874	26,700

				Balance 1	Balance 1				Balance 31
				April	2020	Receipts	Expenditure	Transfers	March 2021
				E		E	E		E
SirJohn Amory Fund					8,000				8,000
Attracting	Audiences, Securing our Future			(1,792)					(1,792)
Improvements		to Education	Room		176		(176)
Tivvy Bumper		Appeal			3,470				3,470
Collections	rationalisation				813	253			1,066
Visit Mid Devon					500		(1,065)		(565)
Communities		Together Visit	Mid Devon Photograi		1,942		(2,060)		(118)
NHLF						26,881	(26,881)
Art Council						32,371	(22,350)		10,021
Education	Development					9,000			9,000
Posy Ring						300	(650)		(350)
Collections	fund (con &acq)					500			500
The Authers		Gallery Fund					(399)	399
Totals						69,305	(53,581)	399	29,232

	Unrestricted	Restricted	Emdowment	Total Funds
	funds	funds	funds	2021/22
	E	E		E
Tangible fixed assets	33,513		556,577	590,090
Net current assets	158,751	26,700		185,451
Net Assets	192,264	26,700	556,577	775,540

	Unrestricted	Restricted	Emdowment	Totalpunds
	funds	funds	funds	2020/21
Fund Balances at 31March 2021	E	E		E
Tangible fixed assets	33,513		564,281	597,794
Net current assets	127,514	29,232		156,746
Net Assets	161,027	29,232	564,281	754,540

		Balance 1				Balance 31
		April 2021	Inmme	Expenditure	TransFers	March 2022
Income Funds
Unresislricted		158,084	122,047	(88,335)	(2,874)	188,922
Designated		2,943				2,943
Total income	funds	161,027	122,047	(88335)	(2,874)	191,865
Endowment	funds	564,281		(7305)		556,976
Restricted funds		29,232	56,952	(62,358)	2,874	26,700
Total funds		754,540	178,999	(157,999)		775,540

Movement	in funds (prior yea	r comparatives)
		Balance 1				Balance 31
		April 2020	Income	Expenditure	Transfers	March 2021
Income Funds
Unresistricted		76,704	159,311	(77,532)	(399)	158,084
Designated						2,943
Total Income	funds	79,757	159,311	(77,642)	(399)	161,027
Endowment	funds	571,586		(7,305)		564,281
Restricted funds		13,109	69,305	(53,581)	399	29,232
Tote(funds		664,452				754,540

					2021/22	2020/21
					E	f
independent		Examination			300	200
Accounts	Preparation					640
Payroll						360
					300	1,200
16. Employees
					2021/22	2020/21
					f	f
Salaries	84Wages				53,435	55,793
Employers		National!nsurance			106
Pensions					2,136	2,037
Less Government			Job Retention	Scheme	55,677 ~64	57,830 ~17,6967
Net Employee costs					55,613	40,132

		2021/22	2020/21
		f	f
Trustees	remuneration	Nil	Nil
Trustees	expenses	Nil	Nil

					Unrestricted	Restricted	Endowment	Total
				Notes	Funds	Funds	funds	2020/21
					E	E		E
Incoming resources:
Activities to further the	charitable			objectives
Grants					120,471	69,305		189,776
Subscriptions					2,369			2,369
Oonations and legacies					24,019			24,019
Education Income					136			136
Museum Admission	fees				3,336			3,336
Activities to generate funds
Fundraising					152			152
Shop Sales					2,385			2,385
Tourist Information	Centre				6,144			6,144
Other income					255			255
Interest receivable					44
Total incoming resources					159,311	69,305		228,616
Expenditure on:
Costs ofgenerating funds
Fundraising
Shop - Cost ofsales					1,004			1,004
Total costs ofgenerating		funds			1,004			1;004
Net Incoming resources	available			for
charitable application					158,307	69,305		227,612
Heritage
Resources expended
Charitable expenditure
Cost ofoperating the		museum			72,198	53,581	7,305	133,084
Managing and administering			the trust		4,440			4,440
Total resources expended					76 638	53,M1	7,305	137,524
Net incoming (outgoing)		resources
before transfers					81,669	15,724	(7,305)	90,088
Transfers					(399)	399
Net incoming (outgoing)		resources		after
tra nsfers					81,270	16,123	(7,305)	90,088
Total funds at 1April 2021					79,757	13,109	571,586	664,452
Total funds at 31March		2022			161,027	29,232	564,281	754,540