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





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|||||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<br>and legacies||||||14,923|||14,923|24,019|
|Education<br>Income||||||6,786|||6,786|136|
|Museum<br>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<br>on:|||||||||||
|Costs ofgenerating<br>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<br>application||||||133,600|41,966||175,566|227,612|
|Resources expended|||||||||||
|Charitable<br>expenditure|||||||||||
|Cost ofoperating the||museum||||91,150|47,372|7,305|145,827|133,084|
|Managing<br>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<br>(outgoing)||resources||before|||||||
|transfers||||||33,712|(5,406)|(7,305)|21,000|90,0&B|
|Transfers||||||(2,874)|2,874||||
|Net incoming<br>(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|





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|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|





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|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<br>Town Council - Opening||||up the Town|||||1,150|
|Tiverton War Memorial|||||||500|500||
|Viscount Amory's<br>Charitable||Trust||- Education|||9,000|9.000|9,000|
|Girdlers Company<br>Education|||||||1,090|1,090||
|Heritage Compass|||||||2,400|2,400||
|Norman<br>Family Charitable|Trust||||||5,000|5,000||
|Elmgrant Trust|||||||500|500||
|Collections<br>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<br>job retention|scheme|||||64|||17,698|
||||||66,858||41,966|108,824|189,776|





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|||||||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<br>from||sale|of|Christmas|cards||||120|
|Grant towards|running||costs ""||||12,589<br>4,500||1,144<br>5,000|
|"Funding||from|Mid Devon District Council and Tiverton|||Town Council|17,089||6,144|



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|S. Resources||expended||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Managing|and|||
|||||Costs ofoperating||the museum||administering||||
|||||Endowment|Unrestricted||Restncted|Unrestricted||Tota<br>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,<br>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<br>and|Examination||fees||||||2,830|2,830|1,200|
|Collection and display||||||426||||426||
|Advertising<br>and marketing|||||2,266|||||2,266|322|
|Curator's<br>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<br>Together Visit Mid Devon photof|||||||||||2,060|
|NHLF|||||||||||26,881|
|Art Council|||||||37,969|||37,969|22,350|
|Girdlers Company|||||||193|||193||
|Norman<br>Family Charitable Trust|||||||1,424|||1,424||
|Viscount Amory's||Trust|||||6,760|||6,760||
|Posy Ring|||||||||||650|
|Irrecoverable<br>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|





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||Freehold|
|---|---|
|Cost||
|at 1April 2021 and 31March 2022|770,445|
|Accumulated<br>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|



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|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||





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



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



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



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





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|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<br>Audiences,|Securing our Future||(1,792)||||||1,792||
|Tivyy Bumper Appea|I|||3,470||||(627)||2,843|
|Collections<br>rationalisation||||1,066||490||||1,556|
|Visit Mid Devon||||(565)|||||565||
|Communities<br>Together Visit Mid Devon Photograi<br>ArtCouncil *'|||(118)<br>10,021||37,622||(44,943)||118|2,700|
|Education<br>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<br>Family Charitable||Trust|||5,000||(1,442)|||3,558|
|Elmgrant<br>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|





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|||||Balance 1|Balance 1||||Balance 31|
|---|---|---|---|---|---|---|---|---|---|
|||||April|2020|Receipts|Expenditure|Transfers|March 2021|
|||||E||E|E||E|
|SirJohn Amory<br>Fund|||||8,000||||8,000|
|Attracting|Audiences,<br>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|





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||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|



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||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|



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|||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|



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|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|





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||||||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<br>~64|57,830<br>~17,6967|
|Net Employee costs|||||55,613|40,132|



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



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||||||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<br>and legacies|||||24,019|||24,019|
|Education<br>Income|||||136|||136|
|Museum<br>Admission|fees||||3,336|||3,336|
|Activities to generate<br>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<br>on:|||||||||
|Costs ofgenerating<br>funds|||||||||
|Fundraising|||||||||
|Shop - Cost ofsales|||||1,004|||1,004|
|Total costs ofgenerating||funds|||1,004|||1;004|
|Net Incoming<br>resources|available|||for|||||
|charitable<br>application|||||158,307|69,305||227,612|
|Heritage|||||||||
|Resources expended|||||||||
|Charitable<br>expenditure|||||||||
|Cost ofoperating the||museum|||72,198|53,581|7,305|133,084|
|Managing<br>and administering|||the trust||4,440|||4,440|
|Total resources expended|||||76 638|53,M1|7,305|137,524|
|Net incoming<br>(outgoing)||resources|||||||
|before transfers|||||81,669|15,724|(7,305)|90,088|
|Transfers|||||(399)|399|||
|Net incoming<br>(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|