2023-03-31-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 tothe financial statements

					Forthe	year ending	31March 2023	31March 2023
					unrestricted	Restricted		Endowment	Total	Tota I
				Notes	Funds	Funds		funds	2022/23	2021/22
					E	E			E	f
Incoming resources:										(see note ts)
Activities to further the	charitable		objectives	2
Grants					28,000	15,929			43'929	108,824
Subscriptions					3,584				3,584	3,047
Donations and legacies					12,683				12,683	14,923
Education Income					14,890				14,890	6,786
Museum Admission	fees				23,327				23,327	14,988
Activities to generate funds
Fundraising					1,142				1,142	5
Shop Sales				3	11,125				11,125	7,479
Tourist Information	Centre			4	25,896				25,896	17,089
Other income					3,243				3,243	5,838
Interest receivable					880					20
Total incoming resources					124,770	15,929			140,699	178,999
Expenditure on:
Costs ofgenerating funds
Fundraising					206				206	20
Shop - Cost ofsales					7,096				7,096	3,413
Total costs ofgenerating		funds			7,302				7302	3,433
Net Incoming resources	available		for
charitable application					117,468	15,929			133,397	175,566
Resources expended
Charitable expenditure
Cost ofoperating the		museum			126,410	28,526		7,704	162,640	145,827
Managing and administering			the CIO		8,522				8,522	8,738
Total resources expended					134,932	28,526		7,704	171,162	154,566
Net incoming (outgoing)	resources before
transfers					(17,464)	(12,597)		(7,704)	(37,766)	21,000
Transfers					(145)		145
Net incoming (outgoing)		resources after
transfers					(17,609)	(12,452)		(7,704)	(37,766)	21,000
Totalfunds at 1April 2022					191,865	26,700		556,976	775,540	754,540
Total funds at 31March	2023				174,256	14,248		549,271	737,775	775,540

		BALANCE S	HEET
At 31stMarch 2023
			Notes	2022/23	2021/22
				f	f
Fixed assets:
Tangible assets				582,385	590,090
Current assets:
Stock				4,914	4,361
Debtors				5,635	4,434
Cash at bank and	in	hand		152,129	179,798
				162,678	188,593
Liabilities:
Creditors: Amounts		falling due within one year	9	(7,288)	(3,142)
Net current assets				155,389	185,451
Net Assets				737,775	775,540
Capital funds
Endowment			10	549,271	556,976
Unrestricted funds
Unrestricted			14	171,318	188,922
Designated			11	2,937	2,943
				174,256	191,865
Restricted funds			12	14,248	26,700
Total				737,775	775,540

			Unrestricted	Restricted	Totalfunds	Tota Ifunds
			funds	funds	2022/23	2021/22
Mid Devon District Council
Service Level Agreement			27,500		27p500	27,500
Covid-19 Support						24,000
Tiverton Town Council - GeneralFund			500		500	500
Tiverton War Memorial				500	500	500
Viscount Amory's Charitable		Trust - Education		9,000	9,000	9,000
Girdlers Company Education						1,090
Heritage Compass						2,400
Norman Family Charitable	Trust					5,000
Elmgrant Trust						500
Devon County Council Locality budget				1,947	1,947
Bristol Council- Tiverton Tots				3,000	3,000
Groundwork- Kids in Tiverton				500	500
Bristol Council- On display				747	747
Collections rationalisation				235	235	348
Art Council						37,622
Posy ring						300
Coronavirus job retention	scheme					64
			28,000	15,929	43,929	108,824

Tourist Information	Centre
		2022/23	2021/22
		6	6
Coach agency and job centre		17,210	7,535
Fees and accommodation	listings	4,114	4,754
Theatre tickets and events		72	300
		21,396	12,589
Grant towards running costs **		4,500	4,500
Total Tourist Information	Centre income	25,896	17,089

Resources ex	pe	nded
								Managing	and
					Costs ofoperating the		museum	administering
					Endowment	Unrestricted	Restricted	Unrestricted		Total	Total
					expenditure	expenditure	expenditure	expenditure		2022/23	2021/22
					f	f	f	f		f	f
Water						509				509	215
Insure nce						4,007				4,007	3,811
Light and heat						8,591				8,591	5,911
Upkeep and maintenance						9,393				9,393	18,262
Postage						404			404	807	1,269
Telephone						408			408	817	1,363
Stationery, printing		and copying				781			781	1,563	2,080
Othercosts						2,550		4,101		6,652	4,454
Subscriptions									638	638	203
Accountancy and	Examination			fees					2,190	2,190	2,830
Collection and display						505				505	426
Event Expenditure						190				190
Advertising and marketing						4,810				4,810	2,266
Curator's Fund						6				6
Education costs						986				986	831
Salades						73,561	15,543			89,104	49,401
Tivvy Bumper appea		I					133			133	627
Tourist Information		Centre				19,709				19,709	6,565
Art Council							2,700			2,700	37,969
Girdlers Company											193
Norman Family Charitable			Trust				3,558			3,558	1,424
Elmgrant Trust							445			445
Tiverton War Memorial							968			968
Locality Budget Evacuation			Chair				2,037			2,037
Tiverton Tots							3,142			3,142
Viscount Amory's	Trust										6,760
Depreciation					7,704					7,704	7,704
Total Expenditure	2022/23					126,410	28,526	8,522		171,162
Total expenditure	2021/22				7,305	91,150	47,372		8,739		154,566

	Freehold
Cost
at 1April 2022 and 31March 2023	770,445
Accumulated depreciation
at 1April 2022	180,355
Charge for year	7,704
at31March 2023	188,060
Net Book Value
at31March 2023	582,385
at31March 2022	590,090

7.	Stock
		2022/23	2021/22
		f	f
	Shop	4,914	4,361
8.	Debtors and prepayments
		2022/23f	2021/22 f
	Debtors	4,515	2,947
	Other Debtors	1,120	1,487
		5,635	4,434

Creditors (Amounts due within one y	ear)
	2022/23	2021/22
	f	f
Sundry creditors	3,699	2,359
Accruals	300	300
Other Creditors	3,289	484
	7,288	3,142

new galleri	es.
		E
As at 1April	2022	556,976
Depreciation	Charge	7,704
As at 31March 2023		549,271

Endowmen	t funds (prior year comporativesf
		E
As at 1April	2021	564,281
Depreciation	Charge	7,305
As at 31March 2022		556,976

The resources	The resources	ofthe charity include the following	designated	designated	funds which	have been earmarked	have been earmarked	out
ofunrestricted		funds for specific purposes—
		Balance		1		Utilised/	Balance	31
		April 2022			Designations	released	March 2023
			E		E	E	E
Curator's	fund			2,943			l6)	2,937
				2,943				2,937

Designate	d funds (prior year	comparotives)
		Balance	1		Utilised/	Balance	31
		April 2021		Designations	released	March 2022
		E		E	E	E
Curator's	fund		2,943				2,943
			2,943				2,943

Restricted funds
		Balance 1					Balance 31
		April	2022	Receipts	Expenditure	Transfers	March 2023
		E		E	E		E
SirJohn Amory Fund			8,000				8,000
Tivvy Bumper Appeal			2,843		(133)		2,710
Collections rationalisatian			1,556	235			1,791
Art Council			2,700		(2,700)
Education Development			6,543	9,000	(15,543)
Collections fund (can &acq)			500				500
Norman Family Charitable	Trust		3,558		(3,558)
Elmgrant Trust			500		(445)	(55)
Tiverton War Memorial			500	500	(968)	(32)
Devon County Council Locality budget				1,947	(2,037)	90
Bristol Council - Tiverton Tats				3,000	(3,142)	142
Groundwork —Kids in Tiverton				500			500
Bristol Council -On display				747			747
Totals		26,700		15,929	(28,526)	145	14248

		Balance 1	Balance 1				Balance 31
		April	2021	Receipts	Expenditure	Transfers	March 2022
		E		E	E		E
Sir John Amory Fund			8,000				8,000
Attracting Audiences, Securing our Future		(1,792)				1,792
Tivvy Bumper Appeal			3,470		(627)		2,843
Collections rationaiisation			1,066	490			1,556
Visit Mid Devon			(S65)			565
Communities Together Visit Mid Devon Photograi			(118)			118
Art Council"		10,021		37,622	(44,943)		2,700
Education Development			9,000	10,090	(12,547)		6,543
Posy Ring			(350)	350
Collections fund (con &acq)			500				500
Heritage 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 Authers Gallery Fund					(399)	399
Totals		29,232		56.952	(62,358)	2,874	26,700

Analysis of net assets between f	unds
	Unrestricted	Restricted	Emdowment	TotalFunds
	funds	funds	funds	2022/23
	E	E		E
Tangible fixed assets	33,114		549,271	582,385
Net current assets	141,141	14,248		155,389
Ne't Assets	174,255	14,248	549,271	737,775

13.Analysis of net assets between fu	nds (prior year compa rat	ives)
	Unrestricted	Restricted	Emdowment	Total Funds
	funds	funds	funds	2021/22
Fund Baionces at31March 2022	E	E		E
Tangible fixed assets	33,114		556,976	590,090
Net current assets	158,750	26,700		185,450
Net Assets	191,864	26,700	556,976	775,540

Movement	in funds
		Balance 1				Balance 31
		Apdl 2022	Income	Expenditure	Transfers	March 2023
Income Funds
Unresistrictad		188,922	124,770	(142,229)	(145)	171,318
Designated		2,943				2,937
Total Income	funds	191,865	124,770	I142,234)	(145)	174,256
Endowment	funds	556,976		(7,704)		549,271
Restricted funds		26,700	15,929	(28,526)	145	14,248
Tatal funds		775,540	140,699	(178,465)		737,775

		Balance 1				Balance 31
		April 2021	Income	Expenditure	Transfers	March 2022
Income Funds
Unresistrictad		158,084	122,047	(88,335)	(2,874)	188,921
Designated		2,943				2,943
Totallncome	funds	161,027	122,047	(88,335)	(2,874)	191,864
Endowment	funds	564,281		(7,305)		556,976
Restricted funds		29,232	56,952	(62,358)	22I74	26,700
Tote(funds		754,540	178,999	(157,999)		775,540

		2022/23	2021/22
		E	f
Independent	Examination	300	300
Accounts Preparation
Payroll
		300	300

				2022/23	2021/22
				f
Salaries &	Wages			83,760	53,435
Employers	National		Insurance	2,115	106
Pensions				3,229	2,136
				89,104	55,677
Less Government		Job Retention Scheme			(64)
Net Employee costs				89,104	55,613

		2022/23	2021/22
		f	f
Trustees	remuneration	Nil	Nil
Trustees	expenses	Nil	Nil

					For the	year ending 31March 2022	year ending 31March 2022
					Unrestricted	Restricted	Endowment	Total
				Notes	Funds	Funds	funds	2022(22
					E			f
Incoming resources:
Activities to further the charitable			objectives
Grants					66,858	41,966		108,824
Subscriptions					3,047			3,047
Donations and legacies					14,923			14,923
Education Income					6,786			6,786
Museum Admission	fees				14,988			14,988
Activities to generate funds
Fundraising					5			5
Shop Sales					7,479			7,479
Tourist Information	Centre				17,089			17,089
Other income					5,838			5,838
Interest receivable					20			20
Total incoming resources					137,033	41,966		178,999
Expenditure on:
Costs ofgenerating funds
Fundraising					20			20
Shop - Cost ofsales					3,413			3,413
Total costs ofgenerating		funds			3,433			3,433
Net Incoming resources	available		for
charitable appli«ation					133,600	41p966		175,566
Resources expended
Charitable expenditure
Cost ofoperating the		museum			91,150	47,372	7,305	145,827
Managing and administering			the CI0		8,738			8,738
Total resources expended					99,888	47,372	7,305	154,566
Net incoming (outgoing)	resources before
transfers					33,712	(5,406)	(7,305)	21,000
Transfers					(2,874)	2,874
Net incoming (outgoing)	resources after
transfers					30,838	(2,532)	(7,305)	21,000
Tota I funds at 1April 2021					161,027	29,232	564,281	754,540
Total funds at 31March	2022				191,865	26,700	556,976	775,540