**REGISTERED CHARITY NUMBER: 1182022** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **FOR** ## **VAGINA MUSEUM** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **VAGINA MUSEUM** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|12| |**Detailed Statement of Financial Activities**|13|to|14| ## **VAGINA MUSEUM** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021** The trustees present their report with the financial statements of the charity for the year ended 30 June 2021. 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** A summary of the purposes of the charity as set out in its governing document and the main activities undertaken in relation to those purposes are as follows: ## Charitable activities: To establish and maintain a museum dedicated to the gynaecological anatomy and its place in science, culture, society and history. ## Charitable objectives: 1. The advancement of education and the promotion of equality and diversity for the public benefit by establishing and maintaining a museum and collections focused on gynaecological anatomy and its place in science, culture, society and history. 2. Such other charitable purposes consistent with the above as the trustees in their absolute discretion shall determine. Our values: - Respect - Integrity - Empowerment - Inclusiveness ## Our mission: - Spread knowledge and raise awareness of the gynaecological anatomy and health - Give confidence to people to talk about issues surrounding the gynaecological anatomy - Erase the stigma around the body and gynaecological anatomy - Act as a forum for feminism, women's rights, the LGBT+ community and the intersex community - Challenge heteronormative and cisnormative behaviour - Promote intersectional, feminist and trans-inclusive values ## **Significant activities** Due to the pandemic, the Vagina Museum spent much of the 2020-2021 period operating with its physical premises closed. During this time, the Museum operated virtually with a programme of digital events, educational digital content, and making exhibition content accessible online. Page 1 **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021** ## **VAGINA MUSEUM** ## **ACHIEVEMENT AND PERFORMANCE Exhibition visitors:** The Vagina Museum's physical premises at Camden Market was able to open twice during the 2020 - 2021 period. In both instances, full COVID-safety precautions were taken. A test opening was held on 5th September 2020 to see if opening to the public was feasible with appropriate Covid precautions and protocols. Staff and volunteer feedback determined that it was. Precautions included strict capacity limits, mask requirements, timed ticketing, and sanitation protocols. Between 3rd October 2020 to 13th December 2020, the Vagina Museum received a total of 3,160 visitors. The Museum was open Fridays and weekends only with capacity limits to Muff Busters: Vagina Myths and How to Fight Them. Based on feedback from comment cards, feedback was 85% positive. Periods: A Brief History opened on 22nd May 2021 with capacity limits and Friday and weekend openings only. In the period covered by this report (22nd May 2021 - 30th Jun 2021), it received 5,693 visitors. Based on a post-visit evaluation form, 89.6% of visitors said they knew more about the history of menstruation following their visit, and 83.4% rated their satisfaction as 7 out of 10 or higher. 82.2% rated 7 or higher when asked the question "How likely are you to recommend this exhibition to friends or family?". Of the form respondents to the Periods: A Brief History evaluation form, 84.7% of respondents were women, 12.4% were men, and 2.4% were non-binary. 83.3% identified as White, 9.1% identified as Asian, 4.3% identified as Black and 6.3% identified as mixed race. 74.3% were aged 18-34. 51.5% identified as heterosexual, 20.9% as bisexual, 10.7% as queer, 7.8% as pansexual, 6.8% as lesbian, 1.9% as gay and 1% as asexual. 18.2% identified as having a disability or health condition. ## **Events:** A total of 24 events were held during the period covered by this report; all were virtual and held through Zoom. In total, 2,154 people attended at least one event. About 20% of attendees to the six book club events were repeat attendees, indicating a community was being created.Many events were organised with external collaborators. Selected highlights include: - 20th April 2020 - 27th April 2020: Muff Busters Online A series of four virtual tours of the exhibition Muff Busters: Vagina Myths and How to Fight Them, hosted by our director and founder, Florence Schechter. Each tour took a particular focus on elements of the exhibition such as anatomy, or myths about menstruation and cleanliness. - 13th August 2020: Vulva Mandala workshop This event hosted by Hana Ayoob explored the history of mandalas in traditional Indian art, coaching guests in designing their own mandala to celebrate the vulva. - - Cliterature The Vagina Museum Book Club The Vagina Museum has launched a monthly book club, reading, and discussing books with a feminist leaning. The programme includes essays, poetry, fiction, and nonfiction. Books in the first half of 2021 included She Is Fierce, edited by Ana Sampson, Feminism Interrupted: Disrupting Power by Lola Olufemi and Blue Ticket by Sophie Mackintosh. ## **Digital activities:** In the period covered by this report, the Vagina Museum had three social media channels: Twitter, Facebook and Instagram. During this period, the Museum grew its social following by over 50% on all channels. Particular highlights include: Page 2 ## **VAGINA MUSEUM** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021** - In February 2021, the Museum tweeted an image from our collection of underwear with bleached patches, explaining that this bleaching is a result of healthy vaginal pH. This tweet was retweeted over 39,000 times, had 91.3K likes, 21 million impressions and was reported on in the global press including British, American, South African, Malawian and Nigerian news. - On Instagram, a post showing a photograph of a human cervix was liked over 12,000 times and received over 350 comments. Social media feedback is highly positive, with a frequent comment being "I never knew this, thank you." In the period covered by this report, the Vagina Museum's website received 190,000 visitors. 69% of visitors were UK-based. A total of 2,000 visitors looked at the online version of the Muff Busters exhibition. Podcast episodes released during the period of this report have received a combined total of 15,000 downloads. Podcast audience is predominantly based in the UK (approximately 65%), with further listeners from the USA and Canada. ## **Fundraising and membership:** In the period covered, the Vagina Museum has held one individual giving appeal. This was a three-day campaign to celebrate the Museum's 4th birthday. The appeal raised £1,413, and 75 individuals donated during the course of the campaign. The Vagina Museum's membership scheme is priced at £50 a year, or £6 a month. Members receive a discount on events and in the gift shop, exclusive members' events and frequent communications from the team. During the period covered by this report, the Vagina Museum acquired 194 new members. ## **Press:** During the period covered by this report, the Vagina Museum received press attention from domestic and international press. This included an article on IFLScience reporting on normal vaginal pH; domestic reports on reopening in October 2020 and May 2021; and comments on social media censorship picked up in The Independent and Dazed. ## **FINANCIAL REVIEW** ## **Financial position** During the charity's second period of operation, the total income was £148,667 compared to £242,985 last year. This was largely due to the closure during the year due to covid. Outgoings for the same period were £159,336 compared to £192,420 and this reduction is in line with the reduced operations during the year for the shop and bar. The total funds carried forward into the new financial year are £39,896. ## **Reserves policy** The Vagina Museum trustees decided in March 2020 to hold combined reserves at £50,000 split amongst the Vagina Museum and Vertical Smile Project Ltd. These reserves would be used if during the pandemic, there was not enough income to cover essential overheads including staffing, rent, taxes and bills. At the year end, the charity held unrestricted reserves of £39,896 which is in line with the reserves policy. ## **FUTURE PLANS** We are looking to expand into bigger premises within the next 2 years which will enable us to facilitate more school visits and events and if we are able to get a second gallery, this would allow us to hold more exhibitions. Page 3 ## **VAGINA MUSEUM** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** constitution. ## **Recruitment and appointment of new trustees** Trustees are recruited through an open application process by advertising on our website and relevant volunteering job boards. Applications are reviewed by the trustee board and suitable candidates invited to interview with at least two existing trustees. No one outside the trustee board participates in the selection process. ## **Related parties** The Vagina Museum has a trading subsidiary - Vertical Smile Project Ltd. Company number 10812443. Vertical Smile Project Ltd is a company limited by shares and all shares are owned by the Vagina Museum. Its registered office address during this period was c/o Sedulo Group Limited 62-66 Deansgate, Manchester, M3 2EN. It is now 18 Victoria Park Square, London, E2 9PF as of March 2022. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1182022 **Principal address** ENTER 18 Victoria Park Square London E2 9PF ## **Trustees** Florence Schechter Sarah Harman Jo Joyce Mae Kayukwa Niharika Jain Jennifer Simmons Kristina Johansson ## **Independent Examiner** Sedulo Accountants Limited Chartered Certified Accountants 62-66 Deansgate Manchester M3 2EN 29th April 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... Ms F Schechter - Trustee Page 4 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VAGINA MUSEUM** ## **Independent examiner's report to the trustees of Vagina Museum** I report to the charity trustees on my examination of the accounts of Vagina Museum (the Charity) for the year ended 30 June 2021. ## **Responsibilities and basis of report** As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Daniel Wilson FCCA Sedulo Accountants Limited Chartered Certified Accountants 62-66 Deansgate Manchester M3 2EN Date: ............................................. Page 5 ## **VAGINA MUSEUM** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021** |Year Ended
30.6.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
102,177
**Charitable activities**
Exhibitions and events
14,955
Other trading activities
2
31,535
**Total**
148,667
**EXPENDITURE ON**
Raising funds
20,031
**Charitable activities**
Exhibitions and events
135,787
Other
3,518
**Total**
159,336
**NET INCOME/(EXPENDITURE)**
(10,669)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
50,565
**TOTAL FUNDS CARRIED FORWARD**
39,896|Period
13.2.19
to
30.6.20
Total
funds
£
71,133
14,611
157,241| |---|---| ||242,985
16,188
127,740
48,492| ||192,420| ||50,565
-| ||50,565| The notes form part of these financial statements Page 6 ## **VAGINA MUSEUM** ## **BALANCE SHEET 30 JUNE 2021** |||30.6.21|30.6.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**FIXED ASSETS**|||| |Tangible assets|5|7,085|9,722| |**CURRENT ASSETS**|||| |Debtors|6|19,518|15,638| |Cash at bank||20,078|39,239| |||39,596|54,877| |**CREDITORS**|||| |Amounts falling due within one year|7|(6,785)|(14,034)| |**NET CURRENT ASSETS**||32,811|40,843| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||39,896|50,565| |**NET ASSETS**||39,896|50,565| |**FUNDS**|8||| |Unrestricted funds||39,896|50,565| |**TOTAL FUNDS**||39,896|50,565| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. 29th April 2022 and were signed on its behalf by: ............................................. F Schechter - Trustee The notes form part of these financial statements Page 7 **VAGINA MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Going concern** In common with virtually every organisation in the country, the charity has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation cannot be assessed with complete certainty, the Trustees believe they have taken all possible steps to protect the charity during this time. The Trustees have considered the impact of this issue on the charity's current and future financial position and consider that the charity has enough cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. ## **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. |Fixtures and fittings|- 20% straight line| |---|---| |Computer and equipment|- 25% straight line| ## **Related party exemption** The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. ## **Taxation** The charity is exempt from 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. continued... Page 8 ## **VAGINA MUSEUM NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021** ## **1. ACCOUNTING POLICIES - continued** ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. OTHER TRADING ACTIVITIES** |Year Ended
30.6.21
£
Fundraising events
200
Shop income
18,701
Venue hire
-
Memberships
12,634
31,535|Period
13.2.19
to
30.6.20
£
73,324
64,266
9,078
10,573| |---|---| ||157,241| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** During the period, Florence Schechter was paid £25,383 in remuneration for the position of CEO during the early stages of the charity's development. This was agreed by all Trustees and documented in the board minutes. Written confirmation was also obtained from the Charities Commission who confirmed that this was in the best interests of the Vagina Museum. This proposal is under constant review by the Trustees. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 June 2021 nor for the period ended 30 June 2020. ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|71,133| |**Charitable activities**|| |Exhibitions and events|14,611| |Other trading activities|157,241| |**Total**|242,985| |**EXPENDITURE ON**|| |Raising funds|16,188| |**Charitable activities**|| |Exhibitions and events|127,740| continued... Page 9 ## **VAGINA MUSEUM** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021** |**4.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|| |---|---|---|---|---|---| ||||||Unrestricted| ||||||fund| ||||||£| ||Other||||48,492| ||**Total**||||192,420| ||**NET INCOME**||||50,565| ||**TOTAL FUNDS CARRIED FORWARD**||||50,565| |**5.**|**TANGIBLE FIXED ASSETS**||||| |||Fixtures|||| |||and|Computer||| |||fittings|equipment||Totals| |||£|£||£| ||**COST**||||| ||At 1 July 2020 and 30 June 2021|9,041|3,319||12,360| ||**DEPRECIATION**||||| ||At 1 July 2020|1,808||830|2,638| ||Charge for year|1,808||829|2,637| ||At 30 June 2021|3,616|1,659||5,275| ||**NET BOOK VALUE**||||| ||At 30 June 2021|5,425|1,660||7,085| ||At 30 June 2020|7,233|2,489||9,722| |**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||||30.6.21||30.6.20| ||||£||£| ||Other debtors||19,518||15,638| continued... Page 10 ## **VAGINA MUSEUM** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021** ## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||30.6.21|30.6.20| |---|---|---|---| |||£|£| ||Taxation and social security|4,683|12,284| ||Other creditors|2,102|1,750| |||6,785|14,034| |**8.**|**MOVEMENT IN FUNDS**||| |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.7.20
£
50,565
50,565
Incoming
resources
£
148,667
148,667|Net
movement
At
in funds
30.6.21
£
£
(10,669)
39,896
(10,669)
39,896
Resources
Movement
expended
in funds
£
£
(159,336)
(10,669)
(159,336)
(10,669)
Net
movement
At
in funds
30.6.20
£
£
50,565
50,565
50,565
50,565|Net
movement
At
in funds
30.6.21
£
£
(10,669)
39,896
(10,669)
39,896
Resources
Movement
expended
in funds
£
£
(159,336)
(10,669)
(159,336)
(10,669)
Net
movement
At
in funds
30.6.20
£
£
50,565
50,565
50,565
50,565|Net
movement
At
in funds
30.6.21
£
£
(10,669)
39,896
(10,669)
39,896
Resources
Movement
expended
in funds
£
£
(159,336)
(10,669)
(159,336)
(10,669)
Net
movement
At
in funds
30.6.20
£
£
50,565
50,565
50,565
50,565| |---|---|---|---|---| ||||(10,669)|| ||||At
30.6.20
£
50,565
50,565|| |||||50,565| continued... Page 11 ## **VAGINA MUSEUM** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021** ## **8. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
242,985
242,985|Resources
Movement
expended
in funds
£
£
(192,420)
50,565
(192,420)
50,565| |---|---|---| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 June 2021. Page 12