Charity registration number: 1182054
The Rachel Kay-Shuttleworth Textile Collections
Annual Report and Financial Statements for the Year Ended 31 March 2024
KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
The Rachel Kay-Shuttleworth Textile Collections
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 7 |
| Statement of Trustees' Responsibilities | 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 to 20 |
The Rachel Kay-Shuttleworth Textile Collections
Reference and Administrative Details
Trustees The Rt Hon Lord Shuttleworth KG KCVO The Hon Sally Figgins Georgiana Foster Michael Millward Ashley Sutcliffe Dennis Mendoros OBE DL Ian Brown Tom Kay-Shuttleworth Charlotte Steels Charity Registration Number 1182054 Principal Office Estate Office Cowan Bridge Carnforth Lancashire LA6 2HS Independent Examiner KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Solicitors Taylors Rawlings House Exchange Street Blackburn Lancashire BB1 7JN Bankers Barclays Bank 72 St James Street Burnley Lancashire BB11 1NH
Page 1
The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
Trustees
The Rt Hon Lord Shuttleworth KG KCVO
The Hon Sally Figgins
Georgina Foster Michael Millward Ashley Sutcliffe Dennis Mendoros OBE DL
Ian Brown Fiona Richie (Resigned 25th July 2024) Charlotte Steels
Tom Kay-Shuttleworth
Objectives and activities
Objects and aims
The Charity's statement of purpose is:
To hold the Rachel Kay-Shuttleworth Collections of woven, embroidered and other materials, tapestries, garments, books, objects d'art and other articles, and to realise Rachel Kay Shuttleworth's vision for inspiring people and encouraging learning through textile craft and heritage.
The aims of the Charity are:
1 To research, document, display and care for the Collection to approved museum standards.
2 To publicly share and communicate the story of textile heritage through the Rachel Kay-Shuttleworth (RBKS) Collection.
3 To create opportunities for things to be made, skills to be shared and learned.
4 To engage a broad range of people through programmes that inspire.
5 To work with artists and arts organisations to challenge perceptions of textile heritage and reinterpret the collection for a contemporary audience.
6 To realise Miss Rachel's vision of creating a craft based centre for education and training.
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The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report (continued)
The current objectives of the Charity are to:
1 Develop a programme of collections care and collection review to ensure that collections are stored and displayed to the best possible standards, in line with Accreditation.
2 To become a resilient and financially stable organisation for the benefit of future generations.
3 Develop the Collection through research, acquisition and new interpretation to ensure relevance, build sustainability and broaden audience appeal.
4 Be a visitor destination and to deliver an excellent visitor experience by curating inclusive spaces that inspire.
5 Develop an innovative learning and community engagement programme catering to both formal (schools, colleges and universities) and informal (family and community based) learning.
6 Work in close partnership with Gawthorpe site partners, local museums, arts and educational organisations within Pennine Lancashire to deliver efficient and effective programmes and services and to raise the profile of the Collection.
7 Work with national textile organisations to share knowledge and expertise.
When planning activities for the year, the Trustees have considered the Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of education.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
Key activities undertaken have included:
Relocation of the organisation to Northlight - In 2021 the Trustees commissioned a report to look at how best to secure the long-term viability of the Collection. The conditions within the stores at Gawthorpe Hall had been deteriorating and were having a negative impact on the archive. Having reviewed the options available at Gawthorpe it was decided that in order to preserve the Collection, and secure the long term future of the organisation, the archive and offices would need to relocate to more suitable premises. Negotiations began to move into Northlight Mill and in November 2023 we moved the 30,000+ archive out of Gawthorpe Hall.
We commissioned a purpose built archive which not only provides the appropriate environment for the storage of the items but is significantly larger in size giving us the opportunity to add to the collection at a later date.
In our new space we also have a large studio space which will allow us to offer a wider range of events, talks and courses in the future.
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The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report (continued)
Cherish the Past, Create for the Future - Almost £250k funding was secured through the National Lottery Heritage Fund’s Dynamic Collections programme to improve the physical and virtual access to the collection. The first part of the project is focused on improving the documentation of the collection and re-fitting the galleries. The second part of the work was the delivery of a range of community-based workshops.
With the support of the volunteers we have been undertaking a comprehensive review of the archive and ensuring that all items are fully catalogued and taking reference photographs were possible. Whilst cataloguing the items volunteers also undertook condition checks and packed the items ready for the move.
The workshops that we ran proved to be very popular. We engaged four community artists to work with the groups on a range of activities including printmaking, embroidery and batik. All of the artists visited the collection to seek inspiration for their classes. We delivered 51 individual training sessions which supported 74 beneficiaries.
This funding from National Lottery Heritage Fund will also allow us to refit our five gallery spaces in Gawthorpe Hall. The planning for this major piece of work commenced in 2023 and preferred suppliers for the work were commissioned. The work commenced in the spring of 2024 and will conclude in the early summer.
Community Consultation - To prepare for the work that was involved in refitting the gallery spaces we commissioned an Audience Development Report. The research looked at our current and possible audiences. We also ran consultation events in the galleries and in the communities to find out what people wanted to see in the gallery spaces. This will inform the design and content of the new displays.
Lancashire's Textile Treasures - funded through the Heritage Lottery Digital Skills for Heritage Fund, this project created a platform for online collaboration and contemporary curation of regional textile related collections - www.lancashiretextilegallery.com. It is a partnership between Gawthorpe Textiles Collection, Super Slow Way and University of Central Lancashire with contributions from museums across Lancashire. We received additional funding in 2023 to allow us to extend the project and increase the reach. We ran additional workshops as well as a range of digital talks. The site was officially launched in October 2023 as part of the British Textiles Biennial.
Re:Fashion - We ran our very successful Re:Fashion project again this year. This year we ran the programme in Burnley and it attracted 16 participants. In teams they created new garments based on the theme of pattern. The work was then professional photographed and appeared in a zine. The project is a collaboration between Gawthorpe Textiles Collection, University of Central Lancashire and Super Slow Way. As part of the British Textiles Biennial we hosted an exhibition, in Burnley, to showcase some of the work of the current and previous participants.
This course is aimed at young people aged 13-18 but what we found was that adults also wanted to have a go. We successfully secured funding from Stocks Massey bequest which allowed us to put on a range of activities for adults on the same theme of using clothing, previous destined for landfill and repurposing, recycling or repairing it.
Atkinson Gallery - We loaned six quilts and coverlets to the Atkinson Museum and Art Gallery in Southport. They were displayed as part of an exhibition ‘Quilt I Grid I Pattern’ alongside abstract paintings and mixed media artworks created by artists Kevin Laycock and Christopher Harris and inspired by the patchwork in the Collection . The exhibition ran for five months.
Community outreach - We continue to work with a wide range of community groups. We have run more workshops and events in Brierfield this year as that is the new home of the collection. We also took part in the Barnoldswick Arts and Crafts weekend in February 2024. We took items from the handing collection as well as a range of craft activities for all ages. We also started a community quilt.
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The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report (continued)
Connected Communities - At the end of 2023/24 we secured funding from DCMS/ACE to deliver a Connected Communities project. The project starts in April 2024 and we are delivering this in conjunction with Towneley Hall. The project aims to address loneliness and social isolation whilst also giving participants the opportunity to access high quality volunteering opportunities.
Business Development Group - This group comprises two Board and two independent members. They have been tasked by the Board to develop unrestricted income streams to protect the long-term financial sustainability of the organisation. They have met regularly and have developed a new Business Development Strategy for the organisation with a focus on generating an income from the collection including licensing designs.
Licensing - We currently have active licensing agreements with four companies. The Business Development Group are looking to expand this now that the archive is in its new home and is more readily accessible.
Educational engagement - We continue to have a very successful partnership with the University of Central Lancashire. We have run a range of study visits both at their campus in Preston and at our new premises at Northlight. We continue to be a member of the BA Textiles and Surface Design Advisory Board at the University of Bolton and have joined the Advisory Board at Nelson and Colne College Group for Digital and Creative skills.
Volunteers - We held a recruitment event at Northlight. 11 people came to hear from staff and existing volunteers as to the volunteering opportunities that we offer. From that event we recruited eight volunteers the majority of whom will start will us in April/May 2024. We also rewrote out volunteering handbook this year.
Fundraising - We took part in the Big Give Arts for Impact scheme in March 2024 and successfully met our fundraising target.
Reach - Through the delivery of outreach programmes, talks, workshops and study visits we supported 974 beneficiaries during the year. This excludes those people that visited the Hall.
| Activity | Number of participants |
|---|---|
| Lancashire Textile Treasure (Outreach) | 294 |
| Cherish the Past (Outreach) | 74 |
| Stocks Massey | 18 |
| Talks | 245 |
| Tours | 79 |
| Study Visits | 67 |
| Total | 777 |
Financial review
The financial statements show the financial position of the charity at the year end. Total funds amounted to £309,369.
Policy on reserves
The Trustees have continued to review the risks which might affect the Collection and the Trustees' ability to realise their objectives. The Trustees consider that policies and plans sufficient to mitigate the risks are in place.
Reserves are reviewed annually. The Trustees maintain a level of reserves considered necessary to discharge its obligations in the event that the charity was to be scaled back. They also maintain a level of working capital reserve in order to successfully manage any contracts that are paid on a defrayed basis.
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The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report (continued)
Plans for future periods
The Trustees have continued to focus on the long-term vision for the organisation. Key to this vision was the relocation of the archive to Northlight to safeguard the collection. Their focus now is on developing the studio space at Northlight and creating a hub where a variety of high-quality courses, events, talks and study visits can take place. We will need to raise the profile of the organisation both locally and further afield to attract individuals, groups and academics to our new premises.
We also need to ensure that the refit of the gallery spaces at Gawthorpe is completed and opened for the summer to showcase some of the very best items that the collection has to offer.
The financial sustainability of the organisation remains paramount and the Board are looking at new ways to generate unrestricted income streams. The Business Development Group will support the Board by looking at how best to generate an income from our main asset, the Collection.
We will continue to raise the profile of the Charity and Collection both locally and more widely through linking nationally and internationally with academics and experts, delivering outreach programmes, undertaking general and targeted promotions activity, as well as continuing to deliver high quality programmes of exhibitions, workshops and events to the public - both face to face and online.
Structure, governance and management
Nature of governing document
The Charity is a Charitable incorporated Organisation (CIO). It was registered on 15 February 2019 with the Charity Commission and is governed by its Constitution dated 24 January 2019. The Charity remained dormant until 28 November 2019. On this date the Charity received the net assets of The Rachel Kay-Shuttleworth Textile Collection (registered number 516227), an existing unincorporated trust with the same charitable objective as the charity. This reconstruction was accounted for under the merger accounting method in accordance with the Charities SORP (FRS 102). The Charity's working name is Gawthorpe Textiles Collection. The Charity Commission registration number and principal office are given on the information page at the beginning of these financial statements.
Organisational structure
The Trustees agree the broad strategy and areas of activity of the Trust. They consider the performance of the Trust's investments and review the risks facing the Charity.
A Business Development Group has been established and they report to the Board. This group comprises Board representation and the Director but also includes two external members with knowledge of business, public sector and grant giving. They have been tasked with looking at how best to generate an income from our main asset, the Collection.
The charity is run by a team of four. The Director has day to day responsibility for the administration of the organisation and is supported by three part time staff namely the Curator, Collections Officer and Outreach Officer.
The paid staff team is supported by a small team of 14 dedicated volunteers.
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The Rachel Kay-Shuttleworth Textile Collections
Trustees' Report (continued)
Risk management
The trustees have a formal risk management policy in place and a strategic and operational risk register to assess risk and implement risk management strategies.
Internal risks are minimised by the implementation of procedures and authorisation processes of all transactions to ensure the consistent quality of delivery for all operational aspects of the charitable company. Procedures are in place to ensure compliance with health and safety of staff, volunteers, beneficiaries and visitors to the premises.
These procedures are periodically reviewed to ensure that they are meeting the needs of the Charity.
The annual report was approved by the trustees of the charity on 19 September 2024 and signed on its behalf by:
.........................................
The Rt Hon Lord Shuttleworth KG KCVO Trustee
Page 7
The Rachel Kay-Shuttleworth Textile Collections
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
The Rachel Kay-Shuttleworth Textile Collections
Independent Examiner's Report to the trustees of The Rachel Kay-Shuttleworth Textile Collections
I report to the trustees on my examination of the accounts of The Rachel Kay-Shuttleworth Textile Collections for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of The Rachel Kay-Shuttleworth Textile Collections 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 The Rachel Kay-Shuttleworth Textile Collections's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of The Rachel Kay-Shuttleworth Textile Collections as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Mark Heaton FCCA FCIE DChA KM
1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
19 September 2024
Page 9
The Rachel Kay-Shuttleworth Textile Collections
Statement of Financial Activities for the Year Ended 31 March 2024
| Note Income from: Donations 2 Charitable activities 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Gains/losses on investment assets Net (expenditure)/income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ 7,042 - 7,608 13,385 28,035 (68,345) (68,345) (3,974) (44,284) 59,802 15,518 209,409 224,927 |
Restricted funds £ - 181,243 - - 181,243 (109,104) (109,104) - 72,139 (59,802) 12,337 72,105 84,442 |
Total 2024 £ 7,042 181,243 7,608 13,385 209,278 (177,449) (177,449) (3,974) 27,855 - 27,855 281,514 309,369 |
Unrestricted funds £ 5,639 - 23,720 12,421 41,780 (57,535) (57,535) (14,246) (30,001) 23,334 (6,667) 216,076 209,409 |
Restricted funds £ - 109,432 - - 109,432 (93,366) (93,366) - 16,066 (23,334) (7,268) 79,373 72,105 |
Total 2023 £ 5,639 109,432 23,720 12,421 |
|---|---|---|---|---|---|---|
| 151,212 | ||||||
| (150,901) | ||||||
| (150,901) (14,246) |
||||||
| (13,935) - |
||||||
| (13,935) 295,449 |
||||||
| 281,514 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16.
The notes on pages 12 to 20 form an integral part of these financial statements. Page 10
The Rachel Kay-Shuttleworth Textile Collections
(Registration number: 1182054) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 10 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 14 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Designated funds General funds Total unrestricted funds Total funds 16 |
2024 £ 71,985 213,579 285,564 29,116 80,662 109,778 (16,829) 92,949 378,513 (69,144) 309,369 84,442 171,985 52,942 224,927 309,369 |
2023 £ - 217,553 |
|---|---|---|
| 217,553 | ||
| 11,870 143,915 |
||
| 155,785 (13,757) |
||
| 142,028 | ||
| 359,581 (78,067) |
||
| 281,514 | ||
| 72,105 136,000 73,409 |
||
| 209,409 | ||
| 281,514 |
The financial statements on pages 10 to 20 were approved by the trustees, and authorised for issue on 19 September 2024 and signed on their behalf by:
.........................................
The Rt Hon Lord Shuttleworth KG KCVO Trustee
The notes on pages 12 to 20 form an integral part of these financial statements. Page 11
The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Rachel Kay-Shuttleworth Textile Collections meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Plant and machinery
Depreciation method and rate Over 10 years straight line.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade creditors
are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 Income from donations
| Donations 3 Income from charitable activities Grant income 4 Income from other trading activities Other income from other trading activities 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds General £ 7,042 7,042 Restricted funds £ 181,243 181,243 Unrestricted funds General £ 7,608 7,608 Unrestricted funds General £ 770 12,615 13,385 |
Total 2024 £ 7,042 7,042 Total 2024 £ 181,243 181,243 Total funds £ 7,608 7,608 Total 2024 £ 770 12,615 13,385 |
Total 2023 £ 5,639 |
|---|---|---|---|
| 5,639 | |||
| Total 2023 £ 109,432 |
|||
| 109,432 | |||
| Total 2023 £ 23,720 |
|||
| 23,720 | |||
| Total 2023 £ 173 12,248 |
|||
| 12,421 |
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
6 Expenditure on charitable activities
| Note Charitable activities Depreciation, amortisation and other similar costs Staff costs Governance costs 7 |
Unrestricted funds Designated £ General £ - 18,602 4,056 - - - - 45,687 4,056 64,289 |
Restricted funds £ 49,731 - 32,042 27,331 109,104 |
Total 2024 £ 68,333 4,056 32,042 73,018 177,449 |
Total 2023 £ 73,975 - 25,424 51,502 |
|---|---|---|---|---|
| 150,901 |
7 Analysis of governance and support costs
Governance costs
| Staff costs Legal fees Independent Examiner's remuneration |
Unrestricted funds General £ 38,862 5,325 1,500 45,687 |
Restricted funds £ 27,331 - - 27,331 |
Total 2024 £ 66,193 5,325 1,500 73,018 |
Total 2023 £ 45,360 4,360 1,782 |
|---|---|---|---|---|
| 51,502 |
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs Of which relating to key management personnel: Wages and salaries Social security costs Pension costs |
2024 £ 75,373 18,453 4,409 98,235 48,485 13,299 4,409 66,193 |
2023 £ 59,720 8,638 2,426 |
|---|---|---|
| 70,784 | ||
| 36,475 6,459 2,426 |
||
| 45,360 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2024 | 2023 | |||
|---|---|---|---|---|
| No | No | |||
| Charitable activities | 4 | 4 |
No employee received emoluments of more than £60,000 during the year
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
| Cost Additions At 31 March 2024 Depreciation Charge for the year At 31 March 2024 Net book value At 31 March 2024 |
Plant and machinery £ 76,041 76,041 4,056 4,056 71,985 |
Total £ 76,041 76,041 4,056 4,056 71,985 |
|---|---|---|
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
11 Fixed asset investments
| 11 Fixed asset investments | ||||
|---|---|---|---|---|
| Other investments Other investments Cost or Valuation At 1 April 2023 Revaluation At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 12 Debtors Trade debtors Prepayments 13 Creditors: amounts falling due within one year Bank loans Trade creditors Accruals 14 Creditors: amounts falling due after one year Bank loans |
2024 £ 213,579 Listed investments £ 217,553 (3,974) 213,579 213,579 217,553 2024 £ 27,943 1,173 29,116 2024 £ 8,922 6,406 1,501 16,829 2024 £ 69,144 |
2023 £ 217,553 |
||
| Total £ 217,553 (3,974) 213,579 213,579 217,553 2023 £ 10,795 1,075 |
||||
| 213,579 | ||||
| 213,579 | ||||
| 217,553 | ||||
| 2024 £ 27,943 1,173 29,116 2024 £ 8,922 6,406 1,501 16,829 2024 £ 69,144 |
||||
| 11,870 | ||||
| 2023 £ 6,691 3,400 3,666 |
||||
| 13,757 | ||||
| 2023 £ 78,067 |
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
15 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,408 (2023 - £2,426).
16 Funds
| Unrestricted funds General Designated Closedown reserve Fixed asset reserve Total unrestricted funds Restricted funds John Murray Charitable Trust Northern Cultural Regeneration Fund Heritage Fund Other Funds Queen's Jubilee Fund Garfield Weston Foundation Cherish The Past Heritage Fund AIM Connected Communities Grant Scottish Power Foundation Total funds |
Balance at 1 April 2023 £ 73,409 136,000 - 136,000 209,409 903 42,350 7,381 6,397 74 15,000 - - - 72,105 281,514 |
Incoming resources £ 28,035 - - - 28,035 - - 19,802 900 - - 77,002 35,412 48,127 181,243 209,278 |
Resources expended £ (64,289) - (4,056) (4,056) (68,345) - (4,319) (26,883) (900) - - (77,002) - - (109,104) (177,449) |
Transfers £ Other recognised gains/(losses) £ 19,761 (3,974) (36,000) - 76,041 - 40,041 - 59,802 (3,974) - - (38,031) - (300) - (6,397) - (74) - (15,000) - - - - - - - (59,802) - - (3,974) |
Balance at 31 March 2024 £ 52,942 100,000 71,985 |
|---|---|---|---|---|---|
| 171,985 | |||||
| 224,927 | |||||
| 903 - - - - - - 35,412 48,127 |
|||||
| 84,442 | |||||
| 309,369 |
Page 18
The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
| Unrestricted funds General Designated Closedown reserve Total unrestricted funds Restricted funds Arts Council England National Lottery Ethical Textiles UCLAN John Murray Charitable Trust Northern Cultural Regeneration Fund Heritage Fund Other Funds Queen's Jubilee Fund Heritage Fund Dynamic Collections Garfield Weston Foundation Total funds |
Balance at 1 April 2022 £ 216,076 - 216,076 13,625 11,274 10,000 3,003 - 35,074 6,397 - - - 79,373 295,449 |
Incoming resources £ 41,780 - 41,780 - - - - 42,350 39,680 - 3,500 8,902 15,000 109,432 151,212 |
Resources expended £ (57,535) - (57,535) - (11,565) - (2,100) - (67,373) - (3,426) (8,902) - (93,366) (150,901) |
Transfers £ Other recognised gains/(losses) £ (112,666) (14,246) 136,000 - 23,334 (14,246) (13,625) - 291 - (10,000) - - - - - - - - - - - - - - - (23,334) - - (14,246) |
Balance at 31 March 2023 £ 73,409 136,000 |
|---|---|---|---|---|---|
| 209,409 | |||||
| - - - 903 42,350 7,381 6,397 74 - 15,000 |
|||||
| 72,105 | |||||
| 281,514 |
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The Rachel Kay-Shuttleworth Textile Collections
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
17 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ Designated £ - 71,985 101,184 100,000 37,731 - (16,829) - (69,144) - 52,942 171,985 Unrestricted funds General £ Designated £ 81,553 136,000 83,679 - (13,757) - (78,067) - 73,408 136,000 |
Restricted funds £ - 12,395 72,047 - - 84,442 Restricted funds £ - 72,105 - - 72,105 |
Total funds at 31 March 2024 £ 71,985 213,579 109,778 (16,829) (69,144) |
|---|---|---|---|
| 309,369 | |||
| Total funds at 31 March 2023 £ 217,553 155,784 (13,757) (78,067) |
|||
| 281,513 |
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