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2024-04-30-accounts

A Charitable Incorporated Organisation Registered Charity Number 1183530

Trustees Report and Financial Statements For the Year Ended 30 April 2024

The BGI

Contents Page
Reference and Administration details 1
Trustees’ Report 2 - 8
Independent examiners report 9
Statement of financial activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13 - 23

The BGI

Reference and Administration Details of the Charity, its Trustees, and Advisors

Charity number: 1183530

Registered office :

National Videogame Museum, Castle House, Angel St, Sheffield City Centre, Sheffield S3 8LN

Trustees:

Andy Payne OBE Anna Poulter-Jones Ben Pearce Catriona Mary Wilson Claire Boissiere (Chair) Helen Kennedy Sir Ian Livingstone Li Ma Marcia Deakin Marie-Claire Isaaman Phoenix Perry Ruth Kanyepi

Chief Executive: Cat Powell & John O’Shea, co-CEO

Independent Examiner:

Simon Bladen FCA, Hawsons Chartered Accountants, Pegasus House, 463A Glossop Rd, Sheffield S10 2QD

Bank :

Virgin Money, 66 Fargate, Sheffield City Centre, Sheffield S1 2HE

1

The BGI

Trustees’ Report

Year Ended 30 April 2024

The trustees present their report and financial statements for the year ending 30 April 2024.

The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the company's governing document, and 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)" (Charities SORP (FRS102)).

Objectives and activities

The BGI is a Charitable Incorporated Organisation (CIO) Incorporated 22nd May 2019. Our only voting members are our trustees and our charity uses the ‘Foundation’ model for our Constitution.

The BGI is a national voice for videogame culture, heritage and education which engages the public and empowers all people, especially those from under-represented groups, to play, connect and learn through our museum, collection, and our educational and vocational programmes.

The BGI’s charitable objects are to advance the education of the public in general in the art, science, history, and technology of digital games by:

Public Benefit

When reviewing the aims and objectives of the charity and in planning future activities the Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Organisation structure

The charity operates the following structure:

Trustee Board - The Trustee Board provides legal oversight, managed by the President and the Chair. Executive Team - The Executive Team manages the organisation’s 8 permanent staff and 11 temporary staff day to day, taking major decisions including expenditure to the Chair for approval and to Trustees for anything requiring full board discussion and ratification, working within an approved procurement policy.

Museum Advisory Board - The Museum Advisory Board informs and advises on the NVM’s exhibition and collection programme development. The board is comprised of experienced leaders from the heritage sector, with two trustees from the BGI, one chairing.

Sub-groups - Groups comprising trustees, staff and Advisory Board members focus on specific areas of interest to the charity such as Governance, marketing and fundraising.

2

The BGI

Trustees’ Report

Year Ended 30 April 2024

Trustees oversee the strategic direction of the charity, reviewing and approving or amending recommendations from the Executive Team who manage the charity’s operations and programme delivery day to day. Bi-monthly trustee meetings review finances; Culture and Visitor Experience team reports and any significant changes as and when they occur. Quarterly meetings review budgets and forecasts. Annual meetings review strategic plans, annual accounts and expenditure budgets. Subgroups of trustees review all BGI press releases, fundraising and annual accounts. The Chair reviews all expenditure above levels set in our Procurement Policy, raising significant expenditure to the full trustee board as appropriate. A representative of the Trustee board attends Director level job interviews. Trustee representatives approve all Exec level hires, reviewing salary levels against industry standards for equivalent posts.

Vision

We believe videogames transform people’s lives. Videogames are an integral part of our country’s cultural heritage and future; they influence and enrich our culture, are powerful educational tools and a significant economic force. Videogames are for everyone. They contribute to mental and social wellbeing, connect people with culture, re-engage people with education, and offer accessible pathways to many exciting, rewarding and modern careers. Videogames have a unique new role to play within our society, as educational disadvantages and economic hardship reshape our world. Our vision is to transform lives with games, helping some of the most disadvantaged people within our communities to play, connect and learn through our unique National Videogame Museum, our collection, and our award winning educational and vocational programmes. By sharing the stories about the power of videogames to change people’s lives, we will inspire and unlock new opportunities for people and communities from every background.

BGI Programmes

The BGI benefits the public through the following programmes:

Culture Programme

The Culture programme engages the public in a national conversation about videogames. At the heart of the Culture Programme is the National Videogame Museum (NVM), a unique educational museum in Sheffield that houses over 100 playable exhibits, welcomed over 40,600 annual visitors in Financial Year 2024 and is the only museum dedicated to videogames in the UK. We charge for entry at levels comparable to other local visitor attractions, discounting for children, carers, and concessions. We also provide a voucher scheme for people from disadvantaged and under-represented backgrounds to visit the museum and attend workshops for free. The BGI owns a Collection of national significance, comprising 5,000 heritage objects that we preserve for the nation. The BGI operates the Videogame Heritage Society which convenes events to advise and collaborate with over 200 representatives of museums and private collectors on the science, methodology and research of videogames heritage preservation and interpretation. The NVM now produces hybrid online/offline exhibitions as standard.

3

The BGI

Trustees’ Report

Year Ended 30 April 2024

Learning programme

The Learning programme inspires young people and families to learn about games and how they are made. We operate formal and informal educational workshops in the galleries, online and in other locations which train schoolchildren and members of the public in the science, technology, engineering, arts, and maths skills used to make video games. Our online workshops provide fun learning materials and courses for those unable to visit. We welcome thousands of school children to visit and learn in the galleries and have demonstrated we can positively impact young people’s lives, re-engaging children from disadvantaged backgrounds through our fun workshops. We work closely with University of Sheffield to research games-based education as well as schools, libraries, cultural, educational and other third sector organisations in and around Sheffield.

Vocational Programme

This programme inspires people from all backgrounds to consider careers in videogames through advocacy, training, festivals and public education. We organise an annual Games Careers Week Festival which educates the public about careers in games for diverse candidates of all ages through a series of events in collaboration with National partners and supporters. We operate a careers advice course on FutureLearn which uses video interviews with diverse industry figures and young developers to share techniques to start careers in video games.

Income generation

We raise income in five main ways. We charge for entry to the NVM and museum events, setting prices in line with comparable venues and services locally and nationally, benefitting from Gift Aid where appropriate. We earn income from trading such as shop, venue hire, conferences and sponsorship. When appropriate, we raise funding from the public through appeals, fundraising from individuals and companies with the help of staff, trustees, and Museum Advisory Board members. We apply for grants from grant-giving trusts, foundations, corporate social responsibility donors and public funding sources. Trustees review bids before submission where necessary and review on an ongoing basis the safeguarding policies in place in the NVM and programmes to ensure vulnerable people are not exploited by our fundraising activity. Our fundraising is governed by an ethics policy and we are registered with the Fundraising Regulator, whose Code of Fundraising Practice we follow.

Achievements and performance

In our fifth year, we successfully navigated a cost-of-living crisis, soaring energy costs driven by global conflicts, and economic uncertainty ahead of the forthcoming UK election, while also addressing a decline in confidence in the UK videogames industry, a situation influenced by postpandemic rightsizing, intense competition for players time, and the challenges posed by AI. At the museum, visitor numbers for public sessions improved and a combination of box office revenue, event hires and modest grant and donation income sustained operations. The seasonal nature of running a visitor attraction led to peaks and troughs throughout the year, but these patterns are well understood and gave clear points within the financial year where spend could be assigned to public programme and events or restricted as appropriate. Visitor satisfaction increased (95%) and audience surveys indicated a high percentage of loyal, repeat visitors. Unrestricted income increased by 9% compared with the previous year.

4

The BGI

Trustees’ Report

Year Ended 30 April 2024

Financial review

The income for the year was £573,225 (2023: £534,532) and expenditure was £528,262 (2023: £675,165), resulting in a net surplus for the year of £44,963 (2023: net deficit of £140,633). The trustees are confident about the charity’s ability to generate income and surpluses in future based on income growth and control of costs.

The trading position entering the 2023/24 financial year showed signs of improvement, with public confidence improved and visitor numbers up. The business income remained reliant on box office, and subject to its seasonality, but the year saw improvement in both ticket and shop sales, with visitor numbers up 52% on the previous year heading into the second quarter.

School visits followed a similar trajectory, supported by work done to streamline payment processes, and at points visits were up as much as 59% from the forecast. The year saw occasional large events within the private hire strand, which bolstered quieter months, but income driven from private hire remained organic and lacked dedicated commercial focus and capacity to drive potential in this area.

The fallout from the initiation of legal proceedings in February 2023, between Kollider Projects (former landlord) and Northpoint CH (building owner), resulted in inaccurate and volatile billing against perceived arrears for rent, which was ultimately resolved in February 2024. Recalculation, delayed billing, and complexity around the service charge and utilities during the transitional period also led to forecasting and payment challenges in the 2023/24 accounting year. To guarantee security and access to the collection during this time of venue lease uncertainty, the Charity continued with an additional lease for a storage unit elsewhere in Sheffield City Centre. However, as of February 2025, the organisation is on track to have completed a year’s full payments for utilities and service charge and remains in a positive position with the building owner over a new rent agreement.

At the end of the period, the organisation began loan repayments to both the NVF and Rebellion.

New business planning, fundraising strategy and curatorial programming strands are in development by the co-CEOs who are in a dialogue with major stakeholders (public and private sector) in Sheffield, the South Yorkshire Region, and National funders and partners regarding significant future developments for the Museum in the City.

The Trustees consider the BGI (and National Videogame Museum) to be a going concern based on a balance of indicators above, the repayment of debts, increase in visitor numbers and positive grant position.

5

The BGI

Trustees’ Report

Year Ended 30 April 2024

Future strategy

The BGI’s strategy for Financial Years 2024 and 2025 is centred on diversifying income streams and reducing reliance on the visitor trends seen through the box office. As the organisation moves away from ‘survival mode’, and with the conclusion of legacy projects funded through grant bodies, we are now in the position to apply for fresh funding which appropriately compensates for staff time and allows us to attract more visitors through enhanced programming and enticing events.

We will continue to leverage opportunities to collaborate on projects which deliver social impact in our desired communities in Sheffield, Rotherham, Barnsley and Chesterfield, plus advocate for the museum as a contributor to visitor economy in the region. We will also engage the public in a national conversation about video games; share stories about how games transform lives; impact more people from all backgrounds, especially from under-represented and disadvantaged communities; open doors to careers in games for everyone; and develop our team in line with business needs.

We will progress the Culture programme to impact our visitors and community positively, developing our hybrid online/offline exhibitions; cataloguing and increasing our Collection; progressing the process of Museum Accreditation; developing a new visitor experience; and continuing our research work with multiple museum and university partners.

We will develop the Learning programme by creating more Key Stage activities, welcoming more schools and running more informal learning in the galleries; and extending our programme to more third sector partners working with under-represented groups in our community.

We will repeat the Games Careers Week in Summer 2024, extending Games Careers Week in its third year in collaboration with a wider group of stakeholders. We will use the event to advocate for STEAM education and engage the public in a positive conversation about games careers.

We will continue to build sustainable operations through sound financial management; maintain trading income growth via NVM’s ticketing and shop by marketing the NVM; review visitor surveys; grow our corporate hire offer; develop new income streams from the NVM such as sponsorship and premium NVM experiences; increase our reserves; and develop our relationship with new grant and existing funders.

To this end, we can report several successful new funding and partner relationships developed at the end of 2024 / beginning of 2025 which are starting to support the core costs of the Museum in a more resilient way than the seasonal box office revenue alone, including:

6

The BGI

Trustees’ Report

Year Ended 30 April 2024

Future strategy (continued)

Beyond this, the Museum has been able to consult and use its expertise on external projects nationally and internationally, including curating the Children’s Capital of Culture “Plug in and Play” festival (begun during this accounting period, completed 2024), providing expert advice to the Australian Centre for Moving Image (ACMI) for its upcoming playable worlds exhibition in Melbourne, and being commissioned to work as creative director for the Dept of Business and Trade for the forthcoming (July 2025) Japan 2025 Expo.

Reserves policy

Whilst the Charity strengthened and worked through the programming commitments due to grant providers, and resolved legacy debts, we have again needed to extend the period during which we will develop reserves of two to three months’ operating expenses as standard. Under current circumstances we do not expect to meet our reserves policy goals until 2026 or 2027.

Partners and related organisations

The BGI partners with the following organisations:

The BGI is grateful for the funding and support of all of our partners and stakeholders.

7

The BGI

Trustees’ Report

Year Ended 30 April 2024

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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:

The trustees are responsible for maintaining proper accounting records which 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and declaration of fraud and other irregularities.

Approved by the Trustees on 25 February 2025 and signed on its behalf by

Claire Boissiere, Chair

------------------------------------------------------------- Signature

8

The BGI

Independent Examiners Report for the year ended 30 April 2024

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 April 2024 which are set out on pages 10 to 23.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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 – matter of concern identified

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

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 charity 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 other 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.

Signed

Simon Bladen FCA

Hawsons Chartered Accountants Pegasus House, 463a Glossop Road, Sheffield, S10 2QD 26 February 2025

9

The BGI

Statement of Financial Activities

Year Ended 30 April 2024

Note
Income & Endowments
Donations & Legacies
2
Charitable Activities
3
Trading Activities
4
Other
5
Total Income
Expenditure
Fundraising
Charitable Activities
6
Trading Activities
Other
7
Total Expenditure
Net income /(expenditure)
Other recognised losses
Net movement in funds
Funds Brought Forward
Funds Carried Forward		 Unrestricted
Funds
£
45,737
413,069
58,996
966
518,768
1,073
388,967
10,067
34,364
434,471
84,297
-
84,297
(117,750)
(33,453)		 Restricted
Funds
£
-
54,457
-
-
54,457
-
93,791
-
-
93,791
(39,334)
-
(39,334)
46,010
6,676		 2024
Total Funds
£
45,737
467,526
58,996
966
573,225
1,073
482,758
10,067
34,364
528,262
44,963
-
44,963
(71,740)
(26,777)		 2023
Total Funds
£
62,826
409,947
61,421
338
534,532
625
621,573
13,124
39,843
675,165
(140,633)
-
(140,633)
68,893
(71,740)

10

The BGI

Balance Sheet

Year Ended 30 April 2024

Note
Fixed Assets
Tangible Assets
10
Heritage Assets
11
Current Assets
Stocks
Debtors
12
Cash at Bank and In Hand
Creditors:Amounts Falling Due Within One Year
13
Net Current Liabilities
Total Assets Less Current Liabilities
Creditors:Amounts Falling Due After More Than One Year
13
Net Liabilities
Charity Funds
14
Restricted Funds
Unrestricted Funds
Total Funds		 2024
£
47,697
79,887
127,584
843
22,302
8,296
31,441
(90,925)
(59,484)
68,100
(94,877)
(26,777)
(33,453)
6,676
(26,777)		 2023
£
64,875
79,887
144,762
2,731
14,392
6,302
23,425
(159,029)
135,604)
9,158
(80,898)
(71,140)
46,010
(117,750)
(71,740)

Approved by the Trustees on 25 February 2025 and signed on its behalf by

Andy Payne, Trustee

------------------------------------------------------------- Signature

11

The BGI

Statement of Cash flows

Year Ended 30 April 2024

Note
Cash flow from operating activities
16
Cash flow from investing activities
Payments to acquire tangible fixed assets
Interest received
Net cash flow from investing activities

Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 May
Cash and cash equivalents at 30 April
Cash and cash equivalents consists of:
Cash at bank and in hand		 2024
£
2,161
(1,133)
966
(167)
1,994

6,302
8,296

8,296		 2023
£
(22,662)
(3,200)
338
(2,862)
(25,524)
31,826
6,302
6,302

12

BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

1 Accounting Policies

The BGI is a registered Charitable Incorporated Organisation. If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

The nature of the charity's operations and principle activities are set out in the Trustees report.

The financial statements are prepared under the historical cost convention.

The Financial statements have been prepared in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (FRS 102).

The trustees have considered the levels of funds held and future revenue streams and as noted in the Trustees report, have prepared these financial statements on a going concern basis.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds subject to restriction imposed by the respective funding body, donor or similar.

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing.

(d) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.

It is categorised under the following headings:

13

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

1 Accounting Policies (cont.)

(e) Tangible Fixed Assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and Fittings 10 years straight line Furniture 5 years straight line Equipment 3 years straight line

(f) Heritage Assets

Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. The Collection, being items of historical value and interest such as videogame technology, media and development documentation have been valued during the year and are not depreciated.

(g) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

2 Donations and legacies

Corporate Donors
Individual Donors (including gift aid)		 2024
Unrestricted
Funds
£		 2023
Unrestricted
Funds
£
- 10,000
45,737
45,737		 52,826
62,826

14

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

3 Income from charitable activities

Museum Entry
Educational Income
Grants		 Unrestricted
Funds
£		 Restricted
Funds
£		 2024
Total Funds
£		 2023
Total funds
£
376,982 - 376,982 359,410
36,087 - 36,087 24,169
-
413,069		 54,457
54,457		 54,457
467,526		 26,368
409,947

£54,457 of grants received related to restricted funds (2023 - £26,368)

4 Income from trading activities

2024 2023
Conference Income
Consultancy Income
Sponsorship
Museum Shop Income
Private Hire		 Unrestricted
Funds
£		 Restricted
Funds
£		 Total Funds
£		 Total Funds
£
9,235 - 9,235 1,498
- - - 4,999
11,400 - 11,400 14,544
21,343 - 21,343
17,018
58,996		 25,424
17,018
58,996		 -
-		 14,956
61,421

15

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

5 Other Income

5 Other Income
2024 2023
Unrestricted Unrestricted
Funds Funds
£ £
Bank Interest 966 338

6 Summary of Expenditure incurred relating to charitable activities

Visitor Services
Curatorial
Learning
Executive Team
Marketing
Legal and Professional Fees
Estates Costs
Staffing costs		 Unrestricted
Funds

£
22,978		 Restricted
Funds
£
-		 2024
Total
Funds
£		 2023
Total
Funds
£
22,978 22,412
7,380 21,360 28,740 25,780
3,315 180 3,495 1,888
3,449 - 3,449 1,134
10,477 - 10,477 12,238
1,562 - 1,562
8,030
76,929
262,877
388,967		 -
72,251		 76,929 149,830
335,128
482,758		 400,261
621,573
93,791

7 Summary of other costs incurred during the period

Governance & Finance Costs
Depreciation		 2024
Unrestricted
Funds
£		 2023
Unrestricted
Funds
£
16,053
18,311
34,364		 16,367
23,476
39,843

16

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

8 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year to 30 April 2024.

The trustees received no reimbursement for travel and subsistence expenses incurred.

The total amount of employee benefits received by key management personnel during this period was £94,463 (2023 - £107,075).

The trustees consider its key management personnel comprise the Co-Chief Executive Officers.

9 Staff Costs

Wages and Salaries
National Insurance
Pension Contributions
Average monthly number of employees		 2024
£		 2023
£
307,662 374,194
22,457 20,825
5,009
335,128
20		 5,242
400,261
29

17

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

10 Tangible Assets

Cost/valuation
1 May 2023
Additions in year
Disposals in year
30 April 2024
Depreciation
1 May 2023
Charge for the year
Eliminated on disposal
30 April 2024
Net Book Value
30 April 2024
30 April 2023		 Equipment
£
31,048
-
-
31,048
26,634
2,975
-
29,609
1,439
4,414		 Furniture
£
36,971
-
-
36,971
23,319
7,394
-
30,713
6,258
13,652		 Fixtures &
Fittings
£
68,498
1,133
-
69,631
21,689
7,942
-
29,631
40,000
46,809		 Total
£
136,517
1,133
-
137,650
71,642
18,311
-
89,953
47,697
64,875

11 Heritage Assets

The
Collection
£
aluation
1 May 2023 and 30 April 2024 79,887

Valuation

Heritage assets were subject to independent professional valuation at 13 May 2021. The valuation was undertaken by Hansons Auctioneers and Valuers.

18

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

12 Debtors

Trade Debtors
Accrued Income
13 Creditors: Amounts Falling Due Within One Year
Bank Loan
Trade Creditors
Other Taxation and Social Security
Other Creditors
Accruals		 2024
£
19,797
2,505
22,302
2024
£
10,000
7,244
34,392
33,289
6,000
90,925		 2023
£
11,887
2,505
14,392
2023
£
10,000
50,520
32,783
59,726
6,000
159,029

13 Creditors: Amounts Falling Due After More Than One Year

Bank loan
Other Creditors		 2024
£
10,877
84,000
94,877		 2023
£
20,898
60,000
80,898

19

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

14 Fund Reconciliation

Year ended 30 April 2024
Unrestricted Funds
Restricted Funds:
Playing with Power
Children in Need
CERN/ Learn and play
Heritage Fund
Northfield Junior School
Bath Spa University
Plug in and Play
Total Funds		 Balance at 1
May 2023
£
(117,750)
19,271
-
-
22,576
1,818
2,345
-
46,010
(71,740)		 Income
£
518,768
-
9,974
1,250
39,233
-
-
4,000
54,457
573,225		 Expenditure
£
(434,471)
(19,271)
(9,974)
(400)
(60,983)
(1,818)
(1,345)
-
(93,791)
(528,262)		 Balance at 30
April 2024
£
(33,453)
-
-
850
826
-
1,000
4,000
6,676
(26,777)

20

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

14 Fund Reconciliation (continued)

Year ended 30 April 2023
Unrestricted Funds
Restricted Funds:
Art fund Respond & Re-imagine
Playing with Power
VocTech
Children in Need
English Heritage
CERN
Heritage Fund
Northfield Junior School
ACE Living Collection
Museum Development Yorkshire
Bath Spa University
Total Funds		 Balance at 1
May 2022
£
(114,901)
36,000
35,706
15,885
100
2,038
5,926
49,042
12,121
26,976
-
-
183,794
68,893		 Income
£
508,164
-
-
7,377
10,474
-
(1,249)
-
-
2,997
4,424
2,345
26,368
534,532		 Expenditure
£
(511,013)
(36,000)
(16,435)
(23,262)
(10,574)
(2,038)
(4,677)
(26,466)
(10,303)
(29,973)
(4,424)
-
(164,152)
(675,165)		 Balance at 30
April 2023
£
(117,750)
-
19,271
-
-
-
-
22,576
1,818
-
-
2,345
46,010
(71,740)

Restricted funds

Playing with Power: Funded by UKRI and Museums Association to provide workshop activities for young people from Stand and Be Counted Theatre.

Children in Need: Creative activities in Sheffield Libraries and online enabling young people to create their own videogame levels representing the future of Sheffield.

CERN: funded through Sheffield University to provide workshops and gallery activity emphasising the relationship between physics and videogames.

Heritage Fund: funded by National Lottery Heritage Fund for the establishment of a volunteer programme and collections cataloguing project.

21

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

14 Fund Reconciliation (continued)

Northfield Junior School: Funded by the University of Sheffield to create “Worldbuilders” a programme teaching teachers how to use videogames as educational resources in the classroom.

Museums Development Yorkshire: Changing with Confidence: Training for the Front of House team to improve their confidence in dealing with visitors in the post-Covid landscape. Funding by Art Fund via MDY.

Bath Spa University: Funded by ESRC to create transnational dialogue between National Videogame Museum (UK) and Ritsumeikan University (Japan) resulting in creation of online "Famicom" exhibition and formation of Videogame Heritage Society.

Plug in and Play project: The National Videogame Museum worked with Rotherham Metropolitan Borough Council to curate and produce educational workshops and a family festival for Children's City of Culture, supported by Arts Council England.

15 Analysis of net (liabilities)/assets between funds

Year ended 30 April 2024
Fixed Assets
Cash
Other current assets / (liabilities)
Creditors more than one year
Year ended 30 April 2023
Fixed Assets
Cash
Other current assets / (liabilities)
Creditors more than one year		 Unrestricted
Funds
£
127,584
1,620
(67,780)
(94,877)
(33,453)
Unrestricted
Funds
£
144,762
(37,203)
(144,411)
(80,898)
(117,750)		 Restricted
Funds
£
-
6,676
-
-
6,676
Restricted
Funds
£
-
43,505
2,505
-
46,010		 Total
£
127,584
8,296
(67,780)
(94,877)
(26,777)
Total
£
144,762
6,302
(141,906)
(80,898)
(71,740)

22

The BGI

Notes to the Financial Statements for the Year Ended 30 April 2024

16 Reconciliation of net income to cash flow from operating activities
Net income / (expenditure) for the period
Interest receivable
Depreciation
Decrease / (increase) in stock
(Increase) /decrease in debtors
(Decrease) / increase in creditors
Net cash inflow / (outflow) from operating activities		 2024
£
44,963
(966)
18,311
1,888
(7,910)
(54,125)
2,161		 2023
£
(140,633)
(338)
23,476
2,425
49,780
42,628
(22,662)

17 Pensions

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £5,009 (2023: £5,242).

18 Operating Lease Obligation

Total future minimum lease payments under non-cancellable operating leases are as follows:

Lease payments due no later than one year and no later than five years
19 Related Party Transactions
There were no related party transactions during the current year.		 2024
£
-		 2023
£
-

During the prior year one of the trustees provided interest free loans to the charity totalling £52,000.

20 Non adjusting event after the financial period

Subsequent to the balance sheet date the charity has received a loan waiver from a loan creditor to the value of £32,000.

23