## THE BRIAN MAY ARCHIVE OF STEREOSCOPY 

**Trustees’ Report** 

## **and Financial Statements** 

for the year ended 31 December 2022 

**Registered Charity Number 1184354** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **INDEX** 

||**Page**|
|---|---|
|**Charity information**|**1**|
|**Trustees’ report**|**2**|
|**Independent auditor’s report**|**5**|
|**Statement of financial activities**|**8**|
|**Balance sheet**|**9**|
|**Statement of Cash Flows**|**10**|
|**Accounting policies**|**11**|
|**Notes to the financial statements**|**13**|





**THE BRIAN MAY ARCHIVE OF STEREOSCOPY** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **CHARITY INFORMATION** 

## **Trustees** 

Emily Alford Dr Brian May CBE Louisa Winter Dr Michael Pritchard BSc(Hons) FRPS DGPH Professor Roger Taylor MA(Hons) DFA OBE (resigned 13 September 2022) 

## **Principal office** 

Allerton Hill Westwood Road Windlesham GU20 6LS 

## **Registered charity number** 

1184354 

## **Independent auditor** 

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY 

## **Bankers** 

Coutts & Co 440 Strand London WC2R 0QS 

**Page 1** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **TRUSTEES’ REPORT** 

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. 

## **STRUCTURE GOVERNANCE AND MANAGEMENT** 

The Brian May Archive of Stereoscopy (BMAS) is a registered charity established as a charitable incorporated organisation and registered 10 July 2019 as amended 21 March 2022. 

The power to appoint and remove trustees is vested in the trustees by resolution at meetings of the trustees. 

On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the Trust, the day-to-day management, responsibilities of the trustees, the current objectives and future plans. 

The trustees are responsible for authorising grant payments, for ensuring all grants are made in pursuance of the objectives of the charity and for ensuring the objectives of the Trust are met 

The trustees are responsible for identifying and reviewing the major risks to which the charity is exposed and confirm that, as far as is possible given the nature of the grant payments and locations to which they are made, arrangements have been established to mitigate those risks. 

## _Key management personnel remuneration_ 

The trustees consider the board of trustees comprise the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. The trustees give of their time freely and no trustee remuneration or expenses were paid in the year. 

## **OBJECTIVES AND ACTIVITIES** 

The objects of the charity are: 

1. To preserve and conserve for the Nation a unique collection of stereoscopic images and devices and other related materials (the "Archive"), representing a significant part of Britain's heritage of stereoscopic (3-D) photography, created from the 1850s onwards. 

2. To advance the education of the public in the subject of stereoscopic photography in England and elsewhere by providing physical access to the Archive for those carrying out academic research, the development and publication of a free to access online catalogue of the stereoscopic images and other related materials held in the Archive, and through the loan of items from the Archive to public museums and galleries. 

In pursuance of its objects, the charity's income is applied as deemed appropriate in accordance with and in furtherance of the charity's objectives. The Trust has established its grant making policy to achieve these stated objectives for the public benefit. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objectives in planning its future activities and agreeing its grant making for the year. 

## **ACHIEVEMENTS AND PERFORMANCE** 

During the year under review the undertook to collate and conserve stereoscope equipment and stereoscopic images in addition to providing education on and promotion of the field. A summary of the activities undertaken is provided below. 

Preservation and Conservation: 

- Collection of the remaining photographs and all stereoscopes of the ‘Gwyn Nicholls Collection’, acquired for a total cost of £750,000 and Jones Collection for a total cost of £60,000. 

- Purchase of the ‘Remington Rose Collection’. Mainly portrait stereocards. 

- 3,570 stereocards digitised. 

- One curator self-funded distance-learning MLitt in Archives and Records Management in own time. 

**Page 2** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **TRUSTEES’ REPORT** 

Education and Advocacy: 

- Exhibitions: 

   - Stereoscopic daguerreotype by Lamiche and stereocard by Gaudin loaned to the Musée d’Orsay for the exhibition ‘Enfin le Cinéma’ (28th September 2021 - 16th January 2022 – 420,000 international visitors). 

   - Preparation, delivery, installation, loan and collection of a digital stereoscope to Clifton Suspension Bridge Visitor Centre for the exhibition ‘Photographing the Bridge: A Stereoscopic Journey’ using digitised images from BMAS and CB (February 2022-September 2022, 50,000 – international visitors). 

   - Preparation, delivery, installation and loan of a digital stereoscope to Charles Dicken Museum using digitised images from BMAS (September 2022 – March 2023 – 32,800 international visitors). 

   - Collection of a double digital stereoscopic cabinet from Salisbury Museum which used digitised images from BMAS (October 2021 – October 2022, - 20,000 international visitors). 

   - Preparation, delivery, installation, and loan of 2 digital stereoscopes, 2 3-D TVs, 270 printed stereoviews, some from BMAS’ collections, stereoscopes from Gwyn Nicholls’ collection and handling collection cards in a specially-made cabinet to Proud Galleries for ‘Stereoscopy is Good for You’ exhibition (November 2022 – May 2023 - Visitor numbers not provided). 

- 14 Stereoscopic 3-D projection presentations given by BMAS, using an average of 140 digitised photographs from the collections each time: 

   - 8 in-person 

      - 2 to students, academics, and the public at universities (UK) 

      - 2 to the public at a museums (UK) 

      - 3 to the public at public venues (1 in France, 2 in America) 

      - 1 to American photography students at a hotel (UK) 

   - 6 online 

      - 5 to the public 

      - 1 to DreamWorks’ staff 

- 3 workshops using the handling collections: 

   - 1 to students, academics and the public at a University. 

   - 1 to photography students at a public venue. 

   - 1 to a museum’s staff. 

- Organised the 1[st] ‘International Stereoscopy Day’ which included online talks, a dedicated website, people getting involved on social media and in-person events worldwide. 

- Worked with an academic at the Courtauld Institute of Art whose research includes stereoscopic images, and advised how to view, digitise and share the images. Provided printed reproductions. 

- 10 Zoom meetings and preparation of stereoscopic images for the LSC’s _Stereoscopy is Good For You_ book. 

- 6 meetings with Watts Gallery Compton’s staff and curatorial team to discuss and plan an exhibition next year using BMAS’s collections. 

- 4 meetings with CLEM Patrimoine, Bordeaux, France about an international Stereoscopy festival there next year. 

- Provided advice to the National Science and Media Museum about displaying stereoscopic images in their new galleries in Bradford. 

- Publications using BMAS images: 

   - ‘Joan of Arc in the Stereoscope’ Denis Pellerin: https://stereoscopy.blog/2022/12/31/joan-of-arcin-the-stereoscope/ 

   - _Newbury Through the Stereoscope_ booklet by Ian Wallace, self-published. BMAS provided two scans of images of Newbury from the collection. Copy of booklet received for the archive. 

   - _Two Views on Plants_ by Sebastian Cramer. Published by Hatje Cantz, Berlin. Introduction on the history of stereoscopy written by Denis Pellerin, and BMAS provided six scans of images of plants from the collection. 

**Page 3** 



THE BRIAN MAY ARCHIVE OF STEREOSCOPY
FINANCNL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
TRUSTEES, REPORT
FINANCIAL REMEW
DurirvJ thè year, of £1,035,CQO12021: £159,433) rec￿￿ ￿ aptyied f(Y ihe management of t
tharity and to ac4uire stereoscopie images and Èquipment. There a wrplus for th• year of £856,609 (2021
$urplu5." £2,609) wth £842.317 Spent to purchas8 stereosco￿.¢ material.
During the year the d)*rty acquirÉd stereoscw"c images arKI eq(4w)wrt totJling £842,317 wthic* hav¢ been
capitalised as heritage assèts and w￿1 ￿es￿d and [nalrt￿n&j by the tharity.
The d)artty's reseNes. bwrKJ Lmrestricted fiJThts Th)1 represented by fiX￿j assets. at the batar￿ thet datè were
¢Yeficit of £1.92712021 dgfiul." £16,578). The Trustees we sat1'sf￿. vthilstthe reserves are tsjrrerfy in deficTt,
donatths are expected in tum erwre lurKls 8de(wte to fijffil its oL4vJalion5 from time to time.
PLANS FOR FWURE PERIODS
The tru&ees ￿11 rx¥rtinu8 to i(*ntify material vAw* it can preswve 7fv&hwe necessary acquire and
e*rve.
STATEMEKf OF TRUSTEES. RESPONSIBILMES
The trustees are rosponsib￿ for preparing the Truth. Rwrt and the firtaTh)al statemènts in a¢X￿danCé wth
icabl• and United Kingycrfn AC￿r[hn9 StaThJ*ds (United kn"r¥J(k)m Getwally A￿pted Actounténg Prath"cel.
Th& law applica* lo c*arth¢s in & Wales r￿.￿￿5 ts trLthes trj rry*e finaThi•l statem8nts frx e
fit)ancial year whith gNe a true and fair wew of of affairs of the c*)arty and of the incoming resources and
applic*"on of resources of the chantyf￿that ￿c¥j. In wepanro t1￿ firsancad statements, the trustees are ￿UIred
select SUita￿e aLXXMJnting Oiaes and then appty them cfjngstentty.
observe the methts￿ and prinoples in the Chath"es SORP,.
make judgements and 8Stimates that are rea￿￿￿e and tnthnt."
state whetherapplicablè *¢wnting standards have been follow￿j, sutriect to any material de￿tU￿$ disdos
and explained in the financial statemerts".
prepare the finanual statements on the gory (y)twxm basis unles$ rt is inappwate lo txesume tharity
11 eonlinue in oporatton.
The trustees are restK)nsible f￿ keeDina Lworer acc(AJntir4J rece￿ that di*rJngp. wilh ￿￿￿nn?￿l$ gt any
trme the financial posrtion rjf the charity ar￿ enable them to ensure that the finanoal Statements (x>mply wth the
Cha￿tieS Act 2011, the Charty IAccounts aThJ Rep￿s) Regulth"ons 2008 aThJ the prowsKJns of the trust deed. They
are also responsit4eforsafeguarding assetscrfthe tharity and henL*fort*ng reasonatrAe stepsforthe prevention
and detection of fraud and Lther irregularit￿.
APPOINTMEKf OF AN INDEPENDENT AUDITOR
The charity ox¢eeded the threshc4d ts auOrt in re¥*rt of the year uThJer w6w and apwnted Blue s￿re Limited 88
audi(or of the charity.
Approved by the trustees a)d sgned on their L￿.
Trustee
Dale
Pw4

**THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **INDEPENDENT AUDITOR’S REPORT** 

## **Independent Auditor's Report to the Trustees of The Brian May Archive of Stereoscopy** 

## **Opinion** 

We have audited the financial statements of The Brian May Archive of Stereoscopy (the ‘charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity’s affairs as at 31 December 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the trustees' annual report[2] , other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

**Page 5** 



**THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **INDEPENDENT AUDITOR’S REPORT** 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the statement trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

Based on our understanding of the Charity and the sector in which it operates, we identified that the principal laws and regulations that directly affect the financial statements to be the Charities Act 2011. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. 

As a donation funded charity with objects to conserve material and equipment there is a limitation to areas which could have a material effect on amounts or disclosures in the financial statements. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any. 

Audit procedures performed by the engagement team included: 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

**Page 6** 



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## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

|**Note**<br>**INCOME AND ENDOWMENTS FROM:**<br>Donations and legacies<br>**1**<br>**Total**<br>**EXPENDITURE ON:**<br>Charitable activities<br>**2**<br>**Total**<br>**Net income/expenditure)**<br>**Transfers between funds**<br>**10**<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**9, 10**<br>**Total funds carried forward**<br>**9, 10**|**Unrestricted**<br>**Funds**<br>**£**<br>1,035,000<br>1,035,000<br>178,391<br>178,391<br>856,609<br>-<br>856,609<br>182,997<br>1,039,606|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**2022**<br>**Total**<br>**Funds**<br>**£**<br>1,035,000<br>1,035,000<br>178,391<br>178,391<br>856,609<br>-<br>856,609<br>182,997<br>1,039,606|**2021**<br>**Total**<br>**Funds**<br>**£**<br>159,433|
|---|---|---|---|---|
|||||159,433|
|||||156,824|
|||||156,824|
|||||2,609<br>-|
|||||2,609<br>180,388|
|||||182,997|



None of the charity’s activities were acquired or discontinued during the above two financial years. The charity has no recognised gains or losses other than those dealt with in the statement of financial activities. 

**Page 8** 



THE BRIAN MAY ARCHIVE OF STEREOSCOPY
FINANc￿L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
BALANCE SHEET AS AT 31 DECEMBER 2022
FIXEDA￿s
Tangiblofwj egsets
570
929
198.646
1.040,
1.041.533
189,575
¢IJftRENT A&gErs
e8sh ai hatvj and in
Totaj curY8rta#ets
S.178
5,178
3.499
CURRENT UABIUTIES
c￿￿1￿)rS amOl￿1*f￿lIr￿j y
21.756
M•t tunpntasuW{WIllNi0s)
11.927)
116,5781
1.D39,6
182.997
THE FUMDS OF THECTriARITY
Rethded fvTrYs
9.10
9,10
1.039.6
182,997
TO1￿ charty ￿n￿$
1,O39.8C6
182.997
Tru*ee
.lTh.L3
Page 9

## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **STATEMENT OF CASH FLOWS** 

|**Note**<br>**Net cash flow from operating activities (see below)**<br>**Cash flow from investing activities**<br>Purchase of tangible fixed assets<br>Purchase of heritage fixed assets<br>Interest received<br>**Net cash flow from investing activities**<br>**Net increase/(decrease) in cash and cash equivalents**<br>**Cash and cash equivalents at 1 January 2022**<br>**Cash and cash equivalents at 31 December 2022**<br>**Cash and cash equivalents consist of:**<br>Cash at bank and in hand<br>**Cash and cash equivalents at 31 December 2022**<br>**Reconciliation of net income to net cash flow from operating activities**<br>Net income for the year<br>Adjusted for:<br>Depreciation charges<br>Increase/(decrease) in creditors|**£**<br>**£**<br>840,638<br>-<br>(842,317)<br>-<br>(842,317)<br>(1,679)<br>5,178<br>3,499<br>3,499<br>3,499<br>**£**<br>**£**<br>856,609<br>359<br>(16,330)<br>(15,971)<br>840,638<br>**2022**<br>**2022**|**£**<br>**£**<br>24,725<br>-<br>(25,558)<br>-<br>(25,558)<br>(833)<br>6,011<br>5,178<br>5,178<br>5,178<br>**£**<br>**£**<br>2,609<br>360<br>21,756<br>22,116<br>24,725<br>**2021**<br>**2021**|**£**<br>**£**<br>24,725<br>-<br>(25,558)<br>-<br>(25,558)<br>(833)<br>6,011<br>5,178<br>5,178<br>5,178<br>**£**<br>**£**<br>2,609<br>360<br>21,756<br>22,116<br>24,725<br>**2021**<br>**2021**|
|---|---|---|---|
||||24,725|



**Page 10** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **ACCOUNTING POLICIES** 

## **General information, scope and basis of the financial statements** 

The Brian May Archive of Stereoscopy is an charitable incorporated organisation. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report. 

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. 

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.  The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. 

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

## **Incoming resources** 

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. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. 

## **Resources expended** 

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 expenditure headings: 

● Charitable activities; these include costs of administering the charity and governance costs. 

Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements. 

## **Employee benefits** 

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. 

Contributions are made to the employee's personal pension arrangements. The pension costs charged to the statement of financial activities are the contributions payable to the scheme in respect of the accounting period. 

## **VAT** 

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA. 

## **Taxation** 

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities. 

## **Tangible fixed Assets** 

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. 

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: 

Office equipment 20% straight line 

**Page 11** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **ACCOUNTING POLICIES** 

## **Heritage fixed assets** 

Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices, where available, or insurance valuation. 

No depreciation is provided on heritage fixed assets as they have indefinite lives and any depreciation would be immaterial. Assets are reviewed for impairment annually. 

Acquisitions only arise when donated to the Charity or if it is believed that they will further the Charity’s objectives. Once acquired they will be preserved by the Charity in order to keep their historical, artistic, scientific, technological, geophysical or environmental qualities to such a high level as to contribute to knowledge and culture. A register of all assets held by the Charity is available and the assets themselves are accessible to the public with prior agreement. Heritage assets are to be held for the foreseeable future. 

## **Debtors receivable and creditors payable within one year** 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 

## **Cash and cash equivalents** 

Cash and cash equivalents includes cash at bank and in hand. 

## **Foreign currency** 

Monetary assets and liabilities denominated in foreign currencies are translated into Pounds Sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Pounds Sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities. 

## **Fund accounting** 

Unrestricted general funds are incoming resources receivable or generated for use in furtherance of the general objects of the charity without restriction. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 10 of these financial statements. 

## **Going concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 

**Page 12** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **1.  Donations and legacies** 

|**1.  Donations and legacies**|||||||
|---|---|---|---|---|---|---|
|Donations<br>**2. Charitable activities**|**Income**<br>**Funds**<br>**£**<br>1,035,000<br>1,035,000|**Restricted**<br>**Funds**<br>**£**<br>-<br>-|**2022**<br>**Total**<br>**Funds**<br>**£**<br>1,035,000<br>1,035,000|**Income**<br>**Funds**<br>**£**<br>125,000<br>125,000|**Restricted**<br>**Funds**<br>**£**<br>34,433<br>34,433|**2021**<br>**Total**<br>**Funds**<br>**£**<br>159,433|
|||||||159,433|
||||||||



|**Unrestricted**<br>**Funds**<br>**£**<br>Wages and salaries<br>145,653<br>Repairs and maintenance<br>1,109<br>Insurance<br>1,358<br>Accountancy fees<br>14,224<br>Legal and professional fees<br>12,136<br>Office and other costs<br>672<br>Depreciation<br>359<br>Governance costs:<br>Independent auditor's fees<br>2,880<br>Independent examiner's fees<br>-<br>178,391<br>**3. Independent auditor's and examiner's fees**<br>**Unrestricted**<br>**Funds**<br>**£**<br>Auditor's fees - audit<br>2,880<br>Examiner's fees - examination<br>-|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>-|**2022**<br>**Total**<br>**Funds**<br>**£**<br>145,653<br>1,109<br>1,358<br>14,224<br>12,136<br>672<br>359<br>2,880<br>-<br>178,391<br>**2022**<br>**Total**<br>**Funds**<br>**£**<br>2,880<br>-|**Unrestricted**<br>**Funds**<br>**£**<br>103,242<br>5,274<br>-<br>10,100<br>-<br>1,975<br>360<br>-<br>1,440<br>122,391<br>**Unrestricted**<br>**Funds**<br>**£**<br>-<br>1,440|**Restricted**<br>**Funds**<br>**£**<br>34,433<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>34,433<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>-|**2021**<br>**Total**<br>**Funds**<br>**£**<br>137,675<br>5,274<br>-<br>10,100<br>-<br>1,975<br>360<br>-<br>1,440|
|---|---|---|---|---|---|
||||||156,824|
||||||**2021**<br>**Total**<br>**Funds**<br>**£**<br>-<br>1,440|



**Page 13** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **4. Wages and salary cost** 

|**4. Wages and salary cost**|||
|---|---|---|
|Gross wages<br>Employer's national insurance costs<br>Pension costs<br>Staff numbers:<br>Average head count|**2022**<br>**Total**<br>**Funds**<br>**£**<br>129,471<br>12,298<br>3,884<br>145,653<br>**£**<br>**2022**<br>2|**2021**<br>**Total**<br>**Funds**<br>**£**<br>123,391<br>10,584<br>3,700|
|||137,675|
|||**£**<br>**2021**<br>2|



One employees had emoluments (excluding employer pension costs) above £60,000 in the year under review in the band £90,000 to £100,000. 

No remuneration was paid to Trustees during the period or in the previous financial period. 

## _Pension scheme_ 

The Charity contributes to defined contribution personal pension schemes on behalf of its employees. The total amount of contributions charged in the year under review were £3,884 (2021: £3,700). 

## **5.  Related party transactions** 

No Trustees or companies where a Trustee was a director received any remuneration or expenses during the year (2021: £nil). 

B H May, who is a trustee of the charity and director and shareholder of Duck Productions Limited, a company which made donations to the charity amounting to £1,035,000 during the year. 

## **6. Tangible fixed assets** 

|_Cost_<br>At 1 January 2022<br>Additions<br>Disposals<br>At 31 December 2022<br>_Depreciation_<br>Accumulated at 1 January 2022<br>Charge for the year<br>On disposals<br>At 31 December 2022<br>Net book value at 31 December 2022<br>Net book value at 31 December 2021|**Office**<br>**equipment**<br>**£**<br>1,799<br>-<br>-<br>1,799<br>870<br>359<br>-<br>1,229<br>570<br>929|**Total**<br>**£**<br>1,799<br>-<br>-|
|---|---|---|
|||1,799|
|||870<br>359<br>-|
|||1,229|
|||570|
|||929|



**Page 14** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **7. Heritage fixed assets** 

|Historic costs and carrying amount at 1 January 2022<br>Additions<br>Disposals<br>Depreciation/impairment<br>Revaluation<br>Historic cost and carrying amount at 31 December 2022<br>Additions at cost are inclusive of:<br>Jones collection<br>Gwyn Nicholls collection<br>Other additions|**Stereoscopic**<br>**images and**<br>**equipment**<br>**£**<br>198,646<br>842,317<br>-<br>-<br>-<br>1,040,963<br>60,000<br>750,000<br>32,317<br>842,317|**Total**<br>**£**<br>198,646<br>842,317<br>-<br>-<br>-|
|---|---|---|
|||1,040,963|
|||60,000<br>750,000<br>32,317|
|||842,317|



## **8. Creditors: amounts falling due within one year** 

|Accruals<br>Other creditors|**2022**<br>**£**<br>5,426<br>-<br>5,426|**2021**<br>**£**<br>2,631<br>19,125|
|---|---|---|
|||21,756|



## **9.  Analysis of net assets between funds** 

|Fixed assets<br>Current assets<br>Current liabilities|**Unrestricted**<br>**Funds**<br>**£**<br>1,041,533<br>3,499<br>(5,426)<br>1,039,606|**Restricted**<br>**Funds**<br>**£**<br>**-**<br>-<br>-<br>-|**2022**<br>**Total**<br>**Funds**<br>**£**<br>1,041,533<br>3,499<br>(5,426)<br>1,039,606|**Unrestricted**<br>**Funds**<br>**£**<br>199,575<br>5,178<br>(21,756)<br>182,997|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-|**2021**<br>**Total**<br>**Funds**<br>**£**<br>199,575<br>5,178<br>(21,756)|
|---|---|---|---|---|---|---|
|||||||182,997|



**Page 15** 



## **THE BRIAN MAY ARCHIVE OF STEREOSCOPY** 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 

## **NOTES TO THE FINANCIAL STATEMENTS** 

|**10.  Net movement in funds**<br>Restricted funds<br>Unrestricted funds<br>Restricted funds - Wages<br>Unrestricted funds<br>Restricted funds - Wages<br>Funds received<br>**11. Comparative statement of financial activities**<br>**INCOME AND ENDOWMENTS FROM:**<br>Donations and legacies<br>**Total**<br>**EXPENDITURE ON:**<br>Charitable activities<br>**Total**<br>**Net income/expenditure)**<br>**Transfers between funds**<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**Total funds carried forward**|**Total funds**<br>**Total**<br>**Total**<br>**Transfers**<br>**brought**<br>**incoming**<br>**resources**<br>**between**<br>**forward**<br>**resources**<br>**expended**<br>**funds**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>-<br>-<br>-<br>182,997<br>1,035,000<br>(178,391)<br>-<br>182,997<br>1,035,000<br>(178,391)<br>-<br>**Total funds**<br>**Total**<br>**Total**<br>**Transfers**<br>**brought**<br>**incoming**<br>**resources**<br>**between**<br>**forward**<br>**resources**<br>**expended**<br>**funds**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>34,433<br>(34,433)<br>-<br>180,388<br>125,000<br>(122,391)<br>-<br>180,388<br>159,433<br>(156,824)<br>-<br>to cover the charity's salary costs.<br>**Unrestricted**<br>**Restricted**<br>**Funds**<br>**Funds**<br>**Note**<br>**£**<br>**£**<br>**1**<br>125,000<br>34,433<br>125,000<br>34,433<br>**2**<br>122,391<br>34,433<br>122,391<br>34,433<br>2,609<br>-<br>**10**<br>-<br>-<br>2,609<br>-<br>**9, 10**<br>180,388<br>-<br>**9, 10**<br>182,997<br>-<br>**Year ended 31 December 2021**<br>**Year ended 31 December 2022**|**Total funds**<br>**carried**<br>**forward**<br>**£**<br>-<br>1,039,606|
|---|---|---|
|||1,039,606|
|||**Total funds**<br>**carried**<br>**forward**<br>**£**<br>-<br>182,997|
|||182,997|
|||**2021**<br>**Total**<br>**Funds**<br>**£**<br>159,433|
|||159,433|
|||156,824|
|||156,824|
|||2,609<br>-|
|||2,609<br>180,388|
|||182,997|



**Page 16**