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2023-02-28-accounts

Charity registration number 1185086

Company registration number CE018667 (England and Wales)

THE WEARDALE MUSEUM

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

THE WEARDALE MUSEUM

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Phillippa Rowe
Ms Zelda Heney
Mr William Wilson
Rev Heather Ross
Mr John Jackson
Mr Owain Gardner
Mrs Margaret Manchester
Ms Deborah Nicol
Rev Eoin Buchanon
Mrs Anita Atkinson
Mrs Kathleen Gill
Mr John Norman
Mrs Jean Heatherington
Mr Allan Percival
Mr Kenneth Heatherington
Ms Eleanor Williams
Mrs. Eileen Steinbock
Mrs Eileen Steinbock
Chair Mrs Phillippa Rowe
Charity number 1185086
Company number CE018667
Principal address The Weardale Museum
The Hotts
Ireshopeburn
Weardale
County Durham
DL13 1HD
Independent examiner Allen Sykes Limited
Unit B4
Castle Gardens
Stanhope
Co Durham
DL13 2FJ

THE WEARDALE MUSEUM

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Statement of financial position 7
Notes to the financial statements 8 - 17

THE WEARDALE MUSEUM

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2023

The trustees present their annual report and financial statements for the year ended 28 February 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's CIO-Association, the Companies Act 2006 and "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)" (effective 1 January 2019).

Objectives and activities

The advancement of public education by the provision of a museum comprising any items or exhibits which may from time to time be purchased on behalf of or donated to the museum which may be deemed worthy of public display (which items or exhibits are hereinafter called “the collection”.

Aims and purposes

We are a small independent folk museum run by volunteers for the past 35 years and located at the High House Methodist Chapel. We provide a sense of place for those who live in and visit Weardale by telling the stories of its history and heritage. We provide a family history service using our 70,000 database of Weardale families and we hold extensive collections of Weardale photographs and artefacts.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Trustees and their seven focussed Task Teams continued to operate throughout the privations of Covid-19, all meetings being held online, thus permitting continued planning across all aspects of our routine work and the development plan.

As 2021 progressed the restrictions associated with Covid-19 were gradually lifted and in late May we took advantage of a last-minute opportunity to stage an On Tour Exhibition in Stanhope, attracting more than 200 visitors and gaining new volunteers, a Trustee and valued sales and donations. Having not been permitted to open throughout 2020, our re-opening in July, with a pre-booked visitor system in operation was a much- welcomed event, not least by being able to exhibit several artefacts from the prestigious St Botolph’s Chapel Collection, the owner of the Finds having identified the Weardale Museum as being the future home for the collection. Covid-19 remained ever-present and several of our long-serving Stewards were not able to continue in this visitor-facing role. We thank them for their valued service whilst also welcoming several new Stewards which ensured the full Museum service could be offered and extended to permit us taking an Exhibition unit at the Weardale Agricultural Show.

Our “Weardale People” family history service continued throughout Covid-19 and publication of two books provided a valued income stream through sales. Our “Methodist Tapestries Collection” project was also able to continue during the prolonged closure and this flagship project is on course to achieve an 80 – 100 panel collection in time for opening of our proposed new centre. In January ’21 five upper Weardale schools embarked on a five month project, creating their tapestries for inclusion in the Collection.

Among development issues addressed during closure was the development of outreach via social media and other digital measures, not least the holding of an e-survey in Spring ’21 which achieved almost 500 responses and provided a wealth of feedback which continues to inform our developments. Assisted by The Audience Agency who managed the technical delivery and collation of data, this survey was heralded as an exemplar within the heritage sector. Our Museum Facebook audience has grown dramatically, from upper hundreds of followers and interactions to, oft-times 11,000, with lower but proportionate increases with out Methodist Tapestries page. Our Twitter presence was similarly expanded and continues to grow. We thank our dedicated colleagues who have achieved this expansion. Arising from these actions our Contacts Database has increased from the 200’s to over 700.

Arising from “Heritage Emergency Fund” works in late 2020, a more intensive structural survey of the chapel property became possible, the result being the identification of need for “urgent” and, more worrying, “Priority 1” restoration work to be undertaken. The “Priority 1” works were carried out in Spring ’21 and we thank everyone who so generously contributed to making this work possible, thus ensuring the property was stabilised.

THE WEARDALE MUSEUM

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

Arising from detailed research through interviews and sourcing many forms of documentary evidence, including professional reports, it is clear that whilst many thousands of pounds were raised by the High House Fellowship over a period of fifty years and spent of dampness related property repairs, the actual cause of the damage could never be addressed. The findings of this Drainage Report are now being subjected to detailed examination and consideration and the Trustees convey appreciation to our “Patrons Team” and others who have enabled such stage to be reached.

As external funding opportunities gradually return to more routine, non-Covid-19 related, programmes so there is opportunity for progress to be made in restoring and repurposing the property, albeit some 18 months behind original schedule.

Trustees & Development Teams

We benefit greatly from the skills and enthusiasm of the Trustees, members of our Task Teams and many Members and Friends of the Museum. The added pressures of both Covid-19 and the development project have demanded hours of additional time.

We are similarly grateful to our professional Design Team who, despite the added challenges of Covid-19 and intermittent funding availability, have proven supportive throughout.

Financial review

Cash holdings were severely depleted upon discovery of another ‘critical at risk’ fault in the Chapel structure, necessitating repairs in the Autumn requiring Trustee decisions:

If the charity succeeds with one of the largest (six figure) grant applications, then it will be in a position to begin fullscale restoration.

During the year total unrestricted receipts were £38,345 (2022: £53,690). For the year ended 28 February 2023 we had an unrestricted surplus of £3,451 (2022: deficit of £7,269) leaving unrestricted reserves at the year-end of £96,588 (2022: £59,816).

It is the policy of the charity to maintain a balance on unrestricted funds which equates to at least six months unrestricted payments, equivalent to £10,000, to cover emergency situations that arise from time to time. Reserves held in excess of this requirement will be used for museum projects.

Structure, governance and management

The Weardale Museum is governed by a CIO-Association dated 29th August 2019. Charitable status was granted on 29th August 2019 to continue the objectives of the previous charity.

The trustees are responsible for making decisions on all matters of general concern and importance to the charity including deciding on how the funds of The Weardale Museum are to be spent.

THE WEARDALE MUSEUM

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs Phillippa Rowe Ms Zelda Heney Mr William Wilson Rev Heather Ross Mr John Jackson Mr Owain Gardner Mrs Margaret Manchester Ms Deborah Nicol Rev Eoin Buchanon Mrs Anita Atkinson Mrs Kathleen Gill Mr John Norman Mrs Jean Heatherington Mr Allan Percival Mr Kenneth Heatherington Ms Eleanor Williams Mrs. Eileen Steinbock Mrs Eileen Steinbock

The Museum’s Friends elect from their membership Trustees who are prepared to give up a little of their time to help manage the Museum and make decisions on behalf of the members. Trustees play a valuable role and we thank them for making the commitment.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

Mrs Phillippa Rowe Chairman

29 December 2023

THE WEARDALE MUSEUM

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WEARDALE MUSEUM

I report to the trustees on my examination of the financial statements of The Weardale Museum (the charity) for the year ended 28 February 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Allen Sykes Limited

Unit B4 Castle Gardens Stanhope Co Durham DL13 2FJ

Dated: 29 December 2023

THE WEARDALE MUSEUM

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2023

Current financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
32,308
-
-
Charitable activities
Museum transformation
4
-
-
98,678
Tapestry construction
4
-
-
8,500
Organ restoration
4
-
-
15,110
Collection curation
4
-
-
27,000
Community outreach
4
-
-
5,438
Activities for generating funds
5
6,037
-
-
Total income
38,345
-
154,726
Expenditure on:
Raising funds
6
1,793
-
-
Charitable activities
Museum restoration
7
19,480
-
32,244
Tapestry construction
7
414
-
7,113
Organ restoration
7
1,339
-
10,181
Collection curation
7
8,593
-
8,600
Community outreach
7
3,275
-
-
Total charitable expenditure
33,101
-
58,138
Total expenditure
34,894
-
58,138
Net incoming/(outgoing) resources before
transfers
3,451
-
96,588
Gross transfers between funds
(1,897)
-
1,897
Net income/(expenditure) for the year/
Net movement in funds
1,554
-
98,485
Fund balances at 1 March 2022
59,807
9
37,892
Fund balances at 28 February 2023
61,361
9
136,377		 Total
2023
£
32,308
98,678
8,500
15,110
27,000
5,438
6,037
193,071
1,793
51,724
7,527
11,520
17,193
3,275
91,239
93,032
100,039
-
100,039
97,708
197,747		 Total
2022
£
47,695
2,000
6,436
-
1,674
9,050
5,995
72,850
686
58,364
12,298
2,441
11,127
3,673
87,903
88,589
(15,739)
-
(15,739)
113,447
97,708

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE WEARDALE MUSEUM

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2023

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 8 to 17 form part of these financial statements.

Prior financial year

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
3
33,053
14,642
-
Charitable activities
Museum transformation
4
-
-
2,000
Tapestry construction
4
-
-
6,436
Collection curation
4
-
-
1,674
Community outreach
4
-
-
9,050
Activities for generating funds
5
5,995
-
-
Total income
39,048
14,642
19,160
Expenditure on:
Raising funds
6
686
-
-
Charitable activities
Museum restoration
7
26,299
12,957
19,108
Tapestry construction
7
6,932
1,619
3,747
Organ restoration
7
2,188
19
234
Collection curation
7
9,178
19
1,930
Community outreach
7
1,034
19
2,620
Total charitable expenditure
45,631
14,633
27,639
Total expenditure
46,317
14,633
27,639
Net incoming/(outgoing) resources before transfers
(7,269)
9
(8,479)
Gross transfers between funds
(8,131)
-
8,131
Net income/(expenditure) for the year/
Net movement in funds
(15,400)
9
(348)
Fund balances at 1 March 2021
75,207
-
38,240
Fund balances at 28 February 2022
59,807
9
37,892		 Total
2022
£
47,695
2,000
6,436
1,674
9,050
5,995
72,850
686
58,364
12,298
2,441
11,127
3,673
87,903
88,589
(15,739)
-
(15,739)
113,447
97,708

THE WEARDALE MUSEUM

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds - designated
Unrestricted funds - general		 2023
£
1,000
28,851
29,851
(780)		 £
168,676
29,071
197,747
136,377
9
61,361
197,747		 2022
£
1,000
63,960
64,960
(5,735)		 £
38,483
59,225
97,708
37,892
9
59,807
97,708

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 29 December 2023

Mrs Phillippa Rowe Chairman

Company registration number CE018667

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies

Charity information

The Weardale Museum is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future, however, the trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern. During the rebuilding phase of the museum there were material additional works required to stabilise the building which was at risk of collapse. This caused an overspend of the original funding and to date the management committee have been unable to source the funding required to complete the project.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Not depreciated Tapestries Not depreciated

Freehold properties and tapestries are not depreciated as their residual values are not considered to be less than cost.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Unrestricted
Unrestricted
funds
funds
funds
general
general
designated
2023
2022
2022
£
£
£
Donations and gifts
1,067
9,528
14,642
Grants
31,241
23,525
-
32,308
33,053
14,642
Donations and gifts
Donations
1,068
6,791
14,642
Gift Aid
-
2,737
-
Other
(1)
-
-
1,067
9,528
14,642		 Total
2022
£
24,170
23,525
47,695
21,433
2,737
-
24,170

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

(Continued)

3
Donations and legacies
Grants receivable for core activities
Covid Business Grants
Other		 -
31,241
31,241		 23,525
-
23,525		 (Co
-
-
-		 ntinued)
23,525
-
23,525
Museum
transformation
Tapestry
construction
Organ
restoration
Collection
curation
Community
outreach
2023
2023
2023
2023
2023
£
£
£
£
£
Grants
98,678
8,500
15,110
27,000
5,438
Grants
MDNE
-
5,000
-
-
-
Foyle
Foundation
-
-
-
25,000
-
Hedleyhope
-
-
-
2,000
-
Culture
Bridge
-
1,500
-
-
-
Believe
Housing
-
1,000
-
-
-
Digital
Improvement
-
-
14,110
-
-
Organ Appeal
-
-
1,000
-
-
Levelling Up
Fund
56,760
-
-
-
-
Garfield
40,000
-
-
-
-
Other
1,918
1,000
-
-
5,438
98,678
8,500
15,110
27,000
5,438		 Total
2023
£
154,726
5,000
25,000
2,000
1,500
1,000
14,110
1,000
56,760
40,000
8,356
154,726		 Total
2022
£
19,160

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

5 Activities for generating funds

Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
Admissions 2,218 1,130
Family history donations 944 349
Sales 1,064 3,393
Sundry income 1,811 1,123
Activities for generating funds 6,037 5,995

6 Raising funds

Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
Fundraising and publicity
Governance costs 1,015 63
Museum costs 778 267
Support costs - 356
Fundraising and publicity 1,793 686
1,793 686

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

7 Charitable activities

Museum
restoration
Tapestry
construction
Organ
restoration
Collection
curation
Community
outreach
2023
2023
2023
2023
2023
£
£
£
£
£
Community
Engagement
-
-
-
-
864
Technical
Consultancy
9,784
-
-
1,565
-
Project
Management
10,319
5,388
-
-
-
Acquisitions
13,560
-
-
1,285
-
Restoration &
Display
1,396
800
10,181
3,600
-
35,059
6,188
10,181
6,450
864
Share of
support costs
(see note 8)
15,650
324
324
9,728
1,396
Share of
governance
costs (see
note 8)
1,015
1,015
1,015
1,015
1,015
51,724
7,527
11,520
17,193
3,275
Analysis
by fund
Unrestricted
funds -
general
19,480
414
1,339
8,593
3,275
Unrestricted
funds -
designated
-
-
-
-
-
Restricted
funds
32,244
7,113
10,181
8,600
-
51,724
7,527
11,520
17,193
3,275		 Total
2023
£
864
11,349
15,707
14,845
15,977
58,742
27,422
5,075
91,239
33,101
-
58,138
91,239		 Total
2022
£
3,200
18,014
12,912
9,401
23,891
67,418
19,233
1,252
87,903
45,631
14,633
27,639
87,903

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

8 Support costs

Support
costs
Governance
costs
£
£
Utilities
4,020
-
Property, equipment &
furnishing
845
-
Telephone & internet
321
-
Retail materials
308
-
Printing, postage &
stationery
744
-
Licences & subscriptions
1,227
-
Insurance
14,074
-
Sundry expenses
5,883
-
Independent examination
fees
-
1,020
Legal and professional
-
5,070
27,422
6,090
Analysed between
Fundraising
-
1,015
Charitable activities
27,422
5,075
27,422
6,090		 2023Support costs Governance
costs
£
£
£
4,020
4,141
-
845
1,031
-
321
473
-
308
635
-
744
182
36
1,227
653
109
14,074
11,963
132
5,883
511
78
1,020
-
960
5,070
-
-
33,512
19,589
1,315
1,015
356
63
32,497
19,233
1,252
33,512
19,589
1,315		 2022
£
4,141
1,031
473
635
218
762
12,095
589
960
-
20,904
419
20,485
20,904

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

11
Tangible fixed assets
Freehold land
and buildings
Tapestries
£
£
Cost
At 1 March 2022
35,203
3,250
Additions
130,223
-
At 28 February 2023
165,426
3,250
Carrying amount
At 28 February 2023
165,426
3,250
At 28 February 2022
35,203
3,280
12
Stocks
2023
£
Museum inventory for resale
1,000
13
Creditors: amounts falling due within one year
2023
£
Accruals
780		 Total
£
38,453
130,223
168,676
168,676
38,483
2022
£
1,000
2022
£
5,735

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 March 2022
r
£
Culture Bridge
-
Believe Housing
-
Organ Appeal
2,971
Chapel Crowdfunding
-
Hedleyhope
-
The Willan Trust
2,000
Garfield
-
The People’s Postcode
15,785
The Priestman Trust
8,000
WAAP
-
O N Organ Trust
1,200
The Barbour Foundation
1,500
Durham Digital
-
MDNE
-
Foyle Foundation
-
The Rank Foundation
550
The Hadrian Trust
1,000
CDCF Arts and Culture
4,886
Gibbs
-
Levelling Up Grant
-
37,892		 Movement in funds
Incoming
esources
Resources
expended
£
£
1,500
(920)
1,000
(780)
1,000
(5,214)
1,918
(1,237)
2,000
(487)
-
-
40,000
-
-
-
-
(8,567)
438
(525)
-
-
-
-
14,110
(14,110)
5,000
(2,886)
25,000
(5,000)
-
-
-
-
5,000
(2,275)
1,000
-
56,760
(16,137)
154,726
(58,138)		 Transfers
Balance at
28 February
2023
£
£
-
580
-
220
1,243
-
-
681
-
1,513
-
2,000
-
40,000
-
15,785
567
-
87
-
-
1,200
-
1,500
-
-
-
2,114
-
20,000
-
550
-
1,000
-
7,611
-
1,000
-
40,623
1,897
136,377		 Transfers
Balance at
28 February
2023
£
£
-
580
-
220
1,243
-
-
681
-
1,513
-
2,000
-
40,000
-
15,785
567
-
87
-
-
1,200
-
1,500
-
-
-
2,114
-
20,000
-
550
-
1,000
-
7,611
-
1,000
-
40,623
1,897
136,377
136,377

Restricted funds can be considered in blocks corresponding to the principal activities of the Museum.

Outreach

THE WEARDALE MUSEUM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023

14 Restricted funds

(Continued)

Collection Curation

The organ too will be restored:

Tapestry Construction

15 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
2023
2023
2023
£
£
£
Fund balances are represented by:
Tangible assets
38,483
-
130,193
Current assets/(liabilities)
24,775
9
4,287
63,258
9
134,480
Unrestricted
funds
Designated
funds
Restricted
funds
2022
2022
2022
£
£
£
Fund balances are represented by:
Tangible assets
38,483
-
-
Current assets/(liabilities)
21,324
9
37,892
59,807
9
37,892		 Total
Designated
funds
2023
2022
£
£
168,676
-
29,071
9
197,747
9
Total
Designated
funds
2022
2022
£
£
38,483
59,225
97,708

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).