## **TOPSHAM MUSEUM** 

Registered Charity 1185943 

25, Strand, Topsham, EX3 OAX h<p://www.topshammuseum.org.uk and on Facebook, Instagram and Twi<er 

## **TRUSTEES** ’ **ANNUAL REPORT for the Year ending 31 December 2020** 

## **1. Mission** 

Topsham Museum Society (now Topsham Museum) was set up in 1986 to advance the educaOon of the public by providing and managing a public museum in Topsham collecOng, recording and displaying objects and informaOon pertaining to the local history, flora and fauna of Topsham and the Exe Estuary. 

## **2. History** 

The Society, a voluntary body, has run the museum for the past 32 years on behalf of Exeter City Council, which owns both the building and land, bequeathed to it by the late Dorothy Holman. The Society occupies the premises under a lease from Exeter City Council, which is responsible for the maintenance of the buildings and also assists by a Rent Support Grant. The terms of this support are based on a three-year rolling agreement with Exeter City Council.   This agreement, and the rent support, comes to an end in 2022. 

Topsham Museum Trading Ltd (the Trading Company) was formed in 2007 to administer the trading acOviOes formerly carried out by the Society. The acOviOes include the Tea Room, Museum Shop, fundraising, group visits, and special events. The only direct financial receipts of the Society are now by way of grants, subscripOons, donaOons, legacies and any associated gi^ aid, plus the donated profits made by the Trading Company, which in 2020 amounted to £7,374.14, net of expenses.  Income and expenditure are of course not in any way comparable to previous years.  Under Topsham Museum Society the company was held by trustees, as an unincorporated body is not able to own assets directly.  Under Topsham Museum however, the company becomes a wholly owned subsidiary of the main charity. 

In 2020 Topsham Museum, a new Charitable Incorporated OrganisaOon, was set up by Topsham Museum Society.  All TMS assets and members were transferred to Topsham Museum during 2020 and early 2021. The purpose of the change was to give the charity incorporated status.  All aims, objecOves and policies remained the same. 

## **3. AccreditaEon** 

During 2019 the Museum’s formal AccreditaOon (granted by the Arts Council to those museums which meet its standards for collecOons, management and operaOon) was due for renewal.  A stay of applicaOon was granted to allow the Museum to change its consOtuOon (see below) and the final forms were submi<ed in early 2020.  However, due to the Covid pandemic the Arts Council has put on hold all work related to renewal of AccreditaOon, and has extended exisOng AccreditaOon unOl such Ome as the applicaOon can be reviewed.. 

## **4. Trustees** 

Under the consOtuOon of the CIO, the first Annual General MeeOng was to be held within 18 months of its establishment, and the AGM of April 2021 is therefore the first to be held.  Topsham Museum Society, its predecessor effecOvely wound itself up once all assets had been transferred to the new enOty, so no AGM 



was necessary for this body in 2020.  It would not have been possible to hold one in any case due the regulaOons on meeOngs in force during 2020 as from March. 

2020 began with the following are in place as Trustees of Topsham Museum: Chris Miller (Chairman), Alan Caig (Vice Chairman), Gill McLean (Secretary) John Claxton (Treasurer), Rosalind Beetham, John Dunsford, Rosie Hanvey, Jeff Try, Jack No<, Val Maxfield and Sue Wilkinson. 

During the year resignaOons for various reasons were received from John Dunsford, Jeff Try, Jack No< and Chris Miller.  John Claxton stood down in the summer of 2020, as he had completed 9 years as a trustee. Alan Caig conOnued as AcOng Chair throughout the year. 

The Board co-opted Emma Jackson, Paul Wiley and Rodney Spiller as new trustees, the la<er in the office of Treasurer. 

Under the new consOtuOon, at the first AGM the enOre board must reOre and new elecOons be held.  The charity has decided to maintain the rule of maximum service (ie 9 years as a trustee) as if the new enOty had not been formed, and so Rosalind Beetham is standing down. 

## **5. ConsEtuEon** 

Topsham Museum has now formally completed all the work necessary to convert to a Charitable Incorporated OrganisaOon (CIO).  All assets have been transferred to the new body, including the lease held from Exeter City Council for 25 Strand.  The la<er transfer necessitated a complicated process as the City Council had to waive its right to recover the property if the lease were assigned.  Although the new consOtuOon looks very different from its non-incorporated predecessor, its effect is to allow the charity to run in exactly the same way in terms of its membership, trustees and general operaOons.  For a while the trustees were in fact trustees of both bodies. 

## **6. Management** 

The strategic management of the Museum is undertaken by the Trustees while the day-to-day operaOons are overseen by a Management Team of volunteers who in turn have teams of volunteers covering each of the main Museum acOviOes. The Chairman of the Management Team from April 2020 was Julie Rashbrooke, who also leads our Publicity Team. 

The directors of Topsham Museum Trading Ltd during the year were Alan Caig, Fiona Douglas, Stevie Barre< and Rodney Spiller.  We have no paid curatorial or museum staff but The Royal Albert Memorial Museum (RAMM) in Exeter and Susan Eddisford, Devon Museum Development Officer, provide invaluable professional assistance.  The consOtuOon provides a non-voOng place on the Board for a museum professional, and this role has been ably filled by Tom Cadbury, a RAMM curator and our Curatorial Advisor. 

## **7. Financial** 

The accounts form part of this Review. The accounts have been examined by Von Mathieson and approved by the Trustees. 

## **7.1 Reserves Policy** 

The Society maintains financial reserves to ensure the conOnuing solvency of the Society should one or more unforeseen circumstances arise, in parOcular historical levels of income not being maintained, or 



significant unscheduled expenditure being required. The Trustees have taken into account the increased risk posed by the current economic uncertainty. 

In addiOon, the Society’s expenditure is incurred mainly during the first quarter of the year, when general maintenance and stocking the shop are undertaken, whereas significant income does not start unOl April when the Museum opens. Year-end reserves need to be £7,000-8,000 higher than the minimum level to cover this trend. Taking account of the perceived risks associated with the above factors, both individually and in combinaOon, the Trustees have established a policy of maintaining year-end reserves of between £30,000 and £35,000. 

## **7.2 Society Reserves as at 31 December 2020:** 

On 31 December 2020, cash in the general Fund stood at £96,117 (£87,527 - 2019) and in the Designated Fund at £97,766 (£97,067 - 2019).   All funds have been transferred to Topsham Museum. 

The Designated Fund called “The Legacies and Gi^s Fund” was created in 2011 from legacies and gi^s received by the Society with the intenOon that these funds should not be used for day-to-day expenditure but should be reserved for special projects. 

## **8. Review of the year** 

2019 proved to be another very successful year, helped by a good summer. 

## **8.1 Visitor Numbers** 

The museum remained closed throughout 2020, due to the Covid pandemic. 

## **8.2 ExhibiEons** 

An exhibiOon on the market garden industry was to have been the main event for 2020, but of course was not possible.  All being well, it is planned to mount the exhibiOon as soon in 2021 as the museum is able to open.  The Ometable for forthcoming exhibiOons has been adjusted.  A cooperaOve venture with ExeDFAS (Topsham branch of Arts Society) to research the Art and ArOsts of the Exe Estuary began during the year. Covid has so far restricted volunteer training and research opportuniOes. 

## **8.3 Oral HIstory** 

The team had planned to expand the museum’s work on oral history, and had purchased a new digital recorder, and trained several volunteers.  This work is on hold unOl such Ome as interviews are possible again. 

## **8.3 The Museum Gardens** 

The gardening team conOnued to work hard during various lockdowns and other restricOons, and indeed it was clear that the river garden was a much valued sanctuary for many in difficult Omes.  Due to the increasing number of requests for memorials in the gardens, the Trustees have established criteria to manage the numbers, content and appearance of such memorials. 



## **8.4 Maintenance of the Building** 

Our Maintenance Team, led by Peter Gray with Fred Nichols, has also conOnued throughout the closure – regular inspecOon and maintenance is crucial when an old building remains largely unused. 

Exeter City Council conOnues to be a good landlord and the support we receive from Peter Davies, its Senior Architect, is a big factor in our ability to keep the building comfortable for visitors, volunteers and of course the objects.   Major projects during the year have included remedial work to prevent dampness in the external walls. 

Part of the floor in the parlour was taken up and work was also done to resolve damp issues in the Shapter Street and garden walls of the exhibiOon room.  (Started before Christmas 2020 and completed in January 2021).  A glass panel was inserted into the main entrance door, allowing the door to remain closed during opening hours on cold days.  The toilets have been relabelled as unisex and an infant change table installed. The contract with the cleaner has conOnued throughout the closure. 

## **8.5 InformaEon Technology** 

A huge effort during 2020 has seen the creaOon of a completely new feature on the museum website.  A virtual tour of the enOre building allows anyone to see every room in panorama, and choose individual objects and features for addiOonal informaOon.  There is an audio descripOon of each room and feature, including some designed for children.  We owe enormous thanks to Neil Henderson and the Virtual Tour Company who went out of their way to make this happen within our Omescale and our budget. 

A new online shop has been set up and has proved to be a lifeline – thanks to Andy Graham-Cumming and Fi Douglas for this work. 

## **9.  The Corona Virus Pandemic** 

The museum reacted to the onset of Covid-19 by senng up a small working party to review the opOons.  A lot of work was done in the early days of the first lockdown, starOng in March 2020, to prepare for what we thought might have been a highly restricted opening later that Spring.  Opening was theoreOcally possible for us in late summer, but the trustees looked at the work necessary in such an uncertain climate, at the age profile of its volunteers and at the likelihood that visitors were unlikely to return in great numbers, and decided not to open in 2020.  Given the relaOvely short Ome that museums were able to open, this was a good decision. 

This led to the forming of an acOon team to “keep the spark alive”, and this proved a huge success.  The team oversaw the creaOon of the Virtual Tour, compiled and prinOng a completely new 48-page Museum Guide; these were funded by the South West Museums grant referred to below.  Using a special budget set aside by the Trustees for keeping the spark alive, the team also guided the unique Lockdown Fox project, perhaps the real success story of 2020.  StarOng with some delighqul illustraOons and a poem, both by Phil Keen, the museum published a book, sold thousands of Christmas cards and also set up a Christmas scene for those out on their regular exercise ouOngs to watch behind the front gates. 

Julie Rashbrooke spearheaded an exciOng expansion of museum presence on social media plaqorms - posOng weekly to keep the museum in the public eye.  Carol Dant regularly refreshed the front window displays, while Phil Keen ensured that interesOng posters regularly appear around the town. And of course 



the Fox moves around the garden, ensuring a constant stream of li<le faces peering through the garden gate to see where he might be. 

The museum has been keen to ensure that it was able to take advantage of the various financial assistance packages which the Government and others have made available during the pandemic.  We applied successfully for two grants – a Sector Recovery grant from ECC and a South West Museums Development grant funded by the Art Fund and Arts Council England.  These have been able to underpin our financial survival and were also the source of funds for the innovaOons described above.  A further Recovery grant applicaOon has been submi<ed. 

Thanks to Phil, as well as to Andy Graham-Cumming and Ed Rashbrooke for the Virtual Tour, and to David and Catriona Ba<y for the guide.  The “Keeping the Spark Alive” team was Rachel Nichols, Gill McLean and Julie Rashbrooke. 

## **10. PublicaEons** 

Two booklets connected to the planned market gardens exhibiOon were published in the Spring and have been on sale online. 

The 23[rd] ediOon of Museum’s annual journal, Topsham Times, came out  In the summer of 2020 and was delivered to all members.  AddiOonal copies are available for purchase through the online shop. 

## **11. Fund-raising** 

In normal Omes, our coffee morning during Topsham Town Fayre Week, our Christmas Market in Ma<hews Hall and the biennial Secret Gardens are the main one-off events.  None of these took place in 2020.  Secret Gardens, which was due to be held in June 2020, was postponed unOl 2021 and then postponed again unOl 2022. 

During the autumn, a table at the Ma<hews Hall Saturday market and another outside in Fore Street generated income and maintained interest in the Museum. 

Stevie Barre< took over management of the Tea Room from 2020.  She masterminded the acquisiOon of new furniture but the Tea Room did not open at all during the year and the new furniture is sOll waiOng to be used. 

The online shop has been a huge success and we are very grateful to Fi Douglas, who spent much of the run-up to Christmas packing and posOng items that had been ordered online. 

## **12. Membership** 

Membership is a wonderful way of supporOng the Museum and provides a valuable income stream. We shall be looking to further increase membership numbers in 2021 once we are operaOng again. 

## **13. Volunteers** 

The museum is immensely proud that two of its most hardworking and longstanding members, Rachel Nichols and Jennifer Bliss, were awarded the BriOsh Empire Medal in the Queen’s New Year’s  Honours. 



CongratulaOons to both of them for this well-deserved recogniOon, and thanks for all their efforts over the years. 

For many of our volunteers this has been a frustraOng Ome, unable to do something they love.  Small numbers of those responsible for maintenance or the garden, or for some of the lockdown iniOaOves, have perhaps been busier than usual, but it will be a great relief to have all our volunteers back and working once the museum is open again. 

During the summer and autumn of 2020, small ‘tea parOes’ were held in the garden.  These allowed volunteers to socialise in small, socially distanced groups and maintained some level of togetherness. 

We would encourage anyone who might be interested in becoming a volunteer to join us. The range of work we can offer is very varied and can be tailored to meet the individual’s needs and Ome available. 

## **14. Planning Ahead –the Museum in 5 years’ Eme** 

We are fortunate that the Museum is in a strong posiOon, parOcularly in comparison with many similar organisaOons, but we can expect to face a number of challenges over the next few years.  We must conOnually keep abreast of changes in visitors' expectaOons and also need to prepare for the withdrawal of Exeter City Council's grant in 2021 and the expiry of the current lease on our premises in 2026.  Trustees and volunteer team leaders work together to develop robust plans to ensure that the Museum remains in a strong posiOon.  We have recently re-designed our strategy group, which is now focused on providing advice to the trustees on long term issues relaOng to the building, our financial posiOon and the role of museums in the coming years. 

## **15. Outlook for 2021** 

2020 was a year that no-one foresaw.  2021 sOll has the capacity to surprise us, but at the Ome of wriOng, the museum’s teams are planning to open on June 24[th] , iniOally from Thursday to Sunday each week.   All being well, we shall then remain open unOl Christmas, perhaps reducing to weekends as the winter sets in. A^er a year and a half of closure, this will require a huge amount of work – cleaning, preparaOon, the new exhibiOon and so on.  We can hope for nothing more than a quiet, unevenqul four months of receiving visitors again.  Fingers crossed! 

We have our own website and are on Twi<er, Instagram and Facebook where more details on our extensive programme can be found. 

## 

We believe that this report demonstrates that the Trustees interpret our mission as widely as our resources allow. We see the benefits to our community as being: 

- We run an Accredited Museum open to all and operaOng to standards of best 

- pracOce. 

   - Admission to the Museum is free. 

- The Museum is conOnuously developing its permanent display and offers at 

- least three special exhibiOons each season. 

   - Our gardens, adjoining the river, as well as our Tea Room are open to all. 



· Special events are designed outside opening hours to give people, who find our normal hours difficult the opportunity to experience the Museum. 

· ’ We give special a<enOon to children s acOviOes both during and outside normal opening hours. 

- Our lecture programme is wide-ranging, free of charge and open to all. 

· We organise visits for special interest groups. 

· “ We publish annually Topsham Times” with arOcles of historic interest to the area and have a programme of publicaOons linked to our collecOon and special exhibiOons. 

· We collect artefacts and informaOon, including oral history, for future generaOons and ensure that they are catalogued and cared for in line with best pracOce. 

· We offer faciliOes and support for local and family historians. 

- We provide local people with opportuniOes to volunteer to help run an 

- organisaOon of great value to the community. 

· ’ Together with Exeter City Council we allow one of Topsham s most interesOng buildings in one of the most beauOful parts of the town to be open to all. 

## **Conclusion** 

2020 was a year which le^ some space for reflecOon, and the trustees used some of that Ome to develop policies to ensure our future stability and resilience.  We are now two years into the period of grace which allowed us to conOnue to receive rent grant, and in a year’s Ome we will be paying rent again.  We are looking towards the end of our current lease in 2026, and a period of negoOaOons with our landlord, Exeter City Council, themselves now under severe pressure and facing huge challenges. 

I wrote in this slot last year, “I am very conscious in wriOng all the above that in relaOng the facts on consOtuOons, finances, premises and so on, the essenOal purpose of the Museum – the conservaOon and display of the town’s heritage is somehow overlooked”.   Li<le did I know that in 2020, consOtuOons, finances, premises etc would be almost the enOrety of what we would be doing.  I am more than confident however that our volunteers are only waiOng for the signal, and they will be back at work welcoming hordes of delighted visitors, desperate to go somewhere and see something.  Thank you to them, I can’t wait to see you all again! 

Alan Caig Vice Chairman 



Page 1 

## **TOPSHAM MUSEUM (Registered Charity No. 1185943) CONSOLIDATED STATEMENT OF INCOME & EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2020** 

|**Notes**<br>**Income and endowments from:**<br>**Donations and legacies**<br>Gifts and donations<br>Legacies<br>Gift aid relief<br>**Trading activities**<br>Research and Fund raising events<br>Shop sales<br>3<br>Tea room sales<br>**Other charitable activities**<br>Membership subscriptions<br>2<br>Visitors' donations<br>Grant from Exeter City Council<br>COVID Retail, Leisure & Hospitalty Grant<br>South West Federation Grant<br>**Investments**<br>Bank interest and other interest<br>**Replacement Printing**<br>**Total**<br>**Expenditure on:**<br>**Raising funds**<br>Cost of shop sales<br>3<br>Cost of tearoom sales<br>Bank & card charges<br>Support costs<br>4|**Restricted**<br>**General**<br>**Designat-**<br>**ed funds**<br>**Heritage**<br>**Lottery**<br>**project**<br>**fund**<br>**Total**<br>_2019_<br>£<br>£<br>£<br>£<br>_£_<br>1,303<br>0<br>0<br>1,303<br>_841_<br>0<br>0<br>0<br>0<br>_0_<br>1,294<br>0<br>0<br>1,294<br>_1,492_<br>**Unrestricted funds**|
|---|---|
||2,597<br>0<br>0<br>2,597<br>_2,333_|
||31<br>0<br>0<br>31<br>_3,311_<br>11,376<br>0<br>0<br>11,376<br>_10,750_<br>51<br>0<br>0<br>51<br>_19,789_|
||11,458<br>0<br>0<br>11,458<br>_33,850_|
||3,125<br>0<br>0<br>3,125<br>_3,153_<br>33<br>0<br>0<br>33<br>_2,910_<br>5,809<br>0<br>0<br>5,809<br>_5,809_<br>25,000<br>0<br>0<br>25,000<br>_0_<br>0<br>5,900<br>0<br>5,900<br>_0_|
||33,967<br>5,900<br>0<br>39,867<br>_11,872_|
||801<br>0<br>0<br>801<br>_1,096_|
||600<br>0<br>0<br>600<br>_0_|
|||
||**49,423**<br>**5,900**<br>**0**<br>**55,323**<br>**_49,151_**|
||2,743<br>0<br>0<br>2,743<br>_5,436_<br>954<br>0<br>0<br>954<br>_4,879_<br>357<br>0<br>0<br>357<br>_382_<br>5,841<br>0<br>0<br>5,841<br>_4,835_|
||9,895<br>0<br>0<br>9,895<br>_15,532_|





|**Expenditure on:**<br>**Charitable activities**<br>Depreciation of fixed assets<br>Keeping the Spark Alive<br>Topsham Trail Brochure and Promotion<br>SW Fed Grant<br>Education<br>Lectures - Fees & Donations<br>Exhibits<br>Collections Management System<br>Gardening<br>Publications<br>Newsletter<br>Publicity<br>Rent payable to Exeter City Council<br>Repairs & maintenance<br>Training<br>Support costs<br>4<br>**Total Expenditure**<br>**Net income**<br>**Transfers between funds**<br>5<br>**Net movement of funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|5,873<br>2,269<br>20,275<br>28,417<br>_28,928_<br>4,182<br>0<br>0<br>4,182<br>_0_<br>1,249<br>0<br>0<br>1,249<br>_0_<br>0<br>2,932<br>0<br>2,932<br>_0_<br>321<br>0<br>0<br>321<br>_558_<br>0<br>0<br>0<br>0<br>_353_<br>1,310<br>0<br>0<br>1,310<br>_914_<br>2,100<br>0<br>0<br>2,100<br>_2,100_<br>51<br>0<br>0<br>51<br>_542_<br>456<br>0<br>0<br>456<br>_407_<br>44<br>0<br>0<br>44<br>_0_<br>481<br>0<br>0<br>481<br>_751_<br>3,200<br>0<br>0<br>3,200<br>_3,200_<br>1,759<br>0<br>0<br>1,759<br>_4,142_<br>0<br>0<br>0<br>0<br>_0_<br>13,629<br>0<br>0<br>13,629<br>_11,283_|
|---|---|
||34,655<br>5,201<br>20,275<br>60,131<br>_53,178_|
||44,550<br>5,201<br>20,275<br>70,026<br>_68,710_|
||**4,873**<br>**699**<br>**-20,275**<br>**-14,703**<br>**_-19,559_**<br>0<br>0<br>0<br>0<br>_0_|
||4,873<br>699<br>-20,275<br>-14,703<br>_-19,559_<br>154,161<br>97,067<br>88,635<br>339,863<br>_359,422_|
||**159,034**<br>**97,766**<br>**68,360**<br>**325,160**<br>**_339,863_**|





Page 2 

## **TOPSHAM MUSEUM (Registered Charity No. 1185943) CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER 2020** 

|**Notes**<br>**Tangible fixed assets**<br>Leasehold improvements<br>6<br>Furniture & equipment<br>6<br>Display & flooring<br>6<br>Information technology<br>6<br>**Current assets**<br>Stocks at lower of cost and net<br>realisable value<br>Debtors & prepayments<br>8<br>Principality Building Society<br>Bank accounts<br>9<br>Cash in Hand<br>**Current liabilities**<br>Creditors<br>10<br>**Reserves**<br>Unrestricted funds  - General fund<br>Designated funds<br>11<br>5<br>Restricted fund -<br>5,11<br>Lottery Heritage Project|£<br>£<br>_£_<br>_£_<br>84,416<br>_104,777_<br>20,497<br>_20,236_<br>20,309<br>_22,566_<br>4,011<br>_5,349_<br>129,233<br>_152,928_<br>1,844<br>_2,034_<br>-<br>_332_<br>-<br>_65,269_<br>193,883<br>_119,325_<br>200<br>_250_<br>195,927<br>_187,210_<br>-<br>_(275)_<br>195,927<br>_186,935_<br>325,160<br>_339,863_<br>159,034<br>_154,161_<br>97,766<br>_97,067_<br>256,800<br>251,228<br>68,360<br>_88,635_<br>325,160<br>_339,863_<br>2020<br>_2019_|£<br>£<br>_£_<br>_£_<br>84,416<br>_104,777_<br>20,497<br>_20,236_<br>20,309<br>_22,566_<br>4,011<br>_5,349_<br>129,233<br>_152,928_<br>1,844<br>_2,034_<br>-<br>_332_<br>-<br>_65,269_<br>193,883<br>_119,325_<br>200<br>_250_<br>195,927<br>_187,210_<br>-<br>_(275)_<br>195,927<br>_186,935_<br>325,160<br>_339,863_<br>159,034<br>_154,161_<br>97,766<br>_97,067_<br>256,800<br>251,228<br>68,360<br>_88,635_<br>325,160<br>_339,863_<br>2020<br>_2019_|
|---|---|---|
|||_152,928_<br>_186,935_|
||195,927<br>-||
||||
|||_339,863_|
|||_154,161_<br>_97,067_|
|||251,228<br>_88,635_|
|||_339,863_|



## **Adopted by the Council at its meeting on** 

**Alan Caig, Chairman** 



**TOPSHAM MUSEUM  (Registered Charity No. 1185943) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 

Page 3 

## **1. Accounting policies** 

The financial statements have been prepared under the historic cost convention, in accordance with the applicable accounting standards, the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting of Charities (SORP) issued in 2016 and The Charities (Accounts and Reports) Regulations 2008. 

## **Tangible fixed assets** 

The Museum leases the Building from Exeter City Council. The lease expires in 2026.  Leasehold improvements are amortised over the remaining period of the lease. 

Depreciation is charged on furniture and equipment and displays and flooring at 10% of the written down value. Depreciation is charged on information technology at 25% of the written down value 

## **Heritage assets** 

The exhibits owned by the Museum have been generally donated and are not included as tangible assets in the balance sheet. The exceptions are the four boats which were restored as part of the Heritage Lottery Project;  £35,000 was spent on their restoration and is being depreciated as part of that project. 

The Trustees fully appreciate the value to the Museum of all the heritage assets and appropriate insurance is in place. 

## **Investment in subsidiary company** 

The  Museum  set up a wholly owned subsidiary company, Topsham Museum Trading Limited in 2007. The issued share capital of Topsham Museum Trading Limited is £2, comprising two £1 shares. 

The Museum makes an interest free perpetual floating loan to the subsidiary company to cover the stock of the charity shop.  At December 31st 2020 stock stood at £1844 _(2019  - £2034)_ 

The financial statements include the consolidation of the subsidiary company. 

## **Funds** 

The General fund and the Designated funds represent the funds of the  Museum that the Trustees have earmarked for their respective purposes (see Note 11).  The Heritage Lottery Fund represents the funds committed for the building of  an extension of the Museum to house certain exhibits. 

## **Incoming resources** 

Donations are recognised when they are received Interest entitlements are accounted for as they accrue Grants receivable are accounted for when they are due and receivable Gift aid relief is accounted for when it is received 

## **Outgoing resources** 

Expenditures are accounted for as they accrue. 

|**2. Membership subscriptions**<br>Prior year life memberships (inc. honorary)<br>New life memberships<br>Annual memberships|2020<br>_2019_<br>Number<br>£<br>_Number_<br>_£_<br>31<br>-<br>_36_<br>_-_<br>2<br>200<br>_2_<br>_400_<br>323<br>2,925<br>_323_<br>_2,953_<br>356<br>3,125<br>_361_<br>_3,353_|
|---|---|





Page 4 

## **TOPSHAM MUSEUM (Registered Charity No. 1185943) NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **3. Trading sales and cost of sales** 

|**3. Trading sales and cost of sales**<br>Sales<br>Cost of sales<br>Card sale charges<br>Eshop online charges<br>Gross profit<br>**4. Support costs**<br>Cleaning & sundries<br>Computer running expenses<br>General expenses<br>Insurance-contents and liability<br>Insurance-buildings<br>Light & heat<br>Office, stationery etc.<br>Telephone<br>Water rates<br>Insurance-Trustees liability<br>Allocated to:<br>Fund raising trading<br>Charitable activities<br>**5. Movement of funds**|2020<br>_2019_<br>£<br>£<br>£<br>_£_<br>_£_<br>_£_<br>Shop<br>Tearoom<br>Total<br>_Shop_<br>_Tearoom_<br>_Total_<br>11,376<br>51<br>11,427<br>_10,750_<br>_19,789_<br>_30,539_<br>(2,743)<br>(954)<br>(3,697)<br>_(5,436)_<br>_(4,879)_<br>_(10,315)_<br>(56)<br>-<br>(56)<br>_(198)_<br>_(184)_<br>_(382)_<br>(215)<br>-<br>(215)<br>8,362<br>(903)<br>7,459<br>_5,116_<br>_14,726_<br>_19,842_<br>74%<br>-1771%<br>65%<br>_48%_<br>_74%_<br>_65%_<br>**Group and Museum**<br>2020<br>2019<br>£<br>£<br>3,406<br>2,496<br>512<br>897<br>594<br>1,065<br>8,315<br>3,559<br>2,609<br>2,609<br>1,878<br>3,191<br>375<br>560<br>705<br>561<br>519<br>572<br>557<br>608<br>19,470<br>16,118<br>5,841<br>4,835<br>13,629<br>11,283<br>19,470<br>16,118<br>**Group**<br>**Museum**|_2019_<br>_£_<br>_£_<br>_£_<br>_Shop_<br>_Tearoom_<br>_Total_<br>_10,750_<br>_19,789_<br>_30,539_<br>_(5,436)_<br>_(4,879)_<br>_(10,315)_<br>_(198)_<br>_(184)_<br>_(382)_|
|---|---|---|
|||_5,116_<br>_14,726_<br>_19,842_|



## **Group** 

|Balance b/fwd at 1 Jan 2020<br>Net movement of funds in year<br>Gross transfers between funds<br>Balance c/fwd at 31 Dec 2020<br>Represented by:<br>Fixed assets<br>Investment and loan to<br>subsidiary<br>Cash at bank<br>Net current assets (other)|General<br>fund<br>Design-<br>ated<br>funds<br>Heritage<br>Lottery<br>Fund<br>Total<br>General<br>fund<br>Design-<br>ated<br>funds<br>Heritage<br>Lottery<br>Fund<br>Total<br>£<br>£<br>£<br>£<br>£<br>£<br>£<br>£<br>154,161<br>97,067<br>88,635<br>339,863<br>154,161<br>97,067<br>88,635<br>339,863<br>4,873<br>699<br>(20,275)<br>(14,703)<br>4,873<br>699<br>(20,275)<br>(14,703)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|
||159,034<br>97,766<br>68,360<br>325,160<br>159,034<br>97,766<br>68,360<br>325,160|
||60,873<br>-<br>68,360<br>129,233<br>60,873<br>-<br>68,360<br>129,233<br>-<br>-<br>5,844<br>5,844<br>96,117<br>97,766<br>193,883<br>92,117<br>97,766<br>-<br>189,883<br>2,044<br>2,044<br>200<br>-<br>-<br>200|
||159,034<br>97,766<br>68,360<br>325,160<br>159,034<br>97,766<br>68,360<br>325,160|





Page 5 

## **TOPSHAM MUSEUM  (Registered Charity No. 1185943) NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020** 

|**6. Tangible fixed assets**<br>Furniture<br>Display<br>Informa-<br>Total<br>Heritag<br>e<br>Lottery<br>Project<br>"Ruby"<br>Boat<br>Shed<br>Other<br>nd Equip-meand Flooringtion Tech-<br>nology<br>**Cost**<br>£<br>£<br>£<br>£<br>£<br>£<br>£<br>At 1 January 2020<br>311,924<br>13,629<br>16,870<br>30,114<br>40,650<br>22,657<br>435,844<br>Additions<br>2,183<br>2,540<br>-<br>-<br>4,723<br>Disposals<br>-<br>At 31 December 2020<br>311,924<br>13,629<br>19,053<br>32,654<br>40,650<br>22,657<br>440,567<br>**Depreciation**<br>At 1 January 2020<br>223,289<br>7,272<br>7,085<br>9,878<br>18,084<br>17,308<br>282,916<br>Charge for the year<br>20,275<br>909<br>1,360<br>2,278<br>2,257<br>1,338<br>28,417<br>Eliminated on disposals<br>-<br>At 31 December 2020<br>243,564<br>8,181<br>8,445<br>12,156<br>20,341<br>18,646<br>311,333<br>**Net Book Value**<br>At 31 December 2019<br>88,635<br>6,357<br>9,785<br>20,236<br>22,566<br>5,349<br>152,928<br>At 31 December 2020<br>68,360<br>5,448<br>10,608<br>20,498<br>20,309<br>4,011<br>129,234<br>**7. Investment in subsidiary company**<br>2020<br>_2019_<br>£<br>_£_<br>Topsham Museum Trading Limited-shares<br>2<br>_2_<br>Topsham Museum Trading Limited-interest free loan<br>5,842<br>_6,032_<br>Group<br>Museum<br>_Group_<br>_Museum_<br>**8. Debtors and prepayments**<br>£<br>£<br>_£_<br>_£_<br>Bank interest<br>-<br>-<br>_187_<br>_187_<br>Support costs & Projects in Progress<br>-<br>-<br>_145_<br>_145_<br>-<br>-<br>_332_<br>_332_<br>**9. Bank accounts**<br>Current accounts<br>111,750<br>107,750<br>_41,080_<br>_37,080_<br>Deposit accounts<br>82,133<br>82,133<br>_78,245_<br>_78,245_<br>193,883<br>189,883<br>_119,325_<br>_115,325_<br>**10. Creditors**<br>Support costs<br>-<br>-<br>275<br>275<br>-<br>-<br>275<br>275<br>2020<br>_2019_<br>Leasehold Improvements|**6. Tangible fixed assets**<br>Furniture<br>Display<br>Informa-<br>Total<br>Heritag<br>e<br>Lottery<br>Project<br>"Ruby"<br>Boat<br>Shed<br>Other<br>nd Equip-meand Flooringtion Tech-<br>nology<br>**Cost**<br>£<br>£<br>£<br>£<br>£<br>£<br>£<br>At 1 January 2020<br>311,924<br>13,629<br>16,870<br>30,114<br>40,650<br>22,657<br>435,844<br>Additions<br>2,183<br>2,540<br>-<br>-<br>4,723<br>Disposals<br>-<br>At 31 December 2020<br>311,924<br>13,629<br>19,053<br>32,654<br>40,650<br>22,657<br>440,567<br>**Depreciation**<br>At 1 January 2020<br>223,289<br>7,272<br>7,085<br>9,878<br>18,084<br>17,308<br>282,916<br>Charge for the year<br>20,275<br>909<br>1,360<br>2,278<br>2,257<br>1,338<br>28,417<br>Eliminated on disposals<br>-<br>At 31 December 2020<br>243,564<br>8,181<br>8,445<br>12,156<br>20,341<br>18,646<br>311,333<br>**Net Book Value**<br>At 31 December 2019<br>88,635<br>6,357<br>9,785<br>20,236<br>22,566<br>5,349<br>152,928<br>At 31 December 2020<br>68,360<br>5,448<br>10,608<br>20,498<br>20,309<br>4,011<br>129,234<br>**7. Investment in subsidiary company**<br>2020<br>_2019_<br>£<br>_£_<br>Topsham Museum Trading Limited-shares<br>2<br>_2_<br>Topsham Museum Trading Limited-interest free loan<br>5,842<br>_6,032_<br>Group<br>Museum<br>_Group_<br>_Museum_<br>**8. Debtors and prepayments**<br>£<br>£<br>_£_<br>_£_<br>Bank interest<br>-<br>-<br>_187_<br>_187_<br>Support costs & Projects in Progress<br>-<br>-<br>_145_<br>_145_<br>-<br>-<br>_332_<br>_332_<br>**9. Bank accounts**<br>Current accounts<br>111,750<br>107,750<br>_41,080_<br>_37,080_<br>Deposit accounts<br>82,133<br>82,133<br>_78,245_<br>_78,245_<br>193,883<br>189,883<br>_119,325_<br>_115,325_<br>**10. Creditors**<br>Support costs<br>-<br>-<br>275<br>275<br>-<br>-<br>275<br>275<br>2020<br>_2019_<br>Leasehold Improvements|**6. Tangible fixed assets**<br>Furniture<br>Display<br>Informa-<br>Total<br>Heritag<br>e<br>Lottery<br>Project<br>"Ruby"<br>Boat<br>Shed<br>Other<br>nd Equip-meand Flooringtion Tech-<br>nology<br>**Cost**<br>£<br>£<br>£<br>£<br>£<br>£<br>£<br>At 1 January 2020<br>311,924<br>13,629<br>16,870<br>30,114<br>40,650<br>22,657<br>435,844<br>Additions<br>2,183<br>2,540<br>-<br>-<br>4,723<br>Disposals<br>-<br>At 31 December 2020<br>311,924<br>13,629<br>19,053<br>32,654<br>40,650<br>22,657<br>440,567<br>**Depreciation**<br>At 1 January 2020<br>223,289<br>7,272<br>7,085<br>9,878<br>18,084<br>17,308<br>282,916<br>Charge for the year<br>20,275<br>909<br>1,360<br>2,278<br>2,257<br>1,338<br>28,417<br>Eliminated on disposals<br>-<br>At 31 December 2020<br>243,564<br>8,181<br>8,445<br>12,156<br>20,341<br>18,646<br>311,333<br>**Net Book Value**<br>At 31 December 2019<br>88,635<br>6,357<br>9,785<br>20,236<br>22,566<br>5,349<br>152,928<br>At 31 December 2020<br>68,360<br>5,448<br>10,608<br>20,498<br>20,309<br>4,011<br>129,234<br>**7. Investment in subsidiary company**<br>2020<br>_2019_<br>£<br>_£_<br>Topsham Museum Trading Limited-shares<br>2<br>_2_<br>Topsham Museum Trading Limited-interest free loan<br>5,842<br>_6,032_<br>Group<br>Museum<br>_Group_<br>_Museum_<br>**8. Debtors and prepayments**<br>£<br>£<br>_£_<br>_£_<br>Bank interest<br>-<br>-<br>_187_<br>_187_<br>Support costs & Projects in Progress<br>-<br>-<br>_145_<br>_145_<br>-<br>-<br>_332_<br>_332_<br>**9. Bank accounts**<br>Current accounts<br>111,750<br>107,750<br>_41,080_<br>_37,080_<br>Deposit accounts<br>82,133<br>82,133<br>_78,245_<br>_78,245_<br>193,883<br>189,883<br>_119,325_<br>_115,325_<br>**10. Creditors**<br>Support costs<br>-<br>-<br>275<br>275<br>-<br>-<br>275<br>275<br>2020<br>_2019_<br>Leasehold Improvements|
|---|---|---|
|||_332_<br>_332_|
|||_41,080_<br>_37,080_<br>_78,245_<br>_78,245_|
||193,883<br>189,883|_119,325_<br>_115,325_|
||-<br>-|275<br>275|
||-<br>-|275<br>275|





## **11. Designated and restricted funds** 

|**11. Designated and restricted funds**||
|---|---|
|Designated Fund - Legacies and Gifts<br>South West Federation - Designated Fund<br>Restricted Fund - Heritage Lottery Project<br>Total|At 1 Jan<br>2020<br>Income<br>Expenditure<br>Transfer<br>from/(to)<br>General<br>At 31 Dec<br>2020<br>97,067<br>(5,201)<br>91,866<br>5,900<br>88,635<br>(20,275)<br>68,360|
||185,702<br>5,900<br>(25,476)<br>160,226|



## **12. Keeping the Spark Alive** 

It was agreed by the Trustees that up to £10,000 could be spent under the heading of Keeping the Spark Alive as the Two income-producing activities took place, the production and sale of the Lockdown Fox Booklet and the Museum Xmas Card. Income from these is recorded in the TMT accounts. 

|s recorded in the TMT accounts.||
|---|---|
|Total Money Spent<br>Total Money Received (after expenses)<br>**Net Profit**|£<br>(4182)<br>8217|
||**4035**|



## **13. Grant from South West Federation of Museums** 

A grant for £5,900 was received from SW Federation to pay for the creation of a Virtual Tour and Museum Guide. Todate £2932 has been spent, leaving a balance of £2968. 

## **14. Insurance** 

Two payments were made during the year for Contents and Liability Insurance. The first payment made on 7/1/20 was a late payment for 2019/20. It was due in December 2019. The payment for 2020/21 was made on 16/12/20. 

## **15. Replacement Printing - Topsham Trail and Promotion** 

A problem arose concerning the Topsham Trail publication (and the Spooky Trail game)  in that there were objections raised by a local businessman to the wording. He agreed to pay £600 for replacement printing if the original copies held were destroyed and the items corrected and reprinted. 




## **Independent examiner's report on the accounts** 

**Section A                                                            Independent Examiner’s Report** 

## **Report to the trustees/ members of[TOPSHAM MUSEUM ]** 

**On accounts for the year December 2020 Charity no 1185943 ended (if any)** 

**Set out on pages** 

**1** 

- **Respective responsibilities of trustees and examiner** 

- The charity's trustees are responsible for the preparation of the accounts. The 

- charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. 

It is my responsibility to: 

      - examine the accounts under section 145 of the Charities Act, 

      - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and 

      - to state whether particular matters have come to my attention. 

   - **Basis of independent** My examination was carried out in accordance with general Directions given by the **examiner’s statement** Charity Commission.  An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters.  The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. 

- **Independent examiner's** In connection with my examination, no matter has come to my attention which gives **statement** me reasonable cause to believe that in, any material respect, the requirements: 

         - to keep accounting records in accordance with section 130 of the Charities Act; and 

         - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 

         - have not been met. 

**Date:** 05/03/2021 **Signed: Name:** Veronica Mathieson 

**Relevant professional** Exeter Community Accounting **qualification(s) or body (if any):** 

**Address:** c/o Magic Carpet, Exeter Phoenix, Gandy Street, Exeter EX4 3LS 

1