2020-12-31-accounts - Insurance Museum

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			SORP reference
Summary	ofthe purposes		Para 1.17	Education/training
ofthe charity as set out in				Arts/culture/heritage/science
its governing document
Summary activities	ofthe main in relation to those		Para 1.17and 1.19	Curate and interpret the educational and heritage story (past, present and future)
purposes	forthe public			ofthe national and	global insurance
benefit, in particular,		the		market and related	services	and
activities,	projects or			industries. Share the story ofinsurance,
services identified in		the		with all audiences,	through	curated
accounts.				exhibition content,	educational		outreach
				activities, digital resources,		film	content
				and events. An educational		forum for
				engaging audiences	in the story		of
				insurance.
Statement	confirming		Para 1,18	Ag Trustees have read guidance			and
whether the trustees		have		signed Charity Coinmission		declaration.
had regard to the guidance
issued by	the Charity
Commission on pubiic
benefit

chieve	ments and Per	formance
		SORP reference
			The Insurance Museum Charity was
			founded	in February 2020. During the
			10month	period	to 31December 2020,
Summary ofthe main achievements ofthe charity,		Para 1.20	the main achievements ofthe charity were establishing future plans and
identifying	the difference the		strategy,	identify	and approaching
charity's	work has made to		potential	trustees	and initiating
the circumstances ofits			networks	for future fundraislng.
beneficiaries and any wider
benefits to society as a
whole.

Achievements against	Para 1.41
objectives set
Performance offundraising activities against objectives	Para 1.41
set
Investment performance	Para 1.41
against objectives
Other

Financial Review
Review ofthe charity's			Para	1.21	Received	a one-off		donation ofR25,000
financial position at the	end				from the	Chartered		Insurance		Institute.
ofthe riod
Statement explaining the			Para	1.22	There are		no reserves.
policy for holding reserves
statin wh the are held
Amount ofreserves held			Para	1.22
Reasons for holding zero			Pars	1.22	During the		first i0	months	ofthe
reserves					Insurance		Wluseum	charity, the only
					work carried out was planning					forthe
					future. There were			no financial		or
					contractual		cornntilmenta,		and no
					assets were owned			by the	charity. The
					Charity's	income and balance				was
					525,000.It		was therefore decided that
					organisational risk			was low, and
					reserves	were not		needed	to be held.
Details offund materially		in	Para	1.24	None
deficit
Explanation ofany			Para	1 23	None
uncertainties about the
charity continuing as a going
concern
Additional information	(optional)
You ma choose to include		further statements			where relevant about:
The charity'6 principal sources offunds (including			Para	1.41
any fundraising)
Investment policy and objectives including any			Para	1.46
social investment policy
adopted
A description ofthe principal			Para	1.46
risks facing the charity
Other

Description ofcharity's
trusts:
Type of governing document		Para 1.25	Charitable		Incorporated	Organisation
			Constitution
How is the charity		Para 1.25	CIO
constituted?
Trustee selection methods		Para 1.25	In this period, the first 10months, the
including details ofany			founding	Trustees volunteered.			During
constitutional provisions	e.g.		this period,		work around	identifying		and
election to post or name	of		approaching		potential trustees		was
any person or body entitled			carried out
to appoint one or more
trustees
Additional information	(optional)
You ma choose to include further statements			where relevant about:
Policies and procedures
adopted for the induction		Para 1.51
and training oftrustees
The charity's organisational structure and any wider		Para 1.51
network with which the
charity works
Relationship with any related		Para 1.51
parties
Other

ames	ofthe charity trus	ofthe charity trus	tees who manage	the charity	the charity
	Trustee name		Office {ifany)	Dates acted ifnot for whole ear		Name to a	ofperson {orbody) entitled oint trustee ifan
1	Reginald	Brown	Chairman	24/02/2020 - present
2	John Bissell		Treasurer	24/02/2020 - present
3	Judith Pleasance		Trustee	24/02/2020 - present
4	Roger Sanders		Trustee	18/01/2021 - present
5	Maria Baez Bano		Trustee	17/02/21	- present
6	Dr Adrian	Leonard	Trustee	30/09/21	—present
7	Stephen	Wilkinson	Trustee	12/10/21	- present
8
9
10
11
12
13
14
15
16
17
18
19
20

Trustee	name	Dates	acted	ifnot	forwhole	ear
N/A

Names an	d addresses ofadv	isers (Optional information)
Type of	Name	Address
adviser
Name of	chief executive or names ofsenior staff members		(Optional	information)

							~ ~	~ 8 ~
							Unrestrlcterl	Res'.r'l..ted		Endowment
							fultds to nance ' 0	funds te nearest	0	funds to nearest t
81 Cash funds				(	&M -0		4 ac r I, CAP:
					Tora/ cash filode
			agree	balances	rrIth IeceIpls	acd payments
						account(s))
							Unrestricted	Restrp ted		Endowment
			*' (ml;				fultds to near st p.	fUINls cnearest	F.	fund to I'.8*1estt
82 Other monetary assets
83Investment	assets						Fund 'to which 8s p, Ie'oner	Cost (opuona0		Current valur- ~la':i&"er
84Assets retained for		the	nfl				Fund tcwhich cs c' lo.	Cost (optional)		'8"I'I'I'I Ual "8 8 senal
charityrs own use
88Lish(I)ties							Funrl Ic whl *.". il8) irh/.' la'tes	Anrount due ~lostion*I'		Whl"n du" ~A~na, r
Slut"8c Icv 0 ieor Iwo rru Is behalf of all tne irltstees		' on	r	Signature			Prior	hlame		Dare of
							c) )	its(c---.—
CC/W R2 accorntrs (SS)										06/1 0/2021