Charity Reglstration No. 1190303 Company Regtstration No. CE022442 (England and Wales) THE BETHLEM ART AND HISTORY COLLECTIONS TRUST REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Ms E Bateman Dr N Hervey Prof R Howard Ms J Lockett Ms J Smart Ms B Robertson s M Guinness r G Munn OBE Di C Campbell Di O Ayonrinde Ms C Hudson (Appointed 17 May 2022} (Appointed 17 May 2022} (Appointed 25 January 20231 (Appointed 25 January 20231 (Appointed 25 July 20221 Finance officer Ms J Smart Correspondent Mr C Galo Charlty number 1190303 Company number CE022442 Reglstsred office Bethlem Museum of the Mind Monks Orchard Road Beckenham Kent 8R3 3BX Independent examiner Kerry Gallagher on behalfof RSM UK Tax and Accounllng mited DAvidson Housa Forbury Square Reading Berkshire RG13EU
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST CONTENTS Pago Trustees, port Independent exarnin&¢s report Stslement of financial activities Ba18n¢e sheet Statèment of cash flow8 Notes to the financial statem6nts 8-17
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present thèir rèport with the financial statements of thè Bethlem Art and History Colections Trust IBAHCTI for the year ¢nded 31 March2023. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Pr8dce ISORP) 'Accounting and Reporting by Charities" effective 1 January 2019. Structure, goveman¢e and management The Belhlem Art and History Collections Trust 15 a Ch814table Incorporated Organisation govemed by Constitution. The governing b¢Kly of the Charitable Incorporated Organisation is the South London and Maudsley NHS Foundation Trust ISLaMI. As defined in the Constitution, the numbei of Irusleès shall not be less than five and not more than e1ve at any time, of whl¢h up to six may be appointed by the goveming body {SLaMI. Olherwiso, the powar of appointing new trustees is vestèd in those continuing trustees who have not been appointed by the goveming body. The six SLaM Trust&es are recruited through a ¢onsultation process with the Chief Executive and SLaM Trust Board Secretary and are generally persons directly connected with rnental heaSlhcare. Appointments at? fomally made by the full SLaM Trust Board and notified lo the charity. The six independent Trustees are recruited through consultation process with the existing Trustees and the Museum's Director. and are generally persons whose background. experience and professional skills widen the knowledge and èxpèrtise of the TTUStee Body. Appointments are made by 8 vote ofthe existlng independgnt Iruslees al a formal meeting. Before or on appointment, all trustees are invited to vis(( the Musoum, are briefed by the Director and staff on sile and are sent copies of the Constitution. Business Plan, the last Annual Réport and Accounts and the Charity Commission Guidance fortrustees. At the end of Financial Year 2022-2023 ther8 W8re 11 trustees. The Trustoés ordinarily meet three times 8 year. The Tnjstees have appointed 8 FlThan and Management Committee consisting of the Treasurer, the Chair and one other trustee, plus the Director, which ordinarily rneets three limes a year in the intervals between full Irustees, rneelings. Minutes of these meetings are *nl to all trustees. Ms Jill Lockett o)ntlnued to serve as Chair lo BAHCT throu9hout 2022-2023. The charty's staff u)fflpri$es the staff of the Bethlem Museum of the Mlnd. who are employed by SLaM and attached lo BAHCTfor dutEs. The staff during the year were as follows= Dlrector Archivist Learning Officer Regislrar10.6 FTE} Documen18tion Officer Administrator 110.66 FTEI Adminislralor 2 {0.4 FTE) Colin Gale David Lud( Amy Moffal Rebecca Raybone Peter Lloyd Heather Rèed Alison deBuc
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Objective$ and a¢tlvltles The Trustèes confirm that they have Complied with the duty in Section 4 of the Ch8rili@s Act 2011 to have due regard to the Charity Commission's gener81 guidance on public benefrt. Bethlem Art and History Collections Trust is a registered charity whose ¢harltable purpose, defined wllhln the Ch8riligs Act 2011. is enshrined in the mission Statement of Bethlem Museum of the Mind, which is run by the charity.. To collect, preserve and interpret for thg benefit of the public, archivas, pictures, artefacts and rnanusciipls relating to mental health. To promote wider knowledge of the history of mental heah care and treatment. To contribute generally lo the public understanding and d&stigmalisatK)n of monta5 illness. The main actlwlies of the Museum are to-. Safeguard, maintsin and administer the art and hlslorical collections of the Bethlem Art and Hlstory Collection5 Trust and develop them in accordance wtth our dedared policies. Safeguard, maintain and administer thè public records entrusted to us by the South London and Maudsley NHS Fouftd81ion Tnjst in accordance with relevant legislative provisions. Promote the use of the collections for purposes of edu¢alion and lifelong learning in accordan¢& with our declared education policy. Promote access to the collections for the widest posslble audiences. both national and internallonal, through personal access to the archives and mus&um displays al BelhleTll Hospital. by remote acSS through information technology, and through programmes of off-site exhibitions and outrèach. Undertake and facilitate research into the history of mental health care and treatment. and the rdationship between art and rnental health. Fr)rm partnerships with other bodies as appropriate. Seok to obtain resources needed lo realise these aims. The Charity's Business Plan sets out the continuing development of Bethlem Museum of the Mind and specifies targets and performance indicators. A report is made to the Maudsley Charfly (who provide BAHCT'S core lundingl following the Trustegs, meeting which approves the Annual Rèport and Financial Ststéments. Achievements and perfomiance The 2022-23 financial year w8s 8 hlghty impacfful one for Belhlem Mu$eum of the Mind. The Museum's lempoTary exhibition A way from home.. Bethlem artists on longing and belonging was widely and positively reviewèd in the Obseryer, Independent, The CrilK, Publico, The Tablet, and Museum Cm$h among others. 11 provided valuable insights into how the concepts of home, and homelessness, can be shaped by exparience, etrnl¢ity, ¢ullure, and memory. Another exhibition, The la8 we present.. the diversity of lived expgrience ffn portraits. was co4urated with members of the NHS Trust's Lived Experience Network. 11 prompted and showcased deep ieflections on the Museum's collectlons of seNice user art on the part of those inhabiting both dlni¢al and patient role5, and helped to ernbed exhibition CprOdUCtion I'nothing about us without us'l within the Museum's ongoing practice. It was reviewed in The Guardian, the i newspaper, the Museums Joumal, Evenlng standard, and Musgum Crush among olhors. and Museurn staff were interviewed on Radio Kent and Timès Radio. Change Minds, a non-dinical 'CUku thgrapy, rgsearch programme whi¢h opans up access lo historic 8f4thiv81 material lo people aecassing, on a waiting list for. or volunteering for SLaM services, was facilitated by Museum staff for a third successive year. A limited-edition print of Benii Reid'5 Wellcome Trust award-winning photograph Holding onto Daddy (2016). and the artwork MRI SGan (2Q22) by thè artist known as'mud,, were brought into the Museum's cdlections. the first purch8sÈs supported by the V&A Purchase Fund and the British Antique Dealer8, Association. Both pictures speak powèrfully of the social impact of ment81 distress and alterity.
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Museum welcomed 10.848 in-parson visitor5 in the financial year. This is the highest number of visitors since 2015-16, the year in which the Museum opened and was a Museum of the Year finalist. Ils onllne 380° lour attracted 2,469 remote visits. 2.869 people visited as part of school, university and other learning groups. The Museum's impact was fell beyond its sits on the Bethlem Royal Hospital Campus. Loan agreements entered into by the Museum's Trustees meant that ils collections ftsrmed part of exhibitions seen by hundreds of thousands of visitors in mus6ums and galleries across the ¢ountry and abroad.. the Millènnlum GallerEs. Sheffield {23,582 visits). the Minn&apolis Institute of Art. Minnesot¥135,421 vi51151, the Bundeskunsthalle, Bonn {49,531 visilsl, Museum Dr Guislain, Belgium 170,497 visits), and the Be8ney House of Art and Knowledge, Canterbury13,975 visitsl- making a grand lolal of 183,006 visitors. Flnancial revlew The Charity reports an excess of expendiiure over income 01 £23,285 over the year under r8view12022.' income oveT expenditura £1,850). Rent and building rnainlenance chargès in relation to the Museum's occupation of Bethlem's Administration Building lotslling £135,710 were paid by BAHCT to the Maudsley Chariiy. Separately, BAHCT paid a further £5,007 to SL8M for provision of cleaning services for the financial year. Rgsgrves poli¢y The charity's total reserve¥ al 31 March 2023 were £388,571 12022.. £411,856), with £15.782 held as restricted funds12022.. £4,739). Free resetves al the balance sheet dale, which exclude restricted funds, designated funds and funds lied up iri tangible fixed assets, were £148,63912022'. £90,396}. The ¢harilYs financial reserygs policy is to hold at least six months, expenditure on sa18ry {exduding staff engaged in discharge of SLaM's public records dulyl 8Nd non-salBry items including ¢1ganing and service charges (but not rent). The approximate sum of these iletns for the year ending 31 Mareh 2023 is £232,000. This sum is to be achieved after the appropriate allocations lo the Development Fund. For the purpose of future fundraising, the charity further aspires in the medium tr) long temi lo accrue funds towards a credible percentage ofthe costs of the redevelopment of e Museum's permanent exhibition space. No fund is in d8fidL No funds are held as ¢ustodian trustee. Plans for future In 2023-24, the Trustees intend lo develop and ¢arry forward an action plan to strengthen the Museum's inclusive working culture and practices, folknwing a Teview of ils collections, workforce, and audiences by extema5 cx)nsullanls engagèd for the purpose. The Museurn's future &xhibrtion schedules, artwod( acquisitions and trustees, appointments will refflect a commitment to equity, diversity, and co-production. Tiustees also intend to develop and put out lo consultation a fresh aTticulalion of Museum strategy which c18arty demonslrales the alignment ol the MLJseum's vision and mlssion with that of its pnCiPal funder, Ihe Maudsley Charity, as well a$ with that of the South London and Maudsley NHS Trust, ahead of the publication d an entirety new three year Business Plan in early 2025. The Trustees, reportwas approved by tha board of Trustees on .. l 9].10.. and is signed on ils behalf by: Ms J Lockett Trustsg
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BETHLEMART AND HISTORY COLLECTIONS TRUST I ieport to the Trusteés on my examination of the finan81 statèménts of The Bethlem Art and History Collections Trust I'the tharfty'l for the year ended 31 March 2023. whiL* ar8 set out on pages 5 10 17. R¢sponslbl1E0$ and basis of report As the Trustees of the charity. you are responsibla for the preparation of the finan¢i81 ststements in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Act'l. I report in respect of My examination of the charity's financial slalements ¢8rried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicabte Directions given by the Charity Commission under section 145 (5llb} of the 2011 Act. An independent examination does not involve gathering all the evidence that would be requlred In an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the finanaal statements. Th8 planning and conduct of an audit goès bèyond the limited assurance that an independent examination Can provide. Consequently, l express no opinion 8s lo wh&ther the financial statements present a Ifue and fair vi&W and my report Is 51miled to thosa sp6fAfic rnatters sel out in the independ8nt examiner's statèment. Independent examln¢ls statement Since the charity's gross income Èxc8eded £250.WO, your examiner must be a mgmber of a body lisl8d in section 145 of lh¢ 2011 Act. I confirm that l am qualified lo undertake the examination, because l am a member of the Inslilule of Chartered Accountants England and Wales, which is one of the listed bodies. I have completed my examination. I nfIrM that no material matters have come lo my attentM)n in connection with the examination giving me reasonable Cause lo believe that in any rnalerial respect.. 1. accounting records were not kept in respect of thè ch8rty as required by section 130 of the 2011 Act,. or 2. the finan81 statements do not accord with those records, or 3. the financial statements do not comply with the applicable requiremenlg concerning the forni and content of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requirement that the financi81 slalemenls give a 'true and fair wew, which is not a matter Mnsidered as Part of an independent examination. I havè no concems and have corne across no other matters in connection with the examSnalion to whth attention should ba drawn in this report in order to enable a proper understanding of the finanaal ststements to be reached. Kerry Gallagher, FCA DChA The Institute ot Chartered AUntantS in England and Wales Chartered Aeeountant RSM UK Tax and Accountlng timiled Davidson House Forbury Squaie Reading Beikshire RG13EU 28109123 Dated. .........................
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestrictsd Restrietèd funds funds Total 2023 Total 2022 Notes Donations and lÈ98Ct8S Investments 468.380 2,748 13,848 482,228 2,748 514,136 1,304 Totsl income 471.128 13.848 484,976 515.440 Chitable activities 505,45S 2.805 508,28f 513.59) Total •xpgndlturo 505,456 2,805 508,261 513,590 Net movement In funds 134,3281 11,043 123.2851 1,850 Fund balances at 1 April 407,117 4,739 411,858 410,006 Fund balances at 31 Mar¢h 372,789 15.782 388,571 411,856
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST BALANCE SHEEr AS AT 31 MARCH 2023 2023 2022 Notes Fixed assets Tangible assots Investments 91,769 85,000 138,477 10 176,769 138.477 Curr•nt assats Dèbtors Investments Cash at bank and in h8nd 46,517 85,000 85,768 41,358 170.000 67,778 11 217,285 279.136 Credltorn: amounts falllng due wlthit) one year 12 15.4831 (5,757) Net current assets 211.802 273.379 Total assets less curtsnt liabllitl8S 388,571 411.856 Funds Reslricled funds Unrestricted funds 14 15 15,782 372,789 4,739 407.117 Total funds 388,571 411,856 The financial slalements were approved by the b()ard of Trustees on ...... .. Ms J Lockett Trust8&
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flows from operating activities Cash generated from operations 16 17,251 51,421 Investing actlvltigs Purchase of tangible fixed assets Purchase of current asset investments Interest received (2,009) {10.820) 1170.000) 1.304 2.748 Net cash generatsd froml{used in) investing activitiès 739 1179.316) Net increa$•lldocreasg1 in cash and ¢a$h equivalents 17,990 (127.8951 Cash and cash equivalents at beginning ofyear 87.778 195.673 Ca¥h and cash equlvalents at end of year 85,768 67,778
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounttng polieigs Charity inforniation The entity is a charity registèred in England and Wales. The ¢haritls obi8clives and aims a disdos8d in the Trustee3' report on page 2. Accountlng convention These financial slalements have been prepared in accordance with FRS 102 'The Finandal Reporting Standard applicab18 in the UK and Republic of Ireland., 'A¢¢ounting and Reporting by Ch8ri1ies' the Slalement of Recommended Pr8Ctice for charities applying FRS 102, and UK Generally AcLepted A(tounting Practice, as il applies from 1 January 2019. The charity is a Public Benefit Entlty as defined by FRS 102. Thè financial statements are prepared in Sterfing, which is the functional ojrrency of the charity. Monetary amounts in these financial slalements are rounded to the nearest £1. Thè financial statements have been prepared under thè histori¢al cost convention with itetns 0)gnisd al CO8t ortransaction value unsS otherwise Slated in the relevant notes to these financial slalements. Going concern On the basis of financial ft>re¢asts and prctjections for the future and on the grounds th81 the charity will be able to continue ils actNiliÈs and meet all of its liabilities as they fall due for a period of al least Iwèlve months from the date of the approv81 of these financial stalernen15, th$ Trustees have prePad tha finanual statements using the going concem prinaple. Assuran has beèn given to the TTUStees that The Maudsley Charty will ¢onb"nue to provide support to Thè Bethlem Art and History Collectlons Trust. Fund accountin9 The general fund comprises the 8ccumul3t8d surpluses ol unrestrictèd income oveT expendiluie, which a availab for use in furtheran of the general objective of the charity. Designated funds are a particular form ol uniestrieted funds consisting of amounts which have been allocated or sel aside for speafic purposes by the Tnjslees. The use of designated funds remains at the discretion of the Truslaes. Reslricted funds are funds subject to specific conditions Imposed by donors. The purpose and use of the restricted fvnds are set out In the notes lo th& financial statements. Amounts unspent al the year end ate carried forward In the balance sheet. Income Grants, donations and other similar types of vdunlary inwme ai& brought Into account when 1vable. DonatlOn8 given for specific purposes are tre*ed as restricted income. Investment income Is for accounted for on a receivable basis oncg the income has beon eamed. Employment costs arising on employées of South London and Maudsley NHS Foundation {SLaMI seconded lo the charty are recognised as income and expenditure in the period incurred and are valued at cost. Expenrtiturn Expendliure is recognised in the pgriod in which il is incuffed. Expenditure incurred on objects purchased for the collection Is wrltten off in the year inculd. Th8 amount expended is shown in the statement of financial aclivities.
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Aeeounting policies (Continued) Tangible fixed assets All tangible assets purchased that have a cost of more than £1,000 and have 8n expected usefvl economlc lrfe that exc8eds one year are capitalised and classlfied as fixed assets. Tangible fixed assets a inllially measured at cost and subsequenly measured al cost, nel of deprecialion and any Impairmentlgsses. Depreciation is recognisèd so as to write off the cost of assets less their residual values over their useful lives on the following bases-. Exhibttion equipment Office eqUIpent & fittings over 10 years over 5 years The gain or loss arising on the dlsposal of an asset is deleimlned a$ th& difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financAal activ¢(ies for the year. InvtMentS Investments are reoognised inillally 81 fair value which is normally the Iransa¢tion WI excluding transaction costs. Subsequenlly, they are measured at fair value with changes re(x)gnised in 'net gains I Ilossesl on inveslmÈnts' in the SOFA if the shares are publicly traded or their fair value can otherwise be meawred reliably. Other investments are measured at cost less impairment. Cash and cash èquivalènts Cash and cash equivalents is represented by cash at bank and in hand. Financial instruments The charity has applied tho provisions of Seclion 11 '8asio Financial Instruments, of FRS 102 to all of its finanal instruments. Financial Instruments are recognised in the Charity's balance sheet when the charity becomes party to the contractual provisions of the tnslrument. Financlal assets and liabilitie5 are olfsat, with the nel amounts presanted in the finanaal statements, when there is a tregally enforceable right to set off the recognised amounts and therè is an intention to settle on a net basis or lo rèalise the asset and selue the Ilablltty slmultaneously. Taxatlon The charity is a registered charity and as such, ils income and gains falling within Sections 371 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exèmpt from rporalion tax trj the extent that they are appliad to charitable objectives. Liabllltl A contsngent liabilty is dis¢losed for those grants, which do not represent liabilhles, where the posslble obligation. which arises from past events, will only be confimied by the occurrence of one or more uncertain future events not wholly within the Trustees, Control. Prowsions are recognlsed for those grants where there is uncertainty as lo the timin9 or amount, and wherè there is any uncertainty regarding the amount the Trustses determine a basls for reasonable estimation of thè liability arising from that constructive obligation.
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Criii¢al a¢¢ountlng •stlmates and Sudgements In the application of the charity's accounting policies. the Trustees are required to makè judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SOLJrces. The @stimates and associated assumptions arè basèd on historical experience and other factots th81 ale considered lo be relevant. Actual results may differfrom these estimates. 'Tha 8stimates and underfying assumpliL)ns arè reviewed on an ongoing basis. Revision8 to accounting estirnales are recognised in the period in which the estimate is revised where the rèwsion affects Imly that period, 01 in th& porlod of the revision and future periods where the revision affe¢is both current and future periods. Crltl¢al ludgaments Glfts In kind The chartty rnakes an esmate of the value of grFts in kind promded by donors. The esllmale is based on the information provided by the dorr. Donations and legacies Unrestricted Restricted lund funds Total 2023 Total 2022 Donations and gifts Grants receivable Donated services and facilities- See below Other 5,411 3S5,500 68,171 39,298 5.411 4,585 369,348 412,900 68,171 65,817 39,298 30,854 13,848 468,380 13,848 482,228 514,136 For the year ended 31 March 2022 514,136 514,136 Donated servlces and fa¢llltle$ In¢omg During the year under review, expenditur8 totalling £68.171 12022.. £65,817) was borne by SLAM. In order to show consistency. this arnount is induded in both income and expenditure. The expenditur8 r@18ted to Ihg follovling items.. 2023 2022 Sal8Nes and employment costs 68,171 65,817 10-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestrlcted 2022 2023 Interest re¢elvable 2,748 1,304 Charitable activtties 2023 2022 Staff costs Depreciation and impairment Rent and maintènance Insurance Development costs including depreatIon Conservation of collections Publicity, events 8nd exhibitions 211.989 2.854 138,515 5.531 52,248 2,695 14,508 212,423 563 129,862 6,631 52,951 5,498 7,937 428.340 415.86S Sharè of support costs (see note 61 Share ol govemance costs (see note 6) 70.461 9.460 88.265 9,460 508,281 513,590 Analysis by fund Unrestricted funds Restricted funds 505,456 2,805 513,508 82 508.261 513,590
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Gov8m¥n¢è costs Costs 2023 2022 Staff costs IT and website costs Bank charges Other expenditure Legal and professional fees Accountancy and other professional fees 24,541 11,618 279 34,023 24,541 11,618 279 34,023 23,160 17,219 326 45,760 1,800 9,460 9,460 9,480 70,461 9,460 79,921 97.725 Governanc¢ costs include payments lo the independent exarniner of £2,400 (2022.. £2.3401 for the independent examination. Staff Go$ts and remuneratlon of k&y managgmgnt personnel Number of employees The average m()nthly number of employees employed by SLaM and attached to BAHCTfor duties durlng the year was.. 2023 Numbèr 2022 Number Museum director Museum stsff Employment ¢osts 2023 2022 Salaries and amploymenl costs 236.530 23S.583 The salaries and employment costs arise on those employees of the South London and Maudsley NHS Foundation Tru81 and are all rarharged to the charity exc8Pt for the femuneration of the Diracior as the58 costs are borne by SLaM. No employee has eamed more then £60,000 in the Current Of prior period. The chartty considers the board of Trustees and the Museum Director a$ their key management personnel. Rèmun@ration of key management personnel was £53,703 12022.. £52,093) and ernployers national insur8nce was £14,46812022.. £13,723). No trustees were relmburs8d for cos15 incurred during the current or previous year. 12-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tangibl8 fixéd assots Exhlb6tOon 8quipmont oqulpmollt & fktlngs Cost Al 1 April 2022 Additions 458,632 82,374 2,009 541,OC 2,009 At 31 March 2023 458,632 84.383 543.015 Depreciation and impalmi8nt Al 1 Aprll 2022 Depreciation charged in the year 332,463 45,863 70,068 2.854 402,529 48,717 At 31 March 2023 378,326 72.920 451,246 Canylng amount At 31 March 2023 80,306 11.463 91,769 Al 31 March 2022 126.169 12,308 138,477 Debtors 2023 2022 Amounts fallln9 due withln onfy year: Prepayments and accrued income 46.517 41,358 10 Flxgd asset Investments 2023 2022 other investments 85,000 11 Current ass•t Invèstsnents 2023 2022 Other investments 85,000 17D.IXX) 13-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Creditors: amounts falling due within onè yèar 2023 2022 Accruals Bnd deferred income 5,483 5,757 Deforrgd Income 2023 2022 B818nce at 1 April Amounts deferred in the year Amounts ukn'lised in the year 225 225 12251 Balance 8131 March 225 In the prior year deferred income of £225 related to income from room hire forthe period 2022-23. 13 AnalyBis of not a8$0ts b•tW99n fund$ Unrestrictsd Designatèd Rgstricted General Fund Development Funds Fund Total Fund balances at 31 Marth 2023 are represented by.. Fixed assets Nel Current assets 96.463 143,945 80,306 52,075 176,769 15,782 211,802 240,408 132,381 15,782 388,571 Unrestricted Oe$ignatèd Restrtetsd General Fund Development Funds Fund Total Fund balances al 31 Mar¢h 2022 ara represented by.. Fixed assets Net Crnt assets 12,308 216,565 126,169 52,075 138.477 4,739 273.379 228,873 178.244 4,739 411,856 14-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Restricted fund5 The incoma funds of the charity indude feslricted fund5 cornprising the following unexpended b818nces of donatitsns and grants held on trust for specific purposes.. Movemènt in funds In¢om& Exp&nditur• Transfer of Balanc• at 31 funds March 2023 Balance at 1 April 2022 Archives Teslbed project Weston Loan programme with Art Fund Benji Rebd photograph 4,739 5,075 19621 8,852 6,930 1,843 8,930 (1,843) 4,739 13,848 12,805) 15.782 Movement in funds ID¢ome Expendlture Transfer of Balance at 31 nds Mar¢h 2022 Prlor year Balance at 1 April 2021 Archives Testbed project 4.821 1821 4,739 4,821 1821 4,739 Archlves Testbod project Funds to facilitate an ileialion of the Museum's innovattve 'Change Minds Online. crow&sOurd research project. Weston Loan programme wlth Art Fund Grant re¢eiv8d for the museum to borrow rnajor works of art from national collections. Benji Reid photograph Grant received for the purchase ofthe pholograph"Holding Onto Daddy" by Benji Reid. 15-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Unrestricted fund8 The income funds of the charity include the following designated funds which have been set aside of unrestricted funds by the Trustees for specific PUTposes'. Movement in fundts Income Expenditure Balanc? at 1 April 2022 Transfèr of Balancè at 31 furEds iarch 2023 Development Fund General Fund 178,244 228,873 145,863) 1459,593) 132,381 240.4D8 471.128 407,117 471.128 1505,456) 372,789 Movement in fvnd$ Income Expenditure Balance at 1 April 2021 Tran$fvr of Balan¢¢ at 31 fund$ Morch 2022 Dèvèlopment Fund General Fund 224,107 181,078 145.8631 (467,6451 178.244 228,873 515.440 405,185 515,440 (513,5081 407,117 The Development Fund has been established and bullt up over a numb8r of years to support the rèlocation and development of the Museum. This fund absorbs the depreciation charged on assets caprtalised as a rèsult of the move lo the charity's premises. Reseryes for 10°h of the ¢osls of the redevelOprnt of the Museum's perrnanent exhibition $pac& will be covered by this fund in the fijlure. 16 Cash generated from operations 2023 2022 (Dèfidtllsurpus for the year 123,2851 1,850 Adjuslmenls for.. Investment income recognised In stslement of finanaal actwilies Oeprecialion and impaimient ol tangible fixed assets 12,7481 48,717 {1,304) 48,426 ovements in working rApilal'. {Incieaselld8crease in debtors ([)e¢ase}/InCfease in creilitors 15,1591 12741 3,787 662 Cash 9on•ratad from operationy 17,251 51,421 16-
THE BETHLEM ART AND HISTORY COLLECTIONS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Non-inclu$l¢n of h&ritsgè assèts In the balance sheot In the opinion of the Trustees. reliable Information on rx)st or value is not available for the charty's colle(aion of aOrk and ancillary items. Further details of this ¢olle¢b"on can be found in the objectives of the charity on page 2. This is owing to Ihg lack of comparable rnarkel values, the diverse nature of the objects and the volume of items held. In the Ttustees, opinion. conventional valuation approaches lack sufficient reliability and any valuation is likely lo ineur significant cost and time commhmenl that is likety to be onerous. Even if valuations could be obtained, the cost would not be commensurate with any benefts to the charity's management, the public, or usèrs of the rinancial slatamènts. For the above reasons, the collections. large proportions of which were gffted to the charity at no ctsyl and are incomparable in n8tur6. are not cogniSed as assets in the charity's balance sheet. 18 Commitmonts and confjngent liabilitie5 The total of grants received to assist ttt the original purchase of histori1 obje¢ls. and which would potentially be repayable should the charity ede to dispose ol the objects, was £154,305 al 31 March 2023 (2022.. £154.3QS). In the opinion of the Trustees, the possibilty of this liability crystallising 15 remote. 19 Relatsd party transactlons Transactlons With related partles During the year. the d)arty entered into the following transalOnS with related parties.. Ms J Smart. the Finance Officer and a trustee of the tharty, received £4,0 in the year under revlew {2022: £4,000) for accounting services. At the year enij. no amounts were outstanding. 17-