Charlty ￿l$trati￿ number.. 1190620 Chard & District Museum Annual Report and Financial Ststements for the p8ri0d from 1 J*)uary 2023 to 31 March 2024 WESTCOTTS CHAft7ERED ACCOUtr4TAN¥S * BUSIIIES5 ADVISER5 Chard & Dl8trlct Mu8eum Contsnts Icontlnued) Referenc* Administrative Details Trustees, Re￿rt 2to7 IndepeTvJent Examinets Rewt Statement of Financid Activities Balance SIR 10 Notes to the FIn￿¢1￿ statements 11to21 Chard & Distrlct Museurn Reference and Adminislratlve Detslls Chair Or H Bailey Trustees Mr V Lean Mr N Rice Mrs E Pym Mrs S Dowell Mr L Talmage MTS L Johnson-ldan Miss Claire Richter Charlty Registratlon Numb•r 1190620 Prlnclpal oifice Godworthy house High Street Chard Sofflerset TA20 1QB Independent Examiner Thomas Stuckey FCCA Westcotts (SW) LLP Timbedy South Street Axmin51er Devon EX13 SAD Page 1 Chard & District Museum Trustees. Report The Truslees present the Annual Report tcgether with the FinanGial Stslements of the Charity for the period ended 31 March 2024. Objectives and actlvltles Objects and aims The Charitys objects are: Al The advancement of education, leaming and knowledge by the prowsion and maintenance of a public Museum in Godworthy House in the town of Chard or such other building or buildings as may from lime to tirne be acquired by the CIO., Bl The collection. preservation and exhibition in such building of artefacls, pictures, maps. letters, documents and other iterns of historical. geographical or geologi&31 interest relatirbg ￿ the history, geography and geology of Chard and its SUTTounding district. The Twstees consider that throughout the period ended 31 March 2024 the Charity has undertaken activities and projects in order to continue lo successfulty fulfil its charitsble objeclive5. Public benefit The Chanty operates a museum and as such con91ders itselflo be a public benefit entty. The Trustees confim7 that they have complied with the requirements af Section 17 of the Chariknes Act 2011 to have due regard to the public b8nefit guidance published by the Chanty Commission for England and Wales. Achievements and perfomiance The Charity continued to work hard throughout the year to effectively run the Museum as a public attraction within the town. The Museum has strong links with local schools and other local organisations. The Museum conlinues to create new exhibitions. preserve artefacts and research rts existing collections. Having developed a Resilience Strategy last year, the Museum has implemented the foll¢￿Ing grant fvnded projects during the year. Securing grants of £19.400 from the Architectural Heritage Fund and £39,108 from the National Lottery Heritage Fund enabled the tha￿ty to tommente Chard Museum 50 years and Beyond- Stories and Spaces Project In January 2023. The strands tsf the project focussed on Improving resilience with the ald of an extemal consultant by rewewng tyjr Business Plan and Strategic Business Objectives. Employing a Herttage Archltect to develop the intemal and extemal spaces of the Museum. Employlng an Audience Engagement SpeeialSst to work wrth both community and visitors lo produce an analysis of current and future audiences. The project end date is March 2025. Funding from AislrKic England enabled the Museum lo put on a series of events high1￿jh1lng the heritage and social history of the town of Chard. These included photographic displays, exhibitions, towrb walks & talks on how the t(Avn evolved. In 2022 Chard Museum became a Consortium Member in the Culturally Chard Project. The airn of th8 project was to t￿.ng together the diverse communities of Chard. The Museum was involved in several events around the town, six of which were organised and held in the Museum grounds. Throughout the period the Museum has continued to build rela￿onshIpS wlh both primary and secondary schoo15 in Chard and its surrounding villages. We continue to work on aim to become a "Museum wthout Walls (our temi for davekylng a vlrtual museum), Over the period we have devek)peé our website and social media Se￿iceS to announee details of our events lo the community, update th@m with the progress of our projects and Infomi them of the fasunaling town stories we have uncovered through our research. Page 2 Financial revlew During th8 period the Charity r8c8ived income totalling £86,168 of whlch £57,597 was restricted and incurred expenditure of £65,062 of which £35.762 was restricted. A5 at 31 March 2024, the Charitable Company had restricted funds of £51,791 {2022- £29,956) and unrestricted funds of £104,58512022 £105,314). Policy on r•seThes It is the Charltys ambition to hold reserves that allow the charity to fulfil both its short-term operational objectives and also longer4erm strategic objeclives. Although the charity is not currently in a position where it can stste it holds sufficient reserves to meet all of its ambitions, the Trustees are confident that the ￿Tren1 level of reserves would allow the continuing operation of the 'Museum for a period of 12 months from the dale of this report with litue lo no income. Page 3 Chard & District Museum Trustees. Report (contlnued) Plans for future poriods Aims and key obJ8ctlv•s lor I￿￿re periods In order lo deliver the Aims and Objectives of the Charity. the Trustees are Wofklng wlth trte National Heritsge Lottery Fund. olher grant providers and exlemal ¢onsuliants to realise the Museum's follow-on project to"ChaTd Museum 50 years and Beyond - Building ￿$111enCe through Stories and Spac8s" called "Building the Vision. it will use the activities and conclusions from 'Stories and Spaces" to focus again on resilience and diversity. develop the Museum's oulread7 and cary out a Collection RevieY4. This wll allow us to discover more fascinating stories linked to our Collection. 'Building the Vision. is planned lo be a tsvo-year project starting in late 2025. Structure. Govemance and Manag•m¢nt Nature of Governing document The Charity is a Charilable Incorporaled CkganisatKffl ICIOI. It was first registered wlth the Charfty Commission on 29 July 2020. On 10 November 2021, all funds from the unincorporated charity 'Chard and District Museum" {Charily Number.. 270186) were transferred to the CIO, thereby completlon of the converslon of the Charity lo its new legal f￿m. Organisatlonal SlnKture, Trustso Indu¢tlons and Training The Board of Trustees, whiGh rneet al least quarterly. is re5pon5itle for the Charity. Trustees are appointed in accordance the Charity's Governing documents. New Trustees are appointed, when necessary, in order for the board to have the broad range of knowledge and skills necessary to administer the charity effectively. New Trustees are provided with key docurnent5, training and induction by existing Twstees. Page4 Chard & Dlstrict Museum Trustees. Report (contlnued) The Museum - 8rfnglng to Life the Story of Chard Chard Museum exists to help today's community uncover and maintain yesterday's heritage. his and hidden stories. It is a small local museum based in Chard, Somerset. It opened in 1970. It is housed in a Gonverted 16th century Ihalched, listed building. It was originally four cottages. Later il incorporated the building next door which had been the New Inn public house. The Skittle Alley from the New Inn shows an extensive display of tools used by craftsmen in earfier limes. The basis of the Collection dales from around 1880 when Arthur Hull. one of the Chard Five notable people, e()Ilected "curiositses". He left Ihese to the Town and in 1917 they were transferred lo th8 Museum of Somerset in TauntC￿. They returned to the new Museum in 1970. Exhibits in the Museuffl tell the story of the town and the l¢)cal area induding geology. the fire of 1577, the Monmouth Rebellion, IC￿al lace. the La￿ Riots and the rise and fall of industrial Chard. Outside there is a blacksmith's forge and display of fami machinery. Much of which was made by local firm Denings of Chard. TheTe are significant displays on notsble people ￿th conneclions to the town. This inclLFdes John Stringfellow. who with anolher local man, Williarn Samuel Henson, achieved the first powered flight in 1848 in a disused lace factory. with a 10-foot13ml. sl8am4riven flying machine. James Gillingham pioneered the development of articulated artificial limbs. After working as 8 shoemaker in the town and seeing a man who had his ann so badly shattered in an accidental explosion of a cannon thal it had to be amputated to the shoulder sockeL In his and his familys lifetime they helped 30.000 people. The museum includes a representat￿On of his COTlSulting room, includlng exarnples of hls artlfiaal limbs. Other notsbles include Margaret Bondfield. She was an English Labour polltician and feminist. She was the first woman Cabinet Minisler119291 in the United Kingdom and a member of the Congregational Church. James Gifford was a talented amateur scientist wth a speaal interest In X4ays and telescope optics. He produced one of the first X-ray of a hand. Chard Museum Exhlblts Clder Room - Sornerset is well known for ils cider heritage and fams would lake great pride in the quality of their cider, often paying their seasonal workers in ciderl In 1877 there were 21,OC)O acres of apple orchards. Recent estirnal&s suggest that thi5 has reduced to about 1,000 acres. Exhibits in the Museum include a horse powered cider mill and a hand powered apple press. Old Kitchen & VlctOTian Classroom - The old kitchen has an edectic c4)Ilection covering several decades. It includes cooking thensils and equipment, a traditional old range. artef8cts for doing laundry and cleaning and a baby's crib. The old School Room is a re-creation of a Victorian classroom. Wisilors leam about what was in the dassroom. the lessons that were taught as well as discipline and punishment. Both displays S￿ popular with older visitors as w811 as young childr8n on school visits Camival Costumes - Somerset camiv81 CArts are often covered in intricate themed designs featuring oving parts and thousands of light bulbs- not to mention the characters, all played by members of local Camival Clubs. The costumes in our unique exhibition corne from the Chard Carnival and are displayed by the Tom5 family. They were designed and hand-made by friends and family for over 4 decades and the famlty change the display every year. Page 5 Knlght's Barn - The Museum'5 most recent building, contains a variety of displays including farm carts and examples of the produds of local engineering firms such as Dening and Co. They made many of the 8gricullural machines on display around the Museum. A lace-making machine used in the Chard lace mills is another prominent feature. Also in the Bam are several examples of the work of Ph08nix Engineering. successors to John Smith. Induéed are a tar-boiler used for Tesurfacing roads. The roof of this building is a product of spa￿ Decks, anolher contemporary Chard engineering fimi. The roof itself is an artefact in the Museum's Collection Skittle Alley- Part of the old New Inn building is the Skittle Alley.11 displays a fomier forge with tollecb.ons of tools used in the traditional work of wheelwrights, blacksmiths and carpenters. p￿e8 Chard & Disirlcl Museum Trustees. Report (contlnued) StatenRnl of Trustees. Responslbllltles The Iruslees are responsible for preparing the trustees, rewrt tho Ilnanclai stalements in accordance with the United Klngdom Accounting Standards (United KiThJdom Gener￿{Y Accepted Accounting Practice} and applicable law and regulations. The law appllcable lo charitie5 requires the trustees to prepare financial statements for each financial period which give a true and fair view of the slate ot attalrs of the chaTrty and ot the incomir resources and appllcalion of resources of the charily for Ihal perk)d. In preparing these linanci statemenls, the Iru5tees are 18quired lo.. selecl suitable accounting pjlicies arKI ihen apply Ihem consi8tently,' obseNe Ihe methods and principles in the Charities SORP. make Jth*Jements arKI estimates Ihat are reasonable and prudent; state whether applicab￿ accounllng Standards have been followed. subject to any material departures disclosed and explained in the financ￿￿ stalemenls,. and prepare the financid statements on Ihe goirvJ concern basis uni&ss it is inappropriate lo presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial slaternents C¢)m￿Y with the Charities Act 2011, the Charitles (Accounts and Reports) Regulations 2008, and the provlsiolls of the constitution. The I￿steeS are also responsible lor safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. The Iruslees are resFXsnsible for the rnaintenance and integrity of the corwrale and flnancial inlormalion included on Ihe charitable company's website. Legislation governing preparation and disseminatlon ol financial statements may differ from legislation in other jurisdictions. The annLJal rep)rt was approved by the trustees ol the charfty on 27 Jawary 2￿25 and svJned on 6ts behaw by: ward Bailey Page 7 Chard & District Museum Ind6p•nd•nt Examinerfs Report to the trustees of Chard & Dlstrict Museum I rewrt to the trustees on my examination of the accounts of Chard & District Museum for the perlcwj ended 31 March 2024. Responsibililigs and ba$1$ of report As the charity trustees of Chard & Districl Museum you are resp)nsible for the preparation of the counts in accordance wth the requirements of the Charities Act 20111.the Acf). I report in respect of my examinalton of the Chard & District Museum's accounts carried oul under section 145 of the 2011 Act and in carryin9 OLrt my ex8mination I have fcAlowed all the applicable Directions given by the Charity Commisslon under section 14515}(b) of the Act. Ind•pondentoXamino￿S statement I have complet&J my examination. I confirm that no material matters have come to my attention in connection wth the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of Chard & District Museum as requI￿d ty saction 130 of the Acr or 2. the xcounts do not accord wth those records,. or 3. the accounts do Th)t comply the accounting r4uiremenls Con￿rning the fonn and content of a¢wunts *t out in the C￿¢t￿e9 {Accounts and Reports) Regulations 2008 other than any requirement that the &counts give a 'true arKI fair view thich is not a matter con55dered as part of an independent examination. I have no cOn￿rnS and have come no other matters in connection wth the examination to %thich attentlon should be In this report in order to enable a proper understandirs of the accounts to be reache Thomas Sluck8y FCCA Westcotts (SW) LLP Timberty South Street Axminst Devon EX13 SAD 28 j￿Uary 2025 Page 8 Chard & District Museum statsment of Financial Activities forthe Period from 1 January 2023 to 31 March 2024 Unrestrlcted funds Restrittod funds Total 2024 Totsl 2022 Note Incomo and Endowmonts from: Donat￿n5 and legacies Charital￿e activities Investment income Other incune 22,076 4,823 1,131 541 57.597 79,673 4,823 1,131 541 33,505 3.512 714 169 Total income 28,571 57,597 86,168 37,900 Expendlture on: Raising funds Charitable activities Other ext*nditu 13081 {28.994) (3C6) (64,756) (3321 {18,7181 718 135,762) Total expenditure 29,300 35.762 65.C62 119,768 Nel lexpenditureyincome 729 21.835 21,1( 18,132 Net movement in funds (7291 21,835 21.1C6 18.132 Reeonclliation of funds Total funds brought forward 105,314 29,956 135270 117,138 Total funds carried forvérd 17 104,585 51.791 156,376 135.270 l of th• ¢haritVs activities derive fThi continuing operation$ during the above ￿ periods. The funds breakd0V￿ for 2022 is shcwn in note 17. The notes on pages 11 to 21 fomi an integrd part of ihese financk4 statements. Pa9e 9 Chard & District Museum (Reglstration number: 1190620) Balance Sheet as at 31 March 2024 2W24 2022 Not8 Flxed assets Tangible assets 13 91,204 51,536 CurreTrl assets Sio¢ks Cash al bank aTrJ in hand 14 15 895 68,201 68.790 84.814 Credltors: Amounls lalllng due within one year Net ¢urrenl assets 16 3.618 65.172 Nel assets 156,376 135.270 Fund6 Ot the charlty: Re*rlcted Income funds Flestricted funds 51.791 29.956 Unrestrfeted incorne fundg Unrestrkted furKIs 105.314 Total furrfls 17 156,376 135 270 The financial statements on pages 9 10 21 were approved by the trustees. and aulhorised for Issue on 27 January 2025 and signed on their l)ehalf by= DrH B8rt8y The notes on pages 11 to 21 form an integral part of ttrEse fina￿la1 statements. Page 10 Chard & District Museum Notes to the Financial Statements for the Perlod from 1 January 2023 to 31 March 2024 1 A¢¢ountlng poll¢le8 statement of Compllance The Iinancia statements have been prepared In ￿OrdanCe h￿th the second edilicfj of the Charlties Statement of Recommended practi￿ issued in Ocloter 2019, the Financial Reporting Standard appliGable in the United Kingdom and Republic of Ireland (FRS 1021 and the Charities Act 2011. Basls of preparatlon Chard & Oistrict Museum meets the definiticn of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historica cost convention wth items recognised at cost or tr8nsaclion value unless tknerwse staled in the relevant notelsl lo these accounts. Disclosure of l¢ng or short perlod The accounts are prepa￿1 for a perrod of 15 Months to 31 March 2024. As such the comparative figures shown for 12 months ended 31 December 2022 are not directty comparable. Golng concern The trustees consider that there are no material uncertainties abjth the charity's ability to conlinue as going ojncem. Judgements and key •ource8 of estlmation uncertalnty The preparation of the financial statements requires management io makejudgernents, estimates and assumption thal affect the amounts rep)rted. These estimates and judgements are C(￿tinual￿ reVIe￿d and are based on exFerience and other factors, including exFeclations of future events that are believay to be reasonable under the circumstances. Accountin9 estimates and assumpb'ons are made conceming the future and, ty their nature, will rarely oqu41 the related actual ouicorne. Income and endowments Voluntary income includiro donations, gits legacies anrs grants that provide core funding or are of 8 general natuie is recognised ￿en tIE charity has entitlement to the income, it is probable that the income wll be received and the amount Can be measured with suffi¢ient reliability. Donations and legacies Oonalions and legacies are recognised on a receivatle basi5 ￿en receipt is probable and the amount can be reliably measured. Grants recelvable Grants are recognised when the charity has an entitlemerrt to Ihe funds and any condili¢MS linked lo the grants have teen meL Where perfo￿ar￿ conditions are attached lo the grant and are yet to te met, the income 15 reccgnised as a liability and included on the bala￿ce sheet as deferred incc*me to be released. Page 11 Chard & District Museum Notes to the Financial Statemenls for the Period from 1 January 2023 to 31 March 2024 (continued) Glftald Incomiro resour￿ fr(Th tax redaims are included in Stalement of Financial AclivitEs at the same time as the gift lo blthich they relate. Bank interest 15 reGognised once it has been received. Expendlturo All expenditure is rWniS￿ once there is a legal ￿ constructNe Obligatic￿ to that expenditure, it is probable settlement is réquired and the amount can tt measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where ￿sts cannot be directly sttrrbuted to particular headings they have been allocated on a basls con51Stent wth the use of resourc8s, wth central stsff ￿St$ allocated on the basis of time spent, aTrJ depreciation harges allocated on the portion of the asset's use. Other SUPFrf)rt cost5 are allocated based on the spTeaJ of staff Costs. Ralslng lund in which the related costs are reccgnis&J. Grant$ relating to asset$ are rec¢>Jnised over the expected useful life of the asset Where part of a grant relatlng lo an asset is deferred. it is recognised as deferred income. Taxatlon The char¢ty is congdered to pass th8 test5 ¥et out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definib'on of a charitable ¢orDpany for UK corporation tax purposes. Accordingly. the charity is potenti￿lY exempt from taxaticffl in respeGt of income or capiia gains receiv8J within categories cover&1 by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. tr> the extent that such Ir￿Me or gains are applied exclusively to charitable purposes. Page 12 Chard & District Pjluseum Notss to the Financial Statemonts for the Period from 1 January 2023 to 31 March 2024 {continu•dl Tangible fixed assèts Individual f1xed assets costing £1￿.00 or more are initiaiy recorded at Cost, less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. Depreclatlon and amortisation Deprèciation is provided on tangible fixed assets so ss to write off the cost or valuation, less any estimated Tesidual value, over their expected useful economic life as follows.. A88et ¢1• Buildings D•preclation mthod and rate Over 25 years straight line stock Slock is valued at the lower of cost and éstimat8d selling price les5 Cests lo Complete and sell, after due regard forcl)solete and slow moviro stOGk$. Cost is determined using the first-in, first-C%rt (FIFO). Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-lem highly liquid investments that are readily convertib]& to a known amount of cash and are Subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are aVaila￿e for use at th8 Irustees discretion in furtherance of the objectives ot the charity. Designated funds are unrestricted funds Set aside for specific purp05es at the discreticfi of the Iruslees. Restricted income funds are those donated ft)r use in a particul¥ or for Specif￿ purposes, the use of ￿lch is restricted to that are? or purpo*. Financial instrum•nts Classificatlon Fir￿nCIal assets and financial liabilities ￿ recognised when the charity ￿comeS a party to the contractual provisions of the instrument Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual inler8St In the assets of the charity after dedlrling 811 of it3 liabilities. Pago 13 Chard & Di8trlct Museum Notes to the Financlal Ststements for the Perfod from 1 January 2023 to 31 March 2024 (continued) All financid assets and liabilities ar8 initialty measurej at tranwtion price lincludir¥J transaction costs), except for those fin￿¢181 assets Classifi￿ 8$ at fair value through profft or loss. which are initially measured at fair value (which is normally the tiansa¢tion pri￿ excluding transaction costs), unless the arrangement constitutes a finalKI￿ transacti￿. If an ariangement constitutes a financing transaction, the finana31 asw or financial liability 15 measured at the present value of the fLrture payments discounted at a market rate of interest for a similar debt instwment Financial assets and liabilities are only offset In the statement of finan¢ial position when, and only en there exists a legally enforceable right to set off the reccgnised amounts and the charity intends erther to settle on a net bals. or to realise the asset and settle the liability simultaneously. Financial assets are derecwised when and only ￿en al the contractual rights to the cash flows from the fina￿la1 asset ex&yre or are settled, b) the charity transfers to another paty substantially all of the risks and reward5 of ownerghip of the financial asset, or cl the charity, despite havirg retained some, but T¥)t all, significant risks and rewards of own8rship. has transferred control of the asset to another party. Financial liabilities are derecD3nised only when the obligabon Specifi￿ in the contrxt is discharged. cancelled or expires. Falr v￿ue measurernt The best evidencè of fair value is a quoted price for an idents'cal asset in an active market Wh quoted prI￿S are unavailable, the price of a recent transaction foi an identical asset provides evidents of fair value as long as there has not been a significant change in economic circumstance8 or a significant la￿e of time since the transaction took place. If the market is not active and recent transactions of an idents'ca asset on their own are not a good estimate of fair value. the fair value is estimat￿ by using a valuation t￿hnIQUe. 2 Income from donatlons and lèg&les Unrestrictod funds Genèral Total 2024 funds Donations and legacies., Donations frtyn individuals Grants, including cawtsl grants., Govemmenl grants Grants from other ¢harities Other income from thxations legacies 5,585 5,585 14,335 650 14,335 58.247 57.597 22,076 57.597 Pa9e 14 Chard & District Museum Notss to the Financial Statements for the Period from 1 January 2023 to 31 March 2024 Icontlnuad) Unrestrictod funds General Totsl 2022 Donation¥ and109acie5 Appeals and donations LegaC￿S Grants, includir4J capita grants., Govemn)ent grants Grants from crther charities Other income frcm donations and legacies 3,723 12.895 3.723 12,895 7,500 7,500 6.500 2.887 2.887 33,505 33,505 3 Income from charltable aclivitie• Unrestrl¢ted funds General Totsl 2024 AdmlssioD5 SFKp sales Talks and research 3,182 3,182 398 1.243 1,243 4.823 4.823 Unrestricted funds General Total 2022 Admissions Shop sales Talks and research 2,559 627 326 2.559 627 326 3.512 3.512 4 Investment income Unrestrfcted funds General Total 2024 Interest re¢eivable and similw income" Interest receivable on bank depo&ts 1,131 1,131 1,131 Page 15 Chard & Dlstrlct Museum Notss to the Financial Statements for the Period from 1 January 2023 to 31 March 2024 IGontinued Unrestricted funds General Tolal 2022 Interest rLxeivable and %mil* income-, Interest ￿e1va￿e on bank deposits 714 714 714 714 6 Other in¢ome Unrestri¢ted funds General Unrestrictsd funds General Total 2024 Total 2022 Business rate5 rebate 541 541 169 6 Expenditure on ralslng funds a) Costs of tradlng adivllle8 Unrestrlcled funds General Total 2024 Note Cc6ts of goods sdd 306 Unr¢strictgd funds General Total 2022 Not• Costs of gcods sold 332 332 332 332 7 Expendlture on Charilable activitie8 Unrtslricted funds General RoStrictod funds Total 2024 Nola Running of Museum aThJ building ActivitEs and exhibition costs SupF4)rt costs 20,397 5.970 3,1%5 32,697 23,462 38,667 2,627 28.994 35 762 64,756 Page 16 Chard & District Museum Notes to the Financial Statsments fort￿ Perlod from 1 January 2023 to 31 March 2024 (continued) Unrgstrl¢ted funds Gonoral Total 2022 Note Running of Museum and building ActivitEs and exhibition wsts Support Costs 11,337 4.098 3,283 18,718 11.337 4,098 3.283 8 Other expondlture Unrestricted funds General Total 2022 Note Cash for charities Paralympic 268 450 450 718 718 9 Net Incomlngloutgolng resourceg Nfjl incoming res￿urceS for the peri¢)d indude.. 2024 2022 10 Trugtees remunerallon and exponse8 During the period the charity made the foll￿ng transactsons wlth 1rust￿. During the y expenses with a total value of £2S7 ￿ere Teimbursed to four Irustes. No lrnstees, nor any persons ¢onn8cled with them. have received any remunerats'on frcm the charity during the year. No trustee5 have receiv￿1 any other tenefits from the charity duriro the year. 11 Staff c08ts average head count of ￿nplOyeeS during the year Nvas Nil (2022 - Nil). No employee rtteiv8J emoluments of more than £60.000 during the period12022- Nil). Pagé 17 Chard & District Museum Notes to the Financlal Ststements for the Period from 1 January 2023 to 31 March 2024 {continuad 12 Independent •xamingf6 remuneratlon 2024 2022 ExaminaJcn of the financial statements 516 480 13 Tanglble fixed assets Land and buildln under eon8truetion Thatching Total At 1 January 2023 Additions 51,536 51,536 40,715 26,180 14.535 At 31 Ma￿h 2024 51,536 26,180 14.535 92,251 Depreclatlon Cha￿e for the year Al 31 March 2024 1.047 1.047 1,047 Not book value Al 31 March 2024 51,536 25.133 14.535 91204 At 31 December 2022 51.536 51.536 14 Stock 2024 2022 stocks 589 895 15 Cash and cash equlvalents 2024 2022 Cash on hand Cash at bank e5 83,854 83.919 68,136 68,201 Bank ¢werdrafts 456 Cash and cash equivalents in statement of cash flovéE 65,745 Page 18 Chard & District Museum Notes to the Financial Ststements for the Perlod from 1 January 2023 to 31 March 2024 (continued) 16 Croditors: amount8 falling du? wlthin one year 2024 2022 Bank overdrafts Accruals 2.456 1,162 3,618 1.080 17 Funds Balance at 1 January 2023 Balance at 31 March 2024 Incoming resour¢e8 Rèsources •xponded UnrestTi¢ted funds Genernl Ger￿al Funds 85,270 28,571 129.300) 84,541 Deslgnated Designated Funds Total unrestriGtod funds 20.044 20,044 105.314 29 300 104,$85 R•stii¢ted funds John Stringfellow bequest Clark Foundation - Thatching Archltectural Heritage Fund NHLF Funded- 50 year5 and teyond stules 29,956 29,956 5,000 17,400 1200} (2.8651 14,535 35,197 29,956 57,597 35 762 51,791 Total fundg 135,270 86,168 ￿ 1￿.378 Balance at 31 December 2022 Balan¢• at 1 January 2022 In¢omlng Rèsource8 rosour¢os èxpended Transfers Unrestrlcted fund8 General General Funds 52,138 37.900 119,768) 15,000 85,270 Deslgnatod Designated Funds 35,044 Total unrnstrkted fvnd8 87.182 37,900 (19,768) 105.314 Page 19 Chard & District Museum Notes to the Financial statements for the Period from 1 January 2023 to 31 March 2024 (continued) Balance at 31 Docember 2022 Balanee at 1 January Incornlng Re80urces 2022 re80urces expendod Transfe Ro8tri¢tod funds John Stringfellow ￿￿￿e$l 29,956 29.956 Total funds 117,138 37.900 19,768 135,270 The sFecific purposes forwhich the fuT7ds are to be applied are as follow5.. John Slringfellthv bequest.. In 1S98, the mu5oum was ￿'￿IlY left a twuest by the 9￿81 granddaughter of John Stringfellow. This restricted fund can be used for any PLKPOSÉ in COn￿tIon with the life and work of John Stringfello•V. Clark Foundalron - Thatching.. A restricted fund contribjting tovrdrds the Capitsl costs of re-thatching the museum buildir¥J. Archrteclural Heritage Fund.. CaFXtal and revenue grant awdrded in connectlon with improvements to the museum building. This is ongoing arKI the capital wsts can be seen wthin assets under constru¢tion. NHLF Funded 50 Years and beyond stori•s proiecl.. lfjndly SUPFQrted by the Natlonal Heritage Lottery fund. This is a large ongoirrfJ project to support the development of the museum, allowing in¢￿aSed engagemont and makiTrJ the museum a via￿* organisation fcr years to come. 18 Anatysis of net assets between fund8 Unrestrict•d funds Gonordl Total funds at 31 March 2024 Restricted funds Tangible frxed assets Current assets Current liatilits'es 71.869 36,334 3.618 19.335 32.456 91,204 68,790 3,618 Tot81 net assets 104,585 51.791 156,376 Totsl funds at31 Restrlctod December tunds 2022 Unrestrtcted fundB General Tangible fixed assets Current assets Current lia￿.11tieS 51,536 54,858 1,080 51,536 84.814 1,080 135,270 29,958 Total net assets 105 314 29,956 Page 20 Chard & District Museum Notes to the Financial Statements for the Perfod from 1 January 2023 to 31 March 20241contlnued) 19 Rolated party tran8actions There Y+pre no related party tr￿saCtIOnS in the pericxj {2023". £NII). Page 21