Charity registration number. 1190620 Chard & District Museum Annual Report and Financial Statements ft)r the Year Ended 31 March 2025 WESTCOTTS ¢HARTEaED ACCOUNTANT & BUSINESS ADVISEAS
Chard & District Museum Contents (continued Reference 8nd Adminislralive Details Trustees, Report 2to6 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes lo the Financial Slalements 1010 19
Chard & District Museum Reforence and Administrativ• Details Chaimian Dr H Bailey Trustee8 MrVALean Dr H Bai18y qls E PJTn Mrs S Dowell MISS C Rlchter Mr D Tucker Mr C Hussey 1190620 Charlty Reglstratlon Numbor Prlncipal Office Godworthy House Hlgh Street Chard Sornerset TA20 1QB Thcrfnas Sluckey FCCA Westo)tts {SW) LLP Tirrt)8rfy South Street A¥minster D8von EX13 SAD Page 1
Chard & District Museum Trustees. Report The trustees present the annual reporl tcoelhor with Ihe financial stalements of the Charity for the year ende(131 Ma¥¢h 2025. Objectlvey and actlvltles ObJts and alm$ The charitys objects are.. Al The advan¢8m?nt of education, learning an(1 krledge by the provision and maintenance of a public museum in Godworthy House in the town of Chard or such other building or buildings as may from time to lime be acquired by the Clo-, Bl The collection. preservation and exhtbilion in svch building of artefacts, piclures, maps. letters, documents and other items of historical, geographical or geolo9ical interest relating to the history. geogrdphy and geology of Chard and its surrounding district. The Iruslees consider that throughout the pèriod 8ndad 31 March 2025 the charity has undertaken activities and projects in order to continue to successfully fulfil ils charttable objectives. Publlc beneflt The charity operal&s a rnus8um and as such considers itself to be a public benefit entity. The trustees confirm that they have complied wilh Ihe requirernents of section 17 of the Charitles Act 2011 to have due regaré lo the public benefrt guidance published by the Charty Commission for En918nd and Wales. Flnanclal revlew During the year the charity received income totalling £16,199 of which £4.049 w8s reslricte(l and incurred expenditure of £37,026 of which £17,881 was restricted. As at 31 March 2025, the charitable Company had restricted funds of 49.091 {2024 - £51,791) and unrestricted fund5 of £86,458 12024 £104,585). Policy on TpseNes 11 is the charitys ambition lo hold reserves that allow the charity lo fulfil both short-temi operational objectives and also longer-term strateglc objectives. Ajlhough the charty is not currerbtly in a posllion where it can stete il holds sufficient reserves lo meet all of its ambitions. the trustees are confident that the Current level of reserves would allow tha conlinued operation of the museum for 8 period of 12 months froffl the dale of this report wbth little lo no income. Twstees and officers The trustees and officers serving during the year and since the year end wer8 as follows". Pe2
Chard & District Museum Trustses, Report {¢ontinued) Trustees.. MrVALean Dr H Bailey Mr N Rice {resigned 9 July 20251 Mrs E Pym Mrs S Dowell Mr L Talmage Iresigned g July 20251 Mrs L Johnson-ldan (resigned 9 July 20251 Miss C Richter Mr D Tucker18ppointed 11 Novernber 20241 Mr C Hussey lappoinled 11 November 20241 Chairman.. Dr H Bailey structure, govemance and managoment Nature of governing document The Charity is a Charitable Incorporated Oryanisalion ICIOI. first registered with the Charily Commission on the 29 July 2020. On the 10 November 2021, all funds from the unincorporated charity "Chard and District Museum Icharily number.. 2701861 were transferred lo the CIO, thereby completion of the conversion of the charity to its new legal form. Organlsational stru¢ture, trustee induetlon and training The board of Iruslees, which meet al least quarterly, is responsible for the charity. Trustees are appointed in accordance with the charity's governing documents. New Iruslees are appointed, when necessary, in order for the board lo have the broad range of knowledge and skills necessary to administer the charity effectively. New Iruslees are provided with key documents. training and indudion by existing trustees. Page 3
Chard & District Musaum Trustees, Report (continued) Introduction Chard Museum Is housed in several grade 40 listed buildings. Chard is a small market town located in south Somersel. Ils population is approximately 14287 Icensus 20211. The Museum is situated close lo Chard Town Centre. Godworthy HoLtse is the oldest structure on sile. 11 is a Ihalched stone building, dating from the earfy 16th century. Adjacent lo Godworthy, is The New Inn, an early Victorian public house dating back lo the 1830's. Other Museum buildings include a Victorian skittle alley circa 1850, and a more modem flat roofed Barn constructed in the 1gg0's. Finally, lo the rear of the Bam is a large, grassed paddock area. Chard Museum has been in existence for 55 years,. It is wn by a volunteer Board of Trustees. The Trustees are supported by an enthusiastic group of local volunteers. It celebrates the heritage and stories of Chard, ils residents and the surrounding villages. The Museum holds a collection of over ten thousand artefacls. Distinctive groups of its artef8CtS are of national importance. These include James Gillingham. a pioneer in the development of prosthetics., John Stringfellow, a litlle-known Victorian pioneer who evolved the concept of the flying machine,. Margaret Bondfield who became the lir51 female cabinet minister.. and James Gifford. The Gifford family owned one of 5 Lace Mills in the town. He was 2 leading light in developing X-Ray5. Converting to Charitable Incorporated Organisalion ICIOI in 2020 offered the Trustees the opportunity to buy the leasehold from South Somersel District Council. This purch8se was c()mpleted in April 2022. The Museum ¢onlinue5 to build ils displays and exhibitions programme. Phase 2 of Buildlng the Vision. Resilience through Stories and Spaces identified the importance of widening OLJr displays and exhibition5. The Collection and Display group commilled to the theme of Industry in 2025. In the Barn lemporary exhibits focused on Dening's recalling the heavy engineering Industry in Chard and then, working in partnership with Numalic. a display about the growth of Henry the Vacuum Cleaner. General visitors or wglk-in numbers have not returned to the levels pre-covid. Although neither have our opening times. We have increased the number of groups who visit the Museum. These have included local organisalions including the U3A, Chard Inner Wheel, and the Membury History Group. We have also stayed open for 12 months. We aGhieved this by implementing a Tours booking system over the Winter period. Another success has been the development of the school's programme. In the academi¢ year 2021-2022 we welcomed just over 400 pupils. This equated to 16 individual visits. During the academic year 2024-25, we will have weleomed just under 1700 pupils. This equ31es lo an increase 10 68 visits. Our programme has COVed a third of the academic year. This increas8 has not come about thOut challenges. The Trustees are having to explore ways to resource the programme, growth. Page 4
Chard & District Museum Trustees, Report (continued) We ntinUe to actively engage in the Gommunity with our Museum wilhoul Wa115 initiative. We or9ani5ed or allended 38 community programrnes between April lo March 2025. These includèd coordinating the Chard Heritage, Music and Arts Festival al the end of July, severol Chard Revealed promotions and Margaret Bondfield Birthday Bash events. In terms of living and breathing our strap line 'uncovering and maintaining yesterday's heritage, history and Hidden stories, il is suggested that we have had another successful year. However, this has not come wilhoul challenges. As Trustees and ctslleague5, we do have sorne serious questions lo reflect on. We must look al our volunteer recruilmenl programrne. This is a question facing all community organisalions and not unique lo the Museum. We need to be more analytical in deciding what are our museum priorities. Vve do tend lo take on loo much. If or when we ale successful in our Building the Vision bid delivering those deliverables will have a huge impact on our workload. 2024-25 saw the completion of Phase 2 of 50 Years and Beyond." Building Resilience through Stories and Spaees. These were Ixjth delivered through funding from National Lottery Heritage Fund (NLHF) This funding enabled us lo employ a series of independent heritage specialists to help guide us 10 deliver both projects and plan for the future. The Stories projeel gave us a clearer understanding of how the people of Chard view the Museum and how they want us lo evolve in the future. This was achieved through a series of creative workshops and face lo face discussions with, for example schools. community organisalions and infm5tructure organisalions. As a result, the Museum re-wrote ils three-year Business plan and are aligning this with our Strategic Business Objectives12025-20281. The sPas project delivered a report on the historical significance of our Grade 2 listed buildings. This report researched the building'5 history back to the early 16th Century. This is essential in SUPPOrting us lo meet planning requirements through Somerset Council. 11 facililaled the Museum lo submit a pre-planning application to develop the Museums Vision for the Future. 11 also produced an architecture feasibility study delivering a vision of how the Museum galleries and buildings could evolve in the future. The focus of this study wa5 to enable us to become a more effective and economically sustainable museum and community building. As a result of the work undertaken in 2024-25 and moving into the later part of 2025 and early 2026 we were successful in a grant application lo commission a security audit. The audit is scheduled to lake place in August 2025. The Museum 15 olso applying lo South Wesl Museum Development to partieipale in an Organisalion Health Check process. This will upgrade a previous ileralion completed in 2022. If our bid is successful, this should be completed in January 2026. Further the Museum has applied lo participate in Volunteering Fil for the Future. The six-monlh programme, starting in December 2025 will support us to con501idate and upgrade our Volunteer Recruitrnent and Management systems. Page 5
Chard & District Museum Trustees, Report (continued) Statement of Trustees. Responsibilities The trustees are responsible for preparing the trustees, report and the financial slalements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practsl and applicable law and regulations. The law applicable lo charities requires the Iruslees lo prepare financial statements lor each financial year which give a true and fair view of the state of affairs ol IhÉ charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial 51akments, the Iruslees are required lo". select suitable accounting policies and then apply them consistently.. obseNe the rnelhods and principles in the Charities SORP; make judgements and eslimales that are reasonable Ènd prudent., stale whether applicable accounting standards have been lollowed, subject lo any material departures disclosed and explained in the financi81 statements., and prepare the financial 51alemenls on the going concern basis unless il is inappropriate lo presume Ihal the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the linancial position of the charity and enable them lo ensure that the financial slalemenls comply wth the ChaTilies Act 2011, the Charities IAccounts and Reports) Regulations 2008, and the provisions of the conslilution. The Iruslees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corpoffjle and financial information included on the charilable company's website. Legislation goveming the preparation and dissemination of financial slalemenls may differ from legislatson in other jurisdictions. The annual report was approved by the trustees of the charity on .?.3.-01-.26. and signed on ils behalf by.. DrH Chai Bailey man and Iruslee Page 6
Chard & District Museum Independent Examiner's Report to the trustees of Chard & District Museum I report to the trustees on my examination of the accounts of Chard & District Museum for the period ended 31 March 2025. Responslbllities and basls of report As the charity Iruslees of Chard & District Museum you are responsible for the preparation of the accounts in accordance with the fftquirements of the Charities Act 2011 1.the Acl'l. I report in respect of my examination of the Chard & District Museum'5 ¥ccounls carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 14515llbl of the Act. Indepgndent examlner's Statement I have completed my examination. I confimi that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. 1. accounting records were not kept in respect of Chard & District Museum as required by section 130 of the Act., or 2. the accounts do not accord with those records." Dr 3. the accounts do not comply with the accounting requirements concerning the form ?nd content ol accounts Sel out in the Charities (Aecounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. I have no GonGerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the aocount5 to be reached. Thomas Sluckey FCCA Westcotts (SWI LLP Timberly South Street Axminsler Devon EX13 SAD Dale.. ..a6./6A/2g2è.. Page 7
Chard & District Museum Statement of Financial Activities for the Year Ended 31 March 2025 Unrestricted funds Restricted funds Total 2025 Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Investment income other income 6.000 4,466 1,684 4,049 10,049 4.466 1,684 79,673 4,823 541 Total income 12,150 4,049 16,199 86,168 Expenditure on: Raising funds Charitable activities 13891 118,756 13891 36,637 1306) 64,7561 17,881 Total expenditure 19,145 17,881 37,026 65,062 Nel lexpenditurellincome Gross transfers beeen funds 16,9951 113,8321 120,8271 21,106 11,132 11,132 Nel movement in funds 118,127} 12,7001 {20,8271 21,1( Reconciliation of funds Total funds brought forward Total fvnds carried forward ie 104,585 51,791 156,376 135,270 86,458 49,091 135,549 156,376 All of the charity's activib'es derive from continuing operations during the above tsvo periods. The funds breakdown for 2024 is shown in note 16. The notes on pages 10 to 19 form an integral part of these financial slalements. Page 8
Chard & District Museum (Registration number: 1190620) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tgngible assets 12 90,563 91.204 Current assets Stocks Cash al bank and in hand 13 14 402 45,905 46,307 589 68,201 68,790 3,618 CredStors: Amounts falllng due wlthln one year Net current assets 15 1.321 44,986 65,172 156, 376 Net assets 135,549 Funds of the Charity: Restrlcted income funds Resliicled funds 49.091 51,791 Unrestrlcted income funds Unreslriclgd funds 86.458 104,585 Total funds 16 135,549 156,376 The financial 5talemenls on pages 8 10 19 were approved by the trustees, and authorised for issue on a3101./i.&.. and signed on their behalf by.. Dr Chair ail&y an and trustee The notes on pages 10 to 19 form an integral part ol these financial statements. Page 9
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 1 Aecounting policigs statement of compliance The linanGial slalemenls have been prepared in accordance with the second edition of the Charities Slalement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and the Charities Act 2011. Basis of preparation Chard & District Museum meets the definition of a publi¢ benefit entity under FRS 102. The accounts (financial slatementsl have been prepared under the historical cost eonvenlion with items e0gnised at cost or transaction value unless otherwise slated in the relevant notelsl lo these accounts. Going concern The Iru-tcca ¢on47idor th81 Ihcre 8re no material uncert8intieg 8bout the charity'8 Ability lo continue as a going concern. Judgèments and key sources of estimation uncertainty The preparation of the financial slatemenls iequires management lo make judgements, estimates and assumptlon that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experien¢e and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Accounting eslirnates an(J assumptions are made concerning the future and, by their nature. will rarely equal the olated actual outGome. Income and endowments Voluntary inctsme including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has enlillement lo the income. il is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is prob8ble and the amount can be reliably measured. Grants reeelvable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions a allached to the grant and are yel lo be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Glftaid Incoming resources from tax reclaims are included in the Statement of Financial Activities al the same lime as the gift lo which they relate. Investment Income Bank interest is recognised once il has been received. Page 10
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Expenditure All expenditure is recognised once there is a legal or conslruclive obligation lo that expenditure, il is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly atlribuled to parhcular headings they have been allocated on a basis consistent with the use ol resources, with central staff costs allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asseys use. Other support costs 8re allocated based on the spread of staff costs. Ralsing funds These are costs incurred in attracting voluntary income, the management of investment5 and those incurred in trading activities that raise funds. Charitable actiTViti6s Charitable expenditure Comprises those costs incurred by the charity in the delivery of ils activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those c05t5 of an indirect nature necessary lo support them. Support costs Support costs include central functions and have been 8lloealed to activity cost categories on a basis consislenl with the use of resources, for example, allocating property costs by floor areas, or per capila, staff costs by the time spent and other costs by thèir u$age. Government grants Government grants are recognised based on the accrual model and are measured al the fair value of the asset received or receivable. Grant5 are classified as relating either to revenue or to assets. Gran15 relating to revenue are recogni5ed in income over the period in which the related costs are recognised. Grants relating lo assets are recognised over the expected useful life of the asset. Where part of a giant relating lo an asset is deferred. it is recognised as deferred income. Taxation The charity is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempl from taxation in respect of income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to ¢harilable purposes. Tanglble fixed assets Individual fixed a55els costing £100.00 or more a initially recorded at cost. Depreeiation and amortlsation Depieciation is provided on tangible fixed assets so as to write off the cost or valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Asset class Buildings Depreclatlon method and rate Over 25 years straight line Page11
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued Stock Stock is valued at the lower of cosl and estimated selling price less costs lo complete and sell, after due regard for obsolete and glow moving stocks. Cost is determined using the firsl-in. firsl-out IFIFOI. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily converb'ble to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unreslricled income funds are genefftl funds that are available for use al the Iruslees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted ftjnds sel aside for specific purposes al the discretion of the Iruslees. Reslricled income funds are those donated for use in a particular area or for specific Purposes, the use ol which is restricted to that area or purpose. Financial instruments Classrfication Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions ol the inslrumenl. Financial liabilities and equity instrumÈnls are classified according to the substance of the contractual arrangements entered into. An equity instrument Is any contract that evidences a residual interest in the assets of the charity after deducting all of ils liabilities. Recognltlon and measurement All financial assets and liabilities are initially measured at transaction price {inc5uding transaction costs), except for those financial assets classified as at fair value through profit or 1055, which are initially measured at fair value (which is normally the transaction price excluding transaction coslsl. unless th8 arrangement conslilules a fi'nancing tran58Glion. If an arrangement constilules a financing transaction, the financial asset or financial liability is measured al the present value of the future payments discounted al a market rate of interest for a sirnilar debt instrument. Financial assets and liabilities are only offset in the slalement of financial position when, and only when there exists a legally enforceable right to sel off the recognised amounts and the charity intends either to sellle on a nel basis. or lo realise the asset and setde the liability simultaneou51y. Financial assets are derecognised when and only when al the contractual rights lo the cash flows from the financial asset expire or are settled. bl the charity transfers lo another party substantially all of the risks and rewards of ownership of the financial asset, or cl the charity, despite having retained some. but not all, signifi'cant risks and rewards of ownership, has transferred control of the asset lo another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 12
Chard & District Museum Notes to the Flnancial Statements for the Year Ended 31 March 2025 (continued Falr value measurement The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstance5 or a 51gnificanl lapse of time since the transaction look place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 2 Ineome from donations and legacies Unrestrictgd funds General Restricted funds Totsl 2025 Donations and legacies., Donations from individuals Grants, including capit81 gr8nl$', Government grants Grants fiom other charities Other income from donations and legacies 3,897 3.897 1,000 1,000 4,049 1,103 10,049 4,049 1,103 6.000 4,049 Unrestricted funds Genoral Restrlcted funds Total 2024 Donatlons and legacies Appeals and donations Grants, including capital grants.. Government grants Grants frorn other charities Other income from donations and legacies 5.585 5.58S 14,335 650 1,506 14,335 58,247 1.506 57,597 22,076 57,597 79,673 3 Income from charitable activities Unrestrlcted funds General Total 2025 Admissions Shop sales Talks and research 3,706 297 463 3,706 297 463 4,466 4,466 Page 13
Chard & District Museum Notes to the Financial Statements for tha Year Ended 31 March 2025 Icontinued) Unrestrlcted funds General Total 2024 Admissions Shop sales Talks and research 3.182 398 1,243 3,182 398 1,243 4,823 4,823 4 Investment income Unrestricted fund5 GoneTal Total 2025 Interest receivable and similar income.. Interest receivable on bank deposits 1.684 1,684 1,884 1,684 Unrestrlcted funds Genoral Total 2024 Interest receivable and similar income; Interest receivable on bank deposits 1.131 1,131 1.131 1,131 5 Other Income Unrestricted funds General Total 2025 Total 2024 Business rates rebate 541 541 Page 14
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 6 Expendlture on raising funds al Costs of tradlng activities Unrestricted funds General Total 2025 Note Costs of goods sold 389 389 389 389 Unrestricted funds General Total 2024 Note Costs of goods sold 306 306 306 306 7 Expenditure on charltable activitigs Unrestriclod funds General Restricted funds Total 2025 Note Running of Museum and building Aclivitses and exhibition costs Support costs Allocated support costs 11,719 5,239 1,697 101 200 17,681 11,919 22,920 1,697 101 18,756 17,881 36.637 Unrgstricted funds General Restricted funds Total 2024 Note Running of Museum and building Activities and exhibition costs Support Gosls 20,397 5,970 2,627 3,065 32.697 23,482 38,667 2.627 28,994 35,762 64,756 Page 15
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued 8 Net incomingloutgoing resources Net loutgoingllincoming resources for the year include.. 2025 2024 Depreciation of fixed assets 101 9 Tru8tee8 remuneration and expenses No Iruslees, nor any persons connected with them. have received any remuneration from the charity during the year. No tru51ees have received any other benefits from the charity during the year. 10 Staff costs The average head count of employees during the year was Nil12024 - Nill. No employee received emoluments of more than £60,000 during the year12024 Nil). 11 Independent examlnerfs remuneration 2025 2024 Examination Of the financial statements 555 516 12 Tangible fixed assets Furnituro and equlpment Land and buildlngs Thatching Total Cost At 1 April 2024 Additions 51,536 14,535 26,180 77,716 15.042 507 At 31 March 2025 66,071 507 26,180 92.758 DeprÈeiation At 1 April 2024 Charge for the year At 31 March 2025 1,047 1.047 1,047 1,148 101 101 2,195 Net book value Al 31 March 2025 66,071 406 24.086 90.563 At 31 March 2024 51,53S Pagg 16 25.133 76,669
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 13 Stock 2025 2024 Stocks 402 589 14 Cash and cash equlvalents 2025 2024 Cash or¢ hand Cash at bank 6S 45,840 65 68,136 68,201 12,456 45.905 Bank overdraft5 Cash and cash equivalents in 51alement of cash flow5 45,905 65.745 15 Credltors: amounts falling due within one year 2025 2024 Bank overdrafts Accruals 2,456 1,162 3,618 1,321 1,321 16 Fund$ Balance at 1 Aprll 2024 Balance at 31 March 2025 Incomlng Resources rèsources expended Transfer Unrestricted funds General General Fund5 84,541 12,150 119,1451 (11,1321 66.414 Designated Designated Funds Total unrestrlcted funds 20,044 20,044 104,585 12,150 19,145 {11.1321 86,458 Page 17
Chard & District Museum Notes to the Financial Statemènts for the Year Ended 31 March 2025 (continued) Balance at 1 April 2024 Balanee at 31 March 2025 Incoming Resources resources expended Transfers Re$trietèd funds John Slringfellow bequest Claik Found81ion Thatching Archileclural Heritage Fund NHLF Funded - 50 years and beyond stories 29,956 29.956 4,800 12001 4,600 14.535 14,535 2,500 51.791 17,681 17.881) 11,132 11,132 4,049 49,091 Total funds 156.376 16,199 137,0261 135,549 Balance at 1 January 2023 Balance at 31 March 2024 Incomlng resources Resources expended Unrestricted funds General General Funds 85,270 28,571 129,300) 84.541 Deslgnated Designated Funds 20,044 20.044 Total unrestricted funds 105,314 28,571 129.3001 104,585 Restricted funds John Slringfellow bequest Clark Foundation - Thatching Archileclural Heritage Fund NHLF Funded- 50 years and beyond storie5 29,956 29,956 4,800 14.535 5,000 17,400 12001 {2,8651 35,197 57,597 32.697 2,500 29,956 35,762 51,791 Total funds 135,270 86,168 65,062 156,376 Page 18
Chard & District Museum Notes to the Financial Statements for the Year Ended 31 March 2025 (continued} The specific purposes for which the funds are lo be applied are as follows.. John Slringfellow bequest.. Sn 1998. the museum was kindly left a bequest by the great grandrjaughter of John Slringfellow. This restricted fund can be used for any purpose in connecb'on with the life and work of John Stringfellow. Clark Foundation Thatching.. A restricted fund eonlribuling towards the capital costs of re-lhatching the museum building. Archileclural Heritage Fund.. Capital and VenUe grant awarded in ¢onneelion with improvements lo the museum building. This is ongoing and the capital costs can be seen within assets under conslruclion. NHLF Funded 50 Years and beyond stories project.. Kindly supported by the National Heritage Lollery fund. This is a large ongoing project to support the development of the museum, allowing increased engagement and making the museum a viable organi5alion for years lo come. 17 Analysi5 of net assets between funds Unrestricted funds General Total funds at 31 March 2025 Re8trTCted funds Tangible fixed assets Current assets Current liabilities 71,428 16,351 11,321 19,135 29.956 90,563 46,307 {1,3211 135,549 Total net assets 86,458 49,091 Unrestrlcted funds General Total funds at 31 March 2024 Re5tri¢tpd fund5 Tangible fixed assets Current assets Current liabilities 71.869 36,334 3,618 19,335 32,456 91,204 68,790 13,6181 156,376 Total net assets 104,586 51,791 18 Related party transactions There were no related party transactions in the year {2024.' £Nill. Page 19