|||||||The objects ofthe CIO are: to advance education
for public benefit
in|The objects ofthe CIO are: to advance education
for public benefit
in| |---|---|---|---|---|---|---|---| |||||||particular
but not exclusively
in the archaeology,
natural
history and|| |||||||social history ofthe Borough of Broxbourne,
Herffordshire
as told through|| |||||||its heritage,
landscapes
and stories ofthe people within the Borough|by| |||||||such means as the trustees see fit, including
but not limited to;|| |||||||~ the provision
and maintenance
of a permanent
museum
and|| |Summary||ofthe objects|||ofthe|information
service
in the Borough of Broxbourne;|| |charity|set||out in its|||~the care and curation ofthe museum
collections and holdings;|| |governing|||document|||~ the exhibition
and interpretation
ofthe museum
collections
and holdings|| |||||||and the provision
of public access to them;|| |||||||~ the provision
of learning
experiences
and activities for the education|| |||||||and enjoyment
ofthe public;|| |||||||~the provision
of exhibitions,
conferences,
workshops
and other events;|| |||||||and|| |||||||~ to research,
remote and
ublish studies|| |||||||2022/23 was the first full year ofoperations
for the museum
under the|| |||||||management
ofthe Lowewood
Museum
Trust CIO. The museum
was|| |||||||open every Friday and Saturday
10am to 4:30pm, except for three weeks|| |||||||in January 2023 when
it was closed for cleaning
and redevelopment|of| |||||||two ofthe museum's
galleries. When open,
it is staffed by a team of|| |||||||highly committed
volunteers
supported
by the Trustees and the staff|| |||||||team. Total visits during 2022/23 totalled
5,089 people.|| |||||||During 2022/23 the Trust continued
to develop
its collection, adding|items| |||||||to the collection management
software especially
items from the|| |||||||extensive
photographic
collection.
Highlights
include a Hoddesdon|| |||||||Grammar
School Athletic Cup from 1876,a war damage
survey map|of| |||||||Cheshunt
from 1939-1941,an iron age Belgic pot found
in Wormley|in| |||||||1962and items from the excavation
of Perriers Manor in 1958/59.|| |||||||April saw the end ofthe Voices from the Voluntary
Sector exhibition|| |||||||produced
by the CVS for Broxbourne
and East Herts to record the|| |Summary ofthe main
activities
undertaken
for the
public benefit in relation to
these objects (include within
this section the statutory
declaration
that trustees
have
had regard tothe guidance||||||contributions
ofthe community
and voluntary
sector in Broxbourne
over
the past 50years. This was followed
by Jubilations
and Coronations
which opened
on 30 April and ran until 2 July. This exhibition
documented
how Borough residents
and businesses
had celebrated
Royal occasions over the past 150years. The next exhibition
was Forty
Fascinating
Finds which highlighted
rarities from the museum's
collection.|| |issued
by the Charity
Commission
on public
benefit)||||||The museum
renovated
the Ward gallery
into a temporary
exhibition
space to showcase
items from the museum's
extensive
photographic
collection. The first display
Cura/ed
by t4rorm/ey
opened
on 1 March|2023| |||||||and all ofthe photographs
were chosen and curated
by local residents|| |||||||who provided
information
and memories
at a community
workshop
at|| |||||||Wormley
Community
Centre
in January 2023. A small exhibition|| |||||||highlighting
the work ofthe Seed Harvest
organisation
was displayed|in| |||||||the museum's
cafe as was the work produced
for the 70 Sewn Stories|| |||||||project by youth charity The G//ted to mark the Platinum
Jubilee.|| |||||||The Petter Gallery, the main permanent
exhibition
space, was refreshed|| |||||||in January 2023to showcase other objects from the museum's
collection.|| |||||||New display panels were also installed
telling a wider history ofthe|| |||||||Borough and utilising
photographs
from the collection.|| |||||||Staff and volunteers
photographed,
re packed and stored the framed|art| |||||||works not on display. Thanks to a generous
donation
from Friends of|| |||||||Lowewood,
the Museum
purchased
plastazote
to interleave
between|the| |||||||framed works to protect them|| ## ## ## ## Section D Achievements and performance Section E Financial review ||||||||||Reserves are funds the trust holds as a buffer against future|| |---|---|---|---|---|---|---|---|---|---|---| |Brief statement|||||ofthe||||commitments
(foreseen or otherwise)
that
it would otherwise
not be able|| |charity's||policy|||on||reserves||to meet. These typically
range from 3 —12 months.
In setting our|| ||||||||||reserves
policy we considered.|| ||||||||||Cash-flow: the trust's
ability to meet majority ofcash-flow
volatility|in| ||||||||||6 month
period.|| ||||||||||Contingency:
A Risk Analysis
considered
the potential
financial|| ||||||||||risks and mitigants
with contingency
put in place to cover the most|| ||||||||||challenging
and credible.
For Lowewood,
this is primarily
the risk|of| ||||||||||delays to the Borough Of Broxbourne
Council grant (paid April and|| ||||||||||October) and issues
in accessing
National
Lottery Heritage
Fund|| ||||||||||(NLHF) grants which are paid 3 months
in arrears.|| ||||||||||Closure: Amount
offunds required
to complete
all obligations
and|| ||||||||||close down the charity.|| ||||||||||Given the stability of our primary
funding
source (Borough of Broxbourne|| ||||||||||grant) and the NLHF we have set a minimum
reserves
policy of3 months
of planned
expenditure
(salaries, rates etc) which
is currently f30k. Our
current free reserves
position for the year end isf56k which
is in line with|| ||||||||||our policy although
we expect this to fall over 2023/24
in line with known|| ||||||||||fluctuations
ofexpenditure.|| ||||||||||The NLHF fund is F19.4k in deficit at year end.
This is due to the grant|| |Details ofany||||funds||||materially|funding
being paid
in arrears
(typically 3 months
after the costs were|| |in|deficit||||||||incurred).
The reserves
policy allows for this, and payments
continue|to| ||||||||||be made by NLHF to Lowewood
line with the scheme rules.|| |Further financial||||||review details|||(Optional
information)|| |You may choose to include
additional
information,
where
relevant
about:
~
the charity's
principal|||||||||Financially,
our second year as a Trust has progressed
well and
in line
with expectations.
The "Your Heritage,
Your Museum"
programme
is
fully up and running
and we are successfully
drawing
down funding
from
our 2143k NLHF grant against
it (albeit as the funding
is paid
in arrears
it|| ||sources of||funds (including||||||requires
us to maintain
higher reserve levels to protect our cashflow).|| ||any fundraising);|||||||||| |~|how expenditure
has
supported
the key objectives
ofthe charity;||||||||We have seen some challenges
relating to cost-of-living/inflation
increases
(particularly
utility bills) but have been successful
in applying
for the additional
government
support
from its Energy Intensive
Industries
scheme which applies from April 2023 and so will be helpful to the Trust|| |~|investment|||policy||||and|finances
in the upcoming
financial year,|| ||objectives||including|||||any||| ||ethical investment|||||||policy||| ||adopted.||||||||Income:|| ||||||||||Over the course ofthe financial year the Trust has raised F70.0k.|| ||||||||||This comprised
the F32.1kcore funding
from Borough of Broxbourne|| ||||||||||Council (BBC),with an additional f26.0k drawn
down from our f143k|| ||||||||||NLHF "Your Heritage,
Your Museum" grant.|| ||||||||||We received f3.1k in other grants
including:|| ||||||||||F2k of Herffordshire
County Council Grants from Councillors|| ||||||||||Mark Bishop and Lewis Cocking which we using to extend the|| ||||||||||support ofour part-time
curator.|| ||||||||||f1k Shell Pension
grant which has been put towards
improving|| ||||||||||our
arden and also our
art-time curator.|| ##