Royston Museum Trust CIO TRusfEES' REPORT AND FINANaAL STATEMENTS 3rd November 2021 to 31° March 2023 1611212023 Royston Museurn Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO Contents Reference and Administratrde details... Objectives and Activities.........-..-.. The objects of the CIO are:........-... Main achievements ofthe Charity...... Financial review for the period 3 November 2021 to 31 March 2023.............. Income..............- Expenditure.....-...... Reserves Policy....-..... Structure, Governance and Management.....-..... Constitution.. Methods of appointment or elertion of Trustees.................. Organisational structure and decision-making policies.... Related party relationships.. Plans for future perdS.. Statement of Trustees. responsibilities......-.-.. Balance sheet as at 31S1 MARCH 2023...-........ Statement of Financial ActNtties for the period ending 31" MARCH 2023........ Notes to the Accounts......-........ Independent examiner's report to the Trustees of Royston Museum Trust CIO lkne Charity'l ........ Responsibilities and basis of report.........- Independent examiner's sfatement...... -10 -11 .12 -12 .12 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO Reference and Administrative details Charity name Royston Museum Trust CIO Re8lstered charity number CharW5 prlncipal address 1196386 S Lower King Street. Royston. SG8 SAL Museum Manager Nicky Patoft Curator Sophie Riches Trustees: Appolnted Perfod Nomlnor Ros AIIw¢)od 26111121 3 years Trust Rosemary Bateman Secretary 03111121 3 years RDLHS Elizabeth Beardwell 06106122 3 year5 RTC120221 Brian Bylett Treasurer 03111121 3 year5 RTC John Davison Chair 0311V21 3 years RTC Bindi Jani 06106122 3 years RTC {20221 Martin K22ak 03/llnl 4 years RDLHS lain Legget 03111121 2015122 RTC John Rees 06106122 3 years RTC120221 Phil Smith 03/iini 4 years Friends RDLHS RTC Friends Royston and District Local History Society Royston Town Council Friends of Royston Museum Bankers Uoyds Bank Solicltor5 None Independent ExamlneT5 John D Froggett FAIA The Accountancy Practi 41 High StreeL Royston SG8 9AW 1611212023 Royston Museurn Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO The Trustees present their annual report together WTth the financial statements of the Royston Museum Trust CIO for the period 3 Nov 2021 to 31" March 2023. Note that the Trust was created on 3 November 2021. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the chariVs governing document. the Charities Art 2011 and Accounting and Reporting by Chartties- Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland published Ortober 2019. Objertives and Artivities The objects of the ao are: To advance education for public benefft in particular but not excluslveW in the social history, natural history. archaeology and geology of Royston and its surrounding area in Hertfordshire though it's collertions and other resources by such means as the trustees see fft, but not limited to- the provision and maintenance of a permanent museum in Royston: the acquisition of items for its collection by gift. bequest. purchase or exchange: to borrow and loan artefarts and archives relating to the area: the care and curation of the museum collections and holdings: the exhibition and interpretstion of the museum collettion5 and holdings and provision of public access to them: the provision of learning experien and attNities for the education and enjoyment of the public: the provision of exhibitions. conferences, vmrkshops and other events; to research, promote and publish studies of the area: to collaborate and work in partnership wÈth other organisation5 in the area- to provide an information servio for the publio The trustees have considered the Charity Cornmission's guidante on publit benefft. and they consider that Royston Museum CIO is fulfilling its obligations in this respect by preparing for the reopening of the museum in order to achieve the above objectives. Main achievements of the Charity The Royston fvAuseum Trust C10 was approved by the Charity Commission in November 2021. Following consultstion between Royston Town Council. The Royston and District Local History Society and The Friends of Royston Museum. Royston Town Council determined to divest the museum to the Trust on I" April 2022 under the terms of a SeTvice Level Agreement ISL41- Irs the period up to 31 March 2022. Trustees focussed on setting up the business and financial functions. policies. and procedures necessary to manage and operate the museum and its employees. 1611212023 Royston Museurn Annual Accounts 3 Nov 21 to 31 Mar 23.docK
Royston Museum Trust CIO The Trustees were very pleased to recruit Nicky Paton as Museum Manager and Sophie Riche5 as Curator. The Trust reopened the Museum in June 2022 and has already made a positNe start to rebuilding the reputation and reach of the Museum. Events and exhibitions have been critical in reengagirE the community and the diffent demographic5 Wlthin it attratting new visitors and encouraged the return of existing ones. These included.. Summer'22 - free weekly activities for children during summer holidays September'22- Royston Arts Festival - history tslk. toddler and adult dance workshops, exotic animal handling sessions and fossil hunting. October'22- Halloween artivities in the October half term November'22-"Pickle for Victorf (Fund raising during VIWII December'22- Christmas fete with festrve Wictorian games, crafts and a winter grotto. February'23- Roman artivities in half tenrÈ March'23-"Back to School. (Royston Education history) Including general admission. events. school trips and community groups, 4495 people used the museum service5 between June 2022 to April 2023. The Trust would like to thank Royston Town Council for its donation to cover the core running ¢osts. The museum would not be viable without this. In addition, the Trust Vuld like to thank Royston First Bid. The Brian Racher Trust. Johnson Matthey. IBM, HAMS, Association of Independent Museums IAIMI and members of the public for their grants and donations. The achievements would not have been possible witholrt the hard work of many volunteers who helped with the preparations for the reopening and ongoing management of the collertion. Looking forward, the Trust is very pleased to have reIVed funding from North Herts Distritt 106 monies to create an asSIble toileL a research space and community room by repurposing existing areas. This will allow an increase in the communitvs use of the museum, improve our user experience, expand and improve the ServIS that the museum offers. and enhan the museum's prestige as a entre of education. It will make heritage. Cultu and opportunity more attessible to all. Works are expetted to cornplete in October 2023. 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO Financial review for the period 3 November 2021 to 31 March 2023 Income The majorty of the £172.813 income carne from payments and donations by Royston Town Council. £15,CKJO £91,000 £35.(X)O One off donation from Royston Town Council to cover stsrt-up Costs Annual Donation from Royston Town Council Transfer of Museum and History Society reserves held by Royston Town Council £iO.CK)O Payment from Royston Town Council for management of the Royston Cave The Museum was very actNe in pursuing grants for specTfic projects raising £13.364. Donations from the public raised £2.838. Hirings. events and exhibitions raised £5,611. Expendlture Salaries atcounted for more than half of the Annual Donation from Royston Town Council. Around £10,000 was spent on building works, renovation and addressing H&S i55ues prior to the reopening- Costs were reduced by the generosity of volunteers and Trustees, induding the provision of book keeping and accounting at no charge. Reserves Policy The bulk of the Trusys income comes in the forn of donations from Royston Town Council as defined in the Se1 Level AgreemenL Other sources include modest income from events and exhibitions. fundraising by the Friends of Royston Museum, donations and grants for specffic projetts. Apart from extraordinary Items. the intention is that expenditure will not exceed income in any year. The reserves policy of the Trust is to maintain 6 months worth of general expenditure in liquid reserves. Progress has been made with Reserves now stsnding at £60,010. At present there are no plans that require earmarked reserves. 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.do
Royston Museum Trust CIO Structure. Governan and Management Constitution The Charity is gistered with the Charity Commission number 1196386 and is constituted as charitable Incorporated Organisation. The constitution states that the Chartty should be governed by a body of no less than 2 and no more than 3 appointed trustees and no less than 2 or more than 7 nominated trustees. The Royston Council may appoint 3 nominated trustees, RDLHS may appoint 3 nominated Trustees and the Friends of Royston Museum may appoint l Trustee. Apart from the first trustees. every appointed trustee must be appointed for a term of 3 years. The current number of Trustees is 9 which come about as two of the original Trustees (The Treasurer and Chairl are no longer members of the Council. Methods of appointment or election of Trustees New trustees are selected from people who have the appropri*e skills and resource5 to contribute to the affairs of the charity. Upon appointment. each trustee receives an in-house induction training programme to acquaint them with the rnuseum and its artNities. Organisational strurture and decision-maklng pollaes The trustees meet on a regular basis as required during the year. The day to day management of the museum is delegated tothe Museum Manager. The museum also relies heavi on thetime and effort of volunteer5. Related party relationships None of the Trustees receNed remuneration or other benefits from their work with the charity. There are no related parties under common control, or under the control of the Trust, nor is the Trust under the control of any other party expt under the obligations of the SL Plans for future periods The museum plans to continue wtth a range of activities to meet its principal objectives. The Trusys mission is to redevelop Royston Museum, to create exhibitions and event5 SO that the museum can become a centre for the local community and celebrate the heritage of the Town and its people. 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.(kxx
Royston Museum Trust CIO Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. rÈwrt and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gener311y Accepted Accounting Prartice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which grve a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, induding its income and expenditure. for that period. In preparing these financial statements. the Trustee5 are required to- • select suitable accounting policies and then apply them consistently: observe the methods and principles of the Charities SORP 2019 IFRS 1021: make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards IFRS 1021 have been followed. sub}ect to any material departures disclosed and explained in the financial statements: prepare the financial ststements on the going concern basi5 unless it is inappropriate to presume that the Charity will continue in operation. The Trustees a responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at arry time the financlal position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Trust deed. They 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. Approved by order of the members of the board of Trustees and signed on their behalf by: John Dawson Chair Date 1611212023 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO Balan sheet as at 31# MARCH 2023 Asat 31st March 2023 Fixed A55èts 0040 Fixtures. fittings & Preservation Equipment- Cost 0041 Fixiure5, fittings & Preservation Equipment- Acc'd Dep'n -879 7.565 CurTent Assets 1120 Prepayments I2( Bank Account- CUrnt 1210 Cash 1220 Lloyds Bank- Deposit account 3.288 15.666 53 50,132 69.139 Current Liabilities 2100 Trade Creditors 2101 Creditors- Friends of Royston Museum 2102 Creditors- Royston Town Council.. Cave 2104 Creditors- Sale or return 2110 Accruals 2260 Pension 2304 Museum Suspense- Expenses & Debtt card purchases 97 13 53 15.297 22 331 16.694 Net Current Assets 52A45 Reserv 3100 Reserves as at period end 60,010 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx
Royston Museum Trust CIO Statement of Financial Activities for the period ending 31" MARCH 2023 3rd Nov 2022 to 31st March 2023 4300 Income-Grants 4301 Income- Annual Donations- RTC 4301 Income- Cave Management Fee: RTC 4301 Income- Museum Reserves transfer: RTC 13.365 106.000 10.0 35.0Th) Iir i 4302 Income- Donations: Other 4304 Income - Hirings 4305 Income- Events 4307 Income- Talks 4308 Income- Retail Ishopl 4311 Income- Interest income 4900 Income- Other 2,838 1.230 2,116 590 249 132 1,293 172.813 5302 Retall costs Ishop) 70 Employee Wages and Salaries 7030 Employer's Pension 7095 Recruitment Expenses 7096 Costs- Personnel: Training 7097 Costs- Personnel: Business Travel 7099 Costs- Personnel {otherl 7110 Water Rates 7130 Costs- Premises: Insurance (Landlords building) 7131 Costs- Property: Museum Insurance 7150 Costs- Property: Lease payments 7152 Costs- Property: Maintenance 7153 Costs- Property: Refuse 7154 Costs- Property= Displays and Exhibitions 7155 Costs- Property: Collections Management 7157 Costs- Propeity: Event costs 7159 Costs- Property.. Fire alami and security 7160 Costs- Property: Educ*ion 7162 Costs- Property: Grant Ilncome is in 43) 7200 Electricity 7210 Gas 7500 Printing 7510 Postage and Carriage 7530 Telephone 888 57,120 1.055 122 108 27 225 1,504 2,830 9.645 1,575 2,038 2,267 2,367 2,954 412 2TrJ 1,318 3,500 349 696 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx io
Royston Museum Trust CIO 7540 IT & Internet Charges 7550 Computer & Software 76OJ Legal Fees 7610 Accountancy Fees 7611 Costs- Fees: Athertisins and Marketing 7620 Consultancy & Professional Fees 1,405 533 1.062 1,117 IF- I 7901 Credit card charges 8030 Office Equipment 8040 Depreciation 8200 Office costs 8210 Subscriptions 31 20 879 1,819 379 I123 Surplus for the period to 31st March 2023 60,010 Notes to the Accounts {11 The financial statements have been prepared in compliance with United Kingdom Accounting Stsndards, including Financial Reporting Stsndard 102. which is The Finantial Reporting Standard applicable in the United Kingdom and the Republic of Iland, and the Companies Act 2006. 121 The principal accounting rK&licies applied in the preparation of these consolidated and separate financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Going concern basis: The financial 5tstements a prepared on 3 going concern basis, under the historical cost convention. b. Depreciation policy i. IT equipment- 25% p.a. straight line basis il. Fixtures and Fittings- 15% .a. straight line basis 1611212023 Royston Museum Annu31 Accounts 3 Nov 21 to 31 Mar 23.doGx li
Royston Museum Trust CIO Independent examiner's report to the Trustees of Royston Museum Trust CIO ('the Charity,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31" Marth 2023. Responslbiltties and basis of report Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attentlon in connection with the examination wving me cause to believe: accounting records were not kept in respect of the Company as required by settion 386 of the 2006 Act; or the accounts do not accord wtth those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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- or the accounts have not been prepared in accordance wtth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn In this rewrt in order to enable a proper understanding of the accounts to be reached. Joh DFr ettF he Accountancy Practice 41 High Street Royston Hertfordshire SG8 9AW Date: 1611212023 Royston Museum Annual Accounts 3 Nov 21 to 31 Mar 23.docx 12