Royston Museum Trust CIO
TRusfEES' REPORT
AND FINANaAL STATEMENTS
3rd November 2021 to 31° March 2023
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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 per￿dS..
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
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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
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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.
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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 diffe￿nt
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 V￿uld 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 re￿IVed funding from North Herts Distritt 106
monies to create an a￿sSIble 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 ServI￿S 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.
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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 Se￿1￿ 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.
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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 ex￿pt 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.
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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
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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- CUr￿nt
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
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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
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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
I12￿3
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 I￿land, 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
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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:
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