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OKM CIO 2024 accounts.pdf |
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| Client of: |
A J Bennewith & Co |
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| Name: |
Bruce Oelman |
|
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| Email: |
bruce.oelman@rural-life.org.uk |
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| Date & Time: |
14/02/2025 15:21:03 PM (GMT) |
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| IP Address: |
86.178.58.204 |
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| Signing Statement: |
Bruce Oelman confirms that the information is
correct and complete to the best of their knowledge
and belief. |
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REGISTERED CHARITY NUMBER: 1200370
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2024
for
Old Kiln Museum CIO
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
Old Kiln Museum CIO
Contents of the Financial Statements for the Year Ended 31 March 2024
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 |
Notes to the Financial Statements |
8 to 19 |
Detailed Statement of Financial Activities |
20 to 21 |
Old Kiln Museum CIO
Report of the Trustees for the Year Ended 31 March 2024
Thetrusteespresenttheirreportwiththefinancialstatementsof thecharityfortheyearended31 March2024. The
trusteeshaveadoptedthe provisionsof AccountingandReportingby Charities:Statementof Recommended Practice
applicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicablein the
UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
History, objectives and activities of the Trust
The Old Kiln Museum CIO (1200370)was establishedon 22nd September2022, transferringall assets from the original
charitabletrust,OldKilnMuseumTrust(289150)itselfhavingbeenestablishedinJune1984.OldKilnMuseum Trust
(289150) traded until 31st March 2023 when Old Kiln Museum CIO (1200370) took over and began trading.
The charity'sobjectivesare to establishandmaintaina fundforthe purposesof preservingthe OldKilnMuseum and
to providefor the advancementof publiceducationin mattersrelatingto farming,toolsand goodsused by craftsmen
and traderslocallyfrom villagelife throughthe periodfrom 1750 to 1960. The Charityrelies on entrancefees charged
by the Museumandincomeraisedfromshopsalesandspecialeventsto covermostof the annualrunningcosts. For
capitalprojects,andthecostofimprovements,theTrusteesseekgrantsfromlocalauthoritiesandother grant
awardingbodies.Therehasbeennochangeinthesepoliciesduringtheyear.In2023-24,theTrustemployed four
full-timeemployees,three part-timestaff and zero hoursstaff for some dutiesas required.The rest of the work of the
Museum is carriedout by volunteers.The Museum is accreditedunderthe Arts CouncilScheme. (Accredited Museum
No.418).
ACHIEVEMENT AND PERFORMANCE
Review of the Year 2023-24
Old Kiln Museum CIO continuesto operatethe Rurallife LivingMuseum.Organisationalfocusand outcomes continue
to be thatof promotingthe Museumandits collectionsto the public.Incomegenerationis dependenton developing
new audiencesand attractingvisitorsto the site, througha rangeof activitiesand specialevents throughoutthe year.
Particularfocuswasgiventodevelopingourmarketinganddigitalofferingviaoursocialmediachannelstoreach as
wide an audienceas possible.2023 saw a significantrise in the costs of operatingthe Museum, in particular electricity
andmaterialsrequiredformaintaininghistoricbuildings.TheDirectorandTrusteesworkedtoreducecostsasfar as
possiblewhilstmanagingtheeffectofsignificantrises.Apublicprogrammeofnormalopeningalongside special
eventsisredevelopedeachyeartoincludeprevioussuccessfulcontentwhereitwasfeltthiswasrelevantto the
Museumanditsstories,alongsidenewcontent,allaimedatfamilyaudiences,individualadultsandadult specialists.
Thisyearsawtheintroductionofcharactereventsforourfamilyaudience,with'aDayoutwithBluey'being a
successfulintroductionto thiskindof content.The charitycontinuedto operatethe café thisyear throughits trading
subsidiary,Old Kiln TradingLtd. However,poorfinancialperformancein this area of the businessput additional strain
on the Museum'sfinancesparticularlytowardsthe end of the financialyear. Effortscontinuedthroughoutthe year to
bringthesiteanditsbuildingsintoagoodstateofrepairandmaintenance,withsmall,low-costprojectsbeing the
focusto controlexpenditure.2023-24was a reasonableyear for visitorswithaudiencestravellingover an hourto get
totheMuseumandresultinginatotalfootfallof38,000visitorsacrossallactivities.Weareverygratefulfor the
enormous efforts made by staff and volunteers to make 2023-24 a success, despite financial challenges.
Organisation and Management of Volunteers
Themanagementissupportedbyasmall,dedicatedteamofstaffandanenthusiasticteamof volunteers.
Volunteeringtakesplaceonsite7daysaweek,withindividualsandsmallgroupsofvolunteersundertakinga broad
rangeoftasks.Volunteersworkinrolesfromfrontofhouse/visitorwelcome,throughgroundsand buildings
maintenancetocollectionsmanagementandinterpretation/demonstrationofworkingobjectsonsite.Formal and
informallearningis led by a member of staff supportedby a team of volunteerswho deliver 90% of all school sessions,
twilightsandhomeeducationthroughouttheyear.Volunteersarebeginningtobecomemoreengagedwith the
businessofoperatingthemuseumandunderstandingthepositiveimpacttheircontributionshave,through general
meetingswhichincludepresentationofperformanceandfinancialmetricstoallowallinvolvedtotrack and
understandprogress.Recruitmentof volunteersis slow, with onlya handfulof new volunteersjoiningduringthe year
andmorefocusonarrestingthisdeclineis requiredinthefuture.Volunteershaveworkedhardto drawfocusto the
museum's collectionswith regularweekend contentand demonstrationstaking place each month as part of the public
programme.
Page 1
Old Kiln Museum CIO
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Financial position
Tradingin2023-24wasreasonable,althoughreducedfromthepreviousperiod,withturnoverfromtheoperation of
theMuseumtotalling£266,660,withtheadditionofdonationsandlegaciesgivingatotalturnoverof £280,662.
Expenditure,despitecontrolsbeinginplace,fortheoperationoftheMuseumtotalled£275,300,with additional
spendfromrestrictedanddesignatedfundsgivingatotalexpenditurefortheperiodof£301,425,resultingina net
positionof£-20,763.Cashpositionattheendoftheperiodwaslowat£59,505cashatbank,ofwhich£32,594is in
restricted funds.
Investment policy and objectives
ItisthepolicyoftheCharitytomaintainunrestrictedfundsatalevelequatingtoapproximatelythree months
unrestrictedexpenditurewheneverpossible.This is intendedto providesufficientfundsto coveroperating expenses.
The adequacy of the reserves policy is reviewed periodically.
Capital and enhancement projects
There were no capital projects undertaken during this year.
Audience Engagement
Audiencedevelopmentandengagementcontinuestobeapriority.Duringtheyear,staffweresuccessfulin both
increasingthenumberofschoolvisitsandsignificantlywideningtherangeoforganisationsengagingwith the
Museum.Promotionof the Museum'scollectionvia socialmediaplatformshas been very successful,engaginga wide
and variedaudiencewho had not previouslyknownthe Museum existed.Deliveryof new events, for family audiences
and adult specialistsin particular,has served to drive visitornumbers.Detailedcataloguingof the collection, inventory
checkingandphotographingobjectscontinueapacewitharound11krecordsnowupdatedandcomplete.Work has
nowbegunonsortingandcataloguingarchiveandlibrarycollectionswithaccessnowavailableto researchers.
Knowledgeof thecollectionis nowverygood,enablingus to domorewithit inordertoengagevisitorsbothon and
off site. A huge volume of work to bringworkingobjectsback to life for publicdemonstrationwas all but complete by
the summerwithonlythe most complexandcostlyobjectsto consider.Ourweb presencecontinuesto improve with
continueddevelopmentof our web pages and the furtherdiversifieduse of socialmedia.Effortsin all these areas will
continueintothefuturetoensurethattheMuseumcontinuestomeetitsobjectivesandbeavaluedassetfor the
local and wider community.
FUTURE PLANS
It is hopedthat 2024-25 will see good footfalland some reductionin operatingcosts ratherthan furtherrises and that
thecurrentcostoflivingcrisiswillnotadverselyaffectvisitornumbers.Thefinancialpositionattheendof 2023-24
presentsarisktoongoingoperationiffactorsaffectingtheMuseum'sperformancedonotalterinthecoming year.
Particularattentionmustbepaidtoreducingexpendituretoabsoluteminimuminordertorebuildcashreserves for
the future.Trusteeswillalsoconsidertransferableassetsandfundraisingto supportthe ongoingworkof the Charity.
Despite the financialposition,publicinterestin the Museum is still strongand we hope that this will continueto grow
into the next period.
Page 2
Old Kiln Museum CIO
Report of the Trustees for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
On22ndSeptember2022,theOldKilnMuseumCIOT/ATheRuralLifeLivingMuseumreceivedassets transferred
fromtheOldKilnMuseumTrust.Previoustothistransfer,a Trustdeedof 19 January1984establishedtheRural Life
Centre.ThiswasrevisedundertheguidanceoftheMLAAccreditationScheme(nowtheArtsCouncilscheme) and
amendedbyaDeedofSubstitutiondated9thAugust2006.Accreditationwasissuedalongwitharevisionofall the
Trust'spoliciesandforwardplanstocomplywiththeaboveschemeandallowtheRuralLifeCentretobecome an
AccreditedMuseum.TheTrustDeed,whichreflectedamuchsmallermuseuminearliertimes,was completely
rewritten,agreed by the Trust Board and followingCharityCommissionamendments,finallyadoptedon 27 November
2013.Trusteesmeetformallyfourtimesayearandonadditionaloccasionstoworkonfutureplansand museum
development.TheCharitydevolvesday-to-dayoperationsandbusinessfunctionstoitsstaff,regularmeetings to
monitorfunctionssuchasfinanceareheld,conductedbythestaffwithrelevantTrusteesinvitedtoattend. The
CollectionsCommittee,led by the CollectionsManager,overseenby the Directorreportsto the Charity4 times a year
onacquisitions,disposalsandissuesaffectingthecollectionforwhichtheCharityisresponsible.TheCharity is
supported by a group of volunteers, without whom the Museum could not achieve many of its objectives.
Risk management
TheTrusteeshavearesponsibilitytoidentify,assessandmanagerisks.BasedontheTrustees'collective experience,
the major risks have been identified as follows:
-
The health and safety of our staff, volunteers and visitors.
-
The physical risk to the collection including for example by fire.
-
The risk to people and property from trees.
Wherespecificrisksareidentified,suchasoperationofcertainequipment,safetyproceduresareintroduced during
the period of operation. The Trustees manage risks in a number of ways including:
-
Recruiting Trustees with complementary backgrounds, skill sets and experience.
-
Encouraging the Director to arrange attendance for staff at external workshops and networking opportunities with
-
other similar organisations.
-
Implement appropriate operational changes and training.
-
Regular communication and update meetings between Volunteers and Staff, encouraging everybody to report any
-
concerns or issues.
-
First Aid, fire warden and equipment training.
-
A comprehensive portfolio of insurance that is reviewed annually with NFU and updated as necessary.
-
Regular inspection of the trees on site with appropriate remedial action taken to manage risk. No major risks have
-
been identified concerning the use of financial instruments by the Charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1200370
Principal address
Rural Life Living Museum
The Reeds Road
Tilford
Farnham
GU102DL
Trustees
J R Cooksley
I E J Chatfield
J F Hewins
B J Oelman Chair
E Dunford
B S Flett (appointed 22.1.24)
D Rice-Jones (resigned 2.1.24)
Page 3
Old Kiln Museum CIO
Report of the Trustees for the Year Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
B J Oelman - Trustee
Page 4
Independent Examiner's Report to the Trustees of Old Kiln Museum CIO
Independent examiner's report to the trustees of Old Kiln Museum CIO
IreporttothecharitytrusteesonmyexaminationoftheaccountsofOldKilnMuseumCIO(theTrust)forthe year
ended 31 March 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying
out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionunderSection 145(5)(b)
of the Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in
England and Wales, which is one of the listed bodies.
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
.......................................................
A J Bennewith
FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey
GU1 4XA
Date: .............................................
Page 5
Old Kiln Museum CIO
Statement of Financial Activities
for the Year Ended 31 March 2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
2,570
Charitable activities
5
Operation of Rural Life Centre
110,197
Other trading activities
3
90,908
Investment income
4
56,956
Other income
6
-
Total
260,631
EXPENDITURE ON
Raising funds
7
31,485
Charitable activities
8
Operation of Rural Life Centre
248,709
Total
280,194
NET INCOME/(EXPENDITURE)
(19,563)
Transfers between funds
21
(1,296)
Net movement in funds
(20,859)
RECONCILIATION OF FUNDS
Total funds brought forward
502,520
TOTAL FUNDS CARRIED
FORWARD
481,661 |
Fixed
Asset
funds
£
-
-
-
-
-
-
-
8,966
8,966
(8,966)
593
(8,373)
181,412
173,039 |
Year Ended
31.3.24
Restricted
Total
funds
funds
as
£
£
11,432
14,002
8,599
118,796
-
90,908
-
56,956
-
-
20,031
280,662
-
31,485
12,265
269,940
12,265
301,425
7,766
(20,763)
703
-
8,469
(20,763)
25,655
709,587
34,124
688,824 |
Period
14.9.22
to
31.3.23
Total
funds
restated
£
-
-
-
-
709,587 |
|
|
|
709,587 |
|
|
|
-
- |
|
|
|
- |
|
|
|
709,587
- |
|
|
|
709,587
- |
|
|
|
709,587 |
The notes form part of these financial statements
Page 6
Old Kiln Museum CIO
Balance Sheet
31 March 2024
Notes
FIXED ASSETS
Tangible assets
14
Investments
Investments
15
Investment property
16
CURRENT ASSETS
Stocks
17
Debtors
18
Cash at bank
CREDITORS
Amounts falling due within one
year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more
than one year
20
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
funds
£
-
2
425,000
425,002
992
52,891
26,911
80,794
(24,136)
56,658
481,660
-
481,660 |
Fixed
Asset
funds
£
173,039
-
-
173,039
-
-
-
-
-
-
173,039
-
173,039 |
Restricted
funds
£
1,531
-
-
1,531
-
-
32,594
32,594
-
32,594
34,125
-
34,125 |
31.3.24
Total
funds
£
174,570
2
425,000
599,572
992
52,891
59,505
113,388
(24,136)
89,252
688,824
-
688,824
654,699
34,125
688,824 |
31.3.23
Total
funds
as restated
£
182,837
2
425,000
607,839
5,378
40,937
81,483
127,798
(25,880)
101,918
709,757
(170)
709,587
683,932
25,655
709,587 |
|
|
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
B J Oelman - Trustee
The notes form part of these financial statements
Page 7
Old Kiln Museum CIO
Notes to the Financial Statements
for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the
exception of investments which are included at market value.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland':
-
the requirements of Section 7 Statement of Cash Flows;
-
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).
Income
Voluntaryincome,includingdonations,giftsandlegacies,andgrants,thatprovidecorefundingorareof a
generalnaturearerecognisedwherethereisentitlementandcertainreceipt,andtheamountcan be
measured with sufficient reliability. Such income is only deferred when:
The donor specifies that the grant or donation must only be used in future accounting periods; or
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
Life subscriptions are credited to income over a period of seven years.
Expenditure
Expenditure is recognised when a liability is incurred:
Costs of generating funds are those incurred in attracting voluntary income.
Charitableactivitiesincludeexpendituremade on Museum purchasesand includeboththe directcosts and
support costs relating to the running of the Rural Life Centre.
Governancecostsincludethoseincurredinthegovernanceofthecharityanditsassetsandare primarily
associated with constitutional and charity law requirements.
Supportcostsincludecentralfunctionsandhavebeenallocatedtoactivitycostcategoriesona basis
consistent with the use of the resources.
Tangible fixed assets
Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.
Freehold property |
5% straight line |
Plant and machinery |
10% straight line |
Fixtures and fittings |
10% straight line |
Computer equipment |
25% straight line |
Freehold property - land is not depreciated.
Assets costing £150 or more are capitalised at cost.
continued...
Page 8
Old Kiln Museum CIO
for the Year Ended 31 March 2024
Notes to the Financial Statements - continued
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Intheopinionof theTrustees,themuseumassets,knownas 'TheCollection'areinalienableandneednot be
capitalised.TheTrusteeshavedecidedthatallmuseumexhibitsmustbewrittenoffonacquisition through
theStatementofFinancialActivities.ItistheTrustees'policytomaintain'TheCollection'tosucha standard
that its value is preserved or enhanced.
Investment property
Investmentpropertyis shownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes
in fair value is recognised in the Statement of Financial Activities.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
Volunteers and donated services and facilities
Thevalueofservicesprovidedbyvolunteersisnotincorporatedintothesefinancialstatements. Further
details of the invaluable contribution made by volunteers can be found in the trustees' annual report.
WhereservicesaretotheCIOasadonationthatwouldnormallybepurchasedfromathirdparty, this
contributionis recognisedin the financialstatementsat an estimatebasedon the valueof the contribution to
the charity.
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
|
Period |
|
|
14.9.22 |
|
Year Ended |
to |
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
Donations |
3,770 |
- |
Legacies |
10,232 |
- |
|
14,002 |
- |
continued...
Page 9
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
3. OTHER TRADING ACTIVITIES
Year Ended
31.3.24
a
£
Fundraising events
78,678
Shop income
10,985
Sale surplus and scrap
1,245
90,908
4.
INVESTMENT INCOME
Year Ended
31.3.24
a
£
Rents received
55,747
Interest receivable
1,209
56,956
5.
INCOME FROM CHARITABLE ACTIVITIES
Year Ended
31.3.24
a
Activity
£
Grants
Operation of Rural Life Centre
1,000
Museum receipts
Operation of Rural Life Centre
106,459
Other income
Operation of Rural Life Centre
7,599
Gift aid
Operation of Rural Life Centre
3,738
118,796
Grants received, included in the above, are as follows:
Year Ended
31.3.24
a
£
Farnham South Street Trust
1,000 |
Period
14.9.22
to
31.3.23
s restated
£
-
-
-
-
Period
14.9.22
to
31.3.23
s restated
£
-
-
-
Period
14.9.22
to
31.3.23
s restated
£
-
-
-
-
-
Period
14.9.22
to
31.3.23
s restated
£
- |
|
|
continued...
Page 10
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
6. OTHER INCOME
OTHER INCOME |
|
|
|
|
Period |
|
|
14.9.22 |
|
Year Ended |
to |
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
Old Kiln Museum Trust |
- |
709,587 |
TheotherincomerepresentsthenetofthetransferredassetsandliabilitiesfromOldKilnMuseum Trust
(289150) to Old Kiln Museum CIO (1200370).
7. RAISING FUNDS
Other trading activities
Opening stock
Purchases
Closing stock
8.
CHARITABLE ACTIVITIES COSTS
Operation of Rural Life Centre
9.
SUPPORT COSTS
Operation of Rural Life Centre |
Period
14.9.22
Year Ended
to
31.3.24
31.3.23
as restated
£
£
5,378
-
27,099
-
(992)
-
31,485
-
Support
Direct
costs (see
Costs
note 9)
Totals
£
£
£
266,976
2,964
269,940
Governance
costs
£
2,964 |
|
|
continued...
Page 11
Old Kiln Museum CIO
for the Year Ended 31 March 2024
Notes to the Financial Statements - continued
9. SUPPORT COSTS - continued
TheIndependentExaminer'sfeeof£960(2023:£2,640asdisclosedinOldKilnMuseumTrust'saccounts) is
included in the governance costs above.
10. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31 March2024norforthe period
ended 31 March 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2024norfortheperiod ended
31 March 2023.
11. STAFF COSTS
|
Year ended |
Period |
|
31.3.24 |
14.9.22 to |
|
|
31.3.23 |
|
£ |
£ |
Wages |
132,182 |
- |
Social security |
4,609 |
- |
Pensions |
5,394 |
- |
|
|
|
|
142,185 |
- |
|
|
|
A redundancy payment of £2,538 is included in the wages above (2023: NIL).
The average monthly number of employees during the year was as follows:
The average monthly number of employees during the year was as follows: |
|
|
|
Year ended |
Period |
|
31.3.24 |
14.9.22 to |
|
|
31.3.23 |
|
8 |
7 |
|
|
|
No employees received emoluments in excess of £60,000.
Key management personnel
Thetotalamountofemployeebenefits(includingemployerpensioncontributionsandemployer national
insurancecontributions)receivedbykeymanagementpersonnelfortheirservicestothecharitywas £38,246
(2023: £36,928 as disclosed in Old Kiln Museum Trust's accounts).
continued...
Page 12
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Other income
502,520
NET INCOME
502,520
TOTAL FUNDS CARRIED FORWARD
502,520 |
Fixed
Asset
funds
£
181,412
181,412
181,412 |
Restricted
funds
as
£
25,655
25,655
25,655 |
Total
funds
restated
£
709,587 |
|
|
|
709,587 |
|
|
|
709,587 |
13. PRIOR YEAR ADJUSTMENT
AprioryearadjustmenthasbeenputthroughtoshowthetransferredassetsandliabilitiesfromOld Kiln
MuseumTrust(289150)to OldKilnMuseumCIO (1200370),thenetof whichis shownas otherincomein the
Statement of Financial Activities.
Anotherprioryearadjustmenthasbeenputthroughto correctthe classificationof the investmentin Old Kiln
TradingLtd (13816039)which is showingas an intangibleasset in the filed accountsrather than as a fixed asset
investment.
14. TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 March 2024
At 31 March 2023 |
Freehold
property
£
162,673
-
162,673
6,877
155,796
162,673 |
Plant and
machinery
£
17,805
869
18,674
1,867
16,807
17,805 |
Fixtures
and
fittings
£
1,313
-
1,313
131
1,182
1,313 |
Computer
equipment
£
1,046
-
1,046
261
785
1,046 |
Totals
£
182,837
869 |
|
|
|
|
|
183,706 |
|
|
|
|
|
9,136 |
|
|
|
|
|
174,570 |
|
|
|
|
|
182,837 |
continued...
Page 13
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
15. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
|
Unlisted |
|
|
investments |
|
|
£ |
|
MARKET VALUE |
|
|
At 1 April 2023 and 31 March 2024 |
|
2 |
NET BOOK VALUE |
|
|
At 31 March 2024 |
|
2 |
At 31 March 2023 |
|
2 |
There were no investment assets outside the UK. |
|
|
INVESTMENT PROPERTY |
|
|
|
£ |
|
FAIR VALUE |
|
|
At 1 April 2023 |
|
|
and 31 March 2024 |
425,000 |
|
NET BOOK VALUE |
|
|
At 31 March 2024 |
425,000 |
|
At 31 March 2023 |
425,000 |
|
16. INVESTMENT PROPERTY
Theaboveentryrelatestoarentedproperty,theOldKilnCottage,previouslyincludedwithinthe museum
assetcollectionasarestrictedfund.Duringtheyearended31March2015,thetrustees formally
re-designatedthepropertyas aninvestmentpropertyinorderto reflectthenatureof theuse of theasset by
theCIO,anddeterminedthatthebalanceof thefundas at 1 April2015andanyfutureamountsrelatingto it
shouldbehenceforthtreatedasadesignatedfund,seenote21.Theinvestmentpropertywasvaluedat fair
value, which is the market value as at 31 March 2024, by the trustees.
17. STOCKS
18.
STOCKS |
|
|
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
Finished goods |
992 |
5,378 |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
Trade debtors |
7,776 |
5,748 |
Old Kiln Trading Ltd |
39,387 |
30,625 |
Prepayments and accrued income |
5,728 |
4,564 |
|
52,891 |
40,937 |
continued...
Page 14
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Pensions payable
Other creditors
Life subscriptions
Santa Special
Accruals and deferred income
20.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Life subscriptions
21.
MOVEMENT IN FUNDS
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
General fund
48,794
(19,264)
Investment Property Fund
425,000
-
Fixed Asset Fund
181,412
(8,966)
Designated Fund - Old Kiln Light Railway
5,927
(426)
Designated Fund - Old Kiln Cottage
22,799
126
683,932
(28,530)
Restricted funds
Conservation and Documentation Fund
921
(490)
Farnham South Street Trust
1,866
563
Gibbs Building
1,270
-
Local Grants
610
-
Outreach Project
1,991
(145)
Rustics grant funding
7,501
1,786
Arts Award for Home Ed
40
-
Steve Windsor Archive Fund
8,979
(652)
Steve Windsor Outreach Fund
870
(950)
Dennis Collection
1,607
(1,953)
Harvey & Rosemary Legacy
-
9,519
Archive research fund
-
89
25,655
7,767
TOTAL FUNDS
709,587
(20,763) |
31.3.24
a
£
8,502
1,871
704
20
-
5,501
7,538
24,136
31.3.24
a
£
-
Transfers
between
funds
£
(1,296)
-
593
-
-
(703)
-
-
-
-
-
277
-
-
80
346
-
-
703
- |
31.3.23
s restated
£
4,105
3,169
1,027
20
437
5,927
11,195
25,880
31.3.23
s restated
£
170
At
31.3.24
£
28,234
425,000
173,039
5,501
22,925
654,699
431
2,429
1,270
610
1,846
9,564
40
8,327
-
-
9,519
89
34,125
688,824 |
|
|
|
continued...
Page 15
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
21. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Fixed Asset Fund
Designated Fund - Old Kiln Light Railway
Designated Fund - Old Kiln Cottage
Restricted funds
Conservation and Documentation Fund
Farnham South Street Trust
Outreach Project
Rustics grant funding
Steve Windsor Archive Fund
Steve Windsor Outreach Fund
Dennis Collection
Harvey & Rosemary Legacy
Archive research fund
TOTAL FUNDS |
Incoming
resources
£
256,036
-
1,355
3,240
260,631
2,325
1,001
-
5,140
(1)
1,200
-
10,232
134
20,031
280,662 |
Resources
Movement
expended
in funds
£
£
(275,300)
(19,264)
(8,966)
(8,966)
(1,781)
(426)
(3,114)
126
(289,161)
(28,530)
(2,815)
(490)
(438)
563
(145)
(145)
(3,354)
1,786
(651)
(652)
(2,150)
(950)
(1,953)
(1,953)
(713)
9,519
(45)
89
(12,264)
7,767
(301,425)
(20,763) |
|
|
|
continued...
Page 16
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
21. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Investment Property Fund
Fixed Asset Fund
Designated Fund - Old Kiln Light Railway
Designated Fund - Old Kiln Cottage
Restricted funds
Conservation and Documentation Fund
Farnham South Street Trust
Gibbs Building
Local Grants
Outreach Project
Rustics grant funding
Arts Award for Home Ed
Steve Windsor Archive Fund
Steve Windsor Outreach Fund
Dennis Collection
TOTAL FUNDS |
Net
movement
in funds
£
48,794
425,000
181,412
5,927
22,799
683,932
921
1,866
1,270
610
1,991
7,501
40
8,979
870
1,607
25,655
709,587 |
At
31.3.23
£
48,794
425,000
181,412
5,927
22,799 |
|
|
683,932
921
1,866
1,270
610
1,991
7,501
40
8,979
870
1,607 |
|
|
25,655 |
|
|
709,587 |
continued...
Page 17
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
21. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Investment Property Fund
Fixed Asset Fund
Designated Fund - Old Kiln Light Railway
Designated Fund - Old Kiln Cottage
Restricted funds
Conservation and Documentation Fund
Farnham South Street Trust
Gibbs Building
Local Grants
Outreach Project
Rustics grant funding
Arts Award for Home Ed
Steve Windsor Archive Fund
Steve Windsor Outreach Fund
Dennis Collection
TOTAL FUNDS |
Incoming
resources
£
48,794
425,000
181,412
5,927
22,799
683,932
921
1,866
1,270
610
1,991
7,501
40
8,979
870
1,607
25,655
709,587 |
Resources
Movement
expended
in funds
£
£
-
48,794
-
425,000
-
181,412
-
5,927
-
22,799
-
683,932
-
921
-
1,866
-
1,270
-
610
-
1,991
-
7,501
-
40
-
8,979
-
870
-
1,607
-
25,655
-
709,587 |
|
|
|
Unrestricted Funds:
Fixedassetfund-thisrepresentstheinvestmentinfixedassetsandreflectsthenetbookvalueofthe fixed
assets shown in the accounts.
InvestmentPropertyfund-thisrepresentsthevalueatwhichtheinvestmentproperty,OldKilnCottage, is
shown in the accounts.
OldKilnCottagedesignatedfund-thisfundshowstheincomeandexpenditurerelatingtotherentalof this
cottage.
Restricted funds:
Localgrants-thisfundcontainsmoniesreceivedfromtheFarnhamSponsoredRide,fortherefurbishment of
the display of horse saddlery.
ConservationandDocumentation-fundallocatedtoresourcesrelatedtoconservationand collection
management.
Rustics- fund in which money raised by the Rustic volunteers is allocated to different museum projects.
Farnham South Street Trust- monies provided for community engagement in craft days.
Steve Windsor Archive Fund- monies provided to stabilise the archive and develop archiving activities.
continued...
Page 18
Old Kiln Museum CIO
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
21. MOVEMENT IN FUNDS - continued
Steve Windsor Outreach Fund- monies to be used for ongoing outreach work.
Dennis Collection- fund allocated to preserve Dennis Vehicle collection.
Harvey & Rosemary- legacy from late long-term volunteers.
Outreach project- money allocated from the Covid Recovery Fund to provide materials for outreach work.
Archive research fund- money from public researching to be used for archive purposes.
Gibbs Building- from Gibbs family to fund work on the Gibb collection building.
22. RELATED PARTY DISCLOSURES
Duringtheyear,theblacksmith'sforgewasrentedtooneofthetrustees,JohnCooksley,for£120pa (2023:
£120 pa as disclosed in Old Kiln Museum Trust's accounts).
Page 19
Old Kiln Museum CIO
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
|
|
Period |
|
|
14.9.22 |
|
Year Ended |
to |
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
3,770 |
- |
Legacies |
10,232 |
- |
|
14,002 |
- |
Other trading activities |
|
|
Fundraising events |
78,678 |
- |
Shop income |
10,985 |
- |
Sale surplus and scrap |
1,245 |
- |
|
90,908 |
- |
Investment income |
|
|
Rents received |
55,747 |
- |
Interest receivable |
1,209 |
- |
|
56,956 |
- |
Charitable activities |
|
|
Grants |
1,000 |
- |
Museum receipts |
106,459 |
- |
Other income |
7,599 |
- |
Gift aid |
3,738 |
- |
|
118,796 |
- |
Other income |
|
|
Old Kiln Museum Trust |
- |
709,587 |
Total incoming resources |
280,662 |
709,587 |
EXPENDITURE |
|
|
Other trading activities |
|
|
Opening stock |
5,378 |
- |
Purchases |
4,216 |
- |
Cost of special events |
22,883 |
- |
Closing stock |
(992) |
- |
|
31,485 |
- |
This page does not form part of the statutory financial statements
Page 20
Old Kiln Museum CIO
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
|
|
Period |
|
|
14.9.22 |
|
Year Ended |
to |
|
31.3.24 |
31.3.23 |
|
|
as restated |
|
£ |
£ |
Other trading activities |
|
|
Charitable activities |
|
|
Wages |
132,182 |
- |
Social security |
4,609 |
- |
Pensions |
5,394 |
- |
Insurance |
15,509 |
- |
Light and heat |
39,107 |
- |
Advertising |
4,854 |
- |
Office costs |
5,634 |
- |
Repairs and maintenance |
39,225 |
- |
Event and volunteer costs |
1,588 |
- |
Other staff costs |
1,007 |
- |
Visitor and ticket costs |
8,731 |
- |
Freehold property |
6,877 |
- |
Plant and machinery |
1,867 |
- |
Fixtures and fittings |
131 |
- |
Computer equipment |
261 |
- |
|
266,976 |
- |
Support costs |
|
|
Governance costs |
|
|
Independent Examiner's fee |
960 |
- |
Legal and professional fees |
2,004 |
- |
|
2,964 |
- |
Total resources expended |
301,425 |
- |
Net (expenditure)/income |
(20,763) |
709,587 |
This page does not form part of the statutory financial statements
Page 21