Digitally Signed Document Document ID: E95F97D2E385C4 ## Document Details |**Filename:**|OKM CIO 2024 accounts.pdf| |---|---| ||| |**Client of:**|A J Bennewith & Co| ## Signature Details |**Name:**|Bruce Oelman| |---|---| ||| |**Email:**|bruce.oelman@rural-life.org.uk| ||| |**Date & Time:**|14/02/2025 15:21:03 PM (GMT)| ||| |**IP Address:**|86.178.58.204| ||| |**Signing Statement:**|Bruce Oelman confirms that the information is
correct and complete to the best of their knowledge
and belief.| ## Digital Certificate The approved PDF file has been digitally certified.Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with. |**On behalf of:**|A J Bennewith & Co| |---|---| ||| |**PDF digital certificate:**|IRIS Software Group Limited| ||| |**Digital certificate issued by:**|GlobalSign| Please keep a copy of this document for your records. ``` 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 ```