Charity number: 1206074
Lewes Textiles and Design Museum
Report of the Trustees and Unaudited Financial Statements
For the period ended 31 December 2024
Lewes Textiles and Design Museum Contents Page For the period ended 31 December 2024
| Report of the Trustees | 1 |
|---|---|
| Statement of Financial Activities | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 4 to 7 |
Lewes Textiles and Design Museum Report of the Trustees
For the period ended 31 December 2024
The Trustees have pleasure in presenting their report and the financial statements for the charity for the period ended 31 December 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement o Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standar applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefi running a charity (PB2)'.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Lewes Textiles and Design Museum Charity registration number 1206074 Principal address 74 - 75 High Street Lewes BN7 1XN
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Simon Smewing Ms Cressida Murray Ms Sharon Reid Secretary Mr John Bradley Ms Sally Reid Independent examiners Clarke + Wells 66 High Street Lewes East Sussex BN7 1XG
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 21 April 2025 Mr Simon Smewing
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Lewes Textiles and Design Museum Statement of Financial Activities For the period ended 31 December 2024
| Notes | Unrestricted | Restricted | 2024 | |
|---|---|---|---|---|
| funds | funds | |||
| £ | £ | £ | ||
| Income and endowments from: | ||||
| Donations and legacies | 2 | 50 | 885 | 935 |
| Total | 50 | 885 | 935 | |
| Expenditure on: | ||||
| Charitable activities | 3/4 | (647) | (804) | (1,451) |
| Total | (647) | (804) | (1,451) | |
| Net income/expenditure | (597) | 81 | (516) | |
| Total funds carried forward | (597) | 81 | (516) |
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Lewes Textiles and Design Museum Statement of Financial Position As at 31 December 2024
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Net assets The funds of the charity Restricted income funds 7 Unrestricted income funds 7 Total funds |
£ 2024 48 |
|---|---|
| 48 | |
| (564) (516) |
|
| (516) | |
| (516) | |
| 81 (597) |
|
| (516) |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr Simon Smewing Trustee 21 April 2025
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Lewes Textiles and Design Museum Notes to the Financial Statements For the period ended 31 December 2024
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Lewes Textiles and Design Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
The financial statements are prepared, on a going concern basis, under the historical cost convention.
Statement of cash flows
The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small.
Funds
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.
Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.
There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
Taxation
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.
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Lewes Textiles and Design Museum Notes to the Financial Statements Continued For the period ended 31 December 2024
2. Income from donations and legacies
| Donations received Grants received Analysis of grants received Lewes Town Council |
Unrestricted funds £ 50 - 50 |
Restricted funds £ - 885 885 |
2024 £ 50 885 |
|---|---|---|---|
| 935 | |||
| 2024 £ 885 |
|||
| 885 |
3. Costs of charitable activities by fund type
| osts of charitable activities by fund type | |||
|---|---|---|---|
| Unrestricted | Restricted | 2024 | |
| funds | funds | ||
| £ | £ | £ | |
| Symposium and event services | - | 804 | 804 |
| Support costs | 647 | - | 647 |
| 647 | 804 | 1,451 |
4. Costs of charitable activities by activity type
| Activities | Support | 2024 | |
|---|---|---|---|
| undertaken | costs | ||
| directly | |||
| £ | £ | £ | |
| Support costs | |||
| Symposium and event services | 804 | 647 | 1,451 |
5. Analysis of support costs
| Symposium and event services Finance Legal Fees Governance costs |
2024 £ 36 411 200 |
|---|---|
| 647 |
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Lewes Textiles and Design Museum Notes to the Financial Statements Continued For the period ended 31 December 2024
6. Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2024 £ 364 200 |
|---|---|
| 564 |
7. Movement in funds
Unrestricted Funds
| Incoming | Outgoing | Balance a | |
|---|---|---|---|
| resources | resources | 31/12/202 | |
| £ | £ | ||
| General | |||
| General | 50 | (647) | (597 |
| 50 | (647) | (597 |
Purpose of unrestricted Funds General Symposium
Restricted Funds
| Lewes Council | Incoming resources £ 885 885 |
Outgoing resources £ (804) (804) |
Balance a 31/12/202 81 |
|---|---|---|---|
| 81 |
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Lewes Textiles and Design Museum Notes to the Financial Statements Continued For the period ended 31 December 2024
Purpose of restricted funds Lewes Council Symposium
8. Analysis of net assets between funds
| Unrestricted funds General General |
Net current assets / (liabilities) Net Asset £ (516) (516 |
|---|---|
| (516) (516 |
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