2020-12-31-accounts

Regl¥ter•d numb•r: 00830659 Charlty number: 241644 AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmltod by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by gu•ranto0) CONTENTS Page R•hr•nc• and admlnl•trativ• d•tsih of th• Compary, Its Trust•è• and ad¥l••v• TN¥tèM' report Ind•p•ndent •xamln•V• r•pDrt 9-10 Con•olldat•d •tat•Th•nt of Iln•ncl•l actlvltl•• 11 Con¥olldat•d ￿lanc0 •h••t 12-13 C¢)fflpny ￿11￿¢0 •hKt 14-15 Con•olld•t•d •t•tsm•nt of c••h 11 16 Note• to th• flnanclal •tat•m•nl• 17-54

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company lim1t￿ by guarantse) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 310ECEMBER 2020 Trustees Woolley A Hudey N Psirides KGee Am8trong M Hill (resigned 15 June 20201 P Reilly (appointed 1 November 20201 P Richrnond18ppoinled 22 January 2020) D Robinson (appointed 22 January 20201 Cofflpany rngl*t•rnd numI￿r 00830659 Charlty Mgl#tornd number 241644 Rogl•toMd ¢>fflc• stoke H•gth 8romsgrove Worcestorshire 860 4JR K•y m•n•g•m•nl t••m Simon Carter. Museum Oifeclor Ire81gned 29 February 20201 Nick Slurgess, Deputy Muse¢Jm Director Zoe Willems, Director lappoinlsd February 20211 Page 1

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltèd by guar•nto•) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The TfU$tee$ present their annual report together with the flnancial 818tem8n18 of the Avoncroft MuBeum of Historic Buildings for the year 1 January 2020 to 31 December 2020. The Annual report serves the purposes of bolh a Trustees, report and a dlrectors. report under company law. The Twslees conlirni that the Annual report and financial statemen15 of the ch8ritsble company comply with the current statutory requlrements, the requirements of the charltsble company's governing tjocument 8nd the prowsion5 of the Stslemenl of Recommended Practlce ISORPI applicable lo chanties preparing their accounts in accordance Yith the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland {FRS102) (effective l Janu8ry 20151 as amended by Updalt 8ull8tin 2 (effective Oclober 20181. Since the group and the Company qualfy a8 small under section 383 of the Companleg Act 2006, the Group glralegic report required ol medium and 18rge companies under the Companles Act 2006 (Strategic Report and Dlroclor8' Report) Regulats'ons 2013 has been omitted. Tru•t•e• of th• Charlty The Trustees have 8erved durfng the year and since ihe year end were 88 follows.. M Woolley A Hurley N P8iride8 KGee M Armstrong Mike ￿1111 (resigned 15th June 20201 Peter Rbchmond lappoinled 22 January 20201 Dgvid Robinson lappoinled 22 January 20201 Peter Reilly ObJ•ctlv•• Ind Actlvltle8 ObJ•ctlv•• and Alm• The princlpal aim of the charitable company In the year under review was lo advance the educatlon of the public In the history of building 89 IIIuglrated al Avoncroft and the relotlonship of people wth the buildings they constructed and In which they lived and worked. The Chadty gets out how il wll achieve ils gim$ and obiecliveB set out in our 21>Year Vision through its 3-year 8u5iney5 Plan. Publlc B•n•ff t 8tatsment We have referred to the guidance contsined in the Charity Commission's general guidance on public We have referred lo the guidance cont8lned in the Charity Commission's general guidance on public benefit when rèviewing our alms and objecb'ves and In p18nning our fLrture aclivities. In particular, the Trustees have considered our future abilty lo meet our charitable puipose when setting our 20-yeaf Vision and ils goals and objectives. Shorter-term objectives to deliver public benefit are set wthin the Museum'5 business plan. Page 2

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limitgd by g•Jarnntso1 TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Stralgglc Report Achi8v•m•nt• •nd p•rfornianc• 2020 was a difncull year for the Museum. The Covld-19 pandèmlc meant the MuBeum had to c108e as a result of Government instructions from 23rd March 2020, was able lo re-open on a part-lime. reslrlcted access basi8 in July and closed again wth effect from the end of September 2020 as 8 re8ull of further Govemmenl lockdown restrictions. Thi$ re8ulled in 8ignificanlly reduced visitor numbers and m8ioT IOBS of Income. During 2020 the Museum achieved 8,594 visitors, compared with 28,439 in 2019. There was also a consequentsal drop in the onv slte spend. Altogether this resulted in the Museum having significant financl81 difficultles. However, Bubstanb'al grants from the National Lottery Heritage Fund and the Arts Councll Culture Recovery Fund together With other significant grants and donation$ were achieved during the year. In 2019 the Trustees had get up a sm811 working group ol four Trustees to woik wlh senior managers to devise 8 Recovery Plan lor the Museum and if that fabled, • Closure Plan, if il was ¥hown the Museum did not have a sustainable future. Both of these planj were reviewed by the Trustees and there was belief that recovery could be achleved. Tow8rd8 the end of the 2019 work began on implemen)ng this Recovery Plan. However, this wa8 blowi off cour8e by the Museum having to close because of the Cov1￿19 pandemlc. Inve¥tment porforminc• Avonuoft Enlerprlsey Llmiled madè a 1088 of £52,183 wth negative net liabillties of £11,738 at the year end. Rl•k man4gèm•nt The Tru81ee8 have a duly lo identify and review the risk8 to ￿lch the Charlty 18 exposed and to ensure approprl8le controls are in place lo provide reasonable assurance against fT8ud and error. The Trustee8 ex8mine Ihe principal areas of the Charlty'$ operation5 and consider the major ri$ks faced In each ol these areas al Ihelr bl-monlhly meetings. In the opinion of the Trustees, the Charity has estsblished appropriate re8ource and review Systems, which, under nomal conditions, should allow these risks to be mrtigaled lo an ac￿pIable level in ils day-to-day operalioni. The Trustees formulated a Reserves Policy in January 2016 which 18 regularfy monrtored. When the Museum was able to re-open measures were pul in place lo ensure that the Museum wa8 8 Safe place for vlgilorg, staff and volunteers. These included pre•booking of b'med slots to control the numbers on 811e at ony one time, safety 5¢reens In the ghop and lea rooms. hand sanitiser point8 a¢ro¥$ the sile and enhanced cleaning Ihroijghoul the site. Flnanclal Ro¥l•w Int•mal and •xtemal f•ctov• The Museum operates in a rapidty changlng environment to whlch market conditlons and legSslat6on regularly Introdu￿ new challenges. The Museum con8lders 116 posillon at bi-monthly TTuslees' meetings and develops policies designed lo make its long-term financial pos11ion as secure as possible. Page 3

AVONCROFT MUSEUM OF HISTORIC 8UILDINGS IA company Ilffllted by guarnnt¢tl TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENOED 31 DECEMBER 2020 R•s8Ng8 poIIcy While the Trustees of Avoncroft Museum recognise thè importanee of building up reseryes for the Museum lo overcome any short-lefm financial drfficully, the m8ln objective over recent years has been lo av¢id those financial difficulties themselves. Un￿1 the covld closure the Trustees had concentrated on increasing the overall tumover and profilabilily of the Museurn'8 activib'es Ilhrough its Charitable ath'vities ol allowing admission lo the Museum. leaching, providSng talks and membership, elcl and through using it8 wholly ovffled trading company Avoncroft Enlerpri8e5 Ltd, lo Bafeguard the ffinanci81 future of the Museum. The enforced closure during 2020 meant this has not allowed yel for the building up of unreslricled reserve8. The Tru$lee8 Tecognbse the need to continue woth towards Ihl8. The Tru8lee8 monitor the finanual risk of the organisats'on on a bi4Monthly ba$l¥, manage a rl•k regl8ter for the Mu8eum and 899e88 the ongtyng performance of both the Museum and ￿ trading company on a monthly ba818 through man8gemenl accounts. Al 31st December 2020 the Museum had reserves of £9￿,407 {£734,177 20191 of whlch £51,270 were reglricted1£51,666 in 20191. £324.2421£ 326,190 in 20191 had been designated by the Trustees. F￿e reserve8 of th& ch8rity consist ol total reserves legs restricted lunds leys intangible aB8ets, tangible assets and Heritage assets. £163.461 12019: negallve £90.6871 Prlnclpal fundlng •ourc•¥ The principal funding ¥ource¥ for Avoncroft Museum are pald admlsslon8, annual and Ilfe member8hip, event charges, the provision of learning Programmes. as well a8 grants from other bodies and individuals. There 18 •lJo an annual ITon¥fer of profil frorn ity trading subsldlary, Avoncroft Enlerpri8eg Ltd. Inv••tffl•nt pollGy and obJ•ctlve8 The only sums available lo invest are those fDr the time being In the restricted funds account, 8nd th0￿ are in cash al bank, in fixed assets and In Stock. The policy is lo use these funds lo gener8te additional income where possible, but freedom of action 15 limited by the need to draw on the9e fundg at frequent Interval8 lo finance the projerts for %thich the resources were acquired. P8ge 4

AVONCROFT PIUSEUM OF HISTORIC BUILDINGS IA comp•ny Ilmlt•d by gu•r•nteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2D20 Golng concern Covid 19 Statement- the 2020 Accounts were significanlty affected by the global pandemic The Tru8tee8 have been de81ing with the major impact of Covid 19 and the 88gociated re8lnctlon8 8tsff and vl8itor6, 811 through 2020. The Tru51ees have established a $uWroup lo specrfically look at the impact of the pandemic, the vlabi1Sly ol the Mtjseum and the recovery plan that can be enacted in due course. Thi8 Group have been meeting regularty, along wlh Senior Museum Staff lo react lo the constantly thanging Situation the Mu8eum ha8 faced. We were pleased lo received 81gnificant Support frem the National Lottery Herflage Fund In July 2020 and further vitsl 8UPPOrt In the form of a Cultural RF Grant through the Arts Council In Novembw 2020. These grants have been vrtal to the Museum remaining a golng concem. The TnJ81ee9 h8ve been ple89ed 81 the 8UPPOrt of visitors, members 8nd many Supporters who have attended the Museum during our limited opening in 2020 and this income hag conlribuled lo our ability ta remaln open. The Twsle98 have had to make very difficult deci8ion8 in 2020. In March 2020 advantage wa8 taken of the Government's Job Retention Scheme and all bul tsyo permanent stsff were 'fudoughed', subsequenuy flexibly furloughed, and no ses¥ion$ of work were offered to casual Staff. In January 2021 all but one member of the senior staff were made redund8nl. There 18 currently 8 review of what staffing structure the Museum can afford in 2021 and a new Dlreclor, Zoe Willems, was appointed in February 2021. At the date these account8 are signed the Trustees are confident the Museum remains a going concern for al least a fvrther 12 months. During thi8 time the Trustees and Staff VAII continue to work lireleBsly lo eytablish new funding sources and a viable long lemi future. The Trustees recognise the difficult financial situation al the current time and further recogniie Ihii could have 153ues regarding remaining a going concern moving forward. Wilh the support of facilitiey in place from our bank and our operational plans the Trustee5 feel that the organisalion is currently a going concern and has the ability lo remain a going conGem in the future. byl thi8 18 kept under regular review as is the cash flow position. Plans for future periods TN91eeg and the Museum's management team have agreed that during 2020-21 that once the covid reslrictlons a￿lIfted the main focus will be lo Increase the Museum's Income and deliver needed change5 to enBUTe that the Museum has the ability lo move towards a further development phase in the coming years. After re-opening. and despite initially On￿ being open on a part-liThe ￿StrICted basis, our focus in 2020-21 will be lo increase visitor numbers land therefore income from admissions. membership. retail and catering elcl through programming and marketing, while improving the visitor experience and enyuring background systems are updated. Structur•. Govemance •nd Manag•mènt Governing document The Charity 18 conlrdled by ils governing document, a deed of INSI, and conslllute8 a limlled company. limited by guarantee, as (Jeflned by the Companles Act 2006. Organlsatlonal structure Policy and strategic management controls are retained by the Trustees and the overall running and management of the Museum is undertaken by the Senior Staff. The Museum employed 28 paid staff at the end of 2020 {of which 6 were non-casual staff induding 8 mix of full- lime and part-lime permanent staff and part-lime fixed-lerrn contract staff). Page 5

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt•d by gu•r•ntee TRU3TEES' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2Q20 Voluntsers The Museum is supported by a team of volunteer6 who undertake numeroug roles at the Museum Including interpretation, maint¢nanee, ealaloguing, gardening, ma￿eting, lundraising elc. There are 105 who give their lime free of charge but are able lo reclaim their travel expen8e8. Wldor network The Museum works wthin an infonnol nelvK¥rk of public and charilable mu8eum8 in Worce8ter$hir8, Ihe West Midlands and the wlder UK. It Is a member of a number of voluntary bodies such as the Agsocialion of Independent Museumg and tOUri8rn bodie8 suth 88 Vi811 Worce81er8hire. It receives no regular 8UPPOrt from local authorities and relle8 enurefy on funds generated from admissions, tradlng and 9rant aid from other relevant R•l•tsd partl Avoncroft Enterprises Limited 1$ 8 wholly ovmed subsidiary of the Charitable Company. The prlnclpal acd¥Aty ol Avonuoft Enlerpri8eB is lo provide trading 8ervice8 to Avoncroft MuBeum of Hi•loric Buildings. Page 6

AVONCROFT MUSEUM OF HISTORIC BUILDIP4GS IA company Ilmitod by guarnnt••l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 R•crultmont •nd appolntm•nt of now Tru•tM• The Trustees are elecled al an Annual General Meellng for a period of three years al vthich point they mu¥l retire and seek re-election, The Trustees provide their service8 Iree of charge. Election of Tru•t••• Mlke Hill resigned a5 a Trustee and Hon Tre8suier In June 2020 for personal reasons. Peter Rithmond, David Robinson and Peler Rellly were co-opted as Trustee9 cluring the year and confimied al the covid delayed 2019 AGM in April 2021. Davld Robinson look on the role of Hon Tre88urer. Members Te•elecled Kathy Gee, Andrew Hurley and Michael Woolley al the covld delayed 2019 AGM In Ap￿1 2021 for 8 further Ihree-year lelm. Inductlon trnlnlng for n•w Tru•t•• Approprfale Iralning relatlng lo Trustees. responsibilitie$ is glven to new Tru8tees on apFoinlment. Page 7

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilffllted by guararrteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Statement of Trnit•è' r•spon•lbllltl•• The Trustees Ivtho 8re 8180 directors ol Avoncroft Museum of Historic BuSlding5 for the purpose5 of company lawl are responsible for preparing ihe Trustees Annual Report lincluding the Slr8legic Plan) and the financial st81ements in accordance ith applicable law and United Kingdoffl Accountlng Standard8 Iunited Kingdom Generally Accepted Accounting Praclicel. Company Law requires the Trustees to Prepare financial 8talemenls for each financ￿31 year whteh give a true and fair viw of the state of affairs of the charitable company and ol the incoming resources and applicallon of resources, including the incorne and expend1ture of the ch8nlable comp8ny for Ihal period. In prepallng those financial slalemenl8, the Trustees are required to.. Select suitable accounting policies and then apply them conjislenlly observe the methods and Principles of the Charities SORP 2Q15 IFRS 102) make judgements and eslimales that are reasonable and prudent Slate whether appllcable UK Accounllng Stsndards hav8 been followed. Jubject to any material departures discloyed and explained in the financial $tslemenl$ prepare the financial statements on the going Concern basi8 unless il 18 Inapprop￿$t¢ to presurne that the company ￿11 continue in operallon The Trustees are responslble for keeping proper accounllng records which disclose wth reaoonable accurocy at any lime the financial po8its.on of the Company and enable them lo ensure that the financial statements comply th the Chariliey Act 2011. They a￿ also ￿￿OnSIble for ¥8leguording the asset* of the Charflable Company and hence for taking rea80n8ble slep8 for Prevention and detection of fraud and other irregularlbes. In 80 far a8 the Trugteej are aware- there 18 no relevant inlomi8llon of which the ch4dl8ble company's auditor8 18 unaware the IrusteEs have t8ken all the steps that they ought lo have taken ay a Irusteeg in order lo make them aware of any audit infomiatlon and lo establish that the charitable company's auditor8 are awa￿ of the that informatson In order for them lo prepare the accoun15 which accord with th? accounts'ng fecords, comply wlh the accounting requirements of sedon 396 of thè Companies Act 2006 and with the methods and principles of the Slalement of Recommended Pracllce.. Accounting and Reportlng by Charits'es. Approved by order of the memberB of the board and Signed on their behalf by.. Trustee8 Allch•el Woolley Chairman of the Council Page 8

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS IA company limltsd by guaranto91 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OECEMBER 2020 Ind•p•nd•nt Examin•r's R•port to th• Tru•t••• of Avoncroft Mus•um of Hi•tori¢ 8ulldlng• Ilh• Group'} I report to the chartty Trustees on my examination of the consolidated accounts of the Group Comprising the Avoncroft Museum of Historic 8uildings I'lhe parent Company'l and its subsidiary undertakings for the year ended 31 December 2020. Ro•pon$lbllltlo8 and Ba81s of R•port As the Trustees of the parent Company18nd 118 directors for the puip08es of company lawl you are re8pongSble lor the preparation of the conyolidaled accountg of the Group in accordance with the requirements of the Companies Act 20061.lhe 2006 Act'l and you have ch08en lo prepare consolidated accounts for the Group. You are satisfied that the aecounls of both parent Company and the Group are not requiied by ehher company or charity law to be audited and h8ve chosen instead lo have an independent examination. Havbng sallsfled mysell that the consolidated accounts gre not required lo be gudlled under Pgrt 16 of the 2006 Act and are eligible for independent exarnination. I report in respect of my examination of the Group's account8 carried out under section 152 of the Charities Act 2011 I'lhe 2011 Act'l. In carrying ¢)ul my examination I ha followed the Dlrect+on8 given by the Charity Commission under sectlon 15215llbl of the 2011 Act. An independent examlnallon does not Involve gathering all the evidence that Y￿uld be required in an audit and consequenlty does riot cover all the mallers that an auditor considers giving their opinion on the accounts. The planning and conduct of an audll goes beyond the limited assurance that an independent examination can provide. Consequently l expre88 no option as to whether the congolldaled accounts present a'true and folf vlew and my report is limited lo those speclfic matter8 set out in the independent examinerfs Statement. Independent Ex•mlnerf• Ststgm•nt Since thè Tru8tees have opted lo prepare ￿n￿OI1￿￿ted 8ccounl8 for the Group your examlner mu81 be member of a body listed in section 145 of the 2011 Act. I confim that l am qualified lo undertake the exarninalion because l am a member of ICAEW, which is one of the listed bodies. I have completed my examinalicn. I confim) that no matter8 have come lo my attenllon connectlon ￿th the examlnalion giving me cause to believe.. accounting records were not kept In respect of the parent Company and 11$ Jubsidianes as required by section 386 of the 2006 Act., or the accounts do not ac￿rd wilh those re¢ord8,' or the accounty do not comply the accountsng requirements of section 396 of the 2006 A¢1 other than any requirement that the accounts give a 'lrue and fairf view which 18 not a matter considered as part of an independent examination., or the accoun15 have not been prepared in accordance wth the methods and princAples of the Statement of Recommended Prath'ce for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance ￿th the Flnandal Reporting Standard applicable in the UK and Republbc of Ireland {FRS 102). I have no concerns and have come across no other matters in connedion Ihiih Ihe examination to which atten￿On should be drawn in this report in Order to enable a proper understanding of the accounts to be reached. This report 1$ made solely lo the Companvs Tru8lees, a8 a body, In accordance wlth Part 4 of the Ch8rllle8 Page 9

AVONCROFT MUSEUhl OF kllSTORIC BUILDINGS (A cofflpany Ilmltsd by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 (Accounts and Reports) Regulations 2008. My ￿rk ha8 been undertaken so that I might stale lo the Company's Trustees those mallers l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent pemiitted by18w, I do not accept or assume responsibilrty to anyone other than the parent Company and the Company's Tfuslees as a body. for my work or for thi5 report. QDLrf LLf Signed.. Kerry BTOVM Crowo U.K. LLP Chartered Accountant• Black Country House Rounds Green Road Oldbury We$1 Midl8nd8 B69 2DG Dated.. 25 October 202I FCA Page 10

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlled by guarant•¢l GONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2020 Unr•8trfcted funds 2020 R￿trIcted funds 2020 Total funds 2020 Total funds 2019 Noto Incom8 from: Donauons and legacies Charil8ble ath'vilies Other trading activits.es Inve8lment8 406,408 51,467 31,152 12,991 147.400 553,808 51.467 31,162 12,991 71,219 193,204 240,578 39,471 Totsl Incom• Expendlture on: Raising lund8 Charitable ath'villes 502,018 147,400 049,410 544,472 4,177 578,022 250,774 147.796 391.570 Tot•1 •xp•ndlturn 2SO,774 147,796 398,570 582, 199 Not 1ncomell•x￿ThdltUrnl boforn t•￿tIon 261,244 13961 250,848 (37, 727) (7, 149) Taxation 11,382 11,382 Netfflov•mont In fundj 262,628 13961 262,230 (44,876J R•con¢lllatlon of fund•: Total funds brought lO￿ard Net movement In funds 6B2,611 282,826 $1,668 13961 734,177 262,230 779,053 f44,876) Totsl funds carrifrd forward 945.137 51,270 996,407 734, 177 The Consolidated Statement of Financial Activities indudes all gain8 and1088e8 recognised in the year. The notes on pages 17 10 54 form part of these financial stalemenls. Page 11

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmitèd by guarant￿) REGISTERED NUMBER: 00830659 CONSOLIDATED BALANCE SHEET AS AT 31 DECEM8ER 2020 2020 2019 Note Flx•d a8s•ts Intangible aggèts Tangible assets Heritage assets 14 7,680 350,345 415,173 15 304,090 413.746 16 781.676 773, 198 Curr•nt •¥••t• Stocks Debtors C8sh at b•nk and in hand 18 19 200 17,3S7 293,549 8,339 21,475 135,376 311,106 165, 190 Credrtorn.. amt>Jnls falling vAthln on• year 20 {96.3751 (204,211) N•1 curr•nt a•••t• I Il•blllt•¥ 214.731 (39,021) Totsl a•••t• IM• curr•nt Ilabllltl 998,407 734, 177 N•t •••ets •xcludlng p•n•lon ••••t 996,407 734. 177 Total n•t a88ots 998,407 734, 177 Charlty fund• Restricted funds.. Restricted funds 51,270 51,666 Total restricted fund5 UnreslriGted fund8 61,270 945,137 51,666 682.511 Total funds 996,407 734, 177 The Company was eniiued lo exemption from audit under seth'on 477 of the Companles Act 20C6. The membern have not required the company to obtain an audit lor the year in que8tlon in accordance wth section 476 of Companles Act 2006. The Trustees acknovAedge their responsibilities for complying with the requirements of the Act wth respect lo accounting records and preparalion of financial statements. Page 12

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlt•d by gu¥rnnteel REGISTERED NUMBER,. 00330659 CONSOLIDATEO BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020 The financlal 8tstemenl8 have been prepared in accordance with the provi8ion8 applicable lo entiles 8ublecl lo the small companies r6gim8. The finan￿81 Statements wère approved and authorised for issue by the Trusl•e8 17J s. th. %21 and signed on their behalf by.. Wooll•y Chaimian ol the Councll The notes on pag•$ 17 to 54 fomi part of these fin4nci81 st8temenlJ. Page 13

AVOMCROFT MUSEUM OF HISTORIC BUILDINGS (A company limitsd by guarantee) REGISTERED NUMBER: 00830859 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 Nots Flx•d a88•ts Inlanglble as8818 Tangible a85els Heritage assets Investments 14 15 16 17 3,840 36D.295 413.746 8,000 7,680 345,377 415, 173 705,801 776,230 Current ••••ts Debtors Cash 8t bank and In hand 19 34.012 264.950 16,001 79,205 298.962 95,206 Credllorg.. amount8 f8lllng due within one year 20 161,6981 (169,704) Not current a•••ts I Ilablllt•• 230,264 (74,498) Totsl n•1 ••••t4 1,016,145 701,732 Charltyfvnd• Re8trfcted fundg". Restmcted funds 61,270 51.666 Total re81rlcte*J funds UnTe8lrlcted funds 51,270 51,666 De8ignaled funds General funds 324.242 640,633 326. 190 323,876 Total unrestricted funds 964.875 650,066 Tol•l fund• 1,016,145 701, 732 Page 14

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by guarantsel REGISTERED NUMBER: 00830659 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020 The Company was entitled lo exempb'on from audit under section 477 of the Companies Act 2006. The member8 have not requlred thè company lo obtain an audrt for the year In questSon in accordance ¥￿th section 476 of Companies Act 2008. The Tw8tee8 acknovAedge their re5ponslbllitles for complying with the requirements of the Act vJith regpect lo accounting records and prepa￿On of finandal slaternents. The financial statements have been prep•r•d in accordance wrth the provisions applicabb to enlilies subject to the small companies regime. The financlal ststements were approved and aUtho￿atd for issue by the TrusteeB and signed ￿ thelr behalf by.. M Wooll•y Chairnian of the Councll Dale.. Th• nol•s on pages 1710 54 form part of the￿ financial glatements. Page 15

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by gu•r•ntsel CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEIABER 2020 2020 2019 Cash flow4 from op•r•ting actlvlti Net C•8h used in operating activities 304,472 f20,563) Ca•h flo￿ from Inv•itlng activiti0• Dividends, interest5 and ren15 from Investments Purchase of tangible fixed a88el8 552 (21,9121 1, 150 (20,965) N•t c••h u•od In Inv••tlng 4ctlvlll•• {28,3601 125,0161 Change In c••h •nd c••h •qulvalont• In th• y•ar Ca8h and cash eqUIv￿ents at the beginnlng of the year 276,112 140,3781 63.815 17,437 a•h •nd c••h •qulvalents *t th• •nd olth• y•ar 293,549 17,437 The notes on pages 17 to 54 fomi port of these financial italemenl8 Page 16

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlt•d by guaranto•1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 G•noral Infornialion The Avoncroft Museum of Historic Buil(Jing¥ 18 8 company limited by guarantee in England, vthose registered office is Stoke Heath, Bromsgrove, Worce8ter$hire, B60 4JR. The comp8ny'8 registered number Ss 0080659 and 115 charity registration number 18 241644. The Members ol the company are the Tru51ees named on page 1. In the event of the Avoncroft Museum of Historic Buildings being wound up. the liability In Tespect of the guarantee 1$ limrted to £1 per member of the Avoncroft Museum of Historfc Buildings. Ac¢ountlng pollcl•• 2.1 B••l• of pr•paratlon of financlal •tat•m•nts The flnancial 81alement8 have been prepared In Accordancts with the Charities SORP IFRS 1021 Accounb'ng and Reporting by ChartUe8'. St8temenl of Recommended Practice applicable lo charllies preparing their accoun18 in accordance ￿1￿ the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard gppllc8ble in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Avoncroft Museum of Historic Buildings meets the deflnltlon ol a public benefit enllly under FRS 102. Ayset8 and liabilities are initially recognl8ed at hl8lorl¢al cost or transaction value unle88 othewse staled in the relevant accounting policy. The Consolldaled $lalemenl of financlal actIv￿leS ISOFAI and Consolidated balance sheet on801idate the financial statements of the Company and its Subsidiary undertaking. The reBull8 of the sub8idiary are consolidale(J on a Ilne by line ba819, The Company has taken advantage ol the exemption allowed under section 408 of the Companles Act 2006 and has not presented ils own Statement of financial activitie• in Iheie financial slatementi. 2.2 Golng conc•m The Trustees have a reasonable expectslion that the charlly ha8 adequate resources lo continue In operational existen¢? for the foreseeable fulure.The 2020 accounts were sgnificanlly impacted by the global pandemic and the Charity obtained lunding from Nats'onal Lottery Heritage Fund and the Arts Counal. The Trustees have made difficull decisions and recognise the current financial situation and further reGognise this could have ￿sSueS remaining a goin9 concem moving forward. However the charity has support of facilities in place from the bank and wlh the operational plan9 in place the Trustees feel that the organi$alion is a going concem and has the abilrty lo remain a going concern in the fijlure. A more detailed note on going concem is in the Trustees Report on page 5. There are no material con¢em$ about Ihe Museums atslty to conts'nue and therefore the accounts have been prepared on a going concem basis. Page 17

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmltsd by guarnrrteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pol1cl￿ Icontlnu•dl 2.3 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustee5 i furtherancg of the general objective8 of the Group and whlch have not been designated for other purposes. Oeslgnated lunds comprise unrestricted funds that have been 8et aside by the Trustees for parb'cular purposes. The aim and usè of •ach designated lund is sel out in the notes to the fin8n¢lal glatemenls. Reslricled funds are fund8 ￿lCh ara lo be used in accordance w¢th specific restrlclion8 imposed by donors oi vthlch have been raised by the Group fty particular purposes. The ¢osls of ralsing and administering such funds are charged against the specific fund. The aim and use of each re8tricted fund18 8et out in the notes lo the fin•ncial Statements. 2.4 Incom• All income is recognised once the Company h9¥ ?nlrtlement lo the income. 1118 probable that the Income VAII be received and the amount of income rècelvable can be measured reliably. Grants are included in the Con501idaled slalemtsnl of financial activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period ig shown in Ihg relevant fundj on the Balance sheet. whe￿ Sncome Is received in advance of entltlement of receipt, 118 recognition is delerred and induded in creditorn as deferred income. Whera enlluernenl occurs before income is received, the Income 18 accruèd. Income lax recoverable in relation lo Investment Income 18 recognijed at the time the investmènt Income is receivable. 2.6 Expgndlture Expendrture is recognised once there is a legal or congtruclive obligation to transfer economic benel to a third party, il is probable that a Irangfer of economlc beneflts wlll be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure 18 classified by aclivity. The cos15 of each activity are made up of the lolal of direct costs and sh8red cogts. including support cos15 involved in undertaking each activity. Direct costs atlribulable lo a single activity are allocated directly lo that aclivily. Shared costs ￿lch contribute lo more than one activity and support costs which are not attributable to a gingle activity are apportioned between those activS1ies on a b8818 consi8tenl with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciab'on charges allocated on the porb'on ol the as5et'$ u¥e. Expenditure on raising funds Indudeg all expenditure incurred by the Group lo raise fund$ for its charitable purposes and includes costs of all fundraising activfties events and non-charitable trading. Expen¢Jilure on charrtable acts'wb'es 15 incurred on diTectly undertaking the activities further the GTQUP'S objectives, as well as any associated support costs. All expenditu￿ is inclusive of irrecoverable VAT. Page 18

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pollcles Icontlnu•dl 2.6 Taxation The Charity is considered to Pas5 the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Company 18 Potents'ally exernpt from laxab'on in re8pecl of income or capital gains received wlhin categories ￿ve￿d by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectic 256 of the Taxation of Chargeable Galns Act 1992, to the extent that such irscome or gains are pplied exdu$ively to Chantable purposes. The trading 8ubsldiary company makes a qualifying donation of 911 taxable profil8 to the Charrty as long as available funds permit. The lax charge present in the accounts relates to th8 the taxable profils of the trading subsidiary vthich were not able to be donated. 2.7 Intsnglblfj •¥¥•ts •nd •mortlsatlon Intanglble 4¥$et5 are Inillalty recognised al cost. After recognition, under the cost model, intangible assets are measured al cost less any accumulated amorti$ab'on and ony accumulated impaimient losses. Amortlsation 18 provlded on Inlanglble a8set8 al ratel calculated to write off the Gosl of each •1sel on 8lralghl-Ilne basiB over SIB expected useful lile. The estlmaled useful lives are a8 fdlows.. Amortl8atlon18 provided on the following basis.. Computer S￿are 3 years 2.8 Tanglbl• Ilx8d assets and depreclatlon Tanglble fixed asset5 are Initially recognised al cost. After recognition, under the cost model, tangible fixed 4ysels are measured al cost less accumulated depreciation and any accumulated Impairment losses. All costs incurred to bring a tangible fixed a85et into ils intended working condition should be Included in the measurement of cost. Depreclation Is charged so a5 to allocate the eogt of tangible fixed a89et8 lesg thelr residual value over their estimated useful lives, Using the slraighl.line rnethod. Depreclation IB provided on the ftAlowng bases.. Freehold property Equipment and machinery Other flxed assets (Play Areal 2% and 8.33% straight line 10% and 25% slraighl line 5% Btraighl fine Page 19

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by guaranteo) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting pollcl•s Icontlnuodl 2.9 H•iStsg• 4g80ts Haiilag& a$s&l$ are recagni8èd on the balance sheol and initially measured at eost vthen purchased or if donated, their valuatson. Assets are subsequently slated al cost or valuation les8 accumu18ted deP￿ClaI10n and accumulated impalmienl losses. F8ir value for donated asset8 are eslimaled by reference lo market prlces. Where infomiation on the cast or valuats'on of heritage a88els is not available or th8 cost of providing such information significantly ou￿e1ghS any benefil lo the users of the accounts then herllage asset are not recognlsed on the balance Sheet. A$8ets wll be pre$grved by the chority in or(ler lo keep thelr hi$loric•l, artistic, scientific. technological, geophysical or environrnenlal qualities lo such a high level as lo contribute lo knowledge and culture. A register of Bll a55etB held by thg chorly is ovailable and the 0gsel8 themselves are acce55ible lo the public with prior agraemenl. Herltage assets are lo be held for the eseeable future. Heritage assets are not depreciated as their useful life is indefinite ￿*th one excepllon, F￿ge Cottage. which haB partial comrnerrAal use and is depreciated on a 2% Straight line ba818. 2.10 InYo•tmont• Fixed aB8el inve81ments are a form of financial in8lTument and are initially recognl8ed al their transaction cost and subsequently measured al lair value al the Balance Sheet date, unless the value cannot be rneasured reliably in which case il is meaBured al cost leBB impairment. Inve81ment gains and losses. whether realised or unrealised, are Combined and presented ag 'GalnsllLogse81 on Inveslmenls, in the Con501idaled 3latement of financial activities. Investments in subsidiaries are valued al cost les$ proviiion for impalrmenl. 2.11 Int•rè$t rocolvabl• Interest on funds held on deposk 18 included when receivablè and th8 amount can be measured reliabty by the GTOUP,. this is norrnally upon notification ol the Intere51 paid or payable by the in8tltuts.on with vthom the funds are dep0311ed. 2.12 Op8ratlng l•a80$ Rentals paid under operating leases are charged lo the Consolidated statement of financial 4dvibe$ on a slraighl line bayis over the lease term. 2.13 Stocks sto¢k$ are valued at the lower of c05t and nel realisable value after mgking due allowance for obsolete and 51ow-moving Stocks. Cost includes all direct costs and an appropriate proportion of fixed and v8ri8ble overheads. Page 20

AVONCROFT MUSEUM OF HISTORIC BUILOINGS IA c¢)mpany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 A¢¢ounting policies Icontinuod) 2.14 Flnanclal Instrumonts D•btovs Short term debtors are measured at transaction price, less any impairment. Cr9dltor• Short term ueditors are measured at transaction price. Cash Cash l¥ represented by cash in hand and depo811s wlh Ilnancial inslilutlons repayable wllhout pen81ty on notice of not more than 24 hours. Therè are no complex financi81 in8truments. 2.15 P•n•lon• Thè Group operates a defined conlributlon pension scheme and the pension charge represents the amount) payable by the Group lo Ihe fund in respect of the year. 2.16 Role of volunt••r¥ The charlty relie¥ on the thrts of its 105 volunteer•. The value of these volunteeri 18 not incorpor8led wlthln the accountj. Crltlcal thccountlng ••tlmats8 and ar•as of JudgmoTrt EBlimales and judgment5 are continually evaluated and ore based on hl3lorical experience and other factor8. Includlng expectations of future events that are beI￿Ved lo be reasonable under the circum8tance8. Cnlical accountlng esb'male8 #nd ayjumptions.. Donallon of equlpment hire (ill Donatlon ol profesBlonal Bervices In accordance ￿th the Charitie5 SORP FRS 102, the charity has valued the benefit it receives from donated 8erylces a8 £NII12019- £Nill. This is based on the open market Value ol the benefits received. Page21

AVONCROFT MUSEUP•l OF HISTORIC BUILDINGS IA comp•ny Ilmlt•d by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Income from donatlon8 and l•gaci•B Unrnjtrlctsd Rmtrlctod funds funds 2020 2Q20 Totsl fund• 2020 Donation8 Grants Govemmenl 9fAnts ftald 67,047 101.149 235.212 3.000 67,047 248,549 235,212 3,000 147.400 406,408 147,400 553,808 Unreslricled funds 2019 R&strtct8d fund 2019 Total funds 201 9 Donatlons Grants Glft ald 47,085 47,085 14,634 14,634 61,719 9,500 71.219 Income Irom ch•rft•bl• •ctlvltl•* Unrostrlctsd lund 202D Total fund• 2020 Total lunds 2019 Events Income Teaching- Schoolg and Adult Education Memberships Admi88ion8 Other income 20,497 11,085 26,965 t34,605 400 11,663 39,404 400 11.663 39,404 51.467 51,467 193,204 P8ge 22

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A eompany Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Fundralslng Incom Incom• frem fundrntslng 8vènts Unr••trl¢t•d fund¥ 2020 Total fund 2020 Tot runds 2019 Fundraising incom• 32 32 354 Inc¢)m• from non ch•rltabl• tradlng actlvitie• Unr••trfctfrd fund• 20 Totsl fund• 2020 Tolal lunds 2019 S41e8 Room hire Othèr trading income 19,203 10,407 1,510 19,203 10,407 1,610 160,923 77,470 1,831 31,120 31,120 240,224 Investmont Incom• Unr••trlct•d funds 2020 Total funds 2020 Total lunds 2Q19 Rental income Deposit account interest 12,439 652 12,439 552 38,321 1,1 12,991 12.991 39,471 Page 23

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by gu•r•nts•l NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 1020 Expendlturo on valslng funds Colts of r•l•lng voluntary Incom• Totsl fund• 2020 Total lunds 2019 Cogls of ralslng voluntary incom• - wage8 and 80larle8 4,177 Analy•l• of •xp•ndlturn by actlvltl•• Support co•t• 2020 Tol•l fund• 2020 rolal funds 2019 Co818 of opgraling museum 398,570 398,S7D 578,022 Page 24

AVOP4CROFT MUSEUM OF HISTORIC BUILDIMGS IA Company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 An•lyBis of eX￿ndItUrn by activitim Icontlnued) An•lyBl• of Support Total funds 2020 Total funds 2019 Staff co$18 Depreuats'on Teaching coursei Demonslralor costs Events Web de¥lgn, sofhvare and IT Support Rent and rates Insurance Light, hèat and water Telephone and 8talion8ry Vl8ltor Service expendlture Promollon and publldty Exhlblllon8 and displays Con8eryatson, maintenance and cleaning Travel Sundr5e8 Collecllon management Sundries Bank interest Bank charges Independ¢nt examiners fee Accountancy fees Professional fees Tru8tee expenyes knDrtisalion Purchases 245.081 16,S94 {8641 12 11,2SS1 4,108 321, 769 18,362 1.688 323 25,191 3.112 2,823 12,417 35,942 7, 142 56 19,205 319 20,026 58 18,299 13.445 6,178 2,464 10,188 23.894 428 202 3,576 74 5,449 5,279 7,945 2,616 4,825 3,534 575 3,840 71.876 3,847 6,197 2,580 6,255 7.919 701 3.840 20.099 398,570 578.022 Page 25

AVONCROFT fyIUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by gL•arnnl•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202D 10. Indop8nd•nt •xafflln•r's r•mun•ratlon 2020 20t9 Fees pay8ble to the Company's independent examinerf(¥ the independent examln8tlon of the Company's annual accounts Fees payable to the Company's independent examiner In respect o l olhei services not Included above 2,680 2.616 8,255 4,825 11. Staff cost• Group 2020 Group 2019 Company 2020 Company 2019 Wagèi and yalarie• Social 5ecunty cost• Other penslon Eo8t8 233,937 4,229 6,915 305,892 10,312 9.742 141,058 3,289 8,173 215,992 8,214 8,571 245.081 325,946 149,520 232, 777 The average numbèr of person• employed by the Company during the y?•r was 88 follows.. Group 2020 No. Group 2019 No. staff 30 52 No employee received remuneration amounting to more than £80.000 In either year. The key management personnel cons15ts of th? tru¥teeB. Museum Dlrector and Deputy Museum Director. The total remuneration paid to the key manaymenl perwnnel wa8 £49,249 {2019- £38,108). 12. Tru•tsM' r•mun•ratlon and •xp•n8•8 During the year. no Tru81ees received any remuneration or other beneffils (2019 - £NILJ. During the year ended 31 December 2020, expenses tolalling £701 were reimbursed or paid diredy to Trustees (2019- £5751. Page 26

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmltod by guavantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 13. T¥x•llon 2020 2019 Corporatlon tax Current lax on net incomellexpendllurel for the year 17.1491 T, 149 Origlnallon and reverBal of ttming difference8 {4.233) Tot•1 dofvrrod tax (4.233 T•x•tion on n•t Incom•ll•xp•ndStur•) 111,3821 7, 149 There were no factor8 that affecled the tax crodrt for the year %thlch ha8 been calculated on nel Incomellexpendllurel al the standard rato of corporation tsx in the UK of 19% (2019 . 19%). There are no factors consldered likely lo affect fvture tax chargei. 14. Intanglbl• a•••ts Group and Company C¢)mput•r •oftwar• Co•t At 1 January 2020 11,520 At 31 December 2020 11,520 Amortlgatlon Al 1 January 2020 Charge for the year 3.840 3,840 At 31 December 2020 7.680 N•t book v•lu• At 310ecember 2020 3.840 Al 31 December 2019 7,680 Page 27

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmitsd by guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2020 15. Tarb9ibl• fix•d a88•ts Group Equlpment other flx•d and a8•0ts (Play m•chln•ry Areal Fr••hold prop•rty Total Co•t or v•luatlon Al 1 January 2020 Additions 487,296 102.486 28.912 43,443 813,224 28,912 Al 31 December 2020 467,296 131,397 43,443 142.136 D•pr•clatlon At 1 January 2020 Charge for the year 153,730 9,656 03,322 3.954 15,827 1,567 262,879 15,167 At 31 Doc•mb¢r 2020 163.386 97,276 17,384 278,046 Net book valu• At 31 December 2020 3D3,910 34,121 26,069 364.090 At 31 D8cemb8r2019 313,566 9, 163 27,616 35Q,345 Page 28

AVONCROFT IIJUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Tangiblo fix•d as80t8 (contlnu•dl Company Equlpment othor fix•d Freehold •nd ••••t• (Play property Machlnory Area Total Cost or valu#tlon Al 1 January 2020 Ad¢Jitions 465,136 72,847 28,912 43,443 601,421 28,912 Al 31 Oecember 2020 465,136 101,759 43,443 010,330 Doprnclatlon At 1 January 2020 Charge lor the yaar 151,570 9,666 68,162 2,781 15,827 1,557 238,049 13,994 Al 31 December 2020 181,226 71,433 17,384 260,043 N•t book ¥•lu• At 31 December 2020 303,910 30.326 28.OS9 360,296 Al 31 December2019 313,566 4,195 27,616 345.377 Page 29

AVOP4CROFT MUSEUM OF HISTORIC BUILDINGS IA comp•ny Ilmltrd by guarantee) NOTES TO THE F114ANCIAL STATEME14TS FOR THE YEAR ENDED 31 DECEMBER 2020 16. Horltago as$ot• Group •nd Comp•ny A889ts rg¢ognl8•d at c￿t H•rltagg asset¥ 2020 Carrying value 811 January 2020 Depmaafjon 415,173 11,427) 413,748 Two aggelg included in Heritage Ass•ls were revalued on 31 December 1994 by John Sandern F.R.l.C.S Cnartered Surveyor. If Heritage Assets h8d not prevlou8ly been revalued they would have been induded at co•1 01 £332,270 12019 - £332,27018nd accumulaleil depreciotion of £22.33312019- £21,505). A reVa￿allon reserve of £103,00912019- £103,608) relating lo these a55elB 18 Included in general funds. Page 30

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limltsd by guar•nte•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEM8ER 2020 16. H•rltage as••t• IcDntlnuod) T•nglble flxed a858ts- h•rltagè #•ts on Bal•n¢• Sh••t The followng iloms ère now on the Museum's balance sheet a8 heritage assets.. Herftag• Ag¥t Y••v ol addlllon Amount to d•t• Forge Cottage Hill End Cottage Hill Crooma d0￿cot0 Domi8lon dolecota Ander8on shelter Threshing machine Airing court shelter Nallef8 ccltage Airaraid sh8ll•r from Dudley mber.Iramed cottage from Snaachlll rimber-frame bam from Dordon. Wa￿ck$hIT• T•lephon& ki08k INorwich lypl Cricket P&ilic 1994 £71,400 £102.000 £2,341 £2,9S7 £1,408 £1,064 £24,124 £214,239 £600 1994 2001 2008 2010 2012 2012 2013 2014 2016 2018 2019 £18,836 £3 £8C £15.0 Total £455,127 Dlspos81• No disposals from the collecllon were undertaken in year. Four year financial summary ol heritage a88el Irangactlons.. Page 31

AVONCROFT IAUSEUM OF HISTORIC BUILDINGS {A ¢0M￿nY Ilmlted by guarnnt•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 2017 2018 2019 2010 car￿'nI amount at beginnlng ofthe reporting perlod Addltlons £376,484 £431.966 £440.127 £45&627 £55,482 £8,161 £18.500 Dlsposals Depreciationlimpairrnent Re-valua￿0￿ Carrylng amount at reporting date £431,966 440,127 £458,627 £458.627 Page 32

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A compony Ilmlt•d by guarnnts•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 H•rltag• a88•ts Icontinuadl A number of small domestic and other objects were donated in year however, no r(em which cOL￿d be regarded significant or valuable, and $0 there are no addition9 to the heritsge 898ets di8c108ure The Museum's heritage assets fall into the followng categorios.. HIBtorlc bulldlng¥ The collection of hiylorlc bulldlng518 sub-divided into the following three cal?gories'. buildlngs rescued and r￿erected on the Museum s srte This collection conslsly 0130 hSslorlc building5 and slrudures which date from belween the 13308 and lale-201h century and thich have been rescueil 8nd rfrerecled as part of the Mu8eum's cdlection al its Stoke He8th 8ile. Each have their own historic significance, however, mo#1 notsble among them Irom # rarlly or uniquene88 value are the Gueslen Hall Roof - a structure dating from Ihg 1330s which was the roof to the Prior of Worce81er'6 great h811 where he entertained guey15, the National Telephone Kiosk collection unique collects'on of every type of GPO and BT telephone kiosk5 Used since the 19208 with additional police. AA and RAC boxe8, and the medieval Town House from Bromsgrove. a ¢1450 h¢Juse whSch WA8 the flrnl Avoncroft exhlbit and therefore the flr81 exhibit lo be rescued by an open-air MuBeum in England. Most of this collectlon are 5Sngle bulldings, though some are part-buildings or slrucluTe5 (Plas Cjthgan & Fibregl883 s￿re> while one is a collection of structures IN8llonal Telephone Kiosk Collectlonl. The Tru81ee8 do not consider that reliable cost or valuation Infomalion can be obtained for the majerlty of the historic buildingg because by their very existence in having lo be rescued and brought lo AvoncToft Museum because of redundancy they have an inlanglble market value. whe￿83 most may have hid a market value In Ihelr origin81 sllu811on had they survived there, this will be significantly dlfferenl now they are collected together at Avoncroft. The Museum does nol therefore recognise these 89getg on its 8alance Sheet, other than recent acquisits'ons vthlch are ￿ported 81 c081, where the object is purchased, or at the Museum Director's best estimates of current value where the object is donated. The cost of any recent Improvements lo assets whose cost 18 not recognised on the balance sheet will be treated a8 an addibon to the reported co81 of as$els on the balance sheet. The Museum 1$ therefore ￿ports'ng these holdingg based on orfgin81 cogt wrth any Improvements costs incurred classed as additions in year. However, any maintenance costs incurred Sn the year are expensed in the statement of financial actiwties and not ¢api181ised on the balance sheet 89 Ihege costs are Incurred lo preserye the original slate of the building. During the year maintenance c0515 amounting lo £365 were spent as shown below. These costs have not been capilallsed on the ba18nce sheet as they are not classed a5 improvemen18 to the buildings. The Trustees consider all of these exhibits have an indefinite life and does not therefore depreciate them. P8ge 33

AVONCROFT MUSEUM OF HISTORIC 8UILDIt4GS IA company limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 16. Horitage assèts Iconllnuedl Herltage A89et8- HI81orfc Bulldlng8 re-erecled at the Museum Cost 3111212019 Addltlon• In Co 3111212020 MalTrtenan¢• Colts in med1￿1 Town Hwye Plas Cathrfan Gue$len Hdl Windmill £8,523 £8,523 £13,504 £819,935 £28.586 £988 3.438 £1.778 £13,504 £819,935 £28,586 £988 £3.438 £1.776 Nail3hop Chgin8hop Granary Striro of Fl)r8•1 £89,698 £89.698 Threshing Bam Ccckplt £10.255 £44,639 £10,255 £44.839 Cwnllng Hou•• £7,021 £7,021 Rxk8aw £15,577 £15.732 £13,889 £29,937 £30.315 £25.3C £31,347 £15,577 £15,732 £13,889 £29.937 £30.315 £25.3D8 £31,347 £44,764 £46,462 £42,241 Stable Wagon Shed Prefd) Icahou¥• Pri DO￿oIe Toll Hou8• Cdl Block Pury Mill T￿epI￿ne Ki08k8 Mission Church Fibrela88 Spirp £46,462 £42,241 £186.198 £106,198 £59,533 £59,533 £45,340 £45,340 £1.392.￿2 £1.392.982 Page 34

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS (A company Ilmlteil by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 202D 'Maintenance costs in the year are expensed through the statement of financial activities. In 2019 Avoncroft has had a year of limited spend on buildingg. The main spend has been the rescue of various omponent parts that fomi a Victorian Cricket Pavillon from Worcester. In addition the Trustees consider Forge Cottage, an 18th-century timber-framed house wth attachgd farrier's forge which was rescued from Wellinglon, Herefordshire as a heritage asset. Although 'principally held lor its contribution lo knowledge and CUhu￿,, approximately 80% of the building is currently used for Museum ¢)ffice8 and the Museum's Library and Archives, so the Trustees wll depreaate this building at 2% per annum a residual value of 40%. Vlsits lo thè bulldSng to consult the Library and Archlve gre available to the public by appointment. Page 35

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by gu•v•ntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEhlBER 2020 HorStage as50ts IGonllnuedl At the point the majority of the building 1$ used for its heritage value, il wll be consldered solely a heritage a8get. 8nd al that point would cease to depreciate. other h•rilage assets, the Guesten Hall rool and the String of Horses bulldlngs currently prowde an element of wnmercial use. The Gueslen Hall is open to the public as an exhibit for more than 85% of the lime during Museum opening hours 8nd15 used for approximately 25 weddlngs and S conference5 a year. The Slrtng of Horses uses about 25% of 118 space for the Museum's Edwardian Tea Roorn and further areas are used for other museum functs'on8. The Truytees consider that both are held principally for their use as a Heritage Assets and their hlstorical contn'bulion lo kno￿edge and culture. HistOliG bulldings rastornd Inrysilu and owned fr98hold 8way Irom the Museum As well as rescuing buildings and moving them to the Mu8eum, Avoncroft in ils eady year5 restored ieveral redundant buildings or 81ructure8 in silu, and in some cases acquired these al freehold propertie8. Two bulldlngslstruetures are still held on this basis, A box Ilmber-framed dovecote originally part of the Moat Fann, Domislon. Worcèsttrshlre. Co81 £2,341. 0￿ed freehold bl A cruck limbor.framed dovecote al Glebe Farrn, Hill Croome. WorGe5tershlre. C08t £2,957. Owned freehold The Museum considers these assets to h8ve indefinite life and Iherelore does not depreclat• them, 8llhough they 8re accounte(J for on the balance sheet. Hislonc bU￿dingS in the course of re-erection on the Museum s slle orslor8d In an￿CipatIOn of rg.or8clion in the future Nailer's Cottage A project lo rescue a mid-191h ￿ntUry collage, represenlatsve of those bulll for the Brom$grove ngiling trade, was begun in 2012 following permission to dernollsh It had been granted. A Your Herllage Lottery Gr8nt enabled the disrnantling of the bullding. and in 2014 Phase l ol the rtrerecb.on began al Avoncroft. Year 2012 2013 2014 2015 2018 2017 2018 2019 21r20 Prolect ¢0 28,235 9,484 114.502 5,836 88 48.895 7,198 3,500 Totsl to d•ts 217,739 Page 36

AVONCROFf MUSEUM OF HISTORIC BUILDINGS IA comp•ny Ilmltsd by gu•v•nteo1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Herltag• as8Ots Icontlnu8dl The prolecl incurred costs vthich are accounted for on the balance sheet under the acquisition ¢f g new heritage asset. Phase 11 of the project, to complete the interior of the rescued building beg8n in 2017 has was completed in 2020, with the building openlng lo the public durlng the Autumn. TIm￿r-frIMed cottago ro•cu•d from Sn••¢hlll, Wor¢•stsrnhlr• Follovlng the gran￿ng of demolition permls$lon, Avoncroft negotiated wilh the owner over Ihe dismantling and rescue of a timber-lramed cottage believed lo dale from the lalfr171h or 18th century wlih 8ubslgnll81 brick addllSot)s dallng from the middle•191h century. The cottag8 was dlsmanued durfng September and October 2014. Yèar 2014 2015 2016 2017 2018 2019 2020 ProJ•ct co•ts £338 £18,500 £0 £0 £0 EO £0 Totsl to d•t• £1B,836 The cott8ge cUrren￿Y awaiting re-eréetlon on the Mu86um'1 811e. 8•rn frarno from Dordon, North W•rwlcknhlr• The Museum haj recently been given a partially-restored fraffle of a box-frarned threshing bam dismantled $ome years ago from near Dordon In North WarwickshiTe. Avoncroft has accepted thi5 on the basi8 that I 19 an additional herrtage asset, however, once rebuih. may be a5 a visllor faulilies, education or storage building, rather than as one of the Museum's agricultural exhibits. So far, the only costs associ8led vlth this building have been the c05t of transporting the components of the timber frame from storage from Beoley, Worcesterghlre. The bam frame is temporarily stored opposite the Museum's Shovhnan's Wagon building. Y•ar 2016 2017 2018 2019 2020 Projoct Costs £360 £0 £0 £0 £0 Total to dat• £360 Page 37

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limltsd by guarantsol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 3020 18. H•rltag• as8ots Icontinuedl 4J Tolephone KI￿k. c1905 01 the 'Norwlch' type The Mu6eum acquired a very rare early telephone kiosk from before the GPO (General Post Offieel became the national provider of telephone seN¢es and public call boxes in 1912. Thought to have been installed c1905, the ki08k is a wooden structure ol the 'Nonvich' pattem which was the pre-slandardisatlon shelter de91gn for public telephone8 in use by the National Telephone Company in the Eayt Anglla region. Originally sited al Gonville Place, Cambridge it has been acquired Irom the family ol a collector vkno rescued il in the 19801. The Museum 1$ very grateful lo an anonyrnoug donor who funded the purchase £8001 lor Avoncroft. Although acquired in 2017, the kiosk dld not arTlve at the Museum until early 2018. Signrficgnl restorats'on of the klosk i¥ requlred bul of 2019 h9¥ yel lo lake place. Year 2018 2019 2020 Totsl to date Prol•¢t co• £0 £0 £0 Crlck•t Pavlllon from Worco•ter Clty The Museum ha8 gcquired the remains of 8 Victorian Cricket Pavilion which was once home lo Worcestershire Cricket Club. The building ￿11 make an interesting exhibit lo tell the story of Midland sport once rebuilt. a prolecl that wll take significant investmer5t. 11 was dismantled In Summer 2019 and Is currently stored lemporarlly opp0501e Ihe ShowTnan'$ Wagon building. Year 2019 2020 Total to date Prol•ct co•1• £15,OlYJ £0 £15.000 Bulldlng r••cu•d In the pa•t Watsr mlll & machlnory from T•mpl• B•ls•ll F•rm, T•mpl• Balsall, Sollhull In 1983 the Museum rescued parts of a farm mill and the water mill wheel and machinery. The Project lo re-erecl thi5 building was attempted fvth'ce by the Museum once in thè 1980s after acquisitson and agaln In the 19905, however the 35gnlficanl lundbng required was nol achieved and the machinery and some building parts remain al the Museum. The original c081 of the re8cue of the machinery and building parts was £14,738. The Museum ¢onslder8 this to be 8 heritsge asset not on the Balance Sheet. The Museum considers that this building wll form part of a major development at 80me point in the bjture. 7] Plg Sty from Longdon. Worcestershlr• A small wooden pig sly was rescued in April 1978 from Longdon, Worcestershire al a c051 of £528. Akhough ihe roof structure was knovm. it wasn't until after recent digitisalion of some of the Museum'5 slide Images from th5$ period, that il was ￿811$ed that several sections ol the wall struclLbre were also stored nearby and enough of thi8 building suNives to re-e￿ct rt. Page 38

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2020 16. Horltsgo a88•ts {contlnuedl Larger nonulldlng h•rltsg• a••ets Carts, wagons, agriculiural equipment and other mobile exhibits ShowTnan's Wagon From 1991 1998 the Museum undertook the re8loT81ion ol a 1910 Showman'8 living caravan whlch had been presented to the Museum by the surviving chlldren of the orfglnal owner Tom Clarke. The elaborate interior and the mahogany panelled exterior were carefully conserved, new wooden vtheel$ made instead of the replacement pneumatsc onE8 and the omamenlal paintsvork scenes on the interior were all restored. In order lo preserve thi8 work a special exhibltbon shed Nmlh inlerpretalion about the history of funlair showmen, the Clarke family and the wagon was conytrucled lo hous811. The cost lo reytore and hou this exhibit was £95,827. bl Rood mender8' Wagon The Museum was given 9 1911 Worcesler6hire County Councll Toad mender8' living wagon in 1972 whl wa5 then restored by the Museum. It 18 thought lo have been made by Rickett8 Bros and was van No. 21 n the Council'$ fleet and was certainly in use until 1949, and posslbly as late 83 1957 when Il was put into storage at the Stanford depot until il was given to the Museum. The 'Cale¢Jonia Queen, c881-iron glove th which il Is now fitted wa8 removed from one of the other redundant wagons. The cost of the originol Tesloration was not recorded in the Mu8eum'8 Annual Report or Accoun15 in 1972. Significant work ￿d9 undertaken again in 2005 and 2015 to repair and re-P8inl the wagon which because ol itB ze, and lack of an appropnate bulldlng, ha8 been di9pl8yed In the open. Mlllerfs Wagon Thi& vehicle w4s rescued Irom Arrow Mill, ne8r Alcesler, Warwckshire and presented lo the Mu8eum In 1980 by Mr Tony Carr and was restored in 1983 by Mr MSchael Horfer al R8dford near 8ath. 1113 thought lo have been built by Glovers of Warwck at the end of the 19th century. The cost of the onginal resloralion wa5 not recorded in the Museum's Annual Report or Accounlg In 1983. dl Fire ladder The 'curricle' wheeled firfrescape ladder was used as a ba81c flreflghllng engine and extendlng ladder al Umberslade Hall, Tanworth in Arden, Warwckshire. 11 dates from the late-19th century. GPO Morris Minor van Thlg van, DVLA Registration NLW 918, during it5 working life was under the control of the Telephone Manager, Chester and was first registered in 1959. This vehide was part of BT'S Historic Vehicle Fleet Collection and was transferred into Avonvoft'8 owner8hip at the formal opening of the Kiosk Collection. It 18 kept in working condition. Page 39

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilfflited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 10. H•rltago asset• Icontinuedl Agrlcultural exhlblts The Museum holds an exiensive agricultural collection including machinery, hand tools. animal and tractor-dr8wn equipment. The stored collection8 of hand-tools have been catalogued and the Museum will 8hortly be undertaking 8 guNey of the larger-scale machinery. None of these collections are known lo be of 9ignlflcanl v8lue, Notable larger items of agricultural equipment include a 19308 reaper-blnder, early 20th century hay elevator, a collection of ploughs, harrows, rolavalors and 8eed drills, two Lister 8t8tionary englne8 and various items such •$ ch8ff-wtter8, 8g¢k lifts, butter making equipment. Archltectural and bulldlng• coll•cllon The Museum holds a W￿￿rangIng collection of items relating lo the buihjing trades as well as 8 Study collection of architectural Iragmenls and materials including a subslanlial collection relating to the brickm3kn.ng trade. There is alyo 4 large collectlon of woodworking tools suitable for both the cabinet- making and lolnery Ir8de8. Some of %thich are on display In the Inlroduclory Exhlblllon. Flr•-m•rk call•ctl¢)n The Musoum hold8 a slgnlflcant collection of metal In8ur2nce flre-mark8. Th18 colleth'on, w88 donjled by r Peter Coard, an¢J was valued In 2004 at £30,000 by Mr Phil Morris, a commlttee member ol thè Flrn ark Circle society. In 2016 Avonuoft acquired three high.quality large museum display cases and displays Incorporating a 8 selection of the fire-marks are now viewable by the public, along vllh contextual dlsplays 8boul the history of how fire affects buildings. Oth•r •mall exhlblts Many of the buildings vthich have been rescued hove also had ¢ollection$ of appropriate Contents collected for display In the re-erected exhibit. These include appropriate trade tools. fumishSngs and flttlng3, diJne81ic item8 and conlexiual malerlal. The Museum also collected a stored collection of small objects which were lo be used either in exi8ling or future exhibit buildings QT lor other a8PeCt8 ol the Museum's displays. Art Sir Hugh Ca8son watercolours.. Sir Hugh Ca5son 11910-1999} was an architect, artist, inlenor designer, writer and broadcaster who became the fir81 President of Avoncroft Museum of Bullding8 in 1983 until he retired in 1992. These four walercolour wews of Avoncroft were glven by Sir Hugh in 1991 to aid the Museum's fundraising efforts. Value 8pproximalety £350 each, based on other walercolour drawngs by Ca$8on sold in the UK in 2006-2012. Valuation by Simon Carter, previous Museum Director, March 2014. Page 40

AVONCROFT MUSEUM OF PIISTORIC BUILDINGS IA company limlt•d by guar•nt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2020 11. Horltsge a•sets Icontlnu•dl John Piper1190>19921 John Piper was a150 inVo￿ed In the Museum in the early years and the Museum and supported fundraising. Avoncroft owns prints, one calle(I 'Avoncroft Museum, 1115 119781 value approx £2,200 based on other versions ol this Print either sold or available. The fact this is the first of numbered ed￿'On adds to rts value. Valuabon by Simon Carter, Director, M8rch 2014. The second is of Wightick Manor, Wolvèrhampton 29175119771- value approx £2,300 - based on other prints sold 201&2013. In Origin￿ frame. Valuation by Simon Carter, prevlous Museum Olrector, March 2014. The Museum also hold8 a Small collecllon of engravings. modem watercolour8 and Pflnls of the Mu8eum or related view3. None of these are thought lo be worth rnore than £300. Archlv• The Mvseum holds an •xt•nslve orchive of publbshed books, paper and photO9raphlc record8 of the history of the IAuseum and historic Midland8 buildings both extant and destroyed. While full catalogulng of the collection 18 81111 Unde￿aY, it has not been po$$ible yet to Idenllfy any individual Items which are of high value, however, there are holdings of Some rttlallvely rare 18th and 19th century books and documents relating lo the building trades, architecture and English history. Prns•rv•tlon ¢￿t¥ Expendilure thlch, In the TNslee8' view, 58 requlred to preserve or clearly prevent further delerloratbon of individual collection items is recogni8ed in the Income and Expenditure account when it 58 incurred. Loan• In or o The Museum ha5 a very small number of loans lestimaled less than 30 objects ègainsl a ball park figu of 14.000 objects in the collectionl however 6 of these are large scale items ￿lch are lon*lerm or pem1anenl ltsan#. 11 Concr818 'Tardis' 8tye Glasgow Police box (hxed to concreted Surface and would require a crane lo rnovel. Loan a regular bag18. 21 Sel of Victorian elaborate chimneys approx 7-8 foot high and Sel onto concrete base - lent 1973. Currenuy trying lo estsbli5h contact with deceased lenders famlly. 31 Mobile telephone exchange l¢urrently wired into Museum'g kiosk collectlon and blocked in by subsequent landscapingl. This large tr8iler type wheeled vehicle is an integral part of the Kiosk Colleclic and Is ovmed by a long-term Mu8eum volunleer. 41 ShowTnan's Wagon - a very lar￿ living wagon on 'permanent loan, from descendants of the orlglnal showman and his wife. The family were reluctsnl to donate the ilern when il came lo the Museum in the 199Os but In order lo raise grant fijnding an agreement was reached whereby the major grant giver. NHMF, was to be consulted if ever there was 8 need lo move it from Avoncroft, and that an altematlve Museum or publlc place would be found lo display it. Page 41

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 H•ritag• as•ets Icontlnu•dl 51 Brickmaklng machine large Victorian demonstr81ion model for producing mlnialure bricks lo demonstrate the method al trade f8ir9 made by C. Whittaker and Co. Ltd of Accrington, Lancashire Is on loan from a private individual. 61 Restored GWR Good8 Wagon- thi8 rescued wagon was nearly entirely rebullt using the origin81 which dated from the end of the 19th century as a pallem and re-usSng the $uNiving ironwork. It was plgced on long-lem loan at the Museum from a private individual who funded (t5 resloralion in 1991. A grant to carry out urgent repairs was recebved in 2013 and work ha¥ begun on the Tesloralion. The remaining loan items are all small $cale, ond are on 108n as indlvidual or gm811 groups of items. Exlstlng loan grr8ngement8 are being con8Idered a8 part ol the calalogulng proce88. Lo•n• out The Museum has lent 4 decorated gable end from Lloyd'8 Man8ion, Shrewsbury for 8 period of 10 yeJr¥ Ibeginning 20101 to Shrewsbury Museum. Pr•8•rv•tlon ind manig•m•nt Avoncroft Museum Is an accffjd+ted Museum under the scheme gdminislered by Art8 Council England. The Museum employs a fulklime Head of Projects and Interpretation a8 one of 115 Senior Managers. The postholder manageg the collectlons in accor<l8nce wllh poliae8 that are approved by the Tru8teeg and are in line wth the Arts Councll Accredltation scheme. Further inforn)alion on the Collection IB provlded Sn the Museum's 8epar8t8ly published Acqui811ion and Disposal Pollcy, Collections Procedure8 Manual and BuildingB Maintènance Plan. Copies are available on requeil. A6 explained In the Acqulsllon and Di$poAals policy, heritage assets in the collection are only dlsposed ol en, in the oplnlon ol the Trustees, there Is a good curatorial reayon that the ilern does not contribute lo th• Interest and dlver8ity olthe Museum's collects'on. 17. Flxed aB¥•t Invo1lm•nts InvMtsn•nts In subsidiary companie• Comp•ny CoBt or valuatlon At 1 January 2020 8.000 At 31 Oe¢ember 2020 8,000 Page 42

AVoNCR0￿ MUSEUM OF HISTORIC BUILDINGS IA c¢mp•ny Ilmlted by guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 18. Stocks Group 2020 Group 2019 Finished goodg and good8 for re¥ale 200 8,339 19. OfjbtoY* Group 2020 Group 2019 Comyny 2020 Company 2019 Du• withln on• yo•r Trade debtors Amounts owed by group undertakingj Other debtors 1,036 2,028 706 29,990 4,022 18,321 19,447 15,295 17,367 21,475 34.012 16,001 Page43

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS IA compjny Ilmltfjd by gu•r•nt•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 20. Credltors: Amounts falling du• ￿1th1￿ ono y•ar Group 2020 Group 2019 Company 2020 Company 2019 Bank overdraft8 Trade creditors Corpora￿on tax Other laxalion and sodal security Other credilors 1IT,939 33,168 7, 149 6,306 39,649 117,939 29,469 60,810 40,237 6.737 28.821 3,971 24.489 1,745 20,551 96.375 204,217 68,698 169, 7Q4 The bank overdraft of £Nil12019- £117,939115 Becured on the a88el$ of the Charity. D•f•rr•d Inc)m• Group 2020 Group 2019 Company 2020 Gompany 2019 Deferred Income at 1 January 2020 Amount prowded ftr in the year Amounts released from previou8 periods 11,755 11,755 4,233 (11, 755) (11, 755) Doferrod Inc4)mo at 31 D•¢omb•r 2020 4,233 Page 44

AVONCROFT MUSEUIA OF HISTORIC BUILDINGS {A company limitsd by guarnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 21. Ststsment of lund8 - curr•nt y•ar 8alance at 31 D•comber 2020 8•18nc• at 1 January 2020 Incom• EXpendI￿r0 T•x•tlon Unr••trlctod fund• Do•lgn•t•d fund• Windmlll- ca8h fund 8rtngsty- cash fund Education- ca8h fund Town HouBe- cash fund Wildflower M•adow- cash fund Building rescue and improvements- ¢8¥h fund Legacy fund8- C88h fund Fundraising account- cajh fund 160 11681 1681 12 1921 1,619 11,6191 Access improvernenls Llbrary archive8 Education support Airing Court Shelter Nailerfs Cott8ge Building rescue and Improvements J'r Raid Shelter Sneachill Cottage GoSng Forward lo Excellence Cricket Pavilion 214 284 188 174 23,869 213,637 174 23,869 213,637 4,327 600 4.327 600 18,836 47.327 18,836 47.327 G•noral fund¥ Gen•ral funds General Funds- all fiJnds JS8,321 602,018 1248,8261 11,382 620.895 T¢)tsl Unrestrleted funds 682,511 602,018 1250,7741 11.3e2 945.137 Page 45

AVONCROFT hlUSEUIA OF HISTORIC BUILDINGS IA c¢)mpony Ilmltod by gu•ranteo) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR E14DED 31 DECEMBER 2020 Restrlctod fund• Bringsty Church Windmill 2,558 1,350 1,701 4,674 2.558 1,350 Milling al Avoncroft EdUCa￿on Training Town Hou8e Interpretation Kiosk Collection Alring Court Shetter WIILlflower Meadow NoileT'B Cottage Rack8 GWR Railway Wagon Wi8leria Cott8ge from Sneachlll Costumer Re*naclmenl Prtslect Thre8hlng Bam Primrose Hosplce Pla8 Cadwgn Hill End Cottage Young People'8 Volunlfjering Bromsgrove inslriule Protedon of Hi8toric A88el8 11,7011 11.3751 3,299 3,000 1,239 1,200 1,701 2.127 863 3,000 1.239 1,200 2.701 3,388 908 388 11,261 388 2,860 2,860 354 354 64 20,000 417 440 20,000 417 1440) 5,934 1,500 5,934 11,5QQ) 3,000 141 NOO 147.400 3,000 (141,40DI (147.7961 61,270 Total of fund• 734,177 649,418 {398,5701 11,382 996.407 Page 46

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by gu*ranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2020 Statsment of fvnds- prfor year 88lance at 31 Dec8mber 2019 B818nce at i January 2019 Tr8nsle In/oul Income Exp8ndllur8 Unr••trlctod funds O•¥lgn•l•d fund¥ Windmill- cash fund Bringsty -cash lund Edu￿￿.0￿ <gsh fund Town Hou8e- ca8h fund Wlldfiowor Meadow- cash fund 168 168 68 68 1,750 195 (1, 750) (1951 92 92 Building rescut and improvement8 -Ca8h fvnd Legacy funds- cash fund Fundraiiin9 ac¢tyJnl- caih fund A￿93¥ Impiovemenls Library archives Education 8UPPOrt Airing Court Shelter Naile￿8 Coltage Building rescue and improvements Air Raid Shelter SneachS11 Cottage Going Forward to Excellence Brlcket Pavillon 16,619 1, 750 (15,000) (1, 750) 1,619 710 (426) 1282) {180) 470 354 23,869 212,232 174 23,869 213,637 1,405 5,243 6CQ (916) 4,327 600 18,836 53,403 18,836 47,327 15.000 f6.076) 75.000 Designated Funds- all funds 336,360 (10, 170) 326, 190 Ggn9r•l fund• General Funds- all fund8 358, 130 534,972 (555.2871 18.5 337.821 Total Unr•strict•d funds 694,490 534,972 f555,28q) 8,330 682,511 Page 47

AVONCROFT MUSEUM OF HISTORIC BUILOINGS IA comp•ny Ilmlted by gu•r•nt•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIABER 2020 R•*trlctsd fund• Bringsly Church Windmlll 2,649 2.061 15,000 4,229 842 1,044 1,200 2, 701 2,75T 4,409 430 2,850 (91J f7111 f13,299J {1,555J (842) 2.558 1,350 1, 701 4,674 Milling at Avoncroft Educglion Training Town House Interpretation Kiosk Collecllon Airing Court Shelter Wlldflower Meadow N•ilerf8 Cottage Rack8OW GWR Railway Wagon Wi81eria Cottage from Sneachlll Costume Re-enactmènt Project Thre8hlng 8am Primrose Hosplce Pla$ Cadwgn Staff Jupport Hlll End Cottage Cricket pavilion Tree Surgery Young People's Volunteèring Restricted grant 888el depreciation charge 2,000 195 1,239 1,200 2, 701 3,388 908 388 2,850 f2,369J f2,096) (421 (1,405) 414 (60) 354 64 64 20,000 417 20,000 1,473 440 (1,056) 440 (3,000) f66) 5,934 15,000 {15,OOOJ 11,000) 1,500 (7,880) 7,880 84.563 (34,067) (8,330) 51,666 Total of fvnds 779.053 544.4r2 (589,348) 734, 177 Page 48

AVONCROFT MUSEUM OF HISTORIC BUILOINGS IA company Ilmited by guaraTrts•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIBER 2020 Restrlcted Funds Brfng•ty Church For ongoing maintenance of the twikling. WlndmS11 For repair and maintenance of the buildlng. Mllllng at Av¢)ncroft For the development of flour milling and the inlerprolalion of the agricultural building5 at the Museum. Educ•tlon For research & development of new programmes and aclive eaming and access for young visitors (including under 581 and to support aysocialed leaming staff costs. Trnlnlng To fund the tr8lnSng ol staff and volunteers. Town Hou¥• Interpr￿tIon To fund Interpre￿Ve conlentj for the building Ihisloric objects and replica81. Klo•k Coll•ctlon For maintenance and repair of the National Telephone Klosk Collection. Alrlng Court Sh•llor For the di8manlling, reverection and repalr of the building. Wlldllow•r Ma•dow For the maintenance And development of the Wildflower Meadow. N•ll•r'• Cotlage For the dlsmanlling, re-erection, inlerprelalion and repair of the building and garden. Rleksaw For ongoing maintenance of the building and historic equlpment. GWR R•llw•y Wagon For repair and malnlenance of the wagon. Wl•t•rla Cottag•, from Sn•a¢hlll For the dlgmantllng, re-erection and repalr of the building. Cgstuffto R•4n4¢tffl•nt Project To fund the project web81te volunteerlng portal lunill 20181. Thr•shlng Barn For rtrthalchlng the bam roof. ACE . Golng ForvArd to Exco11onc• To undertake work lo improve the Mu8eum'8 overall resilience based on Ihe Arts Council England Support yoject applicatsm. Prffflrose Hosplc• To provide respite 8ctiwlie8 for the u8er8 ol the Prfmro8e Hospice and their families. Plas Cadwgn For ongoing maintenance of the building. Compo•t Toll•t To provide a composting toilet faalty. St•ff Support To fund the cost of staff post5. Page 49

AVONCROFT MU3EUM OF H18TORIC BUILDINGS IA company Ilmltsd by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2020 Hill End Cottag• For repair and maintenance of the bulldbng. Elmley Found•llon - Art¥ Event¥ 8mall grant fund To support a one-off art# perfomiance IRomeo and Juliell as part of the Brom5grove Festival 2018. Cricket P•vlllon For the dismantling, re-erection and repair of the building. Tr•• Surg•ry For undertaking necessary tree surgery around the Museum'8 ground8. Young Peopl•'• Volunt••vlng To recrull and provide more volunteering opportunlts'ey and encourage particlpolion for young people to 8UPPOrt th¢ work of Avoncroft. 8rom•grov• In•lltut• For the purp08e of refurblshmenl of historic horse drawn wagon. Pr¢t•ctlon of Hl•lorlc A•••t• For the protects'on of historic ass•li Tfan•f•rn bot￿••n fund• The transfers from re8tricled to designated fijnds represent restricted funds used for capital 8pendlng on aBsets that weTe recorded as designated on the balance sheet al the dlgcrelion of the trustees. Tho Ir8n$f¢r$ from de¥i9naled lo restricted funds represent the allocallon of the depreciation charge8 on 88ets bought u8lng re8tricted funding that were subsequently recorded as design81ed assets. The Iran8fer$ from designated lo general fundB represent the trustees declslon lo unallocale unreslrlcled funds previously sel aside for specific purposes. Oonor• and Gvlnts In 2020 8oufnville Village Trust L G Harris Trust Arts Council England,. Golng Forward to Excellence Project Bromsgrove Council The Oelves Charitabke Tryst L.J.C. Fund The lan Addison Charitable Foundation George Cadbury The Bower TTU81 R A & V B Reekie Trust Bimingham Common Good Trust Other £37,000 £10,000 £165,549 £2,750 £5,000 £10,000 £6,000 £43,000 £4,000 £3,000 £1,500 £27.797 Page SO

AVONCROFT MUSEUM OF HISTORIC BUILDING8 IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 22. Summary offund8 Summary ¢1 fund8- current ytrar Bal•nco •1 31 D•¢•mb•r 2020 8alanc• at 1 January 2020 Incom• Exp•ndltur• Taxation Designated funds General funds Restricted funds 326.190 356,321 51,661 {1.9481 1248.8261 1147.7961 324,242 620,895 51,270 602.018 147.400 11,382 734,177 649,418 1398,670} 11,382 996,407 23. An•ly•l• of n•t a•s•ts ￿tween funds Analy•l¥ of n•t ••s•ts b•lw••n fund• . currnnl pgrfod Unmtrlct•d R￿trICtsd lund4 fund• 2020 2020 Total fund¥ 2020 Tangible fixed 088ets Intangible fixed a38ets efitage assets Current assets Creditorl due bmlhin one year 364,090 3,840 413,746 259,838 198,3751 364.090 3.840 413.746 311.106 190,3751 51,270 Total 945,137 51,270 996,407 Page 51

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2020 23. Analysis of net a•B•t• b•twwn funds {continuedl Analysls of net as5frts between fi•ndB- prlor p•rlod Unr8slricted funds 2019 R8slncted funds 2019 Total thnds 2019 Tangible fixed assets Intangible fixed a81•ts Heritage assets Current assets Creditors due Nmthin one year 350,345 7,680 415,7T3 96,247 (186,934) 35Q,345 7,680 415,173 165, 190 f204,211) 68,943 fl 7,277) Total 682,511 51,666 734,17T R•¢on¢lll•tlon of n•t fflov•m•nt In fund• to not c••h flow from op•r•tlng •ctlvlll•¥ Group 2020 Group 2019 Nel Incomelexpendilure for the period laj per Statement of Flnancijl Activities) 282,230 {44,876) Adlu•tm•nt• for: Depreciatson charge8 Amorb'salion charge8 Dlvldend8, Interests and rents from investment• Decrease in 8tock8 Decrease in debtors Increaselldecreasel in ueditors Tax charge on trading subsidiary 16.$94 3,840 IS52 8,139 4,118 18,185 111,3821 18,362 3,840 (1, 150) 2,084 45,888 (51,860) 7, 149 N•t ca•h provlded byl{u8•d in) oporatlng acllvltl•v 301.172 {20,563J Poge 52

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmttod by guarantso NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 25. AnalysiA of c••h and ¢••h aqulvalents Group 2020 Gn)up 2019 Cash In hand Overdraft facilty repayable on demand 293,649 135,376 (117,939) Tot1 c•#h •nd ca•h •qubv•l•nt• 293,649 17,437 Analysis of ¢h•ng•• In n•t d•bt At1 January 2020 Ca•h flow• At31 O•c•mbor 2020 Cash al bank and in hand Bank overdraftB repayable on dtsmlnd 136.376 (117.939) 158,173 1 f 7,939 293,549 17,437 276,112 293.541 P•n8lon commltm•nts The Charity operate$ a defined contribution penslon scheme. The asse15 of the scheme are held separately from those of the ChgrSly in Independenuy adminSsler•d funds. The pension coyl ¥hown in note 11 repregenls the Gonlribulions payable by the Ch8rlty lo these fund8. 28. Operatlng ha• ¢ommltmonts Al 31 December 2020 the Group and the Company had commitments to make future mlnimum lease P8yment8 under non-cancellable operab'ng lea888 08 follows., Group 2020 Group 2019 Company 2020 Company 2019 Not later than 1 year 1,410 1,410 29. Princlpal suhldlarle* The following was a sub¥diary undertaklng of the Company.. Page 53

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS IA company Ilmlt•d by guar•ntoo1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Prlnclpal subsldlarlH Icontlnu•dl Nam• Company numbor Cla•• of Holdlng Includ•d In consolldation Avoncroft Entsrpri¥es Limited 03303524 Ordlnary 100% Ye¥ The flnonclal results ofthe 8ub8ldl8ry for the year wère,. M•m• Incom• Exp•ndltuY• ProfiV(L￿9) I Surplu81 ID•flclt) for tho year Net ••••t• A¥￿er0ft Enterprf8eA Llmited 84,341 130,524 152.183) 111,7381 Page 54