2021-12-31-accounts

Reglstered number: 00830659 Charlty number.. 241644 AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA Company Ilmlt8d by guaranto¢1 CONTENTS Page Reference and admlnlstrative detalls of tho Company. Its Truste￿ and advlsèr6 Trustees. report Ind¢pend8nt examineV$ report Consolldated stat•mont of flnanelal actlvlti 10 Consolidated balance $hg8t Company balance sheet 13-14 Consolldated s1*oment of cash flo Notos to the financial stat•m8nts 16-52

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltod by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees M Woolley Iresigned 26 April 20221 A Hurley N Psirides Iresigned 26 April 20221 K Gee, Chalr M Amistrong, Vice Chair P Richmond P Rellly S Pope (appointed 27 January 20221 A Wood lappointed 21 Novgmber 2021} D Robinson, Treasurer Company règlstered number 00830659 Charity rogisterod nUM￿r 241644 Reglstered office Stoke Heath Bromsgrove Worcestershire B60 4JR Key management team Zoe Willems, Director lappoinled February 20211 Abbey Butler. Commercial Manager lappoinled Novembei 20211 Nick Sturgess. Deputy Museum Diwctor (left November 20211 Emma Townshend, Ath"ng Head of Operations (redundancy March 2021) Page I

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlt•d by guarantsèl TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their annual report together with the financial statements ol the Avon¢roft Museum of Historic Buildings for the 1 January 202110 31 December 2021. The Annual report serves the purposes of both a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual report and financial slalemenls of the charitable company comply with the current slalutory requirements, the requirements of the charitable companls governing document and the provisions ol the Statement of Rewmmended Practice ISORPI applicable to charities preparing thair accounts in accordance with the Finandal Reporting Slandard appli¢ablo in the UK and Republic of Ireland {FRS102} leffoclive 1 January 20191. Trustees of the Charlty The Trustees who have served durlng Ihe year and slnce the year end were as follows.. M Woolley (resigned 26 April 2022) A Hurley N Psirides (resigned 26 April 2022) K Gee, Chair M Arrllstrong, Vic&Chair P Richmond P Reilly S Pope lappointed 27 January 20221 A Wood (appointed 21 November 20211 D Roblnson. Treasurer Objectives and ktlvltles a. P¢li¢io$ and objectives The principal aim of the charitable company in the year under review was to advance the education of the public in the history of building as illustrated at Avoncroft and Ihe relationship of people wlh the buildings they constructsd and in which thgy livgd and worked. In 2017 the Charity set out how il would achieve its aims and objectives as sel out in our 20 Year Wision through ils 3 year Business Plan. This is due its five yearfy review in 2022. b. Publlc Benefit Statement We have referred to the guidance contained in the Charity Commission's g¢noral guidanco on public beneffl when reviewing our aims and objectives and in plannin9 our future activiti8s. In particular. the Trustees have considered our future ability to meet our charitable purpose when setting our 20 year Vision and its goals and objectives. Shorter temi objectives to deliver public benefit a￿ sel within the Museum's busine55 plan. Strategic Report a. A¢hl•vements and perfofmance 2020 was a drfficult year for the Museum due to the Covid 19 pandomic. survivgd only with the help of thè furlough scheme and support from NHLF and Arts Council emergency funding programmes. Tho museum entered 2021 as lockdown 3 began, unsure of its future while the pandemic was still destabilising culluial life. With no indication of when we could begin earning income through opening lo the public. Trustees had to face difficult decisions in order lo secure the long-lerm future of the museum. In Febnjary 2021 all but one existing staff were made redundant. while a new Director was recruited lo create and deliver a recovery plan, once circumstsnces permilled. Therefore, our new Director, Zoe Willems started In February with a virtually empty office. By the 8nd of 2021 she had filled five ￿$1$ and recruited a rola of front of house casuals. This very small Page 2

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guaranteol TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 team would have been unable to re-open the museum without the core team of dedicated volunteers who could retum once there were paid staff in place to manage their work. The Museum re-opened on May 1st wrth a reduced offer (outdoors only due lo government guidelines) and at a reduced price. The re-openlng was wdely welcomed by local people for whom Avoncroft Museum has been a key part of lrfe and 8 valuable outdoor space. Shockingly, on the same evening, vandals severely damaged five historic properties including the Nailgrs, Cottage. Tollhouse and Brlngsty Mission Chureh. The museum had to c10s9 for th8 rest of the bank holiday weekend to enable pollce inspections and to secure the buildings. With help from many well-wishers the sile was cleared and made safe to rgopen the followng weekend. The public's response lo this assault on the communitys heritage was instant and heart-warrlling. The media and police were also extraordinarily SUPPDrtive. Donations of more Ihan £50K We￿ received from supporters of the museum, as well as many other offers of help in kind. The fallout from this incident put the srnall learn under extraordinary pressure and as a result we were not able lo deliver a full summer programme of events. Neverthelgss, events were held over the summer with the use of re- enactment groups, theatre and perfomiers, and volunteer-run family aclivilies. Autumn saw very popular event weekends, bringing medieval and 1940's history to lrfe. Major Hallowaen and Christm85 events wera not posslble wlth the level of staffing available. but an extemal partner helped to organlse 8 couple of mulli-perfod re- enaclmenl markets lo provide an historic perspective ￿ seasonal fes￿vItte$. From June 2021 the museum adopted a pattern of three day opening in term-time (Wednesdays and weekendsl and five days in school holidays. On the other days the museum remains open lor fee-paying commercial or private events and school visits. Trustees are pleased that visitor numbers for the 8 months of 2021 {12,8001 compare favourably with the 8 months open in 202016,5941. The new Director, supported by the Board, will build back the business to viability, balancing public access with the nged lo achieve a sustsinable business model. In the meantime. we are most grateful lo Arts Council England and the Cultural Recovery Fund. wilhoul whose support Wg would not have the platform of reserves upon which we go forward. b. Inv￿tman1 portonnance Indlcators Avoncroft Enterprises Limited made a profit of £9,541 12020.. bss of £52.1831 wlh negatlve nel Ilabillues ol £2.197 12020.. £11.7381 at the yoar gnd. Al the profit has been allocated to AvoncToft Museum of Historic Buildings under Deed of Covenant. ¢. Rlsk management The Trustees have a duty lo idèntify and review the risks lo whith the Charity is exposed and to ensure appfopriate controls are in place lo provide ￿8$onable assurance against fraud and error. The Trustees examine the principal areas of the Chantys operations and consider the major risks faced in each of theso areas at their bi rnonlhw meetings. In the opinion of the Trustees, the Charity has established appropriate resource and view systems, which, under normal conditions, should allow these risks to be miligaled to an acceptable level in its day lo day opgralions. The Trustees fomulaled a Reserves Policy in January 2016 which is regularfy monitored. When the Museum was able to re open measures were put in place lo ensure that the Museum wa5 a safe place for visitors. staff and volunteers. In post-pandemic opening we have retained safety Screens in the shop and tea rooms. hand saniliser points across the sile and enhanced cleaning throughout the site. Page 3

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guaranta8) TRUSTEES. REPORT ICONTSNUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Financial Review a. Going Concern CovTd 19 Stslement - the 2021 Accounts were signfficanuy affected by the global pandemic and ong¢ing after-effecl5. The Trustees hava baan dealing with the major impact of Covid 19 and the associated restrictions on staff and visitors. all through 2021. The Trustee sub group (Recovery Working Group) continued its work in support of the new Director, meeting regularly to monitor progress. The Trustees have continued to mak8 very ¢Jifficult decisions to ensure going concern basis in unprecedentedly difficult and uncertain limes. In February 2021 all bul one member of the senlor stsff was made redundant. After a new Director, Zoe Willems, was appointed in February 2021. new staff have only been recruited within the scope of existing fijnding and on a Cautious planning basis. We were pleased to receive significant support from the Cultural Recovery Fund Grant through the Arts Council in 2020 and 2021. These grants have been vital to the Museum remaining a going concem and plan for future recovery and growth. The Trustees have been pleased al the support of visitors, members and many supporters who have attended the Museum during our limvced opening in 2021 and this income ha5 contributed to our ability to remain open and plan for the ftjture. While many uncertainti8s ramain for planning ahead, not least due to the cost of living crisis, the Trustees are confident that the Director has adopted a cautious and monitored approach to recovery that wlll not over- engage the limited resources available. For the first time in many years, the museum did not need to draw on our overdraft facility over the wnler months of 2021122, and it is not antjcipated thal it wll do so for 2022123 either. Al the dale these accounts are signed the Trustees are confident the Museum remains a going concern at least a further 24 rnonths. During this time the Trustees and Staff will conunue lo work tirelessly to 8stsblish new funding sources and a viable long term future. b. Reserves poll¢y The Museum's reserves policy is lo hold sufficient rgserves to cover salaries and costs for six months. While we have mat this tsrgat in 2021, this is partly due lo low costs of a skeleton 51aff team. Therefore the level of reserves will need to grow 8S the stsff team grows through the next two years of recovery. The Trustees monitor the financial risk of the organisation on a bi monthly basis, manage a risk register for the Museum and assess the ongoing perfomiance of both the Museum and its trading company on a monthly basis through management accounts. At 31st December 2021 the Museum had reserves of £1.031.010 1£996.407 in 20201 of which £57.270 were reslricled1£51.270 in 20201. During the course of 2020 and e8dy 2021, due to the unprecedented circumstsnces of the pandemic. Trustees made the decislon to undesignate all funds except restricted funds. Inlemal and extemal factors The Museum operates in a rapidly changlno environment to whith market conditions and legislation regularfy Introduce new challenges. The Museum considers its position al bimonthly Trustees. meetings and develops policies designed lo make ils longlerm financial position as secure as possible. Page 4

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantsèl TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 d. Prin¢ipal funding sourcos The principal funding sources for Avoncroft Museum are paid admissions, annual membership. event charges. donations, the provision of leaming programmes, as well as grants from other bodies and individuals. There is 81so an annual transfer of profrt frorn ils trading subsidiary, Avoncroft Enterprises Ltd. through which tearoom. shop and functions create trading incomo. e. Investment pollcy and obJectlvoS The only sums available lo invest are those for the lime ￿l￿g in the reslricled funds account. and those are in cash at bank, in fixed assets and in stock. The policy is lo use these funds to generate additional income whefe possible. bul froedom of action is limited by the need lo draw on these funds at frequent inteNals lo finance the projects for which the resources were acquired. f. Plans for future periods Trustees and the Museum's rnanagement team have agreed that, lollowing such 8 dr8malic slep change in the museum's fortunes due to the pandemic, a slow. solid recovery Ss deslrable. Our Ihree-year plan Is base(i around= 2022 Groundworks rebuilding systems and visitor offer lo provide a stable basis for.. 2023 - Good Foundations increasing ViSTlor numbers and earned income. improving the condition and presgntatson of heritage assets.. Rebuilding- full commercial offer within context to agreed strategic direction. Structure. Govemance and Managèment a. Govornlng document The Charity is controlled by its goveming document, a Memorandum and ArtiGles of Association, and con51itules a charitable company, limited by guarantee. as defined by the Companies Act 2006. b. Oryanlsatlonal stru¢tur• Policy and strategic management controls are retained by the Trustees and the overall njnnlng and management of the Museum is undertaken by the Senior Staff. The Museum employed 14 paid staff at the end of 2021 lof which 4 were non-casual staff Sncludlng a mix of full- lime and part-lime permanent staff and agency staffj.. c. Volunteers The Museum Is supported by a learn of volunteers who undertake numerous roles at the Museum including Inlerprelalion, maintenance. cataloguing, gardening, marketing, fundraising etc. Volunteering was significantly impacted by the COVID-19 pandgmic, with vdunteers unable to come in durin9 lockdown restrictions. Tèduced capacity to manage volunteers with slgnrficandy reduced staffing, and some volunteers feeling unable to return on¢e the museurn was able lo reopen. The volunteers who do continue lo provide Ihelr lim8 are vital to the ongoing running of the museum, and further recruitment will bg a priority during the recovery period. There are 90 who give Iheir lime free of charge but are able to reclaim their travel expenses. d. Wldor n•twork The Museum works wthin an informal ne￿ork of public and charitable museum5 in Worcestershire, the Wesl Midlands and the wider UK. 11 is a member of a number of voluntary bodies such as the Association of Independent Museums and tourism b￿leS such as Visit Worcestershire. It receives no regular support from local authorities and relies entirely on funds generated from admissions, trading and grant aid from other relevant Page 5

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A Company Ilmlt•d by guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 charities. o. Related partlas Avoncroft Enterprises Limited is a wholly owned subsidiary of the Charitable Company. The principal activity of Avoncroft Enterprises is to provide trading services to Avoncroft Museum of Historic Buildings. f. Recrultment and appolntment of new Trustees The Trustees are elected al an Annual General Meeting for a period of three years at which point they must retire and seek re-election. The Trusloes provide their services free of charge. g. Election of Trustees Peter Richmond. David Robinson and Peter Reilly were cwpled as Trustees during 2020 and confirmed at the delayed 2019 AGM in April 2021. Members r&elected Kathy Ge8. Andrew Hurley and Michael Woolley at Ihg delaygd 2019 AGM in April 2021 for further three-y8ar tem. Adele Cope was c¢>optsd 88 Trustee in October 2021 and confirmed by member5 al the AGM in NOVem￿r 2021. Sue Pope was Cowopled as Trustee in December 2021 After the year end bul before the preparation of thi5 report Michael Woolley and Nick Psirides stood down as Trustees. Kathy Gee became the Chair of Trustees, and Mark Amistrong becarne the Vice-chair. h. Inductlon tralnlng for new Trustga$ Appropriatg training relating to Trustoes, responsibilities is given to new Trustees on appointment. ststement of Trustees, responsibilities The Trustees (who are also directors of Avoncroft Museum of Historic Buildings for the purposes of company lawl are responsible for preparing the Trustees Annual Report linduding the Strategic Plan) and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial slalemenls for each financial year which give a true and fair view of the slate of affalrs of the charitable company and of the Incomlng resources and applicat￿n of resources, including the income and expenditure of the charitable cornpany for that period. In preparing those financial statem&nts. the Trustaas are required to= select su¢table accounting policies and then apply them consislenlly observe the methods and principles of the Chaflties SORP 2015 IFRS 1021 make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed. subject to any material departures disdosed and explained in the financial statements prepare thg financial slalements on the going concem basis unless it is inappropriate lo presume that thg company will continue in operatSon The Trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any time the finanaal position of the Company and enable them to ensure that the finanryal ststemenls comply Page 6

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlt•d by guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 wlh the Charities Act 2011. They are also responsible for safeguarding the assets ol the Charitable Company and hence for taking ￿asonable steps for prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on behalf by. and signed on their Kathy G88 Deputy Chair ol Trustees at 30th December 2021 Chair of Trustees from April 2022 Page 7

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by guarantèe) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Independent Examlner's Report lo the Tru$tg0s of Avoncroft Musoum of Hlstorle Bulldings {Ihe Group'l I report to the charity Trustees on my examination of the consolidated accounts of the Group comprising the Avoncroft Museum of Historic Buildings I'the parent Companll and ils subsidiary undertakings for the year ended 31 December 2021. Rasponsibilities and Basis of Report As the Truste8s of the parent Company land ils directors for the purposes of company lawl you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirefnents of the Companies Act 20061'lhe 2006 Acl'l and you have chosen lo prepare consolidated accounts for the Group. You are satisfied that the accounts of both parent Company and the Group are not r&quired by either Company or charity law to be audited and have chosen instead lo have an independent examination. Havlng satlsfied mysew that the consolidated accounts a￿ not reqUI￿d to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my exarninalion of the Group's accounts carried out under section 1 $2 of the Charities Act 2011 1'lh& 2011 A¢VI. In Carrwng out my eXaminat￿n I have followed the Directions given by the Charity Commission under Section 15215)Ibl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required In an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The plannlng and conduct of an audll goes beyond the limited assurance that an independent examination can provide. Consequently l express no tsplion as to whether the consolidated acwunls present a 'lru8 and fairf view and my report is limited lo those specrfic matters set out in the independent examiner's Statement. Independent Examlnerfs Statement Since the Trustees have opted to prepare consolidated accounts for the Group your examiner musl be a member of a body listed in se¢tion 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in conn8Ction wlh the examination giving me CAuse to believe.. accounting records wer& not kept in respect of the parent Company and ils subsidiaries as required by section 386 of the 2006 Act; or the accounts do not accord wsth those records,. or the accounts do not comply wth the accountsng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a matteT considered as part of an Independent examin8Uon'. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charhles lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 and have come 8¢ross rKJ Other mallers in ¢onn8Ction with th8 examinatson lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Companvs Trustees, as a body. In accordance with Part 4 of the Charities Page 8

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt•d by guarantetrl INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 (Accounts and Reports) Regulations 2008. My work has bean undertaken so that I mwhl state lo the Companls Trustees those matters l am required lo slate to them in an Indgpendenl examiner's report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility lo anyone other than the parent Company and the Companls Trustees as a body. for my work or for this report. Signed: Kery Brown Crowe U.K. LLP Chartered Accountants Black Country House Rounds Green Road Oldbury Wesl Midlands B69 2DG Dated: 28 September 2022 FCA Page 9

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 310ECEMBER 2021 Unreytricted funds 2021 Rostrict8d funds 2021 Totsl funds 2021 Total funds 2020 Not• Income from: Donations and legacies Charitable activits'es other trading a¢tivili8s Investments 228,442 113.787 116.1S7 7.600 6,000 234,442 113.787 116,157 7,600 553,808 51,467 31.152 12.991 Total income 465.986 6.000 471,986 649,418 Expènditure on.. Raising funds Charitable activities 214 435.647 214 435,647 398.570 Totsl expenditure 435,861 435,861 398.570 Net Income before taxatlon Taxation 30,125 (1.5221 6,000 36,125 {1.5221 250.848 11.382 12 Net movement In funds 28.603 6,000 34.603 262,230 Reeonclllation of funds: Total funds brought forward Nel movemenl in funds 945.137 28.603 51,270 6,000 996.407 34,603 734. 177 262,230 Total funds carried forward 973.740 57,270 1.031.010 996,407 The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 16 to 52 form part of these financial ststements. Page 10

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA Company Ilmlted by guaranteel REGISTERED NUMBER: 00830659 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Flxed assets Intsngible assets Tangible assets Heritage assets 13 14 15 3,840 364.090 413.746 349.817 413.218 763,035 787,676 Currant ass•ts Stocks Debtors Cash at bank and in hand 17 18 41 26,882 332,460 17,357 293,549 359,383 311. 106 Creditors: amounts falling due within one year 19 191,4081 (96,375) Nèt curr•nt assets 267,975 214, 731 Total assets less Current Ilabllltles 1.031.010 996,407 Net assets excluding penslon asset 1,031.010 996,407 Total nel as$?ts 1.031.010 996,407 Charlty ftinds Restricted funds: Restricted funds 57,270 51.270 Total rgslriclod funds Unrestricted funds 57.270 973.740 57,270 945,737 Total funds 1,031,010 996,407 The Company was en￿lled lo exempllon from audit under section 477 of thg Cornpanies Act 2006. The membgrs havo not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responslbSlllle8 for complOng with the requirements of the Act with respect lo accounting records and preparation of financial statements. Page11

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltod by guarante8} REGISTERED NUMBER: 00830659 CONSOUDATED BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2021 The financial statements have been prepared in accordance with the provisions applicablg 10 gnlib'es subject lo the small companies regime. The finan¢i81 slalements were approved and authorised for issue by the Trustee3 on and signed on their behalf by.. KGee Deputy Chair of Trustees at 30th Docember 2021 Chair of Trustees from April 2022 The notes on pages 16 10 52 form part of these financial statements. Page 12

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guarantee) REGISTERED NUMBER.. 00830659 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Fixed assets Intangiblg assets Tanglble assets Heritage assets Investments 13 3,840 360,295 413.746 8.000 14 344.424 413.218 8,000 15 16 765.642 785,881 Current assets Debtors Cash al b8nk and in hand 18 31,743 291,434 34,012 264,950 323,177 298.962 CrediloTS'. amounts falling due within one year 19 {47.612) (68,698J N•t current assets 275.565 230.264 Total assets less currgnt Ilabllltl•$ 1.041.207 1,016.145 Not a$$ets ¢xcludlng pension asset 1,041,207 1,016, 145 Total net a5set5 1.041,207 1,076, 145 Charity funds Restricted funds.. Total restricted funds UnTeslricted funds 57.270 51,270 Designated funds General funds 324,242 640,633 983,937 Total unrestricted funds 983.937 964,875 Total funds 1.041.207 1.016, 145 The Company was enlilled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtsin an audit for the year in question in accordance with section 476 of Companies Act 2006. Page 13

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlt•d by guarants8) REGISTERED NUMBER: 00830659 COMPANY BALANCE SHEET {CONTINUEDI AS AT 31 DECEMBER 2021 The Trustees acknowledge their responsibilities for wmplying with the requirements of the Act wf(h respect to accounting records and preparation of financial slatemenls. The financial ststemen15 have been prepared in accordance with the provisions applicable lo enlilies subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by.. £I.9.20 KGee Oepuly Chair of Trustees at 30th December 2021 Chair of Trustees from April 2022 The notes on pages 16 10 52 form part of these financial slalemenls. Page 14

AVONCROFT MUSEUM OF HISTORIC 8UILDINGS IA Company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operating activities Nel cash used in operating activities 44,380 304,472 Cash flows from Investlng actlvltles Dividends, interests and rents from investments Purchase of tangible fixed assets Puchase of heritage assets 552 (28.912J 14.5691 19001 Nèt cash used In investlng actlvrtles 15.469) (28.3601 Change In Cash and cash equlvalents in the year Cash and cash equivalents al the beginning of the year 38.911 276,112 293,549 17,437 Cash and ¢a$h gqulvalents at the end of tho year 332,460 293,549 The notes on pages 16 10 52 fomi part of these financial statements Page 15

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 G8ngral informatlon The Avoncroft Museum of Historic Buildings is a company limited by guarantee in England, whose registered office is Stoke Heath, Bromsgrove. Worceslershife, 860 4JR. The companys registered number is 0080659 and ils charity registration number is 241644. The mernbers of the company are the Trustees named on page 1. In the event of the Avoncroft Museum of Historic Buildings being wound up, the liability in respect of the guarantee is limited lo £1 per memb9r of the Avoncroft Musgum ol Historic Buildings. Ac¢ountlng pollcks 2.1 Basls of preparation of flnanclal statements Tha financial statèments havg been p￿pared in accordance with the Charities SORP IFRS 1021 A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rèporting Standard appli¢abl8 in thè UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applirable in the UK and Rgpublic of Ireland IFRS 1021 and the Companies Act 2006. Avoncroft Museum of Historic Buildings neets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost gr transaction value unless otherwise staled in the relevant accounting policy. The Consolidated st81emenl of financial activities {SOFAI and Consolidated balance sheet consolidate the flnanclal statements of the Company and ils subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken advantsge of the èxemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial 5ts1emenls. Page 16

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantoe} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng policies {continuod) 2.2 Going concern The Trustees have a reasonable expectstion that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Museum underwent a significant reslrucluring in February 2021. the costs of which were cOVe￿d by the Museums successful CRF Grant Application in 2020. A new Director was successfully recruited In February 2021 and Wofked wth the Trustees lo develop an emergency operating model lo enable reopèning in May 2021. All other costs during 2021 were covered by a mixturg of further CRF funding from Arts Council England. donations and grants, plus eamed income through admi55ions, tearwm and shop sales, and the ability to ￿¢0mMence commercial hire of Guesten Hall for weddings and other functions. A cautious budget and business plan has been developed for 2022-24, which allows for 8 small operational deficit and investment in underlying systems in 2022 vwhi18 maintaining sufficient planned reserves so that the museum will not require use of the agreed overdraft facility for Winter 2022123. Budgets are being developed for the rest of the business planning cycle which will aim lo maintain minimum reserves as per reserves policy. There are no material GOn￿rnS about the Museums abillty to contlnue and therefore the accounts havg bgen prepared on a golng concern basls. 2.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in rtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that hav8 been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the r￿leS to the financial stslemenls. Restricted funds are funds which are lo bè used in accordance with spedfic reslrSclSons Imposed by donors or which have been raised by the Group for particular purposes. The costs of ralslng and administering such funds are Charged against the specific fund. The aim and use of each Teslricted nd is set out in the notes lo the financial statements. Page 17

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt•d by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting pollcias {contlnugd) 2.4 In¢ome AJI income is recognised (￿ce the Company has enlillement lo the income, il is probable that the income will be received and the amount of income receivable Gan be measured reliably. Grants are included in the Consolidated statement ol financial activities on a re￿1vable basis. The balance of income received for specific purposes but not expende(I during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entiuement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is recelved, the Income Is accrued. Income tax recoverable in relation to inveslmènl income is recognised at the time the investment income is receivable. 2.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount ol the obligats'on can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dire¢t costs and shared costs, including support costs involved in undertaklng each activity. Direct costs attributable to a single activity arg allocated directty to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consislenl with the uso of resources. Central staff ¢osts are allocated on the basis of time spent, and depreciation charge5 allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direclly undertaking the activitles which ftjther the Group's objectives, as well as any associated support costs. l expenditure is inclusive of irrecovgrablg VAT. 2.6 Taxation The Charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore (( meets the definition of 8 charStable company for UK corporation tax purposes. Accordingly, the Company is potentially exernpl from taxation in r8spe¢l of in¢ome or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively lo charitabl8 purposes. The trad￿n9 subsidiary CAJmpany makes a qual￿ng donation of all taxable profits lo the Charity as long as available funds permit. The tax charge present in the accounts relates to the the taxable profits of the trading subsidiary thich We￿ not able lo be donated. 2.7 Intangible assets and amortisation Intangible assets ara initially recognised at cost. After recognition. under the cost model, intangible assets are measured at cost less any accumulated aM0￿$all0￿ and any accumulated impairment losses. Amortisation is Pfovided on intangible assets al rates calculated lo write off the cost of each asset on a stralghl-line basis over its expected useful lrfe. Page 18

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles Icontinuedl 2.7 Intangible assets and amorti$atlon {¢ontinuedl The estimated useful lives are as follows.. Computer software 3 years 2.8 Tangible fixed assets and depreclatlon Tangible fixed assets are Inlllally iecognised al cost. After recognition. under the cost model. tangiblè fixed assets are measured at cost less accumulatod depreciation and any accumulated impairmgnt losses. All cos15 incurred lo bring a langibla fixgd asset into its intended working condllion should be included in the measurement of cost. Depreciation is charged $0 as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the straight-line method. Depreciation is provided on the follc)wing bases.. Freehold propety 211/D and 8.33Yo slraighl line Equipment and machinery 10¥0 and 25Vo Straight line Other fixed assets (Play Area) 5% slraighl line 2.9 Hgrltage a$$ets Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently ststed at cost or valuation less a￿umUlated depreciation and accumLJlated impaimienl losses. Fair value for donated assets are estimated by reference to market prices. Where information on the cost or valuats'on of heritage assets is not available or the cost of providing such information significantly 0￿￿e1gh$ any ben8fit lo the users of the accounts then heritage assets are not re￿gnIsed on the balance sheet. Assets wlll be preservèd by the charity in order to keep thelr histori¢81, artistlc, scienllfic, technological, geophysical or environmental qualities to such a high level as lo contribute to knO¥￿edge and culture. A register of all assets held by the charity is available and the assets themselves are accessible lo the public wi(h prior agreement. Heritage assets are to be held for the foreseeable future. Heritage assets are not depreciated as their useful life is indeffinrte with one exception. Forge Collagg. which has partial commercial use and is deprecmaled on a 2'h straight line basis. Page 19

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt8d by guarant•o) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ountlng pollcles Icontlnuèdl 2.10 Investments Fixed asso1 investments a￿ a fomi of financial instrument and are initially ￿cogniSed at their transaction cost and subsequently measured at fair value al the Balance sheet date, unless the value cannot be measured reliably in which case it is measured al cost less impaimienl. Investment gains and losses, whether realisod or unrealised, are cofflbined and presented as 'GainsllL05ses} on inveslmenls. in the Consolidated statement of financial activities. Investments in subsidiaries are valued at cost less provision for impaimient. 2.11 Intorost r•¢elvable Intere51 on fund5 held on deposit is included when receivable and the amount can be measured reliably by the Group., this is nomially upon nolificalion of the interest paid or payable by the institsjtion with whom the fuThJs are deposited. 2.12 Operating leases Rentsls pahl under operating kases are charged to the Consolidated statement of financial activities on a straight line basis over the lease temi. 2.13 Stocks Stocks are valued at the lower of Cost and net realisable value after maklng due allowancg for obsolete and slow-moving str￿kS. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.14 Flnanclal Instruments Dabtors Short term debtors are rnea5ured al transaction price. less any impairment. Creditors Short lefm croditors aro measurgd at Iransaclion price. Ca$h Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Ther8 are no complex financial instruments. 2.15 Pension5 The Group operates o defined contribution pension scheme and the pension charge represents the amounts payable by the Group lo the fund in respect of the year. 2.16 Rolo of voluntoors The charity religs on the gfforts of ils 90 volunteors. The valL¢e of these volunteers is not incorporated wthin the accounts. Page 20

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2021 Critical accounting 8stimate$ and aroa$ of Judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Critical accounting estimates and assumptions.. Donation of equipment hire (ill tkjnalion of professional services In accordance with the Charities SORP FRS 102. the charlty has valued the benefit it recelves from donated services as £Nil12020 - £Nill. This Is based on the open market value of the benofils received. Page 21

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 In¢om• from donatlons and lega¢l•$ Unrestrlcted Restrfcted funds funds 2021 2021 Total fund5 2021 Donations Grants Government grants Gift aid 63,957 143,559 13,080 7.846 6,000 69.957 143,559 13.080 228,442 6.000 234,442 Unrestricted funds 2020 Restricted funds 2020 Total funds 2020 Donatlons Grants Government grants Gift aid 67,047 701, 149 235,212 3.000 67,047 248,549 235,212 147,400 406,408 147,400 553.808 Income from charltable activities Unrestrlcted funds 2021 Total funds 2021 Tot81 funds 2020 Events income Teaching - Schools and Adult Education Memberships Admissions 1,082 9,028 14.713 88.964 1,082 9,028 14,713 88,964 400 11,663 39,404 113,787 113,787 51,467 P8ge 22

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA Company Ilmlted by guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Fundralslng Income Incorne from fundralslng events Unro$trlctsd funds 2021 Total fvnds 2021 Total fvnds 2020 Fundraising inco 32 Incomo from non charitabl8 trading acllvltles Unrestrl¢ted funds 2021 Total funds 2021 Tot81 funds 2020 Sales Room hire Other trading income 52,449 49,660 13.994 52,449 49,660 13,994 19,203 10,407 1,510 116.103 116,103 31, 120 Investmont Income Unr•strict8d fund$ 2021 T¢tsl fund5 2021 Total fvnds 2020 Rentsl income Deposit account interest 7.328 272 7.328 272 12,439 552 7.600 7,600 12,99t Page 23

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of •xpendlture by a¢tlvltles Support ¢ost$ 2021 Totsl funds 2021 rotèl lunds 2020 Costs of operating museum 435,647 435,647 398,570 Page 24

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of expenditure by actlvltles Icontlnu•dl Analys1$ of support costs Total fund$ 2021 Total fvnds 2020 Stsff costs DepreCiat￿n Teaching courses Demonslralor costs Events Web desSgn, SO￿are and IT support Rent and rates Insurance Light, heat and water Telephone and stslionary Visitor service expendituie Promotion and publicity Conservation, maintenance and cleaning Travel Volunteer expenses Collection managernent Sundries Bank interest 209,600 20,270 556 245,081 16,594 (664) 12 205 4.891 10.350 3.043 22,413 23,751 6.477 (1,255) 4,106 3,043 18,299 13,445 6,178 2,464 10,188 23.894 22,779 48,406 191 520 428 202 6,711 3,847 5,197 2,580 6,255 7,919 701 3,840 20.099 4,818 1,500 6.724 5.180 2.678 6,025 423 Bank charges Independent examiners fee Accountsncy fees Professional fees Trustee expenses Amorbsalion Purchases 31.007 435,647 398,570 Page 25

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltod by guaranto81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Independent 6xamin8r's romunoration 2021 2020 Fees payable to the Companls independent examiner for the independent examination of the Company's annual accounts Fees payable lo the Compan15 independent examiner in respect of-. All other services not included above 2,600 2.580 5,258 6,255 10. Staff costs Group 2021 Group 2020 Company 2021 Company 2020 Wages and salaries Social security costs Other pension costs 198.842 4.946 6.026 233,937 4,229 6,915 163,235 4.531 5.336 141,058 3,289 5.173 209,814 245.081 173,102 149,520 The average number of persons employed by the Company during the year was as follows= Group 2021 No. Gmup 2020 No. Staff 28 30 No employee received ￿MuneratiOn amounlirrfJ lo more than £60,000 in eiiher year. The key management personnel consists of the trustees, Museum Director, Deputy Museum Director and Commercial Manager. The total remuneration paid to the key management personnel was £59.39212020 £49,249). 11. Trust8•s' romunèration and axpensos During the year, no Trustees received any remuneration or other benefits (2020- £NIL). During the year ended 31 December 2021. expenses totalling £NIL were reimbursed or paid diredy to Trusleos (2020- £701). Pa￿ 26

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. Taxation 2021 2020 Corporatlon tax Current tax on net income for the year (7, 149) Origination and reversal of tim￿9 differen¢&s Changes to tax rates 2.859 11.337) (4,233) Total deferred tax 1.522 (4.233) Taxatlon on net Income 1.522 (11,382) Thgre w8re no factors that affected the tax charge f¢x the year which has been calculated on ng1 income al th¢ stsndard rale of corporation tax in the UK of 190/ts (2020- 19Y4J. In March 2020 the UK Government announ￿ an increase in the UK Corporation Tax headline rate lo 25¥0 With effect from 1 April 2023. Page 27

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmltsd by guarant•è} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. Intanglble assets Group and Company C¢mputsr $¢ftware Cost Al 1 January 2021 11.520 Al 31 December 2021 11,520 Amortlsatlon Al 1 January 2021 Charge for the year 7,680 At 31 December 2021 11,520 N•t book valuo Al 31 December 2021 At 31 December 2020 3.840 Page 28

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmllod by guaranto81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Tanglble flxed assets Group Equlpmanl Othor flxed and assets (Play machinery Aroal Fr••hold property Total Cost or valuatlon At 1 January 2021 Addllions 467.296 131,397 4.569 642,136 4,569 Al 31 December 2021 467,296 135.966 43A43 646,705 Depreciation Al 1 January 2021 Charge for the year 163,386 7,138 97,276 10.149 17,384 1.557 278,046 18.842 Al 31 0￿mber2021 170.522 107.425 18.941 296.888 Net book value Al 31 December 2021 296,774 28,541 24.502 349.817 At 31 December 2020 303,910 34, 121 26,059 364.090 Page 29

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Tanglblo flxgd assots Icontlnuedl Company Equlpment Other Ilxed and assets (Play Ma¢hlnery Area} Freohold proporty Total Cost or valuatl¢n Al 1 January 2021 Additions 465,136 101,759 2,034 610,338 2,034 At 31 December 2021 465.136 103.793 612,372 Depreclatlon At 1 January 2021 Charge for the year 161,226 7,136 71A33 9212 17,384 1.557 250,043 17,905 At 31 December 2021 168.362 80,645 18,941 267.948 Net book value At 31 December 2021 296.774 23,148 24.502 344,424 Al 31 December 2020 303,910 30,326 28,059 360,295 Page 30

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A Company Ilmltad by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Herftage assets Group and Company Assets re¢ogni5ed at cost Heritage assets 2021 Caryng value al 1 January 2021 Additions 413,746 900 11,4281 Depreciation 413,218 Two assets included in Heritage Assets were revalued on 31 December 1994 by John Sanders F.R.l.C.S Chartered Surveyor. If Heritage Assets had not previously been revalued they would have been included at cost of £333,170 12020- £332.2701 and accumulated depreciation of £23.16112020- £22.3331. A revaluation reserve of £102,410 {2020- £103,009) relating to these assets Is Included in general fvnds. Tanglblg flxgd assets- horltag• assets on Balance Sheet The followng items are now on the Museum's balance sheet as heritage assgts.. Hgrltagè Asset Year of addition Amount to dato Forge Cottage Hill End Cottage Hill Croome Dovecote Dormston Dovecote Anderson Shelter Threshlng machine Airing Court Shelter Nai1gTS Cottage Air-raid Shelter from Dudley Timber-frarned coaalage from Sneachill Timber-frame barn from Dordon Telephone kiosk (Norwich type) Cricket Pavillion Thresher's Barn Thatched Roof 1994 1994 2001 2001 2008 2010 2012 2012 2013 2014 2016 2018 £71,400 £102,000 £2,341 £2,957 £1,406 £1,064 £24,124 £216,239 £600 £18,836 £360 £800 -1 I 2019 2021 £15,1100 £900 Total £4S6.027 Page 31

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A Company Ilmlt•d by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Dl$posals No disposals from the collection were undertaken in year. Four year financial summary of heritage asset transactions.. 2018 2019 2020 2021 Carrwng amount at beginning of reporting period Addibons £431,966 £440,127 £458,627 £458,627 £8.161 £18.500 £0 £900 Disposals £0 £0 £0 £0 DeprecAalionlimpairment £0 £0 £0 £0 Re-valuation £0 £0 £0 £0 Carrwng amount at reporting dale £440,127 £458,627 £458,627 £459,257 A number of small domestic and other objects were donated in year however, no item which could be regarded significant or valuable, and so there are rso additions to the heritage assets disdosure The Museum's heritage assets fall into the folk)wing ¢alegories'. Historic buildings The ¢olleclion of historic bulldings is sutrpdivldgd into the following thre8 categories.. Historic buildings rescued and rewerecfed on the Museum S site This collection consists of 30 historic buildings and structures which date from betsveen the 1330s and lale-20th ￿ntury and which have been rescued and re-erecled as part of the Museum's collection at ils Stoke Heath sile. Each have their own historic significance, however, most notable among them from a rarity or uniqueness value arg thè Guèsten Hall Roof - a structur8 dating from the 1330s which was the roof to the Prior of Worcesterfs great hall where he entertained guests, the National Telephon8 Kiosk collèction - a unique collection of every type of GPO and BT telephone klosks used since the 19205 with additional police, AA and RAC boxes, and the medieval Town House from Bromsgrove, a c1450 house which was the first Avoncroft exhibit and thereforg the first exhibit lo be rescued by an open-air Museum in England. Most of this collection are single buildings, though some are part-buildings or structures (Plas Cathlgan & Fibreglass spire) while one is a collection of struCtu￿S INational Telephone Kiosk Colleclionl. Page 32

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees do not consider that reliable cost or valuation infomiation can be obtained for the majority of the hislDriC buildings because by their very exislenco in having lo be res¢ued and brought lo Avoncroft Museum because of red(Jndan¢y they have an intsngible market value. Vvhereas most may have had a market value in their original 511ualion had they survived there. this will be significantly different now they are collected together al Avoncroft. The Museum does not therefore recognise these as5et5 on its Balance Sheet. other than recent acquisitions which are reported at cost, where the object is purchased, or al the Museum Direclorfs best estimates of current value where the object is donated. The Cost of any recent improvements lo assets whose cost is not recognised on the balance sheet will be treated as an addition to the reported Cost of assets on the balance sheet. The Museum is therefore reporting these holdings based on original cost with any improvements costs incurred classed as additions in year. However, any maintenance costs inCU￿d in the year are expensed in the statement of financial activities and not capitalised on the balance sheet as these costs are incurred to presgrve the original stste of the buildirwj. The Trustees consider all of thes9 exhibits have an indefinite life and does not therefore depreciate them. Page 33

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Herltage assets lcontlnuedl Heritage Assets- Historic Buildings reorected at the Museum PAlditions in Cost 3111212021 Maintenance Costs In 3111212020 Medbewdl Tov H)use Plas Caokngan (knsten Hall £6,523 £6,523 £13.504 £619.935 £28,586 £988 £13.504 £619,935 £28,586 Windmill 11s￿)p Chainshop Granary £3.436 £1.776 £3,436 £1,776 String of HJrse5 £89,698 £89,698 Threshing Barn Cockpit cL￿nI1￿j Pkxjse Racksaw £10.255 £44,639 £10,255 £44,639 £7,021 £15.577 £15,732 £13.869 £29,937 £30,315 £25,306 £31,347 £44.764 £46,462 £42,241 £166,198 £59,533 £45,340 £7.021 £15.577 £15.732 £13.869 £29.937 £30.315 £25,306 £31,347 £44,764 £46,462 £42.241 £166,198 £59.533 £45.340 Stab Wagon Shed Prefab Icehouse Pri D0￿Cote Tol Pkwse Cdl Bknk Perry Mill Telephone lfjosks Missicm Church Fibreglass Spire £1,392,982 £1,392.982 £0 Page 34

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 'Mainlenance costs in the year are expensed through the stalernent of financial activities. In 2021 Avoncroft has undertaken limited maintenance spend as the museum emerged frorn the Covid-19 shutdown and needed to ￿vIeW priorities and requirements and re-build capacity lo undertake essential and preventive maintenance. In addib'on. the Trustees consider Forge Cottage, an 181h-century timber-framed house with attached farrier's forge which was rescued from Wellington, He￿f0rdshIie as a heritage asset. Although 'principally held for its contribution lo kn¢)wledge and culture,, approxirnalely 800/0 of the building is currently used for OffI￿S and the Museum's Library and Archives, so the Trustees will depreciate this building at 20/. per annum with a residual value of 40%. Visits to the building to consult the Library and Archive are available lo the public by appointment. At the point the majority of the building is used for its heritage value. il will be considered solely a heritage asset. and at that point wouhl cease to depreciate. Two other heritsge assets, the Gueslen Hall roof and the String of Horses buildings currently provide an element of commercial use. The Gueslen Hall is open lo the public as an exhibit for more than 85¥0 of the me during Museum opening hours and is used for approximately 25 weddings and S conferences a year. The String of Horses uses about 25°h of its space for the Museum's Edwardian Tea Room and further areas are used for offices, storage and other museum functions. The Trustees consider that both are held principalty for their use as a Herltage Assets an(1 thelr historlcal contribution to kn￿edge and culture. Historic buildings restored In￿ltU and owned freehold away from the Museum As well as rescuing buildings and mowng them lo the Museum, Avoncroft in ils eady ￿arS restored several redundant buildings or structures in silu, and in some cases acquired these as freehold propert¢es. Two buildingslslruetures are still held on this basis. A box limber-framed dovecotg originally part of the Moat Fami. Domislon. Worceslorshire. Cost £2,341. Owned freehold bl A cruck limber-framed dovecote at Glebe Farm, Hill Croome. Worcestershire. Cost £2,957. ¢￿ned freehold The Museum considers these assets lo have ind8finil8 life and therefore does not depreciate Ihern. although they are accounted for on the balance sheeL Historic buildings in the course ol reoredion on the Museum's sile or stored in anticipation of re-erection in the future Page 35

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A Company Ilmited by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Herltage assets Icontlnued} 1] Nail¢r'$ Cottag• A project to rescue a mid-19th century cottage, representative of those built for the Bromsgrove nailing trade, began in 2012 following permission lo demolish il had been granted. A Your Heritage Lottery Grant enabled the dismantling of the building, and in 2014 Phase l of the rewerection began al Avoncroft. Re (x)nslruction of the Cottage was completed in 2019, and it was opened lo visitors for the first lime in 2020. Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Project costs 28,235 114,502 5,836 48,896 7,198 3,500 Total to date 217,739 The project incurred costs whlch arg accounted for on the balance sheet under the acquisition of a new heritage asset. Phase11 of the projgd, lo complete the intoriof of the rescued building began in 2017 and was completed in 2020, with the building opening to the public during the Autumn. After significant damage during the vandalism of May 2021 the cottage had lo be closed again to enable repairs and re- dressing. 11 was open again to visitors from Autumn 2021 onwards. Tirnber-framed ¢ottage r•s¢uod from Snoa¢hlll, Worcestorshiro Following the granting of demolition pem)ission, Avoncroft negotiated with the owner over the dismantling and rescue ol a timber-framed cottage believed lo date from the lale-171h or 18th century ¥Mth substsnlial brick additions dating from the middleth19th century. The cottage was dismantled during Septembor and Octobgr 2014. Year 2014 2015 2016 2017 2018 2019 2020 2021 pro￿¢1 costs £336 £18,51)0 £0 £0 £0 £0 £0 £0 Total to date £18.836 The cottage is currently awaiting re•er&ction on the Museum's sile. Page 36

AVONCROFT MUSEUM OF HISTORIC 8UILDINGS (A company Ilmltod by guarant￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 31 Barn frame from Dordon. North Warwtckshlre In 2016 the Museum was given a partially-restored frame of a box-framed threshing bam dismantled somo years ago from near Dordon in North Warwickshire. Avoncroft has accepted this on the basis that il 15 an additional heritage asset, however. once rebuilt, may be used as a visitor facility, education or storage building, rather than as one of the Museum's agricultural exhibits. So far, the only costs associated with this building have been the cost of transporting the components of the timber frame from storage from Beoley, Worcestershi￿. The barn frame is temporarily stored opposite the Museum's Showman's Wagon building. Ygar 2016 2017 2018 2019 2020 2021 ProJ8ct Costs £360 £0 £0 £0 £0 £0 Total to date £360 4] Telophono KSosk. ¢1905 of tho 'Norwlch' typo The Museum acquired a very rare early telephone kiosk from before the GPO (General Post Office) became the national provider of telephone services and public call boxes in 1912. Thought to have been installed c1905, the kiosk is a wooden structure of the'NoNich' pattern whi¢h was the pre-stsndardisalion shelter design for public telephones In use by the National Telephone Company in the East Anglia region. Originally sited at Gonville Place, Cambridge it has been acquired from the family of a collector who rescued il in the 1980s. The Museum is very gralgful to an anonyrnous donor who funded thg purchase {£8001 for Avoncroft. Although acquired in 2017, the kiosk did not arrive at the Museum until earfy 2018. Significant restoratson of the kiosk is requi￿d. Year 2018 2019 2020 2021 Prolect costs £0 £0 £0 £0 s] Crlcket Pavllion from Wor¢e$tsr Clty The Museum has acquSred the remains of a Vlctorian CTi¢kel Pavilion which was once home lo Wor¢eslershire Cricket Club. The building will make an interesting exhibit lo tell the story of Midland sport once rebuif(. a project that wll lake signrficanl investment. 11 was dismanued in Summer 2019 and is currently stored temporarily opposite the Showman's Wagon building. Projoct costs £15,000 £0 £0 2019 2020 2021 Page 37

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A ¢ompany Ilmlted by guarantst) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Bulldlngs rescued In tho past 6] Water mill & machinery from Temple Balsall Fami, Tamplg Balsall, Sollhull In 1983 the Museum rescued parts of a farm mill and the water mill wheel and machinery. The projed lo re-erect this building was attempted ￿lce by the Museum once in the 1980s after acquisition and again In the 1990s, however the significant funding required was not achieved and the machinery and some building parts remain al the Museum. The original cost of the rescue of the machinery and building parts was £14,738. The Museum ¢onsidgrs this lo be a heritsge asset not on the Balance Sheet. Plg Sty from Longdon, Worcestershire A small wooden pig sty was rgs¢ued in April 1978 from Longdon. Worcestershire al a cost of £528. Althokjgh the roof structure was known, il wasn't until after recent dig(tisation of some of th8 Museurn's slide images from thSs period, that il wa5 realised that several sections of the wall structure were also stored nearby and enough of this buildirbg survives to reered IL Laryer non-bulldlng herltage a$$et$ Carts, wagons, agricultural equipment and other mobile exhibits a] Showman's Wagon From 1991- 1998 thg Museum undertook the restoration of 8 1910 Showman'5 living caravan which had been presented lo the Museum by the Surviving children of the original owner Tom Clarke. The elaborate interior and the mahogany panelled exterior were carefully conserved. new wooden whg91s made instead of the replacement pneumatic ones and thg ornamental painlwork scenes on the inlerlor were all restored. In order to preseNe this work a special exhibition shed with interpietation about the history of funfair showmen, the Clarke family and the wagon was constructed lo house it. The cost lo restore and house this exhibit was £95.627. bj Road mgndors. Wagon The Museum was given a 1911 Worcestershire County Council road menders, living wagon in 1972 which was then restored by the Museum. 11 is thought to have been made by Ricketts Bros and was van No. 21 in the Council's fleet and was certainly in use until 1949, and possibly as late as 1957 when it was pul into storage at the Stanford dapot until it was given lo the Museum. The 'Caledonia Queen, cast-lron stove witti which il is now fitted was removed from one of the other redundant wagons. The cost of the original restoration was not ￿e0rded in the Museum's Annual Report or Accounts in 1972. Significant work was undertaken again in 2005 and 2015 to repair and re-paint the wagon which because of its size. and lack of an appropriate building, has been (Jisplayed in the open. ¢1 Mlllefs Wagon This vehicle was Tescued from Arrow Mill, near Alcesler. Wan￿l¢k$h1re and presented lo the Museum in 1980 by Mr Tony Carr and was rastorèd in 1983 by Mr Michael Horftrr al Radford near Bath. It is thoughl lo have been built by Glovers of Warwid( 81 the end of the 19th century. The cost of the original reslorats'on was not recorded in the Museum's Annual Report or Accounts in 1983. It is in need of further restoration which is in planning. Page 38

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A ¢ompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEP4lENTS FOR TKE YEAR ENDED 31 DECEMBER 2021 dj Fire ladder The'¢urricle' wheeled fire-escape ladder was used as a basic firefighting engine and extending ladder at UmbeT51ade Hall, Tanworth in Arden, Warwickshire. It dales from the lale-191h century. 81 GPO Morris Mlnor van This van, DVL4 Registration NLW 918, during its working life was under the control of the Telephone Manager, Chester and was first registered in 1959. This vehicle was part of BT'S Historic Vehicle Fleet Collecth)n and was transferred into Avoncroft's ownership at the fomial opening of the Kiosk Collection. It is kept in working condition. Agrlcultural •xhibtts The Museum holds an extensive agricultural coll￿ts.0n including machinery, hand too15, animal and Iraclor4rabvn equipment. The stored colleclions of hand-lools have been catalogued and the Museum will shoruy be undertaking a survey of the lafger-%ale machinery. None of these collections are known to be of significant value. Notable larger items of agricultural equipment include a 1930s reaper-binder, eady 20th century hay elevator. a collection of ploughs. harrows. rolavators and seed drills, iwo Lister ststionary engines and various items such as chaff-cutters. sack lifts. butter maknng equipment. Architectural and bulldlngs ¢olle¢tlon The Musèum holds a wide-ranging Collection of items relating lo the building trades as well as a study Collection of aichileclural fragments and materials including 8 substantial collection relating to the brickrnaking trade. There is also a large collection of woodworking tools suitable foi both the cabinet- making and joinery trades, some of which a￿ on display in the Inlroduclory Exhibition. Flre-mark ¢011o¢tltsn The Museum holds a significant colledion ol mglal insurance fire-marks. This collection, was donated by Mr Peter Coard. and was valLJed in 2004 al £30,000 by Mr Phil Morris. a committge member of the Fire Mark Cirde society. In 2016 Avoncroft acquired three highrfluality large museum display cases and displays incorporating a a selection of the fire-marks are now viewable by the public. along with c4)ntextu81 displays about the history of how fire affects buildings. Othar small exhlblts Many of the buildings which have been rescued have also had collection5 of appropriate eonlenls collected for display in the reorected exhibit. These include appropriate trade tools, furnishings and fittings, domestic items and contextual material. The Museum also collected a stored collection of small objg¢ts which were lo be used either in existing or future exhibit buildings or for other aspects of th8 Museum's displayE. Art Sir Hugh Casson watercolours.. Sir Hugh Cas50n 11910-1999} was an architect, artist, Interior designer, writer and broadcaster who became the first President of Avoncroft Museum of Buildings in 1963 until he retired in 1992. These four water¢olour views of Avoncroft were given by Sir Hugh in 1991 to aid the Museum's fundraising efforts. Value approxlmately £350 each. based on other watercolour drawings by Casson Sold in the UK in 2006-2012. Valuation by Simon Carter, prevlous Museum Dlrector. March 2014. Page 39

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 John Piper (1903-1992} John Piper was also involved in the Museum in the earty years and the Museurn and supported fundraising. Avoncroft owns two prints, one called 'Avoncroft Museum. 1175 11976} - value approx £2.200 - based on other versions of this print either sold or available. The fact this is the first of a numbered edition adds to its value. Valuation by Simon Carter, Director, March 2014. The second is of Wights'ck Manor, Wolverhampton 29175119771- value approx É2.300- based on other prints sold 2010-2013. In original frame. Valuation by Simon Carter, previous Museum Director, March 2014. The Museum also holds a small collo¢lion of engravings, modem watercolours and prints of the Museum or related views. None of these are thought to be worth more than £300. Archive The Museum holds an extensive archive of published books. paper and photographic records of the history of the Museum and historic Midlands buildings both extant and destroyed. While full cataloguing of the collection is still underway. il has not been p055ible yel lo identify any individual items which are of high value. however. there are holdings of some relatively rare 18th and 19th century books and documents relaty'ng to the building Irades. architecture and English history. Preservatlon costs Expenditurg which, in th8 Trusteas. view. is raquired lo preserve or dearly prevent further delerioralion of Individual colledion items is recognised in the Income Expenditure account when it is incurred. Loans In or out The Museum has a very small number of loans leslimaled less than 30 ofyects against a ball park figure of 14,000 objects in Ihg collgctionl howgver 6 of these are large scale items which are long-lerm or perrnanent loan5. 11 Concrete 'TaTdis' style Glasgow Police box Ifixed lo concreted surface and would requlra a crane to movel. Loan reviewed on a regular basis. 21 Set of Wiclorian elaborate chimneys - approx 7-8 fool high and set onto ￿nCretE base - lent 1973. Currently trying to establish contact wth deceased lenders family. 31 Mobile tglephong exchange lcurrently wired into Museum's kiosk ￿)lleCtIon and blocked in by subsequent landscapingl. This large trailgr type wheelgd vghicle is an integral part of the Kiosk Collectlon and is owned by a long-term Museum volunteer. 41 Showman's Wagon - a very large living wagon on 'perrnanent loan, from descendants of the original showman and his wife. The family were reluctant to donate the item when it came to the Museum in the 1990s bul in order lo raise grant funding an agreement was reached whereby the major grant giver, NHMF, was lo be consulted if ever there was a need lo move It from Avoncroft, and that an allernalive Museum or public place would be found to display IL Page 40

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 5] Brickmaking Machine a large Victorian demonstration model for producing miniature bricks lo demonstrate the method al trade fairs made by C. Whittaker and Co. Ltd of Accringlon, Lancashire Ss on loan from a private individual. 61 Restored GWR G(x)ds Wagon - this rescued wagon was nearly entirely rebuilt using the original which dated from the end of the 19th century as a pattem and r&using the surviving ironwork. It was placed on long-term loan at the Museum from a private individual who funded its restoration in 1991. A grant lo carry out urgent repairs wa5 received in 2013 and work has begun on the restoration. The remaining loan items are all small scale, and are on loan as individual or small groups of items. Existing loan arrangements are being considered as part of the cataloguing process. Loans out The Museum has lent a decorated gable end from Uoyd's Mansion, Shrewsbury for a period of 10 yeaTS (beginning 20101 to Shrewsbury Museum. Prèservatlon and management Avoncroft Musgum is an a¢¢rediled Museum under the schemo adminislere(I by Arts Countil England. The Museum employs a full-lime Heritage, Collections and Interpretstion Manager as one of its Senior Managers. The poslholder manages the ¢olleclions in accordance with policies that are approved by the Trustees and are in line with the Arts Council Accreditation scheme. Further information on the Collection is provided in the Museum's separately published Acquisition and Disposal Policy. Collgctions Procedures Manual and Buildings Mainlenancg Plan. Copies are available on request. As explained in the Acquisition and Disposals polrcy, heritage assets in the collection are only dlsposed of when. in the opinion of the Trustees, there is a good curatorial reason that the item does not conlrbbute lo the interest and diversity of the Museum's coll8ction. 16. Fixed asset investments Inve$tm•nts In Subsidlary ¢ompanies Company Cost or valuallon Al 1 January 2021 At 31 Decembor 2021 Page 41

AVoNCR0￿ MUSEUM OF HISTORIC BUILDINGS (A Company Ilmltod by guarant•o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Stocks Group 2021 Group 2020 Finished goods and goo(Js for resale 41 200 18. Debt¢rs Group 2021 Group 2020 Company 2021 Company 2020 Due wlthln one year Trade debtors 5.857 1.036 413 21.241 Amounts OW8d by group undgrtakings Other debtors Prepayments and accrued income Defeffed taxation 29,990 4,022 7.207 10,089 3,729 12.088 10,089 4.233 26,882 17.357 31.743 34,012 19. Crodltors: Amounts lalllng du• wlthln on• year Group 2021 Gmup 2020 Company 2021 Company 2020 Trade creditors Other tsxalion and social security Other creditors 40.419 3,460 47,529 60,810 6,737 28,828 34,523 2,123 10,966 40.237 3,972 24,489 91.408 96,375 47.612 68,698 20. D¢f•rr•d taxation Group and Company 2021 2020 Al the beginning of the year Charge/lCreditl for the year (4.2331 504 f4.233) (3.7291 (4.233) Page 42

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS (A company Ilm[t￿ by guaranl•o1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Deferred taxation Icontinuodl The deferred tax asset is made up as follows: Group 2021 Group 2020 Accelerated caprtal allowan￿$ Tax losses carried forward 16341 4,363 4,233 3.729 4,233 21. Def8rrod incomo Group 2021 Group 2020 Company 2021 Comp8ny 2020 Deferred income at 1 January 2021 Amount provided for in the year 18.629 19.041 11.755 6.874 15,329 {10,5841 11,754 3.5T5 Deferred Incorne at 31 December 2021 37.670 18,629 4,745 15.329 Page 43

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 22. Statement of funds - current year Balance at 31 D•c•mber 2021 Balance at 1 January 2021 Transfers inlout Income Expenditure Unrnstrlctsd funds Deslgnated funds Windmill- cash fvnd Bringsty- cash fund Wildflower Meadow- Cash fijnd Building rescue and improvements- cash fvnd Legacy funds - cash fund Fundraising account- cash fund Access improvements Library ar¢hives Education support Airing Court Shelter Nailerfs Cottage Building rescue and Improvements Air Raid Shelter 12841 11881 1741 23.8691 1213.6371 188 174 23.869 213,637 4.327 (4.3271 16001 118.8361 147,3271 Sneachill Cotta9e Going Forward to Exce119n¢8 Cricket Pavilion 18.836 47,327 324 242 324 242 General funds General Funds- all funds 620,895 462,847 {432,722) 324,242 975.262 Total Unrestricted fund5 945,137 462,847 {434,244) 973.740 Page 44

AvONCR0￿ MUSEUM OF HISTORIC BUILDINGS {A company Ilmlt¢d by guarant•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Rastrlctod funds Bringsty Church Windmill EdUcat￿n Training Town House Interpretation Kiosk Collection 2,558 1,350 3,299 3,000 1.239 1.200 2,701 2.127 8S3 388 2,558 7.350 3.299 3.000 1.239 1.200 2,701 2,127 853 388 6,000 Airing Court Shelter Wildflower Meadow Nailels Cottage Racksaw GWR Railway Wagon Wisteria Cottage from Sneachill 2,850 354 20,000 417 354 20,000 417 Threshing Bam Primrose H05pice Hill End Cottage Bromsgrove inslitulg 5.934 3.000 5,934 3.000 51,270 6.000 57.270 Total of funds 996,407 468.847 1434,2441 1,031,010 Page 45

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantoe} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Statomont of fund$ - prlor year 88lance at 31 Decembgr 2020 Balance at I January 2020 Transfers in/out Income Expenditure Unr•strl¢tsd fund$ Deslgnated funds Windmill - cash fund Bringsty -cash fund Wildflower Meadow- cash fund Building rescue and improvgmants-cash fund Legacy funds - cash fund Fundraising account- cash fund 168 (168) (68) 92 (92J 1.619 (1,619) (1, T50J (1, 750? (i) Access Improvements Library archives Education support Airing Court Shelter Nailer's Cottage Building rescue and improvements Air Raid Shelter Sneachill Cottage Golng FoNard lo Excellence Cricket Pavilion 284 188 174 23,869 213,637 188 174 23,869 213,637 4,327 600 18,836 47,327 15,000 4,327 600 18.836 47.327 15,000 Designated Funds - all funds 326, 790 {1,948J 324,242 General funds General Funds - all funds 356,321 502,018 (248,826) 11.382 620,895 Totsl Unrestrl¢ted funds 682.511 502.018 (250.774) 11,382 945. 137 Page 46

AVONCROFT MUSEUM OF HISTORIC BUILOINGS (A company Ilm1t￿ by guaranté•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Ro$lrlctad funds Bringsty Church Windmill Milling at Avoncroft Education Tfaining Town House Interpretation Kiosk Collection Airing Court Sheher Wildflower Meadow Nailerfs Collage Racksaw GWR Rai￿aY Wagon Wisteria Cottage from Sneachill 2,558 1,350 1, 701 4.674 2.558 1.350 (1,701) {1,375J 3,299 3,000 1,239 1,200 2,701 3.388 1.239 1.200 2,701 2,127 853 (1,261J f55J 388 2,850 388 2.850 354 354 Coslurne Re*nactment Project Threshing Bam Prirnrose Hospice Plas Cadwgn Hill End Cottage Bromsgrove institute Young People's Volunteerfng Protection of Historic Assets (64) 20.000 417 20.000 417 440 (440? 5,934 5,934 3.000 3,000 1,51 (1.500) (141,400) (147, 796) 141,400 147,400 51,666 51.270 Total of funds 734, 177 fj49,418 (398,570) 11,382 996,407 Page 47

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Re$trl¢tgd Funds Brlngsty Church For ongoing maintenance of the building. Wlndmill For repair and maintenance of the building. Milling at Avoncroft For the development of flour milling and the interpretstlon of the agricultural buildings al the Museum. Educatlon For research & developmgnt of new programmes and 8dive earning and access for young visitors (including under Ssl and to support associated learning staff costs. Tralnlng To fund the training of staff and volunteers. Town House Int•rpretatlon To fund interpretive contents for the building Ihistoric objects and foplicasl- Ki¢$k Coll•¢tlon For maintenance and repair of the National Telephone Klosk Collection. Alrln9 Court Shèltèr For the dismantling, re￿reCtIOn and repair of the building. Wlldfiow•r Meadow For the maintenance and davelopmenl of the Wildliower Meadow. Nallerfs Cottage For the dismanling. rewerection. inlbrpretalion and repair of th8 building and gardgn. Ra¢ksaw For ongoing maintenance of the building and historic equipment. GWR Railway Wagon For repair and maintenance of Ihe wagon. Wisterla Cottage, from Snga¢hlll For the dismantling, reryere¢lion and repair of the building. Costume Re4nactment Project To fund th& project website volunteering portal {until 2018I- Threshlng Barn For re-thatching the bam roof. ACE- Going Forward to Ex¢g11on¢e To undertake work to improve the Museum's overall resiliencè based on the Arts Council England Supptsrt project application. Primrose Hospice To provide respite activfÉies for the users of the Primrose Hospice 8nd their families. Plas Cadwgn For ongoing maintenance of the building. Compost Toilet To provide a composting toilet lacillty. Stsff Support To fund the cost of staff posts. Page 48

AVoNCR0￿ MUSEUM OF HISTORIC BVILDINGS (A company Ilmlt8d by guaranto0} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Hlll End Cottage For repair and maintenance of the buildlng. Elmley Foundatlon - Arts Events small grant fund To support a on￿ff arts perf0mian￿ (Rorneo and Juliell as part of the Bromsgrove Festival 2018. Crlckot Pavilion For the dismantsing, r￿rectIOn and repair of the building. Tree Surgery For undertaking necessary tree surgery around the Museum's grounds. Young P•opl•'s Volunteoring To recruit and provide MO￿ volunlegring opportunities and encourage participation for young people lo support the work of Avoncroft. Bromsgrovg Institute For the purpose of refurbishment of historic horse drawn wagon. Protection of Historic A5set5 For the prolection of historic assets Transfers between funds The transfers from restricted lo designated ftjnds represent restricted funds used for Capital spending on assets that were recorded as designated on thè balance sheet at the discretion of the trustees. The transfers from d8signaled lo restricted funds represent the allocation of the depreciation charg8s on assets bought using restricted fvnding that were subsequently recorded as designated assets. The transfers from designated lo general funds represent the trustees decision lo unall￿ale unrestricted funds previously sel aside for spe¢lflc purposes. D¢nors and Grants in 2021 Arts Council Garfield Weston Bromsgrove District Coun¢il Bournville College Trust George Cadbury 8romsgrove Rotary LJC Fund The lan Addison Charitable Foundation LG Harris Trust Birmingham Common Good Trust Bromsgrove Court Leet Individual donations Max Tattoo Studio Ltd Worc Ind & Ar¢h8eology QUa￿e Trust Bromsgrove Photo Society Other £64.400 £30.000 £24.143 £12,000 £12,000 £5.000 £5.000 £3.000 £2,500 £1.500 £1.000 £4,750 £650 £500 £300 £250 £44,720 Page 49

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 23. Summary of funds Summary of funds - current year Balance at 31 Decèmbor Balance at 1 January 2021 Transfers inlout Incom• Expendlturn Taxation 2021 Designatsd fund5 Genefal funds Restricted funds 324.242 620,895 51,270 1324.242} 324.242 465,986 6,000 1435.861} 11.522} 973,740 57,270 996,407 471,986 1435,8611 11,5221 1,031,010 Analysis of net assets betr4een funds Analysis of nat assot$ botwgen funds- curr•nt year Unr8strict•d R¢$tri¢téd funds funds 2021 2D21 Total fund$ 2021 Tangible fixed 8s5ets Heritage assets Current assets Creditors dug within one year Provisions for liabilities and charges 349.817 413,218 298,384 191,4081 3.729 349.817 413,218 355.654 191.4081 3,729 57,270 T¢)tal 973,740 57,270 1,031.010 Page 50

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A Company Ilmlted by guaranto&1 NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 DECEMBER 2021 24. Analysls of net assets betwe•n funds (continued} Analys1$ of net assets between fund$ - prior year Unrestricted funds 2020 Restricted funds 2020 rotal funds 2020 Tangible fixed assets Intangible fixed assets Hefitsge assets Current assets Creditors due ¥￿thIn one year Provisions for liabilities and charges 364,090 3,840 4t3,746 255,603 (96.3T5J 4,233 364,090 3,840 413, 746 306,873 (96,375J 4.233 51,2TO Total 945,137 51,2TO 996,407 25. Reconci1Satl¢n of net movement in funds to n•t cash flow from operatlng a¢tlvltles Group 2021 Group 2020 Nel income for the year las per Statement of Flnancial Activities) 34.603 262,230 AdJu$tmènts for: Depreciation charges Amortisalion charges Dividgnds, interests and rents from invesknents Decrease in stocks Decreasel{increasel in debtors Increaselldgcreasel In creditors Tax charge on trading Subsidiary 20,270 3.840 16.594 3,840 (552J 8, 139 4.118 18, 185 (1t,382) 159 {9,5251 {6,4891 1.522 Net ¢ash provldod by 0￿ratIng actlvlties 44,3BO 301. IT2 Page 51

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA ¢ompany limlted by guarant¢¢} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 26. Analysls of cash and Cash equlvalents Group 2021 Group 2020 Cash in hand 332,460 293.549 Totsl ¢a$h and ¢ash equlvalènts 332,460 293,549 27. Analysis of changets in net debt At1 January 2021 Cash flows At31 Do¢ember 2021 Cash al bank and in hand 293,549 38.911 332.460 293,549 38.911 332.460 28. Pension commitments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in independently administered funds. The pension cost shown in note 11 rep￿sents the Contributions payable by the Charity to Ih8se funds. 29. Prln¢lpal subsldlarl8s The following was a subsldlary undertaklng of th8 Company: Namg Company numbef Class of Holding shares Includ•d In consolidatlon Avoncroft Enterprises Limited 03303524 Ordinary 100% Yes The financial results of the subsidiary for the year were.. Nam• In¢om• Expendltu PrafitllLossl I Svrplusl (Deflcltl for the year Net assets Avoncroft Enterprises Limited 116.103 1106.5621 9,541 12,197 Page 52