2022-12-31-accounts

Rogistarod numbgr: 00830659 Charity numbor: 241644 AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

AVONCROFT MUSEUM OF HISTORIC BUILDING8 (A company Ilmlted by guaranteg) CONTENTS Page Reference and admlnlstrative dglalls of tho Company, Its Trustèès and advisers Trusteès. report Indopendent examinerfs rèport 9-10 Consolldated sL*ernent of financial activities Consolidatod balance sheet 12-13 Company balance sheet 14-15 Consolldated statement of Gash flows 16 Notes to the flnanclal statements 17-51

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guaranteg) REFERENCE AND ADMINISTRATIVE OETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees M Woolley (resigned 26 April 2022) A Hudey (resigned 20 February 20231 N Psirtdes Iresigned 26 April 20221 K Gee (resigned l April 20231 M Atrmstrong. Chair P Richmond P Reilly S Pope (appointed 1 November 20221 A Wood D Robinson. Treasurer Company rggi$tgrgd nurnbgr 00830659 Charity rggistored number 241644 Rogist?rod offlce Stoke Heath Bromsgrove Worcestershire B60 4JR Key management team Zoe Willems. Director Abbey Butler. Commercial Manager Rob Harrison (Estates Manager) Steven Hearn IHerilage & Inlerprelation Manager} Heidi Ames {Finance Manager) Page 1

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guaranteol TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report together with the financial stslemenls of the Avoncroft Museum of Historic Buildings for the 1 January 2022 to 31 December 2022. The Annu81 report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and fln8ncial statements of the charitable company comply wth the current ststulory requirements, the requirements of the charitable companls goveming document and the provisions of the Statement of Recommended Prath'ce ISORP) applicable to charities preparing their accounts irTr accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS102} (effective 1 January 2019}. Tru$tgos of the Charlty The Trustees who have seNed during the year and Since the year end were as follows.. M Woolley (resigned 26 April 20221 A Hurley {resigned 20 February 20231 N Psirides {resigned 26 April 20221 K Gee {resigned 1 April 20231 M Armstrong, Chair P Richmond P Reilly S Pope {appointed 1 November 20221 A Wood O Robinson. Treasurer Oblectlves and Activltles a. Pollcles 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 al Avoncroft and the relationship of people with the buildings they constructed and in which they lived and worked. The Charity sets out how it will achieve its aims and objectives sel out in our 20 Year Vision Ihiough its 3 year Business Plan. This was due for a five-yearly review in 2022, whieh was begun in early 2023. b. Public Benoflt Statement We have referred to the guidance contained in the Charty Commission's general guidance on public beneflt when reviewing our aims and objectives and in planning our future activits'es. In particular. the Trustees have considered our future ability to meet our charitable purpose when setting our 20 year Vision and its go818 and objectives. Shorter term objectives to deliver public benefit are sel within the Museum's business plan. Strateglc Report . Achlevements and perfomiance The post-covid recovery Process continued in 2022, primarily through beginning lo build a new staff team and the development of a realistic 3-ye8r business plan. This outlined a progressive approach to recovery. recognising the significant organisalion81 ￿-struCtUr1n9 and the need to rebuild teams and processes. 2022 was designated as the "Groundworks" year with a focus on discovering and starting lo deliver good fundamental systems to support future development and growth. Key achievemenls in the Groundworks year of 2022 included.. Page 2

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limitad by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Stratogic Development Developing a new, slimline staff structure and recruiting a new Senior Management Team to support the creation and delivery of the new business plan. Identifying the need lo restructure financial processos in order lo underpin the business with a sound 8¢counling structure to enable accur81e planning, reporting and forecasting, and developing a new accounting structure to match the new business model. Developing a Ihreo-year business plan with a realistic staged plan for recovery and supporting budget. Facilities Dovelopment Improving the IT infraslruclure for both staff and visitors to the MuseLtm. Reviewing all major supplier contracts to ensure value for money (including obtaining a good energy rale al a time when energy costs more than Irebledl. Reviewed all major Health and Safety and Risk Assessments Improved security of sile through boundary review and slrenglhening of weak points. Heritage and Collectlons Developmont Establishing a preventive maintenance plan and conservation programme for the Museum's heritage assets. Beginning a comprehensive survey of Museum buildings in order to establish a prioritised list of generational repair works for future funding bids Undertaking emergency repairs lo prevent further deterioration of buildings such as the String of Horses and the Milling building. Re-lhalching the Cholstrey Barn - a major capital project, wssible due to previous generous donations from the William Cadbury Trust. plus additional contributions from lan Addison Foundation, and the CRF funds which were able lo be used as free reserves. This was a vital project as the existing Ihalch had completely failed and the underlying hislodc slruelure was al risk. The newly thatched Cholstrey Barn will be the focus of a new inleiprelation approach to be implemented during 2023. Wi$itor Experience Development Refreshed and re-displayed visitor welcome. shop and tearoom for an improved visitor welcome and experience. Improved presentstion of grounds and buildings through a dedicated team of gardeners. with the support of HOW College skills to work team. Included a winter campaign of Iree-felling for safety. and protection of buildings.. hedge-cutting,. planting new borders in airivals area. First year hosting the Inlemalional Living History Festival in Aprfl - bringing hundreds of re-enactors from every period from Stone Age to 1970's to bring the site to life. attracting hundreds of visitors over the weekend. Also highly popular and successful Medieval Weekend in September and 1940's 'on the Home Front, weekend in October. Extended opening from 2021 as opened end March. Kept to Weekends and Wednesdays during lemilime, increased lo 5 day openin9 during school holidays. Page 3

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmited by guarant091 TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Vlsltor Perfomiance School visits gradually increased during 2022. Visitor numbers raised from 12,800 in 2021 18 months) to 15,000 in 202219 monlhsl. Down on budget, but this was due to headwinds of Ukraine war, energy and cost of living crisis which has affected visitor patterns and has been experienced by many other museums and visitor attr8clions. and a good achievement in the circumstances where so much energy needed lo be fr￿￿$sed on internal team and process building. Commercial Pgrfomance Lower than expected visitor numbers in 2022 inevitably had a knoGk-on effect on tearoom and shop perfomiance. A delay in passing on rising costs of food, drink and energy lo customers added to a deficit in tearoom and shop performance. Commercial performance in the round was significantly lifted by a vibrant wedding season, making up for previous 2 years where weddings couldn't take place, and Enterprises returned a small profil as 8 result. b. Investment performance indicators Avoncrofl Enterprises Limited made a profil of £1,707 12021.. profil of £ 9.5411 with nel liabilits'es of £49012021- £2,197) at the year end. All the profil has been allocated to Avoncroft Museum of Historic Buildings under Deed of Covenant. ¢. Rlsk management The trustees have a duty to identify and review the risks to which the Charity is exposed and lo ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees examine the principal areas of the Charills operations and consider the major risks faced in each of these areas at their bimonthly meetings. In the opinion of the Trustees. the Charity has established appropriate resources and review systems. which. under nomial conditions, should allow these risks to be miligaled to an acceptable level in ils day to day operations. The Trustees fomiulated a Reserves Policy in January 2016 which is regularly monitored. Page 4

AVONCROFf MUSEUM OF HISTORIC BUILDINGS (A company lirnited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Financial Review . Golng Concem The ongoing after-effects of the CovKJ-19 pandemic, compounded by the economic impact of the war in Ukraine and the ongoing cost of energy and cost of living issues continue lo have a significant impact on the pace of recovery of the Museum. Trustees have confidence in the plans for recovery of the Museum contained in the business plan, and in the senior team's commitment and ability to deliver these plans. They include a need to invest in the short term in order to build capacity for a more sustainable future. We were pleased lo receive significant support from the Cultural Recovery Fund Grant through the Arts Council in 2020 and 2021. Due lo the ability to convert some of these grants lo free reserves, they have continued to enable the Museum lo remain a going concern and plan for future recovery and growth. The Trustees have been pleased at the support of visitors, members and many supporters who have attended the Museum during our extended opening in 2022 and this income has Gonlribvted to our ability to remain open and plan for the future. While many uncertainties remain for planning ahead, not least due lo the cost of living crisis. the Trustees are confident that the Director has adopted a cautious and monitored approach lo recovery that will not overengage the limtted resources available. There is an agreed overdraft facility of £100,000 which can be used if needed to tide over the winter closed Period. Indicative cash flow forecasts lo end 2024 indicate potential need lo draw slightly on overdraft occasionally. At the dale these accounts are signed the Trustees are confident the Museum remains a going concern al least a further 12 months. During this Ilme the Trustees and Staff will conts'nue to work tirelessly to establish new funding sources and a viable long term future. b. Reserves poll¢y The Museum's reserves policy is lo hold sufficient reserves lo cover salaries and costs for six months. We have mel this largel for the second year running in 2022. while growing the staff team to deliver recovery plans. As investment in the future continues into 2023. we may dip below the resetves policy level for a short period. The Trustees monitor the financial risk of the organisation on a bimonthly basis. manage a risk register for the Museum and 8ssess the ongoing performance of both the Museum and its trading company on a monthly basis through management accounts. At 31st December 2022 the Museum had reserves of £963.544 {2021.. £1,031.0101 of which £53,417 were restricted {2021.. £57,2701- The unrestricted reserves amounted lo £910,12712021.. £973,7401- £NIL had been designated by the Trustees. The funds freely available for use by the charity al the year end at the discretion of the Trustees amounted lo the unrestricted reserves less the Tangible Fixed Assets of £337.659 12021.. £349,81713nd Heritage Assets of £450,07212021.. £413,218). The free reserves at 31 December 2022 were therefore £122,39612021.' £210,705). During the course of 2020 and early 2021. due lo the unpreceder*led circumstances of the pandemic, Trustees made the decision lo undesignate all funds except restricted funds. c. Internal and external factors The Museum operates in a rapidly Changing environment to ￿lch market conditions and legislation regularly introduce new challenges. The Museum considers its position al bimonthly Trustees, meetings and develops policies designed lo make its longterm financial position as secure as possible. Page 5

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee} TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 d. Principal fundlng sources The principal funding sources for Avoncroft MLtseum are paid admissions, annual membership, event charges. donations. the provision of learning programmes, as well as grants from other bodies and indiwduals. There is also an annual transfer of profit from its trading subsidiary, Avoncroft Enterprises Ltd. through which tearoorn. shop and functions create trading income. Investmgnt pollcy and objectives The only sums available lo invest are those for the time being in the reslricled funds account. and those are in cash at bank. in fixed assets and in stock. The policy is to use these funds to generate addition81 income where possible, bul freedom of action is limited by the need to draw on these funds al frequent intervals lo finance the projects for whieh the resoufces were acquired. f. Plans for future periods Trustees and the Museum's management team have agreed that, following such a dramatic step change in the museum's fortunes due to the pandemic, a slow. solid recovery is desirable. Our three-year plan is based around: 2022 Groundworks rebuilding systems and visitor offer lo provide a stsble basis for- 2023 - Goc*J Foundations increasing visitor numbers and earned income, improving the condition and presentation of heritage assets.. - Rebuilding- full commercial offer within context to agreed strategic direction. Structure, Governan¢e and Management a. Goveming document The Charity is controlled by its governing docurnent. a Momorandum and Articles of Association, and constilules a charitable company, limited by guarantee. as defined by the Companies Act 2006. b. Organisational structure Poliey 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 19 paid stsff at the end of 2022 lof which 8 were non-casual staff induding a mix of full- time and part-time permanent staff and agency staff).. . Volunteers The Museum is supported by a team of volunteers who undertake nurnerDUS roles al the Museum including inlerpretalion, maintenance. cataloguing. gardening, marketing, fundraising etc. Volunteering was significantly impacted by the COVID19 pandernic, with volunteers unable to corne in during lockdown restrictions, reduced capacity lo manage volunteers with significantly reduced staffing. and some volunteers feeling unable lo return once the museum was able to reopen. The volunteers who do conb'nue lo provide their time are vitsl to the ongoing running of the museum, and further recruitment will be a priority during the recovery period. There are 94 who give their lime free of charge but are able to reclaim their travel expenses. Page 6

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 d. Wlder network The Museum works within an informal neI￿Ork of publlc and charitabte museums in Worcestershire. the Wesl Midlands and the wider UK. 11 is a member of a number of volLJnlary bodies such as the Association of Independent Museums and tourism bodies such as Visit Worcestershire. 11 receives no regular support from local authorities and relies entirely on funds generated from admissions, trading and grant aid from other relevant charities. The Museum is a partner body of the North-E8St Worcestershire Cultural Compact. working wrth the local district council and other arts and cultural bodies who are interesle¢J in engaging with local communities, and collal)oraling lo increase access Its arts. heritage and culture. The Museum works in partnership with the Transport Museum, Wythall, the Norton Collection Trust and Worcestershire Communty Rail Partnership lo link the Museum with the Raithy Station and Ihe Norton Collection Trust using heritage bus rides on special event weekends - to encourage use of public transport and increase accessibility to the Museum. HOW College are in the third year of bringing their Skills to Work students lo the Museum to work in the grounds and gardens, and bring the allotment back into use. The Museum continued lo deliver the Dialect and Heritage Project run by Leeds University and funded by the Arts Council, and has also re-eslablished links with Worcester and Birmingham Universities with the view lo future collaborations. During 2022 the Vvesl Midlands Historic Buildings Trust were based in office space at the Museum and this has helped lo foster a closer working relationship. e. Related partles Avoncroft Enterprises Limited is a wholly owned subsidiary of the Charitable Company. The principal activity of Avoncroft Enterprises is to provide trading semces to Avoncroft Museum of Historic Buildings. f. Recfultment and appointment of new Trustees The Trustees are elected at an Annual General Meeting for a period of three years al which point they musl retire and seek reelection. The Trustees provide their services free of charge. The Council may co-opt Trustees in betsveen AGMS but they must then be pul forward for elects'on at the next AGM. g. Electlon of Trustees The AGM was held on 27 November 2022. Sue Pope. who was cTropled as a Trustee in December 2021 was confirmed and elected by members at the AGM for a term of3 years. Mark Armstrong was r￿eleCts￿ by members al the AGM for a furtheT term of 3 years. After the year end bul before the preparation of this report Andrew Hurley stood down as a Trustee. Kathy Gee stood down as Chair and Trustee. and Mark Amistrong was confimied as Chai¥ of Trustees. h. Indudlon tralnlng for new Trustees Appropriate training relating lo Tnjslees, responsibilities is givgn to new Trustees on appointment. Page 7

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Statemènt of Trustees. responslblllties The TTUStees Iwho are also directors of Avoncroft Museum of Historic Buildings for the Purposes of company law} are responsible for preparing the Tnjslees Annual Report lincluding the Strategic Plan) and the financial slalements in accordance with applicable law and United lthngdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Praclicel. Company Law requires the Trustees to prepare financial statements for each financial year which give a twe and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including the income and experKliture of the charitable company for that period. In preparing those financial statements, the Trustees are required to= select suitable accoijnling policies and then apply them consistently observe the methods and principles of the Charities SORP 2015 IFRS 1021 make judgements and estimates that are reasonable and prudent stale whether applicable UK Accounting Standards have been followed, subject lo any materlal departures disclosed and explained in the financial slalements prepare the financial ststements on the going concern basis unless it is inappropriate lo presume that the company will continue in operation The Trustees are resw)nsible for keeping PToper accounting records which disclose wth reasonable accuracy at any time Ihe financial position of the Company and enable Ihern to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 2 5. behalf by.. and signed on their Mark Armstrong Deputy Chair al 31 D￿ernber 2022 Chair of Trustees from April 2023 Page 8

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Indapgndent Examlnevs Rèport to th& Trustees of Avoncroft Museum of Hlstorlc Bulldlngs Ilhe Group'l I report lo the charity Trustees on my examination of the consolidated accounts of the Group comprising the Avoncroft Museum of Historic Buildings I'lhe parent Compan￿) and its subsidiary undertakings for the year ended 31 December 2022. Responsibilities and Basls of Rèport As th8 Trustees of the parent Company land its directors for the purposes of company law} you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both parent Company and the Group are not required by etther company or charity law to be audited and have chosen instead lo have an independent examination. Having satisfied myself that the consolidated accounts are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examlnation of the Group's accounts carried out under section 152 of the Charities Act 2011 I'lhe 2011 Act'l. In carrwng out my examination I have followed the Directions given by the Charity Commission under section 152151{bl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and conseq4Jenlly does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goas beyond the limited assurance that an independent examination can provide. Consequently l express no option as lo whether the consolidated accounts presenl a 'true and fairf view and my report is limited lo those specrfic matters set out in the independent examinerfs statement. Independent Examlnerfs Statement Since the Trustees have opted to prepare consolidated accounts for the Group your examiner musl be member of a body listed in section 145 of the 2011 Act. I confirm that l am qualffied to undertake the exarnination because l am a member of ICAEW. which is one ol the listed bodies. I have completed my examination. I confimi that no matters have come to my attents'on in connection Mth the examination giving me cause to believe- accounting records were not kept in respect of the parent Company and its subsidiaries as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of secb'on 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and faiV view which is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)- I have no concerns and have come aeross no other matters In connection with the examination lo which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. This report is made solely to the Companls Trustees, as a body, in accordance wth Part 4 of the Charities Page 9

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Companvs Truslees those matters l am required lo stale lo them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the parent Company and the Companls Trustees as a b(xly, for my work or for this report. Signed.. Kerry Brown Crowe U.K. LLP Chartered Accountants Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Dated.. 25 September 2023 FCA Page 10

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 310ECEM8ER 2022 Unrestrlcted funds 2022 Rèstricted funds 2022 Total funds 2022 Total funds 2021 Notè Income from: Donations and legacies Charitable activities Other trading activities Investments 85,719 189,290 193,139 5,387 85.719 189.290 193,139 5.387 234,442 113. 787 115, 139 7,600 Total income 473.535 473,535 470,968 Expenditure on: Raising funds Charitable activities 170,585 362.834 170.585 366,687 94,t39 341.722 3,853 Total expgnditure 533,419 3.853 537.272 435.861 Net (expendltureifincorne betoro Lixation Taxation (59,8841 13,729) 13.853) {63,737) 13.729) 35,107 (504) 13 Net movement in funds (63.613} {3,853} (67,466> 34,603 Reconciliation of funds: Total funds brought forward Nel movement in funds 973.740 163,6131 57,270 (3,853) 1,031,010 167.4661 996,407 34.603 Total funds carriod forward 910,127 53,417 963,544 1,031,010 The Consolidated Statement of Finaneial Aetivities indudes all gains and losses recognised in the year. The notes on pages 17 to 51 form part of these financial statements. Page11

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) REGISTERED NUMBER: 00830659 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Noto Fixgd assets Tangible assets Heritage assets 14 337.6S9 450,072 349,817 413.218 15 787,731 763,035 Current assgts Stocks Debtors Cash al bank and in hand 17 18 2,240 21.904 249,648 41 26,882 332,460 273,792 359.383 Creditors.. amounts falling due wllhin one year 19 197.979) (91,408) Net current assets 175,813 267.975 Total assets less current liabilities 963.544 1,031,010 Net assets oxcluding penslon asset 963,544 1.031,010 Total not assots 963,544 1.031,010 Charity fund$ Restricted funds: Restricted fvnds 53,417 57,270 Total reslricted funds UnrestrTrcted funds 53,417 910.127 57.270 973.740 Total funds 963.544 t,031,010 The Company was entiued to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in queslv)n in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying wrth the requirements of the Act with respect lo accounting records and preparation of financial stalements. Page 12

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) REGISTERED NUMBER: 00830659 CONSOLIDATED BALANCE SHEET {CONTINUED) AS AT 31 DECEMBER 2022 The financial statements have been prepared in accordance wth the provisions appliGable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by.. Mark Amstrong Deputy Chair as al 31 December 2022 Chair of Tiuslees from April 2023 The notes on pages 17 10 51 form part of these financial statements. Page 13

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) REGISTERED NUMBER: 00830659 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notg Flxod assets Tangible assets Heritage assets Investments 14 15 16 . 332.290 450.072 8,000 344.424 473,218 8,000 790,362 765,642 Current a$sets Debtors Cash at bank and in hand 18 44,708 186,937 31.743 291.434 231.645 323, 777 Creditors.. amounts falling due wllhln one year 19 149.973) (47, 612) Net current assets 181,672 2T5,565 Total asset5 less current liabilities 972,034 1,041,207 Not assets excludlng penslon asset 972.034 f.041.207 Total nel assets 972.034 1,041,207 Charity funds Restricted funds.. Reslricled funds 53,417 57.270 Total restricted funds Unrestricted funds 53.417 57,270 General funds 918,617 983,937 Total unrestricted funds 918,617 983,937 Total funds 972,034 1,041,207 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Ael 2¢106. Page 14

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limitgd by guarantse) REGISTERED NUMBER: 00830659 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022 The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financi81 statements have been prepared iri accordance with the provisions applicable lo enlilies subject lo the small companies regime. The financial slalements were approved and aulhorised for issue by the Trustees on and signed on their behalf by.. 25191701- /LV. 6f. Mark Am)strong Deputy Chair as al 31 December 2022 Chair of Trustees from April 2023 The notes on pages 17 10 51 fomi part of these financial statements. Page 15

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantgel CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash flows from opgrating adivities Net cash used in operating activities {38,2771 44,380 Cash flows from investing a¢tlvitles Purchase of18ngible fixed assets Puchase of heritage assets {6,2531 138.2821 (4,569) (900) Net cash used in inv8sting activitlO$ {44,5351 {5,4691 Chango in cash and cash oqulvalents In the year Cash and cash equivalents at the beginning of the year {82.8121 332.460 38.911 293.549 Cash and cash gquivalents at the end of the year 249,648 332,460 The notes on pages 17 to 51 fom) part of these financial stslemenls Page 16

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General infomiation The Avoncroft Museum of Historic Buildings is a company limited by guarantee in England, whose registered office is Stoke Heath, Bromsgrove, Worcestershire, 860 4JR. The companls registered number is 00830659 and ils charity registration number is 241644. The members 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 member of the Avoncroft Museum of Histori Buildings. Accountlng policies 2.1 Basls of preparatlon of flnancial statgrngnts The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in the UK alld Republic of Ireland IFRS 102) and the Companies Act 2006. Avoncroft Museurn of Historic Buildings meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olheTW5e ststed in the relevant accounting policy. The Consolidated statement of financial activities ISOFAI and Consolidated balance sheet consolidate the financial slatemenls of the Company and ils subsidiary undertaking. The results of the sub$idi8ry are consolKlated on a line by line basis. The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presenled ils own Statement of financial activities in these financial slalements. 2.2 Going concern The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. A cautious budget and business plan is being fdlowed for 2023-24. The realistic budget for 2023. relleels caution in visitor numbers as covid recovery and cost of living impact continues. There is an allowance for significant fundraising income to enable investment in underlying systems in 2022123. If fundraising targets are not achieved. new planned staff posts will not be filled and growth will be slower as a result. The 2023 budget shows a planned deficit of £92,000, which can be drawn down from existing cash reserves, and is intended as investment in staff and processes which are necessary to enable future recovery and growth in 2024 and beyond. Every effort will be made to manage costs lo reduce this planned doficil where wssible while still investing in future recovery. There is an agreed overdrafl facilty of £100,000 which can be used rf needed to tide over the winter closed period. Indicative cash flow forecasts to end 2024 indicate potential need lo draw slightly on overdraft occasionally. Budgets are being developed for the rest of the business planning cycle which will aim to maintain minimum reserves as per reserves policy. There are no material concerns about the Museums ability to continue and therefo￿ the accounts have been prepared on a going concern basis. Page 17

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollciès (continugdl 2.3 Fund acwunting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of th8 general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is set out in the notes lo the financial slalements. 2.4 Income All income is recognised once the Company has entitlement lo the income. it is probable that the income will be received and the amount of income receivable can be rneasured reliably. Grants are included in the Consolidated slalement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors 8s deferred income. Vvhere enlitlemenl occurs before income is received, the income is accrued. Income tax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. 2.5 Expendlture Expenditure is recognised once there is a legal or constructive obligats'on lo transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directty to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single 8cliv¢ty are 8PFX)rtioned between those activities on a basls consistent with the use of resources. Central staff costs are allocated on the basis of time spent, 2nd depreciation charges alIC￿ated on the portion of the assevs use. Expenditure on charitsble activities is ineurred on directty undertaking the aclimties which further the Group's objectives, 88 well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 18

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollclos lcontinuedl 2.6 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Company is potentially exempl from laxats'on in respect of incorne or capital gains received within categortes 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 charitable purposes. The trading subsidiary company makes a qualIf￿ng donation of all taxable profits to the Charity a5 long as available funds pemiit. The lax charge present in the accounts relates to the the taxable pmfits of the trading subsidiary which were not able lo be donated. 17 Tangible flxgd assets and depreclatlon Tangible fixed assets are initially recognised at cost. After ￿Ognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumLJlaled impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straighl-line method. Depreciation is provided on the following bases- Freehold propety Plant and machinery Equipment and machinery Fixtures and fitbngs other fixed assets (Play Areal 2Vh and 8.33% straight line 10fjA and 25Yo Straight line 5QA straight line 2.8 Herltage assets Heritsge assets are recognised on the balance sheet and initially measured al eost when purchased or if donated. their valuation. Assets are subsequently staled at cost or valuation less accumulated depreciation and accumulated impaimient losses. Fair value for donated assets are eslimaled by reference to market prices. Where information on the cost or valuation of heritage assets is not available or the cost of providing such information S￿nifICant1Y outsveighs any benefit to the users of the accounts then heritage assets are not recognised on the balance sheet. Assets wtll be preseNed by the charity in order lo keep their historical, artistic, scientific, technological, geophysical or environmental qualities lo such a high level as to contribute lo knowledge and culture. A register of all assets held by the charty is available and the assets themselves are accessible to the public with prior agreement. Heritage assets are lo be held for the foreseeable future. Heritage assets are nol depreelaled as their useful life is indefinite with one exception, Forge Cottage, whbch has parual commercial use and is depreeiated on 3 2°h straight line basis. Page 19

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by guarante0} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 AG¢ounting pollcles {contlnued} 2.9 Investments Fixed asset investments are a form of financial instrument and are initialty recognised al their tr8ns8clion cost and subsequently measured al fair value at the Balance sheet date, unless the value cannot be measured reliably in which case il is measured 8t cost less impairment. Investment gains and losses. whether realised or unrealised. are combined and presented as 'GainsllLossesl on investments, in the Consolidated slalement of financial activities. Investments in subsidiaries are valued al eost less provision for impaimient. 2.10 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group,. this is normally upon notification of the interest paid or payable by the institution wth whom the funds afe deposited. 2.11 Operatlng leases Rentals paid L¢nder operating leases are charged to the Consolidated statement of financial activities on a slraighl line basis over the lease term. 2.12 stocks Stocks are valued at thè lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.13 Flnanclal Instruments Debtors Short term debtors a￿ measured at transaction price, less any impairment. Credltors Short term creditors are measured at transaction prfce. Cash Cash is represented by cash in hand and deposits with financial inslilulions repayable without penalty on notsce of not more than 24 hours. There are no complex financial instruments. 2.14 Penslons The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. 2.15 Role of volunteers The charity relies on the efforts of its 90 volunteers. The value of these volunteers is not incorporated within the accounts. Page 20

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accountlng •stimates and areas of judgmgnt 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 rcumstances. Critical accounting estimates and assumptions: Donation of equipment hire (ill Donation of professional services In accordance with the Charities SORP FRS 102, the charity has valued the benefrt il receives Irom donated services as £Nil12021- £Nill. This is based on the open market value of the benefits received. Page 21

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Income from donatlons and lega¢las Unrestrlcted Restrlctgd funds funds 2022 2022 Total funds 2022 Donations Grants Gift aid 25,249 57,994 2,476 25.249 57,994 2,476 85,719 85.719 Unrestricted funds 2Q21 Restiycled funds 2021 Total funds 2021 Donations Grants Government grants Gift aid 63,957 143,559 13.080 7,846 6,000 69,957 143.559 13.080 7,846 228,442 6,000 234,442 Income from charitable actlvltles Unrestricted funds 2022 Total funds 2022 Total funds 2021 Events income Teaching - Schools and Adult Educalion Memberships Admissions 1.082 9.028 14. T13 88.964 5.428 10,401 115,713 57.748 5,428 10.401 115.713 57.748 Insurance Claims - Loss of Eamings 189,290 189.290 113, 787 Page 22

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarant991 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Fundralslng Income Income from fundralslng events Total funds 2022 Total ftinds 2021 Fundraising income Income from non charitable trading aclivltles UnrestriGtod funds 2022 Total funds 2022 Total funds 2021 Sales Room hire 55,208 123.790 14,141 55.208 123,790 14,141 52,449 48,642 13,994 Other trading income 193,139 193,139 115,085 Investmgnt incomo Unre$tri¢tgd funds 2022 Total f unds 2022 Total funds 2021 Rental income 4.787 587 13 4,787 587 13 7,328 270 Deposit account interest Interest receivable 5,387 5,387 7,600 Page 23

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Expendlture on ralslng funds Other tradlng expenses Unrestrlcted funds 2022 Total funds 2022 Tol81 fvnds 2021 Cost of sales Adminislralion expenses Cost of sales staff costs Distrtbution staff costs 70,574 36,796 63,215 70,574 36,796 63.215 31,007 27.525 35.393 214 170,585 170.585 94,139 Anatysis of expenditure by adivities Support costs 2022 Total funds 2022 Total funds 2021 Costs of operating museum 366,687 366.687 341.722 Page 24

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysi$ of gxpendlture by actlvltles leontlnued) Analysls of support costs Total funds 2022 Total funds 2021 Staff costs Depreciation Teaching courses Demonstrator costs Events Web design, software and IT support Rent and rates Insurance Light, heat and water Telephone and stationary Visitor service expenditure Promotion and publiclty Conservation, maintenance and cleaning Travel Volunteer expenses Sundries Bank interest Bank charges Independent examiners fee Accountancy fees Professional fees Trustee expenses Amortisation 213.387 19.838 1,753 174,207 20.270 556 205 4,891 10.350 3,043 11.214 23.491 6,477 4,134 5.759 2.284 10.340 28.654 7,728 331 4,380 37,895 180 22.455 36,804 191 1.829 6.333 520 3,797 1,500 4,675 5,180 1,643 5.990 423 3,840 4,264 5,400 2,124 9,788 286 366.687 341.722 Page 25

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Independent examlnerfs remuneration 2022 2021 Fees payable lo the Comp8nVs independent examiner for the independent examination of the Company's annual account5 Fees payable to the COmpan￿S independent examiner in respect of.. All other services not included above 3,000 2,600 4.524 5,258 11. Staff costs Group 2022 Group 2021 Company 2022 Company 2021 Wages and salaries Social security costs Other pension costs Recruilmenl and training expenses 251,210 12.240 6.714 6.438 198,842 4,946 6.026 187.995 9.891 5,242 6,438 163,235 4,531 5,336 276,602 209,814 209,566 173, 102 The average number of persons employed by the Company during the year was as follow5.. Group 2022 No. Group 2021 No. staff 17 28 No employee received remuneration amounting to more than £60,000 in either year. The key management personnel consL%ls of the trustees, Museum Diredor, Commercial Manager, Estates Manager, Heritage & Inlerprelation Manager and Finance Manager. The lolal remuneration paid to the key management personnel was £151,85712021- £59.3921. 12. Trustees. remuneratlon and expenses Duiing the year, no Trustees received any remuneration or other benefits (2021- £NILJ- During the year ended 31 December 2022, expenses totalling £NIL were reimbursed or paid directly lo Trustees (2021- £NILI. Page 26

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. Taxation 2022 2021 Corporation tax Origination and reversal of timlng differences Changes lo lax rates 3,426 303 1,841 (1.337) Totsl dgfgrred tax 3.729 504 Taxation on net lexpendlture}Ilncome 3,729 504 There were no factors that affected the tax charge for the year which has been calculated on net {expenditurellincome at the standard rale of corporation tax in the UK of 19D/o (2021- 19%). In March 2020 the UK Government announced an increase in the UK Corporation Tax headline rale to 250/0 with effect from 1 April 2023. Page 27

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Tangible fixed assets Group Equlpment Fixtures Other fixed Freehold Plant and and and assets property machinery machlnery rittings (Play Area) Total Cost or valuation At 1 January 2022 Additions DisF)osals 467.296 11.700 103,793 6,253 157,8511 20.473 43,443 646,705 6,253 {57,8511 Al 31 December 2022 467,296 11.700 52,195 20.473 43.443 595,107 Depreciation At 1 January 2022 Charge for the year On disposals 170.521 7,122 11,700 80.645 9.732 {57.8511 15.080 18,942 296,888 1,557 18.411 {57.8511 Al 31 December 2022 177,643 11.700 32,526 15,080 20.499 257.448 Net book valug At 31 December 2022 289,653 19,669 5,393 22.944 337.659 At 31 December 2021 296, 775 23,148 5,393 24.501 349,817 Page 28

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A Gompany limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Tangible fixed assets (continued) Company Equipment Othor fixed Freehold and assets {Play property Machinery Areal Total Cost or valuatlon Al 1 January 2022 Addib'ons Disposals 465,136 103.793 4,966 (57.851) 43,443 612,372 4.966 157.851> At 31 December 2022 465,136 50.908 43,443 559,487 Depreciation At 1 January 2022 Charge for the year On disposals 168.361 7,122 80,645 8.421 (57.851) 18,942 1,557 267.948 17,100 {57.851) Al 31 December 2022 175.483 31,215 20.499 227.197 Net book value At 31 December 2022 289.653 19,693 22.944 332.290 Al 31 DeGember 2021 296, 775 23,148 24,501 344.424 Page 29

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarante¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Herltage assets Group and Company Assets rgcognised at cost Herltage assets 2022 Carryng value at 1 January 2022 Additions Depreciation 413,218 38,282 {1.4281 450.072 Two assets included in Heritage Assets were revalued on 31 December 1994 by John Sanders F.R.l.C.S Chartered Surveyor. If Heritsge Assets had not previously boen revalued they would have been included at cost of £371.452 12021- £333.1701 and accumulated depreciation of £23.99012021- £23.1611. A revaluation reserve of £101,81112021 £102,410) relating lo these assets is included in general funds. Tangible fixed assets- horitage assets on Balance Sheet The following items are now on the Museum's balance sheet as heritage assets.. Herltage Asset Year of add￿lon Amount to Datg Forge Cottage Hill End Cottage Hill Cr(x)rre Do￿ote DornBlon Dowole Anderson Sheller Threshing Machine ring Court Shelter 1994 1994 2001 2CM)1 2CX)8 2010 2012 £29,990 £102,000 £2,341 £2,957 £1,406 £1,064 Lil £24.094 £211.442 £600 £18,836 £360 £800 £15,000 £39,182 Nailers Cottage 'r-Paid Shelter from Dudley r1￿r-Frar￿ Cottage from SneactrMII TIrrber-Fra￿E Barn from Doron Te*hone Kiosk IM)wch Type) Cricket Pa￿lI0n Thresher's Barn Thatched Fioof 2012 2013 2014 2016 2018 2019 2021 Total £450.on Page 30

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Dlsposals No disposals from the collection were undertaken in year. Four year financial summary of heritage asset transactions.. 2019 2020 2021 2022 Carrying amount al beginning of reporting period Additions £400.195 £415,173 £413,746 £413.218 £16.405 £0 £900 £38.282 Disposals £0 £0 £0 £0 Depreci8tionfimpairmenl 1£1.4271 1£1.4271 (£1,428) {£1.4281 Re-valuation £0 £0 £0 £0 Carrying amount al reporting dale £415.173 £413,746 £413.218 £450.072 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 no additions to the heritage assets disclosure The Museum's heritage assets fall into the following categories.. Historic buildings The collection of historic buildings is su&divided into the following three categories- Historic buildings rescued and re-erected on the Museum s site This collection consists of 30 historic buildings and structures which dale from between the 1330s and lale-201h century and which have been rescued and re-erecled as part of the Museurn's collection at its Stoke Heath sile. Each have their own historic significance, however, most notable among them from a rarity or uniqueness value are the Gueslen Hall Roof - a structure dating from the 1330s which was the Toof to the Prior of Worcester's great hall where he gnlertained guests, the National Telephone Kiosk collection a untoue colleth'on of every type of GPO and BT telephone krosks used since the 1920s with additional Oice, AA and RAC boxes, and the medieval Town House from Brornsgrove, a c1450 house which was the first Avoncroft exhibit and therefore the first exhibit lo be rescued by an open-air Museum in England. Most of this collection a￿ single buildings. though some ale part-buildings or structures {Plas Cadwgan & Fibreglass spire) while one is a collection of structures (National Telephone Kiosk Colleclionl. Page 31

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees do not consider that reliable cost or valuation information can be obtained for the majority of the historic buildings because by their very existence in having lo be rescued and brought to Avoncroft Museum because of redundancy they have an intangible market value. Whereas most may have had a market value in their original situation had they survived there, this will be significantly different now they are collected together al Avoncroft. The Museum does not therefore recognise these assets on ils Balance Sheet. other than recent acquisitions which are reported al cost, 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 is not recognised on the balance sheet will be treated as an addition lo 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 incurred in the year are expensed in the statement of financial activities and not capilalised on the balance sheet as these costs are incurred to preserve the original slate of the building. The TTUStees consider all of these exhibits have an indefinite life and does not Iherefore depreciate them. Page 32

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Herltage a$$ots lcontlnuedl Heritage Assets- Historic Buildirbgs re-erected al the Museum Cost 3111212021 Additions in year Cost 3111212022 Intenance Costs in Medieval Town House Plas Cadwgan Guesten Hall £6,523 £6.523 £13.504 £619.935 £28,586 £13,504 £619,935 £28,586 WirKlmill Nailshop Chainshop anary £3.436 £1,776 £3,436 £1,776 String of Fbjrses £89,698 £89,698 Threshing Barn Cctkpit nting Pbuse Racksaw £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 £10.255 £44,639 £7,021 £15,577 £15,732 £13,869 £29,937 £30,315 £25.3C £31.347 £44,764 £46,462 £42,241 Stable Wagon Shed Prefab Iceh(xAse Privy D0￿cOle Toll Pbuse Cell Bbck Perry Mll Telephone Kiosks Mission Church £166,198 £166,198 £59,533 £59.533 Fibreglass Spire £45.340 £45.340 £1,391982 £1,392,982 £0 Page 33

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2022 Maintenance costs in the year are expellsed through the statement of financial activities. In 2022 Avoncroft has undertaken limited maintenance spend as the museum emerged from the Covid-19 shutdown and needed to review priorities and requirements and re-build capacity to undertake essential and preventive maintenance. In addition, the Trustees consider Forge Cottage, an 18th-cenlury timber-framed house with attached farrier's forge which was rescued from Wellinglon, Herefordshire as a heritage asset. Although 'principalty held for its contribution lo knowledge and culture,, approximately 80V/o 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 400/0. Visits to the building to consult the Library and Archive are available lo the public by appointment. Al the point the majority of the building is used for its heritage value. it will be considered solely a heritage asset. and al that point would cease lo depreciate. Two other heritage assets. the Gueslen Hall roof and the String of Horses buildings currently provK4e an element of commercial use. The Gueslen Hall is open to the public as an exhibit lor more than 85./0 of the time during Museum opening hours and is used for approximately 25 weddings and 5 conferences a year. The String of Horses uses about 25 /0 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 principally for their use as a Heritage Assets and their historical contribution to knowledge and culture. Historic buildings restored in-situ and owned freehold away from the Museum As well as rescuing buildings and moving them lo the Museum. Avoncroft in its earty years restored several redundant buildings or structures in silu, and in some cases acquired these as freehold properties. Two buildingslstructures are slll held on this basis. A box timber-framed dovecote originally part of the Moat Fami. Dormslon, Worcestershire. Cost £2,341. Owned freehold bl A cruck limber-framed dovecote at Glebe Fam), Hill Croome. Worcestershire. Cost £2,957. Owned freehold The Museum considers these assets lo have indefinlle lrfe and therefore does not depreciate them, although they are accounted for on the balance sheet. Historic buildings in the course of re-erection on the Museum's sile or stored in anticipation of reereclion in the future Page 34

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limlted by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 15. Heritagg assots (continued) 1] Nallerfs Cottage A project lo rescue a mid-19th century collage. representative of those built for the Bromsgrove nailing trade, began in 2012 following permission lo demolish it had been granted. A Your Heritage Lottery Grant enabled the dismantling of the building, and in 2014 Phase l of the re-erection began al Avoncroft. R construction of the Cottage was completed in 2019. and it was opened to visitors for the first lime in 2020. Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Total to date Proi9Ct costs 28,235 9,484 114,502 5,836 88 48,8 7,198 3,500 217.739 The project incurred costs which 8re accounted for on the balance sheet under the acquisition of a new heritage asset. Phase11 of the project, lo complete the interior of the rescued building began in 2017 and was completed in 2020, with the building opening lo the public during the Autumn. After significant damage during the vandalism of May 2021 the cottage had lo be olosed again lo enable repairs and re- dressing. It was open again lo visitors from Autumn 2021 onwards. 21 Tlmber-framed Gottagg rgSCUod from Sneachlll, Worcestershlrg Following the granting of demolition permission, Avoncrofl negotiated with the owner over the dismantling and rescue of a limber-framed cottage believed to date from the late-17th or 18th century with substantial brick additions dating from the middle-191h century. The cottage was dismantled during September and October 2014. Year Project costs 2014 £336 2015 £18,500 2016 £0 2017 £0 2018 £0 2019 £0 2020 £0 2021 £0 2022 £0 Total to dato £18,836 The cottage is currently awaiting re-ereCt￿ on the Musgum's site. Page 35

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 3] Barn frame from Dordon, North Warwickshire In 2016 the Museum was given 8 Partially-restored frame of a box-framed threshing bam dismantled some years ago from near Dordon in North Warwickshire. Avoncroft has accepted this on the basis that il is 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 osts associated with this building have been the cost of transporting the components of the limber frame from storage from Beoley, Worcestershire. The barn frame is temporarily stored opposilo the Museum's Showman's Wagon building. Year 2018 2017 2018 2019 2020 2021 2022 Projgct Costs £360 £0 £0 £0 £0 £0 £0 Total to date £360 4] Telephone Kiosk, c1905 01 the 'Norwlch' type The Museum acquired a very rare earfy telephone kiosk from before the GPO (General Post Office) became the national provider of telephone serwces and public call boxes in 1912. Thought to have been installed c1905, the kiosk is a wooden structure of the 'Norwich' pattern which was the pre-stsndardis8tion shelter design for public telephones in LFse by the National Telephone Company in the East Anglia region. Originally sited al Gonville Place, Cambridge it has been acquired from the family of a collector who rescued il in the 1980$. The Museum is very grateful to an anonymous donor who funded the purchase (£8001 for Avoncroft. Although acquired in 2017. the kiosk did not arrive at the Museum until early 2018. Significant restoration of the kiosk is required. Year 2018 2019 2020 2021 2022 Profvct costs £0 £0 £0 £0 Total to dat• £0 Page 36

AVONCROFT klUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 5] Crickot Pavlllon from Worcestèr City The Museum has acqulred the remains of a Victorian Cricket Pavilion which was once home to Worcestershire Cricket Club. The building wtll make an interesting exhibit to tell the story of Midland sport once rebuilt, a project that will lake significant investment. It was dismantled in Summer 2019 and is currently stored temporarity opposite the Showman's Wagon building. Year 2019 2020 2021 2022 Propct costs £15.000 £0 £0 £0 Total to date £15,000 Bulldlngs rescued in the past 61 Water mill & machlnery from Temple Balsall FaTrn, Temple Balsall. Sollhull In 1983 the Museum rescued parts of a farm mill and the water mill wheel and machinery. The project to re-erect this building was attempted ￿'ce 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 at the Museum. The origlnal cost of the rescue of the machinery and building parts was £14.738. The Museum considers this to be a heritage asset not on the Balance Sheet. Pig Sty from Longdon, Worcestershlre A small wooden pig sty was rescued in April 1978 from Longdon, Worcestershire al a cost of £528. though the roof structure was known. il wasn't until after recent digitisalion of some of the Museum's slide images from this period. that il was realised that several sections of the wall structure were also stored nea￿Y and enough of this building survives to re-erecl it. Larger non4)ulldlng herltage a$$ets Carts, wagons, agricultural equlpmenl and other mobile exhiblls al Showman's Wagon From 1991- 1998 the Museum undertook the restoration of a 1910 Showman's living caravan which had been presented lo the Museurn by the surviving children of the origlnal owner Tom Clarke. The elaborate interior and the mahogany panelled exterior were carefully conserved, new wooden wheels made instead of the replacement pneumatic ones and the ornamental palntwork scenes on the interior were all restored. In order lo preserve this work a special exhibition shed whh Interpretation about the history of funfair showmen. the Clarke family and the wagon was constructed to house it. The cost lo restore and house this exhibit was £95.627. Page 37

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by 9uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 b] Road menders, Wagon The Museum was given a 1911 Worcestershire County Council road menders, living wagon in 1972 which was then restored by the Museum. It is thought lo 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 al the Stanford depot until il was given lo the Museum. The 'Caledonia Queen, casl-iron slove with which il is now fitted was removed from one of the other redundant wagons. The cost of the original restoration was not recorded 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 ils size, and lack of an appropriate building. has been displayed in the open. c] Miller's Wagon This vehicle was rescued from Arrow Mill, near Alcester, warwicksh1￿ and presented to the Museurn in 1980 by Mr Tony Carr and was restored in 1983 by Mr Michael Horler at Radford near Bath. It is thought to have been built by Glovers of Warwick al the end of the 19th century. The cost of the origin81 restoration was not recorded in the Museum's Annual Report or Accounts in 1983. It is in need of further restoration which is in planning. d] Fire ladder The 'curricle' wheeled fl￿-eScape ladder was used as a basic firefighting engine and extending ladder at Umberslade Hall, Tanworth in Arden, Warwickshire. It dales from the lale-19th century. el GPO Morris Mlnor van This van, DVLA Registration NLW 918, during its working life was under the control of the Telephone Manager, Chester and w8s first registered in 1959. This vehicle was part of 8T's Histor￿ Vehicle Flegl Collection and was transferred into Avoncroft's ownership at the formal opening of the Kiosk Collection.11 is kept in working condition. Agrl¢ultural exhlblts The Museum holds an extensive agricultural collection including machinery. hand tools, animal and Iractor-drawn equipment. The stored collections of hand-tools have been catalogued and the Museum will shortly be undertaking a survey of the larger-scale machinery. None of these collections are known lo be of significant value. Notable larger items of agricultural equipment include a 1930s reaper-binder, early 20th century hay elevator. a collection of ploughs, harrows, rolavalors and seed drills, two Lister stationary engines and various items such as chaff-cutters, sack lifts. butter making equipment. Archltectural and bullding$ wllectlon The Museum holds a wide-ranging collection of items relating to the building trades as well as a study colleelion of architectural fragments and materials including a subslanlial collection relating to the briekmaking trade. There is also a large colFeclion of woodworking tools suitable for both the cabinet- making and joinery trades, some of which are on display in the Introductory Exhibition. Flre-mark collectlon The Museum holds a significant collection of metal insurance fire-marks. This collection, was donated by Mr Peter Coard, and was valued in 2004 at £30.000 by Mr Phil Morris, a committee member of the Fire Mark Circle society. In 2016 Avoncroft acquired three high-quality large museum display cases and displays incorporating a a selection of the fire-marks are now viewable by the public, along WTth contextijal displays about the history of how fire affects buildings. Pa9e 38

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limitgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Other small exhibits Many of the buildings which have been rescued have also had collectlons of appropriate contents collected for display in the re-erecled exhibit. These include appropriate trade tools, furnishings and fittings, domestic items and conlexlu81 material. The Museum also collected a stored collection of small objects which were lo be used either in existing or future exhibit buildings or for other aspects of the Museum's displays. Sir Hugh Casson watercoloufs.. Sir Hugh Casson 11910-19991 was an architect, artist, interior deswner, writer and broadcaster who became the first President of Avoncroft Museurn of Buildings in 1963 until he retired in 1992. These four walercolour views of Avoncroft were given by Sir Hugh in 1991 to aid the Museum's fundraising efforts. Value approximately £350 each. based ofi other walercolour drawngs by C8sson sold in the UK in 2006-2012. Valuation by Simon Carter, previous Museum Director, March 2014. John Piper11903-19921 John Piper was also involved in the Museum in the early years and the Museum and supported fundraising. Avoncroft owns prints. one called 'Avoncroft Museum, 1175 {19761 value - approx £2,200 - based on other versions of this print either sold or 8vai18ble. 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 Wightick Manor, Wolverhampton 29175119771- value approx £2,300 - 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 collection of engravings, modem watercdours and prints of the Museum or relaled views. None of these are thought to be worth more than £300. Archlve The Museum holds an extensive archive of published books, paper and photographic records of the history of the Museum and historic Midlands buildings both exlanl and destroyed. While full catsloguing of the collection is still underway. it has nol been possible yel lo identify any individual items which are of high value, however, there are holdings of some rel8b.vely rare 18th and 19th century books and documents relating to the building trades, architecture and English history. Pres6Thatlon costs Expenditure which, in the Trustees, view. is required to preserve or clearly prevent further deterioration of individual cotlection items is recognised in the Income and Expenditure account when il is incurred. Loans In or out The Museum has a very small number of loans (estimated less than 30 objects against a ball park figure of 14,000 objects in the colleetionl however 6 of these are large scale items which are long-temi or permanent loans. Page 39

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11 Concrete 'T2rdis' swe Glasgow Police box (fixed lo concreted surface and would require a crane to move). Loan reviewed on a regular basis. 21 Set of Victorian elaborate chimneys approx 7-8 foot high and set onlo concrete base Currer¢lly trying to establish contact with deceased lenders family. lent 1973. 31 Mobile telephone exchange Icurrenlly wired into Museum's kiosk collection and blocked in by subsequent landscapingl. This large trailer type wheeled vehicle is an integral part of the Kiosk Collection and is owned by a long-lerm Museum volunteer. 41 Showman's Wagon - very large living wagon on 'permanent loan. from descendants of the original showman and his wfe. The family were reluclanl lo donate the item when il came to the Museum in the 1990s but in order lo raise grant funding an agreement was reached whereby the major grant giver, NHMF. was to be consulted if ever there was a need to move it from Avoncroft, and that an alternative Museum or public place would be found to display it. 5] Brickmaking machine a large Viclori8n demonstration model for producing miniature bricks lo demonslrale the method at trade fairs made by C. Whittaker and Co. Ltd of Accrington, Lanc8shire is on loan from a private individual. 6] Restored GWR Goods Wagon- this rescued wagon was nearly entirely rebuilt using the original which dated from the end of the 19th century as a pattem and re-using the surviving ironwork. 11 was placed orb long-term loan al the Museum from a private individual who funded its ￿$toratIOn in 1991. A grant to carry out urgent repairs was 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 arè being considered as part of the cataloguing process. Loans out The Museum has lent a decorated gable end from Lloyd's Mansion, Shrewsbury for a period of 10 years (beginning 20101 lo Shrewsbury Museum. Preservatlon and management Avoncroft Museum is an accredited Museum under the scheme administered by Arts Council England. The Museum employs a full-lime Heritage. Collects'ons and Interprelatlon Manager as one of ils Senior Managers. The poslholder manages the collections in accordance with policies that are approved by the Trustees and are in line wth the Arts Council Accredilalion scheme. Further infomiation on the Collection is provided in the Museum's separately published Acquisition and Disposal Policy, Collections Procedures Manual and 8uildings Maintenance Plan. Copies are available on request. As explained in the Acquisition and Disposals policy. heritage assets In the collection are only disposed of when. in the opinion of the Trustees, there is 8 good curatorial reason that the item does not contribute to the interest and diversity of the Museum's collection. Page 40

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Fixad asset investments Inv8stmgnt$ subsidiary companies Company Cost or valuatlon At l January 2022 8,000 Al 310ecember 2022 8,000 17. Slocks Group 2022 Group 2021 Finished goods and goods for resale 2.240 41 18. Debtors Group 2022 Group 2021 Company 2022 Company 2021 Due within ong ygar Trade debtors Amounts owed by group undertakings Other debtors PrepayTnenls and accrued income Deferred taxation 2.561 5.857 1,252 24.898 148 18A10 413 21,241 148 19.195 7,207 10.089 3, 729 10,089 21,904 26,882 44,708 31,743 Page 41

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 19. Credltors.. Amounts falllng due within one year Group 2022 Group 2021 Company 2022 Company 2021 Trade creditors Other taxation and social security other creditors AGcruals and deferred income 40,072 5,408 14,378 38,121 40.419 3,460 10,966 36,563 33.225 2,371 14,377 34,523 2,123 10,966 97.979 91,408 49,973 47,612 20. Deferred taxation Group and Company 2022 2027 Al the beginning of the year Charge for the year 13.7291 3,729 (4,233) 504 (3, 729) The deferred tax asset 15 made up as follows- Group 2022 Group 2021 Accelerated capitsl allowances Tax losses carried forward (634) 4,363 3, 729 Page 42

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 21. Deferred Income Group 2022 Group 2021 Company 2022 Company 2021 Deferred income al 1 January 2022 Amount provided for in the year 37.670 402 18,629 19,041 4.745 1.203 15,329 (10.584) Dgferrgd income al 31 Decembgr 2022 38.072 37.670 5.948 4,745 Page 43

AVONCROFT MUSEUM OF HISTORIC BUILDINGS {A company limited by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ststement of funds - current year Balance at 31 Decembèr 2022 Balance at 1 January 2022 Income Expenditure Taxatlon Ggneral funds General Funds- all funds 973,740 473,535 1533.419) (3,729) 910.127 Tolal Unrestrlcted funds 973,740 473.535 {533,4191 13.729> 910.127 Restricted funds Bringsty Church Windmill 2.558 7,350 3.299 3,000 1,239 1,200 2.701 2.127 853 2.558 5.246 3.299 3.000 1,239 1,200 2,701 378 {2,104} Educallon Training Town House Interpretation Kiosk Collection Airing Court Shelter Wildflower Meadow Nailerfs Cottage Racksaw GWR Raihmay Wagon Wisteria Cottage from Sneachill (1.749) 853 388 2.850 2,850 354 354 Threshing Barn Primrose Hospice Hill End Cottage Bromsgrove inslilule 20,000 417 20.000 417 5,934 3,000 5,934 3.000 57.270 (3,8531 53.417 Totsl of funds 1.031.010 473.535 {537,2721 (3.7291 963.544 Page 44

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Statoment of funds - prlor year Balance at 31 December 2021 8alance at 1 January 2021 Transfers in/out Income Expenditure Unrestrlcted funds Designated funds Access improvements Library archives Education support Airing Court Shelter Nailevs Cottage Building rescue and improvements Ajr Raid Shelter 284 (284) (188) (174) (23,869) (213,637J 188 174 23,869 273,637 4,327 600 18,836 47.327 75,000 (4,327) (600) (18,836) f47.327) (15,000) Sneachill Cottage Going FoNard lo Excellence Cricket Pavilion Designated Funds - all funds 324,242 (324,242) General funds General Funds - all funds 620.895 462,84T (432, 722) 324,242 975.262 Total Unrestrlded funds 945, 137 462,847 (434.244) 973, 740 Page 45

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company Ilmlted by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Restrlcted Funds Bringsty Church Windmill 2.558 1.350 3.299 3,000 1,239 1.200 2.701 2,127 853 388 2.850 2,558 7,350 3,299 3,000 1,239 1,200 2,701 2.127 853 6.000 Education Training Town House Inlerpretslion Kiosk Collection Airing Court Shelter Wildflower Meadow Nailerfs Cottage Racksaw 388 2,850 GWR Railway Wagon Wisteria Cottage from Sneachill 354 20.000 417 354 Threshing Barn Primrose Hospice Hill End Cottage Bromsgrove institute Subtotsl 20.000 4t7 5,934 3.000 51.270 5,934 3,000 57,270 6,000 Total offunds 996.407 468,847 (434,244) 1,031,010 Page 46

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Reslricled Funds Bringsty Church For ongoing maintenance of the building. Windmill For repair and maintenance of the building. Milling al Avoncroft For the development of flour milling and the inlerprelation of the agricultural buildings al the Museum. Education For research & development of new programmes and active eaming and access for young visitors lincluding under Ssl and to support associated learning staff costs. Training To fund the training of staff and volunteets. Town House Inlerprelation To fund inlorpretive contents for the building (historic objects and replicas). Kiosk Collection For maintenance and repair of the National Telephone Kiosk Collecb'on. Airing Court Shelter For the dismantling. re-erection and repair of the building. Wildflower Meadow For the maintenance and development of the Wildflower Meadow. Nailerfs Cottage For the dismantling, re-ereclion, interpretation and repair of the building and garden. Racksaw For ongoing maintenance of the building and histori equipment. GWR Rai￿vaY Wagon For repair and maintenance of the wagon. Wisteria Cottage. from Sneachill For the dismantling, re-ereclion and repair of the building. Costume Re-enactment Project To fund the project website volunteering portal (until 20181. Threshlng Barn For re•thatching the bam mof. ACE - Going Forward to Excellence To undertake work to improve the Museum's overall resilience based on the Arts Council England Support project applicats'on. Primrose Hospice To provide respite aclivf(ies for the users of the Primroso Hospice and their families. Plas Cadwgn For ongoing maintenance of the building. Compost Toilet To provKle a composting toilet facility. Staff Support To fund the cost of staff posts. Page 47

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Hill End Cottage For repair and maintenance of the building. Elmley Foundation - Arts Events small grant fund To support a one-off arts performance (Romeo and Juliell as part of the Bromsgrove Festival 2018. Cricket Pavilion For the dismantling, r&erection and repair of the building. Tree Surgery For undertaking necessary tree surgery around the Museum'5 grounds. Young People's Volunteering To recruit and provide more volunteering opportunities and encourage participation for young people to support the work of Avoncroft. Bromsgrove Institute For the purpose of refurbishment of historic horse drawn wagon. Protection of Historic Assets For the Protection of historic assets Transfers between funds The Iransfers from restricted lo designated funds represent restricted funds used for capital spending on assets that were recorded as desHJnaled on the balance sheet al the discretion of the Iruslees. The transfers fiom designated lo restricted funds represent the allocation of the depreciation charges on assets bought using restricted funding that were subsequently recorded as designated assets. The transfers from designated to general funds represent the trustees decision lo unallocate unre51ricted funds prewously set aside for specific purposes. Donors and Grants in 2022 Arts Council CRF2 Grant Bournville Village Trust George Cadbury Primrose Hill Trust LG Harris Trust Individual donation Birmingham Common Good Trust Reddilch Westerners Association Cadburys Bromsgn)ve Court Leet Recycling Lives Other £18,394 £27,600 £12,000 £10.000 £5,000 £5,000 £1,080 £1.000 £1,000 £500 £485 £232 £3.523 Page 48

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A Company Ilmlted by guarant991 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 23. Summary of funds Summary of funds - current year Balance at 31 December 2022 Balance al 1 January 2022 Incoma Expenditure Taxation Gen8ial funds Restricted funds 973,740 57.270 473,535 (533,4191 (3,8531 (3,729) 910,127 53,417 1.031.010 473.535 1537,272) (3.7291 963.544 24. Analysis of net a$$ets betsveen funds Analysis of net assets between funds - Gurrgnt year Unrestrirted Restrlcted funds funds 2022 2022 Tot81 funds 2022 Tangible fixed assets Heiilage assets Current assets Creditors due within one year 337,659 450,072 220.375 197.9791 337.6S9 450,072 273.792 {97,9791 53,417 Total 910,127 53,417 963,544 AnalysSs of net assots betwean funds - prlor year Unrestricted funds 2021 Restric(eé funds 2021 Total funds 2021 Tangible fixed assets Heritage assets Current assets Creditors due within one year Provisions for liabilities and charges 349.817 413.218 298,384 (91,408) 3. 729 349,817 413,218 355,654 (91,408) 3.729 57,270 Total 973. 740 57,270 7,031,oto Page 49

AVONCROFT MUSEUM OF HISTORIC BUILDINGS (A company Ilmlted by guarant09 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 24. Analysis of net assets between funds (continued) 25. Roconclllatlon of net movemgnt in funds to net cash flow from operating activities Group 2022 Group 2021 Net incomelexpendilure for the year las per Slalement of Financial Aclivitses) 167,4661 34,603 Adjustments for: Depreciation charges Amortisalion charges Decreasellincreasel in stocks Decreasellincreasel in debtors Increaselldecreasel in credltors Tax charge on trading subsidiary 18,411 1,428 12.1991 1.249 6,571 3.729 20,270 3,840 159 (9,525) (5,4T1) Net cash provided byllusod in) operatlng adlvlties 138.2771 44,380 26. Analysls of cash and cash equivalents Group 2022 Group 2021 Cash in hand 249,648 332,460 Total cash and cash equlvalents 249,648 332,460 Page 50

AVONCROFT MUSEUM OF HISTORIC BUILDINGS IA cornpany limit￿ by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 27. Analysis of changes in not debt At1 January 2022 Cash flows At31 Dgcgmbor 2022 Cash at bank and in hand 332.460 {82.812) 249.648 332.460 (82,8121 249.648 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 not8 11 represents the contributions payable by the Charity to these funds. 29. Principal subsidiaries The following was a subsidiary undertaking of the Company= Name Cornpany numbgr Class of shares Holdlng Includod In con501idation Avoncroft Enterprises Limited 03303524 Ordinary The financial results of the subsidiary for the year were.. Name Income Expendlture ProfiUILossl I Surplusl {D8fi¢itl for the year Not liabilitie$ Avoncroft Enterprises Limited 193.152 (191,4321 1,707 490 Page 51