REGISTERED COMPANY NUMBER: 01171938 (England and Wales) REGISTERED CHARITY NUMBER: 268204
Report of the Trustees and Unaudited Financial Statements for the year ended 31[st] December 2020 for
The East Anglia Transport Museum Society Limited
Waveney Accountants Ltd t/a Newman & Co Chartered Accountants 7 Hungate Beccles Suffolk NR34 9TT
The East Anglia Transport Museum Society Limited
Contents of the Financial Statements for the year ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 4 |
| Detailed Statement of Financial Activities | 15 to 16 |
The East Anglia Transport Museum Society Limited Report of the Trustees for the year ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
The object of the charity is to establish and maintain for the benefit of the Nation an operating transport museum and for the like purpose to promote the permanent preservation of transport vehicles and equipment and items of general transport interest of actual or potential interest or scientific importance and educational value.
The trustees may carry out the objectives particularly by restoration e.g. Lowestoft tramcar No. 14 of 1904 and Leyland Olympian L263 which was the last product to come from the Lowestoft factory of Eastern Coachworks. Both of which will be on public exhibition or otherwise used for public benefit.
In planning the activities the trustees kept in mind the Charity Commission’s guidance at their meetings.
ACHIEVEMENT AND PERFORMANCE
During the winter months site works continue, concentrating on the railway extension onto the new land. Vehicle restoration works continue throughout the year along with general site maintenance. No events were held this year due to Covid restrictions.
FINANCIAL REVIEW
Financial position
The charity’s total incoming resources for the year were £209,769 compared to £356,979 in the previous year and total net income resources/expenditure before revaluation gains/losses were £64,924 (2019: £134,035). An increase of £71,186 in respect of unrestricted funds and net expenditure of £13,162 in respect of restricted funds.
The charity’s total funds as at 31 December 2020 were £1,672,175 (2019: £1,607,251), of which £1,559,173 (2019: £1,462,128.) relates to the charity’s tangible assets (buildings, vehicles and equipment).
Reserves policy
The trustees regularly review the charity’s level of reserves and consider the level of reserves at 31 December 2020 to be adequate. Reserves are held to ensure that the charity can meet the cost of any unforeseen expenditure and to provide financial stability in the event that income levels fall. Despite Covid, reserves were not used due to Government support.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its Memorandum and Articles of Association, and a Charity Commission Scheme dated 6[th] March 2004. The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006. It was incorporated on 29[th] May 1974.
Recruitment and appointment of new trustees
Trustees are appointed annually at the Annual General Meeting. Retiring trustees are eligible for re-election. Any vacancies arising between AGM’s may be filled by the committee. At the AGM following their appointment they will be eligible to stand for election as a trustee.
Organisational structure
The committee (board of trustees) shall consist of a Chairman, Deputy Chairman, Secretary, Treasurer and not less than seven and not more than eight ordinary committee members. The committee administers the charity. The treasurer maintains the financial records of the charity. Page 1
The East Anglia Transport Museum Society Limited
Report of the Trustees for the year ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Upon appointment an informal meeting with the new trustee is held to discuss the charity’s history and procedures and they are shown around the museum. Training for trustees is arranged as and when required.
Wider network
The charity works with other transport museums throughout the country. The London Trolleybus Presevation Society trolleybuses are on loan to the charity and are therefore based at the museum.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01171938 (England and Wales)
Registered Charity number
268204
Registered office
The East Anglia Transport Museum Chapel Road Carlton Colville Lowestoft Suffolk NR33 8BL
Trustees
Mr M P Bates Retired Mr K C Blacker Retired Mr M Carr Retired Mr B R Drage IT Trainee Mr S R Eteson Retired Mrs W A Houghton Admin. Mrs S A Jones Retired Mr R F Makewell Retired Mr M Watts Retired Mr G Woods Retired Mr. D. Jordan Management Mr. A. Bertram Retired
Company Secretary
Mr KC Blacker
Page 2
The East Anglia Transport Museum Society Limited
Report of the Trustees
for the year ended 31 December 2020
Approved by order of the board of trustees on………………………………………………… and signed on its behalf by:
…………………………………………… Mrs S A Jones – Trustee
Page 3
Independent Examiner’s Report to the Trustees of
The East Anglia Transport Museum Society Limited
Independent examiner’s report to the trustees of The East Anglia Transport Museum Society Limited (‘the Company’)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibility and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company 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 examination of your charity’s accounts as carried out under section 145 of the Charities act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
When your charity’s gross income exceeds £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of The Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. The accounts do not accord with those records; or
-
The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; 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 charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Leslie R Newman FCA Waveney Accountants Ltd t/a Newman & Co Chartered Accountants 7 Hungate Beccles Suffolk NR34 9TT
Date: ……………………………………….
Page 4
The East Anglia Transport Museum Society Limited
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the year ended 31 December 2020
| Year | |||||
|---|---|---|---|---|---|
| Year Ended | Ended | ||||
| 31.12.20 | 31.12.19 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 146,121 | 9,953 | 156,074 | 142,724 |
| Other Trading Activities | 3 | 53,306 | - | 53,306 | 214,024 |
| Other income | 389 | - | 389 | 231 | |
| _ | ______ | _ | _ | ||
| Total | 199,816 | 9,953 | 209,769 | 356,979 | |
| EXPENDITURE ON | |||||
| Raising funds | |||||
| Raising donations and legacies | 2,427 | - | 2,427 | 12,709 | |
| Other trading activities | 4 | 78,109 | 13,862 | 91,971 | 143,395 |
| _ | ______ | _ | _ | ||
| 80,536 | 13,862 | 94,398 | 156,104 | ||
| Other | 50,447 | - | 50,447 | 66,840 | |
| _ | _ | _ | _ | ||
| Total | 130,983 | 13,862 | 144,845 | 222,944 | |
| _ | _ | _ | _ | ||
| NET INCOME/(EXPENDITURE) | 68,833 | (3,909) | 64,924 | 134,035 | |
| RECONCILIATION OF FUNDS | |||||
| TOTAL FUNDS BROUGHT FORWARD | 1,377,439 | 229,812 | 1,607,251 | 1,473,216 | |
| __ | _ | __ | __ | ||
| TOTAL FUNDS CARRIED FORWARD | 1,446,272 | 225,903 | 1,672,175 | 1,607,251 | |
| ======= | ====== | ======= | ======= |
The notes form part of these financial statements
Page 5
The East Anglia Transport Museum Society Limited
Balance Sheet At 31 December 2020
| 31.12.20 | 30.9.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible assets | 8 | 7,340 | - | 7,340 | 7,340 |
| Tangible assets | 9 | 1,365,762 | 193,411 | 1,559,173 | 1,462,628 |
| __ | _ | __ | __ | ||
| 1,373,102 | 193,411 | 1,566,513 | 1,469,968 | ||
| CURRENT ASSETS | |||||
| Stocks | 10 | 12,623 | - | 12,623 | 12,670 |
| Debtors | 11 | 17,648 | - | 17,648 | 10,701 |
| Cash at bank | 47,325 | 32,492 | 79,817 | 121,019 | |
| Cash in hand | 2,259 | - | 2,259 | 2,000 | |
| _ | _ | _ | _ | ||
| 79,855 | 32,492 | 112,347 | 146,390 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 12 | (6,685) | - | (6,685) | (9,107) |
| _ | ______ | ______ | _ | ||
| NET CURRENT ASSETS | 73,170 | 32,492 | 105,662 | 137,283 | |
| _ | ______ | ______ | _ | ||
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 1,446,272 | 225,903 | 1,672,175 | 1,607,251 | |
| __ | _ | __ | __ | ||
| NET ASSETS | 1,446,272 | 225,903 | 1,672,175 | 1,607,251 | |
| ======= | ====== | ======= | ======= |
The notes form part of these financial statements Page 6
Continued…
The East Anglia Transport Museum Society Limited
Balance Sheet – continued At 31 December 2020
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) Ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) Preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on ……………………………………… and were signed on its behalf by:
………………………………………… Mrs S A Jones – Trustee
The notes form part of these financial statements
Page 7
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements
for the year ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probably that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probably that a transfer of economic benefits will be required in settlement and the amount of obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Intangible assets
The charity owns the copyright to a unique collection of photographs, for which there is no evidence of an active market. The copyright is included at cost.
Tangible fixed assets
-
Fixtures, fittings and furniture Depreciation is provided at 25% on cost.
-
Vehicles
The charity’s main aim is the preservation of its vehicles and to this end maintenance is continually carried out to keep them at a high standard of preservation. Depreciation is not considered appropriate as the vehicles are specialist, were mostly acquired at residual values and are not considered to have a measurable finite life. These assets are reviewed and revalued each year by the trustees.
-
Buildings These are included at valuation, which is updated on a five yearly basis. In between valuations being carried out additions to buildings are included at cost.
-
Freehold land
Freehold land is not depreciated as it is considered to have an indefinitely long useful life
- Equipment Depreciation is provided at 15% on cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 8
The East Anglian Transport Museum Society Limited
Notes to the Financial Statements – continued for the year ended 31 December 2020
1. ACCOUNTING POLICIES – continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanations of the nature and purpose of each fund is included in the notes to the financial statements.
Operating leases
Rentals payable under operating leases for the financial year are charged to the statement of financial activity.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | |||
|---|---|---|---|
| Year Ended | Year Ended | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Donations | 46,527 | 111,998 | |
| Gift Aid | 9,216 | 19,011 | |
| Subscriptions | 7,490 | 11,715 | |
| Grants | 92,841 | - | |
| _ | _ | ||
| 156,074 | 142,724 | ||
| ====== | ====== | ||
| Grants are made up as follows: | |||
| East Suffolk Council | 27,700 | ||
| National Heritage | 17,000 | ||
| Arts Council | 45,000 | ||
| Local Council | 3,141 | ||
| ______ | |||
| 92,841 | |||
| ===== |
3. OTHER TRADING ACTIVITIES - INCOME
| Year Ended | Year Ended | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Fundraising events | 2,782 | 16,502 |
| Shop income | 10,680 | 31,060 |
| Admission charges | 30,276 | 118,921 |
| Café | 9,568 | 47,541 |
| _ | _ | |
| 53,306 | 214,024 | |
| ====== | ====== |
Page 9
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements – continued for the year ended 31 December 2020
4. OTHER TRADING ACTIVITIES – EXPENDITURE
| Year Ended | Year Ended | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Opening Stock | 12,670 | 13,081 |
| Purchases | 12,792 | 43,120 |
| Closing Stock | (12,623) | (12,670) |
| Support costs | 79,132 | 99,864 |
| _ | _ | |
| 91,971 | 143,395 | |
| ====== | ====== |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Year Ended | Year Ended | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Depreciation – owned assets | 16,005 | 15,556 |
| ===== | ===== |
6. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Page 10
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements – continued for year ended 31 December 2020
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 114,855 | 27,869 | 142,724 | |
| Other trading activities | 214,024 | - | 214,024 | |
| Other income | 231 | - | 231 | |
| _ | _ | _ | ||
| Total | 329,110 | 27,869 | 356,979 | |
| EXPENDITURE ON | ||||
| Raising funds | 142,205 | 13,899 | 156,104 | |
| Other | 66,840 | - | 66,840 | |
| _ | _ | _ | ||
| Total | 209,045 | 13,899 | 222,944 | |
| _ | _ | _ | ||
| NET INCOME | 1,257,734 | 13,970 | 134,035 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 1,257,734 | 215,842 | 1,473,216 | |
| __ | _ | __ | ||
| TOTAL FUNDS CARRIED FORWARD | 1,377,799 | 229,812 | 1,607,251 | |
| ======= | ====== | ======= | ||
| 8. | INTANGIBLE FIXED ASSETS | |||
| Patents and | ||||
| Licences | ||||
| £ | ||||
| COST | ||||
| At 1 January 2020 | 7,340 | |||
| Additions | - | |||
| _____ | ||||
| 31 December 2020 | 7,340 | |||
| _____ | ||||
| NET BOOK VALUE | ||||
| At 31 December 2020 | 7,340 | |||
| ==== | ||||
| At 31 December 2019 | 7,340 | |||
| ==== |
Page 11
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements – continued for the year ended 31 December 2020
9. TANGIBLE FIXED ASSETS
| Freehold | Plant and | Fixtures & | Motor | ||
|---|---|---|---|---|---|
| Property | machinery | fittings | vehicles | Totals | |
| £ | £ | £ | £ | £ | |
| COST, | |||||
| At 1 January 2020 | 1,203,116 | 108,269 | 80,331 | 223,831 | 1,615,547 |
| Additions | 94,488 | 15,300 | 2,762 | - | 112,550 |
| __ | _ | ______ | _ | __ | |
| At 31 December 2020 | 1,297,604 | 123,569 | 83,093 | 223,831 | 1,728,097 |
| __ | _ | ______ | _ | __ | |
| DEPRECIATION | |||||
| At 1 January 2019 | - | 96,367 | 56,552 | - | 152,919 |
| Charge for year | - | 7,123 | 8,882 | - | 16,005 |
| _ | _ | _ | _ | _ | |
| At 31 December 2020 | - | 103,490 | 65,434 | - | 168,924 |
| _ | _ | _ | _ | _ | |
| NET BOOK VALUE | |||||
| At 31 December 2020 | 1,297,604 | 20,079 | 17,659 | 223,831 | 1,559,173 |
| ======= | ====== | ===== | ====== | ======= | |
| At 31 December 2019 | 1,203,116 | 11,902 | 23,779 | 223,831 | 1,462,628 |
| ======= | ====== | ===== | ====== | ======= |
The land and buildings were valued by Mr D A Chapman MRICS of O A Chapman & Sons Limited in January 2015. The valuation was prepared on an open market value basis and this is in accordance with generally accepted accounting practise.
The charity’s vehicles and equipment were valued by the committee during the 2017 season.
10. STOCKS
| **10. ** | STOCKS | ||
|---|---|---|---|
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Stocks | 12,623 | 12,670 | |
| ===== | ===== | ||
| **11. ** | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Other debtors | - | 861 | |
| Prepayments | 17,648 | 9,840 | |
| _____ | _____ | ||
| 17,648 | 10,701 | ||
| ==== | ==== | ||
| **12. ** | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Trade creditors | 3,360 | 6,174 | |
| Other creditors | 3,325 | 2,933 | |
| _____ | _____ | ||
| 6,685 | 9,107 | ||
| ==== | ==== |
Page 12
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements – continued for the year ended 31 December 2020
13. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Within one year | 6,900 | 6,900 |
| Between one and five years | 27,600 | 27,600 |
| In more than five years | 18,975 | 25,875 |
| _ | _ | |
| 53,475 | 60,375 | |
| ====== | ====== |
The charity leased a storage unit at Ellough, Beccles for twenty five years from 3[rd] November 2003. The lease is subject to rent review with effect from every third anniversary of the start of the lease period. The rent paid during the 2020 year was £8,775 (2019: £7,725).
14. MOVEMENT IN FUNDS
| Net movement | |||
|---|---|---|---|
| At 31.12.19 | in funds | At 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General funds | 1,377,439 | 68,833 | 1,446,272 |
| Restricted funds | |||
| Restricted funds | 229,812 | (3,909) | 225,903 |
| __ | _ | __ | |
| TOTAL FUNDS | 1,607,251 | 64,924 | 1,672,175 |
| ======= | ====== | ======= |
Net movements in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 199,816 | 130,983 | 68,833 |
| Restricted funds | |||
| Restricted fund | 9,953 | 13,862 | (3,909) |
| __ | _ | _ | |
| TOTAL FUNDS | 209,769 | 144,845 | 64,924 |
| ======= | ====== | ====== |
Page 13
The East Anglia Transport Museum Society Limited
Notes to the Financial Statements – continued for the year ended 31 December 2020
MOVEMENT IN FUNDS – continued
Comparatives for movement in funds
| Net movement | |||
|---|---|---|---|
| At 01.01.19 | in funds | At 31.12.19 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 1,257,374 | 120,065 | 1,377,439 |
| Restricted Funds | |||
| Restricted fund | 215,842 | 13,970 | 229,812 |
| __ | ______ | __ | |
| TOTAL FUNDS | 1,473,216 | 134,035 | 1,607,251 |
| ======= | ====== | ======= | |
| Comparative net movement in funds, included in the above are as | follows: | ||
| Incoming | Resources | Movement | |
| Resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 329,110 | 209,045 | 120,065 |
| Restricted funds | 27,869 | 13,899 | 13,970 |
| _ | _ | ______ | |
| 356,979 | 222,944 | 134,035 | |
| ====== | ====== | ===== |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
16. ULTIMATE CONTROLLING PARTY
The East Anglia Transport Museum Society Limited is a company registered under the Companies Act, where the liability of members is limited by guarantee.
The charity is therefore jointly controlled by its members.
Page 14 The East Anglia Transport Museum Society Limited
Detailed Statement of Financial Activities for the year ended 31 December 2020
| Year | Year | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Ended | Ended | |
| Fund | Fund | 31.12.20 | 31.12.19 | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 36,574 | 9,953 | 46,527 | 111,998 |
| Gift Aid | 9,216 | - | 9,216 | 19,011 |
| Subscriptions | 7,490 | - | 7,490 | 11,715 |
| Grants | 92,841 | - | 92,841 | - |
| _ | _ | _ | _ | |
| 146,121 | 9,953 | 156,074 | 142,724 | |
| Other trading activities | ||||
| Fundraising events | 2,782 | - | 2,782 | 16,502 |
| Shop Income | 10,680 | - | 10,680 | 31,060 |
| Admission charges | 30,276 | - | 30,276 | 118,921 |
| Cafe | 9,568 | - | 9,568 | 47,541 |
| _ | _ | _ | _ | |
| 53,306 | - | 53,306 | 214,024 | |
| Other income | ||||
| Sundry income | 389 | - | 389 | 231 |
| _ | _ | _ | _ | |
| Total incoming resources | 199,816 | 9,953 | 209,769 | 356,979 |
| EXPENDITURE | ||||
| Raising donations and legacies | ||||
| Event costs | 2,427 | - | 2,427 | 12,709 |
| Other trading activities | ||||
| Opening stock | 12,670 | - | 12,670 | 13,081 |
| Shop | 3,854 | - | 3,854 | 11,733 |
| Café | 8,938 | - | 8,938 | 31,387 |
| Closing Stock | (12,623) | - | (12,623) | (12,670) |
| _ | _ | ______ | ______ | |
| 12,839 | - | 12,839 | 43,531 | |
| Other | ||||
| Vehicle operations | 14,357 | - | 14,357 | 6,492 |
| Property repairs | 19,170 | - | 19,170 | 41,909 |
| Repairs & renewals | - | - | - | 1,622 |
| Hire of plant & machinery | 915 | - | 915 | 1,261 |
| Plant and machinery | 7,123 | - | 7,123 | 6,836 |
| Fixtures and fittings | 8,882 | - | 8,882 | 8,720 |
| _ | _ | _ | _ | |
| 50,447 | - | 50,447 | 66,840 |
This page does not form part of the statutory financial statements
Page 15
The East Anglia Transport Museum Society Limited
Detailed Statement of Financial Activities for the year ended 31 December 2020
| Unrestricted | Restricted | Year Ended | Year Ended | |
|---|---|---|---|---|
| Fund | Fund | 31.12.20 | 31.12.19 | |
| £ | £ | £ | £ | |
| SUPPORT COSTS | ||||
| Management | ||||
| Rates and water | 2,109 | - | 2,109 | 5,160 |
| Insurance | 9,841 | - | 9,841 | 10,067 |
| Light and heat | 10,384 | - | 10,384 | 3,543 |
| Telephone | 3,315 | - | 3,315 | 6,982 |
| Postage and stationery | 843 | - | 843 | 993 |
| Advertising | 7,129 | - | 7,129 | 18,364 |
| Sundries | 316 | - | 316 | - |
| Restoration | 11,169 | 13,862 | 25,031 | 36,736 |
| Newsletter | 3,666 | - | 3,666 | 4,484 |
| Rent of storage unit | 8,775 | - | 8,775 | 7,725 |
| Health & safety | 359 | - | 359 | 353 |
| Computer Costs | 1,644 | - | 1,644 | - |
| _ | _ | _ | _ | |
| 59,550 | 13,862 | 73,412 | 94,407 | |
| Finance | ||||
| Bank charges | 1,261 | - | 1,261 | 1,917 |
| Governance costs | ||||
| Accountancy and legal fees | 4,459 | - | 4,459 | 3,540 |
| _ | _ | _ | _ | |
| Total resources expenditure | 130,983 | 13,862 | 144,845 | 222,944 |
| Net Income/(Expenditure) | 68,833 | (3,909) | 64,924 | 134,035 |
| ====== | ====== | ====== | ====== |
This page does not form part of the statutory financial statements
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