Pitstone and Ivinghoe Museum Society
Trustees Annual Report for the year ended 31 March 2023
The 2022 – 2023 open day season had been very successful with takings for the year the highest to date, all other income was similar to previous years. The only exceptional item of expenditure, which contributed to a small reduction in the annual surplus, was the repair of one of the main trusses in the barn roof. All other costs were as planned or expected.
As a result the financial surplus for the year was £12151, which was a slight reduction on the previous year, but our overall reserves remain healthy at £140,048.
An increase in the number of volunteers has meant that many projects throughout the Museum are progressing well, including:
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the restoration of the Austin 7
-
the opening of the grain drying silo into a working exhibit
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the development of the Sound Studio
-
the ongoing renewal of the electrical wiring
Further projects are planned for 2023 – 2024, including:
-
the refurbishment of the Concrete Workshop
-
grain milling equipment
-
the refurbishment of the Brush Shop
PITSTONE & IVINGHOE MUSEUM SOCIETY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2023
Registered Charity number 273931
page 1
Independent Examiner’s Report to the Trustees of
PITSTONE & IVINGHOE MUSEUM SOCIETY
I report on the accounts of the Society for the year ended 31st March 2023 which are set out on the following pages
As the charity’s trustees you are responsible for the preparation of the accounts;
you consider that the audit requirements of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charities Commissioners under section 43(7)(b) of the Act, whether particular matters have come to my attention. My examination was carried out in accordance with the General Directions given by Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
In my connection with my examination, no matter has come to my attention;
1) Which gives me reasonable cause to believe that in any material respect the requirements ;
a) To keep accounting records in accordance with section 41 of the Act and
b) To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
Have not been met, or
2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed P. Griffiths
Date 7the August 2023
Mrs. P. Griffiths Hemel Hempstead
Pitstone & Ivinghoe Museum Society
page 2
Income and Expenditure Account for the period ending 31.03.23
| Income Open days Admission charges Sale of guides less:costs Sales from Shop less: costs Tractor Rides income Craft stalls income Potters less: costs Catering sales less: costs Open day costs -sundry -bank charges -toilet hire Subscriptions Monthly meetings less: costs School & Club visits Other sales Room hire & filming Donations Covid 19 Grants Profit on sale of plant Gift Aid Interest received Expenditure Projects Garage & A7 Renew electrics New fire escape Railways New reception Pantograph Artifacts incl sandblasting Maintenance & repairs Plant & equip (incl Tractors) Buildings Repair barn roof Site (incl drive) Office equipment Depreciation of Plant etc. Admin Costs Rent & rates Utilities (net) Phone & Internet Insurance Adverts, leaflets & Web Stationery, stamps Newsletter costs Office exps Volunteer costs Surplus/(deficit) for the year |
378 -350 |
Actual to 31.03.23 |
Actual to 31.03.22 |
|---|---|---|---|
| 11247 189 1141 0 522 786 510 4793 -1645 -1693 |
|||
| 1460 0 |
|||
| 660 -567 |
|||
| 9518 -3405 |
|||
| -738 -402 -990 |
|||
| 137 -114 |
|||
| 27119 907 23 120 210 50 584 0 499 200 386 |
15850 1170 0 65 220 40 1587 8000 0 148 |
||
| 870 386 3840 504 77 |
|||
| 30098 | 27080 | ||
| 0 676 0 188 0 369 552 |
2065 654 549 34 566 0 174 |
||
| 1785 5677 1332 9153 |
4042 414 94 0 887 93 703 982 1064 680 2623 210 34 793 584 333 |
||
| 1302 1687 807 3040 510 236 701 665 205 |
|||
| 17947 | 13536 | ||
| 12151 | 13544 |
Surplus/(deficit) for the year
Pitstone & Ivinghoe Museum Society
page 3
Balance Sheet as at 31.03.22
| lance Sheet as at 31.03.22 | ||||
|---|---|---|---|---|
| Fixed Assets Buildings at cost Plant & Equipment 15998 less: depreciation -8960 Office equipment 8890 less: depreciation -6994 (note 1) Current Assets National Savings Bond Santander Bond 34399 Current A/c 62724 Deposit A/c 3383 Cash balances Debtors, Prepaid & Stock (note 3) Total Assets less :Creditors & Accrued expenses (note 3) Capital Reserves b/fwd. Surplus/(deficit) for yr. |
15998 -8960 |
Actual 31.03.23 |
Actual 31.03.22 |
|
| 12033 7038 1896 20967 20500 100506 600 965 143538 3490 140048 127897 12151 140048 |
12033 12955 -12079 7720 -6540 |
|||
| 8890 -6994 |
||||
| 34399 62724 3383 |
||||
| 14089 20500 34288 56026 3376 594 1082 |
||||
| 129955 2058 |
||||
| 127897 | ||||
| 114353 13544 |
||||
| 127897 |
Approved by the Executive Committee on 11th July 2023
| R.Henry | Chairman |
|---|---|
| J. Youngs | Treasurer |
Pitstone & Ivinghoe Museum Society
page 4
Notes to the Accounts for the year ending 31st March 2023
| Note 1. Note 2. Note 3. |
Fixed Assets At Museum managers valuation At cost at beginning of year Additions in year Sales in year Less: depreciation at beginning of year provided in year sold during year at end of year Net book value at start of year Net book value at end of year Additions to Fixed Assets Gala tent & Bosch saw Honda mower Brother printers Fridge & Tables Gauge1 Locomotive Debtors, Prepaid & Stock Creditors & Accrued |
25% 33% 33% Buildings Plant & Grass Furniture Tools mower & equip. 0 760 0 800 12033 4802 7393 6920 1044 5999 1170 -4000 12033 6606 9392 8890 0 4690 7390 6540 0 219 660 454 -3999 0 4909 4051 6994 12033 873 3 465 12033 1697 5341 1896 1044 5999 270 400 500 |
25% 33% 33% Buildings Plant & Grass Furniture Tools mower & equip. 0 760 0 800 12033 4802 7393 6920 1044 5999 1170 -4000 12033 6606 9392 8890 0 4690 7390 6540 0 219 660 454 -3999 0 4909 4051 6994 12033 873 3 465 12033 1697 5341 1896 1044 5999 270 400 500 |
|
|---|---|---|---|---|
| Total | ||||
| 1560 31148 8213 -4000 |
||||
| 36921 | ||||
| 18620 1333 -3999 |
||||
| 15954 | ||||
| 13374 | ||||
| 20967 | ||||
| 1044 5999 270 400 500 |
||||
| 0 1044 5999 1170 0 |
8213 | |||
| Debtors, Prepaid Clothing Stock Rent Craft income prepaid Utilities |
671 294 1459 1190 841 |
965 | ||
| 3490 |