## **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: 

- the restoration of the Austin 7 

- the opening of the grain drying silo into a working exhibit 

- 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**<br>Open days<br>Admission charges<br>Sale of guides<br>less:costs<br>Sales from Shop<br>less: costs<br>Tractor Rides income<br>Craft stalls income<br>Potters<br>less: costs<br>Catering sales<br>less: costs<br>Open day costs -sundry<br>-bank charges<br>-toilet hire<br>Subscriptions<br>Monthly meetings<br>less: costs<br>School & Club visits<br>Other sales<br>Room hire & filming<br>Donations<br>Covid 19 Grants<br>Profit on sale of plant<br>Gift Aid<br>Interest received<br>**Expenditure**<br>Projects<br>Garage & A7<br>Renew electrics<br>New fire escape<br>Railways<br>New reception<br>Pantograph<br>Artifacts incl sandblasting<br>Maintenance & repairs<br>Plant & equip (incl Tractors)<br>Buildings<br>Repair barn roof<br>Site (incl drive)<br>Office equipment<br>Depreciation of Plant etc.<br>Admin Costs<br>Rent & rates<br>Utilities (net)<br>Phone & Internet<br>Insurance<br>Adverts, leaflets & Web<br>Stationery, stamps<br>Newsletter costs<br>Office exps<br>Volunteer costs<br>**Surplus/(deficit) for the year**|378<br>-350|**Actual**<br>**to 31.03.23**|**Actual**<br>**to 31.03.22**|
|---|---|---|---|
||||11247<br>189<br>1141<br>0<br>522<br>786<br>510<br>4793<br>-1645<br>-1693|
||1460<br>0|||
||660<br>-567|||
||9518<br>-3405|||
||-738<br>-402<br>-990|||
||137<br>-114|||
|||27119<br>907<br><br><br>23<br>120<br>210<br>50<br>584<br>0<br>499<br>200<br>386|15850<br>1170<br>0<br>65<br>220<br>40<br>1587<br>8000<br>0<br>148|
||870<br>386<br>3840<br>504<br>77|||
|||30098|27080|
|||0<br>676<br>0<br>188<br>0<br>369<br>552|2065<br>654<br>549<br>34<br>566<br>0<br>174|
|||1785<br><br><br><br><br><br>5677<br>1332<br><br><br><br><br><br><br><br><br><br>9153|4042<br>414<br>94<br>0<br>887<br>93<br>703<br>982<br>1064<br>680<br>2623<br>210<br>34<br>793<br>584<br>333|
||1302<br>1687<br>807<br>3040<br>510<br>236<br>701<br>665<br>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**<br>Buildings at cost<br>Plant & Equipment<br>15998<br>less: depreciation<br>-8960<br>Office equipment<br>8890<br>less: depreciation<br>-6994<br>(note 1)<br>**Current Assets**<br>National Savings Bond<br>Santander<br>Bond<br>34399<br>Current A/c<br>62724<br>Deposit A/c<br>3383<br>Cash balances<br>Debtors, Prepaid & Stock  (note 3)<br>**Total Assets**<br>less<br>:Creditors & Accrued expenses  (note 3)<br>**Capital**<br>Reserves b/fwd.<br>Surplus/(deficit) for yr.|15998<br>-8960|**Actual**<br>**31.03.23**||**Actual**<br>**31.03.22**|
|||12033<br>7038<br>1896<br>20967<br>20500<br>100506<br>600<br>965<br>143538<br>3490<br>**140048**<br>127897<br>12151<br>**140048**||12033<br>12955<br>-12079<br>7720<br>-6540|
||8890<br>-6994||||
||34399<br>62724<br>3383||||
|||||14089<br>20500<br>34288<br>56026<br>3376<br>594<br>1082|
|||||129955<br>2058|
|||||**127897**|
|||||114353<br>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.**<br>**Note 2.**<br>**Note 3.**|**Fixed Assets**<br>At Museum managers valuation<br>At cost at beginning of year<br>Additions in year<br>Sales in year<br>Less: depreciation<br>at beginning of year<br>provided in year<br>sold during year<br>at end of year<br>Net book value at start of year<br>Net book value at end of year<br>**Additions to Fixed Assets**<br>Gala tent & Bosch saw<br>Honda mower<br>Brother printers<br>Fridge & Tables<br>Gauge1 Locomotive<br>**Debtors, Prepaid & Stock**<br>**Creditors & Accrued**|25%<br>33%<br>33%<br>**Buildings**<br>**Plant &**<br>**Grass**<br>**Furniture**<br>**Tools**<br>**mower**<br>**& equip.**<br>0<br>760<br>0<br>800<br>12033<br>4802<br>7393<br>6920<br>1044<br>5999<br>1170<br>-4000<br>12033<br>6606<br>9392<br>8890<br>0<br>4690<br>7390<br>6540<br>0<br>219<br>660<br>454<br>-3999<br>0<br>4909<br>4051<br>6994<br>12033<br>873<br>3<br>465<br>12033<br>1697<br>5341<br>1896<br>1044<br>5999<br>270<br>400<br>500|25%<br>33%<br>33%<br>**Buildings**<br>**Plant &**<br>**Grass**<br>**Furniture**<br>**Tools**<br>**mower**<br>**& equip.**<br>0<br>760<br>0<br>800<br>12033<br>4802<br>7393<br>6920<br>1044<br>5999<br>1170<br>-4000<br>12033<br>6606<br>9392<br>8890<br>0<br>4690<br>7390<br>6540<br>0<br>219<br>660<br>454<br>-3999<br>0<br>4909<br>4051<br>6994<br>12033<br>873<br>3<br>465<br>12033<br>1697<br>5341<br>1896<br>1044<br>5999<br>270<br>400<br>500||
|---|---|---|---|---|
|||||**Total**|
|||||1560<br>31148<br>8213<br>-4000|
|||||36921|
|||||18620<br>1333<br>-3999|
|||||15954|
|||||13374|
|||||20967|
|||||1044<br>5999<br>270<br>400<br>500|
|||0<br>1044<br>5999<br>1170 0||8213|
|||Debtors, Prepaid<br>Clothing Stock<br>Rent<br>Craft income prepaid<br>Utilities|671<br>294<br>1459<br>1190<br>841|965|
|||||3490|