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|||Page|
|---|---|---|
|Trustees'
Report|||
|Strategic Report||4|
|Achievements
and performance||4|
|Financial
review||8|
|Plans for future
periods||9|
|Principal
risks and uncertainties||10|
|Structure,
governance
and management||11|
|Reference and administrative|details|12|
|Statement of Directors'
Responsibilities||14|
|Auditors'
Report to the Trustees||15|
|Consolidated
Statement of Financial Activities||18|
|Company
Statement of Financial|Activities|19|
|Consolidated
Balance Sheet||20|
|Company
Balance Sheet||21|
|Consolidated
Cashf low Statement||22|
|Notes to the Financial Statements||23|
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|Status|||Company
Limited|by Guarantee|by Guarantee||||
|---|---|---|---|---|---|---|---|---|
|Charity Number|||277503||||||
|Company|Registration|Number|1415654||||||
|President|||The Former Prince|ofWales KG KT GCB||OM|AK QSO|CC PC ADC|
|Vice Presidents|||Lord-Lieutenant
ofthe County of Hampshire||||(ex-officio)||
||||The Right Worshipful,
The Lord Mayor of Portsmouth|||||(ex officio)|
||||Admiral
Sir Kenneth
Eaton||KCB OBE (deceased July 2022)||||
||||Sir David Cooksey|GBE|||||
||||Lionel Allery||||||
||||Professor Sir Barry|Cunliffe|KBCBE FSA|FBA|||
||||Rear Admiral John|Lippiett|CBCBE||||
||||Alan Lovell DL||||||
|Trustee Directors|||Dr Robert Bewley||||||
||||Christopher
Brandon
RIBA FRSA FSA||||||
||||Professor Van Gore CBE||||||
||||Rupert Grey||||||
||||Vice Admiral
Peter|Hudson|CB CBE(retired||February|2023)|
||||Adam
Humphryes||||||
||||Dominic Jones||||||
||||Professor Suzannah|Lipscomb|||||
||||Dr Janet Owen (retired February 2023)||||||
||||Nigei Purse (Chair)||||||
||||Tim Rusby||||||
||||Terence Stevens (appointed||November|2022)|||
||||Sophia Weston||||||
|Members|||Cllr Tom Coles (PCC)||||||
||||Vice Admiral
Peter|Hudson|CB CBE||||
||||The Rt Hon Lord lliffe DL||||||
||||Paul Jackson||||||
||||Dr Christopher
Moran||||||
||||Dr Janet Owen||||||
||||Coral Samuel CBE(deceased January 2022)||||||
||||Daniel Thorne||||||
||||Cllr Gerald Vernon-Jackson||(PCC)||||
|Chief Executive|Chief Executive||Dominic Jones|||||
|---|---|---|---|---|---|---|---|
|Secretary|||Susan Wright|ACMA||||
|Registered|Office||1/10 College Road|||||
||||HM Naval Base|||||
||||Portsmouth|||||
||||Hampshire|||||
||||P013LX|||||
|Senior Statutory||Auditor|Kerry Lawrance||FCA|||
|Auditors|||Compass Accountants|||Limited||
||||The Tanneries|||||
||||East Street|||||
||||Titchfield|||||
||||Hampshire|||||
||||P0144AR|||||
|Bankers|||Lloyds Bank|||||
||||3Town Quay|||||
||||Southampton|||||
||||Hampshire|||||
||||50142AQ|||||
|Insurance|Brokers||Noyce Insurance||Solutions||Ltd|
||||Bassett House|||||
||||36 Leigh Road|||||
||||Eastleigh|||||
||||Hampshire|||||
||||5050 3DT|||||
|Solicitors|||Blake Morgan|||||
||||New Kings Court|||||
||||Tollgate|||||
||||Chandlers
Ford|||||
||||Eastieigh|||||
||||Hampshire|||||
||||5053 3LG|||||
##
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|For the year ended 31M|arc|h 2023||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|2023|Unrestricted|Restricted|2022|
|||||funds|funds|Total|funds|funds|Total|
||||Notes|E|E|E|E|E|E|
|Income and endowments|from:|||||||||
|Donations
and legacies|||2|312,731|171,130|483,861|1,313,707|168,988|1,482,695|
|Other income from charitable||activities||||||||
|Visitor admissions||||1,898,043||1,898,043|1,778,704||1,778,704|
|Other income from charitable||activities||24,377||24,377|10,407||10,407|
|Other trading activities||||||||||
|Income ofthe trading subsidiaries|||5|424,012||424,012|301,805||301,805|
|Investments|||6|2,088||2,088|66||66|
|Other incoming resources|||7|27,043||27,043|14,383||14,383|
|Museum
&Galleries
Exhibition||Tax relief||80,000||80,000||||
|Total income and endowments||||2,768,294|171,130|2,939,424|3,419,072|168,988|3,588,060|
|Expenditure
on:||||||||||
|Raising funds||||||||||
|Fundraising||||116,582||116,582|124,615||124,615|
|Commercial
trading operations|||5|239,290||239,290|180,914||180,914|
|Charitable
activities|||8|2,641,814|1,234,135|3,875,949|2,648,597|1,151,445|3,800,042|
|Total expenditure||||2,997,686|1,234,135|4,231,821|2,954,126|1,151,445|4,105,571|
|Net incoming/(outgoing)|resources|||||||||
|before transfers||||(229,392)|(1,063,005)|(1,292,397)|464,946|(982,457)|(517,511)|
|Transfer between
funds||||20,160|(20,160)||285|(285)||
|Net income/(expenditure)||||(209,232)|(1,083,165)|(1,292,397)|465,231|(982,742)|(517,511)|
|Reconciliation
offunds:||||||||||
|Total funds brought
forward||||4,282,776|23,999,670|28,282,446|3,817,545|24,982,412|28,799,957|
|Total funds carried forward||||4,073,544|22,916,505|26,990,049|4,282,776|23,999,670|28,282,446|
##
##
||||Unrestricted|Unrestricted|Restricted|2023|Unrestricted|Restricted|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds|Total|funds|funds|Total|
||||Notes|E|E|E|E|E|E|
|Income and endowments|from:|||||||||
|Donations
and legacies|||2|312,731|171,130|483,861|1,313,707|168,988|1,482,695|
|Other income from charitable||activities||||||||
|Visitor admissions|||3|1,898,043||1,898,043|1,778,704||1,778,704|
|Other income from charitable||activities|4|24,377||24,377|10,407||10,407|
|Other trading activities||||||||||
|income from trading
subsidiaries|||5|176,922||176,922|113,091||113,091|
|investments|||6|2,088||2,088|66||66|
|Other incoming resources|||7|34,843||34,843|22,183||22,183|
|Museum
&Galleries Exhibition||Tax relief||80,000||80,000||||
|Total income and endowments||||2,529,004|171,130|2,700,134|3,238,158|168,988|3,407,146|
|Expenditure
on:||||||||||
|Raising funds||||||||||
|Fundraisfng||||116,582||116,582|124,615||124,615|
|Charitable
activities|||8|2,641,814|1,234,135|3,875,949|2,648,597|1,151,445|3,800,042|
|Total resources expended||||2,758,396|1,234,135|3,992,531|2,773,212|1,151,445|3,924,657|
|Net incoming/(outgoing)|resources|||||||||
|before transfers||||(229,392)|(1,063,005)|(1,292,397)|464,946|(982,457)|(517,511)|
|Transfer between
funds||||20,160|(20,160)||285|(285)||
|Net Income/(expenditure)||||(209,232)|(1,083,165)|(1,292,397)|465,231|(982,742)|(517,511)|
|Reconciliation
offunds:||||||||||
|Total funds brought
forward||||4,276,736|23,999,670|28,276,406|3,811,505|24,982,412|28,793,917|
|Total funds carried forward||||4,067,504|22,916,505|26,984,009|4,276,736|23,999,670|28,276,406|
##
||||||2023||2022|
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Fixed assets||||||||
|Tangible assets|||16||26,402,201||27,186,193|
|Current assets||||||||
|Stocks|||17|33,995||28,580||
|Debtors|||18|246,154||301,913||
|Cash at bank and in hand|||28|828,536||1,348,360||
|||||1,108,685||1,678,853||
|Creditors: amounts||falling||||||
|due within one year|||19|(520,837)||(582,600)||
|Net current assets/(liabilities)|||||587,848||1,096,253|
|Total assets less|current|||||||
|liabilities|||||26,990,049||28,282,446|
|Net assets|||||26,990,049||28,282,446|
|Funds||||||||
|Restricted funds|||23||22,916,505||23,999,670|
|Unrestricted
funds|||||3,867,504||4,076,736|
|Designated
funds|||22||200,000||200,000|
|Charitable
subsidiary||funds|||6,040||6,040|
|Total unrestricted|funds||||4,073,544||4,282,776|
|Total funds|||21||26,990,049||28,282,446|
##
##
##
|Company
n|umbe|r:|1415654||||||
|---|---|---|---|---|---|---|---|---|
|||||||2023||2022|
|||||Notes|||||
|Fixed assets|||||||||
|Tangible assets||||16||26,402,201||27,186,193|
|Investments||||||3||3|
|||||||26,402,204||27,186,196|
|Current assets|||||||||
|Debtors||||18|411,977||412,801||
|Cash at bank|and|in hand|||656,895||1,227,607||
||||||1,068,872||1,640,408||
|Creditors: amounts|||falling||||||
|due within one year||||19|(487,067)||(550,198)||
|Net current|assets/(liabilities)|||||581,805||1,090,210|
|Total assets|less|current|||||||
|liabilities||||||26,984,009||28,276,406|
|Net assets||||||26,984,009||28,276,406|
|Funds|||||||||
|Restricted funds||||23||22,916,505||23,999,670|
|Unrestricted|funds|||||3,867,504||4,076,736|
|Designated
funds||||22||200,000||200,000|
|Total unrestricted||funds||||4,067,504||4,276,736|
|Total funds||||||26,984,009||28,276,406|
##
|Consolidated
cash flow statement|Consolidated
cash flow statement|Consolidated
cash flow statement|||||||
|---|---|---|---|---|---|---|---|---|
|for the year ended 31March 2023|||||||||
||||||||2023|2022|
|||||||Notes|6||
|Cash flows from operating||activities:|||||||
|Net cash (used in)/provided||by operating||activities|||(231,236)|221,382|
|Cash flows from investing|activities:||||||||
|Interest income||||||27|2,088|66|
|Purchase of fixed assets||||||27|(290,676)|(54,693)|
|Net cash (used in)/provided||by investing||activities|||(288,588)|(54,627)|
|(Decrease)/increase
in cash and cash equivalents|||||in the year||(519,824)|166,755|
|Cash and cash equivalents||at 1April 2022|||||1,348,360|1,181,605|
|Cash and cash equivalents||at 31March|2023|||28|828,536|1,348,360|
|Net (expenditure)/income
for||the reporting|period||||(1,292,397)|(517,511)|
|Depreciation
and impairment|||||||1,074,668|1,078,513|
|Interest income|||||||(2,088)|(66)|
|Loss on disposal offixed assets||||||||1,638|
|(Increase)/Decrease
in stocks|||||||(5,415)|20,232|
|Decrease/(increase)
in debtors|||||||55,759|(151,520)|
|(Decrease)/Increase
in creditors|||||||(61,763)|(209,904)|
|Net cash provided
by (used||in) operating||activities|||(231,236)|221,382|
##
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##
|The expected|useful lives|or agreed period|s ofwrite offare;||
|---|---|---|---|---|
|euildings||New museum||71years|
|||New museum|roof|40years|
|||New museum|cladding|30years|
|||Other building|refurbishment|5 —10years|
|Computers||||5years|
|Plant and equipment||New museum|plant and equipment|10-25 years|
|||Other plant and equipment||5-10years|
|||Donated gifts||2 - 5years|
|Exhibition||Exhibition
display||30years|
|||Exhibition fixtures and fittings||10years|
|||Exhibition
ICT|and AV|5 —10years|
|Motor vehicles||||5 years|
|Conservation|equipment|||5 - 10years|
##
|Such
is|their|their|significance,
all collections
have
Designated
status:
recognising
the
importance|significance,
all collections
have
Designated
status:
recognising
the
importance|significance,
all collections
have
Designated
status:
recognising
the
importance|significance,
all collections
have
Designated
status:
recognising
the
importance|of the|of the|whole|whole|
|---|---|---|---|---|---|---|---|---|---|---|
|assemblage.|||||||||||
|The ship|||||||||||
|The Mary||Rose herself||||is the only recovered
16th-century
warship
in existence and is ofinternational|significance|||in|
|maritime||archaeology||||and beyond. Weighing some 300tons and standing
as high as a four-story
building,||the|hull|is|
|revolutionary|||in design|||and provides
vital evidence of shipbuilding
techniques
for a period when ship-plans|||do not||
|survive.|||||||||||
|The artefacts|||||||||||
|This unparalleled||||collection,
in many cases unique,
consists ofthose items made by and/or
used by|||the crew||in the||
|pursuance||of|their||personal
life and their work,
both
manual
and professional.
This also includes
those||||items,||
|supplies|and fittings,||||necessary for the ship to fulfil its role as seafaring vessel, warship,
workplace
and home.||||||
|Bycategories,|||numbers|||held are:|||||
|Category||||||Objects||Count|||
|Clothing||||||Leather shoes, boots and jerkins, and knitted
and worsted garments|||770||
|Coinage||||||Gold and silver coins and copper tokens, a coin balance and weights and tally sticks.|||139||
|Domestic||||||Plates, dishes,
bowls, flagons, tankards,
cooking pots, spoons,
peppermills
and a|||470||
|||||||mortar.|||||
|Medical||||||Lidded
canisters
containing
ointments,
jars of medicines,
urethral
syringes,|||84||
|||||||puncture
syringe, scalpels, trepan, clyster and feeding bottle.|||||
|Musical instruments||||||Wind pipes and a fine shawm, string and percussion.|||13||
|Navigation||||||Dividers, gimbalied
compasses, chart sticks, sounding
weights and log reel.|||26||
|Ordnance||||||Heavy cast bronze
muzzle
loading
guns, breech
loading
wrought
iron guns|with||5712||
|||||||their carriages, smaller breech loading swivel guns. Ammunition
ofstone, iron, lead|||||
|||||||and composite lead-covered
iron shot. Archery equipment
including
longbows|and||||
|||||||arrows, arrow
spacers
and
wristguards.
Edgedweapons.|||||
|Personal||||||Combs,
razors,
a
'piss
pot' and
pomander;
recreational
games,
a fine|inlaid||334||
|||||||backgammon
board with counters and bone dice; handheld
sundials,
book covers,|||||
|||||||quill pens and ink pots.|||||
|Rigging||||||Deadeyes, thimbles,
blocks, parrels and sheaves, chains and cordage.|||393||
|Ships-fittings||||||Anchors,
sailcloth,
rope, waterproofing
materials,
fastenings
of wood
and|iron,||6129||
|||||||cauldrons,
bricks forming
the ships
ovens
and firewood,
lanterns
and candles,|||||
|||||||pumping
gear, furniture
and the ship's bell.|||||
|||||||25|||||
##
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##
##
|Donations
and legaci|es|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|2023|Unrestricted|Restricted|2022|
|||funds|funds|Total|funds|funds|Total|
|||f|f|E|f|f|f|
|Grant income||||||||
|Grants receivable||80,000|154,530|234,530|1,221,262|112,238|1,333,500|
|Total grant income||80,000|154,530|254,530|1,221,262|112,238|1,333,500|
|Donations||||||||
|Trusts and foundations||13,000||13,000|26,750|44,250|71,000|
|individuals||125,549|16,600|142,149|18,120|10,000|28,120|
|Corporations||642||642|737||737|
|Donation
boxes||7,323||7,323|4,336||4,336|
|Mary Rose Flag Officers||38,500||38,500|23,900||23,900|
|Gift aid recovered||16,455||16,455|6,446|2,500|8,946|
|Mary Rose Information|Group|2,229||2,229|1,242||1,242|
|Mary Rose Friends and|Patrons|12,767||12,767|10,914||10,914|
|Total donations||216,465|16,600|233,065|92,445|56,750|149,195|
|Legacies||16,266||16,266||||
|Total donations
and legacies||312,731|171,130|483,861|1,313,707|168,988|1,482,695|
|Visitor admissions||||||||
|||||Unrestricted|2023|Unrestricted|2022|
|||||funds|Total|funds|Total|
|||||f|E|f|E|
|Visitor ticket income||||1,653,772|1,653,772|1,524,151|1,524,151|
|Visitor ticket income gift aid||||244,271|244,271|254,553|254,553|
|||||1,898,043|1,898,043|1,778,704|1,778,704|
|Other income from charitable||activities||||||
|||||Unrestricted|2023|Unrestricted|2022|
|||||funds|Total|funds|Total|
|||||f|f|f|E|
|Education workshops||||24,377|24,377|10,407|10,407|
##
##
##
##
##
||Summary|oftrading||results|||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||f|f|
||Turnover||||||||||400,678|276,262|
||Total expenditure||||||||||(236,469)|(175,593)|
||Includes
logo &admin||charges f7,200 (2022:|||E7,200) paid to the|||Trust,||||
||eliminated|on consolidation|||||||||||
||Net profit|for the year|||||||||164,209|100,669|
||Amount
gift-aided to the charity||||||||||(164,209)|(100,669)|
||Retained|loss|||||||||||
||The assets|and liabilities||of Mary|Rose Trading|Limited were:|||||||
||Assets||||||||||212,089|157,280|
||Liabilities||||||||||(211,898)|(157,089)|
||Funds||||||||||191|191|
||The Mary Rose Archaeological||||Services Limited||||||||
||provision|of maritime|archaeology||and conservation||services to external organisations.||||||
||Summary|oftrading||results|||||||2023|2022|
||||||||||||f|f|
||Turnover||||||||||23,334|25,543|
||Total expenditure||||||||||(10,621)|(13,121)|
||Includes admin charges|||ofE600(2022:E600)||paid to|the Trust,||||||
||eliminated|on consolidation|||||||||||
||Net profit|for the year|||||||||12,713|12,422|
||Amount
gift-aided to the charity||||||||||(12,713)|(12,422)|
||Retained|(loss)/profit|||||||||||
||The assets|and liabilities||ofThe Mary Rose Archaeological||||Services Limited were:|||||
||Assets||||||||||29,650|30,735|
||Liabilities||||||||||(23,798)|(24,883)|
||Funds||||||||||5,852|5,852|
|6.|Investments||||||||||||
|||||||||Unrestricted||2023|Unrestricted|2022|
||||||||||funds|Total|funds|Total|
|||||||||||f|E|f|
||Bank interest receivable||||||||2,088|2,088|66|66|
##
##
##
|||Unrestricted|2023|Unrestricted|2022|
|---|---|---|---|---|---|
|||funds|Total|funds|Total|
|||E|E|E|E|
|Sundry income||27,043|27,043|14,383|14,383|
|Group||27,043|27,043|14,383|14,383|
|Intercompany|charge|7,800|7,800|7,800|7,800|
|Trust||34,843|34,843|22,183|22,183|
##
|Cost ofcharitable
activities|by fund type||||||
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|2023|Unrestricted|Restricted|2022|
||funds|funds|Total|funds|funds|Total|
|||E|E|E|E|E|
|Visitor services|735,619|53,246|788,865|735,681|6,170|741,851|
|Education|21,521|24,976|46,497|53,038|9,897|62,935|
|Conservation
and maintenance|942,516|72,674|1,015,190|934,455|20,601|955,056|
|Collections|84,050|20,034|104,084|48,675|36,660|85,335|
|Exhibition|10,796|25,000|35,796|259,759|32,750|292,509|
|Maritime
archaeology|120,507|6,660|127,167|88,524||88,524|
|Museum
building||1,031,545|1,031,545||1,032,399|1,032,399|
|PHD Operations|726,805||726,805|528,465||528,465|
|Grant expenditure|||||12,968|12,968|
||2,641,814|1,234,135|3,875,949|2,648,597|1,151,445|3,800,042|
##
|Costs of|cha|ritable
activities|||||
|---|---|---|---|---|---|---|
||||Activities|Governance|||
||||undertaken|and support|2023|2022|
||||directly|costs|Tota I|Total|
||||E||E|E|
|Visitor services|||663,140|125,725|788,865|741,851|
|Education|||38,813|7,684|46,497|62,935|
|Conservation||and maintenance|851,286|163,904|1,015,190|955,056|
|Collections|||86,934|17,150|104,084|85,335|
|Exhibition|||29,760|6,036|35,796|292,509|
|Maritime|archaeology||105,724|21,443|127,167|88,524|
|Museum|building||1,031,545||1,031,545|1,032,399|
|PHD Operations|||604,252|122,553|726,805|528,465|
|Grant expenditure||||||12,968|
||||3,411,454|464,495|3,875,949|3,800,042|
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##
##
||||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||6|6|
||Net outgoing||resources||is stated|after|charging:||||
||Depreciation|and other|||amounts|written offtangible||fixed assets|1,074,668|1,078,513|
||Loss on disposal oftangible fixed|||||assets||||1,638|
||Auditors'
remuneration||||||||6,800|6,800|
|12.|Auditors'
remuneration||||||||||
||||||||||2023|2022|
||||||||||f|6|
||Auditors'
remuneration||||-audit ofthe||financial statements||6,800|6,800|
||Auditors'
remuneration||||—other fees:||||||
||- Preparation|offinancial|||statements||||5,215|4,575|
||—Otherservices|||||||||1,100|
||||||||||12,015|12,475|
|13.|Employees||||||||||
||Employment||costs||||||2023|2022|
||||||||||f|6|
||Group||||||||||
||Wages and salaries||||||||1,445,400|1,274,274|
||Social security||costs||||||125,790|105,378|
||Pension costs||||||||136,686|135,562|
||Termination||||||||30,000||
||||||||||1,737,876|1,515,214|
||Trust||||||||||
||Wages and salaries||||||||1,371,795|1,222,346|
||Social security||costs||||||120,746|101,731|
||Pension costs||||||||132,314|131,995|
||Termination||||||||30,000||
||||||||||1,654,855|1,456,072|
||During the year||employee||termination||benefits of630,000were paid (2022:6Nil).||||
||Key management|||personnel|||||2023|2022|
||||||||||6|6|
||Remuneration||and benefits||||||323,727|317,059|
##
##
##
|Number o|Number o|femployees|femployees||||||
|---|---|---|---|---|---|---|---|---|
|The number||ofemployees||who|earned more|than E60,000 during the year was as follows:|||
||||||||2023|2022|
||||||||Number|Number|
|E70,001to|f80,000||||||||
|E90,001to|f100,000||||||||
|E100,001tof110,000|||||||||
|The average||monthly|numbers||ofemployees|during the year, was as follows:|2023|2022|
||||||||Number|Number|
|Fundraising|||||||2|2|
|Charitable|activities||||||44|43|
|Governance|||||||1|1|
||||||||47|46|
|~FII Ti
s|||||||||
|Fundraising|||||||2|2|
|Charitable|activities||||||36|35|
|Governance|||||||1|1|
||||||||39|38|
##
##
|from the|company
and was as follows;|||
|---|---|---|---|
|||2023|2022|
|Group||f|f|
|Pension|charge|136,686|135,562|
|||2023|2022|
|Trust||f|f|
|Pension|charge|132,314|131,995|
##
##
##
##
##
|Group|||||||||
|---|---|---|---|---|---|---|---|---|
||||Plant and|Donated||Motor|Conservation||
||8ulldlngs|Computers|equipment|assets|Exhibition|vehicles|equipment|Total|
||f|f|f|f|E|f|f|f|
|Cost or valuation|||||||||
|At 1April 2022|22,059,383|198,868|4,836,715|266,600|9,667,128|10,651|737,704|37,777,049|
|Additions|93,000|2,675|78,261||116,740|||290,676|
|Disposals||(993)|(3,599)|||||(4,592)|
|At 31March 2023|22,152,383|200,550|4,911,377|266,600|9,783,868|10,651|737,704|38,063,133|
|Depreciation|||||||||
|At 1April 2022|2,999,137|126,487|2,857,695|266,600|3,699,644|10,651|630,642|10,590,856|
|Charge for the year|337,137|26,913|295,950||404,338||10,330|1,074,668|
|On disposals||(993)|(3,599)|||||(4,592)|
|At 31March 2023|3,336,274|152,407|3,150,046|266,600|4,103,982|10,651|640,972|11,660,932|
|Net book values|||||||||
|At 31March 2023|18,816,109|48,143|1,761,331||5,679,886||96,732|26,402,201|
|At 31March 2022|19,060,246|72,381|1,979,020||5,967,484||107,062|27,186,193|
|Trust|||||||||
||||Plant and|Donated||Motor|Conservation||
||Buildings|Computers|equipment|assets|Exhibition|vehicles|equipment|Total|
||f|f|f|f|f|f|f|E|
|Cost or valuation|||||||||
|At 1April 2022|22,059,383|183,648|4,816,834|266,600|9,667,128|10,651|737,704|37,741,948|
|Additions|93,000|2,675|78,261||116,740|||290,676|
|Disposals||(993)|(3,599)|||||(4,592)|
|At 31March 2023|22,152,383|185,330|4,891,496|266,600|9,783,868|10,651|737,704|38,028,032|
|Depreciation|||||||||
|At 1April 2022|2,999,137|111,267|2,837,814|266,600|3,699,644|10,651|630,642|10,555,755|
|Charge for the year|337,137|26,913|295,950||404,338||10,330|1,074,668|
|On disposals||(993)|(3,599)|||||(4,592)|
|At 31March 2023|3,336,274|137,187|3,130,165|266,600|4,103,982|10,651|640,972|11,625,831|
|Net book values|||||||||
|At 31March 2023|18,816,109|48,143|1,761,331||5,679,886||96,732|26,402,201|
|At 31March 2022|19,060,246|72,381|1,979,020||5,967,484||107,062|27,186,193|
##
##
##
|17,|Stocks|||||||
|---|---|---|---|---|---|---|---|
|||||Group||Trust||
|||||2023|2022|2023|2022|
|||||E|E|E|E|
||Goods for resale|||33,995|28,580|||
|18.|Debtors|||||||
|||||Group||Trust||
|||||2023|2022|2023|2022|
|||||E|E|E|E|
||Trade debtors|||46,043|47,047|31,956|24,039|
||Amounts
owed by group undertakings|||||201,926|149,334|
||Other debtors|||814|15,126|814|15,126|
||VAT recoverable|||25,958|52,123|25,958|52,123|
||Prepayments|and accrued income||173,339|187,617|151,323|172,179|
|||||246,154|301,913|411,977|412,801|
|19.|Creditors: amounts||falling due within one year|||||
|||||Group||Trust||
|||||2023|2022|2023|2022|
|||||E|E|E|E|
||Trade creditors|||170,175|402,142|150,069|386,849|
||Other taxes and social||security|29,681|29,348|29,681|29,348|
||Other creditors|||9,298||9,298||
||Accruals and|deferred|Income|311,683|151,110|298,019|134,001|
|||||520,837|582,600|487,067|550,198|
##
##
|Analysis of net assets betwee|n
funds|||||
|---|---|---|---|---|---|
||Non charitable|Unrestricted|Designated|Restricted|Total|
||trading funds|funds|funds|funds|funds|
||E||E|E|E|
|Fund balances at 31March 2023 as represented
by:||||||
|Tangible fixed assets||3,503,607||22,898,594|26,402,201|
|Net current assets/(liabilities)|6,040|363,897|200,000|17,911|587,848|
||6,040|3,867,504|200,000|22,916,505|26,990,049|
##
##
##
|between
funds|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Non charitable|||Unrestricted||Designated||Restricted|||Total|
|||||trading funds||||funds|funds|||funds||funds|
|||||||E||||f||f||E|
|Fund balances at 31March 2022 as||||represented||by:|||||||||
|Tangible fixed assets||||||||3,256,055|||23,930,138||27,186,193||
|Net current assets/(liabilities)|||||6,040|||820,681|200,000||69,532|||1,096,253|
||||||6,040|||4,076,736|200,000||23,999,670||28,282,446||
|Designated
funds|||||||||||||||
|||||||At|Incoming||Outgoing|||||At|
|||||1|April|2022|resources||resources||Transfers|31|March 2023||
|||||||f||E|E||f|||E|
|Asset replacement|fund||||200,000|||||||||200,000|
||||||200,000|||||||||200,000|
|Trustees previously|approved||for f200,000||to be|designated||from free reserves to||an asset replacement||||fund,|
|this is to support capital||asset|replacements||required||for the Museum.||||||||
|Restricted funds|||||||||||||||
|||||||At|Incoming||Outgoing|||||At|
|||||1|April|2022|resources||resources|Transfers||31|March 2023||
|||||||E|||f|||||f|
|New Museum||||23,930,138||||(1,031,544)|||||22,898,594||
|The Band Trust|||||24,832|||15,702|(24,977)|||||15,557|
|Rathbone
Scorpion|Trust||||44,000||||(43,246)|||||754|
|Armourers
&Brasiers Trust||||||700||707|(1,407)||||||
|Garfield Weston Foundation||||||||19,842|(17,942)||(1,900)||||
|Kickstart||||||||8,831|(8,831)||||||
|The Wolfson Foundation||||||||27,868|(27,868)||||||
|UNPATH||||||||13,320|(13,320)||||||
|Adrian Swire Charitable||Trust||||||20,000|(20,000)||||||
|The 29th May 1961Charitable|||Trust|||||10,000|(10,000)||||||
|Schroder Charity Trust||||||||5,000|(5,000)||||||
|The Hobson Charity||||||||18,260|||(18,260)||||
|Greenham
Trust||||||||10,000|(10,000)||||||
|The Dixie Rose Findlay Trust||||||||5,000|(5,000)||||||
|1Cazalet||||||||10,000|(10,000)||||||
|D Cooksey||||||||5,000|(5,000)||||||
|I Purse||||||||1,600||||||1,600|
|||||23,999,670|||171,130||(1,234,135)||(20,160)||22,916,505||
##
##
##
##
##
|Restricted funds (con|tin|ued)||||||
|---|---|---|---|---|---|---|---|
||||At|Incoming|Outgoing||At|
||||1April 2021|resources|resources|Transfers|31March 2022|
||||E||E||E|
|New Museum|||24,962,537||(1,032,399)||23,930,138|
|Boshier-Hinton
Mobility|fund||524||(524)|||
|Foyle Foundation|||19,050||(20,000)|950||
|Pilgrims Trust grant|||100||(100)|||
|Anonymous
donation|||201||(201)|||
|Adrian Swire Charitable|Trust|||20,000|(20,000)|||
|Rathbone
Scorpion Trust||||5,000|(5,030)|30||
|29th May 1961Charitable||Trust||10,000|(10,000)|||
|The Band Trust||||36,000|(9,897)|(1,271)|24,832|
|Royal Pavilion
&Museums||Trust||1,094|(1,100)|6||
|Medlock Charitable
Trust||||5,000|(5,000)|||
|Jonathan
Ruffer Curatorial||Grants|||(1,000)|||
|Britford Bridge Trust||||20,000|(20,000)|||
|UNPATH||||6,660|(6,660)|||
|Rathbone
Scorpion Trust||||44,000|||44,000|
|Armourers
&.Brasiers Trust||||700|||700|
|1982Project donations||||12,500|(12,500)|||
|Rowan Bentall Trust||||250|(250)|||
|Kickstart||||6,784|(6,784)|||
||||24,982,412|168,988|(1,151,445)|(285)|23,999,670|
##
##
|leases as fo|llows:||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||E|f|
|Within one|year||||||28,500|28,500|
|Between one and||five years|||||66,500|95,000|
||||||||95,000|123,500|
|Related party transactions|||||||||
|Subsidiary|companies||||||||
|||||Company|Percentage||||
|Company
name||||number|shareholding||Description||
|Mary Rose|Trading|Limited||01447628|100Yo|Mary Rose shop, hospitality||and cafe.|
|Mary Rose|Archaeological||Services Limited|03131273|10076|Maritime
services.|archaeology
and|conservation|
##
##
##
##
##
##
|||||||||
|---|---|---|---|---|---|---|---|
|27.|Gross cash flows|||||||
|||||||2023|2022|
|||||||E|E|
||Returns|on investments||and servicing offinance||||
||Interest received|||||2,088|66|
||Capital expenditure|||||||
||Payments|to acquire tangible assets||||(290,676)|(54,693)|
|28.|Analysis|of changes|in|net funds and net debt||||
||||||Opening|Cash|Closing|
||||||balance|flows|balance|
||Cash at bank and in hand||||1,348,360|(519,824)|828,536|
|29.|Company|limited
by|guarantee|||||
##
##
##
|||||||Group||Trust||
|---|---|---|---|---|---|---|---|---|---|
|||||||2023|2022|2023|2022|
|||||||f|f|f|f|
|Financial|assets|||||||||
|Debt instruments||measured||at amortised|cost:|||||
|-Trade debtors (note|||18)|||46,043|47,047|31,956|24,039|
|—Amounts|owed|by group||undertakings|(note 18)|||201,926|149,334|
|-Other debtors (note|||18)|||814|15,126|814|15,126|
|||||||46,857|62,173|234,696|188,499|
|Financial|liabilities|||||||||
|Measured|at amortised||cost:|||||||
|—Trade creditors (note|||19)|||170,175|402,142|150,069|386,849|
|—Other creditors||(note|19)|||9,298||9,298||
|||||||179,473|402,142|159,367|386,849|
##
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
|Incoming resources from|||generating||funds:||||
|Donations|and legacies||||||||
|Trusts and|foundations||||||13,000|71,000|
|Individuals|||||||142,149|28,120|
|Corporations|||||||642|737|
|Donation
boxes|||||||7,323|4,336|
|Mary Rose|Flag Officers||||||38,500|23,900|
|Gift aid recovered|||||||16,455|8,946|
|Mary Rose|Information||Group||||2,229|1,242|
|Mary Rose|Friends and||Patrons||||12,767|10,914|
|Legacies|||||||16,266||
|Grants receivable|||||||234,530|1,333,500|
||||||||483,861|1,482,695|
|Visitor admissions|||||||||
|Visitor ticket income|||||||1,653,772|1,524,151|
|Visitor ticket income||gift aid|||||244,271|254,553|
||||||||1,898,043|1,778,704|
|Investments|||||||||
|Bank interest receivable|||||||2,088|66|
||||||||2,088|66|
|Income from trading||subsidiaries|||||||
|MRTL|||||||400,678|276,262|
|MRAS|||||||23,334|25,543|
||||||||424,012|301,805|
|Total incoming|resources||from|generating||funds|2,808,004|3,563,270|
|Other income|from charitable|||activities|||||
|Education workshops|||||||24,377|10,407|
||||||||24,377|10,407|
|Other income|||||||||
|Sundry income|||||||107,043|14,383|
||||||||107,043|14,383|
|Total Income|||||||2,939,424|3,588,060|
##
##
##
|Resources expended
Commercial
trading operations;|Resources expended
Commercial
trading operations;|Resources expended
Commercial
trading operations;|Resources expended
Commercial
trading operations;||||||
|---|---|---|---|---|---|---|---|---|
|Trading activities ofsubsidiaries||||(consolidated)|||||
|MRTL|||||229,269||168,393||
|MRAS|||||10,021||12,521||
|||||||239,290||180,914|
|Total cost of|commercial||trading activities|||239,290||180,914|
|Fundraising:|||||||||
|cost ofgoods sold||and other||costs|||||
|Fundraising|||||||||
|Staff costs|||||60,860||77,130||
|Travelling|||||455||66||
|Consultancy|||||51,700||45,500||
|Management|&admin|costs|||2,685||1,531||
|General costs|||||882||388||
|||||||116,582||124,615|
|Total fundraising
trading|||||||||
|cost ofgoods sold||and other||costs||116,582||124,615|
|Total cost ofgenerating||funds||||355,872||305,529|
##
|||||2023||2022|
|---|---|---|---|---|---|---|
|Charitable
activities|||||||
|Visitor services|||||||
|Activities
undertaken|||directly||||
|Staff costs||||387,688||369,097|
|Volunteers
subsistence||||11,159||9,362|
|Travel &entertainment||||427||1,311|
|Health &safety||||2,931||7,668|
|Consultancy||||12,847||12,516|
|Management
&admin|||costs|8,105||15,517|
|Rates||||4,557||2,326|
|Insurance||||35,110||30,850|
|Maintenance||||74,372||77,301|
|Vehicle running|costs|||675||1,365|
|Museum
enhancements||||713||6,796|
|Events &programming||||12,240||17,223|
|Marketing||||18,746||61,650|
|Public relations||||46,062||5,088|
|Grant expenditure||||43,246|||
|General costs||||4,262||2,911|
||||||663,140||
|Support costs|||||||
|Staff costs||||74,902||74,664|
|Premises costs||||8,340||8,958|
|Repairs &maintenance|||costs|6,802||4,444|
|Insurance||||12,208||10,673|
|Travel expenses||||1,740||2,017|
|Accountancy||||1,411||1,539|
|Audit fees||||1,842||1,844|
|Legal &professional||fees||137||3|
|Other professional||fees||6,126||4,289|
|Administration|expenses|||3,807||2,644|
|Depreciation
&|impairment|||7,284||7,909|
|Bank charges &|interest|||599||544|
|General costs||||527||1,342|
||||||125,725||
|Visitor services total|||expenditure||788,865||
##
|Education||||||||
|---|---|---|---|---|---|---|---|
|Activities undertaken|||directly|||||
|Staff costs||||37,447||49,650||
|Travel &entertainment||||196||214||
|Management|& admin||costs|245||150||
|Depreciation||||||288||
|General costs||||925||2,426||
||||||38,813||52,728|
|Support costs||||||||
|Staff costs||||4,579||6,305||
|Premises costs||||510||756||
|Maintenance|8 plant||hire|416||375||
|Insurance||||746||901||
|Travel &entertainment||||106||170||
|Accountancy||||86||130||
|Audit fees||||112||156||
|Legal &professional||fees||8||||
|Consultancy||||374||362||
|Management|8 admin||costs|233||223||
|Depreciation||||445||668||
|Bank charges|&interest|||37||46||
|General costs||||32||115||
||||||7,684||10,207|
|Education total expenditure|||||46,497||62,935|
##
##
|Conservation
and|Conservation
and|maintenance||||||
|---|---|---|---|---|---|---|---|
|Activities undertaken||directly||||||
|Staff costs||||364,100||314,268||
|Premises costs||||37,645||10,505||
|Light &heat||||225,310||214,539||
|Insurance||||16,325||795||
|Vehicle running
costs||||||2,414||
|Maintenance|8 plant|hire||155,679||219,600||
|Travel &entertainment||||33||187||
|Consultancy||||2,800||4,000||
|Management|& admin|costs||1,146||3,588||
|Depreciation||||13,857||14,254||
|Profit/loss
on|disposals offixed assets|||||1,638||
|Grant expenditure||||29,297||||
|General costs||||5,094||16,250||
||||||851,286||802,038|
|Support costs||||||||
|Staff costs||||97,648||94,523||
|Premises costs||||10,874||11,341||
|Maintenance|& plant hire|||8,867||5,626||
|Insurance||||15,915||13,512||
|Travel &entertainment||||2,269||2,553||
|Accountancy||||1,840||1,948||
|Audit fees||||2,399||2,334||
|Legal &professional
fees||||180||3||
|Consultancy||||7,985||5,430||
|Management|& admin|costs||4,963||3,347||
|Depreciation||||9,497||10,013||
|Bank charges|&interest|||781||689||
|General costs||||686||1,699||
||||||163,904||153,018|
|Conservation|and maintenance||total expenditure||1,015,190||955,056|
##
##
|Collections|Collections|||||||
|---|---|---|---|---|---|---|---|
|Activities undertaken|||directly|||||
|Staff costs||||81,095||59,444||
|Premises costs||||||5,325||
|Maintenance|&plant||hire|2,748||3,690||
|Insurance||||||602||
|Travel &entertainment||||500||225||
|Management|8 admin||costs|215||81||
|Depreciation||||2,354||2,402||
|General costs||||22||54||
||||||86,934||71,823|
|Support costs||||||||
|Staff costs||||10,217||8,347||
|Premises costs||||1,138||1,001||
|Maintenance|&plant||hire|928||497||
|insurance||||1,665||1,193||
|Travel &entertainment||||237||225||
|Accountancy||||193||172||
|Audit fees||||251||206||
|Legal &professional||fees||19||||
|Consultancy||||835||480||
|Management|& admin||costs|519||296||
|Depreciation||||994||884||
|Bank charges|&interest|||82||61||
|General costs||||72||150||
||||||17,150||13,512|
|Collections total expenditure|||||104,084||85,335|
##
##
|Exhibition|Exhibition||||||
|---|---|---|---|---|---|---|
|Activities undertaken||directly|||||
|Museum
enhancements|||29,760||244,850||
|||||29,760||244,850|
|Support costs|||||||
|Staff costs|||3,595||29,440||
|Premises costs|||400||3,532||
|Maintenance|||327||1,752||
|Insurance|||586||4,208||
|Travel &entertainment|||84||795||
|Accountancy|||68||607||
|Audit fees|||88||727||
|Legal &professional||fees|7||1||
|Consultancy|||294||1,691||
|Administration|costs||183||1,042||
|Depreciation|||350||3,119||
|Bank charges &|interest||29||215||
|General costs|||25||530||
|||||6,036||47,659|
|Exhibition total expenditure||||35,796||292,509|
##
##
|Maritime
archaeolo|Maritime
archaeolo|g|y|y|||||
|---|---|---|---|---|---|---|---|---|
|Activities undertaken|||directly||||||
|Staff costs|||||104,386||69,714||
|Museum
enhancements|||||140||3,541||
|Management|& admin||costs||819||808||
|Genera
I costs|||||379||38||
|||||||105,724||74,101|
|Support costs|||||||||
|Staff costs|||||12,774||8,910||
|Premises costs|||||1,423||1,069||
|Maintenance|&plant||hire||1,160||530||
|Insurance|||||2,082||1,274||
|Travel &entertainment|||||297||241||
|Accountancy|||||241||184||
|Audit fees|||||314||220||
|Legal &professional||fees|||24||||
|Consultancy|||||1,045||512||
|Management|& admin||costs||649||315||
|Depreciation|||||1,242||944||
|Bank charges|&interest||||102||65||
|General costs|||||90||159||
|||||||21,443||14,423|
|Maritime
archaeology||||total expenditure||127,167||88,524|
|Museum
building|||||||||
|Activities undertaken|||directly||||||
|Depreciation|||||1,031,545||1,032,399||
|||||||1,031,545||1,032,399|
|Museum
building||total||expenditure||1,031,545||1,032,399|
##
##
|PHD Operations||||||||
|---|---|---|---|---|---|---|---|
|Activities undertaken|directly|||||||
|PHD Operations
Visitor||Centre|costs|144,558||112,461||
|Staff costs||||300,410||211,864||
|Marketing||||158,475||116,382||
|General costs||||809||1,655||
||||||604,252||442,362|
|Support costs||||||||
|Staff costs||||73,011||53,188||
|Premises costs||||8,131||6,382||
|Maintenance||||6,630||3,167||
|Insurance||||11,900||7,604||
|Travel &entertainment||||1,697||1,437||
|Accountancy||||1,376||1,095||
|Audit fees||||'1,794||1,313||
|Legal &professional||||135||3||
|Consultancy||||5,974||3,056||
|Management
&admin||costs||3,711||1,883||
|Depreciation||||7,101||5,634||
|Bank charges &interest||||584||388||
|General costs||||513||953||
||||||122,553||86,103|
|PHD Operations
total||expenditure|||726,805||528,465|
|Grant expenditure||||||||
|Activities undertaken|directly|||||||
|Restricted grant expenditure||||||12,968||
||||||||12,968|
|Restricted grant expenditure|||total expenditure||||12,968|
|Total charitable
activity|expenditure||||3,875,949||3,800,042|
|Total resources expended|||||4,231,821||1,105,571|
|Net incoming/(outgoing)||resources for the year|||(1,292,397)||(517,511)|