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2023-12-31-accounts

REGISTERED COMPANY NUMBER: 01690404 (England and Wales) REGISTERED CHARITY NUMBER: 289484

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DOVER TRANSPORT MUSEUM SOCIETY

(A COMPANY LIMITED BY GUARANTEE)

Cassidys Chartered Accountants South Stour Offices Roman Road Mersham Ashford Kent TN25 7HS

DOVER TRANSPORT MUSEUM SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 15
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DOVER TRANSPORT MUSEUM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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 2019).

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The Charity's objects continue to be the promotion and furtherance of education and knowledge of transport history and to establish, administer and maintain a museum for such purposes.

There are no paid or full-time staff but the Trustees meet regularly to manage the museum's affairs.

In setting objectives and planning for activities, the Trustees have given consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Volunteers

Active volunteer engagement is the essential factor in the ongoing success of the museum. There are currently circa 75 active volunteers with a total paid up membership of 160+. Each year sees a number of volunteers leave and new members recruited and 2023 has been no exception. New Trustees were recruited during the year when Pete Wright and Brian Flood returned to the trustee group with Phil Letchford, Clive Taylor and Sue Overall also joining. Our long standing Chairman, Dave Atkins stood down after 30 years at the helm and Brian Flood was elected Chairman. Dave continues as a member of the trustee committee.

Total number of volunteer hours worked in 2023, 15,120.

Page 1

DOVER TRANSPORT MUSEUM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE Review of activities

As can be seen in the accounts, the year 2023 delivered a healthy financial surplus which reflects the museums success in attracting increasing numbers of visitors. Visitor numbers in the year were over 40% up versus 2022; a tribute to the hard work of all the volunteers involved in delivering a positive visitor experience.

The reintroduction during the year of a regular and consistent catering offer has been a major step forward. Visitors rightly expect catering services at venues such as the museum and the revenue that accrues from this activity is an essential element in our success.

The first floor office accommodation was completed and occupied during the year enabling preliminary works to start on expanding display space.

Significant additions to the collection in the year included the Morris Minor Post Office van, the Austin A40 Farina (donated by Brian Flood), 2 very different BSA Bantams and 4 mopeds. A number of model boats came our way and all are on display; the pick of these being the 'X' craft submarine model. A wide range of other artefacts continue to be offered by the public and businesses as donations or loan items including for 2023, significant numbers of photographic equipment and the Hitachi model of the locally operated 'Javelin' train. Available exhibition and storage space remains a significant influencing factor when considering additional items for the collection.

The now traditional events programme was staged at the museum including Drive it Day, the Classic Car Show, the Model Weekend and the Classic Motorcycle Show. This programme was complemented with a number of single marque days including the Triumph Day, which were run alongside normal open days on a Sunday. This proved to be highly successful in attracting both exhibitors and visitors.

External events attended during the year included The Heritage Show at Detling, East Kent Ploughing Match, Lord of Lydden, Heritage Sprint, River Fete and the Old Timers Rally, Folkestone. Each of these offered opportunity to raise awareness of the museum and to raise funds through the selling of raffle tickets.

Total visitors to the museum in the year, 9042.

FINANCIAL REVIEW

a. Going concern

Reserves at year end were sufficient for the Trustees to have a reasonable expectation that the Charity would continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The museum estate is large and consists of old military buildings for which the provision of maintenance funds is a constant challenge but owning the freehold of the property enables us to be confident in the security of our continuing investment in the infrastructure. However, notwithstanding this advantageous position the Trustees consider that maintaining a proportion of income to reserves is essential for prudent financial management and have agreed to retain the reserves policy introduced for prior years. The financial position is reviewed by the Governing Committee on a regular basis and funds are committed to reserves in line with this policy.

Page 2

DOVER TRANSPORT MUSEUM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT a. Constitution

Dover Transport Museum Society is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. It is a registered charity number 289484.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association and the Rules of the Dover Transport Museum Society. The appointment of new Trustees of the society is ordinarily made at the AGM. Each year three of the committee of Trustees of the museum according to the rules of the Society must stand down. They can choose to stand for re-election at this time and applications from other members of the Society who may wish to stand are also accepted.

All members wishing to stand or re-stand must inform the committee of their intention in writing along with a seconder from the membership at least one full week before the published date of the AGM. If there are more people standing than there are places available, a ballot of the membership is held at the AGM with proxy voting slips available for members unable to attend if requested.

c. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed; particularly those related to the operations and finances of the Charity and are satisfied that adequate systems and procedures are in place to mitigate any exposure.

Plans for future periods

The principal aims for 2024 are to secure improvements to the estate, the collection and the financial performance of the museum as well as progressing the development of key projects identified as essential to the future of the museum and its mission.

Essential to all these aims will be the effort to increase volunteer numbers, enhance staff training, development and management and to further enrich the visitor experience by continuing to sustain our improved catering capacity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 01690404 (England and Wales)

Registered Charity number

289484

Registered office

Willingdon Road Port Zone Whitfield Dover Kent CT16 2JX

Page 3

DOVER TRANSPORT MUSEUM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees

D Atkins (Resigned as Chairman 27 September 2023) B Flood MBE QPM (Elected Chairman 27 September 2023) Rev'd J Lines MBE E Woodruff E Dixon W D Poulter D J Brazier (Resigned 11 August 2023) A Cousins (Resigned 6 June 2023) R J Preece S J Agg P J Letchford (appointed 7 September 2023) P Wright (appointed 15 June 2023) Independent Examiner Cassidys Chartered Accountants South Stour Offices Roman Road Mersham Ashford Kent TN25 7HS Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ S J Agg - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOVER TRANSPORT MUSEUM SOCIETY

Independent examiner's report to the trustees of Dover Transport Museum Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities 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

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:

  1. 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

  3. 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

  4. 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.

S G Whorlow

Cassidys Chartered Accountants South Stour Offices Roman Road Mersham Ashford Kent TN25 7HS

Date: .............................................

Page 5

DOVER TRANSPORT MUSEUM SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
8,334
Charitable activities
Members subscription
2,461
Museum Door
45,903
Tea Bar
19,172
Vehicle Rent
3,960
Museum Shop
10,633
Schools
2,899
Raffle
3,572
Misc Income
6,109
Events
6,752
General
242
Total
110,037
EXPENDITURE ON
Charitable activities
Museum Door
4,939
Tea Bar
10,133
Museum Shop
4,806
Schools
-
Raffle
1,859
Events
272
General
59,056
Total
81,065
NET INCOME
28,972
RECONCILIATION OF FUNDS
Total funds brought forward
509,928
TOTAL FUNDS CARRIED FORWARD
538,900		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
942
942		 31.12.23
31.12.22
Total
Total
funds
funds
£
£
8,334
8,710
2,461
2,445
45,903
36,028
19,172
7,437
3,960
3,930
10,633
7,506
2,899
552
3,572
711
6,109
2,024
6,752
3,952
242
185
110,037
73,480
4,939
2,922
10,133
3,464
4,806
2,641
-
126
1,859
1,604
272
14,074
59,056
41,646
81,065
66,477
28,972
7,003
510,870
503,867
539,842
510,870

The notes form part of these financial statements

Page 6

DOVER TRANSPORT MUSEUM SOCIETY

BALANCE SHEET 31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
5
CURRENT ASSETS
Stocks
6
Debtors
7
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.12.23
£
489,619
2,348
7,064
50,530
59,942
(9,719)
50,223
539,842
539,842
538,900
942
539,842		 31.12.22
£
478,970
2,348
7,802
28,683
38,833
(6,933)
31,900
510,870
510,870
509,928
942
510,870

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

DOVER TRANSPORT MUSEUM SOCIETY

BALANCE SHEET - continued

31 DECEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. S J Agg - Trustee

The notes form part of these financial statements

Page 8

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2019)', 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 probable that the income will be received and the amount can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.

All expenditure is inclusive of irrecoverable VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on cost Motor vehicles - 25% on cost Computer equipment - 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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 explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 9

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |31.12.23|31.12.22| |£|£| |Depreciation - owned assets|5,966|3,435|

----- End of picture text -----

3. TRUSTEES' REMUNERATION AND BENEFITS

During the year, no Trustees received any remuneration or other benefits (2021: £Nil).

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021: £Nil).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |fund|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |-| |Donations and legacies|8,710|8,710| |Charitable activities| |-| |Members subscription|2,445|2,445| |Museum Door|36,028|-|36,028| |Tea Bar|7,437|-|7,437| |Vehicle Rent|3,930|-|3,930| |-| |Museum Shop|7,506|7,506| |Schools|552|-|552| |Raffle|711|-|711| |Misc Income|2,024|-|2,024| |Events|3,952|-|3,952| |General|185|-|185| |Total|73,480|-|73,480| |EXPENDITURE ON| |Charitable activities| |Museum Door|2,922|-|2,922| |Tea Bar|3,464|-|3,464| |-| |Museum Shop|2,641|2,641| |Schools|126|-|126| |Raffle|1,604|-|1,604| |Events|14,074|-|14,074| |General|40,287|1,359|41,646| |Total|65,118|1,359|66,477| |NET INCOME/(EXPENDITURE)|8,362|(1,359)|7,003|

----- End of picture text -----

continued...

Page 10

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 501,566 2,301 503,867
TOTAL FUNDS CARRIED FORWARD 509,928 942 510,870
5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 January 2023 452,624 14,263 34,005
Additions - 4,649 2,366
At 31 December 2023 452,624 18,912 36,371
DEPRECIATION
- -
At 1 January 2023 21,922
Charge for year - 697 2,869
At 31 December 2023 - 697 24,791
NET BOOK VALUE
At 31 December 2023 452,624 18,215 11,580
At 31 December 2022 452,624 14,263 12,083
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 3,400 2,713 507,005
Additions 9,600 - 16,615
At 31 December 2023 13,000 2,713 523,620
DEPRECIATION
At 1 January 2023 3,400 2,713 28,035
-
Charge for year 2,400 5,966
At 31 December 2023 5,800 2,713 34,001
NET BOOK VALUE
At 31 December 2023 7,200 - 489,619
At 31 December 2022 - - 478,970
----- End of picture text -----

continued...

Page 11

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Included in land and buildings is freehold land at a cost of £360,012 (2021 - £360,012) which is not depreciated. The Trustees consider the value of freehold property to be approximately £1.4m, but no revaluation has been implemented. For this reason, depreciation is considered inappropriate.

6.
STOCKS
Stocks
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accrued expenses
9.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
489,619
-
Current assets
59,000
942
Current liabilities
(9,719)
-
538,900
942		 31.12.23
£
2,348
31.12.23
£
-
7,064
7,064
31.12.23
£
7,192
90
2,437
9,719
31.12.23
Total
funds
£
489,619
59,942
(9,719)
539,842		 31.12.22
£
2,348
31.12.22
£
120
7,682
7,802
31.12.22
£
6,843
90
-
6,933
31.12.22
Total
funds
£
478,970
38,833
(6,933)
510,870

continued...

Page 12

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Kent County Council - Security
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Kent County Council - Security
Kent Council Council Combined Members
Grant
TOTAL FUNDS		 At 1.1.23
£
509,928
942
510,870
Incoming
resources
£
110,037
110,037
At 1.1.22
£
501,566
1,386
915
2,301
503,867		 Net
movement
At
in funds
31.12.23
£
£
28,972
538,900
-
942
28,972
539,842
Resources
Movement
expended
in funds
£
£
(81,065)
28,972
(81,065)
28,972
Net
movement
At
in funds
31.12.22
£
£
8,362
509,928
(444)
942
(915)
-
(1,359)
942
7,003
510,870

continued...

Page 13

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Kent County Council - Security
Kent Council Council Combined Members
Grant		 Incoming
resources
£
73,480
-
-		 Resources
Movement
expended
in funds
£
£
(65,118)
8,362
(444)
(444)
(915)
(915)
- (1,359)
(1,359)
TOTAL FUNDS 73,480 (66,477)
7,003

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Kent County Council - Security
Kent Council Council Combined Members
Grant
TOTAL FUNDS		 At 1.1.22
£
501,566
1,386
915
2,301
503,867		 Net
movement
in funds
£
37,334
(444)
(915)
(1,359)
35,975		 At
31.12.23
£
538,900
942
-
942
539,842

continued...

Page 14

DOVER TRANSPORT MUSEUM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Kent County Council - Security
Kent Council Council Combined Members
Grant
TOTAL FUNDS		 Incoming
resources
£
183,517
-
-
-
183,517		 Resources
Movement
expended
in funds
£
£
(146,183)
37,334
(444)
(444)
(915)
(915)
(1,359)
(1,359)
(147,542)
35,975

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 15