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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 01808079 (England and Wales) REGISTERED CHARITY NUMBER: 289555

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE FARMLAND MUSEUM

THE FARMLAND MUSEUM (Company number 01808079)

TABLE OF CONTENTS

ABLE OF CONTENTS
Page
Report of the Trustees 1
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 10

THE FARMLAND MUSEUM (Company number 01808079) REPORT OF THE TRUSTEES

The trustees (who are also the directors of The Farmland Museum for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report contains a directors’ report, as required by company law.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects are the promotion of the education of the public in the social and natural history, geology and archaeology of England with particular reference to agriculture and agricultural history in Cambridgeshire and the Fens.

Public benefit

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. In particular, the Trustees have considered how planned activities will contribute to the aims and objectives they have set.

The Trustees have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance.

The activities of the trust educate the public in the social and natural history, geology and archaeology of England, with particular reference to agriculture and agricultural history in Cambridgeshire and the Fens.

1

THE FARMLAND MUSEUM (Company number 01808079) REPORT OF THE TRUSTEES

ACHIEVEMENTS AND PERFORMANCE

For the Farmland Museum, 2021 has been an unusual but positive year. Preparations for our regular seasonal opening in early April were hampered by lockdown and Covid restrictions, but we successfully reopened the museum as an outdoor attraction on 15[th] April, followed by some indoor spaces, with Covid restrictions in place, on 20[th] May and a full reopening on 22[nd] July.

The museum’s new opening hours are Thursday to Sunday, from the earlier time of 10am until 4pm. The earlier opening time has been well received by visitors, especially those with pre-school children. All tickets to the museum are annual passes.

Visitor numbers were low initially, unsurprisingly given the restrictions in place, but increased as the season progressed, with a 25% increase of visitors between June and October 2021 when compared to the same period in 2019.

Final visitor numbers, with comparison figures for the previous 4 years are shown in the following table:

Month 2017 2018 2019 2020 2021
April 1399 1231 1442 Closed 200
May 1270 1225 1412 Closed 581
June 1021 774 845 Closed 781
July 1432 1024 869 Closed 985
August 2119 1713 1714 481 2372
September 1025 811 765 975 1031
October 1204 865 753 943 1004
TOTAL 9470 7643 7800 2399 6954

Postcode data collected from our visitors tells us that visitors come from all across the UK, but primarily the South Cambridgeshire District Council area. Not surprisingly, over 1/3 of our visitors come from postcodes in South Cambridgeshire district and over 60% come from Cambridgeshire.

A number of changes have been made to the staff team at the museum this year, creating a strong core team of three who have worked hard to ensure the museum’s success during turbulent times. Sarah Michael, our former Commercial Officer, was promoted to Museum Manager and we recruited Emily Deal as our Collections and Audience Engagement Officer, and Laura Andrews as Cafe Supervisor.

With sustainability and creation of a commercial enterprise seen as prime importance in our business plan, we are keen to ensure that our core museum commitments remain at the heart of all we do too. Key events were also offered during the year, to bring in additional visitors and income. During school holidays, we delivered free children’s craft activities and trails centred around a different historical theme each week, including 1940s (with a large-scale re-enactment event), archaeology (incorporating the Waterbeach exhibition), Modern Farming, Traditional Games, Medieval Week, and Tudor Farm Week. The activities were marketed as part of the University of Cambridge Museums Summer at the Museums programme. Other successful events at the museum this year included Heritage Open Day, with free entry for all, model steam train demonstrations and Halloween.

Volunteers remain at the heart of all we do. We calculated that in 2020/21 volunteers offered a total of 3,340 hours to our museum. Our volunteers told us in a survey that they felt the museum kept them connected and gave them a sense of wellbeing during lockdown and beyond. As we did not open on a Wednesday this year, this day was set aside for volunteers to come in and work safely without concerns about mixing with large groups of visitors. We have welcomed a number of new team members this year.

2

THE FARMLAND MUSEUM (Company number 01808079) REPORT OF THE TRUSTEES

Our education offer has grown this year with new volunteers in place to deliver activities and a refreshed loan box collection for use by local schools. Although visits did not take place early in 2021, we welcomed five schools to the museum during Autumn term.

New exhibitions and displays have been well-received by visitors in 2021, including a new Fenland display to include notable Fenlander Josh Scott’s punt and punt gun (with support from Cambridgeshire County Council and Arts Council England’s Museum Grant Scheme and from donations made in memory of Mike Delanoy, the museums founder), re-arrangement of the Auctioneer’s display and inclusion of recently donated items relating to Chivers Jam making.

Developers Urban and Civic, working with Oxford Archaeology, offered to display their archaeological finds from a dig at the Waterbeach Barracks development at the museum from late-July through to September. They covered the costs of the display and it was very well received by the local community who enjoyed the chance to explore Iron Age finds discovered on their doorstep.

Building on our museum accreditation, we have been successful in an application to Share East for a Collections Review and Rationalisation grant of almost £3,000 to purchase materials to clear and organise the thousands of items in our upper store. The project is now underway, with a team of volunteers, including some Trustees, in regular attendance to carry out the work. Once the collection has been fully reviewed, we plan to create a new exhibition for display in our new space.

We are continuing to build partnerships with organisations also serving our local communities and we have been very much involved with Wicken Fen on the Farming, Fens and the Future aspect of their Footprints project. We are working together on engagement with KS3 students on the history of farming and have attended local fairs as a joint entity.

As part of our development as a sustainable commercial entity, we continue to offer our site for hire to external groups and businesses. In spite of the pandemic, we have still had bookings this year for business meetings, yoga classes, dog training classes and TV filming. We plan to build on this next year and have been awarded two small grants of £700 and £500 as part of Cambridgeshire County Council’s small project grants scheme to allow us to refurbish our education and meeting room, and to engage a consultant to develop our site hire and room booking offer.

Improvements to the museum this year are being reflected in our online reviews. We have seen many 5 star reviews with praise for the museum on both Trip-advisor and Facebook.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Museum is governed by its Memorandum and Articles of Association and constitutes a company limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

As set out in the Articles of Association (39-48), the Trustees have power at any time to appoint any person to be a Trustee either to fill a casual vacancy or as an addition to the existing Trustees. Any Trustees so appointed shall hold office only until the next AGM and shall then be eligible for election or re-election.

The Chairman of the Board of Trustees is the person appointed as Chairman by majority at each AGM of the Charity.

The Chairman will hold office from the date of his/her appointment until determination of the AGM next following the AGM at which he/she was appointed.

3

THE FARMLAND MUSEUM (Company number 01808079) REPORT OF THE TRUSTEES

The Trust may from time to time by Ordinary Resolution increase or reduce the number of Trustees but so that the number of Trustees is at no time less than three. When considering Trustees, the Board has regard to the requirement for any specialist skills needed.

FINANCIAL REVIEW

Because 2020 was such an unusual year, comparison with that year in the accounts reveals little of interest. A better comparison is with 2019 which was the year prior to COVID-19.

On that basis, we show here some selected comparisons with that year

----- Start of picture text -----
2019 2021 Change
£ £ £
Admissions 12,778 16,308 3,530
Shop income 6,504 6,990 486
Café income 9,955 30,438 20,513
Net unrestricted income 284 11,158 11,455
----- End of picture text -----

As can be seen, the financial results have been extremely encouraging, and the final position at the year end was a balance of net current assets in the General Fund of £41,681. The Trustees therefore have felt it appropriate to designate part of this balance as a Museum Development Fund. This leaves a balance on current assets in the General Fund of £31,681 which represents just under 4.5 months gross unrestricted expenditure.

Reserves policy

We have a stated reserves policy to hold current assets in the General Fund representing 3 months expenditure at the year end to cover the period between January and March when the museum is not open for visitors. As noted above, at the end of 2021, the net current assets total in the General Fund (after transfer of £10,000 to the Designated Development Fund) was equivalent to 4.5 months’ expenditure which comfortably covers this.

Related parties

Councillor Anna Bradnam is the appointed representative of South Cambridgeshire District Council on the committee, who are therefore a related party. Transactions with the Council are disclosed in the notes to the financial statements.

4

THE FARMLAND MUSEUM (Company number 01808079) REPORT OF THE TRUSTEES

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01808079 (England and Wales)

Registered Charity number

289555

Registered office

Denny Abbey Ely Road Waterbeach CAMBRIDGE Cambridgeshire CB25 9PQ

Trustees

Mr S Archer Chairman Miss V Atkinson

Ms C A Hunt

Dr F M McMillan

Mr M Peirson

Dr H Phillips

Mr S O Venn Appointed 10 December 2021

Dr J R Williamson

Dr R M Williamson Treasurer

South Cambridgeshire District Council Representative

Councillor Anna Bradnam is the appointed representative of South Cambridgeshire District Council, and attends meetings of the Trustees.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 31 May 2022 and signed on its behalf by:

…………………………………………………………………………………

S G Archer, Chair of Trustees

5

THE FARMLAND MUSEUM (Company number 01808079) INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE FARMLAND MUSEUM

I report on the accounts for the year ended 31 December 2021 set out on pages 7 to 18.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Matthew Pettifer FCA Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road Girton CAMBRIDGE CB3 0QH

6

THE FARMLAND MUSEUM (Company number 01808079) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING PROFIT AND LOSS ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Museum
3
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising funds
8
Charitable activities
Museum
8
Total
NET INCOME / (EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
23,249
34,199
38,712
4
96,164
31,867
53,139
85,006
11,158
-
11,158
38,310
49,468		 Restricted
funds
£
4,407
-
-
-
4,407
610
11,800
12,410
(8,003)
-
(8,003)
135,732
127,729		 2021 total
funds
£
27,656
34,199
38,712
4
100,571
32,477
64,939
97,416
3,155
-
3,155
174,042
177,197		 Unrestricted
funds
£
40,720
16,237
3,204
29
60,190
6,274
31,160
37,434
22,756
10,220
32,976
5,334
38,310		 Restricted
funds
£
28,600
-
-
-
28,600
-
19,693
19,693
8,907
(10,220)
(1,313)
137,045
135,732		 2020 total
funds
£
69,320
16,237
3,204
29
88,790
6,274
50,853
57,127
31,663
-
31,663
142,379
174,042

7

THE FARMLAND MUSEUM (Company number 01808079) BALANCE SHEET AT 31 DECEMBER 2021

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Stocks
12
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS / (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
Creditors: amounts due after more than one year
15
NET ASSETS
FUNDS
Unrestricted funds
16
Restricted funds
16		 2021 total
funds
£
189,509
1,728
7,014
44,912
53,654
(10,266)
43,388
232,897
(55,700)
177,197
49,468
127,729
177,197		 2020 total
funds
£
197,297
1,173
12,466
32,928
46,567
(9,322)
37,245
234,542
(60,500)
174,042
38,310
135,732
174,042

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2021 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

8

THE FARMLAND MUSEUM (Company number 01808079) BALANCE SHEET

AT 31 DECEMBER 2021

(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 provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on 31 May 2022 and were signed on its behalf by:

.............................................

S G Archer, Chair of Trustees

9

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

LEGAL FORM

The charity is a registered charity registered in England and Wales number 289555 and a company limited by guarantee number 01808079 having no share capital incorporated in England and Wales. Its registered office and principal place of business is at Denny Abbey, Ely Road, Waterbeach, CB25 9PQ.

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.

The accounts have been prepared on a Going Concern basis. The charity is heavily dependent on income from relatively few funders together with admissions and funds from school visits.

The Trustees have an agreement in place with administrators of the Local Government Pension Scheme concerning the significant pension liability disclosed in the notes. This provides for an initial lump-sum payment and then a series of monthly instalments as disclosed in notes 14 and 15.

The Trustees are confident that the Charity will have sufficient cash to continue in business for the next 12 months from the date of this report and therefore that the Going Concern Basis of preparation is appropriate.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

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.

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.

Allocation and apportionment of costs

Costs are directly allocated to restricted funds where the costs have been incurred in accordance with the terms of the restricted fund.

Tangible fixed assets

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

These notes form part of the statutory financial statements

Page 10

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance

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.

Significant judgements

Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity’s accounting policies that have significant effect on the amounts recognised in the accounts. There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Charitable activities

The trustees are of the view that the charity has one main activity – that of educating the public in the social and natural history, geology and archaeology of England. Charitable activity costs have therefore been allocated to this activity.

Pension costs

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments and accrued income are recognised at the amount prepaid or accrued net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of 3 months or less from the date of acquisition or opening of the deposit.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

These notes form part of the statutory financial statements

Page 11

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

2 GRANTS AND DONATIONS RECEIVED

Principal donations and grants received were

Business rates support
South Cambridgeshire District Council
Donations via Charities Aid Foundation
Fossey Trust
CJRS Furlough grants
Other grants and donations
Cambs Family History Society
Donations in mem. Mike Delanoy
Gift Aid tax refunded
Easyfundraising / Amazon Smile
Heritage Lottery Emergency Fund
Collections review and rationalisation
Cambridgeshire CC small grants fund
TOTAL		 Unrestricted
£
-
8,500
5,768
6,000
833
964
-
-
1,087
97
-
-
-
23,249		 Restricted
£
-
-
-
-
-
-
-
-
-
-
2,957
1,450
4,407		 TOTAL
-
8,500
5,768
6,000
833
964
-
-
1,087
97
-
2,957
1,450
27,656		 2020
£
10,000
8,500
7,149
6,000
5,825
1,208
1,000
645
327
66
28,600
-
-
69,320

3 CHARITABLE ACTIVITIES

English Heritage Management Agreement
Income from admissions
Educational visits
Groups visits
Loan box		 2021
£
16,000
16,308
1,295
521
75
34,199		 2020
£
16,000
-
261
(24)
-
16,237

4 OTHER TRADING ACTIVITIES

Shop income
Café income
Bookshop
Hire of site
Sundry income		 2021
£
6,990
30,438
602
581
101
38,712		 2020
£
2,587
-
-
417
200
3,204

5 INVESTMENT INCOME

INVESTMENT INCOME
2021 2020
£ £
Deposit account interest 4 29

These notes form part of the statutory financial statements

Page 12

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

6 PURCHASES

Shop purchases
Café purchases
Event costs		 2021
£
3,022
9,704
1,738
14,464		 2020
£
1,370
(6)
6
1,370

7

NET INCOME /(EXPENDITURE)

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

2021 2020
£ £
Depreciation - owned assets (Note 11) 8,088 8,557

8

EXPENDITURE

Purchases
Staff costs
Administration
Depreciation
TOTAL		 Cost of
raising funds
£
14,464
17,020
-
993
32,477		 Charitable
activities
£
-
25,232
32,612
7,095
64,939		 TOTAL
£
14,464
42,252
32,612
8,088
97,416		 TOTAL
2020
£
1,370
28,593
18,606
8,557
57,126

9 TRUSTEES’ AND KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees’ expenses

No trustee expenses were paid during 2021 (2020: £nil).

Key management personnel

The key management personnel of the charity comprise the Trustees and The Museum Manager. Total employee benefits of the Museum Manager totalled £12,922 (2020: total of two posts £22,381).

These notes form part of the statutory financial statements

Page 13

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

10 STAFF COSTS AND NUMBERS

Total staff costs were as follows:

STAFF COSTS AND NUMBERS
Total staff costs were as follows:
Museum
VSAs
Café
Pension costs (NEST)		 2021
£
21,200
6,018
14,011
41,229
1,022
42,252		 2020
£
22,381
3,922
1,619
27,922
671
28,593

No employee received emoluments of more than £60,000

The average number of employees (FTE) during the year was as follows

Museum
VSAs (seasonal)
Café (seasonal)		 2021
2
1
1
4		 2020
2
1
1
4

11 TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Additions
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for the year
At 31 December 2021
NET BOOK VALUE
at 31 December 2021
at 31 December 2020		 Freehold
property

£
340,580
-
340,580
149,800
6,384
156,184
184,396
190,780		 Plant and
machinery
£
76,256
-
76,256
75,853
101
75,954
302
403		 Fixtures
and
fittings

£
62,569
300
62,869
56,455
1,603
58,058
4,811
6,114		 Totals
£
479,405
300
479,705
282,108
8,088
290,196
189,509
197,297

These notes form part of the statutory financial statements

Page 14

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

12 STOCKS

Gift shop stock
Café stock
TOTAL stock		 2021
£
1,297
431
1,728		 2020
£
1,173
-
1,173

13 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
275
-
6,739
7,014		 2020
£
5,782
-
6,684
12,466

14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Pension liability (NEST)
LGPS creditor
Accruals and deferred income		 2021
£
5,361
474
183
1,200
3,048
10,266		 2020
£
5,012
127
142
1,200
2,841
9,322

15 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Interest-free loan (>5 years)
LGPS creditor (1-5 years)
LGPS creditor (>5 years)		 2021
£
9,500
4,800
41,400
55,700		 2020
£
12,500
4,800
43,200
60,500

The interest-free loan has been advanced by a supporter of the Museum to assist with cash flow. The lender has indicated that there are no specific repayment terms and that the loan is only repayable once the Museum’s cash flow permits.

Agreement has been reached with the Local Government Pension Scheme on a staged repayment of the Museum’s pension liabilities. The amount shown represents the instalments due from 2023 onwards.

These notes form part of the statutory financial statements

Page 15

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

16 MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated development fund
Designated fixed asset fund
Restricted funds
Freehold property fund
Collections Review and Rationalisation
Tracing Traditions
HLEF
Forward planning
Play area
Music project
Miscellaneous restricted
TOTAL FUNDS		 At 1
January
2021
£
(28,378)
-
66,688
38,310
129,428
-
663
3,247
960
1,181
153
100
135,732
174,042		 Net
movement
in funds
£
14,659
-
(3,501)
11,158
(4,292)
-
(610)
(2,806)
-
(295)
-
-
(8,003)
3,155		 Transfers
between
funds
£
(10,300)
10,000
300
-
-
-
-
-
-
-
-
-
-
-		 At 31
December
2021
£
(24,019)
10,000
63,487
49,468
125,136
-
53
441
960
886
153
100
127,729
177,197

Net movement in funds, included in the above, are as follows:

Unrestricted funds
General fund
Designated development fund
Designated fixed asset fund
Restricted funds
Freehold property fund
Collections Review and Rationalisation
Tracing Traditions
HLEF
Forward planning
Play area
Music project
Miscellaneous restricted
TOTAL FUNDS		 Incoming
resources
£
96,164
-
-
96,164
-
2,957
-
-
-
-
-
1,450
4,407
100,571		 Resources
expended
£
(81,505)
-
(3,501)
(85,006)
(4,292)
(2,957)
(610)
(2,806)
-
(295)
-
(1,450)
(12,410)
(97,416)		 Movement
in funds
£
14,659
-
(3,501)
11,158
(4,292)
-
(610)
(2,806)
-
(295)
-
-
(8,003)
3,155

These notes form part of the statutory financial statements

Page 16

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Designated funds

Development Fund: The Trustees have agreed to designate the sum of £10,000 for future development of the Museum. The initial balance comes via a transfer from the General Fund

Fixed Assets Fund : This is the fund representing the amount of the charity funds locked up in fixed asset equipment which is needed for operational purposes.

Restricted funds

Freehold Property Fund : This fund holds the freehold land which was donated on inception of the Charity. The donation restricts the use of the land to be for the museum.

Collections review and rationalisation: This was a grant to enable the Museum to improve its records relating to its collections.

Tracing Traditions Fund : This represents the Museum’s contribution to the Tracing Traditions project run by the Museum of Cambridge in partnership with a group of local independent museums.

HLEF Fund : This was a grant received from the Heritage Lottery Emergency Fund to assist the Museum deal with the effects of COVID-19. Most of the grant was spent during the year but a balance will, in accordance with the grant conditions, be spent in 2021.

The Forward Planning fund : This was a SHARE grant to assist the Museum’s Forward Planning

Play Area Fund : Grants were received during 2012 for the installation of a Children's Play Area. The balance of this fund represents the total cost of the Play Area less depreciation. The fixed assets will remain in this fund and depreciation will be charged to it annually.

Music Project Fund : This is funds received for the production of a music CD of farming songs.

Miscellaneous Restricted Funds : This fund holds small grants which have been received for use on a specific purpose but are not considered large enough to report individually.

Transfers between funds

Transfers were made between funds to adjust some balances due to reorganisation of the fixed asset register. In addition some purchases charged to the Unrestricted fund were transferred to the Designated fixed asset fund.

These notes form part of the statutory financial statements

Page 17

THE FARMLAND MUSEUM ((Company number 01808079) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

17 ANALYSIS OF ASSETS BETWEEN FUNDS

Unrestricted funds
General fund
Designated funds
Restricted funds
Freehold property fund
Tracing Traditions
Forward planning
HLEF
Play area
Music project
Miscellaneous restricted
TOTAL FUNDS		 Fixed
assets
£
-
63,487
63,487
125,136
-
-
-
886
-
-
126,022
189,509		 Current
assets /
(liabilities)
£
31,681
10,000
41,681
-
53
960
441
-
153
100
1,707
43,388		 Longer
term
liabilities
and
provisions
£
(55,700)
-
(55,700)
-
-
-
-
-
-
-
-
(55,700)		 Total
Funds
2021
£
(24,019)
73,487
49,468
125,136
53
960
441
886
153
100
127,729
177,197		 Total
funds
2020
£
(28,378)
66,688
38,310
129,428
663
960
3,247
1,181
153
100
135,732
174,042

18 RELATED PARTY DISCLOSURES

As noted in the Trustees’ report, South Cambridgeshire District Council is a related party by virtue of Councillor Anna Bradnam attending trustees’ meetings. The Museum received a grant of £8,500 from the Council during the year.

19 INDEPENDENT EXAMINER’S FEES

The Independent Examiner’s Fee in respect of the examination was £1,010 plus VAT.

These notes form part of the statutory financial statements

Page 18