OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-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 2022

FOR

THE FARMLAND MUSEUM

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

THE FARMLAND MUSEUM

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 18
Detailed Statement of Financial Activities 19 to 20

THE FARMLAND MUSEUM

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022. 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

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.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The museum has had another successful year since the end of the pandemic. Visitor numbers are up, income is up, in particular from the café, and our feedback from visitors is very positive.

Our septic tank has reached the end of its life, and we have secured funding from the Cambridge Community Foundation for replacement, signage and landscaping. Unfortunately, we learnt that there will be no renewal of our annual grant from South Cambridgeshire as this money has been reallocated to other expenditure in the community. This means that next April, we will not get the £8,500 per annum that we have received for the last three years.

Staff hours have been slightly increased to cope with the workload, but the extra cost is more than compensated by the café income. Additional staff time is required for holiday cover and busy event days in the café.

A volunteer recruitment project, funded by Share East, is underway, and a consultant is helping us with this. The education team has doubled in size and we have a retired head teacher now running our schools sessions.

We have had a number of summer exhibitions, events and children's activities which have proved popular and successful, but a series of winter events proved less so and will not be repeated.

We look forward to another great year in 2023.

Visitor numbers Visitor numbers
Month 2017 2018 2019 2020 2021 2022
March - - - - - 430
April 1,399 1,231 1,442 covid 200 1,613
May 1,270 1,225 1,412 covid 581 1,377
June 1,021 774 845 covid 781 1,369
July 1,432 1,024 869 covid 985 1,391
August 2,119 1,713 1,714 481 2,375 2,439
September 1,025 811 765 975 1,031 1,465
October 1,204 865 753 943 1,004 1,168
Total 9,470 7,643 7,800 2,399 6,954 11,252

Page 1

THE FARMLAND MUSEUM

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

Financial position

The Museum activities have now settled down to comparative normality after the COVID pandemic.

Comparative figures show a significant growth in income from 2021, with the café being a significant contributor. During the year the Museum received a donation of £30,000 which has been credited, after consultation with the donor who wishes to remain anonymous, to the Designated Development Fund.

At the year end, the General Fund showed a deficit of £9,472 compared to a deficit of £24,022 at the end of 2021. This negative balance takes into account longer term creditors, and the unrestricted net current asset position is £85,253 (2021: 41,681). This is higher than the figure that the Trustees have considered in their reserves policy (see below), but because the grant from South Cambridgeshire District Council has been withdrawn for 2023 and subsequent years, the Trustees feel that retaining this higher balance is prudent.

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 and income is effectively zero. As noted above, at the end of 2022, the net current assets total in the General Fund was equivalent to 4.8 months’ expenditure which comfortably covers this.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited 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.

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.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01808079 (England and Wales)

Registered Charity number

289555

Page 2

THE FARMLAND MUSEUM

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Registered office

Denny Abbey Ely Road Waterbeach CAMBRIDGE Cambridgeshire CB25 9PQ

Trustees

S G Archer Chairman Ms C A Hunt Nurse Ms V Atkinson Operations Manager Dr F M Macmillan Member Networks Manager M A Peirson Retail And Admission Manager Ms H M Phillips Proofreader S O Venn Development Director Dr R M Williamson Retired Dr J R Williamson Retired

South Cambridgeshire District Council Representative

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

Company Secretary

Independent Examiner Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH

Bankers Barclays Bank plc 28 High Street ELY Cambridgeshire CB7 4LA Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... S G Archer - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FARMLAND MUSEUM

Independent examiner's report to the trustees of The Farmland Museum ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

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

  2. 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

  3. 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.

Matthew Pettifer FCA

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

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

Page 4

THE FARMLAND MUSEUM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
50,610
Charitable activities
5
Museum
42,201
Other trading activities
3
66,099
Investment income
4
612
Total
159,522
EXPENDITURE ON
Raising funds
6
26,385
Charitable activities
Museum
90,897
Total
117,282
NET INCOME
42,240
Transfers between funds
16
442
Net movement in funds
42,682
RECONCILIATION OF FUNDS
Total funds brought forward
49,467
TOTAL FUNDS CARRIED FORWARD
92,149		 Restricted
funds
£
18,608
-
-
-
18,608
-
12,564
12,564
6,044
(442)
5,602
127,731
133,333		 2022
Total
funds
£
69,218
42,201
66,099
612
178,130
26,385
103,461
129,846
48,284
-
48,284
177,198
225,482		 2021
Total
funds
£
27,656
34,124
38,787
4
100,571
16,548
80,869
97,417
3,154
-
3,154
174,044
177,198

The notes form part of these financial statements

Page 5

THE FARMLAND MUSEUM

BALANCE SHEET 31 DECEMBER 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
61,396
CURRENT ASSETS
Stocks
12
3,889
Debtors
13
10,919
Cash at bank
84,328
99,136
CREDITORS
Amounts falling due within one year
14
(13,883)
NET CURRENT ASSETS
85,253
TOTAL ASSETS LESS CURRENT
LIABILITIES
146,649
CREDITORS
Amounts falling due after more than one year
15
(54,500)
NET ASSETS
92,149
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
121,635
-
-
11,698
11,698
-
11,698
133,333
-
133,333		 2022
Total
funds
£
183,031
3,889
10,919
96,026
110,834
(13,883)
96,951
279,982
(54,500)
225,482
92,149
133,333
225,482		 2021
Total
funds
£
189,509
1,728
7,014
44,913
53,655
(10,266)
43,389
232,898
(55,700)
177,198
49,467
127,731
177,198

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

THE FARMLAND MUSEUM

BALANCE SHEET - continued 31 DECEMBER 2022

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 G Archer - Trustee

The notes form part of these financial statements

Page 7

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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.

The accounts have been prepared on a going concern basis. The charity is heavily dependent on income from relatively few funders together with admission 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 installments 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.

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.

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.

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.

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.

Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance

continued...

Page 8

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits

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.

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 of the opening of the deposit.

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.

Creditors

Creditors are recognised where 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.

2. DONATIONS AND LEGACIES

Donations
Grants		 2022
£
36,110
33,108
69,218		 2021
£
7,916
19,740
27,656

continued...

Page 9

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

South Cambridgeshire District Council
Heritage Lottery Fund
Cambridgeshire County Council
Covid Job Retention Support
Fossey Trust
Cambs Community Foundation
3.
OTHER TRADING ACTIVITIES
Shop income
Bookshop income
Cafe Income
Hire of Site
Sundry income
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Admissions
Museum
School & course fees
Museum
EH management agreement
Museum		 2022
£
8,500
-
1,151
-
6,000
17,457
33,108
2022
£
8,986
948
55,079
567
519
66,099
2022
£
612
2022
£
19,238
3,203
19,760
42,201		 2021
£
8,500
2,957
1,450
833
6,000
-
19,740
2021
£
6,990
602
30,438
581
176
38,787
2021
£
4
2021
£
16,308
1,816
16,000
34,124

continued...

Page 10

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

6. RAISING FUNDS

Other trading activities

7.

Bad debts
Shop stock
Cafe stock & costs
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2022
£
425
4,591
21,369
26,385
2022
£
8,055		 2021
£
-
3,022
13,526
16,548
2021
£
8,088

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Museum
Cafe
VSA		 2022
£
53,905
1,414
55,319
2022
2
3
1
6		 2021
£
41,229
1,022
42,251
2021
2
1
1
4

No employees received emoluments in excess of £60,000.

The key management personnel of the charity comprise the Trustees and the Museum Manager. Total employee benefits of the Museum Manager totalled £16,345 (2021: total of two posts £12,922).

continued...

Page 11

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
23,249
Charitable activities
Museum
34,124
Other trading activities
38,787
Investment income
4
Total
96,164
EXPENDITURE ON
Raising funds
16,478
Charitable activities
Museum
68,530
Total
85,008
NET INCOME/(EXPENDITURE)
11,156
RECONCILIATION OF FUNDS
Total funds brought forward
38,311
TOTAL FUNDS CARRIED FORWARD
49,467		 Restricted
funds
£
4,407
-
-
-
4,407
70
12,339
12,409
(8,002)
135,733
127,731		 Total
funds
£
27,656
34,124
38,787
4
100,571
16,548
80,869
97,417
3,154
174,044
177,198

continued...

Page 12

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

11. TANGIBLE FIXED ASSETS

Freehold
Plant and
property
machinery
£
£
COST
At 1 January 2022
340,580
76,256
Additions
-
-
At 31 December 2022
340,580
76,256
DEPRECIATION
At 1 January 2022
156,184
75,954
Charge for year
6,383
76
At 31 December 2022
162,567
76,030
NET BOOK VALUE
At 31 December 2022
178,013
226
At 31 December 2021
184,396
302
12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 Fixtures
and
fittings
£
62,868
1,577
64,445
58,057
1,596
59,653
4,792
4,811
2022
£
3,889
2022
£
651
10,268
10,919		 Totals
£
479,704
1,577		 Totals
£
479,704
1,577		 Totals
£
479,704
1,577
481,281
290,195
8,055
298,250
183,031
189,509
2021
£
1,728
2021
£
275
6,739
7,014

continued...

Page 13

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
LGPS creditor
Accruals and deferred income		 2022
£
1,227
10,061
1,200
1,395
13,883		 2021
£
474
5,544
1,200
3,048
10,266

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

LGPS creditor (1-5 years)
Other creditors
LGPS creditor (>5 years)		 2022
£
4,800
9,500
40,200
54,500		 2021
£
4,800
9,500
41,400
55,700

Other creditors of £9,500 comprise of an 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.

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated funds
Museum development
Restricted funds
Freehold Property Fund
English Heritage
Miscellaneous restricted
Play area
Music project
Forward planning
Tracing traditions
Feasibility study
TOTAL FUNDS		 At 1/1/22
£
(24,022)
63,489
10,000
49,467
125,136
442
100
885
155
960
53
-
127,731
177,198		 Net
movement
in funds
£
15,685
(3,670)
30,225
42,240
(4,166)
-
-
(220)
-
-
-
10,430
6,044
48,284		 Transfers
between
funds
£
(1,135)
1,577
-
442
-
(442)
-
-
-
-
-
-
(442)
-		 At
31/12/22
£
(9,472)
61,396
40,225
92,149
120,970
-
100
665
155
960
53
10,430
133,333
225,482

continued...

Page 14

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Designated funds
Museum development
Restricted funds
Freehold Property Fund
Miscellaneous restricted
Play area
Feasibility study
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Designated funds
Museum development
Restricted funds
Freehold Property Fund
English Heritage
Miscellaneous restricted
Play area
Music project
Forward planning
Tracing traditions
TOTAL FUNDS		 At 1/1/21
£
(28,378)
66,689
-
38,311
129,428
3,247
100
1,181
154
960
663
135,733
174,044		 Incoming
resources
£
129,297
-
30,225
159,522
-
1,151
-
17,457
18,608
178,130
Net
movement
in funds
£
14,658
(3,502)
-
11,156
(4,292)
(2,805)
-
(295)
-
-
(610)
(8,002)
3,154		 Resources
Movement
expended
in funds
£
£
(113,612)
15,685
(3,670)
(3,670)
-
30,225
(117,282)
42,240
(4,166)
(4,166)
(1,151)
-
(220)
(220)
(7,027)
10,430
(12,564)
6,044
(129,846)
48,284
Transfers
between
At
funds
31/12/21
£
£
(10,300)
(24,020)
300
63,487
10,000
10,000
-
49,467
-
125,136
-
442
-
100
-
886
-
154
-
960
-
53
-
127,731
-
177,198

Page 15

continued...

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Designated funds
Restricted funds
Freehold Property Fund
English Heritage
Miscellaneous restricted
Play area
Tracing traditions
Collections review and rationalisation
TOTAL FUNDS		 Incoming
resources
£
96,164
-
96,164
-
-
1,450
-
-
2,957
4,407
100,571		 Resources
Movement
expended
in funds
£
£
(81,506)
14,658
(3,502)
(3,502)
(85,008)
11,156
(4,292)
(4,292)
(2,805)
(2,805)
(1,450)
-
(295)
(295)
(610)
(610)
(2,957)
-
(12,409)
(8,002)
(97,417)
3,154

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

Unrestricted funds
General fund
Designated funds
Museum development
Restricted funds
Freehold Property Fund
English Heritage
Miscellaneous restricted
Play area
Music project
Forward planning
Tracing traditions
Feasibility study
TOTAL FUNDS		 At 1/1/21
£
(28,378)
66,689
-
38,311
129,428
3,247
100
1,181
154
960
663
-
135,733
174,044		 Net
movement
in funds
£
30,343
(7,172)
30,225
53,396
(8,458)
(2,805)
-
(515)
-
-
(610)
10,430
(1,958)
51,438		 Transfers
between
funds
£
(11,435)
1,877
10,000
442
-
(442)
-
-
-
-
-
-
(442)
-		 At
31/12/22
£
(9,470)
61,394
40,225
92,149
120,970
-
100
666
154
960
53
10,430
133,333
225,482

Page 16

continued...

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. 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
Designated funds
Museum development
Restricted funds
Freehold Property Fund
English Heritage
Miscellaneous restricted
Play area
Tracing traditions
Collections review and rationalisation
Feasibility study
TOTAL FUNDS		 Incoming
resources
£
225,461
-
30,225
255,686
-
-
2,601
-
-
2,957
17,457
23,015
278,701		 Resources
Movement
expended
in funds
£
£
(195,118)
30,343
(7,172)
(7,172)
-
30,225
(202,290)
53,396
(8,458)
(8,458)
(2,805)
(2,805)
(2,601)
-
(515)
(515)
(610)
(610)
(2,957)
-
(7,027)
10,430
(24,973)
(1,958)
(227,263)
51,438

Designated funds

Development fund: The Trustees agreed last year to designate the sum of £10,000 for future development of the Museum. In addition, a donation of £30,000 was received during the year which the donor indicated should be added to the designated balance. Both contributions are held in a CCLA deposit account where the interest is credited to the fund.

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

Restricted funds

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

Feasibility study fund: A grant from Cambridgeshire Community Foundation to identify options for expanding and updating key buildings on the site that are no longer fit for purpose and to increase facilities to better serve the local and wider communities.

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 has been and the small balance brought forward has been transferred to the General Fund to cover overheads which were incurred in the past but not directly charged to the fund.

continued...

Page 17

THE FARMLAND MUSEUM

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. MOVEMENT IN FUNDS - continued

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 costs of the Play Area less depreciation. The fixed assets will remain in this fund and depreciation with be charged to it annually.

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

Miscellaneous Restricted fund: 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 fixed asset register. In addition some purchases charged to the Unrestricted fund were transfered to the Designated fixed asset fund.

A transfer of £442 was made from the HLEF fund to the general fund to cover overheads which were incurred but not directly charged to the fund.

17. 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.

18. INDEPENDENT EXAMINER'S FEES

The Independent Examiner's Fee in respect of the examination was £1,125 plus VAT.

Page 18

THE FARMLAND MUSEUM

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Shop income
Bookshop income
Cafe Income
Hire of Site
Sundry income
Investment income
Deposit account interest
Charitable activities
Admissions
School & course fees
EH management agreement
Total incoming resources
EXPENDITURE
Other trading activities
Bad debts
Shop stock
Cafe stock & costs
Charitable activities
Wages
Pensions
Water
Insurance
Light and heat
Telephone
Carried forward		 2022
£
36,110
33,108
69,218
8,986
948
55,079
567
519
66,099
612
19,238
3,203
19,760
42,201
178,130
425
4,591
21,369
26,385
53,905
1,414
8,087
2,717
4,728
970
71,821		 2021
£
7,916
19,740
27,656
6,990
602
30,438
581
176
38,787
4
16,308
1,816
16,000
34,124
100,571
-
3,022
13,526
16,548
41,229
1,022
1,199
2,491
3,485
96
49,522

This page does not form part of the statutory financial statements

Page 19

THE FARMLAND MUSEUM

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Charitable activities
Brought forward
Postage and stationery
Advertising
Sundries
Event Costs
Consultancy
Travel & subsistence
Property repairs & maintenance
Books, research & training
Publicity & advertising
Copier costs
Depreciation of tangible fixed assets
Support costs
Finance
Bank charges
Governance costs
Accountancy fees
Total resources expended
Net income		 2022
£
71,821
959
274
186
1,064
7,027
-
8,505
220
1,313
1,152
8,056
100,577
1,534
1,350
129,846
48,284		 2021
£
49,522
731
160
347
1,738
1,397
44
13,780
396
1,316
1,108
8,089
78,628
993
1,248
97,417
3,154

This page does not form part of the statutory financial statements

Page 20