**Charity Registration No. 290431**
**Company Registration No. 01831269 (England and Wales)**
## **Burwell Museum Trust Limited**
**Annual report and unaudited financial statements**
**For the year ended 31 October 2020**
## **BURWELL MUSEUM TRUST LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Directors**|K Brooking||
|---|---|---|
||M Fullick|(Appointed 12 March 2020)|
||S Heath||
||D Ryan||
||B Wilson||
|**Secretary**|B Wilson||
|**Charity number**|290431||
|**Company number**|01831269||
|**Registered office**|Elstree House||
||Watson's Yard||
||High Street||
||Cottenham||
||Cambridge||
||CB24 8RX||
|**Independent examiner**|The MHH Partnership||
||Elstree House||
||Watson's Yard||
||High Street||
||Cottenham||
||Cambridge||
||CB24 8RX||
## **BURWELL MUSEUM TRUST LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 15|
## **BURWELL MUSEUM TRUST LIMITED**
## **DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
The Directors present their report and financial statements for the year ended 31 October 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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**
By the provision of a Museum, the objective of the company is, as previously, to promote the advancement of the education of people in the Burwell area, as well as children attending local schools. As in previous years the museum was opened to the public on selected days throughout the summer, and also opened on days when local schools or other interested societies requested. Having regard to the results for the year the directors consider the company's objectives have been satisfactorily achieved and the financial performance and year end position to be satisfactory. The policies adopted in furtherance of these objects are available at the museum and there has been no change in these during the year.
The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities Burwell Museum Trust should undertake.
The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **In 2020…**
It was, of course, a very odd year due to the coronavirus crisis. The museum was shut completely from March 2020, opening again for volunteers in June and to the public, with very limited opening hours, in August. Many volunteers have had to stay away from the museum to protect their own health or that of their families, and we are grateful to them for their continued support from a distance. We are also grateful to those volunteers who have continued to maintain the museum and mill, the trustees who have made some difficult decisions, and everyone who has got to grips with new rules and regulations. We had 867 visitors, a long way down from 3486 last year and 3814 in 2018 as would be expected given that we were unable to run for most of the year. No formal evaluation was carried out but visitors were overwhelmingly positive about the fact that we were open and happy with the limited service we were offering.
## **Volunteer work**
Almost 1600 hours of volunteering were logged in 2020, despite the long break– many thanks for signing in and out! Work done in 2020 has included:
- Mill maintenance including making the mill safe to leave and work on the fantail and sails
- Site maintenance including painting buildings, ploughs and doors, general maintenance of lawns
- Vintage vehicles work restoring an invalid carriage and other artefacts
- Exhibition on Burwell shops
- Photo digitisation, collections work and cataloguing of Clunch magazines
- Checking temperature, humidity and pest levels
- Cleaning
- Front of house – kiosk and event
- School and group visits and outreach, including virtual sessions on Zoom
- 1 -
## **BURWELL MUSEUM TRUST LIMITED**
## **DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
**Events Last year This year**
Heritage Open Days 297 visitors 177 visitors
All other events were cancelled this year, so comparisons will have to wait until next year or potentially beyond.
## **Funded projects**
Business support grant to cover costs of crisis, East Cambridgeshire District Council: £25,000
Grant from Cambridgeshire and Huntingdonshire Family History Society: £1000
Grant from John Lewis towards path project (ongoing): £4000
## **Plans for the winter (much the same as last winter, alas; we have made some progress this year but not very much!)**
Refurbishing some of the outside objects and providing better signage
Purchase of one or two large sheds to replace the old wooden ones and provide more storage and work space
Work on the mill towards replacing the fantail and work on cleaning and refitting the shutters
Building of a new path to the mill to improve access (we now have planning permission for this)
Working through the museum archive and filing cabinets
Tidy up including sheds, workshop and builders store
Research and begin project to add a new bay to the vintage vehicles gallery
## **Aims for the next three years (from the Forward Plan)**
A. Make the museum easier to maintain and run
B. Increase visitor numbers and create closer links with the school and other community groups
C. Generate enough income to keep the museum running without regular grant funding
D. Continue to record, protect and improve our collections
E. Generate funding for the continued upkeep of the mill as a working mill (the first part of this was to celebrate the 200th anniversary in 2020, which we have done although not as we would have hoped to!)
## **Financial review**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Directors considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Directors have assessed the major risks to which Burwell Museum Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
- 2 -
## **BURWELL MUSEUM TRUST LIMITED**
## **DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Directors considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Directors has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
Burwell Museum Trust is a company limited by guarantee.
The Directors who served during the year and up to the date of signature of the financial statements were: K Brooking
M Fullick (Appointed 12 March 2020) S Heath D Ryan B Wilson T Underwood (Resigned 26 November 2019) A Verney (Resigned 1 January 2020)
Trustees are recruited by advertisement around the village and on museum websites and are appointed by agreement of the existing trustees.None of the Directors has any beneficial interest in the company. All of the Directors are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to 0 day's purchases, based on the average daily amount invoiced by suppliers during the year.
Burwell Museum Trust is run by the trustees, who appoint two part-time members of staff (one administrator and education officer and one Sunday museum assistant for the open season). The trustees and staff manage a group of 70 volunteers to ensure the day-to-day maintenance and running of the museum.
The Directors' r eport was approved by the Board of Directors.
.............................. **B Wilson** Director Dated: .........................
- 3 -
## **BURWELL MUSEUM TRUST LIMITED**
## **INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF BURWELL MUSEUM TRUST LIMITED**
I report to the Directors on my examination of the financial statements of Burwell Museum Trust Limited (the charity) for the year ended 31 October 2020.
## **Responsibilities and basis of report**
As the Directors of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
The MHH Partnership
Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX
Dated: .........................
- 4 -
## **BURWELL MUSEUM TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
78,204
5,000
Charitable activities
**4**
1,456
-
Other trading activities
**5**
-
169
Investments
**6**
45
-
**Total income**
79,705
5,169
**Expenditure on:**
Charitable activities
**7**
19,198
11,236
**Net incoming/(outgoing)**
**resources before**
**transfers**
60,507
(6,067)
Gross transfers between
funds
(400)
400
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
60,107
(5,667)
Fund balances at 1
November 2019
As originally reported
_24,798_
_467,238_
Prior year adjustment
_(13,280)_
_-_
As restated
11,518
467,238
**Fund balances at 31**
**October 2020**
58,345
461,571|**Total**
Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
83,204
6,558
4,509
1,456
10,610
1,400
169
261
-
45
26
-
84,874
17,455
5,909
30,434
24,322
16,186
54,440
(6,867)
(10,277)
-
16,625
(16,625)
54,440
9,758
(26,902)
_478,756_
_1,760_
_494,140_
_(13,280)_
_-_
_-_
465,476
1,760
494,140
519,916
11,518
467,238|Total
2019
**£**
11,067
12,010
261
26
23,364
40,508
(17,144)
-
(17,144)
_495,900_
_-_
495,900
478,756|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **BURWELL MUSEUM TRUST LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Stocks
**11**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**14**
Unrestricted funds|**2020**
**£**
200
1,107
68,428
69,735
(954)|**£**
451,135
68,781
519,916
461,571
58,345
519,916|**2019**
**£**
200
1,104
14,616
15,920
(954)|**£**
463,790
14,966
478,756
467,238
11,518
478,756|
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2020.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Directors on .........................
.............................. D Ryan **Trustee**
## **Company Registration No. 01831269**
- 6 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **1 Accounting policies**
## **Charity information**
Burwell Museum Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Elstree House, Watson's Yard, High Street, Cottenham, Cambridge, CB24 8RX.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
- 7 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 1% on cost Leasehold land and buildings 1% on cost Plant and equipment 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
**BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
Donations and gifts
3,204
5,000
Grant income
75,000
-
78,204
5,000|**Total**
Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
£
£
8,204
5,258
1,087
75,000
1,300
3,422
83,204
6,558
4,509|Total
2019
£
6,345
4,722|
|---|---|---|
|||11,067|
A grant of £1,000 was received from Tesco which was for the provision of school work. This has been included in unrestricted funds as this is where the consultancy costs are on an ongoing basis and is not deemed to be restrictive.
- 9 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **4 Charitable activities**
||**Burwell**|**Burwell**|
|---|---|---|
||**Museum**|**Museum**|
||**2020**|**2019**|
||**£**|**£**|
|Sales within charitable activities|1,456|12,010|
|Analysis by fund|||
|Unrestricted funds|1,456|10,610|
|Restricted funds|-|1,400|
## **5 Other trading activities**
||**Restricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Fundraising events|169|261|
|**Investments**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Interest receivable|45|26|
## **6 Investments**
- 10 -
**BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **7 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Expenditure**|**Expenditure**|
||**Heading 1**|**Heading 1**|
||**2020**|**2019**|
||**£**|**£**|
|Depreciation and impairment|9,671|13,280|
|Purchases|328|277|
|Training and research|1,440|20|
|Educational materials|-|702|
|Water rates|136|556|
|Insurance|698|260|
|Light and heat|2,212|2,629|
|Repairs and maintenance|1,538|2,164|
|Printing, photography, postage and stationery|1,721|5,821|
|Telephone & Internet|97|537|
|Bank charges|-|454|
|Consultancy fees|8,820|9,401|
|General expenses|1,084|122|
|Subscriptions|62|135|
|Advertising and marketing|273|276|
|CIO advice|1,400|2,906|
||29,480|39,540|
|Share of governance costs (see note )|954|968|
||30,434|40,508|
|**Analysis by fund**|||
|Unrestricted funds|19,198|24,322|
|Restricted funds|11,236|16,186|
||30,434|40,508|
## **8 Directors**
None of the Directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 11 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **9 Employees**
The average monthly number of employees during the year was:
|||||**2020**|**2019**|
|---|---|---|---|---|---|
|||||**Number**|**Number**|
||Total|||-|-|
|**10**|**Tangible fixed assets**|||||
|||**Freehold land**|**Leasehold land**|**Plant and**|**Total**|
|||**and buildings**|**and buildings**|**equipment**||
|||**£**|**£**|**£**|**£**|
||**Cost**|||||
||At 1 November 2019|268,120|237,150|100,106|605,376|
||Additions|8,603|-|1,694|10,297|
||At 31 October 2020|276,723|237,150|101,800|615,673|
||**Depreciation and impairment**|||||
||At 1 November 2019|22,509|48,652|83,706|154,867|
||Depreciation charged in the year|2,764|2,369|4,538|9,671|
||At 31 October 2020|25,273|51,021|88,244|164,538|
||**Carrying amount**|||||
||At 31 October 2020|251,450|186,129|13,556|451,135|
||At 31 October 2019|248,289|190,867|24,634|463,790|
|**11**|**Stocks**|||||
|||||**2020**|**2019**|
|||||**£**|**£**|
||Finished goods and goods for resale|||200|200|
|**12**|**Debtors**|||||
|||||**2020**|**2019**|
||**Amounts falling due within one year:**|||**£**|**£**|
||Prepayments and accrued income|||1,107|1,104|
- 12 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
|**13**|**Creditors: amounts falling due within one year**|||
|---|---|---|---|
|||**2020**|**2019**|
|||**£**|**£**|
||Accruals and deferred income|954|954|
- 13 -
## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
## **14 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 November**
**2018**
**£**
Collection fund
30,352
Restoration fund
-
Trustees Project
-
Co Op grant
-
Leasehold buildings
190,867
Freehold buildings
248,288
Other buildings and equipment
24,633
John Lewis Grant
-
CIO application
-
494,140|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
1,087
(1,238)
500
(475)
900
(1,193)
3,422
-
-
(2,369)
-
(2,678)
-
(8,233)
-
-
-
-
5,909
(16,186)|**Transfers**
**Balance at**
**1 November**
**2019**
**£**
**£**
(16,918)
13,283
-
25
293
-
-
3,422
-
188,498
-
245,610
-
16,400
-
-
-
-
(16,625)
467,238|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
169
(166)
-
-
-
-
-
-
-
(2,369)
-
(2,764)
-
(4,538)
4,000
-
1,000
(1,400)
5,169
(11,237)|**Transfers**
**Balance at**
**31 October 2020**
**£**
**£**
-
13,287
-
25
-
-
-
3,422
-
186,129
-
242,846
-
11,862
-
4,000
400
-
400
461,571|
|---|---|---|---|---|
## **Collection fund**
Over a number of years, the balance shown on the collection fund was incorrect resulting in a discrepancy in the accounts between the restricted and general funds. We have put through a balance of £16,918 to bring the general funds back to where they should be, compared to the assets available.
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## **BURWELL MUSEUM TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2020**_
|**15**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2020**
**2020**
**£**
**£**
Fund balances at 31
October 2020 are
represented by:
Tangible assets
-
451,135
Current assets/(liabilities)
58,345
10,436
58,345
461,571|**Total**
Unrestricted
funds
Restricted
funds
**2020**
2019
2019
**£**
£
£
451,135
-
463,790
68,781
11,518
3,448
519,916
11,518
467,238|Total
2019
£
463,790
14,966|
|---|---|---|
|||478,756|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
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