**Charity Registration No. 290431**
**Company Registration No. 01831269 (England and Wales)**
## **Burwell Museum Trust**
**Annual report and unaudited financial statements For the 14 month period ended 31 December 2022**
## **BURWELL MUSEUM TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|K Brooking||
|---|---|---|
||S Heath||
||D Ryan||
||B Wilson||
||Mr M Browne|(Appointed 1 May 2022)|
||Ms S J Ganiford|(Appointed 1 May 2022)|
||Ms S C Phipps|(Appointed 1 May 2022)|
||Ms V L Dolphin||
|**Secretary**|B Wilson||
|**Charity number**|290431||
|**Company number**|01831269||
|**Registered office**|Elstree House||
||Watson's Yard||
||High Street||
||Cottenham||
||Cambridge||
||CB24 8RX||
|**Independent examiner**|Hayden Watson||
||Elstree House||
||Watson's Yard||
||High Street||
||Cottenham||
||Cambridge||
||CB24 8RX||
## **BURWELL MUSEUM TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' 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**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
The Trustees present their annual report and financial statements for the 14 Month Period ended 31 December 2022.
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 Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **In 2022…**
This year we opened with an intention to return to pre covid objectives and operation . Certainly when it comes to opening days / hours /provision of staff and visitor experience . There were est.4000 visitors during the year as a program of events and activities was pursued to continue recovery. Very little formal evaluation was carried out but visitors were overwhelmingly positive about the opening days , the activities offered and the event days too. As we start thinking about 2023 the main challenges are to find more trustees for the museum in order to decide the direction we want to go after COVID and to recruit a replacement for the administration and front of house aspects of Alison’s role as she steps back to being education officer again. Front of House volunteers need to be recruited as well as Collections team volunteers . The museum has the continued challenge of finding financial support, as we cannot rely on continued help from the District Council in future years. Budget management is required ,A review of charges in the tea room was completed with a raise of around 10 %. A review of admission prices was also completed but a decision was made not to increase this year to encourage appeal to all demographics of society and to maximize reach and penetration of audience . Engagement with visitors was key to the operation of the museum and this was the overriding focus for 2022.
## **Volunteer work**
Over 5000 hours of volunteering were logged in 2022, The trustees identified key areas of change and development to be implemented by volunteers and trustees alike . Volunteers are well trained at signing in and out and recording the dedication and commitment by volunteer and Trustees .The trustees are hands on and like to be involved with the execution of task .Previous years the 4000 hours worked by volunteers is in a “normal” year, mostly because we Volunteer recruitment will be a key concern over the next year.Work done in 2022 has included:
- Mill maintenance
- Site maintenance including painting buildings, ploughs and doors, general maintenance of lawns and the building of a new shed
- Vintage vehicles work restoring various artefacts for display
- Exhibition on Burwell Carnival
- Photo digitization, 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.
- Investment in a new fire alarm system Investment in facilities both visitor facing and behind the scenes
- 1 -
## **BURWELL MUSEUM TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
April Start of season event Admission Charge Easter Themed activities Opening Day Easter Sunday 400 visitors June Queens Jubilee 50 visitors due to weather
July 30[th] Anniversary Day of Opening 1992 . 300 visitors August Classic Car Show 300 visitors September Heritage Open Days 200 visitors October Autumn Miscellany Crafts and Creations .130 visitors NB: No income or interest in non supervised children's activities . Action point for 2023
## **Funded projects**
Bob Mclaren £10k
Bob Mclaren £35k
Burwell Carnival £300
## **Plans for the winter**
Refurbishing some of the outside objects and providing better signage
Building of new mill shed when it arrives and continued work on the mill
Working through the museum archive and filing cabinets to enable better information about artefacts to visitors
Re organize including sheds, workshop and builder’s store
## **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 Ensure engagement with visitors , to provide specific information about artefacts and interesting facts from the era
F Generate funding for the continued upkeep of the mill as a working mill by 2024
G Exhibitions : Carnival across the decades .
## **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**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
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 Trustees consider 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 14 Month Period.
The Trustees have 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 Trustees, who are also the directors for the purpose of company law, and who served during the 14 Month Period and up to the date of signature of the financial statements were:
K Brooking S Heath D Ryan B Wilson Mr M Browne (Appointed 1 May 2022) Ms S J Ganiford (Appointed 1 May 2022) Ms S C Phipps (Appointed 1 May 2022) Ms V L Dolphin
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 Trustees' report was approved by the Board of Trustees.
**B Wilson** Trustee Dated: 20 December 2023
- 3 -
## **BURWELL MUSEUM TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF BURWELL MUSEUM TRUST**
I report to the Trustees on my examination of the financial statements of Burwell Museum Trust (the charity) for the 14 Month Period ended 31 December 2022.
## **Responsibilities and basis of report**
As the Trustees 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.
Hayden Watson
Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX
Dated: 12 January 2024
- 4 -
## **BURWELL MUSEUM TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
43,519
10,000
Charitable activities
**4**
11,392
-
Investments
**5**
24
-
**Total income**
54,935
10,000
Charitable activities
**6**
39,108
8,177
**Net income/(expenditure)**
15,827
1,823
Transfers between funds
-
-
**Net movement in funds**
15,827
1,823
**Reconciliation of funds:**
Fund balances at 1 November
2021
47,556
445,004
**Fund balances at 31 December**
**2022**
63,383
446,827|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
53,519
17,604
-
11,392
5,596
-
24
5
-
64,935
23,205
-
47,285
25,996
24,565
17,650
(2,791)
(24,565)
-
(7,998)
7,998
17,650
(10,789)
(16,567)
492,560
58,345
461,571
510,210
47,556
445,004|**Total**
**2021**
**£**
17,604
5,596
5
23,205
50,561
(27,356)
-
(27,356)
519,916
492,560|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the 14 Month Period. All income and expenditure derive from continuing activities.
- 5 -
## **BURWELL MUSEUM TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**14**
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**15**
Unrestricted funds|**2022**
**£**
200
1,419
74,132
75,751
444|**£**
434,903
75,307
510,210
446,827
63,383
510,210|**2021**
**£**
200
1,420
49,294
50,914
954|**£**
442,600
49,960|
|---|---|---|---|---|
|||||492,560|
|||||445,004
47,556|
|||||492,560|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the 14 Month Period ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the 14 Month Period 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 Trustees on 20 December 2023
B Wilson
## **Trustee**
Company registration number 01831269 (England and Wales)
- 6 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Burwell Museum Trust 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 **Reporting period**
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
## **1.2 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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.
## **1.3 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors 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.
## **1.5 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.
- 7 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
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.
## **1.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.7 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 the statement of financial activities.
## **1.8 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).
## **1.9 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.
## **1.10 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.
- 8 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.11 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.
## _**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 payments 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.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees 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.
- 9 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
38,719
10,000
Grant income
4,800
-
43,519
10,000|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
48,719
2,861
-
4,800
14,743
-
53,519
17,604
-|**Total**
**2021**
**£**
2,861
14,743|
|---|---|---|
|||17,604|
Grant income includes £14,000 from East Cambridgeshire District Council to enable the business to restart after the Covid-19 pandemic.
## **4 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|**Heading #ac989**|||
|Sale of goods|11,392|5,596|
|**Income from investments**|||
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|Interest receivable|24|5|
## **5 Income from investments**
- 10 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **6 Expenditure on charitable activities**
|||**Heading**|**Heading**|
|---|---|---|---|
|||**#ac982**|**#ac982**|
|||**2022**|**2021**|
|||**£**|**£**|
||**Direct costs**|||
||Staff costs|8,288|-|
||Depreciation and impairment|7,697|8,535|
||Purchases|4,751|228|
||Educational materials|565|-|
||Event costs|3,203|287|
||Water rates|234|643|
||Insurance|2,786|2,119|
||Light and heat|2,202|2,128|
||Repairs and maintenance|13,427|26,773|
||Printing, photography, postage and stationery|347|-|
||Bank charges|487|-|
||Consultancy fees|-|6,520|
||General expenses|1,289|1,483|
||Subscriptions|185|555|
||Advertising and marketing|774|276|
|||46,235|49,547|
||**Share of support and governance costs (see note 7)**|||
||Governance|1,050|1,014|
|||47,285|50,561|
||**Analysis by fund**|||
||Unrestricted funds|39,108|25,996|
||Restricted funds|8,177|24,565|
|||47,285|50,561|
|**7**|**Support costs allocated to activities**|||
|||**2022**|**2021**|
|||**£**|**£**|
||Governance costs|1,050|-|
||**Analysed between:**|||
||Heading #ac982|1,050|1,014|
_**WAR NING - DOES NOT AGRE E**_
- (1,014)
- 11 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **8 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the 14 Month Period.
## **9 Employees**
The average monthly number of employees during the 14 Month Period was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
||2|-|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|8,135|-|
|Social security costs|153|-|
||8,288|-|
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Leasehold land**
**and buildings**
**Plant and**
**equipment**
**£**
**£**
**£**
**Cost**
At 1 November 2021
276,723
237,150
101,800
At 31 December 2022
276,723
237,150
101,800
**Depreciation and impairment**
At 1 November 2021
28,039
53,390
91,644
Depreciation charged in the 14 Month Period
2,764
2,369
2,564
At 31 December 2022
30,803
55,759
94,208
**Carrying amount**
At 31 December 2022
245,920
181,391
7,592
At 31 October 2021
248,684
183,760
10,156|**Total**
**£**
615,673|
|---|---|
||615,673|
||173,073
7,697|
||180,770|
||434,903|
||442,600|
- 12 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
|**11**
**Tangible fixed assets**
**12**
**Stocks**
Finished goods and goods for resale
**13**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals and deferred income|**(Continued)**
**2022**
**2021**
**£**
**£**
200
200
**2022**
**2021**
**£**
**£**
1,419
1,420
**2022**
**2021**
**£**
**£**
160
-
(670)
-
954
954
444
954|**(Continued)**
**2022**
**2021**
**£**
**£**
200
200
**2022**
**2021**
**£**
**£**
1,419
1,420
**2022**
**2021**
**£**
**£**
160
-
(670)
-
954
954
444
954|
|---|---|---|
|||**2021**
**£**
1,420|
|||**2021**
**£**
-
-
954|
|||954|
- 13 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **15 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**Balance at**
**1 November**
**2020**
**Resources**
**expended**
**£**
**£**
Collection
fund
13,287
(610)
Restoration
fund
25
-
Co Op grant
3,422
(3,422)
Leasehold
buildings
186,129
(2,369)
Freehold
buildings
242,846
(2,766)
Other
buildings and
equipment
11,862
(3,400)
John Lewis
4,000
(11,998)
461,571
(24,565)|**Movement in funds**
**Transfers**
**Balance at**
**1 November**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2022**
**£**
**£**
**£**
**£**
**£**
-
12,677
10,000
(479)
22,198
-
25
-
-
25
-
-
-
-
-
-
183,760
-
(2,369)
181,391
-
240,080
-
(2,764)
237,316
-
8,461
-
(2,564)
5,897
7,998
-
-
-
-
7,998
445,004
10,000
(8,176)
446,827|**Movement in funds**
**Transfers**
**Balance at**
**1 November**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2022**
**£**
**£**
**£**
**£**
**£**
-
12,677
10,000
(479)
22,198
-
25
-
-
25
-
-
-
-
-
-
183,760
-
(2,369)
181,391
-
240,080
-
(2,764)
237,316
-
8,461
-
(2,564)
5,897
7,998
-
-
-
-
7,998
445,004
10,000
(8,176)
446,827|
|---|---|---|
|||446,827|
## **16 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**1**|**November**|**Incoming**|**Resources**|**Transfers**||**At 31**|
|---|---|---|---|---|---|---|---|---|
||||**2021**|**resources**|**expended**||**December 2022**||
||||**£**|**£**|**£**|**£**||**£**|
|General funds|||47,556|54,935|(39,108)|-||63,383|
|**Previous year:**|**At**|**1**|**November**|**Incoming**|**Resources**|**Transfers**|**At 31 October**||
||||**2020**|**resources**|**expended**|||**2021**|
||||**£**|**£**|**£**|**£**||**£**|
|General funds|||58,345|23,205|(25,996)|(7,998)||47,556|
- 14 -
## **BURWELL MUSEUM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE 14 MONTH PERIOD ENDED 31 DECEMBER 2022**_
## **17 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
**Fund balances at 31 December 2022 are represented by:**
Tangible assets
-
434,903
Current assets/(liabilities)
63,383
11,924
63,383
446,827
**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
**Fund balances at 31 October 2021 are represented by:**
Tangible assets
-
442,600
Current assets/(liabilities)
47,556
2,404
47,556
445,004|**Total**
**2022**
**£**
434,903
75,307|
|---|---|
||510,210|
||**Total**
**2021**
**£**
442,600
49,960|
||492,560|
## **18 Related party transactions**
There were no disclosable related party transactions during the 14 Month Period (2021 - none).
- 15 -