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2023-12-31-accounts

Charity Registration No. 290431

Company Registration No. 01831269 (England and Wales)

Burwell Museum Trust

Annual report and unaudited financial statements For the year ended 31 December 2023

BURWELL MUSEUM TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S Heath
Ms B Wilson
Ms S J Ganiford
Mr C Leach (Appointed 1 September 2024)
Ms K Robinson (Appointed 1 September 2024)
Secretary B Wilson
Charity number (England and Wales) 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 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

BURWELL MUSEUM TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

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 2023…

During the winter of 22/23 we completed a significant switch around of our exhibitions and hub facilities, making them more accessible to our visitors. This year we opened with an intention to increase our footfall from 2022, to expand our volunteering staff and to improve our exhibits, hoping to reach more local people and schools along the way. The number of opening days remained unchanged with our offering being Thursdays and Sundays except for bank holidays, but we altered the times from 11-5pm to 10-4pm which seems to have worked well. This along with expanding our program of events and activities, enabled us to increase our visitor numbers to an est. 2,500 during the year. Again, very little formal evaluation was carried out but from reviews left on TripAdvisor, these were again overwhelmingly positive about the activities offered and the opening/event days too.

The Museum made a huge investment in early 2023 in installing a new fire alarm system which covers all the rooms and buildings across the site. This along with moving to mobile technology in their alarm monitoring systems (security alarm and fire) has brought security from any fire safety prohibitions and futureproofed us from the ‘copper switch off’ of the land line systems. We also moved internet providers which has also brought us more cost effective IT links. We started a project in 2023 to consolidate our IT equipment and systems to make them more accessible to all – this project continues in 2024. We also carried out a Fire Risk Assessment and Access Audit in accordance with regulations. There was also extensive electrical works carried out to replace the failed/unsafe distribution boards and wiring in the barn/toilet block, and install emergency lighting around the site.

In early 2023 the Museum lost Alison its Education Officer in February, as she stepped away to concentrate on her other Museum role which left the Museum operating on a completely voluntary basis, with all tasks being picked up by the existing Trustees.

The Museum has the continued challenge of finding financial support, sufficient to pay for its operational costs as well as potential projects that require completion. Budget management has improved in 2023 but further consolidation on this is required into 2024. A further review of charges ‘v’ cost in the tea room was completed with another rise taking place. A review of admission prices was also completed with no increases being made to the charges. We did bring in a booking system for the Mill Tours which has worked well. Engagement with visitors was key to the operation of the Museum and this was the over-riding focus again in 2023.

The final achievement in 2023 was to secure the use formally of the allotment space previously let to Paul Hawes at the rear of the Museum.

BURWELL MUSEUM TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Volunteer work

Over 5000 hours of volunteering were logged in 2023, The Trustees identified key areas of change and development to be implemented by volunteers and Trustees alike, some of which were completed during the winter but lots continued once we were open, with a weekly volunteer presence on site. Volunteers are well trained at signing in and out and recording their dedication and commitment. The Trustees have also been hands on and involved with the execution of tasks. In 2023 we were also successful in engaging a blacksmith to work in our Forge, which has brought this exhibit to life. Although our volunteer hours were up on that of 2022, we lost a few volunteers and have been working through 2023 to recruit both volunteers and Trustees to bring levels up to pre-covid. This is to continue into 2024. Work done in 2023 has included:

Events Included

April Start of season event - Easter Themed activities on Easter Sunday May National Mills Weekend – free event June Arts and Craft Fete July Visit by Tractor & Farming Magazine & subsequent article 1940’s Day with music and dancing August Classic Car Show Children’s School Holiday craft activities ran throughout July and August September Heritage Open Day – Made in Burwell – free event December Private visit by The Culture Secretary and AIM our governing body

BURWELL MUSEUM TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Funded projects

Burwell Carnival £370

Plans for the winter

Other than some of the works already identified in the volunteer achievements section above, there was:

Aims for the next three years (from the Forward Plan)

A. Make the Museum easier to maintain and run.

B. Bring similar items within our collections together and make the exhibits more relevant which will enable better information for visitors.

I. Continue to record, protect and improve our collections

J. Improve our engagement with Visitors, to provide specific information about artefacts and interesting facts from the era, making their visit interesting and relevant.

K. Generate funding for the continued upkeep of the Mill as a working windmill by 2025

L. Proposed Exhibitions: Revised Pub display in Barn, better visibility/display of the existing industries of Burwell, Spinning/Weaving display.

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.

BURWELL MUSEUM TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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 year. However, the costs of the new alarm system has put a strain on reserves, the trustees outweighed the costs vs the benefit and anticipate for reserves to return to normal levels during 2024.

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 year and up to the date of signature of the financial statements were:

Mr S Heath

Ms B Wilson Mr M Browne (Resigned 1 March 2024) Ms S J Ganiford Ms S C Phipps (Resigned 30 July 2024) Ms V L Dolphin (Resigned 1 March 2023) Mr C Leach (Appointed 1 September 2024) Ms K Robinson (Appointed 1 September 2024) Mr A White (Appointed 1 October 2023 and resigned 1 February 2024)

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:

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. The Trustees manage a group of 40 volunteers to ensure the day-today maintenance and running of the museum.

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 year ended 31 December 2023.

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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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:

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: 25 October 2024

BURWELL MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
1,639
-
Charitable activities
4
16,553
-
Investments
5
-
-
Total income
18,192
-
Expenditure on:
Charitable activities
6
43,155
14,417
Total expenditure
43,155
14,417
Net income/(expenditure)
(24,963)
(14,417)
Transfers between funds
(36,195)
36,195
Net movement in funds
8
(61,158)
21,778
Reconciliation of funds:
Fund balances at 1 January
2023
63,383
446,827
Fund balances at 31 December
2023
2,225
468,605		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
1,639
43,519
10,000
16,553
11,392
-
-
24
-
18,192
54,935
10,000
57,572
39,108
8,177
57,572
39,108
8,177
(39,380)
15,827
1,823
-
-
-
(39,380)
15,827
1,823
510,210
47,556
445,004
470,830
63,383
446,827		 Total
2022
£
53,519
11,392
24
64,935
47,285
47,285
17,650
-
17,650
492,560
510,210

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BURWELL MUSEUM TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
16
Unrestricted funds
17		 2023
£
200
843
24,938
25,981
(2,430)		 £
447,279
23,551
470,830
468,605
2,225
470,830		 2022
£
200
1,419
74,132
75,751
(444)		 £
434,903
75,307
510,210
446,827
63,383
510,210

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 December 2023.

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 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 Trustees on

Ms B Wilson Trustee

Company registration number 01831269 (England and Wales)

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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" 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)". 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.

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
1,639
-
Grants
-
-
1,639
-		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
1,639
38,719
10,000
-
4,800
-
1,639
43,519
10,000		 Total
2022
£
48,719
4,800
53,519

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Museum
Sale of goods 16,553 11,392
Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable - 24

5 Income from investments

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Expenditure on charitable activities

Museum Museum
2023 2022
£ £
Direct costs
Staff costs 1,123 8,288
Depreciation and impairment 13,515 7,697
Purchases 9,033 4,751
Event costs 240 565
Water rates 6,378 3,203
Insurance 298 234
Light and heat 3,947 2,786
Repairs and maintenance 3,113 2,202
Printing, photography, postage and stationary 12,125 13,427
Bank charges 2,434 347
Consultancy fees 875 487
General expenses 960 -
Subscriptions 1,352 1,289
Advertising and marketing 793 185
Enter ac918 in database - 774
56,186 46,235
Share of support and governance costs (see note 7)
Governance 1,386 1,050
57,572 47,285
Analysis by fund
Unrestricted funds 43,155 39,108
Restricted funds 14,417 8,177
57,572 47,285
7 Support costs allocated to activities
2023 2022
£ £
Governance costs 1,386 1,050
Analysed between:
Museum 1,386 1,050

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements - -
Depreciation of owned tangible fixed assets 13,515 7,697

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
- 2
Employment costs 2023 2022
£ £
Wages and salaries 1,123 8,135
Social security costs - 153
1,123 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 was as follows:

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12
Tangible fixed assets
Freehold land
and buildings
Leasehold land
and buildings
£
£
Cost
At 1 January 2023
276,723
237,150
Additions
-
-
At 31 December 2023
276,723
237,150
Depreciation and impairment
At 1 January 2023
30,803
55,759
Depreciation charged in the year
2,764
2,369
At 31 December 2023
33,567
58,128
Carrying amount
At 31 December 2023
243,156
179,022
At 31 December 2022
245,920
181,391
13
Stocks
Finished goods and goods for resale
14
Debtors
Amounts falling due within one year:
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 Plant and
equipment
£
101,800
25,891
127,691
94,208
8,382
102,590
25,101
7,592
2023
£
200
2023
£
843
2023
£
-
1,230
-
1,200
2,430		 Total
£
615,673
25,891
641,564
180,770
13,515
194,285
447,279
434,903
2022
£
200
2022
£
1,419
2022
£
160
-
(670)
954
444

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 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.

At 1 January Incoming Resources Transfers At 31
2023 resources expended December 2023
£ £ £ £ £
Collection fund 22,198 - (902) - 21,296
Restoration fund 25 - - - 25
Leasehold buildings 181,391 - (2,369) - 179,022
Freehold buildings 237,316 - (2,764) 8,605 243,157
Other buildings and equipment 5,897 - (8,382) 27,590 25,105
446,827 - (14,417) 36,195 468,605
Previous 14 Month Period: At 1 January Incoming Resources Transfers At 31
2022 resources expended December 2022
£ £ £ £ £
- - - - -
Collection fund 12,678 10,000 (480) - 22,198
Restoration fund 25 - - - 25
Leasehold buildings 183,760 - (2,369) - 181,391
Freehold buildings 240,080 - (2,764) - 237,316
Other buildings and equipment 8,461 - (2,564) - 5,897
445,004 10,000 (8,177) - 446,827

17 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 January Incoming Resources Transfers At 31
2023 resources expended December 2023
£ £ £ £ £
General funds 63,383 18,192 (43,155) (36,195) 2,225
Previous 14 Month Period: At 1 January Incoming Resources Transfers At 31
2022 resources expended December 2022
£ £ £ £ £
General funds 47,556 54,935 (39,108) - 63,383

BURWELL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

18 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
-
447,279
Current assets/(liabilities)
2,225
21,326
2,225
468,605
Unrestricted
Restricted
funds
funds
2022
2022
£
£
At 31 December 2022:
Tangible assets
-
434,903
Current assets/(liabilities)
63,383
11,924
63,383
446,827		 Total
2023
£
447,279
23,551
470,830
Total
2022
£
434,903
75,307
510,210

19 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).