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2021-04-09-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 4
Report ofthe Independent
Auditors		 5 to 8
Statement of Financial Activities
Balance Sheet 10 to 11
Notes to the Financial Statements 12' to 20
Detailed Statement
of Financial Activities		 21

9/4/21 9/4/20
Unrestricted Restricted Total Total
fund funds funds funds
Notes E 8 6 6
INCOME AND ENDOWMENTS FROM
Other trading
activities		 2 2,964
Investment
income		 3 97,742 97,742 132,479
Total 97,742 97,742 135,443
EXPENDITURE ON
Raising funds 13,357 13,357 13,848
Charitable
activities
Maintenance
ofmuseum		 and exhibits 63,657 63,657 64,266
Museum
administration		 11,982 11,982 26,316
Total 75,639 13,357 88,996 104,430
NET INCOME/(EXPENDITURE) 22,103 (13,357) 8,746 31,013
Other recognised
gains/(losses)
Gains/(losses)
on revaluation
assets		 offixed 46D,39D 460,390 ~369,9173
Net movement
in funds		 22,103 447,033 469,136 (358,904)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 422,502 3,769,085 4,191,587 4,550,491
TOTAL FUNDS CARRIED FORWARD 444,605 4,216,118 4,660,723 4,191,587

9/4/21 9/4/20
Unrestricted Restricted Total Total
fund funds funds funds
Notes 6 f 6
FIXEDASSETS
Heritage assets 961,290 961,290 961,290
Investments 3,420 439 3,420,439 2,950,684
4,381,729 4,381,729 3,911,974
CURRENT ASSETS
Debtors 9 21,741 21,741 22,382
Investments
Cash at bank		 10 4,960
425 854		 28,095
~77536)		 33,055
348318		 59,024
322 1191
452,555 (49,441) 403,114 404,297
CREDITORS
Amounts
falling due within one year		 11 (7,950) (7,950) (8,514)
NET CURRENT ASSETS 444,605 ~49447) 395,164 395,783
TOTAL ASSETSLESSCURRENT
LIABILITIES 444,605 4,332,288 4,776,893 4,307,757
NETASSETS 444,605 4,332,288 4,776,893 4,307,757

FUNDS 12
Unrestricted funds 444,605 422,502
Restricted funds 4,332,288 3,885,255
TOTAL FUNDS 4,776,893 4,307,757

2. Other trading
activities
9/4/21 9/4/20
5
Sales ofcatalogues 2,964
3. Investment income
9/4/21 9/4/20
6
Investment income 97,328 130,470
Deposit account interest 414 2,009
97,742 132,479
4. Raising funds
Investment management costs
9/4/21 9/4/20
F
Portfolio management 13,357 13,848

Unrestricted Restricted Total
fund funds funds
E K 5
INCOME AND ENDOWMENTS FROM
Other trading activities 2,964 2,964
Investment income 132,479 132,479
Total 135,443 135,443
EXPENDITURE ON
Raising funds 13,848 13,848

6. Comparatives
for the statement		 Comparatives
for the statement		 Comparatives
for the statement		 Comparatives
for the statement		 offinancial activities -continued -continued
Unrestricted Restricted Total
fund funds funds
E E
Charitable
activities
Maintenance
of		 museum and exhibits 64,266 64,266
Museum
administration		 26,316 26,316
Total 90,582 13,848 104,430
NET INCOME/(EXPENDITURE) 44,861 (13,848) 31,013
Other recognised
gains/(losses)
Gains/(losses)
on revaluation		 offixed
assets ~389,917) ~389,917)
Net movement in funds 44,861 (403,765) (358,904)
RECONCILIATION
OF FUNDS
Total funds brought forward 377,641 4,172,850 4,550,491
TOTAL FUNDS CARRIED
FORWARD 422,502 3,769,085 4,191,587
7. Heritage assets
Total
E
Market value
At 10April 2020 and 9April 2021 961,290
Net book value
At 9 April 2021 961,290
At 9 April 2020 961,290

Listed
investments
6
Market value
At 10April 2020 2,950,684
Additions 428,233
Disposals (418,868)
Revaluations 460,390
At 9 April 2021 3,420,439
Net book value
At 9 April 2021 3,420,439
At 9April 2020 2,950,684
Investments were held as follows: 9/4/21 9/4/20
Market value Market value
6 E
Investment assets in the UK 2,544,458 2,086,199
Investment assets outside the UK 875,981 864,485
3,420,439 2,950,684
The quoted investments include the following holdings which
represent more than 5% by value ofthe total portfolio 9/4/21 9/4/20
Market value Market value
f 6
Treasury stock - 2024 182,220 185,067
Treasury stock -2027 188,848 148,937
Halma
pic		 189,366 145,780
Picton Property Income Limited 174,800 156,370
Nestle 171,285 169,765
Renewables Infrastructure 193,920 213,760
Cost or valuation at 9 April 2021 is represented by:
Listed
investments
Valuation in 2021 1,167,436
Cost 2,253,003
3,420,439

9. Debtors: amounts falling due within one year
9/4/21 9/4/20
E
Other debtors 325 325
Prepayments 21,416 22,057
21,741 22,382
10. Current asset investments
9/4/21 9/4/20
9 E
Uninvested
funds		 held by portfolio manager 4,223 29,654
Other funds 28,832 29,370
33,055 59,024
11. Creditors: amounts falling due within one year
9/4/21 9/4/20
E
Other creditors 7,950 8,514
12. Movement
in funds
Net
At movement At
10/4/20 in funds 9/4/21
E E 6
Unrestricted
funds
General
fund		 422,502 22,103 444,605
Restricted funds
Casebourne
fund		 45,616 45,616
0 &FWells Charitable Trust 528 528
CONC Higgins capital fund 3,722,110 447,033 4,169,143
Buckingham
Lace		 fund 148 148
Museum
amenity		 fund 20 20
Esmee Fairbairn Trust 264 264
Penrose paintings fund 399 399
3,769,085 447,033 4,216,118
TOTAL FUNDS 4,191,587 469,136 4,660,723

Net movement in funds,
included
 in the above are as follows:
Incoming
resources
8		 Resources
expended
F		 Gains and
losses
f		 Movement
infunds
Unrestricted funds
General fund 97,742 (75,639) 22,103
Restricted funds
CCNC Higgins capital fund (13,357) 460,390 447,033
TOTAL FUNDS 97,742 ~88,996) 460,390 469,136

Comparatives
for mo		 vement
in funds
Net
At movement At
10/4/19 in funds 9/4/20
F E
Unrestricted
funds
General
fund		 377,641 44,861 422,502
Restricted funds
Casebourne
fund		 45,616 45,616
0 & FWells Charitable
CCNC Higgins capital
Buckingham
Lace fund
Museum
amenity
fund
Esmee Fairbairn
Trust
Penrose paintings
fund		 Trust
fund		 528
4,125,875
148
20
264
399		 (403,765) 528
3,722,110
148
20
264
399
4,172,850 ~403,765) 3,769,085
TOTAL FUNDS 4.550,491 ~355,904) 4,191,587

Compar ative
 net movement
in fun		 ds,
included
in the		 above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
F 6 6
Unrestricted funds
General fund 135,443 (90,582) 44,861
Restricted funds
CCNC Higgins capital fund (13,848) (389,917) (403,765)
TOTAL FUNDS 135,443 ~104,430) L389,991177) ~358,904)
A current year 12 mont hs
and prior year		 12 months
combined
posi		 tion is as foll ows:
Net
At movement At
10/4/19 in funds 9/4/21
6 6 E
Unrestricted
funds
General fund 377,641 66,964 444,605
Restricted funds
Casebourne
fund		 45,616 45,616
08 FWells Charitable Trust 528 528
CCNC Higgins capital fund 4,125,875 43,268 4,169,143
Buckingham
Lace fund		 148 148
Museum
amenity		 fund 20 20
Esmee Fairbairn Trust 264 264
Penrose paintings fund 399 399
4,172,850 43,268 4,216,118
TOTAL FUNDS 4,550,491 110,232 4,660,723

included
in the		 above are as follo ws:
Incoming Resources Gains and Movement
resources expended losses in funds
8 8 8
Unrestricted funds
General fund 233,185 (166,221) 66,964
Restricted funds
CCNC Higgins capital fund (27,205) 70,473 43,268
TOTAL FUNDS 233,185 (193,426) 70,473 110,232

9/4/21 9/4/20
E 6
INCOME AND ENDOWMENTS
Other trading
activities
Sales of catalogues 2,964
Investment
income
Investment
income		 97,328 130,470
Deposit account interest 414 2,009
97,742 132,479
Total incoming
resources		 97,742 135,443
EXPENDITURE
Investment
management		 costs
Portfolio management 13,357 13,848
Charitable
activities
Insurance
ofmuseum
exhibits		 32,416 28,520
Restoration
&cleaning		 936 4,678
Photographs
ofexhibits		 and mounts 763
Subscriptions 8sundries 305 928
Contribution
towards
curator costs		 30,000 30,000
63,657 64,889
Support costs
Governance costs
Auditors'
remuneration		 3,700 3,500
Auditors'
remuneration		 for non audit
work 4,070 3,984
Legal costs and disbursements 4,212 17,909
Museum
board expenses		 300
11,982 25,693
Total resources expended 88,996 104,430
Net income 8,746 31,013