OpenCharities

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

2021-03-31-accounts

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

Company Registered No. 1968010

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

(Company Registered Number 1968010)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

INDEX

Report of the Trustees 2 to 4
Statement of Financial Activities 5 to 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 13
Report of the Independent Examiner 14
Income and Expenditure Account 15

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

(Company Registered Number 1968010)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021

The Trustees present their Report and the Financial Statements for the year ended 31 March 2021.

CONSTITUTION AND PRINCIPAL ACTIVITY

Godalming Museum is a company limited by guarantee (Memorandum of Association dated 4 November 1985) and is a registered charity. The principal activity of the Company is the provision of museum facilities in Godalming for the public benefit.

TRUSTEES AND DIRECTORS:

The Directors at the end of the year under review were:

A J Bott, OBE, MA, FSA (Chairman) W M H Edwards, MA Lady Forbes M R Goodridge, MBE, LLB (Vice Chairman) M Hartnall, FCA Mrs M E Heath-Bullock J Heagin (Waverley Borough Council Representative) Rt Hon Jeremy Hunt, MA, MP A Kelly, FCA Dr T D Kennea, RD, MSc M More-Molyneux, HM Lord Lieutenant of Surrey J Purvis (Godalming Town Council Representative) A M Rosoman (Godalming Town Council Representative) C M I Smith MA (Charterhouse Representative)

Treasurer:

A Kelly, FCA

Registered Office: 109A High Street Godalming Surrey, GU7 1AQ Independent Examiner: P J Osborne, FCA Osbornes Accountants Limited 20 Market Place Kingston upon Thames Surrey, KT1 1JP Solicitors: Clyde & Co LLP 1 Stoke Road Guildford Surrey, GU1 4HW Bankers: HSBC Bank Plc 110 High Street Godalming Surrey, GU7 1DP

1

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

(Company Registered Number 1968010)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021

Registered Charity No: 292155 Accredited Museum No: 255

Review of Performance, Progress and Achievements

2020– 2021

The museum was forced to close on 17[th] March 2020 due to the coronavirus pandemic and remained closed to visitors for nearly the whole of the financial year under review. The museum was open for nine weeks in August, September and October 2020, subject to many restrictions resulting from coronavirus. The exhibition ‘Godalming’s Secret Cemetery’ was shown, having been postponed from earlier in the year and this provided a fascinating insight into the excavation in 2014 of a remarkable archaeological site near Godalming Parish Church.

The intention was to reopen with a further exhibition in mid-October, but rising infection rates and the second lockdown put paid to this. It was decided that the museum should stay closed until Easter 2021, but in fact government restrictions kept the museum closed until May 2021.

Thanks to the splendid efforts of our Curator Alison Pattison and our Volunteer Coordinator Angela Terelak the museum has remained in contact with its Friends, volunteers, supporters and the local community during the periods it was closed. The museum supported the local community during lockdown by offering the distraction of history – the Museum’s 100 lockdown videos were particularly popular. These were posted daily on the museum Facebook page and copied on to the website.

After the videos, we posted daily “then and now” photographs of the town, celebrating the generations of photographers who have created a wonderful record of the changing townscape. More than 50 volunteer hours went into editing and posting the videos and approximately 150 into taking the present-day photographs. We had many appreciative comments from local residents discovering new aspects of their heritage and from former residents enjoying their virtual revisits. Use of the museum’s Facebook page rose significantly. We attracted over 800 followers, with each post reaching around 400 people. Our most popular video, on Godalming firm RFD, reached 20K people and attracted 8.1K views. It drew the attention of Survitec, RFD’s successor, and the museum provided archive material for the company’s centenary website – a great use of the collection as well as the source of some much-needed income.

Building these digital services required a steep learning curve which would not have been possible without the National Lottery Heritage Fund’s Heritage Digital project.

Once schools re-opened we were able to continue to offer our school loan box service and the Curator continued to deal with enquires received from researchers throughout the period of closure. People took the opportunity of lockdown to research projects and we dealt with twice as many enquiries this year as last.

In October the Curator started a small online shop which brought in some valuable income. The first online lecture organised by the museum was held on March 31[st] and celebrated the museum’s centenary. More are planned.

2

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

(Company Registered Number 1968010)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021 (continued)

Review of Performance, Progress and Achievements 2020 – 2021 (continued)

The museum was able to continue with its National Lottery Heritage Funded project to explore the archaeology and history of the First and Second World War Army camps on Witley Common, although some aspects of the project had to be reworked and the deadline extended. We are very grateful for the support of the NLHF and of our project partners, the Surrey County Archaeology Unit and the National Trust, in enabling this to happen. The field work had all been completed before the first lockdown and the post excavation work was able to proceed much as planned, but it was not possible to hold the school and public events we had scheduled. To compensate in part for this, we created a self-guided walk around part of the commons using the izi.travel app. The walk incorporates directions, images, narration and sound effects and has been well received by the public, with a 5-star rating. Further activities are planned for the next financial year when the project will conclude.

The Trustees are also very grateful to Alison and Angela in particular for their efforts in keeping the museum costs to a minimum which has enabled the Trust to remain solvent and put us in a strong position to resume more normal operations in Summer 2021.

We have also benefited from a strong and positive relationship with Godalming Town Council, which has completed its move into the former shop beneath the museum building, thus enlarging the museum’s entrance and improving its visibility by an enhanced High Street window. The practical help and guidance of the Town Council, to the Curator and Volunteer Co-ordinator, was invaluable in enabling them to make the many and frequent changes required in this strange year.

All museum fundraising events had to be cancelled, but the support of the Friends of the museum continued via payment of their subscriptions and often additional donations, as well as their visits during the brief period of opening. The volunteers did not work in the museum at all during this period (although a few continued their work from home). We are very grateful to all volunteers who continued to show their support throughout the year in many different ways.

Governance and Management

Throughout the enforced closure the Trustees have continued to meet regularly via Zoom to monitor the operation of the Trust, including liaising with Alison and Angela to ensure that the building was secure from both a Covid and a physical perspective. The financial position was also kept under constant review and reopening plans carefully considered.

Review of Financial Activities and Results

Overall a surplus on Unrestricted Funds of £7,736 was recorded for the year to 31[st] March 2021, an increase from £3,245 in the previous year. This was achieved as a result of the continued and much valued support of our Friends, our local corporate donors and following the receipt of a £10,000 Coronavirus Grant for which we are very grateful. In addition the expenditure on general operations was reduced by over 51% as referred to above which has also played a major role in enabling the Trust to record this result.

The increase in market value of our investments over the course of the year was £14,841, compared to a decrease of £17,117 over the year to 31[st] March 2020. That year suffered from the significant downturn in markets as a result of the Covid outbreak and lockdown that month, which have recovered considerably in recent months.

3

The total of our Unrestricted Funds consequently increased by £22,220 to £99,013 over the course of the year, and the Trustees consider that to constitute an adequate level to be able to resume more normal operations during the latter half of 2021 and beyond.

We have continued to receive funds earmarked for specific projects that will be resumed in the coming months, which are accounted for as Restricted Funds.

4

GODALMING MUSEUM TRUST (A Company Limited by Guarantee)

(Company Registered Number 1968010)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 March 2021 (continued)

Looking back and looking forward

We would like to record here our grateful remembrance of four great Friends and supporters of the museum who each contributed so much to Godalming and its heritage: John Young; John Janaway; Stephen Goddard and Mary Caroe.

The museum opened again on 18[th] May 2021, initially three days a week, but soon after increased this to four. We have scheduled a good variety of exhibitions, the shop is fully functioning and volunteers have returned. We continue to offer email responses to all research enquiries and physical access to the museum’s library resources is possible by prebooked appointment. Our loan box service to schools continues. Fundraising events have resumed and we look forward to the remainder of our centenary year.

……………………………………...

A J BOTT Chairman of the Trustees

Date: …………….……………..

5

GODALMING MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account)

FOR THE YEAR ENDED 31 March 2021

General Restricte Total
d
Notes Funds Funds 2021
£ £ £
INCOME
Grants and donations 14,558 32,167 46,725
Income from charitable activities 3 6,986 - 6,986
Income from other trading activities 4 2,125 - 2,125
Investment income 2,061 - 2,061
_ _ _
Total income 25,730 32,167 57,897
_ _ _
EXPENDITURE
Expenditure on charitable activities 5 17,994 - 17,994
Project expenditure - 23,317 23,317
_ _ _
Total expenditure 17,994 23,317 41,311
_ _ _
Net income/expenditure before gains on
investments and transfers between funds 7,736 8,850 16,586
Unrealised gain on investments 14,841 - 14,841
Transfers between funds
-
Project expenditure		 (357) 357 -
_ _ _
Net surplus for the year 22,220 9,207 31,427
Reconciliation of funds
Total funds brought forward 76,793 17,481 94,274
_ _ _
Total funds carried forward 99,013
_		 26,688
_		 125,701
_

6

GODALMING MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2020

General Restricte Total
d
Notes Funds Funds 2020
£ £ £
INCOME
Grants and donations 6,050 31,950 38,000
Income from charitable activities 3 13,401 - 13,401
Income from other trading activities 4 17,492 - 17,492
Investment income 3,420 - 3,420
_ _ _
Total income 40,363 31,950 72,313
_ _ _
EXPENDITURE
Expenditure on charitable activities 5 37,118 - 37,118
Project expenditure - 45,490 45,490
_ _ _
Total expenditure 37,118 45,490 82,608
_ _ _
Net income/expenditure before gains on
investments and transfers between funds 3,245 (13,540) (10,295)
Released proft on disposal of investments 1,374 - 1,374
Unrealised loss on investments (17,117) - (17,117)
Transfers between funds
-
Project expenditure		 (20,665) 20,665 --
_ _ _
Net defcit for the year (33,163) 7,125 (26,038)
Reconciliation of funds
Total funds brought forward 109,956 10,356 120,312
_ _ _
Total funds carried forward 76,793
_		 17,481
_		 94,274
_

7

GODALMING MUSEUM TRUST

(Company Registered Number 1968010)

BALANCE SHEET AT 31 March 2021

Note
s
2021
£
FIXED ASSETS
Investments
6
72,010
__
CURRENT ASSETS
Shop stocks
7
8,361
_
Debtors:
Income tax recoverable
1,500
Sundry debtors
-
Prepayments
1,452

2,952

Cash at bank and in hand:
Savings account
1,794
Current account
33,15
5
Shop bank account
8,017
Cash in hand
227

43,19
3

54,506
CREDITORS: Amounts falling due
within one year:
Creditors and accruals
815

NET CURRENT ASSETS
53,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,701

Represented by:
FUNDS
Unrestricted General Fund
99,013
Restricted Funds
8
26,688
___
125,701
 9,267
__
1,858
2,174
1,084
_
5,116

416
18,825
8,858
227

28,326
___		 2020
£
55,109
__
42,709
3,544
_
39,165

94,274

76,793
17,481
___
94,274

8

GODALMING MUSEUM TRUST

(Company Registered Number 1968010)

BALANCE SHEET AT 31 March 2021

(continued)

For the year ending 31 March 2021 the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006.

No notice has been deposited under Section 476 of the Companies Act 2006 in relation to its financial statements for the year.

The Trustees acknowledge the responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved on behalf of the Trustees on …………………………………

…………………………………………………..

A J BOTT

……………………………………………………

A KELLY

9

GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Godalming Museum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b) Going concern

The accounts have been prepared on the going concern basis. The Trustees have paid particular attention to the effects upon the Trust of the Covid-19 outbreak, and have taken necessary steps to minimise expenditure during this period and are confident that this basis of preparation is appropriate.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

e) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust’s work.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

g) Stock

Stock is included at the lower of cost or net realisable value.

h) Debtors

Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

10

GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

(continued)

1. ACCOUNTING POLICIES (continued)

i) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

k) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. LEGAL STATUS OF THE TRUST

The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

3. INCOME FROM CHARITABLE ACTIVITIES

UnrestrictedUnrestricted UnrestrictedUnrestricted
Funds Funds
2021 2020
£ £
Friends’ subscriptions 4,367 3,469
Fundraising events 492 5,290
Educational and group visits 332 2,147
Lettings and exhibitions - 625
Corporate donations 1,750 1,600
Sundry income 45 270
______ ______
6,986
______		 13,401
______

4. INCOME FROM OTHER TRADING ACTIVITIES

UnrestrictedUnrestricted UnrestrictedUnrestricted
Funds Funds
2021 2020
£ £
Shop, exhibition and refreshment sales 2,125 15,318
Cards for Good Causes - 2,174
______ ______
2,125
______		 17,492
______

11

GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

(continued)

5. EXPENDITURE ON CHARITABLE ACTIVITIES

UnrestrictedUnrestricted UnrestrictedUnrestricted
Funds Funds
2021 2020
£ £
Shop purchases and payments to exhibitors 906 7,004
Rent 6,825 6,825
Utilities, telephone and internet 2,943 4,993
Volunteer co-ordinator - (2,390)
Archiving, cataloguing and conservation - 4,352
Repairs, maintenance and security 2,417 3,293
Insurance 960 960
Cleaning, waste disposal and garden costs 2,003 5,497
Computer costs 451 334
Publicity and newsletter - 2,881
Library 86 90
Other expenses 779 1,864
Governance costs – independent examiner’s fee 612 594
Provisions 12 821
______ ______
17,994 37,118
______ ______
6. INVESTMENTS
2021 2020
£ £
Schroders Charity Equity Fund
3527.8346 units 41,981 29,172
IFSL CAF Fixed Interest B Fund 16,384 15,300
L & G Equitrak Fund 13,645 10,637
______ ______
Market Value as at 31 March 2021 72,010
______		 55,109
______

All investments are in common or collective investment schemes registered in the UK.

7. STOCKS

Stocks for resale 2021
£
8,361		 2020
£
9,267

12

GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

(continued)

8. RESTRICTED FUNDS

Online Sir Kenneth Education Education Centenary Witley Museum Museum Secret
Services Clucas Resources Events Camp Entrance Cemetery
Legacy TOTAL
£ £ £ £ £ £ £ £
INCOME
Donations and grants 500 - - 5,000 25,560 607 500 32,167
EXPENDITURE
Project expenditure - - - - (21,960) (500) (857) (23,317)
TRANSFERS TO UNRESTRICTED FUND
Project expenditure - - - - - - 357 357
Balance brought forward
at 1 April 2020 2,500 7,715 141 - 7,125 - - 17,481
______ ______ ______ ______ ______ ______ ______ ______
Balance carried forward
at 31 March 2021 3,000 7,715 141 5,000 10,725 107 - 26,688
______ ______ ______ ______ ______ ______ ______ ______

13

GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

(continued)

9. TRUSTEES’ REMUNERATION AND EXPENSES

No remuneration was paid to any of the Trustees nor are any expenses reimbursed to them for their services to the Trust during the year (2020 – None).

10. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2020-Nil).

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Net Current
Investments
Assets
£
£
Restricted Funds (see note 8)
-
26,688
Unrestricted Funds
72,010
27,003
__
____
72,010
53,691		 Total
£
26,688
99,013
______
125,701

14

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GODALMING MUSEUM TRUST

I report on the accounts of the Charity for the year ended 31 March 2021 which are set out on pages 5 to 13.

Respective responsibilities of Trustees and Examiner

The charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘’true and fair view’’ and the report is limited to those matters set out in the statement below.

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 company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of any independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

I have no concerns and have come across no other mattes in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

………………………………… P J Osborne FCA Osbornes Accountants Limited 20 Market Place Kingston upon Thames Surrey KT1 1JP

15

Date............................................... 16

GODALMING MUSEUM TRUST INCOME AND EXPENDITURE ACCOUNT – UNRESTRICTED FUNDS FOR THE YEAR ENDED 31 March 2021

INCOME
General donations
Friends’ subscriptions
Shop, refreshment sales and exhibition
surplus
Less: shop purchases
Cards for Good Causes
Income tax recoverable under Gift Aid
Fundraising events
Educational and group visits
Lettings and exhibitions
Bank and other interest
Income from investments
Corporate donations
Covid grant
Other income
LESS: EXPENDITURE
Rent
Water, electricity, telephone and internet
Volunteer co-ordinator (net)
Repairs and maintenance
Archiving, cataloguing and conservation
Insurance
Security
Garden
Independent examiner’s fees
Cleaning and waste disposal
Library and administration
Publicity and newsletter
Parking costs
Provisions
Subscriptions
Education and training
Website and IT support costs
Miscellaneous
Shop administrative expenses
SURPLUS FOR THE YEAR		 2021
£
£
3,057
4,367
2,125
(906
)
1,219
-
1,501
492
332
-
1
2,060
1,750
10,000
45
24,824
6,825
2,943
-
1,489
-
960
928
306
612
1,697
86
-
-
12
132
-
451
228
419
17,088
______
7,736
 2020
£
£
4,190
3,469
15,318
(7
,004)
8,314
2,174
1,860
5,290
2,147
625
2
3,418
1,600
-
270
33,359
6,825
4,993
(2,390)
1,798
4,352
960
1,495
1,529
594
3,968
90
2,881
963
821
70
116
334
247
468
30,114
______
3,245

17