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2022-03-31-accounts

Registered number 01950221

Charity Number 292807

Buckingham Old Gaol Trust

Report and Accounts

31 March 2022

Buckingham Old Gaol Trust Legal and Administrative Information

Trustees

Mr David Bethell Mr Terence Bloomfield Mr David Fell Ms Bryony Norburn Mrs Joanne Thompson Ms Kim Whitbread Mr Michael Wisbach

Chairman

Mrs Joanne Thompson

Secretary

Mr Michael Wisbach

Treasurer

Mr Terence Bloomfield

Independent Examiner

BirchCooper Accounting Services Ltd Midsummer Court 314 Midsummer Boulevard Milton Keynes MK9 2UB

Registered Office

The Old Gaol Market Hill Buckingham MK19 1JX

Company Number

1950221

Charity Number

292907

The Old Gaol Market Hill Buckingham MK19 1JX

Company Number 1950221

Charity Number 292907

1

Buckingham Old Gaol Trust Company Number: 01950221 Charity Number: 292807

Trustee’s Report

The Trustee’s present their Annual Report along with Financial Statements for the year ended 31 March 2022.

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated on 25 September 1985 and registered as charity on 25 October 1985. The charity changed its name from Buckingham Heritage Trust to Buckingham old Gaol Trust on 29 February 2021.

The charity was created with a Memorandum of Association, which establishes the objects and powers of the company. It is governed by its Articles of Association. Last year saw several permanent resignations, Mike Smith, Helene Hill, Kay Meadows, David Buckley, Warren Whyte, Clare Jenkins, Owen Lazzari and Jules Blundell-Thompson. Joanne Thompson and Bryony Norburn were elected as Trustees. David Bethell decided not to resign permanently. Michael Wisbach became Company Secretary and Joanne Thompson was elected as Chair. Kim Whitbread and David Fell complete the current Board.

The Board will be seeking new members once it has become more established but will need to examine the Articles of Association to see if some of its points need to be amended to take account for the small number of current Trustees.

The Board members each have individual responsibilities that they work on and have combined to produce a new 3-year plan and progress is discussed at the Board meetings, which have been reduced in number. The day-to-day management of the museum and the shop is undertaken by the “management team” – Mike Wisbach, Terry Bloomfield & Kim Whitbread. Terry Bloomfield manages the accounts. Joanne Thompson is co-ordinating the building repair. David Fell is working on cataloguing the collection. Bryony Norburn is looking at a new membership system. Although nolonger a Trustee Jules Blundell-Thompson is continuing to manage the website.

Related parties

There are no related parties

Risk management

The Trustees undertook a SWOT analysis as part of their 3-year plan. One of the current risks is the small number of Trustees on the Board.

Objectives and Activities

The Objectives of the charity, as set out in the Memorandum of Association, are to restore and maintain the building known as Buckingham Old Gaol as a Grade 2 listed building of historical interest; and to develop the same as a heritage museum and gallery for the benefit of the people of Buckingham and Buckinghamshire.

Achievements and Performance

The early part of 2021 was affected by covid, due to closure of the museum. The museum and shop have returned to their normal hours since May 2021

2

However, a grant from the Rothschild Foundation meant that when the museum fully re-opened, we were able to have a large exhibition in the Exercise Yard to showcase our Richard III Gold Half Angel, which ran from 2[nd] October 2021 to 26[th] February 2022. This exhibition, unlike previous exhibitions in the Exercise Yard required payment of the usual entrance fee. On 28[th] February 2022, the second phase of the exhibition was installed in the reinterpreted Medieval and Tudor Room.

We continue our beneficial arrangements with our tenants – the Tourist Information Centre, Giltswan (Mr Russell Cross) and Skyline Taxis.

The court case in respect of the July 2017 misappropriation of artefacts has still not been undertaken.

Some revenue and additional members of the Trust have come from a merger with the Friends but we still need a campaign to increase overall membership and this revenue stream. We have restarted a bi-annual newsletter and will give it out free to local people visiting the museum to increase our support.

An application was made to the Town Council for funding over the next four years. An award of £5,000 annually with a 3.5% annual uplift, total of £21,075, was agreed by the Town Council.

There have been four further strikes to the South-east corner of the museum, resulting in further damage to the stonework and removal of the metal work. Co-ordinating this repair is complex because it requires the road (The High Street) alongside the museum south wall to be closed. However, repairs to the roof have stopped the leaks and the cracks in the museum are being monitored.

Museum Report

Our fundraising has successfully restarted with a fashion show and quiz night and there is a full program planned leading up to the return of Father Christmas in December.

The number of school visits has not recovered after Covid however, there has been a significant increase in the number of museum and town tours for private groups. More guides are needed to help sustain this aspect of the Museum’s work.

Part of the Roman collection needs to be returned to Cambridge Museum for resting.

The Museum office has now been moved to the basement, allowing for more comfortable working conditions and storage. A new photocopier has been installed. The vacated room will now be available for new exhibition or storage space.

A new computer and cloud storage system was installed in 2021 and this is finally functioning, and training has been undertaken. This should allow us to start using a membership system called Membermojo and continuing the cataloguing of the collection on MODES.

The Virtual Museum has been prepared and will soon be on the Old Gaol website. It will be available in the museum, for less able visitors who cannot access the upper floor.

Most of the exhibits in the Roman case have been returned to the Cambridge Archaeological Museum following the completion of the loan agreement. A new display has been put in place, although some additions from local sources would be welcomed.

Jean Summers (Chairman of the Friends) resigned and the volunteer rota was undertaken by another volunteer. Due to the fall in members of both organisations, the Friends agreed to combine with the Trust. New volunteers, who are no longer required to be members, have been found to help with the shop rota and fundraising evenings.

3

Staffing

The building, museum and the museum shop continue to be managed and staffed wholly voluntary basis, although valuable day-to-day assistance is provided by TIC staff.

Financial Review

The net incoming resources for the year amount to £2422 after depreciation. The balance of unrestricted funds (those monies which were not identified for a specific purpose) at 31 March 2022 stood at £81122

Trustee’s Responsibilities in Relation to financial Statements

The Trustees remain resolved to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevention and detection of fraud and other irregularities

Accounts

A resolution proposing the re-appointment of BirchCooper Accounting Services Ltd as Buckingham Old Gaol Trust’s independent Examiner will be tabled at Annual General meeting.

This report was presented to the Trustees at its Trust Board meeting on September 6[th] 2022 in draft form, and formally approved by them on that date.

Signed………………………………………………. Mrs Joanne Thompson (Chairman)

4

Buckingham Old Gaol Trust Accountants' Report

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31[st] March 2022.

Responsibilities and basis of As the charity's trustees, you are responsible for the preparation of the report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's I have completed my examination. I confirm that no material matters statement have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or

the accounts did not accord with the accounting records; or

the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

BirchCooper Accounting Services Limited Accountants

Midsummer Court 314 Midsummer Boulevard Milton Keynes

MK9 2UB

5

Buckingham Old Gaol Trust Statement of Financial Activities for the year ended 31 March 2022

Notes
Incoming resources
Incoming resources from
generated funds
Voluntary income
3
Activities for generating funds
4
Investment income
5
Incoming resources from
charitable activities
6
Other incoming resources
7
Total incoming resources
Resources expended
Costs of generating funds
Costs of generating
voluntary income
8
Fundraising trading:
Cost of goods sold
and other costs
9
Charitable activities
10
Governance costs
11
Total resources expended
Net incoming (outgoing) resources before transfers
Gross transfers
18
Net incoming (outgoing) resources
Fund balances brought forward
Fund balances carried forward		 Unrestricted
funds
£
9,786
18,409
75
5,950
35,061
69,281
252
(3,861)
63,539
746
60,676
8,605
-
8,605
72,517
81,122		 Restricted
funds
£
-
-
-
-
-
-
-
-
6,183
-
6,183
(6,183)
-
(6,183)
199,308
193,125		 2022
Total
£
9,786
18,409
75
5,950
35,061
69,281
252
(3,861)
69,722
746
66,859
2,422
-
2,422
271,825
274,247		 2021
£
4,653
2,745
239
6,445
17,212
31,294
67
(115)
36,640
746
37,338
(6,044)
-
(6,044)
277,869
271,825

6

Buckingham Old Gaol Trust Registered number: 01950221 Balance Sheet as at 31 March 2022

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
Cash at bank and in hand
Creditors: amounts falling due
within one year
17
Net current assets
Net assets
Restricted funds
18
Contingency and repair
Unrestricted funds
18
General fund
Shareholders' funds		 2022
£
178,496
10,129
86,318
96,447
(696)
95,751
274,247
193,125
81,122
274,247		 2021
£
185,784
5,223
81,514
86,737
(696)
86,041
271,825
199,308
72,517
271,825		 2021
£
185,784
5,223
81,514
86,737
(696)
86,041
271,825
199,308
72,517
271,825
271,825
199,308
72,517
271,825

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Mrs Helene M N Hill (Chairman) Director Approved by the board on 23 September 2022

7

Buckingham Old Gaol Trust Notes to the Accounts

for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities SORP (FRS 102) 2019, applicable accounting standards and the Companies Act 2006.ln common with many other businesses of our size and nature we use our accountants to assist us with the preparation of the financial statements.

Cashflow

The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

Incoming resources

Charitable Trading Activities

Income from museum admissions, lettings and rents is included in incoming resources in the period to which it relates.

Commercial Trading Activities

Income from commercial activities (museum shop and tourist information centre) is included in the period in which the group is entitled to receipt.

Donations and Grants

Income from donations and grants, including capital grants, is included in incoming resources when these are receivable, except as follows:-

Interest Receivable

Interest is included when receivable by the charity.

Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis.

Tangible fixed assets

Tangible Fixed Assets are depreciated on a straight-line basis over their estimated useful lives as follows:

Freehold Buildings Restoration and Refurbishment C 2%
Fixtures and Fittings 5%-50%
Furniture and Equipment 20%

8

Stocks

Stock is valued at the lower of cost and net realisable value.

Fund accounting

Funds held by the charity are either:

Unrestricted general funds

These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated Funds

These are funds set aside by the trustees out of unrestricted general funds for specific future projects.

Restricted Funds

These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1.

3 Voluntary income

Donations & gifts - Friends
Donations & gifts - Other
Membership subscription		 Unrestricted
funds
£
-
9,070
716
9,786		 Restricted
funds
£
-
-
-
-		 2022
Total
£
-
9,070
716
9,786		 2021
£
-
4,230
423
4,653
Collection & Entry Fees
Events
Father Christmas
Group visit
Cell income rent
Shop income
Museum Shop & TIC sales
Investment income
Interest
Dividend		 Unrestricted
funds
£
10,340
1,222
744
210
3,000
2,470
423
18,409
Unrestricted
funds
£
75
-
75
9		 Restricted
funds
£
-
-
-
-
-
-
-
-
Restricted
funds
£
-
-
-		 2022
Total
£
10,340
1,222
744
210
3,000
2,470
423
18,409
2022
Total
£
75
-
75		 2021
£
571
(73)
1,750
497
-
2,745
2021
£
239
-
239

6 Incoming resources from charitable activities

Rent receivable
7
Other incoming resources
Buckingham & Gawcott Trust
Clare Foundation
COG grant
Covid-19 grant
Bucks lottery
Milton Keynes Heritage Assocn.
Richard III gold coin
Rothschilds Grant		 Unrestricted
funds
£
5,950
5,950
Unrestricted
funds
£
785
-
1,000
12,000
251
-
1,025
20,000
35,061		 Restricted
funds
£
-
-
Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2022
Total
£
5,950
5,950
2022
Total
£
785
-
1,000
12,000
251
-
1,025
20,000
35,061		 2021
£
6,445
6,445
2021
£
-
400
-
16,643
169
-
-
-
17,212

8 Costs of generating voluntary income

Unrestricted
Restricted
funds
funds
£
£
Advertising and Promotion
85
-
Event and Volunteer Expenses
151
-
Sundries
16
-
252
-
9
Fundraising trading: Cost of goods sold and other costs
Unrestricted
Restricted
funds
funds
£
£
Museum shop & TIC Cost of sales
(3,861)
-
Museum shop & TIC Admin costs
-
-
(3,861)
-
10 Charitable activities
Unrestricted
Restricted
funds
funds
£
£
AGM
497
-
Bank Charges
575
-
BMMT donation
2,500
-
Cleaning
1,365
-
Consumables
-
-
10		 2022
Total
£
85
151
16
252
2022
Total
£
(3,861)
-
(3,861)
2022
Total
£
497
575
2,500
1,365
-		 2021
£
-
67
-
67
2021
£
(115)
-
(115)
2021
£
-
348
-
431
-
Depreciation : Fixtures & Fittings
-
Depreciation : Furniture &
Equipment
-
Depreciation : Restoration
1,105
Exhibit facilities
-
Modes input
-
New facility
-
Insurance
7,508
Printing, Postage & Stationery
414
Rates and utilities
3,597
Repairs (including conservation)
21,389
Richard III exhibition
19,398
Sanatising
-
Software
342
Staff training & welfare
-
Subscriptions
298
Telephone
378
Wifi installation
4,173
63,539
11 Governance costs
Unrestricted
funds
£
Accountancy
746
Consultancy
-
Strategy day
-
746
12 Movement in total funds for the year
This is stated after charging:
Depreciation: Restoration & refurbishment costs
Depreciation: Furniture & equipment		 -
-
6,183
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,183
Restricted
funds
£
-
-
-		 -
-
7,288
-
-
-
7,508
414
3,597
21,389
19,398
-
342
-
298
378
4,173
69,722
2022
Total
£
746
-
746
2022
£
7,288
-		 -
-
7,288
224
87
10,089
5,272
336
2,253
9,172
-
427
-
-
184
529
-
36,640
2021
£
746
-
-
746
2021
£
7,288
-

During the year no trustee received any remuneration (2020 : £Nil)

13 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2021
Additions
Surplus on revaluation
Disposals
At 31 March 2022		 Restoration
& refurb
Costs
£
364,402
-
-
-
364,402		 Fixtures
& fittings
£
193,804
-
-
-
193,804		 Furniture
& equip
£
30,844
-
-
-
30,844		 Total
£
589,050
-
-
-
589,050

11

Depreciation
At 1 April 2021
178,618
Charge for the year
7,288
Surplus on revaluation
-
On disposals
-
At 31 March 2022
185,906
Net book value
At 31 March 2022
178,496
At 31 March 2021
185,784
15 Investments
Investment in subsidiary undertaking
16 Debtors
Amounts due from Buckingham Heritage Trust
(Enterprises) Ltd.
Other debtors
17 Creditors
Amounts falling due within one year:
Trade creditors
Other creditors
Other taxes and social security
18 Funds
Balance
at 31.03.21
£
Restricted funds
Fixed assets
199,308
Restoration & repairs contingency
& building repair
-
199,308
Unrestricted funds
Designated funds - fixed assets
-
General fund
72,517
72,517		 193,804
-
-
-
193,804
-
-
Movement
£
(6,183)
-
(6,183)
-
8,605
8,605		 30,844
-
-
-
30,844
-
-
2022
£
-
2022
£
-
-
2022
£
-
-
-
-
Transfers
£
-
-
-
-
-
-		 403,266
7,288
-
-
410,554
178,496
185,784
2021
£
-
2021
£
-
-
2021
£
-
696
-
696
Balance
at 31.03.22
£
193,125
-
193,125
-
81,122
81,122

12

19 Related parties

There were no related party transactions during the year

20 Employees
Average number of persons employed by the company		 2022
Number
-		 2021
Number
-

13

Buckingham Old Gaol Trust Detailed profit and loss account for the year ended 31 March 2022

Income
Buckingham & Gawcott Trust
Bucks Lottery
Cell income rent
Clare Foundation
COG Grant
Collections and entry fees
Covid-19 grant
Donations & gifts
Eds walk
Father Christmas
Grants
Group Visit
Interest receivable
Rent received
Richard III gold coin
Rothschilds Grant
Subscriptions
Shop income
Talks
TIC
Venue hire
Audit & accountancy
Advertising and PR
AGM
Bank charges
BMMT donation
Cleaning
Cost of sales
Event & volunteer expenses
Exhibit facilities
Insurance
Modes input
New facility
Printing, postage & stationary
Rates
Richard III exhibition
Repairs & renewals
Sanatising
Subscriptions
Sundry
Software
Telephone
Utilities
Wifi installation
Surplus before depreciation		 2022
£
785
251
3,000
-
1,000
10,340
12,000
6,070
44
744
3,000
210
75
5,950
1,025
20,000
716
2,470
104
423
1,074
69,281
746
85
497
575
2,500
1,365
(3,861)
151
-
7,508
-
-
414
451
19,398
21,389
-
298
16
342
378
3,146
4,173
59,571
9,710		 2021
£
-
169
1,750
400
-
571
16,643
1,230
-
-
3,000
-
239
6,445
-
-
423
497
-
-
(73)
31,294
746
-
-
348
-
431
(115)
67
224
5,272
87
10,089
336
-
-
9,172
427
184
-
-
529
2,253
-
30,050
1,244

14

Buckingham Old Gaol Trust

Detailed profit and loss account for the year ended 31 March 2022

Income
Depreciation
Restoration
(Deficit)/Surplus		 2022
£
7,288
7,288
2,422		 2021
£
7,288
7,288
(6,044)

15