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:
- Continue to maintain and preserve the Grade 2 listed Old Gaol as a building of historical
- interest.
- Defer the accreditation process until the collection has been catalogued and a collection care
- plan has been implemented.
- Continue to make improvements to the museum, including extending or improving displays as
- time and resources allow; such improvements to include replacing display cases to better protect and preserve existing artefacts and objects and to allow more to be added.
- Continue careful management of the museum shop stock, to both reflect the historic building
- and the museum continent and to maximise income
- Improve training of the volunteers
- Grow the Buckingham Old Gaol Trust membership
- Work to fill Trustee vacancies
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:-
- When donors specify that donations and grants given to the charity must be used in future accounting periods.
- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions are met.
- When donors specify that donations and grants, including capital grants, are for particular restricted purposes, this income is included in incoming resources of restricted funds when receivable.
## 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|
- **4** _**Activities for generating income**_
|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|
||||||
- **5** _**Investment income**_
## **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