Registered number 01950221
Charity Number 292807
Buckingham Old Gaol Trust
Report and Accounts
31 March 2024
Buckingham Old Gaol Trust Legal and Administrative Information
Trustees
Mr Terence Bloomfield Mrs Angela Brock Mrs Beryl Cootes Mr Phil Dutton Ms Sybil Edgar Mr David Fell Mrs Beth Hawking Mrs Joanne Thompson Mr Michael Wisbach Mrs Brianna Wyatt
Chairman
Mrs Joanne Thompson
Secretary Mr Michael Wisbach
Treasurer Mr Terence Bloomfield
Independent Examiner BirchCooper Accounting Services Ltd 26 Badgers Way Buckingham MK18 7EQ
Registered Office The Old Gaol Market Hill Buckingham MK19 1JX
Company Number 01950221
Charity Number 292907
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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 2024.
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. Bryony Norburn resigned at the 2023 AGM but the rest of the board were re-elected, Dave Bethell resigned subsequently. Mike Wisbach, as Company Secretary & Terry Bloomfield, as Treasurer, continue to keep the management of the museum running smoothly. The board has worked over the last year, to maintain the building (Phil Dutton), clean the collection (Joanne Thompson & Phil), catalogue the collection (Joanne & David Fell) and to increase fundraising activities (Angela Brock, Beryl Cootes & Sybil Edgar). Maintaining such an old building is a challenge. We have had further training on storage of the collection.
Beth Hawking has been membership secretary but is about to start her maternity leave so this role will be covered by Joanne. Brianna Wyatt has continued to use her expertise to advise on temporary exhibitions but also our plans to change the old office into a new exhibition space.
The Memorandum of Association with the Town Council defines our relationship with the Tourist Information Office. They provide a “Responsible person” to supervise our volunteer in the museum shop and undertake the weekly fire alarm testing.
Related parties
There are no related parties
Risk management
Housing the museum in such an old building adds to the risk for the charity, with unexpected maintenance costs, high insurance due to the listed status and recent storm flooding. Running the charity with only volunteers is a risk, especially as it is difficult to recruit the required number. Fortunately, an increase in the entrance fee and fundraising activities has improved our financial position and we continue with a small contingency fund. We mitigate the risk by planning a budget for the year. We are in discussion with a professional mentor to supervise our plans for re-accreditation.
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. We had a 3-year plan that outlined our objectives. As it was now Year 3, we reviewed our achievements and extended the plan until 2027. We have some major objectives to improve the fabric of the building, repair or replace the glass roof in the exercise yard and develop the old office as a new exhibition space.
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Achievements and Performance
We are continuing with our plans to maintain the collection by cleaning the display cases (we are about half-way through them) and the general environment. This has involved a private high cleaning company who will now come once a year. They will also now be cleaning the glass roof, sky-lights and external windows twice a year. We are checking the museum spreadsheet as we clean each case and have made tentative steps to start on the archive. Unfortunately, we still do not have enough volunteers to translate this on to the MODES database.
We have improved our fundraising both through hirings, particularly for paranormal events and fundraising activities. We opened 3 days in December 2023 for visits from Santa Claus, which was very busy and proved a valuable fundraiser. The decorations were particularly festive but it was very tiring organising the children and their carers so this year we intend to introduce a booking system. We had a very successful exhibition in the exercise yard for the 80[th] Anniversary of D-Day and will open again September for the Heritage Open Day.
We are working with the Paralympic Heritage Trust to improve our access for disability and special needs. We have introduced a touch trail and will be improving our website to help such visitors prepare before they attend. Unfortunately, lots of areas of the museum cannot be improved but the virtual museum tour on our dedicated computer is accessible via a lift in the exercise yard for those unable to navigate the narrow staircases in the building.
Our newsletter and membership updates are now working more efficiently but we need to increase our advertising for more volunteers and members and our social media presence.
We continue our beneficial arrangements with our tenants – the Tourist Information Centre, Giltswan (Mr Russell Cross) and Skyline Taxis. Mr Russell Cross also acts as our valuer for insurance purposes.
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. This grant is now in its third year.
Museum Report
The flood damage was all repaired so the mezzanine was again able to be used for school visits but maintenance is a constant battle in such an old building. We are considering the need for a flood defence door for the basement.
We have reviewed the fabric report of 2021 and will be instigating some further internal repairs. The old office and accession room needs re-decorating, which will be included in our plan for opening a new exhibition space.
A broken flag pole raised health and safety questions about the glass roof over the exercise yard so we have been in discussion with the original roof architect and the original glass company. The roof will be 25 years old next year. We are considering whether it needs replacing or an alternative style roof, which would require consent from Listed Buildings Planning. The heating and ventilation system have never been able to cope with the temperature variations of the exercise yard so we commissioned a report to suggest how to improve it. Altering the ventilation flow and installing radiant heaters has been suggested so we are currently trying to investigate the costs of these proposals. Such a large capital investment would require a grant.
We are still working on restoring one of the military cabinets so it can be re-used. A large oil painting has also been returned to its owner so this is another area that needs to re-designed.
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Metal racking was bought and installed in the accessions room and following some storage training we now need to check the archive. We are still unsure as to whether we have space to store the current archive or whether we will need external storage or to de-accession some of our collection.
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 (outgoing) resources for the year amount to £4285 after depreciation. The balance of unrestricted funds (those monies which were not identified for a specific purpose) at 31 March 2024 stood at £76824.
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.
-
Apply for re-accreditation when requested by the ARTs council
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Continue the cleaning process to enhance the life of the collection and the visitor experience. To
-
investigate repair or replacement of the exercise yard roof.
-
Continue careful management of the museum shop stock, to both reflect the historic building and
-
the museum continent and to maximise income
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Improve training of the volunteers and trustees
-
Grow the Buckingham Old Gaol Trust membership
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 the Annual General meeting.
This report will be presented to the Trustees at its Trust Board meeting on October 3[rd] 2024 for formal approval.
Signed………………………………………………. Mrs Joanne Thompson (Acting Chairman)
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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 2023.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the 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 statement
I have completed my examination. I confirm that no material matters 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
26 Badgers Way Buckingham MK18 7EQ
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Buckingham Old Gaol Trust Statement of Financial Activities for the year ended 31 March 2024
| 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 £ 6,565 23,338 438 6,563 6,988 43,892 674 (260) 40,834 746 41,994 1,898 - 1,898 74,926 76,824 |
Restricted funds £ - - - - - - - - 6,183 - 6,183 (6,183) - (6,183) 186,942 180,759 |
2024 Total £ 6,565 23,338 438 6,563 6,988 43,892 674 (260) 47,017 746 48,177 (4,285) - (4,285) 261,868 257,583 |
2023 £ 12,304 21,179 100 5,200 4,421 |
|---|---|---|---|---|
| 43,204 382 5,163 47,595 2,443 |
||||
| 55,583 (12,379) - |
||||
| (12,379) 274,247 |
||||
| 261,868 |
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Buckingham Old Gaol Trust Registered number: 01950221 Balance Sheet as at 31 March 2024
| 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 |
2024 £ 163,921 10,508 83,850 94,358 (696) 93,662 257,583 180,759 76,824 257,583 |
2023 £ 171,208 8,618 82,738 91,356 (696) 90,660 261,868 186,942 74,926 261,868 |
2023 £ 171,208 8,618 82,738 91,356 (696) 90,660 261,868 186,942 74,926 261,868 |
|---|---|---|---|
| 261,868 | |||
| 186,942 74,926 |
|||
| 261,868 |
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 Joanne Thompson (Chairman) Director
Approved by the board on 3 October 2024
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Buckingham Old Gaol Trust Notes to the Accounts for the year ended 31 March 2024
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 Costs Fixtures and Fittings | 2% |
|---|---|
| Fixtures and Fittings | 5%-50% |
| Furniture and Equipment | 20% |
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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 - Other Membership subscription |
Unrestricted funds £ 5,758 807 6,565 |
Restricted funds £ - - - |
2023 Total £ 5,758 807 6,565 |
2022 £ 11,865 439 |
|---|---|---|---|---|
| 12,304 |
4 Activities for generating income
| Activities Collection & Entry Fees Events Father Christmas Group visit Cell income rent Shop income Museum Shop & TIC sales |
Unrestricted funds £ 90 13,207 2,900 1,277 - 3,000 2,864 - 23,338 |
Restricted funds £ - - - - - - - - - |
2024 Total £ 90 13,207 2,900 1,277 - 3,000 2,864 - 23,338 |
2023 £ - 11,398 2,405 814 - 2,750 3,330 482 |
|---|---|---|---|---|
| 21,179 |
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5 Investment income
| Unrestricted Restricted funds funds £ £ Interest 438 - 438 - 6 Incoming resources from charitable activities Unrestricted Restricted funds funds £ £ Rent receivable 6,563 - 6,563 - 7 Other incoming resources Unrestricted Restricted funds funds £ £ Buckingham & Gawcott Trust - - Charities Trust 101 - COG grant - - Covid-19 grant - - Insurance claim 6,624 - Storage - - Bucks lottery 263 - Richard III gold coin - - Rothschilds Grant - - 6,988 - 8 Costs of generating voluntary income Unrestricted Restricted funds funds £ £ Advertising and Promotion - - Event and Volunteer Expenses 674 - Sundries - - 674 - 9 Fundraising trading: Cost of goods sold and other costs Unrestricted Restricted funds funds £ £ Museum shop & TIC Cost of sales (260) - Museum shop & TIC Admin costs - - (260) - 10 |
2024 Total £ 438 438 2024 Total £ 6,563 6,563 2024 Total £ - 101 - - 6,624 - 263 - - 6,988 2024 Total £ - 674 - 674 2024 Total £ (260) - (260) |
2023 £ 100 |
|---|---|---|
| 100 | ||
| 2023 £ 5,200 |
||
| 5,200 | ||
| 2023 £ - - - - 3,409 750 262 - - |
||
| 4,421 | ||
| 2023 £ - 355 27 |
||
| 382 | ||
| 2023 £ 5,163 - |
||
| 5,163 | ||
10 Charitable activities
| 275th Anniversary AGM Bank Charges BMMT donation Caretaking Cleaning Consumables Data protection Depreciation : Fixtures & Fittings Depreciation : Furniture & Equipment Depreciation : Restoration Exhibit facilities Modes input New facility Insurance Printing, Postage & Stationery Rates and utilities Repairs (including conservation) Richard III exhibition Room hire Sanatising Software Staff training & welfare Subscriptions Telephone Wifi installation |
Unrestricted funds £ 1,693 - 998 - 90 2,009 - - - - 1,105 - - 3,282 9,334 435 5,046 15,792 - - - 351 - 192 507 - 40,834 10 |
Restricted funds £ - - - - - - - - - - 6,183 - - - - - - - - - - - - - - - 6,183 |
2024 Total £ 1,693 - 998 - 90 2,009 - - - - 7,288 - - 3,282 9,334 435 5,046 15,792 - - - 351 - 192 507 - 47,017 |
2023 £ - 323 692 - 85 1,897 - 40 - - 7,288 1,500 - 3,618 10,377 514 5,546 13,551 1,090 20 - 248 - 395 411 - |
|---|---|---|---|---|
| 47,595 |
11 Governance costs
| Accountancy Consultancy Solicitor Strategy day |
Unrestricted funds £ 746 - - - 746 |
Restricted funds £ - - - - |
2024 Total £ 746 - - - 746 |
2023 £ 746 934 763 - |
|---|---|---|---|---|
| 2,443 |
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12 Movement in total funds for the year
| This is stated after charging: Depreciation: Restoration & refurbishment costs Accountants remuneration During the year no trustee received any remuneration (2020 : £Nil) 13 Tangible fixed assets |
2024 £ 7,288 746 |
2023 £ 7,288 746 |
|---|---|---|
| Restoration & refurb Costs £ Cost At 1 April 2023 364,402 Additions - Surplus on revaluation - Disposals - At 31 March 2024 364,402 Depreciation At 1 April 2023 193,194 Charge for the year 7,288 Surplus on revaluation - On disposals - At 31 March 2024 200,482 Net book value At 31 March 2024 163,920 At 31 March 2023 171,208 Investments Investment in subsidiary undertaking |
Fixtures & fittings £ 193,804 - - - 193,804 193,804 - - - 193,804 - - |
Furniture & equip £ 30,844 - - - 30,844 30,844 - - - 30,844 - - 2024 £ - |
Total £ 589,050 - - - |
|---|---|---|---|
| 589,050 | |||
| 417,842 7,288 - - |
|||
| 425,130 | |||
| 163,920 | |||
| 171,208 | |||
| 2023 £ - |
15 Investments
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16 Debtors
| 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 31.03.23 £ Restricted funds Fixed assets 186,942 Restoration & repairs contingency & building repair - 186,942 Unrestricted funds Designated funds - fixed assets - General fund 74,926 74,926 |
Movement £ (6,183) - (6,183) - 1,898 1,898 |
2024 £ - - 2024 £ - - - - Transfers £ - - - - - - |
2023 £ - - |
| 2023 £ - - - |
|||
| - | |||
| Balance at 31.03.24 £ 180,759 - |
|||
| 180,759 | |||
| - 76,824 |
|||
| 76,824 |
19 Related parties
There were no related party transactions during the year
| 20 Employees Average number of persons employed by the company |
2024 Number - |
2023 Number - |
|---|---|---|
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Buckingham Old Gaol Trust Detailed profit and loss account for the year ended 31 March 2024
| Income Activities Bucks Lottery Cell income rent Charities trust Collections and entry fees Donations & gifts Events Father Christmas Grants Insurance claim Interest receivable Rent received Shop income Storage Subscriptions Talks TIC Venue hire Expentidture 275th Anniversary Audit & accountancy AGM Bank charges Caretaking Cleaning Conservation Consultancy fees Cost of sales Data protection Event & volunteer expenses Exhibit facilities Insurance New facility Printing, postage & stationary Rates Richard III exhibition Repairs & renewals Room hire Solicitor Subscriptions Sundry Software |
2024 £ 90 263 3,000 101 13,207 583 516 1,277 5,175 6,624 438 6,563 2,864 - 807 - - 2,384 43,892 1,693 746 - 998 90 2,009 3,589 - (260) - 674 - 9,334 3,282 435 69 - 12,203 - - 192 - 351 |
2023 £ - 262 2,750 - 11,398 6,865 1,466 814 5,000 3,409 100 5,200 3,330 750 439 158 482 781 |
|---|---|---|
| 43,204 | ||
| - 746 323 692 85 1,897 1,198 934 5,163 40 355 1,500 10,377 3,618 514 883 1,090 12,353 20 763 395 27 248 |
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Buckingham Old Gaol Trust Detailed profit and loss account for the year ended 31 March 2024
| Income Telephone Utilities Surplus before depreciation Restoration (Deficit)/Surplus |
2024 £ 507 4,977 40,889 3,003 7,288 7,288 (4,285) |
2023 £ 411 4,663 |
|---|---|---|
| 48,295 | ||
| (5,091) | ||
| 7,288 | ||
| 7,288 | ||
| (12,379) |
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