REGISTERED COMPANY NUMBEIL. 01964697 (Ellgiand and Wales) REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR PRESERVATION TRUST COMPANY LE￿i[TED 32 Th¢ Square GilliDgham ]J)rse¢ SP8 4AR SHAFTESBURY ABBEY AND MUSEUM PRESERVATION TRUST COMPANY LIMiTED for the Y¢*r Euded 31 December 2f123 Page Rewtyrt ofthe Trllste I to 4 IDd¢p￿dent Examher's Report Stat•tteD¢ ofFin*nd*l Adfvfili ststemeot of fw*nci•l Positlo 7 to 8 Not￿ to the Th￿￿ellI Ststern￿ts 9 to 17 Det#lled St*tement of Flttwlal A¢dvities 18 to 19 SHAFTESBURY ABBEY AND MUSEUM PRESERVATJOf4 TRU￿ COMPANY LIMrrED REPORT OF THE TRusfELS for the Ye•r EDded 31 D¢¢¢mb¢r 2023 The trustees who a￿ also direc￿ of th¢ cbaTity for pwpO￿$ of the Companies A¢t 2006. present tbeir report with the fu)an¢ia] statements of clwity for the year ended 31 December 2023. The trustees hav¢ adopted the provisions of Accounting and Rep)rtuig by Charities: Statement of Recom￿ Practice 8ppIiL7ble to charities PTeparing their accounts ill a¢¢ordance with the Financial Rep)rtitig StsDdwd applicable in tr UK and Republic of Ireland (FRS 102) (effective l January 2019). The financial statem¢nts have been pre>wed in ￿rdlln￿ ￿￿th the ac¢outhg poli¢t¢s set out in the notes to the accournts and comply with the ¢bartlys govaning d(￿￿L the C]wities ArA 2011 and Accounting and Reporting by Charities: Statenwtt of R¢¢onJm¢llded Pr￿tICe applicable to charitie5 preparitig th¢ir wunts in accoTdance with th¢ Fitiancia] Reporting Stsndard applicable in the UK and Republic of Jreland pthlish¢d on 16 Juty 2014 as amended by Upjate Bull¢tin I publish￿ on 2 February 2016. ObJectfveJ and aln The stated objectives of the Charity. dwnnent¢d in its rn¢rnOT8ndum and article5 of awlatio￿ are to preserv¢ the ancient remaiJ)s known as Shaftesbwy Abbey, to maintain a museum displaynig finds from the Abbey sifr. and to promote learning about the Ablw. its people its impwt on YKTety througbout its 650.yearhistory. The mweum also Signifjcant aetivlt5¢y NornRlly, the charity opths Sh8ftesbwy AEthy Muse￿￿ and Garden to the OD a daily b&8is from l April to 31 October. and at several tirnffj mainly weekends ID other D￿Trths of the year. Jn 8dditioll to openlljg the museum and gudeD4 tbe clwity works I(￿1 gcbools and offer5 Teseth fa¢ilities for students of all ages to promo* leamin& a￿ut the hi• and h￿Itsge of Sbaft¢sbury Abbey and the infiuence of the women religious wbo lived I￿[¢. The chaTity forrnany years also cOllaL￿rAted with local community organi5ations to act &8 a venue for events including the town's Snowitrop F&stivaL F￿d & Drink F¢stival and Shaftesbury Fringe. a￿￿￿1¢ and arts festival. Public beDefrt Th¢ trust¢¢s confinn they have refeTred to the guIdw￿¢ cotstsined in the Charities Conmiission's genernl 8uidance on public benefit wben r¢viewing the Charitys aims and (rtJje¢liv¢s in the plamiing of fi]tw¢ aGtivitie& The charity bas offered fr¢¢ enty to all visitors since 2021" in comparison to ewlier years when admission charges applied annual visitor Thumbers have trebled to over 35,1)W people iu 2023 (over 33,000 in 2022) with many making repeat visits. Volunt¢¢TS Volullteers play a majoT role in preseTW the Althy sile and kwing it open foT ViSitoN Al￿t 50 regularly devote several hours per week during thc Op￿ se&son welcoming visitor4 answiDg qu&stiODS about the Abbey and its p¢opl¢. at)d s¢rving ID the Museum's r¢thil areas. Sn)aller t¢aDts of volunteers use their wior profrs5iollal ¢xperience and skills in the Archaeolo￿ T￿ the Collections T￿ the Ed￿￿tIOn Team and the Gardeus Maintenance Tea￿ whilst some The chaTity makes use of Yoluntrff train1ngpr0grn￿ atKI ev¢nts many ofwhich are provided by the Dors¢t Museums tn all some 75 volunteers bave a regular role at the Abbey. some using their ¢xistsng ￿1{11￿ while others kjrn attd develop Dew 5kilb. SHAFfFSBURY ABBEY AIYD MUSEUM PRFSERVATION TRUST COMPANY i1￿IfIED REPORT OF THE TRUSTEES ror the Y￿r Ended 31 December 2023 Charitable aetivities The rna1￿ cbaritabl¢ activiti&8 of presery1￿ the ancient ￿mal￿ of Shaftesbwy Abiw and opening Shaftesbuty Ab Museum & Gardens to th¢ pub]ic were suFwrted during 2023 by * of £4,650 in r¢stricted fund8 (£16.720 in 2022) and £6,500 in UDrestri¢ted fimd8 (£5,500 iti 20221 The activities r¢wlbJ ID 35.806 members of the public being welcomed to the Abbey ID 2023 (33 J27 iti 2022). Schools throughout the UX were particul￿ty badly afft¢ted ty cLY(Kwvirns restricti￿$ and many have found it difficult to recover, 3 s¢hool visits to Shaftesbwy AbEy took plac¢ in 2023 (2 ill 2022). However. the Education Team orgattised seYeTal child.f￿usS¢d ¢vents i￿lUding & VQiog Day a￿1 Pilg￿ Trail 2023 in OTd¢r to maintsin the imterest of young pwl¢ yth the Abtw and its Many of the prevpandanic regular co]]aboTrtive events in Shaftesbwy such &% the FOLKI & Drink Festival and Shaft¢sbwy FriDg¢ Festival were once agaiti held in 2023. after maoy of them Iwl bc*n caJLcelled thing ¢oviiL with Shaftesbury Abbey how many of their actkvilies &% well a8 our own 'special ¢vents' such as concerts, lecture exhibiti￿ and opeTrvair plays in the Ablw Gard￿. FinaDci*I po$ltloD Operation5 The tswtees d¢¢ided at th¢ siart of 2023 to make perllwient the waiver of all thissions charges (but continue to welcome donations from visitors and supporters). ODrx again this resulted in a significant in¢reLqe in v15iior numbers compared tr) the PTior year with concomitant in￿ra￿ in wtrGift Aid donatkons and r¢tsil sales. In 2023. the 35,806 visitors g¢nerated £18.497 it) donatio￿￿, £4.963 ID ev¢nts. and £27235 rctsil sales and £408 iti lodge hire" a total visitor income value of £51,103 (ttK equivalent value of donation4 ¢v¢nts and Tetail Sales income from the 33,327 visÉtors in 2022 w&8 £50,650). Sp￿la1 Projects The renovation of the Abbey ￿ a special woject begun in 2022 being completed io March 2023, inrurr¢d total renovation costs of £39,016. The projecl wed Jnainly Te5tr*ted fimdll￿ from a vaTiery of sources plus the ¢baritys OWTI c￿h reserves.The objective wLs that th¢ building could be ￿sed as an ext￿$100 to the Museu[￿ providing additional exhibition space. meetinW]xture facilities for community groups and school visits a (kdicated likny and mwh.needed additional arcbaeological storage space. Th¢ first mid.seuTrn lectures. 8￿deD￿re1dted workshops. Board Meetings and ar¢haeology team se&8iOllS took pi¥e Ill gJmmer2023. replacementr. a replaC¢m￿t was iDstsJled in May 2023 #t i cost of £2,705 which was 9(Wo fillthd by a gwt from Shaftesbury Charitable Tn In March 2023 tbe cl)arity Wds aW￿ded and receiv￿ 509A of a Dorset Council Community & CuE¢ure Fund m of £4,500 tOW2rds a proje¢t to upgade th¢ ￿￿,5 di￿¢81 ll)fraS￿ and c0nllni￿l0ll a series of short videog about the Abbey as inte￿￿ p￿ts of its loDg-term Digiial Museum DevelopDKnt 5trdtegy (the remaini￿ 50•/0 beimg due ¢)n project Col￿pICtion inmarth 2024)" £l,W had been SF¢nt bythe Y￿ ReseTYes poiiey The £20.756 fiuNls in the bank or in hand at the 2023 yw-end and that of £21J42 iti 2022 are somewhat low¢rthan at PT¢ViOUS year-ends m4iD]y to expenditLwes on restrict•1 proje¢ts. the fnts*es have therefore determitied tI￿t 2024 should be a "year of fiD8ncial ¢￿s0]Id*10n. and a strategic gog1 of irKMing year-end reserves to cl￿a £30-35.000 within 3 yearn sbouid be aitued ts. Governi￿2 doellDient The organisation WL8 established as a ¢ompry ]1[DI￿ by 8uaranttt reg￿￿ as 4 ciwiry on 7th January 1986. The ¢(wany is controlled by its governing th)cuW the Memorth & Articles of AssOcialyo￿ and Constitutes a limTt¢d ¢ompany, limited by giiarantee. as d¢fined by the Companies Art 2006. The liabi]ity of each of the members in the event of th¢ Con4)8ny being wouttd up is limited tt) a swn not excttding £1. SHAFTESBURY ABBEY AND MUSEUM PRESERVATtON TRusf COMPANY LIMfTED REPORT OF THE TRUSTEES for the Year E•ded 31 December 2•23 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment 4od appointment of trnstees One third of all board members are requirul to retite at exh annual genmi nIeetI￿ by rotatioo where they are elI￿￿le for Terflection. Organtsational 8truethr¢ The board is llwle up of not1¢&8 than 4. normore than 12. tnL*es ￿1¢h shall ]￿lUde not le&8 thatt one Councillor from each locally relevant cfjuncil. The cknity employs a managff and a part4ink and h&s a team of volunteer stewaTds who ¢)n & rota to k¢¢p the museutn opeo. Related p4rtle8 The following InLStee is also a Tepresfflkn of ac￿￿ll.. MrA P Proctor (shaft<￿trY TOWD c(Kll￿1 MrD Beer (Dorset CO￿￿11) REFEBENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 01964697 (Eng]and and Wales) Regtstered Charity number 293260 Registrred otrice Park Walk Shaftesbury Dorset SP7 8JR Trn5tees Mrs S Jacson Company Director A P Proctor Company Director P G Ryley Retired Mrs C L Ryley Retired J E Pierce Retired D Pearson Retired P Wildman Retired Dr D M Jones Retir&J Dr D S Edwards Education Consultant Dr J C Richards Consllltant Arthaeolo R Sts]ker (appointed 23.1.23) COM￿nY Secretsry P G Ryley SHAFTESBiJRY ABBEY AND bfUSEUM PRESERVATION TRU￿ COMPANY LIMtTED REPORT OF THE TRusfEES for theY¢*r Ellded 31 December 2023 Independent ExAmlDer Philip L£51ie Bevis FCA FCCA Alldrews Pakner i Chartered Accountants 32 The Square Gillingham Dorset SP8 4AR This wort bas been pttpared ill accordan￿ with the spec￿1 provi41￿9 of Part 15 of the Collw)ies Act 2006 relating Approved ty order ofthe board of trustees on 12 2024 and on its bdulfty: P WildmaD. Tntstee INDEPENDEf4T EXAMINER'S REPORT TO THE TRUSTEES OF SHAFfESBURY ABBEY A]¥D MUSEUM PRESERVATION TRUST COMPANY IJMITED IndepeDdeJt examiner's repDrt to the tru￿¢¢1 of Sh*ftHbury AblKy •Dd Mosemm Presem¢ion Trust CompAny Limited {'the Company,) I r¢wi to the cl]arity trllst￿ oo my eXa[ni￿On of the acc(Mmts of the Cwly forthe year ended 31 Ikcember 2023. Ru￿nSIbIlItIeS amd b8sls ofreport As the chariW$ tnthes of the Company (PJHI also its dI￿￿t0￿ for purp￿ of company law) you are respoDsiI)le for Having satisfied tnyself that the accounts of the Compthy are T￿t rffjui￿I to be awJit¢d Part 16 of the 2(K)6 Act and are eliwTrJle for independent examin￿0￿ I report in respect of my examination of your chariws accounts as ¢arried out under Sedion 145 of the Charities Act 2011 Cthe 2011 Act?. ID crying out tny examinthn I have followed th¢ DiT¢Ctions givffl by the Chtrlty Comuji￿lon under S¢ctiOD 145(5) (b) of the 2011 ACL IndependeD¢ ¢￿MiDe￿I 51*tement I bave ¢ompl¢ted my exarniDation. I confirm that no matth have c(Ane to my allenlion cowiection with the examiDatioll giving me cause to believe: a¢¢ounling records were not kept in re4)ee¢ of the Cthllpany &% required by secti￿ 386 of the 2006 Act. or the accowhts do eompty with the accounti￿ requirements of Section 396 of the 2006 A¢È other than any requirementthat the ar£4)unts gÉve a InK aThJ fair view wbich is not a matter ￿nSIdern1 &s port of an independent ¢￿amInatIOn. or the 4¢counts have not been prep￿ed in &C￿)rdanCe with tbe tnethods and principles of the Statement of R¢comrnended Practice for accountillg and rewtiDg by cI￿ltIeS {app]icJbl¢ to charities preparing their a¢¢ounts in accorthce with the Financial Reporting Standard applicable in tbe UK and Republic of Ireland (FRS 102)). J have ]Jo Conce￿ and b&Ye Mne acro￿ no other matter5 in conneLtion with th¢ ¢xamination to whith attention should be drawn in this trport in order to ellable a pri￿￿ understsnding of the a¢￿￿nts to be reache(t lthilip Leslte Bevis FCA FCCA The tnstituts of C])art¢red Accountants in and Wales Anilrews and Palmer tAd Chartered Ac¢ountants 32 The Square Gillingbam Dorset SP8 4AR 12 Jun¢ 2024 Page 5 SHAFfESBURY ABBEY AND MUSEUM PRESERVATION TRU￿ COMPANY IJMrrED UNCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 Dec¢mber 2023 31.1223 Totsi fiind8 31.12.22 fimds Donations and legacie5 18.947 18,947 28.555 Ch#rltable •dlvltleg Mugeum and Garden 6.5(Kl 4.650 11.150 22,220 32.606 912 32,606 912 27,435 846 Total 58.965 4.650 63,615 79,056 EXPENDfnTRE ON Raising fjjnds 16.611 16.611 14225 Cbaritable xetlvitl Museum 8t￿ CrdTd 40.7H 4.992 45.736 53.133 TDtsI 57J55 4.992 62.347 67,358 Net gal￿￿00$￿) on investments (247) (247) (1.133) ET INCOMFJ(EXPEND]TURE) lJ63 (342) 1.021 10.565 RECONCILIATION OF FUNDS Totsl finds brought foThvard 71214 246,101 317.315 306.750 TOTAL FUM)S CARRIED FORWARD 72,577 245.759 318J36 317,315 PAtrp. SHAFfESBiTRY ABBEY AND hlUSEUM PRFSERVATION TRusf COMPANY LIMrrED ATEME￿r OF FINANCtAL posrrioN 31 Deeembtr 2023 3E.12.23 Totsl 31.12.22 Total funds funds funds Tangli )le assets Heritsge &￿ts Inv¢sunents 45269 224.977 270246 4.000 16.369 273219 4.000 16.616 12 13 E6J69 61,638 228.977 290.615 293.835 CURRENT ASSETS Stocks Del*or% Cash at bank arnl in hand 14 15 6503 1.716 4.024 6.503 1.716 20,806 5,586 841 21.315 16.782 12243 16.782 29,025 27.742 CHEDrroRS Amounts fallÈDg due within one y¢PT 16 (I J04) (I J04) (4262) NET CURRENf ￿ETs 10,939 16.782 27.721 23,480 TOTAL ASSETS LESS CURRENT 72.577 245.759 318J36 317,315 NET ASSETS 72.577 245,759 318.336 317,315 17 Unrestricted filnds: General fiu)d Restricted fjJnd3: Capital SAVED 72,577 71.214 214,904 14,342 8233 2.340 2,970 2,970 216.008 13,507 8,276 2.340 2,985 2.985 SDAG DC Capital Leverdge Fund Dr D M Jones 245.759 246.101 TOTAL FUNDS 318.336 317J15 The charitable company is entitl*J to eXanpti￿I from pMdit urth Sei*Éon 477 of the Conwi¢s Act 2006 for the year ended 31 tkcember 2023. The Mem1￿ have not r¢quirNI the company to obtain an audit of its finall¢ial statements for the year ended 31 Delenkn 2023 in accordance with s#t1(￿ 476 of the com￿leS Act 2006. SHAFfLSBiJRY ABBEY AND MUSEUM PRESERVATION TRUST COMPANY LIMrrED STATEME￿ OF F￿ANc￿L posmoN. contlnued 31 Dttember 2023 The tnts¢ees acknowledge theirresponsi￿11jl1es for (a) that the charitable compaty keeps accowiting that comply with Section$ 386 and 387 of the Companies 2006 and (b) preparnig fllMn¢ial statetn¢nts which give a tnK and fair view of th¢ slate of affairs of the chari¢abl¢ company as at th¢ eDd of eath fmancial ￿ and of its SUTph￿ or deficii for each finaDcial yw in accordau¢¢ with the requirenwts of Sectiolls 394 aDd 395 and wbi¢h othenvi5¢ wnply with th¢ requiremertts of the Conwllies Act 2006 retsting to fmwial statements, so far &s appli￿1¢ to the cTrATilable c4)M￿y. SUbi￿t to the small compati1￿ re￿￿¢. The financiat s14tments wer¢ OP￿￿Ved by the Bo&rd of atrj authori%d for igsue on 12 Jun¢ 2024 al￿ were sigued on its behalf by. P Wildtyw. TTU5tee PAVP. A PRESERVATIOf4 TRUST COhtPANY LIMITED NOTES TO THE FINANCIAL sfATEMENfS ror the Y¢ar Ended 31 DEl￿￿tr 2023 ACCOUNTING POLICIES Bas1$ of prep8ring tbe fm8nci*l sl*temeDts The financial statements of the charitable Coll)￿y. wbicb is a publi¢ Ixnefit entity uth FRS 102. have been Prepared in accOrdw￿¢ with the Charities SORP (FRS 102)'A¢counttng and Reporti￿ by Charities: sta￿ent of Recommended Practice applicable to charities their accounts in acwTdw with the Financial Reporting Standard applicable in the UK and Rewblic of Ir¢l8nd IFRS 102) (effective l January 2019),. FiDaTJcial Reporting StaDdard 102 Tr Financial R¢tM)rting Standard appli¢able in the UK and Republic of Ireland, and the Comp2Thies Act 2￿6. The financial statemfflts have been prepared under the historical c05t Conventi￿ with the exception of investtnents ￿1¢h a￿ in¢hMtsA at market value. The charitable compw bas takeD 7Aivantsge of the following disclosure exaiiptkrn in prepaTing th¢5¢ financial stalemenl4 as wmitted by FRS 102 Tr FiTLaDciai Re￿I]llg Statwtsd applicable in th¢ UK and R¢public of Ireland.: ltteome All incorne is T￿O￿ls¢d the Statement of Financial Activities once the charity h&8 C41titleuwtt to the fi]nds. it is probable that thc irt¢￿￿e will be rwxived and the amount (an be me&gured reliabty. are UDrestricted fi￿dS ￿ aside at the discrnion of the Tn￿ for specific pur￿5¢5. Donation5 for ￿tiVIti¢$ restri￿ed by the wish&s of the donor are tsken to ￿eStriCted fill￿, where these wishes are legally binditig on th¢ TnLStees. DonatiOThS Tquired to rets]n￿J as in accordanc£ with the donovs wish¢s are accounted for 'endown¢nis'. P¢Tmantht or expendable according to the T￿￿¢ of the re5tridx)n. The levels of reSe￿¢S held in each fimd are disc105¢d in the not&s to the fjnancial 5tateme*ts. Grants Teceived axe included as iwome ftom ¢I￿[lable a¢tiviti&s, but included in restricted fim&4 wbere the gront is specific to a particular projecL Grdnts are a￿ted for on the b&sis of the receivable for the year. Expenditure Liabilities are recogn￿ed as eX￿dIts￿¢ as soon as there is a leB&l or co1￿￿ve obligation cATrnm)itting th¢ charity to that expendi￿ il is wobable that a transfer of economic benefits will be requir¢d in scttl¢m¢nt and th¢ amount of the obligation can be me&%ured rcliabty. E4x]￿lI￿re &s accounted for on an acmjals basis 8nd has been ¢]￿lfied under headings that agrne all cost r¢lated to the category. Where costs cannot ￿ diredly attr]b￿ed to partiats h￿iti8s they bave bm all￿ to a(#ivitigs on a basis wnsisteDt with th¢ use of T4ngibl¢ flx¢d *￿et$ Iwiation is provide41 at the follow￿8 annual rdtes in order ts) write off eoth asset oY¢r its estxmth usefi life. F￿ebOld prowty Fixture5 and fittings . 2511A on re41ucing balance Herh&ge auets The charity owns the AbFKy TUi]L8 and walled garth which are heritage &%sets. The items in the mwqeum Stocks Stocks are valued at the lowff of cost and Det realisable Vdh*. after makxng due allowdnce for obsolete and slow moving items. Taxation The charity Is exempt frojn corpratiOD t&x on tts cbaritable xtbvities. Page 9 SHAFfESBURY ABBEY AND MUSEUM PRESERVATION TRusf COMPANY LIMITED NOTES TO THE FINANCIAL sfATEMENTS. tODtillued for the Year End*1 31 Deewb¢r 21123 ACCOUNllNG POLICIES. l￿￿thI￿Cd Fund ￿e0￿￿tIng UDrestricled fi]nds can ￿ used iti ￿￿Kdance with the d￿lIable obje¢tiv¢s atthe discretion of the trustee& liestricted fim&8 can ollty be used forp•Jti¢ular re5trirtd pw withio the objects of th¢ thaTity. R¢5trictions Fkn*ncial &￿trnmentS The ¢lwity only b&8 financi￿ *￿ets and liabili¢i¢s of a kind that qualify ￿ basic finaucial instrutwts. B&8ic fjnancial instrumenls are illitta]ly reewIs￿ at traD3adtOll Value and *uenity measured at their settlement Value with th¢ exception of bauk loarL8 whith are subsequeDtty m￿yred at amortised cost using the effectiv¢ ittterest meth(ML Donated goods servkes Volunteers are essential for the nlltning of the and the maintenan¢¢ of the gth. It would be very Debtor* Credltors Cleditors and provisioDS are Twised whe¥e the rjwity has a I￿e￿ obligation r¢sulkng from a event that will probably result in the transfer of fuD(ts to a third patty and the atnounl due to settle the obligation can be allowing for any trade dis¢ovnts due. DONATIONS A￿D LEGACIES 31.1223 31.12.22 18.947 28￿55 31.12.23 31.12.22 Funthising eVe￿ts Shop incon Plant sales lkndg¢ hire 4.963 25,666 1,569 408 3,017 22,842 1.576 32.606 27,435 Page io SHAFfESBiIRY ABBEY AND MUSEUM PRESERVATION TRU￿ COhSPANY LIMTfED OTES TO THE FINANCIAL ￿ATEME1￿[s. for the Yur Ended 31 Deeemlxr 21123 lNVFSTmE￿ INCOME 31.12.23 31.12.22 Other fix¢d wet invest. FII 912 31.1223 31.12.22 GTants 11,150 22.220 Grants rKeive& Includ￿ in the above, are as follows: 31.1223 31.12.22 shafte3b￿Y Council Shaft