THE CRYSTAL PALACE MUSEUM (A Company Limited by Guarantee) DIRECTORS, AND TRLISTEES, REPORT ACCOUYTS FOR THE YEAR ENDED 31 DECEMBER 2020 Registered Company Ywnber 01983852 ngland and Ilalesl ReStered Charit) Number 293693 Gibsons Financial Limited Chartered Accountsnts Foresters H1 25-27 Westow Street London SE19 3RY
.HE CRI'STAL PALACE T¥fusEUM - LoTpany Litnited by Guarantee) LEGAL AN'D ADMINtSTRATIVE INFOILMATION DIRECTORS TRUSTEES.. K.Kiss S.B.Prideaux IL Ivatkins A.C. Pearce M Il'aters (resign 11107120) J c1k IrGsigned 02106120) E Priesi (appointed 02106f20) SECRETARY.. J.B. Prideaux REGISTERED OFFICE.. Valiant House 12 Knoll Rise Orpington BR6 OPG COIMPALN'Y REGISTRATIOY NUWBER.. 01983852 CHARITY REGISTRATIO.N,NIUMBER.. 293693 ACCOUNTANTS.. Gibsons Financial Limited Charteted Accountsnts Forestrrs Hall 2i-27 Westow Street IA)ndoTt SE19 3RY INDEX.. Page RetK)rt of the Directors and Trustees 34 Report of the Accountants Statement of Financial Activities Balance She£t Noies to the Fmancial Statements 8-10
-IE LRISTAL PALACE MUSEU ."Trpany Limited by Guarantee) REPORT OF THE DlliECTORS AND TRUSTEKS- YEAR ENU)ED 31 DECENIBER 2020 The direcrS and trustees have pleLgure in presenting their repon and accounts for the }¢tr ended 31 Decernber 2020. OBJECTS OF THE CHAIUTY. PRLNCIPAL AcrtlTfIES.4)I) ORGAN15ATION OF OUR WORK The chality was constituted as a compaa), ]imiied b!. truaranEee in January 1986 and is therefore governed by a memorandum and anicles of associallon. It is also reiSred as a Charity. The principal object of the charity 15 the pttsmotion and preserN'ation of the Crystal Palace museu for the benefit of the public. The museum is conc¢rned with the hiSr5, of the Crystal Palace tKTrth ai H!,de Park and at Sydenham and also collects, documents. preseTh'es. exhibils, and interprets material evidence and associated inforniation for the public benefit 7th free admission dutints i¥'eek¢nd openings. weekday organised visits and Iks in the Ustrn. The trusiees therefore cc>nfum that they have complied with their duties under Section 17 {5) of The ChaTities Act 2011 with regard to the Chariry Comtni&%ion's guidance on public benefiL REVIEM, OF THE I'EAR AND FUTURE ACTIvrrtES The diffctor5 and rrusiets regatd the financial position and the level of aciivity of the charity at 31 December 2020 as satisfaciopJ' and forecasi that this siwation will coniinue in the foreseeable futu. The Stalemeni of Financial Activities shows net incon]ing resources of £26.081 for the year and reserves now stand at £82.565. RESERVES POLICY The Charity aims to mainthin a Tninirnulll level of reserves as r0MMended by the Charity Co[nIS$l0n as prndent finan¢ial management The.Directors and Trustees. believe it is prndeni to nlaintain a level of reserves Commensurate with [[Intainin0 services for a minitDUm periiKI of six months io ether with honouring all contracted liabilitses Af for a ld greater than six months. DIRECTORS TRUSTEES All directors of the company are alg) trnstees of the clwity. and there no other ttustees. The followkng have held offi¢e as directors and ttustees in the peri1 uTrderrevi¢w from l January 2020 to the daTr of this reEx)rt.' K. Kiss J. Ptideaux R. Watkins A.C Pearce Y Riley M Waters (resigned I IA)7r20) J Clark {resigned 0211W_)O) E PriGst {appoinwl 02J06120) RECRUITNIEYI r AND AppoIf+ThNT OF MANAGLI1T COMMITTEE The direcwrs of the company are also charitv mjsiees for the purpose of chatils, law and under the company's articles are known members of the Management Cornmittee. Under the requirements of the MernorandLtm and Articles of Associaiion the m¢mbers ol the Managernent Committee ore ele¢ied to serve for a period of Iwelve monihs afw which they musi re-elected & the nexi Annual General Meeting RISK MANAGEMLNT The tDJStees actively review the F[jor tisks which the charity faces OD 2 reoulaJ basi5 ond lIeVe that maintaining reserves at curreni levels, colnbined an annual review of the controls over key financial Sy8ms, will provide sufficient resources in the ei'ent of adverse ¢onditsons. The trustres have aLso examined the other operaiional and business risks faced by the charity and confirni that they have established Systems to mitigate the si.tsnificant risks. STA TEMENT OF DIRECTOILS. Af4D TRUSTEES, RFSPOYSIBILITJES The directors and trllstees are required by company law 10 prepe Financial S(a(ements for each financial year which gives a true and fair Yiew of the financial activities of the chariiy and of its financtal position at the cnd of the y.
. ,-IE CRI"STAL PALACE MUSEUM . iompany Limited by Guarkmiee) REPORT OF THE DIRECTORS AND TRUSTEES - YE.4R E)DED 31 DECEIIBER 2020 ICONTLNUED) In preparing those Financial Statements, the directors and trustees are required (a) Seleci suitsble accounting KKkb"cies and then appl!, the]n Consistently. (b) Make judgements and estimates that are reasonable and pnKlenL Ic) State whether the policies adoptrd are in accordance the Cotnpanies Act ?IKkS and with applicable accounling standards and stttiements of recotnmended practice. subject to amy MaTial departures disclosed and explained in the Filn¢la1 SthtrEnents: Id) Prepare the Financial staments on the ooing concern basi5 unless it is inappropria* to pre5llrne thai the charity conunlle in operauon. (el Observe the methods and principles in the Clwities SORP. The directors and tsustres ate resnSIble for keeping Pro accounting records which disclose with reasonable accuracy at anj titne the financial positioll ol the charitv thereb5' enabling them to ensure that the Financial Ststements comply wilh the Companies Act 2006 the Charities Aci 2011 Ènd regulations made there under. They are also responsible for 5a£eEuarding the assets of the charity aftd hence for tsking r&aSoabIe steps for the prevention and dete¢tion of frdud and other irregulatities. APPROVAL This report was approved by the EKMrd of dIrecrS and ttUSEees on 21 Sepiember 2021 and sioned on its behalf. J B Prideaux - Seerew l Trnstee
."HE C'RYSTAL PALACE MUSEUVJ -* copanY Limited by Gu3rdtktee) REPORT OF THE ACCObNTANTS TO THE DIREcfoRS & TRUSTEES As described on the balance sheet you are rtsponsible for the pRparation of the fllkn2ncial StaTrents for the ye ended 31 December 2020 set ollt on pages three to trn and you consider that the company is exempi from an audit. In accordance with your instrlletions we hai'e compiled these unaudit¢d financial sutements in order to assisi you to fulfil your statutory responsibiliues. ftom the cOunting records and inforniation and explanations supplied 10 us. Gibsons Financial Litnited CILartered Accountallts Foresters Ha]1 25-27 Westow Street London SE193RY 21 seprnber ?O?I This page does not fotm part of the stswtory fitlancial statetnents.
. HE CRYSTAL PALACE MUSEUM -4 Company Limited by Guaran) STATEMENT OF FINANCLIL ACTtITrt FOR ITAR EED 3151 DECLMBER 2020 2020 21>20 2019 2019 Restricted Unrestricted INCOM1Tr4G RESOIIi Voluniary IAcom¢ Donations Acrtviilesfor Generutvig FWUL 30.162 5.487 tnteresi Received 14 26 VE)luniary Fees fro]n museum visitor5 1083 32259 4.551 10,064 TOTAL EqCObftNG RESOURCFS 32.259 10.064 RES0[[R EXPENDED Costs of Generating Funds . Rat¢S 353 - Insurdnce 1.889 - Lighi & Heat 1.656 - Securiry 899 4.643 1.312 6.465 OTHF,R RESOURCES EXPENDED GovernaDct Costs Telephone 20 Print. Postage & Stationery 659 Gen¢T21 1.202 Trdvel ioi 312 Accouftiing Legal 13 13 Depreciafion 497 1.535 554 2,763 TOTAL RESOURCES EXThED 6.178 9.228 T LNCOME POR THE ITAR 26.081 836 Fund ba]ance5 at Isi January Transfer betweetl funds 26332 30.152 25,542 1461 30.1(h5 46 Fund balance5 * 31 Decetnt*r 51413 30,152 26?32 The statement of Financial Actiyitics includes au tsains alld losses in the year. All incoming resources and resources expended derive frorn continuino activities. The notes on pages 8 to 10 forn part of these finamcial statements.
""HE CRYST.4L PALACE fvIUSELM i.4 Company Limited by Guarniiee) BALANCE SHEET AT 31 DECEhlBER 202 2020 2019 FIXED ASSETS Fix¢d se[S Heritage A5S¢IS 2.815 30.152 32.966 3,L42 30,152 33.294 CWUIENT.ASSETS Debtors & PrepaN"tnenls Cash at Bank 454 51,871 52J25 2.179 25.7(M) cREDORs- AKIOUNTS FALLING DLE IITfHtX ONE YE4R 2.726 2,510 T CLWiLNT ASSEIS 49.599 23,190 NET.4SSETS 82,i6i 56.484 FLThI)S OF THE CHARITY i6.484 The company is enliiled exemption from audir under Section 477 of the Cornpanies Act 2006 and seciioD 144(2) of The Charit&es ALt ?01 I for the year ended 31 December ?O?O. The Tremrs have not requitld the compan} to obtatn an audii of its financial statements for the year ended 31 December 2020 in accordance w'ith Section 476 of the Cotnpanies Aci 2006. Approved by th¢ Board of Direciors and Trusiees on 21 Septrmber 20?1 and sigrted on its behalf by: Director and Trustee- A.C Pearce Direclc>r and Trnstee- K. Kiss The notes on pages 8 to 10 form part of these financial sratem¢nts.
IHE CRYSTAL PALACE MUSEUM IA Company Lin)iled by Guarantee) NOTES TO THE ACCOLP4TS FOR THE YEAR EYDED 31 DECEMBER 20?0 ACCOUNTLNG POLICILS The principal accounting w>licies are sumrnatised E¢low. The accounting w)licies have been applied consistently throughoui the and in the precedin- )'ear. (a) Basis ofaccounting The Financial Siatements are prepared under the hisioric cost convention and Include the results of the Charit) s operations which are described in the Executiie Commiuee's Report and all of which are continuin The accounts have been prepattd in aecordaDce with Financial Repjrting Standard 10? 'Ibe FinaDcial Reporting Standard applicable in ihe UK and Republic of Ireland" the Statements of Recommended Practice - Charities SORP (FRS 102) an(L with the Charities Aci 2011. In prepatinrw thes¢ financial sthÈements the Trustres have advantage of the exemption perniÉtted b). FRS 10? in noi presellling a Statement of C&%h Flows. These financial staiements represent the fl lime that the TnteeS have adopted FRS 102 however the policies app]ied under the previou5 accountints Irdmework are noi materially diffeieni io FRS 102 the change of reporting fraEnework has not impacied on the charity's STaelli of Finas]cial Aciiviues for the )'ear ended 31 Decemb¢r 2020 or its Balance Sheet position &8 at thac date. (bl Fund accounting Unrestrkcted funds are for use at the discretion of the trus in furtherance of the general objec(ives of the charity Restricted funds are subjected rcstsicuons on their expellditure imposed by the donor or through the iernjs of ap[1. (c) IneomiDg Resources All incoming resoutces are included in the sthtrmenl of financial activiries when the charity is entitled io the income and the aOunt can bc qu2n(ified with teasonable accuracy. The following specific policies are applied to particul categories of income: _ Volunw income is received by ways of grants. donatiolls and gifts and is included in full in the Statement of Financi21 Activiues when re£eivable. Grants, wbere eniitlemeni is not conditional on the delivery of a specific wformance by the charity. are recogni5ed hen the charit}. becomes Uncondition]Y entitled io the granL Donated seryices and facilities are included in the Y31ue the eharity where this can be quantified. The value of the services PToNided b} volunteers has not been iDcluded in thtse ac£oun(s. Investment Income is included ivhen receivable. Incomin(T resources from granw where related io perfonnwjce and sExcific deliverables, are accounted for as thc chatiiy earns the ri<yhi to consideration by perfomiance. {d) Resource e¥pended Expenditure is recognised on an accrual b&8Ès as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is rewrted as part of the expenditllte io which it relates". - Charitable expendilure cornprises those incutred b}, the chariiy in the deliver! ol its activities and service5 for lis teneficiaties. It includes both costs thai can be allocated direcily to such acuvities and those costs of am indirect nature necessary supwrt thetn. Goi'erDance costs include those cosis asswiated with meeiing the constiti]tional and statutory requirements of the charity and illclude the audit fees and costs linked to the s(rategic managem¢nt of ihc chtirity. All costs 8re allocated betseen expended categories or the Staiement of Financial Actii'ities on a basis designed to reflect the use of the resollrces. Costs rel)ng to a panicular activity are allocated ditectSy, others are apportioned on 2n appropriate basis.
THE CRYSTAL PALACE [UsEUm {A Company Limited by Guarantee) {e) Expenditure on £ement and admitttion of the charity Administration expenditure includes all expendilure noi diwti) related to Ch1(able activity. (fj Tangible Fixed Ats Depreciation 15 calcUlad io wriie off the cosi less estirnated residual value of Ked assets over their estimated useful lives. The ra of depreciation used are: Leasehold IEnproveEnenrs Fixiures and fIiiings Eciuipment Nor Provided 15Yc per annum (reducing linc). 15% per annllm (reducing line}. DIRECTORS AND TRUSTEES No mtlnber of the manttgemeni committee receiired an!, remunerstion during the year. Expen$ amounting to £IOI wete reimbursed to one member of the manatsemeni committee. SURPLUS FOR THE YEAR The deficit of income over expenditure is staled afier Chargin": 2020 2019 Depreciation 497 554 TAXATION The charitsble company is exempt from corporation tax on its charitsble activities. TATr*GIBLE FIXED ASSETS Heritage Assets Leasehold Improvements FiXtuS & Fittlngs Equlpmenl Total COST At l January 2020 30.152 27J98 27 J42 4.741 59,911 Additions duJing year 169 169 At 31st Dettmber 30.li2 ?7.542 4,940 60.080 DEPRECIATION At l January 2020 27598 25.212 3.959 56.769 Charge for year 350 147 497 At 31st DeceEnber 27,598 4.1( 57,266 N¢t Book Value at 31 December 2ff20 30,152 1,980 834 2.8J4 Nd B(x)k VaEuc ai 31 Deeellthr 2019 2.330 812 3,142
THE CRYSTAL PALACE MLSEUM 1.4 Company l.imited by Guarantee) DEBTORS AND PREPAYMELNTS 2020 2019 Sundry Debiors Prepayments 36 418 1.570 454 2.179 CREDrfoRS - AIL IOLTr4TS FALLLNG DL E II"ITHLN OYE YEAR 2020 2019 Accruals 2,726 2.510 2,726 2.510 sTATET OF FbNDS Restritted LTnrestritted ?o•o 2019 2019 Batance at l January 30,152 26.332 26.081 30.106 25,542 836 1461 lllcotnellExpenditi]rel for the year Trdnsfer betw'een funds Ileritage Asset B2]anee ai 31 DecemE¢r 46 30,152 52.413 30,152 26,332 CAPITAL The company És limited by guardnte¢ and does not have a share capital. In the event of winding up, every IDeber h&8 undertaken to contribute to psytnent of the debts and liabilities such aOUnt as may be required noi exceeding £1 ebe. io. RELATED PARTY TNsACrI0NS No accrll2] has been made for trustees of the COpanY. POST BALANCE SHEET ETrENTS The museum had. like a great many other businesses. a very unusual y¢ar due to the Covid-19 Pandemic and the resulting social restrictions. The museum has been closed since its ixing open on 15th March 2090 as a planned re-opening. in the auturnn. wa5 thwarted by the gend naiional lockdown. However. thanks to Covid-19 related grants. and severdl years of improved Inc0C. the museum's accounts reflt a robust tM)sitiOll. It commentts the 21PI financial with sufficient funds to flllly meet the normal rnnning costs. for th¢ entire year ahea¢ and also provide for investsnent io improve and enhance the rnuseum. io