| BUSHEY | MUSEUM TRUST | MUSEUM TRUST | PAGE | 12 | ||||||||
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| STATEMENT | OF FINANCIAL | ACTIVITIES | FOR | THE FINANCIAL YEAR ENDED | 31STMARCH | 2021 | ||||||
| Current | Financial | |||||||||||
| Year, April 2020- | ||||||||||||
| Nlarch 2021 | Previous | year | ||||||||||
| Unrestricted | Designated | Restricted | ||||||||||
| I | INCOMING RESOURCES | Funds | Funds | Funds | Total | |||||||
| Voluntary Income |
||||||||||||
| Donations | F194 | Ei | 94 | F2,600 | ||||||||
| Legacies | f262 | E262 | ||||||||||
| Grants | f37880 | f615 | E5,000 | F43,495 | f34,300 | |||||||
| Income Generated | ||||||||||||
| Bushey Museum | Services (Shop) | EO | f2,618 | |||||||||
| Lettings and Sundries | f586 | f586 | E19,886 | |||||||||
| Investment Income |
||||||||||||
| Bank Interest | f27 | |||||||||||
| Charitable Income |
||||||||||||
| Exhibitions | FO -f57 |
F260 | ||||||||||
| Education | -F57 | E2,707 | ||||||||||
| Local History | F0 | FO | FO | |||||||||
| Other | FO | |||||||||||
| E38867 | F615 | F5000 | E44482 | F62,397 | ||||||||
| RESOURCES EXPENDED | ||||||||||||
| Costs ofGenerated | Funds | |||||||||||
| Fundraising | ||||||||||||
| Charitable Activities - |
Collection | |||||||||||
| Acquisitions | FO | F17 | ||||||||||
| Conservation | and | Cataloguing | E64 | F691 | ||||||||
| Exhibitions | F.691 | E5,038 | E5,729 | E3,122 | ||||||||
| Other Charitable Activities |
||||||||||||
| Education | EO | f1,263 | ||||||||||
| Local History | EO | FO | ||||||||||
| Miscellaneous | ||||||||||||
| EO | ||||||||||||
| Establishment | ||||||||||||
| Maintenance | E10,463 | f10,463 | F.188 | |||||||||
| Services | E3,373 | E3,373 | E14,121 | |||||||||
| Administration | ||||||||||||
| Human Resources |
F23,772 | F23,772 | E23,727 | |||||||||
| Office Services | F4,260 | F4,825 | E5,438 | |||||||||
| Professional Services |
E1 | 520 | F1 520 | F730 | ||||||||
| Total Resources Expended | F44, | 143 | f564 | E5,038 | F49,745 | F49,296 | ||||||
| Net Incoming | Resources | -F5,276 | E51 | -E38 | -E5,263 | E13,101 | ||||||
| RECONCILIATION | ||||||||||||
| Balance Brought | Forward | E31,108 | E75,510 | E4,788 | F111,406 | f98,305 | ||||||
| Net Incoming | Resources | 4:5,276 | E51 | -E38 | -E5,263 | E13,101 | ||||||
| Transfers Between Funds |
fo | -EO | ||||||||||
| Balance Carried Forward | E25,832 | F75,561 | E4,750 | f106,143 | F111,406 |
| BtFwd | Recpts | Paymts | Tr'fera | Cd Fwd at | ||||
|---|---|---|---|---|---|---|---|---|
| in | ||||||||
| CASH ASSETS | 1stApr 2020 | in Period | in Period | Penod | 31-Mar-21 | |||
| Cash at Bank and | In Hand | |||||||
| Petty Cash | 22 | 0 | -43 | 100 | 79 | |||
| Bank Current | Account | 105,416 | 58,064 | -62,885 | -100 | 100,494 | ||
| Outstanding | Debtors | |||||||
| Outstanding | Creditors | -952 | -1,350 | |||||
| Investment | in Subsidiary | 6,920 | 6,920 | |||||
| Total Cash Assets | 111,406 | 106,143 | ||||||
| Comprising: | ||||||||
| General (Unrestricted) | Fund | |||||||
| Reserves | 31,108 | 52,449 | -57,724 | 25,832 | ||||
| Designated (Unrestricted) |
Funds | |||||||
| Collection | 5,010 | 615 | -564 | 5,061 | ||||
| Refurbishment | 70,000 | 70,000 | ||||||
| Lighting and Security |
500 | 500 | ||||||
| Restricted Funds |
||||||||
| Collection | 638 | 5,000 | -5,038 | 600 | ||||
| Exhibitions | 4,030 | 4,030 | ||||||
| Grants | 120 | 120 | ||||||
| Total Funds | 111,406 | 106,143 |
| 31 Mar 2021 | 31Ma/2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Fixed assets | ||||||
| Tangible Fixed Assets |
11.8 | |||||
| Investment in Subsidiary |
11.9 | E6,920 | E6,920 | |||
| Total Fixed Assets | E6,920 | E6,920 | ||||
| Current Assets | ||||||
| Petty Cash | E79 | E22 | ||||
| Bank, Current account |
E100,494 | E105,416 | ||||
| Sundry Debtors | 11.7 | E0 | ||||
| Creditors (falling due within |
one | E100,573 | E105,438 | |||
| year) | 11.6 | -E1,350 | ||||
| Net Current | Assets | E99,223 | 8104,486 | |||
| Net Assets | E106,143 | Et | 11,406 | |||
| Comprising: | ||||||
| General (Unrestricted | ||||||
| Fund) | ||||||
| Reserves Designated |
25,832 | 31,108 | ||||
| (Unrestricted) | ||||||
| Funds | ||||||
| Collection Refurbishment |
& | 11 | 4.1 | E5,061 | E5,010 | |
| Development | 11.4.2 | E70,000 | E70,000 | |||
| Lighting | 11.43 | E500 | E500 | |||
| Total Unrestricted | Funds | 8101,393 | 8106,618 | |||
| Restricted Funds | ||||||
| Collection | 11.3.1 | E600 | E638 | |||
| Exhibitions | 11.3.2 | 54,030 | E4,030 | |||
| Grants | E120 | E'120 | ||||
| Total Restricted | Funds | E4,750 | E4,788 | |||
| Total Funds | F106,143 | 6111,406 |
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 | |
|---|---|
| ACCOUNTING POLICIES |
|
| 11.1.1 | BASISOF PREPARATION |
| The accounts have been prepared in accordance with the Statement ofRecommended Practice, Accounting and Reporting by Chaffties SORP (FRS102),applicable accounting standards, the Companies Act 2006 and the historical cost convention. The presentation ofthe Balance Sheet and Statement of Financial Activities includes a General Fund and a Restricted Fund. This is necessitated |
|
| by the conditions ofvarious grants and donations. Details ofthe grants received, donation and legacies are included in the Annual Report |
|
| 11.1.2 | FIXEDASSETS |
| The Trustees' accounting policy is to write off all fixed assets in the year in which they were acquired. Details ofthis may be found in Note 11.8. |
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| 11.1.3 | CASH FLOW STATEMENT |
| The Trust has taken advantage ofthe exemption provided by the Financial Reporting Standard 1 for small charities and has not prepared a Cash Flow Statement for the year. The requirement for cashflow statements was dropped for accounting period commencing on or after 1"January 2016 if the income ofthe charity is less than 6500,000.00. |
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| 11.1.4 | COLLECTION |
| Items shown under the Collection heading are only those purchased by the Trust out of income or through specific grants. Further details ofthe Collection are given in the Report ofthe Trustees which introduces these accounts. |
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| In accordance with previously recommended practice the items in the Collection have not been shown as an asset ofthe Trust but were treated as part of routine expenditure. The SORP (FRS 102) requires the information on Heritage and Inalienable Assets, which would cover the collection, should be given in Notes to the Accounts whether or not they have been capitalised. The Trustees have considered this carefully and have decided that it is not practical on the grounds of difficulty and cost and so are taking advantage ofthe exception to this reporting requirement provided in the SORP (FRS 102). Furthermore, the Trustees consider that publication would prejudice the efficient working ofthe Charity by increasing the risk oftheft and/or vandalism. |
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| 11.1.5 | ROUNDING ERRORS |
| All amounts are recorded and calculated digitally to the penny but are shown rounded to the nearest pound. In some cases, this can result in minor discrepancies between the apparent sum of individual amounts and the total shown. The individual amounts and their sums are nevertheless correct, |
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| 11.2. | GRANTS AND DONATIONS |
| The Museum received grants from Hertsmere Borough Council which this year totalled 636,800— which included this year a hardship grant. A display case was purchased with the assistance ofa grant from The Decorative Arts Society. The Network Store was upgraded with the assistance ofa. grant from Hertsmere Borough Council. As referred to above, a donation was received from the Museum's Subsidiary Trading Company. Private donations and donations from Museum visitors amounted toE194 |
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| All grants and donations received in the current Financial Year were unrestricted for the General Fund ofthe Museum. |
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| The Friends ofthe Museum were again generous in their purchases of new acquisitions and other capital items although the Museum's temporary brake on acquisitions (due to lack ofstorage space) meant that fewer requests were made. The Trustees would like to take this opportunity to thank alf of those who supported the Museum during the year with their time, talents, donations and grants. |
| Professional Other sundry |
Fees (Independent creditors |
Examiner) | -1,350 -0 |
-730 -222 |
|---|---|---|---|---|