REGISTERED CHARITY NUMBER- 0294371 Trustees. Report and Unaudited Financial Statements for the Year Ended 5 April 2023 for The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Stephenson Smart (East An8lial Limited 10 Oak Street Fakenham Norfolk NR219DY
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Contents of the Financial Statements for the Year Ended 5 April 2023 Page Trustees. Report Statement of Financial Artivities Balance Sheet Notes to the Financial Statements 7 to 13 Detailed Statement of Financial Artivities 14
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2023 The trustees present their report and the unaudited finanual statements of the charity for the year ended 5th April 2023. Objectives and activities Objectives To produce readily acce55ible books and pamphlets about the gas industry and local history. - To have an irsclu5ive policy for everyone in the community. To advance the education of the public by providing access to and maintaining the only surviving town g3s works in England and Wales. To demonstrate how gas was made from coal, the working conditions for the men who made it and to display the domestic equipment powered by gas. To strengthen the museums position as an important element of the industrial revolution and its place in Industrial Heritage through actively engaging in and with Industrial Heritage Groups and as a member of the All Pèrty Parliamentary Group Industrial Heritage IAPPGIHI. To matntain a collection of literature concerning the former coal gas industry. To act a5 a focus for local social and natur31 history in Fakenham and the neighbouring villages in association with the partner5 in the Fakenham Heritage Group thiough outreach exhibitions. Activities The musetjm has joined a Heritage Trail which wa5 a Fakenham Town Council initiative with numbered plaque5 containing embedded QR codes, in keeping with our Arts Council Registtstion ihe Ga5 Work5 received No. 13.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees. Report for the Year Ended 5 April 2023 Achievement and performance Finance The year 2022-23 has been challenging foi the Trvst. The Trust continues to make contributions to the town in regard of Wisitors to the museum who may not otherwise have visited Fakenharn. Changes to the cheque signature mandate continve5 to be thwaned by non-action ol the Natwest despite many request5 for this to be acttoned. no further progres5 ha5 been made and the difficulty irb raisin8 cheques remains. The complaint which was raised last year with rhe Natwest complaints department still awatts an outcome. Total inEome for the year 2022-23 was £3.50612022- £9.0191. At 5 April 2023 the COIF Account stood at £S,S(Q 12022= £5.5001 and the Charities Deposit account stands at £112 12022.. £1101. Despite the restricted openings during this year_ The financial state of the chaiitable incorporated or£anisation has remained stable. Visitors Visitor numbers in 2022-23 were 42712021-22.. Nill. Financial review Full details of the accounts accompany this report. Plans for future periods Harry Yates has continued to lead on constitutional. accreditation. survey report, Trust meeting and day-to-day management of the museum and Management Subcomrnittee with delegated athorItY to manage the museum and leading on negotiation5 Wlth National Grid supported by Alan Longmuir and Martin Pascal. A review of the museum opening hours and exposure through it5 digital platform and group visits has been undertaken leading to a developmenr projert which resulted in the repositioning of the museum within the industrial heritage settor and will actively pursue group visits to accommodate the downturn in stewards and volunteer5. Discussions are continuing with National Grid regarding securing a lease and securing a rnanagement arrangement to enable the Trust to operate rhe museum. Meanwhile rhe Trust is resolved to maintain the services provided by the museum lor the community at large.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2023 Structure, governance and management Fakenham Museum of gas and local history was created out of the former Fakenham town ga5 works in 1987 when it was opened as a museurn by the Duke of Gloucesrer. The museum was incorporated on the 5th of March 1986 as a company limited by guarantee and not having share capital. The documents governin8 the operation of the museum are its Memorandurn of Agreement between British Gas the Norfolk Historic Building5 Trust and between the Museum Trust and the Norfolk Historic Buildings Trust. Currently the site owners being National Grid Property. New articles and memorandum have been prepared for the Trust whith has @nabled rhe Trust to convert its governance status from limited company 10 that of 3 Charitable Incorporated Organi5atioD ICIOI. Operational activities The new portacabin is currently being used as a store and workshop. This area will be cleared, and it 15 ploposed that it be used a5 a rneetin8 room and an office for a potential new curator. It is also proposed that a new IT and telephone system be irsstalled into thi5 Portacèbin. The second phase of rhe maintenance and restoration of the site 15 Significantly completed. The next phase of this work will need to be discussed and agreed with National Grid as there is a significant amount of work to bring the gas holder back into operation and to repair the gas risers in the retort house which are suffering severe cracking. Action is being taken to strengthen the board there a two areas where there is a deficit of knowledge that require professional input. technical and historic, we will attempt to find suitable candidate5 to join our board. Constitution The Trust continue5 to benefit from moving to a CIO in Qktober 2020. This together with the new Articles of Association and Memorandum has provided a much greater degree of flexibility to appoint trustees. as well as increasing the potential for third party involvement with the museum. Accreditation Due to delays built up because of the COVID-19 epidemic a backlog of applications at the Arts Council has resulted in the trust not being invited to submit an application for re accreditation during the year. We expect that we may be asked to submit our renewal application durbng 2023- 2024 yeaf. Gleeds survey The Gleeds survey continues to provide the TTUSt and National Grid an exiensive report and drawing5, based on their survey of the museum baseline condition. recording, and advising of structural defects and cyclical maintenance needs and costs over a 10-yeèr period. This forms an integral part of the future arrangement5 and discussions between the Trusi and National Grid. Personnel The museum is m3naged on a day-to-day basis by the Management Subiofflmittee IMSCI with delegated authority from the trusi board of direttors. The MSC is chaired by Harry Yates. This form of management was introduced during Ihe 2014-15 years and 15 now fully embedded into the museurn5 management structure. Reference and administrative details Registered Charity number 0294371
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2023 Principal address Fakenham Connect Oak Street Fakeriham Norfolk NR219DY Trustees Ms A M Harris Mr N I Stone Dr G S Ache50n Mr J Baldwin Mr H Yates Mr M C Pascal Iresigned 3.3.20231 Mr A Longmuir Mr N J Ezra (appointed 17.4.20231 Approved by order of the board of trustees on_ and signed on its behalf bv.. Ms A M HarTlS- Trustee
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Statement of Financial Activities for the Year Ended 5 April 2023 5.4.23 Totsl funds 5.4.22 Total funds Unrestricted fvnd Restricted funds Notes Income and endowments from Donations and legacies 3.392 3,392 Charitable activities Charitable activities 9.016 Investment income 114 114 Total 3,506 3.506 9.019 Expenditure on Raising fund5 28 28 Charitable activities Charitable activities 2.595 2,595 4.120 Total 2.623 2,623 4,120 NET INCOME 883 4.899 Reconciliation of funds Total funds brought forward 23.476 44.616 68,092 63,193 Total funds carried forward 24.359 44,616 68.975 68,092 The notes form part of these financial statements
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Balance Sheet 5 April 2023 5.4.23 Total funds 5.4.22 Total funds Unrestricted fvnd Restrirted funds Notes Fixed assets Tangible assets 752 752 478 Current assets Stocks Debtor5 Cash at bank and in hand 50 380 24.469 50 380 69.085 50 530 67.514 44.616 24.899 44.616 69.515 68.094 Creditors Amounts falling due within one year 11.2921 11.2921 14801 Net current assets 23.607 44.616 68,223 67.614 Total asset5 less current liabilities 24.359 44.616 68.975 68.092 NEfASSErs 24.359 44.616 68,975 68,092 Funds Unrestricted funds Restricted funds io 24,359 44.616 23,476 44,616 Total funds 68.975 68,092 The lina Statements were approved by the Board of Trustees and avthorised for issue and were signed on irs behalf by= on Ms A M Harri5- Trustee Dr G S Acheson- Trustee The notes form part of these financial statement5
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements for the Year Ended 5 April 2023 General information The charity is a public benefit entity. registered in England and Wales and a registered charity in England and Wales. The address of the registefed office is Fakenham Connect. Oak Street. Fakenham, Norfolk. NR219DX. Accounting policies 8asis of preparing the financial statements The financial statements of the charity, which is a public benefit enttty under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charitie5 Aci 2011. The financial statewnents have been prepared under the historical c05t convention. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements. estimate5 and assumptions thèt affeci the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectation5 of future event5 that are believed to be Tea50nable under rhe circumstances. Incoming resourtes All incoming resources are included in the Statement of financial activities when entitlement has passed to the charity,. it Is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be ieliably measured. The following specific policies are applied to particular categories of income: Income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably. Legacy income 15 recogni5ed when elp1 is probable and entitlernent is established. Income from donated goods is rnea5ured at the fair value of the goods unless this 15 impractical to measure reliably, in which case the value ss derived from the cost to the donor or rhe estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for rhe contribution of general volunteers. Income from contTacts for the supply of Services is recognised with the delivery of the contracted service. This is classifted as unre5tTlCted funds unless the¥e is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recogni5ed on an accruals basis as a liability is incurred. Expenditure includes any VAT which annot be fully recovered. and 15 classified under headings in the statement of financial activities to which it relate5'. Expenditure on raising funds includes the £osts of all fundraising activities. events, non-charitable trading activities, and the sale of donated goods.
The Fakenham Town Gas Work5 Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements - continued for the Year Ended 5 April 2023 Accounting policies- continued Resources expendèd Expenditure on charitable attivttie5 includes all costs incurred by the charity in undertaking activities that further its charitable aims lor rhe benefit of its beneficiaries, including those support costs and costs relBtirig to the governance of the chariry apportioned to charitable actiwties. Other expenditure include5 all expenditure that is neiiher lated to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure caregofie5 reflerting the use ol the resource. Direct costs attributable to a single activity are allocated directly to ihat artivity. Shared cost5 are apportioned between the activities they contribute to on a reasonable, justifiable and con515tent basis. Going contern There are no tnaterial uncertainties about ihe charity's ability io continue operating as a going concern. Tangible fixÈd assets Depreciation 15 provided at the following anntjal rates in order to write off each asset over its estimated useful Fixtures ènd fittings Equipment 15% p.a. reducing balance IO% on cost All fixed assets are initially recorded at cost. Only expenditure greèter than £l,¢XX) is to be considered for (apitalisation. Stock5 Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Llnrestritted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purp05e5 Wlthin the objects of the charitv. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. Unrestricted funds Unrestricted fvnds are grants and other incoming resources receivable or granted for the objects of the charitv without further specified purposes and are available as general lunds. Restricted funds Restricted fuFids are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charEed to the relevant fund. Charge to taxation The company being a registered chariiy is exempt from taxatron on its main activities.
The Fakenham Town Gas Work5 Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements - continued for the Year Ended 5 April 2023 Investment income 5.4.23 5.4.22 Bank interest receivable 114 Trustees, remuneration and beneffts There were no trustees. remuneration or other berbefit5 for the year ended S April 2023 nor lor the year ended 5 Apri5 2022. Trustees, expenses There were no trustees. expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022. Comparatives for the statement of financial activities Unrestricted fund Restricted funds Total funds Income and endowments from Charitable actbvities Charitable activities 9.016 9.016 Invesiment incorne Total 9.019 9,019 Expenditure on Charitable artiwties Charitable activities 4.120 4,120 NET INCOME 4,899 4,899 Reconciliation of funds Total funds brought forward 18,577 44,616 63,193 Total funils carried forward 23.476 44,616 68,092
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2023 Tangible tixed asset5 Fixtures and fittings Equrpment Totals C05t At 6 April 2022 Additions 6.631 350 8.690 15.321 350 At S April 2023 6,981 8,690 15.671 Depreclation At 6 April 2022 Charge for year 6.153 76 8.690 14,843 76 At S April 2023 6.229 8,690 14.919 Net book value At 5 April 2023 752 752 At S April 2022 478 478 Sto¢ks 5.4.23 5.4.22 Stocks 50 50 Debtors: amounts falling due within one year 5.4.23 S.4.22 Other debtors 380 530 io
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2023 Creditors: amounts falling due within one year 5.4.23 5.4.22 Other creditors 1.292 480 io. Movement in funds Net movement in funds At 6.4.22 At 5.4.23 Unrestrided funds General lund 23.476 24.359 Restricied funds Restflcted Fund I 44.616 44,616 TOTAL FUNDS 68,092 883 68,975 Net movement in funds. included in the aL70ve are as follows.. Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 3.506 12,6231 883 TOTAL FUNDS 3.506 12,6231 883 Comparatives for movement in funds Net movement in funds At 6.4.21 At 5.4.22 Vnrestrirted funds General fund 18.577 4,899 23.476 Restricted funds Restricted Fund I 44.616 44,616 TOTAL FUNDS 63,193 4,899 68,092 li
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2023 io. Movement in funds- continued Comparative net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 9,019 14.1201 4,899 TOTAL FUND5 9,019 14,1201 4.899 The restricted fund l is a maintenance grant from the National Grid. ii. Related party disclosu5 There were no related party transactions for the year ended 5 April 2023. 12. Donations and grants Unrestricted fund5 Total funds 2022 Unrestricted funds Total funds 2021 Donations Grants 9.016 9.016 10.708 10,708 9.016 9.016 10.708 10,708 12
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended S April 20Z3 13. Expenditure on charitable artivities Unrestricted furids Restricted funds Total funds Z022 Legal and professional fees Oepreciation of tangible fixed asset5 Other establishmer5t costs 749 749 2.578 2.578 3.411 3,411 UnstrICted funds Restricted fund5 Total funds 2021 Legal and professional fees Depreciation of tangible fixed assets Other establishrnent costs 1.737 43 1,780 99 375 375 2,211 43 2,254 14. Expenditure on support costs Unre5tricied funds Restricted funds Total funds 2022 Insurance Postage and stationery Sundries Repairs and exhibit renewa15 442 442 84 183 183 709 709 Unrestricted funds Restricted fund5 Total funds 2021 Insurance Postage ènd stationery Sundries Repairs 3nd exhibit renewals 630 50 95 439 630 so 95 439 1,214 1,214 13
The Fakenham Town Ga5 Works Museum Trust Charitable Incorporated Organisation Detailed Statement of Financial Activities for the Year Ended 5 April 2023 5.4.23 5.4.22 Income and endowments Donations and legacies Donations 3.392 Investment income Bank interest receivable 114 Charitable activities Grants 9,016 Total incoming resources 3,506 9.019 Expenditure other trading activities Purchases 28 Charitable activities Other establishment cost5 Legal and professional fees Depreciation of tangible fixed assers 436 1,4Cx) 76 2,578 749 84 1.912 3,411 Support costs Other Insurance Postage and stationery Repairs and exhibit renewa15 426 175 82 442 84 183 709 Total resources expended 2.623 4,12CI Net income 883 4,899 This page does not form part of the statutory financial statements 14