REGISTERED CHARITY NUMBER: 0294371 Trustees. Report and Unaudited Financial Statements for the Year Ended 5 April 2024 for The Fakenharn Town Gas Works Museum Trust Charitable Incorporated Organisation Stephenson Smart (East Anglial 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 2024 Page Trusteès, Report Statement ot Financial Activities Balance Sheet Notes to the Financial Statements 8 to 14 Detailed Statement of Financial Artivities 15
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2024 The trustees present their port and the unaudited financial statements of the charity for the year ended 5th April 2024. Objectives and activities Objectives - To have an inclusive policy for everyone in the community. TO advance the education of the public by providing access to and maintaining the only surviving town gas works in England and Wale5. To demonstrate how gas was made from coal. the working conditions for the men who rnade it and to display the domestic eqvipment powered by gas. -To strengihen the museums position as a principal 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-Partv Parliamentary Group Industrial Heritage IAPORIAI. To maintain a collection of literature concerning the former co31 gas industry. To function as a focus for local social and natur31 history in Fakenham and the neighbouring village5 in association with the partners in the Fakenham Heritage Group by outreach exhibitions. To prtsduce readily accessible books and pamphlets about the gas industry and local history. Activitiès There is outstanding work from phase two of the restoration prograrnme including the white paint work, the front boundary wall and wÉndow frames. Some of the work 15 awaiting consent from Historhc England.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2024 Achievement and performance Finance Chan8es to the cheque signature mandate has after a long time and two forrnal complaints been re501ved. The request for a debit card is ongoing. A5 fewer people carry cash, donations are falling. The possibility of a debit card reader is being investigated. Total income for the year 2023-24 was £4.05312023.. £3.5061. At 5 April 2024 the COIF Account stood at £S.S(KJ12023-. £5.5LK)l and the Charities Deposit account stands at £117 12023.. £1121. The financial state of the ch3ritable rncorporated organi5ation ha5 remained stable. Visitors Visitor numbers in 2023-24 were 65612022-23.. 4271. There are parts of the community who do not seem to 51t, this something that the trust continues to try to resolve. Financial review Full details of the Trust's accounts accompany this report. Plans for futurè periods Harry Yates has continued to lead on constitutional. accreditation. survey report. Trust meeting and day-to-day management tsf the museum and Management Subcornmittee with delegated authority to rnanage the museum and leading on negotiations with National Grid 5UPPOrted by Alan Longmuir. A review of the museum opening hours and exposure through its digltal platform and group visits has been undertaken leading to a development project which resulted in the rep051tioning of the museum withTn the industrial herit3ge sector and will actively pursue group visits to accommodate the downturn in srewards and volunteers. Discussions are contirTruing with National Grid Gas regarding securing a lease or a management arrangement to operate the museum NG io provide Technical 511PPOrt and funding of annual repairs and securing a management arrangement EO enable the Trust to operate the museum. Meanwhile the Trust is resolved to maintain the services provided by the museum for the comtnunity at large.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees. Report for the Year Ended 5 April 2024 Structure, governante and management Fakenham Museum of Gas and Local History was created out of the former Fakenham Town Gasworks in 1987 when it was opened as a rHuseum by the Duke of Gloucester. The Museum was incorporated on 5th March 1986 as a company limited by guarantee and not having share capital. The document governing the operation ol the Museum is a Memorandum ol Agreement beiween British Gas and The Norfolk Historic Buildings Trust and between the Museum Trust dated 24th July 1986 the site owners are National Grid Propertv- New Articles and Memorandum were prepared by Ms. Cole acting as consultant to the Trust were prepared during thi5 period to enable the Trust to convert it's Governance status from Limited Company to that of Charitable Incorporated Organisation ICIOI the documentation was presented to the Board of Directors for approval on 26th June 2020 the Trust becoming a CIO on 21st October 2020. The Museum is the sole owner of the collections of artefacts li holds which extend to dornestic appliances associated with the gas industry, the structure5 that make up the Gasworks remain the property of National Grid. Administration The Fakenham Town Gasworks Museum Trust IFtGWMn is the body responsible for the administration of the Fakenham Museum of Gas and Local History. The Trust is 3 registered Educational Charity No.. 2294371 and 15 a Registered Charitable Incorporated Organisation. The CIO has as it5 registered office. the Fakenham Town Council, Fakenham Connect. Oak Streei. Fakenharn, NR219DX. The museum volunteer base demographic is one of mainly retired personnel some with many years. service to the museum. Governance 2023 - 2024 continued to be a difficult year in securing the long-terrn future of the museum by means of a new management arrangement, £omplications of Energy Supplies both locally and globally impacted on National Grid priorities and complex negotiations regarding energy IGasl specific business ambitions. The Chairman has continued to robustly conduct negotiations with National Grid Properties INGPI. The museurn now comes under the auspices of National Gas. The contaci is Mr Nick Side who is director of Operations. Mr Side ha5 Vlslted the museum and been advised of the situation of the 125 year full repairing lease. signed in the early 19805 it involved Norfolk Historic Buildings Trust INHBTI who have not assisted with any repairs which over the years have been financed by Brit15h Gas and National Grid. NHBT have not been released from the lease and despite legal advice there ha5 been no resolution. Operational Artivities The Trust continue5 to make contributions to the town by attracting visitors who may not otherwise have visited Fakenharn. The new portacabin 15 currently being used as a srore. This area will be cleared and used as a meeting room and an office foT a Potential new curator. It is a150 proposed thai a new IT and telephone system be installed into this portacabin. The second phase of the maintenance and restoration of the site is significantly completed. The next phase of this work needs to be discussed and agreed with National Ga5 as there 15 a siEnificant amount of work to repair the ascension pipes in the retort house which are suffering Seve cracking and to bring the gas holder back into operation.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees, Report for the Year Ended 5 April 2024 Action is being taken to strengthen the board of trustees there are rwo areas where there is a deficit of knowledEe that require professional input. technical and historic. we will atternpt to fjnd suitable candidates to join our board. The National Gas archive at WaiCk offered space to store paper-based items the offered wa5 accepted as Fakenh3m 15 unable to provide suitable storage especially humidity control the project to audit and clear the library 15 ongoing. Relations with Cèdent are good. Cadent held a wreath laying at the museurn. and provided a team of apprentices to do two days of voluntary work at the rnuseum. The entrance ramp had become very unsafe after twenty years of British Weather. National Gas constructed and financed a new rarnp. The rnuseum's Facebook page is up and running and appears to be well received. Constitution The change to CIO and the new Articles and Memorandum provide5 a much greater degree of flexibility to the appointment of Trustees and the operation of the rnEbseum wtth third party involvement potential. Accreditation The museum is a fully accredited museum meeting the demanding standards of the Arts Council, it 15 anticipated that the museum may be invited to Submit documentation for re-accreditation in 2025 at the earliest. Meanwhile a review of the policies is bein8 conducted. The Arts Council panel identified areas for iwnprovement. These areas for improvemerit reflect the on-gc)ing work to create a fflore stable and sustainable museum. Gleeds survèy Gleeds survey continues to provide to the Trust and National Gas an extensrve report and drawinES based on their survey of the museum, base line condition. recording and advising of struttural defects and cyclical fnaintenance needs with costs over a 10-year period. thi5 will form an integral part of the future arrangernents and discvssions between the trust and National Gas. Personnel The museurn is managed on a day-to-day basis by the Management Subcommittee IMSCI with delegated authoritv from the trust board of direttors. This form of management was introduced during 2015 and is embedded into the museums management Structure. With the retirement of fvlr Pa5cal the resignation due to illne55 of Mr Stone and the long terrn illness of Mr Yates the work103d on other trustees has increased. There is a continual requirement for Stewards during the open season it was possible to have enough cover but it is a concern and extra opening hours are not P055ible. The lack of volunteers to deal with bastc maintenance and other behind the stsnes work is having a noticeable effect. Sotial contributions The museum is unique as tt is the only preserved complete coal gas works in England and Wales, With the demise of Carrickfergus the position of the Fakenham Gasworks Museum becomes of greater importance in retaining this important elernent of our Industrial and Social Heritage. As a centre for education, the museurn reache5 our to all levels of education in society from Junior school pupils to univer51ty students and PTofe55ional government officers. The museum co-operates closely with the Fakenham Comrnynity Archive Group.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Trustees. Report for the Year Ended 5 April 2024 Reference and administrative details Registered Charity number 0294371 Principal addre55 Fakenham Connect Oak Street Fakenham Norfolk NR219DX Trustees Mr5 A M Harris Mr N J Stone Iresi8ned 31_3.20241 Dr G S Acheson Mr J Baldwin Mr H Yates Mr A Longmuir Mr N l Ezra lappointed 17.4.20231 Approved by order of the board of trustees on 3 October 2024 and signed on its behalf bv.. Mrs A M Harris- Trustee
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Statement of Financial Activities for the Year Ended 5 April 2024 5.4.24 Total funds 5.4.23 Total funds Unrestricted fvnd Restricted fitnds Notes Income and endowments from Donations and legaiies 3.583 3.583 3.392 Investment income Other income 319 150 319 150 114 Total 4.052 4.052 3,506 Expenditure on Raising funds 38 38 28 Charitable artivvties Charitable activities 2.137 560 2.697 2,595 Total 2,175 560 2,735 2,623 INCOMEIIEXPENDITUREI 1.877 15601 1,317 883 Reconciliation of funds Total fund5 brought forward 24.359 44.616 68.975 68.092 Total funds cèrried forward 26.236 44.056 70.292 68.975 The notes form part of these financial statements
The Fakenharn Town Gas Works Museum Trust Charitable Incorporated Organisation Balance Sheet 5 April 2024 5.4.24 Total funds 5.4.23 Total funds Unrestricted fund Restricted funds Notes Flxed assets Tangible 3S5ets 639 639 752 Current assets Stock5 Debtor5 Cash at bank and in hand 50 554 26.384 50 965 70,029 50 38C> 69.085 411 43.645 26.988 44.056 71,044 69,515 Creditors Arnounts falling due within one year 11.3911 11,3911 11,2921 Net current assets 25.597 44,056 69.653 68,223 Total assets less current liabilities 26.236 44.056 70,292 68,975 NEf ASSETS 26.236 44.056 70.292 68,975 Funds Unrestricted funds Restricted fund5 io 26.236 44.056 24,359 44,616 Total funds 70,292 68,975 The financial statements were approved by the 8oard of Trustees and auihorised for issue on 3 October 2024 and were signed on its behalf by.. Mrs A M Harris- Trustee LJ Dr G S Acheson- Trustee The notes form part of these financial statements
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements for the Year Ended 5 April 2024 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 registered office is Fakenham Connect. Oak Street. Fakenham. Norfolk, NR219DX. Accounting polities Basis of preparing the financial Statements The financial staternents of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance wth the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporring Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting standard 102 'The Financial Reportrng Standard applicable in the UK and Republic of Ireland, and the Charities Att 2011. The finarbcial statements have been prepared under the historrcal cost convention. Judgements and key source5 of estimation untert3inty The preparation of the financial statements requires rnanagement to make judgements. estimates and assumption5 that affett the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expertations of future events that are believed to be reasonable under the circumstance5. Incoming resources All illcoming resources are included in the statement of financial activtties when entitlement has passed to the charity,. it is probable that rhe economic benefits associated with the transattion will flow to the charity and the amount can be reliably 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 is recognised when receipt is probable and entitlement is established. Income from donated goods is measured at the fair value of the good5 unless this 15 impractical to measure reliably, in which case the value is derived from the cosr to the donor or the estirnated resale value. Donated facilities and Services are recognised in the accounts when received if the value can be reliably measijied. No amounts are included for the contribution of general volunteers. Intorne frorn contracts for the supply of service5 is recognised with the delivery of the contracted service. This is classified as unrestritted funds unless there is a contractual requlrement for tt to be spent on a particular purpose and retvrned 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 cannot be fully recovered, and 15 classified under headings in the statement ol financial activities to which it relates.. Expenditure on raising funds include5 the costs of all fundraisinE actiwties. events. non-charitable trading activities, and the sale of donated goods.
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Staternents- continued for the Year Ended 5 April 2024 Accounting policies- continued Resourees expended Expenditure on charitable artivities includes all costs incurred by the charity in undertaking attivitTes that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of it5 expenditure on charitable activities. All costs are allocated to expenditure categories reflerting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the actwities thev contribute to on a reasonable. justifiable and consistent basis. Going concern There are no material uncertainties about the charity's ability io continue operating as a going concern. Tangible fixed assets Depreciation is provided at the following annual rate5 In order to write off each asset over its estimated useful Fixtures and fittin85 Equipment 15% p.a. reducinE balance IO% on cost All fixed assets are initially recorded at cost. Only expenditure greater than £l(YJ is io be considered for capitalisation_ Stocks Stocks are valued at the lower of cost and net alisable value. after making due allowance for obsolete and slow moving items. Taxation The charity is exernpt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objective5 at the discretion of the tTUStees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the dorsor or when funds are raised for particular restricted purposes. Unrestrirted fund5 Unrestricted funds are grants and other incomin8 resources receivable or 8ranted for the objects of the charity without further Specified purposes and are available a5 general funds. Restricted funtls Restricted funds are to be used for Specific purposes a5 laid down by the donor. Expenditure which meets these criteria is charged to the relevant fund. Chargè to taxation The company being a registered charity is exempt from taxation on its main activities.
The Fakenham Town Ga5 Works Museurn Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2024 Investment income 5.4.24 5.4.23 Bank interest receivable 319 114 Tru5tees' remuneration and benefits There were no tru5tees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023. Trustees. expenses There were no trustees. expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023. Comparatives for the statement of financial artivities Unrestricted fund Restricted funds Total funds Income and endowments from t>onations and legacies 3.392 3.392 Investment income 114 114 Total 3,506 3,506 Expenditure on Raising funds 28 28 Charitable artivrties Charitable activities 2.595 2,595 Total 2.623 2.623 NETINCOME 883 Reconciliatlon of funds Total fund5 brought forward 23.476 44.616 68,092 Total funds carried forward 24.359 44.616 68,975 io
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2024 Tangible fixed assets Fixtures and fittings Equipment Totals Cost At 6 April 2023 and 5 April 2024 6.981 8,690 15,671 Depreciation At 6 April 2023 Charge for year 6.229 113 8,690 14,919 113 At 5 April 2024 6,342 8.690 15,032 Net book value At 5 April 2024 639 639 At 5 April 2023 752 752 Stocks 5.4.24 5.4.23 Stocks 50 50 Debtors: amounts falling due within one year 5.4.24 5.4.23 Other debtors 965 380 li
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Note5 to the Financial Statements- continued for the Year Ended S April 2024 Creditors: amounts falling due within one year 5.4.24 5.4.23 Other creditors 1.391 1.292 io. Movement in funds Net movement rn funds At 6.4.23 At 5.4.24 Unrestricted funds General fund 24.359 1.877 26,236 Restrirted fund5 Restricted Fund I 44.616 15601 44.056 TOTAL FLJNDS 68.975 1,317 70,292 Net movement in funds. included rn the above are as follows= Incoming resources Resour$ expended Movement in funds Unrestrirted funds General fund 4,052 12.1751 1.877 Restrirted funds Restricted Fund I 15601 15601 TOTAL FUNDS 4.052 12.7351 1,317 12
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2024 io. Movement in funds- continued Comparatives for movement in funds Net movement in funds At 6.4.22 At 5.4.23 Unrestrirted funds General fund 23.476 24,359 RerIcted funds Restricted Fund I 44,616 44.616 TOTAL FUNDS 68.092 68.975 Comparative net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in fund5 Unrestricted fvnds General fund 3.506 12,6231 883 TOTAL FUNDS 3.506 12.6231 883 The restricted fund is a grant from the National Grid with a balance at 31 March 2024 of £44.056 12023.. £44,616), restricted in its vsa£e to ma¥ntenance of facilities. ii. Relatetd party disclosures There were no related party transartions for the year ended S April 2024. 13
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organisation Notes to the Financial Statements- continued for the Year Ended 5 April 2024 12. Expenditure on th3ritable activities Unrestricted funds Restricted funds Total funds 2024 Legal and professional fees Depreciation of tangible fixed assets Other establishment costs 760 113 847 760 113 847 1.720 1,720 Unrestritted funds Restritted funds Totsl funds 2023 Legal and prtsfe5sional fees Depreciation of tangible fixed assets Other establi5hrnent costs 1,400 76 436 1,400 76 436 1.912 1.912 13. Expenditure on support costs Unrestricted funds Restricted funds Total fund5 2024 Insurance Postage and stationery Repairs and exhibit renewals 333 333 84 560 560 417 560 977 Unrestricted fund5 Restricted funds Totsl funds 2023 Insurance Postage and stationery Repairs and exhibit renewals 426 175 82 426 175 82 683 14
The Fakenham Town Gas Works Museum Trust Charitable Incorporated Organi5ation Detailed Statement of Financial Activities for the Year Ended 5 April 2024 5.4.24 5.4.23 Income and endowments Donation5 and legacies Donations 3.583 3.392 Investment income Bank interest receivable 319 114 other income Other income 150 3.506 Total incoming resources 4,052 Expenditure Other trading artiwties Purchases 38 28 Charitable activities Other establishment costs Legal and professional fees Depreciation of tangible fixed assets 847 760 113 436 1,400 76 1.720 1,912 Support tosts Other Insurance Postage and stationery Repairs and exhibit renewals 333 84 560 426 175 82 977 683 Total resources expended 2,735 2.623 883 Net income 1,317 This page does not form part of the statutory financial Statements 15