The Nation21 Museum of Labour History (Trading as The People's History Museum) Consolidated Financial Statements For The Year Ended S April 2022 Compally Registration Number 02041438 Cbgrity Number 295260 A37 'AB)B1928¢ 2111212022 COMPANIES trI￿sE The National Museum of Labour History Company Limited by Guarantee Fin2ncial Statements Year Ended 5 Apr512022 Contents Pages Trust￿, Annual Report Itolo Independent Audito¢s Report to the Members Ilto14 Consolidawl Ststemeni of Fin8n¢ial Activities (Incorporating the Income and Expendittwe account) 15 Consolidated and Charity Balance Sheets 16 Consolidated C￿h Flow Statement 17 Notes to the Financial StstemeDts 18to32 The National Museum of Labour History Company Limited by Guarantee Tru5tees' Annual Report Year Ended 5 April 2022 The Ttu$tees, who ore a]so directOTS for the puryow of company law. bave pleasure in Presenting their ￿port the financial ststements of the group for the year ended 5 April 2022. Reference and AdtnlDlstrntlve Det*51s Registered Charity Nsme The National Museum of Latw History Charity Registration Number 295260 Company Registration Nurnber 02041438 Reglstered Ofllee t£ft Bank Spinningfields Manchester M3 3ER The Trustees The Trustees who served the Charity during the period to the date of signing the Trustees, ATinyal Re￿rt were as follows= K Carberry M Carr R Oill S Litidsay J S Bassam (Lord) P Nowak B Donoghue {Chair) M Clancy K Savage R Sharpe R fulsiani V Phillips S Thornpson A Douglas M Quiney D Luckin Reskgned 5 November 2021 ReSig￿d 5 November 2021 ReSig￿d 14 May 2021 Resign¢d 13 May 2021 Appointed 14 May 2021 Apwinted 5 November 2021 The National Museum of Labour History Company Limited by Guarantee Trustees, Annual Report Year Ended 5 April 2022 Company Seereiary C Birchall C Cotkin Resigned 6 Awil 2021 Appointed 8 octo￿ 2021 Externxl Auditor Beever and Stwthers Stswtory Auditor One Expre55 l Georg¢ L¢igh Str¢¢t Manchester M4 5DL Bartkers The Co-operative Baok plc Olympic House 6 Olympic Court Montford Street Salford M5 2QP Unity Trust Bank plc Nine BriDd]ey Plxe Birmingbam BI 2HB Structure. Govern4nce and M4n4gemen¢ The full t￿ne of the Charity As The N*ional Museum of LalM)ur History. The ￿arity is govemed by the ternis of its Memorandwn and Articles of Association. The Cbarity is a company which is limited by guardnt¢¢. Th¢ Charity uses the working tttle'People's History Museum.. The Trustees wbo have acted during the year are listed aEthe. The Charity'$ ass¢ts ar¢ availabl¢ al￿ adequat¢ to fulfil the obligations of th¢ Charity for ¢a¢h TesLricted fund. Trustees, interests A5 the Charity is a company Ismited by guarantee there are no shares OT Option5 in which any of the Trustees of the ChaTity could hold interests. Trustee5 notify the Company Secretw if they aTe aware of ally instances of direct or indirect beneflt which have IKcurred &% a collsequeute of thetr Trusieeship of the Museum and a fornial iequest for this inforrnation is issued each year as an agenda item in the November board meeting. During this accounting period two of the Trt￿leeS declared th a family member was employed by the Charity. In both ¢aw application and interview procedures were followe￿ no conflict or significant benefit was perceived and both Tjustees dec12red the interest and did vote on py scale cbangu that affected all staff. Further detsils are provided in note 25. Appointment of truste¢5 Ttustee% are appointed after Tn￿te¢ vacancy adv¢rtis¢m¢nt and interview by existing Tn￿te¢S and by rnajority vot¢ of the Ttijstees of the Charity. The Trades Union Congress. Greaw Manchester Cornbined Authority and Manchester City Council have the right to app02nt a member of the Boar(L The National Museum of Labour History Company Limited by Guarantee Trustees, Annu•l Report Year Ended 5 April 2022 Trustee induction Iraining Newly appointed Trustees are issued with the following documents.. Musewn Memoraudutn aDd Articles of Ass(Kiation. Museum ADDual Accoutlts Reports. Charity Cornmis5ion docutDentation. The llew Trnstee would then spend time with th¢ Mus¢wn Director working through the current Museutn BusitLeSS plan aDd disaL$5ing important items affecting the Museum at the time of appointrnent. Organisatioll Trustees meet tog¢thu quarteily at whicb time the Museum Director. who is apyx)in*d by them and is respoDSLble for the day to day n￿￿illE of the Museum. reports on all matters of rnuseu]u policy aud strategy. These meetings a150 include annual accounts and quarterly budget reports. Any changes in strategy are discussed, aEnended and when agreed, adopted as written museum wlicy by Trustees and implemented by the Ditector. Where itsks are identified partscularly regarding funding steps are taken as described below {see Risk management). Related partie5 The Clwiry bas a tradmg subsidiary compaoy aDd during the year two of the Tr￿ste¢S declared that a family member was elllployed by the Charity. Further details are provided in note 25. Risk management The Musewn thrector is charged with notifying Twstees of ally risks facing the Museum and of important ineome 2nd expenditure matters Including: Possible fubjte deficits to D]xin revenue grants particularly from tnain fi￿derS (Greater Manchester Combilled Authority- GMCA and Atts Collt]cil for England- ACE). Capital Expelld]"ture projects. The TrUstr￿ art fftnvolved in prepardtion of bids and Pro￿¥$ is reported when work collunence5. Auy bJT]dtaising success&$ alld the project involved. y ￿a)0[ changes to Museum and Archive fimding structure, assessing both the negative aDd positive effects of these chaDges on the or8awsatio The ongoitig financial impact of the Covid-19 paDdem"ic on the museutn's fillancial positiOII. Once notified of any problems Trustees discu&8 and decide appropnate action, which may direct museum staff or necessitsie the setting up of a sub-committee of Trustees as required. The actions tak¢n ar¢ thcrl reported on aod ttviewed ￿ subsequent meetings. An AuditlRisk sUb-￿tt￿ni￿Ce was set up in 2013 at￿ bolds meetings prior th the fijll board meeting to consider Budgets, Quarterly Reports, Cash flow and Risks idenrified in the Busine&s plan in more detail and refer items to the full E#)ard me£ting as required. The Trustecs are aware of staff stsvcture 2nd responsibilities and are t)otified of stsff changes. Salaries for Senior stsff have been set with the wist2nce of Manchester City Cowi¢il'5 Personnel DePth￿ent and all staff are paid at I￿] Governrnent rdt¢s and Dats'oDally agreed conditions of service apply. The National Museum of Labour History Company Limited by Guarantee Trnstees. Annual Report Year Ended 5 April 2022 Objectives and ACti￿tieS The prillcipal actsvity of the Charity is thal of a museum. The Tn￿te¢S have due regard to tbe Charity Commission's guidance on wblic be￿fil and the following p8ragTaphs des¢rib¢ th¢ activities undertaken to deliver public benefit. The Charity's aims are the advancernent of ed￿CatIOn and knowledge by the promsion and Tnaintenance of a museum for the collection, conservation and public exhibition a￿d display of objects, books, pbotographs and many other itenjs of visual kn"story relating to all aspecL8 of the social and cultura] history of &eat Britsin. These ain)s continue to fom) the basis for all museum policy. Achievements and Perforniance People's History Mllseum is designed to be about people, for people. and with p¢opl¢' celebiating the w)wer of ideas. voic£s, actions and creativity. It is the national museum of dernocraey, showcasing the Struggle for equity and equality. celebrating radical history and providing space to explore contemporary issu&8 through nwginalised voiees. PHM is proud to be a museum of national significance in Greater Manchester wsth a strong relevan and resotwjce to people's lives. PHM'S vision is of a fairer wiety where people5, voic¢$ and actions make a differe￿£. PHM'S mission is to engage v&siior5 with social justice and encourage people to up and to take a stsnd on the issues that maitei to them. At the start of 2021122 PHM was still closed to the public due kn the Covid-19 pandemic and was delivering many servic¢s and 2¢tivities for its audiences online. Th¢ range of online progrdmmes and activities iDcluded= Doodle Den resourcts and activitics to 5UPPOrt childreTh's creativity at home. Fabric of Protest resource%, IDStagram stories and online sessioDS for creative crafting. Radical Lotes online with a range of bookable events linked to the Migrdtion programme. AD onl￿¢ tout of the museum. produced in partnershEP with Manth&ster Univu5ity. Museum imag& and stories publish¢d on Google Arts and Cultu￿. Th¢ museum was able to reopen its doors in May 2021 atld to we1cort￿ visiiors back io the building for a wide rang¢ of exhibitions, events and activities as PHM responded and recovered from th¢ impact of the previous year. Th&se were mostly focused arowid the mu5ewn's Migration prograrnme wkn.ch had betD delayed siDce 2020. aDd whicb was developed in collaboration witb a Commullity Programme Team {made up of iudÈviduals with lived experienc£ of tnigrydtioll). In 2021122 PHM deliver&l a range of Migrntioo cotltent including: MoTe ill Common: in memory of Jo Cox This exhibition represented the culminats.ort of a compTehensive community led project InsPit￿ by the legacy of Jo Cox MP. together with an exploration of Jo's life. work and values_ The project involved a group of over 30 people from different background5 who made N(anchester their home, comithg together to share knowledge, ¢xperi¢nc¢s. and conv¢r5atiODS. Co-er¢aLed by the project group, this exhibitiort explored Jo's life and legacy and followed th¢ gmup on their journty in celebtzting out COmTnonality alld challenging discrimination. Central io the exhibition was the Jo Cox Memorial WAII. on public display for the first time sinee Jo's tnurder in JuDe 2016 it w&% erected Outside the The National Museum of Labour History Company Limited by Guarantee Trustees. Annual Report Year Ended 5 April 2022 Achievements Perf0m*￿et Houses of Parliament. Now pkrt of PHM'S collection. the wall features the I￿￿wrItten tributes of hundTeds of people, incluth.ng cm"1dr￿ and stood alongside a specially comrnissitsned virtual Wall of Hope on which visitots to the ￿USeuM and online could add their PeTsonal tribute messages. Also ort display for the firsi (ime were the placards. bannets aTMI artworks that were created in the afternuth of Jo's murder. #Welcome This exhibition explored the wider irnpa¢t of negative m¢dia coverage and changing immigration CODtrols, as well as b&gh]ightsng campaigDS to eod the 'ba5ti1¢ ¢nvironm¢nt' and its policies. It included photo￿ph$, newspaper covers, &4mpaign n]aterial alld moving t*tsonal experiences of migration told by the pe¢)ple affected in their own words. Migration: A Human Story Developed entirely by the Community Pr0￿MMe Team. PHM hosted a number of inteTrentions throughout the museum to bring stories of migration to life for all visilors to the museum, including.. A series of animations exploring the different reasons why people migrate - Sharing people's Storics in their OWD words and giving them agency a[￿ representation in the museutn wbere they bad previously llot been feature(L They were delitxrately juxtaposed witb the history the museum *lls. to disrupt ihe wsitOTJOUTney and bTing awaren￿ to the issues they highlight. A family friendly passport trail inviting visitors to spin of a wheel to decide their fate. The trail encouraged people to step inco the sh¢xs of a re￿gee. asylum seeker or economic migrdnt aud ¢xplor¢ tbe b￿Tle[s, opportunities and rights they fa¢¢. updated time11￿C for the museum U￿CoVerIng the litjks between empire, colollialism, migration and the history of democracy and campaigning. This included additions to PHM'S flagship Battle for the Ballot wall in the museum foyer_ A brnnd-new banner 'The Journey We Made Acros5 laod and Sea, to Build a County Not Made for Me,. cornmis5ion¢d by th¢ Community l¥ogranllne Team a5 a 'fake trdde union ballner, to subvert th¢ Classic￿ idea15 traditionally seen in PHM's banner collection. Created by artist Saleena Daye, it was thsigncd to give a voice to mi￿nts. visually representing those working in care. hospitslity. agriculture and textiles. Migration Corntnllrrity Exhibitions The rnweum also hosted a range of community exhibitions throughout the year providiD8 space for the voices and eX￿rienCeS of a nufftber of groups and ctsmmunities incluth"ng'. My Home Js Not Afy Home giving a unique and intimate in5Lght into the hidden world of Domestic Workers "Sinying"p¥i ofter disasier." Lrfe afier Hurricane in Barbuda Coynter-Jlow- ao insttllaiion of l(KJ pairs of ceramic feet refiecting the movement of Cults￿e$ from one pla¢¢ to another Yantshed Streets showing photographs of lost Jewish Manchester from the 1970s rvherever ihe Road Tak£f Me sharing the identities aDd experiences of young people from Gypsy. Roma and Traveller of Irish Heritsge Building Commwiities with Rochdale Young lnIe￿reter5 The National Museum of Labour History Company Limited by Guarantee Trustees, Annual Report Year Ended S April 2022 Achievements and Perfonnance Almost 45,000 people visited MÉgrntion (S￿ of visitors at a time of covid recovery), and an additiot￿l 700 attended events iticluding Family Friendly workshops exploring identity, and partnership events raising awareness of ¢limale refvgees aod campaigns to end immigration detention. Evaluation Shows the Significant impact th¢ experience had on audiences wbo reported a bxseliDe of 3￿/0 with little understanding of the experience of rnigrdtion which changed to 360/0 With a Strong understanding and 43Vo a good understanding after visiting. The impact on audience8 was heartfelt and important: "Carefijl curation & insighthil commentary invites deep refiection. The kind of thoughtful provocatiotj & dialogue we need much rn0￿ of In our ￿lety. You've helFKd me see how very important 3 rolt j5 played by our museums in our lives." In 2021122 PHM also continued to develop its plans for its UF￿0￿1ng Nothing About Us Without Us INAUWU) programrne looking at the history of disabled people's activis￿ and current issues &￿fj challenges facillg disabled people. The NAUWU group continued to meet TEgu]arly online and planning and development WOTk continued. PHM'S PoliÉicol Poslers project W&5 Ikunched in 2021 with two years of funding to help understand its collection of political posters. The project aims to audit and review tbe exciting but ullder-utilized collection of posieTS,' catalogui￿g, condition checking and digitizing them. before stollng them in mote accessjble conditions. So far, the project has included the purchase and implementstion of a Digital Asset Management System, with around 500 posots digitized ready for 80-live. and the addition of over I,O(X) objects to the collection5 catalogue. The new records iDclude An4iepth descriptsons alld thematic key wor(Ls, to improve acws thTough our online eatalogue and datab￿ to enable future use. The Labour Hisrory Arclu"ve and Sbjdy Celltre {LHASC) also reopened in May 2021 and welcomed researchers from across the UK as well as fn)m Jap￿ Americ4 China and Austrdlia and a number of European countries once COVID restrictions eased. The LHASC held a nurnber of 'open archkve. events in support of the museutn's Nothing About Us Without Us prograrntne and the oirring the past fes(ival. Audiling, appraisal and ca(aiowng of tbe collections has continued. with p￿l¢vIar focus on a collection of rtllterial from the Eatth Firscl wup of environmenral aciivists and a I￿ge collection of the personal papers of Hilary WainwrighL British Sociolog￿S¢ and activist. ReopeniDg after the panderntc the rnu5eutn's Conservation sti￿10 worked with external clients to reschedule a number of siwficallt CODservation projects iucludiDg a paint￿S alld decoiatots banner for an individual client. Prince Al￿rts Fuuerary Hatchrnent from Westsninster Abbey. and four large batmers for the National CoalminTrng Museum. The museum's reopening with a stroug piogramme of collrenl related to Migration, provided lots of opportunities for press and medi< and the museum secured good coverage locally. nationally and internationaily. The More in Common exhibition in panicular gained lots of coverage and support with the links tt> Jo Cox MP and ber family. The mu%wll also continued to promote its activities and services OD a rdnge of digital and continued to engage with audiences through social mulia platforms and to share content through news stori￿ and blogs that achieved a S]￿lf1&￿nI reach. Entrrprise. fuDdraising and iD¢om¢ g¢n¢rdtiOD w¢r¢ a priority througbout the year as recovery from the pandetnic w&s slow with visitors relutDing in St[￿11e1 numbers and colljfflercial income (akmg its time to retwn. The museum reopened in May 2021 with a new paTthership with an ethical and The National Musellm of Labour History Company Limited by Guarantee Trustees, Annual Report Year Ended 5 April 2022 Achievements and Perfomante sustainable cataiDg partner (OF*n Kitcben) will add Str¢ngth to both the museum's visitor experience thTougb the café. alld cort]mercia] offer for clients corning to PHM for evellts. Retail continued secure income from both orLSite aTJd online C￿$toMerS. and clients booked a TaT]ge of events using the museum's venue hire service. PHM had a one-year interim Business Plan in 2021122 which provided an OP￿T￿anIty for the mus¢um to embed the new vision and mission that was developed in 2019r20 with 4 aims and 4 prioriti¢s for the team to focu5 on while the museum continued w recover from the pandemic.. ASm$ l. Impact-led engagement 2. Celebrating our stories 3. Bold profile and brand 4. Buildit]g financial sustainability and enterprise Priorities l. Access and inclusion 2. Envirotllntntsl impact 3. Digital transformation 4. Investsnent in the ￿trAre The museum's Board of Tntstees contsnued to provide excellent governance. support and direction for PHM in recovering from the impaci of ihe pandemic wth the leadership of ils tsvo Co-chairs until the AGM in November 2021. who were succeeded by Bernard Donogblle OBE. The museum rAJntinued to have repr&sentation on the Board from its major parthers,. Greater Manchester Combined Authority. Manchester City Council and The Trade5 Union Congress. The museum coulthi'i have actrtieved all thar it Ihd in 2021r22 with4)u¢ the ongoing support and flexibility of its main fimders in response to the panderoi¢' GreAter Manchester Combined Authority (GMCA) and Arts Council England {ACB) and th¢ emergency fimding and businw supp(>rt received in response to the pandemie. Locally aJLd llaiioDally the panderllic brougbt tbe JDuseullts. art aDd Cul￿re sector together for mutual support and collaborntion and this continued In￿ 2021122. PHM played an active role in many networks in Man¢hester, Greater Manchester and nationally as OTganisations r¢coveied from the paDdemic and worked together on joint projects and Campai￿￿5 to welcome pujple back to vellu<% when they were able to operL Plans for Future Per1{￿S At tbe end of 2021122 PHM had be¢D reopen to the public for almost one year aDd visitor llumbets had recovered to aiound 60-70°A when compared with 2019llO. PHM o￿ned to the public 5 days a week with full lime opening during school holidays and received much positive feedback from re)Jming visitors. The National Museum of Labour History Company Limited by Guarantee Trustees, Annual Report Year Ended S April 2022 As well as delivering the museum's Migration prograrnnK. the leam were Icrf)king ahead to the pcomitig progran]me theme which would now ￿ delivered from Summe* 2022.. Nothillg About Us Without Us This long-trmi project explores the repTesentstion of disabled people. the history of disabl¢d people and disabled people's movements, and their ongoing fight for equality. independence and inclusion. The museum has WOE*ed with groups. campaigoers aDd individua15 to capture their stories and re-examine how the history of disabled people and disabled p¢ople'$ movements is repr¢sent¢d. The M￿euM developed another one-year interim Business Plan for 2022123 which aligtted witb a suceessthl application for exiension of Arts Council NPO funding for the cotlling year. The Tnuseum also SUfXC5sfully s¢wcd another year of its fimding from GMCA as part of Greatrr Manchester's COTnmitment to supporting cultural or8anisatiotL8 recoverirtg from the Tmpact of ihe paodemic. The Busindss Plall for the ￿rnIng year wdl include the sart]e aims and priorities as listed above for 2021r22. Financial Review The Statemertt of Finallcial Activities for the year is set ol￿ on page 15. During the y¢ar th¢ conditions relating to the ￿ndIng of the Museum by the Greater Manchestu Combined Authority x charge points. Appli¢atioDs for external fundthg are developed itl house by the staff team. Re$pon$ibilities of the Trustees The Trustees (who are also the directors of The National m￿SeUm of IAbour History for the purposes of compally law) ate responsible for preparing th¢ Trusiees, Annual Retrf)rt and the fmallcial sratements in accordance with appIl￿ble law aDd Ullited Kiugdom Attounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requirt5 the Tn]st¢¢s to pr¢p8re fwancial statements for each financial yur, which giv¢ a true and fair view of the state of affairs of the chaTitabl¢ company and ofthe incoming resources and application of resources, including the income and expenth'ture. of the charitable company for that period. In preparing these fmancial Staten￿lts. the Trnstees are required to: select Suitable accounting policies and th¢n apply th¢rn ¢on5iStently; observe the meth(xls and principl¢s in the Charities SORF 2019 (FRS 102). make judgernellts and accounting estimates that are reasonable and pNd¢n4 prep￿¢ the financial statements on the golng concern basis unLess A( is inappropriatr to preswne that the ctrlaritsble company will continue io operation. The trustees are responsible for keeping adequate accowlting records that disclose with rtasonable accuracy at any titne the f￿anCIal p05itioD of the charitsble company and enable them to ensure that The National Museum of Labour History Company Limited by Guarantee Trustees. Annu21 Report Year Ended 5 April 2022 the financial Sta￿ments comply with the Companies Aci 2006. They are also responsible for Safeguarding the assets of the charitsble company and 1￿ce for taking reasonable steps for the prevention and detection of fraud and othei itregularities. Each of the persons who is a Tn￿ at the d* of approval of this report confwms that.. so far as they are aware, there is T]0 Televant audit infom)ation of which the cha]itable compally's auditor is unaware" and they have tsken all steps that they ought to have taken as a Trustee to make the]￿elVeS aware of any relevant audit infomjation and ts) esthblish that tbe charirable company'5 auditor is aware of that infornution. Th¢ Tnjstees are responsible for the maintenance and integrity of the cory)orate and finaneikl inforTllatioD included on the charitable company's website. txgislation in the Ullited kn"ngdom governing the preparatii)n and di55emination of financial statem¢nts may differ frorn legislation in otheT jurisdictions. Small Company Provisions This report has been prep￿ed An accordance WAth the special provislons for small companies wjder Part 15 of the Companies Act 2006. Signed by order of the Tn￿￿e5 C Corkin Company Secretary Date.. 11 NDvEmtw2022 io The National Museum of Labour History Company Limited by Guarantee Independen¢ Auditor's Report to the Mernbers of The National Museum of L2bour History Year Ended 5 April 2022 Opinion We have audited the fjnancial stsrements of The National Museum of Labow History (the 'parent charitsble ¢ompany') and Its subsidiary {the 'group') for the year ended 5 April 2022 which comprise the Consolidated Ststernent of FiDan¢ial Activities (incon)orating the Income and Exp¢nditur¢ A￿Ollnt), the CoDsolidated and Charity Balance Sheets. the Consolidated Cash Flow Statetllent and the related notes. The financial reporting framework that has E*en appli￿ in th¢ir weparatioli 1$ applicable law and United Kingdom Accounting Standards. including FRS 102 "The FinaT]cial Reporting S(andaJd applicable iu the UK and Republic of ttelamd" (Utiited Kmgdom Gellerally Accepted Accouniing Practice). In our opinion. the financial sts*ments". give a I￿e amd fair view of the sr* of the group's amd of the parent charitable company's affairs as at 5 April 2022 and of the group's incoming resources and application of re50ur for the year th¢n end¢d. have been properly prepared in a￿)rdance with United Kingdom G¢nerally Aceepted Accounting Practi¥ and have been prep￿￿ in accordance with the tequRrements of the Companies Act 2006. Basis for opinion We conducted our audit in accordartce with International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those srandards are fijrther des¢rib¢d the Auditor's r¢sponsibiliti¢s for the audit of the financial stateraents section of our report. W¢ ar¢ ind¢p¢ndent of the group and parent charitable colnpany irj accordance with the ethical requirernents that are relevant to our audit of the financial ststements in the UK including the FRC'S Ethical Standar4 and we have Sjifilled our other etbical respottsibilities ill accoidance with these requirements. We believe that the audit evAdence we have obtathed is sufficient and appropriate to wivide a basis for ow opinion. ContlusioDS r￿ating to going concern In auditing the financial ststemenL8, we have concluded that the tsus(ees' use of the going concern basi5 of accollnting in the preparation of the financial statements is 2ppropriate. Based on tbe work w¢ have p¢rfornKd we bave Dot id¢ntifi¢d any matwial un¢¢rtainti¢s r¢lating to events or collditiODS tha4 iuth"vidually or collectively, may cast sigllifJcaDt doubt on the group's or paretrt charitable company's ability to continue as a going con¢ern for a peri¢)d of at le&st twelve months from when the financial ststements are iuthorised for issue. Our responsibilities artd tbe JEs]x)nsibiliti&8 of the ts)tstees with EO going concem ase d&8cribed in the relevant sections of this repo li The National Museum of Labour History Company Limited by Guarantee Independent Auditor's Report to the Members of The National Museum of Labour History Year Ended 5 April 2022 Otber information The other infoTmation comprises the infoTlltstion included in the annual repotL other than the financial staiemenis alld our auditoi's report theTeort. The tr￿siteS (who are also the directors of the group and pareni charitable company for the purposes of company law) are tespoosible foi the other inforniation. Our opinion on the flnancial s￿￿ments d￿$ noi cover the other itifornJ2tion and. except to the extent othetwise explicltly stated in our repo¢ we do T￿t eXp￿S any fom) of assurance conclusion thereon. In coooe¢tion with OUT audil of the financial statements our r¢spoDsibility is ￿ read the otl information and, in doing so, consider whether the other inforniation is materially incons55tent with the financial 5tstements or our knowledge obt2iMed in the audit or otherwise appear5 to be materially mis%tsted. If we identify such material inconsistencies or apparent material rnisstaternents, we are required to detenni￿C whether there is a rnaterial misstatement in the £￿anCIal statements or a material misstatemeni of the other infornhaiion. If, based on the work we have perfomie& we conclude that there is a material mi&sthtemeTJt of this other iTLforntstion. we are Tequired (o report that faci. We have nothing to report in tbis regard. Opinions on other matter5 prescribed by the Companies Act 2006 In our opinion, based on tbe work undertaken in the course of the audiL the inforniation given iti the ttustres. repotL which includes the direcwrs. report prepared for th¢ purposes of ¢ompaoy law. for the finaocial year for wtrLi¢h thc fjnaocial stat¢ments are prepared is consistent with the financial ststements. ond the direct(bts' rew)rt included within the tru5tees' report has been prepared in accorda1￿e with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the p8reDt ebaritable company aDd their environmellt obtailled iu the course of the auth"t. we bave Dot identified material misstatements in the directots. Tel￿ included within the tTUSttts' T4￿rL We have nothing to report in respect of the following matters in relation to wbicb CompaDi¢S Act 2006 r¢quir¢s us to report to you if, ID our opinion: ad￿uate accounting records have not beert kept by the parent charitable company, or r¢turns adequate for our audit have not been re¢eTved from btanches not visited by us. or the parent charitsble company financial ststements are not in agreement with the accounting records and rettwns. or Certain disclosures of trustees. reiiiutieration specified by law are not m&le" or we have not received #ll the information and explanations we require for our audst- or the t[￿Stee5 were not entiti¢d to prepare the f￿anCIal stalements accordaDce with the small ¢ornpanie$' r¢gim¢ and tak¢ advantage of the srnall cornpanies. exemptions in preparing the trustees, report and frotn the requireTt]ent to prepare a strate￿¢ repo 12 The National Museum of Labour History Company Limited by Guarantee Independent Auditor's Report to the Members of The National Museum of Labour History Year Ended 5 ApRIl 2022 Respojjsibilities of trusttts As cxplait)ed more fvlly in the Responsibilities of the TnJste¢s' Stst¢ment set out on pagt 9, the trustees (who are also the directors of the group and parent charitable company for the purposes of company law) are responsible for the prep￿ation of tbe finaDcia] statemeDts and for being s&tisfhed that they give a tnle and fair view. and for Such internal control as the trnste&s deterniDe is llecessary to enable the preparation of financial Statements that ar¢ free from mat¢riAi misstatement. whether due to fraud or error. In preparing tbe fi[La￿Cial statements. the trustees are r&spoDsible fot aswsiDg the group alld parent charitable Company's ability to continue as a going concern, disclosing, &8 applicable. matters related io going concern and using the going concern b&8is of accounttng unless the trustees either in*nd to liquidate the parent clw"Ltsble company or to cease operatsons or bave no realistic allernative but co do so. Auditor's responsibilitiu for the audit of the financial statements Our objectives ate Lo obtain reasonable wutance about whether the financial statrments as a whole are free from material misstate￿c￿L whether due to fraud or error. and to issue an auditor's report thai includes our opinion. Re&80nable assurance is a high leve] of assurance. i￿t is not a guarantee that all audit conducied in accordance with ISAS (UK) will always detect a material misstatement wb¢n it exists. Misstat¢ments cao arise from fraud or error atjd are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud instsnces of non-compliaLKe with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material mis5tstements in respect of i￿egularitIes, including fraud. The specific pr￿edureS for this engagement and the extent to which these are capable of detecting irregularities. including fraud is detailed below.. The extent to which the audit was considered cap*ble of detttting irregvlarities including fraud Our approach to identifying and assessing the risks of material misststement r¢5pec( of iryegularities, iDcluding fraud and non-compliance with laws and regulations, was as follows: the engag¢fflent partn¢r ¢nsur¢d that th¢ engag¢ment team collectively had tbe appropriate competence. capabilities a￿1 skil]s ￿ identify or rctognise non-coinpliance with applicable laws aDd regulxtions. we identified the laws and regulations applicable io the group through discussions with directois and othcr rnanagun¢n¢ and fJotll our cottllllercial knowledge and experhence of the ¢harity s¢ctor. we focused on specific laws al￿ re8ulatiOD5 wbich we considered may have a direct materi81 effect on the financi￿ st2temellts or the operntiODS of the ¢ompany, including the Companies Act 21M)6, the Charities Act 2011, taxation legislation. data protection. anti-bribery. employrnen4 environmentsl and health and safety legislation. we assessed the exteni of compliance with the laws and regulations identifi¢d through making enquiries of managemeot and inspecting lega] correspondence. identified laws and regu]ations wete communica*d within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 13 The National Museum of Labour History Company Limited by Guarantee Independent Auditor's Report to the Members of The National Museum of Labour History Year Ended 5 April 2022 We assessed the s￿¢￿11b11lty of the group's statern¢nts to material misstatemen¢ iticluding obtxilling an understanding of bow fraud rnight by.. making enquiri&5 of maDagernent ￿ to wh¢r¢ th¢y CODsidered thue was stL%ceplibility to fraud, their knowledge of actual. su%peeted and alleged fraud. considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To addr￿$ tbe risk of fraud througb mallagement bi￿ and oveEride of controls, we.. performed aDalytical procedures on incorne and salaries to identify any unusjtsl or unexpected relationships. tested jOUTnal elltries to ideutify Un￿$ual transactions. assessed whether judgements and assumptions made in detcrniining the account￿8 estitDates sei out in noie 3 were indicative of potential bias. investigaied the rationale bebind signifjcant orunusual tsansactiotts. There are inherent limitations in our audit procedures deSCrit￿ above. The more removed thost laws alld regulations are from financial transactions. the les5 likely it is that we would become aware of non-compliance. Auditsng standatds also limit the auth"t Ptithlur&% required to identify non-compliance wth laws and regulations to enquiry of the dirtciots and other management and the inspection of regulatory and legal ¢OTrespondence. if any. Material misstatements that arise due to fraud can bt barder to dettct than those that arise frorn error as they may involve delibetate concealment or collusion. A further de￿ription of our reswnsibiliiies for the audit of the finaftctal statements is Iwated on the Financia] Rewrting Couocil's website at.. www.frc.or .uklauditor5res nsibilitles. This description forms part of our auditt)r's report. Use of our report This report is made solely to the parent charitable company's members, as a body, in accordance wÈth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertkken so that we tnight stste to the parent charitable company's members th05e matters we are iequired to state to them iu an auditor's report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility w anyone otheT than the parent charitable company and the pa￿nt charitable company's members as a b￿JY for our audit wo￿. for this report or for ihe opinions we have forni¢d. MARtA HALLOWS FCA (Senior Statutory Audi￿r) For and oll bebalf of BEEVER AND STRUTHERS Statutory Auditor One Express l George Leigh Streei Manchester M4 5DL Date: I￿12/2022 14- The National Museum of Labour History Company Limited by Guarantee Consolidated Statement of Financial Activities Oncorporating the Income and Expenditure Account) Year Ended S April 2022 UDre5tricted Funds Rf5trict¢d Funds Total FuDds 2022 Total Funits 2021 Nrf¢ IDcome and endowtnents Donations and legacies Income fro￿ charitable a¢tivithes= Operation of rnuseum Other trading activities.. Commercial trading operations Investment income Other income lJ86,196 191J18 1577514 1.598.794 8521 8,521 185,117 J85,117 19,463 422 22.974 Tolal incotDe lJ79,834 191 J18 1,771,151 1.641.653 Expenditure Exptndiwr¢ oll raisitsg fMds'. Commercial trath'ng operations Expendffttt￿e oll clwi"table a¢tivi(ies-. Operation of museum Toial expendlture (89.283) (89,283) (14J97) (J,455,72J) (IJ45.004) {282,735) {282,735) (1.738.456) (1,827,739) 11,712,765) (1,727.162) Tr4ti in¢omel(expeDdlturt) ror the year 34J30 {9J,4J7) {56,588) (85,509) Transfers between funds Net movement in fllllds for the year Recon¢iliatioD of fund5 Total fiuxis brought forward Tothl funds earned forward 34030 (91,417) {56,588) (85,509) 478.205 9.617.287 10,095.492 10,181.001 10.095.492 513,035 9,525,870 10,038,905 The sratement of f￿a￿claI activities includes all gains and lo￿ recognIs￿ in the year. All income and expendiDJre derive from continuing aciivities. The wote5 p*ge$ 18 to 32 tom prt of these fin*htrAI stxt•tteJii> Is The National Museum of LAbour History Company Limited by Guarantee Consolidated 2nd Ch2rity B21an¢e Sheets As at 5 April 2022 Group Charity 2022 2022 2021 2021 Fiyed H55ets Tangible assets Investments 14 Is 9231297 9,455.896 9,238397 9,455,896 9,23&297 9,455,896 9,238,299 9.455.898 Current assets Stocks Debtors Cash at bank and in hand 16 17 17,547 379.072 606J83 25,718 172.479 651.510 499.724 469.789 203.225 647,054 1,1)03.1)02 849,707 969,513 850,279 Creditors: Amollnts Falling due Wi¢hAn One Year 18 (174398) (210.111) {164,013) {207,846) Net current assets 828,704 639.596 805.511LI 642.433 Tota] assets less current Jiabilities 10.067.(JOI 10,095.492 10,043,799 10.098,331 Creditor$: Amount$ Fauing due After 19 More than One Year Net assets 10,038,905 10.095,492 111.015.703 10,098,331 Funds Restricted income fijnds Unrestricted In￿me funds 21 22 9525,870 9.617.287 9,525,870 5A3,035 478,205 489,833 JO,03&91JS 10.095,492 JIJ,015,703 10,098,331 9.617.287 481.044 Total fuDds The net eX￿￿lture for the year of the parent Chan"ty was £82,570 (2021.. net income of £21,390). The Tn￿l¢eS have prepared ￿0Up accounts in acconknce with seuion 398 of the Con)panies Act 2006 and section 138 of the Clwities Act 2011. These auounts are prepared in a¢¢ordance with th¢ special provisions of Part IS of the CompaDie5 Act relating to small companies and constitute the annual accounts Tequired by th¢ Compani¢s A¢t 21KJ6 ond are for eireulation to members of the company. These financial ststrments were appmved and authorised for issue by the Board of Tnjstees on I I Noveml*r 2022 and are S]￿ed on its beI￿lf b .. B Donoghu¢ TTUStee S Lindsay Trustee Company Registration Number: 02041438 Th¢ ttoths on p•y$ 18 th 32 forn PArt•fth¢5t lkn*ncJal stat•ntnt¥ 16 The National Museum of Labour History Company Limited by Guarantee Consolidated Cash Flow Statement Ended S Apiii 2022 2022 2021 Cash flows from operaiing activities Ivel Cash provided by opertlling adivilies (77,026) 66.118 Cash flows from investine Activities Investmert¢ irtcome PuTchase of property. plani and equipment Net c4fh usedin inv¢sung4¢tiviiies 422 (9,992) (6,733) {4733) (9.570) Cash flows from finaneing actlvities 38,632 r4et Idecrea5e)fincrease in cash and ¢35h equivalents Cash and cash equivalents at beginning of year Cash and eAsh equlvalents at end of year (45.127) 051.510 56,548 594.962 606,383 651.510 Re¢tyn¢iiiation of net expenditure to ne¢ cgsh flow from oper4tiog activities 2022 2021 Net expendithre for the year Adjustments for: Depreciation of taii8ible axgets Decrease in stocks (Increase) in debtors {De¢rease) in creditors Intere51 receivable (56,588) (85,509) 224,272 8,171 (206,592) (46,289) 223,919 261 (4,128) (68.003) 1422) 66,118 Net cash provRded by operating activities (77,026) The Aoteson pagu 18 to JI f•m partof thev fill*lltial st*t•beth 17 The National Museum of Labour History Company Limited by Guaraotee Notes to the Financial Statements Year Ended S April 21J22 l. GeDeral Information The ciwity is a private company limited by guarantee. registered in England and Wal&s and a registered charity in England and Wales. The address of the r¢gist¢r¢d offic¢ 1$ L£ft Ban Spinningfield5, Manchester, M3 3ER. 2. Statement of Compliante These financial ststements have been prepared in compliance with FRS 102. 'The Financial Reporring Standasd applithle in the UK artd the Republic of Ireland,, the Statement of Reconunended Practice applicable to thariti&8 prepatillg their accounts iti accordance with the Financial Reporting Stsodard applicable in the UK and Republic of frelatml (FRS 102) (Cbarities SORP 2019 {FRS 1021) and the Charities Act 201 I. The Charity meets the FRS 102 def￿ltiOn of a public beDefit entity. 3. Aecountlng Polleles Basis of Preparation The f￿ancIal statements have l*en prepared on the his￿rical cost basis. The financial statements are prepared in sterling, which is the fUT￿tIOnal CUTrew of the ￿tity. B*sis of Conso]idatioD The Sta*meni of FinaDcthI Activities (SOFA) and balance sheet consolidate the fmallcial statements of the Cbarity and its subsidiary wththg. Th¢ ttsuits of tbe subshdiary are consolidated on a ltne by line basis. The Cbarity bas availed iLqeif of Pat2grapb 4(1) of Schedule l of tbe Small Companies and Groups (Accounts and Dttectots. Report) Regulacions 21K)8 and adapted the Companies Act fomiats to reflect the special natttre of the Charity's activilies. A separate Statement of Financial Activities and income and expenditure account for the Charity has not been presented beCa￿Se the Charity has taken advantage of the exernption afforded by section 408 of the Collwauies Act 2006. Going Concern The trustees have reviewed the IR￿gets, IoTJger temi forecasts at)d cash flow foreust5 that have been prepared for the Charity. Whilst there is ongoing wicetsinty following recovery from the impaci of the pandemic, alongside in¢￿asIng costs (includTng energy costs) and ihe cosi of living crisis. the tsustees are confident that the Charity will remain in exisrence for the foreseeable future. There are no malerial li1)cen￿￿¢S about th¢ Cbarity's ability to continu¢ &$ a going concern and ther¢fore the ac¢ounts have been prepared on a going concern basis. 18 The National Museum of Labour Hlstory Company Limited by Guarantee Notes to the Finaneial Statements Year Ended 5 Apri12022 3. AtCOllDtiDg policies (Co￿rRY￿j Judgements #nd Key Sources of EsiimatÈon Uneertainty The preparation of the fts)ancial sratemeots requir&s mattagement to make judgements. estimates and assumptions that affect the amowits rep)rted. These estimates and judgements are continually reviewed and are based on expetience and oiher factots. including expeclations of future events that ar¢ b¢li¢v¢d to be reasonable under the circumstances. Significant Judgements The judgements {apart from those involviD8 estimations) that tllaDagement has made in the process of applyiDg the Charity's accounting pob"¢ies and tbat have the ￿ts$1 sigllthcaut effect on the amounts reCO￿lSed in the financial statements are as follows.. Deternination of whether there are iTJdicaiors of Impairnient of the Charily's tsngiblt fixed assets. Factors taken into consideration include the economic vith'lity aod expected fiitwe f￿anCIal perfonnallce of the asset. De￿milnatiOn of the recoverdbility of trade dcbtOES. A spEcific provision is made against certain debts where In the opinion of the ttustees the debt is not considered to be fully recoverdble. Determination of whether a provision agaiTLSt stock is considered necessary. Key sources of estimabon uncertaillty Awounting estimates and assumptions are made concerning the ￿t￿re an¢1 by their natwe, will rarely equal the related actual outcome. The key assumpiions and other sources of estimation uncertainty that have a sigoificant risk of causing a material adjustment to the canying amountg of assets and liabilities with]"n the next financial year are &s follows.. Tangiblc fixed assets are depreciated over their usefid Itves taking into account residual values, where appropriate. The acDJal lives of the assets artd residual values are ￿￿ssed annually and may vary depending on a number of fac(ors. Residual value assusments consider issues such as future rn￿ket collditi0￿. the remaining life of the asset and prtsjected disposal valuos. The carying amowit of such assets is £9.238,297 {2021.' £9,455.896). Recovery of trdde deEth. A specific provision is made against Ce￿1￿ debts where in the opinion of the trustees the debt 15 not considued to be fully recoverable. Tbe provision reflected at the balance $I￿et date 15 £ryil {2021.. £nil). 19 The National Museum of Labour History Company Limited by Guarantee Notes to the Financial Statements Year Ended 5 April 2022 3. Ateounting policits Income and Ertdowments Donations and legkcie5 including donations. gifts and legacies and grants that provide core fullding or are of a genera] nature are re¢ogD]sed where there is elltitlemeni certainty of receipt and the aEnouttt call be me&8ured with sufficient teliability. Such income is only defenEd when.. The donor sp¢¢ifies that the grant or dotkation must ¢)nly be ￿ in future accounting The dontsr has imposed conditions. whieh rnust be rnet before the Charity has unconditiona] entitlement. Income from fundraising trading activities is rtcognised &8 eamed as the rela￿a services are provided. Inv&sttneDt illcome As recogtiised on a receivable b&sis. Govenwient ￿an1 income received from the CorOnavin￿ Job Retention Scheme has been recognised on a receivable b&sis in the Ststement of Financial Activities over the same period as the costs to which it relates. The Bovernment grant incorne is cla￿lfIed as ullrestricted. Fund Accounting Restricted Funds The Charity has a restricted income fund to account for situations wltere a donor requires that a dotvdtion rnust be spent on a capital developmeDI ptoject 01 sitnilar putpose. All other fimds are unrestricted income funds and they include funds used for specified projects which contribute to the ongoing work of the Museum. The funds held in each of these categories are disclosed in Notes 21 and 22. Expenditure Expenditure is recognised when a liability is incutttd. Costs of g¢n¢Tal￿g funds in¢lude thos¢ ¢osts incurr¢d in attrdcting voluDtary Ille0￿e, those incurred in management seryice provision that raise fimds and ￿sts of iDvestTnent management. Charitable activities include expenditwe associated with the pr()vision of charitsble services and include b(bth th¢ direct costs and support Costs relating to these aetivities. Support costs are those fiEnctions that assist the work of the Charity but do not directly undertake charitable aciiviues. Supwn costs include back•oIYice fAJsts, finance, personnel. payroll and governaoc¢ costs which sUPPOrt tbe Museum activitics. Resources expended are allocated to the particular activity where the cost relat&% dirtcily to that 20- The National Museum of Labour History Company Limited by Guarantee Notes to the Financial Statements Year Ellded 5 April 21122 activity. Certain other costs. wbicb are attributable to moEe than one activity, are apportioned acr05S the Cost categories on the basis of an estimate of the prowrtion of time spent by staff on those activities. Costs allocated to charitable activities are the a)sts &ssocia*d with achieving the charity's main objectives. Accounting pollcies Ailocatiott of support costs Suppon costs have been allocated beNeen govemance and other support costs. Governance costs comprise all costs involving public accountability of the Charity and its compliance with regulation and good practice. Support a)sts include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. includin8 allocating property costs capita, staff costs by the time spent and other a)sts by their usage. FRxed Assets All fixed assets are initially recorded aicosL Assets pwchased with a value of £l.LK)O or greater have been capitalised and included a5 fixed asset additions. Depreciation Depreciation is calculated so as to wri* off th¢ cost of an ass¢4 I¢s5 tts ￿tin￿ted rtsidual value. over the weful ￿0￿0￿￿1¢ lif¢ of that as5el as follows: Museum building Equiptnent Fixtures and fittin Long leasehold buildings Exhibition fixvjres & fitiitigs 3- $0 years 10 years 10 years 50 years Ioyea The Museum building includes both the building stnjcture with a life of between 10 and 50 years alld building fit-out costs with a life of beNeen 3 alld 10 years. Siock Siock is included at tbe lower of cost or uet realisable value. Donated items of stock a recognised at fair value which is the amount the Charity would have been willing to pay for the Items on the o￿n markeL Debtors Trade and other debtots are recognised at the senlemeni amount due after any trade discount offered. Prepayments are valued ￿ the amouni prepaid net of any trade discounts due. Cash at bank And in hand 21 The National Museum of Labour IIistory Company Limited by Guarantee Notts to the Financial Statements Year Ended S April 2022 Cash at bank and c&th in hand includ&s cash and short tenn highly liquid investtnents with short maDJrity of three months or less from the dale of acquisilion or opening of the deposit or similar accounL J. Accounting polioes Creditors and provi5iOn5 Creditors and provisions are recO￿lSed where the Charity has a pitsent obligatson resulting from a past event that will pri)bably result in the transfer of funds to a third paty and the amount dut to settle the obb"gation can be measured or c5titDated reliably. Creditois alld provisions ate nomially recogntsed at theit settlejneni amount a(￿ allowing for any trade discounts due. Financi81 instruments Tht group ollly has f￿￿￿121 and fiDartcial liabilities of a kind that qualify as basic financial instruments. Basic financial instn￿ellts are hnitsally recognised at transaction value and subsequently measured &t t￿1r settlement value. Operating Lease Agreements Operating lease rentals are clwged to the slatell￿nI of Fitmncial Activities on a straight-line basis over the peri￿ of the lease. Pension Costs The employtts of the Museum are members of the Greater Manchester Pen5iou Fuud IGMPF). Tbe S£h¢me is admini5t¢red by Tamesid¢ Metyowlitan Borougb Council. The Scheme provides benefits on final ￿￿￿10nable pay. This is a Tnulti-employer scheTne where the share of assets and liabilitses is not separately identifiable. The Museum has therefore accounted for its pension costs on a defmed contribution basis as pem)itted by FRS102. Contributions to the scheme ate cbarged lo the Statertleot of Financial Activities iti the period to which they relate. Exhibits No value is attributed to exhibits donated to the Museum because either these assets are inalienable {the Charity is pmhibited by its governing document from disposing of these assets) or neither a c05t Dor market value xs avai]able for the exhibiL Expenditure which is required to preserve collection Ite￿￿* is Teco8nised in the Ststement of Financial Activities when it is incurred. Taxation Th¢ CompaDy is a registered Charity and by virtue of its trading artivilies being in fvlfilment of the objects of the Charity, the Chariiy is exempt from corporation rax on all charitsble activitie5. 22 The National Museum of Labour History Company Limited by Guarantee ]Yotes to the FinaDtial Statements Year Ended S April 2022 4a. Donations and 1*8aeies- Unrestricted Collectifjns and Comms EngAgement Operations and PR Total Funds 2022 Total Fullds 2021 Gifts and sponsorship Gift in kL"nd from maT￿￿es￿T City Council General dona¢ions and subscriptsons Radical Htto¢s Banner conservation 168,717 11,370 2.005 168,717 34,108 6.013 70,211 168,717 11,369 2,004 70.211 11,369 20,908 Grants receivable GMCA Businessrru Sponsorship Arts Council England Ttust & Foundations COronavin￿ Job RetentAon Scheme Other 163,588 7,920 185,676 163,588 7,920 185,676 81,794 3,960 92,838 408.970 408,970 19,800 21,200 464,1911 347,847 23.550 160.208 138,995 10.372 75.303 10.372 75.303 5,186 37.651 25.930 188.257 526,443 624,9SI 234,802 1 J86,196 1,401,512 4b. Donations gnd Leg*cies- Restricted Colltttions Total Funds 2022 Total FuDds 2021 CDmm$ and PR Engagement Operations Grants receiv4ble Arts Council England Designated Development Fund Trust & Foundations Other National LAittery Heritage Fund Grant 73,369 48,888 41.952 22.000 2,727 22.000 2,727 55.000 6.818 1,364 51,800 51.800 129,500 33,073 25.900 74527 76527 38264 191,318 197.282 The National Museum of Labour History Company Limited by Guarantee Notes to the Finan¢i21 Statements Year EDded S April 2022 Income from chgritgble •ctsvities Unrestrirted Unrestricted Funds Funds 2022 2021 Income from Curatori￿. exhibition and educational activities 8.S21 Commerci*l Trading Oper4tions Commercial trading operations principally relatt to the trading subsidiary company, The National Museum ol Labour Hislory Trading Company Lirnited, company nurnber 02526352. The profit lor The National Museutll of iAbour History Trading Compally Litnited for the year euded 5 April 2022 was £26.042 (2021: £7,881). Investment Income Unrestricted Unrestricted Funds Funds 21122 2021 Bank illieresi receivable 422 Other Ineome Unrestricted Unrestricted Funds Funds 2022 2021 VAT repayment Insurance receipt 3.150 19,824 22,974 Anxly$i$ of expenditsre OD r*isiDg fund$ UDre5tricted UnrestTieted FuMds Funds 2022 2021 ComTllercial Trading 0￿rationS 89,283 14,397 24 The National Museum of Labour History Company Limited by Guarantee Notes to the Finaneigl Statements Year Ended 5 April 2022 10. Analysls of expendlthre on eharltsble aetlvStles Collections and Engagtment Operations Cornms Total Funds PR 2022 Total Funds 2021 Exhibition costs Learning Conservation Wages & Salaries Employer's NJC Pensioll costs Staff- casual coverl training Irecrnitsnent Rent and rate5 Water Light & beat Repairs & maintenance Insurance Marketing Support Costs Travel & subsistence tLgal & professional fees Sundry expenditure Telephone Postage. printing and stationery Depreciatiori Governance costs- audit fees 36,446 4,780 1,49S 285,766 21,711 67,750 36,446 4,780 1,49S 714.416 54,277 169J74 24,820 9,892 560 730,796 58,477 180,012 285,766 21,71J 67,750 142,884 10,855 33,874 7.116 7,116 169,889 2.425 90.199 168J60 3,558 17,790 169,889 2.425 .199 168J60 24,111 42,135 47,202 168.717 3.441 80,405 112,661 24.473 26.604 9,644 4,823 42,135 1,059 1,059 850 616 595 J,058 3,176 850 616 1,784 574 7.450 2,052 1.529 595 594 815 74,757 815 74,7S7 816 74,758 2,446 224.272 223.919 4,182 S16.116 4,182 905.734 4,183 319￿38 12,547 1,738,456 8,050 1,712.765 Of the £1.738.456 expendittwe in 2022 (2021= £1.712.765). £1.455.721 was charged to unrcslricted fund$12021.. £1,398,362) and £282.735 to restrict¢d fvnds (2021: £314,403>. 11. Trustees Expen5e5 No travel expensts w¢r¢ r¢imbursed to trustees in the year (2021.. £nil) The Trust¢e$ did not receive any remuneration during the year (2021.. £nil). 12. Net Outgoing Re50urce5 for the Y This is ststed after cbatgittg-. 2022 2021 Staff pension contributions Depreciation Auditors, reM￿CratiOn- Audir fee Auditors, retnuneration- Non-Audit fees 169J74 224.272 8JOO 5,825 180,012 223.919 8.050 850 25 The National Museum of Labour History Company Limited by Guarantee Notes to the Fin8ncial Statements Year Ended S April 2022 13. Staff Costs and Emoluments Total staff eo$t$ were *$ follow$". 2022 2021 Wages and salaries Social security costs Other pension costs 73&661 S4.277 169J74 730.796 58.477 180,012 962P12 969,285 Pension obligations The National Mus¢um of Labour Hist￿ is an "Athnirted Body" to tbe Greater Manchester Pellsion Fund (GMPF). GMPF is a fDuIti-employer defll)ed beDefit scherne. being part of the Local Governwnent Pension Scheme. The l&st fortnal valuation of the schem¢ w&8 p¢rforni¢d at 31 March 2019 by a prgfes$ionally qualified actuary using the 'ProJecÉed Unit, actuarial Tnethod. The Enarket value of the Fund's assets at thai date w&s £23,844,(U),(K)O. It is not possible to identify the share of underlying &$seL% and liabilities belonging to individu participatitig employers. Financial &ssumptions Thc fit￿)CIal assumptions underlying th¢ valuation were as follows.. Discount Tate cpi Pay increases Penston increases The valuation revealed a sutpIL8 of asseL% CoJnp￿ed with the value of liabilities of £529 million. The Iyational Museum of Labour History Company Limited by Cuarantee otes to the Financial Statements Year Ended 5 Apri12022 13. Slaff Costs and Emoluments ParticllIars of employtes: The average htad Count of employtts during the y¢ar was 39 {2021: 34}. The average of employ¢¢5 during th¢ year. calculated on the basi5 of fidl-titne equivalents. was as follows: 21122 2021 No 25 Numb¢r of ￿￿eurn staff NuTnber of support staff 26 30 29 No employee Teceived remuneration of more than £60.(KIO during the year (2021.. none). The Board considers its key management personncl compris¢ th¢ Trustres and the SeThior Manag¢ment T¢atL The total ¢MpIo￿lnent benefits including employer pension contributions of the key management personnel were £173.227 (2021.. £152,888). 14. Tanglble Fixed As5ets- Group and Charity Museum Building (restricted) Equipment Exhibition Fixtures & tka5ehold FlI￿re5 & Fittings Property Fittings Total Cost Ai 6 April 2021 Additions 12.530.726 391.229 180.919 6,733 103.301 313,15l 13,519,326 6.733 313,151 13,521059 At S April 2022 11530,726 391J29 187,652 Depreelatio At 6 April 2021 Charge for the year 3.379,203 327.120 66.687 47.419 243,061 4.063.490 183.372 1.179 14.743 2.066 12.912 224,272 255,973 4,287,762 A( S Aprll 2022 3,562,575 338299 81,430 49,485 book value At 5 April 2022 Ai 5 April 2021 &968,15A 51930 106,222 53016 55,882 57,178 9,238,297 70,090 9,455,896 9.151.523 64.109 114.292 27 The National Museum of Labour History Company Limited by Guarantee Flotes to the Finaneial Statements Year Ended S April 21b22 15. Investments- CharEty Movernent in market value 2022 2021 Market value at 6 April 2021 Market value at 5 April 2022 Histori&ql c05t at 5 April 2022 Analysis of investments at 5 April 2022 between funds Unrestricted FuDd5 Restricted Funds Total FuDds 2022 Total Funds 2021 Other investments UK Group uttdertkn"D8S The Naiional Museum of IAbour HIs￿ry TradLDg Company Litnited is a wbolly owned subsidiary of The National Museum of Labour History. The subsidiary company is incorporated in England and Wales. The pr]ncipal activities during the year were running of the Museum shop. co￿Orate room hire and other income generation xtivities. 16. Stocks Group Charity 2022 2021 2022 2021 Sto¢k 17.547 25.718 17. Debtors Group Charity 2(122 2021 2022 2021 Trade debtors Amounts owed by group utth￿8s Prepayrnents and accrn¢d income Other debtors 154,795 115.981 133.853 141,594 213.588 10,089 109.513 37,298 55,769 645 213.588 10,689 55,853 645 379,072 172,479 499,724 203,225 28- The National Museum of Labour History Company Limited by Guarantee Notes to the Financial Statements Year Ended S April 2022 18. Creditors.. Amounts falling due witbin one year Group Charity 2021 2022 2021 2022 Trad¢ creditors Accruals and deft￿ed Income Loan Other taxation and s¢Kiai ￿UrIty OtheT creditors 23,064 129.873 JO,536 8.593 2,232 33.393 173,113 21J72 33.359 129.873 172,255 10,536 1,373 2,232 2.232 2,232 164,013 207,846 174,298 210,111 19. Creditor5: Amounts falling due *fter more than one year Group Charity 2021 2022 2021 2022 Loan 2&096 28,096 2&096 2&096 During the year the cbarity received a l(tran from Access to Growth GM which will be repaid over 3 years from the date of drawdown. Interest 15 charsed at a fixed rate of 6.6ts/0. 20. Commitments under Operatitsg IAses- Group and Cbarity At 5 April 2022 the Charity had total commitments under non-Gkncellable operdting I￿￿5 as set out below. Assets otber iha L•nd a￿d buildings 2022 2021 Operating lea$e$ wbicb expire: Withi"n l year Within 2 to 5 years 400 500 900 29- The National Museum of Labour History Company Limited by Guarantee Iyoto to the Fingncial Statements Year Ended S April 2022 21. Restricted Income Funds- Group and Charity Bxlance at 6 April 2(121 Incoming resourct5 Outgoing resources Transfers between funds Balance at 5 Apr51 2022 Building grant Arts CouDciI England Joseph Rowntree Respond and Reimagine Art Fund Foyle Foundation Garfield Weston Foundation Access to Growth National LK)ttery Heritage Fund Total Funds 9.471.252 73.369 (183,372) (26.697) 9.287,880 46.672 25.076 37,590 (25,070 (37.590) io.o(K) (10.000) 25,(MM) 30.{￿K1 25.000 30.000 6.818 I29.5￿) 6,818 129,500 9,617,287 191 J18 (282.735) 9.525,870 The builthng grant relai&% ts) fijnds received which were only to be used for capithl expenditure enabling redevelopmen¢ and improvement of the Museum buildiDgs. The main fi￿derS include Arts Council England and restricted projed funding was Te¢eived from National Lottery Heritage Fund. Joseph Rowntree Chatitable TnJsL Art Fund (including Respond and Reill￿ge). Foyle Foundarion and Garfield Weswn Fowidation. 22. Unrestricted Income Fund5- Group and Ch￿lty Group Balance at 6 April 202A Transfer5 betweeD fund5 Balanc¢ at S April 2022 Incoming resour¢es Outgoing r¢sourc General Funds 478.205 1379.834 (J,$45,004) 513,035 Charity Balgnee at 6 April 2021 Tr4nsfer5 between fund5 Balance at 5 April 2022 Incoming resources Outgoing resource5 General Funds 481,IM4 IN69,014 (1,460,168) 489,833 30- The National Museum of Labour History Company Limited by Guarantee Notes to the Financial Ststements Year Ended 5 April 2022 23, An4lysis Net A55ets Be￿cen Funds- Group Tangible Net current rixed assets assets Total Restricted Income Funds Building grants Arts Council England Foyle Foundation Garfleld Weston Foundation Access to Growth National Lottery Heritage Fund 8.968.151 319,729 46,672 25.000 30.000 6.818 129.500 9.287.880 46.672 25.000 30,000 6,818 129,500 8,968.151 557.719 9,525,870 Unrestricted IDcom¢ FuDd$ 270.146 9.238,297 242.889 513.035 Total Funds 800.608 10.038.905 24. Conjpany Limited by Guar*nt¢e Th¢ National Mus¢um of Labour History is A compatly limited by guarantee but not having a sh8re capital and is registered 8$ a charity under the ChatL"ties Act 2011. Every member undertakcs to contribute to the assets of the MuseutD in the event of it beiJ)g wound up while they ate a member. or withi.ll one year aftrr they cease to be 8 memb¢r and of the costs. charges and expense of wnding up. and for the adj￿5trn¢nt of the rights of the contyibutories among themselves. such amounts as may be r¢quire(L Dot exeeeth.ng £1 per ember. 25. Related Party Transactions In accordance with FRS 102, the Charity discloses related party transac¢ions that were recogniseAJ in the Stsiemen( of Financial Activiiies. Trustees. reMun￿￿tIOn and expenses are diselosed in note I l and remunerathon of key mallagement persoon¢l 15 disclosed in ttotr 13. During the iwo of the Tn￿teeS declared that a family member was ¢mployed by the Chatity {2021= 2). The employe¢s Concern￿ wu¢ Ellen Bassam £630 {2021 £4,932) daughter of Trustee JS Bas5am (Lord) and Serpil Lindsay £12,990 {2021- £5.310) wife of Trustee Steven Lindsay. The figutes indicate the total cost to the Clthrity of their employment including Employets Nl and Employers Pellsioll contributiow. In both cases application and inttrwew procedures weie followed, no conflict or signifi¢ant benefit was perceived and both Trusiees declared the inierest and did not vote on pay sca]e changas tbat affected all stsff. 31 The National Museum of Labour History Company Limited by Guarantee Notes to the Finanelal Statements Year Ended 5 April 2022 25. Related Party TrnnsactioDS {contiDued) During ihe year the Charity recelved a gift aid donation of £nil (2021 £114,780) from its subsidiary, NatEonal Museum of Labour H"LStory Tradlng Company Limited. The balance due from Natiollal Museutn of Labour History Trading Cornpany LiTnited at the ye4r-end was £141.594 (2021- £37,298). There were no other rclatcd party transactions during the year. 26. Analysis of Changes In Net Debt At 6 April 2021 Casbfiows At S April 2022 Cash at bank and in hand Loan 651.510 {45.127) {38,632) 606.383 (38,632) Total 651510 (83,759) 567,751 32