| Page | ||||
|---|---|---|---|---|
| Refcrcnce and Administrative Details |
||||
| Report ofthc Trustees | 2 | to | 4 | |
| Rcport ofthc lndcpendcnt Anditors |
5 | to | 7 | |
| Statcmcnt ofFinancial | Activities | |||
| Balance Shcct | ||||
| Notes to thc Financial | Statcmcnis | 10 | to | 20 |
| Detailed Statement of | Financial Activities | 21 | to | 22 |
| 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||||||
| fund | fund | fiinds | fimds | ||||||
| Notes | f | ||||||||
| INCOME AiVD ENDOVYMENTS | FROiM | ||||||||
| Donations and legacies |
2 | 164,995 | 164,995 | 127,830 | |||||
| Charitable activities |
|||||||||
| Fan Museum | 13,063 | 13,063 | 3,771 | ||||||
| Investmcnt income |
147,984 | 147,984 | 118,971 | ||||||
| Other income | 32,347 | 32,347 | 49,965 | ||||||
| Total | 358,389 | 358,389 | 300,537 | ||||||
| EXPENDITURE | ON | ||||||||
| Itaising funds |
G | 19,851 | 19,851 | 22,049 | |||||
| Charitable activities |
|||||||||
| Fan Museuin | 289,053 | 289,053 | 256,794 | ||||||
| Total | 308,904 | 308,904 | 278,843 | ||||||
| Nei gainsi(losses) | on | investments | (312,217) | (312,217) | 138,654 | ||||
| NET INCOME/(EXPENDITURE) | (262,732) | (262,732) | 160,348 | ||||||
| Transfers between |
funils | 17 | (455) | 455 | |||||
| Net movement in |
funds | (263,187) | 455 | (262,732) | 160,348 | ||||
| RECONCILIATION | OF FUNDS | ||||||||
| Total funds brought | forward | 5,720,902 | 664,686 | 6,385,588 | 6,225,240 | ||||
| TOTAL FUNDS | CARRIED FORWVAICD | 5,457,715 | G65,141 | 6,122,856 | 6,385,588 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Endownient | Total | Total | ||
| FIXEDASSETS | Notes | fund f |
fuiid 8 |
filllds | funds 8 |
| Tangible assets Heritage assets investments |
12 13 14 |
55,251 1,691,465 3,336,842 |
665,141 | 55,251 2,356,606 3,336,842 |
67,113 2,35G, I5 1 3,524,G99 |
| 5,083,558 | G65,141 | 5,748,699 | 5,947,963 | ||
| CURRENT ASSETS | |||||
| Debtors Cash at bank |
15 | 58,870 339,251 |
58,870 339,251 |
55,040 410,089 |
|
| 398,121 | 398,121 | 465,129 | |||
| CREDITORS | |||||
| Amounts falling duc within onc year |
16 | (23,964) | (23,964) | (27,504) | |
| NET CUIUZENT ASSETS | 374,157 | 374,157 | 437,625 | ||
| TOTAL ASSETSLESSCUltRENT | |||||
| LIABILITIES | 5,457,715 | 6GS, 141 | 6,122,85() | 6,385,588 | |
| NET ASSETS | 5,457,715 | 665,141 | 6,122,856 | 6,385,588 | |
| FUNDS | 17 | ||||
| Unrestricted funds |
|||||
| Endowment funds |
5,457,715 | 5,720,902 | |||
| 665,141 | 664,686 | ||||
| TOTAL FUNDS | |||||
| 6,122,856 | 6,385,588 |
| 7023 | 2022 | ||||
|---|---|---|---|---|---|
| I | |||||
| Dollatiolls | 78,114 | 35,448 | |||
| Covenants | and | Gift | aid | 86,881 | 92,382 |
| 164,995 | 127,830 |
| THE FAiV MUS | EUM TRUST | |||||||
|---|---|---|---|---|---|---|---|---|
| iVotes | to the Financial | StatemenH - continued | ||||||
| for thc year ended 31March 2023 | ||||||||
| 3. | INVESTMENT INCOME | |||||||
| 2023 | 2022 | |||||||
| Income From listed investtncnts Deposit account interest |
145,659 2,325 |
f 118,891 80 |
||||||
| 147,984 | 118,971 | |||||||
| 4. | INCOME FROM CHARITABLE | ACTIVITIES | ||||||
| 2023 | 2022 | |||||||
| Activity | f | |||||||
| Grants Museum admissions |
Fan Fan |
Museum Museum |
13,063 | 1,000 2,771 |
||||
| 13,063 | 3,771 | |||||||
| Grants rcccivcd, included | m | the | shove, are as follovvs: | |||||
| 2023 | 2022 | |||||||
| Circle ofArts | 1,000 | |||||||
| OTHER IiVCOME | ||||||||
| 2023 | 2022 | |||||||
| Sundry rcccipts Rmttal income Coronavirus Job Retcnuon Govcntment grants |
Schente | f 7,133 25,214 |
f, 6,657 25,800 5,508 12,000 |
|||||
| 32,347 | 49,965 | |||||||
| 6. | RAISING FUNDS | |||||||
| INVESTMENT hIANAGEMENT | COSTS | |||||||
| 2023 | 2022 | |||||||
| Portfolio management | 19,851 | 22,049 |
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Management | I'inance | costs | Totals | |
| f. | f | f. | ||
| Pan Museum | 275,020 | 221 | 4,700 | 279,941 |
| NET INCOME/(EXPENDITURE) | ||||
| Nct income/(expenditure) is slated ager |
charging/(crediting): | |||
| 2023f | 2022 | |||
| Auditors' rmnuneration |
4,700 | 3,300 | ||
| Dcprcciation - owned assets | 15,130 | 17,275 | ||
| Hire ot plant and machinery Deficit on disposal offixed assets |
2,899 665 |
3,569 |
| STAF | FCOSTS | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| f | ||||||
| tt/ages | and salaries | 93,192 | 97,078 | |||
| Social | security costs | 3,432 | 3,479 | |||
| Other | pension costs | 2,961 | 1,875 | |||
| 99,585 | 102,432 | |||||
| Thc average monthly |
number ofmnployccs | during | the year was as t'ol lowe: | |||
| 2023 | 2022 | |||||
| Engaged ui charitable |
activities | 3 | 3 | |||
| Adniinistration | I | I |
| Notes to the Financial Statenients -continued for thc year ended 31March 2023 |
Notes to the Financial Statenients -continued for thc year ended 31March 2023 |
Notes to the Financial Statenients -continued for thc year ended 31March 2023 |
Notes to the Financial Statenients -continued for thc year ended 31March 2023 |
|||
|---|---|---|---|---|---|---|
| 11. | COMPAIIATIVES FOR THE STATEMFNT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Endowment | Total | ||||
| fund | fund | fiinds | ||||
| li'ICOME AiVD ENDOIVMENTS | FROM | |||||
| Donations and legacies |
127,830 | 127,830 | ||||
| Charitable activities |
||||||
| Pan Museum | 3,771 | 3,771 | ||||
| Invcsuilctlt hlconlc Other income |
118,971 49,965 |
II8,971 49,965 |
||||
| 300,537 | 300,537 | |||||
| EXPENDITURE ON | ||||||
| Raising lUll(ls |
22,049 | 22,049 | ||||
| Charitable activities |
||||||
| Fan Museum | 256,794 | 256,794 | ||||
| Total | 278,843 | 278,843 | ||||
| Nct thous oil IflvCStnlClltS | 138,654 | 138,654 | ||||
| NET INCOME Transfers between funds |
160,348 (593) |
593 | 160,348 | |||
| Nct movcmcnt in funds |
159,755 | 593 | 160,348 | |||
| RECONCILIATION | OFIiUNDS | |||||
| Total lands broughi folivard |
5,561,147 | 664,093 | 6,225,240 | |||
| TOTAL FUNDS CARRIFD FOR3VARD | 5,720,902 | 664,686 | di,385,588 |
| 12. | iNotes to the Financial Statements - for the year ended 31 iularch TANGIBLE IIXEDASSETS |
continued 2023 |
|---|---|---|
| lrixtuies | ||
| a!16 | ||
| COST | flltlngS f |
|
| At I April 2022 Additions |
143,413 | |
| Disposals | 3,933 | |
| (4,07G) | ||
| At 31 March 2023 | ||
| 143,320 | ||
| DEPRECIATIOiN | ||
| At I April 2022 Charge for year Eliminated on disposal |
76,300 15,130 (3,361) |
|
| At 31 March 2023 | ||
| 88,069 | ||
| NET BOOK VALUE | ||
| At 31 March 2023 | ||
| 55,251 | ||
| At 31 March 2022 | ||
| 67,1!3 | ||
| 13. | HEIUTAGE ASSETS | |
| Total | ||
| hIARKET V&LLUE | f | |
| At I April 2022 Additions |
2,356,151 | |
| 455 | ||
| At 31March 2023 | ||
| 2,35G,606 | ||
| NET BOOI&VALUE | ||
| At 31March 2023 | ||
| 2,356,606 | ||
| At 31 March 2022 | ||
| 2,35f&,151 | ||
| 14. | FIXEDASSETINVESTiVIEISTS |
| FIXEDASSETINVESTiVIEISTS | |||
|---|---|---|---|
| Sluires in | |||
| group | Listed | ||
| MARKET VALUE | undcrtaklllgs f |
lnvesllnellts f |
Totals |
| At I Apnl 2022 Additions |
100 | 3,524,599 | 3,524,699 |
| Disposals | 8G4,528 (1,052,385) |
864,528 (1,052,385) |
|
| At 31 March 2023 | 100 | 3,336,742 | 3,336,847 |
| NET BOOK VALUE | |||
| At 31 March 2023 | 100 | 3,336,742 | 3,336,842 |
| At 31 March 2022 | 100 | 3,524,599 | 3,524,699 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Bond holdings Equitics holdings Alternatives and related |
holdings | f. 976,725 1,736,701 C)23,316 |
f 806,601 2,042,652 C&75,346 |
|||
| 3,336,742 | 3,524,599 | |||||
| 15. | DEBTORS:AMOUNTS FALLING DUE 5YITHIN ONE YEAR | |||||
| 2023 | 2022 | |||||
| Amounts owed by group Other debtors VAT Prepaymcnts and accrued |
undettakings income |
21,463 15,594 9,656 12,157 |
17,761 16,523 8,410 12,346 |
|||
| 58,870 | 55,040 | |||||
| 16. | CRFDITORS: AMCJUNTS FALLING DUE VVITIIUV ONE YEAR | |||||
| 2023 | 2022 | |||||
| Trade crcdttors Social security and other taxes Accntals and deferred income |
5,716 2,353 15,895 |
8,484 2,355 16 CrCi5 |
||||
| 23,964 | 27,504 | |||||
| 17. | MOVEMENT IiV FUNDS |
|||||
| Nct | Transfers | |||||
| movemcnt | between | At | ||||
| Unrestricted funds |
At 1.4.22 f |
in | funds f. |
funds | 31.3.23 f |
|
| General fund | 5,720,t)02 | (262,732) | (455) | 5,457,715 | ||
| Endotvment funds |
||||||
| Endowment fund |
664,686 | 455 | 665,141 | |||
| TOTAL FUNI&S | 6,385,588 | (262,732) | 6,122,856 |
| Incoming | Resources | Gable slid | Movement | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | funds | resources | expended f |
losses f |
in funds f. |
||
| General fund |
358,389 | (308,904) | (312,217) | (262,732) | |||
| TOTAL 11UiVDS | 358,389 | (308,904) | (312,217) | (262,732) | |||
| Comparatives | for movement | in funds | |||||
| Net | Transfers | ||||||
| eleven)cut | I)ct')cecil | At | |||||
| Unrcstrictcd | funds | At 1.4.21 f. |
in funds f |
funds f, |
31.3.22 | ||
| General fund | 5,561,147 | 160,348 | (593) | 5,720,907 | |||
| Endolvment | funds | ||||||
| Endowment | fund | 664,093 | 593 | 664,6S6 | |||
| TOTAL FUNDS | 6,225,240 | 160,348 | li,385,588 |
| Incoming | Resources | Gains and | Moveiucnt | |||
|---|---|---|---|---|---|---|
| Unrestricted | funds | resources f |
expended f |
losses | ill funds f. |
|
| General | fund | 300,537 | (278,843) | 138,654 | 160,348 | |
| TOTAL | I'UNDS | 300,537 | (278,843) | 138,654 | 160,348 |
| for the year ended 3 | l March 2023 | ||
|---|---|---|---|
| 2023 | 2022 | ||
| f. | |||
| INCOME AND ENDOVVMENTS | |||
| Donations and legacies |
|||
| Donations | |||
| Covenants and GiA aid |
78,114 | 35,448 | |
| 86,881 | 92,382 | ||
| 164,995 | 127,830 | ||
| lnvcstsnent income |
|||
| Inconm from listed investrncnts Deposit account interest |
145,659 2,325 |
118,891 80 |
|
| 147,984 | 118,971 | ||
| Chnritablc activities |
|||
| Grants | |||
| Museum admissions |
1,000 | ||
| 13,063 | 2,771 | ||
| 13,063 | 3,771 | ||
| Other income | |||
| Sulsilrj rcccitus Rental income |
7,133 | 6,657 | |
| Coronavirus Job Retention Govemmcnt grants |
Scheme | 25,214 | 25,800 5,508 12,000 |
| 32,347 | 49,965 | ||
| Total incoming resources |
358,389 | 300,537 | |
| EXPENDITURE | |||
| Investment management |
costs | ||
| Ponfolio management | 19,851 | 22,049 | |
| Charitable activities |
|||
| Museunt expenses Exltlbitloll expenses Loss on sale oftangible lixed nsscts |
7,083 1,364 665 |
7,393 181 |
|
| 9,112 | 7,574 | ||
| Support costs | |||
| Management | |||
| YVagcs Social security Pensions |
93,192 3,432 |
97,078 3,479 |
|
| Hire ofplant and machinery Rates and water Canicd forward |
2,961 2,899 1,530 |
1,875 3,569 791 |
|
| 104,014 | 106,792 |
| TIIE PAN MUSEUM TRU | ST | ||
|---|---|---|---|
| Detailed Statement ofI'inancial | Activities | ||
| for the year ended 31 iMarch | 2023 | ||
| 2023 | 2022 | ||
| Mnnagcmcnt | |||
| Broughtfotward Insurance Lightand heat Tclephonc Postageand stationety Advertising Stllxlllcs Repairs k, renewals - equipment lnfomtation technology costs Repair /k maintenance -building Cleaning and general cxpcnses Bookkeeping S.accountancy Legal /k professional fees Fixtures and finings |
104,014 20,296 6,408 770 4,638 9,790 6,773 4,627 3,825 50,137 17,629 19,040 11,943 15,130 |
106,792 18,410 6,057 1,240 2,020 5,953 5,359 4,225 5,314 26,212 10,007 19,040 17,572 17,274 |
|
| 275,020 | 245,475 | ||
| Fl11altcC | |||
| Bank charges | 221 | 445 | |
| Covernance costs |
|||
| Auditors' rcmuncration |
4,700 | 3,300 | |
| Total resources cxpendcd | 308,904 | 278,843 | |
| Net inconte before gains and lasses | 49,485 | 21,694 | |
| Realised recognised gains and insscs |
|||
| Real isccl gains/(leases) on fixed asset investments |
(312,217) | 138,654 | |
| Net (cxpenditurc)/income | (262„732) | 160,348 |