REGISTERED NUMBER: 02108180 CHARITY NUMBER: 297397 Trustees, Report and Flnancial Statements for the Yeaf Ended 31 March X124 crri DISCOVERY CENTRE
CITY DISCOVERY CENTrE {A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2024 The Trustees present their annual rèport together with the audrted financial statements of the City Discovery Centre for the year l April 2023 to 31 March 2024. Introduction to the Charity Office Address Milton Keynes City Discovery cent (also known MKCDC or CDCI has been based at the Scheduled Ancient Monument ISAMI site of Bradwell Abbey Ino.190621 in Milton Keynes since 1992. The physKal office address is The Farmhouse, Bradwell Abbey, Alston Drive. MIOn Keyne5. MK13 9AP. Charity Registration Oetails The registered Charity number is 297397 and the subsidiary Trading Company registration number is 3431035 with the VAT number.. 737420341. Bankers. Soli¢ilors and Audito B3nkers- HSBC119 Midsummer Pla, Mihon Keynes) and CAF Bank1125 Kings Hill Avenue. Kin8s Hill. West Mailin& Kent. ME19 4JQJ Solicitor5- Geoffrey leaver Solicitors LLP 251 Upper Third Street, Bouverie Square. Milton Keynes, MK9 IDR Auditors- Harris & Co (Accountants) Ltd, 2 Pavilion Court, 6(M) Pavilion Drive, Northampton Business Park, Northampton. NN4 7SL Charity Information MKCDC was established in July 1987 as a registered Educational Charity with a not-ft)r-profit subsidiary tradin8 company (City Discovery Centre Ltd), which was started on advice recewed from the Charities Commission. The trading company is limited by shares and all surplus ndS generated are passed on to the charitable arm to fijnd andlor subsidise its work and delwery. The subsidiary trading company's sole purpose is thus to utilise the site and facilities at Bradwell Abbey Iwhere it was purposeful placed by the CNT to utilise the site for this purpose and act as tts custodianl and tts skills base to generate income to enable the Chari(y to carry out its charitable objectwes. The Charity is governed by a Memorandum and Artides of Association that were last amended on the 15th of January 1998. The Cufrent organisatn represents an amalgamation of two earlier community initiated bodies i.e. the Milton Keynes Urban Studies Centre Iwhich focused on urban environmental education, intluding urban history and geography) and the Bradwell Abbey Field cent Trust (focused on archaeology, natural history and environmenil. We aim to address these broad focus areas in the services we delNer as the Mihon Keynes City Discovery Cerstre.
CITY DISCOVERYCENTrE IA company limited by 8uarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Objectives and artivitits a. Charitable Objectives The Milton Keynes City Oiscovery Centre's Primary Objertrve is to promote a Bater appreciation and understanding of the historical, natur81 and buitt environments of Milton Keynes. b. Activitses and Servi To promote our charitable objeciives, we are constantly monitoring the relevant school curricula and also the educational attainment needs of our clients. We often have to be responsive and have made continuin8 chan8es to our edLtcational materials and areas of delivery in the last year because of changing nature of our customers. In pursuit of its charTtable, educational. herttage and comrnunity oblectives, MKCDC aims to- promote geography and history as areas of study in schools- promote careers related to geography and heritagel history,. promote heritage experiential learning through herrffage re*nactment, drama and storytellingi promote geogr8phy experiential learning through city tours, site visits and fieldwork.. promote educational programmes and actNities to support all levels of learning in urban studies and sustainable development- promote urban geography and urban plannin8/desi8n usin8 Milton Keynes as a living model.. inform and educate the public about urban geography, urban plannin8/des¥dn and urban sustainability,. and how these impact on their lives and future development of Milton Keynes,. deliver programmes related to the natural environment, environmental studies and landscape archltecture,. maintain the Milton Keynes New Towns Archive and Reference Library which includes a large component of Milton Keynes Development Corporation's material and material about the continued and future development of Milton Keynes,. manage and maintain the Bradwell Ablw Scheduled Ancnt Monument site in partnership with the Milton Keynes Council Ithe site owners) for the benefit of the people of Milton Keynes- host a variety of arts. music, cultural and heritage open days and community/public/famity events on the Bradwell Abbey site- and deliver programmes for people from all over thè workl reflecting the social heritage, urban and cultural developmenl of Milton Keynes as the UK'S most successful New Town.
crry OISCOVERY CENTRE Contents of the Financial Statements Page Reference and administratNe detalls of the Company. its Trustee5 and advisers Trustees, report 3-21 Independent auditors. report on the financial stsiements 22-27 Consolidated statement ot financial activities 28 Consolidated balance sheet 29-30 Company balance sheet 31-32 Notes to the financial statements 33-45
crty DISCOVERY CENTRE IA company limited by 8uaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES Professor D Lock, Non-executive president S P Crowther. Chair J Lloyd. Trustee P Cox, Trustee B Adams. Trustee R Excon. Trustee P Martin, Trustee M Petchey lappointetl 3 January 20241 M Potts Trustee (resigned 11 August 20231 M Wllson Trustee (resigned 16 January 20241 COMPANY REGISTEREO NUMBER 02108180 CHARITY REGISTERED NUMBER 297397 REGISTERED OFFICE The Famihouse Bradwell Abbey Milton Keynes MK13 9AP COMPANY SECRETARY Dr N M James CHIEF EXECUTIVE OFFICER Dr N M James AUDITORS Harris & Co IAccountantsl Ltd. Statutory Auditof 2 Pavilion Court 67 PavilKJn Court Northampton NN4 75L
CITY DISCOVERY CENTRE IA ¢ompany limited by 8uarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Objectives and artivities Icontinuedl Facilities and Site Resources Bradwell Abbey is the site of a Medieval Benedictine Priory and still contains the remains of a variety of ancient buildings and a number of medieval fishponds. As a Scheduled Ancient Monument and a Community Related Asset the grounils of the stte are open to the public. The latter designation ieflects an understanding that the management and use of the site will be on a not-for-profrt basis and for the benef(( of the people of Milton Keynes. MKCDC is also responsible forthe oversight management of ihe SAM site, with the assistance of Milton Keynes Council. The Bradwell Abbey site is also of environmental imwrtance as a non-statutory Biological Notification Site as there has been evidence of an extant colony of Great Crested Newts, Pipistrelle IPipistrellus pipistrelluslpygmaeusl and Brown Long*ared IPlecotus auritU51 bats recently and in the past. Recent surveys indicate the evidence of at breeding and roosting bats in the farmhouse. possible bat activity in the chapel, and extra bat activity on and around the site. The extensive scnjbland, woodland and four ponds also support a number of small but important ec05yStems and a variety of bird life and are used for a range of educational and public events. In 1997, CDC was given a 25-year lease on the 12-acre site, which is owned by the Milion Keynes Council, with an option to renew for another 25 years in the future. This option has now been updated io a 99-year lease, and the draft le3se, signed by CDC and Mihon Keynes City Council in November 2022. The Bradwell Abbey site has suffered serious dilapidations over a long period and there has been urgent need for repairs, maintenante and improvements to b¥ing the site up to standard and to turn it into the heritage and visilor destination it should be. After the unsuccessful Heritage Lottery Fund Bid in 2014. MKCDC has worked in partnership with Milton Keynes Council Ithe landownerl to help them fulfil their Statutory obligations towards the Stheduled Ancient Monument site and bring all the buildings on site up to an acceptable standard of repair. The ongoing negotiations have now resulted in Milton Keynes Council continuing to completion a capital works budget of around £800,(MX) and awardinE the contract for the repair and restoration works to Cliveden and ModPlan. SAM consent was granted by Hisloric England and enabling works lo conserve and repair both the chapel and the farmhouse completed, wtth the second of the two stage conservation process also now completed and signed off. Outstanding works remain on the caltle hovel and the Gatehouse. CDC has now taken responsibility for these under the new maintenance and repairing lease contrart. These works will ensure MKCDC'S ongoing presence on the 8radwell Abbey site and its continued seryice delivery to the people of greater Milton Keynes. Most of the buildings and facilities on the Br3dwell Abbey stte are used to generate income for the Charity and provide facilities for use by educational instrlutions. the general public. Third Sector and local communttv organisations in greater Mihon Keynes. The Director. Staff and Trustees continue to work with a number of key partners. interested parties and advisor5 to optimise the utilisation of site and Its facilities. Although the continued conseNation works on site have recently hindered its fvll utili$3tion. these will be complete by March 2025, and we have employed various new strategies alongside a flexible Business Plan to boost income and improve customer numbers. MKCDC ha5 maintained a key financial aim again in the last year in a safety net resetve that could cover all our liabilities or costs for 3 minimum of 18 months. During 2023-24, CDC were Successful in maintaining income and nomial business activities, and future forecasts show recovery from pending continued maintenance works.
CITY DISCOVERY CENfRE IA company limited by guarantee) TRUSTEES, REPORT {cOrINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance a. Users of our centre The following community groups were users of the facilities at Bradwell Abbey during 2022123. While this is vastly reduced because of Covid-19, community use was still popular during less unrestricted period5. Group Type of use Group Type of use Milton Keynes Natural Meetings MK Forum Base & meetings History Society Bradwell Abbey S¢oLrts Meetings MK Envir(>nrnentsl Partnership Bradwell Abbey Friends RSP8 Wildlife Explorer5 Interaction-MK Arts&Htritage A$50ciation MK Power Juke Box Woman Cave MKHA David Lock Association Toast Masters Meetings Word in Edgewa Abrahamic Women Liisa Clark Arts MK National Trust Meetings and Workshops Meeting5 and Workshops Arts Event5lexhibitions Meetings Meetings Meetings and event space Education sessions Meetings and craft sessions MK Council Heritage MK Man Cave CLASP ECG World V15ion Meetings Meetings Meetings Meetings Meetings Meetings Meetings and events Meetings Meetings and Events Events Meetings and Training Meetings During unrestricted times some lo1 commercial companses used Bradwell Abbey for both training and other events. b. Our Sour¢es of Income MKCDC derives income from a number of actNities and seryices listed below-. Rental income and room hi income from commercial and voluntary sector accommodation at Bradwell Abbey. Income generating artivitEs that relaie to providing edutational seNices io schools, universitie5 as well as professional and communty group5. Income generaling actrvities that relate to putting on 13fge-scale events in the herilage, art and cultural sectors for the general public and people of Milton Keynes. We now have one SLA with MIOn Keynes City Council. linked to an annual £15k grant to deliver arthnie seNices additional to those already under our remit. We alw have long-term clients Lssing our foreign delegate lecture5 and tours. as well as venue hire clients. This year the greater part of our income has been through a rejuvenated business programme along with heritage-focused grants. Commercial activtties and venue letting by the City Distovery cent (Tradin81 Co. Ltd., a commercially oriented company and wholly owned by ihe Milton Keyne5 City Discovery Centre wf(h the sole purpose of generating income, wtth which to subsidise or pay for the educational and community activities of the Charitv. A consolidated financial report has been prepared that includes the City Discovery cent (Trading) Co. Ltd and specific details can be obtained by contacting l01)81227229_
CITY DISCOVERY CEPmtE {A company limited by Buarantee} TRUSTEES, REPORT ICOTrThINUED} FOR THE YEAR ENDED 31 MARCH 2024 A¢hievements and perlorniance {continuÈdl c. Tenants at 8radwèll Abbey Durin8 the year ended 31 March 2024 the Mifton Keynes City Discovery Centre held commercial sub-lease agreements with the followit)g companies= Bakehouse- Your Local Flyer Red Barn- ECG Gatehouse- ECG David Lock Building- ECG We further held è number of sulFtenant licences with charitable or not-for-profrt groups based in the Farmhouse, where CDC now has tt5 offices. They are= Become (Photography and Graphic Arts) Arts & Heritage Association Inter-action MK A number of other Charities use us as their meeting base and postal address- e.g. MK Forum. MK Natural History Society. MK National Trust. MK Public Ar15 Trust, Fred Roche Foundation. and Urban Eden. to name a few. The tenants continued ntaI in cottages 1 &2: in the financial year beginning April 012024 cottage 2 has been re- tenanted at a 51XI% rental increase following recent refurbishment works.
ctTY DISCOVERY CERE IA company limited by guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achièvements and perfomiance Icontinuedl d. Education Delivery. Activities and khievements The organisation and delivery of education31 aCtltIeS and outreach constitutes a signtficant portion of the Chèrit(s Aims and Objectives. To this end. MKCDC continues to deliver the following learning activities and sessions for schools. universities and community groups. These have now been takinE place both online under our new digital offer. and in person On more- Geogrophy (Jnd Urbon Development Settlement-various topics at various educational levels Exploring the reasons for settlement establishment. the links between settlementand plannin8 in historye.g. the Roman period and how we might do it today.. Development of infrastructure,. tallIng,. housing andlor employment in local settlements,. Comparing settlernents from local to global Contrasting Localities.. comparing the history. demographic5. etc. of the vi51torfs horne locality with modern Milton Keynes; The history of the development of Milton Keynes coveriftg ihe tonlexL the plannin& the financin& the process, etc.; Planning a sustainable city- the case of Milton Keynes within a wider woddwide perspective,. Environmental decision makin8 for sixth form students- Study tours and lectures specifically themed at the needs or interest of clients (topics range across urban plannin& transport. recreation, retailin& environment. reryding and sustainability. catchments mana8ementl- Briefin8s and workshops for planning professionals and policy makers.. Map readin8 and orienteering. History octivities Pre-history- stone. bronze and iron a8e coverin8 Boutlicca, technology development. cave painting. homestead and buildings, social conte¥t.' Romans- hands-on sessio•s intluding.. life in the Roman army. a Roman banquei, Roman 8¢)ds, Ilfe at a Roman villa. Roman household, Roman Technology and Innovation,. An810-Saxons and Vikin8S- art, literacy & poetry. runes and plate narnes, important date5 and tharacters, warriors and shield making. hornestead & pottery,. Medieval hands-on sessions indudin8= mediÈv81 ¢ooking, a Medieval pilgrima8e. life as a monk in a medieval monastery. crime & punishment, general medicine. Bradwell Abbey site history.. Tudor- hands-on session5 including-. - Tudor cooking. Tudor beliets and superstitions. Tudor household management games, huntin& mummer5 play. dance. tile of a sailor in the Royal Navy at ihis time. crime & puni5hment* general medicine. Bradwell Abbey site history." Victorièn schools and lifestyle are a new addiDon to the pro8ramme- Ancient Egyptian Activity has now been added to the programme; Archaeology and handling collection work-we have a handling tollection of finds and artefacts datin8 back to Roman times and some fossils 8osn8 back even eadier. NewTown bespoke activities for schools as well asjoint New T¢)wn events. Local history- various topics at various K5 levels.. The history of the Bradwell Abbey 51te- A comparative study of Bradwell Abbey. Bradwell Ifillage and New Bradwell.. The modern history ol Milton Keynes.. Urban Planners of the Futvre- The Good City Project. funded by the National Lottery Heritage Fund. h35 now been completed. The Milton Keynes Museum 50 ProjetL which began in 2023 and will continue into late 2024.
CITY DISCOVERY CETrURE IA Company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and pÈrform•nce lcontinuedl Speciol Educational Needs Providing work experience for young challenged adults on site. Artivr(ies have continued on slte but are mostly now taking place through our digital programme. We have begun new work with Mihon Keynes Colle8e working with disen8a8ed and excluded students. We are now offering an ongoing work experience programme wtth Stephenson Academy. We now host a craft therapy programme in the grounds on Mondays with a bcal medieval potter. Holidoy octivities Covered New Town, Angl(FSaxon. Vikin& Roman, medieval, Tudor. Halloween, Victorian, Christmas. New Town and environmental- sessions had focused craft activrty for the time period, storytelling and stories of the period, plus online site tours. Events are almost back to normal levels and physical presence. EnvironmentolActivits Various environmental and sustainable cty aspects have been built into the Geography and City Planning presentatron, lectures and tours- A number of environmental learnin8 seSsn$ and events have been undertaken with key partners on site: Plant and wildlife identification sessions by experts.. Educotionol Objectives ond5trotegies The key educational objecttves man the same and are aimed at delivering an out-of-the-classroom experiential learning Opportunity for learners, supporting teacher in their teaching, including OLFr new digital offer, which includes high quality downloadable resources and videos.. Another key objeuive is to 8et more schools, especially local schools, to make use of our service5. Due to increasingly unaffordable trèvel / bus prices we have increased our outreach into schools as many can no longer afford to come to us at Bradwell Abbey. This has been particularty Successful through the new digital offer. This method has worked this year as sch¢)ol vlts have increased and are generally over subscribed. Our key strategies. identifietl 2014-15. remain the same and are= o to be a quality delwery agent o to stay levant to the curricula o to be seen as good value for money o to make optimum use of building and other facilities on the Bradwell Abbey site. Embrace a strategic approach to the anticipated changes in the curricula and work wtth local teachers to achieve client focussed R&D and development of new materi3ts.
CITY DISCOVERY CENTRE (A company limited by guarantee) TRUSTEES. REPORT (co1NVED} FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomance Icontinued) e. Participation In MKCDCS educational and herita6e activities Schools Geography and Urban Planning- o Comprises learners iaking part in our geography based activities and includes iK¥th the primary and secondary sectors. The Urban Planning is mostly UK base(1 tertiarystudents and profes5ionavacademicvisitors from abroad although we have again this past year introduced the subject to primary schoob. History and Heritage= o Learners taking part in our hands-on-history activities. o These history components a almost exclusivety undertaken by primary school pupils. The heritage components are also aimed at 18+ adult leamers and parents attending public events. o Combined Geography and HeritagelHistory sessions.. o This area combines the history of local area wrth tts urban development overa range of different periods and how these impact on each other. We are happy to report that the student numbers taking part in our general on-site educatlon programmes and events remain stable. We are working on strategies to increase this number and have developed new sessions and updated existing ones. Professional and l&tr edu¢atlon The numbers for professionals attending and fore¥n groups remain stable. with the new exception of delegations from China still halted as a resijlt of Covid-19. We continue to work on strategies with a number of tertiary and international partners to increase this further and capitalise on this a5 part of the now expanded New Town Studies Network thal we are a part of wr¢h Milton Keynes Council. Educational delivery challenges It should be noted now that we are regularly fully booked with se$sn$. The regularly refreshed comprehensive educational brochure and programme developed and sent out to 311 the schools in the Milton Keynes borough has undergone a further websf(e refresh and is accompanied by other promotional materials including banners, digital resources. recorded videos and inclusion in various educational brochures. We also continue an intensive and proactive liai50n with schools to see why thev continue to use us, what they would like to see improve in order to continue with us, and the same with schools who have used our seNices in the past but no longer do though. We continue to work with 5choo15 and coach companies to find more cost effectlve ways for schools to engage with our servIs. MKCDC has continued to offer taster and bespoke sessions to schools in the 2023-4 period. In addition, we have gone out to schools for paid sessions. We will continue this approach. We have conlinued our approach with home schoolin& church, scout, and now youth 8roups. We have now added secondary schools and colleges that work specrfically with harder to reach students. Mk College and Stephenson's Academy or now regular collaborative partners. We have continued our extensNe Work Experience pro8iamme with Pro- Active Education. and have now begun a programme of work offers with UniFrog. The education team continues consultation wr¢h ieachers in order to accommodate and maximise any curriculum changes durin8 this period. This to ensure that any new Sessions. material and educational topics will rÈmain relevant movin8 fonmard. Now that COVFd-19 has less impact on school visits physical visits have taken precedence over our digital offer. io
crry DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOED 31 MARCH 2024 Achievements and perforniance Icoo)tinuedl We continue to diversify our services and are wothing closer wtth other heritage charitable and community groups who are engaged in delivering similar or complementary educational activities. This has resulted in joint activities with Milton Keynes Museum. The most successful marketing tool currently still appears to be word of mouth referrals from teathers and schools or teathers who have visited or attended some of our open days. The Director sits on the Board of the Milton Keynes Cultural Education Partnership IMAKEI and the Cultural Partners Artion Group (Both part of MAKE, which is part of AHA). all of which have teachers on the Board and direct link5 to school networks. This has 1Ca$ed uptake of our digital and physical offers. Archive & Reference Library Report Access otal 174 Monthly Average 2023-24 14.5 Monthly Average 2022-23 17 Enquiries lin¢. wsits) 15its Average Enquiries & Wisits Per Year 150 W19 19120 20121 23122 22123 2¥24 Method of Enouiry Enquiry Origin wVE¥ li
CITY DISCOVERY CENTRE IA company limited by 8uaranteel TRUSTEES, REPORT (CO[NUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevements and performance {continuÈdl Ac ulsltions & Accessions Our main accession was the Mike O'sullivan Collection- 35mm slides taken by the ex-MKDC employee and local councillor in a personal capacity. many of the theat, gallery and Midsummer Place being built. We acquired sundry materials for the Reference Library, includin8 a set of City Lhts listings magazine from the 19805. Collections Care Environmental monitoring still shows temperature and humidtty too high on the balcony. with unacceptable levels of fluctuation both on the balcony and in the Archivè & Reference Library. Regular pest checking has not highlighted any problems. Material acquired from Milton Keynes Arts Centre was cleaned and repackaged. Colle¢tlons Develo ment New catalogues available online- Save St. Peterfs Church ISSPI Peter Barnes Collection IBARI Housing and Transport Users. Groups IHTUI David Lock Collection (LOCI Save the Park Action Group ISTPI. Cataloguing has been completed for the Theat & Gallery Collection ITHGI by a volunteer, this is being checked before adding to the online catalogue. Cataloguing has been started on the Mike O'sullivan Collection. Listing has been completed for ihe Philip Ashbourn Collection and cataloguing has started. Listing has been tompleted for the Arts cent addiiion to the Artworks-mk Collection IATWI. Appraisal continues on The Parks Trust Collection. Over 6,81)O images are now available via the Image Archive online catalogue. Work continues on the cataloguing and cla55ificatty)n of the Reference Library. A major project to move the Kitchener Collection from eHNe to our archive Catalogue was undertaken after our main organisational website was moved from Wordpress. This was completed and the Collection now has its own page and a map search facility. Each individual image page also has o map showing where the pirture was taken. ital Preservation We are continuin8 ourforays into digital preser¥aiion, starting by working towards Level l of the National Digital Stewardship Alliance INDSAI Levels of Digital Preservation. Digital preseNation equipment has been purchased. Draft workflows for acquisition and selectionltransfer have been written. Liaison 15 taking place with IT support to provide for storage and back up of digital archive material. Outreach The Archivist has taken over regular postingon our social media- Facebook, Twitter and Instagram. (most events prornotion 15 done by Become Studio). This has increased engagement on both Facebook and Instagram, with both accounts much more artive. The new #Mysterymonday initiatNe has been very successful - we post an image from the Image Archive and ask followers to guess where Ét is. An online exhibition about the history of recycling in MI0 Keynes wa5 produced to coincide with the introduction of wheelie bins to the area. The Archivist also gave a talk on the subject to the Friends group. 12
CITY DISCOVERY CENTRE IA company limited by 8uaranteel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomian¢e (continued) Outreach continued We hosted a visit from the Milton Keyne5 Development Partnership and architects from the Campbell Park North project. They enjoyed a Short introduction to the centre. the archwe and reference library, and a display of drawings from the Mahaddie Collection. It sparked interesting discussion about the original plans for Milton Keynes. Pro'ect Work The past year was tlominated by the Good Cty- what makes MIOn Keynes? project. Fundrng from the National Lottery Heritage Fund allowed us to create a webstte to rnake available our digitised copy of The Plan for Milton Keynes. We also commissioned an artist to interpret the six original goals, whith illustrate the websrte. The focus of the project was running supper club sessions with local community groups to animate and interpret the oriEinal plan. We ran ten sessions. with an average of eight attendees at each. Feedback was very posrtive with corrTrments such as '8reat environment. 8at atmosphere-, future" 'It was Bat - blend of history and looking to the -some very infomiatNe an(1 positive conversations" and"It has renewed my interest in the evolution of MK and I shall explore more". Five drop-in workshop sessions were also held to inform the commission of a local artist to represent the outcomes of the discussions in an artwork. New city enactment sessions are also being held at local libraries to involve a younger autlience. Still to tome are the final exhibition showcasing the project, its outcomes and achievements, and a newspaper summarising the supper club sessions. Volunteer Mana ement Volunteers have been working on a variety of projects. including ¢atal¢¥uing the reference library material 14,082 catalogue records so farl, appraising old education packs, improving the Image Archive catalogue de5criplions. uploading images tothe online catalogue16,81J) image so farl and indexing Messenger newsletters. Volunteers contributed an average of 26 hours per month in 2023. Flnancial rewew Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existenceforthe foreseeable future. Forthis reason. they continue to adopt the going concern basis in preparing the financial statements. Further detai15 re8ardin8 the adoption of the80in8 toncern b&sis can be found in the accounting policies. b. Reserves policy The Trustees aim to maSntain free reserves in unrestricted funds at a level which eouate5 to approximately 18 months of unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to maintain salaries and associated costs during this period and to ensure that support and governance costs are covered. Deficit Towards the end of each calendar year detailed bud8ets for the followin8 year are prepared and submitted to the Trustees for approval. In the year we generdted a consolidated deficit of £20.297. We are happy to report that ihe Charity has maintained its kK)sitive position into 2023-24 period and report that the safety net reserve remains sufficient to protect the organisation for at least a full financial year of operation or cover its liabilities. should this ever be required in the event whère further income is lost or ¢losure required, such as may be the case a8ain if the Covid-19 Cris continues at similar levels, or is somethin8 else unfoieseen occurs. 13
crry DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES. REPORT (co1NuE0> FOR THE YEAR ENDED 31 MARCH 2024 Financlal review Icontinuedl We have reviewed our business plan with help from MKC, and this 15 operatM)nal in Ilne with new governance procedures and staff targets. The overarching strategy to find a sustainable business Model that makes sense of our dual function and allows us to develop into a national and internationally significant visitor attrartion, as well as become a national leader in educational and community activities 15 well underway and remains a living, flexible plan. Work is underway on a Large Heritage grant leading up to our site Anniversary in 2024. This will be to populate the downstairs ot the Farmhouse with statè of the art heritage attractions. The first stage of this has been approved by the National Lottery Herttage Fund and we are now applyrng in full. Our aim is to be the first choice foreveryone in Milton Keynes and further afield who wishes to avail themsefves of such seNices. In addilion, we wtsh to embed ourselves fimily wrthin thè community of Milton Keynes as we have the potential to offer much more than we do CUrntty, on all Stages. Totol number benefitting from aty Discovery Centr¥s activities Activities Education children lunder181 Education Tertiary and 18+ Education- Professional and Forergn Communrty related meeting, social and recreational Heritage visits or sessions (adults, children. excluding 5choo151 Arts & Cultural Environmental Health & Well-being Public Events Volunteering Green Space use and general public serviceslenquirie5 Commercial Total beneficiaries event5 or sessions Beneficiaries events ioc 700 65 800 Last year 400 50 500 6500 9} 8000 ioooo iooo 25000 100 66450 150 5(N) 250(K) 2CtI 76165 Bradwell Abbey as a community venue for weddFn8s, partie5 and otherfunctions is successfully moving from an economy option that includes a medium to htgh quality option. We continue to charge reasonable and competitive prices to ensure ihat we create access and continLte to provide the Servi state(l in our charitable remit. 14
CITY DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES, REPORT {COtNUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Itontinuedl Volunteers and sUPPOrters The Trustees and Director are extremety grateful for the time and energy of all the volunteers who assist MKCDC in the Archive and New Towns Reference Library. Education department, with and during public events, those helping with admin tasks and those who help maintain the sf(e ttself. The Chairman and Dirertor also wish to thank all those Board members. who are volunteers too. for serving with enthusiasm and commitment. A bi8 thank you to all our supporters. customers. clients, friends. visitor5 and partners for helping to make our work so successfvl. The Friends Group goes from strength to strength, and is alrea(ty helping markedty with fvndraising and events. d. Re5enes policy The Trustees aim to maintain fe See5 in unrestricted funds at a level which equates to approximately 18 months of unrestricted charitable expenditure. The Tnjstees consider that this level will provide sufficient funds to maintain salaries and associated costs during this period and to ensure that support and govemance costs are covered. Risk mana8ement The principal risks faced by the Charty are a downturn in VenUe due to any retessions, or current rises affecting operations andlor lease renewal. The Trustees look to alleviate these risks by trialling new funding sthemes, staff structuring, volunteer help and increasing grant programme reception. 5tnKture, Govemance and Management During the year, the governance of MKCDC was overseen by the Board of Trustees comprisin8- Protessor David Lock CBE INonxecutNe President) Steve Crowther (Chairl Paul Cox (Chairl Rex Excon (Mitton Keynes Countil repsentatIve) Jan Lloyd Bob Adams Dr Noel James Istaff - Company Secretary and Dirertor/CEOI P Martin M Potts Iresigned 11 August 20231 M Wilson Iresigned 16 January 2024} M Petchey lappotnted 3 January 20241 15
CITY DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Structure, Governance and Management {continuedl The Board of Trustees meets at least every quarter at Bradwell Abbey, or more often rf required. Members of the public and observers are ava¥S welcome at these meetings and can apply to the Company Secretary to attend. MKCDC volunteers and members of all the partner organisations we work with are encouraged to stand for elertion to the Board of Trustees at the AGM. The Board of MKCDC remain acutely aware that the governance of the organisation is linked to the skills of its Trustees. To this end the Chair and Director regularly review a recruitment strategy for Trustees and volunteers based on an identified skills matrix. The recruitment of new board members and volunteers remains an active and continuous process during a period where volunteering seems to be on the wane. VolunteerinE for the Charity remains stable this year, with the Friends group and Gardening Club continuing. CDC has achieved Investing in Volunteerirb8 Statu5, and Investors in People status. The Board of Trustee5 is responsible for setting the broad strategic direction of the organisation and the appointment of a Director lo deliver this strategy and the related agreed aims and objectNes. The Board has a fiduciary duty and financial oversight. as well as ensuring that the organisation remains compliant with all its legal and other requirements. The Dirertor is responsible for the overall and d8y-t¢>day management of the organisation and reports on this to the Trustees on a regular basis at Board meetings. As CEO the Director deab wilh all management. Staff, delivery, contractual and business issues with the support of the Busine55 Development Manager, who a150 acts as Deputy in the absence of the Director. and other siaff. b. MKDC Volunteers, Partners and Other Supporters The Board of Trustees are volunteer5 and continue to be involved activety in numerous meetings, planning sessions, negotiations Wtth Mihon Keynes Council, educalional and archttectural exhibition5, service reviews, developing and helping to deliver services and put on a variety of public events. The Trustees and Director are exlremely grateful for the work all the MKCDC Volunteers and other unpaid or in- kind 5UPPOrters regularly do to contribute to the work of MKCOC and the Bradwell Abbey site as a public facilitv and herttage destination. As mentioned. CDC are undergoing Investment in Volunteers assessment. as a way to improve and continue their work with volunteers, and to ensure proper practises and appreciation are in place. To this end various meetings and online focus groups with the wide varty of CDC volunteers are taking place in order to improve processes. The importance of volunteer and supporter help during events and delivery sessions cannot be under estimated and we benefit greatly from the application of their own skilb and knowledge akjngside the MKCDC staff team. 16
CITY DISCOVERY CENTRE IA company limited by 8uaranteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structure, Governance and Mana8ement l¢ontiTrued) Event EDUCATION & EVENTS Site touis Arts, music & cultural events Heritage O en Days Research & writing Re-enactors & helpers ARCHIVE & UBRARY Archive, digitisation, website & social media 51te and Dry DIY Parks Trust Explorer Scouts / Young peoplè Green Gym Overseas students volunteer days Board Board meetings Strategic & planning meetin8S PR & Exhlbttlons Admln Su port Other (various in kind e.g. costume makin& fund raisin& meetin I rox. Hrs No.of Vols Hours 12 96 400 io 12 io 15 240 540 20 320 15 4800 64 288 576 18 12 io io 500 12 30 20 48 240 800 io TOTAL 8180 The MKCDC Volunteers help with the organisation and delivery of many educaiional, heritage and public events at 8radwell Abbey. The Guides help to guide well over 5(K) visitors across the Bradwell Abbey site on the Open Sundays and durin8 the new Bradwell Abbey Friends Pop Up Café days. and also assist during a varieiy of events across each year such a5 Archaeology Week, Medieval Open Day. Angels at the Abbey, and also other events put on by MKCDC and also outside organisations suth as the'new Food Festival, and Barrel Bikers bike festival. The Trustees wish to thank a number of partners, intlividuals. supportin8 organi$3tions and companies who supported the work ol the MKCDC contributing to the above, and they are.. Bradwell Abbey Friends, the CDC library volunteers, the Parks Trust volunteers (VarU5 projects), Green Gym, the Educatlon and Events volunteers, the office and gaiden volunteers, and many others not mentioned here. Finally, it shotlkl also be noted that the Trustees, time is completety voluntary. Thus, 8180 hours of volunteer and unpaidlin-kind time was contributed to the work of the Charity in 2022-3. If Ihis is ConSealIVelY valued at the lowest herttage sector volunteer rate of £50 a (lay, it represent5 an amount of £51,125. 17
CITY DISCOVERY CENTrE IA company limited by 8uaranteel TRUSTEES, REPORT {CONfiNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structure. G0veM•n and Management (continued) ¢. Our staff During the year ended 31 March 2024 our staff we. Noel James (Director & CEO) Lynne Dawson IBusiness Dèvelopment Manager and Deputy to Directorl Catherine Mclntyre (Archivrstl Richard Gregory IFunctions Manager. Contracted Caner, Operational and Admin Support rolesl City Discovery Centre is also grateful for the commitment and professionalism of the long list of re-enactors and contractors who assi%t in the delivery of our educational and heritage 3ctNities. Salaries for all staff a benchmarked against market Statistics and surveys. 18
CITY DISCOVERY CENTRE IA company limited by 8uaranteel TRUSTEES, REPORT (co1NUEDl FOR THE YEAR ENDEO 31 MARCH 2024 Strategic devdopment and significant con¢erns/plans for future peri¢)ds Brodwell Abbey restoration ond improvementprojert As far as the Milton Keynes Ctty Council intervention in the restoration of the site. this 15 now complete, finishing years of protracted ne8Otiations and works. This allows CDC a greater freedom to develop activities on site that will maximise the $tOred historic facilities and plans are now underway to realise this. This is crucial as all money generated is directty used to fund and sub5idise the work of the Chartty. The 8radwell Abbey site and its facilities remain the greatest income generating sources, d1CtlY and indirectly, for the Charity. and the most suitable venue for its education. heritage, cultural and community 5eTvices. Continuin8 to improve an(1 upgrade the site to make rt a visitor and herita8e destination be*itting one of the important Scheduled Ancient Monument sites in Milton Keynes is an important aspiration for all key stakeholders. It 15 featured as such in the Councifs Heritage and Cumural Strategy 2014-23 and ts a major part of the new Business Plan moving forward. On site concerns Now that conservation works are complete, fundin8 is underway to allow the refit of the historical attrartions to museum standard in order to functKTrn as an exciting new visitor attraction. Initial enabling works and feasibility studies concerning th have already been undenaken. Funding applications are underway. EconomAes olscale ondftsture joint working MKCDC remains an active member and tontributor to the Herita8e MK and various other bodies in Milton Keynes thai represent herr(age. arts & cultu. education. environment and community concerns or interests e.g. MKHA. AHAMK. MAKE. MK Chamber. MK Forum. We continue to work with many partners and organisations that are inVoed in other Herttage Funded or p055ible future HerTtage Funded projects to show joint working that avoids duplication and competition but will allow for joint working or delivery related to economies of scale. We are also working with the Central Library Archives Project, which is ongoin& and continue as a key partner in several archive and New Town projerts. We remain fully SUPPOnive of a joint herltage visitor offer which will tell the story of the New Town of Milton Keynes across a variety of eras, areas and sttes. MKCDC already does this to a large extent as part of our current educational and professional delivery.. and tt remains uitical that MKCDC will be able to fulfil its original key aims and objectives withTrn the Milton Keynes heritage. education and community sector5. MKCDC remains fully supportive of the MK Museum in their successful and significant expansion and continues to undertake close work with them to provide information. displays and exhibitions In their new gallery related to the development of Milton Keynes as a New Town. The founding oblectNes of MKCDC were deliberatety laid down in broad temis to allow the delivery of a wide range of Services and educational artivities. ertIMe priorities and opportunities change and the organisational strategy will be to take advantage of new opportuntties, as well as new academic and service ventures as they present themselves. The Trustees and Director believe that a 5UStainable organisation is one that manages to accommodate ch3nEe while maintainin8 core objectwes and run itself rn0 on business principles rather than dependencry approach. 19
CITY DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Strate81¢ development and siKnificant ¢oncems/pls fo¥ future periods {continuedl Optimol Delivery The Trustees, Director and Staff team remain committed to optimal delivery of all the services we delNer at Bradwell Abbey and we review regularly the ways we deliver our services to deliver more effective operations. In particular, we are keen to ensure that the priorities reflected in our education programmes are continuing to support the needs of schools, especially in the light of continual changes in national curriajla and also the abillty of schools to travel for experiential learning off site. The Trustees and Director also continue to explore further opportunities for cOlboration and joint ventures with other Milton Keynes voluntary and community groups in the delivery of our charitable and educational mission, as well a5 some instrtutions at national and international level. 20
crry DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees, responsibilities The Trustees (who are also the directors of the Company for the purposes ol company lawl are responsible for preparing the Trusiees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 Practice). Company law requires the Twstees to prepare financK81 statements for each financial year. Under company law, the Trustees must not approve the financial statements Ltnless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources. including their income and expenditure. for that period. In preparing these financial statements, the Trustees are required to: selett suitable accounting policies and then apply them consistentlv- observe the methods and principles of the Charities SORP IFRS 1021- make judgments and accounting estimates that are reasonable and prudent: state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures dlsclosed and explained in the financial statements- prepare the financial statements on the 80in8 concern basi5 unless it is inappropriate to pSUMe that the Group will continue in business. The Trustees are sponSible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2CM)6. They are also SponSible for safeguaiding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularrties. Disdosure of information to auditors Each of the persons who are Trustees at the time when this Trustees, report is approved ha5 confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charitable group's uditors are unawa, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. Auditors The auditors, Harr & Co (Accountants) Ltd, have indicated their willingness to continue in office. The designated Trustee5 will propose 3 motion reappointing the auditors at a meeting of the Tnjstees. Approved by order of the members of the board of Trustees and signed on their behalf by- SPCro Trustee Date.. 25 July 2024 21
CITY DISCOVERY CEIURE IA company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO ThE MEMBERS OF crry OISCOVERY CENTRE Opinion We have audited the financial statements of City Discovery Centre Ithe 'parent charitable company'l and its subsidiaries Ithe 'group'l for the year ended 31 March 2024 wh4ch comprise the Consolidated statement of financial actNrties. the Consolidated balance sheet. the Company balance sheet and the related notes. including a summary of significanl accountin8 policies. The financial rewjrting framework that has been applied tn their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (Untted Kingdom Generally Accepted Accountin8 Practice). In our opinion the financial statements= give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2024 and of the group's intoming resources and application of resources. including its income and expenditure for the year then ended,. have been property prepared in accordance with United Kingdom General Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance wtth International Standards on AudFting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditors, responsibilities for the audit of the financlal statements Section of our report. We are independent of the group and parent charitable company in occordonce wtth the ethical requirements that are levant to our audit of the financial statements in the United Kin8dom, induding the Financial Reportin8 Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to goin8 con¢em In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of ccounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individualty or collectively. may casl significant doubt on the group and parent charitable compèny's ability to continue as a going Concern for a period of at least tWee months from when the financial statements are authortsed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 22
CITY DISCOVERY CENTRE IA company limited by guarantee) INDEPÉNDENT AUDITORS, REPORTTO THE MEMBERS OF CITY DISCOVERY CENTRE {CONTINUED) Other information The Trustees are responsible for the other information contained within the Annual rewrt. The other information comprises the information included in the Annual report other ihan the financial statements and our auditors, report thereon. Ouropinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, orotheNise appears to be materially misstated. If we identify such materlal inconsistencies or apparent material misstatements, we are required to detemjine whether this gives rise to a material misstatement in the financial statements theMSee$. If. based on the work we have performed, we conclude that there is a material misstatement of this other infom)ation. we are required to report that fact. We have nothing to report in this regard. Matters on which we ire required to Teport by exception We have nothin8 to pOrt in respect of the folbwing matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the Information given in the Tnjstees, port is inconsistent in any material $pett with the financial statements- or the parent chariiable company has not kept sufficient accounting records,. or the parent charitable company financial statements are not in agreement Wtth the accounting records and returns,. or we have not received all the inforniation and explanations we require for our audit. Responsibilities of trustees As explained more ful in the trustees, responsibilities statement set out on Page 21. the trustees (who are 31$0 the direciors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they grve a true and faif view. and for such internal control a5 the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for asses5in8 the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company orto cease operations. or hève r¢0 realistic ajternative but to do $0. 23
crry DISCOVERY CENTRE IA company limited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF CITY DISCOVERY CENTRE AND ITS SUBSIDIARY ICONTINUEDI Auditors. pOnsibl11t1es for the audit of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud Of error. and to issue an auditors, report that includes our opinion. Reasonable assurance is a high level of assurance. but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material missiatement when it exists. Misstatements can arise from fraud or error and are considered material if. individualfy or in the aggregète. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Iden and assessin tential risks related to irre ularities In identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliante with law5 and regulations. we considered the folJowin8: - The nature of the charities activities and sector, control environment and financial performan. Enquiring of management and the tnjstees, including obtaining and revwing supwrting documentation, concerning the charitable company's policres and procedures relating to= Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. Discussing among the engagement team and invofving relevant internal specialists. including tax. and charity specialists (where relevant) regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.. and Obtaining an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statement5, such as provisions of the UK Companies Act. charity legislation and tax legislatn or that had a fundamental effect on the operations of the charitable company; including General Data Protection requirements, anti-bribery and Corruption policv. 24
CITY DISCOVERY CENTRE IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CITY DISCOVERY CENTRE AND ITS SUBSIDIARY ICONTINUEDI Audit res onse to risk5 ideniffied As a result of performing the above, we identified various provisions of the Charities Act and the Chartty Commission guidance as a key audit matter related to non-compliance WTih laws and regulations that might lead to material misstatements. In common with all audits under ISAS IUKI, we are also required to perfomi specific procedures to respond to the risk of management override. In addition to the above, our procedures to reswnd to risks identified include the following: Review of the financial statement disclosures and testing to support documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements,. Enquiring of management, the trustees and in-house and external legal counsel (where relevant) concernin8 actual and potential lilatiOn and claim5,' Performing analytical procedures to identify any unusual or unexpected lationShipS that may indicate risks of material misstatement due to fraud,. and Rèading minutes of meetings of those charged with governance, reviewin8 intemal reports where levant and correspondence. Reviewing compliance with relevant charity legislation. In addressing the risk of fraud ihrou8h management override of controls. testrng the appropriateness of journal entries and other adjustments- assessing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the chariiies rationale for any significant transactions that are unusual or outsi(le the normal course of business. We also communicated relevant identified laws and regtslations and potential fraud risks to all enga8ementteam members and remained alert to an indications of fraud or non-complian with laws and regulations throughout the audit. Because of the inherent limitations of an audit. there is a risk that we will not detert all irregularities, including those leading to a material missiatement in the financial statements or non-compliante with regulation. This risk increases the more that tompliance with 3 law or regulation is removed frorn the events and transattions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is a150 greater regarding irregularities otcurring due to fraud rather than error. as fraud inVoe5 intentional concealment, forgery. collusion, omission or misrepresentation. 25
CITY DISCOVERY CENTRE (A company limited by guarantee) INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF CITY DISCOVERY CENTRE AND rrs SUBSIDIARY ICONTINUED) As part of an audit in accordance with ISAS IUKI. we exercise professional judgment and maintain professional scepticism throughout the audit. We also= Identify and a55ess the risks of material misstatement of the 8roup's or the parent charitable company's financial statemenis, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resuliing from fraud is higher than for one SuItIng from error, as fraud may involve collusion, forgery, intentional omissrons, misfepresentations, or the override of internal control. Obtain èn understanding of internal control relevant to the audit in order to design audit procèdure5 that are appropriate in the tircum5tances. but not for the purw)se of expressing an opinion on the effectiveness of the group's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or parent charitable company's abiltty to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor'5 report to the related disclosUS in the financial statements or, rfsuch di5c105ures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group or parent charilable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disc105ure5, and whether the financi315tatements represent the underlying transactions and events in 8 manner that achieves fair presentation li.e. gives a true and fair view). Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the directlon, supervision and performance of the group audit. We remain solèly resw)nsible for our audit opinion. We communicate with those charged with governance re8ardiw among other matters, the planned scope and timing of the audit and siqnificant audit findings. including any significant deficienc5 in internal control that we identify dLsring our audit. 26
CITY DISCOVERY CENTRE IA company limited by guarantee) INDEPENDEMf AUDITORS, REPORT TO THE MEMBERS OF crry DISCOVERY CENTRE AND ITS SUBSIDIARY ICONTINUEDI Use of our report This report is made solety to the charitable company's trustees, as a body. in accordance with Part 4 of the Charitie5 (Accounts and Reports) Regulations 2LK)8. Our audit work has been undertaken $0 that we might state to the charitable company's members those matters we are qUired to state to them ir¢ an auditors, report and for no other purpose. To the fullest eytent permttted by law. we do not accept or assume responsibility to anyone other than the charitable company and the eharitable companws members, as a body, for our audit work, for this report, or for the opinions we have fonned. Sarah Buswell FCA (Senior Statutory Audr(orl for and on behalf of Harris & Co IAccountantsl Ltd. Statutory Audttor 2 Pavilion Court 6(M) Pavilion Drive Northampton Business Park Northampton NN4 7SL Date.. 25 Juw 2024 Harris & Co IAccountantsl Ltd are eligible to act as auditors in terms of Settn 1212 of the Companies Art 26. 27
crry DISCOVERY CENTrE {A Company limited by 8uaranteel CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Vnrestrirted funds 2024 Restrirted funds Total funds Total funds 2024 2024 2023 Note Income from: Donations and legacies Charitable activities Other trading activilies Invèstments Total Income 16.3 23.9S7 221,392 95.866 357.515 83,$03 99.803 23,957 221,392 95.866 441,018 97,858 17,646 182.643 100,502 398,649 83,503 Expenditure on". Raising funds Charitable activities Total expenditure EA),668 41K),647 461,315 49,851 316.876 366.727 352,035 412,703 48.612 48.612 Net income/lexpÈnditure) {55,1881 34,891 120,2971 31,922 Transfer between funds Net movement in lurKIs 155.1881 34.891 120,2971 31,922 Reconciliation of funds: Tolal funds brought forward Net movement in funds 213,244 155.1881 67.701 34,891 280,945 120,2971 249,023 31.922 Total funds Carried lorward 158.056 102.592 260,648 280,945 The Con501idated statement of financial actNities indudes all gains and losse5 recognised in the year. The notes on page5 33 to 45 form part of these financial statement5. 28
CITY DISCOVERY CENTRE IA company limited by guarantee) REGISTERED NUMBER: 02108180 CONSOLIDATED BALANCE SHE AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets li 25,948 25,948 30.893 30,893 Current assets Stocks Debtors Cash at bank and in hand 13 14 4.515 30.499 267,364 302,378 3.311 30.666 283,214 317.191 Creditors.. amounts falling due within one year 15 167.6781 167.1391 Net current assets 234,700 250,052 Total assets less current liabilities 260,648 280,945 Net assets excluding pension asset 260.648 280,945 Total net assets 260,648 280.945 Charlty funds Restricted funds Unrestricted funds 16 16 102.592 158,056 67,701 213,244 Total funds 2fA).648 280,945 29
CITY DISCOVERY CENTRE IA company limited by Buarantee) REGISTERED NUMBER: 02108180 CONSOUDATED BALANCE SHEEf ICONTINUEDI AS AT 31 MARCH 2024 The Company was entiiled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit forthe year in question in attordance with section 476 ofthe Companies Art 2006. However, an audit is required in accordance with section 152 of the Charities Act 2011. The Trustees atknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and pparatiOn of financial Statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies re8ime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: SPCro (Trustee) Date: 25 July 2024 er The notes on page5 33 to 45 form part of these financM?I statements. 30
CITY DISCOVERY CENTRE IA company limited by guarantee) REGISTERED NUMBER: 02108180 COMPANY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments li 12 23,244 iij) 23,344 30.298 loo 30,398 Current assets Stocks Debtors Cash at bank and in hand 14 159.162 82.782 241.944 129,028 129.481 258,509 Credttors: amounts falling due within one year 15 119.0441 122,3651 Net current assets 222. 236,144 Total a$5ets less Current liabilities 246.244 266,542 Total net assets 246.244 266,542 Charity funds Restricted funds Unrestricted funds 16 16 102.592 143,652 67,701 198.841 Total funds 246,244 266.542 31
crry DISCOVERY CENTRE IA ¢ompany limited by guarantee) REGISTERED NUMBER.. 02108180 COMPANY BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2024 The Company's net movement in funds for the year was £120,298) deficit12023 .. £31,922 surplusl. The Company was entitled to exemption from audit under section 477 of the Companies Act 2(K)6. Thè members have not reguireLI the entity to obtaÈn an audit for the year in question in accor(lance with section 476 of the Companies Act 2(NJ6. However, an audit is required in accordance wrth sectM)n 152 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Art with respect to accounting recoids and preparation of financial statements. The financial statements have been prepared in accordance wrth the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S P Crowther (Trusteel Dète- 25 Juty 2024 The notes on pages 33 to 45 form part of these financial statements. 32
CITY DISCOVERY CENTRE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMEMfs FOR THE YEAR ENDED 31 MARCH 2024 l. General information The charity is a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Farmhouse, Bradwell Abbey. Alston Drive. Milton Keynes, MK13 9AP. 2. Accountin8 policies 2.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financtal Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 leffectwe l January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 21)J6. City Discovery Centre meets the definition of a public benefrt enttty under FRS 102. Assets and liabilities are initially recogni5ed at historical cost or transaction value unless otherwise stated in the relevant accounting policv. The Consolidated statement of financial actNities ISOFAI and Consolidated balance sheet con501idate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. 2.2 Going concern The trustees have at the time of approving these finantial statements, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they contlnue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Income All income is recognised once the Charitable Company has entitlèment to the income, it is probable that the income will be receNed. and the amount of income receivable can be measured reliably. Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where intome is received in advonce of entitlement of receipt, its recognition is deferred and included in credrf¢or5 as deferred income. Where entitlement occurs before income 15 received, the income is atcrued. Income tax recoverable in relaiion to investment income is recognised at the time the investment income Is receivable. 33
CITY DISCOVERY CENTRE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3. A¢¢ountin8 polities Icontinuedl 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obli8ation to transfer economic benefit to a third party. tt 15 probable that a transfer of etonomic benefit5 will be required in settlement and the amount of the obligation can be measured reliabty. Expenditu 15 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertakin8 each activity. Direct costs attributable to a single aetivty are allotated directty to that actNtty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are pportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's Use. Expenditure on raising fund5 include5 all expenditure incurred by the Group to raise fvnds for its charitable purposes and includes costs of all fundraising activities events and non<haritable trading. Expenditure on charriable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support cost5. All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statemet)t of financial activities over the expected useful INe5 of the assets concerned. Other grants are credited to the Consolidated statement of financial activittes as the related expenditure is incurred. 2.6 Interest receivable Interest on funds held on deposit is Snclude(I when receivable and the amount can be measured reliably by the Group,. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capr(alised and recognised when fviure economit benefits are probable and the cost or value of the assel can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangrble fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual valye over their estimated useful lives. Depretiation is provided on the following basis: Fixtures. fittings. and office equipment - 2¢)% strarght line Computer and other equipment 33% straight line 34
CITY DISCOVERY CENTRE {A company limited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 2. Accounting policies lconlinuedl 2.8 Investments Fixed asset investments are a form of financlal instrument and are initkilly COgnISed at their transaction cost and subsequently measured at fairvalue at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impaim)ent. Investment gains and losses. whether realised or unrealised. are combined and presented as'Gains/lLosseslon investments, in ihe Consolidated statement of financial activf(ies. Investments in subsidiaries are valued at cost less provision for impaifment. 2.9 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.10 Debtars Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.11 Cash at bank and in hand Cash at bank and in hand includes cash and 5hort-terni highty liquid investments with a short maturlty of three months or less frorn the date of acquisttion or opening of the deposf( or similar account. 2.12 Llabllltles and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of 3 past eveni, it is probable that a transfer of economlc benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are tognISed at the amount that the Company anticipates it will pay to settle the debt or the amount tt has received as advanced payments for the goods or seNices it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effecl of the time value of money is material, the provision t5 based on the present value of those amounts. discounted at the pre-tax Iliscount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost. 2.13 Flnancial instruments The Group only has financial assets and financial liabilriies of a kind that qualify as basFcfinancial instruments. Basic financial instruments are initialty recognised at transartion value and subsequently measured at their settlement value with the exception of bank loans which are subsequerbtly measured at amortised cost using the effective interest method. 35
CITY DISCOVERY CENTRE IA company limited by guaraftteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2. Accounting policies l<ontinued) 2.14 Fund accountln8 General funds a unrestrirted funds which a available for use at the discretion of the Trustees in furtherance of the general objectThies of the Group and whith have not been designated for other Purposes. Restried funds are funds which are to be used in accordance with spectfic restrittions imposed by donors or which have been raiseij by the Group for particular purposes. The costs of raising and administering such funds are charged against the specifjc fund. The airn and use of each restricted fund is set out in the notes to the financial statements. Inve51ment incorne. gains and losses are allocated to the appropriate fund. 3. In¢ome from donatlons and legacies UNestricted funds 2024 Restrirted funds 2024 Totsl funds 2024 Donations Grants Government grants 1,300 15.(KM) 1.300 98,503 83,503 16.3 83,503 99,803 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Donations Grants Government grants 2.155 2,825 2.155 95.703 92.878 4,980 92,878 97,858 36
CITY DISCOVERY CENTRE IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4. Income from charitable artlvlties Unrestricted funds 2024 Total funds 2024 SeNice and educatlon provision 23,957 23,957 23,957 23,957 Unrestrirted fvnds 2023 Total funds 2023 Service and education provision 17.646 17.646 17.646 17.646 5. Investment in¢¢me Unrestrirted funds 2024 Total fund5 2024 Rental income Bank interest receivable 95.866 95.866 95,866 95,866 Unrestrlcted funds 2023 Totsl fvnds 2023 Rental income Bank interest receivable ILK).351 151 IIJ).502 ILK).351 151 100.502 37
CITY DISCOVERY CENTRE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6. Analysis of empenditure on Charitable •rtivities Summary by fvnd type Unrestrirted fvnds 2024 Restricted funds 2024 Total funds 2024 Charitable activities 352,035 48.612 400,647 Unrestricted fund5 2023 Restricted funds 2023 Total funds 2023 Charitable activities 289,699 27,177 316,876 7. Analysis ol èxpenditure by artivities A¢tiv*ties undertaken dirertly 2024 Support Total funds 2024 2024 Charitable actwities 378.410 22,237 400,647 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Charitable attivities 289.699 27.177 316,876 38
CITY DISCOVERY CENTRE IA Company limited by 8uarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7. Analysls of empenditure by arti¥ities {continuedl Analysi5 of dirert costs Charitable art+¥ities 2024 Total fvnds 2024 Depreciation Education expenditure Fundraising and publicity Grants Premises and office costs 13.380 23,109 5,859 55,505 280,557 378,410 13.380 23,109 5,859 55,505 280,557 378.410 Charitable artivities 2023 Total funds 2023 Depreciation Education expenditure Fundraising and publicity Grants Premises and office costs 13.907 14,833 2,21Y) 12.325 256,644 299.909 13,907 14,833 2.200 12.325 256,644 299,909 8. Auditors, remunerati<>n 2024 2023 Fees payable to the Compan5 aijditor for the audit of the Company's and the subsidiaries annual accounts 5.780 5.510 39
CITY DISCOVERY CENTRE IA company limited by 8uaiantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. Staff costs Group 2024 Group 2023 Wa8es and salaries I.150 190,150 172.657 172,657 The average number of persons employed by the Group and Company during the year wos as follows.. Group 2024 No. Group 2023 No. Company 2024 No. Company 2023 No. Administration staff No employee received remuneration amounting to more than £60,OLKI in either year. The key management personnel of the tharity comprise the Chief ExecutNe and Business Administrator. The total employee benefits of the key management personnel of the charity We £96,06212023: £96,072). 10. Tru5tees' remuneration and expenses During the year. no TrLtstees received any remuneration or other benefrts12023- £NIL}. Dvring the year ended 31 March 2024, no Twstee expenses he been incurred12023- £NILI.
CITY DISCOVERY CETrRE (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tan8ible fixed assets Group Equipment, fixtures and ffttin8S T¢t•l Cost or valuation At l April 2023 Additions Disposals At 31 March 2024 105,764 8,435 105,764 8.435 114,199 114,199 Depreciation At l April 2023 Charge for year On disposals At 31 March 2024 74.871 13,380 74.871 13,380 88.251 88.251 Net bk value At 31 March 2024 25,948 25,948 At 31 March 2023 30,893 30,893 Company Equipment. fixtures and fittings Total Cost or valuatlon At l April 2023 Additions Disposals At 31 March 2024 93,270 5.055 93.270 5,055 98,325 98,325 Depreciation At l April 2023 Charge for year On disposals At 31 March 2024 62,972 12.109 62,972 10,576 75,081 73,548 Nèt book value At 31 March 2024 23.244 24.777 At 31 March 2023 30,298 30,298 41
CITY DISCOVERY CENTRE (A company limited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Fixed asset investments Company Investments in subsidiary companies Cost or valuation Al l April 2023 At 31 March 2024 11)0 IC4) Net Ix)ok value At 31 March 2024 IC¥) At 31 March 2023 100 Prlncipal subsidiaries The followin8 was a subsidiary undertaking of the Company: Name Companv aass of shares Holding Included in consolidatlon Clty Discovery Centre 03431035 (Trading) Co. Limited Ordinary ILK)% Yes The financial resums of the subsidiary for the year were: Name Profit/(Lossl/ Nèt assets Surplus/ldefi¢itl For the year City Discovery Centre (Tradin81 Co. Limited 14.503 42
CITY DISCOVERY CENTRE IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. St¢xks Group 2024 Group 2023 Company 2024 Company 2023 Finished goods and goods for resale 4.515 3.311 14. Debtors Group 2024 Group 2023 Company 2024 Company 2023 Due within one year Trade debtors Amounts owed by8roup undertakings Other debtors Prepayments and accrued income 21.641 14.547 10,495 139,847 7,917 105,036 8,858 30.499 16.119 30.666 8,820 159,162 16,075 129,028 15. Creditors: Amounts fallln8 due within one year Group 2024 Group 2023 Company 2024 Company 2023 Trade credStors Other taxation and social security Other crediiors A¢cruals and deferred income 14,250 3.312 1,083 49.033 67,678 20,045 3,767 1,083 42.244 67.139 13.227 20,045 1,083 4,734 19,044 1,084 3,760 22,365 43
crry DISCOVERY CENTRE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Statement of fvnds Balance at l April 2023 Transfer to Balance at 31 other March 2024 Income Expenditure seThes Unrestrirted funds General funds all funds 213,244 357.515 1412.7031 158.056 Restricted funds Bradwell Parish MK Counol- Mèintersance Fund MK Council- Pilgrim trail projecr MK Museum National Lottery Heritage Fund Stantonbury Parish Council Tilstone Par Donation {l,L) 112,9811 12.4281 19231 130.7801 15001 36.323 50.1XX) 73,342 572 7.077 20.601 27,878 5LJJ 23,503 i.0 1,000 67.701 83.503 148,6121 102,592 Totsl of funds 280.945 441.018 (461,3151 260,648 The trustees have designated the funds to enable support for a variety of key a85. to ringfence from normal unrestricted funds available to the chartty. In respect of the larger funds. these are reslricted for the folhjwing purposes: MK Council.. forvarious charitable projects. maintenante, business plans and completion of conservation works. National Lottery Heritage Fund= For Archive and New Town actNit*s.
CITY DISCOVERY CENTRE IA company limited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Summary offunds Summary offvnds-curontyear Balance at IApril 2023 Transfer between Expendlture reserve5 Balance at 31 March 2024 Income General funds Restricted funds 213.244 67.701 280.945 357.5154 83,503 441,018 {412,7031 148.6121 1461.3151 158.056 102.592 260.648 18. Analysis of net assets between funds Analysis of net assets between funds- cwrent year Unrestrirted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wr¢hin one year 25.948 199.786 167.6781 158,056 25,948 302,378 167,6781 260,648 102,592 102,592 45