Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Company registration number: 02134529 Charity registration number: 298116
Wimborne Minster Model Town
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 October 2024
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 to 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 23 |
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Reference and Administrative Details
| Trustees | M G Terrell, Chair of trustees to 31 October 2024 |
|---|---|
| J Runciman, Chair of trustees from 1 November 2024 | |
| M J Hopkins, Treasurer | |
| H Bichenough | |
| D P Jones | |
| J King | |
| Charity Registration Number | 298116 |
| Company Registration Number | 02134529 |
| Registered Office | Wimborne Minster Model Town |
| 16 King Street | |
| Wimborne | |
| Dorset | |
| BH21 1DY | |
| Independent Examiner | PKF Francis Clark |
| Chartered Accountants | |
| Towngate House | |
| 2-8 Parkstone Road | |
| Poole | |
| Dorset | |
| BH15 2PW | |
| Solicitors: | Talking Legal Lawyers |
| The Granary | |
| 2 The Barns | |
| Longham Farm Close | |
| Ferndown | |
| Dorset | |
| BH22 9DE | |
| Bankers | Santander Business Banking Co UK |
| Bridle Road | |
| Bootle | |
| Merseyside | |
| G1R 0AA | |
| Barclays Bank Plc | |
| Town Centre | |
| Leicester | |
| Leicestershire | |
| LE87 2BB | |
| Aldermore Bank Plc | |
| Western House | |
| Lynch Wood | |
| Peterborough | |
| PE2 6FZ |
Page 1
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Trustees' Report
Trustees
M G Terrell, Chair of trustees to 31 October 2024
J Runciman, Chair of trustees from 1 November 2024 (appointed 6 February 2024) M J Hopkins, Treasurer
H Bichenough
D P Jones
J King
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 October 2024.
Legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity's Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities.
Objects of the Charity
The objects of the charity are to advance the education of the public of Wimborne Minster Town, on its history, architecture, design and layout by maintaining and displaying a 1/10th scale model of the Town as it was in 1950. We also promote its social history for the benefit of its inhabitants and of visitors to the town through a number of associated displays including a 1950’s school room. The principal activities relate to the achieving of these aims with particular emphasis on the education of our younger visitors and also by the provision of easy access for the disabled.
Investment Powers
Under the Memorandum of Articles of Association, the charity has the power to make any investment, which the Trustees see fit. Investments are properly managed to ensure they are safe and within FCA protected schemes with investment sums not exceeding appropriate limits.
Structure Governance and Management
The Charity is governed by a Board of Trustees, selected for their skills that match the needs of the charity. Trustees are appointed for a 3-year cycle but may apply for re-election after their term of office is completed. Trustees may only serve for 3 such cycles though may be re-elected beyond that timescale if it is in the interests of the Charity for this to happen. Nick Clark, Manager, very sadly passed away on the 18th November 2023. Day to day operation of the attraction remains delegated to a paid Duty Manager, Marilyn Jonas, and a newly appointed Seasonal Duty Manager, Sue Nash, who started on 31st March 2024. Events, Publicity and PR are delegated to a Marketing Consultant.
The Chairman has given notice to step down at the end of the 2024 season for personal reasons. He wishes to remain as a Trustee. Judi Runciman joined as a Trustee in February 2024 and became Chair on 1st November 2024.
Trustees meet monthly to administer the charity and reports are received from the Marketing Consultant. Both Trustees and the Managers are supported in attending appropriate training courses and all receive full induction training. The Trustees also held a Strategy Workshop with the Marketing Consultant in January 2024, with a follow up in March 2024.
Page 2
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Trustees' Report
Risk Management
Risks to all aspects of the business are regularly reviewed and where identified appropriate policies implemented. The Treasurer has delegated responsibility for managing financial risks and is assisted by an external qualified accountant. One Trustee is charged with managing all other physical risks in relation to the site. In April 2024 Patrick Birchenough was appointed Fire Safety Officer. HR risks are managed via an outsourced HR service. Health and Safety has been outsourced to an appropriately qualified consultant. Reports from both of these consultants are received as required or necessary.
Review of the activities and future developments
General
The Charity meets its objectives by opening to the public from Easter to the end of October each year. All visitors pay an admission fee and this enables the charity to continue to operate. Pricing is based on age criteria but set at a level that is acceptable to all in society. To encourage attendance the charity organises special events and participates in activities put on in the town of Wimborne. In addition to the model of the Town we also offer educational facilities through a 1950’s schoolroom and shop together with displays of historical timelines associated with the era and development of the Model Town. We also offer ancillary attractions including a small crazy golf course, model railway, dolls house exhibition, Life Before Lego, Wareham Bear Collection, sensory garden and play areas for children. Plus an exact 1/100th scale replica of the Model Town creating a “Model of the Model”, which is located in the correct geographic position in relation to the Town.
Feedback gained from visitors remains generally excellent and the models, educational displays and our other attractions are very well received.
The winter maintenance period included the refurbishment of the staff toilet, which was undertaken by external contractors, A & R Property Maintenance. The entrance paving was replaced along with a new resin bonded path in the raised garden. A newly constructed Wendy Street building replaced a dilapidated one.
We ran several events this year: a Bear weekend, model building day, railway day, a vintage weekend and activities during Halloween week. We also supported the town by participating as a dance venue in the annual folk festival weekend and a painting venue for the Wimborne Plein Air Event. All of these proved to be extremely popular and well attended.
Financial - 2023/24 Season
Further improvements to the site were undertaken at the start of this season with the front path leading to the Admissions Area was torn up and re-laid with paving slabs. This has removed the trip hazard from the Crazy Paving Path that was previously laid. In addition the gravel on the Top Path in the Garden area was replaced with a resin path. The total cost of these improvements amounted to £23,000.
There was no increase in ticket prices for this season but there will be an increase for the next season to cover rising costs. Gift Aid donations totaled £28,375 and 4,657 visitors took advantage of the 12 month free readmissions.
Financially we recorded a loss of £6,076.
Page 3
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Wimborne Minster Model Town
Trustees' Report
Financial Year 2023/24
We started the year with balances totaling £308,000 and ended the year with £285,500. Overall our performance was satisfactory given the economic situation and whilst visitor numbers were slightly down, mainly due to August weather, overall it has been a good year.
Our energy costs were down by 50% over the previous year, which partly reflects the drop in energy prices and also better control over energy usage.
Due to the danger of a recession and the pressure on household incomes we face a difficult year next season and will need to keep a tight control on expenditure.
Our aim for next season is to create regular surpluses in order to further improve the site.
We will continue with our on going maintenance programme, including the re-roofing of the Main Building, which will be undertaken by G.M. Spicer Roofing. Repairs to the back wall of the kitchen, which will be undertaken by A & R Property Maintenance. The Lady Hanham building will be reconfigured to take the dolls houses currently located in the Main Building. This will then allow for the shop to be relocated in the Main building and the tables for the tearoom to be reorganised. All these projects were considered and budgeted for when undertaking our financial review. This expenditure will be met from our reserves which the Board are satisfied remain sufficient both to cover this work and to safeguard the future of the business.
The five year temporary planning permission for Shed 5, Life Before Lego, expires in 2025 and we will be applying for an extension.
Public Benefit
The Trustees have given due regard to public benefit when planning the charity's activities, in accordance with the Charity Commission's Guidance on Public Benefit.
The paragraphs above set out the activities, achievements and performance during the year, which are directly related to the objects and purposes for which the charity exists. The charity achieves its principal objects and purposes by maintaining and displaying a scale model of the town as it was in 1950 and promoting knowledge of local social history with particular emphasis on younger visitors and easy access for the disabled. These benefits are directly related to the aims of the charity and are fully compliant with the Charity Commission Principles on Public Benefit.
Reserves Policy and Risk Management
The Trustees continue to meet on a monthly basis to review the current activities and make plans for the future. At the same time they examine any areas where there could be any risk to the smooth running operation of the charity and decide how best to mitigate any impact of such risks, should they materialise.
As at 31st October 2024, our cash reserves stand at £285,500 but £75,000 will be required for running expenses and remedial work to the exterior walls of the Cafe area and to the roof of the admissions building.
The Trustees policy is to maintain free reserves of £200,000 to cover the closed period. After allowing for building works we remain within that £200,000 limit.
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Trustees' Report
Donations
Donations collected from Holloway Fountain amounted to £72 and the Trustees have decided to increase this to £100 and donate this again to John Thornton Young Achievers Foundation.
In addition the Charity recognises the value of volunteer services at £130,000.
Independent examiners
A resolution will be proposed at the Annual General Meeting that PFK Francis Clark be reappointed as Independent Examiners to the charity for the ensuing year.
Small Company Provisions
This report has been prepared taking advantage of the small companies’ exemption of Section 415A of the Companies Act 2006.
23 April 2025
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
................................................ M G Terrell, Chair of trustees to 31 October 2024 Trustee
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Trustees' Report
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Wimborne Minster Model Town for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 6
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Independent Examiner's Report to the trustees of Wimborne Minster Model Town ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Wimborne Minster Model Town as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Adrian Way FCCA FCA (a director of) PKF - Francis Clark Chartered Accountants
Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW 24 April 2025 Date:.............................
Page 7
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Statement of Financial Activities for the Year Ended 31 October 2024 (Including Income and Expenditure Account)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 7,690 175,945 26,419 4,771 214,825 (10,485) (210,488) (220,973) (6,148) (6,148) 419,101 412,953 |
Restricted funds £ 72 - - - 72 - - - 72 72 2,434 2,506 |
Total 2024 £ 7,762 175,945 26,419 4,771 |
|---|---|---|---|
| 214,897 | |||
| (10,485) (210,488) |
|||
| (220,973) | |||
| (6,076) | |||
| (6,076) 421,535 |
|||
| 415,459 |
The notes on pages 11 to 23 form an integral part of these financial statements. Page 8
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Statement of Financial Activities for the Year Ended 31 October 2024 (Including Income and Expenditure Account)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 3,304 180,438 24,547 2,098 210,387 (10,714) (184,287) (195,001) 15,386 15,386 403,715 419,101 |
Restricted funds £ 2,717 - - - 2,717 - (2,500) (2,500) 217 217 2,217 2,434 |
Total 2023 £ 6,021 180,438 24,547 2,098 |
|---|---|---|---|
| 213,104 | |||
| (10,714) (186,787) |
|||
| (197,501) | |||
| 15,603 | |||
| 15,603 405,932 |
|||
| 421,535 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 11 to 23 form an integral part of these financial statements. Page 9
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
(Registration number: 02134529) Balance Sheet as at 31 October 2024
| Note Fixed assets Tangible assets 13 Current assets Stocks 15 Debtors 16 Cash at bank and in hand Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds 18 Unrestricted income funds Unrestricted funds Total funds 18 |
2024 £ 137,145 3,247 13,279 285,590 302,116 (23,802) 278,314 415,459 2,506 412,953 415,459 |
2023 £ 136,966 1,738 5,247 308,452 |
|---|---|---|
| 315,437 (30,868) |
||
| 284,569 | ||
| 421,535 | ||
| 2,434 419,101 |
||
| 421,535 |
For the financial year ending 31 October 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 8 to 23 were approved by the trustees, and authorised for issue on 23 April 2025 .................... and signed on their behalf by:
......................................... M G Terrell, Chair of trustees to 31 October 2024 Trustee
The notes on pages 11 to 23 form an integral part of these financial statements. Page 10
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Wimborne Minster Model Town is a registered charity, registration number 298116, company number 02134529, registered in the United Kingdom. The address of the charity is given in the reference and administrative details on page 1 of these financial statements. The nature of the charity’s operations and principal activities are described in the Trustees' annual report.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Exemption from preparing a cash flow statement
The charity adopted Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The financial statements have been prepared on a going concern basis. As explained in the trustee report the board have considered the future uncertainties and the impact on the charity’s operations and finances in the short to medium term. In the opinion of the board, the charity has sufficient working capital to continue to meet its financial obligations and pay its liabilities as they fall due for the foreseeable future. The board have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 11
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Gift aid
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Other trading activities
Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).
Investment income
Investment income is recognised on a receivable basis.
Charitable activities
Income from charitable activities includes some income recognised as earned (as the related goods or services are provided).
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 12
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
Governance costs
These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and Trustees' meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Heritage assets
Heritage assets held are a permanent collection of model buildings showing Wimborne Minster Town as it was in 1950.
These assets are significant to the charity because the Charity's objects are restricted to advance through education, knowledge of the town of Wimborne Minster, its history, architecture, design and layout, including the social history, through the establishment and maintenance of a permanent collection of model buildings showing Wimborne Minster Town as it was in 1950. The assets are used by the charity for these purposes.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Buildings | 10% straight line basis |
| Site and gardens | 10% straight line basis |
| Plant and equipment | 20% straight line basis |
| Models | 10% straight line basis |
| Exhibitions | 20% straight line basis |
In the year of addition a full year depreciation is charged and in the year of disposal no depreciation is charged.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out basis (FIFO).
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against net incoming resources on a straight line basis over the periods of the lease.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the Charity.
Designated unrestricted funds are resources set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2 Income from donations and legacies
| Donations and legacies; Donations Grants, including capital grants; Grants |
Unrestricted funds General £ 7,240 450 7,690 |
Restricted funds £ 72 - 72 |
Total 2024 £ 7,312 450 7,762 |
Total 2023 £ 6,021 - |
|---|---|---|---|---|
| 6,021 |
3 Income from charitable activities
| Gift Aid tax relief Admission fees Gift Aid tax relief Admission fees Miscellaneous income |
Unrestricted funds General £ 28,375 147,570 175,945 Unrestricted funds General £ 35,217 145,125 96 180,438 |
Total 2024 £ 28,375 147,570 |
|---|---|---|
| 175,945 | ||
| Total 2023 £ 35,217 145,125 96 |
||
| 180,438 |
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
4 Income from other trading activities
| Trading income; Shop income from sale of donated goods and services Other trading income Catering sales 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits 6 Expenditure on raising funds |
Unrestricted funds General £ 14,301 6,764 5,354 26,419 Unrestricted funds General £ 4,771 |
Total 2024 £ 14,301 6,764 5,354 26,419 Total 2024 £ 4,771 |
Total 2023 £ 12,642 7,406 4,499 |
|---|---|---|---|
| 24,547 | |||
| Total 2023 £ 2,098 |
|||
a) Costs of trading activities
| Costs of goods sold | Unrestricted funds General £ 10,485 10,485 |
Total 2024 £ 10,485 10,485 |
Total 2023 £ 10,714 |
|---|---|---|---|
| 10,714 |
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
7 Expenditure on charitable activities
| Site management Rent and rates Water, gas and electricity Visitor centre service costs Insurance Repairs and maintenance Visitor centre project Publicity Exhibition expenses Legal and professional fees Depreciation of fixed assets Support costs Governance costs (see note 8) |
Total 2024 £ 41,508 2,504 10,602 4,804 8,978 32,779 30,862 33,384 3,641 2,057 24,171 10,212 4,986 210,488 |
Total 2023 £ 39,136 2,283 16,749 4,710 5,167 29,559 18,226 30,580 1,627 3,928 22,360 9,155 3,307 |
|---|---|---|
| 186,787 |
8 Analysis of governance costs
Governance costs
| Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 4,986 4,986 |
Total 2024 £ 4,986 4,986 |
Total 2023 £ 3,307 |
|---|---|---|---|
| 3,307 |
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Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
9 Net incoming/outgoing resources
Net (outgoing)/incoming resources for the year include:
| Depreciation of fixed assets Independent examiner's fee |
2024 £ 24,171 4,986 |
2023 £ 22,360 3,307 |
|---|---|---|
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration or any other benefits from the charity during the year.
11 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages, salaries and subcontractors National Insurance contributions Pension costs |
2024 £ 39,032 2,242 234 41,508 |
2023 £ 36,900 1,955 281 |
| 39,136 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| The average number of employees during the year was | 2024 No 2 |
2023 No 2 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
12 Taxation
The company is a registered charity and is, therefore, exempt from taxation.
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
13 Tangible fixed assets
| Cost At 1 November 2023 Additions At 31 October 2024 Depreciation At 1 November 2023 Charge for the year At 31 October 2024 Net book value At 31 October 2024 At 31 October 2023 |
Land and buildings £ 269,813 - 269,813 163,919 15,154 179,073 90,740 105,894 |
Models, plant and equipment £ 61,372 - 61,372 55,981 2,353 58,334 3,038 5,391 |
Exhibitions £ 8,764 - 8,764 6,964 900 7,864 900 1,800 |
Site and gardens £ 80,462 24,350 104,812 56,581 5,764 62,345 42,467 23,881 |
Total £ 420,411 24,350 444,761 283,445 24,171 307,616 137,145 136,966 |
|---|---|---|---|---|---|
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
14 Heritage assets
Heritage assets not recognised in the balance sheet
Heritage assets held are a permanent collection of model buildings showing Wimborne Minster Town as it was in 1950.
The charity has not obtained a valuation of its donated heritage assets. It is impracticable because the model buildings comprise an exact 1/10th scale replica of Wimborne town centre as it was in 1950. The buildings in the centre of the town were individually surveyed at that time and the replicas were hand crafted in concrete, based on the plans drawn up from the survey. The original plans and construction formers have been lost in the interim years and a number of the key buildings in the actual town of Wimborne have been demolished over time. It is therefore now impossible to replicate the models.
These assets are significant to the charity because the Charity's objects are restricted to advance through education, knowledge of the town of Wimborne Minster, its history, architecture, design and layout, including the social history, through the establishment and maintenance of a permanent collection of model buildings showing Wimborne Minster Town as it was in 1950. The assets are used by the charity for these purposes.
15 Stock
| Stocks 16 Debtors Trade debtors Prepayments |
2024 £ 3,247 2024 £ 7,603 5,676 13,279 |
2023 £ 1,738 |
|---|---|---|
| 2023 £ 2,974 2,273 |
||
| 5,247 |
17 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security VAT grant repayable Accruals |
2024 £ 5,016 3,518 10,668 4,600 23,802 |
2023 £ 12,592 1,614 12,327 4,335 |
|---|---|---|
| 30,868 |
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Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
18 Funds
| Unrestricted funds General Retained Reserve Designated Designated Fixed Asset Reserve Adverse Weather Repairs and Replacements Total unrestricted funds Restricted funds Minster Repair Holloway fountain Total restricted funds Total funds |
Balance at 1 November 2023 £ 147,135 136,966 45,000 90,000 271,966 419,101 2,118 316 2,434 421,535 |
Incoming resources £ 214,825 - - - - 214,825 - 72 72 214,897 |
Resources expended £ (196,802) (24,171) - - (24,171) (220,973) - - - (220,973) |
Transfers £ (24,350) 24,350 - - 24,350 - - - - - |
Balance at 31 October 2024 £ 140,808 137,145 45,000 90,000 |
|---|---|---|---|---|---|
| 272,145 | |||||
| 412,953 | |||||
| 2,118 388 |
|||||
| 2,506 | |||||
| 415,459 |
Page 21
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
| Unrestricted funds General Retained Reserve Designated Designated Fixed Asset Reserve Adverse Weather Repairs and Replacements Total unrestricted funds Restricted Sensory Garden Minster Repair Holloway fountain Total restricted funds Total funds |
Balance at 1 November 2022 £ 187,464 81,251 45,000 90,000 216,251 403,715 - 2,001 216 2,217 405,932 |
Incoming resources £ 210,387 - - - - 210,387 2,500 117 100 2,717 213,104 |
Resources expended £ (172,641) (22,360) - - (22,360) (195,001) (2,500) - - (2,500) (197,501) |
Transfers £ (78,075) 78,075 - - 78,075 - - - - - - |
Balance at 31 October 2023 £ 147,135 136,966 45,000 90,000 |
|---|---|---|---|---|---|
| 271,966 | |||||
| 419,101 | |||||
| - 2,118 316 |
|||||
| 2,434 | |||||
| 421,535 |
Page 22
Docusign Envelope ID: 25067CB1-FFC4-400B-B438-7C7785F5746C
Wimborne Minster Model Town
Notes to the Financial Statements for the Year Ended 31 October 2024
Fixed asset reserve - In order to ensure that the charity has adequate funding for future requirements, an amount equal to the net book value of fixed assets is maintained in a designated fixed asset reserve.
Adverse weather reserve - It is the trustees' policy to maintain a reserve to cover any future deficit in trading income, £45,000 has been designated should we experience a poor trading season due to adverse weather as this would have a knock on effect to the following closed season.
Repairs and replacements reserve - The site buildings and facilities are now over 30 years. Programmes are in place to both maintain the models and renovate all the site buildings and facilities.
19 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ - 137,145 164,610 135,000 (23,802) - 140,808 272,145 Unrestricted funds General £ Designated £ - 136,966 178,003 135,000 (30,868) - 147,135 271,966 |
Restricted funds £ - 2,506 - 2,506 Restricted funds £ - 2,434 - 2,434 |
Total funds at 31 October 2024 £ 137,145 302,116 (23,802) |
|---|---|---|---|
| 415,459 | |||
| Total funds at 31 October 2023 £ 136,966 315,437 (30,868) |
|||
| 421,535 |
20 Related party transactions
There were no related party transactions in the year.
Page 23