**REGISTERED COMPANY NUMBER: 01931454 (England and Wales) REGISTERED CHARITY NUMBER: 298647** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FOR** ## **DEAN HERITAGE MUSEUM TRUST** Centora Ltd Jury Farm, Ripley Lane West Horsley KT24 6JT **DEAN HERITAGE MUSEUM TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Page**| |---|---| |**Report of the Trustees**|3 to 6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8 to 9| |**Notes to the Financial Statements**|10 to 16| |**Detailed Statement of Financial Activities**|17| **Dean Heritage Centre A company limited by guarantee** ## **Dean Heritage Centre Trustees report for year ending 31 December 2020** . ## **Summary** The Dean Heritage Centre is an accredited museum located in the historic Forest of Dean, but we are far more than just a museum. The building itself has had more than six different uses over a 400-year period, beginning life as an iron forge to support the iron ore mining activity which has been a part of the area since 500BC.It now houses a collection of over 20,000 items, all relating to the rich cultural history of the area. In 1979 Forest of Dean Rotary club instigated the formation of the Dean Heritage Museum Trust, in recognition that the unique cultural heritage of the area was being lost. In 1983 the building at Camp Mill was entrusted to the local council for use by the Trust to open a museum to house the collection and provide information and enjoyment to visitors wishing to understand more about the area. The stated aims of the Charity are to provide a local museum with articles and stories from the local area and provide education about all aspects of the Forest of Dean, it’s history, geology flora and fauna. We also now house a local area reference library housing thousands of maps, pamphlets and pictures and are the depositary for local archaeological finds. In addition to welcoming 20,000 visitors each year, the centre also hosts a number of school groups (2,000 children) through a programme of interactive learning days which are linked to different aspects of the National Curriculum. Through the school holidays children can take part in practical activities and workshops covering a wide variety of topics. Our chainsaw carvers operate at one end of the site – rather unique skills to watch. Since 2018 the onsite Café has been taken in house and now runs directly for the benefit of the Heritage Centre. ## **The Dean Heritage Centre provides** - An in-door museum experience telling the story of the Forest’s geology and archaeology from the ice-age to the present day, the medieval hunting forest, and its mining, industrial and engineering history, and the people who have lived and worked here through the ages. - The Dennis Potter collection of manuscripts and a reconstructed living room from his childhood home in the Forest of Dean - A Victorian school-room brought to life by lessons given by a Victorian school mistress - A traditional Forester’s cottage and cottage garden 3 - A five-acre site with outdoor exhibits and woodland trails specifically designed for children, such as our Gruffalo trail featuring larger-than-life carved wooden Gruffalos, foxes, owls and snakes - WW1 trenches used to bring war experiences to life, especially for historical education days for schools - A children’s playground - A working mill waterwheel demonstrating eco-generation of electric power - An annual three-day traditional charcoal burn in our charcoal burners’ camp - Demonstrations of chainsaw carving - A café and a shop which includes space where local artisans can sell their work - Enjoyment of the Centre’s beautiful forest location. _Museum and Cafe_ ## **2020 Report** Challenging can take on a variety of meanings, but the whole country found 2020 a challenge and everyone at the Centre is delighted to still be here and displaying our heritage into 2021. 2020 started with our Centre Director being dismissed for Gross Misconduct in February. The Centre was also flooded again - by a combination of heavy storms and a partially blocked drain in the road above the Centre. Heavy rain also means the playground flooring is swept away in the waters. Then in March the Covid-19 pandemic moved closer to the UK and by the end of March the whole country was in lockdown, leaving the staff and trustees to envisage a way through when we had no idea what would happen. Staff were furloughed according to the government scheme and we applied for Grants to help cover our remaining costs. We were supported by the government and local authority, Charities Aid Foundation, National Heritage Lottery fund, a bounce back loan from Lloyds Bank and the local people of the Forest of Dean who signed up to our direct debit donation scheme and took part in our other fundraising initiatives. The pandemic really took over the rest of the year with trading indoors at all being difficult and infrequent, however the Centre staff tried some initiatives which were successful and we will be able to continue, including picnics from the café and an online booking system for picnics, afternoon teas and Santa. We were able to have a Santa event, but as he was in a high risk covid group he attended via a virtual TV link from the upstairs bedroom in the cottage to its downstairs kitchen. Despite that, bookings were full (some children preferred Santa at a distance!). We also created DHC Calendars and sold them via the internet, which also went down well and drew people into the shop. 4 All credit goes to the Staff and Trustees with their ideas and hard work during such a difficult time They have ensured the Centre is still open today. With forward planning so difficult the trustees did not advertise for a replacement Centre Director until early in 2021 and then it was decided to find someone to start early in the season (subject to Covid restrictions). The grants and loans kept the Centre afloat, money received from the insurance for the flooding will not just go towards replacing damaged items but will be spent on making the Centre flood resilient, so future flooding will not have such a great impact. The strategic and operations plan will be picked up again when the situation is clearer. Alison Breton Chair of Trustees 5 ## **DEAN HERITAGE MUSEUM TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 01931454 (England and Wales) ## **Registered Charity number** ## **Registered office** Dean Heritage Centre Camp Mill Soudley Cinderford Gloucestershire GL14 2UB ## **Trustees** R I Baird Education Consultant A J Breton Company Director T F Cotterell Senior Curator S M Dudley Marketing Consultant A Hill (appointed 15.4.21) P A Smith Commercial Director (appointed 18.6.20) ## **Company Secretary** ## **SIGNED SECURELY** S M Dudley **26/08/2021 at 5:21:39 PM UTC** Approved by order of the board of trustees on ............................................. and signed on its behalf by: **SIGNED SECURELY** **26/08/2021 at 5:21:39 PM UTC** .............................................................................. Trustee 6 **DEAN HERITAGE MUSEUM TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
11,944
**Charitable activities**
Friends for Foresters Forest
-
Operation of heritage centre
73,605
FoD Archaeological Survey
-
School Activities & Groups
-
Admissions & Season Tickets
16,151
Art Exhibition Commission
-
Other trading activities
2
62,410
Investment income
3
4
Other income
30,756
**Total**
194,870
**EXPENDITURE ON**
**Charitable activities**
Operation of heritage centre
65,083
Direct Costs
35,097
Staff Costs
106,506
ACE Resilience
-
Other
(1,247)
**Total**
205,439
**NET INCOME/(EXPENDITURE)**
(10,569)
**Transfers between funds**
14
(759)
**Net movement in funds**
(11,328)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(8,921)
**TOTAL FUNDS CARRIED FORWARD**
(20,249)|Restricted
funds
£
(1)
-
30,500
-
-
-
-
-
-
-
30,499
13,123
-
-
-
1,247
14,370
16,129
759
16,888
324,182
341,070|31.12.20
31.12.19
Total
Total
funds
funds
£
£
11,943
7,703
-
2,287
104,105
-
-
402
-
5,195
16,151
72,451
-
1,350
62,410
135,162
4
-
30,756
-
225,369
224,550
78,206
272,462
35,097
1,610
106,506
677
-
4,938
-
-
219,809
279,687
5,560
(55,137)
-
-
5,560
(55,137)
315,261
370,398
320,821
315,261| |---|---|---| The notes form part of these financial statements Page 2 **DEAN HERITAGE MUSEUM TRUST** ## **BALANCE SHEET 31 DECEMBER 2020** |Notes
**FIXED ASSETS**
Tangible assets
7
Heritage assets
8
**CURRENT ASSETS**
Stocks
9
Debtors
10
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.20

Total
funds
£
350,259
2,971
353,230
4,859
1,560
29,365
35,784
(64,976)
(29,192)
324,038
(3,217)
320,821
(20,249)
341,070
320,821|31.12.19
Total
funds
£
360,341
2,971
363,312
6,106
9,652
2,465
18,223
(58,159)
(39,936)
323,376
(8,115)
315,261
(8,921)
324,182
315,261| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 3 **DEAN HERITAGE MUSEUM TRUST** ## **BALANCE SHEET - continued** ## **31 DECEMBER 2020** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the **SIGNED SECURELY** small companies regime. **26/08/2021 at 5:21:39 PM UTC** The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: **SIGNED SECURELY** **26/08/2021 at 5:21:39 PM UTC** ............................................. Trustee The notes form part of these financial statements Page 4 **DEAN HERITAGE MUSEUM TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. OTHER TRADING ACTIVITIES** ||31.12.20|31.12.19| |---|---|---| ||£|£| |Shop income|7,705|26,822| |Café sales|39,998|101,892| |Other sales|14,307|4,211| |Premises hire|400|2,237| ||62,410|135,162| continued... Page 5 **DEAN HERITAGE MUSEUM TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **3. INVESTMENT INCOME** ||31.12.20|31.12.19| |---|---|---| ||£|£| |Deposit account interest|4|-| |**NET INCOME/(EXPENDITURE)**||| |Net income/(expenditure) is stated after charging/(crediting):||| ||31.12.20|31.12.19| ||£|£| |Depreciation - owned assets|12,583|-| ## **4. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,703
**Charitable activities**
Friends for Foresters Forest
-
FoD Archaeological Survey
402
School Activities & Groups
5,195
Admissions & Season Tickets
Art Exhibition Commission
72,451
1,350
Other trading activities
135,162
**Total**
222,263
**EXPENDITURE ON**
**Charitable activities**
Operation of heritage centre
262,724
Direct Costs
-
Staff Costs
-
ACE Resilience
-
**Total**
262,724
**NET INCOME/(EXPENDITURE)**
(40,461)
**Transfers between funds**
691
**Net movement in funds**
(39,770)|Restricted
funds
£
-
2,287
-
-
-
-
-
2,287
9,738
1,610
677
4,938
16,963
(14,676)
(691)
(15,367)|Total
funds
£
7,703
2,287
402
5,195
72,451
1,350
135,162
224,550
272,462
1,610
677
4,938
279,687
(55,137)
-
(55,137)| |---|---|---| continued... Page 6 **DEAN HERITAGE MUSEUM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** |**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2020
Additions
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
**8.**
**HERITAGE ASSETS**
**MARKET VALUE**
At 1 January 2020 and 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
**9.**
**STOCKS**
Finished goods|Unrestricted
funds
£
30,849
(8,921)
Freehold
Plant and
property
machinery
£
£
495,378
24,643
-
2,501
495,378
27,144
149,614
22,781
9,738
1,351
159,352
24,132
336,026
3,012
345,764
1,862|Restricted
funds
£
339,549
324,182
Fixtures
and
fittings
£
175,498
-
175,498
162,783
1,494
164,277
11,221
12,715
31.12.20
£
4,859|Total
funds
£
370,398
315,261
Totals
£
695,519
2,501
698,020
335,178
12,583
347,761
350,259
360,341
Total
£
2,971
2,971
2,971
31.12.19
£
6,106|Total
funds
£
370,398| |---|---|---|---|---| |||||315,261| continued... Page 7 **DEAN HERITAGE MUSEUM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---|---| |||31.12.20|31.12.19| |||£|£| ||Trade debtors|35|3,151| ||Other debtors|681|681| ||VAT|-|5,055| ||Prepayments|844|765| |||1,560|9,652| |**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||31.12.20|31.12.19| |||£|£| ||Bank loans and overdrafts (see note 13)|12,878|21,612| ||Other loans (see note 13)|34,195|8,413| ||Trade creditors|2,893|8,771| ||Social security and other taxes|1,271|771| ||Pensions payable|403|-| ||VAT|7,365|14,210| ||Accrued expenses|5,971|4,382| |||64,976|58,159| |**12.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**||| |||31.12.20|31.12.19| |||£|£| ||Other loans (see note 13)|3,217|8,115| |**13.**|**LOANS**||| ||An analysis of the maturity of loans is given below:||| |||31.12.20|31.12.19| |||£|£| ||Amounts falling due within one year on demand:||| ||Bank overdrafts|12,878|22,151| ||Current Account|-|(230)| ||Cardnet account|-|(1,809)| ||DHMT Friends Loan|-|1,500| ||CAF Loan|9,195|8,413| ||Bounce Back Loan|25,000|-| |||47,073|30,025| ||Amounts falling between one and two years:||| ||Other loans - CAF|3,217|8,115| continued... Page 8 **DEAN HERITAGE MUSEUM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **14. MOVEMENT IN FUNDS** |Net
movement
At 1.1.20
in funds
£
£
**Unrestricted funds**
Operation of heritage centre
(8,921)
(10,569)
**Restricted funds**
Operation of heritage centre
324,182
16,129
**TOTAL FUNDS**
315,261
5,560
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
Operation of heritage centre
194,870
**Restricted funds**
Operation of heritage centre
30,499
**TOTAL FUNDS**
225,369
**Comparatives for movement in funds**|Transfers
between
At
funds
31.12.20
£
£
(759)
(20,249)
759
341,070
-
320,821
Resources
Movement
expended
in funds
£
£
(205,439)
(10,569)
(14,370)
16,129
(219,809)
5,560| |---|---| |**Unrestricted funds**
Operation of heritage centre
**Restricted funds**
Operation of heritage centre
Ace Resilience
HLF SWERDA - Museum Refurb
**TOTAL FUNDS**|Net
movement
At 1.1.19
in funds
£
£
30,849
(40,461)
324,873
-
4,938
(4,938)
9,738
(9,738)
339,549
(14,676)
370,398
(55,137)|Transfers
between
funds
£
691
(691)
-
-
(691)
-|At
31.12.19
£
(8,921)
324,182
-
-
324,182
315,261| |---|---|---|---| continued... Page 9 **DEAN HERITAGE MUSEUM TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **14. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
Operation of heritage centre
**Restricted funds**
Friends for Foresters Forest
Ace Resilience
HLF SWERDA - Museum Refurb
**TOTAL FUNDS**|Incoming
resources
£
222,263
2,287
-
-
2,287
224,550|Resources
Movement
expended
in funds
£
£
(262,724)
(40,461)
(2,287)
-
(4,938)
(4,938)
(9,738)
(9,738)
(16,963)
(14,676)
(279,687)
(55,137)| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
Operation of heritage centre
**Restricted funds**
Operation of heritage centre
Ace Resilience
HLF SWERDA - Museum Refurb
**TOTAL FUNDS**|Net
movement
At 1.1.19
in funds
£
£
30,849
(51,030)
324,873
16,129
4,938
(4,938)
9,738
(9,738)
339,549
1,453
370,398
(49,577)|Transfers
between
funds

£
(68)
68
-
-
68
-|At
31.12.20
£
(20,249)
341,070
-
-
341,070
320,821| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
Operation of heritage centre
**Restricted funds**
Friends for Foresters Forest
Operation of heritage centre
Ace Resilience
HLF SWERDA - Museum Refurb
**TOTAL FUNDS**|Incoming
resources
£
417,133
2,287
30,499
-
-
32,786
449,919|Resources
Movement
expended
in funds
£
£
(468,163)
(51,030)
(2,287)
-
(14,370)
16,129
(4,938)
(4,938)
(9,738)
(9,738)
(31,333)
1,453
(499,496)
(49,577)| |---|---|---| continued... Page 10 **DEAN HERITAGE MUSEUM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2020. Page 11 **DEAN HERITAGE MUSEUM TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
**Other trading activities**
Shop income
Café sales
Other sales
Premises hire
**Investment income**
Deposit account interest
**Charitable activities**
Grants
School Activities
School groups
Group admissions
Admissions
Season tickets
Art Exhibition Commission
HMRC JRS Grant
EOTHO Grant
**Other income**
Electricity income
General fundraising
Insurance claim
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Direct costs
Support costs
Total resources expended
**Net income/(expenditure)**|31.12.20

£
11,943
7,705
39,998
14,307
400
62,410
4
58,102
-
-
-
16,151
-
-
45,276
727
120,256
3
41
30,712
30,756
225,369
104,151
1,115
1,240
32,097
81,206
219,809
219,809
5,560|31.12.19
£
7,703
26,822
101,892
4,211
2,237
135,162
-
2,689
3,076
2,119
923
69,942
1,586
1,350
-
-
81,685
-
-
-
-
224,550
131,975
2,632
1,314
70,342
73,424
279,687
279,687
(55,137)| |---|---|---| This page does not form part of the statutory financial statements Page 12