FLORENCE NIGHTINGALE MUSEUM TRUST IA Company Umlted by Guarantee) FINANCIAL STATEMENTS FOR THE PERIOD OF EIGHTEEN MONTHS ENDED 30SEPTEM8ER 2021 Registered number.. 02246583 Charity number.. 299576
FLORENCE NIGHTINGALE MUSEUM TRUST CONTENTS Page Reference and Administrative Details of the Charity. its Tr¥Jstees and Advisers Chairfs Statement Trustees, Report 3-10 Independent Examiners, Report li Statement of Financial ActivitSes 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Financial Statements 15-26
FLORENCE NIGHTINGALE MUSEUM TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITSTRUSTEES ANO ADVISERS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Trustees Oame Christine Beasley CBE. Chair Colin 8rou8h IRessgned l April 20211 Jon Card Alastair Gourlay Dame janet Vitmayer CBE Barone55 Mary Watkins (Resigned l April 20211 Darren Barker IAppointed l April 20211 Donna Curry (Appointed l April 20211 lane Dwelly (Appointed l April 20211 Alison Hofman IAppointed l April 20211 Peter Kay (Appointed l April 20211 Professor Thomas Keams (Appointed l April 20211 Jènnifef Rogers IAppoint•d l April 20211 Company reglstered number 02246583 Charity registered nurnber 299576 Registered office St Thomas. Hospltal 2 Lambeih Pala¢e Road London SEI 7EW Independent auditors Moore Kingston Smith Devofishire House 60 Goswell Road London ECIM 7A0 Bankers National Westminsier Bank PIC london SEI 8XJ Investrnent Managers Sarasin & Partners LLP BNY Mellon Ftjnd Managers Ltd
FLORENCE NIGHTINGALE MUSEUM TRUST CHAIR'S STATEMENT FOR THE PERIOD ENDED 30SEPTEMBER 2021 The Chair presents her statemertrt for the period. The time of reflection which writing this ieport offers, Is understandably a poignant one, when one consider5 the effects of the global pandemic on rnany individuals wofldwide, the nursing profe55ion and the heritage- tourism sector whSch we are part of. It is however. also a time of gratitude and admiration.. a time for me to wholeheartedly thank all of our many supporters and the museum team for their efforts in securing the future of ihe museum and its collection. Whilst the past two years have presented the museum with unprecedented and unthinkable challenge5. at a time when we had planned to be at our busiest celebrating Ni8htingale'5 bicentenary and the WHO Year of the Nurse and Midwife. the team has shown its agility and resilience to overcome the obstacles they would never have expected to fate. Indeed, l am thankful to be able to report that we have progressed to the positive jurtclure where we are now very much able to once more consider long term plans and expansion, rather than battlin8 to survive, a5 Was the case in Summer 2020. It has been an honour to be the Chair of the museum during Nightlngale's bicentenary and be part 0150 many wonderful event5 lead by the rnu5eum ihroughout 2020 and 2021. Thi5 includes the creation of exhibition5 and learnin8 programrnes, the unique opportunity to illvminate the Houses of Parliament with Ni8htin8ale's image and a message ol thanks to our nurses and carers on 12 May 2020, an emotsonal evenson8 service at St Paul's Cathedral in November 2021, and the spertacylar participation in the Lord Mayor's Show just days after this, an event which provided a fStting linale to our pro8ramrne. It has been fewarding to see the museum work with so many volunteers and partners. Including many member5 of the local community and nursin& organisations, Our efforts have truly touched the lives of rhousand5 and hèlped to inspire, educate. entertain and bring people tO8ether, with such positive efferts on people's wellbeing. I'm Sure that Nlghtingale herself would be Proud as we have shed118ht on the le8acy she was so keen to achleve and the work and compasslon of the profession she created. As the activities celebratin8 Ni8htin8ale's bicentenary and WHO'S Year of the Nurse & MSdwlfe have now drawn to a close. and the museum is able to feopen and welcome visitors every day once more, the team and I must now focus our attention on a much lar8er challenge.. that being ihe relocation of the museum- a challenge that be8ins with u5 finding a new home. Our charlty has been hugely grateful for the support of the Guy'5 & St Thomas. NHS Foundation as our landlord for the past 30 year5. bvt recognise the end of our tenancy will provide new opportunities, including the chance for the museum to expand its services and embrace further partnership workin8 Wlth new audiences. Whilst ihis is not an easy task l am confident that we have the team to secure success and our achievements ot recent years will stand us in 8ood stead to move forward and Teach even higher levels of achievement. Dame Christine Beasley CBE Chalr-The Florence Nightingale Museum Date.. FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 The Trustees present their annual report together with the audited financial statements of the Charity for the 18 months l April 2020 to 30 Septernber 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirement5. the requirements of the companvs governing document and the provisions of the Statement of Recornrnended Practice ISORPI. applicable to chariiies prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I lanvary 20151 as amended by Update Bulletin I leffective I january 20151. Since the Charity qualifies as small under section 383. the strategic report reqvired of medium and lar8e companies under The Companies Att 2LK16 (Strategic Report and Direttor's Report) Regulations 2013 is not requirtrd. The Trustee5 confirm that the Charlty Commi5sion'5 general guidanee on publlc benefit has been consldered in relation io the objectives of the Charity. The report below sets out those objectives and describes how they have been met in the current year. OBjEIVEs OF THE CHARiri The Trust's Memorandurn of Association gives the objectives as the advancement of the education of nurses or those engaged in nursin8. In the furtherante of this objective, the governing document gives the Trust powers which Snclude the lollowin8'. To establish and malntaln a Museum for the preseThaiion and widei display of the Nightingale collectlon,, To fe¢eive donatlons of suilable items lor the ColleOn, or io purchase suitable items.. To facilitate research Into the history and work ol Florence Ni8htir*gale. particularly In relatlon to the flr5t trainin8 school for nurses at St Thomas, Hospit31 and consequential deveFopments In the nurslng profession. STRUCTURE. GOVERNANCE AND MANAGEMENT The company wa5 established under a Memorandum of A550Ciation which tstablished the objects and powers ol the charitable company and is 8overned under its Article5 of Association. The Trustees, who are also direttors ol the company The Florence Nightingale Museum Trust during the year and up to the date af this report. were as follows.. Office HoldErs'. Chaii.. Dame Christine Beasley CBE Vlce Chair-. Dame Janet Vitmayer CBE (Appointed l April 20211 Treasurer.. Jon Card
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 30SEPTEMBER 2021 Directors and Trustees= Dame Christine Beasley CBE Colin Brovgh IResigned l April 20211 Jon Card Alastalr Gourlay Dame Janet Witmayer CBE Baroness Mary Watkins IReslgntd l Aprll 20211 Darren Barker (Appointed l Aprll 20211 Donna Curry (Appointed l April 20211 Jane Owelly IAppointed l April 20211 Ali50n Hofmèn IAppoinied l April 20211 Peter Kay (Appolnted l April 20211 Profe550r Thom05 Kearns (Appointed l April 20211 Jennifer Rogers (Appointed l Aprll 20211 Museum Dirertor.. Davld Green Trustees are appolnted followin8 advertisement and interview lor periods of up to 5 years. In January 2021 a 81obal search for new trustees took place. to rebuild the board following the end of term for a number of incymbents who we thank lor iheir support and efforts. This endeavour was supported by investment from ACE'S 'Cultural Recovery Fund,. The Mu5eurn engaged Barker Langham Associates, cultural con5ultanry to provide stspport. Trustees are inducted by the Chair with the support of the Director. Trustee5 are also orfered training which is supported by the Association of Independent Museum5. the Arts Countil England and Small Charitie5 Coalition. Trustees retain decision making power. working c105ely with the Oirector as the full-time operational executive officer. The Chair meets the Dirertor to facilitste decision making not le$5 than once per month. The Treasurer meets the Dlrector not less than quarterlv. Due to a strategic decision. taken for the purpose of protectin8 financial resources durlnK the unpredlctable and prolonged period of the pandÈmic. whi15t social distancing rules needed to be rigorously applied, the Director was supported by a ieam of just approximately I full-tirne and 2 part-time employee5 between l April 2021 and March 2022. A decision was made to step back from the previou5 team of 13 which had taken responsibility for Visitor Experience & Commerci31 Development, LeaminR & Community Engagement. Collections Care. Marketing and Promotion. Accounts and Customer Services. with a redundancy process taking place January- March 2021, adding to vacancies created by staff resignations and the lapsing of temptsrary contracts in the months prior to this period.
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Throughout this period the museum was however able to retain the use of volunteer support staff. notably to 5UPPOrt digital projects. such as documentation. monthly'open Days.. and pre-booked tours, all of which supportefl retained acce55 to the collection. With the valuable support of the National Lottery Heritage Fund who financially 5UPPOrted the part-time role of '2020 Project Officer.. Volunteering & Community Engagement.. the Museum has made many ongotng improvements. maximising the opportunities to 1gcu5 On 'back of house, challenges. On8oin8 engagement with volunteers also allowed the Museum to fvrther diversify its workforce. The Trustee5 see continuing this work as a priority in the coming months and years, and have gained support from ihe'People's Postcode Lottery. to support a similar role to continue thts vital work which all appreciate can make such a difference to individual's lives. not least boosting personal confidence and skills. STRATEGIC PLAN The objettive5. formlng the basis of the strate8ic plan of the Charlty. are 35 follows: To secure a long-term location to allow us to meet our aims. and provide a plafform for growth., ro continue tg be a financially sustainable and self-funding organisation., To increase unrestricted funds through an audience-speclfle marketing plan.. To create an enjoyable, inSPlfing and enlightenin8 experiente for our vi51tors.' To provide an active and innatiVe even15 and learning programme; To increose access to our unique collections- To be a cerjtre for research in the history ol nursing.. To value the development and tfftttivè management of staff and volunteers. ACHIEVEMENTS AND PERFORMANCE Despite the challenges of the pandemic, which saw si8nificant alterations tts plans for 2020, when the museum had expected to be celebratln8 Ni8htin8ale'$ Bicentennial and WHO'S Year of the Nurse and Midwife, the museum tan be proud ol its achievements during thls period. With the museum forced to c105e on 12 May 2020, the team responded with skill and agility to provide alternative events for the bicentenary including on.line talks and discussions, a digital schools session that was short-listed for the'Kids in Museums Lockdown Learning Award, and ihe unique illumination of the Houses of Parliament- this a global 5ucce55 which saw the site receive 8ratilude and atknowledgement Irorn atross the world, as the projection thanked and acknowled6ed all nurses and carers lor their efforts in lighting the pandemlc, In addition to highlighting Ni8htin8ale's landmark dates. The museum contlnued to enga8e audiences via online content, not least the much-admired online exhibition 'Ni8htln8ale in 200 Object5. People and Places., and was proud to re-open, following the first UK Lockdown. This presented u5 an opportunity to make maximum use of our Nightingale character actor and public health messaging to'wash Your Hands. and'malntatn fresh air. which Nightingale first advocated in her seminal work 'Notes on Nursin8' in 1860. Whilst the museum made the diffituli bvt brave strategic deci5$0n to change our style of operating in January 2021, moving to a system that facilitated school and group visits. alongside 'Open Days, to the general public, thus protecting our charitable resource5 Until our nation wa5 in better health and global tourists began to Ventu into London once more. the team continued to work with the community to deliver the remaining elernent5 of the planned bicentenary programme. This included a travelling'pop up. exhibition which visited community spaces nationwide, a memorial evenson8 at St Paul's Cathedral and a much-admired and spectacular entry in the 2021 Lord Mayors Show. It has been a joy to work with so many different
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 organi5ation5. partrcularly nur5in8 bodies to deliver this activity. The profile of the museum and its work has been lifted and we very rnuch look forward to developing these relatlonships further in the future. The museum took the opportunity to reinvigorate its board of trustee5. adding not only wider skills and experience. but an international dimension too for the first time. We fully recognise that Nightingale is a global inspiration, and we are keen to explore how to engage more iniernational audiences. Similarly we are excited to build upon the interest in Nightingale's siatistical work and we have added to our leadership team in a way that will allow us to celebrate thls aspect also. One could without doubt say that the biggest achievement for our charity is its suryNal under the most challenging of circumstances. The Continued vigour and good will with which the team operate at every level Is commendable too,. embracing every challenge they face with a smile and tenacity. We must remember that the pandemic struck at the worst possible moment for our or8ariisation, at a time when we had spent considerable fuftds and human resource io preparè for larger than ever visitor numbels and worldwide events. Despite this potentially crushin8 blow, the team rallied and raised si8nificant funds to ensure survival, worklng with partners old and new. The spirlt of the museurn remained. and heads never dropped. We are now on the cusp of re-opening, in a strong financial positton. havin8 retained the support of partners and friends and made many more. We thank everyone who has stood by us on thi5 difficult journey and rallied to support the museum and ensure a long terrn future. We do not know where the museum will be geographically located beyond the end of our tenancy at St Thomas. Hospital, but we can be sure that new opponunities will be embraceé and the legacy ol our work prornotlng Ni8htingale and nuisin8 will ensuie a venue is found. Our bi88est achievement from this period Is that the work of the museum Is truly recognlsed and all are agreed Nightlngale's lamp needs to keep shinin8 and inspiring learning. FINANCIAL REVIEW The Statement of Financial ActlvltSes shows that the unrestrlcted funds of the Museum increased in total by £438,115.12020.. increase of E23,982, fvnds transfer £21,030). Restricted funds increased by a net £288,011 which Is Inclusive of an increase in the valve of the Charity'5 investment portfolio 01 £304.895 as at 30 September 2021. 12020.. restrirted decrease of £66,530, losses £79,859) In accordance with Charity Commission guidance the Trustees have agreed a reserves poliry (see below) based on a realistit assessment Df their reserves needs. It is not their policy to build up resources by retainin8 funds as a matter of habit. Any annual surpluses made are held to provide a prudefit provision lor costs both ftsreseen, and unforeseen, which may be incurred in the future. Printipal fundin8 sources are shown in notes 2 to 5. Further details of restricted grants are given in note 18.
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 MAINTENANCE OF RESERVES As per Charities Ctsmmi5sion 8uid3nce The Trvstees will aim to maintain appropriate reserves in the future by careful budgeting and monitoring of income and expenditure. SEPTEMBER 2021 RESERVES POLICY It is not the policy of the Florence Nightingale Museum Trust to amass considerable financial reserves. The Trustees however do believe it is prudent that we mainlain a financial p051tion whereby we hold a minimum ot nine months, operating costs (approximately £350.OCtyJI. We believe this 15 in line with Charities Commisslon guidance. At 30 September 2021 free rèserves were £561,572 bein8 unrestricted net assets excludin8 unrestricted Heritage assets. We should also note that the Museum envisages a lar8e-scale capital PToject linked to its need to relocate within the next 5-8 years. 11 would iherelore be beneficial if ihe Museum is able io retain some funds for the purpose of supportlng thi5 aim. notably supportin8 consultancy fees and match fundin8. Tht5 policy will be reviewed on an annual basis. The Trustees particularly note th• risk5 of decreased visitor markets. which remains an atknowledged risk given our core audiences of nurses. fore$8n tourists ènd school children. The Trustees also note the risks of belnglgcated on a hospital 51te in central London. whith is rèliant upon public tran5POrt. and feel this is further lustllScation for the holding of rerVeS whilst new variants of covid contintje to emerge. GOING CONCERN After making appropriate enquiries and aftèr ¢areful consideration of the Charity's reserve Position labovel and after cash flows and commitments. includin8 the current redundoncy process and cost.cuttin8 measures, the Trustees have a reasonable expettation that the charitable company has adequate resources to continue in ope¥ational existence for the foreseeable luture. For this reason. they continue to adopt the going concer basis in preparing the financial statements. Further details re8ardln8 the adoptlon of the 80in8 concern basls can be found in the Accountin8 Policles. INVESTMENT POWERS AND INVESTMENT POLICY Subject to the overridin8 prowsions of the Trustee Acts. the Charity has the power lo make any investments which the Trustees see fit. The Charity currently hold5 two f¢xed asset inve5tment5. one with Sarasin & Partners LLP and one with BNY Mellon Fund Managers Ltd. The funds invested originate from a flm 8rant rnts5t generously given by the Perseverance Trust in 2016 to establish an endowment. The investment is held for its returns, and it is not the Trustees policy to pur£ha5e or sell investments on a regulai basis. PAY POLICY FOR STAFF All staff pay reviews are generally subjert to approval from the Board of Trustee5 and any increases are subject to available funds and our business POSltion_ The Trustees recognise that they need to be competitive to retain key staff, particularly given the aftermath of the pandemic, Inflation in salaries and the current cosl of living trends. We need to bear in mind the challenges losing key staff and their knowledge and netWOTks will present to the Museum given our current priorities, notably the need to lundraise, maintain awarded grants. continually review all activities and structures. and
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 review and further develop the proposed development plan, includin8 seeking altemative accommodation and building relevant partnerships. The need to maintasn Some continuity of staff is notable and understood. Trustees had committed to considering elements of performance related pay for exceptional performance and achievernent sn the previous financial year and will continue to explore this. They will also benchmark salartes against the Museums Associètion's pay guidance. whilst observing market trends and forces. Any such payment5 would be subject to Boafd approval and the recommend3tions ol the Chair. Followlng Its necessary involvement with the'furlough scheme, the museum has become o London Llvlng Wage employer and will seek to maintain this position. despite the increase in costs this presents to the bottom-llne, recogni5ing its moral obligations to staff. RELATED PARTIES AND CONNECTED ORGANISATIONS The Florence Nightingale Museum is located within the site of St. Thomas. Hospital. The Guy's and St Thomas, NHS FoundatSon Trust Is iepresented by a Trustee but it does not have powers to nominate Trustees. FUNDRAISING The Florence Nightingale Museum is a small charity with no fundratsing team. The Trustees endeèvour to support the Director who lead5 on this responsibility antl we will continue to explorè Options regarding how we 5UPPQrt thls imporrant challen8e further in the corning months, as our staff structure continue5 to evolve. It 15 notable that the efforts of our Director and the team in this area have been exceptional with over £1.2M Secured in grant aid and personal gifts donations since luty 2017. The Museum remains keen to explore the ran8e of opportunities that will allow It to increase income including comrnercial revenue, Brani aid. donatlons and commercial sponsorship. In the post pandemic world the Museum is particvlarly seeking how new income stream5 can be devèloped ihat are less reliant upon on 51te visitation, buildin8 upon the impressive work to dale. In considering bud8et5 the Trustees have been careful to leave room lor Investment in emerRinÉ opportunities from available funds, recognising that increased pressure on grant givin8 bodies is likely In the short term, w¢th funding more competitive to access. Currently the Charity does not make use ol professional fundraisers and ha5 received no tomplalnts in relatlon to fundraising practices during the period under review. VOLUNTEERS The Charlty receives help from volunteer5. Wlthout whom we would be unable to operate as SLFcces5fulSy. Volunteer5 assist the or8anlsatlon in many way5- the Trustees who set the strate8y for the trust, volunteers who assist in the managerial process and provide advice on HR, and the volunteers who support the events we create and deliver, both on site and di8ltally. During the past year over IW volunteers have been en8aged across the or8anisation. with considerable 5timulu5 to this bein8 driven by the short term .2020 Projett Officer; Volunteering and Cornmunity Engagement. role supported by the National Lottery Heritage Fund, a Tole that ha5 been retained with the support of the'People's Postcode Lotterv.
FLORENCE NIGHTINGALE MUSEUM TRUS[ TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 RISK MANAGEMENT The Trusiees confirm that they have identified and reviewed the major risks to which the Charity is exposeij and havE established 5y5tems to mitigate those risks. Specifically they include.. Ensuring and operating sustainability within a changing economit environment. particularly in light of the impact of COVIO-19 on the Museum's operations A lean operattonal support model able to effectivety and efficiently deliver Museum 8rowth Data protection. prSvacy and secvrily ol user daia Protection of the collection and ACE Accredited museum status Re8ular monitoring of shorr term cashflow and long term fund¢n8 of the Charity GUARANTORS The Trustee5 are the Members of thè Cornpany which is limited by guaran¢ee. In the event of winding up, the Ilabilily ol each member is limited to El. TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparln8 theTrustees' Report ond the financial statements In acEordance with appllcable law and United Kin8dom Accountlng standards Iunited Kin8dom Generally Accepted Accounting Practice) In¢ludin8 FRS 102 The Flnanclal Reporting Stondard appllcable in tht UK and Republic of Ireland,. Charity law requires the Trustees to prepare finantial statements for each financial year which 8ive a true and fèir view of the state of affairs of the Charity and of the income and expenditure ol the charitable company for that period. In preparing the financial statements. the Trustees are required to.. select suilable accountin8 policies and then apply them consistenilv,. observe the methods and principles of the Charitie5 SORP,. make judgements and estimates that are rèasonable 3nd prudent- state whether applicable UK Accounting Standards have been followed. subject to any material departures di5c105ed and explained in the tlnancial siatements: and prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the company will continue in busine55. The Trustees are responsible for keeping adequate accounting record5 that disclose with reasonable accuracy at any time the financial p051tion of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeRuarding the as5et5 01 the Charity and hente taking reasonable steps for the pievention and detection of fraud and other irregularities.
FLORENCE NIGHTINGALE MUSEUM TRUST TRUSTEES, REPORT FOR THE PERIOD ENDEO 30 SEPTEMBER 2021 The Trustee5 are respL¥nsible for the maintenance and integrity of the corporate and financial informatlon included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial staternents rnay differ from legislation in otherjuri5dictions. SMALL COMPANIES EXEMPTION The above report has been prepared in accordance with the special provisions of Part 15 01 the Companies Act 2006 Telating to small companies. This report, iniorporating the Strategic report. was approved by the Trustees, in their capacity as companv directors, on signed on their behalf bv.. Dame C Beasley CBE hair J Car asurer io
Independent Examiner's Report to the Trustees of The Florence Nightingale Museum I feport to the charity trustees on my examination of the accounts of the Company for the period ended 30 Sèptémber 2021. Responsibilities and basi$ of report As the charity trustees of the Trust you are responsibl& for the preparation of the a¢counls in accor(lance with the requirements of Ihe Ch8rilies Act 2011 llhe Acl'l. 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 feport in respect of my examination of your charills accounts as carried out under seclion 145 of the Charities Act 2011 Ilhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Indopendent examlnerfs statement Since the charity's gross incomè exeeeded £250,000 your examiner musl be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of the Inslilule of Chartered Accounlanls in England and Wales, which is one of the listed bodies. I have Mpleted my examination. I confirm that no mallers have come lo my atlenlion in connection with the examln8tlon giving me use lo believe.. accounting Tecords were not kept in respect of the Charity as required by section 130 of the 2006 Act,. or 2 the aceounts do not accord with those records., or 3 the accounts do not comply with Ihe accounting QUIrementS of sèction 396 of the 2006 Act other than any qUIreMent that the accounts give a 'true and fair view which is not a matter consideied as part of an independent examination.. or 4 the accounts have not been prepaied in accordance wlh the methods and principles of the Slalements of Recommended Practice for oecounting and reporting by charities. I have no concems and have come across no other matters in connection wth the examination to vthich attention shoul(5 be drawn in this report in order lo enable a proper undefslanding of the accounts lo be reached. Oly& K ' L(P James Cross For and on behalf of Mooro Kingston Smlth LLP Charteied Accountants Devonshire House 60 Goswell Road London EC1M 7AD Dale.. 16 May 2022 li
THE FLORENCE NIGHTINGALE MUSEUM TRUST ILirrrited by guarantee) STATEMENT OF FINANCIAL ACTIWTIES for the Perlod Ended 30 Se tember 2021 Totsl Period ended 30 Sept 2021 Total Total Year ended 31 Narch 2020 Total Unrestricted Resln"cted Note Income from.. Donations and gran15 Charitable a¢vitieS Investment income Other trading inccrne 226,682 37.556 13S 263.866 388,050 614.732 37.556 50,833 283.866 131.976 309.175 30,417 145.599 50,698 Total Incorn8 and Endowrn•nts 528.239 438.748 986.987 17,167 Expendilurv on.. R8ising lunds ChHrilabie activi85 72.450 67,674 22,450 523.306 78,659 501,197 455,632 Total expendlture .124 455.632 579 856 N•t Ineom•llexpendlturel 438,115 116,8841 421,231 37,311 Tran•ler8 behveen fund other recogn18ed gain$lllos•¢sl Net galns on Investments 13 304.895 304.895 179,8591 N•t mov•m•nt In fund• 43&,115 286,011 726.126 142,5481 R•¢¢n¢lllatlon ¢f funds.. Total funds brought forward 132,207 1,322,847 1,455.054 1,497,602 Total fund• earrl•d f•rt¥•rd 570 322 1610 858 2181 180 1 455 054 12
THE FLORENCE NIGHTINGALE MUSEUM TRUST BALANCE SHEET AS AT 30 September 2021 2021 21J20 Note Flxed Assets Tangibl& 3ss8ts Heritage assets Investments 12 12 13 105,746 1.431487 105,746 1.126,592 1,537,233 1,232,338 Current Assets stock Debtors Cash at bank an¢J in hand 15 14 30,648 192,965 451,943 30,648 17,629 252 565 675.556 300,842 Credltors.. amounts falllng due wlthln one y•ar 16 31,610 78,126 N•t Currgnt As$ot8 643 947 222,716 Net Assets 2 181.180 1,455,054 Charity Funds Restricted funds Unrestricted fund¥ 18 18 1,610,858 570,322 1,322.847 132.207 Total Funds 2.181.180 1.455,054 The charity's financial statemen15 have been prepared in accordance vAlh the provisions applic8ble to companies subjèct to the Small companies regime. The financial slalemenls were approved and aulhorised for issue by the Tru51ees on lo.. A.y....2o.6.Z..and si9ned on their behalf by.. Dame C Beasley CBE Chair surer The notès on pages 15 to 26 form pari oflhese finanaal statements. 13
THE FLORENCE NIGHTINGALE MUSEUM TRUST Statement of Cash Flows Period ended 30 September 2021 Note 2021 2020 Cash flows from operaling activities.. Net Cash (used in)Iprovided by operating activities 20 148,545 42,297 Cash flows from invesling activities: Dividends and interest from investments 50,833 30,417 Net cash provided by investing activities 50,833 30,417 Change in cash and cash equivalents in the year Cash and cash equivalents bought foNard 199,378 72,714 252,565 179,851 Cash and cash equivalents carried foward 21 451,943 252,565 14
NOTES TO THE FINANCIALSTATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Accounting Policies Basis ol preparation of financial ststements The financial staternent5 have been prepared in accordance with Actounting and Reporting by Charities.. Statement of Recommended Prèctice applicable to charities preparing their accounts in accordance with the Finantial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151- (Charities SORP IFRS 10211. the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The charity has prepared the financial statements for an 18 month period. however the comparative arnounts are presented for a period of 12 months. Therefore the amounts presented in the financi31 statements are not entirely comparativè. The change in year end from 31 March to 30 September was made in order to revise the Articles of Association. Florence Nightingale Museum Trust meet5 the definition of a pvblic benefit entity under FRS 102. As5et5 and Ilabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. Company status The charity is è company limited by guarantee registered in England and Wale5, company number 02246583. Its registered office address is Gassiot House, 2 Lambeih Palace Road, London, SE717EW. which is a150 It5 principal place of operation. The principal activity of the charity remains that of running a museum. The members of the company are the Trustees named on page l. In the event of the charity bein8 wound up, the liability in respect of the guarantee is limited to £1 per member of the charitv. The presentation currency is GBP and all amounts have been rounded to the nearest £. Going concern The financial statements are prepared on a going concern basis which assumes that the charitable company will continue in operational existence for the foreseeable future. Ourin8 the period, the charity incurred a gain of £726,12612020.. deficit of £42,548). This is after taking into atcount unrealised gains of £304,895 12020.. unrealised losses of £79.8591, before which the surplu5 would have amounted to £421,23112020.. surplus £37,311). Due to the unrealised nature of the gain5 and losses on the charity's investment portfolio, the trustees consider the latter figure as key to understanding the financial performance of the charity. The trustees have revlewed the financial forecasts taking these factors into account for a period of at least twelve months from the date of approval of these financial statements. These show that the charity has realistic expectation of meeting its liabilities as they f311 due and the trustees are satisfied that the assumption5 on which they are based are reasonable. Accordingly. they continue to adopt the going concern basi5 in the preparation of the financial statement5. Income All incorne is recognised once the charity has entitlernent to the income, it is probable that the income will be received, and the amount of incorne receivable can be measured reliabty. 15
NOTES TOTHE FINANCIALSTATEMENTS FOR THE PERIOD ENDED 305EPTEMBER 2021 l. Accounting Policies Icontinuedl Expenditure Expenditure is recognised once there is a legal or construrtive obligation to transfer economic benefit to 3 third party, it is probable that a transfer of economic benefits will be required Settlement and the amount of the obligètion can be measured reliably. Expenditure is classified by act5Vity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity 3nd support costs which are not attributable to a s%ngle activity are apportioned 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 a15ocated on the portion of the asset's L45e. Support COSts (museum governance) are those costs incurred directly in support of expenditure on the objects of the charitv. Expenditure on charitable activities are costs incurred on the charity's educational operations, Sncluding support costs and costs relating to the governance of the charity apportioned to charitable activities. Tanglble flxed assets and depreclatlon All assets costing more than £5,OC4) a capitalised. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. DepreciatSon Is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings Office equipment lower of the remaining lease term or 10 years on a straight-line basls 4 years on o straight-line ba515 Office equipment Herlta8e assets- capltallsed Heritage assets that are capitalised comprise Florence Nightingale's owl and a series of paintings acqulred at cost in 2013. Herlta8e assets - not capltalised Heritage assets that are not capitèlised tomprise the Trust's collertions of 'Nightingalia' and associated artefacts, including letters, documents, personal effects, uniforms, artworks and other items which were largely collected by Dame Alicia Lloyd-slil, former Matron of St Thomas, Hospital. Further detai15 concernin8 the nature and extent of the collection are provided on the Mv5eum'5 website. No value is attributed to the collections as reliable historical cost information is not available and due to the uniqueness of much of the collection, conventional valuation techniques are either not appropriate or cannot be obtained at a cost commensurate with the benefit that Tnight be derived by users of the accounts. Therefore the trustees have adopted a non-recognition approach a5 pennitted by FRS 102. Expenditure on preservation and restoration of the collection is written off in the Statement of Financial Activities as it is incurred. 16
NOTES TO TH£ FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 SEPTEMBER 2021 l. Accounting Policles Icontinuedl The Trust's collections were18rgely assembled by Dame Alicia Lloyd-still, who diligently gathered items brought to St Thomas, Hospital during the early twentieth century. as the adoring British public recognised this to be the site of Nightingale's first training School for nurses and wished to celebrate her life and achievements. In 1989, the Florence Nightingale Museum Trust was forrned to care for the collections, recognising the need for museum expertise to administer recognised collecting standards and fully harness public interest and educational potential. Unique to the UK, as the largest collection of nursing themed items, the collection h3s many exhibits of both quality and sentimental value. As Nightingale 15 regarded as the founder of the nursing profession. whose work is Still highly relevant today, the museum receives research enquiries and visits from the general public and from both the UK and global audiences. Nightingale is also recognised a pioneering statisticlan and campaigner, as well as a leadlng female iton. The exhibits assembled by Lloyd-still have been supplemented occasionally with a small number of additional donatlons, most tommonly reflecting Nightingale's legacy within the nursing profession. The museum's collection of Nightingale's letters are largely held by the London Metropolitan Archive in order to facilitate public access. Further details of the nature and extent of the collections are available on the Museum's website http.'//www.florence. nlghtin8ale.co.uk The definition of numbers in a collertion is fairly arbitrary as single items accessioned may comprise a wlde range of artefacts, components or supporting papers. However, this Ilst reflects how they are accessioned in museum records. Category Estimated Number of items at 30 September 2021 Letters Photographlc materla15 Books & printed materials Textiles & uniforms Furniture, ceramics & others objerts Artworks & prints Metal work & jewellery 330 240 9CM) 80 loo 150 150 Herltage as5ets- Acquisitions and disposals poli The collections are very much the work of one family and it is rare for the Trustees to make acquisitions or disposals of objects from the collection unless the Trustees are satisfied that this does not detract from the integrity of the collection. There is a strong presumption against the disposal of any accessioned items in the Trust's collection except for sound curatorial andlor collections management reasons. There have been no material atquisitions or disposals since April 2010. 17
NOTESTO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Accounting Policies Icontinuedl Heritage assets- Collections management The trustees. primary objective is to safeguard and develop the collertions so that they can be made as accessible as possible now and in the future. This objective is delivered through programmes of displays, events. publications websites. fièldwork. resèarch. documentation and collection5 care. Objects from the collection are either displayed in the museum and on our website, or made available via loans to third parties, or else they are held in our collections Stores for research and future use. Heritage assets- Storage and care The collection is displayed and stored according to recognised international standards for the prevention of material deterioration. Library and archive storage facilities and exhibitions are based upon and informed by the requirements of BS 5454 and The National Archives Standard for Record Repositories. Herltage a5sets- Documentatlon Objects in the collection are documented in accordance with Arts Council England requlrements and SPECTRUM. The Trust will.. have secure title to all objects In the collection; hold basic data on every object so that it can be uniquely identified and the collection audited regularlv; ensure records relatin8 to objects in the collection are enhanced and made available to audiences where appropriate. Non Incluslon of Herltage Assets In the Balance Sheet In the Opinion of the Trustees, reliable infom)ation on cost or value is not available for the Trust's collections acquSred prior to April 2010. This is owing to the lack of reliable information on pvrchase cost; the lack of comparable market V31ues,' the diverse nature of the objects.. and the volume of items held. In the Trustees, oplnion, conventional valuation approaches lack sufficiently reliabllity and any valuation Is likely to incur significant cost and a time commitment that is likely to be onerous. Even if valuations could be obtained the cost would not be commensurète with any benefits to the Museum management, turatorial staff. the public, or user5 of the financial statements For this reason, the Collections which were almost entirely gifted to the Trust at nil cost many years ago, and are Incomparable in nature, are not recognised as assets in the Trust's Balance Sheet. Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction Cost and subsequently measured at fair value at the 8alance Sheet date. unless fair value cannot be measured reliably in which case it is measured at eQSt le55 impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading'Gains/l105sesl on investments, in the Statement of Financial Activities incorporating Income and Expenditure Account. 18
NOTESTO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 l. Accounting Policies Icontinuedl Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably bv the charity,. this is normally upon notification of the interest paid or payable by the Bank. stocks Stocks are valued at the lower of cost and net realisable value after making do allowance for obsolete and slow-moving stotks. C05t includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtor5 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. Accrued Income in this period is made up entirely of an Insurance claim in relation to a loss of income in connection directly or indirectly with the Covid-19 pandemic for the period 6" March 2020 to 5, March 2021 and was received in October 2021. Cash at Bank and In hand Cash at bank and in hand includes cash and short term highly liquid investment5 Wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Llabllltles and provlslons Liabilities are recognised when there is 3n obligation at the Balance Sheet date as a result of a pèst event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipate5 It will pay to settle the debt or the amount it has received as advanced payments for the goods or services It must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Financlal Instruments Apart from its investments. the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and Subsequently measured at their settlement value with the exception of bank loans which are subsequentlv measure(i at amortised cost using the effective interest method. Fund accounting General fund5 are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are fund5 which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administerinB such fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment ineome, gains and losses are allocated to the appropriate fund. Redundancy and termination payments Redundancy and termination payment5 are included in the statement of fi.nancial activity as and when paid. 19
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERf•D ENDED 30 SEPTEMBER 2021 Income from Donations and Grants Totsl Pthiod Ended 30 September 2021 Total Year Ended 31 Nlarch 2020 RestrKI Donaiions Coronavirus JRS Grant Grants 131.271 65.411 30.0 131.271 65,411 418,050 11.429 120.547 Total Ounalions 38B 01 614 732 131,976 For ihe year ended 31 March 2020 there were £120.547 granis. Inc¢m fmm Ch8rftabl• •GlIlIe Total Perlod ended 30 Septernr 2021 T¢ial Year Ended 31 March 2020 Museum o Jseum Hire Admission$ 2,427 240,860 18.626 1&626 School adm1sOn8 OLrtreach edUCaLIn in¢¢m• 2.838 16.092 2,838 16,092 49,979 18,109 37.556 309 175 Totsl P•rfod End•d 30 S•pt•mb•r 2021 Taiel Year Ended 31 March 2020 UnrutrK¢•d R•51rK¢ Inveslmeni inr¥Jrn8 135 50,133 30.417 135 FC Ihe ye8r 8nded 31 March 2020 8s £30.336ofr88trKi8d $1Ml I#. OthET trndlng Incom• Total P•rlod ended 30 Sept•mber 2021 To181 Y•8r Ended 31 M8rch 2020 Shop sBles Reproduction (1$ & Roya0$ TolkslEven15 Income Book of Honour Patron Incomemal of Honwr Qlher Income- Insurarwcb Mi5celL%neous IrKotne 49.609 28.273 2.422 2,1 139,772 3.080 513 1.144 2,000 28.273 2,422 2.100 175.306 6,154 17S,30B 6,154 263,866 263,866 145 599 20
THE FLORENCE NIGHnNGALE MUSEUM TRUST NOTES TO THE FINAACIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 Total Perlod Enled 30 Septsmb8r 2021 Year Ended 31 M8rch 2020 Raisiny funds Unrestricted Restrlcted Publipty Support costs lrnie 81 Shop wrchase5 401 600 21 449 22,450 18,058 410 60.190 21.449 22.450 Total Pthod Ettd•d 30 Sept&mbei 2021 To1 Year Ended 31 March 2020 Charft•bl• a¢t1vI•1-ThU¥ern op•rotlon Restricted Si8if Costs Staft Ir8ininglCcrf8renc88 Irrecoverable VAT Edvcalion Iljlreach E¢Jue4ott Cos11 ProlÉc15 Website Experrtes Premises cos15 E Museum M8ini¢nan¢o OfficelMu$wm Equirx))enVSW Travel Cdlection rnryemenl Doprecialic R1¢18d granl oxpendrtw• Support £05ts Inoi• 81 32,074 433 16.0351 80 313,624 345,698 433 16,0351 238.959 299 21.528 3,955 13,906 48,972 995 17,999 4,487 3,678 453 27,968 16,019 70,169 33,810 505 7.134 7.134 800 2,432 267 2,432 267 11YJ 142.C 142.008 29.612 29,612 For the ye•r efid•d 31 M•r¢h 2020 th•r• *•$ £116.524 ol mlrided •xpoTrJitw•. 21
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED JO SEPTEMBER 2021 Period Ended 30 September 2021 Year Ended 31 March 2020 Support C08ts Charitab actlvitie8 Raising funds Pnnlin9 and stslionery T818phone and p05tsge Computing anking costs Gen8ral tnisGellaneous costs Insurance Legal fees Fundraising consuhancy Governance 1.209 1,740 8.788 3,220 13.5761 10,086 396 .209 1.740 8.788 3.220 13,5761 10.086 396 2,226 2,468 5.706 9.533 348 6.719 7.749 7.749 7.220 29.612 30.212 34.220 Taxatlon The eham18blts ¢¢ynpahy 15 exempl Irorn COOr80 lax a5 all is thwil8b aTrJ is aFf4ied for chamabl? purrKs. Nel Incom•llExpendlturo1 Perfod Ended JO S•ptamb•r Yw Ended 31 Marth 202Q 2021 Th15 Is st8l•d 8rtw charglng. Depreciation Independent Eyarniner5'12020.. Audltors'l ramLmralty Other 88pAces- pa1 Pensi cost5 16,019 7.220 955 6.86YI 4.200 1,650 8.758 During th8 year, no TTU8lee received any reNnoralNy)12020- £NILI Dunng the year. no TnJ5tee received any benefits in kind 12020- £NILI Duiing the year, no Tru81ee received reimbursement ol exponse$12020- £NILI 11. Staff c08ts Perlod End•d 30 Septevnber 2021 Year End 31 March 2020 Staff costs We as lollm.. S818ries and wag85 Social seGLJrity CQ$15 Staff Ppnsi$ 315.526 21,414 250.607 17,263 6,890 274,760 345.698 The average number (pefsMs em0>% bythe tharity dwTrJ the year was a5 follow5". 2021 2020 12 Average headcount ewessed as a fu1lIme equivaknt.. No. 22
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021 No employee earned more than .(m)D duriry Ihe 18 rr period. Key Management comprises the Irus18es, the Mus8um Direeity. A8Si%tant DiredS_' Leaming & Community Engagernent and V15ilor Eyrience & Comrrerual Develjpmenl (to March 20211. and Finance Manager. The totsl rernuneraiion of key management dunng the period %Yas £182.39512020". £122.8%1 Included in the wage5 end sabrie5 figure of £315.52612020.. £250.60718re redundancy payments of ,152{2020.. £5.1201 In regards 10 5tsff mernbers whose 8mployméni w8S temiinaied dur?ng the year. 12. Tanglble Ilxd as59ts Heritago Asset Flxtur•s a Offlc• Ftttings Equlpment Total COST At 1st Aprll 2020 la5.746 844,052 4.820 954,618 ADDITIONS At 30 September 2021 105.746 OEPRECIATION At 1st April 2020 Charo8 for Ihvt year 844.OS2 4,820 848,872 At 30 Sept8rnb8r 2021 NET 8QQK VALUE At 30 Septernber 2021 10S.746 At 31$¢ M8r¢h 2020 IOS 746 105746 All langitrA8 fixed ast& ore d to Iho charW$ ci)jKts. t3. Flx•d a•s•t Inv•stm8nts Llstad S•¢urlth8 Market value At 1 April 2020 Revalu8ts¢ns 1,126,592 304,895 At 30 Septernber 2021 1,431,487 Invoslmenls al mathet va ccrnfv.. 2021 2020 Li51ed inve5trnent5 1,126,592 14. Debtorn Perlod Ended 30 September 2021 Year Ended 31 March 2020 Trade Oebtcrfs Prepayrnents Accrued Insurance claim 8.239 9,418 175.308 10,261 7.368 192,965 17,629 The insurance claim was outStandirvJ ai 30 September 2021 Irecwed Octoter 3)211 23
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TOTHE FINANCIAL STATÉMENTS FOR THE PERIOD ENDEO 30 SEPTEMBER 2021 15. Stock Perio(l End•d 30 S8pièmber 2021 Year Endeé 31 March 2020 Gfft Shop stock 30.648 30.648 16. Crodltot¥ '. Amounts lalllnq wlthln one y•ar Period Ended 30 September 2021 Yèar Endèd 31 March 2020 Trade Creditors Taxation and 81 secunty Olher creditors Accmals 11117 3.513 1764 11216 14,643 4,897 6,939 51,647 31.610 17. Fln•nclal Inotrurn•nts Perlod End•d 30 September 2021 Year EftdBd 31 March 2020 Financial aBsets meaBur•d al falr value Ir0ah Income and experKlilure Fin8n¢al assets mea$uwd ai •mortA•d cosi 1.431.487 8.239 1,126,892 10,261 1 439 726 1 136 8S3 Finaneiol Ik8bililie5 measured al amortised cosl 73 229 Fln8ncial assets measured ai fair value Ihrough incc4ne and expenditure ¢thnpn5e fixed •sset investments. The f8ir value is delerrnined by reference to the investmenl 110$ Flnanclal 888818 measured at aMOrt cost coWse irnde and Jhef debth. Fin4naal Ilabililie5 measured at arnortised cost o)Trylse c¥8ditors exling nts to HMRC. 24
THE FLORENCE NIGHTINGALE MUSEUM TRVST
NOTESTOTME FINANCIAL STATEMENTS FOR THE PERIODENDED 30 SEPTEMBER2Q21
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THE FLORENCE NIGHnNGALE MUSEU¥ TRVST NOTES TOTHE FWANCIAL STATEMEFITS FOR THE PERIOD ENDEO 30 SEPTEMÈER2Q21 And11 ofn•t a58èts Tlb flxed Assets FIA8d asset 1nvgstrn1S Herrits9e CuEniO&ts cred110 th01h1n t¢ 1.431.487 1.431.487 105.746 675.557 7$0 593.182 62.375 2 161.180 R•condll•tlon ofn•t Mov•Tht lo n•t rnhfftdwlw 2021 N•t eyndrture furihe PBDf*J luper Slatr4r•nl alFrAlGi) rn,126 ¢42.Y81 Adiustrilniftsr. Depretyouon ch•rg Lo57eI90lnI IrhwJstrnBnts 1304.895) (50.633) 78.859 (X),4171 113,3331
0.973 5.734 Ilncr•ègoiid4cièasè in ito¢k Ilncloa•vdecr3• In debtori InueaMIIoecieal In 117S.338} 146.$17 Nei cash luied Inywaded bycw4ty 21. An4tyYlJ of¢iih ind c4Ah •qth•lwt• )1 KW¢h 2020 2021 C4ih Ai bAnk ènd In hand PDS11 Dccount5 201.783 1S7.1 145.540 107.025 TiJl 451.943 22. M•mb•r•' 1111411ty fathmumbBr oltha mprry t•#ter4rtsIDIM lA t4thÈ È a membÈr. Such amount a may oe nexCe¢dfft9 El dÈbts and hBbIlltÈS£Or)iiact belornthgy c43se a member. R•lptsd P•rtytr¥n•Vlty There wern no rOted partytran5ciKrn dunryihe>•¥Lifwrth *1 11. 24. P•n•kn ¢ornmitypents 26