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|INDEX||
|---|---|
|Trustee's
Annua
I Report|Pages 3 —9|
|Directors, Officers and Management|Pages 10-11|
|Independent
Auditors'
Report|Pages 12 - 14|
|Statement
of Financial Activities|Page 15|
|Consolidated
Balance Sheet|Page 16|
|Charity Balance Sheet|Page 17|
|Consolidated
Statement of Cashflows|Page 18|
|Accounting
Policies|Pages 19-22|
|Notes to the Financial Statements|Pages 23 - 34|
|Thank You|Pages 35 —37|
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|Edward BayntunCoward
CHAIRMAN||1,2,4|Owner ofGeorge Bayntun, antiquarian
bookbinders
and
booksellers.
Deputy Lieutenant ofSomerset.||
|---|---|---|---|---|
|Francesca Beauman
VICE CHAIR||2,4|Writer, historian
and television
presenter.
World's leading expert
on the history ofthe pineapple.||
|Angela Gillibrand
TREASURER &COMPANY|||Vice Chair ofthe Holborn Estate Charity, non-executive
director of||
|SECRETARY|||the Rethink Trust Corporation.||
||||Senior private equity and corporate finance practitioner.
Trustee||
||||of Iford Arts, the York Minster Fund, the Dr Martin Clarke Young||
|Dr Martin Clarke|||Organist Scholar's Trust. Member ofthe Advisory Board of St||
||||Mary's
University
Business School. Member ofthe Campaign||
||||Committee ofthe Museum of London.||
|IVIagdalen
Fisher|||Independent
arts consultant
supporting
the imperial
Health Charity
on its arts committee,
and arts adviser to the Alzheimer's
Society.||
|.Sandra Forbes|||Senior banking
and corporate lawyer.||
|Jeremy Garfield-Davies|||.Advisor to historic houses, private collections and museums
Britain and USA.|in Asia,|
|Sukie Hemming|||Former roles at British Museum
and National
Trust. Currently
Trustee of Chelsea Physic Garden.||
|Caro Howell|||Director of Foundling
Museum,
London. Co-chair ofWomen||
||||Leaders
in Museums
Network.||
|Mark Humphriss|||Diocesan Secretary (CEO) Diocese of Oxford; Vice-Chair,
Designa bility.||
|Charlotte
Murphy|||Currently
Head of Retention at the National
Trust, Charlotte|has|
|(appointed
2July 2021)|||spent over 20years in Marketing
and Strategy planning.||
|Oluwatosin
Onile-Ere-Rotimi||3|Contemporary
African artspecialist.||
|Dr Andrew Salmon|||Nominated
Trustee, Bath Spa University.||
|Dr Chris Stephens|||Director ofThe Holburne
Museum||
|Rohan Surana (appointed
3February 2022)|||Currently
the Director ofOperations
for the School of
Management,
University of Bath, Rohan has worked
internationally
in strategic and operational
roles.||
|Committee
Membership|||||
|1-Finance, Audit &Investment||Committee
2 - Fundraising
Committee|||
|3- Learning &Engagement|Advisory Committee 4- Nominations
Committee||||
##
|James Eastman|Retired 27 April 2021|
|---|---|
|John Barneby|Retired 2 July 2021|
|Sarah Flannigan|Retired 2July 2021|
|Desmond
Shaw-Taylor|Retired 2 July 2021|
##
|Solicitors||Stone King, Upper Borough Court, Upper Borough Walls,|Bath BA11RG|
|---|---|---|---|
|Auditors||Moore, Chartered
Accountants
S.Statutory Auditors, 30|Gay Street, Bath BA12PA|
|Investment|Managers|Heartwood
investment
Management
No 1Kingsway
London WC2B 6AN||
|Insurance|Brokers|Jelf Insurance
Brokers Ltd 1Crescent Office Park, Clarks|Way, Bath BA2 2AF|
|||Blackwall Green, The Wallbrook
Building, 25 Wallbrook,|London
EC4N 8AW|
|Bankers||CafBank Ltd, PO Box289,West Mailing,
Kent ME19 4TA||
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##
|OR THE YEAR ENDE|D 31DECEM|BER 2|021|||||
|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total Funds|Total Funds|
||||Funds|Funds|fund|2021|2020|
|||Note|E|||f|E|
|INCOME||||||||
|Grants and Donations|||806,877|217,814|35,000|1,059,691|1,256,696|
|Income from charitable
activities|||358,030|7,781||365,811|534,078|
|Other trading activities|||232,116|||232,116|207,539|
|Income from investments:|bank interest||62|||62|352|
|Other income|||14,229|||14,229||
|Totallncome|||1,411,314|225,595|35,000|1,671,909|1,998,665|
|EXPENDITURE||||||||
|Expenditure
on raising funds||5|(66,337)|||(66,337)|(85,839)|
|Investment
managers
fees||13a|||(49,138)|(49,138)|(39,010)|
|Expenditure
on charitable|activities|6/7|(1278600)|(365520)||(1g644~120)|(1361609)|
|Total Expenditure|||(1,344,937)|(365,520)|(49,138)|(1,759,595)|(1,486,458)|
|NET INCOME/
(EXPENDIT'URE)||9|66,377|(139,925)|(14,138)|(87,686)|512,207|
|TRANSFERS BETWEEN FUNDS||||||||
|Total Asset Return transfer||16|270,905||(270,905)|||
|Special Acquisitions
Fund||16/17||(920,000)|920,000|||
|transferred
into Capital||||||||
|Avon Pension
Fund transfer||16/17|(592,000)|592,000||||
|NET INCOME/(EXPENDITURE)|AFTER TRANSFERS||(254,718)|(467,925)|634,957|(87,686)|512,207|
|Gain on investments||13a|||328,421|328,421|299,320|
|Actuarial
gain / (loss) on|defined|||||||
|benefit pension scheme||20|211,000|||211,000|(357,000)|
|NET MOVEMENT
IN FUNDS|||(43,718)|(467,925)|963,378|451,735|454,527|
|FUND BALANCES BROUGHT FORWARD|||735,267|8,994,128|2,346,060|12,075,455|11,620,928|
|FUND BALANCES CARRIED FORWARD|||691,549|8,526,203|3,309,438|12,527,190|12,075,455|
##
##
|AT31DECEMB|E|R2021|||||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total Funds|Total Funds|
||||Note|Funds|Funds|Fund|2021|2020|
||||||E|f|E|E|
|FIXEDASSETS|||||||||
|Tangible fixed assets:|||||||||
|Freehold Property:||The Museum|11|550,000|7,033,452||7a583+52|7,810,888|
|Other assets|||11|132,503|501,859||634862|642,347|
|||||682,503|7,535,311||8,217,814|8,453,235|
|Heritage assets|||12||817,000||817,000|761,000|
|Investments|||13a|804,895||3,289,438|4,094,333|3,092,550|
|TOTAL FIXEDASSETS||||1,487,398|8,352,311|3,289,438|13,129,147|12,306,785|
|CURRENT ASSETS|||||||||
|Museum
shop stock for resale||||37,006|||37,006|28,225|
|Debtors|||14|118,285|||118,285|122,210|
|Bank balances and|similar|||280,755|173,892|20,000|474,647|981,886|
|||||436,046|173,892|20,000|.629,938|1,132,321|
|CREDITORS: Amounts|falling due||||||||
|within one year|||15|(258,895)|||(258,895)|(179,651)|
|NET CURRENT ASSETS||||177,151|173,892|20,000|371,043|952,670|
|NET ASSETS BEFORE PENSION DEFICIT||||1,664,549|8,526,203|3,309,438|13,500,190|13,259,455|
|PENSION FUND DEFICIT|||20|(973,000)|||(973,000)|(1,184,000)|
|NET ASSETS||||691,549|8,526,203|3,309,438|' 12,527,190|12,075,455|
|ENDOWMENT
FUND|||16|||3,309,438|' 3,309,438|2,346,060|
|RESTRICTED FUNDS|||17||||||
|Development
Fund|||||7,535,311||72535,311|7,762,748|
|Heritage Assets|||||817,000||817,000|761,000|
|Specific Purposes|Funds: Revenue||||173,892||' 173,892|142,380|
|Special Acquisitions||Fund||||||920,000|
|Less: Avon Pension||Fund deficit offset||||||(592,000)|
||||||8,526,203||8,526,203|8,994,128|
|UNRESTRICTED FUNDS|||||||||
|General fund|||18|691,549|||691+49|735,267|
|||||691549|8526203|3309438|12s527a190|12r075455|
##
|AT31DECEMB|E|R 2021|||||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total Funds|Total Funds|
||||Note|Funds|Funds|Fund|2021|2020|
|||||E|E|E|E|E|
|FIXEDASSETS|||||||||
|Tangible fixed assets:|||||||||
|Freehold Property:||The Museum|11|550,000|7,033,452||7,583,452|7,810,889|
|Other assets|||11|132,503|501,859||634,362|642,346|
|||||682,503|7,535,311||8,217,814|8,453,235|
|Heritage assets|||12||817,000||817,000|761,000|
|Investments|||13a|804,895||3,289,438|4,094,333|3,092,550|
|Investment
in subsidiary|||13b|100|||100|100|
|TOTAL FIXED ASSETS||||1,487,498|8,352,311|3,289,438|13,129,247|12,306,885|
|CURRENT ASSETS|||||||||
|Debtors|||14|231,865|||231,865|251,241|
|Bank balances and||similar||178,255|173,892|20,000|372,147|863,307|
|||||410,120|173,892|20,000|604,012|1,114,548|
|CREDITORS: Amounts|falling due||||||||
|within one year|||15|(233,080)|||(233+80)|(162,089)|
|NET CURRENT ASSETS||||177,040|173,892|20,000|370,932|952,459|
|NET ASSETS BEFORE PENSION DEFICIT||||1,664,538|8,526,203|3,309,438|13+00,179|13,259,344|
|Pension scheme deficit|||20|(973,000)|||(973,000)|(1,184,000)|
|NET ASSETS||||691,538|8,526,203|3,309,438|12+27,179|12,075,344|
|ENDOWMENT
FUND|||16|||3,309,438|3+09+38|2,346,060|
|RESTRICTED FUNDS|||17||||||
|Development
Fund|||||7,535,311||7+35@11|7,762,748|
|Heritage Assets|||||817,000||817,000|761,000|
|Specific Purposes|Funds: Revenue||||173,892||173+92|142,380|
|Special Acquisitions||Fund||||||920,000|
|Less: Avon Pension||Fund deficit offset||||||(592,000)|
||||||8,526,203||8,526,203|8,994,128|
|UNR ESTRICTED FUNDS|||||||||
|General
fund|||18|691,538|||691,538|735,156|
|||||691,538|8,526,203|3,309,438|12,527,179|12,075,344|
##
|FO|R THE YEAR E|NDED 3|1DECEM|B|ER 20|2|1|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Note|2021|2020|
|||||||||||f|E|
|Cash|flows from operating|activities||||||||||
||Net movement
in funds for the||reporting
period|||||||451,735|454,527|
||Adjustments for:|||||||||||
||Movements
in assets||Depreciation||oftangible||fixed assets||11|235+21|234,855|
||||Value of Heritage Assets||||donated|in the year|12|(56,000)||
||Movements
in investments:||Gains on investments||||||13a|(328,421)|(299,320)|
||||Investment|management|||costs||13a|49,138|39,010|
||||Dividends|and income||from investments||||(62)|(352)|
||Movement
in pension|reserve deficit|||||||20|(211,000)|357,000|
||Changesin:||(Increase)|in|stocks|||||(8,781)|(6,986)|
||||Reduction|in|trade and|other debtors||||3,925|82,130|
||||Increase /|(reduction)||in|trade and|other creditors||79,244|(122,907)|
||Net cash generated
from operating activities|||||||||215,199|737,957|
|Cash|flows from investing|activities||||||||||
||Funds added to investments||||||||13a|(722,500)||
||Dividends
and income from investments|||||||||62|352|
||Purchase oftangible assets||||||||||(15,999)|
||Net cash absorbed
by investing||activities|||||||(722838)|(15,647)|
|Net|(decrease) / increase|in cash and cash equivalents||||||||(507,239)|722,310|
|Cash|and cash equivalents|at beginning ofyear||||||||981,886|259,576|
|Cash|and cash equivalents|at end of|year|||||||474,647|981,886|
##
##
##
##
##
##
##
##
##
##
##
|7.Expenditure|on chari|table
activiti|es by activ|it|y type|||||
|---|---|---|---|---|---|---|---|---|---|
||||||Staff costs|Other direct|Support|Total 2021|Total 2020|
|||||||costs|costs|||
|Museum
activities|||||303,641|590,095|148,736|1,042,472|850,327|
|Learning activities|||||39,716|19,824|123,946|183,486|218,472|
|Exhibition|activities||||30,242|151,267|223,103|404,612|282,035|
||||||373,599|761,186|495,785|1,630,570|1,350,834|
|Governance
costs|||||||13,550|13,550|10,775|
||||||373,599|761,186|509,335|1,644,120|1,361,609|
|8.Analysis ofsupport||costs||||||||
||||||Museum|Education|Exhibition|Total 2021|Total 2020|
||||||activities|activities|activities|||
|Staff costs|||||38,596|32,163|57,894|128,653|80,112|
|Premises|costs||||81,470|67,891|122,204|271,565|167,498|
|Other administrative||costs|||28,670|23,892|43,005|95,567|92,444|
||||||148,736|123,946|223,103|495,785|340,054|
|9.Net income|forthe year|||||||||
|||||||||2021|2020|
|||||||||f||
|This is stated after charging:|||Depreciation||(note 11)|||235+21|234,855|
||||Auditors'|remuneration||Audit services||11,600|11,400|
|||||||Taxation services||1,100||
|10.Staff costs|and emoluments|||||||||
|||||||||f|f|
|Total staff|costs were as follows:||Wages and||salaries|||515,639|518,141|
||||Social security costs|||||46,689|38,312|
||||Other pension costs —defined
benefit|||||7,718|9,902|
||||Other pension costs —defined contribution|||||15,274|13,171|
||||Apprentice||Levy||||1,448|
|||||||||587,899|580,974|
##
##
|||Freehold|Fixtures &|Leasehold||
|---|---|---|---|---|---|
||||||Total|
|||property|Fittings|Property||
|||E|E|E||
|COST|At start ofyear|9,507,122|1,171,271|90,423|10,768,816|
||Additions
in year|||||
||At end ofyear|9,507,122|1,171,271|90,423|10,768,816|
|DEPRECIATION|At start ofyear|1,696,233|546,936|72,412|2,315,581|
||Charge for year|227,437|3,285|4,699|235,421|
||At end ofyear|1,923,670|550,221|77,111|2,551,002|
|NET BOOK VALUE|At end ofyear|7,583,452|621,050|13,312|8,217,814|
||At start ofyear|7,810,889|624,335|18,011|8,453,235|
##
##
##
|FOR THE YE|FOR THE YE|AR ENDED 3|1DECEMBER 202|1|||||
|---|---|---|---|---|---|---|---|---|
|13a.Investments||(The Group and|the Charity)||||||
||||||||2021|2020|
|Movement|in market value||Market value at start of|year|||3,092,550|2,832,240|
||||Funds invested
in the year||||722,500||
||||Net gains arising on revaluations||in the year||328,421|299,320|
||||Brokers management
charges||||(49,138)|(39,010)|
||||Market value at end ofyear||||4,094,333|3,092,550|
||||Historical cost at end of|year|||3p560~092|2 812004|
|Investments||are held as follows:|Handelsbanken
Balanced|Multi|Asset Fund|C|1,214,025|1,121,469|
||||Handelsbanken
Balanced|Multi|Asset Fund|I|2,879,969|1,970,743|
||||Cash held by Investment|Managers|||339|338|
||||||||4,094,333|3,092,550|
|Analysis of|investments||Endowment
Fund||||3,289,438|2,083,560|
||||Restricted: Special Acquisitions||Fund|||920,000|
||||Unrestricted
Funds||||804,895|88,990|
||||||||4,094,333|3,092,550|
##
|.Investments
-Subsidiary
Undertaking|.Investments
-Subsidiary
Undertaking|.Investments
-Subsidiary
Undertaking|.Investments
-Subsidiary
Undertaking||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|The charity owns the whole ofthe issued share capital||||of Holburne||Trading Company|Limited,|a|company
registered|in|
|England. The address ofthe principal
office is Great Pulteney|||||Street,|Bath, BA2 4DB.|Its principal||activity
is the operation of||
|the commercial|activities at the Holburne
Museum||and|a summary||of its results and|balance|sheet is provided
below:|||
||||||||||'2021|2020|
||||||||||f|E|
|Balance sheet||Assets|||||||192,907|191,981|
|||Liabilities|||||||(192,796)|(191,870)|
|||Capital and retained||reserves|||||||
|Profit and loss|account|Turnover|||||||549,581|546,424|
|||Cost ofsales|||||||(377,248)|(367,271)|
|||Gross profit|||||||172,333|179,153|
|||Administrative|expenses||||||(184+36)|(127,253)|
|||Other Income|||||||14,229||
|||Operating
profit|||||||2,126|51,900|
|||Interest receivable|||||||16|38|
|||Net profit|||||||2,142|51,938|
|||Distribution
to Holburne|||Museum||||(2,142)|(51,938)|
|||Result for the financial year|||||||||
##
##
##
|Disclosure ofTotal Asset Return|Disclosure ofTotal Asset Return|approach to investment|approach to investment|ofpermanent|endowment|endowment|||
|---|---|---|---|---|---|---|---|---|
||||||Trust for|Unapplied|Total|Tota I|
|||||Investment||Tota I Return|2021|2020|
|Balance at start ofthe period|||||||||
|Gift component of Permanent||Endowment|||2,300,947||2,300,947|2,038,447|
|Unapplied
total return||||||45,113|45,113|(350,631)|
|Tota I|||||2,300,947|45,113|2,346,060|1,687,816|
|Movements
in the reporting|period||||||||
|Investment
return: dividends||and interest|received||||||
|Investment
return: realised|and unrealised
gains|||||328,421|328+21|299,320|
|Investment
return:
investment||managementcosts||||(49,138)|(49,138)|(39,010)|
|Less: Unapplied
tota
I return|a|I located to income (979o)||||(270,905)|(270,905)|(252,501)|
|||||||8,378|8878|7,809|
|Donations
received for Endowment
Fund|||||35,000||35,000|262,500|
|Special Acquisitions
Fund:|balance transferred||||920,000||920,000||
|Amount loaned from Endowment
in 2018|||now repaid|||||387,935|
|Net movements
in the reporting
period|||||955,000|8,378|963+78|658,244|
|Balance at end ofthe period|||||||||
|Gift component of Permanent||Endowment|||3,255,947||3,255,947|2,300,947|
|Unapplied
total return||||||53,491|53+91|45,113|
|Tota I||||3,255,947||53,491|3+09,438|2,346,060|
##
##
##
|FOR THE YEAR ENDED 31DECEMBER 2|FOR THE YEAR ENDED 31DECEMBER 2|FOR THE YEAR ENDED 31DECEMBER 2|FOR THE YEAR ENDED 31DECEMBER 2|FOR THE YEAR ENDED 31DECEMBER 2|FOR THE YEAR ENDED 31DECEMBER 2|021|||||
|---|---|---|---|---|---|---|---|---|---|---|
|17.Restricted
Funds (The Group and the Charity)|||||||||||
|||||||Balance at|Incoming|Outgoing|Transfers|Balance at|
|||||||31Dec2020|resources|resources||31Dec2021|
|||||||f|||||
|Development
funds|||||||||||
|The Holburne
Museum|development||||project|7,762,748||(227,437)||7,535,311|
|Heritage Asset Funds|||||||||||
|Funding for purchase ofassets|||—Note||14|761,000|56,000|||817,000|
|Special Acquisitions
Fund|||||||||||
|Balance oustanding||||||920,000|||(920,000)||
|Less: Pension fund deficit||offset -50%|||oftotal|(592,000)|||592,000||
|||||||328,000|||(328,000)||
|Specific purposes
funds|||||||||||
|National
Lottery Comm|Fund:||Pathways|||67,327|75,997|(67,068)||76,256|
|Funds for other Learning|projects||||||41,500|||41,500|
|Ellerman
Found / Traverse||Trust||—Curator funding||19,331|29,477|(27,475)||21.333|
|Clare —for redecoration||||||20,000||(2,800)||17,200|
|Conservation
(various small amounts)||||||9,263|4,840|||14,103|
|Stum pwork||||||3,500||||3,500|
|Neighbourhood
Postcode||Lottery||.||9,959||(9,959)|||
|Cayzer Trust - for removal||oftable||||8,000||(8,000)|||
|Funding for Exhibitions||||||5,000||(5,000)|||
|Other Funds|||||||10,000|(10,000)|||
|Coronavirus
Job Retention||Scheme funding|||||7,781|(7,781)|||
|||||||142,380|169,595|(138,083)||173,892|
|||||||8,994,128|225,595|(365,520)|(328,000)|8,526,203|
|18.Unrestricted
Funds|||||||||||
|||||||Balance at|Incoming|Outgoing|Gains, losses||
|||||||31Dec2020|resources|resources|and transfers|Balance at
31Dec2021|
|The Group||||||735,267|1,411,314|(1,344,937)|(110,095)|691,549|
|The Charity||||||735,156|917,800|(851,323)|(110,095)|691,538|
##
##
##
##
##
|Changes|in the present value ofthe defined|benefit obligations|benefit obligations|2021
f|2020
E|
|---|---|---|---|---|---|
||Opening
defined benefit obligation|||2,351,000|1,940,000|
||Current service cost|||17,000|16,000|
||Interest cost|||33,000|41,000|
||Contributions
by employees|||2,000|3,000|
||Acturial
(gain) / loss on liabilities|||(88,000)|367,000|
||Net benefits
paid|||(17,000)|(17,000)|
||Past service cost|||1,000|1,000|
||Closing defined benefit obligation|||2,299,000|2,351,000|
|Changes|tothe fair value ofassets|||||
||Opening fair value ofassets|||1,167,000|1,113,000|
||Interest return
on assets|||17,000|24,000|
||Acturial
gain / (loss) on assets|||115,000|9,000|
||Contributions
by employer|||42,000|35,000|
||Contributions
by employees|||2,000|3,000|
||Net benefits
paid|||(17,000)|(17,000)|
||Closing fair value ofscheme assets|||1,326,000|1,167,000|
|Actual return on assets||||||
||Interest return
on assets|||17,000|24,000|
||Acturial
gain / (loss) on assets|||115,000|9,000|
||Actual return on assets|||132,000|33,000|
|Analysis|ofamounts
recognised
in statement|ofrecognised|gains and losses|||
||Acturial
gain / (loss) on assets|||115,000|9,000|
||Acturial
gain / (loss) on liabilities|||88,000|(367,000)|
||Total acturial gain / (loss)|||203,000|(357,000)|
##
##
|21a.Previous Year Comp|a|ratives
—Consolidat|ed
Statement|of Financial|Activities||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total Funds|
||||Funds|Funds|fund|2020|
|||||||E|
|INCOME|||||||
|Grants and Donations|||886,798|107,398|262,500|1,256,696|
|Income from charitable|activities||339,788|194,290||534,078|
|Other trading activities|||207,539|||207,539|
|Income from investments|||352|||352|
|Total Income|||1,434,477|301,688|262,500|1,998,665|
|EXPENDITURE|||||||
|Expenditure
on raising funds|||(85,839)|||(85,839)|
|Investment
management||costs|||(39,010)|(39,010)|
|Expenditure
on charitable||activities|(878,849)|(482,760)||(1+61,609)|
|Total Expenditure|||(964,688)|(482,760)|(39,010)|(1886858)|
|NET INCOME/
(EXPENDITURE)|||469,789|(181,072)|223,490|512,207|
|TRANSFERS BETWEEN FUNDS|||||||
|Total Asset Return transfer|||252,501||(252,501)||
|Loan from Endowment|now repaid||(387,935)||387,935||
|Avon Pension
Fund deficit|||(235,000)|235,000|||
|NET INCOME/(EXPENDITURE)||AFTER TRANSFERS|99,355|53,928|358,924|512807|
|Gain on investments|||||299,320|299820|
|Actuarial
loss on defined|||||||
|benefit pension scheme|||(357,000)|||(357,000)|
|NET MOVEMENT IN FUNDS|||(257,645)|53,928|658,244|454,527|
|FUND BALANCES BROUGHT|FORWARD||992,912|8,940,200|1,687,816|11,620,928|
|FUND BALANCES CARRIED FORWARD|||735,267|8,994,128|2,346,060|12,075,455|
##
##
||||Unrestricted|Restricted|Endowment|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|Funds|Fund|2020|
||||f|f|f|f|
|FIXED ASSETS|||||||
|Tangible fixed assets:|||||||
|Freehold Property:||The Museum|550,000|7,260,888||7,810,888|
|Other assets|||140,487|501,860||642,347|
||||690,487|7,762,748||8,453,235|
|Heritage assets||||761,000||761,000|
|Investments|||88,990|920,000|2,083,560|3,092,550|
|TOTAL FIXED ASSETS|||779,477|9,443,748|2,083,560|12806,785|
|CURRENT ASSETS|||||||
|Museum
shop stock|||28,225|||28,225|
|Debtors|||122,210|||122,210|
|Bank balances and||similar|577,006|142,380|262,500|981,886|
||||727,441|142,380|262,500|1,132,321|
|CREDITORS: Amounts|falling due||||||
|within one year|||(179,651)|||(179,651)|
|NET CURRENT ASSETS|||547,790|142,380|262,500|952,670|
|NET ASSETS BEFORE PENSION DEFICIT|||1,327,267|9,586,128|2,346,060|13,259,455|
|Pension scheme deficit|||(592,000)|(592,000)||(1,184,000)|
|NET ASSETS|||735,267|8,994,128|2,346,060|12,075855|
|ENDOWMENT
FUND|||||2,346,060|2,346,060|
|RESTRICTED FUNDS|||||||
|Development
Fund||||7,762,748||7,762,748|
|Heritage Assets||||761,000||761,000|
|Special Acquisitions||Fund||920,000||920,000|
|Less: Avon Pension||Fund deficit offset||(592,000)||(592,000)|
|Specific Purposes|Funds: Revenue|||142,380||142,380|
|||||8,994,128||8,994,128|
|UNRESTRICTED FUNDS|||||||
|General fund|||735,267|||735,267|
||||735,267|8,994,128|2,346,060|12,075,455|
##
##
|21c.Previous Year Com|paratives
—|Endowment|and Restricted|Funds||||
|---|---|---|---|---|---|---|---|
|||||||Transfers||
||||Balance at|Incoming|Outgoing|and other|Balance at|
||||1Jan 2020|resources|resources|gains and|31Dec2020|
|||||||losses||
|ENDOWMENT
FUNDS||||||||
|Catalyst
Fund|||1,687,816|262,500|(39,010)|434,754|2,346,060|
|RESTRICTED FUNDS||||||||
|Development
funds||||||||
|The Holburne
Museum|development|project|7,990,186||(227,438)||7,762,748|
|Heritage Asset Funds||||||||
|Funding for purchase ofassets - Note||14|761,000||||761,000|
|Special Acquisitions
Fund||||||||
|Balance oustanding|||920,000||||920,000|
|Less: Pension fund deficit offset -50%||oftotal|(827,000)|||235,000|(592,000)|
||||93,000|||235,000|328,000|
|Specific purposes
funds||||||||
|National
Lottery Comm|Fund: Pathways||59,026|79,790|(71,489)||67+27|
|Clore - for redecoration|||20,000||||20,000|
|Ellerman
Found / Traverse Trust - Curator funding|||3,893|38,477|(23,039)||19+31.|
|Neighbourhood
Postcode Lottery||||9,959|||9,959|
|Conservation
(various small amounts)|||9,263||||9,263|
|Cayzer Trust - for removal oftable||||8,000|||8+00|
|Funding for Exhibitions||||25,184|(20,184)||5,000|
|Stum pwork|||2,500|1,000|||3,500|
|Learning|||1,332||(1,332)|||
|Coronavirus
Job Retention Scheme funding||||114,500|(114,500)|||
|Art Fund 'Respond
and|Reimagine'
project|||13,778|(13,778)|||
|National
Lottery Comm.|Fund: Create|@Home||11,000|(11,000)|||
||||96,014|301,688|(255,322)||142,380|
||||8,940,200|301,688|(482,760)|235,000|8,994,128|
##
##
##