2021-12-31-accounts - The Dunwich Reading Room And Museum

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DUNWICH READING ROOM AND MUSEUM CHARITY

REPORT AND ACCOUNTS FOR THE PERIOD JANUARY TO DECEMBER 2021

The Trustees present their report with the financial statements of the charity for the year ended 31[st] December 2021. The Trustees have adopted the provisions of the Statement Of Recommended Practice (SORP) in accordance with Financial Reporting Standards applicable in the United Kingdom and the Charities Act 2011.

REGISTERED CHARITY No 310305

ACCREDITED MUSEUM No 592

Principal Addresses

Postal: Dunwich Museum, St James Street, Dunwich, Saxmundham, Suffolk IP17 3DT Web: http://www.dunwichmuseum.org.uk/

Trustees

Matthew Salusbury (Chairman) Katharine Chant (Curator) John Cary (Treasurer) David Cook Susan Hardy Patricia Boechler Prof David Sear Caroline Gay Way

Principal sub-contractors

Jane Hamilton (Manager) Bethany Brookhouse (Associate Manager) Timothy Holt-Wilson (Archivist)

Independent Examiner

Geoffrey Abell

Bankers

Barclays Bank plc, Waveney Valley, 23 New Market, Beccles, NR34 9HD

Solicitors

Nicholsons, 23 Alexandra Road, Lowestoft, NR32 1PP

DRRM Report and Accounts 2021

REPORT OF ACTIVITIES DURING THE YEAR 2021

I took over as Chair of the Trustees in January 2021, succeeding John Cary who has put in so much hard work as Chair over the previous five years, on the Reading Room and the planned transformation of the DRRMC to a CIO. Ann Donnachie as museum accountant and minutes secretary continues to assist John in his role as treasurer.

We appointed two new trustees in early 2021: Caroline Gay Way, who has previously been involved in poetry events for the Museum and David Sear, Professor of Physical Geography at the University of Southampton, who has already contributed much to our understanding of how climate change forces have shaped Dunwich.

The Museum wasn’t able to reopen for the 2021 season until “Step 3” of the Government’s lockdown easing on 17 May and we decided not to go ahead with our usual Boxing Day to New Year’s Day reopening.

The pandemic brought its problems and advantages too: we received business support grants from East Suffolk and a generous recovery grant from the Arts Council than compensated for the loss in other income. Understandably, most volunteers continued to stay away in 2021.

The anchor on display outside the Museum – believed to be from an 18[th] century Admiralty survey ship – was lifted by tractor onto a new, safer stand in time for the Museum’s reopening in May. The stand was designed by John Cary. Chris Freeman and Andrew Hamilton, who did the heavy lifting, donated their labour to the Museum.

Beth Brookhouse, who joined the staff of Dunwich Museum as a Museum Associate the previous year, set up the Dunwich Museum Kid’s Club which ran numerous activities for local children this year: tile-making and a “Dunwich at War” event. Beth also greatly increased the reach of the Museum’s social media accounts and refreshed our website.

In partnership with Art Branches and Dunwich Greyfriars Trust we participated in the Chronicles of Greyfriars – a series of family-friendly mostly outdoor activities throughout July and August. Together with Stephanie Hartick and Tim Holt-Wilson of Art Branches we ran successful events including ‘Dunwich Voices’ a music and song event, flag making and family archaeology days.

In March we held our Museum Talk – via Zoom, given by Graham Scott, Senior Diver with Wessex Archaeology, with an update on the mysterious Dunwich Bank Wreck and its cannons and other artefacts.

September 2021 saw the acquisition by the Museum of the Joshua Kirby Map of Dunwich, made possible by generous donations by villagers and supporters. The map was prepared for conservation and framing ready to become to centrepiece of an exhibition to open the 2022 season.

Many thanks again to Geoff Abell for doing the independent examination of our accounts

Matt Salusbury, Chairman

DRRM Report and Accounts 2021

Dunwich Reading Room and Museum Charity Charity No 310305

FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31[ST] DECEMBER 2021

Income from Charitable Activities Sales 3 Less cost of sales 3 Gross Profit School Visits 3 TV Rights 3 Misc. Income 3 Reading Room Hire 3 Refunds 3	2021 2021 Unrestricted HLF 16,701 (7,996) 8,706 175 164 52 380 -	2020 TOTAL 10,295 (4,311)
		5,984 90 250 - 270 1,526
Voluntary Income Donations 3 Grants 3	9,476 - 26,389 10,930 9,500	8,121 14,636 36,315
Total Operating Income Less Expenditure Trading and Direct Costs 4 Management & Administration 4	37,319 9,500	50,951
	46,795 9,500	59,071
	22,892 7,583 8,258 -	25,242 4,961
Total Expenditure	31,150 7,583	30,203

	15,645 1,917	28,868
	2,180	2,306
	13,465 1,917	26,562
	1,991 16,694 406,760 - 32,149 1,917 438,909 1,917	1,961 7,699 370,538 36,222 406,760

*Earnings before investment income and depreciation

DRRM Report and Accounts 2021

Balance Sheet as at 31 Dec 2021

Fixed Assets NBV Buildings 7 Fixtures & Fittings 7 Museum - contents 7 Plant & Machinery 7 Fixed Asset Investments 8 TOTAL FIXED ASSETS Current Assets Stock & Work in Progress 5 Debtor, prepayments 5 Gift Aid Pending Current bank accounts 5 COIF Deposit Account 5 Cash in hand 5 Less Creditors: Amounts due within one year 6 Net Current Assets Total Net Assets Represented by Capital Fund 9 General Reserve 9 Arts Council COVID 19 Fund 9 HLF Fund (Restr) Fabric and building repairs fund 9 Future Development fund 9 Acquisitions Fund 9 Funds at 31 Dec 2021	2021 174,978 - 80,000 596 255,574 124,761 380,335 6,763 50 2,755 28,502 27,021 80 65,170 4,679	2020 176,793 98 72,000 864
		249,754
		108,067 357,821
		7,812 2,107 19,386 25,030 141
		54,476 5,538
	60,491 440,826 247,246 89,992 - 1,917 18,601 73,070 10,000 440,826	48,938
		406,760
		249,427 68,975 3,382 18,601 56,376 10,000 406,760

Signed by two trustees on behalf of all trustees Signature

Print name	Print name	Date
John Cary		28 Apr 2022
Matt Salusbury
Matt Salusbury		28 Apr 2022

DRRM Report and Accounts 2021

Note 1 Basis of Preparation

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with
Accounting and Reporting by Charities – Statement of Recommended Practice (FRS 102)
and with Accounting Standards
and with the Charities Act 2011
1.2 Change in basis accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year, except for the following:

1.3 Changes to previous accounts

No changes have been made to the accounts for previous years except for the following: NONE

2 Accounting policies Recognition of incoming

These are included in the Statement of Financial Activities when:

resources

The charity becomes entitled to the resources; and
The trustees are virtually certain they will receive the resource; and
The monetary value can be measured with sufficient reliability

Recognition of incoming resources	These are included in the Statement of Financial Activities when: • The charity becomes entitled to the resources; and • The trustees are virtually certain they will receive the resource; and • The monetary value can be measured with sufficient reliability
Incoming resources with related	Where incoming resources have related expenditure (as with fundraising or
expenditure	contract income) the incoming resources and related expenditure are reported
	gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has
	unconditional entitlement to the resources.
Tax reclaims on donations and	Incoming resources from tax reclaims are included in the SoFA at the same time
gifts	as the gift to which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been
performance related grants	delivered.
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the
	charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when
	sold or distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources
	when receivable
Donated services and facilities	These are only included in incoming resources (with an equivalent amount in
	resources expended) where the benefit to the charity is reasonably quantifiable,
	measurable and material. The value placed on these resources is the estimated
	value to the charity of the service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is
	described in the trustee’s annual report.
Investment income	This is included in the accounts when receivable.
Primary Purpose Trading	The charity trades as a gift shop to support its primary purpose
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss
	resulting from revaluing investments to market value at the end of the year
EXPENDITURE AND
LIABILITES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation
	committing the charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs
	of trustee meetings and cost of any legal advice to trustees on governance or
	constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific
conditions	level of service or output to be provided, such grants are only recognised in the
	SoFA once the recipient of the grant has provided the specified service or output.
Support costs	Support costs include central functions and has been allocated to activity cost
	categories on a basis consistent with the use of resources, e.g. allocating property
	costs by floor areas, or per capita, staff costs by the time spent and other costs by
	their usage.

ASSETS

DRRM Report and Accounts 2021

Tangible fixed assets for use by the charity Investments

Stocks and work in progress

These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value

These are valued at the lower of cost or market value

POLICIES ADOPTED ADDITONAL TO OR DIFFERENT FROM THOSE ABOVE

It is the policy of the charity not to depreciate tangible fixed assets where contents cannot be differentiated from plant or equipment. However a charge is being made of 0% (SL) on buildings 10% (SL) on temporary buildings and 20% (SL) on plant where they can be identified

3		INCOMING RESOURCES Voluntary Income Donations Gift Aid Donations	2021 2021 2021 2021 2021 Gen Res Cap Fund C-19 Fund HLF Total 17,115 17,115 9,274 9,274 26,389 26,389 9,355 9,355 9,500 9,500 1,575 1,575 10,930 9,500 20,430 16,701 16,701 (7,996) (7,996) 175 175 164 164 52 52 380 380 - - 9,476 9,476 3 3 1,988 1,988 1,991 1,991 48,786 9,500 58,286	2020 Total 12,103 2,533
		Grants from other organisations Grants DTT Grants HLF Grants Arts Council		14,636 1,844 300 14,171 20,000
		Income from Charitable Activities Trading Turnover Cost of Sales School Visits TV Rights Misc Income Reading Room Hire Refunds		36,315 10,295 (4,311) 90 250 - 270 1,526
		Investment Income COIF Interest COIF Dividends		8,121 12 1,949
				1,961
		TOTAL INCOMING RESOURCES		61,032

DRRM Report and Accounts 2021

Total

Gen Res Cap Fund C-19 Fund

4 OUTGOING RESOURCES

HLF Total

Charitable Activities

Grants Payable Institutions Trading & Direct Costs Managers Distribution (Shop) Expenses Business Rates Utilities Telephone/ ISP Cleaning Repairs & Renewals (Museum) Repairs & Renewals (Reading Room) Security & Fire Prevention Insurance Exhibitions & Activities	12,000 6,283 18,283 402 402 107 107 2,390 2,390 427 427 730 730 217 217 733 733 618 618 1,794 1,794 3,474 1,300 3,474 22,892 7,583 30,475 229 229 242 242 6,505 6,505 374 374 - - 786 786 122 122 - - - -
		12,943 85 - 2,086 425 953 3,086 2,728 1,220 1,446 270
Management & Administration Office Expenses Subscriptions General expenses Professional Fees Advertising & Marketing Bank Charges Finance Costs Archive & Curatorial Expenses Conservation Volunteer Expenses		25,242 216 157 6 911 191 390 2,471 - 618
Depreciation Depreciation(unrestricted)	8,258 , 8,258 - 2,180 2,180 2,180 2,180 31,150 2,180 - 7,583 40,913 17,635 (2,180) - 1,917 17,373 Total Total 6,763 6,763 50 50 2,755 2,755 27,793 27,793 - - 710 710 - - 27,021 27,021 80 80 65,170 65,170	4,961 2,306
Governance Costs Independent Examiner		2,306

TOTAL OUTGOING RESOURCES		32,509

NET INCOMING RESOURCES		28,523
Current Assets Stock & Work in Progress Trade Debtors & prepayments Gift Aid Pending Current Bank Undeposited Receipts Paypal Bank Sumup Acc COIF Bank Cash		Total 7,812 - 2,107 18,688 61 569 129 25,030 80
TOTAL		54,476

DRRM Report and Accounts 2021

Creditors Amounts due within 1 year: Amazon Anglia Revenues Ann Donnachie Richard Hoggett Leiston Press M&U Cleaning Modes Jane Hamilton (expenses) Southern Electric Deferred Income Beth Brookhouse		Total (51) - - 200 224 77 88 - - 5,000 -
TOTAL 4,679 Investment Assets Units 1 Jan Jan p/ share Value 1 Jan Income Units 3,759 1,798 67,567 Additions - - Total Units 3,759 Accumulation Units 196 20,619 40,501 Fixed Assets Cost Depr NBV 2021 2021 2021 Buildings 203,801 28,823 174,978 F&F 1,183 1,183 - Museum Contents 80,000 - 80,000 Plant & Machinery 1,908 1,312 596 TOTAL FIXED ASSETS 286,892 31,318 255,574		5,538 NBV 2020 176,793 98 72,000 864
	278,892 29,138	249,754
	Dec p/ share Value 31 Dec 2,054 77,193 24,217 47,568	Gains/ Losses 9,627 7,067
TOTAL 100,067	124,761	16,694
Statement of Funds Capital Fund General Reserve Fabric and building repairs fund Future Developme nt fund Acquisiti ons Fund HLF Fund (Restr) Arts Council COVID 19 Fund Funds at 1st January 2021 249,427 68,975 18,601 56,376 10,000 - 3,382 Additions Net incoming resources (2,180) 21,017 1,917 (3,382) Revaluation of assets 16,694 Transfers Transfers Transfers		TOTAL 406,760 17,373 16,694
Funds at 31st December 2021 247,246 89,992 18,601 *73,070* 10,000 1,917 -		440,826
Reconciliation and movement of Funds Net Current Assets Tangible Assets Fixed Asset Investments Capital Fund - 247,246 General Reserve 38,041 8,328 43,624 Fabric and building repairs fund 18,601 Future Development fund 73,070 Acquisitions Fund 1,933 8,067 HLF (restr) 1,917		TOTAL 247,246 89,992 18,601 73,070 10,000 1,917
Assets at 31st December 2021 60,491 255,574 124,761		440,826

DRRM Report and Accounts 2021

Section A

Independent Examiner’s Report

Report to the trustees of The Dunwich Reading Room and Museum Charity

On the accounts for the year ended 3 1 1 2 2 1 Charity No 3 1 0 3 0 5

Set out on pages 1 - 6 Respective responsibilities of trustees The charity’s trustees consider that an audit is not required for this year (under section and examiner 42(2) of the Charities Act 1993 (the Act)) and that an independent examination is needed. It is my responsibility to: • examine the accounts (under section 43 of the Act); • to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and • to state whether particular matters have come to my attention. Basis of Independent examiner’s My examination was carried out in accordance with General Directions given by the statement Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. Independent examiner’s statement In the course of my examination, no matter has come to my attention (other than that disclosed below): 1) Which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: • proper accounting records are kept (in accordance with section 41 of the Act); and • accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or 2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed 2 May 2022 Name Geoffrey Abell Address The Old Forge, St James Street, Dunwich Saxmundham IP17 3DU

DRRM Report and Accounts 2021

Section B

Disclosure

Only complete if the examiner needs to highlight material problems

Give here brief details of any items that the examiner wishes to disclose

The DRRM chooses to operate a number of Funds (see Note 10) some of which have had investments allocated to them. All of the revaluation of those assets (£16,694) has been allocated to just one of those funds, the Future Development Fund. Since all the Funds in question are Unrestricted this is legitimate, but presentation might have been clearer if the revaluation had been allocated in proportion to the investment holdings of the Funds, and consolidation achieved by explicit interfund transfers.

DRRM Report and Accounts 2021