REGISTERED CIL4RITY NUMBER: 312142 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for The Hertford Museum Charity
The Hertford Museum Charity Contents of the Financial Slatements for the Year Ended 31 Iwlarch 202) Report of the Trustees Independent Examiner's Report Statement of Financial ActiiTrties Balance Sheet Notes to the Finaneial Statements 10 to 22
The Hertford Museum Charity Report of the Trustee5 for the Year Ended 31 March 2025 The trustees present their report with the financial sthiements of the charily for ihe year ended 31 March 2025. The trustees have adopted the provisions of Accounting Reporting by chtieS.. Statement of Recon]n]ended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Hertford Museum is a registered charity, registration numErr 312142. It was formed by a deed of gift on 25 September 1915. The Trust is managed by a Board of Trustees and organised in accordance with its Trust Deed dated 30 January 1990 as ended by the schcdulc of 13 JanUY 21I)3. The running of the Museum is delegated to the Curator, Sara Taylor. who operates within guidelines set down by the Trustees. Powers are also delegaied 10 a Finance and Invesimeni Panel of Trusiees io manage Ihe accounting run by (he Finance and Adminislration Manager and investments through financial advisers in accordance with an agreed investment policy. The financial statements have been prepared in accordance wilh the Tnjst Deed and relevani sthtutory requirements. The net assets of the Museum available ddcqudle to fulfil its obligdlions. The Museum Property and land are vested in Helllord Town Council. which holds Ihem in Trust for the Charity. The TSteeS are aware of the requirements under Charlties SORP (FRS 102) to identify and Mitigate risks faced by the organisation and are adopting appropriaie policies 10 reduce exposure (o those risks. Page I
The Hertford Museum Charity Report of the Trustee5 for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Objectives and aims Hertford Mu.seun] is comtnitted io en5UTing the heritage of FA5t HertfoTd5hiTe is preserved. interpreted and enjoyed and that we continue to deliver a range of engaging programmes that are valued by our community. With this in mind, the Trustees of Hertford Museum reviews its Aims Objectives on d regular basis. l. To preserve, inlerprel and display the heritage of Hertford and surrounding villages: o Maintn the quality uf cullcLtions scck to improvc sloragc con5crvation ([c]entS o Pre%ent d n]inimum of four exhibition5 per annum o Seek funding to enhance acquisitions and collections o Develop relaiionships with surrounding parishes o Prioritise active collecting ot material that reflects incre&sing diversity and social change within our collecling area. 2. To provide a quality service that engages with a full cross-section of the local and wider community o Deliver a learning programme Ihai responds 10 ihe needs ol dilfereni ages and learning siyles o Engage with under-rcpresented diverse audiences o Consult with our stakeholders and make effective use of social media and rnketing tools available to us in order to reach across (he community o Find new ways lo engage volunteer supwrt o Respond to the changing needs of our communiry by diversifying how we deliver our services 3. To be fully involved in the on-going development of Hertford. its growth as a eultural centre, and of the wider Museum collecting area o Work with extemal partners io deliver communiiy evenis Ihai promote Hertford's cultural life o Seek way% lo ensure the Museutn benefits from Town Centre developvnent o Attend local meetings that promote Hertford's culra1 life 4. To ensure governanee is of the highest standard and refleets the interests of all stakeholders o Identify and recruit truslees according to the future needs of the board o EsblIsh clear policies and documeniaiion thai support effective management o Maintn Art% Council accredited status 5. To work towards grealer financial sustainability o Implemeni our fundraising siraiegy and coniinue io seek oui opponunilies for income generation o Demonstrate value for money to all stakeholders o Manage property and maintenance issues in a planned and pro-active way Public benefit Hertford Museum aims to collect, preserve and interpret evidence of the history of the county town and surrounding parishes in the District of Easi Hertfordshire for the inieresi. enjoymeni and understanding of the local communily and other visitors. Page 2
The Hertford Museum Charity Report of the Trustee5 for the Year Ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE Achievement, Perforniance & Charitable Activities A% ever it has been a fInCIallY challenging year foT the mu5euTn although the Previous year ended largely on budget although more deficit. In addition the n]useun] operated with d vacancy in the Tole of A5Si5Lmt Curator for a large part of the year n]aking planning and progress difficult. Despite this the museum continue5 10 deliver core PrOgre5 such as temporary exhibition5. events services for schools. School engagemeni was marginally impacted ihis year due io siaff illness in the Auwmn terni. Circa 3954 at 57 schools engaged with our learning service this year which represents a further 5 sch(K)Is more than last year but is dropping students if 369. Exhibition highlights included:_ 100 years of Hertford North - supported by thnding from Greai Northern Railways. We worked with railway hislorians to explore ihe hisiory of Henford's busiest railway siaiion. On the Sauce.. Life & Death in Hertford pubs - from chrislening celebrations through to inquest we looked at how Hertford pubs were part of everyday life for over 3(K) years. Al the Edge of Empire - we shone a lighi on ihe lives of the tron Age Briions living al Foxholes Fann. Hertford during the invasion and reign of the ROrn En]pire. Barbara Canland.. The Art of Romance - the exhibition commemorated a century's publication of her first novel and feaiured original artworks. gowns and many oiher iiems loaned by Barbara Cartland's granddaughter. The exhibition proved extremely popul benefitted froni BBC television and ndtional newspaper coverage and attracted visitors from across the south east. Our events programmes continued through Ihe year with a fvll compliment of varied events including art & craft workshops for ddults. local history walk5 and talks. We maintained a strong on-line presence wilh aciive social media accounts. The following on our Instagram account incread by 33ge this Ye and followers to our Linked In accounts by 23%. We post dbout d wide vetY of Lspect% of museum life from events and exhibilions to new stixk in our shop. This y&qr our marketing and fi]ndraising committee devised a new marketing stralegy and focused on our on-line engagement. Wilh our events programme we continue to provide a f(Kal attraction for the town. During the year people travelled from across the county to take place in our holiday aclivity provision with many going on to enjoy the shop's, cafe's and restaurt5 Within the towTr. FINANCIAL REVIEW Financial position The Inuseum approached the currenl year knowing that its operating costs would increase due to the increase in National Living Wage and also anticipated increased repair cosls in maintaining its historic building - these being the museum's two biggest costs. However. Ihis was recognised in ihe budgeiing process and ihe museum is graieful lo Hertford Town Council for providing ddditiondl income to cover Tnosl of the cost increases. As a consequence, the museutn entered the ye anticipating a break-even budget. In the event, benefitting from a VAT rec1 of £12.8k (under the Vat refunds scheme for museums dnd gdlleries). the gain on investments of £15k, the gain on revaluation of ihe freehold propeny of £355.6k and a large deposiiion of £17k. an overall surplus of £_392.1 k was achieved. The receIS helped grow Ihe bank balance to £104,758 (spread across restricced and unrestricted projects and investments). Page 3
The Hertford Museum Charity Report of the Trustee5 for the Year Ended 31 March 2025 The trustees undertook a revaiuaiion of ihe museum's building and this resulied in an increased valuation io £1.5m. The balance sheet is therefore in a hedlthy tK)silion. albeit its net liquidity (whilst ddequate for ils operational purpose5) is much lower than its net assets. Looking fovd, the trustees redlise thdi there 15 a large Teliance on its tndjor funder and are conscious of the need to attract income from other sources. However, the trustees also consider that we are currenily in a strong financial position from which to maintain our core purpose and also to develop the offering to its sponsors and public. At the start of the reporting period the OUnt of funds in the tnuseuvn's bank accounts totalled £73,029. During the year the museum received total income of £276.123 (2024 - £233.934). The museum received grants from Hertford Town Council totalling £172.278 (2024 - £149,807) and other grants totalling £725 (2024 - £2.867). Additionally. the Tnuseum received income for museun] shop Sales totalling £25,124 12024 £28.378), income from deposilions ioialling £17.0(K) (2024 - £Nil). income from donations iothlling £14.IK)1 (2024 £22,258), incon]e from inve%ln]ents totslling £21.188 (2024 - £21.453). incon]e fron] schiK)I work activities totdlling £10,328 (2024 - £8,661) and income from room renlal totalling £326 (2024 - £510). During the peri(xJ, the museum expenditure totalled £254,625 (2024 - £249,743). The largest outlays were for wages costs of £15_3,012 (2024 - £138,M2), repairs of £17,286 (2024 - £24,596). rates and water of £29,527 (2024 - £24,549), rental costs of £1 1.355 (2024 - £11.355) and shop cosis of £7.787 (2024 - £8.322). At the end of the accounting ttriod, the amount of thnds in ihe museum's bank accounts totalled £104,758. STRUCTURE, C.OVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a deed of tst and constileS an unincorporated charity. REFERENCE AND ADNIINISTRATIVE DETAILS Registered Charity number 312142 Principal address 18 Bull Plain HERTFORD SG14 IDT Page 4
The Hertford Museum Charity Report of the Trustee5 for the Year Ended 31 March 2025 Trustees C Pease (Chair from 15.2.24) C Seward (deceased June 2025) C Geall S Hackshall (resigned 18.4.24) P Crane G Sexton (resigned 18.4.24) C St Quentin Gittings (deceased December 2025} P Wisbcy J Pery (Vice Chair frotn 15.2.24) J Sartin M Elder D Chichester-miles J Playfair M Connolly A Woodward (appointed 23.7.24) A Da laptK>intcd 23.7.24) Independent Examiner Adam Burt ACA FCCA HSA&Co Chartered Accountants Lewis House Great Chesterford Court Great Chesierford CBIO IPF STA TEMENT OF TRUSTEES, RESPONSIBtLITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and unlld Kingdom Accouniing Siandards (Uniied Kingdom Generally Accepied Accounting Practice). Charity law requires the trustees lo prepare financial statements for each financial y&qr. Under that law, the tru.%tees have elected to prepare the financial sta(ements in accordance with United Kingdom Generally Accepted Accounting Practice {Uniled Kingdom Accouniing Sthndards and applicable law). Under charity law the trnstees must not approve ihe financial siaiements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resource5 application of resources, including the inconie expenditure, of the ChtY foi that period. In prePing those finClaI stdtcmcnts, the trustee.s requircd to select suiiable accouniing policies and Ihen apply Ihem consisienily. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent- prepare Ihe financial staiemenis on the going concern basis unless il is inappropriate 10 presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time the financial position of the charity to enable them to ensure that the finClaI staten]ents con]ply with the ChitIes Act 2011 and The Charity (Accounts and Reports) Regulaiions 2(K)8. They are also responsible for safeguarding the assets of the chariiy and hence for taking reasonable steps for Ihe preveniion and deiection of fraud and other irregularities. Page 5
The Hertford l¥Iuseum Charity Report of the Trustees for the Year Ended 31 Mareh 2025 Approved by order of Ihc board of trusiees on ..... d signed on ILS bLhalfb. C Pease - Trusiee Page 6
Independenl Examiner's Report to the Trustees of The Hertford Museum Charity Independenl examiner's report to the tteeS of The Hertford Museum Charity I report to the ChtY trustees on my examination of the accoun15 of The Herttord Mu5eun] Charity (the Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the charity trustees of the Trust you are restK)nsible for the preparation of the accounts in accordance with the requirements of the Charities Aci 2011 ('the Act.). I report in respect of my examination of ihe Trusl's accounls carried out under Section 145 of ihe Act and in carrying oul my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5){b) of the Act. Independent examiner's statement Since your charity's gross income exceeded £250,( your examiner musi be a member of a listed body. I can confinn that I am qualified to undenake ihe examinaiion because I am a mernr of ihe Associaiion ol Chartered Certified Accountants. which is one of the listed bodies. I have completed niy examition. I confirm that no material matters have corne to my atteT]tion in connection with the examination giving me cause klieve thai in any maierial respeci= accounting records were not kep( in respect of the Trnst as required by Section 130 of the Act; or the accounts do noi accord wilh ihose records. or the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Rerts) Regula(ions 2(K)8 oiher Ihan any requirement that the accounts give a true and fair view which is noi a mailer considered as pan of an indendent examinaiion. I have no concerns and have come across no other matters in connection with the examination to which atÈntion should be drawn in this report in order io enable a proper undersianding of the accounis 10 be reached. Adam Burt ACA FCCA HSA&Co Chartered AccounLints Lewi% House Great Chesterford Court Great Chesterford Essex CBIO IPF 2310112026 Page 7
The Hertford Museum Charity Statement of Financial ActiTrities for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted fund Revalualion reserve Restrtcted funds Notes INCONIE AND ENDOWMENTS FROM Donations and legacies 188.053 1,321 189,374 174,932 Charitable activities Gcncral 35.452 35,452 37,039 Investment income Oiher income 21,188 13.1(K) 21.188 30,1(K) 21,45_3 510 17.1MK) Total 257.802 18.321 276,123 233,934 EXPENDITURE ON Raising funds 3.157 3.157 3.077 Charitable aetivities General 247,843 3,625 251,468 246,666 Total 251.(KK) 3.625 254,625 249.743 Net gains on investments 15,0(A) 355.589 370,649 6,306 NET INCOMEI(EXPENDITURE) 21.862 9,042 355.589 14.696 (9,042) 392.147 (9.503) Transfers between funds 16 Net movement in funds 30,9( 355.589 5,654 392,147 (9,503) RECONCILIATION OF FUNDS Total funds brought forward 1,625,468 22,809 1,648,277 1,657,780 TOTAL FUNDS CARRIED FORWARD 1.656,372 -355.589 28.463 2,040.424 1,fv18,277 The notes form part of these financial slatements Page 8
The Herrford IlIuseum Charity Balance Sheet 31 March 2025 2025 Toral funds 2024 Total funds Unrestricted fund R¢Traluation Resiricted funds Notes F'IXED ASSETS -l-angible assets InvLstmLnls io I, l i5.28) 442C)18 3)5.589 1,510.874 442618 1,156,344 427 346 1.597,903 355,589 1,953.492 1.583,690 CURRENI. ASSETS Debtors Cash at bank and in hand 12 13 2.79) 76.29) 2,795 104.758 28.463 73.029 79.090 ?8,463 107,553 83.082 CREDITORS Amounts falling due '11h1n one vear 14 (20.621) (20,621} (18,495) ET CL,RRE.YT ASSETS 58.469 TOTAL ASSETS LESS CURREliT LIABILITIES 1,656,372 35i,i89 28,463 2,040,424 1,648,277 NET ASSETS 1.656.37? 355.i89 28,463 ? 040.4?4 1.648.277 FUPDS Unrestricted tunds Restricted funds 16 2.011,961 1.625,468 TOTAL FUNIIS 2 040.424 1 648 277 The financial staiemenis w'ere approN'ed by the Board of Trnstees and auihorised for issue on and were signed on its behalf by.. 12 C. Pease - Trusiee Thc noies fonn part of these fmancial statemcnts Page 9
The Hertford Museum Charity Notes to the Financial Stalements for the Year Ended 31 Iwlarch 2025 PRESENTATION CURRENCY The presentation currency of the [inclaI 5tateTnents is the Pound Sterling (£). ACCOUNTING POLICIES Basis of preparing the financia] slalements The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in aCCordce with the chtieS SORP IFRS 102) 'Accounting Rcporting by Chl(les.. Stdlcn]cnt of Recomniended Practice applicable to ChtieS prePng their accounts in aCCordce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeciive l January 2019)., Financial Reporting Standard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, and (he Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of invesiments which are included at markei value, as modified by the revaluation of certain assets. Income All income 15 recogni5ed in the Stdlernent of Financial Activities once the charity entitlement io the funds, it is probable that the income will be received and ihe amount can be measured reliably. Donations, legacies and other forms of unrestricted income are recognised as incoming resources when receivable, such as exhibits and collections donated io ihe Irusi. Grants are accounted for in full on a receivable basis. Income tax recoverable in relation io donaiions received under gifi aid or deeds of covenant is recognised at the time of the donation. Expenditure Liabilities recognised as expenditure a5 s iheTe is a legal or con5truclive obligation con]rnitting the charity to that expenditure, it is probable that a transfer of economic benefils will be required in setilement and the amount of the obligation can measured reliably. Expenditure is accounied for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activilies on a basis consistent with the use of resources. Tangible red assets Depreciation is provided at the following annual rates in order to write off each assel over ils estimated useful life. Fixtures and fittings 5% on cosi Freehold property is stated at fair value and is noi depreciaied as the mistees consider that it has an indefinite useful eLonomic life. This assessment is SUPTK)rted by the tUre ol the property, regul n1tenanCe periodic valudtions. Tangible fixed assets - freehold property {revaluation) Freehold property is inilially recognised at cost and subsequently measured at valuation, being fair value less impairment. Revaluations are underLgken wilh sufficient regulariry 10 ensure the carrying amount does noc differ marially from fair value. Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in a revaluation reserve. Taxation The charity is exempt from tax on its charitable activities. Pdge 10 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 ACCOUNTING POLICIFS - continued Fund accounting Unrestricled funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular Te5tricted purtK>ses within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and PUTP05e of each fund 15 included in the note5 to the financial statement5. Hire purchase and leasing commitments Renials paid under operaiing leases are charged io the Siaiemeni of Financial Activities on a straight line basis over the period of the lease. Pension costs and other post-retirement benefits The charily operaies a defined coniribuiion pension scheme. Coniribuiions payable 10 the charily's pension scheme are chged to the Statemcnl of FInCIal Activities in the period io which they relate. DONA TIONS AND LEGACIES 2025 2024 Donations Gifi did Grants 14.001 2,370 173,(K)_3 22.258 152,674 189,374 174,932 Grants received, included in the above. are as follow5= 2025 2024 Hertford Regiment Museum Hertfordshire Association of Museums Ncurodiversity Training Audience Developmenl Heriford Town Council 2,467 225 5(X) 172.278 149,807 I73.13 152.674 Pdge 11 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 INVESTMENT INCOME 2025 2024 Investmeni Income Deposit accouni interest 19,852 1,336 20,286 1,167 21.188 21.453 OTHER INCOME 2025 2024 Deposition income VAT refund Room renthl 17,0(Xl 12,783 326 510 30.109 510 RAISING FUNDS Investmenl management costs 2025 2024 Investment management fees 3,157 3.077 TRUSTEES, REMUNERATION AND BENEFITS There weTe no trustee5' remuneration or otheT benefits for the year ended 31 March 2025 nor for the Ye ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was 10 {2024 - 9). This includes part-time employees. No employees received emoluments in excess of £(rf),IXM) (2024- no employees). Pdge 12 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 COMPARA TIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES Unresiricied fund Revaluaiion reserve Res[ricd funds Total fund5 INCOME AND ENDOWMENfs FROM Donations and legacies 171.348 3,584 174,932 Charitable activities Gencr 37.039 37,039 Investment income Oiher income 21.453 510 21,453 510 Total 230.350 3,584 233,934 EXPENDITURE ON Raising funds 3.077 3,077 Charitable aetivities General 239.341 7,325 246.666 Total 242.418 7.325 249.743 Net gains on investments 6,306 NET INCOMEI(EXPENDITURE) (5,762) (3,741) {9,50_3) RECONCILIATION OF FUNDS Total fund.s brought foVd 1.631.230 26,550 1,657,780 TOTAL FUNDS CARRIED FORWARD 1,625,468 22,8( 1,648,277 Pdge 13 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 io. TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Totals COST OR VALUATION Ai l April 2024 Revaluations 21,180 ,165,591 355,589 355,589 Ai 31 March 2025 1.500.IKK) 21.180 1.521.180 DEPRECIATION At l April 2024 Charge for year 9,247 1,059 9.247 1,059 AL 31 March 2025 10,-3( 10,-3( NET BOOK VALUE At 31 March 2025 1,500.(JX) 10.874 ,510,874 At 31 Mch 2024 1.144.411 11,933 1,156,344 Cost or valuation at 31 March 2025 is represenied by- Fixtures and fittings Freehold property Totals Valuation in 2025 Cosi 355.589 1.144.411 355,589 1.165,591 21.180 1.51I).0(K) 21,180 1.521,180 If freehold property had not en revalued it would have been included at the following historical cost.. 2025 2024 Cost 1.144.411 Freehold property was valued on an open markei b&sis &$ at 31 March 2025 by the charity's Financial Committee. Pdge 14 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 ii. FIXED ASSET INVESTMENTS Lisled investments MARKET VALUE At l April 2024 Additions Disposals Rcvaludtions 427,346 15,42.3 (14,449) 14,298 AL 31 March 2025 442,618 NET BOOK VALUE At 31 March 2025 442,618 At 31 March 2024 427,346 There were no investn]ent assets outside the UK. Cosi or valuaiion al 31 March 2025 is represenied by: Lisled investments Valualion in 2017 Valuation in 2018 Valua(ion in 2019 Valuation in 2020 Valuation in 2021 Valuaiion in 2022 Valuation in 2023 Valuation in 2024 Valuaiion in 2025 Cost 80,877 (14,479) 4.645 168,051 } 54,602 11,499 (28,854) 7,-303 15,235 379,841 442,618 Pdge 15 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 12. DEBTORS: AMOUNTS FALLING DUE THIN ONE YEAR 2025 2024 Trade debtors Other debtors 968 1.827 5,465 4,588 2.795 10.053 13. CASH AT BANK AND IN HAND The Chty, cash dt bank in hd ba1ce is de up of £91.529 relating to cash ba]dnces held in bk accounts (2024 - £59,586), £8.3 relating to pelty cash {2024 - £83) and £13.147 relating lo cash balances held as part of the investment portfolio (2024 - £1_3,360). 14. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade creditors Taxation and social security Oiher crediiors 13,349 2.30.3 4.969 11,468 2,319 4.708 20,621 18,495 Other creditors include accwals of £4,478 {2024- £4,708) and other creditors of £491 (2024 - £Nil). 15. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows- 2025 2024 Within one year 5.678 8,516 Pdge 16 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS Net nioven]ent in funds Transfers between fi]nds At 3113125 At 114124 Unrestricted funds General fund Revaluation reserve 1.625,468 21,862 355,589 9,042 1,656,-372 355,589 1.625.468 377.451 9.042 2.011,961 Restricted funds Ann Kirby Fund Community Toilet Scheme Income ElY YeS Progr[ne FOHM - proceeds of the Lutyens t£clure 836 2.296 25 (3581 478 2,296 25 465 251 901 1.037 9.042 558 392 134 3,727 {175) (98) 290 153 901 2.093 Free family activity places Reminiscence Projecl Restricied conservation fund Roller lack project The Orrey Fund Western Loan Programme Heriford is my Home Friends IT Support Fund Hertfordshire Regiment Museum Website Fund Preview Support Fund Museum Review grant A120 Deposilion 1.056 19.042) 558 (392) 134 2,708 (1,019) 2.339 4( 4(K) {1.1171 (2011 1.222 205 400 17.0(X) 17.0(K) 22.8( 14.696 (9,042) 28,463 TOTAL FUNDS 1.648.277 392.147 2,040,424 Pdge 17 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS - continued Nel movement in funds. included in the above are as follow5: Incoming Tesource5 Resources expcT]ded Gains and losses Movement in funds Unrestricted funds Gencrdl fund Revaluation reserve 257.802 (251,(M)01 15.060 355.589 21,862 355,589 257,802 (251,0(X)) 370,649 377,451 Restricted funds Ann Kirby Fund FOHM - proceeds of the Lutyens t£clure {358} (358) {175) (98) (175) (98) 1,056 (392) (1.019) Free family activity places Restricted conservation fund Wesiern Loan Programme Friend.5 IT Support Fund Hertfordshire Regiment Museum Website Fund Preview Support Fund Neurodiversity Training A120 Deposition 1,056 {392) {1.0191 40 (1,157) (2011 (2251 (1,117) (201) 225 17,(KK) 17,0(K) 18.321 (3.625) 14,696 TOTAL FUNDS 276.1 ?3 (254.6251 370.649 392,147 Pdge 18 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net moven]ent in funds At 311.3124 At 114123 Unrestricted funds General fund 1.631,230 (5.762) 1,625,468 Restricted funds Ann Kirby Fund Community Toilet Scheme Income Early Years Programme FOHM - proceeds of Ihe Luiyens l£ciure 931 2,404 252 (95) (108} (227) 836 2,296 25 465 389 465 251 901 1,037 9.042 558 392 134 3,727 Free family activity places Reminiscence Projecl Restricted conservation fund Roller rack project The Orrey Fund Western Loan Programme Heriford is my Home Friend.5 IT Support Fund Hertfordshire Regiment Museum Website Fund Preview Support Fund Museum Review grant (138} 418 9.042 558 1,166 432 4,335 619 (774) (298) (608) 4,757 51X) (2,418) (94) 400 2,339 406 400 26.550 (3,741) 22,809 TOTAL FUNDS 1.657.780 (9.503) 1.648.277 Pdge 19 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS - continued CompallYe net moven]ent in funds. included in the above are as follows". Incoming Tesource5 Resources expcT]ded Gains and losses Movement in funds Unrestricted funds GenCr fund 230.350 (242,4181 6,306 (5.762) Restricted funds Ann Kirby Fund Community Toilet Scheme Income Early Years Programme FOHM - proceeds of the Luiyens l£ciure (95} (1081 (227) (95) (108) (227) 98 (98) {138) Free family activity places Restricted conservation fund Western Loan Programme Hertford is my Home Friends IT Support Fund Hertfordshire Regiment Museum Website Fund Preview Support Fund Mu5eun] Review grant (138) 619 (774) (298) (608) 619 {774} (298) {608) 2,467 (4,885) (94) (2,418) (94) 400 4(K) 3,584 (7,325) (3,741) TOTAL FUNDS 233.9.34 {249,7431 6.306 9,503) General fund The General Fund consists of operating assets, liabilities, investments and fixed assets including the museum building which the trnst opera(es. Ann Kirb Fund Donations made in memory of Ann Kirby for improvements 10 and mainienance of the Andrews Room. This has included the new projecior and cupboards bui will also help us replace aciiviiy ioys eic as and when required. Communi Toilet Scheme Income Funding from EHDC which means anyone is welcome io come in and use our ioilei facililies. We use Ihis fund for Inntenance to the toilets plumbing eg drn riKlding. We can apply each year we first engineered this in December 2019 - it was a scheme just for Ware and slarted in 2012 and we asked EHDC if we could join as people were using our facililies afier Ihe bus siaiion ioilets closed. We will reapply for anoiher £l.IJM) ihis December. Drain rodding aside, it doe5 give us an opportunity lo build up a little pot to help if we require n]ajor plumbing maintenance. E1 ye Pro r[ne Funding specifically for aclivittes for under 55. We have used some to market toddler Tuesdays. FoHM- roceeds of the Lui ens Leciure Pdge 20 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS - continued Specifically for the support of museum events. This fund help5 US to thke some risks in our event provision and cover unbudgeted costs like replacing our PA speakers. activit laces Donations made to fund free family aclivity places for families on low incomes. Take up was low as people don't always feel comfortable presenting a nefitS award letter so we began working in partnership with Hertford Food Bank. We give thcm vouchcr5 to distributc take the cost of the activity placc off this fund when one 15 prcscnted at ihe till. Reminiscence Pro ect Funding from EHDC and Herts Association of Museums to deliver pay what you can reminiscence workshops to groups for whom our £95 fee would be a barrier. The difference between what the group can afford and £95 comes out of this pot if we book a works'hop as incotne. Restricted conservation fund Money generated from the sale of donaled bks, to specifically used for conserving the collection. Roller rack ro ect Funds to cover the cost of installing roller racking in our archaeology stores. Thc Otrc Fund Funds generated to conserve a mechanical celestial globe and orrery made by Jeremiah Cleeve of Welwyn in around 1810. It was given us by ihe Science Museum in 1933. Western LoatTr Pro ramme Towards specific aspects of the Danad exhibition projecL including transporL learning workshops - again we pay ourselve5 from this pot for these - instslldlion costs etc. Hertford is m Home Exhibition Hcrtford is tny home funded by the lottery heritage fund. Friends IT Su ort Fund Funding Irom ihe Friends of Hellford Museum 10 replace rr equipmeni as and when required. Hertfordshire Re imeni Museum Website Fund An ungoing restrictcd fund. initially to raise money to build the website, accruing and spending further fund5 for the ongoing husting dnd n]nIence of the website. Preview Su A donation niade to support the costs of refreshments for exhibition previews. Museum Review rant A small grant received fTOtn Hertford5hire Association of Museums to be used io pay consultancy fees. Neurodiversit Trainin A small grant io provide neurodiversity trdining to staff tnembers. A120 De osition A fund granted to detK>sit units and drawing5 for Cotswold Archaeology. The grdnt 15 to be spent OT] a cataloguer to catalogue stored items. Pdge21 continued...
The Hertford Museum Charity Notes to the Financial Stalements - conlinued for the Year Ended 31 Iwlarch 2025 16. MOVEMENT IN FUNDS - continued Transfers between funds During the year, a transfer made from the Roller rack project fund to the General fund totalling £9,042. This is on the basis that all restricted funds had been spent on the rollcr racking the Chty'S fillclaI coinmittee have contirmed this is no longer a restricled assel. The roller racking is presented within tangible fixed assets on the balance sheet at a net book value of £10,874. In the prior ye, d trsfer was tnade from the General fund to the Roller fdck project totalling £6,293. This Was on the basis tha( at the time, the roller racking was deemed a restricted asset and the transfer was recognising the asset within the appropriaie restricied lund. In the prior year, a transfer was made from the General fund to the Freelance Education Officer grant fund totalling £IOO.This wa5 due to the grt being 5peTJt in the Ye and the remaining expenditUTe relating to the freelance education officer was io be caiegorised as unrestricied expendi(ure. 17. RELATED PARTY DISCLOSURLS There were no related paty iransactions for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 22