Company Registration Numb•r: 00501963 Charlty Reg18tratlon Numb•r: 313056 THE MUSEUM OF LEATHERCRAFT (A Company Limitod by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31•1 DECEMBER 2023
THE MUSEUM OF LEATHERCRAFT (A Company Limited by Guarantee) Roport of the Trustees for the year ended 31•t DECEMBER 2023 INDEX Page Number Management Inforniation Directof 8 Report Director's Responsibiliti88 Independent Examiner'8 Report Statemont of Flnanclal Activities Balanc• Sheet Prlnclpal Accounting Polici88 9.10 Notes to tho Flnancial Statoments 11- 13
THE MUSEUM OF LEATHERCRAFT (A Company Limited by Guarantee) Pag8 1 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 314t DECEMBER 2023 Company number: 00501963 Charity number.. 313056 TrusteeslDirectors: Mr William Amberg Alison Brand-Barker David Barrow -chair Caroline Darke Paul Farmar Dr Graham Lampard (appointed 01,02.24) Penelope Flavell (resigned 22.08.23) Rachel Garwood Michael Pearson Martin Pebody Robert Tusting Christopher Marrum Registered office: Mha Macintyre Hudson Peterbridge House The Lakes, Northampton NN4 7HB Bankors: HSBC Hib-chin Independent Examiners: CVS Northamptonshire 32-36 Hazelwood Road Northampton NN1 1LN
THE MUSEUM OF LEATHERCRAFT Page 2 (A Company Limited by Guarantee) DIRECTOR'S REPORT FOR THE YEAR ENDED 31•t DECEMBER 2023 The trustees are pleased to present their report and the unaudited accounts of the charity for the year ended 3181 OeGember 2023. Directors and Trustèes The directors of the charrtabla company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Governing Document The Charty is constituted as a company limited by guarant88 and governed by its Memorandum and Articles of Association. The Company is registered under the Charities Acl 2011 and as such is nol liable to income tax, corporation tax and capital gains tax. Objects of tho Charity To collect and make publicly a¢¢essible articles made wholly, or partly, of leather (Includlng fur). To be a repository of items and information relating to the world history of leather manufacturing and associated industries. To engage with, encourage and exhibit present day and emerging craftsmen, using leather in design, lrfe, sport, industry, fashion, and art. Appointment of Tru8tee8 Trustees are recruited by invitation and appointed at the AGM. An induction by the Chairperson is given to all newly appointed trustees. Public Benefits Ststement The Trustees have taken due regard to the Charity Commission's guidance on public benefit It is a free at point of use resour for the study, engagement, and involvement in the development, uses and workmanship of18ather for the general public benefit. Risk review The Board of Trustees continues to rw4iew the risks to which the charity is exposed, and system5 are in place to mits.gate these risks Financial Review The accounts ftjr 2023 reflect the ongoing transfer of the Museum's collection to the Northampton Museum and Art Gallery. Income was almost entirely from grants and donations, and we are grateful to our generous supporters including West Northampton Council, The Worshipful Company of Saddler's and The Worshipful Company of Skinner's and The Leatherseller's.
THE MUSEUM OF LEATHERCRAFT Page 3 {A Company Limited by Guarantee) DIRECTOR'S REPORT FOR THE YEAR ENDED 31•t DECEMBER 2023 Reserves The current reserve policy is to maintsin sufficient cash flow for known commitments, and the rep1arnent of certain assets. Not all grants are received at the beginning of the financial year others are reiVed in arrears. Achievements, Perfonnance and Future The Leathercraft Collection 2023 has been a momentous year for The Museum of Leathercraft with memorandum of understanding being reach with Northampton Museum and Art Gallery (NMAG) owned by West Northamptonshire Council (WNC) on the future of the Leathercraft Collection. The memorandum covered four main areas - The Collections, Curatorial Stsff, Future Plans and the future relationship with the MOL trustees. The Leathercraft Collection -Thi8 has been gifted to NMAG under the terms of the Memorandum of understanding. The transfer of the artifacts to strict museum standards stsrted in October 2023 and will be complete by end April 2024. The Leathercraft Collection will remain an independent collection within NMAG. Many of the records have been transferred to Northampton Records Office also owned by WNC. The transfer of the artrfacts has been well planned and executed professionally. Curatorial Staff - James Hawksley our only full-time staff member was TUPE'ed across to WNC as The Leathercraft Curator at NMAG. Future Plans - NMAG will in phase two commit to a dedicated leather gallery as a long-term commitrnent. NMAG will also develop a Shoe and Leather Resource Centre to bring together their existing Boot and Shoe Collection and The Leathercraft Collection as a resource for further funding. Future relations with MOL trustees The trustees no longer have ownership or management responsibilities for the collection but will work with the NMAG on supporting The Leathercfaft Collection. This Includes help and advice, funding opportunities and using contacts and connections. The Fur Collection is now the remaining collection within the MOL and it is hoped to find a home for this collection in the near fvture although by its very nature this is a difficult task. In the meantime, the collection is being logged and photographed.
THE MUSEUM OF LEATHERCRAFT Page 4 (A Company Limitod by Guarantee) DIRECTOR'S REPORT FOR THE YEAR ENDED 31•1 DECEMBER 2023 The Future of the MOL As the MOL charity will no longer own the Leathercraft Collection or in fact have many artifacts in its possession the trustees have decided that the articles of association and the charity's name required a change to reflect this. On the 25th January The Museum of Leathercraft was changed to The Leath•rcraft Trust with the follow object. The objects of the CIO are to advance the education of the publi¢ in Leathercraft, its history, industry, culture, applications and continuing craftsmanship by: (1) promoting and supporting the care, preservation, enhanrnent and display of collections of academic, cultural or historical value; and (2) maintaining or supporting the maintenance of a library, leathercraft collection or resource ntre. The next step on the charity's development is Convert to a charltable incorporated organisation which hopefvlly will take place during 2024. Our Supporter8 Finally, a big thank you to our 8UPPOrters who over the last year have helped us to progress with their valuable advice and donations. These include The Skinners Company, The Leathersellers Company, The Saddlers Company, The Gilander Foundation, Leather UK, Association of Independent Museums, West Northamptonshire Council and numerous private donors.
THE MUSUEM OF LEATHERCRAFT Page 5 IA Company Limitsd by Guaran180) DIRECTOR'S RESPONSIBILITIES FOR THE YEAR ENDED 31•1 DECEMBER 2023 Company law requires the members of the Executive Committee to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the income and expenditure of the company for that period. In preparing those financial statements, the members of the Executive Committee are required to: select suitable accounting policies and then apply them consistently.. rnake adjustments and estimates that are reasonable and prudent.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue its activities, The members of the Executive Committee are responsible for maintsining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities Presenled and approved by the board of trustees on 15th July 2024 and signed on their behalf. David Barrow D1ctor is arrum Director
rf Northamptonshire A member of navca Independent Examiner's Report to the Trustees of: THE MUSEUM OF LEATHERCRAFT Reglstered Charity Number: 313056 I report on the accounts of the company for the year ended 31 $t December 2023. which are set out on the attached pages 7 to 13. Page 6 Re8pective re8ponsibiliti of tru8ts•s and oxaminor The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under Part 16 of the Companies Act 2006 (the Act) and that an independent examination is needed. Having satisfied myself that the company 18 not subject to an audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under sectlon 145 of the Charities Act 2011: follow the procedures laid down in tha general Directions given by the Charity Commission (under section 145(5)(b) of the Act, a8 amended,. and state whether matters have come to my attention. Ba•ls of Independent examlnerfs 8tat•ment My examination was carried out in accordance with general Directions given by the Charity Commission. 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 Item8 or disclosures of the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence tttat would be required in an audit, arKI consequently no opinion is given as to whether the accounts present a Irue and fair view,. and the report is limited to those matters set out in the statement below. Ind•pand•nl Examlner's Statement I hav8 completed my examination. I confirm that no matters have come to my attention in connection with the examinatlon giving me cause to believe that in any material respect.. accounting records were not kept accordance with the Compani88 section 386 of the 2006 Act: or the accounts do not accord with these records.. or the accounts do not ¢omply with the accounting requirements of sèction 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the methods and principles of the Ststement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Brenda Peers-Ross FMAAT. ACIE 29th Juty 2024 Covncsl lor Voluntary S8pAca Northampton & County 32-36 Hozelwood Road. Northampton NNI ILN - Tel.. 01604 627128 Email.. (vs@cvsnorthomplon5hire.org.uk Website.. www.cvsnortharnpton5hire.org.uk Charlty Reg. No. 1034697- ChL)rtlable Compony Llrntted by &Jarontee in England and Wales No. 2902472
THE MUSEUM OF LEATHERCRAFT Page 7 (A Company Limited By Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 318t DECEMBER 2Q23 N¢)tes Unrestrlcted Reslrlctsd Total 2023 Totsl 2022 In¢om6 and endowments from: Donatlons and legacies Charitable Activities Investments Oihef Total Incomb and ondowments 2,828 77,215 2,828 97,515 180 81,287 20.300 80,043 20,300 100,343 81,467 Expondlturg on: Raising Funds Charitabl8 Activitias Other Total Expandituro 82,897 4,347 87,044 g5,814 82.697 4,347 95,814 Net Incomel(•xpondlture (2,854) 15,953 13.299 {14.34n Tran$f8r bslw00n fund8 Nat movement In funds (2,6541 15.953 13,299 {14,347) Total funds brought forward 18,971 18,971 33,318 Total fund4 carrlgd ft)rward 16,317 15,953 32,270 18,971 All of the activities of the charitable company are classed a8 continuing. There are no recognised gains or losses other th8n those included in the Statement of Financial Activitie5 shown above.
THE MUSEUM OF LEATHERCRAFT (A Company Limited By Guarantee) Page 8 BALANCE SHEEf AS AT 31st DECEMBER 2023 Com Number: 0501963 Nota8 Unfestrfcted Réstrfcted Total 2023 Total 2022 Flxed Assets 828 828 1,105 Current Assots Debtors Cash at bank and in hand 2,031 15,088 17,117 2,031 31,039 33,070 7,308 11.973 19,281 15,953 15.953 Crodltors Amounts falling due within one year 1,628 (1,628) 1,828 (1,628) 1.415 (1,415) Not Cuff•nt As8619 15,489 15,953 31.442 17,886 NET ASSETS 16,317 15.953 32,270 18,971 FUNDS Unr88trlct8d Restrlctod Totsl 2022 Unrestricted fvnds Restricted 18,317 16,317 15,953 32,270 18,971 15,953 15,953 16,317 18,971 For the year ending 31 gt December 2if23, the company wa8 8ntitl8d 1¢ exemption Ircffi audit un¢Jer 8octK>n 477 of thè Companleg Act 2008, The dlrgctors ara aware Ihat.. (i) the members hpve not roqulrod tha company lo obtsift an audit of its awjunts for tho year in question in a¢cord8nc8 with sèction 476. (li) the directors acknowledge Ih8ir re8pcn8ibililie$ for wnplying with the requirement8 of the Act with respect to 8ccountiro racords and tho proparatit)n of accounts. {iii) th680 aco)unts hav• bn prepared In accordance the provisions applic8bl& lo companie8 8ul¥'ect lo the 8mJll Compan8, regim&. The a¢¢ounts have bean prepared in accordance with the Special pwsion$ relating lo small c(Jnpan8 ththIn th8 Cornpanies Act 2006. Approved by the trustees at a wmmittee meeting held on 15th Jully 2024 and Signed on their behalf by: Director Chris Matrum Director
THE MUSEUM OF LEATHERCRAFT (A Company Limited By Guarantee) Page 9 PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 31st DECEMBER 2023 AGcounting Poli¢ies The financial stslements of the Charitable Company, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention and in accordanc8 with the Compani88 Act 2006 and the Statement of R8commended Practice SORP (FRS 1021 issued on 1 st October 2019. applicable UK Accounting Slandards and the ChaTities Ad 2011. Format The company ha5 taken advantage of the provisions of the Companiès Act 2006 and presented an income and expendityre account in the form of a Ststement of Financial Activities on the grounds that it enables the financial statements to show a true and fair view of the result for the year. Fund accounting G8neral fund8 are unrestricted funds which are available for use al the di5Gretion of the trustees in furtheranR of the general objectives of the charity which have not been designated fgr pther purposes. Designated funds o)mprise unrestricted Ivnés Ihst have been set aslde by the trustees for particular purpos. The aim and use of each designated funds is 8et out in the notes to the financial statements. Restrlcted furKls are funds which are to be used in a¢cordanc8 wth specific restrictions Imposed by the donors or which have been raised by the charity for particular purposes. ID¢omln9 mources All incoming r880urces 8re included in the SOFA when the charlty Is legally enlltled to the income and the amount can be quantified with reasonable accuracy. Grants are brought into a¢counl on a receivable basis. Deferred income represents amounts received for future periods and is released to incoming resouices in the period for which it has been re¢eiveé. R¢8our¢es expended All expenditure 18 acccunted for Cn an accrual8 basis and has been classified under headings that aggregate all costs ielaled to the category. Expenditure is stated inclusive of value add•d tax. - Cost of Generating Funds are those costs incurred in attracting voluntsry income. - Charitable Activities include expenditure associated with direct $eNi¢es and membership support. - Governance Costs include those incurred in the govemance of the Charity and its a88ets. Tangiblg fix a890ts and déprnclatlon Dèpreclation Is calculated to write down the cost of all tangible fixed assets by instalments over the expected useful lives. The period generally applicable are". Equipment Fixtures and fittings Computer Equipment 25OA reducing b8lence 25% reducing balance 25% reducing balance Intsngible incom• Intsngible income. in the form of donatsd facilities and voluntary help otc., is not included in the financial 5tateffftnts Sin bt is not Consiéered practicable to quantify such income.
THE MUSEUM OF LEATHERCRAFT (A Company Limited By Guarantee) Page 10 PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 31st DECEMBER 2023 Res8rrfo8 The current reserve policy is lo maintain sufficient cagh flow for known wmmitments, and th¢ replacement of certain assets. Not all grants are received at the beginning of the financial year cthers are e1Ved in aTrears. Risk The directorsltiustees do not believe the organisation is subject to any substantial risk beyond those disclosed in the Annual Report and Accounts. Penslon costs: The Charity operates a pension schema in lin• with Current legislation.
THE MUSEUM OF LEATHERCRAFr Pag811 (A Company Limited By Guarants81 NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st DECEMBER 2Q23 Unrg9triGtod Rostrlctod 2023 2022 Donations and Legacleg Other Donations 2.828 2,82B 2,828 2,828 Income from Charitable Actlvltle8 Grants Worshipful Company of Saddlers Worshipful Company of Leatherse]lerfs Museums at Risk Skinners Malm6sbur Association of Independent Museums Gi18nder Foundation West Northants Council Other Grants Service charge reimbursed 8.566 50,000 8,568 50,000 15,000 3,000 2,000 300 5,000 1,500 12,149 97,615 4,000 30,850 15,000 3,000 2,000 300 5,000 1,500 12.149 20,000 24,298 2,339 81,287 20.300 Expendltvro on Charitable Activlties Employment costs External support Stsff expenses. travel etc. JTindwdinsJ we18 Postagè, stationery, freight Telephone Publicty, marketing Insurance Dther costs Volunteer Expen80S Con8eNation Professional Feas Depreciation utilbties Administretion Costs Prop&ty repair6 and maintsnance Premises improvement costs Service costs including rent Sudborough Foundation grant returned Equipment R&M Governance Accountancylpayroll fees Independent Examination 28,967 100 1,946 994 28.967 3.300 35.874 3,200 826 910 1.2WJ 955 7,371 1,808 283 680 1,608 283 680 1,51b 451 8,000 8.000 690 277 3.028 5,654 5,075 6.028 3,540 690 277 3,028 5,654 5,075 6,719 327 2,476 22,245 22.245 18,888 6,080 270 270 1.08D 985 82,697 1,080 985 87,044 1,200 1,193 95,814 4,347
THE MUSEUM OF LEATHERCRAFT (A Company Limited By Guarantee) Page 12 NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st DECEMBER 2023 Unr•strithd Restlicted 2023 2022 Tru$tqe3 and Employmerrt Wages and salaries NIER Pension costs Travel 28,532 28,532 35,407 435 435 467 28,967 2B.967 35,874 There Are no employee being p8id in exeess of £60,000 per annum. The average number of full time employ888 during th8 year was: 1. {2022'.1.51 During the year the trustees re¢elved £nil in remuneTation. (2022 £nil) The lotal expendbture reimbursed to trustees amounted to £nil.12022'. £nil) Flxed Assots: Plant & Machlnery Flxtur•8 Comput•r & Flttlngs Equlpment Total Cost Brought forward Additions Disposal$ Carried fonvard 1,852 20,255 1,028 22.935 1,652 20,255 1.028 22,935 Depreciatloft Brought forward Charge for year Disposals Carried forward 1,645 19,224 258 21,829 277 17 1,847 19,482 977 22,108 Nel Book Value Balance at 31.12.23 773 828 Balan at 31.12.22 1,375 1,105 2023 2022 D8btorB Trade Debtors HMRC Prepayments 2,031 2,031 7,308 7.308 Credltor4 - Amounts falllng due wlthln one year Sundryrrrade creditors Accruals Tax & Social security costs (689) (939) (282) (892) 241) (1,415) (1,628)
THE MUSEUM OF LEATHERCRAFT Page 13 (A Company Limrted By Guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st DECEMBER 2023 R05talod Balance 01.01.23 Tran¥f•r Movemenl between Out nds Movement In Balance 31.12.23 Unrestrlcted and Deslgnated Reserves Unrestrictgd - general rgserve l)eslgnated Saddlers Company Phillips Charitsble Trust Donation Lampard Radcliffe Trust Provincial Grand Charity Kathy Callow Grant Daphne Bullard Aurelius Charitable Trusl 3,328 80,043 175.163) 5,000 13,208 1.072 5,000 1,827 2,905 2.520 275 (1.072) <5,000) 1.827 1,282 (1.6231 (2,520) 12751 (544) 1.500 82,697 1,500 18,971 80,043 16.317 saddrs Company - provide ftjnds for the restoration of artefacts Ihat incluée a saddles. Phillips Charitable Trust- contribution towards the costs of the recollection$ exhibition. Donation Lampard donaticn towards the cost of repacking the Museum's glove collection. Radcliffe TruBt- contribution towarés the conservation of the Kite collaction. Provencal Grand Charity - for the conservation of Masonic iiem5 held by the Museum. Kathy Callow grant is for the purchaBe of conservation grade packing materials. Daphno Bull8rd orant is for the purchase of hat boxes for the hat collection. Aurelius Charitable Trust funds are for the conservation of the Kite collection. Restricted Funds There were no rastrlctftd funds In 2022. Balance Movement Movem8nt bet4Yeen Out fund% Balance 31.12.23 Q1.Ql.23 Museums at Risk Gilders Foundation Skinners Independerrt Museums 15,000 300 3,000 2,000 20,300 (1.1471 (3001 (9001 2.000 13,853 2,11)0 Museums at Risk-contribulion towards associated costs with Museum transfer. Gliders Foundation- funds towarés wages and expense. Skinners Granl - funds for tho preservation of fur collection. Independent Museums - to cover wages and expenses. 10 Related Party Transactlon8 There are no relat1 paty transactions in the QJTrenl year or In 2022. 11 uitlmate Controlling Party The charitabb company is under the ultimate control of its trustees, who are also the director5, ané whose names are shown at the front of the financial statsments.