2021-03-31-accounts

Directors	Directors		B McElney	B McElney
			C Gore
			BHutton
			A Shepherd
			A Griffiths
			S Balmer
			J Higgins
			Dr7 Munford
			RScott
Secretary			B Hutton
Charity	number		328725
Company		number	02499752
Registered		office	12 Bennett Street
			Bath
			BA1 2QJ
Auditor			Ferguson	Maidment	&Co.
			Be Floor
			167Fleet	Street
			London
			EC4A 2EA
Bankers			Lloyds Bank
			47 Milsom	Street
			Bath
			BA1 1DN

			Page
Directors' report			1-6
Statement of Directors'		responsibilities
Independent auditor's		report	8-10
Statement of financial		activities
Balance sheet			12
Statement ofcash flows			13
Notes to the financial	statements		14 - 27

		Unrestricted	Endowment	Restricted	Total	Total
		funds	funds	funds	2021	2020
7	Notes	2	2	2	2	2
Donations and legacies	3	1,484	600,000	2,148	603,632	11,414
Allocation to correct account						9,651
Charitable activities		2,357			2,357	13,305
Other trading activities		3,443			3,443	23,650
Investments		270,649			270,649	283,430
Insurance claim proceeds
Government grant	7	59532			59532
Total income		337465	600,000	2148	939,61~	341450
~Ex ~nitur IL(mr 22aaff 0	Notes
Fundraising						7,721
Trading costs		23,213			23213	32769
Investment management		1,290	21,959		23,249	24,002
Allocation to correct account						9,651
Insurance claim expenses		4 196			4 196	10,883
Charitable activities	9	28,699 233,570	21 959 2 808	12,816	50,658 249,194	85026 305 76'
Total resources expended		262,269	24,767	12,816	299,852	390786
Net gains/(losses) on
investments			73,814		73,814	8888
Net (outgoing)/incoming
Resources before transfer		75,196	649,047	(10,668)	713,575	(42,648)
Transfer		4877	4,877
Net (expenditures)/income	for the year/
net movement in funds		70,319	653,924	(10,668)	713,575	(42,648)
Fund balances at 1 April 2020		217.306	6.517,473	60,068	6,794,847	6,837,495
Fund balances at 31 March	2021	287,625	7,171,397	49,400	7,508,422	6,794,847

					2021		2020
Fixed assets				Notes		f	f
Tangible assets				14		922,620	934,368
Investments	at		-cost	15	5,819,884		5,234,435
			-value		457,202		382,057
						6,277,086	5,616,492
						7,199,706	6,550,860
Current assets
Stocks				16	11,188		7,217
Debtors				17	46,890		45,134
Cash at bank and in
hand					289,933		236,140
					348,011		288,491
Creditors: within one	amount year	falling	due	18	~39.293		44,504
Net current	assets					308,716	243,987
Total assets less current
liabilities						7,508,422	8794847,	,
Income funds
Restricted funds				19		49,400	60,068
Endowment	funds			20		7,171,397	6,517,473
Designated	funds			21		164,611	168,807
Unrestricted	funds					123914	48,499
						7,508,422	6,794,847
							&-' C~»

					2021	2020
				Notes
Net Incomings/(Outgoings)	from	Activities			713,575	(42,648)
Add: Non-cash items
Depreciation				14	25,011	33,212
Loss on disposal offixed assets					371	5,712
Less:Endowment funds					(653,924)	15,414
Dividends					(270,649)	(283,430)
Adjustment re gains	and other non-cash
investment activities					(18,397)	(22,101)
Cash used prior to capital injection,			investment
activities and operations					(204,013)	(293,841)
Cash from capital injection:	legacy				600,000
Cash generated from investment		activity
Dividends					270,649	283,430
Sale of investments					576,658	1,098,753
Purchase of investments					(1,358,002)	(965,730)
Total					(510,695)	416,453
Application of Cash in Operational			Activities:
Purchase offixed assets				14	(13,634)	(7,632)
Increase in stock				16	(3,971)	(2,044)
Increase/(decrease) in debtors				17	(1,756)	117,181
Decrease in creditors				18	(5,209)	(4,561)
Total					24570	102944
Net (Decrease)/increase in	Cash				(139,278)	225,556
Cash at 1 April					561,494	335,938
Cash at 31 March					422,216	561,494
Composition of cash balances at 31 March
Cash at bank					289,933	236,140
PEFcash with investment manager					121,640	305,311
EEFcash with investment manager					10,643	20,043
Total					422,216	561,494

3	Donations	a	nd	legacies
					Unrestricted	Endowment	Restricted	Total	Total
					funds	funds	funds	2021	2020
						designated
					2	8
	Donations	and		gifts	1,484		2,148	3,632	11,415
	Legacies					600,000		600,000
					1,484	600,000	2,148	603,632	11,415
	For the year		ended 31 March 2020		1,596		9,819		11,415
4	Charitable	activities						2021	2020
	Admission	charges							8,500
	Events							865	2,280
	Education								897
	Membership		subscriptions					1,492	1,628
								2,357	13,305
5	Other trading		activities
								2021	2020
	Shop income							3,151	21,122
	Image copyright			sales				292	747
	Other income								1,781
	Other trading		activities					3,443	23,650
6	Investment	income
								2021	2020
								2
	Income from		listed investments					270,382	282,416
	Interest receivable							267	1,014
								270,649	283,430

Government	grant incom	e
			2021	2020
Coronavirus	Job Retention	Scheme Grant	40,101
Coronavirus	Government	Business support	19,431
			59,532

Raising funds	Raising funds		Unrestricted funds	Endowment funds	Total 2021	Total 2020
			2	2	f
F nd isin	and Publici
Staff costs						7,721
T~ICh
Other trading activities			6,148		6,148	12,487
Staff costs			17,065		17,065	20,282
Trading costs			23,213		23,213	32,769
Investment	mana	ament	1,290	21,959	23,249	24,002
			24,503	21,959	46,462	64,492
For the year ended 31 March 2020
Fundraising	and	publicity	7,721			7,721
Trading costs			32,769			32,769
Investment	management		1,309	22,693		24,002
			47,799	22,693		64,492

				2021	2020	2020
				f	2
Staff costs				161,394	177,210
Depreciation				25,382		33,212
Advertising	and PR			403		5,894
Collection care				3,372		10,005
Property costs				18,221		27,851
Travel and expenses				96		3,098
Legal and professional				1,250		1,335
Subscriptions				715		712
Training and	consultancy			3,139		2,402
Office costs				10,437		8,662
Bank charges				39		125
Education				635		3,347
Exhibition				1,385		6,895
Film						802
Artefact insurance		and storage		19,476		18,735
				245,944	300,285
Share of governance			costs (see note 10)	3,250		5,475
				249,194	305,760

Support	costs
		Support	Governance	2021	2020	Basis of allocation
		Costs	Costs
		2	2	2	2
Audit fees			3,250	3,250	5,475	Governance
			3,250	3,250	5,475
Analysed	between
Charitable	activities		3,250	3,250	5,475

Number of employees	Number of employees				2021	2020
The average monthly	number	employees	during	the year was:	Number	Number
Curator						1
Visitor Services						2
Administration						3
Education						2
Security						1
Employment costs					2021	2020
					2	2
Wages and salaries					161,487	184,186
Social security costs					8,957	12,042
Other pension costs					8,015	8,985
					178,459	205,213

			2021	2020
			f	f
Gain/(loss)	on sale of investments	- PEF	420	77,526
		EEF	(12,698)	9
Unrealised	gains/(losses)	EEF	86,092	(70,847)
			73,814	6,688

Tangible fix	ed asset	s
			Freehold land	Assets under	Fixtures and	Library	Total
			and buildings	construction	fittings
						f	f
Cost
At 1 April 2020			224,239	668,638	556,146	51,250	1,500,273
Acquisitions					13,634		13,634
Disposals					(2,948)	-	(2,948)
At 31 March	2021		224,239	668,638	566,832	51,250	1,510,959
Depreciation	and impairment
At 1 April 2020				55,866	510,039		565,905
Disposals					(2,577)		(2,577)
Depreciation	charged	in the year			25,011		25,011
At 31 March	2021			55,866	532,473		588,339
Carrying amount
At 31 March	2021		224,239	612,772	34,359	51,250	922,620
At 31 March	2020		224,239	612,772	46,107	51,250	934,368

		Listed	Cash in	Total
		investments	porffolio
Permanent Endowment	Fund atcost
At 1 April 2020		4,929,124	305,311	5,234,435
Incoming resources			609,480	609,480
Additions		1,316,590	(1,316,590)
Sales proceeds		(546,509)	546,509
Gains/ (Loses)		420		420
Fees and outgoings		(1,381)	(23,070)	(24,451)
At 31 March 2021		5,698,244	121,640	5,819,884
At 31 March 2020		4,929,124	305,311	5,234,435
Emergency Endowment	Fund at market value
At 1 April 2020		362,014	20,043	382,057
Incoming resources			1,863	1,863
Additions		41,412 .	(41,412)
Sales proceeds		(30,149)	30,149
Realised Gains/ (Loses)		(12,698)		(12,698)
Fees and outgoings		(112)		(112)
Unrealised gains/ (Loses)		86,092		86,092
At 31 March 2021		446,559	10,643	457,202
At 31 March 2020		362,014	20,043	382,057

					2021	2020
					2	2
	Finished	goods and goods		for resale	11,350	7,339
	Less: Provision for obsolete			stock	(162)	[162)
					11,188	7,217
17	Debtors
	Amounts	falling due within one year:			2021	2020
					2	2
	Trade debtors				168	488
	Other debtors				23,856	22,011
	Prepayments		and accrued	income	22,866	22,635
					46,890	45,134

18	Creditors
	Amounts falling due		within	one year	2021	2020
	Other taxation	and social security			3,155	3,256
	Trade creditors				26,247	32,388
	Other creditors
	Accruals and deferred		income		9,893	8,860
					39,295	44,504

					Balance at	Balance at	Incoming	Incoming	Resources	Transfers	Balance at
											31 March
					1 April	2020	Resources		Expended		2021
					2		2		2		2
B8NES Eastern voices						370				(370)
B&NESArts project funding						9				(9)
Foyle Foundation						782			(782)
ACE small scale	capital grant					7638			(7,638)
Stephen Clark Charitable		Trust				100			(100)
Medlock charitable Trust						106				(106)
B&NES Heritage	- Improved		facilities for
volunteers						12				(12)
MEAA Metalware	conservation			project	24,353						24,353
MEAA Emergency	Appeal				8,897			835			9,732
The Reimaging Project fund					3,536				(385)	497	3,648
L.G. Harris Trust	Security
Enhancements L.G. Harris Trust	Photography			of	10,465				(2,598)		7,867
collection					3,800						3,800
SW Museum Development			Programme
Recovery grant for Digital		project					1,313		1,313
					60,068		2	148	12,816		49,400

			General	Restricted	Endowment	Total
			Funds	Funds	Funds
			2	2	2	2
Fund balances at 31 March 2021 are
represented		by:
Tangible	assets		34,359		888,261	922,620
Investments					6,277,086	6,277,086
Current	assets/(liabilities)		253,266	49,400	6,050	308,716
			287,625	49,400	7,171,397	7,508,422