2022-03-31-accounts - The Museum Of East Asian Art

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Directors	Directors		B McElnsy
			C Gore
			B Hutton
			A Shepherd
			A Griffiths
			S Balmer
			J Higgins
			Dr7 Munford
			R Scott
Secretary			B Hutton
Charity	number		328725
Company		number	02499752
Registered		office	12 Bennett Street
			Bath
			BA1 2QJ
Auditor			Ferguson Maidment		&Co.
			8e Floor
			167Fleet Street
			London
			EC4A 2EA
Bankers			Lloyds Bank
			47 Milsom Street
			Bath
			BA1 1DN
Investment		Managers	Brewin Dolphin	Ltd
			StJames House
			StJames Square
			Cheltenham
			GL50 3PR

			Page
Directors' report			1-7
Statement of Directors'		responsibilities
Independent auditor's		report	9-11
Statement of financial		activities	12
Balance sheet			13
Statement of cash flows			14
Notes to the financial	statements		15-27

			Unrestricted	Endowment	Restricted	Total	Total
			funds	funds	funds	2022	2021
Income from:	Notes		8	2	2	8	2
Donations and legacies			398	104,470	13,195	118,063	603,632
Charitable activities			10,522			10,522	2,357
Other trading activities			28,670			28,670	3,443
Investments			310,328			310,328	270,649
Insurance claim proceeds			28,363			28,363
Government grant			18,918			18,918	5' 532
Total income			397199	104470	13,195	514,864	939613
~Ex n i~tur n,	Notes
~Ri1 7 0
Fundraismg			2,078			2,078
Trading costs			29,861			29,861	23,213
Investment management			1,511	24,494		26,005	23,249
Insurance claim expenses			1 145			1,145	4198
			34,595	24494		59089	50658
Charitable activities		9	286,719		15051	301 770	249 194
Total resources expended			321,314	24,494	15,051	360,859	299,852
Net gains/(losses) on
investments	13			56,288		56,288	73,814
Net (outgoing)/incoming
resources before transfers			75,885	136,264	(1,856)	210,293	713,575
Transfer			191,828		191,828
Net (expenditure)/income	for the	year
Net movement in funds			(115,943)	136,264	189,972	210,293	713,575
Fund balances at 1 April 2021			287625	7171,397	49,400	7,508,422	6,794,847
Fund balances at 31 March 2022			171,682	7,307,661	239,372	7,718,715	7,508,422

					2022		2021
Fixed assets				Notes		2		2
Tangible assets				14		913,728		922,620
Investments	at		cost	15	5,865,922		5,819,884
			value		552,700		457 202
						6,418,622		6,277,086
						7,332,350		7,199,706
Current assests
Stocks				16	12,244		11,188
Debtors				17	51,621		46,890
Cash at bank and in hand					~77 574		289,933
					441,439		348,011
Creditors: within one	amount year	falling due		75	~5~,074		39,295
Net current	assets					386,365		308,716
Total assets less current
liabilites						7,718,715		7,508,422
Income funds
Restricted funds				19		239,372		49,400
Endowment	funds			20		7,307,661		7,171,397
Designated	funds			21				164,611
Unrestricted	funds					171,682		123,014
						7,718,715		7,508,422

					2022	2021
				Notes
Net Incomings/(Outgoings) from		Activities			210,293	713,575
Add: Non-cash items
Depreciation				14	11,512	25,011
Loss on disposal offixed	assets					371
Less:Endowment funds					(136,234)	(653,924)
Dividends					(310,328)	(270,649)
Adjustment re gains and	other non-cash
investment activities					4,350	10,477
Cash used prior to capital injection,			investment
activities and operations					(220,407)	(175,139)
Cash from capital injection: legacy					104,470	600,000
Cash generated from investment		activity
Dividends Sale of investments Purchase of investments Investment management	fees (PEF)				310,328 322,236 (417,973) (28.687)	270,649 576,658 (1,358,002) (28,874)
Total					185,9tl4	~539,569
Application of Cash in Operational			Activities:
Purchase offixed assets Increase in stock Increase/(decrease) in debtors Decrease in creditors				14 16 17 18	(2,620) (1,056) (4,731) 15,779	(13,634) (3,971) (1,756) (5,209)
Total					7,372	(24,570)
Net (Decrease)/Increase in Cash					77,339	(139,278)
Cash at 1 April					422,216	561,494
Cash at 31 March					499,555	422,216
Composition of cash balances at		31 March			377,574	289,933
Cash at bank					100,639	121,640
PEF cash with investment manager					21,342	10,643
Total					499,555	422,216

3	Donations	and legacies	and legacies
				Unrestricted			Endowment	Restricted	Total	Total
				funds			funds	funds	2022	2021
							designated
					2				6
	Donations	and gifts				398		13,195	13,593	3,632
	Legacies						104470		104,470	600,000
						398	104,470	13,195	118,063	603,632
	For the year		ended
	31 March 2021				1	484	600 000	2 148		603,632
4	Charitable	activities							2022	2021
									2	2
	Admission	Charges							8,066
	Events								882		865
	Education
	Membership		subscriptions						1,574	1	492
									10,522	2,357
5	Other trading activities								2022	2021
									2	2
	Shop income								26,927	3,151
	Image copyright sales								830		292
	Other income								913
	Other trading		activities						28,670	3,443
6	Investments								2022	2021
									6	6
	Income from		listed
	investments								310,197	270,382
	Interest receivable								131		267
									310,328	270,649
7	Government		grant income						2022	2021
									6	6
	Coronavirus		Job Retention	Scheme
	Grant								8,251	40,101
	Coronavirus		Government	Business	support				10,667	19431
									18,918	59,532

8	Raising funds
				Unrestricted	Endowment	Total	Total
				funds	funds	2022	2021
	F drasin an	Publid
	Staff costs			2078		2078
	~TCh M
	Other trading activities			16,957		16,957	6,148
	Staff costs			12904		12904	17065
				29,861		29661	23,213
	Investment mana	ement		1,511	24494	26Q03	23249
	Insurance claim ex en e			1 145		1,145
				34,595	24,494	59,089	46,462
	For the year ended 31 March 2021
	Fundrasing and publicity
	Trading costs			23,213			23,213
	Investment management			1,290	21,959		23,249
				24 503	21,959		46,462
9	Charitable activities					2022	2021
						2	2
	Staff costs					185,607	161,394
	Depreciation					11,512	25,382
	Advertising and PR					1,467	403
	Collection care					3,136	3,372
	Property costs					40,736	18,221
	Travel and expenses					1,192	96
	Legal and professional					1,216	1,250
	Subscriptions					505	715
	Training and consultancy					11,714	3,139
	Office costs					14,662	10,437
	Bank charges					143	39
	Education					1,543	635
	Exhibition					4,938	1,385
	Artefact insurance	and storage				19,594	19,476
						297,965	245,944
	Share of governance		costs (see note 10)			3,805	3250
						301770	249194

Support	costs
			Support	Governance	2022	2021	Basis of
			Costs	Costs			allocation
Audit fees				3805	3805	3250	Governance
				3,805	3,805	3,250
Analysed	between	Charitable
activities				3,805	3,805

Number ofe	mployees
		2022	2021
		Number	Number
Curator
Visitor Services
Administration
Education
Security
		8	8
Employment	costs
		2022	2021
		2	2
Wages and salaries		180,865	161,487
Social security	costs	11,230	8,957
Other pension	costs	8494	8,015
		200,589	178,459

13	Net gains/(l		osses) on investmen	ts
							2022	2021
							2	2
	Gain/(loss)	on sale of
	investments		PEF				17,685	420
			EEF				(1,068)	(12,698)
	Unrealised
	gains/(losses)		EEF				39671	86092
							56,288	75.814
14	Tangible fixed assets
				Freehold	Assets under	Fixtures and	Library	Total
				land and	construction	fittings
				buildings
	Cost
	At 1 April 2021			224,239	668,638	566,832	51,250	1,510,959
	Acquisitions Disposals					2,620 990		2,620 ~990
	At 31 March		2022	224,239	668638	568,462	51,250	1,512589
	Depreciation		and impairment
	At 1 April 2021				55,866	532,473		588,339
	Disposals					(990)		(990)
	Depreciation		charged
	in the year					11,512		11,512
	At 31 March		2022		55,866	542,995		598 861
	Carrying amount
	At 31 March		2022	224,239	612,772	25,467	51,250	913,728
	At 31 March		2021	224,239	612,772	34,359	51,250	922,620

Fixed asset investments
		Listed	Cash in	Total
		investments	portfolio
Permanent Endowment	Fund atcost
At 1 April 2021		5,698,244	121,640	5,819,884
Incoming resources			57,227	57,227
Additions		359,101	(359,101)
Sales proceeds		(309,560)	309,560
Gains/ (Losses) Fees and outgoings		17,685 187	(28,687)	17,685 ~28,874
At 31 March 2022		5,765,283	100,639	5,865,922
At 31 March 2021		5,698,244	121,640	5,819,884
Emergency Endowment	Fund at market value
At 1 April 2021		446,559	10,643	457,202
Incoming resources			56,895	56,895
Additions		58,872	(58,872)
Sales proceeds		(12,676)	12,676
Realised Gains/ (Losses)		(1,068)		(1,068)
Fees and outgoings
Unrealised gains/ (Losses)		39,671		39671
At 31 March 2022		531,358	21,342	552,700
At 31 March 2021		446.559	10,643	457 202

16	Stocks
					2022	2021
					2	2
	Finished goods and goods for resale Less: Provision for obsolete stock				12,406 ~162	11,350 ~162
					12,244	11,188
17	Debtors
					2022	2021
	Amount	falling due		within one year:	2	2
	Trade debtors					168
	Other debtors				27,508	23,856
	Prepayments		and accrued income		24,113	22,866
					51,621	46,890
18	Creditors
					2022	2021
	Amount	falling due		within one year:	8	8
	Other taxation		and social security		5,067	3,155
	Trade creditors				25,775	26,247
	Accruals	and	deferred	income	24,232	9,893
					55,074	39,295

				Balance at	Incoming	Resources	Transfers	Balance at
				1 April 2021	Resources	Expended		31 March
								2022
								2
MEAA Metalware conservation			project	24,353				24,353
MEAA Emergency Appeal				9,732	426			10,158
The Reimaging	Project fund			3,646			191,828	195,476
L.G Harris Trust	Security
Enhancements				7,867		(2,598)		5,269
L.G Harris Trust	Photography		of
collection				3,800				3,800
West of England	combined	authority
Creative Business Grant					7,144	(7,144)
Medlock Charitable Trust		Flexible
display space at	Museum	galleries			3,000	(2,684)		316
West of England	combined	authority
Creative Growth	Grant				2,625	(2,625)
				49400	13,195	15,051	191,828	239,372

						Movement	in funds
									Balance at
				Balance at 1 April 2021	Incoming Resources	Resources Expended	Transfers	Revaluations gains/losses	31 March 2022
				2	2	8	2	2	2
Permanet	Endowment		fund	5,815,222	52,575	(24,494)		17,685	5,860,988
Gift from Franklin		Tusu's Estate		884,620					884,620
Special capital reserve				9,352					9,352
Emergency	Endowment		fund	462,203	51 895			38,603	552,701
				7,171,397	104,470	24,494		56,288	7,307,661

				Movements	in	funds
		Balance at	Incoming	Resources		Transfers	Balance at
		1 April
		2021	Resources	Expended			31 March 2022
		2	f	2		2	8
Designated	funds	164611	25,862		211	190262
		164,611	25 862		211	190,262

Analysis of net assets between funds
	General	Restricted	Endowment	Total
	funds	funds	funds
Fund balances at 31 March 2022 are
represented by:
Tangible assets	25,467		888,261	913,728
Investments			6,418,622	6,418,622
Current assets/(liabilities)	146,215	239372	778	386365
	171,682	239,372	7307661	7,718,715