##
|Directors|C Gore|
|---|---|
||A Shepherd|
||AGriffiths|
||S Balmer|
||J Higgins|
||DrTMunford|
||R Scott|
||A.Perng|
|Secretary|AShepherd|
|Charitynumber|328725|
|Companynumber|02499752|
|Registered office|12Bennett Street|
||Bath|
||BA12QJ|
|Auditor|Ferguson Maidment&Co.|
||81hFloor|
||167Fleet Street|
||London|
||EC4A2EA|
|Bankers|Lloyds Bank|
||47Milsom Street|
||Bath|
||BA11DN|
|Investment Managers|Brewin Dolphin Ltd|
||St James House|
||St James Square|
||Cheltenham|
||GL503PR|
##
||**Page**|
|---|---|
|Directors' report|1 - 7|
|Statement of Directors' responsibilities|8|
|Independent auditor's report|9 - 11|
|Statementoffinancial activities|12|
|Balance sheet|13|
|Notes to the financial statements|14 - 25|
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|**Unrestricted**
**Endowment**
**Restricted**
**funds**
**funds**
**funds**
**Income from:**
**Notes**
£
£
£
Donations and legacies
**3**
454
474
3,514
Charitable activities
**4**
12,136
Other trading activities
**5**
29,775
Investments
**6**
349,184
Insurance claim proceeds
Government grant
**7**
**Total income**
391,549
474
3,514
**Ex12enditures on:**
**Notes**
Raising funds
Fundraising
**8**
1,077
Trading costs
**8**
31,326
73
Investment management
**8**
1,435
23,266
Insurance claim expenses
**8**
33,838
23,266
73
Charitable activities
**9**
320,816
4,031
**Total resources expended**
354,654
23,266
4,104
Net gains/(losses) on
investments
**13**
81 ,535
Net (outgoing)/incoming
resources before transfers
36,895
58,743
(590)
Transfer
{834}
834
**Net(expenditure)/income for theyear/**
**Netmovementin funds**
36,061
59,577
(590)
**Fund balancesat1 April 2022**
171,682
7,307,661
239,372
**Fund balancesat31March 2023**
207,743
7,367,238
238,782|**Total**
**2023**
£
4,442
12,136
29,775
349,184|**Total**
**2022**
£
118,063
10,522
28,670
310,328
28,363
18,918|
|---|---|---|
||395,537
1,077
31,399
24,701
57,177
324,847
382,024
81,535
95,048|514,864|
|||2,078
29,861
26,005
1,145|
|||59,089|
|||301,770|
|||360,859|
|||56,288|
|||210,293|
||95,048
7,718,715
7,813,763|210,293
7,508,422|
|||7,718,715|
##
|**Fixed assets**
Tangible assets
Investments at
**Current assets**
Stocks
Debtors
Cash at bank andinhand
**Creditors: amount falling due**
**within one year**
Net current assets
**Total assets less current**
**liabilities**
**Income funds**
Restricted funds
Endowment funds
Designated funds
Unrestricted funds
**Notes**
14
cost
15
value
16
17
18
19
20
21|**2023**
£
5,960,564
517,409|**2023**
£
5,960,564
517,409|
£
902,396
6,477,973|**2022**
£
5,865,922
552,700|**2022**
£
5,865,922
552,700|**2022**
£
5,865,922
552,700|
£
913,728
6,418,622
7,332,350
386,365
7,718,715|
|---|---|---|---|---|---|---|---|
||12,500
60,093
408,455
481,048
(47,654)|
||12,244
51,621
377,574||
||
||||7,380,369
433.394|||||
|||||441,439
(55,074)||
||
||||7,813,763
238,782
7,367,238
207,743
7,813.763|||||
||||||||239,372
7,307,661
171,682
7,718,715|
|||||||||
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|Freehold|landandbuildings|Freehold buildings - no depreciationisprovided onthe|
|---|---|---|
|||grounds the asset has a very long useful life, a high residual|
|||value,issubject to a programme of maintenanceand|
|||accordingly, annual depreciation would notbematerial.|
|||Freehold land is not depreciated|
|Fixtures|and fittings|Between 2% and 20% per annumofcost|
|Library||Not depreciated|
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|3
Donations and legacies||||||
|---|---|---|---|---|---|
|Unrestricted
Endowment
funds
funds
designated
£
£
Donationsandgifts
454
Legacies
474
454
474
For the year ended
31March 2022
398
104,470
4
Charitable activities
Admission Charges
Events
Education
Membership subscriptions
5
Othertradingactivities
Shop income
Image copyright sales
Other income
Other trading activities
6
Investments
Income from listed
investments
Interest receivable
7
Governmentgrantincome
Coronavirus Job Retention Scheme
Grant
Coronavirus Government Business support
Restricted
funds
£
3,514
3,514
13,195||Unrestricted
Endowment
funds
funds
designated
£
£
454
474
Restricted
funds
£
3,514|Total
2023
£
3,968
474
4,442
2023
£
9,286
1,083
345
1,422
12,136
2023
£
28,772
186
817
29,775
2023
£
343,670
5,514
349.184
2023
£||Total
2022
£
13,593
104,470
118,063|
||||||118,063|
||||||2022
£
8,066
882
1,574
10,522|
|||||||
||||||2022
£
26,927
830
913
28,670|
||||||2022
£
310,197
131|
||||||310,328
2022
£
8,251
10,667
18,918|
|||||||
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##
##
|**Raising funds**||||||
|---|---|---|---|---|---|
|Fundraising andPublicity||**Unrestricted**
**funds**
£
1,077
**Endowment**
**funds**
£|
**Restricted**
**Total**
**funds**
**2023**
£
1,077||**Total**
**2022**
£
2,078
16,957
12,904|
|Staff costs
Trading costs
Other trading activities
Staff costs
Investment management
Insurance claim expenses
**For theyearended31March 2022**
Fundraising and publicity
Trading costs
Investment management
Insurance claim expenses||||||
|||15,866
15,460|73
15,939
15,460
73
31 ,399|||
|||31 ,326|||29,861
26,005
1,145
59,089|
|||1,435
23,266|
24.701
73
57,177|||
|||||||
|||33,838
23,266||||
|||2,078
29,861
1,511
1,145
24,494|||2,078
29,861
26,005
1,145
59,089|
|||34,595
24,494||||
|**Charitable activities**
Staff costs
Depreciation
Advertising and PR
Collection care
Property costs
Travel and expenses
Legal and professional
Subscriptions
Training and consultancy
Office costs
Bank charges
Education
Exhibition
Artefact insurance and storage
Shareofgovernance costs
(see note 10)|**2023**
£
211,003
11,332
3,661
5,094
30,443
1,266
1,967
409
16,191
13,138
66
1,182
7,219
17,516
320,487
4,360
324,847||**2022**
£
185,607
11,512
1,467
3,136
40,736
1,192
1,216
505
11,714
14,662
143
1,543
4,938
19,594
297,965
3,805
301 ,770|
|---|---|---|---|
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##
|Supportcosts|||||
|---|---|---|---|---|
|Audit fees
Analysed between Charitable
activities||Support
Governance
Costs
Costs
£
£
4,360
4,360|2023
£
4,360
4,360|2022
£
3,805
3,805
Basisof
allocation
Governance|
|||4,360|4,360||
##
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##
|Numberofemployees|||
|---|---|---|
|Curator
Visitor Services
Administration
Education
Security
Employmentcosts
Wages and salaries
Social security costs
Other pension costs|2023
Number
2
3
1
7
2023
£
183,773
11,360
8,247
203,380|2022
Number
4
1
1|
|||8|
|||2022
£
180,865
11,230
8,494|
|||200,589|
##
##
##
|**Net gains/(losses)oninvestments**|||
|---|---|---|
|Gain/(loss) on saleof
investments
PEF
EEF
Unrealised
gains/(losses)
EEF|**2023**
£
116,826
11,984
(47,275)
81 ,535|**2022**
£
17,685
(1,068)
39,671|
|||56,288|
##
|**Cost**
At 1 April 2022
Acquisitions
Disposals
At31March 2023
**Depreciation and impairment**
At 1 April 2022
Disposals
Depreciation charged
inthe year
At31March 2023
**Carrying amount**
At31March 2023
At31March 2022||**Freehold**
**Assets under**
**land and**
**construction**
**buildings**
£
£
224,239
668,638
224,239
668,638
55,866
55,866
224,239
612.772
224,239
612,772
**Fixtures and**
**Library**
**Total**
**fittings**
£
£
£
568,462
51,250
1,512,589
568,462
51,250
1,512,589
542,995
598,861
11**.**. 332
11,332
554,327
610,193
14,135
51 ,250
902,396
25.467
51,250
913,728|
|---|---|---|
||||
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##
##
|Fixedassetinvestments||||
|---|---|---|---|
|PermanentEndowmentFundatcost
At 1 April 2022
Incoming resources
Additions
Sales proceeds
Gains/ (Losses)
Fees and outgoings
At31March 2023
At31March 2022
EmergencyEndowmentFundatmarketvalue
At 1 April 2022
Incoming resources
Additions
Sales proceeds
Realised Gains/ (Losses)
Fees and outgoings
Unrealised gains/ (Losses)
At31March 2023
At31March 2022||Listed
Cashin
investments
portfolio
£
£
5,765,283
100,639
6,485
301,986
(301,986)
(395,976)
395,976
116,826
{234}
{28,435)|Total
£
5,865,922
6,485
116,826
{28,669}
5,960,564
5,865,922
552,700
11,984
{47,275}
517,409
552,700|
|||5,787,885
172,679||
|||5,765,283
100,639||
|||531,358
21,342
26,020
(26,020)
(57,558)
57,558
11,984
(47,275}||
|||464,529
52,880||
|||531,358
21 ,342||
##
|Finished goods and goods for resale
Less: Provision for obsolete stock
Debtors
Amountfalling duewithinone year:
Other debtors
Prepayments and accrued income|2023
2022
£
£
12,662
12,406
(162)
{162}
12,500
12,244
2023
2022
£
£
36,392
27,508
23,701
24,113
60,093
51,621|
|---|---|
##
##
|Creditors|||
|---|---|---|
|Amountfalling duewithinone year:
Other taxation and social security
Trade creditors
Accruals and deferred income|2023
£
26,030
21 ,624
47,654|2022
£
5,067
25,775
24,232|
|||55,074|
##
##
##
|MEAA Metalware conservation project
MEAA Emergency Appeal
The Reimaging Project fund
L.G Harris Trust Security
Enhancements
L.G Harris Trust Photographyof
collection
Medlock Charitable Trust Flexible
display space at Museum galleries
B&NES Heritage services Improving
Audience Engagement
AIM Brighter Day Grant Environmental
Monitoring and Improvements|**Balanceat**
**Incoming**
**Resources**
**Transfers**
**Balanceat**
**1 April 2022**
**Resources**
**Expended**
**31March**
**2023**
£
£
£
£
£
24,353
24,353
10,158
201
(10,359)
195,476
86
(135)
10,359
205,786
5,269
(2,598)
2,671
3,800
3,800
316
(316)
1,055
(1,055)
2,172
2,172|
|---|---|
||239,372
3,514
(4,104)
238,782|
##
##
##
##
|Permanent Endowment fund
Gift from Franklin Tusu's Estate
Special capital reserve
Emergency Endowment fund|**Balance at**
**1 April 2022**
£
5,860,988
884,620
9,352
552,701
7,307,661|**Balance at**
**1 April 2022**
£
5,860,988
884,620
9,352
552,701
7,307,661|**Movementinfunds**
**Incoming**
**Resources**
**Transfers**
**Resources**
**Expended**
£
£
£
1,308
(23,266)
1,308
(23,266~
**Balance at**
**Revaluations**
**31March**
**gains/losses**
**2023**
£
£
116,826
5,955,856
884,620
9,352
{35,291)
517,410
81 ,535
7,367,238|
|---|---|---|---|
|||7,307,661||
##
|Fund balances at31March 2023 are
represented by:
Tangible assets
Investments
Current assets/(liabilities)||**General**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
£
£
£
14,135
888,261
6,477,973
193,608
238.782
1.004
207,743
238,782
7,367.238
**Total**
£
902,396
6,477,973
433,394
7,813,763|
|---|---|---|
||||
##