Nantwich Museum Trust Limited Annual Report and unaudited Financial Statements For the year ended 31 March 2024
NANTWICH MUSEUM TRUST LIMITED Legal and administrative information Board Of Management H Cooke P G Groves l J Seaber . D Bowyer-Bates C Baxter T Evans J Park M T Habesch G Smith (Appointed 14 June 2023) (Appointed 14 June 2023) (Appointed 27 September 2023) (Appointed 27 September 2023) (Appointed 27 September 2023) S Bostock R M McKew A Pickton A Burton Secretary W R Graham Treasurer A Cooke Charity number 509386 Company number 1455850 Reglstered offlce The Nantwich Museum Pillory Street Cheshire CW5 5BQ Nantwich Independent examlner DJH Nantwich Limited 17 Alvaston Business Park Middlewich Road Nantwich CW5 6PF Bankers Natwest 36 High Street Nantwich Cheshire CW5 5GA
Nantwich Museum Trust Limited Contents Pjge Trustees, report statement of Trustees, responslbilltie5 Independent examlnerfs report statement of financlal actlvltles Summary Income and expenditure account Balance sheet 9-10 Notes to the financial ststements 11-23
Nantwich Museum Trust Limited Trustees, report (including directors. report) For the year ended 31 March 2024 The Board of Management present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordan with the accounting policles set out In note I to the financial statements and comply with the Trust's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). Objectlves and actlvltles The objectives for which the Trust Is establlshed are to advan the educatlon of the publlc In matters relating to the history, commerce, architecture and soclal and cultural development of Nantwich and its envlrons. In furtherance of these objectlves, the Trust has established and malntalns a museum. The Trust contlnues to develop the museum to create a Ilvelyi interactlve dlsplay whlch appeals to all ages, Regular temporary exhibltions are stsged to stimulate local interest and to complement school curricula. The Trust employs a full time Manager, a Learning and Engagement offlcer, a part tlme administrator and a paid Saturday asslstant. These are asslsted by a large number of volunteers. The Board of Management have pald due regard to guidance Issued by the Charlty Commlsslon In decldlng what actlvltles the Trust should undertake. Achievements and performance 2023 was a very busy year at Nantwich Museum wlth lots of highlights. In particular we ran an ambitious Summer of Sclence project, welcomed new volunteers (Includlng four new trustees), acquired new objects, and further developed our permanent exhibitions. We welcomed the new members of staff Includlng the recruitment of Kerry Kirwan to a new Learnlng & Engagement role. We have excltlng plans for the future and have made slgnlflcant progress in worklng towards achieving our key alms.. To be a key destlnation for locals and visitors to the aa (Audiences). To provide access to the Museum and the collecuons to as many people as posslble (Programmes). To be a reslllent, sustalnable organlsatlon (Organlsation Health). In 2023, we recelved 18,683 Indlvldual vlsltors to the Museum, an increase of 23% on the prevlous year. Our outreach speakers delivered talks at Ca homes and community group venues, engaging wlth 987 people in the community. 286 people joined gulded walklng tours led by volunteer tour guides and this year we developed our relationship with Keele Unlversity by holdlng a workshopi Facing the Dead Facial Reconstruction with Dr Chris Aris. Havlng a central presence In Nantwich Town we also contlnued to get Involved wlth other events taking place. Thls Included Nantwich Food and Drink Festival and Holly Holy Dayi which is a re-enactment of the Clvll War Battle of Nantwich which saw over 400 people vi51t the Museum.
Nantwich Museum Trust Limited Trustees. report (including directors, report) (continued) For the year ended 31 March 2024 The Museum continued to add to its collection In order to preserve and share local finds wlth the publlc. Through the Portable Antiquities and Treasures scheme we have been able to acqulre the followlng objects: Post medleval gold ringer ring from Batherton P05t medieval silver pierced penny from Marbury Medieval sllver and garnet crucifix from Hurleston Post medieval silver dress fastener from Batherton Earfy medieval sllver ingot And a post medleval cast sllver gilt eye element from a two-plece dress fastener In 2023 Improvements were made across the Museum. Two new dlsplay cases were eretted, our clocks moved and our salt ship was lowered and moved in an efftirt to improve the way in which we tell the Important stories of the town s past. The Millennium Gallery was also replastered and palnted. We were keen to Improve environmental condltlons at the Museum. this included making some changes In the Vlctorlan part of the building by Installing secondary glazing on three large windows, P1acing some old Inefflclent storage heaters and replacement of a polycarbonate lantern (skylight) wlth a double glazed unit. Flnancial revlew Unrestrlcted funds at the end of the flnanclal year totalled £281,054. It Is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six months, expendlture. The Board of Management considers that reserves at thls level will ensure that, in the event of a slgnificant drop In fundingi they wlll be able to continue the Trust's current actlvities whlle consideratlon is given to ways in whlch additional funds may be ralsed. This level of reserves has been maintalned throughout the year. ,The Board of Management has assessed the major rlsks to which the Trust is exposed. and are satisfied that systems are in place to mltlgate exposure to the major rtsks. ,The Board of Management Is satisfied that sufficlent fundlng wlll be avallable for the Museum to contlnue operdting for the foreseeable future desplte the ongolng cOnmS about the current state of the economy. ',At this polnt it Is extremely difficult to accurately budget for the flscal year ending 31 March 2025 due to these uncertalntles. The Board predicts a loss in the range of about £39,000 for our day-to-day artlvltie5, however this includes a two-year fixed post to drfve educatlonal activity outslde of the museum's premlses 'and this was agreed havlng consldered the strong reserves posltlon. structurei governance and management The Trust is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Associatlon.
Nantwich Museum Trust Limited Trustees. report (including directors, report) (continued) For the year ended 31 March 2024 The Board of Management, who are also the trustees of the charity and directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: H Cooke P G Groves l J Seaber D Bowyer-Bates C Baxter R Collin5 T Evans J Park J statham S Bostock M T Habe5ch G Dodd G Smlth S B05tock R M McKew A Plckton A Burton (Resigned 27 September 2023) (Resigned 4 May 2023) (Resigned 4 May 2023) (Resigned 27 September 2023) (Appointed 14 June 2023) (Appolnted 14 June 2023) (Appointed 27 September 2023) (Appointed 27 September 2023) (Appolnted 27 September 2023) The constitution of the Board of Management is as follows: No more than sixteen members of which 2 are nominated by Cheshire E05t Council, 2 by Nantwlch Town Council, I by Nantwich Local Historical Society and I by Nantwlch Civlc Society, wlth the remalnder belng elected by the membership. The Board can co-opt individuals to be members of the Board if vacancies exlst. The dlrectors appolnted by the membership serve for a period of three years. They are not eligible for re- appointment in the year immediately succeeding the ending of their three-year tem although they may be co-opted during the period. The treasurer, secretary and often membership secretary attend the Board of Management meeting but are not directors of the Trust. New directors are given training on appointment regarding the charlty's alms, thelr legal obligations under company and charity law, the operation of the museum and the decision-making process, the charity's future development plans and the charity's recent financial performan Tangible fixed assets in use by the trust The tangible fixed assets in use by the Trust have been finand via the development fund and other grant5 received. The accounting treatment adopted in respect of these assets is detailed in note 1.5 to these financial statements. The Trust is based in a building which is leased from the Cheshire East Council on a peppercorn rental. TheT port was approved by the Board Of Management. TEva Chair of Board of Management Date: 2f .&.*.24
Nantwich Museum Trust Limited Statement of trustees. responsibilities For the year ended 31 March 2024 The Board of Management, who are also the directors of Nantwich Museum Trust Lrmited for the purpose of company law, are responsible for preparing the Tru5tees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Practi). Company Law requires the Board of Management ta prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financtal Statements, the Board of Management are required to: select suitable accounting policies and then apply them consistently; observe the method5 and principles in the Charities SORP. make Judgernents and estimates that are reasonable and prudent," State whether applicable UK Accounting Stsndards have been followed, subject to any material .departures disclosed and explained in the fInancial ststements: and prepare the financial statements on the going conrn basls unless it is inapproprlate to presume that the Trust will conunue in operation. The Board of Management are responsible for keeplng adequate accounting records that disdose with reasonable accurdcy at any time the financial position of the Twst and enable them to ensure that the flnanclal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other Iegular[t1es.
NANTWICH MUSEUM TRUST LIMITED Independent examiner's report TO THE BOARD OF MANAGEMENT OF NANTWICH MUSEUM TRUST LIMITED I report to the Board of Management on my examination of the financial statements of Nantwich Museum Trust Limited (the Trust) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of slgnlflcant accountlng policies. This report is made solely to the charltable company'5 trustees. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company's tnJStee5 as a body in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might State to the charitsble company'5 trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable companyi the charitable company's members as a body and the charitable company's trustees as a body for my independent examinerfs work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the Board of Management of the Trust (and also Its dlrectors for the purposes of company law) you are responsible for the preparation of the financlal statements In accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Trust's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Dlrections given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust a5 required by section 386 of the 2006 the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and frdir view which is not a matter considered a5 part of an independent examination; or the financial statements have not been prepared in accordan with the methods and principles of the Statement of Recommended pract1 for accountlng and pOrtIng by charltles appllcable to charltles preparing their accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Robert Morri5 FCA DJH Nantwich Limited 17 Alvaston Business Park Middlewich Road Nantwich Cheshire CW5 6PF Dated:
Nantwich Museum Trust Limited Statement of financial activities For the year ended 31 March 2024 Current financlal year Unrestrirted Restricted Endowment funds funds funds 2024 2024 2024 Total Total 2024 2023 Notes Donations, legacies and grants Charitable actlvlties Other tradlng actlvities Investments 77,094 41,055 4,104 85 5,271 82,365 41,055 4,104 85 182,960 39,318 3,456 112 Total income 122,338 5,271 127,609 225,846 Charitable activltles 122,739 5,677 128,416 99,834 Net galns/(losses) on Investments li (181) (181) (97) 'Net (outgolng)/lncomlng resource• ' before transfers {401) (406) (181) (988) 125.915 iGross transfers between funds 2,088 (2,088) ',Net mov•ment In funds 1,687 (2,494) (181) (988) 125,915 Fund balances at l Aprll 2023 276,292 20,611 3,255 300,158 174,243 Fund balanceg at 31 March 2024 277,979 18,117 3,074 299,170 300,158 The statement of financlal activltles indudes all gains and losses recognised in the year. '.All income and expenditure derive from continuing activitles.
Nantwich Museum Trust Limited Statement of financial activities (continued) For the year ended 31 March 2024 Prior flnancial year Unrestrirted Restricted Endowment funds funds funds 2023 2023 2023 Totsl 2023 Notes ij Donations, legacles and grants Charltable activities other tradlng activities Investments 174,508 39,318 3,456 112 8,452 182,960 39,318 3,456 112 Total Income 217,394 8,452 225,846 Charltable actlv5tSes 95,617 4,217 99,834 Net galns/(losses) on Investments li (971 197) Net (outgoing)/incomlng resources before transfers 121,777 4,235 (97) 125,915 Gross transfers between funds 7,912 (7,912) Net movement In fundo 129,689 (3,677) (97) 125,915 Fund balances at l April 2022 146,603 24,288 3,352 174,243 Fund balances at 31 March 2023 276,292 20,611 3,255 300,15B
Nantwich Museum Trust Limited Summary income and expenditure account For the year ended 31 March 2024 All Income funds 2024 2023 Gross Income 127,609 225,846 Total expenditure from Income funds 128,416 99,834 Net (expendlture)/lncome for the year (807) 126,012
Nantwich Museum Trust Limited Balance sheet As at 31 March 2024 2024 2023 Notes Fixed assets Tangible a5setS Heritage assets Investments 13 23,456 2,000 17,281 2,000 3,255 14 15 25,456 22,536 Current assets Stocks Debtors Cash at bank and In hand 16 17 6,465 14,900 260,616 6,392 5,928 269,505 281,981 261,825 Credltors: amounts falllng due within one year 18 (8,267) (4,203) Net current assets 273,714 277,622 Total assets less current liabilitles 299,170 300,158 Capital funds Endowment funds - general Income funds Restrlcted funds Unrestrlcted funds 19 3,074 3,255 20 18,117 277,979 20,611 276,292 299,170 300,158
Nantwich Museum Trust Limited Balance sheet (continued) As at 31 March 2024 The company is entitled to the exemption from the audit requlrement contalned in sectlon 477 of the Companies Att 2006, for the year ended 31 March 2024. The dlrectors acknowledge their responslbillties for complying with the qUirements of the Companles Att 2006 with respect to accounting records and the preparation of flnancial statements. 'The members have not required the company to obtain an audit of Its financial statements for the year In questlon In accordance wlth section 476. These flnanclal statements have been prepared In accordan wlth the provlslons appllcable to companies subject to the small companies regime. The fi atements were approved by the Board Of Management on Trust Company reglstratlon number 1455850 io
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity Inlormatlon Nantwich Museum TnJ5t Limlted is a private company Ilmlted by guarantee incorporated in England and Wales. The registered offlce and the location of the museum Is at The Nantwich Museum, Plllory street, Cheshire, CW5 5B(L Naniwich. 1.1 Accounting conventlon The financial statements have been prepared in accordan wlth the Trust's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP Accountlng and Reportlng by Charities: Statement of Recommended Practice applicable to charities preparlng thelr accounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102)" (effectlve l january 2019). The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provlslons In the SORP for charltles not to prepare a Statement of Cash Flows. The flnanclal statements are prepared in 5terflng, whlch Is the functional currency of the Trust. Monetary amounts In these financial statements are rounded to the nearest £. The flnanclal Statements have been prepared under the hlstorical cost conventlon, modlfied to Include the revaluation of certaln flnanclal Instruments at fair value. The princlpal accounting pollcies adopted are set out below. 1.2 Golng concern At the tSme of approving the finanaal ststements, the Board of Management have a reasonable expectatlon that the Trust has adequate resources to continue In operational existence for the foreseeable future. Thus the Board of Management continue to adopt the golng concern basis of accountlng In preparing the financlal statements. 1.3 Charltable funds Unrestricted funds are avallable for use at the dIsctIon of the Board of Management in furtherance of thelr charitable objectives. Restricted funds are subject to specific conditions by donor5 a5 to how they may be used. The purposes and uses of the restricted funds are set aut In the notes to the financial statements. Endowment funds are subject to specific conditlons by donors that the capital must be malntsined by the Trust. 1.4 Xncomlng resources Income is recogni5ed when the Trust Is legally entitled to It after any performance condltlons have been met, the amounts can be measured reliably* and it Is probable that Income wlll be recelved. Cash donatlons are recognlsed on recelpt. Other donatlons are recognlsed On the Trust has been notified of the donation, unless performance conditlons requlre deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant Is recognlsed on receipt of the tax refund. Legacies are recogni5ed on receipt or otherwise If the Trust has been notified of an impendlng distribution, the amount Is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. li
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 Accounting poliei£s (Continued) 1.5 Tangible fixed assets Tangible fixed a55ets are initially measured at cost and subsequently measured at cost. net of depreciation and any impairment losse5. Depreciation is recognlsed so as to write off the cost of assets less thelr residual values over their usefvl lives on the following bases.. Leasehold improvernents Flxtures, fitting5 & equipment 15% Straight line 10% & 25% Straight line The gain or loss arising on the disposal of an asset is determined as the dtfference between the sale proceeds and the carying value of the asset, and 15 recogni5ed in the statement of financial activities. The costs of Improving the museum buildlngs and dlsplays were finand by a development fund and other grants received and were wdtten off during the year in which they were Incurred. These improvements were therefore not valued in the charity's balan sheet. A note of total expenditure written off in earlier year5 15 given in note 13 to the finanaal statements. .1.6 Heritage assets The Trust cares for many objects, the vast majorlty of which would be difficult, If not Impossible, to value. Even if valuations could be obtalned the cost5 would be oneroLSS compared with the benefit derived by the Trust and the users of the flnancial statements. As a result, no value is reported for these assets In the Trusvs balance sheet. The eXptiOn is for heritage a55ets purchased, which are capitsli5ed if the cost Is greater than £1,000. Items that are capitalised are stated at cost, but are not depreciated a5 the amount of depreciation is regarded as immaterial due to thelr anticipated high resldual value. 1.7 Fixed asset investments Ixed asset investments are initially measured at transacbon pri exduding trdnsaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised In net income/(expenditure) for the year. Transaction costs are expensed as incurred. ,1.8 Stocks stocks are stated at the lower of cost and net realisable value. 1.9 Financlal Instruments The Trust has elected to apply the provisions of Sectlon 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged a5 an expense as they fall due. 12-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accountlng estimates and judgements In the application of the Trusts accounting policies, the Board of Management are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dlffer from these estlmates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revi510ris to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future perlods where the revlsion affects both current and future periods. Donations, legacies and grants Unrestricted Restricted Total Unrestricted Restricted funds funds Total funds funds 2024 2024 2024 2023 2023 2023 Donation5 and glfts Legacles recelvable Grants received Insurance claims 39,258 37,836 791 40.049 37.836 4,480 38.750 134,632 2.456 41.206 134,632 5,996 1,126 4,480 5,996 1.126 77,094 5,271 82,365 174.508 8,452 182.960 Donations and gifts Council contributions Donations 32,300 6,958 32,300 7,749 32,000 6,750 32,000 9.206 791 2,456 39,258 791 40,049 38,750 2,456 41,206 Grants receivable for Core activities Project grants 4,480 4,480 5,996 5,996 4,480 4,480 5,996 5,996 13
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 Charitable actlvltleg 2024 2023 School and outreach recelpts Income generated from talks and tours Shop Income Art sales commlsslon and book royalties other Income 11,677 9,399 16,833 589 11,647 6,465 17,087 1,228 2,891 2,557 41,055 39,318 Other tradlng actlvltles Unr•gtrlcted Unrestricted funds funds 2024 2023 Hlre of rooms Fundralslng events 2,280 1,824 1,645 1,811 Other trading activities 4,104 3,456 Investments Unrestrlcted Unrestrtcted funds fund5 2024 2023 Income from listed investments 85 112 14-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 Charltable activities 2024 2023 Staff costs Depreciation and impairment Shop purchases Repairs, cleaning and maintenan Water rates Heat arTrd light Insuran Health and safety Alarms and security Prlntlng, postage and Stationery Exhibition expenditure Telephone and tr Dutton Medallion Fund expenditure Subscriptions and publicity Bank charges Education and catering Collection care expenditure Other charitable expenditure 64,746 4,969 6,731 9,429 1,295 6,030 2,106 1.366 1,484 1,241 2,418 2,334 53,796 3,539 5,907 11,972 1.229 4,596 2,151 1,906 1,393 875 637 2,007 200 1.522 326 605 1,133 11,741 6.254 812 320 3.724 125,125 95,669 Share of governance costs (see note 8) 3.291 4,165 128,416 99,834 Analysis by fund Unrestricted funds Restricted funds 122.739 5,677 95,617 4,217 128,416 99,834 other Charitable Expenditure as shown above includes expenditure on Restricted Funds of £4,427 (2023 £2,967), and Depreciation and Impairment includes expenditure on Restricted Funds of £1,250 (2023 £1,250). 15
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs 2024 2023 Accountancy Legal and professlonal 2,878 413 2,878 413 2,375 1,790 3,291 3,291 4,165 Analysed between Charltable activities 3,291 3,291 4,165 Induded In accountancy are fees to the Independent examlner of £1,250 (2023 £1,000) re the examlnatlon and £1,628 (2023 £1,375) re accountancy and payroll seNlces. Board 01 Management None of the Board of Management (or any persons connected wlth them) reIVed any remunerat5on or beneflts from the Trust durlng the year. 10 Employees Number of employees The average monthly number of employees durfng the year was: 2024 Number 2023 Number Office and management Employment costs 2024 2023 Wages and salarfes other pension costs 61,454 3,292 51,510 2,286 64,746 53,796 There were no employees whose annual remunerdtion was £60.000 or more. 16-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 11 Net gains/(losses) on Investments Endowment Totsl funds general 2024 2023 Revaluation of investments (181} (97) 12 Taxation The charity 15 exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gain5 Ad 1992 to the extent that these are applied to its charitable objects. 13 Tanglble Tred assets L&¥ehold Hxture impn>vements fittings & eqylprnent Total Cost At l April 2023 Additions 6,781 26,250 11,144 33,031 11,144 At 31 March 2024 6.781 37,394 44,175 Depreciation and impairment At l April 2023 Depreciation charged in the year 6,781 8,969 4.969 15,750 4,969 At 31 March 2024 6,781 13,938 20,719 Carrylng amount At 31 March 2024 23.456 23,456 At 31 March 2023 17,281 17,281 Costs of building and display improvernents totalling £281,019 have been spent in earlier years and financed by a development fund to the same value. This total improvement expenditure does not appear in these financial statement5 having been matched by the development fund. 17-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 14 Heritage assets Collection items At l Aprll 2023 and at 31 March 2024 2,000 , 15 Fixed asset Investments Llsted Investments Cost or valuation At l Aprll 2023 Valuatlon changes D15POsals 3,255 (181) (3,074) At 31 March 2024 Carrylng arnount At 31 March 2024 At 31 March 2023 3,255 2024 2023 Investments at falr value cornprise; Black Rock Charltles UK Bond Fund Black Rock - Charities UK Equity Fund (394) (2,861) 3,255 These investments were part of the Dutton Medallion Fund whlch was provided to make an annual award to a citizen of Nantwich in cOgnItion of his or her servi5 to the local community. The investments were sold during the year with the proceeds, representing the Dutton Medallion Fund, then held in the bank current account. The investments were induded in the financial statements at fair value whlch was based on the market value of the units. The original cost was £400 for the Charltles UK Bond Fund unlts and £600 for the Charities UK Equity Fund units. ,16 Stocks 2024 2023 Flnlshed goods and good5 for resale 6.465 6,392 18-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 17 Debtors 2024 2023 Amounts falllng due wlthin one year: Trade debtors Other debtors Prepayments and accrued Income 2,589 9,951 2.360 1,519 2,704 1,705 14,900 5,928 18 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxatlon and soclal securlty Trade CdItorS Accruals and deferred Income 804 655 3,110 4,353 166 3,382 8,267 4,203 19 Endowment funds Endowment funds repsent assets which must be held permanently by the Trust. Income arising on the endowment funds can be used in accordance with the objects of the Trust and is induded as unrestrlcted income. Any capital gains or losses arising on the assets fom part of the fund. Balaneé •t Révaluatlon• B•lane• at RalUatIon l Aprll 2022 g•lns ?nd l Aprfl 2013 galns 4nd losseg Balanc• Jt 31 M•rch 1024 Permanent endowments Dutton Medallion Fund 3,352 (97) 3,255 (181) 3,074 3,352 (97) 3,255 {181) 3,074 The Dutton Medallion Fund has been provided to make an annual award to a citizen of Nantwich in recognition of his or her services to the local community. 19-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted funds The Income funds of the charlty include restricted funds comprlslng the.followlng unexpended balances of donations and grants held on trust for speclflc purpose5: Movement In funds Incomlng Resources Balance at l April 2023 Trnnslers Balanc• at 31 March 2024 Dementla Fund Clvll War Projett Nlsa Grant Priestley Exhibition Manchester Unlverslty - Costurne Collettlon Wrenbury Hoard Fund Dlgltal Project Contemporary Clothlng Project Gasworks Acton Rlng MDNW Digital Kiosk In Your Customerfs Shoes RSC Local - Summer of Sclence Man Uni Sustainable Improvement - Summer of Sclence RSC - Summer of Sclence Institute of Physics - Summer of Science Treasure Fund 2024 High Street Exhlbitlon 4,584 1,138 3,219 496 501 (462) (15) 4,623 1,123 3,219 496 1,085 loo (51) 1,034 loo 458 458 975 975 2,000 1,904 3,750 22 (627) 1,373 1,904 2,500 22 (1,250) 880 (321) (559) 1,000 3,180 (768) (2,183) (232) (997) 300 50 240 (3001 50 240 20,611 5,271 (5,677) (2,088) 18,117 20-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 20 Restrlcted ftinds (Continued) The Dementla Fund was set up to run the Dementla Friendship Group whlch meets twlce a month and 15 funded by donations from partlclpants and outside organisations. The Clvil War Project Is a project Set up to develop the current "Your Space. gallery Into a permanent clvil war exhibltlon space. The Nisa grant was recelved for general museum marketSng efforts and a550ciated materfals. The Prlestley Exhlbltion Fund covers the c05t to purchase and prepare materlals and associated marketlng for an exhibition about Joseph Prie5t5ey who lived briefly in Nantwlch. The Manchester University Costurne Collection funding was granted fmm Museums Development North West's Sustainable Improvement Fund to aid in costurne care. The Wrenbury Hoard fund is made up of donatlons made followlng an appeal to ralse fund5 to purchase a hoard dlscovered in Wrenbury. The Digital Project Fund Is a Jolnt project with Macclesfield Museum to produce a digital offer for school5. The Contemporary Collectlng Project Fund is for the development of an LGBT exhibition. The Gasworks Fund is for the development of an exhlbltlon and events connected to the slte of the town's former gas works. The Acton Rlng Fund was set up for the acqulsltlon of a post-medleval gold and enamel fede rlng from Acton, Cheshire. The MDNW Dlgital Kiosk Fund was set up to purchase a digital kiosk to provide an enhanced user experience in the main galleryi uslng technology and modern display technique5 to supplement the static displays with interactlve maps and presentations. The In Your Cu5tomer'5 Shoes Fund covers expenses for particlpatlng In the Northern Museums Visltor Experfence Con50rtlum, in which museum staff and volunteers visit other participating museums and assess all aspects of the offer, from onllne presence to visitor engagement wlth each museum re[ving in return a report wlth rea115tlc recommendations for service Impmvement. The RSC Local - Summer of Sclence Fund was a fund to enable staff. volunteer5 and outside contr5butors to develop workshops and events wlth a chemlcal science focu5 as part of the 2023 Summer of Science exhibition. The Manchester University Sustalnable Improvement - Summer of scien Fund was a fund for the development of a permanent scien and Sustainability educational offer. The RSC - Summer of Science Fund was a ftjnd for the development and execution of the 2023 Summer of Science exhibition to engage members of the public with SCIen through links with everyday objects and events. This fund was particularly related to the chemistry aspects of the project. The Institute of Physics - Summer of Sclence Fund was a fund to cover expenses relatlng to physlcs demonstrations for the 2023 Summer of Science exhibition. The Treasure Fund 2024 is a fund for the acqulsltlon of local treasure find5 to add to the Museum's collection of objects. The High Street Exhibition Fund is a fund for the development of the Summer 2024 Hlgh Street Exhibition. 21
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysls ot net assets between funds General Restricted Endowment lunds funds fund Totsl General Restricted Endowment funds funds fund 2023 2023 2023 Total 2024 2024 2024 2024 2023 Fund balances at 31 March 2024 are represented by: Tanglble assets Heritage assets Investments Current assets/(liabilltles) 20.956 96 2,500 1,904 23,456 2,000 13,531 96 3,750 1,904 17,281 2,000 3,255 277.622 3,255 256.927 13,713 3,074 273,714 262.665 14,957 277,979 18,117 3,074 299.170 276,292 20,611 3,255 300,158 22-
NANTWICH MUSEUM TRUST LIMITED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 22 Related party transactlons There were no disclosable related party transactions during the year (2023 - none). 23-