2021-03-31-accounts - North West Museum Of Transport Limited

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North West Museum of Transport Limited

Annual Report 2020-2021

Registered Charity no. 513262

Trustees’ Annual Report

Financial Statements

Cover photo:

From the Museum’s historic vehicle collection, preserved St Helens Corporation Transport Leyland Titan bus no.54, built in 1966, outside the Museum.

North West Museum of Transport Ltd., 51 Hall Street, St. Helens, Merseyside WA10 1DU

Trustees’ annual report (in c luding Directors’ report) for the period

From: 1 April 2020 to 31 March 2021

Charity name: NORTH WEST MUSEUM OF TRANSPORT LIMITED

Charity registration number: 513262 Company number: 01657828

Objectives and activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1 .17	The North West Museum of Trans Limited, a registered charity, was 1982 to establish and maintain fo education and benefit of the publi Merseyside, the North West of En North Wales, an operating transp museum, the North West Museum Transport. The Charity aims to do promoting the permanent preserv road transport vehicles and relate actual or potential historic or scien importance or educational value, encourage and promote public int public education in the same. port founded in r the c of gland and ort of Road this by ation of d items of tific and to erest and
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1 1.19 .17 and	The principal activities and object operate a transport museum to co and preserve historic road transpo and related items of interest for th education and information of thep has carried out this activity in itsc premises since 1986. The museu to the public at weekends, and oth by arrangement. The Charity will acquire, restore,c and display vehicles and artefacts associated with its aims in a mann portrays their places in road trans and also work to conserve the fab integrity of the original. The Charity will continue to promo in historic road transport for the be public by encouraging the publict museum, and by providing educa displays. It will also do this by tak vehicles and related artefacts tos events and schools etc. forthe be ives are to nserve rt vehicles e benefit, ublic. It urrent m is open er times onserve er that port history ric and te interest nefit of the o visit the tional ing historic uitable nefit of

		those who may not visit the museum itself. The Charity will continue to encourage anyone with an interest in its aims to be involved and participate in its activities. It will act in a professional manner to safeguard and further its aims and the assets that are in the Charity’s care. By encouraging the involvement of volunteers in its activities, several of whom have retired from the motor industry and have experience and skills in the construction and maintenance of road transport vehicles, the Charity provides a focus for the retention of these skills and an educational opportunity for these skills to be passed on to future generations. The Charity will not discriminate against anyone on ground of race, gender, sexual orientation, age or disability.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	The Charity does not make grants.
Policy on social investment including program related investment	Para 1.38	Does not apply.
Contribution made by volunteers	Para 1.38	The activities of the Charity are carried out entirely by its volunteer members, except for professional services such as financial examination and activities requiring specialist skills that are beyond the capabilities of the volunteers. The Charity does not employ any paid staff.
Other

Achievements and performance

	Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Background The North West Museum of Road Transport is housed in the former St. Helens Corporation bus depot in St. Helens town centre. The building has been in continuous use for road transport purposes for over 100 years, housing at various times horse-drawn, steam and electric trams, trolleybuses and motorbuses used on local public transport services. The museum building retains many of its original features, and being used as a road transport museum is very appropriate. The Charity has approximately 30 historic vehicles in its care, mainly buses from the North West but also lorries, cars, motorcycles and pedal cycles. There is also a large quantity of road transport archive material from the region and elsewhere. The Charity also provides accommodation for display and restoration of privately-owned historic road vehicles that complement its own collection, including buses, cars, fire appliances and motorcycles. Visitors The museum would normally be open to the public at weekends, but due to the COVID- 19 restrictions, it was closed for much of the period under review. This meant that we were also unable to host organised school and group party visits during the year. The restrictions also reduced the number of volunteer staff available due to shielding etc. when the museum was allowed to reopen. The museum reopened on 1 August 2020, with precautions in place in line with the then current guidance. Visitor numbers were understandably lower than usual during this time. The museum closed again in October due to the Tier 3 restrictions and remained closed for the rest of the period under review. The number of visitors during the time that the museum was open was approximately 250, which is understandably very much lower than would normally be expected over the same period, given the circumstances. Despite this, we aim for the museum to appealto allages. Family groups ofparents

and grandparents with young and older children make up a large proportion of our visitors. We aim for the displays to be educational and appealing to the wide variety of levels of interest among our visitors. Events Due to COVID restrictions, we have been unable to hold any special events this year. Membership and volunteers Despite the challenges of COVID, the number of members increased slightly over the year to around 180. There is a wideranging membership profile, from interested locals to transport enthusiasts from the region and further afield. Outreach to members is through a quarterly magazine and social media. The museum relies totally on volunteer staff for opening to the public. There are about 30 regular active volunteers who work on a rota basis to open the museum to visitors. They are also involved with vehicle maintenance and restoration, archive conservation and outreach, using relevant skills and passing these on to others for their training and education. Vehicle restoration In the circumstances, there was little progress with the Museum’s vehicle restoration projects during the year, and work was mainly confined to maintenance and cleaning. Conservation and collection management It has been possible to make some further progress on the review and cataloguing of the transport-related material in the Charity’s archive collection, with some items being placed on display. In preparation for reopening, the small items on display were refreshed to provide new interest and information for visitors. The vehicle display was re-arranged prior to the August reopening, which enabled the presentation of several vehicle exhibits that were previously unseen by visitors. Three restored vehicles were donated to the museum during the year, these being a 1960 Ford Consul car, a 1963 BMC lorry, and a Honda Melody moped. There were also some changes in the privately-owned vehicles in the collection and on display.

General

General	General
The public benefits from the Charity’s
activities by:
`•`	Providing a focus for skills retention
	and teaching to a new generation;
`•`	Being a centre for the retention of
	local transport history and relating
	this to present and future generations
	for educational purposes;
`•`	Giving the opportunity to experience
	and gain a better understanding of a
	part of life in a bygone era.

Additional information (optional) You may choose to include further statements where relevant about:


Achievements against objectives set	Para 1.41	See above.
Performance of fundraising activities against objectives set	Para 1.41	The Charity has raised sufficient funds during the year to achieve the objectives of operating a transport museum for the education and benefit of the public and continuing to conserve and restore its historic assets.
Investment performance against objectives	Para 1.41	Does not apply.
Other		The Charity provides accommodation in part of its premises for the Rainhill Model Railway Club undera sub-lease.

Financial review

Review of the charity’s financial position at the end of the period	Para 1.21	Income for the period: £110,895. Expenditure: £65,250. Surplus for the year: £45,645.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The Trustees have reviewed the Charity's requirements for reserves in line with Charity Commission guidance, and after consideration of the main risks to the organisation. They have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets should be maintained at £30,000, which will cover approximately 4 months of normal expenditure.
Amount of reserves held	Para 1.22	£30,000 as of 31/3/2021.
Reasons for holding zero reserves	Para 1.22	Does not apply
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	None

Additional information (optional)

Additional information (optional)	Additional information (optional)
You may choose to include further statements		where relevant about:
The charity’s principal sources of funds (including any fundraising)	Para 1.47	Principal sources of funds for the period under review are: `•` member subscriptions (3%) `•` entrance fees to the museum, catering and shop sales (3%) (museum closed due to COVID restrictions) `•` income from accommodation of privately owned vehicles and Rainhill Model Railway Club (49%) `•` appeals and donations (1%) `•` other income (3%) `•` grants (41%) (extraordinary COVID support grants).
Investment policy and objectives including any social investment policy adopted	Para 1.46	The Charity does not hold any investments.
A description of the principal risks facing the charity	Para 1.46	The Trustees have examined the major strategic, business and operational risks to which the Charity is exposed, and confirms that systems are established to take steps to reduce these risks.

Principal risks include:	Principal risks include:
`•`	Catastrophic loss of premises and
	collection
`•`	Unexpected early termination of
	lease on premises
`•`	Financial pressure or failure
`•`	Unexpected major building repairs
	not covered by insurance
`•`	Loss or reduction of volunteer
	support
`•`	Ageing active volunteer membership,
	and possible reduction in active
	contribution
`•`	Effects of COVID-19 on visitor
	income due to closure of the
	museum to the public

Other

Structure, governance and management

Description of charity’s trusts:
Type of governing document: for example,trust deed, memorandum and articles of association etc	Para 1.25	Memorandum and Articles of Association incorporated 11 August 1982.
How is the charity constituted? for example limited company, unincorporated association, CIO	Para 1.25	The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees, who are also Directors of the company, are elected by subscriber members of the company at the annual general meeting in accordance with the Articles of Association. The Trustees also have the power to appoint new Trustees by co-option. The maximum number of Trustees / Directors is 12, with a complement of 9 at the end of the reporting period.

Additional information (optional)

You may choose to include further statements where relevant about:


Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Charity has links with some of the other charitable organisations in the St. Helens area that provide historical educational facilities and entertainment attractions for the local population, and with the cultural departments of the local authority. The Charity has continued its liaison with St. Helens council and is involved with the St Helens visitor economy network strategy group, which endeavours to improve and promote St Helens as a visitor attraction, to benefit the people of the town and its economy and wellbeing. The Charity is a founder member of the National Association of Road Transport Museums (charity no. 11431218).
Relationship with any related parties	Para 1.51
Other

Reference and administrative details

Charity name	North West Museum of Transport Limited
Other name the charity uses	North WestMuseumof RoadTransport
Registered charity number	513262
Charity’s principal address	The Old Bus Depot 51 Hall Street St. Helens Merseyside WA101DU

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
John Arkle		Until 21 December 2020
Clive Arnold	Secretary
Mark Ashcroft	Treasurer (from January2021)	From 22 May 2020
Adam Goss		Until 20 December 2020
David Horn	Vice Treasurer	Until 20 December 2020
Robert Hughes
Norman Johnstone	Treasurer	Until 20 December 2020
Paul Lambert
Michael Lloyd	Chairman until January2021
Keith Naylor	Chairman from January2021	From 20 December 2020
Peter Roberts
David Thrower		Until 1 June 2020
Paul Holmes		From 20 December 2020
Shaun McGarry		From 20 December 2020

– Corporate trustees names of the directors at the date the report was approved

Director name None

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for wholeyear
None

Funds held as custodian trustees on behalf of others	Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity	None
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	Does not apply
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	Does not apply

Additional information (optional)

Names and addresses of advisers (optional information)

Names and addresses of advisers (optional information)	Names and addresses of advisers (optional information)	Names and addresses of advisers (optional information)
Type of adviser Name Address




Name of chief executive or names of senior staff members (optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/directors

Signature(s) Full name(s) Position (for example Secretary, Chair, etc) Date
	Keith Naylor	Clive Richard Arnold
	Chairman	Secretary
	15 December 2021
	15 December 2021

REGISTERED COMPANY NUMBER: 01657828 (England and Wales) REGISTERED CHARITY NUMBER: 513262

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

NORTH WEST MUSEUM OF TRANSPORT LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet	5	to	6
Notes to the Financial Statements	7	to	14

NORTH WEST MUSEUM OF TRANSPORT LIMITED (REGISTERED NUMBER: 01657828)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 1 January 2019).

Structure, governance and management Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Reference and administrative details

Registered Company number

01657828 (England and Wales)

Registered Charity number 513262

Registered office

The Old Bus Depot 51 Hall Street St Helens Merseyside WA10 1DU

Trustees

J G Arkle (resigned 21.12.20) C R Arnold M G Ashcroft (appointed 22.5.20) (resigned 1.12.21) A S Goss (resigned 20.12.20) P F Holmes (appointed 20.12.20) D J Horn (resigned 20.12.20) R Hughes N E Johnstone (resigned 20.12.20) P Lambert M Lloyd S R Mcgarry (appointed 20.12.20) K Naylor (appointed 20.12.20) G Pennington (appointed 20.10.21) P J Roberts D Thrower (resigned 1.6.20)

Company Secretary

C R Arnold

Independent Examiner

NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

Statement of trustees' responsibilities

The trustees (who are also the directors of North West Museum Of Transport Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Page 1

NORTH WEST MUSEUM OF TRANSPORT LIMITED (REGISTERED NUMBER: 01657828)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Statement of trustees' responsibilities - continued

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 20 December 2021 and signed on its behalf by:

C R Arnold - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH WEST MUSEUM OF TRANSPORT LIMITED

Independent examiner's report to the trustees of North West Museum Of Transport Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions 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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts 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 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 Statement 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)).

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 accounts to be reached.

Neil Whittingham BA (Hons) FCA ATT NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

20 December 2021

Page 3

NORTH WEST MUSEUM OF TRANSPORT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 36 Charitable activities 5 Operation of a transport museum 54,246 Other trading activities 3 6,422 Investment income 4 8 Other Income 49,947 Total 110,659 EXPENDITURE ON Raising funds 6 303 Charitable activities 7 Operation of a transport museum 63,648 Total 63,951 NET INCOME/(EXPENDITURE) 46,708 RECONCILIATION OF FUNDS Total funds brought forward 93,734 TOTAL FUNDS CARRIED FORWARD 140,442	Restricted fund £ 236 - - - - 236 - 1,299 1,299 (1,063) 6,775 5,712	31.3.21 Total funds £ 272 54,246 6,422 8 49,947 110,895 303 64,947 65,250 45,645 100,509 146,154	31.3.20 Total funds £ 4,792 51,610 26,508 10 7,906 90,826 5,081 89,604 94,685 (3,859) 104,368 100,509

The notes form part of these financial statements

Page 4

NORTH WEST MUSEUM OF TRANSPORT LIMITED (REGISTERED NUMBER: 01657828)

BALANCE SHEET 31 MARCH 2021

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 12 20,104 Heritage assets 13 45,650 65,754 CURRENT ASSETS Debtors 14 8,462 Cash at bank 68,775 77,237 CREDITORS Amounts falling due within one year 15 (2,549) NET CURRENT ASSETS 74,688 TOTAL ASSETS LESS CURRENT LIABILITIES 140,442 NET ASSETS 140,442 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted fund £ - - - - 5,712 5,712 - 5,712 5,712 5,712	31.3.21 Total funds £ 20,104 45,650 65,754 8,462 74,487 82,949 (2,549) 80,400 146,154 146,154 140,442 5,712 146,154	31.3.20 Total funds £ 18,018 45,650 63,668 8,751 30,190 38,941 (2,100) 36,841 100,509 100,509 93,734 6,775 100,509

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 5

NORTH WEST MUSEUM OF TRANSPORT LIMITED (REGISTERED NUMBER: 01657828)

BALANCE SHEET - continued 31 MARCH 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2021 and were signed on its behalf by:

C R Arnold - Trustee

The notes form part of these financial statements

Page 6

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling which is the functional currency of the charity.

Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity.

Going Concern

COVID-19 measures led to the temporary closure of the museum. However, with the support received in the form of local support grants administered by local authority, the organisation has been able to trade through the period.

Having reviewed the current trading position, the trustees consider that there are no material uncertainties about the ability of North West Transport Museum Limited to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

33% on reducing balance and 5% on reducing balance

The need for any impairment of a fixed asset write down is considered if there is a concern over the carrying value of an asset and is assessed by comparing the carrying value in use or realisable value of the asset when appropriate.

Heritage assets

The charity holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity.

The very long expected lives of the heritage assets, due to their nature, value and need to be preserved means that depreciation is not material and is therefore, not provided. In addition, many of the assets could actually rise in value as time goes on, thus making depreciation less applicable.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 7

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2. DONATIONS AND LEGACIES

2.	DONATIONS AND LEGACIES
		31.3.21	31.3.20
		£	£
	Donations from individuals	272	2,064
	Gift aid	-	2,728
		272	4,792
3.	OTHER TRADING ACTIVITIES
		31.3.21	31.3.20
		£	£
	Membership Subscriptions	3,655	2,676
	Sale of goods	2,767	6,515
	Other Event Income	-	17,317
		6,422	26,508
4.	INVESTMENT INCOME
		31.3.21	31.3.20
		£	£
	Bank interest received	8	10
5.	INCOME FROM CHARITABLE ACTIVITIES
		31.3.21	31.3.20
		Operation
		of a
		transport	Total
		museum	activities
		£	£
	Vehicle accommodation	49,135	47,860
	RMRC Rental Income	5,111	3,750
		54,246	51,610

continued...

Page 8

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

6. RAISING FUNDS

Other trading activities

Purchases Advertising Event expenditure CHARITABLE ACTIVITIES COSTS Operation of a transport museum SUPPORT COSTS Operation of a transport museum NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Deficit on disposal of fixed assets	31.3.21 31.3.20 £ £ - 1,446 303 606 - 3,029 303 5,081 Support Direct costs (see Costs note 8) Totals £ £ £ 63,947 1,000 64,947 Governance costs £ 1,000 31.3.21 31.3.20 £ £ 1,285 724 33,848 33,848 - 4,916

7. CHARITABLE ACTIVITIES COSTS

8. SUPPORT COSTS

9. NET INCOME/(EXPENDITURE)

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

continued...

Page 9

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 4,492 Charitable activities Operation of a transport museum 51,610 Other trading activities 26,508 Investment income 10 Other Income 7,906 Total 90,526 EXPENDITURE ON Raising funds 5,081 Charitable activities Operation of a transport museum 89,604 Total 94,685 NET INCOME/(EXPENDITURE) (4,159) Transfers between funds (1,047) Net movement in funds (5,206) RECONCILIATION OF FUNDS Total funds brought forward 98,940 TOTAL FUNDS CARRIED FORWARD 93,734	Restricted fund £ 300 - - - - 300 - - - 300 1,047 1,347 5,428 6,775	Total funds £ 4,792 51,610 26,508 10 7,906 90,826 5,081 89,604 94,685 (3,859) - (3,859) 104,368 100,509

continued...

Page 10

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

12. TANGIBLE FIXED ASSETS

12.	TANGIBLE FIXED ASSETS
			Fixtures
			and
			fittings
			£
	COST
	At 1 April 2020		31,823
	Additions		3,371
	At 31 March 2021		35,194
	DEPRECIATION
	At 1 April 2020		13,805
	Charge for year		1,285
	At 31 March 2021		15,090
	NET BOOK VALUE
	At 31 March 2021		20,104
	At 31 March 2020		18,018
13.	HERITAGE ASSETS
			Total
			£
	COST
	At 1 April 2020 and 31 March 2021		45,650
	NET BOOK VALUE
	At 31 March 2021		45,650
	At 31 March 2020		45,650
14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.21	31.3.20
		£	£
	Prepayments and accrued income	8,462	8,751

continued...

Page 11

NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
16.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
93,734
Restricted funds
Restricted fund
6,775
TOTAL FUNDS
100,509
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
110,659
Restricted funds
Restricted fund
236
TOTAL FUNDS
110,895
Comparatives for movement in funds
Net
movement
At 1.4.19
in funds
£
£
Unrestricted funds
General fund
98,940
(4,159)
Restricted funds
Restricted fund
5,428
300
TOTAL FUNDS
104,368
(3,859)

31.3.21
31.3.20
£
£
1,549
-
1,000
2,100
2,549
2,100
Net
movement
At
in funds
31.3.21
£
£
46,708
140,442
(1,063)
5,712
45,645
146,154
Resources
Movement
expended
in funds
£
£
(63,951)
46,708
(1,299)
(1,063)
(65,250)
45,645
Transfers
between
At
funds
31.3.20
£
£
(1,047)
93,734
1,047
6,775
-
100,509

continued...

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NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming resources £ Unrestricted funds General fund 90,526 Restricted funds Restricted fund 300 TOTAL FUNDS 90,826 A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.19 in funds £ £ Unrestricted funds General fund 98,940 42,549 Restricted funds Restricted fund 5,428 (763) TOTAL FUNDS 104,368 41,786	Resources Movement expended in funds £ £ (94,685) (4,159) - 300 (94,685) (3,859) Transfers between At funds 31.3.21 £ £ (1,047) 140,442 1,047 5,712 - 146,154

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS	Incoming resources £ 201,185 536 201,721	Resources Movement expended in funds £ £ (158,636) 42,549 (1,299) (763) (159,935) 41,786

continued...

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NORTH WEST MUSEUM OF TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 14