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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 01814110 (England and Wales) REGISTERED CHARITY NUMBER: 515399

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

WIRKSWORTH HERITAGE CENTRE

Mills & Black Derwent House 141-145 Dale Road

Matlock Derbyshire DE4 3LU

WIRKSWORTH HERITAGE CENTRE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 20
Detailed Statement of Financial Activities 21 to 22

WIRKSWORTH HERITAGE CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2020

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 December 2020. 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).

OBJECTIVES AND ACTIVITIES

Objectives and Activities

The company is a registered charity established to advance by all such means as are charitable in law, education in, research into and knowledge and interpretation of the history and development of the town of Wirksworth in Derbyshire, for the benefit of the public in general and the inhabitants of Derbyshire in particular and for such purposes to establish a heritage centre in Wirksworth with museum and related educational activities.

The "collection" consists largely of items and artefacts which have been donated to the centre on the understanding that they will be accessioned as part of the permanent museum collection.

The café and shop were trading in the new centre from late 2018 whilst interpretation work on the upper floors continued until May 2019 when the museum operations finally opened to the public. The trustees then concentrated on developing for the centre a loyal following throughout Derbyshire but this was interrupted in March 2020 when the premises had to be closed due to the COVID-19 virus. Additional grants were subsequently obtained from National Lottery Heritage Fund, Arts Council England and Derbyshire Dales District Council towards the losses incurred from the closure and the expected steady start to renewed operations. In September 2020 these restarted with limits to visitor numbers and shorter opening hours.

During the year the trustees have provided charitable services to members of the public and organisations, all of whom have met the trustees' criteria for the provision of such. The trustees have complied with their duty in Section 117 of the Charities Act 2016 to have due regard to public benefit guidance published by the Commission.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The major items from the collection went on display in Galleries 1-3 from May 2019 and a number of temporary exhibitions have been shown in Gallery 4. Plans have been drawn up for the loan of important items from other museums when visitor numbers are no longer restricted.

FINANCIAL REVIEW

Risk management

The Council of Management reviews the major risks which the charity faces on a regular basis and believes that maintaining reserves at current levels, combined with an annual review of the controls over financial systems, will provide sufficient resources. Council has also examined other operational and business risks faced by the charity and confirms that it has established systems to mitigate the significant risks.

Transactions and financial position

The Statement of Financial Activities shows income generated of £223,973 in excess of resources expended, of this £23,867 relates to HLF grant monies received in 2021. Grants received in the year totalling £177,110 (Arts Council: £144,638 and HLF Emergency Funding: £32,472) were not spent until 2021.

The income also includes a management recharge to the trading subsidiary, in 2020 this totalled £21,755. As at 31 December 2020 the trading subsidiary owed the charity £88,817. The trustees are aware that if the subsidiary fails to make a profit in the current year they must plan as to how the trading subsidiary will repay the monies that it owes to the Wirksworth Heritage Centre.

Going concern

The trustees have not produced a cashflow which shows the charity as liquid in 12 months' time from the signing of the financial statements.

Without the continued support of the National Lottery Heritage Fund, the Arts Council and other generous donors it is unlikely that the charity will be able to continue it's operations.

Page 1

WIRKSWORTH HERITAGE CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2020

FINANCIAL REVIEW

Reserves

The receipt of COVID-19 support grants in 2020 means that the present level of reserves is adequate to support the continuing activities of the charity and the Council of Management considers the financial position of the charity as at the year end to be satisfactory.

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.

The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The company was incorporated on 4 May 1984. In the event of the company being wound up every member is required to contribute an amount not exceeding £1.

Council of Management

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association are known as the Council.

The Articles provide for a minimum of three Council members in addition to the Honorary Secretary and Honorary Treasurer, all of whom must be members of the charity. The Council may at any time co-opt any person qualified for appointment to fill a vacancy in their number, but a co-opted member holds office only until the next annual general meeting and shall then be eligible for re-appointment. Council members may be appointed or removed by ordinary resolution of the charity.

Council meets from time to time as required and is responsible for carrying out the whole of the business of the charity. The company has not entered into any contract in which a member of Council has an interest.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01814110 (England and Wales)

Registered Charity number

515399

Registered office

31 St John's Street Wirksworth Derbyshire DE4 4DS

Trustees

Mrs S Barkley - Smith Miss A E Lindsay Honorary treasurer Mrs J Ferguson Lee (Chair) Mr B Hebron Mr M Galer (appointed 1.1.20) (resigned 2.1.21) Ms N Lamb Ms G Thompson (appointed 1.1.20) (resigned 28.7.20)

Independent Examiner

Mills & Black Derwent House 141-145 Dale Road Matlock Derbyshire DE4 3LU

Page 2

WIRKSWORTH HERITAGE CENTRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2020

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mrs J Ferguson Lee - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WIRKSWORTH HERITAGE CENTRE

Independent examiner's report to the trustees of Wirksworth Heritage Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

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 - matters of concern identified

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA which is one of the listed bodies.

I have completed my examination.

The trustees have not provided a cashflow showing the expected results for the 12 month period from the date of the signing of the financial statements. I am therefor unable to comment on the charity's ability to continue as a going concern.

I have concerns as to whether the trading subsidiary will ever be in a position to repay the monies that it owes to the charity. (See Note 16).

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

  1. 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

  2. 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; and

  3. 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

M W Thomas ACA Mills & Black Derwent House 141-145 Dale Road Matlock Derbyshire DE4 3LU

Date: .............................................

Page 4

WIRKSWORTH HERITAGE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 December 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Rental income
Miscellaneous income
Events
Museum
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Miscellaneous income
Cafe and shop
Events
Museum
Other
Total
NET INCOME
Transfers between funds
20
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
118,523
442
928
387
3,024
-
21,759
-
145,063
7,709
-
35,569
184
6,479
54,449
104,390
40,673
4,846
45,519
236,180
281,699		 Restricted
funds
£
282,557
-
-
-
-
-
-
-
282,557
-
-
11,185
-
399
136,781
148,365
134,192
(4,846)
129,346
1,141,465
1,270,811		 31.12.20
Total
funds
£
401,080
442
928
387
3,024
-
21,759
-
427,620
7,709
-
46,754
184
6,878
191,230
252,755
174,865
-
174,865
1,377,645
1,552,510		 31.12.19
Total
funds
£
220,624
653
-
1,703
-
13,802
149,916
270
386,968
7,001
1,304
101,530
2,142
9
141,993
253,979
132,989
-
132,989
1,244,656
1,377,645

The notes form part of these financial statements

Page 5

WIRKSWORTH HERITAGE CENTRE

BALANCE SHEET 31 December 2020

Notes
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
18
NET ASSETS
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
203,919
1
203,920
-
124,119
61,065
185,184
(64,280)
120,904
324,824
(43,125)
281,699		 Restricted
funds
£
1,125,628
-
1,125,628
-
545
144,638
145,183
-
145,183
1,270,811
-
1,270,811		 31.12.20
Total
funds
£
1,329,547
1
1,329,548
-
124,664
205,703
330,367
(64,280)
266,087
1,595,635
(43,125)
1,552,510
281,699
1,270,811
1,552,510		 31.12.19
Total
funds
£
1,349,068
1
1,349,069
7,709
99,890
21,069
128,668
(82,092)
46,576
1,395,645
(18,000)
1,377,645
236,180
1,141,465
1,377,645

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

WIRKSWORTH HERITAGE CENTRE

BALANCE SHEET - continued 31 December 2020

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 ............................................. and were signed on its behalf by:

............................................. Mrs J Ferguson Lee - Trustee

The notes form part of these financial statements

Page 7

WIRKSWORTH HERITAGE CENTRE

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 December 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Loan to subsidiary
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.12.20
£
225,703
(2,895)
222,808
(37,528)
-
3,775
(7,425)
4
(41,174)
45,000
(42,000)
3,000
184,634
21,069
205,703		 31.12.19
£
243,276
(3,738)
239,538
(200,441)
(1)
270
(81,392)
-
(281,564)
50,000
(8,000)
42,000
(26)
21,095
21,069

The notes form part of these financial statements

Page 8

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 December 2020

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.12.20 31.12.19
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 174,865 132,989
Adjustments for:
Depreciation charges 53,274 34,442
Profit on disposal of fixed assets - (270)
Interest received (4) -
Interest paid 2,895 3,738
Decrease/(increase) in stocks 7,709 (1,631)
(Increase)/decrease in debtors (17,349) 49,346
Increase in creditors 4,313 24,662
Net cash provided by operations 225,703 243,276
2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1.1.20 Cash flow At 31.12.20
£ £ £
Net cash
Cash at bank and in hand 21,069 184,634 205,703
21,069 184,634 205,703
Debt
Debts falling due within 1 year (24,000) 22,125 (1,875)
Debts falling due after 1 year (18,000) (25,125) (43,125)
(42,000) (3,000) (45,000)
Total (20,931) 181,634 160,703

The notes form part of these financial statements

Page 9

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020

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, with the exception of investments which are included at market value.

The financial statements have been prepared using the going concern basis. However, it is possible the charity may run out of liquid funds within the 12 month period following the date of the signing of these accounts. The charity can only continue as a going concern if grants and donations received are enough to cover the ongoing cost of operations.

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.

Allocation and apportionment of costs

Where appropriate costs have been allocated to specific activities.

Tangible fixed assets

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

Plant and machinery - 20% on reducing balance Fixtures and fittings - 10% on cost Office equipment - 33% on cost

In the opinion of the Council of Management, the anticipated useful life of the freehold property is such that no depreciation is required.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

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.

continued...

Page 10

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
Gift aid
Grants
Membership
Grants received, included in the above, are as follows:
Heritage Lottery Fund
Arts Council
Peak Park
MDEM
Covid-19
General
Heritage Lottery Emergency Funding
Duke of Devonshire
Furlough subsidies
3.
OTHER TRADING ACTIVITIES
Café, shop and gallery sales
Shop income		 31.12.20
£
2,493
1,445
396,647
495
401,080
31.12.20
£
103,609
179,988
-
1,175
11,334
1,000
66,300
1,000
32,241
396,647
31.12.20
£
-
-
-		 31.12.19
£
1,400
-
218,984
240		 31.12.19
£
1,400
-
218,984
240
220,624
31.12.19
£
216,576
-
542
1,866
-
-
-
-
-
218,984
31.12.19
£
4,825
8,977
13,802
13,802

continued...

Page 11

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

4.
INVESTMENT INCOME
Management charge
Deposit account interest
Other interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Rental income
Rental income
Advertising revenue
Miscellaneous income
Events
Events
Admissions to museum
Museum
6.
RAISING FUNDS
Other trading activities
Opening stock
Purchases
Closing stock
Cleaning
Recruitment costs
Training
Interest payable and similar charges
7.
CHARITABLE ACTIVITIES COSTS
Cafe and shop
Events
Museum		 31.12.20
£
21,755
3
1
21,759
31.12.20
£
442
928
387
3,024
4,781
31.12.20
£
7,709
-
-
-
-
-
-
7,709		 31.12.19
£
149,916
-
-
149,916
31.12.19
£
653
-
1,703
-
2,356
31.12.19
£
6,078
1,688
(7,709)
2,245
538
423
3,738
7,001
Direct
Costs
£
46,754
184
6,878
53,816

continued...

Page 12

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

8. SUPPORT COSTS

9.

SUPPORT COSTS
Governance
Finance costs Totals
£ £ £
Other resources expended 1,790 1,500 3,290
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.20 31.12.19
£ £
Depreciation - owned assets 53,274 34,442
Surplus on disposal of fixed assets - (270)

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

During the year ended 31/12/2020 the trustees' expenses totalled £nil (2019: £446).

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
General
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,048
Charitable activities
Rental income
653
Events
1,703
Other trading activities
13,802
Investment income
149,916
Other income
270		 31.12.20
£
124,207
2,538
1,808
128,553
31.12.20
11
Restricted
funds
£
216,576
-
-
-
-
-		 31.12.19
£
136,183
4,350
2,117
142,650
31.12.19
15
Total
funds
£
220,624
653
1,703
13,802
149,916
270

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 13

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
Total
EXPENDITURE ON
Raising funds
Charitable activities
Miscellaneous income
Cafe and shop
Events
Museum
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13.
TANGIBLE FIXED ASSETS
Freehold
Plant and
property
machinery
£
£
COST
At 1 January 2020
1,105,044
34,048
Additions
32,258
-
Disposals
(3,775)
-
At 31 December 2020
1,133,527
34,048
DEPRECIATION
At 1 January 2020
-
11,483
Charge for year
19,270
4,514
At 31 December 2020
19,270
15,997
NET BOOK VALUE
At 31 December 2020
1,114,257
18,051
At 31 December 2019
1,105,044
22,565		 12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
Total
EXPENDITURE ON
Raising funds
Charitable activities
Miscellaneous income
Cafe and shop
Events
Museum
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13.
TANGIBLE FIXED ASSETS
Freehold
Plant and
property
machinery
£
£
COST
At 1 January 2020
1,105,044
34,048
Additions
32,258
-
Disposals
(3,775)
-
At 31 December 2020
1,133,527
34,048
DEPRECIATION
At 1 January 2020
-
11,483
Charge for year
19,270
4,514
At 31 December 2020
19,270
15,997
NET BOOK VALUE
At 31 December 2020
1,114,257
18,051
At 31 December 2019
1,105,044
22,565		 ACTIVITIES
Unrestricted
funds
£
170,392
6,540
-
68,900
-
9
81,433
156,882
13,510
222,670
236,180
Fixtures
and
fittings
£
259,931
3,273
-
263,204
41,709
25,602
67,311
195,893
218,222		 - continued
Restricted
funds
£
216,576
461
1,304
32,630
2,142
-
60,560
97,097
119,479
1,021,986
1,141,465
Office
equipment
£
12,089
1,997
-
14,086
8,852
3,888
12,740
1,346
3,237		 Total
funds
£
386,968
7,001
1,304
101,530
2,142
9
141,993
253,979
132,989
1,244,656
1,377,645
Totals
£
1,411,112
37,528
(3,775)
1,444,865
62,044
53,274
115,318
1,329,547
1,349,068

continued...

Page 14

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

14. FIXED ASSET INVESTMENTS

14. FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
At 1 January 2020 and 31 December 2020 1
NET BOOK VALUE
At 31 December 2020 1
At 31 December 2019 1
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Wirksworth Heritage Centre Trading Ltd
Registered office: 31 St Johns Street, Wirksworth, Matlock, Derbyshire. DE4 4DS
Nature of business: Café
%
Class of share: holding
Ordinary 100
31.12.20 31.12.19
£ £
Aggregate capital and reserves (83,492) (83,464)
Loss for the year (28) (83,465)
15. STOCKS
31.12.20 31.12.19
£ £
Stocks - 7,709
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£ £
Trade debtors 24,580 10,832
Amounts owed by group undertakings 88,817 81,392
Other debtors 1,990 -
VAT 1,171 -
Prepayments 8,106 7,666
124,664 99,890

Page 15

continued...

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£ £
Bank loans and overdrafts (see note 19) 1,875 -
Other loans (see note 19) - 24,000
Trade creditors 14,935 9,778
Social security and other taxes 4,151 4,454
Other creditors 41,000 41,000
Accrued expenses 2,319 2,860
64,280 82,092
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.20 31.12.19
£ £
Bank loans (see note 19) 43,125 -
Other loans (see note 19) - 18,000
43,125 18,000
19. LOANS
An analysis of the maturity of loans is given below:
31.12.20 31.12.19
£ £
Amounts falling due within one year on demand:
Bank loans 1,875 -
Other loans - 24,000
1,875 24,000
Amounts falling between one and two years:
Bank loans - 1-2 years 7,500 -
Other loans - 1-2 years - 18,000
7,500 18,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 22,500 -
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 13,125 -

Page 16

continued...

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

20. MOVEMENT IN FUNDS

Unrestricted funds
General fund
HLF Emergency funding
Restricted funds
Restricted
Heritage lottery fund
MDEM - GIS Expenditure
Furlough
Donation box fund
Arts Council
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
HLF Emergency funding
Restricted funds
Heritage lottery fund
MDEM - GIS Expenditure
Furlough
Donation box fund
Arts Council
TOTAL FUNDS		 At 1.1.20
£
236,180
-
236,180
170,000
946,767
24,698
-
-
-
1,141,465
1,377,645
as follows:		 Net
movement
in funds
£
6,635
34,038
40,673
-
(9,389)
(3,087)
545
1,076
145,047
134,192
174,865
Incoming
resources
£
78,763
66,300
145,063
103,609
-
32,241
1,175
145,532
282,557
427,620		 Transfers
between
funds
£
5,145
(299)
4,846
-
(4,656)
-
-
(190)
-
(4,846)
-
Resources
expended
£
(72,128)
(32,262)
(104,390)
(112,998)
(3,087)
(31,696)
(99)
(485)
(148,365)
(252,755)		 At
31.12.20
£
247,960
33,739
281,699
170,000
932,722
21,611
545
886
145,047
1,270,811
1,552,510
Movement
in funds
£
6,635
34,038
40,673
(9,389)
(3,087)
545
1,076
145,047
134,192
174,865

continued...

Page 17

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.19
£
Unrestricted funds
General fund
222,670
Restricted funds
Restricted
170,000
Heritage lottery fund
824,201
MDEM - GIS Expenditure
27,785
1,021,986
TOTAL FUNDS
1,244,656
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
170,392
Restricted funds
Heritage lottery fund
216,576
MDEM - GIS Expenditure
-
216,576
TOTAL FUNDS
386,968		 Net
movement
in funds
£
13,510
-
122,566
(3,087)
119,479
132,989
Resources
expended
£
(156,882)
(94,010)
(3,087)
(97,097)
(253,979)		 At
31.12.19
£
236,180
170,000
946,767
24,698
1,141,465
1,377,645
Movement
in funds
£
13,510
122,566
(3,087)
119,479
132,989

continued...

Page 18

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

20. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
HLF Emergency funding
Restricted funds
Restricted
Heritage lottery fund
MDEM - GIS Expenditure
Furlough
Donation box fund
Arts Council
TOTAL FUNDS		 At 1.1.19
£
222,670
-
222,670
170,000
824,201
27,785
-
-
-
1,021,986
1,244,656		 Net
movement
in funds
£
20,145
34,038
54,183
-
113,177
(6,174)
545
1,076
145,047
253,671
307,854		 Transfers
between
funds
£
5,145
(299)
4,846
-
(4,656)
-
-
(190)
-
(4,846)
-		 At
31.12.20
£
247,960
33,739
281,699
170,000
932,722
21,611
545
886
145,047
1,270,811
1,552,510

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
HLF Emergency funding
Restricted funds
Heritage lottery fund
MDEM - GIS Expenditure
Furlough
Donation box fund
Arts Council
TOTAL FUNDS		 Incoming
resources
£
249,155
66,300
315,455
320,185
-
32,241
1,175
145,532
499,133
814,588		 Resources
Movement
expended
in funds
£
£
(229,010)
20,145
(32,262)
34,038
(261,272)
54,183
(207,008)
113,177
(6,174)
(6,174)
(31,696)
545
(99)
1,076
(485)
145,047
(245,462)
253,671
(506,734)
307,854		 Resources
Movement
expended
in funds
£
£
(229,010)
20,145
(32,262)
34,038
(261,272)
54,183
(207,008)
113,177
(6,174)
(6,174)
(31,696)
545
(99)
1,076
(485)
145,047
(245,462)
253,671
(506,734)
307,854
54,183
113,177
(6,174)
545
1,076
145,047
253,671
307,854

continued...

Page 19

WIRKSWORTH HERITAGE CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 December 2020

21. RELATED PARTY DISCLOSURES

During the year the following transactions took place with related parties:

Monies due
Payments on Payments from
behalf of received from subsidiary as
subsidiary subsidiary @ 31/12/2020
£ £ £
Wirksworth Heritage Centre
Trading Limited Subsidiary 54,428 47,003 88,817

During the previous year the following transactions with related parties.

Monies due
Payments on Payments from
behalf of received from subsidiary as
subsidiary subsidiary @ 31/12/2019
£ £ £
Wirksworth Heritage Centre
Trading Limited Subsidiary 176,896 95,504 81,392

Page 20

WIRKSWORTH HERITAGE CENTRE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 December 2020
31.12.20 31.12.19
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 2,493 1,400
Gift aid 1,445 -
Grants 396,647 218,984
Membership 495 240
401,080 220,624
Other trading activities
Café, shop and gallery sales - 4,825
Shop income - 8,977
- 13,802
Investment income
Management charge 21,755 149,916
Deposit account interest 3 -
Other interest receivable 1 -
21,759 149,916
Charitable activities
Rental income 442 653
Events 387 1,703
Admissions to museum 3,024 -
Advertising revenue 928 -
4,781 2,356
Other income
Gain on sale of tangible fixed assets - 270
Total incoming resources 427,620 386,968
EXPENDITURE
Other trading activities
Opening stock 7,709 6,078
Purchases - 1,688
Cleaning - 2,245
Recruitment costs - 538
Training - 423
Bank loan interest - 3,738
Closing stock - (7,709)
7,709 7,001
Charitable activities
Wages 46,013 99,413
Carried forward 46,013 99,413

This page does not form part of the statutory financial statements

Page 21

WIRKSWORTH HERITAGE CENTRE

Charitable activities
Brought forward
Pensions
Advertising
Activities materials
Cleaning
Other
Wages
Social security
Pensions
Services
Council tax
Rent
Insurance
Repairs and maintenance
Conservation
Advertising and publicity
Training
Telephone
Postage and stationery
Subscriptions
Sundries
Legal and professional fees
Travel
Computer consumables
Security costs
Depreciation of tangible fixed
Bank loan interest
Other interest payable
Support costs
Finance
Bank charges
Governance costs
Accountancy fees
Total resources expended
Net income		 DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 December 2020
31.12.20
31.12.19
£
£
46,013
99,413
741
2,117
-
1,304
5,813
2,142
1,249
-
53,816
104,976
78,194
36,770
2,538
4,350
1,067
-
6,987
10,173
-
551
46
732
7,934
8,354
4,832
1,596
19
347
9,719
9,853
69
1,145
3,147
3,020
395
1,485
882
974
125
26
8,750
15,770
55
447
4,541
4,471
2,471
2,400
assets
53,274
34,442
2,870
-
25
-
187,940
136,906
1,790
3,596
1,500
1,500
252,755
253,979
174,865
132,989		 DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 December 2020
31.12.20
31.12.19
£
£
46,013
99,413
741
2,117
-
1,304
5,813
2,142
1,249
-
53,816
104,976
78,194
36,770
2,538
4,350
1,067
-
6,987
10,173
-
551
46
732
7,934
8,354
4,832
1,596
19
347
9,719
9,853
69
1,145
3,147
3,020
395
1,485
882
974
125
26
8,750
15,770
55
447
4,541
4,471
2,471
2,400
assets
53,274
34,442
2,870
-
25
-
187,940
136,906
1,790
3,596
1,500
1,500
252,755
253,979
174,865
132,989
assets
104,976
36,770
4,350
-
10,173
551
732
8,354
1,596
347
9,853
1,145
3,020
1,485
974
26
15,770
447
4,471
2,400
34,442
-
-
136,906
3,596
1,500
253,979
132,989

This page does not form part of the statutory financial statements

Page 22