REGISTERED COMPANY NUMBER: 02402198 (England and Wales) REGISTERED CHARITY NUMBER.. 702067 Rewt ol Ihe Trustees ond Flnancial St(rtemen15 lor the Year Ended 31 December 2023 for Eyam Museum Llmlled Landin Wilcock & Co statutory Auditor 68 Queen Slreet Sheffield South Yorkshire SI IWR
Eyam Museum Limlted (Reglslered number. 02402198) Report of the Trustees for the Year Ended 31 December 2023 The Irustees who are also directors of the chority for the purposes of the Companies Act 2006, present their reporl with the financial statements of Ihe churily for the year ended 31 December 2023. The trustees have adopted lh& provisions of Accounting and Reporting by Charities.. Statement of Recommended Proctice applicable to charitie5 preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK ond Republic of Ireland IFRS 1021 (effective l January 20191. PURPOSE The Charily is established for the educalion of members of the general public by the collection, pre5ervalion and display of every kir)d and informalion concerning the social. industrial and geological history and environment of the Village of Eyam in Derbyshire including the exhibition and explanalion of such collection of objecls and information and the housing of every kind of printed material and manuscripls a5 may be donated or loaned to Ihe Company and the provision of ancillary services including gift shop for Ihe benefit of such members of the general public. Ovr vislon To inspire people through Ihe big story of our smoll villoge and to share new and as yel untold stories with everybody. Our mlsslon Our Mission is to present the history of Eyam and its people in ways that are educational, informotive and enjoyable, with porticular focus on the inspiring story of Eyam Plague11665 -661. We aim to reach a broad and diverse audience, catering for vorying visitor requirements in acce55ing our displays and exhibitions, and to provide resources and focililies for education and reseorch. To achieve this, we will apply the highest Standards of curatorial care and museum manogement, acting 05 a role model for museums of our scale. Our values We aspire to.. Share our collection in an inclusive and inspirational manner Tell the unique story of Eyam in on engaging and educational woy Follow best practice in all aspecls of our organisation Behave transporently, consislently and respectfully in all our interaction OBJECTIVES AND ACTIVITIES Objectlves and aims The objective5 of the charity are to develop and maintain the museum in Eyam to house and exhibit Ihe "Daniels Collection We plon to meet our objective5 by continuing to raise awarenes5 of the plague of 166511666 to increase visitor numbers. The companvs subsidiary undertaking, Eyam Museum Trading Limited. is responsible for the running of the museum gift shop. We have referred to the guidance conloined in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. Publlc benefit The trustees confirm that they have complied with the requirements of section 4 of the Charilies Acl 2011 to hove due regard to the public benefil guidance published by the Charity Commission for England and Wales. Volvnteers All trustees are volunteers and give their time and expertise to the charity wilhout recompense. Trave1 and subsistence expense5 are reimbursed where necessarily incurred. FINANCIAL REVIEW Flnanclal posltlon Page I
Eyam Museum Llmlted (Reglstered number: 02402198) Report of the Trustees for the Year Ended 31 December 2023 2023 saw a very strong growth in visilor numbers and admissions income over previous years. The Charity's net surplus for Ihe period excluding property revaluation was £8,51012022: surplus of £17,278). Prlncipal fundlng source5 The principal funding source for the company is admission sales. Expenditure is in respecl of the mointenance of the museum to meet the objectives of the charity. No funding is received from public sources except from occasional granls to fund specific projecls. Inveslment policy and objectives Under the Articles of A550Ciation, the charily has the power to make any investment that Ihe Iruslees see fit. The tru5tee5 have taken a prudenl approach lo this and any surplus funds have been invesled in high interest eaming bank occounts all of which are covered by the UK Govemment Financial Services Compensation Scheme. Reserves pollcy The trustees have e5tabli5hed the level of reserves thot the charily oughl to have Ithot is those funds thol are freely available). Re5erve5 are needed lo bridge the gap between expenditure on managemenl and odministrolion and receiving income from grants. The actual reserves ot 31 December 2023 were £325.343 12022= £308,798) which wos £225,343 above our torget figure of £IOO,WO. This target represenled one year's normal operating expenses with the remainder accruing to fund the Museum's choritoble objeclives of improving the experience for visitors 05 oullined in the slralegic plan. Golng concern The charity has recovered from the financial impact of Covid 19 during 2020 and 2021 and afler a review of admission prices ot the end of 2021. admission prices were raised in 2022 which had no negative impact on admission figure5 but resulted in a significant increase in admission income levels to over £1 CK)k. The budgeted surplus was achieved. The chority will a150 continue to support it5 subsidiary, Eyam Museum Trading Limited, which continue5 to have negotive resetves in 2023. However, owing to increased lumover since early 2022 the trading compony is oble lo aclively pay off the debl owed. Continuing positive results post year end will enable the company to provide support through gift aid. FUTURE PLANS Alms ond key objectlves for future perlods As described in the Forward Plan seclion of our Reaccreditation Application our objective5 for the next ffve years fall under the following headings- Strategic Developmenl Objectives- Maintaining and developing our audiences Improving our facilitie5 Improving interpretation Collections Development Objeclives Making best use of our colleclions Finding and presenting new stories Enabling Objectives Developing collaboratian5 Developing sources of income generalion Contributing to underslonding the history of the plague Page 2
Eyam Museum Limiled (Registered number: 02402198) Report of the Trust•es for the Year Ended 31 December 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The chority is controlled by its goveming documents. the Articles of Association adopted in July 2016. and constitutès o limiled company, limited by guarantèe. as defined by the Companies Act 2006. Tony Parsons stepped down as Chairman on September 30th 2023 and was replaced by Richord Coates. There were no other change5 among Ihe trustees and the staff during thi5 financial year. All trustees ahead of appointment are issued with documents which outline their re5ponsibililies within and lo the charily. Organlsatlonal struclure The trustees review and monitor management accounts and operational issues at a monthly management committee meeting. Not all members of Ihe management commitlee are trustees. The trustee5. as directors. meet formally every quarter and delermine Strategy accordingly. The charity has a business manager, Shop manoger and curolor who oll work part time and in tandem and are responsible for the doy to day running of the operations of Ihe museum ond the shop. They are supported by a part time qualified bookkeeper. M05t front of house p05ilion5 are filled by volunteers, with some shifts filled by port time seasonal employees. Related portles Franclne Cllfford Francine Clifford is a trustee of Eyom Museum Limited and a director of Eyam Museum Trading Limited. A summory of the transactions with thi5 party are sel out in the note5 to the financial 51atemenls. Rlchard Coates Richard Coate5 is a trustee of Eyam Museum Limited. A summary of the transactions with Ihis party ore sel out in the notes to the financial statements. Rlsk management The Iruslees have a duly lo identify and review the risks lo which the charity is exposed and to ensure appropriate controls are in ploce to provide reasonable assuronce against fraud and error. The Irustees consider the Iwo major risks to be a reduction in visitor numbers and a reduction in volunteers. A risk assessment is maintoined to monitor and review potentiol risks. Financial insltumenls Objectives and policies The charity's activities expose it lo a number of financial risks including credit risk, cash flow risk and liquidity risk. Credit risk The charity's principal finoncial assels are bank balances and cash. trade and other receivable5 and investment5. The charity's credit risk 15 primarily ollributable to ils trade receivables. The arnounts presented in Ihe balance sheet are net of allowances for doubtful receivable5. An allowance for impairment is mode where there is on identified loss evenl which, based on previous experience, 15 evidence of a reduclion in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counler porlies ore banks with high credit-ratings assigned by internolional credit-rating agencies. The charity has no significonl concenlrotion of credit risk. wilh @Xposure spreod over a large number of counter partie5 and cuslomers. REFERENCE AND ADMINISTRATIVE DETAILS Registered Compony number 02402198 (Englond and Wolesl Page 3
Eyam Museum Limited (Registered number: 02402198) Report of the Trvstees for the Year Ended 31 December 2023 Reglslered Charlly numbèr 702067 Registewed olllce Hawkhill Road Eyam Hope Valley Derbyshire 532 5QP Trustees Mrs F M P Clifford Mr C A Parsons (resigned 30.9.231 Mr J Thomp5tone Mrs P Tofield William5 Mrs C A Rawson Mr R L Coates Mr I Smith Mrs C A Mealing Mr P 8racey lappoinled 20.3.241 M5 N Rees (appointed 20.3.241 Ms A Ryall (appointed 20.3.241 Company Secrelory M5RAWise Audltors Landin Wilcock & Co Slalutory Auditor 68 Queen Street Sheffield Soulh Yorkshire SI IWR Bankers National Weslminster Bank PIC I Water Lane Bokewell DE45 1 YY StATEMENT OF TRU5fEES' RESPONSIBILITIES The trustee5 Iwho are also the directors of Eyam Museum Limited for the purpose5 of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Uniled Kingdom Accounling Standards Iuniled Kingdom Generally Accepled Accounting Practice). Company law requires the trustees to prepare financial slatement5 for each financia1 year which give a true and fair view of the state of affairs of the charitable company ond 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 lo select suitable occounting policies and then apply them consistently.. obseNe the method5 ond principles in the Charity SORP,. make judgements and estimates thot ore reasonable and prudent," prepore Ihe financiol statemen15 on Ihe going concem basis unless it is inappropriate to presume that the charilable company will continue in bu5ine5S. Page 4
Eyam Museum Limit•d (R•gistered number: 02402198) Report ol the Trustees for the Year Ended 31 December 2023 STATEMENT OF TRUSTEES, RESPoNSIBILrEs - contlnued The Irustees are responsible for keeping proper accounting records which disclose with reasonable occuracy ot any time the financial position of the chorilable company and to enoble them to ensure Ihot Ihe financial statements comply with the Companies Act 2006. They are also responsible for sofeguarding the as5els of the chariloble company ond hence tor taking reasonable 5tep5 for the prevention and deleclion of fraud and other irreguloritie5. In so far as the trustees are aware.. there is no relevanl audil informalion of which the charitable company's auditors are unaware.. and the Irustees have taken all step5 that they ought to have taken lo make themselves aware of any relevant audit information and to establish thot the auditors are aware of thal informalion. Company law require5 the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial 5tatement5 unless they are satisfied that they give a true and foir view of the slale of affairs of the chorilable compony ond of its incoming resources and application of resources. Approved by order of the board of Iru5tee5 on 12 June 2024 and signed on its behalf by: Mrs C A Rawson- Trustee Poge 5
Report of the Independent Avdltors lo the Trustees of Eyam Museum Llmtt•d Oplnlon We have audited the financial statements of Eyam Museum Limited (the 'charilable company'l for the year ended 31 December 2023 which comprise the Statemènt of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounling policies. The financial reporting framework that has been applied in their preparolion is applicable low and United Kingdom Accounting Standards (United Kingdom Generolly Accepted Accounting Praclicel. In our opinion the financiol 5tatements'. give a true and fair view of the state of Ihe charitable company'5 offair5 a5 at 31 December 2023 and of its incoming resources and applicalion of resources, including its income ond expenditure. for Ihe year then ended", hove been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; ond have been prepared in accordance wilh the requirements of the Companies Act 2006. Basls lor opinion We conducted our audit in accordonce with Inlernational Slandard5 on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Audilor5' responsibilities for the oudit of the financial statements section of our report. We are independent of Ihe charitable company in accordonce with the ethical requirements that are relevant to our audil of the financial statements in the UK. including the FRC'5 Ethical Slandord, and we have fulfilled our olher elhical responsibilities in accordance with these reqviremen15. We believe that the audit evidence we have obtained is sufficient ond appropriale to provide o basis for our opinion. Concluslons relatlng to going concem In auditing the financial statements, we have concluded that the Irusleos, use of Iha going concom basis of occounting in the preparation of the financial statements is appropriate. Bosed on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that. individually or colleclively, moy cost significant doubt on the charitable company's ability to continue 05 a going concern for a period of at leost twelve months from when the financial slalements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Informotion The trustees are responsible for the other information. The other informalion comprises the information included in the Annual Report, other Ihan the financial statements and our Report of the Independent Auditors thereon. Our opinion on the finonciol statements does not cover the other information and, excepl lo Ihe extent otherwise explicitly stated in our report, we do not expres5 any form of 05surance conclusion thereon. In connection with our audit of the financial slalemenls. our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial 5tatemen15 or our knowledge oblained in Ihe audit or otherwise appears to be MaterialY misstated. If we identify such material inconsistencie5 or apparenl molerial mi55talements, we are required to determine whether this gives rise to a material misstatement in the financial slatemenls themselves. If, based on the work we have performed, we conclude thal there 15 0 moterial misstalemenl of this other information, we are required lo report that fact. We hove nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of Ihe following matters where the Charities (Accounts and Reports) Regulotions 2CKI8 requires us to report lo you if. in our opinion: the information givon in the Report of the Trustees is inconsistenl in ony material respect wilh the financiol slalements: or Ihe charitoble company has nol kepl adequate occounting records", or the financial 51atements are not in ogreement with the occounting records ond returns; or we have not received all the information and explanations we require for our audit. Page 6
Report of the Independent Auditors lo the Trustees of Eyam Museum Llmlted Respon$ibilllies ol tru$tees As explained more fully in the Statement of Truslees. Responsibilities, the trustee5 (who ore a150 thè directors of the charitable company for the purposes of company lowl are responsible for the preparation of the finoncial stolement5 ond for being satisfied thal they give a true and fair view, and for such internal conlrol as the trustees delermine is necessary to enable the preparation of financial statements that ore free from material misstatemenl. whether due to fraud or error. In preparing the financial statements, Ihe trustees are responsible for assessing the chariloble company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going concern ba515 of accounting unles5 the Irustees either intend to liquidate the charilable company or lo cease operations, or have no realistic alternalive bul to do 50. Our responslbllltles for the audit of the flnanciol statements We hove been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives ore to obtain reasonable assurance about whether the financial statements as a whole are free trom material misslatement, whether due to fraud or error, and to Issue a Report of the Independent Avditors that includes our opinion. Reasonable 055urance 15 a high level of assurance, but 15 not o guarantee that an audit conducted in occordance wilh ISAS IUKI will olways detect a material mis51alement when it exists. Misstatements con arise from fraud or error and are considered materiol if. individuolly or in the aggregate, they could reasonably be expecled to influence the economic decisions of users token on Ihe basi5 of these financial 51atemenl5. minimal reliance was placed upon the operating effectiveness of internal controls in the design ond performonce of our substontive procedures., discussions were held with monogement considering known or Suspected non-compliance with laws. regulations ond fraud,. joumal entries were reviewed for any entries made outside the ordinary reporting processes wilh particular emphasis on those with unusual account combinotions, entries crediting incoming resources and those without specific descriptions,. management assumptions in their significant accounting estimates were challenged and scrutinised. There are inherent limitation5 in Ihe audit procedures described above, and the further removed non-complionce with laws and regulations is from Ihe events and transactions reflected in the financial slotements, the les5 likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulling from error, as fraud may involve deliberate concealment by, for example, forgery or inlenlional mi5repre5entations, or through collusion. A further description of our responsibilities for the audit of the financial statement5 is located on the Financial Reporting Council'5 website at www.frc.org.uklauditorsresponsibilities. This <Jescription forms parl of our Report of the Independent Audilors. Page 7
Report of th& Independent Audltors to the Trustees of Eyom Museum Llmlted Use ol our report This report is mode 501ely to the charitable company's trustees. as a body, in accordance with Part 4 of the Chorities IAccounts and Reports) Regulolions 2008. Our audit work has been undertaken so that we might slate to the charitable company's trustees those matters we ore required to state to them in an auditor5, report ond for no other purpose. To the fullest extent permitted by low, we do not accept or assume responsibility to anyone olher than the charitable company and the charitable company's trustees as a body, for our audit work, f r this report, or for the opinions we have formed. for and on behalf of Landin Wilcock & Co Slatutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 68 Queen Street Sheffield South Yorkshire SI IWR 12 June 2024 Page 8
yam Museum Llmlted stotement ol Financial Actlvllles (Incorporating an Income and Expendlture Account} foi the Year Ended 31 December 2023 Period 1112121 to 31/12122 Total funds Year Ended 31112123 Total lunds Unreslrlcted Restricted Ivnds lund Notes INCOME AND ENDOWMENTS FROM Chailloble actlvlties Exhibitions Donalions ond legacie5 other income 119.894 1.190 345 119,894 21,373 345 107.562 791 345 20,183 Investment income 5.147 5.147 791 Total 126,576 20,183 146,759 109,489 EXPENDITURE ON Roising fund5 137.972 137.972 92,211 Chaimable acllvllles Donations and legacies 277 277 Tolal 138,249 138,249 92.211 NET INCOME/(EXPENDITURE) Tronsfers befvleen funds Other recognlsed galnsl(losses) Gains on revaluation of fixed assets 111,6731 6.585 20.183 16,5851 8,510 17,278 92,500 92,500 Net movemenl in lunds 87,412 13,598 101,010 17,278 RECONCILIATION OF FUNDS Tolal funds brought forward 571.980 5,884 577,864 560,586 TOTAL FUNDS CARRIED FORWARD 659,392 19,482 678,874 577.864 The notes form part of these financial statements Page 9
yam Museum Limited (Registèred number: 02402198) Balance Sheet 31 December 2023 31112123 Total funds 31112122 Total lunds Unrestrictéd Restricted funds fund Notes FIXED ASSETS Tangible 05sets Inve51ments 353,529 353,529 269.064 353.531 353,531 269.066 CURRENT ASSEtS Debtors Cash at bank and in hand 21,647 291.508 21.647 310,990 36,685 275.385 14 19,482 313,155 19.482 332.637 312,070 CREDITORS Amounts folling due within one year 15 17.2941 17.2941 13,2721 NET CURRENT ASSETS 305,861 19,482 325,343 308,798 TOTAL ASSETS LESS CURRENT LIABILITIES 659,392 19,482 678,874 577,864 NET ASSETS 659,392 19,482 678,874 577,864 FUNDS Unrestricted fund5 Restrictod fund5 659,392 19,482 571,980 5,884 TOTAL FUNDS 678,874 577,864 The charitable company is entitled lo exemption from audit under Section 477 of the Companies Acl 2Q)6 for the year ended 31 December 2023. The members have not deposited notice. pursuant to Section 476 of the Companies Act 2W6 requiring an audil of these tinancial stalements. The trustees acknowledge their responsibilities for lal ensuring Ihat the charitable company keeps accounting records Ihot comply with Sections 386 and 387 of the Companies Act 2006 and 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 surplu5 or deficil for each financial year in accordance with Ihe requirements of Sections 394 and 395 and which otherwise comply with Ihe requirement5 of the Componies Act 2CX)6 relating to financial statements. so far as applicable to the charitable company. Ibl These financial statements have been oudited under the requirements of Section 145 of the Charities Act 2011. The notes form part of these financial statements Page 10
yam Museum Limited (Registered number. 02402198) Balance Sheet - conllnued 31 December 2023 These financial statements have been prepared in occordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statement5 were approved by the Board of Truslees ond outhorised for issue on 12 June 2024 and were signed on its behalf by: Mrs C A Rawson - Trustee The notes form part of these financial statements Pagell
Eyam Museum Llmlted Not•$ to the Financial Stalemenls for Ihe Year Ended 31 December 2023 CHARITY STATUS Eyom Museum Limitecl is a charity registered in England ond Woles, limited by guarante@ and consequently doe5 not have share capilal. Each of the trustees is 5iable to contribule an amount not exceeding £5 towards the assets of the charity in the event of liquidatlon. ACCOUNTING POLICIES Bosls of preparlng the financlal statements The financial slatements of the charilable company. which is a public benefit enlity under FRS 102, have been prepared in occordonce with the Charities SORP IFRS 1021 'Accounting and Reporting by Charitie5: Slatemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK ond Republic of Ireland, and the Companie5 Act 2006. The financial statements hove been prepared under the hislorical cost convenlion, with the exception of investments which are included at markel value, as modified by the revaluation of certain assets. The presentation and functionol currency is considered to be pounds sterling becouse that is the currency in the primary economic environment in which the charily operates. Going concern The financial Statements hove been preparad on o going concern b051S. The trustees assess whether the use of going concem is appropriate i.e. whether there ore any material uncertainties related to event5 or conditions that may cast significant doubt on the ability of the charily lo continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Exemption Irom preparlng a cash flow statement The charity opted to adopt Bulletin I published on 2 Februory 10 and have therefore not included a cash flow statement in these financial statements. Judgemenls In preparing these financial Statements the Irustees have hod lo make judgements, estimates and assumptions that affect the application of policies and reported amounts of os5ets, IabilI11es. income and èxpenses. The estimates and associated assumptions ore based on historic experience ond various other factor5 that are believed to be reasonable under the circum5tonces, the results of which form the basis of making the judgemenls oboul carrying values of assets and liabilities and are not readily apparenl from other sources. Actual results may cliffer from these estimates. The significanl eslimates and assumptions are.. Tangible fixed a55ets Tangible fixed assels are depreciated over their useful live5 taking into account residual values. The tru5tee5 periodically reviews the major classes of a55ets to ensure Ihat the periods over which they are depreciated 15 appropriate. Disclosure ol long or short perlod The company has extended its financial period to cover the thirteen month5 to 31 December 2022. The comparative amount5 presenled in Ihe financial statements are not entirely comparable as Ihey cover a Melve month period. Preparatlon of consolldated tinoncial statements The financiol stotements conlain information about Eyom Museum Limited as an individua5 company ond do not contain con501idoted financial information os the parent of a group. The charity is exempt under Section 39912AI of Ihe Componies Acl 2006 from the requirement5 to prepare consolidaled ff nancial statement5. Page 12
Eyam Museum Limlted Notes to Ihe Financial Statements - contlnued tor Ihe Year Ended 31 December 2023 ACCOUNTING POLICIES - contlnued Income All income 15 recognised in the Slatement of Financial Aclivities once the chority has enlitlement to the funds. it is probable that the income will be received and the omounl can be measured reliably. Income is staled after trade discounts and other sales taxes. Donatlons and legacies Donations are recognised when Ihe charity has been notified in writing of bolh the amount and settlemenl date. In the evenl Ihal a donalion is subject lo conclitions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and nol recogni5ed until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity ond it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity h05 an entitlement lo the funds and any condilion5 linked lo the grants have been met. Where performance conditions ore attached to the grant ond ore yet to be mel, the income is recognised 05 a liabilily ond included on the bolonce sheel as deferred income to be released. Conditions relating lo oll gran15 received in the year hove been met and are therefore appropriolely recogni5ed as grant income. Defwied Income Deferred income represenls amounts received for fufure periods and is released to incoming resources in the period for which, it has been received. Such income 15 only deferred when.. - The donor specifies Ihol the granl or donalion must only be used in future accounting periods., or The donor has imposed condition5 which must be met before Ihe charity has unconditional entitlement. Inveslment income Dividends are recognised once Ihe dividend has been declared and notificalion has been received of Ihe dividend due. Interest is recognised once the charity become5 entitled to the funds. Other Income Insurance settlements ore recognised when the charity has eslablished its entitlemenl lo the reimbursement of the insured loss, the receipt of that reimbursement 15 virtually certain and its omount can be measured reliably. Expendlture Liabilitie5 are recogni5ed 05 expendilure as soon as Ihere is a legal or con51ructive obligalion committing the charity to that expenditure. it is probable thal a transfer of economic benefils will be required in settlement and Ihe amounl of Ihe obligation can be measured reliably. Expendilure is accounted for on an accrua15 basis and ha5 been classified under headings that oggregale oll cost related to the category. Where costs cannol be directly attributed to particular headings they have been allocaled to activitie5 on a basi5 consistent with the use of resource5. All resource5 expended are inclusive of irrecoveroble VAT. Tongible flxed assets Depreciation is provided ot the following annual rales in order to write off each asset ovar it5 e5timoted useful life. Freehold property Plant and machinery Fixtures and fittings 2% on c05t 20% on cost and IO% on cost 20% on cosl and IO% on cost Page 13
yam Museum Limlled Notes lo the Flnanclal Statements - conlinved for the Year Ended 31 December 2023 ACCOUNTING POLICIES - contlnued Related Par exemptlon The charitable company ha5 taken odvantage of exemption. under the terms of Financial Reporting standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. not to disc105e related party transaction5 Wlth wholly owned subsidiaries within the group. Taxation The charity is exempt from corporation tax on its charitable activities. Fund occovnllng Unreslricted funds can be used in accordance with the charitable objectives al the discretion of the Irusfees. Restricted funds can only be used for particular restricted purposes wilhin the objects of the chority. Restriction5 Qri5e when Specified by Ihe donor or when funds are raised for porticulor restricted purposes. Further explanalion of the nature and purpose of each fund is included in the notes to the financial slolements. Hlre purchase and leasing commilments Rentals paid under operating lease5 ore charged to the Statement of Financial Activitie5 On a straight line basis over the period of Ihe leo5e. Finonciol insliuments Classlflcatlon Finoncial ossets and financial liabilities are recognised when the charity becomes a party to the conlractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the conlraclual arrangements entered into. An equily instrumenl is any contract that evidences a residual interest in the ossets of the charily after deducting all of its liabilities. Flnanclal assels Trade and other debtors Trade and other debtors which are receivoble within one yeor are initiolled meosured ot the transaction price. Trade and other debtors are subsequently measured at amortised cost. being the Iransaction price less ony amounts settled and any impairment losses. A provision for impairment of trade debtors Is eslablished when Ihere is objeclive evidence that the omounls due will not be collected according to the original terms of the contract. Impairment 1055es are recogni5ed in profit and loss for the excess of the corrying value of the Irode debtors over the present value of Ihe future cash flows discounted using the original effective interest rate. Subsequent rever5015 of an impairment loss Ihat objeclively relate to an evenl occuring afler the impairmenl loss was recognised. are recognised immediately in profit and1055. Financial liabilitie5 and eqully Finonciol liobililies ond equity inslruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contracl Ihat evidences a residual interest in the assets of the company after deducting all of its liobilitie5 Equlty Instruments Financiol instrument5 classified as equity instruments ore recorded at the fair value of the cash or other resources received or receivobla, n&1 of direcl costs of issuing the equity instruments. Trade ond olher creditors Page 14
Eyam Museum Llmited Notes to the Financial Statements - contlnued for the Year Ended 31 Dècembèr 2023 ACCOUNTING POLICIES - contlnued Fintsncial instruments Trade and other creditors payable within one year are initially measured at the transaction price ond subsequently measured at amortised cosl, being Ihe transaction price less any amounts sellled. Investments Investments in subsidiaries and o5sociates are measured at C051 le55 impairment. INVESTMENT INCOME Period 1112121 to 31112122 Year Ended 31112123 Deposit account interest 5.147 791 INCOME FROM CHARITABLE ACTIVITIES Perlod 1112121 to 31112122 Year Ended 31112123 Activity Exhibition5 Donations and legacies Donations ond legocies other income Exhibilions Donations Grants Rental income 119,894 1,277 20.096 345 107.562 791 345 141,612 108,698 Gronts received. included in the above, are as follows: Perlod 1112121 Yeor Ended 31112123 31/12122 Grant5 received 20.096 Page 15
Eyam Museum Llmlted Notes lo the Financlal Stotem•nts - continued tor the Year Ended 31 December 2023 RAISING FUNDS Charftable actlvllles Perlod 1112/21 Year Ended 31112123 31/12/22 staff costs Offfice, post and stationery Sundries Legal & professional fees Publicity Projecl Costs Room Hire Travel Depreciotion Support Costs 56,354 1,974 3,159 1.369 2.778 42,056 581 2,307 9,138 18,256 53.486 1.945 1.477 288 1.561 4,667 549 925 7,626 19.687 137,972 92.211 CHARITABLE ACTIVITIES COSTS Direct Costs Donations and legacies 277 NET INCOMEI(EXPENDITURE) Net incomellexpenditurel is sloled ofter charging/lcreditingl'. Period 1/12121 to 31112122 Year Ended 31112123 Auditors, remuneration Depreciation - owned a55els other operating leases 3,240 9,138 277 3,621 7.626 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or olher benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022. Page 16
Eyom Museum Limited Notes to the Flnanclal Statements - contlnued lor th• Year Ended 31 December 2023 TRUSTEES. REMUNERATION AND BENEFITS - conllnued Trustees. expenses Richard Cootes hod expenses paid during the period of £Nil12022'. £771 relating lo the altendance of an Association of Independent Museum5 conference . STAFF COSTS The average monthly number of employee5 during the year was a5 follow5.. Period 1112121 to 31112122 Year Ended 31112123 staff Trustees No employees received emoluments in exce55 Of £60,1XJO. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted Restrlcted funds fund Total funds INCOME AND ENDOWMENTS FROM Chariloble actlvllles Exhibitions Donations and legacies other income 107,562 107,562 791 345 791 345 Investmenl income 791 791 Totol 108.698 791 109,489 EXPENDITURE ON Raising funds 92,211 92.211 NET INCOME 16,487 791 17,278 RECONCILIATION OF FUNDS Total funds brought forward 555,493 5,093 560.586 TOTAL FUNDS CARRIED FORWARD 571,980 5,884 577.864 Page 17
Eyam Musevm LimiTred Notes to the Flnanclal Slatemenls - contlnued for the Yeor Ended 31 December 2023 TANGlblE FIXED ASSETS Fixlures and fittings Freehold prope Plant and machinery Totals COST OR VALUATION Al l Jonuary 2023 Additions Revaluations 300,000 91.604 883 17,583 220 409,187 1,103 50.000 s).(K)o At 31 December 2023 350,(X)O 92,487 17,803 460,290 DEPRECIATION At l January 2023 Charge for year Revoluation adjustments 36.5txJ 6.OCYJ 142,5CQI 87.397 2,745 16.226 393 140,123 9.138 142,5001 At 31 December 2023 90,142 16,619 106,761 NET BOOK VALUE Al 31 December 2023 350,000 2,345 1.184 353,529 At 31 December 2022 263,0 4,207 1,357 269,064 Cost or valuation at 31 December 2023 is represented by- Flxtures and flttlngs Freehold property Planl and machinery Totals Valuation in 2020 Valuation in 2023 Cost 52,062 50,0(J) 247.938 52.062 50,000 358,228 92,487 17,803 350,000 92,487 17,803 460,290 Revaluolion The fair value of the company's Land and 8uildings was revalued on October 2023 10 £350,000 by Ren5haw Chartered Surveyor5 who are extemal lo the charity. The market value of the property at valuation was £300,000. The original cost of the property was £247,938. The trustees consider the net book value lo be reasonable. Had thi5 c105s of 05set been measured on a historical cost basis, Iheir carrying omounl would have been £139.77512022 - £144,735). other consideratlons Eyam Museum Limited houses the artefacls known as the "Daniels Collection which was gifted to the charity to tell the story of the village heroism during the plague. No reference is made on the balance sheet as no financial considerotion wos given. Fixed assets are included in the balance sheet ot revolued amounts. Page 18
Eyam Mvseum Llmlled Notes to the Financlal Statements - continued for the Year Ended 31 December 2023 12. FIXED ASSET INVESTMENTS Unllsted Investments MARKET VAIUE At l January 2023 and 31 December 2023 NEf BOOK VALUE At 31 December 2023 At 31 December 2022 There were no investment 05se15 Outside the UK. The company's investments at Ihe balance sheet date in the share capitol of companies include the following- yarn Museum Tradlng Llmlted Registered office.. England and Woles Nature of business.. Museum gift shop Class of shore: Ordinary holdlng 31112123 31112122 Aggregate capital and reserves Profit for the year/period 5,554 10,130 14.5761 5.886 For the period ended 31 December 2023 Eyam Museum Trading Limited had a turnover of £55.433 and expenditure of £46,779 resulting in a profit of £8,654. Eyam Museum Trading Limited is responsible for Ihe running of the museum gift shop. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31112123 31112122 Trade deblors Amounts owed by group undertakings Olher deblor5 Prepayments 670 18,090 186 2.701 456 33.763 99 2.367 21,647 36,685 Page 19
Eyam Museum Llmlted Notes to the Flnanclal Statements - continued for the Year Ended 31 December 2023 14. CASH AT BANK AND IN HAND 31112123 Total funds 31/12122 Total funds Restricted General Income fund Cash in hond Bank account no. I Bank deposit account 61 4,328 287,119 61 4.328 306,601 23.432 251.953 19.482 Total 291,508 19,482 310,990 275.385 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31112123 31112122 Trade creditors Accrued expenses 3,387 3,907 47 3.225 7,294 3.272 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due a5 follow5: 31112123 31112122 Within one year Between one and five yeors 530 2,121 2.651 17. MOVEMENT IN FUNDS Net movement in funds Translers between funds At 31112/23 At 111/23 Unreslrlcled funds Generol Revaluotion reserve 453,215 118,765 110,6331 91,460 6,585 449,167 210.225 571,980 80,827 6.585 659.392 Reslrlcled funds Restricted income fund 5,884 20,183 16,5851 19.482 TOTAL FUNDS 577,864 101,010 678,874 Page 20
yam Museum Llmlled Notes to the Financial Statements - continued for the Year Ended 31 December 2023 17. MOVEMENT IN FUNDS - contlnved Net movement in fund5, included in the above are as follows: Incomlng resources Resources expended Galns and Movement losses in funds Unrestrlcted funds General Revaluation reserve 126.576 1137,2091 11 ,0401 110.6331 91.460 92,500 126,576 1138,2491 92,500 80.827 Restrfcted funds Restricted income fund 20,183 20,183 TOTAL FUNDS 146.759 1138.2491 92,500 101,010 Comparallves for movement in funds Net movement in funds At 1/12121 At 31112/22 Unreslrlcted funds General Revaluation resefye 435,601 119,892 17,614 11 1271 453,215 118,765 555,493 16.487 571,980 Restrlcled funds Restricted income fund 5,093 791 5,884 TOTAL FUNDS 560,586 17,278 577,864 Comporotive net movemenl in funds, included in the above ore os follow5- Incoming resources Resources expended Movement in funds Unieslricled funds General Revaluation reserve 108,698 191,0841 11 1271 17,614 11,1271 108,698 192,2111 16,487 Restricted funds Restricted income fund 791 791 TOTAL FUNDS 109,489 192,2111 17.278 Reslrlcled funds The specific purposes for which the funds are lo be applied are as follows.. Page 21
Eyam Museum Limitred Notes to the Flnanclal Statements - contlnued for the Year Ended 31 December 2023 17. MOVEMENT IN FUNDS - contlnued The reslricted funds relate to donations which ore held as fund5 lowords Ihe study support centre for researcher5 to review our archivos. The trustee5 envi50ge Ihe next new project will commence in the coming years. 18. RELATED PARTY DISCLOSURES Franclne Cllfford IA trustee of the charity and a director of Eyam Museum Trading Limited) During the year Francine Clifford received royalties on book sales made in Eyom Museum Trading Limited totalling £58312022 - £6631. As part of the royalty ogreement Francine Clifford donated £87 12022 - £991 to the charity study centre reserve. At the balance sheet dote the omount due from Francine Clifford was £18712022 - £991. Rlchard Coates IA truslee of the charity) Richard Coates is a director and shareholder of The Harpsden Press, who provide books for the charity's subsidiary Eyam Museum Trading Limited. The total amount paid to The Harpsden Press by the charity's subsidiary during the year was £Nil 12022: £1671. The amounl owed to The Harpsden Press at the balance Sheet date 15 £Nil12022.' £Nill. Richard Coates also had expenses paid during Ihe period of £Nil 12022.. £771. Page 22