Registered number: 02290819
Charity number: 800074
ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Museum. its Trustees and Advlsers
Chaimian's Statement
Trustees. Report
Independent Examinerfs Report
statement of Financial Activities
7-10
12
Balance Sheet
13-14
Notes to the Flnanclal Statements
15-30

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
R J Brittain. Finance Officer
M D Carter (resigned 19 July 2023)
G C R Chapman (appointed 19 July 2023)
EBElam
M Fletcher, Chairman
C J Jones
J K Sinfield
C Slade
E St Hill Davies (appointed 19 Juty 2023)
C C Thompson
G J Watts (resigned 21 August 2023)
Company registered
number
02290819
Charity reglstered
number
800074
Registered office
8 New Street
St Neots
Cambs
PE19 1AE
Company secretsry
J K Sinfield
Accountants
Streets Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Beds
MK44 3BZ
Bankers
Barclays 8ank PIC
41 High Street
St Neots
Cambs
PE19 1AS
Santander
Bridle R<)ad
Bootle
Merseyside
L30 4GB
Natwest Bank PIC
37 High St
st Neots
Cambs
PE19 1BP
Page 1

ST. NEOTS MUSEUM LIIAIITED
IA Company Llmlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS
(CONTINUED)
FOR THE YEAR ENDED 31 DECEIABER 2023
Cambridge & Counties Bank
Chamwood Court
5B New Walk
Leicester
LE16TE
Page 2

ST. NEOTS MUSEUM LIIAITED
(A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
The chaimian presents his statement for the year.
1. Objects of the Charity
The object5 of the charity are set out in the Articles of Association of St. Neots Museum Ltd and are 'to advance
the education of the public in conservation and the history of St. Neots. Cambridgeshire, and its immediate
environs by the proNllsion and maintenance of a Museum,. The Trustees reviewed the original Memorandum &
Articles of Association (from 1988) and fonnally adopted an updated version of it in June 2019.
2. A Look back at 2023
2023 has been a year of significant change and challenges for the museum ￿ryth year on year costs increasing
by 17% and organisationally both our curator (wtho has been wtth the museum for over 15 years) and our long
temi Chair of Trustees retiring from their roles although our retired Gurator continues to support the museum a5
a ne￿Y appointed memberto the Board of Trustees and as Chair of our Friends ofthe Museum.
Organisationally for the majority of 2023 the role of museum manager, scoped to take OTT operational
management of the museum and to carry out some of the duties of our previous curator, has been vacant.
Whilst the museum manager post has been unfilled the trustees approved a temporary restructuring of the
museum team. To the uedit of the museum staff, volunteers and trustees the museum delivered, during 2023,
a successful and varied schedule of workshops, events and leaming programmes, expanded our on-line
activitie5 whilst still maintaining our financial position despite a significant increase in operational non pay costs.
However, we were ￿qUired to delay our submission to the Arts Council to extend our ststus as an accredited
museum (who have agreed to defer our submission to May 2024) and also postponed our proposal to the
National Heritage Lottery Fund for fvnding to cary OLrt new programmes linked to expanding community
engagement and the development of the museums physical space.
The Museum had significant building issues, both structurally and with the limited layout and spaces available. A
lead trustee was assigned to take ownership for a programme of works and to cTrordinate ￿1th the Town
Council to ensure the Museums requirements are fully understood. This programme of work has successfully
ensured no worsening in the condition of the building and a full building survey, funded by the landlord, was
completed in 2023 identsty'ng and priorilising what structural work is ￿quIred. Plans for the redevelopment of
the Museum site are on hold awaiting completion of a feasibility study looking at opts'ons and obtaining relevant
costings for the structural V￿rk identified as required. The Trustees intention is to resurrect the project next year
to complete the feasibility review, audience engagement plans and obtain relevant cost estimate5 for building
work and then to seek grant funding to enable the comprehensive development ofthe Museum.
Further storage space for the Museums expanding collections has been acquired at a new extemal site and
additionally we have carried out the refurbishment and expansion of storage space within the main museum
building. The resulting space created has allowed for the provision of a designated office for the Museum staff
and the Court Room previously used on a temporary basis for workshops and for public hire has been made
permanently available for those purposes.
The Board of Trustees have developed a forward plan where we have set out our priorities for the period
2023-28. It concentrates on areas of change. identrfying where we want to be by 2028, and what tt will take to
get there. Our annual business plans sit within this overarching framework. wth each year coming into sharper
focus as it approaches. This framework is further supported by a number of polices and plans that cover
specific areas of activity. I know that the world will look different by 2028. and so V￿11 our museum,. but the plan
developed captures our aspirations now and provide5 a road map for our future.
Page 3

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
3. Key relationships with other oryanisations
(a) St. Neots Town Council
The premises occupied by the Museurn are leased (35 years from 2020) from the Town Council with
peppercom rent and an obligation on the landlord to maintsin the building in good condition, wth the Museum
responsible for its interior decoration.
The Council also provides a substantial contribution towards the Museum's Tunning costs. Without the ongoing
support of the Town Council, the Museurn Y￿uld have great difficulty in providing the services to meet its
obligations. Our yeady grant from St Neots Town Council was for £56,850 {a year on year increase of 26OA) and
our request to increase the grant for 2024 to £63.080 has been approved by the Council. The Trustees are
grateful to the Town Council, ¥thich is the principal financial supporter of the Museum, and the Trustees are
committed to ensuring all residents of St Neots continue to gain ac￿5$ to the Museum for free and that we
provide the events. exhibitions and activities which ensure the Museum is placed in the heart of the community
of St Neots and the surrounding villages.
b) The Friend5 of St. Neots Museum
The Friends are a separate and independent body dedicated to supporting the work of the Museum through
fundraising and advocacy in the local community. The Friends aim to ensure that the Museum can continue to
showcase the rich heritsge of the St Neots area, support the Museum'5 work with a V￿de variety of communty
groups induding schools and young people and champion the Stories of local people and places revealed
through the Museum's collections. During 2023, as well as the traditional events such as the Round Table Santa
Sleigh Run and the Christrnas Draw, a Cinema Matinee and Friends Open Day were held to increase the
visibility of the 'Friends' organisation wthin the community. The Trustees acknovledge the important role the
Friends play in the life of the Museum and the financial contribution that they make to it and recognise that the
support of the 'Friends' wll be even more important and vttal to aid any future redevelopment of the Museum.
c) St Neots Museum Volunteers
Thanks goes to the hard-v￿rkIng Volunteer5 keep the Museum shipshape and tidy and provide a warm
welcome to our visitors as well as carying out cataloguing and archival work. They bring a wde range of skills
and expertise, and their experience and enthusiasm helps SUPFJOrt work of the highest quality. A total of 47
unpaid volunteers are involved in supporting the museum donating 5,500 volunteer hours per year. The
Trustees are pleased to aCknO￿ledge that the willing partiapation of the Volunteers is a cruaal element in the
continued success of the Museum.
4. 2023 Activities and Programmes
4.1 Museum Activities and Events
2023 was a good year for St Neots Museum continued steady progress back to the busy and thriving
Museum we were in 2019 when vrfe won Best Small Museum in Cambridgeshire and before the Covid19
pandemic swept across the world. In 2023 we had approximately 9.600 visitor5 to the Museum. In addition. v
estimate about 1,000 visitors attended the Living History Festival and Marvellous Melodies events held over
separate days in September on the Market Square and many more people interaded V￿th the Museum through
our website and other outside events and activities. In the Temporary Exhibition Gallery we put on 3 exhibitions
by local artists and a very successful Marble Mania family event and the alYRys popular Winter Craft and Gift
Fair.
Page 4

ST. NEOTS MUSEUM LIMITED
(A Company Limitsd by Guarantee)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
During 2023 we provided 13 walks around St Neots town centre. inv(JMng over 130 people, and 25 talks to local
groups across the area reaching over 750 people. Essential to the Museum are the objects, photographs and
ephemera we collect as part of our core work preserwng the herita9e and culture of the area and our total
collection consists of 14,477 individual items.
Our social Tnedia p05t reach figures have risen from an average of 12 in March 2021 to 1,542 in March 2023
with an overall social media reach in March 2023 of 25,300. Marketing evaluation run on the reception desk
throughout 2023 showed that print media reached very few visitors. as a result the printed media marketing
budget is to be significantly reduced for 2024.
4.2 Leaming Programmes
The fonmal leaming programme saw 561 pupils frorn 8 local primary schools visit the Museum for local history
units led by the Leaming Officer induding small group visits from Samuel Pepys special education school and
Riverside MeadOV￿ Academy, a Social, Emotional and Mental Health (SEMH) specialist school.
Family informal leaming was supported by 20 days of family craft Workshops in the school holidays, free
Museum trails, toddler times, a twilight at the museum event and resources to support family Museum visits.
The summer w￿rkShopS were part of the University of Cambridge 'Summer with the Museums, programme
vthich supports regional Museums. Work was completed on the travelling Museum module wth the aim of
tsking object5 and ephemera out to the community. This was supported by The Rotary Club of St Neots and
Cambridgeshire County Council.
5. Financlal Positlon and The Charity's Reserves
The totsl unrestricted fijnds held by the Chartiable Company at year end a￿ £60,300. The Trust's reserves
policy is to have a minimum of £50,000 cash reserves on hand to cover the changes in cash flow during the
year and to cover any unforeseen issues. The reserves in our unrestricted account at the end of 2023 represent
about 7 months, worth of expenditure. Credrt is due to the Financial Team for its detsiled fund management and
regular reporbng to the Trustees which has enabled the Museum to stabilise our financial position against a
background of significant cost increases and organi5ational change.
One of our agreed strategic aims is to be more financialty resilient and grow our revenues ensuring the Museum
maintains SuffI￿ent cash reserves to underpin the long-term fvture of the Museum and broadens the scope of
Museums investments to achieve tis objectives. Our priorities in 2024 are to continue to widen the sources of
funding, develop innovative programmes to generate new income. maximise revenues through the utilisation of
the museums facilities and to seek investment opportunities outside of our existing support organisations.
In summary, the Board considers the overall financial perfomiance of the Trust to be satisfactory. We are
grateful to the whole staff and volunteer team contributed to the perfomiance and for all their effort and
passion.
6. The Future
The Board of Trustees in partnership with the museum staff has identified five strategic and investment priorities
that it will focus on delivering over the next five years. These are:
1. To engage, develop and inspire our communities ￿ryth the aim to develop the leaming potential of the
museurn and to wden access to the museums resources enabling more people to enjoy and leam about
local heritage.
Page 5

ST. NEOTS MUSEUM LIMITED
(A Company Llmlted by Guarantee)
CHAIRMAN'S STATEMENT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
2. To care, grow and increase access to our colleth'ons ensuring St Neots Museum is an important communty
asset through the preservation of the collections and the stories they tell with the Museum adopting good
profe55ional practice.
3. To redevelop and transfonn our infrastructure with the intention to transform the museum into a heritage.
leaming & cultural hub for the whole communty using its unique local collection.
4. To be more financialty resilient and grow our revenues ensuring the Museum maintains sufficient cash
reserves that underpin the long-temi future of the Museum. (We have developed a baseline five year
financial forecast to deliver a projected finanualty neutral position) and broaden the scope of Museurns
investrnents and extemal funding to achieve its aims.
5. Improve our govemance to safeguard the long temi future of our museum by ensuring we have clear
ownership and regular reviews of the projects we agree to implement.
Next year we do need to put the period of instabilty experienced in 2023 behind us. We are recruiting for a new
museum manager and we expect to have someone to be in place by the end of May and V￿ have also
appointed a part t'me museum assistant who joined the museum in 2023. These additional staff will provide u5
with the flexibility, expertise and succession planning we need to ensure the museum's organisational stability 15
in place.
In temis of events - we have an ouuine programme for next year focussed on local history (the focus in 2023
was putting together a number of exhibits'ons supporting local artists) ￿fjth free family activities in the spring and
summer school holidays. We y￿11 continue to support the major events sponsored by the tovm Gounril and local
organisations and ￿￿sh to continue to lead on the popular Living History festival and also develop a new event
fo¢ussed on the life and times of St Neot which be held around his feast day of the 31st of July. We are also
looking to expand the leaming programme for schools and our support of dementia groups in the area.
We have agreed a programme of key projects to deliver during 2024 (and beyond) and l am grateful to my
fellow Trustees for their continued help and support through vthat is a very ambitious programme in temis of
what we have set oirt to achieve.
M Fletcher
Chaimian
Date: I7171x
Page 6

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together y￿th the financial statements of the Museum for the year from
year 1 January 2023 to 31 December 2023. The Annual Report 5erve5 the purposes of both a Tru5tees' report
and a directors, report under company law. The Trustees confirm that the Annual Report and financial
statements of the charitable company comply vAth the current statutory requirements, the requirements of the
charitable company's goveming document and the provision5 of Ihe Statement of Recommended Practice
(SORPI applicable to charities preparing their accounts in accordance %Mth the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Museum qualifies as small under section 382 of the Companies Act 2006. the Strategic Report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objeGt set out in the Memorandum and Article5 of a5sociats.on is to advanGe the education of the public in
conservation and the history of St Neots. Cambridgeshire and its immediate environ5 by the provision and
maintenance of a museum.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit induding the guidance 'Public benefit.- running a
charity (PB2)'.
b. Main activities undertaken to further the Museum's purposes for the public benefit
The chartty provides opportunities for artrfacts to be preserved and displayed for the benefit of the local
community.
The Museum is open to the general public for general vie%*ryng of static displays or participation in specialist
events and workshops. Local residents can visit the Museum free of charge. v￿th donations in lieu of entrance
fees being requested for other visltors.
Schoo15 and community groups are able to Vi51t the Museum as part of their educational activities and they also
have access to boxes of artifacts on a range of topics. which enable a hands-on approach to leaming.
Achievements and perfomiance
. Main achievements of the Museum
The review of the Museum's actsvitie5 and Perfo￿nanCe is given in the Chaimian's Report.
Page 7

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarants8)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DEGEMBER 2023
Financial review
. Going concern
The charity continues to receive an annual grant trom St Neots Town Council and also has a good level of
general reserves to support the day to day activitie5.
After maknng appropriate enquiries, the Trustees have a reasonable expectation that the Museum has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concem basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policie5.
b. Reseryes policy
The Trustees seek to maintain sufficient unrestri¢ted reserves to cover nine months running costs, excluding
depreciation, wth the desired level of general funds estimated at £50,000 {2022 £70,000). The trustees, have
used some of the resetve5 during the year and, at 31 December 2023, the general reserve amounted to
£60,300 (2022 £65,694).
The Trustees consider that the museum's assets are suffiaent to meet its obligations and the level of
unrestricted funds is adequate to cover the day to day requirements of the museum for the forthcoming year.
. Overview
The museum has reported an overall deficit of £4,377 (2022 deficit of £13.529) for the year, but continues to
prepare detailed budgets to approve and montior spending. The employment and general running costs
continue to be covered by the grant from St Neots Town Council.
Structure, governance and management
a. Constitution
St. Neot5 Museum Limited is registered as a charitable company limited by guarantee (company registration
number 02290819. charity number 800074) and set up by a Memorandum of Association on 30 August
1988. The Articles of Association were updated on 27 June 2019.
b. Methods of appointment or election of Trustees
The management of the Museum is the respon￿bIlIty of the Trustees who are elected and co-opted under the
terms ofthe Memorandum of Associats'on.
. Oryanisational structure and decision-making policies
The directors who served the charity during the year are set out on page 1. The directors are also the trustees
for the purposes of charity law. Day to day responsibility for the wnning of the Museum 15 undertaken by the
trustees and senior paid staff.
Page 8

ST. NEOTS MUSEUM LIMITED
IA Company Llmlted by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management (contlnued)
d. Pay policy for key management personnel
The charity sets rates of pay vthich are commensurate ￿ryth the roles and responsibilities of each staff member
Details of the remuneration paid to key management personnel are given in note 11.
e. Related party relationships
In addition to the groups listed in the Chaimian's Report, the charity's trLlStees are also, individually, involved in
a number of other businesses and organisations, but there are not any related party transactions requiring
disclosure in the accounts.
f. Financial risk management
The Trustee5 have assessed the major risks to which the Museum is exposed, in particular those related to the
operations and finances of the Museum, and are satisfied that systems and procedures are in place to mitigate
our exposure to the major risks wherever possible.
Plans for future periods
As set out in the Chairman's Report, the trustees continue to look at different ways to enhance the Museum and
to seek to ensure the charity has appropriate management and resources to continue for the foreseeable fijture.
Member5. liability
The Mernbers of the Museurn guarantee to contribute an amount not exceeding £1 to the assets of the Museum
in the event ofwnding up.
Statement of Trustees. responsibilities
The Trustees (who are also the directors of the Museum for the purposes of company law) are responsible for
preparing the Trustees, Report and the financial statements in accordance ￿fjth applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial ststements for each financial year. Under company
law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the Museum and of its incoming resources and application of resources.
including its income and expenditure. for that period. In preparing these finanaal statements, the Trustees are
required to=
select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP IFRS 102):
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Museum will continue in business.
Page 9

ST. NEOTS MUSEUM UMITED
(A Company Limited by Guarantse)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees, responsibilities ICONTINUED}
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Museum's transactions and disdose with reasonable accuracy at any time the financial position of the
Museum and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Museum and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Fletcher
Chairman
Date: l? 11)t
Page 10

ST. ￿oTs fAusEUM LIMITeD
(A Company Llnfft•d ty Guarnnle•l
INPEPENDEtir EXAhllNEifs REPORT
FOR THE YEAR ENOED 31 DECEMBER 2023
Independont Examln•rfs Report ¢0 th? Trustee8 of St. N•oi6 PthJ¥oum Llrnltod (Ih• Museum.
Wa report to the charity Tnlslees on gxanNnalton ol Ihe accou￿ts of the Museum for Ihe yaar ended 31
December 2023.
R￿ponsIbl1￿1eS and 8asi¥ of Report
As the TTustees ol the Museum (and rts directors for 1178 purpos8s of comgany I￿} yau are responsible lor the
prepoFalion of the accounls In acwd8nc4 wtth the ftyuirements of the Companias Act 2006 I'the 2006 Acl.).
Havlng satlsfied ou￿elveS that the accounts d the Museum are not requlred to be audiled und8r Part 16 of the
2006 Acl and arp eliglble for independenl gx8minal¥on. bye report In respect of our examinatM of the Museum's
accounls carried out under section 145 of the Charities Ad 2011 ('Ih8 2011 Acf). In carrying out our
examination we have fdlowed Ihe Direc￿n3 given by the Chanty Commtsskm under secfion 145(5)(b) of the
2011 ACL
Inde￿ndent Ex•mlngVs Statement
We have compleled our examination. We conf¥m Ihat no motlefs have to our attentK)n in conne(Ilon with
the exarninalion glvlr9 us cause to b￿e¥e.
accounthng Tecords y￿e not kepl In respect of Museum as wequ[￿d by seth'on 386 of the 2008 Acl., or
the acrnunls do not att4)rd wlth those wecords: or
the at￿Unts do not cornpty wilh Ihe ac%>JuntSng requirements of section 396 of the 2006 Act other than
any requirernenl Ihal the ac¢ounls giva a Iru• and falft viw is not a matter considered as port of
an independent examination: or
the accounts have not been plepar￿1 In accordance wilh Ihe ffleth￿s and prin0￿eS of the Slatemenl of
Recommended fvaCt￿ for accounting and rnPDrting ty tharities l*icable to charities preparing their
accounts In accordan￿ with Ihe Ffflaftcsal ReportirrfJ Standanl applicabje in the UK and Repubhc of
Ireland IFRS 102)].
We have no ￿ncernS and have come across no olher matters In connection with the examln81Jon to which
attantion should be dfawn in Ihis repart in order tD enabl8 a w¢per understsnding of ihe accounlg to b8
reached.
This rvport 15 made solely to the Museum'5 Tntstha5. 05 a bryjy. In aGcoidatKv ￿Ul P¥ii 4 vl Ihu CliarlilE>>
(Accounts and Reporls) Regutalrons 2008 Our vK>tk has been undertaken so that we might sla:e lo the
Museum's Trustees those matters we are required lo slale lo thwn In an Indeper￿ent Exarninerfs Report and
far nD Other purpose. To the fullest exlent pemirtied by law, we do not accept Qr assume respongbility to
arbyone ¢Jther than th8 Museum and the Museum's TrnS1￿ as a body. lor our Wofk or for this report
Sigr￿d.
Linda J L￿d
Dated.. 1 202LL
8Sc. BFP. FC& TEP
Stre•ts Charter•d Accountants
Potton House, W￿5t01b Lakes. Great North Road. Wyb051on. Bedford 3BZ
Pag8 11

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Restrictsd
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
Other trading actiwties
Investments
9,153
77,848
22,906
1.723
9,153
79,848
22,906
1,723
13,464
61,591
15,676
283
2.000
Total income
111.630
2,000
113,630
91,014
Expenditure on:
Raising funds
Charitable activities
14.830
101.064
14,830
103,177
8,578
95,965
2.113
Total expenditure
115,894
2.113
118,007
104,543
Net expenditur8
Transfers between funds
(4,264)
14,377)
(13,529)
18
1.130
Net movement In funds
15,394)
1,017
{4,377)
(13,529)
Reconciliation of funds:
Total funds brought forward
Net movement in funds
65.694
<5,394)
28,105
1,017
93.799
(4,377)
107,328
(13.529)
Total funds carried forward
60,300
29,122
89,422
93, 799
The Statement of Finanoal Activities indudes all gains and losses recognised in the year.
The notes on pages 15 to 30 fomi part of these financial statements.
Page 12

ST. NEOTS MUSEUM UMITED
IA Company Limited by Guarantee)
REGISTERED NUMBER: 02290819
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible asset5
Heritage assets
13
4.783
22.747
3. 766
22, 747
14
27.530
26,513
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
8,382
6,009
56,594
8,718
3,692
63, 792
70.985
76,202
Creditors: amounts falling due within one
year
17
(9,093)
(8,916)
Net current assets
61.892
67,286
Total net assets
89,422
93, 799
Page 13

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 02290819
BALANCE SHEET (CONTINUED
AS AT 31 DECEMBER 2023
2023
2022
Note
Charity funds
Restricted funds
18
29,122
60,300
28. 105
65,694
Unrestricted funds
18
Totsl funds
89,422
93, 799
The Museum was entiued to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies AGt 2006.
The Trustee5 acknowledge their responsibilibes for complying wrth the requirements of the Act v￿th respect to
accounting record5 and preparation of financial statements.
The financial ststements have been prepared in accordance with the proNision5 applicable to entities subject to
the small companies regime.
The financial statements V￿re approved and auth0ri5ed for issue by the Trustees and signed on their behalf by:
Fletcher
Chairman
Date.. Ai li ITr
The notes on pages 15 to 30 fomi part of these financial statements.
Page 14

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General infomiation
The chantsble company is a company limited by guarantee, registered in England and Wales. The
address of the ￿gIStered office is 8 New Street, st Neots, Carnbridgeshire. PE19 1AE.
The accounts have been prepared in sterling. This is the functional Currency of the entity.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance V4ith the Charities SORP IFRS 102) -
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance ￿fjth the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2015). the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
St. Neots Museum Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical c05t or transaction value unless othewse stated in the
relevant accounting policy.
2.2 Going concem
The trustees have a reasonable expectation that the museum has adequate resources to continue in
operational existence for the foreseeable future. For this rea50n they Gontinue to adopt the going
concem basis in preparing the financial statements.
2.3 Fund accounting
General funds are unrestricted funds vthich are availaL4e for use at the discretion of the Trustees in
furtherance of the general objectives of the Museum and which have not been designated for other
purposes.
Restricted funds are funds whith are to be used in accordance with speofic restriction5 imposed by
donors or ￿lch have been raised by the Museum for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
2A Income
All income is recognised once the Museum has entitlement to the income, it is probable that the
income wll be received and the arnount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and induded in creditors as deferred income. Where entitlement occurs
before income 15 received, the income is accrued.
Income tsx recoverable in relation to donations received under Gift Aid is recognised at the time of
the donation.
Page 15

ST. NEOTS MUSEUM UMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits wll be required in
settlement and the amount of the obligation can be measured reliably.
Expenditure on raising funds indudes all expenditure incurred by the Museum to raise funds for its
charitable purposes and includes costs of all fundraising acb-vities events and non-charitable trading.
Expenditure on charitable actimts'es is incurred on directy undertaking the activities which further the
Museum's objectives, as well as any associated support costs.
All expenditLJre is inclusive of irrecoverable VAT.
2.6 Government grants
Govemment grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of Financial Artivities over the expected usefvl lives of the assets concemed. Other
grants are credited to the Statement of Financial Actimties on an ac¢wals basis.
2.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Museum- this is nomially upon nots-fication of the interest paid or payable by the
instituts'on with whom the funds are deposited.
2.8 Taxation
The Museum is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definitson of a charitable company for UK corporation tax purposes.
Accordingly, the Museum is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable Purposes.
2.9 Tangible fixed assets and depreciation
Tangible fixed assets are inttially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs inCu￿ed to bring a tangible fixed asset into its intended working
condition should be induded in the measurement of cost
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the followng basis=
Fixtures. fitknngs, tools and
equipment
15% per annum reduring balance or 33.33%
straight line
Page 16

ST. NEOTS MUSEUM UMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcies Icontinued)
2.10 Herftsge assets
The charity holds a number of historic assets, many of which have been donated to the Museum.
There is no reliable cost infonnation or valuation of the majority of the MuseuTn's collections, which
consist of items relating to St Neots and District from prehistoric times to the 1940's. The benefits of
obtaining a valuation do not Justify the cost and, as a consequence, such assets are not included in
the financial statements.
Heritage assets, ￿thich are tangible fixed assets of historical. artistic or scientific importance that are
held to advance preservation and conservation objectives of the charity. Newly purchased heritage
assets are capitslised and included at cost induding any incidental expense5 of acquisition.
The very long expeGted lives of heritsge assets. due lo their nature, value and need to be protected
and preserved means that deprecialion is not material and is, therefore, not provided.
2.11 stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost indudes all direct Costs and an appropriate proportion of
fixed and variable overheads.
2.12 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.13 Cash at bank and In hand
Cash at bank and in hand indudes cash and short4emi highly liquid investments with a short
maturity of three months or less from the date of acquisib-on or opening of the deposit or similar
account.
2.14 Liabilities and provisions
Liabilities are recognised vthen there is an obligation at the Balan￿ Sheet date as a result of a past
event, it is probable that a transfer of economic benefit wll be required in settlement, and the
amount of the settlement can be estimated reliably.
2.15 Financial instruments
The Museum only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are inibally recognised at transaction value and
subsequently measured at their 5etUement value the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.16 Operating leases
Rentals paid under operating leases are Charged to the Statement of Finanrial Activities on a
straight line basis over the lease tenn.
Page 17

ST. NEOTS MUSEUM UMITED
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continuedl
2.17 Pensions
The Museum operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the Museum to the fund in respect of the year.
Income from donations and legacies
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
Donations- General
Donations- Friends of St Neot5 Museum
Use of Old Court Room
3,967
3,436
1.750
3,967
3,436
1,750
3,358
4,928
1,178
9,153
9,153
9,464
Government grants
4,000
9,153
9,153
13,464
Total 2022
13,464
13,464
Page18

ST. NEOTS MUSEUM LIMITEO
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from charitable activities
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
runds
2022
Grant from St Neots Town Council
Grants for specific projects
Donations in lieu of entrance fees
Commission on sale of photographs and craft
fair
Photographs supplied and miscellaneous
income
Income from workshops and events
63.200
63,200
2,000
2,466
45, 000
3, 805
1,981
2,000
2.466
2.677
2,677
2,155
148
9,357
148
9,357
199
8,451
Total 2023
77,848
2,000
79.848
61,591
Total 2022
61,291
300
61,591
Income from other trading activities
Income fmm fundraising events
Unrestricted
funds
2023
Total
fvnds
2023
Total
funds
2022
Shop income
Escape room income
11,673
11,233
11,673
11,233
12,668
3,008
22,906
22,906
15,676
Total 2022
15.676
15,676
Page 19

ST. NEOTS MUSEUM UMITED
(A Company Llmlted by Guarnntse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment income
Unrestricted
funds
2023
Total
funds
2023
Total
fvnds
2022
Interest received
1,723
1,723
283
Total 2022
283
283
Expenditure on raising funds
Costs of raising voluntary inc¢Jme
Unrestrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Goods for resale (adjusted by stock)
Escape room costs
7.315
7,515
7,315
7,515
6, 738
1,840
14,830
14,830
8.578
Total 2022
8,578
8,578
Page 20

ST. NEOTS MUSEUM LIMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expendlture on charitable activilies
Summary by fund type
Unrestricted Restricted
funds
funds
2023
2023
Total
2023
Total
2022
St Neots Museum
101.064
2.113
103,177
95,965
Total 2022
94.603
1,362
95, 965
Summary by expendlture type
Staff costs Depreciation Other costs
2023
2023
2023
Total
2023
Total
2022
St Neots Museum
61.116
1,613
40,448
103,177
95,965
Totsl 2022
62, 560
1,044
32,361
95,965
Page 21

ST. NEOTS MUSEUM UMITED
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Total
funds
2022
st Neots Museum
91.582
11.595
103,177
95,965
Total 2022
85,218
10,747
95,965
Analysis of direct costs
Total
funds
2023
Total
funds
2022
Staff costs
Depreciation
Rent
61,116
1,613
1,040
709
62,560
1,044
1.040
1,177
3,649
1.996
1,058
1,028
578
1.918
2.975
6, 195
Rates and Y￿ter
Light and heat
Insurance
Repair5 and maintenance
Security System
Conservation
3,620
2,242
2,122
309
1,868
6,877
8,918
Displays and exhibitions
Events
Legal and professional fees
91.582
85,218
Page 22

ST. NEOTS MUSEUM LIMITED
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by aclivilies (Continued)
Analysis of support costs
Total
funds
2023
Total
funds
2022
Telephone
Postage. stationery and photocopier
Publiaty and advertising. including website Gosts
Travelling and training costs
Sundry expenses
G0Veman￿ costs
326
297
418
7.359
466
6.139
14
2.208
2.442
625
2,048
11,595
10,747
10. Independent examlneVs remuneration
The independent examinerfs remuneration amounts to an independent examiner fee of £1,800 (2022
- £1,600). and payroll and secretsrial services of £541 (2022- £541).
11. Staff costs
2023
2022
Wages and salaries
Contribution to defined contribution pension schemes
59,749
1,367
60,958
1,602
61,116
62,560
The average number of persons employed by the Museum during the year was as follows".
2023
2022
Museum Staff
Museum staff
Page 23

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Staff costs Icontinued)
No employee received remuneration amounting to more than £60,000 in either year.
The staff costs represent the total payroll costs (gross pay, employer's national insurance and pension
contributions) of the curatorldirector, museum assistant, education and leaming officer and cleaner.
The key management personnel of the chartty comprise the trustees and the curatorldirector. None ofthe
trustees receive any remuneration. The total remuneration (including employer pension contrbbutions) for
their services to the charity amounted to £21,268 (2022 £27,492).
12. Trustees. remuneration and expenses
During the year, no Trustees received any remuneratton or other benefits (2022 - £NIL).
During the year ended 31 December 2023. no Trustee expenses have been incurred (2022 - £NIL).
13. Tangible fixed assets
FIxtu￿5 and
fittings
C05t or valuation
At 1 January 2023
Additions
95,437
2,630
At 31 December 2023
98,067
Depreciation
At 1 January 2023
Charge for the year
91,671
1,613
At 31 December 2023
93.284
Net book value
At 31 December 2023
4,783
At 31 December 2022
3. 766
Page 24

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Heritage assets
Assets recognised at cost
Kimbolton
Hoard
2023
Carrwng value at 1 January and 31 December 2023
22,747
22.747
15. Stocks
2023
2022
Finished goods and goods for resale
8,382
8,718
16.
Debtors
2023
2022
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
50
3.778
2,231
1,847
1. 795
6,009
3, 692
17. Creditors". Amounts falling due within one year
2023
2022
Accruals and deferred income
9.093
8,916
Page 25

ST. NEOTS MUSEUM LIMITED
(A Company Llmlted by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Statement of funds
Statement of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Transfers
inlout
Income Expenditure
Unrestricted funds
General Funds
65.694
111.630
(115,894)
(1.130)
60.300
Restricted funds
Propety Conversion and
Equipment Fund
Hentage Assets (primarily
Kimbolton Hoard)
Rotary Project
Cambs County Council
Goodliff
Mrs A Wills Legacy
3.766
(1.613)
2,630
4,783
22.747
22,747
500
(500)
1.500
(1,500)
624
968
624
968
28,105
2,000
(2,113)
1,130
29,122
Total of funds
93,799
113,630
1118,007)
89,422
Page 26

ST. NEOTS MUSEUM LIMITED
(A Company Llmlted by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Statement of funds (continued)
Statement of funds - prior year
Balance at
31
De￿rnber
2022
Balance at
1 January
2022
Transfe
in/out
Income Expenditure
Unrestricted funds
General Funds
79. 595
90,714
(103.181)
(1,434)
65,694
Restrlcted funds
Propety Conversion and
Equipment Fund
Heritage Assets (primarily
Kimbolton Hoard)
Rotary Project
Cambs County Council
Goodlny
Mrs A Wills Legacy
Rotary Club of St Neots
3, 076
(1,044)
1,734
3. 766
22,747
117
22.747
(117)
300
(300)
624
624
968
968
201
(201)
27, 733
300
(1,362)
1,434
28, 105
Total of funds
107.328
91.014
(104, 543)
93, 799
Page 27

ST. NEOTS MUSEUM LIMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Statement of funds (continued)
Property Conversion and Equipment Fund
The Property Conversion and Equipment Fund represents the net book value of assets held by St Neots
Museum Limited at the balance sheet date. The fund is reduced by depreciation and amortisation over
the life of the assets and transfers represent additional assets purchased in the year.
Heritage Assets
In 2012 the Museum received grants to enable it to purchase the contents of the Kimbolton Hoard, a
collection of Iron Age gold and silver coins costing £22,232. In 2018, the charity also purchased
additional medieval artefacts costs'ng £515. The restricted fund representing the cost of the heritage
assets acquired and the fund V4ill be maintained at this value while the assets are owned by the
Museum.
Rotary project
During the year the museum received two donations of £200 and £300 for the purchase of Santa's
Christmas gifts for the 'Meet the Tudors. event. Both grants were fully utilised in the year.
Cambs County Council
The Museum received a contribution of £1,500 towards the cost of new racking and chairs for the
Museum. The cost of the equipment has been capitalised as an improvement to the charity's assets and
the £1,500 transferred to the Property Conversion and Equipment Fund.
Goodlrff
In 2020 the Museum received £800 towards producing a booklet for St Neots in World War 2 and to
purchase oral recoding equipment. £176 was used in previous years. leaving £624 carried fo￿ard.
Mrs A Wills Legacy
In 2021, the Museum received a legacy of £968 from Mrs A Wills to go tOv￿rdS the presetvation and
presentation of a collection of items donated by Mrs Wills.
19. Summary of funds
Summary of fvnds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Transfers
injout
Income Expenditure
General funds
Restricted funds
65.694
28.105
111.630
2.000
(115.894)
{2.113)
(1.130)
1.130
60,300
29,122
93.799
113,630
(118.007)
89.422
Page 28

ST. NEOTS MUSEUM LIMITED
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. Summary of funds (continued)
Summary of funds - prioryear
Balance at
31
December
2022
Balan￿ at
1 January
2022
Transfers
in/out
Incon￿ Expenditure
General funds
79,595
27. 733
90, 714
(103, 181)
(1,362)
(1.434)
1,434
65, 694
28, 105
Restricted fund5
107,328
91,014
(104.543)
93, 799
20. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restrictsd
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Heritage assets
Current assets
Creditor5 due within one year
4,783
22,747
41,863
(9,093)
4.783
22.747
70,985
(9,093)
29,122
Total
60.300
29.122
89,422
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Tangible fixed assets
Heritage assets
Current assets
Creditors due ￿1th1n one year
3, 766
22.747
1,592
3, 766
22,747
76,202
(8.916)
74,610
(8,916)
Total
65, 694
28. 105
93, 799
Page 29

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
21. Members. liability
The Museum is a company limited by guarantee. Each member of the charitable company undertakes to
contribute to the assets of the company in the event of it being wound up Nthile helshe is a member, or
thin one year after helshe ceases to be a member, such amount as may be required. not exceeding £1
for the debts and liabilities contracted before helshe ceases to be a member.
22.
Related party transactions
The Museum has not entered into any related patty transaction during the year, nor are there any
outstanding balances owbng between related parties and the Museurn at 31 December 2023.
Page 30