Registered number: 02302281
Charity numbar: 803675
MILTON KEYNES MUSEUM TRUST LIMITED
{A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

MILTON KEINES MUSEUM TRIIST LwrrED
{A company limited by guarantse)
CONTENTS
Page
Roference and admlnlstralive details of the Charity. its Trustees and advlseT5
Trusteès. rgport
Independent auditorfs report on the financlal st*Thnts
10~13
14
Balanca sheet
15-16
17-30

MILTON KEYNES MUSEUM TRUST LIMITED
IA Company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
G Hawking. Chair
J Beckerleg. Treasurer
A Harris {appointed 28 April 20211
EP Grfford
JS Hilton (resigned 28 Apnl 2021)
DG Hopkins
DN Loudon
D Millis
JE Palmer
M Petchey {resigned 10 May 2021. appointed 27 October 2021)
R Sumner
J Walker (resigned 17 May 2021)
S Patel (appointed 26 January 2022)
KE Savage {aprN)inted 26 January 20221
Company registered
number
02302281
Charity registered
number
803675
Registered office
Mcconnell Drive
Wdverton
Milton Keynes
MK12 SEL
Company secretary
A Harris
Independent audltor
MHA Maclntyre Hudson
Chartered Accountants
Statutory Auditors
Millon Keynes
Page 1

MILTON KEYNES MUSEUM TRUST uMrrED
(A Gompany Ilmited by guarnntee)
TRusfEES' REPORT
FOR THE YEAR ENDED 31 IAARCH 2022
The Trustees present their annual reFrtyt together with the audi￿ financial statements of Ihe Mimon Keyn8S
Museum Tnjst Ltmited for the ￿l(￿j 1 Aprll 2021 to 31 Mar(* 2022. The Annual retK)rt serves the purposes of
both a Tnjstees. report arKI a directors. retKKt urmler <x¥npany law. The Trustees (x)￿fir￿ that the Annual report
and financial statements of the charilabl8 (x)mpany (xxnkty vrith the current statut(wy requirements, the
requirements of the charTtable (x)mpan￿S govemiThJ dcojment and the pn)V1Sbc￿ of the Slatement of
Recommended Practice ISORPI applicable to charilies prepwiw their accounts in accordance vth the Financial
Re￿lIng sta￿lard applifzble in the UK RewlJt of IrelwKi (FRS102) leffeclive 1 January 2019).
Since the Charity qualif￿ as small WKJer s&thn 382 of the C(xnpanres A¢t 2(Th, ts Strategic rewt required
of medium arKI large cornpan￿ c(￿pan￿ Act 2C￿ (Strategic Reixyt and Directors. Report}
Regulations 2013 has been LKnitted.
Objgctlves and aclivitRs
a. Policies and objectives
The Museum is an Arts c￿nCl EThJland ax￿lIted se￿￿81 hISt￿Y rnuseurn for Milton Keynes and the
gurrounding area. The prime iknjeclive ts to prov¥Je a ful rnrrfje of Muwjm services for the pwle of Milton
Keynes wtth the Museum t*irwJ open througtr￿￿ the JEar. It holds a pr(KJramme of special events as well as
additsonal actfvibes during the halF-term holKlay5. The Museum works wlh Milton Keynes Council and other
member5 of the Heritage MK Cortsortium. to prrynote and wotect the area's heritage and culture. The Chadty
Trustees have pakl due regaftl to guidanL* by the Charity Crwnmission in deuding what aCtivi￿e$ the
Charity shO￿d undertake.
In setting oty'ectives and planning for xbwtses. the Trustees have given (kn8 cortsideration to general guidance
published by the Charity CIMybMtr￿I￿ r￿8￿ to public benefi( iNaudiThJ the guidaTh* 'Public benefit funning a
charity IPB2)'.
b. Main aclivltles undertak8n to furtlw thg Ch¥itys for thg publlc ben
The Trustees continue to keep in mind the Charily COmm￿￿'S ￿ldan￿ on public benefil and look to
incre8se the education b8naffts, ujrrenty exiendod to $ch￿lS and the general pubjic, and wovKfje ¢Jutlets for
leaming through volunteering. plus the beneffts as￿￿lated wilh vrjunteering in general.

MILTON KEYNES MUSEUM TRUST LIMITED
(A company limtted by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Achievements and perfornmnce
. Main achievements of the Charity
The Covid-19 pandemic has had an enomious impact on the entire herrtage sector. leading to one of the most
challenging periods in Milton Keynes Museum's history. The loss of visitor income and volunteer engagement
h8s had a major impact on the Museum's strategy and business model and has delapj Ihe ambibous plans for
the Museum's expansKsn.
The Museum ended the 2021122 financial year vthh vtsrtor figures of 21,866 which is around 40¥0 of pre-covid
levels. As a result, the income derived from wsilors Was signtficanuy down on a 'normal' operating year. Visitors
are however making a cautious retum. and once Ihey are through the door they have a fantastic time. Feedback
is overwhelmingly positive". people are glaj to be back, and many are enjoying ihe Museum for the first time and
promise to come back.
Such a great placel The room sets are amazing. the volunteers are very knowledgeable. and it is a very
handwin place. The granary tea room is also amazingg With homemade cakes which were delicious. The
admission price covets a whole year so you can go as often as you lik¢ Great day for all ages (children
loved the toysl)- Trip advisor review January 2022
Navigating the ¢hallenge
To navigate this thallenge the Director and Trustees stopr£d all but essential spending, ￿st￿IctUTed the staff
team arKI applied for emergency funding. Unfortunately, administralion staff were identrfied as being at risk
and wer8 subsequenlly made redundant. HM Government Coronavirus Job Retention Scheme ICJRSI allowed
Ihe Museum lo retain staff and offset staff costs. This provKled a lrfeline to cover the remaining salary costs that
would usually be supported by ￿rat1(Ala1 income.
Successful applications were made to the Culture Recovery Fund. delivered by Arts Council England using funds
provided by the Department for Digital. Culture. Media and Sport. The Museum is incredibly grateful for this
support and for the support of MK Council vtho, in aydib.on to the nomial financial support, provided Covid
emer9ency related grants.
Page 3

MILTON KEYNES MUSEUIA TRUST UMrrED
(A company Ilmlted by guarantee)
TRUSTEES. REPOIU (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Museum Improvements
Thanks in part to the SUpl￿ from the Cthre ReLW Fund and the gwcsity of volunteer tlme the Museum
has made a nurnter of enhancements to the site duriNJ the ￿ar. In 2021r22 the volunteers and staff achieved a
great deal. This included:
Relticaliro the Wi¢torian SclKd Room to sdhx4 gr(MJps to take part in interxtive ￿￿￿shopS v￿thoUt
imp8th.ng on the safe movement of visiiors around the MuseLMn.
New 1nterwetatl￿ lo enharte the visttrK volutteers are rK)t atAe to Interpret the story
A new exhibibon eXpl￿1r￿j the Wc4vert(m Estate. its iwiks tr) Dr Jrthn Rad(*ffe and the use of the farmlarvj
before the creation of m(MJem Miltm Ke￿r￿.
Opening the Story of Chiklhoc#J, an exhibitsc￿ of toy5 frryn Ihe to the present day- visttor5 are
invited to contrit4Jte their own ty and S￿e$ to the Museum.
Installation of a Nature Centre to enhance the use of the IAuseum's nath trail and grounds.
Replaciro the old schodroom with the Servants. R<y)m. its orhJinal fvnction in th8 Victorian Famihouse,
with interactive exlubils deM£¥￿Ir81IThJ tha on the fami to cl8an. preserve focKI. provKJe IwJhting and
run the houSe￿Ad.
Installat￿ of Ihe ba￿lSta￿l that kn originally ky2ted at Willen Lake dumg the earfy days of Milton
KeyTE% and was presented to the Muwjm by the Parks Trust in 2019. tt will be a focal point for the events and
leaming prcordmme.
Volunteerlng
Volunteers are at lh8 ￿ntre of the Museum's ormtirm g￿rI￿￿ty gMrvJ their time as r(￿)rn guides, serving Rl
the shop and tea rcN)ms, caring ts the col1ectK￿. (KganisiNJ ev￿ts. delivering leaming wixkshops 8nd
undertaking building and rnaintenance pr(4ecls. The Trustees are YKxediW gratefvl to all of fAJr volunteers who
help create such a untque experien{* for visitots.
During the year the T￿￿t apw)inted a Vdunleer Rajuriment arKI Support Orr￿ vtho has made excellent
ogress to buikl the team fotkAMng knkdtr*m. A total of 65 vdunteer5 (ind￿1r￿j Duke of Edinburgh
volunteers and Work ExPerier￿ sludents) have ￿ned up to volunteers across all Arwking areas
bringing the team up to 26g.
Work is IMgoirYJ to estsblish links with k)rA ujmmunty grouF6 and organisations to promote volunteering aTh
the team have been SUPFMYted with an enhanL￿j training aNI i￿luCI10n pro3fdmme which has includgd
Demenlia Friendly trainiTr3 and First Aid.
Learning Pn)gramme
1534 pupils from 37 engaged *ith the MuseJJm duiiro the ￿ar. To ertsure ts safety of students and
volunteers. workshop capacity Yras limited to 35 rather than 60 and Ihe number d sbjdents recorded reflects
this. Seff-guided sessions were intrO(k￿￿ to mitswe a stKKta3e of vc4urrteer education guid8s and these have
prov&1 popular.
The team are developing deeFW relalicffiships ￿1th ￿￿1 for eXarn￿ GemiaThJer Parf( regularfy bring
groups to our school workslw to 18am about the WIL*orians. Our strategic partners Arts and Heritage Alliance
MK had also been vuknng viti the ConnitNJrr(M oxnmunty (where the is based) to build new genuine
relationships belween the arts arKJ heritage s￿l0r aTrJ new (xxnrnunities. Subsequently the Museum developed
outreach activiknes and 75 thiidren four groups at e￿ander Patk Schc¥J V•Ere able to interact wth
Page 4

MILTON KEYNES MUSEUM TRUST UMITED
IA company limiled by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
A¢hievements and perforniance {continued)
In the Spring. a schwl group arrived and one siudent was not participating in the workshops. Our Education
Officer identified language as the barytet to engagement for the little gid whose family had come lo Milton Keynes
from Afghanistan as a refvgee. She was able to communicate with the student in Urdu and she smiled for the
first lime and then took a full part in the Ses￿On. These experiences have led to exploratory conversations with
local organisalions who supwjrt refugees and infftuenced our communty outreath programme.
Collections
Up to the end of March 2022 the team accessioned 171 ilems. ￿tsIc￿j￿ed 9.501 objects and disposed of 1,739
others. 49 conservation treatments were carried out and 3.260 volunteer hours were spent on collections care.
Recent improvement to the storage facilities al the Mkjseum include creating a conservation Spa￿ in the New
Store along with the acquisition of an x-ray machine arKI access to WFFI across all the stores.
By the end of March 2022. the entire MK Council owned art (xAleckn {280 items) had been transferred lo the
museum and 80°A of the archaeology 171,997 objects. 2400 tM)xes). Extensrve work has been done to
conserve. catslogue and repack the archaeolcwJy (x)Ilecb"on and to prepare items for dIs￿aY in the Ancient MK
gallery. Work to review and catalogue the archival mateiial has continued. The Social History collection
continues to devel(p, wtth a focus on items for the Story of Childh(Krfl exhibitic￿.
A podcast has created and ￿ght episodes have been reteased and three on-line exhibityons created. An
external conservation project has been undertaken and suptth has been prowded to the wider heritage
community of Mi￿1)￿ Keynes.
Temporary Exhibitions
The Museum hosted a number of fantsstic lemFK)rary exhibtbons in the new galleries since re-opening in May
2021. Wired for Sound explored the i(xinic music scene in Milton Keynes while Women in Sport celebrated Milton
Keynes, City of Sport status in 2020 and We are MK T(x)I slM)wcased the creative work of people in Milton
Keynes durtng lockdown.
In October, Phoenix Rising MK. la community group supporting adults disabilities and learning support
needs) presentéd upri￿ng Three." From Lockdown to Fr8edom a vibr8nt èxhibthon of paintings. photographs,
mosaics and fashion designs created during the pandem￿.
Each exhibition attracted new audiences to ￿ Museurn and forged new and fruitful relationships with
community organisations in and around Mitton Keynes. We have plans for wnore temFM)rary èxhibitions in the new
galleries whilst we raise the remaining funts for the permanent exhitltions.
Pa3e 5

MILTON KEINES MUSEUM TRUST UMrrED
(A company lirnited by guardntee)
TRUSTEES. REPORT (coF¥llNUED)
FOR THE YEAR ENDED 31 M￿CH 2022
Partnership w(Yking
city to amplrfy each othefs ￿ 8fKI achieve maxThum Thpac* f￿ communities. EXaM￿eS of partnership
8C￿￿tIeS Ind￿8.
The Parks Trust Working with the Parks TrusL Museum the new home for the Bandstand that once
stood on Willen Lake and was beiro removed to make way the redevewnent of the area. The bandstand is
now kKated on the grounds of fhe Museutn arKI is alrealy a ht wKth visitry5. It will ts the l¢xation for musoum
and leaming eveTts in the ftrture. We are ex￿11￿ Ihe Museum (*n rwae and re-use other OUtd￿r
fumilure vthen it is repla￿.
havs what I love at#)ut this museum. r8cent KeyKs h￿tory is just as import8nt to iv -
Facebook cofflm8nt
¢(￿nment
"I didn? exp8Ct lo feel when I I1￿ MUS￿ tcthy. I didn7 k￿￿ that Ihe bandstand was here-
my late wrfe and I got engaged on the tJandstarKI- lkn has teen preserved- it looks better than ever."
Vi&lor f8edback
AHA MK: The Museum bs a member of Arts and Heritsge Alliance MK and MK Heritage. We have hosted
workshops for artBts LxJnmi&sions wilh ￿nmUni11eS arKI have FAans to showw the resuttiro artwort and
instslLations n8Xt year. T¢)Jettw ￿ FYWI(*e the area's and heriby and b)ok for wayE to increase
partVjpati￿.
Organlsational Developm•nt
This yEar the Trustee, Staff aThJ VrA￿teer team have refres￿ Ihe muse￿￿'S Vision. Mission and Values and a
Case for Suppxxt has been to sUp￿¥￿t developmwtt acbth. In tandem vrith this, Ihe &year Business
Plan and a Fundrdising Str3tgJy have also been ralÉfied by the Board of Trustees and is belng implemented by
the team. We remain coJnisant of the changiry ar¥J put1￿ health arKI ffinancbal laThJscape an¢J are
keeping plans under Lwstant revie4¥.

MILTON KEYNES MUSEUM TRUST LIMITED
(A company lirnitgd by guarantee}
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Financial review
a. Financial review and going Concern
The Museum's finan￿$ have been signtficanWy affected by the continuing impact of the Covid-19 pandemic in
2021122. Visitor numbers t(KFk lime to recover and remain￿1 below the 2019 levels. This affected the amount of
income from wsiloTS {from tid(els. shop sales and restaurant sales).
On a more positive note the Museum ber￿fitted from grant support from:
Milton Ke￿e$ in relaiion to Maintenan￿ and the cdlection"
MiltC￿ Keynes Council for Covid emergency support
The Arts Council England in the fom of CU￿Ure recx)very grants Irounds 1.2. and 31,. and
The Govemment's Job Retention scheme.
The additi"on81 income has enabled the Museum to maintain ils reserves through what would otherwise have
been a very difficult time.
The Museum's financial p05ttion is showing an overall surplus of £21.045 at 31 Marth 2022 {2021.' surplus
£255,597),. this is a Gofflbination of LNJth the operating wjsition plus one-off Iterns on spectfic projects.
The Charity Tnjstees have undertaken a delailed review of the risks fa¢•J by thè Museum and has uwjated its
risk register. The Board is satisfied that s￿eMS and a¢tion5 are in pla￿ to mitigale exFK)sure to the major risks.
Looking fornard Ihe challenge to restore visttor numbers tr) previcmjs levels will ￿)ntinue but the Museum has
sufficient funds to withstand an operati(Thl deficit in 2022123.
b. Reserves policy
Our rese￿e$ policy is to reserve sufficiènt funds to cover the Museum in the event of a major setback. We aim
to hold £150,000 as cash to cover ouigoings for staff costs. utilities and maintenance. The Board has des(gnated
£200,237 85 set out in note 19.
The Board holds several restricted reserves for S￿fiC wrw)ses {see note 19 to the accounts). These lotsl
£256.013 {2021: £2TI.3521
Page 7

MILTON KEYNES MUSEUII TRUST LwrrED
(A company limiled by guarnnt¢¢>
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Mitton Keynes thJwJm Tr￿ Limited is rw3isiered as a charilable c4Jmpany Vrnited by guarantee and was set up
by a Memorandum of AsscKiation.The Mem(￿andum and Artides of Ass(mkn *we UFMYatwl in June 2021.
The Board of TNstees have resFonsiblity for ts 0￿81[ W4ern￿ of lh8 Museum. The Museum Director is
responsible for the daY-t{￿Y management of a manaJement t8am of senior voluntaers and staff members who
oversee the acliv[￿ of the Museum.
uence aTKI updated.
Trustees are Inknlev￿ ty members d the Board WKI the Board twts forward irnlmduals to be elected and l or
ccwted urthr the temis of the ManoraThYum of The aim ￿ to achieve a wide mix of skills and
The Charity Trustees. who are alx) the dIrect￿5 for the wrFose of o)mpany law. and wts) ser¥ed during the
year and up to the date of signature of the financial slatements V*ere:
CharityTry￿teeS
G Hawking (Chair)
J Beckedeg (Treasurer)
J S Hilton {Hon. PrestdenL resw 28 Awil 2021)
A Har￿ (Secretary. apwnted 28 April 20211
E P Gifford
D G Hopktns
DN Loudon
D Millis
J E Palmer
M Petchey (resign￿ 10 May 2021. ap￿1rrt￿ 27 C¢tobw 2021}
R Sumner
J Walker {resigned 17 May 2021)
S Patel (appointed 26 January 2022)
K E Savage (ap￿inted 26 Janaury %)22)
Company Secretar￿. D S Mills {reSIgr￿ 28 April 2021)
A Harris (apwinted 28 A￿11 2021)
Page 8

MILTON KEYNES MUSEUM TRUST UMrrED
{A company Ilmiied by guarantee)
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2022
Statement of Twstees. re5pon$ibilitles
The Trustees (who are also the directors ol the Charity for the puT￿)se$ of company law) are responsible for
preparing the Trustees. report arKI the financial statements in aC{x)rdan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounbng Practice).
Company law requires the Twstees to prepare finawal statements for each financial ye8r. Under Company law.
the Trustees must not approve the financial ststem8nts unless they are sab"sfied that they give a true and faif
view of the stale of affairs of Ihe Charity and of its incoming resources and application of resources. including ils
income and expendilure. for that In preparing these firk7nc￿1 statements. the Trustees are required to..
select suitable accounting policies and then apply them ￿nsisten￿￿.
observe the methods and principles of Ihe Charibes SORP IFRS 102)
make judgments and accounting estimates that are reasonable and prudent"
stste whether applicable UK AccountirwJ Standards IFRS 102) have been followed. subjecl to any material
departures disclosed and explained in the financial statements:
prepare the financial statements on the going concem basis unless f( is inappropriate to presume that the
Charity will continue in I￿siness.
The Trustees are resFK)nsible for keeping adequate ac(x)unting rec￿dS that are sufficient to show and explain
the Charitys transactions and disclose wtth reasonable awjracy at any time the financial position of the Charity
and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of Charity and hence for taking reasonable steps for the prevention
and delecb.on of fraud and other irreguiariknes.
Disclosure of inforniation to auditor
Each of the persons who are Trustees al the time when this Trustees. rew)rt is approved has confimied that..
so far as that Trustee is aware. there is ￿ relevant audit infO￿nation of which the tharitys auditor is
unaware. and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant sudit infomiation an¢J to estsblish that charitys auditor is aware of that infomiation.
Auditor
The audttor, MHA Maclntwe Hudson. has indicated his wllingness to o)ntinue in office. The designated Trustees
will propose a motion reapFX)inting the audttor at a meeting of Ihe Trustses.
Approved by order of the memtrws of the t%)ard of Tfustees and signed on their behalf by..
(Tre
at
urerl
P4e9

MILTON KEYNES MUSEUM TRUST UMITED
(A Company Ilmlted by guarnnt¢e)
INDEPENDENT AUDIToifs REPORT TO THE MEMBERS OF MILTON I￿NEs MUSEUM TRUST
LIMITED
Oplnion
We have audi￿￿ the firAncxal slatwents of fvthtlc￿ Kew Trust Limited (the 'd￿rity) for the year
ended 31 March 2022 whith o)mprise the Staternent of fina￿￿al &bvi1￿s. the Balan￿ shert the Statement of
cash fbws and the related notes. indudirvJ a summary of significant actAMJnting ￿￿1(￿&s. The financlal repo￿.ng
framework that has been applied ￿ th￿r preparation is applirxble Iw and Uniled KirKJdom Accounting
Slandards, ind￿JIr0 Financial Reporb"ng Standard 102 Tr Finanoal Repcffting StaThJard ap1￿1cab1e in the UK
and Repubtic of Irdand. (United lfjngdom Generally Aw)ted kn(xintirwJ Practic*).
In our opinK)n the financial statements:
give a tnje and fair of the state of the dwritable {x)mpan￿$ affairs as at 31 Marth 2022 and of tts
In￿Mir￿j resources and aFvlicakn of resources. indudiT¥J ils income arKI extwyjlture for the year then
ended..
have been prO￿ty [Kep8r￿1 in ac£4)rdanee wilh Unllwl Generally Accepted Accounting
Practice.. and
Basls for oplnlon
We CcffiduC￿ our audit in aC(xjrdan￿ with Intemational StarKJards ￿ AudttiTrJ (UK) (ISAS (UKII and applicable
law. Our responsibilities under those starKlar(Ls are fijrlher desCril￿d in the Audstofs responsibilities ts the aLKlit
of the financial statements wtion of our r8tK¥t We afe iThlependent of the charitable company in accordance
tr¢ the ethi￿1 rgjuirements that we relewant to audtt of the financial statements in the United Kingdom,
induding the Finanual RepcM1iro C￿1n¢1rS EthirA Standard, aThJ we have fulfil￿ our other ethical
responsibilities in atxt*dance with these requirem￿119. We believe that the audit evidenc* we have obtained is
suffi￿ent and appro￿￿te to provbje a basis ￿ cwr (4)ini¢J).
Concluslons relatlng to golng ¢on¢¢m
In audftlrwj the fina￿la1 slatements. have Ihat tt* TnJst*s' use of the going u)ncem basis of
accounting in the ￿eparati￿ of the fin*Kial statements is appropriate.
nditions that, individually cf ￿l￿￿¥￿Y. may cast swJnificant on the charilable compan￿$ abilty to
(xjntinue as a g(MThJ (x)nC￿ for a of at least t*elve mcfflths from t*then the financkql statements are
aulhorised issue.
Our responsibilibes and the reswthikli8s of the TNsiees wilh respect kn ￿￿ng cOr￿n are des(¥ibed in the
relevant sections of this re￿t
Pag8 10

MILTON KEYNES MUSEUM TRUST LIMITED
(A company limited by guaranleg)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MILTON I(EYNES MUSEUM TRUST
LIMITED ICONTINUEDI
Othor infomiation
The other information comprises the infornalion included in Ihe Annual report other than the financial statements
and our Audilorfs report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other infomialion and, except lo the
extent otherwse explic5dy stated in our retK)rt. we do r￿t express any form of assurance conclusion thereon. Our
responsibility is to read the other inforrnalion and. in doing so. consider whether Ihe other infomiatson is
malerially inconsistent wilh the financial statements or our knowledge obtained in the course of the audit. or
othenNise appears to be materially misstated. If we Klenbfy such material inconsistencies or apparent material
misstatements, we are required to dete￿line vthether this gives rise to a malerial misstatement in the financial
statements themselves. If, based on the worf( we have p￿formed. we conclude that there is a malerial
misstatement of Ihis other i￿omi2t10n. we are rw4uired to retKKi that fact.
We have nothing to reFKJl in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the aud
the iTrfomiation given in the Trustees, reFKlrt for the financial Itar for which the financial statements are
prepared is Gonsistent wth the financial slatements.
the Trustees. re￿rt has been prepared in aCCordar￿e with appli￿ble legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge arKI underslandiThJ of the charitable ￿MpanY and its environment obtained in the
course of the audi( we have Tr)1 identrfied material misststements in the Trustees, reporL
We have nothing to rewjrt in reSp￿t of the folk)wrvJ Matte￿ in relation to which Companies Act 2006 requires
us to report to you rf. in our o￿nIon..
adequate accounting records have not been kepL or re￿rnS adequate for our audit have not been
received from branches nol visited by us",
the financial ststements are not in agreement ￿ryth the ac(x)unting records and rebjms" or
certain disdosures of Trustees. remuneration swified by law are not made: 01
we have not received all the infofTnation and exp1ar￿110nS we require for our aud(É' or
the Trustees were not entiiled to prepare the financial ststemenls in accordance with the small companies
regime and take advantage of the small cA)mpanies' exemptions in preparing the Trustees, reFN)rt and
from the requirernent to prepare a Stralegic report.
Page 11

MILTON KEYNES MUSEUM TRUST uMrrED
(A Gompany IFmiled by guarantee)
INDEPENDE￿r AUDITOR7 REPORT TO THE MEMBERS OF MILTON KEYNES MUSEUM TRUST
LIMITED {CONTINUED}
Rosponslbilities of trustees
As explained more fully in the TTr￿. res￿￿1￿lti8S siatemw( the Trustees (WI￿ are also the diractors of th8
charitable company for wrposes of company law) are re$l￿￿)le for the preparation of the financial
statements and for beirrfJ saltsfi￿1 that they gve a arKI fair VBW. and for such ￿t￿nal ¢£￿trol as the
Truste8s determine is necwry to enatde preparalion of fnarwl statements that are fre8 from material
misslatemen( vthether due to frathj or errc￿.
In preparing Ihe financial statements. TnJste8s ar& reswxtsible for ass8ssing the charitable (XIMpan￿$ abibty
to continue as a going con￿rn. disck)siw. as aFokable. mallers reEateA to gDing con￿rn and using the goiNJ
conom basis of acc(MJnting unless the Trusiees either interKI to liquidate the charilable company or lo cease
Our objectives a￿ to obtain reas(Nth assuran￿ aimyjt *thether the finan(ial statements as a V*hole are free
from material misstatemenL 7thether due to fraud (ff err(K. and to issue an Audrtorfs report that incbudes our
opinion. Reasonable assuran￿ is a high leveE of assurwKe. bui is not a guaranlee that an audit ￿ndUCted in
accordance wth ISAS (UK) ￿11 alwa￿ detecl a material misstatement wtw it exists. Misslatements can 8rlse
from fraud ￿ e￿or arKI are u)nsHIer￿1 material if. irmliwdualty or in the wegate. tlw coukl reasonably be
lffegulariknes. Irt1￿11r￿J fraud. are irtstws of nC￿￿(￿ffip1l￿ with and wulalions. We design pr￿dures
in lir￿ wth our resFxM)sibiliti8s. IMJIIW￿y atx)ve. to det￿t material misstatements in respect of irregulaiities.
induding fraud. Th8 extent to vhjich our Ky(#￿1￿reS are (2patAe of detediry ￿regU￿￿. includirKJ fraud is
detsiled below.
- Enquiry of management around ￿tUal and ￿tential litigatmj) and daims".
- Perfrffming audit work over the risk of management override of controls. wxluding ttisting of joumal entries aThJ
other adjustments for appropriateness. evalualing the bus1r￿S rati￿[ of swJnfficant transactions (Mjlside the
normal course of business and revivwing aCc￿ntIng estimates fLf bi8S:
. Reviewing minutes of meeliTrJs of those charged ￿ govwnance:
applThble lav•E and regulali(
A further description of our responsibli ities for the audit of the financk91 statements is located on the Financial
Reporting Council's website at VhV4V.frc.
.uklaudtlorsres
iltties. Thts description forms part of our
Auditovs reporL
P•Je 12

MILTON KEYNES MUSEUM TRUST UMITED
{A company lirnited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MILTON I￿NEs MUSEUM TRUST
LIMITED (CONTINUED)
Use of our report
This report is made solety to the charita￿e 1￿mpan￿$ members, as a tthy, in accordan￿ wth Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we Might state to the charitsble
companls members those matters we are required to stale lo them in an Auditor's report and for no other
purpose. To the fullest extent ￿m)Illed by law. we do not awpt or assume responsibility to anyon8 Other than
the charitable company and its members. as a tMyYy. for our audii work. frx this report. or for the opinions we
have formed.
Ellzabeth Newell BA IHons) FCA (Senlor statutory auditorl
for and on behalf of
MHA Maclntyre Hudson
Chartered Accountsnts
Statutory Auditors
Milton Keynes
Date..
P￿e 13

MILTON KEYNES MUSEUM TRUST LIMrrED
{A company liffliied by guarantee
STATEMENT OF FINANCIAL ACTIVfflES {INCORPWTING INCOME AND EXpEND￿uRE AccouKr)
FOR THE YEAR ENDED 31 MARCH 2022
Totsl
funds
2022
Total
funds
2021
fvnds
2022
funds
2022
In¢orne from:
Donations and legaci&s
Charitable adivities
263.158
181,151
546.597
15.360
911
181.151
Other income
&457
5AS7
23,076
Totsl Income
450A7T
37.085
487.462
585.944
Expendilure on:
Raising funds
Charitable aclivib
15.197
15.197
451220
17,478
312,869
14258
Totsl expgnditure
452.159
14258
466.417
330.347
Net {0xF￿￿1tUm)fIThG0Th
Transfers betr￿n funds
{1,782)
44.166
21,045
255,597
18
(44166}
Net movement in funds
.339}
21.045
255,597
Reconclllatlon of funds:
Total funds br￿ht forward
Net movement in ￿J￿IS
477A03
2Tf.352
(21.339)
754.755
21,045
499, 158
255,597
519,787
24013
T15,800
754. 755
The Statement of finanoal actsvIt￿ ￿CIl￿S all gal￿5 army kssses reC￿nI￿£ in the ￿ar.
The notes on pages 17 to 30 f(ym part of these finarKid statements.
P4e 14

MILTON KEYNES MUSEUM TRUST LIMITED
IA company limited by guardntee)
REGISTERED NUMBER: 02302281
BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Flxed assets
Tangible assets
Heritage assets
12
13
84,137
40.079
60,9f9
17,270
124216
78,189
Current assets
Stocks
Debtors
14
9.332
8,405
676.585
16.417
25,246
685,330
15
Cash at bank and in hand
694,322
726.993
Creditors: amounts falling due within one
year
16
142,738)
(50,427)
Net current assets
651.584
676,566
Total assets less current liabilities
775.800
754, 755
Nèt assets excluding pension asset
775.800
754. 755
Total net assets
775.800
754, 155
Charity funds
Reslricled funds
Unrestricted fvnds
18
18
256,013
519.787
277,352
477,403
Total funds
775.800
754,755
Page 15

MILTON KEYNES MUSEUM TRUST UMrrED
(A company limited by guarantse)
REGISTERED NUMBER: 02302281
BALANCE SHEEf (CONTINUED)
AS AT 31 MARCH 2022
The Trustees acknowledge their resFN)nsibilities for c￿Mp5￿ wtlh the requirements of the Act wih r8spect to
accounting re(xffts and preparati￿ of fintwcial statements.
The fina￿la1 statements have Lwi prep¥ed In with the applicable to ￿lItIeS subject to
the small (x)mpanies regime.
The finan
' I statements were approvaj and au11b￿ for IS￿ by the TDJStees and sigrwj on their behalf by.
{Tr
asurer)
0>3
The notes on pages 17 to 30 form part ofthese ￿na￿la1 statements.
Page 16

MILTON KEYNES MUSEUM TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
General inforniation
Mitton Ke￿e$ Museum Trust Limited is a private (x)mpany limited by guarantee incorporated in England
and Wales. The registered Offi￿ is Mcconnell Drive, Wolverton. Milton Keynes, MK12 SEL.
Accounting policies
2.1 Basis of prèparation of financial statements
The finanual slatements have prepwed in a¢(￿dance the Charities SORP IFRS 102} -
Accounting and RepK)rting by Charities: Statement of Recommended practi￿ applicable to charities
prepariThJ their accounts in accordan￿ wlh the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102} {effective 1 January 2015}. the Financial Reporting Standard
applicabla in the UK and Republ￿ of Irdand {FRS 1021 and the Companies Act 2006.
Milton Keynes Museum Trust Limited meets the definrlion of a publ￿ benefit entity under FRS 102.
Assets and liabilities are inrbally recognised at htslori￿I cost or transaction value unless otherwise
ststed in the relevant accounting poliw.
Th6 financial statements are prepared in sterling . which is the functional currency of the Chartty.
Monetary amounts in these financial statements are rounded to the nearest £.
2.2 Golng concem
At the lime of approving the financial statements. the Charity Tnjstees have a reasonable expectation
that the Chanty has adequate resources lo conb.nue in operational existen￿ for the foreseeable
future. Thus the Chartty Trustees u)ntinue to adopt Ihe going ￿)n￿M basis of accounting in
preparing the financial statements.
Covid-19 SlaÉefflent'.
In response to the Covid-19 pandemic. the Charity Trustees have ¢>)nsidered Ihe future cashflow
requirements of the Chartty and how these might be impacted by Covid-19. Based on these
eonsiderations 2nd having ward to the resources available to the tharity. the Charsty Trustees have
concluded that there is rK) material Un￿rtaInty arising from the Covid-19 pandemic and that they can
continue to adopt the going CA)ncem basis in preparing t￿ annual rewrt and accounts.
2.3 Charitable funds
Unrestricted funds are awailatAe for use * the discretion of the Charity Tn￿teeS in furtherance of
their charilable objectives.
Restricted funds are subject to spectfic c￿d￿$ by donors as to how they may be used. The
purposes and uses of Ihe restrthd funds are set out in the notes to the financial statements.
Page 17

MILTON KEYNES MUSEUM TRUST uMrrED
(A ¢ompany limited by guararrtee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PAARCH 2022
Accounting poll¢l8s {¢ontin￿d)
All in¢J)me is recDJni￿l the Charity has entlu￿￿ to the income. il is protrAble that the
inc(The will be retsived arKI the ￿lount of irK(xne rece￿th can be measur￿1 rnlkgbly.
Grants are inclLthJ ￿ the Statement of finan￿al ￿￿vIbeS on a re￿Ivable basis. The balance of
income r￿e1Ved for speuhc purF#)ses but not ex[￿￿ed duriro the ￿My1 is shovm in the relevant
funds on the Balance sheet. Where income is ra￿[Ved in adv8ncè of entiyement of receipt. its
recognitKm is deferr￿ and induded in Ixedti(Jr5 as defer￿1 inC(￿e. Where enlidement ocr4Jrs
2.5 ExF￿ndItUrtt
ExpeThJibJre is le￿jniSed 0￿e there is a legal or tX¥￿tructi￿ obligatson to transfer e(£¥nomic benefit
to a third party. it is wobatle that a transfer of benefits wll be required in settlement and
the amwnt of the oblh3atui can be measured reliaw. EXp￿rture is das$￿1 by acknwty. The costs
of eath actswty are Fnade up of Ihe total of direct costs and shared costs, including support costs
invofved in undertakiThJ each act￿ty. Dr&t costs attributable to a Sing￿ activty are albcated directly
to that adivity. Stsrryl costs which corrtrI￿ to more than one actswty support costs which are
not attributable to a single actiwty are aprMlrt*x￿ tetween those acbvibes on a basis consi%tent
the use of resour￿. Central staff L￿ts are alkx*d ￿ the basls of time sponL and dopreciatson
dHrg8s alioLzbJ on the [¥)rts￿ of the assefs use.
Expendibjre w Taising funds indudes all expenditi]re l￿jrred by the c1￿1¥ty to ralse fvnds for its
chaTitabie purw)ses and indudes costs of all furKlraÉsing aciNitses events and nonvcharitable trading.
Expendi￿re on itsritable is HM)JrrgJ cfft dir￿ undwthng the acttvihes which further the
Charitys objectives. as well a5 any as￿lated suKpxt crtsts.
All expendiiure B inclusive of Irrec0￿￿e VAT.
Tangible fixed assets are ca￿￿lIsed 8rKJ re￿￿￿%&1 when firture eLXrK￿lc t￿￿fits are pr(A)able
and cost or value of the asset can be measured feliably.
Tangible fixed assets are iniliaty recc•3ntwl at After rBc(NJntlion. uThJer the cost mcxjel. tsngible
fix&J assets are measuTpd at cost less accumuLited depre￿￿10￿ and any accumulated impairment
losses. Al costs incurred to twiw a tarvJible ￿ed asset into its intended working condition should bg
indUd￿j in the measuremerrt of ￿$t
PwJe 18

MILTON KEYNES MUSEUM TRUST LIMITED
(A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icrjnlinuedl
2.6 Tangible fixed assets and deprKlallon (continued)
Depreciation is charged so as to all￿ate the cost of langible fixed assets less their residual value
over their estimated useful lives. using the straight-line method.
Depreciation is provKled on the fdlowing basis:
Freehold property
Fixtures and fittings
offi￿ equipment
10%
25%
25.10
2.7 Heritage assets
The Charity possesses a historical collection of herilage assets. which are accessible to the public for
viewing and research. These are re¢(￿nised inrtially at cost of acquisition.
2.8 Stocks
Stocks are valued at the low of cost and net realisabie value after making due allowance for
obsolete and slow-momng SIC￿S.
2.9 Debtors
Trade and other debtors are rwnised al the setdement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounls due.
2.10 Cash al bank and in hand
Cash al bank and in hand indudes cash and short-term highly liquid inveslments wih a short maturity
of three months or less from the date of acquisition or opening of the deposit or sitnilar account.
2.11 Liabilities and provisions
Liabilibes are recognised when there is an obligation at the Balance sheel date as a result of a past
event. tt is probable that a transfer of economic benefrt will be required in settlement. and the amount
of the settlement can be estimated reliably.
Liabilities are reccMJnised at the amount that the Charity anti￿pate$ it vrill pay to setue the debt or the
afnounl it has re￿IVed as advanced payments for the gocmjs or serwces it must provide.
Provisions are measured at the best estimate of the amounts wuired lo settle the obligation. Where
the effect of the time value of money is material, the prOv￿lon is based on the present value of those
amounts, discounted al the pre-tax discount rate that reflects the risks specrfic to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 19

MILTON KEYNES MUSEUM TRUST UMrrED
IA company Ilmtted by guarantee)
NOTES TO THE FINANCIAL STATEIAENTS
FOR THE YEAR ENDED 31 MARCH 2022
A¢oounting policies {wrtinu8d)
2.12 Financial instruments
The Charity onty has ffinancial assets WKI financi81 liabilibes of a kind that qualfy as basic financial
instruments. Basic finan(ial instruments are initsdty reC￿Jni￿￿ ai transaction value and subsequenJy
moasured at their setll8ment walue with ts eX￿rAir￿ of bank loarts Ythith are subSequen￿Y
2.13 Fund ac¢ourrtiftg
furtherdnce of the obAectives cl the Cl*rity and *tiK*) TrDt Ixen deS￿Jnated for other
p￿rPc￿.
Designated funds comprise Unrestric￿ funds that have been set astyje by Ihe Trustee5 for particular
purpLW. The aim and use of each designa￿1 fuThJ is set oul in th& not&s tr) the financial
donors or bthich have been raised by the C￿rity parli¢￿78r purFM)ses. The costs of raising and
administering such fuNls are charged wJaitLSt spectfic fvTrJ. The aim and use of each restricted
fund is set ¢JJt in the notes lo the financial Stat￿ents.
InVeStm￿t income. gains and losses *e al￿￿￿￿j to fijnd.
Totsl
fund5
2022
Total
fvnds
2021
funds
2022
funds
2022
Donatirms
18,OTT
245.081
25,162
275.081
11.365
535.232
Grants
263.1&8
37,085 300.243
546.597
Total 2021
516,330
30,267
546.597

MILTON KEYNES MUSEUM TRUST LIMITED
(A company limitgd by guarantoel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Income from charilable activtties
Unrestricled
funds
2022
Total
funds
2022
Total
funds
2021
Entrance and group fees
Shop income
Tea shop
124.371
15.305
41.475
124.371
15.305
41.475
70,778
4,582
Total 2022
181,151
181,151
t5,360
Total 2021
15.360
75.360
Investment income
Unrnstri¢ted
funds
2022
Total
funds
2022
Total
funds
2021
Deposit interest
611
611
911
Total 2021
911
Other incoming re$our¢es
Unrestricted
funds
2022
Total
fund$
2022
Total
furRds
202t
other incorne
5.457
5.457
23,076
Total 2021
23,076
23,076
Page 21

MILTON KEfNES MUSEUM TRUST UIArrED
IA ¢ompany limited by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Summary by fund type
funds
2022
funds
2022
Total
2022
Total
2021
CFBiitable acliviknes
Staff costs
Depreciation
225,7g)
191.285
19.887
226.174
205.159
I9￿7
113.262
190.712
8,895
13,874
436,
14.258
451,220
312.869
Total 2021
254,595
58.274
312.869
Ana￿1$ of expenditure by actlvltios
Totsl
fund5
2022
Total
funds
2021
direety
2022
2022
Charitable actiwtie5
staff ¢o$ts
203,81MI
205.159
19.887
22.374
226.174
205.159
19.887
113,262
190.7t2
8,895
428.846
22.374
451.220
312,869
Total 2021
297,807
15.062
312,869
Auditots remuneration
2022
2021
Fees payable to the Chart¥s audikn fwthe audrt of the Ctrwitls annual
4.962

MILTON KEYNES MUSEUM TRUST LIMITED
IA Company IlmSted by guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Staff costs
2022
2021
Wages and salaries
s￿la1 security costs
Contribution to defined contribution pension schemes
188.508
13.249
3.402
177,885
70,327
2,500
205,159
190.712
The average number of persons emtdoyed by the Charity dursng Ihe year was as follows:
2022
No.
2021
No.
Average number of emtAoyees
No employee received remuneration amwntirwJ to more than £60.000 in either ￿ar.
During the year. key management personnel of the charity received remuneration, in¢luding gross salary,
employers, national insurance and pensKffi contributions amounted to £75,320 (2021 £40.833}.
11. Trustees. remuneration and expon
During the year, no Trustees received any remuneration or other ￿nefits (2021- £NIL).
During the year ended 31 Marth 2022. Trustee expenses have been incurred (2021- £NIL).
Page 23

MILTON KEYNES MUSEUIIi TRUST LIMrrED
{A company limited ty guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
12. Tanglblg fixed assets
Fixtures and
fittings
Office
equlpm•nt
Buildings
Total
Cost or valuation
At 1 Aprl 2021
110.783
43,104
40.4T3
2.681
At 31 March 2022
32,626
153.887
At 1 April 2021
Charge for the
24121
15,6S2
25,743
2,163
49.864
19.886
2.071
At 31 Marth 2022
2.071
27.906
69,750
Net Ix)ok value
At 31 March 2022
38J52
41,065
84.137
At 31 March 2021
56,717
4.202
60.919
Herltsge
assets
2022
Totsl
2022
Carryryng value at 1 fvwil 2021
17.270
22.809
17.270
22.809
40.079
40.079
P&Je 24

MILTON KEYNES MUSEUM TRUST LIMrrED
(A company limited by guaranlee}
NOTES TO THE FINANCIAL STATEAIENTS
FOR THE YEAR ENDED 31 MARCH 2022
14.
Stocks
2022
2021
Finished gocxls and gc￿S for resale
9,332
16.417
15. Debtors
2022
2021
Due within one year
Trade debtors
Other debtors
1.857
1,849
4.699
(30)
20,707
4,569
Prepayments and accrued income
8A05
25,246
16. Creditors: Amounts falling due within one year
2022
2021
Trade creditors
Other tsxation and social securtty
Other Cr￿litorS
17,425
5,282
2,450
17.581
27, 740
7.129
2.243
13,315
Accruals and deferred income
42,738
50,427
17.
Financial instruments
2022
2027
Flnanclal assets
Financial assets measurwj at cost through income and expendilure
676.585
685.330
PaJe 25

MILTON KEYNES MUSEUM TRUST uMrrED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Balance at
Transfor$ 31 March
inlout
2022
Balance at 1
Awll 2021
unrestrict￿ filnds
Designated fufK15
Designated tafiff fuNknng
Designated grant fvnded
capitsl
Project SUPF4Yt
135M53
583)
101870
47.366
19.500
(13.665)
53.201
44,166
44,166
181819
19.5110
(46248
44.166
200,237
Taiiff funding
Funds L￿d to meet Ihe agreed cA)sts of the Heal of FundraistrxJ and Devekynent.
Designat￿ grant funded carAtsI
Deferred capttal grants used to offset (x)st of dep￿￿al￿ of grdnt SUppN￿. ¢Apttal expenditure.
Proiecl Support
Funds set aside to supFKwt agrega pr(4eGts Iznnot be met from the OF*rnti￿l budget.
Genernl funds
General F￿ds- all funds
2¥564 430,8TI
(405,911)
319,550
Totsl Unrestricted funds
47TA03
450.3TI
(451159}
44.166
519.787
Crmnected Earth Fund
New (Ancient) Gal
Grant re A￿1viSt
The Bradwell wIr￿mIE
1fj6
203.276
942
(44.1661
210,361
8.068
27,584
10.000
14OIMI
{11874)
10.000
37.085
114258)
(44166)
256,013
Totsl of funds
754755 487A62 (+166A1n
775,800

MILTON KEYNES MUSEUM TRUST LIMrrED
IA company limited by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
18. Statement of funds (continugd)
Connected Earth Fund
This fund was used in support of the telephOr￿ gallery. Spending to the value of the funding was not
charged initially to the fund. This has been corrected in 2021122.
New (ancient} Gallery
To support spending on the new galleries- AncEnt arKI Modern - including fitting out the exhibition space.
Grant re: Arthmst
Funds received from Milton Keynes Council to meet the costs of the ArChi￿$t. Any income which is not
spent is held for future years.
The 8radwell Windmill
Funds received from Millon Keynes c￿1n￿l to contribute to the day-to-day upkeep of the Bradwell
Windmill less any expenditure incurred_
Funds used for Herrtage Assets
Money re￿iVed which has been used to acquire heribje assets.
Page 27

IAILTON KEYNES MUSEUWI TRUST uMrrED
(A Gompany Ilmlt¢d by guaran￿)
NOTES TO THE FINANCIAL STATEm￿s
FOR THE YEAR ENDED 31 MARCH 2022
18. Statement of funds (continued)
Balanc8 at
31 March
2021
I W 2020 Inc(Mn8 E¥penditure
Designated funds
DeS￿nated tariff fijnding
Designated grant fund￿ cap¥tal
135.453
47,366
135,453
47.366
181819
182.819
General funds
General Funds- all funds
193.799
372,858
{272,073)
294,584
Total Unrestrictod fur
193.799
555,677
(272.073)
477,403
conne￿ Earth Fund
{Ancient) Gal
Large Exhibit Dhsplay Building Fund
Grant re thhiwst
The Bradweil Wirmlmil
44.166
44.166
203.276
10,267
(16,(KKI)
(27.917)
(13,674)
(483)
27.9t7
5.816
18,451
15.LXKI
6,942
22.968
30&359
30.267
{58,274)
277,352
Total of funds
499,158
(330.347)
754. 755
Pd98 28

MILTON KEYNES MUSEUM TRUST LIMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
19. Summary of funds
Summary of funds- current year
Balan¢e at
31 March
2022
Balance at 1
Aprll 2021
Transtsrs
Inlout
Income Expenditure
Designated funds
General ftjnds
Restricted funds
182.819
19.500
430.871
37,085
{46.248
{405.9111
114.258)
44.166
200.237
319.550
256,013
{44.1661
754.755
487.462
(466.417)
775.800
Summary of funds - Prior year
Balance al
31 March
2021
Balance al
l Apnl 2020
Income Exp&nditure
Designated funds
General funds
Reslricled funds
182,819
372,858
30.267
182.819
294,584
277,352
193,799
305.359
{272,073)
(58.274)
499. 158
585.944
(330,347)
754, 155
Analysis of net assets betwaen funds
Analysls of net assets betwgen funds - current year
Unrestrlcted
funds
2022
Restrtcted
fvnds
2022
Total
funds
2022
Tangible fixed assets
Heritage assets
Current assets
Creditors due vthin one year
84.137
30.079
448.309
{42,738}
84,137
40,079
694,322
{42.738}
10.000
246.013
Total
519,787
256,013
775,800
Page 29

MILTON KEYNES MUSEUIA TRUST LipJirtED
(A company limtted by guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
21.
The Charity cyerates a deffin￿ contrknu￿ stheme all qualifying emtAoyees. The assets of
the scheme are held separatdy fr(xn IIKk8e of the ch￿ in an iNJeFer¥Jenty adminiSt￿ed fund.