Company Reglstratlon No N1045100 THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) Page Report of the Trustees Independent Examin6rfs Report Stalement of Financial A¢tivitie5 (induding Income and Expenditure Account) Balance sheet 10 Notes forming part of the financial statements
THE SIEGE MUEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The Board of Trustees presents its report and unaudited financial statements for the year ended 31 Decernber 2021 whh are also prepared to meet the requirements for a Directors, Report and accounts for Companies Act purposes. The trustees have adopted the provisions of the Companies Act 2006 and A¢¢ounts'ng and Reporb'ng by Charities.. Slalement of Recommended Practice applicable to chartties preparing their accounts in accordan with the Financial Reporting Stsndard appliGable in the UK and Republic of Ireland IFRS 1021 leffectFve 1 January 2015)- Icharities SORP IFRS 10211. in preparing the annual report and finan¢ial statements of the charty. Rofer8nc• and Admlnlstratlon InfornMllon Charty Name.. The Siege Museum Limrted Charity Refence Number. NIC 104796 Company Registration Numter. N1045100 Registered Office.. The sge Museum 13 Swety Street Londonderry Co Londondery BT48 6PJ Trustees mrwillm Hay Mrwilliqm S Moore Mr James Brownlee Mr Ronald Mccausland Mrworthinglon McGralh Mr Ivan Taylor Mr William Thompson Mr Richard Wray Mr George Luney Mr Victor Wray Mr Michael Speers Mr James Speers Mr Noel Moore Mr Raymond Chestnutt (passed away 28 January 2021) (apwinted 7 April 20211 Socretary Mr Worthington McGrath Accountants Mccartney & Co Chartered Accountants & Regtstered Auditors Grove House 27 Hawkin Street Londonderry BT48 6RE Bankers Danske Bank Business Banking Donegal SqLbare West Belf8St BT16JS
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED) Our Oble¢tlvos and Actlvitles Pur oses and aims Our ¢harity's purposes are as set out in the objects clause ntained in the company's Memorandum of Association.. To restore and promote the pennanent preseNation, for the benefft of the public generalty and especially the inhabitsnts of the aty of Londonderry of a Memorial at the Royal Bastion, City Walls, Londondery to the Late Reverend George Walker, Irtt Governor of the aty of Londonderry during the siege of 1689 and to establish and maintain for the education and benefit of the public generally and especially the inhabitants of the city of Londondery museums. interpretive or heritage centres within the Cty Walls of Londonderry lo depict by display and chronides, the attainments of the Scotb'5h. English and French Protestant settbrs and dendantS in the City and County of Londonderry with a permanent feature on the events of 1688- 1689 incorporatr.ng the Reverend Doctor George Walkerfs influence on the besieged and his subsequent national alM The focus of our work Our main objective for the year to provide tours and exhibitions for the benefrt of the publt relab"n9 to the Glorious Revolution of 1688, with history and hentage around the walls of Londonderry through the siege heroes trail and other events within the city How our charity actlvltles dgllver publlc benefft Who use and benefit from our services? Our objects and funding focus on the promotion. education and preservation of the historical events surrounding the Great Siege of 1689 and the benefft extends lo the general public within Northern Ireland and Ireland, intemab'onal visitors, educational bodies and Cross communrty inib"atsves. A core element of the project wll be the development of new teaching materials on the history of the Great Siege. for primary and secondary s¢hc¥)Is, which will link in wrth both the Northem Ireland and Ireland educational syllabuses. In setting our obje¢lives and planning our acts"vrtie5 for the year the trustees have given carefvl consideration lo the Charity Cornmission for Northem Ireland's guidance on publ benefit lo ensure that the activities have helped lo achieve the charity's purFoses and provide a benefrt to the beneficiaries. Our aims, objectives and activities are reviewed, monitored and assessed through our ongoing programme of regular committee meetings. The committee is made up of individuals within the statutory, business. voluntary and community sectors. Activities achievements and rfoman Following the enforced ¢losure due lo Covid 19 The Siege Museum reopened on the 24 May, with a sense of purpose and promise. Unfortunately. the last week of May and the month of June were ex¢eptionolly quiet. with few group visits and even fewer walk-in visrtors lo the museurn. Although open. we were faced wrth the challenge of attracts"n9 groups and indivKluals. Concern existed Ythin the community around enten9 buildings an¢J indivhluals Circulating in close proximty. Despite the museum closure, we conlinued to promote our on-line sales and the Directors took a decision to invest in a new sales website. To justify the cost the Directors agreed to consider produ¢ing new and bespoke souvenirs and keepsakes that would validate the expenditure. Despite the initial pessimism, July and August suddenty sprung into life Yrith visitors again on the move seeking local attractions. The Siege Museum became a must visit for many on local staycation$ and we responded quickly lo again create a safe working environment for guests and employees.
THE SIEGE MUSEUM LIMITED IA COMPANY LIMITED BY GUARANTEE) REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED) Despite the ongoing diswptions, the Siege Museum delivered several communty projects during 2021. The projects encouraged a greater understanding of the history. cullure and tradrtions of the Apprentice Boys Association and received the support and gotrd wll of many communFts"es throughout Northern Ireland and beyorKI. The museum guides were delighted to welcome several communty groups, local schools and a few university groups from the United States researching conflicl resolution. The students found the museum and its content eal lo understsnd the road lo peace in Northem Irel8nd_ The gallery continues to provide a shared space and a comfortable environment to all groups who wsh to understand the culture associated with the Great Siege of Londonderry and its legacy. Sifi reopening, rt has been pleasing to welcome, and conduct a gu•Jed lour of the facility to several influential guests. These included the Secretary of Stale, Brandon Lewis and the Chief Constable of Ihe Police serVe of Northem Ireland, Simon Byme. Tuesday 2 November 2021 will be remembered as a most rewarding occasion for the Siege Museum. We were privileged to greet Her Royal HvJhness, Princess Anne. The Princess Royal was wekomed to the museum, introduced to the museum directors. hall trustees, presentalNes of the Apprentice Boys Parent Clubs and entertained by Solus Highland Dancers and the Churchill Flute Ensemble. Prior to departure the Princess Unvei a Centenary Stone marking 100 years of Northern Ireland. Rec nclude: Urban Vllla e Inltlatlv¢: We were delighted lo recommence welcoming visiting groups from the council dislfi¢t of Londonderry & Strabane lo Ihe museum under this funded inf(iative. Although a challenging project, we were pleased lo proceed with the venture and resume group visits to the museum. Due lo covid regulatsons, the project has been operating under a stop start programme. however. we are optimistsc that we can resume nomal business next year with interface groups visiting from throughout Northem Ireland. Regrettably, we were unable lo reach our target numbers due to ck>sure. however, we believe that Urban Village funders will lake into consideration Ihe curnt drfficu'es, and this will not affect a futu programme. Dorry Clty & Sirabane Dlstrlct Coun¢ll'. Following a fvnding application to DC&SDC Cultural Organisations Fund, we were pleased lo secure £4,948. This funding will assist towards museum overheads. A successful applicalion totslling £12,052 was obtained from DC&SDC Hentage Animation and Visitor Servicing Fund. The fvnding will be used towards salary costs for staff members and promob.onal and animation projects. A successful application for £2K fijnding from DC&SDC Decade of Centenaries Fund was also secured - the maximum available. Our project created a centenary Lambeg dTum featuring a portrait of Lord Craigavon, thè first Prime Minister of Northern Ireland. Interactive educational workshops are organised around the design, engaging groups in conversation about the history of Northem Ireland. The funding also assisted towards street entertainment provided by Willie Drennan and his musical friends, enhancing the opening of the CentenNlal Wall, Lamteg Drum and the CentenNlal Cannon. Urban Tourism: It was pleasing to be invited by Council to participate in an Urban Tourism Expernce Programme and submit an application to assist wilh the cost of a new walls map at the reception level of the museum. Once again, this was a compelikn.ve application however, we secured the maximum £2K towards our project. The walls map wll also be supplemented from a Sussful application lo Oepartmenl of Foreun Affairs Reconciliation Fund lotalling £14,610. A small sum of this is ringfenced towards the map. with the remainder to bring 12 groups during 2022 to the Siege Museum for a guided tour, and provide refreshments. coach travel and a booklet on the siege
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED) Northern Ireland Office: We were pleased to secure fvnding tolalling £10,000 frorn the N.l.O. Shared History Fund managed by Heritage Lottery to create a CenlenNlal Wall in the museum. This featured the six Prirne Ministers of Northem Ireland and exhibited interesting local pictorial events which took place during their premiership term. The Wall was opened on Saturday 24 July. attended by the Mayor, Alderman Graham Warke and Jim McGreevy. committee mernber of Heritage Lottery Fund. The fundin9 also incorporated the ¢ost of a pamphlet promotin9 the concept and an online lalk by Dr. DavKJ Hume, descnbing the formalion of Northern Irdand. Partnershl The museum is delighted lo be psented on a Walled Cty Hentage Venues Group coordinated by officiaL8 from Derry City & Slrabane District Council. This committee will pioneer and encourage visitors to the erilage venues around the walls and the city in general. A visitor pass system has teen created and managed by Visit Derry. The museum continues to WOTk towards achieving Northem Ireland Museum Accredrtation and is most gratefijl lo our stsff memter, Stuart M¢)ore, and In particular Board Member Richard Wray, who meticulously pioneer this complex and extensNe pro9ramme. Their fvS is targeted towards wrth.ng and implementing the policies and plans required by N.1. Museums Council to comply with the qualificatDn. When complete, the awreditation will enhance prospects for sustainability, assist future funding applications and m05t importantly. comply condrtions set out by fvnding agencies that contributed towards the construckn.on of the museum. After tsyo year5 of corresponding wth the Ulster Museum, we finally managed lo secure, on loan. a small gold key that was presented to Lady craay0n when she officially opened the eXtensn lo the Memorial Hall in 1937. This ts now on display in a cabinet at the recepb'on area of the museuln. Soclal Modla: The Siege Museurn'5 web51te displays all relevanl information about the Tllu5eum, introducing events & prograrnmes, opening hours, admission prices, facilities and directions. Facebcrt)k and Twitter ensure visitors are updated wlh relevant events, including tslks and tours that are taking place. Fundraisin A variety of Siege Museum and Apprentice Boys branded gifts are available in the museum retail space. The souvenirs range from badges, keyrings and magnels to hocdies, flags and glass sets. The Siege Museum logo and Apprentice Boys crest are prominent on a number of these iterns and proVe the museum with a further valuable source of Income. They continue to serve as a prominent mean5 Of marketing and advertising. The merchandise is also aV3ble lo purchase via online and through social media utrea h Vehiclo: Due to Covid restn"ctions, the Museum Outreach Vehic58 remained in storage during the first six months of the year. The volunteers will commence planning for events and actsVitS in 2022. Their promotional activity is wamily appreciated and greatly enhances the museum. raises the profile. creates awareness and encourages footfall to our exhibition. We hope this outreach activty will recornmence 500n. and the vehicle an be used to its fvll potenbal and inspire visitors to the Swe Museum.
THE SIEGE MUSEUM LIMITED IA COMPANY LIMITED BY GUARANTEE) REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 (CONTINUED) Flnanclal Revlew The Trustees have managed to secure funding from Derry City and Strabane Distri Council, Herilage Lottery FurKI and the Department of Foreign Affairs 2nd Trade,. Reconciliation Fund during the y8ar. The charity has made a surplus of £10,174 for the year. of which £5,143 relates to unreslrided fvnds. While the income from tours and sales of memorabilia has not retumed to pre pandemic levels due lo closu$ during the year Ihe Museum has received governrnent fvnding which has assisted wrth continued running costs. The Museum has also tsken advants9e of the Job RelentK?n Scheme in order to retain ils full time employee during periods of dosure. The restricted inrne received from funders varies from year to year depending on the projects teing funded and as a consequence costs specific lo projects vary accordingly. Restricted funds at the year end are £31,547. The support costs attributed to the running of the museum are at a similar level to the previous year and the trustees are satisfied the financial result given the challenges faced. Pri al Fundin Sources The chanty continues lo rety principally upon grant funding and contributions made f¢y Ihe provision of tours. Investment olic Aside from retaining a prudent amount of Teserves each year most of the charity's funds are to be spent in the short tem so there are few funds for long term investment. Reserves Poli The Trustees have examined the charity's requirements for reserves in IvJhl of the Tnain risks to the organisalion. The reserves are reqLFired lo meel the working capital requirements of the charity- The long tenn strategy is lo build reserves through planned operating surpluses. Plans for the future The chanty plans to Contrnue th the provisb)n of the existing range of facililies and projects, set out above, in forthcoming year5, subject to the provision of relevant funding. Stru¢turg gov•manco and manag¢m¢nt Govemin document The organisation is a charitable ¢ompany limtted by guarantee incorporated on 7 January 2003 and istered as a Charity wtth Ihe Charity Commission for Northern Ireland and HM Revenue & Customs. The company wa5 established under a Memorandum of Associakn'on and is govemed by ils Articles of Association. Memberfs liabilty in the event of the Company being wound up is limiled to £1.
THE SIEGE MUSEUM LIMITED {A COMPANY LIMITED BY GUARANTEE) REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 20211CONTINUED) Recruitmen nl of man ernenl commTttee The directors of the company are also charty truslees for the purposes of Charity Law. Under the requirements of the Memorandum and Articles of Association direclors are elected at an Annual General Meeting from amongst those persons nominated by the Ordinary Members. The directors have the power at any lime lo appoint any person to be a director, either to fill a casual vacancy or as an addthon to the existing directors. Any director so appointed serves only until the next Annual General Meeting at which directors a to be elected and are then eligible for 'On. A retiring director is eligible for re*lion. Rosponslbllitles ol the Board of Tnwtgeo Company law requires Ihe Trustees lo ppa finanoal slatements for each financial year which give a true and fair view of the slate of the affairs of the charitable company as al the balan¢e sheet date and of its incoming resources and application of SourCes. including incorne and expenditure, for the financk41 year. In preparing those financial statements, the management committee should follow best pract and.. select suitable accounting policies and Ihen apply them consistently.. observe the methods and principles in the Charities SORP., rnake judgements and estimates that are reasonable and prLTrdent,' and stale whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the ffinancial statements." and prepare the financial ststements on the going ¢oncem basis unless rt 1$ not appropnate to assume that the Company will ¢ontinue on that basis. The Trustees are responsible for maintaining proper accounting records which dtsclose with reasonable accuracy at any time the financial position of the charitable company and to enable them lo ensure that the financial stalements comply with the compan Act 20C6. The Trustees are also responsible for safeguarding the assets of the charitsble company and hen for tsking reasonabbe steps for the prevention and detection of fraud and other irregularities. This report has been prepared in actordance with the Statement of Recommended Practice applicable to charities pparing their a¢¢ounl$ in ac¢ordan¢e wth the Finanaal Reporty"ng Stsndard appli¢able in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 and in accordance wth the special provisions of Part 15 of the Companies Act 2006 relating lo small entrÉles. Approved by the Board of Trustees onAIJI IL and signed on rts behalf by". Mr Wllllam Moore Trustee Mr Worthlngton McGrdth Secretary
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) Independent Examiner's Report to tho members of The Siege Museum Limited on the unauditsd financial statsments for the year ended 31 December 2021 We report on the financial statements of The Siege Museum Limtted for the year ended 31 December 2021 which comprise the Statement of Financial Actrvities (including Income and ExFenditure Accounti, the Balance Sheet and the related notes. These financial statements have been pPared under the historical cost convenb'on and the accounting policies set out on pages 11 to 13. Respecllve respon51bllltles of the charity trustees and the Independent Examlnor As the charity's Iruslees land also dire¢lors of the company for the purposes of company lawl you are responsible for the preparation of the a¢¢ounts in accordance wth the requirements of the Companies Act 2006. Having satisfied oUrSee$ Ihat the ¢harty is not subject to audit under company law, and is elvJible for independent examination, it is our responsibility to. examine the accounts under seth.on 65 of the Charities Act follow the pro¢edures laid down in the general Directions given by the Chartty Commission for Northem Ireland under section 6519)(bl of the Chariti'es Act stste whether particular rnatters have come to our attention. Basls of Independent Examln•V8 Report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under seth'on 6519llbl of the Charities Act. The examination included a review of the accounting recofds kept by the charity and a 1mparISOn of Ihe accounts presented with those records. 11 also included considerats'on of any unusual ilems or disclosures in the accounts, and seeking explanation from you as Charity trustees conceming any such matters. Our roFe is lo slate whethw any material matter5 have come to our attention giving us Cause to believe: 1. That accounting records were rt kept in accordance with section 386 of the Companie5 Act 20C6. 2. That the accounts do not accord with those accounting records. 3. That the accounts do not Comply with the ac¢ounting requirements of section 396 of the Companies Acl 2006 and wth the methods and prinryples of the Charit5 Ststement of Recommended Practice applicable lo charitie5 preparing Iheir accounts in a¢¢ordan¢e with the Financial Rewrting Standard appliGable in the UK and Republic of Ireland. 4. Thal there is further information needed for a proper understanding of the a¢counts lo be reached. Independent ExamIn•9 Ststem•nt We have completed our examination and have no concerns in pect of the matters111 to (4) listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, we have found no matters that require drawing to your ailentson. I mAiCH IOIL Mccartney & Co Chartered Accountants Grove House 27 Hawkin Street Londondery BT48 6RE
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Currenl financial year Unrnstrithd Rostricted Funds Funds 2021 2021 Total Funds 2021 Total Funds 2020 Not•s Incom? and endowments from: Donations and legacies Income from chanlable actiwt 1,996 68,162 1,996 113.377 5,800 116,541 45.215 Totsl In¢om• 70,158 45.215 115,373 122,341 Expendlture: Expenditure on chantable actNiti"es 66.080 39,119 105.199 94,847 Total expenditure 66,080 39.119 105,199 94,847 Net Incomellgxpendlture 4.078 6.096 10,174 27,494 Transfer5 betsveen funds 1.Cfj5 (1.0651 Net movements in funds 5.143 5.031 10.174 27,494 Reconclllatlon of funds Total funds brought forward 197.707 26,516 224.223 196,729 Totsl funds ¢arri•d forward The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended dertve from conb"nuing a¢tivitts. The statement of financial act'eS also ¢tynplies wrth the requirements for an income and expenditure account under the Companies Act 2006.
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Prlor flnan¢lal y•ar Unrnstrlcted Restrfcted Funds Funds 2020 2020 Tolal Funds 2020 Notes Ineome and endowments from: Donations and legacies Income frtyn charitable aCtivitS 5.800 67.701 5.800 116.541 48,840 Total Incom& 73.501 48,840 122,341 Expendlture: Expenditure on Charitsb actwit 59.583 35,264 94,847 Total expendlture 59,583 35,264 94.847 Net In¢omellexpendtture) 13.918 13,57e 27,494 Transfers between funds 56.414 {56,414} Nel movements in fvrK15 70.332 142,838) 27,494 Reconciliation of funds Totsl funds brought fofward 127.375 69,354 196.729 Total funds Carrled forw•rd The stalement of finanal activities indudes all gains and losses in the year. All incoming resources and resources expended derive frcffi continuing ath"wtie$. The statement of financlal actiVTbes also Complies wrth the requirements for an income and expenditure account under the Companies Act 2006.
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Noles Fixed assets 93,293 103,119 C¢nt a88ets stock Debtors Cash at bank and in hand 13,681 1,792 15.579 3.769 161,509 142,202 Credltorn: amounts falllng due wlthln one year 10 21098 Net current assets 121 104 Total a86ets le88 ¢uffent Ilabllltles 11 234,397 224,223 R6sep48S Unrgstrlcled lunds: General unrestricted funds Designated funds Restrlcted funds 12 200.636 194,889 202,850 197,707 234,397 224,223 For the finanaal year ended 31 Decemter 2021, the company was entitled to exemptDn under section 477 of the Companies Act 2006 relating to small companies. The rneMbe have nol required the company to obtain an audit of its acUnts for the year in quesb'on in accordance wth sect 476. The directors ad(nowledge their responsibilib.es for ensunng that the company keeps accounting records which comply with section 386 of the Companies Act 2006 and for preparing financial statements which give a true and fair view of the stale of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the cpanieS Act 2IXIS relab.ng lo )unts. so far as applicable to the company. These accounts have been prepared in accordance wth the proVlOn$ applicable to companies subject to the small ¢ompanies' regime. The accounts were approved and authorised for issue by the Board of Trustees on I InAiCH Ioil and signed on their behalf by: MrWllll•m Moore Trustee Mr Worthlngton McGrath Secretary Cornpanles Reglstralion No. N1045100 io
THE SIEGE MUSEUM LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcl The financial statements are prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151- Icharslies SORP IFRS 102}I, the Financral ReF4)rting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. The financial statements are prepared in sterfing, which is Ihe functional currency of the company. Monetary amounts in these financial statements are rounded to the nea$1 £. The following are the main accounting polries. The accounling p)licies have been applied ¢onsislenlly throughout the year. (•) Basis of accounllng and assossment of going con¢•m The accounts have been prepared under the historical cost convenb'on. The Siege Museum Limited meets the definition of a public benefrt enbty under FRS 102. During the earfy months of 2021 the Museum eXperiend a prolonged perth of enforced dosure due to the Covid 19 pandemic. This has had a signifitsnt impact on the income generated from tours of the MLtseum and also from the sales of memorabilia_ Govemmenl 5UPPOrt funding for businesses mandated to close has provided vital funds to enable the Museum to continue lo meet ils ongoing running costs and the Job Retenb"on S¢hemo has enabled the Museum to retain their full time employee. On the basis of this and the existing reserrfes of the Museum. the Trustee$ are satr'sfied with the Museum's abilty to ¢onb"nue to operate. Al the time of approving the ffinancial ststements, the Twstees have a w$onable expectation that the Museum has adequate resourtss to continue in operatK*nal existence for the foreseeab5e future, Thus the Trustees contsnue to ¢)p1 the gryng concem basts of accounbng in pparIng the financial statements. The charity has taken advantage of the exemption in FRS 102 from the qU1ment to produce cash flow statement as the company qualifies as a small company. Ib) Fund accounting Unrestricted funds are donations and other incorne receNed or generated which a expendable at the discretion of the Iruslees in furtherance of the general objectives of the charity. Designated fvnds a Un$trthd funds earmarked by the Management Committee for particular purposes. Restrrted fvnds are subjected to restn"¢tions on their expenditure imposed by the donor. {c} Incom• T•cognition All incoming resources a included in the statement of financial activities when the charity is entitled lo the income and the amount can be quantified wrth reasonable accuracy. The following specrfic policies are applied to particular ¢ategories of income.
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Voluntary income is received by way of grants and donations and is induded in full in the ststement of Financial Activitses when receivable. Grants. where entrllement is not conditional on the delivery of a specific perfomiance by the charity, are recognised when the charity becomes unconditionally entitied lo the grant Incoming resources from grants, where related to perfomance and specific deliverables, are accounted for as the charity eams the right lo considerabon by ils performance. Donated services and facilities are included at the value to the charity where this can be quantified. In accordance wlh Charities SORP IFRS 1021. general volunteer time is not recognised. Idl Expondlturo rn¢ognltlon Expendtture is recognised on an accrual basis as a 14?bilty is incurred and is cL?ssrfd under headings that aggregate all costs related lo the category. Expenditure on charitable activities a Costs incurred on the companys charitable operats'ons including support costs and costs lab"ng to the govemance of the company apwrtioned to charitable activities. lel Value Added Tax Irrecoverable VAT is charged against the expenditu heading for which it was incurred. lfj Grnnts Revenue grants are credited lo income on the earfier date of when they are reNed of en they are re¢etvable. unless they relate to a specified future per, in which case they are deferred. Grants for the pU)se of capital expendf(ure are crediled to restricted income when re1Vable, transferred to restrted funds on the purchase of the asset and then released lo unreslricled funds over the rel*ed asseV$ useful lrfe. Igl Tangible flxed assets and deprnciatlon Tangible fixed assets are stated at cost le55 depreryab'on. Depreciation provided at rates Cakulated to write off the c05t le55 estimated residual value of each asset over ils expected useful lrfe, as follows.. Leasehold improvemenls Office fixtu and fftbngs Computer equipment Motor vehicles 2°h straight line 20% straight line 25¥4 $traight line 20% straight line Heritage assets are initially recorded at cost. No depreaation is provided as they are considered to have indefinite INes but they are reviewed for impaimient due to damage or deterioration al each reporting date. (h) Debtor8 Debtors and accrued income are recognised at the settlement amount due after any discount offered. Prepayments are valued al the amount prepaKI net of any discounts due. 12
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 li) Cash at bank and in hand Cash al bank and cash in hand includes cash and short tenn highly liquTrd investrnents wlh a short maturity of three rnthS or less from the date of acquisf(ion or opening of the deposit or similar account. Ul Credltors and provlslons Creditors and provisions are recognised where the charity has a psent obligation resulting from a past event that will probably result in the transfer of fvnds to a third party and the amount due to sethe the oblmjat'on can be rneasu or esbmated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Ikl Judgemonts and key sources of estlmate uncertalnty There are no items of uncertainty requiring the exerase of jLHJ9emenL 111 Flnanclal Instruments The chanty only has bas financial assets and financial liabilitses of a kind that qualify as basic financial instruments. Basic finan¢BI instruments are inib.ally recognised al transaclK)n value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amorb'sed cost using the effectNe interest method. Im) Pen8ion8 Ernployees of the chanty are entle to join a defined contribution scheme. There were no outstanding contn'butsons al the year end. The costs of the defined contribution scheme are charged to the unrestricted fvnds of the charity. The charity has no liability beyond making its contn"buts'ons and paying across the deductions for the employees. conlribulions. In} Ernployee beneflts The cost of any unused holiday entitlement is rewgnised in the period in which the employee'5 service5 are rKeived. 2. Income from charltable acllvltles- current year Unrestrlcted Restricted Totsl 2021 Total 2020 Incomo from tours In¢omo from sales of m•morabllla Funding: Derry City and Strabane Distrb¢t Council Heritage Lottery Fund Urban Village 1nitiakn.ve Peace 1V Department of Foreign Affairs and Trade., Reconciliatson Fund other incomo: Covid sUPPOrts Other income 13,803 16.713 13,803 16,713 8,534 7,654 19,565 19,565 26,073 10,000 1,040 10,CWJO 1.040 9,200 2,500 11,067 14.610 14,610 37,646 37,646 51,513 162 11 116541 13
THE SIEGE MUSEUM LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Income from charttabb athiti•s- prior year Unrestrlcied Rostri¢t•d Total 2020 Incomo from tours Incomo from tour8 Offlce Income from sales of memrabllla Fundlng: Dery City and Strabane Distr Council Heritage Lottery Fund Peace 1V Department of Foreign Affairs and Trade,. Reconciliation Fund Other Income: Covid supports 8,534 8,534 Execullve 7,654 7,654 26,073 26.073 9.200 2,500 11,067 9,200 2,500 11,067 51.513 51,513 Ch•ritabl¥ Activitles Expendlturo- ¢urr•nt year Unrnstrict R•¥trl¢tod Total 2021 Tolal 2020 Costs dSrecly allocat•d to aelivitie Stsff ¢05ts Recruitment fee Memorabilia purchases oUt8¢h costs Exhibition costs Project Management 22,824 9,731 32,SS5 33,214 10,023 10,023 13,062 17,902 4,808 5,571 1,763 12.222 10,767 7.135 Support costs alla¢atsd to aetlvld•• Premises Insurance Advertising Printing, stationery. postage & phone Motor expenses Travel and subsislen¢e Bank charges Subs¢ription$ Legal & Professional Sundry expenses Depreciation 5.190 123) 1.535 3.914 490 150 1.238 310 595 425 10,714 5,190 4,115 1,535 4,237 490 150 1,238 310 595 425 12,652 5.065 4,066 426 3.339 200 4,138 323 1,212 100 9,773 514 23,836 1.938 Gov8mancg costs Legal & Professional Accountancy fees 360 600 720 72 105 199 14
THE SIEGE MUSEUM LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charitable Actlvttles Expendlture - prlor year Unr•stricted Restrlcled Total 2020 Costs dlrnetly allo¢at tt> ¥cfjvlUeB Staff costs Recruitrnenl fee Mernorabilia purchases Outreach costs Exhibition costs Project Managemenl 25.564 7.650 33,214 4.808 378 1,763 4,808 5,571 1,763 5.193 Support costs allocatsd to a¢fj*AI¢s Premises Insurance Advertising Printing, statrtery, postage & phone Motor expenses Tovel and subsistence Bank charges Subscriptions Legal & Professional Sundry expenses Depreciation 4.599 4.066 5,065 4,066 426 3,339 200 426 2,436 200 903 1.212 100 1.212 100 9.773 514 23,836 9.773 514 20,756 3,080 Go¥ern•nce ¢osts Legal & Professional Accountancy fees 360 600 59 583 360 600 35 264 2021 2020 4. Net In¢omlngl(outgoing) resources for year This is staled after charging-. Depreciation 12,652 23,836 S. Staff costs and staff numbe 2021 2020 Salaries and wages Pension costs 31,936 32,650 619 564 32 555 AL14 No employee received emoluments of more than £60,OLNJ. The average number of employees during Ihe year on a full time equivalent basi% was_. 2021 2020 A¢tivrties The Charty operates a defined contribution pensK)n scheme for its employees. 15
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 6. Trustee Remuneratlon ond Rfrlat•d Party Transactlons No trustees recewed any remuneration for services as members of the Board of Trustees. One tTUStee, Mr W Moore, received payments totslling £1.200 {2020'. £NIL} for services for facilitation of agreed accommodations. Another trustee, Mr J Brownlee received £NIL 12020.. £150) in volunteer expenses. Mr R Mccausland ceiVed £NIL 12020.. £5101 for work done assisting with implementing Covid restrictions following reopening. No other trustee or other person related to the Charity had any personal interest in any contract or transacknon entered into by the Charity during the year12020". Nill. 7. Taxatlon As a charity, The Siege Museum Limited is exempt from tax on income and gains falling wrthin Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax Charges have arisen in the Charty. 8. Tanglble Assets Lgasehold Improvements Flxtures and Flttlngs Herltage assets Offlce and eornputer equlpment Motor vehl¢le$ Total Cost At 1 January 2021 Additions 77,979 60.346 2,826 12.000 20,922 68,685 239.932 2,826 At 31 Decemter 2021 77,979 63,172 12.000 20,922 68.685 242.758 Deprgclatlon At 1 January 2021 Charge for year 9,932 1.559 40.514 8.302 20,922 65,445 2,791 136,813 12,652 Al 31 December 2021 11,491 48,816 20.922 68,236 149,465 Net Book valu• Al 31 December 2021 At 31 December 2020 Herilage assets relate to a ¢olle¢tion of deathaled weaponry and memorabilia dating to the 36 Ulster Division and the earty formation of the Ulster Volunteer Force in 1913. This collection is included at cost in the financial statements. DepreCiatn is not provided as it is consKlered to have an indefinite life. However, it is reviewed for impairment due to damage or delerioratK*n at e¥h reporting date. other collectsons on display in the Sie9e Museum are on loan from the Trustees of the Apprentice Boys Memorial Hall and are thef0ft not induded in the financial statements. 16
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 9. Debtor4 2021 2020 Grants due from funders Prepayments 1.792 3,769 10. Credltorn f•lllng due withln ono year 2021 2020 Other creditors 20,405 21,098 11. Analysis of not assets between funds- current yfrar Unr•strlcled Restrlctod Funds Funds Total Funds Fixed assets 76,356 16,937 93.293 Current assets 127,946 33,563 161,509 Current liabilit'es 11,4521 118,9531 120,4051 Nel Assets as at 31 December 2021 202,850 31,547 234,397 Prior y•ar Unmtricted Rutrl¢ted Funds Funds Total Fund¥ Fixed assets 85.930 17,189 103,119 Current assets 113.922 28,280 142,202 Current liabililies {2.1451 118,9531 121,0981 Nel Assets as at 31 December 2020 197.707 26,516 224.223 17
THE SIEGE MUSEUM LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 12. Movem•nts In fund8 At1J•n Incomlng 2021 Resources Outgolng Transfvrs At 31 Dec R•8ourcgS 2021 Unreslricled funds.. General fund Designated fvnds 194,889 69.968 190 165.2861 794 1.C65 200.636 197 707 202 850 Restricted funds". Heritsge Lottery FurKI Derry City & Slrabane District Council Department of Foreign Affairs and Trade., Reconciliation Fund Peace 1V Urban Village Inits'ative 10.000 19.565 110.002} 119,4171 15.189 15,437 9.327 14.610 {8,1601 {1,167} 14,610 2.000 15001 1,500 Total Funds 224.223 115.373 (105,1991 234,397 Mov•monts in fvnds- previous year At1Jan Incoming 2020 Resources Outgoing Tr•nsfern At 31 De ROurCeS 2020 Unrestricted funds.. General fund Designaled funds 124,207 3168 127 375 73,501 (59.2331 350 56,414 194,889 56414 197 707 Restricted funds.. Heritage Lottery Fund Derry City & Strabane District Coun¢il Department of Foreign Affairs Peace 1V Fixed Assets 9.200 26.073 (9,2491 {12,7301 49 1,812 15,189 9.179 11.067 {10.9191 9,327 2.500 (5001 2,000 Total Funds 196,729 96,003 194.847) 224,223 Purposes of Unrestrlcted Funds The unrestricted funds wll be used for running costs for which no other funding is received. The designated fund is money which ha5 been sel asKle for the upkeep and maintenance of the outreach vehicle. Pury>o$ of Rostricted Funds Restricted funds of £14,610 relate to funding recerved from the Department of FOign Affairs and Trade Reconciliation Fund which wll be spent in 2022. The remainder of the restricted fvnds relate to fixed assets. 18
THE SIEGE MUSEUM LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 14. Leg•1 $tatu$ of th• Charity The Siege Museum Limrted is a company limrted by guarantee and accordingly does not have a share ¢apilal. The cornpany is dornled and incorporated in Northem Ireland. The registe office is Apprenb"ce Boys Memorial Hall, Swety Street, Londondery, BT48 6PJ. 15. Commllm•nts The company had not entered into any finanaal or caprtal commrtments at year end. 19