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REGISTERED COMPANY NUMBER: 10456856 (England and Wales)
REGISTERED CHARITY NUMBER: 1170965










Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Norton Collection Museum Trust

Norton Collection Museum Trust






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Report of the Trustees 1

Independent Examiner's Report 2

Statement of Financial Activities 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 10

Norton Collection Museum Trust (Registered number: 10456856)

Report of the Trustees
for the Year Ended 30 November 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

FINANCIAL REVIEW
Reserves policy
The trustees consider it necessary to maintain reserves at a level that enables the charity to meet its objectives and continue in operation. They aim to have sufficient reserves to cover the running costs of the museum for a period of at least 12 months should there be a substantial reduction in income and/or increase in expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10456856 (England and Wales)

Registered Charity number
1170965

Registered office
26 Birmingham Road
Bromsgrove
Worcestershire
B61 0DD

Trustees
Ms D Cracknell
P N Lowe
P Norton
M D Norton
D C Norton
J Truslove
K N Ward

Company Secretary
K N Ward

Independent Examiner
Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Approved by order of the board of trustees on 16 April 2024 and signed on its behalf by:




P N Lowe - Trustee

Independent Examiner's Report to the Trustees of
Norton Collection Museum Trust

Independent examiner's report to the trustees of Norton Collection Museum Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Ben Newbury FCCA

Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

16 April 2024

Norton Collection Museum Trust

Statement of Financial Activities
for the Year Ended 30 November 2023

30.11.23 30.11.22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 5,789 - 5,789 22,758

Other trading activities 2 239 - 239 6,201
Total 6,028 - 6,028 28,959

EXPENDITURE ON
Raising funds 3 6,997 - 6,997 8,051


NET INCOME/(EXPENDITURE) (969 ) - (969 ) 20,908


RECONCILIATION OF FUNDS
Total funds brought forward 187,754 - 187,754 166,846

TOTAL FUNDS CARRIED FORWARD 186,785 - 186,785 187,754

Norton Collection Museum Trust (Registered number: 10456856)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 245,419 - 245,419 245,419

CURRENT ASSETS
Debtors 7 695 - 695 605
Cash at bank 7,278 - 7,278 8,249
7,973 - 7,973 8,854

CREDITORS
Amounts falling due within one year 8 (66,607 ) - (66,607 ) (66,519 )

NET CURRENT ASSETS (58,634 ) - (58,634 ) (57,665 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

186,785

-

186,785

187,754

NET ASSETS 186,785 - 186,785 187,754
FUNDS 9
Unrestricted funds 186,785 187,754
TOTAL FUNDS 186,785 187,754

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Norton Collection Museum Trust (Registered number: 10456856)

Balance Sheet - continued
30 November 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 16 April 2024 and were signed on its behalf by:





P N Lowe - Trustee

Norton Collection Museum Trust

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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


Freehold property - No depreciation
Computer equipment - 20% on cost

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

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES
30.11.23 30.11.22
£    £   
Memorabilia sales 239 6,201


Norton Collection Museum Trust

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. RAISING FUNDS

Raising donations and legacies
30.11.23 30.11.22
£    £   
Support costs 154 8,051

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.


Trustees' expenses

Expenses totalling £41,157 (2021 - £495) were paid by Mr D Norton during the year. Included within creditors is an amount of £41,652 (2021 - £495) owing to Mr D Norton.

Expenses totalling £14,266 (2021 - £150) were paid by Mr K Ward during the year. Included within creditors is an amount of £14,416 (2021 - £150) owing to Mr K Ward.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 22,758 - 22,758

Other trading activities 6,201 - 6,201
Total 28,959 - 28,959

EXPENDITURE ON
Raising funds 8,051 - 8,051


NET INCOME 20,908 - 20,908


RECONCILIATION OF FUNDS
Total funds brought forward 166,846 - 166,846

TOTAL FUNDS CARRIED FORWARD 187,754 - 187,754


Norton Collection Museum Trust

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 December 2022 and 30 November 2023 245,419 990 246,409
DEPRECIATION
At 1 December 2022 and 30 November 2023 - 990 990
NET BOOK VALUE
At 30 November 2023 245,419 - 245,419
At 30 November 2022 245,419 - 245,419

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Prepayments 695 605

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors 66,068 66,068
Accrued expenses 539 451
66,607 66,519

9. MOVEMENT IN FUNDS
Net
At movement At
1.12.22 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 187,754 (969 ) 186,785

TOTAL FUNDS 187,754 (969 ) 186,785

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 6,028 (6,997 ) (969 )

TOTAL FUNDS 6,028 (6,997 ) (969 )


Norton Collection Museum Trust

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At movement At
1.12.21 in funds 30.11.22
£    £    £   
Unrestricted funds
General fund 166,846 20,908 187,754

TOTAL FUNDS 166,846 20,908 187,754

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 28,959 (8,051 ) 20,908

TOTAL FUNDS 28,959 (8,051 ) 20,908

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

Net
At movement At
1.12.21 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 166,846 19,939 186,785

TOTAL FUNDS 166,846 19,939 186,785

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 34,987 (15,048 ) 19,939

TOTAL FUNDS 34,987 (15,048 ) 19,939


Norton Collection Museum Trust

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 November 2023.