REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
DOVER TRANSPORT MUSEUM SOCIETY |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
DOVER TRANSPORT MUSEUM SOCIETY |
(A COMPANY LIMITED BY GUARANTEE) |
DOVER TRANSPORT MUSEUM SOCIETY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 16 |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 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 31 December 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). |
OBJECTIVES AND ACTIVITIES |
a. Policies and objectives |
The Charity's objects continue to be the promotion and furtherance of education and knowledge of transport history and to establish, administer and maintain a museum for such purposes. |
There are no paid or full-time staff but the Trustees meet regularly to manage the museum's affairs. |
In setting objectives and planning for activities, the Trustees have given consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. |
b. Volunteers |
Active volunteer engagement is the essential factor in the ongoing success of the museum. There are currently circa 75 active volunteers with a total paid up membership of 160+. Each year sees a number of volunteers leave and new members recruited and 2023 has been no exception. New Trustees were recruited during the year when Pete Wright and Brian Flood returned to the trustee group with Phil Letchford, Clive Taylor and Sue Overall also joining. Our long standing Chairman, Dave Atkins stood down after 30 years at the helm and Brian Flood was elected Chairman. Dave continues as a member of the trustee committee. |
Total number of volunteer hours worked in 2023, 15,120. |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Review of activities |
As can be seen in the accounts, the year 2023 delivered a healthy financial surplus which reflects the museums success in attracting increasing numbers of visitors. Visitor numbers in the year were over 40% up versus 2022; a tribute to the hard work of all the volunteers involved in delivering a positive visitor experience. |
The reintroduction during the year of a regular and consistent catering offer has been a major step forward. Visitors rightly expect catering services at venues such as the museum and the revenue that accrues from this activity is an essential element in our success. |
The first floor office accommodation was completed and occupied during the year enabling preliminary works to start on expanding display space. |
Significant additions to the collection in the year included the Morris Minor Post Office van, the Austin A40 Farina (donated by Brian Flood), 2 very different BSA Bantams and 4 mopeds. A number of model boats came our way and all are on display; the pick of these being the 'X' craft submarine model. A wide range of other artefacts continue to be offered by the public and businesses as donations or loan items including for 2023, significant numbers of photographic equipment and the Hitachi model of the locally operated 'Javelin' train. Available exhibition and storage space remains a significant influencing factor when considering additional items for the collection. |
The now traditional events programme was staged at the museum including Drive it Day, the Classic Car Show, the Model Weekend and the Classic Motorcycle Show. This programme was complemented with a number of single marque days including the Triumph Day, which were run alongside normal open days on a Sunday. This proved to be highly successful in attracting both exhibitors and visitors. |
External events attended during the year included The Heritage Show at Detling, East Kent Ploughing Match, Lord of Lydden, Heritage Sprint, River Fete and the Old Timers Rally, Folkestone. Each of these offered opportunity to raise awareness of the museum and to raise funds through the selling of raffle tickets. |
Total visitors to the museum in the year, 9042. |
FINANCIAL REVIEW |
a. Going concern |
Reserves at year end were sufficient for the Trustees to have a reasonable expectation that the Charity would continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. |
b. Reserves policy |
The museum estate is large and consists of old military buildings for which the provision of maintenance funds is a constant challenge but owning the freehold of the property enables us to be confident in the security of our continuing investment in the infrastructure. However, notwithstanding this advantageous position the Trustees consider that maintaining a proportion of income to reserves is essential for prudent financial management and have agreed to retain the reserves policy introduced for prior years. The financial position is reviewed by the Governing Committee on a regular basis and funds are committed to reserves in line with this policy. |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
a. Constitution |
Dover Transport Museum Society is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. It is a registered charity number 289484. |
b. Methods of appointment or election of Trustees |
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association and the Rules of the Dover Transport Museum Society. The appointment of new Trustees of the society is ordinarily made at the AGM. Each year three of the committee of Trustees of the museum according to the rules of the Society must stand down. They can choose to stand for re-election at this time and applications from other members of the Society who may wish to stand are also accepted. |
All members wishing to stand or re-stand must inform the committee of their intention in writing along with a seconder from the membership at least one full week before the published date of the AGM. If there are more people standing than there are places available, a ballot of the membership is held at the AGM with proxy voting slips available for members unable to attend if requested. |
c. Financial risk management |
The Trustees have assessed the major risks to which the Charity is exposed; particularly those related to the operations and finances of the Charity and are satisfied that adequate systems and procedures are in place to mitigate any exposure. |
Plans for future periods |
The principal aims for 2024 are to secure improvements to the estate, the collection and the financial performance of the museum as well as progressing the development of key projects identified as essential to the future of the museum and its mission. |
- To provide suitable and appropriate accommodation for the unique and nationally important Norman Collection. |
- To house an expected donation of 2 important bus exhibits |
- To fulfil an obligation to lay a section of Dover's tram track |
- To develop a suitable celebration of Dover's history of car and train ferries |
Essential to all these aims will be the effort to increase volunteer numbers, enhance staff training, development and management and to further enrich the visitor experience by continuing to sustain our improved catering capacity. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Trustees |
D Atkins (Resigned as Chairman 27 September 2023) |
B Flood MBE QPM (Elected Chairman 27 September 2023) |
Rev'd J Lines MBE |
E Woodruff |
E Dixon |
W D Poulter |
D J Brazier (Resigned 11 August 2023) |
A Cousins (Resigned 6 June 2023) |
R J Preece |
S J Agg |
P J Letchford (appointed 7 September 2023) |
P Wright (appointed 15 June 2023) |
Independent Examiner |
Cassidys Chartered Accountants |
South Stour Offices |
Roman Road |
Mersham |
Ashford |
Kent |
TN25 7HS |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
DOVER TRANSPORT MUSEUM SOCIETY |
Independent examiner's report to the trustees of Dover Transport Museum Society ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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. |
S G Whorlow |
Cassidys Chartered Accountants |
South Stour Offices |
Roman Road |
Mersham |
Ashford |
Kent |
TN25 7HS |
17 September 2024 |
DOVER TRANSPORT MUSEUM SOCIETY |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Raffle | 3,572 | - | 3,572 | 711 |
Misc Income | 6,109 | - | 6,109 | 2,024 |
Events | 6,752 | - | 6,752 | 3,952 |
General | 242 | - | 242 | 185 |
Total |
EXPENDITURE ON |
Charitable activities |
Raffle | 1,859 | - | 1,859 | 1,604 |
Events | 272 | - | 272 | 14,074 |
General | 58,703 | 321 | 59,024 | 41,646 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 510,870 |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 509,928 |
Restricted funds | 942 |
TOTAL FUNDS | 510,870 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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. |
DOVER TRANSPORT MUSEUM SOCIETY (REGISTERED NUMBER: 01690404) |
BALANCE SHEET - continued |
31 DECEMBER 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 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 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. |
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
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. |
All expenditure is inclusive of irrecoverable VAT. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
During the year, no Trustees received any remuneration or other benefits (2022: £Nil). |
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022: £Nil). |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Raffle | 711 | - | 711 |
Misc Income | 2,024 | - | 2,024 |
Events | 3,952 | - | 3,952 |
General | 185 | - | 185 |
Total |
EXPENDITURE ON |
Charitable activities |
Raffle | 1,604 | - | 1,604 |
Events | 14,074 | - | 14,074 |
General | 40,287 | 1,359 | 41,646 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 501,566 | 2,301 |
TOTAL FUNDS CARRIED FORWARD | 509,928 | 942 | 510,870 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Included in land and buildings is freehold land at a cost of £360,012 (2022 - £360,012) which is not depreciated. The Trustees consider the value of freehold property to be approximately £1.4m, but no revaluation has been implemented. For this reason, depreciation is considered inappropriate. |
6. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Prepayments |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
9. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 489,619 | - | 489,619 | 478,970 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
539,253 | 621 | 539,874 | 510,870 |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 509,928 | 29,325 | 539,253 |
Restricted funds |
Kent County Council - Security | 942 | (321 | ) | 621 |
TOTAL FUNDS | 29,004 | 539,874 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 110,037 | (80,712 | ) | 29,325 |
Restricted funds |
Kent County Council - Security | - | (321 | ) | (321 | ) |
TOTAL FUNDS | ( |
) | 29,004 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 501,566 | 8,362 | 509,928 |
Restricted funds |
Kent County Council - Security | 1,386 | (444 | ) | 942 |
Kent Council Council Combined Members Grant |
915 |
(915 |
) |
- |
2,301 | (1,359 | ) | 942 |
TOTAL FUNDS | 503,867 | 7,003 | 510,870 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 73,480 | (65,118 | ) | 8,362 |
Restricted funds |
Kent County Council - Security | - | (444 | ) | (444 | ) |
Kent Council Council Combined Members Grant |
- |
(915 |
) |
(915 |
) |
- | (1,359 | ) | (1,359 | ) |
TOTAL FUNDS | 73,480 | (66,477 | ) | 7,003 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 501,566 | 37,687 | 539,253 |
Restricted funds |
Kent County Council - Security | 1,386 | (765 | ) | 621 |
Kent Council Council Combined Members Grant |
915 |
(915 |
) |
- |
2,301 | (1,680 | ) | 621 |
TOTAL FUNDS | 503,867 | 36,007 | 539,874 |
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 | 183,517 | (145,830 | ) | 37,687 |
Restricted funds |
Kent County Council - Security | - | (765 | ) | (765 | ) |
Kent Council Council Combined Members Grant |
- |
(915 |
) |
(915 |
) |
- | (1,680 | ) | (1,680 | ) |
TOTAL FUNDS | 183,517 | (147,510 | ) | 36,007 |
DOVER TRANSPORT MUSEUM SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES |