REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
BEXHILL MUSEUM |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
BEXHILL MUSEUM |
(A COMPANY LIMITED BY GUARANTEE) |
BEXHILL MUSEUM |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 20 |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
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 31st March 2024. 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 |
Objectives and aims |
The stated objectives of the charity are to provide a museum in order to promote, maintain, improve and advance the education of the public for their benefit, particularly by the presentation of exhibitions, lectures and other means of study relating to the display of local history, archaeology, history of costume, technology and engineering, the arts, ethnography, geology and social history. |
Public benefit |
The Trustees have confirmed that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit and in their opinion the foregoing report on the achievements and performance demonstrates that they have complied therewith. |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
This year we have had some excellent additions to the collection including a Viking sword & axe donated to the museum, The sword was given over to a professional conservator before being put on display. These were very significant finds, and we must thank the landowners, the Finds Liaison Officer and the Heritage & Wildlife Crime Officer for making this possible. Also, some historic swords, knives and a pistol were donated by Sussex Police. |
Some of the artefacts recovered from the wreck of the 17th century Dutch warship Klein Hollandia went on display. We hope more artefacts will be delivered in the future. A popular exhibition entitled 'Hats, Hats, Hats' opened in partnership with Dr Ruth Cereceda & Carolyn Kane from Bader College in Herstmonceux. |
As always, our groups of collections volunteers have been working away adding new donations to the collection, checking the records on the database and developing new displays and exhibitions. |
A team from Southampton University examined some of our collections of dinosaur teeth. Exciting results are expected when the paper is published. Falconbury School Old Boys visited in October 2023. Many of the group recognised their younger selves from photos in the archive. A group examined the St Vincent Papers in November 2023. It was a privilege to show a resident of St Vincent these important and emotive documents about the slave trade. |
The popular More4 TV show 'Small Trains & Big Names' featured the Bexhill 1940 Winter Wartime Model Railway, with host Pete Waterman, museum patron Suzy Izzard and the model railway team. The Catsfield Hoard, which includes middle bronze age palstaves and the remains of two rare Sussex Loops were photographed and studied by Jamie Kaminski, editor of the Sussex Archaeological Collections journal. |
The Education Group hosted 56 school visits from 29 different local schools during term time, including a few bespoke sessions based on themes chosen by the school. Accompanied by around 200 teachers, the visits brought 1,554 children and young people to the museum, of which 85% came from state, church or local academy run schools. |
We also provided support for special needs pupil groups, and 13 travel bursaries to ease the cost of coach hire for schools. |
The fundraising team led by trustee Peggy Goodberry had a particularly good year, bringing in £12,727 during 2023-24 - an amazing 45% increase on the year before thanks to a well organised and attended stream of events, walks and talks. |
The hard-working Visitor Services and Events teams added more evening visits by youth groups such as the Cubs, Brownies, Beavers and Rainbows, and coped admirably with large groups, including a party of 100 students from Germany. The Events team also ran stalls at town events of all sizes such as Bexhill 100 and Bexhill Carnival. |
Thanks again to our volunteers, the museum was again able to open from Boxing Day to New Year's Day. Largely due to their year-round efforts the Museum was awarded a Trip Advisor 'Traveller's Choice Award' for the second year running. This means the museum is in the top ten percent of venues by number of positive reviews on the site. |
Finally, we record the sad passing of much-loved volunteers and members during the year. Philip Plummer joined in 2007 and worked on the indexing of the archives. Peter Carey worked on special exhibitions until about 2000 and was a regular attendee at the museum lectures until his passing. Lorna Extence was a long-standing member and a diligent participant in our annual general meetings over several years. Both Lorna and Peter were kind enough to remember the Museum in their wills. All will be much missed. |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FINANCIAL REVIEW |
Financial position |
The strategy outlined by the Forward Plan aims for self-sufficiency - ensuring that trading income & volunteer raised funds cover operational expenses. This will help volunteers to meet the expectations of all our audiences, six days a week, to the highest possible standards. |
Both unrestricted income and expenses, left, are ringfenced. Ringfenced 'unrestricted' income came to £93,786 in 2023-24, up from £81,911 in 2022-23 - primarily thanks to higher visitor numbers and excellent volunteer fundraising results - leaving a surplus of £5,213 despite an increase of £2,552 in expenditures to £88,573 over 2023-24. |
The rise in income was boosted by an admission price increase, raising ticket income to £37,153 from £26,197 the year before, separately backed up by effective volunteer fundraising. Ringfenced unrestricted cash in hand totalled £36,838 at end 2023-24, a bulwark against which extra core expenses may be considered in 2024-25, such as staff hires, or to cover unexpected costs following planned changes to our electricity supplies in 2024. |
Everything else - from new roofing and display cases to special exhibitions and special events for young and old, able bodied or otherwise - must be raised from outside donors and various funding bodies. These 'restricted' funds allow expansion and improvement of collections management, care, display and use for audience growth, via a portfolio of carefully designed time-limited projects - without drawing from museum resources put aside for its core operations. |
Away from core expenses, there were unexpected off-budget expenses for extra survey & design work for next year's capital project. A fall in restricted income from project activities, plus fewer legacies, meant that combined restricted & unrestricted income fell by £15,881 to £110,658. |
Throughout the year, Bexhill Museum' restricted fundraising strategy focused on raising the £500k needed for urgent renovation works on the roof and the basement. This was achieved, but the confirmed cash did not arrive until after the year's end, so next year's figures will look very different to this year's. |
The planned works aim to add two extra project activity spaces to the museum which will substantially increase opportunities to plan, fund and implement new museum collection-based project activities, bringing in new resources, new income and more audiences. |
The figures are skewed in two areas. Membership income for this year includes £3,043 from 2022-23's earnings due to an end-of-year delay in transfer, and a fall of £3,022 in utilities costs is due to underbilling by Rother following problems with their account transfers. |
All in all, the end of year balance - the overall 'value' of the charity- fell to £213,742, a decrease of £8,861 from £222,603 the year before. However, this balance will nearly treble in 2024-25 when new restricted funds for the new roof and basement arrive. |
Reserves policy |
The unrestricted General Fund, representing funds available for the day-to-day operation of the Museum, at the end of March 2024 stood at £36,838. The balance of restricted funds at the end of the year, monies restricted for specific donor funded activities, was £73,154. |
We treat total unrestricted income over the year, which came to £95,679 in 2023-24, as our working turnover figure. We then ensure that no less that ten percent of this is held as a minimum reserve within the General Fund balance in the unlikely event of an enforced closure. |
In that event the collection would have to be relocated or ethically disposed of, and liabilities such as legal fees or redundancies covered - though in almost every reasonable circumstance the museum would be able claim insurance to cover such expenses. |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FUTURE PLANS |
The coming year will see large areas of the lower ground floor substantially renovated, with a new education room and store, floodproofing, floor levelling and new mobile shelving in the main storage room, and hopefully, a new space for the storage and study of important archaeological finds from the Bexhill area and off its coastline. |
These new spaces, and the artefacts and resources they hold, will enable a major expansion of the museum's work from April 2026: in collections care & management, in new activities for smaller groups of children and people with special needs, for life-long education and specialist academic research, and in new park-side events for all ages. |
The spaces are key to achieving the ambition and vision of the Museum's Forward Plan, adopted unanimously by the membership in October 2023: to maintain a museum that is "volunteer-run, expert-led, traditional in presentation, modern in expression, diverse in appeal, respectful of the history and artefacts it holds in trust, protective of Bexhill's past, creative with its present, adaptable for its future". |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Company's governing documents are its Memorandum and Articles of Association dated 9 October 2003 and amended by written resolution dated 10 February 2004 and special resolutions dated 3 October 2012 and 20 October 2021. Copies of these documents are available by request. The company is limited by guarantee. |
Recruitment and appointment of new trustees |
The power of appointing new or additional Trustees is vested in the Trustees. Prior to appointment, new Trustees would be introduced to the workings of the charity, given a role description and advised of their responsibilities. |
Organisational structure |
The Management Team is appointed by the Trustees and meet weekly to review activities and manage the museum on a day-to-day basis. The group is made up of the volunteer coordinator, Gordon Smith, the Business Support Officer, Rohan Jayasekera, a representative of the Collections Care team, Stella Hales-Morris, and the Curator Julian Porter. |
There is currently only one formal staff employee of the Museum, housekeeper Toni Neville, employed part-time for housekeeping duties. Rother District Curator Julian Porter MA is seconded by Rother District Council as Curator to Bexhill Museum. Rohan Jayasekera MSc MA is contracted by the Museum month-by-month on a part-time freelance basis as Business Support Officer. |
Risk management |
The Trustees have reviewed and identified the risks to which the charity is exposed and have ensured that appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have updated the existing Child Protection Policy to take account of changes in practice regarding the Safeguarding of vulnerable adults. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Trustees |
Patron |
Suzy Izzard |
Honorary President |
Mr D J Betts |
Neither the Patron nor Honorary President is an officer of the charity. |
Company Secretary |
Independent Examiner |
David Ashby FCCA ACA |
Gibbons Mannington & Phipps LLP |
Chartered Accountants |
20 Eversley Road |
Bexhill-on-Sea |
East Sussex |
TN40 1HE |
Accountants |
Gibbons Mannington & Phipps LLP |
20 Eversley Road, Bexhill-on-Sea, East Sussex, TN40 1HE. |
Bankers |
Barclays Bank plc, Devonshire Road, Bexhill-on-Sea, East Sussex, TN40 1AG. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
BEXHILL MUSEUM |
Independent examiner's report to the trustees of Bexhill Museum ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024. |
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. |
David Ashby FCCA ACA |
Gibbons Mannington & Phipps LLP |
20 Eversley Road |
Bexhill-on-Sea |
East Sussex |
TN40 1HE |
30th September 2024 |
BEXHILL MUSEUM |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities |
Other trading activities | 3 |
Investment income | 4 |
Other income | 5 |
Total |
EXPENDITURE ON |
Raising funds | 6 |
Charitable activities | 7 |
Projects | 3,328 | 17,544 | 20,872 | 8,081 |
Museum expenditure | 62,926 | - | 62,926 | 80,764 |
Finance and administration services | 20,652 | - | 20,652 | 19,836 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 222,603 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 14 |
Heritage assets | 15 |
Investments | 16 |
CURRENT ASSETS |
Stocks | 17 |
Debtors | 18 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 19 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 20 |
Unrestricted funds | 146,884 |
Restricted funds | 75,719 |
TOTAL FUNDS | 222,603 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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. |
BEXHILL MUSEUM (REGISTERED NUMBER: 04959445) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
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, with the exception of investments which are included at market value. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
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. |
Display cases and shelving | - |
Fixtures and fittings | - |
Interactive displays | - |
Computer equipment | - |
Heritage assets |
Acquisitions for the collection since 1st April 2010, whether donated or purchased, are capitalised and recognised in the balance sheet at the cost or value of the acquisition, where such cost or valuation is reasonably obtainable and reliable. Items donated or bequeathed to the Museum's collection are valued by internal valuers if an external valuation for the items is not available. Such items are not depreciated or revalued. |
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. |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
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. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Tax recoverable on gift aid |
Legacy |
Grants |
Subscriptions |
Donations to museum collection | 2,074 | 1,048 |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Rother District Council - Service level agreement | 8,500 | 8,500 |
Arts Council: Hastings and Bexhill Museums and Schools Project (via Hastings Council) | 7,480 | 7,479 |
Bexhill Town Council | 3,000 | - |
East Sussex County Council - Captial project | - | 23,500 |
Arts Council: Insight to Culture | - | 1,500 |
18,980 | 40,979 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Shop and cafe income |
Fund raising income | 12,727 | 8,714 |
Sale of clothing | 437 | 378 |
Other income | 75 | 350 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Interest on cash investments | 282 | 51 |
5. | OTHER INCOME |
2024 | 2023 |
£ | £ |
Museums and Galleries Exhibition tax relief refund | - | 1,708 |
Expenditure recharges to Rother District Council | 2,226 | 6,520 |
2,226 | 8,228 |
6. | RAISING FUNDS |
Other trading activities |
2024 | 2023 |
£ | £ |
Opening stock |
Purchases |
Closing stock | ( | ) | ( | ) |
Fund raising, publicity and other costs | 3,377 | 2,484 |
15,069 | 13,762 |
7. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 8) | note 9) | Totals |
£ | £ | £ |
Projects | 18,612 | 2,260 | 20,872 |
Museum expenditure | 59,372 | 3,554 | 62,926 |
Finance and administration services | - | 20,652 | 20,652 |
77,984 | 26,466 | 104,450 |
8. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2024 | 2023 |
£ | £ |
Conservation | 1,882 | 874 |
Collections, exhibitions and special projects | 5,010 | 7,207 |
Computer & IT costs | 3,172 | 3,597 |
Education & lecture costs | 5,401 | 3,108 |
Subscriptions and conferences | 1,738 | 1,044 |
Repairs and renewals | 1,837 | 310 |
Advertising & promotion (inc newsletter and website) | 8,226 | 6,178 |
General rates, water rates, gas, electricity & telephone | 14,868 | 17,890 |
Cleaner's salary and cleaning consumables | 7,754 | 7,520 |
Insurance | 3,049 | 2,665 |
Printing, postage and stationery | 1,596 | 1,224 |
Volunteer expenses | 155 | 140 |
Payroll processing fees | 384 | 360 |
Security and fire protection | 4,356 | 2,547 |
Sundry expenses | 203 | 50 |
Carried forward | 59,631 | 54,714 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
8. | DIRECT COSTS OF CHARITABLE ACTIVITIES - continued |
2024 | 2023 |
£ | £ |
Brought forward | 59,631 | 54,714 |
Travel | 507 | 2,197 |
Professional fees | 3,373 | 10,172 |
Displays, signage etc (inc corridor project) | 13 | 765 |
Bank charges | 480 | 446 |
Card fees | 708 | 606 |
Depreciation | 13,272 | 15,988 |
77,984 | 84,888 |
9. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Projects | - | 2,260 | 2,260 |
Museum expenditure | - | 3,554 | 3,554 |
Finance and administration services | 20,652 | - | 20,652 |
20,652 | 5,814 | 26,466 |
Support costs, included in the above, are as follows: |
Management |
2024 | 2023 |
Finance |
and |
administration | Total |
services | activities |
£ | £ |
Sub contract administrative services | 20,652 | 19,836 |
Governance costs |
2024 | 2023 |
Museum | Total | Total |
Projects | expenditure | activities | activities |
£ | £ | £ | £ |
Accountancy fees | - | 1,704 | 1,704 | 1,680 |
Independent examiner's fees | - | 456 | 456 | 432 |
Legal fees | 2,260 | 1,394 | 3,654 | 1,845 |
2,260 | 3,554 | 5,814 | 3,957 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
10. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
11. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
12. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries | 5,460 | 5,460 |
Social security costs | 0 | 0 |
Pensions | 0 | 0 |
5,460 | 5,460 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Cleaner | 1 | 1 |
1 | 1 |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
Charitable activities |
Projects | 2,256 | 5,825 | 8,081 |
Museum expenditure | 67,051 | 13,713 | 80,764 |
Finance and administration services | 19,836 | - | 19,836 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
Transfers between funds | (1,500 | ) | 1,500 | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 169,378 | 49,129 |
TOTAL FUNDS CARRIED FORWARD | 146,884 | 75,719 | 222,603 |
14. | TANGIBLE FIXED ASSETS |
Display | Fixtures |
cases and | and | Interactive | Computer |
shelving | fittings | displays | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
15. | HERITAGE ASSETS |
Total |
£ |
MARKET VALUE |
At 1st April 2023 | 66,869 |
Additions - donated |
At 31st March 2024 | 68,943 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
As set out in note 1, the balance shown here only reflects the acquisitions for the collection since 1 April 2010. The valuation of the donated items are carried out by the Museum's Curator. |
Five year financial summary of heritage asset transactions |
2023/24 | 2022/23 | 2021/22 | 2020/21 | 2019/20 |
Purchases | 0 | 200 | 0 | 0 | 0 |
Donations | 2,074 | 1,048 | 25,662 | 851 | 951 |
Total additions | 2,074 | 1,248 | 25,662 | 851 | 951 |
Disposal | 0 | 0 | 0 | 0 | 0 |
16. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
MARKET VALUE |
At 1st April 2023 and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 | 2 |
At 31st March 2023 | 2 |
There were no investment assets outside the UK. |
The company's investments at the balance sheet date in the share capital of companies include the following: |
Registered office: Bexhill Museum, Egerton Road, Bexhill-on-Sea, East Sussex, TN39 3HL |
Nature of business: Dormant company |
% |
Class of share: | holding |
Ordinary | 100 |
£ | £ |
Aggregate capital and reserves |
The Society owns 100% of the issued share capital of Bexhill Museums Trading Limited. Its capital consists of 2 £1 shares both of which have been issued at par. |
Bexhill Museum Trading Limited ceased trading on 31 March 2019 and is currently dormant. |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
17. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
18. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Grant receivable |
Other debtors | 7,986 | 8,738 |
19. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
20. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 31,625 | 5,213 | 36,838 |
Tangible fixed assets designated fund | 87,090 | (13,272 | ) | 73,818 |
Collection acquisitions designated fund | 23,500 | 1,874 | 25,374 |
Elva repairs designated fund | 100 | - | 100 |
Bexhills lost world development project designated fund | 4,057 | - | 4,057 |
Costumes designated fund | 512 | (111 | ) | 401 |
(6,296 | ) |
Restricted funds |
Collection acquisitions fund | 43,369 | 200 | 43,569 |
Local research | 281 | (281 | ) | - |
Capital works project | 20,723 | (8,634 | ) | 12,089 |
Museum in a box | 168 | (168 | ) | - |
Izzard family train set | 6,966 | (2,495 | ) | 4,471 |
Piano | 654 | - | 654 |
Museum and schools | 2,783 | 2,289 | 5,072 |
InSight to Culture | 775 | (775 | ) | - |
Merryweather fund | - | 7,299 | 7,299 |
(2,565 | ) |
TOTAL FUNDS | (8,861 | ) | 213,742 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
20. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 93,786 | (88,573 | ) | 5,213 |
Tangible fixed assets designated fund | - | (13,272 | ) | (13,272 | ) |
Collection acquisitions designated fund | 1,874 | - | 1,874 |
Costumes designated fund | 19 | (130 | ) | (111 | ) |
( | ) | (6,296 | ) |
Restricted funds |
Collection acquisitions fund | 200 | - | 200 |
Local research | - | (281 | ) | (281 | ) |
Capital works project | - | (8,634 | ) | (8,634 | ) |
Museum in a box | - | (168 | ) | (168 | ) |
Izzard family train set | - | (2,495 | ) | (2,495 | ) |
Museum and schools | 7,480 | (5,191 | ) | 2,289 |
InSight to Culture | - | (775 | ) | (775 | ) |
Merryweather fund | 7,299 | - | 7,299 |
( | ) | (2,565 | ) |
TOTAL FUNDS | ( | ) | (8,861 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1/4/22 | in funds | funds | 31/3/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 39,243 | (4,110 | ) | (3,508 | ) | 31,625 |
Tangible fixed assets designated fund | 101,070 | (15,988 | ) | 2,008 | 87,090 |
Collection acquisitions designated fund | 23,300 | - | 200 | 23,500 |
Elva repairs designated fund | 100 | - | - | 100 |
Bexhills lost world development project designated fund | 4,057 | - | - | 4,057 |
Costumes designated fund | 1,608 | (896 | ) | (200 | ) | 512 |
169,378 | (20,994 | ) | (1,500 | ) | 146,884 |
Restricted funds |
Collection acquisitions fund | 42,321 | 1,048 | - | 43,369 |
Local research | 281 | - | - | 281 |
Capital works project | - | 19,223 | 1,500 | 20,723 |
Museum in a box | 168 | - | - | 168 |
Izzard family train set | 134 | 6,832 | - | 6,966 |
Piano | 654 | - | - | 654 |
Museum and schools | 2,265 | 518 | - | 2,783 |
InSight to Culture | 3,306 | (2,531 | ) | - | 775 |
49,129 | 25,090 | 1,500 | 75,719 |
TOTAL FUNDS | 218,507 | 4,096 | - | 222,603 |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
20. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 81,910 | (86,020 | ) | (4,110 | ) |
Tangible fixed assets designated fund | - | (15,988 | ) | (15,988 | ) |
Costumes designated fund | 1 | (897 | ) | (896 | ) |
81,911 | (102,905 | ) | (20,994 | ) |
Restricted funds |
Collection acquisitions fund | 1,048 | - | 1,048 |
Capital works project | 23,499 | (4,276 | ) | 19,223 |
Izzard family train set | 10,500 | (3,668 | ) | 6,832 |
Museum and schools | 7,480 | (6,962 | ) | 518 |
InSight to Culture | 2,101 | (4,632 | ) | (2,531 | ) |
44,628 | (19,538 | ) | 25,090 |
TOTAL FUNDS | 126,539 | (122,443 | ) | 4,096 |
Designated funds |
The tangible fixed assets fund represents the value of the fixed assets held by the charity. |
The Collection acquisitions designated fund represents the estimated cost of items donated to the museum and the actual cost of items purchased by the museum, since 2010, for items which the trustees have the power to dispose of at their discretion. During the year over 50 items were donated to the museum. |
The Elva repairs fund is money designated for repairs to the Elva car. |
Bexhill's lost world development project fund is monies designated from the receipt of a legacy in 2016 towards an extension to the museum. |
The Costumes fund is made up of a donation of £2,000 which was designated towards the costs relating to the costumes held by the museum. |
Restricted funds |
The Collection acquisitions restricted fund represents the estimated cost of items donated to the museum and the actual cost of items purchased by the museum, since 2010. During the year over 100 items were donated to the museum. |
The Local research fund represents donations towards local research costs. |
A major project for the stripping out and refitting of the semi-derelict basement stores and other urgent works was confirmed at the year's end. Funds received for this purpose in previous years were held in a Capital Project fund during the current year and will be transferred to a new dedicated fund with its own bank account in 2024-25. |
The Museum in a box fund is the balance of funds received for the museum in a box project. |
The Izzard family train set fund is monies received towards the upkeep, improvement and changes to the layout of the model train set display. |
The piano fund is made up of donations for the ongoing costs of maintaining the piano. |
BEXHILL MUSEUM |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
20. | MOVEMENT IN FUNDS - continued |
The Hastings & Bexhill Museums & Schools account draws on funds from an Arts Council project, now its fourth year, which is designed to encourage stronger shared activities with local schools. Though a restricted fund, it allows spending on a wide range of education related activities. |
The InSight to Culture fund is a grant from the Arts Council for that project. |
The Merryweather fund is grants and donations received towards the restoration costs of Bexhill's 1895 Merryweather horse-drawn, steam powered fire engine which will be permanently displayed at the museum once restoration is complete. |
21. | RELATED PARTY DISCLOSURES |
22. | LIMITED LIABILITY OF MEMBERS |
The liability of the members is limited. |
Every member of the charity undertakes to contribute to the assets of the charity in the event of the same being wound up while he/she is still a member or within one year after he/she ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of rights of the contributories amongst themselves such amount as may be required, not exceeding £1. |