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COMPANY REGISTRATION NUMBER: 08179609
CHARITY REGISTRATION NUMBER: 1152905
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2024
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
Page
Directors' annual report (incorporating the director's report)
1
Chartered certified accountants report to the board of trustees on the preparation of the unaudited statutory financial statements
4
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Statement of cash flows
7
Notes to the financial statements
8
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Directors' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024 .
Reference and administrative details
Registered charity name
Denbigh Museum/Amgueddfa Dinbych
Charity registration number
1152905
Company registration number
08179609
Principal office and registered
Church House
office
High Street
St Asaph
Denbighshire
LL17 0RD
The directors
Ms S K W Grey-Lloyd
Mrs V Jones
Mr R Snelson
Mr M Ff Williams
Mr A. Gray
Mr C Wynne
Mr D. Davies
Mrs C. Harries
Mr M Jones
Mr G Jones
M/s M Jones
Company secretary
Owain Llyr Williams
Structure, governance and management
Denbigh Museum/Amgueddfa Dinbych is a company limited by guarantee with charitable status. The day to day management of the organisation is undertaken by a management committee which met for the first time on 12th March 2014. The management committee meets every 6 weeks and reports to the Board of Trustees who are also Directors of the company. The directors are elected at the AGM every year by members of Denbigh Museum/Amgueddfa Dinbych to operate on their behalf in accordance with the constitution.
Objectives and activities
The objects of the Charity are specifically restricted to the following: -
1) to establish and maintain a strictly accredited museum for the benefit of the public 2) to promote art and history for the benefit of the public by the establishment and maintenance of a museum 3) to advance education by the establishment and maintenance of a museum 4) to have power to hold and/or own collections.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Achievements and performance
Throughout the summer we had two exhibitions simultaneously; Denbigh in World War 2, part of which was to commemorate the 80th anniversary of the D-day landings and the presence of American soldiers in Denbigh preparing for the event, and Denbigh in Print We were loaned items from many local people for the WW2 exhibition and had a reasonable number of visitors especially when we opened during the week of the Mid-summer Festival in Denbigh. The exhibition will be taken down after Denbigh Open Doors so so that we can begin the process of packing in readiness for our move to the new premises. The handover date should be before Christmas 2024, and we are preparing a grant application to the Heritage Lottery Fund to finance a three year programme for setting up an exhibition and arranging events. This has been done with the help of Grwp Cynefin and Headland Museum Specialists. We have established links with Denbigh High School and St Brigid's.
Financial review
Our finances are relatively stable and we are constantly looking for new ways to generate more income in preparation for move to new premises soon. We have re-registered for gift aid and have received a back-dated payment. We have now got a card-reader which has been very useful in increasing our income. The Lottery has proven very successful and bringing in a reliable source of income over the last 4 years. Membership continues to grow each year,
Plans for future periods
We will be applying for an HLF grant to finance a 3-year package, in collaboration with Headland and Grwp Cynefin.
Our next programme of talks will begin in September but may be curtailed because of the move. We will be increasing our income by organising various events and increasing membership of our lottery. We will look at other ways of funding the work of museum such as sponsorships etc
We will be setting up a register of volunteers.
We will be developing our links with the schools.
We will be moving to our new premises in early 2025.
Based on the success of last year's talks we will again have a programme of monthly talks for as long as we are able in the current premises.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The directors' annual report was approved on 24 April 2025 and signed on behalf of the board of trustees by:
Mr C Wynne
Director
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Chartered Certified Accountants Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Denbigh Museum/Amgueddfa Dinbych
Year ended 31 August 2024
As described on the statement of financial position, the directors of the charity are responsible for the preparation of the financial statements for the year ended 31 August 2024, which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes.
You consider that the charity is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Chartered Certified Accountants
24 April 2025
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
4,461
4,461
642
Other trading activities
6
12,264
12,264
12,987
Investment income
7
1,422
1,422
772
Other income
8
2,181
2,181
310
--------
--------
--------
Total income
20,328
20,328
14,711
--------
--------
--------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
9
124
124
1,458
Expenditure on charitable activities
10,11
14,606
14,606
18,957
--------
--------
--------
Total expenditure
14,730
14,730
20,415
--------
--------
--------
--------
--------
--------
Net income/(expenditure) and net movement in funds
5,598
5,598
( 5,704)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
74,384
74,384
80,088
--------
--------
--------
Total funds carried forward
79,982
79,982
74,384
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible fixed assets
14
220
354
Current assets
Stocks
15
836
880
Debtors
16
1,635
Cash at bank and in hand
78,384
74,290
--------
--------
80,855
75,170
Creditors: amounts falling due within one year
17
1,093
1,140
--------
--------
Net current assets
79,762
74,030
--------
--------
Total assets less current liabilities
79,982
74,384
--------
--------
Net assets
79,982
74,384
--------
--------
Funds of the charity
Unrestricted funds
79,982
74,384
--------
--------
Total charity funds
19
79,982
74,384
--------
--------
For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
Mr C Wynne
Mr M Jones
Director
Director
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2024
2024
2023
Note
£
£
Cash generated from operations
21
2,756
( 6,858)
Interest paid
( 84)
( 84)
Interest received
1,422
772
-------
-------
Net cash from/(used in) operating activities
4,094
( 6,170)
-------
-------
Net increase/(decrease) in cash and cash equivalents
4,094
( 6,170)
Cash and cash equivalents at beginning of year
74,290
80,460
--------
--------
Cash and cash equivalents at end of year
78,384
74,290
--------
--------
Denbigh Museum/Amgueddfa Dinbych
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Church House, High Street, St Asaph, Denbighshire, LL17 0RD.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements may require management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the directors for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
20% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Denbigh Museum/Amgueddfa Dinbych is a registered charity, being a company limited by guarantee. The number of Trustees as at 31/08/2024 was 11.
Warranty liability restricted to £1 per trustee
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
General donations
1,031
1,031
642
642
Donation from Historic Society
3,430
3,430
-------
-------
----
----
4,461
4,461
642
642
-------
-------
----
----
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Sales of DVDs and books
430
430
2,107
2,107
Social lotteries
9,705
9,705
9,415
9,415
Other income
2,129
2,129
1,465
1,465
--------
--------
--------
--------
12,264
12,264
12,987
12,987
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
1,422
1,422
772
772
-------
-------
----
----
8. Other income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Room hire & subsistance
188
188
310
310
HMRC Gift Aid
1,993
1,993
-------
-------
----
----
2,181
2,181
310
310
-------
-------
----
----
9. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
DVDs for resale
124
124
1,458
1,458
----
----
-------
-------
10. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Support costs
14,606
14,606
18,957
18,957
--------
--------
--------
--------
11. Expenditure on charitable activities by activity type
Support costs
Total funds 2024
Total fund 2023
£
£
£
Governance costs
14,606
14,606
18,957
--------
--------
--------
12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
134
134
----
----
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
2,471
4,125
6,596
-------
-------
-------
Depreciation
At 1 September 2023
2,215
4,027
6,242
Charge for the year
85
49
134
-------
-------
-------
At 31 August 2024
2,300
4,076
6,376
-------
-------
-------
Carrying amount
At 31 August 2024
171
49
220
-------
-------
-------
At 31 August 2023
256
98
354
-------
-------
-------
15. Stocks
2024
2023
£
£
Raw materials and consumables
836
880
----
----
16. Debtors
2024
2023
£
£
Prepayments and accrued income
1,635
-------
----
17. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,093
1,140
-------
-------
18. Deferred income
2024
2023
£
£
At 1 September 2023
585
585
Amount released to income
(585)
(585)
----
----
At 31 August 2024
----
----
19. Analysis of charitable funds
Unrestricted funds
At 1 September 2023
Income
Expenditure
At 31 August 2024
£
£
£
£
General funds
74,384
20,328
(14,730)
79,982
--------
--------
--------
--------
At 1 September 2022
Income
Expenditure
At 31 August 2023
£
£
£
£
General funds
80,088
14,711
(20,415)
74,384
--------
--------
--------
--------
20. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
220
220
Current assets
80,855
80,855
Creditors less than 1 year
(1,093)
(1,093)
--------
--------
Net assets
79,982
79,982
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
354
354
Current assets
75,170
75,170
Creditors less than 1 year
(1,140)
(1,140)
--------
--------
Net assets
74,384
74,384
--------
--------
21. Cash generated from operations
2024
2023
£
£
Net income/(expenditure)
5,598
(5,704)
Adjustments for:
Depreciation of tangible fixed assets
134
134
Other interest receivable and similar income
( 1,422)
( 772)
Interest payable and similar charges
84
84
Accrued (income)/expenses
( 47)
145
Changes in:
Stocks
44
( 745)
Trade and other debtors
( 1,635)
-------
-------
2,756
( 6,858)
-------
-------
22. Analysis of changes in net debt
At 1 Sep 2023
Cash flows
At 31 Aug 2024
£
£
£
Cash at bank and in hand
74,290
4,094
78,384
--------
-------
--------
23. Related parties
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.