Bath Industrial Heritage Trust Limited - Charities report - 20.2

REGISTERED COMPANY NUMBER: 02269894 (England and Wales)

REGISTERED CHARITY NUMBER: 800297

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

BATH INDUSTRIAL HERITAGE TRUST LIMITED

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

14

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 January 2020. 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 objectives of the company are to advance the education of the public of Bath's industrial heritage through the maintenance of The Museum of Bath at Work; and to extend, enhance, conserve, maintain and store the collections of the Museum.

Financial review

During the year total incoming resources increased from £55,198 to £59,520. This included donations of £21,961 (£27,004 - 2018/19) and museum admission receipts of £26,177 (£18,753 - 2018/19). Resources expended have decreased from £71,124 to £66,042, due to less expenditure on maintenance of the Museum. Overall the funds of the charity reduced from £55,814 to £49,292.

Public benefit

During the year under review, the company continued to provide activity for public benefit under its Charitable objects. In preparing this report, the Trustees have complied with their duty to have regard to the Charity Commission's public benefit guidance.

The major exhibition for 2019 was Bonkers or Brilliant?, marking 50 years of Bath Arts Workshop. Bath Arts Workshop was a pioneering initiative that included many different projects, including The Natural Theatre Company (still based in Bath), a print workshop producing posters and flyers, ComTek a re-cycling and alternative energy project, and several others. In the early 1970s, Bath Arts Workshop led the way with 'green' and sustainability projects - ideas that are now familiar and engaged with by many people, but then very new. The Museum worked with an enthusiastic committee of ex-Bath Arts Workshop artists and workers to create a truly impressive exhibition with an accompanying talks and films programme. Increased awareness of 'green' issues meant that the exhibition was very popular, with many local visitors coming to the museum for the first time.

Phil Sheppard delivered the Annual Michael Cross lecture in October on the history of Bath Arts Workshop, and there were two conferences, one on community arts practice and one about street theatre and outdoor performance, organised with Bath Fringe Festival.

Alongside and in the smaller exhibition space, the Hudson Gallery, we created an exhibition about the Big Issue charity and, in particular, its team of magazine sellers in Bath. Most people were unaware that Bath was the first city outside London to set up a Big Issue team to support people experiencing homelessness and who want to take steps to put themselves in a better financial position. Working with the charity's local staff and involving some of the magazine sellers as interviewees and contributors, the exhibition was an eye-opener for many visitors to the museum and received a very positive response.

As in previous years, school groups were welcomed to the museum to learn about Bath's industrial and commercial history. Sessions are pitched at an age-appropriate level and include handling objects and understanding how people lived and the jobs they did during the nineteenth and early twentieth centuries. We continue to attract school visits from as far afield as Liverpool and London, along with increasing numbers of overseas groups, notably of Chinese students. We also introduced occasional 'have a go' sessions for adults, where they can learn from an engineering expert how to make simple metal items using the original equipment in the J.B. Bowler display.

We continued to enjoy good relationships with local community organisations through making available the upper floor for meetings and events. Regular users of the museum include the Bath Bridge Club, the Bath Dechen Buddhists Group, Robyn Blackmore's Yoga Class and Bath Flower School. Other users included Mytton Williams Design, Lucy Auger Art, Actors UK, and the Halfpenny Theatre Company. Bath Flower School, a new start-up company, have been delighted with the ambience of the main space which works well for their flower-arranging classes.

A season of GPO Film Unit short films was presented in collaboration with the Bath Postal Museum, as well as feature-length screenings including Arcadia, Tonight in London, Man with a Movie Camera and A Christmas Carol. The Museum Director gave 36 talks and lectures for a number of local organisations and groups.

2019 was a year of intensive fundraising. A sub-committee of the Board was created to focus on Fundraising, and a fundraising strategy was approved by the Board in September 2019. Initially we have focussed on existing supporters and Friends of the Museum of Bath at Work (a separate charity); a well-attended social event for the Friends was held in June 2019, and this was followed-up with two informal coffee mornings in August and November (the latter with a Christmas theme). Coffee drinking and coffee houses were a vital part of Bath's eighteenth century social and business life, and we are using the theme to encourage people to make modest, regular donations of the price of two cups of coffee a week. Alongside this, we have made approaches to local trusts and foundations and were pleased to receive a generous donation of £5,000 from the Medlock Charitable Trust. Fundraising work is ongoing in 2020, as the museum must raise upwards of £11,000 (in addition to its sales income and regular small donations) in order to cover running costs. We continue to benefit from the continued and long-standing support of The Stephen Clark Charitable Settlement 1965 for which we are very grateful.

Achievements and performance

Visitor numbers were pleasing, with 7,041 people visiting the museum during the 12 months:

Adult full-price ticket

4,501

Concession ticket

352

Family ticket

389

Bath and North East Somerset Discovery Card

439

Events attendance, including film screenings

517

School children and young people

400

Other activities attendance

443

The Friends of Museum of Bath at Work continued to play a crucial role in fundraising and volunteering, together with numerous other volunteers who ran the front desk, assisted with maintenance of machinery and other exhibits, and undertook research and cataloguing. Board members also contribute very significant time and expertise.

In September 2019, one Trustee/Director resigned, and three Trustees/Directors were appointed.

The Board sincerely thanks the Museum Director, Stuart Burroughs, for his indefatigable energy and passion for the museum and its collection.

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

02269894 (England and Wales)

Registered Charity number

800297

Registered office

Museum of Bath at Work

Julian Road

Bath

BA1 2RH

Trustees

E H Cross

Dr S L Frears (resigned 26.6.20)

J L Hall

M J W Lunt (resigned 29.9.19)

P J Metcalfe (appointed 30.9.19)

Dr T J Turpin (appointed 30.9.19)

G J O Wallis (appointed 30.9.19)

Professor A B Sumner

E Lane

Ms A Cullis

Professor J B Hannam

Company Secretary

Ms A Cullis

Independent Examiner

Matt Small

FCA

Berkeley Hall Marshall Limited

6 Charlotte Street

Bath

BA1 2NE

Approved by order of the board of trustees on 18 September 2020 and signed on its behalf by:

Dr T J Turpin - Trustee

Independent examiner's report to the trustees of Bath Industrial Heritage Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2020.

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.

Matt Small

FCA

Berkeley Hall Marshall Limited

6 Charlotte Street

Bath

BA1 2NE

23 September 2020

2020

2019

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

18,541

3,420

21,961

27,004

Charitable activities

Charitable activity

26,177

-

26,177

18,753

Other trading activities

2

4,169

-

4,169

3,511

Investment income

3

151

-

151

180

Other income

7,062

-

7,062

5,750

Total

56,100

3,420

59,520

55,198

EXPENDITURE ON

Raising funds

19,542

-

19,542

20,392

Charitable activities

Charitable activity

40,259

3,200

43,459

46,144

Other

1,250

1,791

3,041

4,588

Total

61,051

4,991

66,042

71,124

NET INCOME/(EXPENDITURE)

(4,951

)

(1,571

)

(6,522

)

(15,926

)

RECONCILIATION OF FUNDS

Total funds brought forward

33,245

22,569

55,814

71,740

TOTAL FUNDS CARRIED FORWARD

28,294

20,998

49,292

55,814

2020

2019

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

8

3,602

10,152

13,754

16,181

CURRENT ASSETS

Stocks

9

1,604

-

1,604

3,104

Cash at bank

23,968

10,846

34,814

37,349

25,572

10,846

36,418

40,453

CREDITORS

Amounts falling due within one year

10

(880

)

-

(880

)

(820

)

NET CURRENT ASSETS

24,692

10,846

35,538

39,633

TOTAL ASSETS LESS CURRENT LIABILITIES

28,294

20,998

49,292

55,814

NET ASSETS

28,294

20,998

49,292

55,814

FUNDS

11

Unrestricted funds

28,294

33,245

Restricted funds

20,998

22,569

TOTAL FUNDS

49,292

55,814

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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.

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 18 September 2020 and were signed on its behalf by:

T J Turpin - Trustee

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.

Changes in accounting policies

The charity prepares its first financial statements that comply with Charities SORP (FRS 102) for the year ended 31 January 2017. The charity's date of transition to Charities SORP (FRS 102) is 1 February 2016.

There was no restatement of figures required.

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.

Short leasehold

-

10% on cost

Plant and machinery

-

15% on reducing balance

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.

2.	OTHER TRADING ACTIVITIES

2020

2019

£

£

Shop income

4,169

3,511

3.	INVESTMENT INCOME

2020

2019

£

£

Deposit account interest

151

180

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2020

2019

£

£

Depreciation - owned assets

2,427

2,855

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2020 nor for the year ended 31 January 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2020 nor for the year ended 31 January 2019.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2020

2019

Curator

1

1

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

19,884

7,120

27,004

Charitable activities

Charitable activity

18,753

-

18,753

Other trading activities

3,511

-

3,511

Investment income

28

152

180

Other income

5,750

-

5,750

Total

47,926

7,272

55,198

EXPENDITURE ON

Raising funds

18,713

1,679

20,392

Charitable activities

Charitable activity

40,923

5,221

46,144

Other

2,481

2,107

4,588

Total

62,117

9,007

71,124

NET INCOME/(EXPENDITURE)

(14,191

)

(1,735

)

(15,926

)

RECONCILIATION OF FUNDS

Total funds brought forward

47,436

24,304

71,740

TOTAL FUNDS CARRIED FORWARD

33,245

22,569

55,814

8.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 February 2019 and 31 January 2020

29,145

25,716

54,861

DEPRECIATION

At 1 February 2019

25,101

13,579

38,680

Charge for year

607

1,820

2,427

At 31 January 2020

25,708

15,399

41,107

NET BOOK VALUE

At 31 January 2020

3,437

10,317

13,754

At 31 January 2019

4,044

12,137

16,181

9.

STOCKS

2020

2019

£

£

Stocks

1,604

3,104

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Creditors

880

820

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.2.19

in funds

31.1.20

£

£

£

Unrestricted funds

General fund

33,245

(4,951

)

28,294

Restricted funds

Restricted

22,569

(1,571

)

20,998

TOTAL FUNDS

55,814

(6,522

)

49,292

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

56,100

(61,051

)

(4,951

)

Restricted funds

Restricted

3,420

(4,991

)

(1,571

)

TOTAL FUNDS

59,520

(66,042

)

(6,522

)

Comparatives for movement in funds

Net

movement

At

At 1.2.18

in funds

31.1.19

£

£

£

Unrestricted funds

General fund

47,436

(14,191

)

33,245

Restricted funds

Restricted

24,304

(1,735

)

22,569

TOTAL FUNDS

71,740

(15,926

)

55,814

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

47,926

(62,117

)

(14,191

)

Restricted funds

Restricted

7,272

(9,007

)

(1,735

)

TOTAL FUNDS

55,198

(71,124

)

(15,926

)

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

Net

movement

At

At 1.2.18

in funds

31.1.20

£

£

£

Unrestricted funds

General fund

47,436

(19,142

)

28,294

Restricted funds

Restricted

24,304

(3,306

)

20,998

TOTAL FUNDS

71,740

(22,448

)

49,292

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

104,026

(123,168

)

(19,142

)

Restricted funds

Restricted

10,692

(13,998

)

(3,306

)

TOTAL FUNDS

114,718

(137,166

)

(22,448

)

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2020.