Income and Expenditure Account for the year ended 31st March 2021
2020/2021 | |
Income | |
Book Sales | 261.45 |
Shop Sales | 0.00 |
Costs of Book, Shop Sales & stock write-down | -1500.00 |
Profit / Loss on Sales | -1238.55 |
(% of Profit) | |
Admission Fees | 0.00 |
Victorian School Admissions | 90.00 |
Donations and Grants* | 28768.00 |
Friends Subcriptions | 656.00 |
Outreach/Fundraisin/Research | 114.50 |
Interest | 28.50 |
Miscellaneous | |
TDC CAR PARK REIMBURSEMENT | 3094.59 |
Total income | 31513.04 |
Expenditure | |
Publicity and Printing costs | 190.20 |
Equipment Depreciation | 870.10 |
petty cash | 0.00 |
Library Archives | |
cleaning | 56.00 |
Coffee machine | |
Volunteers Expenses | |
Administration | |
Insurance | 1447.39 |
Stationery, postage & computer supplies | 240.92 |
Maintenance | 3360.41 |
Utilities | 756.00 |
Water | 276.00 |
Telephone and Internet | 380.55 |
AGM COSTS – | |
SW MARITIME MEMBERSHIP | 15.00 |
Total Expenditure | 7592.57 |
SURPLUS | 23920.47 |
Balance Sheet as at 31/03/2021 |
Assets | £ | £ |
Current Assets | ||
Stock at cost less provision | 4300.00 | |
Cash and cash equivalents | ||
Cash in hand | 130.00 | |
Current account | 41360.92 | |
Business Reserve | 70038.80 | |
111529.72 | ||
Current Liabilities | ||
Accrued Expenses | 405.18 | |
Net current assets | 115424.54 | |
Non current assets | ||
Building | 156673.00 | |
Office equipment: Cost | 5807.00 | |
dpn | 4056.70 | |
1750.30 | ||
Flagpoles | 1954.00 | |
dpn | 975.40 | |
978.60 | ||
Non current assets total | 159401.90 | |
Total net assets | 274826.44 | |
Accumfunds b/f | 250905.81 | |
Surplus | 23920.47 | |
274826.28 |
List of Donations and grants | £ |
Northam T C | 400 |
TDC Grants Covid 19 | 27000 |
Legacy Donald Cawthorn | 1000 |
MISCELLANEOUS | 68 |
Maggie Curtis | 50 |
Mr Tamlyn | 250 |
28768 |
Building shown at cost of purchase March 2016 plus Portico addition. | |
2020/ 2021 Depreciation charged at 30% per annum on projector and audio equipment . | |
10% per annum on desk and flagpole | |
No depreciation charge in year of acquisition | |
Depreciation charge for year | |
Audio Equipment | 247.5 |
Desk | 158.4 |
Card machine | 268.8 |
Flagpole | 195.4 |
Total: | 870.1 |
Closing stock comprises shop stock at cost and a stock of books. | |
Many books have been held for many years and therefore have a | |
potentially low (nil) realizable value. | |
A detailed stock count as at 31/03/2019 was taken and stock recored at cost as: | |
Shop stock | 2493 |
Book stock | 8856 |
Stock at cost | 11349 |
Many books have been held for many years and therefore have a | |
potentially low (nil) realizable value. A provision for slow moving and obsolete | |
stock has therefore been agreed | |
Stock at cost | 11349 |
Provision | 7049 |
Stock valuation | 4300 |
Cost of sales computed as follows: | |
Opening stock | 5800 |
Purchases | 0 |
Closing stock | 4300 |
Provision | 1500 |
Benefits In Kind |
The Museum received 3168 hours during the year from volunteers |
including archiving. Research, maintenance and committee work |
The value to the Museum at the Minimum wage of £8.72 per hour was £27625. |
Visitors Numbers |
The Museum received no visitors during the year due to the COVID-19 pandemic. |
This would include visitors to the Museum itself, school parties, research and enquiries |
Date: 30 Sept 2021 |
Signed: Fiona Cousins |
Audit Certificate |
I have examined the books of the North Devon Maritime Museum. In my opinion |
proper Books of Account have been kept and these give a true and fair view of |
the financial affairs of the Museum, the surplus for the year ended March 2019 |
and the assets and liabilities at that date. |
A full audit has not been carried out. |
Date: 07 July 2021 |
Signed: Stephen Taylor |