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 |