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Grampian Transport Museum Trust |
For the year ended 31 March 2022
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 31 March 2022
Grampian Transport Museum Trust
Contents Page
1 to 2
Report of the Trustees
3
Independent Examiner's Report to the Trustees
4
Statement of Financial Activities
5
Statement of Financial Position
6 to 13
Notes to the Financial Statements
3
For the year ended 31 March 2022
Grampian Transport Museum Trust
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the |
financial statements for the charitable company for the year ended 31 March 2022. 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 the Republic of Ireland (FRS |
102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. |
REFERENCE AND ADMINISTRATIVE INFORMATION |
Grampian Transport Museum Trust
Charity registration number |
SC017625
SC130066
Company registration number |
Grampian Transport Museum |
The trustees and officers serving during the year and since the year end were as follows:
Dr P Lawson
Miss S Catchpole
Mr G Gunn
Mr G Neish (Resigned on 30/11/2021)
(Resigned: 30 November 2021) |
Mr J Dorey
Mr J Rahtz (Resigned on 30/09/2021)
(Resigned: 30 September 2021) |
Mr K McCormick
Mr M Rasmussen
Mr R Matheson
Mrs T Collie
Mr A MacCuish
Mr H Salvesen
Mr L Buchan
Cllr J Goodhall
Mr M Reynolds (appointed on 30/09/2021)
(Appointed: 30 September 2021) |
Mr J Young (appointed on 30/09/2021)
(Appointed: 30 September 2021) |
Mr A Dawson (appointed on 30/09/2021)
(Appointed: 30 September 2021) |
Mr M Jeffery (Resigned on 30/09/2021)
(Resigned: 30 September 2021) |
1 of 13
4
For the year ended 31 March 2022
Grampian Transport Museum Trust
Report of the Trustees Continued
Roddy Mathieson
(Appointed: 30 September 2021) |
Stephen Milne
30 Binghill Road West
Milltimber
Aberdeen
AB13 0JB
............................................................................. |
Approved by the Board of Trustees and signed on its behalf by |
2 of 13
5
For the year ended 31 March 2022
Grampian Transport Museum Trust
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022. |
Responsibilities and basis of report |
As the charity 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 Charities and Trustee Investment (Scotland) Act 2005 ('the 2005 Act') , the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 ('the 2006 Act'). You are satisfied that the accounts of the Company are not required by charity or company law to be audited and have chosen instead to have an independent examination. 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 carried out under section 44 (1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). |
Independent examiners statement |
Since the Company is required by law to prepare its accounts on an accruals basis and is registered in Scotland, your |
examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as |
amended). I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the |
listed bodies. |
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 that in any material respect: |
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act and Regulation 4 |
of the Charities Accounts (Scotland) Regulations 2006 (as amended); or |
2. the accounts do not accord with those records with the accounting requirements of Regulation 8 of the Charities Accounts |
(Scotland) Regulations 2006; 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. |
Stephen Milne
Stephen Milne Chartered Management Accountants
30 Binghill Road West
Milltimber
Aberdeen
AB13 0JB
31 August 2022
3 of 13
6
For the year ended 31 March 2022
Grampian Transport Museum Trust
Statement of Financial Activities (including Income and Expenditure Account)
2021
2022
Income and endowments from: |
29,157
35,400
-
29,157
2
3
29,487
115,786
-
115,786
Museum Admission Fees
5,640
8,110
-
8,110
Members Subscriptions
(11)
-
-
-
Events and Catering Income
11,890
8,750
-
8,750
Vehicle Storage Fees
8,568
4,031
-
4,031
Aberdeen transport preservation |
trust |
23,312
24,554
-
24,554
Other Income
237,864
116,241
-
116,241
Grants
4
19,107
-
19,107
-
-
-
-
3,903
37,353
-
37,353
10,004
5
142
91
-
91
363,180
366,199
-
363,180
6
(11,738)
(22,079)
-
(22,079)
Fundraising trading: cost of |
goods sold and other costs |
7/8
(274,827)
(408,169)
-
(408,169)
General Activities
(430,248)
(286,565)
-
(430,248)
(67,068)
79,634
-
(67,068)
Total funds brought forward |
413,019
492,653
7,372
485,281
Total funds carried forward |
418,213
7,372
425,585
492,653
4 of 13
7
Grampian Transport Museum Trust
Statement of Financial Position
2022
2021
270,048
298,824
12
270,048
298,824
11,435
5,284
13
14,545
15,342
14
Debtors: amounts falling due within one year
Debtors: amounts falling due after more than one year |
-
4,295
14
130,455
179,216
156,435
204,137
Creditors: amounts falling due within one year |
-
135
15
Net current assets
156,435
204,272
Total assets less current liabilities |
426,483
503,096
Creditors: amounts falling due after more than one year |
(898)
(10,443)
16
Net assets
425,585
492,653
17
7,372
14,511
Unrestricted income funds |
17
418,213
478,142
425,585
492,653
For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by: |
31 August 2022
5 of 13
8
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006. Grampian Transport Museum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). |
2. Income from donations and legacies |
2021
2022
35,400
29,157
35,400
29,157
6 of 13
9
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
3. Income from charitable activities |
2021
2022
Museum Admission Fees
115,786
29,487
Income from charitable |
activities |
Members Subscriptions
8,110
5,640
Members Subscriptions
Events and Catering Income
-
(11)
Events
Vehicle Storage Fees
8,750
11,890
Storage Fees
Aberdeen transport preservation |
trust |
4,031
8,568
ATPT
Other Income
24,554
23,312
Other Income
Grants
116,241
237,864
Grants
316,750
277,472
4. Income earned from other activities |
2021
2022
-
19,107
3,903
-
Shop Income
10,004
37,353
Tea Room Sales
13,907
56,460
2021
2022
91
142
142
91
7 of 13
10
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
6. Expenditure on other trading activities |
2021
2022
11,738
22,079
Fund raising events
22,079
11,738
7. Costs of charitable activities by fund type |
2021
2022
254,761
381,580
General Activities
20,066
26,589
Support costs
274,827
408,169
8. Costs of charitable activities by activity type |
2021
2022
Activities |
undertaken |
directly |
General Activities
408,169
26,589
381,580
274,827
9. Analysis of support costs |
2021
2022
Management
5,097
5,384
Finance
16,461
8,374
IT
5,031
4,230
Governance costs
-
2,078
20,066
26,589
8 of 13
11
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
10. Particulars of employees |
2022
2021
6
Employees
11. Comparative for the Statement of Financial Activities |
The comparative year values on the Statement of Financial Activites are for unrestricted funds. |
12. Tangible fixed assets |
447,101
1,437
45,996
3,525
54,817
341,326
490
-
-
490
-
-
341,326
4,015
45,996
1,437
447,591
54,817
148,277
376
36,168
514
47,296
63,923
Charge for year
29,266
287
9,199
881
7,521
11,378
177,543
663
45,367
1,395
54,817
75,301
266,025
277,403
-
7,521
2,620
3,011
629
9,828
774
1,061
270,048
298,824
13. Stocks and work in progress |
2022
2021
11,435
5,284
11,435
5,284
9 of 13
12
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
2022
2021
Amounts due within one year: |
-
4,833
14,545
10,509
14,545
15,342
Amounts due after more than one year: |
Prepayments and accrued income |
-
4,295
-
4,295
15. Creditors: amounts falling due within one year |
2022
2021
-
(135)
-
(135)
16. Creditors: amounts falling due after more than one year |
2022
2021
(2)
9,344
Accruals and deferred income |
900
1,099
898
10,443
10 of 13
13
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
Transfers
General
21,235
-
-
-
21,235
Circuit Fund
390,702
363,180
(430,248)
-
323,634
General
73,173
-
-
-
73,173
Reserve Fund
171
-
-
-
171
485,281
363,180
(430,248)
-
418,213
Unrestricted Funds - Previous year |
Transfers
General
21,235
-
-
-
21,235
Circuit Fund
328,331
366,199
(286,565)
(24,155)
383,810
General
48,771
-
-
24,155
72,926
Reserve Fund
171
-
-
-
171
398,508
366,199
(286,565)
-
478,142
Purpose of unrestricted Funds |
Circuit Fund
The Circuit Fund is to allow planned repair of the museums tarmac road circuit used for the events programme and club hires |
Reserve Fund
The Reserve fund is the museum's emergency fund used to buffer unforseen financial need or the effects of a sudden lossd of income |
Road Safety Project Fund
The Road Safety Project Fund is to be used for a futur children's road safety facility
General
To run an operate the general running of the facility
11 of 13
14
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
2,210
2,210
Mortier Fund
3,571
3,571
Sentinel Fund
1,591
1,591
7,372
7,372
Restricted Funds - Previous year |
2,210
2,210
Mortier Fund
3,131
3,131
Others
8,000
8,000
Sentinel Fund
1,170
1,170
14,511
14,511
Purpose of restricted funds |
Mortier Fund
The Mortier Fund is dedicated to the conservation and care of the Mortier Dance Organ that is used to add atmosphere |
Sentinel Fund
The Sentinel fund is used to offset the cost of running and maintaining the 1914 Sentinel Steam Lorry
Durant Restoration Fund
The Durant Restoration Fund is to be used for the restoration of the Durant Car
Others
Others comprises of all other items of restricted income including a rest room donation and MGS cruise ship grant
12 of 13
15
For the year ended 31 March 2022
Grampian Transport Museum Trust
Notes to the Financial Statements Continued
18. Analysis of net assets between funds |
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
270,048
156,435
(898)
425,585
General
270,048
156,435
(898)
425,585
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
298,824
204,272
(10,443)
492,653
General
298,824
204,272
(10,443)
492,653
13 of 13