Queen's Own Royal West Kent Regiment Museum Trust - Accounts 2013/14
Decision Maker: Queen's Own Royal West Kent Regiment Museum Trust Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To approve the Trust’s Accounts for the year ending 31 March 2014.
That the Trust’s Accounts for the year ending 31 March 2014, attached as Appendix A to the report of the Head of Finance and Resources, be approved.
Reasons for the decision:
The Accounts for the year ending 31 March 2014 are attached as Appendix A to the report of the Head of Finance and Resources.
The Accounts must be approved before they are submitted to the Charity Commission.
There was a small deficit of £125 on the Receipts and Payments account for 2013/14. The only item of expenditure was the payment of the service charge to the Council to cover the running costs of the area in the Museum occupied by the Trust collection. This expenditure was almost covered by income receipts from voluntary sources and investment income.
The Trust continues to have a healthy level of assets, which currently stand at £22,400, but the bank account balance now stands at £3,030. The Receipts and Payments Account has operated at a deficit for the last three years, and as a minimum the Trust needs to generate sufficient income to meet the annual service charge payment to the Council, as it almost did this year. Additional income or sources of income will need to be found to meet any further expenditure such as the purchase of new exhibits. As mentioned in the Annual Report, £750 has been spent in 2014/15 to acquire a new exhibit to complete an existing set of medals on display in the Queen’s Own Royal West Kent Museum, and this will further reduce the available bank balance.
Alternative options considered:
There is no alternative action as the Trust is required to submit its accounts to the Charity Commission.
Details of the Committee: None
Contact: Ellie Dunnet Paul Holland Ext.2038 Email: firstname.lastname@example.org.
Report author: Paul Holland
Publication date: 19/12/2014
Date of decision: 17/12/2014
Effective from: 31/12/2014