REPORT AND ACCOUNTS 2013/2014 |
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Operations
Operations
The museum is pleased to report the acquisition of the following major items during 2012:
To enable easier acquisition of items from the United States – where suppliers often are not prepared to ship items internationally – I am delighted to report that Stone Museum now has its own freight forwarding address in North America:
Suite #K2867
13820 NE Airport Way
Portland, OR 97230
USA
Finance
Donations rose by 42.2% over 2011/2012 but costs also increased by 41.8% due to major acquisitions during the year. Total assets showed growth of 9.5%.
Administration costs decreased by 13.0% and so now represent only 10% of our gross expenditure – down from 17% last year.
Brian R J Glover
Curator
1. Museum Expenditure
As a non profit making organisation, the Museum aims to spend the minimum possible on administration and overheads so that funds can be channelled into curation of the collection and the acquisition of display equipment and new specimens.
2. Tangible fixed assets and depreciation
Fixed assets at 31st March 2013 are stated at the lower of (a) cost, less provision for depreciation - if originally purchased by the Museum, or (b) net realisable value, less provision for depreciation - if the asset was originally donated free of charge.
Depreciation is provided on a straight line basis, and is calculated on historical amounts, after providing for any permanent diminution in value. The period of depreciation being the estimated life of the asset subject to the maxima shown below and commencing when the capital expenditure was incurred or on acquisition of the asset by donation.
| Type of asset | Maximum period |
| Computer equipment | 10 years |
| Laboratory and display equipment | 20-40 years |
Estimated lives and residual values of individual items are reviewed periodically and amended when circumstances change. Asset values shown represent the estimated replacement cost of the collection with specimens of similar quality and size.
3. Disposals
No specimen in the collection is considered to be a disposable asset - the Museum's charter provides strict safeguards and restrictions on disposals of the specimens themselves.
4. Interest Receivable
Current account interest is received gross of tax each quarter. Investment interest is received gross of tax each June.
| 2012/2013 | 2011/12 | |
| INCOME (£) | ||
| Donations | 3106.91 | 2179.39 |
| Gift Shop Sales | 0.00 | 3.45 |
| Stock in Hand | 1028.87 | 1028.87 |
| Cash In Hand | 1204.30 | 1234.78 |
| Interest Received | 1.23 | 0.56 |
| TOTAL | 5341.31 | 4447.05 |
| EXPENDITURE | ||
| Acquisitions | 2696.75 | 1684.22 |
| Purchase of Fixed Assets | 49.98 | 81.13 |
| Operating Costs | 312.23 | 364.04 |
| Exceptional Items | 0.00 | 50.00 |
| TOTAL | 3089.91 | 2179.39 |
| BALANCE | 2251.40 | 2267.66 |
| WORKING CAPITAL | ||
| Interest Received | 1.23 | 0.56 |
| Cash in Hand | 1204.30 | 1234.78 |
| Stock in Hand | 1028.87 | 1028.87 |
| TOTAL | 2251.40 | 2267.66 |
| STATEMENT OF ASSETS |
| Position as at 31st March 2013 |
| OPENING BALANCE | 3144.83 | 4262.90 |
| Acquisitions | 49.4 | 81.13 |
| Depreciation | 136.92 | 154.04 |
| Disposals | 0.00 | 1434.56 |
| CLOSING BALANCE | 3057.40 | 3144.83 |
| Working Capital | 2251.40 | 2267.66 |
| Value of Collection | 29056.09 | 26021.24 |
| Current Assets | 212.58 | 153.50 |
| Fixed Assets | 3057.40 | 3144.83 |
| TOTAL ASSETS | 34577.47 | 31587.23 |
