Down

REPORT AND ACCOUNTS 2013/2014


Stone Museum of GeologyThis document is also available as a PDF file
48 Milestone RoadClick Here to view (File size 831kb)
Stone, DARTFORD
Kent DA2 6DN
ENGLAND
Click the icon below if you would like to download the
latest version of Adobe Acrobat Reader
Get Adobe Acrobat Reader


Forward

Operations

Operations

The museum is pleased to report the acquisition of the following major items during 2012:

  • a replica set of flint tools from California, USA to supplement our Early Human displays;
  • a bust of the young Charles Darwin from an artist in Illinois, USA;
  • a working model of a Pumpjack (Nodding Donkey) from a dealer in Pennsylvania, USA to complement our display of the economic geology of the British Isles;
  • A perfect replica of the Cullinan 1 diamond Star of Africa from a jeweler in Devon; and
  • A Victorian photographic print of the Sussex Doctor Gideon Mantell, discoverer of the Iguanodon dinosaur.

    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


    Notes to the Accounts


    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.

    Breakdown of expenditure

    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 assetMaximum period
    Computer equipment10 years
    Laboratory and display equipment20-40 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.


    Balance Sheet

    Position as at 31st March 2014

    2012/20132011/12
    INCOME ()
    Donations3106.912179.39
    Gift Shop Sales0.003.45
    Stock in Hand1028.871028.87
    Cash In Hand1204.301234.78
    Interest Received1.230.56
    TOTAL5341.314447.05

    EXPENDITURE
    Acquisitions2696.751684.22
    Purchase of Fixed Assets49.9881.13
    Operating Costs312.23364.04
    Exceptional Items0.0050.00
    TOTAL3089.912179.39

    BALANCE2251.402267.66

    WORKING CAPITAL
    Interest Received1.230.56
    Cash in Hand1204.301234.78
    Stock in Hand1028.871028.87
    TOTAL2251.402267.66

    STATEMENT OF ASSETS
    Position as at 31st March 2013

    OPENING BALANCE3144.834262.90
    Acquisitions49.481.13
    Depreciation136.92154.04
    Disposals0.001434.56
    CLOSING BALANCE3057.403144.83

    Working Capital2251.402267.66
    Value of Collection29056.0926021.24
    Current Assets212.58153.50
    Fixed Assets3057.403144.83
    TOTAL ASSETS34577.4731587.23


    Site Map Top
    [Report & Accounts Menu]