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REPORT AND ACCOUNTS 2015/2016


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Stone, DARTFORD
Kent DA2 6DN
ENGLAND
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Strategy

We approached Dartford Borough Council in August 2015 to enquire about purchasing a plot of land from them at their Stone Lodge site. According to their Head of Legal Services the Council intends to sell off the whole of the site to developers but have decided that 2/3rd of the land must remain as public amenity land.

This now means that we must wait for the Council to formally advertise the land for sale and bid for the plot we are interested in against potential competitors in other leisure and recreational industries. This is a major blow to the Museum as it will mean that the price will be based on market values and the cost may therefore be prohibitive to us.

If this does prove to be the case, we do still have a number of alternative options open to us:-

Consideration has been given to all these options and conclusions are as follows:-

Options 3 and 4 therefore seem to be the most feasible and we shall be pursuing these during the coming year.

Operations

The number of rocks, fossils, minerals and meteorites in the collection exceeds 3100 specimens with a further 500 geologically related items comprising models, pictures and memorabilia to help with specimen display, context and interpretation.

The number of visitors to our website now stands at almost 16,000.

Our library holdings total over 1300 books, magazines and leaflets and our electronic news archive contains almost 18,000 articles.

The number of private and corporate benefactors and supporters of the Museum is now over 80.

Finance

Donations were up 41.1% over 2014/15 with costs up by only 17.9%.

Fixed assets increased in value by 15.8% while total assets (including the value of the Museum collection) showed an overall growth of 7.9%.

Operating costs were down 4.5% over 2014/15.

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 2016 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 2016

2015/20162014/2015
INCOME (£)
Donations3075.642603.21
Gift Shop Sales0.0085.69
Stock in Hand1927.731002.32
Cash In Hand1328.331251.73
Interest Received2.020.60
TOTAL6005.594943.55

EXPENDITURE
Acquisitions1061.14874.83
Purchase of Fixed Assets894.02560.62
Operating Costs1124.361177.45
TOTAL3079.522612.90

BALANCE2926.072330.65

WORKING CAPITAL
Interest Received2.020.60
Cash in Hand1927.731327.73
Stock in Hand1002.321002.32
TOTAL2926.072330.65

STATEMENT OF ASSETS
Position as at 31st March 2016

OPENING BALANCE3855.313493.58
Acquisitions894.02560.62
Depreciation283.49198.89
CLOSING BALANCE4465.853855.31

Working Capital2926.072330.65
Value of Collection34338.6832482.26
Current Assets229.78212.76
Fixed Assets4465.853855.31
TOTAL ASSETS41960.3738880.98


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