REPORT AND ACCOUNTS 2015/2016
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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:-
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.
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
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 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 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.
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.
|Gift Shop Sales||0.00||85.69|
|Stock in Hand||1927.73||1002.32|
|Cash In Hand||1328.33||1251.73|
|Purchase of Fixed Assets||894.02||560.62|
|Cash in Hand||1927.73||1327.73|
|Stock in Hand||1002.32||1002.32|
|STATEMENT OF ASSETS|
|Position as at 31st March 2016|
|Value of Collection||34338.68||32482.26|