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2008 Annual Report

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Play & Learning
Contents
01 Vision
02 Mission
03 Markets
04 Technology
05 Business
06 Financial statements
Message from the Director
The Science Museum matters. At a time of
rapid and radical change, when humans
have become a force on a global scale,
where better to find insight and

Summer 2009 will be an important time for

inspiration?

the Science Museum, marking the start of
our Centenary year. This will be an

Our unrivalled collections show the power

opportunity to celebrate this important

of human ingenuity and enterprise. We tell

milestone for the Science Museum and

stories not just of science, engineering

milestones in innovation and invention.

and medicine, but of the creative industries

I look forward to announcing the new

and businesses they underpin. We cover

galleries, exciting programmes and

issues that are important to everyone, now

captivating events which will

and in the future.

commemorate this special occasion.

Our aim is to make the Science Museum

In 2007-08 we welcomed almost 4.5 million

the best place in the world for people to

visitors to our museum, the highest

enjoy science. This commitment drives

visitor figures since free admission. Our

everything we do. The Science Museum’s

learning programmes continue to reach

staff are leaders in science communication

record numbers of children across the UK,

and learning, giving the Science Museum

both at the museum and through our

an international reputation. But we plan to

outreach programmes.

go further, establishing new ways of
making meaningful connections between
our visitors and our collection.

A particular highlight was the
redevelopment and opening of the new
Launchpad children’s gallery, specifically
designed to make Physics more accessible
to 8-14 year olds; we were delighted to
welcome the Prime Minister, George Brown
to open the gallery in November 2007.
Improving the care of, and access to, our
collections is very important to Science
Museum. I was delighted that our exciting

The Science Museum has now completed

plan to create an inspiring collections

the first year of its development

centre and visitor attraction at our Science

programme and we are well on track

Museum Swindon site – called Inspired

towards realising our vision to be the most
admired museum in the world.

Professor Chris Rapley CBE
Director of the Science Museum
18 July 2009

2008 Annual Report 2
Overview
The Science Museum has over 300,000
objects in its care, with particular
strengths in the history of Western
science, technology and medicine since
1700. It has been uniquely placed to
acquire objects recording the Industrial
Revolution, and now holds unrivalled
collections in this area. Medical artefacts
from all periods and cultures also form an
important part of its holdings. The Science
Museum Library & Archives is a major
research library of the history and public
understanding of science and engineering,
which is freely available to the public. It
contains half a million items, including
many which are rare or unique, such as a
first edition of Sir Isaac Newton’s Principia
Mathematica, a signed copy of Albert
Einstein’s General Theory of Relativity,
the personal archive of Barnes Wallis and
a copy of the Apollo 11 flight plan signed
by Neil Armstrong and Buzz Aldrin. From
the Industrial Revolution to the year 2000,
Making the Modern World contains a
peerless display of original iconic objects
which have shaped our society.

“Learning is at the heart of the Science
Museum, making it one of the most
popular school-trip destinations in Britain,
with a global reputation too”

Uniform Polyheora

3 Play & Learning
Steam power has driven Britain’s
industry for 300 years, and still meets
75% of our energy needs today. The
Energy Hall showcases an unparalleled

What’s more, we develop and deliver

collection of historic full-size engines and

a range of continuing professional

models. The Antenna gallery reports on

development (CPD) opportunities for

what’s new and hot in science. Visitors

educators as part of our partnership with

Using multi-sensory technology Pattern

can check out the latest technology and

the Science Learning Centre London. Our

Pod encourages children to recognise and

meet scientists during the school holidays.

Learning and Education teams are regular

copy patterns – or create entirely new ones

Part of the ongoing Science Museum Arts

contributors to the education and lifestyle

of their own. For the youngest budding

Projects, and presented by The Art Fund,

press, commenting on such diverse topics

Einsteins, The Garden is the place to be.

Listening Post is a ‘dynamic portrait’

as science toys and how to explain the

Playing is just another way of learning and

of online communication, displaying

inner workings of the body.

The Garden is ideal for 3 to 6 year-olds

uncensored fragments of text, sampled in

to discover science in an exciting, multi-

real-time, from public internetchatrooms

Rockets, satellites, space probes and

and bulletin boards. Learning is at

landers are all to be found in Exploring

the heart of the Science Museum,

Space. Visitors can find out about

With a screen taller than four double-

making it one of the most popular

Sputnik, the world’s first satellite, and

decker buses, state-of-the-art 3D

school-trip destinations in Britain, with

how we have subsequently launched

technology and wraparound sound,

a global reputation too.

thousands of satellites around Earth,

the Science Museum IMAX 3D Cinema

sent spacecraft to other planets, walked

transports audiences deep into t he action.

The Learning team help teachers take

on our Moon and peered into the heart of

It runs a daily schedule of largeformat

science beyond the classroom and turn

our galaxy and beyond.Launchpad is for

3D and 2D films, with current favourites

it into a thrilling learning experience for

8 to 14 year-olds and packed with over

including Deep Sea 3D, Fly Me to the Moon

primary and secondary students. When

50 interactive exhibits, plus electrifying

3D and Space Station 3D. Legends of the

students visit the Museum, curriculum-

shows and lively demos, all from the

Sky 3D opens in 2009.

based events help boost their learning

wonderful world of physics. Pattern Pod

through memorable live demonstrations.

is a hands-on gallery that was created

Our diverse and creative resources can

especially for 5 to 8 year-olds.

sensory environment.

be used in the Museum and for homework
and science clubs.

2008 Annual Report 4
Achievements
“The Museum received more visitors
than it has done in the last three years
with the total of 2,604,612 and the
number of educational visits
rose to 317,112”

5 Play & Learning
It was an exciting year all round.
The Museum received more visitors than
it has done in the last three years with the
total of 2,604,612 and the number of
educational visits rose to 317,112. There
was a parallel increase in commercial
activity with the IMAX cinema and the
Museum store breaking all trading records.
The Museum’s website continued its
year-on-year upward trend in visits, with
over 8.1 million visits this year.
The Science Museum Swindon also
increased its visitor figures this year to
49,283. The Science Museum Swindon
became one of six visionary projects to
progress to the next stage of the Big Lottery
Fund’s Living Landmarks: The People’s
Millions programme. It secured a £500,000
development grant to be used towards
the cost of developing the project through
to stage two by May 2009.
The six shortlisted projects will compete for
a single Lottery grant, with the winning
project to be decided by a televised public
vote in late 2009. Another coup for the
Museum was the publication of the critically
acclaimed Giant Leaps in Novecmber. The
book combines the Sun’s headline writing
skills with the Museum’s expertise in
presenting the greatest developments in
the history of science. Endorsers included
Buzz Aldrin, Sir David Attenborough and
Professor Colin Blakemore, with the Prime
Minister himself reading from the book at a
Royal Society conference.

Hyperbolic Paraboloid

Elliptic Paraboloid

Cone in two sheets

2008 Annual Report 6
Activities
During the year audiences were treated
to a wide range of exhibitions. Pixar: 20
years of Animation was the first in a
series of family-oriented exhibitions,
exploring the art and science of animated
films such as Toy Story and Cars. The
successful Game On spanned the history
of computer gaming and technology, also
examining the culture of gaming.
The year also saw members of the public
taking part in exhibition curating for the
first time ever in the Museum’s history.
Playing with Science showcased
visitors’ toys alongside objects from
the Museum’s own collections such as a
1930s chemistry set that once belonged
to King George V. The Museum also
celebrated the bicentenary of the birth
of Isambard Kingdom Brunel with
Isambard Kingdom Brunel: Fame and
Fate, an exhibition examining the
engineer through some of the most
iconic photographs taken of him. Issues
of contemporary science were also
addressed through the cutting-edge
Antenna exhibition series, which
included NEURObotics… the future of
thinking? exploring the effect medical
technology can have on the human brain.

Stellation

7 Play & Learning
The Museum’s collections information
team carried out extensive work to
improve the quantity and quality of
collections documentation data.
Fundamental research into the

The Dana Centre continued its public

collections resulted in a book on

engagement work through innovative

penicillin by one of the senior curators

events such as the Cybersonica digital

and a display of key items from the

arts festival and Fairground: Thrill

astronomy collections. The Museum

Laboratory where participants could

also received its licence from the Human

learn about the science behind fear

Tissue Authority for the storage and

and excitement, and experience the

display of human remains, and continues

fairground rides themselves. Other

to ensure that all its collections meet the

highlights included witnessing a live

requirements of the current legislation.

kidney transplant for the first time in
the UK and Drugsfutures, part of the
Academy of Sciences public consultation
project. During the year the Dana Centre
also developed its first audience-led
events in partnership with the Chinese
community in London.
An impressive number of people, from
nursery groups to adults, took part
in the Museum’s schools and outreach
programme. The team continued
to offer some of its most successful
programmes such as the Creative
Canal project, which engages with
disadvantaged groups along the
Regent’s Canal. New projects include

“The year also saw members of

an outreach programme to support

the public taking part in exhibition

Launchpad, the Museum’s hands-on

curating for the first time ever in the

interactive gallery, and a programme

Museum’s history”

about waste management for Key
Stage 3 students in association with
SITA and DEFRA.

2008 Annual Report 8
NATIONAL MUSEUM OF SCIENCE & INDUSTRY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR
ENDED 31 MARCH 2007
Notes

Incoming resources
Incoming resources from generated funds
Voluntary income
Grant in Aid from DCMS
Grants, legacies and donations
Activities for generating funds
Income from commercial activities
Rental income from operating leases
Investment income
Incoming resources from charitable activities
Lottery income
Sponsorship
Other income

2007
unrestricted
funds
£000

2007
restricted
funds
£000

2007
endow
ment
£000

2007
total
£000

35,322
159

1,375
5,284

-

36,697
5,443

34,093
5,065

2
2
5

13,966
459
362

-

3

13,966
459
365

13,466
487
199

2
2
4

469
2,741

627
1,765
-

-

627
2,234
2,741

664
2,015
1,880

53,478

9,051

3

62,532

57,849

Resources expended
Costs of generating funds
Costs of generating voluntary income
Commercial costs [fundraising trading:
cost of goods sold and other]

3,425

281

-

3,706

3,137

13,437

Charitable activities
Care for and research into collections
Science education and communication
Visitor services
Governabce costs
Total resource expended
National costs of capital

-

-

13,437

14,678

11,077

Net movement in funds
Fund balances brought forward at 01.04.06
Fund balances carried foward at 31.03.07

15,451

13,302

-

24,168
12,168
365
69,358
4,895

22,079
11,474
391
65,061
4,971

19,913

-

74,253

70,032

[862]
455
1,153

[10,862]
1,977
3,742

3
-

[11,721]
2,432
4,895

[12,183]
17,445
4,971

[5,143]
237,387

10,233
253,885

232,244

3
87
90

[4,394]
264,118

27,390

10

-

8,991
2,525
16,171
3,742

746
26,644

6
8

4,374

15,177
9,706
365
53,187
1,153
54,340

Total resource expended including
notional costs
Net incoming/[outgoing] resourses
Gain/[Loss] on revaluation of assets
Reversal of notional costs

259,724

264,118

Total incoming resources
2007
restricted
funds

9,051

2007
endow
ment

3

2007
unrestricted
funds 53,478

2006
total 57,849

9 Play & Learning

£000

[restated,
see note23]

2
3

Total incoming resources

2007
total 62,532

2006
total
NATIONAL MUSEUM OF SCIENCE & INDUSTRY
BALANCE SHEETS AS AT 31 MARCH 2007
CONSOLIDATED BALANCE SHEET
Notes

MUSEUM BALANCE SHEET

2006 £000

2007 £000

2007 £000

[restated, see note 23]

Fixed asserts
Intangible assets
Tangible assets
Heritage assets
Investments

9
10
11

14

2006 £000
[restated, see note 23]

3
242,056
12,827
254,886

8
249,810
11,560
261,378

235,704
12,827
411
248,942

243,003
11,560
411
254,974

605
5,914
8,500
57

620
7,558
5,000
412

8,203
8,500
[541]

9,585
5,000
305

15,076

13,590

16,252

14,890

[6,521]

[6,603]

[4,716]

[4,568]

8,555
263,441
[2,910]

6,987
268,365
[3,157]

11,536
260,478
[533]

10,332
265,296
[583]

[807]

[1,090]

[807]

[1,090]

Net assets

259,724

264,118

259,138

263,623

Represented by:
Resticted funds
Sponsorship, Grants and
Donations Reserve
Revaluation Reserve
Capital Projects Fund

22,169
205,615
232,244

21,805
211,216
237,387

22,169
205,615
232,244

21,805
211,216
237,387

4,581
79
3,272
17,727
645
200

3,892
119
2,902
18,688
623
100

4,581
79
2,040
17,717
645
200

3,892
119
1,670
18,688
623
100

Creditors: amounts falling due
within one year
Net assets
Total assets less current libilities
Creditors: amounts falling
15.2
due after one year
Provision for liability and charges
Early Retirement provision
17

19.1

Unrestricted funds
Designated funds
Museum Improvement Reserve
Collections Purchase Fund
Revaluation Reserve
Capital Projects Fund
Contingency Fund
Post Office Building Purchase Reserve

General funds

Total income funds
Endowment Funds
Total Funds

Investments

886

320

1,532

1,057

19.2

27,390

26,644

26,804

26,149

19.2

259,390
90
259,724

264,031
87
264,118

259,048
90
259,138

263,536
87
263,623

Total funds
264,118

261,378

259,974

259,138

254,974

254,886

263,623

248,942

07

06

Consolidated Balance Sheet

07

06

Museum Balance Sheet

07

06

Consolidated Balance Sheet

07

06

Museum Balance Sheet

2008 Annual Report 10
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  • 2. Contents 01 Vision 02 Mission 03 Markets 04 Technology 05 Business 06 Financial statements
  • 3. Message from the Director The Science Museum matters. At a time of rapid and radical change, when humans have become a force on a global scale, where better to find insight and Summer 2009 will be an important time for inspiration? the Science Museum, marking the start of our Centenary year. This will be an Our unrivalled collections show the power opportunity to celebrate this important of human ingenuity and enterprise. We tell milestone for the Science Museum and stories not just of science, engineering milestones in innovation and invention. and medicine, but of the creative industries I look forward to announcing the new and businesses they underpin. We cover galleries, exciting programmes and issues that are important to everyone, now captivating events which will and in the future. commemorate this special occasion. Our aim is to make the Science Museum In 2007-08 we welcomed almost 4.5 million the best place in the world for people to visitors to our museum, the highest enjoy science. This commitment drives visitor figures since free admission. Our everything we do. The Science Museum’s learning programmes continue to reach staff are leaders in science communication record numbers of children across the UK, and learning, giving the Science Museum both at the museum and through our an international reputation. But we plan to outreach programmes. go further, establishing new ways of making meaningful connections between our visitors and our collection. A particular highlight was the redevelopment and opening of the new Launchpad children’s gallery, specifically designed to make Physics more accessible to 8-14 year olds; we were delighted to welcome the Prime Minister, George Brown to open the gallery in November 2007. Improving the care of, and access to, our collections is very important to Science Museum. I was delighted that our exciting The Science Museum has now completed plan to create an inspiring collections the first year of its development centre and visitor attraction at our Science programme and we are well on track Museum Swindon site – called Inspired towards realising our vision to be the most admired museum in the world. Professor Chris Rapley CBE Director of the Science Museum 18 July 2009 2008 Annual Report 2
  • 4. Overview The Science Museum has over 300,000 objects in its care, with particular strengths in the history of Western science, technology and medicine since 1700. It has been uniquely placed to acquire objects recording the Industrial Revolution, and now holds unrivalled collections in this area. Medical artefacts from all periods and cultures also form an important part of its holdings. The Science Museum Library & Archives is a major research library of the history and public understanding of science and engineering, which is freely available to the public. It contains half a million items, including many which are rare or unique, such as a first edition of Sir Isaac Newton’s Principia Mathematica, a signed copy of Albert Einstein’s General Theory of Relativity, the personal archive of Barnes Wallis and a copy of the Apollo 11 flight plan signed by Neil Armstrong and Buzz Aldrin. From the Industrial Revolution to the year 2000, Making the Modern World contains a peerless display of original iconic objects which have shaped our society. “Learning is at the heart of the Science Museum, making it one of the most popular school-trip destinations in Britain, with a global reputation too” Uniform Polyheora 3 Play & Learning
  • 5. Steam power has driven Britain’s industry for 300 years, and still meets 75% of our energy needs today. The Energy Hall showcases an unparalleled What’s more, we develop and deliver collection of historic full-size engines and a range of continuing professional models. The Antenna gallery reports on development (CPD) opportunities for what’s new and hot in science. Visitors educators as part of our partnership with Using multi-sensory technology Pattern can check out the latest technology and the Science Learning Centre London. Our Pod encourages children to recognise and meet scientists during the school holidays. Learning and Education teams are regular copy patterns – or create entirely new ones Part of the ongoing Science Museum Arts contributors to the education and lifestyle of their own. For the youngest budding Projects, and presented by The Art Fund, press, commenting on such diverse topics Einsteins, The Garden is the place to be. Listening Post is a ‘dynamic portrait’ as science toys and how to explain the Playing is just another way of learning and of online communication, displaying inner workings of the body. The Garden is ideal for 3 to 6 year-olds uncensored fragments of text, sampled in to discover science in an exciting, multi- real-time, from public internetchatrooms Rockets, satellites, space probes and and bulletin boards. Learning is at landers are all to be found in Exploring the heart of the Science Museum, Space. Visitors can find out about With a screen taller than four double- making it one of the most popular Sputnik, the world’s first satellite, and decker buses, state-of-the-art 3D school-trip destinations in Britain, with how we have subsequently launched technology and wraparound sound, a global reputation too. thousands of satellites around Earth, the Science Museum IMAX 3D Cinema sent spacecraft to other planets, walked transports audiences deep into t he action. The Learning team help teachers take on our Moon and peered into the heart of It runs a daily schedule of largeformat science beyond the classroom and turn our galaxy and beyond.Launchpad is for 3D and 2D films, with current favourites it into a thrilling learning experience for 8 to 14 year-olds and packed with over including Deep Sea 3D, Fly Me to the Moon primary and secondary students. When 50 interactive exhibits, plus electrifying 3D and Space Station 3D. Legends of the students visit the Museum, curriculum- shows and lively demos, all from the Sky 3D opens in 2009. based events help boost their learning wonderful world of physics. Pattern Pod through memorable live demonstrations. is a hands-on gallery that was created Our diverse and creative resources can especially for 5 to 8 year-olds. sensory environment. be used in the Museum and for homework and science clubs. 2008 Annual Report 4
  • 6. Achievements “The Museum received more visitors than it has done in the last three years with the total of 2,604,612 and the number of educational visits rose to 317,112” 5 Play & Learning
  • 7. It was an exciting year all round. The Museum received more visitors than it has done in the last three years with the total of 2,604,612 and the number of educational visits rose to 317,112. There was a parallel increase in commercial activity with the IMAX cinema and the Museum store breaking all trading records. The Museum’s website continued its year-on-year upward trend in visits, with over 8.1 million visits this year. The Science Museum Swindon also increased its visitor figures this year to 49,283. The Science Museum Swindon became one of six visionary projects to progress to the next stage of the Big Lottery Fund’s Living Landmarks: The People’s Millions programme. It secured a £500,000 development grant to be used towards the cost of developing the project through to stage two by May 2009. The six shortlisted projects will compete for a single Lottery grant, with the winning project to be decided by a televised public vote in late 2009. Another coup for the Museum was the publication of the critically acclaimed Giant Leaps in Novecmber. The book combines the Sun’s headline writing skills with the Museum’s expertise in presenting the greatest developments in the history of science. Endorsers included Buzz Aldrin, Sir David Attenborough and Professor Colin Blakemore, with the Prime Minister himself reading from the book at a Royal Society conference. Hyperbolic Paraboloid Elliptic Paraboloid Cone in two sheets 2008 Annual Report 6
  • 8. Activities During the year audiences were treated to a wide range of exhibitions. Pixar: 20 years of Animation was the first in a series of family-oriented exhibitions, exploring the art and science of animated films such as Toy Story and Cars. The successful Game On spanned the history of computer gaming and technology, also examining the culture of gaming. The year also saw members of the public taking part in exhibition curating for the first time ever in the Museum’s history. Playing with Science showcased visitors’ toys alongside objects from the Museum’s own collections such as a 1930s chemistry set that once belonged to King George V. The Museum also celebrated the bicentenary of the birth of Isambard Kingdom Brunel with Isambard Kingdom Brunel: Fame and Fate, an exhibition examining the engineer through some of the most iconic photographs taken of him. Issues of contemporary science were also addressed through the cutting-edge Antenna exhibition series, which included NEURObotics… the future of thinking? exploring the effect medical technology can have on the human brain. Stellation 7 Play & Learning
  • 9. The Museum’s collections information team carried out extensive work to improve the quantity and quality of collections documentation data. Fundamental research into the The Dana Centre continued its public collections resulted in a book on engagement work through innovative penicillin by one of the senior curators events such as the Cybersonica digital and a display of key items from the arts festival and Fairground: Thrill astronomy collections. The Museum Laboratory where participants could also received its licence from the Human learn about the science behind fear Tissue Authority for the storage and and excitement, and experience the display of human remains, and continues fairground rides themselves. Other to ensure that all its collections meet the highlights included witnessing a live requirements of the current legislation. kidney transplant for the first time in the UK and Drugsfutures, part of the Academy of Sciences public consultation project. During the year the Dana Centre also developed its first audience-led events in partnership with the Chinese community in London. An impressive number of people, from nursery groups to adults, took part in the Museum’s schools and outreach programme. The team continued to offer some of its most successful programmes such as the Creative Canal project, which engages with disadvantaged groups along the Regent’s Canal. New projects include “The year also saw members of an outreach programme to support the public taking part in exhibition Launchpad, the Museum’s hands-on curating for the first time ever in the interactive gallery, and a programme Museum’s history” about waste management for Key Stage 3 students in association with SITA and DEFRA. 2008 Annual Report 8
  • 10. NATIONAL MUSEUM OF SCIENCE & INDUSTRY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2007 Notes Incoming resources Incoming resources from generated funds Voluntary income Grant in Aid from DCMS Grants, legacies and donations Activities for generating funds Income from commercial activities Rental income from operating leases Investment income Incoming resources from charitable activities Lottery income Sponsorship Other income 2007 unrestricted funds £000 2007 restricted funds £000 2007 endow ment £000 2007 total £000 35,322 159 1,375 5,284 - 36,697 5,443 34,093 5,065 2 2 5 13,966 459 362 - 3 13,966 459 365 13,466 487 199 2 2 4 469 2,741 627 1,765 - - 627 2,234 2,741 664 2,015 1,880 53,478 9,051 3 62,532 57,849 Resources expended Costs of generating funds Costs of generating voluntary income Commercial costs [fundraising trading: cost of goods sold and other] 3,425 281 - 3,706 3,137 13,437 Charitable activities Care for and research into collections Science education and communication Visitor services Governabce costs Total resource expended National costs of capital - - 13,437 14,678 11,077 Net movement in funds Fund balances brought forward at 01.04.06 Fund balances carried foward at 31.03.07 15,451 13,302 - 24,168 12,168 365 69,358 4,895 22,079 11,474 391 65,061 4,971 19,913 - 74,253 70,032 [862] 455 1,153 [10,862] 1,977 3,742 3 - [11,721] 2,432 4,895 [12,183] 17,445 4,971 [5,143] 237,387 10,233 253,885 232,244 3 87 90 [4,394] 264,118 27,390 10 - 8,991 2,525 16,171 3,742 746 26,644 6 8 4,374 15,177 9,706 365 53,187 1,153 54,340 Total resource expended including notional costs Net incoming/[outgoing] resourses Gain/[Loss] on revaluation of assets Reversal of notional costs 259,724 264,118 Total incoming resources 2007 restricted funds 9,051 2007 endow ment 3 2007 unrestricted funds 53,478 2006 total 57,849 9 Play & Learning £000 [restated, see note23] 2 3 Total incoming resources 2007 total 62,532 2006 total
  • 11. NATIONAL MUSEUM OF SCIENCE & INDUSTRY BALANCE SHEETS AS AT 31 MARCH 2007 CONSOLIDATED BALANCE SHEET Notes MUSEUM BALANCE SHEET 2006 £000 2007 £000 2007 £000 [restated, see note 23] Fixed asserts Intangible assets Tangible assets Heritage assets Investments 9 10 11 14 2006 £000 [restated, see note 23] 3 242,056 12,827 254,886 8 249,810 11,560 261,378 235,704 12,827 411 248,942 243,003 11,560 411 254,974 605 5,914 8,500 57 620 7,558 5,000 412 8,203 8,500 [541] 9,585 5,000 305 15,076 13,590 16,252 14,890 [6,521] [6,603] [4,716] [4,568] 8,555 263,441 [2,910] 6,987 268,365 [3,157] 11,536 260,478 [533] 10,332 265,296 [583] [807] [1,090] [807] [1,090] Net assets 259,724 264,118 259,138 263,623 Represented by: Resticted funds Sponsorship, Grants and Donations Reserve Revaluation Reserve Capital Projects Fund 22,169 205,615 232,244 21,805 211,216 237,387 22,169 205,615 232,244 21,805 211,216 237,387 4,581 79 3,272 17,727 645 200 3,892 119 2,902 18,688 623 100 4,581 79 2,040 17,717 645 200 3,892 119 1,670 18,688 623 100 Creditors: amounts falling due within one year Net assets Total assets less current libilities Creditors: amounts falling 15.2 due after one year Provision for liability and charges Early Retirement provision 17 19.1 Unrestricted funds Designated funds Museum Improvement Reserve Collections Purchase Fund Revaluation Reserve Capital Projects Fund Contingency Fund Post Office Building Purchase Reserve General funds Total income funds Endowment Funds Total Funds Investments 886 320 1,532 1,057 19.2 27,390 26,644 26,804 26,149 19.2 259,390 90 259,724 264,031 87 264,118 259,048 90 259,138 263,536 87 263,623 Total funds 264,118 261,378 259,974 259,138 254,974 254,886 263,623 248,942 07 06 Consolidated Balance Sheet 07 06 Museum Balance Sheet 07 06 Consolidated Balance Sheet 07 06 Museum Balance Sheet 2008 Annual Report 10