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2023-12-31-accounts

THE BRUNEL MUSEUM A Company Limited by Guarantee Annual Report and Financial Statements For the Year Ended 31 December 2023 Registered Company Number 02488877 Charity Number 1003287 The Brunel Museum Company Number 02488877 Page I

Contents Reference and Administrdtive Details.............................................................................................................................. Chair's Report........................................................................................................................................................................ Trustees, Report.................................................................................................................................................................... Independent Examiner's ReporL........................................................................................................................................ Statement of Financial Activities ........................................................................................................................................ Balance Sheet....................................................................................................................................................................... l O Notes to the Financial Starements................................................................................................................................. General Information........................................................................................................................................... Principal Accounting Policies............................................................................................................................ Income From Charitable Activities................................................................................................................. 14 Project Income..................................................................................................................................................... 14 Income from Other Trading Activities.......................................................................................................... 14 Other Income ................................................................ 14 Fundr2ising Costs. Charitable Activities Costs... 15 15 Support Costs......................................................................................................................................................15 Project Expenditure.......................................................................................................................................16 Trustees. Remuneration............................................................................................................................... 16 10. 12. Staff Costs........................................................................................................................................................ 16 Tangible Fixed Assets.................................................................................................................................... 17 Stocks................................................................................................................................................................ 17 14. 15. Debtors............................................................................................................................................................. 17 16. Creditors.... 18 17. Unrestricted Funds An21ysis............................................................. Restricted Fund Analysis ................................................................... Allocation of Net Assets Between Funds................................................................................................. 20 18 18. 19 19. 20. Pension Commitments.................................................................................................................................. 20 21. Operating Lease Commitments.................................................................................................................. 20 Related Parry Transactions.......................................................................................................................... 20 Control............................................................................................................................................................. 22. 23. 24. Comparative Statement of Financial Activities........................................................................................ The Brunel Museum Company Number 02488877 Page 2

Reference and Administrative Details For the Year Ended 31 December 2023 Trustees R A Davies MCHeap T G Grimwade N A Mansell S Mukherjee M P Nolan AJSRoss Fcscott D B Skelley C N Smith AESwift Resigned 30 June 2023 Appointed 6 December 2023 Resigned 30 June 2023 Appointed 6 December 2023 Secretary M P Nolan Advisors E Bazalgette J Elton Charity Number 1003287 Company Number 02488877 Accredited Museum 1961 Registered Office Brunel Engine House Railway Avenue London SE164LF Independent Examiner Azets 2nd Floor, Regis House 45 King William Street London EC4R 9AN Bankers HSBC Redriff Road London SE167LL The Brunel Museum Company Number 02488877 Page 3

Chair's Report For the Year Ended 31 December 2023 2023 has been an exceptionally exciting and evenrful year for the Brunel Museum with over 7.000 people visiting in person, a packed events and exhibition5 programme and the fantastic ream picking up several well- deserved awards. I would like to note my thanks for all the hard work from our volunteers, staff. trustees and Director, Katherine McAlpine. We are also reliant on the supporc of the many funders and visitors whose generosity underpins much of the work on the Museum. This is my first year as Chair of Board of Trustees, and l am particularly grateful to Dana Skelley who stood down as Chair in June 2023. Dana chaired the Museum for her three-year term through the particularly challenging period of the pandemic. The trustees and sraff all benefited from her leadership. and l am grateful to Dana for such a smooth governance handover when she retired. One further long-standing trustee, Tiffany Grimvrnde, also completed her terni in June. Tiffany was instrument21 in the development of our exciting National Lottery Heritage Fund funded capital project that will be shortly getting underway. On behalf of the Board. I note our grateful thanks to both Dana and Tiffany. Over the summer we ran a successful recruitment for severnl new trustees. with Sayak Mukherjee and Andy Swift joining the Board in December. With the addirion of three furrher trustees joining in early 2024, this will bring considerable expertise and experience to the B02rd as we look to the long-term future of the Museum and embark on the Brunel Re-invented Projecr to redevelop the site and museum spaces. Our engagement activities continue to go from strength to strength. We welcomed over 600 students via 21 school visics and 49 families took parc in the Tunnellers Club. In April we launched our Tales of Teredo Nav21is exhibition, which vrf2s followed by the Tunnelling Today exhibition in collaboration with Tideway, which runs into 2024. We hosted dozens of wonderful events. including a Windrush to Wapping event celebrating the contribution of the Windrush generation. and hosted Tim Bryan's book launch. Iron. Stone & Steam. We also delivered 19 tours. welcoming over 300 people. The Museum would not be able to function without our fantastic staff and volunteers, so it was p2rticu12rly pleasing that at the Cultural Enterprise Avnrds. our Event Producer Alicja Sobczak was awarded the Rising Star award and one of volunteers, Gill Howard was awarded Ourstanding Contribution. We have also started important work on our collections which will continue into 2024. making more information about the Museum collettions and rhe stories they tell available online. We are doing more and more online via our website and our digitisation volunteer has digitised over 500 historic phocographs. 2024 will no doubt be even more packed. with an exciting programme of events. tours. and exhibitions in the works, as well as the formal srart of the capital works likely in early 2025. R A Davies, Chair of Trustees 24 September 2024 The Brunel Museum Company Number 02488877 Page 4

Trustees, Report For the Year Ended 31 December 2023 The Board of Trustees hereby presents its annual report on the affairs of The Brunel Museum {"rhe Charity") together with the independently examined financial sratements for the year ended 31 December 2023. Structure, Governance and Management Constitution The Charity. registered number 1003287. is constituted as a comp2ny limited by guarantee, company number 2488877, and it is governed by its Memorandum and Articles of Association. The guarantee of individual members is limited to £5. Trustees The Trustees. who are also Directors for the purposes of the Companies Act 2006. who served during the year were - Richard Arthur Davies Tiffany Gabrielle Grimwade Michael Conrad Heap Nicholas Anthony Mansell Sayak Mukherjee Maureen Patricia Nolan Amy Jane Stockwell Ross Francis Caroline Scott Danielle Barbard Skelley Cheryl Naomi Smith Andrew Edward Swift {Chair) Resigned 30 June 2023 reasurer) Appointed 6 December 2023 (Secretary) Resigned 30 June 2023 Appointed 6 December 2023 No Trustee had any contract or arrdngement of a material nature with the Charity during the year under review. The Truscees are able to co-opt new Trustees and they do this to ensure that there is a balance of skills on the Board. New Trustees are provided with a ser of relevant documents when they join {5uch a5 the governing documents, recent accounts. recent minutes, 2nd guidance from the Charities Commission about the role of a Trustee). The Secretary. Museum Director and the Treasurer alert the trustees to any current developments as necessary at B02rd meetings. Public Benefit The Trustees have had regard to the guidelines issued by the Chariry Commission relating to public benefit and are satisfied that the charity confers a public benefiL The Brunel Museum exists to educate the public in the works of M2rc Brunel, 1s2mb2rd Kingdom Brunel, 2nd Henry Marc Brunel, particularly the construction of the Thames Tunnel. the SS Great Eastern. Hungerford Bridge and Tower Bridge. as well as to preserve and enhance the Engine House and Grand Entrance Hall for the public benefit. It furrher acrs to provide a recreational facility for local residents and for the public at large in Rotherhithe. Organisational Structure The policies and activities of the Charity are established and controlled by the Board of Trustees. The Brunel Museum Company Number 02488877 Page 5

Risk Management The Charity's objectives are subject to a rdnge of risks that are kept under review by the Trustees. General risks include financial sustainability, over reliance on single partner income streams. staff retention and safety and security. Steps have been Liken to mitigate these risks and the risk register is reviewed quarcerly and agreed signed off annually by Trustees. Objectives and Activities This is London's story of an engineering family that changed the world. The Charity's objectives are: l. To preserve and encourage the preservation for the public benefit of the Engine House and the Grand Entrance Hall situated in Rotherhithe StreeL Greater London and the precincts thereof by such means as may be necessary: to educate the public in the appreciation of the engineering works of Marc and Isambard Brunel. particularly che construction of the Thames Tunnel. and to publish and catalogue. leaflet or other material in connection therewith: and to provide 2 recre2tional facility for local residents and for the public at large at Rotherhithe 2nd, subjecc thereto. co generally enhance the surrounding conservation area. The Trustees agreed statement of purpose: '￿0 preserve and share widely the ground-breaking stories of the Thames Tunnel project and the outstonding achievements of the Brunel family and their relevance to our lives today. We inspire communities through exploration. learning and experience.: Financial Review The Trustees are pleased with the improving financial position of the Charity. driven by increases in both visitor numbers and the ongoing success of rhe commercial acciviues, with both our Museum shop and venue hire delivering outstanding results during the year. The balance between maint2ining the Museum opening hours with commercial opportunities for the site is one which is under constant review. with the Charity's strdtegic aims being met through providing a sound financial footing from which the Museum can grow and develop. The previously announced Brunel Reinvented projecc will significantly enhance the Museum site. wirh a new Welcome P2vilion together with a symp2thetic restor2tion of the Engine House 2nd provide a more welcoming and accessible experience for all our visitors. The project is expected to commence during 2025. The Trustees are confidenc that the Chariry is on the right path to financial sustainabiliry. Rese￿eS Policy Total reserves stand at £419,010, of which £318,883 are Restricted Funds designated by donors for specific purposes (see note 18 in these Accounts) and £41.085 are Reserves that have been designated by the Trustees (see note 17). The remaining £59.042 are Unrestricted Funds that can be used at the Trustees entire discretion to deliver the Museum's aims. Of the Restricted funds, £164,073 is the value of the Brunel drawings and other artefacts which are shown in the accounts within Fixed Assets. The Trustees have agreed a Resenrfes Policy. calculation of which is an integrdl part of the board's strategic planning, forecasting and risk managemenL The Trustees consider it appropriate to maintain rhe following: £29,984 as a Continuation Fund, sufficient to cover staff costs for the minimum periods of contractual employment and the running costs of the Museum for a period of three months. This The Brunel Museum Company Number 02488877 Page 6

three month operating reserve will ensure the Museum's core attivities can continue during a period of unforeseen difficulty and support trading through potential adversity. £3,000 as a Fund maintained to ensure the Trustees are able to secure the collettion in the event of closure of the Museum. The level of reserves will be monitored and reviewed by the Trustees on at least an annual basis. Any substantial call on. or contribution to reserves will be reported to Trustees and reserves will be reviewed should there be any significant change in the environment in which the Museum operate5. Statement of Trustees, Responsibilities The Chariry Trustees (who are also Directors for the purposes of The Companies Acr 2006) are responsible for preparing a Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in Eng12nd and Wales requires charity trustees to prepare financial statements for each financial year. Under that law. the trustees have elected to prepare the financial starements in accordance with the United Kingdom Generally Accepred Accounting Practice (United Kingdom Accounting Standards 2nd applicable law). Under Comp2ny12W. the Trustees must not 2pprove the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of che incoming resources and application of resources of the charitable company for that period. In preparing the financial statements the trustees are required to: Select suitable accounting policies and then apply them consistently: Make judgements and esrimates rhat are reasonable and prudenE State whether applicable accounting standards have been followed. subject to material departures disclosed and explained in the financial starements; Prepare the accounts on the going concern basis unless it is inappropriate to assume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention any detection of fraud and other irregularities. This report has been prepared in accordance wirh the Accounting and Reporting by Charities Statement of Recommended Practice. and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities. Signed on behalf of the rrustees by: R A Davies, Trustee and Chair 24 September 2024 The Brunel Museum Company Number 02488877 Page 7

Independent Examiner's Report I report to the charity trustees on my examination of the accounts of the company for the period ended 31 December 2023 which are set out on pages 9 to 21. Responsibilities and Basis of Report As the charity trustees of the company (and also its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent ex2min2rion, I report in respecc of my examinarion of your company's accounts 2s carried out under section 145 of the Charities Act 2011 ('the 201 l Att,). In carrying ouc my examination I have followed the Directions given by the Chariry Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matcers have come to my attention in connection with the examination giving me cause to believe that in any material respecL accounting records were not kept in respecc of the company as required by Section 386 of the 2006 the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a mat(er considered as part of an independent ex2min2tion; or the accounts have not been prepared in accordance with the methods and principles of the Ststement of Recommended Pr2Ctice for accounting and reporting by charities applic2ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- I have no concerns and have come across no other matcers in connecrion with the examination to which attention should be dr2wn in this report in order to enable a proper understanding of the accounts to be reached. John Howard (FCA) For and on behalf of Azets Audit Services Regis House 45 King William St London EC4R 9AN The Brunel Museum Company Number 02488877 Page 8

Statement of Financial Activities For the Year Ended 31 December 2023 2023 Note Restricted Unrestricted Total 2022 Income Donations Income from Charitable Attivities Income from Other Trading Other Income 7.907 46,029 107.905 (115) 161,726 7,907 82.241 107,905 (115) 197,938 4.776 229,383 36,212 3,213 349,288 Total Income 36.212 Expenditure Raising Funds Charitable Activities 105.382 105,382 90.164 143,829 195,547 249.211 108.494 116.068 224.563 53.664 53.664 Total Expenditure Profitl(Loss) for the Year (17,452) (33,821) {51,273) 124,726 Reconciliation of funds Funds Brought Forward Transfers Net Movement in the Year 17-19 337,106 (772) (17.452) 318,883 133,176 470,283 772 (33.821) {51,273) 100,127 419,010 345,557 124.726 470.283 Funds Carried Forward The Statement of Financial Attivities includes all gains and losses recognised in the year. All of the Charity's activities derived from continuing operations during the above two financial periods. The Notes from Page I I form parc of these financial statements. The Brunel Museum Company Number 02488877 Page 9

Balance Sheet As at 31 December 2023 2023 2022 Note Fixed Assets Current Assets Stock Debtors Cash Current Assets 13 184,250 187,356 14 6,638 34.381 291,886 332,905 (88,143) 244,762 (10,002) 419,010 979 28.336 321,394 350,709 {51,401) 299,308 {16,381) 470.283 Creditors Falling Due Within One Year Net Current Assets Creditors Falling Due MO￿ Than One Year Net Assets 16 16 Charity Funds Unrestricted 100,127 318,883 419,010 133,176 337.106 470,283 Rescricted 18 Total Charity Funds 19 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Secrion 476 of the Companies Acr 2006. The Trustees 2cknowledge their responsibilities for a) ensuring the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and. b) preparing financial statements which give a true and fair view of the state of affairs of the company as at che end of each financial year and of its surplus or deficit for each financial year in accordance wich the requirements of Settion 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the company. The financial statements have been prepared in accordance with the special provisions of Parc 15 of the Companies Act 2006 relating to small entiries. The financial statements were approved by the Trustees and signed on their behalf by: R A Davies. Trustee and Chair 24 September 2024 The Brunel Museum Company Number 02488877 Page 10

Notes to the Financial Statements General Information The Brunel Museum {"the Chariry") is a company limited by guarantee. It operates in accordance with the Memorandum and Articles of Association adopted on 4 March 2017. If the chariry is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. Its registered office and principal place of business is Brunel Engine House. Railway Avenue. London, SE16 4LF. The charity registration number is 1003287 and the company number 15 2488877. The chariry is incorporated in England and Wales. Principal Accounting Policies 2.1. Basis of preparation These accounts have been prepared for the year ended 31 December 2023. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or in the nores ro these accounts. The accounts have been prepared in 2ccordance with "Accounting 2nd Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial repor(ing standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)" The financial reporting stsndard applicable in the UK and Republic of Ireland {'FRS' 102), and the Charities Act 2011. The chariry constitutes as public benefit entiry as defined by FRS 102. The accounts are presented in Sterling and are rounded to the nearest pound. including table subtotals and totals which may mean that some tables do not casL 2.2. Critical Accounting Estimates and Areas of Judgement There are currently no significant judgements 2nd estimates m2de by the trustees in the preparation of the accounts. 2.3. Assessment of Going Concern The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these 2ccounts. The trustees have m2de this 2ssessment in respect to 2 period of one year from the date of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the abiliry of the chariry to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they f211 due. The financial statements h2ve therefore been prepared on the going concern b2SiS. 2.4. Cash Flow Ststement The accounts do not include a cash flow statement because the charity. as a small reporting entity, is exempt from the requirement to produce such a statement under Accounting and Reporcing by charities Statement of Flecommended Pr2Ctice (Charities SORP (FRS 102)). 2.5. Income Recognition All incoming resources are included in the Statement of Financial Attivities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to parricular categories of income: Voluntary income including core grants, membership, donations, and gifts is included in full in the Statement of Financial Activities when receivable. Accivicies for generating funds includes income received from the sale of goods in the shop. The Brunel Museum Company Number 02488877 Page I I

Incoming resources from charitable attivities includes income from performance fees and project grants. Grant income included in this category is recognised where there is entitlemen( certainty of receipt and the amount can be measured with sufPicienr reliability. Grants, where enritlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grnnL Income received from tours and admissions are recognised in full in the Statement of Financial Activities under Income received from Charitable activity. Investment income is included when receivable. Grants received for specific purposes are treated as restritted funds. Income is deferred when performance fees or grants are received in advance of the performance or event to which they relate. 2.6. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or construccive obligation committing the charity to make a payment ro a third party, it is probable thar a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is included in the accounts on an accruals b2sis and includes attributsble VAT which cannot be recovered. Expenditure is allocated to the particular activity on a direct basis or by allocation based on the level of direct expenditure re12ting to th2t activity. Expenditure comprises the following: a) The costs of charitable activities comprise expenditure related to the Charity's primary charitable purposes. Such costs include= Grants and donations Related 2dministration costs b) The cost of raising funds comprises expenditure related to the chariry. expenses in relacion to raising funds for the charity. Such costs include: Direct costs Related support costs c) Support costs are the costs associated with the governance arrangements of the charity and the general running of the chariry. Included within this category are costs associated with the strategic as opposed to day-to-day management of the chariry's acriviries. Supporc costs are allocated on the basis of time spent of these activities. 2.7. Tangible Fixed Assets The trustees have determined that the additional benefir ro members and other users of these accounts of researching the historic cost or of obt2ining v21ues for items in the Collection 2t l January 2001 does not justify the costs of such an exercise. Accordingly. items in the Collettion are carried at nil cost unless they have been purchased by the charity since l January 2001. Costs incurred in acquiring icems for the collection are written off to the Statement of Financial Activities in the year of acquisition. Other tangible assets are stated at COSL Depreciation is provided on tangible assets to write down their value over their estimated useful life. The following r7tes have been applied: Collection No depreciation Brunel Drawings No depreciation Fixtures and Fittings 10% - 20% straighr line OfPice Equipment 25% straight line 2.8. Stock Stock is held at the lower of cost and net realisable value. The Brunel Museum Company Number 02488877 Page 12

2.9. Debtors Debtors are recognised at their setclement amounL less any provisions for non-recovernbiliry. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. 2.1 O. Cash at Bank and in Hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisitions. 2.1 l. Creditors and Provisions Creditors and provisions are recognised when there is an oblig2tion at the balance sheet date as a result of a past evenL it is probable that a tt7nsfer of economic benefit will be required in settlemen( and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 2.12. Financial Instruments The chariry only enters into basic financial inscrumenr rransaccions rhat resulr in the recognition of financial assets and li2bilities like trade 2nd other debtors 2nd c￿dItors. 2.13. Pensions The company operntes a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company h2s no further payment obligations. The contributions are recognised as an expense in the Statemenr of income and retained earnings when they f211 due. Amounts not paid are shown in 2ccruals as a liability in the Ststement of financial position. The assets of the plan are held separately from the company in independently administered funds. 2.14. Taxation The Brunel Museum is a registered charity and therefore is not liable to income tsx or corporation tax on income derived from its ch2ritable activities, 2S it falls within the v2rious exemptions available to registered charities. 2.15. Interest Income Interest income is recognised in profit or loss using the effettive interest method. 2.16. Borrowing Costs All borrowing costs are recognised in profit or loss in the period in which they are incurred. 2.17. Fund Accounting Rescricted Funds Funds that can only be used for specific resrricted purposes within the objects of the charity. Flestrictions arise when specified by the donor or when funds are raised for particular restricted purposes Design2ted Funds Funds set aside by the trustees out of unrestricted generdl funds for specific future purposes or projects Unrestricted General Funds Funds which can be used in accordance with the charitable objects at the discretion of the trustees The Brunel Museum Company Number 02488877 Page 13

Income From Charitsble Activities 2023 Restricted Unrestricted Total 2022 Admissions Group Visits Project Income Total 39.303 6.726 39.303 6.726 36.212 82,241 28.017 2,041 199.325 229,383 36.212 36.212 46,029 Project Income 2023 2022 Brunel Reinvented 2,025 153,837 34,788 6,200 4.500 Cultural Recovery Fund Education 21,187 500 Museum of London Re-set Grnnt Collections 12.500 36.212 Total 199.325 Income from Other Trading Activities 2023 2022 Merchandise Sales Digital Sales Image Rights Licencing Venue Hire Third Parcy Event Income Total 18,665 2,363 150 61,366 25,362 107.905 17,405 3,613 61,973 28,894 6. Other Income 2023 2022 Interest Receivable Southwark Council COVID Grnnts Other Income 406 2.667 140 Total (115) 3,213 The Brunel Museum Company Number 02488877 Page 14

Fundraising Costs 2023 2022 Allocaced Support Costs (Note 9) Merchandise Purchases Digital Sales Costs Admission and Group Visit Costs Venue Hire and Third Party Event Costs Total 83.121 4.096 1,474 2.868 13.823 105,382 73.872 16.334 2.511 1.067 14.710 108,494 Charitable Activities Costs 2023 Restricted Unrestricted 2022 Restricted Unrestricted Project Costs (Note l O) Allocated Support Costs (Note 9) Total 53,664 35,213 88.213 88,213 78.766 78,766 53.664 35,213 Accountancy Legal Fees Independent Examination Costs Total (339) 40 2.250 1,951 789 1.300 2,089 Total 53.664 90,164 35,213 80,856 Support Costs 2023 Charitable Activities (Note 8) Fundraising (Note 7) Total 2022 Staff Costs (Note 12) Consultancy Collection Costs Premises Costs General Office Expenses PR and Marketing Insurance Repairs and Maintenance Printing and Stationery Subscriptions Travel Costs Bank Charges Interest Payable Irrecoverable VAT Depreciation Total 62.668 62.668 1.500 2.445 8.620 2.270 2.008 1.934 1.154 176 507 756 260 125.336 1.500 2.445 17.240 4.541 2.335 3.869 2.308 352 1.014 1.512 538 516 4.008 3.820 171,334 103.770 2.975 529 14.568 4.176 7.215 4.485 1.183 316 1.459 175 788 681 5.568 4.751 152,638 8.620 2.270 327 1.934 1.154 176 507 756 278 516 2.004 1.910 88,213 1.910 83,121 The Brunel Museum Company Number 02488877 Page 15

l O. Project Expenditure 2023 2022 Brunel Reinvented 45.662 1,692 1.146 2,304 2.861 24.608 10,373 Cultural Recovery Fund Education Museum of London Re-set Grant 232 Collections Total 53,664 35,213 I l. Trustees, Remuneration There were no expense reimbursement payments during the year ended 31 December 2023 or the prior year. 12. Staff Costs 2023 2022 Wages and Salaries Social Securiry Costs Other Pension Costs 146.209 2.934 3,160 9.138 102,667 2.040 1,669 4.162 Other Staff Costs Total 161.440 110.538 £36.104 of staff costs are included in Projecc Costs (2022 - £6.758} The average number of employees during the year was 4.5 (2022- 4.5) No employees received emoluments in excess of £60.000 The Brunel Museum Company Number 02488877 Page 16

  1. Tangible Fixed Assets Museum Fixtures & Staging & Fittings Equipment Equipment Collection Total Cost At l January 2023 Additions 35,770 20,485 9,586 237,552 2.315 465 2,780 Disposals At 31 December 2023 (500) 20,450 (500) 9,586 239,832 38,085 Accumulated Depreciation At l January 2023 Charge for the Year Disposals 4,583 21,424 14,603 9,586 50,196 2,489 3,282 5,771 (385) (385) At 31 December 2023 4.583 23.913 17,500 9.586 55.582 Net Book Value At 31 December 2023 167,128 14.172 2,950 184,250 Ac l January 2023 167.128 14,346 5.882 187.356
  2. Stocks 2023 2022 Goods for Resale 6,638 979

  3. Debtors 2023 2022 Trade Debtors 31.346 1,500 1.535 23.355 Accrued Income Other Debtors 4.982 Total 34.381 28,336 The Brunel Museum Company Number 02488877 Page 17

  4. Creditors 2023 2022 Trade Creditors 7,755 12.371 54.785 6.337 6.895 88.143 10.002 98.145 9,312 8,811 20,997 5,040 7,241 51.401 16,381 67.782 Social Security and Other Taxes Accruals and Deferred Income Other Creditors Loans - Due Within One Year Amounts Due Within One Year Loans - Due After One Year Total

  5. Unrestricted Funds Analysis Atl January 2023 At31 December 2023 Current Year Income Expenditure Transfers Continu2tion Fund 25.795 12,290 38,085 Partnership Funding Closure Fund 31.513 (31,513) 3.000 3,000 General Fund 72.868 161.726 (195.547) 161.726 (195.547) 19.995 59,042 Total 133,176 772 100,127 During the year transfers of £772 were made from Restricted to Unrestricted Funds (2022 - £32.567). Atl At31 January December 2022 2022 Prior Year Income Expenditure Transfers Continuation Fund 28,042 (2,247) 25,795 Partnership Funding Closure Fund 31,513 31,513 3.000 3,000 General Fund 77.441 149.963 (189.350) 34,814 72,868 Total 139,996 149.963 (189,350) 32,567 133,176 The Brunel Museum Company Number 02488877 Page 18

  6. Restricted Fund Analysis Atl January 2023 Income Expenditure At31 December 2023 Current Year Transfers Brunel Drawings Fund Brunel Phorographs Fund Project Grants - Conservation 160,000 160,000 4,073 4,073 5.365 5,365 Education 9.756 21.187 (1.146) (2.861) (45,662) (1,692) (2,304) (53.664) 29,798 Collections 12.500 9,639 Brunel Fleinvented 153,644 2,025 110,007 Cultural Flecovery Fund Museum of London Re-set 1,692 4.268 500 {2.464) (772) Total 337.106 36.212 318,883 Atl January 2022 At31 December 2022 Prior Year Income Expenditure Transfers Brunel Drawings Fund Brunel Photographs Fund Project Grants - Conservation 160.000 160.000 4.073 4.073 5,365 5,365 Education 3,556 6,200 9,756 Playscheme Brunel Reinvented 214 (214) 24.415 153.837 {24.608) {10.373) {232) (35,213) (32.567) 153.644 Cultural Recovery Fund Museum of London Re-set 7.938 34.788 (32.353) 4,500 4,268 Total 205,561 199.325 337.106 The Brunel Museum Company Number 02488877 Page 19

  7. Allocation of Net Assets Between Funds 2023 Current Year Restricted Unrestricted Total Tangible Fixed Assets Current Assets 164.073 20.177 184.250 154,810 178,096 332,905 Current Liabilities (88,143) (10.002) 100.127 (88,143) (10,002) 419.010 Non-current Liabilities Total 318,883 2022 Prior Year Restrirted Unrestricted Total Tangible Fixed Assets Current Assets 164.073 23.283 187.356 173.033 177.675 350.709 Current Liabilities (44.160) (23,622) 133.176 {44.160) (23,622) 470.283 Non-current Liabilities Total 337,106

  8. Pension Commitments The pension cost charge for the year is £2.871 (2022 - £1.669) from Unrestricted Funds and £289 (2022 - £nil) from Restricted Funds. Conrributions totalling £2,145 (2022 - £448> were payable at the year end.
  9. Operating Lease Commitments The total future minimum lease payments under non-cancellable operating leases for Land and Buildings are as follows - 2023 2022 Withing One Year In the Second to Fifth Years Inclusive 1.000 4,500 61.000 1.000 4,000 62.500 After Five Years Total 66,500 67,500

  10. Related Party Transactions There were no related party tfdnsattions during the year ended 31 December 2023 or the prior year. The Brunel Museum Company Number 02488877 Page 20

  11. Control The Chariry is considered to have no single controlling parry.

  12. Comparative Statement of Financial Activities 2022 Prior Year Restricted Unrestricted Total Income Donations Income from Charitable Attivities Income from Other Trading Other Income 4.776 4,776 30.058 229.383 199.325 3.213 3,213 149.963 349.288 Total Income 199.325 Expenditure Raising Funds Charitable Activities 108,494 108.494 80.856 116,068 189.350 224.563 35.213 35.213 Total Expenditure Profitl(Loss) for the Year 164.112 (39.387) 124.726 Reconciliation of funds Funds Brought Forward Transfers 205.562 (32.567) 164.112 337.106 139.996 345.557 32,567 (39.387) 124.726 133.176 470.283 Nec Movement in the Year Funds Carried Forward The Brunel Museum Company Number 02488877 Page21