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2024-12-31-accounts

THE BRUNEL MUSEUM

A Company Limited by Guarantee

Annual Report and Financial Statements For the Year Ended 31 December 2024

Registered Company Number 02488877 Charity Number 1003287

Contents

Reference and Administrative Details .............................................................................................................................. 3
Chair’s Report ........................................................................................................................................................................ 4
Trustees’ Report .................................................................................................................................................................... 5
Independent Examiner’s Report ......................................................................................................................................... 8
Statement of Financial Activities ........................................................................................................................................ 9
Balance Sheet ....................................................................................................................................................................... 10
Notes to the Financial Statements ................................................................................................................................. 11
1. General Information ........................................................................................................................................ 11
2. Principal Accounting Policies ........................................................................................................................ 11
3. Income From Charitable Activities.............................................................................................................. 15
4. Project Income ................................................................................................................................................. 15
5. Income from Other Trading Activities ....................................................................................................... 15
6. Other Income ................................................................................................................................................... 15
7. Fundraising Costs............................................................................................................................................. 16
8. Charitable Activities Costs ............................................................................................................................ 16
9. Support Costs................................................................................................................................................... 16
10. Project Expenditure ........................................................................................................................................ 17
11. Trustees’ Remuneration ................................................................................................................................ 17
12. Staff Costs ......................................................................................................................................................... 17
13. Tangible Fixed Assets ..................................................................................................................................... 18
14. Stocks ................................................................................................................................................................. 18
15. Debtors .............................................................................................................................................................. 18
16. Creditors ........................................................................................................................................................... 19
17. Unrestricted Funds Analysis.......................................................................................................................... 19
18. Restricted Fund Analysis ................................................................................................................................ 20
19. Allocation of Net Assets Between Funds .................................................................................................. 21
20. Pension Commitments ................................................................................................................................... 21
21. Operating Lease Commitments ................................................................................................................... 21
22. Related Party Transactions ............................................................................................................................ 21
23. Control............................................................................................................................................................... 22
24. Comparative Statement of Financial Activities ......................................................................................... 22

Company Number 02488877

Page 2

The Brunel Museum

Reference and Administrative Details

For the Year Ended 31 December 2024

Trustees J P Baggs Appointed 16 April 2024
R A Davies
M C Heap
N A Mansell
S Mukherjee
M P Nolan
A J S Ross
F C Scott
C N Smith
A E Swift
L Turner Appointed 16 April 2024
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
SE16 4LF
Independent Examiner Azets
2nd Floor, Regis House
45 King William Street
London
EC4R 9AN
Bankers HSBC
Redriff Road
London
SE16 7LL

Page 3

Company Number 02488877

The Brunel Museum

Chair’s Report

For the Year Ended 31 December 2024

2024 has been another outstanding year for the museum, building on the enormous success of the previous year’s packed events and activity programming.

Following a round of trustee recruitment in late 2023, we were pleased to welcome two new trustees - Jonathan Baggs and Lauren Turner - to the Board in early 2024. I was particularly pleased that Andy Swift, who had joined as a trustee in December 2023, was appointed Vice Chair in 2024.

The museum also welcomed three new members of staff. Emily Boldry was appointed as Community Curator to lead on interpretation of Brunel Museum Reinvented Project. Emily has produced short animation films with children from Time & Talents Holiday Club, and the Workers Project, looking at experience of Thames Tunnel workers with contemporary construction workers and tunnelling engineers. We also welcomed Jack Hayes as Collections Access Coordinator. Jack has already made great strides in improving the Museum’s collections documentation, and overall knowledge of collections. This is brought to life in our first Research, Public History and Science Outreach Report, detailing all the activity for 2024. Finally, Jo Breeze joined the museum in November as our first Fundraising and Advocacy Manager to further support the Museum’s philanthropic and fundraising ambitions. Earlier in the year we already had great success with the Big Give Arts for Impact Challenge raising our target to deliver Holiday Clubs during Easter holidays.

Throughout the year, the museum continued to be a popular venue for hire, including for our monthly concert programme with Debut & St Martins in the Fields, and a British Youth Opera production of Lucretia. We also continued host an eclectic mix of events throughout the year from screening Euro 2024 Football matches in the Tunnel Shaft to hosting the annual meeting of the National Brunel Network.

As always, we are extremely grateful to everyone who works for and with the museum, be that as a volunteer, member of staff, or trustee. The museum has benefited from a vast number of supporters this year, from individuals to funding bodies – without whose generous support we would not have been able to undertake such an ambitious range of activity. Not forgetting, of course, everyone who visits and spends time in the museum, from our local community supporters, school groups and family visitors through to researchers and academics. Whether you gave your time, funding or support in other ways this year – thank you.

R A Davies, Chair of Trustees

30 October 2025

Company Number 02488877

Page 4

The Brunel Museum

Trustees’ Report

For the Year Ended 31 December 2024

The Board of Trustees hereby presents its annual report on the affairs of The Brunel Museum (“the Charity”) together with the independently examined financial statements for the year ended 31 December 2024.

Structure, Governance and Management Constitution

The Charity, registered number 1003287, is constituted as a company 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 –

Jonathan Peter Baggs Richard Arthur Davies (Chair) Michael Conrad Heap (Treasurer) Nicholas Anthony Mansell Sayak Mukherjee Maureen Patricia Nolan (Secretary) Amy Jane Stockwell Ross Francis Caroline Scott Cheryl Naomi Smith Andrew Edward Swift Lauren Turner

No Trustee had any contract or arrangement of a material nature with the Charity during the year under review.

The Trustees 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 set of relevant documents when they join (such as the governing documents, recent accounts, recent minutes, and 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 Board meetings.

Public Benefit

The Trustees have had regard to the guidelines issued by the Charity Commission relating to public benefit and are satisfied that the charity confers a public benefit. The Brunel Museum exists to educate the public in the works of Marc Brunel, Isambard Kingdom Brunel, and 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 further acts 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.

Company Number 02488877

The Brunel Museum

Page 5

Risk Management

The Charity’s objectives are subject to a range 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 taken to mitigate these risks and the risk register is reviewed quarterly 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:

  1. To preserve and encourage the preservation for the public benefit of the Engine House and the Grand Entrance Hall situated in Rotherhithe Street, Greater London and the precincts thereof by such means as may be necessary;

  2. to educate the public in the appreciation of the engineering works of Marc and Isambard Brunel, particularly the construction of the Thames Tunnel, and to publish and catalogue, leaflet or other material in connection therewith; and

  3. to provide a recreational facility for local residents and for the public at large at Rotherhithe and, subject thereto, to generally enhance the surrounding conservation area.

The Trustees agreed statement of purpose:

“To preserve and share widely the ground-breaking stories of the Thames Tunnel project and the outstanding 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 the commercial activities, with both our Museum shop and venue hire delivering outstanding results during the year.

The balance between maintaining the Museum opening hours with commercial opportunities for the site is one which is under constant review, with the Charity’s strategic aims being met through providing a sound financial footing from which the Museum can grow and develop.

The Trustees are confident that the Charity is on the right path to financial sustainability.

Reserves Policy

Total reserves stand at £471,234, of which £360,902 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 £69,246 are Unrestricted Funds that can be used at the Trustees entire discretion to deliver the Museum’s aims.

Of the Restricted funds, £204,420 is the value of the Brunel drawings and other artefacts which are shown in the accounts within Fixed Assets.

The Trustees have agreed a Reserves Policy, calculation of which is an integral part of the board’s strategic planning, forecasting and risk management. The Trustees consider it appropriate to maintain the following:

Company Number 02488877

Page 6

The Brunel 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 operates.

Statement of Trustees’ Responsibilities

The Charity Trustees (who are also Directors for the purposes of The Companies Act 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 England and Wales requires charity trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law, the Trustees must not approve 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 the incoming resources and application of resources of the charitable company for that period. In preparing the financial statements the trustees are required to:

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 with 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 trustees by:

R A Davies, Trustee and Chair 30 October 2025

Company Number 02488877

The Brunel Museum

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 2024 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 examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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 matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable 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 matters in connection with the examination to which attention should be drawn 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

10 November 2025

Company Number 02488877

Page 8

The Brunel Museum

Statement of Financial Activities

For the Year Ended 31 December 2024

Note
Income
Donations
Income from Charitable Activities
3
Income from Other Trading
5
Other Income
6
Total Income
Expenditure
Raising Funds
7
Charitable Activities
8
Total Expenditure
Profit/(Loss) for the Year
Reconciliation of funds
17-19
Funds Brought Forward
Transfers
Net Movement in the Year
Funds Carried Forward		 2024
Restricted
Unrestricted
Total
£
£
£
-
11,318
11,318
296,894
53,765
350,659
-
122,968
122,968
-
-
-
296,894
188,050
484,944
104,718
104,718
291,889
76,114
368,003
291,889
180,832
472,720
5,006
7,218
12,224

358,883
100,127
459,010
(2,986)
2,986
-
5,006
7,218
12,224
360,902
110,331
471,234		 2023
As Restated
£
7,907
82,241
107,905
(115)
197,938
105,382
143,829
249,211
(51,273)
510,283
-
(51,273)
459,010

The Statement of Financial Activities 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 11 form part of these financial statements.

Company Number 02488877

Page 9

The Brunel Museum

Balance Sheet

As at 31 December 2024

As at 31 December 2024
2023
2024 As Restated
Note £ £
Fixed Assets 13 221,772 224,250
Current Assets
Stock 14 5,108 6,638
Debtors 15 3,889 34,381
Cash 273,167 291,886
Current Assets 282,163 332,905
Creditors Falling Due Within One Year 16 (29,771) (88,143)
Net Current Assets 252,393 244,762
Creditors Falling Due More Than One Year 16 (2,931) (10,002)
Net Assets 471,234 459,010
Charity Funds
Unrestricted 17 110,331 100,127
Restricted 18 360,902 358,883
Total Charity Funds 19 471,234 459,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

The financial statements were approved by the Trustees and signed on their behalf by:

R A Davies, Trustee and Chair

30 October 2025

Company Number 02488877

Page 10

The Brunel Museum

Notes to the Financial Statements

1. General Information

The Brunel Museum (“the Charity”) is a company limited by guarantee. It operates in accordance with the Memorandum and Articles of Association adopted on 4 March 2017. If the charity 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 is 2488877. The charity is incorporated in England and Wales.

2. Principal Accounting Policies

2.1. Basis of preparation

These accounts have been prepared for the year ended 31 December 2024.

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 notes to these accounts.

The accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)”, ‘The financial reporting standard applicable in the UK and Republic of Ireland (‘FRS’ 102)’ and the Charities Act 2011.

The charity constitutes as public benefit entity 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 cast.

2.2. Prior Period Restatement of Collections included in Fixed Assets

During the preparation works for the Brunel Reinvented project, a review of the Charity’s collections was undertaken. This exercise revealed that a print purchased for £40,000 in 2019 has not been included in the Fixed Asset register. Therefore, the prior and current period financial statements have been restated to reflect the inclusion of this asset. In line with existing accounting policy (Note 2.8), this asset will be held at cost and not depreciated.

The impact of the restatement on comparative amounts are as follows –

2023
As Previously 2023
Reported As Restated
Fixed Assets £184,250 £224,250
Net Assets £419,010 £459,010
Unrestricted Charity Funds £100,127 £100,127
Restricted Charity Funds £318,883 £358,883
Total Charity Funds £419,010 £459,010

There is no impact on the prior period profit and loss account due to this restatement.

2.3. Critical Accounting Estimates and Areas of Judgement

There are currently no significant judgements and estimates made by the trustees in the preparation of the accounts.

Company Number 02488877

The Brunel Museum

Page 11

2.4. Assessment of Going Concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a 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 ability of the charity 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 fall due.

The financial statements have therefore been prepared on the going concern basis.

2.5. Cash Flow Statement

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 Reporting by charities Statement of Recommended Practice (Charities SORP (FRS 102)).

2.6. Income Recognition

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

The following specific policies are applied to particular categories of income:

Grants received for specific purposes are treated as restricted funds. Income is deferred when performance fees or grants are received in advance of the performance or event to which they relate.

2.7. Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that 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 basis and includes attributable 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 relating to that activity.

Expenditure comprises the following:

Company Number 02488877

Page 12

The Brunel Museum

2.8. Tangible Fixed Assets

The trustees have determined that the additional benefit to members and other users of these accounts of researching the historic cost or of obtaining values for items in the Collection at 1 January 2001 does not justify the costs of such an exercise. Accordingly, items in the Collection are carried at nil cost unless they have been purchased by the charity since 1 January 2001.

Costs incurred in acquiring items for the collection are written off to the Statement of Financial Activities in the year of acquisition.

Other tangible assets are stated at cost. Depreciation is provided on tangible assets to write down their value over their estimated useful life. The following rates have been applied:

Collection No depreciation Brunel Drawings No depreciation Fixtures and Fittings 10% - 20% straight line Office Equipment 25% straight line

2.9. Stock

Stock is held at the lower of cost and net realisable value.

2.10. Debtors

Debtors are recognised at their settlement amount, less any provisions for non-recoverability. 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.

2.11. 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.

2.12. Creditors and Provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, 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.

2.13. Financial Instruments

The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

2.14. Pensions

The company operates 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 has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

2.15. Taxation

The Brunel Museum is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Page 13

Company Number 02488877

The Brunel Museum

2.16. Interest Income

Interest income is recognised in profit or loss using the effective interest method.

2.17. Borrowing Costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.18. Fund Accounting

Restricted Funds Funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes Designated Funds Funds set aside by the trustees out of unrestricted general 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

Company Number 02488877

Page 14

The Brunel Museum

3. Income From Charitable Activities

2024
Restricted
Unrestricted
£
£
Admissions
-
41,719
Group Visits
-
12,046
Project Income
296,894
-
Total
296,894
53,765
roject Income
Brunel Reinvented
Cultural Recovery Fund
Education
Museum of London Re-Set Grant
Collections
Total
ncome from Other Trading Activities
Merchandise Sales
Digital Sales
Image Rights Licencing
Venue Hire
Third Party Event Income
Total
her Income
Interest Receivable
Southwark Council COVID Grants
Other Income
Total		 2024 Total
£
41,719
12,046
296,894
350,659
2024
£
265,504
-
3,057
3,333
25,000
296,894
2024
£
22,264
3,300
-
76,048
21,356
122,968
2024
£
-
-
-
-		 2023
As Restated
£
39,303
6,726
36,212
82,241
2023
As Restated
£
2,025
-
21,187
500
12,500
36,212
2023
As Restated
£
18,665
2,363
150
61,366
25,362
Restricted
Unrestricted
£
£
-
41,719
-
12,046
296,894
-
296,894
53,765
107,905
2023
As Restated
£
-
-
(115)
(115)

4. Project Income

5. Income from Other Trading Activities

6. Other Income

Company Number 02488877

The Brunel Museum

Page 15

7. Fundraising Costs

Allocated Support Costs (Note 9)
Merchandise Purchases
Digital Sales Costs
Admission and Group Visit Costs
Venue Hire and Third Party Event Costs
Total		 2024
£
69,060
10,716
2,300
208
22,434
104,718		 2023
As Restated
£
83,121
4,096
1,474
2,868
13,823
105,382

8. Charitable Activities Costs

Project Costs (Note 10)
Allocated Support Costs (Note 9)
Total
Accountancy
Legal Fees
Independent Examination Costs
Total
Total		 2024
Restricted Unrestricted
£
£
291,889
69,060
291,889
69,060
-
4,554
-
-
-
2,500
-
7,054
291,889
76,114		 2023 As Restated
Restricted Unrestricted
£
£
53,664
-
-
88,213
53,664
88,213
-
(339)
-
40
-
2,250
-
1,951
53,664
90,164

9. Support Costs

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		 2024
Fundraising
(Note 7)
Charitable
Activities
(Note 8)
Total
£
£
£
43,009
43,009
86,017
313
313
625
-
-
-
8,414
8,414
16,828
2,743
2,743
5,487
1,478
1,478
2,955
1,887
1,887
3,775
2,532
2,532
5,064
-
-
-
585
585
1,170
925
925
1,851
143
143
286
173
173
345
4,565
4,565
9,130
2,293
2,293
4,586
69,060
69,060
138,120		 2023
As Restated
£
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

Company Number 02488877

Page 16

The Brunel Museum

10. Project Expenditure

roject Expenditure
Brunel Reinvented
Cultural Recovery Fund
Education
Museum of London Re-Set Grant
Collections
Total		 2024
£
264,439
-
1,909
-
25,541
291,889		 2023
As Restated
£
45,662
1,692
1,146
2,304
2,861
53,664

11. Trustees’ Remuneration

There were no expense reimbursement payments during the year ended 31 December 2024 or the prior year.

12. Staff Costs

Wages and Salaries
Social Security Costs
Pension Costs
Other Staff Costs
Total		 2024
£
215,725
3,373
3,204
4,292
226,594		 2023
As Restated
£
146,209
2,934
3,160
9,138
161,440

£140,577 of staff costs are included in Project Costs (2023 - £36,104). The average number of employees during the year was 4.5 (2023 – 4.5). No employees received emoluments in excess of £60,000

Company Number 02488877

The Brunel Museum

Page 17

13. Tangible Fixed Assets

Cost
At 1 January 2024 As Restated
Additions
Disposals
At 31 December 2024
Accumulated Depreciation
At 1 January 2024 As Restated
Charge for the Year
Disposals
At 31 December 2024
Net Book Value
At 31 December 2024
At 1 January 2024 As Restated
14. Stocks
Goods for Resale
15. Debtors
Trade Debtors
Accrued Income
Other Debtors
Total		 Collection
Fixtures &
Fittings Equipment
Museum
Staging &
Equipment
£
£
£
£
211,711
38,085
20,450
9,586
-
353
2,302
-
-
-
-
-		 Collection
Fixtures &
Fittings Equipment
Museum
Staging &
Equipment
£
£
£
£
211,711
38,085
20,450
9,586
-
353
2,302
-
-
-
-
-


Total

£
279,832
2,655
-
211,711
38,438		 22,752
9,586		 282,487
4,583
23,913
-
2,582
-
-		 17,500
9,586
2,551
-
-
-		 55,582
5,133
-
4,583
26,495		 20,051
9,586		 55,329
207,128
11,943		 2,701
-		 221,772
207,128
14,172		 2,950
-		 224,250
2024
2023
As Restated
£
£
5,108
6,638
2024
2023
As Restated
£
£
1,471
31,346
-
1,500
2,418
1,535
3,889
34,381

Company Number 02488877

Page 18

The Brunel Museum

16. Creditors

reditors
2023
2024 As Restated
£ £
Trade Creditors 7,190 7,755
Social Security and Other Taxes 13,812 12,371
Accruals and Deferred Income 270 54,785
Other Creditors 1,429 6,337
Loans – Due Within One Year 7,070 6,895
Amounts Due Within One Year 29,771 88,143
Loans – Due After One Year 2,931 10,002
Total 32,702 98,145
nrestricted Funds Analysis
At 1
Current Year January
2024 As		 At 31
December
Restated Income Expenditure Transfers
2024
£ £
£		 £
£
Continuation Fund 38,085 -
-		 -
38,085
Partnership Funding - -
-		 -
-
Closure Fund 3,000 -
-		 -
3,000
General Fund 59,042 188,050
(180,832)		 2,986
69,246
Total 100,127 188,050
(180,832)		 2,986
110,331

17. Unrestricted Funds Analysis

During the year transfers of £2,986 were made from Restricted to Unrestricted Funds (2023 – £772).

At 1 At 31
Prior Year January
2023 As		 December
2023 As
Restated Income Expenditure Transfers Restated
£ £
£		 £ £
Continuation Fund 25,795 -
-		 12,290 38,085
Partnership Funding 31,513 -
-		 (31,513) -
Closure Fund 3,000 -
-		 - 3,000
General Fund 72,868 161,726
(195,547)		 19,995 59,042
Total 133,176 161,726
(195,547)		 772 100,127

Company Number 02488877

Page 19

The Brunel Museum

18. Restricted Fund Analysis

Current Year
Brunel Drawings Fund
Brunel Photographs Fund
Project Grants –
Conservation
Education
Collections
Brunel Reinvented
Cultural Recovery Fund
Museum of London Re-Set
Total
Prior Year
Brunel Drawings Fund
Brunel Photographs Fund
Project Grants –
Conservation
Education
Playscheme
Brunel Reinvented
Cultural Recovery Fund
Museum of London Re-Set
Total		 At 1
January
2024 As
Restated
Income Expenditure
Transfers
At 31
December
2024
£
£
£
£
£
160,000
-
-
-
160,000
44,073
-
-
347
44,420
5,365
-
-
-
5,365
29,798
3,057
(1,909)
-
30,946
9,639
25,000
(25,541)
-
9,099
110,007
265,504
(264,439)
-
111,073
-
-
-
-
-
-
3,333
-
(3,333)
-
358,883
296,894
(291,889)
(2,986)
360,902
At 1
January
2023 As
Restated
Income Expenditure
Transfers
At 31
December
2023 As
Restated
£
£
£
£
£
160,000
-
-
-
160,000
44,073
-
-
-
44,073
5,365
-
-
-
5,365
9,756
21,187
(1,146)
-
29,798
-
12,500
(2,861)
-
9,639
153,644
2,025
(45,662)
-
110,007
-
-
(1,692)
1,692
-
4,268
500
(2,304)
(2,464)
-
377,106
36,212
(53,664)
(772)
358,883

Company Number 02488877

Page 20

The Brunel Museum

19. Allocation of Net Assets Between Funds

Current Year
Tangible Fixed Assets
Current Assets
Current Liabilities
Non-Current Liabilities
Total
Prior Year
Tangible Fixed Assets
Current Assets
Current Liabilities
Non-Current Liabilities
Total		 2024
Restricted Unrestricted
Total
£
£
£
204,420
17,352
221,772
156,482
125,681
282,163
-
(29,771)
(29,771)
-
(2,931)
(2,931)
360,902
110,331
471,234
2023 As Restated
Restricted Unrestricted
Total
£
£
£
204,073
20,177
224,250
154,810
178,096
332,905
-
(88,143)
(88,143)
-
(10,002)
(10,002)
358,883
100,127
459,010

20. Pension Commitments

The pension cost for the year is £2,757 (2023 - £2,871) from Unrestricted Funds and £447 (2023 - £289) from Restricted Funds. Contributions totalling £1,429 (2023 - £2,145) were payable at the year end.

21. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases for Land and Buildings are as follows –

Within One Year
In the Second to Fifth Years Inclusive
After Five Years
Total		 2024
£
1,000
5,000
59,500
65,500		 2023
As Restated
£
1,000
4,500
61,000
66,500

22. Related Party Transactions

There were no related party transactions during the year ended 31 December 2024 or the prior year.

Company Number 02488877

Page 21

The Brunel Museum

23. Control

The Charity is considered to have no single controlling party.

24. Comparative Statement of Financial Activities

Prior Year
Income
Donations
Income from Charitable Activities
Income from Other Trading
Other Income
Total Income
Expenditure
Raising Funds
Charitable Activities
Total Expenditure
Profit/(Loss) for the Year
Reconciliation of funds
Funds Brought Forward
Transfers
Net Movement in the Year
Funds Carried Forward		 2023 As Restated
Restricted
Unrestricted
Total
£
£
£
-
7,907
7,907
36,212
46,029
82,241
-
107,905
107,905
-
(115)
(115)
36,212
161,726
197,938
105,382
105,382
53,664
90,164
143,829
53,664
195,547
249,211
(17,452)
(33,821)
(51,273)
377,106
133,176
510,283
(772)
772
-
(17,452)
(33,821)
(51,273)
358,883
100,127
459,010

Company Number 02488877

Page 22

The Brunel Museum