Company registralion number 02592450 (England and Wales) Charlty reglstratlon number 1006990 (England and Wal6s) THE WORLD OF GLASS (ST HELENS) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE WORLD OF GLASS (ST HELENS) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Chairman A Whitlaker Executive Director S Taor Dlrectors and Trustees D J Bricknell G Clarke P S Cousins A Fuller A K Pilkington D Mcareavey T M Wilcock A Whittaker Charlty number 1006990 Company number 02592450 Reglsterod offlce Chalon Way Easl Sl Helens United Kingdom WA10 1BX Audllor BK Plus Audit Limited 7 Waterside Court St. Helens Merseyslde United Kingdom WA9 1UA Bankers Natwest Bank PIC 5 Ormskirk SlreÈl St. Helens Merseyside WA10 1DR Sollcltors Addleshaw Goddard 100 Barbirolli Square Manchester M2 3AB
THE WORLD OF GLASS (ST HELENS) LIMITED CONTENTS Page Trustees, report Stalemanl of Iruslees, responsibililies Independent auditor's report Slalement of financial activities Balance sheet 10 Stalement of cash tlows 11 Notes to the financial statements 12-25
THE WORLD OF GLASS (ST HELENS) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Thé truslees present their annual report and financial stalements for the year ended 31 March 2025. The financial slatemenls have been prepared in accordance with Ihe accounling policies set out in note 1 to the financial statements and comply with the charity's governing document. the Companies Acl 2006 and "Accounting and Reporting by Charilies: Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and activltles The principal objective of the charity, which accords with the public b6nefs1 requiremenl, is to educate Ihe public in SCi8nc& and technology, wilh particular reference to glass manufacturing and technology employed in the glass industry. It was always envisaged thal Ihe objectives of the charily would be primarily achieved from the operalion of its museum and herilage-based visilor cenlre situated in the hearl of St Helens. The Centre opened in March 2000 and is home lo Ihe Pilkinglon Glass Collection and the St Helens Council Social and Induslrlal History Collection. Both these collectlons portray how gl35s manufacturing has shaped the development of the town of St Helens and define th8 historical and continuing importance of glass as a material. In addition to houslng the collections. the centre contlnues to inform and educale vlsltors from Ihe United Klngdom and many other parts of the world. This is 8¢hieved in many ways, but In parlicular.. I l Guided tours of the adjacent 19th Century Listed Grade11 Cone Buildlng IJ Regular glass blowing demonslralions I l A°slat8 of the art" audlo visual show [.] Frequent temporary exhibllions ri Interactlve Ghlldren's area concentrating on the science of Ilght and Ils relationship to glass Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding whal aclivilies the charity should undertake. Achlevements and performance Significanl 8clivities and achievements against objectives The World of Glass ha5 been a visitor allraclion in St Helens for nearly 25 years. 11 was opened in March 2000 as a ground-breaking Millenium project. On lop of housing a nationally significant glass collection and St Helens Council's social an(J industrial hlstory collection, the visitor centre also is home to the town's library, community spaces, galleries. meeting rooms. a café, shop and live glass blowing demonstrations. The site also includes one of the finest examples of a regenerative fumace in England. the Grade Il. listed Tank House No. 9, a Scheduled Monumenl. Despite Ihe significant investment lo create The World of Glass (which vms cutting edge at the lin of Its opening), there has been virtually no further investment in the site until 2023 when il received £0.89m to refurbish its main galleries. This investment has Greated a hugely engaging inleraclive space and h85 boosted visitor figures from 50K to nearly 100K per year. The World of Glass has an opportunity lo largel these increased visitors by supplying hlgh quality and targaled shopping and food experiences, bespoke glass workshops and demonstrations and events and activities that create an increased income strearn. Th8S8 Opportunities will help lo secure the future of the World of Glass, improving on the infrastructure, slgnlficantly raising our profile within the glass art sector, Liverpool City Region. and nationally, as well as securing much needed income. In June 2024 The World of Glass recruited a n8w Ex8culive Director. Sarah Taylor replaced Pete Frost after 3 years in post. Human resources, health and safely, and financial processes and procedures have been brou1 in throughout thé year, providing up to date operational support for the team.
THE WORLD OF GLASS (ST HELENS) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revlew The operaling deficit of the charity for the year was £180.736 (2024: surplus £366.671) before a fixed asset depreciation charge of£389.837 (2024: £411.370). The trading subsidiary of the charity made a profil before lax81ion of£13,281 {2024- £420>. Going conGern The World of Glass ISI Helons) Limiled continues lo work closely with local pariners, primarily St Helens Council, lo establish an integrated Gultural partnérship within the town, as well as sourcing funding and investment for future development. Current funding from St Helens Council has been agreed through a service level agreement and the Iruslees are aware that without this funding The World of Glass {St Helens) Limited will be unable lo continue lo trade as a going concem. The World of Glass (Sl Helens) Limited conlinues to look for addilional sources of funding to secure the future of the charity. The trustees believe. having taken into account all infomiation that could reasonably be expected to be available, il is appropriate lo adopt the going concern basis of accounting in preparing ihe financial statements. ReseNes policy Accountlng and Reportlng by Charities: Statement of Recommended Practlce applicable to charllles preparing Ihelr accounts In accordance wilh the Flnanclal Reporling Standard (Charities SORP) defines reserves as income which becomes availab18 to th8 charity and is lo be spent at the truslee5' disuelion in furtherance of any of the charity's obleclives, but which is not yet spent, committed or designaled. The deflnlllon therefore excludes income funds which could only be realised by disposlng of fixed assets. The charity's total reseNes are largely represented by fixed assets and, consequently, the remalnlng would be free reserves. The free resèrves at Ihe balance sheet dale wefe in deficil by £164,611 (2024.. surplus £50,576>. The World of Glass recognlsed Ihal Its fulure was al risk due lo the lack of frè8 reseNes. Therafore, after the year end, the Board and Executive Director decided to officially pul itself down as a 'museum al risk, with Museum Development, a govemment funded partnership which works to secure thedevelopmenl and suslalnabillly of museums across England. With thelr supporl we were able lo build relationships wilh funders like Arts Councll England and we were successfully awarded £286K lo spend in Ihe 2025126 financial year lo top up our reserves, alleviate any shortfall in our operalional budgel. and lo fund some devalopm6nl activities to support future sustainabillty. On lop of this we went public with a fundraising campaign. This raised over £66K through Crowdfunding, corporate and other public donations, with more donations likely lo come in. W8 have also reglstered for Gift Aid for the first lime this year. effectively raising further funding on top of this. As a resull of our funding success. we have now beèn laken off the Mus6ums at Risk register. As at 31 March 2025 the charity had total funds of £3,997,804. Restricled funds were £4,162,415, represented largely by fixed assets, see notes 13 and 22. Principal funding sources The charity's principal sources of funding are from a combinalion of commercial aclivilles and grant aid. As in previous years, the commercial activities were largely carried out by the wholly owned trading subsidiary, The World of Glass Enterprises Limited. Trading income from The World of Glass Enlerprtses Limited for the year was £201,057 (2024.. £193,187). The charity made a management charge of £31,040 (2024: £22,108) to the trading company durlng the year and this assisted the charity in meeting its objeclives. In addilion lo the income generated from the trading company. the charity continued to receive support from Sl Helens Council of £200,000 (2024: £200,000). together with a loan last year of £160,000. The Board is extremely appreciative of this contlnued support.
THE WORLD OF GLASS (ST HELENS) LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Major risks The trustees have assessed the major risks to which the charity is exposed, and are satisfied Ihal syslems are in place lo mitigate exposure to the major risks. Plans for future periods Operating at a financial loss throughout the year the Board and Execulive Director recognised Ihe need for more intensive fundraising and business developmenl. While showing no financial gain in 2024125, it has resulted in a significant Increase in grant funding in 2025126. including receiving £286K from Ihe Arts CounGiI Museum Renewal Fund. This will give the team Ihe time and space to build and lest a new business model. A public fundraising campaign throughout the summer of 2025 has not only increased donations significantly bul also raised the proflle of The World of Glass. This. on top of the Internalional Fesllval of Glass 2nd British Glass Biennale in 2026 promises significant opportunltles to deliver on the ambitions of The World of Glass into the next 2 years. structure, governance and management The charlty Is a company limited by guarantee and was incorporated on 18th March 1991 in England and Wales. It is governèd by its memorandum and artic16s of associalion. The Ilablllty of the members in th8 event of the charity beSng wound up is limited to £1. The company is a registered charily and acts entirely as a non-profil making organisation. The charity Is governed by its Board of Trustees. which meets bkmonthly. The Board. tog81h8r with the senior management le8m headed by the executlve direclor Sarah Taylor, Is responsible for formulating the strategy and pollcles of the organisation. Performance is monitored by regular financial reporting against approved budgellng levels. The charity's chair, Mr A Whittaker, who is also a trustee, meels with th8 S8nlor management team on a regular basis to review the financial position and day lo day operation of the centre. Trustees are drawn from a variety of backgrounds lo ensure the Board has Ihe required expertlS8. All new trustees are subjeGt lo an induction process which includes the opporlunity to meet wilh senior mar)agers and slaff and to visit Ihe centr8 lo see how il operales on a day to day basis. Prior lo their appointment, new Iruslees are given a package of information including copies of Ihe governing documents of bolh Ihe charity and trading rnpany, accounting and risk management policies and procedures, the charilvs conflict of inleresl policy, and théir eligibility lo seNe, under section 72 of the Charities Acl 2011, is checked. The power of the appointment and removal of trustees is vested with the members of the charily. Each member Is enlilled lo one vote and lo be represented on the Board by up to two Irustees, The Trustees who held office during the year and sincè the year end are as detsiled below. The trustees. who are also the dlreGlors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. R C Hepworth (Resigned 13 October 2025) D J Bricknell G Clarke P S Cousins K Crooks S G Lingard A Fuller A K Pilkington D Mcareavey T M Wilcock A Whittaker S E Murphy (Resigned 13 OGtober 2025) (Resigned 13 October 2025) (Resigned 21 October 2024)
THE WORLD OF GLASS (ST HELENS) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Relationship wilh related parties The charity owns 100°/o of Ihe ordinary share capital of its subsidiary trading company, The Worfd of Glass Enterprises Limited. The Ir8ding company occupies the charily's premises and also shares equipment, staff and resources. Whilst there is no licence or agreement for occupalion. there is an appropriale apportioning of relevant costs resulting in an annual management charge. Sl Helens Council, who is a member of Ihe charity, provides essential core funding in support of the exhibitions and education work as an amenity for local residents and the public. and to assist in the operation of the cenlre. Auditor In accordance wilh the company's articles, a resolution proposing that BK Plus Audit Limiled be reappointed as auditor of the company will be put at a General Meeting. Disclosure of Informatlon to audltor Each of the trustees has confirmad that there is no information of which they are aware which is relevant to the audit, but of whlch the auditor is unaware. They have furiher confirmed that they have laken appropriate steps to dentify such relevant information and to establish that the auditor is aware of such information. The Iruslees, report was approved by Ihe Board of Twstees. A Whlllaker Trustee 2011212025 Dale:
THE WORLD OF GLASS (ST HELENS) LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees. who are also the directors of The World of Glass (Sl Helens) Limited for the purpose of company law, 2re résponsible for preparing the Trustees, Report and the financial slalemenls in accordance wilh applicable law and Uniled Kingdom Accounting Slandards (United Kingdom Genarally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a Irue and fair view of the slate of affairs of the charily and of the incoming resources and application of resources, including the income and expendilure. of the charitable company for thal year. In preparing these financial slatements, the trustees are required lo.. select suitable accounling policies and then apply them consistently. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent; slate whelher applicable UK Accounting Slandards have been follow8d, subject lo any materi81 deparlures dlsclosed and explained in the financial slatemenls., and prepare the financial statements on the going concern basis unlass il is inappropriate to presume Ihal the charily will Gonlinue in operation. The Iruslees are responsible for keepin9 adaquale accounting records that disclose with reasonable accuracy at any lime the financial posilion of the charity and enable Ihem lo ensure that the financial slaleman ts comply with the Companies Act 2006. They are also responsible for safeguarding the assels of th8 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for lh8 maintenance and integrity of the charity and financial information included on the Gharity's website, Legislation in the United Kingdom goveming the preparation and diss8minalion of financial slalements may differ from legislation in other jurisdictions.
THE WORLD OF GLASS (ST HELENS) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE WORLD OF GLASS (ST HELENS) LIMITED Opinion We have audiled the financial statements of The World of Glass (St Helens) Limited (the 'charily') for the year ended 31 March 2025 which comprise the stalemenl of financial aclivilies, the balance sheet, the statement of cash flows and notes lo the financial slalements. including significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Acwunting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard 8pplic8ble in Ihe UK and Republic ol Ireland (Uniled Klngdom Generally Accepted Accounting Praclice). In our opinion, the financial statements: give a true and fair view of the state of the charitable compan$ affairs as al 31 March 2025 and of its incoming resources and application of resource5, Includlng its income and expenditure, for the year then ended; have been properly prépared in accnrdance with United Klngdom Generally Accepted Accounting PraGtlce,' and have been prepared In accordance wlth Ihe requirements of the Companles Act 2006. Basls for oplnlon We conducted our audit in accordanr* with International Standards on Auditing (UK) (ISAS {UK)l and applicab18 law. Our responsibilities under Ihose standards are further described In the Audilorfs responsibilit18s for the audil ol Ihe financial statements section of our report. We are independent of th8 charity in accordance with the elhical requirements that are relevant to our audit of the financial slalemenls in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other elhical responsibilities in accordance with Ihese requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing Ihe financi81 slalemenls, we have concluded that the trustees, use of the going GonGem basis of accounting In the preparation of the financial statements is approprlate. B8sed on the work we have performed, we have nol idenlified any material un¢ert8inlies relating to events or conditions that, individually or Collectively, may casl significant doubl on the charity's ability to continue as a going concern for a period of 81 least e1ve monlhs Irom when the financial slalemenls are authorised for Issue, Our responsibilities and Ihe responsibilities of the trustees with respect lo going concern are described in th6 relevant sections of this report. Other Information The other information comprises the Information included in the annual report other Ihan the financial statements and our auditor's raport thereon. The trustees are responsible for the other information conlalned within the annual report. Our opinlon on the financial statements does not cover Ihe olher Information and, except to the ext8nl otheise explicitly stated In our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the olher information and. In doing so. conslder whether the other information Is malerially Inconslslent with Ihe flnanclal statements or our knowledge obtained in th8 course of Ihe audit, or olherwise appears to be materially misstated. If we identify SUGh malerlal inconsistencies or apparent materlal misstatements, we are required lo determine whether Ihis glves rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude Ihal Ihere Is a material misstatement of this olher informatlon, we required to report that facl, We have nothing lo report in this regard. Oplnlons on other matters prescribed by the Companle5 Act 2006 In our opinion. based on Ihe woik undertaken in the course of our audit: the information given in the trustees, report for the financial year for which the financial statements are prepared, which includes the directors, reporl prepared for the purposes of company law. is consi5tenl with the financial statements; and the directors, report included within the Irustees. report has been prepared in accordance wilh appllcable legal requirements.
THE WORLD OF GLASS (ST HELENS) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE WORLD OF GLASS (ST HELENS) LIMITED Matters on which we are required to report by exception In the light of Ihe knowledge and underslanding of the charily and its environment ob18ined in the course of the audit, we have nol identified malerial misstatements in the directors, report induded within the trustees, report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 requires us lo report to you if. in our opinion- adequate accounting records have nol been kept, or retums adequate for our audit have not been received from branches not visited by us,. or the financial slalements are not in agreement with the accounting records and returns; or certain disGlosures of trustees, remuneration specified by law are not made- or We have not received all the information and explanalions we require for our audit; or the trustees were not entitled lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies. exemptions in preparing the trustees, report and from the requirement to prepare a strategic reporl. Rasponsibllities of trustees As explained more fully in the slalement of Iruslees. responsibililies, the Irust8es, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of Ihe financial statements and for being satisfied Ihat they give a true and fair view, and for such inlernal control as the Iruslees delermine is necessary lo enable Ihe preparation of financial stalements that are free Irom material misstalemenl, whether due lo fraLtd or error. In preparing the financial $13temenls. the Iruslees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matlers related to going concern and tjsing the going conc8rn basis of accounting unless the trustees either inlend lo liquidate the charitable company or lo cease operations, or have no realistic alternative but to do 50. Auditorfs responslbllltles for the audit of the flnanclal statements Our objectives are to oblain reasonable assurance aboul whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error. and to issue an audilorfs report that includes our opinion. Reasonable assuranc8 Is a high level of assurance bul Is not a guaranlee that an audil conducted in accordanca with ISAS (UK) wlll always detect a material misstalem6nt when It exists. Misslalements can arlse from fraud or error and are consldered material if, indivldually or in the aggregate, they could reasonably be exp8cled to influence the economlc decisions of users taken on the basis of these flnancial statements. Irregularities, includlng fraud, are instances of nonwcompli8nce with laws and regulations. We d6sign procedures in Ilne with our responsibilitles, outllned above, to detecl malerial misstatemanls In respect of irregularities, including fraud. The 8Xtent lo which our procedures are capable of detectlng irregularities, including fr8ud Is detalled below. From the prellmlnary stages of the audit. we ensure our understanding of the entity is up to dale. This includes, bul is not Ilmlled to, current knowledge of their activities, the business and control environments, and Ih8ii compliance with the applicable legal and regulatory frameworks. This information supporls our risk identification and the subsequent design of audil procedures lo miligale those rlsks,. ensuring that the audit evidence oblalned is sufflcient and approprlate to support our opinion. In response to the rlsks identified. speclfic to this entity, we designed proc£dures which included. bul were not limited lo- Enquiry of management and those charged with govemance around actual and potenlial litigation and claims,, Reviewing minutes of meetings of those charged with governance. where available-, Reviewing financial slalemenl disclosures and testing to supporting documenlation to assess complianc8 with applicable laws and regulations. Auditing the risk of rnanagemenl override of controls. including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant Iransactions outside the normal course of business. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:11 www.frc,org.uklauditorsresponsibilities. This descriplton forms part of our auditorfs reporl.
THE WORLD OF GLASS (ST HELENS) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE WORLD OF GLASS (ST HELENS) LIMITED Use of our report This report is made solely to the Gharilable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companie5 AGt 2Q06. Our audit work has been undertaken so thal we might state to Ihe charitae company's members those mallers we are required to state lo them in an auditor's report and for no other purpose. To the fullest extenl permitted by law, we do not accept or assumé responsibility lo anyone olher than the charilable company and the charitable company's members as a body. for our audit work, for this report, or for Ihe opinions we have formed. Darran L gh FCCA (Senlor Statutory Audltor) for and on behalf of BK Plus Audit Llmlted 3.)-. Chartered Certified Accountanls Statutory Audltor 7 Waterslde Court Sl. Helens fvAerseyslde Uniled Kingdom WA91UA
THE WORLD OF GLASS (ST HELENS) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from., Grants and donations Charitable aGlivilies Other trading aclivilies Investments 217,570 44,046 44,680 33.631 29,100 246.670 44,046 44,680 33,631 315,181 32,276 38,956 22,333 403,050 718,231 32,276 38,956 22,333 Total Income 339,927 29.100 369,027 408,746 403.050 811,796 Expendlture on: Raising funds Ch8rilable activities 66,400 488.714 13,397 371,089 79,797 859,803 40,264 439,266 12,270 364,695 52,534 803,961 Total expendlture 555.114 384,486 939.600 479,530 376,965 856,495 Net expendlture and movement In funds (215,187) (355,386) (570.573) (70,784) 26,085 (44,699) Reconclliation of fund8: Fund balances al 1 April 2024 50,576 4,517.801 4.568,377 121.360 4,491,716 4,613,076 Fund balances at 31 March 2025 <164,611) 4,162,415 3,997.804 50,576 4,517,801 4,568,377 The $18temenl of flnanci31 aclivilies includes all gains and losses recognised in the year. All SnGome and expenditure derive from continuing actlvltles, The notes on pages 12 to 25 fomi parl of these financial stalemenls.
THE WORLD OF GLASS {ST HELENS) LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed asset5 Tangible assets Heritagé assels Investments 13 14 15 4,094.720 4,455,029 4,094,722 4,455,031 Current assets Stocks Dablors Cash at bank and in hand 16 17 2,990 38,930 79,978 2,990 45,330 313,328 121,898 361,648 Credltors: amounts falling due wlthln one year 19 (52,032) (71,645) Net currenl assets 69,866 290,003 Total assets less current Ilabllities 4,164,588 4,745,034 Credllors: amounts falllng due after more than one year 20 (166,784) (176,657) Net assets 3.997.804 4.568,377 The funds of the charlty Restricted funds Unrestricted funds 22 23 4,162,415 (164,6111 4,517,801 50,576 3,997.804 4,568.377 The notes on pages 12 to 25 fomi part of these financial slatemenls. Th8 financial statements were approved by the trustees on 2011212025 A Whittaker Trusteè Company registration number 02592450 (England 2nd Wales) 10-
THE WORLD OF GLASS (ST HELENS) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating actlvlties Cash {absorbed by)Igeneraled from operations 28 (227,580) 272,952 Investing activities Purchase of tangible fixed assets Investment income received {29,528) 33.631 (515,204) 22,333 Net cash generated froml{used In) Investlng actlvltles 4,103 (492,871 > Flnanclng actlvitles Proceeds from borrowings Repayment of bank loans 160,000 (9,874) (9,873) Net cash (used In)Igenerated from financlng activities (9.873) 150,126 Net d8craase In cash and cash equlvalents (233,350) 169,793) Cash and cash equivalents al beglnning of year 313,328 383,121 Cash and cash equivalents at end of year 79,978 313.328 The notes on pages 12 to 25 fomi part of these financial statements. 11
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity Information The World of Glass (Sl Helens) Limited is a private company limited by guarantee Incorporated in England and Wales. The registered office is Chalon Way East, St Helens. WA10 1BX, United Kingdom. 1.1 Accountlng convention The financial slalemenls have been prepared in accordance with the charity's governing document, Ihe Companies A¢1 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Slalement of Recommended Practice applicable lo charilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Gharity is a Public Benefil Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearesl £. The financial statements have been prepared under the historical cost conventlon. The principal accountlng policles adopted are sel out below. The charity has laken advantage of the exemption under Section 144, Charities Act 2011 not to prepare consolidated accounts, on the basis that the group of which the charity is the parent, falls under the slipulaled threshold. The financi81 statements present informalion about the charity as an individual entity and nol aboul Its group. 1.2 Golng concern At the time of approvlng the financial statements, the trustees hav8 a reasonable expectation Ih8t th8 charity has adequate resources lo conllnue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basls of accounting in preparing the financial statements. 1.3 Charllable funds Unrestricted funds are available for use al Ihe discretion of the Iruslees in furtherance of their charitable objectives. Restricted funds are subject to specific condilions by donors or grantors as to how they may be used. The purposes and uses of the reslricled funds are sel out In the notes lo the flnancial stalements. 1.4 Incorne Income is recognised when the charily is legally entitled to it after any performance condilions have been met, the amounls can be measured reliably. and il is probable Ihal income will be received. Cash donations ar8 recognised on receipt. Other donatrons are recognised once the charity has been nolifled of the donation, unless performance conditions rèquire deferral of the amounl. Income lax recoverable In relation to donations raceived under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othernis8 if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Assets for dislrtbutlon are recognised only when distrlbuted. Assets given for use by the charlty are recognised when receivable. StOGks of undistributed donated goods are not valued for balance sh68t purposes. 12-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AcGountlng pollcles (Contlnued) Income from government grants is recognised when the charily has enlillemenl to the funds, any performance conditions attached to the grant have been met. il is probable Ihal the income will be received and the amounl can be measured reliably, unless performance conditions requlre deferral of the grant. Income from trading activities is recognised as earned as Ihe relaled goods and services are provtsjed and is staled after discounts and nel of VAT. 1.5 Exp8ndlture Expenditure is recognised onc& there is a legal or constructive obligation to transfer economic beneflt lo a thlrd party, it is probable that a transfer of economic b8nefils will be required in s8ttlem8nt, and the amount of the obligatlon can be measured reliably. Exp8ndllure is dassified by activity. The costs of Èach activity are made up of the total of dir1 costs and shared costs, including support costs involved in undertaking each activity. Dlrecl costs attributable lo a slngle activity are allocated direGlly to thal acllvily. Shared cosls whlch CA)ntribute to more Ihan one aclivily and support costs which are not altribulable to a single activity are apportioned between Ihos8 acllvltles on a basis conslstent with the use of resourc£s. Central staff costs are allocated on Ihe basls of time spent, and depreclatlon Gharges ar8 allocated on the portion of the asset's use. Costs of generating funds are those costs incurred in Irading activities that raise funds and include both th8 direct costs and support costs relating to these activities. Charitable actlvitles Include expenditure assoclaled wilh the operatlons of Ihe charity as a vlsltor centre and Include both the dlrecl costs and supporl costs relaling lo Ihis aclivily Governance costs include those incurred in the governance of the charity and ils assets and are primarily associaled with Gonstilulional and stalulory requiremenls. Support costs Include central functions 8nd have been allocated to actlvity cost calegorles on a t£sls conslstent with the use of resources. 1.6 TangSble flxed assets Tangibl8 fixed assets are inlllally measured at cost and subs8quenlly measured at cost, net of depreciation and any impalrment losses. Depreciation is recognised so as lo write off the cost of assets le55 Iheir residual values over their useful lives on Ihe following bases: Leasehold land Leasehold bulldlngs Capitalised professional fees Furniture, fitlings and equipment Computer equipment 124 years straight line 50 years straight line 1000A in year of purchase 100A, 20 /0 and 25% straight line 330/0 Straight line 1.7 Herltage assets Tangible fixed assels which are of historical, artistic or scientific importance and are held lo advance the preseNation, conservation and educational objectives of the charity are classed as herltage assets. Assets which have been purchased are capilalised at their cost, or valuation where such information can be obtained at a cost commensurate with the benefit to users of the financial slatements. There are no heritage assets within the visitor centre collection other than those which have been purchased. 13-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policles (Contlnued) 1.8 Fixed asset investments Fixed asset investments are inillally measured at cost and subsequenlly measured at cost less any accumulated impaimient losses. The inveslmenls are assessed for impairment al each reporting dale and any impairment losses or reversals of impairm8nt losses are recognised immediately in net incomel{expendlturel for the year. 1.9 Impalrment of fixed assels At each reporting end date. the charity revIeV the carrying amounls of its tangible assets lo delermine whether there is any indication Ihal those assels have suffered an impairment loss. If any such indicalion exists, the recoverable amount of the asset is estimated in order to determine the exlenl of the impairment loss (if any). 1.10 Stocks Slocks ar8 slated al the lower of cosl and eslimaled selling price less costs lo complete and sell. Cost comprises direct malerials and. where applicable, direct labour cosls and those overheads thal hav6 been incurred in bringing thè stocks lo their present location and ndItiOn. Items held for distribution at no or nominal consid8ralion are measured the Iow8r of replacement cost and cost. 1.11 Cash and cash equlvalents Cash and cash equivalents Include cash in hand, deposlts held al call with banks, oth8r short-term Ilquid investments wlth original maturilles of three months or less, and bank overdrafts. Bank overdrafts are shown wlthin borrowings In Gurrent liabilltie$. 1.12 Flnanclal Instruments The Gharily has elecled to apply the provisions of Sectlon 11 'Basic Fin3nGlal Instrum8ntS' and Secllon 12 'OlhÉr Flnancial Inslruments15SU8s' of FRS 102 to all of its financial Instruments, Financlal Instruments are recognised in the charitys balance sheet when the charlty becomes party lo the contractual provisions of the instrument. Financlal assets and liabilities are offset, with the net amounts presented in Ihe financial statements, when there is a legally 8nforceabl8 right lo set off Ihe recognised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liability simullaneously. Basic flnancial assets Basic financial assets, which include deblors and cash and bank bal8nc6s. are initially measured at Iransaclion price including transaction costs and a subsequenlly carried at amortised cost using the effeGlive interest method unless the arrangement constitutes a financing transaction, where Ihe transaction Is measured at the present value of thè future receipts discounted al a market rale of interest, Financial ass8ts classified a5 receivable within one year are nol amorhsed. Baslc financlal Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where Ihe debt inslrumenl is measured at the present value of Ihe future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade credilors are obligations to pay for goods or services that have been acquired in the ordinary course of operalions from suppllers. Amounts payable are dassified as current li8bilities if payment is due within one year or less. If nol, they are presenled as nOncUrrent liabillties. Trade creditors are recognlsed initially at transaction price and subsequently measured at amortised cost using the 6ffective interest method. 14-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) Derecognltion of flnanclal liabllltles Financial liabilities are derecognised when the charÈVs contractual obligations expire or are discharged or cancellèd. 1.13 Retlrement beneflts Payments to defined contribulion retirement benefit schemes are charged as an expens8 as they fa51 due. Income from donatlons* grants and legacles Unrestricted Restrlcted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Donations from individuals Grants receivable (see below) Membership fees 17,570 17.570 19,154 19,154 200,000 28,840 260 228,840 260 296,027 401,850 1,200 697,877 1,200 217,570 29.100 246,670 315.181 403,050 718,231 Grants recelvable for core actlvltl88 Sl Helens CounGII Core Fundlng st Helens Councll New Town Deal Rainford Trust Salary Support Creative Roots Historic England Tank House St Hel8ns Council Digital Medla Campalgn UK Shared Prosperity Fund Cafe Redevelopment 200.000 200,000 200,000 200,000 401,850 401,850 66,296 29,731 66,298 29,731 10,489 10,489 13,750 13,750 4.601 4,601 200,000 28.840 228.840 296,027 401,850 697.877 15-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activities Unrestrlcted Unrestricted funds funds 2025 2024 Operations as a visitor centre Admisslons Education & exhlbltions 23,960 20,086 27,893 4,383 44,046 32,276 Income from other tradlng actlvlties UnrestrlGtad Unrestrlcted funds funds 2025 2024 Hot glass sales 44,680 38,956 Income from Investments Unrestricted Unrestricted funds funds 2025 2024 Management income Intere5l receivable 31.040 2,591 22,107 226 33,631 22,333 Expendlture on ralslng funds Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Trading costs Costs of goods sold st8ff costs Depreciation and Impairmenl Support costs 7.086 10,679 7.086 10,679 2,505 9.255 2,505 9,255 2,540 46,095 12,269 1.128 14,809 47,223 2,481 26,023 12,270 14,751 26,023 66,400 13.397 79.797 40,264 12,270 52,534 16-
THE WORLD OF GLASS {ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activitles Admlssions Education and exhlbitions 2025 Total Admlsslons Education and exhlbltions 2024 Total 2025 2025 2024 2024 Direct costs staff costs Depreciation and impairment Deparlmenlal materials Creative roots 88,255 10,903 99,158 75.296 15.677 90,973 361,262 1,435 12,613 742 16,865 373,875 2,177 16.865 381.547 464 12,554 394,101 467 17,765 17,765 450,952 41,123 492,075 457,307 45,999 503.306 Share of support and governance costs (see note 8) Support 341,032 20.321 Governance 5,850 525 361,353 6,375 285.001 6,300 9,204 150 294,205 6,450 797,834 61,969 859,803 748,608 55,353 803,961 Analysis by fund Unrestricted funds Rostricled funds 439,541 358,293 49,173 12.796 488.714 371,089 396,182 352,426 43,084 12,289 439,266 364,695 797.834 61,969 859,803 748.608 55.353 803,961 17-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocaléd to activitles 2025 2024 Basis of allocatlon Income Floor area/direct Incom8 JnGome U8age/income Income Incom8 FIot)r area Floor area Income Income Incom8 Staff costs Depreciation Marketing and advertising Licenc8s and equipment hire Communications General expenses and insurance Bank charges Premlses costs Light and heat Legal & professional Loan interest payable Governance c05t5 129.330 1,153 8.738 5,989 6,121 38,312 1,482 67,572 136,284 11,695 775 7,500 74.233 2,518 309 4.728 6,307 31,824 1,115 66,738 123,132 7,499 775 7,500 414,951 326,678 Analysed belween., Fundraising Admissions Education and exhlbillons 47,223 346,882 20,846 26,023 291,301 9,354 414,951 326,678 Net movement In funds 2025 2024 The nel movement in funds is slal8d after chargingl(crediling): Fees payable for Ihe audlt of the charily's financial statemenls Depreciation of owned iangible fixed assets 7.500 389,837 7,500 411,370 10 Trustees None of the trustees (or any parsons connected with them) received any remuneration or benefits from Ihe charity during the year. 11 Employees The av8rage monthly number of employees during the year was". 2025 Number 2024 Number Management and administration Operational Total 11 18-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employees (Contlnued) Employment costs 2025 2024 Wages and salaries Soclal security costs Other pension costs 224,450 8,351 6.366 158,764 12,366 3,331 239.167 174,461 There were no employees whose annual rèmuneralion was more than £60,000. 12 Taxation The charity Is exempl from laxalion on its activities because all its income is applied for charitable purp0s8S. 13 Tangible flxed assets Lea88hold land and bulldlngs FurnSture, flltlngs and equlpm&nt Comput•r equlpm•nt Total Cost At 1 Aprll 2024 Additions 10,019,336 5.624,790 27,308 67,258 15,711,384 2,220 29,528 At 31 March 2025 10.019.336 5,652,098 69,478 15.740,912 Depreclatlon and Impairment Al 1 April 2024 Depreciation charged in the year 6,307,153 4,883,395 134,513 254,459 65,807 11,256,355 865 389,837 At 31 March 2025 6,441.666 5,137,854 66,672 11.646.192 Carrylng amount At 31 March 2025 3,577.670 514,244 2.806 4,094,720 At 31 March 2024 3,712,183 741,395 1,451 4,455,029 14 Heritage assets The chandelier was donated by Manchester Airwrt during the year ended 31 March 2009 and its cost of £79,344 represented expenditure incurred in installing the exhibit in the visitor cenlre. The market value donation has not been included on the grounds Ihat the cost of obtaining such a valuation would not be commensurate with the benefit of the users of Ihe financial statemenls. The chandelier has been fully depreciated and has a net book value of £Nil (2024 £Nil). other heritage assels within the visitor centre are not induded on Ihe balance sheet because Ihe charily acts only as their curator. 19-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Flxed asset investments Other Snvestments Cost or valuatlon At 1 April 2024 & 31 March 2025 Carrying amount At 31 March 2025 Al 31 March 2024 2025 2024 Other investments Gomprise: Notes Investments In subsidiaries 26 16 Stocks 2025 2024 Finished goods and goods for resale 2,990 2,990 17 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued Income 1,302 22,661 12,556 2,411 192 20,073 5,013 20,052 38.930 45,330 18 Loans and overdrafts 2025 2024 Bank loans Loans from related parli8S 16,687 160,000 26,560 160,000 176.687 186,560 Payable within one year Payable after one year 9,903 166,784 9,903 176,657 -20-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Loans and overdrafts (Contlnuedl The bank loan is unsecureil. The related paty loan represenls a loan from St Helens Council for worklng capilal and is securèd by a fixed chargé over the leasehold land lying Soulh of Chalon Way, St Helens, lille MS399499. The loan from Sl Helens Councll is repayable by 48 equal monlhly inslalmenls commenclng In December 2025. The initial 12 monthly repayments are inlere5t only. Interest is payable monthly in arrears and is Gharged at 5.89Yo per annum. 19 Credltors: amounts falllng due withln one year 2025 2024 Noles Bank loans Other taxation and social security Trade creditors Accruals and deferred income 18 9,903 3,099 16,524 22.506 9,903 2,511 30,887 28,344 52,032 71,645 20 Credltors: amounts falllng due after more than one year 202S 2024 Notes Bank loans Other borrowings 18 18 6.784 160,000 16.657 160,000 166,784 176,657 21 Retirement beneflt schemes 2025 2024 Defined contrlbution schemes Charge lo profil or loss in respect of defined contribution schemes 6,366 3.331 The charity operates a defined contribulion pension scheme for all qualifying employees. The assels of Ihe scheme are held separately from those of the charity in an independently administered fund. 21
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Restricled funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 April 2024 Incomlng resources Resources At 31 March expended 2025 Building Fund Friends ofThe World of Glass Rainford Trust Cone Restoration Show Seating Project Re-imaginlng ProleGI Godfrey Pilkinglon Gallery UK Shared Prosperity Fund St Helens Council Digital Media Campaign Historic England Tankhouse 3,655.735 16,592 2,500 21,389 26,130 678,018 117,437 (132,569) 3,523,166 16,852 2.500 21,389 26,130 466,136 84,924 4.601 6,228 10,489 260 (21rf,882) {32,513) 4,601 13,750 10,489 (7,522) 4,517,801 29.100 (384,486) 4,162,415 Prevlous year: At 1 Aprll 2023 Incomlng resources Resources At 31 March axpended 2024 Buildlng FLtnd Friends ofThe World of Glass Rainford Trust Cone Restoration Show Seating Project Re-imagining Project Godfr8y Pllklnglon Gallery 3,788,305 15,392 2,500 21,389 26,130 488.050 149,950 (132,570) 3,655,735 16,592 2,500 21,389 26.130 678,018 117,437 1,200 401,850 (211,882) (32.513) 4,491,716 403,050 {376,965) 4,517.801 The building fund was provided by the Heritage Lottery Fund to renovate the former Pilkinglons, glass works building (Ihe cone house) and to conslrucl the linked visitor cenlre. The Ra-imagining fund was provided by the government under the New Town Deal lo r&imagine the charity's permanenl galleries. -22-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Unrestricted funds The unrestrictéd funds of the charily compris8 the unexpended balances of donations and grants which are not subject to specific Gonditions by donors and granlors as to how they may be used. These include designaled funds which have been set aside oul ol unreslricled funds by the trLJStees for specific purposes. Resources At 31 March expended 2025 At 1 April 2024 Incoming resources Ganeral funds 50,576 339,927 (555.114) (164,611) Prevlous year: At 1 Aprll 2023 Incoming resources Resources At 31 March expended 2024 General funds 121.360 408,746 (479,530> 50,576 24 Analysls of net assets between funds Unrestrlcted funds 2025 Restrlcted funds 2025 Total 2025 At 31 March 2025: Tanglble assels Investments Current asselsl(Ilabililies) Long term liabilities 59,834 4,034,886 4,094,720 (57,663) {166,784) 127,529 69,866 {166,784) (164,611) 4.162,415 3,997,804 Unrestrlcted fund5 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tanglble assels Investmenls Curranl asselsllliabilities) Long term liabilities 3,839 4,451,190 4.455,029 223,392 (176,657) 66,611 290,003 (176,657) 50.576 4,517,801 4,568,377 -23-
THE WORLD OF GLASS (ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25 Related party transactions Transactions with related parties During the year the charily enlered inlo the following transactions with related parties: The charily received Iha following from St Helens Council during the year. core funding grants totalling £200.000 {2024.' £200,000). dlgilal media campaign and rebranding £13,750 {2024- £Nil). 26 Subsldlarles These financial 5talements are separale charily financial slatements for The World of Glass (St Helens) Limited. Separate company financial slatemenls are required to be prepared by law. Consolidated financial stalemenls for The World of Glass Group have not been prepared as it does not fulfil the requir8ments stipulaled by the Charitrfs Act. Details of the charity's subsidiaries at 31 March 2025 are as follows.. Name of undertaklng Registered office Nature of business Class of o Held shares hold Direct Indlrecl The World of Glass Enterprises Limited England and Wales Museum activities Ordlnary 100.00 The World of Glass Enterprises Limited operates Ihe trading and commercial aclivilies of the visitor centra, which include operating the admissions lo the visilor centre. its shop and cafe, the car park and the hire of ils facilities for functions and conferences. At the year end there was 8 balance due from The World of Glass Enterprises of£22.661 (2024.. £20,073). 27 Controlling Interest The charily is controlled by the executive committee, which is composed of the Irustees and members. -24-
THE WORLD OF GLASS {ST HELENS) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Cash (absorbed by)Igenerated from operations 2025 2024 Deficit for the year (570,573) (44,699) Adjustments for: Investment income recognised in slatement of financial aclivilies Depreciation and impairment of langible fixed assels (33,631) 389,837 (22,333) 411,370 Movements In worklng capital.. Decreasel(increase) in deblors (Decrease) in creditors 6.400 (19,613) (5,514) (65,872) Cash (absorbed by)Igenerated from operatlons (227,580) 272,952 29 Analysls of changes in net debt At 1 Aprll 2024 Cash flowsAI 31 March 2025 Cash al bank and In hand 313,328 (233,350) 79,g78 Loans falling due within one year Loans falling due after more than one year <9,903) (176,657> (9,903) (166,784) 9,873 126,768 (223,477) 196,709) -25-