REGISTERED COMPANY NUMBER: 02704749 (England and Wales)
REGISTERED CHARITY NUMBER: 1010902
THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2024

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Flnancial Activities
Statement of Financlal Positlon
Notes to the Financlal Statements
9 to 18
Detailed Statement of Financial Activities
19 to 20

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees who are also directors of the charity for the purposes of the Companles Act 2006, present
their report with the financial statements of the charity for the year ended 31st December 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charitles.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectlves and aims
Objects
The objects of the Trust are to preserve archltectural and construttional herltage bulldlngs, and to
educate by exhiblting bulldlngs and objects,
Alms
The principal activlty and aim of the companyi a charitable trust, continue5 to be the renovatlon and
presentatlon of the town house and shop bullt by sllk merchant Thomas Bayly following the Great Fire of
Marlborough of 1653, The House is furnished as it might have been in 1675 and Is open as a vi51tor
attraction. Part of the House is home to the Marlborough Museum, displaying the Marlborough collection
of local artefacts and documents. We have also established a library and archive collectlon.
The Trust occupies 132 Hlgh Street, Marlborough, under a lease from Marlborough Town Council at
nomlnal rent and runs until January 2048. A5 well as holding the lease of 132 High Street, the Trust
own5 the freeholds of 133 High Street and of The Old Print Works on the land behlnd 132.
Strategies
There are a number of projects connected with conservatlon, restoratlon and development of the House
and its surroundings which the trustees would like to get under way. Implementing these depends on
Identifying appropriate sources of fundin9 for each project and we will continue to approach a range of
grant-giving institutions and individuals to achleve thls. The trustees are very eonsclous that the
environment in which the Trust operates is an evolvlng one and that the charlty needs to keep under
continuous review its immediate priorltles, how it presents itself, and how best to secure the funding it
needs to do its work.
Conservatlon
Much of the main Merchant's House building has been made safe, attractlve, and vlsitable over the last
30 years. Nevertheless, the report commissioned in 2019 by the tru5tee5 revealed a backlog of
maintenance and conservation work required to the variou5 buildings. Work to address this started In
2021. After finishing the first phase and second phases and having secured most of the fundlng we
focused on completlng the remalnlng and final phase of the roof repair during 2024. However, during the
repair, it became evldent that one of the main chimney's needed repairs and whilst our contractors have
secured the chimney for the time being we are seeking appropriate permlssions and funding to fully
repair this key component of the House
The Museum
The museum, housed in part of the bulldingi house5 0 collectlon of objects linked to Marlborough. The
museum successfully re-opened following Covid with an exhibltlon to commemorate Marlborough at War
and 80 years since WWII Normandy Landlngs. The re-opening has helped play a role In attracting what
we think 15 the hlghest number of visStors to the House since it flrst opened to the publlc
The Collections
Having secured for the museum, two 19th Century paintlngs by George Maton, depictlng the Town Green
wlth local characters we look forward to displaying them once we have been able to fund their
restoration and framing.
Volunteers
Volunteers provide an immeasurable contribution throughout the Merchant's House Trust - as guides in
the House, working in the garden and shop, creating embroidery, and helping with events, staying in
touch with 5UPPOrters and general administration.
Page I

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
OBJECTIVES AND ACllVITIES
Visitors
In 2024 we welcomed 2,401 paying visltors as the House was fully open from its planned period of March
to December 2024 and contlnue5 to look to increase visitor numbers through our associate membershlps
with Historic Houslng Association and Visit Wiltshire. We think 2,401 Is a record number of visitors
Events
The Trust arranged a number of events durSng 2024 to support and promote the work of The Merchant's
House and to raise funds. As the House remained open until December, the events programme included
an evenlng of muslc and singlng and children's Halloween events alongside the traditional Spring Studies
Lecture and Open Gardens, and a re-enactment event by The Devereux's Regiment of Foot on the
weekend 6th & 7th July. For the first time, the entlre building was decorated Internally for Chrlstmas, to
the theme of 'The Night Before Christmas, to capitali5e on another local Christmas attraction belng closed
due to floodlng,
Dlgital
The Trust Is making greater use of digltal media and platforms slnce the launch of a new webslte in
January 2023 and is generating local Interest and helping towards increased visitor numbers especially
via our relationship with Historic Houses. A 7-page article in the August Historic Houses magazine
provided a significant boost to visitor numbers.
Education
Our education work contSnued, wlth our Vlsits and Tours Co-ordlnator vlsltlng schools to talk about the
House. We had visits from, amongst others, Marlborough St. Mary's School, Great Bedwyn, Oare and
Preshute Primary schools and Marlborough College. The children enjoyed learning about re-enforced
learning about the Fire of Marlborough and the Great Fire of London, and about 17th Century life in
general.
Trustees
Alison Galvin-wright continued as Chair of the Trust.
Durlng the year Dr Rowan Whimster joined as
trustee In November 2024. We antlcipate some changes during 2025 not least due to potential changes
in Marlborough Town Councillor Trustees following Local Electlons in May
FINANCIAL REVIEW
Fundraislng
The Trust relied on its own fundraislng activities durlng 2024, with new events showlng positive results
and potentlal to bulld upon going fornard. Chrlstmas event5 proved popular with a positive return.
living history event in July attracted a new audience.
Tradlng Company
increasingly difficult trading conditions the Shop achieved a profit in 2023 of £36,072. The trading
company has donated that profit to the Trust. immediately in the following year,
Reserves policy
The trustees seek to ensure that the level of reseNe5 is at least equlvalent to the liabilities of the Trust
at any point in tlme so that, combined with the current incoming resources for the current year, the
Trust's actlvitles may continue for a further period of twelve months. At 31 December 2024 the trustees
consider that the level of reserves Is satisfactory. Having used the reserves to support activities during
2023 and 2024, the Trustees plan to restore unrestricted reserves towards 6 months or longer as quickly
as financial conditions allow.
The Trust's Designated Reserve Fund exlsts to support the long-term financial plans and aspirations of
the Trust. Further details of the fund are shown at note 16 to the financial statements.
Varlous
elements of the Designated Fund are added to each year as funds permit, or spent if needed.
The
Designated Reserve Fund (except for the Trust's freehold property asset5 and subsldiary company
investment) 15 held in the Trust's bank accounts.
Page 2

THE MERCHANT'S HOUSE {MARLBOROUGH) TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
FUTURE PLANS
The Trust has commenced creatlon of a new Bulldlng ConseNation Management Plan. Thls to cover the
years 2025
2029 and is currently undergoing a strateglc review of Its museum actlvities and
subsequent plans.
The Trustees have revlewed the 5-10-year strateglc plan that alms to enhance vlsltor experlence, access
and greater Ilnkages with Marlborough and wider communities Incltsding educational facilltles and
museums. The Introductlon in 2024 of unguided tours has proved very successful and now accounting
more than 65¥0 of total visits for those who appreciate a more flexible way to experience the Ptouse and
Museum. H05ted and escorted tours continue to be popular as well in helping the visitor to become more
fully immersed in 17 Century History as well as touching on the changes that have taken place since then
Our prlority remalns to raSse sufflcient funds in 5UPPOrt of the House and turn towards more detalled
re5toratlon, and looking at how we present the House and its collectlons.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governance
The company Is a registered charity (no. 1010902) and is Ilmited by guarantee of £1 from each of Its
members. It Is governed by its Memorandum of Association and Artlcles of Assoclation.
Trustees are appointed for a three-year term at the end of which they may be reappointed by resolutlon
at the Annual General Meetlng of the company. Marlborough Town Council has the right to appoint two
serving councillors to the board of trustees. We meet potential new trustees before appointing them to
ensure they are sympathetlc to the aims of the Trust and can contribute towards achieving those aims.
Management
The board of trustees hold the prlmary responslbillty for management of the Trust's affalrs and for the
achievement of the Trust's charitable objectives. Day to day operatlons are supervlsed by the Trust
Manager who 15 assisted by a team of staff and volunteers.
Tradlng subsldlary
A wholly owned subsidiary companyi Merchant's House Trading (Marlborough) Llmited, operates a gift
shop at the House and donates its annual profits to the Trust in the following Financlal year. The tradlng
company is managed by a board of directors.
Rlsk
The trustees know they must be prudent in managing the charlty and pursuing Its charitable objectlves.
They appreciate also that, a5 Wlth many charities, the sources of funding on which they rely are
susceptlble to conslderable fluctuation,
To balance the Trust's incoming re50urce5 Wlth its annual
expenditure, we operate a system of budgetary control and the trustees revlew financial performance at
thelr regular meetings.
The board of trustee5 keep under review the major rlsks associated with the Trust's activities. Any risks
identlfied are monitored and mitigation measures put in place where needed,
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02704749 (England and Wales)
Registered Charlty number
1010902
Registered office
The Merchant's House
132 High Street
MARLBOROUGH
Wiltshire
SN8 IHN
Page 3

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31sr DECEMBER 2024
Trustees
A M Galvln-wrlght (Chalr)
MJ Hall
ARWRoss
E J S Hiscocks
J Sheppard
G L Smith
MZHMFogg
J V Patrick
G F Deatker
R P Whimster (appointed 13.11.24)
Company Secretary
K R Dlckens
Independent Examlner
Morris Owen
Chartered Accountants
43-45 Devlzes Road
SWINDON
Wiltshire
SNI 4BG
EVENTS SINCE THE END OF THE YEAR
Information relatlng to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on 24th June 2025 and signed on its behalf by:
A M Galvln-wright - Trustee
Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
Independent examiner's report to the trustees of The Merchant's House (Marlborough) Trust
('the Company,)
I report to the charity trustees on my examlnation of the accounts of the Company for the year ended
31st December 2024.
Responsibilities and basis of report
As the charlty's trustees of the Company (and a150 its directors for the purposes of company law) you are
responslble for the preparation of the accounts in accordance wlth the requirements of the Companles
Act 2006 ('the 2006 Act,),
Having satlsfled myself that the accounts of the Company are not required to be audited under Part 16 of
the 2006 Act and are ellgible for Independent examinatlon, I report in respect of my examlnation of your
charity'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 Dlrections given by the Charity Commi551on under Section
145(5) (b) of the 2011 Act.
Independent examlner's Statement
I have completed my examlnation, I confirm that no matters have come to my attention In connertion
with the examinatlon giving me cause to believe.,
accounting records We￿ not kept In respect of the Company as required by Section 386 of the
2006 Act; or
the account5 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 falr view which Is not a matter considered
as part of an independent examination; or
the accounts have not been prepared in accordance wlth the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities (applicable to
charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable
In the UK and Republic of Ireland (FRS 102)).
I have no concern5 and have come across no other matters in connectlon with the examlnatlon to whlch
attention should be drawn In thi5 report in order to enable a proper understanding of the accounts to be
reached.
Ian Sumbler FCCA
Morrls Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SNI 4BG
Date..
Page 5

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donatlons and legacies
6,995
67.131
74,126
26,560
ChaTltable activities
Miscellaneous income
1,175
1,175
132
Other trading activities
Investment income
other Income
63,889
21,276
122
63,889
Zl,276
122
60,287
44,540
Total
93,457
67.131
160.588
131,519
EXPENDrruRE ON
Fundraising and event costs
2,131
2,138
871
Charitable actlvities
House restoration, purchase of fijrnishlngs,
and educatlon
123,932
41,426
165,358
208,132
Total
126,063
41,433
167,496
209,003
NET INCOME/(EXPENDITURE)
(32,606)
25,698
(6,908)
(77,484)
RECONCILIATION OF FUNDS
Total funds brought forward
618,529
55,671
674,200
751,684
TOTAL FUNDS CARRIED FORWARD
585,923
81,369
667,292
674,200
The note5 form part of these financial statements
Page 6

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund5
Restricted
funds
Notes
FIXED ASSETS
Tang ible assets
Investments
li
12
507,367
20,010
43.647
551,014
20,010
558,469
20,010
527,377
43.647
571,024
578,479
CURRENT ASSETS
Debtors
Cash at bank and In hand
13
36,661
43,174
36,661
80,895
42,941
64,255
37,721
79,835
37,721
117,556
107,196
CREDITORS
Amounts falllng due withln one year
14
(21,288)
(21,288)
{11,475)
NET CURRENT ASSETS
58,547
37,721
96,268
95,721
TOTAL ASSETS LESS CURRENT
LIABILITIES
585,924
81,368
667,292
674,200
NET ASSETS
585,924
81,368
667,292
674,200
FUNDS
Unrestricted fund5:
General fund
Designated fund
16
43,548
542,376
70,255
548,274
585,924
618,529
Restricted funds
81,368
55,671
TOTAL FUNDS
667,292
674,200
The charitable company 15 entitled to exemption from audlt under Section 477 of the Companies Act
2006 for the year ended 31st December 2024.
The members have not requlred the company to obtain an audit of its flnanclal statements for the year
ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge thelr responsibilities for
(a)
ensuring that the charitable company keeps accounting record5 that comply wlth Sections 386 and
387 of the Companie5 Act 2006 and
preparing financial statement5 which give a true and fair view of the state of affairs of the
charitable company as at the end of each financial year and of its surplus or deflcit for each
financial year in accordance with the requirements of Sections 394 and 395 and which otherwise
comply wlth the requireTnents of the Companies Act 2006 relating to financial statements, so far
as applicable to the charitable company.
(b)
The note5 form part of these financial statements
Page 7
continued...

THI MIRCMAPIT'S IIQUSI (MARLWORQUGH) TRUJT
4TATRMIP4f op PXNAP4CZAk PQSZTIQP4 ￿ Vintlnuod
JIST QECIM8IR 2024
finaRE.141 6rAtoments névg b@en prepafoo ift éLE@rdAnc# with Ehe• grgVI@iofig applicdblP. tQ Eharitèbl@
The fjt9t@m@oÈg ¥Yer@ égPFuveO by tho &gard gr tfu5IQQ6 afl.o avthori&@g I@5Yg @11
?.4tn Jvin@ 2Q25 wp.ro oft Its b@héii by,.
A N fjdlvift-wrignt . Trust@6
G" r. D@étk@r - fru5t@
The rsUtPT4 fvi.tn part.. 9t Ih@sÈ fjniin¢iAI 5tai'etnÉnt

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
CHARITY INFORMATION
The company is a company limited by guarantee and Incorporated In England and Wales, and a
regIste￿d charity with the Charity Commlssion In England and Wales.
The reglstered office address 15 The Merchant's House, 132 High Street, Marlborough, Wiltshlre
SN8 IHN.
These flnanclal statement5 are presented in British Pounds (GBP), which is the charity's functlonal
and presentational currency.
ACCOUNTING POLICIES
Basis of preparing the financlal statements
The financial statements of the charitable companyi whlch Is a PLJbllc beneflt entlty under FRS 102,
have been prepared accordance with the Charities SORP (FRS 102) 'Accounting and Reportlng
by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts
in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective l January 2019),, Flnancial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006, The financlal
statements have been prepared under the historical cost convention, with the exception of
investments which are included at market value.
The financial statements are prepared on a golng concern basls under the historical cost
conventlon, modifled to Include certain Items at fair value. The financial statements are prepa￿d
in sterllng whlch is the funrtional currency of the charlty and rounded to the nearest pound.
There are no significant areas of Judgements or key sources of estlmation uncertainty.
The trustees consider that there are no material uncertainties about the Charlty's ability to
continue as a going concern.
Legal status of the Charity
The charity 15 a company limlted by guarantee and has no share capital. In the event of the charity
being wound up, the liabllity In respect of the guarantee is Ilmited to £1 per member of the
charity.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken exemption from preparing a cash flow statement under the charities SORP
(FRS 102) Update Bulletin l issued on 2 February 2016, a5 the charity constitutes a small charlty.
Preparation of consolidated flnancial statements
The company has taken advantage of the exemptions provided not to prepare group accounts.
The trustees do not consider the cost of preparing consolidated accounts Justiflable,
Income
All income Is recognlsed in the Statement of FinancSal Activitles once the charlty has entitlement to
the funds, it is probable that the income will be received and the amount can be measured
reliably.
Expenditure
Liabilities are recognised a5 expenditure as soon as there Ss a legal or constructive obligation
committing the charity to that expenditure, It is probable that a transfer of economic benefit5 wlll
be required in settlement and the amount of the obligation can be measured rellably. Expendlture
15 accounted for on an accruals basls and ha5 been classlfied under headings that aggregate all
C05t related to the category, Where costs cannot be directly attributed to particular headings they
have been allocated to activities on a basis conslstent wlth the Lise of resources.
Page 9
continued...

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES - contlnued
Governance costs
Governance costs include costs of the preparalion and examination of the statutory accounts, the
cost of trustee meetings and the cost of any legal advlce to trustees on governance or
constitutional matters.
Tangible flxed assets
Flxed assets are recorded at cost.
Depreciation Is provided on tangible Iixed assets so as to write off the cost or valuation, le55 any
estimated residual value, over thelr expected useful economic life as follows:
Museum Equipment
Office & computer equipment
Antiques & paintings
Freehold property
Improvements to leasehold property
6.67010 Straight line basis
20Vo Stralght Ilne basls
200/0 Stralght line basls
See below
IOOVO Straight line basls (see below)
The trustees conslder that owlng to the incomparable nature of the freehold property, It would be
difflcult to obtain a valuation under conventlonal valuation methods, Even If valuallons could be
obtained, the trustees consider that the costs would be onerous compared with the additional
benefits derived by users of the accounts. As such the freehold property Is being shown at cost
and is not depreciated.
The company has a lease of the property at 132 Hlgh Street and a5 a matter of pollcy writes off
the expense of any improvements carried out on the building as incurred.
Taxation
The charSty Is exempt from corporation tax on Its charitable attivltie5.
Fund accounting
Unrestricted funds can be used In accordance wlth the charltable objectives at the discretion of the
trustees but some of those funds are designated by the trustees for speclfic purposes.
Restrlcted funds can only be used for particular restricted purposes within the objerts of the
charlty. Restrictions arise when specified by the donor or when funds are raised for partlcular
restricted purposes.
Further explanatlon of the nature and purpose of each fund is included In the notes to the financlal
statements.
Debtors
Trade and other debtors a￿ recognlsed at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a Short
maturity of three months or less from the date of acquisition or openlng of the deposit or simllar
account.
Creditors
Creditor5 are recognised where the charity has a present obllgation resultlng from a past event
that wlll probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors are normally recognised at their
settlement amount after allowing for any trade discounts due.
Financial Instruments
Financial assets and liablllties are recognised and carried at transaction prlce, the Trust having no
'financing' transattions. For thls purpose, flnancial assets are trade and other receivables, cash
and bank balances and flnancial liabilitles are trade and other payables and loan5.
Page 10
contlnued..,

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - Contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
DONATIONS AND LEGACIES
2024
2023
Donations and legacie5
Glft ald
Subscriptions
69,325
1,103
3,698
22,510
633
3,417
74,126
26,560
Included In 'grants and donations, above are:
2024
2023
Marlborough Area Board
The Syder Foundation
Marlborough Town Council
Aurelius Trust
Fitton Trust
Legacies
Sarah Hunt
Other grants and donations
3,500
15,000
1,000
2,000
250
37,451
20,000
2,510
10,124
69,325
22,510
OTHER TRADING ACTIVITIES
2024
2023
Fundraising events
Admission fees
Glft of Shop profits
7,399
20,418
36,072
4,970
9,062
46,255
63,889
60,287
The trading shopi Merchant's House Trading (Marlborough) Llmited, profits for the year ended 31
December 2024 were £2,715, These were gifted in full to The Merchant's House (Marlborough)
Trust after the balance sheet date and therefore will appear in the 2025 statutory accounts.
INVESTMENT INCOME
2024
2023
Property rental income
Deposlt account interest
20,275
I,ooi
43,659
881
21,276
H,540
Page 11
continued.,.

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(credlting)',
2024
2023
DeprecSatlon - owned assets
7,455
11,030
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneratlon or other benefits for the year ended 31st December 2024
nor for the year ended 31st December 2023.
Trustees. expenses
Trustees, expenses totalling £nil (2023 £nil) for charitable expenditure were relmbur5ed by the
charlty.
STAFF COSTS
The average monthly number of employees during the year was a5 follows..
2024
2023
Trust Manager & Admlnistrators
No employees received emoluments in excess of £60,000.
INDEPENDENT EXAMINERS FEES
2024
2023
statutory accounts produttlon & external scrutlny
2,875
2,250
2,875
2,250
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacles
6,558
20,002
26,560
Charitable activities
Miscellaneous income
132
132
other tradlng activities
Investment income
60,287
44,540
60,287
44,540
Total
111,517
20,002
131,519
EXPENDITURE ON
Fundraising and event costs
871
871
Charltable actlvltles
House restoration, purchase of
furnlshings, and education
133,944
74,188
208,132
Total
134,815
74,188
209,003
Page 12
continued...

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
10. COMPARATIVE5 FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
Total
funds
NET INCOME/(EXPENDITURE)
Transfers between fund5
(23,298)
(40,275)
(54,186)
40,275
(77,484)
Net movement In funds
(63,573)
(13,911)
(77,484)
RECONCILIATION OF FUNDS
Total funds brought forward
682,102
69,582
751,684
TOTAL FUNDS CARRIED FORWARD
618,529
55,671
674,200
11. TANGIBLE FIXED ASSETS
Freehold
property
Museum
equipment
Leasehold
improv'nts
COST
At 1st January 2024 and
31st December 2024
517,157
55,115
748,577
DEPRECIATION
At 1st January 2024
Charge for year
22,050
3,675
748,577
At 31st December 2024
25,725
748,577
NET BOOK VALUE
At 31st December 2024
517,157
29,390
At 31st December 2023
517,157
33,065
Offlce &
computer
equipment
Antiques
& paintings
Totals
COST
At 1st January 2024 and
31st December 2024
256,827
31,481
1,609,157
DEPRECIATION
At 1st January 2024
Charge for year
250,464
3,082
29,597 1,050,688
698
7,455
At 31st December 2024
253,546
30,295
1,058,143
NET BOOK VALUE
At 31st December 2024
3,281
1,186
551,014
At 31st December 2023
6,363
1,884
558,469
Page 13
continued,.,

THE MERCHANT'S HOUSE {MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
12. FIXED ASSET INVESTMENTS
Shares In
group
undertaklngs
COST
At 1st January 2024 and
315t December 2024
20,010
NET BOOK VALUE
At 31st December 2024
20,010
At 31st December 2023
20,010
There were no investment assets outslde the UK.
The company's Investments at the balance sheet date In the share capital of companles include
the following:
Merchant's House Trading (Marlborough) Limited
Registered offfice: The Merchant's House, 132 High St￿et, Marlborough, Wlltshire SN8 IHN.
Nature of busine55.' Gift shop
Class of Share.,
Ordinary
holding
loo
2024
2023
Aggregate capital and reserves
27,068
60,592
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Amounts owed by group undertaklngs
VAT
Prepayment5 and accrued income
36,010
34,436
3,205
5,300
651
36,661
42,941
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loans and overdrafcs (see note 15)
VAT
Accruals and deferred income
149
1,402
19,737
11,475
21,288
11,475
Page 14
continued...

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
15. LOANS
An analy515 of the maturity of loans is given below..
2024
2023
Amounts falling due within one year on demand..
Bank overdrafts
149
16.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfer5
between
funds
At
31.12.24
At 1.1.24
Unrestrlcted funds
General fund
Designated fund
70,255
548,274
(26,707)
(5,898)
43,548
542,376
618,529
(32,605)
585,924
Restricted funds
Antique collections
Museum
Marlborough drawings
Town signs
Museum MTC
Modes Database
Marketing & Promotion
Conservation
Build ings repairs
Sir John Sykes Room
Chair Restoration
MHT Merch
353
43,802
1,554
875
3,395
1,203
844
730
2,915
(353)
(968)
42,834
(1,554)
(875)
799
{219)
4,194
984
(844)
730
21,546
10,000
80
1,000
25,005
{6,374)
10,000
80
1,000
55,671
25,697
81,368
TOTAL FUNDS
674,200
(6,908)
667,292
Net movement in funds, included in the above a￿ as follows..
Incoming
resources
Resources
expended
Movement
In funds
Unrestricted funds
General fund
Designated fund
92,457
1,000
{119,164)
(6,898)
(26,707)
(5,898)
93,457
(126,062)
(32,605)
Restrirted funds
Museum
Museum MTC
Modes Database
Buildings repalrs
Chalr Restoration
MHT Merch
500
1,000
{1,468)
(201)
(219)
(39,546)
(968)
799
(219)
25,005
80
1,000
64,551
80
1,000
67,131
(41,434)
25,697
TOTAL FUNDS
160,588
(167.496)
(6,908)
Page 15
continued...

THE MERCHANT'S HOUSE {MARLBOROUGH} TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
16. MOVEMENT IN FUNDS - contlnued
Comparatives for movement in funds
Net
movement
in funds
Transfers
be￿een
funds
At
31.12.23
At i,1.23
Unrestricted funds
General fund
Deslgnated fund
44,615
637,487
9,538
(32,836)
16,102
(56,377)
70,255
548,274
682,102
(23,298)
(40,275)
618,529
Restrlcted funds
Antique collections
Museum
Marlborough drawlngs
Education
Town signs
Museum MTC
Modes Database
Marketing & Promotion
Roof
Conservation
Buildlngs repairs
353
44,835
1,554
1,375
875
3,595
1,421
844
14,000
730
353
43,802
1,554
(1,033)
(1,375)
875
3,395
1,203
844
(200)
(218)
(54,275)
40,275
730
2,915
2,915
69,582
(54,186)
40,275
55,671
TOTAL FUNDS
751,684
(77,484}
674,200
Comparatlve net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
Designated fund
111,516
(101,978)
(32,836)
9,538
(32,836)
111,516
(134,814)
(1,033)
(1,375)
(200)
(218)
(54,275)
(17,085)
(23,298)
(1,033)
(1,375)
(200)
(218)
(54,275)
2,915
Restricted funds
Museum
Educatlon
Museum MTC
Modes Database
Roof
Buildings repairs
20,000
20,000
(74,186)
(54,186)
TOTAL FUNDS
131,516
{209,000}
{77,484}
Page 16
continued...

THE MERCHANT'S HOUSE {MARLBOROUGH} TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
16.
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months comblned positlon Is as follows:
Net
movement
in funds
Transfers
between
funds
At
31.12.24
At 1.1.23
Unrestricted funds
General fund
Designated fund
44,615
637,487
(17,169)
(38,734)
16,102
(56,377)
43,548
542,376
682,102
(55,903)
(40,275)
585,924
Restrlcted funds
Antique collections
Museum
Marlborough drawings
Education
Town slgns
Museum MTC
Modes Database
Marketing & Promotion
Roof
Conservation
Bulldings repairs
Sir John Sykes Room
Chair Restoration
MHT Merch
353
44,835
1,554
1,375
875
3,595
1,421
844
14,000
730
(353)
(2,001)
42,834
(1,554)
(1,375)
(875)
599
(437)
4,194
984
(844)
40,275
(54,275)
730
21,546
10,000
80
1,000
27,920
(6,374)
10,000
80
1,000
69,582
(28,489)
40,275
81,368
TOTAL FUNDS
751,684
(84,392)
667,292
A current year 12 months and prior year 12 months combined net movement in funds, included in
the above are as follows.,
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Deslgnated fund
203,973
1,000
(221,142)
(39,734)
(17,169)
(38,734)
204,973
(260,876)
(55,903)
Restrlcted funds
Museum
Education
Museum MTC
Modes Database
Roof
Buildings repairs
Chair Restoration
MHT Merch
500
(2,501)
(1,375}
(401)
(437)
(54,275)
(56,631)
(2,001)
(1,375)
599
<437)
(54,275)
27,920
80
1,000
1,000
84,551
80
1,000
87,131
(115,620)
(28,489)
TOTAL FUNDS
292,104
(376,496)
(84,392)
The following deslgnations have been made:
Page 17
contlnued..

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
16.
MOVEMENT IN FUNDS - contlnued
Balance at
31.12.2023
Movements/
Transfers in year
Balance at
31.12,2023
Purpose of deslgnation
Salarles and other running costs
Replacements for loaned ftjrnlture
Capltal projects
Essential repairs
Bulldlngs used for cha ritable pu rposes
Investment in Tradlng Company
16,500
4,250
25,730
4,989
476,795
20,010
16,500
4,250
25,730
4,989
470,897
20,010
(5,898)
548,274
{5,898)
542,376
17.
RELATED PARTY DISCLOSURES
During the year the charity received a donation from Its trading subsidiary The Merchant's House
Trading (Marlborough) Limited of £36,072 (2023 - £46,255). The trading subsidiary has agreed
after the balance sheet date to donate its net profit of £2,715 (2023 - £36,072) to the charity. At
the year end the subsidiary owed the charity £24,337 (2023 - £34,436).
18.
POST BALANCE SHEET EVENTS
The Merchant's House (Marlborough) Trust has agreed after the balance sheet date to extend the
lease on 132 Hlgh Street Marlborough for a further 25 years at £1 per annum.
19.
MEMBERS. LIABILITY
The charity is a private company limited by guarantee and consequently does not have share
capital. Each of the members Is liable to contribute an amount not exceeding £1 towards the
assets of the charity in the event of liquidation,
Page 18

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
2023
INCOME AND ENDOWMENTS
Donatlons and legacles
Donations and legacies
Gift aid
Subscriptions
69,325
1,103
3,698
22,510
633
3,417
74,126
26,560
Other trading activities
Fundraising events
Admisslon lees
Gift of shop profits
7,399
20,418
36,072
4,970
9,062
46,255
63,889
60,287
Investment income
Property rental income
Deposit account Interest
20,275
I,ooi
43,659
881
21,276
44,540
Charitable activities
Miscellaneous income
1,175
132
other Income
Other income
122
Total incoming resources
160,588
131,519
EXPENDrruRE
Other tradlng actlvltles
Fundraising event costs
2,138
871
Charitable activities
Employment costs
Establishment costs
Repairs and maintenance
Offi'ce expenses
Prlntingi Postage and stationery
Su bscriptions and donations
Depn leasehold property improvements
Depn of antiques & paintings
Depn of office & museum equipment
54,460
16,874
53,337
49,883
16,301
97,287
1,490
3,201
113
3,675
6,592
766
4.027
78
3,675
3.082
698
136,231
179,308
Support costs
Management
Establishment costs
Office expenses
Carried forward
437
6,593
7,030
2,561
9,295
11,856
Thls page does not form part of the Statutory financial statements
Page 19

THE MERCHANT'S HOUSE (MARLBOROUGH) TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
2023
Management
Brought forward
Sundry and other costs
7,030
335
11,856
577
7,365
12,433
Finance
Bank charges
383
353
Governance costs
Legal and professional fees
Accountancy fees
18,504
2,875
13,788
2,250
21,379
16,038
Total resources expended
167,496
209,003
Net expenditure
(6,908)
(77,484)
Thls page does not form part of the statutory flnancial statements
Page 20