Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**Registered number: 2866265 Charity number: 1030554**
## **NATIONAL JUSTICE MUSEUM**
**(A company limited by guarantee)**
**Trustees' report and financial statements**
**for the year ended 31 March 2024**
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Contents**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 11|
|**Independent auditors' report on the financial statements**|12 - 15|
|**Consolidated statement of financial activities**|16|
|**Consolidated balance sheet**|17|
|**Company balance sheet**|18|
|**Consolidated statement of cash flows**|19|
|**Notes to the financial statements**|20 - 42|
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Reference and administrative details of the Company, its Trustees and advisers for the year ended 31 March 2024**
|**Trustees**|S Campbell|
|---|---|
||M Blair (resigned 5 April 2023)|
||P Bowden, Chair|
||J Spencer|
||His Honour J Teare (resigned 5 April 2023)|
||His Honour R Chapple|
||C Hastie (resigned 20 June 2024)|
||E Somerville (resigned 14 December 2023)|
||N Williams|
||E Chapman|
||M Mathews (resigned 20 June 2024)|
||H Emmett|
||K J McNamara|
||C Foster (appointed 20 June 2024)|
||R Holford (appointed 20 June 2024)|
||L Walker-Parr (appointed 20 June 2024)|
||B Yallop (appointed 20 June 2024)|
|**Company registered**
**number**
2866265
**Charity registered**
**number**
1030554
**Registered office**
Shire Hall
High Pavement
Nottingham
NG1 1HN
**Chief executive officer**
V Reeves
**Independent auditors**
PKF Smith Cooper Audit Limited
Statutory Auditors
2 Lace Market Square
Nottingham
NG1 1PB
**Bankers**
National Westminster Bank plc
16 South Parade
Nottingham
NG1 2JX
**Solicitors**
Nelsons
Pennine House
8 Stanford Street
Nottingham
NG1 7BQ||
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Trustees' report for the year ended 31 March 2024**
The Trustees present their annual report together with the audited financial statements of the group and the company The National Justice Museum (“the museum”) for the year 1 April 2023 to 31 March 2024.The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Since the company and the group qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and activities**
## **a. Policies and objectives**
## **Our purpose**
'‘We tell the story of justice through time. We work inclusively and collaboratively with communities, supporting the creation of a fairer and equitable society.’
We empathetically enable people of all ages to extend their understanding of the law and justice system, so they are inspired by their rights and responsibilities to play an active role in society.’
We are a multi-award winning Museum and we are growing in national stature, winning the ‘Museums Change Lives’ award in 2021 for our innovative workshops in an envelope project. We are a leader in public legal learning and education and in developing diverse collaborations and partnerships for our work. Our learning programmes are delivered in centres across England, in our historic courtrooms in Nottingham, the Royal Courts of Justice and the Rolls Building in London, and in active courts in the North. Our ambition is to widen our learning offer to more UK locations.
Our museum is based in Nottingham’s former Shire Hall and County Gaol, a Grade II* listed building featuring a Victorian criminal and civil courtroom, an Edwardian police station and exhibitions exploring the fascinating history of justice, we house historically significant collections of over 40,000 objects that cover the history of the British Criminal Justice System. The City of Caves forms a key part of our offer and here we explore stories of social justice within Nottingham’s largest historic sandstone caves and the country’s only underground medieval tannery. We engage and entertain the public by including them in our unique, interactive performances.
In 2018 we became an Arts Council National Portfolio Organisation (NPO), with a specific remit to diversify our workforce and programmes. We have established a reputation nationally and regionally for our person-centred creative approach and have a growing, credible reputation as an arms open organisation, connecting communities through creative activity and providing services for diverse and not yet engaged groups. We take our museum out to people, engaging with new community partners to co-produce exhibitions and become more accessible to a wider and more diverse range of people and communities.
## **Our Vision is:**
‘For everyone - equity and justice through engagement, inspiration, learning, and unforgettable experiences.’
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
## **Objectives and activities (continued)**
## **Our values**
We work creatively and equitably with people and communities; our values are to be:
- Inclusive and equitable – we aspire to build a more diverse and representative organisation;
- Open and collaborative – we celebrate diversity, creative collaboration and partnership working, we listen to and respect people and we stimulate conversations with our communities, around the role of law, justice and society;
- Ambitious and dynamic – we embrace diverse people and thinking. We challenge ourselves so we develop and deliver excellence;
- Authentic – people learn and access our stories and history through experiencing our unique historic buildings and our museum collections;
- Be here for the future – we take a whole organisation approach to sustainability, ensuring we support people, partnerships and our environmental and economic future.
## **Our aims:**
We aim to:
- Excel as the national leader of public legal education;
- Maintain the financial resilience and sustainability of the organisation;
- Champion a green agenda and our commitment to environmental sustainability;
- Ensure the well-being of our workforce of staff and volunteers;
- Use our museum and collections creatively to support our work;
- Expand our audience reach and ensure positive and inclusive engagement and representation for all those that engage with us;
- Ensure integration, application and engagement with digital technology throughout the organisation.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Trustees' report (continued) for the year ended 31 March 2024**
## **Achievements and performance**
## **a. Review of activities**
During 2023/24 we continued to ensure that the organisation was putting in place plans for recovery post covid and in light of the cost of living crisis. To this end we applied and were successful in receiving £249,000 from the National Lottery Heritage fund for a resilience project which gave us funding to try out new income streams such as an escape room and widen our learning work creating NJM on Tour which took our learning offer into courtrooms nationally to test out a new way of delivery. This project also allowed us to recruit new staff to support income generation and the introduction of a clear framework for volunteering. In addition to this we continued to deliver our work around the Art Council’s ‘Let’s Create’ strategy and completed Ingenuity our project working in prisons funded by the Esmee Fairburn Foundation.
We continued to open both the National Justice Museum and the City of Caves to the public and operated a flexible approach to opening to ensure we were managing our costs and responding to demand, over the winter months we reverted to a 4 day a week opening pattern with access to pre booked school groups every day at the museum. Opening hours at the City of Caves were greater (7 days per week) than at the museum as this has a lower cost base and higher demand. Access to the Caves is still via a temporary entrance created when Broadmarsh was due to be re-developed. We have continued to actively liaise with all key stakeholders in the ongoing discussions about the future of this site.
During this year our corporate income continued to recover with a high demand for themed events and tours. Room hire slowed after the immediate post-lockdown period, as people returned to office working, but demand began to return and we have established relationships with suppliers who hire our space for regular events throughout the year.
During the year tenant income remained stable.
## **National Justice Museum Learning**
We inspire children and young people to explore their rights and responsibilities through heritage sites across England. From our base in Nottingham, National Justice Museum Education delivers innovative, inspiring public legal education at law courts and heritage sites in the Midlands, London, and the North. Young people across the country can learn from our programmes about the Justice system through in-court visits, outreach, our collections and virtual resources.
During 2023-24, Learning returned to pre-pandemic numbers across all sites. Court availability continued to impact capacity in London and the North, but an increased outreach offer across the north and the national NJM on Tour programme have continued to add flexibility and accessibility. Total school visits for the year 24,848.
By location:
## **Nottingham key developments** :
Numbers attending the core programme grew across the year and are now back at pre pandemic levels. Choices and Consequences became the recommended school visit in the City and County Knife and Weapons Guidance, which is issued to all schools in the county. The relationship with the Violence Reduction Partnership remained strong, funding interviews with another family bereaved through knife crime which are used in the Nottingham Space. Colleagues from the city and county youth justice teams continue to bring young people who are at risk of or have committed knife crime as part of their 1:1 support sessions. Nottingham staff trained up to deliver On Tour and will have new court targets of their own in the next academic year. Relationships with the universities have remained strong, with volunteers, work placements and projects carried out during the year.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
## **Achievements and performance (continued)**
London key developments:
Partnership projects with the Globe, Charles Dickens Museum and the University of Law continue, and delivery of KS5 sessions at the Rolls Building.
## **North key developments:**
Delivery across the north covers the following programmes:
- KS1 and lower KS2 delivery at the Greater Manchester Police Museum (Mondays only);
- KS2 upwards delivery at the Manchester Metropolitan University’s moot court (Wednesday and Friday);
- Outreach (KS1,2 and 3) delivered on Wednesdays and Thursdays across the North;
- NJM on Tour events delivered at a growing number of courts across the North.
The On Tour programme has developed significantly, as has the partnership with the DCRJs. The team in the north now work with the judges delivering Football in the Community events across the region. The learning manager for the north continues to be the national lead for On Tour and is in the process of training other learning managers to be able to pick up and run On Tour in their own regions. Outreach is also growing strongly, with schools now returning to book year on year, as well as new schools requesting visits following recommendation from colleagues.
## **Help a Child**
This fund continued to be used to offer a discount to schools that will struggle to raise the funds to visit, enabling NJM to fulfil the ACE Investment Principle ‘Inclusivity and relevance’, which specifically raises the challenges related to socio-economic background. However, the take up is increasing and we now need to raise more funds to ensure we can continue to offer the Help a Child..
We currently continue to offer a 25% discount (1 in 4 go free) to schools fitting any of the following criteria:
- Schools with a high percentage of free school meals (19% and above)
- Schools with Grade 4 (Inadequate) OFSTED ratings
- Schools identified as being in the 10% highest areas of deprivation according to the government indices of deprivation.
## **Creative programme activity linked to NPO status**
During this year we continued our work to develop and deepen our audiences through our collections and themes, particularly with audiences who traditionally can’t, won’t or don’t cross the museum’s threshold. We used a variety of means to do this, partly through our successful co-produced exhibition programme but also through our relationships with creative practitioners locally, nationally and internationally, our Project Lab and Make it Yours programme as well as through training and messaging to ensure that all our team adopted an inclusive approach.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
## **Achievements and performance (continued)**
## **Exhibitions throughout this year**
We had two key exhibitions in our temporary space during the year. Ingenuity, which was prototyped through a Project Lab phase co-productively with our communities in March 2023 and launched in September 2023 and ran through to January 2024. Ingenuity was a sensitive exploration of resourcefulness and creativity, developed with people living in prison. The exhibition highlighted our historic collection of objects made in prison settings. It was the culmination of a three-year project funded by the Esmee Fairburn Collections fund to the sum of £120,000 which enabled us to work co-productively across 54 prisons throughout the UK, with activity in our local community and a series of artist commissions. This ambitious project has connected people in open and closed communities with compassion and creativity. The project engaged 1000 people living in prison, the exhibition was visited by 19956 people in the museum and we received 723 responses from to provocations from the public. The celebration event engaged 120 attendees from across our communities and partner organisations.
Our international exhibition, Juvenile In Justice, was launched in February 2024 and highlighted the work of Californian artist and activist, Richard Ross, who has visited over 300 youth detention sites in over 35 American states and has documented the lives of more than 1,000 young people. Working co-productively, we shared images from Richard Ross’ collection with Breaking Barriers Building Bridges groups of young people across Nottingham and those detained in Swinfen Hall Young Offenders Institution, who offered their own creative responses and words of compassion and hope.
In May 2023 we also launched our exhibition, Darkness, a solo exhibit featuring twelve new portraits of subjects engaging with artefacts from the museum’s vast crime and punishment collection by internationally renowned artist, Brian Griffin. Darkness enabled a range of sitters through various community connections to take part in the project and respond to the museum artefacts in new and unusual ways. The portraits were hung in unexpected and authentic spaces around the museum. Visitors to were encouraged to explore the ancient cells of this former Georgian gaol to discover images in situ enabling them to consider the space in new ways. 6597 people visited in this period.
## Make It Yours on site creative workshop
These are free, experimental and friendly workshops to engage people in ‘making the museum theirs’, making something extraordinary together whist shaping or responding to an exhibition. Each one affords opportunities for new perspectives and approaches to the museum collection and themes, from a representative range of creative practitioners commissioned. They are often a first, accessible entry point to new visitors. The underpinning values and approaches are: creativity, togetherness, agency, community, wellbeing, relevance. In April 23-March 24, we ran 45 workshops and 368 engagements in these workshops, many of whom were new to the museum. Through evaluation, 89% of participants said that they learnt something new and found the workshops an empowering experience and 100% of participants said they would recommend the workshop to others.
## **Project Lab**
The project lab, a free friendly space full of representative books, a response area, sound lab and a display which is programmed all year round. Pop up person led activity in the space has proved successful in sharing practice and supporting our team and creative practitioner partners in their professional development. Project Labs within our temporary exhibition space during this period have included C2C Social Action, Heart in a Cage linked to the Ingenuity exhibition, No Comprendo and The Art of Belonging.
## **Museum bicycle and offsite creative events**
Our museum bicycle and ingenious carrying kit attended workshops and events across the city, carrying conversation and creativity between people and the museum. Building on the success of object walks, it supports our environmental action plan and our aim to work inclusively. Our creative and inclusive approach enables us to utilize our collection and themes of the museum and engage with audiences who traditionally can’t, won’t or don’t cross the threshold of the museum. Events which we supported across the city included Pride, Refugee Week, Green Hustle, International Women’s Day and Penned Up Festival to name a few.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Trustees' report (continued) for the year ended 31 March 2024**
## **Achievements and performance (continued)**
Rental Income
Available space within the museum was let on a commercial basis for the year, in 2023/24 the rental income was £115,425.
## **Heritage Assets Valuation**
A full valuation was carried out in December 2023 and we have subsequently adopted a review policy which specifies that a sample of higher value items is valued annually.
## **Depreciation**
Depreciation of exhibitions capital, as outlined in net incoming/outgoing resources, whilst being recorded in the accounts, has no cash effect and is added back to illustrate the real net income.
## **Volunteers**
The number of hours of time donated by general volunteers during the year is approximately 711 hours (2023: 1,305 hours). This has an approximate value of £15,024 (2023: £8,259) to the charity.
## **Conclusion**
This report relates to a year of unprecedented complexity and challenge for the museum, as it has been for many of our contemporaries and concludes with the Trustees recording their gratitude for the tireless effort and dedication of the Chief Executive and Financial Controller in maintaining the work and prominence of the Trust, and thanks to all of the museum’s senior leadership team.
The deficit for the year is £222,438. Adding back non-cash amounts (depreciation and amortisation) of £145,358 achieved a deficit of £77,080.
At 31 March 2024 the restricted reserves are £1,262,084 and unrestricted reserves are £380,482.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Trustees' report (continued) for the year ended 31 March 2024**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation given past performance and reserves levels that the Charity has adequate resources to continue in operational existence for the foreseeable future as the organisation recovers from the financial impact of Covid and the cost of living crisis. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Principal risks and uncertainties**
The Trust operates a Finance and Audit Committee as a sub-committee of the board of Trustees.
Meetings are held quarterly and as part of the tabled agenda a Risks Register for the museum is discussed alongside mitigation strategies.
Risk is measured from 1 5 by likelihood of occurring and impact if it does occur. Red 5 risks are brought to the Board with monitoring reports and discussed by the Trustees.
Principal risks for the trust during 2023/4 were:
- Earned income reduction
- The Caves entrance environment
- Visitor numbers retention alongside cost-of-living concerns
- Access to court space for our learning programmes
- Fundraising
- Changes in key staff
## **c. Reserves policy**
The National Justice Museum requires an appropriate level of reserves in order to operate effectively. The level should have regard to our aims, needs and objectives and the risks we face. It is the intention of the museum to follow the guidance of the Charity Commission to Trustees and the appropriate legislation.
The unrestricted general reserve at 31 March 2024 was £380,482 (2023: £524,051). It is the Trustees’ long term objective to build up sufficient reserves to cover 3-6 months of expenditure within five years.
The level of reserves and the reserves policy is overseen by the Finance and Audit Committee reporting to the main Board.
## **d. Principal funding**
The Trustees are satisfied that the charitable company's assets attributable to each of its individual funds are available and adequate to fulfil its obligations in relation to those funds. All funding sourced is held in restricted accounts and managed according to the requirements of the grant application and regulations by the funding body.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
## **Structure, governance and management**
## **a. Constitution**
The charity is registered as a company limited by guarantee.
The principal object of the company and the group is ” _the running of a museum of Crime and Punishment known as the "Galleries of Justice Museum" and the provision of a high profile, pro active Public Legal Education programme under the brand name of the "National Centre for Citizenship and the Law (NCCL)_ ". Under its new name of the National Justice Museum the company operates from the principal address which is Shire Hall, High Pavement, Lace Market, Nottingham, NG1 1HN. Since October 2010 the company has , in addition to its Nottingham venue, delivered public legal education activities in London , including at the Royal Courts of Justice where it has an office and dedicated staff , in Manchester and at numerous other court venues across the country.
We have a trading company which is a wholly owned subsidiary of National Justice Museum Ltd.
## **b. Methods of appointment or election of Trustees**
The management of the company and the group is the responsibility of the Trustees who are members and directors of the charity and are appointed under the terms of the Articles of Association.
## **c. Policies adopted for the induction and training of Trustees**
On joining the Board, Trustees take part in an induction programme facilitated by the Chief Executive where they gain an understanding of the operation and the business plan of the charity. As part of their role, Trustees are invited to staff training days as well as charity and museum governance and skills training.
## **d. Pay policy for senior staff**
A staff salary review takes place annually with the Chief Executive assessing the senior management team within their scales through a series of factors including: interest rates, performance, business growth, social outcomes and comparable sector salaries..
## **e. Organisational structure and decision making**
The Board of Trustees administers the charity. The Board meets quarterly and holds a quarterly general purposes call between board meetings. There are subgroup meetings including that of finance and audit that meets on a quarterly basis. A Chief Executive Officer (CEO) is appointed by the Trustees to manage the day-today operations of the charity. The CEO is supported by a senior management team consisting of a Director of Learning, Head of Marketing and Communications, Head of Finance, General Manager and Artistic Programme Manager.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
## **Plans for future periods**
We have recently applied for the extension year to NPO funding which had been offered by the Arts Council, this will provide a further year of funding whist we put plans together for our next application for the NPO funding period that will begin in 2027. We will also be continuing our conversations with the National Lottery Heritage Fund around continued development of the visitor attractions against the backdrop of a refresh of our strategy, work that is being supported by Experian with our Board and CEO.
We continue to maintain relationships with all key stakeholders linked to the City of Caves and the surrounding planned development of the Broadmarsh area.
We will be reviewing our NJM on Tour learning programme with a view to ensuring that we are able to continue and widen this work in a sustainable way as a new way of working to broaden our remit and reach.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Trustees' report (continued) for the year ended 31 March 2024**
Approved by order of the members of the board of Trustees and signed on their behalf by:
cc ................................................ 8242EECDF685480... by: **P Bowden** Chair of Trustees Date: 27/3/2025
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of National Justice Museum**
## **Opinion**
We have audited the financial statements of National Justice Museum (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the Company balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of National Justice Museum (continued)**
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- the parent charitable company has not kept sufficient accounting records; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
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Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of National Justice Museum (continued)**
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Group and industry, we identify the key laws and regulations affecting the Group. We have identified that the principal risk of fraud or non-compliance with laws and regulations related to:
- Management bias in respect of accounting estimates and judgements made;
- Management override of control;
- Posting of unusual journals or transactions.
We focussed on those areas that could give rise to a material misstatement in the Group's financial statements.
Our procedures included, but were not limited to:
- Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;
- Reviewing minutes of meetings of those charged with governance where available;
- Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 14
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Independent auditors' report to the Members of National Justice Museum (continued)**
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**PKF Smith Cooper Audit Limited** Statutory Auditors 2 Lace Market Square Nottingham NG1 1PB Date: 27/3/2025
PKF Smith Cooper Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 15
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Consolidated Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2024**
|**Note**
**Income from:**
Donations and legacies
2
Charitable activities
5
Other trading activities
3
Investments
4
Other income
6
**Total income**
**Expenditure on:**
Raising funds - other trading activities
3
Charitable activities
7
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
20
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Gains on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**55,048**
**1,335,939**
**241,525**
**1,999**
**3,416**
**1,637,927**
**181,323**
**1,592,696**
**1,774,019**
**(136,092)**
**(7,477)**
**(143,569)**
**-**
**(143,569)**
**524,051**
**(143,569)**
**380,482**|**Restricted**
**funds**
**2024**
**£**
**47,000**
**120,584**
**-**
**-**
**-**
**167,584**
**-**
**253,930**
**253,930**
**(86,346)**
**7,477**
**(78,869)**
**-**
**(78,869)**
**1,340,953**
**(78,869)**
**1,262,084**|**Total**
**funds**
**2024**
**£**
**102,048**
**1,456,523**
**241,525**
**1,999**
**3,416**
**1,805,511**
**181,323**
**1,846,626**
**2,027,949**
**(222,438)**
**-**
**(222,438)**
**-**
**(222,438)**
**1,865,004**
**(222,438)**
**1,642,566**|_Total_
_funds_
_2023_
_£_
_47,702_
_1,582,386_
_184,234_
_594_
_235_|
|---|---|---|---|---|
|||||_1,815,151_|
|||||_136,729_
_1,616,846_|
|||||_1,753,575_|
|||||_61,576_
_-_|
|||||_61,576_
_421,000_|
|||||_482,576_|
|||||_1,382,428_
_482,576_|
|||||_1,865,004_|
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 20 to 42 form part of these financial statements.
Page 16
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee) Registered number: 2866265**
## **Consolidated balance sheet As at 31 March 2024**
||||**2024**|**2024**||_2023_|
|---|---|---|---|---|---|---|
||**Note**||**£**|||_£_|
|**Fixed assets**|||||||
|Intangible assets|13||**35,856**|||_49,296_|
|Tangible assets|14||**1,307,590**|||_1,423,373_|
||||**1,343,446**|||_1,472,669_|
|**Current assets**|||||||
|Stocks|17|**12,265**|||_9,563_||
|Debtors|18|**238,000**|||_112,039_||
|Cash at bank and in hand||**467,262**|||_589,112_||
|||**717,527**|||_710,714_||
|Creditors: amounts falling due within one|||||||
|year|19|**(418,407)**|||_(318,379)_||
|**Net current assets**|||**299,120**|||_392,335_|
|**Total net assets**|||**1,642,566**|||_1,865,004_|
|**Charity funds**|||||||
|Restricted funds|20||**1,262,084**|||_1,340,953_|
|Unrestricted funds|20||**380,482**|||_524,051_|
|**Total funds**|||**1,642,566**|||_1,865,004_|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ cc8242EECDF685480... by: **P Bowden** Chair of Trustees Date: 27/3/2025
The notes on pages 20 to 42 form part of these financial statements.
Page 17
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee) Registered number: 2866265**
**Company balance sheet As at 31 March 2024**
||||**2024**|**2024**||_2023_|
|---|---|---|---|---|---|---|
||**Note**||**£**|||_£_|
|**Fixed assets**|||||||
|Intangible assets|13||**35,856**|||_49,296_|
|Tangible assets|14||**1,307,590**|||_1,423,373_|
|Investments|15||**1**|||_1_|
||||**1,343,447**|||_1,472,670_|
|**Current assets**|||||||
|Debtors|18|**223,810**|||_120,448_||
|Cash at bank and in hand||**449,956**|||_550,434_||
|||**673,766**|||_670,882_||
|Creditors: amounts falling due within one|||||||
|year|19|**(381,445)**|||_(292,836)_||
|**Net current assets**|||**292,321**|||_378,046_|
|**Total net assets**|||**1,635,768**|||_1,850,716_|
|**Charity funds**|||||||
|Restricted funds|20||**1,262,084**|||_1,340,953_|
|Unrestricted funds|20||**373,684**|||_509,763_|
|**Total funds**|||**1,635,768**|||_1,850,716_|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ cc **P Bowden** 8242EECDF685480... by: Chair of Trustees Date: 27/3/2025
The notes on pages 20 to 42 form part of these financial statements.
Page 18
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
|**Consolidated statement of cash flows**
**for the year ended 31 March 2024**
**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible and intangible fixed assets
Interest received
**Net cash used in investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2024**
**£**
**(107,714)**
**(16,135)**
**1,999**
**(14,136)**
**(121,850)**
**589,112**
**467,262**|_2023_
_£_
_114,236_
_(336,982)_
_594_
**(336,388)**
**(222,152)**
_811,264_
_589,112_|
|---|---|---|
The notes on pages 20 to 42 form part of these financial statements
Page 19
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
National Justice Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The financial statements are presented in Sterling which is the functional currency of the company and are rounded to the nearest £1.
## **1.2 Basis of consolidation**
The financial statements consolidate the accounts of National Justice Museum and its subsidiary undertaking ('subsidiary').
The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account.
For the year ended 31 March 2024 the company generated a deficit of £214,948 (2023: Surplus of £61,576).
## **Going concern**
The Trustees have reviewed latest management information, budgets and forecast cashflows to 31 March 2026. The Trustees are confident that the company and Group will have adequate resources to continue in operational existence for the foreseeable future and for a least one year from the date of approval of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **1.3 Company status**
The company is a company limited by guarantee. The members of the company are the Trusteesnamed on page 1. In the event of the company being wound up, the liability in respect of theguarantee is limited to £1 per member of the company.
Page 20
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies (continued)**
## **1.4 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **1.5 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Admission fees and school and education income are recognised when payment has been made. Where payment is made in advance, e.g. in respect of school trips, income recognition is deferred until the visit has been completed.
Rental income is recognised in line with the period of rental provided. Any payments in advance are deferred in the balance sheet.
The company is awarded grants, for which we are not entitled to recognise the income until costs have been defrayed for the purpose the grant was intended. Therefore the recognition of any grants received in advance is usually deferred in the balance sheet.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees' report and note 12 for more information about their contribution.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **1.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 21
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies (continued)**
## **1.7 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is categorised under the following headings:
- Costs of raising funds;
- Expenditure on charitable activities; and
- Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as a cost against the activity for which expenditure arose.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management costs. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Charitable activities are costs incurred by the company in the delivery of its activities undertaken to further the purposes of the company, including support costs and costs relating to the governance of the company apportioned to charitable activities.
## **1.8 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost or valuation, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Exhibition assets - 10% - 20% straight line basis - Leasehold improvements 5% - 10% straight line basis - Office equipment 20% - 33% straight line basis - Fixtures, fittings and resources 10% - 50% straight line basis
Page 22
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies (continued)**
## **1.9 Intangible assets and amortisation**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows
Amortisation is provided on the following basis:
- Website / Software Development 5 years
## **1.10 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## **1.11 Operating leases**
Rentals paid under operating leases are charged to the consolidated statement of financial activities on a straight-line basis over the lease term.
Rental income under operating leases are charged to the consolidated statement of financial activities on a straight line basis over the lease term.
## **1.12 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
## **1.13 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.14 Cash at bank and in hand**
Cash at bank and 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 opening of the deposit or similar account.
Page 23
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies (continued)**
## **1.15 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 normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.16 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.17 Pensions**
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
## **1.18 Heritage assets**
The company holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the company.
Newly purchased heritage assets will be capitalised at cost, including any incidental expenses of acquisition.
On the inception of FRS 102, those assets acquired in past accounting periods were included in the financial statements, where practicable, at open market value. The majority of assets were donated to the company.
Where heritage assets were acquired in past accounting periods and not capitalised, it can be difficult or costly to attribute a cost or value to them. In such cases, these assets are excluded from the balance sheet if reliable cost information is not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstruction or analysis of past accounting records or in valuation, which are onerous compared with the additional benefit derived by users of the accounts in assessing the Trustees' stewardship of the assets.
The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is therefore not provided.
It is the Trust’s policy that a whole collection valuation will be undertaken every 3 years. A sample valuation of high value objects will be undertaken annually to assess whether valuation adjustments need to be made. The Head of Collections and Research, who is considered to be suitably qualified, will undertake the valuations of the collections and will seek external advice if deemed necessary.
## **1.19 Irrecoverable VAT**
The company is registered for VAT, however due to the mixed nature of the supplies it makes, it has irrecoverable VAT arising due to partial exemption which is included in resources expended.
Page 24
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **1. Accounting policies (continued)**
## **1.20 Judgments in applying accounting policies and key sources of estimation uncertainty**
The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The Trustees are of the opinion that there are no key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, except for the valuation of heritage assets.
**Heritage assets** - fair values have been estimated by the Trustees, with reference to previous external independent valuations, on an open market basis.
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**2024**
**£**
Donations
34,253
Similar incoming resources
20,795
55,048
_Total 2023_
_47,702_|**Restricted**
**funds**
**2024**
**£**
47,000
-
47,000
_-_|**Total**
**funds**
**2024**
**£**
**81,253**
**20,795**
**102,048**
_47,702_|_Total_
_funds_
_2023_
_£_
_18,886_
_28,816_|
|---|---|---|---|
||||_47,702_|
|||||
Page 25
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **3. Income from trading activities**
The wholly owned subsidiary, National Justice Museum Trading Limited (company number 03476430), is incorporated in the UK and distributes all of its taxable profits to the charity under the gift aid scheme. The company operates the shop and corporate events at the National Justice Museum. The charity owns 100% of the ordinary share capital of the company. A summary of trading results pre distribution to the charity is shown below.
|**Unrestricted**
**funds**
**2024**
**£**
**Trading income**
Sales
241,525
241,525
**Trading expenses**
Opening stock
(9,563)
Closing stock
12,265
Direct shop and cafe costs
(32,862)
Direct corporate costs
(62,153)
Administrative expenses
(32,476)
Wages and salaries
(51,695)
Employers NI
(3,870)
Fundraising trading expenses - Pensions
(969)
(181,323)
**Net income from trading activities**
60,202
**Investment income**
**Unrestricted**
**funds**
**2024**
**£**
Investment income
1,999
_Total 2023_
_594_|**Total**
**funds**
**2024**
**£**
**241,525**
**241,525**
**(9,563)**
**12,265**
**(32,862)**
**(62,153)**
**(32,476)**
**(51,695)**
**(3,870)**
**(969)**
**(181,323)**
**60,202**
**Total**
**funds**
**2024**
**£**
**1,999**
_594_|_Total_
_funds_
_2023_
_£_
_184,234_
_184,234_
_(11,434)_
_9,563_
_(15,899)_
_(53,397)_
_(15,915)_
_(45,270)_
_(3,545)_
_(832)_
_(136,729)_
_47,505_
_Total_
_funds_
_2023_
_£_
_594_|
|---|---|---|
## **4. Investment income**
Page 26
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **5. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Admission fees
748,448
Rental Income
115,425
Schools and education income
227,650
National Portfolio Organisations income
244,416
Esmee Fairbairn income
-
Museum Estate and Development Fund –
ACE
-
Choices and Consequences income
-
NHLF reframed income
-
Other grant income
-
1,335,939
_Total 2023_
_1,199,742_|**Restricted**
**funds**
**2024**
**£**
-
-
150
-
15,671
10,368
9,875
84,520
-
120,584
_382,644_|**Total**
**funds**
**2024**
**£**
**748,448**
**115,425**
**227,800**
**244,416**
**15,671**
**10,368**
**9,875**
**84,520**
**-**
**1,456,523**
_1,582,386_|_Total_
_funds_
_2023_
_£_
_623,047_
_108,455_
_223,868_
_244,416_
_39,560_
_332,610_
_9,174_
_-_
_1,256_|
|---|---|---|---|
||||_1,582,386_|
|||||
## **6. Other incoming resources**
|Consultancy and other income
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
3,416
_235_|**Total**
**funds**
**2024**
**£**
**3,416**
_235_|_Total_
_funds_
_2023_
_£_
_235_|
|---|---|---|---|
|||||
Page 27
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£**
Cost of charitable activities
1,592,696
_Total 2023_
_1,399,061_|**Restricted**
**funds**
**2024**
**£**
253,930
_217,785_|**Total**
**2024**
**£**
**1,846,626**
_1,616,846_|_Total_
_2023_
_£_
_1,616,846_|
|---|---|---|---|
|||||
## **8. Analysis of expenditure by activities**
|Cost of charitable activities
_Total 2023_|**Activities**
**undertaken**
**directly**
**2024**
**£**
922,055
_863,365_|**Support**
**costs**
**2024**
**£**
924,571
_753,481_|**Total**
**funds**
**2024**
**£**
**1,846,626**
_1,616,846_|_Total_
_funds_
_2023_
_£_
_1,616,846_|
|---|---|---|---|---|
||||||
## **Analysis of direct costs**
|Staff costs
Marketing
Exhibition
Community
Education and learning
_Total 2023_|**Cost of**
**charitable**
**activities**
**2024**
**£**
688,302
56,427
59,243
69,535
48,548
922,055
_863,365_|**Total**
**funds**
**2024**
**£**
**688,302**
**56,427**
**59,243**
**69,535**
**48,548**
**922,055**
_863,365_|_Total_
_funds_
_2023_
_£_
_620,454_
_52,128_
_65,645_
_49,537_
_75,601_|
|---|---|---|---|
||||_863,365_|
|||||
_Total 2023_
Page 28
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation and amortisation
Office
Property
_Total 2023_|**Cost of**
**charitable**
**activities**
**2024**
**£**
327,143
145,358
312,562
139,508
924,571
_753,481_|**Total**
**funds**
**2024**
**£**
**327,143**
**145,358**
**312,562**
**139,508**
**924,571**
_753,481_|_Total_
_funds_
_2023_
_£_
_324,499_
_135,284_
_130,670_
_163,028_|
|---|---|---|---|
||||_753,481_|
|||||
The total value of legal services donated to the Trust during the year was £2,030 (2023 - £2,065).
## **9. Auditors' remuneration**
The Auditors' remuneration for the group amounts to total audit fees of £30,920 (2023 - £27,650) and fees for non-audit services of £1,740 (2023 - £950).
Page 29
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
Expenses waived by Trustees totalled £Nil (2023 - £Nil) in relation to travel costs incurred but not reimbursed.
## **11. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2024**
**£**
**979,741**
**72,824**
**19,414**
**1,071,979**|_Group_
_2023_
_£_
_917,616_
_59,452_
_17,532_
_994,600_|**Company**
**2024**
**£**
**928,046**
**68,954**
**18,445**
**1,015,445**|_Company_
_2023_
_£_
_872,346_
_55,907_
_16,700_|
|---|---|---|---|---|
||||||
|||||_944,953_|
During the year, statutory redundancy pay of £nil (2023: £1,949) was paid.
The average number of persons employed during the year was as follows:
||**Group**|_Group_|**Company**|_Company_|
|---|---|---|---|---|
||**2024**|_2023_|**2024**|_2023_|
||**No.**|_No._|**No.**|_No._|
|Employees|**70**|_64_|**70**|_64_|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**Group**|_Group_|
|---|---|---|---|
|||**2024**|_2023_|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**-**|_1_|
|In the band £70,001|- £80,000|**1**|_-_|
The total amount of employee benefits received by key management personnel is £331,443 (2023: £225,469).
The number of hours of time donated by general volunteers during the year is approximately 1,247 hours (2023: 711 hours). This has an approximate value of £15,024 (2023: £8,259) to the charity.
## **12. Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Page 30
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Notes to the financial statements for the year ended 31 March 2024**
|**13.**
**Intangible assets**
**Group and Company**
**Cost**
At 1 April 2023
At 31 March 2024
**Amortisation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Website /**
**Software**
**Development**
**£**
**67,248**|
|---|---|
||**67,248**|
||**17,952**
**13,440**|
||**31,392**|
||**35,856**|
||_49,296_|
Page 31
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **14. Tangible fixed assets**
## **Group**
|**Cost & valuation**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
On disposals
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Freehold**
**property**
**£**
**1,697,592**
**-**
**-**
**1,697,592**
**1,572,619**
**28,030**
**-**
**1,600,649**
**96,943**
_124,973_|**Long-term**
**leasehold**
**property**
**£**
**1,557,914**
**-**
**-**
**1,557,914**
**1,047,762**
**76,128**
**-**
**1,123,890**
**434,024**
_510,152_|**Office**
**equipment**
**£**
**443,742**
**16,135**
**(7,283)**
**452,594**
**408,445**
**21,441**
**(7,283)**
**422,603**
**29,991**
_35,297_|**Fixtures,**
**fittings and**
**resources**
**£**
**87,559**
**-**
**-**
**87,559**
**60,645**
**6,319**
**-**
**66,964**
**20,595**
_26,914_|**Heritage**
**assets**
**£**
**726,037**
**-**
**-**
**726,037**
**-**
**-**
**-**
**-**
**726,037**
_726,037_|**Total**
**£**
**4,512,844**
**16,135**
**(7,283)**
**4,521,696**
**3,089,471**
**131,918**
**(7,283)**
**3,214,106**
**1,307,590**
_1,423,373_|
|---|---|---|---|---|---|---|
Page 32
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **14. Tangible fixed assets (continued)**
## **Company**
|**Cost & valuation**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Exhibition**
**assets**
**£**
**1,697,592**
**-**
**1,697,592**
**1,572,619**
**28,030**
**1,600,649**
**96,943**
_124,973_|**Leasehold**
**improvements**
**£**
**1,557,914**
**-**
**1,557,914**
**1,047,762**
**76,128**
**1,123,890**
**434,024**
_510,152_|**Office**
**equipment**
**£**
**412,021**
**16,135**
**428,156**
**376,724**
**21,441**
**398,165**
**29,991**
_35,297_|**Fixtures,**
**fittings and**
**resources**
**£**
**87,559**
**-**
**87,559**
**60,645**
**6,319**
**66,964**
**20,595**
_26,914_|**Heritage**
**assets**
**£**
**726,037**
**-**
**726,037**
**-**
**-**
**-**
**726,037**
_726,037_|**Total**
**£**
**4,481,123**
**16,135**|
|---|---|---|---|---|---|---|
|||||||**4,497,258**|
|||||||**3,057,750**
**131,918**|
|||||||**3,189,668**|
|||||||**1,307,590**|
|||||||_1,423,373_|
Heritage assets held are historical, scientific and artistic artefacts. They were subject to an independent, professional valuation in November 2010. Subsequent valuations were undertaken in March and June 2019 by Mellors and Kirk Fine Art Auctioneers & Valuers on an open market basis.
The 2010 and 2019 valuation reports were reviewed and updated in November 2023 by Mellors and Kirk Fine Art Auctioneers & Valuers on an open market basis. In addtion for the rest of the museum collection, a valuation review was carried out in November 2023 by the Museum's Senior Curator and Archivist on an open market basis.
The Trustees believe the carrying value of £726,037 represents the open market value as at 31 March 2024.
Page 33
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **15. Fixed asset investments**
|**Company**
**Cost or valuation**
At 1 April 2023
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Investments**
**in**
**subsidiaries**
**£**
**1**|
|---|---|
||**1**|
||**1**|
||_1_|
## **16. Principal Subsidiaries**
## **National Justice Museum Trading Limited**
Subsidiary name: National Justice Museum Trading Limited
Company registration number: 03476430
Basis of control: Equity share capital
Equity shareholding %: 100%
Total assets as at 31 March 2024: £48,520 Total liabilities as at 31 March 2024: £(41,721) Total equity as at 31 March 2024: £6,799 Turnover for the year ended 31 March 2024: £241,525 Expenditure for the year ended 31 March 2024: £(181,323) Profit for the year ended 31 March 2024: £60,202
Page 34
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **17. Stocks**
||**Group**|_Group_|
|---|---|---|
||**2024**|_2023_|
||**£**|_£_|
|Shop and corporate stock|**12,265**|_9,563_|
## **18. Debtors**
|**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2024**
**£**
**44,982**
**-**
**25,629**
**167,389**
**238,000**|_Group_
_2023_
_£_
_90,228_
_-_
_17,116_
_4,695_
_112,039_|**Company**
**2024**
**£**
**26,731**
**4,759**
**24,931**
**167,389**
**223,810**|_Company_
_2023_
_£_
_72,056_
_26,581_
_17,116_
_4,695_|
|---|---|---|---|---|
||||||
|||||_120,448_|
## **19. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2024**
**£**
**186,328**
**26,875**
**10,015**
**195,189**
**418,407**|_Group_
_2023_
_£_
_64,741_
_22,977_
_7,553_
_223,108_
_318,379_|**Company**
**2024**
**£**
**177,677**
**26,228**
**10,015**
**167,525**
**381,445**|_Company_
_2023_
_£_
_59,046_
_18,003_
_7,553_
_208,234_|
|---|---|---|---|---|
||||||
|||||_292,836_|
Page 35
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **20. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
Designated fund - NPO
ACE CRF Grant
Reserves - subsidiary
**Restricted funds**
Heritage Assets
HAC
HLF project
Biffa project
Choices and Consequences
project
Art Fund Grant
Esmee Funding
Foyle Foundation
Museum Estate and
Development Fund – ACE
National Lottery Heritage fund -
Reframed
Standing in this place
**Total of funds**|**Balance at 1**
**April 2023**
**£**
**365,009**
**136,624**
**8,129**
**14,289**
**524,051**
**726,037**
**32,801**
**213,398**
**35,071**
**6,727**
**16,028**
**442**
**33,833**
**276,616**
**-**
**-**
**1,340,953**
**1,865,004**|**Income**
**£**
**1,151,986**
**244,416**
**-**
**241,525**
**1,637,927**
**-**
**150**
**-**
**-**
**9,875**
**-**
**15,671**
**-**
**10,368**
**84,520**
**47,000**
**167,584**
**1,805,511**|**Expenditure**
**£**
**(1,339,284)**
**(249,384)**
**(4,028)**
**(181,323)**
**(1,774,019)**
**-**
**(27,693)**
**(53,598)**
**(6,900)**
**(12,209)**
**(8,436)**
**(23,200)**
**(1,750)**
**(37,122)**
**(83,022)**
**-**
**(253,930)**
**(2,027,949)**|**Transfers**
**in/out**
**£**
**67,692**
**(7,477)**
**-**
**(67,692)**
**(7,477)**
**-**
**-**
**-**
**-**
**-**
**-**
**7,477**
**-**
**-**
**-**
**-**
**7,477**
**-**|**Balance at**
**31 March**
**2024**
**£**
**245,403**
**124,179**
**4,101**
**6,799**|
|---|---|---|---|---|---|
||||||**380,482**|
||||||**726,037**
**5,258**
**159,800**
**28,171**
**4,393**
**7,592**
**390**
**32,083**
**249,862**
**1,498**
**47,000**|
||||||**1,262,084**|
||||||**1,642,566**|
Page 36
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **20. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted**
**funds**
General Funds -
all funds
Designated fund
- NPO
Government
grants
ACE CRF Grant
Reserves -
subsidiary
**Restricted**
**funds**
Heritage Assets
HAC
HLF project
Biffa project
Choices and
Consequences
project
Art Fund Grant
Esmee Funding
Foyle
Foundation
Museum Estate
and
Development
Fund – ACE
**Total of funds**|_Balance at_
_1 April 2022_
_£_
_238,440_
_83,946_
_129,321_
_12,931_
_14,289_
_478,927_
_305,037_
_48,243_
_412,264_
_41,971_
_11,767_
_24,024_
_5,195_
_35,000_
_20,000_
_903,501_
_1,382,428_|_Income_
_£_
_1,003,857_
_244,416_
_-_
_-_
_184,234_
_1,432,507_
_-_
_300_
_1,000_
_-_
_9,174_
_-_
_39,560_
_-_
_332,610_
_382,644_
_1,815,151_|_Expenditure_
_£_
_(1,073,200)_
_(191,738)_
_(129,321)_
_(4,802)_
_(136,729)_
_(1,535,790)_
_-_
_(15,742)_
_(56,159)_
_(6,900)_
_(14,214)_
_(7,996)_
_(39,613)_
_(1,167)_
_(75,994)_
_(217,785)_
_(1,753,575)_|_Transfers_
_in/out_
_£_
_195,912_
_-_
_-_
_-_
_(47,505)_
_148,407_
_-_
_-_
_(143,707)_
_-_
_-_
_-_
_(4,700)_
_-_
_-_
_(148,407)_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_421,000_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_421,000_
_421,000_|_Balance at_
_31 March_
_2023_
_£_
_365,009_
_136,624_
_-_
_8,129_
_14,289_|
|---|---|---|---|---|---|---|
|||||||_524,051_|
|||||||_726,037_
_32,801_
_213,398_
_35,071_
_6,727_
_16,028_
_442_
_33,833_
_276,616_|
|||||||_1,340,953_|
|||||||_1,865,004_|
Page 37
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **20. Statement of funds (continued)**
Heritage assets represent the open market value of heritage assets held within the museum.
HAC fund represents donations made to the charity in respect of the crime and punishment education of children.
HLF project represents the restricted funding received in respect of the grant for the Justice; Past, Present and Future, Nottingham project and emergency funding received during the pandemic.
The Biffa project represents funding received in respect of a new exhibition located in the Museum's Edwardian Police Station, that tells the story of the Home Office's pathologist Sir Bernard Spilsbury's life and lasting contribution to forensic science.
Choices and Consequences – an ongoing partnership with the Ben Kinsella Trust has brought ‘Choices and Consequences’ to the NJM. Installed in the police station, this interactive series of workshops delivers an anti knife crime message to young people aged 10 – 14. The school sessions were fully launched in September 2019.
Art Fund - Connecting for the Future enabled us to install wifi throughout the National Justice Museum and create a general visitor and family tour of the building for the museum website. The total grant awarded was £35,000.
Government Grants - These monies are in relation to the Local Restriction Grants and Additional Voluntary Grants distributed by Nottingham City Council on behalf of the government in relation to the national and local lockdowns and introduction of Tiers during the Covid pandemic.
ACE CRF - We were awarded a grant of £122,000 from the Arts Council England Culture Recovery Fund to support wages and overhead costs during the period April 2021 – June 2021.
Esmee - In February 2020 we were awarded a total amount of £120,000 from the Esmée Fairbairn Collections Fund, for a three year project (£40,000 per year) titled ‘Ingenuity, Creativity and Hope’ where the aim is to generously share historic objects crafted by people in prison as a creative stimulus for rehabilitative activity and response. The legacy of this project has continued into 23/24.
Foyle Foundation - The Foyle Foundation awarded a grant of £35,000 in July 2021 to support the cost of replacing the lift in the Museum. The lift was fully operational in August 2022.
Museum Estate and Development Fund - MEND project work commenced in June 2022 including roof works, boiler replacement, heritage maintenance and conservation works and fire alarm system replacement. These works were completed by November 2022 and a number of technical visits were made to site as part of the project to ensure that all operations were running in line with the contracted terms.
National Lottery Heritage fund - Reframed – we were awarded £249,000 in May 2023 for a resilience project will run until June 2025. This is for a number of projects to test out new ideas and income streams to assist the charity in building a sustainable future.
Standing in this place, a new bronze statue was commissioned by NJM at a cost of £194,700, to be paid for by external funders.
Page 38
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **21. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds|General funds
Restricted funds|**Balance at 1**
**April 2023**
**£**
**524,051**
**1,340,953**
**1,865,004**
_Income_
_£_
_1,432,507_
_382,644_
_1,815,151_|**Income**
**£**
**1,637,927**
**167,584**
**1,805,511**
_Expenditure_
_£_
_(1,535,790)_
_(217,785)_
_(1,753,575)_|**Expenditure**
**£**
**(1,774,019)**
**(253,930)**
**(2,027,949)**
_Transfers_
_in/out_
_£_
_148,407_
_(148,407)_
_-_|**Transfers**
**in/out**
**£**
**(7,477)**
**7,477**
**-**
_Gains/_
_(Losses)_
_£_
_-_
_421,000_
_421,000_|**Balance at**
**31 March**
**2024**
**£**
**380,482**
**1,262,084**|
|---|---|---|---|---|---|---|
|||||||**1,642,566**|
|||||||_Balance at_
_31 March_
_2023_
_£_
_524,051_
_1,340,953_|
|**Summary of funds - prior year**|||||||
|General funds
Restricted funds|_Balance at_
_1 April 2022_
_£_
_478,927_
_903,501_
_1,382,428_||||||
|||||||_1,865,004_|
## **22. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
99,383
Intangible fixed assets
35,856
Current assets
612,952
Creditors due within one year
(367,709)
**Total**
380,482|**Restricted**
**funds**
**2024**
**£**
1,208,207
-
104,575
(50,698)
1,262,084|**Total**
**funds**
**2024**
**£**
**1,307,590**
**35,856**
**717,527**
**(418,407)**|
|---|---|---|
|||**1,642,566**|
Page 39
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **22. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period**
|_Unrestricted_
_funds_
_2023_
_Restricted_
_funds_
_2023_
_£_
_£_
Tangible fixed assets
_114,904_
_1,308,469_
Intangible fixed assets
_49,296_
_-_
Current assets
_603,566_
_107,148_
Creditors due within one year
_(243,715)_
_(74,664)_
**Total**
_524,051_
_1,340,953_
**23.**
**Reconciliation of net movement in funds to net cash flow from operating activities**
**Group**
**2024**
**£**
Net income/expenditure for the period (as per Statement of Financial
Activities)
**(222,438)**
**Adjustments for:**
Depreciation charges
**131,918**
Amortisation charges
**13,440**
Decrease/(increase) in stocks
**(2,702)**
Increase in debtors
**(125,961)**
Increase/(decrease) in creditors
**100,028**
Interest received
**(1,999)**
**Net cash provided by/(used in) operating activities**
**(107,714)**|_Total_
_funds_
_2023_
_£_
_1,423,373_
_49,296_
_710,714_
_(318,379)_|
|---|---|
||_1,865,004_|
||_Group_
_2023_
_£_
_61,576_|
||_123,557_
_11,727_
_1,871_
_(38,746)_
_(45,155)_
_(594)_|
|||
||_114,236_|
## **24. Analysis of cash and cash equivalents**
||**Group**|_Group_|
|---|---|---|
||**2024**|_2023_|
||**£**|_£_|
|Cash in hand|**467,262**|_589,112_|
Page 40
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
## **NATIONAL JUSTICE MUSEUM**
## **(A company limited by guarantee)**
## **Notes to the financial statements for the year ended 31 March 2024**
## **25. Analysis of changes in net debt**
|Cash at bank and in hand|**At 1 April**
**2023**
**£**
**589,112**
**589,112**|**Cash flows**
**£**
**(121,850)**
**(121,850)**|**At 31 March**
**2024**
**£**
**467,262**|
|---|---|---|---|
||||**467,262**|
## **26. Pension commitments**
The Group and Company operate a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £19,414 (2023 - £17,532). Contributions totalling £4,589 (2023 - £3,821) were payable to the fund at the balance sheet date.
## **27. Operating lease commitments**
At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2024**
**£**
**3,483**
**7,317**
**10,800**|_Group_
_2023_
_£_
_3,731_
_10,800_
_14,531_|**Company**
**2024**
**£**
**3,483**
**7,317**
**10,800**|_Company_
_2023_
_£_
_3,731_
_10,800_|
|---|---|---|---|---|
|||||_14,531_|
## **28. Related party transactions**
The Group has entered into transactions with Social Higher Education Depot CIC (S.H.E.D). Jennifer Spencer is a Trustee of the Charity and a stakeholder of S.H.E.D. During the year there were purchases made from S.H.E.D of £Nil (2023: £1,500). There were no amounts outstanding at the year end (2023: £Nil).
The Group has entered into transactions with Notts TV Limited. Michael Blair is a Trustee of the Charity and a Director of Notts TV Limited. During the year there were purchases made from Notts TV of £Nil (2023: £960). There were no amounts outstanding at the year end (2023: £Nil).
The Group has taken advantage of the exemption under S.33 1A of FRS 102 from disclosing transactions entered into between two or more members of the group as the subsidiary is fully owned.
Page 41
Docusign Envelope ID: 44F7CFE5-2154-4753-BEE2-6837CF736AC2
**NATIONAL JUSTICE MUSEUM (A company limited by guarantee)**
**Notes to the financial statements for the year ended 31 March 2024**
## **29. Controlling party**
National Justice Museum is a company limited by guarantee and accordingly does not have share capital.
Every member of the charitable Company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable Company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
There is no ultimate controlling party of the charitable Company.
Page 42