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2025-12-31-accounts

Lyme Regis (Philpot) Museum Trust Limited (A Charitable Company Limited by Guarantee) Annual Report and Financial Statements

For the Year Ended 31 December 2025

Company Number: 2855423 Charity Registered in England and Wales Number: 1041201

Lyme Regis (Philpot) Museum Trust Limited Contents For the Year Ended 31 December 2025

Page
Contents 1
Reference and Administrative Details 2 - 3
Trustees’ Annual Report 4 – 17
Independent Examiner’s Report 18
Statement of Financial Activities 19
Balance Sheet 20
Notes to the Financial Statements 21 – 33

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Reference and Administrative Details For the Year Ended 31 December 2025

Trustees and Directors

Staffing Sub-Committee

Jonathan Evans (Chair) James Thomas (Deputy Chair) Mike Barclay Stewart Dodd Wayne Earp Jan English Nick Gostling Deborah Hodd Rhys Paterson Kate Pitts Jonathan Evans Kate Pitts Jan English Bridget Houseago

Subsidiary:

Lyme Regis Museum Shop Ltd Kate Pitts (Director and Chair) Wayne Earp (Director) Lisa Looker (independent director) Bridget Houseago (Director) Lyme Regis Fossil Festival CIC Jonathan Evans (Director) Wayne Earp (Director and Chair) Bridget Houseago (Director) Paul Davis (Director) Alan Vian (Director) Lyme Regis Museum Staff Bridget Houseago Museum Director Paula Silverthorne Commercial Operation Manager Liz Parris Visitor Services Manager Sophia Moseley Visitor Services Manager Kieran Satchel Learning Officer Paul Davis Geology Curator Eleanor Wentzell Marketing Officer Lydia Graves Asst Fossil Walk Guide Linda Paterson Museum Visitor Services Carol Stoodley Finance and Admin Officer Marni Barlow Visitor Services Assistant Company Secretary Albert Goodman LLP Company Number 2855423 Charity Number 1041201

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Reference and Administrative Details For the Year Ended 31 December 2025

Principal Office and Registered Office Lyme Regis Museum
Bridge Street
Lyme Regis
Dorset
DT7 3QA
www.lymeregismuseum.co.uk
museum@lymeregismuseum.co.uk
Independent Examiner Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Bankers Lloyds Bank plc
25 Gresham Street
London
EC2V 7HN

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

The trustees, who are also directors for the purposes of the Companies Act, present their report and the unaudited financial statements of the charity for the year ended 31 December 2025.

Lyme Regis (Philpot) Museum Trust Limited is a charitable limited company. It operates a wholly owned subsidiary company, the Lyme Regis (Philpot) Museum Shop Limited, the profits of which are donated to the trust. The accounts for each entity are hereby presented independently.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s memorandum and articles of association, the Statement of Recommended Practice (SORP FRS 102 2019), and are in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006.

Lyme Regis (Philpot) Museum Trust Limited is an independent charity, registered number 1041201 and a company limited by guarantee, registered number 2855423.

Previously operated by West Dorset District Council, the trust was incorporated on 21st September 1993. It is governed by its Memorandum and Articles of Association, which were last updated in 2019.

The Museum is governed by a board of Trustees who meet quarterly. The Trust operates in line with Charity Commission guidance and regulation, and Museum Accreditation standards.

The following trustees who are also directors for the purposes of company law, served during the year and since the year end:

M Barclay (appointed 23 May 2026) J Evans (Chair) J Thomas (Deputy Chair) G Dodd (appointed 22 February 2025) W Earp J English N Gostling (appointed 22 February 2025) D Hodd R Paterson (appointed 23 May 2026) V Pitts

Lyme Regis Museum recruits new Trustees through a combination of open advertising and direct approaches. Vacancies are advertised on the Museum website and shared through relevant Museum networks and organisations, including the Association of Independent Museums, Dorset Community Network, and other local voluntary networks.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

Chair’s Introduction

In 2025, Lyme Regis Museum welcomed over 42,000 visitors and delivered a wide-ranging programme of talks, workshops, family activities and community engagement. The Fossil Walk programme attracted more than 7,000 participants, while the Fossil Festival brought over 20,000 visitors to Lyme Regis across the weekend. The Museum’s partnership with the Sedgwick Museum continued for a second year, bringing a major Mary Anning ichthyosaur specimen to the galleries alongside new temporary exhibitions, including work from the Connections programme. Learning activity also expanded through school outreach, online sessions and new handling resources, reaching over 2,770 pupils, supported by a dedicated cohort of more than 80 volunteers.

This strong operational performance contributed to a positive financial result, enabling further investment in building maintenance and in strengthening the Museum’s staff team.

Jonathan Evans Chair of Trustees

1. Introduction

Lyme Regis Museum is situated on the seafront in the heart of town, overlooking Lyme Bay and the Jurassic Coast. The Museum was founded early in the 20th century and opened with displays of geology, archaeology and local history in 1923. Today, it is a small, dynamic and community-focused organisation, with exhibitions and displays focused on the town’s rich history, geology, literature and art.

The Museum has a nationally and internationally important geology collection and is sited on the Jurassic Coast and is the location of Mary Anning’s first home and fossil shop. The Museum is famous as the home of Mary Anning, and the town also has important literary collections and links to Jane Austen, John Fowles, Beatrix Potter, and J. R. R. Tolkien among others. Its maritime and social history collections reflect the rich and significant history of the town as an important trading port, place of shipbuilding and point of departure for Europe and the Americas.

The museum was commissioned by Thomas Philpot and designed by architect George Vialls. Unusually for a town the size of Lyme, it is a purpose-built museum, given to the town in 1921 by Caroline Philpot. In 2017, a new extension was added, designed by Robert Battersby (Architecton) and opened by Sir David Attenborough.

2. Our Purpose and Public Benefit

The museum exists to promote public understanding and appreciation of the history, culture and science of Lyme Regis. It does this through the operation of the museum and the delivery of its services. This includes the conservation and care of our building and collections, the delivery of special events such as the Fossil Festival, the display of our collections and other relevant temporary exhibitions, and the delivery of our audience engagement activities such as walks, talks and guided school and group visits.

The trustees consider that the charity has complied fully with its duty in section 17 of the Charities Act 2011 to have due regard to public benefit in line with the guidance published by the Charity Commission.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

2.1 Our Vision

To inspire people through the remarkable stories of Lyme Regis.

2.2 Our Mission

2.3 Principles

The museum will be

2.4 Functions

2.5 Strategic Aims

Further to the mission and aims set out above, the Trust has set out the following strategic objectives in its business plan 2023–2027:

3. 2025 Review

2025 was a positive year for the Museum, marked by increased visitor numbers, a varied programme of events and activities, new displays and exhibitions, support for the acquisition of a major fossil collection, and further development of the education programme.

3.1 Audiences

Over the past three years, the Museum has seen an increase in visitor numbers, and 2025 was another good year, with over 42,000 visitors. This included people visiting as part of museum walks, special events, talks and wellbeing workshops.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

Visitor survey results show that many visitors attend with friends or as part of a family group. Most visitors are holidaying in the area or visiting for the day; 88% come from elsewhere in the UK, 12% mainly from Europe and the USA, and 8% describe themselves as living locally.

Around 25% of our visitors have visited before and retain their tickets to revisit.

The Museum’s Front of House staff and volunteers continue to strive to deliver an outstanding visitor experience and museum surveys and individual feedback suggests that people value the friendly and knowledgeable welcome.

3.2 Exhibitions and Displays

Our partnership with the Sedgwick Museum has continued for a second year, with a new Mary Anning fossil installed and displayed in February 2025. The impressive ichthyosaur head was found by Mary and sold to Adam Sedgwick in 1843, and is displayed with facsimile letters and an accurate model ichthyosaur sculpted by J. Taylor and R. Brennan.

Temnodontosaurus platyodon (CAMSM J68446) Collected by Mary Anning in 1843.

The Rotunda Gallery hosted a varied programme of temporary contemporary art exhibitions, including work produced through the Connections programme and new work by Exeter based author and illustrator Claire Elsom.

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

3.3 Museum Activities and Events

The Museum continues to offer a vibrant programme of talks, art and craft workshops, fossil polishing, wellbeing sessions, family holiday activities, and walks focused on town history, fossil hunting and rock pooling.

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

In 2025, the Museum further developed the Connections programme with involvement from artists, Christine Alison, James Winrow, and Sarah Acton and with funding support from Dorset Community Foundation. Delivering a new series of workshops inspired by artefacts in the Museum’s collections including artefacts from the costume and natural history collections.

The programme is designed to attract new audiences, encourage opportunities to take part in craft and art activities and help address social isolation and loneliness.

Fossil Walk Programme

The Museum’s Fossil Walk programme remains a vital and important part of the Museum’s activities and had another successful year, with over 7,000 participants taking part. In February 2025, the Museum appointed a new freelance guide, Casey Rich, who joined our Education & Engagement Officer Kieran Satchel as a main guide and Dr Paul Davis and Part-time assistant guides Lydia Graves, Chriss Legg and Lin Patterson who are also an integral part of the team.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

Fossil Walk led by Kieran Satchell

Fossil Festival

The Museum organised the Fossil Festival in June which had another very successful year, attracting over 20,000 visitors across the weekend in June. The event included talks, book signings, museum exhibitors and activities, trade marquee, performances and paleoart activities. Its organisation and delivery remain a significant commitment for Museum staff and volunteers.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

3.4 Community Engagement and Volunteering

Volunteers continue to be at the heart of everything the Museum does. The Museum is committed to connecting people with the history and heritage of Lyme and providing opportunities to volunteer across the full range of Museum activities, from supporting day-to-day operations to collections care, event delivery and fundraising.

Volunteer numbers fluctuate a little, but overall in 2025 the Museum retained a good number of volunteers and welcomed a few new volunteers to the Front of House team, the Fossil Festival and a new Museum Collections team. At the end of 2025, it had a total cohort of over 80 volunteers.

The regular Front of House volunteer team contributed over 2,582 hours of volunteering, welcoming visitors, processing admissions and gift shop sales. This dedicated support remains essential to the Museum’s dayto-day operation.

The Museum Director established a new Collections Team, recruiting volunteers to support curatorial and collection management work and to strengthen the Museum’s important behind-the-scenes activity. The team now has seven members and meets weekly to provide practical support across the collections, including:

The Museum also hosted several school work placements, Duke of Edinburgh students and undergraduates, who supported delivery of the Fossil Walk programme.

Volunteers also played a vital role as part of the Lyme Regis Fossil Festival, recruited and organised by Casey Rich in a voluntary capacity. The volunteer team is crucial enabling the Museum to organise and deliver a safe and successful Lyme Regis Fossil Festival in 2025.

3.5 Formal and Informal Learning

Lyme Regis Museum’s Learning Programme uses the Museum, its collections, the wider stories of Lyme and its internationally significant fossil beaches to educate and inspire learners of all ages.

2025 saw some new developments in the education programme, most notably visits to schools to offer workshops in instances where schools could not afford to visit the Museum.

This enabled us to engage with schools in economically deprived or under-resourced areas and those under increasing financial pressure for trips out.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

Demand from home education groups continued to increase, and the Museum adapted its services to accommodate these visits alongside the formal schools programme.

The Museum’s Education Officer has also continued to develop and offer online sessions, delivering these for schools around the country.

To support its education work, the Museum invested in a new 3D printer, enabling the

production of replica specimens that students and pupils can handle. These 3D prints have also been used in the gallery, including an ichthyosaur skeleton puzzle and a plesiosaurus skull, allowing visitors to view features that are otherwise difficult to see.

This year, we also took part in the IGGY FOR ALL PROJECT, co-ordinated by Sarah Butterworth (Emerald Ant Theatre) and funded by Arts Council England, which enabled us to work with Mountjoy School, a state special school that provides education for pupils with learning difficulties, complex needs, and profound and multiple learning difficulties (PMLD). Additional training in SEND was provided as part of the project to help our Education Officer become more confident delivering sessions for SEND school groups, and we hope this will continue to develop in the coming years.

In total, more than 2,770 pupils engaged with the Museum through its education programme.

3.6 Collections and Research

This year, the Museum Director and Geology Curator prepared and applied to Arts Council England for Designation status for the Jurassic Coast Geology Collection.

Celebrating the history and heritage of the Museum, which was established in the early 1900s, and its geology collection which was established by the Museum’s founders and early curators. The geology collection continued to grow and improve with continued donations and acquisitions over the decades, and it now includes many rare and scientifically important specimens. The impact of the discoveries made in Lyme cannot be underestimated, having had a significant influence on the birth of the science of palaeontology, our understanding of how the world was formed.

The Geology Curator has continued to focus on improving the geology collection’s documentation, encouraging new donations, and supporting new research by academics and students.

The Museum’s Director established a new Collection Team of Volunteers, who are acquiring new skills and assisting with the care, documentation and display of the museum’s collections.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

3.7 Marketing and Media Coverage

The Marketing Officer continued to produce high-quality social media and marketing materials for the Museum and the Lyme Regis Fossil Festival, helping to raise awareness and support footfall.

Selected Media Coverage 2025

Programme:

Lyme Regis Museum packed Easter programme unveiled | Midweek Herald Professor John Long to deliver talk at Lyme Regis Museum | Midweek Herald Lyme Regis Museum summer activities for all the family | Midweek Herald - Lyme Regis Museum to host half term Halloween activities | Midweek Herald

Connections Art Exhibition Lyme Regis Museum's new exhibition 'Connections' opens | Midweek Herald

Fossil Festival UK's largest fossil festival returns to Lyme Regis | Midweek Herald Lyme Regis Fossil Festival attracts thousands of visitors | Bridport and Lyme Regis News Sir David Attenborough's visits to Lyme Regis in Dorset | Bridport and Lyme Regis News

Fossil Hunting The best places to go fossil hunting in Britain

4. Financial Review

The Museum had a positive financial year, supported by strong visitor numbers and income from admission ticket sales, shop sales, walks and other Museum activities.

During the year Lyme Regis (Philpot) Museum Trust received total income of £429,981 (2024: £425,157) of which £20,648 (2024: £43,921) was restricted. Income was generated mainly through admission fees (including gift aid), fossil walks and grants and donations. The charity also receives income for management services provided to the subsidiary and Lyme Regis Fossil Festival CIC.

Total expenditure was £429,485 (2024: £379,440) of which £44,064 (2024: £64,058) was restricted. All expenditure was directly charitable.

The Balance Sheet as at 31 December 2025 showed total funds of £1,342,488 (2024: £1,341,992) of which £850,068 (2024: £877,619) was restricted. Free reserves total £392,145 (2024: £358,409).

4.1 Fundraising

Fundraising is crucial for the financial sustainability of the organisation and the delivery of Museum operations and services. Grants and donations support our core functions, including conservation, exhibition development, acquisitions and community engagement.

Significant grants this year have included the second instalment (£20,000) of a three year revenue grant from Dorset Council for the Museum’s core services and community engagement work, a grant from Lyme Regis Town Council (£6,000) for the delivery of the Lyme Regis Fossil Festival, funding from Dorset Community Foundation (£10,000) for the Connections project, and a significant award from the National Heritage Memorial Fund (£292,000) for the purchase of an important fossil collection.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

This year, Museum activity has also focused on increasing Gift Aid donations on admissions, and this has seen a 60% increase in the overall value of Gift Aid in comparison with 2024.

The Museum was further supported by a donation from its trading subsidiary, Lyme Regis (Philpot) Museum Shop Ltd.

The Museum also received donations and support from the Friends of Lyme Regis Museum for education services, the holiday programme and new acquisitions.

4.2 Retail and Commercial Activity

A review of the shop was carried out in 2025 by Lisa Looker (LRMS Independent Director), and a new 3 year forward plan was agreed with the shop board. The Museum Gift Shop has performed well, with increased turnover and new products and ranges introduced.

In addition to its own walks, the Museum acted as a ticket agent for an independent guide offering Town History and Ghost Walks, generating modest additional income for the shop.

New publicity was produced this year for our education room, and more effort has been put into promoting dry-hire events. With a modest increase in bookings, we hope this will continue to grow next year.

4.3 Reserves Policy

Trustees agreed to continue to maintain a reserves policy of designated operational reserves of £120,000 and a building maintenance reserve of £50,000. This ensures that, in the event of unexpected events or circumstances, the Museum would be able to continue to operate without income for up to a year and respond to immediate needs to repair or preserve the building.

The remaining £216,000 in general unrestricted funds is held for working capital and ongoing operation of the museum.

The Trust’s policy is in line with best practice proposed by the Charity Commission.

5. Staffing and Human Resources

5.1 Staffing

Lyme Regis Museum Trust is committed to being an equal opportunities employer. It aims to treat employees fairly and consistently, promote positive working relationships, encourage high standards of conduct and performance, provide a healthy workplace where risks are effectively managed, and offer fair rewards and conditions of employment.

The Museum seeks to ensure that all employees are paid at or above the salary levels identified by the Living Wage Foundation. As a small staff team, the Museum maintains communication through regular staff meetings and annual performance management. The Trust also uses the services of the HR Dept, specialists in human resources management and recruitment.

In 2025, the Museum made some changes to the staff structure and created a new part-time Commercial and Operations role to line manage the Front of House team and recruited two new part-time Visitor Services Managers, strengthening day-to-day operations and supporting the commercial and retail objectives of the Trust.

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

The Museum also appointed a new freelance Fossil Walk Lead Guide and two new assistant guides to support the Fossil Walk programme, allowing the Museum’s Geology Curator more time to focus on curatorial projects and collection acquisitions.

5.2 Museum Director

The Museum Director is appointed by the Board and has delegated authority, within the terms approved by trustees, for operational matters. The Director is also responsible for the proper use of grant aid from external funding bodies.

6. Governance

Lyme Regis (Philpot) Museum Trust is an independent charity (1041201) registered with the Charity Commission and is an Arts Council, England Accredited Museum and member of the Museums Association and the Association of Independent Museums.

The Museum is governed by a Board of Trustees, who are responsible for the strategic direction and governance of the charity. The Board meets quarterly and more frequently if necessary. Trustees also sit on the Trust’s three main subsidiaries: the Philpot Trust, Lyme Regis (Philpot) Museum Shop Ltd, which manages the museum’s retail and other commercial activities, and Lyme Regis Fossil Festival CIC.

6.1 Governing Document

Previously operated by West Dorset District Council, the Trust was incorporated on 21 September 1993. It is governed by its Memorandum and Articles of Association, which were amended by special resolution on 16 August 1994, 15 April 2005, 27 July 2007 and in 2020.

6.2 Trustees

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with UK law and accepted accounting practice.

Trustees are responsible for ensuring that Lyme Regis Museum is carrying out its public purpose as set out in the Articles of Association, and for complying with legislation and Charity Commission rules and regulations.

Trustees receive no payment for their support of the Trust in their role as trustees.

6.3

Sub-Committees Reporting to the Board of Trustees

The Personnel and Remuneration Sub-Committee

The Personnel Sub-Committee is chaired by the Chair of Trustees and, where appropriate, comprises trustees, staff and co-opted supporters.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

6.4 Risk Management

Lyme Regis Museum is based in a small coastal town and operates in a setting shaped by high spring and summer visitor numbers, its coastal landscape, historic collections, a distinctive building, and the environmental conditions of the Jurassic Coast.

Key risk factors:

The Museum maintains a Statement of Risk Policy and Risk Register to identify the principal risks that could affect its ability to protect collections, welcome visitors safely, deliver public benefit, maintain financial resilience, and preserve its reputation.

The policy and Risk Register informs Trustee oversight and operational planning, and is reviewed annually and more often if necessary, by Trustees.

Financial risk is managed by prudent annual budgeting, with expenditure balanced against income forecast from museum activity and grant and donation income streams.

Partnership working and ongoing dialogue with funders and supporters are also essential to ensuring that the Museum’s work is recognised and continues to attract support.

The Museum maintains a Risk Register, which is reviewed and updated annually by Trustees.

6.5 Subsidiary Trading Company

The Trust is the sole shareholder in Lyme Regis (Philpot) Museum Shop Limited and appoints its directors. The charity is also the trustee of the Philpot Collection, charity number 306241, which has no income or expenditure but holds part of its collection on display in the museum. The trading company’s directors include the Museum Director and all trustees.

6.6 Fossil Festival CIC

In 2025, the Trust set up the Fossil Festival CIC to facilitate the organisation and delivery of the annual Lyme Regis Fossil Festival. The Fossil Festival CIC is managed by a board of directors that includes two Museum Trustees, two members of staff and one independent director.

7. Future plans

The Museum follows a formal business and forward-planning process, which Trustees review, agree and update annually.

Priorities for 2026 include:

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Lyme Regis (Philpot) Museum Trust Limited Trustees’ Report For the Year Ended 31 December 2025

Statement of Trustees’ Responsibilities

The trustees (who are directors of Lyme Regis (Philpot) Museum Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (incorporating the Directors’ Report) and the financial statements in accordance with 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).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and are responsible for the maintenance and integrity of the corporate and financial information on the charity’s website.

Signed by order of the trustees on 22 August 2026

I Evans Trustee

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Lyme Regis (Philpot) Museum Trust Limited Independent Examiners’ Report to the Trustees For the Year Ended 31 December 2025

Independent examiner’s report to the trustees of Lyme Regis (Philpot) Museum Trust Limited

I report to the charity trustees on my examination of the accounts of Lyme Regis (Philpot) Museum Trust Limited (“the Company”) for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your 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 Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Albert Goodman LLP provides the charity with book-keeping services. I confirm that the necessary safeguards as required by the Directions of the Charity Commission have been implemented, and that I have applied the provisions of the Revised Ethical Standard 2016 issued by the Financial Reporting Council.

Independent examiner’s statement

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

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

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

  2. the accounts do not comply with these records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michelle Ferris BSc (Hons) FCA DChA Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX

Dated: 01 September 2026

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Lyme Regis (Philpot) Museum Trust Limited Statement of Financial Activities (including Income & Expenditure account) For the Year Ended 31 December 2025

----- Start of picture text -----
Unres- Re- Total Unres- Re- Total
Notes tricted stricted 2025 tricted stricted 2024
£ £ £ £ £ £
Income
Donations and legacies 2 53,152 18,250 71,402 81,079 43,921 125,001
Charitable activities 3 309,010 2,398 311,408 280,749 - 280,749
Investment income 2,437 - 2,437 1,118 - 1,118
Other trading activities 4 44,733 - 44,733 18,289 - 18,289
Total income 409,333 20,648 429,981 381,235 43,921 425,157
Expenditure
Charitable activities 5 385,421 44,064 429,485 315,382 64,058 379,440
Total expenditure 385,421 44,064 429,485 315,382 64,058 379,440
Net income / (expenditure)
for the year before transfers 23,912 (23,416) 496 65,854 (20,137) 45,717
Transfers 14 4,135 (4,135) - - - -
Net movement in funds 28,047 (27,551) 496 65,854 (20,137) 45,717
Reconciliation of funds
Total funds brought forward 464,373 877,619 1,341,992 398,519 897,756 1,296,275
Total funds carried forward 492,420 850,068 1,342,488 464,373 877,619 1,341,992
----- End of picture text -----

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

The statement of financial activities incorporates the income and expenditure account.

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Lyme Regis (Philpot) Museum Trust Limited – Company Registration Number: 2855423 Balance sheet As at 31 December 2025

Notes
Fixed assets
Intangible fixed assets
8
Tangible fixed assets
9
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors
Amounts falling due within one year
13
Net current assets
Net assets
Funds		 1,440
937,749
3
66,252
362,246
428,497
(25,202)		 £
939,192
403,296
1,342,488
2025		 £
2024
2,400
964,183
3
966,586
68,120
327,299
395,419
(20,013)
375,406
1,341,992
Restricted funds
14
Unrestricted funds
Designated funds
14
Unrestricted funds
14
Total charity funds		 275,967
216,453		 850,068
492,420
1,342,488		 877,619
279,967
184,406
464,373
1,341,992

These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

For the year ending 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board for issue on 22 August 2026 and signed on its behalf by:

I Evans - Trustee

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

1 Accounting policies

1.1

General information and basis of accounting

Lyme Regis (Philpot) Museum Trust Limited is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. Each member of the charity undertakes to contribute a maximum of £1 to the charity’s assets if it should be wound up while they are a member or within one year after they cease to be a member. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees Report on pages 4-16.

The financial statements have been prepared on the historical cost basis and in accordance with the 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)- (Charites SORP (FRS 102)) and the Companies Act 2006.

The charity 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 Trustees of Lyme Regis (Philpot) Museum Trust Limited have reviewed the position of the trading company, Lyme Regis (Philpot) Museum Shop Limited, and have determined that it meets the conditions necessary to be considered a subsidiary of the Charity, however, the charity is part of a small group and the charity has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and the Charities Act 2011 and has not prepared group accounts.

1.2

Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included as it is impractical to measure it reliably.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Legacy income is recognised when receipt is probable and entitlement is established.

Income from investments is included in the year in which it is receivable.

Income from admission is included in the year in which the right of admission is granted.

1.4

Expenditure

Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

As the charity’s is below the large charity threshold, it has chosen to report its charitable expenditure based upon the nature of the expenditure rather than on an activity basis, as this is deemed to be more useful to charity stakeholders.

1.5

Intangible assets

Intangible fixed assets are stated at cost less accumulated amortisation. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful life of that asset as follows:

Website

– 33.3% straight line

1.6 Fixed assets

Tangible fixed assets are valued at cost less depreciation.

Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate:-

Land and buildings – 2% reducing balance Fixtures, fittings & equipment – 15% reducing balance

1.7 Heritage assets

The charity has previously held a number of heritage assets, which included items of local cultural significance and ancient fossil specimens collected from the Jurassic coast (designated as a World Heritage Site). These were transferred to The Philpot Collection (Charity Number: 306241) in 2021 after seeking permission via an Order of the Charity Commission.

1.8 Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

1.9 Debtors

Other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.

1.10 Cash at bank and in hand

Cash at bank and in hand compromise cash on hand and call deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

1.11 Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will 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 recognised at their settlement amount.

1.12 Taxation

The company is a registered charity and is therefore not liable to corporation tax to the extent that income and gains are applied for charitable purposes.

1.13 Defined contribution pension schemes

The pension costs charged in the financial statements represent the contribution payable by the charity during the year.

1.14 Fund accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and which the charity may use in the pursuance of its objects at its discretion.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds (although the charity does not currently have any endowment funds).

1.15 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

2 Donations and legacies

Donations and legacies
Donations
Dorset Council grant*
Donation from subsidiary
Other grants		 £
12,632
20,000
20,520
-

Unres-
tricted		 £
£
£
250

12,882
33,416
-
20,000
20,000
-
20,520
27,663
18,000
18,000
-

18,250
71,402
81,079
Unres-
tricted
Res-
tricted
Total 2025		 £
5,371
-
-

38,550
Res-
tricted		 £
38,788
20,000
27,663
38,550
125,001
Total 2024
53,152
 43,921

* Denotes government grants

Income from government grants comprises grants made by local authorities to fund the principal activities and objectives of the charity via core funding and funding for specific projects. See above for more information, including the amount and source of these grants. There are no unfulfilled conditions or other contingencies attached to these grants.

3 Charitable activities

Admission fees
Fossil walks
Museum & gallery exhibition tax relief
Gift aid on admissions
Room hire and sundry income
Other trading activities
Rent paid by subsidiary
Management charges receiveable:
Subsidiary
Lyme Regis Fossil Festival CIC		 £
197,788
76,585
-
33,391
1,246
Unres-
tricted		 £
-
-
-
-
2,398
Res-
tricted		 £
197,788
76,585
-
33,391
3,644
Total 2025		 £
189,997
70,735
3,106
13,883
3,027
Unres-
tricted		 £
-
-
-
-
-
-
Res-
tricted
£
-
-
-
-
Res-
tricted		 £
189,997
70,735
3,106
13,883
3,027
Total 2024
309,010 2,398 311,408 280,749 280,749
£
6,300
19,020
19,413
Unres-
tricted		 £
-
-
-
Res-
tricted		 £
6,300
19,020
19,413
Total 2025		 £
6,200
9,441
2,648
Unres-
tricted		 £
6,200
9,441
2,648
Total 2024
44,733 - 44,733 18,289 18,289

4 Other trading activities

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

5 Direct charitable expenditure

----- Start of picture text -----
Unres- Res- Unres- Res-
tricted tricted Total 2025 tricted tricted Total 2024
£ £ £ £ £ £
Advertising and marketing 8,016 - 8,016 6,468 667 7,135
Display, conservation and
exhibition costs 4,510 - 4,510 2,284 - 2,284
Educational events and activities 20,411 12,000 32,411 (1,624) 33,175 31,551
Research - - - 51 - 51
Wages 191,463 5,865 197,328 193,619 3,000 196,619
Pension costs 3,819 - 3,819 6,914 - 6,914
Staff training 1,876 - 1,876 1,702 200 1,902
- -
Staff travel expenses 1,275 1,275 2,456 2,456
Establishment costs 69,156 2,648 71,804 47,497 - 47,497
- -
Bank charges 9,039 9,039 7,021 7,021
Other interest 12 - 12 - - -
Admin and IT costs 16,173 - 16,173 20,273 - 20,273
- -
Legal and professional 1,440 1,440 1,905 1,905
- -
Accountancy fees 23,106 23,106 11,779 11,779
- -
Hospitality and other sundry costs 4,658 4,658 4,190 4,190
Depreciation and amortisation 11,053 23,551 34,604 10,846 27,016 37,862
Donation in kind 19,413 - 19,413 - - -
385,421 44,064 429,485 315,382 64,058 379,440
----- End of picture text -----

6 Wages and salaries

Wages and salaries
Social security costs
Pension		 2025
2024
£
£
188,096
175,431
9,232
21,188
3,819
6,914
201,147
203,533

No individual employee was paid over £60,000 (2024: none).

The key management personnel of the charity is considered to be the chief executive. The total costs to the charity of employee benefits for the key management personnel were £50,226 (2024: £46,559).

The average number of employees for the year was as follows: 2025 2024
Number of staff 11
11
‗‗‗‗‗‗‗ ‗‗‗‗‗‗‗

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

7 Net incoming resources before transfers

7
Net incoming resources before transfers
This is stated after charging:
Depreciation
Independent examiners remuneration: - independent examinaton
- accountancy and examination fee		 2025
£
34,604
2,000
21,106		 2024
£
37,863
2,000
9,779

8 Intangible assets

Cost
At 1 January 2025
At 31 December 2025
Depreciation
At 1 January 2025
Charge for year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Website
£
11,580
11,580
9,180
960
10,140
1,440
2,400		 Total
£
11,580
11,580
9,180
960
10,140
1,440
2,400

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

9 Tangible assets

Cost
At 1 January 2025
Additions
At 31 December 2025
Depreciation
At 1 January 2025
Charge for year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
Fixtures,
land and
fittings &
buildings
equipment
Total
£
£
£
1,045,667
289,246
1,334,913
-
7,210
7,210
1,045,667
296,456
1,342,123
183,766
186,964
370,730
17,238
16,406
33,644
201,004
203,370
404,374
844,663
93,086
937,749
861,901
102,282
964,183

10 Heritage assets

In 2021, Lyme Regis (Philpot) Museum Trust Limited obtained consent from the Charity Commission to transfer heritage assets with a historical cost of £41,000 to The Philpot Collection. Lyme Regis (Philpot) Museum Trust Limited does not own any heritage assets itself. However, collections on display include items of local cultural significance and ancient fossil specimens collected from the Jurassic coast (designated as a World Heritage Site). These items are under legal ownership of The Philpot Collection (charity registered in England and Wales number 206241), which allows the museum to display the collection under a memorandum of understanding between the two organisations.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

11 Investment
Shares in subsidary undertakings		 2025
2024
£
£
3
3
3
3

The charity controls the company listed below by virtue of holding a controlling interest in the equity share capital. During the year the trading subsidiary paid commercial rent of £6,300 to the charity (2024: £6,275). In addition, the trading subsidiary donated its profits of £20,520 (2024: £27,663) under the terms of a Deed of Covenant. The deed constitutes a legally binding obligation. Therefore, the donation to the charity is recognised in the same year that the profits have been made. The summarised results of the trading subsidiary are given below:

Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Profit for the financial year
Retained earnings brought forward
Donated to Lyme Regis (Philpot) Museum Trust
Retained earnings carried forward
The aggregate of the assets, liabilities, capital, and reserves was:
Assets
Liabilities
Capital and reserves		 2025
2024
£
£
147,429
137,330
(93,865)
(83,902)
53,564
53,428
(33,044)
(25,765)
20,520
27,663
20,520
27,663
3
3
(20,520)
(27,663)
3
3
40,708
48,562
(40,705)
(48,559)
3
3

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

----- Start of picture text -----
12 Debtors 2025 2024
£ £
Trade debtors 970 5,263
Amounts due from subsidiary undertakings 35,043 40,150
Other debtors and prepayments 20,030 13,043
Gift Aid refund 6,760 6,558
Museum and galleries exhibition tax relief 3,106 3,106
Owed by Lyme Reis Fossil Festival CIC 342 -
66,252 68,120
13 Creditors- amounts due in less that one year
2025 2024
£ £
Trade creditors 3,242 2,709
Accruals and deferred income 18,559 11,225
VAT payable 3,229 5,323
Other creditors 171 -
Owed to Lyme Reis Fossil Festival CIC - 756
25,202 20,013
Deferred income
2025 2024
£ £
- -
Deferred income at 1 January 2025
- -
Released from previous years
-
Resources deferred in the year 2,011
Deferred income at 31 December 2025 2,011 -
----- End of picture text -----

Income has been deferred in relation to school visit income received in advance of the visit date.

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

14 Statement of Funds

Balance
01.01.2025
£
Restricted funds
Education, Activities and Events
4,000
860,619
-
The Mason Family - bench
-
The Friends of Lyme Regis Museu
-
Natural History Museum - DiSSCo
-
Crispin Tickell legacy
13,000
Total restricted funds
877,619
Unrestricted funds
General
184,406
Designated - Fixed asset
105,967
Designated - Operational asset
and repair reserve
20,000
Designated - Galley maintenance
4,000
Designated - Operational reserve
150,000
Total unrestricted funds
464,373
Total funds
1,341,992
Relocation grant
Museum Extension Appeal		 Income
£
-

-

2,398
250
8,000
10,000
-
20,648
409,333
-
-
-
-
409,333
429,981		 Expend-
iture
£
(4,000)
(23,551)
(2,398)
(250)
(8,000)
(5,865)
-
(44,064)
(385,421)
-
-
-
-
(385,421)
(429,485)		 Transfers
£
-
-
-
-
-
(4,135)
-
(4,135)
8,135
-
30,000
(4,000)
(30,000)
4,135
-		 Balance
31.12.2025
£
-
837,068
-
-
-
-
13,000
850,068
216,453
105,967
50,000
-
120,000
492,420
1,342,488

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

Statement of Funds - prior year

Restricted funds
Education, Activities and Events
Conservation and Acquisitions
The Mason Family - bench
Mary Anning Rocks
Crispin Tickell legacy
Total restricted funds
Unrestricted funds
General
Designated - Fixed asset
Designated - Operational asset
and repair reserve
Designated - Galley maintenance
Designated - Operational reserve
Total unrestricted funds
Total funds
Museum Extension Appeal		 Balance
01.01.2024
£
7,985
2,136
887,635
-
-
-
897,756
120,599
103,920
20,000
4,000
150,000
398,519
1,296,275		 Income
£
22,550
8,000
-
250
121
13,000
43,921
381,235
-
-
-
-
381,235
425,156		 Expend-
iture
£
(26,535)
(10,136)
(27,016)
(250)
(121)
-
(64,058)
(315,382)
-
-
-
-
(315,382)
(379,440)		 Balance
Transfers
31.12.2024
£
£
-
4,000
-
-
-
860,619
-
-
-
-
-
13,000
(5,279)
877,619
(2,047)
184,406
2,047
105,967
-
20,000
-
4,000
-
150,000
-
464,373
(5,279)
1,341,992

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

15 Analysis of net assets between funds

Intangible assets
Tangible assets
Investments
Net current assets		 £
1,440
98,834
3
392,142
Unres-
tricted		 £
-
838,915
-
11,153
Res-
tricted		 £
1,440
937,749
3
403,296
Total 2025		 £
2,400
103,564
3
358,406
Unres-
tricted		 £
£
-
2,400
860,619
964,183
-
3
17,000
375,406
877,619
1,341,992
Total 2024
Res-
tricted
492,419 850,068 1,342,488 464,373

16 Related party transactions

During the year Lyme Regis (Philpot) Museum Shop Limited, a 100% owned subsidiary of Lyme Regis (Philpot) Museum Trust Limited donated a total of £20,520 unrestricted (2024: £27,663 unrestricted) to Lyme Regis (Philpot) Museum Trust Limited.

Administration and managerial time of £19,020 (2024: £9,441) were recharged in relation to delivering fossil walks. The shop has also paid a commercial rent of £6,300 in the year (net of VAT) to the Trust (2024: £6,200).

Prepared By Albert Goodman LLP

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Lyme Regis (Philpot) Museum Trust Limited Notes to the Financial Statements For the Year Ended 31 December 2025

17 Charges and security

The trustees of the National Heritage Memorial Fund have a registered legal charge in the form of a negative pledge secured against the freehold property of Lyme Regis (Philpot) Museum Trust Limited. This charge relates to the Mary Anning Wing Project and will be satisfied in 2040, being the 20-year anniversary of the completion of the project.

18 Company limited by guarantee

The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on the winding up of the company. At 31 December 2025 the company had eight members and the total amount guaranteed was therefore £8.

Prepared By Albert Goodman LLP

33