THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR EINDED 31 OCTOBER 2024 Company number: 3270753 Cliarit number 1063528 Page I THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Charit number 1063528 CONTENTS Page Council ofmanagemenl's report Accounlanls rLPOrt SIuiLlhL'nl ol- liiiancial aclivilies 10 Bolance Sheei Statement ol'cash Flow 13 Notes lo the acLount5 Page 2 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Conipaiiy number: 3270753 Charit number 1063528 ADMINISTRATIVE INFORMATION Trustees of the ChArity Trustees Director5 serving as Council of MRnAgement during the yewr Mi's J E Arihur J Iliirlc)Iv ThL IILVLfL'nd Canoii A N Baniui'd M i%q l) Ci Illak'¢'_Ilc)l)Lrls Mi's M (J 11(iylL II'LIii'Ld 20 JiinL 20241 11 W Ili'iiivn Mr.% M.1.. 13udgTrLn Di. N A Cain bi'idg Dll S l) Cliaplin Drprrara S Flai'ris D.J. Kershuw Dr C M L()ckwood Page 3 THE ERAsrvtUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Charit number 1063528 ADMINISTRATIVE INFORMA TION Seeretllry N c faunch Charity number 1063528 CoJni)aiiy nuinber 3270753 Prii)cipAI A in l.iLhl ield ivl)iil) Ivas his 'I'hL p()IiiiLS adopiLd in ILlrth¢rJii¢c ol'ihLsc objcLiS arL% to mainlJin il 51rul¥gy ol. markLliiib) and pi'omulion ol. the charily's prem ises aiid c()ntL'nls and IhLrL has bLLn no changc in Ih¢se policies during the year. Th¢ Iruslccs confimi they have ref¢rrcd lo Ihc guidancL conlaii)cd in Il)¢ Charity Commission's gLnLral guidancL oil public benLlIl whLn rL'viewing Ihc I'"oundalion's uims and objLLIIvLS and in planning lulure cliviliLS. Aclilevements &nd i)erformAn¢e During the year the Charity continued lo develop (he aclivities of Ernsmus Darwin House. *iIIAIICiAI review Alihiiiiuli (IILI'L iva.s ali Illll'LaSL iii inL()I))L li)r tIiL' yL'al' thi Cliill'il>' LNPLI'iLnLLd an unLXPLeied increase in utilily diid o(l)Ll' ruiiniiig L05ls. 'I'lILrL %VUS u dLI iLi( l(Trr ihL yi4ir ()1-£12,780. Princi )Ml fundin urccs Aside from (he income generated by donors. visilors and users of Ihe House the principal funding sources continue lo be Lichfield Cily Council and other granl providers. l)age 6 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Chari nun)ber 1063528 Investiiieiil olic Although IliL Chai'ily I'L'laiiis a pi'udenl aiiicTruiil in res¢rves eaLh >'Laf. Inos1 ol'ihe chai'il) s lund5 Jir lo be -SPLiiI iii (lie sh()I'l IL'I-iii so tliei'e are leii, luiids lor long ILI'ln il)VL'StmLlII. Reserve5 Jolic It is Il)e poliLy ol'ihL charity thai unrestriLled liquid lunds should bL' mait)thined al a level Cquivalenl lo lour monih's expendilure. The trustees Lonsid¢r that reserves al this level will ensure Ihal, in th¢ evenl ol'a signilicani drop in lunding, they iyill he ahle lo conlinuc Ihe charily's current aclivili¢5 while consideration is given to ways in wliich uddilional lunds may bc rai￿.d. PIAns for future eriod5 'rh¢ Council plans coniinuing the aclivilies ouilined above in forth¢oming years subjecl lo salisfaciory funding arrang¢m¢nls. Nc)i)L ()I'ihL' mLmbers ol. thc Council of Manageiiicnl h&s any benLfieial int¢r¢sl in Ihe company. All ol'ih¢ i))¢i)Ih¥i'% (Il'ihL Ci)uiiLi l ()I' MaiiugiLIi)Lni ar¢ iiiLiiihLI'% i)l- Il)L c()11)Pilliy ¢ind giiui'anlLe l() L(Iniribiili £ l iii IhL L'VLIII ()I' a %vindin&J up. Page 7 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANACEMEKf's REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 CompAny number.. 3270753 Chari number 1063528 REPORT OF THE COUNCIL OF MANAGEMENT Responslbllltles of the MRnAgement Commltlet Compani, loiv requir¢s ihe Council ol'Manug¢mcni io preporc linonclal siaicments foreach finan¢ial year which give o irue and loir view ofih¢ SlDle ol'oiftsirs ofihe ¢huriiobl¢ compony a5 ai ihe balance sh¢¢i dai¢ and of its incoming resources and application of re50ur¢¢s, includin8 income ond expendilure for the rinanciol year. In preparln8 ihos¢ finonti81 sioi¢meni4 ihe Council ofMan&Bemenl should follow besi praciice ond: Jeled syliubl¢ ac¢ounilnR pollcles Ihen Bpply ihem consislenily make judgements and es¢imlli¢s lh￿ re￿nable and prndeni; prepar¢ the financlal sia*mert15 on Ihe ¢oinR ¢on¢¢rn basis unless li Is Inappropri￿e ￿ prolume ihai lh¢ Churity wlll con¢lnui on ihat 1431& The CounLII ol'Mona&em¢ni is responsiblL foi. moinlainlng pmp¢r nLcounilng r¢¢ords ivhi¢h dls¢losc wlih rL'a50nable QLcufllLy ul any lirne Illl finonciul posilion of lh& charliahle company and enablc li In ¢nsur¢ ihal IhL finoiiciul 51QILni¥iiis eoinply lviih IliL Coniponiis Act 201M.'rhL C()uiicil ol'Muna¥LinLni Is 01.80 ponsible lor sDfeAuurdin8 ihe Bssci8 ol. IhL cl)arilabl¢ con)pany und hYncL for iakin8 reasonable sl¢p.$ for lh¢ ptYi'Lntion und deieclion or rrtsuii und oihLr itre8uloriiie& Memb¢rs ofih¢ Coun¢ll of Muna8¢menl, who ar¢ dlrKioTS for the purpose of compony liw, and irusk for ihe purpose Of¢h￿01Y law, who ￿t￿ed durln8 Ihe yeBr and up lo tho dale of Ihls report ar¢ set out on page 3, Approv￿ by (he Councll of Mun88emeni on and 3lRn¢d on iLs behllifby: DrN A Combridlle Chairma Daied: 6 JunL 2025 P48e 8 THE ERASMUS DARWIN FOUIYDATION COUNCIL OF MANAGEMENT'S REI)OIIT ANI) ACCOUNTS foR THE YEAR ENDED 31 OCTOIJF.R 2024 Company number: 3270753 Chari number 1063528 ACCOLfNTANTS REPORT TO THE COUNCIL or MANAGEMENT ON THE UNAUDITED ACCOUNTS OF THE ERASMUS DARWIN FOUNDATION Iii order io assi51 you io fulfil your duii¢$ under ihe Coi)Ipgnies Aci ?006. iiie Iiuv¢ pr¢pllred for }our opproval Ihe riiiai)¢ial Sllliiiiienls 01. I'lie frusmiis Danvin foundi1LlllI) r(Fi' Ilie vear Lndtyd 31 Ocioh¢r 2024, sei oul on pogcs l O li is your duly Io L115ULf 111o1'1'he lyosinus tjuriiin l.'oiiiid411ii)ii Iiiis kcpi odLxiualL acitMiI)Iii)8 records ond i() prepare siuiulory linanciul sithi¢i)ILI)(s Iliul bJiVL U truc llnd laii. viLiv ol. IIIL a&s¢lS. liabiliii¥s. liiianci41 posiiion ond piDlii or 'I'hL Ernsmus D&nvin I".ounduiion. You consider ihuL Ihl Conipan), 15 ¢.x¢ii)pl from ihe siDlulOry requiiLmenl for an audii for ihe year. W¢ hove noi been insiruaed io oui on audlt or o revlew of ihe finonciul swiements of Th¢ Erll5mu$ D•nvin Foundalion. For ihls reoson, iyc hove noi verined ihc u¢¢uracY or compl¢leness of the a￿UntIn1 r¢¢onls or infomiAiion ond expl￿all0n$ you hfjve 8lven io us ive do n￿, Ihercfor¢, expreu ony oplnlon on ih¢ ￿81u10ry fln&n¢lDI staiements. Wynni811-Husey Lin)IlLd Chprtered Accouninn15 8 Bore Sireei Lichfield Siutfordshir¢ WS13 6LL Dnied: 6 Jun¢ 2025 Page 9 THE ERASIIWS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Conipany number: 3270753 Charit number 1063528 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) roi. IhL yLar ended 31 Oclobei. 2024 2024 2024 2024 2023 Noie5 Unresli'i¢i¥d luiid5 Reslricled lund5 (note 151 51,125 Total funds T()ial IIL(IniL l)()i)aiioiis and g?r411i1s 29.571 48,28X 5,358 O,C)()(} 48,21111 44.234 47,204 709 Total Ineomlng resources 83,217 51,125 134J42 92,147 endilur Cosis ol. gLneraling volunlury inioiii¢ 11,887 11,887 12,366 Direct ¢haritable exp¢ndilure 13,061 7,559 20,620 26,591 rundi'aisingy LOSI.8 120 120 308 Manr¥ mLLls IhL d¢linilivn ol. a charithblL company lor UK corpoi'alion lax puiposes. l Going concern The financiiil slntemcnt8 have been preparcd un a going concern basis as Ihe trustees bel ieve Ihal i)0 material unLcriainlies cxisl. I'lic Iruslcc5 have consid¢red ilie level of fiinds held and Ihe expccted level of incomc and ¢xpenditurL' for 12 monil)s froin the auihorizalion of Ihese lin¢incial si￿(¢ML￿t5. 'fhe Iruslces Consider Ihai thcre is a reasonable expectation Ihai Ihc Cliariiy has adequale resource5 to coiitinuc in operalioiial CXiSl¢nce lor the foresLeable future. l-he Charily therefore continue5 lo operate (he going concerii basis in preparing 115 Iinancial %lalLmenls. 1.12 Judgeiiients and key 50urees of estimthtion iincertAlnty I'l)L'i'e h (IVL. bLL'lI n(Tr.judgeineiiis (Iipai'l Ironi ili()SL' involvii)g e51ii)IiilLS) Inade iii Ihe process or applyingTr ihL' abuve UCLQUI)ting poli¢iL5 Ihu( have had a sigi)iti¢anl effecl oli amounis rLcoL>nizeil in thc linancial staleiiien(s. There are no key assumptions concerning the future and other key sources of estimation un¢crlainty at Ihe reporting dale Ihat liave a sigiiificant risk of causing a material adjustmenl Page 17 THE ERASIWUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Con)pany number: 3270753 chai.it number 1063528 l(} IhL Lrfirry ing iimounls of assets aiid li¢ibililies wiihin ihe iiexi financial year. 1.13 Museuni exhibits The Charity's exhibits arise from two main sources: those acquired Irom Ihe Dcan & Chapter, and the Surgery and Invention Room exhibits acquired wiih Ihe help of grdnls. The exhibits are considered by the Twslees lo be fair recognition of the work of Erasmus Darwin, and it is the Museum's gLn¢'ral policy noi lo add lo or dispose of exhibi15, unl¢s5 to do so had (he ellecl ofenhancing IIIL, iiilegji'jlill {)l-IhL C()IILLlion. l.or Iliis rL&s()n Iliere l)ave bLLn no additions or disp05als sincL 2015. Cc)IIL¢lii)iis munug¢niLI)I 'I'IIL Irusl¢LS' PI'llll(Ily ()bjeLliv¢ is 10 %alibuai'd and develop Il)e exhihils so thai ihLy can bc made as iILLis8iblL 114 P(15%ihlL. -I'liis i)hjLclivL 1.5 dLI iv¢'i'L'd ilii'()ugh pr(Ig?runiinLS ol'displays, eveni8, publiLalions, WLh%ilL%, li¥ldivc)rk, I'LSLur¥h. du¢uii)LniJlion and coll¢¢li()n5 cufL'. ()bjucls Ironi IhL ¢olleLliun cali bc eiiliLI' displayed in the InusL'um and on our web8ilL', or madc availahle via Io(Ins 10 third P4irliLS. Storage and Care 'l-hc collL'clion 18 displayed and sto￿d according lo recognised iniernalional st4ndards for Ihe prevention of n)ai¢rial dLlcri()ralion. Library and archivL storage fucilili¢s and exhibiiions llr¢ based upon and informed by Ihe Irquiremen15 or 11% 5454 and 'l"h¢ NAtionul ArchivLs Siandard lor RLcord Ilcposilories. l)()LumLI)talion l..Il)ihii% arL' di?LillllLnied in acLf)I'dJiiLL Iviih Arts Ci)unLiI I ngland rL4UII'LIIILnis and %l)l-,C'l'RIJM. 'I'IIL M(1SLuin h&5 SLLUI'¢ lille lo all nhjLLls in Ihe exhibils ¢ollLLtion, liold5 basic dala on evLry objeLI so Ihal il Lan bL IIIIILIULIY idLiili IILd and IhL LoIILclion audilLd rl'gularly, and ensufLS records I'elaling lo obje¢15 in IIIL LoIILIIioii JI'L LiII)iinLed and made uv#il(Ible lo audiei)Les i%'hL're appropriuie. InLIu5ion ol'ihL exhibi15 in the Balance Sheel 'rhe collection5 are included in th¢ balance sheei al original cost less deprerialion. No aitempl h&8 been made to re-slate the exhibiiions al valuation as il is considered thal this would be a lime-¢onsuming and subjective exercise wilh little commercial advantage. Page 18 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number.. 3270753 Chari number 1063528 NOTES FORMING PARTOF THE FINANCIAL STATEMENTS. 2024 2024 2024 2023 UnrL'51riLILd Fuiids IILSlriclLd Toial Toial 2 Income from Donatlon¥ 4nd legaeies Grants Local Auiliorilies Donulions 2,174 1,000 26,J97 2,174 1,000 77,522 80,696 12,617 1,500 -30,117 44,2J4 51,125 Inconie froni Clinritable Actlvilies Iliii)k% b)LiidL% und %i)UVLIIII'% Lui)Ii'(ILi l¢'llinLJs aiid iVLildings ()IhLr inLoii)e Cvenis and calering 25,()(}11 (),1124 8,167 685 7,722 48,288 25,C)l)O 6,024 8,167 685 7,722 48,288 21,992 4,0()0 1,20() 480 9.46J 47,204 I ijvestment iiieome IniLI'c51 rL'L¢ivuble RLI)I rLLL'ivLd 983 4,375 SJ58 983 4,375 5J58 709 709 Page 19 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Charit number 1063S28 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. TolAI resources exi)eiide(I 2024 202.1 Unresli'icled unds IIL%lI-iclLd lunds Tolul Cosis ol. GLn¢raling Voluntary Income Salarics 11.887 11.887 12.366 DirL'cl Charilable ExpLndilurL Dii'eci ¢osls ol'sale Ilepairy and mainlenancc 5,857 5,228 796 2,556 4,840 8,413 10,068 796 8,879 15,C)62 7(17 1,.34.1 13,061 20,620 rundruising L(1515 Adverii5ing 120 120 308 Page 20 THE ERASIIIUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company nuniber: 3270753 Cliarit nuinbei" 1063528 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. TotNI resources expended 2024 Un￿tricted 2023 Il¢slricied funds Total Toial Management and Adminislraiion Siilai'iLS 23,775 507 23,775 507 )ri)jLLI M¢inag¢'iiiLIII 20.461 397 C),365 25,850 713 13,361 5,491 Iliilcs -lea1, lighi 4111d water l>vslag¢ Sialionery und I'r 'relepl)onL Buiik cliarges Subscriptions Insurdnce Prolessional fees 27.501 417 7,988 2,132 1.903 329 1,786 4,591 27,501 417 7,988 2,132 1,903 329 1.786 4,591 312 215 4,154 5,716 85.146 70,929 70,929 7 Council of MAllAEenient NI)IlL ()[' IhL Couiilil ol. MunugLniLIii loi. ui)y pLr%()ns LonnLLlcd with Ih¢m I rLLLived uny reinLlli¢I'alion dui'ing (FIL pLriod. l)age 21 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 nuiiiber 1063.528 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. 8 Staff eosts and numbers Nuniher of cmployees Th¢ aver¢ige monthly number of employees during the period w￿. 2024 Number 2023 Number Managemcnl Adi)iini.8lralioi) aiid suppni'l AnRlysis of net Assets between funds Unreslricled Reslricied 'roial '] anLyible Iixcd assels Cui'rLnl &5sels Current liabiliii¢s Ncl a5SLlS al 31 October 2024 984 53,127 (51,342) 2,769 163 55,491 1544) 55.110 1,147 108,618 {51,1186) S7079 Page 22 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Charil number 1063528 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. 10 Tmiigible fixed Assets Fixtures, tilling5 & equipment 2024 Cost Ai l Nuvciiiber 2023 At 31 October 2024 228,248 228,248 DeprL¢ialion Al l Nciv¢ni bLI' 2023 ChJi'L?L l(Ii' IIIL, PVI'I()d Ai J l ()Lli)her 2024 225,758 1,343 227,101 Nel book valuL AI J I OLlober 2024 1,147 Ai 31 October 2023 2,490 I l Debtors 2024 2023 TradeW)Ii)rs QIliLI' dLhii?r. 3,080 2,()34 .$,714 1.165 2.5112 3,C167 PagL 23 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Coinpany nuniber: 3270753 Charit number 1063528 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. Note 2024 2023 12 Creditors: amounts falling due withln one yeAr OIliLI' Lll'diloi's L,oaii Ii'()m l.ILlilield Cailiedral pi'trviously ivrilleii olT 3,156 48,730 .$1,886 2.81)1 411,7.30 51,-S91 13 Reconclllation of net Ineome to net cash flow from operatlng actlvltles 2024 2023 Nel surplu5 Inici'Ls1 rL'ccived DLprcciaiion and impairmeni of langible fixed assets IDecreuse in slock) I In¢iL'U.%L'YdLcfLiJ5L in debtors InLI'LUSL ill Ll'Ldil()1'5 NL41 Lus111(ILill/iii Ili)Iv Ii'om i)PLI'aling a¢liviliLs 30.786 (983) 1.343 800 (2,047) 21)5 30,194 (32,264) 17091 1.343 9,529 2,-IX7 {19,714) 14 Rel#¢e(I i)Arties There al'e no I'elated party Iransaclions. Page 24 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Comi)any number: 3270753 Cliarit 1063528 NOTES FORMING PART OF THE FINANCIAL STATEMENTS. 15 Aunlysis of niovem¢nls in restrieted funds Balance 1.11.2023 Incom¢ Kxpenditure Balanee 31.10.2024 Young Rooi81)roject SurgLry relurbishiiieni Art l)rojecl AILIi¥vsly rL'pair (Jai'd¥17 und ii) IL'P41y l.iLI)I iild L'aillL￿ral %iaii'La%L I'Llui'bi.shii)¥nl FduLdlll)11 Curilii)I'ial eyuipin¢nl 1.695 325 479 4,500 ,1141) {1,695) {163) (4791 14,500) 1613) 162 C)25 511.1100 ,OC) I 511.niio ,C)91) I,xoo 391 5.S,110 1,691) 1.800 500 1109) 17,-$59) 11,544 Bnlnnce Income Expendlture BAIMiice .11.2022 31.10.2023 Young Ilools Project SurgLry refurbishment Ai1 1)r(Ij¥LI r¥liivdy I'Lpair (141riiL'II 9,439 4118 479 5,150 (12.894) (163) 1,695 325 479 4.5all ,114() 4..$00 1,553 4,70U 3,350 5,719 25,728 {2,on41 1.I,11041 {1,5501 16,61)01 (26,305) l.-duLiiliuii I,N(M) 971 12.121 1,.fj44 16 Lease Operating l¢ase- lessee 'rotal m inimum lea5¢ payments under nort - can¢ellable opernting lea5¢5 are as follows.. 2024 Wiiliiii oiiL )'Ldl' 9,n76 l)ag¢ 25 THE ERASMUS DARWIN FOUNDATION COUNCIL OF MANAGEMENT'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Company number: 3270753 Cliarit number 1063528 17 Loan froni Lichfield Catheilral 'I'hc fouiidalioii liad pi'eviuusly agi'LLd 14 ith Liclilield C(Iihedral that aiiy sum could be paid loivai'ds Ihe rL'payiii¢iil ()I'J loan o1-£48,730 Iri)In the CaihLdi'al il-ever sui'plus Iliiids ivei'e (o bccc)i))¥ available to the Found