TRUSTEES, ANNUAL
REPORT & ACCOUNTS
2023- 2024
THE WALSALL MUSEUMS AND
ART GALLERIES DEVELOPMENT TRUST
CHARITY REGISTRATION NUMBER 1064056

The Walsall Museums and Art Galleries Development Trust exists to support cultural
development within the Metropolitan Borough of Walsall. Through a unique partnership
with Walsall Council, the Trust has committed itself to generating additional funds to
support artistlc programming at The New Art Gallery Walsall {TNAGW). The Gallery has
been open since February 2000.
The Trust is constituted as a registered charity and Is govemed by a Deed of Trust.
Walsall MBC provides operational support and the conditions of this asSiStsn￿ are
outlined in a specrfic working agreement befvleen the Trust and the Council. The following
Trustees, Annual Accounts covers the financial year from the 161 April 2023 to 31st March
2024.
The Walsall Museums and Art Galleries Development TfU5t
(Charity Registration Number 1064056)
Rog5stered Office:
The New Art Gallery Walsall
Gallery Square
Walsall
West Midlands
WS2 SLG
Bankers
HSBC pic, The Bridge, Walsall, WS1 1LN

STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Trustees, Annual Report and the financial
statements in aco)rdance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
The law applicable to charlties in England & Wales 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 charity and of the incoming resources ar+d application of resources of the
charity for thal period. In preparing these financial ststements, the trustees are required
to:
select suitable accounting policies and then apply th6m consistently:
obseNe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent.,
stale whether applicable accounting standards have been followed, subject to
any material departures disclosed and explained in the financial statements.
prepare the financial staternenls on the going concern basis unless it is
inappropriate to presume that the charity will conkn.nue in operation.
The trustees are responsible for keeping proper accountlng records that disclose with
reasonable accuracy at any tim& the financlal position of the charity and enable them to
ensure that lh8 financial statements ￿mplY with the Charities Act 2011, the Charity
(Accounts and R8POrts) Regulations 2008 and the provisions of the trust deed. Th6y are
also responsible for s8feguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularitles.
Approved by Trustees on .
13 r4 ft/oKc 4 oo..F............Date & Signed on their behalf by
&ry
.TnJstee (Olane Pery , Chair)
Trustees 2023124
Diane Perry (Chair)
David Cap4er (VIC6 Chair)
David Owen
Allson Bond (Retired 19th September 2023)
Councillor Matthew Follows

Dr. Zeeta Badhan
Rebecca Thompson
Faye Lorente Shyllon
Kathy Dowling
Trust Secretary: Position Vacant.
Investment Pollc
Any monies received by the Trust, and nol for immediate use, are invested in order to
generate interest for the Trusl. The investrnenls are Managed by Brewin Dolphin Limited
Register8d offic4 12 Smilhfield Street London EC1A 9BD (Financial Services Register
referenc8 124444) . The Tnjst has decided as part of ts investment strategy to require its
investments to be made in 8 socially responsible rnanner and consequently shall exclude
investments in armaments, tobac￿, pomography and alcohol. The Trust holds sorne
funds in liquid fomi to allow for any unexpected funding requests from The New Art
Gallery Walsall.
Assessment of Risks to which the Charfty is oxposed.
The Truslees regularly review any uncertainties and threats thal have the potential to
inhlbit the Tfusvs perfomance. Necessary action 15 taken in order to minimize the
potential adverse impact of any risk materializing.
Reserves Policy
The Unrestricted funds held at 3181 March 2024 amount to £647.154. The Truste8s hold
these funds to cover any funding requirements appfied for by The New Art Gallery Walsall
aTKI any unexpected costs thal rnay arise.
Financlal Posltlon
The accounts have been prepared in accordan￿ with th8 presentation as laid down in
the Statement of Recommended praCt￿e for Accounting by Charit*s.
Payments of Interest Income from B￿win Dolphin have been received in the year totalling
£17,153. Short-term investments eamed £0,
The charity has received £5,000 donations and £3,525 in memberships.
Approved by the Trustees on;
,Date & signed on Iheir behalf by
..Diane Pe￿ (fTUStee, Chair)

INDEPENDENT EXAMINER'S REPORT OF WALSALL MUSEUMS & ART
GALLERIES DEVELOPMENT TRUST
I report to the charity trustees on my examination of the accounts of the chanty for the
year ended 31st March 2024 which are set out on pages 6 to 10.
Responslbllities and basls of report
As the charity's trustees you are responsible lor the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the charity's ac£ounts carried out under section
145 of the Act and in rarying out my examination I have followed all Ihe appli(3ble
Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examinerfs staternent
Since Ihe charity's gross income exceeded £25,000. I confimi I have the requisite ability
and practical experience to undertake the examination.
I have cornpleted my examination. I confim that no material matters have come to my
attention in connection with the examination giving me cause to believe that in any
material respect:
accounting records were not kept in respect of Ihe charity as required by section
130 of the Act; or
2. the accounts do not accord with those records.
I have no concems and have come across no olher matters in connection with the
examination to which attention should be
rawn in this report in order to enable a proper
understanding of the
ccoun
reached.
David Webb
FCA
Edwards Accountants (Mldlands) Llmited
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ
30th May 2025

WALSALL MUSEUMS & ART GALLERIES DEVELOPMENT TRUST
BalanrA sheet as at 31•t March 2024.
Notes
2024
2023
Current Assets
Cash at Bank
186,140
160,524
Debtors - Gift Aid
Interest
Short Temi Deposits
Brewin Dolphin Deposits
700,000
700,000
Total Curront Assets
886 140
860 524
Llabllltles
ACE Funding
(137,046)
(137,046)
Net Assets
Funds
Unreslrlcled funds
647,154
621,538
Restricted funds
101,940
101,940
Approved By Ihe Trustees on:
/% /71 ,'// /1 ,}6}
. Date & slgned on their behalf by
(Name ol Trustee)

WALSALL MUSEUMS & ART GALLERIES DEVELOPMENT TRUST
Statement of Flnancial Activltles for year ended 31•1 March 2024
Not•s Unrestricted Reslrlcted Tota12024
2023
Incoming R8sources;.
Interest Re￿IVed
Donations
Sponsorship
MembershiplFriends
Partnership Funding
Tax recoverable on Gift
Aid Donations
17,153
5.000
17,153
5,000
3,429
2,623
3.525
3,525
300
Income
25.678
25.678
6,3S2
Resources Expended: .
Direct Charilable
NAG Contribution
Admin ￿sIS
62
62
62
Expendlture
62
62
Net(Outgoing)Ilncomlng
Resources lor the Year
25,616
25,616
6,290
Funds as al 111 April 2023
621,538
101,940
723,478 717,188
Funds a5 at 31¥t March
2024
101940
749 094 723 478
Approv8d by the Trustees on;
/{ ,JG,) (-
Date & signed on their behalf by
Diana Pery (Trustee, Chalr)

WALSALL MUSEUMS & ART GALLERIES DEVELOPMENT TRUST
Notes to the Accounts for the year ended 31st March 2024
1)
Accountin
Policies
These financial statements have been prepared in accordance with applicable
accounts'ng standards and follow the recommendations in Statement of
Recommended Praclic*: Accounting and Reporting by Charities (SORP) issued in
2005,
b)
An Endowment fund of £500,000 was established on 27th June 1997 with Wa5sall
City thallenge funds and was held and invested by Walsall Council.
On 26 September 2022, the final dosing value of £382,336 plus £317,664 of the
Trust's own funds was invested with Brewin Dolphin, the interest being paid to the
Trust monthly.
Restrfcted funds are to be used for specified purpos8s as laid down by the donor.
Expenditure which meets these criteria is charged to the fund.
d}
Voluntary income is received by way of donal'ons and. sponsorship and is included
in full in the Slalement of Financial Activities when received, it indudes recoverable
taxation under the Gift Aid rules.
Unrestricted funds are donations and other income received or generaled for the
objects of the charity without further specified purpose and are available as general
nds.
These financial statèments have been prepared on a receipts and payments
basis.
2)
Interest Received
2024
2023
Short Tem? Loan (Endowment Interest)
Short-tem investmenls
Brewin Dolphln
17.153
3.429
3)
Donations
2024
2023
Miscellaneous Donations
Legacy
5,000
623
623

4)
Restricted Fundsls
onsorshi
Restricted funds arise as a resull of sponsorship agreements or donations for specific
purposes. The movements on the restricted funds of Ihe trust were 8s follows:
01104123 Incoming Outgolng 31103124
Sponsorships
Education Programme
Education Projects
Discovery Gallery Leaflets
Building the Audience Publication
Welcome Leaflet
West Bromwich Building Society
The Big Picture Project
Jonathan Shaw Solo Exhibition
Creative Apprentices in Museums
Apprenb"ceship Advwaty & Assistanc8
Watch This spa￿ 5
Museums,Libraries and Archives Council
Epstein Peggy Sue Artsy0￿ Acquisition
Gallery Signage
Keith Piper Publicalion (i)
Anj Smith Publication
4,920
658
1,219
4,500
1,or)o
10,000
10,000
6,270
1,463
2,500
900
370
146
3,025
7,000
10.000
4,920
658
1,219
4,500
1,000
10,000
10,000
6,270
1,463
2,500
900
370
146
3,025
7,000
10,000
63,971
63,971
Donations
Garnan Ryan Acquisilions
Conservation Appeal
Clive Beardsmore Collection
Conservation
22,869
100
15.000
22,869
100
15,000
101940
The sources of this in￿rne are as follows:
2024
2023

5)
Membershi
Income
Income was received from persons Subscribing to be members under the following
designations:
2024
2023
Benefactors
Gamian Ryan Friends
Friends
2,000
1,400
125
2.000
300
6)
Trustees Remuneralion
No remuneralion or expenses were paid to the Trustees during the year.
ACE Fundin
7)
The ACE amount of £137,046 held in the Tnjst bank accx)unt will be paid to NAG
over a Ihree-year period (2025-2027).
8)
Funds
Unrestrlcted
Restrlcted
Total
Cash at bank
Debtors
Brewin Dolphin Deposit
Total as at 31•t March 2024
169,140
17,000
186,140
615,060
84,940
700,000
886 140
Diane Perry ITnJstee, Chair)
18th March 2025