REGISTERED CHARITY NUMBER: 1070181
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2024
Be Prepared - The Story of Scouting Museum Trust
incorporating
Be Prepared- The Story of Guiding
Mcmillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Be Prepared - The Story of Scouting Museum Trust
Contents of the Financial Statements
for the year ended 31 December 2024
Page
Report of th8 Trustees
1 to 8
Independent Examinerfs Report
Statement of Financial Activities
10
Balance Sheet
11
Cash Flow Statement
12
Notes to the Cash Flow Statement
13
Notes to the Financial Statetnents
14 to 22
Distribution
The Scout Association.,
West Lancashire County Scout Council.,
Girlguiding U K-
Girlguiding North West England.,
Trust Accountant.,
- Museum Webmaster.,
Board of Museum Trustees.
- Museum Duty Curators.,
Investment Managers.

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
The trustees present their annual reports with the financial statements of Be Prepared The Story of
Scouting Museum Trust for the year ended 31 December 2024. The trustees have adopted the provisions
of "Accounting 2nd 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 January 2022).
Objectives and Aims
The aim of Be Prepared - The Story of Scouting Museum Trust {"BPTSSMF') is to educate the public on the
history and development of the SGOUt and Guide Movements. We achieve this in 2 ways, by visitors
exploring our Scout and Guide Museum located in the grounds of Waddecar Scout Carnpsite and by access
to our website. Either a visit to our museum or a visit to our website are available to all members of the
public and are therefore considered to be a public benefit under Section 4 of the Charities Act 2011.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general
guidance on public benefit when reviewing the charity's aims and objectives.
Page 1

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
OBJECTIVES AND ACTIVITIES
Chairman's Report
This is my twentieth report as Chair of the Trust and l am delighted to report that considerable progress has
been made in 2024. Last year I mentioned that arrangements were being made for all of us to have the
benefit of some hands-on training in the conservation and preservation of our artefacts and memorabilia. In
May, all the Trustees and some of the Museum Volunteers, who are not Trustees, attended for a full day's
workshop in the Museum led by Jenny Truran the Conservation Manager at Lancashire County Council's
Museum Service in which we gained a great deal of knowledge and experience which we have been putting
into effect.
We had four Trustees meetings during the year and on Saturday 21st September, we had a full day at
Fulwood Barracks at the Lancashire Infantry Museum with thanks to Michael Glover one of our Trustees.
The morning consisted of usual Trustee business but in the afternoon we held our own workshop to focus on
key issues in more depth leading to more informed decisions. Topics included defining our purpose.,
collection audit and time line., future displays., possible future building work and marketing. This was very
successful and we shall be using this format on a Saturday in September each year.
Our major project for the next four years is to complete the audit of all our artefacts held in the Museum and
record them on the specifically designed sofvare used by Museums up and down the Country which is
called Modes Complete. Most of this painstaking work is looking through box files as well as cupboards,
drawers and the likes which cannot be done on a Saturday when the Museum is open to the public
Therefore. every Tuesday a band of about 6 to 8 volunteers consisting of Trustees and Museum Volunteers
spend the full day bringing to light artefacts, many of which have not previously been documented. Any
artefact which does NOT have a Scouting or Guiding connection, is put on one side for future listing on
on-line selling sites and the money raised used for the benefit of the Museum.
Going through systematically, has revealed that we have many duplicates of either books andlor badges
which, in the first place are used as swops for items we haven't got and then sold to Scouts and Guides.
Badges of all shapes and sizes, both metal and cloth, are a thriving business and 'Badger Meets, are held up
and down the Country at least four times a year. We hosted one such gathering in the Museum in 2024 and
we are now an active part of this group. One spin off, to being involved with the 'badger meets,, is that we
have been able to promote The Little Gem and the contacts we have made have been amazing. I want to
thank Peter Bird and Phil Wheatley particularly for this initiative.
With the transformation of the Scout Association, our Scout County of West Lancs took this on board. As
far as the Museum is concerned, we are now a Sub-Team and part of the new Waddecar Support Team.
Together with the Crew volunteers and the Waddecar volunteers (duty wardens and activity leaders}, the
Sub-Team Leader of each sub team initially met monthly but now we are meeting quarterly. We each drew
up a job description and shared it with the others. This has led to better communications about what each
sub team does and has raised our profile.
l also want to thank Jack McGrath for his work as SecretarylAdministrator who, not only as a Trustee and
Museum Volunteer, also deals with the numerous enquiries that come in on info@littlegem.org uk as well as
inputting details of all artefacts onto our computer system. This is amongst the many other Jobs he does not
only every Tuesday but on other days when people want to visit the Museum. Thank you Jack from all of
us.
Finally, I want to thank all my fellow Trustees each of whom has a specialist area of knowledge as well as
the other Museum Volunteers who open the Museum on a Saturday and to the ever-increasing number who
turn up on a Tuesday unearthing treasures that we didn't know we had. Thank you to you all. The
Museum is going from strength to strength. This year we will be celebrating our 25th Anniversary and I will
report next year on a n umber of interesting developments that we currently have in the pipelinel I I strongly
recommend to you all to read our Secretary's report starting on the next page.
David fhornton,
Chair of Trustees
Page 2

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
OBJECTIVES AND ACTIVITIES
Secretary's report
l am delighted to be able to report as the Secretary of the Trust some of our more notable and significant
activities and events over the past year.
2024 has, once again, been a busy year for the Museum with our continual checking, and recording, of the
artefacts collected by the late Michael Loomes over may years along with further donations which have been
received. Our Trustees and Museum Volunteers have supervised the building when it has been open to
visitors and up to closing on 21 st December 2024 for Christmas and the New Year, we had received 2,423
visitors. We are grateful to all our Museum Volunteers for their continued support in ensuring the Little Gem
has remained operational during this time.
David King continues to provide the cleaning of the Little Gem and we are also grateful for the help and
support of members of the County Executive Committee, WaddeGar Management Committee, County staff.
members of the Waddecar Service Crew and other volunteers who have continued to help the Trust to
achieve its aims. The Friends of the Trust are also thanked for their annual contributions and we look
forward to seeing as many as possible at our next Friends Open Day.
The following entries in the Visitors, Book represent a cross section of the comments made by some of the
many visitors to the Little Gem during 2024. Scouting and Guiding visitors have come from as far afield as
Korea, the USA and Singapore, as well as from Europe (Germany, Ireland, Norway, Georgia & the
Netherlandsl. The UK has been well represented with visitors corring from Scotland, Wales, Isle of Man,
Northern Ireland and many of the Counties of England, whilst Groups representing Scouts and Guides from
within the West Lancashire Scout Districts boundaries have also been to visit the Museum.
'Great way to get an insight into Scouting history, _ St Mary's Clitheroe
'Thank you so much for talking to us about our history, 2nd Atherton Cub Scouts
'The Guides enjoyed learning and asking questions, thanks,
1st Bispham Guides
'A great experience and interesting visit, thank you, _ Rastrick St Matthew's Scout Group, Brighouse
'We had a great time. very nice Museum volunteers- HJB Wateregge, Almelo, Netherlands
'Amazing display, 5th122nd Clare Scouts, Ireland
'Not enough hours in the day to spend here, truly amazing, will be back, Nic Reader - 38th Moulton
Scouts (Northampton)
'Thank you so much for sharing the stories,
Tamari Tbilisi, Georgia
'Always a fan of a Museum, _ Newstead Rangers, Hucknall Guides & City of Notts Scouts
'Truly a Little Gem
the best collection in the worldl Amazing team of dedicated volunteers,
Beccy Martin - Kent Scouts
Jim&
'Superb Museum of Scouting and Guiding, _ John Leeks - Hampshire Scouts Heritage
'Amazing Museum, _ Jones Family - Stavanger, Norway
Significant events (in chronological orderl in this, our ￿enty-fourth full year of operating the Little Gem
include,
Page 3

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
Secretary's report - continued
4-9 August 2024 Visit to Waddecar, by 400 participants per day, from the International Camp run by
West Lancashire Scouts I"Red Rose 2024") where an average of 100 participants each day visited the
Museum.
29 September 2024 - Friends of the Museum Open Day.
21 December 2024- Visit by the Jones Family from Stavanger, Norway
21 December 2024- Training session for Waddecar Service Crew members
Throughout the year many donations, both of money and artefacts, have been received to enhance the
Museum's collection. We still request that anyone with items they feel may be of use to the Collection
contact us first and not just 'drop' them off. We can continue to be overwhelmed by the offer of items to be
donated to the museum and going forwards we realise that we have to be selective in what we accept and
the Trustees appreciate all the kind offers of items to be donated and we will endeavour to take what is
practicable to tell as much as we can of The Story of Scouting and Guiding.
We are now gearing up for 2025 where, in July, we'll commence our 25th Year since the Little Gem, then
known only as the Story of Scouting, first opened its doors to visitors This took place just before over 1000
Scouts and Guides arrived to attend the Red Rose 2000 International Camp, which was held at Waddecar.
Jack McGrath,
Secretary
ACHIEVEMENT AND PERFORMANCE
Investment performance
Following the passing of Michael Loomes some 2 years ago the trustees became aware that the charity
would be receiving a substantial legacy from his estate and in the later part of 2023 over £850,000 was
received from Michael's estate. The trustees sought professional advice as to how best to invest these
funds to generate a return whilst at the same time protecting their value A number of trustees met with
several advisers and investment managers and following this the trustees have engaged with Close Brothers
Asset Management {"CBAM") to manage the portfolio of investments. After much consideration the trustees
deposited some £875,000 with CBAM in late 2023 to invest in such securities as they see fit in accordance
with the charity's investment policy.
During 2024 these investments achieved a gain in value of £57,000 {2023.' £38,000} and also generated
dividend income of £9,000 (2023.. £2.000) before investment managers fees.
The Trustees are satisfied with the overall performance of the portfolio.
Internal and external factors
There are many internal and external factors which will affect the future performance of the charity. The
Trustees are well aware of these and meet regularly to discuss them and plan for possible outcomes that
might adversely affect the performance of the investments or physical access to the museum for example.
Page 4

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
FINANCIAL REVIEW
Principal funding sources
During the year the charity generated overall income of some £28,000 (2023.. £896,000). This largely
comprised of donations and legacies £7,500 (2023.. £886,700) and investment income of £18,000 (2023..
£8,300)
In summary the core income streams and cost base of the charity's activities remain largely unchanged in
most years, but the results for last year were dramatically influenced by the legacy and investment returns
The notes to the financial statements provide a more detailed analysis of the incoming resources and
expenditure.
Investment policy and objectives
The Trustees have the authority to invest funds in such stocks, shares, investments, propety or bank
deposits in the UK as they see fit and in accordance with the Governing document and Charities legislation.
The Trustees consider social, environmental and ethical criteria when managing the funds of BPTSSMT.
They would not wish to hold any investments or deposits that knowingly could be to the detriment of the
charity generally, although they are mindful that one of their prime duties is a financial one.
The Trustees have agreed to pursue a policy of low to medium risk to protect the capital value of the
investments and bank deposits held as investments. The Trustees appreciate that this will be unlikely to
produce a substantial monetary return of income for the charity but do not wish to subject the capital
available to the unpredictability of the markets.
At the year end the charity holds investments of £1,111,749 (2023.. £1,068,221). This is split as £954,470
(2023.. £912,641) in tradeable securities and cash held by the investment managers and £157,279 {2023'.
£155,580) cash held on medium term bank deposits. These investments are set-aside to generate income
and long-term growth.
In addition the charity holds £79,452 (2023.. £67,977) of cash readily available on current account to meet
the day to day running needs of the charity.
The Trustees have engaged CBAM to act as investment managers who operate within guidelines agreed
with the Trustees. The performance of the portfolio and the investment managers is reviewed against the
investment objectives on a regular basis.
Page 5

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
FINANCIAL REVIEW
Reserves policy
Following the receipt of the significant legacy last year the charity has re-visited its, reserves policy and will
do so again in the near future. This will be done in accordance with our future plans and spending budgets.,
more of which later. The charity's unrestricted funds are held in the General Fund as set out in the financial
statements. Amounts in this fund are primarily tied-up in investments and bank deposits to generate
income.
At the year end the unrestricted funds in the balance sheet are categorised as follows.,
2024
2023
Propety, fixtures and equipment used in the museum
Heritage assets and items of historical influence
Amounts set aside in income generating assets, being the
investment portfolio and bank deposit accounts
223,061
173,438
223,793
162,236
1111,749
1,068,221
Assets "tied-up" in generating income and used in the museum
Balance of reserves available to cover general running costs
1,508,248
77,532
1,454,250
68,537
Unrestricted Funds
1,585,780
1,522,787
FUTURE PLANS
The Trustees are in the process of formulating both medium and long term future plans. They are mindful of
the value of the legacy that has been left to the charity and are conscious of what Michael Loomes would
have liked to see that the charity achieves going forwards. Without going into too much detail the trustees
will look to.,
increase the access times of when the museum is open;
better catalogue all of the heritage items the charity holds.,
greatly increase the content and narrative of the website.,
offer audio and visual presentation of the museum contents.,
invest in new interactive displays..
upgrade IT platforms and display cabinets l equipment at the museum.
In doing this the trustees recognises that the charity will need to employ paid staffing resources which will be
funded from the income generated by the investments. The trustees are also mindful that the above "can't
be done overnight" and recognise some of these are more akin to medium rather than short term goals.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated
charity.
BPTSSMT is registered as a charity in England number 1070181, established by Trust in 1998 which has
subsequently been amended l updated in both 2010 and 2012.
Page 6

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Board of Trustees meet regularly over the year to monitor and action the performance of the charity and
to plan ahead. The day to day running of the museum is delegated to numerous trustees and other
museum volunteers as time allows throughout the year. The trustees also acknowledge the assistance
provided by West Lancashire County Scout Council {"WLCSC"> in the operation of the Waddecar Scout
Campsite where the museum is located.
Induction and training of new trustees
When recruiting, inducting and training new trustees, the charity follows the detailed procedures as set out in
various Charity Commission publications so as to ensure the safeguarding of the charity's assets and
reputation and to ensure best practice and also comply with the requirements of The Scout and Guide
Associations.
Related parties
The charity's museum is located in the grounds of Waddecar Scout Campsite, which is owned and run by
WLCSC, who charge the charity a nominal £1 per annum ground rent. Certain of the charity's trustees have
at one time or another also been trustees of WLCSC.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1070181
Principal address
Little Gem
clo Waddecar Scout Campsite
Snape Raike Lane, Goosnargh
Preston
Lancashire
PR3 2EU
Founder
Michael Loomes MBE, 1938 - 2022
Trustees
David Thornton
Jack McGrath
Pat Brandwood
Peter Bird
Mike Glover
Keith Jamieson
Colin Knightley
Elaine McGougan
Cheryl Sadler
Cerys Hanson-Jones
Chair
Secretary
Treasurer
resigned October 2024
appointed October 2024 and resigned February 2025
Page 7

Be Prepared - The Story of Scouting Museum Trust
Report of the Trustees
for the year ended 31 December 2024
Other Museum Volunteers
Barrie Bevan
Phil Vvheatley
Cyril Crossley
Marjorie Crossley
Holly Brookfield
Karen Bell
Carla Addison
Bernard McKibbin
Stephen Peters
Georgina Knightley
Other officials
Peter Sturgess
Webmaster
Other details
Website
Email enquiries
www.littlegem.org.uk
info@littlegem.org.uk
Investment managers
Close Brothers Asset Management
80 Mosley Street
Manchester
M2 3FX
Independent Examiner
Mcmillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA
Approved by order of the board of trustees on g April 2025 and signed on its behalf by..
DJ Thornton
Chair of Trustees
J Mcèrath
Secretary
Page 8

Independent Examiner's Report to the Trustees of
Be Prepared - The Story of Scouting Museum Trust
Independent examinerfs report to the trustees of Be Prepared - The Story of Scouting Museum Trust
I report to the charity trustees on my examination of the accounts of Be Prepared The Story of Scouting
Museum Trust (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for 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 Trust's accounts carried out under Section 145 of the Act and in
carrying out my examination I have followed all applicable Directions given by the Charity Commission under
Section 14515llb) of the Act.
Independent examiner's statement
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..
accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
DA Rogerson FCCA, BFP, ACA
Mcmillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA
9 April 2025
Page 9

Be Prepared - The Story of Scouting Museum Trust
ststement of Financial Activities
for the year ended 31 December 2024
2024
2023
Unrestricted Unrestricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
7,468
2,707
18,041
886,619
727
8,272
Total
28,216
895,618
EXPENDITURE ON
Raising funds
11,218
1,775
Charitable activities
Museum general activities
18,984
20,121
Total
30,202
21,896
Net gains on investments
45,705
NET INCOME
62,993
919,427
RECONCILIATION OF FUNDS
Total funds brought forward
1,522,787
603,360
TOTAL FUNDS CARRIED FORWARD
1,585,780
1,522,787
The notes form part of these financial statements
Page10

Be Prepared - The Story of Scouting Museum Trust
Balance Sheet
31 December 2024
2024
2023
Unrestricted Unrestricted
Funds
funds
Notes
FIXED ASSETS
Tangible assets
Heritage assets
Investments
10
223,061
173,438
954,470
223,793
162,236
912,641
12
1,350,969
1,298,670
CURRENT ASSETS
Debtors
Cash at bank
13
14
2,480
223,557
236,731
236,731
226,037
CREDITORS
Amounts falling due within one year
15
11,920}
(1,9201
NET CURRENT ASSETS
234,811
224,117
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,585,780
1,522,787
NET ASSETS
1,585,780
1,522,787
FUNDS
Unrestricted funds
16
1,585,780
1,522,787
TOTAL FUNDS
1 585 780
1,522,787
The financial statements were approved by the Board of Trustees and authorised for issue on 9 April 2025
and were signed on its behalf by
DJ Thornton
Trustee
KM Jami
Trustee
P Brandwood
Trustee
The notes form part of these financial statements
Page11

Be Prepared - The Story of Scouting Museum Trust
Cash Flow Statement
for the year ended 31 December 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
15,909)
868,609
Net cash (used in)Iprovided by operating activities
15.909
868,609
Cash flows from investTng activities
Purchase of tangible fixed assets
Purchase of heritage assets
Purchase of fixed asset investments
Sale of fixed asset investments
Movement in cash funds held by broker
Interesl received
Dividends received
<2,906)
(1,091)
1337.512
347,799
4,752
9,299
<5,831)
(15)
(950,278)
90,677
<15,060)
6,567
1,705
Net cash provided byl(used in) investing activities
29,083
872,235}
Change in cash and cash equivalents
in the reporting period
13,174
(3,626)
Cash and cash equivalents at the
beginning of the reporting period
223,557
227,183
Cash and cash equivalents at the end
of the reporting period
236,731
223,557
The notes form part of these financial statements
Page 12

Be Prepared - The Story of Scouting Museum Trust
Notes to the Cash Flow Statement
for the year ended 31 December 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Interest received
Dividends received
Donations in kind
Decreasellincrease) in debtors
Increase in creditors
62,993
g19,427
3,638
(64,979}
(9,2991
18,7421
12,0001
2,480
3,719
{45,705)
(6,567}
(1,705}
(2,480)
1.920
Net cash (used in)Iprovided by operations
15,909)
868,609
ANALYSIS OF CHANGES IN NET FUNDS
At 111124
Cash flow
At 31112124
Net cash
Cash at bank
223,557
13,174
236,731
223,557
13,174
236,731
Totsi
223,557
13,174
236,731
The notes form part of these financial statements
Page 13

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements
for the year ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP IFRS 1021 '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 1021
(effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements
have been prepared under the historical cost convention, with the exception of investments which are
included at market value, as modified by the revaluation of certain assets.
In preparing the financial statements, there are no material uncertainties about the Charity's ability to
continue as a going concern and they are presented using the Pound Sterling 1£) and the amounts in
the financial statements have been rounded to the nearest £1.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Fixtures and fittings
10 % on reducing balance
No depreciation is provided on the charity's long leasehold buildings as the trustees consider that the
lives of these assets are so long and residual values, based on prices prevailing at the time of
acquisition, are sufficiently high that any depreciation would be immaterial. Provision is made in the
statement of financial activities in the event of any permanent diminution in the value of the property.
Fixed asset investments
Listed investments are valued at their mid-market price as at the close of trading at the year-end date.
Any gain or loss on revaluation at the end of the accounting period is taken to the Statement of
Financial Activities.
Heritage assets
The charity holds and conserves a large number of artefacts and assets of historical and artistic
interest relating to both the Scouting and Guiding movements. Heritage asset that have been
acquired have been capitalised at their historic cost and are then subject to periodic revaluations.
Assets which have been donated are included at their market value. The trustees will seek to
establ ish the market value in the first instance by reference to the market prices of similar artifacts and
will consider the same when conducting periodic revaluations.
Should this price to be not
practicable, for instance due to the unique nature of the artefact, then the trustees will seek assistance
from a suitably qualified expert.
Taxation
The charity is exempt from tax on its charitable activities.
Page 14
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Financial instruments
Financial instruments are recognised when the charity becomes party to the contractual provisions of
the instrument. 8asic financial assets, which include debtors, prepayments and bank balances, are
initially measured at transaction price and are subsequently carried at cost unless the arrangement
indicates otherwise and then the asset is measured at the present value of the future receipts
discounted at a market rate of interest. Basic financial liabilities, which include creditors and accruals
are initially recognised at transaction price and are subsequently carried at cost unless the
arrangement indicates othemise and then the liability is measured at the present value of the future
obligations discounted at a market rate of interest.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains
and losses on investments are calculated as the difference be￿een sales proceeds and their opening
carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end
and their carrying value, Realised and unrealised investment gains and losses are combined in the
Statement of Financial Activities.
DONATIONS AND LEGACIES
2024
2023
Donations
Gift aid
Legacies
2,289
120
5,059
283
132
886,204
7,468
886,619
OTHER TRADING ACTIVITIES
2024
2023
Badge, book and other sales
Friends subscriptions
Sale of surplus donated and heritage items
Miscellaneous income
1,572
292
214
268
208
37
2,707
727
Page15
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
INVESTMENT INCOME
2024
2023
Dividends received
Bank interesl
8,742
9,299
1,705
6,567
8,272
RAISING FUNDS
Investment management costs
2024
2023
Portfolio management
11,218
1,775
CHARITABLE ACTIVITIES COSTS
2024
2023
Premises operating costs
Insurance
Repairs, maintenance and cleaning
IT, website and office costs
Professional fees
Other administration costs
Depreciation
2,531
4,117
2,140
1,055
3,000
2,503
2,898
3,985
2,861
2,852
2,474
1,332
3,71g
18,984
20 121
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for
the year ended 31 December 2023.
Trustees, expenses
During the year 2 trustees12023.' 2 trustees) were reimbursed for part of their expenses arising from
attending meetings and carrying out other duties amounting to £64 {2023.. £345).
Page 16
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and legacies
886.619
Other trading activities
Investment income
727
8,272
Total
895,618
EXPENDITURE ON
Raising funds
Charitable activities
Museum gener21 activities
1,775
20,121
Total
21.896
Net gains on investments
45,705
NET INCOME
919,427
RECONCILIATION OF FUNDS
Total funds brought foTward
603,360
TOTAL FUNDS CARRIED FORWARD
1,522,787
RECOGNISED REALISED AND UNREALISED GAINS OR LOSSES
The realised and unrealised gains or losses included in the financial statements are as follows,,
2024
2023
Realised gains l {losses)
Heritage assets
Listed investments
2,041)
1.500
Unrealised gains l {losses)
Heritage assets
Listed investments
8,111
7,725
40,021
47,746
Total gains l (losses)
64,979
45,705
Page 17
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
10. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Long
leasehold
Totals
COST
At 1 January 2024
Additions
190,320
37,192
2,906
227,512
2,906
At 31 December 2024
190,320
40.098
230 418
DEPRECIATION
At 1 January 2024
Charge for year
3,719
3,638
3,719
3,638
At 31 December 2024
7,357
7,357
NET BOOK VALUE
At 31 December 2024
190,320
223,061
At 31 December 2023
190,320
33,473
223,793
11.
HERITAGE ASSETS
Total
MARKETVALUE
At 1 January 2024
Additions
Donated iterns and grants
Appreciation and revaluations
162,236
1,091
2,000
8,111
At 31 December 2024
173 438
NET BOOK VALUE
At 31 December 2024
173 438
At 31 December 2023
162,236
During the year the trustees have considered the market value of the heritage assets and the
revaluation surplus for the year, included in the statement of financial aGtivities, was £8,111 (2023..
£7,725). The historic cosl of heritage assets is £82.675 <2023.. £59,584) and the aggregate of the
cumulative revaluations included in heritsge assets is £110,763 (2023.. £102.652),
The current value of exhibits is based on what might be obtained at auction, given a sufficient period
of markeling etc. and having also consideration inflation, as measured by the CPI index, on the assets
held by the museum.
Page 18
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
12. FIXED ASSET INVESTMENTS
2024
2023
Shares
Cash funds held by investment managers for future dealings
944,1 S2
10,308
897.581
15,060
954.470
912,641
Listed
investments
and
securities
MARKET VALUE
At 1 January 2024
Additions
Disposals
Aggregate realised and unrealised gains
and (losses) on investments
897,581
337,512
1346,299>
55,368
At 31 December 2024
944,162
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
897,581
2024
2023
Cash funds held by investment managers for future dealings
15,060
Page19
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtors
2,480
14. CASH AT BANK
2024
Total
funds
2023
Total
funds
Bank current accounts
Bank deposit accounts
79,452
157,279
67,977
155,580
Total
236,731
223,557
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditors
1,920
1,920
16. MOVEMENT IN FUNDS
Net
movement
in funds
At
31112124
At 111124
Unrestricted funds
General fund
1,522,787
62,993
1,585,780
TOTAL FUNDS
1 522,787
1,$85,780
Net movement in funds, included in the above are as follow5=
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
28,216
(30,2021
64,979
62,993
TOTAL FUNDS
30,202)
62,993
Page 20
continued...

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
16.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
rnovement
in funds
At
31112123
At 111123
Unrestricted funds
General fund
603,360
919,427
1,522,787
TOTAL FUNDS
603,360
919,427
1,522,787
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in fu nds
Unrestricted funds
General fund
895,618
(21,896)
45,705
919,427
TOTAL FUNDS
895,618
21,896)
45,705
919,427
A current year 12 months 2nd prior year 12 months combined position is as follows..
Net
rnovement
in funds
At
31112124
At 111123
Unrestricted funds
General fund
603,360
982,420
1,585,780
TOTAL FUNDS
603,360
982,420
1,585,780
A current year 12 months and prior year 12 months combined net movement in funds, included in the
above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
923,834
152,098)
110,684
982.420
TOTAL FUNDS
923,834
52,098)
110.684
982,420
Page 21
continued

Be Prepared - The Story of Scouting Museum Trust
Notes to the Financial Statements - continued
for the year ended 31 December 2024
17. RELATED PARTY DISCLOSURES
During the year the charity paid £2,476 (2023: £2,849) to WLCSC for premises costs for the running
of the museuTn. The Little Gem museum is located within Waddecar Scout Campsite which is owned
by WLCSC and the amounts paid were at a normal, commercial rate.
Page 22