2025-03-31-accounts

Registered number: 03879872 Charity number: 1079639

THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1 - 2
Chairman's Statement	3 - 5
Trustees' Report	6 - 31
Independent Auditors' Report on the Financial Statements	32 - 35
Consolidated Statement of Financial Activities	36 - 37
Consolidated Balance Sheet	38 - 39
Charity Balance Sheet	40 - 41
Consolidated Statement of Cash Flows	42
Notes to the Financial Statements	43 - 72

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees	Mr Peter Mothersill, Chair	Mr Peter Mothersill, Chair	Mr Peter Mothersill, Chair
	Ms Rebecca Blackwood
	Ms Michelle Brown (appointed 24 January 2025)
	Ms Jennie Collingwood
	Ms Deborah Corbett
	Mr Christopher Davy (deceased 12 July 2024)
	Ms Jennifer Francis (appointed 24 January 2025)
	Mr Stephen Howell
	Mr Gordon Morrison (appointed 24 January 2025,	resigned 24 January 2025) )
	Dr Kenneth Partington
	Ms Christina Pascoe (appointed 24 January 2025	, resigned 24 January 2025) )
	Mr Michael Robinson
	Councillor Elizabeth Scott
	Mr Eliot Smith
	Ms Alison Thain OBE
Company registered number 03879872 Charity registered number 1079639 Registered office The Bowes Museum Newgate Barnard Castle County Durham DL12 8NP Principal operating office The Bowes Museum Newgate Barnard Castle County Durham DL12 8NP Company secretary Mr Simon Lee Independent auditors Clive Owen LLP Chartered Accountants and Statutory Auditors 140 Coniscliffe Road Darlington County Durham DL3 7RT

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Bankers Natwest Plc 12 Market Place Durham County Durham DH1 3NG Solicitors Womble Bond Dickinson LLP Helix The Spark Draymans Way Newcastle Upon Tyne NE4 5DE Investment Managers CCLA Investment Management Limited One Angel Lane London EC4R 3AB

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

The Chair and Executive Director present their statement for the year. 2024-25 at a glance:

• 96,933 visitors, a 25% increase from previous year

• Summer 2024 successfully renewed our Museum Accredited Standard status.

• One hundred thirty-one volunteers, representing a 60% increase, contributed 4,979 volunteer hours.

• Total monetised social value of volunteering is £266,550 (£99,580 economic value and £166,970 wellbeing value using the Silver Measure Up method).

• 9,566 children and young people engaged in learning programmes, contributing to hours of creative and conversational activity.

• We engaged and worked with 94 Artists, Designers, and Makers.

• A total of 37,434 participants participated in activities, including Swan performances and Spotlight tours.

• Café Bowes won ‘Museum Café of the Year’ at the National Museum & Heritage Awards.

• Five exhibitions featuring Artists, including international and nationally recognised names, such as Joy Labinjo, Matt Smith, Pablo Picasso, Meret Oppenheim, Kinnari Saraiya and Ronald Moody. Across the period, we commissioned over six artists to create site-specific work.

• 94 artists commissioned, including ceramicist Megan Randall for the Young Curators programme, Jonah York for the HMP Deerbolt project, Drag King and sculpture artist, Lady Kitt, for a CPD event in conjunction with Pride in Teesdale, three local artists for phase one of The Reimagine Project, outside our dedicated freelance artist team that runs workshops.

• Artworks loaned to Hyogo Museum, Japan; Basel’s Kunstmuseum, Germany; Leuven Museum in Belgium; The Wallace Collection and The Royal Collection in London; and, more locally, The Auckland Project, Durham (amongst others).

• Bowes Museum Enterprises significantly increased its turnover and donations to the Museum.

• £615,257 funding was secured for strategic projects and programmes.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The past year has been one of significant progress and development, creating renewed confidence in the Museum’s ability to thrive long into the future. This progress is reflected in the continued growth of our audiences, the strengthening of our programmes, and the establishment of a clear strategic pathway stretching ahead to 2092, the bicentenary of the Museum’s opening.

In 2024–25, we welcomed over 97,000 visitors — a 25% increase on the previous year — and now have nearly 30,000 valued members. This growth highlights the appeal of our exhibitions, activities and collections. Standout moments included Kith and Kinship: Norman Cornish and L.S. Lowry and From Joséphine Bowes: Trendsetters and Trailblazers , alongside innovative displays, residencies and co-produced programmes which brought fresh voices and perspectives into the Museum.

We were delighted to renew our Museum Accreditation, affirming the care we take of our collections and our commitment to the highest professional standards.

Café Bowes was recognised nationally with the Museum Café of the Year Award, and we were shortlisted for the Curiosity Project in the 'Permanent Exhibition of the Year' category of the 2025 Museum and Heritage Awards.

Our learning, volunteering and community engagement programmes have also expanded considerably, with nearly 10,000 children and young people taking part and volunteers contributing over 4,900 hours. These achievements reflect the powerful role the Museum plays in enriching lives.

We secured more than £615,000 in funding to support strategic programmes, including the Towards Bowes 2092 project. This long-term initiative is fundamental to ensuring sustainability as we look towards our bicentenary, addressing environmental responsibility, digital innovation, financial resilience, workforce development and investment in our site and facilities. Improvements already realised include the refurbishment of parking facilities, new accessibility improvements, EV chargers and upgraded wayfinding.

These successes have been delivered despite rising energy, insurance and wage costs, coupled with static public funding, which present significant challenges for the organisation and sector. Nonetheless, we remain resolute in continuing to build a stable and resilient platform that will secure a strong future for the Museum.

The contribution of the trading subsidiary, Bowes Museum Enterprises (BME), is vital to help with the day-to-day running costs of the charity. The increases in visitor numbers in the year were reflected in turnover as the cafe and shop turnover increased by more than 20%. This meant that the donation from BME to the museum charity was more than 50% higher than in 2024.

As Chair and Executive Director, we are deeply grateful to our dedicated staff, our growing community of volunteers, our funders and partners, and above all, to our visitors and supporters. Together they ensure that The Bowes Museum continues to be a place of inspiration, creativity and learning — rooted in its community, while extending its national and international presence.

In the year ahead, we will continue to build momentum, deliver ambitious programmes, and take the next steps in our transformation journey. With the commitment of all who share our vision, we are confident that The Bowes Museum will continue to thrive as a museum for the 21st century and beyond.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Signer ID: G594JDRIE8... Peter Mothersill Chair of Trustees Date: October 2025

Hannah FoxSigner ID: NOKOARNPSE... Executive Director Date: October 2025

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Objectives and activities

Objectives and aims

The Bowes Museum's charitable objectives are the provision of:

(a) a public Museum (b) a public park

In these objectives:

‘Public Museum’ has the same meaning as it has in the Public Parks Schools and Museums Act 1871 construed in the context of the Will and Codicil of Josephine Bowes; and ‘Public Park’ has the same meaning as it has in the Public Parks Schools and Museums Act 1871 construed in the context of the Will and Codicil of Josephine Bowes.

The Museum’s objectives and aims have been achieved through an attractive programme of permanent and temporary displays and exhibitions, educational events, family activities and outreach work, as detailed in the report from the Museum’s Executive Director and Chairman.

Public benefit

The charity's aims and achievements are set out within this report. The activities set out in this report have been undertaken to further the charity's charitable purposes for the public benefit. The Trustees have complied with the duty under Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and the Trustees have paid due regard to this guidance in deciding what activities the charity should undertake.

Volunteers

We continue to develop new volunteer opportunities as part of our commitment to expanding and diversifying volunteering across the museum. This year, we have grown this community and launched our Young Volunteers Programme, supported by funding from AIM Connected Communities. We were delighted to welcome thirteen young volunteers from Teesdale Academy who worked closely with our teams throughout the summer. We are immensely grateful for the continued involvement and support of all our volunteers.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report

Achievements and performance

1. 2024-25 Performance

Area	Actuals £	Against Target%	Compared to 2023-24 £
Visitor Numbers	96,993	106.35%	77,746
Average daily visitors	268	106.35%	215
Total Museum income	2,854,079	100.08%	3,492,013
(Ticket/memberships)	584,128	108.55%	434,091
Total Enterprises income	1,205,533	115.14%	945,146
(Events)	121,089	71.25%	120,184
(Café)	687,722	121.25%	547,436
(Shop)	396,722	128.22%	277,526
Total Expenditure	3,546,199	170.14%	3,306,053
(Museum staff costs)	1,298,015	102.25%	1,271,194
(Enterprises staff costs)	486,775	112.45%	412,186
(Activity costs)	119,484	71.10%	95,075
(Premises costs)	384,136	117.41%	584,423
(Insurance costs)	127,474	168.88%	94,507
(Marketing costs)	67,510	119.59%	37,000

2. Review of Activities

Over the last three years, with a new Senior Leadership Team, the organisation has redefined its organisational purpose, vision, mission, aims, and objectives, as well as a new Arts Council England NPO 3-year programme. Therefore, we have refreshed our reporting approach to monitor and measure organisational performance against KPIs across all business areas, including our Action Plan and ACE Investment Principles, ensuring we efficiently and accurately monitor and communicate our data and evidence to stakeholders and partners.

The quarterly report we produce to Durham County Council now includes the following:

• Quarterly Strategic Activity Overview.

• Performance Dashboards are used internally by the Senior Leadership Team (SLT) to monitor performance and trends against critical KPIs.

• Progress on our Action Plan against our aims and objectives.

• Strategic Project updates.

• Partnership and Presence updates.

• Updates by operational areas – Commercial and Operations, Programmes and Collections, Development and Communications.

• Risk Register.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

3. Staffing Structure & Leadership

A restructure of the organisation’s leadership and management (Tiers 1,2, and 3) was delivered in 2021-2023, and a restructure of the wider workforce was undertaken in late 2023-early 2024 as part of the ‘Getting the Basics Right’ period of our strategic plan.

In line with our Strategic Business Strategy, 2024-25 is the period titled ‘Build momentum and get underway’. We have spent time talking to and aligning with funders to help us take the next significant steps in our transformation journey. A successful application to the Heritage Fund has supported a two-year project called “Towards Bowes 2092”, which aims to reassess aspects of the organisation, including its business and funding model, environmental sustainability strategy, digital and technology strategy, and building and site investment plans. This exciting time requires further skills and experience to deliver this effectively. (See more about Bowes 2092 in the next section of this report.)

The Senior Leadership Team analysed the strengths and weaknesses in the entire organisational structure following the completion of the Tier 4 restructuring, the natural changes in the staff team, and in anticipation of the Bowes 2092 project. Further changes in roles and responsibilities were required to achieve the Strategic Business Plan’s aims and objectives, as well as the Heritage Fund-supported Towards Bowes 2092 project. The changes ensure that the workforce has the right roles and capacities to accomplish these ambitions and that our staff are equipped and supported to do their jobs well and enjoy working at The Bowes Museum.

After decades of struggle and underinvestment, the Strategic Business Plan and Towards Bowes 2092 are designed to create a relevant, 21st-century Museum that is forward-thinking and financially sustainable. The Heritage Fund investment affords us a window of opportunity to take a significant stride forward in our plans, and we have momentum in our commercial work that needs to be built upon – particularly in a competitive market as other venues in the county deliver major investment projects.

Our Arts Council England (ACE) National Portfolio Organisation (NPO) status is essential to our work. We plan an exciting and ambitious programme to engage a broad range of audiences and communities. We need to ensure we maximise the reach and impact of our programmes and fully realise our commitments as an ACE NPO.

The restructuring process was undertaken and completed in January 2025. It resulted in one manager taking voluntary redundancy, and another was appointed Head of Commercial and Visitor Welcome. Two other staff responsibilities also changed. In March 2025, a Director of Partnerships and Engagement, a Head of Marketing and Audiences, and a Head of People were appointed. A Project Manager and an Admin Assistant were appointed on fixed-term contracts for the Towards Bowes 2092 Project.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

4. Strategic Business Plan and Bowes 2092

The organisation continues to measure performance against the 2023-28 Strategic Business Plan. The work from the previous two years, in ‘Getting the basics right and building strong foundations,’ demonstrated its value with consistently high performance in visitor numbers and income, along with improved galleries, displays, and staff spaces.

The Business Plan’s five Strategic Aims and Objectives are as follows:

• Take care of what’s important (people, place, unique assets).

• We will support our people.

• We will run our organisation ethically and well.

• We will be responsible custodians - Environment, facilities, assets, resources.

• Invest in the future.

• We will affordably develop our spaces, informing and supporting our long-term plan.

• We will create a Bowes 2092 Roadmap.

• We will create a culture of entrepreneurship & fundraising that maximises income and funding, and maintains reserves targets through 2026.

• Make a difference in our communities.

• We will embed a culture of inclusivity and co-production.

• We will connect proactively to the culture sector landscape.

• We will keep in touch with our audiences and their needs, existing and new.

• We will support artists, designers, and makers of today and tomorrow.

• We will support and uplift our Children and Young People, and local communities.

• Create outstanding experiences.

• We will celebrate and inspire creativity.

• We will make sure there is always something great to do.

• We will be accessible to everyone.

• Support our region’s ambitions.

• We will change the sector’s lending landscape and bring outstanding art to the region.

• We will develop strong regional and global partnerships based on mutually beneficial relationships.

• We will communicate our purpose and impact.

Specific achievements against our Strategic Aims and Objectives :

Aim 1 – Take care of what’s important – people, place and unique assets

• Installation of new 3[rd] floor boilers to improve working conditions and eliminate the use of electric heaters.

• The third-floor staff space refurbishment is underway, and all fourth-floor staff have been relocated to the third floor.

• Staff communications included monthly video updates and quarterly staff briefings.

• Annual summer staff trip and winter workforce party took place.

• A values-based framework for annual performance reviews has been launched.

• The new Governance structure got underway, with three new committees – Governance, Enterprises, and Finance, Risk & Resources.

• Museum Accreditation was successfully renewed.

• Four redeveloped galleries and three accessible collection stores were created in cooperation with community members and volunteers, thanks to support from funders, including DCMS Wolfson.

• Carbon Literacy Training rollout began.

• The Green Team was re-established with an action plan in place and links to regional and national initiatives.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

Aim 2 - Invest in the future

• Young Volunteers and Young Curator groups formed and are working in co-production with staff across key areas, including collections, display, and marketing.

• LGBTQIA+ co-production programme ‘Be you at the Bowes’ developed a trail exploring new narratives.

• The Kith and Kinship project with learners at HMP Deerbolt resulted in a thought-provoking Zine and won a ‘Strengthening Partnerships’ award at the North East Prison Awards in March.

• The Durham Creative Community Fellows programme was launched in partnership with US-based NAS and Derby Museums, supporting 17 leaders in arts and culture across County Durham, and delivered as part of the ‘Into the Light’ ACE-supported Place Partnership initiatives.

• Funding was secured for the redevelopment of the three ‘Founders’ Galleries’ in 2025-26.

• The MEND-funded ‘Journey to Accessibility’ redevelopment of the car park and accessible facilities was completed.

• A high-level future Feasibility Study and Options Appraisal for the buildings and parkland was developed, supported by funding from Highways England.

• Funding was secured towards the upgrade and replacement of fire doors.

• A new education programme for schools and educators was launched and includes comprehensive support for SEND providers.

Aim 3 – Make a difference in our communities

• Increased and diversified volunteering roles across seven departments, ensuring more relevant and engaging volunteering opportunities.

• Young Volunteer programme launched in partnership with Teesdale Academy to diversify our volunteers and grow skills and experiences in a mutually beneficial way that moves people closer to the job market.

• Ongoing visitor experience training is being rolled out for staff, introducing new interventions in the Welcome Team to help ensure a ‘visitor first’ approach.

• Director-level engagement with the English Civic Museums network and UK-wide Creative Industries Growth initiatives.

• The membership events programme is underway, featuring increased and more relevant communications with our membership community.

• Artists, Designers, and Makers are being regularly offered residencies and commissions, with 58.3% of those engaged having protected characteristics, and/or are from the North.

• In December, 4650 people visited the Winter Market, with 119 individual traders (30% of whom were artists, designers, and makers).

• Three SEND schools co-created new SEND sensory resources, including a museum-based ‘sensory’ station to improve the experience of children and young people.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

Aim 4 - Create outstanding experiences

• The Kith & Kinship – Norman Cornish and L.S. Lowry exhibition showcased the work of two acclaimed Northern artists and contributed to an increase in visitor numbers compared to the previous year.

• Two collection-led exhibitions, ‘Stories in Stitch’ and ‘Vivienne Westwood In Focus’, were well received, allowing us to test ideas and develop new partnerships.

• Eight ‘Conversation Wall’ displays revealed unseen objects and covered themes, including Ageing Better, 19th-century Paris, World Rivers Day, Food Production, and LGBTQIA+ Awareness Month.

• We participated in national programmes through our Heritage Open Day and National Lottery Week initiatives, during which more people engaged than in previous years (a 19% increase for Heritage Open Day).

• Our daily Spotlight Tours, led by Curators, Welcome Team members, and Volunteer Guides, offered daily bite-sized opportunities to learn more about exhibitions, objects, and collections.

• We launched a series of adult-learning initiatives, including an LGBTQIA+ CPD workshop with 48 attendees, as well as talks and workshops for the Kith & Kinship and Vivienne Westwood exhibitions.

• A new VR tour of the building was created to support people in planning their visits and identifying accessibility support and needs.

• Hearing loops were installed in the café and shop, and portable loops purchased for talks and tours.

Aim 5 - Support our region's ambitions

• A partnership between TBM, The Russell-Cotes Art Gallery and Museum, and The Watts Gallery was established to deliver a collaborative touring exhibition.

• We collaborated with County Durham partners to establish the Into the Light project, under which TBM is delivering the Durham Creative Community Fellows programme for leaders who use arts and culture to effect change in the county.

• Eleven loans of objects from our collections were given to seven venues in the UK and internationally.

• We continue to work closely with county and regional partners through various initiatives, including membership on the Advisory Boards of Locomotion, the Culture Durham Partnership, and Visit County Durham.

• Our application for the National Gallery CPD programme to explore our Blackborne Lace Collection, in collaboration with Northumbria University, was successful.

• New Tone of Voice guidelines and audience profiles were created alongside a review and changes to digital content, and refreshed visitor research to better connect people more widely to the museum and its activities.

• We secured national and international media coverage of the Kith and Kinship exhibition.

While 2024-25 was a good year in many ways, the significant costs of repairs and renewals, energy, insurance, and wages, set against static core funding from Arts Council England and Durham County Council, represent real-term cuts once inflation is considered. The reality of caring for the buildings and parkland, including ensuring regulatory compliance, also requires significant investment, as does the need to keep up with changing technological advances. As reported in last year’s report, the Executive Director, working with the Senior Leadership team and Trustee representation, concluded that a new approach is required to achieve a stable future for The Bowes Museum. Our peers across the sector are experiencing similar challenges. Without radical action, the organisation could face a continued decline in financial resilience, putting the future of The Bowes Museum at risk. This work informed ‘The Bowes 2092 Plan’, reflecting the need for longer-term planning to ensure the Bowes Museum’s future is secured (2092 is The Bowes Museum’s 200[th] anniversary). This plan serves as the foundation for the next phase of transformation.

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

The Bowes 2092 Plan was approved by the Board of Trustees and presented to the AGM in December 2023, and work began in 2024. Resources to start this work began to be secured with funding from National Highways to support Aim 2, ‘Create a fully realised capital programme’, which enabled a Feasibility Study and Options Appraisal for the site and buildings. Bowes 2092 took a step forward with the successful application to the Heritage Fund for £250,000 to support the two-year ‘Towards Bowes 2092’ project.

The Towards Bowes 2092 Project Manager and Project Administrator are now in post and have been working with the Executive Director to scope out the project activities and undertake associated research, including:

• Regional, national and international operational and social context

• Potential advisors for established project strands

• Potential list of supporters for future capital fundraising

Research for the Towards Bowes 2092 project has already included attending various events, such as the Creative UK Investment for Growth conference, and strategic conversations with leaders across the UK and the USA, laying the groundwork for follow-up discussions and networks. Where the original project proposal had a series of different strands, we are now clear that the interrelations between the strands will lead us to a more joined-up discussion with a breadth of advisors alongside focused commissions.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

5. Membership and Audience Development

Following the launch of our new membership scheme in June 2022, offering a more straightforward pricing, we have reached a membership database of 29,386.

The nurturing of our membership continues with quarterly Members Day. Alongside behind-the-scenes tours, we hold Q&A sessions where members ask many fantastic questions and get involved in behind-the-scenes sessions about the museum's operations.

We hosted a wonderful spring Family Day, which drew over 800 visitors. We also supported National Lottery Week with free entry for over 300 lottery ticket holders, and our new concert series got off to a great start with two sold-out performances by Nerina Pallot. One thousand five hundred visitors attended the annual Heritage Open Day in September.

Key areas of Marketing and Communications activity:

• A review of marketing and communications activity took place to ensure the financial and staff investment is delivering on our core business objectives, with a key focus on raising the museum’s profile and reach. This has included testing new platforms, such as Darlington County Council's large outdoor digital screen, and engaging regional partners in new or enhanced joint marketing activities, including Visit County Durham, Beamish, Spennymoor Town Council, and Redhills.

• Working closely with our PR agency engaged to deliver media coverage for the Kith & Kinship: LS Lowry & Norman Cornish exhibition, significantly high levels of media coverage have been achieved regionally, nationally, and internationally (including The Guardian, Radio 3, Washington Post, CNN, ITV, Northern Echo, arts publications, and many more).

• The relaunch of the Silver Swan, Vivienne Westwood, and Stories in Stitch exhibitions has achieved additional media coverage and digital engagement. The Silver Swan achieved exceptional reach and engagement across social media platforms.

• The first phase of visitor orientation has been refreshed and improved by introducing new internal and external signage and wayfinding. The signage, in conjunction with a review and replacement of the current Visitor Information leaflet (currently underway), aims to enhance visitors' on-site experience and help them maximise their visit, while also encouraging repeat visits.

• A new Accessible Tour has been created with the support of a regional initiative called Everybody Welcome. This is a game-changing piece of work that enables people to plan their visits thoroughly and breaks down the barriers some may feel about visiting the museum. https://thebowesmuseum.org.uk/visit/access-for-all/

• The website review will result in significant improvements to the user interface, more straightforward navigation, and a strengthening of the Museum's story, collection, programming, support, and commercial aspects, with a further phase planned. During the year, we’ve seen significant growth in website users; however, with more targeted content and more search engine-aligned terminology, we expect to see continued growth.

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6. Programmes and Activities

Throughout the year, and as part of our Arts Council England National Portfolio Organisation responsibilities, we have delivered outstanding programmes aimed at engaging and supporting our local communities.

Communities

• Co-production initiatives continued with various programmes and projects engaging underrepresented communities. These included:

• The launch of Be You at The Bowes’ first LGBTQIA+ object trail in the permanent galleries. This was supported through partnerships with Curious Arts, TCR Hub and Northern Heartlands. The objects provided a starting point to guide us as we broadened our shared understanding of the long history of the LGBTQIA+ community, which dates to the earliest human civilisations. Across six sessions, 22 people, all with protected characteristics, met to discuss, shape, and share, working towards a trail exploring re-interpretations of Museum objects to be released in conjunction with LGBT History Month in February. The resulting trail encourages visitors to explore the collection, discover new narratives, and reexamine old ones.

• Our work with learners at HMP Deerbolt in a co-produced programme called ‘Unheard Voices’ linked to the Kith & Kinship exhibition. Theatre practitioner Jonah York collaborated with 20 learners to develop ideas centred on kinship, brotherhood, family, and community in response to the Kith & Kinship exhibition. Learner responses were gathered and added as an interpretive tool for the exhibition. Evaluation showed that young people built their cultural confidence, creative skills, and literacy levels, and these improvements contributed to their overall well-being. Thirty-two people took part, with a core group of 16 attending all 10 sessions. Every participant shared how much they enjoyed the programme and their first introduction to arts and culture. 100% said that because of this programme, they feel more motivated to try new things in the future. The Unheard Voices programme won a 'Strengthening our Partnerships' award at the North East Prison Group Awards in March 2025.

• Eighty children and their teachers from North Park Primary, Spennymoor, Clervaux Garden School, Croft, and Aycliffe School, Newton Aycliffe, took part in a co-produced project to develop a self-led resource for neurodiverse children and adults. A new self-led sensory station will launch in April 2025.

• Increased opportunities for people to visit the Bowes Museum for free, including Family Days and our annual Heritage Open Day in September, during which over 1400 people visited for free and had opportunities to explore behind the scenes and take part in unique artist and curator-led activities.

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Volunteers

Our focus on increasing and diversifying our volunteer community continues to have an impact. Over the last 12 months, our volunteer community have donated 4,979 hours of voluntary help, 50% more than the previous year. Additionally, the museum conducted its second annual volunteer survey. Of the 47 volunteers who completed the Annual All Volunteers Survey, key findings highlight:

• 68% of survey respondents reported learning new skills.

• 49% of survey respondents reported increases in confidence.

• 72% of survey respondents reported improved well-being.

• 98% of survey respondents reported an increased connection to TBM through volunteering.

Volunteer Activities:

• We co-produced the new Hive gallery with four volunteers in the spring of 2024, who have continued to volunteer at the Museum as Activator Volunteers. This team has also subsequently delivered a talk about what it was like to co-produce the HIVE to SLT and staff members.

• As part of the launch of the new Curiosity Galleries, nine Volunteer Activators began welcoming visitors, engaging in conversation, and supporting activities in these spaces.

• Working in partnership with Teesdale School and young people aged 12 – 17 years, we launched a pilot Young Volunteers programme supported by AIM Connected Communities. It was funded by the Department for Culture, Media and Sport (DCMS) Know Your Neighbourhood Fund through Arts Council England (ACE). Thirteen Young Volunteers have worked with museum staff across the organisation on several important projects, including collections care and visitor experience. Six of these volunteers have trained to become mentors for the 2025 cohort.

• The Museum expanded its inclusivity by partnering with Bridge Creative, enabling adults with learning disabilities to join the activator volunteer team. Additionally, collaboration with Durham Enable supported a neurodiverse young person in gaining workplace experience. A second cohort of Activator Volunteers began in July 2024.

• Volunteers played key roles during the Heritage Open Day in September, offering guided tours, handling objects, and providing support for staff-led activities. Volunteers also supported the Winter Market 2024 and helped deliver the concert programme.

• A corporate volunteer day was hosted with GlaxoSmithKline from Barnard Castle.

• Two volunteer celebration events were held, including one specifically for Young Volunteers and their families. An All Volunteers Briefing in March 2025 brought together 27 volunteers for updates from leadership.

• New volunteer teams were formed to support fundraising, marketing, and conservation cleaning. The Conservation Team, led by the Collections Coordinator, is now actively involved in caring for the museum's collections. A small team was also created to assist with the concert programme. A draft Volunteer Strategy is currently in development to guide future efforts.

Volunteer Training:

Training efforts included two days focused on engaging young people, attended by 16 staff members across various departments and three Lead Volunteers. The first Values training session for volunteers was also delivered.

Lucy – one of our Activator Volunteers, shared:

“Co-producing was a transformative experience that massively boosted my sense of confidence and community and gave me really valuable practical experience, which I have learnt so much from.”

Claire another Activator volunteer added:

“Volunteering at The Bowes Museum has been life changing for me. The confidence and support I have received in a year has enabled me to plan a career change. After 29 years as a primary teacher, I am soon going to be studying for an MA in Art, Design, Culture & Curation at The Northern School of Art alongside working freelance as an Artist Maker within the museum.”

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Hana Madeley – Lead Volunteer for the Activators gave the following feedback: “My volunteering experience with the Bowes Museum began over a year ago. I was taking some time out before university and wanted to explore the arts and heritage sector and the different opportunities on offer. Through my experiences at TBM I have been able to see many aspects, from being in galleries welcoming visitors, helping at large scale events, to conservation and education. This has had a profound impact on me. My confidence has grown immensely, and it has also provided a job with Lumiere. This wouldn’t have happened had I not been supported, believed in and prioritised by the team at TBM, especially the Co-production Volunteer Manager. I could not be more grateful as opportunities here have helped me in so many ways.”

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Learning, Education, Families and Young People

A key facet of the Transformation Project is to ensure we are community-centred and relevant. This cross-cutting theme has resulted in a renewed commitment to providing facilities, programmes, and activities that support learning and engagement, particularly for families, children and young people. Throughout the year we have undertaken several initiatives towards these ambitions, including:

• The ‘Curiosity Project’ opened in April 2024, featuring four redeveloped gallery spaces (which brought two previously inaccessible spaces back into use) and three collection stores. We had identified an urgent need for improved learning and engagement spaces, facilities, and accessible storage.

• Programming across the building, parkland, and in our neighbourhoods and region, where 37,424 people have engaged with the Bowes through talks, tours, workshops, performances and longer-term programming initiatives. This significant uplift from last year is a response to the development, expansion, and inclusion of regular Spotlight Tours, delivered nine times a week, as well as daily Silver Swan and Alter Piece talks and performances.

• A new summer programme launched in July 2024 with daily activities, including artist-led workshops for children and adults, environmental workshops exploring the parkland, tours and regular gallery interventions. Over the six weeks, we saw a 38% increase in visitor engagement.

• A regular programme of Wednesday artist workshops proved popular, with an increase of 98% from the previous year’s attendance figures. Stay-and-Play sessions for under 5s and their families saw a 100% increase, with six indoor and three outdoor sessions in the parkland. Adult workshops were well-attended, and all future adult creative programming was fully booked.

• This year’s Heritage Open Day was the most successful to date. With free entry to the museum, the day included guest lectures, spotlight talks from staff and volunteers (including our Young Volunteers), Artist workshops, story sessions, live Conservation in Action and handling stations. 1439 people attended the day, an increase of 23% from 2023. 101 memberships were sold, a 216% increase from last year. Secondary spending was also positively impacted. The cafe saw a 28% increase in net takings and the shop a 25% increase.

• 840 people attended the museum’s Family Day in February 2025 half-term for free. A full-building takeover of artist-led activities, including handling tables, talks, and close-up conservation activities, contributed to a well-attended and well-received building buzz.

• Eighty children and their teachers from North Park Primary, Spennymoor, Clervaux Garden School, Croft, and Aycliffe School, Newton Aycliffe, took part in a co-produced project to develop a self-led resource for neurodiverse children and adults. A new self-led sensory station was launched in April 2025.

“A lovely well-presented museum...3 generations enjoyed our day. Thank you!” - TBM Visitor

“This event was fantastic, there was [sic] talks, tours, artist workshops, young people workshops and handling tables. There were young volunteers who, must have been about 14 giving tours which was fantastic. There was always something to do and the current exhibition was amazing. We learnt so much and the staff were all so friendly and helpful. We will definitely go again.” - TBM Visitor

“Bowes Museum is close to my heart as my late grandparents and father took me on regular visits as a child. I retired last year and moved to Barnard Castle as I feel rooted in this part of County Durham. As finances are tight, the prospect of a free visit made it too good to miss. My senses were flooded with memories and seeing the exhibitions brought back some very happy thoughts. I chose to visit alone so I could immerse myself in the experience which was absolutely the right decision. The weather on the day I visited was exceptional for early September and the grounds looked beautiful in the late afternoon. Unforgettable, thank you.” - TBM Visitor

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Exhibitions and Display

In Spring 2024, the group show Murmuration closed. Exhibiting a collection of work with internationally significant contemporary loans, the show represented a positive step-change in public expectations of TBM’s programming. Visitor comments included ‘powerful’, ‘vital’, ‘timely’, and ‘an excellent reminder of our responsibilities’.

On 19 July 2024, Kith and Kinship: Norman Cornish and LS Lowry (K&K) opened with a fully booked preview event. Over 50 works, almost half of which had never, or rarely, been seen in public, explore the communities, experiences and environments that fascinated Cornish and Lowry. Cornish drew directly from his experience as a miner in Spennymoor. His pit, street and family scenes warmly reflect the community he was part of and the lives he and his neighbours shared. Lowry, by contrast, captured the toil, landscape and leisure in his work from the point of view of an ‘outsider’. The exhibition was extremely well-received and welcomed 25,776 people, supporting a 22% increase in visitor footfall compared to the same period last year, and garnering positive comments and press coverage. Visitors noted:

“An excellent exhibition - the very best I've seen in decades. So much you've got right - excellent artwork descriptions with examples which add untold value to understanding and reflection."

"Absolutely wonderful exhibition - feeling very nostalgic - living in Spennymoor now to seeing what it was like. Lowry - brought back childhood memories which I am now sharing with my children. My uncle would sing matchstick men + matchstick cats and dogs when I was very young."

Driven by positive press coverage, the initial reach included a circulation of over 392 million across broadcast, print, and online platforms, with features in The Guardian, The Northern Echo, September’s Art Quarterly, and the Waitrose Weekend, among others. Online pieces by The Art Newspaper, Painters Online, The QT, Yahoo!News, BBC NorthEast and the Chronicle prompted international interest and features by USA’s The Washington Post, Smithsonian and All That’s Interesting.

Stories in Stitch (SiS) 18 May - 24 October followed an initial presentation of Vivienne Westwood’s designs from the collection of Peter Smithson. SiS presents work that Joséphine and John Bowes acquired as part of the Founding Collection, drawing out stories of makers, mainly girls and women, influences from art and social history, and the development of embroidery materials, techniques, and teaching from the seventeenth to the twentieth centuries. Exhibiting artists and makers include Mary Linwood, Mary Eleanor Bowes, Dorothy Ann French, and Ellen Rayson. Additionally, a new presentation of four quilts by Durham maker Leila Anderson had gone on display. Anderson took up quilting in retirement and was taught by another local maker, Elsie Walton, herself a former student of the well-known Weardale quilter, Amy Emms M.B.E. This North Country quilting heritage is reflected in Anderson’s designs and the traditional way in which she makes her quilts, by hand-stitching the fabric layers on a quilting frame. Inspired by the seasons, the silk quilt tops are hand-painted, with stitches that depict plants, ploughed fields, waves, and the sky, among other motifs.

Framing Fashion: Art and Inspiration from a Private Collection of Vivienne Westwood from the collection of Peter Smithson opened with a Members’ Private View event on 18 October 2024. It explored the wide-ranging and playful inspiration that Westwood drew from artists and their techniques throughout her career. From brush strokes to palette, gilded frames to inlaid furniture, even artists’ names found their way into her work. Westwood also drew inspiration from alternative forms of creative expression, including sculpture, theatre, film, photography, and social movements. The displayed ensembles represent a timeline of inspiration from the Greco-Roman period to the Punk movement of the late 1970s – dressing nearly 3000 years of history in undisputable Westwood style. They were accompanied by objects from The Bowes Museum’s collection, which explore Westwood’s imaginative re-use of designs and techniques throughout the centuries.

From Joséphine Bowes: Trendsetters and Trailblazers opened on 8 February 2025. This exhibition honoured the pioneering spirit and the 200th anniversary of the co-founder of the Museum, Joséphine Bowes. It showcased three centuries of eclectic art and creativity, including a curated selection of works from The Bowes Museum’s collection and significant loans from across the UK and Europe. A mix of paintings, sculptures, textiles and ceramics from worldrenowned artists, including Pablo Picasso and Sir Grayson Perry CBE, rising contemporaries such as Joy Labinjo and Lucy Waters, and a special commission by Phoebe Cummings, completed an exhibition that offered a glimpse into how Joséphine’s remarkable understanding of artistic trends and cross-genre approach to collecting might have shaped the collection today.

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343 million people have read, seen or heard about the exhibition across multiple platforms. This includes features in The Guardian, The Times and Art Quarterly. Feedback from visitors includes:

“Very interesting exhibition. Love the female artists representations change over time and Joséphine's legacy continues. Really enjoyed it - loved the questions to consider viewing the art.”

“A superb exhibition. I loved the juxtaposition of old and new. The concerns with race, class, gender etc and the way everything references back to Joséphine.”

“I loved this exhibition, the contrast in styles, the prominence of women artists, the breadth, an absolute treat - leaving me with much to think about and savour”

“The Joséphine Bowes exhibition is fantastic - really inspiring, beautifully and skilfully curated” “I was doubtful about the premise on which the exhibition was going to be created, but you have won me over completely. A very interesting exhibition. Sorry I ever doubted you.”

Throughout the year, we produced a variety of displays exploring a wide range of themes and provocations, which included over 25 store artworks that were displayed as part of the museum’s Conversation Wall capsule collections with themes such as:

• World Book Day and the power of reading and literacy access and a celebration of siblings, whether chosen or genetic. Exhibited artists included Pier Francesco Cittadini (1616-1681), Anne Catherine Coffin-Chevalier (b.1813) and Sir Quentin Blake (b.1932), amongst others.

• Parisian scenes of the Seine celebrated the city’s hosting of the Olympics and Paralympics, World Rivers Day, a commemoration of world waterways, and a call to action for careful stewardship. Exhibited artists included Adolphe Félix Cals (1810–1880), Frederic Legrip (1817-1871), Richard Wilson (c.1713- 1782) and T.W. Cowing (Twentieth century), amongst others.

• A presentation on rural agriculture questioning the future of food, farming, and our relationship with the natural world, and one work in celebration of LGBT+ History Month in February. This latter piece, attributed to Jan Mytens (1614-1670), depicts the story of Amaryllis and Myrtillo, celebrating a love that transcends outward appearances of gender. This conversation wall was co-created with Be You at the Bowes members as part of a larger project exploring new ways to interpret objects

A new display, titled "Collections on the Move" (CotM), opened in Room 31 during the October half-term. CotM aims to bring a mixed collection of objects out of the store and show them in packing and racking cases, exploring ideas of storage and access, and offering the opportunity to change the space regularly through flexible display methods. Initial in-focus collections include furniture, wood panelling, and dollhouses. A live weekly conservation opportunity facilitated by staff and volunteers explores how and why museums care for collections, and a film featuring curatorial colleagues will introduce their roles as facilitators to enable access to collections.

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Collections and Conservation

The Bowes Museum successfully renewed its accredited status and, as such, refreshed policies, procedures, collection rationales, storage, and disposal processes. Part of this process involves being a key part of the Regional Collections Network, collaborating with sector colleagues, including Beamish, Tyne and Wear Archives, and Northumberland Museums. TBM teams have used the opportunity to develop work plans and timelines for the development and rationalisation of the collection.

A new two-year Curator role (Co-production) was created thanks to funding from the John Ellerman Trust. It will help to deepen our co-production practice with communities through projects and activities.

Collection loans:

• Two long-term loans to regional friends continued, Francisco Pacheco’s The Surrender of Seville to Ferdinand III and Claudio Coello’s Mariana of Austria, to The Spanish Gallery in Bishop Auckland, and Pieter Aertsen’s Fruit and Vegetables with Peasants in the Background was loaned to Mercer’s Hall, London. Continuations of loans throughout the year were made to the Wallraf-Richartz Foundation in Cologne, the Bucerius Kunstmuseum in Hamburg, and the Kunstmuseum in Basel.

• Canaletto’s Regatta on the Grand Canal, 1730, was on loan in partnership with the National Galleries of Scotland in Japan until Summer 2025. In October 2024, the work moved from its first destination in Shizuoka to its second in Tokyo as part of a 50-work exhibition of ‘masters’ loaned from UK institutions.

• We agreed to a two-year loan to the museum for Martin Smith’s Kinetic Arboretum and finalised a long-term loan with a private donor for 12 works by Norman Cornish. The works include sketches, preparatory drawings, paintings, and mixed media pieces, with scenes mainly focusing on the local community's bustle.

Collections care, research, and conservation:

• Three third-floor stores were relocated to the fourth floor as part of our ongoing collection rationalisation and storage projects. This allows vital office space to be freed up on the third floor and provides an opportunity for an audit and assessment of ceramic, ivory, doll, clock, and stained-glass collections to be performed.

• During conservation work on paintings ahead of the Kith & Kinship show, a previously unknown portrait by Norman Cornish was discovered on the back of Durham County Council’s Bar Scene painting. This gestural oil sketch, with the trace of a previous attempt underneath it, has been hidden for over 60 years. Painted in Cornish’s younger years, it is now the artist's 29th known self-portrait.

• One of the museum’s two Canaletto paintings underwent open conservation ahead of being loaned to a Japanese tour organised by the National Galleries of Scotland.

• As part of a fixed-term arrangement, Dr Judith Philips has re-joined the organisation to complete work on the archive and library collections. With 5% of the collections still uncatalogued, discoveries are still being made. The most recent include the re-attribution of 7 paintings previously documented as ‘French School’ to Joséphine Bowes. These small still life pieces also include what is described in archival documentation as ‘a lion-like dog’, a painting previously exhibited as part of our National Dog Day Conversation Wall in 2023.

• Two newly attributed paintings were displayed in February’s “From Josephine Bowes; Trendsetters and Trailblazers” exhibition.

• We initiated the consultation and planning process necessary to transfer the collections management system from Adlib to Axiell, thereby reinstating public access to collection databases. With work on the internal system first and the lengthy process of data cleansing and collection, it is expected to be live in October 2025.

• The Museum has received an award from the Paul Mellon Foundation for its collaboration with researcher Dr Vicki Pugh from May 2025 to explore the watercolour and local print collections. Vicki will respond through an ecological lens, examining the environmental implications of radical ecology that can be explored through a collection.

Our next Collaborative Doctoral Partnership application, in partnership with The National Gallery, was successful at the assessment panel in January. A funding application to the Arts & Humanities Research Council was submitted in March, and an advert for the studentship went live in April 2025. The studentship will explore the museum’s largely uncatalogued and under-researched Blackborne Lace collection, seeking relevance in the contemporary world today.

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7. Facilities

We have achieved several key successes in improving our facilities throughout the year. These include the “Journey to Accessibility” project, supported by MEND (Museum Estate and Development Fund), for resurfacing roads and parking bays, footpath improvements, accessible parking and entry to the Museum, the introduction of EV chargers, and the installation of low-level lighting in the car parks. Work went smoothly, and the car park was reopened for visitors in mid-July 2024. New signage has also been installed, and car park flower beds have been planted with nature-friendly plants to help support and increase biodiversity in the grounds.

The Curiosity Project transformed four gallery spaces and created three new collection stores, culminating in a family-friendly launch on April 2, 2024. The new spaces were made possible thanks to grants from The Foyle Foundation, DCMS Wolfson and The Friends of The Bowes Museum.

Throughout the year, essential work has been necessary due to compliance needs and maintenance issues, and it has been a costly factor in our budgets. This work has included:

• Tree works – annual condition surveys undertaken to ensure our parkland trees are safe, enabling public access. Substantive remedial works often fall outside the scope of the survey findings and are undertaken to ensure legal compliance.

• Boiler repairs – The Museum’s boilers are old and require regular maintenance. The third-floor boilers, which provide heating to staff areas and collection stores, required replacement, for which additional funding was sought. They were switched from gas to electricity for practical installation and environmental benefits.

• Asbestos removal – Our annual survey revealed deterioration in some asbestos in the boiler house, necessitating isolation until safe removal was achieved

• Our Radon survey identified radon in two spaces on the lower level. These areas were closed for access until remedial works were undertaken, which is now complete.

• Extensive work has been underway with teams to meet Fire Inspection standards/recommendations, including progressing compartmentation surveys, office relocations, bringing staff from 4th-floor offices to the 3rd floor, and improving fire egress. At the same time, it improved staff and volunteer welfare facilities on the third floor.

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8. Fundraising and donations

Total grant income secured 24/25 = £918,334, and next financial year, which includes:

• National Heritage Lottery Fund - Resilient Heritage (£249,760) - Towards Bowes 2092

• Wolfson Foundation (£154,500) - Creating the Conditions Project

• Swire Charitable Trust (£50,000) - Creating the Conditions Project

• Art Fund - Re-imagine Fund (£49,990) - Towards co-production of the J&J Galleries

• Paul Mellon Centre (£30,000) - Curatorial Research Grant

• Pilgrim Trust (£25,000) - Creating the Conditions Project

• Art Fund Commission (£21,600) - Pippa Hale: Pet Project

• Durham Business Growth Fund (£9,920) – Towards Marketing Consultancy support

• John Horseman Trust (£7,000) - ‘Unheard Voices’ project at HMP Deerbolt

• AIM Connected Communities (£5,938) - Young Volunteers Legacy Programme

• Tavolozza Foundation (£5,000) - From Josephine exhibition support

• Catherine Cookson Charitable Trust (£3,000) – Towards the purchase of hearing loops

• Christine Dipple (£2,250) – Support of Stay & Play

• Beamish NPO (£800)

• Tennants Auctioneers (£500) – Preview event sponsor, Kith & Kinship: Cornish and Lowry

A four-year Development Strategy was written to cover income generation strategies for ‘business as usual’ fundraising, which started in April 2024. The Development Manager recruited two Fundraising volunteers to provide the department with additional support in monitoring and researching grant opportunities. Early in 2025, a Director for Partnerships and Engagement was appointed to the new role, overseeing, developing, and managing strategic partnerships, communications, and engagement, as well as leading our Development and Fundraising strategy.

Key fundraising activities include:

• A ‘test and learn’ approach is being taken to maximise revenue via donation platforms on-site. This was seen with the location of card machine donation boxes as well as specific donation messaging and resulted in the highest donation count since the inception of the ‘tap to donate’ card machine on site. Collecting cans have also been positioned throughout the building.

• A donation game took place at the Summer Market to better understand where people’s interests lie in terms of areas they would like to support. Education and Learning, Exhibitions, and Parkland upkeep were the most popular areas.

A Spektrix Working Group (Spektrix is the CRM currently used by TBM) has been established, bringing together users from various departments to streamline systems and review current usage. This group will become ‘super-users’ and ensure good data hygiene and standardised database usage.

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9. Environmental

In Summer 2024, the museum’s gas contracts were renegotiated, and together with electricity, we moved all our energy to green 100% renewable sources.

The rear lawn enters its second year as a wildflower meadow, aiming to increase and support biodiversity in the grounds while encouraging longer visitor dwell times in the parkland. The meadow will be allowed to grow and seed itself, then will be cut mid-summer. Plants identified this year included Meadow Buttercup, Common Daisy, Creeping Buttercup, Wood Avon, Self Heal, Cuckoo Flower, Mouse Ear, and Boletus fungi. A highlight was the discovery of Meadow Saxifrage, a declining species but also, interestingly, an indicator of ancient meadows. Wildlife sightings have included a great-spotted woodpecker raising chicks in the nest, a Treecreeper, dragonflies, a Song Thrush, and a Swallowtail Moth

The first cohort of staff and volunteers, the museum’s Green Team, undertook Carbon Literacy training in March 2025. They will now roll out this programme across the Museum workforce throughout the year.

All staff have been issued with an Environmental Principles document to guide daily work decisions, including procurement, waste, energy consumption, and lift sharing.

All staff facilities now have designated recycling bins, along with additional food waste bins. The museum’s food waste helps generate green energy, and our used cooking oil gets turned into biofuels.

10. Governance

A governance review held over the previous year included a reduction in the number of Trustees, the creation of a pool of trusted advisors, and an emphasis on clear roles and responsibilities between the Board and the Executive team. Work continued in 2024 and included:

• A successful recruitment drive for new Trustees targeting specialists in the Heritage/Museum sector and Accountancy. Four new Trustees were inducted and joined the Museum in January 2025.

• A Scheme of Delegation between the Board of Trustees and the Executive.

• Terms of Reference for all Committees.

• Two Vice Chairs have been agreed upon to stand in for the Chair if needed in an acting capacity.

11. Partnerships

The importance and strength of our regional, national and international partnerships have been a key focus over the past two years as we endeavour to ensure The Bowes Museum plays its part in the visitor economy and education, heritage, museums, and creative industry sectors in the UK. Our partnerships range from hyperlocal programmes with schools and prison services, regional initiatives with county and North East partners, national projects and advocacy programmes with our museum peers, and internationally-delivered projects with collaborators in the USA. These include the following:

Local and Regional AIM Connecting Communities

Successful funding from AIM Connected Communities has enabled a new partnership between Teesdale School, Barnard Castle and The Bowes Museum to deliver a youth volunteering scheme, co-designed with young people, aimed at increasing confidence, improving mental health through community commitment and civic volunteering, and providing work-ready professional experiences to raise aspirations.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

Durham County’s ACE Place Partnership

We were delighted to hear of the success of Durham County Council’s application to Arts Council England’s Place Partnership Fund. The Bowes Museum are leading on one strand entitled ‘Durham Creative Community Fellows’ in partnership with National Arts Strategies (NAS), based in the USA, and Derby Museums. This programme links to the UK and USA programmes, focusing on supporting the growth and development of cultural leaders in County Durham

Culture Durham Partnership

We are working with cultural partners on the formation of the new Culture Durham Partnership as part of an Advisory Board tasked with developing the new organisation.

Advisory Boards

The Executive Director serves on the Advisory Boards for the new developments at Locomotion in Shildon and Visit County Durham.

National

National Gallery

The Museum’s partnership with the National Gallery as a Collaborative Doctoral Partner has been reaffirmed following its successful inclusion in the national scheme. The partners welcome PhD candidates and research exploring shared collection thematics. Following six successful studentships, one researcher is midway through their research. Two further studies are being prepared, exploring co-production using the Museum as a case study and an in-depth focus on the collection’s Blackborne Lace.

Russell-Cotes Art Gallery and Museum (Bournemouth) and The Watts Gallery (Guildford)

As part of a UK-wide programme established by the Art Fund and Creative Scotland called Going Places, we will be a key player within a network of small to mid-sized museums producing two touring exhibitions over five years (2025-2030). Focusing on our founding couples’ (Josephine and John Bowes, Merton and Annie Russell-Cotes and George and Mary Watts) passion for art, culture and collecting, the network aims to explore how we make these three collections founded by creative and philanthropic couples, and rooted in their period, relevant to our communities today.

Strategic Networks and Memberships

• Association of Cultural Enterprises

• Association of Independent Museums

• Creative UK

• English Civic Museums Network

• Museums Association

Conferences

Throughout the year, we attended the Annual National Conference of Visitor Attractions in October 2024, Museums Association Conference in November 2024, Creative Industries Growth Summit on January 25, and the Creative UK Investment for Growth conference on March 25. We attended the Association of Independent Museums conference in June 2024, where the Executive Director was invited to speak on a panel on Advocacy, discussing the role of politics and central government in museum support, what sector bodies are currently doing to advocate for museums, and how museums can utilise this time to advocate for themselves.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

International

UK Creative Community Fellows

A partnership with Derby Museums and the US-based NAS, the UK Creative Community Fellows is a nationwide programme supporting people who use arts and culture to create positive change in their communities. The Bowes Museum has joined this established programme, funded by Arts Council England, due to the Executive Director’s role in co-leading it with US partners since its inception. The Bowes Museum is well placed to support, as the NE has been identified as a cold spot for engagement in such programmes and the aforementioned Durham Creative Community Fellows is an addition to the international portfolio of Creative Community Fellows programmes.

Conferences

The Executive Director was invited to present at a ‘talk’ panel at the Nobel Centre talks in Stockholm in October 2024, to share her experience of bringing/testing/developing methods from other sectors into the arts and culture sectors.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

12. 2024-25 Key achievements

• Cafe Bowes won the Cafe of the Year Award at the Museum and Heritage Awards in April 2024. Nominated and shortlisted in 2025 for The Curiosity Project in the ‘Permanent Exhibition of the Year’ 2025 Museum and Heritage Awards category.

• In the 2025 Visit England Inspection, the Museum achieved an overall score of 95%, with 100% for the Cafe and 95% for Retail. Two nominations are underway for the National Visit England Gold Awards, specifically for the Welcome Award and the Quality Food and Drink Award.

• Total grant income secured 24/25 = £1,292,906.

• A new Accessible Tour has been launched with the support of a regional initiative called Everybody Welcome.

• This Unheard Voices programme, delivered with HMP Deerbolt in collaboration with Novus, won a 'Strengthening our Partnerships' award at the North East Prison Group Awards in March 2025.

• We have grown our volunteer community by over 50% to approximately 90 volunteers who regularly engage and support our activities at the Museum. Over the last 12 months, they have donated 4,979 hours of volunteer work, 50% more than in the previous year.

• This year’s Heritage Open Day was the most successful to date 1439 people attended the day, an increase of 23% from 2024.

• Co-production programmes continued with the launch of Be You at The Bowes’ first LGBTQIA+ trail of objects in the permanent galleries, engaging 22 local people, all with protected characteristics.

• Successfully launched the new Curiosity spaces – four galleries and three collection stores.

• Retention of membership (the percentage of members who accept the auto-renewal of their membership for a further year) was maintained at around 60%.

• Surpassed previous visitor numbers for the Heritage Open Days, Family Days and National Lottery Open Days.

• Over 25 store artworks have been exhibited as part of the museum’s Conversation Wall capsule collections.

• The Kith and Kinship Norman Cornish and Lowry exhibition welcomed 25,776 people, supporting a 22% increase in visitor footfall compared to the same period last year, and garnered positive comments and press coverage.

• From Joséphine Bowes: The Trendsetters and Trailblazers exhibition garnered online engagement with 343 million people who have read, seen, or heard about the exhibition across multiple platforms.

• The Bowes Museum successfully renewed its accredited status.

• Bowes' next Collaborative Doctoral Partnership application, in partnership with The National Gallery, was successful at the assessment panel.

• The MEND Project included resurfacing roads and parking bays, footpath improvements, accessible parking and entry to the Museum, the introduction of EV chargers, and the installation of low-level lighting in the car parks.

• The museum’s gas contracts were renegotiated, and together with electricity, we transitioned all our energy to 100% renewable, green sources.

• A successful recruitment drive for new Trustees was undertaken, targeting specialisms in the Heritage/Museum sector and Accountancy. Four new Trustees were inducted and joined the Museum in January 2025.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Achievements and performance (continued)

13. Supporters

We are grateful to all financial supporters of the Museum, which in the twelve months include, in alphabetical order:

AIM AIM Legacy Art Fund Art Fund - Reimagine Grant Arts Council England Catherine Cookson Foundation Christine Dipple Stay & Play DCCF Museum’s Grant Durham Business Growth Durham County Council Esme Fairburn FOTBM John Ellerman Trust John Horseman Trust MEND National Heritage Fund National Highways Fund Paul Mellon Grant Pilgrim Trust Tavlozza Foundation Wolfson

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THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic report (continued)

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Investment powers and restrictions

The Trustees may invest funds as they see fit, subject to any laws in place at the time.

Reserves policy

The Trustees have set a reserves policy which requires that:

• Reserves will be maintained at a level which ensures that the Bowes Museum’s core activity could continue during a period of unforeseen difficulty and the Museum is able to take advantage of strategic development opportunities;

• A proportion of reserves be maintained in a readily realisable form.

In setting the overall minimum level of reserves to be held of £770,000, the Trustees have established three levels of reserves to reflect the different risks it must respond to:

• The Museum will keep two months worth of total expenditure to cover any short term setbacks in funding or cash flow difficulties. This equates to £240,000;

• The Museum will set aside £100,000 to enable the charity to take advantage of strategic opportunities;

• The Museum will keep 50% of the annual income it assesses to be of high risk and 10% of the annual income it assesses to be of medium risk to cover the risk of significant changes in the environment in which it operates. This equates to £450,000.

The current level of free reserves is £286,604 (2024: £573,479). The Trustees intend that the Museum generates a surplus income each year of £100,000 so that the level of reserves set in its reserves policy builds further over time.

The reserves policy will be reviewed by Trustees annually when annual budgets are set to ensure the level of reserves in the policy are reasonable and that any budget surplus or deficit is set with regard to actual reserves and the reserves policy.

The Bowes Museum has a specific endowment fund, the John and Josephine Bowes Fund, of £1,637,468 (2024: £1,689,470). The trust has a requirement to retain the capital sum in the specific endowment fund and only spend the income to assist in covering the current expenditure (£36,452 income in the year to 31 March 2025 (2024: £45,220)).

In the long term the trust intends to add to the specific endowment fund. The fundraising committee is considering how best to achieve this alongside other fundraising priorities.

The Bowes Museum also has a Catalyst Endowment Fund of £2,008,151 (2024: £1,973,824). Donations to the Museum were matched funded by a grant from the Heritage Lottery Fund with the intention to provide future income for the Museum.

The two endowment funds made a combined unrealised loss of £24,258 during the year (2024: gain £32,876).

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THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

Governing document

The Charity is regulated by (1) a scheme made by the Charity Commission on 12 September 2014 and (2) a company limited by guarantee, The Bowes Museum Limited (Company Registration 03879872) established for charitable purposes only.

The Bowes Museum Limited is a charitable company limited by guarantee incorporated 18 November 1999. The Charity is governed by the memorandum and articles of association, last amended October 2014.

Recruitment and appointment of new Trustees

Each year, at the Annual General Meeting, one third of the Trustees retire and may seek re-election. New Trustees are appointed when vacancies become available. A Trustee’s skills matrix is maintained and the appointment process takes account of skills gaps.

Induction and training of new Trustees

New Trustees receive an induction to the Museum which consists of a file of governing documents, recent reports and minutes of meetings, and a familiarisation with the work of the Museum. External training for new Trustees in matters of governance is available.

Pay policy for senior staff

The Trustees consider the Senior Management Team to form the key management personnel of the Museum, in charge of directing and controlling, running and operating the Museum on a day to day basis. The pay of the senior staff is reviewed annually. In view of the nature of the Museum, the Trustees benchmark against pay levels in other similar Charities.

Organisational structure

The Trustees meet quarterly. Decisions at Trustees meetings are made by majority vote with the Chairman having the casting vote on split decisions.

The Board is supported by four sub-committees, Finance & Estates, Strategy & Development, Culture and Audience Development. The chairs of these together with the Chairman, constitute the Governance Committee, which meets regularly with the Director. Each sub-committee has its own Terms of Reference and their reports are a standing item for the full Board meetings. The Board also receives a report from the Director of the Museum.

The Trustees have delegated day to day management of the charity to the Director of the Museum who reports on performance against the Museum's strategic and operational plans. Financial reports are received quarterly by the Board.

Staff are involved in major decision making and policy formulation wherever possible. Staff briefings led by Directorate take place monthly, along with various internal working groups, staff team meetings and diary meetings.

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THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

Related party relationships

Durham County Council provides core funding for the Museum.

The Friends of The Bowes Museum exists to assist The Bowes Museum in meeting its objectives. The Friends were the largest overall contributor to the success of the Catalyst Endowment Fund reaching its target, and they have contributed annually to the Museum over a number of years.

During the year both the Barnard Castle Tennis Club and the Barnard Castle Bowling Club have continued to enjoy use of the facilities within the grounds of The Bowes Museum. Both clubs are well supported, and the use of the green and courts by members, visiting players, and the general public is extensive.

The trading subsidiary, Bowes Museum (Enterprises) Limited, operates the café, shop and function facilities of The Bowes Museum. The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Risk management

Trustees regularly analyse risks to the charity. Risks are mitigated by a well-advanced development planning programme, by close scrutiny of key performance indicators, and by early negotiation of funding with core funders.

Governance risks are offset by the fact that Trustees are recruited with the appropriate skill-sets. New Trustees receive induction which includes all relevant documentation, meetings with key staff, understanding of the collections and knowledge of the Museum's programme of exhibitions, events and activities. In addition, the full Board meet quarterly and there is a system of rotation.

Audit, remuneration and nominations sub-committees are in place to ensure organisational risks are managed appropriately.

Uniting direction

A uniting direction has been made under s96(5) of the Charities Act 1993 with respect to The Bowes Museum (charity no. 1079639-1). The financial statements for The Bowes Museum (charity no. 1079639) therefore also include the assets held by this charity.

A uniting direction has also been made with respect to the Heritage Lottery Fund & Department for Culture, Media and Sport Bowes Museum Catalyst Endowment Fund (charity no. 1079639-2) and the financial statements for The Bowes Museum (charity no. 1079639) include the assets held by this fund.

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THE BOWES MUSEUM (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.

Auditors

The auditors, Clive Owen LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

22-10-2025 UTC Approved by order of the members of the board of Trustees on ........................................................ and signed on their behalf by:

Signer ID: G594JDRIE8... Mr Peter Mothersill (Chair of Trustees)

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BOWES MUSEUM

Opinion

We have audited the financial statements of The Bowes Museum (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BOWES MUSEUM (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report and the Strategic Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report including the Strategic Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BOWES MUSEUM (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We undertake the following procedures to identify and respond to these risks of non-compliance:

• Understanding the key legal and regulatory frameworks that are applicable to the Group. We communicated identified laws and regulations throughout the audit team and remained alert to any indications on non-compliance throughout the audit. We determined the most significant of these to be around employment law, charity law, company law, health and safety law, food and hygiene and licencing regulations, taxation law and GDPR.

• Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

• Review of Board minutes and correspondence with regulators.

• Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how those risks are managed.

• Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.

• Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the financial statements. The further removed non-compliance with law and regulations is from the events and transactions reflected in the financial statement, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentation, or override of inter controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BOWES MUSEUM (CONTINUED)

Signer ID: IU2IYLBGPX...

Christopher Beaumont BA (Hons) BFP FCA DChA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants and Statutory Auditors

140 Coniscliffe Road

Darlington County Durham DL3 7RT

Date: 22-10-2025 UTC

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 6 Investments 7 Total income and endowments Expenditure on: Raising funds 8 Charitable activities Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net (expenditure)/income Transfers between funds 19 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Actuarial losses on defined benefit pension schemes 26 Net movement in funds	Unrestricted funds 2025 £ 348,645 381,547 2,029,759 35,094 2,795,045 1,206,237 1,909,073 3,115,310 (320,265) - (320,265) 140,264 (180,001) (20,000) (200,001)	Restricted funds 2025 £ - 918,334 - - 918,334 - 430,889 430,889 487,445 - 487,445 - 487,445 - 487,445	Endowment funds 2025 £ 1,330 - - 145,517 146,847 - - - 146,847 (24,258) 122,589 (140,264) (17,675) - (17,675)	Total funds 2025 £ 349,975 1,299,881 2,029,759 180,611 3,860,226 1,206,237 2,339,962 3,546,199 314,027 (24,258) 289,769 - 289,769 (20,000) 269,769	Total funds 2024 £ 397,378 1,628,494 2,104,314 182,029 4,312,215 1,144,350 2,161,703 3,306,053 1,006,162 32,876 1,039,038 - 1,039,038 (20,000) 1,019,038

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Note Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 7,112,609 (200,001) 6,912,608	Restricted funds 2025 £ 3,375,954 487,445 3,863,399	Endowment funds 2025 £ 3,663,294 (17,675) 3,645,619	Total funds 2025 £ 14,151,857 269,769 14,421,626	Total funds 2024 £ 13,132,819 1,019,038 14,151,857

Page 37

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THE BOWES MUSEUM (A Company Limited by Guarantee) REGISTERED NUMBER: 03879872

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note Fixed assets Tangible assets 13 Heritage assets 14 Investments 15 Current assets Stocks 16 Debtors 17 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets	63,905 769,980 439,998 1,273,883 (372,603)	2025 £ 1,517,140 8,805,504 3,197,702 13,520,346 901,280 14,421,626 14,421,626 14,421,626	66,191 904,603 628,146 1,598,940 (399,844)	2024 £ 483,953 8,805,504 3,663,304
				12,952,761 1,199,096
				14,151,857
				14,151,857
				14,151,857

Page 38

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee) REGISTERED NUMBER: 03879872

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

		2025	2025	2024
	Note	£		£
Charity funds
Endowment funds	19	3,645,619		3,663,294
Restricted funds	19	3,863,399		3,375,954
Unrestricted funds	19	6,912,608		7,112,609
Total funds		14,421,626		14,151,857

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on ................................................ and signed on their behalf by:22-10-2025 UTC

Signer ID: G594JDRIE8... Mr Peter Mothersill Chair

The notes on pages 43 to 72 form part of these financial statements.

Page 39

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee) REGISTERED NUMBER: 03879872

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note Fixed assets Tangible assets 13 Heritage assets 14 Investments 15 Current assets Debtors 17 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Endowment funds 19 Restricted funds 19 Unrestricted funds Unrestricted funds excluding pension asset 19 Total unrestricted funds 19 Total funds	820,030 415,711 1,235,741 (334,471) 6,912,608	2025 £ 1,517,140 8,805,504 3,197,712 13,520,356 901,270 14,421,626 14,421,626 14,421,626 3,645,619 3,863,399 6,912,608 14,421,626	1,301,116 249,047 1,550,163 (351,077) 7,112,609	2024 £ 483,953 8,805,504 3,663,314
				12,952,771 1,199,086
				14,151,857
				14,151,857
				14,151,857
				3,663,294 3,375,954 7,112,609
				14,151,857

Page 40

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee) REGISTERED NUMBER: 03879872

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

The Charity's net movement in funds for the year was £ 269,769 (2024 - £1,019,038) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 22-10-2025 UTC .................................................................. and signed on their behalf by:

Signer ID: G594JDRIE8...

Mr Peter Mothersill (Chair of Trustees)

The notes on pages 43 to 72 form part of these financial statements.

Page 41

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Endowment income Endowment expenditure Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 43 to 72 form part of these financial statements	2025 £ 777,902 (1,112,897) (1,112,897) 146,847 - 146,847 (188,148) 628,146 439,998	2024 £ 264,315 (423,313) (423,313) 152,007 (11) 151,996 (7,002) 635,148 628,146

Page 42

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Bowes Museum meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

1.2 Company status

The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.3 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 Museum to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date the financial statements are approved.

On the basis of the above the Trustees believe it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements. Whilst in the current environment there can never be any certainty over the level of profitability and continuing financial support, having made appropriate enquiries, the Trustees do not believe there to be any material uncertainty and they therefore believe it is appropriate to have prepared the financial statements on a going concern basis. No adjustments have been made to reflect any writedown or writeup of assets to net realisable value, to provide for any further liabilities which may arise or to reclassify fixed assets and long term liabilities as current assets and liabilities, as might be necessary were continuing financial support not be available or the sale of assets on a timely basis and the going concern basis found not to be valid.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Legacy income is recognised when receipt is probable and entitlement is established. Where a legacy is notified to the charity prior to the year end, it is recognised as income if it is received before the accounts are approved. Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated services and facilities:

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Redundancy costs are charged to the Consolidated Statement of Financial Activities in the year in which an irrevocable commitment is made to incur the costs and the main features of the restructuring plan have been announced to affected employees.

1.6 Government grants

Government grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred.

Page 44

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.8 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.9 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Fixtures and fittings	- 5% - 25% on cost
Office equipment	- 25% on cost
Computer equipment	- 25% on cost
Other fixed assets	- 25% on cost

1.10 Heritage assets

Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

1.11 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at market value at the Balance Sheet date. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.12 Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow-moving stocks.

Page 45

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THE BOWES MUSEUM (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.13 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.14 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.15 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.

1.16 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.17 Pensions

Retirement benefits to employees of the Group are provided by the Local Government Pension Scheme ("LGPS"). This is a defined benefit pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2022.

The LGPS is a funded multi-employer scheme and the assets are held separately from those of the Group in separate Trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date. The amounts charged to operating surplus are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of Financial Activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial gains and losses are recognised immediately in other recognised gains and losses.

The actuary has undertaken a valuation of the LGPS as at 31 March 2025 which shows an asset of £860,000. In accordance with 28.22 of FRS102 as the charity will not benefit from either reduced contribution rates in the future nor a refund from the scheme the asset is not recognised within these financial statements.

1.18 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent the permanent funds of the charity. All income generated by the funds are unrestricted and used for the purpose of the charity.

Investment income, gains and losses are allocated to the appropriate fund.

Page 47

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Critical accounting estimates and areas of judgement

In the application of the charity's and the group's accounting policies the Trustees are required to make judgments, estimates and assumptions about the carrying amounts of certain assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

These include the valuation of donated heritage assets which are based on advice from the Arts Council in the case of assets received via the organisation for example if received by HM Treasury in lieu of tax or on the estimate of the Museum's own curatorial staff in the case of smaller donations. Estimates also include the depreciation rate applied to the various categories of the various tangible fixed assets.

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 26, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Page 48

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from donations and legacies

Unrestricted funds 2025 £ Friends of the Bowes Museum 28,180 Donations 16,365 Core funding from DCC 304,100 348,645 Total 2024 357,378	Restricted funds 2025 £ - - - - 40,000	Endowment funds 2025 £ - 1,330 - 1,330 -	Total funds 2025 £ 28,180 17,695 304,100 349,975 397,378	Total funds 2024 £ 40,372 31,516 325,490 397,378

4. Income from charitable activities

Unrestricted funds 2025 £ Grants 374,572 Crowdfunding - Education income 6,975 Total 2025 381,547 Total 2024 399,906	Restricted funds 2025 £ 918,334 - - 918,334 1,228,588	Total funds 2025 £ 1,292,906 - 6,975 1,299,881 1,628,494	Total funds 2024 £ 1,604,400 24,767 (673) 1,628,494

Page 49

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Analysis of grants

Arts Council England Other Restricted grants Restricted grants: AIM – Young Volunteers Programme Arts Council England – MEND Arts Council England – Re-imagine Connected Communities DCC - Boiler DCC – Into the Light Partnership Derby Museums Esmee Fairburn Foyle Foundation Garfield Weston John Ellerman Foundation National Heritage National Highways The Wolfson Foundation Other < £10,000	2025 2024 £ £ 374,572 374,572 - 1,240 918,334 1,228,588 1,292,906 1,604,400 2025 2024 £ £ 16,750 - 292,402 584,804 44,990 - - 43,242 20,000 - 150,000 - 100,000 - - 46,836 - 65,000 - 40,000 40,392 27,051 124,880 146,342 100,000 - - 254,900 28,920 20,413 918,334 1,228,588

Page 50

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Income from other trading activities

Income from fundraising events

Unrestricted funds 2025 £ Entrance Income 579,744 Gift aid rebate 105,908 Sundry income 26,610 Exhibitions tax relief 111,538 Trading company income 1,205,959 Total 2025 2,029,759 Total 2024 2,104,314	Total funds 2025 £ 579,744 105,908 26,610 111,538 1,205,959 2,029,759 2,104,314	Total funds 2024 £ 434,091 68,463 18,199 638,415 945,146 2,104,314

7. Investment income

Unrestricted funds 2025 £ Deposit account interest 5,094 Dividends receivable on endowment funds - Pension income 30,000 35,094 Total 2024 30,022	Endowment funds 2025 £ - 145,517 - 145,517 152,007	Total funds 2025 £ 5,094 145,517 30,000 180,611 182,029	Total funds 2024 £ - 152,029 30,000 182,029

Page 51

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted funds 2025 £ Admissions 200,090 Total 2024 324,148 Trading expenses Unrestricted funds 2025 £ Trading company 519,371 Fundraising trading expenses - wages and salaries 442,846 Fundraising trading expenses - NI 26,049 Fundraising trading expenses - pension costs 17,881 1,006,147 Total 2024 820,202	Total funds 2025 £ 200,090 324,148 Total funds 2025 £ 519,371 442,846 26,049 17,881 1,006,147 820,202	Total funds 2024 £ 324,148
		Total funds 2024 £ 408,016 384,904 18,130 9,152 820,202

Page 52

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9.

Analysis of expenditure by charitable activities

Exhibitions Education Collections Total 2025 Total 2024	Direct costs 2025 £ 199,597 95,892 190,208 485,697 653,818	Support costs 2025 £ 757,900 364,116 732,249 1,854,265 1,507,885	Total funds 2025 £ 957,497 460,008 922,457 2,339,962 2,161,703	Total funds 2024 £ 1,273,884 408,698 479,121 2,161,703

Support costs directly attributable to an activity have been allocated to that activity. Where support costs cannot be directly attributed to any activity they have been allocated in proportion to direct expenditure.

Trading costs relate to total expenditure incurred attributed to admissions within the Museum.

In 2025, of the total expenditure, £3,115,310 (2024: £3,070,355) was to unrestricted funds, £Nil (2024: £11) was to endowment funds and £430,889 (2024: £235,687) was to restricted funds.

Page 53

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by charitable activities (continued)

Analysis of direct costs

Staff costs Rates and water Postage and stationery Sundries Staff services Public programme Conservation Total 2025	Total funds 2025 £ 268,508 28,404 10,482 2,929 53,286 102,072 20,016 485,697	Total funds 2024 £ 320,103 14,483 13,102 3,471 43,763 252,731 6,165 653,818

Analysis of support costs

Staff costs Depreciation Postage and stationery Sundries Insurance Light and heat Telephone Advertising Repairs and renewals Bank charges Auditors remuneration Legal and professional fees Bad debts written off Total 2025	Total funds 2025 £ 829,417 79,710 34,808 34,296 127,475 174,486 11,403 72,506 383,277 12,844 20,000 74,043 - 1,854,265	Total funds 2024 £ 626,943 19,641 20,286 25,670 94,507 192,025 8,133 37,000 369,782 2,769 17,500 96,950 (3,321) 1,507,885

Governance costs included above amount to £94,043 (2024: £114,450).

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Net income/expenditure

	2025	2024
	£	£
Depreciation of tangible fixed assets:
- owned by the Charity	79,710	19,641
Auditors' remuneration - audit	23,295	17,500
Auditors' remuneration - other services	-	-

11. Staff costs

Wages and salaries Social security costs Pension costs Other pension costs (note 26)	Group 2025 £ 1,583,170 126,262 65,359 10,000 1,784,791	Group 2024 £ 1,505,264 108,660 59,456 10,000 1,683,380	Charity 2025 £ 1,140,324 100,213 47,478 10,000 1,298,015	Charity 2024 £ 1,120,360 90,530 50,304 10,000 1,271,194

Other pension costs relate to the current and past service costs as detailed in note 26.

The average number of persons employed by the Charity during the year was as follows:

Charity Subsidiary	Group 2025 No. 49 33 82	Group 2024 No. 52 29
		81

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group	Group
		2025	2024
		No.	No.
In the band £80,001	- £90,000	-	1
In the band £90,001	- £100,000	1	-

Remuneration of key management personnel (including employer national insurance and employer pension contributions) was £291,445 (2024: £272,302).

Included within staff costs are redundancy payments totalling £Nil (2024: £30,582).

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Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, travel and subsistence expenses totalling £ 295 were reimbursed or paid directly to 1 Trustee (2024 - £1,000 to 1 Trustee) .

13. Tangible fixed assets

Group and Charity

Cost or valuation At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for the year On disposals At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Fixtures and fittings £ 1,732,423 1,055,424 (99,414) 2,688,433 1,273,962 63,649 (99,414) 1,238,197 1,450,236 458,461	Office equipment £ 19,159 4,193 (5,113) 18,239 19,159 369 (5,113) 14,415 3,824 -	Computer equipment £ 131,371 37,848 (90,387) 78,832 125,048 6,850 (90,387) 41,511 37,321 6,323	Other fixed assets £ 206,476 15,432 (51,377) 170,531 187,307 8,842 (51,377) 144,772 25,759 19,169	Total £ 2,089,429 1,112,897 (246,291) 2,956,035 1,605,476 79,710 (246,291) 1,438,895 1,517,140 483,953

Page 56

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Heritage assets

Group and Charity

Assets recognised at cost

Carrying value at 1 April 2024 Carrying value at 31 March 2025	Heritage assets 2025 £ 8,805,504
	8,805,504

The charity's heritage assets comprise the building and grounds together with the collection. The Museum building is a Grade I listed building and is located in a landscaped park listed as Grade II on the Register of Parks and Gardens of special historic interest in England. The grounds also contain a bowling green and tennis courts and entrance lodges. Nursery grounds and buildings are located to the north side of the park. The collection is made up of a diverse range of pictures, textiles, ceramics, metalwork, sculpture and items of historical interest based around the original collection of the founders John and Josephine Bowes.

Under the current Statement of Recommended Practice (SORP) and FRS 102 items purchased for the collection are capitalised and included at cost in the balance sheet. Items acquired prior to the 2005 SORP are not included in the financial statements.

The Museum maintains its collection for its historical and artistic value. Any valuation is completed within the confines of the requirements of the management and preservation of the collection and for no other purpose. In accordance with the provisions of both the SORP and the FRS, no value has been attributed to items acquired prior to the implementation of the SORP 2005 due to the lack of reliable information regarding cost or valuation.

Access to the collection is promoted through educational workshops, tours as well as through general admissions to the Museum. More information about the Museum's activities and collection can be found at the Museum's website.

Heritage assets report in the balance sheet during the last five years were as follows:

Analysis of heritage asset transactions

Group

Purchases Heritage assets Total additions	2025 £ - -	2024 £ - -	2023 £ 2,275 2,275	2022 £ 18,000 18,000	2021 £ 18,596
					18,596

Page 57

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Fixed asset investments

Group Cost or valuation At 1 April 2024 Disposals Revaluations At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 The listed investments relate to the following:	Listed investments £ 3,663,304 (447,917) (17,685) 3,197,702 3,197,702 3,663,304

82,685 shares in the COIF Charities Investment Fund. These investments are held by the Bowes Museum (charity no 1071630).

The historical cost of these investments at 31 March 2025 was £953,941 (2024: £953,941).

1,906,902 shares in the COIF Charities Property Fund. These investments are held by the Catalyst Endowment Fund (charity no 1079639-2).

The historical cost of these investments as 31 March 2025 was £2,312,183 (2024: £2,312,183).

Charity Cost or valuation At 1 April 2024 Disposals Revaluations At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Investments in subsidiary companies £ 10 - - 10 10 10	Listed investments £ 3,663,304 (447,917) (17,685) 3,197,702 3,197,702 3,663,304	Total £ 3,663,314 (447,917) (17,685) 3,197,712 3,197,712 3,663,314

Page 58

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Fixed asset investments (continued)

Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

	Name	Company	Aggregate of	Aggregate of	Aggregate of	share	share	share			Holding
		number	capital and reserves						Profit/(loss)
			£						£
	The Bowes Museum (Enterprises) Limited06864117		10						0		100%
	The financial results of the subsidiary for	the year were:
	Name				Income	Expenditure					Net assets
					£				£		£
	The Bowes Museum (Enterprises) Limited			1,205,959			(1,205,959)				10
16.	Stocks
									Group		Group
									2025		2024
									£		£
	Raw materials and consumables								63,905		66,191
17.	Debtors
			Group		Group				Charity		Charity
			2025		2024				2025		2024
			£			£			£		£
	Due within one year
	Trade debtors		71,507		29,727				67,970		26,130
	Amounts owed by group undertakings		-			-			66,497		402,175
	Other debtors		39,193		7,143				39,193		7,143
	Prepayments and accrued income	659,280			867,733				646,370		865,668
		769,980			904,603				820,030		1,301,116

Page 59

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Other creditors Accruals and deferred income Deferred Income Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods Deferred income at 31 March 2025	Group 2025 £ 181,475 30,652 6,463 154,013 372,603 Group 2025 £ 27,434 52,874 (27,434) 52,874	Group 2024 £ 94,527 51,908 4,788 248,621 399,844 Group 2024 £ 40,545 27,434 (40,545) 27,434	Charity 2025 £ 153,312 30,652 6,463 144,044 334,471 Charity 2025 £ 20,739 46,200 (20,739) 46,200	Charity 2024 £ 64,276 51,908 4,788 230,105 351,077 Charity 2024 £ 40,545 20,739 (40,545) 20,739

Page 60

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Legacies General funds General Pension reserve Total Unrestricted funds Endowment funds John & Josephine Bowes Catalyst Endowment Restricted funds Acquisitions & Conservation Pilgrim Trust Capital Improvement Association of Independent Museums John Ellerman Foundation	Balance at 1 April 2024 £ 20,000 7,092,609 - 7,092,609 7,112,609 1,689,470 1,973,824 3,663,294 2,328,706 - 359,346 38,219 22,093	Income £ - 2,765,045 30,000 2,795,045 2,795,045 36,452 110,395 146,847 - - 20,000 10,811 40,392	Expenditure £ - (3,105,310) (10,000) (3,115,310) (3,115,310) - - - - (5,925) (48,170) (49,030) (38,537)	Transfers in/out £ - 140,264 - 140,264 140,264 (36,452) (103,812) (140,264) - - - - -	Gains/ (Losses) £ - - (20,000) (20,000) (20,000) (52,002) 27,744 (24,258) - - - - -	Balance at 31 March 2025 £ 20,000 6,892,608 - 6,892,608 6,912,608 1,637,468 2,008,151 3,645,619 2,328,706 (5,925) 331,176 - 23,948

Page 61

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Statement of funds - current year (continued)

Esmée Fairburn Collections John Horseman Trust Christine Dipple Stay & Play DCCF ACE Programme Catherine Cookson Trust National Highways Fund National Heritage Lottery Fund Durham Business Growth Art Fund Going Places Association of Independent Museums Art Fund Reimagine Grant Tavolozza Foundation Wolfson Foundation Arts Council England MEND Journey to Accessibility Total of funds	Balance at 1 April 2024 £ 30,656 - - - - - - - - - - - - 596,934 3,375,954 14,151,857	Income £ - 7,000 2,000 250,000 3,000 100,000 124,880 9,920 2,000 5,939 44,990 5,000 - 292,402 918,334 3,860,226	Expenditure £ (30,656) (8,850) (2,000) (86,120) (586) (100,000) (2,042) (9,920) (2,000) (5,939) (6,389) (5,000) (25,000) (4,725) (430,889) (3,546,199)	Transfers in/out £ - - - - - - - - - - - - - - - -	Gains/ (Losses) £ - - - - - - - - - - - - - - - (44,258)	Balance at 31 March 2025 £ - (1,850) - 163,880 2,414 - 122,838 - - - 38,601 - (25,000) 884,611 3,863,399 14,421,626

Page 62

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Legacies General funds General Pension reserve Total Unrestricted funds Endowment funds John & Josephine Bowes Catalyst Endowment	Balance at 1 April 2023 £ 20,000 7,061,126 - 7,061,126 7,081,126 1,523,574 2,129,522 3,653,096	Income £ - 2,861,620 30,000 2,891,620 2,891,620 45,220 106,787 152,007	Expenditure £ - (3,060,355) (10,000) (3,070,355) (3,070,355) - (11) (11)	Transfers in/out £ - 230,218 - 230,218 230,218 (19,558) (155,116) (174,674)	Gains/ (Losses) £ - - (20,000) (20,000) (20,000) 140,234 (107,358) 32,876	Balance at 31 March 2024 £ 20,000
						7,092,609 - 7,092,609
						7,112,609
						1,689,470 1,973,824 3,663,294

Page 63

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Restricted funds Acquisitions & Conservation Education Capital Improvement Skills for the Future Total of funds	2,237,352 143,595 2,806 14,844 2,398,597 13,132,819	152,842 8,913 989,704 117,129 1,268,588 4,312,215	(152,842) (8,913) (47,770) (26,162) (235,687) (3,306,053)	91,354 (143,595) 11,540 (14,843) (55,544) -	- - - - - 12,876	2,328,706 - 956,280 90,968 3,375,954
						14,151,857

Page 64

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Unrestricted funds represent resources available for the general work of the charity.

The Pension Fund is a designated fund within unrestricted funds and represents the liability of the Museum under its defined benefit pension scheme, the details of which are set out in note 26.

Restricted funds relate to grants and donations for specific purposes:

Capital Improvements Fund - funding to enable the redevelopment of the reception, cafe and shop areas on the ground floor, new textile galleries and silver and metal galleries on the first floor and the installation of new service and passenger lifts. This funding compromises grants from the Heritage Lottery Fund itself with additional funding from other sources towards the same project.

The Pilgrim Trust is a grant to support the ‘Creating the Conditions’ project to redevelop visitor accessibility and experience, and care for the collections.

Acquisitions and Conservation fund - funding towards objects purchased and major conservation work to be undertaken.

The Association of Independent Museums (AIM) Connected Communities Grant is to fund working with young volunteers at the Museum.

The John Ellerman Foundation funds the development of co-production into curation at the Museum.

The Esmée Fairburn Collections Fund supports co-production with volunteers and groups.

The John Horseman Trust grant fundsed the ‘Unheard Voices’ project at HMP Deerbolt.

Christine Dipple’s donation supports the weekly Stay & Play sessions aimed at children up to 5 years old.

Durham Creative Community Fellows ACE Programme funds a collaborative programme between the Bowes Museum, National Arts Strategies in the USA, and Derby Museums featuring regional and international faculty, mentors and coaches to enable leadership development and community building.

The Catherine Cookson Charitable Trust grant was funding to purchase hearing loops for the Museum.

National Highways Fund grant funded the initial stages of the Towards Bowes 2092 Project.

The National Heritage Lottery Fund grant supports the next stage of the Towards Bowes 2092 Project.

Business Durham (Durham Business Growth) grant funded support from a marketing consultancy.

The Art Fund Going Places grant funded the development phase of a network partnership.

The Association of Independent Museums (AIM) second grant funded the legacy of the Young Volunteers programme.

The Art Fund Reimagine Grant is to support the co-production of the Josephine and John galleries.

The Tavolozza Foundation grant supported the From Josephine exhibition.

The Wolfson Foundation grant is to support the redevelopment of three founder galleries within the Museum.

The Arts Council England MEND Journey to Accessibility project funded the installation of the car park, lighting, roads, paving and footpaths in the Museum.

Page 65

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

The Catalyst Endowment Fund is an endowment fund whereby donations were matched by a grant from the Heritage Lottery Fund. The intention of the fund is to provide future income for the Museum.

The John and Josephine Bowes Endowment fund represents the original endowment left by the founders of the Museum.

Transfers between funds:

£140,264 has been transferred between Endowment Fund and general funds relating to unrestricted investment income.

20. Summary of funds

Summary of funds - current year

Designated funds General funds Endowment funds Restricted funds	Balance at 1 April 2024 £ 20,000 7,092,609 3,663,294 3,375,954 14,151,857	Income £ - 2,795,045 146,847 918,334 3,860,226 Income £ - 2,891,620 152,007 1,268,588 4,312,215	Expenditure £ - (3,115,310) - (430,889) (3,546,199) Expenditure £ - (3,070,355) (11) (235,687) (3,306,053)	Transfers in/out £ - 140,264 (140,264) - - Transfers in/out £ - 230,218 (174,674) (55,544) -	Gains/ (Losses) £ - (20,000) (24,258) - (44,258) Gains/ (Losses) £ - (20,000) 32,876 - 12,876	Balance at 31 March 2025 £ 20,000 6,892,608 3,645,619 3,863,399 14,421,626
						Balance at 31 March 2024 £ 20,000 7,092,609 3,663,294 3,375,954 14,151,857
Summary of funds - prior year
Designated funds General funds Endowment funds Restricted funds	Balance at 1 April 2023 £ 20,000 7,061,126 3,653,096 2,398,597 13,132,819

Page 66

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2025 £ Tangible fixed assets 149,207 Fixed asset investments - Heritage assets 6,476,797 Current assets 659,207 Creditors due within one year (372,603) Total 6,912,608	Restricted funds 2025 £ 1,367,933 - 2,328,707 166,759 - 3,863,399	Endowment funds 2025 £ - 3,197,702 - 447,917 - 3,645,619	Total funds 2025 £ 1,517,140 3,197,702 8,805,504 1,273,883 (372,603) 14,421,626

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year	Tangible fixed assets Fixed asset investments Heritage assets Current assets Creditors due within one year	Unrestricted funds 2024 £ 26,766 - 6,512,364 973,313 (399,834)	Restricted funds 2024 £ 457,187 - 2,293,140 625,627 -	Endowment funds 2024 £ - 3,663,304 - - (10)	Total funds 2024 £ 483,953 3,663,304 8,805,504 1,598,940 (399,844)
Other unallocated		(79,185)	(929,655)	(10,198)	(1,019,038)
Total					13,132,819 14,151,857
		7,033,424 7,112,609	2,446,299 3,375,954	3,653,096 3,663,294	13,132,819 14,151,857

Page 67

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges (Gains)/losses on investments Endowment income Decrease/(increase) in stocks Decrease/(increase) in debtors Increase in creditors Other finance income Costs attributable to Endowment Net cash provided by operating activities 23. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 24. Analysis of changes in net debt At 1 April 2024 £ Cash at bank and in hand 628,146 628,146	Group 2025 £ 289,769 79,710 17,685 (146,847) 2,286 134,623 420,676 (20,000) - 777,902 Group 2025 £ 439,998 439,998 Cash flows £ (188,148) (188,148)	Group 2024 £ 1,039,038 19,641 (32,876) (152,007) (17,883) (666,964) 95,355 (20,000) 11 264,315 Group 2024 £ 628,146 628,146 At 31 March 2025 £ 439,998 439,998

Page 68

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Capital commitments

	Group	Group	Charity	Charity
	2025	2024	2025	2024
	£	£	£	£
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets	-	836,955	-	836,955

26. Pension commitments

The Group operates a defined contribution pension scheme and a defined benefit pension scheme. Contributions are made to the defined benefit contribution scheme on behalf of its employees, the cost of these contributions being charged to the Statement of Financial Activities.

The latest actuarial valuation of the LGPS related to the period ended 31 March 2022.

The actuary has undertaken a valuation of the LGPS as at 31 March 2025 which shows an asset of £860,000 (2024: £680,000). In accordance with 28.22 of FRS102 as the charity will not benefit from either reduced contribution rates in the future nor a refund from the scheme the asset is not recognised within these financial statements.

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

	At 31 March	At 31 March
	2025	2024
	%	%
Discount rate	5.8	4.8
Future salary increases	3.5	3.6
Future pension increases	2.5	2.6
CPI inflation	2.5	2.6
Pension accounts revaluation rate	2.5	2.6

Sensitivity analysis

	At 31 March	At 31 March
	2025	2024
	£	£
Discount rate +0.1%	(10,000)	(10,000)
Discount rate -0.1%	10,000	10,000
Mortality assumption - 1 year increase	(10,000)	(10,000)
Mortality assumption - 1 year decrease	10,000	10,000
CPI rate +0.1%	10,000	10,000
CPI rate -0.1%	(10,000)	(10,000)

Page 69

Document ID: b36d09bdca2c6f379595ebf7e413b74c3599ad3601d0 9 028607875e8d c 71a533deb6bd990031bafce1ceac0582958338f3e2d47d5c4aa0ed8e76f2e15cf70c

THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

26. Pension commitments (continued)

The Group's share of the assets in the scheme was:

Equities Government bonds Corporate bonds Property Cash Other Multi Asset Credit Total fair value of assets	At 31 March 2025 £ 1,630,000 320,000 260,000 190,000 60,000 30,000 460,000 2,950,000	At 31 March 2024 £ 1,660,000 310,000 290,000 200,000 50,000 70,000 460,000
		3,040,000

The actual return on scheme assets was £860,000 (2024 - £680,000) .

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:

2025 £ Current service cost 10,000 Interest income (140,000) Interest cost 110,000 Total amount recognised in the Consolidated Statement of Financial Activities (20,000) Movements in the present value of the defined benefit obligation were as follows: Opening defined benefit obligation Current service cost Interest cost Actuarial gains Benefits paid Asset ceiling restriction Closing defined benefit obligation	2024 £ 10,000 (140,000) 110,000
	(20,000)
	2025 £ 2,880,000 10,000 110,000 (60,000) (150,000) -
	2,790,000

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

26. Pension commitments (continued)

Movements in the fair value of the Group's share of scheme assets were as follows:

Opening fair value of scheme assets Expected return on assets Actuarial losses Benefits paid Closing fair value of scheme assets	2025 £ 2,880,000 140,000 (80,000) (150,000)
	2,790,000

27. Operating lease commitments

At 31 March 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	Group 2025 £ 1,200 900 2,100	Group 2024 £ 1,200 2,100 3,300	Charity 2025 £ 1,200 900 2,100	Charity 2024 £ 1,200 2,100
				3,300

28. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

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THE BOWES MUSEUM

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

29. Related party transactions

The Friends of Bowes Museum is a connected charity as it exists to assist The Bowes Museum in its objectives. During the year The Friends of Bowes Museum made donations to The Bowes Museum as shown in note 2. At the year end £724 (2024: £394) was due to the Museum from The Friends of Bowes Museum.

Durham County Council provides core funding for the museum as shown in note 3.

P D A Mothersill is a Trustee of Barnard Castle School. During the year sales of £55 (2024: £180) were made for a Museum visit. At the year end £Nil (2024: £180) was due to the Museum for Barnard Castle School.

Councillor E Scott is a Director of Visit County Durham. During the year purchases of £4,440 (2024: £Nil) were made. At the year end £288 (2024: £Nil) was due from the Museum.

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

30. Charges

Heritage Memorial Fund. This charge is dated 24 March 2009 and is a condition of the National Lottery grant funding of the Museum's capital works programme.

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