The Elias Ashmole Trust A Company Limited by Guarantee Registered Charity Number: 1083867 Company Number: 04087719 Report and Unaudited Accounts for the year ended 31st July 2024 Wenn Townsend Chartered Accountants Oxford
The Elias Ashmole Trust Reference and administrative information for the year ended 31st July 2024 Trustees: Dr A J Sturgis Lady Carrington (resigned 31 August 2024) Mrs C Laing Mrs N Walton (resigned 31 August 2024) Mrs V Emmett Mr M Chambers Ms Kathryn Uhde (appointed 30 November 2023) Dr Y Etgar (appointed 17 September 20241 Secretary: Mrs N O'Farrell Registered office: The Ashmolean Museum Beaumont Street Oxford OX1 2PH Company registration number: 04087719 Charity registration number: 1083867 Accountsnts: Wenn Townsend Chartered Accountants 30 St Giles OxTord OX1 3LE Bankers: Barclays Bank Oxford
The Elias Ashmole Trust Report of the Trustees (continued) for the year ended 31st July 2024 The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the financial statements for the year ended 31 st July 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice attplicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliceble in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. Reference and administration information As detailed on page 1. structure Governance and Mana ement The charitable company was incorporated on 11th October 2000 and has adopted Memorandum and Articles in place of a Trust Deed. The Charity's objects are to support and assistthe Ashmolean Museum and in furtherance thereofto engage in such charitable activities as may enrich the collections of the Museum or otherwise enhance its usefulness as an institution for teaching, research and public enjoyment connected with art and antiquily. The Elias Ashmole Trust is governed by a body of 4 to 10 individuals who are members of the charity and who constitute directors for the purpose of company legislation and trustees for the purposes of charity legislation. The Trust meets approximately three times a year to consider reports from the Director and Management Team and reviews membership policies. Furthermore, the Trust advises the Museum on membership fundraising and activitie.s and oversees the proposals from The Ashmolean Collective Group previously called the Tradescant Patrons Advisory Committee and the Elias Ashmole Group Committee. The role ofthe Trust is non-executive and voluntary. The Trust may, at any time, appoint a new trustee and sanctions the directors, appointment of new trustees. The aim is to achieve a balance of skills and experience in the Trust relevant to the objectives of the charity. Achievements and Performance During the year grants totalling £160,000 were donated to the Museum by the Trust. The Elias Ashmole Grou Current Membership.. 60 members Patrons Events throughout the year.. Patrona private tour of Colour Revolution.. Victorian Art, Fashion & Design Patrons private tour of Fang LiJL¢n'. Portraits and Porcelain Patrons private tour of contemporary artworks.. Flora Yukhnovich & Daniel Crews-chubb Patrons private tour of Kabuki Kimono.. Costumes of Bando Tamasaburo V Annual Gala Dinner 2024 Spring Trip- Munich Patrons private tour of a FilipinoHBritish artist, Pio Abad Patrons private tour of Bruegel to Rubens.. Great Flemish Drawing Event held at Italian Embassy in London to highlight Western Art and the campaign to save the Fra Angelico for the nation
The Elias Ashmole Trust Roport of the Trustees (coiilÉnued) for the year ended 31st July 2024 The Ashmolean Collective Grou Current Membership.. 44 memberships Financial Review Revenue for the yearwas £181,436 {2023'. £170,345). Resarves at 31 st July 2024 %tood at £134,158 {31st July 2023.. £135,617). This is the total for the Elias Ashmole Group and Ashmolean Collective Gi'oup combined. The Trustees aim to Inairitain a level of unrestricted reserves sufficienl to meet any un-budgeled running expenditure. The Elias Ashmole Group's reserves levels are kept at a minimum of £5,000 and the Ashmolean Collective Group's reserves are kept at a minimum of £3,000. Public Benefit The trustees have paid due regard to the Charity Commission's guidance on public benefit. The Elias Ashmole Trust have made a generous financial contribution, during the 2023124 financial year, and supported some of the Museums extraordinary exhibitions,. Money Talks - Art and Currency, Anselm Kiefer.. Early Works, Ashmolean Now and Wilton Diptych in Oxford. The Ashmolean Museum is free at the point of entry and available lo all. The Elias Ashmole Trust's role is to support the Museum and its visitors. Small com an exem tions Advantage has been taken in the preporation of this report of special exewiPtIGns applicable to small companies. This report was approved by the Board on . .(./. ow.... 2025 and signed on its behalf by: Dr A J Sturgis
The Elias Ashmole Trust Independent Examiner's Report to the Trustees of The Elias Ashmole Trust I report to the charily trustee8 on my examination of the accounts of the company for the year ended 31 st July 2024 which are set out on pages 5 to 8. Responsibilities and basis of report As the trustees ofthe company"{and also it5 directors for the purposes of company lawl y.ou are responsible for the preparation OT the accoLirits in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Havirig sa(isfied myself tbat Ilie accounl's of the company are not rpquired to be aiidited under Part-16 of the 2006 Act and" are eligible. for, indeprandent examination, I report in resppct of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act,). In cai-rying out my examination l_have followed the Directions given by the Charity Commission under section 14515)Ibl of the ?011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respec.t of the company as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination., or the accounts have not r)een prapared in accordance with the methods and principles of tkie Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance witil the Financial Reporting Standard applicable in the UK and Republi OT Ireland IFRS 102) I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. A C Rodzynski FCA Partner Wenn Townsend 30 St Giles Oxford OX13LE 2025
The Elias Ashmole Tyust Statement of Financial Activities for the year ended 31st July 2024 Unrestricted Funds 2024 2023 Income Income from charitable aclivities.. Subscriptions and donations Tax recoverable Event income Income from investments 153,486 21,538 4,990 1,422 124,881 18,425 26,815 224 Total income £ 181,436 £ 170,34) Expenditure Cliaritable activities.. Cost of events Grants Governance costs 21,473 160,000 1,422 19,734 111,500 1,449 Totsl expenditure £ 182,895 £ 132,683 Net income l (expenditure) 11,4591 37,662 Total funds brought fonvard 135,617 97,955 Total funds carried forward ,£ 134,158 £ 135,617 The accounts of the Ashmolean Collective Group have been incorporated in these accounts.
The Elias Ashmole Trust Balance Sheet 31st July 2024 Note Current assets 2024 2023 Cash at bank Debtors- Gift Aid 113,810 21,348 120,411 18,388 135,158 138,799 Current liabilities Creditors and accruals {1,000) 13, 182) Net assets 134,158 135,617 Represented by: Unrestricted fL¢nds 134,158. 135,617 Members. funds 134,158 135,617 For the year ending 31 st July 2024 the company was entitled to exemption fi om audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in 3ccordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accountinq records and the preparation of accounts. These financial statements are prepared in accordance with the provisions applicable to companies subject to the sla11 companies, regime, and the Financial Reporting Standardov applicable in the UK and Republi of Ireland IFRS 102}. The financial statements were approved by the Trustees on behalf by 2025 and signed on their Dr A J Sturgis Registered Charity Number: 1083867 Company Nuinber: 04087719
Tlle Elias Ashmole Trust Notes to the Accounts for the year ended 31st July 2024 Accounting policies Basis of accounting The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, Accounting and reporting by charities.. Statement of Recommeiided Practice applicable to harities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) letrective 1st January 2019) (Charity SORP FRS 102) and the Financial Reporting Standard applicable in 4he UK and Republic of Ireland (FRS 102). The Elias Ashmole Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilitios are initially recogniscd at historical Cost or transaction value unless otheNise ststed in tha relevant accounting polityies note. The Truetees considei- there to be no uncertainties with regard to the charity continuing as a going concern and that the Charity will be able to operate for at le.ast 12 months from the date of the signature of the accoLints. ThesA are confident that subscriptions from donors, though perhaps reduced, will be sufficient to meet.the modest administrative costs of Ihe charity and also continue making grants to the Ashmolean Museum. Income recognition All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and it is probable that the income will be received. Subscripb'ons are recognised as income when received by the charity. Volunteer time A significant contribution is made by members. I'he value of these donated services is not reflected in the account.s. Grants Grants are accounted for when approved by the Trustees. Expenditure recognition All expenditure is accounted for on an accruals basis (inclusive of VAT wfiich 15 irrecoverable) and has been classified undÈr, headings tliat aggre9ate all costs related lo that category. Liabilities are recognised as expenditure as soon as Ihere is a legal or constructive obligation committing the charity to the expenditure, it is probable that sAttlement will be required and the amount of the obligation can be measured reliably. Governance costs are those costs incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Fund accounting Llnrestricted fuiids These funds are to be used at the discretion of the trustees in furtherance of ihe charity'¥ objects. The charity has no restricted funds. Restricted funds Trustees and employees The trustees did not receive any remuneration or other benefit for their services in the year {2023.' £Nil), neither were they reimbursed for expenses incurred on the charity's belialf12023'. £Nil). No sums were expended on any trustee indemnity insurance. There were no employees.
The Elias Ashmole Trust Notes to the Accounts for the yeai. ended 31st July 2024 Net (expenditure)lintome This is stated after charging.. 2024 2023 Grants to the Ashmolean Museum Iiidependeni examiner's remuneration £ 160,000 1,000 £ 111,500 902 Debtoys 2024 2023 Gift Aid recovprable 21,348 18,388 £ 21,348 £ 18,388 Creditors- amounts falling due withiii one year 2024 2023 Accruals Grants payable Trade creditors 1,000 860 1,500 822 1,000 £ 3,182 Compaiiy status The charity is a company limited by guarantee and incorporated in England. Every member of the company is liable to conlribute up to £1 in the case of windiiig up while a member, or within one year after ceasing to be a member. Related party transartions The charity received L15,000 (2023: £9,992) in subscription income from the trustees in the year.
Wenn Townsend Journals Elias Ashmole Trust yle 31st July2024 Surplus -£2,859 P&L BS Draft surplu.s/ldef icitl.. DR CR DR CR i) DR Accruals Accruals Trade Creditors £0 822.00 | Recategorise the Reversal YE2022 iVTin trade creditors £822 and2023 wfaccruals £860 £0 860.00 1,682.00 DR Gove¥nance & Admin CR Accruals £0 Adjust YE2024 Independent Examlnation Fee accural loo.00 31 Bank Interest / Other Income DR Governance &Admin -£13 CR Bank ChaTges and Loyalty rewards £34,051 TDR Bank Charges and Loyalty rewards -£34,233 Correctallocation of interestand bank charges 195.00 13.00 34,051.44 34,233.44 41, CR Grants Grants payable Reverse grantpayable 23 for supportfor Greek lessons for Drshapland £1,500 1,500.00 1,500.00 Final surplus/ldeficitl: -£1,459 Signed: Date., 207