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 s￿la11 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