**Registered number: 04178505 Charity number: 1085853**
**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## THE ROALD DAHL MUSEUM AND STORY CENTRE
## (A Company Limited by Guarantee)
## **CONTENTS**
||**Pages**|
|---|---|
|Reference and Administrative Details of the Charity and its Trustees|3 - 4|
|Trustees' Report|5 - 16|
|Independent Auditors Report on the Financial Statements|17 - 19|
|Consolidated Statement of Financial Activities|20|
|Consolidated Balance Sheet|21 - 22|
|Charity Balance Sheet|23 - 24|
|Consolidated Statement of Cash Flows|25|
|Notes to the Financial Statements|26 - 42|
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## THE ROALD DAHL MUSEUM AND STORY CENTRE
## (A Company Limited by Guarantee)
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. As set out in the Articles of Association the Chair of the Trustees is appointed by the Trustees. The Articles of Association set out the terms of service for Trustees, which are typically two three-year terms, with a third three-year term possible for any Trustee if necessary and agreed by the Board to provide stability in governance.
## Trustees:
1. Isobel Hunter*, Chair (from 02/02/2023)
2. Paul Griffiths*, Chair of Finance Committee, Vice Chair (from 02/02/2023)
3. Anna Vaughan
4. Anna Tomlinson
5. Lynda Heavey*
6. Sushma Jansari
7. Anna Renton
8. Chriscilla Philogene (Appointed 18 March 2024)
9. Louise Doughty (Appointed 18 March 2024)
10. Sarah Realmuto (Appointed 18 March 2024)
11. Anthony Newton (Appointed 01 December 2023)
12. Tom MacAndrew (Appointed 01 December 2023)
13. Anna Cohn Orchard (Appointed 01 December 2023)
14. Michael Murray-Fennell (Appointed 01 December 2023)
*Denotes that a Trustee is also a director of the charity’s wholly owned subsidiary, The Roald Dahl Centre (Trading) Limited. Wesley Salton and Amy Pitts (resigned 23 May 2023), as directors of Roald Dahl Centre (Trading) Ltd., attended Museum Board meetings, contributed to discussions but had no voting rights.
## **Company registered number** : 04178505
**Charity registered number** : 1085853
**Registered office** : 81-83 High Street Great Missenden Buckinghamshire HP16 OAL
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THE ROALD DAHL MUSEUM AND STORY CENTRE
## (A Company Limited by Guarantee)
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **Museum management team**
Museum Director, Steve Gardam Collections Manager, William Phillips Learning Manager, Natalie Wallace Finance Manager, Nicola Higgs Retail and Visitor Experience Manager, Rebecca Short Marketing & Design Manager, Kimberley Osborne Governance & Projects Manager, Emma Bedlow
## **Independent auditor**
SCB (Accountants) Ltd Chartered Accountants 31 Sackville Street Manchester M1 3LZ
## **Bankers**
Lloyds Bank 27-31 White Hart Street High Wycombe Buckinghamshire HP11 2HL
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THE ROALD DAHL MUSEUM AND STORY CENTRE
(A Company Limited by Guarantee)
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2023 to 31 March 2024. 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 companies 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.
## 1. **Objectives and activities**
## **a. Objects of the Charity**
The objects of the Roald Dahl Museum and Story Centre charity are ‘ **to further the education of the public in the art of literature and creativity by the provision and maintenance of a museum and literature centre based on the works of Roald Dahl’.**
To achieve this, the charity has powers that include (but are not limited to) the following:
- Organise, preserve and provide suitable accommodation for the literary archives of Roald Dahl and related items and materials;
- To buy, take on lease, share, hire or otherwise acquire property of any sort;
- To construct, alter, provide, manage, maintain, furnish and fit with all the necessary furniture and other equipment any buildings and any other premises or structures or land.
The Museum galleries reveal unexpected details from the life of a world-renowned writer which influenced the creation of their famous works, through which we help our visitors explore a compelling example of the creative process.
The heart of the Museum is the preserved interior of Roald Dahl's Writing Hut, full of curios and clues to how Dahl found his inspiration and turned this into bestselling book. This is complemented by displays featuring pieces from the Roald Dahl Archive, a fascinating record of how beloved works of popular literature were crafted over time. Throughout its public spaces, the Museum provides numerous interactive displays that encourage visitors to dream up new characters, make an animated movie, match drawings to description, and more besides.
Although our current galleries have served very well for almost two decades in delivering our charitable purpose, as a visitor venue, the accessibility and quality of visitor experience – already high – needs to rise further, and this demands capital investment. We recognise that our approach needs to evolve, to centre even more firmly on the experience of our visitors and their own creativity, for which Dahl’s creative craft is a guide. Throughout 2023-24 we continued to work hard on developing plans for capital works to support long term sustainability for the charity.
## **b. Purpose and Strategic Aims**
Since 2016 we have used the following statement of purpose, as an everyday interpretation of our charitable objects that supports the development of strategic goals. Our purpose is that:
## **Everyone who experiences the Roald Dahl Museum and Story Centre understands how the work of Roald Dahl can be a key to unlock the stories we all have inside.**
Since 2016, we have taken this concept of 'unlocking stories'- unpacking Roald Dahl's creative process as an enabling example - and used it to completely overhaul our school provision, earning a Sandford Award for heritage education in 2018 and again in 2023. Our vision is simply: Everyone is a Storymaker. We believe making stories makes us more human, and the enabling example of Roald Dahl's creative craft can help more people better understand how to make and shape stories of their own.
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## **THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
As part of a new Forward Plan for 2023-28, we reviewed and agreed these strategic aims and objectives in October 2022 and they remained current during 2023-24:
|**Aim 1:**
**Show how the creativity of**
**Roald Dahl can be a key to**
**unlock the stories we all**
**have inside**|**a.**Designing and delivering major capital regeneration of the Museum
site to showcase Dahl's creative process and the creativity of our
audiences.
**b.**Designing and improving our Museum site with playful, social, and
inclusive experiences that seek to do the most, for the most.
**c.**Using the Museum's collection and location to show through all our
work how creativity can be an everyday practice that also supports
wellbeing (Notice, Connect. Be Active, Keep Leaming, Give),|
|---|---|
|**Aim 2:**
**Spark shared story making**
**to teach a wider range of**
**audiences**|a.Designing
and
delivering
social,
playful,
intergenerational
experiences in our public offer activity at the Museum, that seek to
do the most, for the most people.
b.Designing and delivering targeted palladation projects for schools in
areas of limited cultural opportunity that Include the wider school
community (local area and students' families)
c.Understanding and tackling the barriers to being a more WIDE
Museum (welcoming, inclusive, diverse, equitable) by working with
experts who reflect protected characteristics in our audience.
d.Building our own reputation as a WIDE Museum through cultivating
partnerships and sharing our own story within and beyond our sector.
e.Using digital to reach more people within and beyond the Museum
site.|
|**Aim 3:**
**Increase our own**
**resilience and**
**sustainability to better**
**serve our public**|a.Developing
a
robust
public
position
acknowledging
and
constructively responding to Roald Dahl's antisemitism.
b.Ensuring that we have reduced our contribution to climate change
and mitigated the environmental risks facing our Museum (flood,
energy use).
c.Supporting the personal wellbeing of our staff alongside their
ongoing professional development.
d.Planning and investing for the long term, making the most of the
opportunity from Fantastic Peach Foundation funding.|
## **c. Public Benefit statement**
The Museum Trustees have had regard to the Charity Commission's guidance on public benefit.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **2. Structure, governance, and management**
## **a. Constitution**
The Roald Dahl Museum and Story Centre is a company limited by guarantee and not having a share capital: company number 4178505. It is also a registered charity governed by its Memorandum and Articles of Association: charity number 1085853. The Trustees are the directors and members of the charity. The charity has a trading company, Roald Dahl Centre (Trading) Limited ('Trading'), to deal with the non-primary purpose trading activities. Trading is a wholly owned subsidiary, and the attached financial statements consolidate the results of the subsidiary.
## **b. Organisational structure and decision making**
During the year April 2023 to March 2024 there were four ordinary Board meetings. These meetings are the principal way in which the Trustees govern the work of the charity. There was also an ‘awayday’ held at the Museum in June 2023 focused on the major capital project opportunity. There was also an extra Board meeting held online on 15 June 2023 to review and approve the Museum’s anti-racism statement. There were several committee or project group meetings, with the Annual General Meeting taking place in October. Throughout 2023-24 meetings of the main Museum Charity Board incorporated Roald Dahl Centre (Trading) Ltd business.
Board meetings were held in person at the Museum in April, June and October 2023, and February 2024; this was based on a desire by Trustees to meet in person at the Museum as often as possible, ending a hybrid period of on-site/online Board meetings in the years immediately following the COVID pandemic. Nonetheless, committee/project group work typically took place online to help manage the time commitment Trustees.
Typically, a detailed report on the period following the previous Board meeting is submitted in advance to the Board prior to a main meeting, supporting an agenda agreed by the Chair. Alongside the main report, the Director and staff present strategy and policy documents at Board meetings, which are discussed by the Board and either accepted or revised as agreed, allowing staff to take delegated action. If necessary, papers may be circulated on an issue between Board meetings, to inform the Board or request a Board decision which may be needed before the next scheduled meeting.
The day-to-day running of the Museum is managed by the Museum Director and the staff. The pay for the Museum’s staff is determined using market indicators and reviewed when recruiting new members to the team, to ensure it is comparable to similar organisations in the sector and in line with people at the same level in the organisation. The Museum does not operate a Performance Related Pay system.
An annual cost of living increase is determined by the Finance Committee before being approved by the wider Trustee board during the annual budgeting process and if applicable, typically paid to staff in July. A 5% award was paid in April 2023. However, due to the Museum’s financial performance at the time, and Trustees’ desire to control costs, the pay awards made were less than the prevailing rate of inflation.
The two standing committees of the Board during 2023-24 were the Finance Committee, and the Governance Committee. The Finance Committee met three times in 2023-24, within the annual financial planning cycle. The Governance Committee formally met twice, with considerable committee business conducted by email and additional video calls in summer and autumn 2023 to manage the recruitment of new Trustees.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **c. Appointment of and support for Board members**
Board member recruitment in autumn-winter 2023-24 saw seven new members join the Board. This reflected the high quality and deep field of 40 (forty) applicants, and the knowledge that some long-serving Trustees are entering their final term. It requires an amendment to the Articles to increase the maximum Board membership from 12 (twelve) to accommodate a higher number of Trustees.
Four new Trustees joined the Board following the October 2023 Board meeting, and a further three joined after the February 2024 Board meeting, to stagger the intake. All took part in an in-depth induction day on 31 January 2024; this was acknowledged as very welcome and thorough by several comments in the annual Board member review which took place in March 2024.
## **d. Related Parties**
The charity has taken advantage of the exemption in FRS102 from disclosing transactions with its subsidiary as consolidated financial statements are prepared.
## **e. Risk management**
The Trustees have taken care to address the main financial, operational and health and safety risks facing the charity. Operational risk assessments are created for new activity and maintained and annually reviewed for existing activity. This approach is articulated in a written Risk Management policy which is reviewed annually as part of the rolling review of all Museum policies by the Board of Trustees.
In December 2021 an external Health & Safety audit by the Bishop Simon consultancy found that the Museum was a low risk and broadly compliant operational environment. Bishop Simon’s report noted:
_“The most impressive findings are: 1) the training matrix which identifies the requirements for staff at every level of the organisation, plus the training log created for each member of staff; and 2) the existence of risk assessments for activities and higher risk work areas (relative to other internal activities). RDMSC is described as a low-risk organisation, relative to organisations that belong to high-hazard industries, for example, agriculture and construction.”_
Strategic risks i.e. non-operational risks are those which are considered enduring: risk scores may be assessed as higher or lower at any given moment, but the risk remains due to the nature of Museum charity and stays on the register as a reminder to actively maintain Board oversight of mitigations. Therefore, high scores for strategic risks do not necessarily indicate a ‘live’ crisis. Strategic risk score recommendations by Management are warnings to take action to avoid a potential crisis. The Strategic Risk Register is updated by Management and reviewed by Trustees at all general Board meetings as a standing agenda item.
The current format of strategic risk register uses the Association of Independent Museums ‘Hallmarks’ to categorise strategic risks i.e. if achieving a hallmark represents best strategic practice, then a strategic risk can be defined as the opposite of that practice.
Enduring strategic risk areas include purpose, finance, leadership and culture, networks and awareness, visitor focus, collections care, governance practice, innovation and risk, and tackling inequality. A strategic financial risk is expressed as ‘not achieving budgeted income targets.’ A strategic risk adversely affecting leadership and culture is: ‘key personnel leaving at critical juncture of work’. A strategic risk in relation to purpose is expressed simply as: ‘The Museum does not have or make use of a clear statement of purpose’.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **3. Achievement and performance 2023-24**
Our main success measures are typically Museum visitor numbers, both as general visitors and for our school programme – the number of people we impact as a charity through their visit to the Museum, and, also, the source of much of our operating income. We seek to book school and public workshops as close to capacity as possible, and increase this capacity where we can, based on the evidence of demand. To remain viable as a charitable company, we closely monitor our income and costs to generate and analyse the data from which further efficiencies may be found.
The story of 2023-24 continues the curve of recovery from mid-2021 when we reopened following the COVID pandemic mandated closures. Recovery goes beyond day-to-day excellence, and 2023-24 saw several new initiatives which lay foundations for future growth and impact.
## **a. The ups and downs of further recovery**
## **Visitor numbers and the magic of movies**
The previous year, 2022-23 had seen marked growth on the 2021-22 year, with combined school and visitor numbers ahead of budget and +44% up on the previous year, at circa 50,000 visitors. This was against a backdrop of extreme inflation affecting the cost of living and potential visitors’ disposable income, particularly biting in autumn 2022 when numbers were consistently below even modest budgets during term time weekends.
However, the success of _Roald Dahl’s Matilda the Musical_ in cinemas from Christmas 2022 saw a noticeable strengthening of visitation in the early months of 2023. The Museum is rarely able to be directly involved in Roald Dahl movie publicity, and Roald Dahl movie events in themselves are rare. However, the impact of wider Dahl awareness created by movie events is perceptible at the Museum.
This pattern continued in 2023-24. By March 2024, the Museum had welcomed 59,122 combined general and school visitors, +19% on the previous year, from a cautious budget baseline. Holiday periods were strong for general visitation, positively affected by inclement weather at Easter, May and during the summer in 2023. Indeed, several holiday periods were comparable with levels of visitation prior to the pandemic: over 12,500 people visited during the 2023 summer season, a shade higher than the equivalent period in 2019.
|**Year**|**Combined**
**Museum**
**visitors**
**(general + schools)**|**+/- change on previous year**|
|---|---|---|
|**2021-22**|34,210
_NB Museum legally unable to_
_open under COVID restrictions_
_until end May_
_2021._|+2088%
_NB Only 1563 visitors in 2020-21_
_during brief periods of limited_
_capacity opening_
_during COVID pandemic_|
|**2022-23**|49,444|+44%|
|**2023-24**|59,122|+19%|
However, it was noticeable across the year that general visitor numbers remained markedly lower compared to pre-pandemic levels during term time weekends. Indeed, just as in 2022, autumn visitation outside of the school holidays was typically below even the cautious budget forecast for 2023, not including the busy October half term holiday.
Again, just as in 2022, at the turn of the calendar year the Museum was fortunate to benefit from the halo effect of a Roald Dahl movie event. The Warner Bros. production of _Wonka_ proved a popular smash and coincided with, and likely indirectly supported above-budget visitation in most weeks of the final quarter in 2023-24. Also in March, the Museum received a modest piece of direct publicity in relation to director Wes Anderson’s 2023 Academy Award for best motion picture short. The production team from Anderson’s idiosyncratic adaptation of _The Wonderful Story of Henry Sugar_ worked with the Museum back in 2021 to
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**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
use Dahl’s preserved Writing Hut and its contents as detailed reference for creating a matching set for the film project.
Anderson’s success with _Henry Sugar_ is notable as this is the first high profile Roald Dahl adaptation to be released by Netflix. Netflix acquired the rights to Roald Dahl’s stories in 2021. Clearly the Museum benefits from well-received Roald Dahl screen content. Whilst we cannot directly influence this, or rely upon it happening at convenient moments, we are encouraged by a future in which increasing amounts of Netflix Roald Dahl content will be released. Taking opportunities to support Netflix and other Roald Dahl Story Company creatives is a conscious strategic choice to leverage more visibility for the Museum and our work. Awards and programming.
We take part in the Visitor Attraction Quality Assurance Scheme (VAQAS) run by Visit England, receiving an external expert review each year: in the 2023 review we received a score of 94% and an award for ‘Best Told Story’, remaining firmly in the higher tiers of visitor experience. In 2023, we were also recognised as having the ‘Best School Visit’ at the School Travel Awards in 2023, ahead of other major organisations including Bletchley Park Trust and Imperial War Museums. We also earned our second successive Sandford Award, a prestigious quality mark for the excellence of our educational provision.
We experimented with new programming, including a weekend in which we hosted Waterperry Opera’s production of _Roald Dahl’s Revolting Rhymes_ to kick off our ‘Big Friendly Summer’ in 2023. This was logistically complex, providing valuable experience and stretch to our staff, and included a ‘relaxed’ performance with British Sign Language translation to widen our offer to visitors with additional needs.
## **‘Glittering Eyes’ initiative**
We delivered the first pilot project for ‘Glittering Eyes’, our new outreach scheme aiming to increase cultural opportunity in the areas of Buckinghamshire where this is most challenged. The essence of the project is to encourage creativity by helping participants find inspiration wherever they are, by looking at their world – in Dahl’s wonderful phrase – ‘with glittering eyes’.
We worked with children and teachers from Waterside Primary Academy in Chesham and artist Rose Feather to create a mobile library of stories inspired by the children’s own local community, which was displayed in Chesham High Street. The relationship with Waterside Academy has deepened during 2024 through a repeat project. Our long-term goal is to take the refined project model to work with schools in the most deprived wards in our county.
## **New website and social media**
Also in 2023, our web presence was fully restored by the autumn with the development of a brand new roalddahlmuseum.org site. We had been operating with an interim static site since summer 2022, when our then-online home, roalddahl.com, including the Museum pages, was taken offline at short notice by its owners due to concerns about the increasing cyber-security risk from what was, undeniably, an ageing website.
Building a new, independent Museum website was carried out in a characteristically considered way, with development partners Cog. The new website showcases our marketing photography and is far better structured to support visitors – **both** families and schools – to find the essential information they need. Our work experience programming with the local Misbourne secondary school continued. Since November 2022, we have hosted 19 upper school students, mostly from Year 12. Each pair came to the Museum for an hour a week as part of their regular timetable for 5-6 weeks to complete their project. Students have created 6 different films as short form social media content, promoting either our public programme or an element/s of gallery interactives.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Roald Dahl Classic Collection**
We were pleased to appear, once again, in Roald Dahl publishing, with the launch of the Penguin ‘Roald Dahl Classic Collection’ in early 2024. Each edition of Roald Dahl’s twenty children’s stories featured in the Classic Collection includes an essay and archive image from the Museum’s collections. These reveal Dahl’s
collaboration with his editors and publishers to craft the tales known to millions. The Roald Dahl Classic Collection sits alongside the Puffin young readers editions launched in February 2023.
## **b. Widening the public offer: SEND and Under 5s**
The main general visitation audience for the Museum remains families with children aged 5-12 years i.e. prime reading age for Roald Dahl stories. This is also reflected in our school visitation which is principally upper Key Stage 2 i.e. upper primary school, same age range.
However, it has been obvious for some time that there are two audience types already visiting, for whom we could do more, and in 2023-24 we have implemented new initiatives to improve our provision for a wider range of audiences were delivered, in line with our strategic plans.
## **SEND audience**
A small but persistent number of Special Educational Needs and Disabilities (SEND) group visitors have come to the Museum, outside of our formal school programme, for many years. As operations have stabilised since 2021, in our long-term strategic push to be more WIDE (Welcoming, Inclusive, Diverse and Equitable), we have now developed a structured SEND offer for groups in line with our mainstream school programme, which in turn is improving our SEND provision for general visitors.
Back in 2022 we used a small Museum Development Southeast grant to hire specialist consultant Sam Bowen to work with our Learning team. Sam helped the team understand how seemingly small interventions to encourage play-based provision, supported by resources such as explorer backpacks, could be appropriate for a SEND audience. Remaining funding was spent on the resources we identified would be most useful.
A facilitated SEND school offer was mapped out in early 2023 and piloted in the autumn. Since we launched the SEND schools programme in January 2024:
We have offered 18 specific SEND school sessions in 2024. This has meant one dedicated SEND school day per month, including 3 sessions for up to 12 students per day.
- We have booked 12 of these sessions with around 140 students attending in total (bookings were lowest in January which is typically a slow month for mainstream school bookings).
- As well as the specific SEND programme, we are better equipped to welcome SEND schools and mainstream schools with SEND pupils on the main programme, enabling all students to experience the Museum at a level appropriate for their needs.
- Throughout 2024 we have seen an increase in SEND enquiries and requests for the SEND resources across both school programmes.
-
- As an example of teacher feedback: ‘… so inclusive and accommodating of all needs!’
SEND provision for schools has gone hand in glove with improving the SEND offer for a general visiting audience. We deliberately extended training to the Visitor Experience leadership team, so they could include SEND awareness training for frontline staff before every school holiday period, to build an overall culture of SEND visitor support. ‘Explore Your Way’ backpacks were first provided in summer 2023, and for summer 2024 we are offering 2 SEND-oriented days for the public, offering sensory storytelling and clay workshops.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Under 5s audience**
The Museum has always been most naturally pitched to families with children aged 5-12 years, and this is reflected in the 2005 design of our galleries. However, families of course come with younger siblings, and we had anecdotal evidence over many years that Roald Dahl stories may be read to, or watched as films by children far sooner than they might read for themselves. As with the potential SEND audience, we asked ourselves: what more could we do?
Our pre-COVID early years offer was monthly ‘Chiddler’s Hour’ sessions. These were suitable for the most local families but not in a format set up to accommodate as many children and their carers as we would like. In 2023 launched a new approach, building from Chiddler’s Hour good practice, now called ‘Titchy Toddlers’.
The difference was to give the entire site over to an early years audience on a term-time Friday in which we would otherwise have welcomed school groups. Interventions from Learning staff and extra resources complement the ‘age appropriate’ feel caused by offering exclusive access to a particular audience group.
Between April 2023 and March 2024, we delivered 12 Titchy Toddler sessions. We had 1343 people attend – 596 toddlers, 672 adults and 75 babies under 6 months: an average of just over 100 people per Titchy Toddlers session. In summer 2024 we have programmed three under 5s-oriented days – the first in school holidays – to experiment with extending this programme.
Titchy Toddlers has been successful in terms of visitor numbers, but providing it requires a choice to not offer either our mainstream or SEND school programme on a given day. Similarly, the SEND school programme, with smaller capacity per session, also demands a choice to do that and consequently not offer the mainstream school programme on a given day. With both areas of widening public offer, we consider that we are still in a period of research and development. Success is not only determined by numbers of visitors or income generated, but by the growth of skills and increase in impact and reputation.
## **c. Addressing a difficult legacy**
As a practical response to the legacy of Roald Dahl’s racist comments towards Jewish people, we took part in consultation with Jewish community organisations in 2021, through which the idea emerged of the Museum developing free educational resources to encourage positive action against hate and prejudice, making use of the popular appeal of Roald Dahl’s stories.
The Roald Dahl Museum made our own public statements condemning Dahl’s racism in July 2023. Those statements were developed through further consultation in Spring 2023 with Jewish community organisations, to ensure that we were appropriately informed. The statements can be found on our website www.roalddahlmuseum.org/aboutthemuseum. Regular awareness training for our staff and Trustees from the Antisemitism Policy Trust is also now on a 2-year cycle.
The production of resources exploring Children’s Rights – as enshrined in the United Nations Convention on the Rights of the Child has been a carefully developed piece of work over past two years. Work was guided by a focus group of Key Stage 2 primary school teachers, including entire terms of field-testing in the schools of some of the focus group teachers. Publication of the resources was delayed by the need to first create our new website to host them, which was a major undertaking throughout 2023; the resources are now online ready at the start of 2024-25 academic year.
The resources are a small, constructive step. It may not be our last action in this area of work, but it does move us in a better direction.
## **d. Working towards the future**
The heart of the Museum’s Forward Plan for 2023 to 2028 was set as the Unlocking Stories Project (USP) a comprehensive capital regeneration and expansion of our site – intended to reboot our business model to support a much longer-term progression in visitor experience and charitable impact.
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**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
The Forward Plan starts by identifying the audiences we intend to prioritise, and why. Then, under each strategic area or topic there is a summary of how work in that area will help to deliver on our 2023-28 aims, through specific projects and points of focus. Of course, areas overlap and integrate, and all can be enhanced through achieving a major capital transformation.
That we were able to set such an ambitious, transformative five-year Forward Plan remains remarkable. Staff and Trustees have continued to think long term, even during the difficult days of the pandemic. It is also a reflection of our good fortune, generous support and the leveraging of opportunity amid difficulty.
The sale of the Roald Dahl Story Company (RDSC) to Netflix in 2021 brought the era of an annual donation from RDSC to a close. However, the Dahl family, generously promised a one-off multi-million-pound donation to support our future, to be given through a new charitable entity, the Fantastic Peach Foundation (FPF).
This promise enabled us to embark on planning for a transformative capital development scheme, to ‘reboot’ the Museum visitor experience for the next two decades. In Spring 2023 we also took advantage of a one-off opportunity to acquire an adjacent site that would potentially allow the Museum to expand beyond our current site, and design work continued throughout 2023 to RIBA (Royal Institute of British Architects) Stage 3, and the securing of conditional planning permission in February 2024.
It is near-impossible to grasp the effort made by professional staff and consultants in the design development throughout 2023 without being part of it, but the all design work is rooted in a deep understanding of our audiences, informed by thorough research and consultation. During summer 2023 we established an ‘Ideas Zone’ to user-test potential interactives, alongside focus groups and an online survey which achieved more than triple its target number of responses.
## **Looking ahead to 2025**
The achievement of an expanded and remodelled Museum site was always anticipated to be contingent on significant additional fundraising, and the Museum pursued that capital project option on that understanding.
Since securing planning permission in early 2024, discussions with donors, and considering the current economic climate, have led to a review by trustees of the viability of an expansion scheme, despite acknowledging the valid ambition and rationale under which it had been developed during 2022-24.
Consequently, at time of writing, capital development very much remains our priority for 2025 and beyond, within a revised, but still ambitious project scope which strives to mitigate some of the challenges from the previous design scheme.
It remains important to hold to the underlying principle that our future is not about a capital project _per se_ , but about increasing our impact as a charity. Capital regeneration can support this through brilliant gallery design enhancing visitor experience and financial viability both through visitor income, and through the development of funder and donor relationships. The future is never certain, but for the Roald Dahl Museum, it remains full of potential.
## **4. Financial review**
## **a. Summary**
The Museum welcomed 51,217 general visitors in the 2023-24 financial year; the previous year we welcomed 41,426 general visitors to the Museum.
We also welcomed 7,905 in-person school visitors in the 2023-24 financial year (2023: 8,018) producing an income of £51,469 (2023: £52,909). We continued with our Livestream Learning programme and in the
Page 13
**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
year attracted 1,251 participants (2023: 1,210) generating income of £4,355 (2023: £3,875).
Total voluntary income increased to £10,057,047 (2023: £550,098): this increase was thanks to the major one- off donation of £10m from the Fantastic Peach Foundation.
A consolidated surplus of £9,308,699 (2023: loss -£240,355) increased the general fund. Total income of £11,037,213 (2023: £1,002,865) was received and total expenditure amounted to £1,728,514 (2023:£1,243,220), with the increase largely due to capital project design development costs.
The charity’s wholly owned subsidiary, the Roald Dahl Centre (Trading) Limited, operates a shop within the Museum and an online shop to sell Roald Dahl licensed merchandise. Any of the subsidiary’s taxable profits are gifted to the charity. In the 2023-24 year the Trading Company made a loss of -£24,635 (2023: loss of £47,512) therefore there are no profits to donate this year.
Internet sales amounted to £4,875 (2023: £7,150), a 32% drop. For part of the year we did not have an online webstore due to our interim website; as of October 2023, we now have a new website, and an online store run through Shopify.
|**SUMMARY**|**2023-24**|**Previousyear 2022-23**|
|---|---|---|
|**Museum visitors -general**|51,217|41,426|
|**Museum visitors - schools**|7,905|8,018|
|**Museum visitors – livestream**
**learning online**|1,251|1,210|
|**Voluntary (donated) income**|£10,057,047|£550,098|
|**Consolidated surplus**|£9,308,699|-£240,355|
|**Total expenditure**|£1,728,514|£1,002,865|
|**Trading Company - total outturn**|-£24,635|-£47,512|
|**Trading Company - internet**
**sales**|£4,875|£7,150|
## **b. Reserves level at end of reported period**
Reserves are required to fund the operations of the Museum in the event of an unforeseen but significant drop in income. This could be due to significant variations in donor or visitor income, or a damaging event. As a policy, the Trustees have determined that the level of reserves should at least cover the equivalent of six months of operating costs of both the Museum charity and its subsidiary Trading Company (the ‘Group’), to cover up to 50% below-budget performance for income, although some of this may be repurposed from designated reserve funds as well as general cash reserves.
For the coming year 2024-25 Group operating costs were budgeted to be £1,135,644 so a reserve of approximately £567,822 would be required. The balance of the general cash fund at the end of the 202324 year amounts to £10,088,220. There are therefore enough funds to achieve the 6-month costs cushion.
## **c. Principal funding sources**
Below is a breakdown of income by revenue stream.
|ow is a breakdown of income by revenue stream.|||
|---|---|---|
|**Revenue stream**|**% of total income**||
||**2024**|**2023**|
|Admissions, workshops and educational income|4%|30%|
|Trading Company|2%|14%|
|Donations and grants|91%|55.5%|
|Investment income|3%|0.5%|
|Sundry income|0%|0%|
Page 14
**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
The total Group funds at the end of the financial year were just over £14 million of which £14,142,804 represented the general fund available to the Group. However, of this, £4,373,183 represents the fixed assets of the Group including the value of our site, and the Heritage assets i.e. our collection.
These figures include the results of the trading subsidiary (The Roald Dahl Centre (Trading) Limited).
## **d. Investment powers**
The Trustees have the power to make any investment they see fit, but only after obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification.
The Museum established a presence on the Charities Aid Foundation (CAF) online platform managed by Flagstone in 2023, to better manage our reserve funds across a range of term-deposit accounts. This has facilitated the rationalisation and re-deposit of funds from existing reserve savings accounts, as well as an increased number of high interest accounts across which we have spread the major multi-million-pound donation from the Fantastic Peach Foundation (FPF) received in April 2023.
This investment approach was determined following advice taken from investment managers in 2022 about the likely return from investment in managed funds (<3%) and from an independent financial advisor who recommended that the high Bank of England base rate meant there were many term-deposit savings accounts offering interest rates markedly higher than the returns forecast from managed funds.
Although the long-term intention remains to invest the bulk of the FPF donation in regenerating and expanding our site for long term sustainability, at present the interest income generated by the core sum is serving as a proxy for the annual donation we received from the Roald Dahl Story Company, which ceased when the company was sold out of Dahl family ownership in 2021.
## **e. Going concern**
Given the balance in our reserves and Designated Funds, set against the budgeted income and expenditure for 2024-25, the Trustees have reasonable expectations that the charity will continue to operate for the foreseeable future and have therefore adopted the going concern basis of ~~a~~ ccounting.
## **5. Statement of directors' responsibilities**
The directors (who are also Trustees of The Roald Dahl Museum and Story Centre for the purposes of charity law) are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.
Company and charity law require the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accounted Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they give a true and fair view of the charity and Group and the incoming resources and application of resources, including the income and expenditure of the charity and Group for that period.
In preparing these financial statements, the directors are required to:
-
-
-
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards 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 charity will continue in business.
Page 15
**THE ROALD DAHL MUSEUM AND STORY CENTRE**
**(A Company Limited by Guarantee)**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s and Group's transactions and disclose with reasonable accuracy at any time the financial position of the charity and the Group 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 charity and the group and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
In so far as the directors are aware:
-
- There is no relevant audit information of which the charity's auditor is unaware; and
- The directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.
## **6. Auditors**
A resolution for the appointment of SKS Business Services Ltd, with SCB (Accountants) Ltd, a part of the SKS group, as auditor of the charity was passed at the Annual General Meeting in October 2023.
## **7. Small company provisions**
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
on behalf of the Trustees
| HharTeR **…………………….. Isobel Hunter Chair**
**Date** 20.11.2024
Page 16
**THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ROALD DAHL MUSEUM AND STORY CENTRE (CONTINUED)**
## **Opinion**
We have audited the financial statements of The Roald Dahl Museum and Story Centre (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 2024 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 including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland; 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 _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.
In connection with our audit of the financial statements 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.
Page 17
## **THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ROALD DAHL MUSEUM AND STORY CENTRE (CONTINUED)**
## **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 for the financial year for which the financial statements are prepared is consistent with the financial statements;
-
- The Trustees' Report has 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.
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; or
- The Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
## **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 necessity 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.
## **Auditor’s 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.
Page 18
THE ROALD DAHL MUSEUM AND STORY CENTRE
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE ROALD DAHL MUSEUM AND STORY CENTRE {CONTINUED)
Discussions were held with, and enquiries made of, management and Ihose charged with governance with a
view to identifying those laws and regulations that could be expecled to have a material impact on the financial
statements. During the engagemenl team briefing, the outcomes of these discussions and anquiries were
shared with the team. as well as consideration as to where and how fraud may occur in the entily.
The following laws and regulations were identlfied as being of signiflcance to the 8ntity:
Those laws and regulations considered to have a direcl effect on the financial statements indude UK financial
reporting standards. Company Law, Charities Act, Tax and Pensions legislation, and distributable profits
legislation.
It Is considered that there are no laws and regulations for which non-compliance may b8 fundamental to th8
operating aspects of the charity.
Audit procedures undertaken In response lo the potential risks relating to irregularities (which include fraud
and non-compliance with laws and regulations) comprised of.. inquiries of management and those chargad
with governance as to whether the charitable company complles with such laws and regulations; enquiri8S
with the same concerning any actual or potential litigation or claims,. inspection of relevant legal
correspondence; review of Board minutes. testing the appropriaten8ss of entries in the nominal ledger,
including journal entries., reviewing transactions around the end ofthe reporting period., and the performance
of analytical procedures to identify unexpected movements in account balances which may be indicative of
fraud.
No Inslances of materlal non-compllance were Identlfled. However, the Ilkelihood of detectlng irregularltles,
Including fraud, Is limited by the Inherent difficulty in detecting irregularities, the effectiveness of the entity's
controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from
fraud might be inherently more difficult lo detect than irregularities that result from error. As explained above.
th8re is an unavoidable risk thal material misstatements may not be detected, even though the audit has
been planned and performed in accordance with ISAS (UK).
A further description of our responsibilities is available on the Financlal Reporting Councll's website at.. https:11
www.frc.or .uklauditorsres
onsibilities. This description forms part of our auditorfs report.
Use of our report
This report is made solely to the charitable company's Trustees, as a body, in accordance with Chapter 3 of
Part 16 ofthe CompaniesAct 2006. and to thecharilable company'sTrustees, as a body, Part4ofthe Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thatwe might slate lo the
charltable Gompany's Trustees those matters we are requlred to state to them in an Auditorfs Report and for
no other purpose. To the fullesl extent permilted 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 these reports or for the
opinions we have formed.
Jeffrey Bor
(Senlor Statutory Aud5tor)
for and on behalf of SCB (Accountants) Ltd
Chartered Accountants
Statutory Auditor
31 Sackville Street
Manchester
M13LZ
Date:
Page 19
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04178505
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|Total|
|---|---|---|---|---|---|---|
||**Notes**|**Funds**|**Funds**|**Funds**|**2024**|2023|
|||**£**|**£**|**£**|**£**|£|
|**Income and endowments from:**|||||||
|Donations and legacies|**3**|**10,072,082**|**-**|**-**|**10,072,082**|556,228|
|Charitableactivities|**4**|**386,547**|**-**|**-**|**386,547**|299,308|
|Other trading activities|**5**|**170,955**|**-**|**-**|**170,955**|138,448|
|InvestmentIncome|**6**|**362,411**|**-**|**-**|**362,411**|6,962|
|Otherincome|**7**|**45,218**|**-**|**-**|**45,218**|1,919|
|**Total income and endowments**|**Total income and endowments**|**11,037,213**|**-**|**-**|**11,037,213**|1,002,865|
|**Expenditure on:**|||||||
|Raisingfunds|**8**|**195,179**|**-**|**-**|**195,179**|185,614|
|Charitableactivities|**8**|**1,530,947**|**2,388**|**-**|**1,533,335**|1,057,606|
|**Total expenditure**||**1,726,126**|**2,388**|**-**|**1,728,514**|1,243,220|
|**Net income/(expenditure) and**|||||||
|**Net movement in funds**||**9,311,087**|**(2,388)**|**-**|**9,308,699**|(240,355)|
|**_Reconciliation of funds:_**|||||||
|Total funds, brought forward||**3,831,717**|**8,667**|**1,000,000**|**4,840,384**|5,080,739|
|**Total funds, carried forward**||**13,142,804**|**6,279**|**1,000,000**|**14,149,083**|4,840,384|
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 26 to 33 form part of these financial statements.
Page 20
THE ROALD DAHL MUSEUM AND STORY CENTRE
## (A Company Limited by Guarantee)
## REGISTERED NUMBER: 04178505
**CONSOLIDATED BALANCE SHEET AS AT 31 March 2024**
||**Notes**|**GROUP**||GROUP||
|---|---|---|---|---|---|
|||**2024**||2023||
|||**£**|**£**|£|£|
|**Fixed Assets**||||||
|Tangible assets|**13**||**4,073,183**||3,458,900|
|Heritage assets|**14**||**300,000**||300,000|
|**Total Fixed Assets**|||**4,373,183**||3,758,900|
|**Current assets**||||||
|Stock|**16**|**57,875**||75,392||
|Debtors|**17**|**365,853**||57,597||
|Cash at bank and in hand|**25**|**9,460,824**||1,077,856||
|**Total Current Assets**||**9,884,552**||1,210,845||
|**Creditors**||||||
|Amounts falling due within one year|**18**|**(108,652)**||(129,361)||
|**Net Current Assets / (Liabilities)**|||**9,775,900**||1,081,484|
|**Total Net Assets**||**14,149,083**|||4,840,384|
|**Charity funds:**||||||
|Endowment funds|**19**||**1,000,000**||1,000,000|
|Restricted Fund|**19**||**6,279**||8,667|
|Unrestricted funds||||||
|Designated funds
General funds
**19**|**19**
**10,204,783**|**2,938,021**
**10,204,783**||3,052,196
779,521||
||||**13,142,804**||3,831,717|
|**Total funds**||**14,149,083**|**14,149,083**||4,840,384|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
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 have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
Page 21
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04178505
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Isobel Hunter Chair
Date:
## 20.11.2024
The notes on pages 33 to 42 form part of these financial statements.
Page 22
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04178505
## **CHARITY BALANCE SHEET AS AT 31 March 2024**
|`
**Notes**
**Fixed Assets**
Tangible assets
**13**
Heritage assets
**14**
Investments
**15**
**Total Fixed Assets**
**Current assets**
Debtors
**17**
**671,348**
Cash at bank and in hand
**25**
**9,435,324**
**Total Current Assets**
**10,106,672**
**Creditors**
Amounts falling due within one year
**18**
**(97,793)**
**Net Current Assets / (Liabilities)**
**Total Net Assets**
**Charity funds:**
Endowment funds
**19**
Restricted funds
Unrestricted funds
Designated funds
General funds
**19**
**19**
**2,938,254**
**10,437,629**
**Total funds**|`
**Notes**
**Fixed Assets**
Tangible assets
**13**
Heritage assets
**14**
Investments
**15**
**Total Fixed Assets**
**Current assets**
Debtors
**17**
**671,348**
Cash at bank and in hand
**25**
**9,435,324**
**Total Current Assets**
**10,106,672**
**Creditors**
Amounts falling due within one year
**18**
**(97,793)**
**Net Current Assets / (Liabilities)**
**Total Net Assets**
**Charity funds:**
Endowment funds
**19**
Restricted funds
Unrestricted funds
Designated funds
General funds
**19**
**19**
**2,938,254**
**10,437,629**
**Total funds**||**CHARITY**
**2024**
**£**
**4,073,183**
**300,000**
**100**
**4,373,283**
**10,008,879**
**14,382,162**
**1,000,000**
**6,279**
**13,375,883**
**14,382,162**|350,214
1,064,771
1,414,985
(124,768)|**CHARITY**
**2023**
**£**
3,458,511
300,000
100|
|---|---|---|---|---|---|
||||||3,758,611|
||||||1,290,217|
||**2,938,254**
**10,437,629**|||3,052,429
987,732||
||||||5,048,828|
||||||1,000,000
8,667
4,040,161|
||||||5,048,828|
The Charity’s net movement in funds surplus for the year was £9,333,334 (2023: deficit of £192,834). The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
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 have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.
Page 23
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 04178505
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Isobel Hunter Chair
20.11.2024 Date:
The notes on pages 33 to 42 form part of these financial statements.
Page 24
THE ROALD DAHL MUSEUM AND STORY CENTRE
## (A Company Limited by Guarantee) REGISTERED NUMBER: 04178505
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 March 2024**
|**Notes**
**Net cash / (used in) generated from operating activities**
**24**
**Cash flows from investing activities**
Interest income
Proceeds from sale of tangible fixed assets
Interest on investment
Purchase of tangible fixed assets
**Cash provided used in investing activities**
**Cash flows from financing activities**
Repayment of borrowing
**Cash used in financing activities**
Change in cash & cash equivalents in the year
Cash & cash equivalents at the beginning of the year
**25**
**Total cash & cash equivalents at the end of the year**|**2024**
**£**
8,752,477
-
-
362,411
(731,920)
(369,509)
-
-
8,382,968
1,077,856
9,460,824|**2023**
**£**
(79,786)|
|---|---|---|
|||-
-
6,962
(20,992)|
|||(14,030)|
|||-|
|||-|
||||
|||(93,816)|
|||1,171,673|
|||1,077,857|
The notes on pages 33 to 42 form part of these financial statements.
Page 25
THE ROALD DAHL MUSEUM AND STORY CENTRE
(A Company Limited by Guarantee) Notes to the Financial Statement for the year ended 31 March 2024
## **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 Roald Dahl Museum and Story Centre 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
Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking (the Group). 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 consolidated statement of financial activities shows a net surplus of £9,308,699 for the year (2023: net deficit of £240,355) and free reserves of £9,769,627 (2023: £1,072,817). The management are of the view that these results have secured the immediate future of the Group for the next 12 to 16 months and on this basis the Group is a going concern.
## **1.4 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 purpose .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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 26
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) Notes to the Financial Statement for the year ended 31 March 2024
## **1.5 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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income is deferred when either a donor specifies the income is to be used in a future period, or the income relates to an admission/event or course date in a future period.
## **1.6 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.
All expenditure is inclusive of irrecoverable VAT.
## **1.7 Basis of consolidation**
The financial statements consolidate the accounts of The Roald Dahl Museum and Story Centre and all of its subsidiary undertakings ('subsidiaries').
The Charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account.
The income and expenditure account for the year dealt with in the accounts of the Charity was a surplus of £9,333,334 (2023-deficit of £192,834)
## **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.
Page 27
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) Notes to the Financial Statement for the year ended 31 March 2024
## **1.9 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
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:
Freehold interest in land & - 1% Straight line buildings Premises fittings - 10% Straight line Software, furniture, fixtures, - 10-33% Straight line equipment Galleries - 5-10% Straight line
## **1.10 Heritage assets**
The Heritage asset represents the archive relating to Roald Dahl. The permanent collections contain manuscripts, photographs, letters and mementoes from his eventful life together with over 200 objects from his Writing Hut and a collection of films, documentaries and books relating to his life and work. The permanent collections are included in the balance sheet at market valuation at the date of acquisition. The Trustees believe that the costs to continually update the market value of the heritage asset would be onerous compared with the additional benefits derived by the Museum and the users of the accounts, The latest estimated value is reported in note 14.
The transient collections included duplicate and facsimile items held for educational and research purposes as well as a small archive about the Museum itself. These items are not recognised in the balance sheet as cost information is not available. The Trustees believe the benefits of obtaining valuation for these items would not justify the cost as these items are estimated to be of little monetary value.
The asset is deemed to have an indefinitely useful life and therefore depreciation is deemed to be immaterial. Expenditure which is required to preserve or prevent further deterioration of individual items within the archive is recognised in the Statement of Financial Activities when it is incurred. The Museum's management policy in respect of its heritage asset is summarised in note 14.
## **1.11 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, er 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.
Page 28
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) Notes to the Financial Statement for the year ended 31 March 2024
## **1.12 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **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.
## **1.16 Financial Instruments**
The Charity 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.
## **1.17 Pensions**
The Charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **2 Judgements in applying accounting policies and key sources of estimation**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
## **Critical accounting estimates and assumptions** :
## **Tangible fixed assets (see note 13)**
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Page 29
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **3 Income from donation and legacies**
|Donations
Grant
Year ended 31 March 2023|**GROUP**
**Unrestricted Restricted**
**Total**
**Total**
**funds**
**£**
**funds**
**£**
**2024**
**£**
**2023**
**£**
10,072,082
- 10,072,082
550,098
-
-
-
6,130|
|---|---|
||10,072,082
- 10,072,082
556,228|
||555,178
1,050
556,228|
## **4 Income from Charitable activities**
|Museum admission
Education course And event
Year ended 31 March 2023|**Unrestricted Restricted**
**Total**
**Total**
**funds**
**£**
368,206
**funds**
**£**
-
**2024**
**£**
368,206
**2023**
**£**
289,185
18,341
-
18,341
10,123|
|---|---|
||386,547
-
386,547
299,308|
||299,308
-
299,308|
## **5 Income from Others trading activities**
|Shop and café income
Sundry trading income from charity
Year ended 31 March 2023|**Unrestricted**
**funds**
**£**
170,834
121|**Restricted**
**funds**
**£**
-
-|
**Total**
**2024**
**£**
170,834
121
170,955|**Total**
**2023**
**£**
138,326
122
138,448
|
|---|---|---|---|---|
||170,955|
-|||
||||
138,448||
||138,448|
-|||
Page 30
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
|**6**
**Investment income**
Interest receivable
Year ended 31 March 2023|**Unrestricted**
**funds**
**£**
362,411|**Restricted**
**funds**
**£**
-|**Total**
**2024**
**£**
362,411
362,411|**Total**
**2023**
**£**
6,962
6,962|
|---|---|---|---|---|
||362,411|
-|||
||||
6,962|
|
||6,962|
-|||
## **7 Other Income**
|**Unrestricted**
Other Sundry Income
**funds**
**£**
45,218
45,218
Year ended 31 March 2023
1,919|**Unrestricted**
Other Sundry Income
**funds**
**£**
45,218
45,218
Year ended 31 March 2023
1,919|**Restricted**
**funds**
**£**
-
-
-|**Restricted**
**funds**
**£**
-
-
-||**Total**
**2024**
**£**
45,218|**Total**
**2023**
**£**
1,919
1,919
|
|---|---|---|---|---|---|---|
||45,218||-||45,218||
||||||||
||1,919||-||1,919||
## **8 Analysis of expenditure-by-expenditure type Analysis**
|**Costs of raising fund:**
Shop and café costs
**Charitable activities:**
Museum
Education
Archive
Profit/(loss) on sale of fixed
assets
Governance costs
Total Charitable activities
Total expenditures 2024
Total expenditures 2023|**Staff**
**Costs**
**£**
64,298|**Depreciation**
**Funds**
**£**
-|**Other**
**costs**
**£**
130,881|**Total**
**2024**
**£**
195,179||**Total**
**2023**
**£**
185,614|
|---|---|---|---|---|---|---|
||64,298|-|130,881|195,179||185,614|
||409,042
159,750
37,229
-|116,918
-
-
-|755,938
8,382
7,675
719|1,281,898
168,132
44,904
719||947,240
35,415
41,989
-|
||606,021
-|116,918
-|772,714
-|1,495,653
37,682||1,024,644
32,962|
||606,021|116,918|772,714|1,533,335||1,057,606|
||||||||
||670,319|116,918|903,595|1,728,514|||
||||||||
||601,144|112,581|529,495|1,243,220|||
Page 31
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **9 Support Costs**
|Premises costs
**Museum costs**
**2024**
**£**
62,819
62,819|Premises costs
**Museum costs**
**2024**
**£**
62,819
62,819||**Total**
**2024**
**£**
62,819
62,819|**Total**
**2023**
**£**
31,681|
|---|---|---|---|---|
||62,819|||31,681|
## **10 Governance Costs**
|Auditor's remuneration
Legal and professional
Trustee's expenses
**1 Net income (expenditure)**
Depreciation of tangible fixed assets:
- owned by charitable group
Auditor's remuneration-audit
Auditor's remuneration-other services||**Unrestricted**
**funds**
**£**
7,965
25,203
4,514
37,682||**Total**
**2024**
**£**
7,965
25,203
4,514||**Total**
**2023**
**£**
12,600
11,945
8,417
32,962
**2023**
**£**
112,581
12,600
1,400
126,581|
|---|---|---|---|---|---|---|
|||||37,682|||
|||||**2024**
**£**
116,918
5,500
2,465|||
|||||124,883|||
## **11 Net income (expenditure)**
During the year, no Trustees received any remuneration (2023: £Nil) During the year, no Trustees received any benefit in kind (2023: £Nil) Trustees received reimbursement of expense amounting £1,754 in the current year (2023: £953).
Page 32
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **12 Staff costs**
|Wages and salaries
Social security costs
Pension costs||**Group**
**2024**
**£**
589,288
49,184
31,847
670,319|**Group**
**2023**
**£**
526,256
45,868
29,020||**Charity**
**2024**
**£**
524,990
49,184
31,847
606,021|**Charity**
**2023**
**£**
462,819
45,868
29,020|
|---|---|---|---|---|---|---|
||||601,144|||537,707|
The average number of persons employed by the Charity during the year was as follows.
|Activities generating funds - shop
Charitable activities|**Group**
**Group**
**2024**
**2023**
**£**
**£**
6
6
28
26
34
32|
|---|---|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|**3 Fixed Assets**
**GROUP**
**NET BOOK VALUES**
Freehold land & buildings
Premises & fittings
Software, furniture, fixtures equipment
Galleries
In the band £60,001 - £70,000
In the band £70,001 - £80,000||**2024**
**£**
3,754,895
105,892
28,109
184,287
4,073,183
**Group**
**2024**
-
1|**2023**
**£**
3,083,415
132,916
19,934
222,635
**Group**
**2023**
1
-|
|---|---|---|---|
||||3,458,900|
## **13 Fixed Assets**
Page 33
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
## **13. Fixed Assets (Continued)**
|**MOVEMENTS IN YEAR**
**Cost or valuation**
Freehold land & buildings
Premises & fittings
Software, furniture, fixtures equipment
Galleries
**Depreciation**
Freehold land & buildings
Premises & fittings
Software, furniture, fixtures equipment
Galleries||**Opening**
**Balances**
**£**
3,539,286
323,912
278,169
1,219,795
5,361,162
**Opening**
**Balances**
**£**
455,871
190,996
258,235
997,160||**Additions**
**£**
703,277
-
28,643
-|
|**Disposals**
**£**
-
4,860
46,417
3,700
54,977||**Closing**
**Balances**
**£**
4,242,563
319,052
260,395
1,216,095|
|---|---|---|---|---|---|---|---|---|
|||||731,920|
|||6,038,105|
|||||
**Charge**
**for the year**
**£**
31,797
26,694
20,079
38,348
-||
**Disposals**
**£**
-
4,530
46,028
3,700
54,258||**Closing**
**Balances**
**£**
487,668
213,160
232,286
1,031,808|
|||1,902,262||116,918||||1,964,922|
## **14 Heritage assets**
|As at 1 April 2023 to 31st March 2024|**GROUP**
**2024**
**2023**
**£**
**£**
300,000
300,000|**CHARITY**
**2024**
**2023**
**£**
**£**
300,000
300,000|
|---|---|---|
The heritage asset represents the permanent part of the Roald Dahl archive. The archive was capitalised at market value at the date of acquisition. An external valuation of the permanent collections part of the archive was carried out by Sothebys & Co as at 1 March 2012 and its market value was deemed to be £2,060,000.
Subject to the approval of the Trustees, the charity may dispose of these items from the transient collection but only for sound curatorial reasons. On disposal, priority is given to keeping it in the public domain.
Page 34
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
## **14. Heritage assets (continued)**
The archive is accessible to the majority of users through education work and displays in the galleries. Researchers have access by appointment to items held in storage subject to the access and privacy policy of the Museum. The archive is maintained in appropriate conditions, under BS5454, with controlled temperature and relative humidity in a secure environment.
The Museum occasionally makes available on loan items from the collections to other museums and also accepts items on loan, subject to the Museum's loans policy.
## **15 Fixed assets investment**
|Charity
Cost of valuation
As 1st April 2023
As 31st March 2024|**Shares in group**
**undertaking**
**£**
100|
|---|---|
||100|
## **16 Stock**
|Merchandise|**GROUP**
**2024**
**2023**
**£**
**£**
57,875
75,392
57,875
75,392|
|---|---|
## **17 Debtors**
|Amounts owed by group undertakings
Other debtors
Prepayments|**2024**
**£**
-
48,579
317,274
365,853|**GROUP**
**2023**
**£**
-
32,939
24,658
57,597|**CHARITY**
**2024**
**2023**
**£**
**£**
310,690
293,121
43,685
32,561
316,973
24,532
671,348
350,214|
|---|---|---|---|
Page 35
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **18 Creditors amount falling due within one year**
|Trade creditors
Taxation and social security
Deferred income
Other creditors
Accruals
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods|**GROUP**
**2024**
**2023**
**£**
**£**
44,933
66,168
4,614
2,198
25,677
9,828
2,387
594
31,041
50,573
108,652
129,361
**GROUP**
**2024**
**2023**
**£**
**£**
9,828
4,551
25677
9,828
(9,828)
(4,551)
25,677
9,828|**CHARITY**
**2024**
**2023**
**£**
**£**
41,580
65,131
1,599
-
25,677
9,828
1,780
-
27,157
49,809
97,793
124,768
**CHARITY**
**2024**
**2023**
**£**
**£**
9,828
4,551
25677
9,828
(9,828)
(4,551)
25,677
9,828|
|---|---|---|
The deferred income relates to admission for the new financial year.
Page 36
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
## **19. Statement of funds**
## **Current Year**
|**Unrestricted funds**
**Designated funds**
Gallery fund
Learning development fund
Major repairs fund
Fixed asset reserve
**General funds**
General fund
**Total Unrestricted funds**
**Endowment funds**
Endowment funds-all fund
**Restricted fund**
Bursary for schools
Learning Public programme
**Total Restricted fund**
Total of Funds|**Balance as**
**at 01.04.23**
**£**
179,150
29,062
104,687
2,739,297
3,052,196
779,521
3,831,717
1,000,000
8,564
103
8,667
4,840,384|**Balance as**
**Income**
**Expenditure**
**at 31.03.24**
**£**
**£**
**£**
-
-
179,150
15,035
(12,292)
31,805
-
-
104,687
-
(116,918)
2,622,379
15,035
(129,210)
2,938,021
11,022,178
(1,596,916)
10,204,783
11,037,213
(1,726,126)
13,142,804
1,000,000
(2,285)
6,279
-
(103)
-
-
(2,388)
6,279
11,037,213
(1,728,514)
14,149,083
-
**GROUP**|
|---|---|---|
Page 37
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **19. Statement of funds (Continued)**
## **Previous Year**
|**Unrestricted funds**
**Designated funds**
Gallery fund
Learning Development fund
Major Repairs fund
Fixed asset reserve
**General funds**
General fund
**Total Unrestricted funds**
**Endowment funds**
Endowment funds-all fund
**Restricted funds**
Amanda Conquy Travel Bursary
Learning Public Programme
**Total Restricted funds**
Total of Funds||**Balance as**
**at 01.04.22**
**£**
170,150
40,275
104,687
2,851,878
3,166,990
903,048
4,070,038
1,000,000
10,701
-
1,010,701
6,080,739|**GROUP**
**Income**
**Expenditure**
**Balance as**
**at 31.03.23**
**£**
**£**
**£**
9,000
-
179,150
23
(11,236)
29,062
-
-
104,687
-
(112,581)
2,739,297
9,023
(123,817)
3,052,196
992,792
(1,116,319)
779,521
1,001,815
(1,240,136)
3,831,717
-
-
1,000,000
-
(2,137)
8,564
1,050
(947)
103
1,050
(3,084)
8,667
1,002,865
(1,243,220)
4,840,384|**GROUP**
**Income**
**Expenditure**
**Balance as**
**at 31.03.23**
**£**
**£**
**£**
9,000
-
179,150
23
(11,236)
29,062
-
-
104,687
-
(112,581)
2,739,297
9,023
(123,817)
3,052,196
992,792
(1,116,319)
779,521
1,001,815
(1,240,136)
3,831,717
-
-
1,000,000
-
(2,137)
8,564
1,050
(947)
103
1,050
(3,084)
8,667
1,002,865
(1,243,220)
4,840,384|
|---|---|---|---|---|
|||||(123,817)
3,052,196|
|||||(1,116,319)
779,521|
|||||(1,240,136)
3,831,717|
|||||-
1,000,000|
|||||(2,137)
8,564
(947)
103|
|||||(3,084)
8,667|
||||||
|||||(1,243,220)
4,840,384|
## **Description, nature and purpose of funds:**
## **Designated funds**
## **Gallery fund**
These are funds set aside for the purpose of maintaining, as far as possible, the quality of the current exhibits and the galleries.
## **Learning Development fund**
Funds are put aside to support the development of learning programs.
## **Major Repairs fund**
Income from the general fund has been set aside to help cover the cost of any significant repairs to the Museum’s fixed assets that may arise in the future.
Page 38
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
## **19. Statement of funds**
## **(Continued) Fixed asset**
## **reserve**
The charity has established a reserve to reflect the investment in the Museum's fixed assets. The expenditure for the year represents the depreciation of these assets and any loss on disposal and the transfer represents the funds set aside from the general fund and the gallery fund to cover the costs of fixed asset additions.
## **Endowment funds**
This fund represents the permanent endowment of the archive (£ 300,000) and the land (£700,000) donated to the charity. This cannot be disposed of, apart from the transient collection held within the archive. It is not an endowment that can be managed to generate income.
## **Restricted funds**
## **The Amanda Conquy Travel Bursary**
It was a regular donation to create and sustain a fund to subsidize the costs for a limited number of school classes to visit the Museum, providing the school meets certain criteria. This is to give schools from disadvantaged areas the opportunity to access the Museum. Going forward the Museum will review the viability of the fund within its own financial planning.
## **Learning Public Programme**
This fund is for a now-defunct public programme of outreach storytelling in hospitals, for which funds were generated through public donation.
## **20 Summary of funds**
|**Current Year**
Designatedfunds
General funds
Endowment funds
Restrictedfunds
**Previous Year**
Designated funds
General funds
Endowment funds
Restricted funds|**Balance as**
**at 01.04.23**
**£**
3,052,196
779,521
1,000,000
8,667
4,840,384
**Balance as**
**at 01.04.22**
**£**
3,166,990
903,048
1,000,000
10,701
5,080,739|**Balance as**
**at 01.04.23**
**£**
3,052,196
779,521
1,000,000
8,667
4,840,384
**Balance as**
**at 01.04.22**
**£**
3,166,990
903,048
1,000,000
10,701
5,080,739||**GROUP**
**Income**
**Expenditure**
**£**
**£**
15,035
(129,210)
11,022,178
(1,596,916)
-
-
-
(2,388)
11,037,213 (1,728,514)
**GROUP**
**Income**
**£**
**Expenditure**
**£**
9,023
(123,817)
992,792
(1,116,319)
-
-
1,050
(3,084)
1,002,865
(1,243,220)|**GROUP**
**Income**
**Expenditure**
**£**
**£**
15,035
(129,210)
11,022,178
(1,596,916)
-
-
-
(2,388)
11,037,213 (1,728,514)
**GROUP**
**Income**
**£**
**Expenditure**
**£**
9,023
(123,817)
992,792
(1,116,319)
-
-
1,050
(3,084)
1,002,865
(1,243,220)|**GROUP**
**Income**
**Expenditure**
**£**
**£**
15,035
(129,210)
11,022,178
(1,596,916)
-
-
-
(2,388)
11,037,213 (1,728,514)
**GROUP**
**Income**
**£**
**Expenditure**
**£**
9,023
(123,817)
992,792
(1,116,319)
-
-
1,050
(3,084)
1,002,865
(1,243,220)|**GROUP**
**Income**
**Expenditure**
**£**
**£**
15,035
(129,210)
11,022,178
(1,596,916)
-
-
-
(2,388)
11,037,213 (1,728,514)
**GROUP**
**Income**
**£**
**Expenditure**
**£**
9,023
(123,817)
992,792
(1,116,319)
-
-
1,050
(3,084)
1,002,865
(1,243,220)|**Balance as**
**at 31.03.24**
**£**
2,938,021
10,204,783
1,000,000
6,279
14,149,083
**Balance as**
**at 31.03.23**
**£**
3,052,196
779,521
1,000,000
8,667
4,840,384|
|---|---|---|---|---|---|---|---|---|
|||||||(1,728,514)|||
|||||
**Income**
**£**
9,023
992,792
-
1,050
1,002,865|||||
||||||(1,243,220)||||
Page 39
THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
Notes to the Financial Statement for the year ended 31 March 2024
## **21 Analysis of net assets between fund**
**Analysis of group assets between funds – group and charity – Current year**
|**GROUP**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
Tangible fixed assets
3,373,183
-
700,000
Heritage assets
Investment
Current Assets
-
-
9,878,273
-
-
6,279
300,000
-
-
Creditors due within 1 year
(108,652)
-
-
13,251,455
6,279
1,000,000
**Analysis of group assets between funds – group and charity – previous year**
**GROUP**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
Tangible fixed assets
2,758,900
-
700,000
Heritage assets
-
-
300,000
Investment
-
-
-
Current Assets
1,202,178
8,667
-
Creditors due within 1 year
(129,361)
-
-
3,831,717
8,667 1,000,000|**Total**
**funds**
**£**
4,073,183
300,000
-
9,884,552
(108,652)
14,149,083
**Total**
**funds**
**£**
3,458,900
300,000
-
1,210,845
(129,361)
4,840,384|
|---|---|
## **22 Pension commitment**
The charity is a member of the Flexible Retirement Plan administered by The Pensions Trust, a not-for profit organisation. This Is a defined contribution scheme available to all permanent employees. If employees have their own personal defined contribution pension scheme, the charity contributes to these instead. The assets of the schemes are held separately from those of the charity in independently administered funds. Contributions to the scheme are charged to the Statement of Financial Activities as they become payable and amounted to £31,847 (2023; £29,020), At the year end £1,599 (2023; £3,855) was outstanding.
Page 40
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **23 Operating Lease commitments**
At 31 March 2024 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 but not more than 5 years|**GROUP**
**2024**
**2023**
362
362
-
-
362
362|**CHARITY**
**2024**
**2023**
362
362
-
-
362
362|
|---|---|---|
||362||
## **24 Reconciliation of net movement in funds to net cashflow from operating activities:**
|Net movement in funds
Add back depreciation
Deduct interest income shown in investment activities
Interest on investment
Loss/ (profit) on sale of fixed assets
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
**Net cash generated/used in operating activities**|**GROUP**
**2024**
**2023**
**£**
**£**
9,308,699
(240,355)
116,918
112,581
-
-
(362,411)
(6,962)
719
-
17,517
(5,650)
(308,256)
(22,187)
(20,709)
82,787
8,752,477
(79,786)|**GROUP**
**2024**
**2023**
**£**
**£**
9,308,699
(240,355)
116,918
112,581
-
-
(362,411)
(6,962)
719
-
17,517
(5,650)
(308,256)
(22,187)
(20,709)
82,787
8,752,477
(79,786)|**CHARITY**
**2024**
**2023**
**£**
**£**
9,333,334
(193,067)
116,918
112,581
-
-
(362,312)
(6,962)
330
-
-
-
(321,134)
(73,667)
(26,975)
83,534
8,740,161
(77,581)|**CHARITY**
**2024**
**2023**
**£**
**£**
9,333,334
(193,067)
116,918
112,581
-
-
(362,312)
(6,962)
330
-
-
-
(321,134)
(73,667)
(26,975)
83,534
8,740,161
(77,581)|
|---|---|---|---|---|
||8,752,477|(79,786)|8,740,161|(77,581)|
## **25 Analysis of cash & cash equivalents**
|Cash
Bank balance
**Total cash and cash equivalent**||**GROUP**
**2024**
**2023**
**£**
**£**
144
54
9,460,680 1,077,802
9,460,824
1,077,856|**GROUP**
**2024**
**2023**
**£**
**£**
144
54
9,460,680 1,077,802
9,460,824
1,077,856|**GROUP**
**2024**
**2023**
**£**
**£**
144
54
9,460,680 1,077,802
9,460,824
1,077,856||**CHARITY**
**2024**
**2023**
**£**
**£**
144
54
9,435,180
1,064,717
9,435,324
1,064,771|**CHARITY**
**2024**
**2023**
**£**
**£**
144
54
9,435,180
1,064,717
9,435,324
1,064,771|
|---|---|---|---|---|---|---|---|
|||||1,077,856||9,435,324|1,064,771|
Page 41
Notes to the Financial Statement for the year ended 31 March 2024
## THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee)
## **26 Principal subsidiaries**
The following were subsidiary undertakings of the Charity: Names Company Holding The Roald Dahl Centre (Trading) Limited Company number 4854808 Holding 100% Included in consolidation Yes
The financial results of the subsidiaries for the year were:
|Names
The Roald Dahl Centre (Trading) Limited|**Income Expenditure**
**£**
**£**
**Profit/(Loss)**
**£**
170,933
(195,568)
(24,635)|**Net assets**
**£**
(232,965)|
|---|---|---|
Page 42