Charty regl¥tration number1085853 Company reglstratlon number 04178505 (England and Wales) THE ROALD DAHL MUSEUM AND STORY CENTRE (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE ROALD DAHL MUSEUM AND STORY CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Isobel Hunter. Paul Griffiths. Anna Vaughan Anna Tomlinson Anna Cohn Orch Michael Murray-Fenn811 Lynda Heavey. Svshma Jansari Anna Renton Chriscilla Phllogene Louise Doughty Sarah Realmuio. Anlhony Newton Tom MacAndrew' (Chai (Chair of Finarte Committee, Vke Chalr until 27 January 20251 (Char of Govem84Ke Commlttee, Vice Chair from 6 February 20251 (Reswned on 8 November 2024 } (Chair ol Capital Project Commlttee from 27 November 2024) {ch￿r ol Finance Project Committee from 6 February 20251 {Resigned lo join Roald Dahl Centre ITradlngl Llmlted Board as urKonflKted m8mb8r 8 Novemb8r 20251 'Dènoles Ihat a Trustse is also a director ol the Ch￿￿S wholly owned subsklbary, The Roald Dahl Centre ITr&llngl Llmlted, Wesley Sallon and Tom McAndrew, from 8 Novembef 2025 as directors of Rotjd DaN Centre ITradingl Ltd.. attended Museum Board meelngs, contributed to discussions but had no voting r￿h1$. Chlrlty number 1085853 Company number 04178505 Reglst•red ¢)fflc• 81-83 High Street Great Missenden 8uck1ngh￿shIre HP16 OAL Museum manag•mtnt t•am Museum DiTeclor, Steve Gt4dam Head of Collections, Wiliam Phillips Head of Learning, Natalie Wallxe Head of Flnance, NKola H•JgS Head ol Visitor Experience, Rebecca {Bekkil Short Ilfom 30 September 2024) Head of Markeling & Design, Kifflberfey Osbornè-spindlow Head of Govemance & Projects, Emma Bedlow Audltor SCB (Accounlanll Ltd Chartered Accounlanls 31 SaCkvil￿ Street Manchester M13LZ Bankers Lloyd5 Bank 27-31 White Hart Street High Wycombe Buckinghamshire HPII 2HL THE ROALD DAHL MUSEUM AND STORY CENTRE CONTENTS Pag• Trvslees. report Independent auditorfs rèport 10-12 Statement of Consolidaled financia actmties 13 Consolidaled Balance Sheel 14-15 Charity Balance sheet 15 Statement of Consolldated cash flows 18 Notes io the fin￿cial statements 19-32 THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present Ihelr annual report logether with the audited finanaal statements of Ihe Chafity for Ihe year 1 April 2024 to 31 March 2025. The Annual Report seNes the pu￿OseS ol both a Truslees. report and a dire¢lors' report under company law. The Trustses confirm that the Annual Report and financial slalemenls ol the charilable company compty with the curTenl statutory requirements, Ihe requiremenls ol thè charitable companies goveming document the provisions ol the Slalemenl ol Recommended Pracbce ISORPI applicable to charities preparing their accounts in ac￿rdanCe with the Financial Reporting Standard applicable in the UK and Republlt of Ireland IFRS1021 effective 1 January 2019. 1. Objectlvei ind actlvltl•$ . Object8 of the charlty The objects ol the Roald Dahl Museum and Skny Cèntre charity are 'lo further the ￿u¢•I10n of the publ1¢ In th• art of Ilterature and creallvlly by th• provl$lon and malntenan¢• of a mu8eum and Ilteralur• centie ba¥•d on th• work$ ol Roald Dahl,. To achleve thls. the charity has powers that include Ibul are not limited tol the lollowing: Organlsè, preserve and provide suitable accomnmxlation lor the literary archives of Roald Dahl and related items and matsiials: To buy, lake on lease, share. hire or otherwise aquire propety ol any sort,. To construct, aller, provtde, manage, maint￿n. fuini8h and fil with au Ihe necessary lumiture aThJ other eqvlpm8nl any buildlngs and any olher premises or struciures or land. The Museum galleries reveal vnexpecled delalls from Ihe lrfe of a worf&renowned writer whlch inlluenced the creation of thelr famous wotks, we help our visitors explore a compelling example of the creatNe process. The hèart ol Ihe Museum Is Ihe Presefftd Inlerfor ol Roald Dahfs Writing Hul, fvll of ujrlos and clues lo how Dahl found hls insplralSon and lumed this Into beslselling books. This Is complemenled by displays leaivring pieces from the Roald Dahl Archive, a fasclnaling record of how beloved works ol popular literature were ctafted 0￿r time. Throughoul its publi¢ spxes. Ihe Museum prowdes numerous inleracllve displays that encourage visitors to dieam up new characlers, m&48 an animated movie, match drawings to description, and mole besides, Although our currenl galleTies have served very well ahnost dec&Ses in delivering our charitable purpose, as a visllor venue, the accessibility and quality ol wsilor experien¢e- already high - needs lo rise further, and Ihls demands capital inveslmeTrl. We know Ihal our appfoach needs lo evofve, to centre even mNe fimity on the experience ol our visitors and their own cfealmty, lor whlch Dahl s Cfeaiivè craft 1$ a gulde. We have been working on capital plans in eamesl sincè 2022, bul in 2024-25 we recognised a need lo re￿aW and re4et within a Ilghler fiThancial frame, allhovgh no less ambilion for the Imp￿ of Ihe tr￿slo￿natiOn to comè. 2024-25 was lherefo￿ a period ol consolidaiion In tapilal planning, and this 15 further detailed below. b. Purpo1• and Strit•gl¢ Almi Slnce 2016 we havè used Ihe following slalemenl of putpose. as an everyd￿ wile￿￿01atk*n of our charitsble objects that supports the development ol strategic goals. Ovr purpose Is thal.. Everyone who experlen¢es the Roald Dahl Mulèum and Story Centre underntinds how th• work of Roald Dahl can be a key to unlock the storle5 we all have Snslde. Since 2016, we have taken this concepl of'unlocking sloiies,. unpackin9 Roald Dahl's creative process as an enabling example- and used il lo completely overhaul our sch¢)ol provision, earning a s￿d10rd Award for heritage education in 2018 and again in 2023. Our vision is sirnply.. Everyone is a Slorymaker. We believe making stories maes vs more human, and the enabling example of Roald Dahl's creative craft can hélp more people better undefstanij how lo make and shape sloTies of lh￿[ own. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 As part ol a new Fotward Plan lor 2023-28, we rewewed and agreed these strateglc alms and obieclNes in October 2022 whi151 they are becoming due for review, they remain broadty Cur￿￿1 in 2025 and can be seen reflected In the report ol aclivrty and performallce in 2024-25: Alm 1: Show how the ¢reatlvlty of Roald Dahl can be a k•y to unloek t stor1•$ wt all hav• Insld• Design¥ig and dekvering maior capital regeneration of the Museum sile lo sh¢)wcase Dahl's crealNe process and the crealNity ol our audiences. b. Designing and improving our Museum site with playlul, ￿KIal. and Idusive experiences that seek lo do the most, lor the most. Using the Museum's cdlecbon and location to show through all our work h¢)w creat￿lity can be an everyday practice that also supp)rts wellbeing Notice, Conne¢l. Be Aclive, Kee Leamin Designing and delivering soci￿, pltyful. inlergenetalional experiences in our publ￿ offer actiwty al the Museum, Ihal seek lo do the mosl, for lh8 most people. b. Designing and d81rrfering tsgeted palladabon projects for schools in areas of limited cuKural opportunty that Include the wider s¢1￿01 community (local area and students, lamlliesl Understanding and L%kling ihe barriers lo belng a more WIDE Museum {wekoming. inclusive, dNerse, equttablel by working with experts who reflect protected characteristics in OUT avdieTr￿. Building our own Tepulation as a WIDE Museum through cuttrvating partnerships and sharing our own slory within and beyond our sector. Usln ital to reach more le wilhln and be d Ihe Museum sile. Oeveloplng a robust publtc position acknoW￿dging and construclrvety responding lo Roatd Dahl's antisemitism. b. Ensuring that we have reduced our contribution to climate change and mitigated the environmenlal risks I￿Ing oui Museum lflood, energy usel. Supporting the personal wellbeing of our siaff alongside their ongoing professional development. d. pl￿nIng and investing for Ihe bng lefm, making the mosl of Ihe rtuni from Fantss￿( Peach FOUnda￿on lundin Alm 2: Splrk ih4r•d story maklng to t••ch a vAd•r fange of audlonc•s Alm 3: In¢rea8e our own r•$lllen¢o and $ustalnablllty to better $eNe our publlc c. Publlc Ben•fll $tatem¢nt The Museum Trustees have had regard to the Charly CfxnTrission'$ guidance on publK benefit. 2. Stru¢tUTe, govern•nt•, Ind minagement Con8tltutlon The Roald Dahl Museum and Story Cenlre is a company lirriled by guarantee and not h￿NIg a share capltal.. COmp￿Y numbei 4178505,11 Is also a Tegislered charity govemed by its men￿land￿m and Articles of Association.. Gharity number 1085853. The Trustees are the di(eclors and members ol the charity. The charity has a trading company. Roakl Dahl Centre ITiadingl Limiled I'Trading'l, lo deal with the non-primary purpose trading activities. Trading is a wholty ¢)wned subsidiw, and the altached finanaal statements consolidate the results ol the subsidiary. b. Organl$•tlonal struclure and declslon maklng During the year April 2024 to Mar¢h 2025 there were five ordinary Board meetings. These meetings are the principal way in which the Trustees govern the work ol thé charity. There was also an 'awayday' held in Oxlord in April 2024 which started a deep review of the capital projecl, bringing seveial new Iruslees up lo speed with past decisions and ¢onsKlerations. Throughoul 2024-25 meetings of the maln Museum Charity Board incorporated Ro* Dthl Centre (TradirvJ) Ltd ￿siness. TheAnnual General Meeting look place in November. Theie were severa meetlngs ol e&h Bo*d sub4ommittee durirwj Ihe yew - FlnaKe Commiilee, Govwnance Commiiteè, Fundraising Advisory Committee and the Capital Proiect Committee- tyP￿aty held Onli￿ for Ihe convenience of Convnittee members. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Typicalty, a delailed Management report on Ihe period following Ihe previous Board meeting Is submitted in advance to the Board prtor lo a main meeting, supporbng an agenda agreed by the Chair. Committee Chairs report lo the Board on the meelings ol their committee which have preceded the Board meeting. Alongside the main ieF*)rt, the Director and senior slall present stralegy and policy documenls at Board rneeling5, which are discussed by the Board recommenilalions from slaff either xcepled or Tevised as agieed, allowing staff lo lake delegaled action. W necessary, papers may be circulaled on issue be￿een Board meetings, to inlom) the Board or request a Board decision which may be needed before the nexl scheduled meeting. The day-trpday runnlng of the Museum is managed by Ihe ￿seUM Dkector and the slaff. The pay for the Mvseum's stall Ss determined u51ng market inditaiors and reviewed when recruiling new members lo the team. to ensure il is comparable lo similar organisalioThs in the seclor and In line with people al the s*ne level In the organisalh)n. The14luseum does not operate a Perf￿nance Related Pay system. annual Gosl ol Uvlng Increase is determlned by the Finance Commiitee belore being approved by Ihe wlder Tnjslee l)oard during the annual budgellng process rf appliGabl8, typlcaly paid to stsff In Awil. A5% award was pald In Aprfl 2024. 3. Appolntment ol and 8UPPOrt for Board m•mbern Four new Truslees lolned the Board followSng the October 2023 Board meeting, and a lurther three ￿ined after the February 2024 Board meeting, lo stagger the intake. All look part in an inrflepth induction day on 31 January 2024,. Ihis was acknowledged as v8ry welcome and thorough by several comments in the annual Board member review whi¢h look place in March 2024. Currently, every Board member is now also a rnernber ol one of the Board's 5vb-commlttees. This undeniabty increases thè demands on volunteer Board members, lirng, bul11 has also demonstrably incieased their engagement with and understanding ol the issues lacing the charity. 4. Rol•t¢d Partl•i The charity has taken advantage ol the exemption In FRS102 Irom discloslng tr￿Sac1Th$ w6th its subsldlary as consolidated financlal statements are prgpared. 5. Rllk minag•m•nt The Tiuslees hm tsken care lo address the mdn fin￿1￿, operational and heaih safèty risks facing the charlty. OpeTalonal risk assessments are created IOT new activity and maintsined and annualty rewewed for existing aclivity. This approach is arbculated In a W￿(ten Risk Managemenl poli￿ whlch Is rèvlewed annudty as pat ol thè mllng mi8w of al Museum policies by the Board of Trustees. In December 2021 an extwnal Health & Safety audit by the Bishop Sinon consuttancy found that the Museum was a low risk and broadly compllanl operational environment. Bishop Slmon's report noled: 'The mosl impressive Ilndings are.. l) Ihe Iraining malrix Idenlifies Ihg requirements for staff 818V8ry level of the 0ryanisall￿I, plus thè Ireining log cm818d for each member ol s18ff,' and 2) Ihe exislence of risk ass8ssm8nls for adNilies and higher risk woth 8reas (relaliv8 10 olher inlernal aclmlies). RDMSC is dèscribed as a low-1￿ organ￿alk)n. relalive lo organisab'ons Ihal belong lo high-hazard Induslries, for 8xample, 8gncutture and C￿l$lluc￿0n.' Slraleglc rlsks i.e. non.opeTalronal risks are those wh￿h are consijered endurfng.. risk SCOTes May be assessed as hlgher or lower al any given moment, bul the risk remains due lo the nature of Museum ¢haTity and stays on the register as a reminder lo a¢lwety maintain Board oversight of mitigations. Therefore, high scores lor slrate9ic risks do r￿t neces5arity indicate a 'lNie' Cflsls. Slralegic risk score recomrnendalions by Managernent arè wamings to take ￿tion to a¥old a potential crists. The Stralegic Risk Reglstei is updated by Management and reviewed by Trustees al all general Board meebngs as a sla)ding agenda ilem. The current formal of strategic risk register uses the Association of Independenl Museums 'Hallmarks' to Categorise strategic risks. l.e. ir hieving a hallmark represents best strategic pr&tice. Ihen a strategic risk can be defined as the opposite ol Ihal practice. Enduring strategic risk areas include purpose, finance, leadeiship and ¢ulbJre. nets¥orks and awareness, visitor locus, conections care, govemance practs'ce, innovation and risk, and tackling inequality. A stralegic financial risk is expressed as 'not achieving budgeted income targe15.' A slratsgic risk adversety affecting leajership and culture is. key personnel leaving al ciitical junctuie of work,. A strategic risk in relalion to putpose is expressed swnply as: 'The Museum does not have OT make use of a cleJ 5tstement ol wrpose.. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 6. Achlev•mont$ and pèrfom)an¢t 202&25 Our main success measures are typ￿allY Museum visitor numbers, both as genera wsilors and for our xhool programrne- the number of people we impact as a charity through their visil lo the Museum, and, also, the source of much ol our operaling Income. We seek lo book school and public workshops a5 close lo capacty as possible, and increase this capacity wheie we can, based on the evidence ol demand. To remain viable as a charitable company, we closety monilor our income and costs lo generate and analyse Ihe data from which further efficiencies may be found. In 2024-25, the curvè of recovéry from mhJ-2021 posllOVID re0￿niNj Ilattened. General vlsllor numbers were behind budget for the year, wllh th6 most ewdenl cause being a suN4ner of fair weather which historically has ah¥ays diiven our visitOT numbers down. Against Ihis frustrating backdrop. much good wlwk Gontinued. and the Museum strerwJthened In many areas: our wond su¢¢esslve 'Glittering Eye5, outreach project with Waterside Primary Academy was su¢cèsslvlty delivered, our Under 5 and SEND (Special Educational Needs and Dlsabililiesl programming made strides forward these growth audiences, and a new Museum mural was vnveiled al Gr&al Mlssenden slalion. And whilst visitor numbers were slubbomty low ovtside of October February haw terms, by the end of March 2025 we had eslablished an in.house calering offer al Ihe Museum to contributs to slronpr secondary spend. Investments p6rfomied better than budget. In summary, against undenlable chamanges, thère was sb'll much lo cheer. An over¥lew of 202*25 In thé firsl pèriod of Ihe year, sprlng Into autumn, our new SEND sthool wogranme 1￿Ched, and we partnefed wlth the Natlonal Paralymplc Heritagè Trusts IraSnees on Ihe National Lottery Her11￿e Fund proje¢t'Digilal ExploT81ions', seeing Roald Dahl'5 Wriling Hul through the eyes of a SEND Iralnee as a space adapted to meet Dth's own p￿t￿￿ar needs. Our Under 5s excluslve access days - 'TKchy Toddlets'_ Increased kn frequew lo In¢￿de an extra Monday sesslon every hair torm, In addllion to Ihe monlhty Friday& We delfvered the first family storyteliig sès8lDn al HMP The Mount, ha¥lng been wproached by the prison edUCat￿n staff to work with them on efforts to sirenglhen fam1￿ bonds for prisoners ahe&J ol release to reduce the risk of reoffendlng. This programme has continued since and the impact on prisoneis, and on Museum Slall invohd, has been profound. We again commissioned anbsemillsm awareness training from Ihe Antisemitism Policy Trust in spring 2024 as part of our ongolng efforts lo rèspond conslrudiv8ly to lh& legacy of Dahl's iacism tow¥ds Jews: Ihis trainiThJ is on a ￿0*ear Cycle. The summer term 2024 was especialty busy lor school wsits, Induding one from a school with a child with exlreme allergies. Our team rèsponded dlligenlly lo the specrfic requests Irom the school lo creale a safe environment. and the school fed baGk afte￿ardS Ihal they had never had such a considered and quality school visil experience which supported that student's needs so well. Durlng thls perlod, we del￿red the second Iterallon of our 'G￿llering Eyes. ouifeach progTamme in partnershlp with Waierside Primary Academy in Chesham, and artist Rose Fealhei. The programme intent is to increase culbjral opportunty in the areas of Buckinghamshlre where this is most challenged. The Èssence ol the project Is lo encourage crealNity by helping part¢cipanls find inspiration wherever they are, by looking at their local envlronm6nl~ In Dahls wonderful phrase- l¥ith glittering eyes,. The proiecl delivery benefitted from the evalualioTr of Year1 and reiThlor¢ed the importance of leaming outside the classroom in the school's local area as a signrficanl elemenl ol benefit lor pupils and teachers allke, complementing the value placed on Ihe ¢olLiboralion with thè wolessK)nal artist and Museum eX￿rt staff. The 2024 summef visits season was regrett￿ty very weak in leThns of performaKe against l￿dge1- dtrspile a cool sumfflér across thè UK, the sun shone in Buckinghamshire and the Soulh East IhToughoul AugusL Nonetheless, we were pleased to launch our SEND famity'Explore Your Way. days as part of the public offer for the fiisl lime. Our growing SEND work for both schools and families repiesents a conw¢lion that the Roald Dahl Museum has a clear duty to keep improving our welcome for the ihousands ol families INing with SEND. In September 2024 our free school resources exploring the United Nations Convention ol the Rights ol Ihe Chikl IUNCRC} were finalty available on oui websile, following a long and thoroughty ¢onsvlled programme of deveh)pmenl. These resources seek lo miligale the risk ol prejudiced wews developing in piimary age children by exploring Ihe claiming and chalenging of inalienable rights. explored through thè expellences of Roald Dthl child hefoes. In autumn 2024 Math Rosenblatt's new plaY'GI￿1, premiered al the Roya Court Theatre in Lon(h)n, sta￿1n9 John Lilhgow as Roald Dahl at the point of controversy in his life arising from his article featuring iacisl wews in Ihe Lilerary Review. The Museum had no involvement in Ihe play, butwe noted the nu￿Ced and thoughfful comments about Dam's complex legacy in numeious inteNiews by the play's creaiive learn. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 During a busy October haK teim. we piloted a later night opening for our'Twits and Tricks. Iheme the day before Halloween, whlch attracted the highest visitor numbers that week. A second, reftned is planned lor 2025. During the aulumn le￿n we began a project with our local Second￿ school, the Misbourne, Ihanks lo fundlng from the Chlllern Rail Communty Investment Fund. A large blank wall al Great Missenden station was ripe for irnprovemenl.. Ihe opporiunity was lor students on the junior leadership councll to dèvelop their project management and planning skills, briefing, recNiling and collaborabng with Pfolessional IIIu51ialor Sofveig Eva Magnusdottir.. and for the Museum, lo achieve a highty visible presence lor all passengers passing through Great Mis5enden. The project saw a I￿rne1[e.W¢de mural inslalled in FebTuary 2025 on the southbound platform. Students involved reported how much they had gained from Ihis experience of prolesslonal putlK ream enh￿cement wo￿. guabty one of the most significant operath)nd thanges slnce Ihe Museum opened in 2005 look pl&e In thé wintsr of 2024-25.. flnalty eslabllshlng a viable in-house catering olfer, the Filling4lation kKisk. We lake part In the Visllor Attraction Qualjty Assurance Schèma IVAQAS} wn by Visii England, recemng an èxlerna expert review each y8ar'. In the 2024 review we receNed a score of 95% la1% improvement on 202311 and another'Besl Told Slory. accolade. One notable ar68 rfpe lor Improvement was In <￿T 'adequale' ¢akning offer. Al the tkne of the 2024 VAQAS review, the catering offer was outsourced to a small calering businèss tunnlng a klosk from OUT café kikhen door into the Museum's courtyard. This approach followed a p6riod of forced experim8nlation with popup catering trucks in the coutyard in 2022. which had in turn been promptèd lollowing Ihg deparlvre ol long-sérvlng in.house calé staff following the panderric. After a deternined, bul ullimalety Iruilless search for a pemianenl calé manager, and wilhoul catering experien￿ withln Imrr Visitor Experience team al that time, we had closed the High Street calé In winter 2021. Working with 'resldenl caterers, during 2023.24 was a reasonable thoke, and thè r￿lIentatIon of café se￿Ice lo Museum ￿$s10T5 In the courtyard was vndoubledty Ihe right movè. HOWe￿r. ovèr time the serytce proved inconsislenl. To bè lair, our ws11￿ numbers were not as hlgh as they needed lo be foi iunnlng Cate￿ng as a concession. In the end, staff lumover on the Museum side Pfoved the key lo Ghange.. In Odober 2024 a new Head ol Visitor Experience joined a le￿ whkh had fecenlty rectuited new Visitor Opera￿.On$ Officers,. all these new staff had food and beverage experience and the drive to lthe catering back In house for good. Flnanclal modelling Indicated il was more than probable Ihat we coukl exce8d the ￿￿dest conLYssion income from tha calarer whllsl hokllng Control of quality In line with Ihe rest of our visitor experience. Hard plannlng and pieparallon look place over winter 2024-25 w0￿1ng across Museum teams, wllh nollce gfven lo the caterer. The new In- house catering kiosk-'The Filling-slalion., a nod lo Danny Th6 Champion of the World- opened in lime for Febwary hall term in èarly 2025, In that bu51esl week of our year, we immediatety made ffore money than th6 ouisowced catèrer had taken in the same period In 2024. At the lime of writing the Filling-slallon Is fvst over slx months old. ￿ cakning irKome has perfonned propotllonatety bètter agalnsl budgel than visitor numbers and bcket income, This gNes broader optimism Ihal despite several years of eGonomK gloom, wsilors do have monéy to spend il the offèr Is rfghl. Nonetheless, we are still leaming and have room for improvement in calering offei. This will be wilhin our slmple 11aM￿0￿ of locally- sourced products- frorn lea and coffee to crisps and cakes - combined in a menu that is deliberalety light on choice lo support speed of servlce and minimise wastage. These pllnciples Can make li harder lo source menu items for specialist diets, but we are increasing confident Ihal we are on a solld and sustainable foob'ng for food and drink al the Museum. Whilst wsilor numbers remalned Iruslrabngly low overall during 2025 to dale, we are inveslir4J more in the markebn9 needed lo a1tr2LI a bigger audience, and the comparallvely strong secondary spend u) earfy 2025 gwes confidence that there L8 loom lor improvement in all visitoi income streams. 7. Worklng towards the lutur¢ The heart ol the Museum's Fojwwd Plan kn 2023 to 2028 was sel as Ihe Unk￿Ing Sloties Project IUSP) - a comprehensNe capitsl regeneralion and expansion of our sile- intended lo support a much *r4emi progresslon in ￿SIttir expeller￿ and ch￿table impact on a loundabon of higher visitor numbers and uicreased eamed income. Following the sale of the Roald Oahl Story Company IRDSCI lo Neffiix in 2021 ihe Dahl family generously promised a onethoff mulli-million- povnd anchor donation, even as annual donations Iroffl RDSC came lo an end thiough Ihe change in ownership. The do￿a￿On has been designated in lunds for capital development and long-lem) resilience. beyond ordinary Iree reseNes. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This remarkable gift enabled us to embath on plannkng for a transfomatNe capilal development Kheme. In Spring 2023 we also took advantage ol a one-off opporlunity to acquire ￿ adjacent sile that would allow the Museum lo expand beyond our cu￿nI sile. Design Work ontinued during 2023 thiough to the securing of conditsonal planning pernisswjn in Febwary 2024, The achievement of an expanded and remoddled Musèum site was a￿ayS anticipated to be conlingenl on signrfKanl additional lundraising, and Ihe Mvseum had pursued the expansion projecl option with that understanding. However, alongside design progress, inflation continued lo rise and Mu5tsum performance slru99led. Discussions with donoTS, and considering the prevailing economic climate, led to a feview by Iruslees of the wability ol an expansion scheme in 2024, whilsl xknowledging the valid ambition and rationale undef which it had been developed during 2022-23, In N0￿mber 2024 the Board of Twstees decided to abandon the expansi￿ xheme to fLKus aitention on regenerating our exlslng sl16. to control lh6 overall woiecl cost and remove Ihe contingency on addilional fUndrai￿n9. The capital proJ8¢1 revlew 'fe-t*)oled' lo RIBA (Royal Insblute of British A￿hlIectsj design stsge 1.. a new feaslblllty Study examlnlng thè opportvnitses and cdlkd Issues ol our exist￿g site, drawing on and going beyond Ihe lessons leamed from time spent on the expanslon project. A Ihorough sile condition sumy in January 2025 confi￿ed the areas ol highest priority for repair, and the opporiunilies lor Improvement in sile accessibility and environmental sustainability. Three oplions were developed lo RIBA1 level ol inloTmalion, and at lime of wriling, a Girca £6m scheme ha5 been taken lo￿ard io RIBA design st&ge 2. There is a long way lo go bul the capllal scheme fémalns on track and full ol renewed energy. TNsiees and slaff continue lo lo the undertylng prfnClp￿ that our future Is not thil a capiia project per se, bul about Increaslng our Impa¢1 as a charity. Capllal regeneration Cr￿ support this through brilli￿l gallery deswn enhancing visiior experiènce and flnanclal viablllty, Ihfough vlsllor Income, and through the d￿knpment ol fundet and donor relalionsh*s. The lulure is never certain, bul for the Ro￿d Dpthl Museum,11 remains full ol potential. 8. Flnlnclal R•vl•w . Summary The Museum welcomed 43,717 genwal visitots in thè 2024-25 finartlal year; In the pr￿ou$ year we welcomed 51,217 general visitOTS to the Museum, a-14V• drop. Oui anatysis indicaltrs Ihal this has been due lo I￿ rise in the Cost ol living lor lamilies, and the dlminlshed visibility of the Museum as we have been too slow to makh our marketing spending to liflat￿n., this is be￿g ajdressed in 2025. We a150 welcomed 7,723 in.person school Msbtors Ki Ihe 2024-25 financlal year12023-24'. 7,9051 producing an income 01 £52,85212023.24'. £51,469). We continued with our Lwestream Leamlng online sch￿￿ programme ￿ in the year aitr&led 872 particlpanls12020.24.' 1,2511 generating income of £2,94012023-24.' £4.3551. Total voluntary income decreased to £55,321 (2024.. £10,057,047), principalty eamed Irom Gift Aid on admisston sales. The change was because 2023-24 had included Ihe malor onerf donatKsn of £IOm from the Fanlaslic Peach Foundabon, a uniquè level ol voluntary Income lor a single year. The bulk ol this donab'on has been formally designated in funds during 2024-2S for specific inlended purposes.. the capital redevelopment project, and lor lulure 'sell-subsity to dlow tkket ￿'C6S to remakn competilNe; ￿ essenthd option due to the public subsldy suppressing prices across the museum sector. A consolidated deficit 01 £292,095 {2024'. surplus £9,308.699. prior lo ¢he designation of donated funds) decreased the geneTal fund. Tolal Income 01 £1,048,09712024'. £11,037,213) was recewed. Totsl expendiiure amounted lo £1,340,19212024.' £1,728,514}. The charity's wholly owned subsidiary, the Roald Dahl Centre (Trading) Limiled, operates a shop within the Museum and an online shop lo sell Roald Dahl licensed merchandise. Slnce ea￿ 2025 we also now wn a calé kiosk called The Filling-slation. Any ol the subsidiary's taxable profits are grfted to the charity. In the 202*25 year the Trading Company maje a small PTofil of £1,83812023-24'. loss ol 424,6351. There will not be any profits lo donate for 2024-25. as these will be offset agaiist the losses brought fotward. The Trading Company Is forecast to make a ￿ger profil in 2025-26. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Inlemet Telail sale5 amounted lo £9.09112023-24.. £4,875), a 86% tncrease. D￿ftg part ol the prevlous year we dld not have an online webslore due lo our interim website., a new website was established in October 2023 including an improved online store run through Shopity. 02&25 3.717 ,723 72 55,321 1,838 1.340.192 £292,095 Prevlou$ 1,217 ear 2023.24 Museum vlsltors. eneral Museum vlsllor8. $¢hools Museum vlsStor$- Ilv•$tream learnln Volunta donated) Income Tradln Com an . total outturn Total ex endlture Consolidated deflclU$ur onllne 1,251 10,057.047 £24,635 1,728,514 9,308,699 lu$ b. Re$erve8 level at end ol feported perlod ReseNes are fequlred lo fund the opeiallons of Ihe Museum Mi Ihe event of &) unforeseen bul signiftcanl drop in income. This could be due lo significant variations in donor or visiior income, or a dam4ing evenl. As a policy. the TNslees have delennined Ihal the level ol reseryes should cover Ihe operating costs ol both Ihe Museum charity and ils svbsidiary Trading Company (the 'Group'l, in Ihe ￿ent ol up lo 50Y. below-budgel perfonnance foi income a¢ross a If necess￿, the tsuslees coukj repurpose deslgnaled funds as well as use general ¢ash reservès. Thanks lo the maior grfl from the Dahl family receNed In 2023, the Museum cU￿nIY holds SI9nff￿anI funds whlch were foimally deslgnaled In 202510 delivei the rnuch-needed capital fegeneralion and long-temi financial resilience essential lo our survival as an independent charlty. These designaled lunds n¢)w sll outside the generd reseNes sum held. but were included wiihin il al ihe end of 2024-25 prior lo thelr desi9nalKIn. For Ihe ¢ornlng yeaf 2025.26, Group opefailng costs are budgeted to be £1,351,379 $0 a reserve of approximately £875,690 would be requlred. The balance ol the general cash fund at Ihe end of the 2024.25 yew amounted to £10,035,608. Following fonnal designation ol £9m lo speclfic funds In 2025. thwe pAe $llll •nough g8nèra lunds to achth the dèslred resetve level. ¢. PiSnclpal fundlng iour¢•i Below Is a breakdown of kncomè by re￿nue stream. Revenue stream Yg ol total In¢om• 2025 2024 36% 15% dmlsslon ,worksho radin Com an onalions and rants Inveslmenl income und income s l￿d educaiwJnal income 2% 91% 3% 44% The lolal Gfoup funds at the end of the 2024-25 f￿ancial year were neaty £14 million ol whKh £13,856,988 represented the general fund available to the Group Iprlor lo £9m being formal￿ designated for the capital project and long-lemi resilieTrce al the siart 012025-261, However, ol this lolal, £4,265,476 iepresenls the fixed assets of Ihe Group including Ihe value ol our sile, and the Hetilage assets i.e. our collection. These figures Include the results ofthe trading subsidiary. The Roald DaN Centre (Trading) LNThted. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 d. Investment powe The Trustees have the p¢)wer lo make any investment Ihey ￿ fil, bul onty after obtaining thce from a finan(aal expert and hawng regard lo the suitsbility ol inveslmenls and the need f￿ dv￿r$I￿at10n. The Museum established a presence on the Charilies Foundalton ICAFI online plalfomi managed by Flagstone in 2023, to better manage our reseNe funds across a range ol teryn-deposil accounts. This has facilitated the rationalisation and re41eposil of funds Iiom existing reseNe savings accounts, as well as an increased number ol high inleresl accounts across which we have spread Ihe major multi-million- pound donabon Irom the Fanlastlc Pe&h Foundation IFPFI recewed in April 2023. Thls Invèstment approach was delemiined follo*iThJ advicè taken from In￿sIment managers In 2022 aboul the likely return Irom Inveslmenl In manageil lunds1<3%1 and from an independent financi8J advisor who recommended thal the high 8ank of England base rate meant therè were many termdeposlt savings ¥counts offerlng interest rales mthedty higherthan the relums lorecasl from managed funds. Ajthough the long-lemi intenlion remalns lo Invesl the bulk of the FPF th)na￿.0n In regenerating and expandlng our si18 for long lerm sustainability, al preseThl the inlerest income generated by the core sum is seNng as a p￿xY lor the annual donalion wè recèlved from the Roald Dahl Story Company, whiGh ceased when the company was sold out ol Dahl famity ownership ui 2021. •. Golng ¢onc•m Glven Ihe balance In our general reserves and Designated Funds, set against Ihe budgeled in¢ome expenditure lor 2025.26, the Trustees have reasonable expe¢talions Ihat lh9 charity wlll continue to owats for the lorese8able fulule and have Iherelote adopted th8 goin9 conGem basis ol accounlTrng. St•tement oltrustee$' re$pon$lbHltles The Trustees, who are also the directors ol THE ROALD OAHL MUSEUM AND STORY CENTRE for the purp)s8 of company law, are sponslble lor preparing the Trustees. Report and Ihe fina￿la1 slalemenls in accordance with applicable law and Unlled Klngdom Accountlng Standards Iunlted Kingdom Gen8raltyAccepted A¢￿￿thg PractKel. Company and charity law requlre the directors to wepare fin￿a statsments for each financlal year. Under that law the direclors have elected to prepare the financial slalemenls in Kcordance with United Klngdom Generalty Accounted Practice (Uniled Kingdorn AccouThllng Standards and appllcable lawl, Under company law Ihe dlreclors musl not approve the finwcial slalemenls unless they gi￿ a Inje and lalr vlew ol the charity and Group and the Incoming resoUr￿S and application ol resources, Including Ihe income and expenditure of Ihe charity and Group for that P8rlod. In preparing Ihese finandal statements, Ihe Twslees are reqimred to., selecl suitable accounling policies and then appty Ihem consislentty., . obsetve Ihe methods and principles in Ihe Charilies SORP., make judgements and eslimaies Ihal are reasonable and prudent- - stsle whelher appllcable UK AccouThiing Slandards have been fol￿wed, subject to m*rial depwiure$ d15closed and explalnèd In the financial slalements,. and - prepare Ihe financial slatements on the goiNJ wKem basls unl8ss11 Is In4)propriate to presume thal the Charitable company wlll conltnue in operalion. The Tfustees are responsible for keeping adequate accounling records ihat disclose with reasonable accuiacy al any lime the financial position ol the Charitable company and enable Ihem lo ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding the assets ol the Charitable company and hence for tskln9 reasonable steps for the prevention and detection of fraud and olher irtegularities. In so fai as Ihe dlrectors are aware: - There Is no relevanl audit inforrnation ofwhKh Ihe chariils auditor is UnaW￿e.. and The directors have taken all steps that they oughl to h￿e tsken to mae themsefves aware of any relevant au￿11 information and to establish Ihal the auditor is aware ol Ihat infomtslion. THE ROALD DAHL MUSEUM AND STORY CENTRE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trvslees are responsible for the Maintenan￿ and integiity of the charity and financial infomiathon inchjded on the Charitable cornpanls website. Legislation in the United Kingdom goveming Ihe preparation and dissemination of financia statements may diller Irorn legislation in otherlurisdict¢ons. Audllor A resolution lor the appointment of SKS Business Semces Lld wilh SCB {Puounlantsl Ltd part of the SKS g￿up, as auditor of the charity was passed at IhèAJbnual General Meeknng in October 2024. Small company provl$loni Thls report has been prepared In accordance wllh th6 speaal proMskJns for smal CO￿￿leS undel Part15 ofthe CompanlesAcl 2c￿6. The trustees, report was approved by Ihe B0￿d of Twstees and signed on their behall by: 18obel Hunter Chalr Date: ,..................................... THE ROALD DAHL MUSEUM AND STORY CENTRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ROALD DAHL MUSEUMAND STORYCENTRE Oplnlon We have audited the financial statements of THE ROALD DAHL MUSEUM AND STORY CENTRE (the 'Charitable company'l for the year ended 31 MaTch 2025 which comprise the consolidated slalemenl ol financial aCt￿lI1e$ (the summary income and expendlture accounll, the Charity Balance sheet , the Consolidated Balance sheet and the Consolrdaled ststemenl of cash Ilows and notes lo Ihe financlal sialements, including signifKanl accounting policies. The financial reporiing Iramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporling Stand￿d 102 The Finanual Reporting Syamlard applicabl8 in the UK and RepublK of Irel￿￿ {Uniied Kingdom General￿ACCepted Acc￿nt￿l9 Pl￿t￿e1. In our opinion, the financial sLitsments'. give a true and laif vlèw ol the stale of the Group's and of Ihe parent charitable companls affairs as at 31 March 2025 and ol the Group's incoming resources and applicabon of resources, including its income expendiiure for Ihe year then ended., have been propety prepared in accordance with United Kingdom General￿ Accepted Accounting Practice including Flnanclal Rèporting Standard 102 The Financial Reporling Standard applicable in the UK ?￿d Republic of I￿land., and havè been Prepared in xcordance with the requirements of the Companie$Act 2006. Ba81$ lor oplnlon We conducted our audil In &cordarKe with Intemational Slandards on Audrtlng {UKI IISAS IUKII ￿plIcable law. Our rèsponslblllues under Ihose standards are further dèscribed in the Audilorfs respons￿ilit￿$ lor lh8 audil ollh& financial stalemenls section of our report. We are independent ol the Charitable company In ￿cordanCe wilh the ethical requirements Ihat are felevant lo our audit of the financlal slalemenls in ihe UK, induding Ihe FRC'S Ethical Standard, and we have luKill6d ovr other ethKal iesponsibililies in accordance with these requlrements. We beI￿ve lhat1￿ audll évidence we have obtained is sufficient and appro￿at8 lo W0￿de a basis for i)ur oplnlon. Concluslons relallng to golng ¢on¢•rn In auditing the financial statements, we have cOnch￿ed that the Iwslees, use of the going concern basls ol ¥wnting in the prepaiallon ol Ihe flnanclal stslem8nts Is appiopriale. Based on the work we have p8rfoM￿d, we not tdenlffj￿d any m*rfal vncertah)ties rdating to events or corwJitKins that Indlvldvally or ¢olle¢lwety, may cast signrficanl doubl on Ihe Charitable company's ajility lo continue as a golng concem lor a period ol al least ￿e1ve months from wh8n the fin￿￿01 slalements we authorised for Fssue. Our responsibilii¢es and the responslbllltles ol Ihe Tmstees wilh Tespect to going concem 8n dèscribèd In the relevant sections of thls report. Other Informatlon The other infomiats'on comprlses the InfonnatEon Induded In the annual report other than the financlal statements and our audllofs report therèon. The Twslees ate responsible for Ihe olher inlormation contslned within thè annud report Our oplnlon on the fIn￿claI sL*menls does not cover the other infonnatKin we do nol expres$ w lomi ol assurance concluslon thereon. In connectlon with our ￿di1 of the fina￿al stalèment our responsiblty is to real the other Inlomation ￿d, In doing so, conslder whether the othe¥ Informa￿on is materially inconsislenl with the finandal slatements 01 our knowledge obtained in the course ol the audit, or othe￿iSe appears lo be maleiialty misslaled. If we ideThlify such material in￿nsiStenC1eS or apparent material misslalemenls, wè are fequired to detemiine whether this gives rise lo a material misslalemenl in the financial slalements themselves. If, based on the work wè have perfom)ed, we conclude that there Is a materFal misstatement of this other informalion, we are required to rep)rt that fact. We have nothing to report In thls regard. Oplnlon8 on other mattern pmcrlbed by the Companie• Act 2006 In our opinion, based on Ihe work undertaken in the course of our audil.. the infomialion gwen in the trustees, rep)rt for the financial year lor vthlch the finandal statements are prepared, which includes the directors, report prepared for the purposes of company law. is consislenl with the financial ststemenls- and the directOTS' report included wilhin the tNstees' report has been prepared vi a¢coTdance with applicable legal requirements. 10- THE ROALD DAHL MUSEUM AND STORY CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROALD DAHL MUSEUMAND STORYCENTRE Matten on Tpthlch we are requlred to report by ex¢eptlon In the light of our knowledge and undeislanding of the charilable company its eni￿rOnment obtained in the course ol the audit, we have not identified malerial misstatements in the Truslees, ReF We have nothing lo report in Tespecl of the following matters in relation to which cm7p￿leS Acl 20C￿ requires us to rèport to you il, in oui opinion.. the Information gwen in the financial stslements is Inconslslent In any materfal respecl wilh the trustees, report,. or The parent charilable ￿MpanY has nol kept adequate and Suff￿lent accounb'n9 recoids. or retuins adequate lor our audit have not been recewed from branches nol visiied by us. or The parent charitablè company financial sl*ments are not in ￿reeMent with the accounling Tecords aNI ietums., or we have not recéived all the infO￿ation and explanatvjns we req1￿re for our wd The Twsiees were not entiued lo prepare the financial sL*8menls in acGordaw£ with the small companies reglmè and lake advantagè ol the small ¢ompanies' exemptions li preparing the Trustses. Report and from thg requirement to Prepare a Strategtc Report. R•8pon8lbllltles of Tru8t••$ As explained more lully in Ihe slalemenl of Ivusleès, responsibilities. Ihe Trustees, who are also the dirtsdors ol the Charilable ¢ompany lor the purpose of Company law, are responsible lor Ihe prepaiation ol the fmancial slalements and lor being satisfied that they give a true and falr view, and for suth internal control as Ihe Twstees dete￿nine is necess￿ to enable the preparation of finanGial statements that are free from material mlsslatemenl, wh8ther due to Iraud or eThor. In P￿Paring the finandal slatemenls, the Twslees are responsible lor assesslng Ihe Group's and the parent Charilablfr company's ability to continu8 as a going concern, disckssing, as applicable, matters related to going concem and using the going concein basis ol ac¢ounling unless the Trustees either intend to liquidate Group's or the parent charit￿￿ Corr￿anY or to caase opèrations, or have no iealistic alternative bul to do so. AudS10ls re$pon$lblllll•$ lor th• audlt of the ftnanclal statements We have been appointed as auditor under section 144 of Iha Chailhs 2011 and Teport In accordance wlih the Act and relèvant r8gulalions made or having effect Ihere under. Our objeclrves are to obtaln reasonable assumce about whèther the financial statements as a whole are free from mateTial mlsslalemenl, whether due lo fraud or erior, and to issue an Audiiols Report Ihat includes tyJT opinK)n. Reasonable assurance is a hlgh level ol assurance, bul Is not a guarantee that an audit conductsd in &cordance with ISAS IUKI will always detect a material misslatement when il exists. Mlsstalements can arise Irom fraud or error are consrdered malerial il, indMduaI￿ or in Ihe aggregate, they could reasonably be expected to influence the economic decisions of users taken on the ba515 01 thesè financial slalements. Irregularflles, Including fraud, are Instances of non-compliance wilh laws and regulations. We deslgn procedures In Ilne wllh our responsibililies, ouuined al)ove, lo delecl malerlal misslalemenls in re¥ect ol irregularities, includin9 fraud. The exlenl lo which our procedures are c4)able of detecting iTregularities, induding fraud, k8 delaled below. • Dlscusslons were held with, and enquirfes madè of, management and those tharged wilh g0Vem￿Ce wilh a vlew lo idenbtyng those laws and iegulalions that could be expected lo have a material impact on the fin8￿¢137 slalements, During the engagement team briefing, Ihe outcomes of these discusslons and enquiries were shared with the team. as well as considertAion as to where and how fraud may o￿lT in the entity. 11 THE ROALD DAHL MUSEUM AND STORY CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROALD DAHL MUSEUM AND STORY CENTRE The following laws and regulat￿n$ were Identified as bekng of signifKance to the entity: Those laws and regulations coNdered to have a threct effect on Ihe financial stalements Ind￿￿e UK financlal reportin9 Standards. Company Law, ChaiitiesA¢t, Tax Pènstons legistation. arKI distribulabl8 profits ￿gI￿ation. It is considered that thèm are ￿ I￿$ and regulalvjns ￿ which n(mwcompllwKe may be lundamenlal to th8 operating aspects ol the charity. AudS1 procedures vndertaken in response to the potenlial iisks relatirwj to Iwulaiii*s (which include fraud and non-compliance with laws and regulations) comprised of.. inquiries of management and those charged with g¢)vemance as lo whether the charitable company complies with such laws and regulalYJns,' enquiries with the same conceming any aclual OT Folentlal litigation OT claims; inspection of Televant legal correspondence., review of Board mlnules: lesling the appropriateness of entiies In the nominal ledger, including journal entries,. revlewlng transac￿On$ around the end ol the reporbng pwiod,. and tha p8rfom)an¢e of anatylcal woceduTes to Idenlty unexpected movements in aGGount balancès which may be indKative of fr￿d. No Instances of material non 8,752,477 29 Anatysls of cash & cash equlvalents GROUP 2025 GROUP 2024 CHARITY 2025 CHARITY 2024 Cash in hand Cash al bank and in hand 475 9.324.796 144 9,460,680 75 9.312,191 144 9,435,180 9,325.271 9,460,824 9,312,266 9,435,324 Total cash & ¢a$h equlvalents -32-