Company registration number: 04199994
Charity registration number: 1087998
Ruddington Framework Knitters Museum Limited
known as
Framework Knitters Museum
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2025
RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Contents
Ref¢ren¢e and Administrative Details
Trustees, Report
2to8
Statement of T￿￿tees, Responsibilitie5
Independent Examinees Report
Ioto 11
Statement of Financial Activities
12to 13
Balance Sheet
14to 15
Notes to the Financial Statements
16to32

Ruddington Framework Knitters Museum Limited
known as FrameTrvork Knitters Museum
Reference and Administrative Details
Charity ReEiStr8tion Number
1087998
Company Regislr8tion Number
04199994
The Charity is incorporated in England and Wales.
Chapel Street
Ruddington
Nottingham
NGII 6HE
Registered Office
Independent ExAmiDer
RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
Barclays Bank Pl
POBOX 18
High Street
Notiingham
NGI 6FF
Banker5
Page I

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Trustees, Report
The tn￿tee5, who are directors for the purposes of company law, present th¢ annual report together with the
fmancial statement5 of the charitable company for the year ended 31 March 2025.
Objectives And activities
Objects and ainL
The Framework KThitters' Museum is an independent. community-establi5hed working museum governed by its
Trustees. Located on a historically Significant site comprising frameshops, cottages, oulbuildings, gardens. and a
fornier chapel, the museum is dedicated to preserving and interpreting the heritage of framework knitting and its
impact on the East Midlands textile industry.
Our core aim is to Safeguard the eviden¢e of the living and working conditions of nineleenth-century framework
knitter5, whose craft shaped the growth of Ruddington village and contributed to broader industrial developments.
Through our collections, exhibition5. and educational programmes-including the Luddite story-we explore the
social, economic, and cultural dimensions of this history.
In 741ignment with contemporary values, the museum is committed to emb¢dding su51ainability across its operations.
Thi5 includes promoting enviromnental responsibility through slow craft practices, enhancing accessibility and
digital engagement. and ensuring financial and organisational resilience. We Strive to be a model of how heritage
institutions can honow the past while actively contributing to a more sustsinable future.
Public benefil
Over the past year, the Framework Knitters Museum has placed increasing emphasis on expanding public
engagement and embedding 5U5tainable practices across its operations. Through interactive workshop5. inclusive
events. and strategic partnerships with educational institutions and local organisations, the museum has fostered
deeper connections with diverse audience5. Sustainability ha5 become a guiding principle, reflected in our
PrO￿amming, infrastructure improvements, and commitment to slow craft and environmentally consciou5 practices.
These efforts not only enhance the visitor experience but also ensure that the museum continues to serve as a
resilient and relevant cultural resource for the community.
The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 2011 to have
due reg8rd to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The reporting period began with seriou5 con¢erns regarding escalating expenditure aThd c05t5, which were not being
offset by income. Although income from shop. café, and admissions increased, costs rose at a faster rate. Trustees
have continued to monitor and control expenditure closely.
PlanThing commenced for the Resilience Bid to the National Heritage Lottery Fund (NHLF), aimed at ensuring the
museum's sustainability. The bid focused on in¢ome generation and reducing running costs. including converting the
Me7￿nine level in the Chapel to create a more acc¢s5ible and comfortable space for staff. thereby freeing up
herita8e buildings for futtwe interpretation.
Page 2

Ruddington Framework Knitters Museum Limited
known as Frameivork Knitters Museum
Trustees, Report
Training and development efforts continued, with Stuart. our technical expert, providing training to staff and
volunteers both on-site and at external locations in Leicester and Halifax.
Volunteer recruttment remains a priority, with ongoing efforts to grow the team to 60 members, particularly to
support activities on Friday5 and Saturdays.
The museum received significant media attention. including a documentary by Arte TV on the Luddites. Visits from
New York playwrights, and a feature in Susan Calman'5 'Grand Day Oul, serie5. showcasing our dedicated staff and
volunl¢¢rs.
Volunteers parti¢ipated in a resCa￿h trip to the National TTUSt's Back to Backs in Birniingham, sparking valu&ble
discussions on interpreting working people's lives and the similarities to our ON￿1 historic site.
From May to July, the museum hosted the 'lnvisible Threads, exhibition by the Second Turning Textile Group,
featuring detailed and thoughtful textile work. Visitors engaged with the artists and participated in a 'wrapping and
weaving, workshop held in the museum gardens.
Mary Hawkins and Barbara Harrington-Tucker represented the museum at the Buckingham Palace Garden Paty,
receiving the King's Award for Volunteering.
The museum received a generous donation of £3.000 from The Friends of the Museum.
The museum was shortlisted for the Pride of Ruddington awards in th¢ Hospitality, category for Parker's Yard and
the 'Sport & Culture, Gategory for the Framework Knitters Museum. Parker's Yard was named n￿ner-Up. and the
mus¢um received a 'Highly Commended, recognition.
By June, mid-year financial concern5 persisted. with shop sales lower than expected and grant fimding falling short
of applications. Trustees continue to explore sustainable practices and alternative fijnding sources.
The mu5¢um hosted a Zero W&8te Applique Workshop with textile artist Rebekah Johnston. promoting Slow craft
practices and environmental awareness.
A Special event was held to celebrate the presentation of the King's Award for Voluntary Service to the museum.
volunteers and tnlstees. The aw8rd was fornially presented by Nottingham's Lord Lieutenant, Profe550r Veronica
Pickering. who praised the museum's outstanding ¢ommunity impa￿.
Support from Rushcliffe Borough Council enabled $ignificani digital and acce55ibility improvements. including a
£5.000 grant for web51t¢ updates, £2,500 for enhanced Wi-Fi infrastructure, and £2.550 for the cr¢ation of
360-degree access video.
The museum hosted a 'Sustainabl¢ Mu$eums' event led by MA Museum and Heritage Development students and
Dr. Rebekah Pirkering Wood, offering interactive workshops on sustainability in the mus¢um sector. Nfu Medi
student5 also ¢ontributed to the museum's outreach efforts through making short film5. Ive also bid farewell to our
Creative and Commercial Manager. Sarah Godfrey. whose contributions to commercial growth and Social media
engagement were invaluable.
Page 3

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Trustees, Report
The museum received two grants totalling £18.000 from the UK Shared Prosperity Fund and Rural England
Prosperity Fund to enhan¢¢ the visitor experience. This funding enabled the museum to complete its garden shelter
and fully accessible pathway which have 5in¢e been used for a wide range of events. workshops and activities.
Thanks to Nottinghamshire County Council. the museum participated in the Nottinghamshire Day event. Sculptor
Rachel Carther visited to discuss her project 'Standing In This Place,, aligning with the museum's themes of labour
and exploilation. We welcomed international visitors. many of whom discovered ancestral ties to framework
knitting. The museum w&$ honoured with the TripAdvi50r Traveller's Choice Award for the third consecutive year.
Additionally, we h05ted MP James Naish. who engaged with Trustees on the museum's achievementy and fvtur¢
plans.
The Ruddington Arts and Craft Society Summer Exhibition was displayed in the Chapel Gallery throughout
September and October. A free Cyanotype workshop held during Heritage Open Days attracted over 40 participants
of all ages, emphasising the importance of accessible progr4mnllng. Interdisciplinary Artist Monica C. Locascio
explored the museum's Griswold machines. drawing connections to her work with repurposed materials and black
holes.
In October, the museum received the first instalmentt of the £244,168 National Lottery Heritage Fund Resilience
Grant for the 'A Stitch in Time, project. This funding supports sustainability initiatives including replacing the gas
boiler, upgrading electrical systems and insulation, hiring a project manager, and engaging external expert5.
Volunteers were r¢cognized with the Marsh Volunteers in Learning Award for the East Midlands, presented at the
British Mu5¢um.
At the AGM in November. Trustees Dennis Jones. Anastasia Smith. and Julian Ellis stepped down after year5 of
dedicated service. We wel¢omed new Trustees Martha jaskO-La￿cn¢e, with over 25 years of museum experience,
and Sayali Goyal, a culturdl project leader and editor of Cocoa and Jasmine magazine.
The museum concluded the year with festive events in December including HTeath-making, tinsel workshops, and a
Victorian Christmas celebration. Th¢ Ruddington Yarn Ninj&8 contributed knitted mince pies, and Father Christmas
Vi51ted the museum cottage. Special recognition goes to Mary Hawkins, who completed her l.OOOth pair of
handwamiers. an outstanding contribution to the museum shop's success.
During the museum'5 annual winter closure in January and February, maintenance work was undertaken. including
the installation of new central heating in the frameshop. A major floor repair required the carefiil relocation of a
knitting frame, 5howca5ing the dedication and teamwork of our volunteers (and collective strength!).
The start of 2025 saw the board of trustees face challenges and development opportunities. Whilst we received
£1,632 from the Museurn Development Midlands Strategic Grant S¢heme (Trustee Network Grants), sUPPOrting
gov¢rnan¢e and trustee developmenL we also saw Chair of Trustees Ian Rowson step dowi unexpectedly due to ill
health. We thank him for hi5 service and leadership and dedication to seeing ihe constant development of the
museum. This created concern5 for the board, who put emergency measures in place to ensure the governance of the
museum remained stable in uncertsin times. Tn￿tee Graham Shuttleworth stepped in as Interim Chair from
February.
Page 4

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Trusteesl Report
By the end of this reporting period. the board sucGe55fully recruited David Longford into the role of Museum
Manager. Coming from roles at the Theatre Royal Nottingham and National Trust Children's County House at
Sudbury. his enthusiasm for community engagem¢nt and staff development will be of ￿at importance a5 we begin
thc d¢livery of the 'Stitch in Time. Proje¢L fimded by NHLF. David's began his role in April 2025, and therefore
th¢ impact of his presence throughout the year will be discussed in the report at the ne￿ AGM in 2026.
Parker's Yard continues to be a popular destination within Ruddington, supported by a strong and ¢ollaborative
relationship with Split S¢re¢n Coffee Co. Together, we have developed a vibrant café offering, including catering
for events and the introduction of evening supper clubs. which enhance the site's tsppeal and community
engagement.
However, a key challenge remains in clearly distinguishing the Gafé's commercial operations from the museum's
haritable activities. Many visltors are unaware that purchases mad¢ at the café do not directly support the
museum's charitable objective5. To address this, we plan to implement dedicated charitable giving stations and
improve on-site and digital communi¢ations to raise awarenes5 of how visitors can contribute to the museum's
sustainability and long-tem) development.
Space hire at the museum has remained steady over the past year, with regular bookings contributing to site activity
and community engagement. However, there ts significant potential for growth in this area. To maximi5e the
mu5eum'5 ¢omrnercial viabiltty, we aim to expand opportunities for both public and private hire, including hosting
even15, workshops. and corporate functions. Enhancing the visibility and appeal of OUT spares for external use will
be a key focus in the coming year. supporting our broader strategy to embed 5UStainable income generation ￿rosS
the museum's operations.
Framework knitting remains ¢l&ssified as Critically Endangered on the Heritsge Crafts Association's Red List,
indicating that the craft is at seriou5 risk of no longer being practised in the UK due to limited training opportunities
and financial viability. The Framework Knitters Museum is currently the only 51te in the UK where these traditional
skills are actively taught and demonstrat¢d. Our dedicated staff and volunteers continue to play a vilal role in
preserving and passing on the knowledge of framework knittin& ensuring its survival for futrjre generation5 and
embedding 5ustsinable craft practices at the heart of our mission.
The Trustee5 wish to express their sincere gratitrjde to the museum's generous funders and supporters. whose
contributions have been vital to our continued success. In particular. we acknowledge the support of The National
Lottery Heritage Fund. Arts Council England. The Jones 1986 Charitable Trust, Museum D¢v¢lopment Midland5.
and Rushcliffe Borough Council. Their investment has enabled us to deliver impactful programmes, improve
iDfra5tructUTe. and strengthen our long-t¢rn) sustainability. We remaiD deeply appreciative of their ¢ommilment to
OUT mission and heritage.
The Board of Trustee5 remains fully committed to upholding strong governance practices and ensuring that every
pound raised or ¢ontributed is used effectively and responsibly. We continue to prioritise transparency,
accountability. and value for money in all a5pe¢ts of the museum's operdtions and development.
Page 5

Ruddington FrameTrvork Knitters Museum Limited
known as Framework Knitters Museum
Trusteesl Report
The Tn￿te¢S extend their sincere thanks to all staff, volunteers, funder5, and supporters who ¢ontributed to the
museum's 5u¢¢¢ss during this period. Despite ongoing fuwicial challenges, the museum continue5 to thrive through
community eng&gement, public recognition, and strategic planning. The Trustees remain committed to ensuring the
fman¢ial sustainability and community relevance of the Framework KThitter5 Museum and will continue to guide it5
operation5 with careful oversight and a shared commilm¢nt to preserving and interpreting the heritage of framework
knitting.
FinADcial review
This year saw an increase in r¢sources of £95.148
Income increased to £258.212 from £127.997
The accumulated fiuids of the charity at 31 March 2025 were £343,194 which includes £153,766 of restricted funds
and £189,428 of unrestricted fuThds.
Policy on ￿erVeS
The Tru5tee5 have considered the reserves held by the museum as At 31 March 2025.
Reseryes are needed to ensure that the museum can meet its responsibilities for current a¢tivities and to meet it5 long
tem aims. The Trustees have reviewed the risks faced both short and medium tetm to ensure that the museum can
continue to operate on a going concern basis.
Fund5 designated for specific pu￿05¢5 are set out in the Thote5 attached to the financial ststements. The Trustees
ontinue to monitor the level of re5erYes and the long tern] aspiration remains - that th¢r¢ should be free reserves
¢qual to one year's operating c05t5.
Page 6

Ruddington Framework Knitters Museum Limited
known as FrameTrYork Knitters Museum
Trustees, Report
Trustees and officers
The trustees and officers serving during the year and since the y¢ar end were a5 follows..
Trustees..
Mr P F McGowan
Mr B Smith. Treasurer
Ms S Goyal (Appointed 20 August 2025)
Mr l Rowson (Resigned on 25 July 2025)
Mr G Shuttlworth (Resigned on 31 August 2025)
Ms A Smith (Re5ign¢d on 10 October 2024)
Ms S Godfrey (Resigned on 20 May 2024)
Ms S Lovett (Resigned on 20 May 2024)
Mr D R Jones (Resigned on io October 2024)
Ms M l Jasko-Lawrence (Appointed 01 October 2025)
Dr R E Pickering Wood
Professor S D Chapman, President
Sir N C0550ns OBE. Patron
Duke of Devonshire KCVO CBE DL, Patron
Chair:
Other Officers:
Structur¢> governance and m9nagemeDt
Ivalure ofgoverning document
The museum is a company limited by guarantee and a registered charity governed by the rules set out in the
Memorandum and Articles of Association.
Oryanisational s¢ructure
The Framework Knitters Museum is governed by a Board of Trustee5, who provide strategic oversight and ensure
the museum's long-tern] sustainability and public benefit. Operational management of the museum is delegated to
the Museum Manager, supported by a dedicated team of four additional part-time staff: the People and Culture
Manager. Fram¢5hop Technician Demonstrator. Museum Administrator, and Textil¢ Artist/DemonstratOT.
substantial and valued team of volunteers play5 a vitsl role in the museum's day-to-day operations. Their
contributions span a wide range of activities including visitor engagement, demonstrations. retail operations.
collections care. site maintenance. and the planning and delivery of events, Workshops. and interactive experiences.
Pag¢ 7

Ruddington Framework Knitters Museum Limited
knojvn as Framework Knitters Museum
Trustees, Report
The museum a150 benefits from the support of the independent Friend5 of the Museum group. who actively raise
funds to support its programmes and development. Professional guidance is sought from sector bodies such as
Museum Development Midlands, the Heritage Trust Network. and external consultants. ensuring that the M￿leUM
continues to operate in line with best practice and sector standards.
The annual report
proved by the trustee5 of the Charity on 12 November 2025 and signed on its behalf by:
Dr R E Pickering Wood
Chair
Page 8

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Statement of Trustees, Responsibilities
The trustees (who are also the directors of Ruddington Framework Knitters Museum Limited for the PUTposes of
company law) are responsible for preparing the ttustee5' report and the financial statements in accordance with
applicable law and United Kingdom Accountin8 Standards (United Kingdom Generally Accepted Accounting
Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland
Company law requires the trustees to prepare financial statements for each financial year. Under company law the
trustees must nol approve the financial statements unle55 they are satisfied that they give a true and fair view of the
state of affairs of the charitable company and of the incoming resources and application of resources, including its
income and ¢xp¢nditure, of the charitable company for that period. In preparing these financial ststements. the
tru5t¢¢s are required to:
sel¢rt suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP.
mak¢ judgements and estimate5 that are re&80nable and prudent:
State whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material
departures disclosed and explained in the financial statement5. and
prepare the financial slatements on the going concern basis unless it Is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting record5 that can disc105e with reasonable accuracy at any
ttme the financial position of the charitable company and enable them to ensure that the fmancial statement5 comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the Gharitable company and
hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities.
The tTU5tees are responsible for the maintenance and integrity of the corporate and financial inforniation included on
the charitable cornpany's website. Legislation governing the preparation and di55emination of financial statements
may differ from legislation in other jurisdictions.
Approved by the t￿Ste¢S of the Charity on 12 November 2025 and signed on its behalf by:
kering
Chair
Page 9

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Independent Examiner's Report to the trustee5 of Ruddington Framework Knitters
Museum Limited ('the Company,)
I report to the Charity trustees on my examination of the accounts of the Company for the year ended 31 March
2025.
Responsibilit1¢5 4nd bAsis of report
As the Charity's trustees of the Company (and a150 its directors for the purposes of company law) you are
responsible for the preparation of the a¢¢ounts in accordance with the requirements of the Companies Act 2006 ('the
2006 Act.).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006
Act and are eligible for independent examination. I report in respect of my examination of your Charity's account5
as carried out under section 145 of the Charitie5 Act 2011 ('the 2011 Act,). In carrying out my examination I have
followed the Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act.
Independent exAminer'5 Statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body lisled in section
145 of the 2011 Act. I confirn] that l am qualified to undertake the examination because l am a member of . which is
one of the listed bodies.
I have completed my examination. l ¢onfArn] that no matters have come to my attention in connection with the
examinatlOA giving me cause to believe..
accountirAg records were not kept in respect of Ruddington Framework Knitters Museum Limited as required
by section 386 of the 2006 Act. or
2. the accounts do not accord with those Tecords. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a 'true and fair view whiGh is not a matter con5id¢red as part of an
independent examination; or
4. the accounts have not been prepared in accordance with the methods and principle5 of the Statemenl of
Recommended Practice for accounting and reporting by charities lapplicable to charitie5 prep3ring their
accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)].
Page 10

Ruddington Framework Knitters Museum Limited
known ay Framework Knitters Museum
Independent Examiner's Report to the trustees of Ruddington Framework Knitters
Museum Limited ('th¢ Company,)
I have no concerns and have come across no other matters in connection with the examination to which attention
should be dra￿ in thi5 report in order to enable a proper understanding of the accounts to be reached.
Mr N Bonnello FCA
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
12 November 2025
Page 11

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Unrestricted
funds
Regtricted
fuDdg
TotAI
2025
Note
Ineome and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
38.232
18,570
24.126
633
29,528
147,123
185,355
18,570
24.126
633
29.528
Total income
111,089
147.123
258.212
Expenditure on:
Raising funds
Charitsble activities
(13.836)
87,562
(13,836)
149,228)
61.666)
Total expenditure
101,398)
(61.666)
163,064)
Net income
Tr4n5fers between funds
9,691
(340)
85,457
340
95.148
Net movement in fimds
9.351
85,797
95,148
Reconeiliation of fuods
Total fimds brought fonvard
180,077
67,969
248,046
Total fimds carried forward
21
189,428
153,766
343,194
The notes on pages 16 to 32 fonn an integral part of these fmancial statements.
Page 12

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Statement of Financial Activities for the Year Ended 31 March 2025
ncluding Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Unrestricted
funds
Restri¢ted
funds
Tot81
2024
Note
Income And Endowments from:
Donations and legacies
Charitable activities
Other trading activiti¢5
Investment in¢ome
Other income
30,603
20.565
26,807
456
27,916
21.650
52,253
20,565
26,807
456
27,916
Total income
106,347
21.650
127,997
Expenditure on:
Raising funds
Charitable activities
(16,993)
(108,315
(16,993)
(162,481)
(54.166
Total expenditure
Nel expenditure
(125.308)
54.166
(179,474
18,961
(32,516
51,477)
Net movement in funds
(18,961)
(32,516)
(51.477)
Reconciligtion of funds
Total funds brought forward
199.038
100,485
299.523
Total fimds carried forward
21
180,077
67.969
248,046
All of the ch￿Ity'S activitie5 derive from continuing operations during the above two periods.
The notes on pages 16 to 32 forni an integral part of these financial statements.
Page 13

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
(Registration number: 04199994)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed 45sets
Tangible &ssets
16
474,878
483,797
Current assets
Debtors
Cash ai bank and in hand
17
18
12,009
110,995
7,941
20,518
123.004
28,459
Creditors: Amounts falling due within one year
19
19,130
17.202)
Net current Aysets
103,874
11,257
TotAI assets less current liabilities
578,752
495,054
Creditors: Amounts falling due after more than one year
20
(235,558)
343,194
(247,008)
248,046
Net A55¢ts
Funds of the Charity:
Restricted income funds
Restricted funds
21
153,766
67,969
Unrestricted iticome funds
Unrestri¢ted funds
189,428
180.077
Tot41 funds
21
343,194
248,046
For the fmancial year ending 31 March 2025 the Charity was entitled to exemption from audit under section 477 of
the Companies Ath 2006 relating to small companies.
Directors, responsibilities..
The members have not required the Charity to obtain an V4udit of its accounts for the year in question in
accordance with section 476. and
The directors acknowledge their responsibilities for complying with the requirement5 of the Act with respect to
accounting records and the preparation of accounts.
The Thotes on pages 16 to 32 forn] an integral part of these financial statements.
Page 14

Ruddington Framework KDitters Museum Limited
known as Frameivork Knitters Museum
(Registration number: 04199994)
Balance Sheet as at 31 March 2025
The financial statement5 on pages 12 to 32 were approved by the trustees. and authorised for issue on 12 November
2025 and signed on their behalf by..
DrR
Chair
Pickering
Th¢ notes on pages 16 to 32 fonn an integrnl part of these fmancial stat¢m¢nt5.
Page 15

RuddingtoD Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
I Charity status
The Charity is limited by guarantee. incorporated in England and Wales, and consequently does not have share
capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the as5et$ of the Charity in
the event of liquidation.
The address of its registered office is:
Chapel Street
Ruddington
Nottingham
NGII 6HE
2 Aeeounting policies
Summary of significant Accounting policles and key accounting estimates
The principal flccounting poliGies applied in the preparation of these financial statements are set out below. These
policies have been con515tently applied to all the year5 presented, unless otherwise stated.
Statement of compliance
The fmanciai statements have been prepared in accordance with Accounting and Reporting by Charities: Stalem¢nt
of Recommended Pra¢tic¢ (applicable to charitie5 preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of ireland (FRS 102)) (issued in October 2019) (Charities
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and
the Companies Act 2006.
Basis of prep*rstitsn
Ruddington Framework Knitters Museum Limited 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 notes.
Going CODcern
The trustees consider that there are no material uncertaintie5 about the Charity's ability to continue as a going
oncern nor any significant areas of un¢¢rtainty that affect the carying value of assets held by the Charity.
Exemption from preparing a casb now Statement
The Charity opt¢d to early adopt Bulletin I published on 2 February 2016 and have therefore not in¢luded a cash
flow statement in these financial statements.
Page 16

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
Income and endowments
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 the income receivable ¢aD b¢ me&4ured reliably.
Dondftons and legoci
Donation5 ar¢ re¢o8ni5¢d when the Charity has been notified in writing of both the amount and settlement date. In
the event that a donation is subject to conditions that require a level of performance by the Charity before the
Charity is entitled to the fvnds, the income is deferred and not recognised until either those conditions are fully met,
or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these
condition5 will be fulfill¢d in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executOT
for the estate has communicated in ￿lting both the amount and settlement date. In the event that the gift is in the
fom) of an asset other than cash or a fmancial &8set traded on a recognised stock exchange. recognition is subject to
the value of the gift being reliably measurable with a d¢gr¢¢ of reasonable accuracy and the title to the asset having
been transferred to the Charity.
Grants receivable
Gr&nts are recognised when the Charity has an entillement to the fLmds and any condition5 linked to the grants have
been met. Where perforniance conditions are attsched to the grant and are yet to be mel, the income is recognised as
a liability and included on the balance sheet as deferred in¢orn¢ to be released.
Gift aid
Incoming resources from tax claims are recorded on a reGeivabl¢ basis.
Charitable acliviftes
Income from chaTitsble activities includes income recognised as eam¢d (as the related goods or service5 arc
provided) under contract.
Expenditure
All expenditure is recognised once there is a legal or wnstructive obligation to that expenditure, it 15 probable
settlement 15 required and the amount can be measured reliably. All c05t5 are allocated to the applicable expenditure
heading that aggregate similar costs to that category. Where costs cannot be directly atiributed to particular headings
they have been allocated on a basis con5iStent with the use of resources, with central staff costs allocated on the
basis of time spent, and depreciation charge5 allocated on the portion of the asset's use. Other support costs are
allocated based on the spread of staff costs.
Raisingfundg
These arc costs fftn¢urred in attracting voluntary income, the management of investments and those incurred in
trading activities that raise funds.
Page 17

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
Choritoble activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and Services for
its benefi¢iarie5. It includes both costs that can be allocated directly to such activities and those costs of an indirect
natur¢ necessary to support them.
Governance costs
These include the costs attributable to the ch￿Ity'S compliance with constitutional and statutory requirements.
including audiL strategic management and trustees meetings and reimbursed expenses.
Government grants
Government grants are rewgnised based on th¢ aCcn￿l model and are measured at the fair value of the ￿Set
received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are
recognised in income over the period in which the related costs are recognised. Grants relating to &85ets are
recognised over the expected useful life of the asset. Where part of & grant relating to an asset is deferred. it is
recognised as deferred income.
Taxxtion
The Charity is considered to pass th¢ tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it
meets the definition of a charitable company for UK corporation pu￿OSeS. A¢¢ordingly, the Charity is
potentially exempi from taxation in respect of income or capitsl gains received within Categories covered by Chapter
3 Part I l of the Corporation Tax Act 2010 or Section 256 of the T￿ation of Chargeable Gains Act 1992. to the
extent that such income or gains are applied exclusively to charitable purposes.
Tangible rued a8setS
Individual f￿ed assets ¢osting £500.00 or more are initially re￿rded at cost, less any 5ub5¢quent accumulated
depreciation and subsequent accumulated impairnient losses.
DepreciAtion and amortisation
Depreciation 15 provided on tangible fLxed assets so as to ￿lte off the cost or valuation, less any estimated residual
value, over their expected useful economic life as follows:
A55et clas5
Freehold Property
Equipment and f￿8
HLF equipment
DepreciatlOD method and rJt¢
20/0 on cost
15 /0 on r¢ducing balance
20 % straight line
Stock
Sto¢k is valued at the lower of cost and estimated selling price less ¢osts to complete and 5¢11, aft¢r due regard for
obsolete and Slow moving stocks. Cost is determined using the f￿st-In. f￿st-oUt (FIFO).
Page 18

Ruddington FrameTrYork Knitter8 Museum Limited
knoiyn as Framework Knitters Museum
Notes to the FinaDcial Statements for the Year Ended 31 March 2025
Trade debtors
Trade debtors are amounts due from cu5tom¢rs for services perfonncd in the ordinary COUTSC of business.
Trade debtors are recognised initially at the transaction price. A provision for th¢ impairnient of trade d¢btors is
established when there is objective evidence thai the Charity will Dot be able to collert all amounts due according to
the original ternis of the receivables.
Cash and ¢¥sh equivalents
Cash and cash equivalents COrnPri5e cash on hand and call deposits. and other short-tenn highly liquid investments
that are readily convertible to a knowTr amount of cash and are Subject to an insignificant risk of change in value.
Trade creditors
Trade ¢reditors are obligations to pay for good5 or services thai have been acquired in th¢ ordinary course of
busines5 from suppliers. Accounts payable are Glassified as currenl liabilities if the Charity does not have an
unconditional right. at ihe end of the reporting p¢riod. to defer settl¢m¢nt of the creditor for at least twelve months
after the reporting date. If there is an unconditional righi to defer settlement for at least twelve months after the
reporting date. they are presented as non-¢urrent liabilitie5.
Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Intere5t-bearing borrowings
are subsequently Ca￿led at wnortised cost. wtth the difference between the proceeds. net of transartion costs, and the
amount due on redemption being recognised as a charge to the Statement of Financial Activitie5 over the period of
the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and 15 included in interest payable and
similar charges.
Borrowings are classified as cu￿ent liabilities unles5 the charity has an unconditional right to defer settlement of the
liability for at least twelve months after the reporting date.
FuDd Structure
Unrestricted iD¢ome fjjnds are general funds that are available for use at the trustees discretion in furtherance of the
objectives of the Charity.
Designated funds are unr¢stricted funds Set aside for specific purposes at the discretion of the trustees.
Restricted income fund$ are those donated for use in a particular area or for spccific purp05e5, the use of which is
restricted to that area QT purpose.
PY4ge 19

Ruddington Framework Knitters Museum LAmited
knoivn as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
PeDSiOnS and other post retirement obligations
The Clwity operate5 a defined contribution pension scheme which is a pension plan uThder which fixed contributions
are paid into a pension fund and the Charity has no legal or constructive obligation to pay further contributions even
if the fund does not hold Sufficient assets to pay all employees the benefits relating to employee service in the
cunent and prior period5.
ContrTbutions to defined contribution plans are recognised in the Ststement of Financial Activities when they are
due. If contribution pa)Tnents exceed the contribution due for service, the excess 15 recognised as a prepayment.
FiDaDeial iostruments
ClÈusification
The company only has fmancial assets and financial liabilities of a kind that qualify &8 basic financial instruments.
Basic fmancial instruments are initially recogThised at transaction value and subsequently measured at their
5¢tt1em¢nt value with the exception of bank loans which are subsequently measured at amortised cost using the
effethiv¢ interest method.
3 Income from donations and legaeies
UDre5trieted funds
DesigDAted
General
Restricted
funds
Tot81
2025
Donations and legacie5;
Donations from ¢ompani¢5. trusts and
similar proceeds
Donations from individuals
Legacies
Grants, including capital grdnts.
Govemmertt grants
Other grants
Regular giving and ¢apitai donations
18.000
6,782
500
18,000
8,304
10.500
1,522
10,000
132.134
10.467
3,000
147.123
132,134
13.417
3,000
2,950
10,000
28,232
185,355
Page 20

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
Unrestrided
ruDd5
General
Restricted
funds
Total
2024
Donations and legacies.
Donations from companies, tsusts and similar proceeds
Donations from individuals
Grants. including capital grants;
Government grants
Other grants
18,000
6.400
18,000
,152
1,752
953
5.250
15,898
4,000
16,851
9.250
30.603
21.650
52,253
4 Income from cbarit4ble activities
Unrestricted
funds
General
Total
2025
Admission in¢ome
18,572
18.572
Unrestrieted
fuods
GeDer•l
Tot41
2024
Admi55ion income
20,565
20.565
S Ineome from other trading activiti
Unrestricted
fund5
GenerAI
TotAI
2025
Trading income.
Sales of goods and services
Events income.
Other events in¢ome
22.657
22.657
1.469
1.469
24,126
24.126
Pag¢ 21

Ruddington Framework Knitter5 Museum Limited
known a5 Framework Knitters Museum
Iyotes to the Financial Statements for the Year Ended 31 March 2025
Unrestrieted
runds
GenerAI
Total
2024
Trading income"
Sales of goods and services
Events income.
Other events income
26.154
26,154
653
653
26.807
26,807
6 Investment income
Unrestricted
funds
General
Total
2025
Interest receivable and similar income;
Interest r¢c¢ivable on bank deposits
633
633
633
633
Unrestricted
funds
General
Total
2024
Interest receivable and similar income.
Int¢r¢5t re¢eivable on bank deposits
456
456
456
456
7 Other income
Unrestricted
funds
General
Total
2025
Rental income
29.528
29,528
Unregtricted
fuDd5
Gener*1
TotAI
2024
Rental income
27.916
27,916
Page 22

Ruddington Framework Knitters Museum Limited
known as Frameivork Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
8 Expenditure on r4isin2 funds
*) Cosls of trading activities
UDre5tricted
fund5
Gener*1
Total
2025
Costs of goods sold
13.836
13.836
13.836
13,836
Unrtstricted
funds
General
Total
2024
Costs of goods sold
16,993
16,993
16,993
16,993
9 Expenditure on chAritable 4ctivitle8
Unrestricted
funds
General
Re5trieted
funds
Total
2025
Wages and salaries
Employers NI
Rates and water
Light and heat
Insurance
Repairs and maintenan¢e
Telephone and internel
otTice expenses
Subscriptions
Staff Training and recruitment
Travel and subsistence
Advertising
L¢sAI and professional
Bank charges
29,577
603
2,788
7.294
4.076
8,905
540
1.476
322
71
417
861
2,103
778
14,164
70
334
2,795
1,036
21.387
3,019
4.403
43,741
673
3,122
10.089
5,112
30.292
3,559
5.879
322
1.073
483
5,986
,232
778
E.002
66
5.125
6.129
Pase 23

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
UDre5tricted
funds
General
Restricted
funds
Total
2025
Depreciation
Loan interest payable
7.544
18,608
1,375
8,919
18.608
85,963
60,905
146,868
Unrestricted
funds
Genergl
Restricted
funds
Total
2024
Wages and Salaries
Employer pension
Rates and water
Light and heat
Insurance
Repairs and maintenance
Telephone and internet
Office expenses
Subscriptions
Staff Training and recruitment
Travel and sub5i5tence
Advertising
Legal and professional
Bank charges
Depreciation
Loan intsrest payable
39,607
672
1,615
13.645
5.056
5,844
1.602
4.479
334
739
310
762
2,932
888
7.633
19,472
15.631
258
55.238
930
1.615
13.645
5.056
35.411
1.602
5,669
334
1.508
310
762
8.308
888
9,008
19.472
29,567
1,190
769
5,376
1.375
105,590
54,166
159.756
In addition to the expenditure 8nalysed above, there are also governance costs of £2,360 (2024 £2.725) which
relate directly to charitsble a¢tivities. See note 10 for further details.
Page 24

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
10 Analysis of governance 4nd support costs
Governance costs
Unrestrieted
funds
Geller41
Restricted
funds
Total
2025
Independent examiner fees
Examination of the financial statements
1.822
538
2,360
1,822
538
2.360
Unrestricted
funds
General
TotAI
2024
Independent examiner fee5
Examination of the financial statements
2.725
2.725
2.725
2.725
I l Nel incominWoutgoing resources
Net incomingl(ouigoing) resources for the year include..
2025
2024
Depreciation of fixed a5$ets
7,544
9.008
12 Trustees remuneration Ind expenses
During the year the Charity made the following transaGtions with trustees:
M5 S Godfrey
Ms S Godfr¢y received remuneration of £7.398 (2024: £21,965) during the year.
Ms S Godfrey is the manager of the site and as such receives a salary.
Mr I Rowson
Mr l Rowson received remuneration of £Nil {2024'. £3.630) during the year.
Ms S Lovett
Ms S Lovett re¢¢ived remuneration of £15.558 {2024'. £14,839) during the year.
No trustees have received aTJy reimbursed expenses or any other benefits from the charity during th¢ year.
Page 25

RuddingtOD Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the FAnancial Statements for the Year Ended 31 March 2025
13 St*ff Costs
The aggregate payroll costs were as follows:
2025
2024
Staff costs during the yearwere:
Wages and Salaries
Pcn5ion costs
43.741
673
55.238
931
44,414
56,169
The monthly average number of persons (including senior management I leadership team) employed by the Charity
during the year expressed as full time equivalents was as follow5:
2025
No
2024
Museum staff
Management
No employee received emoluments of more than £60.000 during the year.
14 Independent examiner's remuneration
2025
2024
Examination of the fmancial statements
2,360
2,725
IS Taxation
The Charity 15 & registered ¢harity and 15 therefore exempt from t￿tiOn.
Page 26

Ruddington Frameivork Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
16 T4Dgible fixed assets
L4nd and
buildings
Furniture and
equipmeDt
Total
Cost
At l April 2024
570.604
65,981
636.585
At 31 March 2025
570.604
65,981
636.585
DepreciAtion
Ai l April 2024
Charge for the year
90,186
8.412
62,602
507
152.788
8,919
At 31 March 2025
98,598
63.109
161,707
Net book value
At 31 March 2025
472.006
2,872
474,878
At 31 March 2024
480,4 I8
3,379
483.797
17 Debtors
2025
2024
Trade debtors
Prepayments
VAT recoverabl¢
2,465
5.314
4,230
2,497
4,951
493
12.009
7,941
Page 27

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
18 Cash and cash equivAlents
2025
2024
Cash on hand
Cash at bank
81
110.914
32
20.486
110,995
20,518
19 Creditors: amounts falling due within one year
2025
2024
Bank loan5
Trade Creditors
Other taxation and social s¢¢urity
Other creditors
Accn￿lS
8,020
5,784
395
4,382
6,130
i.oii
632
5,047
4,931
19.130
17,202
Creditors due within one year includes the following liabilities, on which 5e¢urity has been given by the Charity:
2025
2024
Bank108ns and overdrafts
5,125
4,3 82
The bank loan is secured by w?y of a mortgage over the freehold property of the Charity dated October 2017.
20 Creditors: #mounts f*lling due after one year
2025
2024
Bank loans
235,558
247,008
Creditors amounts falling due after more than one year includes the following liabilities. on which security has been
given by the Charity:
2025
2024
Bank loans and overdrafts
235,558
247.008
Included in the creditors are the following amounts due after more than five years:
P￿¢ 28

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
2025
2024
After more than five years by instalments
203.480
229.478
Bank loans and overdrafts after five years
Repayable over 25 years at an interest rate of 3.5 % over base rate.
21 Funds
BAlanee at
31 MArch
2025
Balance It I
April 2024
Incoming
resour¢¢s
Resources
expended
Transfers
Unrestricted funds
General
Unrestricted income fimd
180,077
101.089
(101,398)
(340)
179,428
Designated
A Stitch In Time
10,000
10.000
Total unrestricled funds
180,077
111.089
(101,398)
(340)
189,428
Restrirted funds
Museum Development East
Midlands
Museum Development Fund
Frameshop Fund
HLF Bid Writing Fund
Workforce Development
A Stitch In Time
Access & Mobility
56.758
4,693
2,727
3.060
731
10,815
(1.375)
(4.339)
(2,275)
(3,400)
(597)
(46.851)
(2.829)
66.198
354
452
340
134
85,283
1.345
132.134
4,174
Total restricted fuDds
67,969
147.123
(61.666
340
153,766
Total funds
248.046
258.212
163.064
343,194
P8ge 29

Ruddington Framework Knitters Museum Limited
knojvn as Framework Knitters Museum
Not&8 to the Financial Statements for the Year Ended 31 March 2025
BAlance at I
April 2023
Incoming
resources
Resources
expended
Bal4nee At 31
March 2024
Unrestrieted fund5
General
Unrestricted income fund
199,038
106,347
(125,308)
180,077
Restricted
Museum Development East Midlands
Museum Development Fund
Frameshop Fund
Garden Fund
HLF Bid Writing Fund
Workforce Development
58,132
40,878
1,475
(1.374)
(37,185)
56,758
4.693
2.727
1,000
1.252
12.838
3.060
3,500
(12.838)
3.060
731
(2,769)
Total restricted funds
100.485
21,650
54.166)
67,969
Total funds
299,523
127.997
179.474)
248,046
The specific purposes for which the funds are to be applied are as follows:
A Stitch in Time
following:
•lnstall 5e¢urity and energy efficiency improvements. including fire system upgrade, alarnl system. new insultstion.
boiler replacement, improved Wi-Fi. and electrical wiring improvements.
.Ensure high visibility a¢knowledgement of The National Lottery Heritage Fund and National Lottery players on
site, online and in all activities.
•Hire the consultants as outlined in the application fonn and budget to undertake resilience works in line with the
Heritage Fund'5 procurement approach.
•Hire an external evaluation consultant to undertake a project evaluation.
•Implement findings from recent accessibility audit for under-served communities, including a collections review.
community consultation, BSL training, website improvements and 360 tours of inaccessible upper floors
•Update the business plan and review fundraising approach. including commercial and retail offer to generate new
income strearns
.Upgrade to a people management software for employee and volunteer dat4 and provide training opportunitie5
.Recruit a Museums Manager (28 months at 0.8 FTE) to oversee the project and deliver the programme
4Undertake capithl work5 to the Chapel mezzanine to install a fully accessible office space
NHLF Bid WritiThg - To commission a consultant to prepare a NLHF funding bid (focus on organi5ational
sustaiThability) and create a plan of other potential funders to approach.
Securing the Sustsinability of the Framework Knitters Museum. The scope includes the
Page 30

Ruddington Framework Knitters Museum Linlited
knoivn as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
Access & Mobility - Improve or Create tourism. Culture or heritage assets to better include socially excluded people
a¢¢essing support. Support mean5 provision to re-integrate with society and better their life chances. Socially
cxcIu5ions m¢ans being excluded from society, or parts of Society, as a result of unemploymenL financial hardship,
youth or old-age, ill-health, substance abuse or dependency. discrimination on the grounds of se& race, disability,
ethnic origin. religion. belief. creed, sexual orientation or gender reassignment, poor educational or skills attainment,
relationship and family breakdow￿ poor housing and crime.
Workforce Development Funding towards irnproving the recruitment, skills and development of volunteer5 and
staff with a view to making the visitor experience safer and more accessible.
The Frame Shop - Funds provided through donation5 by individuals for the expres5 purpose of supporting the Frame
shop, to provide repairs and enhance the visitor experience through supporting th¢ Frame Shop Technician.
including staff costs and training.
The Museum Development Fund represents fimding for the Purpose of the development of the ground floor of Gunn
Cottage into a visitors, centre, Shop and cafe. Developments were capitslised and included with freehold building.
Analysis of net assets between funds
Total funds 4t
31 March
2025
UDre5tricted funds
General
Design4ted
Restricted
runds
Tangible fixed assets
Current assets
Current liabilitie5
Credilor5 over l year
408,881
25.235
(19,130)
(235.558)
65.997
87.769
474,878
123,004
(19,130)
235.558)
10,000
Total nel assets
179,428
10,000
153,766
343,194
UDre5tricted
funds
General
Total funds at
31 MaTch
2024
Restricted
funds
Tangible fixed assets
Current assets
Current liabilitie$
Creditors over l year
387,888
39,197
95.909
{10.738)
(17.202)
483,797
28,459
(17,202)
247,008)
(247.008
Total net assets
180,077
67,969
248.046
Page31

Ruddington Framework Knitters Museum Limited
known as Framework Knitters Museum
Notes to the Financial Statements for the Year Ended 31 March 2025
22 Related party transactions
During the year the Charity rn￿¢ the following related paty transactions:
Mr G Sbuttleworth
(Fomer trustee)
During the year, a £Nil (2024: £1.030) donation was received from the Trustee. At the balance sheet date the amount
due tolfrom Mr G Shuttleworth was £Nil (2024 - £Nil).
Mr P MeGowan
(Trustee)
During the year, a £Nil (2024.. £500) donation was received from the Trustee. At the balance sheet date the amount
due tolfrom Mr P McGowan £Nil (2024 - £Nil).
Professor J G Ellis
(Forn]er Tn￿te¢)
During the year, a £150 (2024.. £Nil) donation was received from the Trustee. At the balance sheet date the amount
due tolfrom Professor J G Ellis was £Nil (2024 - £Nil).
Page 32