COMPANY NUMBER: 04348168
REGISTERED CHARITY NO: 1090327
BRIDPORT MUSEUM TRUST LIMITED
(COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL)
REPORT AND Fll+lANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

BRIDPORT MUSEUM TRUST LIMITED
INDEX TO REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page No
Reference and Administratkve details
2-10
Trustees. Annual Report (including Directors. Report)
Ii
Independent Examiner's Report
12
Statement of Financial Activities (including Incom¢ and Expenditure Account)
13
Balance Sheet
14-20
Notes to the Financial Statements

BRIDPORT MUSEUM TRUST LIMITED
IIEPORT AND FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Directors and Trustees
The Board of Trustees constitutes directors of the company for the purpose of company law and Trustees
for the purpose of charity law. Trustees serving during the year and since the year end were as follows:
Anna Bright - Chair (retired 25 April 2024)
Camilla Hampshire
Professor Karen Hunt
Martin Isaacs
Emma Pell (Squire) - Chair (appointed 25 April 2024)
Amanda Streatfeild
Sarah Williams (retired 31 May 2024)
Secretary
Martin Isaacs
Registered Office
The Coach House. Gundry Lane
Bridpor¢ Dorset DT6 3RJ
Bankers
Nat West plc
22 East Street
BridporL Dorset DT6 3LG
Flagstone Investment Management Ltd
1st Floor. Clareville House
26-27 Oxendon Street
London SWI 4EL
Independent Examiner
Scott Vevers Ltd
Chartered Accountants & Registered Auditors
65 East Street
Bridport
DorseL DT6 3LB
Company Number
04348168
Charity Number
1090327

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORD
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and financial statements of the charity for the year ended 31
March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice
(SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial
statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts and comply with the Articles of Association, the Charities Act 201 I, the Companies Act
2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the
UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin I published on 2
February 2016).
Objeclives andAelivities
The Charity's objectives, set out in Article 2 of the Articles of Associatioffj are 'to advance the education
of the public in Bridport and the surrounding area in particular through the provision of a museum,.
Bridport Museum is operated by the TrusL and is a fully accredited museum. To further learning within
the community, the Trust supports research of its archive and artefacts through a Local History Centre
open one day a week, with further remote support foT people who need digital access.
The Trust plays an active role in the cultural life of the town, supporting local events and festivals. The
Trust is a member of the Jurassic Coast Museums Partnership and has a si￿)ifiCant role in supporting the
Jurassic Coast Trust's Strategic Management Plan. Our collections and geological displays help to deliver
against many of the strategic objectives within this plan to promote and conserve the World Heritage Site,
thus lending significance and wider context to our items.
How Objeclives andAcliviti'es Deliver Public Benefit
Through providing an open and welcoming Museum. events and activities. exhibitions, collections care
and sharing local archives. as described in this repo¢ the Trustees consider that the Charity has complied
fully with its duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance
published by the Charity Commission.
The Museum is committed to operating ethically and subscribes to the Museums Association's Code of
Ethics.
Bridportmuseum Trust Colleclions
The Trust cares for around 20,000 objects, which refl¢¢t many aspects of the history of the town and
suffounding area. In addition. there are approximately 30,000 photO￿aphS or images in the Collection.
Since 2012 the Collection has included the Sanctuary Rope and Net Collection and paper archives. which
record the history of the dominant industy which has shaped the town.
The Museum is a member of both thc national and Dorset branches of the Museums Association. The
Museum's Collections Development Policy was reviewed and Updat￿ in June 2023 to take into account
the findings of our community-engaged coll¢ctions review project The Right Stuff (discussed further
below). Th¢ Museum's collecting area now comprises the following parishes." Allington. Askerswell,
Bettiscombe. Bothenhampton, Bradpole, BridporL Broadoal Burton BradstocK Channouth. ChideocK
Chilcombe, Dott¢ry, Little Bredy. Litton Cheney, Loders. Long Bredy, Marshwood. Monkton Wyld,
Morcombelake. Neth¢rbury, North Poorton, Pilsdon, PowerstocL Puncknowle, Salway Ash. Shipton
Gorge, Stanton St Gabriel. Stoke Abbo¢ Swye, Symondsbury, Walditch, Whitchurch Canonicorum,
Wootton Fitzpaine..

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Prem£se
The Trust operates across three sites- the Museum, The Grove and the Coach House. July 2023 saw
major leak in the Coach House which required the swift transfer of artworks from the affected area to The
Grove, significantly reducing available work space. From I, September 2024 we took over additional
space at The Grove, which should address this issue. The Coach House leak had a lengthy and
appreciable impact on the general use of the building and. in particular, on conservation Work. In late
2023 we commissioned an architect with extensive relevant experience to draw up an initial feasibility
study on refurbishment and development works on the building, primarily to underpin a bid to Dorset
Council's Capital Leverage Fund: volunteers assisted in drawing up the bid. Although the bid was
unsuccessful, the feasibility study will infonn the overall review of how we use our current properties and
an overall strategy on how that can be maximised.
As ever, thanks go to our three maintenance volunteer4 who keep on top of many of the day to day tasks
such as testing the fwe alarn]. as well as undertaking basic maintenance.
SÉaffandHuman Resources
The year saw continuing significant changes to staffing. Two new freelance roles were recruited in March
2023 to work alongside Collections Consultant Tim Burge on The Right Stuff project: a Project &
Engagement Manager (Victoria Northwood) and a Collections Officer (Graham Bowen). Shortly
afterwards one of the two job-share Museum Managers (Sophie Bull) went on maternity leave, and a
temporary appointment was made to her role {Emma Luckraft). Helen Horler (the other job-share
Museum Manager) stepped down in December 2023 for family reasons and Emma Luckraft (Sophie's
maternity cover) left in January 2024 to tske up pernlanent employmenL Victoria Northwood has
provided limited management cover on a freelance basis since January 2024.
Sophie Bull decided not to return after maternity leave. and the Board took the decision to recruit a full-
time Volunteer Manager on an 18 month contract while we review the Trust's strategy for the medium to
longer term future. We were fortunate to recruit Michelle Caesar to this role in July 2024. The Board
¢xpress their gratitude to the staff who have departed during the period for their hard work and wish them
well for the future.
Volunteers
The Board are deeply indebted to our volunteers who support all aspects of the Trust's activity as detsiled
in the following sections. With the changes to the Trust's staffing structure in 2022 and subsequent staff
turnover, trustees and volunteers have provided invaluable support for administrative and central support
functions, including the review and updating of policies and procedures required for our Reaccreditation
submission.
The sustainability of the Trust and all its services in the post-pandemic world depends on an active and
engaged group of volunteers. The volunteer-led 'Building Connections, programme, initiated in 2022 to
improve collaborative working across groups and sites, continued with a further event in May 2023 to
showcase four of the projects that had b¢en initiated or developed since the previous year. The event
covered topics including: a new series of talks open to the public, tours for volunte¢rs of the Collections
and Local History Centre. updat¢ on the actÉvities of the EducationlLearning team. both in the museutn as
well as outreach, and a volunteer skills audit together with capturing suggestions for further Projects.
Volunteers continue to enjoy engaging with the public who visit the museum or contact the Local History
Centre and are consistently appr￿lated for their friendly and inforniative welcome. There are regular
opportunities for the volunteer team to meet. and staff provide e-mail updates on a weekly basis. A
prO￿amMe of staff and volunteer training was delivered July- September 2023 as part of The Right
Stuff project.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES. ANNUAL REPORT (NCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Volunleers(conÉd)
Sessions were delivered on Display and Interpretation by Vicky Dawson, on Documentation and
MODES software by Tim Burge. on Collections Care and Marking and Labelling Objects by Helena
Jaeschke and on Handling and Cleaning Objects by Kayleigh Spring. Volunteers from neighbouring
Beaminster Museum and West Bay were invited to participate in the training programme and in February
2024 we gratefully took up a reciprocal offer from West Bay Discovery Centre for volunteers to join their
First Aid training.
During this financial year volunteers have contributed over 5,750 hours to the Trust (compared to around
4,000 hours over the same period 2022-2023). Before the pandemic, volunteers contributed around 5,000
hours per year, and we are pleased to see volunteer hours recovering in the post-pandemic world. A
house-keeping exercise on our volunteer records identified that the number of active volunteers is now
around 50 (less than the 65 reported last year). The Trust lost a dedicated and enthusiastic Museurn
volunteer, Lesley Keatley, in December 2023. A donation was made to the family's chosen charity in her
memory and the Board wish to express their gratitude for her commitment and contributions to our work.
Achievements (md Performance
Highlights from this yeaT include:
Accreditation
Due to the pandemic. Arts Council England had further postyoned the date for the Museum's
Reaccreditation submission to 8 September 2023. Staff, volunteers and trustees worked together to
prepare for this cnJ¢ial assessment, which demonstrates that the Trust continues to meet sector standards
in all its operations, policies and practices. We are pleased to report that the Accreditation panel awarded
the Trust Full Accreditation status on 9 November 2023.
The Right Stuff Project
The Right Stuff, a three-year community-engaged Collections review projecL funded by the Esmée
Fairbairn Collections Fund, administered by the Museums Association, launched in October 2019. The
timescal¢ for the project was extended due to the pandemic and staff changes, and the project re-stsrted
with new project workers in March 2023.
Between May and September 2023 15 'Community Curators, from BTidport and the Su￿ound1ng arva
reviewed the collections relating to their parish held by the Museum, and selected objects for inclusion in
a fmal project exhibition which was on display October 2023 - July 2024.
Audience feedback from project activities which took place 2021-2022 (including two exhibitions, 'The
Right Stuff and 'Curalor or Chaos? ) helped to inforni a refreshed Collections Developtnent Policy
which was submitted as part of the Museum's Accreditation return in September 2023. It also helped to
inforni the creation of a collections assessment guide which will b¢ used to support both acquisitions and
disposals going forward. On 28 June 2023. the project Collections Consultant Tim Burge and our
Collections Volunteer Shelagh Ball presented a paper at an online Museums Association conference:
'The Future of Museums: Disposal,. Since then we have received enquiries from around the UK fro
other Museums starting a review and rationalisation process themselves. A case-study sharing learning
from the project is currently in preparation, to be published in 2024.
Museum and Shop
The Museum was open April- D¢￿mber 2023, re-opened for the February half-terni 2024, and then
at the end of March to coincide with Easter Weekend. During the financial year we had a totsl of 3.883
visitors. including 793 children and 574 adults admitted without charge. the latter were primarily
carers or repeat visitors. The figures represent an increase of just under 5 % on the previous year, but
are still a cause for concern.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDTNG DIRECTORS. REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Museum and Shop (contd.)
Our front of house volunteers continue to enjoy engaging with the public who visit the museum and are
highly appreciated for their friendly and inforniative welcome. They also contribute advice on shop stock
items and liaise with suppliers. A leafleL "Boozy Bridport" was published by the Museum and promoted
locally. It proved so popular that a second reprint was required. the cost of which was generously funded
by a Bridport pub. The Makers Group continue to apply their handicraft skills to create rope and cord and
make unique items for sale in the shop. Over the financial year the Makers, items accounted for around
50% of the value of total shop sales. During the year the group started producing packaging with
handmade netting. reducing plastic waste and showcasing even more BrAdport Museum skill.
During 2023 the Museum participated in South West Visitor Insights: an audience evaluation programme
for museums and cultural organisations to gain an understanding of and build an evidence base of
knowledge about their audiences. The final report was received from Museum Development South West
in February 2024 and we have since received raw data from the survey and guidance which will help us
to take this work forward.
Exbibitions and Events
The Museum hosted a range of exhibitions and events throughout the year to encourage repeat visits.
We made good use of the temporary display cabinet in the Museum's front gallery with a Coronation
themed display from May to July in 2023. As July was Plastic Free month we presented a display of
modern plastic vs non plastic items from the collection, and in September 2023 a further display was
created to coincide with International Knot Tying Day.
The Museum's temporary exhibition gallery hosted a collection of paintings by Bridport artist Jules Cross
during the summ¢r of 2023. this was replaced in October 2023 by the community curated exhibition
related to The Right Stuff projecL which included both objects from the Museum's own collection and
items lent from members of the community. In February 2024 Bridport was announced as the inaugural
Dorset Town of Culture and as part of this initiative the Museum was on¢ of three venues hosting a
National IA)ttery Heritage Funded retrospective exhibition 'George Biles: King of sl￿writerS, during
August 2024.
The Museum offered free enty to the museum on the Saturday of Heritage Open Week in September
2023 and joined in Bridport's 'Christmas Cheer, celebrations in December, with extended Museurn
opening hours and carols from a local choir.
Volunteers Continue to provide regular Ropemaking demonstrdtions within the museum, as well as
outdoor 'Rogue Ropemaking,, which continue to be very popular, generating interest and donations. Staff
and volunteers brought the Museum into the community during the course of the year with stslls at the
Bridport Charter Fair in May 2023 and the Melplash Show in August 2023 and August 2024.
Walk8 and Talks
Volunteers continued to run the weekly Historic Guided Walks on Thursday mornings from April -
September 2023, raising £875 in donations. Volunteers also organised and ran a series of weekly tslks on
Monday evenings in the MuseuEn June - August 2023. We are grateful to the speakers who gave their
time and expertise to this prO￿arnme. including David Alcock, Prof Karen HunL Tegwyn Jones. Dr
Robert Nantes. Vincent Sheppard. Bruc¢ Upton and Dave Willis. Ticket sales for the tslks raised £1,145.
We learned useful lessons on comfortable capacity, possibly repeating popular (over-subscribed!) talk
publicitylmarketing and administration and hope to build on this in future.
Three volunteers and a trustee between them gave 18 'outreach' tslks through the year on a range of local
history topics, mainly in the Bridport area but also as far afield as Yeovil and Weytnouth: the talks were
attended by a total of around 800 people and raised a further £845 in donations.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (tNCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Walks and Tallis (eontd.)
During the course of the year we collaborated with Bridport Town Council on their Streetscape &
Heritage Interpretation Study: volunteers with relevant knowledge helped record podcasts to accompany
the council's new heritage trails around the town. For fiirther inforniation and to hear the podcasts, go to
litt s'.Iliviviv.brid orl-tc.nov.uLlsti'eetsca
e-lierila
e-iiilci-
relatioii-slud l.
Learning and Outreach
Our volunteer learning team continued to welcome schools, local scout groups and other organisations to
the Museum during the year, including People First Dorset (a charity led and run by people with learning
disabilities), and French exchange students from Thomas Hardye School. The team also creat¢s Icsson
plans and loan materials for schools and produces materials for teachers and wup leaders to download
from the website.
The team also organised a range of activities for younger visitors. The Easter 2023 dinosaur egg trail was
a great success with 101 completed trails returned. One lucky young person was delighted to win a Lego
Plesiosaur. The team devised and provided two days of drop-in Valentine inspired creative activity during
the February 2024 half-temi and repeated the popular dinosaur egg trail during the 2024 Easter school
holidays.
In addition to the loan boxes available to be borrowed by schools. the Museum also has "reminiscence
boxes". These are made available to care homes via Care Dorset and through outreach visits facilitated by
Museum volunteers. they are always very well received and highly valued.
Loeal History Centre
The Centre had a very busy year, despite visitor appointments being suspended for nearly two months in
the winter to enable volunteers to do resource 'housekeeping' and carry out Collections work. W¢
continue to offer morning and afternoon appointments on a Wethiesday.
There were over l 00 visitors in person - not all with appointments - including some from New Zealand.
Canada and the USA. The volunteers, knowledge and ¢xpertise has been invaluable and much
appreciated by visitor& During the autumn of 2023 we carried out considerable research responding to
enquiries prompted by th¢ Bridport Heritage Forum house history prOj￿L
In addition the Centre received nearly 200 phone and email enquiries during the year from all over the
world. In addition to family history requests, topics ranged from the history of the Fives Court in Bridport
(south of the Brewery near the river), salmon poaching, cowboys. Bridport Town Criers and Frederick
Douglass (the American abolitionist who escaped from slavery and addressed a meeting in Bridport
Town Hall in 1886). A number of queries led to us receiving new inforniation to add to our resources. We
hav¢ also been very grateful to authors for donating Copies of their books to the Centre Library.
There were over 400,000 photo viewings on the Museum Flickr site over the year and the total number of
views is now over 3.3 million. The site has 56 followers.
Collections
The collections volunteer team worked closely with The Right Stuff project team during the course of the
year. tssting the new collections assessment guide and reviewing collection areas including fine arL
archaeology and geology. Recommendations for disposal of some objects were brought to the Board in
September 2024 and it is anticipated that collections review activities will continue beyond the fonnal
end of the project.
Several new volunteers joined the team during the course of the year. and have taken on areas of the
collection which had received little attention previously, including social history and numismatics.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Collections (eontd.)
The team collaborated with Bournemouth University Archaeology department on the Waddon Hill
collection, supporting the research of the archaeologist who leads the work on that site. Volunteers
hosted a visit from the archaeologist and landowner and visited Bournemouth University. The university
secured a ￿ant from the Dorset National Landscape Partnership's Famiing in Protected Landscapes
prowme to prO￿eSS the work: this included a £500 contribution to the Trust's survey of the
conservation status of the collection and to plan the conservation of an object. The report was received in
January 2024 and recommended that we modify the current packaging materials, in order to help prevent
further deterioration of this important collection. The Trust will identify funding to purchase these
materials. We look forward to developing this relationship and to contributing to the university's
publications. Volunteers gave three talks to local organisations including Dorset Diggers and the U3A
archaeology group on the Trust's archaeology collection, and are developing links with the team at
Dorset County Museum.
During autumn 2023 an MA Graduate volunteer worked on the rope and net archives. including the
Sanctuary collection. This was a mutually beneficial arrangement giving valuable experience to a young
museum professional at the start of his career and providing the team with a different perspective on the
Right Stuff Challenges.
We are exploring with Bridport Town Council the possibility of displaying items from our fine art
collection in some of their premises.
FinaneialReview
The year saw an Unrestricted Funds surplus, after transfers. of £17,469 (2023 surplus after transfers,
£5,215) and a totsl deficiL after transfer3, on Restricted Funds of £33,663 (2023 -deficit after transfers
£21,861). The Unrestricted Funds result was better than projected: the Legacy income was not budgetelt
and investment (bank) income significantly exceeded projection from a combination of effective
cashflow management and continuing relatively high interest rate rises. There were significant cost
reduction4 arising primarily from stsff changes and improved cost controls. While this surplus is
welcome, it should also be noted that the significant capital expenditure of £24,383 in the year saw a
reduction in the General Fund at the year-end. as noted below.
The overall Restricted Funds deficit Teflects continuing expenditure of funds brought forward, reflecting
activities previously delayed by Covid and resource constraints. Restricted Funds spending is closely
monitored to prevent any final closing deficit on a Fund which would need undenvriting from
Unrestricted Funds.
R￿erVeS Policy
In 2020 the trustees adopted a reserves policy whereby the Tnjst will maintain a free (Unrestricted)
General Reserve for the followin8 purposes:
To provide a sustainable and appropriate level of working capital
To allow for p¢riods of unexpected drops in planned income
To cope with sudden short-terni increases in planned expenditure
To provide cover for other risks, contingencies or unforeseen events.
Trustees also set a minimum level for the General Reserv¢ of six months projected Unrestricted annual
expenditure. This level is reviewed by the Board each year when considering and approving the
following year's budget.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Royerves Policy (contd)
In 2022 the trustees set up a Desi￿ated Fixed Assets Fund to match the value of the Fixed Assets
included in the Balance Sheet. they also set up a Designated Collections Fund. In line with Charity
Commission guidance set out in Charity Reserves.. Building Resilience (CC19) the specified
minimum General Reserve level is applied to the remaining (Net Cash Assets) Unrestricted Funds.
At 31 March 2024 the Unrestricted General Reserves balance was £95,067 (2023 £96.362), which
represents I I months, Unrestricted Expenditure (2023 - 10.7 months). This provides a degree of short-
terni stability in the face of continuing uncertainties -the longer-temi effects of the pandemic, the
dramatic rise in the cost of living and increased competition for voluntary charitable donations, all of
which could seriously reduce footfall and related income. The Board will also look to apply some of the
General Reserve to support developing the organisation, while strictly rnaintsining the Policy's minimum
specified level.
As well as looking to widen and increase income sources. Trustees will continue to monitor spendin& to
maximise savings and ensuring value for money, while ensuring that servic¢ quality is maintained.
Principal Funding Sources
Bridport Museum Trust is dependent on funding from Dorset Council and Bridport Town Council, for
which we are extremely ￿atefUl.
The Dorset Council agreement (£54,062) ran to MaTch 2024. In January 2024, after th¢ council's overall
funding review. we heard that we will receive £40,000 for three years from 2024-25. Within the county's
museums sector this is a comparatively favourable resulL but still represents a significant reduction which
will significantly impact our future plans.
The Bridport Town Council agreement was increased to £6,000 annually during 2021-22, to partly offs¢t
the introduction of rent charges for our olfice in The Grove. which we lease from the Council. After a
review meeting for our next five year Service Level Agreement the Council have confirmed that our
annual funding will increase to £7,500. We are very ￿teful for their continuing support.
As local authority income alone is insufficient to run the Museum, income from other sources is vital.
Unrestricted donations in the year increased to £7,463, including Gift Aid reclaimed (2023 - £5,246). We
were fortunate to also receive two legacies, totalling £11,012 (2023 - one of £l.000). We are very
grateful to all our donors. As part of future funding strategics. we will explore new ways of attracting,
motivating and retaining supporters.
Sales tumover from the Museum shop fell to £6,377 (2023 - £8,288): and net sales proceeds contributed a
surplus of £2,702 (2023 - surplus £4.362). This disappointing performance can be attributed in part to our
decision to reduce the Museum's open period after half-terni in February '24, largely because of stsff
shortage. Th¢ year's cost of sales was also significantly impacted by the lat¢ receipt of a bill for nearly
£900, most of which would have been charged to the previous year had it been received in time. We will
continue to monitor shop stock items to provide souvenirs and gifts for visitors, often reflecting our
collection. We will also continue to monitor stock pricing, to maximise this income stream.
We are again very ￿ateful for the Continu￿ and growing involvem¢nt of our group of highly skilled
volunteer 'Makers', who craft a wide range of items incoTporating rope or twine. They are prolific in
ideas and new creations to sell. including popular rope and twine gifts at Christtnas. They also n]onitor
the success of their pieces and modify what they produce accordingly.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (tNCLUDING DIRECTORS, REPORT)- (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Plansfor F4ture Periods
The lingering impact of Covid-19, coupled with cost of living increases and increasing calls on charitsble
giving. has brought an increased level of financial uncertainty for the Trust's future, in common with
many other organisations in the sector and more widely.
The Board had a facilitated strategy day in July 2024 to consider priorities for the future. The Board is
detern)ined to make progress on restoration or replacement of the collections store- the Coach House.
This will require more detailed options appraisal, feasibility Studies and pro￿eSSed plans, fundraising and
project management. The Board are also looking ahead to the museum's centenary in 2032. Early work is
beginning on a wider strategy for the museum, including to support its long temi sustainability via further
work on fundraising, commercial income and audience development.
S¢ruclure, Governance andmanagemenl
Governing Document
Bridport Museum Trust Ltd is a charitable company limited by guarantee, incorporated on 7 January
2002 and has no share capital. It was registered as a charity with th¢ Charity Commission on 30 January
2002. The charitable company is governed by its updated Articles of Association, passed by Special
Resolution on 14 May 2022, thereafter registered with Companies House and the Charity Commission.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per
member of the charity. The registered office is The Coach House, Gundry Lane, Bridport DT6 3RJ.
Organisational structure
The Board of Trustees are responsibl¢ for safeguarding the future of the Collection and the sustainability
of th¢ museum and all its services. With the changes in stsffing and the intention to recruit more trustees
and further involve volunteers in the overall running of the TrusL the role of the Executive Committee
(Chair & Treasurer) will be reviewed and revised if appropriate.
In May 2023 Professor Emerita Karen Hunt stood down as Chair and Anna BTighL Vice-chair, w&8
appointed Interim Chair. The Board, staff and volunteers are very grateful to Karen for all her work in
steering the Trust through the unprecedented challenges of the last few ycars and are pleased that she
remains a Board tnember.
After an extensive recruitm¢nt process. Emma Squire (CBE} was appointed as a trustee and Chair in
April 2024 and has started to map out her priorities for the immediate future. particularly in reviewing the
Trust's structure and recruiting new trustees. Anna Bright stood down as Interim Chair and retired from
the Board in April 2024. All in the Trust are very grateful to Anna for her significant contributions over
the last five years, particulatly as Vice Chair. then Interim Chair over the last two years.
Risk Managemellt
How the Board discharges its responsibility for this going forward will forni part of the planned structural
review mentioned above. An early priority for Michelle Caesar as newly recruited Volunteer Manager is
to work with volunteers to review and update risks and mitigations in each area of op¢rations: this will
feed in to the structural Teview of the role of the Executive Committee.
Procedures are in place to ensure compliance with health and safety regulations for staff, volunteers,
users and visitors. We have a strict schedule of inspections for electrical and flre safety equipmenL and
staff keep a record of scheduled inspections, maintenance and cleanliness and share reports with the
Board.

BRIDPORT MUSEUM TRUST LIMITED
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)- {Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of the Trustees, Responsibilities
The Trustees (who are also directors of Bridport Museurn Trust Ltd for the purposes of company law) are
responsible for preparing the Trustees. Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which 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 the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities SORP 2015 (FRS 102):
Make judgements and estimates that are reasonable and prudent.
stste whether applicable UK Accounting Standards have been followed. subject to any material
departures disclosed and explained in the financial statement. and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitsble company will continue in operation.
The Trustees are responsible for keeping adequate accounting records which disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the charitable company and hence for takin8 reasonable steps for the prevention and
detection of fraud and other i￿egUlar1ties.
This report has been prepared in accordance with the special provisions relating to small companies in
Part 15 of the Companies Act 2006.
On behalf of the Board.
Martin Isaacs
Company Secretary and Trust¢e
24 October 2024
10-

INDEPENDENT EXAMINER'S REPORT
TO THE BOARD OF TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF
BRIDPORT MUSEUM TRUST LIMITED
I report to the charity Trustees on my examination of the accounts of the company for the year ended 3 1st
March 2024 which are set out on pages 12 to 20.
Responsibilities and basis of report
As the charity Trustees of the company (and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts 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
company's accounts as carried out under section 145 of the Charities Act 2011 ('the 201 l Act.). In
carrying out my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have cornpleted my examination. l ¢onfirn] that no matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the company as required by section 386 of the 2006
2. the accounts do not accord with those records. or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair view, which is not a matter considered as
part of an independent examination. or
4. the accounts have not been prepar¢d in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities [applicable to chariti¢s
preparing their accounts in accordance with the Financiaj Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102)].
I have no conc¢rns and have com¢ across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reach¢d.
Mr. M. J Cridland B.A. (Hons) F.C.A
Scott Vev¢rs Ltd
Chartered Accountants and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB
Date.. l.i.L.11.l.i.w......
11

BRIDPORT MUSEUM TRUST LIMITED
STATEMENf OF FINANCIAL ACTIVITES (INCLUDING INCOME AND EXPENDITURE
AccoifNT)
FOR THE YEAR ENDED 31 MARCH 2024
Notes
Restricted Unrestricted
Funds
Funds
Total
2024
2023
Income and endowments from
Donations and legacies:
Donations
Legacies
Grants
Admissions
Service Level A￿eernents
Trading Activities: sales of goods
Investment income
Other income: Sale of Collection items
7.463
2,791
7,463
11,012
5,246
1,000
(2.985)
13,725
60,062
8,288
6.324
316
8,221
13.599
60,062
6,377
13,679
13,599
60,062
6,377
13,679
Total income and endowments
8,221
103,971
112,192
91,976
Expenditure on
Generating income
Charitable Activities
3.675
89,447
3,675
124,711
3,926
104.696
35.264
Total expenditure
35.264
93,122
128,386
108,622
Net Income l (Expenditure) for the year
(27,043)
10,849
(16,194) (16.646)
Transfers between Funds
(6,620)
6.620
Net Movement in funds for the year
(33,663)
17,469
(16,194) (16,646)
Reconciliation of funds
Totsl Funds Brought Forward
255.023
108.353
363,376
380.022
Total Funds Carried Forward
221,360
125.822
347,182
363,376
The statement of financial activities includes all gains and losses recognised during the year.
All income and expenditure derive from continuing activities.
12-

BRIDPORT MUSEUM TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
Notes
2024
2023
Fixed Assets
10
30,439
11,675
Current Assets
Stock
Debtors and prepayments
Cash at Bank and in Hand
2,873
18.050
313,638
3,165
10,302
356.714
334.561
(17,818)
370,181
(18,480)
Creditors: amounts falling due within one year
Net Current Assets
316,743
351,701
Net Assets
347,182
363,376
Charity funds
Restricted Funds
Unrestricted Funds
11, 12
221,360
125.822
255.023
108,353
347,182
363.376
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477
Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476"
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of accounts.
These financial statements are prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
The flnancial statements on pages 12 - 20 were approved by the Trustees, authorised for issue and signed
on their b¢half by:
Martin
saacs
Company Secretary and Trustee
24 October 2024
13

BRIDPORT MUSEUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1.0 Accounting Polieies
The principal accounting policies applied in the preparation of the financial statements are set out below.
These policies have been consistently applied to all the years present￿ unless otherwise ststed.
1.1 Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014 (as updated
through Update Bulletin I published on 2 February 2016), the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102), the Charities Act 2011, th¢ Companies Act 2006 and UK
Generally Acc¢pted Practice as it applies from l January 2015.
The charity has applied Update Bulletin l as published on 2 February 2016 and does not include a cash
flow statement on the grounds that it is applying FRS 102 Section IA.
1.2 Going concern
The financial statements are prepared on a golng concern basis under the historic cost convention. The
financial statements are prepared in sterling. which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £.
IJ Fund &ceounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general
objectives of the charity and which have not been desi￿ated for other purposes. Restrict¢d funds are
subject to restrictions on their expenditure imposed by the donor.
1.4 Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is
legally entitled to the income after any perforn]ance conditions have been meL the amount can be
measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date
in writing. If there are conditions attached to the donation and this requires a level of perforniance before
entitlement can be obtained then income is defe￿ed until those conditions are fully met or the fulfilment
of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from government and other grants are recognised at fair value when the charity has entitlement
after any perforniance conditions have b¢en mrt it is probable that the income will be received and the
amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Interest income is recognised when receivable and the amount can be measured reliably by the charity.
this is nomially upon notification of the interest paid or payable by the bank.
14-

BRIDPORT MUSEUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1.5 Expenditure recognition
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered. and is reported as part of the expenditure to which it relates:
Expenditure on charitable activities comprises those costs incurred by the charity in the
delivery of its activities and services. It includes both costs that can be allocated directly to
such activities and those costs of an indirect nature necessary to support them.
Other expenditure represents those items not falling into any other heading.
Costs ofgeneraling income
These are costs incurred in attracting voluntary income, the management of investments and in trading
activities that raise funds.
Charilable activities
Charitable expenditure comprises costs incurred by the charity in the delivery of its activities and services
for its beneficiaries. It includes costs that can be allocated directly to such activities and indirect costs
necessary to supw)rt them.
1.6 Support eosts
Support costs include central functions that assist the work of the charity but do not directly represent
charitable activities. They are incurred directly in support of expenditure on the objects of the charity.
Where support costs cannot be directly attributed to particular headings they have been allocated to wst
of generating income and charitable activities on a basis consistent with use of the resources.
1.7 Tangible Fixed Assets
Tangible fixed assets are stated at cost less depreciation. Items whose pU￿hase price is £200 or more are
capitalised.
Depreciation is provided at rates calculat¢d to write off the cost of fixed assets, less their estimated
residual value, over their expected useful lives on the following basis:
Fixtures and fittings
Furniture and equipment
Computer equipment and printers
200/0 per annum on Cost
- 33.3 % per annum on cost
1.8 Debtors
Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
1.9 Casb alld casb equivalents
Cash and cash equivalents comprise cash on hand, call deposits and other short-terni highly liquid
invesknents that are readily convertible to a known amount of cash and ar¢ subject to an insignificant risk
of change in value.
15

BRIDPORT MUSEUM TRUST L￿[TED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1.10 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised at
their settlement amount.
1.11 Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions
payable are charged in the Ststement of Financial Activities in the year they are payable.
1.12 Fund structure
Unrestricted income funds are general funds that are available for use at the Trustses, discretion in
furtherance of the charity's objects.
Restricted income funds are those donated for use in a particular area or for specific purpose, the use of
which is restricted to that area or purpose.
Service Level Agreements
During the year Dorset Council provided £54,062 (2023 £54,062) and Bridport Town Council provided
£6,000 (2023 £6,000) under Service Level Agreements to support the work of the Museum. We continue
to greatly appreciate their support. As reported above. Dorset Council funding has now been set at
£40.000 a year for three years from 2024-25 and Bridport Town Council recently confimied funding of
£7,500 a year for five years from 2024-25.
Costs of generating income
2024
2023
Costs of goods sold
CaTd payment processing fees and shop costs
2,748
927
3,213
713
3,675
3,926
16-

BIUDPORT MUSEUM TRUST LJMITED
NOTES TO THE FINANCtAL STATEMETrrrs
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of Expenditure on Charitable Activities
2024
Restricted Unrestricted
2023
Total
Note
Total Expenditure
Staff costs
Staff training and travel
Staff recruitment
Ternporary management support
Volunteer costs
Exhibition, Learning Resources and Activities
Advertising and publicity
Conservation costs
Other project costs
Health & Safety I Covid-19 precautions
Rent and water
Electricity and gas
Insurance
Property repairs and maintenance
Telephone and broadband
Computer costs
Printing, postage and stationery
Office equipment leasing
Sundry costs
Cleaning costs
Memberships and subscriptions
Examination fees
Professional fees
Trustees, training I conferences
Trustee recruitment
Bank charges
Depreciation
31.080
16
38,218
85
704
4,050
1,143
1,171
1,636
2,058
3,748
521
5.260
17,600
1,390
754
1,147
286
15,801
84
7,030
4,777
1,984
1,507
4.009
8.236
385
749
146
1,194
361
1,800
4,612
74
800
333
367
7,825
4,545
2,635
6,089
3,517
7,687
445
667
51
2,489
407
2,073
748
10
121
371
103
3,902
7,020
838
5,619
832
6,291
35,264
89.447
104,696
Staff Costs
2024
2023
Gross Salaries
Employer Pension Costs in year
Employer PeA)sion Costs: adjust historic accrual
Employer National Insurance Costs
Statutory Maternity Pay reclaimed
38.238
1,147
178
37.108
1,110
(8.483)
31,080
38,218
No employee earned more than £60,000 per annum (2023 - nil).
Staff Numbers
The average monthly number of persons employed by the charity during the period was 2.5 (2023 - 2.5).
The average monthly number of full-time equivalent employees (including casual and part time staffj
during the year was 1.4 (2023 - 1.5).
17-

BRIDPORT MUSEUM TRUST LtMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Defined Contribution Pension Scheme
The charity is a member of the People's Pension defined contribution pension scheme. The scheme and
its assets are held by independent managers. The pension charge represents contributions due from the
charity and amounted to £1,147 in the year (2023 - £1,110). £178 was charged to adjust an historic
accrual carried forward.
Trnstees, Remuneration and Expenses
No remuneration was paid to Trustees in the year (2023 - Nil). No expenses incurred on behalf of the
Charity were reimbursed to Trustees (2023 - £Nil) and Trustees received no other benefits.
Taxation
The charity is considered to pass the tests set out in Pardgraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK corporation tsx purposes. Accordingly)
the charity IS Potentially exempt from taxation in respect of income and ￿pital received within categories
covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of
Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable
purposes. No tax charges have arisen in the year.
10 Fixed Assets
Fixtures
and
Fittings
Furniture
Computer
EquipmenL
Printers
Total
Equipment
Cost..
At l April 2023
Additions
Write back fully depreciated
assets
5,651
23,219
3,211
16,867
1,164
(191)
25,729
24,383
(191)
At 31 March 2024
28,870
3,211
17,840
49,921
Deprecia¢ion.'
At l April 2023
Charge for the Year
Write back depreciation
3,315
1,390
1,672
656
9,067
3,573
(191)
14.054
5,619
(191)
At 31 March 2024
4,705
2,328
12,449
19.482
Nel Book Value."
At 31 March 2023
2,336
1,539
7,800
11,675
At 31 March 2024
24,165
883
5,391
30.439
18

BRIDPORT MUSEUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11 Analysis of Charitable Funds
Balance at
1.04.2023
Income Expenditure TransfeTS
Balance at
31.03.2024
Restricted Funds
Sanctuary Fund
Right Stuff Project
Conservation Project
DC S.106 Funding
Textile Care Project
Fine Arts Project
Cabble Bequest
206,988
33,758
1,735
7,047
2,495
3,000
7,123
24,048
1,577
158
841
1.351
166
(5,804)
(816)
194,061
8,894
158
6.889
1,654
1,649
8.055
8,221
255,023
8,221
35,264
(6,620)
221,360
Unrestrieted Funds
Fixed Assets Designated Fund
Collections Designated Fund
Genernl Reserves
11,675
316
96,362
18,764
30,439
316
95.067
103,971
93,122
(12,144)
108,353
103,971
93,122
6,620
125,822
Total Funds
363,376
112,192
128,386
347,182
Restricted Funds
These fi]nds are subject to specific purposes declared by the donors.
The Sanctuary Fund supports the car¢, development and interpretation of the Sanctuary Collection.
The Right Stuff Project was established in 2019-20 with a three year funding agreement from the Esmee
Fairbairn Collections Fund. its purpose is a three year community engaged Collections r¢view: the
original schedule was delayed by Covid 19 and staffing changes. With the funder's agreement we plan to
omplete the work within the year 2024-25.
The Conservation Project was established in 2019-20 with a £25,000 grant from West Dorset District
Council: its purpose is the conservation of artworks in the Trust's Collection.
The DC S.106 Funding was established in 2020-21 with a £7,560 Section 106 grant from Dorset Council:
its purpose is environmental monitoring at the Coach House premises.
The Textile Care Project was established in 2020-21 with a £2,495 grant from the Daphne Bullard. Kathy
Callow and Elizabeth Hammond Association: its purpose is the conservation of tsxtiles in the Trust's
Collection.
The Fine Arts Project was established in 2021-22 with a £3,000 donation from the Bridport Old People's
Forum on their closure: its purpose is the conservation and acquisition of artworks.
The Cabble Bequest was established during the year with a bequest of £8,221: its purpose is the
furtherance and maintenance of the Trust's Collection.
19-

BRIDPORT MUSEUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11 Analysis of Charitable Funds (contd.)
Unrestricted Funds: Designated Funds
The Fixed Asset Fund represents the Net Book Value of the Trust's working assets. this separation
clarifies the UnTestricted net current assets (General Reserve), to which the TTUSt's Reserves Policy is
applied.
The Collections Fund was estsblished during 2022-23 with the proceeds of the sale of Collection items
deemed no longer appropriate. In line with our Collections Policy and ACE Accreditation standards. sale
proceeds are set aside to fimd the long-terni sustainability, use and development of th¢ collection.
12 Analysis of Net Assets Between Funds
Restrirted
Funds
Unrestricted
Funds
Total
Fixed Assets
Cash at Bank and in Hand
Other current assets I liabilities
30,439
89,726
5,657
30.439
313.638
3.105
223,912
(2.552)
Total
221,360
125,822
347,182
13 Obligations under leases and hire purchase eontracts
Operating IRases commitments
Total future minimum lease payments und¢r non-cancellable operating leases are &s follows:
2024
2023
Other
Within one y¢ar
488
560
14 Related Party Transactions
Dursng the year there were no related party transactions (2023 - one).
IS Financial Instruments
2024
2023
CategorAsation of Financial Inytruments
Financial assets that are debt instrument measured at amortised cost
Financial liabilities measured at amortised cost
330,526
17,818
365,914
18,480
Items of income, expensey gains or10sses
The total interest income for financial assets not measured at fair value
through profit or loss is
13,679
6.324
-20-