COMPANY NUMBER: 04348168 cott evers REGISTERED CHARITY NO.. 1090327 Chartered Accountants BRtDPORT MUSEUM TRUST LIMITED (COMPANY LIErfrrED BY GUARANfEB WmioLrr SHARE CAPITAL) REPORT AND FtNANCIAL STATEMENTS FOR TIIE YEAR ENDED 31 MARCH 2025
BRIDPORT MUSI-.UM TRIJST I.IMtTF.D INDEX TO REPORI, AND bINANCIAL STATEMEbrrs FOR TIIE YEAR ENDED 31 MARCH 2025 Page No Refeirnce and Administrativc details Truste¢5' Annual Report (including DÈreciors' Report) 10 Independent Examiner". s Report Statement of Financial Activities (including Income and Expenditure Accounl) 12 Balance Sheet 13-20 Noles lo the Financial Statements
BRIDPORT MUSEUM TRUSTLIMITED RE,PORT AND FINANCIAI. STATEMENTS FOR"I'HE YEAR I.:P4DI.:D 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Directors and Tnlee5 The Board of Trustees constitutes diTectors of the company for thc purpose of company law and TTUStoes for the purpose of charity law. Trustees serving during the and sinLc the ye1 end were as follows.. Anna Bright- Chair (retired 25 April 2024) Amanda Cooper (appointed 19 December 2024) Christophcr Davison (appointed 19 December 2024) Camilla Hampshire Caroline Ilamson (appointed 19 Decernber 2024) Christopher Iluxley (appointed 19 December 2024) Protessor Karen Hunt Martin Isaacs (retired 24 July 2025) Kathryn Lloyd (appointed 19 December 2024) Emma Pell (Squi) - Chair (appointed 25 April 2024) Amanda Strcatfcild Sarah Williams (retired 31 May 2024) Secretary Martin Isaa&s Registered Office The Coach House: Gundry Lane Bridpor¢ Dorset DT6 3RJ Bankers Nat West plc 22 East Street Bridport. Dorset DT6 3LG Flagstone Invesimenl Management L I st Floor Clareville House 26-27 Oxendon Street London SW14EL Independent Eraminer Scott Vevers Ltd Chartcrd Accountants & Registered Auditors 65 East Streel Bridpori Dorsel. DT6 3LB Copnpany Number 04348168 Churity Number 1090327
BRIDPORT MUSEIJM TRUST LIMITED TRUSTEES, ANNUAL REPORT (INCLUDING DIRF.CTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The TntcCS pr¢s¢nt their annual report and fJnancRal statements of the charity for the ye<W cnded 31 March 2025. The Trustees have adopted the provisions of the Statement ofRecotnmended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and fmancial statements of the charity. The financia] statements have been prepared in accordance with ihc accounting policies sei out in note8 to the accounts and comply with the Articles of Associalion. the Charities Acl 2011, th¢ Companies Acl 2006 and Accounting and Reporting by Charities: Ststement of Recommended Practicc applicable to charities prepaj'ing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Updatr Bulletin I published on 2 February 2016). Objectives andArtivilies The Charity's objcctives, set out in Articl¢ 2 of the Articl of Association, are 'to advance th¢ education of the public in Bridport and the surrounding area in particular through the provision of a museum.. Bridport Museum is operated by the Trust and is a fully accr¢dited museum. To further Icarning within the community, the Tn]st supports research ot its archive and artcfacts through a Local History Centrc open one day a week, with further remole SUprt for IOple who need digital access. The Trust plays an active role in the culturdl life of the town, 5UPPOrting local events fcstivals and participating in Bridport Local Area Partnerships and othcr local groups alongside membership of South West and National Museum Associations. The Museum events and exhibition progranllnes support the Trust's educational objective and encompasses outreach work. In 2024 this included participaiion in the Bridport Town of Culture programme and also in national Heritage days. The beneficiaries of these activities includc the local and surrounding communities. schools, national and intcrnational visitors to the area, volunteers, local businesses and other 8N)UPS. How Objecllves ondAetlwlies Deliver Publlc Benefit Through providing an open and wclcoming Museum, events and activitics, exhibitions, collections care and sharing local archives. as d&8cribed in this report, the Trustees consider that the Charity has complied full). with its duty in 8ection 17 of the Charities Act 2011 to have due regard to publAC benefit guidance published by the Charity Comrnission. The Museum is comrnitted to operatin8 ethically and subscribes to the Museums Association's Code of Ethics. Bridport Museum Trus( Colleclions Tli¢ Trust cares for around 20.000 objects: which reflect many aspccts of th¢ history of the town and surrounding area. In addition, thcTe arc approximatcly 30,000 photographs or imagcs in thc Collection. Since 2012 ihe Collection has included the Sanctuary Rope and Net Collection and paper archives, which record the history of the domin&nt industry which has shaped the town. The Museum's collecting area comprises the following parishcs: Allington, Askcrsw¢ll. t4ettiscombe. Boihenhampion, Bradpole, BridpoN Broadoak, Burton Brddstock, ChannoutK Chideock, Chllcombe, Dolter),, Little Bredy, Litton Cheney, LodetJ Long Bredy, Marshwood, Monkton Wyld, Morcombelak< Nethcrbury, North Poorton, Piltsdo PowcrstocK Puncknowle, Salway Ash, Shipton Gorgc. Stanton St Gabri¢l, Stoke Abbol Swyre, Symondsbury, Walditch, Whitchurch Canonicorum, Wootton fitzpaine.
BRIDPORT MUSEUM TRUST LIMITED TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)- (Continucd) FOR THE YEAR ENDED 31 MARCH 2025 Premises The Trust operates across threc sites- the murn, The Grovc and the Coach House. From I" Sepiember 2024 we took over additional spacc at The Grove: to allow for W0spaCe alongside some colleclions storage pending resolulion of the July 2023 leak in the Coach House which has reduced cffcctivc storag¢ paCity thcrL. 'I'hc Coach House leak has had an appreciable impact on the general us¢ uf the building and, in particular, on conservation work. In January 2024 an initial feasibility study on potential Terurbishmenl and development works on the building was completed. In 2024 ihe Trust was engaged in building resilience through stabilising staffing and onb(dIng a new Chair and Trustees. Establishing a prL'miscs stratcgy to ensure effective collections management alongside the Museum and history centrc is a priority alongside pursuing funding opportunities to cnable this ah¢ad of our 2032 centenary. As ever. thanks go to our three maintenance volunteers. who keep on top of many of the day-to-day tasks such as t¢sting thc firc alann, as well &s undertaking basic maintenance. Slaff and Human Resources The year saw stsbilisation olstaffing with the appointment ofmichelle Caesar in July 2024 as Volunteer Manager. Victoria Northwood provided managcment cover on a freelance basis prior to this and following the leaving of previous staff. Michelle's role has since been made perniancnt and upgraded to Museum Manager from April 2025. The TnLslees would like to thank Victori& who continues lo provide freelance supporL and to thank and conaLu1atC Michelle. Volunleers The Board are deeply indebted to our volunteers who support all aspects of the Trust's activity as detailed in the following sections. The sustainability ot-the Trust and all its services dcpcnds on an active and engagcd group of voluntcers. The volunteer-led 'Building Connexlions, programmL, Initiat in 2022, continued with events to connect volunteers and encourage en8a8¢menl with and learning from other volunteer groups and local businesses. One volunteer attended ihe Collections Trust Conference in Oclober" four volunteers joined training on workin8 with voung people with special cducational needs or disabilities (SLND) in Octobcr, provided free as part of the Arts Council England funded project 'lggy for All a volunteer tour of Bridport's Palmer's brewery look place in Novernber; a tour ol award winning Nothe Fort in Weymouth was Tun in January and in FebNary Amsale provided a tour of iheir high-Ch ncl making facility in BridporL These activities are also open to Trustees and providc a fun and cducaiional way for thosc who choose to takc part. In addition the Nothe Fort leam provided training on customer service for volunleers, a Trustee deliver a marketing workshop for volunteers and three volunLeLT.8 altended a course on collections care by Museum Devclopm¢nt South Wcst. Volunteers continue lo enjoy engaging with the public who visit the Museum or contact the Local History Centre and are consRstently appreciatcd for their friendly and infonnative welcome. There are regular opportunitics for thc volunt¢¢r tcam to mect and staff provide ¢-mail updates on a weekly basis. along with an ad hoc update (at least quarterly) from the Chair following Board Meetings or major milestones. During ihis fancial year volunl¢ers have coniributed over 6.000 hours to the Tn( compared to around 5.750 houts over the Same pertod 2023-2024. Active volunteer numbers have increased to around 60. compared to 50 in th¢ prior year.
BRIDPORT MUSEUM TRUST LIMITED TRUSTELS, ANNUAL REPORT (INCLUDING DIRECTORS. REPORT)- (Continued) TrOR 'I'HI.' YLAR E:.NDI'D 31 MARCH 2025 Achievements and Perforrnance Flighlights trom thi8 year include: The Right SiuffProjecl and Collecllons Managepnenl The Right Stuff, a community-¢ngagcd Collcctions review projecl funded by the 5MCC Fuirbairn Collcctions I.und and administered by the Museums Assoclation. submitted its final report in 2024 and spend will complete in 2025-26. Outputs from this fonned an exhibition in the Museum in 2023 running into 2024. A case study designed to share l¢arnin8 from The Right Stuff project W&8 d¢veloped and made available via the Museum's website during 2024. This was shared with Ihe regional sector via the Mseum Development South West newsldter in January 2025 and is due to be Shed at a nalional level via the Museums Association website. To ensure appropriate governance oversight of any disposals arising fr(Nn The Right Slurrproject, including from the refreshed Collections Policy and Disposals Policy, a Colleclion.s sub-cornmillee has bcen set up. This committee is to provide advice and recommendations to the Board about collections. primarily with regard to the potential 4KqUiSition and disposal of items wbcre sucb decisions may be compl¢x or controversial, and to ensure the Collection remains relevant and manageable. Beaminster Museum helped with creating 3D tnodels of four items in the archaeology colleclion and volunteers are transcribing Dr Roberts. biography. In September 2024 a representative of ihe Conservalion and Museum Advisory Service (CMAS) visiled and gave the team help1 guidance on our collection conservaiion. Museum Gndshop The Museum was open through the year, excepting a six week closure for the quieter late December to rnid-February perio(L which also facililaled some rouline maintenance activity. During the financial year we had a total of 5,537 visitors, including 81 I children and 2,030 adults admitted without charge. The latter included 1.485 from frec admission days and exhibitions, alongside Car$ and rcpcat Vlbilors. The figures r¢present an Increase of43 % on the previous year (3.883). Building visitor numbers remains a key priority and ihc Board is seeking funding to support a bmader business plan addressing our spac¢ n¢¢ds and utilibation. building strategy and rnarkcting capability. Our fronl of house volunLeers conlinue to enjoy engaging with the public who visit the MeUm and are highly apprecialed for their friendly and inforniative welcome. They also contribute advice on shop stk items and liaise with suppliers. The pM)pular '1300ry Bridport" Icaflet was reprinted due to demand and our new publication ,Ul[kY Bridport" writtcn by a voluntcer. was rcle&scd in autumn 2024 to great popular acclaim and also now reprinte(i. The Makers Group continue to apply Iheir handicraft skills to ¢rcate rope and cord and make unique items for sale in the shop. These account for a significant proportion of total shop salL3. Erhibilions and Events The Museum hosled a range of exhibitions and events tITroughout the year to encourage new and repeat visits. The community Curat exhibition related to Thc Right Sff project and mentioned above includcd objects from the Museum's own Collection and items lent from members ot'the community and continued until Spring 2024.
BIUDI)()RT MIJSEIJM TRIIST LIMITED TRUSTEES, ANNUAL REPORT (tNCLUDING DIRECTORS, REPOR'f)- (Continucd) FOR THE YEAR ENDED 31 MARCH 2025 Erhibilions and Events (conld) In support of Bridport Town of Culture ihe Museum was one ofthree Bridport venues hosting a National IA)ttery Heritage Fundd retrospective exhibition 'George Bilc5: King of Signwriters, during August 2024. which brought in 700 unique visits. The museum also hung a quilt as part of the 'X2uilt Walk" and hostcd mayoi'al visits in Sepiember at which some allendees took part in rope making. October, as part of the Visit Dors¢t campaign, ten museums each chose an artist to fcaturc in the Skilful Hands exhibition. Bridport chose Fra Ncwbcry and hcld rclatcd craft activity for families. In December the Museum participaied in Bridport Cheer, a local initialive, with free enlry and late night opcning for the day atiracting 400 visitors. Themed activities for children and families, including popular story ¢¢llAng provided in colliiboration with Bridwrt library. w¢rc h¢ld in half tcrnl dnd school holiday5, and a Christmas trail and raffle was also held. The Trust offered free entry lo the Museurn during Heriiage ()pen Week, with 700 visitor& and on 21 December prior to the 6 w¢ek LIOsu for maintcnance and downtime. The Trust also enjoyed a visit from Phil Gibby, Director South West of the Arts Council as part of his visit lo the area and lalked lo him about our plans for the murn. Voluntcers Lontinue to provid¢ r¢gular ropcmaking dfflionstrations within the Museum, as well &s ouldoor 'Rogue Ropemaking which continue to be very popular, generating interest and donations. Staff and volunleers brought Ihe Museum inlo the comrnunity during the course of the year with stalls at the Bridport Chartcr Fair in May 2024 and thc Melpl&sh Show in August 2024. Bournemouth university Continued to pmvide support working towards the May 2025 "Unearthing Waddon Flill" archaeology exhibition providing some content and printing of exhibition materials. Walks and Talks Voluntecrs continued to run the weekly Historic Guided Walks from April - Septcmber 2024. raising £458 in donalions (2024 - £875). Three volunteers and a Trustee bctwccn thcm gave 18 'outreach' talks through the year on a range of local history topics, mainly in the Bridport arca but also as far afield as Ycovil. Weymouth and Dorchesler: the talks raised £1,230 in donalions (2024 £845). Learning 4Thd Oulreach Our volunteer learning team continued io welcome schools, local scout groups and other or8anisations to thc Muscum during thc ycar, including People l.'irst l)orset (a charity led and run by pcoplc with Icarning disabilities), F'rcnch cxchangc students from Thomas Hardye School, a class from Symondsbury SLhool and Exmouth l-Iistory group. The team also creates lesson plans and loan materials for schools and produces materials for leachers and group leaders to download from the website. In addttion to the loan boxes available to bc borrowed by schools, the Museum also h&8 "reminiscencc Ex)xes" lThese are made available to care homes via Care Dorset and through outreach visits facilitated ty Museum volunlcers. They are always very well received and highly value Three work experience placanents were supported in March 2025.
BIUDPORT MUSEUM TRUST LIMITED TRUSTEES, ANNUAL IU.4PORT (INCLUDING DIRECTORS, REPOR'f)- (Continued) FOR THE YEAR ENDED 31 MARCH 2025 Local Hlslory Cenlre It has been a very busy year at the Centre, despite visitor appointments being suspcnded lor nearly No months in the wtnier to enable volunleers to do r&source '*(wsekecping" and carry out Coll¢ctions work. Wc continuc to offer morning and afternoon appointments on a Wednesday. In addition: Alison Johnstune and Hclcn Doble have taken Monday moming sessions for anyone to drop in. These have becn vcry successful. Wc have had about 120 visitors through the door during thc ycar- including somc from the USA. The knowledge and expertise of Graham Avis, Jane Rea& Alison and Helen have been invaluable. In addilion there have been over 150 phone and email enquiries coming into the centre during the year from all over the world, As well as bullding and family hislory reques topics have ranged from thc bornbing of Thc Star Hotel in Wcst SireL't during WW2, research on George Biles in conn¢ction with the exhibition of his work around the town l&st AugusL a Mollnon preacher in Bridport in the 1850& research on the Stanton St Gabriel area for Ihe National Trust and whether Ralph Vaughan-williarns visiled someone in Chideock (yLs, h¢ probably did!}. A number of thLse queries havc lcd to us rccciving new inforniation to add to our rcsources and we havc learnt new fdcts about our arca. We have also been very ateful lo authors for donating copies of their books to the Centre Library. Thcr¢ were over 550,000 photo vicwings on the Mus¢um Flickr site over the year. an increase of nearly 400/0 from last ycar. Wc cxpect th¢ totsl number of views to reach 4 million this autumn. 65 people and organisations follow us on Lhe site. Financial Review ITh¢ year saw an Unrestricted Funds. surplus, after transfcrs, of £4.656 (2024, surplus £17.469) and a total deficit, aftcr transfers. on Restricted F unds ot £8.584 (2024, dcficit £33.663). The Unrestricted funds result was better than originally budgeled largely due to deferred aciivily. This arose from reduced stair capacity in the fErst quarter of thc year and major deciskons on development held over unlil new Trustees were recruited at the end of 2024. Financially, this surplus incrLascd th¢ G¢n¢ral Tr und. providing funds for the still to come required dcvclopmcnt worL as noted below. The overall Restricted Funds deficit resulied fTom conlinuing expenditure of fvnd.s brought forward: rcflectÉng activitics prcviously delavcd by Covid and rcsource constraints. Rcstrictcd Funds spending is closely monitored to prevcnt any faL closinb? dLficit on a fund whiLh would ncld undmvritin8 from Unrestricted Funds. Reserves Policy In 2020 lh¢ Trust¢¢s adoptLd a reserves policy whercby the Trust will maintain a frec (Unrestricted) General Reserve for the following purposcs: To providc a sustsinable and appropriate level of working capital To allow for period5 of unexpcctcd drops in plallncd incomc To cope with sudden short-terni increases in planned expenditure To provide cover for olher risks, contingencies or untoreseen events. Trustees also set a minimum level for th¢ G¢nLYal Reserve of six months projected UnrcstriLted annual expenditure. Ihis level is reviewed by the Board cach ycar whcn considcring and approving thc following year's budgel. In 2022 the Trustees set up a Designaled Fixed A&sets Fund io rnatch the value of the Fixed Assets included in ihe Balance Sheet; they also set up a Designakd Collections Fund. In line with Charity Commission guidance set out in Charity Reserves.. Building Resilience (CC19) thc spccified minimum General Rcscrve level is applied to the remaining (Net Cash Assets) Unrcstricted Funds.
BRIDPORT MUSEUM TRUST LIMITED TRUSTEES, ANNUAL RLPOR'f (INCLUDING DIRF.CTORS' REPORT)- (Continued) FOR,1'HE. Y1.AR F.NDI"D 31 MARCH 2025 Reserves Policy (conl&) At 31 March 2025 ihe Unrestricted General Reserves balance was £104,165 (2024 £95,067), which represcnts I I months, Unrestricted Expenditure (2024 - 1 I months). This provides a degree of short-terni stabil ity in the t.ace of continuing unccrtainties including the ongoing effccts of the pandemic, cost inf]ation and increased competition for voluntary charitable donations, 211 of which could seriously reduce fooLfall and income. It also provides cover for necessary development expenditure deferred to 2025 or 2026. The Board will continue to apply some of the G¢neral Reserve to support dcveloping the sustainability of the organisation and working towards a balanced budgeL while strictly maintaining 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 valuc for money. while ¢nsurin8 that s¢rvice quality is maintained. Principal Fundlng Sowc Bridport Museum Trust is dependent on funding from Dorsel Council and Bridport Town Council. We are. as ever. extremcly grat¢ful for th¢ir support in this and other ways. The Dorset Council agreemenL £40,000 per year, rnns for three years from April 2024. The Bridport Town Council agreement was increased lo £7.500 annually for five years from April 2024, in part to offsrt th¢ incrcascd rent charges for the expanded offiLe and storage space in 'fhe Grove, which we lease from the Council. As funding from the councils alone is insulTicient to run the Museum, income from other sources 1.% increasingly vital. Total donalions in the year increased Lo £8,875, including Gift Aid reclaimed (2024, £7,463), and targeted funding for publications productio whtch raised £2,340. W¢ are very gratcful to all our donors. With ncw skills recruited the Board will develop the marketing and fund raising strategy with a view to attractin& motivating and retaining supporters. Sales turnov¢r from the Muscum shop rosc significantly to £1 1.121 {2024. £6,377) and nct salcs proceeds ntributcd a surplus of £5.634 (2024, surplus £2.702). This major improvment can IK attribut¢d in part to thc production ofour Quirty Bridporl publicalion in aulumn 2024. This was the brainchild ol a volunleer, Tegwyn Jones, who crealed it, raised funds for and oversaw its production and worked tirclessly to promote it to our own audicncc. as well &s to othcr retsil outlets in our are& The first print run sold out und it was rLprintLd bcforc th¢ financi y¢ar-cn<L Our Manager monitors shop stock sal&s and consults shop volunteers lo provide suitable souvenirs and gifts for visitors. oftcn rcflccting our Collection. We also monitor stock pricin& to maxirnise this income tream. We are again very graleful for ihe continued and growing involvernent of our group of highly skilled voluntecr ' Makcrs,, who craft a widc rangc ot items incorporating ropc or twine. Thcy arc prolific in idcas and n¢w crcations to sell. including popular rope and twine gifts at Christmas. They also monitor the success of (heir pieces and modify what they produce accordingly. Plans for Future PerRod8 Our vision remains that p¢oplc love and value Bridport Museum, they are inspired and engaged by the slories wc lell, helping them understand the significance of Bridtx)rt's pas¢ appreciate the present and imagine the future. The key prioritits are on building and delivering on an effective location strategy encomp&8sing good eollections m<agement alongside serving our educational purposes. a sustainable opcrating modcl with tinancial resilicncc" and planning towards marking thc Muscum ccntcnary in 2032 with a refreshed and relevant proposition.
BRIDPORT MUSEUM TRUST LIMITED TRUSTF.ES' ANNUAL REPORI. (INCLUDING DIRECI"ORS' REPORT)- (Continued) 14OR I"HE YEAR ENDED 31 MARCH 2025 Plans for Future Periods (contd.) The Trusi held a stralegy day in July 2024 aniL as one out¢orn¢ of thaL recruitment for new Truslees was initiated to bring broadcr expcriencc and greater dcpth to the team supporting the extensive knowledge and strcngths of thc cxisting 'fnL8tces. Thc t4oard was cxpanded to add fivc ncw I'rustees in December 2024 with expectations of closer involvement across Trnstees. volunteers and mus¢um managemenL logelhcr with the appointment of a number of expert advisers. Ensuring we have a "fit for purposc" wllcction store, and the funditng behind this is the most immediat¢ stralegic focus 2nd was a key component of the June 2025 away day. The Trust acknowledges that while Unrcstricted Fund5 show a small surplus nct income in 202415 this arosc from delayed spend and ongoing eftort is nccded to support a balanced position in th¢ future as referenced in the financial review. The Board will be mindful to ensure work on the focus areas referenced above reflects this need working within our Reserves Policy. Structure, Governance and Management Governlng Document Bridport Museurn Trust Ltd is a charitable company limited by guarantee, incorporated on 7 January 2002 and has no share capitsl. li was registered as a charity with the Charity Commission on 30 January 2002. The charitable company is govemed by its updated Articles of Associatioo passed by Special Resolution Ih on 14 May 2022. thereafter registered with Companics House and the Charity Commission. In the efv'ent of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered otTice is The Coach House. Gundry Lanc: Bridport DT6 3RJ. Organisational Strudure The Board of Trustecs are responsible for safeguarding the future of the Collection and the sustainability of the Museum and all its services and meets quartcrl). or more frequenily if needed. The Board is supported b), the Execulive Committee who typically meet monthly. This comprises the Board Chair, Treasurer and the Museum Manager. Michelle Ceasar, Volunieer Manager Irom July 2024, was fonnally appointed Muum Manager elTextive l April 2025 and remain5 the only employee. In July 2025 the role of Vicc Chair is to bL fornially added and will also sit on the Executiv¢ Committcc. Sub Committees are eslablished as nccdcd and comprise at least one Board member, statfmember(s), volunleeTS and sCIal advisers &$ appropriate. Trustee Jndudion qnd Training An induction session was held for newly appointed Trustees ensuring Llarity on roles &$ well as a grounding in the Trust's objeclives. An internal training and inforniation session on the charity's accounts and budget was provlded for all Truslees. Risk Managemenl A new Risk Register h&8 been drafted for Board considerdtion and will be reviewed at least annually, and more frequently wherc ihe Board or Museum Manager consider necessary. Regular review, updates and ac¢m¢nt on actions forni part of the Muscum Manager's, l.'xecutive Committee's and 13oard's re&•ponsibilities. Procedures are in place to ensure compliance with heallh and safety regulations for staff, volunteers, users and visitors. We have a strict schedule ot" inspections for electrical and fire safety equipment, and staff keep a reLord of SLhcdul¢d 1nspcctioS and maintenance.
BRIDPORT MUSEUM TRUST LIMITED TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, RF.PORT)- {Continued) OR'I'HE YEAR ENDE.[) 31 MARCH 2025 Statement ol the Trustees, RPonSIbl1111¢s The Truslees (who are also directors of Bridwrt MLLseum Trusl Ltd for the purposes ofcompany law) are responsible for preparing the Trustees, Annual Report and the financial statemcnts in accordancc with appliLable law and United Kingdom Accounting Standards (United Kingdom G¢n¢rally Acc¢pted Accounling Praclic¢). Company law requires thc .1 rustces to prepar¢ financial statements for each financial year which give a true and fair view of the state of affairs of thc charitablL company and of the incoming resources and application of resources: including the income and expcnditure, of the charitable company for that period. In preparing these fjnancial statements, th¢ Trustees ar¢ r¢quircd io: Sclcct suitable accounting policies and then apply them consistently; Observe the methods and principles in the Lharities SORP 2015 (FRS 102). Make judgements and thlimales that are re&%onable and prudent: Statc whL'ther appliLablL UK Accounting Standards have been followed, subject to any material dcparturcs disclosed and explained in the financial statcmcnt; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume thai the charitsble company will continue in operation. The Trustecs are responsibl¢ for k¢cping adcquatc acLounting records which disclose with reasonablc ac¢ura¢! at any time the tinancial position of thc charitablc company and enable them to cnsurc thut the fmancial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the asscls of the charitable company and hence for taking reonable steps for the prcvention and dctectfton of fraud and othcr I¢gUlaritICS. This report has been prep2Ted in accordarKe with the special provisions relating to small companies in Part 15 of ihe Companies Acl 2006. On behalf of the Board. mma Pell (Squire) Chair and Trustee 23 Octobcr 2025
INDEPENDENT EXAMINER'S REPORT TO THF. BOARD OF TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF BRtDPORT MUSEUM TRUST LIMtTED I report to the chatity Trustees on my examination of the accounts of the company for the year ended 3 1st Mch 2025 whiL'h are set out on pagos 1 I to 20. ResponsibilAties and basis of report As the charity Trustees of the company (and also its. directors for the purposes of company law) you are responsiblc for thc pryrntion of the COunlS in accordan with the requircments ofthe Companics Act 2006 ('the 2006 Act,). Having satisfied myself that thc accounts of the company are not required to be audited under Part 16 ot the 2006 Act and are eligible for independenl examinalion, I report in respect of my exarnination of your company's accounts as carried out under seclion 145 of th¢ Charities Acl 2011 ('the 2011 Act.). In carrying out my cxaniinatton I have tollowed thL Directions givLn by the Charity Commission under section 145{5Xb) of the 2011 ACL Independent examiner's statement I have cornpleted my examination. I confirni that no rnattcrs have corn¢ to my attcntion in connection with the examination giving me case to believe thal in any material respect: accounting rordS wer¢ not kept in respect of the company &s required by section 386 of the 2006 the accounts do not accord with those records. or the accounts do not compty with the accounting requirements of section 396 of the 2006 Act other than any requirement thai the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of thc Statement of Recommended Practice for aLxounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financiaj Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no concerns and have come across no other matters in connection with the examinalion to whicb attention should be drawn in this report in order to enable a proper under8tanding of the accounts to be reached. Mr. M. J Cridland B,A. (Hons) F.C.A Scott Vevers Ltd Chartered Accountants and Regi.8tered Auditors 65 East Street Bridport Dorset DT6 3LB U.l!Ll.Lr........ 10-
BRIDPORT MIJSEUM TRIJST LIMITED STATEMENT OF FtNANCIAL AcrIvI rtES (tNCLUDING INCOME AND FXPENDITURE ACCOUN'I'} FOR THE YEAR ENDED 31 MARCH 2025 Notes Restricted Unrestricted Funds Funds Total 2025 2024 Income and endowments from Donations and legacies: Donaiions L¢gacies Grants Admissions Service Level Agreements Sponsorship Trading Activities.. sales of goods Invesiment incorne Donated goods Other incom¢ including Collcction it7 sales 2,340 6,535 8,875 7.463 11.012 300 13,870 47,500 300 13,870 47,500 225 11,121 14,028 992 508 13,599 60,062 225 11,121 14.028 992 508 6,377 13,679 Totsl income and endowments 2.565 94,854 97,419 112,192 Expenditur¢ on Generaling income Charitable Aclivities 72 7.644 5,487 88.144 5.559 3.675 95,788 124,711 Total ¢xp¢nditure 7,716 93.63 I 101,347 128,386 Net Income l (Expenditure) for the year (5,151) 1,223 (3,928) (16,194) Transfers belween Funds (3,433) 3,433 Nct Mov¢m¢nt in funds for the year (8,584) 4.656 (3,928) (16.194) RecoD¢iliYdtion of funds Total Funds Brought Forward 221,360 125,822 347.182 363,376 Total Funds Carried Forward 212,776 130,478 343,254 347,182 The statement or rinancial activitie5 includes all gains and losses reCols¢d during the year. All inwme and expenditure derive from continuing activities. 11
BRIDPORT MUSEUM TRUST LIMITED BALANCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 Fixed Assets 10 25.628 30,439 Current Assets 6.078 7.850 322,360 2.873 18.050 313.638 Dcbtors and prepayments Cash at Bank and in Hand 336,288 (18.662) 334,561 (17,818) Credltors: amounts falllThg due within one year et Current Assets 3 l 7,626 316,743 Net Assets 343.254 347.182 Charity funds Restricted Funds Unrcstricted Funds 11. 12 212,776 130.478 221,360 125,822 343.254 347,182 For the year ending 31 March 2025 the company was entitled to excmption from audit under section 477 companil Act 2006 relating to small companies. Directors. responsibilities: lThc mernbers have not requir¢d the company to obtain an audit of its acLounts for the ycar in question in accordance with section 476. Th¢ directors acknowledge iheir responsibilities for complying with the requirements of the Act ith respect to accounling r¢cords and th¢ prepara(ion ofaccounts. financial statemLnts are prepared in accordance with the special pmvisions of Part 15 of the Companies Act 2(K)6 relating to small companies. Th¢ financial statements on pagcs I1- 20 We approv¢d by the Trust¢es, authorised for issue and signed on their behalt- by: Emma Pell (Squire) Chair and Trustee 23 October 2025 12
BRIDPORT MUSEUM TRUST LIMtTED NOTES TO THE. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.0 Accountlng Policies Th¢ principal accounting policics applied in the preparation of thc fanCIal 5tatcmcnts arc sd out below. These policies have been consistently applied to all the years presenied, unless othenvise staled. 1.1 Stst¢mcnt or compliance The charity constitutcs a public benefit entity as defined by 14RS 102. Thc financial statanents have been prepared in accordance with Accounting and Reporting by Charitics: Statcment of R¢commcnded Practice applicable lo charities preparing their accounts in accordance with ihe Financtal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) published on 16 July 2014 (as updated through LJpdatc IlullL'tin I publishcd on 2 Fcbruary 2016). the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Charitics Act 20I l. the Companies Act 2006 and UK Generally Accepted Practice as it applies frcAn l January 2015. Thc charity has applicd lJpdat¢ Bulletin l as published on 2 february 2016 and does not include a cash flow statement on thc grounds that it is applying FRS 102 Section IA. 1.2 Going concern The fmancial stdtcm¢nt5 arc prepared on a going Lonccrn basis undcr thc historic cost convention. The financial statements arc prcparcd in stCTling, which is thc functiunal currcncy of the company. Monetary amounls in these financial sialements are rounded to the nearest £. 1.3 Fund aecounting Unrestricted funds are available for use at the discretion of the Trustees in furtherancc of thc gcncral objectives of the charily and which have noi been deSAaled for other purposes. Restricled funds are subject to restrictions on their expenditure imposed by the donor. 1.4 Income reeognitlon All incoming resources are included in the Ststement of Financial Activilies (SOFA) when the charity is legally entitled to the income after any perfonnance conditions have been met. Ihe amounl can be measured reliably and tt is probable that the income will be received. For donations lo be recolSed the charity will have been nolified olthe amounts and the settlemenl dale in writing. If there are condition8 attached to the donation and this requires a level of perforn]ance before entitl¢ment be obtained then income is deferred until thosc conditions arc fully mct or thc fulfihncnt of thosc conditions is within the control of the charity and it is probable that they will be fuifillcd. Income from government and other 15 are recognised at fair value when the charity has enlidemenl after any perforniance conditions have been MCL it is probabl¢ that thc incomc will bc rLxcivcd and the amount can be measured reliably. If •]tttlement is not met then these amounts. ar¢ d¢fcrrcd. Interest income is reCols¢d when receivable and ihe amount can be measured reliably by the charity; this is nonnally upon notification of th¢ int¢re5t paid or payable by thc bank. 13-
BRIDPORT MUSEUM TRUST LIMITED NOTES TO THE fiNANCIAL S'I'A'rr.Ml..:N'13 FOR THE YEAR ENDED 31 MARCH 2025 1.5 Expenditure recognitiOD Expenditure is recognis¢d on an accrual basis as a liability is incued. Expenditure includes any VAT which cannot be lully reLovered, and is reported as part of the expenditure to which it rela*s: Expenditure on charitable activities comprises thos¢ costs incurrcd by thc charity in the delivery of its aclivities and services. It includes both costs ihat can be allocaled directly to such activilies and those costs of an indirect nature necessary lo support them. Other expenditure represents those items not falling into any other heading. Costs ofgeneraling income rb¢se are costs incU¢d in attracting volunlary incomc. thc rnanagement of investments and in trading activities that raise fimds. Chorilable activities Charitable expenditure comprises costs incurred by the charity in the delivery of its activities and services ror its beneficiaries. It includes costs that can be allocated directly to such activities and indirect costs necessary io support them. 1.6 Support costs Support cosL8 include central functions that a&8iSt the work of the charity bul do not directly represent charitable activitics. 'fhey are incurred directly in support of expenditure on the objects of th¢ charity. Where 5UPPOrt costs cannot be directly attributed to particular heading5 they have been allocated to cost of generating income and charilable aclivities on a basis consistent wtth use of the resources. 1.7 Tangible Fiied Assets Tangible fixed assets are Sted at cosi less deprecialion. Itans whose purchase price is £200 or more are capitalised. Depreciation is provided at rates calculated to write off the cost of fixed assets. less their Cstinutcd residual value, over their expected use1 lives on the following basis: I"'ixtures and fittings Furniture and equipment Computer equipmenl and printers - 200/0 per annum on cost - 33.30/0 per annum on cost 1.8 Debtors Debtors are recognised at the settlement amount. Prepayments are Valued at the amount Prepaid. 1.9 Cash and cash equivalents Cash and cash equivalents comprise cash on han(L call deposits and other short-tenn highly liquid investments Ihat are readily convertiblc to a known amount of cash and are subject to an insigniticant risk of chang¢ in valuc. 14-
BRIDPORT MUSEUM TRUST LIMITED NOTES TO THE FINANCIAL STATEMF,NTS FOR I'HE YEAR F.Nl)F*.D 31 MARCH 2025 1.10 Creditors and provisions Creditors and provisions are reco8nised where the charity has a presenl obli8alion resulting from a past evcnt that will probably result in thc transfer of funds to a third party and the amount duc to scttle the obligation can be me%ured or estimat¢d rellably. Creditors and provisions are nonndlly [OgnIsed at their settletnent amount. 1.11 Pen51011S The compa)y operates a defined contribution scheme for the b¢ncfit of its etnployccs. Contributions payable are charged An the Sthtement of Financial Activities in the year they are payable. 1.12 Fund structure Unrestricted income funds are general funds thal are available for use the Trustee5' discretion in furtherance of the charity's objects. Restricted inwm¢ funds are those donated for use in V4 particular area or for specific puwc. the use of which is restricted to that area or purpose. Service Ikvel Agreements During the year Dorset Council provided £40,000 (2024 £54,062) and Bridw)rt Town Council provided £7,500 (2024 £6,000) undcr Scrvice l.evel Agreements to support the work of the Museum. We continue to grcatly appreciate their support. Dorset Council funding has been set at £40,000 a ycar for three years from 2024-25 and Bridport Town Council confirnied funding of £7.500 a year for five yeats from 2024- 25. Costs of generatlng income 2025 2024 Costs of goods sold Card P%tym¢nt procc5sing fees and shop costs Fundraising Clyits 4,405 1,082 72 2.748 927 5,559 3,675 15
BRIDPORT MUSEUM TRUST LIMITED NOTES TO THE FINANCIAL STATEML.NTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of Expendilure on Charitable Activities 2025 Reslricled Unrestricted 2024 Total Note Totsl Expenditure stsff Costs Stsff training and travel sthrf recruilment Temporary management support Volunteer costs Exhibitiofy Learning Resources and Activities Advertising and publicity Conservalion and Lollection costs Other project costs Dissemination costs I-lealih & Safety I Covid-19 prttautions Renl and water Electricity and gas Insurance Property repairs and maintenance Telephone and broadband Compuler costs Prinling, postage and sialionery Office equipment leasing Sundry costs Cleaning cosls Memberships and subs¢ripiions Examination fees Prolessional fees TnL8tee recruitment and training Bank charge Depreciation 20,127 113 179 12,000 1,183 1.207 1,432 432 31.080 16 4,050 3,201 4,919 2,157 5,644 17.600 2,318 750 540 12 99 1,045 428 1,746 102 7.745 5,582 2.211 6.230 4,700 7.689 299 488 27 1.112 357 2,220 3,560 2,187 260 6,702 90 7,104 5,577 2,317 1,874 4,009 7,852 385 749 267 1,565 464 1,800 8,514 7,020 838 5,619 335 371 88,144 124,711 Staff Costs 2025 2024 Gross Salaries r.mployer Pension Costs in year Employcr P¢nsion Costs: adjust historic acrnl r.mploycr National Inburance Costs Statutory Maternity Pay reclaimed 20.047 80 38,238 l.147 178 (8,483) 20,127 31,080 No employcc carned more than £60.000 per annum (2024 - nil). Staff IYumberJ The &ver8g¢ monthly number of persons cmployLd by the charity during the period was l (2024 - 2.5). The average monthly number of full-lime equivalent employets (including casual and part time staffj during the year was 0.8 (2024 - 1.4). 16-
BRIDPORT MUSEUM TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR'I"HE YF.AR F.NDF.D 31 MARCH 2025 Defined Contribution Pensfion Scheme Thc charity is a member of the People's Pension defined contribution p¢nsion scheme. lThe schcmc and its assets arc held by independent managcrs. The pcnsion charge represents contributions due from the charity and amounted to £80 in the year (2024 - £1,147). Trustees, Remunernlion and Expenses No remuneralion was paid to Trustees in the year (2024 - Nil). During the year a total of£123 was reimbursed to onc 'l'rustc¢ for exyenses incurred on behalf of th¢ Charity (2024 - £Nil, no Ttustcc) and I'rustees received no other benefits. Taxation The charity is considered to pass the tesls set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore il meets the definilion ora charitsble company for UK COryK)ration tax purposes. Accordingly, the charity is potcntially exempt from taxation in rcspect of income and capital received within categorie5 coN'ercd by Chapter 3 Part I l of the Corporation Tax Act 2010 or Scction 256 of the I"axation of Chargeable Gains Act 1992, lo the exteni that such income or gains are applied exclusively io charitable purposcs. No tax charges have arisen in the year. 10 Fffixed A&gets Fixtures Furniture Computer Equipmenl Printers Total Fittings Lquipmcnt Cost.. At l April 2024 Additions Write back fully dcpreciated 28,870 951 3,211 17,840 940 49,921 1.891 At 31 March 2025 29,821 3,211 18.780 51,812 Depreciatxon.. At l April 2024 Char8e for the Year Write back dcpreciation 4,705 2.053 2,328 589 12,449 4,060 19.482 6.702 At 31 March 2025 6.758 2.917 16,509 26,184 Nel Book Value.. At 31 March 2024 24.165 883 5.391 30,439 At 31 March 2025 23,063 294 2,271 25,628 17-
BRIDPORT MIJSEUM TRUST LIMITED NOTES TO IHF. FINANCIAL STATEMEN'rs FOR THE. YEAR ENDED 31 MARCH 2025 I l Analysis of Charitsble Funds Balance at 1.04.2024 Income Expenditure Transfcrs Balance at 31.03.2025 Restrlcted Funds Sanctuary I'und Right Stuff Project Conservation Project DC S.106 Funding Textile Care Project Fine Arts Project Cabble Bquest Publicatio Fund 194,061 8,894 158 6,889 1,654 1,649 8,055 4,036 2,522 158 190,025 5.432 (940) 6,745 1.654 1.649 7,271 2,565 72 (2,493) 221.360 2.565 7.716 {3,433) 212,776 Unrestricted Funds Fixed Assets L)esignated Fund Collections Dcsignated Fund General Reserves 30,439 316 95,067 (4,811) 369 7,875 25,628 685 104,165 94,854 93,631 125,822 94,854 93.631 3.433 130,478 Total Funds 347,182 97.419 101,347 343,254 Restrirted Fund8 These fidS are subject to spccific purposes declared by the donors. The Sanctuary Fund supports the care. development and interpretation of the Sanctuary Collection. The Right Stuff Project W&8 established in 2019-20 with a funding agrccment from the Esmee Fairbaim Collections Fund. its purpose is a three year community engaged Collections review: the original hedule was delayed by Covid 19 and staffing changes. With the funder's agre£ment we will complete the work in the year 2025-26. "the cost of IT equipmcnt purchased for Collcdions rccording was transf¢rrcd from the Fund and cupitaliscd. The Conservation Project was established in 2019-20 with a £25,000 grant from West DOet District Council: its pwpose was the conscrvation of artworks in the "I'rust's Lollection. The DC S.106 Funding was established in 2020-21 with a £7,560 Section 106 grant from Dorset Council.. its puTse is environmental monitoring al the Coach House premises. The Textile Care Project was established in 2021k21 with a £2,495 grant from the Daphne Bullar(L Kathy Callow and Elizabeth Hammond Association". its purpose is the conservation of textilcs in the Trust's Collection. The fine Arts ProjLrt was established in 2021-22 with a £3.000 donation from the Bridport Old People". s Forum on thctr closurc: its purposc is thc conscrvation and acquisition ot'artworks. 18-
BRIDPORT MUSEUM TRUST LIMITED NOTES TO IIIE. I.'INANCIAI. SI'A'II;.MI.;NTS FOR THE YEAR ENDED 31 MARCH 2025 11 Analysis of Charitsble Funds (contd.) The Cabble Beque%t w&8 established during 2023-24 with a bequesl of £8,221., its purpose is the furtherance and maintenance of the Trust's Collection. The Publications Fund was e5tablish¢d during the year with the proceeds of a Crowdfijnder eampaign to support production of thc Qiiirky Bridport publication. Palmcrs Ijrcwery also sponsored a reprint of the BooLry Bridpori publicalion. The Fund's purpose is to support the production of Trust publication5 for sale in the Museum shop and more widely. Ai the year-end production cosL8 charged to the Fund were transferred to Shop Stock on the Balance Sheet. Unrestricted Funds: Designated Fllnds The Fixed Asset Fund reprcscnts th¢ Net Book Value of the Trust's working assets. this scparation clarifies ihe Unrestricled nel current assets (General Reserve), to which the TrtL8t's Reserves Policy is applied, 'n)e Collections Fund was cstablished 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 sel aside lo fund the long-terni sustainability, use and development ofthe Colleelion. During th¢ y¢ar a firth¢r £369 in Collection items sale prw¢ed8 was credited to the Fund. 12 Analysis of Net Assets Between Funds Restricted Funds UnrLstriLted Funds Total l.-ixed Assets Cash at Bank and in Hand Other current assets / liabilitic5 25,628 109.810 (4,960) 25,628 322,360 (4,734) 212,550 226 Total 212,776 130,478 343.254 13 Obligations under leases and bire purchase ¢ontracts Operating Leases commitments Total future minimum le&se payrnents under non-cancellabl¢ operating leascs are as follows: 2025 2024 Other Within onc year 488 488 14 Related Party Transaetions During the year there were no related party trunsartions (2024 - None). 19-
BRtDPORT MUSEUM TRUST LIMITED NOTES TO THE fiNANCIAL STATEMF,NTS FOII I"HE YF.AR F.NDI"D 31 MARCH 2025 15 FinAneial Instruments 2025 2024 Categorisation of Financial Instruments Financial assets that are debt instrument me&8ured at amortised cost Financial liabilities measured at amortised cost 332,069 18.662 330,526 17,818 Items of income, expense* gains or losses The totsl interest income for financial assets not measured at fair value through profit or loss is 14.028 13.679 -20-