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← The Staffordshire Regiment Museum Trust

2025-03-31-accounts

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST Registered charity number: 1096944

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DAINS AUDIT LTD

2 Chamberlain Square Birmingham B3 3AX

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Annual Report 1-7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes 11-17

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Reference and administrative information

Trustees

The charity trustees who served during the year and their appointing bodies are:

Brig S J Banton OBE Chairman Co-opted Brig (Retd) J K Tanner OBE Chairman (to October 2024) Co-opted Col A C D Walton MBE TD DL Co-opted Maj (Retd) M J Simpkins Co-opted Mr A Clyro Co-opted Maj (Retd) J B Massey Co-opted Lt Col D J S Bailey Resigned 3 July 2025 Co-opted Major (Ret) L Budd Appointed 12 June 2024 Co-opted Mr R Joynes Appointed 23 October 2024 Co-opted Lt Col M Brigham MBE Appointed 23 October 2024 Co-opted Museum director: Dr Rachael Abbiss

Address: Staffordshire Regiment Museum Defence Medical Services Whittington Lichfield Staffordshire WS14 9PY

Website: www.staffordshireregimentmuseum.com Charity No.: 1096944 Independent Examiner : M Gurney FCCA, DChA Dains Audit Ltd Chamberlain Square Birmingham B3 3AX Bankers HSBC Plc 49 Market Street Lichfield Staffordshire WS13 LB

1

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2025

Report of the Trustees for the year ended 31 March 2025

The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Trust Deed dated 15 April 2002, the Charities Act 2011 and 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 effective 1 January 2019.

.

Our Vision

To be a first-class, nationally recognised and sustainable Museum that uses the history of Staffordshire’s Infantry Regiments to move, inspire, challenge, educate and entertain.

“The Staffordshire Regiment Museum – Still Making History”

Our Mission

To provide a modern Museum experience that meets the widest range of needs and connects the public with its Army by telling the story of The Staffordshire Regiment, its forebears and successors and their impact on world history and modern society.

Our Objects

To educate the public and members of the Regiment in the history and military accomplishments of the Regiment; to promote military efficiency and encourage recruitment by public exhibition of the collection in a museum and to preserve, conserve, restore, repair and reconstruct objects in the collection.

Our Purpose

Our Values

2

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2025

Background

The Staffordshire Regiment (The Prince of Wales’s) was an Infantry Regiment of the British Army which was formed in 1959 by the amalgamation of The South Staffordshire Regiment and The North Staffordshire Regiment (The Prince of Wales's), whose antecedent regiments date from 1705. In 2007 The Staffordshire Regiment was amalgamated with two neighbouring county regiments to form the current Mercian Regiment (Cheshire, Worcester and Sherwood Foresters and Stafford’s).

Centrally located within the UK, the Museum sits in Staffordshire, close to Lichfield and Tamworth on land owned by the Ministry of Defence (MOD) and adjacent to Defence Medical Services Whittington (formerly Whittington Barracks). Positioned at the convergence of Staffordshire, Derbyshire, Leicestershire, Warwickshire and the West Midlands, it is within easy reach of several major population centres.

A Ministry of Defence (MoD) supported Army Heritage facility; The Staffordshire Regiment Museum was established on its present site in 1969, when the South Staffordshire Regiment and the North Staffordshire Regiment Museums were brought together, both of which were formed in the 1930s.

The Museum Trust receives Grant in Aid, from the MOD which can only be used against staff remuneration costs. The Trustees employ a full-time Museum Director, Events and Learning Officer, Assistant Curator and part-time team members utilising this grant and museum income. The Museum also has a team of duty staff who manage the facility at weekends to enable it to open 7 days a week.

The Museum is a medium-sized museum, comprising 11,000m[2] , spread over the Museum building (350m[2] ), parking areas and outdoor exhibits. Approximately 50% of the Museum building is accessible by the public. The main utility services, building maintenance and logistical support are provided free of charge under an Individual Business Arrangement (IBA) between the Museum and Army Strategic Command.

Based on a 10-year average, annual visitor attendance has been around 11,700 visitors. This year’s the visitor figures to the Museum (including 3,091 visits as part of learning programme) were approximately 16,418. This figure is very promising against a backdrop of cost-of-living pressures for households and lack of space and limited facilities at the Museum. The latter is a result of having to temporarily use classroom areas for short-term storage of Museum collections. The Museums event programme has continued to perform well, increasing in revenue from the 2023-24 period. The Event programme also enables the Museum to reach more visitors in engaging ways.

The majority of the visitors live locally, with a smaller number of day-trip and overnight visitors adding to the overall numbers. This year the Museum continued its successful educational programme which is important, addressing some of the Museum’s key objectives.. The learning programme provides for activities covering multi-subject Key Stages 1-4 of the National Curriculum using First World War, Second World War and Victorian-era resources and with volunteer re-enactors in costume leading the schools programme to bring history to life.

3

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 March 2025

Background (continued)

The artefact and archive collections comprises over 15,000 items with a total estimated value in excess of £1 million. The Museum's exhibits comprise a wide selection of uniforms, weapons, militaria and medals, including eight of the Regiment’s thirteen Victoria Crosses from the Regiment’s participation in various campaigns. Aside from the First World War trench, there are several other outdoor exhibits, including Second World War defence installations, play area and armoured fighting vehicles.

An estimated 15% of the collection is on public display. The remainder is stored securely in stores, which can be accessed by prior appointment.

A dedicated volunteer research team, led by the Assistant Curator, utilises the Museum’s document and collections archive to deliver projects and help with public genealogy requests and academic study.

The Museum received full accreditation from the Museums, Libraries & Archives Council (MLA) in July 2009 and was reaccredited by Arts Council England in 2013 and March 2019.

Governance and Management

The Staffordshire Regiment Museum is a registered charity in England and Wales (Charity Number 1096944) and is constituted by a Deed of Trust dated 15 April 2002. The deed provides for the appointment of not less than 7 not more than 13 Trustees (including three ex-officio appointments). The existing Trustees are authorised to co-opt new Trustees from time to time and for any period, as they think fit. Some of the Trustees have previously served in The Staffordshire Regiment, and some currently serve with the Mercian Regiment, whilst others are specifically recruited for their professional expertise in key areas that support the governance of the museum.

There is an induction process for newly appointed Trustees and there are procedures in place to keep upto-date with changes to charity law and practices. The Trustees set the objectives for the museum through the publication of a museum development strategy, which details a high-level, medium-term budget, to provide the basis for the setting of the annual museum budget by the Trustees. The Trustees hold at least two ordinary meetings a year, in addition to regular correspondence, to maintain the governance of the Museum.

Day to day Museum operations is managed by a Museum Director and their support team. The current Director, Dr Rachael Abbiss, started at the end of January 2025. The core team hold regular management meetings to plan, direct and conduct museum activities and support the objectives of the development strategy and are further supported by casual staff who enable the Museum to remain open at weekends. The management team benefits from the support of a group of 80-plus volunteers, who provide the backbone of the museum’s activities.

The Museum is also supported by The Friends of The Staffordshire Regiment Museum, whose available funds are incorporated within these accounts.

4

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2025

Risk Review

The trustees have examined the major internal and external risks that the charity faces and confirm that systems and policies have been established to minimise and manage these risks.

Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s General Guidance on Public Benefit and have complied with their duties under the Charities Act 2011.

Our key beneficiaries are (in no particular order):

Review of Progress and Achievements

Continuing the improvements from the 2023-24 financial year, the Museum has continued to develop its learning and events programme, which has helped deliver substantial income for the Museum Trust. The event highlights for 2024-25 included the popular annual ‘Blitz’ event, ‘Meet the Yanks’, ‘Communication’, ‘Forgotten Altar’, a commemorative Arnhem themed day, the Knot Car Club Show and vintage and militaria fairs, alongside Discovery Days and finishing with an immersive First World War event. The Museum continued to develop external exhibits in conjunction with The Friends of The Staffordshire Regiment Museum with particular focus on the First World War Trench.

Longer term, The Museum developed in 2012 its strategy to 2020 to develop the Museum offer and governance, which was delivered. However as noted previously the Museum building and displays are showing their age and is too small to be able to further develop its operation, activities or income much above current levels. This limits its ability to be financially self-sustaining, although through the Museum Team the Museum has come closer to conducting sustainable operations within its current facilities. Over the last few financial years, the Trustees have been looking to the future and developing the site with a new museum building and improved external installations and facilities. The Mercian Regiment has agreed to base its museum and heritage operation at Whittington. This will ensure that the Whittington site will retain MOD funding beyond 2030 when other MOD supported museums will see their funding end. The agreements concerning the lease have started to reach conclusion and a major fundraising campaign will be launched to begin raising the funds for the planned redevelopment project. The project is to be planned in stages so as not over-reach the Trust at one specific time. This will conclude with rebranding and the development of a new museum: The Staffordshire and Mercia Military Museum (SAMMM) to better educate, engage and inspire visitors about army heritage.

In recognition of the Museum’s work and the outstanding contribution of the volunteers who provide the backbone of the Museum, The Staffordshire Regiment Museum was awarded the Queen’s Award for Voluntary Service in June 2013, and the Volunteer Team at the Staffordshire Regiment Museum continues to thrive and see its efforts rewarded through various local and regional awards in 2024. The Trustees are well aware that without the support of our team of dedicated volunteers the Museum would not be able to operate and deliver on its core purposes.

The Trustees would like to specifically acknowledge with gratitude the role the Museum Volunteers play in the Museum’s continued success.

5

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 March 2025

Funds held as Custodian Trustee

During the year the Museum acted as custodian trustee for the Veteran’s Hub as detailed in note 14 to the accounts.

Reserves Policy

Unrestricted funds held at 31 March 2025 totalled £418,871 of which £367,517 are regarded as free reserves after allowing for funds tied up in heritage and tangible fixed assets.

The target level of reserve, determined by the Trustees is to be the equivalent to 12 months operational expenditure (including salary costs, less Grant-in-Aid), which would allow the Museum to continue to operate in the event of an unforeseen emergency or other unexpected need.

The target range for free reserves in the current financial year is c.£100,000, which should be held in investments, bonds or on deposit and which can be easily realised without penalty. Current reserves exceed the target, however, the Trustees consider this acceptable in view of the Museum’s longer term development plans. For 2025/2026, the Trustees have committed £60,000 of reserve funds towards the installation of a new modular building (educational facility/classroom).

Investment Policy

The Trustees have continued to invest a proportion of these excess funds in equity funds via Hargreaves Lansdown. Dividend income from the Funds is withdrawn in order to fund operational expenditure.

At 31 March 2025, the investments held by Hargreaves Lansdown had a market value of £290,401.

6

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2025

Statement of trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and Trust Deed. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by:

J B Massey

Date: 28 January 2026

7

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

Independent Examiner's Report to the Trustees of the Staffordshire Regiment Museum Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 9 to 17.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come 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 reached.

M Gurney FCCA, DChA Dains Audit Ltd 2 Chamberlain Square Birmingham B3 3AX

Date: 28 January 2026

8

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Restricted Designated
Funds
Funds
Funds
Notes £ £ £
Income from:
Donations & legacies 2
8,589
26,728
-
Other trading activities
3
17,131
-
-
Investments 4
15,154
-
-
Charitable activities
Museum admissions inc. events
49,564
- -
School visits
15,642
-
-
Other
550
-
-
Transfer Staffordshire TA Trust
-
-
-
__
_
_
Total Income
106,630
26,728
-
_
_
_
Expenditure on:
Raising funds
3
12,062
-
Investment management costs
923
-
-
Charitable activities
7/8
119,408
24,728
-
Other costs
Independent examiner
9
2,850
-
-

__
_
Total
135,243
24,728
-
_
_
_
Unrealised gain/(loss) on investments 12
6,797
-
-

__
_
Net income
(21,816)
2,000
-
Reconciliation of funds:
Fund balances brought forward
440,687
-
15,432

__
_
Fund balances carried forward
418,871
2,000
15,432
__

____		 Total
Total
2025
2024
£ £
35,317
51,028
17,131
15,371
15,154
13,147
49,564 38,562
15,642
16,407
550
867
-
__
_
133,358
135,382
_

12,062
13,511
923
757
144,136
129,977
2,850
2,700
_
_
159,971
146,945
_
__
6,797
7,432
_
_
(19,816)
(4,131)
456,119
460,250


436,303
456,119

___

9

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

BALANCE SHEET AS AT 31 MARCH 2025

Notes 2025 2024
£ £ £ £
Fixed Assets
Heritage Assets 1e/11 44,700 44,700
Tangible Assets 10 6,654 6,465
Listed Investments 12 290,430 284,553
______ ______
341,784 335,718
Current Assets
Stock 10,213 10,922
Debtors 14 3,685 4,075
Cash at Bank and on Deposit 13 115,538 140,623
______ ______
129,436 155,620
Current Liabilities
Creditors 14 34,917 35,219
______ ______
Net Current Assets 94,519 120,401
______ ______
Net Assets
436,303 456,119
______ ______
Represented By:
Designated Funds –
Museum Endowment Fund 15,432 15,432
Restricted Funds 2,000 -
Unrestricted Funds 418,871 440,687
______ ______
436,303 456,119
______ ______

These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)

These financial statements were approved by the Board of Trustees on 28 January 2026 and signed on their behalf by

.............................................................. S J Banton

………………………………………… J B Massey

10

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting Policies

a. Basis of Accounting

The financial statements have been prepared under the historical cost convention. 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) effective 1 January 2019, and the Charities Act 2011 and applicable regulations.

The charity constitutes a public benefit entity as defined by FRS 102.

b. Income

All income is included when receivable.

c. Expenditure

Expenditure is included on an accruals basis.

d. Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment - 25% reducing balance Portacabin - 25% reducing balance Fixtures & Fittings – 15% reducing balance

e. Heritage Assets (Museum Collection)

Heritage Assets are those types of assets where no reliable cost information is readily available and there is no suitable valuation technique. Heritage assets costing more that £1,000 are capitalised and included on the Balance Sheet. Heritage assets costing less than £1,000 are included in cost of charitable activities in the year of purchase. Disposals of assets are very infrequent, and are supervised by the Trustee Board. The museum collection comprises over 16,500 individual items (objects and archive). The museum records assets on Modes Complete (collections database system) which supports the UK Museum Accreditation Scheme's standards, particularly the Spectrum 5.0 procedures for collections management, allowing staff to manage diverse collections, track objects, meet documentation requirements, and facilitate public access and research. Heritage assets are maintained either at the Museum site, or in secure storage, and are appropriately insured. More detail is provided within the Trustee Report.

Details of the purchases of heritage assets over the last 5 years are included as note 10 to these accounts.

f. Listed investments

Listed investments are initially recognised at transaction value and subsequently measured at their market value at the balance sheet date.

g. Stocks

Stocks consist of items for resale. Stocks are valued at the lower of cost and net realisable value.

h. Fund Accounting

Unrestricted funds are funds available for the general objects of the charity.

i. Designated Funds

The designated funds represent those funds which the trustees have designated for a particular purpose.

j. Restricted Funds

Restricted Funds represent funds which are to be used for specific purposes laid down by the grant making body or donor.

11

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

2. Donations and Legacies

Donations and Legacies
Unrestricted Restricted Total Total
2025 2024
£ £ £ £
Donations 4,085 - 4,085 5,672
Tax repayable on Gift Aid/GASDS 4,004 - -4,004 3,893
Legacies 500 - 500 11,000
Grants
Ministry of Defence - 26,728 26,728 23,663
Victoria and Albert Museum - - - 6,300
RHQ Mercian - 500
___________
8,589 26,728 35,317 51,028
_________

Restricted grants are detailed in Note 15.

In 2024, £31,071 of the total donations and legacies represented restricted income.

3. Other trading activities

Income
Shop Sales
Research
Cost of raising funds
Opening Stock
Purchases
Closing Stock
4
Income from Investments
Investment income
Bank deposit interest		 2025
£
15,429
1,702
__
17,131
_
10,922
11,353
(10,213)

12,062

2025
£
12,719
2,435

15,154
___		 2024
£
14,056
1,315
__
15,371
_
9,830
14,603
(10,922)

13,511

2024
£
10,465
2,682

13,147
___

5 Trustees Remuneration, Expenses and Related Party Transactions

No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them. Trustees’ subsistence expenses during the year amounted to £150 (2024 - £120).

12

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

6 Volunteers

The Museum has a strong core team of around 80 regular volunteers who provide invaluable support to the Museum’s daily operations. On joining, a new volunteer may choose to work in one of three key areas, Education, Research or Front of House, although their activities are not restricted and they may work in all areas, and also assist with special events if they wish to.

The number of hours worked by volunteers has increased slightly since 2024 and enquiries remain high with visitors requesting information about volunteering roles at the site. During the year the volunteer team delivered 5,300 hours (2024 – 5,020 hours) of support activity, broken down as follows:– Education (1,300 hours), Research (1,000 hours), Front of House – reception and shop (1,500 hours),Special Events (1,500 hours).

The above are average figures recorded from the core volunteering tasks that the team carry out on a regular basis at the Museum but do not included the many other ad hoc tasks such as maintenance days. The activities carried out by the Friends of the Museum are also not included above.

7 Charitable activities

7
Charitable activities
Unrestricted Restricted Designated Total Total
Funds Funds Funds 2025 2024
£ £ £ £ £
Exhibit Display Materials 1,321 - - 1,321 2.100
Exhibit & Event Insurance 3,386 - - 3,386 3,354
Archives, Exhibits, Storage
& Conservation 1,690 - - 1,690 443
Volunteers Expenses & Training 366 - - 366 1,379
Staff and Trustee Expenses 1,099 - - 1,099 905
Staff Training 359 -
 359 -
Education 827 - - 827 1,905
Events 1,450 - - 1,450 1,971
Salaries & National Insurance 77,795 24,728 - 102,523 88,288
Accounting and HR Services 2,730 - - 2,730 3,473
Printing, postage & stationery 1,385 - - 1,385 1,308
Journals & Subscriptions 1,114 - - 1,114 1,053
Advertising & Publicity 1,376 - - 1,376 1,254
Depreciation 2,111 - - 2,111 2,028
Exterior works/ large works 4,796 - - 4,796 5,376
General Maintenance 3,323 - - 3,323 1,161
IT costs 243 - 243 1,326
Till rental & expenses 2,198 - - 2,198 2,504
Website maintenance 1,345 - - 1,345 999
Legal fees 544 - - 544 -
Building inspection report - - - - 2,350
Regimental Association – heritage 5,847 5,847 5,750
Bank charges 161 - - 161 155
Sundry expenses 902 - - 902 895
Irrecoverable VAT 3,040 - - 3,040 -
_____ ______ ______ ______ ______
119,408 24,728 - 144,136 129,977
______ ______ ______ ______ _____

In 2024 the expenditure on charitable activities was £129,977 of which £24,271 was from restricted funds and £105,706 was from unrestricted funds.

13

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

8 Staff Costs and Numbers

2025 2024
£ £
Salaries 96,732 85,520
National Insurance 2,444 1,186
Defined contribution pension contributions 3,347 1,582
______ ______
Total 102,523 88,288
______ ______
Average Number of full time equivalent employees furthering the charities objects 3 3
______ ______

No employee earned more than £60,000 (2024 - £nil)

9 Independent examiner

The independent examiner’s fee of £2,850 includes £1,550 in respect preparing the statutory accounts and other advice.

10 Tangible Fixed Assets

10
Tangible Fixed Assets
Computer Fixtures &
Equipment Portacabin Fittings Total
£ £ £ £
Cost
At 1 April 2024 12,317 29,520
34,459		 76,296
Additions 2,300 -
-		 2,300
_____ _____
______		 ______
At 31 March 2025 14,617 29,520
34,459		 78,596
_____ _____
______		 ______
Depreciation
At 1 April 2024 10,596 25,582
33,653		 69,831
Charge for Year 1,006 984
121		 2,111
_____ _____
______		 ______
At 31 March 2025 11,602 26,566
33,774		 71,942
_____ _____
______		 ______
Net Book Value
At 31 March 2025 3,015 2,954
685		 6,654
_____ _____
______		 ______
At 31 March 2024 1,721 3,938
806		 6,465
_____ _____ ______ ______

14

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

11 Heritage Assets

Heritage assets comprise an anti tank gun, which was purchased in 2022 at a cost of £32,100 and Lieutenant Colonel Philip Eyre’s medal set which was purchased during 2024 at a cost of £12,600.

The purchases of heritage assets costing less than £1,000 are included within “Archives, Exhibits, Storage & Conservation”.

There were no such purchases during the financial year.

The equivalent figures for the previous 4 years are as follows: 2024: £nil, 2023: £nil; 2022: £nil, 2021: £nil, 2020: £4,888.

Whilst exhibits are regularly updated, and items replaced or repaired as necessary, no heritage assets have been sold during the last 5 years.

More detail on the extent and nature of heritage assets held by the Museum is provided in the Background Section of the Trustee Report

12 Listed Investments

During the financial year investments were held in Equity Income Funds managed by Janus Henderson Investment Funds Limited, Fidelity Investment Funds and CT Investment Services Limited, using the Hargreaves Lansdown investment platform.

Janus Henderson Global
Equity Income Fund
CT UK Equity Income Fund
Fidelity Enhanced Income
Fund
Total Funds
Cash
Total		 01-Apr-24
£
98,084
115,537
70,820		 Additions
Disposal
Unrealised
gain
£
£
£

-
568

-
837
6,908

-
(679)		 31-Mar-25
£

98,652

121,608

70,141
284,441
112		 -
837
6,797		 290,401
29
284,553 290,430

13 Cash at Bank and On Deposit
Cash at Bank and On Deposit 2025 2024
£ £
Deposit Accounts 105,939 132,704
Current Accounts 9,000 7,579
Cash in Hand 600 340
______ ______
115,539 140,623
______ ______

15

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

14 Debtors & Creditors 2025 2024
£ £
Debtors
Tax repayable on Gift Aid 903 951
VAT recoverable - 1,056
Other 2,782 2,068
______ ______
3,685 4,075
______ ______
Creditors
Funds held as Custodian Trustee 27,792 27,629
Creditors and Accruals 7,125 7,590
______ ______
34,917 35,219
______ ______
Funds held as Custodian Trustee
Balance at Balance 31
April 2024 Income Expenditure Transfer March 2025
£ £
 £ £
Veteran’s Hub 27,629 1,787 320 1,304 27,792
Total 27,629 1,787 320 1,304 27,792

The balance held on behalf of the Veteran’s Hub is held in the Staffordshire Regiment Museum Trust bank account and separately identified within the accounting records.

15 The assets and liabilities of the charity are represented by the funds as detailed below

Unrestricted Funds
Fixed Assets
Net Current Assets
Total Unrestricted Funds
Designated Funds – Net Current Assets
Restricted Finds – Net Current Assets
Total		 2025
2024
£
£
341,784
335,718
77,087
104,969
418,871
440,687
15,432
15,432
2,000
-
436,303
456,119

16

THE STAFFORDSHIRE REGIMENT MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

15 (continued)

Restricted Funds - 2025

Ministry of Defence Grant
AMOT
Total
Restricted Funds - 2024		 1 April
2024
Incoming
Resources
Expended
Resources
31 March
2025
£
£
£
£
24,728
(24,728)
-
2,000
2,000
26,728
(24,728)
2,000
ed Funds - 2024
Ministry of Defence Grant
Victoria and Albert Museum
RHQ Mercian
Other
Total		 1 April
2023
Incoming
Resources
Expended
Resources
31 March
2024
£
£
£
£
-
23,663
(23,663)
-
-
6,300
(6,300)
-
-
500
(500)
-
-
608
(608)
-
-
31,071
(31,071)
-

Restricted Funds relate to grants from the following bodies;

Ministry of Defence Grant - grant to cover salary payments. The AMOT grant was towards a display project. Victoria and Albert Museum and RHQ Mercian – towards purchase of Lieutenant Eyre collection. Other donation was specifically for a family event.

17