Charity registration number 1102001 (England and Wal￿> THE AMERSHAM FAIR ORGAN MUSEUM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 THE AMERSHAM FAIR ORGAN MUSEUM LEGAL AND ADMINISTRATIVE INFORMATION Trustoès MrJPBrice Mr RACampbel Mr P Cartino Mr P R Davies Mr R Elliott MrBJEty Mr M R Frampton Mr 8 K Kellett Mr K G Meayers Mr A Tyler￿00re Charlty number (England and Wale81 1102￿1 Independ?nt Examlner Dickinsons Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG THE AMERSHAM FAIR ORGAN MUSEUM CONTENTS Page Trustees, report Independent examinerfs report Statement ol financial activiti'es Balance sheet Notes to the financial st8lemenl$ 7-13 THE AMERSHAM FAIR ORGAN MUSEUM TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual report and finanaal statements for the year ended 31 December 2025. The financial statements have been prepared in accordanc£ with the accountsng poliaes set out in note 1 to the financial 5tstements and comply with the charity's goveming document. Ihe Charitie5 Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland. and the Charities SORP 'Accounling and Reporting by Charities. Statement of Recommended Piacbce applicable to charthes preparing their accounts in accordance with the Finanaal Reporting Standard appI￿able in the UK and Republic ol Ireland IFRS 1021.. Oblectlves and actlvltles The purpose of the charity 1$ Ihe promotion and maintenan¢e of a museum of fairground organ$ and their an¢i118ry equipment, figurin¥$, carvings, pidures, prints and othèr works of art asso(iated with fairground$, for the benefit of the public. The collection was founded by Albert Edward 'Ted' Reed 11926- 20221 who had a keen interest in steam engines and fairground equipment, notabty mechanic81 organs. From Ihe 1960s onward. Ted expanded hi5 collection. In 2004. 8 chartsble trust was formed in order lo safeguard the fvlure of this iconic collection and make il available to the publi¢ lo ènsurÈ that this importanl part of 81i¢ain'$ heritsge 1$ se(aAr& for fijlure gènèrations lo ènjoy. The charity furthers its charitable purposes for the public benefft through the maintenance, repair, renovation, renewal and acquisition ol the fairground organs. their ancilliary equipment. and other artists'c works belonging to or in the process ol acquisition by the charity. The charity is run day-tTrday by the trustees. The charrty holds open days (free admission) for Ihe public 85 well a5 private tours for individuals and groups and venu8 hire for èvents. These sales totalled £7,710 for the year ènded 31 December 2025 12024. É9,7721. Membership income and Incom8 from Small donation$ from Membe￿ of the publlc and frlends total$8d £7,355 12024. £2,1171. During the year. the charity ￿ceIVed legacies of £32.93512024'. £1.407.9501, comprising of instrurnenls, and organ music. which will enable the charity lo further rts aiffls and objectives. Public benefit In shaping the organisation's objec¢Nes for the year and planning rts future actNit￿s. the trustees confirm that they have referred to the Charity Commission's general guidance on public benefrt. including guidan￿ on public benefit and lee charging. 11 is the judgmenl ol the Iruslees thal activities in pursuil ol the above objectives fulfy meet the public benefit lest, demonstrated ty the Iree admission open days. whith they have kept in mind when planning programmes for the charity. Achl•vements and porforn)anc• Signifio8nl activities and achievefflenls gg8in$l obJe¢tives The benefits of the charitable trust's work are ihe education. promotion and enjoyment of fairground organs and related equiprnenl tha¢ is evidenced by visitors visiting the Charity's museum in Amersharn and the public. at large. recognising the museum as a part ofAmersham's heirtage. The museum Is booked for pnvate events and functions by extemal organisations who ￿e0gnIse the heritage and nostalgia of the fairground indusby in Bntain, which makes this venue speoal and a lrtde dfft￿nt. The charty has an annual mernbership scheme lrtled "Friend of the Amersham Fair Organ Museum. which is pri￿d al £10 per UK mernber. Thi5 fijrther directty suppor15 Ihe WO￿ ol the charity ITh pursuing its charitsble objectives by providing interested mernbers of the public wrth". priorty dispatch of newsletters.. advance notice of speGi81 event5.. opportunities to volunteer on open days," and participate in special visit5 to other places of related interest. THE AMERSHAM FAIR ORGAN MUSEUM TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Flnanelal re¥l•w The charity's work is entirety reliant on donations. sales of private tours of the museurn. venue hire for private functions and the sale of refreshments during public open days. The charty rèported a net defiat of £176,289 12024. £1,377,822 net income). This is mainly attributable to repair and maintenance costs amounting to £188,936 12024.. £5.4531 relating to the renovabon, which induded a toilet block extension and a new seNery provision. and upkeep ol the museum p￿miSes. The UK econorny is f8cing a period of uncertsinty and low growth coupled wilh Ihe effects of global inflation 8nd high interest rates resulting in a squeeze on Gost of living standards. As 8 result mernbers of the public have less disposable income to spend on hobbies, interests and recreational activit*s, such as visiting the charity's museum or subscribing to Its annual membership scheme. The chanty is run day-to4ay by unpaid Trustees and volunteers wtho provide substantial savings for the charity. Due to 8 significant legacy received in 2024, the charity h85 maini8inèd 8 strong finan¢i81 p05rtion with nttl assets of £1.397,664 as al 31 De¢ember 202512024." £1,573.953}. k rnana ernent The principal risks faced by Ihe charity a￿ challenging UK economic conditions affecting general cost ol living standards which limit the disposal income members of the public have to spend visiting the museum or rnaking donations to charities in gener81. Further. Ihe charty itself laces rising overhead Costs in terms of energy bills and rising costs of maleri315 and sewvices required lo run the museum and rts 8880ty8ted activities. rves The trustees aim to maintain I￿e rese￿eS In unrestrkted funds al a level whSch equates to approximately 6 months of unrestricted charitable expenditure. The trustees consider that reserves at Ihis level will ensure that, in the event ol a significant drop in funding. they will be able to continue ihe tharity's rJJrrent activrties while consideration is given to ways in which additional funds may be raised. pi The charity plans to complete the refurbishment and building works to the museum premises, increase the number of open days wrth a schedule of th"cketed summer events and continue to maintain the instruments in the collection. Structure, govemance and management The ¢h8rilable Irusl is a registered Gharity, nun*¢r 1102001, and i$ con$tiluled undef 8 trust d¢ed dalgd 5 January 2004. Nothing in the trust deed restricts or exdvdes the exercise by the trustees ol the powers given by the Trustee Act 2000 as regards investment. Ihe acquisition or disposal of land and Ihe employment of agents. norninees and CU5todian5. In addition to their Statutory powers. the trustees may delegate any of their powers or function5 to a Commrttee of Iwo or more trustees. A Committee musl act in 8¢wrrated thanty ￿gIStered wth the Chanty Commission for England and Wales. 1.1 Basis of preparation The financial statements havè beèn prepared in accordance with thè charity's goveming document, the Charities Act 2011, FRS 102 "The Finanual Reporting Standard applicable In the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The charity is a Public Benefit Entrty as defined ty FRS 102. Thè financi81 st8tgmènts have departed from tt)e Charities (A¢¢￿￿t$ and Reports) Regu18tion$ 2008 only to the extent require¢J to proV￿e a true and lair view. This departure has involved following the Slalement of Recommended Practice lor charibes apptying FRS 102 rather Ihan the version of the Statement of Recommended Practice which is refeThed to in the Regulations but which has since been withdrawn. The financial statements are prepared in steding. which is the luncb'onal oJrTenry of the charity. Monetsry amounts in these financial statements are rounded lo the ne8rest pound. Th¥ financial $tsl¢m&nl$ have ￿en prepared under lh& hl$lori¢al ￿$1 ¢onven¢lon, modlfied lo Indud& Investment properties and certain Ilnandal Instruments at fair value. Thè prinapal ac¢ountlng pollcl8s adopted are set out below. 1.2 Golng concern At the time of approving the finan¢ial $latemènts. trust88$ have a w$onabl8 expectatlon that the Cha￿ty has adequate resources to continue in operational existence for the foreseeable lulure. Thus the trustees continue to adopt the going concern basis of accounling in preparing the finanaal statements. 1.3 Charitabl• fund• Unrestricted funds are available for use al the discretion of the trustee3 in lurtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legalty enlrtled to it after any perfomance conditions have been met, the amounts can be measured ￿liabfy, and rt is probable thal income will be received. C8sh donations are recognised on receipt. Other donats.ons are recognised once the charty has been notified of the donation, unless perfonnance condib.ons require deferral of the amount. Income tax recoverable in lat￿Tr to dona(MJns ￿CeNed under GiftAid or deeds ol covenant is recognised at the tirne of the donation. Legacies are recognised on receipt or olhemse rf the cJ)arity has been notified of an impending distribution, the amount is known with reasonable certainty and receipt is expected. THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Continued) 1.5 Exp•ndltur• Eypenditure is recognised once Ihere is a legal or constructive obligation to Iransfer economic benefit to a third paty. r( is probable that a transfer of e￿nOMiC benefits will be iequired in settlement, and the amount of the obligation can be rneasured reli8bty. Expenditure is dassified by athvty. The costs of each adivrty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each acbvity. Direcl costs attributable to a single activity are allocated directy to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single actyvty are apportioned betsveen those activities on a basis consistent wrth the use of resources. 1.6 Tangible fixed assets Tangible fixed assets are inrtialty measure£l at Cost and subsequenty m•asurèd at Cost or valuation, net of depreciation and any impainnent losses. D¥pre¢ialion is re¢¢gni$ed so as to VAilt off the ￿$1 or valuation of assets less their resi¢Jual values over their useful Ibves on the follo￿n9 ba￿$.. Freehold land and buildings Organs and related equipment Freehold improvements Not depreciated 20% ￿'tIen down value 20% ￿l*n down valu& The gain or loss arising on the di5P0581 of an asset is determined 85 the dfflerence befvrfeen the Sale proceeds and the carrying valu& of the 8$sel. and 1$ recognised in the $￿tement of finan¢ial 8divrtie$. 1.7 Investment property Investment property, which is property held lo eam rentals andlor for caprtal appreciation, is initial recognised at cost, which incfudes the purchase cost and any direclty attributable expenditure. Subsequent it is measured at fair value at the reporting end date. The surplus or deficit on ￿valUation is recognised in profit or loss. 1.8 Impalmient of Ilxed a88eis Al eath reporting end dale, the Gharity Te¥iews the carrying amunts of ils tangible assets lo determine whether there is any indication that those assets have sUffe￿d an impaimient loss. If any such indication exists, the recoverable amount of the asset is eslimated in order to detemine the extent of the impaimient loss lif any). 1.9 Ca8h and eash equival•nts Cash and cash equivalent5 indude cash in hand. deposils hell at call with banks. other short-terrn liquid inve5trnenls wih ori9inal malurities of Ihree months or less, and bank overdrafts. Bank overdr8fts are shown wrthin borrowngs in curTenl liabilities. 1.10 Flnanclal Instruments The charty has elected to appty the provisions of Se¢1ion 11 'Ba$ic Finan(i81 Instfument5' and Section 12 'other Finanrial Instruments Issues. of FRS 102 to all of rts finanrial instrumÈnts. Financial instruments are recognised in the chanty's balance sheet when the chanty becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. wilh Ihe nel amoun15 presenled in Ihe financial slalemenls. when there is a legalty enforceable right to set off the recogni5ed amunts and there is an intention to settle on a net basis or to ￿alise the asset and setue the liabilrty simumaneousty. THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Continued) Basle finanelal ass•ts Basic finanrial assets. which indude debtors and cash and bank balances. are initially measured at tr8ns8ction price including transaction costs and are subsequenty carried at 8mortysed c05t Using the effective interest method unle55 the arrangernent oon5titutes a financing transaction. where the tr8nS8Ction is measured at the present value ol the luture receipts discounted at a market rate of interest. Finanaal assets classified as re￿1vable within one year are not amortised. Basic financial liabilities 8asic financial liabilities. induding creditors and bank loans are inrtially recognised at transaction price unless the arrangement constitutes a finanung transaction. where the debt instffjment is measured at the present value ol the future payments discounled al a market rate of inlerest. Finanaal liabilities classified as payable wrthin one year are not amortised. Debt instruments 8re 8ubsequentty carried at amortl8ed cosl. using the effective interest rate method. Trade creditors are obligations lo pay for oocrfls or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due wthin one year or less. If nol. they are presenletj as non-currenl liabilities. Trade credrtors are recognised initially at transactMJn price and subsequentty measured at amortised cost using the effective interest Method. Dorecognition ol finonclal liobiliti•s Financial liabilities arè dèrecognised vthen the charity's contractual obligations expire or 8r& discharged or cancelled. Income trom donatlon• and legacle8 Unr*$trleted funds 2025 Unr¢$trlet•d funds 2024 Donation¥ and gifts Legacies 7.355 32,935 2.117 1,407,950 40,290 1,410,067 Income from charftable actlvltles Unrèstriet•d funds 2025 Unrostrict•d funds 2024 Open day sales and private events 7.710 9.772 THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ineom• from Inv•stm•nt$ Unrestricted Unrestrlcted funds funds 2025 2024 Interest receivable 4,949 Other Incom• Unre8tricted Unre8trlcted fund• fund8 2025 2024 Net gain on disposal of tangible fixed assets 496 Exp•ndltur• on charftabl• actlvrtl•• Unre8trtcted Unrn8trlcted funds fund8 2025 2024 Dlrect costs Depr¥¢iation and Impain￿ent Museum Supplies Rapairs and Maintenan Rates Power, Light and Heat Computer Running Costs Bank Charges Insurance Subscripts'ons Travel Telecommunications Prfnting, Postage and Stationery Accountsncy Donations Lègal and professional Other tharitsble expendrture 21,080 1,458 188,936 2,251 3,699 244 52 3,560 109 64 783 642 3.150 23,739 1,366 5,453 2.643 2,595 513 212 24 113 1.588 743 3.000 229 2,350 1,356 229.734 42.221 THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 N•t mov•m•nt In funds 2025 2024 The net movement in fijnds is stated after chargingllcredrtingl= Fees payable for the independenl examination of the charl￿S financial slalernenls Depreciation of owned tangible fixed assets IProfilllloss on disposal ol tangible fixed assets 3.000 23,739 21.080 14961 Tru¥tee¥ None of the trustees lor any persons ¢Onnect￿ with th¢ml ￿ce6Ved any remuneration or b¢nefits from thè charity during the year. Other •xp•ndltur• UnreBtricted UnreBtrlcted fund• funds 2025 2024 Net loss on disposal of langible fixed assets 10 Taxatlon The chanty is exempt from taxation on its activities because all its income is appl￿d for charitable purposes. 11 Tanglble Ilxed aMel* Fro•hold land Ory•n• Ind Fmhold •n¢ bulldlng• rolltsd Improvgmgn¢• gqulpmont Tot•1 Cost At 1 January 2025 Additions Di$posal$ 150,0 117.956 30.935 124,0001 267.956 40,321 124,0001 9.386 At 31 December 2025 150.0 124,891 9,386 284,277 Depreclatlon and Impalrment At 1 January 2025 Depreaation charged in the year Eliminated in fespecl of disposal 23.579 20,631 {7.6801 23.579 21,080 17.6801 449 At 31 December 2025 36.530 449 36,979 Carrylng amount At 31 December 2025 150.OC#) 88.361 8.937 247.298 At 31 December 2024 150.0 94.377 244,377 THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 12 Inv•stm•nt proparty 2025 Falr valuè At 1 January 2025 Disposals 1.259.000 1725,0001 At 31 December 202S S34,000 Investment propety comprises Ihree shared ownership industrial estste units. The fair value of the investment property h8s been arrived al on the basis of a valua￿.On carried out at probale on an open market value ba81S by relerence tts markel eviden¢& of transaction pn¢es loi similar propert￿$. 13 D•btor• 202S 2024 Amounts lalllng du• wlthln on• year: Other debtors Prepaymènts and a¢wet1 In￿Me 10,000 3,317 2,835 2,83S 13,317 14 Cr•dltorn.' amount8 lalllng du• wlthln on• yèar 202S 2024 Trade creditors Accruals and delerrea in¢ome 302 3,600 954 3,272 4,102 4,226 15 Unr•$trSct¢d fund$ The unrestricted funds ol the charrty comprise the unexpended balances of donatwjns and grants which are not subject to specific conditions by donors. At 1 January 2025 Incomlng re8our¢e8 Resources expended At31 De¢ember 2025 General fvnds 1.573.953 53.445 1229.7341 1.397.664 Prevlous year: At 1 January 2024 Incomlng resources Resources expended At31 December 2024 General tunds 196.131 1,420,527 142,7051 1,573,953 12_ THE AMERSHAM FAIR ORGAN MUSEUM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 16 R•latod party transaetlons There were no disdosable related paty transactions during the year12024- none).