NATIONAL_ - MOTOR MUSEUM_ Thè Natlonal Motor Mu60um Trutst Umltèd Trustees, report and financial statements for the year ended 31 December 2024 Cump4rty flryblrallvrt 14u. tYJJIW70 (CnKl4il and WalRsI Charily Ilo_ 1107656
The tr4atlonal Motor bAuseum Trust LSmSted {3 company Ilrnhpd by EuaTÈntÈÈ) ntn¢s Pale teEal and Bdmlll15tratiwt hThlormatM)n TwslQ45' report 4udltws' vewrt CDn5011d6ied s16teThÈnt ol adlvllos 34 ¥oIVgit¢ b31gnie she 35 Charwty baPart¢è 36 Con501id3tod 51atempnt of cash IID¥ Nole5 the fvngnclpl slateffl4nt5
The NBtlonBI P4otor Mv5evrn Tr1 lirnlt@d ta coffianY Ilrhitéd byÈIiaT1t) Lp841 adfDlni¥Trilvg InforThatiort thÈ éthdèd 31 Détèmbe¥ 2014 TNJ5t5 Boadle lee 8(ynThel Tom C311ow Helefi Evortde &)ss Kelra Hart Jonathin H¥tt Robert Mx6rryor- Ch¥lim4 arglinp Marrus Nlck MasoTh Colin Md(evltlé Loid of Beaulleu. Presldent on. fvlary Montagu.5toti Loid Sii•ih¢ifron floben Taylor ATrdrEW tomp•w S¢¢r¢t?ry 0¢4n D4nl¢15 mPfiNV number 053160 Ch&rlt¥ mEIss4on re¥5tratlon nyrnbE 1107656 Awl>trEd 0lllL Julvii MuiiE4¥u Bulklli Hamp5hlre S042 7ZN r Jonilhan MuNle Autalwr5 3IHerv LLP Idl•n4 Hpv y1 Koad Bouirtemouih BH2 SOY Biel ple 41h Wock A APEX Plaza FOrWx4ry RO4d R¢•4lnÉ Rf.I IAX SpllcltorE 150n Si lohns Sire sali.bury WiltShir p¥èi
ThE Natlonal Mtstor Tftsst LIMirea (• ¢omvny Iirniieo tyyg¥?r¥Dtee)
Tfy5tqQs RppDri lor ¢ho year Èrtdtd 31 DL1bèI ZOZ4
STATE•AENT Fftom (HAlItMAN OFTRUSfEE5
PQR THe YeR EtrIDED 31 DECEMBER 2024
2024 Was art èwardiwiftniry ye• loy the Pl&tlonvdl Motor TrAuseum.
Slrstly, the newly iounched Ilotlonal Ivlijtoi Mu5euffl PublishiTrg enjuwed
8Toal succoss wlih Its flr5t Goldié." 7hÈ stY ol Allied
Sold 6or6entr. by John MYbe•d, WOVA gyes11g% gwgry15 11 Ihe RAC
MoiorfSoE Bool of Ibe Year, anl from the Gulkl of MDtDrin& Ivrfters.
Book odUctIon has not been a550Clated with Bclul icii $inÈc tbrlv
19805. so this mè¥k¢d a vtty Iriumplwnl ieluin to publk5hlng.
Socondly, we were delvghtod to ihe Museums & o)Ilectkn)D of
Ibt Ye¥1 •wgrql •1 ihe Roy31 kni0bIt0C1ub H isiotic f¥lDtoring AwaTd5.
Th&5 celebrated our Terbewed fDCUS on lh2 Socithl and tullurol hiSlf)ry C&1
Ihe motor vehirlc, bo(ktd utr by rtw E>i4thliiig, whh togéther
rostntcd (wr new 8nd Ipproach tD Ihe wafld. Oktr I0t¥PE
Irlol of 11(rd OJ Th058, where vi51tor5 oxpkJo ahd ltttriè
with 3 5efles ol modern classlc cars had a &pocl41 mentlw, ¥loD8 wlrh
ttye Sttreel$ Ilhe4, the Aew &xhlbkion whkh plai@{ vh1[1
Iroth Ihe 1950s to 19711s In a streel wlth shops tti5playinE rElerIt 41èrnS
Irom our colle.cllDThS. MinttFul OÈ the Tr05talgiJ and Ilvihg memory Valu ol tlfvtr Museum's velilrle5 we have
ctiuely bmughi ihe moloring 5IDry torw4td. Thi$ Serv lo et)suie on8oln$ levaTh(e wlth our audience5. and
hopc t(h), lo ollr•cl tIKJ5e who have nol vlsiied belore.
Olhey •tIe hlEh14thls In 2011 Ip
The National Motor Museum Trust Limited (a company limited byguarantee) Trustees Report for the year ended 31 December 2024 Alongside all this activity, in the Museum's vehicle workshops, 2024 saw our engineers make good progress with the workto restore the mighty 1927 1,OOOhpSunbeam World Land Speed Record Breakerto running order. With the stripped-back chassis on public view and regular updates shared on social media, this has reinforced our outward looking approach to maximise engagement and helped secure some of theall-important donations that make this project possible. Finally, I should like to acknowledge the support and dedication of the board of trustees, our staff, and volunteers. They, togetherwith ourpartners and our funders, make the National Motor Museum the successful and vibrant organisation it is. Robert MacGregor Chairman Pa8e 3
The Npyon31 Mffjor Musourn Trust Llmitod13 company limited byEu3rantee) Trustee& Report for the year ended 31 December 2024 Zozd Rf¥SÈ pl All[leI AEhlEYENPthts •d Th• Natlonal Iblotor Mu5•uth Tu&t INMMT) IÈ * tharlièbltr 081&110 dedhtted io PfeseNStt1 Cthtyli mMOnI hlsiory. Our mi$$N)n Is io enao&e 4nd Inspl(e people wlTh ihe slory of mDTCbrfng IhTou&h our World (Liss cpllcctlons. All co11cctio afE Dcsisnated by Arts Cjjuntil EwlJtsd J> boltt$ ¢f national and lnlewnatIl 518nllFtartt. OuTw0fld,lirrsVehI¢s •rt tsyl)Ii¢ sssilllv lfi th¢ MUStuiii, whhlst tht ¢ollrciioiTr5 ¢¢nlr¢ bold> l cornucopl& of rnCFtorlnE oble(ts, archhe nA Arrp%£lhlp In All hy Ap[ltrnPt Iitllkpd fnr p¥hihliilln, vn8x8pmpTht. And lfrxtninR ptogtamme5, £iigo9ii?g qiid inspiring people with the story of motoring through world-closs collecrions p¥e4
The N3tTrDnal Motor Museum Trust Llmlted (a 14)mpany Ilmlted byguaranteel
Tru5fee5 Report for the ye3r ended 31 December 2024
1024 $•w Iht N•¢rfKuI m¢1 Mtss¢um i¢i¢hlni out from lis Hampshlre
base. to build on It5 (ountry-wlde profile. Throughoul the VEar we
h05tpd and altEnded thaklTY ntw tohrtttllons
sknv5iTrB ille yehlGlos ovlsidt ib¢ w•115 of iht t41¥s¢ym,
Ib4ty#ai¢
Inlornailonally we Il•lse(I wlih rr)IleoKues Kross ihe woild
iiqndO conferon(es and etIngS. havo a prosgnce th
Secrelarlal of the World Forum lor Molor Mu5eurn5 and are oftL of fivl
ol the Nallonal Motor Mustllms A
The Nat[91 Molor TTpJs1 Llmlted ¢0 wnipany Ilmlted by¥uatonte¢l
Ttusle•s Report the ar trKltd 31 Dettmbèr 2024
Natlonèl IAoLoT IAv5tum en& a ID-standI felatlonshlp wtth the Beau11 vlsltor atlrnctlDn,
f whkh the Museum 15 8 ult11 p&rl, Enhan
The ryaiion?I rlqowr Tryl5t Limired l? cornp3ny lirnltèd byEUa r3nteel trustees Report for the year ended 31 December 2024 tJwel•pm¢ni sraISI The expan51Dn of our actlvltles and 31153t10n of our nbItIon 11 FEmèin dÈrtdtrtt tstl 5VttÈsslvl luhdwèisliie, Ih 2024 s4gniflcant chae5 were ffl&de In staffln£ and leadershlg. to 5tiengthen the DeVel[yellt Te6tn. Build1£ rel8llon5hipS wlth polnllal mafroi dotto¢s Is • ltsts¢.leirh proce$$. the I •¢dyliCbn of a PhIl31hroW ip ihe Tpgm In M31ch 21)24, Increased our Gipaclly to generate new fundra15in6 irlitiètivesand ou8mrntcd bur trrtS¢ncc at nOtèrih¢tvti$ 01 Bfjivlleu •Trd throughout th¢ Uk, ln July 2024. a SUC511 coll3bDrailon bmu8hi about ihe In47U8Uf31 Btwdille & Beau11U M3stors ol MotO¥lTr8 event and prestl8lous dlnner ot BowcIEffe Hall fjeai Lee¢ls, Iippvn47fi1 ¢ars f rom the ¢ollwiion were featsred. 35 thE Mu5eurn demonstrated ils convKtion e3thblvshed VIP mAfqUP.es at slx motofilig events at Beaulleu. hosted s[&1 r3llres and youps of vÉsltln8 hl8h nel worth DtDrin8 vlthvlia>t# artd delivÉred Ittd hosted • well- rccep4cd lThbugur¥l fvnQr4lslng Jintr (bn The eve ol ihe J920 to R whlan V2lèr3n Car Run on 2 NovernbEr. Thesè 350ho 5wibtttm JXa cliviliE5 havE e5tablv5hÈd a TDbu5t pip11 of Otsstt¢S. èod Nopirr GordpD 8¢•ThFI{ #J¢iwftO. the Ilr5t m•h)i don4th)GL5 Iw¢ S¢re. GIDni fuTlS1 S471npd fftpmcn14Th durlns 2024, cnablln8 the I1 phase ol Out ladital tran5foatIo of the Mv5eum exhlbtlion Spa,5[5 display and jttlityTl&tl¢¥l', Tnt A8tS J Moltyir hl4idon41 Loti¢ry Hcrilasc Fund ts4rfleld We,£t•n FouThdgtlon Dcmsjwoiknn IAu5wumÈ & Gali•AR Ithp¢v4vbbèrtt Fuhd Wolfson Mcmltwi Wegton Fund W vqry ihankknl tsr tht5 &upport. which dirtrtly t4knt56ut&s to èlihsrKifi# the vlsk¢kr wilh enuiing leVIll1 ¢Ortieiii. An Insplring and Innovaihe otfer wlll help u5 allia 3 mDrp a4kdion¥¢, Includlns thcwd¢ WI do nol currently Vidlt. A tcn yvpr FundTat:Ins Siratcsv and aciampanyins PlaTr wa: rollficd by TwuSttL% lrt early 1024, TheÉe woiklne dDGufftEnl5 definE th Nalitiwlal Molol MvS¢vth Tfv$l is r¢wÉttup. pro1t. ?nd (4Qli7Jl fVE ¥vllh 47 E20rTr t•rw lin (12m ¢Thd(AVTnent. IOrPOlInE tPbE fDllowl slriThris' ajui danors. JrJfit appl3ilons lintrls. InlinlIn& arul piihllr hnrllp£l, + L¢WiS. MQl)ioiioI Moiofs - • xh¢4¢ for 4loiiii¢d Trrthld¢> IN¢fided for ary¢JJlonlnE lThto the CDIIEctlon, llre EallrtlnThrl wéih fiill rmkIAn rlnnnr£ A Thrl prnrppd4 hpnptit ih• Nxilrhhxl TrAhltsr IAii%4ihl. 15u&iness P•rihershiP •nd wiporaieswrtsoishl Mthiibtialiio &ch¢i)1¢s (FrioJ$,l 0¥¢j iooi, p4e7
Tho Nailonal Motoi Museum Trusi Llmlied (a comp¥ry Ilmlted bygwroniee) 5uppoTtrs N4ltw)tsAI Motoi Mv$turM lrttrt.è$ Its prollle 8t motorln8 e¥erts and thks has exerted a posltlv lrnp&£i on ourmember5hlp piomDtlon and rectultfflent, contiibutln£ lo lundt3i51ng IDtorne_ ThE nurn bEr of mombErs In OUT Fntnds. rem•ined si•ble kn 2024, wllh S?0 •Cilv¢ p4ylThg m¢mbtvs aThd 283 Ilfe vnembews. Six 5iicie55ful Tran5POrt Torque5 were eniDyed bV Memb¢ èthl PvNlc th¥ou4hotJl 2024, $tartiDÉ In January wlth 4 present3tlon on ihe l(Ythp Sunbpam ie51orailDn bw Ihe Museum's Wort5hDP Tearn. Other high1WItS Ihcludtd art Nin8 Wllh Meih8 d¢ivei ¥nd former pre¥ni¢r TSFt Ne¢4¢114who TaS by TV pre5ETrter and YouTubEr Petrol Ped. and the publi( prEmiére ol t 111m Mary Moithrrycle tofftthtrthtsratitte lift of Mary Siev4er, the flr516rlil5h wcjmon Io fKle 5ok) •round the world on a BSA Bantarn ImxoV[Ie adwernture tfOlr Yrffvny CÉKJte5 ljt ihE ary hSatarwk- IAyil 2024J. ThE lrtlornièl ahd 'hl Pltttttr etl-ioÈtlhu6 for Frl¢Thd5' ¢onllny¢J throU8hoyt 2034 al v•rlous l£xatlons and Ik)sttirtes across the New Forest, r Bv3ullqu Ono Huhdrtd th+rrtbèYshEP al? maiDtd sitsle in kOL4 •1 thembe(s. M• ¢Dlgycd ihelr annual Summcr Evcnlns ai Palarc House in June, h05ted by Lord afid Lady Montwj, tle dlnfier hpld It ihp Alhtrimnhklp f Iiih In Lon(lon was hugely 5uice551ul. Awar(15 were $lv¢n tts Zander Mlllt f4)r the ¥¢118 blor)èer of th• Ye¥rf IQ LliS£holm loi Ihe PèrsonAllty ot the Yeor. ijllpri rnPpTrJ at tpAr h¢11 IP¢ RwiAlrhmob1l cmb The Natio1 Klotor Museum's IAarketlnR and ComffluThlcatlons Plan is Inforffted auqlpEnce Te5EaTih ¥rid WEJrla Iri IiiLErei11 wllli Llidl vf Ili¥ BEdullvu ¥lJitvi dltl aLIliA knTIt li LQil Iblrtd tff4h15 focusstd oli attr1 and •n8aBknB a ol rrtotOr•rl8 wud1èt$. l*thikè4. afid 4lislt0 to ilie New Pa8e 8
Th¢ MotQT TNst Umlt¢d (a wnipany Ilm5ted by¥uaranteel
Trustees Report for the year thded 31 DèctmbÈt 21J24
ol &tartd-dtst IctikrilL'S fot 2014 was thtr IhttDdurion Df
new brand ideniliyfor the Noilonol Molor Thebold
contofflporary kn80 reliecls tho Museum's hetita8o and
tyl¢leli SIOIyi WSiliQilihÈ Iht wotr15 Ih41 rykt up our lille al
d11 stag¢s of a ro4d IpurTh¢y. The l?r of lh¢ maln logo
t5 shared wfrth Lhat of Ihe Beaulieu brand. rellectI the dose
litlon5hlp l)ttwrtTrtn th¢ t C•l8ènlsétlonS. The biahd wès
Implment@d on-slté sThd onllne from >ptembe¥ and
leatured in a refresh ot Ihe Natlonal Moior Museum-s webslie,
develtspe4141ut Ill£ 2Q24 and18ubetd 17 FebNary 202).
NltIOp4AL _
-IblOTOR _
MUSEIJM_
Our ryew vl#igV, value woposlllon ahd posrtionine framew htradvced 8uldelintt loy iht
U5eum's tofie ot volce and vdual Il¢ntlty, Th¢ br•n•y Krsoth4lllV ¢¢kiirt$ on i¢lllM th story of
Dtètin¥ and ha5 the folknwln& kev 5trand5=
1rn38inAtl¥@: IDok for new ond powerfyl slorle$ ¥44ys lo tell th$tOrIeS_
IntyatIVe. W¢ ¢mlw4¢¢ lh¢ o¢w. W¢ •¥¢ J>l(sOttYI tlit 5#ir5t trtotorlhg&iJ
tpui Inu5eqim.
In5plrlThB: W¢ our 51orl¢s wllh lfi a p0511fve way-
The Natk)nal Motor Museurn Trust Lirnlted (a cofflpany limlted byguatantee) Trustee5 Report for the year ended al Deteffiber 2024 FJrd Hèilta8& YOuTLJba channèl ¥lew5 were 658.$81 In 2024. a docFea5E 0122% on 2023. Llfeiiine ylevrth ty t1 cl(tsr of 2024 •m•sscd 10 O,152.,14F, Esiotyli5hed back iii IOJD,11 Is PDsslble thal muih Df I he most popular hk¢orl¢ wnteTht ha$ 411¢4dy been PQ51ed, ¥illh mDr¢ recrnt maleritbl gcneraline le55 interest. The Nation8 l Molor Museum eslabllshed a Thew TwlttewA thallnel durlng 2023, whkkn 8ètiÈatttJ 616lolkn¥ts lbm whi(h to build. Thi inciE3sed to 989 tolltswert In 2024, gyowih of61%. The NthiioAéI Motot +l¥ÈbSliÈ had 244,765 du rinÈ 2024, tè 187,812 the FWÈvk)LtS yOAf. Whith 30% I0$@. 7 Oevtlopfflent The consldered develLipmeni ol our Des¥n3ted collect5 continued dufing 2024. prloritislng the emereini, sioryhnts foi Yeinierpreiin6 ihe Museum dtsplly. Thet wert Seven ynt¢OuS molor¢ycW¢hl¢l¢ donai•of4S vihich av¢ pid¥iied h¢r¢: d Illilllli 1953 8AA. &rfJrliArir DI !!r fjPQ 11rry1 l yg3 Tiiyjiiyli Dvy14 5vpii 3.. Tlir fl)IIy4 ffvrll Yk14T1 wi J5 QLlv(w lQ24, dl&nblirtJ Iheff beAMed 1926 Auslln 2 brellO tiwk whlch they loanfd io the Jy24 55(( OEC BkKlbiimt, JgEI Jll( toltorfj. Plprkwne IPJP 435ts {nfJrW ftoo¢tsiei thjdel i*1 ¢elO
The Natlonal Molor Museurn Trust Umlttd fa company Ilmltcd by8Uataiitee) Tru%kÈè% RÈNift far thÈ ÈrtdÈd 31 Dètsftbhèr 2014 Ama[hthiUh[lehIS01ihE 330 argui51ilDn5 lo ihÈ Obiect Collortion wa5 Iht M Patrolrrtan'&tuMDlctÈ unlf4Jrm 5¢1, olong wtth phptogr4ph5 4nd ephern¢f• of ihp who'd worn li, Cfeoilng a w(mdtrfyl Tetord of hi& car@T. Al40 donated, was a coJlectk)n of 29 or¥ln31 artvK>Tks by Jarnes D Looch, A nd a now arbKork ol thc 1927 ILv.p sunbeam. speciallv created fof thc Mu5cqpm by R4(Ih.rd NcerRa4rd, Noiobk donaibfi5 10 the Refert¢t Llbf4)rfv If¢luded a lai8t ¢oll¢ciiott of Trwp¢r CooihbullJ¢r< New51elters, the latest and award-wlnnlng publlcatlons klndly provlded by The Gua1 of MotOTI Wrlie15 8nd NichaEI Sed¥wk Metnoilfal TIu5t. We also rÈtÈlvÈd a slf1(at lIKp)IlÈd.itkn pvblJcatk)n Ifcbm the SunlJe•m T3llN)i AlpIe keEhier. lJor44ty0Th5 lJu14114044 ACQuk%itloos to show total (trllertknn O(4wilinSlQr?9YI, 24? J30 RelerenGe IObrBry 2,557 14 2,571 phDt(yT3lc Fllrn % Vldr 42> 4>J 1345 105 J54 Di8rt14nd LI011#11 Tht Nalitin•l M tsstvm's Dl¥lt•l Slr•te8y was upd•ted lft June 2014 lo ltler renect current ¥irik&t kpiidl wl4JrlllEJ ¥riLI ybJeLIIYy>, Th lour ar3s by lh4 D¥ltal SirAt48y 01nunthan8. LO1tIonS Manwménl DIB vtal En8mt Iwdb ahd h1 IErtIl Lommorce Dl8iEal Colleiilon: ManD8cment made=loVr byt sustaIed Pros. rcscatth and duMenttIDn OF iolkpttiQThs durlng 2024. as Cufalort 01ioriti5cd oxhibitltip fjèvtlOshb)Èht. WvYtflhe$$. ¥ve ¢ohtitlve to hlstork tyockJo&5 •n¢ kttp p•r¢ f¢rdIn8 new 9Ul51t1p. ITh 21)24 we &ddp fijrthpr 1141R tn niir rlxtAhAv, rrpxtinE x tn17dl tn rtAtp hf 1n7 44A, Thp D0[uetatn Work fjTOUP ma(ILD more extenslve use of fAL.M wIltIOnS ThJn41gcrnenl 5V51em I¢M51 to (n%etvatlon aftd iondlllon of lltIon It9$, ioliptlfjA |nformAtlon fr4)Tri olh leR3CV svsten to help CèTrtr311so 3nd sl3ild3roe. I hs useluilv helps central@ collèttloThs Informatlon hEnd ol • WDitrt Jth2duled tsr 2026 to mrtte dota Irom GAiM to 8tt blierTbbtle GMS, Out wtseessej vel•tln¢ to lfilelkThetu•l Pioptrty Riebts were InipriAd wllh a Al£hts f•Aanernefft1 Pollcv IOT UiLldiKY 4 lid d Riglilj Lv¥ lu >i&iiddi 411xkn ireLUI 4111¥ se ot cDlJecibofts IOT eKhlblTlon and ihe DlghTal CoThrncrce arnbitbon to litc(2 National Mglor Muxwtn 15tt$ lor ¢lctivt ¢tybhlÈT¢lklSlltstt. 4rtlsr Ncrrqa¢Frty prrsrThrtng rnt Itvlyrtng Dr JPj7JIhpsub40rtl Qif4<tOff of CoJY*ctSLVpsATrdT4a 8pshop. 11
Trustees Report lar the year ended 31 Dectmber 2024 In paiallel wllli Ilie Natlortal Mtst MIL&euM's list, tsl soeill thtdla lo&ldtorfimvnitslti<Jn& èrtd érketlng. fdn EleiltoniE CL¥nmUnKailon¥ and Soc101 Medlo Pollw w45 prodyt2d 19 svhl¢ 510ff durlng 2024. ThE malor focu5 lor 2024. howe¥er. Whs DI11 Engagement In lh¢ forni of a new Nitbnal ftholor MuSouJn wèb511c. Wrth a ED liwe dale ol Early 2025. mosl of the work w35 completed durlng ?021, Ilwed to reflKI the DAvseum's latesl brand Identllyi wlth new Imo8oryind providin8 a moro elfecllvo p1Jif4Jrm io share iho slory pf rnotoTln8. (kIng fo41T JOJS, Ilpiipfjgl Kqoior web5ile will Dff er eCOmThrre fUnCtnalitY for the lirsl IlTr, enzbling onlkne donatlon5, rnembersh Wr(h¢S afid ¥1 btsoklw5. Onslte d4ltal 0xper1en% wefe onhanced with the extended use 0¢ the 5npoTtrly fflDbAe app In t rw Stieets 8allerv, We coniinued 10 Use ihe pkttsrepoth 4py to assbt our visitort with atFdlllon31 Treed5 In preparing for thelrvtsll to Beaulleu, Ccnserwatlon and Rtrtoritlon Thè of all Ourtbllè(liOrt5 is tsrtdertaken by & prOfelOal tE.am. Ily su pwrted by loyil ahd knowl2d&eable volunteer5. Conservatlon both and IntErvorbtlv. prE5orvatiD reSlG)raiN)n are 1 elerrtenis (rf wr (lIe¢l4)m re and mafiJ&emEnt. SUblDIAbl IVDOHP Q&SToAll Cbbl HIAR THI IN¢INIS OAR AGAIN The MuEurA'$ 1927 ICQOhp sunbeam. bloke ihe Wrfjiid Lad Spvéd RottSrd at [koytoth béach. Fknrfda 9 ye41. lIh trlenry Segrove &1 thE whcEI, it athlcvcd ovEr 2}mph. Our ambltloy: to Ttstoie th15 ittsn to OTder wè5 launched wtih a fvndrai5inE appeal in 2023. aiming to w¢ivYn ihc cli io ts•yion• for o (¢iit¢n4ry tsi)dor Shd. Followlng The sirlpplng d¢Min of ihe thos$15 In ?.023, Ihe pf<bleci sathEFcd pa(c thiDu8h 2024. foru:=cd cornponcnt in:pccrlon. Er•rb (luKh w5¢mtyty, 54I5p¢nJlon, si¢trkD8 tyr4ik¢5, Tb¢ whppk wprp rp11 trh xrnrnrnrr Thpw tyrx x4 thp 417•14 no lon8er ayallable. Fiadlators were sent io be rebullL In b1&. Vb c14pJth5knftJltt In Novemberwe atterKled the Cknjslc Motor Show Dt thv NFC.. rnptrtln8 wrfh Anihnny UAmilinn. +Hhpr
vwrn.IlI1 fuTriivkn ODr TT5. 51r Lrw15 Hamlltoi4 tp lbrat• ihq slunnln8 pirllal 111s1OI*llOIl of Our IY54 i1mph i KL undertaken knihoTrVs hl8hly:ItMl¢d 1¢4DI at ihc iio 6Dro84. Idwm fEI) Jon ArtJKpny th Iirz Ilje JJO Gor team ot the Pyl2
rht Natlonal Motor Mu5¢uffl Trst Ilmlted la Gompany Il¥nlte41 byguarantecl TtuSté•& Rèport fat tht ar tndtd 31 DÈtÈmbér 2024 Thè tsr had EJMpN bt4utathtd lrylAt D A Sirncsand ih45wèrk W05 lund¢d by o leoaEy from tlr farnkly ol fvlr John +w¢¢ks, V0hb[E InIrIc5 3150 TQ9ulro care and attontlon and In O(lobEr, HafiQ5 & Lr[ Tim k¢ndly rc(ovcred Ihe Mu5euYrt'5 IgSO AEC RT bu5 5¢alS fr¢¢ of lfi ptylod mDquetle. Yay Rr.ftimnlrd Srql& rf fhr 1950AIC RTb¥& dert£7kép7 ty Plohls & Trlm. 10 Vehldes the Mtnre CDrThrnittEd to ownlng Ihe ttnn lJliDnaf and laking the Museurn to meet pEopf4 2024 w35 aTrIht b¢it¥¢ Vtèrlgw vthidtrs, wilh siatit ind opearèn¢t& èt ¢cStikièu t¥trll$. Ill our 1961 Allard Dr4g%l¢r m4d¢ 4 51htk 4PP¢47r•K¢ il th¢ S•nt• R•c¢w•y for 11> Drag51al8LI t1, LatÈrth3t rnonth th@ 1%7 Lotils 49 and 1920 3SOhp Sunbp3m wÈr8 Sucr8fu1ty demonstTBI@d. whil tho I5 Rolls-Royce 51fver Ghosi w9s ihe C4rtEer StyFe et Luxe. at the Gts>Éhvththd Fe5tlYal o15d in JU_ ltt Au8u5k tlbe 1961 Ilohd RC162 molEV[le wa5 exhlbllet5 a sI1vETItot 8wiliih Gwartd Prix Weeke 9£ p¥n ol Ihe olfi¢lg1 MotoGP ?S dplay, Thc 1920 350hp 5unbearrt retvrnod t In •cM¢rnb¢r for th¢ Itpvlvxl Inrf th fnhpr thp rxr 4¥a5 Ilred up the Be51eT scr8mblo- Ip November we holded Ihree cars lfi the Ltmdon its I05 DlthlEt, 1gDa De Dletrlth and De Dluri Buuluii. Is T1 IJOP Lvlwj 49 uiid 1920 SJOhp SuilLyuf ULlknI ul Djsperd. AlIpPtr Broybrotth pJcttsrd In Ily haScU.5 A503 Dplrnfer a[ Ibr Stort ol rA In FrDm 2023 Into 2024. rhè 1910 BusAtIl Typo IS wa5 loana to th Llugolli ITiI%I il Vt¢SCiXI. Ill M•y rt wos Joined by ibe MuScui*'S IyA4 Typ¢ as B¥8aiil fpf ihclr ¢xhlbltlon c¢lobrailrwA 100 yea olth¢ GranJ Prlx 8ugatti13 knKust 1924). Thv IJIO Trpv IJ (Md 1924 Tr JS Prr%cutt. augttl Tru,%t. Pa8• 13
ThE N•t101 Mtjtor Tryst Llrnlted (a cofflpany Ilwnlt¢d by¥vJaiant¢¢)
Trustees Report for the year Endtd 31 Deteftbbtt 2024
I l ɥhllbltloThy
2024 saw mor¢ ¢Khlbltbtt i•kiW plxe •1 ¢iit N•lltriil MOI¢rf M4ise¥OI Ih•r ¢er btloyé,
as tilalled Bn 0d00r InteraCte exhlbltlon, Prluced Ivlo teThporary exhlEMt10Tr5, a perrnèn¢fftl
Ilrry rtlll afid startÈd a strat@8K pro1E to tTall51orm the dlsplay and IntgfFrtètion - AgE5 01
A Pilcrt Lve orte ol Yhtse dl&plJy Outild ihè
Museum during ihe 31bowe¢l vislf4)rs io
eJpEtltnre 5itlin& In [3r5 ITOM the 19G05
¢h1¢p#h 10 Iht 19%$. Rt#M)hlifiÈ 10 vditTr¢t
reserdrcty the concept wa5 Inter7Cle, 5¢tk5Qry,
1ntpv£n0r3t1OnAj. and n05tal8k, 3llDwing an
IDtnDI connoctlon wrth iho cars. From this
SU15$fVlIrlI1. a Iyllv deVel9pe verslon. uDder I
cover. Is planned lor 2025,
Yhe In Pocus tempo&r¥ exhSbtttotu for 2ts24
ere CAJsei fo lh8 Edge.. fteclslon Pkniogroplry
ty Guest IITtsrrt Ftbrtjaryl artd BuMOuIl
fthla Jlnnrtrerwry 8rlltsh inrernrIQnl WÉ I7or¥ ol Th05t'cor5 Jined tsp Dulsldt Ihe
R4ciry Festivol {frum SoFternbErl. Clas2r to the ¥rsrirJrs ttp irJs,
Edè
fÈtuÈd
dEEoil
photograph5 of ob}¢cts r¢laled to persoThTrl
nduranco. end@avour. and athJenlur@, along
wllh oilwnal aTihlvE materlal. BIJnKtI wa5
bJpporl•d NLHF, 11 WWF 4
Tho NètloThal Motot MUSéUth LlthAtÈd (a tOthpaV lithltÈd bYsuaèlltee) Tru5teè5 RpSbDrt for the year eEbded 31 Decefftbef 2024 ljll collecllons. Tbere ts a loy slhop wlth Ireasuied playthin55 a dtsthin&shDp wilh outetwear Ji)d ¢te$ileS 4nd a travel 18ent ftsr abroad as well &s UK i rip£ and ÉLJecuTslons. Trlalll new car dBplay rnelhods ald enllvEnlng thE area wllh riirh. (pLlI wi$iior$ 114 8iweo 51tetrs AWIY è definitethurnbs up. SU¢¥5 show¢dth4l>atisf4ctEon IovE15wrrr hyh. with 98% Eithrr likin8or lovlng li. A IytMr41 vlsltor comment W05". "Fle4lly enjoyed seeliva vehlcles cb£o up. th authontll Elroot Fi1rn5 really enhance thc experience.- iornG Ree5 fn?m Gobb1rde9 a5 v 'illpple'. Iwlh 19gIAIC 6rBnr supp)fE lh¢ PIIHF Oih¢rs (sp¢ se,Mlon 4, F¥tt¢lv91$iAÉ •YO rJ¢¥ek)PrY4Vdll ¢vne4 Ihe dDor tD thE Mu5eurn'5 futurE, by eThabllry the slart of Dur transformaticnal wurk on dkplay And Inie¢ktttèliOts wliltli thè èlmotsrlng OfbJe(t and the è$50(iatcd en8a8eThent attieS fo pEopIE of oll p8¢% Th Pr¢nt5 lh¢ Ilrsl ?1•8¢ of 4n m•st¢rpl•n tnllll¢d MotorlTr¢ Into FufurÈ. tTr0pmnt wlll continuo throughout 2025 and the flrst reln¥lgor3ted 83llÈrl@s wlll revealed In carly 1026, S(l$lnE tho pro8ress and soclal history of motOT(¥cIos Irom th o3rllqsi ilm45, 4n(I h1 ihls h45 Inf oyi I15 an¢ s1¥. n¢rou5 5iipwr¢ from NLtrIF for our 4g¢s ol Molorlng prokct b45 frim¢d Ill L¢oml¥h8 KtlvltbE& in ?(b?A wlth thp IAriK4lThz nn prpGkirln8 8rrAinAwnrk fnr thp mAlTh Ap1hry In ?Th?4 Alnwldp th1% thp tpxrn hAvp hprnrnp x dpllvpry Pla rtrr hr thp lTh£tltiilp Fn8lnppATh8 Te(hllDltwr IIE71 Fa¥aday ChallenEe. 5VPPOrted Ihe fjoveTnmerit led 5k1115 tor Life MutTlply piDled. OPPDrtiinitle5 tioth on- 3nq10ts-slle. The Mu5eum'5 trprnlThs T¢•RI b¢14 r,rbmWifinn rlAy4 At Apaiilkryii knr thp nAElnnxl FaiadJv ChJllEnfjC fof Sldary 5choDI STEIAIKI Fvg¢ts_ In lol•l, 3> £(Iipo4 frorn atross Hamp5hlre were enR3Red and Ljll Jtvdtiils ltstsk pthrt, Thp Iparn frnm Ékllls Inr Imp rlpllv•rpA trHir y% vf M ulllpty icllvlllr5 fvr oTnlllt5 fro lowJncomH hous4holds. wlth our Loarnl loarn prDdInA tour5 01 Mu5oum. Upto 360 tsPIC lllttnded MultiptytVEntJ. WThrk vxpptipnr• plarvrnnl% h1rd fvr $1 ¥lytl¥'iit> fiiim Mvunlbill¢n SEhwl ITI Byrn)Yyqlyrlng Mii¢h. Slvdcn15 ¥yorknd wkththq LArnln8 and Llbrary Tams on Ilv• proiqcts And contrlbut•d outputs tothq Str1 (P slJdéMs Jt tlie Ahttrd ylltry In iho form ol ree0rdK mtriloliS ol wrn¢ys. P48e IS
Tht Nè¢FoThal Moior Mu5oum Tyust LlmltÈd (è cottbpa IIMltÈd bvgllataléèI
Tlu&lÈè$ RÈtytsit for the year èttded 31 December 2024
Famlly engAgwent In the Museum W(Wided Ihl@tJdlve rxDerltnrÈ.i f¢Jr ptoplè of all 4eS
dull5 2024, In£luditFs a dgy of Toy C(K Drag T¢l4tinS lo ilr atrrrTowI mporory
The Team con5011dated relatlonship5 wiiii the UnTrrs iiy of Southampton ForThuia Siudent TeAtYA,
8oLI TemIllI1 VfifveY%llV Pl Istoty Dep8rtM&hl and At Uthiver>lty Bautrtirncuth TnDdEI Ynakln8
iourses. Each UnlverslLyW3S tr¢¢ )¢c¢ss IQ lh¢ Mtss¢uM. Ib¢¢ol4&rt& ltlTtl
throuchDul Ihe year,
202d Saw Ihe start of the NLHF 5upporled communltv
outttath work to tak@ Ihe th5 ol ihp Agg5 DI
olorlng proled Inlo wlder ¢ommunlty. A new
Communlty Learnin8 QfflLLr pt w?s up Fn Kqiv,
lo cxparyd tho learni Team and PrlItI5 enygemeNI
wllh support WOrfklh8 ¥klth oeèg1È ale&
between 16-24. people llv1 In EsoLatbon. thi wkh
èddltioThal nÈÉds. find those liwl¥p6 WTih Demenila. The
hAemory Box Fotsnd&llon, Broclehh4trst ¢Jle8e, Ihè
Minstead TSt, trtyihe Shed. and Fluid Moylon liAwe all
bech lrttrtsductd lo Iht proje(i, Another a5PeCt ol iht
011¢4¢h tsS¢S • 1971 Cl sgriit 4tw thè
Museum CollectTr to pmmpt r¢cDlkctn? pf
t1$ ès • CttlthrttjOt tht Comthunity. iho nboniktr Chrfjtty Cor01n on Instagram. Th@ Sprlte
sympaiheilcolly restted wk(h the help of ihe coffjrnuntty and wlll be rn4kin8 JPPtiribKeS aCfOSS
HampEhir@ in 202
J971 Cl Sprv rherttytow4pk1'.
Learnlr¥ artlvlty nurnbers for 20241
l bpinE restored
4 Mvlllpty ¢¥¢nlS
1? wnrb( plArprnpnt% fiffpr
14 f aiaday Challenge day5 dellverpd
135 ctuUenl%
Th¢ N47tlon471 Motor Mus¢um TrLt5t Llmlt¢d la mpanY IlrnltÈd bygua ratttéel
Trusree$ Re#ort lor tm vear 31 DÈ¢Èthber 20Z4
14 Voluntee
Th wvts55aI Staff are 5UPPOrted by a team of loyal
vonIcr5, who ass61 &11 &5pert5 of what do,
ill(luding h15torkal research. catalogulw colle(tIDn5.
conserve tlm wkn1 on display. with
V15iIOT5 in ihe Museurn. Vtslunteers also help iepresenr
libe Naii•rtJl Mclu Mu5vJm Trust at èvEn15 such
Goodood Revl¥•l. NEC Classrf Qr Show èiid BÈovllÈb
AutoffiumblE5. Inaddltion. durbnÉ 2024, VDlunleErs pl4y¢d
èts Intt8al r(A@ InihÈ sUfl@551ul Fmlot ol WE IItMI On
OA those th¢er•c¢lwee¥hibltton.
I,J
VglunteeI5 In tht Roce k Rojvd
lh¢
By thE c105e 012024 we hats an all-tirTre hlgh number ol 80 volunt¢¢ry. who ¢ontilbuted • tot•1 of
10,544 I¢5 losuprt stèll ihé wèTk wè do,
yonIr& eorrte io a ¥è¢lety ol èaSon5. Many are rellred and tnloy the 5(Kkl I5pect5 01
shaied Interest A Thd alan8sJde athers, whilsi early tst tvtil I>Te.tacet pe1>p arc SrtkinE Work
eHpEi1e a hand-up In ihelr £ho5en taieet.
15 Co#otsrètlDh5
I518 capaclly In thw Dav•lDpm•nt Toarn durln8 2014 h35 qQftEl¢Jgr•tsty thg 11gllvn41
phuseurh's ibiliiy io dÉlop and nurturE SU5lwniblo relatnshIps. our strateR
PTIoTktlo:. th15 15 47 &¢y ¢ompgn
Th¢ Noifionol Motof Mu5oum Trust Llmlted (a compèny Ilth&tÈd byg41alèteèj
ThAiiett RtDtsrt fo thè ar èhdèd 31 December 2024
rt riihpErt1B wilh th15 [0MUnItyfor the fF15t lirne.
We a150 wDrkFd wlth prooh14ds to t¢¢1 ¢ho &toty of
Hu8h Huntgr, a s18niElcant flgur@ In thelr collecilons_
ilfiir
In July 2014 w4re ¢lelhied io ee Ihe 1892 p¥emev Oil
loan from Vestry House M usÈuTh. Walth3111Stuw. Th 0èèfing
vthlde 4 belwed to bE thè liSI Brili5h-buili lèuw-wheeled
motor car. It 15 d15played tk)se t¢J rmjr IX95 Kii¥ht, orl8lAdlFy b¢illt
a5 8 ihiee.wheElei land ffttKlllled in 1856 to four wheels1.whlth
¢l&imS Iltye Illle tsl lir5l PUTPo>e.buili throeLwheelod (3r to b
dilven ihe rD4$ &Yii•ln, C&relul qv•lifiU¢iOn w•$ vtry
ithptsrtanl in tlbD5e early Yea ot rn01orlngl
ydll,
SY2
141 Ttradi
Trad1 b<llitiÈs baiÈd- thE Musèurn's èxtensive cthlle(tibns of 5tlll and Images contbnues
togenerale Income provlde &ccess to theselasclft•tlh8 ftSCMJrtes. over1. ttodln8tthditlD115 h4)J
bee challEtTrgin& Impacling income air0&5 all 3tilvltles. Ai year end. Fllm & Vldeo Income wr65 40%
knd¥i. 4kJrwt wilh corre5wndins royaftkn and the Motoriri8 Picture LIary {MPI) had
5horttall agains1 ol Il%. The moin 18flle prtre w¥$ i clalic 1912 MG6 GT illher than a nW
dEI IDr the lirst tlme 3Trd thi5 pfDved VEry 5ucces51ul. wllh tlck¢t Inwme 4t Ul.3Q) alst budE¢I
01 £21.tK)Dforf 2024,
hlm tooi¥At Iht N81<1O•I MtsIOr &tIji11'S ¢tsllè¢llOrt ièiturÈd Sweral pu[r TV 5how5
dur1 2Q24, for fh¢ low¢ of 4iid fht ¢ron4 YE)Hf, Oiid oiie01 iliiifj.wilv
tlltiti¥itinn Ptniprtx ntin11 Ir hnih ihp Mii4piim rrf FnEllqh RiirAI l ifp IklFf
thÈ Natitsrtal Motor Mvxyrn Trvs¢ Llrnfri¢d Ila compony Ilmlttd bYgUarateeP Trus1 Reporr ior Int vear 31 tTre¢embe 1024 o Esrtsrè ¢ibvvkQfih5¢rtlXy. SKlg1ty fitsnvmlrolly su5tulnvble entlty In IitmNy GP4wpeh[Jp I luture yeJJertvtltpns.- lioutine actK>ns to translate poly inio praulte include: Suslainatsillty1551Tr¢5 tt¢YkV In(l¥dpd on lh¢ rea1 OpeY&tlOOS Mèharte¢s thÈÈtiTl8 WSth 5u%tainabiUiy &llMUp mpetlry every iwo rnonihs_ En5UTlng allgfimenl ol BEL and NMMT E n¥lfOfifh¢fiioI Stss¢oirtbllltYpoliÉl¢%. All new works or repkncements c(w$kler susfaln•blesoluthons. ExhlbS110o èÈ whÈther pO5$161e or oihefw15e re(ycled of zpprDpdate cb15W5ed of_ Memb¢r£hl# of th¢ FWCS Ytt-Vtt' to ts¥lJon offset em15515 frorn our hStorIC VEhidE u5 In October 2024. the wider Senloi Le&Oershly nyei for • presehi•ii4n ¢1 ¥ ¢iTbon Au¢lit 3n carbon Fortplprlt RÈPD rt wrnmts51one(I for the 51101 atlracllon 51t¢ ih¢ pr¢vlow5 v¢¥r, K¢v ftnoln Sdlis1 ¢¢rtwltafjt$. Plllti. 10 ¢hÈ M uleurn and Cdle(Ilon5 Centie Inclucled,, The blDma55 bo1[ Installed sotne Yea 380 teduced ower411 cfyrbw em4sloDS by Sts%. Su88E5tod igductton Dt nl8ht h@ailry to tho mInImrn roqylryO uslng sir8te8$ 1¢ PliQlill$ewwd¢hip Ovcrvil, Addllional LED5 lThsta113tlon recDmmend¢d - e5wcl•lly In the ColleciioDsCtnire. Potèni131 forsolar patiels buildlw iools- but èkn 8iouhd IB E4uallty. Dlvdw%ity A Thd Inclii%l£ Ib uttober. mea5ure5 In th Eou3IIIV Act 2OlD came Into lorc¢ 10 T1é 9.th1¢$ 119 1¢4SQD4kbie. slcps lo st¥ual h&T&SSrtlent olhir ethployeej. the NJilDnJl mOr Mujeum's -hou5e EDI Champlon worked Viith tlie. Ilum&n D+partthr4Trt IA pmdiirfft tlplivpr ITr libthl ti'éiiiiii¥ knIiLPV> tu >ldif di1 VuluiiLvj uii sexual Ii¥iwTri¢nl ¥w4r¥flV>¥, A prYirwLIllc of tlie l-Peti èiarvblnÈ on thv EqualrtyAct its•lf_ Th• att•ndllqs war• mlx4d urov Dm aiross all beaulkeu bu3Anesses_ In rfetytiOO10 hew relatlonshlp for8ed wilh Rachng Pdde ¥AII fflaik the Museunvs firyt r fOI-fp4W55¢41 ¢¥hlblly>D In 2Q25. nit tAlibiiwJii wpll >livvndaY t111 WLPI k, And rhH1lpw nf I r.ATQ figiirps rnntfjrsrt over the lagt 14
Thè Natitsnal Mutor Trus1 LI1¢¢ {• Igffjpany Ilmlted byguawantee) TIu5tee5 ReFbQYt lor the year ended 31 Dectmbe¢2014 IS Thanlrs and aiknowlèdgèTheftl The NattoThal IAolor Muswm Is extrEniety kra1¢11 10 Iht lolh)wlrf ibd Idld&1 lèr Ihèir 5UFWt dudng thE year. JI Donors Leders. JI SuppDrtP15 (TI tho 1927 Iocfihp Sunboam rgEtOTailon woJocl_ All VoluniÈers, Trvsiee$ #I Spe¢jiliSl Ath"sor5 Iheir wnsi5tent support, Allard Archlv25. knlh¢Kry Harnilion avNI the 110 Gar7y team, Irt> councll ÉTrKland Iho 6rNtriimÈnt IndÈmThlty SthÈthÈ. Bpaullll Entgiwkse4 Ltd IÈEL Boavlieu One Hundretl mem be tor suppon ihioughoui ihe ypgf, te?vebtl Fvundation. fihAm£ Auctkns lorvaluatlon 4thb¢e. Brili5h Dia8 Rat1 H15torian3. C&rawan and Motuhorrte Oub. Carollne We51(bn foi supponlni $ of Aotorln C4liDI c14551c UK. agr1 Evefji$ lid i¢r ihtirsyoporr OurStaDd al Ihè Cla551rCarShcw, AW50n'5 Auctloneers & Valu¢rs for 5upponiiig Memoiièl Moiors, D(M51Wolfson Museufft5 aTrd Gallefi25 Improvefflent Fund for erblIng wor+s ITh the Museum. Dr•[KrIls. Books EP Ar(hitett5. F4r Pos1 DeslBtrTr, kederAtlon C•t ESrlttsh HIKloN¢ V¢hlc ior Ihekr 1fj¥rrt¢V Ino I heir i¢rf st•fjo t tm (Ibjjit Cllr lD, Formlialk rtd Rie.Iw Itd. Qlif141 Weslyii FuuiHl¥llLNi Iyr >uppvrll1 Mglo¥thE. Go6blqd8ook Th4atrR_ 6uikl ol M¢Dl¢biinÉ wNie Hantr. & r)Drt Trim. Hornby Hobbies for Iheir ongolnl support. Johi) wotrllt 1116 Lld, Turner ahd ihe teani st Ek)wdilfe Hll. MarlDe Watche5, M3rtitt BYavbYwk, Mlthaei MemJfiPI T11_ NBli47nol LDtiery I lerltEIE2 fund for Jupporiln6 AGPJ pf Mo¢orlThE. Nk.k Mn%tr% artd prKp. 14MAIT Frl¥iMJ>' OT•[11>¥11Uil, AutDmDtlvGrDUP- Pertlnsul¥ HtI, Lonrltsrt. Raclng Prbdc. Akhard Neergard. kk ¢y¢51 Ph(rt(frèvliw. AiiInThhl fiiib South Coast Mar(wee5, 5ovth&mpton UnlvÉYSity lor thelr InltrhlP I Estate thlJohn WÈettS_ Pa8• 20
The NITloral Muior Museum Trust Llmltcd (a company Ilmlted by8uar3nej for th Yèa èrtdd 31 2024 Th0Uh Evenl5. vittta$e Tyre guptgles Ltd. Woltson ftir 5upponing Ages Df Mixorln& 24J Vlsltor NMbL¥s liow numbErs to IhE BeaullÈu attra(Ilon dropped 5118htly In 2024. The total ol 2OG.G8115 cornpr15ed Df 267.625 $erteial vlsitcs plu$ 3956 t¥trtt Partitlpants. asc 21
The N3tTrDll31 Motor Museum Trust Limked13 company lirnitÈd bvEua r3ntoi>
Tru51ees Report foi the ye8r 31 DecemeT ?024
Future Plans
Thp Fonvard plan 2023-202E wiih5n ihe annual Business Plan has drawn fTOln tho 5tr3toeic plan io
incorporthe ils ambiliDn inlo thc National Mator Mtssevm's btsspness Model, 11 seis gut 9Uf
¢riOlilkts, IFb i¢th$ 41 flrf4il¢j41 a¢livllV. foi lh¢ g¢rl¢4 2023-2028. Thes¢ are,
To develop AudIe
To 5lrengthen our PublK Programfftb
TD enh3Trce Dur ColbErtlon
To dwelop our Leamln6 5ervlce
To d1511¥ Ollt rcL5 of Incom
To d¢ity¢r Capltal R¢d¢w¢bpmtni Arnblllon5
Ihltt th¢ ¢ofiie¥¢, Iht tour prlortlks for 2Q25are:
L Molorlny Into the FIrtu- DÈ¥ElèpthÈvbt MaStétlart
ljrorlftg Inio the Furure'ls an ovef311 masterptall to delivervit31 lnvesiTnE In Infrastrurture, d15pIJ¥,
Interpretalion. and learnlng prDvi>iDn at ihL' NMM. Thiov8h¢AuI 2024 we sot48ht to fUrtherelle Ilie
msierfhM•N ifjetTrlifylrtÉ ¢l1u+éfa£ 311d mllèsionés 3nO prellrnlnary costs. worinB wlth
Dfe55knnal Brthltectural, proJeEt manaEEmenl artd quantity SurveylTl¢ SdPO0rt, Qlll Trtssieti
aFVrtJ¥pd our outlinÈ IAastÈ¢plart dottsthnt and tht ptryjosed phaslw of works whlch wlll foim Ihe
fOUj0119 for fundro15ths ¢ffons. To seiuie an£hoi lu[&S foi 'Moloting the Fuluie.. we
Eubrnlit&d an 4XPTaK51on of intgr45t lo tho Natlonal LOttry Hèritage Fouhdthtpti INLHFI. We ale
rztelul receivtd a PD511fWe rE5pDn5é. In IUIS we will $ubmil Our Hound l ¥ppll¢aiN)n To N LHF on
Èih Av£uJl, w¢ 011114 a d¢d51on ihc end of thc cakhndar year. Alan6sidc Lh
4r(hllectural COetS and fea51bllily wofk. this appll(atknn include5 Qutline Pfopcwls IDt kllvlly
Pldii. ew11>) Pldiid liityi'yta1mth Plèil èiid Dtv0loefjl PloTh cov¢rln8 Ib¢ i¢n v¢4
wèll ** bS l0}eel 8nd rhk rl$lr
If at Rourtd I, Ihk 'Motofin$ inlo the Fultsre. NLHF 8r4nl wlll be condlllon¥l r•liln8
Tnalrhid f up.dirtB a. 'tlrvtlOt>Mtfyi ph4se' Ilir()Uth 202612 7 in prep3iallon lor a tu li¥
up 114wn¢ 2 ippllcrfdon flThJl NLiif 'perrnlsJlDn to Jtart, on the caplthl workj ond ntkr4it¥ plètt,
Thprplnrp. thp n,brnnl TPAM wlll Addhltsrtal tiye.lly tts rp. Ihese rnaldd fvnd5. The
team wlll 5ubmlE fvndlnE bld5 tv 5QCUTV 01119[141 w51>, ¥i[ll¥e, dnd LdVdLIIy.
Dur4Jll 04 of 2025. sublect lo SUsSfUl fundfalslng duilng Ihe first half of the year, we wlll dèliver tp
Iredi%Fddy dina Irtrliilreiyireldllyii ul tl ol th MlL5tUi Iiiio tht 18C5 of
MDtDrirl# dailety. Tèliih8 itoty ol In Its soclal riiltiirAI 1whnIa8IrA1,
Jniexi, Ihls wlll feaTuTe Caf5 antJ moior(yile5 loim Ihe earlle5t day5 01 rnotNlnB lo tkke prc5Ent - ond
EniOurasE V4ditDT: lo ihink aboui ITaf¥SPOrt ustJlfyibllitv Inlts tlie fvlure. fiiose new 8IEpI•yE wlll
|ts¢ludr th Slanjli¢l•l l>¢rf ¢1
The Natlongl Motoy Museurn TNst Llmlted la Ilrnited by Eua Tantoel
Trustets Report lor the year ended 31 December 20Z4
lEc5WdInf to our au(nen(e develDPtnerrt re5earth aTrd vlshoi feedbacL foTm311ve evwliAwilt>n
thBI as H new ggller¥. ¥es v>1 Mottsrirt& will contribute the bp6innlnEs uf a turnaround
ot the aTrNval v15ilor number5 trend dtrrlng 2026, wliS¢h wlll the bvill innoyaltwè publlc
értl the Into the Fulufe ma51erplan as we move towards tl)¢ ¢Dd of t
decade. Stren&thered Vlsitor ftttrmbeys Will torttTibuE lo the Intrpa5od vlabllliy and bu51nps5 re£lllenre
the NMM, Ehus 5aleguardlng our ¥¢hlGl¢ •nd molorlng hffha8e (olknlons for lut4Fte generalion5.
pi
Furlh¢rmtsrQ. 0¢ TrADlorinB bolng d@s18nd wlth a gr31[ dggrpe of hinds-on IpieY?IllvllV Ihai
ITh iho NIAIA'S pr¢Wvsly. Thi5 15 bEin6 lined to updated ind renewed lormal and
informal IEarninE 3cEivi1125 and wrAmM¢s, oThd Wi¢h fiiiidlfi4 f¢oth iht NLIIF t¢arfd5 tliè déiivÈtyof
tk woittl trtabllnB IP5 to erhploy a part-time CIKnmunkty Leamlng Offkei, an ablllty to devek)p
outre4th 4nd MmUnIty k•rnlDg proyèmthÈs a s1wifant a1 5UStalned 5£ale loi Ihe Ilt5t tlme.
Th15 w111 m(trtt3pp3rpntlydurlng 2ts25 ihroLtgh ilie delfvetyof Out,rIva iht c£MTAU nitv,
inItF0tTr. This has Seen a vlniage 19715priie cafavan repurpose0 io mobile wlii¢
wlll y4114 wIOe ofxhools. t4re homcs and cthnmuntty events acrDSS Ihe smmerand auturnn.
FU[dIs1 rern&lns of the hlghest wlorlty In for1 plJn&. vrtbout additlonal Inco•)io over
aknvt visitor ilrktst #altrs and 8ltl aid incorne, our annual books iannot bo b41an¢e¢l ond nfkne of Qui
her irntylldprts tye tealised, Tht Io¢uS in ql of 2025 win on consislld3tinE Dur Incre35ed
fundra1 Gipaciiv and bulldlng coh25k)n In tèbe tsevek>weni team, nils Will Sit oltsrtiSFdE Iht
rt3tiDnal Motor MusÈum Trust Llrnlted la company Ilmlttd byEuarantce> TrystoDs Report lor tkn year @nded 31 Dèc@mbèr 2024 IA4)ylnu forwaryl wrporate spons0h1P efforlj wlll focu5 on barter 4reetnefits with bu5ino55S and fftDIDTin8 laId bull1&. Ralhor ihan cth5h Swno*slblPS. vot havè iY81?$it¥)iied io prolilc tlI11n& sprJn30rybips iii kin¢ Jnd ¢olLJl)or•iivg p•rine.Ish1 io drlve yl5iior5 ui bealeU H. There k 4 Stron8 plpEline uf opportun11 tib be converted In 2025. In 1015 wlll t%titslt 4 seilt5 of ovents and •ctMtits to St•rt bulldlw leg4w t4pelln¢. It ts Ufjlilcelv there wlll an Imrnedlate futidiThÉ Imp•u, hOwr rnèdlum to long tErrn It Is tr 5Lited ambltE<>n to create an eTbdowment tund ot £12 million, It Is env15aged that tho Interesi from the lu1 wlll Svpport NMM Iuiurt pl•ns. VL Iomly Sunbea In )025 wlll rwilntle lo dellver ihe prothe ip 51e the ICM)Ohp Sunbeam and hna115e i It1TY3nd dgtailod costly ot a potonilal US tour41uiknB 2027. P478¢ 24
Th8 National Motor Mu5Èum Trust Lirnited la company lirnrted bvEU3 r3ntee>
TnJstèDs Roport pr yeBr 311)ocepibeT 2074
FINANCIAL REVIEW
Incomlno Restsurc
The w5de ol chaiiléble acthitks tht Natlonal Molo MusÈum Is Dosslble to t
In(Dmg &enpr7dted from a vorlety soUr5_ Flrsi 15 ihe tsoilon81 klolor $118we of
admlss40n leek to thE BaUlIeU atirallion In ld1[lOn to whlch is Lhe tax Teb3ted by the 6Dvernmeni
I he tslft 410 Kheme, Qlhef souYee% of fjhe4me ale &POfiSOrshlP from tiknmet¢iai partners and
In(£)e gerkerated frorrt Nat6ofial Motor Museurn's Iradlfig subsadkaty. Dona15ons fjiaTtis 4r¢ 4150
IthpDrtanl ID Nathlnal Motor Museum, We luvbdrai5e for s£11C and genefal purp(bse5.
Vbltor Adrfb155knn IncDmE:
Mèt Ybliotin¢ome thE year to 31 DEC 2024 equated to £2.499m12023: £2.591m).
Glft Ald:
Glft ald from Y15itèr5 museum in the YEar tD 31 Oec 2024 wa5 £322k <2023: £J22kJ-
Ttadirt¢c¢mpan
dortètèd tyblll$10 thè thatity è1154k ¢2023- £52kl,
VdUn1ry lthcome:
Alihouih fuftd¢@151118 the cuf¥tnl elm•le hbJ1sÈén tilt11, we h•vt Jkn
The Naiknnal Motor Musgum Trust Llmliod (a company Ilrnited bYEuarantoTr
ThJtÈ RptJrt thé èdd 31 2Q?4
TtU5téÉ5 to 8Vb5ure Ihal the 5er¥lte Fth1d are io the requlred standard and thal tho thai8BS
reprexni 8DDd value.
emrlIn Polity
Iht Tru3tQÈ8 conjldow tht Board of TiiStets, tht thiel EAetutFvE offi[ Direittsf ol Colle(Ilotl&,
FITr3 nclal Olièctor, of ftsvÈlopmgnt. Lè8rn&n£ kn4in3ger kn8n8ger to be tl)e kev
maTrasETneni Tsonnel oliho chariiy. All Ttusiees ghve their ilmevoluntaiityand TeEe]ve no tinanciAI
beiieflls the thatity, Any e%penses rtttsimed Irom ihe thfitY arc detllw In nèle 19 tv Iht
bEc0ts.
The Flnanclal Dlv¢Ltor and Museum M3tiaÉei afe s41bco&traaed B¢•ull¢u Efit¢ry)rls?s Ltil. T¢
tale5 Df pay FDr any 5ubcontrbtl w51tion5 are negotlaled (In in anddUal ba515 to £ain best value for
the thtirity Tr8ulotly reviewrd by tht Truslcts. When tOn5idcrinE 5aknrlLP5 ltsr oihtrs Ih
hArkty kb(bks 014 numkber of benchmorks frorn bh ilie museum Twoild and oiher IoKolempbyers.
Alsk mJnpxenTreiit
Ihe TiuattLX èckr4owIEd8t Ihtlr itSO(ptts&bllliY its •Jiéss ottd ihÈ thblor rfl&kx ié whi
OlYAl Truk¢ LSrniteO company Ilrnlted byqu8Yantee)
TtsSteÈs RÉpiKt th¢ 31 DKcmbew 2024
obtakn the best return gn Gt5h iesetv¢s whll51 ngt tyl vp fund5 needed foi the day-to-day running
of the chaiitv.
FUrtdr•I
AN furhlTèi51n8 effort5 of Charity are led bv the thlef eecutl¥e and the setTrlcK tÈ3m.
wllh Ipt frcAM trv51tt5. art tè¢i•Èd O4rt irt line wilh the Code of Fundraislng PiaEtlce. No Ihlrd
P3rty lundr315@f5 rurrently used. 4ppco8¢hes lo the P1C thad only Dn tho slto or onllTro to
poople who hèvi artwely chosen to wilh (hgrJiy_ Tbe Cliwrliy ¢ now • Svbs¢rithr tts the
FunOrèlsln8 le8v14t. There havt btrth ho cmplalnt5 fflade to the (har4ty In T¢gard lo fyn¢i4kslng In
th2 year,
Structure Govemance Ind M•n¥Bemen¢ objortlwes and Athwitios
ObJEttrs and 4r1111
Thp lail[1 Krtolor luSeuM Tmsl Lknlttd Is * &BiStÈTEd tharlty. whtch was Incorporatgd In 2tW
Is a ctThP3ry h'vnited by 8113f3ntee. 1115 governpl tyy lis 4thd Art i¢lr5 of Ass¥al 3Thd
Its objertFvts bre ity prDmDtE educatlon. research and cgnseNatlon of Ihe h15tory of lfi GlÈ3t
Brilaln and 1ni¢MatbhLl¥V lh¢ btibtfil tsliht public, The thTee obJectiuEs awe rnore prectse Stated
In it5 Memorandum of As5Odati[ 4$ follow5 and Ikawe oot ch)8¢d 5iii£e thé lasi annual report-
To Iht tducatlon ol the public coThcornln8 ihp hlstory of rn4lorlw l>oth * Giat gfktap
and IterlI&1ty. lo k¥rtl¢ulbt Ib exhiblt lo the public h15toilc motor veFElcle5, dDcurnents
PhDtoraphS. artef&ct5 other ¢xhlbkts In With tho hislory ol motorinelniludln8 but
not limiltd tts tIM)SL: ltsrthlry part ot tho lIK)n.
lo prDrnotè r¢sègr¢h lfiio Iht hiSlQt tsl MQlOrihÈ bolh Great 8Tftabn and ternatInally for th
benEht DI thE pu6Nc llnd to publljh th¢ yjefyl r¢sults of wch
To loi tht bettEfrt ol the pub£ hirtoric motor vehlcks, dM¢tryI1 ghoM81opha,
artÉlACt& ano OIMr ¢bthlfJllS {If•¢ltsQity l¢tOttfj¢ whÈdial lone{ted wllh Ihe hlsioty of moloiln£
both In Greot Qrltaln Dnd Iniernatltsnally. I1411108 bui IlniSttd IQ th05t f(rfnllil8 yart ol Il'ly
calle<llon.
We h•wt rtltird io EUaTrE cDniaiTrpd in thp charrtv Lommlsslon's Renèial Aiilopnte Pvbll¢
b2neflt whcn royl¢wk¥ rwf iilths objt¢liwJ plbrthinu tsu Ivtvre In prdrtKular, th¢
Tru5tee5 conslder how planned actkltles wlll
The National Motor Museum Trust Limited la company limited byguarantee) Trustees Report for the year ended 31 December2024 The Board meets four times a year for routine business and convenes meetings as necessary to consider urgent issues. In addition, the Board or nominated Trustees take part in annual strategv reviews, the preparation of business plans, risk analysis, the annual report and audited financial statements and in any ad hoc reviews which arise during the year. There are four committees to assist the main Trustee board in managing the organisation. These are the Finance, Governance and Risk Committee, the Development, Fundraising and partnerships Committee, the Communication, PR and Marketing Committee and the Collections, Learning and Engagement Committee. Each committee is made up of selected Trustees, other specialists and a member of the management team. The day-to-day management responsibility is delegated to the Chief Executive Officer, Dr Jonathan Murden reports to the Board of Trustees formally at quarterly Board meetings. If between meetings he wishes to discuss, inform or advise the Board on issues of particular significance he will do so via the Chairman or nominated alternatives. Clear authorisation procedures are in place and are regularly reviewed. The procedures set out the circumstances in which the Chief Executive Officer must seek Board approval before committing National Motor Museum Trust. Public Benefit The Trustees confirm that in setting the Charitws objectives and planning its activities they have given careful consideration to the Charity Commission's guidance on public benef it and consider each year how it meets the public benefit objectives outlined in Section 4 of the Charities Act 2006. Trustees. responsibilitiesstatement The trustees {who are also directors of The National Motor Museum Trust Limited for the purposes of company lawl 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). Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements complywith the Companies Act 2006. Theyare also responsiblefor safeguardingthe assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 28
The Natlonal Motor Museum Trust Llmlted (a company Ilmlted byguarantee) Trustees Report for the year ended 31 December 2024 Dlsdosure of Information toaudltor Each of the persons who are trustees at the time when this Trustees, Report is approved has confirmed that: so far as thattrustee isaware, there is no relevant audit information of which the charity's auditors are unaware. and that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any information needed by the charity's auditors in connection with preparing their report and to establish that the charity's audito are aware of that information. Auditor Saffery LLP have indicated their willingness to continue in office. The designated trustees will propose a motion re-appointing the auditors at a meeting of the trustees. This report was approved by the trustees on 29 July 2025 and signed on their behalfby: Robert MacGregor my Boadle Page 29
ThE atr41 Museum TfUSt Ltmltcd
We have audlted the fin&nclal slaenie.nls tsl Thè NAIIcftAI IArJteJ¢ Trii%t {Ihp 'lklrknt rhkritahlp
L4)FllVdVly'I d1141 ilj JubJ1411&1¥ liiiy 'Mivuy'l lur Ilie year ¥fKleql 31 Its24 wlil%ti wrnprlsr Ihr
Co$011&5téd 51tÈrfpbQrtl ol F5nanc0l AdtvitTC5. thu Consoh'dalgd Balonco sht, thq Charlty Bil3nc4 Sh•&l,
Ihe co01(dared Cash Flt)w sigieille ttgit$ io ihe fiillritithl si•tcrncnt5, 1CludIn8 SnpfIran4 èCCDuntH
POIItIÈS. ThÈ linJDrial rEPOrtlng fravnavork that has b2en applled in thelr preparatTr Is appllcabl¢
Unlted Kkfiil¢M A¢<OQOtirt8 Stitsdids. lrtludl Finantiqil REtsort1 Standard 102, Ihe Financral RewrtlTrg
StaTrdaid appltoitlE &rJ lh¢ UX and Republlc of Ir¢Id IUDll¢d Kln8dcffj) Gtnuamv kctptd Ac(Ct
In our oplnlDn thfinanlI1 ll•ioin4Trits:
&lve i tfts¢ •fia f¥lf of lh¢ $i•it. ol Iht èlfèlts ol thé Ètovo and the paient charilable cofflpaThv
a5 at 31 December 2024 •nd of lh¢ 8TQVP'S IoMIA ¥t5ourct5 47nd appJc4tFon of resotsrcÉs,
tludihy Its And ry)pnditure. lor the year th Ènded.
ha¥È betn pwoperly wepared In aciDrdance wlth Uniieo KAn8doffl fjen¢rally Aryepied
pr8etlce; itsd
haYE bèe ptepared kn actordan(e wlth the requ Iremefit5 of the Cofflpanles kt 2tA%.
Ba515 knropkrbl
We gudli in a¢dnee with Iniethatlohal Slèndard5 Audltin8
Tho l¥aiionzl Molar Musèum Tru£i Um41èrt1 IA rompany by paranteEJ IndEPEThlent @u[Nt[S report to the rnembers ol The Natlonal Motor Museum Tru>t Llmited Cknr KQSWfi5ibililv15 lo fÉad the OthÈr if•lot¥n1itl( find. in doing so. i(Jn5idEr whelhei the othÈT IE m&leNally IOnSI51enl ilie li317claI st3lements o¥ knowjedge obtèlrd In tlie c<wr5e of the ivdit or othenvbse. appaT5 Lfl be maierially rntSStated. 11 we idefiiity such nleI31 1neonslsiencS or app31Èni Jlerlil mlsslattrntnls, WÈ are requl¥ed to detcnniht whether ihls 8iYe5 rlse tD a maltri&l fflb5tatEment In the flnafickl slateffienis Ih¢Mselves. l[. b•se¢ ¥èw¥ ¥èe have p¢rf¢rM¢O, w¢ ¢ofi¢lyO¢ that Ih¢rfe Is • terial m1$5talervbent DI th15 Other inlormatknn. we rdre requlred to report that facL VL¢e hwe tmjihlng to report In th15 resord. Thattgr5 prv5Eritsqd by thE Cornpanle5 Arl IQD6 In ovroplnlon. based On the vork undertaken In the course of the audli: the Informatkkn ven the Trustees, Anftual Report whlch bncludes the DlrettDr5' Rert and t wlih the fIantI•l slatements- Iht Ttust¢e5' Ilcwrt wfvicty ¢hc$ Ihc Dilrrtors. RPtsTi •NI the 5tAte#rt Rtporf bee pr¢p4red kn a[ran{C wllh èopiiGabl¢ legal requir¢in¢nt& In liuht DI thp kntV4wledBp and uThlEr5tandin8 01 thÈ 8T{P aml ihp pareffbt charliablp ([anY ènd theli tnvlronmtnt obl41 In ihe wur3¢ of ihf oudli. YK not Id¢nith¢d fft4lcrl•l 141¢¢nts I th¢ Tru5t4R5' Annual Ilqwrt and Stratq8lc bport_ W¢ hovc h18 to r¢port In r¢sp¢ 01 lh¢ lollowl¥ mDllers Whe ih¢ thmponlt¥ A4t tt06 i¢qulTe u5 to report to you If, In our oplnlon,. ¥d¥qv¥lY ¥Gwynlliva h¥vr brwi kryi Trry Ihr wi¢iit Lhiili4lJl¢ ¥QrnP4iiVJ ur TftUT115 dggUat• for Dur audlt hAv• not boon nicalvad from brAnchas not vl£itqd by vs,. rrd3 ond returnjd or rprtAlTh A14rlfy41 iri islpK' Nhmiinpf•ilnn £rwlflpA IHW Brp Thnt rnkrto. wp. hove rece1ed. Ill ihe lfifoYm8lw)rt •rtd explaiiailvts we ce4ulre for •tsdil; or Re5pgn51bMltle5 of tTU5tee5 A4 p¥pInrt rnnI hilty ITh ihp 4tAtprnpnl Trii%lH&sV R&4n1hIf1I1s W ni1 ?? thp IniElèp¥ {h(b re a150thE dlreatH5 01 thE pawent chaTliablE companv IoiThe puip05e50f comwny Lawl aiE WE5PDf15kb lorthe prepirfil ion of Ihe flviBn¢l41 *1¥teenI$ fo< 6all&lied tli•t they Alve a Irue 8nLI f•rl WDV4v, ld foi 511Eh Inlèrnal iontrol Ine trustees aenI Is necessary to ènablé tm preparation ot thÉ tlThanckal 11 yi Ilire tsJidiiLl&l >141¥iilik>, tl)¥ li die [VrI>l7¥ Ivi dsse>>lii¥ t1 li ILf Llie Vdrvril eharfltathc tornpan¢5 ability Iocontlnuq as a8Din8COIICqfn. di5c105in& a5 applicablc. vnatior& rqlatod tD801118 ¢0CerN antl uslrt& ihe going toh¢eitt bas1$ of •C¢Ouhiirt8 urtless rlie irvSiees t4ihei irtietto To liiuiO)It ihe 8roup urthe parcnl chJrltJblE company or to 0poratio, or havc no realtk alicmailve byt to dg sp. pe31
' È Nbtibnal T¥totOr èU1 Trutt Lithllèd
(A tompony limlied by sUarane}
Audltrfs fesponslblllttes lor the alft of the firnanclal statoments
Wt Wn aDt)olftled K 8udltbrs tsnder Comp&nles A(t 2(lJ6 and rep1 In accordance Wth
resul@t15 vrTrade under that Acl.
YafP io I141 rbIP whether ihe gfOUP and PAreni financiil staTemenTS
as a whole are freE frorn Thaterial ffl1551atefflent. whether due fo ITaud or error, and tD iSSut arl iu&ii¥¢$
repDrt thal inGludÈ5 OUT oplnion, Rcalvnablt 47SSurèh¢t is è hli Itwtl SSlJrlfrtt. Is Mot h guarfldFlt¢e
thbl on ivdlt condurt¢d in fj¢cord4n(¢ wlth ISA5 (Uk) wlll alway5 detect a matedal mbstaternenl when It
xIEts. fthisstatemenls can ar15@ from fraud or 3nd are considered mal@rial rf. Individually in ihÈ
ywe83tE. thoy {ld reas(ablY bt oxptcted to Inf luence the economlc decl$hJn$ of Users taken i he bJ5&
ol these fl A8n¢lal $teMentS.
Iiregulari11251 ithludin8 IrBud. are In51aFbté5 01 nort
IA uJMpany Ilmlted b¥ ELl•tfitèe>
lo¢lepeyent •udlt¢rf% TPOrt t•J the rnember5 DlThe Nati(al Motof hknseufft YS1 Llfflli¢d
Thefe are tnhoront Ilrn&t4tloTrE In ihe pro¢edvres des¢fjbed abDYt trtd tht lurthEr rErnL¥Vetr r-
<<y&pliiTrre wilh law5 and regulatlons Is from the e¢nl& and tr1Thso¢tK)S ftll¢¢tt
Tho 14atlunal Motijr Museum Trust L&mited IAcompany Ilmlt¢4 by suarantl n501idatEd 5ratomonl oltlnanual actlvitbE5 Fgr the y¢•r¢n4e4 31 ptt¢mts¢t lQ14 Restrlcted Funds 2024 Unre5tr1cted Funds 2024 Ttbtal fufftrÈs 24J14 Totkil lund5 2015 lThcome frorn., nail[5 legBcles Activiti5 to tund TradinB I¢INrtw Inve.stments Chailtable a(thltlE5 4al,960 9. 100 41,396 3tJ,587 795,547 103,502 154,650 36,614 2,499.588 774(7 115,495 2QI.QL4 42,2Gg 1591,352 113,Z54 36,G14 2,499.588 532,456 3.057,M5 3,589.901 3,728.197 sts of generalln8Volunt•ry IncoThe ChJTlta6h Jcliwltip 396.343 12.?40 122.947 3.116.92X 3.239.875 2.941A47 T4taJ ¢Kpth)dltv 122,947 3.513.271 3.636,218 3.354.181 lo9,}9 1455,6161 (46,317? 374,01(Tr {L055JlR31n on InvE5trnent property mckwmpTrt In hindi hplAr• trin51tt5 144G,A?A> 14&.l17) l74 (bin I r3n5fer5 betWn lund5 19 Npt ma¥AmRnt In tundE 14E4.R?&> 14E..I17) 174.njo Totil fun4F At l 2024 1,141,831 ,278,3lf g,LIRS.141 Total (und5 at 31 DEKembcr 2Q24 l.S91.347 7.922,49 9,IL3,837 9,460,15¢ 11 ifil¥lll¢> r¢lp¢¢ to rontlnylns Qprr&lTrS. not•5 on 211 to SO forrn part of tlnanclAI stat•rnqfftt£.
The National Motor Museum Trust Limited {A company limited by guarantee) Consolidated balance sheet As at 31 December 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets Heritage assets Investment property li 12 13 14 71,363 1,994,048 6,655,686 317,(XKJ 1,770 1,654,262 6,625,586 317,000 9,038,097 8,598,618 Current assets Stocks Debtors Cash at bank and in hand 16 17 9.979 512,119 309,998 7,841 382,328 749,995 832,096 1,140,164 Creditors: Amounts falling due within one year 18 (456,356) (278,628) Net current assets 375,740 861,536 Net assets 9,413,837 9,460,154 Represented by: Restricted funds Unrestricted funds 19 19 1,498,826 7,915.011 1,181,838 8,278,316 Total funds 9,413,837 9,460,154 The Trustees consider that the charitable company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2(K16 {Yhe Act-l and members have not required the charitable company to obtain an audit for the year in question in accordance with section 476 of The Act. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved by the trustees on 29 July 2025 and signed on their behalf by: Robert MacGregor Chairman rEmy gopolè U5tee The notes on pages 37 to 58 form part of these financial statements. Page 35
The National Motor Museum Trust Limited (A company limited by guarantee) Charity balance sheet For the year ended 31 December 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets Heritage assets Investment property li 71,363 1,994,048 6.655,686 317,C 9,038,097 1,770 1,654,262 6,625,586 317,)0 8,598,618 12 13 14 Investment in subsidiary 15 9,038,099 8,598,620 Current assets Debtors Cash at bank and in hand 17 494,765 298.834 363,506 739,627 793,599 1.103,133 Credltors Amounts falling due within one year 18 (459.245) (296,591) Net current assets 334,354 806,542 Net assets 9.372,453 9,405,162 Represented by: Restricted funds Unrestricted funds 19 19 1,498,826 7,873,628 1,181,838 8,223,324 Total funds 9,372.453 9,405,162 The profit for the financial period dealt with in the financial statements of the parent charity was £87,70112023: £371,013). As permitted by Section 408 of the Companies Act 21X)6, no separate profit or loss account or statement of comprehensive income is presented in respect of the parent charity. The financial statements were approved by the trustees on 29 July 2025 and signed on their behalf by: Robert MacGregor Chairman remy Boadle Trustee The notes on pages 37 to 58 form part of these financial statements. Page 36
The Nattanal Museum TILtst Llmlkd IA company Ilmlted by suaianteel CDn3olld•ted x41emtffj of t¥3h Ilows For the year ended 31 De(ember 2024 21)24 2023 Not sh from operatlns act1lIeS Net Ilrt(DrnP}loxpndliure tor tho Yar 46517 371.010 Ad]kbslmeThl l•r: OEpreciation Iharge5 ImpalimÈnl )n&ied 8ssels Iniewe51 iecetvabie Profrt an silt5 tyl lixed asseis Incrp3s¢ In sloc (Increa5E]Idecrea5e In debtors ¢lntrcbse}Idtttthst IA tredito Nel ¢4sh Éenwated fromllabsorbed bvl opeyall aLtlult 171.114 36,( 157,ISO 19.1591 iioo {2,1381 {129.791 177.7?8 flO.4941 {7.8411 2Q5.993 1139.4021 18.6041 197,5J7 tash IIDW5 from Ami5th8 actl¥hies Inlere51 recttved iirchAsg of prgP&rty, pl?nt gqvlpmnl VurchASè ol hÉrltaRÈ 3ssÈIs Pr(h•Je ol Inllln6iblE aJseiJ Prnrppds +mrn 4xlp nt liypA 9,155 10.434 1190,9561 16b.ItxJJ IG9,J9J> 147po) N¢t vsto lil lfi¥tstStr1¢ 1637.534) IJFI.FxRITr ¢wih In th• y••r 1439,9971 1190,3>61 749,993 940,251 Cxih and rash Rqu7¥alRrrt% carrlnd *arwxrd .1 h¢ rtoltt on p•Et$ 37 10 S$ lomi plrr of ihtse fi h•n¢l•l si•itmenis. Pale 37
Tht N>lltsèl MvStvrl TTtsSI Llmitqd
Ilotes lo thv Ilnandal statonMintS
For 31 DecwnbÈr 2024
Dumin8 poIKt•5
Th¢ Natlpnal Aotor IAu5¢ym TtU51 Llmli¢d15 a ¢omp4ny Ilmlt¢d by guat4nie¢ Inwtporat¢d In n8land and
WaFe5, The rE8P5tewed oFFe 15 &Dhn M{tagU Build1 Beaulleu, Hamp5hhre $042 7ZN,
1.1 nB515 of wpratl)n of flnF4fbcIBI ttement
Tppe flngnclal stgie-mer41$ hwe been peewred in •¢eordarrfe Wlih A¢118 4nd Iiewmlw ch411t2.
siaternent of Recornmended Practltt appllcable lo tharltles prewdrlfig theli L¢Unts In aLYOf&ance With
thE Flnarttlal ReFJorth Standard applicablE In the UK and Rew611c of Iweland {FR5 1021 lefFedTrwe l January
ioigi - Ichatitles Rp IFR5 10211. tht Fltt•tial Rtport&A8 Slandard ipolSt•ble In Iht UK and Rtpubh'tof
Ireland IFftS Iq)2) and ihe Compgnle5 t
7he N•ilort•l POoi¢r PAiisevth T$1 iimrfeo nbeei$ iht Oefiniiitifj of • Mibli¢ betyt(11 tniily vn¢ltr FR$ 102,
sets and Uabilkt5 are Inltlally fecognised at hlstorl¢al cost or tran¥
TliÉ% Nariomal Motov Tvusi (A ctDmpony lirnited by 8uarantee) Notes lo the Ilnanclal JtatEni¢nts FDr th year endBd 31 Decomber 2024 l At(tpuntln¥ polliie5 ¢tontinued> Th¢ tlttofi¢l•lsi•i¢thtrt¢s h•vt l>tb wt#artd OD thè knis Ihat ihe th3Tity1S a goinÈ G¢MltEtn. ThE TIu5tèeS EOn51der that th¢r¢ are no materlal unr¢rt4lntks on th¢ thorllW5 4bllltv tp n11n¢11S •Ctlvllle5 lor the rorESEÈablE lulurp. Th@y havp approved 3 detailed Iniome and bud&Èt fDr 2CQS, the ch47rfty bas ¥ re8iilar slreJm of Inry)me from Itsvlsltor adrn15SOTrs and its resofYQ5 pofiiy means that it will be able io mqoi tts otylJgaiioft5 syffl¢l¢Di io n1111¢ ègal&1 any Jnlofeseeii CiTcumstav)£&, Foi le¥aii85. entltlement is laken a5 ihe earliei ot the date on whkh elther. the compAny15 aware thal piobale htss bért 8tJrtied, thé è5tatÉ has boen linallsod and notiticatlon ha5 boon rnado ty iheeiocutDTIs to ihe Trusi IliAf 3 d1srf11lOfi wlll l)p mAde, gr wli¢fi & ¢lsirlbtsiiott Is ie¢¢lweO lorYI Ibe e$i¥i¢, He¢eipi Of a IEgJry. in wholE Dr in part.15 only con5+dered probable when the amaunl can bE m235ured r¢llably A,Th& Ibe his bttl hètvlitd ol tht tx¢ulorf$ 5ts1ÈntlOn to rrtake o di5ttlbutlort. Where a(S have b¢¢n lo ¢h¢ fWnP47nYp or th¢ wpiny15 of lh¢ &r•IkTr8 of prob41c. and Iht cr41or4• lor inctHne rpciyltlon havo nDt Ewn rn@t. thekn th@ k tr@ai as 3 (ontlngonl 3nd dkikn5ed If malerlaL AII knEoming reSsrieS arp In(deCI tn the Statenllt at Flfianclal ktlvllles vthen the ch3rlty ks enolilod to ihe In<4)qhe 6rtd ihe be 4u•hiilied wlih reJoFbb&e except or stanty donaLlonsvthere the donor: SP19% that donatlons ind 8r3ntS 8hJ•n to lh• charlly fftiist typ ITh fvlvwg iMI4)S¢S w1111(•$ Whl¢b h•ve10 tye I111t4 betort tht ¢b4ritv bt¢¢lplS trtlll Itd tè v5Q $uth. riit% IN klrtd Ir>r Al%trllxiliThrt xrp lThrliJthA al vAliiAinn FAnd Inrnrnp whpn Ar dl¥lrlLwl¥d lo Ihc wvjprls, Glf15 (nitrd Ipr 41fe Inrludcd a5 when they ale sold. DIat fr£llltlAs At thg V31u•to thp comp•ny wh•r9 thlF Ihlrd paflY16 Lwrln$ Ihè r05l. NO arTrDunt5 4TÈ ITh[ded In the financwl 5fatemoibt5 for servKo5 donated tJ¥ volunteer5. tax fecoverable In relatlon to donatlons rece under Glft Ald oi deeds of realSe 1.7 InTeresT retelvable ifiierfesi lu$ Iltlfj ¢pl dtLSfjS¥l 1$ lfy¢lvOtl rtceivlblt ifjd tho l¥ncwryt be rria5urèd rolièblp Ilbe CornnY. Ihls nprThi•lty ypon notificafiofft of the lThi¢r¢st or py4bk ty lh¢ Yifjk. IA EKpErKllkuTp Xpèndiluro 55 re(ny5d onc8 there a leR41 or CDiITUCtwe oblwKHb t0 rn3Ie payrnent ID a thlrd Partv, li k5 protsNbl¢ ihat J¢til¢Menl wélll be requ11 tho omouTrt ol tht obli¢•llott be me•Jued l[lIbly, All ÈAiidllui È 1> Ivi'thi alb èiiivolj bd)b. Al1vAy1J 11KlI111 >UVWFt Lv>I> diid w4reriidiK costs ore 3lloc3ted tfj thé hèadithei W¢ eVeItye Ih<iJrrfed Tel*ld to Ihanone 1051 £aTegory li Is apportlDned on a ilme orusage bAsls, (wer 8nd alwe g Oe mhTrlmls figure. Pasc 39
Ih N#lir&nèl I¥$LI}Yt Trtist L5Mltèd
l Ilmlted by guarllThiee)
riptf5 to thv I1¥11 ¥lMtement¥
F
rf>rt of txttn¢ltllf¢ )n Ihe objvts Ihe Eroup ind In<lude pltt minagifnent CarnEd
al Hequarter G[Neran costs are Ih05e Incurred In ith adhlttlsirbiiOfj of I h¢ grou
X.9 emplgy4o
ThÈ thavity éwrai¢s i fln¢d n1blin p¢nsloTh ¥heme and Ihe pefi5ion charBÈ rÈP*cSEnts tht
arnounts pa¥alJle the charlty to the fund frn ¥Espect of year,
Tetmlnatlon beTheffts a recogrbbed IrDrnediately 45 an when tk IhaTlty 15 dpmDt15trably
mmliEed to tem11ne the emp30ent ot an efflployee to wovidt terniIrtn beneflis.
1.10 1ht•tssIb flxtd 4ss¢t$ 4Ad Irt[lIOn
Intart81 fwed A5Sp15 art 5tattd al 8.
All x44Pt% arp pyxrnlrwrl Anniixlly tnt 1PrIal ImPAl*th*ht Artd aty MAterlYdl ledudl0 In v£lue Bre wTllten
down at th@ ytar end.
1.11 Herltage assets
Incltsded En lkned assets 15 & colle(Llon of hÈ5tork molof vehlde5 wht(h aTE thé>Su¥Èa ID IM finirfsal
StfitemeIJ IhÈ<rfp&t thtsdÈl.
Pago 40
NAtlonal Motor Ilmlted
IA EOmPdnV limi%ed by guaidnieel
Fol the yearended 31 De(Ember 2024
I.IZ H2filaiea55ets Iwirtinued")
Other Inallenable and h15tortc a55ets afe detalled In nole 11 to the actounts the ch&rllv has nol
hkluded IhesE at 6 valu8tKJn As pErtniited by SORP pdtayaph 283 be(ause no iellable cost valLPe ca
be 8ltYibuted.
tquislllèhs ort madc I1lIng thorouBh euThSidcration ol the value and rElevanEC Df tach itèm to thE
olle¢t14, th¢ 11 111 be vlll6td •rf•d Iht ithoI¢oii
Tmè Motor T1 Lhiilt¢ {A PimitEd by 8uJrantee) Note5 to the firn(La1 statEm¢nts Fot yEarorbdBd 31 December 2024 1.19 Orétin¥ leases RenLIJ5 uThderopeTall Iw$ ¢hwrg¢¢l IQ Ihe $1giem¢fji rf Flfftwn¢l¥l Aathfies on 8 $ir4lghl.lifi4 ba515 ovcr thE IEa5e term. 1.20 Go¥Ernment grant5 ¢overnmeni gronfs ale recoBnlsed at the lalr valiie of the osset recelved or TEcohTablo when there Is 4SSuran ¢hai i hq gran¢ wndltlgn5 will t a pil Ihe &rant5 Will be re1Ve A 8Y4ni I h•i 5ppc1ll tOhdItrt IJ ftt¢&hié 11 It&I whén thÈ wtèmlarttÈ <BtldillorlS ère met. Where a grant does not speclfr¥ perfofrrtantt ajndltlons It k5 rewnlsed hi Sntome when the vroteed5 iecelvEd or te(ehvable. A grant tecelved before the re(cv&nktlon ulteils Are sat15fierl is eccytsed as a liabil¥. 1.21 SIDEkS Sto(k5 relple to whl(h pr¢ 5147t¢d 41 Ib¢ lowv gf •nd ¢slIni?t 3¢ll1 prto 1È5S CD5t5 to 5dl, whkh 15 pquh3nI to net TlSable value. Al 03ch Toporylng dato, g n asseE£m?nl k fpi lfflpAlfrnepi, Affv eycess of Ibe carrylfig ¥nwnt of 5tD(k5 over its estlmated sellin£ prlce less costs to complele arHI sell is recognlsed as an Impa&rment loss the 0[, ol Ithpaltthent loJJeJ •¢e i ljo ¢etO8nised lrt the orA. I k14thilÈ Irviii 4kn1[bUllY dv141 ftesiileied f unds 2024 ljnresrrtlled fund: 202 Tot1 tund5 ftestrfttèd lund: 2022 rextitted lunds 2023 fut 2024 2023 38,150 175,777 137.81Q 213.927 137.8lQ 44J,$lQ 75.272 481.Q2Q 11.333 65.237 117.530 L42,6ts) 598.55lJ fjin5 In Itlihy Grnnts 44J,g111 Total dDnatlon5 4EI.5450 313.587 755,547 206,441 2 AcihltSw5 to fundE Ile rtrfrted lu#d$ 2024 UnfEJtricttd éLtrtda 2024 T4tDI lurtd 2024 estTftted n& 2023 UnrestTlrttd lund* 2Q2J Totrdl Fundiltyed 9,1 94,4U 115,4YS 115,4YS 5.1 54.402 103.502 IL5.495 PDSC 42
Thè Natlon31 Motor Mu5Eum Trust LErnld
14otQ5 to rhe hThaThtlal 5tatefflen
lor Iht ve•f ¢nd¢d 31 Dt¢4mb¢t 2024
4 Tradlng re5uIt5
Me51rkted
fund5 201a
Uoresid¢t¢d
hlnds 2O2a
Tot•1
lund5
1024
R¢SVl¢t¢d
nd5 2021
UnY¢strkl
fund5 202
T¥1
fund5
2013
ChsfStytYidlng
In(omE
41.396
113.254
154.650
IOLO14
21Jl.014
Museum swvI5
98,234
98.2M
14¢,Q17
lJto.017
Pltl lty¢om¢ from
tiadlng actlvltl
1,396
15,020
56.416
.957
ThE chdTitdble cofflpan¥ ha5 a wh(plly owned sub511ry1 Nailon41 Motor Museum Tr&ing Ilfflited, which runs
Ihe rAty&erJm ieNl
ThE Natlonal MDtor MwEv TTU5t Llmlted Note5 ihe nnonclal Stote1n5 thi y¥¥tr 4ndd JA fbt¢¢rrtbY 3014 7 yo1 eypeTrdliur¢ Statt (0stS (No¢e ivi Oth4T dir•ct COSts Support Tatal 2014 costs {Nate 81 ExpErt<ure rasir* ful5 Fundr•l5loE Tradl 303,047 589,143 ,234 60,368 3?66 60,36E 124,562 303,047 487,ST 3Atable lvItIeS 562,397 2,127,767 346,340 111,737 1,14E.211 39J83 72.15 61Z,765 l.191,912 721,541 3.636.218 Suppprf 51aff c9515 190,ty)7 11g0,W71 Al ?.77? 419,?£4 c44
The N4Ugnal fwiotw Mvsc¢n Trv5t Llmiied
IA compAMy 11m1td by
FDTthe year &ided 31 DLYembet 2024
? Tutal expEndkture (conllnuEdl
Siaff tosts
(Note 101
(Ithtr
dlre(t CQSt5
5tspptsrt
Go¥•vknirbCe
Total 2013
¢Nots 81
ExpellditUTe on ralsin8 funds
Fundrthisind
TrAdlThE
53,788
77,9fl
218,935
272,723
140ffj17
62.057
62.057
13J,748
218,935
411,740
EJtpeTrdlture r
¢haTitablo attltI
pfirA4ty WYI)05Etwade,
5rJi,536
L998.581
343.419
97.911
2.941,447
GDvernancp
29,329
i18,582
197.9111
563,593
2.159,65a
630,936
3.354,IE7
Suppjrt staff eosls
195.862
1195.8521
759.455
435.074
Supwi ¢oxs
C0515 ol ieneratlni
Presenrfni
Ga¥eYA&Ace 2014
Ttstl 2014
2024
hltOty 2024
$1sf T willaye ifftd kYal#l
aitlcè costs
Pro¢EJJlDnllf ieej
SIBff einpIcYk*ment
trlztlonal Motor Trust Urnlted
rthxe5 tij tho flnaThilal staMlS
F¢1 the Ytèr Ended 31 t>t
Nation31 Motor Mu50um Trust 16rn'h (A cobmpony |irni¢rd by guarantee) Note5 to the fiThan(lal rtatefflqrtS For Ibevea ¢nded 33 De¢¢Mb¢rt024 EmpknypES who rèMuntrttiDrb afth)uthtlrf io tt)o¢t thart £fAI.LKID Its Ihe ¥ear'. 1024 PlurDhr 1023 Plumbci e80.wi. ¢,0 Key Illanage¢t pe[stne1 re(eknl betdit5 totall&ng £257,66112023- E247,211). 11 Intangt45Sts Weksfte l•tal GIDUP and Charity lJanu•ry 2D24 l770 L770 ddliion6 69.593 69.S93 tslsposals Al t]ecember20211 ii,JbJ l JanuNry 2024 ImpairrnBnt EliiiiliidleLI uii 411Jywdl 31 Detember 2024 Nel Ik¥alue I L)ekr 2024 1,770 4770 Pae 47
Thè trlaliMal Yrusi Llmlted IA lomp¥ liffli byguaraniee) ForthE year endEd JI DErembE 2024 11 T3nEible IkKed a55et5 1•4sthold property lspl¥y%. Ilbtary and fflV5eu eqpt Assrts In th UW5e s¢ruttlvn TF>t¥l Chtlt¥ l January 2024 4791,531 3.394.921 5,186N52 Addltk)Tr5 6,B30 164.312 511.142 D15W5¥15 (242) 12421 51 2014 1,791.531 3.74 L5Tr) 164.3L2 5,697.351 Depreclatk l January 2024 ftii thÉtVèa mwlmEnt 1.014,891 2.517.È9 IL5,210 55,834 171.114 Ellminated tsn d11 3 1 Derefflber Z024 L070,725 1,032,SYg 5,705,JQ4 value 31 trg£¢mboT 2024 720,8 I,IOS,930 164.312 L994.OqE 3 1 c*c¢mlKr 2073 77fj,fAO 977.G22 GJ4.2G2
Thv NatlonAI Motor Mu5cumTru5t Lith (A ¢rhmp¥ny ,lled b¥ Bu•i4ni¢el Not45 to Ihe rtalvmqnls For the ¥t•f ¢nded 31 [Je¢emr 2(124 Hastortc moto vehlcle5 EKhlblts. Ilbrarv bwk5 f11ffl5 Totsl Groyp tost I J41Ml4ry 2024 5,735,650 889,936 6,6255E8 Addlt10Tr5 66, IUO 15P95015 lrnpaltmèrtt 136.tM)oJ 31 DecwnbBr 2024 5.764,150 891.536 Depie¢lation l January 2024 Charse hji theyefir Imwlrrrnpnt Elli Iiii IdlÈJ tr4141iSFthal a I 1024 NEI book v31ue ai Dectthber 2024 891,596 6,655,6RG 31 D¢<¢iiIIKr 1023 J,71J.GJO a89,93S 6.625,5B6 a%gét% to111 cl ihe 14lisl'S (ltIlIS hrih nii anA nff dl%pldly Thpy inrliiA&Th 44 (1 mowilng Te13IedobJects. 2E6.543 kems In the releTee Ilbrary& 1,3 rnlllkJD pl1{lih5 vyrr 13. rilrns and vldcD5. The rhajotiiv ol heril4$e &set& have In e)trlyded frgm th9 lIanc& du to th $rtillUhl ¢Wts th91 bè Involpièd In the valu3t&Dn, whlch are onerou5 Cornpad with ihe adrtni1 b2nefit that woukl be ered ty ujerj ol the BttOuntJ lrt bJJosslrf the TrtsJlée& &tow•id&hlp of tho a9¥nI* Tbc rngVCt Ihr nurribyi hl>lvrli i1wJ4 hiLlud¥d lil IIFe btt1di¥ IS li I 11 iè tablè Ipw: 2024 202a NU¢ 127 2022 IlvrnlJ¢r 121 2021 N¢ 119 102JJ Htsl¥il4 Iiivlyi vylilLI 134 116 Pdg¥49
Tho NAtIDrkal Motijw fvIu50um Trv5t Limitod (A company mlt8d tsy Not£5 to Ihe flnaTrtlal 5tatemenl5 FOK thÈ yèar 31 D¢¢tsbr z024 14 lo¥tm Itaseknld Inve5trnent property Gfgvp gnd Chllrlty V•lv•tl At l ?02A New41u?IDQIlS 317.( It 31 fiec¢mber 24)24 117,QOO The 2024 ¥aluatlon W41$ m4(IE by lh¢ Tru51¢¢5 OD •n op¢n rna rket v4Eue f(Jr exkting use bB515. 15 FixEd InvÈth•nts I nveslmellt bn SUbdIary At l Jafwaty 2023 and 31 Dècember 2013 At i Januiry 2024 31 D¢ttrDIKr 2014 TPt¢ comp31W holds ItXPA of the slière Capttal ot the 113tbonal Molur Museurn I r3airbR Llmiie(l {cornpany ThD. 011792941.0 cornpDny reilJlErerl in lryloTrd JThd Wale3 thllt providJ nlujturti Joivl¢eJ, it8151ered ollio¢ It%r N.ItitiiiAI Mii%tr,Iirrt Ttidlrtg LIMled Is Stshn ÈulldlnL leaulle. HaniwthhlTe. S042 72N. In thq onID ol thq dlrRd. thè aBBr•8atcvalue ol th& tOthPabV l¥vrtstMeMI the %uknldlary uDdtr¥akiw les$ IN ihe •oTrouhi kn ihe tyl1•e sh 16 Sto£ks irnllp 2024 2014 2013 s ii)tKh•114%5• 9.979 7.941 Pdxv
ThE fvloior Museum Tru51 Umlied
IA company limifcd bySUarate)
IplDtE5to thE naThriJl 5tatement5
the vear trtded 31 tk
ThÈ f4&tlonal t01 Yru£t t&Mlted IA limiied b¥ gudranieel Notes Iliè SlatemL FtsrthE year endEd 310Ecember 2024 19 5tatementof At l JrdTruary 2024 lfttomlr ke50Ufces expended Met £alns and tsénster5 At al Oecember 2024 VE5ouiie5 De5iBfb31ed lund518roup Ind £hJFityl At4U i51ti¢(klC¢fts¢Trr•%lon lund H lstOTlt VphlclÈ collectbn 7,141 iry) 7,141 3.666.150 {36,) 3.694.650 Ma5terpkn fuThd F Ixed &55Qt5 f ufid StialeElc Plan 235,351 3,018,424 169.415 {33.6211 148.3971 201.750 2,970,OZF 193.947 24532 Y,Q90,4al OY,131 (iio.oioi 7,U61,Y35 General fund5 1,181,835 2.968313 13,395.253) 754,895 TDtJl UnFortFlrtd A.278.2lS IKIDupl ,057,445 13.512.271) 7,821,490 JJThrpEtrl¢*pA fikrsAs 4.??3,3?A lthatlry) Pdoy 52
IA compJThy limlted by 6uJranteel r4ote¥ to fIn¥I¥l For the year 31 De(•ambwr 2024 15 statement of fund5 (contlnu8d I l JhuJry 2024 Reutel expended r4et galns and resouries Deiembei 2014 Ro5trirted fund5 Igroup and charity apltal fund5 iallqvt colltttio Shell t015ec1lcn olden Arr(wJ IItstr1tFtirt fund 04¥ire3ch Pfogram Iur¢l IAolor CyclE GJllEry v 212,(XXI S34,AlXI 2,157 212,fm 2,157 5,891 89.494 5.891 76,?lQ {12,784) COYnc ilrn and 10 Cur3tk)n 5toam Cor 'lnsplralcm" 8,?fj9 .541 10,434 13,46(1 ?,4?9 198.78B 18S.thI (1.7531 I1,4) (1,?811 EquilTrent lapttsp Gr&ht IhlelcoTrie Fand Qi ivi Ildl •LNi od11[V 1,353 16S,2SS ¢3611 30.CrfXI 199,255 I.4> 2)9,9 Tli, Age5 ol Exhibition fvnd5 sp11 ILwyl5rtbpn fun 2(vJ,•)g 4,799 qn )aA 4,742 io,opo 7,949 &n,n4? 4,742 i¢,( 11,497 (71,[1> 5teaN Gir "In5pliatlon" w[hop Su<¢flon V13n ttt rdrtd&v Himoshlie Ahe Yrust ijtfj liilei Fi>1 Ilp f uii Th4 ol MthtJNirlè NhlbliloM 7,5B3 9,100 2.$29 17, 5631 12.S295 14.7701 ¢17.W3> ,IOD zyo s10 5.01 17.001 LI2IA38 532.4S6 (122,947) L9Jl.817 To**1 luttds (traLP) (a.646. 2J11 gi.4Jl.g37 Total fud$ leharttyl 9.405.16 3.418.24 ¢3.45Q.95 11 .a72.45a Pasc 53
IA Lompaiiy limiied byguaraniee) NcrtL4 lh st•i¢thèrfs For thE year ended 31 DEcembEr 2024 19 stateTrEnt0f tund5 {contlnuedl Pl)t >ér It)tomlni wesDurce5 Res0e$ expended Net £a1fft5 and transle15 At ai December 2025 fld4 (groLtp aThd IhJrlty} A¢lui$ti¢nlCOh&tfvlll¢rt fund H&loilc Vphlcle CollettiDn Mwq14fglan futbd Flxed a55et5 f uTrd stTrdlèÈl¢ Plrdn e1C1pMent fuTh 7.141 7.141 3,559,ISO 1071 3,r£4150 302.595 3.067.020 169,415 (33,6221 (48.5961 (33,6221 255.351 3.Ql8.424 169,4L5 7,105.321 lQ7,iJXI [82.218) t33,6221 7,095,481 35a,SY3 2,995,Y91 13,23S,896} 68,367 1,1$1,&35 Total unM5tplctod ld5 8,4$8,891 {8FoupI 13,518,114) 34,74S Z,953.770 13,17Z,0g01 34,745 8,2ZJ,JZ4 leh•¥hy) P41¥ 54
Tht NètiQTwI MrDt¢T Nifu5oum TTUSt LOThfrted No5 to the nnanElal $teen lor tho $1 ZQ34 15 Jtitement of tvnds (roned) At l Janvary 2pts Re50uI(e5 ¢ptnded l¥et AtJi D•¢•mtsiY 2tr21 transfers Rostrkted futb& Igmup (4pll&l GDlden ArrDW Rest•[1)rt lurtd ulie3ch Pio8f4rn fund IAotOT cy(lÈGaIbry Ivn Arts Coun¢ll D¢sIlThatTh Fllrn and VTrdeo Cufatlon Sle8m thi"Insplrallon" IlectlLln C&re EquipThJant LIPIOQ Gr•lll LAllou¢ Collectlo Welcarne 2.457 2.457 S,891 102,278 112,7841 89,4 10,043 17.450 11,914 tS.2SÈ (1.2741 (1.909) 11,4XI) (1.7) 8,769 IS.541 10,134 13.4 1.713 212,4)Q) 2(X).O(x) {360) 1.351 112,(KXI 1fj4,24 {34,744) )34,8(YJ J34,84XI Sm411 AGq¥61ilon Re5Loiallon fund 6,210 37.249 4.741 ,2?0 56,991 110,681) (3.992) 4,799 ,24È 11,74,Z io.rx Worè%lop Suc¢e%%4 Plan Audi&nt Devtltspmtrtt Iyno rTE fllrnEFay kllk ljuildfrt NM M T publl>hliiu Kr4111 Th4 of XhIbrtTr io.th 37 <371 (74111 S,012 &27.250 62%.4fJfi (.1&07I1 1.14.74.41 1.IAIJ14A TfitA flind4 thr4xipl 1,7?4197 Tot knnds lthar&tv) 9.034,149 3.579,17S {3,208,1621 •.AD5,1 s¢SS
Tho Platkonal Uhii1¢O IA EompJny Ilmlted by 6uJranteel eSto thE flnanital ¥lattyn¢nls FOI the ypèar 31 De(ember 2024 IY lunds 111[1ued) Fud d41P1sg Oesfillied degttSptbon The Acquisition ConservBrion Fund Is a de518tted where intCJmQ the s&le ofcollebQn IS olloratEd lo ac4ulrE new collccEiDn5, covEr LDnsErYation costs lor exisllng Dnes, or make IMPrryeffj In Th¢ Hlsttsirf Vehl¢l¢ Colle¢tlofy tyrtS¢Ol$ ¢ht hisiol¢ trthl¢ltl èwrtèd thè Chè rity htld foi lortE term d15play purpDSe5. 'MDtorlFVd Into the Fulur¢' Is ma5t¢rplan lo d¢llver tal Inw¢51m¢nt In Infv•5lm¢tiir¢, d15pIoy. it1tÈrwa[lDtt and learnln8 pr(Ivi51on at thp NMMT ThE FtKod A$5et De51En3tpd Fund h35 been Set up to reflect those a55Pt5 hold by ihp chalky th3t wor ¥rqvlred prevkjuslywrth ieslrlctedfufyds and Iwe beoncapitalpsed.These aropr1n(ipailyftkne Tiust Contre I ho pigs¢rwglion ofnTro¢or h15tory_ Th Straio8lc Plan Do4pÈlopin@nl FyTrd rqpro5onts 4fflouniS qlonal@4 ¢ho Trvsioes for speclfK SIIp1401 dcytlopmtnls Dr plert5, The Irv51eE5 are currenlly forrnu1ali1 the on8oln£ stralesy and th fund will b2 eyp¢n4ed on IMplNieIl1 Iht ¢h•r4et6 wlth the Golden Arr(¥kV Land Speed Recofd car. ThE Outreach ProR Tam Fund Is for the crealkbn and Malfilenan of an educat101 exhhbkt5 loan bom. ThE mot CYd2 Gallery Fund Is for the creat&on of a new fflotofcwde ploneei RaHetv hn the Trausem. ThE Art5 Councll Deslgnatkjn Deve14)pment Fund Is belni used for co11val10n of Ihe PerLV Lambert Tll<bn4 Silk), Ili¥ Ll Y1vIl uf 2 iYy13Ld diiLI tliv 1111¥ uy ul PYILY Ldiiibvi I diid ILUIB uf Se&l Ltlsyldys. TliE Flliii diKI VILlw Cuidttuii FuiNI Iyi re4u1yri11i Ivi tl•E Filiii & V6deu LJJI di. T1 51¥aill ié I I'll[)[1111.l Ivinl IJ tv bÈ u)ed iiivuibt Sl dl t1111 Ivvyl. Tlie 5ledlll Ldr t[lLa dlsplswl ilie new lty¢tre ih &htf4hte to the Lhd spéa RÈeotd arfea. ¥he ¢olk<ilon ¢ère fLt4)d 1% ihe of sta+)d•Ydi ol t4fe eolltthrti In tboth The Museum aThtl Collecilotbs CenTre. as part ol an InTegral pTogfarnme_ The LapTOP for rr equlpmeni alkwi some STafl To work efflcnily Irgm home_ Lallque Coifecilon fund Telaie5 10 gran15 used io purihase of ihe Lillque mast0 Collecilon. The Welcome and OrFentatlon 6allery lund Is a grani Itom DCMS Wollson and lIeTIeS ImgtOvtthEnt Fund tE:tOJtitpTr *1 tht tnlrance canopyi dooff wclctsffic afc d ihc NTrATrAT Pase S6
IA I11[e by¥uaidWIj
Notes iotho Ylninclzl staènIS
thE year inded Ji EmbEr 1024
19 statement of fvnd5 IionlinuvLI)
Ilb¢ tre5k fund fi5 io be used ¥&1ft51 ¢he w51 ol a new V15hyr Wekom¢ De51 In the thIu5¢um.
Sh¢ll
Thè NJtioMal *t YMIt Llfftlted (A (KpanY litniteGI by ¥u&rllee} For thEyezr endEd JI DecembEr 2014 ZQ Analy5 of net a55et5 bEtween fwid5 Restrlcted luTrd5 2014 Ilnre5trlcted funds
024 Totsl Re5trlcted fuhds Unre5trlrted fvk)d 1921 I0% ?cfta InlangiblE lixed sstis TnblE [ed 355Pt5 71.363 71,363 1.770 1.7 1.116.673 7,533.062 .&19,734 G211.Q66 7,659,781 8.279,848 Inve51ment propqTty Current aSSEts Jt7.( 317.000 I7.C) 474,675 357.421 1456.3561 882,996 (456,356Tr 561.712 578,391 (278,628} 1.14Q,164 (27462SI wlthlfi orle year t,S$1,347 9,413,È37 8.278316 9.460.151 li p4tysl¢n ¢•mmiim¢tyrs The grou p 0rateS a defined Gbnttibut•Dn St. Thè ès$Èt$ ol ¢h $¢ht •tt b.eld strIte1 Irom tlbo¥¢ ot the gr(wp ID An Indep¢nd¢ntFy hdmln15l¢r¢d fund. The p¢n51on 105t chaf8e reprE5ents contitbutiQ115 payablE bw thp 8rrHip In thp liinA aThrl xrnraiinipd tn ¥?K,£ifi (?n??.. i?1,4771. [nIrshU1hrtt trtlxlllhu [.%.r% Ijoii., £ii,gllJ WEIE payablE trJ tfv fijnd at thB sheEt dato and In¥lvdYd In 22 Tnisléos. rernuner&tlon Tiustèes dts ntjl r2eE444.h IMI reMuTherallon thelr sepJlces. Expenses totallln8 £58312023: £495) weie i¥I1Tibyi>d W liuJlEEJ Iu LINVI Iidvrelliri¥ dilEI Juts>l>LEiiie, Dulli¥ tliv yY#i tliÈ Ll léi Vi'vldèd llidtlllIlY In5urancq to cDvqr ail it5 tn15té5 Urtlér th5r éutitrl ** tvJ%ttèi al a colt 01È2.6IY120Ja.. Éa.iYa). 23 A¢latc41 party tra n5ati10Tr5 DUfln6 tht poi'lod tbt 6woup ¢nior¢d 1 Iht ir•nsact&ons: ¢xrludln8 VAT wlth r21bttd wrtlEJ; 8eaullEU EnÈefPrt5E5 Lknlied IBELI ha5 lfve dlreGiot5, Two ITv5tEt5 gf Thc Nothjtwl Nltjlgi Tiy¥l 4r¥ dlyttlort Kpl DEL, One fuYlhY dwertor of #EL a fimll¥ rn•ml>gr of th9 tvlp tru5ta•s whD A kD p¢wrs ol IIE'L 2024 202a SEr4pltes prvrfldEd by BIL io tht ch¢ity nbuuhed io PTovld94 thg ¢h•rFty lo BÉL anNnId io Adrnik%lrJrt irt<ttrnp ilk)tJhted tts NMMT litsrn BÉL 2k43,4È? 376.769 2.eA2351 2,gSS,trJ 1.932.El)5 58
Ihc Nitlunal MotlJr Mu5oum Trust Llmited IA cgmpaw IlmltrAI b¥ 8uarantwl Notf 5tsJ finaTrtial 5tatomenrs For ihe vvor ¢nd¢d 31 g¢¢ml>¢r zu 2a R¢lBW p•tty If411$9¢¢10rts (¢i>il¢ltsveO ThÈarrtèufil 4)¥¥Ed to the BEL froth thE ChBTitv at Ihèyeo.Èrtl OTnDUtrted lo £127,15612023., E26.655) of whlch • b¥17dMc¢J owtd of t.490,6681202J: f.3,fy)81 Is htld wlthln irJ4Je debtoys l7nCe rJl £3[A.s (2023.. £19,536}15 hpkl whhln tf3d@ credltor5. 8EL alw rqrhAr8oO ¢nll12013; 18.0341 kfj rÈlallpn io peftslpn wntflhullon5 Wi?If of ltyq 8TII¥FP. Tere are no arThDunts Included ln 1he balance sheet In relat)n to tttls tran53Cti(In. The £harlly also efttered Into lotlowkn£ IranSaCtlI1$. ethdlr4 VA Y an 0cla¢e of Èehulle EierPrISeS Limited ihe perkKI. The a550tiale, VJnta8e Tyte 5upplle5 Llmiied ¢vrsi1s control ol BEL. 2f124 2023 ServDC¢S VYS IQ Ihe cl111¥ l• 5ervKes PIDvided by the Chatity to vr5 t X,992 3 1.787 17.455 Thp owed to the Charliy by vrs at the yeaf-Ènd amountod to £24.860 ¢2IJ23: £17,9e15}. DurlThE the year vustee5 dofiat¢d fuThds of £19.626 lo the charlty {2023: £2¥.862}. Latd Matkta¢u al BÈaufith ThH 6roup ail thq kna54hokl propgrtiV5 trom thg privatq QStat ol Lord B4aulizu. Th4 ien141s ptybbkt On ihcSE prOp¢ll$ iht Irlse a8retmtDI •re peppecorn, •MI ibereftye ne8lible. DutlnR the Tr2TIDd the Rroup enteied Into the lollowlfw I tan5artlons, exclvdin£ VAT wllh the private e51ate Df Z014 Sep4rkes wded by ihe estsle to the tharlty sMouTrted t ai. llimovfjl owed to the •6t•l¥ bv th• ¢haffty 4t the ywr4nd, wlthln crg4ltor, wmount4411%7 £b.I IJ IIUIJ: .11). 14 Cvnliol The <hofiry1s (onifolled by tts iyWiees a¢ilng lfi •¢¢oYd&nce wlih ihe ieim5 01 ibe menKJigll¥um Ancl P•8e J9
Thp ba3tlonal Motor Mu5euThTrust Llrnltèd IA compan¥ Ilmltod tsy 8uarant¢¢l Ncie5 to t4TraThtl 5rawiienis F¢r thè vur 31 D¢¢tmb¢t 2924 25 41$ 4)f ¢h•rys¢s lfj nrf 4¢ty1 Currenl year Othef TrW.¢7dsh chany5 31 De¢emb4r 202 sh flow5 Cash In hgn 749,995 ¢439.997) 749.995 1439.997) 309.998 Prknr yeoi BalaThce at l J¥yry 2023 Othtl 0.¢•b £hange5 BalJnEE at Cash flows 2Q23 Cash in hand 1,231 (iJ,236 940.231 (11.236 749.995 P•8¢ fj