Company number.. 04780380
Charity number: 1107809
The Story Museum
Accounts
for the year
ended 31st March 2025
Wenn Townsend
Chartered Accountants
Oxford

The Story Museum
Contents
Page
Trustees, Annual Report (Including Directors Report and Strategic Report)
Independent Auditor's Report
12-14
Statement of Financial Activities
Balance Sheet
16
Statement of Cash Flows
17
Notes to the Accounts
18-28

The Story Museum
Trustees, Annual Report (Includlng Directors Report and Strategic Report)
for the year ended 31st March 2025
Legal and Admlnistration Infomiatlon
The full name of the company is The Story Museum.
The company number is 4780380. The registered charity is 1107809.
The Trustees that served during the year were as follows:
Mr Brian Buchan
Mr James Catchpole
Ms Maggie Farrar CBE
Mr Guy Gadney
Mr John Glancy
Ms Gabrielle Heffernan
Ms Katherine Howard-cairns
Ms Caroline Jones
Ms Sarah Love
Mr John Palmer
Mr Andrew Ryan
Ms Kate Sayer
Mr Tim Suter
Ms Patsy Townsend
Ms Shirin Welham
(resigned 18th July 2024)
(resigned 23rd January 2025)
(appointed 7th November 2024)
(resigned 181h April 2024)
(resigned 23rd January 2025)
The office address of the charity is 42 Pembroke Street, Oxford. OX1 1 BP.
The registered office is 42 Pembroke Street. Oxford. OX1 1 BP.
The company's auditors are Wenn Townsend, 30 St Giles,, Oxford OX13LE.
The company's bankers are Barclays Bank plc of Cornmarket Street. Oxford, OX13HS.
structure of Governance and Management
The company is limited by guarantee. The charity is governed by its Memorandum and Articles of Association. The
Board of Trustees delegate specific areas of business to the Finance and Estates Committee including scrutiny of
the budget, accounts and financial policy, as well as management and maintenance of the buildings. A General
Purposes Committee meets prior to each Board meeting to oversee the agenda and address arising operational
matters. A Nominations Committee meets regularly to advise on appointments to the board. Directors of the
subsidiary Trading Company meet bi-annually. The procedure for the appointment of Trustees is set out in the
Articles of Association. Trustees are elected to serve an initial three-year term which is renewable for a maximum
of two further terms if served consecutively. Newly appointed Trustees are offered induction and ongoing
engagement in Museum life through events, observation, committee attendance and by aligning with certain
strategic areas of the business.
Objects and Activitles for the Public Record
The objects of The Story Museum are to advance the education of the public in relation to children's literature and
the history of the City of Oxford. in particular by:
a) establishing and maintaining a museum dedicated to these subjects.,
b) conserving, interpreting and developing collections and heritage assets relevant to children's literature and
the City of Oxford.
c) Providing leaming opportunities for and promoting literacy and creativity amongst children. young people
and families.

The Story Museum
Trustees, Annual Report (Including Directors Report and Strategic Report) (contlnued)
for the year ended 31st March 2025
1. Introductlon by Chair
This year has been a vibrant one, full of creativity, community and commercial ingenuity. From the arrival of a
Dragon hoard in July to Cinderella selling ice-creams at Christmas, the Museum's story-led creativity and
playfulness has shone through. Ourwork in the communitywith local schools, family centres, and youth groups
deepened through extended collaborations, some of which ran over three years. We also successfully
balanced commercial ambitions with our charitable purpose, whilst practising necessary constraint in
financially challenging times.
As the Museum continues to navigate an ever-evolving cultural and economic landscape, we have been
listening to our audiences and leaming from the broader cultural sector to find the best way fomard. For some
of us, that has meant the decision to step away and for others, we have hardened our resolve.
From the fond farewells of longstanding colleagues and Trustees. to the warm welcome we offer new arrivals.
we have navigated these transitions with kindness and a shared sense of purpose. I particularly want to mark
the outstanding contribution of Tim Suter. my successor as Chair of the Board, who oversaw the Museum's
capital redevelopment. eventual re-opening and the first four years of operation. Tim always held a firm belief
that everything was possible.
Caroline Jones will step down as CEO of The Story Museum after 10 years of dedicated service. Throughout
her tenure, Caroline has provided strong leadership, demonstrating unwavering enthusiasm and commitment
to the museum's mission and development. Her hard work and collaborative approach have significantly
strengthened the museum's operational stability, enriched visitor experiences, and positively impacted staff
and volunteers alike. Caroline has consistently offered invaluable support to the Trustee Board, for which we
express our sincere appreciation and best wishes for her future endeavours.
I would like to express my gratitude on behalf of the Board to our outgoing Director of Finance. Maria Quantrill.
Maria has prepared the 17th set of annual accounts during her long tenure with the Museum, and it's no
exaggeration to say that this accomplishment would not have been possible without her dedication and
expertise.
Our friends and funders have stepped up again this year. for which I would like to say a huge thank you on
behalf of the Story Museum. So thank you to our colleagues at Arts Council England, Oxford City Council,
Oxfordshire Cultural Education Partnership and The National Lottery Heritage Fund. Also to the 80-20
Charitable Fund. CHK Trust Emmanuel Kaye Foundation, Helen Roll Charity, MacFarlane Family Foundation,
Oxford Centre for Fantasy. Charity of Thomas Dawson, Woodroffe Benton Foundation and our longest
committed donors, the Maggie Evans Foundation. Support from our corporate partners
including 3Keel
Group Ltd, Chooseco. B4 and Great Communications-was also most welcome. Finally. an enormous thanks
to the two major donors over the past year who prefer to remain anonymous but who made a monumental
difference when it mattered.
I write this forward less than five months into my leadership of the Board. During this time, I have received a
warm welcome from everyone at the Story Museum. and I have enjoyed and been inspired by my interactions
with staff, trustees, visitors and partners. While there may be challenges ahead, l am confident that together
we possess the energy and skills needed to navigate them successfully and continue our mission of enriching
young lives through stories.
John Palmer, Chair

The Story Museum
Trustees, Annual Report (Including Directors Report and Strategic Report) (contlnued)
for the year ended 31st March 2025
2. Dlrectorfs Report
This year, we pursued our goals across creative. community and commercial goals while continuing to adapt our
business model to an evolving cultural and economic landscape. We faced significant internal change within the
period, including the succession of several longstanding senior staff and Trustees. as well as external economic
pressures. We rose to these challenges with characteristic determination and positivity and ended the year with a
lot to look forward to,
l. Sharing great storles In great ways through our publlc programme
We explored 1001 stories over the year. through our exhibitions and events. schools programme and co-creation
work, reaching 88.000+ people with our public offer and a further 15,000+ through targeted participation and
outreach work. The three words most used in visitor feedback over the year were Fun. Interesting and Creative.,
this has been consistently the case- along with 'Magic' and 'Enjoyable' . for the past 4 years.
"Our visit to the Story Museum in Oxford was an absolute delight for the kids. The interactive exhibits and engaging
storytelling captivated their imaginations from start to finish. This place offers a unique and immersive experience
for young minds. The museum staff were friendly and helpful. adding to the overall enjoyment of our visit. If you're
looking for a fun outing for kids, the Story Museum is a must-visit destination in Oxford". Google Review, April 2024
In May, we introduced a new and much-loved story character into our pemianent early years gallery. Small Worlds.
Elmer the Elephant stars in a new play area. designed by Rebecca Lee and co-created with families from the Berins
Centre. one of our community partners. Early years. learning and development goals are integrated into the space,
capturing our core value of 'being seriously playful, and enabling very young children to learn key skills through
sensory play. Elmer has fast become a firm favourite with visiting families and nursery groups and we are grateful
to our sponsor Andersen Press.
"Small Worlds is my toddlers happy place, I'm very excited to see the new spacel And such a cooljob and area of
expertisel So much talent and enthusiasm goes into every corner of the museum, I love it." TripAdvisor, April 2024
In July we opened a new temporary exhibition 'Here be Dragons, co-created with leading children's author Cressida
Cowell and featuring her much loved character Toothless, alongside many other dragons drawn from different
cultures across the world. Visitors are invited into a dark and mysterious cave of dragon lore. where dragons have
kept their treasures and stories for thousands of years. Designed by Amy and Tina Bicat and built by our in-house
production team. Here be Dragons epitomises the distinctive Story Museum approach to design and interpretation
and is also one of the most complex exhibitions we've done. Presented in an immersive environment are 42 object
loans from 15 different Museums, archives and individuals.. 10 newly commissioned art works from diverse artists"
many interactive games and activities. stories to listen to, read and watch,. and lots and lots of dragons! By the end
of the year c.34.000 visltors had enjoyed Here be Dragons, and the exhibition has proved so successful that we
will extend it through 2025, with the support of key partners Hachette.
Dragons have also proven a rich theme for our events programme which as usual combined performances,
interactive workshops. regular clubs and talks aimed at various age groups. We presented a total of 180 different
events, featuring 157 different speakers, authors, performers and musicians. for an audience of c.6,900 people
over the year. Highlights include Professor John Holmes recreating a lecture given by J.R.R.Tolkien in 1938
entitled 'On Dragons, using Tolkien's own illustrations as part of our Hobbit Day celebrations in September: King
Arthur's Knight School led by John de Vere, the 7th Earl of Oxford (b.1312) in February half terrn; and a talk on
Dragon Brains in October half term. in partnership with the Wellcome Centre for Integrative Neuroimaging and the
IF Oxford Festival. Our huge thanks to the Oxford Centre for Fantasy for their support in presenting the Dragons
events programme.

The Story Museum
Trustees. Annual Report (Includlng Dlrectors Report and Strategic Report) (contlnued)
for the year ended 31st March 2025
Other event highlights include the Christmas show 'Cinderella Ice Cream Seller,, created by longtime creative
partners Liltle Seeds Music. the show was of a particularly ambitious and high standard and received very well by
family audiences at the Museum before going on tour around the UK. Tiny Ideas, the Early Years Arts Festival from
Tiny Light Theatre and Wild Boor Ideas, returned for a 2nd year celebrating 0-6 year-olds and the creativity they
bring to the world. Regular guests David Gibb, Lucy Walters and Emma Boor presented their story-based musical
and sensory shows on Saturday mornings for younger audiences. Gratifyingly. the artists who work with us as
performers, partners and on commission enjoy their collaboration with the Museum, with 90°/o awarding us 9 or 10
out of 10 for their overall experience
"I went for my 31st birthday and myself and my group had a wonderful time. Most notable was the people working
there - everyone had such passion and dedication, you could see how much they loved the place and that was
delightful to see. Would absolutely recommend to any age group or interest - even my IT maths dad loved itl"
Google Review, June 2024
For adult audiences, our ongoing residency with Crick Crack continues to draw full houses every month and has a
growing international on-line audience. Our Museum Late events continued through the year with a 'Dungeons and
Dragons, theme at Halloween and a Burns Night event both proving popular and bringing in a new audience to the
Museum.
Towards the end of the year. we were well advanced in planning for our creative programme over 2025-26 which
will include a new permanent exhibition to replace City of Stories, a refreshed Enchanted Library niche to celebrate
a major anniversary of a much-loved title, a temporary exhibition led by young people and opening in Summer
2026, along with the many other ways in which we seek to keep the visitor experience fresh. fun and relevant.
Enabling learning and wellbeing outcomes for school children and young people
Our paid-for schools programme engaged 11,735 children and teachers from 134 different schools across 215
learning sessions, with 98 % of teachers rating the sessions 9 or 10 out of 10. The many messages of thanks
received following a school visit often name individual members of the learning team - Kay, Lucy, Emily, James
and Naomi- to praise their skill in engaging the children and inspiring them to learn. Booking rates improved across
the year and return rates are growing (44 % ), despite the widely reported budgetary and other challenges for
schools,. our state sector engagement is holding up at 77 % of total school bookings. We continue to underline that
the Story Museum's learning offer is very well aligned to the literacy and oracy curriculum. as well as to the overall
social and emotional wellbeing of children. which makes a trip to our Museum a fantastic accelerator to learning
across the curriculum. The learning team's expertise in story-led learning to SEN groups deepened over the year
as they devised and delivered bespoke sessions to make their programme accessible to all: they will be building
on this important area of their work going forward.
"The children listened and engaged in the sessions beautifully. It has been amazing to watch how the children are
able to participate in retelling a story after only hearing once before". SEND Specialist Teacher from Oakwood
School, May 2024
Alongside the paid-for schools offer, the same learning team delivered several funded programmes designed to
promote literacy, creativity and wellbeing in the early years and through primary school, for our local priority
communities. In 2024-25 (crossing two academic years) we engaged 2,449 children and adults through this work.
most of whom were new to the Museum, therefore extending our reach.

The Story Museum
Trustees, Annual Report (Includlng Directors Report and Strateglc Report) (contlnued)
for the year ended 31st March 2025
We delivered the second of a three-year, funded early years programme - Start with a Story supporting 251
children and 150 adults at four family centres, building vocabulary and confidence and thereby contributing to
school readiness. The programme responds directly to the need for early intervention in literacy and oracy skills to
narrow the attainment gap between disadvantaged children and their more privileged peers here in Oxford. Across
39 sessions. the team delivered immersive storytelling sessions, provided resources for parentslcarers promoting
school readiness. literacy, and oracy, and gifted 100 quality picture books to participating community centres. The
year's increased focus on supporting parents and carers was warmly received with 150 adults attending at least 1
workshop on topics such as reading. resilience, and oracy. We are grateful to the 80120 Charitable Foundation for
their ongoing support of this vital work.
Our Spellbound Schools programme is supported by several funders including the Evans Family, Maggie Evans
Fund, Emmanuel Kaye Foundation, Charity of Thomas Dawson, Helen Roll Charity. Virginia Ross. the Amazon
Literary Partnership and the Pye Charitable Settlement. Through their generosity, we provide a year-long
engagement to seven partner primary schools, selected for a combination of underprivilege in their communities
and motivation to engage with the power of stories to create change. For the Academic Year 2024-25, the schools
are Pegasus. St John Fisher, Church Cowley St James, Bayards Hill. West Oxford, Rose Hill. and Barton Park
Primary Schools. Activity includes Museum visits and workshops. storytelling sessions and resources at school.
CPD for their teachers and £1 entry for all families to return. Outcomes for our Spellbound Schools include
significant change in previously undermotivated students, students and teachers gaining story telling skills and
knowledge of stories from a range of cultures, traditions and genres.
"The school visits and in-school storytelling days alone have been wonderful. and each class has now experienced
the 'wonder' of the museum. Parents and families have also begun going to the museum independently, as discount
tIGkets made this possible- something the vast majon'ty of our families had never done before.. Paul Higgins. Head
of St John Fisher Primary School
Spellbound Schools incorporates 'Extreme Reading,. a 6 week programme for reluctant readers run by the Story
Museum for the past nine years. including a quickly devised remote version in 2020. Schools refer children they
feel would benefit from an intervention in their reading. and we bring them together in a series of exciting story-
based adventures to help them get past the barriers they experience to reading. We arrange transport to the
Museum, provide lots of support to encourage family involvement and culminate with a special celebration forfamily
and friends. We ran Extreme Reading twice in the year for a total of 40 children, and as ever. the positive impact
on their independent motivation to read was reported by parents and carers.
My child has suddenly become interested in going to the library at her school to check out a bookl It's like you are
working some kind of magiGI: Parent of an Extreme Reading participant
The Story Exchange is our Paul Hamlyn Foundation funded partnership with Oxygen (Oxford's Cultural Education
Partnership) and is exploring how stories can support the emotional literacy of primary school teachers and their
students. Year 1 delivered intensive training and development to the 14 participating teachers and Year 2 is testing
approaches in their classrooms whilst extending the peer learning aspect. Leamings so far include the positive
impact of developing emotional vocabulary through oral storytelling, the value of longer term partnerships, enabling
deeper relationships belween partners and the possibilities of supporting the embedding of storytelling skills
throughout a school curriculum. The project has the potential to impact thousands of primary students beyond
the 460 students involved in these initial stages.

The Story Museum
Trustees. Annual Report (Including Directors Report and Strategic Report) (continued)
for the year ended 31st March 2025
"Without the pmject. I don't think I would have had the confidence to cascade to my colleagues and try new things
for both PSHE and oracy. Now I'm very keen to share how to story tell with others. I love stories, l always use them,
and I feel a lot more confident. I feel immense pride." Year 3 Teacher, May 2025
Outside of the formal education system and aimed at older children, we run Story Shapers providing creative skills
development through weekly after-school sessions and holiday courses run by our creative programme team. This
year 157 young people aged 11-16 developed skills in curation. design, production and collections and the results
of their work can be seen throughout the Museum. On the interpretation labels in the Enchanted Library, in their
human-sized board game - 'Snarks & Riddles.
inspired by the work of Lewis Carroll which debuted to visitors
during the Easter holidays and will 'pop-up' regularly in the Museum. in the reviews and responses to our 1001
collection which will feature on our new 1001 Stories website.
Overcoming barriers to participation to reach the wldest possible audience
Access and Inclusion was beautifully integrated within the Museum's offer across the year. For example, our Week
of Welcome for 37 re￿ntlY arrived refugee families in August and the 2nd Access Friendly Day in September for
167 people. both bringing targeted. priority groups into our spaces with the Warm Welcome that the Story Museum
is known for. Additional interpretation. activities and an adjusted environment (lights up. noises down) ensured that
these groups were included along with other public visitors simultaneously. We distributed ten times as many
Dream Tickets (£1 to all community participants and their families) this year compared with last, 2,445 in total, and
fulfilled 65 bursary places on clubs and courses. We also hosted two Half Price Entry days over the year to
encourage children and families from our priority communities to access our programme for the first time. Together
these initiatives demonstrate the Museum's commitment to access and inclusion.
"l just wanted to email to pass on my thanks for organising the Access Friendly Day last Saturday. My 2 boys
absolutely loved spending time in the museum and especially playing in the small wortds area. We would not have
attempted to bring them on a normal busy Saturday as it would have been too oVe￿helmIng for them. My 8 year
old was very anxious about coming but as we left he whispered "I loved that Mummy" which was really nice to hear.
Thank you to all the staff and volunteers, everyone was so friendly and welcoming. We look fO￿ard to supporting
any fvrther access friendly events you hold in the fvture'visitor feedback via email February 2025.
Our Digital 1001 project
supported by the National Lottery Heritage Fund - ran through the year putting young
people in the driving seat of a new public digital offer for the Museum. Nine young people from Larkmead School
joined a five day 'design sprint, in July to develop the concept and brief for a new website. and 17 young people
from Yellow Submarine (a group for people with disabilities) and Greyfriars school met for weekly facilitated
workshops to design new narrative-based video games for sharing in a new exhibition. The 80+ Youth Collection
Ambassadors have also contributed by researching and responding to the stories and creating content for the new
website.
These activities exemplify the way TSM build our targeted, mission-led work into the public-facing Museum
programme, to ensure that every child sees themselves in the Museum and feels welcome.

The Story Museum
Trustees. Annual Report (Includlng Directors Report and Strategic Report) (continued)
for the year ended 31st March 2025
Belng brave and resourceful as we adapt to changing landscapes - inslde and out- including
plans for future perlods
Early in the year, the CEO initiated an external business review led by consultant Susan Royce. This work
proceeded over several months involving data review and extensive discussions with senior staff and Trustees,
culminating in a report and recommendations in September. The reportwas emphatic in its assessment of the Story
Museum as an important, innovative cultural organisation with a laudable vision and values. It was also robust in
its call for change in the business model. citing vulnerability around public and private funding combined with
unavoidable fixed cost increases. In response the Executive team undertook several months of detailed modelling
and costed options appraisal, iterating every budget lever to model different scenarios around sales, footfall and
pricing. This included a review of ticketing and gift aid, including commissioned audience insight research from
Silversea and consultation with several cultural venues and visitor attractions. We also looked al various options
on staffing models, opening patterns and new business opportunities.
Eventually, with the support of the Board and in light of simultaneous staffing changes. they opted to sustain the
existing mixed business model, streamline the existing senior team and reduce activity levels. This was to stabilise
the organisation and make way for new leadership to arrive in 2025 to assert a new, bolder vision for the future.
The Executive prepared a programme and a balanced budget for the year showing reduced activity, changes in
operations and reduced staffing costs achieved through natural attrition. Despite subsequent and unavoidable
increases in employment costs, we started the new fi'nancial year with a balanced budget and an ambitious plan
which will need a fair wind and every ounce of the Museum's potential to succeed.
Running alongside the strategic process outlined above, the Story Museum ran its day-to-day business as usual
and was open to a paying public for 324.5 days of the year. We welcomed 76,000 paying Museum visitors
generating £551.331 through our box office and £214,357 through secondary spend in café and shop. Our paying
schools, business run through the Trading subsidiary provided £64,308 from 215 booked sessions. a slight
reduction on the prior year partly to do with reduced capacity in the team for parts of the year and also indicative
of the challenges of providing paid-for arts experiences to hard pressed schools. A further. fantastic £192.406 came
from commercial activities such as hires (language schools and local businesses again proved solid customers),
weddings. events and consulting., this was a 7 /0 growth on the prior year and demonstrates the impact of careful
planning and delivery from the commercial team. Earnings for the year totalled £1.022,410 and represents 420/0 of
tolal income for the year. New investment in the commercial team and a renewed focus on sales within the
Communications team will develop this potential going forward.
In the Museum's mixed model, fundraising represents a significant proportion of total income and relies on a high
impact, compelling mission-led activity with communities. This came together well over 2024-25, enabling the
Development team to secure £1.343.156 in grfts and grants in total during the year, including £231,133 operational
funding to support future years and gifts towards the 'Repairs and Resilience, capital project for delivery in 2025.
The Emmanuel Kaye Foundation renewed their support of our Spellbound Schools programme alongside many
other contributors including the Evans family, Virginia Ross, the Amazon Literary Partnership, and the Helen Roll
Charity. Funders were also drawn to our creative programme and my thanks to the Oxford Centre for Fantasy who
helped bring dragons to life in myriad ways over the course of the year as well as 3Keel. Chooseco LLC. and
Usborne Books who all enabled visitors to step into stories. Securing multiyear grants remains a top priority for the
team and we are grateful to donors including the Woodroffe Benton Foundation and Charity of Thomas Dawson
for committing vital funds over the next two years.
We were again successful with the Big Give. raising a total of £18,151 from 36 donors. including local business
Great Communication, and for the first time had a team running in the Oxford Half Marathon who be￿een them
raised £4.747.

The Story Museum
Trustees. Annual Report (Includlng Directors Report and Strateglc Report) (continued)
for the year ended 31st March 2025
Our longstanding strategic priority around improving our carbon efficiency took a step forward in the year with the
authorisation of a capital project to repair and replace the most degraded sections of our roof. along with a package
of building improvements to reduce environmental impacts. We recovered quickly from the crushing disappointment
of rejection from govemment funding for the project. to secure £290.000 in pledges towards the total estimated
cost of c.£500k. Several pending funding applications are expected to cover the full cost, allowing the work to be
authorised early in 2025-26.
We believe our resilience lies partly in the relationships we have built within and outside of the Museum. This year
we built even stronger relationships within our local communities including being embedded in 14 primary schools,
four community centres. and many local cultural sector and learning ne￿OrkS. Nationally. we played a lead role in
the emerging Story Venue Cohort- a group of similar organisations. exploring what collaboration could look like
and how we might scale our individual impact by working together.
Fund-raising Standards Information
The Story Museum continued to enlist the support of a Development team during the year to raise funds on behalf
of the organisation. Their work was monitored and guided by the Executive Board in regular meetings. The Story
Museum is registered with the Fundraising Regulator and is committed to following the Code of Fundraising
Practice. No complaints were received by the Charity regarding these fundraising activities.
Governance
The full Board met four times in the year to offer oversight and advice on strategy. finance and risk. Each meeting
included an item related to the creative and learning programming as well as the standard reports required by our
public funder, Arts Council England. The Finance and Estates Committee and the Directors of the Trading
Company met regularly to review financial performance and planning. The General Purposes Committee and
Nominations Committee also met quarterly.
We align our Board reporting with the Arts Council's 'lnvestment Principles.: Ambition & Quality, Diversity &
Inclusion, Dynamism and Environmental Responsibility. These themes are threaded through key planning and
reporting frameworks. Each one is supported by an Action Group, comprising Trustees, Executive and staff who
meet regularly., their role is to shape the objectives within each theme for each year and to monitor progress.
In addition to the ongoing task of guiding the Museum through a complex period. this was a year of planned
succession for the Board. Brian Buchan, the longstanding and outstanding Chair of our Finance & Estates
Committee stepped back in July after nine years. Brian's calm, steady and knowledgeable presence was invaluable
for the Executive and the Board, particularly during times of extreme pressure. He was also an incredibly generous
donor, demonstrating his belief in the mission of the Story Museum and his understanding of the impact of
leadership giving. Brian was succeeded as Chair of F&E by Trustee Andrew Ryan. who has since ably led the
Committee and is particularly strong around the Estates brief owing to his long experience in property development.
Trustee Maggie Farrar stepped back in January. having excelled as our Education Trustee and guided the senior
team so kindly and wisely over her nine years in post. Much of the year was spent preparing for the succession of
Tim Suter, who had been Chair of the Board since June 2016. Tim was a steadfastly supportive colleague
throughout his three terms as Chair,. his faith and optimism in the potential of the Museum and its people proved
an important anchor for the Board and senior team over many years. Tim, Brian and Maggie were part of the
founding team that accompanied the Story Museum on its joumey from concept to complex reality. Their impact
has been immense, and their legacy will endure.
The Board was supported in their search for a new Chair by Peridot Partners, which concluded with the successful
appointment of John Palmer. John brings many years of experience on charity Boards, as well as a long and
distinguished career in charity communications and fundraising. Following several weeks of induction, John
formally assumed the role in January 2025 and chaired his first meeting just beyond the end of this year, in April
2025.

The Story Museum
Trustees, Annual Report (Includlng Directors Report and Strategic Report) (continued)
for the year ended 31st March 2025
As well as securing long established Governance expertise, the Board remains keen to develop representation and
encourage new voices to the table. This year, they created the position of Trainee Trustee and supported Perri
Evans to develop the skills and experience required to become a full Trustee. As a local teacher and SEND expert,
Perri has relevant professional expertise and insight to offer, as well as a passion for the power of slorytelling. Perri
was supported by the Board, in particular Shirin Welham, to complete a development plan over 12 months including
externally provided training. Her year long traineeship culminated in Perri leading an item on Safeguarding at the
April Board meeting, following which the Board were pleased to appoint her a full Trustee.
Losing so many longstanding and experienced Trustees in a short space of time could have been a challenge for
the Board, but this succession was well-planned and the skills and commitment of the remaining Trustees is clear.
They have therefore adjusted to their new shape and continue as effectively as ever in their work of guiding the
Museum. The Executive record their gratitude and admiration here.
Staff and Volunteers
There was considerable flux in the staff team over the year including resignations in quick succession from the
Director of Creative Programme Daniel Clarke {a relative short timer at only two years with the Museum) and
Director of Communications Sophie Hiscock after 10 glorious years. Both colleagues have moved onto fantastic
leadership roles within the cultural sector and their legacies live on at TSM through their creative. intelligent and
compassionate contributions. The announcement in November that CEO Caroline Jones would be stepping back
after 11 years at the Museum. seven in the role of CEO. prompted an extensive search for a successor brilliantly
led by Shirin Welham and John Palmer. A large, competitive and diverse pool of applicants indicated the Museum's
strong and successful reputation. Following an exhaustive process, Conrad Bodman was announced as the new
CEO in May 2025 and will take up the position in August.
These changes at Director level combined with ongoing financial pressure prompted a restructure of the team.
seeing the Executive reduced tojust two (CEO and Director of Operations) and senior management strengthened
to seven, with several existing capable team members taking on more responsibility with great enthusiasm and
skill. We closed the year with colleagues who were Acting into senior management roles whilst more permanent
roles and recruitments were completed. These were later resolved. ensuring a stable and fully engaged senior
team moving into 2025-26.
Our Pathways programme provides early career development for young people and this year included 6 work
experience placements, two internships and 40+ young volunteers, including those on 'supported placements, in
partnership with local SEN providers. Kindly supported by the CHK Foundation. Pathways is a concerted effort to
dtversify our workforce as well as create opportunities for young people.
The Museum ended the year with 65 people on payroll in a combination of permanent. fixed term and flexible
contracts totalling FTE of 37. Of the 90 % of staff that provided their data. 16°/o Stated they were from the global
majority, 24°/o from lower-socio economic background, 24 % identified as LGBTQIA+ 100/0 Stated a disability and
160/0 Stated a neurodivergence. Our employee workforce is therefore representative in some aspects of the local
working population but not yet in ethnicity or socio- economic background. The Museum will continue to try and
diversify our workforce by creating inclusive recruitment and working practices.
Our active volunteer pool averaged around 77 over the year with an average of 51.75 volunteering each quarter.
contributing a total 1.5 FTE to the front of house team. Of these volunteers, 72 % identified with at least 1 under-
represented group including 290/0 from postcodes with IMD 1-6. We had an average 29.25 active young volunteers
per quarter- often drawn from partner secondary schools or community organisations - who contributed a total
0.5 FTE over the year. Our volunleers are an important aspect of the warm welcome we give to our visitors and we
are so grateful to them for their contributions to the Museum over the year.

The Story Museum
Trustees, Annual Report (Includlng Directors Report and Strategic Report) (continued)
for the year ended 31st March 2025
Finance
The Story Museum's key financial and other performance indicators during the year were as follows:
Unit
2025
2,287,141
195,318
(194,589)
(319,783)
2024
1.787,728
175,284
(211,179}
(125,194)
Total incoming resources
Cash at bank and in hand
Net movement in unrestricted funds
Unrestricted funds carried forward
Total income for the year was £2,287,141. This was up from £1,787,728 the previous year largely due to generous
gifts from individual donors towards both our fO￿ard creative programme and the Repairs and Resilience project.
Expenditure in the yearwas £2,302.467 which includes depreciation of £344,743. This compares with expenditure
last year of £2,207,113. the increase falling across most cost areas due to inflation.
The £270,000 balance of our Figurative (Arts Impact Fund) loan was drawn down in May and the funds have
provided working capital through the inevitable peaks and troughs in our cashflow during the year. We are
incredibly grateful to Figurative for their support once again.
Our long term anonymous soft loan was forgiven during the year, thus strengthening our balance sheet and
providing restricted funds to support the creative programme over the next two years.
Reserves
We entered the financial year with a negative general funds balance of £125,194. restricted funds of £74,041 and
unrestricted designated funds (all relating to fixed assets) of £6,121,844. The restricted funds were all drawn down
within the year to deliver intended activities.
At the year end, total funds were £6,055,365 including fixed assets of £5.857,295 and restricted funds of £517,853.
ofwhich £286,720 has been raised forthe Repairs and Resilience project. There is a negative general fund balance
of £319,783. Our underlying position therefore worsened over the 12 months as result of the challenging economic
climate combined with lower than projected Museum footfall.
Our reserves policy is to maintain a general reserve of two months of operational costs including a low level of core
staff costs,. alongside a designated reserve equal to the expected Management & Maintenance costs for the
following year. At year end, we were not meeting this policy but continue to work towards this goal within our 5-
year financial plan.
Risk Management
The Museum's comprehensive risk register identifies c.200 risks across Strategy. Compliance & Controls, Finance,
Operations & Organisation. The register rates each risk for likelihood and impact, identifies controls and mitigations
and highlights which are most significant. This is reviewed by the Finance & Estates Committee ￿lCe a year, who
themselves escalate the risks they feel need Board attention. These are reported on at each quarterly Board
meeting. The Trustees, goal in this discussion is to reassure themselves that the Executive fully understand the
risks and have adequate mitigation strategies in place.
For 2024-25 the risks considered most significant were Failure of the financial model (to draw sufficient paying
audiences; to meet operational revenue fundraising targets., to build and maintain a level of restricted and free
reserves to meet our policy). and Failure of the building fabric through water ingress.
-10-

The Story Museum
Trustees, Annual Report (Including Dlrectors Report and Strateglc Report) {contlnued)
for the year ended 31st March 2025
Risks around the financial model msterialised within the year. Overall footFall contracted which led to missed box
office tsrgets, although secondary spend held up. The mixed model proved itself in so much as other earning
streams and fundraising were able to mitigate some of the box office loss. With inflation and increased costs
outrunning growth in income. there was little opportunity to generate the surpluses required for free reserves.
Restricted reserves are carefully managed to ensure all funding commitments are met and priority work delivered.
We met our operational fundraising targets for the year and secured significant capital investment towards the cost
of planned capital works in 2025.
The risk to our buildings from overall degradation of the roof also asserted itself, when water came through the
ceiling in several back of house areas. The capital project to resolve these and other issues identified on our
Management and Maintenance Plan is advancing towards delivery stage later in 2025 subject to the balance of
funding being secured.
Although the risk of unexpected or prolonged absence of key senior staff was not highlighted as a major risk for
monitoring, this situation occurred within the year relating to ill health for ￿0 senior colleagues. The situation was
actively managed and ultimately resolved but required a lot of resilience from colleagues directly impacted. The
planned departure of four senior members of the team within a few months of each other also presented a risk to
the overall stability and momentum of the organisation, but again these have been well managed by the outgoing
colleagues and their teams such that the Museum is in strong shape moving ahead.
Trustees, responsibilities statement
The Trustees (who are also directors of The Story Museum for the purposes of company law) are responsible for
preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. which give a true and
fair view of the state of affairs of the charitable company and of the incoming resources and application of resources.
including the income and expenditure. of the charitable company for that period. In preparing these financial
statements. the Trustees are required to..
select suitable accounting policies and then apply them consistently:
observe the methods and principles in the Charities SORP 2015 {FRS 102):
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed. subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware..
there is no relevant audit information of which the charitable company's auditor is unaware., and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditor is aware of that infomiation.
This re
rt was approved by the Twstees on 101h July 2025.
John Palmer
Trustee

The Story Museum
Independent Audltor's Report to the Members of The Story Museum
Opinion
We have audited the financial statements of The Story Museum (the 'charity'} for the year ended 31st March 2025
which comprise the Group Statement of Financial Activities, the Group Balance Sheet, the Group Statement of
Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable
in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the Group and Charity's affairs as at 31 st March 2025. and of the
group's income and expenditure. for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have b&en prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinlon
We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the Charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty relating to going concern
We draw attention to note 1 (h) in the financial statements, which indicates that it has been a challenging period for
the Museum in which some income goals were not achieved and costs continued to rise inexorably. This led to the
deficit balance on the general reserve worsening over the year. As a result. a material uncertainty exists that may
cast significant doubt on the charity's ability to continue as a going concern. Our opinion is not modified in respect
of this matter.
In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of
accounling in the preparation of the financial statements is appropriate. Our evaluation of the trustees, assessment
of the entity's ability to continue to adopt the going concern basis of accounting included a review of budgets and
forecasts up to 31st March 2027 and discussions with management and the board of trustees.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
other informatlon
The Trustees are responsible for the other information. The other information comprises the information included
in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial statements does not cover the other information and, except to the extent otherwise explicitly stated in
our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so. consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required
to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, report {incorporating the directors, report) for the financial yearfor which
the financial statements are prepared is consistent with the financial statements. and
the Trustees, report (incorporating the directors, report) has been prepared in accordance with applicable legal
requirements.
-12-

The Story Museum
Independent Auditorfs Report to the Members of The Story Museum (continued}
Matters on which we are required to report by exceptlon
In the light of our knowledge and understanding of the company and its environment obtained in the course of the
audit, we have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept. or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of Trustees. remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit
Responslbilities of Trustees
As explained more fully in the Trustees. responsibilities statement set out on page 10, the Trustees are responsible
for Ihe preparation of the financial statements and for being satisfied that they give a true and fair view, and for
such internal control as the Trustees determine is necessary to enable the preparation of financial statements that
are free from material misstatement. whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue
as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis
of accounting unless the Trustees either intend to liquidate the Charity or lo cease operations. or have no realistic
alternative but to do so.
Auditor's responslbilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
errorand are considered material if, individually or in the aggregate. they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at- www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's
report.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities, including
fraud. The specific procedures for this engagement and the extent to which these are capable of detecting
irregularities, including fraud is detailed below=
Enquiry of management. those charged with governance and the entity's solicitors around actual and
potential litigation and claims;
Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws
and regulations.,
Reviewing minutes of meetings of those charged with governance.,
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations;
Performing audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness, evaluating the business rationale of significant transactions
outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is
also greater regarding irregularitie5 occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
-13-

The Story Museum
Independent Auditorfs Report to the Members of The Story Museum (contlnued)
Use of our report
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those
matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Lee Baker FCA (Senlor Statutory Audltor)
Wenn Townsend
Chartered Accountants and Statutory Auditors
Oxford
10th July 2025
.14-

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The Story Museum
Balance Sheet
As at 31st March 2025
Charity
2025
Group
2025
Charlty
2024
Group
2024
Note
Fixed Assets
Tangible assets
Intangible
5,857.170
125
5,857.170
125
6,121,719
125
6,121,719
125
5,857,295
5.857.295
6.121,844
6.121.844
Current Assets
Stocks
Debtors
Cash at bank and in hand
30,590
419,663
165,866
30.590
404,075
195,318
22.778
122,088
176,251
22.778
121,181
175,284
10
616.119
629,983
321,117
319,243
Credltors: amounts falllng due
wlthln one year
11
(184,909)
(198.773)
(187.270) (185,396)
Net Current (Llabilities) l Assets
431,210
431,210
133.847
133,847
Long term liabilities
12
(233,140)
(233,140)
(185,000) (185,000)
Net Assets
6,055,365
6,055.365
6,070,691
6.070,691
Funds
Restricted income funds
Unrestricted
Designated fjjnds
General funds
13
517,853
517,853
74,041
74.041
14
14
5,857,295
(319,783)
5,857.295
(319,783)
6,121.844
6.121.844
(125,194) {125.194)
Total funds
6,055.365
6.055,365
6,070,691
6,070,691
These financial statements were approved and authorised for issue by the Trustees on 101h July 2025.
John Paimer
Trustee
Company reglstration number: 4780380
The notes on pages 18 to 28 form part of these flnanclal statements
-16-

The Story Museum
Group Statement of Cash Flows
for the year ended 31st March 2025
2025
2024
Cash flows from operating actlvltles:
Net cash provided by operating activities
(128,739)
{219,523)
Cash flows from Investing activities:
Purchase of property, plant and equipment
Interest received
(80.194)
3,093
{76,146)
1,648
Net cash (used in) investlng actlvlties
(77,101)
(74.498)
Cash flows from financing activities:
Receipts from borrowings
Repayment of loans
Interest received
270.000
(29.483)
(14,643)
30,000
(674)
Net cash (used in) Investing activities
225,874
29.326
Change in cash and cash equlvalents in the reporting period
20,034
{264,695)
Cash and cash equlvalents at the beginning of the reporting period
175.284
439.979
Cash and cash equivalents at the end of the reporting period
195.318
175,284
Reconciliation of net movement in funds to net cashflow from operatlng activities
Net movement in funds for the reporting period (as per the Statement of
Financial Activities)
(15.326)
(419.385)
Adjustments for..
Depreciation charges
Interest receivable
Interest payable
Decreasel(increase) in stock
Decreasel{increase) in debtors
Increasel{decrease) in creditors
344,743
(3,093)
14,643
(7,812)
(282,894)
(179,000)
339,242
(1,648)
674
(1,859)
(50.650)
185,897)
Net cash provlded by operating activities
(128.739)
{219,523)
-17-

The Story Museum
Notes to the Accounts
for the year ended 31st March 2025
Accounting Policies
a) General information and basis of preparation
The Story Museum is a charitable company limited by guarantee incorporated in England and Wales.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per
member of the charity. The address of the registered office is given in the charity information on page
1 of these financial statements. The nature ofthe charity's operations and principal activities are noted
in the Trustees Report.
The charily constitutes a public benefit entity as defined by FRS 102. These financial statements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October
2019 (as updated through Update Bulletin 1 published on 2nd February 2016}, the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011,
the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy note. The financial statements are prepared in sterling which
is the functional currency of the charity and rounded to the nearest pound sterling.
These financial statements consolidate the results of the charity and its wholly-owned subsidiary The
Story Museum Trading Limited. No separate Statement of Financial Activities is presented by the
charity as permitted by Section 408 of the Companies Act2006. The net deficitforthe year attributable
to the charity was £15,326 (2024= deficit £419,388). The charity has taken advantage of the exemption
under FRS 102 from preparing its own statement of cash flows and key management personnel
remuneration.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otheNise stated.
b) Income
Donations and grants are accounted for when the charity has entitlement to the funds, receipt is
probable. and the amount is measurable. Where income is received in advance of a performance or
other specified service it is deferred until the charity is entitled to that income.
Incoming from charitable activities is accounted for when earned on an accruals basis.
c) Expenditure
All expenditure is accounted for on an accruals basis and includes irrecoverable VAT. Resources
expended are included as costs of generating funds, charitable activities or governance costs
depending on the purpose of the expenditure.
d) Tangible fixed assets
Tangible fixed assets are capitalised and depreciated over their useful life as follows:
Equipment
Museum Fit-out
Building improvements
Long leasehold property
3 years
5 to 10 years
25 years
over the life of the lease
e) Fund accounting
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
the donor or which have been raised by the charity for particular purposes. The aim and use of each
restricted fund is set out in the notes to the financial statements. Unrestricled funds are available for
use at the discretion of the Trustees in furtherance of the general objects of the charity. Designated
funds represent unrestricted funds that have been set aside by the Trustees for particular purposes.
details of which are set out in the notes to the financial statements.

The Story Museum
Notes to the Accounts
for the year ended 31st March 2025
Accounting Policies
n Volunteer policy
No entries are recorded in the financial statements of the services provided by volunteers.
g) Pension costs
The charity operates a defined contribution pension scheme. Contributions are recognised as an
expense when they fall due.
h) Golng concern
It has been a challenging period for the Museum in which some income goals were not achieved and
costs continued to rise inexorably. This led to the deficit balance on the general reserve worsening
over the year. Despite this, cash flow projections remain robust through the coming period due in part
to the availability of the unrestricted Figurative loan on favourable terms. The Trustees are comfortable
that the assumptions underlying the positive cash flow position for the next 12 months are solid. There
are also significant restricted reserves created by donations given for projects including urgent roof
repairs, a new permanent gallery fit-out and the ongoing creative programme. All of this work will
strengthen the Museum's resilience.
The operating budget for 2025-2026 has been scrupulously designed capitalising on areas of growth
such as hires and creative enterprise and reflects the expected increase in box office and voluntary
income followin9 a planned change in the visitor offer and ticketing from July 2025. Planned operating
expenditure, particularly on the creative programme, has been constrained but like most businesses.
the Museum's cost base has been unavoidably increased by recent government legislation and market
factors around costs of employment.
Following a review of the Museum's business model, the Board opted to sustain the existing mixed
business model alongside fixed cost reduction through the streamlining of staffing and activity. The
executive team having thus stabilised the financial position. the Trustees remain confident that
incoming leadership will have the opportunity to further consider the options arising from the business
review and assert a new vision to ensure the long-term success of the Museum.
Given all these factors the Trustees are certain that the charity will continue to operate over the next
12 months although they recognise some material uncertainties regarding the charity's ability to
continue as a going concern beyond that.
-19-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
Donations
2025
2024
Grants- Arts Council England
Arts Council Funding- National Portfolio Organisations
Grants- National Lottery Heritage Fund
Grants- Oxfordshire County Councilloxford City Council
Grants- CHK
Grants - Oxfordshire Local Enterprise Partnership
Grants- Cultural Education Partnership (Oxygen)
Private gifts received above £10,000
Art Fund
Anonymous related party
Brian Buchan
Charity of Thomas Dawson
80120 Charitable Fund
Emmanuel Kaye Foundation
Fidelity UK Foundation
Foyle Foundation
Ginny Battcock
Helen Roll Charitable Trust
MacFarlane Family Foundation
Maggie Evans Fund
Oxford cent￿ for Fantasy
Society of the Holy Child Jesus
Templeton World Charity
Virginia Ross
Grants and gifts below £10.000
178,220
72,139
20,650
178,220
8,294
10,000
20,000
24,021
33,300
33,300
14,600
50.000
22,000
185,000
20,000
10,000
35,000
25,000
39,326
35.000
15,000
51.407
60.000
412,000
27.000
25.000
15.000
12,800
20,000
15.000
12,000
10,000
116.347
20,000
132,721
1.243,156
715,189
Income from charitable activities
2025
2024
Café income
Retailing
Rent and room hire
Ticketed events
Schools programme and teacher training
Corporate sponsorship
Enterprise activity
Consultancy
Bank interest
131,744
82.613
143,644
551,331
64.308
18,190
48,762
300
3,093
139,589
78,932
110,832
541,610
76,404
49,189
68,849
5,486
1,648
1.043,985
1,072,539
-20-

The Story Museum
Notes to the Accounts (continued)
for thè year ended 31st March 2025
Expenditure on ralslng funds
2025
2024
Fundraising services and expenses
staff costs
12.073
123,955
5,316
126.555
136,028
131,871
Expenditure on charltable activities
2025
2024
Professional fees and expenses relating to outreach, exhibitions
and events programme. and trading
Staff costs relating to outreach, exhibitions and events programme,
and trading
353,703
338,166
876.138
805.313
1.229.841
1,143.479
Support costs (note 6)
936,598
931,763
2,166,439
2.075.242
Included within the above expenditure is £489,971 (2024.. £259,827) relating to costs expended for a restricted
purpose.
Support costs
2025
2024
staff costs
Depreciation
Office, marketing and professional costs
Govemance costs (note 7)
233,276
344,743
345,530
13.049
291,416
339,242
286,060
15.045
936,598
931.763
-21-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
Governance costs
2025
2024
Auditor's remuneration - audit services
Board meetings
8,465
4,584
7,205
7,840
13,049
15,045
No Trustee received nor waived any remuneration or reimbursement of expenses in the year for their role as
Trustee (2024: None). One employee of the Charity is a Trustee (2024: one employee was a Truslee}.
Emoluments paid to this employee relate solely to their remuneration as an employee of the charity and not to
their position as Trustee. The legal authority to make payments to Trustees was sought and given by the
Charities Commission. The total amount paid to this Trustee for their role as employee was £58,782 (2024:
£59,614)
In addition to the auditorfs remuneration above, the auditors received £Nil (2024.. £nil) in respect of the
preparation of the accounts of the subsidiary company's financial statements.
Employee costs
2025
2024
Salaries
National insurance
Employer's pension
1.100.878
82,446
19,617
1,064,767
75,553
19,012
1.202,941
1,159,332
The average number of employees was 59 (2024.. 57). The total key management personnel compensation
(including employer's national insurance) was £58,782 (2024: £59,614)-
No employees received emoluments exceeding £60,000 in the current year (2024.. none).
-22-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
Tanglble assets
Leasehold Long Leasehold Equipment
Improvements
Property
Museum
Fitwout
Total
Cost
At 31st March 2024
Additions
Disposals
4,700,502
23.660
2,190,000
209,955
46,934
(161,923)
670,987
9,600
7,771,444
80,194
(161,923)
At 31st March 2025
4,724,162
2,190,000
94,966
680,587
7,689,715
Depreciation
At 31st March 2024
Charge for the period
Eliminated on disposal
954,272
188,020
72,396
18,099
179,952
20,101
{161,923)
443,105
118.523
1.649.725
344,743
(161,923)
At 31st March 2025
1,142.292
90.495
38.130
561,628
1.832.545
Net book value
At 31st March 2025
3,581,870
2,099.505
56,836
118,959
5,857,170
At 31st March 2024
3.746,230
2.117.604
30.003
227,882
6,121.719
Charge over leasehold property
As required by the Capital Funding Agreement, The Arts Council of England has a charge over the
Charity's leasehold property. This is by way of a first legal mortgage and applies for 20 years from
October 2017.
The National Heritage Memorial Fund also has a charge over the Charity's leasehold propety. This is
by way of a first legal mortgage and applies for 20 years from October 2017.
10. Debtors
Charlty
2025
Group
2025
Charity
2024
Group
2024
Trade debtors
Donationslgrants receivable
Prepayments
Due from subsidiary
Other debtors
7.662
349.977
10,956
23,817
27,251
15,891
349.977
10,956
51.355
32.950
25,953
50,448
32,950
25,953
27,251
11,830
11,830
419,663
404.075
122,088
121,181
-23-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
11. Creditors: Amounts falllng due within one year
Charity
2025
Group
2025
Charity
2024
Group
2024
Trade creditors
Other creditors
VAT creditor
Deferred income
Pension creditor
Accruals
Arts and Culture Impact Fund
66,013
3,200
22,382
37.674
3.839
14,424
37,377
66,545
3,200
27,974
45.414
3.839
14,424
37.377
51,152
3,200
28,962
60,238
4,225
9,493
30,000
38,315
3,200
33.496
66,667
4,225
9,493
30,000
184.909
198.773
187,270
185,396
Reconciliation of deferred income:
Charity
2025
Group
2025
Charity
2024
Group
2024
At 1 sl April 2024
Additions during the year
Amounts released to income
60.238
37,674
(60,238)
60,238
37,674
(60,238)
57.137
60,238
(57,137)
57,137
60.238
157,137)
At 3151 March 2025
37,674
37.674
60,238
60.238
Deferred income relates to sales in advance for events, venue hire. and museum entry.
12. Creditors: Amounts falling due after more than one year
Charity
2025
Group
2025
Charity
2024
Group
2024
Arts and Culture Impact Fund
Loans from Trustees and other related parties
233,140
233,140
185,000
185,000
233,140
233,140
185,000
185,000
-24-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
12. Creditors: Amounts falllng due after more than one year (continued)
The loan amounts within creditors fall due as follows:
Charity
2025
Group
2025
Charity
2024
Group
2024
Within one year
BelNeen one and five years
After more than five years
37,376
174,026
59,115
37,376
174,026
59,115
30,000
30,000
185,000
185,000
270.517
270.517
215,000
215.000
13. Restricted funds
2025
At 1st
April 2024
At 31st
Transfers March 2025
Income
Expenditure
Programme. Learning and
Participation projects
74,041
532,059
(456.287)
(25.346)
124,467
Oxford Community Insight
Profile Grant Funding
OCC Community Impact
Fund Big Ideas Grant
OCC Access Project
OCC Digital 1001
Virigina Ross
3.000
(3.000)
11,000
600
750
20.000
(11.000)
(600)
(750)
(13,334)
6.666
Repairs and Resilience
Capital Project
420,300
{5.000)
(28.580)
386.720
Total Restricted Funds
74.041
987,709
(489,971)
(53,926)
517,853
2024
At 1st
Aprll 2023
At 31st
Transfers March 2024
Income
Expenditure
Programme, Learning and
Participation projects
19,151
305,149
(239,827)
{10.432)
74,041
OCC Community Impact
Fund Big Ideas Grant
Virginia Ross
10,000
10,000
(10,000)
(10,000)
Total Restrlcted Funds
19,151
325,149
(259,827)
(10,432)
74,041
-25-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
14. Unrestricted funds
2025
At 1st
April 2024
At31st
Transfers March 2025
Income
Expénditure
Designated:
long leasehold property
and property improvemenls 5,703,318
other fixed assets
418,526
{206.119)
(138.624)
23,660
56.534
5,520,859
336,436
6,121,844
(344,743)
80.194
5,857.295
General funds
(125.194)
1,299,432
(1,467.753)
(26.268) (319,783)
5.996.650
1.299,432
(1,812,496)
53,926
5,537,512
2024
At 1st
Aprll 2023
At31st
Transfers March 2024
Income
Expenditure
Designated..
long leasehold property
and property improvements 5,908,198
other fixed assets
476,742
{204.880)
(134.362)
5,703,318
418,526
76,146
6.384,940
(339,242)
76,146
6,121,844
General funds
85,985
1.462,579
(1,608.044)
(65.714) (125,194)
6.470,925
1,462,579
(1.947.286)
10,432
5,996,650
The long leasehold property and property improvements fund represents the net book value of these assets.
The other fixed assets fund represents the net book value of these assets.
Transfers are made to the designated fund, which represents the balance of fixed assets, where restricted
funds have been used for the purchase of capital assets in line with the terms and conditions of the funds
provided and the stipulations under the SORP. The balance of purchases in the year is funded from
unrestricted funds.
-26-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
15. Analysls of net assets by fund (Group)
Unrestrlcted
Funds
Restricted
Funds
Total
2025
Fixed assets
Net current assetsl{liabilities)
Long term liabilities
5,857.295
(86.643)
(233.140)
5,857,295
431.210
(233.140)
517,853
5.537,512
517,853 6.055,365
Unrestricted
Funds
Restrlcted
Funds
Total
2024
Fixed assets
Net current assetsl{liabilities)
Long term liabilities
6.121,844
59.806
(185.000)
6.121.844
133.847
(185.000)
74,041
5.996,650
74.041
6,070,691
16. Related party transactions
During the period, donations totalling £205,695 (2024: £77,510) were received by the Charity from the
Trustees.
At the balance sheet date. there was no balance remaining on the interest-free loan provided to the Charity
by an anonymous related party (2024.. £185.000 was outstanding).
At 31st March 2024 the Charity had an overdraft facility of £50.000 available on one of its bank accounts that
was secured by way of personal guarantee provided by one of the Charity's Trustees. The Trustee resigned
from the board during the year and as a result the personal guarantee and therefore the overdraft were
withdrawn in May 2024. The Board do not consider an overdraft facility to be required based on the 12-month
ashflow forecast.
17. Contingent Ilabllltles and other fjnancial commltments
A costed condition survey of the roof revealed that repairs are required in several areas. The estimated cost
of the work required to be completed within 2 years is £370k. including contingencies. The works will be
funded by voluntary income and a £300k ACIF loan from NESTA which will underwrite the cashflow
requirements of the project.
-27-

The Story Museum
Notes to the Accounts (continued)
for the year ended 31st March 2025
18. Subsldlary undertaklngs
The Charity has a 100/0-owned subsidiary company. The Story Museum Trading Limited (company
number 5296271 }, which delivers the schools programme and teacher training. A summary of the results
for the period ended 31st March 2025 is set out below:
2025
2024
Income
Expenditure
2,702
{2,702)
70,804
(70,804)
Profit for the period
Assets
Liabilities
37,681
(37,681)
12,020
(12,020)
Net assets
-28-