## LEACH POTTERY ANNUAL REPORT ## - APRIL 2024 MARCH 2025 leachpottery.com ## INTRODUCTION ## Our Aims **Welcome:** Provide a warm welcome to everyone, broadening audiences, and deepening relationships. **Celebrate and share the Leach** **legacy:** Capturing the history of the Leach Pottery from a variety of sources and maintaining a living tradition and the site of the Leach Pottery, whilst continuing to evolve and challenge creative boundaries. ## Our Values **Quality & care** in everything we do **Sustainability** for our organisation and the environment **Creativity** in the work we make, and the work we do **Welcoming** by inviting, understanding and creating friendships & exchange whilst championing inclusivity & diversity **Living Tradition** of cherishing and passing on legacy, knowledge, skills, ethos and the site of the Leach Pottery whilst continuing to evolve and challenge creative boundaries **Creative Hub:** Establish a creative hub, where creativity through clay will flourish and people can access formal training as well as informal opportunities to learn about and experience the well-being benefits of working with clay. **Restoration of Buildings:** Conserve and restore the historical buildings on the site for future generations to enjoy. **Economic Sustainability:** Become economically sustainable and able to expand commercial activities in line with ambition and need. **Environmental Sustainability:** Take action to reduce our negative environmental impacts, through research and understanding and through adoption of more environmentally friendly technologies and practices. Picture Bella ## FROM GARY TOPP, CHAIR OF TRUSTEES _This has been another exceptional year at the Leach Pottery combining the huge organisational effort of a major capital project with the challenges of running a very busy and productive arts organisation._ The Leach Pottery has a wonderful elasticity of scales in play at all times. On the one hand it is a domestic scale physical site on the edge of St Ives, on the other hand it carries an international weight and prominence in the ceramics and craft worlds. It is at the vanguard of both historic and contemporary practice, blending the ethics and integrity of both and spanning many geographies and time zones. It also has many expectations placed upon it – to be the champion and fierce defender of Bernard’s complex legacy whilst also training the next generation of studio potters through its apprenticeship and residency schemes whilst turning a profit from its studio enterprises. In parallel with these already significant tasks it delivers and supports a wonderful array of educational and community projects working with many local communities, young and old, beginners and experts and continuously promoting the joy and exhilaration of working with clay. And let’s not forget the exhibition programme, the retail shop showcasing the finest national and international potters and the museum quality care of the collections. We also continue to maintain our long relationship with the ceramics community in Japan including international residencies and frequent dialogue. All of these many tasks and projects, always delivered with skill and determination, can only happen because of the exceptional talent of the team at the Leach. The Trustees, as always, are hugely grateful to the whole team for their many areas of expertise, commitment and delivery across the 2024/5 year. This list of achievements would be extraordinary in any normal circumstance: but it is markedly so in the current situation. Alongside these significant tasks we have embarked on the largest capital project in the history of the Leach Pottery beginning the transformation of our site into an iconic entrance to St Ives, signalling the town’s remarkable creative history. Major capital projects are peppered with technical challenges; road closures, pipes and foundations, cost and logistics, and all of these featured regularly in 2024/5. But the buildings are emerging wonderfully and the site is being transformed in a way that will harness our successes, legacies and histories and support them in the future. The new kilns alongside the retold Leach story and the enhanced community and education spaces will support the next generation of potters. This has been a year of building and preparation, hard work and constant change, overcoming obstacles and continuing to make progress. My sincere thanks to the many people – staff, trustees, volunteers, stakeholders, neighbours, supporters, funders, communities and visitors who have all helped to keep Leach moving forward and playing our part in the safeguarding of the future of studio pottery. Together, we have achieved another milestone in the long history of the Leach Pottery, and over the next few years we look forward to sharing this with as many of you as we can. _Gary Topp Chair of Trustees_ ## VOLUNTEERS _Volunteers are a highly valued and appreciated part of our team. We would not be able to open our museum seven days a week without them. We are incredibly grateful for the time, energy and enthusiasm our volunteers offer at the Leach Pottery and we can be sure the museum would not be the same without them, writes Hannah Tracey our new volunteer coordinator._ I started at the Leach Pottery in November 2024. The Volunteer Coordinator role was a new role funded by the National Lottery Heritage Fund and there had not been a dedicated member of staff to recruit, train and support volunteers previously. There was however already a core of committed, friendly and experienced volunteers who support us on the museum welcome desk, so my first step was to ensure they were happy and recruit a new volunteer to fill any gaps. We also benefit from volunteers who enhance the experience of our community and family participants. There wasn’t a committed team of volunteers for this role, so my next step was to advertise for new volunteers to support the Learning and Participation team. We have now interviewed and recruited four new volunteers, with more applications still coming. I have also recruited and trained 11 new oral history volunteers to gather stories and memories from people and potters with memories of The Leach Pottery over the past century. Having a dedicated volunteer coordinator frees up time for the Learning and Participation, Front of House and Curatorial teams to focus on their own work, while enhancing the programmes with volunteers to support them. My role also ensures there is a go-to person for any support needs our volunteers have. “ _My wife and I moved to the St Ives area three years ago. Living just up the road from the Leach Pottery made it an easy decision to take up a volunteer position there._ _The pottery receives a wonderful mix of visitors, some of whom are potters in their own right - each visitor has a story to tell. The staff are lovely, and other volunteers are friendly and willing to help._ ” Volunteer Andreas Priestland ## LEARNING AND PARTICIPATION _Our Learning and Participation team worked with more than 4,500 people across workshops, events and classes this year._ ## Communities Over the last year we have supported the following 15 community organisations: Promas Carers, Social Prescribing, Wednesday Wanderers with the Sensory Trust, Trelya, NHS Epilepsy Nurses, Clear with the St Ives School of Painting, Penzance Memory Café, Penzance Women’s Institute, St Ives Memory Café, Trewidden Care Home, Pengarth Day Centre, Redruth Memory Café, Penwith Mental Health Support Services, The Women’s Centre Cornwall, Barnardo’s Young Carers. Experiences of participants in the community groups range from living with life limiting illness, mental illness, bereavement, unpaid caring responsibilities, memory loss, learning disabilities, sight loss, childhood deprivation, old age deprivation, at risk of offending or experience of the criminal justice system, loneliness to recovery from illness or addiction. In addition to attending local events and festivals, we run Mud Club (1825 years), Community Afternoons and Mud Pie (7-12 years). ## _Young People_ Four local young people have joined us for free monthly kick wheel workshops across the year. All have become confident throwers! ## _Wednesday Wanderers_ The Wednesday Wanderers’ (A collaboration between the Leach pottery and the Sensory Trust, with people living with dementia in the St Ives area) workshops have taken place at the National Trusts’ Godolphin House this year. Their focuses have included, co-producing a collection of beakers to drink from during workshops, co-producing a collection of honey pots and terracotta pots. ## _Promas Carers_ Promas Carers, a group supporting local adults with caring responsiblities, have co-produced a collection of plates and cups which resulted in a shared banquet using their wares. The group have also had day-long workshops focusing on their throwing skills. ## _Community Afternoon_ These weekly workshops for current and previous participants on our community programme (through our partnerships) have gained momentum this year with all workshops having long waiting lists. In the Spring term the Community Afternoon participants were introduced to developing glazes. While the group have worked with clay before, this was the next step in furthering their understanding of pottery. The group started with the Leach 4 3 2 1 transparent glaze recipe and then added glaze stains in increments, followed by an experimental approach. ## SCHOOLS _We have worked with 28 schools this year over 48 workshops. Of these 48 workshops 30 of them were delivered to Cornish schools and the majority of these received free workshops_ ( _all at least discounted_ ) _in partnership with us. The selection of these partnerships schools is informed by the percentage of pupil premium students in the schools and the schools_ ’ _location in relation to areas of deprivation._ This year the Learning Team have been working regularly in Hayle Academy. We have recently started a new project with pupils from Hayle Academy and their local primary school, Bodriggy Academy. The students have formed a pop up pottery with us as follows: We are a group of young potters from Bodriggy Academy & Hayle Academy. We experiment with surface decoration to co-produce tiles together with the Leach Pottery. We take inspiration from the works of Bernard Leach and the nature of our local surroundings. We believe there is beauty in the hand-made and we aren’t scared of mistakes and wobbles, that’s where the interest lies! On selected Thursdays the years 4 and 5 from Bodriggy Academy walk up to join the Hayle Academy students. We have worked with the Hayle students so they are able to co-lead the workshops. It’s a dynamic way to conduct this project and encouraging to see the communication between the year groups. ## ADULTS _We have welcomed 964 people across 2169 participations onto the Adult Learning programme. Courses have included_ : - •3 & 5 Day Throwing - •2 Day Throwing Workshop: Tutored Open Access - •2 Day In Focus: Handles - •2 Day In Focus Course: Jugs - •2 Day Course: Introduction to Glaze Theory - •5 Day In Focus Course: Plates & Bottles - •5 Day Specialist: Intermediate Throwing & Surface Decoration - •5 Day Specialist Production Pottery: Throwing with Efficiency & Skill - •5 Day Specialist Lidded Vessels & Teapot - •Evening Throwing Course at the Leach Pottery - •3 Day Kick Wheel Throwing Course - •Throwing Tasters - •Leach Beginners Year - •The Leach Year 36 of the 126 workshops were written with local people in mind and delivered at cost price. Highlights of this year on the Adult programme include: Moving out of the temporary studio in Newlyn and teaching in Bernard’s studio. From January 2024-December 2024 half of the Adult courses were delivered at Newlyn school of art, allowing us to continue teaching close to full capacity during the building project. With the national Lottery Heritage Funding of the School, Families and Communities in place for 2025 this made room for Bernard’s studio to be used solely for the Adult learning programme. Establishing 2 year-long courses we were pleased to introduce 2 new offers to the adult programme this year, the Leach Beginner’s Year and the Leach Year, one course for intermediate potters and the other for beginners. The Leach Year course covers skills from production throwing to skill development while the Beginners Year focuses on sound foundations and fun experiences such as a pit firing of their pots. The successful delivery of the courses during a building project meant participation figures from the adult course were only marginally down from last year when we had 2 studios onsite. ## FAMILIES Through delivery of the family programme offsite we have been able to welcome greater numbers to our workshops. An encouraging change is seeing the percentage participation from families with TR26 or TR27 postcodes more than double across the year. ## THE YEAR IN NUMBERS _Pots created by Cornwall Womens Project_ Worked with 4,579 people. Held 6,348 participations. At least 2,500 of all participations were from local areas of deprivation or have additional needs. One community programme participant joined the learning team in a freelance capacity three community programme participants joining the Leach team in a volunteer capacity. We engaged with 512 people (across 933 participations) during 86 workshops. Worked with 28 schools in over 48 workshops. Of these 48 workshops 30 of them were delivered to Cornish schools and the majority of these received free workshops (all at least discounted) in partnership with us. The selection of these partnerships schools is informed by the percentage of pupil premium students in the schools and the schools’ location in relation to areas of deprivation. “ _I don_ ’ _t know where I would be if I hadn_ ’ _t been invited to my first pottery lesson at Leach. It gives me quiet and itpy calm place away from my problems. It_ ’ _s my lifeline._ ’ _s my hap-_ ” – Participant from the community programme ## POTTERY STUDIO _The Pottery Studio makes our range of Standard Ware, sold in our Leach Pottery shop and independent shops. Each member of the team is a talented potter in their own right._ “ _I like the intimacy of creating work that is go-_ ’ _ing to be used, for example a mug for someone s morning coffee_ ,” Ellie Woods, graduating apprentice 2024 ## MEET OUR APPRENTICES The Leach Studio has an active apprenticeship scheme offering a three-year apprenticeship to one potter each year - with plans to increase this in the new studio. This year saw one graduation and one new apprentice join the team. Ellie Woods (pictured left) joined the Leach Pottery Studio as a Studio Apprentice in 2021, graduating in July 2024 to join the team as production potter. Her graduation was marked by a solo exhibition at the Leach Pottery featuring around 100 works. Later in the year we welcomed our latest apprentice potter Callum Cowie to the team. Callum is drawn to Japanese aesthetics and the philosophy of becoming present in pottery, allowing creativity and beauty to shine through. The use of cool colours is prominent in his palette, bringing their calming presence to the lives of those that enjoy his pots. It is the use of these everyday objects that Callum finds most interesting; elevating the simple act of a cup of coffee or enjoying a meal with handcrafted wares is a privilege that invigorates him every day. ## A JAPANESE RESIDENCY During the year our production manager Matthew Foster (pictured below) spent time at the Mashiko Museum of Ceramic Art in Japan. In the resulting exhibition in February 2025, Matthew creatively engaged in a variety of traditions, experimenting with various techniques and materials. Matthew created more than 900 pieces in just eight weeks and the exhibition presented more than 100 of these pots, each reflecting a playful commitment to craftsmanship and creativity. “ _After nearly 10 years at the Leach Pottery, I felt I was ready for the experience of Mashiko_ – _to test myself and explore my journey elsewhere,_ ” _says Matthew._ “ _The residency allowed me to reflect on my abilities, successes, and mistakes, which were crucial in furthering my understanding of the craft._ ” _Sake Set. Ash glaze. Mashiko, 2024._ _Guinomi. Okinawa inspired overglaze Enamel. Mashiko, 2024._ _Side-Handled Teapot_ & _Mug Set. Kohiki Style. Mashiko, 2024._ ## LEACH STUDIO CHALLENGE _2025 kicked off with a show bringing together the talents of our studio potters inspired by an object from the museum._ Each potter using it to inform their creative journey. The challenge playfully engaged the wider Leach tradition, of how a potter takes inspiration and develops their work in union with their creativity. The exhibition featured pots by: Roelof Uys, Lead Potter; Matt Foster, Production Manager; Britta James, Production Potter; Ellie Woods, Production Potter; Amy Wilson, 2023 Apprentice; Callum Cowie, 2024 Apprentice. Roelof Uys Callum Cowie Amy Wilson Matt Foster Britta James Ellie Woods EXHIBITIONS _A vital part of our ethos is to support contemporary potters and safeguard the future of studio pottery_ Alongside Standard Ware and the work of our studio potters, the Leach Pottery is committed to its support of contemporary potters. We work with more than 70 potters from Cornwall and throughout the UK and worldwide with selling exhibitions in our Entrance Gallery, onsite in our shop and online. In early 2024 we launched our programme of selling exhibitions. Each exhibition is supported by a curated online exhibition. Throughout the year a series of curated museum exhibitions went on show in our Cube Gallery celebrating the Leach Pottery and its place in the last century of studio pottery. Our first exhibition of the year was a group show in our Cube Gallery. Leach Pottery: First Students ran in May and June 2024 and featured early works from the Leach Pottery alongside pots by Bernard Leach, Shoji Hamada and Tsurunosuke Matsubayashi. Students Over a Century: Roots and Branches ran summer and early autumn and told the story of a small number of the Leach Pottery’s students; from 1923 when they began to arrive, to key points such as 1938 with the start of the Leach Apprentices, and their more formal training, that was reinvigorated in 2014. In the Entrance Gallery, solo exhibitions included a show of work by celebrated studio potter John Bedding; ‘60 Years On’. The exhibition features new pieces from John’s Copper Glazed Pot series; these sculptural pieces are raku fired, then finished with patination chemicals to give spontaneous colours and unique surface finishes. The exhibition spaces and museum are taking a break throughout 2025/6 as they undergo major renovations with the reopening set for late 2026. _Leach Pottery_ : _First Students_ _Students over a Century_ : _Roots and Branches_ LIIVa141• JohTL Bedding: 60 Years o ## COMMERCIAL _Potter_ ' _s Edition_ ## _Potter_ ' _s Edition_ _Our commercial team share some of the highlights from 2024_ / _2025 and look ahead to our new shop in 2026._ _Colanders_ : _Britta_ _Faceted Jars_ : _Amy_ _Casserole Dishes_ : _Matt F_ _Butter Dishes_ : _Ellie_ We introduced Potter’s Edition: a new collection of work made by members of the Leach Pottery’s production team. Each potter selected, designed and made limited editions of individual piece using the same stoneware body as our Standard Ware. They were exclusively available online. Every item sold out. _Utensils Holders_ : _Callum_ ## _Featured Potters_ We continued with our popular regular promotions of individual makers’ work, with 10% discount on all work online and in the Shop. Potters included: Mark Titchiner, Mark Griffiths, John Mackenzie, Barry Huggett, Carson Culp, Helen Lee and members of the studio production team. _Lidded Jar - Carson Culp_ _Bowl with Chun Glaze - Mark Griffiths_ _Vase - John Mackenzie_ _Jug - Barru Huggest_ ## _Online Exhibitions_ We presented numerous online exhibitions as extensions of our exhibitions programme. This allowed us to reach a wider audience and proved to be very popular. Our online exhibitions included: Colour & Movement - celebrating contemporary and emerging potters who work with an emphasis on colour, Ellie Woods: An Apprenticeship, a first solo graduate show for our fifth Studio apprentice, John Bedding: 60 Years On and Leach Studio: A Potters’ Challenge featuring work from the Leach Studio potters who made new work in response to an object from the museum. ## _Seconds Sales_ We held Seconds Sales during the Easter and the August bank holiday; both hugely popular and successful. Throughout the year we offered Standard Ware promotions with 10% off for a limited time. These included mugs, bowls, plates and jugs. It is a way to make our ware more affordable and drives extra traffic and interest to our Standard Ware web page. ## _Winter Photoshoot_ During November we collaborated with Milieu Gallery of contemporary art and ceramics in St Ives. We used their beautiful harbour-front gallery to display our Standard Ware for a Winter/Christmas photo-shoot, which formed the basis for our Christmas gift guide on the website and on our social media platforms. CAPITAL PROJECT _The year marked a series of major milestones in the future of the Leach Pottery while continuing to celebrate creativity, craftsmanship, and connection through clay and safeguarding the pottery for future generations._ April 2024 saw work begin in redeveloping the site to support the next century of making. This project will create dedicated spaces for learning, production, and community, designed to recognise our heritage while opening up new possibilities for everyone who works with or visits the pottery. **==> picture [495 x 33] intentionally omitted <==** **----- Start of picture text -----**
Overview of Colonnade
St Mark's Schoolhouse, Battersea Rise, London, SW11 1EJ Revisions Leach Pottery Phase 1 Colonnade View 1
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www.dowjonesarchitects.com STATUS: INFORMATION 1:10@A3 03/02/2025 488-SK-2
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The redesign is based on 17 years of experience running the pottery as a working heritage site. Visitors to the site find it confusing and limiting and the buildings have grown over time. The project will bring everything together in a more sensitive, coordinated way. The work began with the demolition of the learning & participation building and former kiln shed and erecting a new Learning and Production Centre which opens in early 2026. More than 3,000 people attend classes and workshops at the Leach Pottery each year – many taking part in free community workshops for families and children, as well as courses for beginners and more experienced potters. The new centre will increase the number of these incredibly popular sessions, as well as create a bespoke pottery studio where our team of potters make the Leach Standard Ware range and work on their own craft. The studio has an active apprenticeship scheme which will expand in the new studio. At the end of 2024, we employed new staff funded by the National Lottery Heritage Fund including Make with Leach coordinators (for Schools & Families and Community & Young People) and our first marketing apprentice. ## _The aims of the project_ •More jobs for skilled makers, more apprenticeships, more pathways to formal education and employment - •A bigger and better community programme with more classes and projects for families and special interest groups •Support for local creative businesses through mentoring and international connections - •A stronger schools programme with space for more students and better experiences •Year-round education programmes that welcome visitors from near and far - •A reduced environmental impact through greener technologies - •A better understanding of our history and its importance to the town of St Ives, Cornwall and the British craft sector The Capital Project is supported by the St Ives Town Deal, the National Lottery Heritage Fund, Arts Council England, the Wolfson Foundation and the Headley Trust. We are incredibly grateful for their support. ## INVESTING IN OUR FUTURE _Key to the future of the Leach Pottery is ensuring sustainability - not only in the world of studio pottery, but also in environmental factors. The two-year Capital Project will greatly reduce the carbon footprint of the site_ ## _Latest kiln technology_ We worked with a social enterprise Planet A Solutions who helped us identify different fuel options that could replace natural gas in our reduction kilns. We are now looking for partners to test these alternatives to fossil fuels. Initial research in 2020 around our site including a smart energy saving and carbon reduction report has led to the Capital Project where we will remove natural gas as our main source of heating and make our buildings more efficient to run. We are building a carbon neutral building, installing PV panels on the roof, installing energy efficient heating and lighting and improving the historical buildings where possible. The research into the life cycle analysis of a mug is still to be fully published, as is the research by a residency in the autumn of 2023 on exploring the role and potential of different fuel sources in the glaze firing process and how the changing nature of local industry affects the sustainability of local materials. ## _Sustainable packaging_ The Leach Pottery uses sustainable and recyclable materials in its packaging. We use cardboard boxes and brown paper bags and our packaging includes expandable die-cut craft paper with a tissue interleaf system to wrap and pack pots. We also use biodegradable loose fill packaging ‘peanuts’ which are 100 per cent home compostable. As part of our efforts to reduce our carbon footprint we took the decision to only offer UK delivery. ## SUMMARY OF FINANCIAL STATEMENTS _Where our money came from 2024_ / _2025 in Trust_ & _Enterprises_ - _Excluding the Capital Project grant_ **==> picture [394 x 392] intentionally omitted <==** **----- Start of picture text -----**
Grants 6.5% Retail 39.5% Learning and Participation 14%
Museum admissions 3.4% Other/misc. 11%.2 Studio 25.4%
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_Grants_ / _Retail_ / _Museum admission_ / _Learning and Participation_ / _Other_ _Where our money was spent 2024_ / _2025 in the Trust_ * _Excluding The Capital Project_ **==> picture [338 x 456] intentionally omitted <==** **----- Start of picture text -----**
Staffing, training and travel 45%
Retail - cost of sales 35% Office costs 2%
Utilities 5% Maintenance 2.5%
Museum and exhibitions 0.5%
Learning and Participation freelancers 6%
Insurance and account 3%
Learning and Participation materials 1%
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_Staff training and travel_ / _Retail cost of sales_ / _Office costs_ / _Utilities_ / _Maintenance_ / _Museum and Exhibitions_ / _Learning and Participation freelancers_ / _Insurance_ / _Learning and Participation materials_ _Support we received in 2024_ / _2025 for the Capital Project_ St Ives Town Deal 54.1% National Lottery Heritage Fund 45.9% **==> picture [303 x 303] intentionally omitted <==** _St Ives Town Deal_ / National Lottery Heritage Fund Company Registered Number. 05372378 (England and Wales) Charity Regi$t¢red NuM￿r= 1111263 B¢mard L¢ach {St Ives) Trust Limited B¢rnard Lea¢h (St Iv¢sl Tntst Limited is a ¢¢mpany limit¢d by guarantee and not having a share capital Report of the Trustees and Financial Statsments for th¢ Year end¢d 31 Mar¢h 2025 Leach Pottery Company Registered Number. 05372378 (England and Wales) Charlty R•glstsr8d Numbor: 1111263 Bernard Leach (St Ive51 Trust Limited Contents of the Financial Statements For the Yaar Endad 31 March 2025 Page Reference and administrative details Report of the Trustees Report of the Independent Auditors 4244 Consolidated Statement of Financial ACtiv￿eS 45 Consolidated Statement of Financial Posibon 46 Charity Statement of Finan(aal Position 47 Statement of Cash Flows 48 Notes to the Finanual Statements 4￿62 Detailed profit and loss account 6344 Page 2 Company Registered Number. 05372378 (England and Wales) Charlty R•glstsr8d Numbor: 1111263 B•mard Laach (St Iv8s} Trust Llmltad Rèference and admlnlstratlva dètalls For the year ended 31st March 2025 TRUSTEES C Balch J Defabo R Ewing-Jame5 SEPope E S Steer GJTopp S D Harrison N A Ramsay-Tiease L M Goodband T E Smtth J Whittell COMPANY SECRETARY M Pamia REGISTERED OFFICE Leath Poltery Higher Stennack St Ives Comwal TR26 2HE COMPANY REGISTERED NUMBER 05372378 {EnglaNI and Wales} CHARITY REGISTERED NUMBER 1111263 AUDITORS BK Plus Audii Ltd 3 Chapel Street Rednjth Comwal TR15 28Y ACCOUNTANTS Hodgsons Chartered Accountants 48 Arwenack Street Falmouth Comwall TR11 BANKERS Barclays Bank plc 14 King Street Truro Comwall TR12RB Page 3 Company Registered Number: 05372378 (England and Wales) Charity R¢gister¢d Number.. 1111263 Bemard Leach {St Ives) Trust Limited Report of the Trustees For the Year End￿ 31 Mar¢h 2025 The Itustees who are also directOTS of the chartty foT the purposes of the Companies Act 21]06. present their report with the finanaal slalements of the Charity for the year ended 31$1 March 2025. The Iruslees have adopted the provisions of A¢¢ounting and Reporting by Charities.. Statement of Recommended Practice applicAble to charities preparing Iheir accounts in accordance with the Finanaal Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. STRUCTURE GOVERNANCE AND MANAGEMENT Administrative Details Charity registration number. Company registration number.. Prin¢ipal offi¢e and registered offi(t". 1111263 05372378 (England and Wales) Leach Pottery Highei Stenna¢* Sl Ives Comall TR26 2HE Governing Document Bemard Leach 1st Ivesl Trust is a charity established as a company limiied by guarantee. It is govemed by the Memorandum and Artides of Association dated 7 February 2005 and is a registered charity the Charity Commission. If the chanty is dissolved the members agree to contribute an amount not ex￿edIng £5 to the assets of the charity. Trustees The tnjstees during the year under review were.. C Balch J Defabo R Ewing-James SEPope E S Steer S B Stuart (resigned 6 SepteM￿r 20241 V Thirunarayan (resigned 28 June 20241 GJTopp S D Harrison N A Ramsay-Trease L M Goodband T E Smith M J Whittell R•crultm•nt and Inductlon of Trust8aS Tnjstees retire by rotation after 3 years in post. They are eligib￿ for re-election thereafter. Financial Summary Income increased during the year by £6,653,475 to £8,242.128, from £1,588,653 in the previous year. This increase is almost entirety attributable lo the increase in grant income in relation lo the ongoing capital pioject. which increased by £6.643,502 in the year. Other income streams were largety stable. wrth the largest movements ￿Ing an in￿aSe in deposit account interest of £28.757. a decrease in trading income of £32,418, and an increase in education income of £16,918. Trading activity costs were largety static in Ihe year a decrease of onty £6,445, this is desprte the above decrease in tradirrfJ income. As such the profft margin foi trading income fell to 18.5% this year down frown 23.3% in the previous yeaT. Charitable activities expenditure ￿e¢￿ased by £123.008 to £134.793. This is ¢Jue largety lo a de(xease in staff costs of £97.716. Education programme costs also decreased by £8,998, despiie a rise in income in the year from this programme. Overhead costs increased in the year by £51,408. The inuease in costs was auoss various areas, with the most significant being an increase of £76,367 in staff costs. Page 4 Company Registered Number: 05372378 (England and Wales) Charity R¢gister¢d Number.. 1111263 Bemard Leach {St Ives) Trust Limited Report of the Trustees B¢mard L¢a¢h {St Ivesl Trust Limited Financial Summary (Continued) Page 46 shows the consolidated statement of finiaicail position for Ihe chariiable group. Tangible fixed assets have increased in the year by £1,744.883 to £2.981.677. This is due to add￿'onS in relation to the ongoing capital project. At year end the group had total reserves of £9,378.114, compared lo £1.864.976 in the previous year. Of these £8.970.774 are restricted. £407.340 are unrestricted. The increase in restricted funds in the year is due lo ￿CeIpt of the grant income in ￿latIon to the caprtal project. Chanty Reserves are £9.389.586. £418.812 unrestricted. Bemard Leach Enterprises profil 15 £14.233. Income In￿eaSe￿ during the year by £41.988 10 £238.541 in comparison lo the prewou5 year's lolal of £196.553. Reserves Policy The Iruslees aim 15 to create and maintain sLth￿￿t unrestricted reserves to ensure the charttls long-lerm viabilty and lo support continuing growth in ils activities induding the maintenance of the buildings under Il* 10(kuear lease from Comwall Counal. We have achieved our goal of a general reserve fund to cover four months of overheads. Investment Poli¢y The Ttustees consider the day lo day cash flow requ1￿MentS of the Charity are suth that sutplus funds r￿ed lo be held on a short, rathei than a long lem) basis. Cash funds are m0nrto￿d on a regulai basis and Ythe￿ possible a￿ invested on short lem deposrt.. Structure The Leach Pottery Director is appointed by the Trustee5 to wnanage the day-l(Hlay operations of the Charity, repotting directty lo the Trustees. Libby Buckley has held this post throughout this finan(ial year. About US Founded in 1920 by Bemard Leach and Shoji Hamada, Ihe Leach Pottery, St Ives, is among most respected and influential potteries in the worfd. The Leach Poltery is conSide￿d by many lo be the birthplace of British sludio pottery. One of the greal figures of 201h century art, Bernard Leach played a cruaal pioneering role in creating an identity for artist poiters across the world. Over the last hundred years. the pottery has forgeil the shape of Studio Pottery in the UK and beyond. S¢ores of potters. students and apprentices from across the worfd have come to the Leach Pottery to train, creating a uniquety intemational environment in the heart of Comwall and maintaining the Pottery's creative prinaple of Easvwest exchange. Today, the Leach Pottery Studio, Museum and Galery contiThJe developing Bemard Leach's hisloric legacy. The Leach Pottery is managed by the Bemard Leach {St Ivesl Trust Ltd, a registered charity founded in 2005 reg. no 1111263 and subsidiary trading company Bemard Leach Enterprises Limrted.. 05965856. The primary objectives of the trust are to further the development ol studio pottery, provide training in the art. crafi and making of pottery arvj lo advan￿ the public education of the life and work of Bemard Leach and his circle. In 2023 work began on our exciting Capital Project which will S￿ the sile redeveloped. The pottery has re￿iVed funding from the Town Deal programme. National Lottery Heritage Fund and the Arts Counul for the two-year tian5forTnalion. A team has been appointed to oversee the project which will prote¢t the Leath Pottery for the next 100 years. Public Benefit The Iruslees confirm that they have complieil wlh the requirements of section 4 of the Charities Act 201 1 to have due regaid lo the public benefit guidance published by the Charity Commission for England arKI Wales. Our Vision and Valuos The Leach Pottery is a pla￿ of creativNy and wellbeing. committed to bringing day to life. ￿lebrating its rich history and supporting a vibrant future for studio ￿raMics. Page 5 Company Registered Number.. 05372378 (England and Wales) Chartty Reglstered Number= 1111263 Bemard Leach {St Ivesl Trust LTmited Report of the Trust¢e5 {contlnued} For the Year Ended 31 March 2025 STATEMENT OF TRUSTEES RESPONSIBIL￿lEs The Ifusiees (who are also ￿1￿clo¥S of 8emard Leach ISI Ivesl TnJst Limited ft)r the purposes of cx)mpany18wI are respor>sible for p¥eparing the Trustee5' Report a¥td the finan¢Èal statements in accordance wÉth applir*tAe law ènd United Kingdom Accotiniif*g Standards Iunttecl Kingdom Generalty Accepted Accounting Practir£l. Company Law requires the trustees to prepare fina￿la1 statements fof each finaneial ye8r th8t give a true an(J fair v18w of the stale of aff2irs of the charstable company and the group and of the incom4ng resources and applicalion of resources, irmauding the inwme énd expefidilure, of eharitabie group for Ihat pefiod. preparing th&ge firwrK*I st8tements. the Trustees a￿ required to: - Select suitable accoLtnting poliues ènd then apptytheffl consistent￿. - observe the methods and prlncip18s in th8 Charl￿S SORP: make judgements knd acrxjunting estimales that are reasonable and pruderFt.' - state whether 8pplicable UK Accounting Standards hwe been folk)wed, subieci to any material departures disclosed and explained ift the financtal st8lements, and prepère the fin8rEd81 statements on Ihe going con(£m bèsts ursless it is ￿appropriate to pr8sun¥e that the chaatable ¢ompany will contsnue in buslness. The trustees are responslb18 for kÈeping adequate account1￿j ￿01￿5 which dÉ5clase with re8sonable aocuwy al any time. the financial position (rf the chaiytsble company and th8 group and to enable them to ensu￿ that the financial statemenls comply with th8 Companies Act 2006. They are also ￿sponsi1￿e for safeguarding the assets of Ihe ¢haiitable company and the group and hence for taking reèsonable sl¢ps for Ihe pr8v8nWon and detecbon of fraud and other iwvtarilies. STATEMENT AS TO QISCLOSURE OF INFORMATION TO AUDITORS So far as the tnJslees are aware. there is no relevanl audit infoTmatx)n las defined by Sertion 418 ot the Companies Act 20061 of whtch the h8ritabfe compatty's auditQTS are unawaie. and each irustee has ￿ke￿ all the steps that £hey ought lo have taken as a InJstee ill order to make themselves aware of any relevant infofmatton and to establish that the companls auditOF5 are 8ware of that inforrnatN)n. AUDITORS Th8 audttars, 8K Plus Audit Ltd, will be proposed fof re-appoÈntment in accA)[dar￿ vAlh Ihe special prowsions of Part 15 of the Companie$ Act 2(106. ON BEHALF OF THE BOARD GJTopp Date.. i j :..i.i...i.)..... Page 41 Company Registered Number: 05372378 (England and Wales) Charlty Raglstorad Numbèr.. 1111263 Bemard Leach {St Ives) Trust Limited Independent Auditorfs Report to the MembeTr of Bomard L&ach {St Ivas) Trust Llmlt8d Opinion We have audited the financial slalements of Bemarij Leath ISI Ivesl Trust Limrted (the 'pa￿nI Charrtable ¢ompany'l and ts subsidiaries Ilhe 'group'l for the year ended 31st March 2025 whith comprise Consolidated Ststement of Finanaal Activities and Income and expenditure Accounts, Consolidaled Statement of Financial Position, Charity Statement of Finanaal Position. Consolidated Statement of Cash flows and notes to the financial 51alemenls. including Significant accounting poliues. The finanual reporting framewotk that has been applied in their preparation is applicable law and United Kingdom A¢¢ounting Standards. induding Finanual Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United lQngdom GeneraltyAccepted Accounling P¥actice}. In our opinion the finan￿al statements.. give a true and fair view of the state of the group's and of the pa￿nt tharitable companys affairs as at 31st March 2025 and of the group's surplus for the year then ended., have been property prepared in accordan￿ with United Kingdom Generally A￿pted Accounting Practi￿., and - have been prepare(l in a¢¢ordance wrth the requirements of Il* Companies Act 21￿. Basls for oplnlon We conducted our audit in accordan￿ wth Intemational Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under those standards ale fvrther described in the Audilorfs responsibiltties foi the audit of the financial 51alemenls section of our ieport. We are independent of the group in a¢¢ordance wlh the ethical requ1￿mentS Ihal a￿ ielevanl lo our audit of the finan¢ial slalements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audrt eviden￿ we have obtained is suffiuent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the finanoal 51alemenls. we have concluded that the twuslees. use of the going con￿￿ basis of accounting in the preparation of the finanual slalemenls is appropriate. Based on the work we have performed. we have not idenlffied any material uncertainties relating to events or conditions that, indiwdually or colle¢livety. may cast signifi¢anl doubl on the (J)ariWs abi&ty to continue as a going ¢on¢em for al kasl 12 months from when the finanual statements are authorised for issue. Our responsibilities and the ￿sponSibl1rtles of the Iruslees %Mth ￿spe￿ to going ¢on(tm a￿ desuibed in the relevant sections of this report. Othèr Infomiatlon The other information comprises the infomiation induded in the annual report, other than the finanaal statements and our auditor's report Ihereon. The tIU51ees ale responsible for the other infotmalion contairEd wtthin the annual report. Oui opinion on the financial statements does not cover the other infomalion and. except lo the extent otherwse expli¢iUy slated in our report. we do not express any form of assurance conclusion thereon. In connection wth our audrt of the finan(ial stslemenls. our ￿sponsIbl1rtY is to read the other infom)alion and. in doing so. consider whether the other infomiation is materialty inconsistent ¥Mth the finanaal statements or our knO¥￿edge obtained in the audit or otherwise appears to be materialty misstated. If we identfy such material inconsistenaes or apparent material misstatements. we are required to determine whether this give5 iise to maleiial mi5sl*emenl in the financial slalements themselves. If. based on the work we have performed, we conclude that there is a material misslalement of this other infomiation. we are required lo ￿port that fact. We have nothing to report in this ￿gard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the cout5e of the audit.. the information given in the Report of the Trustees, whith indudes the trustee's report prepared for the purposes of company law, for the finan￿al year for which the finanaal statemenls are prepared is consistent with the financial statements., and - the Iruslee's ￿port induded wrthin the Report of Il* Trustees. have p￿pared in accordan￿ with applicable legal requirements. Page 42 Company Registered Number: 05372378 (England and Wales) Charity R¢gister¢d Number.. 1111263 Bemard Leach {St Ives) Trust Limited Independent Auditorfs Report to the Members of B¢mard L¢a¢h {St Ivesl Trust Limit¢d Matters on which we are required to report by exception In the light of the knovAedge and undetslanding of the group and the paienl company and rts enwronmenl obtained in the course of the audit, we have not identified material misslalemenls in the Iruslee's report indLKleil wtthin Ihe Report of the Trustees. We have nothing to report in respect of the following matters in relation to v+hith the Companies Act 21￿￿ requires us to report to you if, in our opinion.. adequate accounting records have not been kepl by the parent thariiable company, or retums adequate for our audit have not been re￿iVed from branches not visited by us,. or the pa￿nt charitable company's finanaal statements are not in agreement with the accounting records and certain disd05ures of Iruslees, iemuneialion spectfied by law ale not made- or we have not received all the infomiation and explanations we require for our audit., or Responsibilities of trustses As explained mole fulty in the ttuslees. Tespon5ibililie5 Statement set out on page 7. the trustees Iwho are also directors of the charitable company for the purposes of company lawl are ￿sponsible for the preparation of the finanual statements and for being satisfied that they give a true and lair view, and for such internal control as the tnjstees detemiine is ne￿SSary to enable Ihe preparation of finanaal statements that are free from material misstatement, whether due to fraud or e￿Or. In preparing the financial statements, the trustees are responsib￿ for assessing the group's and the parent tharitable company's ability to continue as a going concem, disdosing. as applicable. matters relaled lo going concern and using the going con￿rn basis of accounting unle55 the Iruslees either intend lo liquidate the group or the parent chatrtable company or lo cease operations. 01 have no realistic alletnative but lo do so. Audltor's rasponslbllltlos for th8 audlt of tha financlal statem&nts Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misslatemenl. whether due to fraud or error, and to issue an auditor's ￿port that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that an audit conducted in accordan￿ Trmlh ISAS IUK) will al¥wdyS detect a material misstatement when it exists. Mi55talemenls can arise from fraud or error and are considereil material rf. individualty or in the aggiegale, they could reasonabty be expected lo Influen￿ the economic decisions of users taken on the basis of these finan(ial stslemenls. Irregularities, induding fraud, are instances of non-complian￿ with laws and regulations. We design procedures in line wth our responsibilities, outlined above. to detect malerial misstatements in respect of irregularilies, indudiThJ fraud. The extent to which our pro￿U￿$ are Capable of detecting irregularities. indLKling fraud is detailed below. We obtained an understanding of the legal and regulatory frameworks that are applicable lo Ihe tharitable company al the planning stage of the audit. The charitable company is subject to laws and regulations that directty affect the finan￿al 51alemenls. speafically the Companie5 Act 2006. Charities Act 2011 and Charities Slalement of Re¢ommended Placti￿. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related finanual statement items. The tharitable company is also subject to laws and regulations where the cOnsequen￿S of norFcomplIan￿ could have a malerial effect on amounts or disdosures in the financial statements, for inslance through the imp05ilion of fines or If(igation. In making this a55e55menl we detetmined that the m051 signtficant elemen15 of legislation include those relating lo employments laws and regulations. health and safety standaids. theft and ¢omplian¢e ￿ major funding ¢onlra¢ts. Based on this understanding we designed our audit pro￿vre$ to i¢Jenltfy non-cDmpllan￿ wlh sud) laws an¢J regulations. Our procedures involved the following.. Making enquiries of managemenl regarding their knovAedge of any norpc0mpl1an￿ wth laws and regulations that could affect the financial 51alemen15. As part of these enquiries. we also discus5e(I management change5 in risk assessment relating lo fraud. and whether the￿ have been any known Instan￿$. allegations or suspiuons of fraud. of which there were none. Considering the filing5 made at Companies House and the Charity Commission. and any omission5 Ihereon. of which none were identified. Discussing with management Complian￿ wth health and safety kgislation. induding any refomis lo these. Making enquiries of management and ieviewing chantable company expendrtuie for any eviden￿ of disputes. actual or potential litigation and claims, with ￿gUlatorS or any other suth body- Observing and reviewing the pro¢e(lures ¢arried out during the thatrtable ¢ompanYs sto(* count process. assessing for potential weaknesses that could lead to fraud by theft or any other material misstatement. Page 43 Company Reglstered Number: 05372378 {Englttnd and Wales) Charity Regrstered Number.. 1111263 Bemard Leach {St Ives) Trust Llmited Independent Auditovs Report to the Members of Bernard Leach (St Ives) Trust Llmlted - Reviewmg docufftent8tKJn from lund provtsders lo tesl wheiher funds had been 8ptwopriately claimed and utaised for purw)ses as sel out in the ￿peCtiVe contract temis. Auditing the tisk tsf tRan8gemonl oveFrnle of CA)ntrols. inclLKEing Ihrough testing of joumal entri85 and other adjvstfftents fDr appropriateness, 3nd evaluating the iat101181e for sign*frant transactions outside the noNnal course of busln05s aotiviiies. of whith there were none. RevIe￿ng eslimales and judgements m3de the finan(ial stslernents for any indica￿n of bias and challenged assumplkins used by m8n8gemenl tn m8kiFU the estimates. - Re¥iewing Boarrj minutes and correspondenc£ w*lh regulators to cDrroL¥)r&te the f￿111ngS from the abo¥e. Due to the I￿h￿r0[>1 limitstions of an audit, there remains a rfsk that we may rKFt have delected some material mi5St3te¥nents in the fi.nancial statemenls or non-compli8rKe wth laws and regulations. This is despi￿ the fact that we have property planned and perfomied our audii In accor(Sance with auditing stsndards. F(5r example, the further removed irregularit￿$ are from the events tfafiS8Ctions refiecled irfr Lhe rinancial statements, the less likely the inherenily limited pr￿dureS required by audtting standards would identsfy tt. A5 With any a￿￿$t, the r8lT>3in8d a high ￿sk of non-detection of iregularttles. as these may involve collusion, forgery. intentional omissiDllS, misrepresent8tions. OT the overri(le of intemal cDnlrols. This risk was Teduced by a ttK5wovgh review of 811 controls in place that monitor items and transactions affectsrwJ the finan￿al statements. The primary respoTrsbi ilty for Ihe prevenlion and deteclKJn of i¥regutarttitrs ar￿ fraud rests with the tnjstees of Ihe charitable company. All relevant laws. regulations and S￿nifICant iisks of fr3ud idenlrfed have been dearty communttsted to each memb8rof the audit 8ngag8mer*t team_ We are not Tesponslble lor preventing non-rA)mpliance and cannot bE expected to detect rK)F¥-rX)fflpli8n￿ Wlth all laws and regulations. A further desofiplion of our responsib*"litFes Is 8V8d8ble on the Financial Reporting thjncil's webstte at www.frc.org.ukl3udlt￿yr8SE￿TrS1biI1fyes. This description lo￿S paFt of our auditor's re￿rt. Use of our Feport This report is made 501ely to the ch8ritable parenl company's trustees. as a body.. in aC£Ofdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we moht state to the group's tnjstees those matters we 8re required to stste to them in audilorfs report and lor no other PLtrpose. To the fullest extent permitte(I by 18w, we ¢Jo not 8￿p1 or assume responsibility to anyone ofher thèn the charitable parent ￿paThy and its trustees as a body, foi our audtt work. foT this report, or for the opinions we have fomed. for this report, or for the opini0Trs we have formed. David Hastings FMAAT ACA (SenioT Statutory AEJdtforl For 8n on behaifol 8K Plus Audil Limited, Statutory Auth"lar 3 Chapel Street Redtulh Cornwall TR15 2BY Dale.. Page 44 Company Registered Number: 05372378 {England and Wales) Charity R¢gi$teod Number= 1111263 Bernard Leach (St Ivesl Trust Limried Consolidated Statement of Financial Activities and Income and Expenditure Account and Statement of Re¢ognised Gains and Losses For the Year Ended 31 March 202S Unrestrlctèd Funds 202S Restricted Funds 2025 Totsl Funds 2025 Total Funds 2024 Notes Incomlng Rasourcas Donation5 and lega￿e5 Donations Gran15 Charitable activities Education, training and maintaining wnuseu Aciivities for generating funds Commercial trading operations Other trading activities Investment income 3,2( 1.625 3,206 7.629,309 7,269 985,807 7.627.684 156.527 156.527 149.662 170.084 371,682 30.683 170.084 371,682 30,683 152.734 403,708 1.926 TOTAL INCOMING RESOURCES 733.807 7.627.684 8.361,491 1,701.106 Resources Expended Trading activities Charitable activities Education, training and maintaining museum Support and govemance costs 454,024 454,024 432,364 96,093 245.845 37,500 14.891 133,593 260,736 256,601 208.828 795.962 52.391 848,353 897.793 Nel incoming resources available for charitable application 162,155) 7,575,293 7,513,138 803,313 Balance brought fotward al 1 April 2024 Balance carried forward at 31 March 2025 19 19 469.495 407.340 1.395.481 8.970.774 1.864,976 9.378,114 1,061.663 1.864,976 The Statement of Finan￿al Activities 1￿c￿pOrateS the income and expenditure accounts. The results for the year derive from continuing activities and there are no gains and losses other than those shown above. Page 45 CompaTty Registered Number. 05372378 (England and Wales) Ch3rEty Registered Ntsmber= 1111263 Bemard Leach (St Ivesl Trust Limited Consolidèted Statement of Flnanclal PosEtlon as at 31 Alarch 2025 2025 2024 FIXED ASSETS Tangible Assets Horilage assets 12 13 2,926.677 55.000 2.981.677 1.181.794 55,000 1,236.794 CURRENT ASSETS stock5 Debtors Cash at bank at¥d hand 15 16 24 39.950 4.023.238 2,547,658 6.610.846 40,175 170,OQ9 575,318 785,502 CREDITORS Amounts fèlling dLTre within one year 17 {214.409) (157,320) hlEf CURRENT ASSETS 6,396.437 628,182 TOTAL ASSETS LESS ¢URREhlT LIABIUTIES 9,378,f 14 1,864.976 NET ASSETS 9,378.114 1,864,976 RESERVES Restricted reserves Unrestricted ￿SerVeS 19 19 8,970,774 407,340 1.395.481 469.495 9.378,114 1.864,976 These finanu81 statements have been Pfepared in accordance wth the specièl provisions of Part 15 of Ihe Companies 2006 relatiny trj small companies. The fir>8ncial sfatements were approved and authorised lor issue by trie BoarLI ol Directors on ils behalf by.. 8n¢J weie s*gned on ON BEHALF OF THE BOARD GJTopp rwstee Page 46 C¢)mpany Règlstered Number: 0537237B (England and Wales) Charity Regtstered Number= 1111263 Bernard Leach (St Ivesl Trust LlmSted Charity Statement ijf Financtal Position as at 31 March 2025 2025 2024 FEXED ASSETS Tangible A5￿tS Her¥tage assets Invegtments 12 13 14 2,940,356 55,OQO 1,178.884 55,000 2,995.357 1,233,885 CURRENT ASSETS Stocks Debtors Cash at bAnk arkd in hand 15 16 11,500 4,090,389 2.497,728 6.599.617 12,264 219,222 537.363 768,849 CREDITORS Amourtrt5 f811in9 due wTrthin one yeaT 17 205.3881 1142.8741 NET CURRENT ASSETS 6,394.229 625,975 TOTAL ASSETS LESS CURRENT LIABILITIES 9.389.586 1,859,860 NET ASSETS 9,38a,586 1,859,860 RESERVES Restricted reseNe5 UnY8strictod reserves 19 19 8,970,774 418.812 1.395,481 464,379 9.389,586 1.859.860 Cli41ritys aurplv$ for th¥ fitiaiiual 7.529.72 798, 197 These financial statements have been prepared in acco¥d3nce with the special prDViSiOfE of Part 15 of th8 Compan*&s Act 2006 relating tri small companies. The financial stalements were approved and 8thot15ed for is5ve by Ihe Bo8rd of D￿￿torS on on its behalf by.. and were s¥gned ON BEHALF OF THE BOARD GJTopp Trustee Page 47 Company Registered Number: 05372378 {England and Wales) Charlty Raglstèrod Number: 1111263 Bernard Leach (St Ivesl Tn￿t Limrted Statement of Cash Flows for the Year ended 31st March 2025 2025 2024 Notes Cash flows from oparatlng actlvltlas: Cash generated from opeialion5 Nèt cash provld8d by {us8d Inl op8ratlng actlvltlas 23 3.690,629 3.690,629 1.022,872 1,022,872 Cash flows from Invastlng actlvltl8S: Interest received Purchase of tangible fixed assets Net cash provided by {used inl investing activities 30.683 11,748,972) 11,718,289) 1,926 1882,7701 1880,8441 12 Chango In cash and cash equlvalants In tha raportlng pgrlod Cash and cash equivalents at the beginning of the reporting parlod 1.972,340 142,028 24 575,318 433,290 Cash and cash 8qulval•nts at the 8nd of tho rgportlng parlod 24 2.547,658 575,318 All of the cash Ilows are derived from continuing operations during the above periods Page 48 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 Bemard L¢a¢h (St Iv¢s) Trust Limited Notes to the Finan¢ial Ststem¢rts For the Year Ended 31 March 2025 STATUTORY INFORMATION Bernard Lea¢h 1st Ivesl Tiusl Limited operates in Ihe tourism sector wrthin Comwall. The Charity 15 a private company. liwniled by guarantee. registered in England and Wales. The membeT5 of the company are the Trustees named on page 3. In the event of the Charrty being wound up. the liabilty in respect of the guarantee is limited lo £1 per member. The company was incorporated in England and the wistered number is 1111263. The address of the registered office is Leach Pottery, Higher Stennack, St Ives, Comwall, TR26 2HE These financjal 51alemenls cover a group of entilie5. ACCOUNTING POUCIES Accountlng Convèntlon The finan¢ial slalements have been prepare(l in a¢¢ordan¢e wlh the Chanties SORP IFRS 102} A¢¢ounling and Reporting by Charrties.. Statement of Recommended Practice applicab￿ to charities preparing their accounts in accordance ¥Mth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeth've 1 January 20191., Financial Reporting Slandard 102 'The Finan￿al Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalemenls have been p￿pared under the historical cost convention. as modtfie(I by the ￿valUation of certain assets. The chanty is a public ￿nefit enlty as defined by FRS 102. Group Accounts These financial statements consolidate the resulls of the Charity and ils wholty owned subsidiary, Bemard Leach Enterprises Ltd, on a line by line basis. Al Intra￿roup balances. transaction5. incowne and expenses aTe eliminated on consolidation. The consolidated accounts are prepared using unrfom a¢¢ounling poliues. Capitslisation and Depreciation of Tangible Fixed Assets Individual a55el expenditure below £500 is iiot caprtalised but charged to the SOFA vthen incurted. Inletnal labour 15 capilali5ed when rt relates to an indiwdual asset. This is Ca1￿lated by reference to liwneshee15 and hourfy payroll costs for the individuals involved. Depre￿atIon is piovided at the following annual rates in order lo Nwite off each asset over its estimated usefvl lrfe or, if hekl under a finance lease. over the lease lem) whid)ever is the shorter". Land Buildings Plant and machinery Fixtures and rrttings Motor vehides Computer equipment Straight line over 99 years 33% on Cost 33% on cosl 33% on cosl 33% on Cost H¢ritag¢ assets Donations of heritage assets are recognised as income at the point of receipt as a benefft in kind and induded in the balan￿ sheets based on the estsmated realisable value assuming polential sale. Heritage assets are not depreaaled due to the nature of assets but are subject lo periodic profe55ional valuation. Although this aw)unling poli¢y rs in a¢¢Or(lan￿ the applicab￿ accounting slandartj. FRS 102. rt is a ¢Jeparture from the general requirement of the Companies Act 2006 for all tangible assets to be depreaated. In the opinion of the directors Complian￿ wth the standard is ne￿SSary for the finanaal statemenls lo give a true and fair view. Stocks Stocks are valued at the lower of cost and net realisabje value. After making due allowance for obsolete stock and slow moving r(ems Operating Lease Commitments Rentals appli¢able lo operating leases where subslanlially all the benefits and risks of ownership ￿maIn wrth the lessor are Chargeil to the SOFA over the term ol the ￿ase. Page 49 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 ACCOUNMNG POUCIES - CONTINUED Fund Accountlng General funds are unrestricied fijnds vthith are available for use at the disuetion of the Trustees in ftIrtheran￿ of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds whith are to be used in accordance wlh specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such fvnds are charged against the speafic fund. The aim and use of each restricted fund is sel out in r￿te 19 of the finanaal Statements. Investment income is allocated lo the appropriate fund. Incomo All incoming reSoUr￿S are induded in the SOFA vknen the Charity is legalty entided to the income and the amount can be measured reliably. There is no neiting off of expendrture against income. Grants and Government grants Income from donations or grants is recognised vthen there is evidence of entitlement to the gift, receipt is probable and ils amount can be measured reliabty. In accordance the Chatrties SORP all giants are reC￿nIsed under the performan￿ m(xJel. Gifts-in-kind and donated service5 Gifts-in-kind are included al the value to the Chatty wheie this can be quantffied and a third party is bearing the cost. No value is attributed lo donated staff hours. Expenditure All expenditure is accounted for on an accrual basi5 and has been dasStfied undeT headings that aggregate all costs related to the ¢alegory. Where ¢osls ¢annol be directty attributed to particular hea¢Jings. Ihey have been allocated lo activities on a basis consislenl vmh the use of the resources. Support Costs Support costs a￿ those functions that assist the work of the thanty. but do not directty un¢Jertake charitable work. Support costs can be seen vMhin note 10 and indude the governan￿ costs.. Presentation Currency The presentation currency of the financial statements is the Pound Steding {£) and rounded to the nearest pound. Going Con¢•m The Trustees have reviewed the forecasts for the ￿rIOd through to Marth 2026. Bemard Leach ISI Ivesl Trust Limited has a strong financial position at the ￿p0￿.ng date and is expected to have such in 12 months. The Trustees consider there are no material Un￿rtaIntieS in adopting the going concem basis of accounting. Flnanclal Instrumènts The company has chosen lo adopt the SeLlions 11 and 12 of FRS 102 in re5FWt of finan￿al instruments. lil Finanual assets Basic financial assets, induding trade and other re￿1vab￿, cash and bank balances are inilially recognised at transaction pri￿, unless the artangemenl con51ilutes a finanang Iiansaction. where the transaction is measuied al the present value of future receipts, discounted al a market rale of interest. Basic finanaal liabilrties, induding trade and olheT payables, are inrtialty recognised at transaction price. unles5 the arrangement cons1ilute5 a finanong transaction. vkneie the debt insttumenl 15 measured al the present value of future le￿ip1s. discounted at market rale of interest. Debt instrumen15 are 5ubsequentty catried al amorlised cost. using the effeLlive interest iale method. Page 50 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl Bemard L¢a¢h (St Ives) Trust Limited Judgom¢nts In the application of the Chariws accounting policies. the ttU5tees are requiie¢J lo make judgemen15, estimates and assumptions about the Carryng amount of assets and liabilrties that a￿ not ￿adity apparent from other sources. The estimates and assoualed assumptions a￿ based on historical experience and other fadors that are considered to be relevant. Aciual results may differ from these estimates. No judgements lapart from those involving eslimalesl have been ma¢Je in the pro¢ess of app￿-ng the above accounting policies. The estimales and Under￿ng assumptsons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the e51imale is revised where the rewsion affects that period. or in the period of the revision and future periods Whe￿ the revision affects both Cu[￿nI and futu￿ periods. Pen$ion ¢osts and other po$t-r¢tir¢ment benefrts The charrtable company operates a defined conlribution pension scheme. Contributions payable to the charitable companys pension scheme are charged lo the Slatewnent of Finan(?al Activtties in the period lo which they relate. TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslee5' remuneration or other benefft5 for the year ended 31st March 2025 noi for the year ended 31st March 2024. Trust¢os' ¢xponsos During the year, G Topp was reimbursed £30 {2024'. £niD to cover his travel expenses for attending trustee meetings STAFF COSTS 2025 2024 Wages and salaries Soual security costs Pension costs 411.281 25,293 8,211 444,785 417.844 28,240 8,082 454,166 The total average monthly number of emFdoyees during the reporting period is as follows.. Group Charity 2025 No. 25 2024 No. 24 2025 No. 19 2024 No. The number of employees whose employee benefft5 {exclLKling employer pension c05ts1 exLEeileil £60.000 was.. nil12024'. nil) The pension costs ¢harge ￿preSentS Contributions payabk by the group to the funds and amounted to £8.21212024". £8.0821. AI 31 Marth 2025 £2,313 is owed to the pension stheme12024'. £2,136). NET INCOMEIIEXPENDITURE) The net incomellexpenditurel is stated after thargingllcxeditiThJ)'. 2025 2024 Depre￿atIon of tangible fixed a55ets- owned a55ets Audrtor's remuneration Accountancy fees 4.089 11,715 8.755 4,070 10,900 5.163 Investment income 2025 2024 Deposit account interest 30.683 30.683 1.926 1.926 Page 51 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 DONATIONS AND LEGACIES Group Charity 2025 2024 2025 2024 Donations Grants 3,206 7.629.309 7,269 985.807 18,027 7.629.309 10,858 985.807 7.632.515 993.076 7 647 336 996.665 Grants received inluded in the above are as follows.. Group Charlty 2025 2024 2025 2024 Arts Counal England NPO Comwall Counal National Lottery Heritage FurKJ Other 150,000 768.8 60,116 6.885 150,000 768.8LkS 60,116 6.885 4.129.263 3.498,421 1.625 4,129.263 3,498,421 1.625 7.629.309 985.807 7 629.309 985 807 FINANCING COSTS Group Charlty 2025 2024 2025 2024 Bank and similar Charges 381 381 382 382 249 249 278 278 TAXATION Bernard Leach (St Ivesl Trust Limited No liabilty to UK corporation tax arises on ordinary activtties for the Chartty for the yeai e[￿e￿ 31 March 2025 because of the charitable stslus. Bernard Leach Enterprises Limited The trading subsidiary, wa5 subject to UK corpoTalion tax. Theie wa5 no tax charge in the yeai as the proffts have been distributed to the pa￿nt ¢harity- Deferred lax is ￿cOgnised in respect of all liming drflerences that have oiiginaled bul not reversed al the slalemenl of financial position date. Timing drfferences arise from the indusion of income an¢J expenses in lax assessments in periods different from those in which they are recognised in finanual statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by Ihe year end and that are expected to appty to the reversal of the timing drfterence. Page 52 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 10 CHARITABLE ACTIVITIES EXPENDITURE 2025 202S 2025 2024 Unrpslricted Restricted Total Total Funds Funds Funds Funds Educatlon. tralnlng and malntslnlng museum Wages and salaries Soual security Pensions Marf(eting and audience development Cost of direct Charitable activrties Education programme Museum expenses 24,231 3.557 1,030 9.761 7,737 36.035 4,942 87.293 37.500 61,731 3.557 1,030 9.761 7,737 46.035 4.942 134.793 152,400 2,770 13,941 16,302 55.033 8.491 257.801 10.000 47.500 Support costs Wage5 and Salaries Social security Pensions Premises costs Finance Costs Office costs Professional costs Sundries 153.364 8.574 3.440 55,305 249 13,946 1.558 5,897 153.364 8,574 3.440 58,638 249 13,946 1.558 5,897 80.007 7,068 1.936 85,129 278 17,520 633 5,307 3,333 242 333 245.666 197 878 Governance costs Auditors remuneration Accountancy 7,470 7.100 7,470 7.100 6,950 4.000 The above figures relate solety to Bemard Leach {Sl Ivesl Trust Limited. All expenditure incuTred by Bemard Leach Enterprises Ltd is induded in cos15 of generating fvnd5 as commercial trading operations w￿(bin the con501idaled 51alemenl of financial activitie5 on page 34. INCOME FROM CHARITABLE ACTMTIES Group 2025 2024 Unr¥$tri¢ted lund$ Education, training and maintaining museum Entrance fees Education programme 31,933 124,594 41,986 107,676 156.527 149.662 Page 53 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 12 TANGIBLE FIXED ASSETS Group Land and PLqnt and Fix￿￿0$ and Buildings Machinory fitting8 COST OR VALUATION Al 1 April 2024 Addrtions 1.212.770 38.937 19,741 1.748.472 2.961.242 Al 31 March 2025 38.937 19.741 DEPRECIATION Al 1 April 2024 Charge foi year Al 31 March 2025 33.886 3.333 37.219 36.144 559 36.703 19.741 19.741 NET BOOK VALUE Al 31 March 2025 2.924.023 2.234 At 31 Marth 2024 1 178 884 Computor Equipment Total COST OR VALUATION At 1 April 2024 Addrtions Al 31 March 2025 6.386 500 6.886 1,277,834 1,748,972 3,026,806 DEPRECIATION Al 1 April 2024 Charge lor year Al 31 March 2025 6.269 197 6.466 96,040 4.089 100.129 NET BOOK VALUE Al 31 March 2025 420 2 926 677 Al 31 March 2024 117 1 181 794 Page 54 Company Registered Number. 05372378 (England and Wales) Charity Registered Number- 1111263 B•mard Laach (St Ivas) Trust Llmltad Notes to tha Flnanclal Statsments Icontlnuadl For the Year Ended 31 March 2025 12 TANGIBLE FIXED ASSETS- CONTINUED Charity LarMI and Plant and Fixture5 and Buildings Machinory fittin98 COST OR VALUATION Al 1 April 2024 Addf(ions Al 31 March 2025 1.212.770 1.764.472 2.977.242 26.457 19.741 26.457 19.741 DEPRECIATION Al 1 April 2024 Charge foi year Al 31 March 2025 33.886 3.333 37.219 26.457 19.741 26.457 19.741 NET BOOK VALUE Al 31 Mar¢h 2025 2 940 023 At 31 March 2024 1.178.884 Computer E4uipmont TOMI COST OR VALUATION At 1 April 2024 Addrtions Al 31 March 2025 5.218 500 5.718 1,264,186 1,764,972 3,029,1 $8 DEPRECIATION At 1 April 2024 Charge for year Al 31 March 2025 5.218 167 5.385 85,302 3,500 88,802 NET BOOK VALUE Al 31 March 2025 333 2 940 356 At 31 Marth 2024 1 178 884 Included wthin the net book value of Land & Buihjings above is £292.781 (2024.. £296,114) represented by Long Leasehold Property. Page 55 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 13 HERITAGE ASSETS Group and Charity Total PIARKET VALUE At 1 April 2024 and 31st March 2025 55,000 NET BOOK VALUE At 31 March 2025 Al 31 March 2024 Heritage assets Consist of the charitys own collection of polte￿ go(Kls and other museum exhibrts The Charity first acquired this ¢olle¢lion in the year ended 31 March 2013 Whe￿ they were ￿cOgnised based on an estimate of their ¢arrying value. These have been subject to periodic valuations. 14 FIXED ASSET INVESTMENTS Charity Shar¢$ in group undartaklngs Al 1 April 2024 and 31 March 2025 NET BOOK VALUE". Al 31 Mar¢h 2025 At 31 March 2024 The group and the companls investments at the slalement of finanaal posrtion dale in the Sha￿ caprtal of companies indude the following.. Subsidiary= Bemard Leach Enterprises Ltd Company number: 05965856 (England and Wales) Nature of busine$$= Trading subsidiary in the UK Class of shares.. Ordinary shares °A holding.. 100% Address: Leach Pottery, Higher Stennack. St Ives. Cornwall. TR26 2HE 2025 2024 Aggregate capital and reserves Profit I (Lossl for the year 4.529 14.233 5.117 Commercial Trading Activitie5 of Subsidiary The Charity has a wholty owned trading subsidiary, Bemard Leath Enterprises Limited, which is incorporated in the UK. The prinupal activity is that of the manLrfacture and wholesak of pottery and assouated goods. A summary of its results are shown below. Page 56 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 Bomard L¢a¢h (St Iv¢s) Trust Limited Notss to th¢ Finan¢ial Stst¢ments l¢ontinu¢dl For the Year Ended 31 March 2025 14 FIXED ASSET INVESTMENTS- CONTINUED Summary Profit and Loss Account 2025 2024 Tumover 238.541 1184.6661 114,4471 125,1951 196,553 1143.9031 118,4171 125,5281 Cost of sales Distribution costs Administrative expenses Other opeialing income Tax on piofil Profit I (Lossl for the finanaal year 14,233 8,705 The assets and liabilities of the subsidiary at 31 Marth were.. Tangible asse15 Current assets Credf(ois.' Amount5 falling due within one year Piovisions for liabilities 2,322 110,770 1108,563} 2,910 84,655 182,4481 Total nel liabilitie5 4.529 5,117 Shale capital Aggregate reserves 4,528 4.529 5,118 5,117 The results of the subsidiary have been consolidated into the group finanual statements. 15 STOCKS Group Charity 2025 2024 2025 2024 Shop stof Wholesale stock 11.500 28.450 39.950 12,264 27.911 40.175 11,500 12,264 11.500 None of the above stock has been pledged as seujrrty against any liabilities. 16 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charlty 2025 2024 2025 2024 Trade debtors Amounts owed by group undertakings VAT Other debtors Prepayments and a¢¢rued income 3.%3.647 170.009 3.931.255 95,901 28.309 34,924 151.220 64,285 3.737 24.667 34,924 4.023 238 170.009 4.090 389 219 222 Page 57 Company Registered Number. 05372378 (England and Wales) Charity Registered Numb¢r= 1111263 8emard Leach (St Ives) Trust Limited Notes to the Financial S&*ements Icontinuedl For th¢ Year Ended 31 Mar¢h 2025 17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charlty 2025 2024 2025 2024 Trade ctedilors Soual security and other taxes VAT Other creditors Accruals and deferred income 13.911 6,937 37.773 10,477 4.007 2,136 102.927 157.320 13.296 4,945 35.620 8,218 2.314 191,247 214,409 1,800 185,347 205.388 1,599 97,437 142 874 18 SHARE CAPITAL The Charitable Company is limiied by guarantee and does not have a share capital. 19 RESERVES Group Un￿Stricted Reserve5 Restrr¢tsd Reserves Total Al 1 April 2024 Retained Surplus I (defi￿lI for the year Al 31 March 2025 469.495 62.155 407.340 1.395.481 7.575.293 8 970.774 1.864.976 7.513.138 9378114 Charity Unrestricted Restricted Re5erve5 Re5erve5 Totsl Al 1 April 2024 Retained surplus I Idefiotl for the year At 31 March 2025 464.379 45.56 418.812 1,395.481 7,575.293 8.970.774 1,859,880 7,529.726 g 389 586 Induded within the above reserves.. Page 58 Company R•gtstèr•d Number: 05372378 IEngland and wa￿$) Charlty Regkstered Number: 1111263 Bèmard L•ach (St Iv•sl Trust Limitèd N4)tes to the Financial Statements (continued} For the Year Ended 31 March 2025 20 ANALYSIS OF GROUP NET ASSEfs BETWEEN RESTRICTED FUNDS Group and Charity Capitsl development fund Leach 100 General Restricted Balan￿ at 1 April 2024 Income Expendrture Balance at 31 March 2025 971.152 7,627,684 11,5581 8.597.278 8.215 296.114 13.333 292.781 8.215 Represented by.. Fixed Assets Debtors Bank Creditors 2.474.797 3.891.368 2,383,405 1152,2921 8.597.278 292.781 8,215 292.781 Council Culture NPO 2023 -2026 Total Restricted Funds Balance at 1 April 2024 Income Expenditure Balance at 31 March 2025 20,000 100,000 1,395,481 7,627,684 152.391 8 970 774 110,0001 37,5001 Represented by: Fixed A55els Debtr)rs Bank Gredilots 2.767.578 3,963,868 2,391.620 1152.292 8 970 774 10,000 62,500 Restricted funds Unrestri¢tsd funds Total funds Group Balance at 1 April 2024 Income Expendrture Bal8Th￿ at 31 March 2025 1,395,481 7.627,684 {52.3911 8.970.T14 469,495 733.807 1795,9621 407,340 1.864,976 8.361.491 1848,3531 9.378,114 R•striettd funds Unrèstrietèd funds Total funds Charity BalaTh￿ at 1 April 2024 Income Expenditure Balance at 31 March 2025 1,395,481 7,627.684 52.391 8,970.774 464,379 614,444 660.011 418,812 1.859,860 8.242,128 712.402 9,389,586 General Restricte(I". Restricted funds are to te used for SFecific purposes as laid do￿ by the donor. Page 59 Company Rtgistèr•d Numbèr: 06372378 (England and wa￿$) Charlty Reglstered Number: 1111263 Bèmard L•ach (St Iv•sl Trust Limitèd Notes to the Financial Statements (continued} For the Year Ended 31 March 2025 20 ANALYSIS OF GROUP NET ASSEfs BETWEEN RESTRICTED FUNDS- CONnNUED Leach 100.. Gelebraling a Centenary of Inspiration and Exthange Leach 100 is funded by Art5 counul England. Cornwal Counryl. GB Sasakavrd. Garfield Weston Foundalion. Itusts and foundations. Capital Development Fund". The purpose of this fvnd is to devdop the site into a key Ca￿MUnty as￿t. coun￿1 Culture The purpose of this fund us to supr(wi a programme of cthral and creative acbvibes for the local community. NPO 2023-2026 The purpose of this fvnd is ft>rth relating to the NalK)nal Pi¢)Ifolio Organisation fvnding received. 21 RESULTS OF PARENT COMPANY The SOFA and Income and Expenditu￿ Account of the parenl charilable company is not presented as part of these finanaal statements. The parent charitable companls surplus for the financial year was £7,529,72612024'. £798,197>. The exemption conferred by s408 ofthe Companies Aci 20¢A is being relied on. 22 FINANCIAL INSTRUMENTS Group The carwng amount of the group's finanaal instruments are as folows.. 2025 2024 Financial assets that are debt instruments measured al amorlised cost". Trade debtors Inote 161 3,963,647 170,009 3.998.571 170.009 Financial liabilities measured at amortised cost.. Trade creditors Inote 17 13.911 37,773 13,911 37,773 Charity The carwng arnounl ofthe Chariws finan(ial instrumwts are as foll(Y4VS'. Financial assets that are debt inslrurnents measuTed at amorlised cost.. Trade debtors Inote 16 Other debtors (note 161 - Amounts owed by group undertakings Inole 161 3,931,255 34,924 95.901 151,220 64,265 4,062,080 215,485 Financial liabilities measured at amortised cost: Trade creditors Inote 17} 13.296 35.620 13,296 35,620 Page 60 Company Rtgistèr•d Numbèr: 06372378 (England and wa￿$) Charlty Reglstered Number: 1111263 Bèmard L•ach (St Iv•sl Trust Limitèd Notes to the Financial Statements (continued} For the Year Ended 31 March 2025 23 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTMTIES 2025 2024 Nét incomèllexpÈndiiur•l for th• rèporting ￿rItsd las pèr th• statèmènt of flnanclal actlvltlesl Depreciation and arnortisation expense Interest received Ilncreaselldecrease in strK*s Ilncreaselldecrease in debtors Increaselldecreasel in creditors Net cash provlded by (used Inl operatlng actlvltles 7,513,138 4.089 130.6831 225 13,853,229) 57.089 3.690,629 803,313 4,070 11.9261 111,5681 112,535 116,448 1,022.872 24 ANALYSIS OF CASH AND CASH EQUIVALEMTS 2025 2024 Cash in hand Cash at bank Total cash and cash equlvalents 1,194 2,546.464 2,547,658 1,053 574,265 575,318 25 RELATED PARTY DISCLOSURES Control The Trustees, detailed on page 2, share uth.mate contriA. Transactions and Balane•s The ft>llowing transactions occutred ithRen Bemard Leath ISI Ivesl Trust Limit￿ and Bemard LeaGh Enterprises Litnited. a whol owned subsidiary.. 2025 2024 Management tharge from Bernaid Leach {St Ivesl Trust Limited to Bemard Leach Enletpfises Lirniled 18,000 18,000 Kiln firing retharges frorn Bemard Leath ISI Ive5} Trust Litniteil to Bemar(l Leach Enleryjrises Lirnited 17,900 18,292 AC￿Mm[￿lation rent from Bemard Leach (St l¥esl Tw5t Limite(I to Bemattl LeaGh Enlerprises Lirnited 400 Use of resources recharged from Bemard Leach Enterprises Limited to Bemard Leach {St Ivesl Trust Limited Sale of stock for resale from Bemard Leach Enterprises Limit&J to Bemard Leach {St Ivesl Trust Limited 1.200 1.200 51.257 42.619 Consultancy servi￿5 for new kiln deS￿n from Bemard Leach Enterprises LimTted lo Bemard Leach (St Ivesl Trust Limited Donation of profft from Bemard Leach Enterprises Limiled to Bemard Leach ISI Ivesl Trust Limited 16.000 119178 82.485 At the 31 March 2025 Bemard Leach Enterprises Limited owed £95.￿1 to Bemard Leach (St Ivesl Trust Limited 12024.. £64,2651. This balance is unsecured and repayatrje on demand. No interest has teen charggj. Total donations made by trustees in the yearwere £012024.. £01. Key Management Personnel The charity's key managernent personnel in the year comprises the Pottery Director onty. The aggregate remunerdtion of key management personnd in the yearwas £56.31812024'. £54.5231. Page 61 Company Registered Number. 05372378 (England and Wales) Charity Regist¢red Numb¢r= 1111263 Bernard Lea¢h (St l¥esl Trust Limited Notes to the Financial Statements {continuedl For tho Yaar Endad 31 March 2025 26 COMPARATIVE STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024 Unrastrlct8d Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Incoming Resources Donations and legaues Donalions re￿iVed Grants Charitable activities Education. training and maintaining museum Activities for generating funds Commercial trading operations other trading activits'es Investment income 7,269 7,269 985.807 3.938 246.872 985.807 149.662 149.662 167.840 152.734 403.708 1.926 152.734 403,708 1.926 154.463 389.663 438 TOTAL INCOMING RESOURCES 715.299 985.807 1.701.106 963.214 Resources Expended Trading activities Charitable activities Support costs 432,364 182.865 205.495 432,364 256.601 208,828 426,811 230.595 179,260 73,736 3,333 820,724 71,069 897,793 836,666 Nel incoming resources available for charitable application 1105,425} 908,738 803,313 126,548 Balance brought fotward al 1 April 2023 Balance Carried forward al 31 March 2024 574.920 486.743 1.￿1.663 935.115 The Statement of Finanual Activities incorporates the income and expenditure accounts. The results for the year derive from continuing activities and there are no gains and losses other than those shown above. 27 CAPITAL COMMITMENTS As al 31 Maich 2025 the Chatity had capital ojmwnttments of £2.123.206 {2024'.£133.0801 in relation to building works for the Capital Development Project. 28 SECURED DEBTS Bernard Leach (St Ivesl Trust Ltd has given security to Comwall Counul by way of a fixed tharge of the propety of the company in relation to the grant re￿iVed in the year for the capf(al development Project. 28 CONTINGENT ASSETS The Museum Eslale an¢J Development Fund IMENDI is a wnultpyear giant that provides foT the expenditure towards the ongoing Capital Proje¢t. The income in respect of firture periods has not been induded in the current year a¢¢ounts. wlh the Charity lo re￿1ve a total of £715,000 over the length of the agreement from ils commencement. Page 62 Company Registered Nurnber. 05372378 (England and Wales) Charity Regi$t¢red Numb¢r= 1111263 Bernard Leach (St Ivesl Trust Limited Consolidated Income and Expenditure Account For the Year End¢d 31 Mar¢h 2025 2025 2024 TURNOVER Sales 170,084 3.206 7.629.309 371.682 30,683 31,933 124.594 152,734 7,269 985.807 403.708 1,926 41,986 107,676 Donations Grants Trust trading Deposit account interest Entrance fees Education programme 8.361.491 1,701,1C6 Trading activiti•s Subsidiary Irading costs Cost of sales 188,408 183.846 76.212 4.363 151,156 204,542 71,968 3.671 Wages and salaries Soual security Pensions 1.195 1.027 454.024 7,907,467 432.364 1,268,742 GROSS PROFIT Charitable activities Wages and salaries Soual security Pensions 61.731 3,557 152.400 8,864 2,770 13.941 15.102 55,033 8.491 Marketing and audience dev Cost of direct charitable act Eduealion programme Museum expenses 9.761 7.737 44,835 4.942 133.593 256.601 7.773,874 1,012,141 EXPENDITURE Wages and salaries Soual security Pensions 153.364 8,574 80.007 7,068 1,936 85,129 278 Premises Costs 58.638 249 Finance costs Office costs 13,946 17,520 633 Professional costs Sundiies Auditors, remuneration 6.397 7.470 7.1(Kl 5.307 6.950 4.000 Accountancy 260,736 208,828 SURPLUS FOR THE YEAR BEFORE TAX 7,513,138 803,313 Page 63 Company Registered Number. 05372378 (England and Wales) Charity Regi$t¢red Numb¢r= 1111263 8ernard Leach (St Ives} Trust Limited Income and Expenditure Account For th¢ Year Ended 31 Mar¢h 2025 2025 2024 TURNOVER Donations 18,027 7,629,309 389.582 30.683 31,933 10,858 985,807 422.000 1.926 41,986 400 Grants Trust trading Deposit account interest Entrance fees Beag￿ Cross income Eduealion programme Management fees 124.594 18,000 107,676 18,000 8.242.128 1.588.653 Tradlng actlvltlas Cost of sales 235.603 76.212 4.363 247,161 71,968 3.671 Wages and salaries Soual security Pensions 1.195 1,027 317.373 7,924,755 323.827 1,264,826 GROSS PROFIT Charitable a¢tivities Wages and salaries so￿al security Pensions 61.n1 3.557 1.030 9.761 7,737 46,035 4,942 152,400 8,864 2,770 13.941 16,302 55,033 8,491 Marf(eting and audience dev Cost of direct charitable act Education programme Museum expenses 134.793 257,801 EXPENDITURE Wages and salaries so￿al security Pensions 153,364 8.574 3.440 80,007 7,068 1,936 85.129 278 Premises costs 58.638 249 Finance costs i J.J_ offi￿ cos15 13,946 1.558 17,520 633 Professional Costs Sundries 5.897 7,470 7.1(K) 5.307 6,950 4.000 Audrtors, remuneration Accountancy 260,236 208,828 SURPLUS FOR THE YEAR 7,529,726 798,197 Page 64