Registered number: 05415828 **SHERINGHAM MUSEUM NORFOLK TRUST LTD DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** Caroline Sands & Associates LLP Chancellor Cottage 46 Holway Road Sheringham Norfolk NR26 8HR ## **Sheringham Museum Norfolk Trust LTD Contents** ||**Page**| |---|---| |Company Information|1| |Directors' Report|2| |Accountant's Report|3| |Income and Expenditure Account|4| |Balance Sheet|5—6| |Notes to the Financial Statements|7—8| |The following pages do not form part of the statutory accounts:|| |Detailed Income and Expenditure Account|9| **Sheringham Museum Norfolk Trust LTD Company Information For The Year Ended 31 January 2026** |**Directors**|Mr Charles Chappell| |---|---| ||Mrs Rosemary Smith| ||Mr Nicholas Wallace| ||Ms Mhairi Campbell| ||Mrs Wendy Austin| |**Company Number**|05415828| |**Registered Office**|The Mo| ||Lifeboat Plain| ||Sheringham| ||Norfolk| ||NR26 8BG| |**Accountants**|Caroline Sands & Associates LLP| ||Chancellor Cottage| ||46 Holway Road| ||Sheringham| ||Norfolk| ||NR26 8HR| Page 1 ## **Sheringham Museum Norfolk Trust LTD Company No. 05415828 Directors' Report For The Year Ended 31 January 2026** The directors present their report and the financial statements for the year ended 31 January 2026. ## **Directors** The directors who held office during the year were as follows: Mr Charles Chappell Mrs Rosemary Smith Mr Nicholas Wallace Ms Mhairi Campbell Mrs Wendy Austin ## **Statement of Directors' Responsibilities** The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Small Company Rules** This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. On behalf of the board Mr Nicholas Wallace Director 20/04/2026 Page 2 ## **Sheringham Museum Norfolk Trust LTD Accountant's Report For The Year Ended 31 January 2026** ## **Report to the directors on the preparation of the unaudited statutory accounts of Sheringham Museum Norfolk Trust LTD for the year ended 31 January 2026** In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Sheringham Museum Norfolk Trust LTD for the year ended 31 January 2026 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us. As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations. This report is made solely to the directors of Sheringham Museum Norfolk Trust LTD, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Sheringham Museum Norfolk Trust LTD and state those matters that we have agreed to state to the directors of Sheringham Museum Norfolk Trust LTD, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheringham Museum Norfolk Trust LTD and its directors, as a body, for our work or for this report. It is your duty to ensure that Sheringham Museum Norfolk Trust LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sheringham Museum Norfolk Trust LTD. You consider that Sheringham Museum Norfolk Trust LTD is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit of the accounts of Sheringham Museum Norfolk Trust LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. Caroline Sands and Associates LLP 20/04/2026 Caroline Sands & Associates LLP Chancellor Cottage 46 Holway Road Sheringham Norfolk NR26 8HR Page 3 ## **Sheringham Museum Norfolk Trust LTD Income and Expenditure Account For The Year Ended 31 January 2026** |**Notes**
**TURNOVER**
**GROSS SURPLUS**
Administrative expenses
**OPERATING DEFICIT**
Interest payable and similar charges
**DEFICIT FOR THE FINANCIAL YEAR**|**2026**
**£**
66,405
66,405
(172,728)
(106,323)
(30)
(106,353)|**2025**
**£**
117,731| |---|---|---| |||117,731
(171,955)| |||(54,224)
(31)| |||(54,255)| The notes on pages 7 to 8 form part of these financial statements. Page 4 ## **Sheringham Museum Norfolk Trust LTD Balance Sheet As At 31 January 2026** |**Notes**
**FIXED ASSETS**
Tangible Assets
**4**
**CURRENT ASSETS**
Debtors
**5**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within**
**One Year**
**6**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**RESERVES**
Other reserves
Income and Expenditure Account
**MEMBERS' FUNDS**|**2026**
**£**
**£**
1,307,496
1,307,496
9,236
144,491
153,727
(6,190)
147,537
1,455,033
1,455,033
1,119,295
335,738
1,455,033|**2026**
**£**
**£**
1,307,496
1,307,496
9,236
144,491
153,727
(6,190)
147,537
1,455,033
1,455,033
1,119,295
335,738
1,455,033|**2025**
**£**
**£**
1,376,845
1,376,845
19,426
171,484
190,910
(6,369)
184,541
1,561,386
1,561,386
1,119,295
442,091
1,561,386|**2025**
**£**
**£**
1,376,845
1,376,845
19,426
171,484
190,910
(6,369)
184,541
1,561,386
1,561,386
1,119,295
442,091
1,561,386| |---|---|---|---|---| |||1,307,496
147,537||1,376,845
184,541| ||153,727
(6,190)||190,910
(6,369)|| |||||| |||1,455,033||1,561,386| |||1,455,033||1,561,386| |||1,119,295
335,738||1,119,295
442,091| |||1,455,033||1,561,386| Page 5 ## **Sheringham Museum Norfolk Trust LTD Balance Sheet (continued) As At 31 January 2026** For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. On behalf of the board Mr Nicholas Wallace Director 20/04/2026 The notes on pages 7 to 8 form part of these financial statements. Page 6 ## **Sheringham Museum Norfolk Trust LTD Notes to the Financial Statements For The Year Ended 31 January 2026** ## 1. **General Information** Sheringham Museum Norfolk Trust LTD is a private company, limited by guarantee, incorporated in England & Wales, registered number 05415828. The registered office is The Mo, Lifeboat Plain, Sheringham, Norfolk, NR26 8BG. ## 2. **Accounting Policies** ## 2.1. **Basis of Preparation of Financial Statements** The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. ## 2.2. **Turnover** Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. ## **Sale of goods** Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. ## **Rendering of services** Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. ## 2.3. **Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |Freehold|15| |---|---| |Leasehold|15| |Plant & Machinery|15| |Fixtures & Fittings|15| ## 3. **Average Number of Employees** Average number of employees, including directors, during the year was: |Office and administration|**2026**
1
1|**2025**
1| |---|---|---| |||1| Page 7 **Sheringham Museum Norfolk Trust LTD Notes to the Financial Statements (continued) For The Year Ended 31 January 2026** ## 4. **Tangible Assets** |**Cost**
As at 1 February 2025
As at 31 January 2026
**Depreciation**
As at 1 February 2025
Provided during the period
As at 31 January 2026
**Net Book Value**
As at 31 January 2026
As at 1 February 2025
5.
**Debtors**
**Due within one year**
Other debtors
6.
**Creditors: Amounts Falling Due Within One Year**
Trade creditors
Other creditors|**Land &**
**Property**
**Leasehold**
**£**
1,970,721|**Land &**
**Property**
**Leasehold**
**£**
1,970,721|**Fixtures &**
**Fittings**
**£**
27,524|**Total**
**£**
1,998,245| |---|---|---|---|---| ||1,970,721||27,524|1,998,245| ||598,074
68,632||23,326
717|621,400
69,349| ||666,706||24,043|690,749| ||1,304,015||3,481|1,307,496| ||1,372,647||4,198|1,376,845| ||||**2026**
**£**
9,236
**2026**
**£**
6,190
-
6,190|**2025**
**£**
19,426| |||||**2025**
**£**
6,156
213| |||||6,369| ## 7. **Company limited by guarantee** The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. Page 8 **Sheringham Museum Norfolk Trust LTD Detailed Income and Expenditure Account For The Year Ended 31 January 2026** |**TURNOVER**
Sales
**GROSS SURPLUS**
**Administrative Expenses**
Wages and salaries
Rates
Light and heat
Repairs and maintenance
Cleaning
Computer software costs
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telecommunications
Accountancy fees
Legal fees
Depreciation
Sundry expenses
Sundry type A
**OPERATING DEFICIT**
**Interest payable and similar charges**
Bank charges
**DEFICIT FOR THE FINANCIAL YEAR**|**2026**
**£**
**£**
66,405
66,405
36,764
1,162
10,825
-
6,851
4,810
25,782
9,071
151
-
1,558
1,175
1,878
69,349
375
2,977
(172,728)
(106,323)
30
(30)
(106,353)|**2026**
**£**
**£**
66,405
66,405
36,764
1,162
10,825
-
6,851
4,810
25,782
9,071
151
-
1,558
1,175
1,878
69,349
375
2,977
(172,728)
(106,323)
30
(30)
(106,353)|**2025**
**£**
**£**
117,731
117,731
27,320
1,269
9,412
7,073
6,387
2,495
28,070
8,750
1,191
393
1,490
588
490
73,160
585
3,282
(171,955)
(54,224)
31
(31)
(54,255)|**2025**
**£**
**£**
117,731
117,731
27,320
1,269
9,412
7,073
6,387
2,495
28,070
8,750
1,191
393
1,490
588
490
73,160
585
3,282
(171,955)
(54,224)
31
(31)
(54,255)| |---|---|---|---|---| ||30||31|| |||(106,323)
(30)||(54,224)
(31)| |||||| |||(106,353)||(54,255)| Page 9