Charlt¥ reclrtrailon number 1115451
Company re8lstratlon number 047911361En8land and Wales)
THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Truste•s
Colonel {Retiredl Brlan M Gorski MBE DL
Msc
Colonel IRetiredl Jarne5W Denny MBE
Lieutenant Colonel lain M Hallam
Mrs Karan P Lee
Mrs Joanne A Marsh
Mr Peter Metc3lfe FCA
Mr James E Bentley
Mrs Grace Mehta
Mr Abed Hussaln
Mr Glyn R Potts
(Appointed 5 June 20251
(Appointed 18 December 20241
(Appointed 17 January 20251
(Appointed 24 January 20251
Secretary
Mr J Harwood
tharlty number
1115452
Company number
04791136
Re8lstered offlce
Moss Street
Bury
Lancèshlre
BL9 ODF
Audltor
Mitchell Charlesworth {Audit) Limited
3rd Floor
44 Peler Street
Manchester
M2 5GP
Bankers
Barclays 8ank plc
I Central Sireet
The Rock
Bury
Lancashire
BL9 OJN

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
P4ge
TfUStees' report
Independent audltor's report
Statemenr of financial activSiies
io
Balance sheel
li
Statement of cash flows
12
Notes to the financial staiements
13-26

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present thelr annual report and financlal ststements for the year ended 30 September 2024.
The financlal statements have been prepared in accordance wlth the accounting pollcies set out In note I to the flnancial
statements and comply wlth the charlty's 8overnln8 document, the Companies Act 2006 and "Accountin8 and Reportln8 by
Charitie5.' Statement of Recommended Practice applicable to charitie5 preparing thelr 3ccount5 in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {effective l January 2019).
Objertlve5 and actlvltSes
Objectives and Activities of the museum are to:.
Collert, preserve and interpret anefacts and records from the Regiment's history for the beneflr of the wider communilv,
Raise awareness and conirlbuie to ihe understandlng ol ihe Reglment's actlvltles.
Celebrate and mark Its relationship with the towns of Bury and Rochdale and the City of Salford {the Re8lments' Freedom
towns and main recrultin8 areas), and their people, and so develop local pride and sense of place.
Encoura8e young people to learn about Regimental and related history.
Interpret It5 collections from the widest perspectives to make them relevant to all people irrespectSve of age, race or disability.
Raise awareness and conirlbuie to ihe understandlng of the Re8Sments and the Army.
Public benefit
The Fusilier Museum 8ury. preseNes and presents for the benefil of the publlc and Regiment, key elements In the natlon's
hlstory in the context of two Reglments.. holdin8 the collection of the Lancashire Fusiliers and the Royal Regiment of Fusiliers,
the modern regiment into which the Lancashire Fuslliers were amalgamated in 1968. It plays a fundamental role In the
education of audience5 in the region and 15 an e55ential part of the cultural quarler of Bury providing • key vi51tor attraction in
the town and re8ion.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due
re8ard to the public beneflt guidance published by ihe Charlty Commission for England and Wales.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achlevements and perforrnanco
Rlsks
The primary risks to the museum be summarised as follov45-.
11 Chan8es In grant funding sources,
21 Change in MOD support.
Jl Buildlng malntenance costs.
41 Vlsitor nurnbe￿.
Summary
The museum is In a stable financlal posltion. It has a pro8ram of fulure events which we trust wlll contlnue to attract vlslto
to ihe museum.
The Board of trustees would like to make a special mention of the support provided by the Metropolitsn Borough of Bury, the
Army Museums Ogilvy Trust. the National Army Museum, the National Heritsge Lottery Fund and the Arts Council for their
coniinued support.
Flnancl•l Inslruments
Oblectl¥e5 ond polkles
The charily's actlvilies expose It lo a number of financlal r15ks includln8 credit risk, cash flow rlsk and Ilquldlty r15k.
Coshflow rlsk
The Charity's activities expose It prlmarily to the flnancial rlsks of changes In interest fate5. Interest bearin8 assets and
Ilabilitles are held at flxed rate to ensure certainty of cash flov￿.
Credlt rfsk
The Charity's principal financial assets are bank balances and cash and trade and other receivables. The Charity's credlt risk Is
primarily attrlbutable to Its trade receivables. The amounts presented in the balance sheel are net of allowances for doubtful
recelvables.
The credit risk on Ilquid funds is Ilmited because the counterparties are bank5 With high credlt-ratin85 a5518ned by
international credit-rating agencies.
The charity has no significant concentratlon of credit risk. with exposure spread over a large number of counterparties and
customers.
Llquldlty rlsk
In order to malntain liquidity to ensure that sufficient funds are avallable for on8oin8 operatlons and futu￿ developments, the
Charity U5e5 o mixture of long-term and 5hort-term deposits.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Flnanclal re¥lew
Income and endowments have Increase significantly in the year to 30 September 2024 compared to the prevlous year, risln8
from £384,800 in the year to 30 September 2023 to £520.9IXI in the year to 30 September 2024. Th15 ha5 resulted In a surplus
in for the current year of £154,737 compared to a surplu5 in the previous year of £117,618.
We continue to be 5UPPOrted on an annual basis by both 8ury MBC and the Rt)yal Re8lment of Fu5ilier5.
At the year end ihe Balance Sheei shows a healthy posltlon wlth net currenl assets of £324,358.
Reserve5 pollry
The museum continues to hold £150k in reserle. Thls reserve, In the oplnlon of the trustees, Is required to brld8e the gap
between expenditure and Income to cover unplanned emer¥ency repairs andlor other expenditure which may arlse.
Strurture, 8overnan¢e and mana8emert
The Fusilier Museum Bury. is A registered independent Charity and a Company LimSted by Guarantee. The objective5 and aims
of the charity are set out below. The Charity re6lStration number.. 1115452 and the Company registration number is
04791136.
11 is 8overned by a Board of TrusteelDirectors conslsling of repfesentalives of the Regiment, local buslness and the museum
community. The Board meets regularly Iquarterlyl to revlew strategy, review finances, museum a¢iivities, recelve the reports
ol the museum officers and manage malntenancelssues and HR issues that are raSsed by the management stèfl.
The museum artefacts are owned by a separate 'Collections Trust, and loaned to the museum for display. Under the terms of
the loan agreemeni the museum is responsible for for the conseNation of these artefacts with limited support from the
collection5 trust. The Chair of the Collections Trust is represented on the museum Board of Trustees. the Museum Chair sits
on the Collettion Trust 8oard.
The museums artivitles are for public beneflt as evldenced by the v15ion and mission statemenl and the objectiveslaims listed
below. The museum also works closely with Army Museum's 08llvy Trust IAMOTI, the National Army Museum INAMI and the
MOD throu8h the Army Herltage Branch. The Trustees have had re8ard to the Charity Commlssion's publlc beneflt guldance,
G•nernl Dats Prot•rtlon Re￿latI0Th IGDPRI
AII GDPR requlrements have been met.
The trustees. who are also the directors for the purpose of company law, and who served during the year and up to the date
of signature of the financial statements were..
Colonel IRetiredl Brian M Gor5ki MBE DL MSC
Colonel (Retired) James W Denny MBE
Ms Kiri A Gore
Lieutenant Colonel lain M Hollam
Mrs Karan P Lee
Mrs joanne A Marsh
Major Richard M Smith
Mr Peter Metcalfe FCA
Mr James E Bentley
Mrs Grace Mehts
Mr Abed Hussain
Mr Glyn R Potts
(Retired l Au8u5t 20241
(Resigned l December 2024
IAppolnted 5 June 20251
(Appointed 18 D￿ernber 2024}
IAppointed 17 January 20251
(Appointed 24 January 20251

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Recruitment ond Dppointment of trustees
Trustees are recruited by recommendation from exlstin8 trustees. Candidates with suitable skllls and qualiflcatlons would be
considered based on thelr ski115 Jnd qualifications and the requirements of the rnu5eum. The appointment of new trustees
would be rnade by the circulation of recommendations to the existing board of trustees for their approval.
None of the trustees has any beneficial •nlere5t in the company. All of the trustees are members of the company and
guarantee lo contribute £1 In the evenl of a windin8 11P.
The company's current policy concerning the payment of irade creditors is to follow Ihe C81's Prompl Payers Code Icopies are
available Irom the C81. Centre Point. 103 New Oxlord Street, London WCIA IDU).
The company's current pollcy concemlng the payment ol trade credltors Is to..
settle the terms of payment with suppllers when agreelng the terms of each transactlon:
ensure that supplier5 are made aware of the terms of payment by incluslon of the relevant terms in contracts. and
pay In accordance with the company'5 contractual and other le8al obligations.
Trade creditors of the company at the year end were equivalent to 29 day's purchase5. based on the average daily amount
Invoiced by Suppliers durln8 the year.
Stalement of trustees, responslbllltles
The irustees, who are also the direaors of The FusllSer Museum and Learnln8 Centre Llmlted for the purpose of company law,
are responslble lor preparlng the Trustees, Repori and the financial statements in accordance with appllcable law and Unlted
Klngdom Accounting Standards Iunlted Kingdom Generally kcepted Accountlng Practice).
Company Law requires the trustees to prepare flnanclal statements for each financlal year which 8lve a true and falr view of
the state of affairs of the charity and of the incoming resources and application of resources. including the Income and
expenditure. of the charitable company for that year.
In preparln8 these Ilnancial statemenls, Ihe trustees are required to..
select suitable accountln8 polScles and then apply them conslstenlly;
- observe the methods and prlnclples In the Charitles SORP,.
make judgements and estimates that are reasonable and prudent. and
prepare the financial statement5 on the going concern basis unless it is inappropriate to presume thai the charity will
conlinue in operation.
The trustees are responsible for keeping adequate accounting records that d15close with reasonable accurary al any tome the
flnanclol poslilon of the charlty and enable them io ensure that the flnanclal statements comply with the Companies Act 2(X)6.
They are also responsible for safe8uardln8 the assets of the charity and hence for taking reasonable steps for the preventlon
and detection of fraud and other irregularitie5.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Audltor
In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth (Audit) Llmited be reappointed
as auditor of the company will be put at a General Meeting.
e tru5tees' report was approved by the Board of Trustees.
Mr Peter Metcalle FCA
Trustee
2510612025

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
Oplnlon
We have audited the financial statements of The Fusilier Museum and Learning Centre Limited (the 'charity'l for the year
ended 30 September 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows
and notes to the financial statements, includin8 $18nificant accountin8 policies. The financial reportin8 framework that has
been applied In thelr preparatlon is applicable law and United Kingdom Accounting Standards. includin8 Financbal Reportin8
Standard 102 The Finonciol Reporting Slandord opplicoble in the UK ond Republlc OJ Irelond (United Kln8dom Generally
Accepied Accountln8 Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charltable company's aflalrs as at 30 September 2024 and of its Incomln8
resources and application of resources, for ihe year then ended..
have been properly prepared In accordance with Unlted Kin8dom Generally Accepted Accountlng Practlce,. and
have been prepared in accordance wlth Ihe requlrements of the Companles Act 2006.
Basls for opinion
We conducted our audil In accordance with International Standards on Auditlng IUKI IISAS IUKII and applScable law. Our
responsibilities undei those siandards are further described in the Audltor's responsibilities for the oudir 0] the flnonciol
5totementS section of our report. We are Independenl of the charity in accordance with the eihlcal requirements that are
relevant to Our audlt of the financSal statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other
ethical respon5ibilitles in accordance with these requirements. We belleve that the audit evldence we have obtalned Is
sufficient and appropriate to provide a basis for our oplnlon,
cO￿l￿S1on$ relatlng lo goln8 concem
In audlting the financlal stalements, we have concluded thai ihe trustees, use of ihe Éoing concern basls of accountSns In the
preparatlon ol the Ilnancial statements Is approprlate.
Based on the work we have performed. we have not Identified any material uncertainties relatlng to evenls or condltions thaL
Indlvldually or collectlvely, may cast si8niflcant doubt on the charity's ablllty to continue as a 8oln8 concern for a perlod of at
least twelve months from when the financial statements are authorlsed for Issue.
Our responsibililies and the responsibilities of ihe trustees with respect to 8oin8 Concern are described in the relevant
sections of this report.
Other Infomiatlon
The other Information comprlses the Information Included in the annual report other than the Ilnanclal statements and our
auditor's report thereon. The trustees are responslble for the other Information contalned wlthin the annual report. Our
opinion on the financial statements does not cover the other information and we do not expre55 any forrn of assurance
conclusion thereon. Our re5pon5ibility 15 to read the other information and, in doing so. consider whether the other
information is materially inconslstent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies Of apparent material misstatements,
we are required to determine whether this gives rise to a material misstalement in the financlal statements themselve5. If,
based on the work we have performed, we conclude that the￿ Is a material misstatement ol thSs other informatlon, we are
requlred to report that fact,
We have nothing to report In thls regard.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
Matters on whlch we are requlred to report by emceptlon
We have nothln8 to report in respect of the following matters in relation to which the Charitles (Accounts and Reports)
Regulations 2008 require us to report to you if. in our opinlon:
the information given in the financial statement5 is incon51Stent in any material respect with the tru5tees' report.. or
sufficient accountin8 records have not been kept.. or
the financial statemenis are not in agreement with the accountln8 records- or
we have not received all the Information and explanaiions we require for our audlt.
Responslbllltles of truste•s
As explained more fully In the statement of trustees, responsibililies. the trustees, who are also the directors of the charlty for
the purpose of company law, are re5pon5ible for ihe preparation of the financial statements and for bein8 satisfied that they
8ive a true and fair view, and for such internal control as the trustees delerminels necessary to enable the preparalion of
flnanclal statements that are Iree from material mbsstalemenl, whether due lo fraud or erior. In preparin8 the flnancial
statements, the Irustees are responslble for assessing the chaflty's ability to contlnue as a 80ing concem, disclosin8, as
appllcable, matiers relaied to Boln8 concern and usln8 the 8oln8 concern basls of accounting unless the trustees either intend
to liquidale ihe charitable company or to cease operations. or have no realistic alternative but to do so.
Audltor's responslbllltles for •udlt of the fln•ncl•l statements
We have been appointed as audStor under section 144 of the Charities Aci 2011 and report In accordance with the Art and
relevant regulalions made or havini effect thereunder.
Our objertives are to obtain ￿asonable assurance about whether the flnanclal statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance
Is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect
material misstarement when it exists. Misstatements can arise from fraud or error and are considered materi31 if. individually
or in the aggregate, rhey could reasonably be expected to influence the economic decisions of users iaken on the basis of
these financial statements.
Irre8ularlties, including fraud, are Instances of non-compliance with laws and re8ulations. We desl8n pmcedures In Ilne with
our responsibilities, outlined above, to detect material mi55tstement5 in respect of irregularities, includin8 fraud. The extent to
which our procedure5 are capable of detectin8 irre8ularities. includin8 fraud. is detailed below.
We Identlfy and assess the f lsks of material misstatement of the flnancial statements, whether due to fraud or effof. and ihen
desl8n and perform audit procedures responsSve to those rlsks. Includln8 obialnln8 audlt evidence that Ss sufflcient and
approprlate to provide è basis for our opinlon.
Identlfylnq and assessln8 potentlal rtsks related to Irre8ularltles
In identlfying and a5ses5in8 risks of material misstatement in respect of irre8ularities. includln8 fraud and non-compliance with
laws and regulations, we considered the following:
the nature of the industry and sector. control environment and business performance.
the company's own assessment of the risks that irre8ularities may occur either as a result of fraud or error-
Ihe results of our enquiries of management and members of the Board of Directors of their own Sdenlification and
assessmeni of the risks of irregulariiies;
any mètters we identifled havlng obtained and revlewed the company's documentation of thelr pollcies and
procedures relating to..
identifylng. evaluating and complwng with laws and regulations and whether they were avfire of any Instances of
non-compliance..
detetting and responding to the risks of fraud and whether they have knowledge of any actual. susperted or alleged
the internal controls established to miti8ate risks of fraud or non-compliance with laws and regulations. and
the matters discussed among the audit en8a8ement team re8ardin8 how and whefe fraud mi8hi occur In the
financial ststements and any potential indicators of fraud.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
As a result of these procedures. we consldered the opportunitles and Incentives that may exlst wwthln the company for fraud
and identified the greatest potential for fraud in the following area.. the tirning of the recognition of revenue.
In common with all audits under ISA5 IUKI. we are a150 required to perform specific procedures to respond to the risk of
mana8ement override.
We also obialned an understandlng of the legal and regulèiory Iramework thai the company operates In. focuslng on
provisions of ihose laws and re8ulatlons that hèd a direct effect on the determination of material amount5 and disclosures In
the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local
taxation le8islation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the finantial statements
but compliance with which may be fundamenlal to the company's ability to operate or to avoid a material penalty. These
included Data Proteclion Re8ulations.
As a result of performln8 the above. we Identified the timlng of the reco8nitlon of revenue as the key audlt matter related to
the potentlal rlsk ol fraud.
In addition to the above, our procedures to respond to risks identified included the following..
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with
relevani law5 and regulations described above as having a direct effeci on the financial sratemenis,.
enquiring of management and members of the Board of Directors concerning actual and potential Iltigation and
clalms,.
perlormin8 analytlcal procedure5 to Identify any unusual Of unempected relationships that may indicate r15ks of
material misslatement due to fraud..
reading minute5 of meetln8s of those charged wlth 8overn3nce and revlewin8 correspondence wSth ￿levant
uthorities where matters identified were slgnificant: and
in addressing the risk of fraud through mana8ement override of controls. testin8 the approprSateness of journal
entries and other adjustments- assessing whether the judgements made in making accounting estimate5 are
indicative of a potential blas,. and evaluating the business rationale of any significant transactions that are unusual or
outside the normal course of business.
We a150 communicated relevant identifSed laws and regulations and potential fraud risks to all engagement team members
and remalned alert to any indications of fraud or non-compliance with laws and re8ulations throughout the audit.
A further description of our Tesponsibilitie5 15 available on the Financial Reporting Council's website at: http5:11
www.frc.or8.uvauditorsre5ponsibilities. This description forms part of our auditor's report.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
Use of our report
This report is made 501ely to the charity's trustee5. as a body. in accordance with part 4 of the Charities (Account5 and Report51
Re8ulations 2008. Our audit work has been undertaken so that we might State to the charity's trustees those matters we are
required to State to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responslblllty to anyone other ihan the charity and the charity's trustees as a body. for our audit work, for
this report, or for the opinions we have formed.
Allson Buckley (Senlor Statutory Audltor)
for and on behalf of Mlt¢hell Charlesworth {Audltl Umlt¢d
2510612025
Accountants
Stalutory Audltor
3rd Floor
44 Peter Street
Manchester
M2 SGP
Mitchell Charlesworth IAuditl LimSted is eligible for appointment a5 auditor of the charity by virtue of 6t5 eligibility for
appolntmeni as auditor of a company under sectlon 1212 ofthe Companies Art 2LM)6.

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unreslrlcted
funds
2024
Restrlrted
funds
2024
Total
Unrestrlrted
funds
2023
Restrlct¢d
funds
2023
Total
2024
2023
P4ole5
Income ab￿ end¢wmients from:
Donations and legacies
Other Irading aclivities
Investments
Other income
186,175
98,79S
1,126
25.901
208.903
395.078
98,795
1,126
25,901
217.053
72,494
488
85.319
302.372
72,494
488
9,446
9,446
Total Income
311,997
208,903
520,900
299,481
85,319
384,800
Expendlture on:
Raising funds
Charltable activltles
7,294
112,164
7,294
358.869
18,859
203,861
18,859
248.323
246.705
44,462
Total expendlture
119,458
246,705
366,163
222,720
44,462
267,182
Met In¢omel{expendlture}
192,539
137,8021
154,737
76.761
40.857
117,618
Tran5fer5 between fund5
29,960
129.9601
Net movement In funds
io
192,539
137,8021
154,737
106,721
10,897
117,618
Reconclllatlon of lunds:
Fund balances at l October 2023
1,635,149
3.194,771
4.829,920
1.528,428
3.183,874
4.712,302
Fund balances at 30 Septembef
2024
1,827,688
3.156,969
4,984,657
1,635,149
3,194,771
4,829,920
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive
from continuing activities.
10-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT30 SEPTEMBER 2024
2024
2023
Notes
Flxed assets
Tanglble assets
14
4.660,299
4,491,528
Current assets
Stocks
Debtors
Cash at bank and in hand
16
17
2,783
44,980
339,961
2,947
16,186
378,711
387,724
163,3661
397.844
159,4521
Credltors: amount5 fallln8 due vlthln one year
Net current •sMts
324,358
338.392
Total assets less current Ilabllltl•s
4.984,657
4,829,920
The funds ol the charlty
Restricted Income funds
Uniestricted funds
20
22
3.156,969
1,827,688
3,194,771
1,635,149
4.984,657
4.829.920
The charlty Is entitled to the exempiion from the audil requiremeni conlained In section 477 of ihe Companies Act 2006, for
the year ended 30 September 2024, although an audit has been carried out under section 144 of the Chafitles Act 2011.
The directors acknowledge their re5pon5ibilitles for complying with the requlrements ol the Companies Act 2006 wlth respect
to accountln8 records and the preparatlon of flnancial statements.
The member5 have nol required the company to obtain an audit of ils financial statemenis under the requirements of the
Companies Act 2006, lor the year in question in accordance with section 476.
These flnancial statemenls have been prepared In accordance wlth the provlslons appllcable to companles subject to the small
companles regime.
2510612025
e flnancial statements were approved by the trustee5 On ........................
Mr Peter Metcalfe FCA
Trustee
Company registration number 04791136 (England and Wales)
11

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2024
2023
Notes
Cash Ilows from operatlng actlvltles
Cash genefated from operations
173,919
162,859
In¥ertln$ actl¥ltles
Purchase of tangible fixed assets
Investment income received
1213,7951
1,126
122,2471
488
Net cash used In Investln8 aCtl¥ltles
(212,6691
121,7591
Net c•sh used In Ilnanclni artlvltles
Net {decrease)/ln¢rease In ush and cash equlvalents
(38,7501
141,100
Cash and cash equlvalents ai beginnlng of year
378,711
237,611
C•sh and cash equlv•lents at end ol year
339,961
378.711
12-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accountln8 pollcles
Charlty InformatSon
The Fusilier Museum and Learning Centre Llmited Is a chaflty limlted by guarantee incorporaled in En8land and Wales.
Consequently, the charity does not have share cèpiial. Each of ihe trustees are liable to contribute èn omount not
exceeding £1 towards ihe a55et5 of the charity in the event of liquldèlion. The re81Stered office is Moss Street. Bury•
Lancashire, 8L9 ODF.
1.1 Accountln8 conventlon
The financial 5tatement5 have been prepared under the historical cost convention, in accordance with the Companies
Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.1 and the
Charlties SORP "Accountin8 and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities
preparing thelr account5 in accordance wilh the Flnancial Reporlin8 Standard applicable in the UK and Republlc of
Ireland IFRS 1021" leffeclive l January 20191. The charlty Is a Publlc Benefit Entlty as deflned by FRS 102,
The financial siatements are P￿pared In sterllng, whlch Is the functlonal currency ol the charity. Monetary amounts In
these financial statements are rounded io the nearest £.
The financial statements have been prepared under the historlcal cost conveniion, Imodifled to include the revaluatSon
ol freehold properties and to include investment propertles and certain flnancial instruments at falr valuel. The
principal accounting policies adopted afe set out below.
1.2 Golng foncern
At the time of approving the financial statements, the trustees have a reasonable empectation that the charlty has
adequate resources to continue in operational existence for the foreseeable future. Thu5 the trustee5 continue to adopt
the 80in8 concern basis of accountin8 in prepar in8 ihe financial slatements.
l.J Charltable funds
Unrestricted Income funds are general funds that are avallable for use at the dlscretlon ol the trustees in fvrtherance of
thelr chorltable oblectlves.
Restricted income funds are those donated for use in a particular area or for speciflc purposes. the use of which Is
restricted to that area or purpose.
1.4 Inwme
Income 15 reco8nised when the charlty 55 legally entitled to It after any performance conditlons have been met. the
amounts can be measured Teliably, and it15 probable that income wlll be received.
Donallons and legacles
Donations are recognlsed when the charity has been notlfled in wrlting of both the amount and settlement date. In the
event that a donalion is subject to conditlons that require a level of performance by the charity before the charlty Is
entitled to the funds, the income is deferred and not recognised until either those conditions are lully met, or the
fulfilment of those condition5 are wholly within the control of the charity and it is probable that these conditions will be
fulfilled in the reporting period.
Legacies gifts are recognised on a case by case basis following the grant of probate when the administratorlexecutor for
the estaie has communicated in writing both the amount and serrlement date. In the eveni ihat the gift is in the form
of an asset other ihan cash or a financial asset traded on a reco8nised stock exchange, recogniilon Is sublect io the
value of the glft being relSably measurable wlth a degree of reasonable accuracy and the title to the asset havlng been
transferred to the charily.
13-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Actountlng policies
Iconllnuedl
Grants recelvabl•
Grant5 are recognised when the charity has an entitlement to the funds and any conditions linked to the Brant5 have
been met. Where performance condition5 are attached to the 8rant and are yet to be met. the income is recognised as
a liability and included on the balance sheet as deferred income lo be released.
1.5 Expendlture
Expenditure is recognised once there is a legal or constructive obligatlon to transfer economic benefSt to a third party, it
is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be
measured reliablv.
Expenditure is classified by activity. The costs of each activity are made up ol the total of direct costs and shared costs.
includin8 SUPPOrt costs involved in undertakin8 each activity. Direct Costs attrlbutable to a sin8le activity are allocated
dlrectly lo that activity. Shared costs whlch conlflbule to more than one actlvity and support costs whlch are not
attributable to a sin8le acilvity are apporiloned between those actlvlties on a basls conslstent with the use of resources.
Central stoff costs are allocèted on the basls of tlme spent. and depreciatlon charges are allocated on the portion of the
asset's use.
R¥lsln8 funds
These are costs incurred in attractin8 voluntary Sncome. the mana8ement of investment5 and those incurred in tradin8
activilies thal raise funds.
Ch•rltsble artSvltles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its
beneficiaries. It includes both costs thai can be allocated directly ¢0 such activities and those cosis of an indirect nature
necessary to support ihem.
Support costs
Support cost5 include central function5 and have been allocaied to actlvity cost categories on a basi5 conslstent with the
Use of resource5, for example. allocatin8 property costs by floor areas, or per capita, staff cost5 by the time spent and
other costs by their usage.
Governance costs
These include the costs atiribuiable to the charlty's compllance wlth constitutSonal and statutory requSremenis,
Including audit, strategic management and truslees meetln85 and reimbursed expenses.
1.6 TaTh8ible fixed •55et5
Tangible fixed assets are initially measured at cost and subsequently measured at C05t or valuation. net of depreciation
and any impairment1055es.
Depreciation is reco8nised so a5 to write off the cost or valuation of assets less their residual values over their useful
lives on the followin8 bases..
Museum Development
Equlpment. Flxtures and FStiln8s
Written off over 125 years
IO% stralght line
The gain or loss arising on the disposal of an asset is determlned as the dlfference between the sale proceeds and the
tarrying value of the asset, and is retO8nised in the statement of financial activities.
14-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Actountlng policies
Iconllnuedl
1.7 Herftage assets
The museum has collections of heritage a55et5 which are held in sUPPOrt of the company's objectives. The directors do
not consider that reliable valuations can be obtained because of the nature of the assets held and the lack of
comparable markei values. The assets are owned by The Fusiliers Museum Trust Lancashire Iregistered charity
11245281 and are leni io the museum for a perlod of tweniy-five years from 25th Aprll 2Ci19 and thereafter unless and
untll the agreement is termlnated by elther party.
1.8 Impalrnient of flxed assets
At each reporting end date, the charrty revlews the carrylng amounts of Its tanglble assets to detemline whether there
is any indication that those assets have suffered an Impairrneni 1055. If any such Indication e¥ist5, the recoverable
amount of the asset 15 e5tifflated in order to determine the extent of the impairment10s5 lif any).
1.9 Stocks
Stock is valued at the lower of cost and e511mated selllng price le55 Costs to complete and sell, after due re8ard for
obsoleie and slow moving Stocks. Cost Is determined uslng the flrst-in, first-out IFIFOI.
Net realisable value Is the estimared selllng prlce less all estlmated costs of completSon and costs to be Incurred In
marketSn8, selling and distrlbutlon.
1.10 Cash and cash equlvalents
Cash and cash equivalents Include cash In hand and call deposlts, and other short-term highly Ilquld Investmenls that
are readily convertible to a known amount of cash and are subject to an insl8nlficant risk of change in value.
1.11 Fin•n¢ial inslruments
The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments. and Sertion 12 '0ther
Financial In5trument5155ues' of FRS 102 to all of its financial instruments.
Financial instruments are reco8nlsed in lhe charity's balance shee¢ when the charitv become5 party to the contractual
provisions of the insirumenl.
Flnanclal assets ènd liabilitles are offset. wlth the net amounts presented In the financlal statements, when ihere is a
legally enforceable right to set off the recogn15ed amounts and therels an Intentlon to settle on a net bas15 oi to realise
the asset and settle the liability simultaneouslv.
Boslcflnonclal ossets
Basic financlal assets. whlch Snclude debtors and cash and bank balances, are Initlally measured at transaction prlte
Including transaciion costs and are subsequently carried at amortlsed cost usbng the effective interest method unless
the arrangement constitutes a financlng transartion. where the transaction 15 measured at the present value of the
future receipts d15counted at a market rate of interest. Financial a$5et5 cla55ified a5 receivable within one year ore not
amorti5ed.
15-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Actountlng policies
Iconllnuedl
Boslcflnonclol Ilabllltles
8asic flnancial Ilablliiies. includlng crediiors and bank loans are initlally recognised at transaciion price unless the
arrangement constitutes a financlng transaction. where the debt instrument is measured at the present value of the
future payments dlscounled at a market rate of interest. Flnancial liabilitles classifled as payable within one year are not
amortlsed.
Debt Instrument5 are subsequently carried at amortlsed c05t. Using the effertive Interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations
from suppliers. Amounts payable are classified a5 current liabilities if payment is due within one year or less. If not, they
are presented as non-current liabilities. Trade creditors are reco8nlsed Inltially al transactSon price and subsequently
measured ai amortlsed cosi usin8 the effectSve interesi method.
Dereeoonltlon olJlnan¢lal Ilobllltles
Financial liabilities are derecognised when the charity's conlractual obligations expire or are discharged or cancelled,
1.12 Tamatlon
The charity Is considered to pass the tests set out In Paragraph I Schedule 6 of the Finance Act 2010 and therefore it
meets the defSnSiion of a charilable company for UK corporatlon lax purposes. Accordln8ly, the charity is potentially
exempt from taxation Sn respect of income or capltal galns recelved withln categorles covered by Chapter 3 Part I l of
the Corporatlon Tax Act 2010 or Sectlon 256 of the Taxatlon of Char8eable Galns Act 1992, to the extent that such
Income or 8oln5 are applled excluslvely to charltable purposes.
1.13 Retlrement beneflts
The charity operates a defined contrlbution penslon scheme which15 a pen51on plan under which flxed contributions are
paid into a pension fund and the charwty has no legal or constructive obligation to pay further contributions even if the
fund does not hold sufficient assets to pay all employees the benefits relaiing to efflployee service in the current and
prior perlods.
Contributlons to defined contributlon plan5 are reco8nised In the Statement of Financial Aclivitles when they are due. If
conlribulion payments exceed the contributlon due for 5ervlce, the excess is recognised as a prepayment.
1.14 Forel8n exchan8•
Transactions in currencles other than pounds sterlin8 are recorded at the rates of exchange prevailin8 at the dates of the
transactions. At each reporting end date. monetary assets and liabilities that a￿ denominated in forei8n currencie5 are
retranslated at the rates prevailing on the reportin8 end date. Gains and losses arising on translation in the period are
included in profit or10s5.
1.15 Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordlnary course of
buslness.
Trade debtOfS are recognised initlally at the transactlon prlce. They are subsequently measured al amortised cost uslng
the effective interest method, less provlslon for Impalrment. A provlslon for the Impairment of trade debtors Is
established when there is objertive evidence that the charity will not be able to collect all amounts due accordin8 to the
original terms of the receivables.
16-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Actountlng policies
Iconllnuedl
1.16 Trade credltors
Trade credltors are obligations to pay for 8oods Of services that have been acqulred in the ordinary course of buslness
from 5upplier5. Accounts payable are classified a5 current liabilitie5 If the charity does not have an unconditional right,
at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reportin8
date, they are presented as non.current liabilities.
Trade creditors are reco8nised InStially at the transaction price and subsequently measured at amortised cost using the
effeciive Interest rate meihod.
Crltlcal atcoufttlni estSmates Ind Jud8emenis
In the appllcation of the charity'5 accounting policies. the trustees are required to make judgement5, estimates and
assumptions about the carrying amount of 355et5 and liabilities that are not readily apparent from other 50urce5. The
estimates and a550ciated a55umption5 are based on historical experience and other factors that are considered to be
relevant. Actual results may difler from these estimales.
The estimates and underlySn8 assumptions are revlewed on an on8olng basis. Revisions to accountlng estlmates are
reco8nised in the period in which the estimète is revSsed where ihe revision affect5 only ihat period. or In ihe period of
the revision and future periods where the revision affecis both current and future periods.
Income from don•tlons and legacles
Unreslrlrted
funds
2024
Reslrlrted
fynds
2024
Total
Unrestrlrted
funds
2023
RestrSrted
tunds
2023
Total
2024
2023
Sponsorship
Legacies
Granls receivable
Regular 8ivln8 and capltal
donations
Gift aid reclaimed
700
700
700
700
86,518
118.962
86,518
204.281
174,318
208,903
383,221
85.319
11,157
11,157
6,620
4,253
6,620
4,253
186,175
208,903
395,078
217.053
85.319
302.372
Grants
Bury MBC
MOD
66.804
36,908
16,005
29.167
14,434
ii,ooo
66,804
36,908
16,005
29,167
14,434
219.903
66,804
36,908
250
15,0
66.804
36,908
250
15.000
AMOT
RRF ITower of London)
Fusilier Aid 5ocletv
Other
208,903
85.319
85.319
174,318
208,903
383,221
118.962
85,319
204,281
17-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Income from other tradln8 aCtI￿tIeS
Unrestrlcted
funds
2024
UnrestrSrted
funds
2023
Admisslon Income
Cafe income
Shop income
Room and event hire
8,754
11,709
7.531
13.225
40,029
14.299
75,742
Olher tradin8 activStie5
98.795
72,494
Income from Investments
Unr•strlct
fuDds
2024
Unr•strlct•d
funds
2023
Interest receivable
1,126
488
Other Income
Unrestrlcted
funds
2024
Unrostrlrted
funds
2023
Rental income
19,591
6,310
7,910
1.536
Oiher income
25,901
9,446
18-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Expendlture on ralsln8 funds
Unrestrlcted
funds
2024
UnrestrSrted
funds
2023
Tradlni costs
Shop costs
Cafe costs
Event costs
3,882
4,928
9,574
4,357
3,412
7.294
18.859
ExpendStur• on tharltable artlvltles
Fu￿ller
Museum
2024
Fu￿ller
Museum
2023
Dlrect costs
Staff costs
115.689
96,486
Share of support and govemance costs {see note 9)
Support
Governance
234,410
8,770
144,528
7,309
358.869
248.323
Analysls by lund
Unrestrlcted lunds
Restricted funds
112,164
246,705
203,861
44,462
358.869
248.323
19-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Support costs allocated to artlvltles
2024
2023
Depreciation
Insurance
Water rates
Repairs and maintenance
Telephone
Educational
Computer, prlntSn8 and stationery
Advertising and events
Travel and exhlbltion5
Professional fees and char8es
Governance costs
45,024
18,455
8,735
47,358
3,277
5.4S5
9,20S
53,390
41,343
2,168
8,770
45,196
13,563
1,656
35,552
2.637
2.268
13,921
24,474
6,187
19261
7.309
243,180
151,837
Analy5ed between:
Fusilier Museum
243,180
151,837
2024
2023
Governance costs comprlse:
Audit fees
5,395
3,375
3,675
3.634
Accountancy
,770
7,309
io
Net movement In lunds
2024
2023
The net movement In funds15 Stated after char8in811creditln81-
Fees payable to the charity'5 audltor:
- for the audit of the charity's financial statements
for Other financial services
Depreciation of owned tan8lble fixed assets
5,395
1,000
45,024
3,675
3.634
45.196
11 Tru5tee5
Durin8 the year the charity made the following transactions Wlth trustees..
£1,82112023'. £nlll of expenses were reimbursed to trustees durlng the year.
One trustee was reimbursed expenses for various payments relatlng to the upkeep of the museum and It's exhlbltlons.
None of the trustees {or any persons connected wlth them) recelved any remuneratlon or benefrts durin8 the year.
-20-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12
Employees
The monthly average number ol employee5 lincluding senior managementlleadership team) during the year expressed
as full time equivalents was as follows:
2024
Number
2023
Number
Administratlon staff
Employment costs
2024
2023
Wages and Salaries
Social security costs
Other pension costs
109.658
4,197
1.833
93,790
1,122
1.574
115,688
96,486
There were no ernployee5 whose annual remuneration was more than £60.OtK).
13
Tamatlon
The chariiv Is exempt from taxailon on its activltles because all Its income Is applSed for charitable purposes.
14 TaTr8lble flxed assets
Mumwn
D•¥•lopm•rt
EqulpffwThL
FI￿￿r•S •nd
Flttln
Tot•1
Ai l October 2023
Additlons
5.196,654
205,609
174.235
8,186
5.370.889
213,795
AI 30 September 2024
5.402,263
182.421
5,584,684
Depreclatlon and lrnylrment
At l October 2023
Depreciation charged in the year
707,930
41,4LK)
171,431
3.624
879,361
45.024
At 30 September 2024
749,330
175,055
924,385
Carrylng amount
At 30 September 2024
4.652.933
7.366
4,660.299
At 30 September 2023
4.488,724
2,804
4,491,528
21

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
15
Herlta8e assets
Heritage asset5 not re¢ognlsed In the bJlano Sheet
The charity holds heritage assets consists of guns. books, silver medals, uniforms and other artefacts Ithe collectionsl.
The heritage assets have a nil cost. The collections belon8 to The Fusiliers Museum Trust Lanc35hire and are loaned to
the museum at no cost. A5 a result. no value 55 reported for these assets in the balance sheet.
16 St¢xks
2024
2023
Shop stock
Bar siock
1,989
794
1,625
1,322
2,783
2,947
17 Debtors
2024
2023
Amounts falllni due wfthln one year:
Trade debtors
Other debtors
Prepayments and accrued Income
43,444
11,038
99
5,049
1,536
44,980
16.186
18 Credltors: amounts fallln8 due wlthln one year
2024
2023
Othef taxatlon and social security
Trade credilors
Other creditor5
Accruals and deferred income
1,882
28,850
10,184
22,450
15,1891
33,806
16.248
14,587
63,366
59,452
19 Retirement benefit sthernes
Z024
2023
Deflned wrfrlbuilon s¢hem
Charge to proflt or loss In respect of deflned contrlbutlon schemes
1,833
1,574
The charity operates a defined contribution pension scheme for all qualifyin8 employees. The a55et5 of the scheme are
held separately from those of the charlty in an independently administered fund.
-22-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
20
Rertrlrted lunds
The re5trirted fund5 of the charity comprise the unexpended balance5 of donations and grants held on trust subject to
specific condition5 by donor5 as to how they may be used.
At i Ortober
2023
Incornlng
resourc
Resources
expended
Translers
At30
5¢plember 2024
Development fund
Collectlons trust
Fusiliers Aid Society
HLF Collecling Cultures
E Gartside Memorial Paintin8
Arts Councll En8land
Univetslty ol Manchestei
Fusiliers Collection
Booth Charities
Trustwave RRF Gallery
Sarah's Sunflower Fund
Valencia Commtsnlty Fund-
Basement Project
National Heritage . K050vo Project
WO Street Zedra Trust
Bernard Sunley Fund
3.131,713
2,500
5,980
1.549
150
49,674
20S
3,000
129,0041
12,5001
15,9801
11.5491
3.102,709
150
98,341
{148,0151
12051
18,8WI
(iO,O¢))I
8,800
10,000
12,OCK)I
42,500
32,262
119,1521
110,5WI
15.OCKIl
14,OCQI
23.348
21,762
3.194,771
208,903
{246,7051
3,156,969
Pre¥lous ye•r:
At l Ortober
2022
IbKomlni
resources
ResOU￿e$
expended
Transfers
At30
5eplember 2023
Development fund
Collection5 trust
Fusiliers Aid Society
HLF Collecting Cultu￿5
E Gartside Memorial Paintin8
Arts Council England
University of Manchester
Fusiliers Collection
Bury Art Gallery & Museum
3.160.717
3.500
5,980
1,549
150
7,713
489
3,000
776
129,0041
112.2(X)I
3,131.713
2.500
5,980
1,549
150
49,674
205
11,200
71,921
129,9601
12841
12.1981
17761
2,198
3.183.874
85,319
44,462
129.9601
3,194,771
-23-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
21
Fund Descrlptlons
The Specific purp05e5 for which the funds are to be applied are as follows:
The Development Fund represents varlou5 restricted 8rants for Wofk restorin8 the buildin8 and fittin8 Out the new
museum,
Booth Charitles grant Is for Sèlford educatSonal vlslts,
The Collectlons Trust grant was lor purchasln8 archlve boxes. The £11,200 recelved in the cuirent year was towards
salaries.
The Fu5111ers Ald Society grant wa5 towards the Llving Hi￿Ory Costs.
HLF Collectin8 Cultures 8rant provided fundln8 to purchase Items for the collectlon and an activlty plan based around
the Items acquSred.
The E Gartslde Memorlal Palntln8 fund Is to commSsslon a palntlng In E Gartside's memory.
Arts Council England provided a grant for Cultural Recovery following the pandemlc. The £71.921 received in the year is
the first part of the MEND project grant for 'Protectin8 a much loved town treasure,.
University of Manchester provided a Brant towards repairing the hand dryers.
Fusiliers Collectlon provlded a 8rani foi the malntenance of the collectlon, and payment towards insurance premlums.
RRF Gallery - Thls Income Is monles recelved from the reglment (The Royal Reglment of Fuslllers at the Tower of
London) restricted for the development of the RRF 8allery in the museum,
Sarah's Sunflower Fund - This income was following fundraising undertaken by Sarah's Sunflower Fund la charlty set up
by the mother of a lady who tragically died of cancer in 20161. This particular fundraising effort raised monies which was
restrlcted for the development of the Basement In the museum (The basement project- see below)
Basement project The basement ol the museum bulldlng was lying derellct untll the back end of 2024. Monies were
raised Irom varlous sourceslsee above and below) but in the main Irom Viridor Waste Management trading as Valencia.
These monbes are restrlcied for the development of the basement Into a community space whlch can be rented by Itxal
'nol-for-proflt' organlsatlons.
Kosovo project - Th1515 a temporary exhibition to commemorate 25 year5 since the regiment Saw action as part of the
UN peace keeping force IKFORI in Kosovo. This was primarily funded by the Heritage Lottery Fund with monies which
are restrirted for this particular exhibition.
W O Street Trust and Bernard Sunley Fund - See Sarah's Sunflower Fund above. These were two more lunders for the
basement project.
-24-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
22
Unrestrlcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject
to specific conditions by donors and grantors as to how they may be used. These include de5i8nated funds which have
been set aside out of unrestricted funds by the trustees for specific purposes.
At l Ortober
2023
Incomlng
resources
Resources
expended
Transfers
At30
5eplember 2024
General funds
1,635,149
311,997
{119,4581
1,827,688
Prevlous year:
At l Ortober
2022
Incomlni
rexwr¢¢s
Resources
expended
Transfers
At30
september 2023
General funds
I,S28,428
299,481
(222,7201
29,960
1,635,149
23 Analysls of net a55ets between funds
Unrestrlrted
funds
Restrlcted
funds
Total
2024
2024
2024
At 30 September 2024:
Tangible 355et5
Current assetsllllabilitles}
1.542,067
56,920
3.118,232
267,438
4,6fJO,299
324,358
1,598,987
3.385,670
4,984,657
Per bolonce sheet
8alance to ollocate
1.827,688
228,701
3.156,969
1228,7011
4,984,657
Unrestrlrted
funds
2023
Reslrlded
funds
2023
Total
2023
At JO September 2023:
Tangible assets
Current assetsllllabllitlesl
1.344,292
290,857
3.147,236
47.535
4,491.528
338.392
1.635,149
3,194,771
4,829,920
24 Related party transactions
There were no disc105able related party transactions during the year12023 - none).
-25-

THE FUSILIER MUSEUM AND LEARNING CENTRE LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
25
Cash generated from operatlons
2024
2023
Surplus for the year
154,737
117,618
Adjustments for:
Investment income recognised in statement of financial activities
Deprecialion and impairmeni of tangible fixed assets
11,1261
45.024
14881
45.196
Movements In workln8 capltal-.
Decrease in Stocks
Ilncreasel in debtors
Increase in crediiors
164
128,7941
3,914
394
111,9201
12,059
Cash ynerated from operatlons
173,919
162,8S9
26
Analysls of chang￿ In nel fund5
The charity had no materlal debt during the year.
-26-