Company number.. 6430304 Registered Charity.. 1122396 DR JOHNSON'S HOUSE TRUST LIMITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026
DR JOHNSON'S HOUSE TRUST LIMITED CONTENTS Page Reference and administrative infomiation Report of the trustees 2-13 Independent examinerfs reFK)rt 14 Statement of finanual activities linduding income and expenditure ac¢ountl 15 Balan sheet 16 Notes to the awounts 17-25
DR JOHNSON'S HOUSE TRUST LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION Charity name Dr Johnson's House Trust Limited Registered charity number 1122396 Company number 6430304 Registered office 17 Gough Square London EC4A 3DE President Lord Harmsworth Trusteesldirertors Mr M G Bundock Mrj E Church Mr S P Clarke (Chairman) Mr A Gibbins Lord Harmsworth Dr J C Harmsworth King Ms N McEnro Mr T B E P Montagu Mr R Thorpe Independent examiner Stephen B McAlpine SBM A550ciate5 Limited Freedman House Christopher Wren Yard 117 High Street Croydon CRO I QG Investment managers C.C.LA. 85 Queen Victoria Street London EC4V 4ET Bankers Coutts & Co 440 Strand London WC2R OQS Solicitors Bircham Dyson Bell & Co So Broadway London SWI H OBL
DR JOHNSON'S HOUSE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2026 The trustees present their reporc and financial statements for the year to 31 March 2026 which are also prepared to meet the requirements for a directors, report and 2ccounts for Companies Act purposes. The financial statements comply with the Charities Act 201 I, the Companies Act 2006, the charitable company's memorindum and article5 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2019. Objectives and governance The objects of the Trust as stated in the memorandum of association are: to preserve for the use and benefit ofthe public Drjohnson's House at 17 Gough Square, London, and to advance and encourage learning and scholarship. Dr Johnson's House is a Grade I listed small historic town house in the City of London and an independent, fully accredited museum. Samuel Johnson. the writer and wit, lived and worked here in the middle of the eighteenth century, compiling his great Dicuonory of the English Languoge in the Garret. In 191 I, Dr Johnson'5 House, derelict and empty, was bought by philanthropist Cecil Harmsworth, a Liberal MP. He restored it and opened it to the public, building a cottage next door for the resident Curator. In 1929, 2 Trust was formed to run the House. This was registered with the Charity Commission in 1962. and in 2007 the charity was incorporated with the company being registered with the Charity Commission in 2008. On l April 2009 the attivitie5 of the original unincorporated charity and its net asset5 were transferred to the charitable company under a Scheme approved by the Chariry Commission on 30 October 2008. with a permanent endowment holding the House, some chattels and some investments. The endowment is registered as a linked charity of the charitable company under the name Dr Johnson's House Trus( charity number 122396-1. and 211 transactions 2nd balances are separately disc105ed under endowment fund5 in the account5. The company is constituted under a memorandum of association which establishes the objects and powers of the charitable company, and is governed under its articles of association. The articles provide that the business ofthe company is managed by not less than five nor more than 15 trustres. The trustees may at any time appoint any individual as 2 trustee. provided that the prescribed maximum is not exceeded. The trustees may also appoint persons with suitable knowledge and experience (known as governors) to advise the trustees. Governors are members of the company and attend trustees. meetings but have no voting rights. The trustees seek to identify skills shortages among the trustees and governors and endeavour to recruit new trustees or governors to fill the gaps. or to replace
outgoing trustees and governors. Newly-appointed trustees and governors visit the House and are briefed by the Chairman. Stephen Clarke, 2nd Directorl Cur2tor, Celine Luppo McDaid. Trustees during the year are listed in the Reference and Administrative information section of this report. Public benefit The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust'5 aims and objectives and in planning future activities. Cecil Harmsworth was adamant that Dr Johnson's House should always feel like 2 home and not a 'stuffy museum, full of period furniture with no relation to Johnson and his circle. He also insisted that tea parties and dinner partie5 should always be welcome. Dr Johnson's House continues to adhere to Harmsworth's wishes today by hosting many events, and by presenting the house as a 'Johnson house, not simply a 'Georgian house,. Dr Johnson's House is open to the public with a collection relating to Johnson. a research library, restored interiors and a wealth of origin31 features. The popular Curator-led tours of the House ire given to a wide ringe of groups, including U3As, history sotieties, social clubs, work colleagues and student groups. The House runs a broad and popular education programme that includes a range of free or low-cost workshops for schools, colleges and universities, and themed-tours and lectures on a wide variery of subjects, using our collections as the springboard to the lessons and activities. There is throughout the year a varied programme of events 2nd exhibitions exploring various elements of Dr Johnson's life and work 2nd the 18 century more br02dly, ranging from staged performances to guest lecturers, in addition to our regularly sold-out monthly lunchtime lecture series. There are special late night openings and open days, as well as concerc5, lectures and some more quirky events. Dr Johnson's House is a unique venue in the hearc of the historic City of London with 2 long history of entertaining, providing a charming and atmospheric setting for hosting a variety of different corporate and private events. The Covid-19 pandemic impacted the scale and frequen¢ies of these programme5 and activities heavilyi but our recovery plan5 were implemented to support their return and are meeting with success. Comprehensive and major strategic development plans have been devised to ensure the long-term financial sustainability of the organization through increased interest and activities and support under the concept of The House of Words project. Under the concept of 'The House of Words,, we envisage presenting 17 Gough Square as 2 place where we will celebrate Samuel Johnson'5 life and work and the power ofword5 to let us share our stories, understand our world, articulate our dreams, and debate our ideas. Johnson and his circle of friends offer myriad stories with strong resonance for social issues in 21 st-century life, including.. friendship and grief. power and s12very (2nd Johnson's st21wart opposition to all forms of oppression). gender and identity. not least in relation to Johnson's early championing of female authorship; disability, mental and physical health,. and Black British history. We will ensure that diverse voices are consulted 2nd reflected in our programming, which will exhibit and celebrate both historic and contemporary writers and arti5t5. We are in the process of developing ambitious plans that will help us achieve our strategic aspirations to ensure Dr Johnson's House lives up to its potential to enhance the lives of visitors, serves its community and shares Dr Johnson's brilliance with new generations around the world. Much of the work undertaken this year has involved projects and fundr2ising to further the development and delivery of 'The House of Words, programme.
The activities during the12St year are summarised in this report. Activities in 2025-26 Executive summary: The House wa5 open to the public 5 days a week for nine months of this period, and for Six days during the last quarter.. for the first time in the organisation's history, thanks to a grint from the City of London 'Destination City, fund, we opened the House on Sundays. This has been a successful endeavour, with figures growing as awareness of this extended offering increases. The House was closed for six weeks from April to mid-may 2025 in order to conduct essential maintenance work This impacted visitor figures and related income. Revenue generated through all income streams led to an overall income of £257,381, including investment income but before gains and losses on disposal and revaluation of investments. This is a modest increase on last year of £3,780 (or 1.5Y.) and £5,249 (or 2%) on the year before thaL However. monies raised through house activities increased significantly this year, by £14,922 or 15%. Of the overall income for this financial year, £67,617 was riised through fundraising, compared to £82,288 last year. This reflects continued strong fundraising despite the end of the National Lottery Heritage Fund grant early in the financial year (supporting two staff roles, now ceased). Correspondingly, expenditure increased this year as we appointed a House Manager following the dep2rture of the NLHF-funded role of Operations and Collections Manager. We also undertook extensive but essential m2intsnance on our electrics system, 2mounting to £25,0. This led to an overall expenditure of the year of £321,732, compared to £269,869 the previou5 year (an increase of £51,863 or 19%). Thi5 led to a total deficit for the year of £64,351. However, income generation increased robustly this year. Following the deduction of the grants above {and the bank interest and investment income at £46,863), the monies generated exclusively through House ictivities, and our supporters, progrxmmes and donations, in this period imount to £144,901. This compares to £125,403 last year and £93,985 the year before.. an increase of 16% and 54% respectively. The investments recorded an unrealised loss of £122,246 at 31 March 2026 (compared to a loss of £67,031 last ye2r), leaving their value at just under £1.41 m in these accounts. This compares to just under £1.57m in these accounts at close of year-end in 2025, and £1.65m in 2024. In financial terms the following points should be noted in summary.. Income summary: Overall income for the year was £257.381. including investment income but before gains 2nd losses on disposal and revaluation of investment. A total of 11,968 visitors attended the House in person, down 4% on the previous year (12,521). A larger reduction in foorfall had been expected, considering the House was Closed for maintenance for six week5 (12% of the year). De5Pite the small decrease, admission5 generated £49,419. This is 6% more than last year (£46,778).
Shop sales also grew, amounting to £21,014. The income from this stream exceeded our t2rget for the year 2nd reflects an increase of12Yo on last year (£18,789). The appetite for private venue hire events remained comparable to last year. generating £16,868 (£16,968 in 2024-25). The House Events programming increased greatly over the course of the year, and brought in £11,973. Thi5 exceeded the budget by 20% and reflects an increase of 69% on last yeir (£7,078) and is four times the income in 2023-24 (£2,934). Grants were received to support the House's various activities, amounting to £67,617 (£82,288 in 2024-25), reflecting the end of the NLHF gr2nt early in 2025-26). We are grateful co all who have supported the House in thi5 way. Funders include the National Lottery Heritage Fund, the Ardeola Trust, the Ciry of London, the Fleet Street Quarter BID, the Leche Trust, in addition to donations from the members of our patrons, group, the Gough Square Club, the Worshipful Company of Solicitors and individual donors. Monies from our support programme and donations amounted to £27,052, compared to £24,475 last ye2r (an uptick of I l %)- The income from our investments, being the dividends on the House's investment portfolio, plus the accrued bank interest remained comparable to last year at £46,863 (in 2024-25: £45,911). Expenditure summary: Total expenditure for the year 2025-26 amounted to £321,732, compared to £269,869 the previous year (an increase of £51,863 or 19%). This led to a total deficit for the year of £64,351. Extraordinary maintenance work was required on our electrics system, amounting to £25,000. Development costs came in at 50% of the budget as we consciously reduced expenditure where possible, and sourced additional funding for the completion of various projects. Staff costs increased this year owing to our investment in the new post of House Manager, following the end of the NLHF-funded role of Operations and Collections Man2ger. However, we still came in on budget on this stream of expenditure over the course of the year. Collections: acquisitions and conservation Acquisitions: We acquired items thanks to the sUPPOrt of the Gough Square Club members: Giuseppe Baretti, Easy Phroseology, for the use of young ladies who intend to learn the Italian longuoge (London. 1775), 2nd a manuscript in the hand of James Boswell Jr. which offers insights into the provenance of the porcrait of Anna Williams (by Frances Reynolds) in the House's collection. Both piece5 were presented to our patrons at our annual supper in November. Conservation: Our book conservation programme received £2,500 in funding with which we were able to conserve a first edition of Johnson's A Dictionary of the English Languoge (1755), his ex libris copy of the Select Works of Abraham Cowley (1772), and an ex libris Elizabeth Carter first edition of the Works of Epictetus (1758).
Building Maintenance: An electric condition survey was undertaken as part of our compliance management schedule which identified that essential upgrades to electric equipment and wiring were due. Remedial work amounted to c. £25,000, and the House closed to complete the job in a safe and swift manner. This took 6 weeks, and started in April 2025. Funding was secured to cover the expense. Exhibitions: Desks. Drudgery ttnd the Dictffonory This exhibition remained open throughout 2025-26, presenting the research of Prof. Lynda Mugglestone, Professor of the History of English, Pembroke College, Oxford University. This research presents insights into the compilation of Johnson's Dictionary, the role of his amanuenses and showcasing the desk on which it is thought he wrote the seminal work This 'dictionary desk, is on loan from Pembroke College and we thank them for their generosity. This projecL 'Rethinking Johnson's House of Words.. was funded by TORCH at Oxford University and is a close collaboration beeen Celine Luppo McDaid, the Hyde Director of Dr Johnson'5 House, and Prof. Lynda Mugglestone resulting in this exhibition, the exhibition catalogue and a programme of related events and educational workshops. The press and public have responded well, with most interest being in the back-story of the 'dictionary desk,. Linguists have been particularly interested in the 'm2ny hands make light{er) work, research presented here. which delves into the lives and roles of the amanuenses employed by Johnson to a$51St him. The activities (word games and quill writing) have proved very popular also. The exhibition has been very well-received during guided tours and several private viewings of the House over the year. Extensive audience surveys reflect the populariry of the exhibition and the house more broadly. 'Gr<rtificotions of the Polote.: Culsine In the Age of Somuel Johnson. Opened in July 2023, this exhibit remained installed until Autumn 2025. Inspired by Johnson's conviviality and attitude to the value of sharing food and drink with friend5, It explores some of the prominent food and beverage cultures of the 18th century, with a particular emphasis on the experiences of Samuel Johnson, James Boswell, and their contacts and associates in England and Scot12nd. This exhibition is co-curated by Professor Sheila T. Cavan2gh of Emory University 2nd Celine Luppo McDaid, the Hyde Director, and is funded by the Emory Fund for Public Scholarship. Loan item5 ¢0me from collections of the Guildhall Library in the City of London and the London Metropolitan Archives. Education. engagement and outreach: Our education and outreach programmes continue to be offered in-house and online. Twenty-two general tourgroups were offered during this period. often for historical and l or literary societies, U3A groups and City Lit attendee5. Eighty-one workshops were offered throughout 2025-26. reaching 2,312 Students. This is an increase of 33Yo on last year. The 'House and Home. workshops remained the most popular with Key Stages l and 2, with the 'languige 2nd literature workshops. being the most in demand, for KS 3-5, and under- 2nd post- graduate linguistic students. Workshop5 about Black British history and the history of female authorship in print also remained popular. The workshops were predominantly language and literature workshops and were given to school groups of various ages, many from London and surrounding counties, but for students of English as 2 second language and several American summer schools. House 2nd Home workshops were 21so given to three primary school& 2nd 2 number of
Black British workshops were given. including 2 seminar for students from Maryland University. A short seminar on the Bluestockings using our collections was delivered to graduates of UCL London. We secured funding from the City's Creative Cultural Learning programme to form a partnership in co112boration with other cultur21 sites {including Keats House, Ch2rterhouse, and the Museum of the Order of St John) with the Speakers Trust, to deliver a series of bespoke workshops focusing on the development of oracy skills, called 'Culturally Speaking,, to be delivered during the Spring and Summer terms. Highlights of our education programme this year feature our collaborations with partners, including University College London, the Oxford English Dictionary, Shoe Lane Library and Landsec, a property developer. In November 2025 we parcicipated in the'Being Human Festival, with UCL and the OED. The festival explored and celebrated all elements of the human condition, with our partnership focussing on speech. and the evolution of the English language. We staged at Dr Johnson's House a carousel of activities exploring the evolution of the English Language, from Old English to Modern World Englishes in the digital era. The parcicipants came from several boroughs around London and were diverse in ethnicity, with many speaking English a5 a second language. 202 students (aged 8-18) tsking part (with no charge). This was funded and delivered in collaboration with the English deparcment of UCL. The feedback was excellen( and the project expanded to include delivery of the workshops at the Lewis Carroll Library in Islingcon and the Brixton Library in Lambeth. Funding has been secured to furcher develop this partnership for 2026-27. We continued as an official partner in the City of London Culture and Creative Learning forum, which enables us to access funding to support 5choo15 Vlslting the House, in addition to collaborating with schools and other cultural organisations within London to deliver cohesive and dedicated learning programmes to students in person and online. In September 2025 we concluded a 9 months situational analysis and strategic plan of our entire education programme, working with a lelding Education Consultsnt, Alice Kirk. Thi5 report and strategic plan were essential in securing funding for a parc-time Learning & Outreach Officer as a priority. We have also developed - and been funded - for a project that grew out of thi5 Situational analysis Dr Johnson's Alphabe( which will address and support the acquisition of language in Early Years (ages 0-5). These grants were awarded by the City of London Culture and Creative Learning Fund, whom we thank sincerely. Accessibility We have focused on plans to make the House. its collections and our interpretation more accessible, both in person and digitally. We provide hybrid access to meetings and record lectures to share online via our YouTube channel, which continues to grow in popu12rity. We have produced the room guides in 12rge print and updated our foreign languages guides, offered in l O languages. We worked closely with the American Friends of Drjohnson's House to raise iw2reness of and funding for our desire to acquire an adjoining property to create an education and visltor centre, and to join these building5 to capitalise on the internal lift, thu5 providing step-free access throughout Dr Johnson's House. We worked closely with planning and heritage officers throughout the year to progress architectural plans to secure planning permission. This project is now in abeyance but the work surrounding it has been a useful learning experience as we consider other possibilities. Several online lectures were delivered, including to students of Boston University, USA, with onsite visits planned for 2026-27. A series of workshops were also tailor-made for a collaboration of
Home-schooled children with whom we've been working with for three years, from language and literacy to Black History. with a focus on the use of primary evidence as a tool of research. The delivery was tailored to students with SEND requirements and the workshops were enjoyed immensely. We also ensure we offer regular opportunities to visit the House for free, including (though not limited to) our monthly lunchtime lecture series. where attendees are offered a lecture. access to V151t the whole house and lunch for free. We also offered free entry to 2,671 people as part of Open House Festival. We continue to develop ties with communities who challenge discrimination based on race gender and physical andl or mental health challenges, to make sure Dr Johnson's House is a welcoming and supportive environment. We have much work to do in this field, but we remain committed to tackling any obstacle people may encounter to enjoying this unique cultur21 site. A close re12tionship has developed with BlindAid, part sponsored by Hoare's Bank, with service users undertaking a series of audio-described visits to the house, with handling sessions, led by the Director, Celine Luppo McDaid. An exhibition is planned for 2027-28, drawing on the extensive archives of the historic charity, BlindAid, led by service users, to explore living with visual impairment in the capital city over the past 300 years. Marketing and Commercial Development This full-time post, job-share between Alice Rosenbaum and Monica Law continues to enhance the work of the team, by increasing the events programme, our online profile and general raised awareness of the House, leading to increased revenue. Highlights of this past year's programme include.. greatly expanded content for our soci21 media platforms and YouTube channel,. the production of a Marketing and Commercial Development three-year strategic plan; an in-depth Vi51tor experience and audience segmentation analysi5- development of partnerships, including with Go City and the Art Fund,. a marked increase in the number of events being staged- and a focus on promoting our various private hire services. The House was used as a location for filming, most notably by Paris Paloma for a music video, which has rched nearly I million viewers. Income from this strM almost doubled the budget target, with a greatly increased profile, leading to many more recces. A priority for 2026-27 is to increase the conversion rate to booking5 and the revenue this generates. Shop The Shop is an area of our commercial activity which we focused on developing, with improvements made to stock and present2tion, through new display furniture. A major project will be undert2ken in 2026-27. These improvements led to sales increasing significantly, amounting to £21,014, up from £18,788 last year- and increase of12%. The American Friends of Dr Johnson's House continue to contribute to the products in the shop and we thank them for their generosity and sharp eye for design. Events Our events programme proved very popular this year, with an expanded offering ranging from academic lectures to work5hop5 to gins tastings. This generated £11,973, an increase of 69% on last year. Following the success of the past three years. we secured another year of funding from The Fleet Street Quarter Business Improvement District to run a 12-month events programme, offering a light lunch and i lecture to attendees. The lunch and talks were free to attend (with a small booking fee
of £3) and were held on the last Thursday of each month throughout 2025-26. Guest speakers also featured as part of this exciting new programme, offering talks on a range of subjects from Black British men and women of note in history around the Fleet Street area, including Franci5 Barber, the naming of canals, the Royal Tours of the Georgian kings and much more. Over 500 people benefited from this programming. Our thanks to the FSQ BID for making this possible. We participated in the Open House Festival 2025 over the course of three days during September, to celebrate London's architectural excellence. Vi51tors were welcomed free-of-charge as part of a city-wide events programme. We welcomed over 2,671 people in total, Ind made over £1,500 in shop sales. We held seasonal Family Dictionary Days over the summer holidays, which drew inter-generational visitors in p2rticular, 2nd now features regularly as part of our community progrnmming. Due to popu12r demand we continued our monthly Museum Lates, 2 ticketed event where the House is open after-hour5 to visitors, who receive a glass of proseccol soft drink on arrival. These evenings have proved very popular. We also staged gin tastings and coffee mornings. Other highlights from our very popular 'Author's Hour, series include Queer Georgians, in conversation with Anthony Delaney, and Johnson, Crime & Punishmen( with Lucy Powell. The House's patrons met at the house for the Gough Square Club annual supper in November 2025 with 23 in attendance. We thank our guest speiker, Prof. Kathryn Sutherland, who spoke about her most recent work on Jane Austen. We continue to welcome people to join our patron5' sroup and support the house and the work we do. In December, the Johnson Society of London met for the annual service at Westminster Abbey and attended a reception at the House following this. Here they 2ttended the Richard Thr21e lecture by Philip Smallwood, with drinks and canapes served afterwards. Members enjoyed the day greatly. The House continued to feature as a 'destination site. for the City of London as part of their three- year cultural strategy, 'Destination City,. Thi5 programming is aimed at attracting and retaining visitors to the City by offering them more cultural places to visit and more to do, and a greater variery of locations at which to eat and to stay, thus increasing their dwell time and spending in the City. We will continue to work closely with the programme directors to ensure we contribute and co112borate closely. as this will further develop our links with the City and the m2rketing power it brings co the area through such an initiative. We also took parc in consultations wich the Fleet Street Quarter to shape the cultural landscape of the area in the years ahead, with improved wayfinding and continued sponsored programming being high priorities. Private hire and private viewings Private hire generated an income of £16,868, comparable to last year. A number of private viewings were conducted this year, generating £2,525, 2 28/0 increase on last year. We also hosted several book launch parcies, including for M.L. Steadman's new novel, A For-flung bfe. Development and Fundraising This year we completed the grantfrom the National Lottery Heritage Fund for the 24-month project to support collections and development work, in 2ddition to enhancing 2nd diversifying the visitor experience (ending in August 2025), with a detailed report Submitted to the funder for the project. The conclusion of the project saw the deparcure of the two funded roles of Operations and Collections Manager and Fundraising Officer, filled by Miranda Charalambous and Alice Gosling. We thank them sincerely for their time, expertise and for all they each contributed to developing Dr Johnson's House as part of our House of Words project.
Following this, we applied for further funding to allow us to capitalise on our successes over the Past two years 2nd to embed our development p12ns into our programming, policies and practices in the years ahead, and to 5UPPOrt the growth in capacity required for us to realise our potential. In March 2026, we were awarded a grnnt of £200,000 for this projec( with match funding of just under £IOO,000 from the Ardeola Trust. the John R. Murray Charitable Trust and a private donor. This project will start in autumn 2026. Further to this, a Conservation grant was iwarded for the work on our library collection from the Leche Trust. We also received events grants and support from the Fleet Street Quarter BID. We secured funding from the Ciry of London for the development of our education programme, and from private donors. We wish to thank all those who support the House through grants and donations. Our Membership Programme and Legacy Giving campaigns continued into a second year. Leaflets are available in the House and the website can be seen at www.dr ohnsonshouse.or membershi This has exceeded the target for the year and will continue to be a focus as we increase and widen our audiences. Our membership base grew marginally as we received three commitments to legacies this year. Risk Management The Directors and Trustees confirm that they have carried out a review of the major risks that Dr Johnson's House faces, and have considered the necessary procedures to minimise any potential impact should those risks materialise. They are committed to the on-going review and revision of our risk management policies and procedures Recruitment As detailed above, thi5 year we a150 welcomed a new House Manager.. Alex BretL Hi5 previou5 experience ha5 already contributed to the work the House does and he 15 an a55et to the team. Eleven volunteers have joined the team in front-of-house and collections-based roles. We have also recruited a gardening volunteer and three of our volunteers have researched and delivered short 'table top talks, once a week, which our visitors greatly enjoy. These popular talk5 $0 far have focused on the compilation of the Dictionory, Georgian fashion and an overview of the socio- economic situation of Great Britain in the 18th century. Aims for 2026-27 At the time of writing this report the Trustees are excited to deliver our strategic plans in our three-ye2r 'House of Words, Forward Plan (or business plan), in order to strengthen the offering of the museum, with a parcicular focus on increased acce55, diversification of audiences and inclusiveness in programming. We will undertake extensive consultation activitie5 Wlth a broad range of stakeholders and potential stakeholders as part of our interpretation plan under this £300,000 project. Plans also include 2 significant expansion of activities on site and online and the implementation of plans to secure the long-term future of the organisation. Further to the implementation of this fotward plan: Charitoble oims.. we will continue the on-going preservation 2nd interpretation of the buildingy collections and programming by further developing and implementing our strategy for the House of Words programme. 10
Collections ond E¥hibitions.' We will continue to increase accessibility to our collections and develop partnerships for community-led co-curated exhibitions and events progr2mmes, in addition to on-going re12tionships with academics in various relevant fields. We will begin the digitisation of our collections 2nd the creation of a digital Collections Management plarform, accessible for free online as part of our House of Word5 project. Exhibitions.. A new exhibition celebrating the 125 anniversary of the Times Literary Supplement will be staged in summer 2027 as a collaboration between our organisation and the TLS. Planning for an exhibition on Francis Barber and related subjects will begin, with partnerships and funding to be sourced. Education. Dr Johnson's Alphabet,, devised to support the acquisition of language in children (aged O-5} will be launched in September 2026. Educational and recreational materials will be available to Early Years Practitioners and Educators across London with a rich array of digital resources produced available via our website for free. CPD opportunicies and triining will also be provided as part of this project, with an anticipated reach of 6000+ pupils. A recreational version will be available via our Gift Shop with activities and games targeting a broader age range. Commercial income generation- We have Set ambitious targets for income generation for 2026- 27 through House activities (admissions, events, Priva hire, retails etc.} as parc of our development and to address the financial deficit. This amounts to a total projected income 32% greater than the budgetary 2ims for 2025-26 with the aim of being break-even by 2028. Shop.. A project to refurbish the shop and enhance our retail offer will be devised and delivered. A new Guidebook celebrating Dr Johnson's House as 'The House of Words, will be published. Blue Plaque.. Following a successful if long campaign, the House will inst2112 permanent plaque in late 2026, dedicated to Francis Barber to mark hi5 residency at 17 Gough Square and his remarkable life, not least as the first person of African descent on record to open a school in this country. An unveiling ceremony will take place with strong media presence, with special guests to include descendants of Francis Barber and the Lord Mayor of the City of London. A programme of events and educational activities is scheduled throughout 2027 to celebrate Francis Barber and explore Black British history, the transatlantic slave trade and Empire more broadly, and the celebration of the diversification of the English language. Literory Festivol.. The Fleet Street Quirter Literiry Festival: Dr Johnson's House is collaborating again with the FSQ to deliver a Literary Festival in May 2027. There will be a lot of press coverage to take advantage of. The House will host between eight to ten events over the course of four days. with high-profile authors. poets, broadcasters and performers t2king part. To complement and enhance previous audience segmentation and visitor experience survey, the House has secured funding to partner with Worcester Polytechnic Institute, Massachusetts, to conduct a detailed Audience Analysis and Visitor Segmentation and Evaluition project from May-june 2026. This will re5ulc in a Comprehensive report ¢ontaining quantitative and qualitative data which supports our on-going review of the visitor experience and current visitor demographics as part of our transformative interpretation, diversification and enhanced visitor experience House of Words projecL
Arts Council England Museum Accreditotion.- Once invited, we will submit our application to ACE to retain our status as an accredited museum this ye2r. Our three-ye2r business plan is in place and focuses on Drjohnson's House as the House of Words. House of Words.'We will deliver the £300,00 projecc funded by the NLHF, the Ardeola TrusL the John. R. Murray Charitable Trust 2nd priv2te donors, to bring the House of Words project to fruition over the next three years. We will continue further fundraising activities and commerciil development to support all future project5. Investment portfolio: The investments recorded an unrealised loss of £122,246, as at 31 March 2026, leiving their vilue at just under £1.41 m in these accounts. As noted above, the income generated from this portfolio continues to be 2n essential part of the House's income, without which in 2 'norm21' triding year it would incur 2 substsntiil loss. However, it also acted as a buffer in times of crisis such as the Covid-19 p2ndemic, enabling the Trustees to take a measured approach to costs. It ensures that we can continue as a going concern for the foreseeable future. However, the Trustees are mindful of the need to maintain and try to build this investment portfolio 2nd the income it produces. The Trustees may invest in any securities approved by law for the investment of trust or charitable monies or such other securities as the Trustees may from time to time ipprove. Independent advisers, appointed by the Trustees, manage the Trust's investment porcfolio with a view to capital maintenance and the generation of income on a mid - to - low risk basis. The Trust purchased C.O.l.F. income units managed by CCLA in April 2021, following 2 total return approach. The objective is to draw down 3.25% each year, based on the average of the last five years, portfolio valuations, with any difference between that and actual income received being re- invested or withdrawn Reserves Policy and going concern: As noted under investments above, investment income is a key element ofthe Trust's overall income for the year and the high level of reserves held reflects this. The Trust has a single permanent endowment comprising the House, chattels and some of the investments deemed to belong to the original endowment under the scheme approved by the Charity commission on 30 October 2008. The endowment provide5 for the Tru5tee5 to inve5C the capital in perpetuity, the income from which is wholly unrestricted. The endowment fund amounts to £126,642 at 31 March 2026. The Donild Hyde Curatorial Fund is a designated fund for the payment of the saliry and related costs of The Hyde Director (our curatorial member of staff). Between 2003 and 2006 a legacy of £924,657 was received from Lady Mary Eccles in memory of her first husband, Donald Hyde. A major part of this, £750.000, was 2ppropriately designated by the Trust as the Donald Hyde Curatorial Fund in 2017, to ensure sufficient funds for the salary and related costs of The Hyde Director. This fund stands at £520,702 (£536,036 as per Note 13) at 31 March 2026. A
designated Capl(al ¢r¥¢ wa5 opened In 2021122 wlih £ IOOK 10 earmark fvndinz for lortkomiftg repairs and decorafions, £81,089 wa5 Sptslt on extertl repalrs from thls Re5erv¢ during the year. leaving a balance of £18.91 l at 31 Marth 2023. A furrher Ll.777 wJ5 spenr in 2023Q4 and arther £1.8W was spenc in 2024Q5 lavln8 a balance of £ I S.3J4 at 31 March 2016. The rema1ft£ unre5rriaed funds. amountlng to £798.999. are reqund to produce ¢¢)mO to SUPFK)rr the Trwt's 0[r core running cosrs. IndLKn& maintenance and canserouon. arKI w help 0d{ fijnds whKh need partnershp fundin& The Reser*¢s posltion ensures that Trust is a C<Kbtèrn and thai li will be able to con¢bnue its Ctorhable oblecuyes for the lor¢s¢¢able futur¢ Dlr•ctors' and Trurte•s' responsibillt1 In r•lation to th• financial statements Company law requires th• Dlrectors and Trnsc••s to prepare financi statém¢nts that pve a tr and falr vlew d the sta¢e affalrj of the C¢w Charity at tht tnd of the fiMnci•l ptrlod of lu surplus ¢x deficit for the fiMncial perlod. In x) doin& the Directors and Trust••s ar• r•qulr•d to: selecr suluble accouThung pollcies and appFy them c¢)nsi51enrly make sound judgemenrs and esumares thai are reas¢)nabie and prudent prepare the finants'al statements on a going Concern basls unless it is approprtate to presw that the Company wal not continue In business The Directors and Trustees are responsible k)r mainraining proper accounf¥¥ rerords which disclose wrth rea$(able accur4Cy at any tme the fir4Dci31 position of the Company and enable them to ensure tha¢ the financial stai¢menu comply wlth the Coryanies Aci 2(K16. They are also responsible for saferdIng the as5et5 01 the Coryny and (aking reasonable sreps for the prevention and de¢10 ol frnud and ¢th¢r Irrqularities. Ind•p•nd•nt Examln•r Our Independent Enminer, Stephen McAlpne. P4$ a8rted to continue for the comifflz fiTr•ncial year. prtsv by the trustees 6° Juty 2026 and syied on thr behalf by Akn &bbir& Onorary Treasurer) 13
DR JOHNSON'S HOUSE TRUST UMITED
Indgpend•nt examin•rfs report
To th• truste•s of Dr John8on'$ House Tru•t Llrnlt•d
I roport10 the charity trustees my examinabon of the 8¢¢wnts of Dr John6Wt'i Hwje Tfust
Limrt•d Ilhe Company'> for the year ended 31 MaT( 2026.
R•#pon$lbllhlH •nd bas5• ol r•wt
As the trle8S of the charftsble ¢¢Ynpany also Its directors for the purpose of c(x)wny
law) yl)u are re¥w)r6il)18 for the preparabon of the aCcts in ac(<rdan with the
requlr8menlB ol th8 Cornpan Act 2{ (Ihe 2W6 Ad,).
Haviry Saltsf rnyselfthai acayjnts of the Cornpany awe r8quir0d to bo &Mtod und•r
Part 16 of Ihe 20( Acl and are olyible for indeperKlgnt examinakn'on. I report In resped of my
examinabon of your chanty's Kcounls as camed oul under seckn'on 145 ol the Charilies Acl
2011 {'the 2011 Acl'l In canying out my examinatson I have follofftd Ihé Directions gNen by
the Cha¢ty CiThmlssK)n wxJ8r section 145151 (bl of the 2011 Act.
Ind•p•nd•nt •xarnln•rfs •l•t•mont
I hava u)mpl•lgd my examknalThi. l (y)nfinm Ihat no rnaterijl maiters h8V8 c(Th lo my
attentn bn c¢JnTbeclMxi wlth the examinalK)n whKh mb cse lo bela•v• that in. ary
maleri31 ffjspoct:
Ihe accounts'w re(xyds tfe not kepl in 8ccordar•ce with section 386 of Ihe Companles
Act 2006: or
tho accounts Th)t accoT(I wth Iho accounthng reo)rds: or
the 8ccounls rK)I comply wrth thé appl&qtqe requiremgnls conc4mKvJ the lom •r
content of aGwunls set oul urKler sects)n 396 of Ctynp3nies Act 011r Ihan any
fequiremnl Ihal Its accounts give a 'tnJe and lairf v*w whKh is not• matter con$id8red
bs part ol an Independent examInal>'. Of
the 8co)unts have been propared in ac
DR JOHONSON'S HOUSE TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2026 Unr8Stricted Designated Restricted Endowment Total funds Total fund5 funds funds funds funds 2026 2025 Note5 Income Donation5 and grants Investment income and interest House and other InMe 29,052 20,366 115,849 65.617 94,669 46,863 115,849 106,763 45,911 100,927 23,366 3,131 Total In¢ome 165,267 23,366 65,617 3,131 257,381 253.601 Expenditure Inv8Stm8nt m8nagement f88S House. exhibitions and admin costs Accountancy and independent examination Capital costs 3,986 145.877 4,679 64.084 628 9,293 310.502 9,846 256.378 100,541 1,937 1,937 1,845 1,800 Total expendlture 151,800 68,763 1,541 628 321,732 269,869 Net incorne before investment gains and lo$$es 13,467 145,3971 134,9241 2,503 164.3511 116,2681 Realised gainlllossl on disposal of investments Unr88lis8d gainlllossl on valuation of investments 152,3901 161,5021 18,3541 1122,2461 167,0311 N8t incom81lexpendilur81 Transfers between funds 138,9231 7.642 1106,8991 134,9241 17.6421 15,8511 1186,5971 183,2981 Nel movement in funds 131,2811 1106,8991 142.5671 15,8511 1186,5971 183,2981 Reconciliation of funds Funds brought forward 830,280 642,934 56,113 132,494 1,661,820 1,745,119 Fund5 carried forward 13 798,999 536,035 13,547 126,642 1,475,224 1,661,820 15
DR JOHNSON3 HOUSE TRUST UMITED 8WICE SHEET AS A T 31 MARCH IOZ6 •l•d ••••¥ JJD7,317 7Jl• 37.•10 soi¢J JA6L421 855.611 i&Jy l1J4? 5&1U 1$ 14021 16
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollcles lal Ba$1$ Of preparation Dr John50n5 House Trust Limited 15 a prwale charitable cornpany litnited by guarantee and incorporated in England and Wales. In the event of the charity bÈing wound up. the liability in Spe¢t of the guarantee is limited to £1 per member of the ¢harily. The address of the register&d office is giv8n in the charity information on page 1 of th8se accounts. The eharity constitutes a public b8n8fil entity as defin8d by FRS 102. The financial statements have b88n prepared in aceordanc8 with Accounting and Reporting by Charities.. St8temenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Retorbng Sland3rd applicable in the UK Republic of Ireland IFRS 1021 issued on 16 July 2014 las updated through Update Bulletin 1 published on 2 Febru8ry 20161, the Financial Reporting Standard applicable In the United Kingdom and R8public of Ireland IFRS 1021, the Chariti88 Act 2011, th8 Compani88 Act 2006 and UK Generally Accepl8d Practice as it applies from 1 January 2015. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not indude s cash flow statement on the ground5 that it 15 applwng FRS 102 Section 1A. The accounts are prepared on a going concern basi5 under the historical cost convention a5 tnodrfied by the inclusion of fixed asset InvÈslmÈnts al market value. The accounts are presented in sterling which is the fundional curr&ncy of the charity and rounded to the near8St £. The significant accounting wlities appli&d in the preparation of these accounts are sel out below. These polici&8 have b&Èn con81Stenlly applied to 811 years presented unless otherwise stated. Ibl Income All in¢ome is enised when 1vable by Y)e Trust This in¢ludes any lated Grft A. Donations and gr8nts included in the slalement of financial 8Ctiwties when 1Vable by the Trust. This includes any related gift aid. Investment incotne is included when receivable. and indudes any re13ted tax recoverable. Inve5ttnent incorne arising from endovmienl assets is wholly unreslricled. Income from grants is retognis&d at fair value when the charity ha8 enlillem&nt aft&r any performance conditions have been met, it is probable that the income will be received 8nd the amount can be measured reliably. If enlillemenl is not Tnet then these amounts are deferred. In¢ome from admissions to the House. le¢lures and other events. lettings of the House and Shop in¢ome are in¢luded when receivabl8. Icl Expendlture Expenditure is recognised on an sccruals basis as soon as there is a legal or constructive obligation committing the charity to the expenditure , it 15 probable that settlement will be required and the atrbount of the obligation can be measured reliably. Expenditure Include8 any VAT which cannot b& fully recovered. Idl Herltage and tanglble flxed assets Tangible fixed a8sets held for continuing us8 by th8 Trust ar8 recorded at original cost, or in th8 ca88 of don8t8d 88S81s, al 8 valuation. Heritage assets are not revalued as it is considered that any valuation would be very subjective and the cost of valuation would outweigh any benefit re¢eived. Heritage assets fortn part of the perrnanenl endowtnent of the Trust and ¢annot be disposed of. A r8gi81er of all heritage assets h&ld by the Tru81 is availabl& and the assets thems8lv88 are acc8ssibl& to the public. No d8preci8tion 18 charg8d on heritage assets a8 It is the intention of the trustees to ensure Ih&se ar8 m8int8in8d to the highest stsndard and their sIdUal value will be in excess of cost. Depreciation of other fixed $5sels is provided in order lo write off the cost or valuation less 3ny residual v31ue of each asset evenly over its es1itDated useful life of four years on the straight line ba51S.
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 lel Inve$lment$ Fixed 2ssÈl Invo8lmonts are intruded at fair Imarketl value at the balance sheet dale. Realised gains or losses on the disposal of inv88lm&nt8 together with unr881ised gains or108ses r8sulling from th8 movement in fair valu8 of the inv8stm8nls during the year are shown in the ststemenl of financial actpiities. lfj Stock Stock repr&8ents purchased gOS held for resale In the Shop and valued al th& bwer of co81 and net realisable value. Igl Debtors and credltors Debtors and creditors with no stated interest rate and [e1Vable or payable within one year are recorded at transaction price. Any losses arising from impairment are rewnised in exnditure. Ihl Penslons Contributions to thè govemment auto-enrolment stheme are charged to th& statement of financial activities in the year thÈy are payable. lil Foreign currencie5 Transadions in foreign ¢Un¢le$ a cOgnised al the rate of ex¢hange at tt)e date of the Iransa¢lion. Monetary assets and liabilities are translated into st8rting at th8 8xchang8 rat8 on th8 balance sheet date. All exchange diff8r8ne88 are recognised through the ststement of financisl activities. til Fund aG¢ounting Unrestricted funds are the general funds of the charity 2nd are expendabl& al th& discretion of the trustees in furtherance of the object8 of the Tru8t. They includ8 a r8V8Iu81ion r888r48 which represents th8 diff8r8nc8 betwe8n unrestricted inv88tments at mark8t vslue and historic C051. Restricted funds represent grants and donations received that can only be used for the particular purposel515tipulated by the donor. Any deficit on a re5tricled fund 15 elitninated by transferfrotn unrestricted funds. The charity has 8 single perm8nent endowment comprising the House, chattels and some of the investments deerned lo belong to the original endowment under the Scheme approved by the Charity Commission on 30 October 2008. The endowment is 3 linked charity of the main charity. The Èndowment provides for the trustees to Inv&81 th& capital in perp&tuity, the Income from which is wholly unrestricted. Endowment funds include a r8valuatK)n reserve which repr8senls th8 diff8r8nc8 b8tW88n endowment investments st market value and historic C05t. Ikl Golng Concern Al the time of approving th& financial slal&ments. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in op8ration818xisl8nce for th8 for8888abl8 future. Thu8 th8 Irusl8es continue to 8dopt th8 going concern basi8 of accounting in preparing the financial statements
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Donations and grants 2026 2025 Gough Square Club subscriptions Individual donations Gift Aid City of London Solicitors.. unrestricted The Ardeola Trust American Friends of Dr Johnson's House Nation81 Lottery Heritsge Fund Fleet Street Quarter Funds Golden Bottle grant City Briddge Foundation.. D8Stination City City of London.. Education City of London.. Actsss Audit City of London.. Inspiring CLJltur The Leche Trust Metropolitan Public Gardens Association Membership 20,606 1,740 3,220 2,000 25,000 9,892 9.975 8,000 18,921 4,398 824 39.900 5,000 10,000 4,750 6,000 14,900 3,168 8,750 2.000 570 332 1,487 94.669 106,763 Income from donations and grants was £94,66912025 - £106,763) of which £29,05212025- £32,875) was attributable to unrestricted and £65,61712025- £73,888) was attributable to restricted funds. Investment income 2026 2025 Income from UK listed investments UK bank interest receivable 46,402 461 45,171 740 46.863 45,911 l investment incotne, including that arising on endoyment assets, is attributable to Ljnrestricted funds. An appropriate allocation is then made to the Donald Hyde Curatorial Designated Fund, to reflect the investment. House and other Incom• 2026 2025 House admissions Shop sales Venue hire Education groups Tours Private views Camera. filming, photo library Events, lectures & plays 49,419 21,014 16,868 7,573 3,226 2,525 3,250 11,973 46,778 18,789 16,968 8,208 1,975 1,131 7,078 115,849 100.927 I House 8nd other is attribut8ble to unrestrided funds. 19
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Total expenditure 2026 2025 Investment management fees 9,293 9,846 Consultancy Costs 29,312 19,179 House, exhibition5 and admin costs Advertising and marketing Bank charges Book acquisition Book eonservation Golledion care Development costs Education projects Events and tslks Exhibitions General House expenses Gouqh Square Club Costs Insurance ITltelecom & other admin Library cataloguing Membership & Subscription Private views Property repairs and maintenance.. Cottaoe Propetfy repairs and tnaintenance.. House Rates and services (Cottagel Rates and ServIS (House) Shop purchases Staff costs Temporary staff The Alphabet Project 1,712 2,511 1,070 2,274 1,181 7,790 89 5,411 201 3,829 3,559 10.669 2,400 2,111 466 243 1,478 38,516 3,141 5,468 9,002 161.134 9,911 2,182 2,489 123 376 6,781 121 7,045 10,959 5,529 3,416 9,431 6,338 3,066 581 116 19,444 2,436 4,505 7,369 142.903 250 Education consultancv Traininq Trustee expenses Isee note 141 Venue hire 3,600 2,455 164 887 586 457 695 281,271 237,199 Accountancy and Independent examlnatlon 1,856 1,845 Capital costs 1,800 Totsl expenditure 321,732 269,869 House, exhibitions and admin costs were £321,732 12025 - £269.8691 of which £151,800 12025 - £133,644) was attributable to unrestricted, £68,763 was attributable to designated12025 - £66,439) and £100,541 12025 - £69,128) was attributable to r8stricted funds. All investment management fees and accountancy and independent examination costs are allribulable lo unrestricted funds bLrt an appropri8le charge is then made lo the Donald Hyde Curatorial Designated Fund and Endowment Fund for the investment management fees. £14,40012025- £4,000) of the Consultancy costs was attributable to restricled funds and the rest to unrestricted funds. Capital costs are paid OLJt of the designated Capital Reserve. Net incomellexpenditurel for the year 2026 2025 This is staled after charging.. Gain I Ilossl on fair value rnovetnent of inv85tments Accountants, lees independent examination accountancy and payroll 1122,2461 1,056 720 167,0311 1,020 720 20
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Informatlon regardlng staff, trustees and related partles Unrestr. 2026 Designated 2026 Restricted 2026 Total 2026 Total 2025 Gross salari85 Employerfs national insurance Employerfs pension contributions 82,342 5,202 1,830 55,741 2,999 2,000 10,775 148,858 8,201 4,075 131,439 7,700 3,764 245 89,374 60,740 11,020 161,134 142,903 On average 3.2912025 - 3.21 employees were employed during the year. No employee eams in excess of £60,000 per year. There was an outstanding payment of £4,003 to HMRC at 31 March 2026. Salary costs relating to the Donald Hyde Curator are paid out of a designat8d fund. The Co118Ction and Op8iation Manag8rfs salary costs are paid out of National Lottery Heritsge Fund grant. Heritage and tangible as$ets Heritage assets Tangible assets - èquipment Total Cost At 1 April 2025 15,282 15,282 At 1 April 2025 and at 31 Maroh 2026 15,282 15,282 Dèpr•eiation At 1 April 2025 and at 31 March 2026 Net book value At 31 March 2026 15,282 15,282 Heritage assets comprise the House at 17 Gough Square and chatlels forming part ol the original endowment of the Trust and cannot be disposed ol. No additions or disposals have been made in the last live years. Heritage assets are not revalued as it is considered that any valuation would be very subjective and the cost of valuation would outweigh any benefit received.
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Fixed asset investments Unrèstrlet•d Endowmènt Total funds fijnds funds 2026 Total funds 2025 C.O.l.F. in¢ome units Brought ltsrward at 1 April 2025 Sale of inv85tm8nt Capital returns Management Fees 1,463,021 125,0001 1113.8921 18,6651 105,351 1,568,372 125,0001 1122,2461 19,2931 1,650,104 18.3541 16281 167,0301 19,8461 1.315,464 96,369 1,411,833 1,573.228 To be re-invested I Iwthdrawnl 14,4461 14,4461 14,8561 1311018 1407 387 1568 372 In April 2021, following a process of t8nd8ring, th8 Trust liquidated its inv85tm8nts held wth Charf8s Stanley and purchased C.O.l.F income units managed by CCLA. following a total relum approach. The objective is lo draw down 3.25°/o each year. based on the average of the last five years, portfolio valuations, with any difference between that and actual income received being re-invested or withdrawn. All investments are held primarily to provide an investment return for the Trust, but investments forming part of the permanent endowment can only be exchanged and not disposed of. Permanent endowment investments were valued al £96,369 at 31 March 2026. 10 Debtors 2026 2025 Other debtors Prepayments 29,609 10,441 26,338 11,272 40.050 37,610 Creditors= amounts falling due within one year 2026 2025 Trade creditors and deferred income Accruals 58,982 3,994 13,694 3,400 62,975 17,094 22
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 12 AnalysSs of net assets betsyeen funds Unrestricted funds Designated Restricted Endowment funds funds funds Totsl funds Heritage assets Tangible assets Investments Net CLJrrent ass8ts 15,282 15,282 745,855 53,144 473,649 62,386 111,360 1,330,865 129,077 13,547 798,999 536,036 13,547 126,642 1,475,224 13 Funds At 1 April 2,025 Income Expenditure Net Investment gains Transfers At 31 March between 2,026 funds Unrestrictsd fijnds General income funds Revaluation r858rv8 809,501 20,779 165,267 1151,8001 7,642 830,611 131,6111 152,3901 830,280 165,267 1151,8001 152,3901 7,642 798,999 Deslgnated funds Donald Hyde Curator Revaluation reserve Capital reserve 544,513 83.087 15,334 23,366 168,7631 499,116 21,585 15,334 161,5021 642,934 23,366 168,7631 61,502 536,036 Restrlcted funds City of London specific projects Curious Travellers Sponsor Kitty Baserrent Project Friends of National Library NLHF 5,505 344 243 50 1,500 7,495 1,318 5,986 9.989 14,900 15,5051 13441 12431 1501 11,5001 9,975 25,000 117,4701 126,3181 15,9861 117.9891 114,5401 12,1821 Ardeols Trust John R Murray Trust FSQ grant City of London.. Education City of London." Destination City City of London.. Inspiring Culture City of London.. Alphabet Proj8Ct The Leche Trust American Friends of DJH Restricted donations.. book acquis 8,000 360 2.568 8,050 2,359 4,750 8,050 6,000 2,000 9,892 13,6411 12,0001 19,8921 15241 734 210 56.113 65,617 1100.5411 7.642 13,547 Endowmant funds Permanent endowTnent funds Revaluation reserve 125.007 7,487 3,131 16281 127.510 18671 18,3541 132,494 3,131 628 8,354 126,642 Total funds 1,661,821 257,381 1321,7321 1122,2461 1,475,224 23
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 14 Revaluatlon reserves Revaluation reserves represent the differen in value between investments at market value and historic cost, as required by the Companies Act 2006. These reserves fom part ol Ihe funds in which the investments are held. Restrlcted funds: £9,975 was received from National Lottery Heritsge Fund £8,000 was received from Fleet Street Quarter Grants From City of London, £6,000 was reTrived for EducationlAlpabet Project and £4,750 for Deslination City £25,000 was received from The Ardeola Trust £2,000 was received from The Leche Trust £9,892 was received from The American Friends of Dr. Johnson's House Sufficient resources are held to enable each fund to be applied in accordance with any relevant restrictions. Permanent endowment: The permanent endowment was created by the Scheme approved by Ihe Charity Commission on 30 October 2008. The purpose of the fund is to ring-fence the House, chattels and investments deemed to constitute the original endowment of the Trust. Income arising frotn the endowment investm8nts is unrestricted, but th8 heritage assets cannot b8 sold or transferred out of the endowment fund. The endowrmenl is 8 linked charity of the main charity. Designated Funds On 21 June 2017 the Finan Committee and Full Board agreed lo designate £750.000 as the Donald Hyde Curatorial Fund, to provide the salary and other costs associated with the engagement of the Donald Hyde Curator. On 8 March 2022 the Finance Comrnittee and Full Board approved a Capital Reserve for future works. An initial sum of £100,000 was designated to this Reserve Fund. £81,089 was spent from this fund on external re-decoration during 2022123, 8 fvrther £1,777 was spent in 2023124 and £1.800 in 2024125. Trustee Expenses Trustee expenses were incurred for traveling to meetings in London except for the Board meetings. 24
DR. JOHNSON'S HOUSE TRUST LTD. NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 15 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR EAIDED31 MARCH 2025 Unrestricted Designated funds funds Restricted Endowment Total funds Total funds funds funds 2025 2024 Note 15 Income Donations and grants Investment income and interest House and other income 32,875 20,128 100,927 73,888 106,763 45,911 10Q,927 133,854 45,072 73,206 22,760 3,023 Total Sncome 153,930 22,760 73,888 3,023 253,601 252,132 Expenditurè Investment management fees House, exnioitions ana aamin costs Accountancy and independent examination Capital Costs 4,226 4,961 659 9,846 9,245 127,572 59,678 69,128 256,378 232,043 1,845 1,845 1,800 1,698 1,800 Total expendSture 133,644 66,439 69,128 659 269,869 242,986 Net in¢ome before investment gains and Realised gainlllossl on disposal of investments Unrealised gainlllossl on revaluation of investments 20,286 143,6791 4,761 2,364 116,2681 9,146 -28,984 -34,025 -4,021 -67,031 146,641 Net incomellexpenditure} Transfers between funds 18.6981 177,7041 4,761 11,6571 183,2981 155,787 Net movement in fvnd 18,6981 177,7041 4,761 11,6571 183,2981 155,787 Reconclllatlon of funds Funds brought forward 838,977 720,637 51,353 134,151 1,745,119 1,589,332 Funds carrlad fotward 830,280 642,933 56,114 132,494 1,661,820 1,745,119 25