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 be￿een 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 r￿ched nearly I million viewers. Income from this str￿M 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 ar￿ther
£1.8W was spenc in 2024Q5 l*avln8 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. IndLK*n& 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$(￿able accur4Cy at any tme the fir4Dci31 position of the Company and enable them
to ensure tha¢ the financial stai¢menu comply wlth the Coryanies Aci 2(K16. They are also
responsible for safe￿rdIng the as5et5 01 the Coryny and (aking reasonable sreps for the
prevention and de￿¢10￿ ol frnud and ¢th¢r Irrqularities.
Ind•p•nd•nt Examln•r
Our Independent Enminer, Stephen McAlpne. P4$ a8rted to continue for the comifflz fiTr•ncial year.
prtsv￿ by the trustees 6° Juty 2026 and syied on th￿r 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$lbllhlH •nd bas5• ol r•wt
As the tr￿le8S of the charftsble ¢¢Ynpany also Its directors for the purpose of c(x)wny
law) yl)u are re¥w)r6il)18 for the preparabon of the aCc￿ts in ac(<*rdan￿ with the
requlr8menlB ol th8 Cornpan￿ Act 2{￿ (Ihe 2W6 Ad,).
Haviry Saltsf￿ rnyselfthai ￿ acayjnts of the Cornpany awe r8quir0d to bo &M*tod und•r
Part 16 of Ihe 20(￿ Acl and are olyible for indeperKlgnt examinakn'on. I report In resped of my
examinabon of your chanty's Kcounls as camed oul under seckn'on 145 ol the Charilies Acl
2011 {'the 2011 Acl'l In canying out my examinatson I have follofftd Ihé Directions gNen by
the Cha¢ty CiThmlssK)n wxJ8r section 145151 (bl of the 2011 Act.
Ind•p•nd•nt •xarnln•rfs •l•t•mont
I hava u)mpl•lgd my examknalThi. l (y)nfinm Ihat no rnaterijl maiters h8V8 c(Th lo my
attent￿n bn c¢JnTbeclMxi wlth the examinalK)n whKh mb c￿se lo bela•v• that in. ary
maleri31 ffjspoct:
Ihe accounts'w re(xyds *tfe not kepl in 8ccordar•ce with section 386 of Ihe Companles
Act 2006: or
tho accounts Th)t accoT(I wth Iho accounthng reo)rds: or
the 8ccounls rK)I comply wrth thé appl&qtqe requiremgnls conc4mKvJ the lom •r
content of aGwunls set oul urKler sects)n 396 of Ctynp3nies Act 011￿r Ihan any
fequiremnl Ihal Its accounts give a 'tnJe and lairf v*w whKh is not• matter con$id8red
bs part ol an Independent examInal￿>￿'. Of
the 8co)unts have been propared in ac<xKdanc¢ wth Ihe m8thods and pnncpl8s ol
the Stalen￿nI of Recommended Practice for accounb'rMJ and reporting by Chari￿$
applicab￿ to charibes prepanng their accounls In acc4ydance wilh Ihe Financial
Reporting Star•Jard appI￿a￿e in the UK af¥J Rarthl￿ ol Ireland (FRS 1021.
I have rbo C￿C￿nS and have c(¥ne across rrf) olhef matters In conrn¢ts'(m wtth Ihe
eXaM￿at￿n lo allenlk>Tr 8￿Uld be drawn In this rnp(xl in (Kdef to onabl• a propor
urxlersianding of 8cix)unts to be reathed.
Slephgn 8 ￿￿11p1n9 BA(Econl FCA
Sem AsxKlate8 Llmrted. trading as SBM & Co
Free(lrnan House
Christopher Wren Yard
117 High Street
Croydon
CRO IQG
6 Juty 2026
14

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 In￿Me
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
8W*ICE 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 ￿e￿nised 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 gO￿S 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 ex￿nditure.
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 ¢U￿n¢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 ServI￿S (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