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← Saffron Walden Museum Society Limited

2025-03-31-accounts

Saffron Walden Museum Society Limited (a company limited by guarantee)

Report and Financial Statements for the year ended 31 March 2025

Company number 06469141 Charity Number 1123209

Saffron Walden Museum Society Limited

Directors and Trustees

The directors of the charitable company are its trustees for the purpose of charity law. The trustees and other officers serving during the year and since the year end are as follows: -

K L Eden – Chairman M Head appointed 6 October 2025 D D Kent R J Priestley P S Salvidge S C Sharpe Cllr M Sutton E Anthony Watson

Company Secretary and Treasurer

S C Sharpe FCA

Registered Office

Saffron Walden Museum, Museum Street, Saffron Walden, Essex CB10 1JL

Company Number

06469141

Charity Number

1123209

Investment Advisers and Custodians

Charles Stanley and Company Limited, 1st Floor, 3 Station Square, Cambridge CB1 2GB

Bankers

CAF Bank Limited, 25 Kings Hill Avenue, West Malling, Kent ME19 4JQ Saffron Building Society, 1A Market Street, Saffron Walden, Essex CB10 1HX Shawbrook Bank, Lutea House, Warley Hill Business Park, Brentwood, Essex CM13 3BE

Independent Examiner

Amanda Prentice FCCA Abbey House, 51 High Street, Saffron Walden, Essex CB10 1AF

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Saffron Walden Museum Society Limited

Chairman’s Report

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2025 which are also prepared to meet the requirements of the directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting 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 (FRS102)

Keith L Eden Chairman

Directors’ Report

The directors present their report and financial statements for the year ended 31 March 2025.

Status

The Company was incorporated as a company limited by guarantee on 10 January 2008 and was registered as a charity by the Charity Commission on 14 March 2008. The Company was formed to take over the assets, liabilities and operations of Saffron Walden Museum Society, a registered charity. The Society was dissolved on 8 August 2008 and no transactions took place within the Company until after that date.

Aims

The aims of the Company are to promote the study and extend the knowledge of natural history and human history in all their branches and to further these aims to carry on the museum at Saffron Walden, to arrange lectures, demonstrations, and other activities from time to time both within the museum and elsewhere.

The Company has continued to provide lectures for members of the Society, both in winter by Zoom meetings and in the rather better weather by face-to-face meetings.

The Company’s freehold and leasehold property, museum specimens and objects are let to Uttlesford District Council rent-free. Under the terms of the lease and a separate management agreement Uttlesford District Council are responsible for the day-to-day running of the museum including meeting the salary costs of the curator and other staff, the maintenance of the fabric of the property and the responsibility for the collection of income. This income and expenditure is not therefore reflected in the attached accounts.

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Saffron Walden Museum Society Limited

Directors’ Report - continued

Management

The day-to-day management of the company is the responsibility of the directors acting under the Articles of Association of the company. Under these Articles, the directors are advised and aided by two committees responsible for particular aspects of the Museum: a Development Committee for planning the future of the Museum; an Organisation Committee for assisting in the ongoing running of the Museum, the management of events for members and other services. The Directors have power to appoint members to these Committees under rules made under powers given by clause 52 of the Articles of Association.

The Board also appoints five Directors to the Museum Management Working Group of the Uttlesford District Council to review and advise on the running of the Saffron Walden Museum Service.

The Rules adopted under the Constitution created the positions of up to four Honorary Vice Presidents to acknowledge the distinguished service given to the Society by a member: they are Mrs S Hollingworth and Mr D Laing.

The persons who acted as directors during the year were: K L Eden (re-elected 26 August 2022 and re-elected as chairman for one year in 2024 D D Kent (re-elected 29 November 2024)

R J Priestley (re-elected 26 August 2022) P S Salvidge (re-elected 8 September 2023) Mrs S C Sharpe (re-elected 8 September 2023) Cllr M Sutton (appointed by UDC) E Anthony Watson (re-elected 29 November 2024)

The directors retiring by rotation are Mr K L Eden and Mr R J Priestley who offer themselves for re-election. as will Mr M Head who was appointed by the board on 6 October 2025. Mrs S.C. Sharpe has given notice of her retirement at the Annual General Meeting and will not be seeking re-election.

The Museum Society’s investments are held by custodian trustees, Charles Stanley and Company Limited.

Annual Review

There was reference made in last years review to the appointment of a jointly funded (by UDC and the SWMS) consultant Sam Hunt to look at future options for the Society. During the first quarter of the year a “field programme” was undertaken including the Chairman and vice Chairman visiting a number of museums that had alternative business models to gain a clear understanding of how they operated without 100% taxpayer funding.

At a meeting on 2[nd] August with UDC Chief Executive, Peter Holt, Sam Hunt and the Society discussed the consultant’s suggested options. The outcome was to “pause the timetable” and for further research to be commissioned about the Museum being more clearly Uttlesford focussed.

In October the Government formally announced it planned a reorganisation of local government and UDC cancelled the proposed research. In mid-January 2025 the Society was formally advised by UDC that the discussions around their revised budget planning was cancelled and UDC management would be focused on the forthcoming reorganisation as Essex County Council had agreed with the government to be an “early adopter”.

Saffron Walden Museum Society Limited

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Directors’ Report – continued

Annual Review, continued

The Society would not be having a long-term funding plan discussions with a new Unitary Authority before 2027 and the Board agreed the resumption of the Development Committee to ensure our pursuit of a “Vision of 2035”, the 200[th] anniversary of the Museum, was continued. In March the first Development meeting agreed a 3 sub-group plan with the priority being give of the Buildings & Collection subgroup. The Building & Collections committed to a report with recommendations by June 2025.

The Society has, for a second year running received a very substantial donation. The £100,000 will provide even greater security for the Museum’s future. The Board expresses its grateful thanks to the Donor.

Also to be thanked are the Interim Curator Jenny Oxley and her team of staff and volunteers. Through energy, enthusiasm and hard work they have continued to grow interest from the public both with museum visitors, website contact and via Facebook and Instagram and our outreach activities.

Financial Review

The principal activities of the Society during the year are set out in the attached statement of financial activities and the directors intend to continue and develop these activities.

A grant received in the year has been spent and we thank the Gibson Walden Fund for the grant as well as all Society members and others who have supported us during the year.

A total of £3082 was spent on Heritage Assets suitable for acquisition for the Museum.

The General Fund and the Capital Fund show pleasing results. Although the recovery in investments has not always been maintained since the year end, the Directors believe the state of the Company’s affairs to be satisfactory.

Employees and Remuneration

The company has no employees other than the directors, who are unremunerated, and, therefore, there are no employees with remuneration more than £60,000. The company is dependent upon the services of a considerable number of unpaid volunteers who give up their time freely in connection with the Society’s activities.

Investment Powers

These are governed by the Articles of Association which permit the investment of any surplus monies in any investments authorised by law for the investment of trust funds and to the transposition or variation of any existing or future investments held by or on behalf of the Company.

Reserves Policy

It is the policy of the charity to maintain cash in current and short notice accounts that equates to at least five years unrestricted expenditure (at current levels). This provides sufficient funds to cover management, support costs, and a cushion for any unexpected expenditure that might arise. Available funds were maintained at this level throughout the year.

Saffron Walden Museum Society Limited

4

Directors’ Report – continued

Financial Review continued

Risk Management

The trustees have examined the major strategic, business and operational risks which the charity faces and are satisfied that the regular reports they receive enable them to ensure that all risks to the Society are minimised.

Statement of Directors’ Responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

The Board wishes to express its thanks to the Independent Examiner, Amanda Prentice, who has agreed to take on this vital post.

On behalf of the Board

Signed:

Keith L Eden (Chairman)

Date:13[th] November 2025

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Independent Examiner’s Report

to the Directors of Saffron Walden Museum Society Limited

I report on the Accounts of the Saffron Walden Museum Society Limited for the year ended 31 March 2025, which are set out on pages 7 to 11 .

Relative responsibilities of trustees and examiner

The directors of Saffron Walden Museum Society Limited are responsible for the preparation of the accounts.

The directors of Saffron Walden Museum Society Limited consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of the independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

to keep proper accounting records are kept in accordance with section 386 of the Companies Act 2006; and

to prepare accounts which accord with the accounting records and comply with the accounting requirements of Section 396 of the Companies Act 2006 and Principles of the Statement of Recommended Practice, Accounting and Reporting by Charities and in accordance with FRS102

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed A S PRENTICE.....................................................................................................

A S Prentice FCCA Date: 17 November 2025

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Saffron Walden Museum Society Limited: Company Registration Number 06469141

Statement of financial activities for the year ended 31 March 2025

General Fund Capital Total Funds 2024
Fund Total
Funds
£ £ £ £
Incoming resources
Subscriptions 3,511 3,511 3,325
Grants 620 620 4,445
Donations 101,986 101,986 51,015
Dividends - 18,723 18,723 19,325
Interest 1,840 6,099 7,939 5,895
Lecture receipts 316 - 316 528
Depositions - 3,182 3,182 0
Sale of donated books 58 - 58 132
Total incoming resources 5,725 130,610 136,335 84,665
Resources expended
Administration 552 - 552 296
Insurance 313 - 313 267
Lecture expenses 370 - 370 723
Member events 137 - 137 42
Website and sundries 327 - 327 460
Bank charges 60 - 60 61
Investment charges - 6,881 6,881 6,503
Depreciation - 3,615
3,615		 3,715
Consultancy 4,627 - 4,627 -
Museum support - 2,026
2,026		 6,404
Total resources expended 6,386 12,522 18,908 18,471
Net incoming resources (661) 118,088 117,427 66,194
before gains/(losses)
Other Recognised Gains and (Losses)
Realised on investments - 2,106 2,106 (9,897)
Unrealised on investments - 1,197 1,197 53,967
- 3,303 3,303 44,070
Net Movement in Funds (661) 121,391 120,730 110,264
Fund balances brought 53,620 1,675,293 1,728,913 1,618,649
forward
Fund balances carried
forward (Note 7) £52,959 £1,796,684 £1,849,643 £1,728,913

All amounts relate to continuing activities. There were no recognised gains or losses other than those included above.

The notes on pages 9 to 11 form part of these financial statements

Saffron Walden Museum Society Limited: Company Registration Number 06469141

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Balance Sheet as at 31 March 2025

Fixed Assets
Tangible fixed assets – Note 2
Heritage assets – Note 3
Investments – Note 4
Current Assets
Debtors – Note 5
Cash at bank & in hand
Creditors – Note 6
Subscriptions in advance
Net current assets
Total Net Assets
Funds– Note 7
Capital Fund
General Fund
Total Funds		 2025
£
£
416,176
322,988
866,381
1,605,545
13,057
239,326
252,383
(7,885)
(400)
---------------
244,098
£1,849,643
1,796,684
52,959
£1,849,643		 2025
£
£
416,176
322,988
866,381
1,605,545
13,057
239,326
252,383
(7,885)
(400)
---------------
244,098
£1,849,643
1,796,684
52,959
£1,849,643		 2024
£
£
419,791
319,906
763,554
1,503,251
10,801
223,429
234,230
(7,823)
(745)
-------------
-
225,662
1,728,913
1,675,293
53,620
£1,728,913
1,605,545


244,098
252,383
(7,885)
(400)
---------------		 234,230
(7,823)
(745)
-------------
-
£1,849,643
1,796,684
52,959
£1,849,643

In approving these financial statements as directors of the company we confirm:

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board and signed on its behalf by:

Chairman KEITH L EDEN S C SHARPE Treasurer

Date 13 November 2025

The notes on pages 9 to 11 form part of these financial statements.

Saffron Walden Museum Society Limited

Notes to the Accounts for the year ended 31 March 2025

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1. Accounting Policies

a) Basis of preparation -The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011.

b) Freehold property - Depreciation is not provided on freehold property on the basis that the market value of the property is greater than cost and the effect is not material to the result for the year.

c) Fixtures, Fittings and Equipment – Fixtures, fittings and equipment are capitalised and depreciated over their useful economic life. Items of less than £500 are expensed in full in the year of acquisition.

d) Museum collections and displays - The charity regards the museum collection and displays as Heritage Assets. Newly purchased assets are capitalised at cost. Assets acquired in the past that were previously expensed, would be difficult and costly to attribute a cost or value to. The trustees believe that the costs of the valuation process outweigh the potential benefits to the accounts’ users, and therefore no cost value has been assigned to the historic assets. Because of the length of life of these assets, no depreciation is charged on them.

In addition to the financial records showing acquisition cost of the Heritage Assets to the company, the Museum maintains a primary record, the accession register, with fuller records in a catalogue, mostly now on a computer database, as well as files of additional information.

Public access to all collections and associated records is provided in three principal ways, by displays in the Museum, by appointment in the museum for study and research, and by remote access in various forms.

e) Investments - Investments held for long-term to generate income or capital growth are carried at market value as fixed assets. The investment strategy for funds is based on a balanced objective, low-medium risk level.

f) Incoming resources – All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. No amounts are included in the financial statements for services donated by volunteers.

g) Expenditure – All expenditure is accounted for on an accruals basis and allocated to expense headings on a direct cost basis.

h) Fund Accounting – The General Fund has unrestricted funds that are available for use at the discretion of the directors in furtherance of the general objectives of the charity, including the running of a membership society, and have not been designated for other purposes. The Capital Fund comprises donations as well as other assets that have arisen through the long life of the Museum, from the sale of freehold property or that have been by raised by the charity for particular purposes; it is the responsibility of the Directors to use its assets for the purposes of the museum. Investment income, gains and losses are allocated the Capital Fund

Saffron Walden Museum Society Limited

Notes to the Accounts for the year ended 31 March 2025, continued

2. Tangible Fixed Assets

9

The Society owns the freehold of the Museum and of the Schoolroom. The Schoolroom is held at cost and the Museum is held at nil value; this reflects the low historic costs and the value of the lease held by Uttlesford District Council. The Society also holds a 999-year lease on The Store, Shirehill, Saffron Walden, from and including 1 October 2014.

Freehold
land and
buildings
£
Leasehold
land and
buildings
£
Cost of Assets
Balance at start of year
3,671
380,845
Additions
-
-
Balance carried forward
3,671
380,845
Depreciation
Balance at start of year
0
3,620
Charge for the year
-
381
Balance carried forward
0
4,001
Net book value March 2025
3,671 376,844
Net book value March 2024
3,671
377,225
3. Heritage Assets£
Balance at beginning of year
319,906
Additions
3,082
Balance at end of year
322,988
4. Investments
At cost
2025
2024
£
£
Listed investments
641,375
651,615
Cash awaiting investment
121,013
11,751
Totals
762,388
663,366
Value at the beginning of the year
Less: Disposals at opening book value
Add: Acquisitions at cost
Net profit on revaluation at the end of the year
Value at the end of the year		 Freehold
land and
buildings
£
Leasehold
land and
buildings
£		 Fixtures and
fittings
£
Totals
£
90,097 474,613
-
-
90,097 474,613
51,202 54,822
3,234 3,615
54,436
58,437
35,661 416,176
38,895 419,791
Market value
2025
2024
£
£
745,368
751,803
121,013
11,751

866,381
763,554
Market value
2025
2024
£
£
751,803
681,999
(93,387)
(135,377)
85,755
151,214
1,197
53,967
745,368
751,803
3,671
380,845
-
-
3,671
380,845
0
3,620
-
381
0
4,001
3,671 376,844
3,671
377,225
£
319,906
3,082
322,988
At cost
2025
2024
£
£
641,375
651,615
121,013
11,751
762,388
663,366

Saffron Walden Museum Society Limited

Notes to the Accounts for the year ended 31 March 2025 - continued

5. Debtors

2025 2024
£ £

10

Income tax recoverable
Other
Totals
. Creditors
Creditors
Accruals, grants for future expenditure
Totals		 10,623
10,677
2,434
124
13,057
10,801
2025
2024
£
£
1,885
1,823
6,000
6,000
7,885
7,823

6. Creditors

7. Funds

The Capital Fund is for the acquisition, maintenance, and display of any or all the artefacts owned by the Company, for the maintenance of the fabric of the buildings as is the Company’s responsibility, for the development of the Museum, and for any appeals that may be made for future developments that the Company may decide to undertake. The General Fund is the reserves arising from the activities directly involving the members of the Society.

8. Analysis of Net Assets between Funds

Fixed assets
Debtors
Cash at bank and in hand
Creditors
Subscriptions in advance
Net current assets
Net assets		 General
Fund
£
Capital
Fund
£
Total
Funds
£
-
1,605,545
1,605,545
723 12,334
13,057
52,739 186,587
239,326
(103) (7,782) (7,885)
(400)
-
(400)
52,959 191,139
244,098
52,959
1,796,684 1,849,643

9. Directors Remuneration and Expenses

No Director received any remuneration.

A director may claim direct reimbursement of out-of-pocket expenses when acting as agent for the Charity. Expenses totalling £1010 in respect of website fees, the zoom licence, members events, travel to a course and administration were reimbursed to three directors. No other expenses were paid to any director.

10. Related Party Transactions

There were no related party transactions during the year.

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