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2025-03-31-accounts

Charity registration number 1126995 (England and Wales) Company registration number 06700294

VALE AND DOWNLAND MUSEUM (WANTAGE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

VALE AND DOWNLAND MUSEUM (WANTAGE)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees I Cameron
G Rice
J Hannaby
G Parker
J Reynolds
J Smythe
S Seymour
G Dawson
R Batstone
R Talbot
Charity number (England and Wales) 1126995
Company number 06700294
Registered office 19 Church Street
Wantage
Oxfordshire
OX12 8BL
Independent examiner Chapman Worth Limited
2 The Old Estate Yard
High Street
East Hendred
Wantage
Oxfordshire
OX12 8JY

VALE AND DOWNLAND MUSEUM (WANTAGE)

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

VALE AND DOWNLAND MUSEUM (WANTAGE)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

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

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

The Museum has achieved considerable success in meeting its objectives, having recovered from the problems resulting from the pandemic. Future success will be dependent on overcoming long-term financial constraints, but the trustees are hopeful of achieving this.

The trustees would again like to express their appreciation of the continuing and extremely valuable efforts of the staff and volunteers whose contribution to the success of the Museum is invaluable. They would also like to express their thanks to Wantage Town Council and other donors.

Financial review

The result for the financial year ended 31 March 2025 was a surplus of £6,592 on income of £228,213 (2024: deficit of £13,043 on income of £168,083). At 31 March 2020 Lains Barn was reanalysed as an investment property and was revalued to be carried at the trustees' estimate of its market value. At 31 March 2025 the Company had accumulated reserves of £1,793,971 (2024: £1,787,379). There was a restricted fund balance of £50,059 at 31 March 2025.

The net book value of tangible assets at 31 March 2025 including the investment property was £1,681,317 (2024: £1,673,477). The free reserves, the difference between the value of tangible assets and unrestricted funds, has decreased from £109,944 to £62,495 over the year. The Board believes that this free reserve level is adequate to meet the ongoing needs of the charity. However, it notes the long-term increase in costs which it is taking steps to address.

The Company holds the Museum property at 19 Church Street under a long term lease which has an enduring value to the Company. This has a net value, in the books of account, of £571,462. If in remote circumstances the Company needed to vacate the property, there is a risk that the written down value may not be realisable.

Reserves policy

The trustees consider that reserves are required to meet fluctuations in receipts and payments, and also to cover contingencies and risks. The cash reserves of the Museum are continuing to decline as a consequence of increasing costs. However, the trustees consider that there are adequate reserves to enable the Company to meet its objectives for the forthcoming year. The adequacy of the reserves policy is reviewed annually.

Structure, governance and management

The charity is a company limited by guarantee. The members who are the trustees have a liability of £1 on the winding up of the charitable company. Vale and Downland Museum (Wantage) is a registered charity, registered in England, number 1126995. It is governed by its Memorandum and Articles of Association.

VALEAND DOWNLAND MUSEUM (WANTAGE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The tru$lees. who are also the directors foT the purpose of company law. and %tho served during the year and up to the dale of signature of the financial statements were.. I Cameron G Rice J Hannaby G Parker J Reynolds J Smythe S Seymour G Dawson R 8atstone R Talbol RecFuilment and appointment of tnjslees The trustees are appolnted either by nomination from othgr organisations or by cwption by the existing twslees. o￿anisational slwcture The Museum is operated by Vale and Downland Museum (Wantsge) whith is a company limited by guarantee and a ￿gIStered charity. Operations are subject lo th8 company's memorandum and attcles of association. The Company is run by a Board of directors known as trustees ￿0 meet once 8VW two Ynonlhs. They take decisions Dn matters of policy and on major issue8. They are also members of the Cornpany when required, such as fcsr theAnnual General Meeting of the wmpany. The Board annually elects the followng officers.. Chaiman, Vice-chairnian, Trea8urer and Deputy TreasLsrer. None of the trustees induding officors receive any remuneration for their servicos. The Museum is run on a day-to-day basis by a Manager and a Curator. the latter being responslble for the Museum's collection. These are employees and the senior staff, responsible for other staff and for volunteers. The senior staff are advised by the officers when appTopriate. The Museum has a wholly-owned subsidiary Vale and Downland Museum {Retaill Ltd whlch operates Ihe Museum café. The tnjstees are also directors of this compary. The Trustees, rew)rt Was approved by the Board ofTNstees. Cha an Dale..

VALE AND DOWNLAND MUSEUM (WANTAGE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VALEAND DOWNLAND MUSEUM IWANTAGE I report to thè trustees on my èxamination of the finan¢i81 ststsments of Vale And Downland Museum (Wantagel Ilhe ¢hartyl for the year ended 31 March 2025. Responsibilities and basis of r•port As the trustees of the charty land also its directors for the PUryKJses of company kThl. you are respon$ibk for the preparat￿n of the financial statements in accordan￿ with the requirements ol the Companies Act 2006. Having sats$f￿d MY￿11 that the finanual stslermnts of the charty are required lo ￿ audited under Part 16 01 th8 Companiès Act 20C6 and are elvJible for independent examin8lion. I report in respect of my examination of the ¢harty's financial slalernenl8 carried out under section 145 of the Char￿.e$ Act 2011. In carrying oul my examination I hève followed the DITect￿n$ given by the Charity Commission under secb'on 14515llbl of Ihe Charities Act 2011. Ind•p•nd•nt •x•mln•rf8 ststgm•nt I have completed my exarnination. I confirn thal no mattars haw comg lo my att•ntion in ￿nn¢￿10n with the examinaljon giving me cause to bel￿￿ that in any mal8rial re$p8Ct'. accounting records were not kept in respect of the tharity as roquired by seclion 388 01 the Companio$ A 20C6. the financial statemènts do not accord wrth Ihose r•c4Jrds: or the finan¢ial slalements do not cOm￿Y wrth the accounting requirements of section 396 of the Companies Act 20C6 other than any requirement that the financAal sialements give a tn￿ ar￿ lair wew, which 1$ nol a mattgr nsidered as part ol an independenl examination., or the finanaal slalemenls have not been Prepared in ac¢tsrdarK* with the methods and principles of the Sl81omenl of Recommènded Practice for acuunting and repo￿.ng by charities applicable lo charitie$ preparing their financial Statements in accordance with Ihe Financjal Reporting Standard applicable in the UK and RepU￿¢C of Ireland IFRS 1021. I have no ￿n¢S￿nS and have com& across no olhef matters in ¢onn¢ction wrth Ihts examinalion lo which attention should be ¢Jrawn in this reporl in order lo enabk a proper understanding ol Ihe financial slalemenls lo be reached. Anna Chapman FCA Chapman Worth Llmthl 2 The Old Es18le Yard High Slreet Easl Hendred Wanlage Oxfordshire OX128JY Date.. 61.1 :1202

VALE AND DOWNLAND MUSEUM (WANTAGE)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
51,129
57,586
Charitable activities
4
24,726
-
Investments
5
94,772
-
Total income
170,627
57,586
Expenditure on:
Charitable activities
6
210,240
11,381
Total expenditure
210,240
11,381
Net income/(expenditure) and
movement in funds
(39,613)
46,205
Reconciliation of funds:
Fund balances at 1 April 2024
1,783,525
3,854
Fund balances at 31 March
2025
1,743,912
50,059		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
108,715
47,903
5,313
24,726
20,603
-
94,772
94,264
-
228,213
162,770
5,313
221,621
179,667
1,459
221,621
179,667
1,459
6,592
(16,897)
3,854
1,787,379
1,800,422
-
1,793,971
1,783,525
3,854		 Total
2024
£
53,216
20,603
94,264
168,083
181,126
181,126
(13,043)
1,800,422
1,787,379

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

VALE AND DOWNLAND MUSEUM (WANTAGE) BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets Investment propety Investments 11 12 13 581,317 1,100,000 100 573.477 1,100.000 100 1,681.417 1,673,577 Current assots Stocks DebtOTS Cash at bank and in hand 14 15 5.351 30,628 85,650 3,608 23,344 93,254 121,629 120,206 Credltols: amounts falllng due wlthln ong year 16 19,0751 18,4041 Net Current assets 112,554 113.802 Total assets le￿ current Ilabllltles 1,793,971 1,787,379 The funds ofthe chaflty Reslricled income lunds un￿strICted funds 17 18 50,059 1,743,912 3,854 1,783,525 1,793,971 1,787.379 The eompany is enlilled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors a¢kno￿edge their responsibilities for complwng wth the requirements of the Companies Act 20L with respect to 8¢counting recoras ana tne preparatton of flnancl81 ststerNent3. The members have not fequired the company to obtain an audit of its financial statements for the y&ar in question in accordance with section 476. These finanaal statements have been prepared in a¢cordan¢e with the provlsions applicable to companies subje¢t to the small companies regime. The financlal statements were approved by the tfustees on . Ch irnian Company registration number 06700294 (England and Wales}

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Vale And Downland Museum (Wantage) is a private company limited by guarantee incorporated in England and Wales. The registered office is 19 Church Street, Wantage, Oxfordshire, OX12 8BL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Not depreciated
Leasehold improvements 50 years
Fixtures and fittings 10 years
Gallery displays 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
10,979
-
Grants
40,150
57,586
51,129
57,586
Grants
University of Reading
-
4,805
Norfolk County Council
-
4,500
Vale Of White Horse
District Council
-
31,281
Westmill Solar
-
5,000
Truck Festival Trust
-
1,000
Oxford County Council
-
1,000
Wantage Town Council
31,659
10,000
RWK Goodman
5,000
-
Other
3,491
-
40,150
57,586		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
10,979
47,903
5,313
97,736
-
-
108,715
47,903
5,313
4,805
-
-
4,500
-
-
31,281
-
-
5,000
-
-
1,000
-
-
1,000
-
-
41,659
-
-
5,000
-
-
3,491
-
-
97,736
-
-		 Total
2024
£
53,216
-
53,216
-
-
-
-
-
-
-
-
-
-

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Incoming resources from charitable activities
Artists’ gallery hire/commission receivable 318 519
Sale of goods and services 24,408 20,084
24,726 20,603

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 93,714 93,489
Interest receivable 1,058 775
94,772 94,264

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Activities undertaken directly 101,725 81,697
Share of support and governance costs (see note 7)
Support 114,835 95,007
Governance 5,061 4,422
221,621 181,126
Analysis by fund
Unrestricted funds 210,240 179,667
Restricted funds - general 11,381 1,459
221,621 181,126
Support costs allocated to activities
2025 2024
£ £
Administrative and central costs 67,876 54,295
Staff costs 28,427 22,047
Depreciation 18,532 18,665
Governance costs 5,061 4,422
119,896 99,429
Analysed between:
Charitable activities 119,896 99,429

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total 5 5

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Leasehold
land and
buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2024
768,287
60,842
Additions
26,372
-
At 31 March 2025
794,659
60,842
Depreciation and impairment
At 1 April 2024
207,304
48,348
Depreciation charged in the year
15,893
2,639
At 31 March 2025
223,197
50,987
Carrying amount
At 31 March 2025
571,462
9,855
At 31 March 2024
560,983
12,494		 Total
£
829,129
26,372
855,501
255,652
18,532
274,184
581,317
573,477

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Investment property

Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025 1,100,000

During the year ending 31 March 2020 Lains Barn was reanalysed from tangible fixed assets to fixed assets investments. The property was revalued as at 31 March 2020 by the trustees based on its rental yield. A formal valuation undertaken in 2010 valued the property at £750,000. £1.1m reflects its current market value.

13 Fixed asset investments

Cost or valuation
At 1 April 2024 & 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
Other investments comprise:
Notes
Investments in subsidiaries
21
14
Stocks
Raw materials and consumables
15
Debtors
Amounts falling due within one year:
Amounts owed by fellow group undertakings
Other debtors
Prepayments and accrued income		 Other
investments
£
100
100
100
2025
2024
£
£
100
100
2025
2024
£
£
5,351
3,608
2025
2024
£
£
23,724
17,737
5,642
5,607
1,262
-
30,628
23,344		 Other
investments
£
100
100
100
2025
2024
£
£
100
100
2025
2024
£
£
5,351
3,608
2025
2024
£
£
23,724
17,737
5,642
5,607
1,262
-
30,628
23,344
100
100
2024
£
100
2024
£
3,608
2024
£
17,737
5,607
-
23,344

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income		 2025
£
4,256
4,819
9,075		 2024
£
2,223
4,181
6,404

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Previous year: At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
3,854
57,586
(11,381)
50,059
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
-
5,313
(1,459)
3,854

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
1,783,525
170,627
(210,240)
1,743,912
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
1,800,422
162,770
(179,667)
1,783,525

VALE AND DOWNLAND MUSEUM (WANTAGE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
554,945
26,372
Investment properties
1,100,000
-
Investments
100
-
Current assets/(liabilities)
88,867
23,687
1,743,912
50,059
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
573,477
-
Investment properties
1,100,000
-
Investments
100
-
Current assets/(liabilities)
109,948
3,854
1,783,525
3,854		 Total
2025
£
581,317
1,100,000
100
112,554
1,793,971
Total
2024
£
573,477
1,100,000
100
113,802
1,787,379

20 Related party transactions

At 31 March 2025 a balance of £23,724 (2024 £17,737) was due from the subsidiary undertaking, Vale and Downland Museum (Retail) Limited, in respect of income received on the parent company's behalf and rent charged for the use of space in the Museum.

21 Subsidiaries

The company holds more than 20% of the share capital of the following companies:

Details of the charity's subsidiaries at 31 March 2025 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Vale and Downland Museum
United Kingdom		 Running the cafe in the Ordinary 100.00
(Retail) Limited museum