**REGISTERED COMPANY NUMBER: 04667573 (England and Wales) REGISTERED CHARITY NUMBER: 1128326** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **FOR** **BRADING ROMAN VILLA TRUST** Harrison Black Limited East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA **BRADING ROMAN VILLA TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ||**Page**| |---|---| |**Chairman's Report**|1 to 3| |**Report of the Trustees**|4 to 10| |**Independent Examiner's Report**|11 to 12| |**Statement of Financial Activities**|13| |**Balance Sheet**|14 to 15| |**Cash Flow Statement**|16| |**Notes to the Cash Flow Statement**|17| |**Notes to the Financial Statements**|18 to 34| |**Detailed Statement of Financial Activities**|35 to 37| **BRADING ROMAN VILLA TRUST** **CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** We are open to the public five days a week, Tuesday to Saturday. During the year to 31 March 2025, we have held a number of events and projects at Brading Roman Villa, which enabled us to continue to maintain a good visitor experience and school visits alongside sound operational and financial management. Our heating system chose to show its age and so had an unforeseen impact on our end of year financial accounts. The museum has seen a drop in national visitor numbers, as seen across the island, but an increase in local visits and repeat visits to the Forum Café. The museum continues to develop as a community hub, where friends and community groups meet, or come together to attend workshops and talks. These groups include ramblers, cycling groups, art and photographic societies, adult education, family groups and women's groups. We continue to review our operational and revenue-generating options regularly and are introducing new budgeting systems to create a sustainable and profitable business. The café has increased footfall and raised its profile as a community hub, improving year-round trading and increasing margins for a successful business. It has an important part to play in supporting and enhancing the attractiveness of the villa as a destination, with its primary focus on the museum, education, and community. Our retail shop has also been successful over the past year and Paula Blondell continues to source new products made or grown locally. Our guidebook continues to be very popular and is still one of the most frequently purchased items from our shop. On 24 March 2025 we changed our admission price to £14.60. This is a 'Pay once, visit all year' ticket. We added a 10% increase on last year's gift aid. We were asked to submit an Accreditation Return at the beginning of 2025, after a ten-year gap. The Museum Accreditation Scheme is the UK industry standard for museums and galleries. It tells everyone involved with a museum that they're doing the right things to help people to engage with collections and protect them for the future. The Museum Accreditation Scheme does this by making sure museums manage their collections properly, engage with visitors, and are governed appropriately. As part of the return we reviewed and updated our collection & conservation policies, which included the BRV Collections Development Policy, BRV Care and Conservation Policy and the Emergency Plan. The return was submitted in January 2025. We were awarded Full Accreditation in June 2025. We made expressions of interest on two separate Island finds reported via the Portable Antiquity Scheme and reported as Treasure - 1 x Roman-Early Med gold finger ring and 1 x Roman coin hoard of approximately 188 coins (the majority post-date AD348). Conservation management in the grounds have been exacerbated by continuous rabbit damage, especially around and in the hypocaust. We have been in consultation with the Historic England Heritage at Risk officer and the assistant inspector for Scheduled Monuments and have taken the step to be placed on the Heritage at Risk Register. The entry into the register will be the Brading Roman Villa site with a note specifically highlighting the hypocaust. Being on the register allows us to access additional support and resources from Historic England including potential funds and conservation advice. Page 1 **BRADING ROMAN VILLA TRUST** **CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** The next step is to create conservation care plan to fully understand the scope of work required and allow the Board to discuss a variety of options. The CCP will be written with the support and agreement of Historic England. All works will require scheduled monument consent and will require an archaeology watching brief/report as a minimum, depending on the work. Historic England would need a condition assessment prior to the removal of the cover building to see if the walls or hypocaust can be stabilised and to determine the conservation method. This will be a slow process. Consideration will also be made for future proofing against pest damage (rabbits) and prevention where possible. Many of our exterior signs are showing sun and rain damage and have become illegible so we are testing the efficacy of some aluminium signs as part of our ongoing audience development plans. We have also added a couple of nature trails alongside our biosphere projects to entice our visitors out into the landscape. Our education programme goes from strength to strength under the guidance of our education officer, Sarah Girling, and her team of volunteers. Our education programme continues to be praised for its content and the diversity of the Key Stages covered, which attracts many school visits. Sarah has been hugely successful in maintaining and furthering our good community links and relationships with local and national schools and other learning groups. We are one of the most successful heritage education providers on the Isle of Wight, and our plan for the next few years is to expand our offering to include further outside learning activities covering elements of archaeology, living history and environmental sciences. We hope this new, inspiring approach to learning will broaden our offering and encourage young people to spend time in the natural environment. Our Talking Nature project 'Tempus Vectis' was funded £5K from SW Museum Development and will deliver seasonal creative environmental workshops to Brading Primary School. We have also been increasing opportunities for Living History with a focus on the Victorian discovery of the villa in 1880. During the school holidays we offer a range of themed activities. We remain an active participant of the Museums and Schools Programme (funded by Arts Council and DfE) which works collaboratively with other Island museums to expand and broaden educational access to heritage sites. This programme has secured funding for year to support and facilitate workshops and educational resources for museums and education providers. This includes provision for Home Educated families. Temporary exhibitions by local artists continue to be popular and with the persuasion of our new marketing officer many of these artists now run well attended workshops. Polly Stredder is our first marketing officer and her role is to raise the profile of BRV through local ads, social media and PR opportunities. She has built up a calendar of monthly events from talks and workshops to mosaic making and nature trails. She is working closely with Sarah Girling and the trustees to explore more event opportunities. Our team of volunteers continues to strengthen and they provide important support to our staff and our work overall. Volunteer roles include Museum guides, Front of House/Reception, gardening, and education. Some of the volunteers include a number of guides formerly provided by the Friends of Brading Roman Villa. The support of these volunteers is valuable when recruiting new members to the volunteer team. The 2024-2028 Forward Plan was approved unanimously by the Board in January 2024. Our future plans include fundraising events, workshops, talks, exhibitions and more interpretation opportunities and audience engagement in the landscape and the museum itself. Page 2 **BRADING ROMAN VILLA TRUST** ## **CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** The cost-of-living crisis has continued to be a concern for all sections of society and has continued to have an impact on our visitor numbers and the demographics of those coming to the museum. Those on low incomes have found it harder to visit due to rising costs, which has made our work within the community even more important. We hope to continue to work with charitable organisations, such as Daisy Chains, and expand our community links in an effort to enable those who are currently experiencing financial difficulties to access cultural centres, such as our museum and the site more generally. Like many other heritage sites and small businesses, we continue to struggle with the increased cost for energy. Our application to MEND (Museum Estate and Development Fund) to update and replace our heating system and invest in green energy was turned down but we are re-applying in 2025-26. Up to February 2025 the day-to-day governance was managed through the Executive Committee comprising the Chairman, Treasurer and Trustee, Nick Woodifield, who met fortnightly. The Museum & Collections Manager, Jasmine Wroath, attended by invitation. The Board met in person every two months with the option for remote participation as when necessary. The board of trustees went through a year of restructure as a number of trustees retired or resigned. We appointed eight new trustees, with a wide range of skills, after a process of public advertising, interviewing and selection. Colin Boswell, Pat Barber, Tony Holmes, Elizabeth Wilson, Nick Oulton and David Low retired and were thanked for all their help over the years. Philip Collyer resigned as a trustee and took on the role of Company Secretary. Stephen Bailey, Angela Buckley, Kate Collins, Martyn Davies, Jessica Garbett, Nigel Hartley, Sarah-Jane Kitching and Louise Revell joined the board in May 2024. Sadly, Kate Collins had to resign from the board after a few months due to family commitments. Stewart White stepped back from being Chairman in January 2025 as he needed to stay in Australia for family reasons. He remains a trustee. Bella Janson was appointed Chair at a board meeting on 10 February 2025. At the same meeting it was agreed that three sub-committees of trustees should be formed to support and report to the Board: - Finance, Governance & Operations Committee (FGO) to replace the Executive Committee - Fundraising Committee - Audience and Museum Development Committee (AMD) From February 2025 the day-to-day governance has been managed by the FGO Committee with Jasmine Wroath. As the financial year ended, we started succession planning for a new treasurer since John Haigh continued to suffer from ill health. Other news for the end of the financial year is that the Friends of Brading Roman Villa (FBRV) voted at their AGM to shut down their charity. They cannot find any new trustees to take over from the present trustees who want to retire. We would like to thank the Friends for all their support over the years. I place on record my thanks to our Museum & Collections Manager, Jasmine Wroath, and all our staff, volunteers, and the Trustees for their hard work over the last year maintaining and caring for our important site as a sustainable business, which helps us to serve our community and enable visitors to enjoy and experience Brading Roman Villa and our Island heritage. Chair Page 3 **BRADING ROMAN VILLA TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the Brading Roman Villa Trust (BRVT), previously known as the Oglander Roman Trust (ORT), are the preservation, protection, and management of the site of historical, archaeological, educational, scientific, and architectural interest of Brading Roman Villa on the Isle of Wight. In carrying out the charity's aims, the BRVT has paid due regard to the guidance of the Charity Commission on public benefit and ensures that its objects are carried out in accordance with the guidance. The mission of the BRVT is to conserve and develop the museum & collection, scheduled monument, and the land for public benefit and to enable it to be used as an educational and research facility for the community. The BRVT aims to operate the visitor and exhibition centre at a sufficient surplus to provide for the administration of the Trust and the development and improvement of exhibitions. The values and guiding principles of the BRVT are those of accessibility, sustainability, and community use as it seeks to balance the demands of a tourist attraction with the needs of a notable historic site. The vision of the BRVT is to use its entire site in a holistic way to provide a setting worthy of the archaeological and historical value of the Villa, with modern facilities for the benefit of the visiting public and local communities. The Trust aims to create a sustainable environmental, heritage, tourist, and cultural hub. To this end, the BRVT continues to ensure that the ethos of open accessibility is fostered throughout events, programmes, projects, and the day to day running of the facility. Pricing for all activities is set to take account of local market conditions and to include concessions, discounts, and free carer tickets. Projects are undertaken in a spirit of community involvement and active partnership working wherever possible to include local community groups, schools, and neighbourhoods. Management of volunteers continues to be an integral part of the site's daily business. This includes front of house, stewarding, guiding in the museum, education support and limited gardening/grounds maintenance. The Villa's education programme continued to provide a wide range of activities to encompass its lifelong learning ethos. As well as the curriculum embedded material for school's delivery, Learning Outside the Classroom activities include craft and living history activities throughout school holidays, our continued partnership with the Arts Council funded Museums and Schools, which helps create new workshops in a number of different heritage sites across the Island, working with schools to promote the use of our outside grounds to study the natural environment and our well-established work experience programmes. Page 4 **BRADING ROMAN VILLA TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **ACHIEVEMENTS AND PERFORMANCE** Our best achievements have been the work done through education and community development. Working alongside students, community groups and other heritage organisations has allowed us to increase our presence within the local community and begin to develop networks and relationships which we can use to create new and exciting initiatives and projects for the future. Throughout 2024/25 we continued as a partner in the Museums and Schools Project. The project aims to enhance the links between local schools and museums and has been successfully working collaboratively since 2018 to develop a range of workshop sessions, activities and resources to support heritage education in museums and schools across the Island. This programme is supported by Arts Council England and funded through the Department of Education. This year it has helped us to invest in new educational resources to develop and pilot early years activities and workshops and increase our offering for home educators. This work is planned to continue into the future. The development of new events and activities alongside good marketing has raised what we can offer visitors and cemented a growing community of repeat visitors. The 'Make a Coaster' activity is proving to be very popular with well over 1000 made in the year. It is enjoyed by all ages and is inclusive. Comments suggest it is a cost-effective activity for families and those not going into the museum to view the mosaics and other parts of the villa that remain. Activities are now scheduled throughout the year and include candle making, apple weaving and Easter basket making. A busy programme of talks also continues to be developed. Seasonal trails were laid around the villa and have been well received. We celebrated the national Festival of Archaeology in July. This is one of a few annual events we have adopted, including the Isle of Wight Biosphere and the autumn Apple Day. We are pursuing a closer relationship with Brading Town and showcased many of the town's scarecrows after the autumn festival. During 2024/25, we continued to be successful in recruiting new volunteers to help across all sections of the site, including education, Front of House, Museum guides and Living History. We hope that this growth and support from members of the community will continue and expand in the coming years. In February 2025 we developed a new living history session on the Victorian Discovery of the Villa. We have introduced new food and craft products in the museum shop, which are locally produced. These unique items help us to support local business and reduce our carbon footprint with minimal delivery distances or costs as well as being very popular with visitors, in particular those that have visited from the mainland. The café continues to monitor sales and KPIs, which provides us the information to gauge progress on any changes and insights that help improve the service and help prevent waste through the kitchen and over stocking. Both the café and retail have seen an increase of revenue generation from this, which we hope to continue and grow over the next few years. Page 5 **BRADING ROMAN VILLA TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **FINANCIAL REVIEW** During the year, the total income received was £396,495 (2023/24: £381,625). Total expenditure was £492,635 (2023/24: £435,947), resulting in a total net expenditure of £96,140 (2023/24: net expenditure £54,322). The deficit attributable to unrestricted funds was £46,111 (2023/24: £2,724) which consolidated the Charity's unrestricted reserves position from £241,296 at the start of the year to £195,185 at the end Of this, £75,000 is represented by general fund reserves, representing three months' running costs to cover unforeseen costs and commitments in line with the reserves policy. The Trustees review financial performance at each Board Meeting and also task the Finance, Governance and Oversight Committee with further oversight. The deficit was expected bearing in mind planned repair costs and related fees and the variable nature of visitor income. The Trustees regularly review the operating costs and financial performance of the Charity to ensure that finances are managed prudently. ## **RESERVES** Restricted funds are managed to ensure that they are spent in line with donor requirements and do not go into a negative position. The Charity regularly reviews its reserves policy and aims to set aside at least three months running costs to cover unforeseen costs and commitments in the event of a sudden reduction in revenue or cessation of activities. These are accounted for as general fund (unrestricted) reserves. We are very grateful to all our funders without whom important work for the Villa would simply not be possible. The Trust is reliant on income revenue streams from visitor numbers to the museum and from retail sales generated through the shop and coffee shop. Revenue income can be supplemented by specific grant application made for discrete essential projects. Page 6 **BRADING ROMAN VILLA TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **HERITAGE ASSETS** The BRVT preserves and protects the remains of a maritime Roman villa complex including interior walls and in situ mosaic floors. Associated excavated artefacts are either displayed in appropriately controlled environments within the museum or kept in the Local Authority owned secure collection store at Cothey Bottom. Over 99% of the collection has been excavated from Trust owned land and is used for display, research and education. The collections are recorded on Modes database and through photographic archive material. The BRVT's obligations as owners of an accredited museum include conservation, emergency planning, regular documentation and collection auditing, cataloguing and to provide access to the collection and assets. During the relevant year, the Trust has made no new acquisitions for the collection. There have been no disposals. The BRVT's main collection has not been capitalised because no reliable cost information is available and valuation processes lack sufficient reliability. Only items purchased through the Portable Antiquities Scheme (Treasure Act 1996) have been capitalised as they have a value independently set by the Treasure Valuation Committee. This is as recommended by SORP. These items are not currently depreciated as they are conserved but are reviewed for impairment. The asset of mosaic floor pavements - both in situ and with support bases - have not been capitalised because no reliable cost information is available. Any financially based valuation would be misleading as to the value and significance of the material culture involved. Furthermore, the costs incurred, if valuation could be obtained, would be disproportionate in terms of benefits derived either by the museum or by users of the financial statements. The Trustees believe that, should the mosaic pavements and Roman infrastructure be capitalised fully, a disproportionately large amount would be introduced into the financial statements and would give a misleading impression of asset wealth and thus act as a disincentive to potential donors. The Trust aims to maintain the mosaic pavements in a steady state of repair. The trust has a clear duty to care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long-term preservation. Any cost of associated repair and conservation is reported in the year it is incurred. Page 7 **BRADING ROMAN VILLA TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The BRVT is a Company Limited By Guarantee Not Having A Share Capital and governed by its Articles of Association for a Charitable Company, as defined by the Companies Act 2006 incorporated in 2003. The directors of BRVT are also charity trustees as defined by section 177 of the Charities Act 2011. The BRVT (formerly the Oglander Roman Trust) Charity Number 1128326 is the successor to the unincorporated charity also named Oglander Roman Trust, which was established by Trust Deed in 1994 and registered with the Charity Commission for England and Wales Charity Number 1044506. The latter is dormant, although it holds funds for and on behalf of the BRVT. Its trustees are trustees or former trustees of the BRVT. In 2019-2020, the trustees agreed that the then current constituent documents would be reviewed against current Charity Commission guidelines, best practice, and relevant experience of operation over a number of years. New Articles of Association were adopted at the AGM in November 2020 along with the name change from Oglander Roman Trust to Brading Roman Villa Trust. ## **Recruitment and appointment of new trustees** The directors (trustees) are appointed by the Board of the Company (the Board) or at an Annual General Meeting of the company and serve for three years after which they may put themselves forward for further re-appointment for a further three years. After that period, a director may be reappointed, if agreed at the relevant general meeting by a Special Resolution. The Articles of Association provide for a minimum of three directors and their number is normally limited to twelve. Decisions of the Board are taken by a majority of directors present and voting at any duly constituted meeting. At general meetings of the company, special resolutions, such as those for extension of a trustee's term, changes to the Articles of Association or liquidation of the company, require a 75% majority vote. The Board regularly reviews the skill requirement and range of the Board and will identify and appoint any new directors. In 2020 and 2024, recruitment of new directors has been a public process. A new director would ordinarily meet with the Chair of the Board and Museum Manager as well as existing directors. The new director will receive a copy of the previous year's report and accounts, information on the background and history of the Villa and a copy of the Charity Commission leaflet 'The Essential Trustee: What you need to know' and other information relevant as a director of the company and as a charity trustee. The new director is required to sign the Charity Commission Declaration of Eligibility for newly appointed trustees and undertake regular courses appropriate for trustees of a heritage site. All directors are required to declare potential conflict of interest in relation to any agenda item at any meeting. The Executive Committee, comprising the Chairman, Treasurer and Nick Woodifield, regularly reviewed the risks that the charity faces, and reported to the Board at the regular bi-monthly meetings up to February 2025. After the election of the new Chair and the formation of the sub committees (FGO, AMD & Fundraising) in February 2025 the Executive Committee was replaced by the FGO committee with additional trustees Martyn Davies, Michael Edmonds and Jessica Garbett joining. Robust, modern financial practices with proper back up procedures have been put in place. The Trusts financial performance and KPIs are critically reviewed by both FGO and the Board against agreed budget and prior year trends. Discrete projects are largely funded through a diversified grant application process. Risks relating to staff and employment are covered by updates of proper procedures, insurance, and training on the ethos of the Trust and delivery of its services. Page 8 **BRADING ROMAN VILLA TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Patron** HRH The Duke of Edinburgh KG KT GCVO **Registered Company number** 04667573 (England and Wales) **Registered Charity number** 1128326 ## **Registered office** Brading Roman Villa Morton Old Road Brading Isle of Wight PO36 0EN ## **Chairman of the Trustees** Ms S A Janson (appointed 10.2.25) Mr S D White (resigned as chair 10.2.25) **Vice Chairman of the Trustees** Prof. M Fulford CBE,BA,PhD, FBA, FSA **Treasurer** Mr M R Edmonds (appointed 2.6.25) Mr J S Haigh (resigned 2.6.25) **Company Secretary and Trustee** Mrs J Garbett FCCA (appointed 7.7.2025) Mr P B Collier (resigned 7.7.2025) **Trustees** Mr P B Collyer BA (retired 20.5.24) Mr A P Holmes BA (retired 20.5.24) Mr N R R Oulton MA (Oxon) (retired 20.5.24) The Rev. Canon D M Low MA (retired 18.11.24) Ms P M Barber MA (retired 18.11.24) Mr C P Boswell (retired 20.5.24) Mr S D White BA (Hons) History, LLB (Syd), LLM (Cantab) Mr N Woodifield Mr S R Bailley (appointed 20.5.24) Dr A Buckley (appointed 20.5.24) Mrs K E Collins DL (appointed 20.5.24) (resigned 30.1.25) Mr M M Davies (appointed 20.5.24) Mr N A Hartley MBE, FRSA, MA BMus (Hons) (appointed 20.5.24) Dr S J Kitching MA (Cantab) MB BS (Lon) MITG (appointed 20.5.24) Dr L Revell (appointed 20.5.24) Mr M R Edmonds (appointed 2.6.25) Mrs J Garbett FCCA (appointed 20.5.24) Mr J S Haigh (resigned 9.9.25) Page 9 **BRADING ROMAN VILLA TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Independent Examiner** A S Garner BA (Hons) FCA Harrison Black Limited East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA **Solicitors** Roach Pittis 60-66 Lugley Street Newport Isle of Wight PO30 5EU **Bankers** HSBC 101 St James Street Newport Isle of Wight PO30 1XH Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................. Ms S A Janson - Trustee Page 10 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRADING ROMAN VILLA TRUST** ## **Independent examiner's report to the trustees of Brading Roman Villa Trust ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Page 11 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRADING ROMAN VILLA TRUST** ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. A S Garner BA (Hons) FCA Harrison Black Limited East Quay Kite Hill Wootton Bridge Isle of Wight PO33 4LA Date: ............................................. Page 12 **BRADING ROMAN VILLA TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
6
Museum
Other trading activities
4
Investment income
5
**Total**
**EXPENDITURE ON**
Raising funds
7
**Charitable activities**
8
Museum
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**68,494**
**149,195**
**160,891**
**8,991 **
**387,571 **
**206,565**
**227,117**
**433,682 **
**(46,111)**
**241,296**
**195,185**|
Restricted
funds
£
**6,681**
**-**
**2,243**
**-**
**8,924**
**24,044**
**34,909**
**58,953**
**(50,029)**
**1,556,869**
**1,506,840**|**2025**

**Total**
**funds**
**£**
**75,175**
**149,195**
**163,134**
**8,991 **
**396,495**
**230,609**
**262,026**
**492,635**
**(96,140)**
**1,798,165**
**1,702,025**|2024
Total
funds
£
55,173
160,997
158,846
6,609
381,625
213,409
222,538
435,947
(54,322)
1,852,487
1,798,165| |---|---|---|---|---| The notes form part of these financial statements Page 13 ## **BRADING ROMAN VILLA TRUST** ## **BALANCE SHEET 31 MARCH 2025** |Notes
**FIXED ASSETS**
Tangible assets
14
Heritage assets
15
Investments
16
**CURRENT ASSETS**
Stocks
17
Debtors
18
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
19
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one
year
20
**NET ASSETS**
**FUNDS**
22
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
**152,346**
**4,860**
**1**
**157,207**
**8,239**
**20,347**
**61,870**
**90,456**
**(45,445)**
**45,011**
**202,218**
**(7,033)**
**195,185**|
Restricted
funds
£
**1,498,764**
**-**
**-**
**1,498,764**
**-**
**-**
**8,076**
**8,076**
**-**
**8,076**
**1,506,840**
**-**
**1,506,840**|**2025**

**Total**
**funds**
**£**
**1,651,110**
**4,860**
**1**
**1,655,971**
**8,239**
**20,347**
**69,946**
**98,532**
**(45,445)**
**53,087**
**1,709,058**
**(7,033)**
**1,702,025**
**195,185**
**1,506,840**
**1,702,025**|2024
Total
funds
£
1,709,791
4,860
1
1,714,652
8,980
20,823
105,776
135,579
(34,703)
100,876
1,815,528
(17,363)
1,798,165
241,296
1,556,869
1,798,165| |---|---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 14 ## **BRADING ROMAN VILLA TRUST** ## **BALANCE SHEET - continued 31 MARCH 2025** The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Ms S A Janson - Trustee The notes form part of these financial statements Page 15 **BRADING ROMAN VILLA TRUST** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|**2025**
**£**
**(23,804)**
**(23,804)**
**(1,952)**
**(1,952)**
**(10,074)**
**(10,074)**
**(35,830)**
**105,776**
**69,946**|2024
£
3,371
3,371
(3,501)
(3,501)
(12,208)
(12,208)
(12,338)
118,114
105,776| |---|---|---| The notes form part of these financial statements Page 16 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025** |**1.**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**OPERATING**| |---|---|---|---|---| ||**ACTIVITIES**|||| ||||**2025**|2024| ||||**£**|£| ||**Net expenditure for the reporting period (as per the Statement**|||| ||**of Financial Activities)**||**(96,140)**|
(54,322)| ||**Adjustments for:**|||| ||Depreciation charges||**60,632**|61,924| ||Decrease/(increase) in stocks||**741**|(841)| ||Decrease in debtors||**476**|1,164| ||Increase/(decrease) in creditors||**10,487**|(4,554)| ||**Net cash (used in)/provided by operations**||**(23,804)**|
3,371| |**2.**|**ANALYSIS OF CHANGES IN NET FUNDS**|||| |||At 1.4.24|Cash flow|**At 31.3.25**| |||£|£|**£**| ||**Net cash**|||| ||Cash at bank and in hand|**105,776**|**(35,830) **|
**69,946**| |||**105,776**|**(35,830) **|
**69,946**| ||**Debt**|||| ||Debts falling due within 1 year|**(10,077)**|**(255)**|
**(10,332)**| ||Debts falling due after 1 year|**(17,363)**|**10,330**|**(7,033) **| |||**(27,440)**|**10,075**|**(17,365) **| ||**Total**|**78,336**|**(25,755) **|
**52,581**| The notes form part of these financial statements Page 17 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1. GENERAL INFORMATION** The Brading Roman Villa Trust is a private company limited by guarantee and incorporated in England. The financial statement are presented in Sterling, which is the functional currency of the Charitable company. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. During the year the charity has net expenses of £96,140 and as at the balance sheet date the charity's current assets exceeded its current liabilities by £53,087. The trustees believe that these funds are sufficient to allow them to continue normal trading. On this basis, the trustees consider it appropriate to prepare the accounts on a going concern basis. ## **Income** All income is recognised in the statement of financial activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |Cover building|- 2% on cost| |---|---| |Fixtures and fittings|- 15% on reducing balance| |Computer equipment|- 15% on reducing balance| The land, road and car park are not depreciated. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. continued... Page 18 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **2. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** No tangible fixed asset are capitalised which are not expected to serve the Charity for more than one year. The value of any tangible fixed asset is assessed at its cost price. ## **Heritage assets** The Trust's main collection has not been capitalised because no reliable cost information is available and valuation processes lack sufficient reliability. Only items purchased through the Portable Antiquities Scheme (Treasure Act 1996) have been capitalised as they have a value independently set by the Treasure Valuation Committee. This is as recommended by SORP FRS102. These items are not currently depreciated as they are conserved but are reviewed for impairment on an annual basis. The asset of mosaic floor pavements - both in situ and with support bases - have not been capitalised because no reliable cost information is available. Any financially based valuation would be misleading to the value and significance of the material culture involved. Furthermore the costs incurred, if valuation could be obtained, would be disproportionate in terms of benefits derived either by the museum or to users of the financial statements. The Trustees believe that, should the mosaic pavements and Roman infrastructure be capitalised fully, a disproportionately large amount introduced into the financial statements could give a misleading impression of asset wealth and act a disincentive to potential donors. The Trust aims to maintain the mosaic pavements in a steady state of repair. The trust has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long term care and preservation. Any costs of associated repair and conservation is reported in the year it is incurred in the Statement of Financial Activities. ## **Investments** Investments in subsidiaries are measured at cost less accumulated impairment. ## **Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. ## **Taxation** No provision to taxation has been provided in these financial statements as the charitable company's activities are within the exemptions granted. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. continued... Page 19 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **2. ACCOUNTING POLICIES - continued** ## **Fund accounting** Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Donated services** Donated services or facilities are included in income when the benefit to the charity is reasonably quantifiable and measurable. They are valued by the trustee at the amount the charity would have been willing to pay for the services or facilities on the open market. ## **Irrecoverable VAT** Irrecoverable VAT is charged to the statement of financial activities in the year in which it is incurred. ## **Employment Benefits** Short term benefits, including holiday pay, are recognised in the period in which the service is received. ## **3. DONATIONS AND LEGACIES** |Donations
Gift aid
Grants
Donated services and facilities|**2025**
**£**
**708**
**23,708**
**6,681**
**44,078**
**75,175**|2024
£
614
17,545
3,463
33,551| |---|---|---| |||55,173| The charity receives support from volunteers. The value of this service to the charity is estimated at £44,078 (2024 - £33,551). The estimated value of this service is included within incoming resources and an equivalent charge in archaeological expenses and event organisation. continued... Page 20 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **3. DONATIONS AND LEGACIES - continued** Grants received, included in the above, are as follows: |Friends of Brading Roman Villa
IW Council Museum & Schools Programme
South East Museum Development - The Wild Escape Scheme
Its your museum - Creative Island
Museum Development South West
**4.**
**OTHER TRADING ACTIVITIES**
Retail sales
Catering sales
Functions
Educational services
**5.**
**INVESTMENT INCOME**
Income from land
Bank interest|**2025**
**£**
**445**
**1,239**
**-**
**1,997**
**3,000**
**6,681 **
**2025**
**£**
**40,680**
**104,859**
**2,769**
**14,826**
**163,134 **
**2025**
**£**
**4,828**
**4,163**
**8,991 **|2024
£
1,378
-
2,085
-
-
3,463
2024
£
42,676
99,820
4,209
12,141
158,846
2024
£
2,752
3,857
6,609| |---|---|---| |||| continued... Page 21 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** |**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Entrance fees
Museum
**7.**
**RAISING FUNDS**
**Raising donations and legacies**
Staff costs
Museum expenses
Event organisation
**Other trading activities**
Purchases
Staff costs
Commission
Bad debts
Support costs
Aggregate amounts|**2025**
**£**
**149,195**
**2025**
**£**
**18,646**
**4,464**
**13,223**
**36,333**
**2025**
**£**
**35,820**
**93,645**
**216**
**-**
**64,595**
**194,276**
**230,609**|2024
£
160,997
2024
£
17,061
2,285
12,829
32,175
2024
£
35,380
81,642
429
49
63,734
181,234
213,409| |---|---|---| continued... Page 22 **BRADING ROMAN VILLA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **8. CHARITABLE ACTIVITIES COSTS** |Museum
**9.**
**SUPPORT COSTS**
Other trading activities
Museum
Activity
Finance
Admin
Premises
Governance costs|Finance
Admin
£
£
**2,863**
**13,876**
**5,365**
**25,995**
**8,228**
**39,871 **
Basis of allocation
Floor Area
Floor Area
Floor Area
Floor Area|Support
Direct
costs (see
Costs
note 9)
£
£
**140,999**
**121,027**
Governance
Premises
costs
£
£
**40,325**
**7,531**
**75,556**
**14,111**
**115,881 **
**21,642**|Totals
£
**262,026**| |---|---|---|---| ||||Totals
£
**64,595**
**121,027**| ||||**185,622**| ||||| ## **10. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Independent examiners fees
Other assurance services
Accountancy and bookkeeping
Depreciation - owned assets
Other operating leases|**2025**
**£**
**2,130**
**900**
**18,612**
**60,633**
**2,125**|2024
£
2,050
770
15,299
61,922
1,947| |---|---|---| continued... Page 23 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **11. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **Trustees' expenses** During the year trustees expenses were paid of £nil (2024 - £nil). ## **12. STAFF COSTS** The average monthly number of employees during the year was as follows: |Part time
Full time|**2025**
**13**
**1**
**14**|2024
12
1| |---|---|---| |||13| No employees received emoluments in excess of £60,000. ## **Key management personnel remuneration and benefits** The total amount of remuneration and benefits received by key management in the year was £38,671 (2024 - £35,700). ## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Museum
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Museum
**Total**|Unrestricted
funds
£
51,711
160,997
156,950
6,609
376,267
192,689
187,203
379,892|
Restricted
funds
£
3,462
-
1,896
-
5,358
20,720
35,335
56,055|
Total
funds
£
55,173
160,997
158,846
6,609
381,625
213,409
222,538
435,947| |---|---|---|---| continued... Page 24 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** |**13.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|
Total|| |||||funds|funds|funds|| |||||£|£|£|| ||**NET INCOME/(EXPENDITURE)**|||(3,625)|(50,697)|(54,322)|| ||**Transfers between funds**|||901|(901)||-| ||**Net movement in funds**|||(2,724)|(51,598)|(54,322)|| ||**RECONCILIATION OF FUNDS**||||||| ||Total funds brought forward|||244,020|1,608,467|1,852,487|| ||**TOTAL FUNDS CARRIED**||||||| ||**FORWARD**|||241,296|1,556,869|1,798,165|| |**14.**|**TANGIBLE FIXED ASSETS**||||||| |||Land,||Fixtures|||| |||road and|
Cover|and|Computer||| |||car parks|
building|fittings|equipment|Totals|| |||£|£|£|£|£|| ||**COST**||||||| ||At 1 April 2024|**107,846**|**2,568,613**|**431,627**|**23,337**|**3,131,423**|| ||Additions|**-**|**-**|**1,952 **|**-**|**1,952 **|| ||At 31 March 2025|**107,846**|**2,568,613**|**433,579**|**23,337**|**3,133,375**|| ||**DEPRECIATION**||||||| ||At 1 April 2024|**-**|**1,026,454**|**379,563**|**15,615**|**1,421,632**|| ||Charge for year|**-**|**51,372 **|**8,103**|**1,158**|**60,633**|| ||At 31 March 2025|**-**|**1,077,826**|**387,666**|**16,773**|**1,482,265**|| ||**NET BOOK VALUE**||||||| ||At 31 March 2025|**107,846**|**1,490,787**|**45,913**|**6,564 **|**1,651,110**|| ||At 31 March 2024|107,846|1,542,159|52,064|7,722|1,709,791|| continued... Page 25 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **15. HERITAGE ASSETS** |**MARKET VALUE**
At 1 April 2024 and 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|Total
£
**4,860**| |---|---| ||**4,860**| ||4,860| The trust owns and administers the site of Brading Roman Villa comprising the ruins of a Roman villa site and its excavated artefacts and objects. In the last five years there have been acquisitions of a late 2nd Century AD zoomorphic silver brooch in the form of a bird found in Shalfleet, a collection of 449 copper alloy coins and accompanying pot sherds, found in Freshwater, Roman coins from the hoards found in Calbourne and Shalfleet, a medieval pendant made from a roman gold solidus coin dating to the 3rd Century AD and in the last year the Trust has acquired a 8 Bronze Age/Iron Age Sompting type socketed axeheads and fragments of socketed axeheads with casting debris, (49 items altogether) There have been no disposals in the same period. The Trust has an Acquisition and Disposals policy - a core policy within the Accreditation framework and has both a Conservation audit and plan dealing with the preservation of the assets. Management of the heritage assets is dealt with in the Collections sections of the Business and Forward plans. Access to the offsite stored assets is by appointment. Other heritage assets can be viewed between 10.00am and 4.00pm Tuesday through Saturday. ## **16. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Shares in| ||group| ||undertakings| ||£| |**MARKET VALUE**|| |At 1 April 2024 and 31 March 2025|**1**| |**NET BOOK VALUE**|| |At 31 March 2025|**1**| |At 31 March 2024|1| There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: continued... Page 26 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **16. FIXED ASSET INVESTMENTS - continued** ## **Brading Roman Villa (Trading) Ltd** |Registered office:
Nature of business: Dormant
%
Class of share:
holding
Ordinary
**100**
Aggregate capital and reserves
The accounts of the dormant subsidiary company are not consolidated.
**17.**
**STOCKS**
Shop, catering, stationery and fuel
**18.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
VAT
Prepayments|**2025**
**£**
**1**
**2025**
**£**
**8,239**
**2025**
**£**
**1,843**
**1,296**
**17,208**
**20,347**|2024
£
1
2024
£
8,980
2024
£
1,615
2,576
16,632
20,823| |---|---|---| continued... Page 27 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** |**19.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2025**
**£**
Bank loans and overdrafts (see note 21)
**10,332**
Trade creditors
**15,034**
Social security and other taxes
**2,164**
Other creditors
**1,057**
Accruals and deferred income
**16,858**
**45,445**
**20.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2025**
**£**
Bank loans (see note 21)
**7,033**
**21.**
**LOANS**
An analysis of the maturity of loans is given below:
**2025**
**£**
Amounts falling due within one year on demand:
Bank loans
**10,332 **
Amounts falling between one and two years:
Bank loans
**7,033**|2024
£
10,077
2,412
2,064
1,810
18,340
34,703
2024
£
17,363
2024
£
10,077
17,363| |---|---| continued... Page 28 **BRADING ROMAN VILLA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Munns Portrait Collection - Designated
Fund
**Restricted funds**
Herapath Shenton Trust
Friends of Brading Roman Villa
Arts Council England
Cover Building
Royal Pavilion & Museum
Erica Manley
Museums & Schools Early Years
Project
Museum Development South West
**TOTAL FUNDS**|At 1.4.24
£
**240,425**
**871 **
**241,296**
**4,979**
**2,713**
**5,890**
**1,542,159**
**350**
**778**
**-**
**-**
**1,556,869**
**1,798,165**|Net
movement

in funds
£
**(46,148)**
**37**
**(46,111)**
**-**
**(405)**
**(883)**
**(51,372)**
**-**
**(116)**
**1,120**
**1,627**
**(50,029)**
**(96,140) **|
At

31.3.25
£
**194,277**
**908**
**195,185**
**4,979**
**2,308**
**5,007**
**1,490,787**
**350**
**662**
**1,120**
**1,627**
**1,506,840**
**1,702,025**| |---|---|---|---| continued... Page 29 **BRADING ROMAN VILLA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Munns Portrait Collection - Designated
Fund
**Restricted funds**
Friends of Brading Roman Villa
Arts Council England
Cover Building
Erica Manley
Museums & Schools Early Years
Project
Its your museum - Creative Island
Museum Development South West
**TOTAL FUNDS**|Incoming
resources
£
**387,534**
**37**
**387,571**
**445**
**-**
**-**
**-**
**3,482**
**1,997**
**3,000**
**8,924**
**396,495**|Resources
Movement
expended
in funds
£
£
**(433,682)**
**(46,148)**
**-**
**37**
**(433,682)**
**(46,111)**
**(850)**
**(405)**
**(883)**
**(883)**
**(51,372)**
**(51,372)**
**(116)**
**(116)**
**(2,362)**
**1,120**
**(1,997)**
**-**
**(1,373) **
**1,627**
**(58,953)**
**(50,029)**
**(492,635) **
**(96,140) **| |---|---|---| continued... Page 30 **BRADING ROMAN VILLA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |Net
movement
At 1.4.23
in funds
£
£
**Unrestricted funds**
General fund
243,149
(3,625)
Munns Portrait Collection - Designated
Fund
871
-
244,020
(3,625)
**Restricted funds**
Herapath Shenton Trust
4,979
-
Friends of Brading Roman Villa
2,423
898
Arts Council England
7,184
(1,294)
Cover Building
1,593,531
(51,372)
Royal Pavilion & Museum
350
-
Erica Manley
-
759
Museums & Schools Early Years
Project
-
312
1,608,467
(50,697)
**TOTAL FUNDS**
1,852,487
(54,322)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
376,267
**Restricted funds**
Friends of Brading Roman Villa
1,377
Arts Council England
-
Cover Building
-
South East Museum Development
2,085
Erica Manley
896
Museums & Schools Early Years
Project
1,000
5,358
**TOTAL FUNDS**
381,625|
|Transfers
between
funds
£
901
-
901
-
(608)
-
-
-
19
(312)
(901)
-

Resources
expended
£
(379,892)
(479)
(1,294)
(51,372)
(2,085)
(137)
(688)
(56,055)
(435,947)|
At
31.3.24
£
240,425
871
241,296
4,979
2,713
5,890
1,542,159
350
778
-
1,556,869
1,798,165

Movement

in funds
£
(3,625)
898
(1,294)
(51,372)
-
759
312
(50,697)
(54,322)| |---|---|---|---| ||||| ||||| ||||| continued... Page 31 **BRADING ROMAN VILLA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
Munns Portrait Collection - Designated
Fund
**Restricted funds**
Herapath Shenton Trust
Friends of Brading Roman Villa
Arts Council England
Cover Building
Royal Pavilion & Museum
Erica Manley
Museums & Schools Early Years
Project
Museum Development South West
**TOTAL FUNDS**|At 1.4.23
£
243,149
871
244,020
4,979
2,423
7,184
1,593,531
350
-
-
-
1,608,467
1,852,487|Net
movement

in funds
£
(49,773)
37
(49,736)
-
493
(2,177)
(102,744)
-
643
1,432
1,627
(100,726)
(150,462)|Transfers

between

funds
£
901
-
901
-
(608)
-
-
-
19
(312)
-
(901)
-|
At
31.3.25
£
194,277
908
195,185
4,979
2,308
5,007
1,490,787
350
662
1,120
1,627
1,506,840
1,702,025| |---|---|---|---|---| continued... Page 32 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Munns Portrait Collection - Designated
Fund
**Restricted funds**
Friends of Brading Roman Villa
Arts Council England
Cover Building
South East Museum Development
Erica Manley
Museums & Schools Early Years
Project
Its your museum - Creative Island
Museum Development South West
**TOTAL FUNDS**|Incoming
resources
£
763,801
37
763,838
1,822
-
-
2,085
896
4,482
1,997
3,000
14,282
778,120|Resources
Movement
expended
in funds
£
£
(813,574)
(49,773)
-
37
(813,574)
(49,736)
(1,329)
493
(2,177)
(2,177)
(102,744)
(102,744)
(2,085)
-
(253)
643
(3,050)
1,432
(1,997)
-
(1,373)
1,627
(115,008)
(100,726)
(928,582)
(150,462)| |---|---|---| ## **Designated Funds** Munns Portrait Restoration donations have been collected specifically for this restoration. ## **Restricted Funds** Herapath Shenton Trust - The opening restricted fund consists of £4,979 unspent funds towards the restoration of the air source heat pump. This fund remains unspent at the balance sheet date. Friends of Brading Roman Villa - The opening restricted fund the net book value of fixed assets being written down in line with depreciation over the assets useful lives. During the year further funds were received in relation to the purchase of a cloakroom trolley. All funds were fully expended in the period. The closing fund relates to the net book value of fixed assets being written down in line with the depreciation over the assets useful lives. Arts Council England - The opening & closing fund relates the net book value of fixed assets being written down in line with the depreciation over the assets useful lives. continued... Page 33 **BRADING ROMAN VILLA TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** ## **22. MOVEMENT IN FUNDS - continued** Cover building - This includes monies donated for the cover building at Brading Roman Villa. The closing Restricted Fund consisting of £1,490,787 represents the net book value of the asset purchased with restricted income, this is being written down in line with the depreciation over the assets useful life. Royal Pavilion & Museum - The opening & closing fund relates to unspent funds in relation to the Audience Research Project. Erica Manley - The opening & closing restricted fund represents the net book value of fixed assets being written down in line with the depreciation over the assets useful lives. Museums & Schools Early Years Project - Funds were received during the year to develop a various early years workshops, events and learning resources. These funds were fully expended in the period. Its Your Museum Creative Island Project - Funds were received during the year to enable the Villa to better connect with the community. Costs were expended during the period on workshop and activities. Museum Development South West - Funds were received during the year to allow the Villa to provide Nature Walks and Wildlife sessions to the community. During the year costs were incurred on providing the walks and art resources. The closing fund relates to unspent funds to be matched against future costs. ## **23. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2025. ## **24. ULTIMATE CONTROLLING PARTY** The Charity is controlled by its Board of Trustees. Page 34 **BRADING ROMAN VILLA TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
Donated services and facilities
**Other trading activities**
Retail sales
Catering sales
Functions
Educational services
**Investment income**
Income from land
Bank interest
**Charitable activities**
Entrance fees
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Wages
Social security
Pensions
Museum expenses
Event organisation
**Other trading activities**
Shop purchases
Carried forward|2025
£
**708**
**23,708**
**6,681**
**44,078**
**75,175**
**40,680**
**104,859**
**2,769**
**14,826**
**163,134**
**4,828**
**4,163**
**8,991**
**149,195**
**396,495**
**17,172**
**1,052**
**422**
**4,464**
**13,223**
**36,333**
**14,026**
**14,026**|2024
£
614
17,545
3,463
33,551
55,173
42,676
99,820
4,209
12,141
158,846
2,752
3,857
6,609
160,997
381,625
15,900
778
383
2,285
12,829
32,175
11,969
11,969| |---|---|---| This page does not form part of the statutory financial statements Page 35 **BRADING ROMAN VILLA TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |**Other trading activities**
Brought forward
Catering purchases
Wages
Social security
Pensions
Commission
Bad debts
**Charitable activities**
Wages
Social security
Pensions
Cost of providing activities
Project costs
Volunteer hours
**Support costs**
**Finance**
Bank charges and interest
**Admin**
Telephone system rental
Training
Sundry expenses
Advertising & marketing
Postage and stationery
Legal and professional
Subscriptions
Motor, travel & accommodation
Depreciation
**Premises**
Rates and water
Carried forward|2025
£
**14,026**
**21,794**
**90,586**
**2,049**
**1,010**
**216**
**-**
**129,681**
**99,698**
**4,522**
**1,232**
**4,693**
**-**
**30,854 **
**140,999**
**8,228**
**2,125**
**557**
**1,647**
**8,370**
**3,668**
**11,350**
**1,960**
**934**
**9,260**
**39,871**
**4,110**
**4,110**|2024
£
11,969
23,411
79,349
1,402
891
429
49
117,500
77,449
2,752
1,081
810
575
20,723
103,390
8,158
1,947
124
2,385
6,293
3,622
10,045
1,495
726
10,550
37,187
(3,518)
(3,518)| |---|---|---| This page does not form part of the statutory financial statements Page 36 **BRADING ROMAN VILLA TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |**Premises**
Brought forward
Insurance
Light and heat
Repairs and maintenance
Cleaning
Depreciation
**Governance costs**
Independent examiners fees
Accountancy and bookkeeping
Total resources expended
**Net expenditure**|2025
£
**4,110**
**13,975**
**25,303**
**16,894**
**4,227**
**51,372 **
**115,881**
**2,130**
**19,512**
**21,642**
**492,635**
**(96,140) **|2024
£
(3,518)
13,624
38,521
11,525
7,894
51,372
119,418
2,050
16,069
18,119
435,947
(54,322)| |---|---|---| This page does not form part of the statutory financial statements Page 37