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← Woodhorn Charitable Trust

2024-03-31-accounts

Charity Registration No. 1129712

Company Registration No. 06893854 (England and Wales)

WOODHORN CHARITABLE TRUST

CONSOLIDATED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

WOODHORN CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L Allason-Jones
M W Orde
Dr A Best
J W Combe
O Knight
C Deane
Cllr C Seymour (Appointed 2 September 2023)
Charity number 1129712
Company number 06893854
Principal address Woodhorn Charitable Trust
Woodhorn Museum
QEII Country Park
Ashington
Northumberland
NE63 9YF
Registered office Woodhorn Museum
QEII Country Park
Ashington
Northumberland
NE63 9YF
Auditor Sumer Auditco Limited
Unit 2, Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers CafBank
PO Box 289
West Malling
Kent
ME19 4TA
The Co-operative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6WT
Solicitors Ward Hadaway
Sandgate House
102 Quayside
Newcastle upon Tyne
NE1 3DX

WOODHORN CHARITABLE TRUST

CONTENTS

FOR THE YEAR ENDED 31 MARCH 2024

Page
Trustees' report 1 - 16
Independent auditor's report 17 - 19
Group statement of financial activities 20 - 21
Group balance sheet 22
Charity balance sheet 23
Group statement of cash flows 24
Notes to the financial statements 25 - 43

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

The trustees present their report and financial statements for the year ended 31 March 2024.

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

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 amended for accounting periods commencing from 1 January 2019).

Museums Northumberland is the public name for Woodhorn Charitable Trust.

Objectives and activities

charitable responsibilities and the need to evidence the public benefit they provide, and the summary of 2023/24 achievements below details both the myriad of opportunities that the Trust has delivered for learning, engagement, and enjoyment, as well as its actions in preserving and

portfolio of museums and historic sites, and our principal focus is to deliver a programme of engaging exhibitions and events to enthuse and inspire the public; to provide educational opportunities for all ages; to increase access to arts -site engagement opportunities in partnership with communities throughout Northumberland and beyond.

The principal activities of the Trust, as set out in the Memorandum and Articles of Association are:

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WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Berwick-upon-Tweed Museum and Art Gallery; the Morpeth Chantry Bagpipe Museum and Woodhorn Museum. In addition, the Trust delivers a number of capital programmes including the high-profile Union Chain Bridge: Crossing Borders, Inspiring Communities Project suspension bridge and embed STEM skills in communities across the south of Scotland and north of England (the project has been delivered in partnership with Northumberland County Council, Scottish Borders Council and the Friends of the Union Chain Bridge); Femmer to Firmer , an innovative project designed to bring museum collecting practise into the public domain, STEM Communities, our STFC-funded project to embed STEM skills and acumen across the North East, and our Arts Council England NPO grant which facilitates community creativity in partnership with a plethora of creative practitioners.

Our education activity draws on the themes of the sites, our collections, and our temporary exhibition programme. The charity delivers fully taught education workshops to school groups at Woodhorn and Berwick-upon-Tweed and delivers formal and informal adult learning through a programme of talks, workshops, and creative opportunities. Community engagement is delivered in response to the interests and passion of our local communities. This work ranges from creating new community assets, co-authoring stories and supporting groups to pursue and fund their own projects.

In support of these activities the Trust raises funds through Trusts and Foundations, and operates small shops at Woodhorn, Berwick and Hexham, a popular café at Woodhorn and function rooms at Woodhorn, Hexham and Morpeth. The function rooms are used for meetings, conferences, weddings, performances, and events by a number relegated the Winding House (which includes the education spaces, staff offices, a suite of public toilets, a lift, a collections open store and a function suite) inoperable and have necessitated the conversion of a temporary exhibition gallery to a short-term education space, restricting both programme and commercial opportunities.

The Trustees have paid due regard to guidance issued by the Charity Commission, and to the guidance from, and agreements with, our principal funders and stakeholders, Northumberland County Council and Arts Council England, in deciding what activities the charity should undertake in support of our charitable purpose and strategic objectives.

Achievements and performance

The Trust was delighted to achieve a 73% uplift in Arts Council England National Portfolio Organisation funding for 2023-26 , securing £1,040,040, an uplift of £429k on our 2018-22 NPO grant.

Pleasingly, Museums Northumberland is returning to pre-pandemic numbers, welcoming in excess of 76k people to our four museum sites this year a 4% increase on 2022/23 footfall. The Morpeth Chantry Bagpipe Museum welcomed 10,971 visitors, whilst Hexham Old Gaol received 10,515 visitors, exceeding the 7,459 footfall achieved in 2021/22. Berwick Museum & Art Gallery and Woodhorn Museum both exceeded 2019/20 footfall, with Berwick receiving 10,736 visitors and Woodhorn welcoming 43,942 visitors (up 11% on 2022/23 ).

Museums Northumberland has been working closely with Northumberland County Council, Arts Council England, and c service through a Delivery Model Assessment (DMA). Following a competitive application process, Arts Council England increased Museums No increase achieved by just 3% of the portfolio), but the escalating fixed costs of running the service, combined with the 10% grant cut applied by Northumberland County Council are proving difficult to overcome.

The 2023/24 level of investment from Northumberland County Council equates to £1.84 per head of capita (based on the 2019 population data) well below the English Local Authority average of £4.22 quoted in the January 2024 Northumberland is working hard to address these budgetary limitations.

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Our fundraising performance (excluding our ACE NPO grant) represents a £34 return for every £1 invested well above the Fundraising Industry Standard Benchmark of £12 for every £1 spent.

Visitors

Our charged-for sites Woodhorn Museum, Berwick Museum & Art Gallery and Hexham Old Gaol have welcomed 10% more visitors in comparison to 2022/23, and increased Admissions Income and Secondary Spend by 10%.

Museums Northumberland achieved a TripAdvisor Travellers’ Choice Award 2023 for the third year running for Woodhorn Museum, putting the Museum in the top rated 10% of reviewed venues worldwide.

Woodhorn Museum

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Hexham Old Gaol

Berwick Museum & Art Gallery

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Morpeth Chantry Bagpipe Museum e 10,971 visitors ~~-~~ a 20% increase on 2022/23

Online Engagement

Website Website
Users Sessions Page Views Online Shop
102,384
+4.04%		 139,813
+3.6%		 381,417
+6.86%		 314 purchasers
+10.95%
£6762.20+8.69%
Email
Subscribers Open Rate Click Rate Revenue
12,010
+10.43%		 41%
+3.8%		 1.6%
-34%		 £317
-11%
Instagram
Museum Content Interaction Followers
Woodhorn
Museum		 3,844
+100%		 2800
+321 followers		 +321 followers
Berwick Museum
& Art Gallery		 336
+100%		 1300
+120 followers		 1300
+120 followers
Hexham Old
Gaol		 316
+100%		 638
+78 followers		 +78 followers
Facebook
Museum Content
Interaction		 Followers Link Clicks
Berwick Museum
& Art Gallery		 3,751
+15.8%		 1,900
+117 net followers		 1,606
-8.5%
Hexham Old
Gaol		 1,232
+59.8%		 925
+88 net followers		 1,092
+160%
Morpeth Chantry
Bagpipe Museum		 496
-56.3%		 758
+32 net followers		 32
-65.6%
Woodhorn
Museum		 23,936
+1.8%		 20,880
+1249 net followers		 11,325
+2.7%

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Media Engagement

£26k.

Television

Radio

Newspapers and Magazines:

Programme Delivery

Our Past, Your Future : The North of Tyne Combined Authority and Northumberland County Council funded project, nner, at the contributions. The project, which ran from Sept 2019 to July 2023, (including an extension of 7 months due to the impacts of the pandemic) was delivered in partnership by Museums Northumberland, NUSTEM of Northumbria University and Historic England. The team engaged with 15 partner primary schools who received workshops, continuing professional development (CPD) for teachers, loan boxes of STEM equipment, family story time sessions, and family and community workshops. Three partner secondary schools took part in a digital animation project and engaged with practitioners working in digital careers. The project also ran a 4-week STEM holiday hunger alleviation Summer School at Woodhorn Museum during the summer of 2022. future has been used by 34,000+ learners and the feedback has been extremely positive:

from a historical perspective. This project also allowed them to look to the future. Making that link between old and new industries, and especially when working with young people, helped them to understand that landscape and where they fit into it, and that they can be the architect of their own Emma Tominey, Learning and Communications Designer

ng within our school and given the children a better understanding of the history of the region, where they came from and what opportunities they have Teacher, Primary Partner School

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Teacher, Partner Primary School

In the final evaluation survey 89% of primary teachers said they had enough knowledge of science careers to confidently include them in their science lessons, representing an increase of 76% from the start of the project. Whilst 67% of teachers said they had helped students think about career routes available from different subject areas.

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

look at

Parent Feedback

Parent Feedback

"Proud that Hexham is hosting a pride event" Visitor Feedback

"Happy! a huge relief to see this in Hexham for our family" Visitor Feedback

Visitor Feedback

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

“Twas drawn back again and again to the bright colours, theatricality, bold typography, curling natural motifs and positive language of the Banner Ramp. The banners seem particularly resonant in the current times of environmental and political unrest, protest and activism. I found them powerful and uplifting with the idea of hope for the future captured in each one.” Imogen Cloët

The artist chose to create work for our former Tanky Engine Shed and Cage Shop, as it was originally a place where essential colliery equipment was maintained and repaired. The installation invited us to ‘notice’, maintain and repair our natural environment, reflecting the concerns and hopes raised by our community contributors.

During the exhibition run 16,165 people visited the exhibition, and we have negotiated to retain the large and window boxes from the commission to enhance the Cage Shop as a space for community engagement.

So simple but effective. Love the notice on the door and to hear it is a quote from a kid is fantastic. Love it. Always hope for the future.” Visitor Feedback

  - Visitor Feedback

     - Visitor Feedback

Facebook Feedback

Facebook Feedback

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“Brilliant ~~—~~ keeping all this “alive”.

James (Ayrshire)

Good to listen to the live music played by the bagpipe band. The musicians were very kind. You should keep this place open.” Florine & Isabelle (Hamburg, Germany)

Susan (Rothbury)

Visitor Feedback

Visitor Feedback

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Castle Parks. Partners were invited to share hopes and ideas for collaboration, as well as recruit new volunteers. Bridge postcards were issued to all attendees to record future actions. Feedback has been phenomenal, and Museums Northumberland is now supporting widespread community efforts to celebrate Berwick Old Bridge’s 400th anniversary in 2024, coordinating effort s between Northumberland County Council’s Engineering Team and community partners. A follow up event on the Bridge 400 theme is planned for quarter 4, and a bid has been submitted to the Reece Foundation for community celebrations and new interpretation and landscaping.

groups and see what everyone is doing. It was a very positive event and was great for networking and putting names to faces. Lunch was also delicious 17 Participant Feedback

note to thank you and the team at Museums Northumberland for a very positive Heritage Fayre. Congratulations to you all again on the Chainbridge. A great achievement on all fronts.” Participant Feedback

Learning

The Education Team welcomed over 2,900 school visits throughout the year, operating within the confines of the temporary exhibition space, owing to the outstanding MEND repairs referenced above. A further 2,932 individual learners were engaged through scho ols’ outreach sessions, and over 7,000 participants of all ages engaged in offsite informal learning activity. Sharing STEM Best Practice: We are pleased to report that we had a second Group for Education in Museums (GEM) Journal case study published in quarter 3. The journal’s theme was ‘Social Impact’, and our case study was entitled ‘The Union Chain Bridge and its Travelling Canvas. ~~’~~ The case study was co-authored by Museum Northumberland’s Becki Cooper, and artist, Claire Beattie: https://gem.org.uk/wp-content/uploads/2023/11/GM169-Gem-Case-Studies-31_v2-1.pdf

Schools Sample Feedback:

‘| just wanted to take the time to say thank you for our recent visit to Woodhorn. Everything has been fantastic from organisation prior to the visit up until the moment we left. The staff were brilliant and very engaging.’

2 pupils in my group who struggle to stay in a whole lesson on a typical day in school, yet they were engaged and interested the whole day at Woodhorn which is credit to the museum and the staff themselves’

and yourself and your colleagues were friendly and knowledgeable. The children have all given very positive feedback to me and are all very keen to come back with their grown ups to show off their new

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WOODHORN CHARITABLE TRUST

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Financial review

The statement of financial activities shows total incoming resources of the group to be £1,942,179 (2023: £1,972,072), with a net deficit of £151,205 (2023: deficit £311,745). Restricted funds at the end of the period amounted to £194,315 (2023: £246,893) and designated funds £4,114 (2023: £6,550).

The 'free reserves' of the group (defined as those unrestricted funds not designated for specific purposes or tied up in fixed assets) stood at £193,980 (March 2023: £280,092).

The Trustees remain grateful for the support of Northumberland County Council during the year which provides a large proportion of the charity’s revenue as part of a Service Level Agreement ~~.~~ The Council sets performance measures associated with this funding, has a nominated Trustee on the Board and receives full quarterly updates and copies of all Board papers.

Museums Northumberland is delivering a number of externally funded projects which is reflected in the level of restricted funding and expenditure that the Trust has experienced during the year. Museums Northumberland is able to use some of this funding to cover a share of its own administrative and office costs associated with the project.

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Going Concern

When preparing financial statements, the management of the charitable group are required to make an assessment to liquidate the entity or to cease trading or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management considers all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue. In view of the information below the accounts have been prepared on an other than going concern basis

In October 2024 the decision was made by Northumberland County Council (NCC) to bring the provision of museum services back in-house in order to join a local partnership managed by the Tyne and Wear Archives and Museums. NCC provide approximately half of the charity grant income and are the owners of the museum sites. The target date for the planned transfer is 1 April 2025.

The charitable group will continue to operate as normal up to 31 March 2025 and will facilitate a smooth transfer of contracts and staff, to the new entity to ensure continuity of provision of cultural services across the county. Once the transfer is complete, the charitable group will continue to exist for what is expected to be a relatively short period for any final remaining net assets to be disposed of and the companies wound up.

No adjustments in respect of the above have been made to the consolidated financial statements for the year ended 31 March 2024. The Board of Trustees and Management Team have prepared detailed forecasts for the remainder of the 2024/25 financial year to facilitate the smooth transfer to the partnership and are satisfied that adequate resources will be available. A Transition Board has been appointed to oversee the process, including representatives from Northumberland County Council, Tyne and Wear Archives and Museums and Museums Northumberland, led by Northumberland County Council.

Fundraising practices

Woodhorn Charitable Trust (operating as Museums Northumberland) does not use a commercial participator to raise funds, nor have we engaged volunteers on our behalf/in aid of our charity, during the period relating to this report; all our fundraising has been conducted by Trust staff, with the support of a freelance consultant under contract with the charity (this arrangement is subject to annual appraisal and renewal). Any monies raised directly from the public follow all guidelines set out by the Charity Commission, the Code of Fundraising Practice and English & Welsh law in every respect. There have been no fundraising compliance issues nor have we received any complaints in relation to our public fundraising during the period relating to this report. We have robust protections in place for vulnerable people, through our Safeguarding Policy and annual training programme, and respect the privacy and contact preferences of donors.

Investment powers

The Trustees may invest funds after seeking advice from financial advisors so long as legal requirements and those

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be at this level will e current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Risk Management

The Trustees monitor risks via a Risk Register which is tabled at each Board Meeting. Risks and mitigating factors are assessed, and actions regularly reported. The Trustees are satisfied that systems are in place to mitigate exposure to major risks.

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WOODHORN CHARITABLE TRUST

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Plans for the future

pressure, and we are working hard to ensure that we continue to deliver excellent value for money and effective

Budget projections for the financial year of 2024/25 are predicated on the following key assumptions:

Museums Northumberland has been working closely with Northumberland County Council, Arts Council England, and service through a Delivery Model Assessment (DMA).

Following this and the councils decision to bring these services back in house and join the Tyne and Wear Museums & Archives partnership (TWAM), MN is working closely with NCC and TWAM to facilitate a smooth transition and maintain provision of cultural services across the county.

Museums Northumberland is grateful to the following partners & collaborators:

Northumberland County Council, Arts Council England, Ashington Town Council, The Society of Antiquaries Newcastle, The 1991 Society, The Friends of Berwick Museum & Record Office, IT, Supanaught, Eliot Smith Dance Company, The Northumbria Healthcare Trust, Heart of Hirst, Blast, The Bedlington Creatives, Northumberland College, The Northumberland CVA, Northumberland & Scottish Borders Councils Land Services, Historic England, Historic Environment Scotland, The Friends of the Union Chain Bridge, Headland, Arts & Heritage, Wessex Archaeology, Northumbria University NU STEM, The Ashington Group Trustees, The English Civic Museums Network, The North East Cultural Partnership, The Hexham Cultural Partnership, The North East Cultural Venues Development Board, Ashington Town Council, The Spencer Group, The National Heritage Lottery Fund, The Art Fund, Action for Children, CELL Big Local, Heart of Hirst, Imogen Cloet, Ednie Wilson, Age UK, Partnership Network, Barnardo's, The Bridge Project, NCC Re

Preservation Trust, Glasgow Life, National Galleries Scotland, Claire Beattie, Kathryn Elkin, Emma Tominey, The Berwick Youth Project, The Chain Bridge Honey Farm, the Tweed Forum, the National Trust for Scotland, Jim Gibson, NCWEA, Bridge 400, the Berwick Literary Society, the Berwick-upon-Tweed Civic Society, the Border Archaeological Archives, the Friends of Castle Parks, Jamie Sinclair, the Northumberland County of Sanctuary.

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TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Structure, governance and management

The charity is a company limited by guarantee governed by its Memorandum and Articles of Association incorporated 19th April 2009 as amended on 15 March 2018.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

L Allason-Jones M W Orde Dr A Best A Edwards Resigned 16 December 2024 J W Combe B Flux Resigned 1 September 2023 S Martin Resigned 16 December 2024 A C Willey Resigned 1 August 2024 O Knight C Deane Cllr C Seymour Appointed 2 September 2023

Chief Executive Officer

R J Brown

Chief Operating Officer

J Raw

Appointment of Trustees

As set out in the Articles of association Northumberland County Council is entitled to nominate up to two Trustees. The Board of Trustees may from time to time by resolution appoint further Trustees. When considering recruitment for the Board, the organisational priorities are considered, and the skills of the Board and the Executive Team are reviewed to prioritise the acquisition of complementary and business-sensitive skillsets.

Trustees are appointed to serve a term of three years and upon completion of a term may be reappointed with the yee may be a Trustee of the charity and no individual who has been deregistered from Companies House may serve on the Board. The Trust has a conflicts of interest policy, and a register of interests is maintained by the Board. At each meeting, Trustees are asked to share potential conflicts so that matters may be dealt with responsibly and managed within the context of the policy. Scheme of Delegation which is subject to annual review.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisation

The Board of Trustees has overall responsibility for the management of the charity. The Board meets at least quarterly and has a Finance Committee which meets regularly throughout the year. A Chief Executive Officer is appointed by the Board to manage the day-to-day operations of the charity and the duties and responsibilities are outlined in a

Trustee induction and training

New Trustees undergo an induction meeting with the Chair and CEO to brief them on their legal obligations, the responsibilities of Charity Trustees, the content of the Memorandum and Articles of Association, and the policies and relevant documents and are required to submit an Appointment Form to Companies House, an Emergency Contact Form, a Declaration of Interests, and a Résumé.

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Related parties

The charity's wholly owned subsidiary, Woodhorn Enterprises Limited was established to run the trading arm of the charity comprising the retail, catering and commercial events. Profits from the subsidiary are to be gift aided annually to the charity.

The charity provides a service to Northumberland County Council as defined by the service level agreement. The Council owns five of the sites on which the charity operates (the sixth, the Berwick Barracks which is home to the Berwick-upon-Tweed Museum and Art Gallery is owned by DCMS).

There is no structural connection between the parties.

Statement of trustees' responsibilities

The trustees, who are also the directors of Woodhorn Charitable Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

Auditor

auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

M W Orde Trustee

Dated:

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WOODHORN CHARITABLE TRUST

TO THE MEMBERS OF WOODHORN CHARITABLE TRUST

Opinion

2024 which comprise the group statement of financial activities, the group balance sheet, the charitable company balance sheet, the group statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FR Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

We draw attention to accounting policy 1.2 to the financial statements which explains that the charitable group will cease to provide museum services from 1 April 2025 and therefore the trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in accounting policy 1.2. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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WOODHORN CHARITABLE TRUST

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Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsib using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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Capability of the audit in detecting irregularities, including fraud

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http://www. ~~f~~ rc ~~.~~ org ~~.~~ uk/auditorsresponsibilities ~~.~~ This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

[S.D.Signed Surby:

Mr Stephen Slater (Senior Statutory Auditor) for and on behalf of Sumer Auditco Limited Statutory Auditor Unit 2, Gosforth Park Avenue Newcastle upon Tyne NE12 8EG

Date:

19

WOODHORN CHARITABLE TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Current financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
625,419
3,736
553,654
Charitable activities
4
37,157
-
-
Investments
5
18,122
-
-
Other trading activities
6
177,079
-
-
Other income
7
527,012
-
-
Total income
1,384,789
3,736
553,654
Expenditure on:
Trading subsidiary
6
225,986
-
-
Charitable activities
8
1,254,994 6,172 606,232
Total resources expended
1,480,980
6,172
606,232
Net income for the year/
Net movement in funds
(96,191)
(2,436)
(52,578)
Fund balances at 1 April 2023
314,722
6,550
246,893
Fund balances at 31 March 2024
218,531
4,114
194,315		 Total
2024
£
1,182,809
37,157
18,122
177,079
527,012
1,942,179
225,986
1,867,398
2,093,384
(151,205)
568,165
416,960		 Total
2023
£
1,220,412
28,199
15,724
196,373
511,364
1,972,072
204,534
2,079,283
2,283,817
(311,745)
879,910
568,165

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

20

WOODHORN CHARITABLE TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Prior financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
690,904
-
529,508
Charitable activities
4
25,679
2,520
-
Investments
5
15,724
-
-
Other trading activities
6
196,373
-
-
Other income
7
511,364
-
-
Total income
1,440,044
2,520
529,508
Expenditure on:
Trading subsidiary
6
204,534
-
-
Charitable activities
8
1,313,895
26,766
738,622
Total resources expended
1,518,429
26,766
738,622
Net income for the year/
Net movement in funds
(78,385)
(24,246)
(209,114)
Fund balances at 1 April 2022
393,107
30,796
456,007
Fund balances at 31 March 2023
314,722
6,550
246,893		 Total
2023
£
1,220,412
28,199
15,724
196,373
511,364
1,972,072
204,534
2,079,283
2,283,817
(311,745)
879,910
568,165

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

21

WOODHORN CHARITABLE TRUST

GROUP BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 124,946 160,124
Heritage assets 14 175,866 175,866
300,812 355,990
Current assets
Stock 29,894 30,668
Debtors 17 228,455 268,186
Cash at bank and in hand 361,157 477,803
619,506 776,657
Creditors: amounts falling due within
one year 18 (327,492) (368,616)
Net current assets 292,014 408,041
Total assets less current liabilities 592,826 744,031
Provisions for liabilities 19 (175,866) (175,866)
Net assets 416,960 568,165
Income funds
Restricted funds 21 194,315 246,893
Designated funds 22 4,114 6,550
General unrestricted funds 22 218,531 314,722
416,960 568,165

The financial statements were approved by the Trustees on

[WideSigned by: Br M W Orde Trustee

Company registration number 06893854

22

WOODHORN CHARITABLE TRUST

CHARITY BALANCE SHEET

AS AT 31 MARCH 2023

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 124,946 160,124
Heritage assets 14 175,866 175,866
Investments 15 1 1
300,813 335,991
Current assets
Debtors 17 353,286 383,693
Cash at bank and in hand 322,576 465,237
675,862 848,930
Creditors: amounts falling due within
one year 18 (302,813) (352,761)
Net current assets 373,049 496,169
Total assets less current liabilities 673,862 832,160
Provisions for liabilities 19 (175,866) (175,866)
Net assets 497,996 497,996 656,294
Income funds
Restricted funds 21 194,315 194,315 246,893
Designated funds 22 4,114 4,114 6,550
General unrestricted funds 22 299,567 299,567 402,851
497,996 497,996 656,294

As permitted by s408 of the Companies Act 2006, the charity has not presented its own income and expenditure account and related notes. The charity's net outgoing resources for the year was £158,298 (2023: £303,584).

The financial statements were approved by the Trustees on

[NidalSigned by: Br M W Orde Trustee

Company registration number 06893854

23

WOODHORN CHARITABLE TRUST

GROUP STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
26
Investing activities
Investment income received
Net cash generated from/(used in)
investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
(134,768)
18,122
18,122
(116,646)
477,803
361,157		 2023
£
£
(506,559)
15,724
15,724
(490,835)
968,638
477,803		 2023
£
£
(506,559)
15,724
15,724
(490,835)
968,638
477,803
(490,835)
968,638
477,803

24

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Woodhorn Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Woodhorn Museum, QEII Country Park, Ashington, Northumberland, NE63 9YF.

1.1 Accounting convention

Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

When preparing financial statements, the management of the charitable group are required to make an management either intends to liquidate the entity or to cease trading or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management considers all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue. In view of the information below the accounts have been prepared on an other than going concern basis

In October 2024 the decision was made by Northumberland County Council (NCC) to bring the provision of museum services back in-house in order to join a local partnership managed by the Tyne and Wear Archives and Museums. NCC provide approximately half of the charity grant income and are the owners of the museum sites. The target date for the planned transfer is 1 April 2025.

The charitable group will continue to operate as normal up to 31 March 2025 and will facilitate a smooth transfer of contracts and staff, to the new entity to ensure continuity of provision of cultural services across the county. Once the transfer is complete, the charitable group will continue to exist for what is expected to be a relatively short period for any final remaining net assets to be disposed of and the companies wound up.

No adjustments in respect of the above have been made to the financial statements for the year ended 31 March 2024. The Board of Trustees and Management Team have prepared detailed forecasts for the remainder of the 2024/25 financial year to facilitate the smooth transfer to the partnership and are satisfied that adequate resources will be available. A Transition Board has been appointed to oversee the process, including representatives from Northumberland County Council, Tyne and Wear Archives and Museums and Museums Northumberland, led by Northumberland County Council.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

25

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors 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.

1.4 Incoming resources

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.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Grants receivable are recognised in the Statement of Financial Activities in full in the year which they become receivable, that is when the conditions for receipt have been met.

1.5 Resources expended

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

All expenditure is accounted for on an accrual basis and has been classified under the headings that aggregate all costs to that category. Charitable activity costs includes expenditure relating to the operation of the charity and includes both direct and support costs relating to those activities. Support costs include central function expenditure and are allocated on the basis of staff allocated to each activity. Governance costs include those incurred in the governance of the charity and its assets, and are primarily associated with constitutional and statutory requirements.

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:

Property improvements 20% reducing balance Fixtures, fittings and equipment 10-20% straight line and 20% reducing balance Museum displays 20% reducing balance

26

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

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 net income/(expenditure) for the year.

Individual fixed assets in excess of £3,000 are capitalised otherwise items below this amount are charged to revenue.

1.7 Heritage assets

The Trust has a collection of heritage assets assets fall into the following categories:

It is not possible for these assets to be capitalised as a current value for the items is not readily available and cannot be obtained at a cost commensurate to the benefit of including these items. 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. The highest possible standards of collection management are applied, and the catalogues are made available as widely as possible to facilitate all enquiries and requests for information, subject to appropriate security and data protection guidelines.

Conservation expenditure incurred on heritage assets is recognised through the Statement of Financial Activities.

The Trust acquired a number of paintings and a pendant, through grant funding, which meet the definition of heritage assets as per section 34 of FRS 102. Following guidance laid down in the provisions of FRS 102, heritage assets are to be initially recognised at cost and then subsequently measured at fair value, however it is the policy of the Trust to take into account cost implications that would be associated with the realisation of value from Heritage Assets and therefore only to attribute a valuation where the Heritage Assets are capable of realising a net value to the Trust upon disposal. Such cost implications include the consequent repayments of grants, including acquisition grants, as shown in Note 14.

1.8 Fixed asset investments

Fixed asset investments are initially measured at cost.

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 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.

27

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.11 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, 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the cancelled.

1.12 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.13 Employee benefits

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.

28

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1.14 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the 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.

1.15 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

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.

Critical judgements

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability.

Determining residual values and useful economic lives of tangible fixed assets

The charity depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

29

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies

Unrestricted
Designated
Restricted
Total
funds
funds
funds
general
2024
2024
2024
2024
£
£
£
£
Donations and gifts
39,488
-
-
39,488
Grants received
585,931
3,736
553,654
1,143,321
625,419
3,736
553,654
1,182,809
Unrestricted
Restricted
funds
funds
general
2023
2023
£
£
Donations and gifts
35,719
-
Grants received
655,185
529,508
690,904
529,508
4
Charitable activities
Public
programme
2024
£
Sales within charitable activities
37,157
Public
programme
2024
£
Analysis by fund
Unrestricted funds
37,157
Designated funds
-
37,157		 Total
2023
£
35,719
1,184,693
1,220,412
Total
2023
£
35,719
1,184,693
1,220,412
Public
programme
2023
£
28,199
Public
programme
2023
£
25,679
2,520
28,199		 Total
2023
£
35,719
1,184,693
1,220,412
Total
2023
£
35,719
1,184,693
1,220,412
Public
programme
2023
£
28,199
Public
programme
2023
£
25,679
2,520
28,199
28,199

30

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

5 Investments

Investments
Unrestricted Unrestricted
funds funds
general general
2024 2023
£ £
Rental income 14,198 13,718
Interest receivable 3,924 2,006
18,122 15,724

6 Commercial trading operations and investments in trading subsidiary

The wholly owned subsidiary, Woodhorn Enterprises Limited (company number 07135083), which is incorporated in the United Kingdom pays its taxable profits to the charity by gift aid, when available. Woodhorn Enterprises Limited provides the trading services of the charity. The charity owns the entire issued share capital of 1 ordinary £1 share.

A summary of the trading results is shown below.

2024 2023
£ £
Turnover 177,079 196,373 177,079 196,373
Cost of sales (82,833) (80,194)
Gross Profit 94,246 116,179 94,246 116,179
Administration expenses (143,153) (124,340)
Loss before taxation (48,907) (8,161) (48,907) (8,161)
Tax on loss - -
Loss for the financial year (48,907) (8,161) (48,907) (8,161)
The assets and liabilities of the subsidiary were
Current assets 70,053 49,989 70,053 49,989
Creditors amounts falling due within one year (207,087) (138,116) (207,087) (138,116)
Net current liabilities (137,034) (88,127) (137,034) (88,127)
Aggregate share capital and reserves (137,034) (88,127) (137,034) (88,127)

31

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

7 Other income

Other income
**Unrestricted ** Unrestricted
funds funds
general general
2024 2023
£ £
Other income 74,000 76,073
Parking fees and Annual Pass 152,160 138,366
Consultancy 125,413 133,382
Archive storage recharge 175,439 163,543
527,012 511,364

8 Charitable activities

Public
Programme
2024
£
Staff costs
383,749
Depreciation and
impairment
25,099
Other charitable costs
204,741
613,589
Share of support costs
(see note 9)
397,355
Share of governance
costs (see note 9)
9,626
1,020,570
Analysis by fund
Unrestricted funds
general
421,001
Unrestricted funds -
designated
6,172
Restricted funds
593,397
1,020,570		 Visitor &
building
services
2024
£
252,231
10,079
110,957
373,267
473,561
-
846,828
833,993
-
12,835
846,828		 Total
Public
programme
Visitor &
building
services
2024
2023
2023
£
£
£
635,980
605,864
241,329
35,178
23,856
17,972
315,698
347,779
39,316
986,856
977,499
298,617
870,916
454,314
341,440
9,626
4,233
3,180
1,867,398
1,436,046
643,237
1,254,994
786,738
527,157
6,172
26,766
-
606,232
622,542
116,080
1,867,398
1,436,046
643,237		 Total
2023
£
847,193
41,828
387,095
1,276,116
795,754
7,413
2,079,283
1,313,895
26,766
738,622
2,079,283

32

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

9
Support costs
Support
costs
£
Staff costs
226,531
Rent, rates, heat and light
228,847
Repairs and maintenance
138,695
Insurance
46,549
Computer and software costs
48,020
Travel and subsistence
1,167
Marketing
53,008
Security
78,066
Other administrative costs
50,033
Audit fees
-
870,916
Analysed between
Charitable activities
870,916		 9
Support costs
Support
costs
£
Staff costs
226,531
Rent, rates, heat and light
228,847
Repairs and maintenance
138,695
Insurance
46,549
Computer and software costs
48,020
Travel and subsistence
1,167
Marketing
53,008
Security
78,066
Other administrative costs
50,033
Audit fees
-
870,916
Analysed between
Charitable activities
870,916
Governance
costs
£
-
-
-
-
-
-
-
-
-
9,626
9,626
9,626		 2024
£
226,531
228,847
138,695
46,549
48,020
1,167
53,008
78,066
50,033
9,626
880,542
880,542		 Support
costs
Governance
costs
£
£
172,670
-
204,717
-
110,338
-
41,735
-
44,881
-
1,797
-
68,204
-
72,381
-
79,031
-
-
7,413
795,754
7,413
795,754
7,413		 2023
£
172,670
204,717
110,338
41,735
44,881
1,797
68,204
72,381
79,031
7,413
870,916 803,167
870,916 803,167

Governance costs includes auditors remuneration of £5,500 (2023: £4,000).

33

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

10 Trustees

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

During the year none of the trustees claimed expenses (2023: none) in respect of travel costs.

11 Employees

Number of employees

The average monthly number of employees during the year was:

Collections
Audience development
Visitor and building services
Administration
Marketing
Trading subsidiary		 2024
Number
3
5
15
5
1
9
38		 2023
Number
2
11
37
5
1
10
66
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
£
888,535
59,860
52,241
1,000,636		 2023
£
988,515
63,579
85,826
1,137,920

The total employment costs includes an amount of £138,125 (2023: £118,057), which relates to the activities of the subsidiary.

The number of employees whose annual remuneration was £60,000 or more were:

2024 2023
Number Number
£70,000 - £79,999 1 1

Employment costs

The remuneration of key management personnel was as follows:

Key management personnel remuneration and benefits, including pension contributions amount to £76,527 (2023: £76,356).

34

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent these are applied to its charitable objects.

13 Tangible fixed assets Group and Charity

13 Tangible fixed assets
Group and Charity
Property
Fixtures,		 Museum Total
improvements fittings displays
and
equipment
£ £ £ £
Cost
At 1 April 2023 84,307 493,191 250,000 827,498
Additions - - - -
At 31 March 2024 84,307 493,191 250,000 827,498
Depreciation and impairment
At 1 April 2023 30,396 386,978 250,000 667,374
Depreciation charged in the year 10,782 24,396 - 35,178
At 31 March 2024 41,178 411,374 250,000 702,552
Carrying amount
At 31 March 2024 43,129 81,817 - 124,946
At 31 March 2023 53,911 106,213 - 160,124
14 Heritage assets
Artwork
£
At 1 April 2023 and 31 March 2024 175,866

Throughout the years the Trust has acquired, through grant funding, pieces of Northumberland Folk Artwork and an early medieval gold cross pendant. In accordance with the Trust's accounting policies this has been recognised as a heritage asset. Conditions imposed by the funders are such that in the event that the painting is sold the funds would be returned to the funders, accordingly a provision has been recognised, as shown in Note 19.

35

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

15
Fixed asset investments
Charity
Cost or valuation
At 1 April 2023 & 31 March 2024
Other investments comprise:
Investments in subsidiaries
16
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
17
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by group undertakings
Other debtors

Prepayments and accrued income
 Group
2024
£
91,683
-
4,540
132,232
227,491		 2023
£
63,679
-
6,012
198,495
268,186		 Other
investments
1
2024
2023
£
£
1
1
2024
2023
£
£
91,683
63,679
176,100
157,340
Charity
2024
2023
£
£
91,683
59,747
126,409
122,262
4,540
6,012
130,654
195,672
353,286
383,693		 Other
investments
1
2024
2023
£
£
1
1
2024
2023
£
£
91,683
63,679
176,100
157,340
Charity
2024
2023
£
£
91,683
59,747
126,409
122,262
4,540
6,012
130,654
195,672
353,286
383,693		 Other
investments
1
2024
2023
£
£
1
1
2024
2023
£
£
91,683
63,679
176,100
157,340
Charity
2024
2023
£
£
91,683
59,747
126,409
122,262
4,540
6,012
130,654
195,672
353,286
383,693
2023
£
1
2023
£
63,679
157,340
2023
£
59,747
122,262
6,012
195,672
383,693

36

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

18 Creditors: amounts falling due within one
Group Charity
2024 2023 2024 2023
Amounts falling due within one year: £ £ £ £
Trade Creditors 133,435 125,637 128,138 119,221
Other taxation and social security 42,665 31,703 38,038 32,090
Accruals and deferred income 151,391 211,276 136,637 202,450
327,491 368,616 302,813 352,761
19 Provisions for liabilities 19 Provisions for liabilities 2024 2023
£ £
Heritage asset funding provisions 175,866 175,866
Movements on provisions: £
At 1 April 2023 175,866
Provision made in the year -
At 31 March 2024 175,866

20 Pension and other post-retirement benefit commitments

Defined benefit schemes

The charity participates in the local government pension scheme, the Northumberland County Council Pension Fund, a statutory, funded, final salary scheme. The scheme is a multi-employer defined benefit scheme and it is not possible in the normal course of events to identify the assets and liabilities of the scheme that are attributable to the charity. Accordingly the scheme is accounted for as if it were a defined contribution scheme. The pension cost charge in the financial statements in relation to the scheme amounted to £27,689 (2023: £43,408).

Actuarial valuations are made every 3 years and the latest report at 31 March 2019 indicates that the scheme had an overall deficit of £1.2m with a funding ratio of 110%. The charity has been requested to make employer contributions of 9.7% for the 3 years to 31 March 2025, at which point the rate will be revised, based on the 31 March 2024 actuarial valuation.

Defined contribution schemes

The company also operates a defined contribution pension scheme for new staff. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to Group and Charity £24,563 (2023: £38,477).

37

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

21 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Current financial year

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Movement in funds| |Balance at|Incoming|Resources|Balance at| |1 April|resources|expended|31 March| |2023|2024| |£|£|£|£| |National Portfolio Organisation|-|346,680|(346,680)|-| |Ready to Borrow - Capital assets|10,896|-|(2,180)|8,716| |MN: bait - Creative People and Places|31,669|-|(26,501)|5,168| |Bridge funding|Creative People and Places|15,630|-|-|15,630| |Summer STEM Club|-|8,550|(8,537)|13| |Collections engagement|36,886|19,598|(34,896)|21,588| |-| |StART Project|6,292|(662)|5,630| |STEM Learning (NUCLEUS)|-|15,032|(15,032)|-| |Volunteer Gardening Group|-|5,250|-|5,250| |Conservation materials|1,560|1,000|(1,620)|940| |-| |Playpark phase II|57,118|(10,316)|46,802| |Ashington Group 90|-|36,000|(12,000)|24,000| |Miners' Picnic|-|3,000|(2,960)|40| |Pop up Ashington Group Hut|-|7,000|(7,000)|-| |Our Past, Your future|-|61,239|(61,239)|-| |Respond and Reimagine|4,969|-|-|4,969| |Recovery Funding|81,006|-|(25,437)|55,569| |Ord Cross Acquisition|867|-|(867)|-| |Critical Winding House 1 repairs|-|50,305|(50,305)|-| |246,893|553,654|(606,232)|194,315|

----- End of picture text -----

38

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

21 Restricted funds (continued)

Prior financial year

Movement in funds
Balance at Incoming Resources Balance at
1 April resources expended 31 March
2022 2023
£ £ £ £
Ready to Borrow - Capital assets 16,208 - (5,312) 10,896
MN: bait - Creative People and Places 121,036 100,064 (189,431) 31,669
Bridge funding
Creative People and Places		 62,000 74,000 (120,370) 15,630
Collections engagement 21,455 51,640 (36,209) 36,886
StART Project 6,831 - (539) 6,292
Conservation materials 2,051 1,000 (1,491) 1,560
Playpark phase II 70,013 - (12,895) 57,118
National Portfolio Organisation - 203,680 (203,680) -
Our Past, Your Future 4,654 97,424 (102,078) -
Respond and Reimagine 12,662 - (7,693) 4,969
Recovery Funding 138,847 - (57,841) 81,006
Ord Cross Acquisition 250 1,700 (1,083) 867
456,007 529,508 (738,622) 246,893

National Portfolio Organisation 2023 to 2027 This award is a National Portfolio grant from Arts Council Create programme. Ready to borrow fund This relates to two grants from Tyne and Wear Museums to upgrade the security and monitoring systems at Berwick and Woodhorn Museum, providing enhanced protection for valuable artworks housed or on loan.

MN:bait - Creative People and Places, National Peer Learning & Communication Network and bait Legacy Funds These funds relate to grants from Arts Council England, Public Health Services (NCC), Northumberland County Council and several small community grants to deliver a programme of activity to increase arts engagement in South East Northumberland and to delivery and to support, develop and deliver a national peer learning programme for funded Creative People and Places programmes, nationally.

Bridge Funding This fund relates to a grant from Arts Council England to support the continuation of the Creative People & Places programme until 31st March 2023.

Summer STEM club This fund relates to a grant from the Community Foundation to support the delivery of a Summer STEM Club at Woodhorn Museum for primary school age children.

Collections Appraisal and Engagement Grants received from Esmée Fairbairn Collections Fund to strengthen Collections planning and engagement.

39

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

StART Project A grant from Children and the Arts to develop the arts provision for the cultural sector for the benefit of children and young people.

STEM Learning (NUCLEUS) Funds from the University of Northumbria, on behalf of the Science & Technology Facilities Council, to support the delivery of STEM family activity in South-East Northumberland .

Volunteer Gardening Group This fund relates to a grant from the Community Foundation to support the Age UK Volunteer Gardening Group at Woodhorn Museum.

Gardening Grou ~~p~~ This fund relates to a grant from the Community Foundation to support the Age UK Volunteer Gardening Group at Woodhorn Museum

Collections Conservation This fund relates to income received from the Society of Antiquaries towards the conservation of the Museums Northumberland collections.

Play Park (phase II) This fund relates to grants from Suez Communities Trust and Ridley Family Charity and will see the expansion of the play park at Woodhorn Museum to improve accessibility.

Ashington Group 90 This fund relates to a grant from the Paul Mellon Foundation to undertake a curatorial project relating to Ashington Group at 90 years at Woodhorn Museum.

Miners' Picnic This fund relates to a grant from the Ridley Family Charity to support the engagement at the annual

Pop up Ashington Group Hut A grant from the Sir James Knott Trust to support delivery of the Pop up Ashington Group Hut family learning activity at Woodhorn Museum.

Our Past, Your Future (Heritage STEM) This project relates to STEM learning for school aged children, will be delivered in collaboration with AkzoNobel, Historic England and NUSTEM. The project is funded by the North of Tyne Combined Authority and Northumberland County Council.

Respond & Reimagine These funds relate to grants from Art Fund and Community Foundation to increase the learning and engagement, primarily at Hexham Old Gaol and Berwick Museum & Art Gallery.

Recovery Funding These funds relate to grants from Northumberland County Council and National Lottery Heritage Fund to support organisation pandemic recovery.

Ord Cross Acquisition Grants received from Berwick and District Museum and Archives to support the exhibition of the Ord Cross at Berwick Museum & Art Gallery.

Critical Winding House 1 repairs This fund relates to the full cost recovery of carrying out repairs to Winding House No. I. Costs fully recovered from Northumberland County Council. ACE MEND fund award novated to Northumberland County Council in line with current MN lease arrangement.

40

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

22 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.

Current financial year

Movement in funds
Balance at Incoming Expenditure Balance at
1 April resources 31 March
2023 2024
£ £ £ £
General funds 314,722 1,384,789 (1,480,980) 218,531
Open Exhibition Fund 6,550 3,736 (6,172) 4,114
321,272 1,388,525 (1,487,152) 222,645
Prior financial year
Movement in funds
Balance at Incoming Transfers Balance at
1 April resources 31 March
2022 2023
£ £ £ £
General funds 393,107 1,440,044 (1,518,429) 314,722
Open Exhibition Fund 5,796 2,520 (1,766) 6,550
Contingency 25,000 - (25,000) -
423,903 1,442,564 (1,545,195) 321,272

Open Exhibition Fund this fund relates to the de-stall costs of the annual open selling exhibition which is open annually between February and April to the public.

Contingency - A contingency of £nil (2023: £25,000) was in place to cover unexpected costs incurred by circumstances that are beyond the Trust's control and which may arise during the course of the financial year.

41

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

23 Analysis of net assets between funds

Current financial year

Current financial year
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024
2024
£
£
£
Group
Fund balances at 31 March 2024 are represented by:
Tangible assets
24,551
-
100,395
Heritage assets
-
-
175,866
Current assets/(liabilities)
193,980
4,114
93,920
Provisions
-
-
(175,866)
218,531
4,114
194,315
Charity
Fund balances at 31 March 2024 are represented by:
Tangible assets
24,551
-
100,395
Heritage assets
-
175,866
Investments
1
-
-
Current assets/(liabilities)
275,015
4,114
93,920
Provisions
-
-
(175,866)
299,567
4,114
194,315
Prior financial year
Unrestricted
funds
Designated
funds
Restricted
funds
2023
2023
2023
£
£
£
Group
Fund balances at 31 March 2023 are represented by:
Tangible assets
34,630
-
125,494
Heritage assets
-
-
175,866
Current assets/(liabilities)
280,092
6,550
121,399
Provisions
-
-
(175,866)
314,722
6,550
246,893
Charity
Fund balances at 31 March 2023 are represented by:
Tangible assets
34,630
-
125,494
Heritage assets
-
-
175,866
Investments
1
-
-
Current assets/(liabilities)
368,220
6,550
121,399
Provisions
-
-
(175,866)
402,851
6,550
246,893		 Total
2024
£
124,946
175,866
292,014
(175,866)
416,960
124,946
175,866
1
373,049
(175,866)
497,996
Total
2023
£
160,124
175,866
408,041
(175,866)
568,165
160,124
175,866
1
496,196
(175,866)
656,294

42

WOODHORN CHARITABLE TRUST

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

24 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

25 Analysis of changes in net funds The charity had no debt during the year.

26
Cash generated from operations
(Deficit)/Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/ (increase) in stock
Decrease/(increase) in debtors

Increase/(decrease) in creditors
Cash generated from operations		 2024
£
(151,205)
(18,122)
35,178
774
39,731
(41,124)
(134,768)		 2023
£
(311,745)
(15,724)
41,828
(15,599)
(117,055))
(88,264)
(506,559)

43