Charity registration number 1136790 (England and Wales) Company registration number 07243034 EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms Sharon Heal Mr Joan Roca Mbert Ms Léontine Meijer-van Mensch Mr Hans Looijen (Treasurer) Dr Michal Wisniewski Dr Adriana del Jesus Munoz Ms Medea Ekner Ms Amina Ktvavac (Chair) (Appointed 1 March 2025) Ex-officio members Ms Danielle Kuijten Ms Agnes Aljas Secretary Ms Sharon Heal Charity number 1136790 Company number 07243034 Registered office Museums Association 42 Clerkenwell Close London EC1R OAZ Independent examiner Anita C Mason BA{Honsl BFP FCA Mitchell Charlesworth Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ Bankers HSBC Bank PIC 99-101 Lord Street Liverpool Merseysid8 L2 6PG Solicitors DWF LLP 5 St Paul's Square Old Hall Street Liverpool L3 9AE
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees, report Statement of Trustees. responsibilities Independent Examinerfs report Statement of financial activities Balance sheet Notes to the Financial Statements 9-16
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. Objectives and activities The European Museum Forum {EMF) provides the legal and organisational framework for the annual European Museum of the YearAward scheme (EMYA). The charity was set up to promote excellence in innovation and public quality in museum practice, encouraging the exchange of best practi and ideas wilhin the sector. It works within an overarching commitment lo citizenship. democracy and human rights. to sustainability and to bridging cullures and social and political borders. Each award within the EMYA scheme of which the principal is the European Museum of the Year Award - reflects different aspects and dimensions of these values. The funds of the charity are intended to be applied to maintain, improve and advance museum excellence, and in particular assist and support museum development for public benefit. Members of the Board and Judging Panel work in dialogue and through consultation to identify professional quality, innovation and crealivily of museums in Europe across the vast differences in scale, funding, obligations and cont8Xts. Th8 charity achiev8S this through a highly structured judging process, the regular appointment and renewal of members, as well as long term succession planning and careful govemance. Th8 Trust88s wer8 empowered to meet th8 objectives by: .Organising an annual competition to encourage museums to improve and develop their public displays and public 8ngagement programmes: .Promoting new approaches to public engagement., museum management., display and inlerpretation through Ihe means of publishing; participating in international debates, building partnerships; and most nolably by holding ils annual assembly as part of the annual European Museum of the YearAward Ceremony. The Tnjstees were empowered to invest any monies held at their discretion and administer the charity's funds. The Trustees were also at liberty to apply any monies held for the general purposes of the charity. Some costs were met by the Council of Europe. European Country Ministries, intemational and national sponsoring bodies. The Trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity s aims and objectives. Achievements and performance The business plan for 2023-2025 communicates Ihe slralegies and priorities that have framed and guided the work of Board and the Jury in 2024-2025. In a changing wodd, the work of EMF has become even more relevant. There is a growing threat to democratic security in Europe and a democratic backsliding globally. The role of museums is becoming more and more important. Museums across Europe are crucial defenders of democratic values and champions of a pluralistic society. Museums must be able to continue to work as open. democratic spaces for all. The challenge to preserve public funding and independence in management and govemance is mounting in Europe. The European Museum of the Year Awards brings to the forefront inspiring museum models and strategies that provide learning opportunities for the museum community at large.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The European Museum of the Year Awards have been organised by the EMF every year Sin 1977. EMF works within the framework of the key values of democracy, human rights, inter-cultural dialogue and of bridging Cultures and overcoming social and political borders. Over the course of 2024-2025 the Board reviewed intemal processes and the division of the tasks between Judges and Trustees. Plans were put in place to ensure financial sustainability going forward, to secure paid support for marketing and lo begin planning for the award's Jubilee year in 2027. During the year Joan Roca Albert stepped down as Chair and Hans Looijen acted as interim Chair from November 2024 to May 2025. The core responsibilities and activities for EMFIEMYA remain the annual competition and annual conference and award ceremony. The number of candidates remains high, and income from participating conference visitors remains stable. During 2024-2025 the judging processes were completed in line with standard EMF practice and with a high degree of flexibility and adaptability, courage and extraordinary commitment from the jury. In May 2024, EMYA 2024 was held anew in Portugal. Organised by the City of Portimao it took plac8 at th8 Municipial Theatre and Museum of Portimao, Portugal. The three day conference plus award ceremony, with onsite presentations by the candidates and striking keynote speakers was completed with a series of workshops by previous winners. It is worth noting that the EMYA awards ceremony was as festive as ever. The winners represent innovative museological concepts that are exemplary for all, promoting human rights, equality, decolonisalion and sustainability while strengthening communities. Candidates came from a range of mus8ums large and small and best practlC8 across Europe was ce18brat8d at the 8V8nt. Financial review In this reporting year of March 2024-March 2025 a financial equilibrium has been reached. On the one hand the costs were brought down, and on the other hand the revenues have reduced. It remains very important to keep operating costs effective, given that neither the number, nor the amount of partnerships have grown. The improved result has been predominately realised by the raise in the host fee. The income side deserves the Boards, permanent attention. The primary sources of income for EMFIEMYA are the fee due by the hosts, the candidates. application fees for the award scheme and the fees for the annual conference. Supplementing these incomes is the support from a number of public and private organisations and entities. EMFIEMYA thus receives continuous institutional support from the Council of Europe, from ministries and international and national museums associations as well as from a number of private partners. Our partners have all stayed with us and support the meaningful function of EMF and EMYA. Total income for the year amounted to £80,26012024: £95.236). Total expendilure amounted to £92,56412024'. £95,117) which included foreign exchange losses of £1.994 (2024.. losses of £3,698). There was a deficit of £12,304 {2024: surplus of £119) in the year. This brought total unrestricted reseNes to £90,648 at 31 March 202512024: £102 952). Reserve policy Whilst the Trustees consider future plans, the charity is holding £87,384 in free unreslricted reserves (total unrestricted reserves less any fixed assets) which is the equivalent to about 11 months expenditure based on 2024125 levels. Although, it is important to make clear that there is a direcl relationship between income and expenditure. If the charity were to receive no income from candidates there would also be no expenditure on judges, travel. conferences etc. The running costs of the charity are low without these costs. and the reserves would therefore last for years ralher than months. Risk managemenl The Trustees have assessed the major risks to which the charity is exposed. and are satisfied that systems are in place to mitigale exposure to the major risks.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Plans for the future The renewed exploration of the museological content and intellectual legacy of EMYA is the core of the 2025- 2028 plans, with an emphasis on the 50" birthday of EMYA in 2027. At the end of the financial year 2024- 2025. EMF was approaching its annual conference in May 2025 Bialystok, the Council of Europe Museum Prize winner 2024. The next conference will be hosted by Bilbao In 2026 by the Council of Europe Museum Prize winner 2025,. the Euskaran Elxea and plans are being explored for venues going forward. Structure, governance and management European Museum Forum {EMF) is a company limited by guarantee. registered number 07243034, and a registered charity number 1136790 governed by ils Memorandum & Articles of Association inGorporated 4 May 2010. The Trustees, who are also the Directors for the purpose of company law, and who served during the year were: Ms Jette Sandahl Mr Jonas Bengt Dahl Ms Jouetta Van Der Ploeg Ms Vesna Marjanovic Ms Sharon Heal Mr Joan Roca Albert Dr Richard Benjamin Ms Léontine Meijer-van Mensch Mr Hans Looijen (Treasurer) Dr Michal WiSniewski DrAdriana del Jesus Munoz Ms Med8a Ekner Ms Amina Krvavac (Chairl (Resigned 14 November 2024> (Resigned 14 November 2024) (Resigned 17 November 20241 (Resigned 14 November 2024> (Resigned 19 November 2024> (Appointed 1 March 2025) Ex-officio members of the Board (who are not a trustee).. Ms Danielle Kuijten, Co-chair of the EMYA Jury Ms Agnes Aljas, Co-chair of the EMYA Jury Trustees are appointed by members of the Board of Trustees. There may be no more than nine and no fewer than five Trustees at any on8 time. The Board of Trustees appoint among its members a Chair, a Treasurer and a Company Secretary. Trustees are appointed by recommendation. Presently, all Trustees have had experience of seNing on boards of international cultural organisations. If a less eXperIend trustee would be recruited in future, the EMF intends lo give such a person Ihe appropriate training. The key decisions pertaining to EMF policy and govemance are taken by the board as a whole. Amongst these communications and markeling {inGluding publications}- fundraising and special projeGIs. All members of the Board will also take on particular duties as and when required. The Board will meet in person once a year during the EMF conference to discuss core pnnciples and strategic directions, and meet online during the year as needed. The EMF Board appoints the EMYAjury, which then takes decisions pertaining to the awards independently, provided there are no irregularities in the judging prOS$. Any potential conflicts of interest of the jury members are brought to the attention of the EMF Board. The EMF Board identifies and appoints National Correspondents, who are responsible for raising awareness of EMF and EMYA, identify and support potential award candidates in their countries.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Small company provisions This report has been prepared in accordance with the special provisions relating to small companies with part 15 of the Companies Act 2006. The Trustees, report was approved by the Board of Trustees. Mr H•n• Loolhn (Trn•Suj TfUSte• M• Amlna (CIMlr> Trusts•
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the Directors of European Museum Forum for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AcpIed Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate 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: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent; state wh8ther applicable UK Accounting Standards have been followed, subject to any mat8rial departur8S disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. 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 Acl 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.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EUROPEAN MUSEUM FORUM I report to the Trustees on my examination of the financial statements of European Museum Forum (the charity) for the year ended 31 March 2025. This report is made solely to the charivs Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examinerfs report and for no olher purpose. To the fullest extent permitted by law, I do not a¢Gepl or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination, for this report, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of the charity (and also its Directors for the purposes of company law) you are responsible for Ihe preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, report in respect of my examination of the charity's financial slatemenls carried out under section 145 of the Charities Act 2011 (the 2011 Act). In Carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 14515llb) of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving m8 caus8 to believe that in any material respect.. accounting records were not kept in respect of the charity as required by s8Ction 386 of the Companies Act 2006. the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 olher Ihan any requiremenl that the financial slatements give a true and fair view, which is not a matter considered as part of an independent examination: or the financial statements 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 iheir financial statements in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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 financial statements to be reached. Anita C Mason BA(Honsl BFP FCA Mitchell Charlesworth Accountants Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ Dated: ...1.91.1.212Q2
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Unrestricted funds funds 2025 2024 Notes Income from: Donations and legacies Charitable aclivities 44,198 36,062 70,902 24,334 Total Income 80,260 95,236 enditure on: Charitsble aclivities 92,564 95,117 Net movement In funds (12.304) 119 Fund balances at 1 April 2024 102,952 102,833 Fund balances at 31 March 2025 90,648 102,952 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Th8 Statement of financial activities also complies with the requirements for an incom8 and expenditure account under the Companies Act 2006.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Intangible assets Heritage assets 1,264 2.000 1,516 2,000 10 3,264 3,516 Current assets Cash at bank and in hand 95,144 107,644 Credltors: amounts falllng due wlthln one year 12 (7.760) 18.208) Net current assets 87,384 99,436 Total assets less current liabilities 90,648 102,952 Funds of the charity General unrestricted funds 90,648 102,952 90,648 102,952 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the stale of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including ils income and expenditure. for the 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 io financial statements, $0 far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial stalements have been prepared in accordance with the provisions applicable lo companies subject to th8 small companies regime. The financial statements were approved by the Trustees on . 1911212025 jen (Tr•asiffer) Als AMIM Krv*ac (Chw) Company Reglstratlon No. 07243034
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounling policies Charity information European Museum Forum is a private company limited by guarantee incorporaled in England and Wales. The registered office is Museums Association, 42 Clerkenwell Close, London, EC1 R OAZ. 1.1 Accounting convention The financial stalements have been prepared in accordance with the charity's Memorandum and Articles of Association. the Companies Act 2006. FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102") and the Charities SORP 'Accounting and Reporting by Charities.. Statement of ReGommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102>" (effectlV8 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial slatements are prepared in sterling, which is the functional currency of the charity. Monetary amounls in these financial statements are rounded lo Ihe nearest £. The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. The Charily has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 1.2 Golng concern At the tim8 of approving the accounts the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the 'going concern, basis of accounling in preparing the accounts. 1.3 Charltable 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 olher purposes. 1.4 Income Income is recognised in the period in which the charity is entilled to receipt and the amount can be measured with reasonable certainty. Award Entry Fees are accounted for when received, except for those amounts relating to future awards which are carried forward to the relevant year as deferred income. Grants are recognised in full in the statement of financial aclivities in the year in which they are receivable. Income is deferred only when the charity must fulfil conditions before being entitled to it or where the donor has specified that the income is to be expended in a future period. Foreign donations and grants are shown net of bank charges incurred bringing them into the charity's sterling bank account.
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is accounted for in the period in which it is incurred. The IeCOVerable element of VAT is included within the item of expense to which it relates. Where an ilem of expenditure falls directly wilhin one cost category it is attributed to that category only. Where expenditure involves more than one category it is apportioned on a reasonable and justifiable basis. The costs of some activities associated with, but nol managed by EMF have been met directly by the European Country Ministries, they are nol under the control of EMF and national and local bodies. These costs have not been included within the financial statements as no reliable estimate of the amounts involved can reasonably be obtained. Gov8rnanc8 costs compris8 the costs of the charitable administration and complying with constitutional and statutory requirement aspects of the charity. 1.6 Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible assel arises from contractual or other legal rights., and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases= Trademarks Over 10 years 1.7 Herilage assets Heritage assets are initially m8asured at cost and subsequently measured at cost or valuation, n8t of depreciation and any impairment losses. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. It is the opinion of the Trustees that the residual value of the sculpture is equal to or in excess of the cost and therefore the annual depreciation charge in relation to the sculpture continues to be nil. 1.8 Impairment of fixed assets At each reporting end date, the Gharity reviews the carying 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 lo determine the extent of the impairment loss {if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments wilh original maturilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 10-
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan 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 lo 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 cosls and are subsequently carried at amortised cosl 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 re1vable within one year are not amortised. Basic financial liabilities Basic financial liabililies, induding creditors and bank loans are initially recognised al transaction price unless th8 arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rale 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 cours8 of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabililies. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the 8ffectiV8 interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Foreign exchange Transactions in foreign currencies are translated al the average rate during the year. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. Exchange gainsllosses are charged to the Statement of Financial Activities in the period in which they are incued. 1.12 Taxation The charity benefils from various exemplions from taxation afforded by tax legi51alion and is nol liable to corporation tax on income and gains falling within these exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 11
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and judgements In the application of the charity's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There were considered to be no critical accounting estimates or judgements applied in the preparation of these financial slatements. Donatlons and legacles Unrestrlcted Unr8Stricted funds funds 2025 2024 Donations and gifts Donated goods and services 31,571 12,627 57,907 12,995 44,198 70,902 Donated goods and services Donated services were provided to European Museum Forum by EMF-Municipality of Portimao protoco in the form of staff costs. Staff costs total £12,627 (2024: £12,995) and are stated at an estimated proportion of salary paid to each stsff member in respect of the work undertaken on behalf of EMF. Charitable activities Annual com etition and assembl Unrestricted Unrestricted funds funds 2025 2024 Other charitable income 36,062 24,334 12-
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Annual com etition and assembl Unrestricted Unrestricted funds funds 2025 2024 Project and other costs 65,496 71,073 Share of support costs (see note 6) Share of govemance costs (see note 6) 12,879 14,189 13.247 10,797 92,564 95,117 Support costs Support Governance costs costs 2025Support costs Govemance costs 2024 Staff costs Amortisalion 12,627 252 12,627 252 12,995 252 12,995 252 Independent examination fees Accountancy Legal and professional Meeting costs Foreign exchange {gainslllosses Other costs 2.340 2,116 3,791 2.874 2,340 2,116 3,791 2,874 2,226 1,822 2,226 1,822 1,955 1,955 1,994 1,074 3,698 1,096 3,698 1,096 1,074 12,879 14,189 27.068 13,247 10,797 24,044 Analysed beteen Charitable activities 12,879 14,189 27,068 13,247 10,797 24,044 All Costs have been recharged to Annual Compelition and Assembly. Truslees None of the Trustees (or any persons connected with them) received any remuneration during the year12024'. £nil). During the year 7 Trustees and 1 ex officio members were reimbursed expenses of £12,696 relating to EMF projects12024.' 6 Trustees and 1 ex officio Trustees were reimbursed £4,864) . 13-
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees Employee costs include donated staff costs from EMF-Municipality of Portimao protocol for the amount of £12,627 {2024- £12,995) for administrative support. Previous to this agreement staff costs where invoiced directly to the charity. The average monthly number of employees during the year was.. 2025 Number 2024 Number Administration 2025 2024 Administration fees 12,627 12,995 Th8re wer8 no employees whos8 annual remuneration was £60.000 or more (2024: none). Intangible fixed assets Trademarks Cost At 1 April 2024 and 31 March 2025 2,525 Amortisation and impaimienl At 1 April 2024 Amortisation charged for the year 1,009 252 At 31 March 2025 1,261 Carrylng amount At 31 March 2025 1,264 At 31 March 2024 1,516 14-
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Heritage assets Sculpture At 1 April 2024 and at 31 March 2025 2,000 The Henry Moore sculpture is awarded to the winning museum and held for a year by them. The sculpture is insured by the winning museum for £40,000. It is the opinion of the trustees that the residual value of the asset is in excess of the cost and therefore the annual depreciation charge is £nil. 11 Financial instruments 2025 2024 Carrylng amount of financlal assets Debt instruments measured at amortised cost 95,144 107,644 Carrying amount of financial liabilities Measured at amortised Cost 3,972 3,876 12 Credltors: amounls falllng due wllhln one year 2025 2024 Notes Deferred income Accruals 13 3,788 3,972 4,332 3,876 7,760 8,208 13 Deferred income 2025 2024 Other def8rr8d income 3,788 4,332 Total deferred income at 1 April 2024 Amounts received in the year Amounts credited to statement of financial activities 4,332 3,788 (4,3321 16,335 4,331 (16,335) Total deferred income at 31 March 2025 3,788 4,332 15-
EUROPEAN MUSEUM FORUM COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Related party tran$a¢tion$ Other than disclosed in note 7. there have been no other related party transactions. 15 Company limited by guarantee European Museum Forum is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £10. 16-